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TWO
SECTIONS —SECTION
GENERAL LIBRARY}
ONE-
Electric Railway Section
State and City Section
Railway & Industrial Section
Bank &
Quotation Section
Railway Earnings Section
Bankers' Convention Section
Entered at N. Y. Post Office as second class mail matter.
Copyrighted in 1910, by William B. Dana Company, New York.
NEW YORK, OCTOBER 22 1910.
VOL. 91.
NO. 2365.
ginattjctal.
iPuancial.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
NEW
YORK
BANKERS
Foreign Exchange, Cable Transfers,
Letters of Credit, Payable through¬
out the world
*'
.
.
The Company la a local depositary for
moneys paid Into Court, and Is author*
toed to act as Executor, Administrator,
Trustee. Guardian. Receiver, and In an
other fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
as Transfer Agent and Registrar of Stocks
and Bonds.
Reoetves deposits upon Certificates of
Deposit, or subject to check,
Interest on daily balances.
and allows
Manatee Real Estate and lends money
bond and mortcace.
Will act as Acent In the transaction of
mi
approved financial business.
Depositary tor Local Reserves of State
Banks and also for moneys of the City of
any
New York.
Fiscal Agent tor States. Counties
Ottos.
and
16-22 WILLIAM STREET
475 FIFTH AVENUE
NEW YORK
PARIS
LONDON
Government,
Railroad
LIBERTY
THE
and
NATIONAL
Municipal Bonds
INVESTMENT SECURITIES
BANK
OF NEW YORK
PHILADELPHIA, represented by ‘
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON. 25 Congress St.
ISS BROADWAY
The National Park Bank
of New York
N. W. HARRIS & CO
BANKERS
Organized 1858.
Pina Street Comer William
Capital
$5,000,000 00
Surplus and Profits ..... 12,694,07817
Deposits Sept. 1,1910 . . . 102,028,88917
RICHARD DELAFIELD,
President,
GILBERT G. THORNE.
JOHN O. MeKEON.
Vice-President.
Vice- President.
JOHN O. VAN CLEAF.
Vice-President.
MAURICE H. EWER.
Cashier.
WILLIAM O. JONES.
WILLIAM A. MAIN.
Aset. Cashier.
Aset. Cashier.
FRED’K O. FOXCROFT. Asst. Caehier.
NEW YORK
85 Federal St.. Bostea
Receive
deposits subject te check
and
Act
Interest en balances.
fiscal agents far munici¬
allow
as
and
palities
of
totters
Issue
corporations.
credit
and
deal
la
BONDS FOR INVESTMENT
LIST ON APPLICATION
Members of Richmond and Baltimore Stock
Bzchances.
John L. Williams & Sons
Edward B. Smith & Co.
BANKERS
THE
Comer 9th and Main Streets
MECHANICS AND METALS
RICHMOND, VA.
Baltimore Correspondents:
M1DDBNDORF. WILLIAMS A CO.
Capital, $1,000,000
INVESTMENT SECURITIES
NATIONAL BANK
Members New York and Phlla. Stock Exchange
SS Wall StrMt
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner Sth Ave. and.lSrd St.. New York.
N. B. Cor. Broad ft Chestnut Sts..
Capital,
•
•
-.
-
<6,000,000$
6,000.000
Philadelphia
S7 Pine Street. New York
Surplus, $ 1,000,000
RUEL W. POOR. President
JAMES MoCUTCHEON, Vtoe-Pres.
WILLIAM L. DOUGLASS. Cashier
ARTHUR W. SNOW. Asst. Cashier
-Chase National Bank
Clearinc House BuUdinc
Cap. ft Surp.. US.T0e.779
BANKERS
k
ORIGINAL CHARTER 1829
THE
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
Dep.. 196,750,273
A. B. HEPBURN. President
A. H. Wiccin. V.-Pres. C. C. Slade. Asst. Cash.
S. H. Miller, V-Pree.
E. A. Lee. Amt. Cashier.
N. M. Cookey. Cashier. W. E. Purdy. Amt. Cash.
A. C. Andrews. Asst. Cashier.
OF RAILROAD. GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
109-111 SOUTH FOURTH STREET
PHILADELPHIA
OF THE
qgr OF NEW YORK
Capital
.... $1,000,000
Surplus and Profits (earned)
2,450,000
OFFICERS
THE
EQUIPMENT OF THE
NATIONAL BANK
OF THE CITY OF NEW YORK
SAMUEL WOOLVERTON, President
ADRIAN ISELIN JR.. Vice-President
GEORGE tt LEWIS. Cashier
HOWELL T. MANSON. Amt. Cashier
FOURTH
#^RNER NASSAU AND
STREETS— IS
PINE
ESPECIALLY
ARRANGED FQR HANDLING
MERCANTILE ACCOUNTS.
First National Bank
of
Philadelphia
315 CHESTNUT STREET
ACCOUNTS
INVITED
DIRECTORS
Irian IseUn Jr.
mlerlo W. Stevens
oxarder H. Stevens
Bmlen Roosevelt
.
„
Ohas. A. Peabody
Samuel Wootverteu
Charles H. Tweed
Thames Den*y
II
THE CHRONICLE
[VOL.
LXXXXI
gattfcecs xik£ iS**a«** at Eavtlgn g*ctumg*.
I. P. MORGAN & CO. Maitland, Coppell & Co.f
Kidder, Peabody & Co.,
DOMESTIC AND FOREIGN BANKERS
Wall Street
52 WILLIAM STREET
NEW YORK
Corner of Broad
NEW YORK
DREXEL ft CO*
PHILADELPHIA
Corner of Sth and Chestnut Streets
MORGAN* GRENFELL & CO., LONDON
No. 22 Old Broad Street
HARJEsT
MORGAN*
&
CO„
116 DEVONSHIRE
66 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
Issue Loans.
Bills •/ Exchange, Telegraphic
Letter* of Credit
Tranefere,
Union
of
London
&
Bank,
Limited.
London.
Deposits received subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange, Commercial Credits
Messrs. Mallet Freres & Cie., Paris.
Banco Nadonal de Mexico
And Its Branches.
Agents for the Bank of Australasia, the British
Gut
Otroular Letters for Travelers available In all parts
of the world
Brown Brothers & Co.,
BOSTON.
69 Wall Street
.
_
Buy and Sell Investment Securities
Agents and Correspondents of the
Messrs. ROTHSCHILD.
London. Paris and Vienna.
ISSUE LETTERS OF CREDIT
for Travelers
Available in all parts of the world.
Draw Bills of Exchange and make
Telegraphlo
Transfers to EUROPE, Cuba, and the
other West Indies, Mexico and California.
27 Pine Street, New York
Issue
Letters of Credit for Travelers.
Available in all Parts of the World
DRAW BILLS OF EXCHANGE AND MAKI
OF MONEY TO
EUROPE AND CALIFORNIA
TELEGRAPHIC TRANSFERS
SeUgman Brothere, London
Seligman
Breree Jt Cie*, Baric
the purchase and sale of
Bonds and Stocks.
Aleberg, Goldberg A Co*, Amsterdam
The Anglo and London-Boric
National
Execute orders for
Bank of San
New York.
BANKERS
ftahmmd&Co.
INVESTMENT SECURITIES
BANKERS
MEMBERS NEW YORE STOCK EXCHANGE
81-88 Pine Street, New York
024 Fifth Ave., N. Y.
SOT Chestnut Street,
BANKERS
Lawrence Turnure & Co.
INVESTMENT
Members of the New York Stock Exchange
64-66 Wall Streat, Naw York
Deposits received subject to draft. Interest al¬
lowed
on deposits.
Securities bought and sold on
commission. Travelers* credits, available
through¬
out the
United States, Cuba, Puerto Rico,
Mexico,
Central America and Spain. Make collections
In and
Issue drafts and cable transfers on above
countries.
Winslow, Lanier & Co.,
London Bankers:—London Joint-Stock
Bank.
Limited.
Paris Bankers:—Heine ft Co.
69 CEDAR STREET
Produce
BANKERS
Bn posits Received Subject to Draft. Interest
Allowed on Deposits.
Securities
Bought snd Sold on
Commission.
Foreign Exchange, Letters of Oredit
f’oreign Exchange
-
-
-
-
$1,000,000
600,000
Transact
a
General
Foret
and Domestic
Banking Business
Dealers
£ Investment Securities
John Munroe & Co.,
NEW YORK
BOSTON
Letters of Oredit for Travelers
Commercial Credits.
Foreign Exchange.
Cable Transfers.
MUNROE ft 00., Paris
Deposits received
subject to cheque
Interest allowed on deposits.
and
Members New York Stook Exchange.
Securities bought and sold
Act
as
on
commission
Fiscal Agents.
Dealers In High-Grade Investment Securities.
Graham & Co.
bought and
sold. Cable
Transfers. Commercial and Travelers’ Letters
of
Credit available In all parts of the world.
BANKERS
486 Chestnut Street
PHILADELPHIA
HEIDELBACH, ICKELHEIMER ft CO.
Government
Securities
and
of
Municipal Bonds,
Railroads, Street
Railways and Gas companies
of established value.
ST William Street.
STREET, NEW YORK
Exchange and Cable Ttaastes.
BROADWAY. Corner BEAVER ST.
Capital
Surplus earned
BANKERS.
BANKERS
Bills of
Cheques;
Exchange Bank
ACCOUNTS INVITED
Kean, Taylor & Co.
of Oredit and Travelers’
available the world over.
Lists upon application.
NEW YORK
NEW YORE
Philadelphia.
Cablet "Mtmoca."
Letters
Bankers
SECURITIES
SO MNE
Braneieco, Cal*
Graham, Vaughan & Co.,
Street,
44 Pine
TA1LER&©
Seligman & Co.,
No. 2S NASSAU STREET.
Members New York Stook Exchange.
m
BROWN, SHIPLEY A CO.. LONDON
LTD
00.
BANKERS
NEW YORK
.
States on foreign countries, including South Africa.
INTERN ATI ON AL CHEQUES.
CERTIFICATES OF DEPOSIT,
r
Buy and seU Bills of Exchange
Letters and make cable transfers on all
points. Issue Commercial and
if1 Travelers’ Credits, available In
“a |
Cull
ail parts of the world.
ft
LONDON
August Belmont & Co.,
BANKERS.
OCCUritlCS
_
BROTHERS
Bank, Demerara, etc., eto.
aa
J. & W.
_
of Banks, Bankers, Corporatlons. Firms and Individuals
mi favorable terms.
Collect
drafts drawn abroad on all points In the United
States and Canada; and drafts drawn In the United
Correspondents of
BARING
TRAVELERS’ LETTER8 OF CREDIT
Available throughout the United States
ALEX. BROWN ft SONS, BALTIMORE.
Connected by Private Wire.
N. Y., PhOa., Boston ft Bait. Stock Exch’s.
Buy and sell first-class Investment Securities on com- I
nvPfifTnPIlt
mission.
Receive accounts *11VCOluiCUl
,
LETTERS OF CREDIT
'
Cable Transfers
NEW YORK.
INVESTMENT SECURITIES.
FOREIGN EXCHANGE.
Smiths
SI Boulevard Haussmann
PHILA.
BANKERS
on
PARIS
STREET, BOSTON
STREET, NEW YOKE
MEMBERS N. Y. STOCK EXCHANGE.
Execute orders for purchase and sale of
Stocks and Bonds.
Foreign Exchange Bought and Sold.
Act
as
Financial Agents
Issue Foreign and Domestic Letters ef
Credit and Travelers’ Cheques
Issue Commercial and Travelers' Credits
available in all parts of the world.
Schulz & Ruckgaber,
BANKERS.
If William Street.
New York
Members New York Stook
Exchange.
Knauth, Nachod&Kiihne
BANKERS
-
Correspondents of Messrs.
Fruhllng & Goschen, London.
John Berenberg-Gossler ft
Co.,
Marcuard, Meyer- Borel ft Cie., Hamburg,
Paris.
Bremer Bank
Bremen.
Flllale
der
Dresdner
I woe Commercial ft
Travelers' Credits.
Buy and SeU Bills of Exchange.
Bank,
Cable Transfers ft Investment Securities
raw yobx
LBiparo, chcbuany
Members New York Stock
Exchange.
INVESTMENT
SECURITIES
Oot. 22
THE CHRONICLE
1910.]
Sank***.
Sanfeevs.
gatxlut:*.
Millett,Roe & Hagen
Lee, Higginson A Co.
Buildings, Prince's Street,
LONDON, E. C.
S3 Will Street
New York
BANKERS.
Deeleri In
Members New York, Chicago and Boston
Stook Exchanges.
HIGH-GRADE BONDS
Chicago
HIGGINSON & CO.
I Bank
BANKERS
Wm. A. Read & Co.
BOSTON
New York
ui
Investment Securities
Members New York Stock
Excdange
Boston, 15 Congress Stroot
25 NASSAU STREET,
NEW YORK
Plympton, Gardiner & Co*
If embers New York
BALTIMORE
BOSTON
CHICAGO
N. W. HALSEY A CO.
Ban kora
LONDON
and Chicago
BONDS FOR INVESTMENT
Stock Exchange!
Interest Allowed on Deposit Aoeonnts
Conservative Investments
Fiscal Agents
LISTS ON REQUEST
27 William St.v New York
54 Old Broad Street
LONDON, E. C.
132 La Salle Street
CHICAGO
Rhoades& Company
for Cities and Corporations
Street, HEW YORK
40 Wall
Philadelphia
8ao Praacisco
Chicago
BANKERS
STREET. NEW YORK
45 WALL
George P. Butler & Bro.
NEW YORK
If Wall Street
Members N. Y. Stock Exchange
High-Grade Bonis
Trowbridge & Co.
Stete,
Railroad
and
Municipal
RAILROAD AND OTHER
INVESTMENT SECURITIES.
BANKERS
Members New York Stock
Exchange
Members New York Stook Exchange; Execute
OommhMlon Orders; Deposits
received subject to
draft.
Bonds and Stocks
for Investment
Cor. of Wall and Broad Sts.. New
Letters of Credit and
Travelers’ Checks
Available Throughout the
World
HARTFORD—S6 Peart Street
NEW HAVEN
134 Orange St.
NEW YORK
111
Broadway
H. B. HOLLINS & CO.
Drew Bills of Exchango and mtko Cablo
Transfers to Europe, Ask, Australia, the
West Indies, Central and South Amorie and
Moxico.
Issue Letters of Credit for Travelers,
able in all parts of the world.
BANKERS
•0 WALL STREET. NEW YORK
SIMON BORG & CO.,
BOSTON
BANKERS
Members of New York & Chicago Stock Exchanges
Blake Brothers & Co.
Exchange Place,
NEW YORK
Execute orders for purchase and
sale of
Stocks and Bonds
Buy and Sell Foreign Exchange.
GABLE ADDRESS. “COLDNESS”
14 State Street
BOSTON
Issue
Dealers tn
NEW YORK CITY
Members New York 4b Boston Stock Exchanges
Commercial and Travelers9
Letters of Credit
Securities
and Commercial Paper
Zimmermann & Forshay
• and 11 Wall Street. New
York.
Members New York Stock Exchange.
24 BROAD STREET.
Orders executed for stocks
ment or on
Haw Tort
-
HIGH-GRADE
INVESTMENT SECURITIES
Wollenberger & Co.
margin.
Transfers
to all
Foreign Government Bonds
Correspondence Invited.
206 Lt Salle Street
-
■
CHICAGO
Parts of
LEONARD H. HO LB
BIRD 8. COLER
Fire ip Exchange taught aid Said
Utters at Credit tsssad
Cable
T
Specialists In
and bonds tor Invest¬
Members New York Stook Exchange.
TRANSACT A GENERAL BANKING AND
STOCK EXCHANGE BUSINESS.
No. 90 Himn Street,
BANKERS
BOISSEVAIN & CO.
Adolph Bolssevain & Co..
Amsterdam. Holland.
New York Stock Excitant.
DEALERS IN
IswdsMsf
BANKERS
NEW YORK.
Uomttrt or
Available In all parte of the world.
and other MTJNIOIPAX. BONDS
COMMERCIAL PAPER
INVESTMENT SECURITIES
avail¬
Goldman, Sachs & Co.
CHICAGO
N
York.
the World.
W. N. COLER 6, CO.
BANKERS
43 CEDAR ST-
NEW YORK
INVESTMENTS
BOND & GOODWIN
BANKERS
Corporation and Collateral Loans
Commercial Paper
also
CHAMP, MITCHELL & SH9BER
BANKERS
1411 Chestnut St.
BANKERS
Philadelphia
^
Of VESTMENT SECURITIES
Members New York Stook Exchange
and Boston Stook Exchange.
46 Congress
St.
BOSTON
111
Broadway
NEW YORK
134 LaSalle St.
CHICAGO
Members New York and Phlla. Stock
New York Cotton Exchange
Shoemaker, Bates & Co.
Exchanges
Investment Securities
[New York Stock Exchange
Members! New York Cotton BTohafti
(.Chicago Stock Exchange
INVESTMENT SECURITIES
37-43 Wall Strwt, New York
Waldort-Astorkud 60S Fifth Ave., New Yart
IV
THE CHRONICLE
0
[VOL.
MJWjyiil ♦
LXXXX1.
(ffattadiaii.
DEUTSCHE BANK The Union Discount Co. BANK OF MONTREAL
BERLIN
(Established 1817)
of London, Limited
CAPITAL paid in
Behrenstrasse
18.
$14,400,000 00
W
9 to
-
89 CORNHILL.
CAPITAL
847,619,000
M. 200.000.000.
RESERVE
826.172,895
M. 105.720,164.
Dividends paid during last ten years:
11. 11. 11. 11. 12. 12. 12. 12. 12, 12* per cent
Brandies:
BREMEN, DRESDEN, FRANKFORT-O-M..
HAMBURG,
LEIPSIC,
MUNICH,
NUREMBURG. AUGSBURG.
WIESBADEN,
BRUSSELS, CONSTANTINOPLE
and the
NEW YORK OFFICE,
64 WALL STREET
R. Y. HEBDEN,
1
W. A. BOG,
^Agents.
J. T. MOLINEUX.J
CHRISTOPHER R. NUGENT, Manager.
Boy and Sell Sterling and Continental Exchange
LONDON, E. 0.
BANCO ALEMAN TRANSATLANTIC!)
5 Threadneedle Street. London.
England.
With Branches In all the Principal Cities and
Towns of England and Wales.
(Deutsche Ueberseelsche Bank.)
Telegraphic Address: Cinnabar, London.
4 George Yard. Lombard St.,
Head Office—Montreal
Rt. Hon. Lord Strathcona and Mount Royal,
a. C. M. a.. G. C. V. O.—Honorary Preslden
R. B. ANGUS. President.
Sir Edw. Clouston, Bart.—V.-Pres. & Gen. Mgy
The Company discounts approved bank
and
mercantile acceptances, receives
money on do*
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
The London City &
Midland Bank, Limited,
Deutsche Bank (Berlin) London Agency
12,000,000 00
681,661 44
UNDIVIDED PROFITS,
NOTICE IS HEREBY GIVEN that the
RATES OF INTEREST allowed for
money on
deposit are as follows:
At CaH. 3 H Per Cent.
At 8 to 7 Days’ Notice. 8K Per Cent.
t
-
REST,
Telegraphic Address, Udlsoo. London.
Capital Subscribed
87.500.000
Paid-Up
3,750,000
Reserve Fund
2,900,000
85= £1 STERLING.
and Cable Transfers; grant Commercial and Trav¬
elers' Credits, available In any part of the world:
Issue drafts on and make collections In
Chicago and
throughout the Dominion of Canada.
London Office, 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLOR. Manager.
HEAD OFFICE
SUBSCRIBED^ APITAL
(87.143.000)
M. 30.000,000.
PAID-UP CAPITAL-
SUBSCRIBED CAPITAL, $95,741,700
(81.625.000) PAID-UP CAPITAL,
19,946,187
RESERVE FUND, - 17,951,568
(86.857.000)
M. 22,500,000.
PESERVE FUND
M. 6.827,000.
HEAD OFFICE
BERLIN
Kanonlerstirasse 29 to
ESTABLISHED 1636
Sir EDWARD H. HOLDEN. Bart.,
Chirman and Managing Director.
30.
Merchants’ Bank of Canada
HEAD OFFICE MONTREAL
CAPITAL
86.000.009
Rest and Undivided Profits
4,602.157
NEW YORK OFFICE, 63 and 65 Wall St.
W. M. RAMSAY.
\Agents.
C. J. CROOKALl. j
147 branches In the Provinces of Quebeo,
Ontario;
Manitoba. Saskatchewan, Alberta and British
Columbia. Good facilities tor effecting prompt col¬
lections in Canada. Buy and sell
Sterling Exchange
and Cable Transfers. Issue Commercial and
Trav¬
elers’ Credits available In any part of the world.
London Agents—The London Joint Stk.Bk.. Ltd.
Branches:
ARGENTINA: Bahla-Blanca. Buenos Aires,
Cordoba, Mendoza. Tucuman.
Canadian Bonda
MUNICIPAL AND CORPORATION
BOLIVIA: La Paz, Oruro.
CHILI:
Antofagasta. Concepcion, Iqulque, Osorno.
Santiago. Temuco, Valdivia, Valparaiso.
PERU: Arequlpa, Callao. Lima. Trujillo.
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
Bills uni for collection, negotiated or
Berliner
WOOD, GUNDY & CO,
Handels-Gesellschaft,
TORONTO
CANADA
BERLIN, W„ 64
advanced upon.
Behrenstrasse 32-33 and Franxoslscho-Strasse 42
Telegraphic Address—Handelschaft, Berlin.
Drafts, cable-transfers and letters
of credit issued.
London Agents
DEUTSCHE BANE (BERLIN) LONDON AG*Y
GEORGE Y’D, LOMBARD ST..
LONDON. B.C.
ESTABLISHED 1856
W. GRAHAM BROWNE ft CO.
,
MONTREAL
-
CANADA
-
Canadian Bonds Boufht, Sold and Appralttd
Banking Transactions of Every Description
Direction der
Disconto-Gesellschaft,
ESTABLISHED 1851
Capital,
-
Reserve,-
-
-
-
-
-
-
M.
M.
34,500,000
BERLIN* W„ 48-44 Behrenstrasse
BREMEN, FRANKFORT-o-M., MAINZ.
HOCHST-o-M.. HOMBURG v. d. H..
POTSDAM. WIESBADEN,
LONDON. E. C..
Swiss Bankverein
Bankverein
Bankverein
Suisse
Basle, Zurich, St Gall, Geneva
CAPITAL, fully paid,
-
M. 170.000.000.
RESERVE
-
-
M.
-
-
-
60.092.611.
$40,476,200
$14,307,764
With the unlimited personal
liability
Of the following partners:
A. SCHOELLER,
M. SCHINCKEL.
Dr. A. SALOMONSOHN,
E.
F.
RUSSELL.
URBIG,
Agencies at Rorschach, Chlasso and Herlsau
LONDON OFFICE, 43
Capital paid
Surplus,
M. 10 000.000 00
Head office: HAMBURG.
DE JANEIRO. SAO
Branches: RIO
PAULO.
SANTOS. PORTO ALEGRE. BAHIA.
Bank fur Chile und
Deutschland
CAPITAL
M. 10.000.000 00
HAMBURG. WITH
BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA), ANTOFA¬
GASTA. CONCEPCION. SANTIAGO. TEMUCO.
VALDIVIA. VALPARAISO.
& BOLIVIA
(BANCO
Ed'lA^SECCION
DE
VICTORIA; AND
CHILE
Y
ALE-
BOLIVIANA), LA PAZ
LONDON AGENTS:
DIRECTION DER DISCONTO-GESEL3>
SCHAFT.
53
CORNHILL. B.
O
up,
•
....
Brasilianische Bank
The
fUr Deutschland
CAPITAL
VAN OSS & CO.
THE
Schweizerischer
58 Cornhill.
gjonetlfiftt.
110,000,000
Lothbury, E. C.
Frs.62,800,000
Frs.16,330,000
National Discount
Company, Limited
86 CORNHILL.
....
LONDON, E. C.
Cable Address—Natdls: London.
Subscribed Capital
Paid-up Capital
Reserve Fund
(85— £1 STERLING.)
IS HEREBY
GIVEN
HAGUE, HOLLAND
Place American Investments in
Europe
Tel. Address, Vooo.
Codes: Hartfleld’s Wall St.. W. U. a Lleber.
Hong Kong & Shanghai
BAN KINO
CORPORATION
Paid-up Capital (Hong Kong Currency)
815,000.000
Reserve Fund/In Gold...815,000,0001
31,000,000
\In Silver.. 16,000,000/
Reserve Liabilities of Proprietors
15.000,000
GRANT DRAFTS, I8SUE LETTERS OF
CREDIT.
NEGOTIATE OR COLLECT BILLS
PAYABLE IN
CHINA, JAPAN, PHILIPPINES, STRAITS SETTLE¬
MENTS, INDIA.
WADE GARD’NER, Agent. 86 Wall St.
Wiener Bank Verein
-
ESTABLISHED 186,
CAPITAL (fully paid)
-
-
(130.000.000 crowns)
RESERVE FUNDS
-
-
821.166.625
4.233.825 HEAD OFFICE VIENNA
2,200.000
NOTICE
that the
RATES OF INTEREST allowed for
money on
deposit are as follows:
At Cell. 8 H Per Cent Per Annum.
At 8 to 7 or 14 Days' Notice. 8 H Per
Cent.
Approved bank and mercantile bills discounted.
Money rooelved on deposit at rates advertised
from time to time ana for fixed
periods upon
specially agreed terms.
Loans granted on approved negotiable
securities
PHILIP HAROLD WADB. Manager.
-
(89,000.000 crowns)
Branches in
S26.342.0M
17,900,000
(AUSTRIA)
Austria-Hungary
Agram, Aussig a-E., Bielitz-Biela,
Brunn, Budapest, Carlsbad, Czernowitz, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsen, Prag, Przemysl,
Prossnitz, St. Polten, Tarnow, Tepliti,
Teschen, Villach, Wr. Neustadt.
Branch in Turkey
Constantinople
Oot. 23
THE CHRONICLE
1910.]
Sautuevs.
(Kanadiatt.
THE CANADIAN BANK
OF COMMERCE
Mackay & Co.
HEAD OFFICE. TORONTO
>10,000.000
PAID-UP CAPITAL
SURPLUS
0.000.000
NEW YORK OFFICE:
Nos. 16 AND 18 EXCHANGE PLACE
Wm. Gray and C. D. Mackintosh. Agents
Buy and Sell Sterling and Continental Ex¬
change and Cable Transfers. Commercial and
Tra voter's Credits. Collections made at all points.
Banking and Exchange business of every de¬
scription transacted with Canada.
Edward Sweet & Co.
Members N. T. Stock
Bankers & Brokers
34 PINE STREET
LONDON OFFICE—2 Lombard Street. E.O
BANKERS IN GREAT BRITAIN.
The Bank of England.
The Bank of Scotland,
Lloyd's Bank. Limited.
Union of London and Smith’s Bank. Limited.
Exchange
BANKERS
Members of the New York
Stock Exchange. Dealers in
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
NEW YORK
National
City Bank Building
55 Wall Street
ESTABLISHED 1854
NEW YORK
The Bank of
British North America
Established In 1806
Incorporated by Royal Charter In 1840
Paid-up Capital
ESTABROOK & CO
£1,000.000 Sterling
£580.000 Sterling
Reserve Fund
BANKERS
Eleotrio
Members New York and Boston
Stock Exchangee
Head Office:
5 Gracechurch Street. London. E.O.
New York Office: 58 Wall Street.
H. M. J. McMICHAEL.tAgents.
W. T. OLIVER.
J
Buy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers' Credits, available in any part of the
world.
Issue Drafts on and make Collections
In all parts of the United States and Canada.
WE OFFER
15 State Street*
24 Broad Street*
BOSTON
NEW YORK
-
BALTIMORE
J. J. REED,
G. W. FARRELL, Secretary-Treasurer.
A. H. B. MACKENZIE. Manager.
DIRECTORS:
ALFRED BAUMGARTEN O. R. HOSMBR
Oapt. D. O. NEWTON (Montreal)
H. ROBERTSON
O. B
GORDON
MONTREAL
Correspondence Solicited
ELECTRIC BOND & SHARE CB.
R. L. DAY & CO.
.
Vice-President.
Bankers and Investment Dealers
Proven Public Utility Securities
CHICAGO
C. Meredith & Co., Limited
CHAS. MEREDITH.
President.
Light, Power and Street
Railway Enterprises with records
of established earnings
INVESTMENT SECURITIES
HARTFORD
Bnd Inkers and Fiiaicial Agests
WE FINANCE
37 Wall St.
35
(Paid-Up Ctpital and Surplus* $4,900,000)
71 BROADWAY
BOSTON
NEW YORK
HU-HUE INVESTMENT UNIS
Municipal and Railroad
Members New York and
Boston Stock Exchanges
WILLUM P. B0NBRI6HT & COMPANY
BANKERS
Member* of the New York Stoek Exchange
Colorado Spring*
COLORADO
Canadian
Investment Securities
NEW YORK
Congress St.
Tucker, Anthony & Co.
London
24 Brood Stroat
New YORK
ENGLAND
Electric Power Securities
BANKERS ft BROKERS
CORRESPONDENCE SOLICITED
DOMINION SECURITIES
CORPORATION, LIMITED
^
Toronto
k
Montreal
94 BROAD STn
NEW tomb:
M STATE ST..
BOSTON
NORWICH
NEW BEEWOBD
Members Boston and Now York Stock
Exchanges.
BONDS
HUNT A CUSHMAN
LIMITED
Trustees-Transfer
Agents
BOND DEPARTMENT
CANADA
St. BOSTON
BERTRON, GRISCOM & JENKS
40 Wall Street.
Land Title Building.
PHILADELPHIA.
NEW YORK.
INVESTMENT SECURITIES
HANSON BROS.
Dealers In
Canadian Investment Securities
Send for opr circular
amts
St. Street
BANKERS
New Yerh
30 Pina Street*
Alfred Mestre & Co
BANKERS
BANKERS
Corporation Bonds
MONTREAL
35 Congress
All Issues
A. H. Bickmore & Co.,
Inveetenent Saouritlaa
INVESTMENT TRUST CO.
Canadian
HEAT &, POWER COMPANY
GUARANTEED
London, Eng.
THE
NATIONAL LIGHT,
gifting detail*
MONTREAL
H. AMY & CO.
BANKERS
44 and 46 Wall
Street, New York
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
Members of the New York
Stock Exchange.
Dealers
in
Municipal, Railroad and
Equipment Bonds.
Interest allowed on deposits
Subject to Draft.
37 Wall 8t.
NSW YORK
130 8.16th St.
PHILADELPHIA
vi
THE CHRONICLE
IVoi..
lxxxxi.
Sav&ecs anil lookers outside Uetw fjovti.
PITTSBURGH.
LOUISVILLE.
We Buy and Sell
PORTLAND, ORE.
INVESTMENT BONDS
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE. KY.
J. S. & W. S. KUHN
BANKEBS AND BBOKEBS
i
ot
A
James S. Kuhn,
L. L. M’Clelland.
President.
See. & Treat.
PAID-UP CAPITAL. *500.000
John W. & D. S. Green
Members
New York and Pittsburgh Stock Exchanges
and Chicago Board ot Trade
INVESTMENT
SAN FRANCISCO.
LOUISVILLE, KY
J. C. WILSON
(New York Stock
SECURITIES.
NASHVILLE.
Union Bank Building,
PITTSBUBOH
Bankers and Brokers
NASHVILLE.
Southern
Wakefield, Garthwaite & Co.
Soeurltlaa
PACIFIC COAST SECURITIES
We
J. W. SPARKS A CO.
Offerings of Southern Bonds
f PHILADELPIA STOCK EXCHANGE
M EMBERS'! NEW YORK STOCK EXCHANGE
and Stocks
CHICAGO BOARD OF TRADE
James H. Adams & Co.
MUNICIPAL
California
CORPORATION
Issues
a
Specialty
Correspondence Invited
LOS ANGELES
YIELDING 4M% TO 5M%
PHILADELPHIA
PUBLIC
BONDS
SOUTHERN
MUNICIPAL BONDS
A CO.
SAN FRANCISCO
Established 1887
THE ROBINSON-HUMPHREY GO. WILLIAM R.
STAATS CO.
ATLANTA, GEORGIA
NORFOLK, VA.
CALIFORNIA
MOTTU & CO.
Legal Bonds
Established 1892.
Municipal and Corporation Bonds
HILLYER TRUST CO.
BROKERS Capital and Surplus, - - $300,000
AND
AND
ATLANTA.
BONDS
Exchange
LOS ANGELES.
AUGUSTA, GA.
Specialists in
INACTIVE SECURITIES
411 Chestnut St.. - Philadelphia. Pa.
SAN FRANCISCO
Member The Stock and Bond
WILLIAM E. BUSH
HUNTOON
Invite Requests for Information
1st Nat. Bank Bldg..
WANTED
Chestnut and Third Sts..
Philadelphia.
BANKERS
H W Heilman Bldg
Los Angeles.
Lumbermen’s Bldg.. Portland.
AUGUSTA. GA
Investments receive our spoeial attention. In¬
formation cheerfully furnished regarding present
Holdings or proposed Investments.
Building,
Merchanta’ Exch. Bldg.
San Francisco.
BROKER
STOCK AND BOND BBOKEBS
28 South Third Street.
PHILADELPHIA
■orris
BONDS
JOHN W. DICKEY
Wm. G. Hopper & Co.
E. B. JONES
BARROLL & CO.
TENN.
AUGUSTA.
W. G. HOPPER.
H. S. HOPPERS
Members ot Philadelphia Stock Exchange.
A
Correspondents,
Harris. Win thro p & Co.. New York & Chicago
8T00KS AND BONDS
PHILADELPHIA.
REED
SAN FBANOISOO
LOS ANGELES
Branch, Coronado Hotel. Coronado Beach.
THOS. PLATER & CO.
Singer Bldg.
INVESTMENT SECURITIES
(
(Stock and Bond Exchange, S. F.
Private Wire to Chicago and New York.
INVESTMENT SE0UBITIE8
NEW YOBK
.nd
Exchange.
MEMBER!Chicago Board of Trade.
HENRY S. FRAZER
Local Stocks and Bonds
Taylor & Company
268 Fourth Are.
BONDS
PACIFIC COAST SECURITIES A SPECIALTY
STOCKS AND BONDS
INVESTMENT SECURITIES
PITTSBUBOH, PA.
H. P.
Specialty
Correspondents: WALKER BROS.. 71 B'way. N. Y.
CHILDS & CHILDS
NEW YORK.
Municipal and Corporation
STREET RAILWAY SECURITIES
Pittsburgh, Pa.
PHILADELPHIA
'
INVESTMENT BONDS
Incorporated
MORRIS BROTHERS
PORTLAND
TO YIELD
4*6% TO 6%
LOS ANGELES
PASADENA
.
NORFOLK, VA.
cm*
-
■.
ATLANTA, GA.
•
'
—
DENVER, COL
BIRMINGHAM, ALA.
CALVIN BULLOCK
Otto Marx & Co.
BANKEBS
AND
DBNVEB
BBOKEBS
FIELDING J. STILSON CO.
INVESTMENT SE0UBITIE8
MEMBERS
LOS
ANGELES STOCK EXCHANGE
LOS ANGELES.
OITT TRAMWAY
BONDS
BUFFALO.
BIRMINGHAM. ALABAMA.
MONTGOMERY.
STOCKS AND BONDS
B. W.
MEYER & GOLDMAN
STOCKS AND BONDS
Strassburger
JOHN T. STEELE
BUFFALO, N. Y.
SOUTHERN INVESTMENT SECURITIES
MONTGOMERY, ALA,
Government, Municipal
and Corporation Bonds
BALTIMORE
Buffalo and Western New York Securities
OFFICES:
SPECIALISTS IN
BIRMINGHAM, \
MONTGOMERY,]
ALABAMA
COLSTON, BOYCE & CO
MEMPHIS.
Members Baltimore Stock Exchange
JNO. L. NORTON
INVESTMENT BONDS
Local Stocks and Bonds.
SOUTHERN SECURITIES
ALBANY, N.Y.
PETER J. CALLAN
INVESTMENT BANKER
Local, Listed and Unlisted
STOCKS AND BONDS
86 Madison Avtnut,
MEMPHIS,
-
-
TENN.
PORTLAND, MAINE
26
PAYS0N & CO.
Investment Securities
PORTLAND .... MAINS
Chas. H Payson Geo. S. Payson Herbert
Payson
NEW JERSEY.
Richardson & Clark
Established 1854
H. M.
REAL ESTATE
PROVIDENCE.
•
Exchange Street, Providence, B. I.
Bonds, Stocks and Local Securities.
Private wires to Boston,
Philadelphia
and New York,
EDWIN R. CASE
NEW
JERSEY
No better State
15
SECURITIES
No better Securities
EXCHANGE PLACE
Tala. S66 and 751
JERSEY CITY
O0T. 22
YU
THE CHRONICLE
1910.]
gat!tiers and graft*** outside get* goeft.
-yns'if
CLEVELAND.
ST. LOUIS.
CHICAGO.
anruftrLfinmiliMr
eaaaea«eeaaeeeeaee«»»ee.>.M....»«.^...........1^|Ylri|YuVuT^rUv|j1j|>
■ ■■■■*■
****** H
FRED. S. BORTON
T. E. BORTON
R. C. ENWRIGHT ,
GREENEBAUM SONS
BORTON
BANKERS
INVESTMENT SECURITIES
Randolph Streets. Chicago.
Corner Clark and
High-Grade Investment Securities.
LISTED AND UNLISTED
.
Bonds for sale.
Credit for travelers, available In
G. EDWARDS A SONS
Chicago First Mortgages and
Issue Letters of
all parts of the
▲
World.
General Domestic and Foreign BanklngBuslness.
Correspondence Solicited.
Send /or our latest lists 0/ Securities.
STOCKS AND BONDS
OF CLEVELAND AND NORTHERN OHIO
One Wall Street
MEMBERS CLEVELAND STOCK EXCHANGE
In St. Louis at 410 Olive Street
GUARDIAN BUILDING
Hayden, Miller & Co.
Sanford F. Harris ft Co.
Shreveport Bridge & Terminal Co.
IHVESTMEHT SECURITIES
First 5s, due 1955
THE
BORTON
&
ROOKERY
Investment Bonds
5%
Yield
CLEVELAND. OHIO
Citizens* Building.
INDIANAPOLIS.
CHICAGO
Joseph T. Elliott & Sons
A. O.
BANKERS & BROKERS
189 MONROE STREET.
CHICAGO,
Members:
Investment Securities
Slaughter & Co.,
Member* Indianapolis Stock Exchange
WHITAKER ft CO
ILL.
New York Stock Exchange.
New York Cotton Exchange.
New York Coffee Exchange.
New York Produce Exchange.
Chicago Stock Exchange.
High Grade
1 WILL BUY AND SELL
INDIANA TRACTION SECURITIES
St. Louis Merchants' Exchange.
THE ROOKERY. CHICAGO
an
To net 4}'2% to
Circular
RAILROAD, MUNICIPAL AND
CORPORATION BONDS
on
(INCORPORATED.)
COMMERCIAL PAPER
8. W. Cor. Monroe ft La Salle Sts.. Chicago.
KANSAS CITY, MO.
H.
J. G. WHITE & CO.
application
300 V. FOURTH ST.
McCRUM
Kansas City Ry. ft Light
Western Municipals.
Local Securities.
Compton Co
Hchta.-Laclede Bid,.
ST. LOUIS
30S LaSalle St
OHXOAOO
DEALT nr
CIRCULARS AND LIST ON APPUCATIQt
Twin City Rapid Transit 5s. 1988
Minnesota Transfer Ry. 5s. 1916
St. Paul Gas Light Co. 5s. 1944
City of St. Paul 4 Hs
Twin City Telephone Co. 1st 5s
Correspondence Invited on
all Northwestern Securities
WEIL, ROTH ft CO.
-
Bldg., St. Pend
MINNEAPOLIS.
Stevens, Chapman & Co.
BONDS
MINNEAPOLIS—8T. PAUL
M. St. P. ft S. Ste. Marie 4s
Duluth Missabe ft Northern 5s
Bondi Dakota Central 5s
Minnesota ft Ontario Power 6s
WELLS & DICKEY & CO
MINNEAPOLIS. MINN.
MUNICIPAL <4 CORPORATION BONDS
Twin City Rapid Transit System Bonds
Minneapolis National Bank Stocks
ROCHESTER, N. Y.
High Class 6% Bonds
50% Stock Bonus
Write for particulars
JOHN A. BURGESS
Member Rochester Stock Exchange
Railways, Electric Light and Power
Plants, Gas Plants, Financed,
Designed and Built.
London Correspondents:
G. WHITS A 00.9 Limited,
9 Cloak Lane. Cannon St.. B. C.
C. G. YOUNG
Methods,
SIXTY
Operation
WALL ST.,
NEW YORK
Public Utilities and Industrials
Reports for Financing
Dealers In
High-Grade Bonds
Mem. Am. Soc. C. B.
for Investment
H. U. WALLACE
ROCHESTER N. Y.
ENGINEER.
CINCINNATI
CHICAGO
FRIEDLANDER
EDGAR
DEALER IN
104-105 Wilder Bldg.
Electric
Plans,
CINCINNATI.
JWtfWWWVVWWy|...........>eae»e»aaaaAA«AAAAAAAAAAAAAAAAAAAAAAAt
Edwin White & Co.
Stats Savings Bank
Sin Francisco, Cal.
Investigations and Reports on Electric
Railway Gas, Electric Light and Power
Properties. Irrigation Systems, ftc.. for
Financial Institutions and Investors.
Engineering and Construction
Issues.
SAINT PAUL
Exchange Place, NEW YORK
Chicago, Ills.
MUNICIPAL
and other
HIGH-CLASS BONDS
INVESTMENT 00.
KANSAS CITY. MO
Engineers, Contractors
ST. LOUIS
-
43-49
William R.
W.
gttflttt****.
5%
Application
A. G. Becker & Co.,
INDIANAPOLIS
Fletcher Rank Bldg
Municipal Bonds
Allerton, Greene & King
TODD
NEWTON
Missouri & Illinois
Chicago Board of Trade.
List
INDIANAPOLIS
American Nat. Bank Bldg..
Cincinnati Securities
OHIO
CINCINNATI.
Examinations, Reports, Surveys, Supervision of
construction and operation of Electric and Steam
Railroads, Power Plants, Transmission lines.
Central Stations and Irrigation projects, <fcc.
Ex-Supt. Illinois Central RR.; Chief Engineer
Illinois Central RR.: and Gen'l Manager Chicago
Lake Shore ft South Bend Electric Railway.
CHICAGO ILL.
Marauette Bldg.
Esmond C. Van Dieat
Robert
Thomas L. Wilkinson
PROVIDENCE.
ALBERT P. MILLER Jr.
Associated Engineers Co.
Xxaminationf, Reports Construction, Operatic*
INDUSTRIAL TRUST CO. BUILDING
PROVIDENCE, R. I.
Local Securities
McF. Doble
Irrigation Enterprises a Specialty
DENVER. COLO.
U7Century Building
Beta Dished 1819.
Gas, Electric Lighting & Railway A.
Bonds and Stocks
L.
REGISTER
Suooeesors to Pepper
ft CO.
ft Register
ENGINEERS & GENERAL CONTRACTORS
lit North Broad Street
BO DELL &
905 TO 809 BANIQAN
CO.
PhlUdetpIrie.
'gaining gnginttxs.
BUILDING
PROVIDENCE
H. M. CHANCE
Consulting Mining Engineer and QeelegUt
Bonds and Preferred Stocks
of Proven Value.
GOAL AND MUTUAL PROPKBTHB
Examined, Developed, Managed
SST Drexel Bldg..
PH1LADELP HIA, PA
Till
THE CHRONICLE
(VOL.
LXXXII
Sanfrexs and Uxotuexs.
ERVIN & COMPANY
A. B. Leach & Co.,
BANKERS
BANKERS
(New York Stock
Exchange,
j Phila elphia 8toek £zchangei
,
members
Broadway, HEW YORK
149
BONDS
140 Dearborn Street, CHICAGO
FOR INVESTMENT.
Drexel
Building, Philadelphia.
Long Distance Telephone No. L. D. 107.
28 State Street, BOSTON
NATIONAL BANK
OF CUBA
Capital, Surplus and
Undivided Profits
Assets
Gash in Vaults - -
PARKINSON &, BURR
Branches
ST.. HAVANA.
228 MONTE ST., HAVANA.
PRODUCE EXCHANGE. HAVANA
84 GALIANO
MATANZAS,
SANTIAGO.
CAIBARIEN,
SAGUA LA GRANDBl
CAMAGUEY,
SANCTI SPIRITUS.
CRUCES.
GUANTANAMO.
SANTA CLARA,
PINAR DEL RIO.
CAMAJUANI,
Cl EGO DE AVILA,
BANKERS
Collections
7 Wall Street
63 State Street
NEW YORK
BOSTON
I embers New York end Chicago Stock Exchanges
HARTFORD
BANK
E. W. CLARK & CO.
in all Markets
TO
PRINCIPAL
Members Phila. and New York Stock Exchanges.
Interest allowed on deposits.
New York Correspondent.
B.Sk!
STOCK BROKERS
George P. Schmidt
100
and Boston Stock
Broadway,
-
Frederic Gallatin Jr.
Albert R. Gallatin
Exchanges.'
NEW YORK
111
5 NASSAU STREET. NEW YORK.
Established 1865
MEMBERS OF N. Y. STOCK EXCHANGE.
Allow interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds, and
deal In
MEMBERS N. Y. STOCK EX0HAHGE
WALKER BROS.
11 WALL STREET. NEW YORK
Members New York Stock Exchange
71
MEMBERS NEW YORK STOCK EXCHANGE.
Brokers and Dealers in
NEW YORK
INVESTMENT SECURITIES
HARTFORD, CONN.
JOHN H. DAVIS 6, CO.
Members N.
Y.
and
Phila.
Stock
Exchanges.!
Members
Deposits Subject to Checki,
1859
New
York Stock
Colgate & Co.
86 Wall
Street. New York.
Members
Investment
N. T. 8took Ex.
87
WILLIAM
STREET
NEW
YORK;
Simpson, Pearce
Members New York Stock
& Co.
Exchange
Bonds.
VICKERS & PHELPS
111 BROADWAY
NEW YORK
Telephones
4490-1-2-8-4 Rector
89 Wall Street. New York City.
Members of New York Stock Exchange
BONDS
Dash orders only In stocks accepted
W. H
Goadby & Co.
Bankers and Brokers
BO. 74
BROADWAY,
NEW YORK
interest paid on Time
E. & C. RANDOLPH
Members
Ill
New
York
Broadway,
Stock
New
Deposits and Savings Aeoounts.
Accounts of Banks, Firms, Corporation, and Indhidaals
solicited.
Wo are prepared to furnish de pod tors
ovary facility consistent with good banking.
MELLOR & PETRY
Stocks
Bonds, Investment Securities
I$4 SOUTH FIFTH ST., Philadelphia
NEW YORK 8T00K EXCHANGE
PHILADELPHIA STOCK EXCHANGE
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
BANKERS
111 BROADWAY, NEW YORK
DEALERS IN
Bonds and Guaranteed Stooka
Orders Executed In all Markets.
Exchange.
1910
Jas. B.
OFFICERS.
W. M. Ladd, President.
R.S.Howard Jr.. Asst.Cash
B. Cooktngham, Vw-Pres. J. W. Ladd, Asst. Cashiar.
W. H. Dunddey, Cash.
Walter M. Cook, Asst. Cash,
WEBB & CO.
Investment Securities
Especial attention given to supplying high-clast
INVESTMENT SECURITIES.
on
11 WALL ST„ N. V.
D. H. Schmidt & Co.
;
Orders for Stocks and Bonds executed upon al:
Exchanges in this country and Europe.
Interest Allowed
W. S. Tar bell.
J. S. FARLEE & CO.
EXCHANGE
BANKERS AND BROKERS.
No. 10 WALL STREET.
H. L. Finch.
BANK
OREGON
MEMBERS
INVESTMENT SECURITIES
J. S. Farlee.
Building
-
BROADWAY, N. Y.
Members N. Y. Stock Exchange
Commission
William Herbert & Co.
STREET,
General Banking and Stock
Nsrman S. Walker Jr.
John Y. G. Walker
Ex. Norton
Edwin P. Campbel
H. G. Campbell & Co.
II PINE
a
-
Established 1689
84 NASSAU STREET
Transact
&, TILTON
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
Exchange Business.
James G. MaoLean
Hanover Bank
Capital, 81.000,000
PORTLAND
HENDERSON & COMPANY
RAILROAD BONDS
GUARANTEED STOCKS
MEMBERS N. Y. STOCK
Acts as Cuban correspondent of American
banks and transacts a general banking bnslnass.
LADD
Broadway
McCURDY,
BANKERS
on
John E. Gardm l
▲lvln W. KrechlNew York Committee
James H. Post J
MEW YORK OUT
A, M. KIDDER & CO.
Bought A Sold
J. Prentice Kellogg
William A. Larned
Chas. H. Blair Jr.
Members N. Y. Stock Exchange
Private Wires to Boston. Hartford. New Haven4
and Philadelphia
Securities
76 CUBA STREET
SCHMIDT & GALLATIN
Tel. S500 Rector
Henry 0. Campbell
HAVANA
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
PHILADELPHIA
Thomas L. Manson&Co.
Y.
OF
BANKERS,
CITIES.
321 Chestnut St.
Members N.
Specialty.
Cable Address—Banconac
Miscellaneous Securities
WIRES
a
Sole Depositary for the Funds of the Republic •!'
Cuba
Member American Bankers* Association
760 Main Street
TELEPHONE 8070 JOHN.
PRIVATE
HOLGUIN.
NEW YORK AGENCY—1 WALL 8T.
C I. HUDSON & CO.
>Of. 84-36 WALL ST., NEW YORK.
900,684 60
8,681,379 19
-
-
HEAD OFFICE—HAVANA
CARDENAS.
CIENPUEGOS.
MANZANILLO.
Chertnot A 4th St, PHILADELPHIA
$6,256,922 21
j32
-
Exchange.
York.
Open Market Securities Department
HORACE HATCH. Manager.
Dealers In Investment and Other Securities
of the
United States and Canada
INVESTMENT SECURITIES
74 BROADWAY
-
-
-
NEW YORK
$tu (&smzxumzut Jcjcjcjoxmtaixt
P. O. BOX 87. MAIN OFFICE.
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES. BANES. RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA¬
TIONS.
TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC
ACCOUNTANTS*
OFFICES.
Sample Copy 15 oente. Per Annum $1 60
Oct. 32
chronicle
1010.]
IX
itotetit $onil inquiries.
giiuracixl.
WANTED
Cumberland Telephone &
Telegraph Co. Stock
SR*
BOUGHT AND SOLD
CJ/jewttal
GOULDING MARR
of
fjtoo Dtorit
La Orange Wat., Lt. & P. Co. 5s
Chic. & Milw. Breweries Stock
York-Haven Water Power Co. 5s
H-0 Subordinate Lien 3s
Delaware (0.) Water Co. 6s
Omaha Water Co. 5s & Stock
Alfred Light & Power 5s
New
Hampshire Elec. Ry. Pfd.
Kansas City Viaduct Term.
Broker
NASHVILLE,
TENN.
-
-
990 BROADWAY
Council Bluffs Wat. Wks. Co. 6s
Glens Falls Gas & Elec. 5s
H
Sk^dvin S. Schcodc. President
F+anqs A. Bacon Jr., Via^PrasMeat
Albion K. Chapman. Cashier
Jmn M. Salih. Asst. Cashier
Jamas McAllister. Asst. Cashier
W. M. Haloes. Asst. Cashier
'MUNICIPAL
RAILROAI)
)4%
> TO
,
„
Specialists in Inactive Bonds.
IT Stale ** ireel
Boston
WANTED
Selected tor Conservative Investors.
Upon
Lists
$2,550,660
Capital
Surplus and Profits $1,600,000
BONDS
) A%
CORPORATION
€.- Ppiller A Co.
Application
Lawrence Baraum & Co.
Atlanta Northern 5s« 1954
Youngstown ft Southern 5s. 1923
St. Lonis Rocky Mtn. ft Pac. 5s. 1955
Pere Marouette Common ft Preferred
N. E. Investment Sec’s. Preferred
Hartford Carpet Common ft Preferred
Regal Shoe Preferred Pope Mfg. Common
Waltham Watch Common ft Preferred
if-29
PINE
NEW
STREET.
Philadelphia
TORE
Washington
Pittsburg*
FOR SALE
...
„
BANKERS
Page Woven Wire Fence 5s, 1922
Indiana Columbus ft East. Tract. 5s, 1925
Lincoln (Neb-V Gas ft Elect. Lt. 5s, 1941
Detroit Port Huron Shore Line 5s, 1951
Butte Water Co. 5s.: 1921 i
Buffalo ft Susquehanna 1st
Pope Mfg. Preferred
~
4s, 1951
Hood Rubber Preferred
Ouanaj. Redact. ft Mines 6s ft Stock
Indiana Col. ft East. Traction 5s
Ouanaj. Pow. ft Elect. 6s ft Stocks
Youngstown ft Southern Railway 5s
Le&dville (Colo.) Water 4s
Lincoln Traction 5s
Houston Oil Common ft Preferred
14T Milk Street.
BOSTON
First Natl. Baak Bids
CHICAGO
5 Nassau Strest
New YORK
We offer for Investment
Securities of
Public Service Corporations
under the management
of our organization
to
FOR SALE
Butte Electric & Power Common
Hall Signal Common
WANTED
Buffalo Lake Erie Traction 5s
*
%
O.
*7 STATE STREET. BOSTON
Ry.ft Lt. 6s ft Underly. See’s
DEALT IN BY
FRANCIS, BRO. & CO.
(ESTABLISHED 1877)
Michigan
.
Railroad,
214 North 4th Street, ST. LOUIS
.
Municipal aUd Corporation
Stocks and Bonds
Our Manual
Bought and Sold
describing these companies will be sent
WM. HUGHES CLARKE
upon
United Rys. of St. Louis 4i
Union E* Lt.ft P.Od, ofSt.L. 1st 5s
Union El. Lt.ft P. Go. of St. L. Rif. 5s
Iodide OSS Go. of St. Loids 1st 6s
Laelede Gas Go. of 8t. Louis Ref. 6s
C. H. FARNHAM
•
■
HOTCHKIN 6k CO
SPECIALISTS IN I'ACTIVE SECURITIES
Stock Exchange Bldg., Boston
Telepuuue Maui 3440
Wheeling Traction 5s
Bellaire Bridgeport & Martins Ferry 1st
U. S. Envelope Common
yield
5% to 6Mb
k
F W. MASON & CO.
Springfield Fire ft Marine Ins. Co
request.
Detroit, Michigan.
Union Railway £ Qafl ft Electric
Portland Railway, Light ft Power
Memphis Street Railway
ALL LOUISVILLE LOCAL SECURITIES
S. C. HENNING & CO.
New York State Railways, common
Mohawk Valley Co.
GEORGE L. WARE
63 State
MALCOLM
STUART
SO Broadway,
NEW YORK
Telephone Main 084
LINDSEY WATER COMPANY
First 5s, 1919, Underlying 2d Mtge. Bonds
Telephone
153 Rector
George B. Atlee ft Co.
Bankers
WANTED
C. B. Van Nostrand
Si WALL STREET
Grand Rapids Ry. Co. 1st M. 5% Bonds, duo ISIS
OFFER
St. Joseph Railway* Light. Heat A Power Co.
1st Mortgage 5% Bonds, 1SS7.
Strother & Co.,
Sutton,
Calvert and German Streets
BALTIMORE
INDUSTRI
T1 Broadway
NEW YORK CITY
LOUISVILLE. KY.
WE OFFER
Stocks and Scrip.
Street, BOSTON, MASS.
US So. 5th St..
Members of Baltimore Stock Exchange
119 S. Fourth St.
Philadelphia
Nevada-California Power Co. bonds and stock
Denver ft N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas ft Electric 5s
Northern Idaho ft Montana Power Co.
.
JAMES N. WRIGHT & CO
DENVER, OOLO..
Specialize in Securities of
Bank and Trust
Company Stocks
NEW YORK AND BROOKLYN
BOUQHT AND SOLD
CLINTON
GILBERT
a WALL ST., NEW YORK
New River
Temple Iron
Klots Throwing
U
Chicago Subway
Scranton Railway
S. Lumber
Scranton Electric
Pa. Cent, Brewing
Scranton Gas A Water
Northern Electric
Now Mexico Ry.ft Coal Paint Crook Collieries
ftW. V. R. T. W. B. ft Wye. V. Tree
Spring Brook Water
Pa. Coal ft Coke
BROOKS & CO.,
GEO. B. EDWARDS
Buti<ja<iS. ,164 Nimu Street.
4215 Bookman,
NEW YORK. A. V
Negotiations,Investigation*, Settlements
out of New York
W
Satisfactory References
In
or
.
BANKERS
...
EMBERS NEW YORK STOCK EXCHANGE
423
Sprue# St.,
SCRANTON. PA.
»
*
•
3*C. N»t Bank BidJ.
W1I.KES-BARRE, PA.
V.-v
,t
* •*
Correspondents: EDWARD B. SMITH ft CO..
ST Pino ft.. Now York City.
6
Union Utilities Company 1st Mtge. 5s. 1944
Detroit & Pontiac Railway Cons. 4Hs, 1926
Spokane Terminal Railway Co. 1st 5s, 1917
Atlantic City Gas Company Stock
SAM U ELK. PHILLIPS
Members of
Philadelphia Stock Exchange.
We desire
offerings of free of
bonds
tax
ft CO.
PliitaMphia
421 Chwtnut St.
in
the
of
State
Pennsylvania
'
'■-’JlZ
'
i■
•
t*
.rn «Iuy
4:
-
■
WURTS, DULLES AOO.
lib 8,
FOURTH ST.*
PHILADELPHIA
Telephone Lombard 1050-1091
X
THE CHRONICLE
[VOL.
LXXXXI.
ttwcxtut Sjctu^ %wopAixU*.
r
York Brooklyn & Manhattan Beach Preferred Stock
Colorado Springs & Cripple Creek Cons. 5s, 1942
New Orleans Mobile & Chicago 5s, 1960
New Orleans Great Northern 5s, 1955
Macon Dublin & Savannah 5s, 1947
Union Elevated, Chicago, 5s, 1945
Pere Marquette Collateral 4s, 1923
Great Northern of Canada 4s
Florida West Shore 5s, 1934
\
Gulf & Ship Island 5s, 1952
Southern Indiana 4s, 1951
Central Vermont 4s, 1920
ew
AND ALL OTHER STEAM RAILROAD SECURITIES DEALT
IN
F. J. USMAN &
BROAD
COMPANY,
STREET,
First
Mtge. 4s, due 1949
BOUGHT AND SOLD
This company serves a population
of about 1,000,000,
including the
cities of Newark,
Jersey
City,
Hoboken, Elizabeth, Bayonne, the
Oranges and Montclair.
G, W. Walker & Co.
ToL 100 Broad,
95 Broad St., Now Took
Rock Island, Frisco Terminal
1st
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
United Electric Co. of N. J.
5s, due Jan., 1927
Seaboard Air Line, “Atlanta & Birin.”
1st 4s, due May, 1933
Atchison Transcontinental Short Line
1st Mtge. 4s, due
July, 1958
3UTRO BROS. & CO,
NEW YORK
Land Title & Trust Oo. Building, PHILADELPHIA
89 Pearl Stmt, HARTFORD
BANKERS
44 PINB STREET. NEW YORK
Member* New York Stook Exchange
Great Western Power 5s
Mason
City & Ft. Dodge 4s
Wis. Minn. & Pac. 4s
Kan. City Ft. Scott &
Memphis 4s
A. A. LISMAN &
Tal. 5950 Broad
WE OWN AND OFFER
Canton, 0., Electric Co. 5s, 1937
Lansing Fuel & Gas 5s, 1921
Michigan City Gas & Elec. 5s, 1937
Seattle Lighting Co. 6s, 1920
Canton, O., Electric Co. Pref. Stock
H. L. NASON A CO.
Bank
Building.
BOSTON, MASS.
New Haven 6s
Pennsylvania Gen. Frt. Equipt. 4s
Syracuse Rapid Transit 1st 5s
Public Service Corp. 3-year Notes
New Haven 33^s
Houston & Texas Cent. 4s
Manufacturers’ Water Co. 1st 5s
Central Pacific 33^
Continental Insurance
Fidelity-Phenix Fire Ins.
German-American Insurance
Home Insurance
Hanover Fire Insurance
Niagara Fire Insurance
.
INSURANCE DEPARTMENT
T. W. STEPHENS & 00
FREDERIC H. HATCH & CO.
BANKERS
New York
GEORGIA STATE AND MUNICIPAL
STREET, NEW YORK.
INVESTMENT BONDS
BONDS
Interest allowed
HILSMAN
& CO.
on
accounts of
Individuals and Corporations
UMPIRE BUILDING, ATLANTA. QA.
We offer
Columbus
Connecting & Term. 5s
Chicago & Western Indiana 4s
C. C. C. & St. L., Cairo Div. 4s
Colorado & Southern 1st 4s
Tol. 6527-8 Hanover
57 Wall St.. N. Y.
WE WANT TO BUY
Somerset Coal 5s
Fairmont Coal 5s
Kansas City Gas 5s
Wladikawkas Ry. 4s
Houston & Texas Central 4s
United RR. of San Francisco 4s
Wheeling & Lake Erie Eauip. 5s
Niagara Lockport & Ontario
J. H. BECKER A CO.
Tel. 985 Rector
80
Broadway, New York
BONDS
Mtge. 5% Sink. Fund Gold Bonds
due November 1st 1954.
Price 90 & int.
Yielding 5.60%.
Exempt from taxation in New York State
BURGESS, LANC a CO.
Private
BOSTON
Philadelphia
Providence
WE OFFER SUBJECT TO PRIOR SALE—
Baldwin Loco. Works 5s. 1940, at 101 & int.
Peoria Gas & Elec. 1st 5s, 1923. at 100^ & int.
Rochester Gas & Elec. 5s, 1912, at 100 & int.
Sou. Ry. Equip. 4Ms (Ser. H), 1914, at
4.80%.
L. S. & M. S. Deb. 4s. 1931, at 933^ & int.
Norfolk & Western Div. 4s. 1944, at 93 % & int
Omaha (Neb.) Gas 5s, 1917, at 973^ & int.
Northern Indiana Gas & Elec. Preferred for bid.
West End Trust Bldg.. Phila.. Pa.
Member* ot the Philadelphia Stook
Exchange
Telephones. /Bell-Sprue*91-91.
I Keystone-Race 205
Long Island 4s, 1932
Long Island Con. 4s, 1931
Oregon Short Line 5s
Chic. & West. Indiana 6s, 1932
Chicago & North West 7s, 1915
Wire
BOSTON
50 State Street
CO..
BLAKE & REEVES
Tel. 1504 John
84 Pine Street. New York
Telephone 2417-8-9 John
Mt*
OFFERINGS WANTED
Sub. Gas Co. of Phila. 5s, April 1952
Dan. Ur.&Chm.Ry. Co. 5s,Mch. 1923
Peoria Gas & El. 5s, January 1923
2^ Cons. Gas of Pittsb. 5s, Feb. 1948
Edward V. Kane & Co.
MORRIS BUILDING, PHILADELPHIA.
Telephones,Bell-Spruce
Baker, Ayling & Company
50 Congress Street
Private telephone between New York and Boston
Power Co.
NEW YORK
34 Pine Street
Boston
30 Broad Street
REED A. MORGAN &
$25,000
First
FERRIS 4 WHITE,
4s
West. N. Y. & Pa. 1st
Mtge. 5s
Choctaw Okla. & Gulf Cons. 5s
Norfolk & Western Equipment 4s
WE BUY AND SELL
H.
Richmond-Washington Go.
55 Cedar Street
NEW YORK
2 WALL
J.
400 Chestnut Street. Philadelphia.
CO.,
95 Broad St.. New York
Shawmut
LIBBEYaSTRUTHERS
Robt.Glendinning &Co.
CURTIS a SANGER
N.Y..Bovton&Chicago Stock Exchange*
49 Wall Street
Boston
First 6s,
Yielding 6%
Pingree, McKinney & Co.
8
Congress Street,
Boston
3782. Keystone,Race 630.
Amer. Telephone Coll. Tr. 4s, 1929
Penna. RR. Co. Conv. 33^s, 1915
Schwarzschild & Sulzb. Deb. 6s, 1916
Western Pacific Ry. Co. 1st 5s, 1933
Member*
Whitney Power &
Company
Electric
NEW YORK
Realty Associates
Metropolitan Bank
Coal & Iron National Bank
LUTZ
&
COMPANY
Bank and Trust Co. Stocks.
Chicago 25 Broad St., N. Y.
Tel. 273 Broad.
a
O0T. 22
1910.]
THE CHRONICLE
xi
&nxKmt gjmta IttqttiBie*.
**
**
~*
•
4
Madison Trust Go. Stock
Saratoga Association Stock
Pearson’s Magazine Stock
Houston & Texas Central 1st 5s, 1937
Cons. Wat. Go. of Utica Oen. 5s, 1930
Mex. Intemat. 1st 4s, 1977 (stamped)
Railroad Securities 4s, 1952
Practical
assurance:
1st—As to the safety of the money Invested, which depends upon the credit of
the Company Issuing the obligation and upon the
underlying security.
2nd—As to the continuance of Interest payments, which depends upon the earn¬
Syracuse Oas Co. 1st 5s, 1946
Portland Ry. Co. 1st Ref. 5s, 1930
Keokee Cons. Coke Co. 1st 5s, 1959
Glide,Wlnmlll
&Co.
BANKERS
20 BROAD STREET, N. Y.
Telephone 445-6-7 Rector
Republic Iron & Steel 1st 5s, 1934
Northern Pacific 3s, Registered
Lehigh Valley General 4s, 2003
N. Y. 0., Lake Sh. Col. Tr. 334s, 1998
Erie RR. Prior Lien 4s, 1996
Pittsb. Cin. Chic. & St. L. 4s, 1945
NEWBORG & CO.,
MEMBERS N. 7. STOCK EXCHANGE
60 BROADWAY. N. Y.
Telephone 4390 Rector.
Cable Addrese,
••NEWROSB”
PRIVATE WIRE TO ST. LOUIS
Arnold Print Works 6s, 1913
Schwarzschild & Sulzberger 6s, 1916
Western Electric 5s, 1922
Paint Creek Collieries 5s, 1956
Lack. & Wyo. Val. R. T. 5s, 1951
York Haven Water Pow. Co. Bonds
Buff. & Lake Erie Traction 5s, 1936
O’Gara Coal 5s, 1955
Western Pacific 5s, 1953
MEGARGEL & CO.
BANKEBS
5 Nassau Street
NEW YORK
Western N. Y. & Pa. 5s, 1937
Chicago West. Indiana 4s, 1952
St. L. Iron Mt., River & Gulf 4s, 1933
Mexican Cent. Equip. 5s, 1914-1917
Seaboard, Atlantic & Birm. 4s, 1933
Investments,
Suitable for the average business man or those who desire to invest surplus funds safely and
advantageously, should fulfil certain fundamental requirements. The Investor should have
ing capacity of the Company.
3rd—As to his ability to liquidate the Investment before maturity, If necessary,
which depends upon the market and the stability of price.
We have prepared a list of carefully chosen bonds which we can recommend for personal
investment, and which yield at present prices a liberal rate of income.
Circular No. B-7 will be sent upon request.
Guaranty ofTrust
Company
New York
28 Nassau
Street, New York
Branch Offices
5th Ave. & 43d St., New York
33 Lombard St., London, E. 0
OFFERINGS WANTED
North American Bldg.,
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell Walnut 22-90
Keystone Race 4-99
Brooklyn Union Gas 5s, 1945
Central Union Gas 1st 5s, 1927
Lex. Ave. & Pav. Ferry 5s, 1993
Columbus & 9th Ave. 1st 5s, 1993
New Mexico Ry. & Coal 5s, 1947
2nd Ave. Cons. 5s, 1948, Tr. Co. Ctfs.
Tel. 1986-6-7 Rector
J. K. Klee. Jr. & Co. Will
100
194
150
50
50
100
GILMAN & CLUCAS
City & Pacific 334s, 1936
So. Ry., Memphis Div. 5s, 1996
West Jersey & Seashore 4s, 1936
Railway Equipment Issues
Dealers in High-Grade
Investment Bonds
FREEMAN A COMPANY
34 PINE STREET. NEW YORK
1st Nat. Bank Bldg..
Members New York Stock
20
Broad
Exchange,
St.
New
York.
Private wire to Philadelphia.
34 Pine Street
NEW HAVEN, CT.
NEW YORK
Telephone 5089 John
The
character
of
the
men
operating
in
gold district is the best
assurance
Railroad and Other
the
Investment Bonds
of the wisdom
WARREN, GZOWSKI & CO.
C. K. B. WADE
Tel. 6744 Hanover
49 Wall Street.
25 Broad Street, New York.
Toronto.
Lex. Ave. & Pav. Ferry 5s, 1993
Florida East Coast 1st 434s, 1959
Kan. & Colorado Pacific 6s, 1938
Hudson & Manhattan Securities
Fonda Johnst. & Gloversv. 434s, 1962
Equipment Bonds and Car Trusts
Swartwout &
Appenzellar
BANKERS
WOLFF & STANLEY
Members N. Y, Stock Exchange
]o$epb0lalbers$on$
Safety Car Htg. & Ltg. Stock
J. K. Rice, Jr. & Co.
Sioux
34 WALL 8T
Brie RR. Consol. 7s, 1920
Buy
American Brass Stock
Borden’s Milk Com.
General Motors Com.
H. W. Johns-Manville Com.
H. W. Johns-ManvUle Pfd.
20 Broad St.. N. Y
of investing in legitimate enterprises in this camp.
Kansas City Southern 5s, 1950
N. Y. Cent.—Mich. Cent. coll. 3Hs, 1998
Lehigh Valley Terminal 5s, 1941
New Haven Deb. 4s, 1956
Erie RR.. Long Dock Co. 6s, 1935
Edison Eiec. Ilium, of Brooklyn 4s, 1939
N. Y. Lake Erie & Western 7s, 1920
Superior & Duluth 4s, 1936
Northern Ohio 1st 5s, 1945
Worcester Consol. St. Ry. deb. 4Ms. 1920
N. Y. Susq. & Western Ref. 5s. 1937
Western Power Com.
Western Pacific Ry. Stock
Wm. Cramp’s Ship. & Eng. Bldg. Stock
■Phones 7480 to 7466 Hanover. S3 Wall St.. N.Y.
PORCUPINE
DOUGLAS FENWICK & CO.
American Express Stock
Phelps Dodge & Co. Stock
Singer Manufacturing Stock
We have GOOD MARKETS in unlisted and in¬
active securities and respectfully invite inquiries.
PATERSON & CO.,
Tel. 7760 1-2-3 Hanover
87 Wall Street
NEW YORK
Tel. John 109
100
50
30
100
118
100
R. M. Stinson & Co.
EYER & COMPANY
New Orleans Mobile & Chicago Bonds & Scrip
New Mexico Railway & Coal 5s
Central New England Securities
Auburn Gas 1st 5s, 1927
Mobile Light & Railroad 5s and 6s
Chicago & Alton 3s
West Kentucky Coal 5s
J. K. Rice, Jr. & Co. Will Sell
Evansville Gas & Elect. 1st Mtge. 5s, due 1932
Decatur Ry. & Lt. Co. 1st Cons. 5s. due 1933
Danv. Urb. & Champ. Ry. 1st M. 5s, due 1923
NEW YORK CITY
44 Pina Street
CITIES SERVICE CO.
Stocks
PACIFIC GAS & ELECTRIC CO.
Tel. 6557 Broad
27 William St.. N. Y
FOR SALE
HUDSON COUNTY GAS CO.
1st 5s, Nov, 1949
Stocks
Bought and Sold
LAMARCHE & COADY,
Tel. 5775-6 Broad.
35 Broad St.. N. T.
W. E. R. SMITH & CO.,
SO Broad Streot
-
-
N«f lark
Pere Marquette Consol. 4s
Florida West Shore 5s
Philadelphia & Reading 7s, 1911
Coffin & Company
NEW YOBK.
OFFER
Chesapeake & Ohio, Big Sandy 4s
Washington Central 4s
Duluth So. Shore & Atlantic 5s
St. L. Iron Mtn. & Southern 5s
Indianapolis & Louisville 4s
Ogdensburg & Lake Champlain 4s
Florida Central & Penin. Cons. 5s
Denver & Rio Grande 434s
Texas & Pacific 1st 5s
Balt. & Ohio, Southwest Div.
3ys
Chicago City & Connecting 5s
Western Pacific 5s
Minneapolis & St. Louis 5% Notes
St. Louis & San Fran. 434% Notes
Western N. Y. & Pennsylvania 5s
Cincinnati Hamilton & Dayt. Incomes
Lehigh & N. Y. 1st 4s
New Haven Debenture
and 4s
WERNER BROS. & GOLDSCHMIDT
Tel. 4800-1-2-3-4-5 Broad.
~i
25 Broad Street, N« Y«
XU
THE CHRONICLE
.
LXXXir
|£itxatxjciacl.
This advertisement is
published
the entire
as a matter of record, as ue have sold to investors
$1,000,000 of this issue of Preferred Stock.
I
$1,000,000
| Pierce, Butler & Pierce Manufacturing Co.
Syracuse, N.
Y.
it;.
-
.
7% Cumulative Preferred Stock
Par value of
shares, $100 each. Dividends payable quarterly, January 1, April 1, July 1 and October 1. Re¬
whole, but not in part, on any interest date prior to July 1, 1913, at 110 and accrued
dividend, and
at any time after that date at 115 and accrued
dividend, on 60 days’ prior notice.
Preferred both as to assets
and dividends over the Common Stock, and no dividends
can be paid on the Common Stock in any year until all
accumulated dividends have been paid on the Preferred Stock.
The Pierce, Butler & Pierce
Manufacturing Co. is one of the oldest and most widely known con¬
cerns engaged in the manufacture and distribution of steam and
hot-water heating apparatus and sani¬
tary plumbing supplies. The present Company was incorporated in 1886, having
developed from the
firm of S. P. Pierce & Sons, established in 1839.
deemable
as a
Capitalization
AUTHORIZED
7% Cumulative Preferred Stock
ISSUED
$2,000,000
3,000,000
Common Stock
$1,385,000
1,500,000
*
Of this amount $385,000 is to be used to retire
existing issues of 6% First Preferred Stock and
7% Second Preferred Stock. For the past five years the earnings of the Company have averaged
more than TWO AND ONE-HALF TIMES the annual dividend
requirement on the $1,385,000 7% Pre¬
ferred Stock now issued, or at the rate of 17.6%
per annum.
Descriptive circular, containing letter of Mr. William K. Pierce, President of the Company, fur¬
nished on application.
ALBANY, N. Y.,
BOSTON, MASS.,
CHICAGO, ILL.,
State and James Streets
-
-
-
-
-
50
-
-
Congress Street
115 Adams Street
Spencer Trask & Co.
43
Members New York Stock
Exchange Place, New York
Exchange
gittanxial.
ATLANTIC COAST LINE CO.
(of Connecticut)
Mexican Northern Railway Co.
STOCK
82
Controls A. C- L. and Louisville & Nashville R. R.
System.
PAYS 10% DIVIDENDS
Details
on
Application
COLSTON, BOYCE & CO.
BALTIMORE
We
own
$
and offer
,
Issued
by Counties, Cities,
Towns and Boroughs
R. M. GRANT & CO.
BANKERS
31 NASSAU STREET
NEW YORK
GUSTAVUS MAAS
WfoxtitjcA.
Information Wanted
of holders of bonds Nos. 326 to 350 of
the NORTHWESTERN COAL & IRON
COMPANY, dated October 6, 1883.
Address Fidelity Trust Company, 325
Chestnut Street, Philadelphia, Pa.
A YOUNG MAN, graduate of Columbia Uni¬
versity Law School, with large European con¬
nections, wants a position with an international
financial concern to get the experience.
Is
thoroughly acquainted with European conditions
and knows four modern languages well.
Address
“M. H.,” care Commercial & Financial Chronicle,
P. O. Box 958. N. Y. City.
SO BROAD STREtT
Established 1868
.
Telephone 1528 Rector
FOR SALE
500 Shares
Cram£ Ship &, Engine Bldg. Co.
Vofihg Trust Certificates
BEAVER STREET.
New York, October 14th, 1910.
To the Bondholders of the
Mexican Northern Railway Company:
Of the original issue of SI.660.000 In
par value
of bonds, all except $708,000 in par value have
been retired by operation of the Sinking Fund
provision of the Mortgage.
The principal of the
remaining $708,000 will become due on December
1st, 1910.
The Company is willing, pursuant to agreement
made between the Company and the Trustee of the
Mortgage, to extend any or all of such remaining
outstanding bonds until December 1st, 1930, and
to pay interest thereon at the rate of six
per cent
during the period of extension. The holders of
upwards of three-fourths of such outstanding bonds
■
Municipal Bonds
OFFICE OF THE
BOND SALESMAN
EXPERIENCED
IN
CONNECTICUT
FIELD, WANTED BY PROMINENT NEW
YORK BOND HOUSE.. ADDRESS. STAT¬
ING EXPERIENCE. “X. Y. Z ." CARE
CHRONICLE. P. O. BOX 968 Ni Y. CFTY.
have elected to have their bonds so extended.
The Company will, upon presentation of
any of
the remaining bonds at its office, No. 82 Beaver
Street, New York City, on or before December 1st,
1910, at the holder’s option, either (1) extend
by endorsing thereon the certificate of
extension and affixing new coupons
covering the
period of extension; or, (2) purchase such bonds,
paying principal and interest to date therefor.
Interest on all bonds not so extended or pur¬
chased by the Company will cease on December 1st
1910, on and after which date such bonds will be
redeemed upon presentation at the office of the
Guaranty Trust Co. of New' York, No. 28 Nassau
same
Street.
ROBERT E. SAFFORD,
Secretary.
|pte*titx0s.
A l. U S-C HAL.V. E R SCO M P A N Y.
71 Broadway, New York City.
October 6th, 1910.
To the Stockholders of the
ALLIS-CHALMERS COMPANY.
The Annual Meeting of the Stockholders will be
held at the principal office of the Company in the
State of New Jersey. No. 15 Exchange Place,
Jersey City, on Thursday, the 3rd day of Novem¬
ber, 1910, at twelve o’clock noon, for the purpose
of electing directors to succeed those whose terms
of office then expire, and for the transaction of such
other business as may properly come before the
meeting.
The Preferred and ; Common' Stock transfer
books will be closed at the close of business on
Thursday, the 13th day of October, 1810, and will
remain closed until Monday,* the 17th day of
October, 1910, at 10 o’clock A. M,
W. W. NICHOLS. Secretary.
...
Got.
xin
THE CHRONICLE
221910.]
'
,
IglwmxiaX.
$3,000,000
Indianapolis & Louisville Railway Company
Chicago,
“
IMonon
Route ”
Bonds
Refunding Mortgage 4% Gold
Series “ C ”
Dated April
1st, 1910
Interest
Payable January and July
Due July 1st, 1947
First
Central Trii3t Comiany of Naw York, H. Y., Trustee
$15,000,000
*'
Issued $12,700,000
Of the issued bonds $4,703,003 bear interest at the rate of 6% per annum; $5,000,000
at 5%; and $3,000,000 at 4%.
The balance is reserved to retire $2,300,003 Louisville, New Albany & Chicago
Railway Company, Chicago & Indianapolis Division, First Mortgage 6% bonds due August
Authorized
;
: ■* ■-,A '
;:
' ‘’■ ■
ist, 1911.
■;
•
; ”
"
-
•.
first mortgage on 346.85 miles of road,
extending from New Albany near Louisville, Kentucky,
The issue is secured by a
of which is the main line
288.86 miles
to Michigan
City, Indiana, and a lien on 161.94 miles subject to the $2,300,003 prior liens above men¬
tioned, and within 10 months will be a first lien and only mortgage on the entire main
line of the Company aggregating 508.79 miles of road at the rate of less than $30,000
per
mile.
These bonds are listed on
the New York Stock Exchange.
Having sold over two-thirds of the
portion subject to prior sale at 95
above issue we offer the unsold
and interest to yield over 4/4%.
Special Circular containing copy of a letter from Mr. Fairfax Harrison,
Indianapolis & Louisville Railway Company, and a map of the system
President of the Chicago,
had upon request.
may be
Potter, Choate
& Prentice
Stock
Exchange
Members N. Y.
55 Wall Street
New
Telephone 6200 Broad
T—
& Co.
EXAMINATIONS and REPORTS
218 La Salle Street,
CHICAGO
Portland. Ore.
Mobile, Ala.
Oklahoma City, Oklahoma.
gttttdcnHs.
~
H.
M.
& COMPANY
Managers
Engineers
Chicago
The Board of Directors of the OKLAHOMA
GAS & ELECTRIC COMPANY of Oklahoma
City, Oklahoma, declared a quarterly dividend of
one and three quarters per cent (1 H%) upon the
^
*
•
preferred stock
payable by
stockholders of
of the Company,
check October 15th, 1910, to
record as of the dose of business
September 30th.
1910.
ROBERT J. GRAF. Assistant
Capital Stock, payable October 31, 1910. to the
Stockholders of record at the dose of business
THE GUANAJUATO POWER & ELECTRIC CO.
Hagerman Bldg., Colorado Springs, Colo.
PREFERRED DIVIDEND NO. 9.
A dividend of One and One^Half Per Cent
(1 X%) upon the Preferred Stock of this Company
has been declared, payable November !, 1910,
to stockholders of record on the books of the
Company on that date.
The transfer books will be dosed on October 20,
1910, and reopen on November 1, 1910.
LEONARD E. CURTIS. Treasurer.
FEDERAL SUGAR REFINING CO.
New York, Oct. 17th, 1910.
regular Quarterly Dividend of ONE AND
ONE-HALF PER CENT (1H%) on the Preferred
Shares of the Federal Sugar Refining Company
will be paid on October 31st, 1910, to the stock¬
holders of record as they appear at the close 6f
business on October 29th,1 1910. ' The transfer
books will not be dosed.
A. H. PLATT, Secretary.
Secretary.
.
THE PULLMAN COMPANY.
DIVIDEND NO. 175.
A quarterly dividend of Two Dollars
from net earnings will be paid November
stockholders of record at
October 31, 1910.
Checks will be mailed.
to
A. S.
Office of
H. M.
Engineers
The
BYLLESBY & COMPANY
Chicago
Board of Directors of
ATCHISON TOPEKA & SANTA FE
RAILWAY COMPANY.
New Y<fi*k, October 4, 1911).
The Board of Directors has declared a dividend
(being dividend No. 22) on the COMMON STOCK
of this Company of ONE DOLLAR AND FIFTY
THE
CENTS ($1 50) per share, payable December 1,
1910, out of surplus net income, to holders of said
COMMON STOCK registered on the books oi, the
Company at the close of business on. November 4
1910.
Dividend checks will be mailed to holders of
COMMON Stock who file suitable orders therefor
at this office.
C. K. COOPER, Assistant Treasurer,
5 Nassau Street, New York City.
AMERICAN
THE
Managers
the SAN DIEGO
CONSOLIDATED GAS & ELECTRIC COM¬
PANY of San Diego, California, has declared a
quarterly dividend5 of one and three-quarters
per cent (1 H%) upon the preferred stock of the
Company, pay&ble' hy Check October 15th, 1910,
to stockholders of record as of the dose of busi¬
ness September 30, 1910.
ROBERT J. GRAF, Assistant Secretary.
per share
15, 1910,
close of business
WEINSHEIMER, Secretary.
Chicago, October 20,
THE H. B.
CLAFLIN COMPANY.
N. Y., Oct. 18, 1910.
of One and One-Quarter
First Preferred Stock,
One-Half Per Cent (1H%) on the
Church & Worth Sts.,
Stock of this Company
Preferred capital stock
beginning August 1,
payable by check
November, 1910, to stock¬
per share upon the
of this Company for the period
and ending October 31, 1910,
$1 50
on the 15th day of
holders of record at Three ’oclock P. M.,
31st day of October, 1910.
Owners
on the
of inch
Preferred stock evidenced by certificates issued in
the name of any other person should have the
same transferred on the books of the Company
will be
paid November 1st, 1910, to holders of record at
the dose of business Monday, October 24, 1910.
D. N. FORCE, Treasurer
certificates Issued in their own names
M., of October 31,
1910,1^ they desire dividend checks made payaple
on or
A quarterly dividend
Per Cent (1J4%) on the
and One and
Second Preferred
DIVIDEND NOTICE.
Pacific Gas & Electric Company
Notice is hereby given that a meeting of the
Board of Directors of this Company has been
called for Three O’clock P. M., on October 3t/st,
1910, for the purpose of declaring a dividend of
and new
191Q.
NATIONAL
EXCHANGE
BANK.
October 18th, 1910.
At a meeting of the Board of Directors of this
bank, held to-day, a semi-annual dividend of
FIVE (5%) PER CENT on the capital stock
was declared, payable November 1st, proximo,
to stockholders of record at close of business
October 20th, 1910.
WALTER H. BENNETT, Cashier.
New York,
The
Office of
BYLLESBY
Office of
THE CONSOLIDATION COAL COMPANY
Baltimore, Md., October 8th 1910.
The Board of Directors have declared the
regular quarterly dividend of 1M par cent qn its
October 24. 1910.
The transfer books will be dosed at 3 o'clock
P. M. October 24, and will be reopened at 10
o’dock A. M. November 1, 1910.
Dividend checks will be maflea.
T.R. STUART, Assistant Treasurer.
ENGINEERS
"
gtvtdtnA*.
Uitrtrtmjds.
H. M. Byllesby
York, N. Y.
to
before Three O’clock P.
themselves.
D. H.
Secretary of the
FOOTE,
Pacific Gas & Electric Qp.
PACIFIC POWER & LIGHT
COMPANY.
Broadway, New York, N. Y.
PREFERRED STOCK DIVIDEND NO.
71
A dividend of
ONE AND
THREE-QUARTERS
(1 M %) PER CENT on the outstanding Prefc
AMALGAMATED COPPER COMPANY.
Stock of Pacific Power & Light Company forr,
42 Broadway, New York, Oct. 20,1910.
quarter ending October 31, 1910, has been, de¬
At a meeting of the Directors of the Amalga¬
UNITED DRY GOODS COMPANIES.
clared, payable November 1, 1910, to preferred
mated Copper Company a dividend of One-Half of stockholders
Hoboken, N. J., October 18 1910.
of record on October 24, 1910. pn
One Per Cent (M of 1%) was declared, payable
A quarterly dividend of Two Per Cent (2%)
which date the books for the transfer of!the
November 28th, 1910, to stockholders of record
wil be paid November 1st, 1910, to holders of the
preferred stock will close, to be reopened on
on the books of the Company as of 12 o’clock
Common Stock of United Dry Goods Companies
November 1, 1910.
October 29th, 1910.
of record at the close of business Tuesday, October noon,
GEORGE F. NEYINS, SecretaryA, H, MELIN. Secretary and Treasurer.
25th,
I?iq.
MmM ELY. Secrmry.
tlY
THE CHRONICLE
[VOL.
LXXXXl.
$1,200,000
COLORADO SPRINGS LIGHT, HEAT
& POWER
First &
COMPANY
Refunding 5% Gold
Bonds
(This is the entire amount of the issue
outstanding)
Dated August i, 1910.
Due August 1,192a
Coupon Bonds of $1,000, $500 and $100
denominations, which may be registered
Coupons payable February 1st and August 1st.
as to
principal.
BUSINESS OF THE COMPANY
The COLORADO SPRINGS
LIGHT, HEAT & POWER COMPANY controls the entire
gas, electric light and power business in Colorado
tire electric light and power business in Manitou. Springs and Colorado City, together with the en¬
The Company also does a
large steam-heating
business in Colorado Springs.
In addition to commercial
lighting, the Company enjoys a favorable contract for
electric lighting with Colorado
municipal
Springs until September, 1923, with Colorado City until
September,
1919, and with Manitou until March, 1918.
LIEN OF BONDS
These Bonds, in the opinion of
Counsel, are secured by a first mortgage on the valuable
Pike's Peak Hydro Electric
property and by a first mortgage on all the balance of the
of the Colorado Springs Light, Heat and Power
property
Company, subject only to $1, 300,000 first 5s
previously issued by the Colorado Springs Electric Company and the Colorado
Springs Light and
Power Company.
FRANCHISES
In the
opinion of Counsel, all the franchises under which the
Company operates extend well
beyond the maturity of the bonds herein offered and are without burden
>ome restrictions.
EARNINGS
For the year
ended June 30th, 1910, net earnings were more than sufficient
5% on All Outstanding Bonds, together with
6% on the Entire Issue of $1,000,000 Preferred
6/6%
We have
the Entire Issue of
on
Full
Land Title
Stock, with
$1,000,000 Common Stock
already sold about $900,000 of this issue, and
W/z and Interest,
Yielding
to pay
now
offer the unsold balance at
an Income o! About 594%.
Descriptive Oircular Mailed
Bertron, Griscom
upon
Request
& Jenks
Building,
Philadelphia
40 Wall
19 Boulevard des
Paris
Street,
New York
Capucines,
Quotation Section
Railway Earnings Section
Bank &
Railway & Industrial Section
Electric
Bankers* Convention Section
State
Railway Section
and City Section
NO. 2365.
SATURDAY, OCTOBER 22 1910.
VOL. 91.
October 15.
Week ending
Clearings at—
Inc. or
Dec.
1909.
1910.
1907.
1908.
PUBLISHED WEEKLY.
Terms of
Subscription—Payable In Advance
$10 0#
Por One Year
6 00
For Six Months
13 00
7 50
European Subscription (Including postage)
European Subscription six months (including postage)
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
£2 14 s.
£1 11s.
$11 50
Subscription includes following Supplements—
B \nk and Quotation (monthly)
Railway and Industrial (quarterly)
Railway Earnings (monthly)
Terms of
Standing Business Cards
J bankeks’ convention (yearly)
Advertising—Per Inch Space
Transient matter per inch space
( Two
UnoiTiMD Carri*
| State and Cirr (semi-annually)
( Electric Railway (3 tunes yearly)
$4 20
22 00
(14 agate lines)
Months
(S times)
)
Three Months (13 times)
slx Month8
(.
Twelve Months (52 times)
29
00
50 00
^6 times)
87 00
CHICAGO OFFICE—Pliny Bartlett, 513 Monadnock Block; Tel. Harrison 4012
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
COMPANY, Publishers,
Front, Pine and Depeyster Sts..
New York.
WILL IA UK B. BAN A
P. O. Box 958.
Published every Saturday morning by WILLIAM B.
Jacob Seibert Jr., Vice-President and Secretary; Arnold
Addresses of both, Office of the Company.
DANA COMPANY.
G. Dana, Treasurer.
CLEARING-HOUSE RETURNS.
table, made up by telegraph, &c., Indicates that the total
bank clearings of all clearing houses of the United States for week ending
to-day have been $3,511,041,293, against $2,882,593,390 last week and
$3,653,092,416 the corresponding week last year.
Cincinnati
Cleveland
Detroit..
Milwaukee
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids..-
Kalamazoo
Springfield, 111...
Fort Wayne....
Akron
Lexington
Rockford
Youngstown
....
Canton
Bloomington....
South Bend
Decatur
Springfield, O
Quincy
Mansfield
Jacksonville, Ill.
Jackson
Ann Arbor
Danville
Adrian
Lima
Saginaw
Lansing
27.442,700
18.372,229
17.444,823
13,211,258
Clearings—Returns by Telegraph.
Week ending October 22.
New York
Boston
_
1910.
1909.
$1,764,788,573
$1,912,058,428
—7.7
163,548,728
136,172,646
29,659,022
244,117,091
73,056,211
18,067,012
150,644,389
130,082,773
24,910,722
246,996,923
73,583,180
17,716,662
+8.6
+4.7
+ 19.1
$2,429,409,283
$2,555,993,077
—5.0
Oakland
Helena
Sacramento
San Diego
San Jose!
Fresno
Stockton
North Yakima..
529,918,769
516,271,418
+2.7
Billings
Tacoma
.
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
Seven cities, 5 days
Other cities, 5 days
Total all cities, 5 days
All cities, 1 day
+2.0
$3,072,264,495
580,827,923
$3,653,092,418
—3.7
—5.0
—3.9
covered by the above will be given next Sat¬
We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day
of the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday,
urday.
noon,
October 15, for four years.
Week
ending October 15.
Clearings at—
1910.
New York
Philadelphia
Pittsburgh
_
_ _ _
Baltimore
Buffalo..
Albany.
Washington
Rochester
Scranton
....
.
Syracuse
Reading
Wilmington
Wilkes-Barre
...
Wheeling..
Harrisburg
York
Trenton
Erie
Chester
Binghamton
Greensburg
....
Franklin
Altoona
1909.
Inc. or
Dec.
1908.
1,853.406,865 2,089,234,546
2,384,303,950
—23.6
165,194,083
8,939,900
3,722.450
2,783,404
2,328,667
2,200,099
2,959,785
1,392,676
1,262,134
541,032
474,653
178,720,028
9,760.200
3,452,975
2,995,341
—7.6
—8.4
151,618,137
8,873,400
+7.8
3,538,331
—7.1
2,600,000
1,862,092
1,885,764
1,413,086
—10.5
+ 18.2
+ 57.0
2,622,357
2,112,873
1,591,106
1,766,444
1,266,658
1,330,378
540,393
609,449
191,798,883
205,169,706
—....
Springfield
Portland
Worcester
Fall River
New Bedford....
Lowell
Holyoke
Total New Eng
1907.
$
$
S
$
%
1,544,367,805 2,119,084,243 —27.1 1,631,634,903 1,815,268,073
151,860,091
—2.6
117,190,556
143,127,771
139,370,637
50,452,261
41,208.601
+4.2
47,239,202
49,241,818
30,441,662
23,454,355
+
46.2
30,298,788
44,305,009
10,010,857
—9.6
8,265,451
9,843,769
8,895,616
6,170,158
6,118,500
5,438,934 +21.4
6,603,879
6,185,770
5,768,200
+0.6
6,979,594
7,022,485
3,750,720
—2.6
3,520,321
4,169,387
4,062,333
2,298,371
2,147,869
2,321,885 + 12.0
2,600,739
2.732,237
2,005:660
+6.5
2,111,111
2,249,596
1,573,617
—4.8
1,571,953
1,748,801
1,664,403
1,282,278
—2.6
,357,796
i,566,872
1,526,999
—9.7
1,180,473
1,119,563
1,396,157
1,261,302
1,273,130
—5.2
1,528,205
1,866,631
1,768,078
i;i40,351
—8.3
i;i75',868
1,257,384
1.153,009
—7.7
890,771
803,710
1,006,558
929,736
—18.7
1,593,699
1,870,958
1,521,888
726,503
663;506
'745,998 +22.0
909,238
655,646
473,763
476,594 +25.2
596,230
561,000
504,500
439,700 + 12.5
494,600
514,672
502,858
+5.5
576,653
608,143
265,905
—4.0
241,379
250,000
240,000
550,649
486,960 + 16.9
569,067
Total Middle.. 1,821,962,610
Boston
Providence
Hartford
New Haven
173,547,048
10.818,800
3,480,753
—22.1
951,321
547,079
411,809
2,672,557
2,182,818
2,334.637
1,875,662
1,320,581
1,121,870
599.522
507,116
—6.5
175,299,509
200,461,364
—1.5
—5.1
+0.1
Spokane
Pftsadena
551,713,241
$3,511,041,293
Total all cities for week
—1.2
—0.7
$2,959,328,052
...
The full details for the week
Per
Cent.
Tot. Mid. West
374,722,877
47,181,612
16,252,314
12,998,174
11,900,000
6,532,513
5,948,720
5,342,329
3,089,187
844,455
1,581,531
i:300,000
669,220
773,724
613:902
564,204
149,661
540,000
1
Total Pacific.
_
Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Duluth
Des Moines
Sioux City.
Wichita
Lincoln
116,281,546
60,099,058
27,896,551
17,482,144
10,828,747
10,537,294
6,476,231
4,497,336
4:050,000
3,324,984
Topeka
Davenport
Cedar Rapids...
Fargo
Sioux Fplls
Colorado Springs.
Pueblo
Fremont
3,621,241
1,834,081
1,317,674
1,456,857
1,010,000
1,048,640
1,414,211
742,935
465,701
344,114
Tot. oth. West.
St. Louis
New Orleans
Houston
Louisville
Galveston
Richmond
Atlanta
158,447,799
76,031,277
21,539,465
18,842,573
11,003,530
10,060,500
7,141,344
14,764,258
6,965,314
9,932,952
Memphis
Savannah
Fort Worth
8,099,287
Nashville
Norfolk
4,297,469
3,283,775
Augusta
Birmingham
3,475,011
2,784,400
2,000,979
2,621,008
2,567,895
1,729,273
1,816.323
1,652,723
Little Rock
Jacksonville
Charleston
Knoxville
....
Chattanooga
Mobile
Oklahoma
Macon
Beaumont
Austin
....
...
.....
2,660,861
1,300,000
650.000
1,979,782
Wilmington, N.C
492,345
352,000
545,000
792,331
Total Southern
219,379,675
Vicksburg
Meridian
Jackson
8,775,775
+3.8
+4.$
+3.1
+8.6
6,269,100
—1.4
4,392,429
3,000,853
2,703,316
2,069,269
—2.3
+$.4
+0.3
2,711,884
2,002,413
2,190,899
2,252,243
1,249,242
1,374,850
880,271
968,749
987,283
1,029,013
740,000
882,400
804,668
707,871
772,305
919,788
868,373
1,406,848
775,000
969,710
554,981
602,852
613,072
545,794
420,063
492,000
501,275
552,020
655,000
611,125
395,678
356,557
336,305
283,143
325,000
341,250
202,558
197,484
329,749
368,367
21,534
30,070
357,597
389,518
523,318
774,523
398,690 Not Included
The following
San Francisco...
Los Angeles
Seattle
Portland
Salt Lake City..
—6.1
—18.$
274,159,831
4,292,206
3,163,868
Dayton
Evansville
%
$
$
257,497.083
22,359,400
19,077,816
18,225,506
13,622,830
9,533,896
6,179,800
Chicago
.
—3.1
+2.8
+ 10.0
+ 10.1
+4.3
+ 19.2
—12.0
+ 19.0
+61.9
+25.1
+8.6
—11.1
+ 15.5
+ 10.2
—6.7
—9.9
—15.8
+5.0
—2.5
+ 11.7
+39.6
+8.9
+48.0
f
246,526,148
24,901,600
15,255,295
13,786,173
12,395,316
8,125,329
6,204,000
3,478,097
3,078,525
2,281,318
1.725,094
2,181,066
052,810
914,312
811.438
715.000
605,292
612,813
955,733
659,025
536,513
520,403
419,573
452,298
587,610
334,152
258,588
305,718
165.884
340,062
30,260
305,000
S
269,612,170
27,900,000
19,698,306
15,116,355
13,127,986
8,118,176
5,900,600
4,220,379
3,654,708
2,659,961
2,020.860
2,301,829
1,131,696
1,001,408
840,919
927,000
745,911
729,336
723,711
604,162
482,348
567,910
519,637
480,394
452,960
397,401
273,417
309,312
146,953
31,824
380,000
in total
—4.5
392,347,754
+7.9
43,711,833
12,704,160 +27.9
—8.1
14,141,832
+9.8
10,839,588
7,569,846 —13.7
—7.8
6,448,349
—6.0
5,681,071
1,885,333 +63.9
1,015,938 —16.8
1,166,104 +35.6
921,000 +41.1
—2.2
684,574
646,303 + 19.7
581,033
+ 5.5
461,892 +22.3
290,184 —48.4
+8.0
500,000
349,420,445
41,373,467
10.886,989
10,678,462
8,609,387
5,998,319
4,915,919
+6.4
109,249,040
56,559,439
+6.3
32,807,777 —14.9
+ 5.6
16,554,282
12,117,954 —10.6
—4.4
11,021,438
—2.9
6,672,035
7,293,127 —38.3
+9.8
3,690,318
2,932,508 + 13.4
2,931,499 +23.6
1,587,393 + 15.6
1,467,203 —10.2
—0.4
1,462,854
1,122,473 —10.0
—9.1
1,153,385
985,000 +43.6
+ 6.8
695,714
651,430 —28.6
412,342 —16.5
93.318,740
43,822,146
31.746,518
13,434,859
10,085,237
9.178,569
5,200,480
101,297,037
39,933,762
37,790,911
13,449,946
3,117,067
2,953,807
1,384,114
1,340,264
3,287,000
2,551,603
1,540,983
1,329,888
1,089,151
1,192,065
868,586
832,699
690,000
853,363
744,987
452,674
162,118,171
—2.3
74,873,354
21,244,125
14,192,939
+ 1.5
+ 1.4
+32.8
12,654,551
7,945,000
7,433,826
14,212,892
8,419,056
10,124,596
7,719,743
3,537,952
3,355,556
3,667,755
2,836,508
2,400,669
1,937,357
2,308,478
2,012,367
—13.0
128,941,552
68,533,462
16,057,051
15,501,727
10,974,939
8,504,500
6,441,3^7
6,462,514
6,134,891
6,013,081
7,605,768
3,117,349
2,331,197
2,438,479
2,103,217
1,976,334
1,599,999
1,566,093
1,341,807
1,719,376
1,583,635
+5.6
+4.4
+6.1
+26.6
—3.9
+3.9
—17.3
—1.9
+4.9
+21.5
—2.1
—6.2
—1.8
—16.7
+35.6
+ 11.2
—14.1
2,508,639
1,514,924 —14.2
—1.8
661,924
906,375 + 118.4
343,368 +43.4
+9.2
320,549
512,000
+6.4
685,685 + 15.6
211,632,999
+3.7
3,984,974
1,717,374
1,085,022
385,075,629
47,513,938
12,485,702
10,868,065
9,191,239
6,873.311
5,397,725
3,744,898
2,446,876
1,414,654
967,226
882,000
535,677
634,889
557,837
272,907
218,291
706,606
654,023
10:928,537
10,015,437
5,709,615
1,205,443
1,162,345
908,710
938,741
780.000
802,715
558,698
321,839
133,261,197
76,693,064
19,000,945
16,396,177
13,924,973
1,585,038
1,325,376
1,324,129
918,516
594,263
803,607
418,000
7,945,000
6,742,190
6,587,727
6,688,621
7,253,406
5,203,278
6,242,681
2,980,242
4,215,626
$.376,394
1,886,99
1,484,453
2,054,433
1,657,817
1,567,351
1.410.494
1,350,687
1,064,796
500,468
436,000
410,000
630.000
176,518,994
195,857,820
2,882,593,390 3.464,821.626
—16.8 2,776,896,101 3,105,790,593
Outside N. Y. 1,328,225,68511,345,737.377
—ii 1,145,261,201 1.289.919.520
Total all
Note.—For Canadian ClearingB see "Commercial and Miscellaneous
News.*'
1058
THE
CHRONICLE
OUR RAILWAY EARNINGS ISSUE.
We send to our subscribers
to-day the October;
number of our “Railway
Earnings” Section. In this
publication we give the figures of earnings and ex¬
penses for the latest month of every
operating steam
railroad in the United States, big and
little, which is
required to file monthly returns with the Inter-State
Commerce
over
Commission
800 roads
more
or
at
Washington—altogether
systems, comprising an aggregate of
than 235,000 miles of line.
persons, particularly as general trade is in a very
state and net earnings of our railroads are
quiet
pretty
generally beginning to show losses, owing to the great
rise in expenses. But
rightly understood, there is
nothing very remarkable about the change for the
better
on
the Stock
lxxxxi.
prognostigations and prophecies are likely to prove
On that
assumption the present experience
is simply a
repetition of that of 1896, when William
J.
Bryap for the first time appeared as a Presidential
candidate and the two great political
parties joined
issues on the question whether
gold or silver /was to be¬
correct.
come
the
monetary standard in this country.
The first effect of Mr.
Bryan’s nomination on that
occasion was to cause consternation and
alarm from
one end of the
country to the
other; but it was seen as
August that the defeat of the silver candidate
was certain.
The Stock Exchange
accordingly began
to discount the event in a
record of advancing prices
dating from Mr. Bryan’s spectacular trip to the East,
with the purpose of
taking possession of the “enemy’s
country.” After his speech in this city on Aug. 12
1896, fears concerning the possibility of his election
were
dissipated, and a rise in prices was inaugurated
which continued until Election
Day and far beyond.
On that occasion, as on the
present, the larger finan¬
cial interests bought with
great persistency and courage,
early
THE FINANCIAL SITUATION.
The revival of speculation on the Stock
Exchange,
and the great rise in share values which has
occurred
during the last two weeks, seems strange to many
[Yol.
as
Exchange. Wall Street is dis¬ on a knowledge of what was to
come, while the smaller
counting the future as it always does—it is discounting investors and
speculators
bought in only a hesitating,
the improvement in the
political situation which the halting way, and could not realize or
appreciate that
November elections are expected to
signalize and fore¬ the doom of the heresy had
already been sounded.
shadow. For over a year the
political clouds have
been thickening. Now the sky is
expected to clear.
One or two of the most notable and
successful
novels
The leaders in the financial world have
good sources of Mr. Winston Churchill (the American of that
of information on politics as on
name)
everything else, and are based upon the pretty general belief that the Bos¬
their advices are to the effect that
Election Day next ton & Maine Railroad has
swayed New Hampshire
month will mark the doom of the New
Nationalism politics and controlled its
Legislature. The story is
and the emphatic rejection of
Rooseveltism in this good and
attractively worked out, and it uses for fiction
State.
what
has been supposed by many
people to be fact.
The belief is firmly entertained that
John A. Dix, Now Mr.
Mellen, lately elected President of that road,
the Democratic candidate for Governor, will over¬ and
himself a resident of Concord for
many years of
whelmingly defeat Henry L. Stimson, the Republican his
early life, spoke to a club in that city on Thursday
candidate, whom Mr. Roosevelt picked out for the
night on the political situation in New Hampshire.
honor of holding the office. The fact
that in the He assured his hearers that the
company will hereafter
betting the odds are so strongly in favor of Dix is do
not in accord with the soundest public prin¬
nothing
evidence of the confidence felt in that
regard. More¬ ciples; that it will not in any manner interfere with
any
over, in the estimation of the leading financial
election whatever, will not offer,
interests,
indirectly or directly,
there is ground also for the belief that
the political vic¬ any consideration which
may influence a public officer,
tory will not end with the result in this State. In¬ and that it will do
away with the lobby as that term
deed, it would be a rather barren
triumph if the is usually understood.
Rooseveltites should be
signally rebuked in this State,
But Mr. Mellen added that “we
must, however, em¬
and President Taft, the defender and
upholder of the ploy the ablest talent we can secure to present
to the
Roosevelt policies, should be left with a
free hand to Legislature our views
upon pending legislation affect¬
carry out these policies through the
receipt of. a ing our company,” and he specified the subject of taxa¬
political endorsement in the elections in other States.
tion; he is ready, he said, to have the Boston & Maine
Confidence exists that the radical
element in the taxed precisely as other
property is taxed (not other¬
dominant party will receive a most severe
castigation wise), and he said that New England now needs more
throughout the greater part of the country—in other efficient
transportation above all other boons.
words, that the Roosevelt doctrines and
The
policies,
point which most impresses us is that a railroad
whether noisily proclaimed
by Mr. Roosevelt himself, is forced to employ representatives to
present its side
or
quietly but no less determinedly enforced and in
respect to legislation concerning it. It is a popular
pushed by President Taft, will go down all
along notion that railroad and insurance corporations are
the line.
persistent and corrupt lobbyists, but how can they let
If this should
prove true, it would
undoubtedly af¬ legislatures alone while legislatures will not let them
ford occasion for great
rejoicing and furnish a genuine alone? Every session of every
legislature produces
basis for a rise in values. For it would
mean that
railroad and insurance bills by the
hundred, the pro¬
radicalism, which has been the bane of the business cess never once
intermitting; what can be done about
world for so long, had at last received a
definite check— it? These bills are either in the class of
those framed
that the
movement, instead of spreading any
-
'
was now
to recede.
further, by somebody in the well-meant, although misconceived,
desire to protect the public from
corporations, or else
in the class which are “strike” and are offered
solely
to be corruptly bought off.
The proportions of these
two classes need not be discussed,
but many of these
It may be that the financial
world
is too confident in all
this, and may meet with dis¬
appointment. If so, a violent reaction will
follow.
But past experience
supports the idea that current
4
Oot. 22
1810.]
THE
..
CHRONICLE
undertakes injudicious
things, private persons will always be ready to work
bn the part of the corporation affected would certainly for it, on hire, at its own risk.
When private capital is asked to undertake risks on
be construed as consent, if not tacit approval; to appear
and offer argument in opposition is therefore an im¬ its own account it insists on some reasonable room for
profit, but we have a Commission much possessed with
perative defence.
*
The man who follows the natural, hasty impulse to the notion that private capital can be coerced to hard
denounce this defence as being corrupt lobbying should terms if only kept off long enough, and also much de¬
ask himself what he would do if his own private busi¬ termined to secure municipal commitment to a scheme
of its own. Thus, the city is in position to once more
ness were menaced by some bill at a State capitol.
Speaking in the manner of sportsmen, the “season” is consider whether this costly Commission has accom¬
always “open” as to corporations; they are considered plished anything except to trouble existing transit
fair game always, and the feeling about them has grad¬ companies and defer building more subways.
ually become so distorted that the presumption of inno¬
October invariably brings an advance in the value
cence has shifted into a presumption of guilt and of
willingness to do wrong. Common repute, industri¬ of loanable capital at the principal financial centres.
ously wrought upon by demagogues, is that they pre¬ It is well to keep this elementary fact in mind when dis¬
fer evil and would not be satisfied with not being at¬ cussing the monetary developments of the current
tacked. To come back to belief that a corporation is month, and particularly of the present week. These,
made up of men, and therefore has only the faults of however, have been sufficiently important to war¬
men, and that it would rather be right and do right rant serious consideration, though no alarm need be
and is entitled to favorable presumptions—this is the indulged in. The Bank of England, finding that the
needed change of opinion.
4% discount rate which it declared on Sept. 29 last
had failed to protect its reserves, on Thursday an¬
If there is unanimous agreement in this city upon nounced an advance to 5%.
Even this figure is no
any one proposition, it is that the people here “want” higher than was named on Oct. 21 a year ago, while it
is 2% below the autumn maximum of 1907 and 1%
more subways and have wanted them ever since the
opening of the existing one, six years ago, took public below the rate announced in this week of 1906. Taken
approval by storm. ' But a notion soon sprung up that by itself, therefore, the 5% minimum, it will thus be
the city made too easy a bargain, and that for the fu¬ seen, is by no means unprecedented. Nor is the
ture it must be very careful to put more risks upon Bank’s ratio of reserve to liabilities, 46%%, apprecia¬
private capital and leave it veiy reduced chances of bly below the average at this time during the last dec¬
profit; that subways are so admirable a business en¬ ade. But there is another phase of the situation that
terprise that the city must beware of parting with any explains the action taken. During the last three weeks,
advantages of its own position. So came the Elsberg or since the 4% rate has been enforced, the Bank’s
law, which succeeded perfectly in keeping private cash on hand has fallen more than $36,000,000, bring¬
capital out of the field. The idea of municipal owner¬ ing the percentage of reserve down from 50%% to
ship, offering the attractive proposition that the city 46%%; a month ago the ratio was 53%%. Indeed,
ought to keep all for itself and share nothing, obtained the stock of bullion held by the institution has not been
so low, save in 1906, for ten years.
a strong hold, and the Public Service Commission has
Nor is this all.
The
Egyptian demand for gold has already, materially
practically served to strengthen that idea. In fact,
exceeded
the estimated requirements of $30,000,000,
as everybody knows and deplores, new subways have
stayed halted, while bridges already begun but not and shipments are still going forward in very large
volume—in addition to the $11,025,000 reported by
connecting with anything have been finished.
With the law such that construction either by public our special correspondent in London as having been
sent this week, it is understood that approximately
or private capital is permitted, bids have been invited
from private capital for construction of the Tri-borough $5,000,000 more will be exported to-day. Further¬
scheme, to which the Commission has been rather more, India has entered the market, and the trade and
ardently committed, and when the bids were figur¬ agricultural activity in that country is calculated to
atively opened, on Thursday, the occasion was figura¬ necessitate the shipment of extensive sums during the
tive as well as suggestive, for there was not even one final quarter of the current year.
In raising its discount charge, the Bank of England
bid, although there was a letter from one large con¬
tracting company explaining why it did not bid. The can scarcely hope to avoid its responsibility for financ¬
reason was a difference in views about the terms, for ing both the Egyptian and the Indian crops.
But
the opinion capitalists may have concerning the busi¬ by bringing about dear money in London, the withdrawals of gold by Continental centres that have been
ness expediency of the Commission’s plan as respects
the good of the city would not prevent offering to build going on for some time can be stopped. Moreover,
it as a business enterprise upon satisfactory terms. there is a probability that a gold inflow will be started
The split was mainly upon giving private capital prefer¬ from Paris, and perhaps from other points, including
South America. All danger of demands for the metal
ence in time in using income for interest and amortiza¬
tion payments before any such use on behalf of city from New York will also be removed; as a matter of
fact, sterling exchange has already advanced lc. per
money invested.
Bids for construction with city funds may be abun¬ pound from last week’s low level, and there is even talk
dant next week; if the city is committed to doing such of the possibility of gold exports to London should
work, no consideration of the unwisdom of doing it will European holders of American securities continue to
or should operate to deter private capital from offer¬
liquidate as freely as they have done during the current
ing, in the capacity of contractor, upon remunerative week. It may be recalled that when the London inconceived either in hostility or in ignorance,
and in either case are mischievous in effect. Silence
feills
are
terms.
If
a
municipality
1060
stitution, exactly
THE
CHRONICLE
[Vol.
lxxxxi.
advanced its rate from and is even larger than during the
easy-money period
4% to 5%, New York speculators were blamed in cer¬ of
1908, while no such sum was ever owned in any pre¬
tain quarters, but it cannot be
seriously contended that vious year. London can depend, therefore,
upon all
Wall Street has
complicated matters on this occasion, reasonable assistance from Paris. The National Bank
for there has been no undue
borrowing abroad for of Belgium on Thursday announced an advance in its
stock market purposes, inasmuch as the call
money rate from 4%% to 5%, and private discounts at Brus¬
rate here has ruled easier than the discount rate in
sels have moved
up correspondingly, but the Amster¬
London, while to-day long-term loans can be obtained dam and Vienna
quotations are not above the official
in New York cheaper than bills could be discounted at
charge of 4%. Viewing tfc e European monetary situation
the other side. To our mind, the
marking up of the as a whole, there would appear to be every
reason for
London Bank rate is to be regarded merely as seasona¬
acting cautiously, but not for becoming at all uneasy.
ble, particularly when it is remembered that British
trade, as measured by imports and exports, is breaking
In the United States interest rates
have not become
all previous records, as we point out in a
subsequent any firmer than was anticipated, while the Associated
paragraph. Fortunately, there has been a striking Banks in New
York, instead of reporting the deficit
diminution in the applications for new capital in Lon¬ that had
been feared during the last two
weeks, were
don for the exploitation of rubber, oil and otfter
prop able last Saturday to show an increase for the
erties of unproved merit, while
speculation on the week of $4,182,450 in actual
surplus, bringing
Stock Exchange, after the feverish boom earlier in the the
total up to $11,170,275. The outflow
to the
year, has subsided to normal proportions.
The in¬ interior has lately fallen off
considerably, and this
ternational exchanges are now all
moving in favor of week there has been only a moderate loss incurred
the British capital, so that no
complications should in operations with the
Sub-Treasury. Nor has call
arise.
money again touched the 3%% rate recorded a week
ago, while, instead of time money
on the
Turning to the Continent, it is natural to find firmer developments abroad, accommodationstiffening
was obtainable
rates for money than
prevailed during the summer on Thursday slightly under the rates
charged on the
months. A good deal of attention was attracted to
previous day. Five and six months’ facilities are
the banking position in
Germany by the address de¬ freely offered at 4%%, with transactions not infre¬
livered by the President of the
Imperial Bank when quently made below that figure. The more active
the discount rate was raised from
4% to 5% fully three trading in stocks has not entailed
any pronounced in¬
weeks ago. But since the October 1st settlements
crease in
borrowing by brokers; in fact, money is still
were effected,the Reichsbank has
greatly strengthened remarkably dull for the latter part of
October, and,
its resources. This week’s return shows a
gain in cash though the upward movement in stocks has carried
of nearly $13,000,000, while discounts have been cur¬
prices above the August maximum, the public has
tailed by nearly $40,000,000 and note circulation
by not participated on a scale that presages a wild boom.
fully $38,000,000, bringing the latter slightly below The
dispute over financing the cotton crop having
the total outstanding a
year ago.
Yet it would not been settled to the satisfaction of all
parties, the
be extraordinary should the Berlin Bank
rate, fol¬ trouble that was apprehended on this score has been
lowing the advance in London, be advanced from 5% eliminated, thus
affording another cause for congratu¬
to 6%.
Private discounts there have this week risen lation. The
quietness in general trade, the absence
to 4%%, and there will be considerable
demands for of important new
financing and the widespread aver¬
accommodation around the
beginning of November. sion of our leading financiers to embarking
upon am¬
The necessity for caution
having been fully recognized bitious new enterprises all make for comfortable con¬
throughout Germany, however, the prospects are ditions in the
money market. The sudden rise in
that acute stringency will be avoided. Paris
main¬ foreign exchange from 4
85% last week to 4 86% this
tains its distinction of
being much the easiest money week for demand sterling, in conjunction with the talk
market in the world. The local
municipal loan of of impending stringency in London, has revived dis¬
$47,000,000 was over-subscribed no fewer than thirty cussion of
possible gold exports, but it would be well
times, and it is now reported that the long-delayed to
keep in mind that our merchandise shipments are
Turkish loan of $30,000,000
may be floated in Paris, always very heavy during October and November—
as
originally proposed. Notwithstanding these de¬ so heavy, indeed, as to make
gold imports the usual
mands and also, it might be
added, moderate borrow¬ thing in the closing months of the year. Our inter¬
ing for American account, discounts have all along national bankers do not look for
any outward move¬
ruled below the Bank rate of
3%, a rate that may be ment of gold in the near future.
Provided, therefore,
adhered to even in face of the advances
made else¬ recklessness be avoided in Stock
Exchange speculation,
where. This week’s Bank of France
statement shows there is no manifest reason
why interest rates should
only a nominal loss ($320,000) in gold holdings, and rise to excessive levels.
an expansion of
$46,000,000 in bills discounted is
accompanied by an even larger increase ($56,000,000)
After protracted negotiations between American
in general
deposits, reflecting, of course, recent finan¬ bankers and Sir Edward H.
Holden, representing
cial transactions. Paris will no doubt be
willing to European bankers, arrangements have been made to
spare gold for London, just as it has at other times
market and finance cotton on the
one year ago,
present system until
31; thereafter the bills of lading to be insured
either by a new company formed for the
purpose or
by a combination of existing surety companies. This
($667,000,000) is decision, arrived at early in the week, means that no
this time last year, trouble can arise over
handling the cotton crop during
when the difference in the value of
money at the re¬
spective centres has rendered such a movement de¬
sirable and profitable. The amount of
gold now
carried in the French bank’s vaults
very much greater than it
was
at
Dec.
Oct. 22
the
1910.)
THE CHRONICLE
remainder of the current calendar year,
even
is improbable, any difficulty occur m con¬
organizing a guaranty company accepta¬
ble to British importers of the staple. About one-half
of our exports of cotton normally goes forward between
Sept. 1 and Dec. 31; thus last year 3,701,682 bales
were
shipped abroad in these months out of the total
of 6,326,998 bales for the entire cotton year, while in
1908 4,608,981 bales were exported during the same
period out of 8,582,078 bales for the full year from
Sept. 1 1908 to Sept. 1 1909. No anxiety need there¬
fore be felt over the immediate outlook.
Nor, indeed,
are
considerable doubts entertained regarding the
feasibility of supplying a satisfactory guaranty after
the expiration of the present method. Already five
leading American surety companies, having an aggre¬
gate capital of $17,700,000, have offered to give indi¬
vidual and joint guaranty of bills of lading on export
cotton at a rate of 6c. per bale. A separate organization,
it is said, may be formed by English banking interests
who believe that the business of guaranteeing cotton
bills should prove very profitable, a view not incon¬
sistent with past experiences, even though safeguards
were then
wanting. In an official statement issued
on Tuesday Sir Edward Holden said that so
many
bankers in the interior States had agreed “to a guar¬
anty, by a guaranty company, surety company or
insurance company, being given to the European
should,
as
nection with
of
the
inhabitants
1061
were
rendered
destitute.
The
tobacco crop has apparently been
the sugar plantations have been
severely damaged,
partly ruined, the
banana fields did not escape, and the loss sustained
by
other fruit crops is also placed at a very large sum,
although no trustworthy data are obtainable.
Stormy weather was also held responsible for
hastening the disaster that overtook the attempt of
Walter Wellman and his five assistants to cross the
Atlantic in his dirigible balloon, “America.” This
monster
airship, after three months’ preparations,
City on Saturday, well equipped
with provisions, the intention being to follow as
nearly
as possible the northern route of
European steamers.
But after drifting northwards until Sable Island was
almost reached, northerly winds were encountered,
and the balloon was carried almost directly southward
towards Bermuda. Very early in the voyage serious
trouble was caused by the ponderous equilibrator,
which, striking against the waves, jerked the frail craft
so violently
that the crew expected to be wrecked at
After having been in the air for about
any moment.
seventy-one and one-half hours, during which a dis¬
tance of fully one thousand miles was covered, the
party were rescued north of Bermuda by the steamship
Trent” after a perilous adventure in launching the
“America’s” life-boat and maneuvering alongside the
bankers” that he had recommended an extension of steamer. The balloon was equipped with wireless
the temporary arrangement from Oct. 31 to Dec. 31. apparatus, and was able to communicate at first with
“The European bankers,” he added, “have agreed to the shore, and later with the rescuers, this being the
this extension on the understanding that the right first time that this means of communication had been
is reserved to them to further consider in conference employed by any airship. Undiscouraged by the fate
with the American bankers, if found necessary, other of this attempt, Mr. Wellman and those who accom¬
schemes of protection, if the guaranty or insurance pro¬ panied him declare that they mean to build another
posals should be found to be impracticable.” Sir balloon for the same purpose, and that this week’s
Edward sailed for Europe on Wednesday, taking with experience will greatly increase their chances of suc¬
him the proposal of our surety companies to act in a cess. It cannot be said, however, that in the present
syndicate to guarantee cotton bills. In banking cir¬ stage of the science of aviation, the project appears to
cles relief is expressed that the controversy has been be feasible. Excitement was caused in Europe by the
adjusted on lines agreeable to all parties, for had the flight last Sunday of a large dirigible balloon, carrying
English bankers refused to accept bills after Oct. 31 seven passengers, from Paris to London in six hours.
disturbances in our money market, already none too
The remarkable expansion in our own foreign trade
strongly situated, might have been difficult to avert.
One effect of the settlement was a sharp advance in during September was eclipsed by that of Great
sterling exchange on the theory that cotton bills will Britain. The British exports last month were greater
not now be pressed upon the market.
than any corresponding month in the country’s his¬
tory, the total reaching £36,964,261, an increase of
A very severe storm has visited the southeastern £4,163,337, or 12.7%, oyer a year ago, while for the
shores of the United States, causing widespread dam¬ nine months the aggregate exports have reached a
age throughout the Florida peninsula and playing value of £318,577,044, an increase over 1909 of
havoc with the Island of Cuba. A cyclone, accom¬ £41,239,730, or 15%. The grand total for the calen¬
panied by extremely heavy rains, struck Cuba late last dar year of 1910 is now expected to exceed the record
week, and on Sunday the storm became so violent of £426,000,000 attained in 1907. Imports have
that hundreds of buildings were unroofed, sugar and passed the figures of 1907, the aggregate for the nine
tobacco plantations were partly destroyed, food crops months having been £487,311,888, against £475,132,000 three years ago.
were spoiled, while communication by land and sea
Re-exports have likewise ex¬
was
completely demoralized. On Tuesday Florida panded so that the net imports for the current year
experienced a wind having a velocity of more than 80 have been £408,870,600, as compared with £402,885,miles per hour, torrential rains fell,and much destruc¬ 000 in 1907. The excess of imports over exports has
tion was caused at Jacksonville and other ports. been £90,000,000, against £84,000,000 in the first
South Carolina was threatened, but on its way north¬ three quarters of 1907. It need scarcely be explained
ward the storm passed out to sea on Wednesday. that Britain consistently imports more merchandise
Accidents to steamships and smaller craft were than she exports, in this respect being very differently
reported, yet the loss of life was remarkably small. situated from the United States. But Britain derives
Cuba, Key West and other parts of Florida suffered an enormous yearly income from her investments
most, the situation in Cuba being so grave that many abroad, from her great mercantile marine and from
sailed from Atlantic
1062
THE CHRONICLE
m ate
her world-wide
—
=
=
—
[Vol.
-
.
lxxxxi.
-
The September movement of
banking operations, whereas America is
gold in either direction
debtor nation, pays out large
sums for marine trans¬ was moderate, and on balance our gain of the metal
portation and does very little banking for other was
$1,659,242, reducing the net outgo for the nine
countries.
months to $9,346,577.
In September 1909 net ex¬
a
ports reached $5,195,284 and the nine months7 total
Our
foreign export movement of merchandise for on the same side of the account was
$66,167,441. On
September 1910—as the advance statement of ship¬ the other hand, in the nine months of 1908 we
imported,
ments of leading articles, issued last
week, led us to in¬ net, $77,945,750 gold.
fer—exceeded in value the aggregate for the corre¬
sponding period in any preceding year, and, further¬
more, gave the largest total for any month since De¬
cember of 1909. Concurrently, imports were
appre¬
ciably less than in August and moderately smaller
than for September a year ago, so that the net result
was a
comparatively large balance in our favor, which
contrasts with more or less important balances
against
us in five out of the
eight preceding months. More¬
over, whereas for the eight months ended Aug. 31
1910 our imports of commodities had been
nearly a
million dollars in
excess
of exports,
the favorable
re¬
sult in
September turned the balance at the end of
that month to the other side of the account
by 50%
millions.
This, nevertheless, is the smallest export
balance for the nine-months period
ending Sept. 30
since 1895, when an import balance was
shown—being
not
only much lower than that for 1909, but making a
decidedly poor comparison with the 432% millions of
1908 (the record result, made
possible by the decided
diminution in imports following the
panic of the fall of
1907), or with years back to and including 1898. Still,
the gratifying exhibit for
September can be taken as
indicative of the immediate future, for with our more
bountiful crops moving out freely at full
values, and
our
export trade in manufactures quite steadily in¬
creasing, favorable balances seem to be assured for
some
months to
The official
come.
Mr. Thomas R. Ellison's annual review of the cotton
trade, issued in Liverpool this week, indicates that
consumption in Europe in 1909-10 has been smaller
than in any season since 1903-04.
But
was the natural conclusion
foreshadowed
from month to
as
that result
by the figures
month, it calls for no special comment
here, particularly as the details, as received by us by
cable, are presented on subsequent pages of this issue.
Considerable interest attaches,
however, to Mr. Elli¬
son's estimate of
requirements of cotton for the cur¬
rent season (1910-11,
Oct. 1 to Sept. 30) on account
of the apparent
divergency of opinion as to the ade¬
quacy of the prospective new supply to meet con¬
sumptive needs without encroaching upon the existing
reserves.
In our opinion there is no reason to doubt
that supplies will be ample,
especially at the current
high range of values (all the contributing countries
promising much better crops than a year ago), and
Mr. Ellison, according to the estimate he
submits,
is seemingly of the same mind, his
investigations lead¬
ing him to assert in effect that without lower prices
there is little probability of improvement
in the cotton
goods trade. Mr. Ellison estimates that Europe and
the United States (including amounts
shipped hence
to Japan, Canada, &c.) will
require 14,400,000 bales
of ordinary weights, equaling
13,884,000 bales of
500 lbs. net each, to meet
consumptive needs, and leave
foreign trade figures made public this stocks at the mills at the close of the season the same as
week indicate that exports for
September 1910 were they were at the opening. This estimate allows for an
nearly 15 millions of dollars above the total of last augmentation of 501,000 bales of 500 lbs. each in the
year and 29% millions greater than in 1908, the month's
aggregate consumption of the countries named for
aggregate having been $168,858,093. Shipments of 1910-11, but calls for not more than
11,500,000 bales
leading articles (cotton, breadstuffs, provisions, &c.), from America, or practically the same amount as con¬
as pointed out
by us last week, were only % of a mil¬ sumed in 1909-10. Present indications are believed
lion dollars greater than in
September 1909, the gain of to be for an American crop well in excess of that
figure,
8% millions in cotton being largely offset by loss:s and
consequently
if
Mr. Ellison's conclusions are ac¬
in the other commodities.
It follows, therefore, that
cepted, any fears of a shortage of supplies would seem
other articles of export,
mainly manufactures, ex¬ to be groundless.
hibited an increase of some 14
millions, and presuma¬
bly, as in earlier months, iron and steel, leather, wood
Building construction operations, notwithstanding a
and naval stores were important contributors
to the notable let-up in some
important localities, where it
result. For the nine months of the calendar
would
seem
the putting up of dwelling structures in
year 1910
the total merchandise outflow was
$1,222,911,208, anticipation of a brisk demand has been rather
an
aggregate never materially exceeded except in overdone, continue
comparatively active in the
1907, and showing a gain of 61% millions over 1909.
country as a whole. The result of this previous over¬
In shaip contrast with the
important gain in the building is nowhere more strongly apparent at present
September outward movement of merchandise, im¬ than in the Borough of Brooklyn. For while the last
ports, as intimated above, recorded a moderate loss, month or two renewed
activity has characterized
having been for the month this year $117,271,014, operations in the other
large boroughs of. Greater
against $121,014,630 in 1909. The total inflow of New
York, the opposite is the fact with regard to
merchandise for the nine months of
1910, however, at Brooklyn, and properly so, since demand for accom¬
$1,172,375,910, is the record for the period, exhibiting modations seems for the time being to be well below
an excess of 104 millions
over the nine months a
year the available supply as indicated by vacant structures.
ago and a gain of 374 millions over 1908.
While The same is true of a number of other large
municipali¬
most items of
import have come in more freely this ties where for some months operations had been con¬
year than last, the conspicuous gains have been in rub¬
spicuously heavy. On the other hand, returns from
ber, sugar, iron and steel and manufactures, seeds and
many other cities" furnish evidence of noteworthy
oils.
activity. In this class may be mentioned Manchester,
OOT 22
1910.]
Worcester and Salem in New
THE CHRONICLE
England; Pittsburgh,
Bayonne and Binghamton in the Middle Section;
Evansville, Cleveland, Fort Wayne, Omaha, Des
Moines and Peoria in the West and Augusta and
Greensboro at the South.
compilation of returns of prospective
building operations covers September 1910 and fur¬
nishes an aggregate much less than for the preceding
month, but only very moderately smaller than for the
corresponding period of 1909. Altogether 106 cities
are included, equally divided between those showing
losses and those exhibiting gains. Greater New York’s
foremost borough (Manhattan) reports a larger total
Our latest
than in the month of 1909, and so does the Bronx,
but in Brooklyn, as in each of the preceding four
1063
remains better
supplied with funds than any other
European city, consequently the rate there is only
2%%, or
of 1% below the Bank of France rate,
which, according to general belief, will not be advanced
at this time unless gold be withdrawn from Paris in
excessive volume. As compared with last week,
quotations have moved up sharply at Berlin, spot bills
being now quoted at 4^% and bills to arrive at 4%%.
Amsterdam is now quite up to the bank rate of 4%. As
already stated, the Bank rate at Brussels has gone up
to 5% and private discounts there have risen from
3J^% last week to 4%%. Other changes in official
rates are likely to be made in consequence of the pres¬
sure at London and the desire of each city to protect
its supplies of gold.
The Bank of England, for the third week in suc¬
cession, secured a generous share (£400,000) of the
new South African gold offered in the open market
on
Monday at the minimum price, 77s. 9d. per
ounce, the Continent and India taking the balance,
months, there was a very conspicuous dceline in opera¬
tions, and Queens’s returns show a small loss. It
happens, therefore, that for the city as a whole the
result was below that of September a year ago by
7.8%. Contrasted with 1908, also, there is a loss
(4.7%), but as compared with 1907 a gain of 27.4% is £300,000.
shown.
Outside of Greater New York the
But this did not suffice to meet‘ the
week’s demands from Egypt and other countries.
The weekly statement, issued on Thursday, disclosed,
according to our special cable dispatch, a decrease in
bullion on hand of no less than £1,813,398. This was
not the only unfavorable feature of the statement, for,
while loans were reduced only £1,265,010, private de¬
posits fell off the abnormal amount of £3,574,120,
without any commensurate increase in public deposits,
prospective
outlay the month’s contracts call for is placed at
$47,523,132, as compared with $50,728,101 in 1909,
a falling off of 5.8%;
an increase, however, of 9.2%
over 1908 is shown and the gain over 1907 reaches
13.6%. The total for all the cities (106 in number) is
$60,698,812, against $65,024,077 for Sept. 1909, or
a loss of 6.3%.
Contrasted with the periods in 1908
and 1907, the increases are 5.9% and 16.3% respec¬ the gain in these being only £749,038. The loss in
total reserve was £1,551,158, while circulation was
tively.
Combining the result for the 106 cities for September reduced £262,041: These changes resulted in a falling
with those for a like number for the preceding eight off in the ratio of reserve to liabilities from 46.86%
months, we find that while for the period since Jan. 1 in last week to 46.48% this week. This percentage is
1910 the building contracts entered into have repre¬ slightly below the average recorded at this season
sented a smaller outlay than for the same nine months during the last ten years, while the amount of bullion
in 1909, they have covered a greater expenditure on hand, £31,965,352, has only once been smaller
than in the corresponding period of any other year. during the same period.
Moreover, since the weekly
A little below 640 millions of dollars is the total our returns were compiled, £130,000 has been shipped to
compilation discloses as the approximate cost of the India, while a very large consignment is understood
projected buildings this year, which compares with to have been arranged for shipment to Egypt to-day.
676 x/± millions in 1909.
In 1908 and 1907, however Our correspondent further advises us that the loss was
the aggregates were only 453 millions and 579 millions^ due to exceptionally large exports, chiefly to Egypt,
respectively. Greater New York’s operations exhibit which the purchases in the open market and the re¬
a falling off from last year of 22.7%, but are in excess
ceipts from the interior of Great Britain did not offset
a very important extent.
to
of 1908 by 38.9% and of 1907 by 6.7%. Outside
The details of the move¬
ment
into and out of the Bank were as follows: Im¬
of this city there is an increase of 2.3% over 1909 and
gains of 41.9% and 11.8% are recorded over 1908 and ports, £402,000, wholly bought in the open market;
1907.
exports, £2,400,000 (of which £2,205,000 to Egypt,
£ 125,000 to India and £70,000 to various destinations),
Higher discount rates have been brought about at and receipts of £185,000 net from the interior of Great
all important European centres, with the notable ex¬ Britain.
ception of Paris. The general monetary position
The New York money market has not advanced in
abroad and the international movements of gold are
discussed in foregoing paragraphs. Early in the sympathy with the firmness shown abroad, chiefly be¬
week evidences of growing tightness appeared at Lon¬ cause the demands for speculative purposes and for
don, Berlin and Amsterdam, but it was not until new financing remain at a minimum. The offerings,
Thursday that the official rate was raised by the Bank because of limited absorption,. appear on the surface
of England.
On the same day the National Bank of to be extensive, but it is still true that moderate ex¬
Belgium also advanced its minimum to 5%,from43^%. pansion of the inquiry would probably reveal the thin¬
The Imperial Bank of Germany, which is already on a ness of the market. At other American eentres the
5% basis, may feel constrained to name a. 6% rate, trend has been upwards, notably at Chicago, where,
as it usually stands
above the English minimum. hopes are entertained of an immediate and substantial
The private rate for discounting 60 to 90 days’ spot improvement in general trade following a reported rebills in London, rose on Thursday to 4^%, while bills covery in copper, textiles an4 steel—a recovery re¬
to arrive are charged 4%%; there are intimations that garded as a quite logical sequence to the harvesting of
even higher quotations will be brought about.
Paris the greatest corn crop in history and the assurance
1064
THE CHRONICLE
of better than
average yields of other cereals.
has been a falling off
in the
shipment of
There
cur¬
[VOL.
LXXXXI.
Take, for instance, our latest foreign trade statistics.
Whereas August disclosed an excess of
imports to the
amount of
$3,698,929, bringing about an import
balance of $951,781 for the calendar
year, the Septem¬
ber figures reveal an
export balance of no less than
$51,587,079, thus turning the adverse showing for
the eight months into a
surplus of exports over imports
of $50,535,298.
The returns for October and Novem¬
ber invariably show
very heavy exports of merchandise
and commodities, and there is
every reason to look for
the customary
activity this year. Against this must
be placed the
liquidation of American stocks that has
been stimulated
by the recent upward movement,
although a certain amount of new bonds may be placed
from New York to the West and South, suggest¬
ing that the drain has abated for the season. The out¬
put of mercantile paper has increased; this applies to
the highest grade as well as to
ordinary names. Local
institutions can now obtain very fine bills at 5%% and
even 6%,
although numbers of the best drawers will
not consent to
anything above a 5%% charge. Banks
for the most part are
taking care only of their own
customers at the last-named
figure and insist upon
6% for brokers’ paper.
Quotations for call loans have declined from the
rates current a week ago.
On Monday the maximum
was 3%% and renewals were also made at that
rate, abroad as an offset. Rather than
permit gold to leave
which, however, was % of 1% below Friday’s charge. the
country just now, our financiers would in all proba¬
The ruling rate on Tuesday and
Wednesday was only bility issue more finance bills, and thus
depress
3%, with 3%% the highest each day; but renewals
exchange, while, of course, a rise in interest rates
were not made under
3%% on Thursday, although would do much to stave off an
outflow. One or the
that was likewise the maximum, with
2%% the mini¬ other of these methods, or
both, may be applied to
mum.
Yesterday the range was 3% to 3%%, with keep gold at home.
3% quoted at the close. The average ruling rate
Compared with Friday of last week, sterling ex¬
for the week has been 334%* Time
money, after change on Saturday was
firmer, with demand quoted
having been slightly higher, was obtained in small at 4 8595@4
86, cable transfers at 4 8625@4 8630 and
quantities on Thursday at 434% for the shortest ma¬ 60 days at 4
83@4 8320. On Monday demand was
turities and 4%% for the longest
periods. The over- quoted at 4 8595@4 8605, cable transfers at 4
8630@
supply is not by any means large, and the whole posi¬ 4 8640 and 60
days
at
4
8280@4 8290. Demand ad¬
tion might undergo a change at
any time. The de¬ vanced to 4 8625@4 8635 on
Tuesday and cable
tailed range, at the close last night was as follows:
transfers to 4 8650 @4 8660, while 60
days was un¬
4%@4%% for 60 days, 4% @5% for 90 days and changed. On
Wednesday demand advanced sharply
four months and 4%@4%% for five and six months.
to 4 8635@4 8645 and cable transfers to 4
8675@
Commercial paper is quoted at 534 @6% for the choicest 4
8680, but 60 days declined to 4 8270@4 8280. On
four to six months’ single-name bills and
634% f°r Thursday, on the announcement of the
higher Bank
others, with 60 to 90 days’ endorsed bills receivable rate in
London,
quotations advanced %c., but there
at 5%@5%%.
was a recession before the close to 4
8660 @4 8670 for
demand and 4 8690@4 87 for cable
transfers; 60
Foreign exchange rates have moved up with re¬ days declined to 4
8260@4 8270. On Friday demand
markable rapidity and violence since
Monday. The early went to 4 8680, but closed at 4 8665,
although
close then was on the basis of 4 86 for demand
sterling, cable transfers were not offered under 4 87%.
on
Tuesday 4 8630 was reached, on Wednesday
The following shows the
daily posted rates for
4 8645, on Thursday 4 86% and
yesterday morning sterling exchange by some of the leading drawers.
4 8680, although later there was a
relapse to 4 8665.
rency
Cable transfers meanwhile have advanced from 4 8630
to 4 8734A combination of incidents has brought
about this unusual movement. To
begin with, the
settlement of the dispute over
guaranteeing cotton
bills of lading removed the necessity, for
hurrying this
the market, thus relieving a
class of remittance upon
pressure that had become quite severe.
discounts abroad showed unmistakable
ness
Then private
signs of firm¬
early in the week simultaneously with
a reces¬
sion in call money quotations here.
On Thursday
came the advance of a full
1% by the Bank of
England.
New York bankers had not anticipated such drastic
action inasmuch as the Continental and American
Fri.,
Mon.,
Tues.,
Wed.,
Thurs., Fri.,
Oct. 14. Oct. 17. Oct. 18. Oct. 19. Oct. 20. Oct.
21.
Brown
Bros. & Co
J60 days
Sight..
/60 days
\ Sight.
J60 days
4
4
Kidder,
4
4
Peabody & Co_.
Bank of British
4
North America ...1 Sight.. 4
Bank of
/ 60 days 4
Montreal
...I Sight.. 4
Canadian Bank
J60 days 4
of Commerce—
\ Sight.. 4
Heldelbach, Ickel/60 days 4
helmer & Co.__.
\ Sight.. 4
Lazard
j 60 days 4
Freres
4
Merchants’ Bank
/60 days 4
of Canada
\ Sight.. 4
_
.
—
The market closed
60
84
87
84
87
84
87
83*
83*
86*
83*
86*
83*
84
87
84
87
84
87
84
87
84
87
84
87
84
87
84
87
83*
86*
84
87
84
87
84
87
84
87
83*
86*
83*
86*
84
84
87
83*
86*
87
87
87
84
87
84
87
83*
83*
87*
83*
87
84
87
84
87
83*
87
87
83*
83*
83*
87*
83*
87
84
87
84
87
83*
87
83*
87
87
87
83*
83*
83*
87
84
84
87
87
87
84
87
87
84
87
Friday at 4 8260@4 8280 for
days, 4 8665@4 8675 for demand and 4 8705@
4 8715
for cables.
on
Commercial
on
banks
quoted
82% and documents for payment 4 82%
exchanges had already turned towards London. Con¬
@4 83. Cotton for payment ranged from 4 82% @
sequently much confusion was created among our
4 82%, grain for payment from 4
82% @4 83.
exchange operators, and for a time quotations fluc¬
tuated widely. Intimations,
apparently inspired, that
The following gives the week’s movement of
money
unless the 5% rate serves to protect London’s stock
to and from the interior by the New York banks.
of metal, even higher figures will be
named, were not
calculated to allay uneasiness. The rise of
Received by
Shipped by
Net Interior
%c. on
Week ending Oct. 21 1910.
N. Y. Banks. N. Y. Banks.
Movement.
Thursday was followed by even more pronounced Currency
$8,372,000
$7,928,000 Gain
$444,000
Gold
firmness yesterday morning, thus
874,000
782,000 Gain
92,000
causing discussion Total
gold and legal tenders
of the international
$9,246,000
$8,710,000 Gain
$536,000
gold position.
One or two matters of
importance militate against
With “ the Sub-Treasury operations the result is
the probability of gold exports at this
juncture. as follows.
at 4 82 @4
was
OOT. 22
THE CHRONICLE
1910.]
1065
ment of constitutional
reform, drawn by the leaders of
Turkish generation from their contact
$8,710,000 Gain
$536,000
Banks’ Interior movement, as above.
$9.246,000
35.072,000 Loss
1,972,000
33.100,000
Sub-Treasury operations.....
with people of other nationalities, in visits to Paris,
$43,782,000 Loss $1,436,000
Total gold and legal tenders
$42,346,000
London and Berlin. The remarkable unanimity with
which the progressive element in the Turkish com¬
The following table indicates the amount of bullion
munity cooperated—first, in exacting a written con¬
in the principal European banks.
stitution and next in unseating the Sultan when he
Week ending Oct. 21
of
France
Gold.
Silver.
£
£
£
133,524,160
34,757,900
Russia a.. 145,712.000
Aus.-Hunb 55,460,000
Spain.... 16.362.000
38,543,000
Italy d
Neth'lands 10,226,000
NatBelg.d 5,362,667
Sweden
4,446,000
8 wltz’land
6,271,000
2.048,000
Norway
..
Germany
..
.
Oct.
Total.
England.. 31.965.352
.
m
r
endeavored to restore the old order of
21 1909.r
Gold.
SUver.
Total.
£
£
£
31,965,352 32,909,882
33,626,120 167,150,280 145,003,400
13.059.100 47,817,000 35,517,850
6.649.000 152,361.000 132,667.000
12,058,000 67.518.000 57,388,000
30.631,000 46,993,000 16,065.000
3.335.000 41,878,000 37,250,000
1,626,300 11.852,300 10,525.000
2,681,333 8,044,000 4,167,333
4,446,00(^ 4,381.000
6,271,000
4,974,000
2,048,000
1,727,000
m
Net Change in
Bank Holdings.
the younger
20 1910.
Oct.
Banka
Out of
Banka.
Into
Banka.
1910.
r,
32,909.882
35,941,360 180,944,760
11,486,450 47,004,300
7,460.000 140,127,000
12,055,000 69.443,000
31,082,000 47,147,000
4,000,000 41,250,000
2,778,700 13,303,700
2,083,667
6,251,000
4,381,000
4,974,000
1,727,000
Total week 484,678.079 103,665,853 588,343,932 482,575,465 106,887,177 589,462,642
Prev. week 484.184.787 104.600,373 588,785,160 481,982,179 107,060,293 589,042,472
TURKEY AND THE REST OF EUROPE.
Conflicting reports have been in circulation regarding
the $30,000,000 Turkish loan—the most extensive
finance operation of the “Young Turk” Government
at Constantinople.
It was lately announced, on what
seemed to be authority, that French capitalists had
undertaken the
loan,
on
the basis of certain guaranties,
political or otherwise, by the Turkish Ministry.
Yesterday this announcement was apparently contra¬
dicted. The singular complications which have sur¬
rounded the attitude of the various European markets
towards this loan, and the week’s conflicting reports of
dissension in the Turkish Cabinet itself, give occasion
for some careful review of the present position of
affairs as between the new government at Constanti¬
nople and the other States of Europe.
This series of incidents has followed
a
number of
highly interesting turns in Europe’s discussion of
Turkey’s constitutional problem. The large loans
which the new government has endeavored to negotiate
on the European markets, and the more or less
sig¬
nificant tendencies shown in Turkish diplomacy, have
begun to create some new views of the country’s
constitutional experinent. These are views such as
are always bound to appear in any episode of the kind,
after the first flush of enthusiasm over a great achieve¬
ment in popular liberty has been celebrated, and the
authors of the successful revolution have got down to
the routine of
A month
or
governmental business.
two ago,
Constantinople celebrated with
due pomp and formality the second anniversary of the
establishment of its constitution. It will not have
been
forgotten with how complete a shock of surprise
of that uprising of 1908, in behalf of con¬
stitutional reform, came upon the outside world.
The instinctive comment of the day, even in quarters
most friendly to Turkey, was one not only of astonish¬
ment but of incredulity.
The outside world had
come to regard the Turkish people as stationary in
habits, traditions and aspirations. A similar popular
demonstration in China could hardly have created
more surprise.
When people familar with the facts
had begun to set forth the real nature of the Turkish
demonstration, it was by degrees perceived that the
the
news
revolution had
as
its
more
remote
cause
the absolute
confusion of the country’s finances and the incidental
exactions of the Sultan, and as its more immediate
cause,
the inspiration in behalf of the general
move¬
things—made
unquestionably the best of impressions upon people of
other States.
From the first position of incredulity,
outside opinion began to shape itself into the belief
that something like a new force in European civiliza¬
tion had suddenly been discovered.
But from such
exalted ideas there
was
bound to be
some more or
less
unpleasant reaction, and in many respects the reaction
has already come.
There were, as we pointed out at the time of the
Turkish revolution, two serious tests of character and
qualities which lay immediately before the new Turkish
Government. One had to do with the problem of
finance, the other with the question of military
ambitions. The second was at the start very seriously
apprehended, especially when the steps taken by
Austria in regard to Turkey’s Balkan dependencies,
and the attitude taken by the Greeks and Cretans
regarding Cretan independence, were such as to pro¬
voke even a people bent primarily on reform of domestic
affairs. On the whole, both government and people
met this preliminary test most satisfactorily.
But
with the progress of time, indications have gradually
come to hand which show that, after all, human nature
and popular tendencies have not been so transformed in
Turkey as to enable its new government to avoid the
pitfalls which have surrounded other similar political
experiments.
In the matter of finance there has been, according
to all accounts, very little of the progressive economies
for which friends of Turkey had hoped. The English
critics who most cordially greeted the new Turkish
Government have confessed their disappointment at
the failure to realize the promises of an improved
financial position. “Instead of devoting themselves/'
writes the London “Economist,” “to the social,
economic and financial regeneration of Turkey, they
have fallen a victim to military and naval ambitions.”
“The latest example of ineptitude,” the “Economist”
continues, “is the purchase from Germany of second¬
hand battleships which were about to be thrown upon
the scrap heap; and now, to pay for this and other use¬
less extravagances, they are trying to contract a large
loan.” A well-informed correspondent, cited in the
same newspaper,
reports from Constantinople that
“the reactionary movement of last year, with its Mo¬
hammedan war-cries, thoroughly shook the confidence
of the Young Turks in their chances of success, and
consequently gave the more fanatic and less liberal
counsels an upper hand.”
Dr. E. J. Dillon, another competent judge of East¬
ern
diplomacy, writes in the last “Contemporary
Review” that Turkey “is sharpening her weapons of
She is raising money by means of foreign
offence.
loans. She is reorganizing her army and navy at a
pace which the attitude of her neighbors does not war¬
rant.
Her way with the Greeks is provocative. The
language which some press organs address to the
Powers of the Triple Alliance is wanting in
comity
toward Russia and England and occasionally smacks
THE
of menace.”
Dr. Dillon declares that
CHRONICLE
liberty of the
has been pretty much abolished, and goes so far
as to
say that the element working for reform to-day
consists of the Old Turks, “and that they long and
pray for such reform as will make short work of the
Constitution.” The London “Spectator,” a steadfast
friend of Constitutional Turkey, remarks of the pend¬
ing loan, with some show of irritation:
press
The most important moral of this unpleasant dis¬
pute is that the fusion, or confusion, of the diplo¬
matic and commercial functions is a peril and a nui¬
sance.
France objects to Turkish money, found by
France, being spent in Germany. Yet France neces¬
sarily gives Germany a right of retort by insisting
that the money should be spent in France. For our¬
selves, we regret that Turkey should be encouraged
to spend the money at all.
Extravagance is the
greatest present danger of Turkey. Where reckless¬
ness is added in the conduct of
foreign policy, the deficit
is likely to become enormous. No friend of Constitu¬
tional Turkey can look upon the prospect without
misgiving.
perhaps excited most genuine concern
in English and French diplomatic circles has been the
leaning of the Turkish Government toward an ex¬
clusive German alliance. One prominent Constantino¬
ple newspaper is quoted in London as declaring that
adhesion to the Triple Alliance “would have two
advantages for Turkey: it would symbolize her coming
of age, as it were, and it would also bestow
upon her
a powerful lever
against Russia and Great Britain in
the Middle East and more
particularly in Persia.”
This is distinctly a “Jingo” utterance. The “Econo¬
mist,” in the recent article above referred to, regret¬
fully admits that Turkey’s “present ambition appears
to be to combine the
privilege of financial vassalage
to Paris or London with that of political or
military
vassalage to Austria or Germany.” To this aspect
of the situation, combined with the
feeling so preva¬
lent in high European financial circles that the
way
to exert an influence over foreign
countries is to lend
must be ascribed the
recent
curious
episode
over the quarrel as to who should have the
latest Turkish loan. In the
English press some irri¬
tated comment is frequently heard as to whether
a
situation
be tolerated where
a State like
Turkey
borrows from governments toward whom it is
pursuing
can
unfriendly policy, and borrows for the purpose
providing itself with means of military offence.
This would certainly appear a
singular situation—
not less so when one remembers how
often, during the
two past generations,
Turkey has been the key to
Europe’s whole diplomatic problem. What the epi¬
sode as it stands .pretty clearly demonstrates is that
an
of
the troublesome
period of the Turkish Constitutional
experiment is by no means past; it may have only
begun. It would be rash, when all the conflicting
elements of European politics and
diplomacy are con¬
cerned, to draw conclusions now as to just how this
highly important experiment will result. Mr. Sew¬
ard’s famous saying that revolutions never
go back¬
wards embodies substantial
underlying truth; but it
does not rightly mean that revolutionists will not in
the early stages of their
such
blunders as may
tracing of their steps.
political experiments make
cause
some
considerable
On the contrary, that has been the
common
perience of almost all occasions of the sort.
re¬
ex¬
England
lxxxxi
under the
Commonwealth, France under the First
Republic, not only marked the pages of their history
by startling departures from the principles under
which the party of Constitutional reform had
the new experiment, but
begun
presently yielded to definite
positive reaction towards the pre-existing and non¬
constitutional conditions. Our Republic had to pass
through certain experiences in the decades shortly
following 1789 which inspired in the thoughtful Euro¬
pean mind no little disappointment and distrust.
The longer sequel,
nevertheless, was in all three in¬
stances wholly
reassuring. The best that can be hoped
for Turkey is that a
popular demand for enlightened
and
and conservative government
it did in those other
chapters
wholesome restraint
in
on
will find its own way, as
of history, to operate as a
foolish and unwise
departures
public policy.
THE TRANSFORMATION OF THE ERIE.
Perhaps there is
What has
them money,
[Vql.
outlook and
other road in the country whose
condition has so completely changed
no
during the last two years as the Erie Railroad. Early
following the panic of 1907, the company ap¬
peared to be on the verge of bankruptcy, and the prop¬
erty would undoubtedly have landed in receiver’s
in 1908,
hands at that time except for the financial
help ex¬
tended at a critical juncture by the late E. H. Harri-
reinforced by similar aid from J. P. Morgan &
Co. It was thought then that the
company’s finances
would have to be completely readjusted and
perhaps
a
general reorganization undertaken. Actually all
that it was found necessary to do was to fund a few
coupons; with the aid thus given the company was
tided over its difficulties, and to-day
it is apparently
again in an easy state as far as its finances are con¬
man,
cerned.
The transformation in financial condition has been
no less wonderful than the transformation in the com¬
pany’s income account. Indeed, the former would
impossible without the latter. More than
that, what gave to the company’s pressing needs in
1908 a peculiarly gloomy aspect was the tremendous
slump in net income which was then taking place,
making it appear that there would be no net earnings
to support the borrowing of the funds so much needed.
In the two years since then, however, net
earnings
have again come up in a most promising fashion.
As
was pointed out by us in
previous reviews, the experi¬
ence of the Erie in 1907-08 was much like the
experi¬
ence of most other roads,
only in a greatly emphasized
degree—the gross earnings underwent a shrinkage
and at the same time expenses could not be reduced,
but, on the contrary, showed great augmentation;
these two adverse forces working concurrently caused
a frightful loss in net income.
Briefly stated, aggre¬
gate gross revenues fell from $51,194,113 in 1906-07 to
$46,746,436 in 1907-08, while expenses rose from $33,579,958 to $36,469,542. Thus the net revenue was
at one clip cut down from $15,171,356 to $10,276,893.
In 1908-09, however, a great improvement was
worked in net income, mainly as the result of econo¬
mies in operation. The improvement in the gross
revenues in that period of twelve months was
only
moderate. After the big drop the previous year the
recovery was only from $46,746,436 to $47,514,858;
but the expenses, which had risen from $33,579,have been
Oot. 22
1067
THE CHRONICLE
1910.]
$36,469,542 in 1907-08, were cut tended to swell the expenditures in that direction.
down to $32,694,025. Accordingly, net earnings, At the same time the improved state to which the
after having declined from $16,171,356 to $10,276,- equipment was brought in these early days served to
diminish the need for outlays on that account in the
893, increased again to $14,820,833. In 1909-10
this improvement was carried still further. The re¬ late year.
The relatively light addition to the transportation
covery in gross now reached goodly proportions,
while, unlike the experience of other roads, expenses attracts attention in view of the expansion
traffic movement and the higher wages paid em¬
expenses
did not rise in equal degree. The in
gain in gross earnings reached $4,315,861, while ployees. As evidence of the growing efficiency in*
958 in 1906-07 to
addition
the
to
expenses
was
only $1,760,744, operations, the
for
1909-10
average train-load
494.87 tons, an
of
revenue
freight
increase of nearly
gain in net of $2,555,117. In other words,
in two years there has been an improvement in the 26 tons, or 53^%. Including company freight, the
net in amount of no less than $7,099,057, bring¬ average train-load was 540.70 tons, as against 516.86
ing the total of the net up from $10,276,893 to tons, an increase of nearly 24 tons, or 4.61%. It will
no doubt surprise the reader to hear that in the last
$17,375,950.
The late year’s gain in gross earnings is not of course five years the average train-load has been raised a
surprising. It is the result of general trade activity full 100 tons, the average now at 540 tons for 1909-10
and furnishes evidence going to show that the Erie comparing with only 440 tons for 1904-05.
There seems every reason, too, for thinking that
shared in the same.
It is to be said, though, that in
its anthracite coal tonnage, the Erie, like some other further economies and further efficiency can be at¬
anthracite carriers, suffered a reduction of its tonnage. tained in the future. Indeed, enormous sums have
In other words, the Erie moved only 8,707,251 tons been spent in recent years in bringing the Erie to a
of anthracite in 1909-10, as against 9,331,192 tons higher standard of physical condition. The fetter
in 1908-09; but this decrease of 623,941 tons in the operating results are directly due to the large surias of
hard-coal tonnage, was many times offset by a gain money spent for these purposes. The present report
of 2,234,144 tons in the bituminous or soft-coal ton¬ contains references to one or two changes in physical
nage.
The increase in this last instance for the twelve characteristics, typical of other improvements of the
months was 37.51%.
Moreover, there was also an same description. Thus we are told that the Genesee
increase of 675,176 tons in the coke shipments, the River RR., the low-grade fine between Hunts and
gain in this instance being no less than 43.38%. The Cuba, N. Y., together with the improvement of the
management also appears to have brought the freight existing line between Homell and Hunts, has just been
traffic back to a normal state in character and com¬ completed and was put in operation Oct. 1 1910. The
position. In 1908-09,when business was still depressed, report also states that the improvements of the line
the management made a bid for the long-haul traffic, west of Cuba are nearing completion, when the entire
and as this has to be taken at very low rates the line, Hornell to Salamanca, via Hunts, the Genesee
River RR. and Cuba will be brought to the established
average realized per ton per mile was sharply reduced,
it being only 5.86 mills per ton mile against 6.00 mills grade, namely 2% eastbound and 3% westbound,
leaving
a
in 1907-08 and 6.14 mills in 1906-07.
the
year
average
The local
mills.
was
or
brought
up
short-haul traffic
In the late
again to 5.99
was
evidently
increased, while the long-distance traffic bearing low
relatively diminished.
After all, however, the great change for the better
in the income exhibit has come about through the
savings and economies practiced in the expense ac¬
counts.
Owing to the new classification and grouping
of the expenditures required by the Inter-State Com¬
merce Commission, it is impossible to institute com¬
parisons of the details of the expenditures with the
years prior to 1907-08, but as between the last three
years the grouping and classification is, of course,
identical, and the results for these three years furnish
a clear idea of what has been accomplished in the par¬
ticular mentioned. In brief, there has been great
curtailment in the maintenance outlays and only rela¬
tively slight increases in the transportation expenses.
Upon maintenance of way and structures $985,044
more was spent in 1909-10 than in 1908-09; but, on the
other hand, in this last-mentioned year the same
class of expenditures had been reduced $1,679,006.
Upon maintenance of equipment $192,998 less was
spent in the latest year than in the year preceding,
and the saving here is the more noteworthy as it fol¬
lows a decrease of $1,005,671 in the same class of ex¬
penditures in 1908-09 a^ compared with 1907-08.
No doqbt expenditures of this type were unusually
heavy in the earlier years, special circumstances having
rates
was
i
•
over
which
was
can
be moved
a
train-load eastbound 40%
and westbound 52% greater than over
between Horned and Salamanca.
These
they
are
the old line
evidently important achievements, and
suggestive of the nature of future operating
are
Mention should also be made of the con¬
struction of the new open cut through Bergen Hid
results.
(via the Penhorn Creek RR.), which has been prac¬
tically completed. Three of its tracks are now in
operation and the fourth wid be ready for use before
the close of the current calendar year.
President
Underwood states that the result of the operation of
this improvement has been very satisfactory and large
benefits are being derived from its use.
Under the great increase in net earnings,the income
exhibit, as far as it concerns the relation between
fixed charges and current revenues, makes a strikingly
favorable exhibit. In 1907-08 the company had failed
to earn its fixed charges in the amount of $1,623,422.
In 1908-09 there was a surplus in excess of the charges
in the sum of $2,947,643.
In the year under review
with the further increase in net earnings the surplus
in excess of charges reaches $5,806,543.
A surplus
above charges in the sum of over $5,000,000 is certainly
a flattering exhibit for a road like the Erie.
Finan¬
cially, too, as already indicated, the company is ap¬
parently in easy circumstances, and the balance sjieet
shows that
on
June 30 1910 the cash
on
hand
amouhted\
jto $8,103,904, this comparing with $4,355,416 for *
June 30 1909.
1068
THE CHRONICLE
THE GREAT NORTHERN RAILWA Y REPORT.
The
impression which study of the annual report of
Railway Company leaves upon the
mind is that the twelve months ending last June were,
on the
whole, a period of prosperity in the territory
covered by the lines of the system, but that with the
the Great Northern
railroads conditions in that part of the country the
same as elsewhere are
becoming steadily more trying.
That the year was a prosperous one for the communities
served is evident from the
large ratios of growth dis¬
The com¬
more in traffic.
pany added no less than $10,777,925 to its gross earn¬
ings, being an addition of over 20%, and bringing the
total of the gross up to $64,465,369. There had been
some
falling off in gross revenues in the two years pre¬
ceding, but it was slight alongside the increase now
reported for 1909-10, and the total of the gross for this
latter year is by far the largest of any year in the com¬
pany’s history.
The ratios of gain in traffic were of
very striking pro¬
portions. In the case of the passenger movement
special stimulating circumstances, such as the opening
closed in
earnings, and yet
to settlement of
crease
some
Indian reservations and
an
in¬
in travel in connection with the Alaska-Yukon-
Pacific
Exposition held at Seattle last year, served to
gains, and accordingly we find that passen¬
ger revenue increased 30.37% and the number of pas¬
sengers carried one mile rose over 32%.
But the addi¬
tions to the freight traffic,
though not of such excep¬
tional dimensions, are by no means of small
size, the
number of tons of revenue freight hauled
having ad¬
vanced over 5,000,000 tons, or more than
28%, the
number of tons moved one mile
having been enlarged
by over 836,000,000 ton miles, or more than 17%, and
the freight revenue having been added to in the sum
of $7,210,922, or in excess of
18%. As it happened,
the company realized slightly better
average rates,
though the improvement was very slight, being only
about seven-tenths of 1%. In other
words, the aver¬
age was 8.219 mills per ton per mile, against 8.151 mills
in the previous fiscal year. This
slight improvement
in rates comes, it is pointed out in the
report, not from
advances in freight rates, but from
changes in the class
swell the
and character of traffic handled and from a
greater
relative increase in volume of short-haul traffic than in
long-haul freight.
The addition to total gross revenues
having been so
very large, the management were able to save a por¬
tion of this gain to add to the net. Yet the
[VOL.
LXXXXI.
repairs to track and to locomotives and cars, and that
higher wages and higher prices for materials contribute
to the same
end, is generally overlooked, and hence it is
important that emphasis should be laid on this feature.
The transportation expenses rose
$3,246,119, or
21.9%, against an increase, as we have already seen,
of 20.08% in the amount of revenue from
transporta¬
tion. And, adverting to this rise, President Hill feels
called upon to make the
following observations: “Cost
ratio of handling traffic is said to decrease as traffic
volume increases, but the above
percentages show that,
because of higher wages and
higher prices for material,
the transportation service
required the expenditure of
a larger
percentage of revenue this year than last year,
notwithstanding the average load per freight car and
average number of cars hauled in freight- trains both
increased.”
The Great Northern
Railway has always been distin¬
guished for its high train-load, and during the late year
the average was further
improved by over 16 tons,
bringing the number of tons hauled in the trains above
518 tons.
the
The road also had
slightly better
rates
trifling advantage from
realized, and accordingly we
a
find that the trains earned
per
mile run $4 26, which is
rather unusual figure among railroads in
this country and compares with $4 09 the
previous
year.
Nevertheless, when we come to include the
passenger traffic, where there was a reduction in the
revenue per unit of
traffic, it is found that, owing to
the inability to lower the ratio of
growth in expenses,
the net revenue from transportation
per train mile fell
off, being $1 15 1-10 for 1909-10, against $1 16 6-10
certainly
a
in the
preceding year.
Everything has been done in
recent years on
this
great railroad system to promote economy and effi¬
ciency in operation, and certain statistics in the report
are
very
illumining
enormous
on
this point.
In the first place,
additions have been made to motive power
and
equipment, and in the second place engines of the
highest tractive power and cars of the largest capacity
have been provided. As indicating what has been ac¬
complished in this respect, we may point out that in
the ten years from 1900 to 1910 the number of locomo¬
tives owned has increased from 550 to 1,123. In other
words,
far as mere number is concerned, motive
power has doubled.
But as the locomotives are of
much heavier type, the tractive power of the locomo¬
as
tives owned is
now
three times what it
was
ten years
having risen from 12,147,810 lbs. to 36,641,215
augmenta¬ pounds. The tractive power per engine now is 32,628
tion in expenses was
heavy, both relatively and abso¬ lbs., as against 22,087 lbs. in 1900* Stated in another
lutely. With $10,777,925 increase in the gross reve¬ way, while the number of locomotives has more than
nues, the augmentation in expenses reached
$6,724,- doubled, each locomotive owned June 30 1910 was on
608, leaving $4,053,317 gain in net. The increase in the
average 47.72% more efficient than the locomotives
expenses was in somewhat greater ratio than the in¬
crease in gross revenues.
This latter amounted to
20.08%; the increase in operating expenses as a whole
was
20.66%. Upon maintenance of way and struc¬
tures the increase was
$1,975,944, or 20.17%, and in
maintenance of equipment $1,346,787, or
21.81%.
These larger maintenance
outlays, President L. W.
Hill takes pains to
state, represent greater expendi¬
ture for repairs of locomotives and
cars, due to greater
volume of traffic, higher
wages and increased cost of ma¬
terials. The fact that a
larger volume of traffic adds
not alone to the cost of
conducting transportation but
also increases the maintenance
outlays in the way of
ago,
owned June 30 1900.
In like manner there have been
to the freight equipment, both in
enormous
additions
the number of cars
capacity. The number has in¬
creased from 21,484 to 44,283, or over 106%, but the
carrying capacity in the same interval (owing to the
fact that the average capacity per car in tons is now
35.44 as against 25.52) rose nearly 200%, so that total
capacity in tons now is three times what itwas ten years
ago, having risen from 548,185 tons to 1,569,226 tons.
These figures are interesting, not only on their own
account, but as showing that the most modern types
owned and in their
of locomotives and
cars
have been called to the aid of
O0T. 22
1910.]
THE CHRONICLE
1069
management in the effort to reduce cost per unit the completion of the testimony, the Master-in-Chanof service. Therefore, net results are the best that cery filed his report, finding in favor of the company
upon each of these several propositions.
His report
can be produced under prevailing conditions, and hence
established the value of all the company’s property at
very little can be done further to cheapen the cost of $457,121,469, the value of its property in Minnesota
the service.
Yet the company is obliged to earn a at $138,425,291, and held that the company was en¬
return on a greatly increased capitalization, owing to titled to a return of 7% per annum upon these valua¬
the
the
supplies of money that have had to
recent years to provide for the building of
enormous new
be raised in
branches and extensions and to furnish the needed ex¬
tions. The important points involved in this litiga¬
tion can only be finally settled by the Supreme Court
of the United States, but the facts as found by the
Master-in-Chaneery, after an exhaustive judicial in¬
growing volume of traffic. quiry in which all the resources of the State of Minne¬
Cost of equipment alone June 30 1910 was $35,162,- sota were employed to place the lowest possible valua¬
168 larger than cost of equipment owned by the Great tion upon the property of the company, demonstrate
a conservative
capitalization and must disarm the
Northern and its controlled companies on June 30 1900.
public
criticism that American railways are
prevalent
As indicating how the company has been obliged to
over-capitalized in so far as any one may seek to apply
enlarge its capital, it is only necessary to say that in it to this company.”
1907 and 1908 alone $60,000,000 of new stock was
In the new or current fiscal year the road will doubt¬
issued, though it is well enough to go a step further less be doing well if it succeeds in maintaining the re¬
and say that on June 30 1910 the Great North¬ sults achieved during the late year. General trade,
ern had $209,981,500 of stock outstanding, as against
speaking of the country as a whole, is not so active
as it recently was, and in addition the spring-wheat
only $98,882,700 ten years before.
We have spoken of the increase of $4,053,317 in the crop of 1910 in Minnesota and the Dakotas will, by
net earnings,as compared with the year before.
But reason of the unfavorable weather experienced dur¬
this was before the deduction of the taxes. These ing the growing period, fall much below that of 1909.
taxes increased almost a full million dollars, the ex¬ The report refers to the diminished crop yield, saying that
act addition being $999,930, or 38.9%.
This shows grain crops in those portions of Minnesota and the Da¬
kotas served by the company’s lines, particularly North
another way in which the lot of the average railroad
man is being made increasingly hard.
The report tells Dakota, are considerably less in quantity than for sev¬
eral seasons. This, it is stated, will result in a reduc¬
us that in 1909-10 the taxes amounted to
14.04% tion in
the company’s grain traffic during the current
of the total net revenue of $25,427,282.
It is pointed
year.
The quality of the crops, on the other hand,
out that the increase in taxes is not all due to increase in
is excellent, and the prevailing good prices will prevent
revenues, for in only one State, namely Minnesota, are
serious impairment of the purchasing powrer of the
taxes based on net earnings.
farming communities. General business conditions
In the final result we find that, in face of operating
along the company’s lines, it is declared, are good, and
efficiency of the highest type, the company, after there are no local causes for their not so continuing.
allowing for 7% dividends on its stock, shows a surplus
on the operations of the twelve months of
only about RAILROAD GROSS AND NET EARNINGS FOR
AUGUST.
$3,000,000—$3,093,161, equal to about 1J^% addi¬
The rise in operating expenses has reached a point
tional. This is not very much larger—in the face of
prosperous trade conditions—than in the year preced¬ where it is bringing reductions in net earnings month
ing, when general trade was still in a depressed state; by month. Losses in net earnings in the case of indi¬
the year’s operations then showed a surplus of $2,789,- vidual roads, including many large systems, have been
961. In this previous year, however, it is proper to the rule for some time, but now the general totals are
state, there were some large special items of income, being affected in the same way and show similar results.
Confirmation of the foregoing remarks is furnished in
more particularly profit on securities and
properties
sold, and these were not repeated in the year under the compilations for the month of August, which we
review.
present to-day. These compilations show that while
In these circumstances it is not surprising that con¬ there was an addition to gross earnings, as compared
siderable gratification is felt over the victory which the with the same month last year, of $17,839,341, the
roads in Minnesota have recently gained in the suits whole of the amount, and more, was eaten up because
to set aside certain freight and passenger rates fixed of an
augmentation in expenses of no less than $18,by the State of Minnesota. On the outcome of these 684,257, leaving, therefore, a loss in net of $844,916.
suits the report has this to say:
It is to be noted, however, that the present decrease in
“The last three annual reports have referred to suits net is not as
large as it was for July, when, with
brought in 1907 by stockholders of the company to set an increase of
only $11,322,306 in gross, there was an
aside, on constitutional grounds, certain freight and
addition to expenses of $15,964,347, producing, hence,
passenger rates fixed by the State of Minnesota.
In
these suits the main propositions asserted on behalf of a loss in net of $4,642,041. In the results for these
the company were, first, that it was entitled to earn a two months we have evidence that the magnitude of
fair return on the value of all property devoted to rail¬ the
improvement in gross has an important bearing in
road use; second, that the cost of reproduction was the
determining whether there is to be a loss or a gain in
minimum value of its property for rate purposes; third,
net.
The larger the improvement in the gross the
that the value of its property, thus ascertained, was
largely in excess of its outstanding stock ahd bonds; greater the margin to be encroached upon by the
fourth, that the Minnesota rates were a necessary inter¬ expenses. The comparison as to net is better for
ference with the company’s inter-State rates, and August than it was for July, simply because the
therefore were unlawful; fifth, that the Minnesota rates absolute amount of increase in gross was larger.
when applied to intra-State business alone did not pro¬
—Inereass or Decreas**1910.
1909.
A mount.
Avgust (769 roads)—
duce a reasonable return on the value of the company’s Mllef of road..
234,805
230,925 Inc.
3,880
lJ
Groae earnings....
$251,505,986 $233,666,645 Inc. $17,839,341
7.63
property situate in Minnesota and apportioned to Min¬ Operating expenses....
162,821,248
144,136.991 Inc. 18,684,257 12.96
nesota business, and therefore Were unlawful. Upon
Net earnings
$88,684,739
$89,529,654 Dee.
$844,916
6.94
tra facilities to
handle the
.
1070
Our
THE CHRONICLE
compilations,
as
heretofore,
are
the returns filed with the Inter-State Commerce
Commission at Washington, which is a guaranty that
the figures have been prepared
in accordance with
uniform methods, and also affords assurance that no
extraneous items have been included in the expenses,
such as outlays for improvements and betterments.
Our totals
also very
LXXXXI.
PRINCIPAL CHANGES IN NET EARNINGS IN AUGUST.
based entirely
upon
[VOL.
Erie
Illinois Central
Chicago Burl & Quincy.
Chic Milw & Puget Sound.
Phladelphla & Reading
Cine New Orl & Tex Pac.
Atlantic Coast Line
Delaware & Hudson
St Louis As San Francisco.
_
._
Spokane Port & Seattle._
Chic St Paul Minn & O..
Duluth Mlssabe & Nor.^..
Southern
Great Northern
Phlla Balt As Washington.
Rock Island—
Union Pacific
Lake Shore As Mich So
Chicago & North Western.
Cleve
Cine Chic As St L__
158,577
137,198 Louisville As Nashville—
131,152 Atch Topeka As Santa Fe_
$596,664
331,402
301,335
161,749
121,039 Pennsylvania
120,319 Southern Pacific
119,188 Elgin Joliet As Eastern
—
117,593 Missouri Pacific
111,574 Duluth As Iron Range
108,811 Missouri Kansas As Texas,
105,904 San Pedro Los A As Salt L
105,641 Grand Trunk Western
$393,619
384,639
355,215
314,461
265,221
250,196
241,053
f/219,772
191,831
172,638
cl67,536
159,525
cl54,466
136,236
110,097
101,712
comprehensive. As has been
Michigan Central
previously pointed out by us, all the railroads in the
Representing 15 roads
In
compilation...$2,728,146
United States—barring only the few roads that operate
Decreases.
Representing 17 roads
Northern Pacific
In
$633,135
compilation
$4,251,352
•entirely within State boundaries—are obliged to file
These figures
furnished by the company.
V These figures represent the lines
monthly statements with the Commission. The re¬ Pittsburgh,
directly operated east and west of
the Eastern lines showing $354,348 decrease and the Western
turns are open to ^public inspection, and we have lines $134,576 Increase. For all lines owned, leased, operated and con¬
trolled, the result Is
loss of $63,082.
transcripts of them made for our own use. In order
When the roads are
arranged in groups the effect
to furnish full details for all the separate roads, we issue
of rising expenses is still more
strikingly revealed.
each month a special supplement termed our “Railway
When so grouped it is found that while each of the
Earnings” Section. The October number of that seven
geographical divisions into which we have
supplement accompanies to-days' issue of the “Chroni¬ divided the roads shows a
gain in gross, five of the
are
our
„
our
c
are
a
cle,” and in it will be found in full the reports of seven
groups
earnings and expenses of all the separate roads for the The result
by
month of August. The summaries in the present arti¬
now
cle
are
As far
as
the individual roads
are
But it is not necessary to enumerate at
the roads distinguished in that way. In the
net.
in
length
following
show all
excess
of
changes for the separate roads for amounts
$100,000, whether increases or decreases,
and both in gross
PRINCIPAL
and in net.
CHANGES
IN
GROSS EARNINGS
Increases.
Pennsylvania
„
.
IN
Baltimore As Ohio
Erie
N Y Central As Hud RIv.Louisville As Nashville...
Union Pacific
Chicago Mllw & Puget Sd_
Chicago Burl At Quincy..
Chicago Mllw As St Paul..
N Y New Haven As Hartf.
Southern Railway
Lake Shore As Mich So..
Illinois Central
Michigan Centred
Southern Pacific
Great Northern
Phlla Balto As Washington
Atlantic Coast Line
Norfolk As Western
Boston As Maine
Delaware As Hudson
Chicago St P Minn As O..
Lehigh Valley
_
_
Delaware Lack
As West’n.
Cine New Orl As Tex Pac.
Spokane Port As Seattle..
773,568
a752,676i
533,595
523,083
471,969
466.035
439,306
Central of New Jersey...
Chesapeake As Ohio
Denver As Rio Grande._
Chicago As Eastern Ill
Missouri Pacific
Virginian
Pittsburgh As Lake Erie..
412,109 Wabash
393,721: Western Maryland
391,607
354,662
341,269
318,578
317,655
289,380
275,187
262,828
249,832
230,885
215,796
211,628
201,722
Duluth Mlssabe As Nor..
Rock Island
Texas As Pacific
Missouri Kansas As Texas.
Central of Georgia
N Y Ontario As Western..
St Louis Southwestern
San Antonio As Aran Pass.
Representing 48
In our
__
_
Increases
$165,159
162,685
157,534
155,222
153,747
153,668
C146.664
140,871
134,414
132,808
124,984
123,610
121,800
120,175
C118.130
116,081
114,079
106,023
101,272
roads
compilation..$14.812,263
196,650 Northern Pacific
195,584 Duluth As Iron Range
194,7981
173,49
Representing 2 roads In
167,69
our compilation
_
Decreases.
$653,229
135,475
$788,704
Note.—All the figures In the above are on the basis of
the returns filed
with the Inter-State Commerce
Commission. Where, however, these
returns do not show the total for
any system, we have combined the
separate roads so as to make the results conform as
nearly as possible to
those given In the statements furnished
by the companies themselves.
*'These figures cover merely the
operations of the New York Central Itself.
Induci ng the various auxiliary and
controlled roads, like the Michigan
Shore,York
the •‘Big Four,” the “Nickel Plate,” Aoc., the whole
going to form the New
Central
167 In gross but a loss of $771,615 System, the result Is a gain of $2,166,Ip the net.
* *
*
c These figures are
furnished by the company.,,
figures represent the lines
directly operated east and west of
£he L*£e
nntllSSlSl?*.'194^700' lno,^fse aad
Gross
or
Group—
August—
Group 1 (29 roads) New England
Group 2 (135 roads) East and Middle.
Group 3 (105 roads) Middle West
Groups 445 (153 roads) Southern
Groups 6 *7 (112 roads) Northwestern
Groups 8 &9 (170 roads) Southwestern
Group 10 (65 roads) Pacific Coast
Total (769 roads)
Group No. 1
Group No. 2
Group No. 3
Groups Nos. 4 and 5
Groups Nos. 6 and 7
Groups Nos. 8 and 9
Group No. 10
Total
1910.
$
12,018,011
61,382,900
37,383,346
28,395,116
58,765,112
38,004,677
15,556,824
Earnings
1909.
Inc. (+) or
Dec. (—).
%
11,270,325
$
4-747,686
55,942,061
33,798.002
25,479,144
+5,440,839
55,939,035
36,268,545
14,969,533
+ 3,585,344
+2,915,972
+2,826,077
+1,736,132
+ 537,291
%
6.63
9.73
10.61
11.45
5.05
4.79
3.92
251,505,986 233,666,645 +17,839,341 7.63
Net Earnings
Mileage
Inc. (+) or
1910.
1909.
1910.
1909.
Dec. (—).
$
$
t
%
7,982
7,898 4,242,205 4,455,616 —213.411 4.79
25,848 25,972 21,341,986 20,727,143 + 614,843 2.96
26,349 26,170 12,622,799 13,104,184 —481.385 3.67
40,405 39,859 8.891.065 8,439,082 + 451.983 5.36
63,748 62,704 22,589,036 22,761,455 —172,419 0.76
53,778 52,230 12,146,086 12,679,107 —533,021 4.21
16,695 16,092 6.851,561 7,363,067 —511.506 6.81
234,805 230,925 88,684,738 89,529,654 —844,916 0.94
NOTE.—Group I. Includes all of the New England States.
Group II. Includes all of New York and Pennsylvania except that portion west
of Pittsburgh and Buffalo; also all of New Jersey, Delaware and Maryland,
and
the extreme northern portion of West Virginia.
Group III. includes all of Ohio and Indiana, all of Michigan except the northern
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
Groups IV. and V. combined Include the Southern States south of the Ohio and
east of the Mississippi River.
Groups VI. and VII. combined Include the northern peninsula of Michigan, all of
Minnesota, Wisconsin, Iowa and Illinois; all of South Dakota and North Dakota, and
Missouri north of St. Louis and Kansas City; also all of Montana,
Wyoming and
Nebraska, together with Colorado north of a line parallel to the State line passing
through Denver.
Groups VIII and IX. combined Include all of Kansas, Oklahoma, Arkansas and
Indian Terltory; Missouri south of St. Louis and Kansas City; Colorado south of
Denver; the whole of Texas and the bulk of Louisiana; and that portion of New
Mexico north of a line running from the northwest corner of the State through
Santa Fe and east of a line running from Santa Fe to El Paso.
Group X. Includes all of Washington, Oregon, Idaho, California, Nevada, Utah
and Arizona, and the western part of New Mexico.
AUGUST.
.
t/$2,010,137 Seaboard Air Line
897,891 Philadelphia As Reading..
Cleve Cine Chic & St L.
Vandalla
Chicago As Alton
SUMMARY BY GROUPS.
Section
concerned, there is
still a considerable number able to report pretty
good increases in gross. The increases in the net,
however, are limited, and are more than outbalanced
by the roads which are obliged to report decreases,
some of them for large amounts.
The Pennsylvania
on the lines directly operated east
and west of Pitts¬
burgh has $2,010,137 increase in gross but $219,772
decrease in net. For all lines owned, leased, operated
and controlled the Pennsylvania reports $2,905,390
gain in gross but $63,082 loss in net. The New York
Central shows $752,676 increase in gross with
$8,743 increase in net. This relates to the Central
itself. Including the various auxiliary and controlled
roads, the result for the New York Central System is a
gain of $2,166,167 in gross with a loss of $771,615 in
we
present.
the totals derived from these statements of the
separate roads.
sections have actual losses in net.
groups is set out in the table which we
or
the Western lines
It is needless to say
that in August last year the
comparisons were very satisfactory. Our own com¬
pilations then embraced 724 separate roads, covering
an aggregate of 216,332 miles.
On this extent of road
there was an improvement of $27,560,148 in gross and
an increase of $13,720,823 in net.
Complete returns,
published some time later by the Inter-State Commerce
Commission, and covering 235,987 miles, showed
$29,682,863 gain in gross and $15,065,001 gain in net.
In Aug. 1908, of course, there were large losses in both
gross and net.
Our statement then recorded $29,909,010 loss in gross and $7,269,787 loss in net, the
figures, however, covering only 191,116 miles of road.
Full returns, when published by the Inter-State Com¬
merce Commission, and
covering 231,219 miles, showed
$34,366,578 decrease in gross and $9,222,389 decrease
in net.
In the following we furnish the August
comparisons back to 1896. For 1909 and 1908 we use
the Inter-State Commerce totals, but for preceding
years we give the results just as registered by pur own
tables each year—a portion of the railroad mileage of
the country being always unrepresented in the total,
OCX. 22
owing to the refusal of some of the roads in those days
monthly figures for publication.
to furnish
Net Earnings.
Gross Earnings.
Jr CCLT,
August.
...6981
...7981
..8981
...9981
...0091
..1091
..2091
..3091
1904
...
1906
...
...5091
...7091
..8091
..9091
..0191
Year
Year
Given.
Preceding.
Inc. (+) or
Dec. (—).
S
%
9
52,240,197 55,319,991 —3,079,794
+8,154,908
66,842,723 58,687,815
77,846,913 76,324.949 + 1,521,964
81,952,795 70,965,451 + 10,987,344
92,067,423 85,191.125 +6,876,298
108.575,332 96,440,678 + 12,134,654
105,390.629 102,111,428 +3,279,201
121,050,739 105,267,446 + 15,783,293
+ 155,892
119,821,635 119,665,743
125.099,694 114,112,603 + 10,987,091
137,589,560 122,898,468 + 14,691,092
144,913,337 128,178,064 + 16,735,273
206,755,864 241,122,442 —34,366,578
236,559,877 206,877,014 +29,682,863
251,505,986 233.666.645 + 17,839,341
Year
Given.
Preceding.
Inc. (+) or
Dec. (—).
S
%
9
Year
*
17,418,959 19,023,398 —1,604,439
24,228,620 19,592,169 + 4,636,451
—247,221
27,942,601 28,189,822
29,730,968 25,200,009 +4,530,959
33,216,118
40,548,771
35,928,409
41,282,319
43,168,250
43,201,744
48,074,911
45,629,104
75,028,707
90,384,539
88,684,738
31,032,360
34,210,061
37,776,146
35,747,474
40,913.469
40,480,712
42,719,768
44,849,985
84,251,096
75,319,538
89.529,654
+2,183,758
+6,338,710
—1,847,737
+6,534,845
+2,254,781
+2,721,032
+ 5,355,143
+779,119
—9,222,389
+ 15,065,001
—844,916
Note.—In 1896 the number of roads Included for the month of August was 127; in
1897, 135; In 1898, 138; In 1899, 113; In 1900, 129; In 1901, 116; in 1902, 105; in
1903, 114; in 1904, 100; in 1905, 95; in 1906, 91; in 1907, 86; in 1908, 794; in
1909,724; in 1910, 769. We no longer Include the Mexican roads or the coal-mining
operations of the anthracite coal roads in our totals.
COTTON
OF
CONSUMPTION
AND
EUROPE
THE
WORLD.
Mr. Thomas R. Ellison's ‘‘Annual Review of the Cotton
Liverpool on Thursday of the current
week, and the cable brings us all the interesting data con¬
tained therein, including his usual estimate of consumption
requirements for the season of 1910-11. We first give the
takings of cotton by European mills in actual bales and
pounds for the year 1909-10, appending for the purposes of
comparison the figures for 1908-09 and 1907-08.
Trade”
was
1071
THE CHRONICLE
1910.]
c
issued in
Great Britain.
October 1 to September 30.
For 1909-10.
Takings by spinners
Average weight of bales
Takings in pounds
bales
lbs.
For 1908-09.
Takings by spinners
Average weight of bales
Takings in pounds
bales
lbs.
Continent.
Total.
3,200,000
5,583,000
8,783,000
486
467
473.9
1,555,137,000 2,607,032,000 4,162,169,000
118990--08436725
»
J
-
cotton-manufacturing establishments, according
to the information at hand, have apparently used a little less
cotton during the past season, and the same is true of Japan.
For those and other countries we have as yet no later infor¬
mation than that upon which we based the estimate given in
our crop report.
Bringing together the results for E urope,
India and the United States, and adding the total for Japan,
Canada, &c., we practically cover the world—at least that
part of it from which any reliable data are obtainable.
Below we give these returns combined for ten years, in bales "
of the uniform weight of 500 lbs.
India the
World's Con¬
sumption.
Conti¬
nent.
Great
Britain.
All
United
States.
868,000 13,773,000
784,000 13,416,000
905.000 14,415,000
766,000 14,478,000
8 68.000 14,310,000
1,060,000 15.612,000
1,097,000 16,435,000
1,125,000 16,979,000
1,078,000 16,276,000
1,149,000 17,154,000
1,072,000 15,840,000
1,139,000
1,060,000
1,384,000
1,364,000
1,368,000
1,474,000
1,586,000
1,552,000
1,561,000
1,653,000
1,600,000
3,334,000 4,576,000 3,856,000
3,269,000 4,576,000 3,727,000
3,253,000'4,836,000 4,037,000
3,185,000 5,148,000 4,015,000
3,017,000 5,148,000 3,909,000
3,620,000 5,148,000 4,310,000
3,774,000|5,252,000 4,726,000
3,892,000 5,460,000 4,950,000
3,690,000 5,720,000 4,227,000
3,720,000 5,720,000 4,912,000
3,175,000,5,460,000 4,533,000
Total.
Others.
India.
According to the above, the world's consumption fell to
15,840,000 bales of 500 lbs. each in 1909-10, or a loss of
1,314,000 bales from 1908-09, and records a decrease of
436,000 bales from 1907-08.
Mr. Ellison's estimate of the number of spindles in Europe,
America and India during 1910 has also been received, and
we give it below, adding for purposes of comparison the
figures for previous years.
56,000,000 55,600,000 54,600,000
40,000,000 39,000,000 37,000,000
28,636,000 27,780,000 26,752,000
5,400.000
5,900,000
6,100,000
Great Britain.
Continent
United States
East Indies..
1906.
1907.
1908.
1909.
1910.
Spindles.
52,000,000
35,800,000
25,924,000
5.400,000
50,000,000
35,500,000
24,781,000
5,200,000
130,736,000 128,280,000 123,752,000 119,124,000 115,481,000
Total
Our cable
also
Mr. Ellison estimates that
states that
Europe and the United States (including amounts shipped
country to Japan, Canada, &c.) will in 1910-11
require
for
consumption 14,400,000 bales of 482.1 lbs
For 1907-08.
9,529,000
5,926,000
3,603,000
Takings by spinners.
average
making 13,884,000 bales of 500 lbs. each,
weight,
bales
479
488.4
504
Average weight of bales
lbs.
against
13,978,000
bales of 478.7 lbs. average weight,
1,815,680,000 2,838,487,000 4,654,167,000
Takings In pounds
equaling 13,383,000 bales of 500 lbs. each in 1909-10. In
Mr. Ellison’s estimates the amount needed from America is
The takings of the mills in Great Britain, it will be noted,
placed at 11,500,000 bales, 1,500,000 bales are required
were materially less than in 1908-09, and the same is true
from India, 950,000 bales from Egypt and 450,000 bales
of the Continent.
Consequently, for the whole of Europe
from other sources of supply.
This would seem to indicate
the aggregate takings show a decline of 932,000 bales as
that he is of the opinion that consumption in Europe and
compared with the previous season, and there is a decrease
for the United States, Canada, &c., will be about 501,000
from 1907-08 of 746,000 bales.
bales of 500 lbs. each greater than in the season just closed.
Consumption for the whole of Europe has decreased
The estimate of requirements and consumption, in detail
appreciably but aggregate stocks of raw material held by the
are as follows.
mills at the close of the season record a moderate falling off
from a year ago.
To indicate clearly the relations existing
Actual
Actual
Estimated
3,603,000
6,112,000
9,715,000
506
482
490.9
1,823,078,000 2,946,167,000 4,769,245,000
from this
„
bring together in tabular form
takings, consumption and stocks, all reduced to bales
1
between different years, we
the
of 500 lbs. each, as follows.
Bales oj 500 lbs. each.
Great Britain—
Stock October 1 (beginning
Deliveries during year
of year)..
Total supply for year
Total consumption for year..
Stock October 1 (end of year)
Continent—
Stock October 1 (beginning of year)-.
Deliveries during year
;
Total supply for year
Consumption during
year
Stock October 1 (end of year)
Requirements—Ordinary bates—
American
East Indian
1907-08.
1909-10.
1908-09.
234,000
3,110,000
308,000
3.646,000
3,631,000
3,344,000
3,175,000
3,954,000
3,720,000
3,998,000
3,690,000
169,000
234,000
308,000
1,218,000
5,214,000
1,046,000
5,892,000
1,089,000
5,677,000
6,432,000
5,460,000
6,938,000
5,720,000
6,766,000
5,720,000
972,000
1,218,000
1,046,000
367,000
Europe for the three years are
(in bales of 500 lbs.):
Egyptian
Sundries
Total requirements
Average weight
Requirements, bales, 500 lbs
1910-11.
1908-09.
1909-10.
Bales.
Bales.
Bales.
11,500,000
1,500,000
950,000
450,000
11,507,000
1,408,000
734,000
329,000
12,860,000
945,000
912,000
252,000
14,400,000
13,978,000
14,969,000
482.1
478.7
491.9
13,884,000
13,383,000
14,725,000
figures of course are not intended to be estimates of
yield in various countries, Mr. Ellison merely indicating
the extent to which, in his belief, each source of supply will
be called upon to contribute to the season's consumptive
requirements. In other words, he is of the opinion that
14,400,000 bales of ordinary weight will be necessary in
order to leave mill stocks unchanged.
These
the
The totals for the whole of
as
follows
All
Europe.
Stock October 1
Deliveries during the year..
Total supply
Total consumption
Stock October 1 (end of year)
1907-08.
1909-10.
1908-09.
1,452,000
8,324,000
1,354,000
9,538,000
1,456,000
9,308,000
9,776,000
8,635,000
10,892,000
9,440,000
10,764,000
9,410,000
1,141,000
1,452,000
1,354,000
presented above cover only Great Britain
and the Continent, it is necessary, to arrive at an idea of
the world's consumption, to include returns for the United
States, India, Japan, Canada, Mexico, &c., which we have
done bfelow.
The data for the United States was fully given
in our Annual Crop Report, issued in September, and it indi¬
cated a decrease in consumption during the season.
In
As the results
BANKERS AND TRUST GO'S.
public sales of bank stocks this week aggregate
150 shares, of which 120 shares were sold at the Stock Ex¬
change and 30 shares at auction. The transactions in trust
company stocks reach a total of 12 shares.
ITEMS ABOUT BANKS,
—The
Low
BANKS—New York.
Shares.
*25 Commerce, Nat.
7 Com Exchange
*91 Fourth National Bank
5 Market & Fulton Nat. Bank.
14 Northern Bank
185
251
186
251
185
251
100
100
350
100
.350
a8 Park Bank, National.—348,
TRUST COMPANIES—New York.
10 Astor Trust Co.
..
High. Close.
202
202
202
311M 311M 311
Bank of
Bank
.....
2 Trust Co. of America!-.J...
‘325
330
"Mfs \\y~V
*
:
325
'330
Last previous sale.
Oct. 1910— 202
May 1910— 323
Oct.
May
Sept.
Oct.
1910— 180
1910— 255H
1910— 10Q
1910-— 352
r
325
330
May 1910— 360
May 1910—^ 348 H
V‘‘ i'•/ '/ -.. r i‘
Sold at the Stock Exchange. > o Of this amount 4 shares were sold At
he Stock Exchange.1 '
- \
i
—;
*
’-r.
1072
THE CHRONICLE
—Charles D. Hilles has tendered his
resignation as Assistant
Secretary of the United States Treasury. At the request of
the President, however, he has consented to remain in the
office until the close of Ihe next session of
Congress, on
March 4.
Mr. Hilles has served in the
post about a year
and a half.
He will retire to engage in private business.
—A New York Stock
Exchange membership was posted
for transfer this week, the consideration
being $75,000, the
preceding transfer.
—The closing of the Charing Cross Bank, a
private banking
concern, with headquarters in London, was reported in
cable advices received by the daily
papers here on the 18th
inst.
In its issue of the
following day, the New York “Sun,”
in a despatch from
London, said: “According to the “Finan¬
cial News,” Mr. Carpenter, owner of the
Charing Cross Bank,
the failure of which was announced
yesterday, denies that it
; is insolvent.” The petition in bankruptcy, it is added, was
filed in consequence of
proceedings against him in connection
with the investment of the bank’s
money in a Canadian
railway venture. The bank is said to have deposits of
$5,000,000.
same as
for the
—The
cotton-bill-of-lading situation has not materially
changed during the week, save for the fact that the European
bankers have agreed to extend the time for
negotiating
cotton bills
on the present basis from October 31
to December
In their resolution adopted last
July the English and
Continental bankers had fixed upon October 31 as the final
date for the acceptance of drafts
against bills of
31.
lading unless
guaranteed through exchange buyers in this country. The
plan for the creation abroad of a guaranty company to
guarantee the validity of bills of lading, devised last week
during the conferences of the local bankers and cotton men
with Sir Edward H. Holden, Chairman and
Managing
Director of the London City & Midland Bank of
London,
and Chairman of the Foreign Bankers’ Committee on
Cotton
bills of lading, as noted in our issue of last
Saturday, is being
vigorously opposed by the cotton exchanges and other
commercial bodies of the South.
guaranty by
It is understood that
a
responsible surety or insurance company
would also be acceptable to the
foreign bankers; a proposition
of this sort was submitted to the local
banking committee
this week by a group of
surety companies, which offers to
a
guarantee the cotton bills at the flat rate of 6 cents per
bale.’ Sir Edward returned to
Europe on Wednesday, and
before his departure gave out the
following statement, which
is indicative of the situation at the
present time:
“Since Thursday last communications have been received
from so many
of the interior bankers in the State
agreeing generally to a guaranty, by a
guaranty company, surety company or Insurance
company, being given
to the European bankers that Sir Edward
Holden, who has been negotiating
with the American bankers, feels himself
justified in recommending, and
has recommended, to the European bankers to extend
the date for the
negotiation of cotton bills on present lines from Oct. 31 to Dec.
31, such
period being considered necessary for the perfection of a method
for the
safeguarding of bills of lading, and which will also protect the European
bankers from the Issue of forged bills of
lading and forged validation
certificates by persons outside the
railway companies and of which the
railway companies can have no cognizance.
>:.“The European bankers have agreed to this extension on
the under¬
standing that the right is reserved to them to further consider In
conference
with the American bankers, if found
necessary, other schemes of protection,
If the guaranty or Insurance proposal should be found to be
impracticable.”
The surety companies which have this week submitted
to
the bankers an offer for
guaranteeing the bills of lading are
the American Surety Company,
the National
Surety Co., the
Fidelity & Deposit Co. of Maryland, the United States
Fidelity & Guaranty Co. and the Title Guaranty & Surety Co.,
with
a
combined capital and surplus of $17,700,000.
[Yol.
lxxxxi.
TREASURY DEPARTMENT,
Office of Commissioner of Internal
Revenue,
Washington, D. C., Sept. 24 1910.
Your letter of the 20th Instant, relative to the
special excise tax on
corporations, has been received, in which you give a list of
building asso¬
ciations in your district which have made
affidavit that they are purely
mutual associations; that
they have not loaned, nor do they loan, to others
than members; and that their
shareholders, both borrowers and non¬
borrowers, have credited to their several accounts their pro rata
of all
dividends declared by the
associations, and that they are therefore exempt
from the provisions of the Act of
Aug. 5 1909, providing for the sped a
excise tax on
corporations, and in which letter you request permission to
strike those corporations from the schedule
in your office.
In reply, you are informed that It would
appear that further Informa¬
tion is necessary in some, if not all, of these cases.
It has been held that building and loan
associations are not exempt, if
they loan money to others than their members, thus
doing a business similar
to that engaged in by banks or trust
companies. It is also held that building
and loan associations which receive
sums of money on deposit which is
not
in payment of stock, and on which the
depositor receives a fixed rate of
Interest, regardless of the earnings of the association, are
conducting a
business similar to a banking business, and are
therefore subject to the
special excise tax on corporations and should be
required to make a return
Sir:
showing their
net Income.
In your list is given the name of the
to receive deposits from shareholders
and
,
which is known
others on which a fixed rate of
of the money so deposited is paid.
The money so
received is loaned again at a rate of Interest
higher than that paid to de¬
positors, from which it appears that a business for profit is
being con¬
ducted.
The practice of receiving deposits and
paying a fixed rate of
Interest thereon also destroys the purely mutual nature
of the association.
It is quite probable that there are others In
the list conducting business
along similar lines, and further inquiry should be made to ascertain
the
facts In each case and a return should be
required where your inquiry shall
disclose the necessity therefor.
Interest for
the
use
Respectfully,
J. C. WHEELER, Acting Commissioner.
Mr. T. L. Golds borough. Collector Internal
Revenue, Baltimore, Md.
—The organization of
in
a
national currency association
Chicago, the preliminaries of which were undertaken
early in September, was completed on the 14th inst. The
association has been formed under the title of the
National
Currency Association of the City of Chicago, and its officers
President, George M. Reynolds, President of the Conti¬
Bank; Vice-President, David
R. Forgan, President of the National
City Bank; Secretary,
William A. Heath, President of the Live Stock
Exchange
National Bank, and Treasurer, William A.
Tilden, Presi¬
are:
nental & Commercial National
dent of the Fort Dearborn National.
The executive com¬
mittee consits of Ernest A. Hamill, President of the
Corn
Exchange National Bank; James B. Forgan, President of the
National Bank; John A.
Lynch, President of the
National Bank of the Republic;
George M. Reynolds, and
D. R. Forgan.
First
—A national currency
association, under the provisions
May 30 1908, has also been
organized by the national banks of Minneapolis, St. Paul
and adjacent territory, the title
adopted by its projectors
being the National Currency Association of the Twin Cities.
The banks included in its
membership are the First National,
Security National and Northwestern National of Minneapo¬
lis, the National German-American, the First National, the
Capital National, the American National and the Second
National of St. Paul; the First National and
Lumbermen’s
National banks of Stillwater; the First National of
Hastings,
of the Aldrich-Vreeland Act of
and the Stock Yards National Bank of South St.
Paul. The
following are the officers of the association: President,
J. W. Lusk, President of the National
Bank of St. Paul; Vice-President,
President of the Security National
German-American
Perry Harrison, ViceBank of Minneapolis;
Secretary, George C. Power, President of the Second National
Bank of St. Paul; and Treasurer, E. W.
Decker, Vice-Presi¬
dent of the Northwestern National Bank of
Minneapolis.
They
—A national conference to
study the currency problem
offer, it is said, to guarantee the bills jointly and severally.
has been called to meet at Columbia
Some months ago the surety
University on November
companies considered ar¬ 11 and 12
by the Academy of Political Science of this city.
rangements for guaranteeing the bills of lading, but the
The program includes a dinner at the Hotel Astor on
the
charge then proposed was 25 cents a bale. The rate in their
present offer about corresponds with that which it was figured 11th, at which the National Monetary Commission, with
Senator Nelson W. Aldrich as its
would be charged by the guaranty
Chairman, will be the
company proposed to be
guests.
It
is
announced
that
Senator
Aldrich plans to make
formed abroad.
As showing the attitude of Southern in¬
a statement at the dinner
concerning
the
work and progress
terests toward the movement under consideration
here, of the Commission. Other
we quote the
speakers at the dinner will
following from the resolution adopted by the include Jacob H.
Schiff, Prof. J. Laurence Laughlin and
Atlanta Chamber of Commerce on the 15th inst:
“Merchants, cotton buyers, wholesale merchants and manufacturers of
Chamber are unalterably opposed to any adjustment which
places an
additional tax upon the cotton crop.”
“Furthermore, we feel that the proposed adjustment reflects upon the in¬
tegrity of the dealers in this commodity, and discriminates against cotton
as compared with all other
exportable merchandise in requiring of cotton
merchants what is not required of exporters of other
commodities.”
our
—Under date of Sept. 24, J. C. Wheeler,
missioner of Internal Revenue, made a
so-called mutual building
and
held subject to the Federal
the Act of
Aug. 5 1909.
Acting Com¬
ruling as to when
loan associations would be
corporation tax imposed under
Hjs letter in the matter says:
A. Piatt Andrew.
—The Knickerbocker Trust Co. of this
city has decided
complete its plans for a twenty-two-story building on its
lower Broadway property and has
arranged for the addition
of fourteen stories to its
present structure of eight stories.
The site, at 60 Broadway, corner of
Exchange Place, was
acquired by the company in May 1906. While the higher
structure was originally planned, it was decided when its
erection was begun in 1908 tp confine the
height to eight
stories, but to provide a foundation which would permit of
the building of additional stories in case the
company
to
Oct. 22 1910. J
decided later to carry out its original purpose.
the step until the present time, the company,
expects to save
1073
THE CHRONICLE
In deferring
it is stated,
$300,000 from the original estimated cost.
—James G. Cannon, President of the Fourth National
Bank of this city, was elected to the directorate of the Metro¬
It it
expected that there will be a reorganization of the firm.
The liabilities were estimated
as
approximately $1,750,000
Besides its main office at 24
on
the day of the suspension
and the assets as $1,250,000.
Broad Street, the firm had
branches at 9 East 55th Street and 795
and
a
Broadway this city,
Chicago branch.
politan Trust Co. of this city on the 19th inst. Mr. Cannon
—J.J.Shubert, of the theatrical firm of Sam S.and Lee
replaces the late J. Edward Simmons as a member of the
Shubert,
has been elected a director of the Sherman National
trust company’s board.
Bank of this city.
—The Fulton Trust Co. of this city, upon its twentieth
—Cord Meyer, a director of several financial institutions,
anniversary, which occurred on the 21st inst., issues a
died
on the 14th inst.
Mr. Meyer had formerly been a special
folder containing an excellent colored half-tone of the “Cler¬
mont, ” Robert Fulton’s first steamboat, with the Palisades partner in the banking house of R. C. Rathbone, but dis¬
in the background.
It also furnishes a cursory view continued his interest in the firm with the death of his
of the banking period covered by the bank—from 1890 to father in order to devote his attention to the management
He was a member of the board of directors
1910.
The feature of the general banking situation, it is of the estate.
of
the
Hanover
National Bank, the Trust Company of
noted, is the great growth of the large banks. Of the fifty in
the New York Clearing House (we quote from the circular),
America, the Home Insurance Co. and the Kings County
seven banks have about one-half the deposits.
There are Trust Co. of Brooklyn. He was fifty-six years of age.
thirty-four trust companies in the Borough of Manhattan,
—John W. Weber has been elected to succeed the late
and eleven have about 70% of the deposits.
Two important Marshall S. Driggs as First Vice-President of the First
events affecting trust companies are cited, first the change
National Bank of Brooklyn Borough.
Frederick H. Way
in the tax laws, which put the trust companies on the same has been chosen to replace Mr. Driggs as a director of the
footing as the State and National banks, while they were institution.
previously exempt by investment in city bonds; second, the
—New interests have become identified with the Rockport
placing of trust companies on the 15% cash reserve basis National Bank of
Rockport, Mass. Several of the former
in the Borough of Manhattan.
These two items have members of the directorate have resigned and disposed of
resulted in a cost to the company of about 10% annually
their stock, their holdings having been purchased by Roger
($50,000) on its capital. The panics which have been W.
Babson, of Wellesley Hills, Mass., and H. Chester Story
witnessed since the company’s inception are summarized as
of Pigeon Cove, who have been chosen to fill two of the
follows: 1890, English crisis; 1893, Silver Inflation crisis;
vacancies on the board.
It is reported that other changes
1895, Venezuela Flurry; 1896, Silver Panic; 1901, Northern
may occur, either with respect to increasing the capital or
Pacific Corner; 1903, Undigested Securities Decline, and
converting the institution into a trust company. It is also
1907, Banking P&nic. The net results of the institution’s
said to be likely that the institution will be moved to groundtwenty years of activity are furnished as follows:
floor quarters and that other plans for making it more upThe present undivided profits at market value for securities
(July 1 to Oct. 21, estimated)
$597,278 31 to-date in character will be adopted. Mr. Babson, one of
Paid out In dividends
767,500 00 the new directors, is Vice-President of the Gloucester (Mass.)
Safe Deposit & Trust Co.
Total net profits of the 20 years' business on $500,000 capital
and $250,000 paid-in surplus
$1,346,778 31
—J. William Hardt has been elected an Assistant Cashier
The institution is under the management of Henry C. of the Franklin National Bank of Philadelphia.
He had
Swords, President; H. H. Cammann, Vice-President; H. W. been head of the general ledger department of the bank,
Reighley, Second Vice-President and Secretary, and C. M. and in his new post succeeds C. V. Thackara, who resigned
Van Kleek, Assistant Secretary.
to take the managership of the uptown branch of the
—An assignment was made on the 14th inst. by Thomas
Philadelphia Trust Co.
G. Gaylord, trading under the firm name of Latham, Alex¬
—The stockholders of the Merchants’ Savings & Trust
ander & Co., with offices at 43-49 Exchange Place, this city. Co.
of Pittsburgh, at a meeting on the 14th inst., ratified a
Frank A. Gay nor is the assignee.
The original firm of proposition to reduce the capital of their institution from
Latham, Alexander & Co. was established in 1869. Mr. $250,000 to $125,000.
Alexander retired some years ago, the business being con¬
—In our reference, on the 8th inst., to the Harris Safe
tinued, up to the time of the death last year of John C.
Deposit
Co. of Chicago, we stated that the directors of the
Latham, by Mr. Latham and Charles Fraser. Following
company had declared the regular dividend of 3%, payable
Mr. Latham’s death (which occurred in August 1909) Mr.
These remarks with regard to the dividend distri¬
Oct. 1.
Fraser, the sole surviving member of the firm, which had
bution should have been applied to the Harris Trust &
been an important cotton and financial factor, was under¬
stood to have liquidated the business.
Early this year, Savings Bank, and not to the safe deposit company. The
however, Mr. Gaylord, brother of the widow of John C.
Latham, took over the former offices of the firm and con¬
ducted business under the old trade name, the right to the
use of the latter, it was claimed, having been given him by
latter is not
yet
upon
an
operating basis, being still
engaged in constructing the Harris Trust Building, which it
is expected will be ready for occupancy about May 1 1911.
—Vance J. Alexander, heretofore Assistant Cashier of the
Mrs. Latham.
Mr. Latham was a member of the New York Cumberland Valley National Bank of Nashville, Tenn., has
Stock and Cotton exchanges. His seat on the Cotton Exchange been elected Cashier of the bank, succeeding Thomas G.
was disposed of, but his seat on the Stock Exchange still
Garrett, who resigned to become Manager of the Nashville
stands in his name.
Mr. Gaylord was not a member of Clearing House Association. T. D. Steele, formerly general
either exchange, and his business in this city is said to have bookkeeper of the bank, has been made, Auditor of the
been restricted, although it is reported that he had done a institution.
rather extensive business in the South.
Mr. Gaylord was
—The consolidation of the Capitol Savings Bank of Rich¬
the Cincinnati manager for the firm of A. O. Brown & Co., mond with the Bank of Commerce & Trusts became effective
Which failed in 1908.
on
the 1st inst.
The
proposed movement to unite the two
Exchange house of Chas. Minzes- was referred to in our issue of August 6. The consolidated
heimer & Co. also made an assignment on the 14th inst. institution is under the management of Oliver J. Sands,
Subsequently a petition in bankruptcy was filed against the President; A. R. Holladay, Vice-President; R. M. Kent Jr.,
firm, and Edward G. Benedict was named as receiver in Cashier and R. B. Campbell, Assistant Cashier.
bankruptcy. The suspension is said to have been due in a
—J. S. Rice has been elected President of the Bankers’
measure to the immobile nature of some of the assets, and
Trust Co. of Houston, Texas, succeeding H. N. Tinker,
partly to a readjustment of the interests of the members, resigned, and Judge Tom M. Taylor has been elected active
necessitated by the death last spring of Clarence C. MinzesVice-President of the institution. The company also has a
beimer.
The business was established in 1869 by Charles
new Secretary and Treasurer in Clarence M. Malone.
Mr.
Minzesheimer, and when the latter retired, about thirteen
Rice, the newly elected head of the institution, is also
years ago, he was succeeded as head of the firm by his son,
President of the Union National Bank of Houston.
The present members
the late Clarence C. Minzesheimer.
—H. L. Pittock has been elected President of the Portland
are Arthur W.
Joseph, Frank D. McGuire, Herbert A.
Trust
Co. of Portland, Ore., succeeding the late Behj. I.
The last two are grandsons
Rosenfeld and Allan F. Cohn.
Cohen.
Mr. Pittock had been Vice-President of the institu¬
of Charles C. Minzesheimer, and were admitted to partner¬
tion since its organization in 1887.“ N. U. Carpenter conship in the firm with the death of Clarence C. Minzesheimer.
—The New York Stock
1074
THE CHRONICLE
tinues as the active Vice-President of the
company and the
other officials remain in their
respective capacity, viz.:
A. S. Nichols,
Vice-President; B. Lee Paget, Secretary;
C. W. De Graff and A. L.
Fraley, Assistant Secretaries.
[VOL.
LXXXXI
ptoue targi ©ommcrctal^tifllistt^jcws
English Financial Markets—Per Gable.
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
The
as
London.
Week
IMPORTS AND EXPORTS FOR SEPTEMBER.
Sliver,
The Bureau of Statistics at
Washington has issued the
statement of the country’s
foreign trade for September, and
from it and previous statements we have
fol¬
prepared the
lowing interesting summaries:
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000) are In all cases omitted.)
1910
Exports.
Merchandise.
January-March...
Aprll-June
July
August
September
Total
Excess.
$
Aprll-June
July
August
September
426,788
372,636
117,316
138,365
117,271
—14,110
+19.446
—2,689
—3,699
+51,587
1,222,911 1,172,376
+50,535
1,161,025 1,068,595
10,916
38,601
9,568
9,820
10,283
12,819
3,481
829
3,150
1,822
Total
55,318
+1,348
+28,781
—9,454
—9,669
—1,659
37,978
25,856
16,662
9,230
12,158
7,977
3,270
5,349
2,351
7,546
Excess.
$
+66,951
+3,024
—3,151
—7,342
+32,948
+92,430
Total
+9,347
11,398
10,503
3,795
4,120
3,152
5,123
4,756
4,830
41,765
+25,820
+17,879
+13,392
+3,881
+5,195
97,272
31,105
+66,167
—
+2,241
+2,912
+1,330
+636
+1,678
32,968
+8,797
14,474
14,886
5,049
4,495
10,453
12,419
3,916
3,191
3,261
4,385
43,289
33,240
+4,021
+2,467
+1,133
+1,304
+1,124
+10,049
Excess of Imports.
We subjoin the totals for
merchandise, gold and silver for
nine months since January 1 for six
years:
Merchandise.
Gold.
Nine
Months.
1910...
1909...
1908...
1907...
1906...
1905...
Excess
Im-
ports.
ports.
Silver.
Excess
Exof
Exports ports.
Imports.
Excess
Exof
Exports ports.
Imports.
of
Exports
%
%
%
%
%
%
%
%
%
1,222,911 1,172.376 50,535 55,318 45,971
9,347 41,765 33,968
8,797
1,161,025 1,068,595 92,430 97,272 31,105 66,167 43,289 33,240 10,049
1,230,767 798,498432,269 68,937 38,428 30,509 38,781 30,793
7,988
1,331,588 1,108,072223,516 49,880 30,862 19,801 47,970 34,488 13,482
1,237,834 948,267289,567 35,790 111,776 075,986 45,441 32,994
12,447
1,102,551 < 872,272230,279 42,678 30,340 12,338 39,443 24,607 14,936
Excess of imports.
months since July 1 for six years
Merchandise.
Three
Months.
Im¬
ports.
S
418,152
373,051
352,970
391,138
379,992
361,582
...0191
...9091
...8091
...7091
...6091
..5091
Gold.
Excess
%
0
Ex¬
%
%
Im¬
ports.
%
Excess
Ex¬
of
Exports ports.
%
%
372,952 45,200 5,801 26,583 020,782
350,597 22,454 33,438 10,970 22,468
14,711
15,419 12,020
3,399
13,579
9,393
4,186
4,179 49,238 045,059
2,846 13,730 010,884
13,267
18,751
12,004
14,361
276,047
356,793
310,908
282,331
a
Price per share,
76,923
34,345
69,084
79,251
13,929
Im¬
ports.
%
11,067
10,368
9,651
12,093
9,317
9,333
of
Exports
%
3,644
3,561
3,616
6,658
2,687
5,028
a.Excess of imports.
72)4
34)4
120
91
.
.
.
b £
95)4
7854
123)4
19)4
40)4
67)4
EXCESS OF MERCHANDISE IMPORTS OR EXPORTS.
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891...
1892
1893
Exports
Exports
Exports
Exports
Imports
Imports
Imports
Imports
Exports
.Imports
Exports
Exports
Imports
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
.....
Iwo
-1907
1908
1909...
1910
27,170,679
16,363,921
53,673,024
46,461,725
42,635,426
23,171,938
14,785,237
2,047,010
6.898,059
12,361,660
11,613,110
18,270,975
28,108,404
13,561,121
35,372,172
23,708,387
18,221,322
46,696,522
4,542,162
38,380,638
69,017,161
120,521,440
98,618,430
112,001,348
134,881,714
111,430,180
59,157,820
45,570,835
68,685,998
79,251,258
1875..
1876..
1877..
1878..
1879..
1880..
1881..
1882..
1883..
1884..
1885..
1886..
1887..
1888..
1889..
1890..
1891..
1892..
1893..
1894..
1895..
1896..
Exports
1897..
.Exports
1898..
Exports
1899..
Exports
1900..
Exports
1901..
1902..
Exports
1903..
1904..
1905..
OtJ ,05O,Wv 1906._
34,346,208 1907..
Exports 76.922,823 1908..
Exports 22,454,676 1909..
Exports 45.200,051 1910—
22,103,499
73,028,234
-Exports 230,278,847
Week
103)4
45
91
125
6854
80
45
50)4
50)4
122
27 54
63
124
2754
6354
18154
96)4
8154
123)4
19)4
41)4
67)4
17754
96)4
7854
123 H
1954
41)4
96
7854
12254
19
4054
67)4
67)4
Canada—
Montreal
Toronto
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John.
London
Victoria
Edmonton
Regina
Brandon
ending October 15.
1910.
1909.
Inc. or
Dec.
1908.
$
S
%
S
41,869,268
34,427,845
24,175,867
9,517,164
4,145,816
2,576,203
1,847,226
2,075,390
1,614,776
2,936,290
1,339,693
2,335,683
1,817,413
44,054.867
33,600,400
22,325,941
7,437,835
3,640,953
2,288,035
1,863,780
1,823,204
1,394,554
2,175,867
1,172,000
1,431,600
1,152,651
1.248.104
869.130
—5 0
1907.
$
29,561,230
25,682,518
16,187,091
3,953,456
3,207,281
2,168,175
1,742,288
1,544,253
1,433,343
1,438,368
1,056,932
1,051,829
992,744
33,165,087
24,870,342
12,214,472
90,019,508
90,016,460
+2.5
+8.3
+28.0
+ 13.8
+ 12.6
—0.9
+ 13.8
+ 15.8
+35.0
+ 14.3
+63.1
+ 57.7
+43.6
4,477.522
3,286,280
2,350,065
2,004,423
1,839,898
1,176,659
1,206,358
1,316,479
1,276,343
832,532
612,325 Not included In total
441,872 Not included In total
Lethbridge
Total Canada.
131,926,738
125,230,817
+5.3
DIVIDENDS.
The
future
following shows all the dividends announced
by large or important corporations:
Name of Company.
are
When
Books Closed.
Payable.
Days Inclusive.
IX
2
1X
5
common
Georgia Sou. A Florida, 1st A 2d pref..
Grand Trunk, guaranteed
2
First and second preferred
Great Northern (quar.)
Mexican Ry., common
2X
1X
X
Reading Co., second preferred
Cape Breton Elect. Co., common {No. 1)..
Preferred {No. 9)
Columbus (O.) Ry., pref. (quar.) (No. 44)
Commonwealth Power, Ry. & L., pf. {qu.)
Connecticut Ry. A Ltg., com. A pf. (qu.)
East St. Louis A Sub., pf. (quar.)(No. 18)
Grand Rapids Ry., pref. (quar.) (No. 40)
Havana Electric Ry., com. A pref. (qu.).
Helena Light <fc Ry., preferred {quar.)
Lewiston Aug. & Waterv. St. Ry., pf, {qu.)
Mexico Tramways (quar.)
Milwaukee El. Ry.«kLt.,pf.(qu.) (No. 44)
Montreal Street Ry. (quar.)
Philadelphia Company, common (quar.)
Common (extra)
.........
Public Serv. Invest. Co., pf. (qu.) (No. 6)
Railways Co. General (auar.)
Fin rtp Jopprlo
2X
4
3
2
4X
X*
1
1X
IX
2
Rome Watertown & Ogd., guar. {quar.)..
St. Louis A San Fran. 1st pref. (quar.).
Utica Chenango A Susq. Valley, guar...
Street and Electric Railways.
Tram., Lt. A Pow. (au.)
printed in italics.
Per
Railroads (Steam).
Topeka A 8. Fe, com. (qu.) (No.22)
Central RR. of New Jersey (quar.)
Erie A Pittsburgh (quar.)
First preferred
Second preferred
Missouri Kansas A Texas, preferred
Nashua <k Lowell
Extra
Nat. Rys. of Mexico, 1st pref. (extra)
Norfolk A Western, preferred (quar.)
Northern Pacific (quar.)
Pitts. Cin. Chic. A St. L.. com.«fcpf.(qu.)
for the
Cent.
Atch.
...
50,535,298
103
91
Canadian Bank Clearings.—The
clearings for the week end¬
ing Oct. 15 at Canadian cities, in comparison with the same
week of 1909, shows an increase in the
aggregate of 5.3%.
Evansville A Terre Haute
54,222.267
48,130,029
17,653.894
42.952,033
12,591,848
45,361,052
89,683,704
44,216,877
54,093,535
35
Commercial and fplscellaujeotisglmg
Dividends announced this week
back to 1875:
69)4
72)4
sterling.
In these tables of
totals, gold and silver in ore for all years
are given under the heads
respectively of gold and silver.
The following shows the merchandise balance for each
year
37
68
78
45
63
178 H
7854
123)4
1954
40)4
67)4
152)4
36)4
69
124)4
122)4
2754
96
41
138
122)4
45
51
63
80
122)4
44)4
68)4
78)4
17854
35)4
3154
52)4
35
45
103
91
125
122)4
2754
86)4
26
132
72)4
122)4
78)4
63
77)4
123)4
1854
40)4
67)4
69
73
35
45
51
205
40
138
151
151)4
37)4
68
179)4
96
52
40)4
97.02)4
73)4
854
108)4
103)4
11154
92)4
80)4
3054
51)4
139
12454
122)4
28)4
63
80)4
30)4
91
12354
6754
78)4
79 15-16
85
26
130
35
131
36
103)4
79)4
80)4
71)4
854
107)4
103)4
11054
92)4
203)4
93
120
45
4554
102)4
Fri.
26 3-16
80 1-16
97.05
20354
86 H
26 X
69)4
72)4
34)4
45
51
17754
11254
52)4
3754
51
11254
41
139
152
37
69
122)4
2854
.
108
104
31)4
•
45
104
26)4
131)4
3554
79)4
139
152
6754
7754
.
Preferred
aSecond Preferred
Southern Pacific
Southern Railway
Preferred
Union Pacific
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred
Extended 4s
Calgary
Silver.
Excess
Exports ports.
2554
13154
35)4
79)4
31)4
5254
41)4
Thurs.
26)4
8)4
93
205
87
86
.
aReadihg Company
Wed.
26 3-16
80
80 1-16
97.05
73)4
107)4
202)4
31)4
53)4
41)4
.
Tuts.
73
9
108)4
.
Second Preferred
Illinois Central
139
Louisville & Nashville
152
Missouri Kansas A Texas... 37)4
Preferred
68
Nat. RR. of Mex., 1st Pref.. 72)4
Second Preferred
34)4
N. Y. Central A Hudson Riv. 119)4
N. Y. Ontario A Western..
44)4
Norfolk & Western
102
Preferred
91
Northern Pacific
123)4
80 3-16
104
113
93
.
Winnipeg
£ Similar totals for the three
make the following exhibit:
Ex¬
ports.
.
.
25)4
80)4
72
9
■
a First
13,639
Ex-
.
Erie
First Preferred
Mon.
26
8054
80)4
97.02)4 97.17)4
French Rentes (in Paris) _fr. 96.95
Amalgamated Copper Co.... 71H
bAnaconda Mining Co
8 >A
Atchlsm Topeka A Santa Fe.107 Vi
Preferred
104
Baltimore A Ohio
112
Preferred
93
Canadian Pacific
.201X
Chesapeake A Ohio
85H
Chicago Great Western
25)4
Chicago Mllw. A St. Paul.. .129)4
Denver A Rio Grande
35)4
Preferred
80)4
aPennsylvania
45,971
13,415
+ Excess of exports.
.
25H
80)4
80)4
.
Silver and Silver in Ore.
January-March...
Aprll-June
July
August
September
For account
■
.
Gold and Oold In Ore.
January-March...
Consols, New, 2)^
Sat.
d.
per cents.
■
Exports. Imports.
$
$
355,105
422,056
365,917
362,893
109,337
112,488
109,752
117,094
153,963
121,015
$
peroz
...
1909
Imports.
%
412,678
392,082
114,627
134,666
168,858
ending October 21.
IX
1
3
IX
3
IX
IX
1
IX
IX
IX
IX
IX
IX
IX
2X
-IX
X
IX
1
IX
Dec.
Nov.
Deo.
Nov.
Nov.
Nov.
Nov
Nov.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
1
1
10
1
2
8
8
1
22
22
22
10
Nov.
Nov.
Oct.
Nov.
Nov.
Nov.
18 Holders of reo.
1 Holders of rec.
25 Holders of reo.
10 Holders of rec.
15 Nov. 1
to
1 Oct. 15
to
1 Holders of rec.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Oct.
Nov.
NOV.
Nov.
Nov.
Nov.
Nov.
Holders
Holders
Holders
8ept. 18
Holders
Sept. 23
Sept. 23
Holders
Oct.
3
3
Oct.
Oct.
3
Holders
1 Holders
1 Holders
1
1
1
1
15
1
1
12
1
1
1
31
2
1
1
1
1
1
Holders
Holders
Holders
Holders
of ree. Nov. 4a
of rec. Oct.21a
of ree. Nov.30a
to
Oct. 17
of rec. Oct.
5
to
Oct. 24
to
Oct. 24
of rec. Oct. 18a
to
Oct. 19
to
Oct. 19
to
Oct. 19
of rec. Oct 26a
of rec. Oct. 15a
of rec. Oct.15a
Oct.31a
Oct.13a
Oct. 15a
Oct.22a
Dec.
1
Nov. 14
Oct. 15a
of rec. Oct.21a
of rec. Oct.21a
of rec. Oct.lSa
of rec. Oct.19a
Holders of
Holders of
Oct 15a
Oct.15a
Oct. 23
to
Nov. 12
Holders of rec. Oct.24a
Holders of rec. Oct.15a
Oct. 18
to
Oct. 31
Holders of rec. Oct. 20
Oct. 13
to
Nov. 2
Holders of rec. Oct. la
Holders of rec. Oct. la
Holders of rec. Oct.15a
Oct. 22
to
Oct. 31
Holders of reo. Oct. 15
rec.
rec.
Oct. 22
THE CHRONICLE
1910.]
:
Per
Cent.
Name of Company.
Street and Electric Railways (Concluded).
Springfield & Xenia Ry., pref. (quar.)...
Tampa Electric Co. (No. 22)
Toledo Bowl’g Green & Sou. Tr., pf. (qu.)
West PennRys., pref. (quar.) (No. 20)..
IX
4
IX
IX
BfltiikSt
American Exchange National
5
3
5
4
3
10
Bowery (quar.)
Extra
Com Exchange
-
(quar.)
Fidelity
Germania
Extra
...
2X
2
Pacific (quar.)
Trust Companies.
Broadway (quar.)
Hamilton, Brooklyn (quar.)..
Nassau, Brooklyn (quar.)
IX
3
2
When
Books Flosed.
Payable.
Days Inclusive.
Holders of rec.
Holders of rec.
Oct. 21
to
Holders of rec.
Oct. 31
1
Nov.
Oct. 31
Oct. 22
Holders
Oct. 28
Oct. 28
Holders
Oct. 28
Holders
Holders
Oct. 19
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
5
15
1
1
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
1
1
1
1
1
1
1
1
Nov.
Nov.
Nov
1 Oct. 22
to
Oct. 31
1 Holders of rec. Oct.24a
1 Oct. 29
to
Nov. 1,
of
rec.
to
to
of
rec.
to
of
of
rec.
rec.
to
Miscellaneous.
X Nov.
Amalgamated Copper (quar.)
Oct.
1
American Dist. Teleg. of N. J. (quar.)...
2X Nov.
Amer. Light & Traction, com. (quar.)..
Common (payable in common stock).. 2Xstk Nov.
IX Nov.
Preferred (quar.)..!
—
1
Nov.
Amer. Malt Corporation, preferred*.
62c.
Nov.
American Malting, preferred
Nov.
$4
Bergner A Engle Brewing, preferred.
3
Nov.
Bond A Mortgage Guarantee (quar.)
IX Nov.
Butte Elec. & Pow., pref. (quar.) (No. 37)
IX Nov.
Cambria Steel (quar.)
IX Nov.
Canada Cement, pref. (quar.) (No. 3)
1
Oct.
Chicago Pneumatic Tool (quar.)
—
Claflln (H. B.), 1st pref. (quar.)
IX Nov.
Second pref. (quar.)...
IX Nov.
Crrmmnnmenlth-Edison (quar.)
IX Nov.
IX Nov.
Computing Scale (quar j
2
Nov.
Consol. Gas, El. L. & P., Balt., common
Consolidation Coal (quar.)
IX Oct.
IX Oct.
Cuyahoga Telephone, preferred (quar.)..
Distillers’ Sec. Corp. (quar.) (No. 32)..
X Oct
1
Oct.
Distilling Co. of America, pref. (quar.)..
du Pont(E.I.)de Nemours Powd., Df.(qu.)
IX Oct.
Eastern Steamship (quar .)
ix Nov.
10
Dec.
Eastman Kodak, common (extra)
3
Nov.
Edison Elec. Ill., Boston (quar.) (No. 86)
Preferred (quar.) (No. 22)
IX Nov.
Electrical Securities Corp., preferred
2X Nov.
Federal Sugar Refining, pref. (quar.)
IX Oct.
General Chemical, common (quar.).
IX Dec.
30c.
Oct.
Goldfield Consolidated Mines (quar.)
.
..—
20c.
Oct.
2X Nov.
Manufacturing, common (quar.).
IX Nov.
Guanajuato Pow. & Elec.,pf.(qu.) (No. 9)
Homestake Mining (monthly) (No. 431). 50 cts. Oct.
1
Nov.
Intercontinental Rubber, com. (No. 1)..
1
Dec.
International Nickel, common (quar.)..
Common (extra)
X Dec.
Preferred (quar.)
IX Nov.
—
4
Nov.
Internat. Smokeless Pow. & Chem., pref.
Int. Steam Pump, pref. (quar.) (No.46).
IX Nov.
Nov.
Kansas City Stock Yards (quar.)
IX
1
Nov.
Massachusetts Gas Cos., common (quar.)
Mexican Light & Power, Ltd., pref
3X Nov.
IX Dec.
Michigan State Telephone, com. (quar.).
Preferred (quar.)
IX Nov.
Preferred (quar.)..
IX Feb.
IX Nov.
Minneapolis Gen. Elec., com. (qu.) (No. 13)
Montreal Light, H. A Pow. (qu.) (No. 38)
IX Nov.
Nanonal Lead, pref. (quar.) {No. 76)
IX Dec.
2
Nov.
New Central Coal
New York Air Brake (quar.)..
IX Oct.
North American Co. (quar.)..
IX Jan.
Pacific Coast Co., common (quar.)
IX Nov.
1
Nov.
Common (extra)
First preferred (quar.)
IX Nov.
Second preferred (quar.)
IX Nov.
1
Nov.
Second preferred (extra)
IX Nov.
Pacific Power A Light, pref. (qu.) (No. 1)
IX Nov.
Peoples Gas Light A Coke (quar.)
IX Oct.
Pittsburgh Coal, pref. (quar.)
Oct.
IX
Pope Manufacturing, pref. (quar.)
Portland Gas & Coke, pref. (qu.) (No. 3).
IX Nov.
Nov.
3
Procter A Gamble, common (quar.)
2
Nov.
Pullman Company (quar.) (No. 175)
Extra
Gorham
*
Quaker Oats, preferred (quar.)
Sears, Roebuck A Co., com. (quar.)
Siegel Stores Corp., pref. (quar.)
Sierra Pacific Elec. Co., pf. (qu.) (No. 5).
Silversmiths Company (quar.)
Standard Milling, pref. (No. 15)
Trenton Potteries, pref. (quar.) (No. 43)..
United Cigar Mfrs., common (quar.)
United Dry Goods Cos., com. (quar.)
United Electric Securities, preferred
United Fruit, extra dividend
V. S. Bobbin & Shuttle, com. (quar.)
Preferred (quar.)
United States Express (No. 154)
U. S. Motor, pref. (quar.) (No. 3)
U. S. Realty & Improvement (quar.)
U. S. Rubber, 1st pref. (quar.)
Second preferred (quar.).
—
Warwick Iron & Steel
..
Washington (D. C.) Gas Light
Western Electric (quar.)
White (J. G.)& Co., Inc., pref. (quar.)..
Worthington (H. R.), Inc., preferred
a
Transfer
books not closed,
1U
IX
IX
IX
IX
2
1
IX
2
#3.50
10
1
IX
3
IX
IX
•
ov.
Nov.
Nov.
Nov.
Nov.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
2
Oct.
IX Oct.
4
Nov.
$1.20 Nov.
2
Nov.
IX Nov.
3X Nov.
28
29
1
1
1
2
1
1
15
1
15
16
25
1
1
1
1
1
31
31
31
29
25
1
1
1
1
1
31
1
31
31
10
1
25
1
1
1
1
15
1
1
1
1
1
1
1
1
15
15
Holders
Oct. 20
Oct. 14
Oct. 14
Oct. 14
Oct. 21
Oct. 21
Oct. 23
Holders
Holders
Holders
Nov.
1
Oct. 16
Holders
Holders
of
rec.
to
to
to
to
to
to
to
of rec.
of rec.
of rec.
to
to
of rec.
of rec.
20
31
31
22
31
21
21
31
Oct. 29
Oct. 28
Oct. 31
Oct. 31
Oct. 31
Nov. 10
Nov. 10
Nov. 1
Nov. 5a
Oct. 15a
Oct.31a
Nov. 10
Oct. 25
Oct.24a
Oct.24a
21
to
Oct. 31
Sept. 25
to
Oct.
Oct.
3
Occ. 25
to
Oct. 31
Holders of rec. Oct. 15a
Sept. 29
Sept. 29
to
to
Oct. 19
Oct. 19
Oct. 16
to
Oct. 25
Holders of rec. Oct.20a
Holders of rec. Oct.31a
Holders of rec. Oct. 15
Oct. 21
to
Oct. 31
Holders of rec. Oct.29a
Holders of rec. Oct.29a
Holders of rec. Nov. 19
Holders of rec. Sept. 30a
Holders of rec. Sept. 30a
Holders of rec. Nov. 8a
Oct 31
Oct. 21
to
Oct. 25
Oct. 21
to
Holders of rec. Oct. 15
to
Dec.
1
Nov. 12
Nov. 12
to
Dec.
1
Oct. 14
to
Nov. 1
Holders of rec. Nov. 5a
to
Nov. 1
Oct. 21
Holders of rec. Oct.15a
Holders of rec. Oct. 15a
Holders of rec. Oct. 15
Nov. 16
to
Dec.
1
Oct. 16
to
Nov.
1
Jan. 15
to
Feb.
1
Holders of rec. Oct.24a
Holders of, rec. Oct.31a
Nov. 19
to
Nov. 22
1 Oct. 28
to
Nov.
1
28 Holders of rec. Oct. 6a
2 Holders of rec. Dec. 15a
1 Oct. |23
to
Nov. 1
1 Oct. 23
to
Nov. 1
1 Oct. 23
to
Nov. 1
1 Oct. 23
to
Nov. 1
1 Oct. 23
to
Nov. 1
1 Oct. 25
to
Oct. 31
25 Holders of rec. Nov. 3a
25 Holders of rec. Oct. 15a
31 Holders of rec. Oct.21a
1 Oct. 23
to
Oct. 31
15 Holders of rec. Oct.3la
15 Holders of rec. Oct. 31
3*
loluers of rec. Nov. \u
15 Holders of rec. Oct. 31
1 Holders of rec. Oct. 15a
1 Holders of rec. Oct.2la
15 Holders of rec. Nov. 10
to
Oct. 31
31 Oct. 26
25 Holders of rec. Oct.20a
1 Holders of rec. Oct. 25a
1 Holders of rec. Oct.25a
1 Holders of rec. OCt.22a
4 Holders of rec. Oct. 24
1 Oct. 21
to
Nov. 1
1 Oct. 21
to
Nov. 1
Nov. 15
Id to
15 Nov.
10 Holders of rec. Oct. 31
1 Holders of rec. Oct.20a
31 Holders of rec. Oct. 15a
31 Holders of rec. Oct. 15a
to
Nov. 15
15 Nov.
1
1 Oct. 16
to
Oct. 31
1 Oct. 26
to
Nov. 1
1 Holders of rec. Oct.30a
1 Oct. 21
to
Nov. 1
Stocks.
Stocks.
7 Corn Exchange Bank
340 Southern Ry. & Light Co., La.$5,000
10 Astor Trust Co
325
Bonds.
1 Metropolitan Audit Co., pref.. 62 X
12 X Commonwealth Trust Co...125
#100,000 Beaumont Traction!
50 Chauncey Realty Co., pref..#18 lot
Co., Tex., lsts, Oct. 1909|
100 Internat. Elevating Co_#40 per share
coupons attached
— |
6,000 Beaumont Traction Co..|
1 Membership Consol. Stock Ex¬
#116
100
Northern Bank of N. Y.
Central Pk. N. & E. R. RR. Co. 18H
Mt. Vernon National Bank...Ill
German-Amer. Insurance Co..540
Wmsburgh City Fire Ins. Co..400
Realty Associates
118
Market & Fult. Nat. Bank...251
National Park Bank
348
Trust Co. of America
330
Peach Botton Slate Mfg. Co.l
of York, Pa., pref
.375 Peach Bottom Slate Mfg. Co.|
}-#45
Pullman Automatic Ventilator |
Mfg. Co., pref..
com
160
hM
100 American Silk
i
50 American Silk
Co., pref
Co., com
J
#266,000 Southern Lt. &
Co.. La., lsts, Oct.
31IX
Trac.j
19091
attached
#60,000 Jennings Elec. Lt. &)$25,000
Pow. Co., Ltd., La., lsts,
coupons
Jan. 1910 coupons attached.
300 Jennings Elec. Lt. & Pow.
attached
For definitions and rules under which the various items
made up, see “Chronicle,” V. 85, p. 836.
We omit two ciphers
Banks.
00s omitted.
Capital.
Surplus.
lot
#35.000 Pennsylvania Knitting
Mills Cd. of Reading 1st 5s, *52.25 to 30
#2,000 Dot. Tol. & Iron. Ry. Co.
cons. 4^8, 1980
12
(00) in all cases.
Loans.
Average.
S
Bank of N. Y._
Manhattan Co.
Merchants’
Mech. & Metals
America
Phenlx
City
Chemical
Merchants’ Ex.
Gallatin.
Butch. & Drov.
Greenwich
Am. Exchange
Commerce
Mercantile
Pacific
Chatham
Peoples'
Hanover
Citizen’s Cent..
Nassau
Market & Fult’n
Metropolitan
Corn Exchange.
Imp. & Traders'
..
Park
East River
Fourth
Second
First
Irving Exch...
Bowery
N. Y. County.
German-Amer
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
.
.
Metropolis
West Side
Seaboard
Liberty
N. Y. Prod. Ex.
State
14th Street
Coal & Iron
Union Exch...
...
$
Specie,
Average.
Legals
Average.
$
S
#
2,000,0
3,520,3
20,046,0
4.184.5
2,050,0
33,550,O!
2,000,0
1.789.6
19,740,0'
6,000,0
7,988,0
51,026,5;
1,500,0
5.874.2
25.164.7
1,000,0
724.9
7,523,0]
25,000,0 31,519,7 170.333.2
3,000,0
fr.494,7
28,804,0;
600,0
582,0
6,905,01
1,000,0
8,368,6!
2.533.2
158,0
300,0
2.783.7
832.9
7,567,0
500,0
5,000,0
4.439.8
33,842,4
25,000,0 16.497.4 143,374,6
3,000,0
2.726.2
15,044,8
913.1
3.625.7
500,0
7.987.2
1,059,7
450,0
200,0
470.3
2,086,7
3,000,0 11.910.1
65.696.2
2,550,0
1.746.7
21,448,0
538.2
500,0
7,178,0
1,000,0
1.720.7
8,422,6
2,000,0
12.457.3
1.478.9
3,000,0
5.254.1
43.003,0
7.545.9
25,691,0
1,500,0
5,000,0 12.524.1
81,023,0
250,0
108.5
1.433.9
5,000,0
5.624.9
27,522,0
1,000,0
2,080,9
12,884,0
10,000,0 20,589,9 100,554,9
2,000,0
1,655,0
22,488,1
250,0
815.9
3,453,0
1.657.4
500,0
7.766.4
689.5
750,0
4.103.9
5,000,0
7.706.8
74.981.8
13,061,2
100,0
2.109.4
200,0
895.2
3.950.5
200,0
1,016,6
4.628.5
1.542.5
17,015,3
1,000,0
1,197,7
8,079,6
1,000,0
3.340.5
250,0
499.9
11,134,7
1,000,0
2,078,2
200,0
1,019,2
4,280,0
20,608,0
1.960.2
1,000,0
16,464,6
1,000,0
2.771.2
8.265.3
1,000,0
757.1
782.2
14,967,0
1,000,0
5.968.5
320.4
1,000,0
392,1
6,141,0
1,000,0
8,280,1
1,000,0
952.4
3,618,0
986,0
7,884,0 1,605,0
4,135,0 1,004,0
10.690.5 1,150,0
4.475.3 1,847,2
1,429,0
292,0
33.781.1 4,760,0
5.152.1 2,098,5
157,0
1.792.2
1,074,6
524.1
462.5
85,8
1,835,0
206,0
5.844.7 2,202,8
24,610,3 6,807,9
1.875.5 1,128,8
499.2
251,2
1,018,5 1.105.1
454,0
138.8
12.487.2 6,449,0
5.115.4
233.2
944,9 1,051,9
1.441.7
920.9
274.6
2.964.3
4,726,0
8,251,0
4,475,0 2,109,0
20,285,0 1,241,0
131.2
254,0
4,310,0 2,300,0
188,0
2,919,0
20,402,9 1,903,0
5.216.7 1.392.1
846,0
54,0
1.271.6
635.7
233.5
848.7
14.848.5 5,101,5
2,587,2 1,192,0
513.7
490.5
506.8
869.7
3.700.1 1,055,2
238,4
1.885.5
337.9
617.6
1.184.1 1,508,4
1,001,0
226,0
4,400,0 1,647,0
857.3
4.182.8
245.6
2.273.7
318,0
4,460,0
1,039,2
514,8
858,0
684,0
1,050,3 1,000,0
Deposits.
Average.
Re¬
s've.
#
X
17,818 ,0:25.8
38,100 ,0 24.9
20,041 .0 25.6
47,977 ,0 24.6
25,130 ,1125.1
6,571 ,0 26.8
153,600 ,9 25.1
26,905 ,0 27.1
7,304 ,3 26.6
6,412 ,7j24.9
2,203 ,3 24.8
8,426 ,0 24.2
31,862 ,5 25.3
120,544 ,0 26.1
11,510 ,8 26.1
3,013 ,5 24.8
8,336 ,8 25.4
2,242 ,5 26.4
73,439 ,1 25 8
20,623 ,2.26 1
8,042 ,5 24.8
8,373 ,1 28.2
12,895 ,7 25.1
50,466, 0 25.7
23,746, 0 27.7
84,503, 0 25.4
1,413, 8 27.2
26,036, 0 25.3
12,445, 0 25.0
87,681, 6 25.4
24.111, 1 27.4
3,617, 0 24.8
7,715 2 25.2
4,015 2 26.9
80,258 ,8 24.8
14,732 7 25.6
4,006 8 25.0
5,301 ,1 25.9
18,726 ,7 25.3
8,102 ,1 26.2
3,539 ,8 27.0
10,888 8 24.7
4,770 0 25.7
23,680 0 25.5
17,320 9 29.0
9,952 8 25.3
18,490 0 25.8
6,254 5 24.8
6,208 0 24.8
7,986 ,9 25.6
Totals, Average 133,350,0 194,250.3 1254,065,0 247,865,1 66,387,9 1227,342,8 25.6
67,171,0 1218,358,5 25,9
Actual figures Oct. 15..
j
1243,825,4,248,588,9
On the basis of averages, circulation amounted to #48,117,800 and United States
deposits (tncluded in deposits) to #1,625,200; actual figures Oct. 15, circulation,
#48,159,100; United States deposits, #1,624,700.
The State
Banking Department also
furnishes weekly
companies under its
now
returns of the State banks and trust
These returns cover all the institutions of this class
State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
;
charge.
in the whole
For definitions and rules under which the various items are
made up, see “Chronicle,” V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
/
Week ended Oct.
Trust Cos.
State Banks
State Banks
Trust Cos.
outside of
ifl
outside of
in
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
15..
$
Capital as of Aug. 31
Surplus as of Aug. 31
Loans and investments.
.
Change fromdast week
$
65,656,000
38,315,700
172,728,334
10,891,650
9,817,991
299,695,900 1,036,815,800
—2,042,300 + 12,699,800
95,105,800
+ 185.300
138,482,400
+418,400
346,001,500 1,087,327,200
—3,361 ,700
+3,941,400
100,724,100
+ 161,300
144,559.000
95,294,500
—1,691,200
136,317,700
+961,200
20.849,500
—167,600
20.389,600
—49,600
28.1%
28.3%
16.0%
16.1%
49,338,900
—1,126,600
116,585,100
+750,200
Legal-tenders & bk .-notes
Change from last week.
24.495,700
+667,900
13,228,700
+281,000
Reserve on deposits
Change from last week
P.C.
reserve
_
to deposits..
Percentage last week..
$
9,075,000
$
8,998,000
25,175,000
Specie
Change from last week.
+ 123,100
14.7%
14.8%
21.4
21.6%
+ Increase over last week.
— Decrease from last week.
BFS
Note.—“Surplus” includes all undivided profits. “Reserve on deposits” in¬
cludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents.
Trust companies in New York State are requtred by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below.
The percentage of reserve required is computed on
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of depostis secured by bonds of the State
of New York.
The State banks are likewise required to keep a reserve varying
according to location, the reserve being computed on the whole amount of deposits
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by bonds
Reserve Required for Trust
and State Banks.
Location—
Manhattan Borough
i
3,750 Vicksburg Ry. & Lt. Co., j
#500 Apawamis Club deb. 5s
1918
*
#407
the actual figures
are
of the State of New York.
Co., Ltd., #50 each
#32,000 Vicksburg Ry. & Lt.
Co., Miss., lsts, Jan. 19101
coupons
In the case of the totals,
at the end of the week are also given.
daily results.
Change from last week.
Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
change of N. Y
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending Oct. 15.
The figures for the separate banks are the averages of the
Deposits
d Correction.
Auction
14
•369
40
5
3
10
5
4
2
•375
1075
f
Companies
—Trust Cos.—
—State Banks—
Total
Of
Of
Total
which
Reserve
which Reserve
R
ed in Cash.Required. in Cash.
....15 4
Brooklyn Borough<without branches in Manhat .) .15 70
Other Boroughs (without branches In Manhattan) .15 7Brooklyn Borough, with branches in Manhattan. .15%
Other Boroughs with branches in
Elsewhere in State..—
Manhattan.... 15%
—j.
10%
15 4
10 %
10 7
15%
> 15%
5%
»25%
20 %
15 %
•
20%
' 15%
v 15%
15%
10%
7H%
20%
15%
1076
THE CHRONICLE
The Banking Department also undertakes to
present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the
Clearing
House.
These figures are shown in the table below, as are
also the results
(both actual and average) for the Clearingaddition, we have combined each corre¬
sponding item in the two statements, thus affording an
aggregate for the whole of the banks and trust companies in
House banks.
In
the Greater New York.
Clear .-House
Banks.
Week ended Oct. 15.
AciualFigures
S
$
Loans.
132,350,000
74,631,000
206,981,000
193,297,900
193,297,900
180,661,300
373,959,200
1,243,825,400
1,254,065,000
—18,132,000
1,128,066,500 2,382,131,500
+ 12,382,000
Boston.
$
Sept.24..
$
1..
Oct. 8..
Oct. 15..
Phila.
55,465,0 254,583.0
55,465,0 255,799,0
55,465,0 257,355,0
55,465,0 257,856,0
1..
Oct.
8..
Oct. 15..
248,588,900
—1,050,800
247,865,100
—4,030,600
123,286,800
+983,700
371,151,900
—3,046,900
Legal-tenders
Change from last week
67,171,000
+300,700
66,387,900
+31,300
521,976,300
+384,100
88,364,200
+415,400
Aggr'te money holdings
Change from last week
315,759,900
—750,100
314,253,000
—3,999,300
<5145,263,100
+ 1,367,800
459,516,100
—2,631,500
25,419,300
—1,537,000
25,419,300
—1,537,000
170,682,400
—169,200
484,935,400
—4,168,500
Change from last week
315,759,900
—750,100
Percentage to deposits
requiring reserve
Percentage last week..
Surplus
25.95%
25.57%
11,170,275
reserve.
314,253,000
—3,999,300
.
25.63%
25.50%
22,184,0
74,903,0
72,795,0
70,334,0
71,582,0
1
7,417,300
•
..
.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
For week.
1910.
Dry Goods
Loans and
1..
8..
15..
General Merchandise
Deposits.
Specie.
5
416.194.1
421,847,4
421,021,3
412.681.1
401.048,5
397,232,0
392.538.2
382.271.2
374.198.8
371.151.9
Money Entire Res.
Holdings. on Deposit.
Legals.
$
5
508.850.8
92.656.7
90.699.2
91.463.2
89,655,0
88.124.7
88,597,9
88,911,4
89.226.2
87.948.8
512.546.6
512.484.6
502.336.1
489.173.2
485.829.9
481.449.6
471,497,4
462.147.6
459,516,1
88.364.2
535.467.8
539.637.8
537.996.1
528.336.2
516.456.2
513.289.9
508.147.8
497.810.3
489.103.9
484.935.4
Reports of Clearing Non-Member Banks.—The following
is the statement of condition of the
clearing non-member
banks for the week ending October
15, based on average
daily results:
We omit two ciphers (00) in all these figures.
.
Loans,
Banks.
Total
Since January 1.
Dry Goods
General Merchandise
Capi¬
Sur¬
tal.
plus.
Century
Colonial
...
...
Columb a..
Fidelity
...
Jefferson.
Mt. Morris.
Mutual....
__
Plaza
23d Ward..
Yorkville
New Nethld
Batt.Pk.Nat
Aetna Nat.
Borough of
..
$
300,0
200,0
500,0
250,0
200,0
100,0
200,0
100,0
200,0
200,0
300,0
Brooklyn.
Broadway
200,0
252,0
Mechanics'
1,000,0
Nassau Nat.
750,0
Nat. City..
300,0
North Side.
200,0
First Nat..
300,0
Jersey City.
First Nat..
400,0
Hud.Co.Nat
250,0
Third Nat..
200,0
Hoboken.
First Nat..
220,0
Second Nat.
125,0
.
Mfrs.’
$
270,6
160,2
362,5
751,7
175,5
521,3
313,8
371,3
453,8
106,5
451,8
265,5
156,8
317,7
100,0
250,0
400,0
Nat.
Tot. Oct. 15 7,497,0
Tot. Oct. 8 7,497,0
Tot. Oct. 1 8,497,0
Disc’ts
and
Invest¬
ments.
Legal
Tender
and
Specie.
Bank
Notes.
$3,157,450
11,631,380
$16,737,897j $17,749,346
$11,296,082
$14,788,830
$96,481,764 $149,386,866
395,305,412 538,277,910
$726,815,134 $681,199,449 $491,787,176 $687,664,776
The following is a statement of the
exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 15 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
1909.
$13,722,554
510,987,554
Previously reported
Total 41 weeks
$
1,305,3
1,350,6
5,563,0
6,136,0
1,094,9
3,119,5
2,603,0
3,486,3
3,914,0
1,894,4
4,216,0
2,277,0
1,511,1
2,079,9
$
134,0
24,8
812,3
589,0
90,2
184,3
490,3
37,4
321,0
156,6
45,9
262,0
205,1
461,3
$
48,S
165,7
545,4
543,0
95,3
296,9
32,3
554,9
387,0
52,8
750,6
87,0
46,7
42,6
1908.
$11,902,786
466,604,034
1907.
$12,979,102
493,129,295
$12,234,685
494,897 872
$524,710,108 $478,506,820 $506,108,397 $507,132,557
The following table shows the
exports and imports of
specie at the port of New York for the week ending Oct. 15
and since Jan. 1 1910, and for the
corresponding periods in
1909 and 1908:
EXPORTS
AND
IMPORTS
OF
SPECIE
AT
NEW
YORK.
Exports.
Gold.
Week.
Imports.
SinceJan. 1.
Week.
$32,150,000
$9,650
SinceJan. 1.
$13,469,736
3,466,700
4,455
$1,685
Mexico
South America
314
3,290,917
580
1,803
All other countries
Total 1910
Total 1909
Total 1908
$1,685
110,000
9,368,766
674
41,900
111,711
44,856,038
77,104,692
47,647,925
459,333
236,183
1,900,757
1,146,581
$124,418 $20,679,604
193,515
7,284,914
128,194 14,518,534
Silver.
Great Britain
France
Germany
1.
West Indies
Mexico
$472,315 $31,726,101
38,700
1,837,300
558,008
68,537
South America
All other countries
200
Total 1910
Total 1909
Total 1908
$13,344
1,555
$751
'77,411
13,125
69,926
1,336,325
1,125,723
1,181.132
$107,794
122,747
175,126
$3,741,130
3,957,167
3,075,008
26
14,149
15,457
47,825
6,505
$511,215 $34,244,276
560,800
36,299,411
785,378
33,818,424
Clear¬
Other
ing
Net
Banks, Deposits.
Agent.
imports for the week in 1910, $320
American gold coin and $__
were
American silver coin.
Of
the exports during the same time, $1,685 were American
gold coin and $200 were American silver coin.
__
dkc.
$
162,7
39,7
659,3
745,0
137,3
166,1
372,4
437,3
1,196,0
181,7
227,0
279,0
95,7
63,2
$
15,9
182,8
499,7
79,0
338,6
88,5
5,3
259,7
5,0
33,6
$
1,296,5
1,290,1
7.401,5
6,973,0
1,151,1
3,415,1
3,369,6
4,008,5
5,240,0
2,087,9
5,332,3
2,495,0
1,248,8
2,057,3
513,3 3.269,3
831,9 5,591,8
815,4 11,921,4
1,010,4 6,896,0
601,8 3,827,0
139,0 2,098,5
611,0 3,459,0
29,7
524,2
491,8
161,2
389,3 1,296,5
301,0
603,0
97,0
562,0
130,8
117,3
361,0
78,0
314,0
796,4
1,253,4
1,070,0
543,0
323,0
331,0
1,251,8
751,9
394,5
5,227,2
3,091,6
2,105,1
308,2
149,7
41,1
439,4
52,1
131,9
2,183,1
316,4
395,6
144,0
114,6
6,771,2
2,743,4
15,2
2,269,9
623,3
245,9
3,138,3
2,769,6
145,9
106,4
27,1
88,5
163,5
74,3
184,0
188,9
2,931,7
3,013,9
_
261,1 3,813,1
140,0 6,044,1
396,6 15,127,8
7,102,0
160,0 4,789,0
110,0 2,526,6
38,0 3,131,0
12,469,2 93,945,8 6,366,1 7,730,2 12,526,11 3,260,5
107630,4
12,469,2 94,894,7 6,317,9 7,471,6 15,528,6 3,365,1 111327,1
13,421,6 102358,2 7,313,8 8,481,0 14,173,6 4,047,4 117131,3
Philadelphia.
1907.
.
Deposit with
Boston and Philadelphia Banks.—Below
is
the weekly totals of the
and
135,503,9
160,501,8
139,370,6
1908.
$124,672,251 $133,158,604
602.142.883 548,040,845
Total 41 weeks
Of the above
N. Y. City
Boroughs of
Man.&Brx.
Wash. Hgts
136,223,7
$2,432,697
8,863,385
13,892,041
Germany
Tot.
2.331.975.4 2.316.350.0
2.339.911.8 2,326,315,7
2.346.781.2 2.331.878.3
2.348.900.4 2.326.474.6
2.355.593.2 2.320.771.3
2.367.842.8 2.328.750.6
2.375.411.8 2,329,379,2
2.388.453.3 2,330,077,9
2.387.881.5 2.316.630.7
2.382.131.5 2,306,865,9
■
16,447,0
16,439,0
16,384,0
16,356,0
142,593,5
139,329.0
169,377,5
165,194,1
7,991,0
8,024,0
8,029,0
$2,835,569
14,914,177
West Indies.
Oct.
Oct.
Oct.
305,459,0
305,050,0
304,626,0
308,493,0
1909.
$2,845,856'
Great Britain
France
We omit two ciphers in dU these figures.
Sept. 3Sept. 10..
Sept. 17..
Sept. 24..
$
7,947,0
FOREIGN IMPORTS AT NEW YORK.
1910.
The averages of the New York Clearing-House banks
combined with those for the State banks and trust
companies
in Greater New York outside of the
Clearing-House compare
as follows for a series of weeks
past:
Aug. 13..
Aug. 20..
Augi. 27-
$
247,117,0
250,395,0
250,143.0
258,236,0
Imports and Exports for the Week.—The following are
ending Oct. 15; also
beginning of the first week in January.
For the Week
+ Increase over last week. —Decrease from last week.
o These are the deposits after
eliminating the item “Due from reserve depositories
and other banks and trust companies in New York
City;’' with this item included,
deposits amounted to 51,202,091,500, an Increase of $2,535,600 over last week. In
the case of the Clearing-House banks, the deposits are
“net” both for the average
and the actual figures,
& Includes bank notes, c Of this amount State banks held
515,449,300 and trust companies 5129,813,800.
Investments.
5,696,0
4,554,0
4,815,0
Clearings.
the imports at New York for the week
totals since the
17.6%
17.9%
1
Week
Ended.
$
4,967,0
22,688.0
Circulotion.
1
on deposit with
other bks. & trust cos.
reserve
S
23.541,0
22,870,0
a
a
Including Government deposits and the Item “due to other banks.” At Boston
Government deposits amounted to $3,051,000 on October 15,
against $3,049,000
on October
Money
Total
Legals. Deposits,
$
40,200,0 204,394,0
40.200.0 206,192,0
40,200,0 206,477,0
40,200,0 207,466,0
Oct.
| —5,750,000
I
Change from last week
Specie.
Surplus.
1,227,342,800 ol,079,523,100 2,306,865,900
—19,730,200 —21,885,200
+ 12,120,400
—9,764,800
Specie
and
8.
S
132,350,000
j 1,218,358,500
—19,226,600
Deposits
$
*
Capital
Banks.
Oct.
Clear.-House State Banks & 1 Total of all
Banks.
Trust Cos. not Banksdk Trust
in C.-H. Aver. Cos. Average.
Average.
LXXXX1
We omit two ciphers (00) in all these figures.
Sept .24..
NEW YORK CITY BANKS AND TRUST COMPANIES.
fVOb
gauhtug anti financial.
INVESTMENT SECURITIES
Our eight-page circular No.687 describee several Issues of
sound
Investment bonds yielding about 4 X to 5 H%.
Spencer Trask & Co,
43 EXCHANGE PLACE. NEW YORK
Brandi offices: Chicago, Ill., Boston. Mass., Albany, N. Y.
WHITE, WELD & CO.
Members New York Stock Exchange
STREET,
THE ROOKERY,
NEW YORK
CHICAGO
5 NASSAU
BANKING and EXCHANGE of every description In connection with
EXPORTS & IMPORTS
International
Banking Corporation
60 Wall St.. New York.
CAPITAL & SURPLUS. 16.800.000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
a
summary of
of Boston
Clearing-House banks
Organized under the Laws of N. Y. State.
60 Wall St,0 New York
Interest paid on Term Deposits.
THOMAS H. HUBBARD. President.
Aooounta Invited.
Oct. 22 1910. |
THE CHRONICLE
jBankgrs"
The Money
an
ant event of the week has been an advance of the Bank of
England's official discount rate from 4 to 5%. This action
on the part of the Governors of the Bank shows that money
market conditions, not only at London but at all the principal
financial centres, are undergoing a change, and that for a
time at least these conditions will probably be more care¬
fully studied than of late by all who are interested in the
general financial situation on both sides of the Atlantic.
The change of rate had no apparent effect upon the security
markets here and business at the Stock Exchange has con¬
tinued active, while prices have further advanced.
The
local money market has, however, shown no tendency to
harden, although foreign exchange is higher.
The Government report on international trade for the
month of September was very much more satisfactory than
the reports for previous months.
The imports are still un¬
usually large, however, and the balance for the calendar year
will evidently te below the average, although an agreement
reached this week wherein the foreign banking houses con¬
sent to accept the present form of bills of lading until the
end of the year will doubtless facilitate exports of cotton
during that period.
Interest in State politics increases as election day ap¬
proaches, chiefly owing to local issues, and general business
is little, if any, affected thereby.
It would seem, therefore,
from the foregoing that the activity and strength noted in
the security markets are due chiefly to the operations of
traders on the floor of the Exchange or to buying by special
interests in anticipation of the election, and not to an in¬
creasing public interest.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2% to 3%%.
To-day’s rates on call were 3@3%%.
Commercial paper quoted at 5%@5%% for 60 to 90-day
endorsements, 5% @6% for prime 4 to 6 months’ single
names and 634% for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £1,813,398 and the percentage
of reserve to liabilities was 46.49, against 46.94 last week.
The rate of discount was advanced on Oct. 20 from 4%,
as fixed Sept. 29, to 5%.
The Bank of France shows a
decrease of 1,609,000 francs gold and an increase of 3,500,000
francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1909.
1908.
Differences
Averages for
Oct. 15.
from
previous week.
week ending
Oct. 16.
Averages for
week ending
S
%
132,350,000
193,297,900
Loans and discounts... 1,254,065,000
Circulation
48,117,800
Net deposits
1,227.342,800
U. 8. dep. (lnd. above)
1,625,200
Specie
247,865,100
Legal tenders
66,387,900
S
127,350,000
177,371,800
Capital
Surplus
Reserve held
25% of deposits
Dec. 18,132,000 1,243,444,000
Inc.
7,700
51,938,100
Dec. 21,885,200 1,245,824,700
Inc.
1,652,100
9,300
Dec. 4,030,600
251,318,500
Inc.
31,300
70,428,800
Oct. 17.
1,338,433,300
9,233,300
304,992,500
80,640,600
321,747,300
311,456,175
385.633.100
354,161,975
7,417,300 Inc.
7,823,600 Inc.
1,472,000
1.474,325
10,291,125
10,704,150
31,471,125
33,779,450
Note.—The Clearing House now issues a statement weekly showing the actual
condition ol the banks on Saturday morning as well as the above averages.
These
figures, together with the returns of separate banks, also the summary issued by the
State Banking Department, giving the condition of State banks and trust companies
not reporting to the Clearing House, appear on the second page preceding.
Foreign Exchange.—The settlement of the dispute over
handling cotton bills of lading and the advance of 1% in the
Bank of England rate stimulated a very sharp rise in foreign
exchange rates. After touching 4 86% to-day, demand
closed 10
points easier.
To-day’s (Friday’s) nominal rates for sterling exchange
4 8334 for 60-day and 4 87 for sight.
To-day’s actual rates
for sterling exchange were 4 8260@4 8280 for 60 days,
4 8665@4 8675 for cheques and 4 8705@4 8715 for cables.
Commercial on banks 4 82 @4 82% and documents for pay¬
ment 4 82 34 @4 83.
Cotton for payment 4 82 34 @4 8234
and grain for payment 4 82 *4 @4 33.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 21%@5 2134 less 1-13 for
long and 5 19% @5 18%
less 3-32 for short.
Germany bankers’ marks were 94 7-16@
9434 for long and 95 1-16@95% less 1-32 for short. Am¬
sterdam bankers’ guilders were 40 18@40 20 for short.
Exchange at Paris on London, 25fr. 2934c.; week’s range
25fr. 2934c. high and 25fr. 24 %c. low.
Exchange at Berlin on London 20m. 48%pf.; week’s range
20m. 48%pf. high and 20m. 45%pf. low.
The range of foreign exchange for the week follows:
Sterling Actual—
High for the week
High for the week
Low for the week
Sixty Days.
4 83 ft
4 82
£
5 21ft
5 21 ft less 1-32
Germany Bankers' Marks—
High for the week
Cheques.
4 8085
4 8605
Cables.
4 87 ft
4 8635
6 18ft less 1-16
5 19 ft less 1-16
5 18ft
5 18 ft less 3-32
94 ft
Low for the week
94 ft
Amsterdam Bankers’ Guilders—
95 ft less 1-32 95 3-16 less 1-32
95
95 1-16
High for the week..
40 06
Low for the week..
40
40 26
40 18
40 30
40 22
The following are the rates for domestic exchange a t
undermentioned cities at the close of the week: Chicago,
*
2s,
2s,
3s,
3s,
4s,
4s,
2s,
2s,
*
1930
registered
1930
..coupon
1908-18.
registered
1908-18
coupon
1925
registered
1925
coupon
1936.Panama Canal regls
1938_Panama Canal regls
the
5c.
Interest
Periods
Oct.
15
Q—Jan
Q—Jan
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Nov
♦lOOft
*100ft
♦101ft
*101ft
♦114ft
i
1
Oct.
Oct.
18
17
♦lOOft
♦lOOft
♦lOlft
*101 ft
*114ft
Oct.
19
*100ft
*100ft
♦101ft
♦101ft
*100ft
*100ft
♦101ft
♦101ft
*115
115ft
*115
*115
♦115ft *115ft
*100ft ,*100ft *100ft *100ft
*100ft *100ft ♦100ft *100ft
Oct.
20
Oct.
21
♦100ft
*100ft
♦101ft
♦101ft
♦lOOft
*100ft
*101ft
*101ft
*115
*115
♦115ft *115ft
*iooft nooft
♦lOOft ♦lOOft
This Is the price bid at the morning board; no sale was made.
State and Railroad Bonds.—Sales of State bonds at the
Board are limited to $20,000 New York Canal 4s at 104%.
The market for railway and industrial bonds has continued
active, the transactions ranging from $2,500,000 to $3,500,daily. These were generally well distributed. Third
Ave. 4s trust certificates have, however, been conspicuous for
activity and have recovered a large part of the decline noted
last week.
Wabash-Pittsburgh Terminal first trust receipts
have also been in request at advancing prices.
They close
nearly 2 points higher than last week. General Electric
conv. deb. 5s are up 1% points on limited transactions.
000
Railroad and Miscellaneous Stocks.—The stock market
has
again been active, the total transactions exceeding all
recent records.
Prices continued to advance until Tuesday,
when sales to secure the profits which had accrued during the
upward movement since Oct. 1st caused a temporary reac¬
tion.
Since Tuesday the market has been irregular, and
after some looses to-day closing prices are generally from 1 to
3 points higher than last week.
The range covered has been
wider, running up to 4% points in the case of Smelting &
Refining and to nearly 4 points in Union Pacific, Reading,
St. Paul, New York Central, International Harvester and
Canadian Pacific, the latter making a new high record for
the year.
At the same time Missouri Pacific has declined 2 points
and Baltimore & Ohio, Erie and Great Northern are lower
than last week.
For daily volume of business see page 1085.
The following sales have occurred this week of shares not
our
STOCKS.
Week
detailed list
Sales
ending Oct. 21.
Week.
Am Brake Shoe &
Fdry.
Preferred
Am
Telegraph A Cable..
Batopilas Mining.
Buff Rochester A Plttsb.
Col Fuel A Iron, pref
Comstock Tunnel
Evansville A Terre H...
General Chemical, pref.
Keokuk A Des Moines..
Preferred
North Ohio Trac A Lt__
Ontario Silver Mining.
Peoria A Eastern
.
.
on
the pages which follow:
Range for Week.
Range since Jan. 1.
for
53,309,400
1,416,647,900
3,999,300
5,471,300
Low for the week
Paris Bankers' Francs—
United States Bonds.—Sales of Government bonds at the
Board are limited to $5,000 4s reg. at 11534.
The following
are the daily
closing quotations; for yearly range see third
page following.
represented in
$
126,350,000
163.720.100
314,253,000 Dec.
306,835,700 Dec.
Surplus reserve
Surplus, excl. U. S. dep
$1,000 discount. Boston, 10c. per $1,000 discount,
Francisco, sight, par; telegraphic, 4c. per $1,000 pre¬
mium.
New Orleans, commercial, 75c. @$1 per $1,000 dis¬
count; bank, $1 per $1,000 premium. Savannah, buying,
3-16c. discount; selling, par.
St. Louis, 5c. per $1,000 dis¬
count.
Charleston, buying, par; selling, l-10e. premium.
St. Paul, 25c. per $1,000 premium.
Montreal, 31%@15%c.
per $1,000 discount.
er
Wall Street, Friday Night, OcL 21 1910.
Market and Financial Situation.—An import¬
1910.
Averages for
week ending
1077
.
Rutland, pref.
Sears, Roebuck A Co...
St Jos A Gd Isld, 1st pf
_
Lowest.
100 83 ft
100 127
132 84
400 $2 ft
200 104
100 107
500 21c.
300 61260 102
200
6ft
600 41
Lowest.
Highest.
Highest.
Oct 19 83 ft Oct 19 83ft Oct 90 ft June
Oct 17 127
Oct 17 119
Oct
July 127
Oct 18 84
Oct 18 71
Oct
Sept 88
Oct 17 $2 ft Oct 20
Oct
Oct
Oct.
Oct
Oct
$2
15 104
Oct 17 95
19 107
Oct 19 107
15 21c. Oct. 15 21c.
Sept $3 ft
May 106
Oct 116
Oct 36c.
Jan
Jan
Jan
Jan
18 61ft Oct
19 102 ft Oct
18 55
Sept 61ft Oct
Mch
19 101ft June 107
Jan
Oct 17
6ft Oct 17
4ft July 9
Oct 17 42
Oct
Oct 17 38
Sept 42
180 39
Oct 17 39
Oct
300
3
Oct
2ft Oct 21
400 18
Oct 17 20 ft Oct
705 28 ft Oct 20 37 ft Oct
Oct 15 171ft Oct
700 170
500 45
Oct 18 45
Oct
17
21
35
2
18
28
18
21
18 150
19
45
Feb
39
July 3ft
Sept 28
Feb 37 ft
June 171ft
July 55
Oct
Feb
Jan
Oct
Oct
Jan
Outside Market.—Trading in mining stocks in the outside
security market at the outset this week was again active,
with the strength of the copper group the feature.
Later,
profit-taking checked the upward movement, though the
undertone continued strong.
British Columbia Copper
moved up from 734 to 734 and down to 734Butte Coalition
gained a point to 2034- Chino Copper was especially promi¬
nent, and after a fractional loss to 19% sold up to 22%, a
new high record.
First National Copper was comparatively
active and was traded in down from 3 11-16 to 3 34 and back
to 3 11-16.
Giroux ranged between 7% and 8%, with the
close to-day at 7 15-16.
Greene Cananea rose from 7% to
834 and sank to 734- Inspiration Copper eased off from 10%
to 10, advanced to 1034 and dropped
to 934, the close to-day
being at 9%. Miami gained a point to 2034 and finished to¬
day at 20. Ray Consolidated rose from 2034 to 22%, fell
to 20% and recovered finally to 21%.
La Rose Consoli¬
dated attracted attention, advancing from 4 to 4% and fin¬
ishing to-day at 4 9-16. Nipissing was also prominent for a
rise of over a point to 11 9-16, the close to-day being at
11 5-16.
Among miscellaneous securities, American To¬
bacco sold up 9 points to 423, reacted to 416 and sold up to¬
day to 425. A break in Intercontinental Rubber carried the
price down about 3 points to 25%, but the stock recovered
to 2734, the final figure to-day being 27.
Standard Oil moved
up 8 points to 612, with transactions to-day at 610 and 611.
United Cigar Mfrs. common lost part of its recent advance,
going down from 6734 to 63. In bonds, Western Pacific
5s were traded in down from 9434 to 9434 and back to 94%.
Outside quotations will be found on page 1085.
New York Stock
Exchange—Stock Record, Daily, Weekly and Yearly
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
TWO
Sales of
STOCKS
the
!
Saturday
Monday
1
Oct 15
Oct 17
I
*25
!
*65
\
104% 105*8
35
70
*25
*65
35
70
Tuesday
Wednesday
Thursday
Friday
Oct 18
Oct 19
Oct. 20
Oct. 21
*25
*65
35
70
35
70
*25
*65
*25
*65
35
70
*275
285
*275
82*8
8358
36
36
*___
6512
_
2412 25
49% 495s
12514 127%
;
*149
151
149*8 149*4
*203
*140
*150
*2%
*5%
!
205
150
165
3
*72
f
*99*4 110
59*4 597a
*515
34
76*4
*1214
*25l4
30%
49'8
40
!
j
130*4
59%
*13i2
*94
*132
*
2l5g
5734
19%
36
*75
33*4
*66
*15
*41%
*67%
14712
143%
31*4
53
"§5%
67l2
5734
‘
*135
*70
33
*88%
155
♦147
43
99
i
106
*90
131
*95
*103
!
*99
59
*75
*73
170
575
'
77
75
1701^
135%
22%
69%
19%
36
81
34%
67
20
49
135
‘
5812
140
110
91
155
1487g
44
997g
106
110
115
131%
99
115
66
61
4434
'
72
*5
*12
*612
69
76
169%
*74%
*99
60
*75
*73
160
60%
*76
*73
169
3%
7%
3%
7%
110^
69*4
205
140
165
$140
*150
77%
*99
60*4]
77
93
32
77
75
169*4
84%
45
65%
_
24% 25%
49% 50%
12734 129%
150% 151%
149*4 150*4
*203
*142
♦150
3
*6%
77
110
77
99%
60%
60%
77
75
._
....
'anada Southern......
““"§24 Central of New Jersey...
64.950 Chesapeake & Ohio
200 Chicago & Alton RR_.__
Do pref
6,500 hie Gt Wes; trust ctfs__
Do pref trust ctfs
5,100
87,170 Chicago M'lw & St Paul..
Do
1,225
pref
'
7,065 Chicago & North Western
Do pref
50 Chlo St P Minn 5s Omaha
210
150
165
3
8
Do
1,800 Chlo
200
pref....
Trac ctfs stmpd
un
Do pref ctfs stmpd
„
2,000 Cleve Cin Chic & St L-..
100
Do pref
5,680 Colorado 5s Southern....
Do l:t preferred
Do 2d preferred
4,300 I Delaware 5s Hudson...
100 ■^e>aware Lack & West.
8,415 Denver 5s Rio Grande...
77%
99%
60%
77
75
172
575
35
*75
*73
170
170*4
500
...
67
*66
*18
*41
150
89
36*4
68
58
140
57%
70%
33%
116
*66
33%
133
22
133%
22%
.
59
19%j
19%
35%
19%
33
20
66%
20%
41%
64%
41%,
108
110
115
131% 132%]
98
98%;
*105
35%
*67%
56%
116
68
*106%
90
155
149
43
100
*83
30%
61
19
39
8
30%l
93*4}
31%
60%
19%
40%
48%
49%
71
7178
5%
12
7
69*8
36%
68
57%
140
71
6
12
7%i
591?
68
110
90
155
149
*104
*90
*104
132
*96
*105
*62
42%
30%
150
89
35%
35%
*66
56
*135
68
*70%
33%
118%
67%
133%
98
116
32%
*65%
32%
66%
*18
*41
*65
147
143
20
49
67
*50
150
89
*145
♦88
35
68
35V
56%
*135
89
120
*105
*90
*105
132
98
♦105
121%
110
110
131%
151% 1533s 151*8
89 ^ *86% 89
*87
99
98% 98%, $98%
35%:
33% 34%] 33*8
68 ‘
66% 67*8
66%
63
83
43%
30%
*62
S*
68V
68%
33*8
66%
*18
*41
*64
147
59
2.000
nter boro-Metro poll tan
69,000
Do pref
68,500
3.700 Iowa Central-..
Do pref...
3,100
Illinois Central
77%
33%
66%
4,550
300
600
100
20
49
68
*50
145^
32
60
131% 132%
*145
*88%
35*4
68
56
*135
150
89
36
68
56%
QY2Q
14% J ly 26
41% J’ly 26
15
J'neju
25
J’ly 26
68
Aug 2
J'ly 2o
23
68 Aug 2
KC I* t SCity
5s MSouthern..
tr cfs, pref
ansas
Do
pref
pref
Do pref
14.000 Missouri Pacific
500
Nash Chatt 5b St Louis,
149
4334
10034
149
43% 44%
99% 100%
*88
90
*104
*90
♦105
132% 132
08
98
116
♦105
154%] 154
89
*87
98%
35
68%
43%
30%
71%
119%
26%
62
29%
108
110
115
XS6% Sep 20
27
J’ly 26
67
J’ly _6
41
125
89
114
450
S' t L 5c San Fr, 1st pref..
Do 2d pref
4234
6,370
30% 30%
2.400 St Louis Southwestern...
Do pref
69% 71%
5,000
119*4 121% 142,000 Southern Pacific Co
27
Southern
v tr cfs stmpd15,120
61
62
Do pref
8,760
do
29
11
*7
27
2,800 'I'exas 5c Pacific
11%
6,200 JLhird Avenue (N Y)...
9%
100 Toledo Railways & Light
28%
28%
3,325 Toledo St L 5b Western..
60
Do pref
59*8 59%
2,700
113
*110
113
700 Twin City Rapid Transit
175%' 175 177 514,000
93V
93
Do pref
1,750
93%
32
*29*4 32
200 Unit Rys Inv’t of San Fr
29
11
9
...
Union Pacific
60%
18*4
39%
48%
72%
6
14%
*59
18%
39
47%
$72%
5%
14
8
59
8
59
59%
18%
40
48%
72%
6%
17
9
59
Do
300
pref
8.400
Do pref
29,859
4,900 vVest Maryland Ry.-_.__
Do pref
2,620
3,950 Wheeling 5s Lake Erie..
Do 1st pref..
4,150
Do 2d pref
3.500
2,600 Wisconsin Central
Wabash
J’lv 26
J’ly 26
Feb
.......
Jan
Jan
06% Jan
69 Apr
367gjan
64% Jan
158*8 Jan
172% Jan
182% Jan
3
1
8
10
3
3
3
Jan
225
147
0
Jan
5
25% Jan 11
C278 Jan 12
30 .Jan
3
64% Jan 3
Feb 18
44% Jan 3
71
Jan
4
25*4 Jan 6
62% Jan 3
SO
3
Oct
00*4 Jan
80
Feb
145
Men
1561» Mch
92% Jan
f
J’ly 26
May 4
J’ly 8
Apr 28
Apr 28
139
71
,Jan
8
4
44
....
4
14
3
2
3
i
5
Oct
8
8
3378 Oct 18
128
Mch
9
68% Oct 1*
109% Jan 21
93
J ne lu 6151
50
Aug 2
Jan 19
Mch 14
Mch 11
6
Jan
J’ly 26
Mch 21
Feb
k
Aug 3
Oct 13
J’ly
26
162
108%
91%
145*g
11834
118
Mch 16
Jan 3
Jan 12
Jan
3
138% M^h 0
104% Mch 22
116
Mch
1
172% Feb 18
93% Feb 17
110% Jan 3
22% J’ly 26
57% Jan
54
j'ly 27
92% Apr
73
58 Aug 11
Jan
60
34% Aug 2
Jan
18% J’ly 26
34% Jan
51% J’ly 26
77% Jan
103% J’ly 26 zl38% Jan
18
J’ly 26
33% Jan
43
75
J’ly 26
Jan
22% J’ly 26
30% Jan
fiuj’ne 1
19% Jan
5% J’ly 6
15*4 Jan
19
J’ly 26
&4% Jan
42% J’ly 28
72% Jan
103
J’ly 26 117% Jan
152% J’ly 26 204% Jan
88% J’ly 26 103% Jan
23% J ne30
42% Jan
47
J'ne3u
72% jan
12*8 J'ly 25
27% Jan
61
Jan
28% J’ly 26
40
J’ly 26
54%Mch
67
Aug 15
72% Oct
3
lo
Jan
Apr 28
.....
6
1% Jan
74*8 Jan
73% Mayio
J’ly 26
Mchlo
130% J ’ly 2o
x85
Aug 24
87
J ’ly 26
2d pref
1.120
97%
3534 119,430 Rock Island Company
Do pref
69%
9.500
65
44
26
J’ne e
Feb 14
122% J’ly 26
Reading
1st pref
89
4
7
3
jan
146
105
5b St L__
70
312
92
J’ne 30
J’ly 26
Seo 21
100
Do 2d prei
132% 91,110 Pennsylvania
1,284 Pittrb Cin Chic
98%
115
Do pref
156% 674,200
X97%
3434
68
*62
Pacific
Co
Do Coast
1st pref
199% Oct 18
123
23
40
114
144
600
Subscription receipts
^143
9,900 N Y Ontario 5: Western.
88%
18,525 Norfolk & Western
88%
Do adjustment pref
100
88
44.436 Northern Pacific
111%
100
94
7
Jan
82-V May*. 1
70% Apr 14
159*4 Jan 6
......
148%
124% Jan 3
104% Jan lo
137% Jan 5
119% Jan 8
J’ly 1
131% J’ly 26
J’ly
Mch
20
J’ne 30
Oct 1
.........
Do
Mch
Highest
Mch
25
72% Mch 8
15
39
60
LakeDoErie
5b Wectern
pref
600
J'n©27
36
Lowest
Apr 28 162% Feb 23
$160 Apr 25 $170% Feb 18
2% May 24
5*a Jan 4
4% Sep 28
12% Jan 4
70 J*iy 26
92% Mch 18
99
Sep 14 104 Jan 16
46 J’ly 26
65% Feb ‘'6
70
8i
J’ly 27
Men 4
70 Aug 1
81
Jan
6
149% J’ly 26 185 Jan 3
490
J’ly 26 020 Mch 21
52 Jan 3
23% J’ly 26
84
Jan
62% J’ly 26
3
45 J’ly 11
66 Jan 27
10
J’ly 1
1894 Jan 3
17
J’ly 26
34% Jan 4
19% J ly 26
34% Jan 6
35
J’ly .7
52% Mch 8
42
26% J’ly 27
Mch 8
118
J’ly
1437s Jan 3
45
J’ly 6
80% Jan 4
11
Aug 10
18% Mch 22
88% Jan 2-0
97% Apr U
Jan
25
99
Jan
4
94%
102
May 5 140 Oct 4
Feb 7 101% J nei4
86
124
4,362 Minn St P 5s S S Marie...
Do prei
Do leased line ctfs....
Mo
Kansas 5b Texas
11,100
140
*70% 72
203
140
.
1,000 Long Island
8,800 Louisville 5c Nashville...
2,070 \/l anhattan Elevated
1,070 Minneapolis 5s St Lou's
14834]
Aug 2
23% J’ly 16
64% J'ne27
19
J’ly 26
40 J’ly 16
113% J’ne 30
143
Sep 2
137% J’ly 26
65
at Rys of Mex 1st pref
500
60
Do 2d pref
3334 3334 33% 10,300
13%
119% 118*8 119% 138,290 N Y Central 5c Hudson.. 105%
68
66% 66%
1,760 N Y Chic 4e St Louis....
55%
110
Do 1st pref
*106% 110
$101
93
Do 2d pref
100
*88% 93
82-%
800 n N H & Hartford..__
154*4 154*4 15434
149
65
42%
42%
30% 31
30%
68
70% 70% 71*4] 71
118% 1195a 118% 1191? 118
26% 27%
26% 26%
26%
61
61%
60% 61%
60%
♦29
29
29% *28% 29*4
10
11
10
10% Ida
*7
9
*7
*7%
8%
28% 28% *27% 28%
27%
59% 60%
60
69*8 59%:
112% 1121^ 112 112 *110%
173% 174% 172% 174% 1723s
93% 94
93% 94
93%
*30
+20% 32
31% *30
60
*59
60% *59
18%
1914] 18%
39
39% 40%
40%’ 383s
49
49
49
48%
48%
71
71
71% 71*4] 72%
6
6
$6
6%
*5%
*12
13
13
14
145g
*7
8
*7
7l4l
7%
69
59%
20%
36
110
110
115
153%]
65
*35
*75
23%
120% 1215s] 120*8 121%
*96
*105
115
68
57
140
72
89
*104
*90
*105
115.
133
98
60
131% 132%
♦70%
33%
120
118*8
68%
66%
110
*106%
93
*83%
153
154%
149
148%
43%
43
100%
99%
*100
*84
*152
+147
43
22%
585s
1934
148%
143% *142%
32% 32% $32
33%
90
112
110
115
♦75
36
80
57%
140
72
43%’
100% 100
120% 121*4
15178 154%; 152%
*86%
’99% 99% 99
3334 35%,
34%
66% 68
67%
62
44
*145
*88
33*8 33%
333s
117% 116% 119%
101%
*84% 90%
120% 12134
*105
*90
*105
150
89
22*4
58
771^1
32%
65%
133%, 132% 133%
59%
36%
*75
3
132
23
57%
19%
36%
67
*145
*88
*135
70%| 71
68
♦106% 110
*88% 91
154% 155
148*4 149
43% 44
187g
39%
6
13
71
60
19%
36%
77%
33%,
77%
34%
49
*135
31%
60%
7234
19%
Do pref
67%
65% 65%
65%
147
147*4 148% 147 148
148%
144
14478 *143% 145 +143% 145
33
32 r> 32% ♦30
33
3334
60
54% 54% *50
53% 54%
132% 1327g] 132 133% 131% 132%
93
48*4]
59
*75
19%
*41
66
58
35%
3634
‘
I8I4
3878
48*s
77%
77%
110
*75
*73
169
19*4
36
♦75
34
♦145
*88
36
365a
68
67%
30
69
*....
8
59%
60
150
30
68
*29*4
3
*6
*203
.165
3%
2%
7%
7%
13534 *13334 135*4
23%
22% 22%
225g
587s
1934
*66%
17%
68%
148
145
32
53
4234
*92
*2%
205
150
285
Feb 26
48% Feb 23
90*4 J’ly 26
X97
J’ly l
102% J’ly 26
100% Sep 6
87% Sep 10
68% Feb 7
176">. Feb 8
60% J'ly 20
248
J’ly 26
64.475 Brooklyn Rapid TransJt.
22,865 / Canadian Pacific
Havana Electric
6878 687g
118t4 119181 1187s 120%
2718 2734
2634 27%
i
6OI4 6H4
61% 62
2912 29*4
29% 297g
11
10% 11
} 1078
9
!
858
8%
*7%
i
28% 28%
28% 28%j
59*4 597g
5978 597s
*112
112% 112% 112%
171% 173% 173% 175
'
65% *
65%
25%
24% 25%
50
60%
50%
127% 126% 128%
150% 150% 150 150
149
150% 150 150
*203
*145
*150
165
*99
•
!
205
160
76*4
697aj
40
*273
83
*35
*_
90.400
1.000
7,600
10,650
Highest
25
...
14978 1513s
*86% 89
*96
99%
325s 33%
66
61
77
110
83%
*30
78*4 79%
197% 199
*65
68%
Uaiboads
Arbor
Do pref....
*tch Topeka & Santa Fe
Do pref
Atlantic Coast Line RRl.
lJaltimore & Ohio
a*
Do pref
.
119% 12038
*105
3%
71*
82%
40
--
-
*203
*140
♦150
150
165
83%
on
91
*89
34%J
71%
33%
f i 115% 116%
68
$68
*106%
83
285
*275
Lowest
A
Range for Previous
Year (1909)
On basis of 10O-share lots
EXCHANGE
675
♦497% 575 *497% 575 *497% 575 *497%
34
33
34l2 35
34% 3478
34%
33%' 34%
78
78
78
78
76*4
Do pref.............
767S 7712
700
*75% 77% *76
77*4
58
55
*52
*54
60
60
60
$55
*53
*53
60
13 Detroit United
1412 *1214 14
*12% 14
Duluth So Shore 5b Atlan
*12% 14
*12% 14% *12% 14%
26
26
25
26% $26% 26%
2534
850
Do pref..
25% 251? 25% 25%
31
31
30
31
30*8
30%
29% 30%
30
29% 30*4
44,170 Line
Ei
50
49
5114
5012 51
50% 51
51
50%
Do 1st pref..
50%
50%
8,200
40
39
40
39% 4Q
39%
38% 381? 39% 39% *37
800
Do 2d pref
1317a 13112 132*4 *130% 1301m 129% 130% 128 130
129
130% 24,010 Great Northern pref
60
59
61
59*4 60%
597s 60
58% 60
Iron Ore properties
60% 61*8 25.280
14
15
15
*14
15
*14
1478 147s ♦13%
*13%
15
5 Green Bay 5s \V, deb ctfB
*94
*04
*94
*90
*88%
957a ♦
95%i*
95%
Do pref
95% *_
95% *____ 95%
.......
*->_. 140
*.... 140
Hocking valley
630
13234 13234
*145
206
277
*30
65% *.
25
25% 257g
50
50% 50%
127
127
128%
2678
497s 51%J
12712 128%
15012 150% 150% 150%
149
150*8
149*4 150
*7412
169*4 169*41
277
284%
83% 84%
*32
65% *-40
*5
77
75
284
8434
*212
7*2
76%
*75
*73
83*4
*30
*..._
25
*203
*140
*160
:
i
285
Week
Shares.
104% 105*4
101% 101%
119*4 120%
108% 109
Range Since January 1.
NEW YORK STOCK
35
70
*25
*65
1047a 106
104% 1057a 104% 105% 103% 105%
f '101 101
101% IOH4 101 101
10078 100% *100% 101
I
118
118
119 V 118% 120% no
119
121
119% 121
1 108% 1095s 10912 110% 109% 10978 108 109
107% 108%
91
91
I *86
90*4
*88
90*4 90*4
90*4 90*4 *89
77*4 78*s
78% 79%
78% 79%
78% 79%
78% 79%
i
196% 196*4 196 197
197% 199% 197% 1981? 197% 199
*65
70
*65
70
*65
70
70
*65
*65
68%
PAGES
23
J’ne30
J'ne30
J’ly ?6
Jan
3
Sep
Aug
Aug
160% Jan
J’ly
$180
8% Dec
7% Dec
56
14%
Nov
76%
73%
167%
535
37%
79%
28
Mch
105
68%
Jan
86
May
200
680
51
90
May
Apr
Apr
84% Jan
Feb
71% Aug
Jan
21
Feb
36% Jan
22% Mch
36% Mch
28% Mch
136% Feb
65% Mch
13% Nov
J’ne
39
56% Aug
Aug
46
157*8 Aug
88% Aug
Dec
Deo
Deo
3y
Feb
83%
Feb
21
103
100
88
Apr
*94iV J’ne
Feb
11% Mch
36% Mch
137
162%
Aug
25% Deo
26%
43
74%
Nov
Sep
63*8
Deo
30
62
82
Apr
Apr
Sep
37
£eb
50%
Aug
67%
19%
Feb
75%
29%
64%
71%
162%
153%
Feb
48
69
rl21
Jan
137
Dec
Jan
Jan
Sep
61
Mch
M
Jan
1321
147 “Apr
89
J ly
35%
Feb
122'o
Feb
Feb
Jan
4412
Apr
71
65
100
Mch
Feb
Dec
Dec
J ly
159% Aug
**~u
116!
Deo
106
115
Sep
151*4
99%
116%
173*%
Sep
“
►
Feb
Feb
Mch
Deo
Dec
Sep
Sep
Aug
117% Deo
96
Feb
81
Deo
94*4 Deo
74
Deo
60% Sep
35% Deo
82
Dec
139% Aug
Aug
75% Deo
Aug
40%
42%
15%
54%
74%
116%
Feb
64% Feb
41
May
Aug
55% J’ne
102
92U
20?8 Feb
r94
30
Dec
NOV
Feb
100
Nov
95
174% J’ne
/i 149*4 Dec
13314 Feb
76
Mch
100
Mch
88
Mch
126% Feb
86% Jan
97
Jan
Aug
Jan
69
85% Men
43
149%
164%
64
42% Feb
84% Jan
104
118
89
90
Jan
26%
147%
7G% Apr
1154
NOV
/147io
fug
Jan
65
90
Dec
50% Oct
78% Oct
77% Aug
142
Dec
21
Dec
120% Feb
48%
Aug
Ang
J
Deo
94
Jan
Jan
Jan
1
Oct
Jan
Deo
Aug
118% Aug
219
Mch
Feb
47
77
60% Feb
15
Feb
Sep
Sep
27% Deo
61% J’ne
Feb
12
15
Oct 15
Jan
7
Jan
Jan
Oct
Jan
Jan
Feb
Feb
Jan
Jan
Jan
68
100
51
Aug
Aug
18% Jan
83% Deo
172% Feb
3
Deo
37% Dec
64% Deo
Feb
165%
181
158% Mch
173% Feb
198%
Men
208
$230
Apr
148
167
47% Jan
114% Feb
22 Feb
60
Jan
30
Feb
12% Dec
7
May
o
Sep
141
20% Feb
3
Oct
Not
74% Apr
78% Mch
Nov
70
31% Dec
58% Dec
3
4
4
3
189%
70*4
323%
91%
60% Jan
Feb
215
55*8 Jan
577g Feo
3
4
12
82% J’ne
Jan
Mch'
6
6
3
3
3
7
126% Oct
106*4 J’ne
143% Aug
122% J'ly
96
Apr
Nov
91
67
*165
67*8 Feb
65% Mch
36
Feb
6
13% Jan
60
3an
100% Jan
107% Jan
103% Feb
9/ %
6
J ly
15% J'ly
6% J'»y
127g Jan
25% Jan
15% Jan
35% Jan
637k Apr
BANKS AND TRUST COMPANIES—BROKERS'
^UOfAIIONS.
Banks
Bid
Ask
New York
Aetna
Amer Exch.
Audubon
Battery Pk_
__
SSi
gronx
ryant Nat
Pk 1
Butch & D:
175
580
230
100
115
375
300
195
155
140
170
430
180
115
125
205"
160
145
175
450
Banks
Chatham
Chelsea Exf
Chemical
Citizens' CW
City
Coal & Iron
Ask
320
430
153
395
Colonial !|__
Columbia
415
Commerce
f 202
Corn Ex !|__ t311%
East River. 115 . 125
Fidelity !|__ 165
175
Fifth AveH. 4000 4760
-
.
-
-
-
Banks
Filth
First
14th
StU__.
Fourth
Gallatin
Garfield
Gcrm-Am
....
Germ'n
T186
320
290
Ex$!
Germania D_
Gotham
Greenwich
But
300
835
150
D
Hanover...
imp & Trad
140
485
550
150
255
610
540
Ask
Banks
Bid
Ask
350
855
155
frvlng N Ex
JelfersonU..
Liberty....
200
210
Mutual
185
Nassau 1]
New Neth’d
Lincoln
400
320
425
330
NewYorkCo
New York.
N’ht &Day!l
19th Ward.
Northern
flOO
215
Pacific!]....
230
240
|350
—
--PT
340
300
150
605
565
^
«
625
Manhattan^]
vlark’t&Ful 1251
Mech&Met's 235
Mercantile
150
.'lerch Exch 160
Merchants’. 178
.
^
265
625
560
auu a ncup
♦ Sale at Stock E;•*otab*e
Bui
310
200
425
148
385
150
400
it iiiuii- liar£3£&i«iY£u?
Metropolis %
Metropol ’nfl
Mt Morris!].
i
390
200
260
loo snares,
n
245"
160
170
182
Banks
!J
But
Ask
285
240
210
900
315
200
250
295
220
260
410
t348
People’s !]__ 250
210
Phenix
260
Plaza!)
....
190
625
275
200
..
....
a Ex-dividean ana runts. 0
Sold at private sale at this price,
s 2d paid.
V 3d paid*
oamrs.
ttta
Ask
160
165
105
100
390
400
135
275
....
325
..
Park
Banks
Prod Exch !i
Reserve
>eaboard
Second
Sherman
State !|
12th Ward.
23d Ward..
Union Exc.
Wash H’ta !)
West Side ij
orkvilie !J.
425"'
290
140
1V0"
165
275
65)
500
stoex.
_
.
‘
Oct. 22
New York Stock
1910.]
Saturday
Monday
Tuesday
Oct 15
Oct 17
Oct 18
Wednesday
Thursday
Friday
Oct 19
Oct. 20
Oct. 21
Range for Previous
Range Since January 1
STOCKS
Sales oi
the
Week,
Shares.
LOWEST SALE PRICES.
STOCKS —HIGHEST AND
1079
Record—Concluded—Page 2
V fint
NEW YORK STOCK
EXCHANGE
Lowest
justri.iL; Mi reel lancet:.
A dams
Express
llls-Chalmeri
ZIOnQ
Lrwesl
H ighest
Highest,
.ii
*250
*10
3312
6834
46%
*100 ’
3812
*92
834
70
*250
*251
IOI4
3312
11
IOI4
3534
7H2
473s
*33i->
”
467s
70
70%
4634
39
9434
9%
70%
5415
71
5538
4116% 116% *114
11534
67
66 "
6634 67l2
53
10**>
10i4
*3312
696s
483s
47
4834
38
38i2
*9U2
918
70l8
94
93s
7012
54%
54
5434
35%
71*8
48'g
*100
37*4
37*2
93%
38%
*93
9
94
11
94
77*4
7514
7ol2 77%
7334 75
7512 761?
103% 1036a 104
10478 10478 10478 10312
*240
*240
300
300
*240
300
10U2 *100 10112 10H2 10112 *101
47
47
48
46
4712
45
120
11912 11912 118
11958 119
*116
115% 11678 II6I4 H6I4
*11514 116
13978 139 13912 139
13834 1387s 139
94
9414 9434
9438 95
9412
*9312
32
3218 3212
3212 33
3H2 32
96l2
9634
96l8 96i8 *96
*9512 9612
43
4268
4334
4234 44i8
41% 4212
2912
29U 307. •„ 293s 2934
2934 30
60
*58
6058
59l2 60'i
5912 5912
140
140
139
♦138
13912 13934 139
*11
30
35
*11
12
30
36
30
36
6
7812
*6010
31%
20i8
*52
13612 1376s
1714 17i2
7912 80l2
734
512
176s
13
5418
*43
84
64
*61
*1612
*83
60
*60
15434
154
*15
*51
5912
154
551
51
15512
778
8
109
10934
110
124
51♦5lS
18l8
18%
1338
5434
13
55
5534
44
84%
4378
12378 12378
13
84
105
18l2
13
5534
45
85
44
5534
4484
85
*84
9584
77
112
11234 112
122
122
*120
1734 *1612 18
84
84
87
*.__.
122
*1612
18
*80
87
139*2
2178
7912
681?
3134
423s
6818
3114
*4012
109
*9012
*20
*69
36
*96
164
*2
*278
38
*9414
34%
9678
109
93
2OI4
71
3614
97
164
3
5
38
99
3458
9678
6634
56
*1051/1 114%
37*4
3678
137
91
13758
96%
43*4
303s
606g
95
9
59
♦85
*8
*5734
834
*85
*8
95
9
10312 10312
1051a 1051?
19
16
1712 *17
1712 1712
60
63
58
*58
5734 5734
*103
105
110
110
*101
5105
74
*70
72
7012 7012 *70
8
*6
*6
8
*6
8
*1514 25
*15l4 25
*1514 25
3814 3834
112% 11218
75i2 7512
7578 7734
11934 12018
50% 51%
6214 6312
124i2 124i2
383s
111
74U 7414
7434 76i8
11934 120
6OI2 51
62
61%
*12212 124l2
*162
73%
72
*118
97
*96
43*4
32*2
63*4
42
30*4
60*4
5
5
5
136% 138*4
1778 18*4
♦79
80*2
137
1738
80
*60
64
*60
3134
315g
3112
21
51
*15
51
154
105
94
76
106*2
122
*16
*80
122
5
5
138*4
18
80
137%
17%
*78*2
64
*60
31*4
3134
21
51
155
154
8
778
*15
*15
50
155%
7%
7'8
108*2 109
12334 12334
*5*8
5*2
18% 1834
12% 12*2
*55
5534
4412 44l2
§85% 85*4
*47*4
155
7%
112%
10934 11434
124*2 124*2
6
*5%
18
18*2
124
6%
18*2
1234
1234
*12
55
55
4378
44%
*54*2
44%
84
*83
x84
10434 105%
104*2
*93
*94
95
3834
111
575l2 7512
7614 7758
11912 11978
6H4 52
6234 64
....
.....
7214
124
*120
*120
*16%
1734
*83
87
*85
*8
*57*4
*103
*105
177s
63
110
72
8
25
17%
*83
165
165
124
§55%
*102
7034
7*2
7%
76
79
*164
71
71
*120
169
72
*16
38
111
75
55
12
*164
72
73*2
74*2
124
124
_
Bid
Ask
375
Brooklyn
Coney Isi’df
First
290
Hillside!]
Homestead!
Manufac'rs
Mechanics '1!
Montauk
•
•
•
415
225
....
245
150
..
Nassau
»
110
155
310
125
115
245
270
'
•
t
Banks
Brooklyn
Nat City
North Side
Bid
290
150
158
150
\
...
1).
160"
90
t325
Tr
625
650
J'n330
122
18
87
62%
104
22*4
80
68
33*2
4234
109*2
03
21%
71
35%
96
16434
Do pref
300
400 IVTational Biscuit
Do pret
100 XN
300 Nat Enamei’g & StaniD'e
Do pref
8.200 National Lead
Do pref
250
33,150 rfNev Cons Copper.Par $5
100 New York Air Brake..
3.060 North American Co. new
5,050 pacific Mail
2,200 A aciflc Telep & Telex.
5.200 People’s G L & C (Chic)
Philadelphia Co (Pittsb'h)
6.450 Pittsburgh Coal Co.___
Do pref
3,000
2,550 Pressed Steel Car
Do pref
1,290
760 Pullman Company
_
-
_
Quicksilver Mining
2*2
5
37
96*2
35*2
96*4
55%
114%
40*2
144
95
9
59
104
106
17
55*8
110
70*4
7*2
1934
38*2
111*2
75
55
12
170
72*4
75*2
...
Do
pref
1.520 Pail way Steel Spring..
Av
Do pref
20.500 Republic Iron & Steel
Do pref
1,372
9.110 Qloss-Sbeffield Steel & Ir
O
Do pref
46,470 dTennesseeCopper Part 2 b
3.050 Texas Co (The)
_
100 Texas Pacific Land Trust
100 I Inion Bag & Paper.._.
G
Do pref
Mch
{
693. Mch
1
107
Oct 13
o_o
Jan
90% Jan
C
Jan
S
In
128% Feb 18
Feb 28
1433s Feb 24
9 j34 Mch 1<
39*2 Mch 18
104
Mch
145
100
Central 'Tr. 1000
Columbia
276
Commercial
120
300
Empire
Kquit’ble Tr 455
Farm Lo&T 1625
__
..
Fidelity
205
Fulton
290
....
J’ly 6
22% J’ly 26
30
J’ly 25
103
J’ly 26
84
J’ly 6
13
J’ly 26
60% J’ly 26
25
J’ly 26
90
J’ly 27
63
155
2
o7»
28
J’ne29
Sep 26
Aug J.
J’ly 26
<ranij Sen
^u.11
Jiii-1(l°
stock
7
J no 4
27
8234 J’ly 26
48% J’ly 30
114 J’ly 6
$19*4 J’ly 26
134 Oct 7
83
0
Feb
8
J’ly
5
KK
J*lv IK
_
100 Vulcan Detinning
230 Wl ells
Fargo & Co
estern Union Tel eg..
5,570
12,800
100
Ask
Y City
B’way Tr__
Uarnegle
101.34 J’ly 26
$17*9 J’ly 6
59 “ J’na o
_
124
Bid
71
J’ly 27
100
Aug 3
11834 J’ly 6
14
Sep 17
84
Oct 17
45*9 J’ly 26
7
Westlngh’seEl&Mfg
Do 1st pref
assen
1150
110
285
130
310
1650
210
rnm+'m
trust Co's
Guar'ty Tr.
Guardian Tr
Hudson
Knickerb'kr
Law T I&Tr
Lincoln Tr.
Madison
Manhattan
Mercantile
Metro poi’t'n
_
Mutual
....
All nee
Bid
Ask
805
180
285
250
180
295
260
140
20)
375
700
510
130
120
Feb
110
May 3
dividend,
8
J’ly 26
49% J’ly 26
Feb
Jan
9934 Apr
Feb
21% Feb
114% Feb
16% Feb
73% Feb
45
Jan
32*2 Feb
55
Mch
80
Feb
29
02
0 an
Jan
H»34
109%
r%
18%
910
Feb
Jan
12%
6178 Jan
.Tan
4578 Jan
104% jan
86*2 Jan
TTaYi
801?
96
169
3
3
3
3
Feb
Jan
F«h
16%
67%
Feb
Feb
” Feb
$33% Oct
80% Feb
9% Feb
jan 3
6
Oct 21
Jan
Jan
Jan
4
£9^
Ton
I*.
8
jan 4
78% Mch 4
82i2 Jan 3
al95
Feb 24
87% Deo
Aug
56
lli*4 Aug
Aug
200
Q&.
.1 ‘1V
54**
Aug
49% Sep
iio% J’ly
945a OCt
ion 8 sen
Jan
$49
Jiy
i.5% J’ne
93%
Oct
125% Deo
Spin
ii j
24% Feb
3
3
29% NOV
no
3
84 Jan 10
145
Jan 10
84% Jan 4
11
Jan 14
621? Jan 3
116*2 Jan 10
84 " jan
3
87% J’ne
48U Nov
64 “ Oct
120
Aug
103
Deo
115
jan
73
Aug
94
6 Mch
077.
68
3
130
Feb
1
Jan
125-%
$60*4
66%
129%
Feb
32% Mch
3
17
122
Jan
Jan
i!u .j&n
'l
17
01
Feb
991; Dec
10
Apr
Feb
40
May 13
29*9 .Tan
95*2 Nov
775! Dec
120
Sep
130
Sep
30% Dec
45% Nov
rolls Jan
Ton
Nov
2 Sep
Jan
72
Jan
20i« Feb
13% Jan 10
32
91
113*8 Dec
97% NOV
$40% Jan 3
144 ~ Oct 18
95
54%
J’ne
Feb
80
73
Oct
27% Jan
19*4 Jan
69*4 Aug
113*4 Aug
107% Jan *
200 Jan U
3% Apr 6
107
Dec
’ Dec
102*4 Apr
«
3
KJfa’xr
Mch
82%
70
5178 jan
R7«
J’ly
J’ly
3319
104
Jan
85
128
9
Mch
4734
3
8
I
3
Aug
17234 Aug
71%
4
4
95% May
Feb
s-2
43*4 Jan
46% Jan
1163s Jan
106% Jan
2734 Jan
411? Jan
94
150%
3
3
3
1363g Sep
Apr
145% Sep ,
104
May
40% Aug
10734 J’ne
554% Dec
36*4 Sep
69*2 Sep
164% Dec
19% Dec
37
Nov
5184 Oct
111 Sep
53
Deo
91% Dec
165% Jan
26*2 J’ne
93% J’ne
63
Dec
131
70
82
64
10
24
” Mch
27
Feb
" Dm
35% J’ne
8712 Aug
Feb §111 " Dec
Feb
87
Sep
Mch
17% J he
Feb
Jan
67% Feb
41% Feb
107
Feb
$39*8 Feb
68
40% Feb
39% Aug
57% Aug
123*2 Aug
89% Aug
047* Oct
131
Oct
$67% Nov
56% Deo
114
67
w Jan
300
64
74
110
Jan
Feb
Feb
]670
Mch
145
Feb
128
Deo
75% Sep
Deo
85% Nov
90
Aug
Sep
QUOTATIONS.
795
170"
152
50
11634 Aug
69% Jan
9612 Jan
118% Jan
95*9 jan
84 " Jan
69
Sep
92% Aug
105% Nov
(285
NOV
105
May
663* NOV
17% Dec
23% Jan
2519 Men
89% jan 4
110% Jan 17
$2238 Oct 17
Sep
10
61% Aug
42% Apr
J 'ne
20
4734 J’ne
69*4 Aug
122
Aug
u% J’ne
101
47
jan 17
28% Jan
12434 Aug
79*4 NOV
107% Nov
306 ’ Dec
225
118
7834 Oct 10
llo ' Jan 6
125
Nov
Jan
77% Feb
Jan
Mch
95
Mch
34% Feb
115% Nov
118 Nov
125 Feb
y0*9 Feb
Feb
26
93% Jan
$37% Feb
183,1 Mch
101*2 Sep 20
Jan
J’ly
5*2
38
80
112% Jan 3
Apr 27
66
Feb
Jan
Feb
109*4 Feb
215
124
Jan
12
29
49
J’ne
Nov
86
7619
18% Jan
Feb
Mch 21
104
57*2 Nov
V6% Nov
50
Aug
103
Aug
49*9 Aug
98
Oct
15% Nov
Feb
6*4 Feb
34
Feb
L
^/%Jan 3
29*4 Mch l
1734 Jan 3
<!6% Jan 3
62% Jan 3
115 Jan 7
8
48
16% Aug
Feb
98
(205
<
Nov
250
107*2 Feb
42% Jan
8*8 Jan
800 United Dry Goods Cos..
96 Aug 2
Do pref
1,300
99% Aug
U
S
Cast
I
1,138
Pipe & Foundr
14% J’iy 21
Do pref
328
49
J’n©28
110 United States Express
95*4 J ly 26
200 U S Realty & Improvem’t
6434 J ’iy 26
1,200 U S Reduction & Refining
4
J’ne27
700
Do pref
13
J’ly 8
United
States
5,000
Rubber
27
J’ly i6
Do 1st pref
600
99
j’ly 26
530
Do 2d pref
59'9 J’ly 27
1137426 United States Steel
J’ly
61%
26
Do pref
8,870
110*9 J’ly 26
41.810 dUtah Copper
Par $10 i$3038 J’he30
46.750 Vlrgima-Caro!ina Chem..
47 " Feb 3
400
Do pref
117 J’ly 28
100 Virginia Iron Coal & Coke
50
Sep 24
Mut
day.
this week,
U
.
400
740
620
130
Irust Co's
Ask
Bid
NY Ltfe&Tr 1100
1120
N Y Trust. 625
650
90
105
Savoy
410
Standard Tr 400
TltleGu* Tr 490
500
Tr Co of Am T330
1315
Union Trust 1275
470
US Mtgds Tr 460
1200
Unit States. 1175
Washington 375
160
Westchester 150
Windsor
120
130
■
•Bid and asked prices: no sales on this
tSals at Stock Exchange or at auction
120
i
If
_
’
•>
305
180
Irust Co’s
N Y City
A a tor
Bankers’
Irust Co's
N
People's
Prosp’ctPk^
Terminal
Ask
jU
jan
47*4 Jan
95% J’ne
13'gJan
81% Jan
72% Jan
_
BANKS AND TRUST COMPANIES—BANKERS'
Hanks
Brooklyn
Broadway 1
103
62% J'ly 20
Feb
44%
190
6434 Jan L
9034 Jan :
■»'..%. Oct 21
39% J'ly 26
109
3
3
200
]0l
210 American Express..
J235 Aug 3
400 American Hide & Leather
3*2 Sep 13
Do pref
19
Sep 8
1,900
16*2 J’K 26
4,750 American Ice Securities..
American
800
Linseed
10% J Ty 27
Do pret
800
25*2 J'neat.
29
J’ly 26
6,700 American Locomotive
Do pref
130
102% Aug 6
700 American Malt Corn....
4
Oct 1
Do pref
28*? J'De30
2,250
200 Amer Smelters Sec pref h
82
J ’ly 23
61% J’ly 2c
129.005 Amer Smelt.ng& Refining
Do pref
2,300
98% J’iy 26
American Suutl__
277
Apr 4
Do pref
100
95% Jan 13
Amer
Steel
Found (new)
38 J’ly 26
4,425
3,600 American Sugar Refining 111% Oct 3
Do pref
400
112 Oct 3
10.518 American Teieph & Teles 12i>3j J’ly 26
1,300 American Tobac (new) ,pl
90% J’ly 26
1,850 American Wooten
25% J’ly 6
Do
300
pref
91% j ly 5
78*8 79*2
119*4 120% 11934 1203s
51
5134
50% 5134
64l4 66*8
64*8 66
*125
126
126
125*2
7578
56
73*4
71*2
72*8
71*8
110
72
*73
“
6478
125
56
§17
1934
3778 3S34
111*2 111*2
119*8 11934
50% 61»s
63*2
*102
106
17%
6*2
77*4
125
*___-
*8
*5784
18
38l2
7534
*85
95
9
59
104
106
60,
*55
*102
*69
112
76
*110
*73
*120
121
95
8
59
104
106
1712
*15*4
3S*4
170
16734 §170 *165
73
7312
73i2 7378
72
7134 72l4
7212
168
74
124
38%
111
104
106
17
*58
110
*70
*6
250
12,700
3
6
L
Jan
10,800 dAnacondaCopper Par $2 61 {33*2 J ly 26 $54
Jan 3
21
347o Oct 21
J’ne3i
18,470 Ijethlehem steel
Do Dref
49
Aug 10
65 w Jan It
4,700 kJ
J’ly 26 164% Jan 3
125
500 Brooklyn Union Gas
8
J ’ne ^9
200 Brunswick Term & Ky Stx
18% Jan 3
33
J’ne b
350 Butterick Co
28
Jan
4
25% J’ly 26
30,555 / central Leather......
4834Jan 3
Do pref
304 w
106
99*4 J’ly 27 109% Mch 3
60
Jan 3
22*2 J’ly 26
7,300 Colorado Fuel & iron
3534
Col
&
Hock
Coal
&
3
Sep 12
5
700
Iron
92% Jan 4
Consolidated
Gas
(N
Y)
322
26
J’ly
1GQ38 Jan 3
13834 65,350
11% J'neao
18
9.800 Corn Products Refining._
23% Jan 6
Do pref
1,750
70% J’ly 26
S638 Jan 3
80*2
Crex Carnet
64
55
Apr 26
Distillers'
Securities Corp
25% J’ly 26
3,900
31*2
3G34 Jan 10
140 Federal Mining & SmeltT
20
197s Oct 11 * 60 Mch 8
Do pref
88
50
550
48
Oct 3
Jan a
134
J’ly 26 160% Jan 6
6,900 General Electric
156*8
8
S7% Oct 14
15,790 dGold field Con M.Por $10
§9% Sep 26
11334 22,296 | nt Harvester stk tr ctfs s83% Feb 8 K6% Jan 10
Do pref stk tr ctfs__
124
600 A
129
Jan 4
xll7
Augll
900 Int Mer Marine stk tr etts
4*4 J’ly 26
5*2
7*2 Jan 5
Do pref
4,450
18*2
12% J’ly 26
24% Jan £.
800 International Pane^
16 Jan 3
13
9
J’ly 1
Do pref
1,500
55*2
41% J’ly 2t
61% Jan 8
Internet
Steam
44%
2,400
Pump...
36% J’ly 26
54o8 jan 7
Do pref
84
860
78*2 J'ly 26
9034 Jan 17
105% 20,700 Laclede Gas (St L) com..
9334 J'ly 29 116% Jan 10
600 Mackay Companies
79
J’K 26
98 Oct 10
95*2
♦
122
*_
87
63
*5734
4,680
3,400
12,750
76
76
*75*2 76*2
*110*2 112 *110% 112*2
17*2
*85
8
*5734 69
104U 10414
IO6I4 10o%
*10412 107
111
*95*2
.
59
38l4
139% 140*4
95*4 95*4
33
33%
95
33
97
95
33
lie.-
6H2
60%
6234 6312
61% 62*4
621?
IO5I4 104*2 104*2 *104 105*4 104
10514 *104
22
22
21*2
2134
21%
2134 22
2134 223s
80
*77
*76
80
78*2 781o *76
*7712 80
68
68
*66
*66
67*2
68
6712
6812
687s
32
33
32*2 3334
3H2 32l8
33*4
31% 3178
42
42
42
43*8
§4234
4034 43
4168 416s
109*2 10834 1093s 109*4
109
109% 10912 10978 109
*91
93
93
*90
*90
*9012 93
*90% 93
20
20
20
19*4
19%
2184
20%
19U
1934
71
71
70
69*g 6978
70
7014
70*2 72
35
35*2
35*2 35%
35%
3634 3678 §36% 3612
96
96
96
97
9634 96
97
96l2 9678
165% 165% 164%
5 1 6534 16534 ♦163 166 5166 166
3
*2
*2
*2
*2
3
3
*2
2*2
5
5
5
*278
*278
*27g
5
*278
*278
37
37
35*2
38
3634 36%
37% 3712
3812
105
*95
105
105
*95
*93
*93
99
§96*2
34
33*4
34
34*4
3368 34
33*2 35%
3478
96*8 96*8
97
97
96*2 97%
9634
*9612 97
55
52
55*2
55
56
57
56
54*2 6534
114*4 *105
*105U 114
114*4 *105
♦10514 11414 *105
38
38
383s
38*4 40%
37% 3838
37% 3778
142
144
14278 141*2 14334 142
13812 13834 140
91
*8l4
*5734
•102 "
*115
13878 140
94
33
62
6134
*10334 10534 *103
21
*76
117
*115
1057g 10612
94
*9378 97
76
*7514 77
*109
11212 *110*2 112
106i8
9534
*7514
78
6
*5
18
*12
783a
105
310
102
101*2 *100 lOH? *101
47*2
4534 47%
4734 48*2
118% 11938 *118% 119
119
117
106
*105
105i2 105% *105
34
3434
35*2
33*2 3534
3178
21
*15
109
124
124
51«
18
64
316*
778
734
778
1113s
102% 105
97
112
*120
64
32
21
581 *>
3H2
3114
201:
*94
*7514
11
30l4
13612 138%
1758 I8I4
80l2 8012
77%
105
*240
320
*240
4284 43*2
33*2 34%
62*2 6412
139
*138
140
*138*2 140
10% 10*2 *10*2 11*2 *10% 11*2
30
30
30
*30
530
30*4
35
35*2
35*2 36*4
3434 36%
6
*5
1714
7812
15412 155
109
124
*30
6
*5
135% 1361s
17
*10l2
3534 3634
3612
10512 10512 *105l2 106
3434 3534
35% 3614
*10434 10512
3514 3512
*5
111?
30
75% 77%
104*2 105*4
1043s
320
220
93*2
938
71*2
104
104
255
275
*250
275
*250
§255
275
*240
270
*230
5250 255
5
5
*4*2
47g
4%
*4*2
*412
5
*41i
478
*4U
4®4
2414 24*2
24*4 24*4 *23*4 241?
2412 25
*23
23l2 24l2
2378
20 *2 21
21
21%
2034 21%
21
2012 2238
20
20 ~
19
*11
13
1238 13
12*2 121?
12% 12*2
13
*12
1234 *11
*33
34
333s 34*4
34*4 34*4
33
33
3278 33
35
*33
40
40
4112
41l2
41% 42
41
4034 4138
413s
3934 41l4
106
106*2 *104*2 100*2 106
10S12 510612 10612 *105
*104 " 106% *104
5
6
5
6
5
*538
5
5
*412
5
*412
*412
35
34l4 35
x34% 3434 *34
34U 3478
34U 341?
3414 3438
88
89
*88
*8734
88
*87*2 88*?
8734 87*4
88
*873i 88
*240
*100
45
118
9,470
Jan
15
35
J’ly26
9y% Apr ;
24
J’ly 26
89
J’ly 27
6% J neat
62
j’ly 26
Amer Agricultural Chem.
Do
pref
American Beet Sugar
Do pret
American Can
Do pref
American Car & Foundry
Do pref..;
American Cotton Oil
Do pret
Jan
1234 Feb
38
Feb
65
Feb
33*9 Jan
95*2 Jan
20% Jan
S2
Jan
7*? Feb
7119 Feb
<}.70
7% J’ly 27
i7 .Aug L
55% J’ly 1 c
.
16,850
49*2
110
38
9
9*4
71
70*2 7034
55
54
5312
52*2 54*2
115
*114
115
11534 *114*2 115*4
6634 67%
67*4 677g
66% 6734
9*4
70'g
543g
A.
500
120
Do nrei
35%
71% 156,225 Amalgamated Copper
70*8
47*2
711?
49%
*100
*92
9
70
*9*2
*33%
35
69i4
48*2
38%
3712
11512 11512
66l2 68%
*250
10*2
*9
*33
*100
39l8
9412
912
3812
94%
9*8
70U
H
34
7184
*250
*251
-
-
*1014
534
70i8
.
Irust Co's
Brooklyn
Brooklyn Tr
Citizens*
Fiatbush
._
270"
425
140 *
220 ]
215
280
105
11Q :
200
_
..
.....
500
Kings Co
L Isf L * Tr 300
Nassau
*105
People's .u. 300
Queens Co. 115
..
....
Wllllamab’s
0 New stock e Ex*dlv and rights, d Now quote*
^Banks marked
with a paragraph
Ast;
410
...
Franklin..
Hamilton
Home
Bid
(11) are State banks.
-.vr
air,
176 |
316 |
125 A
J2SJ
New York Stock
11909, the Rvohanye msthod
BONDS
N. Y. STOCK EXCHANGE
Price
Oct at
ti« a, Government
2 S 2s consol registered.dl930
Bid
U S 28 oonaol ooupon....dl930
U 8 8s registered........£1918
0 S 8s ooupon
fcl918
0 S 8s oou small bonds..Icl918
0 8 4s registered..........1925
0 84s ooupon
1925
0 8 Pan Can 10-30 jrr 2s.k 1936
Ask'Low
......
......
101 1100%
102% 102
102 Vi 102
101%
115
115*a 115%
115*3
116%
loan 4%*..
1925
4*98
....1925
Sterling loan 4s
1931
Bepul) ol Cuba 5s exten debt..
Sam Paolo (Brasil) trust 5s 1919
0 8 of Mexico s f g 5s of 1899
2d senes
’
;
Gold 48 of 1904
1954
State and City Securities
N Y City—4%8
....I960
4% Corporate Stock
1959
New 4 48
New 4%s
1957
1917
4% Coruorate stock ....1958
!
4%% Corporate Stock ..1957
%% assessmt bonds.... 1917
4% Corporate stoox....l957
N Y State—Canal Impt 48.1960
4
l
! So Carolina 4 *38 20-40
1933
Tenn new settlement 3s.. 1913
!
1
Virginia fond debt 2-3a... 1991
tts deferred Brown Bros otfs.
Railroad
laoama Cent bee So By
\ ilJabaMidl bee At Coast Line
; Albany A Sosa
bee Del A Had
1
Allegheny Valley bee Penn UK
! Aileg A West bee Bod B & P
1
Ann Arbor 1st g 4s
41996 Q-J
; Atoll T & S Ee—Gen g 4s. 1995
'
Registered.....
1995
!
Begistered
I
!
I
High
161%
-‘i-
...
89%
102%
67%
♦ 67
97%
94*a 96*a
hese
are
102
•>
94% Sep’10
94%
....
101
69% 96%
104 %
164
95% 96%
84% 88
Begistered
97%
g
4S.......A1U95
A1995
41995
of 1909... 1955
Stamped
Conv 4s issue
Cony g 4b
1956
Conv 4s (full pd recta).. I960
10-year oony g 5s
1»17
Debentures 4s Series J. 1912
Series K
1913
East Okla Dlv 1st g 4s.. 1928
Short Line 1st 4s g
195b
8 h e Pres A Pli 1st g 6s. 1942
, Atl Knox A N
bee LA Hi
i Atlantic Coast 1st g 4S.A1952
Ala Mid 1st gu gold 5s.. 1928
Bruns A Wist gug 4a ..1938
Charles A Say 1st g 7s.. 1936
L As N coil g 4s
ol952
Say E A W 1st gold 6s.. 1934
1st gold 5s
....1934
Sil Sp Oca & G gu g 4a
191b
!
..
Atlantic ib Dauy bee south iiy
Austin ib N VV bee Sou Baciho
L>alt A Ohio prior 1 g 3 %s.l925
| D Begistered
41925
Gold 4s
.....41948
Begistered
41948
Pitts J unc 1st gold 6b... 1922
r
PJ on AM Div 1st g 3 *381925
:
p L E & W Va Sysref 4sl941
i
Southw Dlv 1st g 3 >a8... 1925
Begistered
41925
<
Oen Ohio B 1st cg4%s..l93u
Cl Lor ib W con let g 5s 1933
Monon Biv 1st gu g 6s.. 1919
Ohio Blver BK 1st g 5s. 1936
General gold 6s
;
1937
PittB Ciev ib Toi 1st g 6s 1922
L
Pitts ib West 1st g 4s... 1917
Stat isl By 1st gu g 4 %s 1943
1 Beech Creek bee N iu<ui
Believ A car bee Illinois Com
Bklyn A Montauk bee Long 1
Bruns A West bee Atl Coast L
Buttalo N Y A Erie bee trie
Buffalo B & P gen g 6s... 1937 M-S
Consol 4 %a
1951! M-N
i
All ib West 1st g 48 gu..1998 A-O
)
Cl ib Mah 1st gu g 6s....1943
Booh A Pitts 1st g 6s...1921
Consol 1st g 6s
.1922
1
Baft ib Susq 1st ret g 48.41951
; Bur C B A N
bee C B 1 a P
/ tan So 1st ext 6s
1913
\
6s
1913
Begistered
1913
\ Oarb A Shawn bee ill cent
1
Carolina Ceut bee Seab Air L
\ Carthage & Ad bee N Y c & 11
; Ced B ia E A N
bee B C B& A
Oen Branca By bee Mo Pac
r Cent of Ga BB 1st
g 6a..pl945 K-A
Consol gold 5s
1945 M-N
46
45
66%
66%
104%
164%
103% J’ly’10
101%
Oct ’10
43
79
40
79
79
67%
92% Sale
98 J he’ 10
61%
02*8
92
Jen’10
98%.
99% 67
Sale
01%
1
02
10
68
88
U8%109V» 107% J’O’lo
......
sale
116%
95%
167% 100%
20|I
63% 184]
93
127
112
J’ne’09
Mar’10
....
95
J’ly’10
....
92
96%
95%
1
112
95
112
67%
92%
62%
92%
02%
93
2j1 90
91% Oct ’09
68% 99 *« 98%
13.'
09%
97% 106%
99*4 06% J’ly ’lo
96
90%
111%
120
Oct ’Ol
87% 88% 87%
2
«7%
87% 80*8
01% Bale
6
01%
91%
80
93
00
92
00
90% 14' 80
92%
89% Apr’lu ....! 89% 90%
98
Mar’10 r*»| 103
103
103
110
110
Oct ’10
110
113%
iol%..
105% heb’07 ...1
1
102%
Dec’09
112
110% 112 Nov’oy ..J
100%
ll9% Mai’04
06
08% sep ’09
....
•>••••
......
80
100
Sin km g lunu deb
107
107
05%
115% L16%J,ly,10
113% 116%
109
105
J’ly’lo ....j 105 109%
..
96
,
108
103
115
114% 118
Aug’1C ...J
J’ly’08 ....!
66
99%
J’ne’10 ....I 115
117
1 ib%
72
115*3 116% H6% Sep ’lo
72
72%
Mar’10
>
VJgd
Begistered
1st pref income
Stamped
5s....pl945 Oct
9a pret income g 5s
pl945 Oct
2d pief income g 5s
stamped ....
8a prei income g 6s....pl945 Oct
3d pref income g 5s stamped
|
102% 104
103% 104*8
100% 101*4 101% Oct ’10
100% May’07
109%
106% 108
1945 M-N
g
108
00
00
87
87
84
84
92%
109%
109%
107% 107%
113
Apr’06
91*8
92 Vi
87 V:
01%
1
j
.•♦•j
87
87
84
85
85
87 %
Oct ’10
84
72
14 102% 105%
100% 101%
1 109% 113%
6 103% 109
1
8
l
90% Oct ’10
87%
116%
11
1
2
85% Oct’10' ...-'
82
84
75
76
76
80
00%
87%
87%
86%
86
Railway
Brooklyn Bap Tr
g 5s
1945
1st refund conv g 4s....2002
BkCity 1st eou 5a. 1916.1941
Bk (j Co A S con
gu g os.1941
Bklyn (Jn El 1st g 4-6s.l950
Stamped guar 4-5a
1950
Kings Co Ei 1st g 4a....1949
Stamped guar 4s
1949
Nassau Elec gu g 4s....1951
Conn ByA LlatAref
Stamped
g4‘aa>51
guar 4%s
1951
Det United 1st con
g 4‘as. 1932
Havana Elec consol g 6s. 1952
Inter-Met coll 4 *38
1956
Inter Bap T 3-yr conv 6s. 1911
45-year 6s Series A.
1952
Internal Trac coil tr 4s..1949
Manila Elec 1st A coll 5s. 1953
*
No price
Priday; latest
this week.
103
104
84% Sait
101 *3 sals
97
99
103
162% Sale
162% 102%
102% 102%
b4% Apr’10
102 *3 Sale
81
83
82
yb V
78
80
102
100‘s
84
loiVi
98
103
84 %
10IV,
93
82
82
78
78
102*8 Mar’ll
101% Aug’It
80
81*3 80 J’ly’ll
96
95 *4
95%
81 *3 Sale
81%
81%
102% Sale 101 Vj 102%
101 ^ Sale
65 S
U Plat,
on
Street
101 *3
a Due
102
67% Mar’10
98
May’06
Jan
d Due Anr
101% 105
79% 87
101*4 104
93
99
98
103
99% 103
84
80
85%
76
82
85
102% 102%
LOu % 102
80
82%
93
95*4
77
83%
100% 104
100
103%
67%
«
67%
Dae May
Met St By gen
Bef g4s
Sale
..*]
....
161%
166%
114%
112%
163%
161%
65%
86
88%
164%
66
63
-T'-fS'-ffie-e?
87 %
76
95
77
68%
75
87% 88
98% 161
98% 166
98
160%
97% 99
6
18
106% 102%
6
106% 102
81
86%
97
106
121
127
108% 113
Ala)’06
......
no % 112
....
......
114
JDoc *09
100
J’ne’10
94
Apr *10
103
J’he’10
69 %
66%
....] iob
..*
.
63
85%
11
63
93%
31
105%
94
103
*4*3
88%
106%
93%
1
163% Oct '68
103%
160%
98
85% 89
91% 93%
167% 168
167
116%
107% Mar'io
108% Oct ’10
109% lu7%oct’io
105% 108%
102% 103% 162% J’ly *10 ...."102% 103%
116%
110% May’10 ...Jjl‘6% lio%
164%
104% Aug’lu ....'104 a 106
100
100
May'10
100%
-.T
108%
107
::::::
165%
110*8113
00
04
88%
in’
......
Aov’oj
100
105% Aug’10
100% May’10
103% Aug* 10
......
103%
1921
1921
1933
1933
105% 10a
...
100*4 100%
] 103% 105%
110% 113
Oct’10
J'nelO
J 96 Vi 101
95% J iy '19 ....j 95% 95%
80% 89%
5
87
89%
90
»
93% A pi ’09
110% Sep 'to ,...!ilio% 111%
111% Aov’U9 ..J
107 % 10c J’ly 10 ...."105
109%
I06
Mur’lo
iilU6
106
112
100
......
....
.
•
•••••
.
......
io6% reu’io
111*8 100 Sep’10
....' 105
107
106% 106%
109
111*,,
......
J ’ly’Ob
'109
114%
108%
117%
IL7%
tTTi
....
ill4% J’ly’10 ...J 114% 117%
112% Mar’io
112%112%
1
....
142% ECO’02
123*8 Apr’09 ....'
103% Alay’oy
100
109%
100
9 7 % baio
80% bale
......
!!!"! **95*"
75% Sale
111% 116
iba
100
10 7% 110
100
102
125
85
126
74
75
1 110
OCt’10
109
Aug’10
....i'109%112
1
109
97%
97%
98% Feb’io
20
1
94%
98%
109
99
98%
89%
sy% i*6*3 86
92
97 % J’ly’lo
97% 97%
94 v» Jdu '10
94% 94%
Deo ’09
94
1 94*4
94% May’10
94%
93 % Acg’U9 ***.|
75
75% 4*62 66% 83%
76% May’lo ...J 76% 80%
! 111
111*2Oct ’ll)
%ll4 %
120% Mar'03
1U6
Apr’10 '.II? ib*6 i'06
****!
104
1
May'lU
lo4
104
108% OCt ’10 ....•'108
110
10*
Eeb’io
103% 104
....
J
126% Oct *10
93
Dec
123
1
*03
127%
Next Page.
Railway
col tr g 5a. 1997
2002
BwayA7thAvlstogos 1943
Tri-City By A Lt lets f 5s.l923
nderground of Lon 5s... 1920
74% Sep’10
74% 82%
54
46
48% Sep’10
100% 102 % 100 Sep’lu
98% 102
96
100
96
06
102
J’ly ’10
96
97
99
Apr’10
96% 99
2
57%
61%
57% 69%
61% Salt
62
55
5ti%
2101
68%
107
110% LU7 %
107 V,
t 105% 108%
85 % 81% Oct’10
84 78 87
---r-
Nov’08
107% Dec ’09
97
97
98
103% 108
96
99%
4 Vis
1933
Income 6s
88
89
98
88
1648
86%
87%
37*
U nion El (Chic) 1st g os.. 1945
United Bys St L 1st g 48.1934
United BBs San Prsf 48.1927
^DueJ’ne
88
....
63
62
......
85%
86% 110 84
87%
124% Sep ’lo
12*% 129%
1
88% sale
110%
105%
103*a
Col A 6th A v 1st gu g 5s. 1993
Lex AV A P P 1st gu g 5s 1993
Third Ave BK oon gu 4s 2000
Ceut Tr Co certfs stmpd...
Third Ave By 1st g oa..1937
N Orl By A Lt gen 4*as ..1935
St Jos ByLtH A P lstg 5s’37
St Paul City Cab con
g 6s. 1937
u
116% Oct '10
69% sale
_
01%
::::!
96%
114
161%103
Mil L s A West 1st
g 6s 1921,
Ext A imp s fund
g 6s 1929 F -A
Ashland Div 1st g 6s..l925iM-S
Mich Div lstg6s
1924'J-J
incomes
191ljM-N
ihic Bock isl A Pac 6s...1917 J-J
Begistered.
1917 J - J
General gold 4s
1988 J-J
Begistered
.1988! J-J
Kefunding g 4s
1934, A-O
Coll trust Series J
4s....l9l2jM-N
M»s
1915 M-N
N 4s
1916 M-N
O 4s
1917
P 48.......
1918
Ohio B 1 A Pac BB 4S..2002
Begistered
.2062
Bur C B A N— lstg 68.1934
Begistered
1634
CB IP A N W 1st gu 6s. 1921
M A St L 1st gu g 7S..1927
Choc Uk A G gen g os .01919
Consol gold 6s
..1952 M-N
Eeok A x»ea M 1st5s....1923 A-O
iliio st L A N O bee ill Cent
ihio St L A Pitts bee Penn Co
JUlO St P M A O con 6s...1930 J -D
Cons 6s reduced to 3%s.l93ul J -D
iU18CELLANEUU8 BONDS—Continued
Street
os
Begistered.
96%
106%
124%126
..1879-1929
Debenture 5s
Begistered
” Nov’04
■
.“i
Oct’10
69
66%
167 %
1879-1929
Begistered
....
100%
101
108% Oct ’06
••••••
91
101%
166%
33] 86% 89%
■
97% May’10
••••••
169
98%iob
88%
88%
88
Sep ’lo
161 % Mar’oy
86
125%
126
**
100% 101% 100% 101
67% sale
67%
67%
100% J’ly'16
84% Sale
83
%t 84%
122
127% 121 J’ly’iu
111% 115% 112 Oct *10
series
Begistered.
Oct *09
160%
Sinking lund 5s...lb79-1929
1T-,T-
9
99%Sep lo
67
Sinking land 6s...1879-1929
......
T.....
-**♦■*<»
Sep’10
71%
71 Vi
Sale
69%
B.«19S9
25-yr deben 4s
1934
Cluo A L Su Div g 6a....1921
Ciuo A Mo Bit Div os...1926
Chic A P W lstg 5s
1921
Dak A Gt So g 5s
1916
Par a Sou assu
g 6s
1924
Lacrosse A D 1st 6s
.1919
Mineral Point Div 6s....l9lu
So Mum Div 1st 6s
1910
Wis A Minn Div g 6a....1921
Mil A No 1st M L 6S....191U
1st consol 6s.
1913
ihic ANorthw cons 7a.... 1915
Extension 4s
1886-1926
Begistered
1886-1926 P-A
General gold 3*38
1987
Begisiereu
.j>1987
....
• »*»
Oct ’10
95
72
66%......
4s series A..«1989
Begistered.
<1989
General g 3 *38
80
161
::::::
116
103
64%
96%
a*
•
113% *-eu’05
164%
General g
rtTt<¥
1
92%
Sep’10
88% Sale
1937
Ohio do mu v By 1st 5s.l936
lliioago A Erie bee Erie
!iuo Gt Western 1st 4s...1959
!U1C Ih do LOIUSV rei OS...1947
Betunuuig gold 5s
1947
LOUIST N A A Oil 1st 68.1916
Ihic Ind A Sou 50-yr 4s..1956
j.
....
63%
122%
01
87 %
Begistered.
....
93
128
63
75
Kilo A E ill ref A
imp g 4s 1955
1st oonsoi g 6s
1934
General consol 1st 5s.... 1937
64%
117
....
96%
Sep’09
96% J’ue’06
Oct ’10
69%
Joint bonds bee Great North
Debenture os
..1913
General 4s.
1958
Han A StJ os oonsoi 6a..1911
100
65
92
105
Oct *10 ...J
107
108% 16 2!
122%
102% saie 102% 103
56
104%
109% Sale 109
100% 70 lo4% 122%
68% Jan’lo
68% 98%
98 v, Peb’lO
98% 98 ^
69%...... 97 Apr’10
97
97%
63% 94% 03% Oct ’10 ...1 62
64%
96
100
Jan *09
97
71% Sale
Southwestern Div4s....1921
83%
67% 101
92
89
105
10U
63
...
sale
96% Sale
106%
60
98%
7^% 74
Ohio Burl A g—Den vD 4a 1922
Illinois Div 8%s..
1949
1949
Begistered....
Ills Div 4s
....1949
Iowa Div sink fund 6S..1919
Sinking fund 4a
1919
Nebraska Extension 4s. 1927
Begistered
.....1927
66
74
3
.
......
ltrl
90
05%
00%
....
Oct ’10
Sale
69% Sale
92
81
101
60
....
66% Jan’10
tv*
....
Begistered.
1992
Convertible 4 %a (wli is). 1930
Big banuy 1st 4a
1941
Coal Biv By 1st gu 4s ..1945
Craig Valley Istg 5s....1940
....
i
»
1939
1992
General gold 4%a
100%
100%
106%
Potts Creek Br 1st 4s..1946
163%
BAA DIV 1st OOB g 4S.. 1989
110
2 102
2d consol g 4s
103*8
19©9
9
Warm
96% 100%
Spr Val 1st g 6a.. 1941
20 101% 105
Greenbrier By lstgu g 4s *40
103% 103% Chic A Ait BB ref g 3s...1949
64% 96
Railway 1st Ban 3 %e... 1650
60% 90%
Begistered
i960
102%
96
......
111% 112% 112
4 116%
112%
113% 112% Jan 'lo
112%
101% Sale 101%
102% 51 69
102
101% J’ne’10
101%
93% Sale
63%
93% 548 89
89
86%
87
Apr’10
84% 89% 88%
83
88%
1
102%
104% Sep 'lo
101
....
102
-
....
High
....
....
....
101% 164 100
90%
99% 70 96
♦99% 99% 99%
6
60%
96%
108 *4 Sale 108%
108% 39 105%
102% 163
102% Sep’10
102%
168% 108% 108%
4 105%
10o%
162 % 103
—
....
pr ices on the b ant Of $5 to £.
101
Sale
96% Sale
....
......
102*s
67 % Oct’10
97% Oct ’10
•••««•
......
A
Adjosunent
!
97%
64%
64%
86% Oct ’10
*
binee
January l
....
94%
93%
1102
♦ 67
Range
Cent of Ga
KB—{Oonj
Ria
Atk Low
High No Low
Ciutt Div pur mou
g 4s.1951
OO
VI
Hao
A
NorDiv 1st g os.1946
100%
103%...„.
104% J;ne08
Mid Ga A Atl Div 6s.
162%
1947
116
103%
Nov’06
Mobile Div 1st g 6s
103
19*6
107
110
Jan’lo ..J'llO
102% Cen BB A B ol Ga col g 6s 1937
102% 103% 102 Sep’10
J 162
116% Cent of N J gen'i gold 5s. 1987
123
SaM 123
123% 22 126
115%
Begistered
41987
122
*a
125%
122% Sep *10 ...J 120%
Am Dock A
106% 100%
imp gu 6S..1921
106
168% 106 Sep ’10 ...Jil07
UU
f*
A Bud B gen gug 5s 1926
1!
......
Leh A WilksBCoaids..1912
100 % Sep ’10
166%
jluovi
13 95% 97%
Con ext guar
4%a....pl916
100
106
May’10
N Y A Long fir gen
g 4s 1941
65
*
23 94
96% Cent Pacino bee so Pacifio Co
23 93% 65% CentVermont 1st gu g
4s.«192U Q.p
89
87% Sep’lo
85
88*8 62% ChasAaav am Atl Coast Line
3 161% 164
Ches ib Ohio golu 6s
al9ll
*100
100
100
1 100
Gen funding A
U95
97%
impt 6s. 1929
104
106
102
Sep’10
1st oonsoi g 5s...
96% 99%
1939
....
•■■■••
t 94% Sale
\
or
Last bale
....
97*«
| 94% Sale
Weekfs
Range
....
100% 101*4 100% Aug’10
Imperial Japanese Governin't
Price
triaa y
Oct at
N. Y. STOCK EXCHANGE
W«xk Ending Oct 21
binee
High No Low
166%
J’ne’10.... 160%
Oct’10 ....'101%
Sep ’10
101%
J’ly’10 ....‘'162%
6
115%
114%
114%
Sep’10
101% 100% Oct ’10
all—“and interest” —sxespl for insoine and defaulted bonds.
art now
BONDS
Range
1
January 2
100%
100%
161%
101%
Foreign Gorsrnmrnt
Argentine—Internal 5s of 190911. B * 97% Sale
Sterling
If*
WeeVi
Ra nge or
Last bale
triday
Wbkk Ending oci 21
„
Exchange—Bond Record, Friday, Weekly and Yearly
of quoting bonds was ehanyed, and priest
!
Jtin,
/iDua
j’ly
fc Due Aug
.
.....
mi
••••••
68
80
70
oDae Oct
2
Apr'09
88 % 122
13
37<V
H/it
80
Aug’10
67% Oct'10
p
Dae Nov
96
......
——
t
99
......
83
89
31%
40
79%
83
74
65
Option Sale
/
Oct. 22
BONDS
$
N. T. STOCK EXCHANGE
Wkkr Ending oct 21
Ohio St P M A O—f Con)
CliStP A Minn lstg 6s 1918
Nor Wisconsin 1st os...1930
St P A S City 1st g 6s...1919
Chic A West Ind gen g 6s 91932
Consol 60-year 4s........1952
Chic A W Mich see Pere Marq
Choc O & Gulf 6MCUIAP
Cln H A D 2d gold 4 4s... 1937
Cln D A i 1st gn g 6s...l941
C Find A Ft W 1st go 4s r.»23
5
Cin I A W 1st gn g 4s,1953
Ind Deo A W 1st g 6S...1935
1st goer sold 6s
1936
CI St LA O fiMOOUASt L
Cln SAC ResCCCStL
Clear Held A Mah See HEAP
Cler Cm C A- St L gen g 4s 1993
Cairo Dir 1st gold 4S....1939
A-0
Ask
J-J
'884-1-1.
J-J
102
J-J
J-J
Registered.........fcl936
104
......
......
Oet’OO
106
Oct TO
02
864 Oct *10
102
Sep TO
107 4 Deo’02
1(H>4 96
8
07
.....
••••••
......
......
•
874
101*4 107
mam
•
......
......
•
944
06*«
90
•••
2
80*
^
^
< iray’s Pt Term
amma
•••«•*
ammaam
mmmmimm
mm mm. m
119
Aug’10
119
110
94
J’lj *08
••••••••
34
Dakota ext gold 6s....l910
Mont ext 1st gold 4a..l937
65
03
044
i
9&4
100
98
16
113 4
81*
Minn Union 1st g &..1922
Mont C 1st gu g 6s
1937
<
(
*•••
ibb
May’lO
....
1917
Registered
10-yr oony deb 4s
1016
1st lien eqmp g 4 4s ....1922
1st Are! 48
1043
AIDA bos cony 348.....1046
Bens A Saratoga 1st 7a. 1021
Del Biy BB Bridge See Pa HR
Deny A B Ur lat oon g 4s. 1936
Consol gold 4*88
1936
90
mmaaaa
marnrnmm
100
100
......
......
01*4
924
fe3Si
Mge and col trust 4sA 1049
Utah Cent latgug 4a al017
.
......
>
04
,
00
72
>
Registered
Series B.1953
Butt N Y A Erie 1st 7S..1016
Chic A Ene 1st gold 5s..l0b2
i,
Ule.v
Teraunallst gold 5s...1043
Regis 35,000 each...1043
WilkA Ea 1st gug 58.1042
....
mm+mmm
......
120
1204
85
......
64
064 10J
2 100
103
14 9641004
62
01
97 4
1234 1304
....
1
92* 97*
103*1044
....
100
....
20
106
90*
044
21
2
85
Jan’02
87*
044
83
86
Sep’04
Sep To
J’iy’10
Oct’io
02
89
74
74
1084 Sale
•••
•
72
1 106
1084
106 4
......
10641094 10?
4
04
88
mmam
07*
01
74
111
Mai'00
Oct TO
106 4
....
107*
1
1204 119
Oct TO
J’ne’lu
118.4 1224
1064 Mar TO
103
Mar’10
1UU4
1064 Jan TO
103 4
0/
004 Feb To
1204 118 Oct TO
86 4 Sale
864
364
86
81
Nov’u9
76 4
764 76
76 4
106* 106*
100
100 4
103
87 4
11
714 dale
87
76
)
}
100
11141124
1U8
H64
122 41244
1
1 tin Jo
J
*
85 4
87
76
71
100
•
103
mma
100
1034
10641064
09* 90*4
118
80*
18
118
874
99
v
J
'
80
764
834
87
64
66
83
734
....
'108 4
{ 09
104 4
....
J’neTO1....
1 80
103 4103 4
....
11004 Oct TO
1004 Deo’06
1074
114
T
“103 41034 Jan TO
85
67
114
i
\
M
3
53
714 156
Oct ’09
11D3
1004 lo3
1
30
Feb'07
87
764
1134 Mar’io!.... 111341134
1114 Sep TO1.... >110 115
121
Deo’U8 .... !!
1244 Sep TO .... 120 127
■1
80
5 lob
1084'
03
1084
04 4
044
074
964
103*4
ib*7*
100
08
1014
1004
,...1108*4 J’ne*o0
974
----
*.984
06
96 4
100
10O
96
96
98
Aug’10
1004 Oct *06
09*4 Jan *lo
09*4
114 4 FeO’10
1124
1264 127*4 125 Aug’10
1364 A»»>'O0
111
113*4 110 J’ly’io
116 J’ne'oO
112
89
89
113
99*4
1144
125
120
110" ii*3 4
Apr’10
874
15
1024
1024102*« 102*4
F-A
J-J
J-J
1061 J-J
1074 Apr *07
02
Aug,10
Col A H V
Col A Tol 1st ex 48
1955
J least E A W Tex See So Pac
J
1951 J-J
.1951 A-0
Extended 1st g 3 4s.
1st gold 3s sterling
1961
Coil Trust gold 4s...... JL952
Registered....
1st ref 4s
L N O A Tex gold 4s
104
87 4
90
044
1052**0
M-N
1053 M-N
1065
Middle Divreg5a
1921* F-A
Omaha Dlv 1st g 3s
.1961! F-A
St Louis DivAterm g 38.1051 J - J
Registered.....
1961 J-J
34s............... 1961'J-J
Registered.
1061 e-J
Gold
34s...l061> J-J
Western Lines 1st g 4s.. 1951F-A
Bellev A Car 1st 6s
1923 J-D
Carb A Shaw 1st g 4s...1932!W*S
Chic St LA N O g 60...1051 J-D
Registered
1951 J -D
Gold 348.....
1051 J-D
Meinph Diy 1st g4s...l061> J-g
St L Sou 1st gu g
ndBlA West SeeO C C A St L
994104
95** **0*6*4
J’ne’10
104
1054
00“ **02**
04
Sep *ou
03 4 May’00
«7
.
**- 8
A-O
Registered.....
1053 M-N
Cairo Bridge gold 4s
I960'J*D
LouisvDivATerm g3 48.1963 J - J
Spring Div lstg
93
100
125 41284
98*4 100
124 4 127*4 1264 J'lJ'AO
132
Apr *00
106*4 106*4 106*4 Oct *10
1004 Sep *08
05 4 May’10
094 sen*00
80
‘004
J ’ly *09
994 Oct *10
00
984 sale
0y*4
054 07 4
09
j'ue’uu
084
100*4
06** *004
09
0b 4 Sep 10
9/
May*o7
loo
Apr *09
87 4 May'lO
123
.uu^’00
97
4 1004
87 4
884
77*4 Mar'lu
79‘4 Dec *08
*7*74
77*4
89
Feb’lO
1014 oct ’90
'864IIIII 100 Nov’OO
Oct ’10
05
064
117 4 May’10
00
97
Feu’10
03
4
Sale 116
116
116
Mar’10
118
112
116
00
Oct ’09
07 4 Mar’lo
88*4
80
05
98
00
84 4
102
874
89
98
4s....l931|^-s
2dgold 5S
Trust Co certfs
1
1
05
.
U7S1174
.
00
09
114*4 119
US
9
<
118
97 4
*•„
J’ly’uS
98
05
May’lO.,.. 95
lo7 4 110*4
1074 107 4 dep *10
HO
May’lO
1064 112
iu3 4 44' 103
112*4
dale 103 4
l!
1014
106 4
60* Sep TO
6 105
105 4
J-J
1948 J-D
M-S
—-
3d gold 4s
1021 K-S
owa Central 1st gold
Os..1038 J-D
Gold 4s
.1951 M-S
1/aiAAGK See L, SAMS
(Van A Mich see Tol A O C
CCFtSAM See St L A S F
tCAMRAB See St L A S F
iLan C A Pacino See MEAT
impt6s Apr 1050
entucky cent see LAN
eok A Des Mo
noxviiie A Ohio
17
Sale
1044
72*4
734
73
10L
63
73
714
74
1014 Oct *10
084103
10841124
107
111
106 4 Mar’ 10
108
Mar’10
106 4 107 4
108 4112
105
107
103 4
97
105*4 J’ne’10
106*4 1084
Aug’oy
Oct’lO
114
J’ne’10
109 4 Dot ’90
108
Nov’00
114
105
107
97
1124 114
L14
106 4
03 4
102
100
no
05
......
074
115*«
03*
1014 Feb’lO
1014 &CP *09
1014
L014
112
112
Feb’lO
05
1
84
074
07 |
994 08
03
87
06
03*
864
93*4 Mar’ 10
112
....
101
1982 J-D
...1949 M-S
36
106*4
77 4
4
03
Oct '00
11041104 1104 Oct *10
U
on
17
102
J-J
_
Leroy A Caney Vai See Mo P
uong Dock see Rne
Long isi’d—1st con « 5s.*1931
1st oonsol gold 4s
*1931
General gold 4s
1938
Ferry gold44»
...1022 M-S
5a.UI.*.*Il934
17
104
734 Obt ’10
100
J-J
North Ohio 1st gu g 6s.. 1945'A-O
Sho A Mioh s see N Y Cent!
Leh Val N Y 1st gu g 4 4s. 1940 J - J
Registered
1940 J - J
Lehigh Vai (Paj cons g 4s.2003 M-N
Loll V Ter By 1st gu g 6S.1041 A-O
1941 A-O
Beglstered.
Leh V Coal Co 1st gug 58.1033 J-J
Leh AN Y 1st guar g 4s..1045 M-S
Registered
1945 M-S
BiCAN 1st pi 6s
1914 A-0
Gold guar os
1914'A-0
Leh A Hud B See cent 01N J
Leh A Wilkes b See Cent ol N J
Uallied gold 4s
Debenture goia
L7
104
73
A-O
See C B 1AP
Res So By
Lake
Erie os
A Wist g 5s.. 1937
2d gold
1041
103 4
|
Oct’lO....
93
Oct’lO1....
07
8U4 uct ’06
934 Mar’loL...
97*4
1004
....
J-D
‘1044
J-D
100*1034 101*
96
03 4
Dec’Obi
Next Page.
Cos and Electric Light
A-O
J-J
F-A
1909
Goia 4s
T0l4M.arT0.... 10141014
08
ioi
100
97
105
105
614 Oct ’01
Oct ’09
LUO
....
....
i
105
.....
98
1U2
Apr To
95* Sep ’08
.0T
.
.
101
Sep ’lu
Mar’lu
102
>
07
103
97
LOl
102 4 dale
mm*
.
»
00*
108*
102 •*
994 Oct TC
91
Apr TO
•
•••••
a
••••••#*„
loI
OL 4
67
ioi4
1054
NYGELHAPg 5S...1948
Purchase money g 4s... 1949
Ed El ill 1st 00118 g os..1005
N Y&QEL LAP 1st con g 5sl03b
N Y A Rich Gas 1st g os.1021
Pacific G A Elec Co Cal G A E
corp unifying A ref 5s D*37
F-A
J-J
F-A
d-K
M-N
Peo Gas A C 1st oon g
......
*
—
Due Jan
^
-
••*•••
6 Due Feb
d Due Apr
e Due May
ADueJ’iy
5
102
73
Bl*.
85*
1104111*. 1104 Oct TO
101
L004 ilar’lo
85* bale
0841034
87
80
1114
1004 1014
110
97 4J’iy ’00
102
91*
92 4
1164 Aug’10
L02
102
1024
1034
00
98
LOl4 Oot TO
044 Aug’00
1004 IOI Mar’ll
lOO
102
Sep’lb
98 Aug’lo
92 4 Sale
1164117
102
......
Aug’10
LOl 4
9941004
60*
io7»4
68.1043 A-0
Refuniiing gold 5s
1047 J-S
LOl 4 IU3*
Ch G-LACke 1st gu g 6s 1037 J-J
97
Con G Co of Ch 1st gug 5s.’3b J-D
07
am
Ind Nat Gas A Oil 30-yr 6s ’36 it-IS
101
ll 1104 115
Mu Fuel Gas 1st gu g oa. 1947 J-N
87 4 90
Philadelphia Co conv 6s ..1919 F-A
i LOO4105
Syracuse Lighting Utg 6s. *51 J-D
99 101
Trenton G A El 1st g 5s.. 1048 4-b
91
924 Union Elec LAP lstg6s. 1032 MS
Westchester Light’g g 6s.l05b J-D
ir
1134U5
il34
114
864 88* 90 * Mar’lu
No prioe Friday: latest bid and asked this week,
96
964 174
96*4 Oct *10
99 Sep *10
97
1999' J - J
1st CXt g 4S..1048 A-O *03" III'III
02
Bet A
120
)
KqG LN Y 1st con g 5S..1032 Jl-8
Gas A Elec Berg Co c g 5s. 1949 J-D
Gr Bap G LCo 1st g 6s...1915 F-A
Hudson Co Gas 1st g 5s.. 1040 VIS
Kan City (Mo) Gas 1st g 6s 1022 A-0
Kings Co El L A P g 5S...1037 A-O
Purchase money 6s
i907 A-O
Ed El li Bkn 1st oon g 4s 1039 j.j
Lac Gas Lot St L 1st g 5s.el0l8 G-F
Ref and ext 1st g.6s.....1034 AO
Milwaukee Gas L 1st 4s.. 1927 Vl-S
*
»J
_
lUISCKLIANEOUS BONDS—Continued
Newark Con Gas g 5s
J
City Sou 1st gold 3s..1050 A-O
Registered
.....1950 A-0
Dec '09
1
Gas and Electric Light
Atlanta G L Co lstg 5s...1947 J-D
Bkiyn U Gas 1st cou g 5s. 1945 A-*
Bufiaio Gas 1st g 5s
..1947
Columbus Gas 1st g 5s.... 1932
Detroit city Gas g 5s
10 2 o
Det Gas Co oon 1st g 5s..,191b
J
•van
113
107 4,
...
A M&hou Val g5a.l03b
Long Dock oonsol g 6s..1035
Coal A RR 1st cur gu 6s. 1022
Dock A imp 1st cur 6S..1013
N Y A Green L gu g 5a.l046
N Y Sus A W 1st ret 6s.i037
2d gold 44s
1937
General gold 5s
104u
1 113
Ilf
107 4 110 4
07 J4 101
....
924
02
86
07
110
94
......
2d 6s
1916
Dal Short lane See Nor Pao
Dal So Shore A Atl g 5s..1037
L'aatof Minn AssStPMAM
Ciast Ten Va A Ga See So Ry
Elgin Jol A East 1st g 6s.l941 M-NJ
Elm Uort A No See Leh A N Y
i
Erie 1st oonsol gold 7s....1920
*
NY A Ene 1st ext g 4s 1047
i
2d ext gold 6s
1010
S
3d ext gold 4 4s.
1023
>
4th ext goia 6s
1020
)
6th ext gold 4s
102b
>
NILE AW 1st g Id 7s. 1020
Erie 1st con g 4s prior.. 1006
do
96*8 Sale
87
....
1037
1006
1st oonsol gen hen g 4sl006
Registered
1006
Penn coil tr g 4s
1051
60-year conv 4j A ....1053
• •••
Feb’os
Dec ’00
Mar*08
78
85
see M A st L
Beglstered
10341114
112
1144
•••
....
......
98
Bio Gr Juno 1st gu g 5a. 1030
Bio Gr So 1st gold 4s. ..1040
Guaranteed
1040
Bio Gr West 1st g 4S....1030
DesMoi Un By 1st g6s..l0l7
Det A Mack 1st lien g 48.1005
Gold 4s
1005
Det So—O s Div 1st g 48.1041
Dal A iron Range 1st 5s.. 1037
•
044 sai«
944
944
1034 104 4 Mario
100
101
101
Sep TO
024 sale
024
924
Improvement gold 6s... 1928
1st A refunding 6s
1066
Dee Aloi A Ft D
108 4 Oct TO
1124 Sep TO
127
J’ne’06
86
94
Sep 'ou
116 4 Sale 1164
107
J’ly TO
ibo*4 90 Oct TO
Sb
1024 Feb’03
115
120
120
Oct TO
140
Aug’01
98 4 sale
984
984
1004101
1004 IO04
99
08*4 084 09
95
Sale
91
95
1224
1234 Sep TO
......
J’ly’09
884 02
84
CRAG
Registered...
111
j:E
07
Registered.
1084
1st ref gn g 3‘as.......2000
N Y Lack AW 1st 6s... 1021 J
Oonstrnction 6s
1923
Term A improve 4s.... 1023
96 4 100
J-J
Res
1st gold 34s
Del Lack A Western—
Morris A Essex 1st 7s... 1914
1st consol goar 7s.....1916
Beglstered
1916
Aug’10
Sep *10
M-N ♦100
1937 J
1st guar gold 6s
..1937 J
Will A S F 1st gold 6s 1038 J
aen brier By
See ChesAO
Beglstered.
974
1U4H4
«
J-D;
Beglstered
„1937 J-D
K Minn Nor Divl8tg4sl04S A-0
944
67
63
Oot TO
974
92
84
>
Reduced to gold 4 4s 1033 J-J
Registered...,.....1933, J-J
....
**!! *89
1921
St Paul M A Man 4s.... 1033
1st consol gold 6s
1933, J*J
Beglstered
1033 J-J
••«•••••
914 Oot TO
69
61
See St L S W
BAG coll tr 4s 1921 J-J
Beglstered. A
00
90
•• •
•
....
1124
87
1024
leorgia Pacific See So Ry
Ilia VGA Nor See So Pac Co
tour A Oswegat see N Y cent
Irand Rap A Ind see Penn RR
1054 1054
964 984
96
9«
103 108
....
mama
05 4
101
J’ne’Ob
86
J-J
J-J
vai Mar ASA
See So Pac Co
1 Yal H A H of 18821st 5s.l913 A-0
leorgia A Ala See sea A Line
la Car A Nor
See sea A Lone
mama
■mam m
70
HxgK
Deo'09
06
A-0
i
It Nor—C
....
••«.«•••
• mmm cm
116
Higfi A o Low
Oct ’00
101* 10L4 J’ne’10
114
Apr *05
A-O
71928
904 964
1094 Dec *09
mMn*t
116
108
86
••*
mama
Oct TC
108
••••••
••••••
110
101
January 1
L'argo A So See Oh M A St P
lint A PereM See Pere Mar
101
90
May’lO
1064 Fcb’10
964 AugT.O
96
Aug’10
......
1044
96*4
1044
Cln S A Cl oon lot g 6s. .1928
io64......
COCA! consol 7s......1914 j
4103
Consol sink fund 7s....1914 j
121
125
General consol gold 6s. 1934 j
Registered
1934 j
ind Bl A W 1st prer 4s. 1940
O Ind A W 1st pi 6s...itl938 •j
0i T 03
Peo A East 1st oon 4s... 1940
604 61
Income 4s.
1990
Cler A Marietta Set Penn BB
Olev A Pitts See Penn Co
70
724
Col Midland 1st g 4s
1947 j.j
054 964
Ooioradj A Son 1st g 4s...1929
074 Sale
Belnnd A ext 4 4*
1936
1134 Sale
Ft W A Den C 1st g 6S..1021
Oolnm A Greeny See So By
Col A Hock Val See Hook Val
OolATol See Hock Val
Ooi Conn A Term See N A W
Conn A Paa Biya 1st g 48.1943
J-J
A-0
......
Since
Is
Last sa>s
"
04
Oct ’07
Dec *09
93
01
05
90
1 irle A Pitts see Penn Co
1 Evans A T H 1st cons 6s.l9L,
1st general gold 6s
.1942
Mt Vernon 1st gold 6*..1023
Soil Co Branch 1st g 6s. 1930
•.W
944 Oct TO
944 Aug’U0
01 Sep TO
95
♦
108 4
mm..
105*
Range
u
Range or
Ask Low
114
Bid
J-J
•mm•mammmm
:
004
••••••
■
118
944 944
044
'
C i St D A C consol 6s..1920
1st gold 4s
lei 936
ib*6
-
1114 U44
H2
4
88
934
« •••
Week?i
Price
Friday
Oct 21
a
Low High
123
127
•it
•
S-2
N. Y. 8TOOK EXCHANGE
Wkkk Ending Dot 21
Since
January 1
No
•
BONDS
Range
#•••
92
02
93
i05
M-N
ll-N
Law
123
......
024
DIt 1st
avtWACol
1stgg4s...
4s.. 1940
1940
Val Dir
'
Oct 21
Last Bate
1-1
li
High
J’ly’lO
127 4) 1294 M«y*o0
1114 Aug’10
108 4 J‘ly’10
1084112
1990
Registered
Weesfs
Range or,
122
122
112
(»n WAN Dftr 1st g 4s. 1991
St L DIt 1st oot tr g 4s..1996
t
Price
Fridas
Bui
M-N
J-J
.
'
Record—Continued—Page 2
New York Bond
1910.1
103
100* 103
16
L10
96
004
101*1024 100
k Due Aug
May’05
Jan’os
J’neTb
q Due Deo
s
92
s * *
**T
-
90
am
01
1164119
1 1014104
15 1024 1044
■
L004 102
•
v*-
m m m
105
**»
....
u
101
09
08
*amr-
-
m
LOl
iOO
a
100
•
••••••
•
«
mmmam
100
Option Sale
1082
New York Bond
BONDS
N. Y. STOCK EXCHANGE
Wekk endin'*. Oct 21
Tea
Prioe
u
Friday
But
Guar ret gold 4s
.....1949 M-8
Louisv A Easily gen
Gold 5s.*.
Umtied gold 4s
r
Range
BONDS
Since
\January
N. Y. STOCK EXCHANGE
Week Ekdino oct 21
Hvgtx Ae
96%! 42
Ash Lou
96*4 Sale
Bklyn A Mont lstg 6s..1911 M-S
1st as
1911IW-8
•
Y BAM B 1st con
g 6s 1935* A-O
V N Y A R B 1st g 5s
1927 M-S
NorShBlstconggu5sol932 Q-J
Louisiana & Ark 1st g 58.1927 M-S
WeeVs
or
Last Sale
Range
Oct 21
Long Island—('Con;
--
Record—Continued—Page
96>«
Low
H igt
N Y Cent A H
94*4 100
Dec ’08
H0%Nov’06
105
Apr'07
101 %
103
101
101
93
96
Nov’06
Nov*09
109
97
115
-
•
...
1
07%
98
104
99
99
99*4
f
[
j
•!
Oct TO
96*4 99
27*2 317e
75
?
Mohawk A Mai
107*4 108
7l*« 75
100*2 J’ly TO
100T101
107
Oct TO.... 102*2 109
71
73*4 10 67*2 81*2
87
Mario..
87
9134
97*4
97*2
May’10.... 131
131
Jan’07....
97%Sep’loU
96*2 100
98% Jan’iow.
97*4 97 »4
84 Si sale
102
108%
8U*i Sale
86
Bale
80
.....
9778 Oct TO
86
88
114
98*2
12]
.
”4
86 *2
Apt '00
!
110
.
.
.
.
96
97
110*211-2*2
107
*2108*2
t
106
85*4
9034
loo
90
loo
106
.103
113
93*2
108*2
1U0 *a 105 Si
l05
107
75
89
91*2
86
yy°s
102*8
817g
96
96
87 *2
102*2 I02»a
121*2
114*2117*2
86*2 90
107
108*2
94*2
See Southern
96
6s..1923 J-J
Nash Pier A tthef See LAN
Nat Rys of Mexpr 14%s 1957
Guar gen 4s
1977
Nator Mex prior lien 4%s.l926
1st oonsol 4s......
1951
New HAD See N Y N H A fci
N J Jane BR See N Y Cent
N I Bkin A Man Boh See L1
N Y Cent A H Riv g 3*28.1997
»
Registered
1997
Dehen g 4s
1934
Lake Shore coil g 3 *as...l998
Registered
•
..1998
A-O
J-J
W3* Sale ! 9434
88*2 91*2 9ia4 Oct To
100*4 104
83*i
A-O
85
100»* Sep To
84*4 Sep TO
8108*2 110*4
108*2 110*2
..
13
....
....
93*2 953,
87*2 924
luu^ 102*4
....’! 82
Coal and Iron
• i os....1932 J-D
a 1926 M-S
SaS A Susq Iran
Debenture 6s
89*2 89*4
67
89*2
89*4
88*a 86*2 J’ly TO
6
947a
47
7
2
94*2 9® 1 94*2
81*2 81^ 81*2
80*2 Sale
80*2
8172
80*2
85
87*% 92
86<% 90%
95*%
79*2 82*2
92
78
co gen
80*2
06
93
44
70
83
101
90%
82%
83
ivr ioi %
103
.
107
103% 107
,
ioo” ioo”
-
Friday; latent bid
98%
09%
85
92
115
125
100
93*2 92
90*2 89 *2
100
91
88%
93 <% Sale
93 *« sale
110*2......
109
100
122%
120
98%
110
104
104
-
101% 102%
80% 91%
-•
1
Sep ’It
100
Oct TO
Oct TO
90
92%
88
y2
92
95 *4
93*4
100
93%
95%
l 107
J’ue’09
J’ne'oy
Feb’08
58
94
93**
93*s
111*2
93
66
102
92
95*4
uct ’07
Deo’09
130*2 Jan 09
1
107
J-J
M-S
109*4 113
110*2
108 *a
95
119
99
98
90
99
98*%
M-S
M-N
A-O
J -D
A-O
87 »4
89*2
91«»4
92*4
100% 100*2
U8-*«
87
90
89
92%
97% 100%
3
90%
101*2
99%
9u
15
13
99*4
92
99% 102%
96% 100%
134%
135% 95 130*4 135%
102% 143 96% 103*4
112% Oct TO
112% 116
T07
Aug’uy
162% sale
10i *4
112
lUO *4
>•
96*2
M-N
M-N
F-A
A-0
A-O
A-O
J-J
J-D
J-D
J -J
M-N
— .
nec’u9
90%
101
Sale
*99**
99
99*2 Oct Tu
100
99*a sale
135
110% L10*2r
J’ne ub
87
Apr TO
9l*% Oct TO
91*2
101
4
H0*2
J’ne’U6
Jau To
Dec ’09
100%
97
96%
96%
101*2 J’ne’oo
101
125
126
Mav’10
125% Sep TO
122*4 128
126
123
120 *2 125
99 *s 99%
iitti'iO
95
....
....
....
98
100
123
101%
126%
124% 126%
123
124*4
May TO
99*2 20 96 % 100
98%
97 Apr’lu
97
UY
5
92% 93T1 93*2
93-.
91
93*4
100% %>ale ;10U*2
101% 1310 94% 108 s
88*4 90 ! 88% Oct ’lU
86% 00%
106
Apr To
104% 106
93
96
li
96%
; 94
96%
....
....
....
1
100% Sale
100%
77 ! 99
100%
10
16
102%
98% 101
69%
6J
96%
72%
97%
99
99
74
116% 118%
Ti7
117
110
' [110
103
103%
'
96*2 9/%
..
......
110*2 110%
Oind AW See O C C A St L
J-D
Jpao oi
Coast
Co 1st gSee
os....1946
Missouri
Mo Pao I
and asked.
oDneJan 6DneFeb
....
__
Penn RR 1st real eat
g 48.1923 M-N
Consol goid 6s...
1919 M-S
Consol gold 48
1943 M-N;
Convertible g8%s.......1912
Converubie g 3%s
1915
Consol gold 4s
1948
Aileg Vai gen gn g 4s... 1942
D R R K A Bge 1st
gu 4s g.’36
Phiia Bal A W 1st g 48..1943
Sod Bay A So 1st g os...1924
U N J RR A Can gen4s.1944
Registered
Istg4%s.l921
1921
Goar
3%s coil trust reg. 1937
Guar3%sooii tr ser £...1941
Tr Co eertiTs gu
g 3%s.l9i6
Gu3%stretfsC
Gu 3%a tr ottsD
on
104
Sale
104
104
...101% 102
102% 108%
Aug’10
102
103%
109% Jan ’UJi
1023* Get TJi""” 102% 106
M-N; 99% Sale
99
99%' 47 I 98% 102
J-D
"
06% bale ' 96
9*i%i48|04% 97%
MX 103%
102% 103% 32 101% 104%
M-S
100
Out To
102*4 102%
F-A'
94
::::
M-N 10L34
103% L*ec’09
J-J
100
102
Jan’03
1
M-S
103% May TO
103
104
J-J 103
104% 104%
104%; 1 103 106
J-J 162
10334 Feb’10
103% 103*4
M-S
88%
90
I 00
Aug TO
90
F-A
88*4 90
89% Got 10 ...J 88
91%
M-M
97% 08% 97*a
87 %l
2
05*4 97%
J-D
106
110
.
....
....
1942
1944 J-D
88%
89%
87
80%
91
AagT0...J
D<
ieo’09 ....I
87
90
Next Page
Maimlactariag 6s, Industrial
^
•No prioe
’09
107
Jan *08
J’ue’iO
1102 *s Feb TO
| 84*2
64-.
..
SONDS—■Continued
96
83
99% Nov’09
04
Deo’00
sig 5e..l945 F-A
101
98% 90
Sep To
Convertible deb g 5s....1011 FA
08%
96%
J’ne’lo
boi IndalstA coll 5s ga..l834 F-A
80
79
79%
DonUn’taiCTstsl guosg.l86z F-A ’*79%
107% Dec'04
$T Riv Coal A C 1st
g 6s..1919 A-O
90
100
102% Apr’06
left A Clear C A 1 let g 6*.192* j-dJ
107
May*9?
Kan A H C A C 1st s t g 5s. 1961 j-j
ioo”
lllZ,
106%
Dec ’06
boeah Con Collier lets f 5a’57 j-j
88
J’neTO
londayCreec Co g 6s....1944 j j
7S
Feb’07
fcena Ceai gen 5s
....1961 j-j
101
103 .102 Sep To
; Peon Div 1st g 6s
ol917 A-0 104% 106
Oet TO
[. Bins Dtv 1st cease! 6s.. 1917 J-J 104% 106 104%
104
Sep TO
Hfefc C M Ce 1st gu g 6S.1922 J -D 196
110
Jan’Oe
Me BarC A 1 Co
gu g 6s. 1910 F-A
100
Jan 1*)
fictor Fnel 1st s t 6e
1968 J J *
56% 87
galrsn Goal AOolst g 6s.1949 M-S 99 Sale 99 Ang’09
99
m a 1
98*4
Oct '09
1997 <$-j
100
99% 10u% 100
a2047
71 % =aie
71%
7i%
Registered
a2047
70
70%
Sep
TO
St Paai-Dul Div
g 4s. ...1996
96
97
MarTO
Dni short L Istgn 5s.. 1916 M-S
Feb TO
99
99%
CBAqcoiltr4s *««GtNor
St P A N P gen
g 6s....1923 F-A 116
116% Sep TO
Registered certiiio’s..l923 Q-F 1L2
1W
Feb TO
St Paul A Dili 1st 5s
1931 F-A
107%
..llo
J’ne’lo
2d 6s
1917 A-O *103
..103
Oct TO
1st consol gold4s......1968 J-D
93
96%Apr’10
Wash Cent 1st g4s
1948 Q-M
1 92% Jau’09
92
Nor Pao .Ter Co 1st
6s..1933
g
J-J 110*2
110% Aug’lO
Nor Ky Cat see So Pao
Nor wis see C St P M A O
Nor A Mont See N Y Cent
Penn co—Guar
J-J
J-J
M-N
F-A
F-A
IHISOELL iKEObS
Dai
84*2
J-J
A-0
J-J
J*J
ac
106*2
106*s 106*2
109*8 110*8 110 Oct TO
116-2
116*2 May’07
109
117*4 Mar'05
108*2
113
J’ly’04
I-J
t
-
Aug’10
96% Oct ’io
General Hen goid 3s
_
St L5s1st 7S.1913
Nash
Chat Agold
J-J
1st consol
1928 A-o
g
97
96
J-J
year conv 4s
1932
Pocah C A C joint4s..1941
C C A T 1st gu g 5s
1922
Scio VANE 1st
gu g 4s 1989
North Illinois see Chi A N
W,
North Ohio See L Erie A W
l
Nor Pao—Prior lien
g 4s.. 1997 Q J
79%
97
I110 Riv RR See bait A O
Ore A Cai See So Pao Co
Ore short Line See Un Pao
Oswego A Rome See NYC
see B A O
Jasper Branch 1st
1096
82%
79%
oct *02
T31*a Jan
M-N
Registered
110
Mar’od.
99
May’10.
98
100:V
110
Sep TO.
110
113
107 «8
107*4 14 105*2 110
111
Sep *09,
85*2
95*8
81
86
86*4
85*2
8234 «7 34
115
g
Rign
78
....
106*2 110*4 1UY
106*2 105
113
il04
4s..pl992 M-S
M-S
DlvTlstlAgeng4s...l944
10-25
102*4
99*8
100
95 7a
F-A
Y A Green w Lake
see Erie
Y A Har see N Y
C A Hud
Y Lack AW See D
LAW
Y L E A W See Erie
Y A Long Br See Cent of N
J
N Y N H A H—Conv
6s.. 1948 J-J
Conv deben 3*28
1956 J-J
Hoosatomc R con g 6s.. 1937 M-N
N H A Derby con
cy 68.1918 M-N
N Y A North See N Y
C A il
N Y O A W ref
lstg
pl992
N Y A Put See N Y C
A H
N Y A R B See
Long island
N Y S A W See Erie
N Y Tex AM see 60
Pao Co
Nor A South 1st
g 6s
1941
Nort A West gen g
1931
6s
improvemt A extg 6s..1934
New River lst g 6s
1932
N A W By 1st oon
4s. 1996
Low
1
....
987s J’ne’10
A O
J-D
West Shore 1st4s
gu...2361 J-J
Registered
2361 J-J
Registered
108
111
100
N
N
N
N
N
Since
January J
High.
105
93
108
A-0
1937 A-O
1931 M-N
4s
Regis 85,000 only
.
78*2
83*a
17
110*2
106%10734 108*2 Sep 'IO-.
104*8 106*4 i047a Sep TO
109
llo *4 Apr’oy.
109
105
Sep TO.
107
113
110
Oct TO.
101 *e 101 »s 101*2
101*8
»9ag Mar* lo
i‘06%102 101 TSeP *10
78*4 7b34 78*4
98% 9534 Nov’09
9334 Salt
93*2
93j4 261
92*2 93 *c 91 *2
TO
84% bo** 87 *2May’lO
M-S
F-A
M- S
M-N
M S
F -A
J*D
82
100
,
J’ne’10.
**1
98*2
96*2 100
87*4
.
84 *2
e4^
loa** Sep '10
80S, - ei*2
106*2
105
897a 92*a 91
110
M-S
McM. M W A A11st 6s.. 1917 J-J
.TAP Branch 1st 6S....1917 J-J
i
'
181
118
Mont cent See btf MAM
Morgan's La A T See S P Co
Morris A Essex See Del LAW
•
1951
lstg 3*28
1952
2o-year deb 4s
.'...1929
Bat c a Slur 1st
gu g 3S.1989
N Y Chic A St L 1st
g4s 1937
Range
s
97*a Apr ’09
A-O
A-O
1931 Q-M
1940 J-J
1940 J-J
Registered
iuo"
NesN 1 C A ii
Bionongaheia Riv
Registered
J L A S 1st g 3*28
77
100 "
log-*,
J-J
86
85
M-N
85*4
M-S
102*2 Jan To.
J-J
98
Dec’06
J *D1 117*2 iai" 117*2 Oct TO *
114*2
S'"1
117*2 114*2 Sep TO ‘
b6
M-S
90
86 *2 Sep ’ 10 *
MontgomDiv lstg6s..1947 F-A 109*2 110 I08*a Oct TO
^
St L A Cairo coU g 4s..el03u Q*F
80
75
May’08.
Guaranteed g 4s
1931 J-J
94
96
94*a
Oct
'Ik
M A o coil 4s
!
99 78
130
11L
Unified A ref gold 4s..l929
RlV A G DlV 1st g4s.,1033
Verdi V 1A W 1st g 6s.l920
MobJ AK Cist cons g 6s. 1953
Mob A Ohio new gold 6s..1927
1st extension gold 6s..A1927
: General
goid 4s
....1938
;
94 7g
Mahon CT RR 1st 5s..1934
Pitts A L Erie 2d
g 5s.al928
Pitta MoK A Y 1st
gu 68.1932
2d guar 6s
1934
McKees A B V lstg 6s 1918
Mich Cent 5s
...1931
2
o o
80
80
79 % Aug’10
yd
Oct to
102
Alai ’04
J -f>
J-D
M-S
F-A
M-N
Registered
1997 J-D
Debenture g 4s
1928 M-S
25-year g 4s
1931 M-N
Ka A AG Klstgu 058.1938
J-J
4s
25 *2 Apr'09
77
MarTO
80
Feh’08
100
May’lO
92
J-J
f
* *A
J-J
8tLIrMASgencong6sl031 A-0
Gen oon stamp gtdg 6s 1931 A-0
,
98*4
....
'
j
1
93
Ask Low
81%
gold 6s
1996 A-O
Utica A Blk Riv
4s.1922 J-J
Lake Shore gold gug
8 *2S. ...1997 J -D
Registered.
Debentures
’
L
S9
97% 20
Apr’06....
99*8 21
3i%May’ 10
♦26
76
'
r
97*2
Bia
3 %s....l998 F-A
1998 F-A
gn g 4s.lU36 J • J
1936 J-J
gu gold 5s..J
7.1936 J-J
105%
.
973«
A—(Con)
_2d
....
Trust gold 5s stamped.al917
Registered
ol917
IstcoU gold 6s
1920
40-year gold loan 4s
1946
3d 7s extd at 4%
1938
1st A ref conv 5s
1962
Cent Br Ky 1st gu g 48.1919
Cen Branch U Plstg4a. 194^
LeroyAC VALlstg5s 1926
Pao K of Mo 1st ex g 4a. 1938
2d extended goid 5s...1938
lxxxxt.
Last Sale
”96% llllY.
....
96
Oct 21
M
...
A-0
Registered..
1990 A-0
Stmpd tax exempt..1990 A-0
AfcK’pt da B V See hi X Cent
Bex Cent cons g 4s.......1911 J-J
1st cons me g 3s
al939 J’ly
2d cons inc g 3s trust recta..
Ilex internat 1st con g 48.1977 M-S
Stamped guaranteed... .1977 M-S
Mex North 1st gold 6s....1910 J-D
Mich Cent See N Y Cent
Mid ot N J
See Erie
Mil L S A W See Ohio A N W
MU A North See Oh M A St P
Minn A St L 1st goid 7s.. 1927 J-D
Paciho Ex 1st goid 6a...1921 A-0
f South West Ex lstg 7s.l910 J-O
1st consol goid 5s
1934 M-N
r 1st and refund gold
4s.. 1949 fM-S
Des M A Ft D 1st gu 4s...’36 J-J
Minn <& St 1. gu See a C R A N
MStP A SSM cong4intgu’38
li S S M A A 1st g 4 int
gu 1926
Minn On See St P M AM
Mo Kan A Tex 1st g 4s...1996 J-D
2d gold 4s..
g j.990 F-A
1
1st ext gold 5s
1944 M-N
*
1st A refund 4s
2004 M-S
'*
Gen s f 4%s
1936 J-J
f St L Div 1st ref g 4s....2001 A-0
:
Dal A Wa 1st gu g 5s...1940 M-N
Kan C A Pao 1st g 4s...1990 F-A
Mo K A E 1st gu g os...1942 A-O
M K A Ok 1st gu 5s
1942fM-N
*
M K «fc Tol T 1st
gug68.1942 M-S
SherShA bo 1st gug 58.1943 J-0
! Tex A Okia 1st
gug 5s...1943 M-S
Mo Pacific 1st eon g6s ...1920 M-N
Range or
OgALCham lstgu4s gl948 J-J
But-Canad 1st gu g 48.1949 J - J
St Law A Adir
lstg os. 1996 J-J
2d
•
CoalKySec
L S 4s.
S
Mahon
A M1990
anhattan
consol
Week's
Friday
Registered
Beech Creek 1st
Registered
R WAOcon
lstext6s. A1922
Oswe A R 2d gu
g 5s...*1915
R W A O T K 1st
gu
58.1918
Rutland 1st con g 4g*28..
1941
.
....
Price
^
|
n3'
Dart A Ad 1st gu
g 4s...1981
Gout a Os we 1 at
gu g 5s 1942
Moh A Mai 1st gu
g 4s..1991
N J J one R gu 1st
4s...l9S6
N Y A Harlem
g 3*23...2000
N Y A North 1st
N Y A Pu 1st con g 5s... 1927
gu g 4s 1993
Nor A Mont 1st
gng 58.1916
Pine Creek
reg guar 6s. 1932
6s.l930 J -D 114%U6
Sep TO
112*4 116*4
113
1937 M-N
112*2 Sep TO
112*2 114
98
1940 J*J
Sale
98
98% 62 96*8 100*2
Registered....
1940 J-J
100
May’00
Sinkluno gold 6s
1910 A-0
100*2 Dec’09
OoU trust gold 5s...1931 M-N
108
107*2 Sep To
107
110
; E H A Nasil 1st« 6S....IO10 J-D 109*4
112
J’jy'io
111*4 112
L Cm A Lex gold 4 *28. ..1931 M-N
105
Sale 105
105
103
106
1 .v O & Al ist
121
.....
gout 6s.... 1930 J-J
124
MarTO
124
126*4
N O A M 2d gold 6s
1930 J-J
120
Jan *09
Pensacola Div gold6s... 1920 M-S 105*4 111
107%
MarTO
107*4 i 10*4
>
St 1. l>iv 1st
goid 6s
1921 M-S 113*8
113
Sep TO.
113
114
2.1 gold Os
68
I960 M-S
71
May’O0
Ati Knox A Cm div 4s.. 1955 M-N
95*2 93H. Sep TO .
91
96*2
au Knox A Nor 1st
116
101% ...
g 5s 1946 J-°
J’*y 06
Bender Bdge 1st s i g6s. 1931 M-S 103
110
Jan
’09.
'■
95
Kentucky Cent gold 4b.. 1987 J-J
96*2 95*4
95*2 20 94*4 97*2
LA X A Jvl A jVI 1st g 4 %s 1945 M-S 102
105*8 102 Sep TO .
102
105 *2
r LA 2s-South M joint 4s. 1962 J-J
9U34 90*4 -9034l
89*2 92
t N Fla Aa 1st gug 5s... 1937 F*A 108
106*4 Aug’10
1
106*4 111
N AC Bdgegengu g4%s 1045 J* J
93
! Pens A At! 1st gu g 6s..1921 F-A 110*4
110*4
110*4!
110*4 U0*s
SAN Ala con gu g 5s.. 1936 F*A
109*2 114
109*a J’ly’10
109*2 114
La Jed Bdge Co gug 4s.. 1945 M-S
92
9u *« Sep TO
88*2 90*4
L X A A Ch See C I * L
g
!«|
Mich cent coU
g
i
-
[Von.
3
is
94%
e
ioo
Allls-Chalmers 1st 6s..... 1036 J-J
Am Ag chem 1st c 6s
1828 A-O
Am cot Oil ext 4%s
1016 q-F
Am Hide A L 1st s f
g 6s.. 1910 Jt-S
Amer Ice beeur deb g 6s..1925 A-G
Am Spirits Mlg 1st g 6s.. 1915 M-S
ass Thread 1st eel tr 4a..1919
Am Tobacco 40-yr g
1944
6s.
4a
...1951
3eth Steel 1st ext sf 6s..l9kt>
lent Leather 20-year
g 5a 192 6
Jons 1 Tobacco g 4a
1961
Corn Prod Ref s f g 5a....1934
1st 26-year si 6s
1934
J-J
A-O
FA
w-J
A-O
F-A
■AN
M-N
79% 79
102% 8ale
93
04
08%
Sals
68% 72
07
101
91% 03
106% Sale
80% sale
86
Sale
99%
78% 82
96
mr .
94%
Cnban-AmerSugareelltr5aT8( 4-0
e-o
Distil 3ee Cor oonr 1st
g 6s.’27 AO
*78”
EI duPoat Powder 4%s..I93«l JJ>
j-d{ 84
Due May g Dna J’ne h Due
J’ly A; Due Aug
0
DaeOot
n
rpr.
97
97
Sale
88
79
78%
102% 102%
08% Oct TO
04
63
46
93%
04%
Sep TO
101
03
106
72
4 100
4
T
101
93
8
t
92
67
94
80
84%
103
08%
102
78%
101
93
109
106% 106 104%
80%
80% l8\
76% 85%
86
84%
8i
82% 89
09%
97
90% 0v
102
80%Oct ’10
76% 83%
96
06
96
04%
96% JTjr’io
7»
85
Due Not
2
20
93
93%
JTyTOjk~l l*»
Due Dee
M%
97
74
«
97
/Flat.
74%
88
Oot. 22
New York Bond Record—Page
1910.]
BONDS
Hid
Pennsylvania Co—(Con)
Guar 16-25 year g
Week?)
Price
♦97**
100*4
103*2
103*9.
4s—1931
Cl A Mar 1st gu g 4 *28..1935
Cl A P gen gu g 4 His ser A.’42
Series B
1942
Series C 3*as
1948
Series D 3
1950
Erie* Pittsgug3*as B.1940
Series C
1940
Gr H * 1 ex 1st gu k 4 *?s1041
Pitts Ft W A C 1st 7s... 1912
2d7e
.1912
3d 7s
A1012
Pitts YA Ash 1st eon 5s. 1027
PCC A St Lgu4*a* A...104O
Series B guar
1942
Series C guar
1942
Series I) 4s guar
1945
Senes E 3Hj guar g,...1949
Series F 4s guar
1953
C St L A P 1st con g 5s.1932
Pensacola * Atl See L A Nasii
Peo * East See C (5 O A St L
Peo etr. Pek Uu 1st g Os....1921
2«« koI'I 4 Hja.....
01921
Pere Marquette—Ref 4s..1955
Ch * W M us
1921
Flint * P M g Os
1920
1st consol gold 5s
1939
Pt Huron l)iv 1st g 6s. 1930
Range
S®
Range or
Friday
Oct n *
N. Y. STOCK EXCHANGE
Wekk ENmufl OCT 21
Since
Last Sale
Akk Lots
98
110
High
Oct ’10
January 1
JVol Low High
94*a 99
Aug’09
May’OS
92 *s
Sep ’10
92*8
98*4 Apr’04
104*< 106*8 104*9 Oct ’09
104*9
104*9 Oct’10
104*9
1048® Aug’lU
107
Oct ’08
104*4....
109
107
May’10
VO
Mem Div 1st g
90
104*2 106
....
104°* 105’*
....
107
107**
103*2 107*4
lOrt *2106*2
92 *9
107
Oct’10
107
Oct'10
196*9
’10
08**
98*9
94 J’ly’10
97*8
113*4
112*a Sep ’10
111*2112*2
98*9 Salt
Feb’10
100
Sep ’10
71*4
77*9 71
100
101
Sep’10
108*2 Sep ’lo
108*4
103*9 101
Aug’10
105
05
70
ib'5*
97*4
98*4
94
94
101
101
see Penn UK
Philippine Ry 1st 30-yr si4s’37 J.j
Pitts
Pitts
Pitts
Pitts
Pitts
Cm & St Li See Penn Co
Clove A Tol bee B * O
Ft W <fc Ch See Penn Co
McKees * Y See N Y Cen
Sh A L E 1st g os...1940
1st consol gold 5s
see B A o
CV Begistered.
g
Jersey Cent coll
101
106
88
90
1943
98*4 Sale
98*8
1997
1997
4s...1951
112
112
May’10
937e J 'ly ’97
112
4s
g
89*9 J’lY’10
89
98*4
97 »„
97**
99*4
99 *t»
Sep ’10
97*5
97
95
95
75
112
100
98*4
98*4
* H
See Pere Marq
General gold 58
1931
8t L * S F RR cons g 4s..’90
Gen 15-20 yr 5s
1927
Southw Riv 1st g 6s..1947
Refunding g 4s
1951
K.0 FtS * M Cong 08..1928
K C Ft S * M Ry ref g 4s 1930
K C * M R * B 1st gu 58.1929
Oz’rk * Ch C 1st gu 5s g.1913
8t Louis So bee Illinois Cent
8t L S W 1st g 4s bd otfs.1989
2d g 4s mo bond otfs...pl989
Consol gold 4s
1932
1925 J-J
1921 M-S
1926 M-S
1936 M-N
Guar stamped.......1936
WOAW 1st cy gu 4s..1924
WestN C 1st con g 6s..1914
S A N Ala See LAN
Tex 6X0 See So Pao Co
Tex A Pao 1st gold 6s
2000
2d gold lno 5s
J2000
La Riv B L 1st g 6s
1931
W Min W A Nff 1st gu 5s ’30
Toi A O C 1st g 5s
1935
Western Riv 1st g 5s...1935
J-R
88*4
96
89
Oct TO
89
—
94
'
105*8
91*2
90*2
80
92
81*a
76*4 Sale
80
95
......
911*
80
7»34
101** Apr’07
76*4
88
79
93*8
18
20
72*2
79-,
37!
82
BtP Minn* Man i<eGtNor
at P * N or Pao
See N or Pac
3tP* S’xCitv See C St P M *C
8 A* A Pass lstgug 4s...1943
8 P * N P 1st sink f g ds.1919
3&v F * West
See Atl Coast L
Scioto Vai * N K See xNor * W
AO
Seaboard A L g 4s stamped ’50 —
~
Coll tr refund g 6s
1911 M-N
Adjustment 6s
AU-Birm 30-yrlst
ol949:F-A
g 4s.«l033 M-S
Car Cent 1st con g 4s.. 11949 J-J
Fla Cen A Pen lBt g 6s. 1918 J-J
1st land gr ext g 5s ...1930 J-J
Consol gold 5s
1943 J-J
Ga A Ala Ry 1st con 5s o 1946 J-J
Ga Car A No lstgug 5s 1929 J-J
Seab A Boa 1st 5s
1926 J-J
Sher Shr A So See M K A T
Sil Sp oca & G see Atl Coast L
Southern Paorttc CoGold 48 (Cent Pao coll).it1949 J -R
J-R
M-S
F-A
F-A
J-R
A-0
GHABAHAP 1st 6s.. 1931 M-N
Gila VG<&N lst gug6s,1924 M-N
Hous E A W T 1st g 68.1933
1st guar 5s red
1933
a& TClstg6smtgu..l937
Consol g 6s mt guar...1912
Gen gold 4s mt guar..1921
Waco A N W tliv 1st g 6s ’30
A * N W 1st gu g 6s....1941
M-N
M-N
J-J
A-O
A-0
M-N
J •J
Morgan’s La A T 1st ?s,191S A- o
1st gold 6s
,...1920 J-J
No of Cal guar g 6s......1938 A-O
Ore A Oai lst guar g &S.1927 J • J
So Pao of Cai—6s E Si F.1912 A-O
1st gold 6s
1912 A-O
1st con guar g 5s
1937 M-N
SPacoXN M ex 1st g 6s..1911 J * J
So Pao Coast Istgu4sg.l937 J-J
TexAN OSabRivlst gOs.1012 M-S
Con gold 5s
1943! J - J
86 Sale
98*4
86
86*4
104
Oct ’09
86 *« Sale
99’* 100
85 *«
71*4 Sals
70*a
84*4
91
103
101*4
101*4
101**
103 **
104
106
Sale
99
OCt ’10
Aug’lU
Apr’lo
91*2
Sale
99
87 ** Sale
97
03
68
01
6
93
Feb’lQ
28
00*2
10
00*4
90
89
02
j’ne’lo
105*4 108*a 109 Sep '10
104*4 Sep ’09
103 *» 105*4 106 *4 May’oy
101
106
103*4 Aug’lo
110
110*2 110
liO
109*4110** 109*2Nov’09
93
96*s 92
Aug 10
lid
118
119*4 Mar'lu
102
107*2 Jai* 09
117
122 *s Aug’08
1.10
116
*e*’06
76*4
80
91
87
103
103
91*2
....
104\
106
95
91
92*4 106*4
89
86
98*4
97
94*2
97
87*2
91*8
90*2
94
103’t 109
103*4 106*8
109 *2
110*2
98*4
92
119*4 119*4
1939
1939
105
107a4
ibT* ib*4*‘
8
91
106*2 107^
..
Dec’09
Feb’10,
[.IfoT*
‘of*
..'105 *2 l06*«
lo6*eMayTo
l063« Sep ’09'... jl
107*% Apr’10 *... 107^107*2
109
Aug’10.... 109 116*2
106
106
104
108
98»*O0t TO ....!j 96
May TO.... 109
108*4 109
98*2
109**
109
Ul*s 10 108*2 112**
70
70
70
Mar’io
---•«.
98®b .... 103 Sep ’09 •***!
106*2 Nov’04
106
112*2
107*2 109*2 108 Sep TO
110*4-.-
11034
66
......
105
’09
Aug’10
112
99
101*2
Sep
...
89
9S34
91*fe
88
76
82
81
86*4
--
107
87
lul1* sale
103
84
93
87
77
81
89
103
86
Au^TO
81
J’ne’iO
J’ne’10
cob ’u9
j
09
1
I
li
00*202
87
70
80*2
1
1047*
04*4
03*2
00
81
86*4
91’
87*4
... •
i 100
106 1
1
003, 102
101*2
100
5
98 *2 10 L*2
saio
100
105*2 395 101
116a4
lOo^a i=uic 1104*4
9 < *a Sale
97
98**
9/*4| 42 95
96*2 97*2 96’s Oct TO!
! 9434 98*2
116
116*2116*4 Oct T0|...J Li 3 *4 117
112
108*4 H3\
112*2 112a4
11234
93 *4
93*4 sale
947*
94 116 91
Jan’u9
94
103
107 ** Deo’09
233
100
See South Ry
Wabash
1st5sgold 5s
2d gold
2 105*2 106*4
..
A-0
M-N
F-A
Debenture senes B
1939 J-J
1st lien equip s fd g 6s..1921 M-S
1st lien 50 yr g term 4S.1954 J-J
1st ref and ext g 4s .... 1956 J-J
Ret A Ch Ext 1st g 6s..1941 J-J
Res Mom Riv 1st g 4s..1939 J-J
Om Riv 1st g 3*as
1941 A-O
Toi A Ch Riv 1st g 4s... 1941 M-S
Wab Pitts Term 1st g 4s. 1964 J-R
Trust Co certta
2d gold 48
1954 J-R
Trust Co certis
Warren see Del Lac A West
Wash Cent See N or Pao
Wash O A W See Southern
Wash Terml 1st gu 3 *2S.. 1945 F-A
West Maryland 1st g 4s...1952 A-O
Gen A conv g 4s
1952 A-O
Trust Cocertfs
W Va Cent A P 1st g 6s 1911 J
West N Y A Pa 1st g 6S..1937 J
Gen gold 4s
1943 A-0
Income 5s
,.<11943 Nov
West No Car See south Ry
Wheel’s A L E 1st g 6s...1926 A-O
Wheel Riv 1st goal 6s.. 1928 J-J
Exten A Imp gold 6s...1930 F
RR 1st consol 4s.,
1949 M
20-year equip s f 5s ...1922 J-J
Wilkes A East See Erie
WU A Sioux F See St P M A M
W is Cent 60-yr 1st gen 4s 1949 J
SupA Dui div& term 1st 4s’ 36 M-N
98
96
105
Nov’08
Apr’10
105
J’ly TO
TO
109*8 Oct >lu
99*2
99 *2
86
j’ly TO
110*u 105
94*2 95
lUba4 HO
99*2 100
ioO
......
86
90
65 *2 Sale
105*8
76
83
77
*40°®
45a4 Sale
7a4 sale
sale
8
94
10/
98
86
100
90
94 *2 CCt
08 a4 loo
J’ne’iu
Mar’lu
65*8
113*4
103^2
56*4
65*8 450
8
6*2
7/|
6
'276
868*
207
86
102
90
77**
107a4
77
00
52*2
54
11**
12*2
4
4
00*2
88*2
....
....
110*4 111
87
110
Jue
86 *2 Sep 1
34
Feb
105
Oct
lOU’a .....Jlo3*2
73
<1
68*a 74*»
100*4 H0a4
86*2 02
....
10134 105**
3 103*2 104
102
00
87*4
77
45
1 lo‘2
84
98*2
82*4 8634
....
....
101*2....
86
108
98*a
105
J’ly TO.... 105
83
Reo’uu
72*2
74 *8 Sep To
i 83
83
Sep TO
i'll 33
43*4
32
46 1320
42*a
88
89*2
86 s® Sale
100
85
96
96
90
03 *2 Sale
03*2
927* 93*2
93
54
03
2
90
00
95
04
80**
03
95
99
05»4
00
Telegraph and Telephone
Feb’07
112
100
J’ne'io
lOiHjJ’^Ob
101*4
114*a Luo ’04
101*4
116
May’07
107*4
100*4 100*8 Oot’10
93
90
84
J’iy'09
1017* 102*2 1017s May’10
102 Nov*09
100*8
100
69*2
104
106
9934 418
97
86’$
100*«
100*4 100*,
104*2
104
J’ly’io
Apr’10
92*2
00*2
06 7a
88*4
81*2
100*4 May’10
104^2 Mar’10
103*9
104’*
93
83*2
86'* 163
99’*
7
71*4 349
99’*
86
91
17
.
86
Va A Southw’t 1st gu ds.2003 J-J
50-year 5s......1958
110
114*2
106
111*8 U3a4
113*4 Sep ’10
114
Sep’O.... 114 114*2
116*8 Apr’06
104
Utah A Nor gold 68—1926 J-J
Uni N j BR A CCo See Pa RR
Utah Central See Rio Gr Wes
Utah cfc North See Un Paciho
Utica A Black R See N Y Cent
andalia consol g 4s ....1955 F-A
era Cruz APlpt gu 4 *281934 J-J
Ver Vai Ind A W see Mo P
1st cons
....
106
Oct *10
109
Feb’10 ....! 106
Nov’09
107
4s...1947 J-J
1947 J-J
1927 J-J
1st A ref 4s
02008 M- S
Ore Ry A Nav con g 4s.1946 J -D
Ore Short Line 1stg6s.. 1922 F-A
1st consol g 5s
1946 J - J
Virginia Mid
J’ne’OO
Feb’10
I...
......
Registered
20-yr conv 4s....
1929 J -D
109
110
93*s
!!
i
J -D
1929 J-D
—
X nv’ili?
• 82
71
Nov’OS
105*2 107*2 105*2
105*2
104*8
105 V May* 10
71
' 76
Oct ’08
102
103*4
103*4
105*,
112
Oct’06
103*%
108*2 Dec’06
106“b
107a4 Reo’09
106**
105 Vriy TO
F-A
J-J
A-O
Registered
Sep ’tu ....|| 93
106
I 65
67
Mar
J-J
Guar refund 4s
....
J’ne’06
112
116
UnPaoRRA 1 gr g
124
120
Apr’10
105
Sep TO
108*4
00
02
90
oot Tu
9l’»
90
«7 *2 “37 84
87*4 dale
99
Apr’10
100*4100*4
21
81*2 82*4 81*4
78*2 85
82
114
H7*a
Sep to
117
1*5*2
*7 76*2 82**
7»as Sale
78*4
100
100*4 Dec oy
96*4 97
96*4 0»o* 98*® Aug’lO
120
107
917.
87
100*4
Ho Low High
19 93*4 95’a
13 I03*s 111*4
93
92
m
100
Ulster
Del 1stg 4s
con g 6s 1928
J -D
1st A
refund
1952 A-O
117*4
106*4 109
......
106*4 109
110*8 111
M-N
F-A
J-J
60-year gold 4s
Oou tr 4s g Ser A
Tor Ham A Ball 1st g 4s./il946
See Nor Pacitio
*
J -J
1922 J-J
series D 4-5s...
Series E 6s
General os
....
Gray’s PtTer lstgug 6s 1947
Registered
klU49
2o-year conv 4s.i....01929
Cent Pao 1st ref gu g 4s 1949
Registered
1949
Mori guar golU3*as..kl929
Through St L 1st gu 4s ’64
1
J-R
A-0
J-J
J-J
I9601 A-0
1917 F-A
Gr isl 1st g 4s...1947 J-J
8t L * Cairo See Mob * Ohio
St L A iron Mount See M P
St L M Br See T RR A ol St L
8t Roms * S F—Geng Os.1931
8b Paul A Gal
A-0
70
106
General gold 5s
1935
Kan A M 1st gu g 4s....1990
ToiP A W 1st gold 4s....1917
Tol St L A W pr Ben g 3 *2S. 1925
Roch * Pitts See B R * P
Rome Wat* Og SeeN Y Cent
Rutland See n Y Cent
L^ag Tns
i
J-J
SpokaneIntemat 1stg 5s 1956 J-»
I 'er A ot St L 1st g 4*38..1939 A-O
JL 1st con gold 6s....1894-1944 F-A
Gen refund s i g es
1953 J-J
St L M Bge Ter gu g 6s.l930 A-O
Rensselaer A Sar See 1) A B
Rich * Ran See South Hy
Rich * Meek See Southern
Rio Gr West See Ren * Rio Gi
Ot Jo *
107*2 110
85
86
88
1946 A-0
Since
January 1
76>\
76*3 144, 73
817®
90*2
86*3 Oct *10 ...J| 85
.108 Sep’10—.'106 110
| 85*a
85*a
li 80H» 87
108 Sep ’08 ....'!
108*«
Ga Midland 1st 3s
® ®
3Q/J.
I
J-J
J-J
Ga Pao Ry 1st g 6s
Knox <& Ohio 1st g 6s...
Mob A Birpnor lien g 5s
Range
•
86*2.;.-..'
'
Pitts * West
I)eadingCo gen
86
76H* Sale
1945 J-J
1945 J - J
Rich A Ran con g 6s....1915 J-J
Deb 6sstamped
1927 A-0
Rich A Meek 1st g 4s...1948 M-N
So Car A Ga 1st g 6s....1919 M-N
Virginia Mid ser C 6s...1916 M-S
108*2112*4
Oot '10
J-J
Week's
Range or
Last sale
ASic-Low
High
Sale | 94*4
93 j
109
108*2
103 »
110
May’09
108
Mortgage gold 4s
112
90*2 90*2
71
79
100 102*4
Sag Tus * H lstgug 4s.1031
Plul B A W
Bia
95
gSs.,1930 J-J
Con 1st gold 6s.,
1956 M-N
E Ten reor lien g os
1938 M- S
112
112
90 *2
106*9 100
J-J
ETVaA Ga Div
109
109
....
....
5$
4,*2-5s...l996 J-J
St IjOUIs div 1st g 4s....1951
Ala Cen R 1st g 6s
1918
Atl A Danv 1st g 4s
1948
2d4s
...v.
1948
Atl A Yad 1st g guar 4s. 1949
Col A Greenv fst 6s
1916
91
91
91
106*9
106H»108
Price
Friday
Oct 21
So Pac RR 1st ref 4s
1955
Southern—1st con g 5s....1994
96
......
90
BONDS
N. Y. STOCK EXCHANGE
Week Endino Oct 21
J •J
Registered
1994 J-J
Develop & gen 4s Ser A. 1056 A-0
Mob A Ohio coll trg 4s. .1938 M-9
Jan’05
110*4 Jan ’09
109*4 J’ly’OO
1083
4—Concluded
100
100
100*8 101
......
ioi’i ib*2*2
Am
Telep A Tel coll tr 4s 1929 J-J
Convertible 4s
1936 M- S
Mich State Telep 1st 6s.. 1924 F-A
N Y Telep 1st A gens f 4*as.’30 M-N
Pae Tel A Tel ist 6s
1927 J
West Union coitr cur os.1938 J-J
Fd amd real est g 4*as...l950 M-N
Conv 4s, Series A
1936 M-N
44
9034 91*b 907*
104*2 sale 104
105*4 1385
0/
' 95 AugTO ....
98 *« Sale
98
98** 74
07 *2 sale
97 ** 27
97*4
9934 100
99 7«
100
13
94
95
95
05*2 10
10i34 102*2 101<%
10L0*
05
07
93
90®*
100*2
07*4
2 100**102^
MISCELLANEOUS BONDS—Concluded.
Manufacturing A lndustr*Mi
Gen Eleotric deb g 3*2S..1942 F-A
1017 J-D
10-yrg deb 6»
,Int Paper Co 1st eon g 6s. 1018 F-A
Consol conv s f g 6s
1935 J-J
Int St Pomp 1st s f 5s....1929 M-S
Lackaw steel ist g 6*....1023 A-0
Nat Enam A Stpg 1st 6s.. 1929 J-D
N Y Air Brake 1st
6s "28 M-N
By Steel Spgs 1st s f os... 1921 J.J
RepublAS 1st A coitr 6s. 1934 A-O
Union Bag A P 1st si 6s..l03o J.J
conv
Stamped
.
U S Death Co sf deb g 6s.. 1913
U S Realty A I conv deb gfis ’24
U S Red A Ref 1st s f g Os.1931
U S Rubber 10-yrcoll tr 6s.T8
U S steel Corp—j ooup .41963
SX 10-60 yr os. (reg ..41068
♦
No price Friday: latest
14034 Sale
102*2 103
101*
85
02
......
Sal*
07
99
103
97S
J.D
M-N
M-N
I0?«k Sale
88
103 % Sait.
103
06*4
96
......
101^
85
02
97
Sep TO
May’io
May’10
104*2 Aug’lo
87
•7*
102*2
103*2
1037*
bid and asked this week.
*999
J’ly’lC
Oct TO
0l7a 067*
05 7* 100
94
07^
1143,
7 100
96*2 08**
102 104
93
96*2
16
20
104
104
98\ 97
102
91* 93
98
104 *2 105
87
Sat*
86
85
0 L7t
105
M-N
J-J
J.J
82
82
14934
87 130
105
2 100
6
8234 80*4
Jan TO
14984
82
118
80
-
V* “
..
93
,,
»6*s
104*2 105
87 S 10 85*9 94*4
86
90*2
Oct TO
79 10134 104*2
103
104*» 420 101*2 105*2
104*8 27 1017* 105*4
Manufacturing *fc Industrial
Va-Car Chem 1st 15-yr 5s 1023 J-D
Westinghouse E A Mat os ’31 J.J
Sale
99*
100
01 *2 Sale
01*2
93
M-S
91*4
91
J-R
A-0
02 *2 Sale
83** 60
91*4
923«
100
96*s 1001*
85
03*4
Miscellaneous
Adams Ex ooi tr g 4s
1948
Armour ACo lstreaiestl^s’db
Bush Terminal 1st 4s
1052
Consol 5s..,.
1055
Chic Jo A «t Yard ooi g 5s. 1015
DetM AMldgr moomes..l011
institfer Irrig Wks 4*28 1043
Int Merean Marine 4*2S..1022
int Navigation 1st s X 6S.I020
Provident Loan Soo4*9«.1021
Wat Oo oon g 6a..1023
s Yuba
Wash Water Pow 1st 6s.. 1939
6 Due Feb 4 Rue Apr «Due May ^Dne J’ne A Due J’ly
J.J
J-J
A-O
02**
88
Aug’lu
05*2 93
100
05*8 106
35
37 *a
J’ue’lo
......
M-N
A-O
F-A
06
J-J
05
F-A
M-N
M-S
J-J
J.J
917*
66*2 Sale
70
81*«
73*8
05
.
06
100
May’ll/
AugTO
bep To
66*
78S
35
96
76
•«
05
J’ly’OV
J’ly'04
Aug* 10
08
100
40
98
83
‘j n%
Deo’00
118
168
93*a
BO** 04*2
87St 80
»<*•••
00*4
90S Oat TO
06
Bep TO
*8*3"*2
••••••
96
66
91
•0
■
•••••
101
•••«•#
108
ADuoAmg oDue Oct p Due Nov 1 Option Salt J
CHICAGO STOCK EXCHANGE—Stock
STOCKS—HIGHEST
Saturday
Monday
Oct. 15
Oct. 17
155
*1%
*--.
2%
*6
74
74
177g
18%
*8
*4
*72
*20
*68
*18
*60
10
*50
*22
♦72
5R
25
75
*20
23%
9
131
80
75
9%
9%
9%
71
*250
131
*
11%
9%
70%
71
131
79
79% *78
80
♦108% 109 *108% 109
*33
*63
*48
*1
*2
42
*120
35
64
50
*33
*63
*48
*1
*2
1%
3
42
121
*33
♦63
*48
*1
*2
41
1%
*120
3
42
122
145
146
41%
*145%
116% 117%
92
35
64
50
116% U7
93%
59%
1%
3
41
121% 121%
92
92
64%
63%
65%
59
99
*
99
99
59
99
113
21
113
*
*112% 113
*122
127
121% 121%
*112
122
21
113
122
59
*
*
21
123
127
118% 118%
109
♦
*126% 127
*119
109
121
*119
147
117
91%
64%
92
59
59
99
65%
*
*
21
♦111
*121
*126% 127
109% 109%
3
41
40%
145
117
92
983a 100
1%
145% 146
116
116%
59
*
35
64
50
120% 121%
91%
59%
*33
*63
*48
*1
*2
112%
122
126% 127
121
*119
109% 110
121
109% 109%
,
169% 17034 169% 171
*119% 120- +119% 120
103
103% 103% 103%
*173
174
174
174
170
120
103
174
103
103
*103
104
*I03
*834
834
16*
*-.-.
834
16’
*
171%
120
169% 171
120
103
*173
103%
174%
104
834
8%
.
856
65
24
Sep'10
Sep* 10
....
60
Oct’10
50
....
14%
55
Price
Friday
....
....
*8%
Last
Last Sale 15
_>
June’10
Western
-
-
—
_
_
....
....
-
...»
....
....
*
—— —
^
it-
....
m
— »
—
m
....
....
-mm--
....
....
....
.
....
.
....
....
..
—
..
----
Knlck’b'ker
ice 1st 5s 1928 A - 0
Lake St El—1st 5s
1928 J - J
75
Income 5s
1925
Feb
Metr W Side El—
1st 4s
1938 F - A
81% Sale
Extension g 4S....1938 J - J
78% 79
Morris & Co. 4 H
1039 f - J
North West El 1st 4s_19U vl- 8
9578 Sale
No W G-L & Coke Co 5s 28
Q - M
—jC
Ogden Gas 5s
1945 A - N
93
93%
Pearsons-Taft 5s
1916 l - b
98%
4.40s
vl - S
95
4.60s iSeries E
vl - N
96
4.80s Series F
M - N
97%
Peo Gas L & C 1st 6s_1943 A - O
Refunding g 5s....1947 .vl- 8 101
10134
Chic Gas L&C 1st 5sl937 J - J
Sale
Consum Gas 1st 5s_1936 i - D tl03
Mut’l Fuel Gas Ist5sl947 VI - N
101%
South Side Elev 4 %s. 1924 J J
93
93
Swift & Co 1st g 5s...1914 J - J
100%
Union El (Loop) 5s..1945 A 0
....
•
....
----
—-
....
....
....
—
.
.
,
....
.
_
..
....
Union Paclllc conv 4s.1911
A
United Box Board ool 6s'26
General mtge 6s
J
Western Stone Co 5s. 1909 A
....
-
N
.....
_
r
♦
Note.—Accrued
Nn
y
B'ds
Sold
or
*4 ..lcn'i<
Range
for
*
_
Low
_
92%
2
High
•JiRi
jya,
90*4
941;
•
J
O
67
57
59
65
....
.
must be added to
ln°3 Baak*
39
Jan 14
Feb 7
25
72
23
66
Apr 1
May31
J’neil
J’ne 22
J’ne 24
J’ly .6
10L% Oct’09
May'07
102%
103
50
_
_
102%
8
101% 103%
Apr'04
Apr'09
96*4 Jan'Jj
Feb’Oo __L_
85% Sep’10
97%
98%
88
84%
19
78%
11
0734
98%
97% Sep’it
100% Ap.T )
66% Aug’08
66% July’08
101% 101%
101% Oct’10
100% Aug’10
100%
100%
22
9bi- Mch lu
100% Aug’09
100%
6o
_
90
88
75
06
__
r
2
.
b
100% 103%
100% 102%
100% 100%
100
100%
11
2
_
_
,
,
.
4
100
8134
81%
78
78
9434 04%
9434 94«4
5
yy
93
I003g
96!97
98%
12134
101%
103
2
2
96
Apr'10
Oct’10
Mch’09
Mcft'10
Fe/10
Mch'lU
May'09
92
101%
2
2
10034
92%
100% Oct’10
88
114
Nov’04
70
Apr'10
2
9
_
_
Apr'lo
61%
61%
85% July O1
all Chicago b
fc6
80
84
80
76
88
24
103
100% Sep’10
10034
75
—
9034 Oct'10
9534
" 102%
----
77
May 05
86
91
100% 100%
_
94^4 Oct’10
16
95%
17% 101%
97% 98
9434 July '10
77
87%
101%
90%
_
100%
Dec
Uaiuinet
6-S J’ne 36
Jan
Nov
Jan
Jan
29% Apr
97
Feb
13% Jan K
62% j’ly 26
240
Apr 26
16
72
107
J’ly 19
Feb
82
Jan
7% Jan
71% J an
Jan
126
Jan
54% Apr
101
Feb
139
Aug
% J no
% Mav
10
May
/
150% Sen 22
135
Apr 4
84% MaylG
7
Aug 6
131% J’ly 30
143
Feb
7
ad(jttlon
v Pralria
j’lv
69
Dec
25
73
61
54t
198
May
May
May
Dec
Deo
6
J 'ne 21
9
J’ly lrt
106
5% Apr 28
15
J’ne
£1%
6
l£3g Jan
J
2% Apr
1
1
6
Jan
4o
Dec
jan
16% Dec
58
Apr
l
Apr
2% No/
1
Apr
2% Apr
20
Mch
42
Deo
127
Jan
140
Sep
11/
107
Jan
152
Oct
jau
121*2 J’ly
17% Feb
25% Aug
68% May
130*4 Aug
70% Mch
117 ' Jan
38
J nil
681- Deo
47
Sep
43
Jan
20
Nov
21
977* Jan
118% Feb
82
)1U
192
55
101
130
Sep
108% Dec
jau
i*>
Jan
Jan
Feb
~
Jan
124
Nov
119% Aug
i
Mch
169% Dec
121*4 Oct
114% Aug
Jan
100% Jan
119
j’ne
119% Sep
Jan
MayiG
Jan
6
J’ne
.ian
48
112 Mch 8
109 »8 Jan
6
18J
Feb .1
101
15% Nov
J’no
225% Oct
132
J’ly
81% Dec
112
Sep
145
Nov
86
too
171% Oct 18
116% Aug 8
loi
Sep 16
155
J’ly 17
9334
ond
06%
99
99
92%
96%
96%
Vtf’lo
”
97
97
98%
98%
10034 103%
103
104%
100% 102%
10034 101%
91*4 94
100
100%
88
i
93%
88
Vo" Vo"
61%
prices.
f Sept. 1 (close
of
65
Outstand¬
Surplus
ing
and
Stock
r
98% Jan
162
Dec
105
Deo
% Feb
33j Mcb
1% Mch
9% Jan
Feb
26 ' Mch
Profits
Dividend Record
In
1908
T
-National
jioo.ujy
043,541
Chicago City..
500,00v.
224.197
Contl’tal & Comm Nat 20,000,000
9.6-2,319
Corn Exchange .Satioua
3,000,006 5.437,074
L) rex el State
200,000
22,126
Drovers' Dep National.
600,000
399,499
Englewood State—
200,000
36,85
First National
10,000,000 10,836.539
First Nat Englewood
Foreman Bros B k'gCo.
Fort Dearborn National
Hibernian B k'g Ass’n..
La Salle St National
Live Stock Exch’ge Nat
Monroe National
Nat Bank of Republic..
National City
National Produce
North Avenue State
North Side State Sav’gs
North West State
Feo pie's Stk Yds State.
rPrairie National
Prairie State
..
J’ne’lu
78%
t
Kaspar State Bank.—.
94% Dec'09
87
62
8w% May
19% Dec
15% Sep
47
17
63
60
J neil
72% J ne22
£4% Jan 2
104
Jan t
55% J’ly 5
7
J’ly 28
Dec
Dec
30
78
77% Mch 30
jan
13% Jan
29% Jau
3*4 Dec
5
Can
45*4 Jan
30
Dec
8
6% Aug 16
Feb 17
119% J’ly
Dec
10% Dec
6
Jan
Jan
Ra’lway Exchange....
Security
South Chicago Savings.
South Side State
State Bank of Chicago..
Stock Yards Savings...
Union Bank of Chicago
Washington Park Nat’l
vVendei. state—
Central Tru®t Co of lit..
Cnicago Sav Bk & Tr
Chicago Title & Trust..
Citizens Trust & Savings
Colonla1 Trust & Savings
Cont & Comm Tr & Sav.
Drovers'1 rust &Savlngs
Farwell Trust Co
First Trust & Savings..
Guarantee Trust & Sav.
Harris 'Trust & Savings.
Illinois Trust & Savings
Kenwood Trust & Savgs
Lake View Trust ASavgs
Merchants' Loan&TrCo
150,000
192,377
1,000,000
1.5J0.00U
1,500,000
200.000
1,000.000
525,3/2
281,69:
950,43*/
149,88
251,586
490,626
65,103
1.214,618
404,524
83.034
68.755
26,229
18.498
105,12u
62,310
80,077
23,268
185,033
1,250,000
300,00*/
2,000,000
1,500,000
250,000
200,000
50,000
200,000
300,000
250,00U
500,000
250,000
300,000
200,000
200,000
1,500,000
250,000
200,000
87,000
11,035
.,<42,907
183.241
47,899
100,00j
7,814
50,000
6.570
2,000,000
872,807
H5U0.000
116,352
£.000.000 ,1,543,8*);
50,0'JJ
7,188
600.000
454,136
3,000,000
427,839
200,000
115.219
1,500,000
183,929
2,500,00*/ 3.113.260
200,000
1,250,000
5.000.00U
200,00j
200,000
0,000,006
750,000
1,500,000
200,000
500,000
Metro polttanTrust&Sav
Northern Trust Co
North-Western Tr&Sav
Pullman Trust & Savgs.
Sheridan IT & Sav Bank
200.00C
zi? Standard Tr A Sav
1,000,000
Stockmen's Trust A Sav
200,000
Union Trust Co
1,200,000
vWest’n Trust & Savings al,000,000
West Side Tr&SavBank
200.000
Woodlawa TT&SavBan.«
200.000
In
6
10
12
An
Dec
J-J
inly ’10. 5
12
9
10
6
6
12
12*
10
10
Pr.v ate Ba
8
8
8
8
10
10
Beg b s. M
10-1-2
10
4
8
3
4
8
6
3
_
2H
6
■
6
mmm.
m
«.
„
09. 6
Oct 10, 2%
Q-J Oct
10, 4
y-j Oct
‘10 1%
Q-J Oct TO 2%
Q-J Oct TO. 1%
Q-M Sep 30' 10,3d
Q-M Sep 30*10,2%
nk
Q-J
Q-J
J-J
)ct
Oct
TO, 2
TO. 2
July 10. 5
V .90 p.1277
Sep 30*102%
Aug. T0.1
Oct
TO, 2
Sep30 10. 1%
y ’lo
Q-M
Q-*
Q-J
Q-J
Q-J Oct
Q-J
Oct
Q-J
Q-J
Q-J
Oct
TO, 1%
TO, 1*4
TO, 1%
Oc.. TO, 1
TO, 2
Oct
_
8
2
6
Q-M
Oct
Jan
TO, 1%
*08. 2
B* Q-J Oct TO. 1%
6
6
Q-J Oct TO, 2
Beg. b us Sep t'09 V. 81 P- 817
11
12
Q-J Oct TO. 3
7
8
Q-M 3ep30’10,2
6
6
Vl N vlay TO, 3
See V. 90, p.
159
6
None Q-M Oec31 ’08,1%
7
7
Q-J Oct TO, 2
6
1H
Q-J Oct
TO, 1%
6
6
Q-J Oct. TO, 2
4
4
A-U Octy 10, 3
8-F2
8+2
Q-J Oct TO, 2%
•
None
-•••
•••»
,
-
.
-
-
7M
2,327,738
-
-
-
-
8
3
8
8
6
64,494
6
224,584
8
8
25,432 Beg b US. J'lv
250,000 Comm enced
32,754
5
5
1,190,520
8
t8 + 2
132,692
6
6
53,442
%
10
6
9H
Last Paid
u
15
14.619 incorp orated
6
1,450,828
9H
8,444,429 16 + 4 16+4
53,526
6
654
43,365
5
4H
5.840,079
12
12
221,455
6
6
107,552
Per¬
iod.
1909
_
m
6
6
Q-Q Oct TO. 2
Q-J Oct. TO. 1%
Q-M 3ep30'10, 4
1908 v.87 p.1138
Q-J Oct
10. 3
Oct TO. 4
</
QJ Oct TO. 1*4
Q-J Oct TO, 1%
Q.-J Oct TO. 3
Q-J Sep 30 10,1%
Q-J Oct TO, 2
J-J
Inly TO, 3
Q-J Oct TO. 2
12'0 9 V 89 n 141
bus. Sept 6 1910
J-J
july TO. 3
Q-M 3ep30’10,2
Oct
Q-J
TO, 1%
Sep 30T0.2
Q-J Oct TO, 2
business) for national banks and Sept.
2(1 (opening of business) for State institutloi
Due. D?c',31;
Dud June- * AI30 20% iQ stock, n Capital and surplus
to be Increased,
the equivalent 01 4 % more came from First Trust & Savings Bank, t
q Dividends are paid Q311910.
v In addition the equivalent of
Nat- Bank and Western Trost <fc Sav. Bank to be merged and capitalJuly
1% cai
of latter to be increased to
$1,250,000; V. 91, p. 31
oavraMit!? cTf PC «Tn^Zinn'tt,0
t£°See V^Vlp *72
J’ne"*))
100
100
NAME
....
1U2
Stone
Year 1910
High No.
t2%
nri^r.dwrirtav-Piri»MtIi?.f^f^hYere m,ade o.^thls day.
with extra
ffVm
interest
-
....
97% Dec
Feb
4
15
Chicago Banks and Trust Companies
.
-
....
2% J n?29
£0
Aug It
Oct
3)
»
3,607 Sears-Roebuck com.. 100
49
Do
pref
100
64
Swift A Co..
.100
241 L'he Quaker Cats Co.. 100
Do rights
Do
80
pref
100
315 Unit Box Bd A P Co.100
Do pref
100
----
_
„ioo
100
American Radiator..100
Do
pref
100
.176 Amer Shipbuilding...100
20
Do
pref
100
Amer Telep A Teleg
Booth (A) A Co
100
Do
,ion
pref _
119%
103%
♦175% 180
634
June’10
104
104%
8%
♦8% - 834
Sale 734
Apr’09
m
Last Sals
.
9%Jv*
Miscellaneous
17012
11934
103%
103
103%
175
177
Last Sale
Ask Low
....
16
190
*
670 American Can.
750
Do
pref
9%
•
Week's
Amer Strawb'd 1st 6s.1911 r - A
Armour & Co 4 Hs
1939 J • D
J92 s Sale
Aurora Elgin &Chlc 5.1941 A - O
Cal & So Chic Ry Co
1st M 5s
1927 F
A
Cass Av 4FG (St L) 5s '12 J - J
Chic Board o£ Trade 4sl927 J
D
Chicago City Ry 5s
1927 F - A 102% 102%
Chic Consol Br & Mlt 6s
J
J
Chic Consol Trac 4 %s 1939 J
LJ
Chic Auditorium Ist5sl929 F - A
Chic Dock Co 1st 4s.. 1920 A - U
Ohio Jc RR 1st M g 5s. 1945 M- S
Chic No Shore Elec 63.1912 A - O
Chic Pne Tool 1st 5s.al921 J - J
86
88
Chic Ry 5s.
.1927 F - A
98
Sale
Chic Rys 4-5s series "A” A - 0
Chio Rys 4-5s series “B" J - D
79
Chic Rys 4-5s series “C" F - A
93
Chic Rys coil 6s._.1913 F - A
98% Sale
Chic Rys Fund 6s
1913 P - A
Chic Rys Tem Ctfs 1st 5s
Chio R I & P RR 4s..2002 M - N
Coilat trust g 5s—1913 vl- S
Chic Telephone 5s.__.1923 I - Li
102%
Commonw-Edison 5s. 1943 VI - S 101% Sale
Chic Edison deb 6s. 1913 J • J
1st g 58....July 1926 A - O
Debenture 5s
1920 Vi - S
Commonw Elect 5S01943 A- S
Illinois Tunnel 5s__._1928 I - L) {10078 Sale
Kan City Ry & Light
Co 5s
1913 «l - N
95% 96%
Mav2ti
May24
Jan 3
Jan 2
Jan It
36
Mch
5
.
170
Highest
1% Oct
....
16912 1 7034
Range
Oct. 2l
Bid.
109
40
180
.
16"
est
Period.
...
60*8 Sep .8
11% Seo 13
OJ
id
51
15
63
Mch 7
112
Jan 11
142% Mch >.
Sale %
June'09
Sale %
June’09
35
35
35
25 Booth Fisheries coin
J’ne 6
31
64
39*4 Jan L
627g
820
Do pref
63%
56
J’ne 0
74
Jan 4
Sale 47
Cai A Chic Canal A D.100
Aug'10
47
Aug
11
55
Feb 17
Sale 1
Chic Brew’g A
Apr* 10
Mait’g
1
Feb 4
1
Feb <
Sale 3
Do pref
Sep* 10
.......
3
Sep 23
3
Sep 23
42
42
40% 42
565 Chic Pneumatic Tool.100
4
25%
J’ly
26
i
Feb
1
121
120% 120% *120
150 Chicago Telephone... 100 110
Mavl7
127
Jan
3
Last Sale 2%
Feb’08
Do
rights...
146
146
*145
146
418 Chic Title A Trust
100 142
Aug 26 m; Memo
115
116% *114% 116
315 Commonw th-Ed'son.100
108% J’ly 27 U‘1% Jan lJ
Last Sale 13s
Feb’10
Do
rijhts
2
Jan
lii
1%
Jan 12
Last Sale 15%
Oct* 10
Corn Prod Re. Co com
13’"J’1 Y 9
22% Jan 8
Last Sale 79%
Do
Apr* 10
00
pref
<0% Apr v
82
Feb 16
92
93
526 Diamond Match
92%
92%
lou
82% Sep 30 12/
an
C
63
61% 63
63% 2.395 ll'inois b/ick
100
63
16
91
J’ly
Mch 2
Last Sale 45
Masonic Tempie
Aug’10
<31
<* Men
v
<.!6
Jan
7
58
59
58%
59
440 AI.'Crum-Dowell Co_.loo
40 ' Mch i i
60‘i May2e
*98
98% 99
99
453
Do
prefi...
93
J’nsit
1U2% Apr 10
Last Sale 2%
Mtlw A Chic Brewing....
June’07
Lost Sale 20
Nov’09
Do pret
♦111
112
112% ♦111
100 National Biscuit
100 101
Aug 3 115 Jan 7
*121
123
♦121
122
Do
11
100
pref
D8
J’ly it 125 Jan 1;
127
127
*123
127
80 National Carbon
100
104
Feo 24
127
Oct 10
*119
121
♦119
120
5
Do
pref
...100
112
Feb 10 121
McU 30
108*% 10834 109% 109%
636 People’s Gas LACoke. 100 103
J’ly 26 <15*4 Jan 2
Last Sale 11-16 Mch’09
Do
rights
175
Inter¬
EXCHANGE
Do
pref
100
South Side Elevated—100
609 Streets W Stable C L.100
110
Do
pref
100
BONDS
Week ending Oct. 21
Lowest
2% Jan 26
7% Jan 7
J’ly 28
8
3
-
Northwestern Elev...100
185
1% J’ly 28
4
2"...
Do
pref
100
Metro pol W S Elev...100
110
Do
pref _•
..100
Chicago Bond Record
CHICAGO STOCK
’
....
Last
Last
*33
*63
Last
Last
Last
103%
Range for Previous Yeax
•
Highest
Mch 7
185
Rys part ctf ”3”...
Chic Rys part ctf
”4*’...
Chicago Subway
100
Kaos City Ry A Lt-,100
mm-*
Oct’10
68
108% 1081; *10812 109
Last Sale 137*4 Oct’10
120
*....
300 Chic
71
71
Last Sale 250
Oct’10
Last Sale 126
July’10
79% 79% *79
79%
103% 103%
8%
8%
16"
*-.-.
Chicago City Ky
..100
Chicago & Oak Park.. 100
3,693 Chic Rys part ctf
Sep* 10
5%
9%
9%
70%
Lowest
Do
pret
....100
92 Chic Rys part ctf
*1"
18*4
13%
Range for Year 1910
EXCHANGE
....
•«--
55
9%
70%
mm--
75
24
*22
Sale 71%
Sale 18
65
♦64
Sale 20
63
*55
Sale 65
STOCKS
CHICAGO STOCK
ka.'roads
Mch’10
1834
12%
Week
Shares
July’10
July’10
5%
12%
131
35
64
50
19*4
*23
Last
Last
65
Last
*60
Last
79% 79%
*108% 109
♦108% 109
♦138% 139% *138% 139% *138% 139% *138% 139%
-
Sale 185
Sale 1%
Sale 4
75
*73
5%
9%
.
Oct. 21
---•
70%
*120
Oct. 20
18%
77
21
63
22
63
65
12
52
*50
Friday
♦9
10
Last Sale 4%
4%
5%
23%
*72
*19
*62
♦18
*...
*60
22
60
65
11
52
*50
75
20
10
5%
♦22%
23%
69%
10%
71
*
5%
23%
23
*72
*20
*68
*18
60
*60
52
71
*250
4%
5%
10%
9%
7034
19%
10
Sales
Thursday
Last
Last
Last
*73
2%
*1%
*6
*73
19
*9
*4
75
*4
68
22
63
65
*60
*10
*50
52
8%
70%
4%
*
10%
*250
*...
*78
18%
68
*18
22
63
65
155
2%
73%
17%
9%
10
5%
75
155
_
*1%
72
17%
23%
69%
Oct. 19
*6
*8
*4
4%
5%
23%
5%
23%
2%
*6
72
10
*__
PlQCES
of the
Wednesday
Oct. 18
155
*1%
AND LOWEST SALE
Tuesday
Record-Daily, Weekly and Yearly
Oct. 22
THE CHRONICLE
1910.1
Volume of Business at Stock
TRANSACTIONS AT THE NEW STORK
1085
hiectrie Companies
Ohtc Edison Co—See Ch.
Grt West Row 5s '46.J-J
Exchanges
Kings Co El LAP Co 100
N&rragan tProvi El Co. 50
s
STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY
NY AO Et L &Pow Co 100
Preferred .........lOu
Railroad,
Ac.,
Stocks.
Week ending
Oct. 21 1010.
■Saturday
Monday
Bonds.
Par value.
Shares.
446,435 $41,580,500
88.286.500
978,090
68,244,800
739,498
57.796,700
637,967
80,650,000
882,450
85.480.500
944,205
...
...
Tuesday
Wednesday
Thursday.
-Friday
..........
$1,836,000
3,507,000
2.287.500
2,725,000
$60,000
2,786,000
3.569.500
65,000
24.500
Week ending Oct.
Sales at
New York Stock
Exchange.
e
$5,000
$5,000
$486,500
140,405,6171
172,881,977
4,628,645
4,948,083
$422,031,000 $467,146,125 $12,514,203,250 $15,832,116,625
$10,700
$12,000
$908,600
$154,350
Stocks—No. shares...
Par value
Bank shares, par.....
Bonds.
...
$5,000
486,500
16,711,000
•Government bonds...
State bonds
SR. and mlac. bonds.
$17,202,600
Total bonds
$35,000
614,000
17,599,000
$18,248,000
$338,200
37,090,450
487,978,7001
$525,407,350
Amer Tel eg
Franklin
.......100
9 Gold A Stock Teles. 100
e Northwestern Tel eg. 50
Pacific A Atlantic
25
$531,700
31,320,900
1(062,447,100
Ferry Companies
B & N Y 1st 63 1811. J-J
N Y 4ER Ferry stk.100
1st 5s 1922...
M-N
NY&Hob 5s May '46.J-D
Hob Fy 1st 5s 1946 M-N
N Y 4NJ5S 1946
J-J
10th & 23d Sts Ferry. 100
9
EXCHANGES
Philadelphia.
Listed
shares.
Unlisted
shares.
Bond
sales.
Listed
shares.
Unlisted
shares.
Bond
sales.
1
12,519
40,568
30,248
20,920
33,278
30,055
8,724
34,525
28,969
23,411
16,945
20,858
$92,000
108.500
92,000
77.500
106.500
59.500
8,517
22,544
31,284
18,262
21,148
32,832
6.628
11,384
167.588
133,4421
$536,0001
134.5871
68.053
^Saturday...........
Monday............
Tuesday
Wednesday
Thursday
.Friday.............
...
..........
Total
are
now
9,605
12,271
15,548
12,517
38,600
$166,400
Mand interest” except where marked "f.M
Street Railways
New York City
Bid
Ask
Bloeck St A Fnl F stk.100
1st mtge 4s 1950 ..J-J
15
52
20
S’y A 7th Ave stk —100
2d mtge 5s 1914 ...J-J
115
140
100
1st
98
Exc
102
Con 5s 1943—See Stock
B’way Surf 1st 5s
1024
gu
•Cent’l Crosst’n stk ...100
Dry D E B A B—
1st gold 5s 1932...J-D
Scrip 5s 1914
P-A
Eighth Avenue stock. 100
F-A
Scrip 6s 1914
42d A Gr St F’y stk..100
1st mtge 6s 1910.M-b
2d Income 6s 1915.J-J
Inter-Met—See Stk Exch
Lex Av A PavF 5s See Stk
Metropol St By—See Stk
Ninth Avenue stock..100
Second Avenue stock.loo
1st M 5s’09 ext T 0. M- N
Consol 5s 1948
F-A
« Sixth Avenue stock..100
Sou Boulev 5s 1945...J-J
So Fer 1st 5s 1919...A-O
Third Avenue—See Stock
Tarry W P A M 5s 1928
YkersStRR5s 1946 A-G
28th 3b 29th Sts 5s '96 A-0
.
Twenty-third St stk..100
Union By 1st 5s 1942.F-A
Westchest 1st 5s '43 J-J
Brooklyn
Atl&n Avenue RR—
Con 5s g 1931
A-O
B U 3b WE 5s 1933.-A-0
Brooklyn City Stock—10
Con 5s—Soe Stk Exch
Bkln Hgts 1st 5s 1941 A-G
Bkln Queens Co A Sub—
e 1st g 5s '41 op *16.J-J
elstcon5s '41 op’16 M-N
Bklyn Hap Tran—See Stk
Coney Isl 3b Bklyn.. 100
1st cons g 4S 1948..J-J
Con g 4s 1955
J-J
Brk C 3b N 5s 1939.J-J
Kings C El 4s—See Stock
Nassau Elec pref
100
5s 1944
A-O
1st 4s 1951—See Stock
N W’bg 3b Flat 1st ex 4 4s
Steinway 1st 6s 1922—J-J
Other Cities
Buffalo Street Ry—
1st consol 5s 1931..F-A
Deb 6s 1917
A-O
Columbus (O) St By. .100
Preferred
.100
Colum Ry con 5s—See Ph
Crosst’wn 1st 5s '33 J-l)
c Conn By 3s Ltg com. 100
• Preferred
loo
1st 3b ref 4 4s—See Stk
Grand Rapids Ry pref .100
e Louisv St 5s 1930
J-J
Lynn 3b Bos l:.t 5s '24 J-D
eNew Ori Rys A Lgt.100
e Preferred
100
Gen M g 4 4s '35—See b
Pub Serv Corp of N J.100
Tr ctfs 2% to 6%perpei
North Jersey St Ry. 100
1st 4s 1948
M-N
1
'
S
:
•
Per share,
b Basis,
Cons Tract of N J—100
1st 5s 1933
J-D
New’k Pas By 5s ’30 J-J
Rapid Tran St By..100
1st 5s 1921
A-0
J 0 Hob 3b Paterson—
4s g
M-N
1949
So J Gas El 3b Trac.100
Gu g 5s 1953—M S
No Had Co Ry 6s 14 J-J
58 1 928
J-J
Ext 5s 1924
M-N
99
95*2
985g
97*4
Bid
Ask
72
103
106
235
103
74
104
74*2
K O By
Light 6s '12.M-S*
Minn A St L g 5s '11.F-A
eU YU Lines Eq 5s 10-22
4 43 Jan 1911-1925
N Y N H A H 5s '10-12
St L A S F4 Hs'12 op.F-A
5s Mch i 1913
M-S
9734
97*4
1 )1'8
98*4
9J
64.60
64.60
100
97 2
90;?
South By g 6s 1913..F-A
Tidewater 6s, 1913 guar
Wabash 4Hs 191....M-N
West Telep A T ds ' 12 F- A
Westlngh’e El AM 6s 1913
5% notes Oot 1917.A-0
.
L06l2
245
100
518**
'99
•
2
-» «r
Sells on Stock Exchange, nut not very active.
/ Flat price,
n
Nominal.
M-N
list
3
7*a
199
88
35
6
12
59
105
45
9978
6
<r
nil
93
100
105
26*8
c Deb us 1915...._.M-b
Lanston Monotype
100
Lawyers Mtge C0....IOO
oeh 6c Wllaes-B Coal
du
e Lori1lard (P) pref._ *iuu
vfadlson Sq Garden..10*)
2d 0s 1919
M-a
97
100
26«*
....
Exc
Mortgage Bond Co.-.lOU
50
5
5
Exc
100
*30
112*2
♦6212
?212
Use
35
90
Exc
99“8
94**
85*2| 8612
237*2 242*2
225
J35
35
85
75
list
100
94*2
Nat Bank of Cuba....100
Nat'l Surety.
.100
Nevada Corus’d Copper a
Nev-Utah Min 6c Sm. 10
e New Central Coal
2u
NY Air Brake 6s—See Stk
N Y Biscuit 6s 1911-M-b
New York Dock....100
e Preferred
100
N Y Mtge 6b Security.100
N Y Transportation.. 20
Niles-Bem-Pond com. 100
N1 pissing Mines......
5
Ohio Copper Co.
10
Ontario Silver
100
Otis Elevator com....100
Preferred ._■*
100
275
i46
45
*'l|2
9*4
*l*4i
*878
21*4'
.
*4**2
72*2
9*11*2 9*2*
Manhattan Transit... 20
Mo no uganela R Coal.. 50
Prelerred
50
Railroad
Chic Gt Wcom tr otfs\Sec stoc
e Preferred tr ctfs
list
/
Chic Peo A St L—
751Prior lien g4 Hs'30. M-S
85
Con mtg g 5s 1930..J-J
931?
Income 5s. July 1930..
.....
Sm
92 tj
150
85
88
24
70
15
65
100
104
...
IOjIj, 100*2
•
iT
I3*i
80
95
105
98l2
99*« Interuat”. Mer Mar—Sea b tk Ex 1st
yo*: international Nickel..lOo 135
140
Preferred
.too
99U
89
92
1st
97-T*
g 58 1932
A-G
90
93
international
Salt——lOo
6
8
100*4
1st g 5s 1951—
47
A-U
52
International 3tHrer_.100
99
50
80
Preferred
100
lu7
99
113
1st 6s 1948.—_.__J-D
102 i„
110
112
internat
Smelt
A
99
140
Refg 100 130
nternatTimc
Record.
lOo
175
200
99*2
Preferred
4.3.)
,_10u 197
112
4.3o iones 6b Laughiln Steel Co
1st s f g 5s 1939..M-N
101
101*4
j Lackawanna
98
Steel...100
35
39*4
e 1st con 5s 195U...M97»2
m m
--
41
imp 100
Houston Gil
...100
Preferred
loo
Hudson Realty..
10u
11ngersoil-Rand oom.ioo
e Preferred
.too
iQtercontin't'l Rubber. 10*
internat'i Bank'g Co.lOu
98ls 9**4
100*2 101
-T--
42d St M A St N Ave. 100
•
105
90
85
Street Railways
Pub Serv Corp N J (Con>
j-D
130
97
102
80
90
Chicago Subway
.100
102
Exc list
Kan A Col Pac 6s 1938 .F-A
93
Nat Rys of Mexico—See S
Pat Ry con 6s ’31—J-D 115
95
too
North'd Securities Stubs.
2d 6s opt 1914..A-0
99
40
*01
Pitts Bess & L E......50
/ 30
list
300
So Side El (Chic)—Sea Cb icago
225
Preferred
50
101
.
100
Syracuse R T 5s ’46..M-S
/ 95
102*2 s Railroad Securities Co—
Trent P 3s H 5s 1943.J-D
220
97
200
stk
ctfs
III C
tr
ser A 52
United Rys of St L—
Seaboard Company—
Com vot tr ctfs
100
1st preferred..
8*4
8*4
100
e Preferred
100
40
Com 6b 2d prei—See Bal
40*4
/ 25
Exc
Gen
4s
list
1934—See Stock
list
Seaboard Air Line—
ange
Exc list
UnitRys San Fran See Stk EXc list
Coll 5s ext May '11. M-S
Exc list
Wash Ry A El Co
100
3434 351? West Pac 1st 5s '33..M-S
Preferred
100
155
180
88lj> 8878
4s 1951
83
10
J-D
16
84
Industrial and Miscel.
Adams Exp g 4s 1947 J-D
99*4
60
(ias Securit’es
Ahmeek Mining....
1 50
25
130
115
Alliance Realty
100
New York
60
85
American Book
...100
92
Gent IJn Gas 5s 1927 .J-J 100
88
102
American Brass
100
Exc •1st
Con Gas (N Y)—See Stk Exo list
American Chicle 00m. 100
e Mutual Gas..
80
166
100 158
/ 60
Preferred .........100
75
85 ' New Amsterdam Gas—
Am Graphophone 00m 100
1st
5s
consol
30
1948..J-J
100
102
Preferred .........100
1 15
NY&ERGas 1st 5s '44 J-J 102
215
104
190
Amer Hardware .....100
Consol 5s 1945
J-J
98
100
102
100
Am Malting 6s 1914..J-D
N Y 3b Richmond Gas.100
40
65
76
Amer Press Assoc’n_. 100
50
N Y A WestchesterL’ht’g—
Am St Found new—See S
Deb g 5s 1954 guar.J-J
99
6s 1935
101*2
A-0
Nor Un 1st 5s 1927..M-N
98
100
Deb 4s 1923
-LF-A
e Standard Gas com..100
101
55
103
American Surety..... 50
• Preferred
100
75
9/
102
American Thread pref
5
1st 5s 1930
M-N 103
100
170
106* Am Tobacco Co com..100
list
Amer Typefders com. 100
ange
Other Cities
100
97
Preferred
100
Am Gas 3s Elec com.. 50 *43
45
Deb g 6s 1939
M-N
Preferred
50 *40*2 41
08
102
Amer Writing Paper—100
Amer Light 3b Tract
96
99
100 278 280
Preferred
100
Exc list
Preferred
100 101
;
103
1st s f g 5s *19 op ’09 J-J
60
•75
Bay State Gas
...
50
68
*4 AMGf&WIndSSL’nes.lOO
83
78
Blugh ton (N Y) Gas Wks
Preferred
.100
80
95
75
1st g 5s 1938.
A-0
100
Col tr g 5s 1959
J-J
95
100
Brooklyn Un Gas—SesStk Exc list
Barney 6s Smith Car.. 100
3*Exc ‘1st
Buffalo City Gas stk.. 100
5
Preferred
100
1st 5s 1947—See Stock Exc list
Beth’.’m Steel Corp—See S
103
105* Cities Service Co
63
lOu
63*4 Bliss Company com
50
Exc list
Preferred
100
82
84
Preferred
60
92
Con Gas of N J 5s ’36.J-J
93
87
96
Bond 6b Mtge Guar...100
Consumers’ L H & Pow—
103
106
Borden’s Cond Milk..100
5s 1938.
J-D 110
Preferred
100
Denver Gas <& Elec...100 205
British Col Copper
5
Gen g 5s 1949 op.M-N
90
93
Butte Coalition Mining 15
Elizabeth
Gas
Lt
Co—100
300
Casein Co of Am com. 100
10252 105
Essex A Hudson Gas.100
136
105
103
139
Preferred
100
95
Gas 3; El Bergen Co..100
77
80
Casualty Co of Amer 100
100* 103 « Gr Rap 1st 5s '15.F-A 95 102 Ceilulo'd Co
100
Hudson Co Gas
a list
100 135
138
Cent Fireworks com..100
33
100
102*- Indiana Lighting Co..100
35
Preferred
...100
4s 1958 op
75
64
73
65
Central Foundry
F-A
100
77
13
79*2 Indianapolis Gas
50
Preferred
100
.'St
Exc
1st g 5s 1952
79
85
A-0
Deb 6s 1919 op ’01.M-N
88
Jackson Gas 5s g '37. A-O / 88
91
92»- Chesebrough Mfg Co..100
100 105*2 IO553 City Investing Co_.—100
10412 105*2 2 Laclede (ias
• Preferred
104
100
80
102
L05*i
Preferred
100
23U
6s
Madison
Gas
1926.
103
A-O
108
23/*
3 Cl a til a (H Bj com
100
Newark Gas 6s 1944..Q-J
581? 59
128
130
e 1st preferred
100
ik Ex
Ist
Newark Conso’ Gas..100
96
98
e 2d preferred
100
107
• Con g
109
5s 1948...J-D 103*2 104*' Col 6s Hock Coal6sI pf 100
100
101
No Hudson L H A Pow—
1st g 5s 191/
J-J
60
5s 1938
A-0 no
Col tr 6s Oct 1958..J
77
Pacific lias A E, com .100
75
63*2 65
Oonsol Car Heating—.100
Preferred
.100
87h 88*;
Pat 3s Pas Gas &. Elec. 100
88
92
<*Con g 5s 1949
M-S
100
102
St Josenh Gs«
1«37 J-l
9 A>
90
1st mtge 6s 1922 ..M-N / 80
«Cen Pk N A E R stk ..100
15
Chr*t'r A 10th St stk.. 100
•Col A 9th Ave 5s See Stock
60
do bo Iren Land A
e 5s 1910
98
40
75
29
99
995s 100i8
98
$19,700
31,500 Hudson Companies—
6s Oct 15 1911
A-0
25,700
6s Feb 1 1913
F-A
32,800
18,100 Interb R Tg6s lull.M-N
Outside Securities
All bond prices
95,
30
65
28
95
..JI N
_
4
30
.....
Am Cig ser A 4s 11..M
Ser B 4s Mch 15 '12 M-S
Balt &Ohlo .^s 191."
Bethieh Steel 6s '14..M-N
Ohio A Alton 5s '13..M-S
Oln Ham A D 4s 1913.J-J
O C C A St L 5s, June '11
Week ending
Oct. 21 1910.
.
Short-Term Notes
Boston.
...
1st is 1920
As\
list
m
mtge 5s 1919..J-D
Union Ferry stock..100
$1,094,299,700
Ask
Industrial and Mi seel
Bid
Consol Rubber Tire.. 100
3*2
87
Preferred
83
.10
-1*2
123
Debenture 4s 1951 A-C
126
39*4
*
j Crucible Steel
10c
13
85l2 ft 8
40
e Preferred
50
too
79ij
73
78
Davb-Da!v Copper Co.!*
*2
• Diamond Match Co.lOO
75
92
76
7v
duPont(EI)deXemPj lOu 145
e
Preferred
82 :
3712 38l:
.......100
S Gold 4^1 1936.._J-L
68
84
1,9*2
Electric Boat
lOu
Preferred
__10u
84
87
id
.100
Empire Steel
117
Preferred .........10^
58
I18l2
9General Chemical...10j
105
65
e Preferred
10«
10*1
40
Gold Held Con Mines See S tk Ex
50
Gold HUl Copper ......
112
100
i
105
112
ireene-Cananea
20
*7*8
60
Guggenheim Expior'u lOu 190
j Hackensack
94
Water Oc
Bcf g 4s '52 op *12_.J-J
90
100
85
Hall Signal Co com.. 100
Havana Tobacoo Co—lOo
—4Preferred
93
loo
97
8
1st g 5s June 1 '22 J-D
20
28
55
55
decker-Jones-Jewell MU
65
1st 6s 1922
97
H :
103
101
35
der'g-Hall-Mar. new.ioo
1st
AT THE B03TON AND PHILADELPHIA
DAILY TRANSACTIONS
A Cable. 100
Central A So Amer..100
25
Comm't Un Tel <N Y).
•Pao Tetep A Teleg pf .100
Southern A Atlantic.. 25
1909.
1910.
e
Bmp A Bay State Tel.100
Jan. 1 to Oct. 21.
21.
1909.
1910.
Telegraph and Telephone
52.500
194,500
90,000
4,628,645 $422,039,0001 $16,711,000!
Total
United Elec ot N J...100
1st fs 4s 1949
.J-L
Western Power oom.lOu
Preferred
...too
V. S.
Bonds.
State
Bonds.
BUI
oago
22
115
105
110
100
265
‘270
*21*21 2178
n*lfl
1*8
10
60
Exc
100
25
7J
195
ist
*4
97
*11
*3*5**
83
205
5
102
11*8
*1*4|ii*ia
2*4
49
92i2
3
52
94
24
Pittsburgh Brewing.. 50 *23*2
Preferred
50 #_
|s42
Pittsburgh Coal—See Stk Exo list
Pope Mfg Co com
100
60
61*2
...
f 90
G9J
120
150
lk3
223
91
200
125
155
127
226
98
101
Preferred
100
Pratt 6b Whitney prer.100
Producers Oil
100
Realty Assoc (Bklyn).lOO $H8
Royal Bak Powd com. 100 19 )
Preferred
5
20
2*5
117
100
95
& Ex
100
60
200
*4!o
424
38
98
97
2
23*2
87*2
10
19
67*2
120
102
105
list
102
...
f-
»
<
Tonopah Min (Nevada)
3*?
05
140
130
•
/
45
40
.
68
108
106
05
98
+ mm
s
fir
43
4
45
20
99
51
104
102
*42*2
*50
62
101
e Preferred
.....100
United Copper
100
4^4
Preferred
.100
13
U S Casualty
100 215
U S Envelope com...100
60
Preferred
too 104
U S Finishing
...100
95
Preferred
100 ice
1st g 5s 1919
J-J tup
Cong 5s 192 0
..J-J
95
U S Steel CorporationCol tr s f 5s ’51 opt *11
114
Col tr s f 5s ’51 not op‘. 114
U S Tit Gu 6; Indem—100
85
•Utah Copper Co—See Stk Exc
Westchester 6b Bronx Tit
6b Mtge Guar
...100 169
.......
•
1 •1
m
...
*8*4
...
1 O,
~
Directory
100
Underwood Typevv pf 100
Union Typewriter com 100
1st preferred ......100
2d preferred
100
Un’tca Bk Note Corp. 50
Preferred
50
United Cigar Mfrs—_. 100
Trow
7*4
/
loo
Preferred, new
20m
91
1
Trenton Potteries 00m 100
*7ls
35*
‘
il*
-
*19*4
2*2
700
63
10 i
10)
90
325
9
107
131
60
....
104
/
«
:oo
..
103
127
104
129
8J
05
150
121
Preferred
100
is
21
Standard Cordage
..100
*2
1st M g 5s '31 red.A-O /15
71
20
Adjust M 5s Apr 1 1931
2u6
/a
5
40
5*4 Standard Coupler com 100
Preferred
—100 100
426
Standard Milling Co..100
16
42
*1*8* *
100
Pre'erred
102
52
1st 5S 1930
M IN
83
100
»r
Standard Oil ot N J..100 608
3
611 I.
Swift
6b
Co—See
Boat
Stk
Exc
list
25*2
1st 5s—Sre Chic Stock
Exc list
89
Texas Company—See Stk Exch list
e Texas 6b Pacific Coal 100
100
105
137
68*2 Title Ins Co of N Y...100 130
40
100
list
130
122
250
116
56
125
100
...
Safety Car Heat 6b Lt.100
Seneca Miung
25
Singer Mfg Co
100
South Iron 6b S com ..100
90
tk Ex
124
118
240
115
«...
r, 8
100
145
8*1
8
55
30
lOOlj
53
108
105
46
•r 2
64
K8
n47a
20
112
1100
111
105
100
115
115
105
list
1170
Westing h’so Air Brake.50 042*21
West ES 6» Mfg 5s—SscStk Exc 1 1st
vVorthlng Pump pret-lOo loe llo
Sale price,
*g
Ex-div.
y
Ex-rights.
BOSTON STOCK EXCHANGE—Stock
Record, Daily, Weekly and Yearly
SHARE PRICES—NOT PER CENTUM
PRICES
Saturday
Monday
Oct. 15.
Tuesday
Oct. 17.
10334 10334
Wednesday
Oct. 18.
*105
10512
10U2 10U2
Thursday
Oct. 19.
Sales
of the
Week
Shares
Friday
Oct 20
Oct 21
STOCKS
„
Range Since Jan. 1
BOSTON STOCK
EXCHANGE
Lowest
Topl^Santa
105
105% *10434 105
103% 105*2
10078 100% *100% 101% *100% 101%
225
105
105
464 Atch
100*4 IOO84
Fe.100
101
101
68
223
223
224
Do pref
225
.100
225
225
225
225
225
225
225
741 Boston &
128
128
12812
Albany....100
128i4 128% 128*2 128 128% 127*2 12734 128
128
745 Boston F.levated
*215
219
215
215
100
*215
219
215
215
*215
*215
315 Boston A) Lowell
13412 135
135
135
...100
134
134
133
135
134
134%
135
115
Boston
134%
*288
4c
290 h*
Maine
100
290
290
*280
290
Last Sale 292
Oct’10
Boston &
*13% 15% *13l2 15% *13*2 15%
Providence. 100
Last Sale 15
*13*2
15%
Boston
Sept’10
*70
74
*70
Suburban El Cos
74
*70
74
*70
74
71
72
*70
74
Do
60
pr el
*1014 10l2
1014 IOI4 I*.... 10% *.... 10% *..._ 10% *---.
50 Boston & Wore
10%
*38l4 .... *38i4
Efeo’CcsI
*39
*38%
41
41
*39%
45
Do
pref
156l4 156l4 *.... 156 *.... 156 *
153
*-..- 155
*....
10
Chic
156%
June
*112
♦112
118
Ry A USY.IOO
*112
118
*110
114
Last Sale 112
Oct’10
*255
260
*255
260
260
pref
100
260
*255
270 *255
265
260
260
’25 ,Connecticut
*128
12812 128 12814 128*2 128*2 *129 130
River... 100
129
129
110 Fitchburg’,
129% 130
*118
119
♦.... 122
pref...
100
120
120
120
120
120
121*2 *120% 122
232 Ga Ry &
*86
87
87
*87
Electric.100
*87
*87
87
87
Do
8
*206
pref
*208
100
*208
210
210
*208
*208
Maine
9
20U 20i2
20
100
20%
20*4 20*2
20*4 20%
20
20% 20*4
Mass Electric Cos
20%
1,835
85
85
100
8412 85
84% 85
85
8434 84%
85
84
Do
878
8434
pref.
15434 155
100
15412 1 553s 154% 155
154% 15434 154*2 1 5434 154*2 154%
884
"
100
Last Sale 140
Sept’10
Northern
N H
100
Last Sale 210
June’10
185
185 *185 186
186
& Wor pretllOo
186
189
*182
*185
189
187
187
29 Old Colony
*2612 28
*26
*26*2 28
28
..100
28
28
32
32
34
340 Rutland pref
37*4
*104
*103*2
*105
100
*105
Last Sale 103
Seattle Electric
Aug’10
*101
102
*101
102
102
100
102
102
102" 102 102
102
102
Do
27
171% 17334 17412 175
174
ZIIl 00
174% 173 17334 17334 175% 175% 176% 1.445 Urdon pref
Pacific
*92% 93*2
93*4 93*4 *93*4 94% *93
100
94
*93
94
Do
*92*4
36
154
9334
154
pref
100
*154
2 Vermont &
85
85
85*4 86*2
Mass..
100
86
8578 86*2
86*4
85*2
*102
85% 1,124 West End St
*102
102
50
102
103*2 103*2 103*4 103% *103% 105
Do
13
....
..
xl22
Jan
Apr
35
139
109
260
Aug 29
Sep 16
48
104
85
jan
202
Feb 10
...
£ Hartford!
....
*46*2 47
10134 10134
*5
5*8
1534 1534
118
118*2
116
46% 47%
10134 102*4
5*4
5*4
14
119
116
15
120
116*2 117
13834 140
3234 3234
96% 96*2
138% 139
3134 3134
9534 96*2
*10
♦5
*144
18*2
6
150
834
18*2
*5
*144
*8
9
*262
47*2 4834
10134 102%
5%
5*4
15
1534
119% 119%
6
150
9
117
139
*32
*5%
110
112
133*2 133*2
*92
165
96
*107
*110
*133
*92
16534
*-.-.
103
1033s
*30’2
28
197
57%
*-
57%
28
28
74% 76
11978 120
*17
*8
5734
58
28
28
*17
*83
8%
10*4
*44*2
68%
27%
31
29
199
11
46
8*4
11%
69*4
27%
27
27
42%
17%
7%
42%
*.50
.60
*.50
15%
5%
15%
15%
5*4
19*2
5*8
20
♦22*2
*.06
68
4%
7%
*.15
11
8
32
8
26%
16
2234
4
21%
5*4
10*4
33
8%
6%
3*2
36%
10%
9%
*.40
*.30
20
*5
20*4
*1%
1%
11% 11%
*178
2%
61% 61%
8
8
13*2
*60*2
13%
61
5*2
40%
40
4878
*3%
25*2 24
6O84 61%
|4
3%
9*4
130
1%
A
0... °
3%
9%
133
1*2
11
10*8
.50
.35
20%
5*8
8%
8*2
*14
76
21
38%
61*2
22%
5*4
10%
34%
*13*2
....
6%
3%
51%
21%
5*4
10%
33%
8%
131
39_
20
20%
60
61
560
560
22
22%
*.06
.08
69
71
4
4
23
9
*.25
.50
40
40
131
131
5%
15%
5%
28
11
10
.50
.35
20
5
51
40
16*2
28%
2*4
1634
*10*2
9%
9
15*2
5*2
34
35*4
5*4
10%
32%
8%
15%
5%
34
8
35
9
8%
8*s
11%
8%
35
7%
2%
6%
*31"
37*9
10%
934
*.40
.20
20
4%
51*2
2134
5
10*2
32%
8*2
8%
7%
2£34
23g
1734
23%
C34
11
10
.50
.30
20*4
51*2
22%
6*8
10*2
33%
9%
.40
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40%
40%
4038
40*2
21%
*1%
11%
1%
61%
7%
13%
22%
1%
12
2
53
8
13%
60
6
60
61"
40%
39*2
48%
40*8
3934
48%
3*2
3*2
24%
25
51
51%
3%
3*8
9*2
130
‘
9*2
132
132
14
76
21%
*1%
11*4
1%
52
7%
13
60
6
40
39%
49
3*2
24%
51%
3
9%
131
2134
*.06
70*2
133
14
77
221"
1%
12%
1%
62*4
7%
13%
60
6*4
40*4
40
49
4
24%
51%
3
10%
131
559%
22%
.08
71
*4
4*2
8%
8%
11*4
7%
34
11*2
8*8
35
7%
28*8
2*8
16%
2*8
16*4
23
23
37%
11
29
39
11
*2%
16
22
6%
3%
38
11
934
32
8%
8*2
.50
40*2
132
14*4
5
.50 *.50
40
132
131
14%
77
21%
*1%
21*2
1%
12
12
1S4
51*2
7%
1%
51%
13
61
6
40*2
3984
4834
3%
8
13*8
61
6*8
41%
40
49
3%
24
24
6O84
51*2
3%
10*4
*3
10
130
21%
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10%
3134
8%
838
40*2
77
130
1378
76
21
1%
11%
134
52*2
734
13
5934
6
41%
39%
49
334
24
51
*3
10
130
11%
734
28*2
2%
16%
22%
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3%
39%
11
8
34
7%
28%
2%
16
22%
6%
3%
38%
11
9%
19
90
Oct’10
.40
.20
20%
5
Mexican
N
E
Do
1
100
100
N E
Telephone..
pref
100
Telephone
...100
Pacific Coast Power. ~10u
Pullman Co....
100
Torrlngton
25
25
100
Do
pref...
United Fruit.
Un Shoe Mach
Corp.. 23
Do
pref
23
U b Steel
Corp*
100
Do
pref..
100
West Telep A
Teleg..l0(
Do
pref
...100
.
..
—
5 Anaconda
26
187ft 10,242 Arizona Commercial- 25
Atlantic
9*4 3,559
25
.60
150 Bonanza Dev Co
..10
1634 5,405 Bos ACorbCop &SllMg
5
53^
61
2,442 Butte-Balaklava Oop. 10
1,975 Butte Coalition
16
1,046 Calumet A Arizona.. 10
38 Calumet & Heel a
25
835 Centennial
25
Cons Mercur Gold..
1
2~916 Copper Range Con Co 100
305
4,751
1134 1,961
8*s 12,173
35
7*2
28%
2*8
16%
22*2
6%
3%
39*2
11
934
.35
.10
20*8
5%
.36
.15
20*4
5*2
Daly-West..
20
East Butte Cop Min__ 10
Elm River
12
Franklin
25
Giroux Consolidated.
6
....
1,075 Granby Consolidated. 100
3,170 Greene Cananea
20
6,165 Hancock Consolidated 25
570 Helvetia Copper
25
6.423 Indiana Mining
25
1,426 isle Royale Copper.. 25
657 Kerr Lake.
5
460 Keweenaw Copper
25
Lake
15,709
Copper Co
23
1,060 La Salle Copper..... 25
1,735 Mass Consol....
25
...
-
15
Mayflower
25
;
1,815 Mexico Cons M A S-. 10
2,881 Miami Copper..
...
5
995 Michigan .......
400 Mohawk.
5134
51
51
22
2178
22*4 13,566 Nevada Consolidated.
5
320 New Arcadian Copper
11% 1,215 Nlplssln? Mines
3334 23,693 North Butte
9% 4.423 North Lake
S~8 1,280 Oiibway Mining.....
5*8
11%
33%
9
5
11
3234
9
834
.51
41
131
137#
834
.50
41
132
14
...
.50
41
132
14
76
21%
21
1%
12%
*1%
134
62*2
7%
62%
13
60
13%
6%
4134
40
49
37ft
24
61%
3%
10
130
12
778
*60
6
41%
40
49
37ft
24
3
10
_
_
2l7g
1*4
12%
900
846
934
161
86
Old Colony
Old Dominion Co
&
25
5
15
25
25
25
25
25
Osceola
Parrot Silver
25
25
5
Oop. 10
Oulncy
26
7,389 Ray Consol Copper.. 10
100 Santa Fe Gold A Cop. 10
.....
4,680 Shannon
955 South Utah M A S...
1,277 Superior
1,140 Superior & Boston Min
4,090 Supenor&Pitts Copp.
...
10
5
25
62*4
778
10
13*4
10
82 Tamarack
61*2
26
6*2 2,432 Trinity
25
4178 8,710 UnltedStatesCoal&Oil 25
..........
41%
49*$
37ft
24*2
3
1034
1*4
"
*e
9,762 U S Smelt Ref & Min. 50
Do
1,935
pref.
50
3,580 Utah-Apex Mining...
5
1,427 Utah Consolidated...
t
1,034 Utah Copper Co..... 10
115 Victoria
26
.......
2,855 Winona
25
...
83
785
*
....
Wolverine....
Wyandot...
a New stock,
^
e
mm
mm
mm
mm
•
mm mm
Ass’t paid.
mm
mm
25
••
25
13
r.114
6
ill/
245
t6
97
222
Oct Ll
124
115
Jan 3
Jan 11
Men-2
J’ne3o
11% Jan 15
14
31
Jan 15
J’ly
J’ly 9
200
Sep U)
7134 Apr 18
-
31
J’ly 26
J’iyzu
Jan
4
9034Jan
3
125% Jan
r,
94
J’ly 13
Sep 21
31
J’ly 13
65% J’ly 12
19*2 J’iy 26
36
j’ly 13
12% May 4
4
10
10
68
.70
May 4
5% Oct 4
16*»8 J’ne3u
44% J’ly 12
500 J’ly 6
13*2 J’ly 16
.04
J’ly t
103
685
38
.15
85
9
Feb 17
J’ly 6
6% Sep 29
14% J ly 15
20
6
,25
J'ly
12
J’ly
66
J’ly
15% J'ly
114
Feb
Jan
75
9*4 Jan
100
20*9
Jau
May
24% Jan
120*2 Jan
Mch
x54
83% Dec
97
Apr
220*4 Dec
3t4 Oct
125
118
139
108
199
Feb
6% Jan
76 Mch
107
3
6
Jan
Jan
7
4
8% Jan 21
75
Jan 22
Jan 11
27%
10% Jan 12
12
May2f>
60
Jan
3
25% Mch 7
12% Jan 14
1% Feb 1
55
166
6
6
92
Jan
Dec
Nov
Deo
131
1J
96
Oct
Deo
Deo
Oct
31% Sep
94% Oct
10*2 May
18
Jan
96% NOV
40*2 Deo
Mch
51% Deo
J'ly
Feb
17% J’ly
8
Sep
21% Feb
96*4 May
Feb
Feb
J ne
585
29
.10
68*2 Feb
7% May
7*2 Feb
Oct
Feb
1
13
7% J’ne
Feb
Feb
90
9
Jan
16
10% J’ly
4% Mch
.30
Apr
312
12%
5*4
x57%
16*2
Apr
Feb
Oct
J ly
Feb
3*2 Nov
97* Oct
Dec
4*2 Mch
6*4 Nov
.40 J'ne
47
Feb
Dec
Deo
1% Nov
13*2 Feb
34
Jan 12
16% Jan lu
78
Jan b
11% Jan 3
13% Nov
12% Apr
62
J’ly
9% Dec
41% Oct 21
28
55
39
44
4
Jan
X
63% Jan
5% Jan
3
3
Jan
3
46
00*2 Jan 3
5*4 Jan 14
15
150
Jan 14
Jan 8
3*4 Jan
Jj|
h>
14
■
rights,
a
Oct
54
Feb
3% Jan 19
G8% Jan 14
18
h Ex
Feb
30
8
.45
83
Mch
24% Mch
2% Jan
t
62
38% Feb
122
19
21% Jan
9
Jau
47% Feb
Jan
Sep
Oct
34
35
170
71
4% Oct
65
23
Oct
Oct
Aug
12
Sep
114*9 Aug
28*2 Jan
41% Feb
22% Apr
7*2 Apr
2*2 May
29
J’ly 15
%3
-
lu
3
10% Oct 13
1% Jan 13
7% J’ly 14
6 Ex-stock dlv.
126*4 Jan
168
3
Jan
b
Jan
14
6*4
94%Jan 22
19
Jan 14
27
J’ly 6
45*2 J’ne22
4*4 J’ly 18
33
Mch 31
33*2 J’ly 20
4534 J’ly 20
2% J ly 22
18% J’ne30
A39% J’nooO
2*2 J’ly 22
6 J’ly 13
102
J’ly 12
1% J'ly
J dbi\J
26
3
18
11
1
1% SeD 29
834 J’ly 6
1% J’ueao
36
Jan
8% Sep
5*2 Dec
578
Oct 21
Oct 21
J ly is
J’ly 12
j’ly 26
J’ly 6
J’ly 13
Jan 17
J’neoo
J’ly 13
Sep 7
Aug 6
29% J'ne 15
%Mch28
44%
28% Jan
13*2 May 2
Sep 1
3
J’ly 7
28*2 J’ly 15
9
J’ly 28
4*2 Men 8
6%
Apr
Jan 12
Jan 4
Mch t
J’neli
x6
18
Jan 3
Jan 3
Jan
3
Jan 16
Jan 3
36
J’ly lb
17%
3*2
934
Mch 2 s
13% Jan
2*2 Feb
22% Mch
12% Jan
111% Jan
11% Jan
.05 Oct 11
9% J neao
6
J’ly 26
3%
Jau
-
24% Jan 13
1S% Mayrs
28*2 Jan 3
3*2 Sep 28
6% J’ly 13
43
Jan
Jau
Jan
2
J’ne
12% s«5b
51*2 Aug
8*4 Oct
147% NOV
13% J’ne
260
Apr
173
Aug
Apr
68
93
1
Feb
Jan
Jan
Jan
Jan
9034
3
40*2
8
6334
3
50*4
3
12% Jan 14
10
.35
.10
17
40% Aug
108
Jan
89
.
Feb
145% Sep
Jan
Apr
Apr
1434 Sep 15
J'ne3o
Mch u
2
10
Jan
22*2 Nov
Apr
Apr
136
131
202*2 Men
1j34 Sep 30
*
50% Aug
J'ly
9% Feb
105
Jan
59
Aug
218*4 Aug
117% Aug
175
Apr
98*3 Apr
112
Apr
150% Feb
3
Jan 16
Aug 15
68
93%
4%
J5%
3%
34%,) an
3
May «
Feb i
Ao
Oct
10U3jjan lu
Mch
5
Jail
5
Feb 11
107
2719 Feb
Men 18
138% Mchll
200
Jan 24
o
Oct 18
G34 May iu
100
153
Oct 10
160*2 Jan
Jkie
Jan
27-J
•
40
117% Aug
Nov
Nov
Feb 8
May 16
3
....
20%
2
124
Jan 2b
J’ly -6
Sep 22
99*2 Aug 3
129*2 Aug 17
Mining
J
5,054 Adventure Con
25
12% 2,895 Algomah Mining
....26
44*9
179 Ailouez
25
7178 17,078 Amalgamated Copper" 100
1,355 Am Zinc Lead & Sm_. 25
Feb U
Aug
Sep
200% Jan
6% J an
127% Mch
Mch
174% J’ne
Jan
94
Oct
Nov
149
215
33<4 Jan
125
7
28
2% Jan
111
14
81
Oct
28 Jan 0
8*9 Jan U
Ape 14
107
165*2
46-%
25%
6138
102
152% Mch
11%Jan 3
J’ly
4
28
27
Feb 10
125% Feb
214% Jan
100
Jan
Jan
Feb
Dec
19
84
Nov
88
Mch
195% Jan
Feb
Apr
Dec
Apr
165
J’ly
88*2 Sep
Oct
1433g Feb >1
39% Mch 15
104% Mch23
11*2 Jan 7
94
Reece
Button-Hole.I 10
Swift & Co
100
24
Jan
Jan
8
J'ne
162
123
275
136
103
Nov
rl72% Feb
93*2 Mch
49*2 Oct 20
105
Sep ic
8% Feb i i
Maylt
4*2 J’ly 28
89
.
95% Mch
14*2 Mch
55*4 Oct
90*4 Mch
97*-> Apr
i.
3
3
Jan 17
168
77*2 Nov
Jan
200
190
26
7
Mch
§ep
.Jau
(H53
146
a*
4>1U
109
7
1
Mch 18
7
16
10
Cotton Yam... 100
9*8
9*2
1*2
1*2
1%
1*2
*1% —181.
1*4
1*4
1*4
^
0r° Pay * 01
oaued in i»09. * Bid and asked prices,
79% 33,600
298
120%
5*4
20*8
5934
8*8
9%
22*8
1034
33%
9%
8*2
151
150
1134
51
5
534
1934
34
21%
10%
1,414
pref
Uergenthaier Lino
...
60
560
1134
7%
28
386
75
254
172
70
1.046
28*o
18
83«
8
.60 *.50
16
16%
34
7%
60
211
52
35
69
40
195*2
577g
70*4
—
Do
570
29
44
3
2d
_
30%
8%
12%
111% Oct
127% J’ly
26
J’ly
91
J’ly
MCU
Jan
204% Jan
103% Jan
27
Mch 3 *
Aug 2
3
.
vec
11*4 Jan
58<2 Jan
37% Oct 21
26
6
Oct
Apr
Deo
Mch
Nov
Jan
Feb
135
235
153
301
22
Jan
/5
79
195
J’ne
239*4 Apr
128*2 NOV
‘
3
Mch U
110
100
J’ly 15
Boston Land...
" 10
Cumb Telep &
TelegllOO 138*2
250 Last Boston Land-.
7%
167 Edison E'ec Ilium.."lOO 1239
249 General Electric
100 135
7,084 MassachusettsGasCos" 100
76*4
103%
555
557
22
22%
22
Last Sale .10
Aug’10
71
72
72%
72*2
4
4
*4
4%
8%
8%
9
8%
.45 *.25
.20 *.10
20
20
5
478
51
51%
47g
577ft
28*2
78%
120%
Jly
14
111
.
166
13
22%
634
3°8
934
*.35
*.10
20
557
7%
6%
3%
5
*.35
132
15
76
550
5%
1G34
59*2
20
GO
59*4
4
3834
534
20
8*2
9
.40
76
1834
8
.50 *.50
16
16*8
il34
16
23
17%
7*2
.60
11%
8*4
2%
69%
27%
18%
11%
2%
71%
2734
44%
71%
27*2
*
1734
20*4
61%
53
29
787"
9
12
69%
27*2
*23
195
36
98%
4%
532
Do pref,
"100
75 Atl Gulf &WISSL.100
Do
265
100
pref
135%
30%
28*o
196
8*4
*7
.50
6
31
12
8
.60
.15
27
8%
1234
1834
.15
8
2734
10338
*17
19
19
Last Sale 90
18%
560
32*2
7%
71%
*94
165
13
103
13
119% 120%
19
90
*7
*.50
69%
434
8%
8
33
8
27
119%
46
135%
96
13
103
31
28
195
58
*28
76
58
29
77
834
34
97
10
19*
9634
165*2 166
197
12
44
45*2
96
8
68%
4%
7*2
11%
9
13
140%
33
135% 135%
96
166
13
103*9
31
29
*28
195
58
*28
76
119*
*17
*85
32%
96"s
117
*10
10
19
19
19*2
Last Sale
July’10
Last Sale 143
Sept’10
9
266
266
266
266
154
155
155
156%
85*8 85%
88
8534
96
95% 95%
96
220
220
*220
225
*534
6
6
*534
112
112
*110
112
*107
112
*110
112
18%
68*4
4%
16
*50
21
834
12%
45*2
70*4
27*4
.03
23*2
67g
5
19
90
23%
1578
.35
.
23*4
7%
28*2
76% 77%
119"g 120
*.06
23*2
*6%
*3*2
19*2
60
*550
134% 13434
*93
165
13
31
198
58
29
.08
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*.40
13%
10338
8%
12%
71%
17%
7%
550
23*9
*12%
*17
*85
70%
17%
*7%
60*2
96
165
46
....
20
60
550
134*2 134%
103
224
6
112
110
112
110
*93
164
196
58
*28
19
90
♦
111
110
119
116*2
139%
140
32*2
96*2
5
16
.
96
*534
5
*15
119
so
Agricuf SheoL
4,050 Amcr
100
Do
642
pref
100
121 Amer Pneu Service
50
Do
490
pref.
50
796 Amer Sugar Refln
IlOO
Do
331
pref
100
5,934 AmerTelep & Te)eg_.100
171 American woolen.
100
49*2
102*2
....
8578
*221
534
*30*2
28*2
75% 775;
119% 120*2
19
90
*85
96
197
222
85*2
95%
49%
102%
5
139
9634
*10
*19
*5
6
*144
150
*8*0
9
263 “ 266
155
156
49%
102%
1534
11S34 119
116*2 117
33
96%
8534
95*2
111
110
....
— .
154
222
112
112
31
28
197
266
534
103% 103*2
31
85S
8434
94*2
6
165*2 16534
14
150
265
154
....
6
6
8%
26512 266
154*2 155
15434 155
84
84
84% 8434
93% 9334
94
9412
*220
*220'x
....
....
1534
119%
*32
,
....
4834
102
5
*15
116% 117
139
139%
13934
33
9612 9G34
2G6
6
109
*110
*15
118
117
*10
♦19
*5
*144
pref
48
48%
10134 102%
Oct 1
14-% Aug25
_
Sep
Jly
v
Oct
126% Oct
106
Jan
143
115
267
Oct 14
212
:‘00
Alay
83
99
Jan
90
210
26 %
88
162%
98% Aug
153*4 J’ly 26
89% J’ly 26
151
Oct 15
86**4 ”85%
8
121% Oct 2*
Augl8
103
Jan
Jan
Jan
U% Jrau
60*2 Jan
10 May
4(5% Dec
Mch 16
133*2 Jan 8
Apr
26
...
98
295
156% Oct 15
118
270
14*4 J’ly id
75
J’ly
149
Apr 28
139% Mchll
210
Mayl181*4 Sep 14
(N4.0.rw*oh
jai
Highest
100*4
225
124%
228*2
1.32%
16% Sep 30
Oct
Oct 13
124*4 Sep 21
...
3
_
8
...
Feb 24
Feb
Jan 2b
152
76
Do
Central..
22/
.
70
...
...
135% Jan
208
16
_
...
Jan lo
Oct
J’nelo
J’ly 21
Mch
...
....
234
Aug
J’ly
Sep 28
200
132
285
14
Lowest
123% Jan
104% Jan
97*o Aug
218 J 'no 10
.
...
Highest
91% J’ly 20
„
Range for Precious Yeas
(1909)
Jan
Jan
Feb
jan
Oet
37% Feb
39% Feb
3
Oct
4*4 Apr
139
2
Mch
Oct
mj W
Deo
18
.80
Jan
May
Dec
24
11% Deo
33% Nov
Jan
119
695
Aug
44% Sep
Jan
.35
86*4 Nov
12
Mch
16% Apr
2% Jan
19
Aug
12% NOV
110% Deo
14% Nov
Dec
38
7*2 Aug
33% Feb
9% Aug
c7% Deo
74% Deo
19% Deo
18% May
Deo
Nov
1
6
28% Deo
13% Mch
70% Jan
30
Nov
8% Dee
13
Sep
85*4 Jan
11% Aug
14% Deo
£0
69
170
Deo
Aug
Deo
36% J’ne
Jan
99
Jan
.3 Jan
Dee
67
18*2 May
18*2 J’lr
90
Feb
17% Jan
39% Nov !
8.83 1
6*4 Jen
49*4 Nov
v66
6
Nov
Dee
<13% Dee
Aug
168
4
•
Jen
“
Ex-dlv. and rights.
Oot. 22
non i>s*
•S'?
BOSTON STOCK EXCH’GE
WKKK ENDOW OCX 21
Brice
Week?*
Friday
Oct 21
Range or
BON U»
^3II
oS:l
Range
[January l
Loti Sale
J’ly 1995 M-N
Stamped
1956. J -D
60-year conv 4s
10-year conv 5s...
1917 J-D
AtlGuh&W IBS Lines5s.,59 j-j
Boston Elect L consol 5s. 1924 M-S
Boston A Dowell 4S
.1916 J - J
102*« J’ly’10
117*3 Fen'IO
Boston Terminal 1st 9*38.1947 F-A
Bur & MoBiv cons6s ....1918 J-J
Butte (ft Boston 1st 6s....1917 A-O
Butte Elec&Pow 1stg5s. 1951 J-D
Ceiiar Rap A Mo II 1st 7s.l910jM-N
87*8
101 '*4
99
101»4
88
98
A-O
M-N
1915 M-S
Fitenburg 4s
99
89
....
93*8
1933'A-O
Unstamped 1st 6s
96*« Sale
95*4 .....
GtNoiUB A (j coll tr481921 J - J
Registered 4s
192i|Q-J
fc(>*8
12 100
89
100
96*3 J’ne’10
103*8 Api ’05
******
Tuesday
Oet 18
17
•19
*87*3 40
15 ~ 15
L2d»4 L27
20
20*4
40
......
96*3
,1*8*4
‘*94*4
*
25*9
41*9
41
......
Thursday
KYiday
Oct 12
Oct 20
Oct 21
127*4
20*9
*
42
15
*62
I
#••••*
21
21*4
42*9
44
15
*
•19
44
•11*3
00*9
81
77
«8^b
24*9
93*4
43
44*4
12
50 7s
31*4
77?
*2*4*4
03B4
8i7s 82a4
65*8
46
65*4
16<fe
16*4
46
26
*ll\
12
61
33
50*9
31*4
1504
10
19
10
75
♦a1*
43;«8
83*4
76*8
76
874
43*8
63*8
44*h
43*4 44*4
*11°4 12
bO*t 5U*4
32
3m
77*4 78*9
•0
10*4
24*9 24*4
04
04
83*9
66*4
82*9
46*4
15*4
19*4
76's
b°k
•45*4
15*4
43*4 44
63*9 63*4
PHILADELPHIA
26*4
43
43
77*e 76*4
*0
10*4
24*4 24 7s
03*9
82*9
65*4
•46*4
25*4 23
66
05
847e
66«xe
46*4
15*4
19*4
*42
•14*
10
*6*4
10
24*4
23 7a
95
24
05
95
95
15*4 15«fc
18
Bid
Ask
76
25
43
83*8 85*4
65 7s 66^8
45*4 46
64*4 85*4
66*4 66®xe
46
46
16<^ 15*4
18
19*4
83
0
83
::::::
45
T
20
10*4
......
b*4
83
PHILADELPHIA
interest."
Alt JbLVElec 4 *as’33.F-A
1 Am Gas A Elec 6s’07. F-A
i Aui leys conv os 1011. J-D
Atl City 1st 5s g ’19.M-N
Berg* EBrw 1st 6s’21 J-J
Be till e Steel 6s 1008.<J-F
Choc (to Me 1st 5s 1940 J-J
Ch ok <fc G gen 5s'10 J-J
Col St Ry 1st con 5s 1032
ConTracofNJ lst6s.’33
E & A 1st M 5s 1020 M-N
Elec A Peo Tr stk tr ctfs
Eq 11 Gas-L 1st g 5s 1028
Indianapolis Ry 4s. 1933
33
Interstate4s 1943 ..F-A
4
Lelugh Nav 4*se ’14.Q-J
RRS 4s g
1914.U-F
5
15*9
15
61*4
127
.T——
lO0*3
110
41*9 42
......
b2*»
......
Preierred
Union Tr of Ind..
240
•
10*4
35
63
•
• • • •
11*4
37
64
••••••
Filkes Gas A
•Bid and asked; no sales on this day.
Gen M 4^as g. 1924.Q-F
Leh V C 1st os g ’33.. J-J
Leh V ext 4s 1st1048.J-D
2d 7s 1010
M-S
J-D
Consol 6s 1023
Annuity 6s
J-D
Gen cons 4s 2003.M-N
Leh V Tran con 4s ’35J-D
1st series B 6s 1035.M-S
N ew Con Gas os 1048 J -D
Newark Pass con 5s 1030
967s 102
131
987s Sep ’001
11378 Aug’10
Mar’lo!
90
103 *8 Sep’10
107 *a .\ov’05
102 “a
135
11374 116^
93*3 99
103*8 103*4
Mai’02
78*3 Apr’10 ,...! 78*8 78*8
103 *8 Sep’10 ...'103
104*4
19 i 68
110
95
97
102
M-N
J -J
M-S
97
J- J
97 *8 Sale
160
Apr’07
100*, Mar’10 ....<1100*4
10l*s Oct ’10 ,...'! 99 7„
I047s
1U47* 20Tu4T®
97
97 *8 11.1 95**
153
Oct ’10 .—.*4140
104*s Oct TO ...<101 *3
1
97
93*4 J’ly’io1
101 *4 J’ne’09; ....l
I 98 *9
98*a Apr’10
i 97
98*a
93 *8
95*4
97*4 49 04*9
94*a Jan’lo !....< 9i;i4
J-J
165
97 *4 Sait.
100*4
101*4
109®4
97*a
166
105*3
08*4
09*8
9J
90
94*8
i_i
Bonds. * No price Friday; latest bid and asked.
1 Fiat price.
Range for BrevUms
Year (1202)
Range Since
(For Bonds and Inactive
Stocks see belowj
Jan 1
|
Lowest
Lowest
Highest
Do
prel.
312'.
.100 80
50115
44*3
49
49
20 United
Railways....
2,446 Gambna Steel
32
33*4
78*4 80
*8*4
24*4 247s
143 Electric Co of America
637. Elec Storage Battery.. 100
7,820
2,7b0
Asphalt tr otts ....100
prel tr ctfs ....100
Do
Keystone Telephone... 50
Lake Superior Corp....lou
Jan 7 06 Jan
J’ne3u 123
008 Lemgh C A Nav tr ctfs. 50 86
9i7s 95 <4
85*9 85*9 61.803 Lelugh Valley
50 62 »a J’ly 27 121*4 Marl 8 67 Feb
66
50 61*1x4 J’ly 26 69*iaMar 9 63*4 Feb
667xb 3.641 Pennsylvania RR
383 Philadelp’aCo(PiUsb). 60 42 J’ne3u 63 *4 Jan 8 ,40*3 Feb
45*4 46
1,313
2,979 Philadelphia Electric [|. 26 $1374 tfeo 3 16*« Mar 18
Phils Rapid Transit... 50 15
Apr 26 23*aJeu 3
50 65*a J’ly26 86 Feb lb
77*s 78*x« 16,335 Reading
6*8
Jan 2r 0iieMayl3
65* Tonopan Mining
1
8»ra
50 41*8 J’ly 26 52°4 jau 6
42^4 43
3,304 U uion Traction
83 *9 2,453 United Gas lmpt
50 79 J’ly 26 y 5 *s Jan 10
83
15*9
15°6
18*4
18^ 10.512
PHILADELPHIA
Bid 1 Ask
92
81
83*a
114
103
103
106*8
86*4
87
105*8
*60**
100*4
116*9
97*4
97>s
03*8
76**
76*4
108
100*4
f $12*4 paid,
|
J
115*4
Spanish-Ain Ir 6s ’27 J-J
U Trac Ind gen 5s'10.J-J
Un Rys Tr ctls 4s’40J(toJ
United Rys Inv 1st coll tr
74
si os 1926
M-N
U Trac Pit gen 5s ’97 J -J
Welsbach s 15s 1930.J-D
Wlks-B G(fcE oon5s’55J-J
BALTIMORE
Inactive Stocks
Ala Cons Uoahto lion. 100
Pret
100
Atlanta A Charlotte., loo
Allan Coast L (Conn)lot)
Canton Co...
100
Cons Cot Duck Corp...50
60
Preierred
Georgia bou A Fla... 100
1st pref
loo
2d pref
100
G-B-b Brewing
100
lol *4
....
101*4
9y;*4
100
*3* 102
81
88*9
Brices are all “ and
interest.*»
Anacosua A Pot 5s
Atl Coast L(Ct)otfa 6s J-D
Ctls of indebt 48....J-J
6-20 yr 4s 1925
J-J
Chari C & a
2d7sTOA-U|
City & Sub 1st 5s..’22 J -D
City & Sub( Was>l8t6»’46,
Coal (to 1 Ky 1st os *20F-A
CoicfcGrnv 1st68.1916 J-J j
Consol Gas os..1939 J-D
Ctfs indebt 4*98
J-Ji
Cons GE&P4ms’35.J-j;
Fair<fe ciTr xstos ’38.A-0
Ga (to Ala 1st con 6s *4oJ -J
Ga Car A N 1st 5s g ’29 J-J
l»7*.
101
81*9 Georgia P 1st 6s...’22 J -J
GaSo <to Fla 1st 5s 1045J -J
89*4 G-B-S Brew 3-48 1951M-S
2d income 5s 1051 M-N
Knoxv Trac 1st 5s ’28A-U
LakeR El 1st
67
MetSU Wasli)l8t58’25F A
Mt Ver Cot Duck 1st 5s.
213
NptN(fcO P1815s’38 M-N
118
4*9
18
30
5
21
01*9
05
1
2
100*4 101
—
BaltcPass 1st6s’ll M-N
Balt Fundg 68.1916 M-N
Exchange 3*38 1930 J-J
997e 10U*«
106
104
Balt (to P 1st 6s m 1 ’ll A-O
B S P & C rat 4 *38 ’53F-A
Balt Trac 1st 5s..*29 M-N
No Balt Div 5s 1942 J-D
Cent’l Ry oon5sl032 M-N
Ext db Imp 5s. 1932 M S
Chaa Cltyifiy lst5s’23 J-J
Chaa Ry G (to El 6s’99 M-S
100*4
02
03
03
02
100
108
100 7s 110*3
ft
90
gu58’42M-S
Ltl st5s’53 J -J
Memphis st 1st 5s’45 J-J
Macon Rycfe
30
234
607a Jan
84°s ltd)
...
Nor&PorTr ist5s’36J-D
Norfolk st 1st os’44..J-J
North Cent 4 *aa 1925 A-O
Series A 5s 1026....J-J
Senes £ 5s 1926....J-J
Pitt Un Trac 5s 1997.J-J
Poto Val 1st 5s 1041..J-J
Sav Fla A West os ’34 A-O
Seab A Roan os 1026. J J
South Bound 1st 5s..A-O
U El L&P 1st 4 *aa’20 M-N,
Un Ry (to El 1st 4s ’40 M-S
Income 4s 1040
J-D
Funding 5s 1936...J-D
VaMid 2d ser 6s ’ll. M-S
3d senes 6s 1916..M-S
49*4 Deo
12'4 J’ly
63 *8 J’ly
33*« Deo
84*3 Deo
16
Apr
337aMay
125 *4 Deo
113
Sep
7534 Sep
5174 Deo
14 *4 Deo
36 *8 Apr
86 >4 Sep
7**ie Mar
687t May
05 *a Deo
Bid
| Ask
105
101
106
102
09*3 IU0*4
107
10<i
107*3'108
95
100
33*9 84
97
07*9
lo4
104*9
104*9 105
115
112
106*4 107*9
42
43
7
102*9 103
5
1007s 110*3
05
00*9
115
96
73*4
90
74
95
82*4
83*4
08*3
loo
loo
1L0
102
105
104
......
loti
106
89
01
85*«
62*4
85*«
84*«
63
85
100^4
103
103
4th ser 3-4-681921.M-S
5th senes 5s 1926.M-S
104
Va (State) 3s new ’32.J-J
Fund debt 2-3s 1001.J-J
WestN Coon6s 1014 J-J
105
WesVaCJbPlsl6g*ll J«J
Wil A Weld 6S..1935.J-J
Jan
Deo
43
18
11*4 Feb
24 7a J an
69 *3 Feb
5*4 Jan
BAl.T13i.4KCE
Ask :
JBeuUs
.
102*3 I02a4
04* 95
101*8 101*4
Bid
Ph A Reau 2d 5s '33. A-O
J-D
Con M 7s 1911
Ex Imp M 4s g *47.A-O
Terminal 5s gl94i.<J-F
P W & B col tr 4s ’21.J-J
Portland Ry 1st 5s 1930.
Koch Ry* L con 5s ’64J -J
lOi
People’s Tr tr oerta 4s ’43
B ?13 paid,
a
Mai 48 Deo
Mar 89 May
Jan 121 *8 Deo
11*4 Feb 28*4 Deo
22*4 Feb 48 Deo
0*4 Feb 14 *3 Deo
25
Dec
17 *8 Sep 19 28 Jan 3
4m J’iy2l 50 Jan 6 44*4 J’ly
32
7a Feb
40*4 J’ly 26 53*8 Jan 10
li *4 J’ly 29 12 *a Jan 14 *io78 Jan
43
Jan
42
J’ne30 64*4 Marll
15*3 Jan
19*4 J’ly 26 34*4 Jan 29
Jan
63
64 J’iy26 84*4 Jan 10
9*3 Jan
7
J’ly 6 13 oanlo
15*8 J’neJO 28*4 Jan 3, 14*« Jan
43 American
li*
| Highest
30
76
Fee 28 100
100 J 8*4 J’ly 29 27*4Jan 3
100 40 Oct 17 47 Jan 8
Ry A Electric.. 50 12*14 May 3 15*s J’ly 15
223
00*
P Co IsLb col tr 5s’40 M-S
Condb OOl tr 681951M-N
Phil Elec gold trust otfa.
Trust oertifs 4s
P (to E genii 6 g’20.A-O
Gen M 4s g 1920..A(fcO
Jan
Oct 18
J’ly 14
332 Seaboard (new)
2d pref
Do
875
43
15
25
43
45
62
00
8 132
Mar21
Marl l
.100, 46
210
N Y Ph & N o 1st 4s ’30 J - J
Income 4s 1939...M-N
NoOhioTrac con5s’10M-J
Penn Cons 6s 1010.. Var
Penn A Md steel con 6s.
Pa (to N Y Can 5s ’30. A-O
Con 4s 1939
A-O
Penn Steel 1st 6s ’17 M-N
HEx-rights.
136
134
70‘s
75
76
Oct 10
09
Sep *10}
134 *8 Sep’10
101
Apr’00!
J-J
F-A
Week
'Shares
Bonds
Brices are all ** and
Pennsyi RR receipts...
78
83
61
Phila Traction.
32
78
63*4
N Haven iron A steel.
Preferred
31*4
76*8
8*4
......
Pennsylvania e-ieel.
82
42*4
TT1t..
Leli Vail Tran v t o.
Preferred v t c
49
44*4
lla4
49*4
11*4
43*9
tMtfT
Preferred
*78
*8*4
24*4
43*9
43
63
*t*8
......
Keystone Telephone..
11°4
49*4
31*«
1*02*’ i‘03'
J -J
ACTIVE STOCKS
•126 127
•20*9 21
b°8
76Bi67Clii«
Beil Telephone (Pa).
Cambria iron
Indiana Union Tr....l
Insurance Co of N A..
Inter Sin Pow A Chem,
♦
♦43
44
97
Aug’lU'....! 97
09*i
102*8 Ame'04'...J
102*4 Oct’10 ....i:l0U*« 105
102
Feb’09 ....'
I00»a Sep’OSL...'
J-J
Sales
64
02
*90
18*9
76*4 751*14 77*4
8*4
8*4 I
8*4
43
42*9 42*3
19
; inactive stocks
Amai Asbestos Corp.
Preferred
10
Ameiuan Milling
Ainer Pipe Mtg
100
Germantown Pass.
443
44
27
43*9
44*4
12
6U*3
90 >« Sait
J-J
Philadelphia
22 7t
*43
44
......
Baltimore
1
126*8 126*9
20
20
42*4 42*4
93
91
9J
90
102
Exchanges—Stock Record, Daily, Weekly, Yearly
I
61*3 61*9
110's
United Fruit gens 14*88.1023 J-J
U S Coal A Oil 1st s f 6s.. 1938 M-N
U 8 Steel Corp 10-60 yr 6s. 1963 M-N
West End Street By 4s....1015 F-A
Gold 4*as
1914 M-S
1916 M-N
Goia deoenture 4s
1917 F-A
Gold 4s
Western Teleph A Tel 5s. 1932 J-J
Wisconsin Cent 1st gen 4sl940 J-J
9m
96*3 i
04*8
Wednesday
62
60*9
‘
1*26*412634
93
00
Prices—Not Per Centum Prices
Monday
Oct
99
80
Apr’08
Philadelphia and Baltimore Stock
Oet 16
100*8
101
99
addition to the purchase price for all Boston
NOT*—Buyer pays accrued interest In
Saturday
92 7s
High
99*8 101
Apr’08; ...»
99>'« Feb’lO1....': 99’4 99*4
118
116
llfi 1 18 113
93
I 92*8
Oct ’ 10
03*3
91
Sep’10
I 01
02
il02
103
102 *s Sep Tu
113;js Nov’06
101*4 Sep ’05'...."
115
l’ne’08
08*4
00*4! 47 97
99*n
1917 J- J
Repub Valley 1st s t 6s...1019
Rutland 1st con gen 4*38.1941
Rutland-Canadian 1st 4sl949
Savannah Elec 1st cons os.1952
Seattle Elec 1st g 5s......1930
Sliannon-Anz 1st g 6s
1019
Terre ilaute Elec g 5s.... 1929
Torrington 1st g 5s
1018
Union Pac RK& 1 grg4s.l9»7
20-year conv 4s
1027
88*b
101 *4
115*3 115*3
Mar’09
140
Apr *05
96
06 *a
96 *4
06*4
7remtElk&Mo Vlst6a..l933 A-O
99*t
99
Anr’10
Mar’10
96
133
1927 M-S
48
Mar’IOj.
87 7« Sep’10
i 01 *4
U>1*8
90*8 Oct ’ll
115*3 Jan’10
126
Feo’05
99
May’10
102
102
91
Dec’07
112>* Jan ’03
lOO** Aug’09
101 *8 Sale
Chic a No Mien 1st go 58.1931 M-N
Ohio A W Midi gen 5s....1921 J -D
Concord A Mont cons 4s.. 1920 J-D
Conn & Pass K let g 4S...1013 A-O
Cudaliy PacK(The)lst g 5s 1924 M-N
Current Hirer 1st 6s......l926jA-0
08 “8
101*8 101*4
100
09*8
98*8
Mar* 10
Oct ’09
99
88
85
87*3
Oct’*O...J|
S'3**Mar’10t....1 93*8 v*7
Boston Term 1st 4s
1939 A-O
New River (The) conv 5s. i 934 J - J
N Y N H A H con deb 3 *281956 J - J
Conv deb 6» (ctls)
1948 J-J
Old Colony gold 4s
1024 F-A
Oreg By A Nay con g 4s..1046 J-D
Oreg Sh Line 1st g 6s
1922 F-A
Pere Marquette deb g 6s.. 1912 J-J
113*8 114
100
117
Kanos
31
Since
§ o:
;oo ^ i January 1
High So,Low
ASK Low
100
5s 1929 J-J
New Eng Cot Yarn 5s. ...1929 F-A
New EngTelephds
1915 A-O
6a
1916 A-O
New England cons g 5s...1045 J-J
103
103
99** Oct’10
100
73
Mich Teieplst 5s
Minne Gen Elec con g
11103 Oct'07
98 *c J’ne’10.
99
102H,
63
113 *8 May’10
Cent Vermt 1st g4s..Mayl920 Q-F
C B A U Iowa Div 1st 68.1919 A-O
1919 A-O
Iowa Div 1st 4s
Debenture 5s............1916 M-N
Denver Exten4s
1922 F-A
Nebraska Ex ten 4s
1927 M-N
B <to S W 8 1 48
1921 M-S
Illinois Div 3 *38
1949 J - J
Calc.ic Ky <to btic Yas 68.1916 J-J
Coll trust retunding g 481940 A-O
Ob Mil (to 8t P Dub D 6s.. 1920 J-J
Ob M db St P Wl9 V div 6sl920 J - J
Det Or Bap & W 1st 4s... 1946
Dominion Coal 1st s I 5s.. 1940
17
Oct 21
Hi a
ill7*a 117*8
100** Mar’09
104 *a Oct ’08
112 *3 Jan ’03
Feb’10
103
100
J’ne’01
1944 J-J
Boston A Maine 4*99
68 H.
Feb'04
68
110
Sale
68
:::!ltV02S,
Week's
Range or
lust
Rnc*
Friday
Illinois Steel deben os
1013 A-O
la Falls & Sioux Cist 7s.. 1917 A-O
Kan C Clin A Stir 1st 5s... 1925 A O
Kan C Ft S(ft Gull ext 5s..1911 J-D
Kan C Ft Scott A M 6s....1928 M-N
Kan C M A B gen 4s
..1934 M-S
Assented income 5s
1934 M-S
Kan C A M By A Br 1st 5sl929 A-O
Maine Cent cons 1st 7s...1912 A-O
1912 A-O
Cons 1st 4s
Maro Hough A Ont 1st 6s. 1925 A-O
Mass Gas 4*23
1929 j J
il*4*‘
-
IS-2
BOSTON STOCK KXCII’GE
wkkk Endow Oct 21
Since
Ask Low
Jila
High] A'*> Low High j
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1088
THE CHRONICLE
[VOL.
LXXXXI.
Investment and ^lailroad Intelligence.
-f
KAILKOAD
GrtOSS
niWlAniwuvijiJijin.arL~nA-AnmrUwuwiAJwin-arruvrvvinrYVY-rr-‘*rr!nviiv>virinfifLnf>fOT
EARN1MGS.
The following table shows the
gross earnings of every STEAM railroad
from which regular
can be obtained.
The first two columns of
weekly or monthly return^
figures
give
the
gross
earnings for the latest week or month, and the last
columns the earnings for the
two
period from July 1 to and including such latest week
or month.
statement to show the fiscal
We add a
year totals of those roads whose fiscal
supplementary
year does not begin with
period
The returns of thz electric
July, but covers some other
railways
Laics; Cross Earnings.
ROADS
Week or
Month.
Ala N O & Tex Pm
N O & Nor East.
Ala & Vicksburg.
Vicks Shrev & P_
Ala Tenn & North.
Atch Topeka & S Fe
Atlanta Blrra & Atl
Atlantic Coast Line
g Baltimore & Ohio
Current
are
brought together separately
Year.
$
$
Current
Year.
...
_
__
Copper Range
—See New
...
—See New
July
2d wk
Oci
July
Cornwall
August
Cornwall & Leban.. August
Cuba Railroad
August
Delaware & Hudson August
Del Lack & West.. August
_.
Denv & Rio Grande
Denver N W & Pac.
Det Tol & Iront Sys
Ann Arbor
Detroit & Mackinac
Dul & Iron Range.
Dul Sou Sh & Atl..
El Paso Sc Sou West
Erie
Fairchild & Nor E.
Fonda Johns & GIov
Georgia Railroad
Georgia South & Fla
Grand Trunk Syst
Grand 'Irk West.
Det Gr Hav & Mil
Canada Atlantic.
Great Northern Syst
Gulf Sc Ship Island.
Hocking Valley J
Illinois Central....
Internat & Gt Nor.
_
_
York Cen tral.
5,998,307 5,559,001 11,339,843 10,769,459
1,170,652
698,683 2,312,724
6,662,990 6,604,756 13,067,212
1,435,815 1,220,019 2,704,770 12,5011526
2,343,995
802,307
820,450 1,706,745 1,575,499
York Cen tral.
157,346
353,055
70,733
15,92?
35,965
200,071
345,702
77,920
15,11?
36,470
206,870
163,209
1,893,663 1,602,778
3,081,996 2,887,197
2d wk Oct
529,300
507,800
4th wkSept
26,642
23,018
1st wk Oct
49,056
34,248
2d wk Oct
47,228
38,059
2d wk Oct
22,965
26,127
August
1,260,381 1,395,856
2d wk
Oci
August
August
August
August
67,815
602,064
5,328,526
2,118
97,403
157,346
4,970,809
70,733
34,255
72,848
440,310
3,500,674
6,089,933
7,511,647
351,089
579,256
584,232
362,861
2,455.435
70,516 1,098,741
582,850 1,187,023
4,559,734 10,003,780
1,839
4,199
85,754
193,149
226,927
459,211
August
240.673
—See Sout hern Rail way.
2d wk Oct
935,310
914,860
1st wk Oct
124,247
122,500
1st wk Oct
40,183
39,346
1st wk Oct
39,866
44,272
200,071
4,746,090
77,920
27,990
75,581
325,638
3,248,915
6,055,424
7,135,690
317,417
440,882
539,804
366,238
2,750,162
1,062,124
1,189,084
8,839,283
3,624
170,961
429,274
13,016,622 13,137,234
1,547,265
500,769
502,902
1,692,223
540,538
572,224
September 6,208,078 6,816,338 17,876,108
17,689,189
August
163,634
157,928
315,361
—
313,859
755,458
673,148 1,415.650
5,140,738 4,791,579 15,076,8561 1,231,419
13,992,468
2d wk Oct
198,000
189,000 2,722,334 2,398,983
a Interoceanic Mex
2d wk Oci
190,066
162,849 2,405,17.
Iowa Central
2,248,910
2d wk Aug
79,094
81,784 1,011,834
Kanawha Sc Mich.. August
994,616
311,725
238,213
577,921
Kansas City South August
452,207
854,280
756,580
1,099,74? 1,422,608
K C Mex & Orient-. 1st wk Oct
45,000
35,000
Lehigh Valley..... August
3,137,999 2,926,370 6,014,216
5,680,769
Lexington & East.. August
46,353
41,492
87,338
Long Island
77,344
August
Inc. 59, 725
Inc. 170, 403
Louisiana & Arkan July
113,377
106,091
113,377
Loulsv Hend & St L August
106,091
'm
105,211
102,499
201,496
s Loulsv & Nashv.. 2d wk Oct
186,405
1,107,215 1,061,220 15,438,117
Macon Sc Blrm’ham September
14.332,272
12,477
12,833
35,558
Maine Central
35,774
August
859,421
847,768 1,619,133 1,641,604
Manistlque
August
3,408
3,547
6,691
6,740
Maryland & Penna. August
42,822
37,376
76,837
a Mexican
69,066
Railway. 4 th wk Sep 215,400 170,500
2,199,700 1,949,000
Michigan Central
—See New York Cen tral.
August
September
„
•
—
ROADS.
or
Month.
N Y N H &
Harft.
N Y C & Hud RIv
Curren
Year.
July 1 to Latest Date.
Previous
Year.
Current
Previous
Year.
Year.
August
August
5,539,943 5,127,834 10,809,576 10,197,988
9,126,107 8,359,672 17,454,586 16,314,867
4,670,234 4.278.627 8,700,126 8,216,976
548.433
497,435
974,811
888,112
263,335
268,811
509,841
537,040
Michigan Central. August
2,769,358
2,428,089 5,281,240 4,694,750
Cleve C C & St L.
August
2,821,754
2,620,032
5,197,835 4,917,737
Peoria & Eastern
August
342,662
291,254
611,279
531,040
Cincinnati North.
136,229
118,838
Pitts Sc Lake Erie August
237,981
207,169
August
1,604,261 1,469,846 3,132,837 2,919,325
Rutland
333*^19
N Y Chic & St L. August
300,624
626,752
581,131
August
958,360
876,323 1,847,330 1,710,130
Toledo & Ohio C. August
505,840
410,483
Tot all lines above
968,815
751,298
August
24079992 21920034 45.543.433
N Y Susq Sc
42,269,583West.. August
309,716
241,233
Norfolk Southern.. August
604,520
485,742
233,198
207,430
Norfolk & Western464,125
423,898
August
3,155,833 2,893,006 6,070,198 5,474.307
Northern Central.. August
1,126,836
1,048,830
2,098,651 2,024.151
Northern Pacific
August
6,257,740 6,910,977 12,505,085 13,608,955
Pacific Coast Co
August
768,781
822,785
1,584,385
Pennsylvania Co
1,557,369
August
5,337,536 4,698,063 10,115,090 9,104,480
d Penn—E of P & E
August
14478 398 13544 999
d West of P & E.
27,756,564
26,460,764
August
Jnc.1,06 3,400
Pere Marquette.
Inc.1,68 6,800
August
1,451,642 1.852,633 2,824,152 2,568,029
Phlla Balt & Wash. August
1,800,327 1,510,927 3,514,205 3,028,805
Pitts Cln Ch Sc St L.
August
Raleigh &Southport September 3,132,017 2,772,598 5,807,57u 5,211.986
12,538
10,801
36,810
34,270
Reading Company
Phlla Sc ReadingAugust
3,689,908
3,510,404
7,058,673 6,602,862
Coal & Iron Co._ August
1,900,105 1,780,164 3,399,768 3,377,259
Total both cos
August
5,590,013 5.290.628 10.458,442 9,980,122
Rich Fred Sc Potom
August
180,484
152,906
373,937
Rio Grande June..
337.633
July
89,736
85,520
89,736
Rio Grande South.. 2d wk
85,520
Oct
11,621
5,401
186,907
Rock Island Lines.. August
129,734
6,099,280
5,977,132
11,410,219 11,393,734
St Jos Sc Grand Isl. August
165,591
154,407
306,813
St Louis & SanFran
296,495
August
3,641,549 3,607,765 6,985,212 6,862,670
Chic Sc East Ill.
August
1,123,749
970,080 2,033,743 1,823,210
J Evansv & Ter H August
272,192
233,582
497,236
Total of all lines. August
424,836
5,037,491 4,811,428 9,516,192 9,110,717
St L Rky Mt & Pac. June
180,967
144,952
1,974.244
St Louis Southwest. 2d wk
1,439,046
Oct
251,983
256,647 3,427,218 3,133,959
San Ped L A & S L.
August
636,495
714,207 1,263,315 1,463,291
Seaboard Air Line.)
Atlanta Sc Blrm.} 1st wk Oct
445,953
432,327 5,011,815 4,717,618
Florida W ShoreJ
Southern Indiana.. August
169,637
121,267
319,396
Southern Pacific Co August
225,595
11748658 11310745 22,963,930
22,125,315
Southern Railway.. 2d wk Oct
Mobile & Ohio... 2d wk Oct 1,204,437 1,238,664 17.221.434 16,338,266
190,490
214,510 2,985,89i 2,877,077
Cin N O Sc Tex P 2d wk Oct
180,113
173,733 2,749,177 2,437,935
Ala Great South 2d wk Oct
82,020
75,788 1.277,058 1,061,521
Georgia So Sc Fla. 1st wk Oct
46,671
47,751
630,516
Texas & Pacific.... 2d wk Oct
575,984
336,306
324,761 4,479,969 4,151,337
Tidewater Sc West. August
7,197
6,524
14,381
Toledo Peor Sc West 2d wk Oct
13,041
25,493
22,977
382,689
Toledo St L & West 2d wk Oct
340,006
86,166
81,418
1,131,731 1.120,535
Tomblgbee Valley.. August
6,893
6,217
14,298
12,621
Union Pacific Syst. August
8,479,474
7,948,614
16,396,128
Van dal la
15,483,468
August
1,002,315
805,665
1,822,654
1,527,581
Virginia & Sou West August
111.433
100,518
202.887
202.633
Wabash
2d wk Oct
647,452 609,485 9,123,198 8,669,101
Western Maryland. August
702,582
577,598
1,337,698 1,122.655
W Jersey Sc Scash.. August
920,950
820,450 1,767,931 1,583,031
Wheeling & Lake E August
697,170
615,263 1,327,966 1,205,828
Wrlghtsville Sc Tenn August
20,061
19,573
38,210
35.356
Yazoo Sc Miss Vail. September
769,352
763,143 2,160,894 2,150,042
e
Lake Shore Sc M S
August
n Lake E &
West August
Chic Ind Sc South
August
__
__
...
...
_
...
...
Various Fiscal Years.
Current
Year.
Period.
_
—
Mineral Range—
2d wk Oct
Mlnneap Sc St Louis 2d wk Oct
Minn St P & S S Ml 2d wk Oct
Chicago Division
Week
—
..
_
page.
Latest Gross Earnings.
Previous
Year.
...
August
August
August
August
August
subsequent
July 1 to l.atest Date.
Previous
Year.
September
285,935
286,110
863,621
789,966
September
151,873
137,961
436,233
390,237
September
126,558
125,364
384,413
342,012
August
8,500
6,466
15,478
11,261
August
9,069,358 8,959,839 17,090,898 16,702,111
1st wk Oct
48,869
53,615
702,012
648,842
August
2,069,750 1,794,563 4,217,814
September 8,417,835 7,933,851 24,515,627 3,657,603
ii is O <Jn Ter K.
22,677,892
August
135,540
96,856
271,58'.
190,506
Baniir & Aroostoo! August
229,22-5
226,092
443,38'
445,135
Bellefonte Central.. September
8,364
5,801
22,278
14,375
Boston & Maine
August
4,202,360 3,952,534 7,953.59(
7,674,901
Bridgeton & Saco R August
6,048
5,068
11,272
10,963
Buff Roch & Plttsb. 2d wk Oct
220,106
186,547 2,972,823 2,829,001
Buffalo & Suso___. June
200,947
204,578 2,212.437 2.298.977
Canadian Northern. 2d wk Oct
341,800
300,600
4,265,700 3,326,200
Canadian Pacific
2d wk Oct 2,334,000
2,138,000 31,816,546 27,028,015
Central of Georgia. 2d wk Oct
263,900
270,900 3,618,344 3,357,383
Central of New Jer. August
2,493,099 2,297,931 4,810,607 4,493,941
Central Vermont
August
349,487
341,790
623,816
668,774
Chattanooga South. itn wkSepi
2,44t
2,08C
23,988
Ches & Ohio Lines. 2d wk Oct
20,307
617,088
621,493
9,751,963
8,989,461
Chicago & Alton
2d wk Oct
326,062
318,240
4,574,924
Chic Burl & Quincy August
4,184,013
8,366,838 7,900,803 15,454,409 14,726,611
pChic Great West.. 1st wk Oct
269,428
249,612 3,449,342 3,108,906
Chic Ind & Loulsv. 1st wk Oct
117,839
114,082 1,823,139 1,658,573
Chic Ind & Southern
Chic Mil & St Paul.
Ch Mil & Pug Sd.
Chic & North West.
Chic St P M & Om.
Cin Ham & Dayton
Clev Cln Chic & St L
Colorado Midland.
Colorado & South
on a
i
17,240
15,316
152,256
527,630
159,725
581,439
Bellefonte Central........
Delaware & Hudson
Jan 1
Jan 1
Jan 1
a Mexican
Railway
Jan 1
e N Y Central &
Hudson River. Jan 1
Lake Shore & Michigan South Jan 1
n Lake Erie Sc Western
Jan 1
Chicago Indiana Sc Southern. Jan 1
224,846
257,380
Michigan
Central
Jan 1
1,682,504 1,545,240
Cleve Cln Chicago Sc St Louis Jan 1
7,122,436 7,321,846
Peoria Sc Eastern
Jan 1
Cincinnati Northern
i.,
Jan 1
151,164
123,816
Pittsburgh & Lake Erie
Jan 1
4,437,970 4,093,223
Rutland
Jan 1
New York Chicago Sc St Louis Jan 1
15,969.694 15,417,123
Toledo Sc Ohio Central
Jan
1
1,883,213 1,847,003
Total all lines
Jan 1
18,119,240 15,530,141
Northern Central
Jan 1
122,268
159,703
d Penn—East of Plttsb & Erie. Jan 1
60,096
75,388
d West of Plttsb & Erie
Jan 1
293,474
206,813
Phlla Baltimore Sc Washington. Jan 1
453,741
383,410
Plttsb Cln Chicago Sc St Louis._ Jan 1
1,912,872 1,718,423
Rio Grande Junction
Dec 1
Texas Sc Pacific
Jan 1
West Jersey Sc Seashore
Jan 1
Manistlque
...
Mississippi Central. August
75,451
66,251
Mo Kan Sc Texas. August
2,297,490 2,179,360
Mo Pac & lrpn Mtl
Central Branch./ 2d wk Oct 1,142,000
1.096,000
Nashv Chatt & St L August
953,549
936,019
a Nat Rys of Mex.f. 2d
wk 6c. 1,297,249 1,081,033
N e vada-Cal-Oregon. 1st wk Oct
8,464
13,163
Nevada Central.... June
6,016
7,385
N O Great Northern
August
145,860
101.363
N O Mobile & Chic. Wk Oct 8
34,232
34,857
N Y Ont Sc Western August
971,416
u
—
..
857,337
...
—
Previous
Year.
to
to
to
Sept 30
$61,553
$43,627
Aug 31 13,135,927 12,540,282
Aug 31
28,417
28,005
to Sept 30 6,378,700
5,669,900
to Aug 31 64,425,384
58,888.638
to Aug 31 32,413,254
28,462,084
to Aug 31 3,545,692
3,055,453
to Aug 31
2,435,599 1,963,723
to Aug 31
19.268.644 17,285,119
to Aug 31 19,379,102
17,425,759
to Aug 31
2,203,037 1.867,400
to Aug 31
827,947
731,799
to Aug 31
11,416,456 8,701,967
to Aug 31
2,103,096 1,951,187
to Aug 31
7,206,853 6,381,603
to Aug 31
3.134.502 2,380,834
to Aug 31 168449566
149095566
to Aug 31
8,289,045 7,735,145
to Aug 31 108180 513
96,603,813
to Aug 31
Inc.ll, 066,600
to Aug 31
12,596,616 11,494,016
to Aug 31
22,599,261 18,802,086
to July 31
645,553
583,409
to
Oct
to
Aug
14
31
11.910.645 10,769,505
4,367,883
3,981.483
AGGREGATES OF GROSS EARN IN
GS—Weekly and Monthly.
Weekly Summaries.
1st week Aug
2d week Aug
3d week Aug
4th
1st
2d
3d
4th
1st
2d
week
week
week
week
week
Aug
Sept
Sept
Sept
(43 roads)
(43 roads)
(42 roads)....
(39 roads)....
(41 roads)....
week Oct
Prev’s Year
$
12,874.219
13,330,857
$
11,968,289
12,132,599
12,283,880
13,462,769
(40 roads)....
19,342,788
13.436,925
13,898,196
14,164,775
(42 roads)
(34 roads)....
14.399,649
13,785,465
(39 roads)....
Sept (46 roads)
week Oct
Cur’pt Year
19,035,149
16,765,742
12.381.354
13,014,025
13.566.355
18,221,030
14,023.816
13,170,699
Inc.
or
Dec.
%
$
+ 905,930 ,7.94
+ 1,198.258
+ 1,178.889
+ 2,577,046
+ 1,055,571
+884,171
+ 598,420
+ 814,119
+ 375,833
+ 614,866
9.87
9.60
15.37
8.52
6.80
4.41
4.47
2.68
4.62
Monthly Summaries.
Current Yr. Previous Y'
Inc.
or
Dec.
%
Mileage Curr.Yr. Prev. Yr.
December
.237,189
.236,758
.236,852
March
.235,925
April
.237,569
May
.237,560
June
.238,108
July
.221,164
August
.234,805
September. 84,994
January
February
.
..
_
...—
...
231,699
231,362
231,652
230,841
232,463
232,494
232,054
217,466
230,925
82,163
222,006,184 205,455,121
182,649,825
174,159,723
204,916,997
196,595,911
234,310,642 201,069,381
237,036,159 209,270,887
217,202,265 205,879,959
251,505,986 223,666,645
67,702.377 65,214,479
210,302,219
202,258,490
237,533,005
225,225,596
+ 16,551,063 08.05
+ 27,652,394 15.14
+ 28,098,767 16.15
+32,616,008 15.92
+ 28,629,685 14.58
+33,241,261 16.53
+
27,765,272 13.27
+ 11,322,306 5.50
+ 17,839,341 7.63
currency,
+ 2,487,898 3.81
d Covers lines directly operated.
•
N. Y. Ry. the latter of
which, being a Canadian road, does notIncludes the New York it Ottawa, the St. Lawrence Sc
Indiana HR.
make returns to the
Adirondack and the Ottawa 4
g Includes the Cleveland Lorain &
Inter-State
Commerce
Commission,
Wheeling Ry. In both years, n Includes the
t Includes Evansville
A Kt ■ D >dge and Wise
a
Minn. A Pacific,
Northern Ohio RR.
s Includes Louisville
p Includes earnlnrs oi
<fc Atlantic from July 1 1909
eludes the Mexican
MasonOltr
and the Frankfort A
International from July 1910, u Includes the Texas
Cincinnati from Nov. I 1909
Central In 1910.
I In*
a
Mexica
t
.
O0T. 22
1089
THE CHRONICLE
1910.1
Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the second
week of October.
The table covers 34 roads and shows
4.62% increase in the aggregate over the same week last year.
1909.
1910.
Second week of October.
Alabama Great Southern
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake & Ohio Lines
Chicago & Alton
ClnclnNew Orleans & Texas Pac
Colorado & Southern
Denver & Rio Grande
Detroit & Mackinac
Detroit Toledo & Ironton—
^
$
82,020
220,106
341,800
$
75,788
186,547
300,600
2,334,000
2,138,000
Minneapolis & St Louis
Mlnneap St Paul & S S M
1
Chicago Division
J
Missouri Pacific
Mobile & Ohio
National Railways of Mexico. Rio Grande Southern
St Louis SouthwesternSouthern Railway
Texas & Pacific
Toledo Peoria & Western
Toledo St Louis & Western
Wabash
.
—
Total (34 roads)
Net Increase (4.62%).
3
6,232
33,559
41,200
196,000
263,900
617,088
326,062
180,113
353,055
529,300
22,965
270,900
621,493
318,240
173,733
345,702
507,800
26,127
47,228
67,815
38,059
70.516
9,169
935,310
914,860
20,450
3
---J-7,000
4,405
7,822
6,380
7,353
21,500
3,162
Hi
198,000
190,066
79,094
1,107,215
1,061,220
45,995
1,924
17,240
152,256
527,630
15,316
159,725
581,439
1,142,000
190,496
1,297,249
11,620
1,096,000
251,983
1,204,437
214,510
1,081,033
5,406
256,647
1,238,664
324,761
22,977
2,690
*
7,469
& 53,809
55
46,000
-
24,014
-
4
81,418
609,485
13,785,465 13,170,599
6759,007
same
34,227
144,141
614,866
October our final statement covers
2.68% increase in the aggregate over the
week last year.
1910.
First week of October.
1909.
3
Previously reported (30 roads) _ 12,717,411 12,384,726
53,615
48,869
Atlanta Birmingham & Atlantic
114,082
117,839
Chicago Ind & Louisville
34,248
49,056
Detroit Toledo & Ironton
47,751
46,671
Georgia Southern & Florida
Grand Trunk of Canada.
}
902,777
908,412
Grand Trunk Western..—)
Det Grand Haven & Mllw. I
J
Canada Atlantic
35,000
45,000
Kansas City Mexico & Orient.
13,163
8,464
Nevada-Callfornla-Oregon
6,127
11,974
Rio Grande Southern..
432,327
445,953
Seaboard Air Line
Increase.
Decrease.
3
517,285
3
184,600
4,746
3,757
14,808
1,08 0
14,399,649 14,023,816
Total (42 roads)
Net Increase (2.68%)
5,635
■
'
10,000
4,699
5,847
13,626
195,125
Monthly to Latest Dates.—In our “Railway
Earnings” Section, which accompanies to-day’s issue of the
“Chronicle” as a special supplement, we print the August
returns of earnings and expenses (or in the absence of the
August figures those for the latest previous month) of every
steam-operating railroad in the United States which is
obliged to make monthly statements to the Inter-State
Net Earnings
Commerce Commission at Washington.
The Inter-State Commission returns are all on a
uniform
and expenditures, and possess
basis, both as to revenues
special utility by reason of that fact. In a number of
instances these figures differ from those contained in the
monthly statements given out by the companies themselves
for publication, and in which the accounts are prepared in
accordance with old methods of grouping and classification
pursued in many instances for years. We bring together
here (1) all the roads where there is a substantial difference
between the two sets of figures, so that those persons who
for any reason may desire to turn to the company statements
will find them readily available.
We also give (2) the re¬
turns of such roads (even where the figures correspond
exactly with those in the Inter-State Commerce reports)
which go beyond the requirements of the Commission and
publish their fixed charges in addition to earnings and ex¬
penses, or (3) which have a fiscal year different from that of
the Inter-State Commerce Commission, in which latter case
we insert the road so as to show the results for the company’s
own year.
We likewise include (4) the few roads which
operate entirely within State boundaries, and therefore do
not report to the Federal Commission, and (5) Mexican and
Canadian companies.
We add (6) the roads which have
issued their own statements for August, but have not yet
filed any returns for that month with the Commission.
Finally (7) we give the figures for any roads that have
already submitted their September statement.
—Gross Earnings—
Current
Previous
Year.
Year.
Roads.
3
Atch Top & Santa Fe.b.Aug 9,069,359
July 1 to Aug 31
17,090,898
.Sept 8.417.835
24,515,627
-Aug
July 1 to Aug 31.
Beliefonte Central-b-.
Jan 1 to Sept 30.
Sept
Bridgeton & Saco Rive .Aug
July 1 to Aug 31.
229,224
443,384
8,364
61,553
6,048
11,272
$
Net Earnings
Current
Previous
Year.
Year.
3
3
8,959,839 J3.514,911 >3,747,055
16,702,111 JQ ,281,411 >6,460,667
2.807,190 3.010,560
7,933,581
22.677,892 7,747,081 8,031,705
95.429
67.681
226,092
177,321
124,152
445,135
5,801
43,627
5,068
10,963
3,053
1,406
13,033
2,658
3,001
2,357
5,150
Aug 9,255,331
7,426,985
18,124,545 14,567,015
Central of New Jersey.b. Aug 2,493,099
2,297,931
4,810,607 4,493,941
July 1 to Aug 31
Augd2,949,328 2,642,595
Chesapeake & Ohio
July 1 to Aug 31
<15,638,023 5,052,602
1,014,144
Chicago Great West.b--Aug 1,099,701
July 1 to Aug 31
2,051,138 1,879,167
2,826,895
5,196
1,372,058
2,651,867
July 1 to Aug 31.
Copper Range.b
July
70,733
79,920
Cuba RR
Aug
206,870
163,209
$
349,815
624,679
263,000
611,200
3,691,672
7,176,291
1,051,643
1,989,409
dl,131,194
d2.106,732
348,356
582,163
503,430
882,453
July 1 to Aug 31
440,310
325,638
Delaware & Hudson.b._Aug 1,893,664
1,662,779
Jan 1 to Aug 31
13,135,928 12,546,283
Denver & Rio Grande.a.Aug 2,200,422
2,046,674
Jan 1 to Aug 31
4,250,147 4,037,190
Duluth So Sh & Atl-b-.Aug
336,479
308,440
July 1 to A\lg 31
648,462
593,674
Erie.a
Aug 5,328,526 4,559,734
July 1 to Aug 31
10,003,780 8.839,283
Fonda Johnst & Glov.a. Aug
97,403
85,754
July 1 to Aug 31
193,149
170,961
Georgia RR.b
Aug
240,673
226,927
July 1 to Aug 31.
459,215
429,274
Aug
July 1 to Aug 31
Det Gr Hav & Mllw..Aug
July 1 to Aug 31.
Canada Atlantic
Aug
July 1 to Aug 31
Hocking Valley.a
Aug
July 1 to Aug 31
Illinois Central.a--Aug
July 1 to Aug 31
g Interoceanlc of Mexlco.Aug
July 1 to Aug 31
Iowa Central.a
Aug
July 1 to Aug 31
Kansas City Southern_b. Aug
July 1 to Aug 31
Long Island
Aug
Jan 1 to Aug 31
Louisv Hend & St L.a-.July
Grand Trunk West
Aug
Manistlque.b
Aug 31
98,790
157,188
156,701
277,877
162,541
289,070
755,458
1,415,650
1,231,419
5,224,547
4,870,027
9,936,118
9,200,889
646,587
1,326,466
752,549
1,462,692
302,174
270,860
545,064
523,599
854,280
756,580
1,699,747 1,422,608
Inc 59,725
Inc 582,524
96,285
83,006
3,408
3,547
28,417
28,005
206,542
93,260
1,440,772
802,959
64,366
76,301
122,500
149,966
433,300
375,730
846,870
742,490
1,183,409 1,204,104
2,412,064 2,348,626
811,065
729,867
1,617,726 1,448,279
66,251
123,816
2,179,360
4,093,223
4,574,924
8,583,123
4,507,960
8,990,252
43,828
169,406
303,529
101,363
206,813
8,359,672
58,888,638
4,278,627
28,462,084
497,435
3,055,453
268,811
1,963,723
2,428,089
17,285,119
2,620,032
17,425,759
291,254
1,867,400
118,838
731,799
1,469,846
8,701,967
300,624
1,951,187
876,323
6,381,603
410,483
3,134,502 2,380.834
Aug 24,079,992 21,920,034
168,449,566 149095,566
West.a--Aug
July 1 to Aug 31
Susq & Western.a--Aug
July 1 to Aug 31.
N Y Ontario &
N Y
Northern Central
Jan 1 to Aug 31
971,416
1,912,872
309,716
604,520
3,155,833
6,070,198
Aug 1,126,836
Norfolk & Western-b---Aug
July 1 to Aug 31
854,071
576,681
-
to
33,108
59,813
1,047,271
172,766
323,135
190,280
339,681
673,148
2,203,037
Cincinnati Northern_b Aug
136,229
Jan 1 to Aug 31
827,947
Pitts & Lake Erie.b-.Aug 1,604,261
Jan 1 to Aug 3111,416,456
Rutland.bAug
333,419
Jan 1 to Aug 31
2,103,096
N Y Chic & St Louis b Aug
958,360
Jan 1 to Aug 31
7,296,853
Toledo & Ohio Cent.b Aug
505,840
Jan 1
1,798,315
3,185,724
57,961
113,099
892,516
Aug 31
Total all lines.b
Jan 1 to Aug 31
705,699
1,406,337
126,587
243,111
498,330
—
1 to
5.145,803
1,565,553
Mexico North West .a -Aug
Jan 1 to Aug 31
Mineral Range.b
Aug
July 1 to Aug 31
Mlnneap & St Louls.a-.Aug
July 1 to Aug 31
Minn St P & S S M.a.-.Aug
July 1 to Aug 31
Chicago DlvisIon_a
Aug
July 1 to Aug 31
Mississippi Central-b
75,451
Aug
July 1 to Aug 31
151,164
Missouri Kan & Texas.b Aug 2,297,490
July 1 to Aug 31
4,437,970
Missouri Pacific.b
Aug 4,721,588
July 1 to Aug 31
8,865,694
g National Rys of Mex__Aug 5,188,788
July 1 to Aug 31
10,465,136
32,380
Nevada-Cal-Oregon b-.July
New Jersey & New York.b—
April 1 to June 30.
186,481
Jan
335,349
1 to June 30
New Orleans Great No.a Aug
145,860
July 1 to Aug 31
293,474
C N Y Ct & Hud RIv.b.Aug 9,126,107
Jan 1 to Aug 31
.64,425,384
Lake Sh & Mich So.b-Aug 4,670,234
Jan 1 to Aug 31
32,413,254
e Lake Erie & West-b-Aug
548,433
Jan 1 to Aug 31--- — 3,545.692
Chic Ind & South’n.b-Aug
263,335
Jan 1 to Aug 31-.
2,435,599
Michigan Central-b—Aug 2,769,358
Jan 1 to Aug 31
19,268,644
Clev Cln Chic & St L b Aug 2,821,754
Jan 1 to Aug 31
19,379,102
342,662
Peoria & Eastern.b--Aug
Jan
20,880
84,491
202,923
818,315
2,939,366
5,659,739
5,606.208
July 1 to Aug 31
g
,
570,958
375,833
Canadian Paclflc.a
Jan 1 to Aug 31
_
_
1,650,600
4,664
For the first week of
42 roads and shows
807,100
2,318,100
Grand Trunk of Canada—
Grand Trunk Ry
Aug 3,067,842
216,216
6,214
11,545
2,516
4,748
37,967
336,306
25,493
86,166
647,452
1,647,679
Aug 1,093,000
Colorado & Southern.b-Aug 1,483,650
2,701
9,000
27,217
1,611,793
July 1 to Aug 31
Canadian Northern
July 1 to Aug 31
....
■
189,000
162,849
81,784
$
815,208
July 1 to Aug 31
"
^
888,775
5
Buffalo Roch & Pltts-b-Aug
■
Ann Arbor
Duluth South Shore & Atlantic.
Grand Trunk of Canada
Grand Trunk Western
Det Grand Haven & Mllw..
Canada Atlantic
International tc Great Northern
Interoceanlc of Mexico
Iowa Central
Louisville & Nashville
Mineral Range
-
Roads.,
Increase. Decrease.
-Net Earnings
Current
Previous
Year.
Year.
Gross EarningsPrevious
Current
*Year.
Year.
Latest Oross
857,337
1,718,423
241,233
485,742
2,893,006
5,474,307
1,048,836
8,289,045 7,735,145
Pacific Coast
Aug
768,781
822,785
July 1 to Aug 31
1,584,385 1,557,869
Pennsylvania—Lines directly operated—
East of Pitts* Erie—Aug 14,478,399 13,544,999
11,679
12,652
4,380
def.5,353
331,322
587,493
1,174,726
2,113,809
$
321,744
669,321
204,400
434,000
2,964,058
5,443,929
1,072,530
2,021,462
1,113,388
2,088,576
296.540
474,460
531,943
978,896
36,544
51,094
100,112
697,276
4,781,194
674,144
1,378,150
110,595
192.540
1,286,239
2,404,095
•
50,801
101,412
44,915
71,812
846,771
1,557,280
206,340
326,542
41,851
68,860
21,413
11,193
285,701
509,950
836,899
1,224,470
192,462
412,696
1*63,075
1*94,237
299,859
558,670
1*72,373
1*98,330
260,791
328,075
446,685
620,128
Dec 52,078
Inc 23,536
23,374
def 1,494
def6,626
113,603
807,981
5,291
def9,128
*117,776
*232,686
441,262
893,100
225,980
487.Q45
29,860
16,839
722
1,693
30,321
246,791
15,908
26,723
*122,168
*244,082
489,610
896.967
267,385
521,567
28,876
654,917,
1,092,127
47,799
809,383
1,343.314
1,345,402
2,168,849
2,132,376
4,260,759
15,042
1,512,938
2,534,958
1,784,493
3,564,484
25,779
65,364
63,513
72,607
96,721
117,149
29,856
58,275
61,556
122,080
2,811,893 2,804,360
16,235,104 17,307,450
1,877,577
1,522,363
9,773,753 10,554,702
174,933
166,555
786,258
524,811
57,029
43,281
401,595
610,454
895,787
794,074
5.296,189
5,448,435
1,002,335
737,113
4,808,629
4,266,992
117,696
112,486
512,292
590,852
38,689
44,692
167,812
148,518
873,930
903,728
4,662,091
6,223,684
125,303
115,465
540,421
605,344
338,756
265,871
1,896,497
2,239,404
170,239
200,068
655,675
1,073,525
7,711,586 8,482,637
48,021,617 47,308,870
376,887
332,412
627,599
764,292
73,808
50,696
119,552
153,535
1,251,473
1,202,931
2,189,230 2,261,218
251,176
1,480,492
202,774
399.474
240,876
1,442,592
235,096
431,714
4,312,470 4,679,0‘S
Aug 31
.108,180,513 96.603,813 28,645.524 27,135.02
Inc
97,400
West of Pitts * Erie. AugT
Inc 1,063,400
Inc 1,249,000 1
Jan 1 to Aug 31..
Inc 11,066,600
428.043
Pere Marquette-b-*5 440,3!
Aug 1,451,642 1,352,633
806.161
771,81
2,824,152 2,568,029
July 1 to Afig 31
Jan 1 to
_
.
1090
THE CHRONICLE
r-Gross Earnings
Current
Previous
Year.
Year.
$
3
Roads.
Net Earnings
Current
Previous
Year.
Year.
$
498,926
Phila Balto & Wash
Aug 1,800,327 1,510,927
Jan 1 to Aug 31
12,506,616 11,494,016
Pitts Cln Chic & St
L.a.Aug 3,132,017 2,772,598
Jan 1 to Aug 31
22,599,261 18,802,086
Raleigh & Southport, b--Sep
12,538
10,866
Jii*
~
July l' to Sep
30.
36,816
34,270
Reading Company—
Phila & Reading.b
2,894,420
859,332
4,552,061
3,874
10,321
Companies.
Keystone Telep Co.
..Sept
94,340
Previous
Year.
$
91,908
Current
Year.
Previous
Year.
$
$
47,746
141,587
46,838
July 1 to Sept 30
282,809
272,851
137,328
Kings Co El Lt & P Co.-Sept
352,889
286,822
170,947
131,276
Jan 1 to Sept 30
3,146,503
2,720,621
1,626,687
1,386,953
United States Express.b July
841,862
651,285
52,606 def43,735
a Net earnings here
given are after
b Net earnings here given are beforededucting taxes,
deducting taxes.
c Includes the N. Y. &
Ottawa, the St. Lawrence & Adirondack and the
Ottawa & N. Y. Ry., the latter of
which, being a Canadian road, does not
make returns to
„
d
the Inter-State Commerce Commission.
Includes Chesapeake & Ohio
Railway Co. of Indiana In 1910.
Includes the Northern Ohio RR.
g These results are In Mexican
currency.
h For Aug. 1910 additional income Is
given as
against a deficit of $1,879 in 1909, and for
e
showing a credit of $2,508,
period from July 1 to Aug. 31 was
credit of $4,619 in 1910, against a deficit of
$2,660 last year.
j The company now Includes the
earnings of the Atch.
Ry., Gulf Colo. & Santa Fe Ry., Eastern Ry. of New Top. & Santa Fe
Mexico System,
Santa Fe Prescott & Phoenix Ry., Southern
Kansas Ry. of Texas, Texas
& Gulf Ry., G. & I. Ry. of T.
and C. S. S. & L. V. RR. in both
years.
For Aug. taxes amounted to $320,489,
against $277,118 In 1909; after de¬
ducting which, net for Aug. 1910 was $3,194,422,
against
$3,469,937
last
year.
For period from July 1 to Aug. 31 taxes
were $640,788 in
1910,
against $555,914 in 1909.
k For Aug. 1910 additional income
was
and tor period from July 1 to Aug. 31 was $13,813, against $15,518 in 1909,
$25,454 In 1910, against $33,140
last
a
year.
These figures represent 30% of gross
earnings.
After allowing for miscellaneous receints and
net from coal and other
departments, total net earnings for Aug. 1910 were
$254,682 in 1909; and from July 1 to Aug. 31 were $300,746, against
$563,144 in 1910,
against $492,211 in 1909.
n
r
Interest
Roads.
Bangor & Aroostook.
k ,
July 1 to Aug 31
Belief onte Central.
Jan 1 to Sept 30
...
Charges and Surplus.
^
—Int., Rentals, &c.— —Bal. oj Net Earns.—
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
Aug
93,845
84,632
def.9,056
22,348
187,304
164,883 def.26,521
36,520
.Sept
Bridgeton & Saco River. Aug
July 1 to Aug 31.
Buffalo Roch As Pitts
Aug
July 1 to Aug 31...
236
243
2,124
2,187
598
635
1,196
176,145
354,331
Central of New Jersey—Aug
522,605
July 1 to Aug 31
1,051,910
Chicago Great Western.. Aug
204,518
July 1 to Aug 31
398,713
Colorado & Southern
Aug
273,904
July 1 to Aug 31
526,320
Copper Range
July
15,712
Cuba RR
Aug
36,667
July 1 to Aug 31
73,334
Denver & Rio Grande.-Aug
481,884
July 1 to Aug 31
947,488
Duluth So Sh & Atl
Aug
96,410
July 1 to Aug 31
193,353
Georgia RR
Aug
118,149
Jv
Uly 1 to Aug 31
185,233
Loulsv Hend As St L
July
15,207
Mineral Range
Aug
13,792
July 1 to Aug 31
26,425
Mo Kansas As Texas.... Aug
611,111
i v
July 1 to Aug 31.
1,172,956
N evada-Cal-Oregon
July
3,628
New Jersey As New York—
fc*.
April 1 to June30
838
57.8.'
SI Jan 1 to June 30
585
111,5?
3
1,270
167,012
329,082
527,881
1,067,753
288,173
576,295
253,552
506,810
11,976
34,996
69,992
417,001
2,817
10,909
2,403
3,954
1,163
471
1,722
3,926
£243,544
£180,780
£424,125
£390,386
529,043
544,649
937,499
953,709
£150,883
£11,490
£198,851 £def95,239
£241,470
£333,294
£376,235
£541,262
5,168
24,568
47,824
16,098
129,589
30,120
dl78,179
<2314,116
£1608,113
<2696,216
£35,261
£23,799
£62,349
£15,040
821,475
91,748
185,309
60,068 £def76,488
1,075,832 £def43,552
3,578
£11,791
45.218
£15,839
93.648
£7^425
Aug
Rio Grande Junction
July
Dec 1 to July 31
Rio Grande Southern
Aug
July 1 to Aug 31.
St Louis Southwest
Aug
July 1 to Aug 31
Toledo Peo & Western. _Aug
Sept..
July 1 to Sept 30
899,971
1,799,942
8,333
8,333
66,667
19,148
38,229
66,667
19,625
39,054
170,726
348,230
24,042
25,941
74,217
Year.
3
136
781
234,045
433,669
699,895
1,182,743
£10,139
£268
330,002
556,141
18,588
126,999
£def228
£3,109
172,688
344,167
788,346
1,334,631
£88,701
£73,300
389,600
635,899
17,323
108,356
£def981
£def2.939
£45,429
£67,734
£15,033
£9,356
£18,391
24,179
23,861
72,445
£112,810
£191,512
12,947
£11,030
£17,729
INDUSTRIAL COMPANIES.
—Int., Rentals, &c.— —Bal. of Net Earns.—
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
Keystone Tel AsTel Co
Sept
24,762
24,682
22,984
22,156
July 1 to Sept 30
73,640
76,828
67.947
60.500
Kings Co El Lt As P Co.-Sept
109,015
91,827
61,932
39,449
Jan 1 to Sept 30
933,413
789,810
693,274
597,143
Companies.
ig
exchange.
and
£
The sum of $10,000 Is deducted
every month from surplu
placed to the credit of the renewal fund.
After allowing for other Income received.
ELECTRIC
RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
American Rys Co
cAug Elgin Ac Chic Ry
Bangor Ry As Elec Co
Baton Rouge Elec Co
Binghamton St Ry..
Blrm’ham Ry Lt As P
Brockt’n Ac Ply St Ry
Cape Breton Elec Co.
August
August
August
July
July
August
August
Carolina Pow & Lt Co September
Central Penn Trac— September
Chattanooga Ry Ac Lt September
Chicago Rys Co
July
Cleve Palnesv As East August
Dallas Electric Corp. August
Detroit United Ry.. 1st wk Oct
Duluth-Suoerior TrCo August
East St Louis As Sub. September
El Paso Electric
August
Falrm As Clarks Tr Co September
Ft Wayne Ac Wabash
Valley Traction Co August
Galv-Hous Elect Co. August
Grand Ranids Ry Co. August
Havana Electric Ry. Wk Oct 16
Honolulu Rapid Tran
Ac Land Co
June
Houghton Co Trac Co August
Illinois Traction Co._ August
Jacksonville Elect Co August
Kans City Ry As Lt Co September
Lake Shore Elec Ry. August
Milw El Ry Ac Lt Co. August
Mllw Lt Ht Ac Tr Co. August
Montreal Street Ry.. August
Nashville Ry As Light September
New Orleans Ry Ac Lt August
North Ohio Trac As Lt August
North Texas Elec Co. August
Northwest Elec Co.. September
Norf As Portsm Tr Co August
Oklahoma City Ry.. May
Paducah Tr As tL Co. August
Pensacola Electric Co August
Previous
Year.
Current
Year.
Previous
Year.
$
350,519
178,730
323,566
58,065
9,155
37,330
163,698
57,593
8,681
34,910
216,505
183,18?
16,057
30,777
17,402
68,199
77,022
3
2,939,780
2,715,092
1,099,888
367,377
70,946
1,009,265
343,166
62,500
1,496,110
17,912
26,669
1,276,482
91,070
162,014
141,318
564,747
82,155
188,228
17,545
62,979
154,349
623,109
67,806
650,947
1192,827 1077,694
574,785
6,961,458
7,635,344
40,275
36.389
118,257
173,021
101,983
112,802
151,985
92,235
211,249
717,157
176,402
1,481,078
905,614
793,768
678,396
1,585,886
235,734
917,809
210,844
823,731
7,156,272
6,068,571
636.384
62,032
47,695
1,756,761
405,486
445,992
140,625
124,764
111,814
133,412
111.29E
998,040
855,991
99,838
33,710
755,64?
37,769
1,702,387
46,897
37,866
46,447
29,709
32,92;*
34,68^
523,558
221,557
210,74<
462,266
3,874,962
377.41V
5,496,114
47,043
38,781*
628,685
584,287
139,896
407,973
114,778
398,828
163,307
487,436
130.993
374,680
106.994
355,230
155,899
470,530
231,062
376,374
346,441
197,684
213,693
3,415,017
312,212
5,054,811
726,855
2,747,439
798,655
3,054.818
698,078
2,863,033
1,341,847
4.135,528
1,612,504
923,376
606,308
2,557,704
1,266,683
3,978,930
1,432,015
805,290
1,523,423
169,156
174,211
37,533
19.930
22,205
420,777
194,383
176,200
162,401
4,106,489
1,284,725
3,547,647
1,230,931
1027,931
673,220
6,381,840
4,964,764
90,524
193,203
674,715
1,889,744
416,585
634,522
1,575,775
402,295
August
89,773
258,704
56,870
479,573
17,103
50,346
August
238,733
119,290
414,236
106,938
389,146
August
4th wk Sep
380.934
333.223
185,141
172,577
Wk Oct 15
£13,180
£11,041
£6,040
232,494
618,635
32,470
£12,625
£10,168
£ 5,813
Port(Ore)Ry,LAsP Co September
Paget S >und Elec Cj August
Rio de Janeiro Tram
Light As Power Co. August
.
Jan. 1 to latest date.
263,149
119,813
179,710
188,834
53,861
20,780
24,177
490,209
173,989
...
St Joseph (Mo) Ry Lt
Heat As Power Co.
Sao Paulo Tr Lt Ac P.
Savannah Electric Co
Seattle Electric Co._
Sou 'Wisconsin Ry Co
Tamna Electric Co._
Toledo Rys As Light.
Toronto uailwav <jo.
Twln City Rap Tran.
Underground El Ry
of London—
Three tube lines
Current
Year.
$
September
—
August
August
August
August
August
...
109,422
53.931
1,640,044
"
"
149". 144
227\916
610,816
14,430
48.468
235,644
1,939,233
1,763,698
2,767,358
5,612,914
2,477,310
£520,300
£513,910
£400,726
£252,647
5,170,113
,
Metropolitan Dlst. Wk Oct 15
United Tramways. Wk Oct 15
UnlonRy.GAsECo(Ill) August
United RRs of San Fr July
Whatcom Co Ry As Lt August
...
c
219,083
621,753
36,841
£438,337
£264,060
1,895,832
4.373.496
265,509
1,792,412
4.190.658
260,355
These figures are for consolidated
company.
Electric Railway Net Earnings.—The
the returns of ELECTRIC
railway
following table gives
gross and net
earnings
reported this week. A full detailed statement,
including
all
roads from which monthly returns can be
obtained, is given
once a month in these
columns, and the latest statement of
this kind will be found in the issue of
Sept. 24 1910. The
Oct. 29
1910.
Roads.
£690
£2,<94
£367
£279,422
£275,722
Amer Light & Trac Co..Sept
Jan 1 to Sept 30
Cent*- '
ennTr^o..
Sept
Jan 1 to Sept 30......
£23,050
Chattanooga Ry & Lt.b.Sept
£18.892
£4,274
Year.
$
20,793
45,790
250,395
531,179
45,813
93,196
98,367
193,930
463,127
926,587
357,449
710,477
885,000
1,770,000
...
£def6,310
120,256£defl07,796 £def31,099
16,492
£8,595
13,132
£def7,262
26,394 £def33,075
534,038
£73,621
Reading Company
July 1 to Aug 31
LXXXXI
—Bal. of Net E'ngs.—
Current
Previousr
2
New Orleans Great Nor.
Aug
41,920
July 1 to Aug 31
83,695
N Y Ont As Western
Aug
126,492
July 1 to Aug 31„
233,113
Norfolk As Western
Aug
503,036
July 1 to Aug 31
1,006,487
Pere Marquette
Aug
424,056
July 1 to Aug 31
818,596
Aug 3,689,908
7,058,673
Aug 1,900,105
3,399,769
-Aug 5,590,013
10,458,442
Aug
Current
Year.
$
—Int., Rentals, <fec.—
Current
Previous
Year.
Year.
Roads.
$
393,326
2,750,120
806,432
4,535,705
3,600
11,751
3,510,464
1,218,605
1,203.638
6,602,862
2,392,678
2,298,639
1,780,164 defl47,450 def61,926
3,377,259 def355,660 defl56,166
5,290,628
1,071,155
1,141,712
9,980,122
2,037,018
2,142,474
Reading Company
143,847
147,859
July 1 to Aug 31
289,123
293,367
Total all companies
Aug
1,215,002
1,289,571
July 1 to Aug 31
2,326,141
2,435,841
Rio Grande Junction. _*
July
89,736
85,520
7226,921
7225,656
Dec 1 to July 31
645,553
583,409
72193,666
72175,023
Rio Grande Southern b-_
Aug
54,808
49,134
19,182
18,130
July 1 to Aug 31
109,581
94,257
38,470
30,989
Rock Island Lines_b
Aug 6,099,280
5,977,132
1,755,547
2,148,822
July 1 to Aug 31
11,410,219 11,393,734 3,123,819 3,905,707
St Joseph & Gr Island_b.
Aug
165,591
2 5,*2 78
154,407
38,883
July 1 to Aug 31
306,813
296,495
39,023
81,762
St Louis & San Fran_b-_Aug
3,641,549
3,607,765
1,230,721
1,110,402
July 1 to Aug 31
6,985,212
6,862,670 2,195,074
2,146,891
Chicago & East Ill.b.Aug 1,123,749
970,080
391,177
381,170
July 1 to Aug 31
2,033,743
1,823,210
674,590
681,170
Evansv & Ter Hau.b.Aug
272,192
233,582
120,096
114,416
July 1 to Aug 31
497,236
424,836
207,413
191,635
Total all lines.b
Aug 5,037,491
4,811,428
1,741,995
1,605,989
July 1 to Aug 31
9,516,192
9,110,717 3,077,077
3,019,696
St Louis Southwest_a
Aug
960,178
854,155
196,096
243,213
July 1 to Aug 31
1,870,665
1,652,948
373,263
452,007
outhern Paclflc.a
Aug 11,748,658 11,310,745 4,312,258 4,480,403
July 1 to Aug 31
22,963,930 22,125,315 8,209,719 8,479,856
Texas & Pacific.b
Aug 1,294,383
1,174,208
258,477
322,235
Jan 1 to Aug 31
9,858,075 8,811,103
1,780,671
1,601,137
Toledo Peo & Western, b Aug
124,623
107,372
36,541
36,133
b September
116,781
105,187
32,297
32,434
July 1 to Sept 30
335,307
296,166
82,736
84,778
Union Paclflc.a
-Aug 8,479,474
7,948,614
3,726,146 4,154,205
July 1 to Aug 31
...16,396,129 15,483,468 7,111,343
7,969,321
Virginia & Southwest_b. Aug
111,433
100,518
44,762
32,695
July 1 to Aug 31
202,887
202,633
73,551
67,969
Western Maryland.a
Aug
702,582
577,598
r279,978
r224,983
July 1 to Aug 31
1,337,698
1,122,655
r528,391
r428,821
West Jersey & Seashore.Aug
920,950
820,450
430,461 '
417,661
Jan 1 to Aug 31
4,367,883 3,981,483
1,067,855
1,117,955
Yazoo & Miss Valley.a.. Aug
719,924
742,968
35,228
def2,087
July 1 to Aug 31
1,391,542
1,386,899
89,233
def62,084
INDUSTRIAL COMPANIES.
-Gross Earnings
-Net Eamings-
July 1 to Aug 31
Coal & Iron Co.b
July 1 to Aug 31
Total both cos.b
July 1 to Aug 31
[VOL.
Jan 1 to Sept 30
Falrmrmt & Clarksb.b.Sept
Jai 1 to Sept 30
-Gross EamingsCurrent
Previous
Year.
Year.
$
3
335,099
2,653,156
68,199
623,109
288,631
2,306,122
-
Net
Current
Year.
3
325,538
2,563,733
62,979
564,747
77,022
650,947
67,806
574,785
62,032
445.,992
47,695
346.441
Earnings
21,351
180,167
38,636
$17,428
,
Previous
Year.
2
280,846
2,226,932
18,034
146,107
30,696
v
240,313
43,316
289,545
n
;
32,601
227,129
Oct. 22
Current
Year.
Roads.
imings
Previous
Year.
Interest Charges
CONDENSED BALANCE SHEET JUNE 30.
Net Earnings
Previous
Current
Year.
Year.
$
$
$
$
International Ry (Buffalo) b—
465,368
1,129,535
April 1 to June 30
1,204,376 2,124,815
870,890
Jan
1 to June 30------ 2,306,033
July 1 to June 30
4,867,367 4,555,630 2,039,062
Crosstown St Ry_b—
69,037
208,445
April 1 to June 30
224,898
120,546
404,971
1 to June 30
435,429
Jan
288,674
768,502
July 1 to June 30
887,494
262,895
584,287
628,685
Kan. City Ry&Lt Co.b-Sept
June 1 to Sept 30
2,491,370 2,302,242 1,003,196
73,785
155,899
Nashville Ry & Lt-a---Sept
163,307
563,854
1,266,683
Jan 1 to Sept 30—— 1,341,847
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes
497,068
850,748
1,857,550
Chattanooga Rys &
30
Jan 1 to Sept
Fairmont & Clarksburg.Sept;
Jan 1 to Sent 30
210,901
13,112
113,627
International Ry (Buffalo) —
283,069
270,170
April 1 to June 30
568,462
546,576
Jan
1 to June 30
1,147,715
1,102,311
July 1 to June 30
Crosstown St Ry—
51,094
60,414
April 1 to June 30
101,743
120,131
Jan
l to June 30
201,762
253,500
July 1 to June 30
172,512
189,119
Kansas City Ry&Lt
Septt
690,337
749,726
June 1 to Sept 30
33,023
33,390
Nashville Ry & Light.-Septt
295,283
302,267
Jan 1 to Sept 30
x After allowing for other income received.
*71,455
519,554
106,527
47,250
30,204
175,918
19,946
115,981
#202,287
£338,494
£967,624
£222,756
£297,867
£742,365
8,623
73,776
253,470
23,211
27,379
75,275
88,697
305,405
40,395
261,597
38,432
224,271
35,174
of steam
companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in which
it is published.
The latest index will be found in the issue
of Sept. 24.
The next will appear in that of Oct. 29.
Reports.—An index to annual reports
Great Northern Railway.
{Report for Fiscal Year ending June 30
1910.)
The full text of the remarks of Chairman J. J.
President L. W. Hill is given on subsequent pages;
Hill and
also the
the general balance sheet in
and income accounts,
detail, &c., &c.
Below we give a comparative statement of traffic sta¬
tistics and income account for the several years and balance
sheet for two years.
RESULTS OF LINES OPERATED AS GREAT NORTHERN RY. AND
THOSE INDEPENDENTLY OPERATED:
IOWA A GREAT
NORTHERN RY.. MINNEAPOLIS WESTERN RY. AND
DULUTH TERMINAL RY.
1909-10.
1908-09.
Average miles operated
Operations—
Passengers carried (number)
Passengers carried one mile
Average rate per pass, per mile
•Freight (tons)
•Freight one mile
•Average rate per ton per mile
•Average train-load (tons)
7,020
6,808
8,343,557
7,195,386
649,317,544 490,393,926
2.204 cts.
2.239 cts.
23,224,972 18,097,264
-.5,678,787,816 4841973,201
0.8219 cts. 0.8151 cts.
518
502
Earnings per passenger-train mile
51.486
$1,493
Earnings per freight train mile
$4.09
$4.26
Gross earnings per mile
$9,183
$7,886
•
Company’s freight excluded.
Earnings—
Passenger
Freight
Mall, express, &c
Other than transportation
Gross operating revenues
Expenses—
Maintenance of way, &c
Maintenance of equipment
Traffic expenses
Transportation expenses
General expenses
Total expenses
P. c. of oper. expenses to oper. rev..
Net operating revenue
Outside operations—net
1909-10.
$
1907-08.
6,956
6,956,966
493,009,745
2.270 cts.
19,268,175
5164024,158
0.7806 cts.
509
$1,498
$3.98
$8,254
1908-09.
$
1907-08.
$
226,982
11,189,553
40.311.420
2,711,100
217,560
64,465,370
53,687,444
54,429,633
11,773,314
7,520,634
9,797,370
6,173,847
9,588.747
8,170,109
14,311,800
46,675,734
3,214.934
262,902
10,977,948
39.464,811
3,017,703
922,104
18,068,666
993,378
745,847
14,822,546
1,013,877
731,337
16,652,134
39,278,096
(60.93)
32,553.487
36,146.236
25,187,274
240,009
1,003,909
(60.64)
(66.41)
21,133,957
249,198
18,283.397
333,744
Total net revenue
Taxes accrued
25,427,283
3,570,302
21,383,155
2,570,372
18.617,141
2,288,179
Operating income
21,856,981
18,812,783
1,098,540
1,016,900
16,328,962
2,173,122
General Interest
DIvs. and lnt. on securities
Profit on sale of assets
Hire of equipment—balance
Rents received and miscellaneous
377,952
185,231
693,636
817,502
167,383
653,475
172,459
592.169
379.207
518,558
23,113,800
22,566,583
20,164,477
230,890
•1,347,436
4,823,184
4,726,536
3,670,865
Ry. & Nav. deb. stock
118,177
on subscriptions for
$60,000,000 additional stock
Dividends on stock, 7%
14,698,663
121,723
14,697,473
10,483,055
Total deductions
Balance, surplus
19,776,622
2.789,961
17,695.645
2,468,832
Gross corporate income
Deduct—
Rentals paid
Hire of equipment—balance
Bond interest accrued
Deficit under guar, of int. on Koote¬
255,228
125,387
nay
155,862
Interest accrued
20,020,639
£3,093,161
2.038.427
•Rentals In 1907-08 include $1,179,988 paid to the former St.
Minneapolis & Manitoba Ry. (now merged) under lease from July
Paul
1 to
Oct. 31 1907.
■ ?
x Of the surplus as above in 1910, $2,319,158 was transferred to “fund
for permanent improvements and betterments” to cover cost of better¬
ments made to property during the year and $774,003 to profit and loss
In 1908-09 and 1907-08 the entire surplus was transferred to the better¬
ment fund.
$
,
“Ry. & Ind.”
system
roads
(see details on
Sec.
and
sub¬
sequent pages) 219,629,409 234,011,409
3,138,015
3,840,330
2,663,998
Unpaid pay-rolls 3,473,192
1,733,601
Unpaid coupons 1,991,490
2,184
4,312
Unpaid divid’s.
Vouchers unpaid
1,224
1,224
1,435,951
1,060,635
174,942
238,003
3,587,650
2,673,026
5,959,015
5,763,398
130,954
equipm't fund. 17,698,195
553,151
68,345 Insurance funds
2,864,328 Add’ns & bet'ts
paid from Im¬
1,509,396 prov'ts & Re¬
newals fund... 22,253,771
6,354,216
16,051,219
510,699
_
94,077
74,256
Transportation
Advanced chges.
Bills receivable
Other accounts
receivable
Material & fuel.
Oth. work, assets
def.
&
debit
items (net)..*_
.
2,127,354
2,634,363
7,638,305
M. bonds
retired by s. f.
384,000
since Nov. '07.
851,824
Miscellaneous
Profit and loss.. 34,997,560
cons.
549,676
.
526,817,517 532,976,819
Total
19,934,613
St. P. M. & M.
.
78,000
35,146’, 545
526,817,517 532,976,819
Total
* This is the excess of other working
assets and deferred debit items over
working liabilities and deferred credit items.—Y. 91, p. 1025, 790.
other
Atlantic Coast Line Co. of Connecticut.
{Balance Sheet of June 30 1910.)
(see details below) a majority of the
capital stock of the Atlantic Coast Line Railroad Co., namely,
$36,008,495 of its $57,964,400 common stock and sundry
It will be noted that the
other securities as shown below.
company now has a profit and loss surplus of $22,076,679.
We have been favored with the balance sheet of June 30
1910, which we compare with those of June 30 1909 and 1908:
This company owns
railroads, street railways and miscellaneous
revenue
1909.
$
Funded debt(see
Investments In
lnt. in
Cost of
C. B. &Q. stk.
held by trustee
of Joint bonds.109,114,810 109,114,810 Matured S. F. &
N. Ry. deben.
Other securities
Accrued
taxes,
& Investments
not due
(see details on
ac¬
Bond
lnt.
68,859,724
subseq’t page) 50,443,779
9,144,105
crued, not due.
Cash on hand..
6,651,358
Due from agents
3,168,630
2,188,468 Balance due af¬
filiated cos....
Due from U. S.
Improv'ts & betand Can. P. O.
term'ts fund..
144,353
127,624
departments . .
Depreciation of
Due from U. S;
ANNUAL REPORTS,
Annual
1910.
Capital stock...209,981,600 209,970,250
subseq't page) .344,193,284 332,598,121
74,305
129,122
277,037
261,209
995,742
415
.
Liabilities—
$
Ry. prop., inel.
advances
and
and Surplus.
193,063
12,655
111,148
1909.
1910.
$
Assets—
Bal. Oj Net Earns.
—Int., Rentals. Ac.—
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
$
14,944
7,184
23,512
23,692
Lt__Sept1
Roads.,
1091
THE CHRONICLE
1910.]
BALANCE SHEET JUNE 30.
Assets—
1910.
1909.
Securities deposited with Safe Deposit
$
$
& Trust Co. of Baltimore
a5,565,120 11,500,000
528,709
Railroad bonds
&532.381
Other bonds
c4,340,000 cl ,418,000
Railroad stocks
i
d36,084,101 25,241,906
1,415,023
Other stocks
el75,000
2,810,182
/504.730
Other assets
Bills receivable
25,000]
325,359
Advances
J
75,000
Real estate & building. Wash., D. C..
40,000
Notes secured by Wash, prop
Investment renewal rail fund
Debenture certs, of Indebtedness,
Bills and accounts payable
4%
949,809
75,000
244,412
161,750
59,988
606,425
48,607,026
44,491,289
45,492,705
17,640,000
12,600,000
5,00(1,000
5,000,000
3,000,000
12,600,000
5,000,000
5,000,000
3,000,000
1,317,075
Dividends accrued
Certificates of indebtedness, 5%
Certificates of Indebtedness, 4%....
834,209
1,494,000
25,341,906
1,415,023
2,810,182
161,513
290.887
724,710
Cash
Capital stock
11,500,000
63,347
279,529
997,818
Deposits for Interest and dividends. .
Total
Liabilities—
1908.
$
5,000,000
65,000
3,000,000
500,000
Deposit renewal rafl fund
63,347
Div. on stock & int. on certs, unpaid
0262,000
Reserve acct. Prairie Pebble Phos. Co.
22,076,679
Profit and loss surplus
161,513
303.390
161,750
18,729.776
18, lib",489
48,607,026
44.491,289
45.492,705
.
Total
Securities Owned June 30 1910.
of Baltimore as
ofBook
indebtedness
1897-1900:
Value.
Par.
bds_.$1,250,000 $1,245,000
with Safe Deposit & Trust Co.
Securities deposited
a
security for $5,065,000 certificates of
Atlan. Coast LineRR. 1st con. 4%
Atlan. Coast Line RR. of S. C. 4% bds.. 1,550,000
Atlan. Coast Line RR. 4% unified bds._ 3,011,000
b Railroad Bonds—
*
South Carolina Pacific Ry. Co. 1st 6%..
$81,600
Col. New. & Laur. RR. Co. 1st 3%
318,000
285,000
North Western RR. Co. of S. C. 4%
4.000
Atlan. Coast Line RR. con. 4%
c Other Bonds—
$525,000
Dutton Phosphate Co. 5%__
Prairie Pebble Phos. Co. 5% at par
Atlas Phos. Co. coll, trust 5% at par
d Railroad Stocks—
$50,000
Northwestern RR. Co. of South Carolina
142,000
Atlantic Coast Line RR. Co. class “A”_.
do
do
do common..33,118,600
do
30,000
Nashville Chattanooga & St. Louis Ry_ _
e Other Stocks—
Old Dominion Steamship Co
$120,000
-
Westlnghouse Air Brake Co
10ther Assets—
-
25,000
Reserve against stockholders’ liability for
Prairie Pebble Phosphate Co.—V. 90, d. 302.
{Report for Fiscal Year
$532,381
$359,000
1,268,000
2,713,000 $4,340,000
$50,000
142,000
35,866,495
25,606 $36,084,101
$150,000
25,000
1,272
36,208
$175,000
$504,730
claim to certain lands of
Cincinnati Hamilton & Dayton
Pres. Wm.
$65,751
201,958
261,000
3.672
$467,250
Charleston & Western Carolina Ry. sec. _
Col. Newb. & Laur. 5% certificates
g
1,550,000
2,770,120 $5,565,120
Railway.
ending June 30 1910.)
14, wrote in brief:
Cotter, Cincinnati, Sept.
General Results.—The operations, &c., for the year include the receiver¬
ship until Aug. 20 1909. The operating revenues for the year were
524, an Increase ova: the preceding year of 19.62%, or $1,549,476.
this gain, $1,266,929 was from freight traffic.
The average rate per
per mile was 0.529 cents, a decrease of 7%.
Bituminous coal
over half of the Increase In freight traffic, or 1,303,861 tons out of a
increase of 2,219,875.
The other large Increases were: Corn, 79,464 tons;
oats, 31,015 tons; ores, 53,267 tons; stone, sand and other like
101,068 tons; lumber, lath and shingles, 164,760 tons; manufactures,
257,642 tons; merchandise. 73,973 tons.
The passenger revenue shows an Increase of 6.27%, or $99,271, with an
average rate per passenger mile of 1.506 cts., as against 1.525 cts. In 1909.
The express revenue was $233,310, an Increase of 34.39%, or $59,707. ■
$9,446.Of
ton
furnished
total
articles,
The expenses of operation show increases aggregating $1,085,703. of
which amount $394,997 was in maintenance of way and structures; $164,776
in maintenance of equipment*.
There was a decrease of $537,850 In Interest
charges, brought about through the plan of readjustment effective Aug. 20.
The comparative Income account shows a deficit for the year of $720,263,'
as compared with a deficit for 1909 of $1,691,922, or a decrease of $971,658.
The charges to operating expehses have been made In accordance with
classification of expenses adopted by Inter-State Commerce Commission,
which does not permit of any charge that Is in the nature of an addition or
betterment, such charges being shown above.
1092
THE CHRONICLE
Reorganization.—The plan of readjustment
(V. 88, p. 1498,1436) was
Aug. 20 1909, at which time the receiver, who had beenput
In
charge since Dec. 4 1905, turned over to the company Its
busi¬
nto operation
ness.
the
property and
The receiver’s certificates and
notes, the company’s floating debt,
were paid or adjusted at or
unpaid interest on Its funded debt, Ac.,
about Aug. 20 1909.
As authorized by the
plan, there was executed a ‘‘first and
mortgage” dated July 1 1909, securing a total authorized Issue of refunding
$75,000,000 of 4% bonds, of which
$27,500,000 were Issued as follows:
To pay floating debt, Ac. ($5,500,000 of these are
guaranteed as
to principal and Interest by the Baltimore A
Ohio RR. Co.) _.$7,500,000
For working capital (all guaranteed as above
stated)
2,000,000
Construction and Improvement purposes,
equipment, Ac. (all
guaranteed as above stated)
5,000,000
For deposit as collateral security for
$11,557,000 of 1908 purchase
money collateral trust 4% gold notes maturing July 1 1913,
given to cover the purchase at par of $11,557,000 1904 refund¬
ing mortgage bonds....
13,000,000
Of the $9,500,000 of these bonds
authorized for the purpose of pay¬
ing the floating debt, Ac., and for working capital, all have been
disposed of.
The principal obligations retired
thereby are shown below.
Of the
and Improvement
J5,000,000
issued for
purposes,
been pledged
for construction
temporary loan to
meet payments due
ave
a
$700,000
on account
of construction of new ore dock and other
In progress.
On
June 30 1910 $4,300,000 of these bonds are Improvements
still In the treasury and will be
used as may be necessary to enable the
company to proceed with the con¬
struction program outlined for the calendar
year 1910.
Under the plan there was also executed a
general mortgage dated July 1
1909, securing a total authorized Issue of $20,000,000 4H% bonds, entitled
to Interest only as follows: For the two
years ending June 30 1911 only to
extent warranted by net Income, In the discretion of
board; for next 3 years,
1% fixed, 3H% contingent as above; next 2 years, 3% fixed, 1
con¬
tingent; after July 1 1916, 4^% fixed Interest.
The entire $20,000,000
were Issued as follows:
Delivered to be exchanged for $15,000,000 4H% coll, trust notes
due Sept. 1 1908, par for par
Delivered to Pere Marquette RR. Co. In full settlement of $15,000,000
award of arbitrators April 30 1908
1,364,000
Used to pay or adjust sundry
outstanding unsecured notes
1,272,000
Held In treasury of this
company for corporate purposes
2,364,000
As a part of the plan, the certificates
representing $1,074,500 C. H. & D
Railroad 4% pref. stock and the certificates
representing $6,676,925 C. H.
A D. Railway 5% pref. stock which
had been deposited with the Central
Trust Co. under certain agreements made In 1904
and 1905, have been re¬
leased and canceled.
_
Bonds Issued During Year ended June 30 1910—Total
$29,548,000.
First and refunding mtge. 4%
bonds, Issued as above stated,
$27,500,000; deduct amount pledged for retirement of other
debt, $13,000,000; amount pledged as collateral for
temporary
loans, $1,023,000, and amount held In treasury, $4,300,000;
remainder outstanding
$9,177,000
Gen. mtge. bonds Issued as above
stated, $20,000,000; deduct
bonds to be exchanged
par for par for 4H% coll, trust notes,
$288,000; bonds pledged as coll, for temporary loan, $300,000;
bonds received In treasury C. H. & D.
Ry. In exchange for
coll, trust notes, $64,000, and bonds held In
treasury, $2,064,000; remainder outstanding
17,284,000
Purchase money coll, trust 4% notes due
July 1 1913, Issued
In exchange for
refunding 4% bonds of 1904
767,000
8% equipment gold bonds Issued for the purchase of
2,500 cars
and 25 locomotives (V. 90, p. 771)
2,320,000
Bonds Retired During Year ended June 30
1910—Total, $15,797,000.
Refunding 4 % bonds exchanged for 4% notes as above stated..
$767,000
Collateral trust 4H% notes exchanged for
gen. mtge. 4H%
bonds (seeabove)
14,712,000
Equipment notes
318,000
In addition, $17,500,000 4
H% consols dated Jan. 2 1905 have been can¬
celed and the mtge.
covering the same satisfied.
These
bonds
were all
held as collateral for obligations
paid in accordance with the plan.
During the year receiver’s certificates
to the amount of $893,217 were re¬
tired, leaving outstanding $62,081.
Disbursements (Aggregating $7,745,784) Made from Proceeds
of $7,500,000
First and Refunding Bonds and
$250,000 Purchase Money Notes ($245,784).
Receiver’s certificates and demand notes
$1,351,830
Interest on funded debt and on notes, secured and
unsecured..
2,866,307
Services and expenses of counsel,
committees, mtge trustees, Ac.
175,183
Claims for material and supplies furnished
prior to receivership.
913,119
Repayment of advances In connection with Ashland A
Ironton
Bridge Co
329,825
Dayton A Union RR. loan..
112,500
Cash.payment on new equip, and commission on sale of
eq. bds_
608,905
Temporary loan from working fund to construction fund
402,122
Discount on $7,500,000 bonds at 11 H
_
862,500
Miscellaneous.
123,493
Tb« $2,000,000 first and refunding
mtge.
bonds
(not
guaranteed) were
used In settlement of the
$1,762,670 outstanding secured notes issued
the company In 1905 and held
by
by various banks.
Properties Included.—The statistics and tables shown
throughout this reover:Avenue
operations
Cincinnati Hamilton & Dayton Ry.,
>ayton A Michigan
RR., Home
RR.,
Wayne Ry., Cincinnati Indianapolis A WesternCincinnati Findlay A Ft.
Ry., Columbus Findlay
& Northern RR.,
Bowling Green RR., Plqua A Troy Branch RR. and
Cin¬
cinnati A Dayton Ry.
Track, Ac.—Net Increase In side track, 12.36 miles;
cross-ties used on
main and side tracks, 320,500.
11,500 tons of 85-lb. rail was
50 miles of rail was
laid, namely, on Toledo division, 40 (20 milespurchased
of double
track), and on Indianapolis division, 10 miles
(single
track).
The main
line between Cincinnati and Toledo
is now laid with 85-lb. rail for
the entire
distance excepting 15 miles, which Is laid with
75-lb.
rail
and
Weber
The Indianapolis division now has 27
Joints
miles of 85-lb. rail laid on
heavy grades
and curves.
Bort Include the
'
A number of
bridges on the Toledo division are being
replaced by new
a very
32.2 miles of automatic block signalslarge expense, estimated at $500,000;
were erected.
Construction.—At Dayton new freight houses and
tracks are being built
at an estimated expenditure of
$164,000, including $50,000 for land
In April 1910 the work of
reconstruction and
the line
between Kirkwood and
Swanders, O., 10/3 miles, double-tracking
was commenced, reduc¬
ing the grade from 0.8% to 0.3% and
reducing
the
curvatures
by 30 degrees
When completed, the maximum
grade on the main line of the
Toledo divi¬
sion will be 0.45% and engine
ratings will be Increased over this district
The work should be finished
40%
early In 1911, Including a concrete
the Miami River.
bridge over
The estimated cost of this
Improvement Is $661,000
The work of construction of
gravity yard, 16-stall round house, cinder
pits, coaling pits, oil house, water
supply, &c.t is well under way, and on
June 30 1910 nine miles of track therein
were completed and In
tion.
opera¬
The yard, when completed, will
have a capacity of 3,000 cars.
Esti¬
mated expenditures for this work,
$350,000.
The building of new ore docks was
authorized at a cost of $1,075,000
con¬
sisting of two 15-ton Hulett rapid unloaders, rated at
500-ton capacity per
hour each; a 10-ton bridge over
storage, 485 feet In length, all erected
on
concrete foundation on piles.
The dock will have a
storage capacity of
500,000 tons of ore. The entire plant will be
completed this winter
Equipment.—During the year contracts were made for the
20 consolidated locomotives, 5
purchase of
Pacific type passenger
locomotives, 500 steel
under-frame 80,000 pounds capacity box cars
and 500 automobile cars
the same type; also 1,500
of
100,000-pounds capacity steel coal cars.
Of this
equipment prior to June 30 1910 the
were received: 25 locomo¬
following
tives, 500 box cars, 500 automobile cars and 756
coal cars
There were 188 cars destroyed
by accident and fire on this and
foreign
lines, and 2,229 cars were condemned and taken out
of service, account of
light capacity, age and condition.
There was a net debit of $678,352 to
‘‘additions and betterments ” occa¬
sioned by total net debit of $2,713,452 and
total net credits of $2 035
some of the more
000
Important Items being:
’
’
Debits.
Credits.
Debits.
Credits.
Right of way, Ac_$216,697
Docks: 'c—_ $334,203
Grade revls., Ac.
$12,000
25,982 $119,418 Equipment
1,840,923
Bridges A trestles 37,262
1,206,669
98,144 •Equip, r^plac.
Terminal yards._
543,431
84,463
1,080 Int. tc comms.
•
55,725
This $543,431 represents the
balance In equipment
replacement
acoountsfor equipment taken out of service
credited to additions and betterments In prior to July 1 1909, and has been
accordance
with, recent frullne of
Inter-State Commerce Commission.
- u
8
bridges for‘‘E 60” loading at
[VOL.
LXXXXI
OPERATIONS AND FISCAL RESULTS.
1909-10.
1908-09.
1907-08.
Average miles operated
1,036
1,036
1,038
Operations—
Passengers carried
3,195,963
3,122,489
3,880,614
Passengers carried one mile—
111,717,344 103,820,342 108,080,549
Rate
per passenger per mile
Tons revenue freight carried
Tons rev. freight carried one mile
Rate per ton per mile.
Gross earnings per mile
Operating Revenues—
Freight revenue
Passenger revenue
1.506 cts.
1.60 cts.
7,768,675
7,863,164
1277723567 964,320,094 897.915,356
.
Mail and express
Other transportation revenue
Other than transportation
_
0.529 cts.
0.569 cts.
$9,118
0.62 cts.
$7,622
$7,671
.$6,757,319
1,682,031
415,061
$5,490,390
$5,600,595
1,725,774
1,582,760
354,903
291,1621
_
.
_
_
_
349,811
242,302
Total operating revenues
$9,446,524
Operating Expenses—
Maintenance of way and structures. .$1,465,361
Maintenance of equipment
1,666,091
Traffic expenses
282,277
Transportation
1.525 cts.
9,988,050
expenses
$7,897,048
$7,960,612
$1,070,363
$1,090,972
1,708,062
256,739
3,514,329
227,095
1,501,314
255,628
3,421,168
253,12-1
3,876,400
297,167
General expenses
Total operating expenses
Net operating revenues
Taxes
$7,587,296
$1,859,228
308,762
Operating Income
Other income
Hire of equipment
379,441
254,802
177,832/
$6,501,594
$1,395,454
$6,797,197
$1,163,415
302,013
306,002
•
$1,550,466
$110,190
Dr.106,428
$1,089,452
Dr.64,013
Cr. 238,68 2
$1,554,228
$1,131,078
$1,146,421
$1,786,899
$2,206,176
191,847
$1,672,256
173,747
Total Income
Deductions—
Interest on funded debt
Interest on bills payable
Interest on receiver’s certificates
Rentals paid
117,257
10,747
359,588
Miscellaneous
Total deductions
Deficit.
$2,274,491
$720,263
$861,402
$46,337
$105,639
54,730
370,247
60,775
a550,478
6363,072
$2,823,000
$1,691,922
$2,820,323
$1,673,902
Includes rentals, $375,568, and Joint facilities, $174,905.
“other deductions,” $349,107, and deficit from
operations, $13,966.
a
6 Includes
outside
BALANCE SHEET JUNE 30.
1910.
1909.
1910.
1909.
Assets—
$
$
LiaMlUies$
$
Road, equip., Ac.a45,356,527 44,326,335 Common stock
8,000.000 8.000.000
Securities
616.963.068 27,740,572 Preferred stock...
248,575 8,000.000
Securities in treas. 7,063,673
275,673 Cap. stock (leased
Marketable secur’s
80,250
5,250
lines)
3,713,200 3,713,200
Other investm’ts.cie,310,396 18,234,447 Funded debt
85,537,273 68,249,273
Cash
386,483
435,383 Receivers’ ctfs...
62,081
955,298
Deposits for ma¬
Loans A bills pay. 1,262,500
2,267,795
tured
interest,
Traffic, Ac., bate.
427,740
372,461
rents, Ac
753,099
368,113 Vouchers A wages 1,004,967 1,884,169
Traffic, Ac., bate.
183,551
96,390 Matured int., dlvs.
Agents A cond’re.
587,779
A rents unpaid.
380,914
737,697 4,053,960
Mat’ls A supplies.
797,080
697,159 Miscell. accounts.
397,495
385,036
Mlscell. accounts.
554,704
370,561 Acer. int. ,dlvs., Ac.
157,145
581,419
Acer. int. not due.
15,998
6,972 Taxes accrued
208,464
209,931
Advances
816,430
872,008 Operating reserves
62,581
65,765
Special deposits
1,020,982
200 Oth.def.cred.ltems
174,595 2,7.10,123
Sinking fund
288,000 2,595,000
Oth.def.deb. items
233,966 2,653,356
Profit and loss
10,582,325 3,490,097
..
Total
a
After
101,994,312 102448,430
Total
101,994.312 102448,430
deducting $684,544
reserved for accrued depreciation.
b Includes in 1910 securities of
proprietary, affiliated and controlled
pledged, $2,637,734, and unpledged, $2,335; and securities issued
pledged, $14,323,000.
companies,
assumed,
or
c Other Investments include in
1910 advances to proprietary, affiliated and con¬
trolled companies for construction,
equipment and betterments. $1,206,445 and
miscellaneous. $15.103.951.—V. 91.
p.
588.
Pere
Marquette Railroad.
CReport for Fiscal Year ending June 30 1910.)
Pres. William Cotter, Detroit, Sept. 14
1910, wrote in brief:
General Results.—The gross revenues for the
year were $16,542,271, an
increase of $1,912,444.
Of this gain $1,425,511 was in
freight traffic, with
an increased tonnage of
1,210,535 tons and of 203,575,563 tons carried one
mile.
The average rate per ton per mile was
.591c., as compared with
.577c. in 1909.
The most important gains in the
freight traffic can be
accounted for by increased shipments of the
following commodities: Coal
and coke, 391,379 tons; stone,
sand, Ac., 170,224 tons; lumber, lath and
shingles, 178,406 tons; other products of forest, 102,787 tons: miscellaneous
car-load shipments, 130,598 tons.
The principal decrease in the
tonnage
was:
logs, 144,388 tons; ice, 101,840 tons.
The passenger revenues show an increase of
$340,845,
with
an average
rate per passenger per mile of
1.770c., as against 1.774c. in 1909. The
number of passengers carried Increased
365,581.
The increase in the
number of passengers carried one mile was
19,773,052.
This represents an
increase in passengers carried one mile of
10.42%,
which
is slightly over the
normal increase per year, iargelv accounted
for Dv additional trains. •
The expenses of operation show increases
aggregating $1,117,262, of
which $263,217 was in maintenance of
way and structures and $99,206 in
maintenance of equipment.
The percentage of expenses to gross revenues
was 70.72%, as against 72.33% In
1909.
The taxes were $755,641, an
increase of 30.98%, or $178,748.
The general income account shows the net
Income, after payment of inter¬
est on the funded debt, taxes and all other
fixed charges, to have been
$469,714, which is an increase of $429,063.
Additions, Ac.—The charges to operating expenses have been made in
accordance with classification adopted by Inter-State
Commerce Commis¬
sion, which does not permit of any charge that is in the nature of an addition
or betterment—such
charges being provided for under their classification
of additions and betterments, as shown below:
Charges, Ac., to Additions and Betterments—Net Debit, $215,959.
Total debits (chiefly bridges, trestles and
culverts, $67,599;
sidings and spurs, $79,403; terminal yards, $69,980; equip¬
ment, $710,590)
$1,181,114
Total credits (bridges, trestles and
culverts, $39,429; sidings and
spurs, $70,036; terminal yards, $12,147;
equipment, $182,796; equipment replacement, $498,435), Ac
915,155
The “equipment replacement”,
$498,436, here shown, represents the
balance in equipment replacement accounts for
out of
service prior to July 1 1909, which has been credited equipment taken
to additions and better¬
ments, in accordance with recent ruling of the Inter-State Commerce Comm.
Mileage.—The decrease of 7.56 miles in total mileage operated is made
up as follows: Decreases, Coloma to Paw Paw Lake, leased to B. H. A
St. J. Ry. A L. Co., 2.72 miles, and Gerber branch track taken
up, 4.93
miles: corrections, net increase. .09.
Capitalization.—During the year there was no increase in the capital
stock, but the bonded debt was decreased $141,183, as follows:
4% refunding bonds issued in exchange for equipment trust
notes and equipment bonds retired,
$934,000; issued on ac¬
count of additions and
betterments, $200,000
$1,134,000
Equipment notes (5% notes issued in favor of Amer. Locomotive
Co. for 12 locomotives receivable Dec.
1909, $125,955, and
5% notes. Series C, issued in favor of Pullman Co. for 20
coaches, 10 baggage, mail and express cars purchased under
car least agreement dated June 15
1910, $232,752.
358,707
Total bonds and equipment notes issued (see also V.
91,
Equipment bonds and notes retired
Decrease in bonded debt
p.
946) $1,492,707
1,633,890
—
-—
$141,188
Oct. 22
Capital Expenditures.—Payments have been made out of current cash
total ol $1,904,755 for sunary ooligatmns ceriilicates as follows:
Paid the C. H. A D. Ry. Co. on account of Kleybolte equipment
to a
$68,744
maturing during
this fiscal year
1,592,152
Paid Amer. Locomotive Co. for 25% of total cost of 12 locomo¬
tives purchased during year, $41,985; notes, maturing April 3
1910, issued Jan. 3 1910, for bal. of purchase price, $10,955__
52,940
10,919
Paid for 2 locomotive crane9_
For receiver’s certs., Issued May 5 1906, and retired Aug 1 1909
180,000
Refunding bonds to the amount of $837,000 were Issued to reimburse
the treasury, account of payments as above, but these bonds have not been
sold and are at present under pledge for short-term loans.
agreement under award of arbitrators
Paid holders of old equipment bonds and notes
trust
which said $1,904,755 Cash was Derived.
of $635,000 Pere Marq. 4% ref. bonds at 75-.$476,2r0
short-term notes
685,700
Sources from
Proceeds from sale
Cash borrowed on
469,714
248,930
24,161
during the
renewals and 50,982
gravel and cinders.
300 additional cars.
At Rose Center the alignment of 1
miles of main
line is being changed to reduce curvature and to avoid the re-building of
There were 149,729 track feet of 75-lb. rail and 2,342 track
one bridge.
feet of 70-lb. rail laid on main line.
Three new steel bridges on concrete
abutments and piers, replacing wooden structures, have been constructed.
Five wooden bridges were constructed, replacing open culverts.
Equipment.—During the year contract was made for the purchase of 20
first-class coaches, 8 baggage cars and 2 baggage and mall cars.
There
were also purchased during the year 17 consolidated freight engines, 5
Pacific type passenger engines, 5 large switch engines and 1 locomotive
coaling crane.
One 8-wheel engine was sold and 1 small mogul and 5
Surplus for year ended June 30 1910
Decrease in assets account collections made on outstanding
and from agents and conductors
Increase In sundry liabilities
- - - -—
Roadway and Track.—There were 519,314 cross ties used
year,
370 613 In main track renewals, 97,719 In side-track
for new work; 105.61 miles of track were ballasted with
At Flint extensive changes to yard facilities Increased the capacity to
bills
accident
retired from
1909
$1,094,of
In connection
depreciation prior
destroyed, removed of
8-wheel engines were scrapped; 142 cars were destroyed
fire or
on lines of this company and on foreign lines: and 49 cars were
service on account of age and small capacity.
Profit and Loss.—The profit and loss debit as of June 30
was
426.
This account was debited during the year with $405,972, account
charges for discounts on bonds sold; legal and other expenses
with the reorganization of the Pere Marquette RR.,
to
July 1 1907 on equipment, tracks and structures
sold; and other sunary adjustments during the year.
The account was
credited during the year with $818,400, the estimated value of 1,364 gen.
mtge. bonds received from the C. H. A D. Ry. Co. in
by
settlement of award
claim against the C. H.
Dec. 4 1905. Sundry
income account of
made by arbitrators of the Pere Marquette RR.’s
A D. Ry. relating to the lease period March 7 1905 to
items amounting to $55,828, and the balance from
year,
$469,714, were credited to this account during
the
leaving the debit
June 30 1910, $156,456.
Need for Improvements.—Notwithstanding the gross revenues exceed
those of any previous year, the company is not able therefrom to make
much needed improvements.
The increase of 30.98% in taxes, the in¬
creases in wages, the higher prices for material and the loss in net revenues
through the continued operation of the 2-cent fare law in the sparsely
settled communities in Michigan, have made this impossible.
to
profit and loss account
OPERATIONS. EARNINGS. EXPENSES, AC.
2,331
5,633,295
209,500,679
Earnings per passenger per mile
1.770 cts.
Earnings per pass, train mile..
$0.9077
10,527,251
carried
carried one mile. 1,884,653,706
Earnings per rev. ton per mile.
0.591 cts.
Revenue tons
Revenue tons
$0.8486
2,362
4,964,247
178,248,126
1.849 cts.
$0.8260
0.577 cts.
306.58
$1.77001
$6,228
0.602 cts.
287.68
$1.73267
$5,823
2,349
5,267,714
189,727,627
1.774 cts.
9,316,716
8,866,962
1,681,078,143 1,498,589.964
322.96
$1.90748
$7,097
freight train mile:
Earnings per freight train mile..
Gross earnings per mile
1907-08.
1908-09.
1909-10.
operated
Passengers carried.
Passengers carried one mile
Average miles
Tons per
INCOME ACCOUNT.
1909-10.
Operating Revenue—
$11,131,076
3,707,311
605,474
394,569
157,192
546,649
Passenger
Mail and express
Other transportation revenue
Revenue from oper. other than trans.
Outside operations
1908-09.
1907 08.
$9,705,565
$9,025,916
3,295,704
3,366.466
578,505
359,768
159.261
460.262
575,228
304,938
121,134
431,061
$16,542,271 $14,629,827 $13,753,982
Operating Expenses—
$1,932,437
2,117,700
$1,669,220
$1,620,206
2,018,494
349,971
5,712,493
357,017
474,385
5,795,436
362,072
417.730
420,298
Traffic expenses.
6,370,632
362,173
General expenses...
Outside operations.
495,602
2,044,500
306 044
$11,698,842 $10,581,580 $10,545,988
Per cent expenses to
earnings.
Taxes
(70.72)
4,843,4 9
755,641
(72.33)
(76 68)
4,048,247
3,207,994
553,239
$4,087,788
$3,471,354
238,209
$2,654,755
Dr.16,820
$4,070,968
$3,709,563
$3,157,129
$2,898,793
$2,941,151
$2,731,618
Deduct—
11,690
17,005
699,066
825
676,589
$3,601,254
$469,714
BALANCE SHEET JUNE
1910.
$
576.893
25,047
Interest on bills payable
Interest on receiver’s certificates
Rentals
502,373
41,763
102,981
674,433
$3,668,912 $3,550,795
$40,651 def.$393.667
30.
1910.
1909.
1909.
$
$
Liabilities—
16 ,166,600 4,538,900
Road, equip., Ac.a87,748,170 87,123,611 Common stock
11,906,200
Securities owned.610,118,856
9,081,856 Preferred stock...12 ,125,300
208,100 12,054,900
739,468 Stock of sub. cos..
Other Investments C793.040
269,584 L. E. A D. R. Ry.
Cash
653,199
1,400,000
common stock.. 1 400,000
Deposits for Inter¬
832,914 Mtge.. bonded,Ac.,
est A dividends.
819,959
debt (see “Ry. A
731,997
Securities In treas.
193,998
Ind.” section)..67 ,796,867 67,938,050
Marketable secur’s
818,585
180,000
91,598 Receivers' ctfs...
Traffic balances..
159,155
602,748 Vouchers A wages 1 ,575,042 1,292,695
Agts. & conductors
480,612
864,300
760,793 Loans A bills pay. 1 ,550,000
Material A supplies
744,753
276,777
372,817
604,094 Traffic balances..
Mlscel. accounts..
535,785
Matured lnt., divs.,
Accrued Income not
910,502
821,159
Ac., unpaid
19,788
due
10,051
174,760
214,802
131,665 Mlscel. accounts..
Advances
101,817
460,513
439,488
70,890 Accr.int.,divs.,Ac.
Prepaid rent A Ins.
84,045
289,086
355,646
Accrued taxes
Other deferred deb.
45,326
451,921 Operating reserves
Items
209,656
Profit and loss
1,094,426 Other def. credit
156,456
320,669
556,990
items
Assess—
Total
a
$
103,628,137 102607,353
Road, franchises and equipment
Total
103,628,137 102607,353
(lncl. leasehold estate),
$87,748,170 In 1910,
1907, $81,873,241; investment since June 30 1907,
$6,211,357; less reserve for accrued depreciation, $336,428.
6 Includes in 1910 securities of proprietary affiliated and controlled companies,
pledged, $3,642,961, and unpledged, $139,894; also securities Issued or assumed,
Includes investment to June 30
pledged, $6,336,000.
c Other investments Include In 1910 physical
unpledged, $454,994.—V. 91. p. 1026. 946.
1093
THE CHRONICLE
1910.]
property, $338,046, and securities
Canadian Pacific Bailway Co.
{Proceedings at 29th Annual Meeting Held on Oct. 5 1910.)
President Sir Thomas G. Shaughnessy said in substance:
The 29th annual report Is now before you
In round figures the gross revenue of your
of the ocean steamships, show an Increase as
(V. 91, p. 727).
railway lines, and exclusive
compared with the previous
year of $18,600,000, the working expenses an Increase of $7,700,000 and
the net earnings an Increase of $10,900,000.
The actual result was some¬
what better than this, because the directors thought it wise to create at
the cost of working expenses an additional fund of about $3,700,000,to
provide for maintenance works of one kind or another that were contem¬
plated, but could not be completed In the current year.
These figures furnish conclusive evidence of the growth and progress of
Canada and of the earning power of your property, and they show In a
most emphatic way that the large sums of money provided by you during
the past seven or eight years for the Improvement of your railway and for
facilities of every description over the whole system are yielding handsome
returns In the efficiency with which your traffic Is being handled.
Insufficient rainfall In some sections of Western Canada during the
growing season had a damaging effect upon the grain crops, with the result
that the quantity of wheat to be moved during the next few months Is
considerably less than It would have been had normal weather conditions
prevailed. Up to the present time this has had no material effect upon the
revenue, but It Is not Improbable that later on In the year there will be
some shrinkage In gross earnings.
Dividends.—At the meeting of the directors In August last It was decided
to Increase the dividend on the common stock to 7% per annum, exclusive
of the 1 % paid from land revenue, making a total distribution of 8% (V. 91,
Your directors are aware of the feeling amongst the shareholders
p. 396).
that, taking Into account the Income and financial position of the company,
this is scarcely sufficient, and If last year’s returns be taken as a basis, that
feeling is not without reasonable foundation, but we must not lose sight
of the fact that conditions may not always be so favorable, that we may
have lean years, and that In such a contingency a large cash reserve will be
a source of convenience and strength.
•
*
v
But, then, apart from the surplus earnings, you have extraneous assets In
deferred payments, or land mortgages, cash proceeds of land sales, and
other items of a like character in process of realization, that may be roughly
estimated at $50,000,000, without taking into account your unsold lands,
and in ordinary course this amount should be substantially augmented
within the next few years (compare V. 91, p. 729).
In the opinion of your directors, the best Interests of the company aqd Its
shareholders will be subserved by keeping Intact a considerable portion of
these assets. Instead of resorting to the policy ordinarily characterized as
melon-cutting, which has not always proved a boon to the beneficiaries.
At the same time there Is every reason why the shareholders of the present
day should expect such advantage In the way of Income from these assets
as may be possible without unduly encroaching on the principal, and it is
the Intention of your directors to determine during the coming year how
this can best be brought about.
Steamships.—There nas been a very striking expansion In the passenger
traffic between this continent and Europe through Canadian ports since
two steamships, the Empress of Britain and the Empress of Ireland,
put Into service, and the time has now arrived when steamships of
greater size and speed should be provided for the route In the Interest of
Canadian ports, the country generally and the rail transportation lines.
While there has not been the same Increase of traffic on the Pacific Ocean,
there has been a steady growth, and your steamship line has been securing
at least Its proper share.
While your Pacific Ocean boats are still In
excellent condition, they are now too small for the trade and should be
your
were
replaced.
Plans for meeting the situation on
both oceans are now receiving
the next few weeks they
attention, and your directors expect that within
will be able to complete an arrangement.
Quarterly Dividend
Distributions.—Among the measures that will come
before you lor approval at this meeting Is a by-law amending the existing
by-laws so as to remove the necessity for closing the books in Montreal,
London and New York before the payment of each dividend on the common
shares.
This will make it practicable to deal with the dividend quarterly
Instead of half-yearly, and your directors propose to do this commencing
with the first quarter of the current year.
Abstracts of Certain Resolutions
Unanimously Adopted (See
Report,” V. 91, p. 727.)
(1) That the lease of the New Brunswick Southern Ry. Co.
“Annua1
be approved.
for 999 years the railway now
constructed from St. John to St. Stephen, N. B., a distance of about 83
miles, at an annual rental of a sum equal to the Interest payable on the
bonds of the said the New Brunswick Southern Co. at present outstanding,
amounting to $500,000, at the rate of 3% per annum, and on such bonds
as may be issued by the New Brunswick Southern Co. to replace or redeem
the said outstanding bonds at such rate as may be agreed upon by the two
companies (V. 91, p. 717, 727).
(2) That the lease of the St. Maurice Valley Ry. Co. be approved.
This
Indenture demises to this company for 999 years the railways of the St.
Maurice Valley Ry. Co. as now constructed from City of Three Rivers to
Shawlnlgan Falls, thence to Grand Mere, all In Quebec, a distance of about
27 H miles, and all other railways or branches hereafter constructed by
that company, at an annual rental of a sum equal to the Interest payable
on all bonds carrying Interest at not over 4% per annum, payable halfyearly, which the lessor may Issue at the request of this company, the pay¬
ment of such Interest being guaranteed by this company, ana the aggregate
of all such bonds outstanding not to exceed at any time the rate of $35,000
per mile of railway then either constructed or under contract to be con¬
This Indenture demises to this company
structed (V. 91, p. 728).
(3) That the lease of the Kootenay Central Ry. Co. be approved.
This
Indenture demises to this company for 999 years the whole of the railways
and branches which the said the Kootenay Central has been by law author¬
ized to construct, and whether constructed or to be cosntructed, including
the railway from Fort Steele to a point about 5 H miles east of Wardner
and from Fort Steele to Golden, all In British Columbia, and all other
railways or branches hereafter constructed by that company, at an annual
rental of a sum equal to the interest payable on all bonds carrying Interest
at not over 4% per annum, payable half-yearly, which the lessor may Issue
at the request of this company, such Interest being guaranteed by this
not to exceed
handed over In sec¬
company, and the aggregate of such bonds outstanding
$30,000 per mile of railway actually constructed and
tions for operation (V. 91, p. 728).
(4) That the action of the board In authorizing the construction of
irrigation works for the purpose of irrigating the Eastern Block of the
company’s land grant in Alberta, east of Calgary, at an estimated cost of
$8,500,000, be approved (V. 91, p. 727).
(5) The directors are hereby authorized to purchase the £270,000 prefer¬
ence stock of the Dominion Atlantic Ry. Co. at 60% of par and the £230,000
ordinary stock at 20% of par, and to acquire all or any portion of the
securities of said company at such prices as they may deem advisable and
to take a lease of the said railway for such term as may be agreed upon.
Said lease may provide for the guaranty by this company by way of rental
of the Interest upon the said company’s existing securities and such other
securities as the said company may Issue for Its purposes, with the consent
of this company (V. 91, p. 728).
(6) That for the purpose of aiding the construction and equipment of
branch lines [aggregating 553 miles), all In the agricultural districts of
Manitoba, Saskatchewan and Alberta.—Ed.], the directors may Issue and
dispose of consolidated debenture stock of the company to such amount
as they may deem expedient, not exceeding In the aggregate an amount
equal to £6,000 sterling per mile In respect of the Moose Jaw-Outlook
Branch extension (118 miles), the Reglna-Colonsay branch (134 miles),
the Langdon branch (40 miles) and the Vlrden-McAuley branch (36 miles);
£5,000 sterling per mile In respect of the Weyburn-Lethbridge branch (50
miles), the Stonewall branch extension (56 miles), the Craven-Bulyea
branch (21 miles), and the Klpp-Aldersyde branch (58 miles), and £4,000
sterling per mile in respect of the extensions of the Lauder-Grlffin branch
(33 miles), and the Snowflake branches (7 miles).
[Resolutions were also adopted changing the by-laws and re-electing
the three retiring directors.]—V. 91, p. 945, 727, 716, 711.
of Baltimore.
{Report,for Fiscal Year ending June 30 1910.)
President Ferdinand C. Latrobe, Baltimore, Oct. 3 J910,
Consolidated Gas, Electric Light & Power Go.
wrote in substance:
1094
THE CHRONICLE
General Results.—As compared with the previous fiscal year,
the gross
Income shows an Increase of $249,822, or
5.8%, and the net earnings
$263,875, or 12.1%. For ordinary repairs and maintenance there was
expended and charged to operating expenses $323,752, or 6.8% of the
Income.
gross
The electric division secured additional business
representing a connected
load of 8,300 k. w.
The total number of electric consumers on June 30 was
14,995, an Increase of 1,485, or 11%.
Though much of the new business
acquired was connected during the latter part of the year, our sales show
a kilowatt Increase over the
year preceding of 16%.
The prospects of a
considerable Increase In the sale of electric current for domestic, commercial
and Industrial purposes are very promising.
Improvement In the service
and economies In operations were continued, the ratio of
operating expenses
and taxes to gross Income In this division
being 5.63% less than in the
P
The
tots! sales
Indicating
of gas show an Increase of 4.7% over the previous year
a return to normal conditions
To keep pace with the develop¬
ment of the city and Its suburbs, 30 2-3 miles of street mains and
5,689 new
gas services were added, there being on June 30 altogether 625 1-5 miles
of mains In use and a total of 96,416 gas consumers, an Increase of
5,494, or
6%. for the year. There have been Installed by the company 7,039 gas
ranges and 1,947 water heaters, making a total of 8,986, an Increase of
about 14 %.
The ratio of operating expenses and taxes to the gross Income
of the gas division was reduced 1.56%.
Contract for Pouer.—The negotiations for the purchase of [15.000 k. w.
of] hydro-electric power from the Pennsylvania Water A Power Co were
not completed during the year, but have since been concluded.
The neces¬
sary cables and sub-station Installations for handling this current are about
completed and will be In readiness to receive It when the service ts InaugU
rated. __[As to this contract, also the acquisition of virtual control
by the
Penn. w. & P. Co. Interests, see the Consolidated Co. in V. 91,
p. 947; also
compare V. 90, p. 979, 375.]
Additions.—Expenditures for new construction amounted to $445,414,
as follows: gas division, $267,250;
electrical division, $178,164.
Improvements during Last Five Years.—The properties of both divisions
are adequate to meet the demand and In better
physical condition than ever
before.
This Is largely the outcome of the constructive work of the
past 5
years.
The Westport power house, our principal generating station, was
erected during this period, and the small generating stations were
converted
Into sub-stations.
The distribution system was
entirely re-built, a large
portion being placed in the city subway ducts. Chief Engineer
Phelps of
the Electrical Commission of Baltimore, In an elaborate
report to the City
Council relative to electric service and rates, said:
“The supply of electricity
Is conducted in a manner fully up to the best standard of
modern practice.
There is not much, If anything, to be gained In this direction.
The average
rates throughout the entire schedule are lower
generally than the average
of rates in other cities considered.”
To assist In the development of the
city and Its adjacent settlements,
there has been laid during this period 86 miles of
gas mains and every
opportunity has been given for the economical use of gas for domestic
and
Industrial purposes. The last annual report of Robert J.
McCuen, Esq.,
Supt. of City Lighting, made the following reference to our gas and electric
service: “Both the gas and electric branches of this
company have been
most progressive during the year and Its service Is
being maintained to the
entire satisfaction of the department.
I have observed with much pleasure
the company’s desire to treat with the city
In all matters pertaining to the
work of this department, and, In fact, with the
public In general, In a fair
and Impartial manner.”
The results have amply justified the extensions and
Improvements.
Comparative Statement Indicating the Development of the Business—Years
Ending June 30 1906 and 1910.,
1909-10.
1905-06.
Increase.
%
Gross Income from sale of gas
and
electricity-;
$4,679,501
$3,570,516
$1,108,985 31
Electric consumers
14,995
8,918
68
6,077
Electric sales In k. w. hours.
37,790,200
20,624,808 17,165,331
83
Gas sales In cubic feet.
2 ,934,872,100 2,453,406,900
481,465,200 20
Gas consumers
96,416
77,743
24
18,673
Gas ranges in use
59,628
30,023
99
29,605
Water heaters In use
13,220
4,477
198
8,757
Dividends.—There were declared and paid during the
year two semi¬
annual dividends of 3% each on the prior lien and
pref. stocks, and the first
semi-annual dlv., 2%, was declared and paid on com. stock (V.
90, p. 1046).
Bonds and Notes.—The retirement of
$3,584,500 6% bonds of the Con¬
solidated Gas Co. of Baltimore City, due July 1, was effected
by the Issue
of 3-year 5% gold notes (V. 91, p. 41).
Gas 4M% bonds
$548,000 were exchanged for the Gas 4 Ha Issued subsequent to aggregating
the consoli¬
dation of June 20 1906.
This exchange placed the holders of these bonds
In exactly the same position as the holders of all other
bonds Issued under
the 1904 Gas mortgage (V. 90, p. 1173).
The $119,000 Brush Electric Co.
1st M. 5% bonds (an underlying Issue),
maturing Jan. 1
deemed and replaced by $119,000 United Electric Light & 1910, were re¬
Power Co. 1st
consol. 4 Ha reserved for that purpose (V. 89,
p. 1670).
Fire Insurance.—The final reduction of 10 He.
per $100 was secured on
March 1 last In the rates applying to both gas and electric
properties. The
total reduction in rates amounts to 79%, an annual
saving of $15,324,
after allowing for $1,431,740 additional Insurance
wt
INCOME ACCOUNT YEARS ENDING JUNE 301
1909-10.
1908-09.
1909-10,
1908-09.
$
$
Dividends— |
$
$
Income from gas and
Pr. lien stk. (6%).
42,000
42,000
electricity
4,679,501 4,426,910
Pref. stock (6%).. 381,603
381,603
Other Income
19,597
22,366
Common stock (6
mos.), 2%
126,001
Total gross Income 4,699,098 4,449,276 Reserve for
renewals,
Oper. exp. A taxes..2,265,534 2,279,578
amortization, con¬
tingencies A other
Net earnings
2,433,564 2,169,698
corporate purposes 257,597
Interest on funded
[Voi>.
to diminish manufacturing operations
at Montreal; and In time It may be
found desirable to discontinue them and
concentrate the manufacturing In
the Brooklyn shop.
Notwithstanding the great and universal Increase In the cost of labor and
material, the company Is still selling Its machines of the same
class. In more
highly developed forms, at the prices which prevailed fifteen years
ago.
The company Is still without debt of
any kind other than current accounts.
1909-10.
1908-09.
1907-08.
1906-07.
Total net profits
$2,763,869
$2,642,468
$2,426,716
$3,171,571
Dividends (15%)......
1,917,630
1,743,007
1,649,400
1,649,400
Balance, surplus
$846,239
$899,461
$777,316
BALANCE SHEET OCTOBER 1.
1910.
Assets—
Cash
Stock and bond account
Bills receivable
Accounts receivable
Mergenthaler Co., Ltd..
Canadlan Linotype, Ltd.
3,096,617
3,322,450
1,191,680
717,860
1,930,952
2,550,704
757,625
Total deductions.
Net surplus
807,201
423,603
252,001
362,931
786,534
BALANCE SHEET JUNE 30 1910.
Assets (aggregating $41,913,741)—
Liabilities (aggregating $41,913,741)—
Property, plant, franoh., Ac.$38,178,950 Common stock
$6,300,034
Bonds In treasury (available)
889,000 Preferred stock
6,360,054
Investments
1,343,688 Prior lien stock
700,000
Cash on hand, in bank and
Funded debt
*25,196,000
with fiscal agents.
659,567 Bills payable
680,000
Accounts and bills receivable
360,662 Unpaid wages (not due)
8,853
Material and suppUes
481,874 Accounts payable
175,734
Accrued int. on bonds, Ac..
513,032
Sundry accruals, reserves, Ac.
146,153
Surp. for divs., Ac.. 1,059,202
Surplus
1,833,881
•Funded debt includes: Gen. M. 6% gas bonds, due
July 1 1910, $3,584 500consol. M. 5% gas bonds, due July 1 1939,
$3,400,000: gen. M. 4H% gas bonds’
due April 1 1954, $2,751,000; gen. M. 4H% G A E.
bonds, due Feb. 14 1935.
$10,720,000; United E. L. A P. Co. 4H% bonds, due May 1
1929, $4,368,000'
certificates of indebtedness (10 years), due 1912-1913,
$312,000; other underlying
bonds. $60.500.—V. 91, p. 1028, 947.
.
Mergenthaler Linotype Go.
(JReport for Fiscal Year ending Sept. 30 1910.)
The pamphlet report is not at
hand, but the company
pronounces the following, taken from the daily
newspapers,
as
correct:
President
961,869
240,412
3,179,819
860,990
331,360
1,152,723
187,712
3,036,599
679,053
1,919,389
13,327
2,42 7,585
759,225
55,621
1,894,475
41,918
2,042,898
915,450
48,193
51,814
7,323,218
7,665,377
18,192
7,629,889
23,251
19,717,493
21,260,188
18,433,167
17,652,161
12,787,700
115,948
12,753,700
10,996,000
10,996,000
46,608
42,964
716
58,899
150,000
671
6,813,129
626
581
8,296,917
7,389,933
6,612,616
19,717,493
21,260,188
18,433,167
17,652,161
patents and invent’ns
Miscellaneous
Total assets
Liabilities—
Capital stock
Creditors’ open acc’ts..
Bills payable
Dividends unpaid
Surplus
Pacific Coast
Company.
{Report for Fiscal Year ending June 30 1910.)
Extracts from the report of H. W.
Cannon, President and
Chairman of the Board, and J. C.
Ford, Vice-President and
General Manager, will be found on another
page.
Statistics.—The earnings and expenses, income account
and balance sheet have been
as
follows:
EARNINGS AND EXPENSES FOR YEAR 1909-10.
Gross
Expenses
Net
Department—
Earnings,
and Taxes.
Earnings,
Pacific Coast Steamship Co
$4,174,391
$3,751,396
$422,905
Rail
Lines—
Pacific Coast Railway Co
Columbia A Puget Sound RR. Co.
Coal department
Lumber, grain, rentals and miscell...
Taxes and general..
239,503
623,754
2,546,104
319,396
174,703
398,797
1,898,982
92,441
74,350
64,800
224,957
647,122
226,955
def.74,350
$7,903,148
$6,390,669
$1,512,479
Gross earnings
INCOME ACCOUNT- -ALL COMPANIES.
1909-10.
1908-09.
1907-08.
1906-07.
$7,903,148
6,390,669
$6,580,507
5,621,018
$7,272,958
6,220,625
$7,406,495
5,986,616
$1,512,479
21,808
$959,489
13,154
$1,052,332
18,812
$1,419,879
69.794
Total net Income
$1,534,287
Deduct—
Interest on bonds.
$250,000
General Interest
Improvem’ts written off
1,176
Loss on steamships
67,000
$972,643
$1,071,144
$1,489,6 73
$250,000
$250,000
14,448
5,634
$250,000
8,479
10,813
64,356
8.091
Operating
i
and taxes
exp.
Net earnings
Other Income
Special
reserve
fund....
125,000
“Exhaustion fund”
25,402
Miscellaneous
21,626
Dlv. on first pref. (5%).
76,250
Dlv. on second pref—(7 34)310,000
Dlv. on common
(7 34)542,500
Total
23,217
16,419
76,250
(4)160,000(5 34)210,000
(4)280.000(5)4)367.500
$1,418,954
$115,333
Balance, surplus
CONDENSED
23,650
16,978
76,250
BALANCE
$826,960
$145,683
SHEET
Assets—
Property (Including stocks and bonds
of proprietary companies)..
Cash (including deposit with trustee).
Agents and conductors, Ac
Companies and Individuals
Land
notes and contracts
Coal and lumber inventories
Prepaid accounts
Claims against underwriters.
Miscellaneous accounts
Materials and supplies
JUNE
$1,027,035
$44,109
30—ALL
24,491
76,250
(6)240,000
(6)420,000
$1,018,832
$470,841
COMPANIES.
1910.
5
1909.
$
3
19,624,168
1,269,324
77,660
687,185
298,141
421,915
a233,155
19,409,967
848,673
19,180,938
335,157
66,826
782,204
211,441
1,412,438
234,559
143,164
62,663
201,008
Total assets
23,018.383
LiabilitiesStock (see “Ry. A Indus.” Section). 12,525,000
First mortgage bonds
5,000,000
Vouchers ana accounts
479,707
Wages and salaries—
174,152
Dividend Aug. 1
294,063
Interest on bonds
20,833
Taxes accrued
37,518
“Exhaustion fund” for coal lands
159,110
Special reserve fund
125,000
Other reserves
:
0416,463
Collections for traffic not yet earned.
98,922
Globe Navigation Co
312,500
—
80,279
678,564
163,851
716,526
215,895
118,530
38,817
253.692
1908.
169,675
33,824
290,131
22,524,794
22,717,194
12.525,000
5,000,000
413,031
154,443
129,062
12.525,000
5,000,060
904,778
152,353
129,062
20,833
5,208
128,190
20.833
43.940
147,090
—
Employees hospital fund
Traffic balances and miscellaneous.
Profit and loss
Total liabilities
.
251,113
138,496
437,500
29,727
31,357
20,710
3,323,048
26,843
3,207,715
203,310
101,421
437,500
29,038
18,467
3,062,032
23,018,383
22,524,794
22,717,194
“Prepaid accounts” include in 1910 Insurance paid in advance, $209,861; taxes, $9,303, and rentals, $13,990.
b “Other reserves” Include in 1910 reserve for
pilotage, $63,820, and
reserve for Improvements,
replacements and inventories. $352,643.—
V.
a
91, p. 1028.
Philip T. Dodge
says
in part:
The demand for the linotype In Its various forms
continues in both the
large and smaU newspaper offices, and Is steadily
Increasing In book offices
and offices devoted to miscellaneous and job
printing.
During the year 586
offices Introduced their first machines.
The business of the German
company was In all respects satisfactory and
Its gain somewhat In excess of that of the
previous year.
The busings of
the British company. Linotype A
Machinery, Ltd., and Its net gain ex¬
ceeded those of the previous year,
but, owing to the generally bad business
conditions and other causes, normal conditions have
not been restored
..M The year’s business In Canada
compared favorably with that of former
years.
Owing, however, to the decreasing demand for
machines of do¬
mestic manufacture on the part of Dominion
printers, It was found
1907.
$
i
5,000,000
Office fixtures, Ac
Rights, prlvs., franch.,
..
1,374,362 1,383,164
1908.
$ <
$1,522,171
2,451,338
751,000
51,622
Linotypes
Total liabilities
$
423,451
590,392
2,126,247
Raw materials, Ac
Factory under constr’n.
Plant, Ac
—V. 90, p. 702.
1909.
$
836,391
3,092,800
3,379,387
1,332,133
.
debt. &C
I*XXXXI
necessary
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
(Kan.) Railway, Light & Power Co.—New
Mortgage—Retirement of Preferred Stock.—The shareholders
Atchison
voted
on
the
October 4 not only, as stated last
week, to in¬
capital stock ^recently $500,000 common and
$400,000 preferred) to $1,500,000, all of one class, in $100
crease
O0T. 22
make a mortgage for $1,500,000, of which
$750,000 will be issued to retire the $400,000 pref. stock
(paying 7% yearly), retire bonds and for improvements.
There are outstanding $150,000 1st M. 6s due July 1 1915.
The stock
owned by W. B. McKinley, Champaign. Ill., T. B. Macaulay, Montreal,
Que., and S. L. Nelson, Peoria, Ill.—V. 91, p. 1024.
Augusta-Aiken Ry. A Electric Co.—Sale.—A syndicate
headed by Redmond & Co. and J. G. White & Co. of New
York have acquired the property, the deal including the
purchase of stock and bonds amounting to $4,477,918 par
value.
Franklin Q. Brown of Redmond & Co. has been
elected President and will head the new company, which will
probably be known as the Augusta & Columbia Electric Ry.
shares, but to
■
—V. 85, p. 1099.
Aurora Elgin & Chicago
holders on Oct. 18 voted to purchase
Western Ry.
RR.—Acquisition.—The stock¬
the Chicago Wheaton &
Report.—For year ending
Net
Gross
Year,
earnings,
1909-10 $1,536,898
1908-09 1,411,722
—V. 91, p. 517.
Other
June 30:
Int. &
Preferred Com.divs.
dividends. (3%).
Canadian
Bal.,
surp.
$93,000 $52,837
93,000 73,867
RR.—Increase of Stock.—The stockholders
(1) on increasing the capital stock by
$10,663,700, to provide for additions
(2) on holding annual meetings on the
of October at
to the re¬
behalf of
Henry C. Frick of Pittsburgh. The bankers ceased taking
stock Monday night.
Compare Y. 91, p. 1027.
Chicago Milwaukee A St. Paul Ry.—Favorable Decision.—
The United States Supreme Court on Oct. 17 decided in fa¬
vor of the company the suit brought by the Government in¬
volving title to several thousand acres of land in Iowa.—
necessary 16,500 shares were received in response
cent offer of $160 per share, made, it is rumored, on
91, p. 870, 571.
Chicago A North Western Ry.—New President.—Wm.
Gardner, for the past 4 years Vice-President in charge
V.
and improvements
second Wednesday
Boston.—V. 91, p. 1024, 945.
Northern Ry.—New Equipment
Trust.—This
A.
of
operation and maintenance, and who is also President of the
Chicago St. Paul Minneapolis & Omaha, has been elected
President, to succeed Marvin Hughitt, who had been Presi¬
dent of the road for 23 years and in its service 38 years.
Mr. Hughitt becomes Chairman of the board.
Other changes
in officers are:
earn'gs. income, taxes.
$634,121 $71,539 $373,823 (6)$186,000
615,452 55,492 341,327(5M) 162.750
Boston A Maine
will vote Nov. 2
1095
THE CHRONICLE
1910.]
Samuel A. Lynde, General Attorney,
of the legal and financial departments,
becomes Vice-President In charge
to succeed E. E. Osborn, of New
Richard
Gard¬
806, 790, 785.
York, who retires on account of ill-health and becomes Asst. Sec.
H. Ashton; Gen. Mgr., has been made Vice-President to succeed Mr.
ner,
and William D. Cantllion,
Is Gen. Mgr.—V. 91, p.
Chicago River A Indiana RR.—New Mortgage Filed.—
The company has filed its new mortgage to the Merchants’
Loan & Trust Co. of Chicago, as trustee, to secure an issue
of $500,000 refunding 1st M. 5% 20-year gold bonds due Oct.l
1930, but subject to call at 105 and interest on Oct. 1 1915,
or any interest date thereafter.
Compare V. 91, p. 38.
Of the new bonds, a portion Is reserved to refund the $250,000 outstandbonds due Jan. 1 1929;
ng
remainder for Improvements.
filed for record at Ottawa on Oct. 13 a trust agree¬
Chicago Rock Island A Pacific Ry.—Merger of Subsidiary.
ment, dated Aug. 1 1910, between itself as party of the first —The
shareholders will vote Dec. 15 on merging into the
part, and the Guaranty Trust Co. of New York, as trustee
its subsidiary, the Chicago Rock Island & El Paso
company
and vendor, party of the second part, to secure an issue of
Ry.
Co.,
owning
the 112 miles of road between Bravo, Tex.,
$294,000 5% equipment notes, Series *1, maturing in ten
semi-annual installments beginning Feb. 1 1911 and ending and Santa Rosa, N. M.—V. 91, p. 711.
Cincinnati Hamilton A Dayton Ry.—Reports.—See “An¬
Aug. 1 1915, the first nine installments being $29,000 each,
nual
Reports.”
the last $33,000.
Interest F. & A.
New Director.—Daniel Willard, President of the Baltimore
These notes represent part of the purchase price ($367,600) of ten 10wheel passenger locomotives and twelve 6-wheel switching locomotives,
& Ohio, has been elected to succeed F. A. Durban.—
ordered from the Montreal Locomotive Works. The remaining $73,600
V.
91, p. 588.
has already been paid In cash.—V. 91, p. 716, 336.
Cincinnati
New Orleans A Texas Pacific Ry.—Report.
Canadian Pacific Ry.—Meeting.—See “Annual Reports.”
company
Legislation.—Application will be made to the
Canadian
Parliament for authority to construct certain branch lines,
to extend the time for building others, and to increase the
company’s bonding powers in respect of its Toronto-Sudbury
branch.—V. 91, p. 945, 746.
Chesapeake A Ohio Ry.—Bonds Offered.—Potter, Choate
& Prentice, New York, offered this week, at a price to yield
June 30
Year—
Gross
Net (after
Revenues.
$
Taxes).
$
Other Rentals A Pf.Div. Com.Div. Balance,
Income. Interest.
(5%). (5%). Surplus.
$
$
$
$
$
1909-10
9,079,471 3,312.269 291,986
1908-09
7.826.982 2,507,299 144,605
From the balance as above In 1909-10
manent improvements, additions and
1908-09, leaving
1,406,732 122,670 150,000 1.924,854
1.456,905 118,889 150,000 926,110
deducted $1,475,959 for “per¬
was
betterments." against $678,475 In
$448,895 in 1909-10, against $247,635.—V. 89, p. 1347.
A Light Co.—Strike Ends—Com¬
Wins.—The
strike
which
began July 24, and for two
5% income, Raleigh & Southwestern Ry. 1st M. 4% gold months was
by
acts
of violence that practically
accompanied
bonds, dated 1906 and due July 1 1936; int. J. & J. Central
paralyzed the business of the city, was declared off by the
Trust Co. trustee.
Auth., $1,500,000; issued, $750,000.
strikers’ association on Oct. 15, the company having won out.
These bonds were assumed by the Ches. & Ohio Ry. on the merger of the
The main point at Issue was the reinstatement of 40 dishonest employees.
companies In Feb. 1910, and bear Its endorsement as a guaranty for the
payment of principal and Interest (See V. 91, p. 802). Annual sinking fund, The services of the State militia employed to keep the peace are said to
beginning Nov. 1 1911, a sum equal to 1% of the principal of all bonds then have cost the State $200,000.—V. 91, p. 870.
outstanding for the purchase and cancellation of these bonds at not ex¬
Grand Trunk Ry.—Purchase.—Notice is given that appli¬
ceeding par and Int.
A 1st M. on about 20 miles of completed line ex¬
tending from the Ches. & Ohio at Raleigh, W. Va., through what Is said to
cation will be made to the Canadian Parliament at its next
be one of the richest coal districts on the C. & O.; It is also well timbered.
session for power to purchase the Montreal & Southern Coun¬
The C. & O. for the year ended June 30 last showed net earnings over twice
ties RR., the new electric road which runs from Montreal
ta Interest charges, and equivalent to 10% on the outstanding capital stock.
—V. 91. p. 945.
across the Victoria Bridge to St. Lambert and thence to
Chicago A Alton RR.—Equipment Issue Sold.—Brown Longueuil, with charter rights for extensions to Ste. HyaBros. & Co* offered privately, and have sold, an issue of $722,- cinthe, Valleyfield and Beauharnois.—V. 91, p. 1025, 518,.
000 ten-year 5% Chicago & Alton RR. equipment notes dated
Grand Trunk Western Ry.—Dividend on Income Bonds.—
Oct. 1 and maturing 10% annually beginning Oct. 1 1911. A dividend at the full yearly rate of 4%, the same as in 1906
The issue covers 40 locomotives.
The same bankers have to 1909 inclusive, has been declared on the $1,500,000 2d M.
also purchased and sold an issue of $180,000 of the Minn. & income bonds
(which have been called for payment on Dec, 1
St. Louis, covering 12 locomotives, and of $154,000 of the
next), represented by Coupon No. 10 of July 1910. Pay¬
Iowa Central covering 10 locomotives, with same details as ment will be made immediately at the Bank of Montreal,
the Chicago & Alton except as to amounts.
The trustee for New York.—V. 90, p. 1239.
each issue is the Pennsylvania Co. for Insurances on Lives &
Gulf A Ship Island RR.—Report.—For year ending June30:
Granting Annuities, Philadelphia.
Gross
Net (after
Other Interest, &c., Balance,
Fiscal
The notes were purchased from the three companies by
earnings.
taxes.
surplus.
Year.
income, charges.
Tailer & Co. some months ago and subsequently sold in 1909-10.
.$2,094,076 $648,190 $14,170 $371,021 $291,339
1908-09
1,873,196
404,761
7,702
407,805
4,658
block to Brown Bros. & Co.—V. 91, p. 1024, 396.
Dividends of 4% paid from profit and loss during 1909-10 and 1908-09 call
Chicago Consolidated Traction Co.—Suit.—Attorneys for for $262,500 and $242,500, respectively.—V. 91, p. 655.
Helena (Mont.) Light A Ry.—Dividend on Common
Mrs. Yerkes on Oct. 20 filed a suit in the Circuit Court at
Chicago to enjoin the executor of the Charles T. Yerkes Omitted.—The company has omitted to declare the usual
estate from exchanging the $4,594,000 Consolidated Traction quarterly dividend on the $561,000 common stock which
bonds for new securities to be issued by the Chicago Railways would have been payable Nov. 1, although the customary
Co.
Compare V. 91, p. 336.
134% quarterly distribution will be made on that date.
Dividend Record of Common Stock.
A receiver Is asked for the bonds and a decree directing the Chicago
Railways Co. to pay the amount claimed to be due for principal and Inter¬
1906.
1907.
1909.
1908.
1910.
est, something over $6,000,000.-—V. 91, p. 1025, 945.
3%
None.
3 (Feb., May, Aug.)
1%
3 (May, Aug., Nov.)
—V. 88, p. 1061.
.
„
Chicago Indianapolis A Louisville Ry.—Bonds Offered.—
Hudson A Manhattan RR. (Hudson River Tube System).
Potter, Choate & Prentice, 55 Wall St., offered on Oct. 19 at
95 and int., yielding over 4^£%, the unsold portion (less than —New Director.—Lewis L. Clarke, President of the American
$1,000,000) of $3,000,000 refunding mortgage 4% gold Exchange Bank, has been elected a director. The board
includes:
bonds, Series “C,” dated April 1 1910 and due July 1 1947. now
A. N. Brady, E. H. Gary, F. B. Jennings, W. G. McAdoo, John G. Mc¬
J.
J.
An
(see
another
says:
Interest
&
advertisement
page)
Cullough, Wilbur C. Fisk, Pliny Fisk and Lewis L. Clarke, all of New York
Authorized. $15,000,000; Issued,
$12,700,000, viz.: $4,700,000 6% City; R. W. Melrs, Philadelphia; Frank O. Briggs, Trenton, N. J.; W. H
Corbin, Jersey City.—V. 91, p. 1025, 790.
bonds, $5,000,000 5% and $3,000,000 4%. A first mortgage on 346.85
miles of road, 288.86 miles of which Is the main line extending from New
Inter-State Railways, Philadelphia.—Opposition to Plan.—
Albany near Louisville, Ky.. to Michigan City, Ind., and a lien on 161.94
The American Railways Co., the second largest bondholder
miles, subject to $2,300,000 Loulsv. New Al. & Ch. Ry., Ch. & Ind. Dlv., 1st
M. 6s, due Aug. 1 1911, to retire which the remainder of the refunding Issue
(its holdings aggregating, it is said, $1,500,000), on Oct. 17
Is reserved, and within 10 mos. will be a first lien and only mortgage on the
made known its disapproval of the proposition to fund by
entire main line of the company aggregating 5Q8.79 miles of road at the rat
of less than $30,000 per mile.
Compare V. 91, p. 866.
means of an issue of preferred stock all coupons due on the
A special circular has been prepared fully describing these 4s in 1910 and 1911.—Vr 91, p. 589.
bonds and containing a copy of the letter from President
Iowa Central Ry .—Equipment Issue Sold .—Bee Chicago A
Harrison of the company, and a map of the road, which may Alton above.—V.
91, p. -790, 518»
■ ■;' v4
be obtained upon request.—V* 91, p.866.
Kanawha A Michigan TSLy .—Settlement with Stanton Com¬
.Chicago Junction Rys. A Union Stock Yards Co.—More mittee.—The committee of minority •shareholders^ John S.
Than $1,650,000 Stock Aseents.-—Considerably more than the,
Columbus (O.) Railway
pany
*
.
1096
CHRONICLE
i
THE
Stanton, Chairman and Samuel Untermyer, Counsel, has
disposed of its holdings, said to include about 3,000 shares,
and its interest in the several suits
brought by it, to parties
that are believed to be
friendly
to the
Ohio Ry. for a sum believed to be in excess ofChesapeake &
$160 a share.
The “New York Times”
on
Oct. 20 said:
The price at which the committee sold
Its stock was said on authority
yesterday to be higher than $160 a share. The minority
stockholders,
who accepted the offer made by the
Chesapeake & Ohio and the Lake Shore,
netted 70 H for their stock.
President.—F. B. Sheldon, Chief Eng. and assistant to
President of Hocking Valley Ry., has been elected
President,
to succeed the late Nicholas Monsarrat.—V.
91, p. 276, 94.
Lehigh Valley Transit Co.—Offer for Bonds.—The follow¬
ing offer is made to the holders of the $300,000 outstanding
bonds of the Quakertown Traction
Co., namely:
For each
$1,000 Quakertown Traction bond $750 in cash or $750 in
1st M. 5% bonds of the
Lehigh Transit Co., or $900 in re¬
funding and improvement 5% bonds of the Transit Company,
accrued interest
to be
adjusted in cash.
Brown Bros. A Co. Is the depository for
assenting bonds. The road Is
now operated under a
temporary arrangement without guaranty of prin¬
cipal or Interest. The foregoing offer Is made by the Transit
Company be¬
fore proceeding to build the parallel lines for which
franchises have been
obtained by It In the boroughs of
Quakertown, Perkasle and Intervening
townships.
Deposits of bonds with March 1 1911 coupons attached should
be made not later than Dec. 1 1910.
George B. Atlee & Co. Philadelphia, request holders of
Quakertown
Traction Co. 1st M. 5s to communicate with them.—V.
91, p. 1025, 154.
Los Angeles Ry.—Stock and Bonds to be
Increased.—We
that the stockholders have voted to increase the
author zed issues of stock and bonds from
$5,000,000, the total
earn
amount of each now
company has not
issues.—;V. 91,
p.
outstanding, to $20,000,000, but the
completed its plans respecting the new
717.
Maine Central RR.—Mr.
Mellen
President—Acquisition
Approved.—Charles S. Mellen, President
of the New York
New Haven & Hartford and Boston &
Maine, has been
elected President also of the Maine Central and of
its con¬
trolled roads, the Washington
railroads, Lucius Tuttle being
County and the Somerset
chosen Chairman of the
board of directors of the three
companies, a new office.
The stockholders of the Maine Central
approved the purchase
of the Sebasticook & Moosehead RR.—V.
91,
p.
Michigan United Railways.—
We have received the following:
May.
May.
1910.
Gross Income.---_$116,318
Netrevenue
52,225
Taxes and Interest
constituent cos_
17,292
M.U.Ry. bond lnt_ 18,312
Net surplus
—V. 91, p. 1026.
$16,621
1909.
788, 717.
Comparative Statement.—
15,792
$11,266
$29,246
$25,192
$45,063
$33,593
increasing the capital stock
$3,500,000 to $4,000,000, by increasing the issue of 7%
cum. pref. stock from
$500,000 to $1,000,000. The pro¬
ceeds will be used for
extensions, new equipment, double¬
tracking, &c.—V. 90, p. 54.
Quakertown Traction Co.—Offer to Bondholders.—See
Lehigh Valley Transit Co. above.—V. 73, p. 1011, 616.
Quebec Central Ry.—Report.—For year ending June 30:
from
Net Oper.
Revenue.
Other
Income.
$346,311
296,764
*
Net
Income.
$5,675 $351,986
9,176
305,940
The surplus as above In 1909-10 added to
the balance of $46,232
brought
forward makes a total of $398,218, from
which payments were made as
follows:
Interest on 4% debenture stock,
$116,525; Interest on 3% deben¬
ture stock. $49,348; full Interest on 7%
Income bonds, $115,145; transferred
to "reserve contingent fund”
(making the amount to the credit of this
account $80,000), $15,000; balance carried
the directors recommend the payment of a forward, $ 102,200, from which
2% dividend on share capital
calling for $55,607, leaving balance to carry forward,
$46,593.
The extension to St. Justine has been
operated since July 1. During
the year £75,000 4% debenture stock was
issued for the capital purposes
of the company, raising the amount
outstanding on June 30 1916 to £604,837.—V. 90, p.1171.
Rapid Transit in New York City.—No Bids Received
for
Tri-Borough Subway by Private Capital.—No
Construction of
(Thursday) for
the
con¬
capital and the operation
subway. Bids for construction
only with municipal money will be opened Oct. 27. Com¬
pare V. 91, p. 590.
A letter was received from the
Bradley-Gaffney-Steers Co. stating that
It did not submit a bid because It was
not considered feasible to
present a
proposition for construction along the lines
suggested.—V. 91, p. 590.
Rock Island Co.—New
Director.—Benjamin Strong Jr.,
Vice-President of the Bankers’ Trust
Co., New York, has
been elected a director
V. 91, p. 717, 276.
to succeed John F.
Thompson.—
R08C06 Snyder & Pacific Ry .—Cancellation
of BondsStock Increased.-*-The Texas
Railroad Commissioners on
Oct. 11 authorized the
company to cancel
bonds and substitute $100,000 stock in lieu $100,000 2d M.
thereof,
making
$150,000 stock outstanding and $416,000 bonds authorized.
p.
590.
City.—Application for Re-
committee
on
Thursday applied
Commission for a rehearing of the
ap¬
plication for the approval of the amended plan of
reorganiza¬
tion submitted last December
(V. 90, p. 168).
It was supposed at the time that the
formal order was requested
recently
proposed plan that this was preliminary to an
appeal to
the courts to review the action
of the Commission; but apparently the
committee has decided to make another
effort to obtain favorable action
from the Commission before
resorting to the courts.
It the re-hearlng Is
refused or the application again denied
by the Commission, any additional
proof presented will be likely to strengthen the position of the committee
before the courts.
disapproving the
Earnings.—In connection with the application for
hearing, the following was given out:
a
re¬
Revised Figures for Year ended June 30
1910, Third Avenue System.
Oper. dfc non-oper. Income $8,675,4691 Rent deductions
$240,167
Operating expenses
5,356,5081 Taxes
i
548,916
...
82, p. 512.
bids were received at the time set
struction and equipment by private
of the proposed
tri-borough
Third Avenue RR., New York
11,291
Porto Rico Railways.—New Stock.—The
shareholders will
vote in Montreal on Nov. 23 on
Working
Expenses.
$759,556
724,918
V. 91,
Southern Ry.—Payment
of Bonds.—The $500,000 Rich¬
mond York River &
Chesapeake 4^% bonds will be paid at
maturity on Nov. 1 next at the office of J. P. Morgan & Co.
—V. 91, p. 1020, 1034.
15,792
The bonds are all to be deposited under the New
Orleans Texas & Mexico
Division mortgage of the St. Louis & San Francisco
RR.—V.
Gross
Southern Electric Securities Co.—Sale
of Collateral.—The
collateral under the 1st M. collateral trust
5%
gold bonds was
sold at auction on Oct. 19 in this
city through Adrian H.
Muller & Son, as follows: Parcel No. 1 for
$25,000; parcel
No. 2 for $5,000.
Compare
17,292
18,312
standing $461,000 bonds being canceled.
Receipts.
$1,105,867
1,021,682
to
15,792
11,291
Texas Railroad Commission on Oct. 13
granted the applica¬
tion to issue $1,067,000 bonds on the 30 miles
from Orange
to Newton, Tex., on a valuation of that
amount, the out¬
*
The company owns and
operates under perpetual charter and franchises
of street railway trackage In
Scranton, with lines extending
Carbondale and Plttston, &c.,
serving a population of over 200,000.
These bonds are secured by
a gen. mtge. on the entire
property, subject to
the existing mortgage bonds.
This issue Is followed by
$1,500,000 5%
pref. stock and $2,000,000 common
stock,
upon
which
dlvs. were paid for
the fiscal year ending June 30 1910
of 6%.
Earnings for Year ending June 30 1910, as Officially
Reported.
Gross earnings
$1,218,5821
Deduct—
Net earnings.
441,527)
Int.
on
underlying
bonds
$225,230
Interest on bonds owned.
25,500|Int. on gen. mtge. 5s
50,000
Total net income
$467,027
Balance, surplus
$191,797
—V. 90, p. 1045.
some 87 miles
to the Public Service
Minneapolis & St. Louis RR.—Equipment Issue Sold.—
Chicago & Alton RR. above.—V. 91, p. 946, 790.
Orange & North Western RR.—Bonds Authorized.—The
Fiscal Year—
1909-10
1908-09
Taft, Worcester. The property
placed in receiver’s hands on Sept.
51905.—V.81,p.841.
Scranton (Pa.) Ry.—Sale
of Bonds.—Bioren & Co., Phila¬
delphia, in connection with their associates, Newburger,
Henderson & Loeb, of
Philadelphia, have purchased from
the company, and it is understood are
privately
97^ ana int. (yielding a return of over 5.30%), offering at
for delivery
on or about Nov. 10
1910, a block of the new issue of gen.
mtge. 5% gold bonds, par $1,000, dated Nov. 1 1910 and
due Nov. 1 1920, but
subject to call at any interest period at
102 and accrued int.
Int. M. & N. at Equitable Trust Co.
of Phila., trustee.
Auth. and outstanding, $1,000,000.
A
circular shows:
was
1909.
See
Vanderbilt Jr.,
St. Albans (Vt.) Street
Ry.—Reorganization Committee.—
The bondholders have selected
the following committee:
Francis H. Dewey,
Worcester;
H. Mills, Boston; George
F.
C. Whitney and Arthur M.
1910.
17,292
18,312
K.
and W. H. Newman have been elected di¬
rectors to succeed H. McK.
Twombly, deceased, and Olin
Merrill and Robert Treat Paine
2d, who retired.—V. 90, p. 691
Hearing.—The bondholders’
$89,588 $131,45$ $107,516 $155,812 $119,449
38,350
64,850
52,275
80,672
60,676
11,292
Rutland RR.—New Directors.—W.
George F. Baker
July.
June.
1909.
LXXXXI
The only outstanding debt is said
to be a note for $157,512 held by the
Texas & Pacific
Ry., the $416,000 bonds authorized never having been
sold, but being held In the treasury.—V. 90,
p. 1555.
July.
June.
1910.
[Voi>.
...
'
Income applicable to charges
Interest deducted, not Including Interest
on receivers’
ctfs
$2,529,878
618, 798
Net corporate Income
$1,911,080
The system for the two months ended
Aug. 31 1910 shows total revenue
$1,714,582, being an Increase of $174,780 over 1909.—V.
91, p. 718, 465.
Underground Electric Railways of London.—Listed.—
Exchange on or about Sept. 16 listed:
The London Stock
(1) London Electric Ry. Co. £3,150,000 4% preference
stockand £3,791,106
4 % debenture stock being the entire
amounts authorized to be Issued In lieu
of the securities of the Baker Street &
Waterloo Charing Cross Euston &
Hamsptead and Great Northern Piccadilly & Brompton
Rys. (V. 90.
p. 238, 560; V. 89, p. 1669).
(2) Metropolitan District Ry., further Issue
of £186,433 Metropolitan District guaranteed
4% stock, making the
total listed £1,436,433.—V. 91, p. 718, 517.
Union Street Ry. of New Bedford,
Mass.—Merger Ap¬
proved.—The Massachusetts Railroad Commissioners have
approved the consolidation of the Union Street Ry. and the
Dartmouth & Westport Street Ry. and the issue of
$500,000
additional stock by the Union Street
Ry. per plan V.91,
p. 519, 465.—V. 91, p. 718.
Virginia A Southwestern Ry.—Report.—For year:
June 30
Operating
Net {after
Other
Interest,
Balance
Year.
revenues.
taxes).
income.
rentals, Ac.
surplus.
1909-10
$1,196,194
$294,443
$85,564
$265,395
$114,613
1908-09
1,136,286
313,389
82,914
282,341
113,962
From the balance as above In 1909-10 was deducted
$1,012 for additions
and betterments, against $15,545 In 1908-09,
leaving
a balance of $113,601
In 1909-10, against $98,417 in 1908-09.—V.
89, p. 1340.
Virginian Ry.—Coal Tonnage.—The “Coal Trade
of New York
on
Oct. 19 said:
Journal”
Now that the Virginian Ry. has been In operation for about 18
months
Interesting to note the growth of the coal tonnage. While It is not
possible to state the entire tonnage transported over this
line, owing to
some unreported coal being used at line
points and on the road itself, the
amount transported to Norfolk and dumped over the
pier at Sewalls Point
Is much the larger portion of the coal hauled over this
road and affords a
good index to tonnage movement.
Shipments Over Setcalls Point Pier for Six Months ending Oct. 1 ’10 and
’09.
it Is
SMos. 1909.
6 Mos. 1910.
Increase.
Percent.
125,985 tons
1,144,417 tons
1,018,432 tons
814.74
It might be said that this was all new
tonnage, as none of the other
roads transporting coal from the mines In West
Virginia lost any tonnage.
All have shown large Increases.
While there has been a large decrease In
the tonnage handled at Newport News, It cannot be
said that the Virginian
Is responsible for the falling off at that
point, as the aggregate shipments
over the Chesapeake & Ohio show a
remarakble increase.
A large portion
of the tonnage has been shipped for the Lake
trade, but as soon as Lake
navigation Is closed heavier tonnages will be handled at Newport News.
For the 9 months ending Oct. 11910 the
tonnage dumped over Sewalls
Point Pier amounted to 1,311,210 tons, ana
evidently the 2,000,000-mark
will be In sight when the figures for thefull
year are tabulated.—V. 91, p. 215
Oct. 22
Wabash-Pittsburgh Terminal Ry.—Receivers’ Certificates.
—We have been favored with the following statement of the
receivers’ certificates outstanding and authorized to be issued
by H. W. McMaster and F. H. Skelding, as receivers of the
respective properties named:
Ry.—Receivers’ Certs.
Outstanding.
Maturity.
1908... *775,000
Nov. 1 1910
Wab.-Pitts. Term.
Date.
Nov.
Mch. 11 1909...
433,000 Mch. 11
11
Sept. 11 1909...
771 Mch.
Nov.
1
Oct.
1 1909... 100,000
Nov. 1 1910.. See below ♦Nov. 1
1911
1911
1910
1912
♦Callable after May 1911 at par on
nterest day on 30 days’ notice.
any
West Side Belt RR. Co.
Date.
Dec. 1 1908
Aug. 1 1910
Nov. 1 1910,.
Outstanding.
Maturity.
*515,000
Dec. 1 1910
Dec. 1 1910
100,000
See below ♦Dec. 1 1912
♦Callable after June 1 1911 at par on
Interest day on 30 days’ notice.
any
On Sept 30 1910 *974,211 Wabash-Plttsburgh Terminal receivers’
tificates were authorized to retire at par the *875,000 maturing
and *700,720 West Side Belt certificates to retire at par the
Dec 1 1910; remainder available for Improvements (V. 91, p. 946).
of the certificates rank ahead of the bonds and are equal In lien except
the *433,000 W.P.T. certificates dated March 11 1909 and
dated Sept. 11 1909 have a first Hen on the equipment
—V
cer¬
Nov.1 1910,
*615,000 due
All
that
the *771
purchased thereby.
91, p. 946, 1027.
Washington Alexandria & Mt. Vernon Ry.—Consolidation
under Title of Washington-Virginia Ry., with $3,000,000
Authorized
Stock.—“Richmond Despatch” of Oct. 18 said:
yesterday entered an order permitting
Alexandria 6s Mt. Vernon Ry. Co. and the
Washington Arlington 6s Falls Church Ry. Co. as the Washington-Virginia
Ry Co.
The maximum capital stock of the consolidated corporation Is to
be *3,000,000 and the minimum *50,000, In shares of *100 each.
There
be
no
will
change In the present control and operation.
Report has had It for some time that the consolidation was the result
of control by the Gould Interests, and that eventual connection with the
water-power rights owned by the Goulds at Fredericksburg, and with the
The
Richmond & Chesapeake Bay Ry. at Ashland, was contemplated.
papers filed, however, do not show any such plan, nor have the attorneys
usually associated with the Gould Interests In Virginia taken part In the
proceedings, which are declared to be entirely In the Interests of Washing¬
ton parties owning the two suburban electric lines.
[The merger having been completed, the Washington-Virginia Ry. Co.
on Oct. 19 elected as officers: Pres., C. P. King, Philadelphia; Sec., J. B.
A. G. ClapHoelman, Washington; Treas., W. H. Lawton, Philadelphia.
ham and Frederick Mertens, of Washington; Gardiner Booth and G. C.
Warfield, of Alexandria, Va.; and M. E. Church, of Falls Church, Va., are
The State Corporation Commission
the merger of the Washington
directors.—Editor “Chronicle.”]—V. 91, p.
1027, 947.
Washington-Virginia Ry.—Consolidated
Company.—See
Ry. above.
Western Maryland Ry.—Earnings.—For the 6 months
ending June 30 as reported in the daily papers:
Washington Alexandria & Mt. Vernon
Six
Operating
Mos.— Revenue.
1910 -.*3,644,067
1909
2,858,429
.-
For 2
mos
Met (ajter
Other
Taxes).
Income.
Fixed
Charges.
Prejerred
Div.
Balance,
Sur. or Dej.
*1,510,240 *296,694 *1,138,937 *200,000 sur.*467,995
921,570 256,507
1,236,053
def. 47,687
ending Aug. 31, gross, earnings were
*1,122,614 for the 2 mos.
—V. 91. p. 338, 277..
*1,337,658, against
In 1909; net income, *563,143, against *492,211.
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Textile
&c.—At the annual
1097
THE CHRONICLE
1910.]
Co., Pawtucket, R. I.—New Directors,
meeting on Oct. 18—
board, Lyman B. Goff, Darius L. Goff, George M. Thornton,
and Frederick Bates were re-elected. Joseph B. Me
Intyre of Pawtucket and Joseph J. Bodell of Bodell 6c Co... Providence, were
elected directors to fill vacancies.
At a later meeting of the board, the
regular semi-annual dividend of *4 per share was declared, payable Nov. 1 to
The present
Samuel M. Conant
stockholders of record Sept. 30.
Pittsburgh, Pa.—Report.—
meeting on Oct. 18, the first since 1902, an
elaborate report was presented, and the board was reduced
from 16 to 7 members, viz.:
American Window Glass Co.,
At the annual
M. K. McMullIn, T. H. Given, Hay Walker Jr., T. F. Hart, N. T.
Depaw, W. B. Rhodes and George M. McCandless.
Income Account for Year ending Sept, 2 1910.
Profit from operation, *886.522; other Income credits, *76,024 *062,546
Charges against Income. *329,545; royalty charges, *640,954
970,499
*7,553
Deficit for year
Balance Sheet Sept. 2
1910.
Liabilities ($24,592,930)—
Assets ($24,592,930)—
Cash and accts. receivable *453,155 Current accounts and notes
Mat’ls & supplies, at cost. 1,810,760
payable
$4,914,142
Investment accounts
1,879,677 Contingent royalty acct. _ 2,623,500
55,288
Property and plants
17,364,970 Reserve for repairs, 6ec__
4,000,000
Accounts In suspense
9,650 Preferred stock
Common
stock
13,000,000
Profit and loss—deficit
3,074,718
Total glass produced during the year 1909-10, It Is stated, was 2,673,147
boxes, the largest total, except for 1901, In the history of the company.
—V. 91, p. 1027.
Atlas Portland Cement Co.—Change in Officers.—John
R. Morron of Chicago, now President of the Peter Cooper
Glue Co., will on Nov. 1 become President of the Atlas Port¬
land Cement Co., succeeding J. Rogers Maxwell, who will be
made Chairman of the board.
Mr. Morron was selected for
the presidency by J. P. Morgan & Co., who have lately ac¬
Should the decision of the U. S. Courts now pending award to Mr. Tlllls
the ownership of the stock claimed to have been purchased by him, Mr.
Tlllls will Install additional machinery at the location of the present power¬
If the case goes against him, It Is announced, the new power-house
house.
will be built at a location already secured; but In any event work will be
rushed to a finish.—V. 91, p. 1028, 792.
Colorado Springs Light, Heat & Power Co.—Bonds
Offered.—Bertron, Griscom & Jenks, N. Y., Phila. and Paris,
are offering, by advertisement on another page, at 94}^ and
int., yielding about 5%% income, the unsold portion (less
than $300,000) of the present issue of $1,200,000 first and
refunding 5% gold bonds. The company controls the entire
gas, electric light and power business of Colorado Springs
and Colorado City, besides doing a large business in supplying
steam in those cities; also the entire electric light and power
business in Manitou.
These bonds are a first lien on a
valuable hydro-electric plant, and covering the remainder
of the property, subject only to $1,300,000 1st M. 5s of the
constituent companies.
The net earnings for the year ending
June 30 1910, it is stated, were more than sufficient to pay
on the $1,000,000 common stock in addition to 6%
on the $1,000,000 pref. stock and 5% on all outstanding
bonds.
The company is controlled by the Susquehanna
Railway, Light & Power Co., which in turn is controlled by
the United Gas & Electric Co. of N. J.
See official statement
as to the issue, property, &c., in V. 91, p. 466, 719.
Columbia Gas & Electric Co., Cincinnati.—Acquisition.—
The company, it is announced, has acquired control of almost
the entire output of the natural gas and oil field on the Guyandotte River, near Branchland, Lincoln County, W. Va.
The deal Includes some 15,000 acres of land, embracing the holdings of
the Hamlin Oil & Gas Co., with wells having a flow of from 15,000,000 to
20,000,000 cu. ft. of gas per day; also the purchase of the output of the Con¬
tinental OH & Gas Co., some 15,000,000 ft. dally, at 4 cts. per 1,000 cu. ft.
for 3 years, then 5 cts. for 2 years, thereafter at market price.
Prior to
these acquisitions the Columbia’s holdings are stated to have had an output
capacity of 400,000,000 cu. ft., as against a present consumption In Cin¬
cinnati of <0,000,000 cu. ft.
The company neither confirms nor denies the report that It has arranged
with an English syndicate for the immediate sale of *1,000,000 5% bonds,
due Jan. 1 1927, at a price stated to be about 85, and for the future sale
of an additional *1,000,000 of the issue.—V. 90, p. 845.
Columbia Plate Glass Co., Blairsville, Pa.—First
Dividend.
—The company on Oct. 1 paid an initial quarterly dividend
of l%% on its $1,000,000 capital stock; par of shares, $100.
Incorporated In Pa. on Jan. 21 1901, with *1,000 stock, shortly thereafter
Increased to *500,000.
A mortgage for $500,000 was also made. (V. 77,
p. 1296.)
Present funded debt not known.
Pres., James P. McKinney;
Treas. and Sec., C. W. Dahllnger.
Compare V. 91, p. 719.
Columbus & Hocking Coal & Iron Co.—Plan Effective—
Penalty after Oct. 29—Assessment Called.—The modified plan
(see V. 91, p. 874 and 339) “has received the assent of mucb
more than a majority of all classes of security holders” and
has been declared effective.
After Oct. 29 no deposits will be received at the Bankers Trust Co.;
N. Y., except on payment of a penalty of *5 on each bond and 50 cents a
share on each share of stock.
A first Installment of *5 per share on account
of the total payment of *10 per share required from the holders of pref.
stock and common stock has been called, and is payable at the Bankers
Trust Co., 7 Wall St., on Nov. 4.—V. 91, p. 1028.
*
Com Products Refining Co.—Bonds Called.—One hundred
and fourteen ($114,000) 25-year 5% sinking fund bonds
dated Oct. 1 1906 have been drawn for payment at par and
interest on Nov. 1 1910 at the Title Guarantee & Trust Co.,
trustee.—V. 90, p. 1294.
Crucible Steel Co. of America.—New Directors.—George
W. Crawford has been elected a director to succeed J. Lyons;
—V. 91, p. 1023, 947.
Eastern Steamship Co.,
The directors at a meeting
Boston.—Dividend Increased.—
held Oct. 14 1910, in Portland,
Me., voted to pay a quarterly dividend of 1\i% ($1 25 per
share) on Nov. 1 1910 on the $3,000,000 stock of record
Oct. 20 1910.
Dividends were begun Nov. 1 1909 at the
rate of 4% per annum, now increased to 5% (V. 89, p. 472).
Earnings.—For August and the 8 months to Aug. 31:
August—
1910.
1909.
1 Jan. 1 to Aug.31. 1910.
1909.
Gross income. *396,236
*385,750 Gross lncome.*l,282,404 *1,243,043
Net Income
227,062
223,214 (Net income
369,398
400,208
A Boston paper on Sept. 21 said: “There Is every reason to believe that
for the full calendar year 1909 share profits will not vary materially from
the 9% earned on the *3,000,000 stock In 1909.
Up to Aug. 1 1910 net
profits were *142,335, compared with *176,994 a year ago. a decrease of
$34,658.
This decline was due In a large measure to the charging of expense
of operation for the current year certain repairs (or renewals)’, Including two
new boilers for one of Its largest steamers. Instead of to an extraordinary
repair fund, to be apportioned each year during the life of such renewals.
The company has this summer operated 20 steamers, the same as last year;
however, the ‘Bay State’ and ‘R. B. Fuller’ have been considerably enlarged
by the addition of 149 staterooms, 68 and 81 respectively, while the ‘Fuller’
was lengthened, greatly Increasing her freight capacity.
The company
has this year lost about $25,000 In freight revenue by reason of the poor
sardine season In Maine.—V. 89, p. 1225.
quired a portion of the Maxwell holdings. F. W. Stevens
and George F. Baker Jr. have been elected directors, succeed¬
Federal Mining & Smelting Co.—New Directors.—Frank
ing F. L. Hine and Geo. F. Baker.—V. 91, p. 278.
Sweeny of N. Y. City and Gen. Mgr. W. C. Miller of Wallace,
Borden’s Condensed Milk Co.—Directors
Increased.— Idaho, have been elected to the board, succeeding Edwin
W. M. Gladding, Vice-President, and F. D. Shove, Treas¬ Packard and Henry E. Cooper.
President Brownell has
urer, have been elected directors, increasing the board to been made Chairman of the executive committee in place
of Mr; Packard.
The office of Vice-President remains un8 members.—V. 90, p. 1241.
filled.
The “Wall Street Journal” of Oct. 18, in its report
Brooklyn Union Gas Co.—Officers.—The following changes
are announced:
A. F. Stamford (formerly Asst. Treas.), of the annual meeting, said:
President Brownell explained,In reply to questions, that he thought the
2d Vice-Pres.; and Franklin B. Jourdan, Secretary, to suc¬
company’s annual statement had been more adversely received than actual
ceed W. K. Rossi ter, deceased.—V. 90, p. 1365.
conditions at the property warranted. Summarized, the company Is In a
position to earn and pay pref. dividends, he said, at present metal prices,
Cape Breton Electric Co., Ltd.—First Dividend on Common with the prospects for better earnings, depending largely upon the cours
Stock.—An initial dividend of $1 50 per share on the $1,000,- of the metal market and the results of development work and experiments
In processes of ore extraction.
Latest reports of the new process for metal
000 common stock has been declared along with the usual
The low
extraction from the ore of the Morning Mine are encouraging.
metal
prices
of
last
year
contrary
to expectations, ana there la every
were
semi-annual dividend of $3 per share on the $234,000 pref.
Indication that this year will show better averages.
In this connection It
payable Nov. 1 to holders of record Oct. 21.— V.83,p. 438 was pointed out that there have been no new lead mines of Importance un¬
Citizens’ Light, Heat & Power Co.—Franchise to Richard covered In this country In the last decade, and the Indications are that,lor
the present at least, the world’s lead production has about reached its maxi¬
Tillis.—Under the franchise granted to Richard Tillis, re¬ mum. If the policy of acquiring new properties Is decided upon, the com¬
ferred to last week (page 1028), work has been begun on the pany has Bunker Hill & Sullivan stock, worth at present market prices
about *1,600,000, which could be expended In those purposes.
This stock
erection of poles along various streets.
After this work is yields at Its present dividend rate of *3 60 per annum a yearly return to the
Federal of $100,800.
The Federal ‘annual report was in V. 91, p. 1023.
completed wires will be strung.
'
1098
THE CHRONICLE
General Motors Co., New
York.—Subscriptions for Notes.—
The “Boston News Bureau” of Oct. 18 said:
Private subscriptions have been coming In so
to the $15,000,000
first lien five-year General Motors notes that Itrapidly
seems doubtful whether
there will be any public Issue or any chance for the
general public to sub¬
scribe.
Applications have already been received by J. & w. Seligman &
Co. and Lee, Hlgglnson & Co.,
who are managing the syndicate for them
selves as well as Kuhn, Loeb & Co. and the Central Trust
Co., for more
than a majority of the notes.
We understand that these applications are
based on 96 and Interest for the notes, with a 20% stock bonus.
The
common stock has been dealt In on the New York curb at 40 to 45
these last
two or three weeks, and on this basis the cost of the 6% notes to a
purchaser
Is reduced to 88.
Compare V. 91, p. 1028, 947.
Helena (Mont.) Water Works Co.—City to Vote on
Issuing
Bonds to Bring in Independent Supply.—See Helena in “State
& City Department.”—V. 90, p. 1557,
Ingersoll-Rand Company.—To Increase Limit of Common
Stock Issue to $10,000,000 for Retirement of Pref. Stock, &c.—
At the stockholders’ meeting held Oct. 4 1910, it was voted to
extend to holders of the $4,800,000 pref. stock the
privilege
to exchange their pref. stock for common stock.
A meeting
will therefore be held Nov. 16 to vote on
amending the
charter so that the authorized common stock shall be in¬
creased from $5,000,000 (of which $3,000,000 is now out¬
standing) to $10,000,000.—Compare V. 91,
p.
1028, 719.
International Harvester Co.—Decision.—The
Supreme
Court of Michigan on Sept. 28, in actions to collect outstand¬
ing accounts, reversing the lower Court, held that the allega¬
tion that the company is a trust, is no defense to the collec¬
tion of the claims.
'
It
claimed that the company had no legal standing In
Michigan.
There was no equitable defense against the debt, but the
defendants set
up the claim that the company is a trust as a bar to the collection of the
amounts due.—V. 90, p. 1242.
was
Lehigh Coal & Navigation Co.—Sale of Bonds.—Brown
Co., N. Y. and Phila., recently offered at 101 and
int.,and have now placed with Phila. investors, the entire
auth. issue of $1,750,000 collateral trust
4)^>% gold loan,
dated Nov. 1 1910 and due Nov. 1 1930, but callable as a
whole, but not in part, at 102}^ and int. on any int. day on
60 days’ notice.
Interest M. & N. Trustee, Guarantee
Trust & Safe Deposit Co., Phila.
Par $l,000c*. The
Brothers &
bankers say:
Principal and interest payable without deduction for any tax of the U. S.
of Pennsylvania for national, State or municipal
purposes,
These bonds are a direct obligation of the
company and are secured by a
deposit with the trustee of bonds having a par value of $2,307,500.
The
Interest upon these pledged securities Is substantially
more than sufficient
to pay the Interest upon this issue.
The company has $24,153,150 of capital stock
outstanding, upon which
dividends are now being paid at the rate of 8 % per annum.
It has paid cash
dividends without Interruption during the past 29
years averaging about
5.70%; Its shares command a premium of about 86%.
[An exchange journal adds: “Treasurer Baker says the proceeds from
the sale of the bonds are to be used for various
corporate purposes.
It Is
probable the money will be used In connection with the extension
develop¬
ment work now being prosecuted.
Recently there was some talk of the
company building a new railroad In the coal regions, but this
It Is
understood, has not gone beyond a preliminary stage, so It isproject.
Improbable
the present bonds are Issued In connection with the
projected railroad.
The company has $2,470,750 of consol. 7s falling
due on June 1 1911, but
this Issue, It Is understood, will be retired through an issue
of new stock.
A list of the collateral for the new loan Is not
forthcoming, but the
“Phila. Press” on Oct. 18 said:
“The new bonds are secured by a
deposit
of bonds of the Lehigh 4; Hudson and Lehigh & New
England railroads
and by bonds of a trolley line owned by the
Lehigh Coal & Navigation.”
—Ed. “Chronicle.”]—V. 90, p. 1617, 1242.
or
r
*
McCrum-Howell Go.—Increase of Stock.—The stockholders
will vote Oct. 24 on increasing the stock from
$1,500,000
each of common and pref. stock to $3,500,000 of each
class;
also
on
enlarging the board of directors.
It Is understood that nearly one-half of the amount will be
used to pur¬
chase additional plants and that the remainder will be
underwritten for
working capital.—V. 91,
p.
592, 399.
Vineyard & Nantucket Steamboat
Oo.—Offer for Stock.—The New York New Haven & Hart¬
ford RR. has offered par ($100 a share) for the
$141,700 capi¬
tal stock, if
deposited before Nov. 1 with the steamship com¬
pany in Fall River or at the RR. office, 430 South
Station,
Boston.
New York Electric Lines
Go.—Decision.—Justice Bischoff,
of the Supreme Court, on Oct. 18 denied the
application of
the company for a mandamus to
compel the Empire City
Subway Co^ to allow it to place ducts for its wires in the
subway.
The Court ’held that the company has no franchise
from the
titling It to place Its wires In the subway.
Ogilvie Flour Mills Co.—Report.—For
Fiscal
Year—
1909-10
1908-09
—V. 87.
n.
Trading
Profits.
$541,924
716,054
1667.
Bond
year
Pref. Divs.
Interest.
(7%)
$105,000 $1*0,000
105,000
140,000
city
en¬
ending Aug. 31:
Common
Balance,
Dividends. Surplus.
(8)$200,000
$96,924
(7)175,000
296,054
LXXXXI
The “Cincinnati Enquirer” on Oct. 19 said:
“The new stock will be
offered In the ratio of one share of new for every seven shares of old com¬
mon stock held.
The last sale of common stock on the Cincinnati Stock
Exchange was at $373 a share. The books will close for the purpose of
allotting the new stock from Dec. 9 until Jan. 3. The new stock will be"
dated Feb. 15 1911.
The proceeds are to be used In extending the
company’s business In lard and enlarging Its plants for the output of that
product.—V. 90, p. 1106.
Republic Iron & Steel Co.—New Directors.—John Lambert
Chicago has been elected a director to succeed Leonard
C. Hanna of
Cleveland, who declined re-election, and Oakleigh Thorne, President of the Trust Co. of America, to fill
of
a
vacancy.—V. 91, p. 586.
Standard Oil Co. of New
General Jackson of
Kansas
Jersey.—Suits.—Attorney-
Oct. 8 filed three suits
in
the State courts
against the company and its subsidiaries,
the Prairie Oil & Gas Co. and the Standard Oil
Cos. of
Indiana and Kansas, to collect fines for violation of the
State anti-trust law.
on
Judgments are asked for $166,200 under a law passed In 1909
providing
penalty of $100 a day for the 544 days since April
2 1909, when it went
into effect.
These are said to be the first suits brought against the New
Jersey corporation by any State. Service, It Is claimed, can be obtained
through the three subsidiary companies, which are co-defendants In the
several suits, on the ground that
they are the agents and representatives
of the parent company.—V.
91, p. 1040, 965.
a
United States Realty & Improvement
For the 5 months
ending Sept. 30:
1910.
Gross earns..$1,382,033
Deduct—
Miscel 1 <t
$281,538
Manag’texp..
1909.
I
United States Steel
on
1909.
deben’s..$250,000
$276,750
$455,374
$485,692
Dividends, 3 mos.,
(1 M%)202.035 (1)161,628
$269,858|
193,086
Co.—Earnings.—
1910.
$1,380,8721 Int.
186,9431
| Surplus
—V. 91, p. 657, 158.
Corporation.—Unfilled Orders Sept. 30.
—The company’s monthly
report of orders given out on
Oct. 10 shows unfilled orders on the books
Sept. 30 aggre¬
gating 3,158,106 tons, being a reduction of 379,022 tons
for the month of September,
and (except for the statement of
Sept. 30 1904, which showed 3,027,436 tons) the smallest
tonnage in any of the company’s returns.
Tonnage of Unfilled Orders (00,000 omitted).—Compare V. 91,
1910
-1909
1908—
’07.
p.
*06.
271, 280.
’05.
’04.
'03.
Sept. Aug. JtdyJ’ne. Mch Dec. Sept. J’ne. MchSept. MchSept. Dec. Dec. Dec. Dec.
3,1 3.5 3.9 4.2 5,4 5,9 4,7 4.0 3,5 3.4 3,7 6,4
8.4 7,6 4,6 3,2
Prices.—As reported
by “Iron Age” Oct. 13:
Oct. 12
Oct. 5
Oct. 13
Sept. 14
1910.
1910.'
1910.
1909
Foundry pig No. 2, standard. Phila.$15 75
$16 00
$16
00
$18 50
Bessemer billets, Pittsburgh
24 00
24 00
24 50
26 00
Open-hearth billets. Philadelphia.. 26 00
26 00
27 00
28 00
Wire rods, Pittsburgh
28 50
28 50
28 00
32 00
Sheets, black, No. 28, Pittsburgh.. 2 20
2 20
2 15
2 30
This Indicates the more Important changes. —V.
91, p. 809, 721
Per Gross Ton—
Warwick Iron & Steel Co., Philadelphia.—Dividend In¬
creased.—-The directors on Oct. 14 declared a semi-annual
dividend of 4%, an increase of 1% over the last
declaration,
payable Nov. 15 on stock of record Oct. 31.
Compare
V. 90, p. 379, 123.
Washington (D. 0.) Gas Light Co.—Dividend Increased.—
The directors have
$1 20 per share (par
declared
$20),
on
a
quarterly dividend of
the $2,600,000 capital stock,
payable Nov. 1 to holders of record Oct. 15. The annual
rate, heretofore 10%, is therefore increased to 24%.
The shareholders voted Oct. 14 that thereafter all dividends should
be
paid upon the fair value of the property, valued by appraisers at $13,000,000, and not upon the face value of the stock, $2,600,000.
dating back to
1896, and even at that time regarded as below the actual value, as
emphalzed by an offer In 1898 to pay $8,400,000 for the
property.
Bonds.—The shareholders also
issue of
New Bedford Martha’s
IVOL.
on
Oct. 14 authorized
an
$5,200,000 5% 50-year 1st M. gold bonds.
Of this amount $600,000 will be Issued forthwith to holders of the
exist¬
ing $600,000 1st M. 4s In exchange for the same, and $2,600,000 will be
offered to stockholders at par to provide for the payment at
par of the exist¬
ing 6% certificates of Indebtedness.
The remaining $2,000,000 of the Issue
will be reserved for future betterments and will be offered to the
stockhold¬
ers at par from time to time as occasion shall
require.—V. 91, p. 219.
Wells, Fargo & Co. (Express), N. Y.—Report.—For
ending June 30:
Fiscal
Year—
1909-10
1909-08
—V. 91, p.
"
year
Express
Operating
Net
Other
Total Net
Earnings.
Expenses.
Earnings.
Income.
Income.
$27,303,701 $24,120,227 $3,183,474 $1,641,066 $4,824,541
24,476,432
21,213,953 3,262,479 1,401,900 4,664,379
1040.
West Canadian Collieries, 'Ltd.—Listed in London.—The
London Stock Exchange recently listed £150,000 6% 1st M.
debentures Nos. A1 to 467 of £100 and Nos. 1 to 5,165
of
£20 each.
Western
Year end.
Aug 31
Canada
Flour
Net
Profits.
Mills
Co.—Report.—For
Bond
Interest.
Dividends
(7%).
year
Balance,
Surplus.
$62,831
236,968
$216,846
$63,729
abt.$89,786
Pennsylvania Water & Power Co., McCall Ferry.—Plant 1909-10
1908-09
392,661
65,043
abt. 90.650
in Partial Operation.—On Oct. 14 two of the
—V.
89,
p.
1000.
proposed ten
units of 13,500 h. p. each at the McCall
Ferry hydro-electric
plant were officially placed in operation, all the electric
—The well-known bond house of Morris Brothers, Port¬
power being delivered at 70,000 volts to the Consolidated
land, Ore., is now occupying its handsome new offices on
Gas, Electric Light & Power Co. in Baltimore, 40 miles the second floor of the Railway Exchange Building, which is
distant. Three additional units will be installed as
rapidly situated in the heart of the financial and business districts,
as received from the
manufacturers.
See “Electrical World” corner 4th and Stark streets, in that city.
The firm main¬
tains Eastern offices in the Morris Building, 1421 Chestnut
91, p. 948, 467.
Pierce, Butler & Pierce Mfg. Co., Syracuse, N. Y.—All St., Philadelphia, and at 141 Broadway, New York City.
Sold.—The $1,000,000 7% cum. pref. stock offered
—Hawes, Tewksbury & Co., 35 Congress St., Boston,
by
Spencer Trask & Co. at 101 and accrued div. has all been members of the Boston Stock
Exchange, have issued No. 4
sold, but their advertisement respecting the issue is published of their statistical sheet regarding Fall River and New Bed¬
as a matter of record on another
page of to-day’s “Chrohicle.”
ford mill corporations.' This tabulation,
brought down to
See V. 91, p. 1028.
Oct. 1910, gives in clear form the dividends paid each year
P Procter & Gamble Co.—New, Stock.—The shareholders since 1901, capitalization, and other facts of interest to hold¬
-vote Nov. 22 on
increasing the authorized Issue of ers and prospective investors in mill securities. n
common stock from
$10,500,000 to $12,000,000,:? said ’ in¬
—Colston, Boyce & Co., Baltimore, advertise in this issue
crease, $1,500,000/to be offered pro rata to the holders
of Atlantic Coast Line Co. (of Conn.) stock.
This stdok pays
common stock at $200
per share.
10% dividends.
'S'.-'''.. * :
of N. Y. for Oct. 20.—V.
.
Oot.
and
ruvn¥Ji.nrinr —i—rr——1 — - —
-——
—u
THE GREAT
The Directors
NORTHERN RAILWAY COMPANY.
„
submit the following report
for the year
1910:
the year:
transactions.
There have been Issued during
112 H shares, amounting to
in completing previous
_.n nn
11,250 00
$209,981,500 00
June 30 1910
outstanding June 30 1910 was represented by:
rStock Certificates
$209,950,700
Full-paid subscription receipts to $60,000,000 issue, not
The stock
surrendered for exchange into
date
stock cer¬
00
28,120 00
tificates
2.080 00
Scrip.fuU paid
---$209,981,500 00
Total
There were in the Company’s
shares of Great Northern Stock
shares of Manitoba Stock.
treasury June 30 1910 185
not used in acquiring 148
BONDS ASSUMED.
outstanding June 30 1909 of bonds
payment of which had been assumed by the
Railway Company was, as shown on page
report
The amount outstanding
balance sheet, is
A decrease during
-
.—
June 30 1910, as shown
by
the
111,515,909 09
$14,382,000 00
been caused:
through the operation of the Sinking
Fund, as per a subsequent table, of St.P.M. & M.Ry.
Consolidated Mortgage 4 % BondR of par value of
By the cancellatlo of the following bonds heretofore held
in the Company’s treasury and the payment of which
bonds was assumed by the Company In part payment
for the railways and other properties purchased by it,
By the redemption
$306,000 00
explained in the 1908 report:
St. P. M. & M. Ry. Co. Improv’t Bonds, par value
Duluth Watertown & Pacific Ry. Co. First Mortgage
as
11,910,000 00
1,375,000 00
6% Bonds, par value
Park Rapids & Leech Lake Ry. Co. First Mortgage
5% Bonds, par value
Columbia & Red Mountain Ry. Co. First Mortgage 6%
Bonds, par value
—
These bonds were in each Instance the entire Issue, so that
upon
were
their cancellation the mortgages securing the
released and have been satisfied of record.
Total-
bonds outstanding In the hands
The difference between the amount above shown as
Decrease in Bonds in Company’s treasury.
and Net Increase in Bonds In hands of public
Net-
$9,366,969 70
$9,672,969 70
9,366,969 70
$306,000 00
or
is the amount of
bonds retired through operations of
Sinking Funds, as before
shown.
MATURED AND MATURING
BONDS.
$3,368,000 St. Paul Minneapolis & Manitoba Rail¬
Company’s Second Mortgage Bonds that were Outstand¬
ing June 30 1909, and which matured Oct. 1 1909, all bfit
$11,000 had been presented for exchange into Consolidated
Mortgage Bonds or for payment June 30 L910. Since the
close of the year additional bonds have been paid and the
mortgage securing this bond issue has been released and satis¬
Of the
way
000, $2,885,000 were
Dakota Extension Mortgage 6%
Of the original issue of $5,67(5,-
outstanding at the close of the fiscal
for the
Bonds,
these bonds will be paid off at maturity, and the Consoli¬
$125,897,909 09 dated Mortgage Bonds that will be issued on their redemp¬
the
Great Northern
6 of last year’s
the year of_-
This reduction has
Net increase in amount of
of the public.....
fied of record.
The Manitoba Company’s
Bonds mature Nov. 1 1910.
BONDED DEBT.
The total amount
3,507,000 00
Total retired.
increase in the authorized share capital
of The Great Northern Railway Company during the year,
and same remains at $210,000,000.
Capital authorized and issued to June 30 1909
3209,970.250 00
There has been no
at that
surrendered and
exchanged for Consolidated Mortgage Bond?
or paid at maturity
$3,357,000
Dakota Extension Mortgage 6% Bonds exchanged *
^
for Consolidated Mtge. Bonds and canceled.
150,000
CAPITAL STOCK.
Total outstanding
~~
'
Second Mortgage 6% Bonds
Stockholders:
ended June 30
JlnoiMjettts.
'
-
REPORT—FOR THE FISCAL YEAR ENDED JUNE 30 1910.
TWENTY-FIRST ANNUAL
To the
1099
THE CHRONICLE
221910.]
500.000 00
291,000 00
June 30 1910. Unless previously exchanged
Manitoba Company’s Consolidated Mortgage 4%
year,
tion covered into the Great
Expenditures were made during the year in completing or
carrying on the construction of new lines and for preliminary
expenses, including cost of right of way purchased, for pro¬
jected lines, as follows:
Anningtop to Laurel, Mont. (Completion)
$93,236 65
Columbia River to Mansfield, Wash.
Nashwauk to Gunn (La Prairie), Minn
Oroville to Pateros, Wash
Stanley to Wildrose, N. D
Bainvllle to Plenty wood, Mont
Fargo to Surrey, N. D
Vaughn to Simms, Mont
633,016 31
491,881 01
511,572 42
169,059
280,137
586,445
19,417
8,727
87
03
77
19
29
118,669 65
$2,907,163 19
Total
$14,382.000 00
—
Completion of Sundry Lines.
—
Preliminary expenses, including cost of right of way acquired
for Sundry Lines, the construction of which has not yet
been commenced
bonds
Northern Company’s treasury.
GENERAL.
„
amount there has been charged to “Cost of Road”
the Colum¬ the this
sum of $2,639,798 89; the differehce of $267,364 30 rep¬
Company’s
the amount expended last year (page 8, last year’s
and which in¬ resenting
The report) on construction of track at Spokane; Wash., con¬
cluded the above-mentioned $291,000 bonds at par.
necting the Company’s line with that of the Spokane Port¬
Company purchased the said bonds for $281,185 63, thus land & Seattle Ry. Co. The connecting track having been
being able to liquidate a debt at a saving of $9,814 37, and sold to the S. P. & S. Ry. Co., as stated iq the President’s
this amount has therefore been credited to “Cost of Road.”
Of the total amount of Bonds assumed
$111,515,909 09 report, the sum of $267,364 30, together with charges made
during this year on account of the construction of the track,
There
outstanding In the hands of the public on June 30
1910
108,885,909 09 an aggregate of $726,177 02, has been charged as “Advances
And held
free assets in the Company's treasury
$2,630,000 00 to the Spokane Portland & Seattle Ry. Co.,” and with the
previous advances to that company makes up a portion of
of which the following is a list:
the item appearing on the balance sheet, on another page,
-
The cost of the property purchased in 1907 from
bia & Red Mountain Ry. Co. was taken up on the
books at the price agreed to be paid for it,
Of
were
as
Eastern Ry.
Co. of Minnesota, Northern
Division, First
Mortgage 4% Bonds
Wlllmar & Sioux Falls Ry. Co. First Mortgage 5% Bonds
Spokane Falls & Northern Ry. Co. First Mortgage 6%
Bonds
St. P. M. & M. Ry. Co.
Total
Consolidated Mortgage 4%
Bonds
-
Amount held In treasury
of last year’s report
June 30 1909, as per list on page
Decrease during the year
Of which
Is made up of bonds canceled, as
the balance of.
Is explained below.
Interest is not accrued or
$2,000 00
21,000 00
6
2,583,000 00
24,000 00
$2,630,000 00
26,378,969 70
“Miscellaneous Investments and Advances,” &c., $31,373,634 64.
During the year the Iowa & Great Northern Ry. Co. repaid*
$109,818 30 of the amount that had been advanced to it in
previous years by the Great Northern Ry. Co.
As of July 1 1909, the Manitoba Great Northern Railway
Company, a company chartered by the Province of Manitoba,
Canada, purchased, with governmental sanction, and took
as
$23,748,969 70
14,076,000 00 possession of, the lines of railway formerly owned by the Mid¬
explained, and
land Railway Company of Manitoba, and extending from the
$9,672.969 70 International Boundary line to Portage la Prairie and to
-
above
paid
—•
on
Man.
bonds while held in the Morden,
Northern
To
pay
for this property, the Manitoba
Great
Ry. Co. issued its stock to the amount of $2,040,Company’s treasury.
was subscribed and paid for in cash at par by the
000,
which
CHANGES IN BONDED DEBT.
This sale left the Midland Ry. Co., which
Great Northern.
The comparative statement of bonds outstanding in the is controlled
by the Northern Pacific and Great Northern
hands of the public, given on another page, shows an increase
Railways jointly,and in equal proportions, divested of all its
during the year amounting to $9,366,969 70, which is ex¬ railway lines, but owning valuable properties at Winnipeg,
plained as follows:
Man., acquired for terminals, and which have not as yet been
St. P. M. & M. Ry. Co. Bonds—
developed. The Great Northern’s investment in these pro¬
Pacific Extension Mortgage 4% Bonds, heretofore held In
the Company’s treasury, sold during the year, £2,000,perties, amounting to $1,253,043 06, is included in the
000, or
$9,696,969 70 “Miscellaneous Investments and Advances” item on the
Consolidated Mortgage 4% Bonds Issued in ex¬
balance sheet.
'
change for Dakota Extension Mortgage
Bonds surrendered and canceled and for
There was advanced to the Vancouver Victoria & Eastern
Second Mortgage Bonds redeemed
$3,507,000
From whloh deduct:
Ry. & Nav. Co. during the year, to pay for construction,
Bonds redeemed through operation of
property, &c., the sum of $1,742,355 21. In partial repay¬
Sinking Fund(seea subsequent page) $306,000
ment of the advances that have been made to it in previous
And held in treasury on June 30 1910,
as
per
table above
;
‘
-
'•
24,000
Net increase, Consolidated
i'
' i- r f» c*'
Total issued
-
years,
330,000
-
—3,177,000
00
ii
;—
Mortgage Bonds
""
-
-
$12,873.969 70
the V. V. & E. Co. issued and delivered to the
Great
Northern during this year its full-paid capital stock at par
to the amount of $10,000,000.
Application has been made
to the Canadian authorities to approve an increase in the
1100
THE
CHRONICLE
authorized capitalization of the V. V. & E.
Co., and it is ex¬
pected that when the approval is given, additional V. V. & E.
stock will be issued at
par to the Great Northern in liquida¬
tion of its
account.
The Brandon Saskatchewan & Hudson’s'
Bay By.
Co.
issued $20,000 of additional
capital stock during the year,
which was subscribed and
paid for in cash at par by the Great
Northern, the proceeds being used to pay for additions, im¬
provements, &c.
The Crow’s Nest Southern
Ry. Co. issued $30,000 of ad¬
ditional capital stock during the
year, which was also sub¬
scribed and paid for at par by the Great
[VOJL.
ing homestead
entries of 320
acres
or
LXXXXI.
less of
non-timbered and non-irrigable public lands in non-mineral,
Montana and
Washington. In addition, the Company conducted an edu¬
cational and
advertising campaign designed to promote the
early settlement of the lands along its lines.
The last three annual
reports have referred to suits
in 1907 by stockholders of
the Company to set
brought
aside, on Con¬
stitutional grounds, certain
freight and passenger rates fixed
by the State of Minnesota. In these suits the main
proposi¬
tions asserted on behalf of the
Company were,
that it
entitled to earn a fair return on the value offirst,
all property
devoted to railroad use;
second, that the cost of reproduction
was the minimum
value of its property for rate
purposes;
third, that the value of its property, thus
ascertained, was
largely in excess of its outstanding stock and
bonds; fourth,
that the Minnesota rates were
a
necessary interference with
the Company’s inter-State
was
Northern, the pro¬
being used in repaying the $19,393 32 advanced to the
Crow’s Nest Southern Co., mentioned in last
year’s report,
and in paying for additions and
improvements made to its
property this year. This makes the increase during the
year in the Company’s investment in the Crow’s Nest South¬
ern Ry. Co. the sum of
rates, and, therefore, were unlaw¬
$10,606 68.
ful; fifth, that the Minnesota rates, when
Advances to other controlled Canadian
applied to intra¬
state business
Companies
were
alone, did not produce a reasonable return on
made during the year to
pay for additions and betterments as the value of the
listed below. The total amount
Company’s property situate in Minnesota,
expended during the year on and apportioned to
Minnesota business, and therefore were
account of controlled Canadian
Companies is as follows:
unlawful. Upon the
completion of the testimony, the Master
Manitoba Great Northern Ry. Co
$2,040,000 00 in Chancery filed his
Vancouver Victoria & Eastern Ry. & Nav. Co
report, finding in favor of the Company
1,742,355 21
Brandon Saskatchewan & Hudson's
ceeds
Crow's Nest Southern Ry. Co
Nelson A Fort Sheppard Ry. Co
Red Mountain Ry. Co
New Westminster Southern Ry. Co
,
Bay Ry. Co
20,000 00
10,606 68
2,094 64
767 84
10,304 70
Total..
$3,826,129 07
From which should be deducted the amount
shown on the
balance sheet in last year's report as invested in
the Midland
Ry. Co. of Manitoba, or.
3,152.120 16
Making the
net increase on account of Companies whose
property is operated as a portion of the system
$674,008 91
upon each of these several
His report estab¬
lished the value of all the propositions.
Company’s property at $457,121,469, the value of its property in Minnesota at
$138,425,291,
and held that the
Company was entitled to a return
of
7%
important points
only finally be settled by the
United States; but the facts as found
per annum upon these valuations.
involved in this litigation can
The
by. the Master in Chancery,
exhaustive
Supreme Court
of the
after
an
in¬
quiry, in which all the resources of the State of judicial
Minnesota
were employed
to place the lowest possible valuation
As stated below, there was
upon
expended during the year the property of the Company, demonstrate a conservative
for Additions and Betterments on
properties owned by the capitalization and must disarm the prevalent public criticism
Great Northern Ry. Co. the sum of
$4,555,244 49. Of this that American railways are over-capitalized in so far as any
amount, $2,236,086 15, the cost of Additions, is considered one may seek to apply it to this
Company.
as paid from
capital account; the cost of Betterments, $2,Operating Expenses increased $6,724,608 78, or
20.66%,
319,158 34, has been charged against the “Fund for Perma¬ in somewhat greater ratio than the increase in
gross revenues;
nent Improvements and
of
Maintenance
Betterments,” and has been credited
Way and Structures increased $1,975,943 57,
to “Cost of Additions and Betterments
or
20.17%; Maintenance of Equipment increased
paid
for
‘Fund
from
for Permanent ' Improvements and
$1,346,Betterments.’ ” The 787 35, or 21.81%, and represents greater expenditure for
Fund last mentioned has been credited
repairs
of
locomotives
and
$2,509,700 94 during
cars, due to greater volume of
the year, made up as follows:
$2,319,158 34 from the Surplus traffic, higher wages and increased cost of materials. Trans¬
Income for the year, $19,082 79 net
proceeds from sale of portation Expenses increased $3,246,119 69, or
town lots and lands not
21.9%,
forming a portion of the railway prop¬ against an increase of 20.09% in amount of Revenue
from
erty or land grant and $171,459 81 the credit balance in an Transportation. Cost ratio of
handling
traffic
is
said
to
de¬
account that has been closed into the
Fund instead of into crease as traffic volume increases, but the above
Profit and Loss.
percentages
show that, because of
higher wages and prices for material,
Details of expenditures for
transportation
equipment, elevators,
&c., ap¬
in the President’s report and also in tables below.
The Board
respectfully calls attention of the shareholders
to the reports of the
President, the Comptroller, with cus¬
tomary balance sheet and statistical tables, and of the Land
pear
Commissioner,
JAMES J,
i
HILL,
Chairman.
Mr, James J,
REPORT OF PRESIDENT.
Hill, Chairman Board of Directors.
Dear Sir—Herewith
ended June 30 1910:
please find report for the fiscal
REVENUES, OPERATING EXPENSES* VOLUME
TRAFFIC, &C.
year
OF
Gross operating revenues for the
year were $64,465,369 87,
an increase of
$10,777,925 40 over last year, or 20.08%.
The improvement noted in last
year’s report as beginning
shortly before February 1909 continued
during the entire
fiscal year, resulting in the
reported by the Company.
largest earnings for
one year ever
Of the total increase, Revenues
from Transportation show
$10,742,005
Revenues from Operations Other than 39, or 20.09%, and
Transportation $35,920 01, or
Freight
15.83%.
revenue increased
Number of tons of revenue
of
required the expenditure of
a
larger percent¬
this year than last
the average load per freight car and year, notwithstanding
average number of cars
hauled in freight trains both increased. The
result was an
average load of 518.38 tons per freight train
mile, an in¬
crease of 16.285
tons, or 3.24%, over last year, and an ex¬
age
revenue
penditure of 60.93% of Gross Operating Revenues for
Oper¬
ating Expenses, against 60.64% last year.
Taxes increased $999,929 78,
or 38.9%. v This year the
taxes amount to
14.04% of the “Total Net Revenue” of
$25,427,282 67. The increase in taxes is not all due to in¬
crease in revenues, for in
only one State, Minnesota, are
taxes based on gross
earnings. Of this total increase $650,937 66 was in Canada and in
States other than Minnesota.
Grain crops in those portions of Minnesota and
the Dako¬
tas served
by the Company’s lines, particularly in North Da¬
considerably less in quantity than for several sea¬
sons.
This will result in a reduction in the
Company’s grain
traffic during the current
The quality of the crops,
year.
however, is excellent, and the prevailing good prices will pre¬
vent serious impairment of the
purchasing power of the farm¬
ing communities. General business conditions along the
Company’s lines are good, and there are no local causes for
their not so continuing.
kota,
are
NEW LINES.
$7,210,922 93, or 18.27%.
The following new lines were
completed during the year
freight hauled increased 5,127,708 and
opened for operation:
tons, or 28.33%; number of tons hauled one mile
increased
Nov. 1 1909, Branch line from Columbia River station
836,814,615, or 17.28%; average distance haul for each ton
to
was 244.51
Mansfield, Wash., 60.62 miles in length;
miles, a decrease of 23.04 miles, or
8.61%, and
Dec. 13 1909, Extension from
average revenue per ton mile increased
Nashwauk, Minn., to a con¬
68-10,000 of a cent* or nection with the main line at
8-10 of 1%.
Gunn, Minn, (near La Prairie),
This small increase comes, not from advances
22.07 miles long;
in freight rates, but from
changes in the class and character
Dec. 23
of traffic
1909, Extension of the Vancouver Victoria &
a greater relative
increase in vol¬ Eastern
Ry. & Nav. Co.’s line from Keremeos to Princeton,
with long-haul traffic, B.
compared
as is shown
C>, 40.91 miles.
by the decrease in length of
haul.
The branch line from Spokane, Wash., to a connection with
Passenger train revenue increased average
25.63%, of which passenger revenue was $3,473,329 18, or the tracks of the Spokane Portland & Seattle Ry. Co., 2.16
$3,333,851 85, or miles in lenght, was completed, opened for
30.37%. Number of passengers carried increased
operation, and,
or
1,148,171, as of June 5 1910, sold and conveyed to the S.
15.96%, and each passenger traveled an
P. & S. Ry,
of 77.8
miles, an increase of 9.67 miles, or average distance Co,, half of the stock of which the Company owns. This
counting for the increase of 158,923,618, or 14.19%, thus ac¬ connecting track gives the Company a direct line into Port¬
32.41% in number land, Oregon, over which through service has been estab¬
of passengers carried one
mile.
The average revenue
per lished.
passenger per mile was 2.204 cents,
a decrease of 35-1,000 of
a cent, or
The branch line from Bainville to
1.56%.
Plentywood, Mont., 52
The increased
miles, is nearing completion, track-laying having been fin¬
passenger traffic was due, in
part, to special ished.
conditions. The
Alaska-YukonrPacific Exposition, held last ’‘feThe branch from Stanley to Powers
year at Seattle, attracted
Lake, N. D., 24 miles,
lafge numbers, and a heavy travel has been
was produced
extended to Wildrose, N. D., about 51 miles from
by the opening for settlement of the
Coeur d-Alene and
Flathead; Stanley; grading to Wildrose and bridging between
Spokane Indian reservations, the
Stanley
Rocky and Powers Lake will be
Boy Indian lands, 1,400,000 acres, and
practically completed this fall and
by the new law allow¬ the line will be
ready for track in the spring of 1811;
handled and from
ume
of short-haul when
Ooi'. 22
begun during the year on the following new lines:
Oroville, Wash., in a general southerly direction,
following the Okanogan and Columbia rivers, to Pateros,
78 miles.
Grading will be completed this fall and the line
will be ready for track-laying in the spring of 1911.
It will
furnish needed transportation to the Okanogan Valley, a
very promising fruit and agricultural territory already par¬
tially developed and settled, and ultimately will be extended
southerly along the Columbia River to a connection with the
main line at Wenatchee, Wash.
Considerable right of way
for such extension has been secured.
From the main line at Fargo, N. D., in a general north¬
westerly direction to a connection with the main line at
Surrey, N. D., about 225 miles in length. This line passes
through a good agricultural country already well settled and
under cultivation, which will furnish a large additional local
traffic.
It will also materially shorten the distance for
through traffic and relieve congestion on the present main
lines through North Dakota.
It is expected that about 18
miles of track will be laid on the Surrey end this fall.
A branch from Vaughn, Mont., west of Great Falls, in a
general westerly direction to Augusta, about 40 miles, was
located, and grading begun between Vaughn and Simms.
This line runs through the Sun River Valley, a well settled
farming country, and through the territory to be served by
the Government's Fort Shaw or Sun River irrigation pro¬
ject. Work on it has been suspended for the present.
Extensions to the Vancouver Victoria & Eastern line are
now
being graded from Princeton westerly to Tulameen,
B. C., and from Abbotsford, near Sumas, easterly to Chilli¬
wack, B. C.
Surveys for and locations of several other lines, principally
in North Dakota, Montana and Washington, have been made
during the year.
During the year trackage rights for 999 years were ob¬
tained over the Northern Pacific line between Seattle and
Vancouver, Washington, and over the Northern Pacific and
Work
was
From
Spokane Portland & Seattle lines from Vancouver, Wash¬
ington, into Portland, Oregon, together with the right to use
S. P. & S. terminals in the latter city.
On June 19 1910
through passenger train service over these lines was inaugu¬
rated.
The
properties in Sioux City, Iowa, owned and formerly
operated by the Iowa & Great Northern Railway Company
and the Union Terminal Railway Company were purchased
by and have been conveyed in fee to the Great Northern
Railway Company, and operation thereof and of the lines
belonging to the Great Northern within the State of Iowa,
formerly operated by the Iowa & Great Northern Railway
Company as lessee, was begun at midnight June 30 1910.
As this transaction was not completed during the year just
ended, it does not appear in the accounts submitted herewith.
Commencing July 1 1910, the Company owns and, in its
own name, directly operates all property in the United States
forming the Great Northern System, excepting the Duluth
Terminal Railway Company, which owns the elevated en¬
trance into Duluth, Minnesota, and the Minneapolis Western
Railway, a switching railway in Minneapolis, Minnesota.
EQUIPMENT.
Of the equipment contracted for during the year ended
June 30 1909, there remained undelivered on that date:
17 passenger train cars, 502 refrigerator cars and one piledriver.
During the year ended June 30 1910 contracts were
operates, 141 four-wheel caboose cars have been rebuilt dur¬
ing the
year into eight-wheel cars, and electric head lights
have been applied on many locomotives.
The total amount charged to “Equipment Account" dur¬
ing the year, for equipment received under contracts, built
and under construction at the Company's shops, and for im¬
provements and betterments to equipment in service, was
$4,388,170 47.
There were taken out of service during the year:
2
2
1
1
1
11
2
1
18
1
301
10
Locomotives (sold),
had been received and taken to account June 30 1910:
42 Steam Locomotives, as follows:
25 Ten-wheel passenger locomotives, 26x30 In. cylinders, weighing
150.000 pounds on drivers;
17 Mallet compound articulated
35x32 In. cylinders, weighing
2
12
14
12
30
7
Passenger Train Cars,
as
freight locomotives, 23 in.
350,000 pounds on drivers.
follows:
Observation parlor cars, 72 feet 6 Inches long;
Twelve-section first-class sleeping cars, 72 feet 6 inches
Fourteen-section tourist sleeping cars, 60 feet long.
Dining
cars,
and
long;
70 feet long;
Parlor car,
Observation compartment car,
Dining car,
Passenger coaches (1 sold),
Tourist
Smoking
cars,
62 feet long;
30 Baggage cars, 65 feet long;
10
10
Baggage and mall cars, 70 feet 8 H Inches long;
Express refrigerator cars, 50 feet long, 50,000 pounds capacity.
2,604 Freight Service Cars,
as
Business car,
Box cars,
Furniture cars;
1 Pile
driver, with 60 h. p. locomotive type boiler, 2,500
pound hammer, geared for self-propulsion.
steam
locomotives, 108
on
passenger
contracts June 30 1910
train
cars
58
and 1,400 freight
cars.
There
were
built at the
Company's shops during the year:
10 Six-wheel
switching locomotives, 10x26 In. cylinders, weighing 135,000
pounds on drivers, mentioned In last year’s report as being then under
1
1
construction;
Express refrigerator car, and
Ditching machine car.
All of the above described equipment
brakes and automatic couplers.
The fitting
up
is fitted with air
of passenger train oars with electric lighting
apparatus has been continued during the year.
with the laws of
some
To comply
of the States in which the
Company
Refrigerator
cars,
Stock cars,
Flat, coal and gondola cars
Sand cars,
Ore car, wood,
Ore cars, steel,
Ballast cars,
Caboose cars (10 sold),
Cinder car,
Boarding
cars,
Tool car, and
Water and supply cars.
Original cost of the above equipment was $685,746 03. Of
this amount $1,578 77 has been credited to the investment
in the Vancouver Victoria & Eastern Ry. & Nav. Co. and
$684,167 26 to “Equipment Account," both amounts, less
salvage, being charged against the Equipment Depreciation
Fund and Renewals account.
The amount standing to the
credit of the Equipment Depreciation Fund June 30 1910,
$17,698,194 57, as shown by balance sheet, represents the
depreciation accrued to that date on the equipment then
actually in service and a list of which appears on another
page.
In addition to the equipment above listed as added to and
taken out of service during the year, some conversions were
made requiring changes in classification and adjustments in
the accounts, resulting in a net credit of $4,751 27 to “Equip¬
ment Account."
following tables show the increase, both in number and
efficiency, of steam locomotives and number and capacity of
freight cars, by years, for the ten years ended June 30 1910:
The
STEAM LOCOMOTIVES.
Tractive Power
in Pounds.
Weight in Tons Ex¬
clusive of Tender, i
Average
Weight
Num¬
June
30.
per
Average
ber.
Total.
per
550
563
608
637
708
707
786
943
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1,081
1,073
1,123
12,147,810
12,847,630
15,050,560
16,278,760
19,058,360
19,060,270
21,959,730
28,335,770
34,398,875
34,049,845
36,641,215
22.087
22,820
24,754
25,555
26,918
26,959
27,938
30,048
31,821
31,733
32,628
Average
Engine on
per
Engine.
Drivers
in Tons«
57.34
59.03
63.82
65.61
68.41
68.48
71.98
78.28
82.51
82.66
85.38
46.25
47.56
50.90
54.42
57.59
57.68
59.41
63.53
66.87
66.72
68.55
Total.
Engine.
31,536
33.236
38,805
41,792
48,431
48,416
t6,579
73,817
89,190
88,696
95,885
Note.—Tractive power computed according to the formula prescribed
by the Inter-State Commerce Commission in its form for annual report by
carriers.
The number of locomotives has increased 573
during the
104.18%, the total tractive power has increased
24,493,405 lbs, or 201.63%, and the average tractive power
perlocomotive 10,541 pounds, or 47.72%. While the number of
locomotives has more than doubled, each locomotive owned
June 30 1910 is, on the average, 47.72% more efficient than
ten years, or
each locomotive owned June 30 1900.
FREIGHT CARS.
(Includes Box, Transfer, Freight, Furniture, Refrigerator, Stock; Flat;
Coal, Gondola, Sand and Ore Cars (both wood and steel).
Capacity (in Tons).
Number.
June 30.
Total.
21,484
22,989
24,944
28,426
30,791
31,277
33,296
38,385
42,131
42,280
44,283
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
freight
cars
Aver, per
548,185
606,701
688,594
839,606
932,332
951,812
1,041,707
1,282,683
1,457,236
1,474,387
1,569,226
Car.
25.52
26.39
27.60
29.54
30.28
30.43
!
31.29
33.42
34.59
34.87
35.44
,
has increased 22,799 during the
ten years, or 106.12%; their total carrying capacity 1,021,041
tons, or 186.26%, and the average carrying capacity, or
car 38.87%.
Cost of equipment
page, all in service June 30 1910, is
$35,162,168 76 more than cost of equipment owned by the
Great Northern and its controlled companies on June 30
1900.
This covers, in addition to locomotives and freight
efficiency, of each freight
listed
follows:
502 Refrigerator cars, 40 feet long, 60,000 pounds capacity,
1,000 Plain box cars, 40 feet long, 80.000 pounds capacity;
100 Drop-bottom gondola cars. 41 feet long, 100,000 pounds capacity:
1,000 Steel ore cars, drop-bottom, 22 feet long, 100,000 pounds capacity;
2 Wood ore cars, drop-bottom. 22 feet long, 100,000 pounds capacity.
There remained undelivered
cars,
Passenger and baggage car,
Baggage, mail ana express cars,
The number of
First-class coaches, 62 feet long;
13
22
227
16
1
3
16
52
1
3
1
5
Sleeping cars,
placed for 100 locomotives, 218 passenger train cars and 3,502
freight cars.
Of the total equipment above mentioned, the following
127
1101
THE CHRONICLE
1910.]
cars
on
another
Ejoove specifically mentioned,
and work
equipment.
increase in passenger
ADDITIONS AND BETTERMENTS.
The annex to the elevators at Superior, Wis., consisting of
reinforced concrete storage tanks, was completed and in ser¬
vice in time to handle last year's crop.
The total amount
expended during the year and charged to investment in
elevators was $150,358 14, of which $148,178 44 was on ac¬
count of the storage tanks mentioned and $2,179 70 was the
cost of improvements to existing elevators.
The enlargement of the electric power plant near Leaven¬
worth, Wash., used in connection with handling trains
through the Cascade Tunnel with electric motors, has been
completed, an additional unit having been installed and put
in operation.
/
1102
THE
CHRONICLE
[VOL.
LXXXXI.
Terminals at Wenatchee, Wash., have been revised on Lines owned by the Great Northern
Ry. Co
44.09 miles
2.74
“
making that station the terminal of the Columbia Lines owned by controlled Canadian companies (net)
River branch, and the
Total additional side track mileage on old lines
following structures have been built;
46.83 miles
brick passenger station 30 by 217 feet, brick eating house
The work of building sea wall and
24 by 44 feet, old
grading for second track
depot building re-arranged for freight sta¬
tion, frame fruit warehouse 20 by 175 feet, in place of old between Everett and Ballard, Wash., was continued during
one, three-stall frame engine house with 50 feet cinder pit the year, 15,333 lineal feet of sea wall having been completed
between Everett and Mosher.
and 66 feet turntable, coaling
platform and derrick, new sand
Second main track was laid between the
house, 16 by 24 feet water tank on 30 feet tower with two
Company’s ocean
docks and the north
stand pipes.
portal of the tunnel under the city of
Additional yard tracks were laid at this point.
A new brick
passenger station 36 by 196 feet, eating house Seattle, Wash., 1.78 miles.
At the close of the
32 by 52 feet, and service
year work was in progress on the second
building 30 by 100 feet, have been main
track between Hillyard and
built at Havre, Mont., replacing other
Spokane, Wash., 3.52
buildings; a brick
passenger station 32 by 156 feet, and brick eating house 32 miles, which is now completed.
Work
was also in progress
by 52 feet, at Williston, N. D.; and a brick passenger station at that date on the revision of the present main line and in
construction of new second main track from the summit
32 by 141 feet, at
of
Watertown, S. D. New station buildings the
have been erected at Belton, Dodson and Somers,
Rocky Mountains to Java, Mont., 14.38 miles, which
Mont.; will be
completed late this fall. The curvature on the pres¬
Laclede, Idaho, and Orient and Columbia River, Wash.;
ent line will be
and station buildings in place of smaller ones or
buildings de¬ the second track materially reduced, and the construction of
will avoid delays and congestion in
stroyed by fire at Monticello and Clara City, Minn., York,
handling
traffic over the
N. D., and Odessa, Wash.
A new station building, joint
grade
on
the
east
of the
mountains^
the
side
mountains being 1%
with the Northern Pacific Ry., has been built at
against west-bound traffic, compared
Cloquet, with a
grade of 1.8% on the west side of the mountains
Minn., in place of a smaller depot. Work was in progress at
the close of the year on several other station
against east bound traffic.
buildings.
Several small changes of line or
Three station buildings, replaced by new
grade were made during the
ones, were moved
to other stations not
previously supplied with station build¬ year. Between Hinton and Merrill, Iowa, the grade was
ings. Extensions were made to the depots at 14 stations, raised for a distance of seven miles to place track above high
water.
At Dodson,
26 portable depots placed, one
Mont., the grade was raised a maximum
freight house and two shelter
sheds built, and improvements made at 60 stations in the of four feet for a distance of 6,600 feet in connection
with
way of building additional or improved platforms, laying United States Irrigation Projects in the Milk River
Valley.
At
cement walks, installing electric lights,
Surrey, N. D., the grade of the present main line was
grading and improv¬
ing grounds, &c. Loading platforms have been built at changed from a 6-10 to a 3-10 and 4-10 grade for a distance of
four stations; machinery platforms at
two, one machinery 3,500 feet, in connection with the new line under construction
platform extended, and derricks placed on the machinery between Surrey and Fargo, N. D., before mentioned. At
platforms at two additional stations. A 50 feet 100 tons Fowler, Mont., the alignment was changed for a distance of
capacity track scale was placed at Tacoma, Wash., two 24 1.84 miles, resulting in a saving of 112 degrees of curvature.
The work of reducing the line
feet 100 tons capacity track scales at
grade, filling in a portion of
Allouez, Wis., and the the bed of
60 tons capacity track scale at
False Creek and enlarging the
Garretson, S. D., replaced
Company’s terminal
with a 50 feet 80 tons
capacity scale. Mail cranes were property at Vancouver, B. C., has made satisfactory pro¬
erected at 30 stations.
Stock yards were built at five sta¬ gress during the year.
At the close of the year several line
tions; those at six stations improved by building additional
changes were under
way, among them a new line between Gerber and
pens, furnishing water supply or stock scales, and
unloading
Armington, .
chutes placed at 39 stations.
Mont., a distance of 18.77 miles, reducing the ruling
grades ~
from
1.5
to 0.6 per cent.
Facilities for caring for locomotives have been
This work is exceedingly heavy,
materially but when done the
entire line between Great Falls and Bill¬
enlarged and improved, the engine house at Great Falls,
Mont., being enlarged by the addition of 10 stalls (brick), ings, Mont., will be at proper standard. In order to avoid
a recurrence of the trouble
80 feet- turntable with tractor in
experienced last winter from snow
place of 66 feet table, 15 by slides
in the Cascade
15 feet pump house, 100,000
Mountains, several changes of line are
gallons capacity water tank on
now being made—one at
30 feet steel tower with three stand
Berne, on the east side of the moun¬
pipes. At Butte, Mont.,
four stalls of the engine house were rebuilt
tains, about two miles in length, one at Wellington at the
(brick),
80
feet
west portal of the Cascade
turntable with tractor in place of 66 feet
Tunnel, about one mile in length,
table, 70 feet cinder in connection
with which there is
pit, coaling station with cranes and buckets, 28 feet frame
being built a double-track
reinforced concrete snow shed about
extension to store house, 28 by 32 feet
3,900 feet long, and one
brick and concrete
at Scenic, on the west
oil house and new scrap bins. A six-stall brick
slope of the mountains, about 1,800
engine
house
feet in length.
and machine shop, 80 feet turntable with
In addition, work is in progress on 6,980
tractor, 120 feet lineal feet
of timber snow sheds on the east and west
cinder pit, and additional water
pipe lines were constructed of
slopes
the Cascade Mountains.
at Marcus, Wash.
AH this work will be
Additional yard tracks were laid at
completed
before the coming winter.
Great Falls, Butte and Marcus in connection with
the im¬
Embankments have been widened or restored to
provements above mentioned. A two-stall frame
engine width and
original
house was built at Virginia, Minn.,
grade line on 800 miles of road, and 1,378.5 miles
a brick addition of 10
of track have been ballasted with
stalls made to the engine house at Grand
gravel, of ,which 333.5
Forks, N. D., and miles was track not
an eight-stall brick addition to
the engine house at
previously
532 miles on which
ballasted,
Havre, ballast was restored and an
Mont.
An 80 feet turntable was
additional lift given and 513
put in at Grand Forks,
D., in place of a 66 feet table; four 66 feet and one 60 feet miles on which ballast was restored.
turn tables put in at various
Following is the amount of work done during the year in
points, replacing shorter tables,
and a 66 feet table put in at
replacement
of wooden and iron bridges and trestles with
Blaine, Wash. The facilities
for coaling locomotives have been
steel,
or
them with solid embankments:
filling
improved at four stations, Length of steel bridges
built In replacement
in addition to the improvements above
2,180 lln. ft.
Length
of bridges and trestles filled
specifically mentioned.
5,028 “
In the way of shop
improvements, a brick car repair shop
Total
108 by 240 feet has been built at
7,208 lln. ft.
Superior, Wis.; a brick black¬
smith shop 120 by 140
To provide water ways for bridges filled as
feet, brick addition of 20 feet to ma¬
above, there
chine shop and extension of 20 feet to the
were built 1 stone culvert, 10 concrete
lathe house at
culverts, 40 pipe cul¬
verts and 4 box culverts.
Eleven concrete culverts were
Delta, Wash., and improvements at three other shop
plants,
such as installing additional
boilers, oil storage tanks, wash¬ built, replacing pipe and timber culverts, and 421 pipe cul¬
out plants, derricks,
verts in replacement of wooden box culverts.
fuel, lumber and coal and coke sheds.
A storage reservoir for water
On June 30 1910, of the total mileage there were
4,926.75
supply, capacity 20,000,000
miles
of road which the Company had owned for ten
gallons, has been built at Tagus, N. D., the capacity of the
years, on
storage reservoir at Des Lacs, N. D., increased by 3,000,000 which during that period steel bridging was increased 32,786
gallons, and improvements made to the water supply at 22 lineal feet and timber bridging was reduced 87,073 lineal feet.
The approximate yardage of material moved
stations, in addition to the water supply improvements al¬
during the
year ended June 30 1910 in Company work is as follows:
ready mentioned in connection with engine house
improve¬
account of
_
-
ments.
The following miscellaneous structures
the year: Hotel at Belton,
Mont.; second
were
built
during
In Changes of line and reduction of grades
2,260,663 cu. yds.
(Or which 260,700 cu. yds. were used In filling tide
lands at Vancouver, B. C.)
Widening, raising and restoring banks
821,641"
story addition to
Ballasting (gravel)
1,408,252 ”
"
dormitory at Kelly Lake, Minn.; publicity building at St.
Filling bridges
156,703 "
Paul and exhibit building at
Filling tide lands at Seattle, Wash
90,000 " * "
Williston, N. D., in connection
with location of settlers
Total
along the company’s lines; an immi¬
.4,737,259 CU. yds.
grant house 24 by 24 feet at Neche, N. D., and an extension
of 36 feet to the detention
There were also placed on old lines:
building at Seattle, Wash.; a
Masonry
freight transfer platform 8 by 350 feet at Great Falls,
52,707 cu. yds.
Concrete
Mont.;
39,445
shed for handling
sleeping car bedding at Tacoma, Wash.;
Riprap
94,502
a steamboat dock 36
by 154 feet at Somers, Mont., on FlatTotat
head Lake;
186,654 CU. yds.
eight additional houses for section laborers and
many bunk houses.
Main tracks have been relaid during the
year as follows:
Building of additional passing tracks, extension of exist¬ 291.98 miles with
90-pound rail, 1.38 miles with 85-pound
ing ones and laying of other sidings and spur
continued as the traffic and its movement tracks, have been rail, 1.78 miles with 77J^-pound rail, 112.28 miles with 75required, the net pound rail and 6.44 miles with 56 and 60-pound rail, in each,
increase during the year in side
track mileage, not includ¬ case
replacing rails of lighter weight; total, 413.86 miles. 2$
ing tracks on new lines under construction
or
The following comparative table shows the number of milek
opened for
operation during the year, being:
of each weight of rails in first main track on the dates
named?
-
-
-
-
««
M
• «
ff
-
.
78091
Oct. 22
WEIGHT OF STEEL RAILS, ON JUNE 30THOF EACH OF THE YEARS
Dumber of miles of first main track laid.
.
(Does not Include rails
»»
80
Miles.
Miles.
122.28
245.63
259.35
257.53
254.53
469.72
646.69
622.52
602.60
1,085.00
1,168.73
1,145.05
1,089.73
1,062.75
584.52
1.049.90
562.48
961.91
1900-.-1001---1902
1903--.1904-.-.
Hjfc:::
1909-.-.
1910.---
"
38*96
410.25
12~2~67
748.33
838.81
831.58
405.64
697.57
77 H
85
.
Miles.
,
,
75
,
YAtlD IN POUNDS.
72
.
Miles.
Miles.
1,154.75
1,160.97
1,155.26
1,152.62
1,030.62
986.01
25". 29
950.54
836.53
727.51
691.50
739.74
26.35
68
66 X
Miles.
Miles.
Miles.
"
45".61
24.75
24.75
24.75
25.29
Total.
60
70
4
100.04
150.38
191.17
56
|
1,153.65
1,070.51
972.32
961.45
958.83
940.03
909.91
813.50
712.62
709.79
721.28
944.76
929.35
923.81
897.08
946.02
5.404.20
1,725.20
1,708.78
1,758.90
1,650.53
1,594.85
1,512.96
1,474.05
1,390,25
1,354.63
1,229.65
1,193.38
1,113.38
1,120.96
1,080.46
110.94
109.85
Miles.
Miles.
Miles.
979.11
987.46
94.96
102.00
111.12
111.12
111.12
......
965.69
5,447.96
5,845.78
5.879.20
5,942.60
6,101.82
6,248.69
6,457.64
6,687.98
6,876.34
6,999.94
66 H-lb. Ralls are used—75-lb. Ralls re-rolled.
the Company has built
many miles of branch lines, the tracks on some of which were
laid 'with rails removed from the older main tracks, being
replaced with heavier metal. For this reason the foregoing
table under-states actual improvement on old lines.
Includ¬
ing the Spokane Falls & Northern System, then operated
separately, the Great Northern Railway and its Proprietary
Companies owned June 30 1900 5,404.20 miles of first main
were
1900 to July 30 1910
From July 1
Main Tracks.)
laid In Second, Third. Fourth, Fifth and Sixth
.
Miles.
269.21
274.61
755.19
927.72
used—80-lb. Ralls re-rolled.
72-lb. Ralls are
SHOWN.
WEIGHT PER
.
Year.
1103
THE CHRONICLE
1910.]
Com¬
made][to the properties of "controlled Canadian
panies, and.are included in the amounts shown on a previous
page as advanced to such companies during the year,
leaving as expended on properties owned by the Great
Northern Railway Company:
.
$2,236,086 15
2,319,158 34
Additions
Betterments
$4,555,244 49
Total
track.
Following is a comparative
Wt. of
Rails
Pr. Yd.
In Track
July 1
1900.
Not Now
Owned.
Balance.
Miles.
Miles.
Miles.
90
85
122.28
269.21
61.56
269.21
1,154.75
.25
1,154.50
979.11
2.53
976.58
1,153.65
1,725.20
153.53
53.31
1,000.12
1,671.89
5,404.20
•270.34
5,133.86
...
75
72
70
68
66 y2
80
56
Totals
In Track
June 30
1910.
60.72
80
77K
table which is self-explanatory:
•
Explained by transfer of Nebraska
changes of line and removal of tracks.
than
ever
before in its history.
Respectfully submitted,
Miles.
Miles.
660.41
564.92
439.88
569.17
107.40
480.22
107.40
L. W. HILL,
REVENUE
535.78
519.90
837.62
834.27
2,412.56
2,412.56
lines to the Burlington
In 1907,
tracks.
been built during
Minn., 24 and 47levers respectively; in Washington, 4-lever plant at Bow,
2-levers at Delta, 8-levers at Ballard and 10-levers at Seat¬
tle; also a 40-lever plant at New Westminster, B. C. Changes
have been made in other interlockers and numerous inter¬
following interlocking plants have
the year: Elk River and East St. Cloud,
The
connected derails put
additions to
in.
statement of actual cost during
and betterments of the property:
Following is
a
'Accounts—
Additions.
Right of Way & Station Grounds 3391,016 48
Or. 18,563 65
Widening Cuts and Fills
Real Estate
Protection of Banks
Grade Revisions and Change of
Line
Tunnel
>_
Improvements
Bridges, Trestles and Culverts.
Increased Weight of Rail
Improved Frogs and Switches.
Track Fastenings and Other
676 35
...
_
Material
Ballast
Additional Main Tracks
Hidings and Spur Tracks
Terminal
Yards
Fencing .Right of Way
Improvement of Over and Un¬
der Grade Crossings
Track Elevation, Elimination
of Grade Crossings, Ac
Interlocking Apparatus.
Block and Other Signal Appa¬
_
ratus
Telegraph and Telephone Lines
Station Buildings and Fixtures.
Shops,
Engine Houses and
Turntables
Shop Machinery and Tools
Water and Fuel Stations.
Dock and Wharf Property
Electric Light and Power Plants
Eleotrlc Power Transmission.
Snow and Sand Fences and
Snow Sheds
Miscellaneous Structures
.
Total.
Betterments.
$141,511 86
247,716 27
269,037
4,188
431,375
279,948
10,842
79
22
08
80
29
173,031 96
357,366 74
611,205
546,519
222,383
22,769
68
95
67
06
12,928 99
23,129 26
Cr.1,965 32
119,656 93
132,127 76
104,815 62
34,643 88
4,611 40
EXPENSES,
OPERATING
ACCOUNT—REVENUES.
ETC., FOR THE FISCAL YEAR ENDED JUNE 30 1910 OF THE
LINES OPERATED AS GREAT NORTHERN RAILWAY COM¬
PANY AND THOSE INDEPENDENTLY OPERATED: IOWA &
GREAT NORTHERN RAILWAY 'COMPANY, ^.MINNEAPOLIS
WESTERN RAILWAY COMPANY AND DULUTH TERMINAL
RAILWAY COMPANY.
$2,350,499 32
Total.
$391,016
Cr.18,563
141,511
247.716
96
74
68
95
67
06
19,582 09
18,818 92
395 43
23,524 69
116,395 43
349,890 67
79
72
01
77
25,682 12
5,537 53
Other Passenger
Revenue
Train
2,518 76
387,838 29
21,535 95
.0047
.7224
.0401
.0574
36,977 49
$8,924 19
.0632
99.5922 $64,202,467 37
$53,460,461 98
99.5772
Trans¬
portation Revenue. _
Miscellaneous
Transportation
Revenue from Operations
Other than Transport'n
Station and Train Priv¬
ileges
Parcel Room Receipts.
Storage—Freight
and
Baggage
Car Service
Telegraph Service
Rents of Buildings
.0376
.0250
$24,237 19
16,101 40
$22,510 45
12,638 65
.0419
.0236
.0576
.1329
.0260
37,165 34
85.680 50
16,755 41
29,416 89
64,036 18
12,949 84
.0548
.1193
.0241
.0405
26,119 85
56,842 81
25,498 33
59,932 15
.0475
.0882
.4078
$262,902 50
$226,982 49
.4228
and
other Property
Miscellaneous
Total
Operating Rev-
*
100.0000 $64,465,369 87
55
34
89
71
21
31
$53,687,444 47 100.0000
30 1910,, Year ended June
Class—
Maintenance
of Total.
of
[
I
Traffic Expenses
.
Transportation Exp’s
.
.
Operating
Expenses
Total
Amount.
29.9742 $11,773,314 02
19.1472
2.3476
46.0019
2.5291
Ex-
7,520,633
922,103
18,068,666
993,378
87
87
08
16
..^
,,,
..
„
100.0000
$S0,278;tf08 00
of Road OperatedRevenue from Transportation
Revenue from Operations Other than
Amount.
of Toted.
$0,797,370 45
30.0962
52
55
39
31
45.5329
6,173,846
745,846
14.822.546
1.013.877
Net Operating Revenue
Net Revenue from Outside
,-rj t
8.1145
,
•
$9,145 80
--
Operations
Operating Revenue
Operating Expenses and TaXes, per cent
of:
$7,852 $4
37.45
33.34
$9,183 25
5,595 26
$7,685 98
4,781 68
$3,587 99
3449
$3,104 30
$3,622 18
$3,140 90
506 66
377 55
$3,113 56
.$3,113
58
$2,763 35
7,019 69
6,807 96
61.16
60.93
60.89
60.64
Transportation
Gross
i
Operating Revenue plus Net Rftventtci front
Outside Operations
2.2912
1910.
Operating Income
Gross
18.0652
$32,553,487 22 100.0000
Per Mile
Operating Revenues
Operating Expenses.
30 1909.
Per Cent
Per Cent
57,854 06
23.290 33
$2,523,984 75 $4,874,484 07
.1116
Operating Expenses.
Year ended June
Gross
252,720
116.716
103,977
22,907
80.506
14,112
45,813 30
1,522,962 56
845.627 04
73.5085
20.4479
.2933
.0853
2.8367
1.5751
2,755 08
433,526 69
30,547 53
Special Service Trains.
Total Revenue from
of Total.
Amount.
$39,464,810 65
10.977,948 22
157,483 02
.0043
.6725
.0474
.
Switching
65
86
27
269,037 79
4,188 22
432,051 43
279,948 80
10,842 29
173,031
357,366
611,205
546,519
222,383
22,769
_
Mall
48
19,582 09
31,747 91
120,592
11,900
69,334
18,295
Passenger
Excess Baggage
Parlor and Chair Car.
30 1909.
Year ended June
Per Cent
of Total.
Amount.
72.4043 $46,675,733 58
22.2008
14,311,800 07
.2670
172,110 62
.0939
60,504 01
2.3120
1,490,459 29
1.5326
988,053 01
portation—
Freight
Express
30 1910.
Per Cent
Revenue from Trans¬
enues
Cr.29,768 13
118,360 75
230,233 74
Year ended June
Gross
Cr.29,768 13
80,506 21
14,112 31
32,171 94
17.752 80
the year of
shown, Additions costing $114,413 17
fand Betterments costing $204,826 41, a total of $319,239 58,
'Of the total amounts
•_
Revenues.
Company has a considerable mileage of branch lines,
on which the comparatively light traffic does not require
heavy rails.
Not including fencing on new lines, 140.3 miles of right-ofway fences have been built during the year.
A large number
of trees have been planted along the right-of-way of the
Northern, Dakota and Minot divisions, principally in North
Dakota, to furnish protection from snow. In order to ob¬
tain an adequate supply of trees for this purpose, a tree nurs¬
ery has been started near Minot, N. D.
A steel bridge 436 feet in length, carrying Third Street,
Superior, Wis., over the Company’s tracks, has been com¬
pleted, and the Union Terminal Co., jointly with other rail¬
ways, is now building a steel bridge 1,089 feet in length,
carrying Wall Street, Sioux City, Iowa, over their terminal
or
President.
519.26
25.29
45.49
The
locked
have not
Company’s roadbed, tracks and equipment
the year, but greatly im¬
proved, and the property in its entirety is in better condition
Decrease.
Increase.
Miles.
660.41
564.92
501.44
838.38
635.24
25.29
45.49
440.80
5,133.86
The
only been fully maintained during
Changes During
10-Year Period.
■
36 60
«■
66.22
,
65.12
1104
THE
CHRONICLE
INCOME ACCOUNT—FISCAL YEAR
ENDED JUNE SO 1010.
Lines Operated as Great Northern
Railway
and Those Indepen¬
Company
dently Operated: Iowa & Great Northern
Railway Company,
Minneapolis Western Railway Company
and
Duluth Terminal Railway Co.
Operating Income—
Hail Operations:
Operating Revenues
Net
Operating Revenues
Outside Operations:
Net Revenues from:
I
Net Revenue from Outside
Operatlons.
Miscellaneous Income
40
00
78
26
Gross
Corporate
way Co
Minneapolis Western Ry. Co
$111,515,909 09
500,000 00
Total
Of this amount there are:
112,015,909 09
Outstanding in the hands of the Public
as per statement
on 1 ter
page ....$109,385,909 09
Held In Treasury of the
Great North¬
ern
Ry. Co
2,630.000 00
N. P.-G. N. Joint C. B. &
Q. Collateral 4%
bonds
$215,227,000 00
Less—Northern Pacific Ry. Co’s
propor¬
tion, one-half..
107,613,500 00
118,177 53
,
5,321,976 00
Net Corporate Income
107,613,500 00
Total Capitalization
$17,791,824 42
Against which has been charged—
Dividends on Great Northern Ry. Stock:
Aug. 2 1909, 1
on $209,979,600
Nov. 1 1909, \ H% on
209,981,200
Feb. 1 1910, 1 H% on 209,981,300
May 2 1910, 15i% on 209,981,500
$3,674,648
3,674,671
3,674,672
3,674,676
Audited Vouchers Unpaid
Unpaid Pay-Rolls
Unpaid Coupons, including those due
July 1
1910
00
00
75
25
Stock
$3,093,161 42
774,003 08
4,312 00
Unpresented
1,224 00
851,823 72
Other Accounts Payable
Total
Accrued Liabilities Not Yet Due.
Accrued Taxes not due
$1,435,950 92
Bond Interest Accrued not due
174,941 66
Total
i
1,610.892 58
Deferred Liabilities
Balances due Affiliated
Companies
3,587,650 33
Unexpended Balances
GENERAL BALANCE SHEET JUNE
30 1910.
Cost of Property.
Railway Co.:
$257,158,527
1,991,490 35
on Great Northern
Ry.
Stock
Matured S. F. & N. Ry. Co.’s
Debentures
10.162,372 08
Note.—As In former years, the
Company’s proportion of Interest Accrued
on Northern Pacific-Great
Northern Joint C. B. & Q. Collateral
of the Dividends Received
Bonds and
on the C. B. 8b
Bonds, have been omitted in the above Q. Stock deposited to secure said
Income
Account
to
make
it more
clear, those items counterbalancing.
owned by the Great Northern
Cost of Road
Cost of Equipment
Cost of Elevators
$3,840,330 25
3,473,192 36
Unpaid Dividends
14,698,663 00
Property
$429,610,909 09
Current Liabilities.
Of the Surplus of
There has been transferred to
“Fund for
Permanent Improvements and Better¬
ments,” to cover cost of
Betterments
made to the Property
$2,319,158 34
And to Profit and Loss. during the year
CONDENSED
.$209,981,500 0(1
Bonds Assumed by Great
Northern Rail-
$255,227 87
125,386 76
4,823,183 84
Hire of Equipment—Balance
Bond Interest Accrued
Deficit under Guaranty of Interest on Koote¬
nay Ry. & Nav. Co. s Debenture Stock
Outstanding
„
.$23,113,800 42
Deductions Jrom Gross Corporate Income—
Rentals Paid.
on
Issued and
1,256,819 89
Gross Corporate Income.
Total Dividends
Capital Stock of the
Northern Ry. Co. issuable June 30 Great
Less—Held in Treasury unissued 1910.$210,000,000 00
18,500 00
Funded Debt.
401 45
Total Other Income
Deductions from
Income
Capital Stock.
Authorized
3,570,302 14
$693,235
109,048
76,182
377,952
in
Sundry Funds.
Fund
for Permanent Improvements and
Betterments
Amounts set aside to cover Depreciation of
$5,959,014 61
Insurance Funds
17,698,194 57
553,151 44
Equipment
72
55,061,205 83
2,154,515 37
now in service
Total
24,210,360 62
Total
Property of the Minneapolis Western
Ry. Co., the
Capital Stock of which Is owned by
the Great
ern
Ry. Co.:
Cost of Road
Cost of Equipment
entire
North¬
$739,850
$314,374,248 92
10
12,317 38
Total
In Other
Railways whose lines form a part of
the Great Northern
System, represented by their
tal Stock, Bonds, if
Capi¬
any, and amounts advanced
for
construction purposes:
Duluth Terminal Ry. Co
$400,000
00
Iowa & Great Northern
Ry. Co. (owning
the entire Capital Stock of
the Union
Terminal Co. of Sioux City, la.)
1,586,371 62
Manitoba Great Northern Ry. Co
2,040,000 00
Investments
Brandon Saskatchewan & Hudson’s
Bay
Ry. Co
Crow’s Nest Southern Ry. Co
Nelson & Fort
Sheppard Ry. Co
Red Mountain Ry. Co
Vancouver Victoria & Eastern
Ry. & '
Navigation
Co
New Westminster Southern
Ry. Co
2,120,000
4,180,000
2,074,027
305,619
752,167 48
In
Cost of Additions and Improvements made
to property of the Great Northern
Ry Co.
and paid for from “Fund for
Permanent
Improvements and Betterments”
$22,253,771 44
St. P. M. & M. Ry. Consolidated
Bonds retired since NovemberMortgage
1 1907
through operation of the Sinking Fund..
384,000 00
Profit and Loss
34,997,560 09
57,€35,331 53
-
Total
$526,817,516 83
RESOURCES AND DISBURSEMENTS YEAR
ENDED JUNE 30 1910.
RESOURGES.
00
00
60
07
Cash
on
hand and in banks June 30 1909
$9,144,105
Receipts:
Net Corporate Income
Securities Issued:
‘
Capital Stock
Reduction in Amount of Bonds Held in Co.’s
Treasury:
St. P. M. & M. Ry. Co.’s Pacific
Extension
Bonds sold, as per a foregoing page, Par
£2,000,000; Cost-.-..$10,000,000 00
Butte Anaconda & Pacific Ry. Bonds
sold,
Par $1,000,000; Cost
900,000 00
Bond Redeemed, carried at
100
•
15,645,897
282,061
69
17
---
Union
Depot and Terminal
Companies,
represented by Cost of their
Stocks, Bonds and Ad¬
vances for Construction
Purposes:
St. Paul Union
Depot Co
$103,600 00
Minnesota Transfer Ry. Co
187,073 39
Lake Superior Terminal &
Transfer Ry.
co.
142,216 82
28,633,977
15
Less.
432,890 21
Railway Property
Bonds
acquired
year, cost
Total.
Total
Balance.
Total
Total...
Investments
$344,193,283
76
Union
Depot
Companies
above listed
Bonds, not Including Bonds of the Rail¬ $14,247,038 04
way and Union Depot
Companies
above listed:
Issued by Companies whose
properties
are now owned
by the Great North¬
ern Ry. Co. and
which are shown,
contra par—$2,630,000; Cost
Issued by Other
Companies.
2,594,567 88
2,228,538 33
Total
-
Unpaid
Unpaid
Unpaid
Unpaid
10,262,048 30
Vouchers
Pay Rolls
Coupons
Dividends
Other Accounts Payable (new account)
$702,315 56
809,194 54
257,889 51
—
2,128 00
851,823 72
2.623.351 33
914,624 34
312,254 09
Fund
19,070,144 25
other than
named
Net Reduction
Current Liabilities Increased:
Sundry Reserve Funds Increased:
Other Investments.
*'!
11,250 00
$28,138 33
Transferred from other accounts 600,000 00
Difference between par value and
cost of Columbia & Red Moun¬
tain Ry. Bonds canceled
9,814 37
Balances Due Affiliated Companies, Increased.
Accrued Liabilities Not Due, Increased:
Accrued Taxes not due
$375,315 76
Less, Decrease in amount of Bond Interest
Accrued, not due..
63,061 67
Total
Miscellaneous Investments and
Advances to
Railway and Union Depot Companies
above
17,791,824 42
637,952 70
Cost of Securities in hands of Trustee
of N. P.-G. N.
Joint
C. B. & Q. Bonds
(1,076,135 Shares of
Capital Stock—Great Northern Ry. Co. C. B. & Q. RR.
one-half
owner)
Other Securities Owned:
109,114,809 76
Stocks, not including Stocks of the Rail¬
and
12
$10,900,001 00
during
Securities Owned.
way
00
45
31
89
43
86
Total
Value of Material and Fuel on
$14,877,662 97
hand
Excess of Other
7,638,305 33
Working
Assets and Deferred Debit Items
over Other
Working Liabilities and Deferred Credit Items
549,676 12
Total.
$526,817,516 83
$21,856,980 53
Other Income:
Rents Received
Dividends on Stocks Owned
Interest on Bonds Owned
General Interest
2,127,354 35
3,168.630
124,327
94,077
3,296
74,256
2,634,362
Advanced Charges
$25,427,282 67
Operating Income
41
$6,651,357 68
Other Accounts Receivable
240,008 80
Total Net Revenue
Taxes Accrued
Total
Cash
BUls Receivable.
Due from Agents
Due from U. S. Post
Office Department..
Due from U. S.
Transportation
Due from Canadian Post Office
Department
$324,678 16
—97,063 37
16,430 71
—4,036 70
_
$503,751,872
Current Assets.
$25,187,273 87
Sleeping and Parlor Cars
Dining and Buffet Cars, Loss
Eating Houses, Restaurants, &c
Minneapolis Grain Elevator, Loss
LXXXXI.
Brought forward
$64,465,369 87
39,278,096 00
Operating Expenses
IVOL.
for Permanent Improvements and
Betterments (not including amount trans¬
ferred to Fund from Income or
Expendi¬
tures charged against Fund
during year)
Equipment Depreciation Funds
Insurance Funds—
—
31,373,634 64
-...$503,751,872
41
$195,616 64
1,646,975 50
42,452 30
1,885,044 44
$42,944,502 04
OOT. 22
THE CHRONICLE
1910.]
Brought forward
Value of Material, Fuel, Ac., on Hand, Increased
Current Assets Increased:
Due from Agents
5980,162
Due from Canadian Post Office Dept
380
Advanced Charges
5,911
Other Accounts Receivable (new account).
2,634,362
D13B VBSBMENTS.
Expended for Railway Property:
Cost of Construction, after deducting ex¬
penditures of prior years transferred to
52,639,798 89
“Advances”
Cost of Additions and Betterments
4,555,244 49
57,195,043 38
Less, Credit on account of track
removed last year
And for difference between par
value and cost of Columbia
& Red Mountain Ry. Bonds.
Increase iri ‘‘Cost of Road”
Cost of Equipment
Less, Cost of Equipment Out of
Service
And adjustment
57.174,258 76
47
04
88
2,300,355 44
4,751 27
Increase In “Cost of Equipment”
Cost of Additions to and improvements
Elevators
688,918 53
Controlled Canadian Companies, net
Less, Decrease In amount Invested In
3.699.251 94
at Superior, Wls.,
Total expenditures for Railway Property
Investment In Controlled Companies Whose
Lines Form a Part of the Railway System,
Increased:
Amer¬
Owned
150,358 14
511.023,868 84
5074,008 91
Ry. Co_
-542.944,502 04
SINKING FUND ST. PAUL MINNEAPOLIS & MANITOBA RAILWAY
COMPANY’S CONSOLIDATED MORTGAGE BONDS.
Fiscal
7,103 52
of Sundry Companies other than
Controlled Companies or Union Depot and Term’l
Miscellaneous Investments and Advances Made:
Cost of S. P. & S. Connection at Spokane,
753,663 09
Cos..
Year
Ended
June
1910.
30
By Balance to credit of Sinking Fund as per page 40 of last
$214,186 26
year’s report
From Land Department, as per Land Commissioner’s report..
94,626 16
Revenue Todd County Lands
112 80
$308,925 22
Total Credits.
Debits—
5726,177 02
Bonds purchased
Investment In Midland Ry. of Manitoba,
STATISTICS OF FREIGHT AND
hand and In banks June 30 1910
Credits—
*
1,253,043 06
3,189,219 49
Winnipeg Terminal Properties
Sundry other Investments and advances...
on
Total
54.087 14
2,410 38
Minnesota Transfer
-
922,988 36
6,651,357 68
securities sold
109,818 30
564,190 61
Wash
that have been the subject of litigation, and loss
years,
Cash
Depot and Terminal
Companies Increased:
Ry. Co
LakeSuperlor Terminal & Transfer
Net Amount
1,320,461 50
Other Assets Increased:
“Excess of Other Working Assets and Deferred Debit Items
over Other Working Liabilities and Deferred Credit
Items” (new account)
549,676 12
Dividends Paid
14,698,663 00Profit and Loss:
Net Debit during the year, made up principally of payments
of Minnesota and State of Washington Taxes of previous
on
Companies
Securltles Acquired:
Net Increase In Stocks
05
5084,167 26
———
Net Increase—
Investment In Union
Bills Receivable
5736,974
Due from U. S. Post Office
Dept
17,108
Due from U. S. Transporta’n
36,877
Due from Other Companies
and Individuals
1,509,395
20.784 62
54,388,170 47
In accounts
between
13
14
81
86
Less, Decrease In amounts:
9,814 37
caused by transfer
—$17,517,265 6$
1,284.089 7#
53,620.816 94
510,970 25
classes
ican
1105
306,000 00
by the Trustee, at par, and canceled
52,925 22
Balance, applicable for redemption of bonds
5.168,439 57
COMPARED
PASSENGER TRAFFIC ON SYSTEM FOR THE YEAR ENDED JUNE 30 1910,
PREVIOUS YEAR.
WITH
Increase or Decrease.
'
1909.
1910.
DESCRIPTION.
Per Cent.
Amount.
lncr ease.
FREIGHT TRAFFIC—
Freight Train Miles
Mixed Train Miles
_
10,171,781
8,834,852
1,336,929
783,000
808,617
25,617
10,954,781
9,643,469
1,311,312
354,651
259,153
15.1324
De cr ease.
3.1680
lncr ease.
Total
Mileage of Locomotives employed In "helping” Freight and Mixed Trains
Percentage of “helping” to Revenue Train Mile
r
3.2374
13.5979
95,498
7.2826
2.6873
36.8500
280,159,895
100,168,020
10,944,692
244,224,742
83,548,849
9,212;053
35,935,153
16,619,171
1,732,639
14.7140
19.8916
18.8084
391,272,607
336,985,644
54,286,963
16.1096
Company
23,224,972
3,724,295
18,097,264
3,216,863
5,127,708
507,432
28.3342
15.7741
Total
26,949,267
21,314,127
5,635,140
26.4385
836,814,615
872,387,610
$7,210,922.93
17.2825
15.2456
18.2718
.78
2.2324
3.2434
2.2395
Loaded Freight Car Miles
Empty Freight Car Miles
Caboose Car Miles
Total
Tons of Freight Carried—
Revenue
Tons of Revenue Freight Carried One Mile
Total Tons Carried One Mile (Revenue and Company Freight)
1
Freight Revenue
Averages—
All Freight Cars per Train Mile
Tons Revenue Freight per Train Mile
Tons Revenue Freight per Loaded Car Mile
Tons Revenue Freight Carried One Mile per
_
...
I
_
_
_
_
-
-
_
__
Mile of Road
Distance Haul of One Ton—Miles
Freight Revenue per Train Mile
Freight Revenue per Mile of Road
Revenue per Ton *Mlle—-Cents
_
..........
_
_
_
_
35.72
518.384
20.270
4,841,973,201
5,722,228,106
$39,464,810.65
34.94
502.099
19.826
16.285
.444
97,735
13.7418
Deer ease.
23.04
8.6115
lncr ease.
711,222
808,957
244.51
267.55
$4.26
$6,649.07
$5,796.86
$0.17
$4.09
$852.21
.0068
.8151
.8219
4.1565
14.7012
.8343
_
PASSENGER TRAFFIC—
Passenger Train Miles
5,678,787,816
6,594,615,716
$46,675,733.58
_
Mixed Train Miles
29.0284
2,400,801
10,671,315
8,270,514
783,000
808,617
25,617
11,454,315
9,079,131
2,375,184
26.1609
152,884
99,502
53,382
53.6492
-
Dec rease.
3.1680
lncr ease.
Total
-
1.4327
Passengers Carried
Passengers Carried One Mile
Passenger Revenue
Passenger Service Train Revenue
Averages—
Passertgf“rs Carried One Mile per Mile of Road
8,343,557
649,317,544
$14,311,800 07
17,025,682 08
_
_
Distance
Carried
_
7,195,386
490,393,926
$10,977,948 22
13,552,352 90
72,032
92,497
_
Miles
1.2027
77.823
68.154
2.204
2.239
2.2475
1,148,171
158,923,618
$3,333,851 85
3,473,329 18
20.465
9.669
15.9570
32.4073
30.3686
25.6290
28.4110
14.1870
Deer ease.
Revenue per Passenger per M|]e—Cents
.035
1.5632
lncr ease.
$2,425 37
Passenger Service Train Revenue per Train Mile
...........
1.486
51,990 66
$434 71
21.8375
Deer ease.
.007
1.493
.4689
\
TOTAL TRAFFIC—
Revenue Train Miles:
Freight
Passenger
Mixed
Total
Operating Expenses
Averages—
_
_
15.1324
29.0284
10,171,781
10,671,315
8,834,852
8,270,514
1,336,929
2,400,801
^783,000
808,617
25,617
30,628
12,147
18,481
152.1446
21,656,724
17,926,130
3,730.594
20.8109
$53,460,461 98
32,553,487 22
20,906,974 76
$10,742,005 39
6,724,608 78
4,017,396 61
226,982 49
21,133,957 25
4,053,316 62
20.0934
20.6571
19.2156
15.8250
19.1792
$64,202,467
39,278,096
24,924,371
262,902
25,187,273
Deer ease.
3.1680
lncr ease.
37
00
37
50
87
2.965
1.814
1.151
.012
1.163
2.982
1.816
1.166
.013
1.179
35,920 01
Deer ease.
.017
.5701
.002
.1101
.015
1.2864
.001
7.692$
.016
1.8571
.
THE
sft'ATfettEirrs
CHRONICLE
[VOL.
OP bonds and stocks
outstanding inthe hands op the public for which
the great northern
RAILWAY COMPANY IS RESPONSIBLE. DIRECTLY. OR UNDER
GUARANTY.
.
,
,
In Hands of
BONDS.
Public
Assumed by Great NorthJuly 1 1909.
ern Railway Co.
Due.
St. P. M. & M. By. CO.—
$3,368,000 00 2dM. 6% (matured) 1909
3,036,000 00 Dakota Ext. 6%___1910
13,344,000 00 Consol. Mtge. 6%-.1933
21,220,000 00 Consol. M. 4 M%-~ 1933
2,621,000 00 Consol. Mtge. 4%-.1933
10.185,000 00 Montana Ext. 4%--1933
19,393,939 39 PaclflcExt.4%
1940
In Hands
Annual
Charges Paid
1909-1910.
o)
Public
July 1 1910.
.
^
$11,000
2.885,000
15,344,000
21,220.000
5,798,000
10,185,000
29,090.909
00
00
00
00
00
In Hands
Public
$50,520 00
$500,000 00
180.399 84
800,640 00
954,900 00
161,077 78
407.400 00
938,956 22
00
09
of
July 1 1909.
$100,018,939
'
$309,989,189
3,000 00
9,695,000 00
Montana Central By. Co.—
First Mtge. 6%
1937
First Mtge. 5%
1937
First Mtge. 5%
39 Total
Bonds
—
1911
Spok. Falls & Nor. Ry. Co.—
First Mtge. 6%
1939
$500,000 00
.
Annual
Charges Paid
1909-1910.
$25,000 00
Railway
Property outstanding In
on
Hands of Public.
stock
00 Issued
$109,385,909 09
$4,823,183 84
209,081,500 00
14.698,663 00
by Great Northern
39 Total Bonds and
Stocks..$319,367,409 09 $19,521,846 84
3,625,000 00
181,250 00
Total Bonds and Stock, shown
above
$319,367,409 09
Mileage of Main Tracks In System, Including second,
third,
fourth, fifth and sixth main tracks, covered
2,150,000 00
650,000 00
129,000 00
32,500 00
229,000 00
13,740 00
by the above
capitalization
1922
1922
July 1 1910.
,
360,000 00
200,000 00
By. Co.—
229,000 00
Minnedp. West.By.Co.—
of
Public
..
Northern Ry. Co.— Due.
„
the amount
Co. of New
the Chicago
WiUmar A Sioux Falls
First Mtge. 6%
First Mtge. 5%
Prin.ahdlnt.Guar.by Or.
,
In addition to the bonds above
Pacific Companies have Issued theirlisted, the Great Northern and Northern
joint C. B. & Q. Collateral 4% bonds to
ofA^lS,227,000, secured by deposit with the Standard Trust
York, as Trustee, of 1,076,135 shares of the Capital Stock of
Burlington & Quincy Railroad Company.
387,800 00
6,000,000 00
4,000,000 00
3,625,000 00 First Mtge. 5%.. 1938
Minneapolis Union Ry.—
2,150.000 00
650,000 00
In Hands
Railway Co.-
Eastern By. of Minn.—
First Dlv. 1st Mtge.
5% (matured)
1908
00
Northern
Division
First Mtge. 4%-.1948
3,000,000 00
4,000,000 00
BONDS.
,.
209,970,250
3,000 00
9,695,000
LXXXXI.
Total amount of Bonds
Assumed by Great
Northern Ry. Co$108,885,909 09
Bonds and Stock per Mile of Total Main
Track:
Bonds
$15,266 46
Stock.
29,306 11
Total
Mileage of Main Tracks covered by bonds In the hands of the
public
Bonded Debt outstanding In the hands
of the public, per
Mile of Main Track covered
thereby
$4,798,183 84
7,165 11
.
$44,572 57
4,924 57
$22,212 27
THE PACIFIC COAST COMPANY.
EXTRACTS FROM THE REPORT FOR THE
YEAR ENDING JUNE 30 1910.
New York, September 15 1910.
of the Pacific Coast Company:
The following report of the business of your
Company and
operations of its subsidiary companies for the fiscal year
ending June 30 1910 is respectfully submitted:
There has been no change in Funded Debt or
Capital.
I present herewith report of your Vice-President and Gen■grgt Manager at Seattle, giving details of the operations of the
subsidiary companies and of this company. In connection
The
To the Stockholders
with this report will be found a condensed
general balance
sheet of this Company and subsidiaries, and statistical in¬
formation furnished by our General Auditor at Seattle.
From the statistics furnished, it appears that in
comparison
With last year the earnings of all
subsidiary companies, to¬
gether with the rentals and receipts of the Pacific Coast Com¬
pany for the year, are as follows:
Gross earnings (Increase)
expenses (Increase)
Net earnings (Increase)
$1,322,641 07
Operating
The net
769,651 49
552,989 58
earnings of the Pacific Coast Steamship Company
increased $202,146 64. The net earnings of
Coast Railway Company increased $17,571 41.
The net
the
Pacific
earnings of the Columbia & Puget Sound Railroad
Company decreased $22,796 23.
The net earnings of the Pacific Coast Coal
creased $309,769 63.
As indicated by
Company in¬
last annhal report, business conditions
your Company.
The
exposition at Seattle added materially to receipts, and earn¬
ings for the fiscal year have been satisfactory.
From present indications reasonable returns
may be ex¬
pected for the coming year, although the business outlook
is not as
promising as last season.
,
H. W.
CANNON,
REPORT OF
VICE-PRESIDENT AND GENERAL MGR.
Seattle, Wash., September 1 1910.Results for the year have been
very
All
subsidiary companies, with the exception satisfactory.
of the Columbia
& Puget Sound Railroad
Company, show substantial in¬
V
creases
in gross and net earnings.
Gtoss earnings (Increase).
Operating expenses (Increase)
$768,806 37
‘there
566 659 73
I.IIIIIIIIIII 202il46
64
expended for repairs to the fleet and
charged
to operating expenses
$315,530 51, as against $271,236 50.
Ordinary repairs and renewals cost $175,830 67 and ex¬
traordinary repairs $139,699 84.
^ The cost of repairs increased
on account of
extensive scaling on a number ofprincipally
the steamers.
The fleet
is now in excellent
physical condition, but additional scaling
,
was
will be necessary.
COLUMBIA & PUGET
Gross earnings (Increase)...
SOUND RAILROAD.
Operating expenses (Increase)
Net.eamings (decrease)
^There
$2,608 20
'25
404 43
I.HI.11122^796 23
charged to “operating expenses” and written
depreciation of equipment $47,116 08 this year,
against $45,316 10 last year.
Operating expenses increased partly
ost of labor and
as
ii and
'
.
was
off to cover
material; partly
fastenings between
on account of
higher
on account of renewal of
Black River and
Maple Valley;
creased cost of maintenance of
and repairs of
equipment
washouts along Cedar River
Thirteen and one-half miles of main Valley last winter.
track
ifar^a d_Maple
Valley>as
...$31,812 03
(Increase)
Net earnings (Increase)
’
expenses
14,240 62
17,571 41
The increase in gross
earnings is partly due to the Guada¬
lupe and Cat Canon extensions, recently completed, and
partly to the natural growth of the population served
by
this line.
Grain warehouses show an increase of 21 per cent in
gross
and 40 per cent in net
earnings.
Results of operation of electric line between
Santa Maria
and Guadalupe have been
,
very satisfactory.
leaves the main line near Santa
Maria, was extended a distance of 5^ miles to a new oil field
which is being developed at the mouth of Cat
Canon.
Sev¬
eral very productive wells have been driven
and the exten¬
sion is doing a good business.
.
The
Suey Branch, which
PACIFIC COAST COAL COMPANY.
COAL DEPARTMENT.
Gross earnings (Increase),
Operating
expenses
(Increase)
Net earnings (Increase)
The total output of mines
tons,
an
during the
increase of 99,857 tons
compared with previous
as
year.
The total amount of coal sold at all
From Company’s mines, tons
Other domestic coal, tons..
Foreign coal, tons
$463,570 20
178,103 07
285,467 13
year was 759,978
depots
..i
was as
follows:
'..717,186
,
20,846
114,495
..
Total tons...
increase of 118,442 tons over
previous year.
882,527
All sales depots show substantial
gains in gross and net
earnings for the year.
An agency was established at
Tacoma, Washington, in
September 1909 and a good business is being developed
there.
The cost of coal- at Companj' mines increased
again this
year on account of increased cost of labor and material and
.
depth of mines. Decreased selling cost and a
slightly increased price enabled the Company to maintain
a reasonable
profit per ton.
There were purchased 1,138.49 acres of coal land
adjoining
the Franklin field on the south.
A new mine is
being
opened
at Franklin to develop
this property, which is expected to
become one of the Company^ largest
producers.
Several faults which developed in the new seam in South
Prairie mine have been solved.
This, together with the new
mines at Franklin and Black Diamond, will soon enable the
Company to materially increase its output should the demand
for coal
,
increase.
Twenty
RAIL LINES.
t
PACIFIC COAST RAILWAY.
Gross earnings (Increase)
Operating
increased
PACIFIC COAST STEAMSHIP
COMPANY.
Net earnings (Increase)
coal wharf at Seattle
(shown in list of improve¬
built for and is rented to the Pacific Coast
Coal
Additional team tracks at Seattle were
constructed to pro¬
vide better facilities and accommodate
increased business.
—an
President and Chairman of the Board.
was
Company.
our
improved in the country served by
new
ments)
re-laid with
between Black
85-pound
steeL *
new houses have been built and ten more have been
started at Burnett, to enable the
Company's employees to
live near the mine instead of in adjacent towns.
Still
more
houses will be necessary at that, point.
Two barges were purchased at San
Francisco for the
handling of steam coal. This was necessary on account of
limited bunker capacity and to save the cost of
handling
from ship to shore and from shore to
barge.
LUMBER DEPARTMENT.
Lumber business shows
a
previous
year, as follows:
Gross earnings (Increase)...
Operating expenses (Increase)
gratifying improvement
—
Net earnings (Increase)...
[Tables of comparative statistics
Annual Reports.]
...
are
given
r
on a
over
$25,873 64
1,571 14
24,302 50
preceding page under
OOT. 22
THE CHRONICLE
1910.]
COTTON.
fflue Commimal gTimeg.
Friday Night, October 21 1910.
THE MOVEMENT OF THE CROP as indicated
by our
COMMERCIAL EPITOME.
telegrams from the South to-night is given below. For the
week ending this evening, the total
Friday Nighty Oct. 21 1910.
receipts have reached
The undertone of American trade is gradually improving, 451,952 bales, against
400,089 bales last week and 349,502
although there is no marked increase in transactions. There bales the previous week, making the total receipts since
is apparently less apprehension in regard to political agita¬
Sept. 1 1910 2,128,451 bales, against 2,406,810 bales
tion.
Crops are bountiful, the financial situation has im¬ for the same period of 1909, showing a decrease since Sept. 1
proved, and there is apparently a widespread conviction 1910 of 278,359 bales.
that American trade has seen its worst,
ency
and that the tend¬
a better state of things.
the spot has been quiet and
is"towards
Receipts at—
irregular. Prime
has latterly risen, small sales having been made at 13.50c.
Other grades have been steady or easier.
Middle Western
12.75c. and City steam 12>^c. Refined lard has ruled steady,
with trade quiet.
Continent 13.20c., South America 14c.
and Brazil in kegs 15c.
The speculation in lard futures here
has been extremely dull at easier prices.
At the West the
speculation has been active with quotations irregular. Oc¬
tober has been strong at times, owing to brisk covering of
LARD
on
Galveston
Port Arthur
Texas City, Ac_
New Orleans
Mobile
Pensacola
10.78
10.75
10.10
10.27
May delivery
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
November delivery
January delivery
May delivery
Mon.
Tucs.
10.85
10.20
Wed.
Thurs.
Fri.
11.77 J* 11.72 H 11.70
11.57H 11.62H 11.55
10.67** 10.60
10.62 H 10.45
10.42 H 10.37 X
9.85
9.85
10.07** 10.07J* 9.90
-10.15
PORK on the spot has been easier, owing to a weaker
market of late for live hogs and dulness of trade.
Mess
$20 50@$21, clear $21 75@$22 75 and family $25.
Beef
has been more active, with prices steady. Mess $15 50@$16,
packet $17@$17 50, family $19 50@$20 and extra India
mess $30 50.
Cut meats have been dull and steady; pickled
hams, regular, 14@15c.; pickled bellies, clear, 16@18c.;
Sickled
ribsStearines
15^@17c.
hasoleo,
been 12J4@12J4c.,
quiet and steady;
ity 7%e.
dull Tallow
and easy;
and
lard 1314c. Butter has advanced with trade
dull; cream¬
extras 30}^c. Cheese quiet and easier; stocks increasing;
State, whole milk, colored, average fancy, 15c. Eggs quiet
and steady; Western firsts 26@27e.
OIL.—Linseed has been firm, owing to an upward ten¬
dency of seed; trade quiet; supplies light; City, raw, Ameri¬
can seed, 97@98c.; boiled 98@99c.;
Calcutta, raw, $1 03.
Cottonseed has weakened; winter 7.25@10c.; summer white
7.80@10c. Lard has been quiet and firm; stocks small;
ery
Erimequiet
$1 02@$1
05; No.Cochin
1 extrall^c.;
63@65c.
Cocoanut
has
and steady;
Ceylon
9^@9J^c.
sen
Wed.
25,103
44,544
29,853
6,947
9,241
1,892
10,892
2,542
15,516
13,843
5,000
5,877
Georgetown
Wilmington
21,632 166,263
26,781
8,320
15,420
19,795
51,333
15,046
16,557
310
12,966
4,033
9,67C
1,921
7,929
2,670
2,627
3,707
.
578
Total.
9,784
-
389
Fri.
Thurs.
3,707
128
1,406
7,352
14,719
3,153
80,953
1,311
5,488
857
21,816
2,086
5,628
779
1,833
6,42 4
26,007
328
328
75
8,153
75
7,106
4,521
Philadelphia
11.00
10.37
Tues.
4,250
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
November delivery
12.10
12.05
11.90
11.99
12.17
12.00
10.95
10.45
_
Savannah
Brunswick
Charleston
Norfolk
11.05
10.54
Mon.
18,350
15,420
3,064
5,281
3,394
Jacksonville, &c.
shorts.
Other months have on the whole been easier, owing
to the downward tendency of live-hog prices, due to expec¬
tations of a larger movement to market in the near future.
January delivery
Sat.
4,836
7,555
N’port News, Ac
New York
Boston
Baltimore
50
2
__
75
9,367
7,658
5,790
37,576
25
100
94
206
402
3,597
3,597
■
—
Totals this week.
—
77,343
80,897
The following shows
since Sept. 1 1910, and
last year:
-----
—
95,768
67,014
—
56,7891
74,141 451,952
the week’s total receipts, the total
the stocks to-night, compared with
1910.
1909.
Stock,
Receipts to
Oct. 21.
Since Sep
1 1910.
This
week.
Galveston
166,263
Port Arthur.
15,420
Texas City, &c._
19,795
New Orleans
51,333
Mobile
PensacolaSavannah
Brunswick
Charleston
15,046
3,707
1,406
80;953
8,153
21,816
_
1909.
201,19;
199,124
73,074
150,684
2,439
42,962
31,995
—
—
135,363
2,532
221,354
41,484
41,5$7
14,298
75
160
29
254
141,180
26,611
52,354
24,484
42,867
37,576
163,899
158,805
1,465
1,081
75,751
1,157
6,474
86,187
New York
Boston
Baltimore
__
111,278
37,115
328
810
75
402
1,295
1,476
8,543
289
177
3,597
Philadelphia
67
558
2,589
5,850
•/L.
—
31,451
_
_
_
_
2,3*5
4,125
257
5,339
3,5$9
451,952 2,128,451 450.899 2,406,810
651.20?.
842.972
—
Total
793,682
24,700
9,976
248,154
2,439
74,859
26,222
5,977
666,256
110,024
112,349
1910.
26,007
Georgetown
Wilmington
Norfolk
Newport News,&c
Since Sep
1 1909.
955,926 105,307
22,277 17,653
48,084
1,800
154,548 74,897
2,439
55,869 14,047
3,707 12,712
3,031
1,275
478,356 115,108
46,901 22,700
95,010 16,084
Gulfport
Jacksonville, Ac.
This
week.
—
—
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Olive has been
quiet and steady at 90@95c. Corn quiet and
Cod has been active and firmer: do¬
Newfoundland 44@47c.
COFFEE on the spot has been steady, with a small jobbing
trade.
Rio No. 7, 10%@llc., and Santos No. 4, 11
ll^c. West India growths have been quiet and steady;
fair to good Cucuta 12%@12%c.
The speculation in future
contracts has been more active at a decline in prices.
The
chief depressing factors have been a fall in the European mar¬
kets, cheaper firm offers from Brazil, dulness on the spot and
rather more cheerful crop reports from Brazil.
Europe has
sold here, there has been scattered liquidation for local ac¬
count, spot interests have sold at times, and support has been
lacking much of the time, though occasional rallies have
occurred on covering of shorts.
Closing prices as follows:
easy at 7.10@7.15c.
mestic 42@44c. and
October
8.45c. January -.8.55c. April
November .8.45c. February _8.57c. May
December .8.50c. March
8.59c. June
SUGAR.—Raw has been
8.61c. July
8.63c. August
-
8.64c.
8.66c.
8.67c.
September 8.68c.
quiet and easy.
Galveston
___
Pt. Arthur, Ac.
New Orleans-
Mobile
Savannah
Brunswick—
Charleston, Ac
—
Wilm’g‘t*n, Ac
Norfolk
N’port N., Ac
Cuba indicate considerable damage to the crop by the recent
hurricane. Sumatra has been fairly active and firm.
COPPER has been quiet and irregular; lake 12J^@13c.;
electrolytic 12.60@12.65c. and casting 12%&12y£c. Lead
has been quiet and easier at 4.40@4.45c.
Spelter has been
quiet and steady at 5.50@5.60c. Tin has been quiet and
easy; spot 37.30c.
Iron has been steady, with a larger de¬
mand from stove and pipe works.
No. 1 Northern $15 75@
$16; No. 2 Southern! $15 25©$15 75. Building material
has been firm and fairly active.
Steel billets havebeeq weak.
1910.
1909.
1908.
166,263
35,215
51,333
15,046
80,953
8,153
21,891
26,007
37,576
105,307
19,453
14,047
156,893
11,598
68,708
15,734
115,108
80,691
22,700
19,259
9,482
14,182
25,055
25,151
ll4
12,013
450,899
419,621
74.897
16,113
26,611
37,115
328
Alf others
9,187
451,952
Total this wk-
289
,
1905.
1906.
1907.
172,991
66,766
149
8,386
58,842
14,761
91,378
4,618
91,703
9.389
88,363
47,607
9,991
58,067
9,641
8,623
25,701
31,392
15.637
34,723
27,147
169
315,986
224153
"V.Eeo
169
8,749
454,749
292,460
•
1,796
tig
18,359
2,128^451 2,406,810 2,154,454 1,564,437 2,158,482 2,227.763
The exports for the week ending this evening reach a total
of 305,080 bales, of which 142,788 were to Great Britain,
17,650 to France and 144,642 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910.
Since Sept. 1-
Centrifugal,
96-degrees test, 3.85c.; muscovado, 89-degrees test, 3.35c.,
and molasses, 89-degrees test, 3.10c.
Refined lias been dull
and easier.
Granulated 4.80@4.85c.
Teas have been in fair
demand and generally steady. Spices moderately active and
firm.
Wool quiet and firmer.
Hops firm and more active.
PETROLEUM.—Refined has been quiet, though some¬
what more active than recently.
Barrels 7.40c., bulk 3.90c.
and cases 8.90c.
Gasoline has been firm and in good de¬
mand; 86-degrees, in 100-galloh drums, 18^c.; drums $8 50
extra.
Naphtha has been fairly active and firm; 73@76degrees, in 100-gallon drums, 16%c;; drums $8 5Q extra.
Spirits of turpentine has been quiet and firmer at 80,V|@81c.
Rosin dull and easier; common to good strained $6 30@>$6 35.
TOBACCO.—A somewhat larger business has b<?en Re¬
ported in domestic leaf of late, reflecting the increase in the
cigar business recently noted. Sales, however, have as a
rule been limited to small lots.
Prices have been firm.
Havana has been more active and strong.
Reports from
Receipts at—
i
Week
1
Exports
from—
ending Oct. 21 1910.
Exported to—
Conti¬
i Great
Britain. Ffnce.
49.381
Galveston
Port Arthur
Texas City, Ac"
New Orleans.
Mobile
Pensacola
16,276
13,109
_
8,656
2.661
1 1910 to Oct. 21 1910.
Exported to—•
Great
1
Britain. France.
Total.
nent.
37,177 86,558
7,420 15,420
16,276
10,254 23,363
5,723
8,714
3,807
Fernandlna
Savannah
Brunswick....
From Sept.
3,807
304,748 78,417
8.000
39.984
2,487
58,821
2.991
2,029
3,807
Conti¬
nent.
Total.
238,947
14,277
1,863
34,428
622,112
5,949*
22,5*7
41.847
95,736
10,969
3#807
'fv*.
_____
..
8.912 3,096 34,636 46,644
10,700
16,¥50' 21,450
17,200 17,200
I6,ii7
10,420 26,537
....
Charleston
•
Wilmington...
Norfolk
■
■
-
1
_
Newport News.
•_
68,089 22,466
18,048
6.000
44.845
i
—.
3.870 16,129
173
7,318
6.519
6*519
8,645
—
-
-
Portland, Ore.
Pembina
'500
'566
....
----
39.652,
»
.
177,946
33.614
84i497
"21
21
...........
64,918
2.198
19,375
1,400
-
«
_
_
219,851
26*963
24,963
16,202
_
3,990
2.950
—
—
Tacoma
3,996
2,950'
500
m
....
Detroit-
—
-
----
142,78817,660144.642305.080
Total
.123,35665,876120,131309,362
—'
-
_
Seattle
87.394
15.566
23,200
-»
116,296 38,137
24.765
850
4.738
-1
14.802
.
San Francisco.*
-
«-
Portland. Me..
Total 1909...
v:
-
_
New York....
8,696 3.563
Boston
£7,145
Baltimore
8.645
Philadelphia..
5.666
■
-
'
■
■
----
706,972168,347| 650.6281,421,947
652,180301,450! 681,5731,535,303.
In addition to above exports, our
II
y,.',
I
telegrams to-night al|P
give iis the following apibpnts of cotton on shipboard, not
cleared, at the ports named. We add similar figures MrNew Yorfc.
1108
THE
On
Oct. 21 at—
Great
Shipboard, Not Cleared tor—
|
Britain. France
New Orleans..
Galveston*
Savannah
.___
Charleston
Mobile
Norfolk
New York
Other ports
6,855
52,917
8,400
3,000
5,678
CHRONICLE
Ger¬
many.
8,422
Other
Coast¬
Foreign
wise.
8,894
29,362
3,800
5,000
28,827
1,500
3,711
8,049
1,078
167
5',666
i",66o
366
10,000
l“,806
4,000
22,000
3,000
Total.
Stock.
00
N-
44,827
77,152
118,163
31,484
22,572
9,956
67,651
28,856
I
1
44,827
41,257
31,879
_
Speculation in
rather active at
69,523
78,664
83,969
16,560
33,771
53,968
27,781 250,541
26,915 285,423
28,200 272,438
■o
413,129
'CIS
as
a
weeks past the weather has been of a kind
greatly to promote
the growth of the crop.
Spot cotton of late has been less
active at some decline in prices.
Spinners at home and abroad
have seemingly been somewhat less inclined to
buy after
weeks of steady purchasing.
The receipts at the ports and
interior towns are beginning to increase. The
Liverpool
market has shown less vigor and of late the
spot sales there
have decreased.
Trade reports from Manchester have been
of a les$ stimulating kind.
The Bank of England rate of
discount has been raised to 5%, which is
something unusual,
while British consols, fdr some reason or other, have been
gradually declining during the last few months. The Na¬
tional Ginners’ Association, despite the
reported lateness of
the season, is said to put the
ginning up to Oct. 18 at 5,600,000 bales, against 5,530,000 for the same time last
year,
6,296,000 the year before and 4,420,000 three years ago,
when the crop was, roughly, 11,400,000 bales.
The South
has been selling freely, in
part, it is believed, against
actual cotton.
Liverpool, which was recently a good
buyer here, has latterly been selling. So have Wall Street
and Western houses.
Local operators have seized the oc¬
casion to depress quotations as much as
possible. The
idea is that, while a rally may be due after a recent
break of about 75 points, it is
likely to be short-lived if the
theory of not a few experienced people in the cotton trade
is correct, that the crop has been
considerably underestimated.
In any case the existing
relatively high price is believed to
discount a good deal that might be
argued as bullish in the
situation.
Yet there
depression is only
are
those who believe that the recent
passing phase in a season which is
destined to witness higher
quotations, coincident with a
gradual rise of American trade, increasing prospects of better
times in Lancashire and the
possibility that spinners will
buy on a larger scale than they did last year. The idea of
some is that
spinners’ stocks at home and abroad have
become depleted. The theory is also advanced that
stocks
a
of manufactured goods on both sides of the
Atlantic are not
at all burdensome.
In the meantime,
though
the recent
decline in raw cotton has
apparently
somewhat chilled
the trade in cotton goods, the
tendency is towards improve¬
ment.
Fall River’s recent sales have been
large, spinners
still show a disposition to
buy even if on a smaller scale
and frost is reported to have occurred
in Texas and Okla¬
homa.
The statistical position at home and abroad is
by
many considered anything but weak.
The bill-of-lading
dispute has been settled. To-day prices were irregular,
advancing early on the news of killing frost in Texas and
receding later on enormous selling, supposedly for very
prominent interests. Spot“ cotton here has been
quiet.
Middling uplands closed at 14.45c., a decline for the week of
45 points.
The official quotation for
middling upland cotton in the
New York market each day for the
past week has been:
Oct. 15 to Oct. 21—
Middling uplands
NEW YORK
1910. c
1909
1908
1907
1906
14.45
14.05
9.30
11.60
.11.00
.10.40
10.05
10.00
1905
1904
1903..
Sat.
Mon.
14.90
Tues.
14.80
Wed.
14.45
Thurs.
14.45
Fri.
14.45
14.45
QUOTAT ONS FOR
1902.C__.
1901
1900
1899
1898
1897
1896.
1895
__
-.
-.
__
__
_.
.
_.
8.70
8.38
9.75
7.38
5.50
6.19
7.94
8.62
1894.0...
1893
32 YEARS.
5.88
8.44
8.25
8.44
...10.25
...10.56
9.75
9.62
1892
1891
1890
1889
1888
1887
_.
...
...
...
...
1886.C
9.31
1885
1884
1883
1882
1881
1880
1879
9.81
9.88
Closed.
Futures
Market
Closed.
_
Monday
Tuesday
Wednesday
Thursday
_
Friday
Total...
ulet
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£2 CO
Ra: Clo Ra: Clo Rai Clo
June— July— Aug s
8i
to ■
1
to
CO
VISIBLE
SUPPLY OF COTTON
to-night, as
by cable and telegraph, is as follows. Foreign
well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete figures
for to-night (Friday), we add the item of
exports from the
United States, including in it the exports
of Friday only.
made up
stocks, as
October 21—
1910.
Stock at Liverpool..
Stock at London
Stock at Manchester
bales.
14,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
399,000
10,000
_
Egypt, Brazil,&c.,aflt.for Europe.
in Alexandria, Egypt
in Bombay, India
in U. S. ports
in U. S. interior towns
exports to-day
.
1909.
627,000
9,000
33,000
1908.
374,000
16,000
22,000
1907,
568,000
21,000
37,000
20,000
2,000
669,000
11,000
125,000
175,000
2,000
8,000
15,000
3,000
173,000
339,000
245,000
316,000
572,000 1,008,000
62,000
31,000
743,521
865,417
657,000
41,000
746,005
27,000
102,000
178,000
685,567
550,556
45,117
942,000
73,000
414,765
54,000
104,000
327,000
726,314
362,728
30,320
51,000
80,000
2,000
8,000
Total European stocks
India cotton afloat for Europe—
Amer. cotton afloat for Europe.
Stock
Stock
Stock
Stock
U. S.
379,000
6,000
58,000
104,000
206,000
651,202
390,627
16,498
36,000
98,000
100,000
842,972
474,240
52,398
*
412,000
20,000
114,000
70,000
4,000
13,000
14,000
10,000
18,000
129,000
102,000
4,000
11,000
18,000
34,000
626,000
Total visible supply
...2,
2,803,848 3,508,027 3,032,245 3,034,127
Of the above, totals of American and other
descriptions are as follows
American—
Liverpool stock
bales.
Manchester stock
Continental stock
American afloat for Europe.
U. S. port stocks
U. S. interior stocks
U. S. exports to-day
...
Total American
East Indian,
302,000
11,000
139,000
743,521
651,202
390,627
16,498
2
2,253,*48
Brazil, Ac.—
Liverpool stock
London stock
Manchester stock
Continental stock.
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock In Alexandria, Egypt..
Stock in Bombay, India
.
77,000
6,000
3,000
34,000
62,000
58,000
104,000
206,000
544,000
27,000
315,000
865,417
842,972
474,240
52,398
266,000
17,000
184,000
746,095
685,567
550,556
45,117
472,000
29,000
222,000
414,765
726,314
326,728
30,320
3,121,027 2,494,245 2,257,127
83,000
9,000
6,000
24,000
31,000
36,000
98,000
100,000
108,000
16,000
5,000
61,000
41,000
27,000
102,000
178,000
96,000
21,000
8,000
94,000
73,000
54,000
104,000
327,000
550,000
378,000
538,001
777,000
2,253,848 3,121,027 2,494.245 2,257,127
Middling Upland, Liverpool
7.98d.
7.37d.
5.04d.
6.19d.
Middling Upland, New York....
14.45c.
14.50c.
9.40c.
10.95c.
Egypt, Good Brown, Liverpool.. 13 l-16d. 10 ll-16d.
sy8d. 10 ll-16d.
Peruvian, Rough Good, Liverpool
10.50d.
8.75d.
8.15d.
12.00d.
Broach, Fine, Liverpool
7 ^d. 6-13-16d. 4 13-16d.
5J*d.
Tlnnevelly, Good, Liverpool
7Hd.
6Hd. 4 ll-16d.
5 9-16d.
,
Steady
dec., Easy
pts. dec.. Barely steady
Very steady.
Barely steady
Steady
reo
-p
2,803, 48 3,508,027 3,032,245 3,034,127
Sales ot Spot and Contract.
Spot.
Saturday.
001
Total East India, &c
MARKET AND SAL ES AT NEW YORK.
Spot Market
001
@|
@|
©|
@|
©|
©|
©1
00
005
00 05
Tp eo
N®
eON
.
a
Eossible
crop andbales
more about
12,000,000
and upward—peraps 13,000,000
at least
conceivable
figure. For
1
00
follows:
as
N eo
eo O
S»i-i
cotton for future delivery has continued
noteworthy decline in prices. The fail of
quotations was due largely to the fact that the weather was
for the most part favorable, and that the speculation for a
rise had been plainly overdone.
In these circumstances
heavy liquidation set in, partly, it is understood, for very
large operators. Certainly, persistent selling on a very lib¬
eral scale by certain people has had a
noticeably depressing
effect.
Large Southern operators are believed to have sold
heavily. Certain Southern interests usually well informed
incline to the belief that the crop has been under-estimated.
Spot people have, it is understood, sold January heavily.
There is less talk about 11,000,000 to 11,500,000 bales as a
I
N
1
^
Tp
^ 1
1
400,661
557,549
I
tH
TP
•
ece®
Total 1910.
91,850
Total 1909._ 104,816
Total 1908. i
74,422
LXXXXI
FUTURES.—The highest, lowest and closing prices at
New York the past week have been
Leaving
365 28,247
4,888 124,043
3.500 17,200
2,000 10,000
2.500
9,423
14,528 14,528
8,100
39,000
-
[jVOL.
Consum'n.
T.892
tract.
Total.
l",700 3",592
113
....
1,560
y_
3,570
Con¬
—
500
500
613
500
2,200
1,100
3,765
1,100
6,000
9,570
Continental imports for the past week have been
126,000
bales.
The above figures for 1910 show an increase over last week
of 380,172 bales, a loss of 704,179 bales from
decrease of 228,397 bales from 1908, and a loss of
bales from 1907.
1909, a
230,279
Oct. 22
THE CHRONICLE
1910.]
AT THE INTERIOR TOWNS the movement—that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
Week ending
October 21.
Galveston
New Orleans
Mobile
Savannah
Charleston
Wilmington
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Pock
110
Closing Quotations for Middling Cotton
on—
—
Sat'day.
14 %
14 %
Monday, Tuesday, Wed'day, Thursd'y, Friday,
14%
14%
14%
14%
14%
14%
14%
14%
14 7-16
14%
14%
14 9-16
15
15.15
14 13-16
14%
15
15.05
14 9-16
14 %
15
14%
14 %
14%
14%
14%
14%
14%
14%
14%
14%
14%
14%
14%
14%
14%
14 HI
14 % fi
14
14%
’
14
14
rm
14
14 5-16
gg
14%
14%
14%
14.70
14.70
14 %@ % 14 7-16
14%
14%
14%
14%
14
14
14
14
14
14
14
14%
14%
14%
14%
%
%
%
5-16
14%
B 14%
14%
tm 14%
fa*14%
m 14%
mux
14.70 ^14.70
14 5-161114 5-16
14%
14%
14%
NEW ORLEANS OPTION MARKET.—The
highest,
lowest and closing quotations for leading options in th eNew
Orleans cotton market for the past week have been as follows:
Sat'day,
67452
M
OJ
I
J
Oct. 15.
October—
Range
Closing
H*
£.
MC^Oi
t, i
November—
Ml-*!-**-*
M M 4*. 00 © O to to W *4 O i-*
h*
it^©MM00
Range
Closing
December—
^MH‘OMOtH»OiU0C01'J''l®N9l®W*O00MO»OOO®0'^O^
0*
Range
Closing
*-*
CflWMMi-*
oenuii^>4cn
!-»•-* M.
MM
© ^ >(>. m co m oe> to m <x> to
>1
t-»
O* en a» >U ©00 06 o 00 M
<»
wVj Cn so
M t\»
M
oo
MW*-*
ocnoaooocxofficnooo
Vj
O M CJ
MMMikMMM
January—
Range
Closing
February—
Range
o o» M o
OOOmOMOOMWmO>OOmOo^MMm{hM^h*OOOW*JMMWO>i4M
UMOlOMMMMOiitkOWOoM^OO'tiM^C'M^Ol^MOiUWM^O!®
0*
©*J
OHVI
OMM
to 4n-* i-* to
MmMmOo^MiU
Ni-enOCDUMNMONMeMNMO^eOO
to c*
!?3S
S'S'?
0>0,UUMCnOCIliUOU<-4
OUO)OOOOO>C0O>vl<CO3OH>MaoOi-‘OUCni^NatM»OOikolcnO<U
MOiflOOOOOOOONOOMiliOl^KKMi-iOOitkslOMOiOMMOOONOOOffl
60
M*
tfc.
l-»
a>wuo<o<u
o> •-» -vj
►-»« to© *.►-»© to to
moo>no*®omm
VlO* *.luoot->o
t-»
Range
Closing
00
in
►*
Range
Closing
►*
3
July—
Range
H>i^M®0)A®MM®«]UlOOMMMi-‘0']<^M009UMiU®CKiU®®M
H>M®OUUUMO®OOOG>iUOOiOMM«OOD®®«U®Me«]MO^
<k*J»OOtM®»0©©C»«CnMOiOO'Ji^OO»t-*otMCn»®®i-‘»Ma
4».
2 ►-» w ►*
®
*-»
c*
kmm
e»
m m oo e*
-sit-‘ojocn<uwa»w>-*o»©'^i©i^-j®oooeoo
14.55-.56
14.22 14.42-.43
@ —
@ — 14.16-.24
14.54 — 14.26-.28 14.16.18 14.32
* 14.23-.24 14.16 —
—
—
—
14.55-.65 14.26-.40 12.12.31 14.17-.4 4 14.13.33 04.15-.28
14.55-.56 14.28-.29 14.15-.16 14.26-.21 14.23-.24 14.23-.24
14.64-.74 14.35-.58 14.19-.40 14.24-.54 14.20-.43 14.21-.36
14.64-.65 14.37-.38 14.24-.25 14.34-.33 14.31-.32 14.28-.29
—
@
—
—
@
—
—
@
—
—
@
—
—
@
—
—
@
—
@
—
—
@
—
—
@
—
—
@
—
—
@
—
—
@
—
15-09 14.83-.91 14.68-.78 14.75-94 14.69-.77 14.64-.73
15.05-.07 14.78-.80 14.65-. 66 14.67-.77 14.72-.74 14.65-.67
—
.
Tone—
Spot
Options
omoomm®®^a»o
Oct. 21.
14.96-.08 14.69-.90 14.53-.73 14.60-.85 14.55-.74 14.53-.64
14.96-.97 14.69-.70 14.56-.57 14.67-.68 14.62-.64 14.58-.59
Closing
4*.,u. i-i
Oct. 20.
14.86-.88 14.58-.60 14.47-.48 14.61-.64 14.58-. 60 14.53-.55
May—
*.®w©'j®a®OMiii»®ai-‘oiMHiii.®^oo*.cj®0'tkO»M.jooo
iiMUioaot o>o<a-v»g)Q>©r'jg>-UMCJ.£.cicn©Qe-j©cnooo© tvs o oo
Oct. 19.
14.62.-64 14.38.-56 14.25-.40 14.35-.56j 14.32-.45 14.30-.38
14.57
* 14.35-.39 14.25-.2® 14.43-.43
14.38-.4Q 14.30 —
—
Closing
® i-WM© to to** to W to©
Oct. 18.
14.82-.94 14.35-.78 14.39.59 14.45-.73 14.41-.62 14.39-.54
14.83-.84 14.56-.57 14.43-.44 14.54-.53 14.50-.51 14.46-.47
April—
Range
mO
Oct. 17.
14.70-.72 14.42-.44 14.29-.30 14.42-.44 14.38-.41 14.36-.38
March—
M»
M®o>®owMac,i»Mj!
S> Wtv»CJ
Closing
Monday, Tuesday, Wed'day, Thursd'y, Friday’
Steady.
Steady.
Quiet.
Quiet.
Barely stj Steady.
Firm.
Barely
stj
Quiet.
Steady.
Very st’y
Steady.
♦Nominal.
o»>-‘'iU.©©o»ViluMOo©'J-‘1aoiM*®'^ioo'b»M^aooboooe<»o©<^H*©Vi©Vj
MMMMo^aaMwooMK^oMe^MNOMaMMMHeMoww
M®ifcOiUOI®MO>-‘<k.®OMWMW®M®®®M®Mit.O^
M
•*1
in to
to*-* go
NMMMiU
to®00i-*iUtoi«*.tot-‘-l-Jto®toi
iUM‘®®yi©-J©©*.©O0®-Ji
OAOOOOOO®OMOi^h®i
©
©mmO*v4mm®mMWOm®^W^©
UOMOOMOOiUM®WMMM30it.M®
UO®-J-J®®N®OON®^OT®MM
CV» •—*
WEATHER
S2&}
MUMMM®M®M®-]
ifcMM
WONOMMMM
MMUiU
Ml-*
Mto*J®4*®i-*©totoi-*to
MO?
iUUM®®«M®®Ofki-i
M&®
»M®OUOOUMO*l^^MUO>l©*JO®^OOMM>>]NeW®®We
•jC4«)©«©aOiUOM*ltfC«®®OOOiU®©®®®H>®W©H®9M®M
temperature is reported.
-to
®MOU*1MMiU>1
toO0to©®O»i-*iUto®*JtoO> tototo to*l Me*
•
•
w
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing the
overland movement for the week and since
Sept. 1, as made
Friday night. The results for
the last two years are as follows:
191L0
190S1
Since
October 21—
Via St. Louis
Via Cairo
Via Rock Island.
Via Louisville
Via Cincinnati.
Via Virginia points
Via other routes, &c_
Since
Week.
Sept. 1.
Week.
-.10,704
7,810
1,200
2,273
1,932
5,876
2,798
28,657
18,026
1,825
8,027
4,762
15,143
16,268
14,384
6,287
200
829
3,208
1,685
2,793
1,642
9,189
3,565
7,464
9,046
Total gross overland
..32,593
Deduct Shipments—
Overland to N. Y., Boston, &c_
4,074
Between Interior towns
398
Inland, &c., from South
583
92,708
30,199
75,560
11,314
3,857
12,668
2,833
107
723
7,746
1,280
6,776
__
.
..
_
__
..
Total to be deducted
Leaving total
•Including
net overland*
movement
__
Sept. 1.
31,453
14,014
5,055
27,839
3,663
15,802
..27,538
64,869
26,536
59,758
by rail to Canada.
The foregoing shows the week's net overland movement
has been 27,538 bales, against 26,536 bales for the week last
year, and that for the season to date the aggregate net over¬
land exhibits an increase over a year ago of 5,111 bales.
-1909-
-1910
In’Sight and Spinners'
Since
Since
Takings.
Week.
Week.
Sept. 1.
Sept. 1.
Receipts at ports to Oct. 21 A
2,128,451
450,899
451,952
2,406,810
Net overland to Oct. 21
59,758
27,538
64,869
26,536
Southern consumption to Oct. 21
390,000
46,000
264,000
52,000
_
tele¬
rule,
On the whole the weather
was
favorable to the
The above totals show that the interior stocks have in¬
creased during the week 99,913 bales and are
[to-night 83,621
bales less than at the same time last year.
The receipts
at all the towns have been 43,503 bales more than the same
week last year.
up from telegraphic reports
the week and since Sept. 1 in
are, as a
of a favorable tenor.
Where rain has fallen the precipita¬
tion has been light as a rule, but at some points rather low
Who?
H*
REPORTS BY TELEGRAPH.—Our
graphic advices from the South this evening
gathering of the crop, and picking and mar¬
keting as well have made good progress.
Galveston, Texas.—There has been rain on one day during
the week, the precipitation being two hundredths of an inch.
Thermometer has ranged from 52 to 74, averaging 63.
Abilene, Texas.—Rain has fallen on two days of the week,
the rainfall being three inches and
eighty-two hundredths.
Average thermometer 49, highest 60, lowest 38.
Brenham, Texas.—Light rain on one day of the week, the
precipitation reaching fifteen hundredths of an inch. The
thermometer has ranged from 43 to 93, averaging 68.
Cuero, Texas.—Rain has fallen lightly on two days of the
week, to the extent of ten hundredths of an inch. Average
thermometer 72, highest 98, lowest 46.
Dallas, Texas.—There has been rain on one day of the
past wTeek, the rainfall being forty hundredths of an inch.
The thermometer has averaged 68, ranging from 36 to 100.
Henrietta, Texas.—Rain has fallen on one day during the
week, the rainfall being one inch and thirty-five hundredths.
The thermometer has ranged from 35 to 95,
averaging 65.
Huntsville, Texas.—There has been no rain the past week.
The thermometer has ranged from 41 to 93,
averaging 67.
Kerrville, Texas.—We have had rain on one day the past
wreek, the rainfall being one inch and thirty-seven hun¬
dredths.
Average thermometer 69, highest 90, lowest 48.
Lampasas, Texas.—There has been rain on one day of the
week, the precipitation reaching one inch and four hun¬
dredths.
The thermometer has ranged from 49 to 89,
averaging 67.
Longview, Texas.—There has been rain on one day during
the week, the precipitation being twelve hundredths of an
inch.
Average thermometer 70, highest 95 and lowest 44. ’
Luting, Texas.—It has rained on two days of the week,
the rainfall being forty-four hundredths of an inch.
The
thermometer has averaged 66, the highest being 89 and the
lowrest 42.
Nacogdoches, Texas.—There has been no rain the past week.
averaged 68, ranging from 43 to 93.
Total marketed
525,490
529,435
2,856,568
2,457,320
Paris, Texas.—Rain has fallen on two days during the
Interior stocks In excess
73,009
391,077
99,913
339,849
week, the rainfall reaching thirty-nine hundredths of an inch.
602,444
The thermometer has ranged from 40 to 96,
averaging 68.
3.247,645
2,797,169
San Antonio, Texas.—We have had rain on two
days of
North. spinners’ takings to Oct. 21 83,574
66,146
275,756
326,613
the past week, the rainfall being ninety-four hundredths of
Movement into sight in previous years:
an inch.
The thermometer has averaged 58, the
highest
Week—
Bales.
Since Sept. 1—
Bales.
72
being
and
the lowest 44.
1908—Oct.
603,241 1908—Oct.124
3,014,192
1907—Oct.
Taylor, Texas.—There has been rain on two days during
2,282,681
456,799 1907—Oct. 25
1906—Oct.
2,857,835
576,453 1906—Oct. 26
the week, to the extent of
twenty-eight hundredths of an
1905—Oct.
1905—Oct.
27
2,998,451
411,734
inch.
Average thermometer 53, highest 66, lowest 40.
QUOTATIONS FOR MIDDLING COTTON AT OTHER
Weatherford, Texas.—Rain has fallen on two days
MARKETS.—Below are the closing quotations of middling the week, to the extent of ninety-six hundredths of anduring
inch.
cotton at Southern and other principal Cotton markets for The thermometer has
averaged
65,
the
highest
being
94
and
each day of the week.
the lowest 35.
_
The thermometer has
..
1110
THE CHRONICLE
Savannah, Georgia,—We have had rain
five days during
on
WORLD’S SUPPLY AND
the yreek, the precipitation
reaching two inches and ninetythree hundredths.
The thermometer has ranged from 63
from 59 to 84.
Charlotte, North Carolina.—Everybody is busy picking
Rain has fallen on two days of the past week, the
rainfall being fifty-four hundredths of an inch.
The ther¬
mometer has averaged 69, the highest being 84 and the
cotton.
9801
Montgomery,
Alabama.—Dry
the
all
week.
the extent of
mometer has
lowest 34.
one
inch
and five hundredths.
The ther¬
averaged 61, the highest being 87 and the
Alexandria, Louisiana.—There has been no rain the past
week.
The thermometer has ranged from 48 to 91,
averag¬
ing 70.
New Orleans, Louisiana.—Dry all the week.
The ther¬
mometer has averaged 79, the
highest being 90 and the lowrest
68.
Shreveport, Louisiana.—There has been only a trace of rain,
one day,
during the week. Average thermometer 72,
highest 90 and lowest 54.
Helena, Arkansas.—Fine picking weather, and cotton is
coming in lively. We have had rain on one day of the past
week, the rainfall being twenty-one hundredths of an inch.
The thermometer has averaged 68.1, the
highest being 83
and the
_
.
Deduct—
Visible supply Oct. 21
Season.
,
3,138,056
1,495,514
2,797,169
33,000
35,000
__
602,444
19,000
2,000
31,000
5,000
1,931,022
3,247,645
55,000
41,000
117,000
28.000
3,123,079
4,561,683 3,797,500
5,419,667
2,803,848
2,803,848
3,508,027!
3,508,027
.
|
154,000
47,000
Total takings to Oct. 21
319.231 1.757.835
289.473 1,911,640
Of which American.
257.231 1.336.835
236.473 1,580,640
Of which other
62,000
421,000
53,000
331,000
*
Embraces receipts In Europe from Brazil,
Smyrna, West Indies, &ci
.
.
__
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
October 19.
has
week, the rainfall being two inches. The thermometer has
averaged 75, ranging from 68 to 85.
Atlanta, Georgia.—Dry all the week. The thermometer
has averaged 73, the highest beirn: 84 afid h? lowest 63.
Ardmore, Oklahoma.—It has nined on three days during
the week, the rainfall being one inch and fi teen hundredths.
The thermometer has ave a ed 62, rang ng from 33 to
90.
Holdenville, Oklahoma.—Rain on two days of the week, to
Week.
_
Average
Selma, Alabama.—Dry all the week. The thermometer
averaged 73, the highest being 85 and the lowest 62.
Madison, Florida.—Rain has fallen on two days of the
1909.
Season.
Visible supply Oct. 14
2,423,676
Visible supply Sept. l._
American In sight to Oct. 21
625,403
Bombay receipts to Oct. 20
9,000
Other India shlp’ts to Oct. 20
7,000
Alexandria receipts to Oct. 19..
51,000
Other supply to Oct. 19*
7,000
lowest 55.
thermometer 74, highest 88 and lowest 61.
1910.
Week.
Total supply
LXXXX1.
TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
to
86, averaging 73.
Charleston, South Carolina.—We have had rain on four
days of the past week, the rainfall being three inches and
sixty-six hundredths. The thermometer has averaged 78,
the highest being 86 and the lowest 69.
Greenville, South Carolina.—We have had rain on two days
during the week, the precipitation reaching forty hundredths
of an inch.
The thermometer has averaged 72, ranging
[YOLu
1910.
1909.
1908.
230,000
240,000
624,150
Receipts (cantars)—
This week
Since Sept. 1
380,000
_
1,15
,498
881,837
„
This
Since
Week. Sept. 1.
Exports (bales)—
To Liverpool
To Manchester
11,500
_.
To Continent
To America
9,000
7,000
1 250
.
This
Week.
30,360
2 ,000
31,390
4, 99
5,250
Since
Sept. 1.
19,787
..6,250
6,500
400
Total exports
28,750 89,849 12,150
Note.—A cantar is 99 lbs.
Egyptian bales
Since
This
Week. Sept. 1
2,500
9,740
30,757
2,735
4“,500
800
6,081
26,987
2,798
59,529
7,800
45,615
weigh about 750 lbs.
The
statement shows that the
receipts for the week were
380,000 cantars and the foreign shipments 28,750 bales.
MANCHESTER MARKET.—Our report received
by cable
to-night from Manchester states that the market continues
firm for both yarns and
shirtings. The demand for both
yarn ank cloth is
improving. We give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison:
on
lowest 51.
Little Rock, Arkansas.—Weather favorable for
maturing
gathering cotton. Rain has fallen on one day of the
week, the rainfall being forty-two hundredths cf an inch.
The thermometer has averaged 67,
ranging from 51 to 84.
Memphis, Tennessee.—Picking active and marketing
liberal.
We have had rain on one day of the
past week, the
rainfall being seventy-two hundredths of an inch.
The ther¬
and
mometer has
lowest 57.
averaged 70, the highest being 85 and the
Nashville, Tennessee.—It has been dry all the week. The
thermometer has ranged from 56 to 86,
averaging 71.
Columbus, Mississippi.—There has been no rain during
the week.
The thermometer has
averaged 73,
ranging
from 56 to 89.
Vicksburg, Mississippi.—There has been
the
no
rain
past week.
during
The thermometer has averaged 73, the
highest being 87 and the lowest 55.
Mobile, Alabama.—Fine weather
ing and marketing have made good
in the interior and pick¬
progress.
We have had
no rain the
past wTeek. The thermometer has averaged 72,
the highest being 88 and the lowest 65.
ELLISON'S ANNUAL COTTON REVIEW FOR THE
SEASON OF 1909-10.—In our editorial columns will
be
found
an article in which we
give the figures from Mr. Elli¬
son's annual review of the
European cotton trade for the
season of 1909-10 as received
by us this wTeek by cable.
Reference is also made thereto in the Financial Situation.
INDIA COTTON MOVEMENT FROM ALL
PORTS.
October 20.
1910.
1909.
1908.
1910.
32s Cop
Ticist.
d. ~
8^, 10 4
1909.
84 lbs. Shirtings, common
to
d. s. d.
9
16
23
30
114
104 @ 114
10 H
@
114
109-16(3115-18
104 @115-16
7
14
21
104
@
111-16 (at
11
@
5
5
5
5
5
11W 5
ll 4 5
114 5
finest.
s.
6
@10 9
74io 11 0
7
@10 9
d.
84 tbs. Shirt- Cot’n
ings, common Mid.
to finest.
> VpFs
32s Cop
Twist.
VpVs
d.
@10 8
54@10 74
6
@10 74
6
@10 74
6
@10 74
7
Cot’n
Mid.
d.
d.
7.97 9 5-16 @
8.03 9 7-16 @
10
7.98 94
7.82 94
7.61 94
104
@
@
7.88 94
8.25 10
7.88 104
@
@
©
104
104
104
s.
d.
5
5
5
5
5
0
1
Since
Week.
Bombay...
9,000
33,000
For the Week.
Week.
19,00()
Since
Sept. 1.
Week.
55,000
7,000
Sept. 1.
43,000
Since September 1.
Exports
from,—
Since
Sept. 1.
Great
Conti¬ Japan
Britain. nent. dkChina Total.
Great
Britain.
Conti¬
Japan
nent.
<fc China.
Total.
Bombay—
@9
@9
2
3
104 5
104 5
104 5
12,000
3,000
12,000
I'.OOO
4,000
1,000
1,000
43,000
Calcutta—
Madras—
1910....
1,000
1,000
1,000
l‘,666
l’.OOO
1,000
1,000
1,000
4,000
3,000
6,000
1,000
2,000
1,000
'l'.ooo
4,000
4,000
5,000
2,000
2,000
2,000
23,000
30,000
35,000
1908....
All others—
1910....
1909....
1908....
86,000
23,000
1,000
3,000
2,000
4.000
2.000
2,000
2,000
10,000
10,000
24,000
97,000
.34,000
67,000
5,000
4,000
7,000
1,000
1,000
5,000
5,000
7,000
3,000
25,000
32,000
40,000
Total all1910
1909....
1908....
2.000 17,000 F
6,000
1 3,000
■
1,000
....
19.000
6,000
1 3.000
.
5,000
4,000
4,000
117,000
60,000
89,000
10,000
11,000
28,000
132,000
75,000
121,000
d.
5
6
6
@9
74
@9
9
34@9
9
9
9
4
@9
44@9
6.88
6.83
6.93
7.31
7.29
7.27
7.41
7.37
SHIPPING NEWS.—As shown on a
previous page, the
exports of cotton from the United States the past week have
reached 305,080 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK—To Liverpool—Oct.
14—Cedric, 4,473; Carmanla,
1,629
To Manchester—Oct. 14—Camoens, 1,994
To London—Oct. 15—Minnetonka, 600
To Havre—Oct. 15—Caroline, 951 upland, 112
foreign; La Gas¬
cogne, 2,500
To Bremen—Oct. 19—George Washington, 1,515
To Antwerp—-Oct. 14—Kroonland, 450
To Copenhagen—Oct. 19—C. F. Tletgen, 300
To Genoa—Duca d‘Aosta, 1,005; Sannlo, 300
To Trieste—Oct. 18—Martha Washington, 200
To China—Oct. 20—Indradeo, 100
GALVESTON—To Liverpool—Oct. 15—Kyleakln, 8,567_._Oct.
17—Rowanmore, 19,959
Oct. 19—Industry, 10,062
To Manchester—Oct 14—Domingo de
Larrlnaga, 10,793
To Bremen—Oct. 14—Helgoland, 12,433
To Hamburg—Oct. 17—Calabria, 805
..
To Christiania—Oct. 14—Texas, 1,050
To Genoa—Oct.
14—Dlnnamare, 4,850
Oct.
19—Aspromonte, 11,750; Victorious, 3,589
To Naples—Oct. 14—Dlnnamare, 400
To Leghorn—Oct. 14—Dlnnamare, 150
To Barcelona—Oct. 14—Dlnnamare, 2,150
PORT ARTHUR—To Havre—Oct.
14—Tronto, 8,000
To Bremen—Oct. 15—Wllster, 7,420
TEXAS CITY—To Liverpool—Oct. 15—Almerian, 6,947... Oct.
20—Student, 9,329
NEW ORLEANS—To Liverpool—Oct.
17—Median, 13,109
To Christiania—Oct. 21—Texas, 400
To Oporto—Oct. 17—Conde Wllfredo, 2,600
To Barcelona—Oct. 17—Conde Wllfredo, 2,250
To Genoa—Oct. 18—Cltta dl Palermo, 2 896;
Liguria, 2,008
To Honduras—Oct. 21—Roslna, 100
MOBILE—To Havre—Oct. 14—Kwarra 2,991
To Bremen—Oct. 15—Meltonlan, 5,723
PENSACOLA—To Liverpool—Oct. 18—E. O. Saltmarsh, 3,807._
SAVANNAH—To Liverpool—Oct. 15—Wllberforce, 8,012
To Havre—Oct. 15—Duart, 3,096
To Bremen—Oct. 14—Crown Point, 13,586;
Gogovale, 5,225
...Oct. 15—Vandalla, 6,525
___
...
...
To
1910
t. d
14@9
-
Receipts at—
*
...
Antwerp—Oct. 20—Thyra, 50
600
3,563
1,515
450
300
1,305
200
100
38,588
10,793
12,433
805
1,050
20,189
400
150
2,150
8,000
7,420
16,276
13,109
400
2,600
2,250
4,904
100
2,991
5,723
3,807
8,912
3,096
25,336
50
250
300
To Reval—Oct. 14—Crown Point, 250..
To Nykoplng—Oct. 14—Crown Point, 300
To Gefle—Oct. 14—Crown Point, 200
To Barcelona—Oct.
15—Delphlnc, 5,600
To Genoa—Oct. 15—Delphlne, 2,900.
BRUNSWICK—To Liverpool—Oct. 15—Tampican. 10,700
To Bremen—Oqt. 14—Mystic, 10,750
CHARLESTON—To Bremen—Oct. 15—Colonlan, 17,200
WILMINGTON—To Liverpool—Oct. 14—Crown of Castile, 16,117
To Bremen—Oct. 14—Soutra, 10,420
BOSTON—To Liverpool—Oct.
Oct. 18—
17—Zeeland, 893
Devonian, 6,252.
To Yarmouth—Oct. 3—Prince
George, 10
Oct. 18—Prince
Arthur, 63
L
To Halifax—Oct. 11—Halifax, 100.
BALTIMORE—To Bremen—Oct. 19—Breslau. 6,519--.PHILADELPHIA—To Liverpool—Oct. 14—Merlon, 6,545
To Manchester—Oct. 10—Manchester
Exchange, 2,100
TACOMA—To Japan'—Oct. 15—Tacoma Maru, 500
.
— .
Total
6,102
1,994
v--------
200
5,600
2,900
10,700
10,750
17,200
16,117
10,420
7,145
73
10O
6,519
6,545
2,109
509
305.089
I
1
•
LIVERPOOL.—By cable from Liverpool we
lowing statement
stocks,
of the week's sales, Oct.
7.
Sept. 30.
Sales of the week
bales.
Of which speculators took. _
Of which exporters took
Sales, American.
Actual export
Forwarded
Total stock—Estimated
Of which American
Total imports of the week
Of which American
Amount afloat
Of which American
33,000
1,000
1,000
26,000
3,000
46,000
275,000
197,000
53,000
46,000
246,000
210,000
62,000
1,000
2,000
53,000
3,000
56,000
280,000
207,000
62,000
53,000
350,000
315,000
The tone of the Liverpool market
each day of the past week and the
spot cotton have
Spot.
Market.
12:15
P. M.
Mid
Monday.
Fair
business
Easier.
•Sales
i
■opened
j
Market
4.00
P. M.
1
i
J
Good
have the fol¬
&c., at
that port:
21.
14.
Oct.
Oct.
70,000
3,000
58,000
3,000
1,000
48,000
2,000
85,000
379,000
302,000
197,000
167,000
410,000
353,000
2,000
56,000
3,000
74,000
269,000
204,000
65,000
63,000
430,000
369,000
for spots and futures
daily closing prices of
Wednesday.
Easier.
Thursday.
Good
demand.
Friday.
Fair
business
doing.
8.03
7.97
7.87
7.96
7.98
8,000
12,000
10,000
7,000
800
500
14,000
1,000
8,000
500
500
1,000
Steady at
4@5 pts.
Easy at
7@12 pts.
advance.
decline.
Quiet at
Quiet at
12% @16%
pts. dec.
2%@4%
pts. dec.
Steady at
2@3%
pts. adv.
Steady at
2@4 pts.
Steady at
3@4 pts.
Steady at
%@2 pts.
advance.
decline.
Quiet at
4%@7
pts. dec.
Steady at Very lrreg.,
3@5 pts. unch.to3%
decline.
pts. dec.
Quiet at
3%@6
pts. dec.
decline.
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and lOOJ/ts.
Thus: 7 96 means 7 96-1 OOd.
The
below.
Sat.
Oct. 16
IO
Oct. 21.
October.
Oct.-Nov.
Nov .-Dec.
Dec.-Jan.
Jan.-Feb_
Feb.-Mch.
Mch.-Apr.
Apr .-May.
May-June
June-July
July-Aug.
12%
12%
p.m.
p.m.
.
7
7
7
7
7
7
7
7
7
7
7
Mon.
Tues.
Wed.
| Thurs.
Fri.
4
4
12'% 4 12% 4
12%
4
12%
12%
p.m.
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
82 %! 79 %
70 %|68 %
77% 64 % 63
64
62%
77
77
64% 63
76% 73 % 68 %
61 %
65
69
55%
63 % 59
55%
63% 59
64% 59% 56
63% 64% 59% 56%
77% 65
60
56%
65
78
65% 64
60
56%
78
65% 64% 65
61
57%
65%
78% 66% 65
56
64
59%
63%
76% 65
54 %
57
62
%
62%
74 % 63%
96
83
shipments for the week will reach a large
announcement on Thursday that the Bank of
that the world’s
total, and the
England had increased its rate of discount 1%, making it
5%—an unusually high rate. At Buenos Ayres, moreover,
prices for wheat have declined. Argentina shipments for
the week have reached the suggestive total of 840,000 bush¬
els, against 784,000 last week and only 88,000 bushels for
the corresponding week last year.
In this country seeding
of winter wheat is almost finished and much of it is up and
looking well. To-day prices declined on dulness on the spot,
favorable Argentine crop news, bearish pressure and liqui¬
dation.
DAILY CLOSING PRICES OF
76
68
62
62
62
63
68
63
64
63
61
79%
% 77 % 76
% 69% 66 % 68 %
63% 60% 61 %
63
60% 61%
61
61%
% 64
64 % 61 % 62
62
62%
% 65
62
62%
% 65
63
63
% 66
j 64 % 61 % 61 %
60
60
% 63
71
62
54
%
54%
54%
55
55
55
56
54%
53
WHEAT FUTURES IN NEW YORK.
Sat.
No. 2 red winter
December delivery
8.19
Spec.&exp.
Futures. )
Tuesday.
-!
inquiry.
doing.
.Upl’ds
Market
been as follows:
Saturday.
1
1
j
mi
THE CHRONICLE
'
Oct. 22 1910
May
Mon.
Tues.
in elevator
99%
% 101%
107% 106% 106% 106% 107% 106%
CHICAGO.
delivery^n elevator
DAILY CLOSING
PRICES OF WHEAT FUTURES IN
Sat.
95%
December delivery in elevator
May delivery in elevator
Mon.
94
Tues.
93%
101% 100
100
97
96% 96
July delivery In elevator
Wed. Thurs. Fri.
93% 94% 93%
99% 100% 100%
96
97% 96%
Indian corn futures in the local market have been dull and
featureless.
At the West the speculation has been active
with prices irregular, though the changes
have been narrow.
Early in the week the trend of quo¬
tations was downward, owing to favorable weather, in¬
much of the time
creasing offerings, dulness and depression on the spot, selling
by cash interests and liquidation. After the recent steady
decline, however, shorts were disposed to cover, and their
Sentiment,
buying has latterly had a steadying effect
however, remains bearish, owing to the large supplies, pres¬
ent and prospective, and the belief of very many is that
prices must seek a still lower level. To-day prices declined
on clearing weather at the West, dulness on the spot and
liquidation.
DAILY CLOSING
PRICES OF NO. 2
Sat.
Cash corn
December delivery
57%
55 %
MIXED CORN IN NEW
Mon.
56%
Tues.
YORK.
Wed. Thurs. Fri.
5657%
57%
54 V 54 % 55 % 54 %
54
58
56% 56% 57% 58
57%
PRICES OF CORN FUTURES IN CHICAGO.
in elevator
May delivery in elevator
DAILY CLOSING
Sat.
delivery in elevator
May delivery In elevator
July delivery in elevator
December
Oats for future delivery
47
49%
50%
Mon.
46
48%
49%
Tues.
46%
49%
50%
Wed. Thurs. Fri.
47
49%
50%
47% ’ 46%
50% 49%
50%
50%
in the Western market have
been
quiet and prices have fluctuated with corn, though changes
have been slight.
Country offerings have been steadily in¬
creasing, and as stocks in the country are believed to be very
BREADSTUFFS.
heavy, the feeling among many in the trade continues bearish,
Fri ?ay, Oct. 21 1910.
despite the recent decline. The cash demand has been light,
Prices for wheat flour have shown slight changes during and houses of prominence in the cash trade have sold and
the week, but the tone of the market has been heavy, owing expressed bearish views as to the probable course of values.
To-day prices declined on weakness in wheat and Corn, hedge
to the recent steady decline in wheat quotations and a falling
There is a quite general feeling selling and liquidation.
off in the demand of late.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
that wheat is likely to show a further decline in the not
Mon.
Tues.
Wed.
Thurs.
Fri.
Sat.
distant future, and that purchases of flour can be made to
Standards 37%
36%
36%
36%
36%
36 % J
better advantage later on.
At the large milling centres of No.2 white 38
37
37
37
37
37%
the Northwest business has been reported moderately active,
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
the aggregate transactions during the past week having
Sat.
Mon. Tues.
Wed. Thurs. Fri.
exceeded the output of the mills.
At the West and the December delivery in elevator
30% 30% 31% 30%
30% 30
May delivery in elevator.
34
33% 34
34
34% 34
.Southwest, however, trade has been dull. Rye flour has July
delivery la elevator
33
32% 32% 32% 33% 33%
been quiet and steady.
Corn meal has been dull and easier.
The following are closing quotations:
Wheat has shown irregularity.
In other words, it has had
FLOUR.
no pronounced drift either upward or downward.
Whatever
$3
@83 60 Kansas straights, sack.$4 70 @ $4 90
low grades
$3 00
00@$i
bullish conditions exist are not considered pronounced enough Winter
4 80 @ 5 10 Kansas clears, sacks... 4 00@ 4 50
6 00@ 6 80
4 80@ 4 5) City patents
to cause any material advance at this timejon the other hand,
3 90@ 4 45
4 0 >@ 4 40 Rye flour
4 15 @ 4 25
_i
5 30@ 5 60 Graham flour
existing and prospective supplies are so bountiful that the
5 00@ 5 15 Corn meal, kiln dried.. 3 05@ 3 10
drift of opinion is that ultimately prices must seek a lower
4 00@ 4 50
level.
Yet the recent decline has been so sharp that at least
GRAIN.
Cents.
some temporary rally would not be considered at all surpris¬
Corn, per bushel—
Wheat, per bushel—
57%
No. 2 mixed
eiev.
SI 14%
N. Spring, No. 1
have
ing. Some large interests
been buying for long account,
Nominal
No. 2 mixed
f.o.b.
1 13
N. Spring, No. 2
Nominal
No. 2 white
f.o.b.
99%
Red winter. No. 2
encouraged by reports of a better demand from domestic
1 04% Rye, per bushel—
Hard winter, No. 2
millers and a decrease in receipts at spring-wheat markets.
78
No.
2
Western
f.o.b.
Cents.
Oats, per bushel, new—
Nominal
State and Jersey
3u %
Reports of more or less damage to winter wheat by Hessian
Standards
75@80
37% Barley—Malting
No. 2 white
fly in this country, especially from Illinois, have been
Nominal
Feeding, c.l.f.. N. Y__
36%
No. 3 white
in
circulation,
and
whether
trustworthy or not
have had more or less influence.
A conservative view of The statements of the movement of breadstuff's to market
this matter seems to be that some very early-sown winter indicated below are prepared by us from figures collected by
wheat has been damaged to a certain extent by fly, but that
the New York Produce Exchange.
The receipts at Western
it is too early to' make a definite statement as to the amount
lake and river ports for the week ending last Saturday and
of injury done.
At Minneapolis the receipts of late have been since August 1 for each of the last three years have been:
light and the cash demand has increased, so much so that
Rye.
Oats.
Barley.
Wheat.
Corn.
Flour.
the premiums have been well maintained, even if they have Receipts at—
not
increased materially.
Exporters have been good
bbls. 19616s. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.48lbs. bu.bfs lbs.
15.500
1,966,100
549,000
1,665,250
477,200
182,996
buyers at Winnipeg, Canada. It is said that the flour pro¬ Chicago
29.500
413,000
596,700
82,490
362,960
79,563
duction at the Northwest last week fell below the quantity Milwaukee..
1,438
125,343.
796
602,937
1,395,814
Duluth
41,560
42,250
sold.
112,540
644,680; 668,757
3,071,250
According to one Argentina dispatch, the recent rains Minneapolis.
1,000
37,500
69,000
43,000
came too late to benefit the crop in the Northwest.
Sea- Toledo
91,869
136,494
40,698
2,112
Detroit
board clearances from this country have latterly increased, Cleveland
94,698
34,613
32,906
2,046
5,500
595,000
93,800
140,580
495,830
64,120
St. Louis._
on Thursday reaching about 470,000 bushels, a fact which
7,700
176,000
84,200
390,161
17,000
53,200
Peoria
afforded the advocates of better prices some encouragement.
90,100
122,400
1,086,000
Kansas City.
Yet, as already intimated, many believe that an upward
102,888
4,234,290 2,595,394
2,754,324
7,022,658
425,597
Total wk. ’10
turn of prices at this time can be only temporary, and merely
4,171,204 2.787,353 253,073
1,968,514
9,694,191
417,009
Same wk. '09
4,661,132 2.389,059 224,549
1,544.004
8,903,546
in the nature of a natural rally after a rather prolonged de¬ Samewk. ’08
620,851
cline.
No large cash business has, after all, been done in Since
1
Aug. 1
this country, and, despite some falling off in the North¬
1910
4,124,398 88,394,448 40.173.678 63,522,207 16,982,983 1,670,790
5,625,406 90,322,793 36,097,815 50,371,151 22.122,557 !2,405,283
1909
western receipts, the stock at Minneapolis has shown a
1908
5,346,073 94,840,056 26.624,229 52,757,885 4.995,368 j2.445.132
noteworthy increase during the week. It is noteworthy,
too, that Liverpool quotations“have been falling, under the
Total receipts of flour and grain at the seaboard ports for
influence of favorable crop reports from Argentina and Aus¬
the week ended Oct. 15 1910 follow:
tralia, as well as a decreased demand for cargoes, a belief
—
,
.
n
....
-
Wed. Thurs. Fri.
99 % 99
99
100
102% 101 % 101% 101% 102
99 %
..
.
.
..
1112
Receipts
THE CHRONICLE
Flour,
at—
Wheat,
bbls.
Richmond
New Orleans *
Newport News.
530,300
24,593
237,234
93,239
34,950
771
Galveston.^
4,000
"
Mobile
Com,
Oats,
bush.
Barley,
bush.
bush.
bush.
425,775
108,212
50,854
208,609
44,938
65,200
622,550
78,902
90,516
15,679
9,312
66,000
42,550
2,300
1,270
5,600
12,562
6,392
bush.
227,288
54,987
72,919
68,175
3,085
25,634
1,000
*
Receipts do
through bills
not Include grain passing
of lading.
So far as
business transacted goes, the
market
this week shows
quieter conditions prevailing than were
noted last week.
During the early days the demand for
cotton goods
kept up the improvement previously
noted,
but as the week advanced
buyers have been less urgent in
putting forward their orders, particularly in the direction of
staple goods to be made; for immediate and near
require¬
ments there is little
change to be noticed, but there is less
insistence in endeavors to have orders
booked on staple lines
for deliveries
extending over the next three or four months;
this change,
28,124
667,476
79,149
887,978
through New Orleans for foreign porta
coming with an unsteady cotton market, show¬
prevailing downward tendency, seems to indicate some
modification of views on the
part of buyers of cotton goods
as to the future
The exports from the several seaboard
ports for the week
ending Oct. 15 1910
bush.
Com,
Flour,
bush.
bbls.
364,044
28,762
272,000
13,300
57,000
417,468
62,661
West Indies
23,073
Brit. Nor. Am. Cols. 3,448
308,849
44,687
60,356
New York
Boston
ing
shown in the annexed statement:
are
Wheat,
Exports) from—
Oats,
Rye,
bush.
500
bush.
Barley,
Peas,
bush.
bush.
917
LXXXXl.
THE DRY GOODS TRADE.
New York, Friday
Night, October 21 1910.
the volume of
2,000
5,498
105,949
3,250
24,626
240,381
34,962
2,093
Total week 1910.
480,685 1,164,697 1,017,035
45,643
917,921
Since Jan. 11910.14,182,870
53,666,018 32,462,412 40,010,057 2595,184
Week 1909
503,796 3,632,392
716,463
803,681
377,843
Since Jan. 1 1909.12,751,230
65,468,071 33,095,459 37,359.839 4889,690
•n
Rye,
[VOL.
a
course
that in
some
of
material.
raw
It is to be noted
directions, also, manufacturers, while
in no de¬
in prices held for at the end of last
week, show less reluctance to book forward business on
the
'"sob
‘‘300 prevailing basis.
The strong upward
771
tendency is for the
moment checked.
2,000 19,299
Taken all around, there has been a
ma¬
5,498
3,200
terial advance in the
613,000
158,000 65,520
average price of cotton goods in the
'18,666
25',666
present upward movement, and the
Total week
pause for the moment
1,348,106
671,166 245,745
is
18,800
25,000
1,217
probably more in the nature of the market
Week 1909
2,956,674
195,157 353,040
20,659
50,421 27,438
itself
to the
higher level than the recurrence of adjusting
The destination of these
any weakness.
exports for the week and since There have been
further occasional advances made
July 1 1910 is as below:
during
the week, but these have been
-Flour
-Wheatmore in the
-Cornway of belated
Sines
lines
Since
Since
leveling up than in reaching any higher range
Week
July 1
Week
Week
July 1
generally.
July 1
Exports for week and Oct. 15.
Reports from the interior jobbing centres continue
1910.
Oct. 15.
1910.
Oct. 15.
1910.
satisfac¬
since July 1 to—
bbls.
bbls.
bush.
tory in tenor, and there is evidently a
bush.
bush.
bush.
United Kingdom...108,265 1,028,115
good general distribu¬
839,086 8,406,282
158,000
tion
from
1,292,428
second
Continent
hands throughout the
:
65,543
479,005
501,020 4,751,871
448,204 1,338,291
country. Stocks in
Sou. & Cent. Amer. 16,416
the
263.427
Philadelphia
Baltimore
New Orleans
Newport News
Galveston
Mobile
Montreal
Other Countries
29,000
Total
Total
7.646
9,000
31,200
48,000
gree
23,000
30,777
33,391
—
6,000
91,449
2,000
7,000
245,745 2,184,439 1,348,106 13,256,602
353,040 2,662,594 2,956,674 24,473,923
1009..
The world’s
53,000
11,962
1,275,884
408,307
5,000
6,589
671,166
195,157
4,326,499
1,971,137
shlpinonts of wheat and corn for
ending Oct. 15 1910 and since July 1 1910 and
shown in the following:
Wheat.
Week
Oct. 15.
Bushels.
North Amer. 3,328,000
Russian
5,248,000
Danubian
3,040,000
..
Argentine
784,000
592,000
560,000
240,000
_.
Indian
Australian.
Oth. countr's
_
1909.
Since
July 1.
July 1.
Week
Oct. 15.
Bushels.
26.555,000
Bushels.
39,109,000
666,000
64,616,000
34,000
8,840,000
94,000
71,600,000
41,080,000
16,560,000 12,040,000 2,541,000
17,120,000 1 •
r
10,600,000 ^24,804,000 i
3,054,000 J
13792000 186,569,000 149,409,000
The quantity of wheat and
mentioned was as follows:
corn
Since
Since
July 1.
July 1.
44,740,000
16,510,000
68,738,000
afloat for
Total.
Bushels.
Bushels.
Bushels.
Oct. 15 1910.. 16,024,000 24,648,000 40,672,000
Oct. 8 1910.. 15,528,000 25,296,000
40,824,000
Oct. 16 1909.
12,720.000 16,320,000 29,040,000
Oct. 9 1909.. 11,840,000 15,760,000
27,600,000
Oct. 17 1908.. 15,680,000 16,400,000
32,080,000
Oct. 19 1907.. 15,840,000 16,040,000
31,880,000
.
57,360,000
Europe
on
Continent.
Bushels.
Bushels.
Total.
Bushels.
8,041,000 14,416,000 22,457,000
8,169,000 5,462,000 23,631,000
6,885,000 5,440,000 12,325,000
5,780,000 5,355,000 11,135,000
5,950,000 6,120,000 12,070,000
7,520,000 4,160,000 11,680,000
was as follows:
AMERICAN GRAIN STOCKS.
..
Philadelphia
..
Baltimore
New Orleans
Galveston
Buffalo
Toledo
..
..
..
Detroit
..
Chicago
..
Milwaukee
..
Duluth
Minneapolis
St. Louis
Kansas City
Peoria
..
_
..
—
Indianapolis
On Lakes
On Canal and River..
-
.
.
.
2,243,000
1,000
549,000
1,005,000
35,000
215,000
2,405,000
1,517,000
249,000
6,496,000
336,000
5,222,000
8,532,000
2,198,000
4.321,000
13,000
596,000
1,252,000
588,000
bush.
162,000
130,000
13,000
296,000
118,000
4,000
812,000
94,000
256,000
281,000
86,000
47,000
231,000
205,000
14,000
289,000
498,000
264,000
Oats,
bush.
520,000
3,000
55,000
692,000
143,000
1,265,000
358,000
150,000
6,839,000
482,000
997,000
3,263,000
456,000
217,000
1,748,000
Montreal..
.
Fort William
Port Arthur
Other Canadian
.
.
.
3,796,000 17,886,000
4,422,000
18,737,000
3,493,000 13,380,000
CANADIAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
bush.
bush.
bush.
492,000
49,000
664,000
5,205,000
2,695,000
1,153,000
Total Oct. 15 1910.
9,545,000
Total Oct.
8 1910.
9,077,000
Total Oct. 16 1909. .10,350,000
.
.
Wheat,
bush.
American
Canadian
49,000
121,000
59,000
SUMMARY
Corn,
bush.
.37,573,000
9,545,000
3,796,000
Total Oct. 15 1910. .47,118,000
Total Oct. 8 1910. .43,386,000
Total Oct. 16 1909. .35,420,000
3,845,000
4,543,000
3,552,000
.
49,000
Barley,
bush.
82,000
91,000
1.000
12,000
10,000
27,000
14,000
2,000
51,000
234,000
181,000
6,000
26,000
964,000
383.000
15,000
914,000
337,000
406,000
406,000
567,000
Rye,
bush.
4,000
2,956,000
2,630,000
3,977,000
Barley,
bush.
34,000
664.000
728,000
4,000
242,000
5i‘6o6
34,000
38,000
34,000
Rye,
Barley,
Oats,
bush.
17,886,000
664,000
18,550,000
19,465,000
13,622,000
^
^
722
11,735
11,418
5,780
23,177
1,593
10,096
36,743
37,058
1,809
.1,702
1,702
196,972
4,347
.
.
‘
.
.
Total
1,489
873
160,941
77
669
46
358
360
192
:
Since
Jan. 1.
14
48
57,051
775
50
110
639
20
188
694
14,031
24,024
12,872
32,775
1,327
11,160
42,219
16,658
318,369
The value of these New York
exports since Jan. 1 has
been $13,619,304 in
1910, against
No further advances have been$17,289,143 in 1909.
heavy brown cottons, such as sheetings and
drills, but the
tone continues firm
throughout, stocks in hand being small
and mills
declining orders for forward delivery at anything
below the prevailing
price ranges. Heavy ducks are firm,
with here and there a
shortening of discounts.
bush.
406,000
4,000
410,000
406,000
618,000
bush.
2,956,000
34,000
2,990,000
2,688,000
4,011,000
Occasional
advances of }<£c. a yard have been
reported in coarse, colored
cottons where these had not
previously
moved in unison
with
other leading makes.
First-hand supplies of denims,
tickings, plaids, &c., are limited. Some of the
leading tick¬
ets in bleached cottons have
already booked so much busi¬
ness at the
recent advance in
Rye,
bush.
12,000
117,000
192,000
389,000
Total Oct. 15 1910. .37,573,000
Total Oct. 8 1910. .34,309,000
Total Oct. 16 1909. .25,070.000
_
1909
Week.
reported this week in
Kingdom.
seaboard ports Oct. 15 1910,
Corn,
J-
.
dates
The visible supply of
grain, comprising the stocks in
granary at principal points of accumulation at
lake and
New York
Boston
West Indies
Mexico
Central America
South America
Other countries
Since
Jan. 1.
1,599
Week.
Great Britain
Other Europe
China
India
Arabia
1,861,000
5,433,000
6,569,000
43,497,000
United
Continent.
bush.
1910
New York to October 15—
Corn.
United
Wheat,
DOMESTIC COTTON GOODS.—The
exports of cotton
goods from this port for the week
ending Oct. 15 were 1,702
packages, valued at $135,065, their destination
being to the
points specified in the tables below:
Bushels.
4,889,000
2,599,000
extent,
materially affecting
the general tone.
1909.
Bushels.
Wheat.
Kingdom.
division feels the effect of the mild
weather to some
and business has been moderate
without
the week
1909 are
1910.
Since
Bushels.
primary market are light and jobbers are
ing with the reserve supplies within limited evidently work¬
compass.
The
financial condition of the
trade, judged by the regularity of
collections, is satisfactory. The woolen and worsted
goods
Corn.
1910.
making concessions
and
taking orders
now at
prices that sellers
values only.
the order of domets and flannelettes
are
reserved
of
firm and the heavier
are
Napped cottons
goods, such as cotton blankets, have been advanced 3 to
5%.
Subcount prints are in quieter
request, with an improvement
noted in the demand for better
grades. Staple ginghams and
the finer grades of dress
ginghams and zephyrs are quiet'but
firm.
There is no change in cotton
linings. Print-cloth
yarn fabrics have been in steady
demand, wide goods re¬
maining firm on the basisof 38J/£ inch 64
squares,5%c.; some
of the narrower makes have
advanced somewhat on the
prices
prevailing a week ago.
WOOLEN GOODS.—The demand for men’s
wear woolens
and worsteds this week for
quick delivery has been on a lim¬
ited scale, and it is evident that
the prolonged temperate
weather has an effect
upon consumptive requirements in
heavy-weights. A fair duplicating demand for spring-weights
is noted, buyers
paying recently advanced prices without
much demur.
Manufacturers of
worsteds are as a rule
fairly
situated, and apprehend no difficulty whatever in main¬
taining the enhanced range of prices, with an occasional ex¬
pression of opinion that there may be a further advance later
on in the season.
Dress goods continue
quiet.
FOREIGN DRY GOODS.—The market has
been with¬
well
out prominent feature in men’s
A moderate business has come
wear
woolens and worsteds.
forward in woolen and worsted
dress goods, the chief demand
being for sheer fabrics. Piece
silks are still in moderate
demand, with more business re¬
ported in ribbons. Prices for linens have an
advancing
tendency. Burlaps have developed considerable strength
in sympathy with
Calcutta, and a fair business is being done
at
higher: prices.
Oct. 22
THE CHRONICLE
1910.]
1113
Interest semi-annually in New York City.
Bid must be made on a form
furnished by the Sinking Fund Trustees and be accompanied by a certified
check for 5% of bonds bid for, drawn on some bank located In Ohio and
made payable to the aforesaid Trustees.
The bonds will be delivered
within 10 days from the date of sale.
Purchaser to pay accrued Interest.
State awp City jtefAftmEFiT,
News Items.
Baker City, Baker County, Ore.—Commission Plan of
Government Adopted.—The election held Oct. 3 (V. 91, p.
These securities are not new issues,
the Sinking Fund as an investment.
but bonds held by
Athens, Athens County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Nov. 7 by W. B. Bolden,
Village Clerk, for $5,450 5% coupon (village’s portion)
bonds, to pay the cost of improving sewers in Storm Water
893) on the question of governing the city on the “commission
plan,” resulted in a vote of 393 “for” to 215 “against.”
Helena, Mont.—Water Bond Election.—A special tax¬ Sewer District No. 1.
payers’ election will be held Jan. 9 1911 to vote on the ques¬
Authority Sections 53 and 77 et al., Municipal Code.
Denomination
tion of issuing $650,000 5% bonds for a municipal water- $545. Date Sept. 1 1910. Interest semi-annual. Maturity $545 yearly
Sept. 1 from 1911 to 1920 Inclusive.
Certified check on a bank In
plant, the source of supply to be Beaver Creek, which, we Athens County for 10% of bid. Is required. Purchaser to pay accrued
are advised, the city owns and controls.
Steps were taken interest. Bidders to satisfy themselves as to the legality of this issue
by the city in the spring of 1909 to float $600,000 bonds for before submitting bids.
a municipal system, but the issue was not disposed of, an
Atlanta, Ga.—Bond Offering.—Proposals will be received
injunction having been secured by the Helena Water-Works until 12 m. Nov. 15
by John W. Grant, Chairman Finance
Co.
This company recently offered to sell its plant to the
city for $590,000 in cash or city bonds, or to submit the Committee, at the City Comptroller’s office, for the follow. “
matter to appraisers and accept $100,000 less than their ing 4%% coupon (with privilege of registration) bonds:
$300,000 water-works bonds due $30,000 yearly on Jan. 1 from 1926 to 1935
finding as to its value. V. 90, p. 1567.
Inclusive.
Delivery Dec. 1 1910.
Newark, N. J.—Supreme Court Sustains Assessment Upon
200,000 school bonds due $20,000 yearly on Jan. 1 from 1926 to 1935 1acluslve.
Delivery Dec. 31 1910.
Reserve Fund of Prudential Insurance Co.—The State Supreme
Court has handed down an opinion, written by Justice
The above securities are part of the $3,000,000 bonds
Minturn, sustaining the assessment made by the city upon voted on Feb. 15 1910 (V. 90, p. 1055), of which $625,000
the special reserve fund maintained by the Prudential
were sold on June 1 to J. H. Hilsman & Co. of Atlanta (V. 90,
Insurance Co. on its deferred dividend policies.
The decision
reverses that of the State Board of Equalization of Taxes
p. 1503) and $420,000 have been awarded to the Sinking
and sustains the city, it is said, on the vital questions of Fund Commission.
on
The Newark “News” says regarding
involved.
taxation
the
Denomination $1,000.
ruling of the Court:
of the utmost Importance to the city and Its tax-payers.
“The victory Is
that the Supreme Court approves of the assessment of $14,623,279 37 made against the Prudential In 1909, and also the assessme t of
$20,283,574 20 made this year upon the same fund, which had largely Increased since 1909 * *
“The most significant feature of the decision as to Its effect Is that the
assessments sustained by It, already made and upon the books of the
Receiver of Taxes, call for the payment In actual taxes of $670,765, with
a large sum to be added In the form of Interest.”
It
means
It has been announced that the case will be carried up to
the Court of Errors and Appeals.
Pennsylvania.—Supreme Court Decides That State Treas¬
Wright May Hold Office Until 1913.—In an opinion filed
Oct. 19, the State Supreme Court holds that Chas. F. Wright,
appointed as State Treasurer by the Governor to succeed
J. A. Stober, elected in November 1909 but who died before
he was able to qualify for the office, may serve the full term
for which Mr. Stober was elected, that is, until May 1913.
urer
The decision reverses the decree of the Court of Common
Pleas of Dauphin County, from which the case was appealed.
As stated in V. 90, p. 1253, the State Supreme Court on
May 2 upheld the action of the Governor in appointing Mr.
Wright as Treasurer.
Phoenix, Ariz.—Litigation.—Suit has been brought by
the Phoenix Sewer and Drainage Co. to restrain the city from
selling bonds for a municipal sewage-disposal plant. As
stated in V. 91, p. 480, $325,000 bonds were offered by the
city on Oct. 1.
Bond Calls and Redemptions.
Hawaii.—Bond Call.—Payment will be made Nov. 1 at
Wells, Fargo & Co.’s Bank in New York City of bonds
Nos. 81 to 130 inclusive ($50,000), issued under an Act of
Congress approved Jan. 26 1903.
Polk County (P. O. Bolivar), Mo.—Bond Call.—Payment
will be made on Nov. 7 of 4% court-house bonds numbered
from 1 to 12 inclusive.
They are in denominations of $500
each and
are
dated Oct. 2 1905.
are
dated Oct.
16 1899.
Wheeling, W. Va.—Bond Call.—Interest will cease Nov. 1
on all outstanding bonds and coupons of the “loan of 1881.”
Bond Proposals and Negotiations this
have been
as
week
follows:
$2,700 public-improvement bonds.
Denomination $900. Date Oct. 1
1909.
Maturity $900 on Oct. 1 in each of the years 1912, 1913
1914.
1,275 public-improvement bonds.
Denomination $425. Date Nov. 1
1909.
Maturity $425 on Nov. 1 in each of the years 1912, 1913
and
1914.
4,800 Bellows Street
.
_
sewer
1909.
Maturity
and 1913.
Denomination $800.
Date Nov. 1
Nov. 1 in each of the years 1911, 1912
bonds.
$1,600
on
„
„
^
3,000 public-improvement bonds.
Denomination $1,000. Date May lo
1910.
Maturity May 15 1912.
Denominations $1,000 and $700.
Date
10,700 main-trunk-sewer bonds.
July 1 1910.
Maturity $4,000 on July 1 In each of the years 1913
and 1914 and $2,700 on_July 1 1915.
Denomination $1,000.
Date Aug. 1 1910.
10,000 water-works bonds.
Maturity $5,000 on Aug. 1 in each of the years 1914 and 1915.
10,000 sewage-and-garbage-dlsposal bonds.
Denomination $1,000. Date
Maturity $5,000 on Aug. 1 In each of the years 1913
Aug. 1 1910.
_
and
1914.
2,000 public-improvement bonds.
Denomination $1,000.
15 1914.
Date Sept.
5,900
spt. 1 in each of the years 1914
1910.
1 1910.
Date Aug. 15
Maturity $2,000 on
and 1915 and $1,900 on Sept. 1 1916.
Interest semi-annually at
official notice of this bond offering will be found among
Department.
Baltimore, Md.—Sales of City Stock.—Local papers state
that all but $72,500 of the $2,400,000 4% stock (5 issues)
which was offered at public sale on May 23, has been sold.
As previously stated only $248,100 was awarded on May 23
and since then the city has been selling the loan in various
the advertisements elsewhere in this
amounts “over the counter.”
Townsend
Baltimore advise us that in the past few
Scott & Son of
weeks they have
purchased from the city $802,300 of this stock at 99% and
accured interest.
Beckham County (P. O. Sayre), Okla.—Bond Sale.—The
$70,000 5% court-house and jail bonds offered without suc¬
cess on July 7 (V. 91, p. 166), were awarded on Sept. 6 to
John Nuveen & Co. of Chicago.
Denomination $1,000.
Date July 1 1910.
Interest semi-annual.
Beverly, Essex County, Mass.—Bond Sale.—An issue of
$10,000 4% 1-10-year (serial) playground bonds, dated
July 1 1910, has been awarded, it is stated, to Blodget &
Co. of Boston at 101.40.
Binghamton, Broome County, N. Y.—Bonds Voted.—An
election held Oct. 14 resulted in favor of a proposition to
issue $50,000 school bonds.
The vote was 427 to 160. 4
Blue Hill, Webster County, Neb.—Bond Sale.—The $8,000
5% 5-20-year (optional) coupon electric-light bonds described
91, p. 600, were disposed of last month to local inves¬
in V.
tors.
Bridgeton, Cumberland County, N. J.—Bond Sale.—On
18 the $50,000 4J^% 15-30-year (optional) sewagedisposal-plant bonds described in V. 91, p. 976, were awarded
to Devitt, Tremble & Co. of Chicago at 101.254.
Other
Oct.
were as
follows:
Cumberland N. Bk., Bridge_$50,0371 Farson, Son & Co., N. Y
$50,000
County (P. O. Greenville), Ala.—Bond Offering.—
Proposals will be received until 12 m. Oct. 26 by H. D.
Lampley, Probate Judge, for $50,000 4%% gold coupon
Butler
bonds.
Authority Article 8, Chapter 11, Volume 1, Alabama Code.
Denomina¬
$1,000.
Interest semi-annually in New York.
Date Sept. 1 1910.
Maturity Sept. 1 1940.
Certified check for $500, payable to J. P. Reynolds,
County Treasurer, Is required.
The legality of this Issue has been approved
by Story, Thorndike, Palmer & Dodge of Boston.
Bonded debt at present,
$17,000.
No floating debt. Assessed valuation In 1910, $5,277,775.
tion
Butler County, Pa.—
that this district has
4% school-building and
equipment bonds. Maturity 30 years, subject to call $15,000
in 10 years, $15,000 in 15 years and $20,000 in 20 years.
Cadiz School District (?. O. Cadiz), Trigg County, Ky.—
Bonds Voted.—Papers state that this district has voted to
issue the $12,000 bonds for building and equipping a new
school, mentioned in V. 91, p. 740.
Catasauqua, Lehigh County, Pa.—Bond Sale.—On Oct. 3
the $15,000 4% coupon water-works-extension bonds de¬
scribed in V. 91, p. 895, were awarded to the Merchants’
National Bank in Allentown on a 3.95% basis.
Maturity
$1,600 in 1915, $2,000 in 1920, $2,400 in 1925, $2,800 in
1930, $3,400 in 1935 and $2,800 in 1940.
'A Charles City, Floyd County, Iowa.—Bond Sale.—The
$20,000 water-works and $20,000 sewer 4)^% 20-year bonds
offered on Oct. 17 (V. 91, p. 817) were purchased by Geo. M.
Bechtel|& Co. of Davenport at 101. The following bids were
Butler School District (P. O. Butler),
Akron, Ohio.—Bond Offering.—Proposals will be received
until 7:30 p. m. Oct. 25 by W. A. Durand, Secretary Board
of Sinking Fund Trustees, for the following 4}4% bonds,
aggregating $50,375:
and
1
The
bids received
Thayer School District, Oregon County, Mo.—Bond Call.
—Refunding 5% bonds Nos. 6 and 7 were called for payment
on Oct. 16.
They are in denomination of $500 each and
Date Jan.
the City Treasurer’s office or at the city’s fiscal agency In New York City.
The bonds are exempt from State, city and county taxation.
Bid must be
made on a form furnished by the city and be accompanied by a certified
check on a national bank for 2% of bonds bid for, made payable to the
“City of Atlanta.”
Purchaser to pay accrued Interest.
The legality of the
bonds has been approved by Storey, Thorndike, Palmer <Se Dodge of Boston. a copy of whose opinion will be furnished on request.
Bonds Authorized.—It is reported
authorized the issuance of $50,000
also received:
1114
THE
CHRONICLE
Par, Less I
Par, Less
S. A. Kean & Oo., Chicago
$400|Thos. J. Bolger Co., Chicago—$800
E. H. Rollins & Sons,
Chicago.- 625|N. W. Halsey & Co., Chicago— 950
A bid of 100.125 was also received
from the Citizens' National Bank of
Charles City, while Farson, Son & Co.
of
bonds providing the city would pay the Chicago offered to take the
Denomination $1,000. Interest semi-annual.expense of Issuing the same.
Chicago Junction School District (P. O. Chicago), Huron
County, Ohio.—Bond Sale.—The $20,000 5% coupon schoolbuilding and improvement bonds offered on Oct. 14, and
described in V. 91, p. 1048, were awarded to
Stacy & Braun
of Toledo at 100.384.
Maturity $500 each six months from
Oct. 14 1922 to April 14 1942 inclusive.
Circleville, Pickaway County,
Ohio.—Bond Sale.—On
Oct. 18 the $15,000 4*4%
2-16-year (serial) coupon sanitarysewer-extension bonds described in V.
91, p. 1048, were
awarded to the First National Bank of Circleville at 103.753
and accrued interest.
A list of the proposals submitted
follows:
First N. Bk.t circleville-.$15,563
Farson, Son & Co., Chic.. 15,502
New First N. Bk., Colum. 15,454
Seasongood & Mayer, Cln_ 15,435
C.E.Denison & Co.. Cleve. 15,433
Davles-Bertram Co., Cln. 15,430
Prov. S. B. & Tr. Co., Cln. 15,423
Hayden,Miller & Co.,C!ev. 15,422
a
For $3,000 bonds,
x
00
50
00
00
75
00
75
00
Field,Longstreth«5cCo.,Cln.315,414
Barto, Scott & Co., Colum
Stacy & Braun, Toledo—
Well, Roth & Co., Cln
E. H. Rollins & Sons, Chic
Stephen Miller, Circleville.
Alice Sapp, Circleville
E.HRolins
Cleveland, Ohio.—Bond Offering.—Proposals will be re¬
City Auditor,
Denomination $1,000.
Interest from Oct. 1 1910
semi-annually at the
American Exchange National Bank in New York
City. Maturity Oct. 1
1940.
Certified check on a national bank for 5% of bonds bid for,
payable
to Harry L. Davis,
City Treasurer, is required.
Bids to be made on blank
forms furnished by the City Auditor.
Cleveland Heights (P. O. Cleveland), Ohio.—Bond Sale.—
On Oct. 11 an issue of $17,834
434% 1-10-year street-im¬
provement bonds was awarded to the Tillotson & Wolcott
Co. of Cleveland for $18,121
13, the price thus being 101.61.
Date Oct. 11
1910.
Interest semi-annual.
Cooke County (P. O.
Gainesville), Tex.—Bonds Not Yet
Sold.—We are advised, under date of Oct.
14, that no award
has yet been made of the
$100,000 434% 10-40-year (op¬
tional) coupon Justice Precinct No. 1
road-improvement
bonds offered without success
(V. 89, p. 1685) on Nov. 22
1909.
Conrad, Teton County, Mont.—Bond
Offering.—Proposals
will be received up to and
including Nov. 19 by Edwin A.
Pettigrew, Town Clerk, for $25,000 bonds at not exceeding
6% interest.
Denomination $1,000
Interest semi-annual.
$10,000 In 1925 and $12,000 In 1930.
The
Maturity $3,000 in 1915,
official notice of this bond offering will be found
among
the advertisements elsewhere in this
Department.
Copiah County (P. O. Hazlehurst), Miss.—Bonds Not Sold.
—No sale was made on Oct. 3 of the
$75,000 5% 25-year
Hoad District No. I improvement bonds
described in V.
We are informed that they will be re-advertised 91,
p. 818.
for
sale next month.
jCuyahoga County (P. O. Cleveland), Ohio.—Bond
On Oct.
19
the
$300,000 434% 1-20-year (serial)
court-house-construction bonds described in V.
91,
were awarded to C. E.
The bids received
Sale.—
coupon
p.
896,
Denison & Co. of Cleveland at 101.683.
were as follows:
C.E.Denison & Oo.,Cleve $305,051
New First N. Bk., Colum 305,031
Hayden,Miller & Co.,Clev 304,930
Otis & Hough, Cleveland 304,707
75 Tillotson & Wolcott
Co.,
00
Cleveland
$304,625 50
00 Cleveland Tr. Co.,
Cleve. 304,620 00
00 Western German
Bk.,Cln 303,183 00
Dallas, Texas.—Bond Offering.—Further details are at
hand relative to the
offering on Oct. 26 of the following gold
coupon bonds, mention of which was made in V.
$350,000 4H%
100,000 4%
100,000 4%
100,000 4%
Proposals for
91,
permanent street-improvement bonds.
water-works permanent-improvement
sanitary sewer-improvement bonds.
publlc-school-lmprovement
p.
977:
bonds.
bonds.
the above bonds will be received
until 12 m. Oct
J. B. Winslett, City
Secretary. Denomination $1,000. Date June 1 26 by
1910
Interest semi-annually at the Chase
National Bank in New York
The street bonds are
City
payable June 1 1950, while the other bonds
mature
June 1 as follows:
$2,000 of each issue every odd
year and $3,000 of
each Issue every even year, from 1911
to 1950 inclusive.
Certified check for
2% of bonds bid for, payable to C. B.
Gillespie, Commissioner of Finance
and Revenue, Is required.
Bonds will be certified as to
genuineness by the
United States Mortgage & Trust Co. in
New York
approved by Dillon, Thomson & Clay of New York City, and their legality
whose opinion as
City,
to legality will be furnished to the
purchaser.
Official circular states that
there has never been any default in the
payment
of
the city’s bonds.
Bids to be made on blank forms principal or interest on
furnished by the city
Bonds will be delivered not later than
Nov. 10.
Purchaser to
Interest.
The bonds
Du
were
registered by the State Comptroller
pay accrued
on
Oct. 13
Page County School District No. 46 (P. O.
Elmhurst),
Ill.—Bond Sale.—On Oct. 17 the
$20,000 5% coupon schoolbuilding bonds described in V. 91, p. 1049, were awarded
to Allerton, Greene &
King of Chicago at 102.43 and accrued
interest.
The following bids were received:
Allerton, Greene & King,
Chicago
*$20,486
Elmhurst State Bank
20,480
Harris Tr. & S Bk., Chlc_:r20,465
Farwell Trust Co., Chic.. 20,432
Cont. & Comm. Tr. & Sav.
Bank, Chicago
Spltzer & Co., Toledo
Wm. R. Compton Co.,Chic
Blodget & Co., New York.
20,410
20,370
20,362
20,354
N. W.
00
00
00
00
00
00
00
50
Halsey&Co.,Chlc.-$20,320
Roth &
00
Well,
Co., Chic
o20,260 00
A. B. Leach & Co., Chic__
20,256 00
Thos. J. Bolger Co., Chic.
20,218 00
Hanchett Bond Co
20,217 00
McCoy & Co., Chicago..- 20,203 00
& Sons, Chic,
20,186 50
F. B. Hitchcock & Co
20,182 00
John Nuveen & Co., Chlc_
20,152 00
Chas. H. Coffin, Chicago.
20,076 00
20,004 00
Farson, Son & Co., Chic.. 20,000 00
Devitt,Tremble&iCo.,Chlc.
* Also
offered $20,006 for 4 Hs.
offered $19,851 for 4 Hs.
x
Also offered $20,015 for 4
Hs.
1919ainclus!ve,(M)0 ln eveo an<1 *8’000 In odd yeAr8 on April
El Reno, Canadian
County, Okla.—Bond Sale.—On Oct. 15
the $50,000 5%
20-year coupon city-hall-building bonds
described in V. 91, p. 1049, were awarded to the
Harris
Trust & Savings Bank in
Chicago at 100.502. The following
bids were also received:
S. A. Keaa &
Co.,
Chicago.a$50,0001 John
Less $950 for expenses.
Nuveen & Co., Chic..*$50,000
• Less $2,500 for expenses.
Ennis, Ellis County, Texas.—Purchasers of Bonds.—We
advised that the purchasers of the
$12,000 5% 10-40-year
(optional) water-works bonds disposed of on Aug. 15 (V. 91,
p. 477) were the Knights of Pythias.
The price paid was
par.
Denomination $1,000. Date Feb. 1 1910. Interest
are
annual.
For $2,000 bonds.
ceived until 12 m. Nov. 21 by H.
B. Wright,
for $600,000 4%
coupon grade-crossing bonds.
Denomination $500.
described in V. 91, p. 977, were awarded to the State
Board of Land Commissioners at
par.
No other bids were
received.
East Denver Municipal
Irrigation District (P. O. Denver),
Colo.—Bonds Voted.—An election held Oct. 10 is
reported to
have resulted in favor of the
question of issuing $3,000,000
bonds.
oo
50
50
00
55
00
x2,025 00
lxxxxi.
Dawson County School District No. 38,
Seats (P.
Newton), Mont.—Bond Sale.—On Oct. 10 the $1,000 O.
6%
5-10-year (optional) coupon school-building and
furnishing
bonds
a
15,412
15,404
15,360
15,113
a3,075
[Vol.
a
A]
Fostoria, Seneca County, Ohio.—Bond Sale.—On Oct.. 14
$9,361 56 434% (city’s portion) street and sewer-im¬
provement bonds described in V. 91, p. 896, were
awarded
to the Union National Bank in
Fostoria for $9,512 56
(101.612) and accrued interest. The other bids received
the
were
follows:
as
Premium.
Premium.
Prov. S. Bk. & Tr. Co., Cln..$138 55
Davles-Bertram Co.. Cln
$101 00
New First Nat. Bk., Colum._ 113 50
Citizens' S. D & Tr. Co., Tol.
97 25
Hayden, Miller & Co Cleve. 113 00 Seasongood &
Mayer,
Cln
50 44
Weil, Roth & Co., Clncin
103 10 Stacy & Braun, Toledo
33 49
A bid of par was also received from
the Commercial Bank &
Co.
of Fostoria.
Maturity $361 54 March 1 1911 and $500 every Savings
six months
from Sept. 1 1911 to March 1 1920 Inclusive.
,
Frederick
County (P. O. Frederick), Md.—Bond Sale.—
$75,000 434% 15-30-year (optional) coupon bonds
described in V. 91, p. 897, were
disposed of as follows on
Oct. 18: $66,500 awarded to Townsend
Scott & Son of
Baltimore at 101.69; $8,000 sold to John Francis
Smith at
102 and $500 to Geo. E.
Hankey at 101.75. The other
The
bidders
were:
Baker, Watts & Co., Balt
J. Harmanu3 Fisher & Co
Freeborn
Sold.—We
101.638|J. Wilson Jr
100.70|T. B. Gamble
County (P. O. Albert Lea), Minn.—No
100.41
par
Bonds
are advised that there is no truth
in the reports
that this county has sold
$3,500 ditch bonds.
Fulton, Oswego County, N. Y.—Bond Sale.—An issue of
$8,866 38 bonds was disposed of on Sept. 19.
Galion, Ohio.—Bond Sale.—On Oct. 17 the eleven issues
of 434% assessment
bonds, aggregating $58,950, described in
V. 91, p. 897, were
awarded, it is stated, to Hayden, Miller &
Co. of Cleveland for
$59,930, the price thus being 101.662.
Galveston County (P. O.
Galveston), Tex.—Bonds Not
Yet Sold.—We are advised that the
$500,000 5% 20-40-year
(optional) public-road bonds, bids for which were opened on
July 11 (V. 91, p. 416), have not yet been sold. The bonds
were
recently awarded to a Chicago firm, but the sale was
not
consummated.
Gibson
County (P. O. Princeton), Ind.—Bond Sale.—On
Sept. 15 the Marion Trust Co. of Indianapolis purchased
$57,000 534% gravel-road bonds at par.
Denominations $700 and $475. Date Aug. 1 1910.
Interest
November.
Maturity part yearly from 1911 to 1930 Inclusive. May and
Gloversville, Fulton County, N. Y.—Bond Sale.—On
Oct. 18 the $66,000 4% registered
sewer construction bonds
mentioned in V. 91, p. 1049, were awarded
$33,000 to the
City National Bank, Gloversville and $33,000 to the Fulton
County National Bank, Gloversville at par and accrued
interest.
There
were no
other bids received..
Greenburgh (Town) Union Free School District No. 2,
(P. O. Irvington), Westchester County, N. Y.—Bond Sale.—
The $80,000 434%
2-17-year (serial) coupon (with privilege
of registration)
school-building and site-purchase bonds
offered on Sept. 15 and described in V.
91, p. 666, have been
awarded to Kountze Bros, of New York
City at 101.09 and
accrued
interest.
Greenfield
Fire District No. 1 (P. O.
Greenfield), Franklin
County, Mass.—Description of Notes.—We are advised that
the $75,000 4% 1-20-year
(serial) reservoir notes awarded
on Sept. 27 to Jackson &
Curtis of Boston on a basis of
3.95% (V. 91, p. 1049), are in denominations of $1,000 and
$750.
Date Nov. 1 1910.
Interest semi-annual.
Hastings-on-Hudson, Westchester County, N. Y.—Bond
Sale.—On
Oct. 18 the $45,000
street-improvement bonds
described in V. 91, p. 1049, were awarded to Adams
& Co.
of New York City for
$45,037 50 (100.083) for 4.30s. There
were twelve other
bidders, the
highest being at par for 434sMaturity $3,000 yearly on July 1 from 1912 to 1926 inclusive.
Herkimer, Herkimer County, N. Y.—Bond Sale.—On
Oct. 18 $12,99S 58 paving bonds were sold to Geo.
C. Steele
of Herkimer
as
434s-
Denominations
12 bonds of $1,000
each, 2 bonds of $300 each and 1 bond
of $398 58.
Date Oct. 1 1910.
Interest semi-annual. Maturity on Oct. 1
as follows: $2,300 in
1911, $2,300 in 1912, $2,398 58 in 1913 and $2,000 in
each of the years 1914, 1915 and 1916.
„
1 from 1912
Hill School District, Sonoma
On Oct. 8 an issue of $1,200
County, Oal.—Bond Sale.—
6% 12-year school-building
OOT. -2
1115
THE CHRONICLE
19X0.)
Maumee, Lucas County, Ohio.—Bonds Defeated.—The
awarded to the Santa Rosa Bank in Santa Rosa
election held Oct. 17 resulted, it is stated, in the defeat of
and accrued interest. There were no other bidders.
the proposition to issue the $45,000 water-works plant con¬
Denomination 5100.
Date Oct. 8 1910. Interest annual.
struction bonds mentioned in V. 91, p. 821.
Homer, Calhoun County, Mich.—Bonds Voted.—This
Melrose, Middlesex County, Mass.—Bond Sale.—This city
village, it is stated, has voted to issue $20,000 water-workshas sold $5,000 4% coupon surface-drainage bonds.
system bonds. The vote was 312 “for” to 56 “against.”
Interest January and July at the Second National Bank In Boston.
Jacksonville, Jackson County, Ore.—Bond Sale.—Accord¬ Maturity
July 1 1920.
The bonds are tax-exempt.
ing to reports, the $30,000 gravity-water-system bonds
Memphis,
Tenn.—Prices
Paid for Bonds.—Local papers
mentioned in V. 91, p. 290, were recently awarded to Ulen,
report
that
the
syndicate
composed
of E. H. Rollins & Sons
Sutherlin & Co..of Chicago for $30,307, the price thus being and
the Merchants' Loan & Trust Co., both of Chicago;
101.023.
A. G. Edwards & Sons of St. Louis, and Blodget & Co. of
Kenton, Hardin County, Ohio.—Bond Sale.—The four Boston, which recently purchased the $275,000 and $300,000
issues of bonds offered on Oct. 17, and described in V. 91,
434% and the $435,000 6% coupon street-improvement
bonds (V. 91, p. 1050), paid 101.281, 101.283 and 102.40,
p. 897, were awarded as follows, according to reports:
$2 700 5% East Lawn sewer-construction bonds, to James Dow, of Kenton,
respectively, for the same. The papers further state that the
for $2,787, the price thus being 103.222.
850 5% Local Sewer No. 5 construction bonds, $1,800 4H% waterfollowing bids were received:
maln-extcnslon bonds and $1,545 5% Main St. Improvement
$435,000
$300,000
$275,000
bonds, to J. W. Dougherty for $4,246, the price thus being
Bonds.
Bonds.
Bonds.
bonds
was
at par
1
101.215.
Klamath County, Ore.—Bond Election
Proposed.—It is stated that an election will be called shortly
to vote on a proposition to issue $70,000 fire-alarm-system
and equipment for fire protection bonds.
Lansing, Ingham County, Mich.—Bond Sale.—An issue
of $13,000 4J4% paving bonds was awarded on Oct. 3 to
N. W. Halsey & Co. of Chicago.
Denomination $500.
Interest annually in September.
Lebanon School District (P. O. Lebanon), Lebanon
County, Pa.—Bond Sale.—An issue of $123,000 4% refunding
bonds was disposed of on Oct. 1 to local investors at par.
Klamath Falls,
Denomination $500.
Date Oct. 1 1910.
E. H. Rollins & Sons, Chicago
‘
Merchants’ Loan & Tr. Co., Chicago $445,440
A. G. Edwards & Sons, St. Louis-.
Blodget & Co., Boston
Bank of Comm. & Tr. Co.,
00 $303,850 00 $278,525 00
.
Memphis. 445,331 25
Hayden, Miller & Co., Cleveland
444,068 00
A. B. Leach & Co., Chicago
442,765 00 301,132 00 276,125 00
Provident S. B. & Tr. Co., Cin
1
Well, Roth & Co., Cincinnati
441,665 50 o300,000 00 a275,000 00
Breed & Harrison, Cincinnati
Otis & Hough, Cleveland
J
Union & Planters’ Bk. & Tr. Co.,Mem 436,305 00
301,800 00 276,798 50
Wm. A Read & Co., Chicago
(for the three issues) $1,015,665
f
Less $2,750 for expenses.
A bid was also received from the
a
Continental & Commercial Trust & Sav
ings Bank and the Harris Trust & Savings
Middletown School District
Maturity $25,000 every 5 years.
Bank, Chicago.
(P. O. Middletown), Dauphin
Va.—Bond Election.—The County, Pa.—Price Paid for Bonds.—We are advised that
issuing the $350,000 road¬ J. S. & W. S. Kuhn Inc. of Pittsburgh paid 102.34 and
building bonds (V. 91, p. 291) will be held Nov. 29 and not interest for the $50,000 434% coupon school-building bonds
awarded them (V. 91, p. 1050) on Oct. 10.
The following
Nov. 8, as at first reported.
Lee County (P. O. Jonesville),
election to vote on the question of
Little River School District, Bell County, Tex.—Bonds
Voted.—This district has voted to issue $3,500 5% school¬
building bonds, due in 20 years. Total debt, this issue.
Assessed valuation for 1910, $89,575.
Lockney Independent School District (P. O. Lockney),
Floyd County, Tex.—Bonds Not Sold.—Up to Oct. 17 no sale
had yet been made of the $13,500 5% 20-40-year (optional)
building bonds described in V. 91, p. 602.
Los Angeles, Cal.—Cht'ens River Bonds.—In V. 91, p. 353,
we stated that $13,375,600 of the $23,000,000 Owens River
Aqueduct system bonds had been disposed of, whereas the
amount of bonds sold was $14,735,600.
On April 11 1910
$510,000 of the bonds were taken by Kountze Bros, of New
York City and on May 25 1910 $850,000 were purchased by
the City of Los Angeles.
We have just been advised of these
two sales.
Angeles County (P. O. Los Angeles), Cal.—Bond Sale.
$525,000 4*4% gold road bonds described in V. 91,
p. 978, were sold on Oct. 17 to the Harris Trust & Savings
Bank of Chicago.
Maturity $15,000 yearly on Feb. 1 from
Los
—The
1915 to 1949 inclusive.
Louisville, Ky.—Bonds Not to Be
Re-Offered at Present
—
advised, under date of Oct. 14, that the $350,000
4% 10-year gold refunding bonds (tenth issue), offered with¬
out success on Sept. 1 (V. 91, p. 603), will not be placed
on the market again in the near future.
>
Bonds Awarded in Part.—Up to Oct. 14 $306,000 of the
$500,000 4% gold coupon Louisville Water Co. mortgage
bonds, offered without success on July 25 (V. 91, p. 744),
had been disposed of at par and accrued interest.
Maturity
Aug. 1 1950.
Lovell, Big Horn County, Wyo.—Bonds Offered by Bank¬
ers.—In their circular for October the German-American
Trust Co. of Denver is offering to investors $20,000 6% 15-30year (optional) water bonds.
Date Sept. 1 1910.
Interest semi-annually at the City Treasury and In
We
are
New York.
Total debt of town, $25,000 for water purposes.
.
Mallard School District (P. O. Mallard), Palo Alto County,
Iowa.—Bond Offering.—Proposals will be received until 3
p. m. Oct. 24 for $5,000 building bonds.
49 to 18 on Aug. 30 1910.
Interest rate
Authority vote of
to be named in bid.
Mangum, Greer County, Okla.—Bond Sale.—On Oct. 4
the $85,000 25-year coupon water, sewer and city-hall bonds,
bids for which were rejected on Aug. 22 (V. 91, p. 479), were
awarded to the Greer Bond & Investment Co. of Oklahoma
City at 104.94 for 5s.
Denomination $1,000.
Date Oct. 1 1910.
Interest Jan. and July.
Maryland.—Bond Offering.—Proposals will be received
until 12 m. Nov. 22 by Austin L. Crothers, Governor, W. B.
Clagett, Comptroller of the Treasury, and Murray Vandiver,
Treasurer, at Annapolis, for $949,000 3*4% coupon (with
privilege of registration as to principal) State Roads Loan
These securities are the unsold portion
Series “C” bonds.
of the issue of $1,000,000 bonds offered on May 16.
See
V. 90, p. 1379.
Authority an Act of the General Assembly of 1908, Chapter 141. De¬
$1,000.
Date Feb. l 1910.
Interest semi-annually from
Aug. 1 1910.
Maturity Feb. l 1925, subject to call after Feb. 1 1920.
The bonds are exempt from State, county and municipal taxation.
Certi¬
fied check for 10% of bid Is required.
The bonds will be deliverable Dec. 1
Purchaser
to
1910.
pay accrued interest.
nomination
The
official notice of this bond offering will be found among
Department.
the advertisements elsewhere in this
bids
were
received:
A. B. Leach & Co.. Phlla
N. W. Harris & Co., N. Y
J.S.& W.S.Kuhn.Inc. Pltts._$51,170
Lawr.Barnum & Co., Phlla._ 51,090
N. W. Halsey & Co., Phlla.. 51.015
$50,785
50,650
Minneapolis, Minn.—Bond Offering.—Proposals will be re¬
Nov. 10 by Dan. C. Brown, City Comp¬
troller, for $125,000 Permanent Improvement Fund and
$300,000 Permanent Improvement Revolving Fund 4%
ceived until 2 p. m.
bonds.
,
Denominations $1,000, $500, $100 and $50. as purchaser desires.
Date
Nov. 1 1910.
Interest semi-annually In Minneapolis.
Maturity Nov. 1
1911.
Certified check for 2% of bonds bid for, ayable to C. A. Bloom-
qulst. City Treasurer, Is required.
Purchaser to pay accrued interest.
The issues mentioned above were
offered without success
30-year bonds on Sept. 22.
as
Mississippi.—Additional Sales of Bonds.—Reports from
Jackson dated Oct. 13 state that there have been sold $87,000
of the $600,000 4% 20-year bonds.
This is a total of $24,000 sold since the date of our last report (V. 91, p. 821).
Montgomery County (P. O. Dayton), Ohio.—Bond Offer¬
ings.—Proposals were asked for until 10 a. m. yesterday
(Oct. 21) by R. M. Gebhart, G. W. Fair and Frank Munger,
Board of County Commissioners, for $2,300 4J4% coupon
Shock ditch-improvement bonds.
Authority Section 4479, Revised Statutes.
Denomination $400, except
bond of $300.
Date Nov. 1 1910. Interest semi-annually at the
County Treasurer’s office.
Maturity $400 yearly on Nov. 1 from 1911 to
1915 Inclusive and $300 Nov. 1 1916.
Bonds to be delivered Nov. 1. The
result of this offering was not known to us at the hour of going to press.
one
Proposals will be received until 10 a. m. to-day (Oct.
22)
$3,000 5% (county's
portion) grade-crossing-alteration bonds.
by the Board of Commissioners for
Authority Section 8870, General
Code (Section 3337-14, Revised Stat¬
utes).
Denomination $1,000.
Interest semi-annually at the County
Treasurer’s office.
Maturity March 1 1912.
Certified check on a local bank
for $500, payable to the County Treasurer, Is required.
Bidders to satisfy
Pur¬
themselves as to the legality of this Issue before submitting bids.
chaser to pay accrued Interest.
Moundsville, Marshall County, W. Va.—Bond Voted.—
According to reports, an election held Oct. 15 resulted in fa¬
vor of the issuance of $166,900 sewer-system-construction
assessment bonds.
Mt. Pleasant School District (P. O. Mt. Pleasant), West¬
moreland County, Pa.—Bond Sale.—An issue of $10,000 5%
tax-free bonds has been awarded, it is stated, to H. P.
Taylor & Co. of Pittsburgh.
Nashua, Hillsboro County, N. H.—Temporary Loan.—On
Oct. 14 $50,000 notes were awarded to Perry, Coffin & Burr
of Boston at 100.27 for 5s.
Maturity Oct. 1 1911.
New Bedford, Bristol County, Mass.—Bond Sale.—On
Oct. 19 the following 4% registered bonds were awarded to
E. H. Rollins & Sons of Boston at 103.777:
$50,000 00 municipal bonds, due Oct. 1 1920.
38,738 71 Taunton Great River bridge bonds, due on Oct. 1 as follows:
$1,738 71 in 1911, $2,000 yearly from 1912 to 1919 Inclusive
and $1,000 yearly from 1920 to 1940 Inclusive.
Denomination $1,000 or any multiple thereof.
Date Oct. 1 1910. In¬
terest semi-annual.
The bonds are tax-exempt.
A list of the bidders
E. H. Rollins &
Estabrook & Co
Sons
follows:
103.777
103.237
N. W. Harris & Co
R. L. Day & Co
Blodget & Co_
103.098 Hayden, Stone & Co..
102.88 C. E. Denison & Co...
Blake Bros. & Co
102.777 Perry, Coffin & Burr..
Parkinson & Burr
A. B. Leach & Co
102.739 Merrill, Oldham & Co
The above bidders are all of Boston.
102.724
102.599
102.448
102.097
102.014
.101.199
New Philadelphia, Tuscarawas County, Ohio.—Bond Sale.
—On Oct. 17 the $125,000 4*4% water-plant-purchase
bonds described in V. 91, p. 745, were awarded to Hayden,
Miller & Co. of Cleveland at 104.832 and accrued interest.
The foliowing«bids were received:
1116
Hayden, Miller
THE
CHRONICLE
[Yol.
lxxxxi
&
Co., Clev.3131,040 Seasongood A Mayer, Cln_.3130,162
Cits.’ Nat. Bk., New Phlla.
130,825 Prov. Sav. Bk.&Tr.Co.,Cln. 129,256
New First Nat. Bk., Colum.
130,719 E. H. Rollins & Son, ChlC-_ 127,962
Well, Roth & Co., Cincln..' 130,512
Kaldenbaugh Bk., New Phil. *50,965
were
New Rochelle, Westchester County, N. Y.—Bond
Offering.
—Proposals will be received until 8:15 p. m. Oct. 25 by
Edward Stetson Griffing, City Comptroller, for
$46,000
43^% registered public-improvement “Series A” bonds.
Denomination 31,000. Date Nov. 1 1910. Interest
semi-annually at
the City Treasurer’s
office, or by mall to registered holder In New York
exohange. Maturity 36,000 yearly on May 1 from 1913 to 1919 Inclusive
and 34,000 May 1 1920.
Certifled check on an Incorporated bank In New
York State or on any national bank (or cash) for
2% of bonds bid for,
payable to the olty. Is required.
Bonds will be certifled as to their genuine¬
ness by the United States
Mortgage & Trust Co. of New York City, and
the legality approved by Caldwell & Reed of New York
City, whose opinion
will be furnished to the purchaser.
Bids to be made on blank forms fur¬
nished by the city on request.
Delivery Nov. 1 1910.
Niles, Trumbull County, Ohio.—Bond Sale.—On Oct. 18
the $75,000 4 \i% coupon
water-improvement bonds de¬
scribed in V. 91, p. 979, were awarded to the New First
Na¬
tional Bank in Columbus at 103.161 and accrued
interest.
The following bids were received:
New
FirstNat.Bk., Colum.377,371
50
Hayden, Miller & Co.,Clev.77,122 00|Tillotson&WolcottCo.,C!ev376,762
001 Weil, Roth & Co., Cincln.
Seasongood & Mayer, Cln_ 76,911 00|C. E. Denison & Co., Clev. 76,687 50
76,582 75
Maturity 33,500 yearly on Sept. 1 from 1930 to 1949 inclusive and
35,000
Sept. 1 1950.
Ocean Park, Los Angeles
County, Cal.—Bond Sale.—An
issue of $11,074 93 7% 10-year Waldo Street
improvement
assessment bonds has been
disposed of to Joseph G. Braun,
contractor, in payment for the work.
Oklahoma City School District (P. O. Oklahoma
City),
Okla.—Bond Sale.—The $135,000 20-year
school-building
of
Racine, Wis.—Bond
*Fcr 350,000 bonds.
Maturity 31.000 Oct. 1 1913, 31,500 each six months from April 1 1914 to
Oct. 1 1915 inclusive, 32,000 each six months from
April 1 1916 to Oct. 1
1919 inclusive, 32,500 each six
months from April 1 1920 to Oct. 1 1931
Inclusive and 342,000 April 1 1932.
awarded, it is stated, to E. H. Rollins A Sons
Boston at 100.55.
Sale.—An issue of $21,000
4^%
sold on Oct. 14 to the Harris Trust &
Bank of Chicago at 101.714. A list of the bidders
cemetery bonds
Savings
follows:
was
Harris Trust & Sav. Bank 321,360 00 Thos.
J. Bolger Co
321,231 00
A. B. Leach & Co
21,357 00 Farson, Son & Co
21,150 00
N. W. Halsey..
21,327 00 S. A. Kean & Co
21,054 60
Devltt, Tremble & Co
21,280 00 E. H. Rollins & Sons
O21.000 00
First Trust & Savings Bank 21,262 50
a*Less 3200 for Incidental
expenses In handling the Issue.
The above bidders are all of
Chicago.
Denomination 31.000.
Date
Nov. 1 1910.
Interest Is payable at the City Treasurer’s office.
Ma¬
turity 32,000 on Nov. 1 1911 and 31,000
yearly on Nov. 1 from 1912 to
1930
inclusive.
Roanoke, Va.—Bond Sale.—The four issues of 43^% 30year coupon bonds,
aggregating $500,000, bids for which
rejected on June 1 (V. 91, p. 418), have been sold as
follows: $410,000 awarded to N. W. Harris & Co.
of New
were
York, $75,000 sold to Francis Bros. & Co. of St. Louis at
$15,000 disposed of to the Sinking Fund at par.
Ronan School District (P. O.
Ronan), Missoula Oounty,
Mont.—Bond
par and
Sale.—The State of Montana has
purchased
$15,000 bonds of this district.
Roxboro, Person Oounty, No. Caro.—Bonds Not Sold.—
No satisfactory bids were received on
Oct. 10 for the $25,000
5% 30-year coupon water and
street-improvement bonds
described in V. 91, p. 900.
They are now being offered at
private sale.
St. David School District No. 87
(P. O. St. David), Ful¬
ton County, HI.—Bond Sale.—We
are advised that on June
25 $8,000
1-16-year (serial) school-building bonds were
awarded to C. H. Coffin of
Denomination 3500.
Chicago at 100.20;
Date
Aug. 1 1910.
Interest semi-annual.
Chicago and A. J.
McMahan of Oklahoma City for
$136,284 (100.951) and
accrued interest for 5s.
Salem, Ore.—Bond Sale.—An issue of $20,000 5%
10-year
coupon refunding bridge bonds offered on Oct. 8 was
pur¬
chased by E. H. Rollins & Sons of Denver at
101.625—a
basis of about 4.74%.
Interest semi-annual. Date Oct. 8
Osyka, Pike County, Miss.—Bond Sale.—On Oct. 11 the
$20,000 6% 20-year coupon water-works and electric-lightbonds described in V. 91,
p. 979, were awarded to John Nuveen & Co. of
Chicago at par and accrued interest. Pur¬
Saratoga County, N. Y.—Bond Sale.—On Oct. 14 the
$50,000 5% road bonds described in V. 91, p. 823, were sold
to Spitzer & Co. of New York
City at 107.046—a basis of
about 4.194%.
A list of the bidders follows:
bonds offered on Oct. 3 and described in V.
91, p. 899, were
sold to Woodin, McNear & Moore of
chaser also to furnish blank bonds.
Palestine, Anderson County, Tex.—Bids Rejected.—All
bids received on Oct. 17 for the
$17,000 public-park and the
$9,000 fire-equipment 5% 10-40-year (optional) bonds, de¬
scribed in V.
91, p. 899, were rejected.
Passaic, Passaic Oounty, N. J.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Oct. 28 by John E.
Ackerman, City Treasurer, for $103,000 school and $70,000
funding 4^% gold coupon (with privilege of registration)
bonds.
Spitzer & Co., New York.-107.046
Parkinson & Burr, N. Y
107.0333
Farson, Son A Co., N. Y
106.93
W. C. Langley & Co., N. Y.106.63
W. N.Coler 4s Co.. N. Y .-.106.63
E. H. Rollins A Sons. Bost.106.61
N. W. Harris A Co., N. Y_.106.594
Estabrook & Co., N. Y
106.55
N. W. Halsey & Co.. N. Y..106.542
Rhoades & Co., New York-.106.467
Adams A Co., New York
106.45
I. W. Sherrill, Poughkeepsie 106.37
Chisholm & Chapman,N.Y. 106.3416
Maturity 320,000
on
Denomination 31.000. Date Oct. 1 1910. Interest
semi-annually at the
People’s Bank 6s Trust Co. in Passaic. The 3103,000
Issue matures
Oct. 1 1940 and the 970,000 Issue Oct. 1
1935.
Bonds are exempt from
taxation In New Jersey.
Certifled check for 5% of Issue, payable to
the
“City of Passaic,” Is required.
Peru, Miami County, Ind.—Bond
that $8,000 4% refunding bonds were Sale.—Reports state
recently awarded to
the Fletcher National Bank in
Indianapolis.
Phoenixville School District (P. O.
Phoenixville), Chester
County, Pa.—Bonds Awarded in Part.—An issue of
$100,000
4% registered school-building bonds is being
of from
disposed
time to time.
Denominations “3100 and upward.”
Interest June 1
turity part on June 1 in each of the years 1920, 1930
call, however, whenever there are funds In the
to
and Dec. 1.
Ma¬
and 1940, subject
treasury.
Pigeon, Huron County, Mich.—Rond Sale.—On Oct. 17
the $14,000 5% coupon
water-works-construction bonds de¬
scribed in V. 91, p. 899, were awarded to
the Detroit Trust
Co. in Detroit at 106.70 and accrued
interest. The bids re¬
ceived were as follows:
Detroit Trust Co., Detroit 914,938
Thos. J. Bolger Co., Chic. 14,425
Farwell Trust Co., Chicago 14,255
E. B. Caldwell&Co., Det. 14,191
H. W. Noble & Co., Detroitl4,187
00
00
00
00
C. H.
Coffin, Chicago
314 ,141 00
Ulen, Sutherlin & Co., Ch_ 14 ,113 25
W. E. Moss & Co., Detroit
14 ,102 17
Coffin
&
Crawford, Chicago 14 .028
35
60 S. A. Kean &
Pigeon State Bank, Pigeon 14,150 00 Farson, Son &Co., Chicago 14 ,009 80
Co., Chic.. 14 ,000 00
First Nat. Bank, Detroit. 14,145 00 R. T.
Rohlen, Muir
14 ,000 00
Maturity 3500 yearly on Sept. 1 from 1914
to 1927 inclusive and
31,000
yearly on Sept. 1 from 1928 to 1934 Inclusive.
Plains
Township School District (P. O.
Luzerne
Oounty, Pa.—Bonds Awarded in Part.—Of Plains),
the $60,000 5%
coupon school-building bonds offered on Oct. 1 and
described
in V. 91, p. 822, $30,000 have been
awarded, according to
local
papers, to H. P. Taylor & Co. of
Pittsburgh.
Pocatello, Bannock County, Idaho.—Rond
$164,788 trunk-sewer bonds offered on Oct. 6 andSale.—The
described
in V. 91, p. 746, have been awarded to
Weil, Roth & Co.
of Cincinnati at
par
and interest for 5s.
Maturity Jan. 1
1931, subject to call after Jan. 1 1921.
Port of Portland (P. O.
Portland), Ore.—Bond Sale.—The
$72,000 6% gold bonds offered on Oct. 13 and described
in
V. 91, p. 822, were awarded to C. C.
Harrison Jr. & Co.
of Philadelphia as follows:
$50,000 at 101.39, $15,000 at
100.557 and $7,000 at 102.019.
Accrued interest was also
paid by successful bidder. One other offer of
par was re¬
ceived from the Security
Savings & Trust Co. of Portland.
Quincy, Norfolk County, Mass.—Bond Sale.—The $6
000
1-6-year (serial) and $4,000 1-4-year
(serial) 4% sewer
bonds described in V. 91,
p. 1051, and offd$$d on Oct. 17
1910.
Nov.
1
on
1922.
Kountze Bros., New York..106.063
Blodget & Co., N«w York—106.04
Hudson City Sav. Inst.,Hud 106.01
Seasongood A Mayer, Cine. .105.66
O’Connor A Kahler, N. Y.. 105.56
A. B. Leach & Co.. N. Y--.105.417
John J. Hart, Albany
105.41
J. R. Magoffin. New York..105.36
Kissel,KwnicuttACo.,N. Y. 104.50
W. W. Allen,
f35,000.. 107.00
Saratoga Spgs.| 5,000..106.00
Whiteside, Cham¬
Frank
plain
(35.000)
101.50
Nov. 1 in each of the years 1920 and 1921 and
910,000
Scranton School District (P. O. Scranton), Pa.—Bond
Of¬
fering.—Proposals will be received until Oct. 24 for $50,000
4% coupon permanent-improvement bonds due Sept. 1 1931.
These bonds are part of an issue of
$150,000, of which $100,000, due $50,000 Sept. 1 1916 and $50,000 Sept. 1 1921, will
be taken
by the Sinking Fund.
Denomination 31.000.
Date Sept. 1 1910.
Interest semi-annually In
Scranton.
Bonds are exempt from taxation.
E. D. Fellows Is Secretary
of the Board of Control.
South Haven, Van Buren Oounty, Mich.—Bond Sale.—
This city has disposed of $54,000
refunding bonds to the
holders of the original issue.
Springfield, Greene County, Mo.—No Action Yet Taken—
Up to Oct. 17 nothing had yet been done in regard to hold¬
ing the election to vote on the $475,000 bonds mentioned in
V. 91, p. 747.
Starkville, Oktibbeha County, Miss.—Bond Sale.—On
Oct. 15 the $14,000 school-building and
improvement and
$2,000 street-improvement 6% 20-year coupon bonds de¬
scribed in V. 91, p. 980, were awarded to
Ulen, Sutherlin &
Co. of Chicago for $16,527 50 (103.296) and accrued interest.
Tacoma, Wash.—Bond Election Postponed.—The election
which was to have been held Oct. 8
the propositions to issue the
on
(V. 91, p. 901) to vote
following bonds was post¬
poned until Oct. 29: $475,000 Eleventh Street bridge bonds,
$405,000 dock bonds, $68,000 Puyallup bridge bonds and
$75,000 fire-tug bonds.
Townsend, Broadwater County, Mont.—Bonds Not Sold.—
No sale has yet been made of the $35,000
43^% 20-year wa¬
ter-works bonds offered on Sept. 15 (V. 91,
p. 604).
We are
informed that they will be re-advertised for sale.
Trenton, N. J.—Bonds Refused.—The $50,000 4^% har¬
bor bonds awarded on Sept. 15 to N. W. Harris & Co. of
New York City at 103.923 (Y. 91, p. 747) have been refused
by that firm.
Tryillo School District, Riverside County, Cal.—Bond Sale.
—On Oct. 5 the $2,000 5% 2-9-year (serial)
building bonds
mentioned in V. 91, p. 355, were awarded to the Riverside
Savings Bank & Trust Co. at 100.55.
Denomination 9250.
Date Sept. 7 1910.
Interest semi-annual.
Vernon Parish (P. O. Leesville), La.—Bond
Offering.—
Further details are at hand relative to the
offering
on Oct. 26
of the $40,000 5% coupon
bonds mentioned
school-building
in V. 91, p. 1052.
Proposals will be received for these bonds
by W. L. Ford, Parish Superintendent of Education.
Oct. 22
1117
THE CHRONICLE
1910.]
Canada9 Its Provinces and Municipalities.
Boissevain, Man.—Debentures Authorized.—The issuance
Warrenton, Fauquier County, Va.—Price Paidfor Bonds.—
of
$5,000 5% registered town-hall-improvement debentures
We are advised that the price paid for the $15,000 5% 10-30has been authorized.
year (optional) coupon reservoir bonds disposed of at private
Date Nov. 1 1910.
Interest annually at the Union Bank of Boissevain.
sale on Sept. 1 (V. 91, p. 1052) was par.
Maturity part yearly on Nov. 1 from 1911 to 1930 inclusive. The deben¬
Washington County (P. O. Washington), Pa.—Bonds tures are tax-exempt. Debenture debt, including this issue, $43,332. No
floating debt. Assessed valuation for 1910 $409,635.
Awarded in Part.—Of the $50,000 4% 21-year coupon (with
Bridgeburg, Ont.—Debenture Sale.—The $10,000 5% lo¬
privilege of registration) road bonds (the unsold portion of
the issue of $100,000 bonds mentioned in V. 91, p. 1052), cal-improvement debentures payable in ten annual install¬
ments offered on Oct. 19 (V. 91, p. 1054), were awarded to
$25,000 have been sold, according to reports, to W. F. Smith Geo. A. Stimson & Co. of Toronto at 98.65 and accrued in¬
Denomination $500.
Interest annually In
debt at present.
Assessed valuation In 1910
No
February at Leesville.
$854,962.
& Son at par.
Watertown, Middlesex
Oct. 19 $5,500 sewerage
that day were
notes offered on
Estabrook A Co
Blake Bros. A Co
E. H. Rollins A Sons
Geo. A. Fernald A Co
Old Colony Trust Co
Adams & Co
The above bidders are
Date Sept. 1 1910.
Boston.
The notes
102.813
102.77
102.77
102.682
102.528
R. C. Matthews & Co., Tor..$9,8651
A bid was also received from W. A.
purchased by E. M. Farns¬
worth & Co. of Boston at 103.03—a basis of about
Following are the bids:
A Co
E. M. Farnsworth A Co
103.03 Blodget
Hlgglnson A Co
Hayden, Stone A Co
102.92 Lee,
R. L. Day A Co
follows:
$9,853
Brent, Noxon & Co., Tor
Mackenzie A Co., Toronto.
Caradoc Township (P. O. Strathroy), Ont.—Debenture
Sale.—The following 5% drainage debentures offered on
Oct. 1 were sold to Wm. Blair of Caradoc Township:
$1,090 debentures, dated Dec. 15 1909 and due part yearly for 5 years,
awarded for $1,101—the price thus being 101.009.
696 debentures, dated Dec. 15 1909 and due part yearly for 3 years,
awarded for $700 40—the price thus being 100.632.
417 debentures, dated May 1910 and due part yearly for 3 years, sold
for $420—the price thus being 100.719.
530 debentures, dated Aug. 20 1910 and due part yearly for 3 years,
disposed of for $535—the price thus being 100.943.
538 debentures, dated Aug. 20 1910 and due -part yearly for 3 years,
sold for $542 82—the price thus being 100.895.
3.636%.
102.418
102.21
102.199
102.073
101.829
Perry, Coffin A Burr
Merrill, Oldham A Co
Kuhn, Fisher A Co
C. E. Denison A Co
Other bids received were as
terest.
County, Mass.—Note Sale.—On
and $3,500 drainage 4% 10-year
101.553
101.511
102.51
all of Boston. Denomination $1,000 and $500.
Interest semi-annually at the Fourth National Bank of
are tax-exempt In Massachusetts.
Purchaser to pay
accrued Interest.
Weymouth), Franklin County,
Debenture Offering.—Proposals will be received until
Mass.—Temporary Loan.—A temporary loan of $10,000 has Nov. 1 for $2,000 4J^% 10-year school debentures.
been awarded, according to reports, to Blake Bros. & Co. of
Etobicoke, Ont.—Debenture Sale.—It is reported that
Boston at 4.18% discount.
Loan matures July 26 1911.
Brent, Noxon & Co. of Toronto recently bought $13,375 5%
White Salmon Irrigation District (P. O. White Salmon), debentures.
Klickitat County, Wash.-—Bonds Not Sold.—The $60,000
Gainsborough School District, S&sk.—Debenture Offering.
6% gold coupon bonds offered on Oct. 12 and described in
—Proposals
were asked for until yesterday (Oct. 21) by
V. 91, p. 825, were not sold.
Chas. S. E. Morris, Secretary-Treasurer, for $1,700 6%
Woodbury County (P. O. Sioux City), Iowa.—Bonds Not debentures, re-payable in fifteen annual installments. The
Sold.—All bids received on Oct. 15 for the $75,000 5-9-year result of this offering was not known to us at the hour of
(serial) Garretson Drainage District No. 1 assessment im¬ going to press.
provement bonds described in V. 91, p. 1053, were returned
Kemptville, Ont.—Debenture Sale.—The $6,000 5% de¬
to the bidders unopened, as it was found that the money
Weymouth (P. O. South
bentures offered on Oct. 1 (V. 91, p. 749) were awarded to
G. A. Stimson & Co. of Toronto at par.
Maturity $3,500 in
20 annual installments and $2,500 in 15 annual installment
would not be needed until next spring. We are advised that
the bonds will be re-advertised for sale as soon as the money
is required.
8949,000
STATE OF MARYLAND
825,000
Village of Briarcliff Manor, Town of Conrad, Montana,
820.000 OO
Westchester County, N.
TREASURY DEPARTMENT,
Annaftolls, October 20, 1910.
THE STATE ROADS LOAN
The undersigned, Governor, Comptroller and
Treasurer of the State of Maryland, in pursuance
of an Act of the General Assembly of Maryland
of 1908, Chapter 141, will receive
~
$949,000
proposals for
Series ”C” of the said Loan, being
said Series ”C”.
Loan” will be dated February
1, 1910, bear interest from August 1, 1910, at the
rate of Three and One-Half Per Centum per
annum, payable semi-annually on the first day
of February and August in each and every year,
and the principal will be redeemable at the pleasure
of the State after the first day of February in the
year 1920, and the whole debt will be payable on
the first day of February, 1925.
Tne debt Is
balance unissued of
“The State Roads
exempted from State,
county and municipal
taxation and will be issued In bond form, with
coupons attached.
Said proposals must be delivered, sealed, to
the Treasurer of the State, at Annapolis, ON
OR BEFORE 12 O’CLOCK NOON OF THE
TWENTY-SECOND
DAY OF NOVEMBER,
1910, and must be at a prioe, accrued interest to
date of delivery In all cases to be added thereto,
and have endorsed on the back of the envelope
"Proposals for the State Roads Loan.”
Each
bid must be accompanied with a certified check
on
some
responsible banking institution for
10 per cent or the amount of such bid, and the
same will be opened in the office of the State
Treasurer, In the City of Annapolis, at 12 o’clock
noon, November 22nd, 1910, in the presence of
the undersigned.
On the opening of such proposals so many of
said
coupon
bonds as have been bid for, not
exceeding, however, the amount for which
proposals are Invited, may be awarded by said
Governor, Comptroller of the Treasury and
Treasurer, or a majority of them, to the highesst
responsible bidder or bidders for cash; and when
two or more bidders have made the same bid,
which bids are the highest, and If the amounts
so bid for by the highest responsible bidders are in
excess of the whole amount of said bonds so
offered for sale, then such bonds may be awarded
to such highest responsible bidders bidding the
same
price in the proportion which the amount
has bid for bears to the whole amount of
each
said bonds so offered for sale.
These bonds will be Issued In the denomination
of $1,000 and subject to registration as to principal,
and will be deliverable December 1st, 1910, at
the office of the State Treasurer, in the City of
Annapolis.
The right la reserved to reject any and all bids.
AUSTIN L. CROTHERS,
WATER WORKS
Comptroller of the Treasury.
MURRAY VANDIVER,
Treasurer.
R. T. Wilson & Co.
NEW YORK
BONDS
Y.,
Notice is hereby given that the Town
BONDS
Please take notice that sealed proposals will be
received at the office of the Clerk of the Village
of Briarcliff Manor, Westchester County, State of
New York, up to the hour of four o’clock in the
afternoon on the 26th day of October, 1910, for
the purchase of
of the Village of
bonds
all or any part of twenty
Briarcliff Manor, each in the de¬
nomination of $1,000 00, numbered consecutively
from one to twenty. Inclusive, payable Interest and
principal In New York City
exchange to registered
follows
No. 1 due and payable Sept 1st 1915, and one
thereof In each year until Sept. 1st 1934.
owner as
paid semi-annually
Interest on said bonds will be
on the first days of March ana September,
bonds will be sold to the person or persons
nor
at a rate
of interest exceeding five per
considered.
per annum will be
A deposit by certified check
to 5% of amount of bid will
or
centum
curity for the completion of the purchase, to be
applied on the purchase price If bid be accepted
In whole or part and returned if bid be rejected.
adjusted as of Sept. 1st 1910.
WILLIAM H. COLEMAN,
Village Clerk,
Briarcliff Manor, N. Y.
Interest will be
City.
**Dated, October 11th
F. WM.
$3,000 In five years; $10,000 in fifteen years;
appli¬
Bald¬
York
1910
Town Clerk.
Dated, Conrad, Teton County,
Specializing in Examination
Municipal and Corporation
8500,000
City of Atlanta, Georgia,
4y2% BONDS
Sealed bids will be received until noon, TUES¬
DAY, NOVEMBER 15th 1910, for all or any
part of $500,000 City of Atlanta, Georgia, 4)4%
bonds.
For full Information and bidding blank,
apply to
H. GOLDSMITH,
J.
City Comptroller,
Atlanta, Georgia.
PORBEST &, CO.
Ml Chestnut St..
Bonds
MUNICIPAL BONDS
Safest Investments
known.
RAILROAD
BONDS
APPLICATION
SEAS0NG00D & MAYER
MtrcantU* Library Building
0DT0 INN ATI
PHILADELPHIA. PA.
Municipal and
Corporation Bonds
of
FIRST NATIONAL BANK BLOG..
CHICAGO, ILL.
LIST ON
October 12, 1910
BANKERS
KRAFT
MUNICIPAL AND
of
$1,000 each, not to exceed 6 per cent interest,
payable semi-annually.
The Town Clerk will receive bids for same up to
and including NOVEMBER 19, 1910, at his office
In Conrad, Montana.
The right is reserved to refuse any and all bids.
EDWIN A. PETTIGREW,
LAWYER
ISIS
and
the balance at the expiration of twenty years.
Said bonds to be issued in denominations
cash equivalent
be required as se¬
Further particulars will be forwarded on
cation to the Clerk, or William Woodward
win, Attorney, No. 2 Rector Street, New
of Conrad
will offer for sale to the highest bidder bonds in
the sum of Twenty-Five Thousand ($25,000)
dollars.
Said bonds redeemable as follows:
said
who
will take them at the lowest rate of interest, and
interest will be adjusted as of September 1st 1910.
The Village reserves the right to reject or reduce
the amount of any proposal, and no proposal for
the purchase of said bonds for less than par value
Governor.
W. B. CLAGETT,
$3 WALL STREET
NEW LOANS.
NEW LOANS.
NEW LOANS.
Write for
AQjL ffl
Circular.
Yielding from
ULEN, SUTHERLIN & CO.
CHICAGO
BANKERS
■STAB LISH BD IMft
H. C SPEER & SONS CO.
First Nat Bank Bldg.,
Chicagt
SCHOOL,
MUNICIPAL BONDS
COUNTY AND
1118
THE
CHRONICLE
Kincardine Township, Ont.—Debenture Sale.—On Oct. 10
$3,000 4 Y^% 15-year school debentures offered on that
day (V. 91, p. 902) were awarded to the Dominion Securities
Corp. of Toronto for $2,920 (97.333) and accrued interest.
the
The other bids
were as
follows:
(VOL.
LXXXXI
Red Deer, Alberta.—Tenders
Rejected.—The Council has
decided to reject the bids received on Oct. 1 for the
5% debentures (6 issues) offered on that day. A list$22,000
of the
bids received will be found in V.
91, p. 1055.
Renfrew, Que.—Hydro-Electric Debentures Withdrawn from
Market.—The $117,000 4J^% 30-year power
development
debentures offered on Oct. 8 (V. 91,
Kinistino School District No. 42 (P. O.
p. 903) have been with¬
Kinistino),
Sask.—
drawn from the market, it is stated
Price Paid for Debentures.—We are advised that the
price
Sale of School Debentures
paid for the $4,000 6% coupon school-building debentures
Pending.—It is further stated
that negotiations are
being carried on for the sale of the $36,recently awarded to Nay & James of Regina (V. 91, p. 983) 000
4)^% 30-year public-school debentures also offered on
was 100.675.
G. A. Stlmson & Co.,
Tor.$2,899 501 Brent, Noxon & Co., Toro.$2,888 00
Ontario Securities Co..
Toro2,897 00|C. H. Burgess & Co., Toro. 2,887 00
Oct. 8.
Montreal Protestant School District (P. O.
Montreal),
Que.—Debenture Sale.—Of the $350,000 4%
gold debentures
offered on Oct. 17, and described in V.
91, p. 902, $50,000
were awarded to the
Sinking Fund at par and $300,000 were
sold to Hanson 6ros. of Montreal at 97.53.
A list of the
bidders follows:
Sink. Fd. (for $50,000 debi.)
par
Hanson Bros., Montreal
97.53
Royal Secur. Corp., Montreal.97.52
Ontario Secur. Co., Toronto..97.07
Wood, Gundy & Co., Toronto.96.30
N. W. Harris & Co., Boston..96.189
Maturity Jan. 1 1939.
Wm. A. Read & Co., Boston._96.06
G. A. Stlmson & Co., Toronto_96.05
Brent, Noxon & Co., Toronto.95.923
R. Wilson Smith, Montreal
95.27
C. Meredith & Co., Ltd.,
Mont.93.50
Prince
Albert, Sask.—Debentures Voted.—The by-laws
providing for the issuance of the following debentures were
favorably voted upon at the election held Oct. 7 (V. 91, p.
903):
$110,000
debentures due Oct. 10 1950.
Vote 101 to 11.
7,000 power-house debentures due Oct. 10 1940.
Vote 103 to 7.
10,000 clty-hall-lmprovement debentures due Oct. 10
1930.
Vote 67 to
43.
sewer
26.S00 water-works-system-extension
debentures due Oct. 10
Vote 103 to 7.
12,000 flltratlon-plant-lnstallation debentures due
Oct. 10 1940.
106 to 6.
1940.
Vote
The $110,000 debentures carry annual
Interest at the rate of 4 H%. while
the remaining Issues bear 5%
Interest,
seml-annually. Interest
is payable at the Imperial Bank of Canadapayable
in Prince Albert.
Debentures Authorized.—On Oct. 10
a
providing for the issuance
by-law
was
passed
of $4,200 5%
sewerage-systemextension debentures.
Interest April 10 and Oct. 10 at the.
Imperial Bank of Canada in Prince Albert.
Maturity
Oct. 10 1940.
Saskatoon, Sask.—Debentures Voted and Sold.—The propo¬
sitions to issue the
$26,000 electric-light and
water¬
works 4)^% 30-year debentures mentioned in $12,000
V. 91, p. 827,
carried by a vote of 44 to 4 at the election
held Sept. 27.
These issues are included in the
$621,000 debentures that
were awarded on
Aug. 1 to Wood, Gundy <fc Co. of Toronto.
See V. 91, p. 484.
Strome, Alberta.—Debenture Sale.—Nay & James of
Regina are reported as having purchased $1,500 6%
10-year
debentures.
Swift Current, Sask.—Debentures Not
Sold.—The $33,300
sewage-disposal-works and $71,500 water-works 5% 40-year
debentures offered on
that
day.
Oct. 11 (V. 91, p. 827) were not sold
on
Thombury, Ont.—Debenture Sale.—The $5,000 5% 20agricultural-building debentures offered on Oct. 8
year
(V. 91,
p. 903) were purchased by C. H.
Burgess & Co. of
Toronto at 98.86 and accrued interest. The
debentures are
dated July 15 1910 and are
from
taxation.
exempt
Inter¬
est annually in
Thornbury at the Bank of Toronto.
Westmount, Que.—Tenders of Debentures Requested.—
m. Nov. 1
by the Sinking
Fund Commissioners at the office of the
Montreal Trust Co.,
Royal Insurance Chambers, Montreal, for the sale to the
Tenders will be received until 12
city of from $25,000 to $30,000 of its outstanding debentures.
Woodstock, Ont.—Debenture Sale.—This place, it is
stated,
has sold $7,078 4J^% debentures to the
DominionJSecurities*
Corporation of Toronto.
MISCELLANEOUS.
MISCELLANEOUS.
Reynolds, Watson & Co.
Mmicipal and Cirjwratini Bonds
MELLON NATIONAL BANK
We offer
PITTSBURGH, PA.
a
DRAINAGE BOND
As your reserve
depositary, this
bank offers you perfect service and
liberal interest
CAPITAL AND
on
your
very exceptional
NETTlNe
6%
balances.
SURPLUS,
400 The
17,000,000
Rookery
OHIOAQO
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDINO
OHIOAQO
BLODGET & CO.
The
Trust
Company of America
37-43 WALL
COLONIAL BRANCHi
222
BONDS
8TREET, NEW YORK.
LONDON OFFICEi
Broadway, New York.
95 Gresham St.
90 STATE
90 PINE
Executes trusts of
& RAILROAD BONDS
McCOY & COMPANY
Municipal and
Corporation Bords
Invites accounts of individuals firms and
corporations.
on
STREET, NEW YORK
STATE, CITY
CAPITAL AND SURPLUS $8,000,000
Pays interest
STREET, BOSTON
daily balances.
every description
1S1
La Salle
Street, Chloage
H8DENPYL, WALBRIDGE ft CO.
7 Wall S«.a
Established 1864
Telephone 2817 Reetoi
INSURANCE STOCKS
Fidelity, Phoenix, Home,
Niagara, Continental, &o,
BOUGHT AND SOLD
E. S. BAILEY
69 BROADWA k
NEW TORE
Naw York
Railroad, Street Ry., Gas A See. Light
WANTED
CHRONICLE ISSUES
Jan. 8 and 29, 1910
Will pay 20 cents a
copy.
Commercial & Financial
Chronicle^?
138 Front St., New Tork
SECURITIES
OTTO JULIUS MERKEL
BROKER
A4 AND 4C WALL STREET. NEW YORK
INVESTMENT SECURITIES
Owm—4—t IiTttnd.
THE CHRONICLE
Oct. 22 1910.]
XT
ffittSttctal.
ginanicisl.
OFFICE OF THE
bankers, brokers and
Investors have constantly before them
The moot conservative
BABSON’S REPORTS
ON
Fundamental Conditions
Reports or our
"Business Barometers” (which we Install In banks
both for their own and customers' use) address
Babson’s Compiling Offices, Wellesley Hills, Mass.
For details concerning these
NEW YORK OFFICE. 24 STONE
STREET
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 21st, 1910.
The Trustees, in conformity *oith the Charter of the Company, submit the following statement of its
on the 31tf of December, 1909.
Premiums
Premiums
Marine Risks from 1st January, 1909, to 31st December, 1909
Policies not marked oil 1st January, 19C9
...33,759,391 25
717,712 70
Total Marine Premiums
34,477,103 95
Premiums marked off from 1st January, 1909, to 31st December, 1909......
Interest received during the year
Rent less Taxes and Expenses
9322.046 46
145,679 62
...33.791,557 05
3467,726 20
Losses paid during the year which were estimated in 1908
and
in the U. S.
Lsrfrat Statistical Organization
on
on
affaire
previous
3829,378 19
1,149,459 56 31,978,837 75
years
Losses occurred, estimated and paid in 1909
Less Salvages
Re-Insurances
3249,891 07
235,520 48
485.411 55
"
$1,493,426 20
Returns of Premiums
6% BONDS
Of
Electric Railway
and Lighting Co.
Large City—State Capital
Earnings about 3 times interest charges.
Dividends on stock. Present price very low.
W.E. HUTTON A CO.
Members New York Stock Exchange
Established 1886
26 Broad Straat.
-
$60,285 14
Expenses, including officers' salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
Naw York
Private wires to Cincinnati. Chicago, San
Francisco and Los Angeles.
ASSETS,
United States A State of New York
Stock, City, Bank and other Se¬
curities
$5,461,042 00
Special deposits in Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall A William Sts.,
A Exchange Place.$4,299,426 04
Other Real Estate A
claims due the com¬
pany
75,000 00 4,374,426 04
_
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay losses under poli¬
cies payable in foreign countries.
Cash In Bank
Aggregating
THE AMERICAN MFG. CO
MANILA. SISAL AND JUTE
CORDAGE
65 Wail Street
New York
JOHN P. MUNN, M. D., President.
_
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN.
GEORGE C. CLARK.
CLEVELAND H. DODGE.
CORNELIUS ELDERT,
RICHARD H. EWART.
PHILIP A. S. FRANKLIN.
HERBERT L. GRIGGS.
Nederlandsch Admmistratie- & Trustkantoor
(NETHERLANDS ADMINISTRATION A TRUST COMPANY)
2i5 Slngel - AMSTERDAM. (Holland.)
H. MEINfcSZ, President
Board of Directors!
H. WALTER. L. D..
de Kock A
A. A. H. BOISSEVAIN.
Director of Swiss Bankvereln and
of Labouchere, Oyens A Co’s Bank.
J. A. DUYNSTEE,
Telders A Co.
F. Th. EVERARD.
Banker.
P. M. J. GILI5SEN.
Jwccomtiatils.
Ph. MEES.
R. Mees A Zoonen.
H. MEINESZ.
President.
G. H. DE MAREZ OYENS.
Labouchere, Oyens A Co’s Bank.
A. L. G. H. PICHOT
Westerwoudt A Co.
W. M. SCHEURLEER.
Scheurleer A Zoonen
Acts as Executor,
Acts as Trustee of
ROSS BROS A
MONTGOMERY
.
Chairman,
Uyt den Bogaard.
Arnold GUlssen.
AUG. KALFF.
Jan Kalff A Co.
„
LYBRAND,
G. STANTON FLOYD-JONES. Seseeiary.
TRUSTEES.
DALLAS B. PRATT,
CLEMENT A. GRISCOM,
ANSON W. HARD.
GEORGE W. QUINTABD.
LEWIS CASS LED YARD,
A. A. RAVEN.
CHARLES D. LEVERICH,
JOHN J. RIKBR,
DOUGLAS ROBINSON,
LEANDER N. LOVELL.
GUSTAV H. SCHWAB.
GEORGE H. MACY,
CHARLES H. MARSHALL.
WILLIAM SLOANS.
NICHOLAS F. PALMER,
ISAAC STERN,
WILLIAM A. STREET,
HENRY PARISH.
ADOLF PAVENSTEDT.
GEORGE E. TURMURE.
CHARLES M. PRATT,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2d Vice-President.
CHARLES E. FAY. 3d Vise-President.
JOHN H. JONES STEWART. 4th Vice-President*
Finance Committee
paay, for a limited territory if desired, and secur*
for themselves. In addition to first year's commit
■Ion, a renewal Interest tnsurtng an Income for th«
future.
Address the Company at Its Homo Office
No. 377 Broadway. Now York City
..911,260,125 70
Aggregating
By order of the Board.
CLARENCE H. KELSEY. Prei. TitleGu.ATr.Oe.
WM. H. PORTER. Pres. Chemical National Bank
■D. TOWNSEND, Pres. Imp. & Traders Nat. Bk
Good men, whether experienced |n life lnsuraam
or not. may make direct contracts with this Com-
239,948 04
633,405 13
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the first of February next.
The outstanding certificates of the Issue of 1904 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the first of February next, from which date all
Interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the net earned premiums of the Company fer the year
ending 31st December, 1909, which are entitled to participate in dividend, for which, upon appli¬
cation, certificates will be Issued on and after Tuesday the third of May next.
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Isaacs Guaranteed Contracts
LIABILITIES,
Estimated Losses and Losses Un¬
settled
$2,393,297 00
485,546 90
Premiums on Unterminated Risks.
Certificates of Profits and Interest
263,468 95
Unpaid
Return Premiums Unpaid
120.569 41
Certificates of Profits Ordered Re¬
deemed. Withheld for Unpaid
Premiums
22.353 40
Certificates of Profits Outstand¬
I
9.404,890 90
ing
Real Estate Reserve Fund....
370,000 00
912,921,890 89
1910
MM
1,213,069 68
3356,913 94
Administrator,
Trustee,
Guardian, Agent, ate.
Corporation Mortgages.
Certified Publlo Accountants
(Pennsylvania)
NEW YORK,
165 Broadway
Land Title Bldg
Union Bank Bldg
First National Bank Bldg
PHILADELPHIA,
PITTSBURGH,
CHICAGO,
JAMES PARK A CO
CERTIFIED PUBLIC ACCOUNTANTS
Now York, Chicago, Cincinnati, and
Minofe &ureQ> Company
Homo
Office, 206 La Salle Street
CHICAGO
WRITES ALL CLASSES SURETY BONDS
Court—Fidelity—Contract—Miscellaneous
London, England.
AUDITORS
FOR
FINANCIAL
INSTTTr
TIONS. INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements.
Periodical A adits and Accounting
The motto of the Illinois Surety Company is “Prompt Service?*
both in the
handling of Ue business and the adjustment of (Is lot
XVI
THE CHRONICLE
[VOL.
'grusl ©ompautes.
gvnst ffiompantes.
UDitei states Host conpy ot leg
Chartered IMS
Ton,
45 and 47 WALL STREET
CAPITAL,
$2,000,000.00
$13,856,570.83
-
tURPLUS AND UNDIVIDED PROFITS
-
-
IaXXXXI
-
this (Company acts as Executor, Administrator, Guardian, Trustee, Court
Depositary and In
Other recognized trust capacities.
St allows Interest at current rates on deposits.
St holds, manages and Invests money, securities and other property, real or personal, for estates
>a>porations and Individuals.
Manhattan
Trust
Company
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
WILFRED J. WORCESTER, Asst. Sec.
HENRY E. AHERN, Secretory.
CHARLES A. EDWARDS, 2d Asst.See.
TRUSTEES.
JOHN A. STEWART, Chairman of the noam.
Gustav H. Schwab,
Lewis Cass Led yard,
Frank Lyman.
Lyman J. Gage. .
James Stillmar
Payne Whitney,
John Clafltn.
Edward W. Sheldon.
John J. Phelps.
Chaunoey Keep
W. Bayard Cutting,
William Rockefeller,
Alexander B. Orr.
William H. tfaey Jr.,
William D. Sienna,
George L. Rives,
Arthur O. James,
William M. Kingsley.
William Stewart Tod.
Ogden Mills.
Egerton L. Wlnthrop
Fidelity Trust Company
Temporary Offices
113 BROADWAY
WALL STREET
CORNER NASSAU
NEWARK, N. J.
M
„
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts
Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates.
Guarantees Titles of
Real Estate throughout New Jersey.
as
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
General Banking and Savings Departments.
Bond Department tor
purchase and sale ef municipal and public utility securities. Safe Deposit
Department.
CENTRAL TRUST COMPANY
of NEW YORK
54
Wall Street
CAPITAL,
$2,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
ecutor, Administrator, Guard¬
ian
and
B’way A 73rd St.
Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under
Mortgages.
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner 3Sth Street,1
With
135th St. ft 8th Are.
Capital $1,000,000
Industrial Trust Company
Providence, R. I.
CAPITAL
$3,000,1
SURPLUS
S.OOOl
OFFICERS.
Cyrus P. Brown, President
Arthur L. Kelley, Vice-President
H. Martin Brown, Vice-President
Otis Everett. Vice-President
Joshua M. Addem&n, Vice-President
Ward E. Smith, Treasurer
Chas. H. Manchester. Secretary
H. Howard Pepper. Asst.Trees.
Frederick B. Wlloox .Auditor
BOARD OF DIRECTORS.
Samuel P. Colt
Olney T. Inman
Modern Safe Deposit Vaults
•
os
,
as
CHARTERED 1864
Acte
aU
Sf Cedar St.
(of which $ 17,000,000 has been earned)
to act
in
Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
Capital and Surplus, $18,000,000
Authorized
SURPLUS,
$4,000,000.00
Surplus (earned) $.7,737,000
ALLOWS INTEREST ON DEPOSITS.
Btfcttoc, Guardian, Trustee, Administrator and In all Fiduciary Capacities
m behalf of Individuals, Institutions
or Corporations.
William R. Dupee ■
Richard A. Robertson
Joshua M. Addeman
James M. Scott
William H. Perry
Arthur L. Kelley
H. Martin Brown
George F. Baker
George M. Thornton
Cyrus P. Brown
Chas. C. Harrington
Louis H. Comstock
Herbert N. Fenner
J. Milton Payne
Ebon N. Littlefield
Otis Everett
C. Prescott Ki
Jesse H. Met
John J. Watson Jr.
Charles H. Allen
John B. Branch
William P. Chapin
Angus McLeod
Ezra Dixon
Howard O. Sturgis
Edward D. Pearce
Englehart C. Ostby
gitxatxjcial.
lllmoisTnist&Saviii£>sB«
ink
CHICAGO
Capital and Surplus
$13,600,000
Adrian H. Muller & Son*
AUCTIONEERS.
Regular Weekly Sales
OF
Pay* Interest
on Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and
Foreign Exchange.
Transacts
a
General Trust Business.
CORRESPONDENCE
INVITED.
STOCKS and BONDS
EVERY WEDNESDAY
Office. No. 55 WILLIAM STREET.
Corner Pine Street.
THE CHRONICLE
OCT* 2S 1910,
XVII
£mst ©jorrajratties.
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMPANY
BOSTON, BASS.
BOSTOH, MASS.
CAPITAL. $1«000.000
SURPLUS. $2,000,000
Safe Deposit Vaults
Authorised to act aa Executor, and to reoelve
In trust or on deposit
Equity Executors.
Administrators. Assignees. Guardians Trustees.
Corporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Heglstrar of Stocks and Bonds.
Interest allowed on Deposits Subject to Check.
and hold money or property
from Courts of Law or
OFFICERS
DAVID R. WHITNEY. President
CHARLES F. CHOATE. Vtoe-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER, Vice-President
JAMES R. HOOPER, Actuary
HENRY N. MARR. Secretary
FRED. W. ALLEN, Asst. Sec. A Treas.
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Officer
CHAS. E. NOTT, Mgr. Safe Dep. Vita.
_
.
BOARD OF DIRECTORS
William Endlcott, Chairman
James G. Freeman
Walter C. Bay lies
Morris Gray
Alfred Bowdltch
James R. Hooper
9. Parker Bremer
Ernest Lovering
Timothy E. Byrnes
Capital and Surplus
$12,500,000
DIRECTORS.
T. JEFFERSON COOLIDGE JR.. Chairman Executive Committee.
GORDON ABBOTT, Chairman of Board.
FRANCIS R. HART. Vice-Chairman.
Charles F. Adams 2nd
Philip Y. DeNormandle
Henry C. Jackson
Philip L. Salto nstal
F. Lothrop Ames
Philip Dexter
George E. Keith
Herbert M. Sean
Oliver Ames
Gardiner
M.
Lane
George A. Draper
Quincy A. Shaw
C. W. Amory
Frederic C. Dumalne
Col. Thos. L. Livermore Howard Stockton
William Amory
William Endloott Jr.
Arthur Lyman
Philip Stockton
Charles F. Ayer
Wllmot R. Evans
Charles S. Mellen
Charles A. Stone
John S. Bartlett
Frederick P. Fish
Laurence Minot
Galen L. Stone
Samuel Carr
Maxwell Norman
Reginald Foster
Nathaniel Thayer
B. P. Cheney
Hon.
Richard
George P. Gardner
Lucius Tuttle
Olney
Edwin Farnham Greene
Robert T. Paine 2nd
Hon.T.JeffersonCoolldge
H. O. Underwood
T. Jefferson Coolldge Jr.
Robert F. Herrick
Eliot Wadsworth
Henry Parkman
Charles E. Cottlng
Andrew W. Preston
Henry S. Howe"
Stephen M. Weld
Alvah Crocker
Walter Hunnewell
Richard S. Russell
Sidney W. Winslow
Charles W. Whittier
PRESIDENT. PHILIP STOCKTON.
Vice-Presidents. WALLACE B. DONHAM
Treasurer, FREDERIC G. POUSLAND
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Manager Credit Dept.. ELMER E. FOYE.
Secretory. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
Authorized Reserve
Agent for Trust Companies in Maine, Massachusetts and Rhode Islandi
Henry H. Proctor
Charles F. Choate
Alexander Cochrane
Philip Dexter
William Endlcott Jr.
Francis W. Fabyan
William Farnsworth
Frederick P. Fish
James M. Prendergast
Herbert M. Sean
Lawrence M. Stockton
Nathaniel Thayer
Valley Trust Co.
Girard Trust Company. Mississippi
Fourth ft Pine Sts., St. Louis.
Capital and Surplus, $10,000,000
Eugene V. R. Thayer
David R. Whitney
George Wigglesworth
CHARTERED 1S3S.
Acts
as
Executor. Administrator. Trustee.
Assignee and Receiver.
Financial Agent for individuals or
The Trust Company
of North America
80M09-80T Chestnut St.. Philadelphia
$1,000.00c
CAPITAL
HENRY G. BRENGLE, President.
JOS. 8. CLARK. Vice-President.
OH AS. P. LINE AWE AVER. Sec. A Treas.
ADAM A. STULL. Chairman of Board.
DIRECTORS.
Henry G. Bcengle.
James Crosby Brown.
John Cadwalader.
E. W. Clark Jr..
Eekley B. Cose Jr.,
Edwin 8. DixonJ
Eugene L. Ellison.
Joseph c. Fraley.
Harry C. Francis.
Henry L. Gaw Jr.,
J. Levering Jones.
Malcolm Lloyd,
John Mcllhenny,
Richard Wain Metre,
Clement B. Newbotd.
John W. Pepper.
William F. Read.
Adam A. Stull.
Edward D. Toland,
Joseph R. Walnwrlght,
Interest Allowed
$2,000,000
on
tzAn nnn
A GENERAL FINANCIAL AND FIDUCIARY
Individual and
B. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON. 2d Vice-President.
O. J. RHOADS, 3d Vice-Pres, and Treasurer.
E. S. PAGE, Secretary.
MANAGERS:
Edward J. Berwlnd.
Effingham B. Morris,
Randal Morgan,
Edw. T. Stotesbury.
Charles E. Ingeraou.
John S. Jenks Jr.,
John A. Brown Jr.,
John B. Garrett,
William H. Gaw,
Francis I. Go wen.
Geo. H. McFadden,
Henry B. Coxa,
Edgar C. Felton,
Henry Tatnall,
Wuuam T. Elliott,
W. Hlnckle Smith,
B. Dawson Coleman.
Isaac H. Clothier,
Thos. DeWltt Cuyler,
C. Hartman Kuhn,
James Speyer.
Broad and Chestnut Streets,
PHILADELPHIA
DIRECTORS.
John I. Beggs. President Milwaukee Light Heat a
Traction Co.
Wilbur F. Boyle. Boyle di Priest.
Jaimes E. Brock. Secretary.
Murray Carleton. President Carieton Dry Goods Oa,
Charles Clark.
Horatio N. Davis. President Smith ADavla Mfg.Os.
John D Davis, Vice-President.
David R. Francis, Francis, Bro. A Co.
S. E. Hoffman. Vice-President.
Breckinridge Jones, President.
Wo. G. Lackey, Vice-President and Bond Offloev
W. J. McBride. V.-Pres. Haskell A Barker Car Oa
Nelson W. McLeod, Vice-President GraysonMcLeod Lumber Co.
Nor veil. President
Hardware Oo.
Saunders
NorveU-ShapMgi
fm. D. Orthwein,
SoberLJ.
O’Reilly. M.
D. Wm.
President
Grain Oo.
D. Orthweta
HenryW. Peters. President Peters Shoe Oo.
H.C. Pierce. Chairman Board Waters-PlerceOllOe.
August Schlafly. August Sohlafly A Sons.
R. H. Stockton, President Majestic Mfg. Co.
Julius S. Walsh. Chairman of the Board.
RoUa Wells.
©attorn.
L. F. DOMMERICH & CO.
PROVIDENCE, R. I.
$2,000,000
l«*j|
PROFirs]wO»0«l,WU
BUSINESS TRANSACTED.
Corporation Accounts.
Acts as Trustee of Corporation Mortgages.
Depositary undo* Plans of Reorganization.
Registrar and Transfer Agent.
Assumes entire charge of Real Estate.
Sides to Rent in Burglar-Proof Vaults.
Rhode Island Hospital
Trust Company
SURPLUS
and
Corporations.
William D. Wtnsor.
Howard 8. Graham.
Samuel F. Houston.
CAPITAL
CAPITAL, SURPLUS
DIRECTORS.
NEW YORK
Royal C. Taft,
Howard O. Sturges.
Robert H I. Goddard, Stephen
O. Metcalf,
step]
Robert I. Gammell.
William B. Weeden,
Edward D. Pearce.
Robert Knight.
John W. Danielson.
Herbert J. Wells.
Lyman B. Goff,
Walter R. Callender.
Edward Holbrook,
James E. Sullivan,
General Offices, 67 Creene Street
Benjamin M. Jackson
John R. Freeman,
Charles S. Mellon,
Robert W. Taft.
Webster Knight,
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
Rowland G. Hazard,
Nelson W. Aldrich,
Stephen O. Edwards,
Frank W. Matteson,
Samuel R. Dorranoe,
R. H. Ives Goddard Jr.
HERBERT J. WELLS. President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vioe-Prestdent.
WILLIAM A. GAMWELL, Secretary.
PRESTON H. GARDNER. Trust Offioei
CYRUS E. LAPHAM. Asst. Seo’y.
JOHN E. WILLIAMS. Asst. Seo’y.
HENRY L. SLADER, Asst. Seo*f.
G. A. HARRINGTON. Asst.Tr.Offle
DISCOUNT AN0 GUARANTEE SALE.
CARRY NO
GOODS FOR OWN ACCOUNT
WILLIAM RAY A CO.
Suceetsen to
GEO COPELAND A CO..
COTTON BROKERS.
IS Cotton Exchange.
New York.
CENTRAL
Orders for future delivery contracts executed on
TRUST COMPANY the New York and Liverpool Cotton Exchanges.
R. H. KOUNTREE & CO.,
OF ILLINOIS
Commission Merchants.
CHICAOO
Capital and Surplus
-
$2,500,000
COTTON, GRAIN, PROVISIONS and COFFEE
COTTON EXCHANGE BUILDING.
NEW YORK.
CHARLES G. DAWES. President.
A. UHRLAUB. Vice-President.
EDWIN F. MACK, Vice-President.
WILLIAM T. ABBOTT. Vice-President.
WILLIAMR. DAWES, Cashier.
WILLIAM
ALBERT
W.^T^S^'ASt^Sshler.
OMANQ*
SecretaS?***
MCCOLM
MoDOwfeLL, Asst. Secretary.
WILLIAM G. EDENS, Amt. Secretary.
JOHN L.
LEHNHARlS.
Amt. Trust Office
BANKING, SAYINGS AND TRUST
DEPARTMENTS.
GWATHMEY & CO.
COTTON MERCHANTS
22
Exchange Place,
-
-
NEW YORK
ROBERT MOORE A CO.
56 Beaver Street. New York.
ORDERS FOR FUTURE DELIVERY EXROUTED IN NEW YORK AND LIVERPOOL
EXCHANGES.
OOTTON PURCHASED FOR SPINNERS’ USB.
Geo. H. MPFadden &
COTTON MERCHANTS
PHILADELPHIA,
Bro.,
NEW YORK.
Liverpool Correspondents:
FREDERIC ZBREGA A OO.
Bremen Correspondents:
MCFADDEN BROTHERS A OO.
Havre Correspondents:
90CIETE D’IMPORTATION BT DE COMMIS*N
Siegfr. Gruner & Co.
COTTON MERCHANTS
17 8oufh William
Street,
NEW YORK.
Mason Smith & Co.,
OTTON OOMHI88IOH KBB0HAR9
NEW ORLEANS, LA.
iHEinPHIS, VENN.
DALLAS, TBL
Buyers of Spot Cotton. Orders for Contracts Bze*
outed In New Orleans. New York,
Liverpool and Havre Marfceto.
XVIII
THE CHRONICLE
ffiutlOrtX.
[VOI,.
f*ltKroctaI.
LXXXXI.
gtattttciKl.
WOODWARD
& STILLMAN
E. H.ROLLINS & SONS
COTTON MERCHANTS
Fversz 6 Company
16 to 22 WILLIAM STREET,
BANKERS]
NEW YORK
Negotiate and Issue Loans (or Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable (or
AMERICAN COTTON OF ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
Established 1876
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Investment.
Established In 1850.
Henry Hentz & Co.
206LA
SALLE$T,~CHICAGO
Fiscal Agent
COMMISSION MERCHANTS
16 to 22 William Street, New York.
Execute Orders for Future Delivery
COITON
At the New York, Liverpool and New Orleans
Cotton Exchanges. Also orders for
COFFEE
Hubbard Bros. & Co.
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION l RAILROAD BONDS.
COFFEE EXCHANGE BUILDING
SEND FOR CIRCULARS.
At the New York Coffee Exchange
QRAIN AND PROVISIONS
at the Chicago Board of Trade and
ORAIN AND COTTON-SEED OIL
At the New York Produce Exchange
(or Cities and Corporation!
on Application
List
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
HANOVER SQUARE.
PEABODY, HOUGHTELING & CO.
NEW YORK
COTTON MERCHANTS
Liberal Advances Made
on
181 La Salle Street,
Cotton
Consignments.
CHICAGO.
F. H. PRINCE & CO.
[Established 18854
BARKERS
Hopkins, Dwight & Co.
COTTON
and
BOSTON, MASS.
GEO. H. BURR & CO.
COTTON-SEED OIL.
Room 51 Cotton Exchange Building,
NEW YORK.
LEHMAN. STERN A CO.. Limited. New Orleans.
LEHMAN BROS.
Nos. 16-22 William Street, New York. '
Members ej the Stock, Cotton, Cojjee
and Produss Exchange,», Sew York.
Orders executed on the above Exchanges, as well In
New Orleans, Chicago and foreign markets.
Stephen M. Weld & Co.,
COTTON
82-92 Beaver
MERCHANTS,
Street,
-
New York City
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
-
>
Commercial Paper
43
Exchange Place
Chicago
-
Boston
Philadelphia
San
New York
Members of New York and Bo
Bremen. ALBRECHT. WELD & CO.
SMITH &, HAYNE
Frank B. Hayne (In Comraendum)
Cotton Brokers,
COTTON EXCHANGE BUILDING.
NEW
OBLEANS, LA.
St. Louis
Francisco
cTrvu&tc&efcAwetfac:
Sullivan Brothers & Co.
Municipal and Corporation Bonds
427
(Other cotton cards
on
preceding oage.)
BONOS FOR INVESTMENT
The Audit Company
of New York
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHI LA. NATIONAL BANK BLDG.,
PHILADELPHIA
“
[Established 18684
W. T. HATCH & SONS
BANKERS AND BROKERS
71
Devitt, Tremble & Go.
-fNew
York Stock
\
Philadelphia
CHICAGO
gittattcial.
City Investing Building
165 Broadway, New York
Members
MUNICIPAL & COR¬
PORATION BONDS
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS. NEW YORK
AND LIVERPOOL MARKETS.
CHESTNUT STREET
PHILADELPHIA, PA.
Chas. S. Kidder & Co.
STREET,
BONDS
—
FIRST NATIONAL BANK BLDG.,
CHICAGO
182 LA SALLE
Stock Exchanges
Kansas City
BOSTON, PHILADELPHIA, PROVIDENCE
Liverpool, WELD & CO.
on
Broadway.
-
New Yark
MEMBERS OF
NEW YORK STOCK EXCHANGB.
HOLLISTER, FISH & CO.
BANKERS
Members New York Stock Exchange
Investment Securities
Naaaau A Pina Straata, N. Y.
.
Telephone 6780 Cortland.
New York Life
DominicK A DominicK
Building, Chicago
Audits and examinations.
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems of accounts.
H. T. HOLTZ & CO.
MUNICIPAL AND
CORPORATION BONDS
FIRST NATIONAL BANK
RICHMOND. VIRGINIA
Capital and Earned Surplus,
-
$2,000,000
JOHN B. PURCELL, President
JOHN M. MILLER JR.. V.-Prest. & Cashier
FREDERICK E. N0LTING. 2d Vloe-Prest
Correspondence Invited
116 BROADWAY
Member. New York Stock Bxcbanre.
Correspondence Invited
171 LA SALLE STREET, OHIOAGO
United Bank Note Corporation Stocks
DICK BROTHERS 6, CO.
BANKERS AND BROKERS.
New York.
80 Broad St..
Members of N. Y. and Pbiia. Stock Exchanges.
New York. New Orleans and
Liverpool Cottas
Exchanges, New York Coffee Exchange
and
Chicago Board of Trade.
@FedFRASER