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GENERAL LIBHAKY,
UN1V. OF
MICH,
OCT 811910
*
TWO SECTIONS—SECTION OWE.
Bank &
Entered at N. Y. Post Office as second class mail matter.
Copyrighted in 1910, by William B. Dana company, New York.
NEW YORK, OCTOBER 29 1910.
VOL. 91.
ginatucial.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
Foreign Exchange, Cable Transfers,
Utters of Credit, Payable through¬
NEW YORK
BANKERS
Government,
Railroad
THE
The Company Is a legal depositary lor
moneys paid Into Court, and is author¬
ised to act as Executor, Administrator,
Trustee, Guardian. Receiver, and In all
other fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
Transfer Agent and Registrar of Stocks
LIBERTY
and
Municipal Bonds
out the world
NO. 2366.
gtafttuixi.
gitumctal.
■
Electric Railway Section
State and City Section
Railway & Industrial Section
Bankers' Convention Section
Quotation Section
Railway Earnings Section
INVESTMENT SECURITIES
NATIONAL
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. S5 Congress St.
ISS BROADWAY
as
and Bonds.
Receives deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on dally balances.
Manages Real Estate and lends money
bond and mortgage.
Will act as Agent In the transaction of
on
approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
any
New York.
Flsoal Agent for States, Counties and
Cities.
Organised 1856.
Capital.
$5,000,000 00
Surplus and Profits . .... 12.584,078 17
Deposits Sept. 1,1910 .
.
102,028,58917
RICHARD DELAFIELD,
President.
GILBERT G. THORNE.
JOHN C. MoKEON.
Vice-President.
Vice-President.
JOHN O. VAN CLEAF.
16-22 WILLIAM STREET
475 FIFTH AVENUE
NEW YORK
LONDON
The National Park Bank
of New York
Vice-President.
PARIS
MAURICE H. EWER.
Cashier.
WILLIAM O. JONES.
WILLIAM A. MAIN.
Aset. Ctuhier.
Asst. Cashier.
FRBD’K O. FOXCROFT, Aeet. Cashier.
N. W. HARRIS A CO
BANKERS
Pin* Str**L Corner
William
NEW YORK
85 Federal St., Boston
Receive deposits subject to check
and allow Interest on halaneea.
Act as fiscal agents for muufcft*
polities
letters
and
of
Issue
corporations.
credit
and
deal
In
BONDS FOR INVESTMENT
LIST ON APPLICATION
Members of Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
THE
Edward B. Smith & Co.
MECHANICS AND METALS
BANKERS
NATIONAL BANK
INVESTMENT SECURITIES
BANKERS
Com* 9th and Main Streets
RICHMOND, VA.
Baltimore Correspondents:
MIDDENDORF. WILLIAMS A CO.
Members New York and Phila. Stock Exchange
88 Wall Street
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner Sth Ave. and 89rd St., New York.
Capital, $1,000,000
N. B. Cor. Broad ft Chestnut Sts..
Capital,
Surplus,
-
-
-
-
$6,000,000
6,000.000
Surplus, S 1.000,000
RUEL W. POOR. President
JAMES MeCUTCHEON. Vloe-Pres.
WILLIAM L. DOUGLASS. Cashier
ARTHUR W. SNOW. Asst. Cashier
Chase National Bank
Clearing House Building
Cap. A Surp.. *11.706.779
ORIGINAL CHARTER 1829
THE
Francis Ralston Welsh,
Dep.. 896.750.278
BONDS
A. B. HEPBURN. President
A. H. Wlggin. V.-Pies. C. C. Slade. Asst. Cash.
8. H. Miller, V-Pres.
B. A. Lee, Asst. Cashier.
H. M. Cookey. Cashier. W. E. Purdy, Asst. Cash.
A. C. Andrews, Asst. Cashier.
OF THE
OF THE CITY OF NEW YORK
106-111 SOUTH FOURTH STREET
PHILADELPHIA
Capital
.... $1,000000
Surplus and Profits (gamed)
2,490,000
OFFICERS
NATIONAL BANK
CITY OF NEW YORK
-Corner Nassau and
STREETS—IS
pine
ESPECIALLY
ARRANGED FOR HAND LINO
MERCANTILE ACCOUNTS
GALLATIN
NATIONAL BANK
OF RAILROAD. GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
THE EQUIPMENT OF THE
FOURTH
Philadelphia
27 Pina Street. New York
First National Bank
of
Philadelphia
SIS CHESTNUT STREET
ACCOUNTS
INVITED
SAMUEL wooLVBRTOff. President
ADRIAN XSBLUV JR.. Vice-President
GEORGE B- LEWIS. Cashier
HO WELL T. HANSON, Asst. Cashier
DIR1CT0B8
Adrian Xselin Jr,
Prederle W. Stevens
Alexander H. Stevens
W. Bmlen Roosevelt
Chas. A. Peabody
Sr.muol Wootvsrtaa
Ohaxtoe B. Tweed
Thomas Denny
THE CHRONICLE
II
[VOL.
LXXXXi.
jankers anil Bratucrs of foreign gxekangt.
J. P. MORGAN & CO
DOMESTIC AND FOREIQN BANKERS
Wall Street
Maitland, Coppell & Co., Kidder, Peabody & Co.,
62 WILLIAM STREET
Corner of Broad
NEW YORK
DREXEL & COn
PHILADELPHIA
Corner of 5th and Chestnut Streets
Bills of
Exchange, Telegraphic
Letters of Credit
on
Cable Transfers
Otroular Letters for Travelers available In all parts
of the world
NEW
YORK.
of
London
Co.,
BOSTON.
f
. •
Correspondents of
BARING
BROTHERS
Buy and sell Bills of Exchange
on
LONDON
J. & W.
BANKERS
NEW
Available In all parts of the world.
sale
of
BROWN, SHIPLEY & CO.. LONDON
SeUgman Brothers, London
Seligman Freres A CieParis
Alsberg, Goldberg A Co., Amsterdam
The Anglo and London-Paris
Bank of San Francisco, Col*
Issue Commercial and
available In
an parts of the world.
YORK
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE AND CALIFORNIA
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE. Cuba, and the
other West Indies. Mexico and California.
for the purchase and
Bonds and Stocks.
Seligman & Co.,
DRAW BILLS OF EXCHANGE AND MAKE
for Travelers
orders
LTD
Letters of Credit for Travelers.
Available in all Parts of the World
London. Paris and Vienna.
all
00.
Issue
ISSUE LETTERS OF CREDIT
Execute
ft
Buy and Sell Investment Securities
Agents and Correspondents of the
Messrs. ROTHSCHILD.
r#»rl If Travelers’ Credits,
V>ldJ.lL
I
LETTERS OF CREDIT
BANKERS.
and make cable transfers
points.
Limited.
No. 23 NASSAU STREET.
Members New York Stock Exchange.
^CCLHTtlCS
rtT
Bank.
August Belmont & Co.,
_
***
FOREION EXCHANGE.
Smiths
TRAVELERS’ LETTER8 OF CREDIT
Available throughout the United States
59 Wall Street
ALEX. BROWN & SONS. BALTIMORE.
Connected by Private Wire.
Mems N. Y.t Phlla.. Boston & Balt. Stock Exch’s.
Buy and sell hm-class Investment Securities on com- I nuPCfmpnt
mission.
Receive accounts All V
of Banks. Bankers, Corpora- O
* *
tlons. Firms and Individuals
on favorable terms.
Collect
drafts drawn abroad on all points In the United
States and Canada; and drafts drawn In the United
States on foreign countries. Including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT
Letters
&
London,
Deposits
Foreign Exchange. Commercial Credits
PHILA.
Union
Messrs. Mallet Freres & Cie., Paris.
Banco Nacional de Mexico
And Its Branches.
Agents for the Bank of Australasia, the British
Guiana Bank, Demerara. etc., etc.
Deposits received subject to Draft
Securities bought and sold on Commission
Brown Brothers &
INVESTMENT SECURITIES.
on
PARIS
21 Boulevard Haussmann
Interest allowed
Transfers,
STREET, NEW YORE
BANKERS
Loans.
No. 22 Old Broad Street
HARJES & CO*,
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
Issue
a ORGAN, GRENFELL* CO, LONDON
MORGAN,
115 DEVONSHIRE STREET BOSTON
NEW YORK
Notion**
Graham, Vaughan & Co.,
44 Pine Street, New York.
IRedmondslo.
BANKERS
TA1LER&CD
BANKERS
INVESTMENT SECURITIES
27 Pine Street, New York
31-33 Pine Street, New York
MEMBERS NEW YORE STOCK EXCHANGE
BANKERS
624 Fifth Ave.. N. Y.
107 Chestnut Street, Philadelphia.
Lawrence Turnure & Co.
INVESTMENT
Letters
Bankers
SECURITIES
Members of the New York Stock Exchange
64-66 Wall
Street, New York
Deposits received subject to draft.
Interest al¬
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.
lowed
London
Winslow, Lanier & Co.,
Bankers:—London Joint-Stock Bank.
Limited.
Paris Bankers:—Heine & Co.
59 CEDAR STREET
Produce
BANKERS
Deposits Received Subject to Draft.
Allowed
on
Deposits.
Bought and
Interest
Capital
Surplus earned
Foreign
Foreign Exchange, Letters of Credit
Bills of Exchange and Cable Transfers.
Deposits
reoelved subject to cheque
Interest allowed on deposits.
Members New York Stock Exchange.
Securities
bought and sold
-
Exchange
-
-
-
-
bought
$1,000,000
500,000
and
sold.
Act as Fiscal Agents.
Graham & Co.
Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of the world.
BANKERS
435 Chestnut 8treet
PHILADELPHIA
Kean, Taylor & Co.
HEIDELBACH, ICKELHEIMER & CO.
BANKERS
87 William Street.
Transact
a
Oeneral Foreign and Domestic
Co mmerclal Credits.
Foreign Exchange,
Gable Transfers.
MTJNBOK ft 00., Paris
Municipal Bonds,
Railroads, Street
Act
as
Financial Agents
Stocks and Bonds.
Issue Commercial and Travelers’ Credits
available in all parts of the world.
Letters of Credit for Travelers
Execute orders for purchase and sale of
Dealers in Investment Securities
BOSTON
and
of
of established value.
Banking Business
NBW YORK
Securities
MEMBERS N. Y. STOCK EXCHANGE.
Foreign Exchange Bought and Sold.
John Munroe & Co.,
Government
Railways and Gas companies
BANKERS.
STREET, NEW YORK
on commission
Dealers In High-Grade Investment Securities.
ACCOUNTS INVITED
90 PUTS
and
Exchange Bank
on
Commission.
Cheques,
BROADWAY. Corner BEAVER ST.
Securities
Sold
of Credit and Travelers*
available the world over.
Lists upon application.
NEW YORK
HEW YORE
Cables “Mimosa."
Schulz & Ruckgaber,
BANKERS.
15 William Street.
Members New
«...
York
Stock
Knauth, Nachod&Kiihne
BANKERS
New York
Exchange.
Correspondents of Messrs.
Fruhllng A Goschen, London.
Issue Foreign and Domestic Letters ef
Credit and Travelers’ Cheques
John Berenberg-Gossler & Co.. Hamburg.
Marcuard, Meyer-Borel ds Cie., Paris.
Bremer* Bank Ftllale der Dresdner Bank,
Bremen.
Issue Commercial & Travelers* Credits.
Buy and Sell Bills of Exchange.
Cable Transfers A Investment Securities
NBW YOBK
LEIPSKt, GERMANY
Members New York Stock Exchange.
INVESTMENT
SECURITIES
Oct. 2ft
THE CHRONICLE
1910.]
Sanhets.
•Bankets.
iSatthets.
Millett,Roe & Hagen
Lee, Higginson&Co.
BANKERS
Wm. A. Read & Co.
BOSTON
New York
Buildings, Prince’s Street.
LONDON. E. C.
S3 Wall Street
New York
BANKERS.
Dealers In
Members New York. Chicago and Boston
Stock Exchanges.
HIGH-GRADE BONDS
Chicago
HIGGINSON & CO.
I Bank
ui
Investment Securities
Members New York Stock
Excdange
Boston, 15 Congress Street
25 NASSAU
STREET,
NEW YORK
Plympton,Gardiner& Co*
BOSTON
BALTIMORE
CHICAGO
N. W. HALSEY &
LONDON
CO..
Bankars
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Interest Allowed
Conservative Investments
Fiscal
on
Deposit Aoooonts
Agents lor Cities and Corporations
LISTS ON REQUEST
27 William St., New York
232 La Salle Street,
54 Old Broad Street,
LONDON, E. C..
CHICAGO
Rhoades&Company
49
Wall Street, NEW YORK
Philadelphia
Chicago
San Francisco
BANKERS
45 WALL STREET, NEW YORK
George P. Butler & Bro.
35 Wall Street
Members N. Y. Stock Exchange
High-Grade Bonds
Trowbridge & Co.
State,
Municipal
and
NEW YORK
Railroad
RAILROAD AND OTHXR
INVESTMENT SECURITIES.
BARKERS
Members New York Stock Exchange
Members New York Stock Exchange: Execute
Commission Orders;
draft.
Available
Throughout the World
HARTFORD—36 Pearl Street
NEW YORK
111
NEW HAVEN
Broadway
134 Orange St
H. B. HOLLINS & CO.
Cor. of Wall and Broad Sts.. New York.
Letters of Credit and
Travelers* Checks
Bonds and Stocks
for Investment
Deposits received subject to
Draw Bills of Exchange and make Cable
Transfers to Europe, Asia, Australia, tho
West Indies, Central and South Amerie
Mexico.
Issue Letters of Credit for Travelers,
able in all parts of the world.
BANKERS
SIMON BORG & CO.,
60 WALL STREET. NEW YORK
BOSTON
BANKERS
Members of New York & Chicago Stock Exchanges
Blake Brothers & Co.
Exchange Plata,
Execute orders for
sale of
Stocks
purchase and
and
Bonds
Buy and Sell Foreign Exchange.
CABLE ADDRESS, ••COLDNESS”
14 State Street,
NEW YORK
BOSTON
Issue
Dealers In
NEW YORK CITY
Commercial and Travelers'
Letters of Credit
Investment
DEALERS IN
Securities
and Commereiat
Paper
INVESTMENT SECURITIES
Members New York A Boston Stock Exchanges
Zimmermann & Forshay
BOISSEVAIN & CO.
80 Naaaaa
Street,
New York
-
HIGH-GRADE
INVESTMENT SECURITIES
Wollenberger & Co.
M embert New York Stock Exchange.
NEW YORK.
Orders executed for stocks and bonds for Invest¬
ment or on
Members New York Stook Exchange.
Specialists In
Foreign Government Bonds
Correspondence Invited.
• and 11 Wall Street, New York.
24 BROAD STREET.
margin.
206 La Salle Street
BIRD S. COLER
-
-
CHICAGO
LEONARD H. HOLE
Fureip Exchange Bought ant Soli
W. N. COLER &, CO.
Letters nf Credit Issued
BANKERS
TRANSACT
A GENERAL BANKING AND
STOCK EXCHANGE BUSINESS.
to.
BANKERS
BANKERS
Adolph Boissevaln * Co.,
Amsterdam. Holland.
Members of Nsw York Stock Exchange
Available In all parts of the world.
and other MUNICIPAL BONDS
COMMERCIAL PAPER
avail¬
Goldman, Sachs & Co.
CHICAGO
SO
and
Cable
Transfers
to
all
Parts
of
the
World.
43 CEDAR ST., NEW YORK
INVESTMENTS
BOND & GOODWIN
BANKERS
Corporation and Collateral Loans
Commercial Paper
CRAMP, MITCHELL & SHOBER
BANKERS
1411 Chestnut St.
s)so
INVESTMENT SECURITIES
Members New York Stock Exchange
and Boston Stock Exchange.
M
Congress St
'BOSTON
Broadway
NEW YORK
134 LaSalle St.
CHICAGO
Philadelphia
Members New York and Phlla. Stock Exchanges
New York Cotton
Exchange
Investment Securities
Shoemaker, Bates & Co,
BANKERS
fNew York Stook Exchange
Members! New York Cotton Exchange
l Chicago Stock Exchange
INVESTMENT SECURITIES
37-43 Wall Street, New York
Waldorf-Astoria and 500 Fifth Ave^ New York
The chronicle
It
iVOL.
gaxetgu.
Lxmi
Canadian.
DEUTSCHE BANK The Union Discount Co. BANK OF MONTREAL
(Established 1817)
BERLIN W
of London, Limited
CAPITAL paid in - - $14,400,000 00
Behrenstrasse 9 to 18
89 CORNHILL.
Telegraphic Address, Udlsoo. London.
CAPITAL
If. 200,000,000.
RESERVE
847,619,000
Capital Subscribed
Paid-Up
825.172.895
Reserve Fund
8,760.000
2.900.000
8 San* £1 STERLING.
Dividends paid during last ten years:
11. 11, 11, 11. 12. 12. 12. 12. 12, 12K per cent
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
follows:
are as
At Call, 3 H Per Cent.
At 8 to 7 Days’ Notice. 3 H Per Cent.
Brandies:
BREMEN.
DRESDEN. FRANKFORT-O-M..
HAMBURG.
MUNICH,
LEIPSIC,
NUREMBURG, AUGSBURG.
WIESBADEN.
BRUSSELS. CONSTANTINOPLE
4
George Yard. Lombard St..
LONDON, E. 0.
Head Office—Montreal
Rt. Hon. Lord Strathcona and Mount Royal.
G. C. M. G.. Q. C. V. O — Honorary Presides
R. B. ANGUS. President.
Sir Edw. Clouston. Bart.—V.-Pres. A Gen. Mgr
NEW YORK OFFICE.
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
CHRISTOPHER R. NUOENT, Manager.
and the
Deutsche Bank (Berlin) London Agency
12,000,000 00
681,661 44
UNDIVIDED PROFITS,
$7,500,000
M. 105,726,164.
deposit
REST,
The London City &
Midland Bank, Limited,
64 WALL STREET
R. Y. HEBDEN,
W. A. BOG.
J. T. MOLINEUX
| Agents.
Buy and Sell Sterling and Continental Exchange
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
6 Threadneedle Street. London. England.
BANCO ALEMAN TRANSATLANTIC!)
With Branches In all the Principal Cities and
Towns of England and Wales.
(Deutsche Ueberseelsche Bank.)
Telegraphic Address: Cinnabar, London.
SUBSCRIBED CAPITAL
(87.143.000)
ESTABLISHED 1836
(85.857.000)
SUBSCRIBED CAPITAL, $96,741,700
PAID-UP CAPITAL, 19,946,187
M. 50.000.000.
PAID-UP CAPITAL
M. 22,500.000.
RESERVE FUND
(81.625.000)
M.
6.827,000.
HEAD OFFICE
RESERVE FUND,
Berliner
advanced upon.
Drafts, cable-transfers and letters
of credit issued,
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’Y
GEORGE Y’D, LOMBARD ST.. LONDON. E.C.
WOOD, GUNDY & CO.
Handels-Gesellschaft,
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
Bills sent for collection, negotiated or
Mk
London Agents—The London Joint Stk.Bk., Ltd.
MUNICIPAL AND CORPORATION
Antofagasta, Concepcion, lqulque, Osorno.
Santiago. Temuoo. Valdivia, Valparaiso.
PERU: Arequlpa, Callao. Lima, Trujillo.
Me
147 branches In the Provinces of Quebec, Ontario.
Manitoba. Saskatchewan
Alberta and British
Columbia. Good facilities for effecting prompt toIlections in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
Canadian Bonds
Aires,
OHILI:
L wl
17,961,668
-
HEAD OFFICE MONTREAL
CAPITAL.
86.000.000
Rest and Undivided Profits
4.602,167
NEW YORK OFFICE. 68 and 66 Wall St.
cw«lvL ]*""“•
Sir EDWARD H. HOLDEN. Bart..
Chairman and Managing Director.
BERLIN
Kanonlerstrasse 29 to 30.
Branches:
ARGENTINA: Bahla-Blanca. Buenos
Cordoba. Mendoza, Tucuman.
BOLIVIA: La Paz, Oruro.
-
Merchants’ Bank of Canada
TORONTO
CANADA
BERLIN, W., 64
Behrenstrasse 32-33 and Franzoslsche-Strasse 42
Telegraphic Address—Handelschajt, Berlin.
W. GRAHAM BROWNE & CO.
MONTREAL
ESTABLISHED 1856
CANADA
Canadian Bonds Bought, Sold and
Banking Transactions of Every Description
Direction der
Disconto-Gesellschaft,
Capital, Reserve,-
ESTABLISHED 1851
-
-
-
M. 110,000,000
-
-
-
M. 34,600,000
BERLIN W„ 43-44 Behrenstrasse
BREMEN. FRANKFORT-o-M.. MAINZ,
Ifcneetjjtt.
VAN OSS A CO.
THE
HAGUE, HOLLAED
Place American Investments in
HOCHST-o-M., HOMBURG v. d. H.,
POTSDAM, WIESBADEN.
LONDON. E. C..
Appralstd
Swiss Bankverein
Schweizerischer Bankverein
Bankverein
Europe
Tel. Address, Voco.
Codes: Hartfleld’s Wall St.. W. U. A Lleber.
Suisse
58 CornhiU.
Basle, Zurich, St. Gall, Geneva
CAPITAL, fully paid,
Agencies at Rorschach. Chlasso and Herlsau
$40,476,200
-
M. 170.000.000.
B1SEBVE
$14,307,764
M.
With the unlimited personal liability
of the following partners:
A.
M.
SCHOELLER.
SCHINCKEL.
I
,
Dr. A. SALOMONSOHN.
E. RUSSELL.
F. URBIG.
Brasilianische Bank
fUr Deutschland
CAPITAL
Branches:
a.
LONDON OFFICE. 43 Lothbury, E. C.
60.092.611.
M. 10 000.000 00
Head office: HAMBURG.
RIO DE JANEIRO. SAO PAULO.
Capital paid up, . Frs.75,000,000
Surplus, .... Frs.22,500,000
The National Discount
Company, Limited
85
CORNHILL.
Bank fur Chile und
Deutschland
CAPITAL
M. 10.000.000 00
HAMBURG. WITH BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA). ANTOFAQASTA. CONCEPCION. SANTIAGO. TEMUCO.
Y^LpiyiA. VALPARAISO. VICTORIA: AND
JN BOLIVIA (BANCO
BOLIVIANA>- ^ PAZ
,
ANDO&URO.
*
LONDON AGENTS:
OUlB2XLON
DER
SCHAFT. 56
DE CHILE Y ALE-
DISCONTO-GESELL¬
OORNHILL, B. O
....
LONDON. E. C.
Cable Address—Natdls: London.
SANTOS. PORTO ALEGRE. BAHIA.
Subscribed Capital
Paid-up Capital
Reserve Fund
(85— £1 STERLING.)
821.165.625
4.238.325
24100.000
NOTICE IS
HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
depoelt
are as
follows:
4t Call. 8 HI Per Cent Per Annum.
At 8 to 7
or
14 Days' Notice. 8 H Per Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from time to time and for fixed periods upon
specially agreed terms
Loans granted on approved negotiable securities
PHILIP HAROLD WADI. Manager.
Hong Kong & Shanghai
BANKING CORPORATION
Paid-up Capital (Hong Kong Currency)
115.000.000
Reserve Fund/In Gold...815,000.000)
31,000.000
Un Silver.. 16.000.000/
Reserve Liabilities of Proprietors
15 000.000
GRANT DRAFTS. ISSUE 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 1869
CAPITAL (fully paid)
-
$26,342,000
-
(180.000.000 crowns)
RESERVE FUNDS
-
-
-
(89.000,000 crowns)
HEAD OFFICE VIENNA
Branches in
$7,900,000
(AUSTRIA)
Aufttria-Hungary
Agram, Aussig a-E., Bielitz-Biela,
Brunn, Budapest, Carlsbad, Czernowitz, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsen, Prag, Przemyal,
Prossnitz, St. Pol ten, Tarnow, Teplitz,
Teschen, Villach, Wr. Neustadt.
Branch in
Turkey
Constantinople
OOT. 29
THE CHRONICLE
1910.]
Ssttfejevs.
dmn/llini.
THE CANADIAN BANK
OF COMMERCE
Mackay & Co.,
HEAD OFFICE. TORONTO
PAID-UP CAPITAL
SURPLUS
NEW YORK OFFICE:
16 AND 18 EXCHANGE
Wm. Gray and C. D. Mackintosh.
Nos.
Bay
UO.OOO.OOG
6.000.000
PLACE
Agents
Sterling and Continental Ex-
and Sell
Transfers. Commercial and
Collections made at all points.
Banking and Exchange business of every de¬
scription transacted with Canada.
uange and Cable
ra voter's Credits.
LONDON OFFICE—2 Lombard Street.
Edward Sweet & Co.
BANKERS
Members N. Y. Stock Exchange
Members of the New York
Stock Exchange. Dealers in
Bankers & Brokers
34
E.C
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
PINE STREET
NEW YORK
BANKERS IN GREAT BRITAIN
The Bank of England.
The Bank of Scotland.
Lloyd’s Bank. Limited.
Union of London and Smith’s Bank. Limited.
National
City Bank Building
55 Wall Street
ESTABLISHED 1884
NEW YORK
The Bank of
British North America
Established In 18S6
Incorporated by Royal Charter In 1640
ESTABROOK & CO.
11.000.000 Sterling
£580,000 Sterling
Paid-up Capital
Reserve Fund
WE FINANCE
BANKERS
Eleetrio
Light, Power and Street
Railway Enterprises with records
of established
earnings
Members New York and Boston
Stock Exchanges
Head Office:
5 Gracechurch Street, London. E.O.
New York Office: 52 Wall Street.
H. M. J. McMICHAELAAgents.
W. T. OLIVER.
J
INVESTMENT SECURITIES
Boy and sell Sterling and Continental Exchange
WE OFFER
Grant Commercial and
and Cable Transfers.
Travelers* Credits, available In any part of the
world.
Issue Drafts on and make Collections
la all parts of the United States and Canada.
15 State Street*
24 Broad Street*
BOSTON
NEW YORK
-
BALTIMORE
HARTFORD
Bankers
Proven
CHICAGO
Public
Dealers
Utility Securities
ELECTRIC BOND & SHARE CO.
'
4
OHAS. MEREDITH.
J. J. REED.
President.
Vice-President.
G. W. FARRELL, Secretary-Treasure!.
A. H. B. MACKENZIE. Manager.
Investment
Correspondence Solicited
C. Meredith & Co., Limited
Bold Brokers and Finaocial Agents
and
R. L. DAY & CO.
35
37 Wall St.
" v"
\
Jh
■(
a
(Paid-Up Capital and Surplus* $4,900*000)
71 BROADWAY
NEW YORK
Congress St.
BOSTON
NEW YORK
,
DIRECTORS:
C. R. HOSMER
NI6H - GRADE INVESTMENT BONBS
ALFRED BAUMGARTEN
Gapt. D. C. NEWTON (Montreal)
H. ROBERTSON
C. B
Munlolpal and Railroad
GORDON
MONTREAL
WILLIAM P.BONBRIGHT& COMPANY
BANKERS
Members New York and
Boston Stock Exchanges
Members of the New
Colorado
Springs
COLORADO
Canadian
Investment Securities
York Stock Exchange
24 Broad Street
NEW YORK
London
ENOLAND
Electric Rawer Securities
Tucker, Anthony A Co.
BANKERS & BROKERS
CORRESPONDENCE SOLICITED
DOMINION SECURITIES
CORPORATION, LIMITED
Toronto
SB STATE ST.,
24 BBOAD ST.»
BOSTON
NEW YOB*
NATIONAL LIGHT.
NORWICH.
NEW BEDFORD
Members Boston and New York Stock
HEAT A POWER COMPANY
Exchanges.
GUARANTEED
London, Eng.
Montreal
BONDS
A. H. Bickmore & Co.t
HUNT & CUSHMAN
THE
35 Congress
LIMITED
Agents
St, BOSTON
BttTRON, GRISCOM
BOND DEPARTMENT
l JENKS
Alfred Mestre & Co
BANKERS
BANKERS
Corporation Bonds
CANADA
MONTREAL
Land Title Building.
40 Wall Street.
PHILADELPHIA.
NEW YORK.
Mem here of the New York
Stock
Exchange.
Dealers
in Municipal* Railroad and
Equipment Bonds.
Interest allowed on deposits
Subject to Draft.
INVESTMENT SECURITIES
HANSON BROS.
H. AMY & CO.
Dealers In
Canadian Investment Securities
Send for our circular
giving detail$
BANKERS
44 and 46 Wall Street* New York
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
„
James St. Street
Now Ywfc
30 Pina Street*
INVESTMENT TRUST CO.
Canadian
BANKERS
Investment Securities
Trustees-Transfer
...
AI1
MONTREAL
37 Wall St.
NEW YORK
«
■
‘Jf
V
Jt
.Jt
130 8. 18th St. '
PHILADELPHIA
VI
THE CHRONICLE
lVOJ>.
IiXXXXl.
gattfe*** and Mvafatns outside getw
PITTSBURGH
LOUISVILLE.
We Buy and Sell
PORTLAND, ORE.
INVESTMENT BONDS
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE. KY.
J. S. & W. S. KUHN
BANKERS AND BROKERS
Pittsburgh, Pa.
• S. Kuhn.
L. L. M’Clelland.
President.
See. & Trees.
PAID-UP CAPITAL. $500,000
John W. & D. S. Green
'
STOCKS AND BONDS
INVESTMENT SECURITIES
SAN FRANCISCO.
LOUISVILLE, KY
J. C. WILSON
HENRY
S. FRAZER
Local Stocks and Bonds
PITTSBURGH, PA.
Taylor & Company
PITTSBURGH
INVESTMENT SECURITIES
NEW YORK
and
258 Fourth Ave.
NASHVILLE.
AUGUSTA.
“H.
l
BROKER
Southern
LOS ANGELES.
James H« Adams & Co.
Securities
JNICIPAL
J. W. SPARKS A CO.
California
Offerings of Southern Bonds
Philadelphia.
f PHILADELPIA STOCK EXCHANGE
NEW YORK STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
REED A HUNTOON
Specialists in
SOUTHERN
MUNICIPAL BONDS
Municipal and Corporation Bonds
TO YIELD
HILLYER TRUST CO.
1
-
BARROLL & CO.
CALVIN BULLOCK
DENVER
CITY
BBOKEBS
Merchants' Exch. Bldg.
San Francisco.
H. W, Heilman
Bldg.'
Los Angeles.
$300,000
DENVER, COL
BIRMINGHAM, ALA.
PASADENA
BONDS
Legal Bonds
BANKERS AND BROKERS
Capita! and Surplus, - ATLANTA, GA.
NORFOLK, VA.
4*S% TO 6%
LOS ANGELES
ATLANTA,GEORGIA
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANGE
LOS ANGELES.
TRAMWAY
BONDS
BUFFALO.
BIRMINGHAM. ALABAMA.
-rnrinrwwtrvAj
MONTGOMERY.
STOCKS AND BONDS
JOHN T. STEELE
B. W.
Strassburger
BUFFALO. N. Y.
SOUTHERN INVESTMENT SECURITIES
MONTGOMERY, ALA.
Government, Municipal
and Corporation Bonds
BALTIMORE
Buffelo and Western New York Securities
OFFICES:
ALABAMA
SPECIALISTS IN
COLSTON, BOYCE & CO
MEMPHIS.
SAN FRANCISCO
CALIFORNIA
MOTTU & CO.
BIRMINGHAM, \
MONTGOMERY./
Specialty
ATLANTA.
THE RIIINSON- HUMPHREY CO.
Otto Marx a Co.
a
IS ANGELES
YIELDING 4M% TO 5X%
Established 1892.
Issues
Established 1887
& CO.
PHILADELPHIA
CORPORATION
WILLIAM E. BUSH
AUGUSTA, GA.
INACTIVE SECURITIES
4S1 Chestnut St.. Philadelphia. Pa.
BONDS
PUBLIC
Correspondence Invited
and Stocks
MEMBERS!
AND
BONDS
WANTED
Chestnnt and Third Sts..
STOCKS AHD BONDS
Exchange
AUGUSTA. GA
Investments receive our special attention. In9ermatlon cheerfully furnished regarding present
holdings or proposed Investments.
MEYER & GOLDMAN
SAN FRANCISCO
JOHNJW. DICKEY
STOCK AND BOND BBOKEBS
n South Third Street,
PHILADELPHIA
NORFOLK, VA.
Information
iat. Bank Bldg..
Member The Stock and Bond
Wm. G. Hopper & Co.
AND
PACIFIC COAST SECURITIES
TENN.
We Invite Requests for
W. G. HOPPER,
S. HOPPER,.
Members of Philadelphia Stock
Exchange.
BANKEBS
1
Bankers and Broken
PHILADELPHIA.
Building,
t AN FRANOISOO
LOS ANGELES
Branch. Coronado Hotel. Coronado Beach.
Correspondents,
,
STOCKS AND BONDS
INVESTMENT SECURITIES
Morris
Chicago Board of Trade.
Stock and Bond Exchange. S. F.
Private Wire to Chicago and New York.
THOS. PLATER & CO.
Singer Bldg.
E. B. JONES
{New York Stock Exchange.
NASHVILLE.
SECURITIES.
Union Bank Building,
H. P.
BONDS
j
New York and Pittsburgh Stock
Exchanges
and Chicago Board of Trade
INVESTMENT
Municipal and Corporation
-
CHILDS & CHILDS
Members
PHILADELPHIA
NEW YORK.
INVESTMENT BONDS
STREET RAILWAY SECURITIES
A Specialty
Correspondents: WALKER BROS., 71 B'way. N. Y.
Incorporated
of
MORRIS BROTHERS
f
PORTLAND
ALBANY, N.Y.
Members Baltimore Stock Exchange
JNO. L. NORTON
Local Stocks and Bonds.
86 Madison
MEMPHIS,
TENN.
-
Established 1854
PAYS0N & CO.
Investment Securities
.
-
Chas. H. Payson Geo. S. P
and Unlisted
STOCKS AND BONDS
Avonuo,
-
PORTLAND
INVESTMENT BANKER
Local, Listed
SOUTHERN SECURITIES
-
-
vson
MAINE
Herbert Pay
REAL ESTATE
PROVIDENCE.
PORTLAND, MAINE
H. M.
PETER J. CALLAN
INVESTMENT BONDS
NEW JERSEY.
Richardson & Clark
25
Exchange Street, Providence. B. I
Bonds, Str oks and Local Securities
Private wires to Boston, Philadelphia
and
New
\ork.
EDWIN R. CASE
NEW
Vo
JERSEY
better State
SECURITIES
No better Securities
15 EXCHANGE PLACE
Tels. S66 and 751
JERSEY CITY
OOT. 29
TO
THE CHRONICLE
1910.]
pencil.
S»ttlit#* and QKBfuvs cnxtfi&t
CLEVELAND.
ST. LOUIS.
CHICAGO.
•**<M>**<>*****a*a*aa***»***a*‘>aa****a***a»aa**a»»^^*r‘lwYYwyv\nfln.
T. E. BORTON
FRED. S. BORTON
R. C. ENWRIGHT
QREENEBAUM SONS
BORTON
BANKERS
Chicago.
Clark and Randolph Streets.
High-Grade Investment Securities.
First Mortgages
BORTON
&
INVESTMENT SECURITIES
LISTED AND UNLISTED
A. G. EDWARDS&SONS
and Bonds tor sale.
Letters of Credit for travelers,
all parts of the World.
OF CLEVELAND AND NORTHERN OHIO
One Wall Street
available In
STOCKS AND BONDS
MEMBERS CLEVELAND STOCK EXCHANGE
In St. Louis at 410 Olive Street
BanklngBuslness.
Correspondence Solicited.
Afnd /or our latest lists of Securities.
GUARDIAN BUILDING
Domestic and Foreign
Hayden, Miller & Co.
Sanford F. Harris ft Co.
Shreveport Bridge & Terminal Co.
DIVESTMENT SECURITIES
First 5s, du« 1955
ROOKERY
THE
Investment Bonds
CLEVELAND. OHIO
Citizens* Building,
Yi.ldA5%
INDIANAPOLIS.
CHICAGO
Joseph T. Elliott ft Sons
A. O.
BANKERS & BROKERS
189 MONROE STREET.
New
New
New
New
Members Indianapolis Stock Exchange
INDIANAPOLIS
American Nat. Bank Bldg..
WHITAKER
ILL.
CHICAGO,
here:
Investment Securities
Slaughter & Co.,
York Stock Exchange.
York Cotton Exchange.
York Coffee Exchange.
York Produce Exchange.
Chicago Stock Exchange.
Chicago Board of Trade,
St. Lonts Merchants' Exchange.
_
ft CO
High Grade
NEWTON TODD
I WILL BUY AND SELL
INDIANA TRACTION SECURITIES
Missouri & Illinois
Fletcher Bank Bldg
INDIANAPOLIS
.
Municipal Bonds
Allerton, Greene & King
THE ROOKERY. CHICAOO
RAILROAD, MUNICIPAL AND
CORPORATION BONDS
To net 4J/9% to 5%
Grctrlar
on
J. G. WHITE & CO.
application
300 N. FOURTH ST.
ST. LOUIS
-
William R.
(INCORPORATED.)
COMMERCIAL PAPER
8. W. Cor. Monroe & La Salle Sts., Chicago.
KANSAS CITY, MO.
W.
McCRUft
H.
K>mm City Ry. A
Compton Co
Mehtt.-LMl.de Bldg.
ST. LOUIS
SOB Lalslb It
OHXOAOO
DEALT XH
CIRCULARS AND UST ON APPUCATIM
Investigations and Reports on Electric
Railway Gas, Electric Light and Power
Properties. Irrigation Systems, ftc., for
Financial Institutions and Investors.
Electric
Railways, Electric Light and Power
Plants, Gas Plants, Financed,
Designed and Built.
London Cerrespondents:
J. G. WHITE Jt CO., Limited,
9 Cloak Lana. Cannon St.. E. C.
SIXTY
WALL SI¬
Methods,
Operation
Pnblic Utilities and Industrial*
WEIL, ROTH ft CO.
~~
C. G. YOUNG
Plans,
CINCINNATI.
win City Rapid Transit
Transit 5s. 1928
Linnesota Transfer Ry. 5s.
5s, 1915
LPaul Gas Light Co. 5s.
5s, 1944
San Francisco, Cal.
Engineering and Construction
Light Issues.
Western Municipals.
Local Securities.
SAINT PAUL
Ohi«se, lilt.
MUNICIPAL
and other
HIGH-CLASS BONDS
DIVESTMENT 00.
KANSAS CITY. MO
Exchange Place, NEW YORK
43-49
ZM tnAppUtaKm
A. G. Becker & Co.,
Engineers, Contractors
NEW YORK
Reports for Financing
Dealers In
~
'
Jlty of St. Paul 4 Hs
rwin City Telephone
High-Grade Bonds
H. U. WALLACE
for Investment
Co. 1st 5s
Correspondence Invited on
all Northwestern Securities
Mem. Am. Sec. C. B.
CINCINNATI
CHICAGO
Edwin White & Co.
Mflto Settings Bank
Bldg., St. Tend
MINNEAPOLIS.
8tevens, Chapman & Co.
BONDS
FRIEDLANDER
EDGAR
Ex-Supt. Illinois Central RR.;
DEALER IN
Cincinnati Securities
OHIO
CINCINNATI.
Chief Englnecv
Illinois Central RR.: and Gen'l Manager Chicago
Lake Shore ft South Bend Electric Railway.
CHICAGO ILL.
Marauette Bldg.
■dmond C. Van lJlest
Robert
Thomas L. Wilkinson
PROVIDENCE.
■XHNEAPOLIS—ST. PAUL
M. St. P. ft S. Ste. Marie 4s
Mitt Missabe ft Northern 5s
Beats Dakota Central 5s
.ft Ontario Power 6s
ENGINEER
Examinations, Reports. Surveys, Supervision ef
construction and operation of Electric and Steam
Railroads, Power Plants, Transmission linaa.
Central Stations and Irrigation projects, ho.
ALBERT P. MILLER Jr.
INDUSTRIAL TRUST CO. BUILDING
PROVIDENCE, R. I.
Local Securities
McF. Doble
Associated Engineers Co.
Ixaminatiens, Reports Construction, Operatic*
Irrigation Enterprises a Specialty
nfNVBll. COLO.
*17Contnry Building
restabl shed 1S8S.
WELLS & DICKEY ft CO Gas, Electric Lighting & Railway A. L. REGISTER ft CO.
MINNEAPOLIS. MINN.
MUMWIPAL A CORPORATION BONDS
City Rapid Transit System Bonds
polls National Bank Stocks
ROCHESTER, N. Y.
High Class 6% Bonds
Bonds and Stocks
111 N.ctb Broad Sfrwt
BODELL ft
CO.
BANIGAN BUILDING
PROVIDENCE
far
JOHN A.
particulars
BURGESS
Member Rochester Stock Exchange
1S4-1S5 Wilder Bldg.
ROCHESTER. N. Y.
PhU»M»M«.
fpMtttttg gttginstvs.
806 TO S09
H. M. CHANCE
Consulting Mining Engineer and Geologist
50% Stock Bonus
Write
Successors to Pepper ft Register
ENGINEERS & GENERAL CONTRACTORS
Preferred Stocks
of Proven Value.
Bonds and
00AL AND KEOTOLAL PKOPERTH0
Examined, Developed, Managed
587 Drexel Bldg..
PHILADELPHIA. PA
Till
THE CHRONICLE
ft
'
■
■
*
%
y ?¥•?■• %
[Vox..
rrr-i
LXXXXI.
^sntuvs and SKcr&ex*.
ERVIN & COMPANY
A. B. Leach & Co.,
BANKERS
BANKERS
149
NATIONAL BANK
OF CUBA
—
5Kew York Ohwk Exchange,
.
memoers
j p^ceipMa stock Exchange.
Broadway, HEW YORK
BONDS
140 Dearborn Street, CHICAGO
FOf^ INVESTMENT,
Drexel
HEED OFFICE—HAVANA
Building, Philadelphia.
Branches
GALIANO ST.. HAVANA.
228 MONTE ST., HAVANA.
PRODUCE EXCHANGE. HAVANA
CARDENAS,
MATANZAS,
CIENFUEGOS,
SANTIAGO.
84
Long Distance Telephone No. L. D. 107.
28 State Street, BOSTON
Chertnot ft 4th St, PHILADELPHIA
PARKINSON & BURR
BANKERS
C L HUDSON & CO.
EM. 84-86 WALL 81., NEW YORK.
63 8tate Street
NEW YORK
BOSTON
BANKERS,
PRINCIPAL CITIES.
PHILADELPHIA
321 Chestnut St.
Members Phila. and New York Stock Exchanges.
Interest allowed on deposits.
Correspondent.
LSl
STOCK BROKERS
George P. Schmidt
-
Frederlo Gallatin Jr.
Albert R. Gallatin
Exchange*.
NEW YOKE
Tel. 2000 Rector
Members N. Y. Stock Exchange
111
and Philadelphia
'
Edwin P. Campbel
H. G.
MEMBERS N. T. STOCK EXCHANGE
Transact
WALKER BROS.
71
Securities Bought ft Sold on Commission
William Herbert & Co.
and
Phila.
Stock
Exchanges
at*
Members
Exchanges in this country and Europe.
Especial attention given to supplying high-dan
INVESTMENT SECURITIES.
on
Deposits Subject to Checki.
IBfiB
H. L. Finch.
SECURITIES
11 WALL ST.. N. Y.
New
Yerk
Steak
Exchange
Investment Seourltlee
27
WILLIAM
STREET
NEW
YORK.
1910
Simpson, Pearce & Co.
Jas. B.
Colgate A Co.
86 Wall
Street. New York.
Members
N, Y. Stock Xx.
Investment
timbers New York Stock
Firkaip
Bondi.
111 BROADWAY
Telephones
VICKERS 6, PHELPS
4490-1-2-8-4 Rector
YORK
28 Wall Street. New York City.
Members of New York Stock Exchange
.
BONDS
Oeih orders only in stocks accepted
W, H.
Goadby & Co*
Bankers and Brokers
HQ. 74 BROADWAY,
HEW YORK
Acta as Cuban correspondent off
hanks and transacts a general banking bn
Capital, SI,000,000
Si TILTON BANK
.
OREGON
OFFICERS
W. M. Ladd, President.
R. S. Howard Jr., Asst.Cosh
B. Ceekinghaai, V.-Pre6. J. W. Ladd, Asst.
Gash
W. H. Dunckley, Cash.
Walter M.
Asst,
interest paid on Time
Cook,
Deposits and Savings
Accounts of Banks, Firms, Corporations and III
solicited.
We are prepared to furnish dapodiars
every facility consistent with good
MELLOR & PETRY
Stocks, Bonds, Investment Securities
114 SOUTH FIFTH ST.,
PhllaMphli
W. S. Tar bell.
D. H. Schmidt A Co.
Orders for Stocks and Bonds executed upon
Interest Allowed
York Committee
INVESTMENT SECURITIES
HARTFORD. CONN.
NO. 10 WALL STREET.
Y.
John E. Gaxdin \
Alvin W. KnobjNew
James H. Post J
MEMBERS
INVESTMENT
BANKERS AND BROKERS.
Members N.
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vico-President
NEW TOES STOCK EXCHANGE
PHILADELPHIA STOCK EXCHANGE
J. S. FARLEE & CO.
NEW YORK
& CO.
•
Members N. Y. Stock Exchange
MEMBERS NEW YORK STOCK EXCHANGE.
Broken and Beaten In
Building
HTDAVIS
JOHN
BROADWAY, N. Y.
J. S. Farlee.
MEMBERS N. Y. STOCK EXCHANGE
-
General Banking and Stock
Exchange Business.
a
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
11 WALL STREET. NEW YORK
Membera New Yark Stock Exchange
11 PINE STREET,
*
Capital Fully Paid - ■ - 81,000,006
Surplus and Undivided Profits $600,000
24 NASSAU STREET
Campbell & Co.
Hanover Bank
4
Ettsbllshed 1.5,
HENDERSON & COMPANY
RAILROAD BOND8
GUARANTEED 8TOOK8
James G. MaoLean f‘
?
PORTLAND
McCURDY,
BANKERS
• NASSAU STREET. NEW YORK.
Established 1800
MEMBERS OF N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Buy and sell on commission etooks and bonds, and
1
LADD
Broadway
NEW TORK CITY
A. M. KIDDER & CO.
Henry O. Campbell
J. Prentice Kellogg
William A. Larned
Chas. H. Blair Jr.
HAVANA
76 CUBA STREET
SCHMIDT & GALLATIN
Private Wires to Boston. Hartford. New Haven
„
the RspuMk el
Cuba
Member American Bankers' Associating
BANK OF
New York
Broadway,
Specialty.
Depositary for die Funds of
E. W. CLARK & CO.
Thomas L. Manson&Co.
100
a
HARTFORD
in all Markets
and Boston Stock
CAIBARIEN.
SAGUA LA GRANDU
Cable Address—Banoonao
Miscellaneous Securities
Y.
Sole
760 Main 8treet
TELEPHONE SOTO JOHN.
Members N.
MANZANILLO,
GUANTANAMO.
SANTA CLARA.
CAMAGUEY.
PINAR DEL RIO.
SANCTI SPIRITUAL
0 AM AJU ANI,
CRUCES,
OIEGQ DE AVILA,
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
Collections
7 Wall Street
E—hart New York end Chicago Stock Exchanges
PRIVATE WIRES TO
Aiwta - - 32,900,684 60
Ouh fat Vaults .... 8,681,379 19
E. & C. RANDOLPH
Members
Ill
New
York
Broadway.
Stock
New
Exoh&nge.
York.
Open Market Securities Department
HORACE HATCH. Manager.
Dealers In Investment and Other Seourltlee of the
United States and Canada
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
BAN KXR8
III BROADWAY, NEW YORK
DEALERS IN
Bonds and Gunrantnnd Stookn
Orders Executed in all Markets.
WEBB & CO.
INVESTMENT SECURITIES
74 BROADWAY
NEW YORK
nenuevumjent Jtjcjccntttant
P. O. BOX 27. 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, BANKS, RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA¬
TIONS. TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC
ACCOUNTANTS* OFFICES,
Sample Copy 16 cents. Per Annum $1 68
A
* ■.,*
Oot. 29 1910.]
*
w.i-i
4
..
A
•*
1
THE CHRONICLE
ix
(Gnvxtut 3&BU& Qnqnixit*.
ftswtKtal.
WANTED
Cumberland Telephone &
Telegraph Co. Stock
She
BOUGHT AND SOLD
<£iti2cns (jPeutral
gatxotial ganh
of
GOULDING MARR
Broker
goto Ifotjti
NASHVILLE,
New
300 BROADWAY
H
■dwin S. ScfeMck. Pra»Mm<
Francis M. Bkm Jr.. Vies PreeUent
Albion K. Chapman. Cashier
Jesee N. Smith. Asst. Cashier
Janes McAllister. Asst. Cashier
W. M. Haines. Asst. Cashier
) 4%
MUNICIPAL
COftfrOkAfiON ) 6%
Lists Mailed
Capital
•
*2,550,000
Surplus and Profits *1,600,000
•
BONDS
WANTED
Atlanta Northern fis. 1954
Youngstown & Southern 5s. 1923
St. Louis Rocky Mtn. & Pac. 5s. 1955
Pere Marquette Common & Preferred
N. E. Investment Sec’s. Preferred
Hartford Carpet Common &. Preferred
Regal Shoe Preferred
Upon Applica&oi
Pope Mfg. Common
Waltham Watch Common & Preferred
FOR SALE
Page Woven Wire Fence 5s, 1922
Indiana Columbus & East. Tract. 5s. 1926
Lincoln (Neb.) Gas & Elect. Lt. 5s. 1941
Detroit Port Huron Shore Line 5s, 1951
Butte Water Co. 5s. 1921
Buffalo & Susquehanna 1st 4s. 1951
Pope Mfg. Preferred
Hood Rubber Preferred
Springfield Fire & Marine Ins. Co.
Lawrence Barnum & Co
BANKERS
PINE
SV-80
STREET.
Philadelphia
NEW
TORE
Washington
Plttsbum
Guanaj. Reduct. & Mines 6s & Stock
HOTCHKIN & CO
Indiana Ool. & East. Traction 5s
SPECIALISTS IN 1>ACTIVE SECURITIES
Stock Exchange Bldg., Boston
Guana j.
Pow. & Elect. 6s & Stocks
Youngstown & Southern Railway 6s
Leadville (Colo.) Water 4s
Stone & Webster
Lincoln Traction 5s
Houston Oil Common & Preferred
14T Milk Street.
BOSTON
Nassau Street
■■W YORK
F.W. MASON & CO. “ “
First Nad. Baal
CHICAGO
FOR SALE
to
United
Rys. of St. Louis 4s
Union W Lt.& P. Oo. of St.L. 1st 6s
UnlonRl. Lt.& P. Oo. of St. L. Ref. 6s
Laclede Gas Oo. of St. Louis 1st 6s
DEALT IN BY
FRANCIS, BRO. & CO.
C. H. FARNHAM
(B3TABLI3HBD 1S77)
IT STATE STREET. BOSTON
214 Nsrth 4th Street. ST. LOUIS
yield
5% to 6&%
Michigan
Municipal and Corporation
Railroad,
Uhien Railway, Gas * Electric
Portland Railway, Light It Powet
Stocks and Bonds
Our Manual
Bought and Sold
dMtribing these companies will be sent
WM. HUGHES. CLARKE
upon
Telephone Main 3448
Laclede Gas Oo. of St. Louis Ref. 6s
Kan. 0. Ry.& Lt. 6s & Underly. See’s
Butte Electric & Power Common
Hall Signal Common
WANTED
Buffalo Lake Erie Traction 5s
Wheeling Traction 5s
Bellaire Bridgeport & Martins Ferry 1st
U. S. Envelope Common
We offer for Investment
Securities of
Public Service Corporations
under the management
of our organization
ۥ Spiller A Co.
Specialists in Inactive Bonds.
£7 State street
Boston
Investors.
Selected for Oonaervative
Hampshire Elec. Ry. pref.
Kansas City Viaduct Term. 434s
TENN. Council Bluffs Wat. Wks. Co. 6s
Glens Falls Gas & Elec. 5s
-
-
La Grange Water, Lt. & P. Co. 5s
Chic. Suburban Water & Lt. Co. 5s
York»Haven Water Power Co. 5s
Mich, Lake Superior Power Co. 5s
German-Amer. Coffee Co. stock
Omaha Water Co. 5s & stock
Alfred Light & Power 5s
request.
Memphis Street Railwsy
Detroit, Michigan.
.
•
Stock.
S. C. HENNING & CO.
■o
mso.sth st..
71 Broadway
LOUISVILLE, KY.
X'i&lu.if a w
Hew York State Railways, common
Mohawk Valley do.
GEORGE L. WARE
ALL LOUISVILLE LOCAL SECURITIES
*nd8ttfe.
NEW YORK CITY
HOLDERS OF
,
.....
Qua kertown Traction 5s
COMMUNICATE WITH
George EL At lee & Co.
BSISUta Street, BOSTON, HASS.
MNN
MIW YORK
Bankers
lfi
119 8. fourth St.
Philadelphin
Members Philadelphia Stock1 Exchange
Grand
Rapids Ry.
Bonds,
doe lfll
C. b. Van nostrand
Sutton, Strothbr & Co.,
«e WALL STMMMT
I Nbu STEALS
i1
--Jl
i
1.4 11 ?£• v-
„
Bank snd TfWt
NEW YORK AND
_
.
BROOKLYN
2 WALL ST..
New River
Chicago Subwar
U S. Lumber
Scrsntoa Raflwa:
String? Break Water
BOUGHT AND SOLD
CLINTON
sus 4
Wots Throwing
■
-^aaeasu.
CoflHeries
GILBERT
NfeW YORK
_
R. T.
„
it Creek
,Wr;TB.^k'Wiro^V.
Nor them States Power Co.
Deaver Gae ft ElectricJs
Vj.
Northern Idaho A Montana Power Co.
JAMES N. WRIGHT & CO,
% Buffalo & Susquehanna Equipments
ftiudfeon &r Manhattan Equipments!!
Missouri Pacific Equipments
|§ Rock Island Equipments
A Somerset Coal Co. 1st 5s, 1932 fg
„
Specialize in Securities of
Jntf
Tam pie Iron
Nevada California:Power Co. hood* and stock
Denver ft N. W. Ry. 5s end stock
Trac.
WOLFF & STANLEY
Tel. 6557 Broad
We dcsIre
tax
Vfldhna/BiMAngdt54 Nossiakfeett.
1 IwF
l
Sec. Nat Bank BWf-.
*>mmm*)***m*** m# y©rk. n. t 423 Spruce JL,
ttiona,Investigations, Settlements SCRANTON, PA.
WILKES-BARRE, PA.
[n or out of New York City
Correspondents: BDWARD B. SMITH A CO..
8attrfaotory References
tf Plus St.. New Yetk Qty.
.
■;«* *
*
27 William St.. N. Y
oUferfngs trf free of
bonds
in
the
State
of
Pennsylvania
A
i
%\«J‘
WURT8, DULLES A CO.
Ui S FOURTH ST..
PHILADELPHIA
Telephone Lombard 1060-1061
*
V.
THE CHRONICLE
ewctcmt gfxntd
[Vol.
Lxmi
guqnivit*.
Detroit Southern, Ohio Southern Div. 5s, 1941
Toledo Terminal Railroad 4J4s, 1957
Central Branch, Union Pacific 4s, 1948
New Orleans & Great Northern 5s, 1955
Denver Northwestern & Pacific 4s, 1952
Atchison & Eastern Bridge 4s, 1928
Great Northern Rwy. of Canada 4s
Macon Dublin & Savannah 5s, 1947
Pere Marquette Con. 4s & Ref. 4s
Providence Securities deb. 4s, 1957
Gulf & Ship Island 5s, 1952
Victor Fuel Co. 5s, 1953, and O’Gara Coal Co. 5s, 1955
United Electric Co. of N. J.
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, toe
Oranges and Montclair.
6. W. Walker & <
TaL 100 Broad.
«
95 Broad St.% Now fwt
Pacific Gas Co.
AND ALL OTHER SECURITIES DEALT IN
COMMON AND PREFERRED
F.
J. LISMAN & COMPANY,
Western Power Co.
COMMON AND PREFERRED
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
SUTRO BROS. & 00.
NEW YORK
STREET,
Land Title A Trust Go. Building, PHILADELPHIA
89 Pearl Stmt, HABTPOBD
BANKERS
44 PINE STREET. NEW YORK
Ifembers New Yerk Steak
Tri-City By. A Lt. 6% Notes, Mch. 1912
Seaboard A. L. 3-yr. 5s, May 1911
Robt.Qlendinning JbCo.
LIBBEY ASTRUTHER8
Atlantic A Danville 4s, 1948
Buffalo A Susquehanna 4s, 1951
Richmond-Washington Co. 4s
Mtge. 6s
85 Cedar Street
West. N. Y. A Pa. 1st
NEW YORK
A.
A
LISMAN * CO
Choctaw Okla. A Gulf Cons. 5s
,
16 Broad St.. Now York
Tal. MW Broad
Norfolk A Western
Equipment 4s
Pennsylvania Gen. Fit. Equipt. 4s
Syracuse Rapid Transit 1st 6s
Public Service Corp. 3-year Notes
Central Pacific 3 3^
New Haven 6s
Canton, 0., Electric 5s, 1937
Canton, Q., Preferred Stock
Aurora Elgin A Chicago 5s, 1946
Seattle Lighting Co. 6s
Houston & Texas Cent. 4s
Manufacturers’ Water Go. 1st 6s
~~~
Reading General 4s
WANTED
NATIONAL FUEL GAS
Duluth Edison Elec. Pref. Stock
H. L. NASON A CO.
Shawm at
Bank
Bull dine.
BOSTON, MASS.
T. W. STEPHENS & 00 FREDERIC H. HATCH & CO.
BANKERS
2 WALL RESET
New York
NEW TORE.
WE BUT AND SELL
GEORGIA STATE AND MUNICIPAL
INVESTMENT
BONDS
BONDS
Interest allowed
J.
H.
HILSMAN
& CO.
Individuals and
on
accounts of
Corporations
EMPIRE BUILDING. ATLANTA. GA.
We offer
WE OFFER SUBJECT TO PRIOR SALE—
Baldwin Loco. Works 5s. 1940. at 101 A lot.
Peoria Gas & Elec. 1st 5s. 1988. at 100H ft Int,
Rochester Gas & Elec. 5s. 1918. at 100 ft int.
Sou. Ry. Equip. 4Hs (Ser. H). 1914.at 4.89%.
L. S. & M. S. Deb. 4s. 1931. at 98H A hit.
Norfolk & Western Div. 4s, 1944, at 93 H A 1st
Omaha (Neb.) Qas 5s. 1917. at 97 H ft Int.
Northern Indiana Gas & Elec. Preferred far Ni.
Member* ot the Philadelphia Stock
First Mtge. 5% Sink. Fund Gold Bonds
due November 1st 1954.
Wail St.. N. Y. Price 90 A int.
Yielding 5.60%.
Chicago & North Western
Underlying Issues
Exempt from taxation in New York State
WE WANT TO BUY
Somerset Coal 5s
Fairmont Coal 5s
BURGESS, LANC A CO.
Private
Cudahy Packing Co. 5s
Houston & Texas Central 4s
Southwestern Coal & Impt. 6s
Dayton Union Railway 4s
Cincinnati Lebanon & No. 4s
J. H
80 Broadway,
BLAKE & REEVES
Win
BOSTON
50 State Street
M. 1594 J.hn
84 Pin. Stmt. N.W M
Telephone 14170-9 Jehn
BECKER A CO.
Tot. 585 Hector
NEW YORK
34 Pln« Street
BlilMje
Telephones, i Bell-Spruce 81-31.
I Key stono-Race 899
Power Co.
FERRIS A WHITE,
ST
50 Ooi
Private telephone between New York and
West End Trait Bldg., Pfclla., Fa.
Niagara Lockport & Ontario
Colorado A Southern 1st 4s
m. IU7-I HanoTer
80 Broad Street
REED A. MORGAN & CO.,
$25,000
Columbus
Connecting*& Term. 5s
^
Chicago A Western Indiana 4s
(0. O4G. A St. L.y Cairo Div. 4s
;
400 Chestnut Street. Philadelphia.
WANTED OFFERINGS
New York
Public
Public
OF
Utility Bonds
Utility
BONDS
of Established Merit
Edward V. Kane & Co.
BONDS
Biker, Ayling & Company
BOSTON
PhUadelplila
PrevMtnee
MORRIS BUILDING, PHILADELPHIA.
Telephones,Bell-Spruce 3782. Keystone,Race 680.
Amer. Telephone Coll. Tr. 4s, 1929
Penna.'RR. Co. Conv. 33^s, 1915
Schwarsschild A Sulzb. Deb. 6s, 1916
Western Pacific By. Co. 1st 5s, 1933
CURTIS & SANGER
Heathen N.Y..BeatenfcOfclcageStock Exehaages
48 Wall Street
Boston
NEW YORK
Pingree, McKinney & Co.
8
Congress Street,
Boston.
Realty Associates
Metropolitan Bank
Coal & Iron National Bank
LUTZ
&
COMPANY
Bank and Trutt Co. Stocks.
CWeace 26 Broad 8t.t
N. Y.
Tel. 273 Braid.
O0T. 29
THE CHRONICLE
1010.]
XI
©ttrcjmt H<ruul fcuptiKles.
Herring-Hall-Marvin Safe Go. stockH
Mexican International 1st 4s, 1977
(stamped)
Railroad Securities 4s, 1952
Houston ft Tex. Gent. 1st 5s, 1937
Gons. Water Go. of Utica gen. 6s, 1930
Ashland Water Co. 1st Ref. 6s, 1959
Keokee Cons. Goke Go. 1st 5s, 1959
Madison Trust Co. stock
wade. Wfnmlll &Co«
BANKERS
20 BROAD STREET,
Telephone 445-6-7 Rector
Republic Iron ft Steel 1st 5s, 1934
Northern Pacific 3s, Registered
Iowa Central 1st 5s, 1938
Montana Central 1st 5s and 6s, 1937
St. Paul Underlying Bonds
NEWBORG & CO.,
MEMBERS N. 7. STOCK EXCHANGE
60 BROADWAY.
.N. Y.
PRIVATE
Cable Address.
“NEWROSB’*
WIRE TO ST. LOUIS
International Text Book Stock
York Haven Water Power 5s, 1951
Chicago Subway 5s
San Antonio Telep. Go. 6s, 1921
5 Nassau Street
NEW YORK
Brooklyn Union Gas 1st
con. 5s
Macon Dublin & Savannah 1st 5s
Com Products Refining Co. deb.5s, 1901
Southern Ry. con. 5s, 1994
Lake Shore ft Mich. So. 1st reg. 3^s
EYER & COMPANY
Tel. 7750 1-8-8 Hanover
87 Wall Street
NEW YORK
New Orleans Mobile & Chicago 5s
New Mexico Railway & Coal 6s
Central New England Income 5s
Mobile Light & Railroad 5s and 6s
West Kentucky Coal 5s
Consolidated Indiana Coal 5s
Phenix National Bank Stock
t,
Baltimore & Ohio Secured 4
due 1913
Southern Railway Three-Year 5s, due 1913
RAILROAD
EQUIPMENT BONDS
INDUSTRIAL BONDS
California Gas & Electric Unif. & Ref. 5s, due 1937
General Rubber Company Gtd. Debenture 4^8, due 1915
Average income
Send for
JosepbUlalkcrSSoNS
Exchange,
St.
New
York.
Private wire to Philadelphia.
Coffin & Company
HIW YORK.
OFFER
Atlantic ft Danville 4s
Central Indiana 4s
Rock Island 6s
Ogdensburg ft Lake Champlain 4s
Morris ft Essex Registered 7s
St. Louis Iron Mountain ft Sou. 5s
Texas ft Pacific 1st 5s
Duluth South Shore ft Atlantic 5s
&%
0
Circular No. R-7, descriptive of the above securities.
28 Nassau
Street, New York
Branch Offices
5th Ave. ft 43d St., New York
33 Lombard St., London, E. 0
OFFERINGS WANTED
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
R. M. Stinson & Co.
North American Bide..
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell Walnut 22-90
Keystone Race 4-99
Kings Co. Elect. Lt. ft Power 5s, 1937
Richmond ft Danville 5s, 1927
St. Louis Iron Mt. ft So. Gen. 5s, 1931
Southern Ry., Memphis Div. 5s, 1996
Chicago ft Eastern Illinois 5s, 1937
Railway Equipment Issues
FREEMAN 4bCOMPANY
U PINE STREET. NEW YORK
Telephone 8069 John
J. K. Rice. Jr. & Go. Will Sell
25
100
100
100
100
20
90
100
40
50
62
75
25
10
25
20
20
American Brass
Amer. Chicle Com.
Amer. Lithographic Com.
Borden’s Milk Com.
Borden’s Milk Pfd.
Childs (Rest.) Co. Com.
Herring-Hall-Marvin
International Elevating
Mohawk Valley
Nat. Light, Ht. & Power Com
New York Curtain
N. Y. State Railways Com.
Sen Sen Chiclet
Singer Manufacturing
Thompson-Starrett Com.
Trenton Pottereis Com.
Trenton Potteries Pfd.
106 Tri-City
Ry. & Lt. Pfd.
lOO Underwood Typewriter Pfd.
50 Union Typewriter Com.
115 Wells. Fargo Express
100 Western Pacific Ry.
We have GOOD MARKETS in
active securities, and respectfully
J. K. Rice. Jr. & Co.
WILL BUY OR SELL
Westchester Lighting 1st 5s
Due 1950
GILMAN & CLUCAS
84 Pine Stree t
NEW YORK
1st Nat. Bank Bldg..
On application we will recommend shares af¬
fording a participation in the profits to be made
in the development of the gold fields of
PORCUPINE
unlisted and in¬
invite inquiries.
’Phones 7460 to 7466 Hanover. 33 Wall St., N.Y.
NEW HAVEN. CT.
Railroad and Other
Investment Bonds
25 Broad Street. New York.
C. K. B
WADE
Tel. 6744 Hanover
Denver & Rio Qrande 1st Consol. 4s, 1936
Kansas City Southern 5s, 1950
N. Y. Cent.—Mich. Cent. coll. 3Ks. 1998
Lehigh Valley Terminal 5s, 1941
New Haven Deb. 4s, 1956
Duluth & Iron Range 1st 5s, 1937
Edison Elec. Ilium, of Brooklyn 4s, 1939
N. Y. Lake Erie & Western 7s. 1920
Superior & Duluth 4s, 1936
Northern Ohio 1st 5s. 1945
Wis. Central, Superior & Duluth 4s, 1936
N. Y. Susq. & Western Ref. 5s. 1937
N. Y. N. H. & Hartford Deb. 4s. 1956
Broad
over
5.50
5.90
Guaranty ofTrust
Company
New York
Equipment Bonds and Car Trusts
Swartwout &
84 WALL ST
Members New York Stock
4 80
4 90
_
WARREN, GZOWSKI & CO.
DOUGLAS FENWICK & CO.
90
4.90
4.8O
5.40
Chicago Rock Island & Pacific Equipment 4J^s, Various maturities-.
Seaboard Air Line Equipment 5s, Various maturities
Toronto.
Fonda Johnstown & Gloversville 1st 4s, 1950
Tel. John 109
4.45%
_
SHORT-TERM NOTES
Central Union Gas 5s, 1927
Standard Gas (N. Y.) 1st 5s, 1930
Western Power Common
Columbus ft 9th Ave. 1st 5s, 1993
Rochester Syrac. ft Eastern 5s, 1945 Second Ave. Cons. 5s, 1948, Tr.Co. Ctfs.
Schwarzschild ft Sulzberger 6s, 1916 Royal Baking Powder pref. stock
Paint Creek Collieries 5s, 1922
PATERSON & CO.,
Railroad Equipment Bonds
Tel. 1985-6-7 Rector
80 Broad St.. N. Y
MEGARGEL & CO.
Y'Xut
RAILROAD BONDS
Chicago Milwaukee & St. Paul Debenture 4s, due 1934
Interborough Rapid Transit Mortgage 5s, due 1952
E. T.
Lake Shore & Mich. Sou. deb. 4s, 1931
renepbone 4390 Rector.
INVESTMENTS
Appenzellar
BANKERS
49 Wall Street.
WANTED
Indianapolis Trac. & Terminal First 5s, 1933
Susquehanna Bloomsb. & Berwick 1st 5s. 1952
Union Traction Co. of Indiana First 5s. 1919
Susquehanna Bloomsburg & Berwick RR. Stock
SAMUEL K. PHILLIPS &. CO.
421 Chestnut St.
Philadelphia '
NEW YORK CITY
Members of Philadelphia Stock Exchange.
Members N. Y. Stock Exchange
44 Pine Street
CITIES SERVICE CO.
Stocks
PACIFIC GAS ft ELECTRIC CO.
Stocks
FOR SALE
HUDSON COUNTY GAS CO.
1st 5s, Nov, 1949
Bought and Sold
LAMARCHE &
Tel. 5775-6 Broad.
COADY,
36 Bread SL. If. Y.
W. E. R. SMITH & CO..
tO Broad Street
New York
St. Louis
Bridge 7s
Chesapeake & Ohio Refund. 5s
Pere Marquette Consol. Refund. Debentures
Central Vermont 4s
N. Y. L. E. & West. Coal & RR. 6s.
Cincinnati Hamilton & Dayton Genl. Mtge.
Montana Central 5s & 6s
St. Louis & San Francisco 4J4s, 1912
Delaware & Hudson Conv. Debentures regstd.
Buffalo & Susquehanna 4s & 4V^s
Missouri Pac.—Central Branch 4s
Atlantic & Danville 2d 4s
WERNER BROS. A GOI OSCHNIPT
Tel. 4800-1-2-3-4-5 Brand.
25 Broad Stmt, N. Y.
XU
THE CHRONICLE
[VOL.
giuauclal.
'
ia
HYi
C - -1
*■
LXXXX1
gtuuucial.
X
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York,
H. M. BYLLESBY & CO.
January 21st, 1910.
The Trustees, in conformity with the Charter of
the Company. submit the following statement of its affairs
on the 31sf of December, 1909.
Premiums on Marine Risks from 1st January, 1909, to 31st December. 1909
.33,759,391 25
Premiums on Policies not marked oil 1st January, 1909
............
717,712 70
Total Marine Premiums
ENGINEERS
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
3322,048 40
145,079 82
...
EXAMINATIONS and REPORTS
33,791,557 05
3407,726 28
218 La Salle
Losses paid during the year which were estimated In 1908
and previous years
3829,378 19
Losses occurred, estimated and paid In 1909
1,149,459 56 31.978,837 75
Less
Salvages
3249,891 07
235,520 48
Re-lnsuranoes
Street, CHICAGO
Portland, Ore.
Oklahoma City, Oklahoma.
Mobile. Ala.
485,411 55
31,493,420 29
Returns of Premiums
Expenses, Including officers' salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
300,285 14
...
Office of
ASSETS.
United States & State of New York
Stock, City, Bank and other Se¬
LIABILITIES.
Estimated Losses and Losses Un¬
35,461,042 00
Special deposits In Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall A William Sts..
A Exchange Place.34.299,420 04
Premiums on Unterminated Risks
Certificates of Profits and Interest
settled
curities
Other Real Estate A
olalms due the com¬
pany
75,000 00
4,374,420 04
Premium notes and BUls Receivable
Gash In the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
1,213.069 68
Aggregating
■Blvi&en&z.
3350.913 *4
H.
Return Premiums Unpaid
Certificates of Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums
Certificates of Profits Outstand¬
ing
203,468 95
120,569 42
22.353 49
7,404,890 00
370,000 00
Real Estate Reserve Fund
Office of
H. M. BYLLESBY & COMPANY
239,948 04
633,405 13
Engineers
312,921,890 89
Aggregating...'
311.260.125 76
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
the first of February next.
The outstanding certificates of the Issue of 1904 will beTuesday
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 for 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-
Q. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
CLEMENT A. GRISCOM,
DALLAS B. PRATT,
ANSON W. HARD.
GEORGE W. QUINTARD.
LEWIS CASS LED YARD,
A. A. RAVEN,
CHARLES D. LEVERICH,
JOHN J. RIEER,
LEANDER N. LOVELL,
DOUGLAS ROBINSON.
GEORGE H. MACY,
GUSTAV H. SCHWAB.
CHARLES H. MARSHALL.
WILLIAM SLOANE,
NICHOLAS F. PALMER.
ISAAC STERN,
CORNELIUS ELDERT,
RICHARD H. EWART.
PHILIP A. S. FRANKLIN.
HERBERT L. GRIGGS.
HENRY PARISH.
ADOLF PAVENSTEDT.
CHARLES M. PRATT.
WILLIAM A. STREET,
GEORGE E. TURNURE.
Managers
Chicago
The
Board of Directors of the SAN DIEGO
CONSOLIDATED GAS & ELECTRIC COM¬
PANY of San Diego, California, has deolared a
quarterly dividend of one and three-quarters
Ser cent (14%) upon the preferred stock of the
ompany, payable by check October 15th, 1910,
to stockholders of record as of the close of busi¬
ness
By order of the Board.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN,
GEORGE C. CLARE,
CLEVELAND H. DODGE.
Managers
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 of the Company, payable by
check October 15th, 1910, to stockholders of
record as of the close of business September 30th,
1910.
ROBERT J. GRAF, Assistant Secretary.
685.546 90
_
BYLLESBY & COMPANY
Chicago
32.393,297 00
Unpaid
M.
Engineers
September 30, 1910.
ROBERT J. GRAF, Assistant Secretary.
Office of
THE CONSOLIDATION COAL COMPANY
Baltimore, Md., October 8th. 1910.
The Board of Directors have declared the
regular quarterly dividend of 1 4 per cent on its
Capital Stock, payable October 31, 1910, to the
Stockholders of record at the close of business
October 24. 1910.
The transfer books will be closed at 3 o’clock
P. M. October 24, and will be reopened at 10
o’clock A. M. November 1. 1910.
Dividend checks will be malleo.
T. R. STUART, Assistant Treasurer.
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART, 4tA Vice-President.
Accountants.
LYBRAND,
ROSS BROS A
MONTGOMERY
Ncdcrlandscfa Administrate- & Trustkantooi
(NETHERLANDS ADMINISTRATION A TRUST GOMPANT )
218
Slngel
■
(Peossylviaia)
H* jHLKIIffcSZ, President
.i,
ii
NEW
YORK,
165 Broadway
PHILADELPHIA,
Land Title Bldg.
PITTSBURGH,
Union Bank Bldg.
CHICAGO, First National Bank Bldg.
Board of Directors!
H. WALTER. L.D..
Chairman.
deKOck d» Uyt den Bogaard.
A. A. H. B01SSEVAIN.
Ph. MEES.
Director of Swtaa Bankvereln and
R. Mees 8b Zoonen.
of Labondmre, Oyenc a Go’s Bank.
JH.
President.
M^GILISSEN
Arnold Gill
AUG. KALFP.
Jan Kalff 6 Co.
Acts
Acts
at
as
CERTIFIED PUBLIC ACCOUNTANTS
A. L. Q. H. PICHOT'
Westerwoudt A Co.
W. M. SCHEURLEER.
Scheurleer A Zoonen
swill.
Executor,
Trustee of
.
JAMES PARK A CO.
P. Th. EVERARD.
P.
Certified Public Accountant*
AMSTERDAM. (Holland.)
How York, Chicago, Cincinnati, and
London t
Administrator, Trustee, Guardian, Afctftt,
Cdrjktfitioii Mortgages.
auditors
England.
ron: .ytNAirokti
TIONS. INDUSTRIAL
INSTITU¬
AND
MINING GOMPANM8
favestacattons. Ft—wistal Statements.
Periodical A edits and Awsntlst
gtuaucial.
■
The most conservative bankers,
broken aad
before them
investors have constantly
*k*
Homo Officof 206
La Sail#
Street
ON
Court—Fidelity—Contract—Miscellaneous
both in the
A >, % jf
*
.
.i*
** ^
t
Surety Company is **Prompt Service?9
handling of its business
-
■XiJ
WRITES ALL CLASSES SURETY BONDS
.
4
’
BABSON’S REPORTS
CHICAGO
*.
I1 '?■ *. fc.
The motto of the Illinois
MM
and the adjustment
of its losses
Fundamental Conditions
«iFpf details oonsdtnlngtlieee Reports
or
our
"Business Barometers” (wkich we install la banke
both tor their own and customers’ use) address
Babson’s
Offloes, Wellesley Hills. Maas.
Compiling
NEW YORK OFFICE.
U STONE STREET
Largest Statistical OrgmutraHlon la the U. S.
Oct.
THE CHRONICLE
291910.]
gvust (Companies.
pnULnuli.
BANKERS TRUST COMPANY
Coupons Maturing
1, 1910,
November
xtn
Payable at the Office of
Central Trust Co.
of New York
7 WALL
STREET, NEW YORK
Surplus apd Profits, $6,295,000
Capital, $3,000,000
DIRECTORS
STEPHEN BAKER, President Bank of the Manhattan
Co
SAMUEL
N
Y
Q.
BAYNE, President Seaboard National
Bank, N. Y.
EDWIN M. BULKLEY. Spencer Trask & Co.. Bankera, N. Y.
JAMES O. CANNON, President Fourth National Bank,
N. Y.
EDMUND C. CONVERSE, President, Now York.
HENRY P. DAVISON, J. P. Morgan & Co., Bankers,
54 WALL STREET
COUPONS
N Y
Chicago ft Eastern Illinois RR. Co.
Gen'l Consol. First Mortgage 5% WALTER* E. FREW, Vice-President Corn Exchange
Bank, N. Y.
FREDERICK T. HASKELL, Vice-President Illinois
County of Clay (Mississippi) 6%
Trust & Savings Bank, Chicago.
Central Indiana Railway Co.
A. BARTON HEPBURN, President Chase National
Bank, N. Y.
First Mortgage 4%
THOMAS W. LAMONT, Vice-President First National
Oolorado-Utah Construction Co.
Collat. Trust Notes 6%
Bank, N. Y.
OATES W. M’OARRAH, President
Metals National Bank, N. Y.
Mechanics and
EDOAR L. MARSTON, Blair & Co., Bankers, N. Y.
GEORGE W. PERKINS, J. P. Morgaa 4 Co., Bankets,
N. Y.
DANIEL E.
POMEROY, Vice-President, New Yerk.
PORTER, President Chemical National
WILLIAM H.
Bank, N. Y.
DANIEL G. REID, Vice-President Liberty National
Bank, N. Y.
BENJ. STRONG JR., Vice-President, New Yerk.
EDWARD F. SWINNEY, President First Nattered
Bank,
GILBERT
Bank,
EDWARD
Kansas City.
G. THORNE, Vice-President National Park
N. Y.
TOWNSEND, President Importers’ 4 Tind¬
ers' National Bank, N. Y.
ALBERT H. WIGGIN, Vice-President
Chase National
Bank, N. Y.
SAMUEL WOOLVERTON, President Oallatli National
Bank, N. Y.
Railway Co. 5%
E. 0. CONVERSE, President.
B. STRONG JR., Vice-President.
Creek Railway Co.
D. E. POMEROY, Viee-President.
First Mortgage 6%
F. I. KENT, Vice-President.
F. N. B. CLOSE, Secretary.
Des Moines Union Railway Go.
H. W, DONOVAN, Treasurer.
H. F. WILSON JR., Asst. 8ec*y.
First Mortgage 5%
Equitable Gas Light Co. (of Memphis,
giui&ends.
gitfidxiuls.
Tenn.) 5%
THE ATCHISON TOPE KA & SANTA FE
Flint ft Pere Marquette Railroad Co.
RAILWAY COMPANY.
WINSLOW, LANIER & CO.
New York, October 4, 1910.
Consolidated Mortgage 5%
The Board of Directors has declared a dividend
59 CEDAR STREET,
Indiana
(being dividend No. 22) on the COMMON STOCK
Gas ft Oil
Duluth Street
Danville ft Grape
Natural
Go.
First
Mortgage 5%
Litchfield ft Madison Railway Co.
First Mortgage 5%
Lyons Water-Works Co.
Consolidated Mortgage 6%
Mutual Fuel Gas Co.
First
Mortgage 5%
of this Company of ONE DOLLAR AND FIFTY
CENTS ($1 50) per share, payable December 1,
1910, out of surplus net income, to holders of said
COMMON STOCK registered on the books of 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.
New York Air Brake Go.
DIVIDEND NOTICE.
Pacific Gas ft Electric Company
First
Mortgage Convertible 6%
Railway Co.
First Mortgage 6%
Peoria ft Pekin Union Railway Co.
Second Mortgage 4
Pecos Irrigation Co.
Prior Lien 6%
St. Louis Southwestern Railway Co.
First Mortgage 4%
St. Paul Union Depot Co.
First Mortgage 6%
Scranton Passenger Railway Co.
First Mortgage 6%
Saranac ft Lake Placid Railway Co. 5%
University of the City of New York 4%
Vicksburg Shreveport ft Pacific Ry. Co.
Prior Lien 6%
Peoria ft Pekin Union
Wabash Railroad Co.
First Mortgage
5% and Gold
4^%
Notes
Due November 20th
B. T. Babbitt
First Mtge.
Sinking Fund 6%
(NATIONAL RAILWAYS OF MhXICO).
25 BROAD STREET, NEW YORK.
First Preferred Stock Dividend No. 6.
A dividend of One Per Cent (One Dollar Gold
or Two Mexican Gold Pesos per share), being the
sixth dividend on the First Preferred Stock o-
1
this Company, has been declared, payable Novemj
ber 10, 1910, to the holders of Dividend War¬
rants No. 6, annexed to certificates representing
such stock, upon presentation and surrender of
such Warrants to the Company at its office In New
York or Mexico.
Dividend Warrants are payable at option of
holders at the rata of Two Mexican Gold Pesos to
the Dollar, either fii the City of Mexico in Mexican
Gold Pesos, or In the City of New York In United
States Gold.
CLAYTON SNYDER, Assistant Secretary.
October 28, 1910.
-
--
■-
-----
A—
-
-
-
PREFERRED DIVIDEND NO
2.
Office of the
AUGUSTA & WATERVILLE
LEWISTON
STREET RAILWAY.
,
4
ending October 31, 1910, payable by check
and
the 15th day of November, 1910, to stock
holders of record at Three 'oclock P. M., on the
31st day of October, 1910.
Owners of such
Preferred stock evidenced by certificates issued in
the name of any other person should have the
same transferred on the books of the Companj
and new certificates issued in their own names
on or before Three O’clock P. M., of October 31.
on
1910, if they desire dividend checks made payable
to themselves.
D. H. FOOTE,
Secretary of the Pacific Gas & Electric Go.
V1RQINIA-CAROLINA CHEMICAL CO.
Office of Treasurer.
Richmond, Va., October 27 1910.
Pursuant to a resolution of the Board of Direc¬
tors of this Company, July 8th 1910, the second
installment of One and One-quarter (1H) Per
Cent on the dividend of Five (5) Per Cent then
declared on the Common Stock will be paid on
November 15th 1910 to all Common stockholders
of record at the close of business November 5th
1910.
For the purpose of said dividend, the Com¬
mon Stock Transfer Books will be closed from 12
noon, November 5th, to 10 A. M., November 16th,
S. W. TRAVERS, Treasurer.
1910.
AMERICAN
FERROCARRILES NACIOHALES DE MEXICO
-
Notice is hereby given tnat a meeting of the
Board of Directors of this Company has been
called for Three O’clock P. M., on October 31st,
1910, for the purpose of declaring a dividend of
$1 50 per share upon the Preferred capital stock
of this Company for the period beginning August 1,
The Board of Directors of the Lewiston Augusta
Watervllle Street Railway has declared the
regular quarterly dividend of ONE AND ONEHALF PER CENT upon the Preferred stock,
payable November 1st, 1910, to stockholders of
record at the close of business October 15th,
1910.
Checks will be mailed.
O. E. FITZ, for Treasurer.
GAS
&
ELECTRIC
COMPANY.
NEW YORK.
THE
FOLLOWING COUPONS
AND
DIVI¬
DENDS ARE PAYABLE AT OUR BANKING
HOUSE ON AND AFTER
NOVEMBER 1ST, 1910.
The American Cotton Oil Co. Deb. 4 H*.
Cleveland & Pittsburgh Rd. Co. Gen. Mtge. 3 Hs.
Cambridge City, Ind., Water Works 4 Street
Impt. Bonds.
Electric Boat Co. 5-year Convertible 6% Notes.
Greenfield, Indiana, School 6s.
Massillon & Cleveland Rd. Co. quarterly dividend,
2%.
Marion County, Indiana, Bridge Bonds.
Pittsburgh Ft. Wayne & Chicago Ry. Go. 1st
Mtge. 7s, Series “E."
Pittsburgh Ft. Wayne & Chicago Ry. Co. 2nd
Mtge. 7s, Series “L.”
Portsmouth, Ohio, Water Works.
Portsmouth, Ohio, Refunding Bonds.
Rushville, Indiana, Water Works 6s.
Starke County, Indiana, Court House 5s.
NOVEMBER 12TH, 1910.
Portsmouth, Ohio, City Building 5s.
NOVEMBER 15TH, 1910.
Dearborn County, Indiana, Funding 5s.
Posey County, Indiana, Gravel Road.
Starke County, Indiana, Gravel Road.
NOVEMBER 21ST. 1910.
Marion County, Indiana, Refunding 3H«.
UNITED STATES OF MEXICO
$25,000,000 U. S. Gold Coin
PREFERRED STOCK DIVIDEND.
New York, October 24th, 1910.
The regular quarterly dividend of ONE AND
ONE-HALF PER CENT (1 M%> on the Preferred
stock of American Gas 4 Electric Company has
been declared for the quarter ending Septem¬
ber 30th, 1910, payable November 1st, 1910, to
stockholders of record on therhooks of the Com¬
Caja de Prestanos Para Miras da Irrigacim
y Foments de la Agricaltara, S.JL
at the close of business October 25th, 1910,
on which day the Transfer Books will dose, and
re-open November 2d, 1910.
Gold Bonds of 1908
(Institution for Encouragement of Irrigation A
Works 4 Development ox Agriculture, 3. A.) A
35-Year4y*% Sinking Fund Guaranteed
pany
FRANK B.
BALL, Treasurer.
PEOPLES OAS LIGHT & COKE COMPANY
(of Chicago).
Notice is hereby glvn that a dividend of ONE
AND THREE-QUARTERS PER CENT (1K%)
has been declared on the capital stock of this
Company, payable on November 25th, 1910, to
the stockholders of record at the close of business
on November 3d, 1910.
L. A. WILEY, Secretary.
UNITED STATES STEEL CORPORATION.
Dividend No. 28 of1X % on the Common Stock,
for the quarter ending Sept. 30,1910, was declared
Oct. 25, payable Dec. 30 to stockholders of record
Dec. 1.
Transfer books dose at 3 P. M. Dec. 1
and reopen at 10 A. M. Dec. 15.
RICHARD
TRIABLE. Secretary.
UNITED STATES STEEL CORPORATION.
Quarterly Dividend No. 38 of 1*4% on the
Preferred Stock, payable Nov. 29, 1910, was de¬
clared Oct. 25 to stockholders of record Oct. 31.
Transfer books dose at 3 P. M. Oct. 31 and reopen
at 10 A. M. Nov. 15.
RICHARD TRIMBLE. Secretary.
Coupons due November 1, 1910, of the above
at *w office
Bonds will be paid upon presentation
and after that date.
on
SPEYER & CO.,
1
24-26 PINE STREET.
New York, Oct. 29, 1910.
THE PULLMAN COMPANY.
DIVIDEND NO. 175.
A quarterly dividend of Two Dollars per shaft
from net earnings will he paid November 15,1910,
to stockholders of record at close of. business
October 31, 1910.
Checks will be mailed..
A.
INSH EIMER, Secretary.
S.wk
J
Chicago October 20, 1910.
the United states leather company.
The coupons of the Debenture Bonds of The
United States Leather Company, due Nov. 1
1910 will be paid on and after that date by*The
,
...
National Park Bank, New York.
RR:
CENTRAL LEATHER COMPANY,
GEO. W. PLUM, Treasurer.Ni
GENERAL CHEMICAL COMPANY.
MINNEAPOLIS & ST. LOUIS RAILROAD CO.
Coupons due November 1, 19 Wi from Consoli¬
dated Mortgage Five Per Cent Bonds of this com¬
pany will be paid on and after that date on pre¬
declared to stockholders of record at the dose of
25 Broad I business November 10, 1910. 3
RICHARD F. HOWE, Secretary.
F. H. DAVIS, Treasurer.
sentation at the office of the company,
Street, New York.JR
INTERNATIONAL HARVESTER COMPANY.
Quarterly dividend No. 15 of 1 *4% on the Pre¬
ferred Stock, payable December 1,1910, has, been
25 Broad Street, New York, October 21,1910.
A dividend of one aad oae-quarter (1J4%) per
cent has been declared on the Common Stock of
this Company, payable December 1st, 1910, to
stockholders of record at noon, November 19,
1910.
JAMES L. MORGAN, Treasurer.
THE CHRONICLE
[VOL.
TJIITl.
gtwattjctal.
WE
OFFER, SUBJECT TO PRIOR SALE AND ADVANCE
IN
PRICE,
J
J
$2,000,000
Western
New York &
Traction
First and
Pennsylvania
Company
Refunding Mortgage 5% Gold Bonds
TAX-FREE IN NEW YORK AND
PENNSYLVANIA
Dated December 1, 1906
Denomination $1,000
Due
January 1, 1957
Callable at 105 and interest prior to
January 1, 1912
Thereafter at 110 and interest
These bonds
were
issued with the approval and consent of the
New York State Board
of Railroad Commissioners.
They
are a First Mortgage on the entire
property of the Company, operating
about 98 miles of track, subject
only to a prior lien of $300,000 covering but 30
miles of track, which lien is
being retired through operation of sinking fund.
Additional Bonds may be issued for extensions and
additions only at 85% of
actual cost.
Approximately $1,000,000
and above the proceeds of this issue has been invested
by the stockholders, which accounts for the low bonded indebted¬
ness, less than $24,000 per mile of track
operated.
over
in this property
I :
The company owns
practically perpetual franchise
its tracks lie outside of the cities on
private
rights, and approximately 60% of
rights of way.
The favorable
topographical situation
petition to
This
In
a
reduces the
minimum.
possibility of other railway
railway has been in successful operation since its consolidation
earnings have shown a consistent and steady growth.
addition to
our
examination of this property, the books
company were audited by
legality of this issue
was
com¬
in 1906.
Its
and accounts of the
Marvyn Scudder, Esq., of New York City, and the
approved by Parker, Hatch & Sheehan, Esqrs.
We recommend the bonds for
conservative investment.
Descriptive circular
will be sent upon application.
PRICE 95 AND INTEREST
Our general circular
-i
describing issues of municipal and public service
securities will be
mailed upon request.
J. S. & W. S.
Bank for
Savings Building, PITTSBURGH, PA.
CHICAGO
First National Bank
KUHN, Inc.
Bldg.
NEW YORK
37 WALL STREET
PHILADELPHIA
Real Estate Trust
BOSTON
Kuhn, Fisher &, Co., Incorporated, 15 Congress St.,
Building
Oar. 2» 1910.]
THE CHRONICLE
xv
glttxttjci*!.
Attractive Investment
Offerings
ro pir.
Albany & Susquehanna (D. & H. System) ist Mtge. 3^s, I946....3.7S%
Chicago Burlington & Quincy General Mtge. 4s, 1958
4.10%
Cleve. Cin Chic. & StL. (N.Y.Cent. System) St L. Div. 4s, i99o....4*18%
Chicago & Eastern Illinois Gen. v ons. ist Mtge. 5s, 1937
...4.23%
Toledo & Ohio Cent. (L.S.& M. S. System) West Div. ist 5s, I935..4.35%
Missouri Kansas & East. (M. K. & T. System) ist Mtge. 5s, 1942....4.35%
Midland of New Jersey ist Mtge. 5s, 1940
4.35%
New York Central & Hudson River Mich. Cent. Coll. 3^s, i998....4.40%
Toledo St. Louis & Western Prior Lien 3%s, 1925
4.45%
Cincinnati Dayt. & Ironton (B. & O. System) ist Mtge. 5s, 1941....4.60%
International & Great Northern ist Mtge. 6s, 1919
4.60%
N. Y. Susquehanna & Western ist Ref. Mtge. 5s, 1937
4.75%
Denver & Rio Grande Improvement Mortgage 5s, 1928
4.80%
Wilkes-Barre & Eastern ist Mtge. 5s, 1942
4.90%
St Louis Southwestern 2nd Mtge 4s, 1989
5.00%
St Louis & San Francisco General Lien 5s, 1927
6.20%
Bethlehem Steel Co. Secured S. F. Guar. 5% Notes, 1914
Lackawanna Steel Co. Convertible Deb. 5s, 1915
6.87%
7.13%
PLYMPT0N, GARDINER & CO.
BANKERS
87 William St..
NEW YORK
232 La Salle St..
54 Old Broad St..
CHICAGO
LONDON, E. C.
Members New York and Chicago Stock Exchanges.
Private Wires to Boston, Philadelphia and
Norfolk ^Southern Railway Go.
To the Holders of Certificates of Deposit of First
and Refunding Mortgage Bonds and Bond
Scrip of Norfolk & Southern Railway Com¬
pany under the Plan and Agreement of Re¬
organization dated July 2 1908:
EXEMPT FROM TAX
1,000 SHARES
KANSAS CITY FORT SCOTT & MEMPH. RAILWAY CO.
4% PREFERRED STOCK
NOTICE IS HEREBY GIVEN that distribu¬
tion of the stock of the New
Company (Norfolk
Southern Railroad Company) will be made to the
holders
of
the
above-described
certificates
-
GUARANTEED BY THE ST. LOUIS ft SAN FRANCISCO R3. CO.
Payable at Par
of
deposit, in accordance with said plan and agree¬
ment of reorganization (namely In the ratio of
41.142 86, par value, of said stock for each SI.000,
par value, of said bonds or bond scrip so deposited),
upon surrender of said certificates of deposit, in
negotiable form, to Manhattan Trust Company
of New York or Union Trust Company of Provi¬
dence or Old Colony Trust Company of Boston,
Depositaries, on and after November 2 1910.
Stock scrip will be Issued for fractions of shares.
New York, October 27 1910.
GEORGE C. CLARE, Chairman,
JOHN I. WATERBURY,
OAKLEIGH THORNE,
S. L. SCHOONMAKER,
RATHBONE GARDNER,
Reorganization Committee.
T. L. CHADBOURNE Jr.,
Chicago.
-
Oct. I
,
1921
TO RETURN 5%
DESCRIPTIVE CIRCULAR ON APPLICATION
Telephone
2780 Rector
Established 1864
AJIUUfttXtt
S Nassau Street
New York
Telephone 2817 Reotor
INSURANCE STOCKS
Fidelity, Phoenix, Homo,
Niagara, Continental, &e.
BOUGHT AND SOLD
E. S. BAI LEY
Counsel.
-
69 BROADWA
NEW YORK
We
own
and offer
Municipal Bonds
Issued
by Counties, Cities,
Boroughs
Towns and
fpcejetiugs.
6% BONDS
Of
Clectric
Railway and Lighting Co.
Large City—State Capital
Earnings about 8 times Interest charges.
Dividends on stock. Present price very low.
W.E. HUTTON A CO.
Members New Yerk Stock Exchange
Established 1816
26 Broad Street.
-
Now York
Private wires te Cincinnati, Chicago, San
Francisco aad Los Angeles.
ALLIS-CHALMERS COMPANY
71 Broadway, New York City.
October 6th, 1910.
To the Stockholders of the
ALLIS-CHALMERS COMPANY.
Stockholders will be
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
The Annual Meeting of the
held at the principal office of
meeting.
The Preferred and Common Stock transfer
books will be closed at the close of business on
Thursday, the 13th day of October, 1910, and will
remain closed until Monday, the 17th day of
October, 1910, at 10 o'clock A. M.
W. W. NICHOLS, Secretary.
R. M. GRANT & CO.
BANKERS
SI NASSAU STREET
NEW YORK
KANSAS CITY MEX. & ORIENT
(Common & Preferred)
RISSE A LEVENSON
'Phones 7098-7099 Hanover.
43 EXCHANGE PLACE. N. V.
if issued
the
right principles, after thorough investi¬
gation, and under the safeguards insisted upon by
reliable bond houses, are among
on
THE
MOST CONSERVATIVE
and certainly
THE MOST REMUNERATIVE
investments in the market.
We
the number of those who endeavor to
surround the investor with such safeguards as will
enable him to have at all times so broad a margin
of security behind the bonds as will provide him
are
among
The
consistent with
is
Largest Profit
safety.
The
facts
about it, and
way we get at our
patented. There is no mystery
yet our conclusions have been so accurate
not
as
To Increase the Incomes
of
our
highly
customers.
prosperous
If you would
like
to
join this
class, whose
High Interest Return
of money invested is a source of surprise and envy to
the unadvised, call on or address
PORTER, FISHBACK & CO.
BANKERS
Suite 420, Commercial National Bank
CHICAGO
Bldg.
IV
tfmtmrcWf
INCLUDING
Quotation Section
Railway Earnings Section
Bank &
Railway & Industrial Section
Electric
Bankers* Convention Section
State
Railway Section
and City Section
NO. 2366.
SATURDAY, OCTOBER 29 1910.
VOL. 91.
Week ending October
©Jxrottxtlje.
Clemrimgs
1910.
1909.
ine.cr
Dec.
22.
1908.
1907.
PUBLISHED WEEKLY.
Terms of
%
Subscription—Payable in Advance
For One Year
For Six Month*
Canadian Subscription
$10 W
fl 00
Cincinnati
Cleveland
Detroit
Milwaukee
£1 11 s.
$11 50
Columbus
Toledo
Peoria
Grand Rapids...
13 00
7 50
£2 14*.
European Subscription (ineluding postage)
European Subscription nix month* (including postage)..
Annual Subscription in London (including pcatage)
Six Month* Subscription in London (including postage)
(including postage)
Subscription includes following Supplements—
B 'NX and Quotation (monthly)
bailway and INDUSTRIAL (quarterly)
Bailway Earning* (monthly)
Terms of
] Stats and City (semi-annually)
Electric Bailway (3 times yearly)
| Bankers’ convention (yearly)
Advertising—Per Incb Space
29 00
50 00
87 00
CHICAGO OFFICE—Pliny Bartlett, 61S Monadnock Bloch: TeL Harrison 4012
Twelve Months (52 times)
Gardens, E. C.
LONDON OFFICE—-Edwards A Smith, 1 Drapers’
WILLI ASI B. BAN A COMPANY, Publishers,
New York.
P. O. Box 958.
Front. Pine and Depeyster Sts..
Published every Saturday morning by WILLIAM B.
aoob Seibert Jr., Vice-President and Secretary: Arnold
Addresses of both. Office of the Company.
Indianapolis
Dayton
Evansville
Kalamasoo
Springfield, Ill..
Fort Wayne
....
$4 20
22 00
(14 agate lines)
Months
(s times)
at,..,.,
Months (13 times)
Standing Badness Cards ) Throe
mx Months
(26 times)
Transient matter per inch space
( Two
1
283,409,724
25,123,450
20,825,287
18,796,938
13,166,962
8,602,112
Chicago
DANA COMPANY,
Q. Dana, Treasurer.
Akron
Lexington
Rockford
Youngstown
South Bend
Bloomington
Quincy
CLEARING-HOUSE RETURNS.
Mansfield
Jackson
Jacksonville, Ill
Danville
Ann Arbor
Adrian
Lansing
......
Tot. Mid.West
San Francisco...
Los Angeles
Seattle
Portland
...
Clearings—Returns by Telegraph.
Week ending October 29.
Per
Cent.
1909.
1910.
—19.0
—2.4
—1.9
$1,876,838,449
St. Louis
New Orleans-
51.520.538.910
137,671,847
118,294,023
27 £40.652
220.905,790
63,089,864
17,605,162
Seven cities, 5 days.
Other cities, 5 days...
$2,105£46£48
538.976.821
$2,477,975,808
492,468.927
—15.0
+ 9.4
Total all cities, 5 days.
All cities, 1 day
52.644,323,069
548.769.227
$2,970,444,735
605,106.833
—11.0
—9.3
New York...
Boston
Philadelphia
.
Baltimore....
Chicago
$3,193,092,296
141,092,271
120.500,048
27,000.927
232,571.009
62,993.292
16.979,812
+ 0.9
—5.0
+ 0.2
+ 3.7
$3,575,551,568
—10.7
by the above will be given next Sat¬
urday.
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 oases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday,
noon. October 22, for four years.
Week ending
1910.
8
8
2,111,199,819 2,286,791,955
155,369,479
160,592,476
62,058,092
54.652,408
29,598,009
35.288.464
9,789,455
11,233,962
5,948,132
7.597,124
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
1909.
7,126.645
3,839,964
2,674,429
...
Syracuse
Reading
Wilmington
Wilkes-Barre
...
Wheeling
Harrisburg
2,456.653
1,613£15
1,244,482
1,305,493
1.854.083
1,200,000
940.026
York
1,460,696
Trenton
050,000
553,221
Erie
6,437,732
3,388.847
Altoona..
531,500
530,741
Franklin
288,860
Total Middle.. 2,409,569,084
2.567,793 £55
534,723
Binghamton
....
$
%
—7.7
+ 3.4
+ 5.0
+ 19.2
+ 14.7
+ 27.7
+ 10.7
+ 13.3
+ 15.5
+ 1.3
—8.1
2,316,785
2,425,125
1,646,345
1.575.628 —21.0
1,567,155 —16.7
—1.5
1,882,011
1,334,342 —10.1
907,848
+ 3.5
+ 1.6
1,437,647
824,725 + 16.2
598,036
601,170
525,700
483.037
286,000
Greensburg
Chester
1908.
—7.5
—11.1
+ 1.1
—6.2
+ 9.9
+ 1.0
1907.
8
1,599,252,133 2,103,641,524
156,844,067
112,574,413
40,792,804
23,783,886
7,953,563
5,918,448
5.410,889
3,276,918
2,240,630
1,975,943
1,350,624
1,129,574
1,452,221
1,476,538
1,091£16
789,674
1,369,946
644,509
490,869
415,635
449,900
425,064
260,000
Total Pacific..
Kansas City
Minneapolis
Omaha
St. Paid
Denver
St. Joseph
Duluth
Dee Moines
Sioux City
Wichita
Topeka
Davenport
October 22.
Inc. or
Dec.
._
BiUlngs
Pasadena
The full details for the week covered
Clearings at—
Spokane
Salt Lake City..
Tacoma
Oakland
Helena
Sacramento
San Diego
Fresno
Stockton
SanJoee
North Yakima
58.768,255
32,802,749
9,363,317
Lincoln
Cedar Rapids
...
Fargo
....
.....
Atlanta
Memphis
Savannah
Fort Worth
Nashville
....
Augusta
292,790
Birmingham
....
Little Rock
Charleston
Knoxville
Jacksonville
Chattanooga
Boston
Providence
Hartford
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford
Lowell
Holyoke
Total New Eng.
194,487,646
13,487,700
3,884£69
3.237.533
2,469,218
2,278,199
2.621.641
1,365,643
1,713.350
601,626
-
550.082
226,697,007
177,253,083
13,517.700
3,529,976
2,712,438
2,250,000
1,803,930
1,789.639
1,548.126
1,383,864
516.193
556,846
206,861,795
+ 9.7
0.2
+ 10.1
+ 19.4
+ 9.7
+ 26.3
+ 46.3
—11.8
+ 23.8
+16.5
—1£
+ 9.6
1,814,525,196 2.394,413.775
142,992,113
11,076,000
3,106,863
2,092,922
1,618,299
1,601.607
1,429,489
1,366,247
178.266.579
10,915,500
3,515£44
2,465,625
2.450.000
2.436.875
1,771,930
1,362.698
969,407
562,506
419£77
926,913
631,476
468,027
167.234.830
205.211.467
Mobile
Oklahoma.....
Mason 2...
Beaumont
Austin
........
Vicksburg
....
Jackson........
Meridian
Wilmington N.C
Total Southern
Total all
246.193,946
26.833.450
15,156 £63
12,967.830
11,001 £84
6,699,563
4,860 £00
3,346.990
3,106,589
2.182.706
1£77£19
1,934,229
+16.0
982,262
884,700
780,056
—1.2
625.0001
547,400
677,724
693,165
381,995]
432,775
438,971
598,005
321,489
262.597.fiH
26.765 £0fi
18£10£05
14.424.752
13.026.896
7,643.776
5,981 .lfifi
4,064,653
3.284,028
2,441.711
1,790.044
2,131,662
1,092,620
861,585
850£14
790£00
606£40
680.755
970.843
492.958
472.818
533£80
435.094
404.461
397,352
380,204
239,580
249.589
500,000
487,755
393,750
—5.6
252,131
+ 14.0
430,505
—3.6
177,214
—6.0
23.757
22,323
349.551
+8.6
379,610
523,318 + 17.5
615,082
388,144 Not Included In total
345,185
373,375
295,000
370,000
399£17,782
+ 1.7
39,061,157
+30.6
+29.8
341,525,825
35,893,119
9,802,804
9,039,261
7,000,000
3,437,276
5,723,496
4,722,115
1,578,878
823,985
917,160
372£58,698
43,900,973
10,579,398
12.820.714
8.591 £04
3.528.261
6.754,091
5,038,236
2,355.403
1.243,674
406,054.835
51,100.935
17.546,432
12,113,942
12.013,303
4.500,000
6.473.403
5,724,986
3.131,699
1,046,713
1,559,553
1,330,000
1,060,291
773,031
654 £46
594,628
126,981
876,353
120,520,414
57,605,633
25,799,407
17,767,874
11,659 £38
11,397,468
6,327,260
4,677,888
3,976£16
3,011,277
3,341,362
1,369,385
1,595,979
1,724,158
1,535,000
826,395
650,116
689,537
316,961
18.987.040
794,489
500.400
539,562
516,687
610,000
810,000
399.300
438,001
410.642
375,000
267,021
377,561
183,865
155.777.140
83,797,896
21.668,297
13.499.853
Houston
Galveston
Richmond
623,954
563.205
1,032£05
632,255
571,598
676,905
Tot. oth.West.
2,426,218
2,642,277
1,513 £94
1,440,161
1,359,180
1,173,577
1,115,095
849,184
+2.7
+24.9
+21.5
+ 1.8
+4.0
+29.3
+ 17.2
+ 10.6
+ 11.0
+24.1
+ 13.8
+ 14.2
+ 18.8
+50
1,335.011
1.504,986
St. Louis
New Orleans
Louisville
1,058,511
774,514
762,076
Sioux Falls
Colorado Springs
Pueblo
Fremont
7.812,854
6,034,861
3,847.954
—0.04
—3.3
+ 4.9
+ 12.6
+ 1.7
+ 5.9
+ 7.5
+ 17.8
+ 12.5.
+ 6.3
+ 19.7
872,540
918,400
773.142
733.124
454 £38
Springfield, O...
Saginaw
indicates that the total
States for week ending
to-day have been $3,193,092,296, against $3,554,272,966 last week ana
$3,575,551,566 the corresponding week last year.
4,677.749’
3,387,309
2.707.892
2.420.893
2 £08.220
1,448.118
1,086.960
1,089,980
1,115.400
1,025,074
Canton
Decatur
I.lma
The following table, made up by telegraph, dec.,
bank clearings of all clearing houses of the United
6,397£00]
283,525,595
25,988,700
19 £60,942
16,698,014
12,951,392
8.122,077
5,949,800
3.969.824
3,011,998
2,547,981
2,022.779
1,990,481
1,466,012
10,519,500
7,065,000
16.320.182
9,448,156
8,924,127
8,711.046
4,291,974
3,976,335
3.600.022
2,810.826
2,305,292
2,773,304
1.661,120
2,270,464
1,780£61
1,525:603
2,729.069
1.480.000
625.000
2,463 £36
488,562
689.940
425,000
817,381
13,516,898
—9.7
13,411,016
9,223,296 +30.2
—9.5
4,970,437
—9.9
7,187,148
—6.5
6,122,966
1,653,089 +89.4
1,046,713 —10.1
1,112,211 +40.2
950,000 +40.0
942,848 + 12.6
703,214
+9.9
595,862 + 10.0
416,130 +42.8
347.800 —63.5
600,000 +40.1
101.864,072
58,071,898
32,126,339
16,872,838
12,221,395
10£91,930
6,260,497
8,147,713
4,080,180
2,973,160
3,050,000
1,171,700
1,513,235
1,505,734
1,087,873
825 £27
1,005,000
642,904
630,890
351,911
162,929,784
82,233,216
20,094,491
11,693,296
14,009,515
7,633,000
81.896,950
41.034,601
25,172,572
12,357 £59
9,771,262
9,395,607
4£06£78
8.0
—19.7
—
+5.3
—4.6
+9.7
+ 1.1
—42.6
—2.6
+ 1.3
2,758,688]
2,341,157
1,453,633
1,216,343
1,173,779
1,144,677
836,061
900,559
784,000
549.902
508,543
388,585
+9.5
+ 16.9
+5.5
+ 14.5
+41.2
+0.1
+49.7
+ 1.1
+9.3
—9.9
—4.4
116,393,600
64 £04,470
15.499.704
10,087,330
+ 1.9
+7.8
+ 15.5
+35.5
+37.8
15,501,332
9,265,000
6,400.000
6.085.484
6,330.609
5,905.443
6,911£92
3,011,465
2,592,542
2,583,867
2,058,117
1,919,321
1.918.709
1,527 £30
1,387,769
1,365.822
1,328.001
—4.7
7.413,047
12,075,881 +352
—3.4
9,780,556
+3.1
8,657,998
7,587,361 + 14.8
3,191£01 +34.5
—2.9
4,095,935
—6.2
3,797.419
2,537.508 + 10.8
2,606.098 —11.6
+5.3
2,634,051
1,922,045 —13.6
1,951,525 + 16.3
+7.9
1£50£46
—1.3
1,545,645
2,373,375 + 15.0
+6.2
1,407,445
619,598
+0.9
1,099,985 + 123.9
+2.7
475,812
502.000 +37.4
882,580
671,607
138,661
30.000
809,000
627,325
491,302
496,925
303,096
231,208
+ 18.3
1,290,925
967,292
585,518
600:000
532.422
95.944.478
39,221.948
34,771,028
12,638,356
13 £21.618
10,317,193
4,993,743
3,151,596
2,264,739
1£40£25
1,027,789
1.630.458
1£12£08
682.724
732 £34
700.000
821,766.
782,999
403.986
130.014.812
69,254.056
20,498.585
13.153 £84
16£97 £71
7,703,000
6,500,000
5,832£87
7,010,917
7,716 £21
4,803,444
4£50£19
3.578.738
3.120.738
2,664 £57
1,959£02
2,050.000
1,784,920
1.316.426
1,354.120
1,486.498
1,346.448
859.920
566.626
*
825,561
393,611
486£00
+ 11.1
+21.7
214,642.526
+9.8
3.554 £72.9i£ 3,650.405,987
—2.6
235.654,488
412,756
307 £40
311,886
140,402
25,569
400,000
625,000
170.732,414
185.732.485
2,692,408,820 3 £83 £75.713
1,093,156,68711,280,034,189
Mleerifneoue hewe/t ?
OutrideN Y„ 1.443,073,147 1,366.614.012
+6.6
Nats—Tor Canadian Clearings eee “Commerrial and
1120
THE CHRONICLE
“RAILWAY AND INDUSTRIAL SECTION.”
A
new
number of
[VOL.
LXXXXl.
these annual statements, and the moment
they were
handed in, transcripts were at once obtained and hur¬
“Railway and Industrial ried to New York to be
published in this journal. In
Section,” revised to date, is sent to our subscribers the case of the
prominent roads, in whose affairs there
to-day. In the editorial columns of the same will be was a
large public interest, the general results were
found articles on the following
subjects: “Super¬ often furnished to the
daily press in advance of their
heaters and Economy in Operation,” “Special Freight
appearance in the “Chronicle.”
Transportation Cars,” “American Railway Maps and
After having convinced railroad
managers qf, the
Western Development” and “American and English
necessity of issuing annual reports, we began to $rge
Railway Returns.”
the publication of
monthly and quarterly reports of
gross and net income and the giving out of
weekly
THE FINANCIAL SITUATION.
returns of estimated
gross earnings.
Progress here
Among the many tributes that have been paid to was much slower. We remember well that when it was
our
Mr. William B.
Dana, since his death, by the news¬
paper press throughout the country, for his editorial
conduct of the “Chronicle” during the last forty-five
years, has been an appreciative notice by the “Wall
Street Journal.” The latter used to take great de¬
light in referring to the editorial remarks in this paper
first
proposed in this State that the railroads should be
required to file quarterly reports of earnings and
expenses with the State Railroad Commission at Al¬
bany, the proposition was determinedly opposed by
the managers of the
leading roads at a public hearing
which was given for the
purpose. But publicity tri¬
as evidence of “Court Circular
journalism,” meaning umphed on that occasion, as it always will. As the
thereby that we reflected the views of the inner circles very best way to get these
weekly and monthly returns
in the financial world, were controlled
thereby, and of earnings, the “Chronicle” began to collect them it¬
hence were unable to discuss questions from the broad self. It was no
easy task inducing railroad officials
standpoint of the public welfare. A meed of praise to abandon confirmed habits.
They yielded very
from that quarter, therefore, is rather
unexpected. reluctantly. In some cases they remained obdurate
We do not question the sincerity of the
utterance, and for years; but by making appeals to large stock and
it was hardly to be expected that the writer would ex¬ bond holders and to
the banking fraternity here and in
press entire concurrence with the policy of this paper Europe, and to the self-interest of
railroad managers
under Mr. Dana’s control; but one remark he makes
themselves, we succeeded in the course of years in
it would not be proper, it appears to
us, to allow to go persuading one railway company after another
to
unchallenged. “It is the irony of events,” says this fall into line, until when the Inter-State
Commerce
critic, “that his newspaper probably did more than Commission took up the
task of gathering monthly
any other to stimulate publicity of corporation ac- returns, we had succeeded in
collecting monthly re¬
tounts, itself beyond all question a greater protection turns
covering 200,000 to 205,000 miles out of a
to the public than any Federal or State statute could
total of 225,000 to 235,000 miles of railroad in
the
ever devise.”
country. The moment the Inter-State Commerce's
“Irony,” indeed. Publicity of corporation affairs returns became available, we
began the issue of a
is what this journal has been
preaching, week in and special supplement devoted exclusively to the publica¬
week out, since the day it was started. At the time tion of
these returns. It is
proper to say, too, that
we began publication it was the
practice of railroad every one of our numerous other
supplements which
managers not to furnish any information at all, either we issue
periodically throughout the year are in
to investors or the public,
concerning the affairs of the interest of the publicity of corporate affairs.
the properties under their control. Most railroad
We are told that
publicity of corporation accounts
corporations did not even publish printed annual re¬ affords “greater
protection to the public than any Fed¬
ports, while some of the reports that did appear were eral or State statute could ever
devise.” We hail this
so meagre in facts and details as not to
be worth print¬ admission with
great satisfaction. It is precisely the
ing. The “Chronicle” at once devoted itself to re¬ ground we have
always taken. We have never failed
moving this blemish, and the success attending the to urge that the efforts of the State and
National gov¬
effort can be judged from the fact that it was not
many ernments to regulate railroad affairs should be
chiefly
years before railroad managers everywhere conceded in the direction of
requiring increased publicity. If
the justness of our contention and abandoned the
policy any one will take the pains to refer to the first page of
qf secrecy in dealing with their security holders which our “Railroad
Earnings” Supplement of last Saturday,
they had previously pursued. In those days it re¬ he will find there a statement to the
effect that the
mained for the “Chronicle” alone to conduct the
on behalf of
publicity, because it was
fight supplement referred to is issued “to aid the Inter-State
absolutely the Commerce Commission in the one direction in which
only paper of its kind in the field.
lies its chief usefulness—the
field of publicity ” This
We may say, too, that we did not content ourselves
statement has appeared in
every number of the “Rail¬
with merely urging publicity. We accomplished pub¬
way Earnings” Supplement since we began to publish
licity by getting the reports ourselves and printing it. Under these circumstances, it seems
strange to
them in our columns. Our efforts in that direction have
any one speak of the “irony of events” as being
were
unremitting. A few of the States, like Ohio, responsible for the publicity of corporation
affairs
Massachusetts and New York, required the
filing of which we have always championed with so much zeal.
annual reports by the railroads with the State authori¬ Our
new-found friend has been
keeping very quiet
ties, and in this way it was possible to get figures for the last two or three
years, and perhaps we should re¬
companies that refused or omitted to give out annual gard him as a convert to new views.
At all events, he
reports of their own. The “Chronicle” had special does not differ as much from
us as he thinks he does.
representatives at the State capitals watching for As for the motives that
influenced Mr. Dana in his edi¬
ts
O0T. 20
THE CHRONICLE
181#.]
1131
policy, we refer him to our review of his life, operation in collection of data upon which to base rates
given in the first number of the “Chronicle” which ap¬ is “an absolute necessity of the business,” and a finding
that “there is nothing unlawful in combining to collect
peared after his death, namely the issue of Oct. 15.
tonal
this information.”
The cotton markets of the
country advanced sharply
Tuesday, following the issue of the Census Bureau’s
report covering the details of ginning to Oct. 18; but
part of the advance has since been lost. Without
apparent reason the report was given a bullish con¬
struction, and this, in connection with heavy buying
by the interests that were so prominent in the specu¬
lation for a rise last season, forced the market up appre¬
ciably. Why a report that had to do merely with the
progress made in getting cotton into marketable
shape, and especially so early in the season, should be
a price factor in either direction it is hard to conceive.
It showed that up to Oct. 18 this year there had been
ginned a total of 5,410;960 bales, against 5,530,967
bales in the same period of 1909, or a decline of 120,007
bales. But that falling off has no significance what¬
ever.
Not only is the crop outside of Texas and Okla¬
homa (whefe dry weather forced maturity) quite gen¬
erally later thsm a year ago, but with the weather
favorable, more attention has been paid to picking
cotton than to getting it ready for market. That
being the case, the decrease in amount ginned would
have no bearing whatever upon the probable size of
on
the crop.
The details of the
It is
something to have obtained judicial affirmation
of
“necessity” so positive as to be almost funda¬
mental, and yet States have sought to suppress co¬
operative action entirely upon the baseless theory
that all agreement means extortion.
Encouraging
action following the decision in this case is reported
from Indianapolis in a business movement to get
together with the underwriters and reduce rates in
the wholesome manner by improving risks and lessen¬
ing loss.
f
Another striking matter is now reported from In¬
diana. That State has the option of two methods of
taxing outside insurance companies: she may use her
own rate or (under the operation
of retaliatory laws}
she may use the scale of some other State in which her
own companies are operating
Many years ago she
elected to levy at her own rate, and has done so ever
since; but now the new Governor has made a discovery;
He thinks he finds that the New York and New Jersey
rate of 2% on gross premiums will produce more
money than the Indiana rate of 3% on premiums leas
losses paid. So he proposes to change to the former^
to which no objection can be raised as respects the
future; but he proposes to make this retroactive, if he
can, and to go back to 1873 and collect of the com¬
panies the difference between the product by the two.
a
.
ginning report indicate that in all
Alabama (where
ago) the amount rates. Back taxes or arrears have sometimes been
ginned to Oct- 18 this year was less than in 1909, and claimed, and have sometimes been collected, not
in fact below most earlier years back to and including wholly unjustly, since there might be errors or under¬
1904.
In Georgia alone the decrease from last year statements in the sums reported for taxation; but in
is nearly 200,000 bales, in Arkansas it reaches 169,000 this case, after having collected tax according to its
bales and in South Carolina 111,000 bales. These de¬ own chosen method, without pretense of any conceal¬
clines, and those of smaller extent elsewhere, merely ment or misunderstanding, the State proposes to collect
emphasize the lateness of the cjop; they do not indi¬ what it now thinks it might have taken if it had chosen
cate shortage in yield.
As we have often remarked, the one of two methods which it did not choose.
it is yet too early to form any correct opinion as to the
At least, this is the case as told in news dispatches,
extent of production, for, in the absence of frost, and demand has been made upon a number of com¬
cotton is still making.
In passing it is worth noting panies accordingly, to which one company has re¬
that of the crop of 11,581,829 bales raised in 1907— sponded by bringing an action to prevent cancellation
which, by the way, was classed as late as is that of of its license to do business as penalty for refusal to pay.
When a pecuniary matter has been settled by pay¬
1910—only 4,420,258 bales had been ginned to Oct. 18,
ment of what the creditor demands, the amount having
or 990,702 bales less than in the same period of the
current year.
Moreover, in 1906 out of a total yield been reached openly and without pretense of any
of 13,550,760 bales, only * 4,931,621 bales had been error, a business man always assumes the transaction
put in marketable shape up to Oct. 18, or 479,339 bales to be final; still more, when the creditor fixes the sum
and the debtor has no choice except to pay, as in case
less than in 1910.
of tax. As reported, Indiana wishes now to go back
The case heretofore mentioned in the “Chronicle” and repair what is deemed to have been a mistake
of the State of Indiana against certain fire insurance on her part in not choosing the more fruitful mode of
companies for alleged violation of anti-trust laws has levy. Taking the case as related, it suggests reflection
dallied along for months, but has lately been decided whether corporations nowadays exist upon rights ofr
in the Supreme Court of the county in which is In¬ upon sufferance.
dianapolis. The decision is pronounced unusual in
The Trans-Andean Tunnel, which was formally
that each side triumphs in a measure. The State
Attorney-General has the satisfaction of being able to opened early in the summer, furnishing the means
point to a decision that any form of combination for of communication by railroad between Argentina and
making or enforcing rates is illegal; it was held that Chili, is now about to be duplicated. At least that is
the evidence showed that such a combination had the substance of recent advices from Buenos Ayres^
existed, and an injunction Against it was granted, al¬ which are to the effect that the Argentine Senate an
though it is claimed for the companies that the for¬ Sept. 19 passed a bill authorizing the construction of
bidden thing was voluntarily discontinued severa lanother trans-Andean railway. This second toad will
months before the suit was begun. The companies connect the northern part of Argentina with Chili,
have won from the Court a declaration that co¬ and for the purpose of construction 8,122,006 "pesos
States except Texas, Oklahoma and
there is a small excess over a year
1133
THE CHRONICLE
jVOL.
LXXXXI.
gold ($7,837,730 U. S. currency) has been appropriated. declared had become general throughout the
country.
The original trans-An dean route, linking Buenos As we remarked last
week, since the October 1st
Ayres and Valparaiso by a 35-hour trip, is made up settlements were effected, the Reichsbank has
greatly
of the Great Western
Ry., the Trans-Andean Ry. strengthened its resources. This week’s return shows
Ry.; but on account of differ¬ further rehabilitation, cash on hand having increased
ences in gauge—the Trans-Andean
being very narrow upwards of $12,000,000, and loans, discounts and
—two changes of cars must be made.
The decision to note circulation having been reduced $39,000,000.
build another road, this time in Northern Argentina, The advance in the London Bank rate
created appre¬
would seem to testify to the success of the southerly hensions that the Berlin minimum
might be raised
route.
to 6%.
But President Havenstein has come forward
and the Chilian State
The financial
position abroad has been improved by
the demonstrated willingness of the Bank of France
to lend assistance to the Bank of England by dis¬
counting three months’ bills and by sending gold
direct to Egypt. Only one considerable consignment
of the metal has thus far been sent to London, but
should necessity arise, additional shipments will no
doubt be arranged, as on three or four occasions
during the last decade the French authorities have
extended substantial aid to London through somewhat
similar arrangements to those entered into in this
instance. Paris can easily afford to spare several
million pounds sterling, for funds are so comfortable
there that discounts continue to rule under the Bank
rate of 3 %.
Yesterday it was reported that $5,000,000
with the reassuring statement that the Bank's
position
is again “normal and
satisfactory.” He added that
the tendency of discounts was
downward, and that
no
consideration need be given a higher Bank rate at
present. Whether the 5% rate would hold until the
end of the year
depended, he said, upon foreign ex¬
change—up to last Saturday the excess of gold imports
for 1910 was
$36,250,000, of which the Reichsbank
held $17,500,000.
During the current week the pri¬
vate
charge for accepting bills in Berlin has fallen
materially below the official minimum, thus justifying
the optimistic attitude taken
by Herr Havenstein.
The
Portuguese Republicans
finding, as the
Young Turks
overthrow a grossly
are
French Revolutionists found and the
learning, that it is easier to
gold would shortly reach London from Brazil. Lon¬ corrupt government than it is to evolve from the ruins
don, therefore, may or may not need extensive rein¬ a sound, solvent, enlightened administration of sta¬
forcements from France. The Bank of England’s sup¬ bility. The
Portuguese monarchy has been com¬
ply of bullion decreased this week to the extent of $3,- pletely abolished—King Manuel has apparently aban¬
235,000, bringing the total on hand down to $156,000,- doned all intention of fighting for the recovery of his
000, which is not only below the amount carried a year
ago, and fully $25,000,000 less than was held at this
time in 1908, but is the smallest amount recorded at
this season in recent times with the exception of 1906,
when the Bank rate, it may be recalled, went to 6%.
Next week’s statement will reflect the very
November settlements, which will probably
heavy
entail
heavy shipments of currency to the Provinces, and
it is quite possible that the reserve will again be
lowered. But unless something unforeseen happens,
the present rate of 5% should prove sufficient for the
remainder of the year. Before the fortnightly settle¬
ment
the Stock
Exchange some uneasiness pre¬
was emphasized by a fall in
London,
British consols to 78%, the low point recorded in the
panic of 1847; but since then sentiment has recovered
appreciably, carrying consols back to better than 79.
Only one unimportant failure occurred during the
week. Stiff rates, however, were levied upon Ameri¬
on
vailed in
can
as
securities carried
over
to the new
account, the
are
crown
and has taken up permanent residence in
Eng¬
land, the Loyalist troops have all capitulated, and the
Powers promise to shortly recognize the new
regime;
but, as was perhaps inevitable, troubles have already
broken out in the new Republic. The
troops that
effected the coup. knowing their
strength, have become
arrogant; the populace who wildly cheered the revo¬
lutionists are demanding some share in the benefits
they were assured would follow, and, of course, no
largesse can be distributed; even the members of the
Braga Cabinet, it is reported, are at loggerheads over
fundamental problems confronting the
Administration;
and, finally, the national finances are so demoralized
that the greatest skill will be necessary to achieve their
rehabilitation. The troops will no doubt be appeased,
the populace will quietly
accept the new order of things
and differences among Ministers can be
overcome; but
Portugal’s financial salvation cannot be accomplished
by a stroke of the pen.
Unfortunately, the pledge, or program, drawn up
by the Braga Cabinet on taking office threatens to
be carried out along wrong lines in so far as it relates
to financial affairs. The need is not merely for the
being from 5% to 6%%, while regular Stock
Exchange loans were made at 5%%. Since then the
private discount rate has eased fractionally and as the
new gold due in the open market from South Africa on
eradication of the administrative abuses that corroded
Monday should again be retained by the Bank, no seri¬ the nation’s finances under the old regime, but to in¬
ous stringency is likely to arise over the month-end.
stitute a rigid policy of economy, restraint and
peace.
Happily, demands for new capital in London (as in Portugal’s position parallels that of Turkey when the
New York) have fallen to a minimum, speculation in younger element swept
away the avaricious Sultan.
stocks is by no means rampant, the National Treasury The necessity for
restraining military ambitions was
is well situated, and though trade is extremely pros¬ no greater in one case than the other. But
the Young
perous, mercantile borrowing is not excessive.
Turks, fired with an impatience they have mistaken
for patriotism, are embarking upon schemes for ex¬
A hopeful view can now be taken of the
banking tending their army and navy so costly and ill-advised
situation in Germany. When the Imperial Bank that grave
difficulty has been encountered in raising
raised its rate from 4% to 5%, President Havenstein the
requisite funds. Portugal, despite the original
uttered a warning against the over-expansion that he assurances of reform and
economy, despite also her
range
Oot. 29 1919. j
THE CHRONICLE
1123
crushing indebtedness, may set foot along the same serious loss was caused by the wind-storm. King
dangerous road. The Minister of War and Marine Victor Emmanuel visited the Island of Ischia on
is quoted as declaring that every male citizen will be Wednesday, and did what he could to encourage his
compelled to serve in the forces; that an army of 250,- stricken subjeOtfc, “going about on foot,” the cables
000 men is to be created; that a fleet of “small Dread¬ relate, “among the fallen trees, collapsed houses and
noughts” is to be called into being (“which could act heaps of mud and stones. Although bespattered
in concert with Great Britain”), and that other war¬ with grime and sometimes mud up to the knees, His
like schemes involving heavy expenditures will be Majesty made the rounds of the entire district. He
undertaken* The question
arises: “With whose saw more than four hundred wrecked houses.” Every
money?” Portugal's taxes are already very burden¬ possible assistance is being extended to those who
some and could not well be increased at this stage of
have been ruined, but, as in the case of the earthquake,
the Republic's history; the elimination of the Civil List grave difficulties lie in the way of restoring the
people
will, it is estimated, save $800,000 annually, and the to even tolerably comfortable circumstances. The
Minister of Finance reports
that he has uncovered frequency of disasters in certain volcanic areas in
appalling corruption which he will abolish. But the Italy and the adjacent islands has raised the question
foreign debt is already put at $260,000,000, and until as to whether it would not be advisable to prevent
the fiscal affairs have been placed on a proper footing, the erection of towns and villages within
recognized
applications for monetary assistance would probably danger zones.
not be readily met by Paris or London, the two centres
where previous Portuguese loans have usually been
Turkey is still looking for a market for her proposed
floated. When the real needs of the country become loan of $30,000,000. The latest
reports from France
understood, the militant policy, it is to be hoped, will state definitely that the negotiations there have been
be abandoned and a policy founded on sound eco¬ broken off and will not be renewed.
Attempts to float
nomics inaugurated. If this be done, there is no ap¬ the loan in England recently proved
unsuccessful,
parent reason why the future of Portugal should not while efforts to raise funds in Germany and Austria
be happier than its past under the Braganza dynasty. also came to naught.
Reports were circulated last
week that a powerful banking house in New York had
Premier Briand, after earning widespread commen¬ been approached and had signified its
willingness to
dation for the masterly manner in which he put down launch the loan in this country, but from
trustworthy
the attempted general strike of railroad employees, has sources we learn that no proposal of this kind has been
aroused a storm of censure from the Socialists as well made, and, furthermore, that none would be for a
as criticism from other quarters
by declaring that he moment considered. It now remains to be seen
has proof that “there was a deliberate plot to ruin whither the
Young Turks will turn for the money
France by violence, anarchy and civil war.” The which they are so anxious to
expend on building up
Socialist members of the Chamber of Deputies on armaments.
Germany and Austria would perhaps
like
to
Tuesday indulged in unseemly demonstrations aimed
curry favor with Turkey at this time, and it is
at M. Lepine, Prefect of Paris, and the head of the
possible that, given favorable terms, the loan could
police was forced to withdraw. Then they accused be handled by these countries; but if Turkey's am¬
the Ministry for having thrown the military resources bitions are to be carried
out, other applications for
to the sendee of capital.
The conviction of strike capital would have to be met by-and-by, and neither
leaders has evoked an anarchistic sentence of death Berlin nor Vienna is in a
position to absorb the bonds
of
upon President Fallieres and the members of the
any foreign government in such quantity as Paris
or
London could assimilate. Unless Turkey insti¬
Cabinet, and so seriously is the situation regarded
that the French President and his Ministers are being tutes a policy more in
keeping with the crippled state
of
her
constantly guarded. It is rumored that Rene Viviani,
finances, she may not find it easy to secure the
the Minister of Labor, who is a Socialist, has disagreed pecuniary aid she requires. If the
experiences of
with his confreres on the measures proposed to be recent weeks bring about a modification of
Turkey's
taken by the Government to prevent a repetition of militant program and direct attention to the
develop¬
the disorganization caused by the railroad strike. It ment of reproductive resources, much
good will have
is also said that every effort will be made by the been wrought not merely for
Turkey but for the peace
Socialists to bring about the overthrow of the Briand of Europe. Had the $30,000,000 been
promptly
Ministry, but the weight of public opinion in France forthcoming, it is well within the range of possibility
is believed to be with the Premier, who, curiously that belligerent tactics would have been
pursued
enough, before having been sobered by the responsi¬ forthwith against Greece.
bilities of office, was an ardent advocate of So¬
China, on the other hand, according to an announce¬
cialism.
ment made yesterday, has succeeded in
inducing an
influential syndicate of American bankers to raise a
Another disaster has befallen Italy before the devas¬ loan of $50,000,000 for peaceable
purposes.
The
tation caused by the Messina earthquake has been bonds will, it is understood, be offered here and in
fully overcome. The Island of Ischia, situated in the Europe. They carry 5% interest.
Mediterranean some sixteen miles southwest of Naples,
was at the beginning of the week swept by a storm
Another long-standing dispute involving American
which destroyed houses and crops, causing damage interests has just been settled at The
Hague by the!
estimated at nearly $10,000,000 and rendering thou¬ International Court of Arbitration, which
rqe$ntly:
sands of inhabitants homeless. *"Mt. Vesuvius poured decided the Newfoundland fisheries
controversy, after,
“forth an atalanche of stones and mud, which; also did more than a century of wrangling. 1 In this
instance
much damage, while in the surrounding country the case itself, known as the Orinoco
Claim, i* of no
THE CHRONICLE
,{*Voi». UCXXXI
great importance, but the ruling has established ithe! Bank for the week were as follows: Imports, £864,000
principle that when an international dispute referred (of which £300,000 from France, £64,000 from Egypt
to a third party for arbitration is decided contrary to and
£500,000 bought in the open market, including
the principles? of international law, an appeal may be £25,000 French coin); exports, £1,218,000 (of which
made to The Hague. This ,case arose through the £1,075 000 to
Egypt, £130,0*00 to India and £13,000
repudiation by President Castro of certain exclusive to Various destinations), and shipments of £293,000
privileges granted by the Government of Venezuela net to the interior of Great Britain. Since the state¬
to the Orinoco Steamship Co., a New Jersey corpora \ ment was
compiled, the Bank has bought £140,000 in
tion. The company claimed damages of ?$1,400,0004 •sovereigns but has lost -about
£30,000 to various
After prolonged negotiations the matter was submitted points,
including South America. It is understood
to an umpire, who awarded the company $28,700. that exports of the metal to India will be
quite heavy
The International Court of Arbitration has awarded during the
ensuing week.
the company $46,867, with 3% interest since June 16
Renewed demands for currency from the interior, a
1903, and ,$7,000 costs, the judgment to he paid by
Venezuela within two months. Certain minor con¬ large loss to the
Sub-Treasury, the shipment of 81,tentions submitted by the American litigants were not 500,000 gold coin to Canada, and
preparations for
upheld, but the very fact that the compensation Tuesday’s heavy payments of dividends and coupons,
allowed is much greater than that originally fixed is have combined to
impart firmness to -the local money
interpreted as completely justifying the refusal to market this week. Gall money has loaned at a maxi¬
accept the smaller sum.
I mum of 4% for the first time since the latter part of
May, little time money for 1011 maturity is now avail¬
Foreign discount rates have not yet been affected able under 5% and even choice commercial paper is
by the impending settlements of Nov. 1. The tension! not easily negotiated under 5?4 or 6%. The with¬
at London recorded last week has relaxed slightly, but drawals of funds by Western
and Southern cities have
other considerations than next Monday’s disbursements been heavier than had ’been
anticipated in view of
have influenced the money market there, as explained! the cessation of the outflow earlier in ithe
month,
more fully in a previous paragraph in this issue.
and
this
fact
has
disturbed
the
calculations of New
Quo¬
tations in London are mow 4%% for sixty-day spot York bankers. The supplies of loanable cash have
bills and 4)4% for ninety-day spot bills, but as low) also been reduced by extensive
payments of city taxes.
as 424% is named for bills to arrive.
The charge fori Consequently to-day’s bank statement is not expected
accepting sixty-day bills is at the moment higher than; to be altogether favorable; last Saturday’s return
for, tbn
maturity, nn account of the fact that| showed another reduction in deposits and loans almost
the former ^ill iust 1 carry into the new year. At I sufficient to counterbalance a cash loss of $5,186,200,
Paris the mfo is still 2%% for both spot bills and bills} the decrease in-actual surplus being only $599,525,
to arrive, despite the fact that the Bank of France con-!
leaving a total on hand of $10,570,750. It should be
tinues ,to lose gold. At Berlin, where the average* added, however, that Stock Exchange houses are still
efouge a
agQ was 4M%, bills nan now be nego¬ borrowing very lightly, that speculation by powerful
tiated at 4H%- Amsterdam is slightly above thej interests has received assistance apart from ClearingBank rate of 4%. Brussels quotes 4}£% for spot bills! House banks, and that no very large sum is being in¬
and
for bflis to arrive. Vienna has drawn close vested by local institutions in mercantile
paper.
to the official minimum of 5%.
No changes in bank Throughout the country events are seasonable, with
rates were announced this week.
There was some talk) no undue pressure reported in any quarter. In fact,
of a possible advance at Paris, but in view of the abun-l the American
money market as a whole is following
dant sqpply of funds there no action would
appear to be * a normal course, and if the stock market does not be¬
probable, notwithstanding the inauguration of gold come excitedly active, there is little reason to appre¬
shipments to London and to Egypt.
hend complications during the two closing months of
the year. Sterling exchange has been high enough
The Bank of England secured most of the
£600,000 to raise the question of gold exports, but the foreign
new gold offered in the
open market on Monday, at purchases of our commodities are expected to keep
the minimum price; £300,000 was obtained from Paris rates down,
provided always our security market does
in exchange for well-secured bills, and smaller amounts not alter the whole
position.
were purchased from day to
It was on Tuesday that call loans were made at 4%,
day, yet Thursday’s i
weekly statement showed a loss of no less than £647,-1 Monday’s highest figure having been 3J4%. Firm¬
017 in bullion, owing, as our special London corre- ness
again prevailed on Wednesday, when renewals
spondent explains, to shipments of gold to Egypt were charged no less than 3 54%. On Thursday the
India, &c. Total reserve fell even more—£785,080. maximum and ruling rate was 3J4%, but, as on
But a reduction of £518,048 in loans and £1,382,070 Wednesday, balances were lent before the close at
in private deposits reduced the amount of reserve re¬ as low as ?J^%. Yesterday the
range was 3% to
quired, so that the ratio to liabilities declined only 3J4%, with the final loan made at 3%. The average
from 46.48% last week tp 46.11% this week. Circu¬
ruling rate for the week has been 3%%. Time money
lation expanded £137,051, due, of course, to
impend¬ dragged along very quietly at last week’s quotations
ing requirements. While the percentage of reserve Until Thursday, when lenders refused tp do business
compares favorably with the average held at this sea¬ except on their own terms. The market appeared
son, the amount of bullion; on hand, £31,318,335, is to be unusually: bare of offerings. A good many
smaller than in any recent
year with the single excep¬ brokers are; contesting themselves with borrowing
tion of 1000. Our ^correspondent further advises us from day toiday at fully 1% below the eha^BP for even
that the details of the movement into and out of the the shortest maturities.
Yesterday ihevjleBe was
—.
.
OOT. 2*
THE CHRONICLE
1910.]
The detailed range of quotations is: and sixty days at 4 8275@4 8280. Demand closed
4%@4%% for 60 days, 4%@5% for 90 days and unchanged op Monday* ca^k* transfers and sixty days
4% @5% for four, five and she months. The demand were slightly lower at 4 8710@4 8720 and 4 8265@
is chiefly for January maturities. Commercial paper 4 8275, respectively. On Tuesday demand weakened
is harder to place. The market, as we have pointed to 4 8660@4 8670, cable transfers to 4 8710@4 8715
out in previous issues, has been oversupplied with and sixty days to 4 8260 @4 8270.
On Wednesday
demand declined to 4 8645@4 8655, cable transfers
names of questionable stability^ and brokers of recent
origin have resorted to various undesirable practices to 4 7805 @4 8715 and sixty days advanced to 4 8265®
to effect sales.
This has had an unpleasant influence 4 8275. On Thursday demand, after rising, closed
upon the business of high-class commercial paper lower at 4 8640@4 8645, cable transfers were rela¬
houses. So abundant are the offerings of 6% bills tively firm at 4 8705@4 8710, but sixty days fell to
that it is seldom possible to obtain the 5%% rate that 4 8250 @4 8260. On Friday discounts were easier
formerly ruled for prime names. What is called a in London and exchange rates fell to 4 86% for de¬
“compromise rate” of 5%% is often agreed upon. mand and 4 86% f°r cable transfers.
The range is nominally 5% @6% for choice four to six
The following shows the daily posted rates for
months' single-name bills, 6%@6%% for less desir¬
able qualities and 5% @6% for 60 to 90 days' endorsed sterling exchange by some of the leading drawers.
again firmer.
bills receivable.
Fri.'
Mon.,
21 Oct.
Oct.
Tues.,
24 Oct.
4
0^*”48
25
1
r
*
;
J60 days
83%
83%
83%
83%
%
Foreign exchange movements do not foreshadow any Bros. A Co
ISlght..,
J 60 days m
Kidder,
U >11^ in in
Peabody & Co..
early outflow or inflow of gold, although the possibility
4
84
|7%
W
Bttiko* British
g*
-m*
of either has been discussed during the current month.
87
87
87
North America.
.ISight..
g
E 8*
Bank of
84
legoays JS
ii. »
4 87
87
This week, and more particularly during operations
Montreal
Canadian Bank
of Commerce...
fa m
yesterday> quotations have tended downwards, in UcKnl^aeh,
i 6® days
WU1..1 Sight.. tm
gif m m in in
spite of considerable over-sea liquidation of stocks L&aard
Freres
n*' m ** g# i3
before the new account was opened in London, and Merchants’
83%Bank
of Canada
.JSUR m in tin tin in 87%
in spite, also, of inquiries for remittance to meet
November obligations. Sight drafts have been nota¬
The market closed m Friday at 4 8230 @4 8240 for
bly weaker than cable transfers, as had been antici¬ 60 days, 4 $675@4 8685 fpr dem&ud aud 4 8675®
pated. Since the last steamer to reach Europe by 4 8685 for cabled
fcajiks was qpqfced
Nov. 1 sailed, recourse has naturally been to tele¬ at
4
M wf
fqy
4
graphic facilities to satisfy debts maturing at the end 4 82%. Cotton for payment ranged from 4 81%®
of October or the beginning of next month, with the 4
82, grain for payment from 4 82% @4 82%.
consequence that the decline in demand sterling has
been more severe than the weakness in cable transfers;
The following giyes the week's movement qf lpouey
the former fell from 4 8680 to 4 86% and the latter to and from the interior
by the New York banks.
from 4 8720 to 4 8670. As commonly happens at
Received by
Ht* interior
this season, the Canadian banks have again begun to
Week ending October 28 1910.
N. Y. Banks.
Movement.
withdraw gold coin from New York to strengthen their Currency
86,670,000
Gow
»
;w
month-end balance sheets; $500,000 was engaged on
Tot*l gold Md
9$MJW
Thursday and $1,000,000 yesterday, making a total
Brown
83
83
_
,
::fe
In
ii
in
>
'rf,*4 -
j-VT f* -
fcJ
- '«***' -
■
*f> - -“ - r * 4 - f f- -
—
to
dat& of $1,500,000.
The Dominion banks have
follows.
very large Sums on loan here at present, and certain
London bankers predict that shipments of gold will be
made thither from New York
on
Canadian account;
it!
Week
rSH —'fail., j'tt'tj'f*11
—r-r-*f—
ending October 28 mo.
Banks’ interior movement
as
above.
88,0801000 m ; tsea.Mo
88440,000
•
28,400,000
35,394,000
only be said at this juncture that no such movement Sub-Treasury operations
! f
U,f-X
1 •• is..
Total gold and legal tenders
is now in sight.
836.749.000 543,474,«ip0 Lorn 86,725.000
Offerings of commercial remittance have not been;
The following table indicates the amount of bullion
heavy. Cotton bills are no longer pressed on the mar¬ in the
principal European banks.
ket, and exports of grain have been comparatively
Oct. 27 1910.
Oct. 28 1909.
light. There is little inducement to draw finance Bants of
can
...
■....
■
.-
,
•
■/.
-
—
on
London
now
that discounts there
are
time-money rates here and much above our call loan
quotations. During the last few days London inter¬
ests have indicated willingness to
buy long sterling
bills for investment,
’
as
current rates
are
considered
highly attractive. Paris is deterred from following a
similar course by the extremely high figure now
ruling
for sterling exchange, namely 25 francs 29 centimes.
The buyer of bills at this rate might find that exchange
had gone against him very radically by the time bis
holdings matured. The unexpected announcement
was made
yesterday that 50,000,000 francs Michigan
Central'one-year notes have just been placed in Paris.
Compared with Friday of last week, sterling ex¬
change dh Saturday was higher] with demand quoted
at 4*8665 ($4 8675, cable transfers at 4 8715 @4 8725
Total.
Silver.
Gold.
level with
£
..
Silver.
Gold.
3
31,318.335 32
132,821,4001 33,437,280 10tUS8i68O144
Germany. 38,489,560; 13.081,
Russia .a 146,687,000 6,302,1
Aus.-Hunb 55,447.000 12,040,1
‘
6.9^.060146477,000
ASS#
67,487.000, o7,374
ffe:
ww
nmm
Neth'Unds 10.226.000
1.626,3001
NatBelg.d
5,329,333
Sweden
M46,QQ0|
..
Switx’land
Norway
Total.
£
England.. 31,318,33
France
,
11,981,000 69455.000
ai,0784Q0>t 47,147,000
2,664,667
2%\
dlHo.ttoW!
5.03
b*&m
imw>
Total week 485.860,618103.117.7471588,978485491465.561
Prev. week 484478,079103,665,853
588.343,^482,575.466 ttMjRStttt
a The total of
gold In the Bank of Russia includes the balance held abroad—that
Is, the amount beld for Russian account Ip other CooMneatal banka* The propor¬
tion so held and consequently duplicated m the abovestdfement 1b about onaraMi
h.bw
Kronen has really no greater value than 20 cents, our cable correspondent In Lon¬
don, in order to reduce Kronen to Founds, ha» altered the basis at conversion by
:>nen by 24 Instead of 20. A
■”*
dividing tbe amount of
d The division (befcwi
gq|d and silver) stash In i
umls
the Banks of Italy and
estimates we are able to obtain;
‘
■
bills
—
,
It to not claimed to
make Is
a Close
ftnnroTtmatloy
1126
THE CHRONICLE
[VOL-LXXXX1
certain world-wide
THE LOW PRICE OF CONSOLS.
Much attention has been paid in financial circles to
the fall in British consols, on Wednesday of this
week^
to the very
low price of 78^. Consols have sold as
high as 83 even this year, and within the fortnight
past they have been quoted at 80. Both of those
prices represented a striking decline, not only from
the high level of 1897 and 1898, but even from
the price which prevailed in the last stages of the
costly Transvaal War. This week's low price is said
to be the lowest reached in sixty-three years, and the
fact of so prolonged and severe a depreciation in this
important security, during a series of years when trade
and industry have been active and profitable, and
when Great Britain has been at peace with all the
world, has provoked more than the usual comment
and inquiry.
As always happens in episodes of the sort, there
have been numerous explanations. This week's de¬
cline is partly associated, for one thing, with the high
Bank of England rate, imposed to regulate the outflow
of gold from London to Egypt and the East.
It has
long been a matter of course on the London market
that a rise in money involves a decline in consols,
through the automatic flow of capital from the market
of Government securities into the money market.
Financial institutions themselves are apt to realize on
their consols holdings at such times and re-invest their
funds at the profitable open market loaning rates.
But for so long-continued a decline other explana¬
tions are necessary. A recent thoughtful and
thorough
review of the consols market, by a well-known London
financial critic, took the ground positively that even
the much lower price to which consols had fallen was
not attracting the old-time investor; that, as a matter
of fact, estates which are liquidated or wound
up
are nowadays extremely
apt to begin by realizing on
their consols holdings; and for this the main cause
assigned was the British Government's policy on the
income tax, which, by the expedient of a “super-tax,”
has in the last Budget imposed on large incomes an
annual tax not only greater than ordinary incomes
have to bear, but heavier, so far as regards the actual
rate, than has ever before been imposed in England
in a time of peace. Now, when it is remembered that
,
the British Government deducts the income tax from
its remittances of interest on consols before payment
is made to the
investor, it may be seen how direct a
bearing this part of the situation has on the present
unsatisfactory market for British Government securi¬
ties, The actual rate of interest paid on consols is
itself unusually low; it was reduced, as every one re¬
members, from 3 to 2%% in 1888 and to 2J^% in 1903.
Economists and financiers have long been inclined to
characterize Lord Goschen's conversion policy as a
mistake, based on erroneous ideas of continuance of
peculiar conditions which existed in the investment
markets of 1888. Whether this be so or not, it must
ait any rate
face so lojv an interest
%"adD^^d^at a security bearing on its
rate as
wiU be hit more
severely, than others by a'^governmental policy which
influences; but in the case of Great
public finances there are some circum¬
stances peculiar to itself.
It is true that in 1909 the
public debt of Great Britain had been reduced nearly
£40,000,000 from the figure at which it stood at the
end of the Boer War.
But while this has been going
on—and the reduction has been far more gradual dur¬
ing the two or three recent years—there were several
events and tendencies pointing distinctly in the oppo¬
Britain’s
site direction.
The Irish Land Purchase Act of 1903
has resulted in the creation of nearly £50,000,000 new
government securities of the class prescribed in that
measure.
The Old Age Pensions scheme has already
involved a heavy outlay, and is yet only in its pre¬
liminary stages, if the Liberal program is to be
sistently carried out. These social schemes have
con¬
gone
hand in hand with
enormous increase in expenditure
the British army and navy. The British revenue
for the fiscal year 1908 ended with a
surplus of £4,on
700,000; the next year produced a deficit of £700,000.
Results for the fiscal year ending last March, and
for the present fiscal year to date, are not
easy to
compare with other years, because of the holding-up of
taxes under the prolonged dispute over the
Budget.
But this much is certain, that only through a reduc¬
tion of £3,000,000 in the annual sinking fund
and the
creation of £14,200,000 in taxes was a serious deficit
avoided, even in the preliminary Budget for the
pending fiscal year. It is not improbable that the
actual result will be a substantial deficit; for the
Exchequer's estimates of recent years have turned
out highly misleading.
Even taking the situation as it stands, it will be
seen that a
sufficiently perplexing problem lies before
the Government.
But the matter is at least poten¬
tially worse than these figures show, because the burden
of these political and social experiments is progressive.
It is, in fact, the impossibility of assigning limits to the
expenditure which would be involved in the logical
completion of Mr. Lloyd-George's program which
has played the most immediate part in financial
London's attitude towards consols.
There
are
two
of dealing with a situation involving such pro¬
digiously rapid increase in public expenditure—new
Government borrowings, or new and higher taxes.
But new borrowings will necessarily increase the supply
ways
of British Government bonds
mand
for
those bonds
on
a
market where de¬
is
confessedly unfavorable,
higher taxation, not only in the case of an income
tax, depreciates the actual intrinsic value of British
consols, but, through its burden on finance and in¬
dustry, increases the dead weight on the very thrift
while
and accumulation which is the
governments when they tax
or
one
reliance of all
borrow.
This, it may be observed, is only the familiar ex¬
perience in socialistic or semi-socialistic experiments.
There is no difficulty in figuring up on
paper the
enormous wealth of a
given community, and in draw
ing conclusions that this wealth can easily spare a
larger and larger portion of its earnings for the experi¬
ments of Government, But the very episodes in
.
that
the -increased,.debt has injured
oiTr.ni mail %'Amm voi
AmmdD
national credij
lit and forced it to pay progressively
mA
higher
v/eviTs7£Cf(Xio9
prices for its
y nnou pt'.#Lntb
borrowings.
mrwf m&i
OOT, 2V
THE CHRONICLE
1^10.]
1137
The Rand labor situation was also a factor in tire
that any such situation is an
immediate probability in England. The English first quarter of the current year. But since that tin&
people have not lost thus suddenly all of their native not only has there been an increase in the efficiency of
shrewdness in matters of industry and finance. A the hands at work, but also a notable addition to their
thrifty people, such as the English population pre¬ numbers, which finds reflection in a quite steady
eminently is, will always be the people quickest to augmentation in the production of the Rand mines.
resent an unwarranted burden laid on thrift, and this In fact the Rand output of gold for September, at
is the strongest safeguard for the future.
At the 621,311 fine ounces, gave the heaviest per diem yield
on record, exceeding that of December 1908
same time, it is difficult to escape at least this con¬
by 134
fine
ounces per day.
clusion—that the downward movement of consols,
For the nine months of 1910,
to a price so startlingly low as that of the present for the reasons already stated, the Rand production
week, is in very large measure the market’s judgment exhibits merely a nominal gain over the like period of
as to the meaning of the policies now being pursued.
1909, comparison being between 5,366,570 fine ounces
and 5,298,027 fine ounces; but it is likely that this
GOLD PRODUCTION IN NINE MONTHS OF 1910. difference will be widened by the result for the last
Developments since we reviewed the progress of quarter of the year. Districts of the Transvaal,
gold mining for the half-year ended June 30 1910 outside of the Rand have done better this year than
have not been of a character to change the opinion last, their production aggregating for the nine months
then expressed that the figures for the full year 1910 230,817 fine ounces, against 177,347 fine ounces,
when compiled would show but a very moderate increasing the gain in the whole of the Transvaal to
increase over the result for the previous year.
On 122,013 fine ounces. In the remainder of Africa
the contrary the information at hand since that time (Rhodesia, West Africa, Mozambique, &c.) on the
has tended to confirm that opinion.
It is a fact, other hand, results have not been up to those of a year
of course, that actual returns from the Transvaal ago. Still we have as representing the yield of the
have recently, month by month, shown an increase in whole of Africa a total of about 6,290,987 fine ounces
yield as compared with 1909, but the gains have been for the nine months of the current year, which con¬
of much more moderate proportions than in earlier trasts with 6,202,947 fine ounces for the like period
years, and are offset largely by losses in the first quarter of last year, 5,926,402 fine ounces in 1908 and 5,of the year. The mines of Canada, Russia and Mexico 442,026 fine ounces in 1907.
The decline in output in Australia, heretofore noted,
are, in all probability, also doing somewhat better
than a year ago, but production in the United States has continued in 1910. The falling off has been rela¬
can hardly be expected to show any increase in view
tively small in all districts except Westralia, yet for
of the fact that late advices from Alaska indicate a the wrhole country the yield for the nine months of
marked decline in yield in the Fairbanks and Nome 1910, as we compile it, was only about 2,339,345 fine
districts. Furthermore, most of the Australasian ounces, against 2,476,825 fine ounces in 1909, 2,537,758 fine ounces in 1908 and 2,616,876 fine ounces ki
workings continue to exhibit declining results.
If anything were needed to accentuate the supreme 1907. As late as 1904 Australia was the premier pro¬
importance of Africa (the Rand in particular) in ducing country of the world. Since then its output
adding to the world’s annual new supplies of gold, it has been largely exceeded by both Africa and the
would be furnished by the developments of recent United States. The Colar field of India reports a
months. Notwithstanding the recent comparative little greater yield for the nine months ended Sept. 30
check to production, there has been no year since 1910 than for the same period of 1909, the comparison
gold was first discovered in paying quantities in that being between 407,928 ounces and 399,742 ounces.
country (excluding, of course, the Boer War and Bringing together the totals for Africa, Australia and
reconstruction periods) that has not shown an in¬ India, the only countries furnishing actual results for
crease in yield over its predecessor.
That will still periods less than a year, we have an aggregate of
be true of 1910, but the gain will be, as in 1909, very 9,038,260 fine ounces for the nine months of 1910,
small. Furthermore, in each year from 1902 to 1905 against 9,079,514 ounces in the period of the previous
inclusive, the annual increment was largely from year, 8,856,406 ounces in 1908 and 8,452,094 ounces in
Africa,while in 1906 and 1907, had it not been for the 1907.
It will thus be seen that in countries the 1909 pro¬
greater amount of gold mined in that country, the
aggregate world’s product would have shown declines. duct of which was nearly 55% of the world’s total
It should be noted, too that whereas between 1901 and yield, there is this year for the nine months a decrease
1907 Africa’s contribution to the supply advanced of 41,254 ounces.
It seems safe to assume, however,
from 474,696 fine ounces to 7,421,074 fine ounces, the that this falling off will be more than offset by im¬
remainder of the world advanced its figures only from proved results in the Rand for the last quarter of the
12,420,160 fine ounces to 12,529,549 fine ounces. year.
The year 1908 witnessed much progress in almost all
With regard to other gold-producing copntries,
producing countries, but of the gain that year over 1907 the information we have would appear to warrant the
Africa furnished almost one-half. In 1909 there was conclusion that Canada, Mexico, Russia and probably
a noticeable check to new
development and an actual one or two of the smaller fields will make greater con¬
decline in production occurred in the last* quarter of tributions to the world’s aggregate in 1910 than they
the year, due in part to the running into poorer ores did in 1909. The United States, on the contrary, is
in the lower level^ as well as to lack of efficiency of the likely to show little if any increase, owing to ^the loss
native laborers, who, took the place of,the repatriated in' production in Alaska, which, it has been
recently
Chinese. The further gam
gam m
m the
the African
African yield m estimated, will fee over $5,000,000, or approximately
moderate.
tkai y^a3^wai cdhSequently comparatively me
250,000 fine ounces. On,
the basis of the Tacts and
w
We do not
mean
to say
,
.
•nasi w-sa
1138
information before
THE CHRONICLE
[VOL.
LXXXXI.
the indications for the full cal¬ recently been increased and the operating oost also
endar year would be for a yield of about 22
million is larger, owing to an advance in wages.
fine ounces from the world’s mines, the equivalent of
Most of the surface lines in Philadelphia are con¬
465 million dollars, this result comparing with 22}^ trolled by the Union Traction Co., either
by ownership
million fine ounces valued at 458 million dollars in the or by lease, and in turn they were leased in 1902 to the
previous year, 21}4 million fine ounces and 4441^ mil¬ Rapid Transit Co., which guarantees a rental of $1,lion dollars in 1908 and about 20 million fine ounces and 800,000 annually. This rental is sufficient to
pay a
412
millions of dollars in 1907.
dividend of 6% upon the $30,000,000 of capital stock
of the Union Traction Co. While the
par value of
Union Traction stock is $50, the amount paid in is but
FINANCING PHILADELPHIA STREET
$17 50 per share, amounting in all to $10,500,000.
RAILWAYS.
There is unpaid $32 50 per share, or $19,500,000 alto¬
Early this month petitions were presented to Ed¬ gether. When Mr. Stotesbury asks that the Union
ward T. Stotesbury of Philadelphia, signed by owners Traction Co. shall guarantee the future
obligations of
of a majority of the stock of the Philadelphia Rapid the Rapid Transit Co., he relies
upon the amount of
Transit Co. and the Union Traction Co., whose prop¬ unpaid capital of Union Traction as a basis of credit.
erty is leased to the Rapid Transit, asking him to be¬ It is sought to have the Union Traction shareholders
come a director of the Rapid Transit
Company, and assent to assess themselves at some future time, if
assuring him that places will be made in the board for necessary, to pay Rapid Transit bonds bearing the
any associate directors that he may name. The re¬ guaranty of the Union, provided they are not paid at
quest, in substance, is that Mr. Stotesbury become maturity by the Rapid Transit Co. The guaranty
the managing director of the company. He is the would also apply to interest. In this
way it is pro¬
head of the Philadelphia banking house of Drexel & posed to issue guaranteed debenture bonds as the needs
Go. and is a member of the firm of J. P. Morgan & Co. of Rapid Transit may require, and out of the
pro¬
of this city, the banking house which reorganized the ceeds rehabilitate the
company and put its property
in prime condition, whereby it is expected
Chicago City Railways.
earnings
This week Mr. Stotesbury made reply to the unusual will be so augmented that the
company will be solvent
request, stating that he would accept the position pro¬ and perhaps be able to pay some return upon its $30,vided that the Union Traction stockholders would 000,000 of capital stock.
It is generally understood that the plan first con¬
agree to guarantee future obligations of the Rapid
Transit Company for capital requirements and pro¬ templated
authority to curtail or suspend dividends
vided that a sufficient amount be appropriated from on Union Traction stock, but
this feature met with
the earnings of the Rapid Transit Co.
such
unanimous
properly to
opposition on the part of Union
maintain the physical integrity of the property.
shareholders that it probably will not be insisted upon.
Before arriving at this conclusion, Mr. Stotesbury A committee of Union
directors, Robert A. Balfour
called to his aid Thomas E. Mitten, President of the and
George W. Elkins, representing estates having
the
Chicago City Railways. Mr. Mitten made a thorough
largest blocks of Union shares, is now considering
the
inspection of the street railway property of Philadel¬
conditions imposed by Mr. Stotesbury. If they
phia—its tracks, power houses, machinery and equip¬ approve the terms named, a call will be issued for a
ment, covering the surface lines, the subway and the special meeting of Union Traction shareholders that
elevated road. Relying largely upon Mr. Mitten’s
they may vote upon the proposition. Sixty days’
judgment, Mr. Stotesbury has expressed the opinion notice of such a meeting must be given.
that a considerable sum of money will be required in
If the Rapid Transit Co. should default
upon any
the near future for necessary renewals, and that,
also, of its obligations to the Union Traction Co., the latter
a substantial amount should be
provided properly to could take back the leased lines and either operate
enlarge and thus increase the efficiency and earning them or lease them to a new' tenant. In this case
power of the system. Barring unforeseen contingen¬ there would be a probability that Union shareholders
cies, Mr. Stotesbury is of the opinion that there is no would have to forego dividends for a time and there
reason to question the
ability of the property ulti¬ would be the further probability that they would
mately to show substantial earnings on the present have to assess their shares in order to provide ad¬
capitalization, provided a financial plan can be con¬ ditional capital. For these reasons it is urged that it
summated which will make possible the full
develop¬ will be better for them to assent to the guaranty of
ment of the company's earning capacitv.
Rapid Transit’s new obligations. It is also main¬
The situation in Philadelphia is not unlike that tained that the contract between the
city of Phila¬
which has confronted the managers of street railway delphia
and the Rapid Transit Co. is of great advantage
properties in other large cities. The Rapid Transit to the street railway system. This contract would be
Company was organized in 1902 and it now has a full- abrogated if the railway lines were surrendered to
paid capital stock of $30,000,000. The par value of Union Traction. There is still another reason for
this stock is $50 per share and this week the market holding the
present system intact. At the November
value was as low as $15 50 per share. The present election an amendment to the constitution of Penn¬
management has exhausted the company’s credit and sylvania will probably be adopted. This amendment
it despairs of making the
property earn a dividend on will authorize the city of Philadelphia to- borrow
the stock; hence the appeal to Mr. Stotesbury for aid. money for the purpose of
constructing subways
During each of the last four years the operating re¬ outside the debt limit. Its passage will undoubtedly
sults have shown a deficit, and President ’
Kruger is be followed by the enacting of the necessary enabling
quoted as saying that the company will not be able to legislation at the next session of the State Legislature
earn its fixed
charges this year, as the charges have and next year Philadelphia will be in a iposition to
us,
Oor. as
THE CHRONICLE
mo.]
borrow funds to construct subways.
The Mayor has
It is this last fact
which
serves to
illustrate how try¬
complete subway system already planned. When ing operating conditions are becoming in the United
constructed the city may lease the new subways at j States. With $11,477,630 gain in gross, the augmenta¬
tion in expenses and taxes reached $9,687,60$, leaving,
a rental which will pay the interest on the subway
loans. The Rapid Transit management has in view therefore, only $1,790,021 improvement in the net.
the leasing and operating of the new subways as Fixed charges were somewhat less, but the decrease
rapidly as they are constructed, and under the terms here is somewhat misleading, because it was occasioned
of the agreement with the city such subways cannot by the exchange of a large amount of convertible
be leased to any other company if the Rapid Transit bonds into common stock; while this lessened the call
for interest, it at the same time increased the require¬
Co. elects to take them.
It happened, too, that payments
Thus a great deal is to be gained for the investors ment for dividends.
by holding the street railway system of Philadelphia for hire of equipment were half a million dollars heav¬
together. Mr. Stotesbury is most highly regarded in ier than in the previous year. Altogether, the result
his own city, and under his direction public confidence was that the balance of income remaining above the
in the management would be restored. Prospects 6% dividends charged against the transportation oper¬
of the invstors will* apparently be much improved if ations increased only $916,132, notwithstanding the
Mr. Stotesbury’s suggestions are adopted, and it. company realized $11,477,630 more gross from its
itransportation business.
appears probable that they will be.
It deserves to be noted, too, that except for a
a
THE UNION PACIFIC’S RECORD OF
PROSPERITY.
j change in the accounting rules made under a requirejment of the Inter-State Commerce
Commission,
even
present annual report for the year ending [this $916,132 increase in surplus would not have re¬
June 30 1910 the Union Pacific Railroad Co. continues mained. The report tells us that prior to July 1 1909
the marvelous record of prosperity disclosed in the re¬ lit wras the practice to charge to the operating expenses
ports of previous years. This is the more noteworthy “the protection of banks and drainage, the increased
as the statistics bearing on the operations of the twelve weight of rails, the greater weight and the improved
months make it evident that the road was subject to type of frogs, switches, fastenings, and of other track
the same adverse influences—more particularly the material used in making renewals.” The classifica¬
rise iri operating cost—as other large railroad systems. tion of expenditures promulgated by the Inter-State
The reason why its income exhibit in the final result is ! Commerce Commission effective on July 1 1909, re¬
so extremely gratifying is that it enjoyed an excep¬ quires that these items be charged to Additions and
tionally large growth in gross revenues which the | Betterments. The expenditures for such items dur¬
great augmentation in expenses did not succeed en¬ ing the year were $475,436* and as under the new rule
tirely in wiping out, leaving, therefore, a substantial ithey were charged to Additions and Betterments, the
further addition to the net, already of imposing pro¬ loperating expenses were correspondingly lessened,
portions. Furthermore, the Union Pacific has an ad¬ sit appears, also, that it was formerly the practice to
vantage in that it has two distinct sources of income— charge to operating expenses all Additions and Better¬
ments which did not- exceed in the cost of any one im¬
one from operations and the other from investments
and outside operations—and the latter has kept ex¬ provement the sum of $300, but that the Commerce
panding coincidently with the former, thereby fortify¬ Commission has now reduced the limit to $200, thus
also lessening the usual charges to operating expenses.
ing dividends in a double way.
Dealing first with the income from transportation Altogether, it would seem that had the basis of the
operations, only a glance is needed to show that the accounts been exactiy the same in the two years,
Union Pacific suffered from the rise in operating ex¬ there would have been practically no addition to the
penses the same as other important railroad systems. surplus above the dividends as a result of the $11,477,Fortunately, its income strength is such that even the 630 increase in gross revenues. The matter is, of
rising tide of expenses has thus far failed to make any course, of relatively little importance where the sur¬
inroads on the large margin of surplus above the divi¬ plus, as in the Union Pacific case, is of such large
dend requirements. The Union Pacific pays alto¬ amount and reaches over $8,000,000, but it shows
gether 10% dividends on its common stock. Of this, clearly the drift of things in the railroad world.
Analyzing the large augmentation iri expenses, the
6% is charged against railroad1 operations and'4%
against the income from investments and other sources. growing magnitude of the taxes first attract attention.
The report shows that for 1909-10 there was a surplus This item of yearly outlays is, of course, entirely
above the 6% dividends charged against the transpor¬ beyond the control of the management. No advance in
tation operations in the sum of $8,989,319. This ap¬ operating efficiency, no resort to saving of any kind, will
For the late year the
pears all the more satisfactory when we note that it is avail to avoid an increase in taxes.
$916,132 larger than the corresponding surplus above Union Pacific’s taxes aggregated $3,264,347, as against
dividends in the year preceding, which surplus was $2,570,561 in the previous year. To the extent of
also very large, being then $8,073,187. Going a step $343,797 the increase is due to the enactment by Con¬
further^ however, we find that the addition to gross gress of the Federal Corporation Tax Law. The rest
revenues as2 compared with the year preceding was of it has followed from an increase in rates and assess¬
altogether nearly 11million dollars ($11,477,630), ments. ; Since the year I960 payments for taxes, it
the ratio of the increase Having been over 14*4%> In appears, have risen from $1,231,622, or $226 per mile
other words, then, a; gain of* 11million dollars in of rbad, to $3,264,347, or $512 per mile of road—an
,iry[
q
t, f,v
gross revenues jrieldW ah increase in the surplus above i augmentation of over
The additions to operating expenses werb heavy .un¬
the dividend requirements* in amount of loss than a
der each of the leading heads. The transaction
millioir dollars.
Ui-A '• i'uii.-rifL- •*
In the
;
-
1130
THE CHRONICLE
[VOL.
LXXXXI.
larger by $4,290,897, or nearly 24%, The amount received from the trustee
during 1909-10
notwithstanding that operating efficiency was main¬ and thus applied was $2,050,000.
tained at a high level, the
The company's capital stock was increased
average train-load having
$17,275,been only a mere trifle below the
exceptional figure of 400 during the year, owing to the exchange of that
the previous year, which was 548 tons. In the ex¬
amount of common stock for
$30,231,950 20-year
penditures for maintenance of way and structures the 4% convertible bonds at the rate of
$175 per share of
increase was $2,233,335, or 29%; for
$100
maintenance of
par value.
By reason of the same conversion
equipment, $1,626,920, or 22%, and in both classes of operation, the funded debt shows a reduction for the
maintenance combined, $3,860,255, or 25J^%. In the twelve months in
amount of $25,336,650, notwith¬
traffic expenses the increase was
$421,987, or 27%. standing the sale of $4,902,000 of Union Pacific First
The explanation is the same in all these instances. The Lien
and Refunding 4s.
augmentation resulted principally from the higher
If anyone
imagines that the Union Pacific has aban¬
wage schedules, from a greater amount of renewals doned the
policy of the progressive development
than were made in 1908-09, and from an increase in of its
properties so vigorously pursued during the
the mileage of locomotives and cars in revenue
service, management of Mr. Harriman because of the latter's
caused partly by the movement of additional
traffic, death, we would refer him to the fact that the outlays
by additional trains run and by higher speed of the for additions and
betterments, which were charged to
trains. That all these various causes affect the trans¬
capital account, amounted during the twelve months
portation expenses is generally recognized, but that to
$11,410,045, and that the
for the con¬
they are equally potent in swelling the maintenance struction of new lines and for expenditures
terminal properties, roll¬
outlays is often overlooked. The management had ing stock and ocean
steamships were $13,455,427.
expenses were
to maintain 323 miles of
additional main tracks and
sidings, besides which a much greater num¬
ber of ties were renewed.
The lines of the system did
not realize quite as
good average
In
connection
with
the
company's investment
operations, it is well to note that with the sale during
the year of the 38.864 shares of “Great
Northern Iron
rates, though in the Ore Properties" which was still held at the close of the
freight tonnage the approach was veiy close, the aver¬ previous year the
company has disposed of all the
age for 1909-10 having been 1.024 cents per ton
mile, securities which it received in the distribution of the
as against 1.025 cts.
per ton mile.
assets of the Northern Securities
78 miles of
In the
case
Co. and the stocks
of the income from investments and other
subsequently acquired by subscription rights—with
substantial increase, due chiefly the exception only of 7,249 shares
(par value $100
aggregate of such investments. each) of Northern Securities Co. “stubs." These in¬
The total income from other than
transportation opera¬ vestment operations began, it will be
remembered,
tions reached for 1909-10
$19,512,451, against $17,- with the purchase of Northern Pacific shares in 1901
736,393 for 1908-09; but here, also, part of the gain at the time of the contest for
control of the latter
was consumed when it came to
making the dividend property between Mr. Harriman and the
Morganpayments through the fact that the amount of stock Hill interests. The
original cost of the Northern
outstanding had been increased because of bond con¬ Securities investment was
$79,459,691. The subscrip¬
versions.
Accordingly, after paying the 4% divi¬ tion rights subsequently availed of to new stock
issues
dends charged against the income from
that, source, of the Great Northern and the Northern Pacific com¬
there was a surplus of
$10,830,505, against $9,865,- panies increased the total to $89,391,401. The
aggre¬
062.
gate sum realized from the sales made is given as
Combining the surplus from investments with the $147,377,341,
showing a profit of $58,000,000. The
surplus from operations, it is found that the income investment is now
(June 30 1910) represented by
results for 1909-10 yielded an excess of net
earnings holdings in other railroads—the Illinois Central, the
above the 10% dividends paid in the
striking amount Baltimore & Ohio, the New York Central, the
Chicago
of $19,819,824, this
comparing with $17,938,250 in & North Western, the Chicago & Alton and the Mil¬
1908-09. That is certainly a remarkable
record, par¬ waukee & St. Paul—having an aggregate cost value
ticularly in a period when the company was confronted of $129,894,992.
by increasingly trying conditions under circumstances
After the close of the previous fiscal
year, and while
already mentioned. As there was on June 30 1910 Mr. Harriman was still
alive, rumor had it that the
$216,577,700 of common stock outstanding, this sur¬ Union Pacific had
acquired additional shares of Newr
plus of $19,819,824 is equal to over 9% additional on York Central stock and extra amounts
of stock in
the pame. These figures, it is
proper to state, take other roads.
It now appears that the
company
no account of the
company's income from its Land De¬ has increased its holdings of New York Central
stock
partment. As has been many times pointed out by us from
$14,285,700 to $17,857,100 and its holdings of
in these columns, under the provisions of the Union
Chicago & North Western common from
sources, there was very
to the increase in the
$3,215,000 to
Pacific First Railroad and Land Grant
Mortgage the $4,018,750, but these increases are due solely to the
net proceeds from sale of lands after
payment of ex¬ fact that the company in both instances availed itself
penses and taxes appertaining thereto, and all sums of of its
subscription rights to new stock issues. On the
money received on account of interest or principal of other hand, it has
disposed of the $10,000,000 of the
the bonds, and for. dividends
upon the stock of the Atchison Topeka & Santa Fe
preferred stock.
Union Pacific Land Co,. are set apart and held by the
On previous occasions we have referred
t fs'3 Cl
A»Uu OJUlc i. : ...ill ill
to ^the large
^
credit
.
1
balance.t^pjTQlif ^ loss account
iprtij
ip the
company’s fiepprt. ^pyringthe ypaj,updfir review, this
balance
4
i
vr
mJFfe ipereaapd,,lrpip: *83,($7,78? to
r*
a
mi
*
i
•.
•
.«
•
•
•'
Oct. 28
dividends
1910.j
THE CHRONICLE
profit of $1,338,714 made on sales
of securities other than investment stocks, and a credit
of $12,956,550 arising from the fact that in the ex¬
change of convertible bonds for common stock only
$17,275,400 of stock was issued in exchange for
$30,231,950 of bonds retired. This last is an unusual
item, and with that exception the $115,796,646 to the
credit of profit and loss would seem to represent
chiefly surplus income or profit from sales. Large
as is this total, it does not indicate the whole of the
surplus earnings or profits which have been applied
to the improvement of the physical and financial con¬
dition of the property. A footnote to the balance
sheet tells us that the sum of $17,648,252 received to
date (June 30 1910) from the Improvement and
Equipment Fund and $16,959,816 appropriated from
Income Account, a total of $34,608,068, has been
applied in reduction of the Cost of Railways, Equip¬
ment and Appurtenances on the company’s books.
It should be noted, too, that the profit of $58,000,000
realized from the Northern Securities operations is not
shown in the balance sheet, since the practice has been
pursued of treating the proceeds from t he sales of these
stocks as a credit against the cost of stocks and bonds.
If the credit balance to profit and loss of $115,796,646
were reinforced by the other sums here mentioned, the
final total would be increased to $192,573,304, even
after taking out the $12,956,550 credit on account
of the bonds converted during the year and $2,860,800
on account of a similar credit in the previous year.
As in the previous year, the cotftp&liy holds unusual
supplies of cash on hand or at command. On June 30
paid,
a
„
1909 the balance sheet showed
$26,990,450 of actual
cash, together with $18,800,000 out in demand loans
and time deposits.
For June 30 1910 there is only
$9,082,088 of actual cash, but the demand loans and
time deposits aggregate $27,450,000, and there is
$10,901,569 out in demand loans to the Southern
Pacific Co.
NORTHERN PACIFIC'S RESULTS IN AN
UNFAVORABLE YEAR.
In the
experience of the Northern Pacific Railway
what a great change in the income position
of a prominent railroad system may take place within
a short period of years where new capital expenditures
are of large magnitude and where a series of adverse in¬
fluences have intervened to prevent a growth in income
corresponding with the increase in capital obligations.
The experience of this road, too, indicates how essential
it is—we mean for the continued development of the
newer sections of country which are in constant need of
the influx of new capital to open up their latent re¬
sources, and which, hence, cannot afford to encourage
action of any kind that might tend to make capital hesi¬
tate to come in—that our leading railroad properties
should be allowed to have a margin of income well above
the requirements for fixed charges and dividends in or¬
der to safeguard them against a period of adverse condi¬
tions during the time when new capital expenditures
have not yet had a Chance to demonstrate their pro¬
Co.
we see
fess.
1131
road have had to contend.
Yet,
as
compared with
a few years back, there is a striking decline in
the extent of this annual surplus.
In 1906-07 the
only
requirements for the 7% dividends on the stock were
$10,850,000, and the year’s income showed a surplus
in amount of $12,623,929. In 1907-08
the call for the dividends was still $10,850,000, but
above the
same
the
surplus of income above the amount needed for
the purpose was reduced to $9,043,068.
For 1908-09
the dividend requirements were considerably larger
and the year’s surplus was only $7,534,350.
Now for
1909-10 the call for the 7% dividends is found to have
been $17,360,000 and the surplus on the year’s opera¬
tions is down to $4,936,259—a figure, to be sure, of
ample proportions, but nevertheless hardly more than
one-third of the $12,623,929 surplus of three years
before. The reason for this change is found in the
two-fold circumstance of a large increase in the
amount of outstanding stock, made necessary by the
company’s extension and development work, and tho
failure of the revenues, or at least the net revenue,
to increase to meet the dividend requirements on the
enlarged capital. It may, perhaps, be recalled that
$93,000,000 of new stock was offered to shareholders in
Jan. 1907, the subscription being payable in install¬
ments extending over a period of two years, the last
falling due in Jan. 1909. As a consequence the com¬
pany is now obliged to earn dividends on $248,000,000
of stock, against only $155,000,000.
As far
as
concerns
the failure of net income to
re¬
spond to the requirements, the most serious setback
was experienced in the year under review.
In this
year gross earnings increased $6,065,079, but expenses
ran up in amount of $7,967,401, thus producing an
actual loss in net in amount of $1,902,322. This
brought the net down to a figure actually $2,206,002
less than in the fiscal year 1906-07, before the great
increase in capitalization.
Careful study of the report makes it clear, however,
that the company had an unusual set of adverse influ¬
ences to contend with, and that the showing for the
twelve months is really very good in such a state of
things. In the first place, no small amount of business
was deflected from the Northern Pacific by new com¬
petition. While the gain in gross earnings for the
,
twelve months reached $6,065,078, $4,002,704 came
from the passenger business and only $1,685,431 from
the
freight business.
nues
was
over
The gain in the passenger reve¬
23% and was of unusual extent by
of certain
special events tending to augment
being. The Alaska-Yukon Pacific
Exposition was held in Seattle from June 1 to Oct. 16
1909, inducing, the report tells us, a very large
reason
travel for the time
passenger movement.
tions were opened to
Then certain Indian reserva¬
settlement and this created
large amount of passenger business, besides which
there was a very general demand for land all through
the country tributary to the lines of the system,
resulting in a large volume of travel.
But while the gain in the
!
unusual magnitude,
Was Very slight, particularly bearing in mind that" the
a
es
were
hot lii
wmgffiw
-saafifialiyeia
i&Jsea
re
We
"
-petition and the building of rival lines. The opening Of this, $93*329,415 had actually been
spent for ex¬
iOf the PugetSound line of 'fehe Milwaukee & St. Paul
tensions, additions, new facilities, «<fcc. During the
was perhaps the most serious of the new
competitors.? year under review there were further new large capital
-But the opening of some other lines also tended to take
expenditures of the same kind, as is evident from the
business away from the Northern Pacific. The; re¬ fact that
$14,307,262 was spent for additions, improve¬
port speaks of the making of connection between the ments, betterments and new equipment and that ad¬
Chicago Burlington rife Quincy and the Great Northern vances were made to sundry companies building
at Billings, of the building of the Spokane Portland <fe new lines and
extensions in the additional sum of
Seattle Ry. between Portland and Spokane and of the' $14,340,357, making the outlay
for the two accounts
openingof the Minneapolis St. Paul <fe Sault Ste. Marie combined no less than $28,647,619.
line to Duluth as having adversely affected the North¬
Of course, with these
large expenditures, and no in¬
ern Pacific during the
year, and says the fact that gross crease in stock or debt -(the bonded debt was
actually
freight earnings have increased at all in face of all this decreased $485,000 through the cancellation of bonds
new competition is a gratifying indication of the growth
purchased with moneys of the Land Department),
of the country tributary to its lines. The force of the
company is not able to show any such large hold¬
this statement will, we think, be admitted.
ings of cash as for June 30 1909, when it reported $33
In the matter of the expenses, too, conditions were
200,450 of cash on hand. For June 30 1910 the cash on
highly unfavorable, many special circumstances ac¬ hand, still ample, amounts to only $8,397,347, not count¬
counting for, this. The road, of course, suffered the ing cash in the sinking and redemption funds and in
same as other large systems from the increases in the
insurance fund. The company's
working assets
wages and from the tendency of operating cost to are nevertheless of
huge extent. Not counting ma¬
increase in nearly all directions. In addition, there terials and
supplies on hand, but including the $8,were
numerous
drawbacks peculiar to the section 397,347 of cash
already mentioned, the total of these
of country traversed by the
Northern Pacific's working assets June 30 1910 was $55,553,415, as
lines. The report enumerates a number of these. In
against working liabilities of only $11,079,631.
August in the Red River Valley and in the latter part
of November and early in December in the Far
THE RECORD OF THE ROCK ISLAND.
West,
particularly in Western Washington, serious floods
If any fair-minded person still has doubts as to the
came at various points,
doing much damage and caus¬ difficulties that beset railroad management in the
ing considerable interruptions to the free movement of United States under the conditions that have been
business. On -Nov. 30 the switchmen left their
po¬ developing during the last fifteen months, or that
sitions after refusing to submit their demands to arbi¬
urgent need exists that the railroads should be al¬
tration.
:At the same time an unusually heavy and lowed to
charge slightly higher rates, we would advise
severe winter set
in, and the operation of the road, as him to study well the annual reports of the different
a
consequence, for the whole of the four months from railroad systems as they come to hand one after an¬
December 1 1909 to March 31 1910 was unsatisfac¬ other. There are certain
tory and expensive.
Attention is also directed to the increase in taxes
from *$2,547,834 in the year ending June 30 1909 to
a
properties which occupy
position of such great pre-eminence—the Union
Pacific and the Delaware Lackawanna
&
Western
being conspicuous types of these—that they are able
$3,621,999 in the year ending June 30 1910, being an to display strikingly large profits even under adverse
addition ofv$l ,074,165, or 42%, in this single period of
happenings. These, however, are simply exceptions
twelve months. The increase per mile is from $449 which
prove the rule, and afford no indication of the
to $628.
President Howard Elliott well says‘that this course of things as regards
the general run of roads.
class of expenditure is beyond the control of the com¬ In another article we show
what a transformation in
pany—as a matter of fact it is beyond the control of the income condition of the Northern Pacific has oc¬
any company. The Federal Corporation Tax, which curred within the last few
years.
In the case of the
has been paid under protest, accounts for
only $201)196 Chicago Rock Island ;& Pacific Ry., whose income
of the increase.
results we shall review in the present article, we have
(As far as these taxes are concerned, there would ap¬ a still more notable instance of a
falling off in net in¬
pear to be no remedy, but there seems little likeli¬ come at a time
when, by reason of an increase in capi¬
hood of any repetition of the many
adverse
special
talization, the requirement was for an expanding
<
circumstances and conditions which marked the course basis of net.
of the late year. Furthermore, the maintenance ex¬
The fact that there is a shrinkage in the net is not
penditures were of unusual extent—in part, presuma¬ due to any lack of growth in the traffic or gross reve¬
bly, occasioned by the bad weather, but in part due nue of the system; nor does it imply any fault in man¬
also to extensive renewal work. The report tells us
agement or failure either to build up business or to
that expenditures of equal ; magnitude will - not be
promote economy and efficiency, in operations. Tt
necessary during the new or current fiscal year. follows simply from the fact that operating cost is
Altogether, therefore, it would seem as if the Northern rising in a most disturbing fashion, despite all efforts
Pacific had the worst of its troubles behind it.
to prevent it.
The « higher price of labor—-brought
In the report for the previous year, statistics were about; not alone
by advances in wage schedules, but
presented showing the extent of the company's new also by shorter hours and innumerable restrictions
,
capital (expenditures during the three ? years ending and regulations, all tending to add to. the cost of labor
with fj^ne ,30 1909. ^Besides the $93,000,000 new —is one main element in the
increase in operating ex¬
stock ^created; the bonded debt
during the three years, penses, but itris pot the only ope by t.any aaaeans.
it was shown, had inci^ased
^091^87 making the Government is adding to 4be burdens of thejiroads by
new capital addition^ for those three years*
$98,091,687. making larger and etill larger tax levies ,aod $hfc,public
r
Owe. % j
191#,]
is all the time
THE CHRONICLE
asking for better service and for better
facilities and accommodatmn. Add to this the higher;
prices *for fuel, for .^materials and for everything else
entering into the operating accounts of a road, and
the discomfiture of the railroad manager is complete,
so that it is easy to imagine him throwing up his hands
in despair.
'
These are general observations, but they find con¬
firmation in the present annual report of the Chicago
Rock Island & Pacific Ry. This important system
added #5 >035,692 to its gross revenues in the late year,
being a gain of a little over 8%—not a bad showing
considering that the agricultural yield in 1909 in the
territory tributary to the lines of the system was not
up to the average, precluding the possibility of any
increase in the agricultural tonnage. Now, what did
this $5,035,692 of added gross revenue yield in the way
of an increase in net? It will have been gathered
from what has already been said that there was no
increase at all in net, but actually a decrease. Ex¬
penses ran up in amount of $5,555,873 (over 13%);
accordingly the net is $520,181 smaller than in the
previous year, notwithstanding the expansion in gross
receipts of over five million dollars. But that is not
all. Government has been making prodigious addi¬
tional levies in the shape of taxes. With net earnings
diminished in amount of $520,181 taxes were increased
less than $605,836, or 26.7%.
rise in taxes especially significant
What makes this
is that it follows
a veiy noteworthy rise in the
previous year, there
having then been an increase of $480,970, or 26.87%
over the year
preceding. -In other words, the 1910
taxes were $1,086,806 higher than those of 1908, the
increase being 60.72%. The Federal Corporation Tax
accounts for only $113,992 of this increase; the re¬
mainder represents increases in taxes in the several
States, and it should be understood that only a small
portion of it has been occasioned by the construction
no
of
new
lines.
tm
5J£% dividends in the
yoar. As the
Chlcag9 Rock Island fa Pacific Ry. has $74^8^5^90 of
stock outstanding, the suiplus pf $1,004,60.9 is equal
to only
l}£% on the same, and hence it follows that
[above
this great railroad property in the late year earned
no more than 6j^% on the actual
amount invested,
without deducting anything for additions and better¬
ments, all of which have been charged to capital
account.
Is this a fair return? Is it an adequate re¬
turn for
If
a
growing property like the' Rock Island?
should go a few years
would be yet more striking.
further back the contrast
For instance, while for
the year under review the net income, after the deduc¬
tion of all expenses and everything else other than
interest, was $13,877,755, in 1906-07 the corresponding
item was $17,029,817. Yet in this earlier
year aggre¬
gate gross income was only $60,752*282, as against
$66,443,810 for the late year. In 1906-07 the com¬
pany had a surplus balance of $4,633,789 after the
payment of .5%% dividends, as against a surplus of
only $1^004,609 for 1909-10 after the declaration of
but 5% in dividends.
We believe it correct, too,
to say that there is no “water” in the
capitalization of
the Chicago Rock Island ■& Pacific Railway, which
should not be confused with the Chicago Rock Island
& Pacific Railroad or the Rook Island Company. At
all events the capitalization is very light, being
only
$10,478 per mile in the case of the stock and $31,855
per mile in the case of funded indebtedness and equip¬
we
ment trust notes.
With the
causes
of the rise in expenses so
patent,
to
unnecessary
go into particulars to show
that there has been increasing efficiency in operation.
it
seems
We may note,
however, that freight rates are slowly
declining, the average received in the late year having
beep 9.2 mills per ton per mile, as against 9.4 mills
per ton-mile in each of the two previous years.
The foregoing analysis of the report of the Chicago
Rock Island & Pacific Railway leads directly up to a
consideration of the position of the Rock Island Com¬
pany, which indirectly controls the property.
As is
well known, the Rock Island Company is merely a
holding company, and its income consists entirely of
the dividends received by it on its holdings of the stock
of the Chicago Rock Island & Pacific.
The Rock
Island Company owns the whole capital stock of the
Chicago Rock Island & Pacific Railroad Co., an inter¬
mediate concern, which in turn owns $71,207,400 of
the $74,877,200 capital stock of the
Chicago Rock Isl¬
and & Pacific Railway Co. Up to Dee. 1 1909 the
Chicago Rock Island & Pacifie Railroad also owned
$28,940,300 of the common stock of the St. Louis & San
Francisco Railroad, on which, however, no dividends
Altogether the falling off in net income was $1,126,017, the amount of the net for 1910 being only $15,274,509, against $16,400,527. In addition, the road
had greater fixed charges to meet. In this country
every progressive railroad system is obliged to spend
large amounts of new capital from year to year in
order to keep abreast of the times and supply the in¬
crease in equipment and in facilities required for a
constantly growing volume of business. Further
large sums of money are needed to build branches and
extensions so as to open up the undeveloped sections
of the country. To fail to do all this would be to in¬
vite decay. In the case of the Chicago Rock Island
& Pacific equipment notes were increased $10,795,000
during the year, besides which the funded debt was were ever received. The St. Louis & San Francisco
increased $15,682,000, making the total addition to shares have now been sold, and as part of the trans
the debt during the year no less than $26,477,000. action the Railroad Co. called for payment on Feb.
1
And yet net earnings, as we have seen, fell off over 1910 its entire issue of $17,364,180 5% gold bonds of
a mfiKop dollars.
A schedule of the new capital out¬ 1913 originally issued against the acquisition of the
San Francisco shares.
The oompany,
lays given in the report shows no less than $20,186,697 St. Louis
spent during the year for additions and betterments, however, at the same time sold to the Chicago Rock
for new equipment and for new road.
Island & Pacific Railway Co. $7,500,000 of 5% gold
8 The $ew
obligations counted for only part of the bonds due 1913. As a result of the oonabined 6perayear,land hence the increase in interest charges on tions there has been a net decrease of $9,864,180 in
that afiatoat was relatively small, reaching only $268,- the funded debt of the Railroad Company and A saVing
65.1
JufeOJ
the final result is of $493,200 per annum in&fj fixed $bajge&. > ; ■ * •*
When these transactions took place it uras
^ surplus above the 5% dividends paid in amount of
supposed
only $1/104yfiOO, as against a surplus of $2,236,212 the effect would be that dividends on Rock Island
v
THE CHRONICLE
Company preferred stock, of which
a
.
committee of the Chamber this week.
The office became
vacant with the death of J. Edward Simmons in
August.
The election will be held in November.
Mr. Hepburn
became President of the Newr York
Clearing-House Associa¬
tion at its annual
meeting last
month.
—William B. Bonn, a retired banker, died Oct. 21 at
Cronberg, Germany. He had been an invalid for about
two years.
Mr. Bonn was at
firm of Reuteen & Bonn of this
outstanding.
BANKS, BANKERS AND TRUST CO’S.
public sales of bank stocks this week aggregate 69
were all made at the Stock
Exchange. Only one
lot of trust company stock was sold at auction.
shares and
5-share
Low.
High. Close.
200
201
200
185
187
187
_.
time
a
member of the
Dec. 31 1903.
Last previous sale.
Oct. 1910— 202
Oct. 1910— 185
TRUST COMPANY—New York.
5 Trust Co. of America
330 H 330 H 330^ Oct.
one
city, but in 1878 entered the
firm of Speyer & Co.
He went to Frankfort-on-Main, Ger¬
many, in 1886, as the resident partner of the latter firm.
Mr. Bonn was about 70 years old.
He is survived by his
wife, a son, Max I. Bonn, of the London banking firm of
Bonn & Co., and a daughter.
He retired from business on
—The
Shares. BANKS—Neu> York.
*37 Commerce, Nat. Bank of
*32 Fourth National Bank
LXXXXI.
placed in Europe and the United States, and will bear interest
at 5%.
The loan is said to have been negotiated for the
syndicate at about 95, and it is expected that the bonds will
be offered at par and interest.
The proceeds of the loan
will be used by China on behalf of
currency reform and the
promotion of industrial development, as well as for the
building of State railroads. This loan, it is announced, is
entirely distinct from the Hankow Ry. loan.
—A. Barton Hepburn, President of the Chase National
Bank of this city, was nominated for President of the New
York Chamber of Commerce at a
meeting of the executive
little less than
$50,000,000 is outstanding, could be resumed. Doubt¬
less that would have been the case if the Railway Com¬
pany had been able to increase its net earnings in pro¬
portion to the gain in the gross earnings. What hap¬
pened, as we have already seen, was that net earn¬
ings were actually reduced in face of the large expan¬
sion in the gross. The result is that the 5% dividends
received on the Railway Company’s stock were little
more than sufficient to meet interest
charges on the
$71,207,400 of Railroad Company 4s and $7,500,000
of new 5s.
Of course, had the Railway Company, be¬
sides the 5% dividends paid, distributed also its $1,004,609 surplus, 2% would be shown to have been
earned on the Rock Island Company preferred stock
ITEMS ABOUT
[VOL.
—It
is
reported that the Russo-Chinese Bank will be
merged into a new institution, to be known as the Banque
Russo-Asiatique, which will combine the business in Asia,
1910— 330
India
* Sold at the Stock Exchange.
and
Persia
of
the
Russo-Chinese
Bank
with
the
Banque du Nord’s European business. It is thought that
posted
the capital of the new institution will be 50,000,000
rubles,
being $75,000, the or
$25,000,000.
same as the last preceding
Ladenburg,
Thalmann
&
Co.
are
men¬
transfer.
tioned as the New York bank's financial
correspondents
—The board of trustees of the Federal postal savings
sys¬ in the United States.
The Russo-Chinese Bank has a New
tem at a meeting on the 22d inst. approved a list of
forty- York branch at 52 Pine St. Last summer its former
Cashier,
eight cities in which the new’ system is to be given its first
Erwin J. Wider, converted to his own use some $650,000 of
trial
It is stated that, owing to the smallness of the
ap¬ its securities.
propriation, it is impossible to establish the postal savings
—An opinion respecting the liability of stock brokers un¬
banks in the large cities during the first year, and cities of
der
the Private Banking Act passed the present
the second class have therefore been selected.
year by the
It is also
New
York Legislature was submitted to State
announced as probable that the plans devised for the
Comptroller
system
Clark Williams by Attorney-General Edward R.
will be given at least a monthfs trial in the
O’Malley on
forty-eight offices
the 18th inst.
Mr. O'Malley’s ruling has reference to stock
before others are added to the list, although it is
expected
that the number will be largely increased before the end of brokers who, while not regularly engaged in the business of
the current fiscal year.
The offices named by the trustees receiving deposits, accept moneys from customers in the
course of their business in
are as follows:
acting as agent or pledgee in the
Bessemer, Ala.; Globe, Ariz.; Stuttgart, Ark.; Oroville, Cal.; Leadvllle, purchase and holding of stock.
It has particular bearing on
Col.; Ansonla, Conn.; Dover, Del.; Key West, Fla.; Brunswick,
the decision several months ago of
Ga.;
Comptroller Williams, to
Coeur d’Alene. Idaho;
—A New York Stock Exchange
membership was
for transfer this week, the consideration
Pekin, Ill.; Princeton, Ind.; Decorah, la.; Pitts¬
burg, Kan.; Mlddlesboro, Ky.; New Iberia, La.; Rumford, Me.; Frostburg, Md.; Norwood, Mass.; Houghton, Mich.; Bemldjl, Minn.; Gulfport,
Miss.; Carthage, Mo.; Anaconda, Mont.; Nebraska City, Neb.; Carson
City, Nev.; Berlin, N. H.: Rutherford, N. J.; Raton, N. M.; Cohoes,
N. Y.; Salisbury, N. C.; Wahpeton, N. D.: Ashtabula,
Ohio; Guymon,
Okla.; Klamath Falls, Ore.; Dubois. Pa.; Bristol, R. I.: Newberry, S.
C.;
Deadwood, S. D.; Johnson City, Tenn.; Port Arthur, Tex.; Provost,
Utah: Montpelier, Vt.; Clifton Forge, Va.; Olympia, Wash.;
Grafton,
W. Va.; Manitowoc, Wls.; Laramie, Wyo.
the effect that money placed “with a broker for the
purpose
of purchasing stocks on margins in the future, or
for specu¬
lative purposes, is a deposit."
In his finding Mr. O'Malley
maintains that where an account remains in the hands of a
broker for indefinite use, it would seem that it must be re¬
garded
as a deposit of money rather than as a payment; he
contends that the customer would be entitled to withdraw
it at any time prior to giving a definite order for
purchase,
the strict sense of
engaged in receiving
No definite announcement has yet been made as to the
date when the system will be put into
operation, but its in¬
stallation is not likely to take place before December at the
earliest.
which would convert it into a
margin in
the word, and hence where a broker is
such
deposits in addition to or in connection with his busi¬
a stock
broker, he would seem to come within the
—A new issue of United States notes of the denomination
the
Act. The Attorney-General also holds,
prohibition
of
of $1 was ordered by the Secretary of the
Treasury on the howrever, that in the case of
margins in the ordinary and strict
26th inst., under the authority of the Act of 1907.
This will use of the
term,
where
there
is an actual present purchase of
be the first issue, it is stated, of greenbacks since that of 1900.
stock upon which the margin is paid,
the prohibition of the
The notes will be emitted up to an amount of about
$75,000,- Act does not apply. In full, Mr.
O’Malley’s views in the
000, and are intended to supplant notes of denominations
ness
matter
of $20 and over now in circulation.
The present action is
said to be due to the demand for bills of small denomination
which arises at this period of the year.
*
-
'
ment bonds will be issued to meet the
loan;
they will be
are
as
follows:
STATE OF NEW YORK.
Attorney-General’s Office.
Albany, October 18 1910.
Hon. Clark Williams, State Comptroller, Albany, N. Y.
Dear Sir—Request having been made to me by Messrs. Sullivan & Crom¬
well of New YorkClty for re-consideration of my opinion of Aug. 9 1910 to
—Announcement was made yesterday of the consumma¬
tion of negotiations for a loan of $50,000,000 to the Chinese
Government by a local syndicate of bankers.
This group
of bankers is the same as that which has arranged to
partici¬
pate in the $30,000,000 loan for financing the Hankow-SzeChuen Ry., and is composed of J. P. Morgan & Co., Kuhn,
Loeb & Co., the National City Bank and the First National
Bank. The present negotiations were conducted
through
the International Banking
Corporation, and the agreement
as to the amount of thd'
loan, rate of interest and terms is
reported 'to have fee&h sighed in Pekin on the 27th inst. by
Daniel A/Mendfcal, of the
Banking Corporation, on behalf of
Willard D .'’ Straight,1
fottaerly* U/1 S. Consul-Generalr at
Mukden, and ndW agfehfrife^ *the Syndicate i1 -1 Chinese Govern¬
as
you, on the applicability of the Private Banking Act to stockbrokers, and
on a certain ruling made by your Department thereunder, and I
having con¬
ferred with your Secretary In reference to such request, I beg to submit
my
conclusions In regard to the same as follows;
My opinion dated Aug. 9 1910, holding that stock brokers were subject
they carried an open account for their customers against
which they can draw at any time, Is, In my judgment, sound.
This general holding Is attacked on the ground that the jaw applies
only
to persons “engaged In the business’’ of receiving deposits. and that a stock
broker Is not engaged In such business, but rather In the business of acting
as agent or pledgee for his customer In the purchase and
holding of stock.
Conceding the fact alleged. It by ho means follows them stock broker
cannot also be engaged In tt\e business pf receiving deposits.
It to admitted
that the acceptance of money btt open'account Ys dot a necedsar? part Of the
Stock-brokerage business. .< If, therefore,"this i®diariyand Usually done by
to this law where
■
tbft etook broker, he Is epgaglug to pother ,11^ qf blS^ess
of
purchasing and holding stooks.
It may be that he Is engaged In two kinds
of business, but It certainly cannot be said that he la not engaged In.the
THE CHRONICLE
Oor. 29 1910. j
business of receiving deposits when he regularly receives money to carry in
open account against which his customers may check.
Your ruling In reference to the placing of money with a broker on margins
although not covered by my opinion, seems sound.
I understand you ruled
an
Aug. 2 1010 as follows:
“A placing of money with a broker tor the purpose of purchasing stocks
on margins In the future, or for speculative purposes. Is a deposit.”
It Is urged that this ruling Is Improper for the reason that money given
a stock broker on margin Is In fact and in law a part payment of the pur¬
chase price of the stock, and therefore cannot be regarded as a deposit.
There Is much force In this suggestion.
Your ruling, however, Is apparently
Intended to apply only to deposits fdr the purpose of purchasing stocks on
margins In the future, and Is not lntVded to apply to a deposit of money
on margin accompanied with an order Cpr Immediate purchase of any stock.
Under the authorities. It Is clear that money deposited as margin with direc¬
tions to purchase certain stock musroe regarded as part of the purchase
price of that stock.
The relation of debtor and creditor Is not created be¬
tween the stock broker and his customer as to such payment, but title has
been transferred absolutely to the stock broker.
If the market value of
the stock so purchased subsequently declines, the customer must Increase
his payment accordingly.
If the value of the stock Increases, the customer
may withdraw so much of the margin as Is In excess of 10%.
This last right
would seem to Indicate that the margin Is In a sense a deposit, but In view
of the holdings of the courts that It constitutes part of the payment for pur¬
chase price, the right to withdraw anything In excess of 10% would proba¬
bly be regarded as a mere contract right and not as converting the original
payment Into a deposit.
The situation would seem to be very different, however, when the original
payment to the stock broker Is not accompanied with an order for the pur¬
chase of any definite stock.
In such case It Is clear that It cannot be re¬
garded as part of the purchase price, for there is as yet no purchase directed.
So long as It remains In the hands of the stock broker for Indefinite future
use, merely to facilitate the transfer to him of margins when definite orders
are given. It would seem that It must be regarded as a deposit of money
rather than as a payment.
Clearly, the customer would be entitled to
withdraw It at any time prior to giving a definite order for purchase which
would convert It Into a margin In the strict sense of the word.
If. therefore,
a stock broker Is engaged in the business of receiving such deposits of money
as these In addition to or In connection with his business as a stock broker,
he would seem to come within the prohibition of the Private Banking Act.
If your ruling was Intended to do no more than this. It would seem sound
under the principles of my previous opinion.
If, however, It Is Intended to
apply to margins In the ordinary and strict use of the term, where there Is an
actual present purchase of stock upon which the margin Is paid, It would
on
to be erroneous.
I am sending a copy of this opinion to Messrs. Sullivan & Cromwell.
Very truly yours.
seem
,
[Signed] EDWARD R. O’MALLEY,
Attorney-General.
The
validity of the Act has not yet been definitely deter¬
It
mined.
was
declared
unconstitutional
in
an
action
1135
dation of some of the
is
possible that only
working force of the bank, although it
one of the additional floors will be
utilized for this purpose.
—Arthur P. Heinze, brother of F. A. Heinze, surrendered
on the 26th inst. to U. S. Marshal Henkel, and was
committed to the Tombs to begin the sentence imposed upon
himself
on Oct. 26 1909. Mr. Heinze was sentenced to ten
days
in the Tombs and to pay a fine of $250, following his convic¬
tion on charges of interrupting the administration of justice
him
in
apparently blocking the service of a subpoena on an em¬
ployee concerned in the disappearance of the books of the
United Copper Co. wanted in an investigation of F. A.
Heinze’s management of the Mercantile National Bank.
The sentence was imposed by Judge Ray in the U. S. Circuit
Court and upheld last July by the U. S. Circuit Court of
Ap¬
peals. A petition for a writ of certiorari for a review of the
judgment of the Federal Court at New York was denied by
the U. S. Supreme Court on the 24th inst. and there being
no
other legal means of escape, Mr; Heinze surrendered himself.
Sanford Robinson, formerly counsel for F.,A. Heinze,
who was found guilty last year of an offence similar to that
charged against A. P. Heinze, and was fined $250, was on
the 21st inst. suspended from the practice of law for one year
by the Appellate Division of the Supreme Court.
—The Westchester Avenue Bank, the new Bronx institu¬
tion, opened for business this week. The bank has a capital
of $100,000 and surplus of $50,000.
Its officers are John
Tatlock, President; Warren Green, Vice-President, and
Frank D. Pitkin, Cashier.
It is located at Westchester
Avenue and Southern Boulevard.
—The directors of the Columbia National Bank of
Buffalo,
Y., have recently been making concerted efforts to in¬
crease the deposits of their institution, and the amount is now
well above $10,000,000.
A statement furnished us, under
date of Oct. 7, makes the deposits at the bank on that day
$10,081,780—representing an increase of over two million
dollars since the last call of Sept. 1, when they totaled
$7,877,051. The capital of the institution is $2,000,000,
and it has a surplus of $960,000.
—William J. Morris, formerly Chairman of the Philadelphia
Stock Exchange, and a member of the Exchange since 1858,
N.
brought by James Lee, a curb broker, in the State Supreme
Court, an injunction being granted on the 11th inst. restrain¬
ing its enforcement. This order was signed by Justice Bijur
on the 24th.
It is claimed that the decision applies merely
died on the 14th inst.
Mr. Morris retired from the Chair¬
to the plaintiff in the case, and that other brokers who are
manship in 1908, after serving in that capacity for twelve
amenable to the law will, to protect themselves, be compelled
years,
the members on that occasion presenting him with a
to take similar action to that adopted by him.
Attorneysilver
loving-cup.
General O’Malley and State Comptroller Williams on the
—The directors of the Philadelphia National Bank, of
25th inst. filed notice of an appeal from Supreme Court Jus¬
tice Bijur’s decision.
Philadelphia, have declared a semi-annual dividend of 8%,
A hearing on the constitutionality of the law will be had
payable Nov. 1 to stockholders of record Oct. 31, and have
by the United States Supreme Court on Dec. 5 in the appeal added $250,000 to the surplus, making that fund $3,500,000,
taken by Morris Engel, of Engel & Eckert of this city.
Mr. all earned. The present dividend declaration places the
Engel’s application for an injunction to restrain the State stock on a 16% basis, and compares with 7%% for the
officials from enforcing the law was denied by the United previous six months.
This is the second increase in the rate
during the present year, the amount having been advanced
States Circuit Court in New York on Aug. 31.
from 6% to 7}4% with the May distribution.
—At a meeting of the directors of the Fourth National
—The West Philadelphia National Bank is the title under
Bank of this city on Thursday, several changes were made in
the official management incident to the promotion in August which a new Federal institution is being formed in Phila¬
The application has been approved by the Comp¬
of James G. Cannon to the presidency, succeeding the late delphia.
of
troller
the
Currency, and the institution will be organized
J.
Edward Simmons.
Two new Vice-Presidents were
elected at this week’s meeting, Samuel S. Campbell and with $200,000 capital. Those who are engaged in perfecting
Charles H. Patterson, and Daniel J. Rogers was elected the project are C. D. Foss Jr., William C. Mason, John C.
Cashier.
Mr. Campbell has been President of the Night & Knox, Louis J. Kolb and C. Edgerton.
Temporarily the
bank will have quarters at 52d and Market streets, but its
'Day Bank at 44th Street and Fifth Avenue for nearly three
years, and prior to his election to that post had been a Vice- permanent location will be at 52d and Ludlow streets.
President of the United States Mortgage & Trust Co.
—The officials chosen for the new North Penn Bank of
He
will continue as a director of the Night & Day Bank.
Philadelphia,
lately chartered, are LouisH. Michel, President,
Mr.
Patterson, the other new Vice-President of the Fourth, had Charles E. Starr and Joseph Schlenz, Vice-Presidents, and
been Cashier of that bank for many years, and Mr. Rogers, R. D. Moyer, Cashier.
The bank will locate at 29th and
who replaces him in the cashiership, had heretofore served Dauphin streets.
1
^ V
as Assistant Cashier.
—The Fourth Street National Bank of Philadelphia has in¬
—The stockholders of the Farmers’ Loan & Trust Co. of creased its dividend rate from 12 to 14% in the declaration
this city adopted on Wednesday an amendment to the com¬ of a semi-annual payment of 7%, payable Nov. l, against
pany’s charter so as to include therein the purpose and power 6% previously . The sum of $500,000 has been added to;tjhe
to transact business by branch offices in London, Paris,
surplus, making it $§,000,000. .7
,7’
7‘: .7 ’
7 7
Berlin and Rome.
While the institution already has
—A dividend of 10% was declared this week in favor of the
branches in London and Paris, these points of operation were stockholders of the failed Fort Pitt
.National Bapk of Pitts¬
not specifically named in the charter, as required under a reburgh . The bank, which suspep^ed in 1907* had a eap|tai of
ucent oiling of Attorney-General „ O’Malley, and this week’s $I*0QP,000.7 The
depositors were. paicjinftull, with interest
chang#
ifr the charter wan made -to correct the apparent de- M $%• stbejfipal,,
@89*'" le**'!; irff 0l ?-M4r>vs )uci
.
,
,
•
•
v>7- *.i
;rj
to joined
3'iVvrfStMCf ftlfj fxi TOinO&Urc
10? rjfcsSV;.:;.
iMFhe -First National ^Bankvat’ Walt Street
■
Xc
involve^itheconstruction
stnictitiSk,
utotridl
nf
r.i oii
\ *
F'-ij
and-Broadway
-twftiiadditional stories.; t© the;
The extra ’
rtflf ul pyjMSfca* #wr e»!
avoirs
forjPrw*r
for the' aeeommoarfoole S51i>!-od t'** ■pr.lZ&BQ'mq j
ii
hf.o- ">cf totrn&r/
r
ij:Vr
^££o! «rf;t -teem o-l beuaal ed Hm rbnod
1136
THE CHRONICLE
removal from
i
Ydfk ofi aft indictm&ht returned against
Tfife order for Mr. Hoffstbt’s extradition
i
|VftL.
•
^
defaulted for
.
..
}
„
i*.*
.
•.
LXXXXI
,
.
$1,400,000. Ropke’s accounts are said to
Pittsburgh.
have been subjected to a* semiannual cheek
by an expert
was signed by Gov.
Hughes in April, foTldwing the handing i auditor, notwithstanding which his irregularities extended
ddWti Of the indictment agaittSt Mr. Hotfoot
growing out back over a period of some fifteen years, during which he
of the padfcagfe of an ordinance which named as
city deposi¬ enjoyed the confidence of his employers and all who knew
taries several hanks in whieh he w«fs interested.
Mr. Hoff- him.
him in
;stot surrendered himself Oh the f$th inst. to District
William A.
the sum of
Attorney
Blakeley, of Pittsburgh, and furnished
bail in
$20,000.
—The Lebanon National Bank of Lebanon,
Ind., closed its
doors on the 24th inst.
Although it is stated that its
voluntary liquidation was decided upon by resolution of the
•directors, its affairs
were
Examiner Oscar L.
Telling.
taken charge of by National Bank
According to the Indianapolis
papers, the cash and securities of the institution have been
transferred to the First National Bank of Lebanon, and it is
said that arrangements are being made for the immediate
settlement in full with all depositors. The September I state¬
ment of the Lebanon National is reported to have shown a
capital of $50,000, surplus of $29,000 and deposits of
$362,596. E. T. Lane resigned the presidency on Sept. 1,
being succeeded by O. R. Daily, previously Cashier. The
bank was organized in 1882 as successor to the private
banking firm of Hazelrigg, Daily & Co., founded in 1867.
Bad loans are said to have necessitated the present step.
The American Trust Co. of Lebanon, which was affiliated
with the Lebanon National
i
over
—The Norfolk National Bank, of Norfolk, Va.,
took
formal possession of its newly constructed
banking home on
Main Street on the 1st inst.
The
building is of white
Georgia marble, of the Gothic type of architecture, and is
one of the most
imposing of the city’s banking houses. It is
three stories high, although from the front elevation it
appears to be but one story.
The banking room proper is lo¬
cated on the main floor, where President
Hardy* VicePresident Schwarzkopf and Cashier Godwin are also domi¬
ciled.
The directors’ room is on the second
floor, there is a
mezzanine gallery for employees,
and the third floor is given
over to a
dining room and kitchen. The lighting system
of the new building is one of its chief features.
This consists
of large skylights so
arranged that no direct sun rays reach
the interior, and large plates
of leaded glass in the ceiling
serve to diffuse the
light evenly over the whole of the main
banking room
In the construction of the building particular
attention has also been given to the safe
deposit and storage
.
vaults.
room
The
is of
woodwork
in
the
interior
of
the
banking
mahogany and the interior finish otherwise
is
Bink, closed temporarily with of white Vermont marble and bronze. The Norfolk Na¬
the suspension of the bank.
An effort, it is stated, is being tional in its last statement to the Comptroller of the Currency,
made to merge the trust company with the Citizens’ Loan under date of Sept.
1, had total resources of $6,498,99(1. It
& Trust Co
This pending plan has brought forth from has a capital of
$1,000,600, surplus of $50&;OO0 and undivided
State Auditor Biffhehher an announcement concerning profits of $157,979.
The deposits in the statement referred
the law respecting the consolidation of such institutions. to amounted to
$8,840,!92fi.
He Is Cfwoted as
Baying thht tinker the State law two trust
—Plans are being perfected to organize the National Bank
companies ealm’Ot consolidate. A trust company, he says, of Commerce of Atlanta, with a
capital of $1,000,000 and
has the right to sen any or all of its assets, and by
means; surplus of $200,000. It is expected to open the new institu¬
of a sale the property of owe such concern tnay be made to tion for
business about Jan. 1.
The organization committee
p«8S*te another ^tmilar concern. He states that after aH the j includes, among others, the
following names: John H,
assets Of the American Trust'Go. are sold to the Citizens’ Loan
Carter, Chairman of the Committee; W. T. Gentry, President
& Trust Co., if that plan is agreedtm, the Stockholders and; of the
Southern Bell Telephone Co.; J. T. Holieman, Presi¬
directors Of the American may elect to quit business and ! dent of the Union
Savings Bank; F. J. Pax on, President of
dissolve the corporation, leaving the Citizens’ Go. in con-j the Atlanta
Chamber of Commerce; B. F. Dillon* General
trol of ttee business of the American.
Superintendent of the Western Union Telegraph Co., Acc.,
-—William A. Mason, head of the banking firm of
—The Guarantee Bank & Trust Co. of Birminghana, Ala,,
WiHkrm|
A. Mason & Cb. (formerly Mason, Lewis Ar Co.,
Chicago and was closed on the 6th inst. in proceedings, said to allege insolBoston), died recently in Pasadena, Cal., aged sixty-three! vency, instituted by the State Attorney-General in the
years.
The body was brought to Chicago for burial.
Chancery Gourt. E. D. Smith has been appointed receiver.
—The Madison-Square Bank, located at'Madison
Square, a The institution changed its name from the City Bank &
suburb of Grand Rapids, Mj#i.; has been taken over
by the ; Trust Co. during the summer, and increased its capital from
Grand Rapids Savings Bank, and will be
operated as a1 $50,000 to $100,000. George M. Webb, President of the
branch of the latter.
The Madison Square institution was company, is quoted as stating that there is enough paper to
organized in 1907 With $18,000 capital.
pay the depositors and stockholders if it can be collected, that
—The Night & Day Bank of St. Louis began business on a large proportion can be collected, but it is what is known
as slow paper.
the 3d inst.
It is reported that it has a capital of
$150,000,
one-half paid in, and a surplus of $55,000, half
—After seventy-five years’
honorable existence, the
paid. Its
offices are at 808 Olive St., and its
management consists Gitizens’ Bank of Louisiana, at New Orleans, will be liqui¬
of Alberts. White, President; W. S.
White, Vice-President, dated on Jan. 30 next, and the Citizens’ Bank & Trust Co. of
and George L. McClure, Cashier.
The institution maintains i Louisiana will be incorporated to continue the business of the
bank.
The latter has a paid-in capital of $380,209; surplus
banking hours from 8 a. m. until midnight.
of
—The twentieth anniversary of the
$419,800, and undivided profits of $30,000. Its deposits
Mississippi Valley
on the 24th inst were $1,600,000 and the
Trust Co. of St. Louis was reached this month.
aggregate resources
The insti¬
on that date amounted to $2,430,000.
tution began business on Oct. 3 1890 with Julius S.
The management
Walsh,
of the bank is as follows: G. W. Nott, President; H. Larousnow
Chairman of the board, as its first
President, and
Breckinridge Jones, the present executive, as Secretary. sini and A. A. Lelong, Vice-Presidents; S. A. Trufant,
During the twenty years the company has grown to an insti¬ Cashier, and H. C. Grenier, Assistant Cashier.
tution with resources of over
$27,000,000, the Sept. 1 state¬
ment showing the amount as
$27,498,558. It has a capital
of $3,000,000 and Surplus and undivided
profits of $5,605,[From our own correspondent.]
098.
The “Globe-Democrat,” in
referring to the part played
London, Saturday, Oct. 15 1910.
by the institution in the development of the city, says:
Scarcely had the apprehension excited by the revolution in
“The company has assisted in the construction of six im¬ Portugal died down when even graver anxieties were caused
portant railroads, all serving St. Louis. It has developed by the great railway strike in France. The relations between
the railway servants and the companies have been strained
a new wholesale section and‘two new
residence districts in
for the past half-year, and from time to time a strike has
St. Louis, besides large suburban subdivisions.
For the been threatened.
But few people believed that it would
past ten years it has been;depositary for three-fourths of the take place, for M. Briand, the Prime Minister, expressly
public moneys of the State Of Missouri and also for part of recognized that the men had grievances. Therefore he
the funds of the city of St. Louis. ’ ’
Vice-President Samuel received a deputation from them and undertook to put their
case before the companies.
E. Hoffman was one of the founders of the
Everybody expected that at
company and least full time would be
to
given
the Prime Minister to carry
Secretary James E. Brock has been associated with it since out'his
policy, and therefore the strike so suddenly declared
its organization.
took all France and her neighbors completely by surprise.
In France itself the disorganization of every kind of
-*-A check for‘$10,000 has been sent
by The Guarantee
business has been great.
Co. of North America (Montreal) to the
Even London has felt the conse¬
Fidelity Trust Co. of quences severely, and as at this season of the year large
Loiiisville, TCy in settlement Of its‘boUtis*of suretyship on numbers of British
people are bound to tetum to Egypt,
August Ropke, ex-Secret ary and bookkeeper, who recently India, Australasia, and
the Far East
£m-
.
.,
Oc*5 29
barfassm&rts? h&ve befch ekcefecfifcgly great.
There'is every
indication now, however, that th€f stWke is alinost at an end*.
During the past fcwetity^fou* hoiirs the Fretich mails have
regularly delivered, and throughout yesterday and1 this
morning telegraphic communication is quite free. There¬
fore, it is concluded that the strong action taken by the
Government in arresting the leaders and issuing mobiliza¬
tion orders to the strikers generally has nipped the strike in
the bud.
Even in Paris itself there was a decided change
been
of
feeling
Thursday afternoon, when business improved
on
materially upon the Bdurse.
Here' at home the cotton dispute has been fortunately
arrangement has been arrived at between the
representatives of the Boilermakers’ Society and the ship¬
builders.
Vtoting papers have been issued1'to the boiler¬
makers, and they are requested to return their votes not
later than Wednesday next.
The general impression is that
the men will accept the terms agreed to by their represen¬
tatives and that the difficulty will thus be ended.
In South
Wales, also, order has been restored at most of the mines,
and the belief is that all trouble is nearly- at an end.
That
being so, the feeling is almost universal in the city that we
are about to witness a decided improvement upon all the
stock markets.
The American department has been active
An
settled.
Even the holiday
during the week.
99..8866770——““TTFihhvirees^tNationl
THE CHRONICLE
1919.)
on
Wednesday did- not
check the activity,1 for quotations here defeidedly advanced,
and since then the-feeling has continued to improve.
The traffic returns of the* British railway companies are
9.8721—“The
National Banks.—The follotyihg inforhiatfoh;
national banks is from the office of the
Currency,' Treasury Department:
APPLICATIONS TO
.
rOgaidfng
Comptroller’of the
*
CONVERT (INTO NATIONAL BANKS
APPROVED.
.
:
‘‘The State Bank” into “Tlie First: National Bank of Slloam Springs,”
Siloaifr Spnhtrs,r Atk. Capital: $25,000; - ‘
.
^
ThCState. Ba^ik, Sffoam Sbnngs, Ark., into “The First National Bank
ot SUttatn Springs.”
Capital,^’5,000. W. T. LaFollette, SUoam Sdrbi£s,
Ajli
,
■
*•
*v
■
CHARTERS ISSUED TO NATIONAL BANKS OCT. 6 TO ’Opt-, l a.
First National Bank of Altamont.” Altamont, N. Y. Capita],
$25,000,
Newton Ketcham, Pres.; Edward O, Crannell, Vice?
Pres.: V. P. Dowe LeC, Second Vice-Pres.; Trying W. Khisman.
Bank of North Hudson at West Hoboken,” West
Hoboken, N- «L Capital, $100,000. Geo. B. Bergkapapi Prer.k
9,868-
John J. McMahon, First Vice-Pres,; Otto Kaegebehn? Second VicePres,: Howeil S. Bennet, Cashier.
“The First National Bank of Dunmore,” Dump ore, P*.
Capital,
$190,000.
M. J. Murray. Pres.; H. M. Spencer and Vlo, Burschel,
Vice-Presidents; Conrad T- Shindel. Cashier.
First National Bahk of Marcellus/’ Marcellus, N. Y, Capital,
$35,000, J, C. Parsons, Pres,; F. W. Knapp* Vloe-Pres.; m N.
B crgcrstock, Csshlcr
National Bank of Pelham," Pelham, Ga.
Capital, $4O,Q0Q.
H. H. Merry, Pres.; Isaac A. Busch, Vice-Pres.; O'. G. Lott, Cashier.
Farmers* National Bank of Slloam SpriagV’ SUoam Springs,
Ark.
Capital, $50,000. Geo. Tatumi, Pre^,; Ko>- C McCullough.
Vice-Pres.; Connelly Harrington, Cashier.
Conversion of- the
Farmers? Bank of SUoam Springs.
Planters’ Rational Bank of Opelousas,“ .Opelousas. La. Capi¬
tal* $5Q,000.
Robert Chachere, Pres.; W. F. Clopton. Vloe-Pres.;
Jno. P. Savant, 2d.. VJce-Pres.; J. A. Perkins, Cashier; Jas. A.
Dcjean, Asst Cashicx.
.
•••
■
,
.
,
■
.
..
exceedingly satisfactory, and it is believed that further
Canadian Bank Clearmga.—The clearings for the week endeconomies are being enforced in working.
Consequently the
ing
22 at Canadian cities, in comparison:
expectation is that the present half-year will be more profit¬ weekOct.
of 1909f shows an increase in the i
able for the railways than any half-year for a long time past.
The market for mining shares of all kiiids—gold, copper,
Week endtoy Octtibgr 22
silver and so on-—very largely depends upon the Paris
Clearings al—
Bourse.
There is, of course, a large market in London, and
1909.
191GL
k; UH&
other markets are very influential likewise.
But when
7TParis is depressed there is generally depre&sfon in the Euro¬
Canada—
Montreal
44,0^6,1531
pean mining markets^ for the holding of mining shares oh Terojdo
31,217,
French aceobrit is exceedingly large, 'especially the holding Winnipeg
of Rio TinfcU sharesy De BCers, and both Witwatersrand Vancouver
3,801,992
.
T—.
ftr
-----
shares and Rhbdestatl; shares. As soon as the strike is ended
in Paris it is believhd, both in London and in Paris, that
there vriW be
decided recovery, and consequently the more
Qwwf—
Quebec
—
-
-
:
-
.
-
1
Hamilton
Cdlg;
2.389.U30
1,976,961
1,980,672^+1!
SI
far-seeihg ajfev lpokhig' for increased; activity and a consider¬
t 1,918
Londoi
l,39f
mining shares.
1,075,3581 +
Money coiittnues1 to be abbndant and cheap. A little Edmonton
ReghiA
gold, it is true, has been taken from the Bank of England; Btandpn
Not Hi)
T tfot
this week for India, but although India is very
Lethbridgem<aud^4i^ |oj
prosperous
just now, it hr not expected that much wilt be required, at
TotM. Canada....
139;lar,732 125,487,09'4' +l0.Vi ‘95,fi36.BS8| $7,1^2.MS'
all events, for some time yet.
The Egyptian cotton crop is
.L—a-a
i. ..L"..
turniiqr out to bexeven better than had been supposed; and
Auction Sales.—Among other securities the following, not
as the'price is vhry high", the growers arc
hhrry^g* the stft$f rtguJtariy dbailtfin
at the1 Board, were recently sold'ht auction.
to market as quickly as possible.
The demand for gold for
By
Messrs.
Adrian
H. Muller & Son:
Egypt, therefore, continues. It is not yet known how much
Stocks:
Stocks.
■
gold will be takeh for that country to-day, but it is expected
15 MCNamee (ndw Cofumbia) Mesh
5 Trust Co. of
able rise in ail sorts? of
—
-
.
to be of considerable amount.
The India Council offered for tender on Wednesday 40 lacs
of its bills and the applications amounted to nearly 392%
lac5, at prices ranging from Is. 4 l-16d. to Is. 4 3-32d. pet
rupae.
Applicants for bills at Is. 4 l-16d. and for tele¬
graphic transfers at Is. 4 3-32d. per rupee were allotted
about 11% of the amounts applied for.
English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the
past week:
London.
Week ending October 28.
Sal.
Mon,.
Tucs.
Silver, per oz
d. 26 3-16 25 15-16 25%
Consols, New, 2% per cents.79 13-16 70%
79%
F6r account
.1
79 11-16 79 9-16
79%
French Rentes (In Pari^.fr. 97.00
96,95
96.9234
72 %
Amalgamated Copper Co
71%
7234
ft Anaconda Mining Co. 1
8%
8%
m
Atchison Topeka & Santa Fe.107 %
10734
10634
Preferred 1. '
103 34
10334
103
Baltimore & Ohio
111
111%
111
Preferred
9234
9234
9234
Canadian Pacific
203%
20334
202%
Chesape tke & Ohio.
8534
8634
84%
132
130
Chicago Mllw. & St. Pavg... 13134
Chicago Great Western
26
2534
25%
Denver & Rio Grande
35
3534
35%
P referred
79 34
7934
7834
Erie
SQ%
30%
30%
First Preferred:
52'
5134 '
51
Second Preferred
39%
3934
39
Illinois Central
137
137
135
Loul3ville & Nashville.
15134
15134
15034
Missouri Kansas & Texas
36%
30
36%
Preferred
69
70
6934
Nat. RR. of Mex., lgtPref.. 69%
7234
72
Second Preferred3,6%
34%
34%
N. Y. Central A Hudson Riv.l2l34
122
120J4
N. Y. Ontario & Western l.. 45
45
44%
Norfolk A Western..
103
102
10234
Preferred
91
91
90%
Northern Pacific
124%
124%
123
aPennsylvahid
6834
67%
6734
.......
__
_
-....
....
^
.
,
..
.....
•"SSSftSte:::::::
3*
aSecond PreYeft'Cd'.
50
Rock ISlahd.
Southern Pacific
35%
123%
Southey Railway
seltSrc6^|ortUoi::::: i
Preferred
WabaSh
.Vi:
..
Extended
a
Price
IS
U
35%
123
34%
starRag.
c
4934
121%
27
.
62%
180%
9534
8134
178
123%
122%
$f|
4$-.
pftffcthua,
a*
27
63
[H
Union
u.
s
50
9534
80%
Wed.
Thurs.
25 15-16 25%
79 1-10 79 1-16
79 1-16
7934
96.90
96.90
71
7034
8%
107
10334
111
93
203%
85
130
24%
34%
7834
3134
51
3934
136
15034
35%.
70
7234
8%
107%
103 34
111
93
204 34
84 34
129
24
34%
78%
30%
50
39
136
150
3534
70
7234
34
12
120%
102
101.34
9134
12234
6734
78%
45
4934
9134
12234
33
34
44
68
7834
45
4934
34
121%
2634
PH.
25 11-16
79 3-16
79 3-16
96.95
C71H
8%
107%
104
112
93
204
86
129%
25
3434
78%
30%
51%
3934
13634
15034
36
70
7234
34
120%
44>4
10234
9234
122%
68
79
45
49;
35"
122’
27%
6234
179%
9534
Ex-dlvldend.
30
1 National Surety
76
—276
C6_
DXVIDEND&.
all'the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics
.
Per
Cent.
Name of Company.
Railroads (Steam).
Atch. Topeka & S. Fe, com.(qu.)(No.22)
Atlantic Coast Line RR., jrref. (guar.)
Central RR. of New Jersey (quar.)
Cleveland & Pittsburgh, reg. (guar.) (?w.)_
Special guaranteed {guar.)
Cripple Creek Genital, pref. (gu.) (No. 20).
Erie A Pittsburgh (quar.)
Evansville A Tei’re Haute common
.....
Georgia SoUV A Florida, 1st A 2d pref..
Grand Truiilt, guaranteedFirst and secohd preferred
Great Northern (quar.)
Mexitan Northern...
Missouri Kansas A Texas, preferred
Nashua A Lowell
,E*1ta
...
Street and Electric Railways.
Cape Breton Elect. Co., com. (No. 1)
Preferred (N6. 9).-—
Columbus (O ) Ry.. pref. (quar.) (No, 44)
Commonwealth Pow.,Ry.AL.,pf; (qn.)..
Connecticut Ry. & Ltg., com. Apf. (qu.)
Dartmouth & Westport Street Rp. (guar.)..
EasfStl Lotiis A Sub., pf. (quar.)(No.l8)
Georgia Ry. & Electric, com. (guar.).
Grand Rapids Ry., pref. (quar.) (No. 40)
Hartford A Stringfield Street Ry..
Havana Electric Ry.. com. Alpref. (qu.)_
HelepaLight A Ry., preferred (quar.)-..
Lewlston Aug. A Waterv.St.Ry.vpf. (qu.)
Lincoln (Neb.) Traction (guar.).--Mexico Tramways (quar.)
f.(qu.) (No. 44)
......
....
*
'
.
Common
1%
1
1
1%
5
234
2
434
34
Norfolk A Western, preferred (quar.)
Northern Pacific (quar.).
Reading Co., second preferred
Rome Watertown A Ogd., guar., (quar.)
St. Louis A Sin Fran. 1st pref. (quar.).
Utica Chchango A Susq. Valley, guar
^
2
2
2
-
,
1%
234
234
1%
National Rys. of Mex., 1st pref. (extra)..
81%
19%
33034
The following shows
cl21%
41
68>
Aiigig^--
Khltting CC. or Philmont,
NTY...—;
: .$755 lot $9,000 Number 1465 Bfbadwa jf Ob.
1st 6s, 1925. F. A A
$06 *lut.f lot
City Investing Co., com
60-00%
Light, pref......
1
1
1%
2
1%
1
3
When
Dec.
Nov.
Nov.
Dec.
Dec.
Dec
Dec.
Nov.
Nov.
Nov.
Nov
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
134
Nov.
3
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
1%
134
l
2
1%
2
1%
2
134
1%
134
134
1%
134
234
234
1%
Books CRrsed,
Payable.
Nbv.
Nov.'
Nov.
Days Indukoe
1^
NOv.
10
1
1
1
1
10
1
2
Holders
Holders
Hoidera
Holders
8
Sept.23
I
.
Nbv. 10
rec. Oct .2 la
of red. Nov.110
Of rec. Noy. 10
6f rec. Nbv. 19
of rqc. Not.30a
td
Holder^ ot
18
to
Oct.
lers of rec. Oct.
to‘
Oct. 24
8 Sept. 23
Oct. 24
to
1
1
10 Holders of rec. Oct 20a
1 Holders of refi. Oct.15a
1 Holders trf rec. Oct. 15a
10 Holders of warrant No.6
18 Holders of rec. Oct.31d
1 Holders Of rec. Oct. 18a
10 Holders of rec. Oct.22a
15 Nov. 1
to
Dec.
1
1 Oct. 15
to
Nov! 14
1
1
1
1
1
15
1
1
19
1
1
12
1
1
1
1
31
Nov.
Nov.
Nov.
Nov.
Oct.
Nov.
2
Jan. 16
Holders of rec. Oct.21a
Holders of
rec. Ocl.2la
Holders of rec. Oct. 15a
Holders of red. Oct.i9a
Nov.
I1* to Nov. 15
Holders of rec. Oct.21a
Hoidera of rec. Oet I6a
Nbv. 16
to
Nov. 19
Holders ot rec. Oct. 15a
Holders of rec. Oct. 15a
Opt: 23
to"
Nov. 12
Holders of rec. Oct.24d
Hblders of rec- Oct.15a
Octr. 22
far* OctT 31
Oct. 18
to
Oct; 81
of
Hoidera
re®. Oct. 20
Oct. 13 '
*
Jari.
1’ td’
Noy. y 1 HoMeiU
IH Nov.’1- 1
&-(<h»r-5
dfree;06t.
:-4r NbV. 1
(extra) -w.'.^j
otn&
.
.u—
PoTtland(Ore.)Ry.Jj.<SaP. ,cm.(auj(Njg.Q)
i
Dec;!
Noy,.,
Nov.
17
6
I
1
.
1
Td
oqc U
1138
THE CHRONICLE
Per
Cent.
Name of Company.
Rio de Janerio
Tram., Lt. A Pow. (qu.).
Springfield A Xenia Ry., pref. (quar.)...
Tampa Electric Co. (No. 22)
Toledo Bowl’g Green A Sou. Tr., pf. (qu.)
Union Street Ry.. New Bedford (guar.)
West Penn Rys., prel. (quar.) (No. 20)--
1K
1K
4
IK
2
IK
When
Books Closed.
Payable.
Days Inclusive.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
1
5
15
1
1
1
Holders
Holders
Holders
Oct. 21
Holders
Oct. 23
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov
Nov.
Nov
Nov.
Nov.
Nov.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Nov.
Nov.
Nov.
Nov.
Nov.
Nov
1 Holders of rec.
22
to
23
to
1 Holders of rec.
1 Oct. 26
to
1 Oct. 29
to
of
of
of
rec.
rec.
rec.
to
of
rec.
to
Oct. 15
Oct. 31
Nov. 1
Oct. 31
Oct.21a
Nov. 1
tianks.
American Exchange National
Bowery (quar.)
Extra
Chemical (bi-monthly)
City, National
Com Exchange (quar.)
5
3
5
2K
5
4
Fidelity
Germania
3
10
Extra
Greenwich (guar.)
Lincoln National (quar.)
Metropolis, Bank of the (quar.)
Nassau (No. 115)
Pacific (quar.)
trust Companies.
*
2K
2K
2K
-
s.
4
4
2
A star (quar.)
Broadway (quar.)
2
IK
12 K
Farmers’ Loan & Trust (quar.)
Hamilton, Brooklyn (quar.)
3
Kings County, Brooklyn (quar.)
Nassau, Brooklyn (quar.)
4
2
,
Amalgamated Copper (quar.)
K Nov.
American Chicle (monthly)
1
Nov.
Extra
1
Nov.
American Dist. Teleg. ol N. J. (quar.)
1
Oct.
American. District Teleg. of N. Y. (No. 61)
1
Nov.
American Gas A Electric, pref. (quar.)
IK Nov.
American Glue, common (No. 10)
2
Nov.
Common (extra) (No. 6)
1
Nov.
Amer. Light A Traction, com. (quar.)..
2 K Nov.
Common (payable In common stock).. 2Hstk Nov.
Preferred (quar.)
IK Nov.
Amer. Malt Corporation, preferred
1
Nov.
American Malting, preferred
62c. Nov.
American Steel Foundries (quar.)
IK Nov.
American Teleg. A Cable, guar, (quar.)
1K Dec.
Bergner A Engle Brewing, preferred
Nov.
$4
Bond A Mortgage Guarantee (quar.)
3
Nov.
Brill (J. G.), pref. (quar.)
IK Nov.
British Columbia Packers’ Assn., pref
3 K Nov.
Butte Coalition Mining (quar.)
25c. Dec.
Butte Elec. A Pow., pref. (quar.) (No. 37)
IK Nov.
Cambria Steel (quar.)
IK Nov.
Canada Cement, pref. (quar.) (No. 3)..
IK Nov.
Casein Co. of Amer., pref. (quar.) (No. 42)
2
Nov.
Claflln (H. B.), 1st pref. (quar.)
IK Nov.
Second pref. (quar.)
IK Nov.
Commonwealth-Edlson (quar.)
IK Nov.
Computing Scale (quar.)...
IK Nov.
Consolidated Gas of X, Y. (quar.)
IK Dec.
Consol. Gas, El. L. A P., Balt., common
2
Nov.
Consolidation Coal (quar.)
IK Oct.
Cuyahoga Telephone, preferred (quar.)..
IK Oct.
Diamond Match (quar.)
IK Dec.
Distillers’ Sec. Corp. (quar.) (No. 32)..
K Oct
Distilling Co. of America, pref. (quar.)..
1
Oct.
Eastern Steamship (quar.)
IK Nov.
Eastman Kodak, common (extra)
10
Dec.
Edison Elec. 111., Boston (quar.) (No. 86)
3
Nov.
Preferred (quar.) (No. 22)
IK Nov.
Electrical Securities Corp., preferred
2 K Nov.
Federal Sugar Refining, pref. (quar.)
IK Oct.
General Chemical, common (quar.)
IK Dec.
Goldfield Consolidated Mines (quar.)
30c.
Oct.
Extra
;
20c.
Oct.
Gorham Manufacturing, common (quar.)
2 K Nov.
Guanajuato Pow. A Elec.,pf.(qu.) (No. 9)
IK Nov.
Intercontinental Rubber, com. (No. 1)..
1
Nov.
International Harvester, pref. (qu.) (No. 15)
IK Dec.
International Nickel, common (quar.)..
1
Dec.
Common (extra)
K Dec.
Preferred (quar.)
IK Nov.
Internat. Smokeless Pow. A Chem., pref.
4
Nov.
Int. Steam Pump, pref. (quar.) (No.46).
IK Nov.
Kansas City Breweries, pref. (quar.)
IK Nov.
Kansas City Stock Yards (quar.)
IK Nov.
Lehigh Coal A Nav. (quar.) (No. 128)
2
Nov.
Massachusetts Gas Cos., common (quar.)
1
Nov.
Massachusetts Gas Cos., pref
2
Dec.
Mexican Light \A Power, Ltd., pref
3 K Nov.
Michigan State Telephone, com. (quar.).
IK Dec.
Preferred (quar.)
IK Nov.
Preferred (quar.)
IK Feb.
Milwaukee A Chicago Breweries, Ltd
1 Kb Nov.
Minneap. Gen.; Elec., com. (qu.) (No. 13)
IK Nov.
Montreal Lt., H. A Pow. (qu.) (No. 38).
IK Nov.
National Lead. pref. (quar.) (No. 76)
IK Dec.
New Central Coal
2
Nov.
North American Co. (quar.)
1K Jan.
North Shore Electric (quar.)
1
Nov.
Pacific Coast Co., common (quar.)
IK Nov.
Common (extra)
1
Nov.
First preferred (quar.)
IK Nov.
Second preferred (quar.)
IK Nov.
Second preferred (extra).
1
Nov.
Pacific Power & Light, pf. (qu.) (No. 1).
IK Nov.
Pennsylvania Steel, preferred
3K Nov.
Peoples Gas Light &Coke (quar.)
IK Nov.
Pope Manufacturing, pref. (quar.)
IK Oct.
Portland Gas A Coke, pref. (qu.) (No. 3).
IK Nov.
Pressed Steel Car. pref. (qu.) (No. 47)
IK Nov.
Procter A Gamble, common (quar.)
:
3
Nov.
Pullman Company (quar.) (No. 175)
2
Nov.
__
’
...
Quaker Oats, preferred (quar.)
Sears, Roebuck & Co., com. (quar.)
Siegel Stores Corp., pref. (quar.)
Sierra Pacific Elec. Co., pf. (qu.) (No.
5)
Silversmiths Company (quar.)
Standard Millljig, pref. (No. 15)
United Bank Note Corp., common (quar.)..
United Cigar Mfrs., common (quar.)
United Dry Goods Cos., com. (quar.)
United Electric Securities, preferred....
United Fruit, extra dividend
U. S. Bobbin A Shuttle, com. (quar.)
Preferred (quar.)
U. S. Envelope, preferred
United States Express (No. 154)
U. S. Motor, pref. (quar.) (No. 3)
U. S. Realty A Improvement
(quar.)
U. S. Rubber, 1st pref. (quar.)
Second preferred (quar.).
”.
U. S. Steel Corp., com. (qu.) (No.
28)
Preferred (quar.) (No. 38)
VirqintOrC nrotina Chem. com.(quar.)
Warwick Iron A Steel
Washington (Dl. C.) Gas Light....
Western Eleetufe (quar.)
VVhlte (J. G.)&€&'., Inc*., pref.
(quar.)..
w
Wbrthington (H. R.) Inc., preferred.
■6<1
l
''
.
'••v
IK
IK
IK
IK
-
Nov.
Nov.
Nov.
Nov.
2
Oct.
1
Nov.
IK Nov.
2
Nov.
$3.50 Nov.
10
Nov.
1
Nov.
IK Nov.
le
Nov.
3
Nov.
IK Nov.
1K Nov.
2
Oct.
IK Oct.
1K Dec.
IK Nov.
IK Nov.
4
Nov.
$1.20 Nov.
2
Nov<
m Nov.
3 K Nov.
Holders of rec. Oct. 20a
Oct. 28
to
Oct. 31
to
Oct. 28
Oct. 31
Oct. 26
to
Oct. 31
to
Oct. 28
Oct. 31
Holders of rec. Oct. 22a
Oct. .8
to
Oct. >1
Holders of rec. Oct. 21a
Holders of rec. Oct. 21a
Holders of rec. Oct 21a
Holders of rec. Oct.28a
Oct. 28
to
Oct. 31
Holders of rec. Oct.31a
Oct. 19
to
Oct. 31
J Oct.
1 Oct.
28 Holders of rec. Oct. 29a
19 Holders of rec. Nov. 14
19 Holders of rec. Nov. 14
29 Oct. 20
to
Oct. 28
15 Holders of rec. Nov. la
1 Oct. 26
to
Nov. 1
1 Oct. 27
to
Nov. 2
1 Oct. 27
to
Nov. 2
1 Oct. 14
to
Oct. 31
1 Oct. 14
to
Oct. 31
1 Oct. 14
to
Oct. 31
2 Oct. 21
to
Nov. 10
1 Oct. 21
to
Nov. !•»
15 Holders of rec. Oct. 31
1 Holders of rec. Nov. 30
1 Oct. 23
to
Nov.
1
15 Holders of rec. Nov. 5a
1 Oct. 28
to
Oct. 31
21
1 Nov. 15
to
Dec.
1
1 Holders of rec. Oct. 15a
15 Holders of rec. Oct.3la
1
16 Nov.
to
Nov. 10
10 Nov.
1
to
Nov. 9
1 Holders of rec. Oct.24a
1 Holders of rec. Oct.24a
1 Oct. 21
to
Nov. 1
1 Oct. 21
to
Oct. 31
15 Holders of rec. Nov.16a
1 Sept. 25
to
Oct.
3
31 Oct. 25
to
Oct. 31
31 Holders of rec. Oct. 15a
15
31 Sept. 29
to
Oct. 19
29 Sept. 29
to
Oct. 19
1 Holders of rec. Oct.20a
1 Holders of rec. Oct. 31a
1 Holders of rec. Oct. 15
1 Oct. 21
to
Oct. 31
1 Holders of rec. Oct.29a
31 Holders of rec. Oct.29a
1 Holders of rec. Nov. 19a
31 Holders of rec. Sept. 30a
31 Holders of rec. Sept. 30a
10 Holders of rec. Nov. 8a
1 Oct. 21
to
Oct 31
1 Holders of rec. Oct. 15
1 Holders of rec. Nov.10a
1 Nov. 12
to
Dec.
1
1 Nov. 12
to
Dec.
1
1 Oct. 14
to
Nov. 1
15 Holders of rec. Nov. 5a
1 Oct. 21
to
Nov. 1
15 Nov.
1
to
Nov. 15
1 Holders of rec. Oct. 15a
30 Holders of rec. Oct. 31
1 Holders of rec. Oct. 15a,
1
1
1
1
15
1
15
15
1
2
1
1
1
1
1
1
1
1
Holders
Nov. 16
Oct. 16
Jan. 15
Nov. 6
Holders
Holders
Nov. 19
Oct. 28
Holders
Oct. 26
Oct. |23
Oct. 23
Oct.
23
Oct.
Oct.
23
23
25
23
Oct.
Oct.
of
rec.
to
to
to
to
of
of
rec.
rec.
to
to
of rec.
to
to
to
to
to
to
to
to
25 Holders of
31 Holders of
rec.
rec.
1 Oct. 23
to
23 Nov. 3
to
15 Holders of rec.
15 Holders of rec
;-t<
15
1
1
15
31
15
1
1
1
4
1
1
10
15
10
1
*•
i>(
rec
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Oct. 26
to
Nov. 2
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Oct. 21
to
Oct. 21
to
Oct. 23
to
1
Nov.
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
31
31
3o Dec.
29 Nov.
2 r
1 i
1.
ov.
6
15 Nov. I
1 Oct. 16
to
to
to
to
to
1 Oct. 26
to
Oct. 15
Dec.
1
Nov.
1
Feb.
1
Nov. 15
Oct.24a
Oet.31a
Nov. 22
Nov. 1
Dec.15a
Oct. 31
Nov.
1
Nov. 1
Nov. 1
Nov. 1
Nov.
1
Oct. 31
Nov. 2
Nov. 3a
Oct.21a
Oct. 31
Nov. 22
Oct.31a
Oct. 31a
<>v
• a
Oct. 31a
Oct. 15a
Oct.21a
Nov. 10
Oct. 31
Nov. 15
Oct. 25a
Oct.25a
Oct.22a
Oct. 24
Nov.
1
Nov.
1
Nov. 10
Nov. 15
Oct. 31
Oct .20a
Oct.15a
Oct. 15a
Dec. 14
Nov. 14
Nov. 15
Nov. 15
Oct. 31
Nov.
jl
1 Holders, of rec. Oct.30a
1 Oct. 21
to
Npv. 1
"
LXXXXI.
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. 22.
The figures for the
separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week
are also given.
For definitions and rules under which the various items
are made
up, see “Chronicle,” V. 85, p. 836.
We omit two ciphers (00) in all cases.
Banks.
Capital.
00s omitted.
2.000.0
2,050,0
2,000.0
6,000.0
1,500,0
1,000,0
....
City
25,000,0
Chemical..
Merchants' Ex.
3,000,0
600.0
1,000,0
300,0
500,0
5.000,0
25,000,0
3,000,0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000.0
Gallatin
Butch. A Drov.
Greenwich
....
Exchange.
Commerce
Mercantile
Pacific
Chatham-
....
People’s
Hanover
Citizens’ Cent..
Nassau
Market A Fult’n
Metropolitan
|
Exchange. 1
2,000,0
..
Corn
Imp. A Traders’
Park
East River....
Fourth
Second
First
Irving Exch
Bowery
N. Y. County..
German-Amer
Chase
3,000,0
1,500.0
6,000.0
250,0
5,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
Germania
Lincoln
Garfield
Fifth
-.--
West Side
Seaboard
N. Y. Prod. Ex.
State
14th Street....
Coal A Iron
Union Excb
...
Actual figures
2.080,9
20,589,9
1,655,0
815,9
1,657,4
689,5
5,000,0
100,0
200,0
200,0
1,000,0
1,000.0
250,0
1,000,0
200,0
7,706,8
1.000.0
Liberty
3.520.3
4,184,5
1,789,6
7,988,0
5,874,2
724,9
31.519,7
6.494.7
582,0
2,533,2
158,0
832,9
4.439.8
16.497.4
2,726,2
913,1
1,059,7
470,3
11,910,1
1,746,7
538,2
1.720,7
1,478,9
5,254,1
7,545,9
12,524,1
108,5
5,624,9
750.0
.
Fifth Avenue..
German Exch..
Metropolis
Loans.
Average.
Bank of N. Y._
Manhattan Co
Merchants’
Mech. A Metals
America
Phenlx
Am.
Surplus.
1,000,0
1.000,0
1.000,0
1,000,0
1.000,0
1*000.0
2,109.4
895,2
1,016,6
1,542,5
1,197,7
499,9
2,078.2
1,019,2
1,960,2
2,771,2
757,1
782,2
320,4
392,1
952,4
' Specie.
Legals.
Average. Average.
19,556,0
3,472,0
33.100,0
8,325,0
19.6y5.0
4.054.0
50,125,5 10.524,0
23.826.9
3.947.9
7,636,0
1,357,0
165,429,9 35,470,3
28.646.5
5,109,5
7,094,8
1,669,1
8,452,4
1,262,2
2,759,2
573,3
7,481,3
1,829,0
33.894,1
6,782,3
142,347.6 24,173.7
14,342,7
1,644,0
3,641,8
404,1
8.107,8
1,114.8
2,026,9
422,8
64.135.2 12,206,4
21,367.0
5,281,5
7,159,9
699.7
8,467,3
1,592,0
12,175,7
3,094.2
41.952.0
7,251,0
25,675,0
4.079.0
78,911,0 20,006,0
1.441.0
305.8
26.297.0
3,934,0
12,744,0
2.966.0
97,991,2 19,736,6
22.553,3
4.933.4
3.487,0
830,0
7,772,5
1,229,1
4,117.9
771,7
73,077,9 15,199,5
13,106,3
2,526.7
3,925,6
566,7
4,716,3
850,1
14,955,5
2.746.9
8,012,4
1,860,3
3.342.7
612.3
11,139,4
1.102,1
4,349,0
983,0
20,639,0
4.720.0
16,858.0
3.698.5
8.361,0
2,257.2
15,068,0
4.471.0
5,951,6
1.148,0
5,855,0
780,0
8,393,0
1,306,6
919,0
1,647,0
1,177,0
1,172.0
2,007.9
278,0
4.760.0
2,024,1
182,0
499,1
80,1
199,0
2,271,4
6.738,1
1,015.1
484.6
1,160,8
124.9
6.733.8
210,7
1,189,5
785,0
246.3
4,888,0
1,763,0
1,213,0
129,9
2.300,0
174,0
1,766,2
1.449.1
65.0
614.5
228.2
5.025.6
1.178.9
500.0
506.6
1.012.2
343.4
366.8
1,573,0
239.0
1,522.0
870.9
259.4
319.0
675.6
690,0
870,0
Deposits.
Average.
Re¬
s’ ve.
17,100,0
38.100,0
20,076,0
46,914,7
23,402,9
25.6
26.1
26.0
24.9
25.4
6.584,0 25.4
149.945.6 26.8
26,632,0 26.9
7.405,3 25.0
6.667.0 26.4
2,315,9 28.1
8,311,0 24.4
31,910,4 25.3
118,915,7 26.0
10,465,5 25.3
3,074,4 28.9
8.614,2 26.4
2.050,8 26.7
71.929,5 26.3
20.698,6 26.7
7,951,7 23.9
8,424,3 28.2
12,751,4 26.2
48.568.0 25.0
22,978,0 25.4
82,064,0 25.8
1,428,1 30.5
24,404.0 25.5
12.430,0 25.2
84,308.2 25.5
23,955,3 26.6
3,640,0 24.3
7,653,9 24.5
3,945,9 25.3
78,572,0 25.7
14,691.7 25.2
4,102,6 26.0
5,370,3 26.2
15,670,7 24.0
8,110,7 27.1
3.579,6 27.3
10.824.2 24.7
4,836,0 25.2
23,918,0 26.0
17,217,8 26.5
10,100,6 24.9
18.600,0 25.7
6,431,6 26.8
6.825,0 25.2
8,208,6 26.5
133,350,0 194,250,3 1232,162,1 244,880,3 66,338.7 1201,675,7 25.9
1231,169.7 243,503,1 67,050,6 1199.931,8 25.9
Oct. 22..
......
On the basis of aver: ges, circulation amounted to $48,127,600 and United 8tates
deposits (Included in deposits) to $1,617,400; actual figures Oct. 22, circulation,
$48,218,800: United States deposits, $1,630,000.
The State
Banking Department also
furnishes weekly
companies under its
charge. These returns cover all the institutions of this class
in the whole 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:
now
returns of the State banks and trust
For definitions and rules under which the various items
made up, see “Chronicle,” V. 86, p. 316.
are
__
'-■38 •"■.Crtt
oi^SumutotadTcRyidMlds**0"^* 6 Le8S lncome tax.
Oct.28a
Oct. 31
Oct. 31
Oct.24a
Oct. 31
Nov. 1
fVoL.
—
.
d Correction,
i
f...
e On account
STATE BANKS AND TRUST COMPANIES.
State Banks
Trust Cos.
State Banks
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y, Greater N. Y.
Week ended Oct. 22.
$
$
Capital as of Aug. 31
25,175,000
65,656,000
Surplus as of Aug. 31
38,315,700
172,728,334
10,891,650
9,817,991
297,539.000 1,041,861,100
—2,156,900
+5,045,300
95,247,500
+ 141,700
138,793,500
+311,100
100.823,400
+ 99,300
145,593,300
+ 1,034,300
Loans and Investments.
_
Change from last week.
Specie
Change from last week.
48,028,800
—1,310,100
116,473,000
—112,100
Legal tenders A bk. notes
Change from last week.
25,020,300
+ 624,600
13,432,000
+ 203,300
8,998,000
9,075,000
Deposits
Change from last week.
342,133,900 1,089,509,700
—3,867,700
+2.182,500
Reserve on deposits
94,017.100
—1,277.400
135,966.600
—351,100
20,546.000
—303,500
20,672,700
+ 283,100
28.1%
28.1%
15.8%
16.0%
21.2%
21.4%
14.9%
14.7%
Change from last week.
P. C. reserve to deposits..
Percentage last week_.
Decrease from last week,
+ Increase over last week.
Note.—"Surplus” Includes all undivided profits. "Reserve on deposits” lncludesTfor both trust companies and State banks, not only cash items, but amounts
due from reserve agents.
Trust companies in New York State are required by
law to keep a reserve proportionate to tbeir deposits, the ratio varying accordln
The percentage of reserve required Is computed o
to location as shown below.
the aggregate of deposits, exclusive of moneys held in trust and not payable within
exclusive
thirty days, and also
of time deposits not payable within 30 days, repre
sented by certificates, and also exclusive of depostls 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
of the State of New York.
fJ
—
_
—Trust Cos.-*-1
Reserve Required for Trust
and Stale Banks.
Location— i
Manhattan Borough
Companies
Brooklyn Borough (without branches In
Other
Total
Reserve
Required
15
„
„
.
-^Sttde Banks—
Total
Of
which Reserve
which
n Ca A.Required. In Cash.
15 c
25 o
15%
Of
Manhai.). 15%
10%
Borqugbs (without branches In Manhattan;. 15%
n BorOugh, with branches in Manhattan.. 16%
oroughs with branches in Manhattan.... 15%
in State
10%
10%
15%
16%
15%
•%
20%
15%
20%
10%
7H%
20 4
15%
•%
O0T 29
THE CHRONICLE
1910.)
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
1139
We omU two ciphers (00) in aU these figure*.
The
(both actual and average) for the Clearinghave combined each corre¬
sponding item in the two statements, thus affording an
aggregate for the whole of the banks and trust companies in
also the results
In addition, we
House banks.
the Greater New York.
Capital
BANKS AND TRUST COMPANIES.
Clear.-House State Banks &
Clear.-House
Banks.
Banks.
ActualFigures
Average.
Week ended Oct. 22.
$
S
s
S
Total of all
Banks & Trust
Cos. Average.
Trust Cos. not
in C.-H. Aver.
Capital as of Aug. 31..
132,350,000 |
132,350,000
74,631,000
206,981,000
Surplus as of Aug. 31..
193.297,900
j
193,297,900
180,661,300
373,959,200
1,133,813,500 2,365.975,600
+5,747,000 —16,155,900
1,231,169,700 1,232,162,100
Change from last week —12,655,700 —21,902,900
Loans and investments
fll,085,812,200'
1,199,931,800 1,201,675,700
Deposits
Change from last week —18,426,700 —25,667,100
+6,289,100
2,287,487,900
—19,378,000
123,054,800
—232,000
367,935,100
—3,216,800
j
'
Specie
Change from last week
243,503.100
—5,085,800
244,880,300
—2,984,800
Legal tenders
Change from last week
67,050,600
—120,400
66,338,700
—49,200
622,142,300
+ 166,000,
88,481,000
+ 116,800
Aggr’te money holdings
Change from last week
310,553,700
—5,206,200
311,219,000
—3,034,000
cl45,197,100
—66,000
456,416,100
—3,100,000
Boston.
Oct.
1—
Oct.
8_.
Oct. 15..
Oct. 22—
Phiia.
Oct.
1
Oct.
8—
Oct. 15—
Oct. 22..
24,246,900
—1,172,400
24,246,900
—1,172,400
480,663,000
—4,272,400
a
S
40.200.0
40,200,0
40,200,0
40.200,0
S
206,192,0
206,477.0
207,466,0
207.413.0
55,465,0
65.465.0
55,465,0
55,465,0
255.799,0
257,355,0
257,856,0
254,305,0
other bks. A trust cos.
Change from last week
Total
reserve.
Change from last week
310.553.700
—5,206,200
311,219,000
—3,034.000
169,444,000
—1,238,400
25.91%
25.92%
25.63%
17.4%
17.6%
Percentage to deposits
requiring reserve
—
Percentage last week.
—
25.95 70
j
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
averages
follows for
a
For week.
1910.
Week
Ended.
Tot. Money
Loans and
Investments.
Deposits.
S
S
Aug. 20— 2.339.911.8 2,326,315,7
Aug. 27.. 2.346.781.2 2.331.878.3
Sept. 3.. 2.348.900.4 2.326.474.5
Sept. 10.. 2.355.593.2 2.320.771.3
Sept. 17.. 2,367.842 r8 2.328.750.6
Sept. 24.. 2.375.411.8 2,329,379,2
Oct.
1.. 2.388.453.3 2,330,077,9
Oct.
8.. 2.387.881.5 2.316.630.7
Oct. 15— 2.382.131.5 2.306.865.9
Oct. 22.. 2.365.975.6 2.287.487.9
Specie.
s
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
367.935,1
Holdings,
Legals.
S
90.699.2
91.463.2
89,655,0
88.124.7
88,597,9
88,911.4
89.226.2
87.948.8
88.364.2
88,481,0
Entire Res.
on
S
512,546,6
512.484.5
502.336.1
489.173.2
485,829,9
481.449.6
471,497,4
462.147.6
459.516.1
456.416.1
Deposit.
S
539.637.8
537.996.1
528.336.2
516.45’, .2
513.289.9
508.147.8
497.810.3
489.103.9
484.935.4
480,663,0
We omit two ciphers (00)
Banks.
Capi¬
Sur¬
tal.
plus.
in all these figures.
Loans,
Legal
Disc’ts
and
Invest¬
Tender
and
Bank
Specie.
Notes.
ments.
Century
Colonial
Columbia
...
Fidelity
Jefferson...
Mt. Morris.
Mutual
Plaza
23d Ward..
Yorkvllle..
New Neth'd
Batt.Pk.Nat
Aetna Nat.
Borough of
Brooklyn.
Broadway
.
Mfrs.’ Nat.
Mechanics’
Nassau Nat.
Nat. City..
North Side.
First Nat..
S
100,0
250,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
100,0
200,0
200,0
300,0
200,0
252,0
1,000,0
750,0
300,0
200,0
300,0
Jersey City.
First Nat..
Hud.Co. Nat
Third Nat..
Hoboken.
First Nat..
Second Nat.
Net
Clear¬
Other
ing
Agent.
Banks, Deposits.
160,501,8
139,370,6
160.592,5
$3,016,468
12,948,217
$2,605,995
11,698,111
$3,142,362
14,674,160
S15,326,687
$15,964,685
$14,304,106
$17,816,522
General merchandise
Total
Since January 1.
S127,360,995 $136,175,072
614,780,826 560,989,062
Dry goods
1907.
1908.
$99,087,759 $152,529,228
407,003.523 552,952,070
$742,141,821jS697,164,134 $506,091,282( $705,481.298
Total 42 weeks..
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 22 and from Jan. 1 to date:
The
EXPORTS FROM NEW YORK FOR THE WEEK.
14,380,018
478.506.820
17,076,695
524,710,108
1907.
1908.
1909.
13,136,786
11,505,719
506,108,397
507,132,557
$541,786,803 $492,886,838 $517,614,116 $520,269,343
Total 42 weeks
The following table shows the exports and imports of
specie at the port of New York for the week ending Oct. 22
and since Jan. 1 1910, and for the corresponding periods in
1909 and 1908:
IMPORTS
AND
EXPORTS
SPECIE
OF
AT NEW YORK.
Imports.
Exports.
Gold.
Week.
SinceJan. 1.
SinceJan. 1.
$15,345
$13,469,736
3,482.045
38,490
2,782
14,206
78,350
497,823
238,965
1,914,963
1,224,931
$32,150,000
*
314
4,455
$200
West Indies
Mexico
South America
All other countries
3,291,117
•
9,368,766
41,900
$200 $44,856,238
220,000 75,324,692
47,647,925
Total 1910
Total 1909
Total 1908
$149,173 $20,828,777
114,676
7,399,590
493,354 15,011,888
Silver.
Germany
_
$13,344
$388,657 $32,114,758
109,400
1,946,700
558,008
720
69,257
Great Britain
France
_
West Indies
Mexico
47,825
6,505
1,315
14,072
8,568
60,452
1,635
13,125
71,241
1,350,397
1,134,291
1,241,684
$498,777 $34,743,053
601,913 36,901,324
949,727 34,768,151
$84,487
42,217
71,100
$3,825,617
3,999,384
3,146.108
$80
•
Ronth America
Total 1910
Total 1909
Total 1908
Of the above imports for the
American gold coin and $390
the exports during the same
gold coin and
were
week in 1910, $38,520 were
American silver coin. ; Of
time, $200 were American
American silver coin.
<kc.
S
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
S
1,297,0
1,338,2
5,674,5
6,029,0
1,089,8
3,107,0
2,581,1
3,523,1
4,544,0
1,886,9
4,162,3
2,286,0
1,536.1
2,128,5
513,3 3,321,9
831,9 5,564,5
815,4 11,708,9
1,010,4 6,854,0
601,8 3,792,0
139,0 2,232,4
611,0 3,420,0
S
60,2
158,4
556,2
574,0
88,4
316,8
30,0
596,3
424,0
49,4
760,5
91,0
41,0
40,7
S
172,0
59,3
762,4
969,0
123,5
267,0
337,4
417,6
828,0
227,8
253,4
200.0
88,0
40,9
481,8
27,9
231,3
476.0
339,6 1,235,5
303,0
603,0
590,0
97,0
101,2
132,6
80,0
334,0
411,2
1,320,6
1,035,0
744,0
231,7
376,0
S
141,5
20,4
817,3
612,0
88,7
156,6
488,0
37,8
323,0
161,8
30,3
575,0
215,2
471,3
S
16,7
183,7
247,4
79,0
373,4
134,8
5,3
260,3
25,0
......
25,8
S
1,316,0
1,264,3
7,380,3
7,132,0
1.132,9
3,532,0
3,354,0
4,085,4
5,407,0
2,045,0
5,336,4
2,470,0
1,328,8
244,5 3,904,3
173,4 6,065,5
236,6 14,718,9
6,965,0
160,0 5,015,0
110,2 2,549,4
38,0 3,102,0
770.5
......
394,5
5,270,6
3,095,1
2,079,7
274,5
142,2
63,2
338,1
48,8
132,4
2,407,6
314,1
423,7
144,0
144,8
15,2
6,782,1
2,745,9
2.315.7
623,3
245,9
3,184,4
2,799,4
146,1
105,2
29,0
86,7
160,0
51,8
177,4
196,1
2,979,9
3,020,6
400,0
1,251,8
250,0
200,0
220,0
125,0
751.9
Railroad and Industrial Stocks
Let us send you our circular
road and Industrial Stocks.
describing 110 ISSUES of listed Rail¬
Spencer Trask & Go,
EXCHANGE PLACE. - - - NEW YORK.
Chicago. Ill..
Albany, N.
Boston. Mass..
43
Members New
Y.
York Stock Exchange
2,051,4
1*
Tot. Oct. 22 7,497,0 12,469,2 94,506,4 6,600,2 7,444.7 12,992,5 2,991,6 107999.8
Tot. Oct. 15 7,497,0 12,469,2 93,945,8 6,366,1 7,730,2 12,526,1 3,260,5 107630,4
Tot. Oct. 8 7,497,0 12,469,2 94,894,7 6.317,9 7,471,6 15,528,6 3,365,1 111327,1
i
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
135,603,9
304,626,0 16,384,0
308,493,0 16,366,0
305,620,0 15,902,0
Ranking and financial.
N. Y. City
Boroughs of
Man.dk Brx.
Wash. Hgts
Deposit with
194,487.6
S2,688,744
12,637,943
Dry goods..
All other countries
Reports of Clearing Non-Member Banks.—The following
is the statement of condition of the clearing non-member
banks for the week ending October 22, based on average
daily results:
139,329,0
169.377.6
165,194,1
305,050.0,16,439,0
1909.
Germany
i
$
7,991,0
8,024,0
8,029,0
8,001,0
FOREIGN IMPORTS AT NEW YORK.
Great Britain
France
In all these figures.
S
S
250,395.0
250.143.0
258,236,0
255,582,0
72,795,0
70,334,0
71,582,0
71,553,0
Clearings.
Imports and Exports for the Week.—The following are
New York for the week ending Oct. 22; also
beginning of the first week in January.
series of weeks past:
We omit two ciphers
22,184.0
22,688.0
23,937,0
Week.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
Circu¬
lation.
a
the imports at
totals since the
Previously reported.
+ Increase over last week.
—Decrease from last week.
a 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 Si.204,0. 2,500. an increase of Si ,9dl ,000 over last week. In
the case of the Clearing-House banks, the deposits are “net” both for the average
and the actual figures.
6 Includes bank notes, c Of this amount State banks held
S15,202,1OO and trust companies $129,905,000.
The
S
6,696,0
4.554.0
4,815,0
5,416,0
S
22,870.0
1910.
10,800,705
Deposits,
Including Government deposits and the Item "due to other banks.” At Boston
22, against S3.051.000 on
For the week
10,570,075
Surplus reserve
Legals.
Government deposits amounted to S3,044,000 on Oct.
Oct. 15.
General merchandise
Money on deposit with
Specie.
Surplus.
—
NEW YORK CITY
Loans.
and
Banks.
WHITE, WELD &
CO.
Members New York Stock Exchange.
5 NASSAU
THE ROOKERY.
CHICAGO
STREET,
NEW YORK
BANKING and EXCHANGE of every
EXPORTS &
description In connection with
IMPORTS
International Banking Corporation
60 Wall St.. New
CAPITAL & SURPLUS. $6,600,000
York.
BRANCHES and
AGENCIES throughout the
WORLD.
THE INTERNATIONAL BANK
Organized under the laws of
N. Y. State.
60 Wall Si.. New York.
Interest paid on Term Deposits.
THOMAS H. HUBBARD. President.
:
Accounts Invited.
"
;
THE CHRONICLE
Wall Street, Friday Night,-Oct. 28 1910.
The Money Market and Financial Situation.—Events of
minor importance only have transpired this week so far as
the effect in Wall Street is seen.
Politics and the interna¬
tional aviation tournament have absorbed /a good deal of
attention, but, as may readily be imagined, neither has
affected the security markets or prices to any appreciable
extent.
Money market conditions may have had a more of less
deterrent influence, inasmuch as the demand for funds from
the West and South has increased and the financial situation
abroad shows no tendency to easier conditions.
This increased demand from the agricultural sections
seems to indicate that grain and cotton are
being withheld
from the market in anticipation of better prices and that
local banks are assisting in the operation.
We do not pro¬
pose to discuss the merits of such a course, but would simply
call attention to a well-known fact, namely that
borrowing
(Voi.
LXXXXI.
40c. per $1,000 premium.
New Orleans, commercial, 75c.
@$1 per $1,000 discount; bank, $1 per $1,000 premium.
St. Louis, 20c. per $1,000 discount.
Savannah, buying
3-1 fie.
discount; selling par. Charleston, buying par;
selling I-lOc. premium. St. Paul, 35c. per $1,000 premium.
Montreal, 46%c. per $1,000 discount.
State and Railroad Bonds.—Sales of State bonds at the
Board include $15,000
Virginia 6s deferred trust receipts at
41 and $5,000 New York 4s at
105%.
The market for railway and industrial bonds has been less
active, and again a few issues have been conspicuous in the
daily transactions.' Among the latter are Third Ave.,
Wabash and Wabash
Pittsburgh Terminals, the last two of
which are between 2 and 3
points higher than last week.
Third Avenues are up over a
point, but the general tendency
has been toward lower
quotations, and a large part of the
active list is fractionally lower.
Atchison conv. 4s have
also been notably active, and are
fractionally lower.
United States Bonds.—No sales of Government bonds
have been reported at the Board this week. The
following
daily closing quotations; for yearly range see third page
frequently proved disastrous in the past, and that the ten¬ following.
dency of history to repeat itself is still in force. Moreover,
Interest
Oct.
Oct.
Oct.
the fact is demonstrated that speculation is not confined to
Oct.
Oct.
Oct.
Periods
22
24
25
26
27
28
stock and cotton exchanges or boards of trade.
The Bank of England’s weekly statement makes a some¬ 28, 1930
registered Q—Jan •100*4 *100)4 *100*4 *100)4 *100)4 *100)4
2s, 1930
coupon Q—Jan •100*4 *100)4 *100H *100)4 *100)4 *100)4
what better showing than had been looked for in view of the 3s, 1908-18
..registered Q—Feb •101X *101)4 *101)4 *101)4 *101)4 *101H
amount of gold which has been shipped from London, but
3s, 1908-18
coupon Q—Feb *101H *101H *101)4 *101H *101)4 *101)4
4s, 1925
registered Q—Feb *115
*115
i*115
*115
*115
•115
the Bank of France, which has also been sending gold to 4s,
1925
coupon Q—Feb *115)4 *115H!*115M *115)4 *115)4 *115)4
2s,
1936.Panama
Canal
regia
Q—Feb
Egypt, reports a smaller gold reserve, and the financial situ¬
*100)4 *100)4 ,*100)4 100)4 *100)4 *100)4
2s, 1938.Panama Canal regis Q—Nov ♦100)4 *100)4 *100)4 *100)4 *100)4
ation abroad, as a whole, has not materially changed.
•100)4
The
local money market is firmer, for time loans
especially, and
This is the prise bid at the morning board; no sale was made.
it is evident that if the demand referred to above continues,
Railroad
and Miscellaneous Stocks.—The volume of busi¬
the surplus reserve will be further reduced.
ness in shares has been smaller than of late.
The open market rates for call loans at the Stoek Exchange
Saturday’s
market was strong, after which the trend of
was
prices
during the week on stock and bond collaterals have ranged
steadily downward until Thursday, when a reaction of from
from
2%^ to 4%. To-day’s rates on call were 3@3%%. 1 to 2 points in practically the entire list took place. The
Commercial paper quoted at 5%@6% for 60 to 90-day
latter movement was led by United States Steel and Union
endorsements, 5%@6% for prime 4 to 6 months’ single
Pacific, both of which sold 3 points higher than on Wednes¬
names and 6%@6%% for
good single names.
day t To-day’s market has been decidedly irregular, and
The Bank of England weekly statement on
Thursday the result of the week’s operations is that of a list of 30
showed a decrease in bullion of £647,017 and the
percentage active issues 10 are higher and 20
lower.
of reserve to liabilities was 4fi.ll, against 46.49 last week.
Among the exceptional features are Great Northern, St.
The rate of discount remains unchanged at 5% as fixed
Paul and International Harvester.
The latter, when at its
Oct. 20.
The Bank of France shows a decrease of 17,575,000
lowest,
was 4 points below last week’s closing price.
francs gold and 4,725,000 francs silver.
St.
Paul closes 2% points lower and Great Northern 1%.
NEW YORK CITY CLEARING-HOUSE BANKS.
On
the other hand, Smelting A Refining has been strong on
new financial
1910.
1909.
1908.
plans and closes 2% points higher than last
Averages for
Differences
Averages for Averages for
week.
Baltimore A Ohio, Canadian Pacific, American Tel.
leeek ending
week ending
from
week ending
& Tel., General Electric and United States Steel
Oct. 22.
previous week.
Oct. 23.
are
Oct. 24.
to
2
generally
from
1
points
An
in
the
higher.
advance
3
$
S
3
money to carry agricultural products for higher prices has
are
the
•
'
rViyvi+ol
132,350,000
127,350.000 126,350,000
Surplus,
193,297,900
177,371,800
163.720.100
Loans and discounts... 1,232,162,100 Dec. 21,902,900 1,234,696,700 1,338,426,900
Circulation
48,127,600 Inc.
9,800
52,614,000
53.195.900
Net deposits
1,201.675,700 Dec. 25,667,100 1,240,417,100 1,418.132,400
U. S. dep. (incl. above)
Dec.
1,617,400
7,800
1,669,200
9,248,200
Specie
244,880,300 Dec. 2,984,800 255.685.100 306,290,200
Legal tenders
66,338,700 Dec.
49,200
71,063.000
81.122.900
Reserve held.,
25% of deposits
Surplus
reserve
Surplus, exel. U. S. dep
dividend
rate
of
STOCKS.
Sales
Week-ending Oct. 28.
for
Week.
311.219,000 Dec.
300,418,925 Dec.
3,034,000
6,416,775
10,800,075 Inc.
3,382,775
16,643,825
32,880,000
Am Brake Shoe & Form.
Buff Rochester A Pitts..
11.204,425 Inc.
3,380,825
17,061,125
35,192,050
Cent * Bo Amer Teleg..
Col A Hock CoalAI tr rets
General Chemical, pref.
Lackawanna Steel
326.748.100
310,104,275
387.413.100
354.533.100
Note.—The Clearing House now Issues a statement weekly
showing the actual
condition of the banks on Saturday morning as wen 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.
Consolidated
Gas
to
seems
have
been
discounted, as the stock closes with a fractional net loss.
For daily volume of business see paae 1150.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
Rutland, pref
St
Joseph!A Grand Isld.
Seara, Roebuck A Co...
United
Cigarjtftts, pref.
Range for Week.
Lowest.
275 84)4
200 104
20 118)4
5
860
19 103
325 39)4
■
’ Highest.
Oct 24 85
Oct 24 105
OW 26
Oct 28
Range since Jan. 1.
Lowest.
83)4
95
Oct 24 118)4 Oct 24 110
Oct 28
4
6)4 Oct 27
Oct 24 103
Oct 24 101)4
Oct 27 34
Oct 22 40
400 38)4 Oct 27 39)4 Oct 28 28
100 18
Oct 26 18
Oct 26' 18
150 168)4 Oct 25 168)4 Oct 25 150
100 100)4 Oct 25 100)4 Oct 25 100
Highest.
Oct 90)4 June
Jan
May 106
Jan
Aug 120
Sept
6)4 Oct
June 107
Mch
Oct 45
Feb 39 H
June 20
June 171)4
May
Sept 109)4
Oct
Apr
Oct
Feb
Foreign Exchange.—After moderate weakness during the
greater part of the week, a sharp break occurred yesterday,
Outside Market.—Business in mining stocks on the “curb”
demand selling at as low as 4 8634Discounts were easier this week shows a
falling off, the reactionary movement
in London, while money became firmer here.
last week having continued. With the exception of
begun
To-day’s (Friday’s) nominal rates for sterling exchange Thursday, when the market reflected the
strength on the
were 4 83% for sixty day and 4 87 for
sight. To-day’s Exchange, prices moved downward, though recessions were
actual rates for sterling exchange were 4 8230 @4 8240 for
British Columbia Copper weakened from 7% to 6%
sixty days, 4 8615@4 8625 for checks and 4 8675@4 8685 slight.
and recovered to 7 finally.
Chino Copper lost about 2%
for cables.
Commercial on banks 4 81 %@4 82 and docu¬
points to 20%, moved up to 21% and closed to-day at 20%.
ments for payment 4 82%@4 82%.
Cotton for payment Giroux after an early advance from 7 15-lfi to 8 fell to 7 7-16.
4 81%@4 82 and grain for payment 4 82%@4 82%.
Greene Cananea rose from 7% to 7% and reacted to 6%.
To-day’s (Friday’s) actual rates for Paris bankers’ francs It moved back
again to 7%, finishing to-day at 7%. In¬
were 5 21%@5
21% less 1-16 for long and 5 19% less 3-32@ spiration Copper lost about
to 8%, ran up to 9% and
5 19% less 1-16 for short.
Germany’ bankers marks were ended the week at 9%. ajpoint
Miami
Copper
sank from 20 to
94%@94% for long and 95 less 1-32@95 for short. Amster¬
18%, sold back to 20, and closed to-day at 19%. A loss of a
dam bankers’ guilders were 40 23@40 25 for short.
point in
Exchange at Paris on London, 25f. 28 %c.; week’s range, to 21, Ray Consolidated to 20% was partly offset by a gain
though it finished to-day at 20%. Greater interest
25f. 29%e. high and 2Sf. 27r%C. low.
was taken in the Cobalt issues, La Rose Consolidated being
Exchange at Berlin on London, 20m. 48% pf.; week’s especially
prominent. The price advanced from 4% to
range, 20m. 49% pf. high and 20m. 47%pf. low.
5 1-16 but dropped back to 4%, with the final figure to-day
The range of foreign exchange for the week follows:
at 4 13-16.
Nipissing was active and fluctuated between 11
Sterling—
Cables.
Sixty Days.
Cheques.
and tl 7-16, the close to-day being at 11%.
High for the week
4 83
68680
4 8740
Kerr Lake
Low for the week
4 82*4
4 8615
4 8665
went up from 6% to 6 11-16 and down to 6%,
Industrial
Paris Bankers’ Franes—
High tot the week
S 21J4
securities, in contrast to mining issues, were strong. Ameri¬
5 18 H toss 8-32 6 18H km 1-3*
Low for the week.
5 22*4,
5 20
919H leas 1-32
can Tobacco advanced 6 points to 430 and to-day sold at
Germany Bankers Marks—
428and429. Inter-continental Rubber rose from 26% to 27%
High for the week
94 7-16
1-32
Low for the week
and ends the week at 27. Standard 02 reacted from Oil to
94)4
Amsterdam Bankers' Outlders—
High for the week
000%, sold tip to 612 and to-day at 611. United Cigar
4036
40
*
40 30
Low for the week..**.
...39 96
40 17
Mfrs. common lost about 3% points to 59%, but recovered
40 21
The following are the rates for domestic
exchange at the fifiaffy to 61. In bond Western Pacific 5s fell hem $4%
undermentioned cities at the elose of the week: Chicago,
20c. per $1,000 premium.
Outside quotations will be found on page 1150.
Boston, par. San Francisco,
....
....
J-
*
’
•
«
y
New York Stock
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
Sales of
the
Week
Oct. 22
Oct. 24
Od. 25
Oct. 26
Od. 27
Od. 28
Shares.
STOCKS—HIGHEST AND LOWEST SALE PRICES.
*65
*89
78%
77*4 79*2
1967« 108*4
*65
68*2
197%
*65
*273
*275
83*4
82*8
*30
*35
*——
*....•
24*4
24*4
*49
*49
127*4
126*2 128*4
150
150*4
14912 150
*150
*149*4
*203
*140
*150
*3
*203
67g
*74*2
*74*2
*99
60
*75
*73
170
6*8
*73
75
60*4
75*2
170*2
*497*2 600
3312 34*4
*75
77*2
170
*497*2
34*2
*76
*53
*53
65*2
65*2
2312
3%
8
77
110
*275
285
82%
83%
45
*
24*4
*203
*143
*160
*3
*6
*7412
*99
*90
1047s
102%
118
109%
91
77*4
198
*65
♦275
78*8
198*2
68*2
285
82%
*30
83%
43
148
f*143
170
*160
*3
*8
3%
8%
76%
60
♦50
60
14
24
*12*2
24
29%
30*8
48%
49%
38
37%
127
127*2
58%
69%
14*2 *13%
*88*2
94*2 *
88
Range Since January
NEW YORK STOCK
EXCHANGE
On oasis
*
48% Feb
90% J’ly
x97
J’ly
102*2 J’ly
3C0% Seu
.
39,200 :>tch Topelca
Do pfef
2,010
A Santa Ft
150
180
3*2
8
73% 74*2
*99
110
607s
76%
*74
6078
76%
75
BaHImore A Ohio
100
•50
60
*35
*75
33
19%
34%
77*;
*75
33*
32*4
*65*2
•65*2
67
*18
*42
*64
20
*88*4
35*4
*66
63
64
144
32
55
220
Do pref..
Detroit United
Duluth So Shore 61 Atlan
Do pref
1,000
......
151
147*2
89
*88
35*2
34%
68
*65*2
*106*4
*88*4
*153*2
*88*4
♦153*2
149%
42%
43
99
•105
115
121%
110
132
*95
*105
*90
*105
115
153% 155%
93
157
149%
*105
108
*90
110
115
*105
*108
89
*87
*87
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Jan
5
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Jan
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80
Feb 18
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25% Jan 5
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Nov
28
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65*8 Mch
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74% Jan 5
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139
71
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8
Oct
8
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55% May 4
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Do 1st prof.......... HOI J’iy 8 109% Jan 21
98 Jan 10
82% Apr 28
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9
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116 Mch 1
172% Feb 18
98% Feb 17
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57*4 Jah 3
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Feb
86
May
84*? Jan
200 ‘ May
680
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21
Jan
36*2 Jaa
39
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66% Aug
46
Aug
157%
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Dec
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162%
Amf
63%
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36
62
82
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86% Deo
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16
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65
90
149%
164%
Jan
Jan
J«a j
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Den
Dot
78*5 Got
77% A«*
142
Deo
64
Dec
26% May
147% Aug
69
Nov
loo
Feb
95 Nov
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BANKS ANi> TRUST COMFANI£8^ailOKBR3> QUOTATIONS,
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167
Aug
Ailg
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Jan
.
8T
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80*2 Jan
Aug
Aug
Mch
Apr
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113
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8“
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1*1
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148
.
171% 178%
_
Mch
Jan
Mch
165*8 Sep
....
118*21
25*2 26
59% 597ft
27% 27%
12% 137ft
*7% 8%
26% 27%
59*2 59%
26
42
Feb
14%
Jan
Apr
82^8 J’oe
18938 OCt
7014 Nov
St L A San Fr, 1st pref..
42%
30
*29
*68
69
8*2
274
“
65
120% 117%
11*4 11%
*7
*
42%
42%
119*2 120%
26*2 26%
32% 34%
65 ^
33%
64*2
Jan
J ly
9>i
¥W*S
997ft Deo
OetV5
110*4 e-p
J’ly
130%
2d
*p
173%
*85 Aug 24
96 ^Ug
2d pref—
87 J’ly 26
90 Feb 417%
45.545 Rock island Company...
22% J’JY 26
81 Deo
207ft Feb
Do pref
3,200
......
:
54 J’ly 27
67% Feb
94% Dec
200
58 Augll
73 Jan
65*4 Mch
74 pen
Do 2d pref
2.835
60 Jan
34% Aug 8
36 Feb
60% Sep
St Louis Southwestern...
J*n
18*2 JTF 86
20% Feb
36% Den
100
Do pref—.—
51% J ’ly 26
77*2 Jan
82
Dee
47% Jan
91.100 Southern Pacific Co
103% J’ly 26 x 138*4 Jan
114% Feb
139*8 AUK
4.600 Southern v tr cfs stmpd.
18
J’ly 26
22
Feb
33% Jan
54 Aug
Do pref
1.600
75 Jan
do
43 J’ly 26
60 Jan
76% Den
900 ff'exas A Pacific.
36% Jan
30 Feb
...
£2% J'ly 26
40% Aug
21.000 ■.hind Avenue (N Y)
6%J’a6 1
19% Jan
12% Dec
4212 Jan
200 Toledo Railways A Light
16% Jan 12
7
Mag
5%J’*y 6
>5% Jan
2.050 Toledo St L A Western..
19 J’ly 26
43
Feb
$4% Jan 4
64%^
1.300
42% J’ly 26
72*4 Jan
64% Feb
74% <
Twin
103 J’ly 26 117% Jan
97
Jan
116*4
iioion Pacific-....—. 155% J’ly 26 304% Jan
219
172%
Feb
d
Do pref—
*94
Meh 118%
88% J’ly 26 103% Jah
Unit Rys Inv’t of San Fr
42*4 Jan 31
30 Feb
*3% J'D930
47 ‘
47
J'b63v
72% Jan 8
3
12%
J’ly
2J
27%
Jan
*h6?h
do pm—...—.
61 Jan 8
Feb
28% J’ly 2f
West Mxrylandl^y..——
*0
J’ly 26
54%Mch 12
115
89
175*8
Sen 21
J’ly 2t
41
.
•87
Feb
158*2 Mch
141
* J’neac
125
41.850 Pennsylvania
700 Pitt' b an Chic A St L—
125
Do pref.............
507,550
150% 153%
155% 152*4
18%
34%
34%
52%
122>4
373^ Dec
64% Deo
58-%
51
Hen 4
Jan b
Jan 3
Mch 21
Jan 3
Jan 3
Jan 27
J’ne
143% Aug
Dec
70 Nov
31*2 Dec
66% Feb ?6
66
Feb
100%
823*? gep
yi i4 Deo
74% Apr
781 o Mch
100
52
84
Jau
A25%<5c?
Jan
577* Feb
Jan 16
185
G20
Mch
133*5
131 131%
97% 97**
110
12% J an 4
92% Mch 18
83
81
25
149 Apr 28 162 Mch 14 1154 Nov 174% |>*e
subscript ion receipts r.. 4143 Jneio 5151 Mobil *147%
ftl49% Dec
50
1.750 N Y Ontario A Western.
Jan 5
33% Aug 2
42*4 Feb
55% J’ne
3,600 Norfolk A Western.....
88% J’lF 26 108% Mch21
84% Jan 102 Doc
Do adJustitfent prof—
200
88 Feb 2
91*4 Meh 10
85% Men
92*2 J IF
21,650 Northern Pacific—...
111% Aug 3 145% Jan 8
Feb 159*2 Aug
366 pacific Coast Co.*.—
100 Oct 13 118% Jan 12
76 Mch 116*2 Dee
t
Do 1st pref...
100 Mch $106 S«P
Do 2d pie*—.—. loT'FcbH 118 Jan 3
88 Mch 115 pec
42%
*93
34*4
67*2
61%
42%
*29
N
700
98
98*2
*85% 9012
118% 119*?
89*2
119*2
132% 131%
98
98%
*108
68
*106 %110
149*i
108
60
Jan
40
...
In at Rys of Mex 1st pref
<
52.675 N Y Central A Hudson..
436 N Y Chlo A St Louis....
117*2 1*61*
116
*64
117
120
106
*90
800
6,300
32*2 32%
Aug 2
J’ly 2c
Aug 2
144
*8b%
27
57
6.150 Missouri Padinc....
137 Vfash Chaft A St Louis.
55
138
72
*70
32%
66% 67
*106*4 110
*88% 93
*152 155
*149 149%
43*2 43%
69
54*2
188
.
30
J’ly 26
123
23
Do pref....—
Do leased line etts.
Mo
Kansas A Texas.
3,059
Do pref.............
310
_
104
yv's
100% Jan
1071* Jan
103N Feb
il
Nov
07
Jan
Mch
rl05
'55g
06% Jan
Apr
36% Jan
04% Jan 10
158% Jan
172*4 Jan
182*2 Jan ;
Jan
Mch
oo»4
69
225
20
215
J’D«30
—
Do pref—4.1—.
'
15
J’ne3L
Oct 1
60
J’iy 1
131** J’iy 20
Minn St P A S S Marie...
134
150
89
J;}Y 26
15
iuLinneapolls A St Louis
.
Sep 28
J'ly 25
Sep 14
J’ly 16
J’ly 17
Aug 1
39
Louisville A Nashville...
Vi anhattan Elevated
Jah
Jan
Jan
25*2 Jan 11
23
Ldng Island........
199*2 Oct IS
70
312
92
Highest
"
_
J;iy 2b
58
54
♦63
*135
*70
71*21
41%
63% *62%
Mch
72*2 Mch
124*8 Jan
lu4% Jan lo
137*2 Jan
119% Jan
94 Jan
14%
25
68
LakeDoErie
A WesternIII
pref...........
Year (1909)
Lowest
162*2 Feb 21
Apr 25 5170% Feb 18
May24
5% Jan 4
41% J’ly 26
400
*18
*41
34*2 35%,
8
140
pref
800 ILihois Central........
52,210 interboro-MetropolItan .
Do pref..
72,500
1,950 Iowa Central
14512
141% 142*2 141%
*29*2 32
^—
54
184
*148
•88
J ue2v
Apr 2b
45 J’iy t»
11
Aug 10
gguJau
94% Jan 25
102 May l
36 Feb 7
124 J*ly 26
cfs**prt5
32%
66%
J'ly 26
J iy 26
23% J’IY 26
62% J ly 26
45 J’iy 11
10 J'Jy 1
17
j’ly 16
n% J,{y 26
35
j iy -7
26% j;iy 27
118 J’lyie
Denver 6s Rio Grande—
Do n|*g^
700
20 IT C Ft S A Mtr
3,900 IVansas atv Southern..
*34
*75
40
*7.656
—
132%
22
J'iy lit
203
140
14% *12% 14*2
23*2 24*2
24%
29*2 30% 13,950 L^rie
301s
49
Do 1st pref....
4,300 *-*
49% 50
38
*37
500
387s
Do 2d pref..
127% 127% 127% 10,320 Great Northern pref.....
Iron Ore properties...
6,900
57% 5778
59%
Green Bay 6s W, deb ctfB
14% *13*2 14*2
TTavana Electric..
96
*88% 96
11 Da pfef.
94*2
94% *_
140
125
125
100 tiock la- Valley
.......
131% 132*2
22% 23%
58%
19%
19
250
Do pref
f 100
100 Chic Un Trac ctfs stmpd
2U
100
Do pref ctfs stmpd....
47.
300 Cleve an Chic 6s St L-—
70
Do pref
99
Colorado 6s Southern
46
Do
I
t
1,450
70
preferred
Do 2d preferred
70
*2*800 I Delaware 6s Hudson... 149%
A/e'aware Lack A West. 490
145*2 146
*50
131
55*2 56
*135
*70
$75
32%
*65*2
*17%
41%
146*2
142*2
*29*2
131% 131%
*145
*34
*18
*42
49
68
147*2 147*2
*143
*30
*50
22% 23
(8*4 60
19% 19%
60
36
133
*131
131% 131%
23*2 22%
1
113% J'neju
143
S«P 1
137% J 17 ‘-6
590 Chic St P Minn A Omaha
*5*600
36
2^
26
2G
6
87*4 SeP *0
68% Feb V
I7O 0 Feb 8
60% JTy 2(
248 ■ J’ly 26
65
Aug 2
234 J’ly k6
64% J’neiv
1,430 Atlantic Coast Line RR-.
4,700
100
Do pref
...
30,755 Brooklyn Rapid Trans’t9,496 / Canadian Pacific.
V'anada Southern...
Central of New Jersey
24,680 Chesapeake A Ohio
Range for Precious
Highest
Feb
25
AnnDo
Arbor
pref .......
t.
of 100-*5are lots
lowest
Do
*181*2 133*2
22*4 22%
58*4 59*4
20*8 20*8
^
PAGES
...
168*2 169% 169% 169% 169%
600 *497*2 600
*497*2 600
32% 34
32% 33%
33%
76
76
77
76*2 *75
128%
59%
14*2
■ /
,
....
77
75
*74
75
14%
k
Chicago A Alton RR
Do pref..
65*2
24*2 '2‘306 Jhlc Gt Wes; trust ctfs_.
*47
100
Do pref trust ctfs
49
48%
126% 125 126% 47,550 Chicago M'lw A St Paul..
550
Do
149*2
149% *148*2
pref....
....
4,825 Chicago A North Western
149% 149% 150%
*203
210
200
210
Do pref
110
*76
76%
24*2
29%
49%
TWO
65% *
24% *23*2
60% 61%
61*2
76
60
*12*2 14%
25*4 25*(
29*8 30*2
49*2 50*8
38*8 38*4
128*2 129%
59*2 59*8
*13*2 15
*88*2
94*2 *94*2
77*4 77%
198*4 199%
*85
68%
*148*2
170
33%
60
91
*48*2
126% 125%
1497s *14812
145
35
70
104%
101%
117*2
108% 108%
*35
149
210
*25
*65
102
118
49
149%
3*?
110
39
35
205
145
165
3
8
77
110
60
77
75
170
600
77
*99
*60
75
83%
150
165
*3
*0
83%
48%
126%
142*4
140
1*150
285
24%
210
102
118
108
*90
77%
68*2
65
25
50
104% 104%
198%
68%
285
ISi
45
104%
101%
117
108
91
108%
91
78%
197*2
91
*$8
35
70
*25
*65
70
104*8
101%
118*4
103*8 104*8
101*2 102*4
118*2 119
108*8 108*8
104%
101*4
119*2
108*2
^
Railroad*
35
35
70
36
70
*25
*65
i-
<
Exchange—Stock Record, Daily, Weekly and Yearly
OCCUPYING
*25
'
^
.
«
.
1149
New York Stock
Record—Concluded—Page 2
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
Mondai
Oct. 22
Tuesday
Oct.
We
STOCKS
Thursday
Oct. 25
Oct. 27
Lowest
10
33
71
♦371*
2.000 Amer
Ho
83
: *93
71
94
9
Tt
64*8
65
9
871#
94
*245’
285 *245
2
6
4%
241J
23*8
*4%
*23
21
♦12
21M
13
*3212
41
41
106
*5%
34%
6
34-’
3734
77*4
87i
81J
105
2034
*23
20
*5
*83
40U
*104
*5
!__
873<
8OI4
*105l2
873,
«23g
1071?
320
*240
101
101
*240
*100
49
*5
“
6
34*4
*87
7712 79
10514 105*4}
101
300
101
4812 4814 §49
49
497j| 4912
11734 118
117ig 118
117% 117% *116
r*115
117
116% 116% *11534 116% 116%
139U 13914 138*4 13934 138*4 189% 139%
04% 94%
94% 94% §93%
33% 3T
32%
96% 9
41% 4:
SI
32*4 3
—
600
*1178
20%
12%
*32
34
18%
12%
4.700
350
700
*32
41
40%
2,350
145
106% 106%
♦514
611 *6% 57s
200
♦33% 843, *33
84%
87
68
630
8712 87%
79% 8114 79% 8II4 237.135
106
106%]§106% 106%
1.705
88
*240
*100
800
‘"‘166
*4l2
6
106%
*3312
6*
*3412
871*
77l2 80i2
105*4 106
177)
*240
*240
*101
320
101
*240
*100
49%
49% 4
118 <*116% 119
116%
140%
93%
82%
320
102
49%
118
*115
166
49*4
119%!
2.110
3.700
117
300
140% 141
19.100
666
*03% 94
700
82% 32%
400
*95*4 96*4
41% 42
3.280
32
32
5.800
33%
1.500
58% 60
100
*137% 139
11%
*9% 11%
*30
80%
30%
35 ■
8,230
34% 351#
106
*105
324
1061j
3414
34% 35
3.100
6%
8.130
4%
51a
136V 185% 138% 137% 138
48.750
17
17%
3.300
17%
80%
800
*9% 7TS
—
tsu »
*58
6
,r
137% 13
*10
*30
84%
§106
83%
111 j
*105
34
*60
17%
*79%
1778
60
*6
10
135% 136*4
17% 17ia
*79%
*60
64
*60
32 ■,
21
50
154
154%
778
8 .
317s
15
49
34%
34%
106
136% 137*4
31%
*1512
,*47
*30
80%
1367s 137%
17l2 18 ;
79*4 79%
64
*9%
83%
6
134%
167t
79
55
l‘ 4334
h *83
84
18
18
4384
!
105% 1051d
95
75% 75%
l*110% 113%
i *90
123% 1231a
*5%
8
17% 171
12% 12<
64% 55<
42% 421
82
82
104% 104
91*4 92
76
104% 105
*91
75
122
122
*15
*84
87
21%
79
671
33
42%
*75
67
43
*15
*83
69%
106
20
*76
*66
79
67
90
:
164% 166
*2
*2
*27g
*2%
35*4
85
1
*96
34
84*4
96%
50%
96%
50*4
♦105
'
114141*105
35%
f
38f
140
141
[ *85
95
*8
:
*85
9
*105
60
110
71
8
1*69
*5
•16
| *72
75%
64*4
►164
.*
!
167
71%
72%
>120
*123
64
69
*164
711x1
71%
73
*120
74
124
...
American Malt Coro""
Ho pret..
......I"
Amer Smelters Sec pretB
Amer Smeit.ngdc Retinin >
pret
American Snutl
I
I)o pret
IIIII
Amer Steel Found (new"
American Sugar Heiinlnl
Ho pret
American Teieph & Telee
American Tobac (new) ,pf
American Woo'en....
Ho pre£_
HI
.
(AnacondaCopper PoriiS
IJethlehem steel
■>
Ho pret
Brooklyn Union Gas.
Brunswick Term & ky Sc‘
Butterick Co
/ 'entral Leather
I
v>
Do pret......
Colorado Fuel & iron
Col & Hock Coal 6c Iron.
Jonsolidated Gas (N Y).
Corn Products Refining.
Ho pret.............
’rex
...
_.
_
Carpet.
.
_
12.180
2.950 International Paper...
Ho pret...
3.850
300 Internet steam Pump
Ho pret....
825
2.600 Laclede uas (St L) com..
600 Mackay Companies
Ho pret.....
400
410
...
Ho pret
200
100 Mat Enamel’s 6c Stamp’s
Ho pret..
“4" §50 National Lead........
Ho pret
230
18.931 dNev Cons Copper.Par 35
260 .\ew York Air Brake....
250 North American Co new
8.600
adfic Telep 6c Tel eg
1.600
8.600 People’s G L 6c C (Chic).
400 Pniiauelphla Co (Plttsb’b)
825 Plttsourgb Coal Co.....
Ho pret
700
......
2.550 Pressed Steel Car.....
Ho pret...
370
1.616 Pullman Company......
National Biscuit
....
Pacillc Mall.....
1.200 IJallway Steel Spring..
It
Ho prei
"*8" 625 Republic Iron 6s Steel
3.110
6.275
*105
140
*85
*85
*8%
60
106
*69
*101
*105
*16
*53
*102
*68
*6
71
*17%
37%
111
*74
78
76
119%
49%
64
*124
*64
126
64
*164"
168
72
73*4
60
126
66
161
*71%
72
124
124
•120
36%
*110%
111’
741
80
*124
*64
126
66
*164" 167"
72
73
124
*16
74
78%
119*4
49%
119% 120
49% 50
64% 65%
66%
;
*6%
10
8T
72%
72%
*120
65
§126
*
*164
72*4
74
124
,
§72%
73%
*120
Sloss-Sbetfleld
Steel 6c Ir
Do pret
Part Zb
2.450 Texas Co (The)
Lexas Pacific Land Trust
"""660
*8%
*55
103%] *101
108 *105
19%I *16
60
*53
101
100
J
Union
Ho Bag
pret 6e Paper....
Sep
47%
J’ly
29% Mch
Oct
28% J nc ;u
J’ly 23
61% J ’ly 2
98% J’ly -C
277
Apr 4
82
1,51 *> Jaa 13
38 " J’ly 26
111% Oct
3
H2
3
Oct
74
124
Wells Fargo 6c Co
115
J’ly 26
J'no.sj
28
J’ne m
25% J’ly 2b
99% J’ly 21
22% J’ly 26
3
Sep 12
322
J’ly 20
8
11% J at 30
7u*8 J’ly 26
65
12
37
37% Oct 14
•;83<. FVO 8
xll7
Aug il
J'ly
J’ly
9j% Mch l
29% Men 18
104
347a Oct 21
65
33
50
J ne
4
134
83
6
65
96
Oct
7
8
J’ly 5
J’ly 15
Feb
152
53
l*eb
s
Mar
Jan
3'
23% Jan
86% Jan
02% Feb 25
36*4 jan L
60
Mch
Jan
88
1607* Jan
w
9s
Ja*)
206
Feb
6% Feb
Feb
18% Jan
12
Feb
29
Jan
4y
Feb
109% Fob
6% j’ly
34
b
Jan
8
16
v
61% Jan 3
54»* Jan <
90*4 Jan L
ilbuja" H.
98 Oct 10
Jan
118
17% Dec
23% Jan
25i? Men
99*4 Apr
78*4 Oct
jaa
125
Jan 17
t
28% Jan
3
96% Jan 18
89% Jan 4
Iluu Jan 1<
84
Jan
3
43%
46%
llo%
106%
27%
Jan
Jan
Jan
Jan
Jan
4
4
3
8
85
Jan
5
61% Jan
107% Jan
3
200
^
Jan U
Apr 6
5% May.l
51% Jan o
107
Jan 17
457s jan
lo4%jan
86%jan
118% Feb
o
3
3
*40% Jan ..
144
Oct 18
9j
Mayi3
13% Jan le
73
122
113%
32
84
145
Jan
Jan
Jan
Jan
H
Jan
_
0l
Jan
Jan
3
3
125% Jan *00% Jan t
66% Oct 21
129% jan
73
§25
t!95
Jan
c
jan L
4
Jan
78% Mch
82% Jan
10
Dec
Sep
61% Aug
42% Apr
20
J ne
47% J’no
69% Aug
122
Aug
69
164%
19%
37
Deo
Deo
Nov
Feb
172*4 Aug
oan
iis%
U2
109% Jan
J’ly
18*4 J *iy
9% Men
47% Men
33% Feb
82% Jan
J’ue
104
70
jan
69%
96% Jan
118% jaa
12% Feb
Jan
82
71*4 Feb
ill
53
Deo
Deo
Oot
27% Jan
19% Jan
128
9
69*4
54%
91
Aug
Nov
Sep
113% Dec
95% Nov
77% Deo
120
Sep
130
Sep
30%
Deo
99% Sep
94
AUg
113*4 Au<
“bo'Feb ”97%” Nov
Jan
291* Feb
45% Nov
10i% Jan
99% Dec
Apr
10
40
Feb
30% Feb
Feb
Jan
i% Jan
3
Men
321? Mch
977, Feb
16* Feb
67% Feb
Feb
107% Feb
$33% Oct
Feb
80%
9% Feb
66
Jan
Oct
115
rl09
Sep
Feb
Mcb
Feb
Feb
Jan
64
Jan
29% Jan
62% jan
H6% Jan 1*.
84
^i4)
87%
48%
64
120
103
29%
87%
J’ne
NOV
Oot
AUf
Deo
Nov
Deo
Aug
111*4 Aug
66
200
9%
Aug
J’ly
10
May
641-' Aug
(09 * Aug
491? Sep
110% J ly
94% Oct
Sep
*49
Jan
120”
93'#
15%
J ly
J’ne
81% J’ne
125% Deo
114
Deo
24% Feb
35% J’ne
70
Mcb
87% Aug
82
Feb fill
Deo
Jan
84% Jan
11
761? Nov
124% Aug
79% Nov
107% NOV
Feb
68
l
Nov
J’ne
Men
96
169
3<*
Oct
?
55
J&u
32% Feb
72
’j
49% Aug
98
15
86
80
29
Feb
21% Feb
il4% Feb
161? Feb
73% Feb
102% Apr
*22%Oct It
00% jail 3
Aug
Aug
60
103
6i% 0ot
Sep
Dec
91% Dec
165% Jan
26% J ne
93% J’ne
t>3
Dec
41% Jan
95% May
94
Aug
jan
llj
96% NOV
ll% J’ne
Sep
80
Jan
92% Aug
77% Feb
105% Nov
LOl Jan
116*4 Aug
22 >
Men 1285 Nov
Mch 105 Alay
95
34% Feb
66% Nov
115% Nov
136% Sep
118 Nov
131
Apr
125
Feb
145% Sep
90% Feb
104
Alay
26
Feb
40% Aug
03% Jan
107% J’ne
5,37% Feb
554% Dec
18*4 Mch
36ij Sep
4i
Feb
69% Sep
$9% Sep 26
7% J an
24% Jap
57% NOV
Nov-
38
i50%
<
l2o<- jau I*
129
Jan *
J’ly 26
49% J’ly 46
11
4
92% Jan
160% Jan
28
82% J’ly -6
48% J’lF30
114
J’ly 5
*19% J’ly 26
u
D
Jan
48*4 Jan 3
109% Mch I-
27# Aug 2
J’ly 26
xjO% Sep 7
jaa
164% Jan
18)2 Jan
78U j ly 26
J ne o
J’ly 6
22% J’ly 26
30
J’ly 25
103
J’ly 26
84
J’ly o
13
J’ly 26
60% J’ly 26
25
J 'ly .6
90
J’ly 27
J ne.„
155
2
Sep 2o
7
Mch
.J?.n
*54
1
69
63
1-
Feb _5
143% Feb .•■■:
*<>
o
..an
124
41% J’iy 26
36% J’ly 26
93% J’ly 29
79 J’ly 20
71
J’ly 27
100
Aug
H8% J’ly 6
14
Sep 17
84
Oct 17
46'» J iy .0
iui% J’ly 2j
3l7HJ’ly 6
w
b
7
Jan
00
4% J’ly 26
12 >s
.
v
128% Feb 18
Apr .0
Oct 26
Oct 27
J’ly 20
u
Feb
Mch 21
9078 jan
104
Jaa 3
112?. Jan 3
2 6
Apr 27
101 % Sep 20
25% J’ly
134
an
«
8
48
126% J’ly 26
90-r J’ly 26
25% J’ly 6
oi% J’iy 6
*33% J’ly 26
J lie 3
21
49
Aug iu
•>
L
l7%oan
<67s Jan
o2%Jan
25% J'ne.j
29
J’ly^e
102% Aug 6
125
Oct 13
jau
Jan
Nov
16% Aug
250
Jan
7% Feb
711, Feb
44% Feb
I07H Feb
42% Jan
Mob
Mch
v»vr
0
...
989
estern Union Teieg..
8.130 Westingh’se El 6bMfg assen
Ho 1st nroi...
82
107
...
72%
06% J’ne 15
Aug
Sep
1.300 United Dry Goods Cos..
Aug 2
Do pret
Aug .
"‘"350 U S Cast I Pipe 6c Foundr 99%
14% J’ly 21
Do pref.
49
J’ne.s
210 United States Express..
95% J ly 26
600 U S Realty dc Improvem’t
64% J 'ly -6
U S Reduction & Refining
4
J’ne.7
Ho pret
13
J’ly 8
2.000 United States Rubber...
27
J’ly 6
800
Ho 1st pret..........
111%
99
J’ly .6
300
Ho 2d pret
74V
69
J’ly 27
80% 1072400 United States Steel
61% J’ly .6
Ho pref
5.230
110~8
Him- J’ly -d
60% 21.100 dUtab Copper
Par 310 tS39% J’ne60
65% 18.235 Virgin.a-Caroilna Chem__
47
Feb a
126
116
Ho pret
117
J’ly :8
66
100 V rglnta Iron Coal 6b Coke
50
Sep 24
Vulcan Hetinmng
12
Oct 21
lif
Highest
Jan
Feb
Feb
Feb
47% Jan 1
1
81% Jan
72% Jan
J ly 27
190
12%
3H
65
33% Jan
95% Jan
20% Jan
jan
Jan
Feo
4
■■
41% Oct 21
I20
27
pret
19*400 dTennesseeCopper
37*4
140141 140
Do
«.
90-?'.lsn
62% J’ly 20
9
quicksilver Mining
Ho prei.....
60%
95
Int Harvester stk tr etts
Ho pret stk tr ctfs
700
100 int Mer Marine stk tr etts
Ho prei
800
.....
98
78% 79%j
119% 120
60% 61*$]
64% 65%
6512
125%
*125
f*54
67
34%
97
527
37%
111% 111%
*73
American Locomotive"
Ho pret
54% Jan
n 31«
109
jo 1
6.130 General Electric...
37,250 dGoldfield Con M.Par 310
*95
*6%
(.77*4 79%
^9% H9%
f* 50% 61%
'
105
35
*16
112
pret
6
3
u*% Apr
J’ly 26
J’ly .7
6% J ne a
62
J’ly 26
39% J’ly 25
...
Ho
Lowest
Jan
Jan
103
24
80
......HI"
Distillers’ Securities Corp
1.100 Federal Mining & Smelt*x
Ho pret
2.605
*3%
*35%
*56
*101
71
19*4
*37% 88%
112
6
361
8%
9
67% 6713]
104% 106%
107% *105
18
18%
1*101
20?*
79%
167
*2
3
37%
140% 140%
•5734 69
*103% 104
« *55
106
84
96
96
*95
59%
*88
*20
71
*19%
*70
?0%
85%
’•
122
18
87
_
r*7o
•166
105
93
33% 33*t
41% 41*4
107% 108% 108% 108%
\ 109% IO9I4I 108% 1081 j
f ' 90% 90% — —
I
*
87
69% 60
*104
106
20% 20
105
.
*76
*66
83
122
18
*
18121
61%
,♦103% 105
21% 22
105
*91
93
*73% 75
*73% 75
112% 112% *110 113
110% 110%
122
♦17
*83
60
Sugar""""
...
154*4 156
8%
8%J
108% 110
108% 110% 110% 111%
123% 1231; 123 123% 123 123
6%
51,
6 “ *6%
*5%
6
18
17% 17*4 *17
17% 17%
13
13% 13%
13**
66% 56*4 *55% 66%
43
*42*4 43% *42
82% 827$ §83
83
.
18
*12
*53
.
American Express
§235
American Hide & Leather
3%
Ho pret
19
American Ice Securities I’
10%
American Linseed
10%
Ho pret
..II.
"o'.iod
82%J
15%
49*4
154% 155
7%
81
112
112 . HO
112%
**122% 124% *123% 124%
*5%
6%
‘
Ho
Aug “
551, J’ly 10
35 J’ly 26
AgrlculturafChem.
pret
1270
15
27
12.100 American Can......
Ho pret
8.550
.III
8,200 American Car 6c Foundry
Ho pret
400
3,320 American Cotton Oil""
2412 *23
40%
10614*104
Ho
100
285
*4%
§12
32%
4013
*104% I
1061
320
102
*240
*101
*240
*412
2314
2034
*12
83
85
♦105
94
101
7511
54
54*4
113
HSU *113
66% 66l2
66I4
10612 1051a
11434 114
6534 661j
*103%
*245
*93
10
”2’900
37%
74%
115
66
66
8714
7% J’ly 27
......II
pret
American Beet
J’ne
1249
.....
Ho pret
126.400 Amalgamated Copper
43
110
*100
116
500
600
Highest
i»usc^lla..cou
Express
Adams
__
Uls-Chalmeri
...
10%
33%
69 %
48%
Range for Previous
Year (1909
On basis oj 100-sftar* tos
EXCHANGE
i.uustrl.1
*250
Range Since January 1
NEW YORK STOCK
Friday
Oct. 28
[VOL. LXXXXl.
•
3
10
24
27
98
67% Feb
41% Feb
107
Feo
*39% Feo
40% Feb
Jan
Feb
Feb
Jan
Feb
Feb
114
67
6
300
64
74
130
Sep
17% J ne
39% Aug
67% Aug
123% Aug
89H Aug
U% Oct
87
731
Oct
V67% NOV
66% Deo
128
Dec
767x Sep
37% Nov
670
Deo
85% Nov
90
Aug
BANKS AND TRUST COMPANIES—JANKERS'
UiUoiAIToNS.
Banks
HUt*
Ash
Brooklyn
I road way %
Brooklyn
icar Mti
lilisidef ..I
376
lomesteadV
tanufac'n. 415
iechanios'f
iontauk
lassau
310
125
116
230
245"
246"
270
..
....
Nat
119
155
290
Banks
Brooklyn
160
Bid
Oity,._ 290
North Sldef
People’s
...
Prosp’ctPkS
150
158
150
Terminal 1
t rust Co’s
N Y City
As tor
Bankers' Tr
805
180
trust Co's
N YGtty
B’way Tr._
Carnegie
160
90
Central
Columbia
Commercial
Ask
Bid
145
100
Tr. 1000
..
‘
Empire
Eqult'ble Tr
...
625
336
640
Fidelity
Fulton
....
1150
110
0fi
273
235
120
300
130
310
455
Farm Lo 6e l 1625
325
Ash
1650
210
290
trust Co's
But
Ath
Guarty Tr.
795
805
Guardian Tr
Hudson
.
Knickerbkr
Law T 16e Tr
Lincoln Tr
dadlson
Maunactan
Mercantile
Metro poi't'a
...
.
Mutual
Mut Ai'noc
....
170
295
250
130
OJ
375
700
51..
13)
120
trust wo's
But
At*
trust Co's
NY Life6sTr 1100
1120
N Y Trust.
636
660
uO
Savoy
105
standard 'IS- 4(H)
4i,l
HUeGudc Tr 495
500
Tr Go of Am T3
>0*2]
Union Trust 1271310
US Mtg6s Tr 465
47 t
Unit States. 1175
1200
B, oohiyn
Brooklyn Tr
Citizens'
Fiatbusb
625
vVasningtou
vVestchestei
375
130
vV Incisor
Nassau
People's
12J
175
180
30J
260
140
40J
740
..
IdO
420
...
125
..
200
Franklin...
Hamilton
dome
..
.....
Kings Go
..
L isl L 6b
Trj
....
160
130
queen*
...
Co.
Cvill.amib’t
110 salM 0H
day. t Less than 100 shares. tEx-clghts.
f Bale a* Stock Exchange or at auction this week,
*
Ex- stoek dividend,
b New stock 0 Kx-iliv ani rtch'is. d Now quoted doll an per share,
Banks marked with a paragraph (|) are State banks.
‘-i
Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 11909, tha Rxctia nge method of quoting
BONDS
■M
O
U
(J
(J
U
t.
t.oveiimieui
S 2a consol registered.<i li'BO
S2a consol coupon....til93U
100*
100*4
101*4
101*
ti
*1918 v*-F
KlVlb y-F
8 3s registered
8 38 oouyou
small bonds.. «19i8
0 8 4s registered
1925
17 8 4a coupon
1926
a 8 Pan Can 10-30 yr 2s.fcl03b
(J 8 3s
biu
cou
Forcip Oovernmeni
Argentine—Internal 58 of 1909
Imperial Japanese Goverum'i
sterling loan 4‘as
1925
2d senes 4 ‘as
1926
*-F
Last bale
ASK Lots
•VI- K £
97
•
•••
•
•••
101* J’ly’io
100* Aug’lo
....
97*
to
New 4 *s
New 4‘as
1967
l.'lV
-
4*% Corporate Stock ..1967
*% assessmt bonus.... 1917
4% Corporate stock.,.. 1967
N Y state—Canal Impt 4s.l96U
4
•vi-N
•Vl-N
M-N
Wl-N
M-N
J-J
102 *s
60 Carolina 4 us zu-aw
193o j -4
Tenn new settlement 3s.. 1913 J-J
Virginia fund dent 2-3«...199i
J-J
Os deterred Brown Bros etts.
•
•••
•
••
108 V
103
I077s
103
108
10 2* Oct ’10
99 *
DO-*,
105* lo5S
iU7* 108
10* *
i'9
105*8 sale
Dofl<
96
114*115*
100* 100*
90* Jau’10
41
05*
97*
04
96*
93* 06*
8b* 02*
101* 104
U95
97*
06* 09*
94* 07*
•
Of $5 to
100
£.
101*
100*
96* 100*
109 7e
103*
110
103*
100 -v
105*
1U3*
94* 96
00* 0u*
0i>
13 106 *
2 102*
36 106 *
102
11
06*
5 101 *
103*
•
•••
•
•• •
Lt3*J’ly'U
104
95 7e 97
84 >3 88
41
Sale
101*103
15
I 94* Sale
94*
04* 18
15
t 94 sale
93*
94
l 88*3 89*4 88*
5
B8\
Sterling loan 4a
1931
6
102* 102*
JiOl
102*
Repub ol Cuba 5b exten deoi..
97* 07 * Oct '10
San Pauio (Brazili trust 6s 1919 JJ t «7
* 967» 97
97*ocf 10
U 8 ol •Mexico s 1 g 08 ot 1899
94 *s 96*a 94* Sep *10
Gold 48 Ot 1904
1964
hese
are
ices
o n t!u b asu
pr
\T
State and City Securities
100’b Sale 100* 101* 155
N Y City-4*s
19 do
99 *s aaie
90
99*
99*
4% Corporate Stock
i. 69 >V». N
b
09*
99*
90* sale
4% Coruorate otock.... 1968 M-N
sale
1U0* lot *
101* 102*
102*102*
114* 115*
115 Si Oct *10
116 * Bep ’lo
97*
High,
100* 101*
FA
J J
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MS
lua
Since
Htyti A0 Low
Oof 10
101
UK)* J’ne’lu
Oct ’lu
102
102*8
102 * 102 Sep ’lo
97U
Mange
January l
101‘4 lud*
116*3
100‘s
QN
Is
Mange or
*U6*‘ il6\
St?
was changed, and prices are.nout
Week's
Price
Jrulay
Oct *8
N. Y. STOCK EXCHANGE
Wrkk Ending OCI 28
bonds
•
• ••
15
41
40
56
Railroad
a tanama Cent
bee so By
cLlaba Mull See At Coast Bine
Albany A Susa bee uei a uuu
Aliegueny Valley bee Penn itu
Alleg A West bee Bua K A t
Ann Arbor 1st g 4s
A1996
78
Atoll T A S Fe—Gen g 4s. 199o A-C
Registered
Adjustment g 4a
1996
A1996
Registered
/U996
Stamped....
./11995
Conv 4s issue o£ 1909.. .1966
Cony g 4a
iaoo
COUT 48 (issue Of 1910). i960
10-year cony g os
in 17
Debentures 4s Series J.1912
A-C
No»
ttt Knox A N bee BAN
,
1st gold 6s
811 bp Oca
...1934
A G gug4s ..1918
D
1
Registered
/il926
Quid 4s
A1948
:'!
Pitta J uno 1st gold 6a... 1922
P Jon A M Dir 1st g 3*081926
PLEA W VaSysref 481941
Southw Bit lat g3*s...1926
i
Registered ...........41926
Can Ohio R 1st og4*a..l03o
01 Bor A W ooa 1st g 6s 1933
Monon Riy 1st gu g 5s.. 1919
Ohio RIYer RR 1st g 6S.1936
General gold 6a
1937
Pitts Clev AToi lstg 6s 1922
;
Pitts A West 1st g 4s...1917
BtatlslRy Istgu g 4 *s 1043
Beech Creek bee N x c A H
Bailey A Car bee Illinois Cent
Bklyn A Montauk bee Bong 1
Bruns A West bee Ati Coast B
Bullaio N Y A Erie bee Brie
Buffalo RAP gen g 6s...1937
1
106 *
106*
J-D
lu3
lb?*
107
106*4
Hale
102*
103
J-D
108*4 sals
M-8
M-N
J-J
J-J
M-N
A-O
A-O
J-J
u
J •J
M-N
M-N
J-J
2:i
A-O
F-A
J-V
A-O
A-O
J-J
J-l)
Ai-S
J-J
A-O
J-J
F-A
J-0
J-J
1913
1913 M-8
M-8
Registered.............1913
Oarb A Shawn See ill cent
Carolina Cent bee Seab Air B
Carthage A Ad bee A 1' c A U
CedRIaFAN omBCKAN
Cen Branca Ry bee Mo Pao
Cent ol Ga RR 1st g 6a..pl945 F-A
Consol gold 5s.....
1945 M-N
Registered
1945 M-N
lstpret income g 6s
pl94&Oct
...|....
5s....pl045 Oct
6s stamped! ....
3a prei income g 6s....pi946.Uot
g
g
stamped.1
....
6
Jan'l
92
74
....
23
13
18
40
5
107*
97* 101
100
88
02
89
105
100
03
05
02
94*
117
122*
104*
104* 122*
9b* 08*
•••
•
08*
97
02
....
9*» Si......
93*8 Sale
93*
....
95*3 96
106*
54*9
128
96
96
8
....
91* 93
*27 *89’* *95*
93
92*
-••••«
....
....
92*3
9 2 >4
98*
99*
93*
91* 1
98*
96*
99
•
91
80
90
38
07*
•
20
10
90
......
....
112
....
I "I
109*
•
•••
•
•••
•ess
......
107*115* lie* J’ly’io
107
109 ilod J’ly’io
95* 100
108
116*118
••••
•
•••
72*
103* Hale
106*108
91
91
108
93
93
87* 89
87* 88
84
85
84
85
•••• '•
105
06
109*
99*
23
Oof 10
...J
75
84*
86*Ocf 10
...J
10
75
80
91
87
10!
1
....
81*
90*
87*
87 s
86*
86
1886-1026
Registered
1886-1926
General gold 3*a
...1987
Registereu
.pi987
Sinking iund Os... 1879-1929
Registered
1879-1929
Sinking iund 6s...1879-1929
Registered
1879-1929
Railway
Brooklyn Rap Tr
1st refund
g
cony g
6s.....l046
A-O
4s. ...2002 J-J
BkCity 1st cou 6s. 1816.1041
Co A S oon gu g 6S.1041
Bklyn Uu El 1stg 4-6s.l06o
Stamped guar 4-5s....l96o
Kings Co El 1st g 4s
1941Stamped guar 4s
194V
Bk (j
Nassau Elec gu g 4s ....195 i
Conn Ry A B 1st A ref g 4 *s ‘51
Stamped guar 4*s
1961
Det United 1st con g 4*s.1932
Havana Elec consol g 6s. 1952
Inter-Met coll 4 *s
195t
J-J
M-N
f-A
F-A
F-a
F-A
-J
J.J
J-J
J-J
FA
A-O
d-N
Rap T 3 yr conv 6s. 1911
1952 U-N
43-year 5s Series A
Internal Ttao coll tr 4a..l04»> J-J
Inter
Manila Klee 1st A coll 58.1053 •VI-s
No
prioe Friday; latest tills week.
1 101* 105
104
84* 180 70* 87
1 100* 104
10o*
104
Salto
«3* balto
104
loo * Sai*i
07 s salt
102
Sale
102
102*
83
81
82
b4b
78
79*
102
100*
ibo*
101* Aug’il
80
95 *
••••*•
81*
83*
07*
102
102
84* Apr’10
82
Oct *10
102* Mar’lt
••••••
-----
•••
1
J’ly’K
....
.•••
07* 08
08
89*
a4
80
76
103
103
85
86*
82
102*102*
100* 102
•
•••
80
93
82*
*10
06*
81
8.* 1269 77
83*
11
1
104
100* l02a«
loo*
lol*
101* 116 100
1037,
67* Mar'io
67* 6i*
95*
81*»3alt
100 s siaJe
101* lo2
65*
•
82
78
80
3
3
6
09
102
102
93
H Flat. aDueJan
Got
May’Ob
.
*
.
•—
d Due Apr
......
e
••••••
Due May
100* 101*
100
100*
May’10
1UI
101* 101
101
97* sale
97*
97*
loo*
loo* J’ly'io
82 \» 85
85*1
84*
122
127* I2i J’ly’io
111
Sale
110* ill
114 May’09
-
iio *
86* 80,.
1U5*
J.J
*98* iuo“
98
1U0*
07* 09
100*
100
102
61
121
127
•*••*•
110
86
126
Dec’u9
J’ue'io
S3
1
86*
84
.....
112
87*
124*129*
loo" ibo*
*1‘J
02* 94
193
103*
98
100*
*85* ”8*9**
26
lo7* Mar'io
6
*16*4....
103*....
J -D
J -D
u-F
F-A
F-A
M-N
99
11J
100
......
99
05*Jiy’lo
8/
89*
89
102*103*
06** 101
05 * 95*
87
90
89
93* Apr *09
o-F
HO*
106*108*
103*106*
110*113
OcflO
J’ne 10
98*
....
i mu U0*sep»u>....j
103
■'
111*
lJ
10
106*107
A-O
A^O
A-O
14*
A-O
IDS-u
......
106
iviar’ia'
......
107
107
M^y’10...
.
93*
108
106* 108
100*4 100*
......
110*112
91*
107*
107
li 6a* 116*4
104-4 106
100
100*
116* May'iu
104* 104*
100
May’10
10U JNov*o9
ioa *...... 105*4 Aug” 10
100% May'io
103*
103*Aug'lu
J.J
j.j
J.J
106
05
i’00*
106
107
100* 1’90’iu! ..Jlo6* 106*
100
sep
J109 in R
109
114
168*
i 17*
......
J’»y’o*...3
Ii4*4 J’ly ,10j....t|ll4* 117*
11a* Ma*’l(u..%J|ll2i»4
142* Feb’oifl.
117*..
Ii-Jjj
123* Apr W.
103* way’UO’
100
1917 J-J
1988 J-J
6a...J.03tlf
88
98* 101
108*U3
197 7S..... 108* Oof 10
107
107* io7 * oct ’10
102* 104* 103*
103*
J -J
j -j
J.J
Jhio St B A Pitts nee Penn Col
Jluo st P M A o eon
J-D
Cons 6s reduced to 3 *s.l93ir J -D
08*100
36* 89*
’
j.j
Chlo R IA pao RR 4S..2U02 M-N
Registered
2002 U N
Bur O R A N— lstg 68.1034 A-O
Regutered...........lD34 A-O
CR1F A N W Istgu os. 1021 A-O
M A St B 1st gu g 7S..1027 J-D
Ohoo Ok A G gen g 6s .oloiD J - J
Consol gold 6s
1052 M-N
Keek a Des M 1st 6s....1023) A-O
Jhio st u A N o bee 1U Cent I
109 *,..... 110 OCf 10!,...*ll09*ll-4
100
100 Aog’l0....l09
109
9/* 07* 97*
97*04* 09
•••«••: e•••»•'
93*4 Feb’10 ...Ill 08* ys*
tiir ^aio.
90
89
107N 80
92
......
•••#••
07*J’iy-*io;..J
94* Jan»iO,....
••••••
94
07*
■* 07*
94*
Deo *09 ...J
04*
io9*‘ iVtf*
94* Ma>'lO ...J 04* 04*
03* Aug’00....
74*4
75*244 00* 83*
76*4 May’io ..„! 76*4 80
ill*Ocf 10
111*114*
106*4 sate
105*4
05
74*4 Sale
■*•-*•
......
i
120*Mar’tn)
100
102
1U4
100
102* 104
110
(104
May’io.... 104
108*OeflO
Feb’10
I
122*125*125* Oct »10
86
5 106*4106
105*4
......I 03
(
....
104
108 110
103*104
.
128
127*
Deo*o3.
Next Page.
Street Railway
Met St Ry gen ool tr g 5S.1997
A
Bel g 4s
...2002 |A-0
B way A 7 th A V 1st Og 68 1843 J •0
COlA 9thAVIstgu g 58.1903 d- 8
Bex Av A P Fistgugda 1803 vl- 8
Third Are RR oon gu 4s 2000
J
CeutTr Cocertfs stmpd...
Third Ave Ry 1st g6s..l037 J-J
N Ori Ry A Bt gen 4*s ..1835 J-J
St Jos Ry Bt H A P 1st g 5s *3'1 2-N
Paul City Cab ooug 5s. 1937 j.j
Tn-City Ry A Bt lsts f 68.1923 A-O
u udergrouna of Lou 68...1821* M-N
4*s
li*3:< J-J
Income 6s.
194b .j
Union El (Chic) 1st g 6s..1946 A-O
United Rys St L let g 48.1034 J-J
United RRs san Vrsi 4s. 1927 A-O
Duo J’ne
w
10U
j.j
....19881J-JV
..1934, A-O
75
87*
97
no
92* 02 *
92*
103
J’ne'ia
101*103
09
09* 09 *
90*
l03*Oot 08
88* *90*
88* Oct ’10
93
sals
93
02*
j.j
j. j
u.j
CoU trust Series J 48....1912 M-N
M *8
191 i* M-N
N 4s
19X6 M-N
O 4s
1017 M-N
P 4S.
—1018 M-N
0
£5*
1.6 126*126
10/*...
114
o
MU B S A West 1st g 6s 1921 M-S
Ext A Imp siund g 58 1929 F-A
Ashland Diy 1st g 6s.. 1926 M-S
Mich Diy 1st g 6s......1924 J-J
incomes
1911 [M-N
Chic Rock isi A Pao 6s...1917 J - J
on
Sale tuo
1033 M-N
1933 M-N
Registered
68*4
100*102*
.
1921 A-O
1921 A-u
os
Registered
Sinking iund deb 6s
Registered........
MISCELLANEOUS BON OS—Continued
Street
125*
......
J.J
J.J
J.J
Extension 4s
0 102 * 105*
1 100*101*
82
84
76
91
90* Oof 10
87*
87*
J
ChioANorthwcous7s....l916
Registereu
Refunding g 4s
109*118*
2 103* 109
100
71* Oof 10
75
cijt JU9
93 * Sep io
83* 8b*
211
88* **;*,
87*
88 Sep*io
100* Sale loo* iUl
104*4
10«* Oct ’09L.
99-vlOU* 90-jt Ocb ’10
99*....
y9*oct no
loi * Mar’oo
9/
97* May’to
M-8
ChioAP W lstg58.....1921
Dak A Gt So g 6s
1916
Far A Sou assu g 6s
1924
BaCrosse A D 1st os....1919
Mineral Point Div 6s....1910
So Minn DiV 1st Os
1910
Wis A Minn Diy g 6s....1921
MU A No 1st M B Os....1910
1st consol 6s
1913
116*116*
72
72
•••
4 120*125
>107
109
71*
Chic A B SUDlV g 68....192l J.J
Ciuo A Mo Riy Diy os...1926 J. j
Mar’10
•
122
loo* SepVio*
,
95
Clue Gt Western 1st 4s...1959
cuiu ill do ijOuiDV rei Oo...194 i
Reiuuding gold5s.
1947’
Bounty a A A CU 1st 68.1910
Chic Ind A Sou 60-yr 4s..1966
cuioMil a St P term g 5s 1914
General g 4s senes A..el989
Registered
*1989
General g 3 *s senes B.*lwo9
25-yr deoen4s
1934
72
108* Oofc *10
106* 107 |
113 Apr’06
1 120
....
tmmmarn
Sinking luna 4a
1919 A-O
Nebraska extension 48.1927 M-N
Registered
1927 m-E
Southwestern Div 4s....r92ipd-S
Joint bonds bee Great Nortn
Deuenture 6s
i913bvi-N
General 4s
1958 M-S
Han <so st Jos consol 6s.. 1911 sw-s
Ohio a r ill ret <36
imp g 481955 J1st consul g 68
1934 IAGeneral consol 1st 6s.... 1937 M-N
Registered
....1937 M-N
Chic do inu o Ry 1st 6s. 1930 J-J
Clucago A rune bee Erie
General gold 4s
104
110
103
123
Sep ’10
100V.—.
_
:::: irmr
103*
.....
100* 109
Kauway 1st lien 3*s...l9bu J-J
••••»•
118*116*
1110
'102
Sep’10
122*124
Registereu
196up. j
CLuc suriA
—Deny n4s 1922
Illinois Div3*s...
1949tj. j
Registered....
i94o J - j
lllS Div 48
.1949 J
Iowa jluv sink iund 6s.. 1919 A-O
Debenture
••••••
Nov’05
Jan’In
io3*iqj
87**
103
115
100*101*100* 100*
:10U**Uy'07
109*
•••••
•
Jfiyfv Mo Low High
\i-.j
Aug’10
J’iy’08
J’ne’10
00
116*
......
••••••
00* Sep ’09;....M
104* J'ne 08.,
fj-j
99*
••••••
jOvj
rii2
iw>*
••#«•»
A st
103*....
107*....
99
bince
January 1
91
103*
122
Mange
or
Last bale
88* Sals
85
88*
88*
>Q-F
88*
ChasAaav bee AU Coast Bme
Ches & Oluogold6s
100
al91i A-Oi
Oct ’lw
100
101*
Gen funding A impt5s.l929 J-J
106
lu2
|U4 Sep’jo
106*
1st consul g 6s
112
1939 M-N 112 112*
11U* 114*
■m
Registered......
1939 M-N
113* il2*Jan’lc
112*112*
General gold 4Sw-.......1992 M-S
103 *
10l* Sale 101*
102 178 09
Registered
1992 M-S
102
101 * J’nG’ic t... 101*101*
Convertible 4 *s (wh is). 1930 F-A
89
93* Salt
423
95 *
y3*
: 4
di<4 ^anuy isi 4o
89
87
1944 j.j)
89* 89 Apr 10
b9
coal Kiv Ry 1st
84* 88
83
4s..x Ho ►J-l)
88* Oct’10
88*
105
Craig Valley xstg 5«....1940
101
104* Sep io
104*
Potts creek Br 1st 4s..l940 J-J
81
00
90
d an *rj
R <36 A UlY 1st Con
95*
98
98
g 48..198198*
94* 99
pi-J
2u consol
91* 93 .91 Sep'iOff
g 48
1989
90*
Warm &pr vai 1st
101
113*
06
g os..1941 pVI-8
Greenbrier Ry Istgu g 48 ’4u M-N
95
9a
Oct ’10
95
Oluo On Ait RR rei g 3s...1949 A-O
74
72 Sep ’lo
70
77
93
••••••
Mia
86
/il987*"
Registered
Week's
Mange
Pet ‘<13
Am Dock A imp gu 6s.. 1921
Be A Mud Rgeugug6s 1920
Bell A Wilks B Coal 6s..1912
Con ext guar 4*»....pl01u
N Y A Bong Br gen g 4s 1941
Cent Pacino
bee So Pacitio Co
Cent Vermont 1st gug 4s.sl920
112
97*
03
80
89
02*
89 * 90*
103
103
110
113*
Price
Friday
Cent ui Ga UK—(vonj
Chan, my pur mon g 4S.1951
Mac A Nor lav 1st g 6s. 1940
Mid Ga A AU Div 6s....1047
Mobile BIT lstg 5s
1940
Cen RR A B ol Ga ool g 6s 1937
Centoi N J gou’igolu os. 1987U
«•••••
87 *89*
....
90
101*
102*
103
96*
80
96
BONDS
N. Y. STOCK EXCHANGE
Wkkk Ending Oct 28
•••
••••*•••••*-
98*
112
06
....
ill*
120
(
87* 83* 87*'
01* bale
91*
90
96*
......
123
98
92
....
110‘s
»**
93
9»s
97*
7
04*
107*109*
.
lo8*u
83*
08
....
92*
92*
j-iJ
Und 8o
1st ext 6s
6s.......
3d pref income g 6s
J’ne’lu
01*
M-N
2uprei income
2d pi el Income
99*
08*
91*4
Consol 4 tea
1967
All A West lstg 4S gu..!998
01A Mah 1st gu g 6s....1943
Rooh A Pitts 1st g 6s...1921
Consol 1st g 6s........1922
Buff A Susq 1st ret g 44.41961
BuxOR&N bee ORiAP
Stamped
98
91*3
91 Si
41948 <4- J
Registered
i
97*
7
ilu
-
M-N
J-D
AUantlo A Danv bee SouUi Rj
Austin A N W Am Sou Paciilu
i IMtlt A Ohio prior 1 g a‘as. 1926 J-J
!
79
Nov
FA
Series k
1913 FA
Cast Okia Diy 1st g 4s.. 1928 M-8
Short lane 1st 4s g
1968 J-J
8 Fe Pres A Ph 1st g 6s. 1942 Ai-b
Uantoo Coast 1st g 4s. A19 6 2
Mid 1st gu gold 6s ..1928
ns A W 1st gu g 4s.. 1938
ties A Say 1st g 7s..1936
iAN COllg 4S
01962
ftVjrA W 1st gold 6s..1934
80
98*4 Sale
all’—"and interest” —except for income and defaulted bonds.
:
New York Stock
ADue J'ly
leDue Aug
75
W.
80
’YS
48
75
48*4
102 *
100 * 102 * 102*
96
100
86 J’ly’10
99
06
93
08
Iff 74* 82V
16| 46
64
08*102*)
06
OS
108* 108
88
95
Haiti
83
80
09*
86* 87V
•*••••
•••••*
80
60*
68
oDue Oot
Nov’Ob
102
86* 88
01%O«t’tO-..
62* Sals
61*
63s 16
106*110* 107* 107*
86*1 84* Ocf 10
67* 60*
65
08^
.06* 1U87
84* 87
•—
•••«
107*DeoM9
98
08
08; Apr *00
88* Get *10
86*
37
84
Oct *08
80
8A
Aug*l t
68*
D Due Not
3
80
teist
li
83
80
81* 40
70* 83
8,65 > 74
..
«Option Sell
1
1144
New York Bond
BONDS
N. Y. STOCK EXCHANGE
Week Eedikq Oct 28
Weekfe
trice
Friday
Oct VS
gf
0 0
Bange or
Lend Sale
Chf# 8t P M A O-f con)
Bt<i
Ask Low
I
Ch St P A Minn 1st g 6s 1918 M-N 122 126*4 123
Nor Wisconsin 1st 68...1930, J-J
122
127y
JK PAS City 1st g 6s...l9l9 A-0 112*4
Ohio A West Ind gen g 6s $1932 Q-M 108*4 112
Consol 60-year 4s
91
92*4 92
1952 J. J
;
See Pere
Cln W A M DiV 1stg48.1991
8t L Div 1st ool tr g 4s..1990
1st
J-J
M-n
.....1990,M-n
g 4S..194U M-S
W W Vai Diy lstg4s...l94o! J • J
C1 St L A C consol 6s..1920,M-N
1st gold 4s
£1936 Q-F
Registered
£1936 Q-F
Oln 8 A Cl con 1st g 5s. .1928 J-J
O C O A 1 consol 7s
1914 J-D
Consol sink fund 7s.... 1914 J-D
General consol gold 68.1934 J-J
Registered.
1934 J-J
Ind Bl A W 1st pret 4S.1940 A-0
A
O Ind
W 1st pi 5s...t(1938 Q-J
Peo A East 1st con 4s...1940 A-0
Income 4s
1990 Apr
Cley A Marietta See Penn Bit
dev A Pitts See Penn Co
Col Midland 1st g 4s
1947 J-J
Colorado A Son 1st g 4S...1929 F-A
Refund A ext 4%s
1936 M-N
Ft W A Den 01st g 6s..1921 J -D
Ooium A Greeny See So Ry
Coi & Mock VaL See HockVal
OolATol See Hock Yal
Ool Conn A Term See KAW
Conn A Pas Btvs 1st g 48.1943 A-0
Cuba RR 1st 60-yr 5 R....1952 J-J
105
NO Low
123
/Sign
127
....
....
••••
2
105
•>
*8*8% iff.
192
....
102
194
94*4 Sale
‘iff*
94
—a
94*a
93
91
95
91
95
06
I99*t»
I
00%
96%
1
95
04%
89%
06%
90
90
96
90
105%
97*4
195*4
;
....
96*s.
98
io8
,
.
....
<
•
lU6%.
103*4 J
121
119
126
....
Aug’ 10
•
•••
» ••
105% 105%
96% 03%
06
108
01
03
91
61
61
70
Sals
91
70
96*i
70
W47e 05*4
07*s Sate
95>s
97*8
113*4113*4
2
Oct ’10
97’,
80
63
....
10
66
6
41
93
04%
04%
81%
97%
09
13 1U%1U
LOO* Msy’io
100
Dei Lock A Western—
Morris A Essex 1st 7s... 1914 M-N
1st consol guar 7s
1916 J-D
1915 J-D
IstTef gu g 3 %s
2000
N Y Lack AAV Ist6s...l921
Construction 6s
1923
Term A improve4s....1923
Warren 1st ref gag 3 >98.2000
Del A Had 1st Pa Diy fs.1917
Registered
1917
10-yr cony deb 4s
1916
1st lien equip g 4%s ....1922
1st Aref 4s
...1943
▲lb A bus cony 3*88
1946
Rons A Saratoga 1st 7s. 1921
Dei Riv RR Bridge SeePaKB
Deny A it Gr 1st con g4s. 1936
Consol gold 4%a
1936
Improvement gold 6S...1928
1st A refunding 6s
1955
Rio Gr J one 1st gu g 6s.l939
Bio Gr So 1st gold 4s. ..1940
Guaranteed
1940
Bio Gr West 1st g 4s....1939
Mge and col trust 4sA.1949
*
Utah Cent let gug 4s *1917
Des Mot A Ft D See M&stL
Dee Mol Un By 1st g6s..l917
Det A Mack 1st lien g 48.1995
Gold 4S..
1995
Dot So—O s Div 1st g 48.1941
Dui A Iron Range 1st 6S..1937
Registered
1937
2d 6s
1916
J-D
J-J
F-A
M-K
F-A
M-S
M-S
J-D
J-J
M-N
A-0
M-N
J-J
J-J
J-I)
F-A
J-D
J-J
J-J
J-J
A-0
A-0
m1*
87
04
103% 111%
112
114%
....
....
116% 120%
:::::: m*
86
lie
....
120
122*4
13
08%
98 %
92*8
06% 100%
20
01
....
....
J-D
J-D
M-S
A-O
A-O
34
92*s
83*3 85
98
.
78
85
;
:
92
i
09%
....
1
<
87% 04%
04*4
89
72
....
91
09
09
2
74
....
19814119
....
‘*04** *9*7%
83
72
106
108*3
120*4121
166*4
103*8
100*3
103%
....
103%
91
74
111
»
199
87
76
79
100
J’*
193
Terminal! 81 gold 6s.. .1943 iVJ-N
Regis $5,999 each...1943 *¥1-N
Wilk A Ea 1st gug fis.1942 J-D
80
08*4
99%
99%
lib
1
32
lib
bu%
87 %
67
76%
83% b7%
64
66
83
73%
113% 113%
3 11U
115
120
114
127
114
i.03
103 %
%
00
104 %
2
J’ne’10
191*3 Mar’io
103%
106% 196%
103*3 JAUlu
80
100
i03
100*4 1U3
100*3
88
118% 122%
iOU
111*8 112
111% 1U%
112
116*3 121 Dec ’9fc
122 *3 124 V 124*4 Sep ’10
100*8 1U Apr‘1C
190*3
103 St Oct ’9b
90
108%
i0b% 100%
85S. Fell’07
87
b7*» 63
76
76'* 80
71
60
134
68
bale
bale
113
106% 107%
1 108%
106*4 Mar* 10
193
Mar’lu
106*4 Jan* 10
99% Feb To
-119*8.118 Oct'10
85% 86*3 66
86
bo
81
Nov *09
76% Sale
76*4
76%
...
•
• • .
•
...
....
i
*89
93~
108
108%
101% 101%
MlSCKLI^ANEGUsi
95%
Registered
Gold 8*38....
Sep ’10
127*4 126 *a J’Jy 19
132
Apr’09
i'oT 106*4 Oct ’19
198% J’ne’90
97*3
111*4
112
116
87
102
99%
113
125
102%
10|
18
05*3May’lO
00% beo’90
......
......
87%
...
104 J’ne’ioj
1107% Apr’O?
90
Aug.10
02
04
87
129
119
113%
87
04%
J
06
05%
104
106%
02
09
199%
98% Oct ’19
96
08 % bep TO
0<% 100%
90%
bep'9tf
J 'ue’oo
00
97
iloO
M»y’ul
Apr’99
b7%May’l0
i8i
99%
114%
90
03*QMay’U0
60
J ’iy '90
09% Oct’10
00*4
••••••
09% 104
1
190*3 Sep’96
123
’•»•••
••*•••
87% 88%
Aiaj* 90
77
77% Mar’io
70% Dec '08
7/%
77%
87*3 80
80 Feb’lO
101*8 oct ’99
88%
80
loo
05
A
_
87
102% 102%
93
02
101%
109%
••••••
J'ne’ub
87
89
04% 97%
04% 06%
100
98
Aug’10
109*4 OOt '06
00*4 Jan To
136% aiaj'OO
111*4 iUS
113*4*
92
87
103% 197%
OOt ’10
199
08
68%
bl
98
190
125 % 128%
114% Feo’io
U2*«
126% iso** 125 Aug’10
♦
1961
1961
249
33
09
05*8
Registered.
1963 M-N
Cairo Bridge gold 4a
I960, J -D
liOuiavDivATerm g3 *38.1963 J * J
Middle Diyreg 5s....f. 1921
Omaha Div 1st g 3s
1061
St Louis Div A term
g 38.1061
96*4
95%
95%
06
See ChesAO
11st ref A t g 6s 61952 J-J
Beiiev A Car let^ 6s
1023 J-D
Carb A Shaw 1st g 4s...1932 M-S
Chic bt L A N O g 6s...1051
Nov’ou
Oct TO
05
08
1*7 Si "lit
117 % May T9
96%
96%
110%'U6 Oct TO
115
118 Mar’io
....
I
Registered
1051
Gold 3 *38
.1961
Mernph Diy 1st g4s...l051
06% 90
114% 110
118
••••*»
07% Mar To
0<%
07%
06
03
J’iy’06
06 May’10
107% bep TO
UlO
May’10
1193
16%
104
16
118
'•••••
08
*
%
Get ’09
90
St L Sou 1st gu g 4s....1931
Ind Bl A West Seeu O O A St L
ind 111 A la 1st g 4S......105U
Int A Great Nor 1st
g 6a.. 1010 M-N
2d gold 6s
1990 M-S
Trnst Co oertfs
I -—
3d gold 4s
1921‘M’®
Iowa Central 1st gold 6s..1938 J*U
Gold 4s
1951 M-S
104
70
107 % UU%
106%112
103%
16%
103
112%
17
Oct TO
70
36
102% 196%
60
7/ %
71%
T4
KCFtbAAi
see St L A S F
6^4 St LA SF
Kan C A Pacific See MEAT
Kan City Sou 1st gold 3s.. 1960
Registered
1950
Ret A impt 5s Apr 1050
KCAMRAB
Kentucky Cent
KeokADesMo
J-D
M-N
\-o
..106
61
j.j
J 'll
f-A
4* IS
106% Oct TO
SeeSo
60% Sep TO
107%
69% 67
......
Detroit City ornsgos
1023
pet Gas Co cpn lai g 5s...l91b
Eq G LN iiatoon g 6s..1932
Uas A Elec Berg Co c
g 6a. 1949 J-D
Ur Raj* G L Co 1st y 6s... 1916 F-A
Hudson co Gas 1st x 6s.. L949 d-N
Kau City (Mo) Gas 1st x 6s 1922 A-0
Kings Co El L A P g os... tM3 i A-O
Purchase money 6s
...109'. A-O
Ed hi 11 Bkn 1 si con
g 4a 1939 J-J
LaCGiUtCOt bt Gl8tgO8.#i0i9
09
97
105
......
98
101
......
101
102%
97
lug
.01
Apr To
96% Sep ’9b
105
Oet’lO
01 % uot ’01
199
Oct ’90
192
bep To
97
Mar’ld
101
Aug’lo
14
Oct ’IQ
113% 115
86% 88*% 0U Mar’lu
102% 1U4 1 1.02 % oct TO
100
100 H
99% Oct TC
*
90%
198%
91
♦No price Friday, latest bid and
asked this week,
Apr’10
a
Due Jan
iof* ioi%
*01% 1*0*5%
lol% 103 j,
97
07
dh)
101
110% 116
»7% 00
L0O
99
%lu5
191
01
b Due
92%
r
eb
108%
North Ohio 1st gu g 6S..1945' A-O
L Sho A Mich S See N Y Cent!
Leh Val N Ylstgug4*as-l04U J-J
Registered
1040 j.j
Lehigh Val (pa> cons g 48.2003 M-N
Leu V Ter Ry lat gu
g 5s. 1941 A-O
Registered
1941 a-0
Leh V Coal Co 1st gu g os.1033 J -J
Leh A N 1 1st guar g 4s..1045 M-8
Registered
1045 M-S
El U A N 1st pi 6s
1014 A-O
Gold guar os
1014 A-0
Leh A Hud K see Cent ol N J
Leh A Wilkeeb See Cent of N J
Leroy A Caney Val See Mo P
mong Dock See une
Long lut’d— 1st con g 6S.A1931 Q-J
1st consol gold 4s
£1031 U-J
General gold 4s
1038 J-D
Ferry gold 4*as
1922 M-S
Gold 4s
1932 J-D
Unified gold 4s
1040 M-8
Debenture gold 5s
19341 J-D
ou
ioi% 101 *4 Got TO
09% 103
-
no1*
~
110%
108*all2%
106
107
111
196% Mar l 9
MarTu
109
106% 107%
103% 112
106
107
105% J’ne’10
106% 108%
103%
107
Aug’Uv
*07% 07
,114
J’ne’iO
m% 114
••••••
106%
03%
102
100
100 % Get’00
1103 Nov’uo
*96
| 03% Mar’19
07%
*98**
06% 07%
115%
114
03%
.’IIIII loi% Feb’lO
06
1*0*1% uf£%
191% bep *00
110
*03%
Get TO
114
113
FebTO
112
04
Oct TO
03
Oct TO
00% Got’96
97
112
I
101
97
08
08%
07
06
i
03% MarTU
104% Dec’08
t
07%
100%
0*3% *9*5**
Next Page.
Light
Purchase money g 4s...1949
Ed El ill 1st cons g os.. 1995
N Y AVlEl LAP 1st con g 6sl930
N Y A Rich Gas 1st g 6s. 1921
Pacific G A Elec Co Cal G A E
corp unifying A ref 6« 103 *
Peo Gas A G 1st oon g Os. 1943
J-D
F-A
J-J
F-A
M-N
M-N
A-O
Jd-S
Refunding gold 5s
1047
ChG-LACkelstgugds 1037 J-J
Con G Co of Ch
101% 103% 101% 102
84% 85% 85
85%
110%lli% llO%Oct TO
101
••••••
91%
......
109% Mar To
07 % J’ly '00
91%
93
110% 117 % 110% Aug’10
104
03%
102
bale
102
Oot'lO
104
101 % Oct TO
104
lstgugds.’36 J-D
Ind Nat Gas A Od 30-yr 5s ’36 M-N
Mu Fuel Gas 1st gug 6s. 1947 4-N
Philadelphia Co conv os ..1010 F-A
Syracuse Lighting 1st g os.’61 J -D
Brento.n G A El 1st g 6s.. 1940 4* Is
Union Elec LAP lstg58.1932 M-S
ioo
98
110
96
Westchester
101%
102%
d Due Apr
78% 87
Oot^oo
Hy
NYGSLHAPg 6s... 1948
105
100
Lake
Erie 6s
A W let g 6S..1037
2d gold
1041
BONDS—Continued
102
72%
63
ess LA N
See C B 1AP
Knoxville A Ohio
Gas and Electrio
Rel ami ext 1st g 6s
1934 A U
Milwaukee Gas L 1st 4s.. 1927 VCF
Gas g 6s.... 194H J-D
i*oT*
102%
kaiAAGR
SeeTol
L SAAOMC S
A Mich See
107*3
-
85
88
....
106*al09*4 107*aOct *10
-
0
94%
....
....
06% sole
B
101
an
-
JfewarkCon
105
«•••
84*4
07
02% 97%
103% 104%
J-J
J-J
Minn See St PM AM
JCiast Ten Va A Ga See So Ry
Elgin Joi A East 1st g 6a. 1941 M-K
Elm Cort A No See Leh ANY
Erie 1st consol gold 7s....1929 M-S
N Y A Erie 1st ext g 4s 1947 lYl-xS
2d ext gold 6s
1919 M-S
Sd ext gold 4<as
1923 iVt-6
Ath ext gold 5s...
.1929 A-O
6th ext gold 4s
1928 J-D
NYLE&W 1st g td 78.1929 M-S
Erie 1st con g 4s prior..1996 J-J
r
Registered
1996 J-J
1st oonsoi gen lien g 4sl996 J-J
Registered
.....1996 J-J
Penn coil tr g 4s
1951 F-A
69-year cony 4? A ....1953 A-O
do
Series B. 1963 A-0
Bud hi ^ A Erie 1st 7s..1916 J-D
Chic A Ene 1st gold 6s..l982 M-K
Cloy A Jrialion Val g 6S.1938 J-J
Long Dock consol g 6S..1935 A-O
Coal A UR 1st cur gu Os.1922 M-K
Dock A imp 1st cur Os.. 1913 J-J
N Y A Green L gu g 5s.l94t> rtfl. N
N Y bus A W 1st rer 6a.i937 J-J
2d gold 4 Sis.
1937 F-A
General gold 6s
..194u F-A
Gas and Electric lught
*1
Atlanta G L Co 1st g 6s...l047'
Bkiyu U Gas 1st con g os. 1045
Buffalo Gas 1st g 5s
1947
Columbus Gas 1st g 6s.... 1932
07%
100
li
-
.
193
16
4
■
I
02*s
*7*9*
01
06% 102
123% 130%
191
J’ly’09
126
jHifjfi
'05
97
:wi
Lotv
J’ne’Ur
05*4 101
Rook Val 1 st oonsoi g 4 *ss. 1999
Registered
1999
Coi A H V 1st ext g 4s.. 1948
Col A Tol 1st ex 4s
1965 F-A
Houst E AW Tex See bo Pac
House A Tex Cen
bo Pac Co
I ilinois Central 1st
g 4s.. 1951 J-J
J- Registered
1961
lstgold3*ss
1961
Registered
.......1051
Extended 1st g 3 *as
1961.
1st gold 3s sterling
1051 M-S
Coll Trnst gold 4a.
1962'A-0
Registered
1962 A-0
1st ref 4s
1965 M-N
L N O A Tex gold 4s ...1063 M-N
120%
100
....
90
...
101
92 *s
120
....
Aug»01
04*3 03*3
102*3 104*»
07
117
A pi
A-0
A St JoSeeR
u
Han
See OB
onaatonie
YJN A
HAH
«»•*
Oct1
*9 8 * ”y*8s, 08*4
190*3 101
98*4 90*4
03% 96*s
....
Feb
••••••
113
107% 119%
07% 101
....
Oct
09
l92**
120
149
••••••
M-N
gal
ol So
LaneA Atl
SeegNor
Pao
Short
Shore
6S..1937
L'&stot
.
108 *3 Oct *10
112 % Se;
127 J’*
94
Se
b
Deo'Of
101
Aug’10
Sep ’lo
109
Since
January 1
771 gn A o
Oct ’90
02
84
Greenbrier By
Gulf A
Range
or
.sat-c
86
*3
100
Ask Lotv
114
1J 5
101 % 101
114
05
101
i:i
67
•
110
Registered
1033
Dakota ext gold 6s....1910 M-N
Mont ext 1st gold 4s.. 1037 J-D
Registered
1937 J-D
B MinnNorDivlst
g 4sl048 A-0
Minn Union 1st« 6a..1922 J-J
Mont C 1st ra g 6s....1937 J-J
Registered.
1937
1st guar gold 6s
1937
Will A 8 F 1st gold 6s 1938 J-D
;;;;
07 %
J-J
A-0
i'-i
Registered
1933
Reduced to gold 4 *ss 1033
il9
110
196*4
Range
Last
86
Ga Car A Nor
See Sea A Line
Georgia Pact do See bo Ry
Gila VGA Nor See So Pao Co
Gouv A Oswegat See N Y Cent
Grand Rap A Ind see Penn KR
Gray’s Pt Term See St L 6 W
Gt Nor—C B A (J coll tr 4s 1921
Registered. A
1921
St Paul M A Man 48....1933
1st oonsoi gold 6s......1933
08
108
J-J
A-0
A-0
<' ' ai Har A b A See So Pac Co
Tai H A H of 18821st Ss.1913
Georgia A Ala
Sea A Line
00
....
-
90
97
196
*8*6** *87%
101%107
6
94*4
94*s
108
mmo
Week's
hridav
Oct 23
Bid
iVC% ii4%
iof
a
EvA Ind lstocn gug6s..1926
Erie A Pitts See Penn Co
Evans ATH 1st cons 6s. 1921
1st general gold 5s
1942
Mt Vernon 1st
gold 6S..1923
bull Co Branch 1st
g 6s. 1939
Lrnrgo A So See Ch M A St P
I lint A Pere M Am
Pere Mar
FiaCAPewn See 8ea Air Line
Fort St U D Co 1st g 4*88.1041
Ft W A Rio Gr 1st g 4s...1028
108% 112
88
03%
DakAGtbo
CM
A St P
alias A Wacosee
See
MEAT
Registered
N. Y. STOCK EXCHANGE
Week Kwoino oct 28
....
118
195
106
[Yon. lxxxxi.
Price
,
Since
January 1
Marq
OhocOAGulf £««CRIAP
Oin M A D 2d gold 4%s...l937 J-J
CinDAi 1st gug 5s...1941 M-N
LOFind A PtW J«»t£u4sg.’23 M-N
Cln 1 A W 1st gu g 4s. 1953 J-J
Ind Dec A W 1st g 6s...1935 J-J
1st guar gold 6s
1935 J-J
01 St DAO bee O U C A St L
Oln SAC See UOOStL
Clearfield A Mali See B R A P
Olev Cm C A St L gen g 4s 1993 J -D
Cairo Div 1st gold 4S....1939 J-J
Registered
8pr A Coi Diy
RONDS
Range
'
....
...
Ghic A W Mien
Record—Continued—Page 2
<*
-
Light’g
«Due May
g
5a.l05o
J-D
£ Due J’ly
100% 102
8J
99
08
90
04% Aug’UO
100% 101 Mai’10
i00
102
Sep TO
£ Due Aug
q
AugTo
80 ~
110
HI
111%
100% 101%
••.••••
01
116%
101 *e
102%
100%
93
119
104
104%
192
L01
99
08
10 f*
106
100
6 LOO
103%
Alap05
Jan ’08
103%
Due Deo
*
Option bale
Oct. 2#
New York Bond
191-0.]
•v
•u
BONUS
A*
O
Friday
Oct 28
gold 4s
1949
Bklyn A Mont 1st g 6s..1911
1911
1st 5a
N Y B A M B 1st con g 6s 1935
K Y A ft B 1st g 6s
1927
NerShB 1st con g gu5s ol982
Louisiana A Ark 1st g 5a.1927
Louisv A Nasnv gen g
Gold 5a
Unified gold 4s
M-S
M-S
MB
A-O
M-S
u
J-D
6s.1980 M-N
1937
1940 J-J
Registered
1940 J-J
Sink fund geld 6s........ 1910 A-0
M-N
Coll trust gold 5s........1931
£UA Nash 1st k 6s. ...1919 J-D
L Cin A Lex gold 4‘ea... 1931 M-N
NOAM let gold 6s....1930 J-J
J-J
N O A M 2d gold 63.....1980
M-8
Pensacola Dir gold 6s...1920 M-S
St L Dir 1st gold 6S.....1921
M-8
gold 8s
1980 M-N
Atl Knox A Cin div 4a.. 1966
J-0
AU Knox A Nor 1st g 5sl940
M-8
Hender fidgelstslf 6S.1981
J-J
2d
Kentucky Cent gold 4s.. 1987 M-8
LAN A M A M let g 4*s 1945
LAN-south M joint48.1962 J-J
F-A
N Fla A tt 1st gu g 6s...1981
NAOBdgcgengug4*sl946
Pens A
AUlst
gu
SAN Ala con gu
Aeft Low
Bia
Guar ref
Weelft
Range or
Last Sale
Price
N. Y. STOCK EXCHANGE
Wekk BRUIN** Oct 28
Long Island—(ConJ
g 6S..1921
g 6s..1986
Registered
1990
Htmpd tax exempt.. 1990
SoK’pt
A B V gAesN
Cent
Y Cent
4s
1911
106
109
97
115
Apr'07
118
Bale
97*a 98
118
113
96
114*4 116
108
....
112*....
104
106
121
116
106*4 HI
118* ....
68
....
J-J
98
....
110*4
F-A
F-A
A
0
O
A-O
A
J
1977
98 Hi
109*3 114
94
96
111* 115
i'07* ilO*
113
Ma>*»09
Pacitio Ex 1st gold 6s...1921
South West Ex 1st g 7s.l910 J-0
1st oonsoi gold 6s...
.1984 M-N
1st and refund gold 4a..1949
Dea M A Ft D 1st gu 4S...’86
Minn A St L gu Ass B ORAN
J-J
SSMA A 1st g 4 ml gu 1926 J-J
, ,
Minn Un Ass St PM AM
Mo Kan A Tex let g 4S...1990 J-D
2d gold 4a..
0*990 *-A
1st ext gold 6s
1944 B-N
1st A refund 4s
...2004 M-®
W
SStPASSMcong4intgu'88
Dai A Wa 1st gu g
Registered
.....alVl7
1st ooU gold 6s
1920
40-year gold loan 4s
1945
3d 7b e*td at 4%....
1938
1st A ref conv 6s
I960
Cent Br Ry 1st gu g 48.1919
Cen Branch U Pl*tg4a.l04b
Letov A C V A L 1st g 5a 1926
Pao R ol Mo 1st ex g 4s. 1938
2d extended gold os...1033
St LlrMASgeu con g 681931
Gen oon stamp gtdg 6s 1031
Unified A ret gold 4s..l029
Riv A v* D»v 1st g 4s.. 1933
Verdi V 1A W 1st g 6e.l926
lfd* iio*
99
99*4
•mmmmrn
76
••••••
.—
•••»•
97
104
97*4
Apr’06
99
*4Oct *iO
99
100
MobJ A K Cist cons g 6&.1953
Mob A Ohio new gold 6s..1927
1st extension gold 6S..A1927
1936
MontgamDiv 1st g 6s..1947
St LA Cairo ooR g 4s..«1930
Guaranteed g 4s
1931
General gold 4s
MAO ooU 4s
180
Ill
.....
•eeees
«•••«
......
72
97*
.....
99
108
75
92
97* 97*4
84S* Sale
97*
•
|6*|
104
109
HO
93
93*
97*4
Sep TO
Registered...
JL A S latg 3*s
1st g 3*s
1940
1951 M-S
106
....
108
-.j.107
111
100
102*
99* 99*
100
102*
29 76
81*
89
86
91*
86
95
(110
Dec '06;
McM M W A A11st 6s..1917
TAP Branch 1st 6s....1917 J-J
Nash Elor A She! See LAN
Nat Rya ol Mexpr I4*s 1957
Guar gen 4s............. 1977
Nat ol Mex prior uen 4 *s. 1926
1st oonsoi 4s.............1961 A-O
New MAD SeeH Y N HAH';
N J June RR See N Y Cent
N Y B km A Man Boh See L
N Y Cent A H Riv g 3 *38.199
82* 87*
102*102*
St Paul A Dui lat 5s. ...1931
2d os................
1917
ns** iuT*
1st oonaoi gold 4s
1968
Wash Cent 1st g 4s......1948
Nor Pac Ter Co 1st g 6s..1933
114*117*
86* 90
IB 107
109*
*94* *96*
199
Registered
Dehen g 4a—
Z984U-«
Lake Shore ooU g 3 *s...l99s F-A
Registered.............19981 F-A
106*110*
• •••
i
Sl|
94*
Alien
98* 96*
87* 02*
100* 102*
82
Sod
86
U
Convertible deb g
•
6s.... 1911
Jeft A Clew CAI 1st g 68.192*-)
Kan A H C A C 1st a { g 6s.l9ol
Pocali Oon Collier 1st a f 5s.’57
Sunday Creea Co g 6s....1944
Tenn Coal gen 6a.
1961
Tenn Div 1st g 0s
al917
Birm Div 1st oousol 6s..1917
Osh 0 M Co 1st gu g Os.1922
De Bar C * 1 Co gug 08.1010
Victor Fuel 1st s 16s
.1953
Vglron Coal AColst g 5s. 1949
05
98*
98*
79*
FA
F-A
F-A
77
A-O
90
100
t
......
J-D
J-J
J-J
J J
J-J
07
......
99* Nov’09
96* J’ne’10
70*
70*
8
io7*Dec’04
88
73
102
J-D
Sep’D104* Oot TO
104
Sep TO
100
......
......
......
110
LOO
F-A
J-J
M-S
37
03
99*
-
—w
101
96*
62*
»****§
•
•
•
• * •
••••••
-
....
83
83
ii>2
ioi*
**-
103
107
103* 107
Jan'00
Jan 1
Aug’00
99,
99
96
93
70
....
J’nsTO
Feb’07
103
104*106
104*106
101
••••••
•••
6
J-J
A-O
•
94 Deo’00
98*
08*
102* Apr’06
107 May’07
105* Deo’06
93* 93*
93 Salt
100
122*
120
107
109* 113
93*
93*
93*
93
10
26
42
102
100
90
68
92
92
92*
92
"
95*
85*
Uct '07
Dec '09
130* Jan '09
109
100
......
97
119
98* 99
98* 93
ue’OG
Jan To
Dec ’09
90
87
J’ue Ub
*87’* *89*
90
’*99* aids’
98*
J
99*
100
91*
’Too
99
100
87
90
89
92*
9*7* ibo*
19
Dec '09
91*
81*
99*
92
90
99*102*
96*100*
101*
99 V
101
101*
99” ”99”
Apr’10
91* Oct TO
92
91
110* 110*
110* Oot TO
too
fc
100
94*100
134* Sale
101*
112 121
100* ....
101
86*
16 130* 135*
135
102* 70 96* 103*
112 V Oct TO
112*110
L07
Aug’U9
134*
101V
96*
J'ne'06
95
98
101
MayTO
126* Sep TO
100
123
101*
120
ilaJTU
123
MayTO
99*'
99*
124*126*
123
124*
96*
97*
101 *
100*
125
120
132*128
121* 125
99 * sale
97
Apr’lU
93 * Oct TO
* 93 *
116*8ale
99* 100*
88* Oct TO
96*
36
96*100
116*
97
97
91
136
93*
94*108*
86* 90*
104*100
94
96*
Apr’iO
96*
116*
120*
99
34'
102*
98* 191 F
64* 74
6J
72*
96* 97*
68
....}
99
99
1
116*118*
iVi*
104
oct’ro.... 102*108*
103
102
110
109* Jan’09....
i02»* uct TJ!.... 102* 100
98*
99* 19 98* 102
Aag*lo!...J-102
104
102
98* salt
96
reglt 937
JX». 1941
100
Oct TO
97*
94*
96** 194
103*
103*
12 101* 104*
102* 102*
....
...
iU3*Dec’09
102
Jan’03....
103* May TO....
103*104* 104* 104*
1
10a
103* Feb’10!....
90
88*
Aug’l J
88* 90
88*
c8*; 1
97* 98
97*
98*
8
89* 87 Aug’10....
88* 90* 91
Dec’09....
....
100
103
103
....
....
......
104
106
103* 103*
90
90
....
M
Tr Co oertif*ang 3*8.1916
Gu 3*s tr ctfs C.........1942
Ga 3 *s tr ctfs D
1944
i
91*
68
98*
87 90
95*
!
Next Page
(Hanufacturing <& Industrial
Allie-Chaimers 1st 5a.
1936 J-J
Am Ag Chem 1st c 6s
1928 A-0
Am cot OU ext
95*
103*
94*
101*...
Ray A So 1st g SS...1924
’trust
Sale
102*
HTrr A can gen4a.l»44
4*s
1916
n
Am Hide A L 1st s £ g 0s.. 1919
Ainer lee secur deb g 6s.. 1926 A-0
Am Spirits Mfg 1st g00.. 1916 Jd-S
Am Thread 1st 001 tr 4s..1919 J-J
Am Tobacco 40-yr g
6s. ...1944 A-O
4a
.........1951 F-A
3eth Steei 1st ext si 6s.. 192b J-J
ent Leather 20-year g 6a 1925 6-0
one T Tobacco g 4s....... 1951 F-A
jorn Prod Ref Big 5s.... 19St S-N
1st 25-year si 6s.........193a E-N
Cuban-Amer Sugar call tr 6s T8
Distil ««o Cor conv 1st g 6s.'2 < A-O
fi 1 duPont Powder 4 vs.. 1936 J-D
.
price Friday; lateatinfl and asked- aDualan 6 Due Feb < Due May j»n« ;’ue \Due
89 * bale
101* 102*
80* 91*
117
11/
Feb’10 ...117
112
10?*...... llo J’ue’10 ...110 no
103
Oct TO ...!l03
103*
90* Apr’10
90* 97*
93 ‘
89
92* Jan ’09
111*
111* *6 iid*
Ill*
yai gen gu g 4a... 1942
4 *8.1921
87* 9ft
86* 90*
11
89*
»•
«••»•*
92
See NYC
Penn Co—Guar 1st g
86* J’ly TO
96*
04*
94* 8' 92
61* 22 79* 82*
80* 81* 81*
78
80*
78
80* 80* Oct TO
••••••
100
•
DBRRA Bge 1st gu 4s g.’30
PhiiaBal A W 1st g 43..1948
94* Sale
88
Bale
...
Consol gold 6S...........X919
Consol gold 4s
......19
Convertible g 3*a.
19
Convertible g 8*s.„....49l6
Consol gold 4s
1948
:d
100* 104
lo0*Sep To
83* 84* 84*
86
#6
ibT* i‘04’
ao
JU18CKLL 4.NKGUE RUNDE-4*uMDM*ed on
Coal and Iron
Rufl A Susq Iron s 15s....1932 J-D
Debenture 6s....
a 1926 M-S
Coi a A a co gen s t g 6s.. 1943 F-A
**98*
ib*7” i’l’d”
100*
100 Sale 100
99 *
99*
9J* bate
7i*
71
71
7 a*
70
Sep
TO
♦70*....
Mar Tu
97
96
99
Feb TO
99*...,
ol Missouri See Mo Pao
Penn RR 1st real eat g 48-1923
»
91* 91* Oot TO
S7
95*
Nor Ry Cal See bo Pao
Nor WiB See C St PM AO
Nor A Mont See N Y Cent
i k JLnd AW
See 0 C C A StL
KJbio Riv RR See salt A O
Ore A Cai see So Pao Co
Ore Short Line see Un Pao
108*110*
109*
89
98* 99*
1C3
95
84
.....7105*
106
Registered certifies.. 1923
80
X
89* Sale
90*
*93*’ ”93*
’oy
Oct ’ 10
106
Jan ’Os
104
J’ue’iO
102 * Fob TO
84
84a<
92
J’ne’09
J’ne’09
115
Feb '08
126
100
Sep T0
Oct TO
92
89
89*
90* bale
pao Coast Co 1st g 5S....1946 J-D
94*
j’ne’Vo
13£ v "fan
88* 89 *
St Psul-Dol Div g 4a....1996
Dui Short L 1st gu 5s.. 1910
C B A <4coiltr4a £<#GtNor
St P A N^P gen g 6S....1923
Oswego A Rome
94* Sale
97
106* 110* 107
100
.1997
General uen gold3s....«2047
Registered
«2947
113
See Southern
106*.—. 106* Oot TO
uot TO
...... 110
\ 1 ft*,
116*May’07
1U6*
117* Mar’06
106*
113 J’ly ’04
96*
82*
Registered
105*110
....
Jasper Branch 1st g 6s.. 1923 JJ-J
DiVi 1st 1A gen g4s... 1944
10-25 year conv 4s.... 1932
Pocah O A C Joint 4s.. 1941
C O A T 1st gu g 5s
1922
&OlO V A N E lstgu g 48 1989
North Illinois See Chi A N W
North Ohio See L Erie A W
Nor Pao—Prior Ren g4s..l997
87*
81
1096
Registered.
98~ ibo*
J-J
J *D 117*121 117*Oct’lo!
114*3Sep TO
S'J 114*117*
90
86*
86*
M-S 85
109* 109*
F-A 109*.
80
75
May’08
**F
94
96
94* Oot TO
J J
Mohawk A Mai AwN X O A R
Monongaheia Riv Am RAO
Mont Cent See St P M A M
Morgan's La A X See S P Co
Morris A Essex See Del LA
M ash Chat A St L 1st 78.1913 J-J
Is 1st oonaoi gold 6s
1926 A
N A W Ry 1st oon g 48.1996
2j 100*105*
102*/an To
98
1962
f20-year deh 4s,........1029
.....
«f-S
a
....
95* Nov’09
98*
93*
MayTO
99
.
92*
93*
87 *May’10
110
Mar’06
99
97
96*
&:
85*
36
88 Apr'09
105 J’noTO
110* 112 * 110
107*108
106*
84* 85
84* 85*
96
1931
1940
:
84*
IlO* Apr'09
105
Sep To
Registered
48
62*
7o* 79*
105
i>cv 02
93
Aug'10
108
Oct ’09
98 V 96 * Oct ’ 10
108*
99*
Jiign,
78
.
8i*
102
103* 103* Sep To
80*
80* 80* 80*3
85
i:J
A-O
|t c A Stur 1st gpg 38.1989 J-O
Y Ohio A St L 1st g4s 1937 A-O
106" loo"
Registered
1937 A-O
Debentures 4s
1931 M-N
West shore 1st 4s gu...2301 J-J
2361 J-J
Registered
N Y A Greenw Lake See Erie
131 131
••W
N Y A Mar See if Y C A Mud
•WWA 4MM4
N Y Lack AW See D L A W
100*101
N Y LEA W See Erie
102* 109
9 67* 81* N Y A Long Br AteOentofNJ
87
91* N Y N M A M—Conv 6s..1948 J-J
Conv deban 3*s
1966 J-J
Mousatonic R oon g 6s. .1937 M-N
98*100
N M A Derby eon ey 68.1918 M-N
98* 98*
N EANorth SeeN x CAM
N
Y O A W ref l»tg 4s..0l992
96*100
82
87*
Regis 65*000 only
.pi 992
N Y A Put SeeiTX CAM
100 105
73* 85* N Y A R B See Long Island
6 83* 90* N Y S A W See Erie
NY Tex AM NseSoPaeCo
Nor A South 1st g 6a.„...1941
iuft
105
1931
90
93* Non A West gen g 6s
1106 113
Xmprovem't A ext g 6s.. 1934
New River 1st g 6a.....1932
T03
108*
13 i
97* 97 * Sep To
98* Jan To
Low
97* Apr’09
98*
J-O
A-O
F-A
M-N
J-J
94 *
27* 31*
99* M&r’io
M-S
F-A 100*102 101*Sep To
78
Y8*
**•» 78* sal*
98*
J-J
A-O
A-0
J
M-N
M-N
A-O
A-O
AO
2d guar 6s
.......1934
McKees A B V 1st g 6s 1918 J-J
Mich Cent 5s
1931 M-S
75** *77*
veh’os
MayTO
May TO
U8 Jan'07
100* J’ljrTO
107 Oot TO
73
73*
87 Mario
Range
Since.
January 1
84*
f:i lio^ii'e’
93* 98*
31* MayTO
25 * Apr '09
77 Mar’10
80
Week’s
Range or
Last sale
ibV* III”!
F-a
Ka A A G R 1st gu c 5s. 1938
Mahon Cl RR 1st 5s..1934
Pitts A L Erie 2u g 5s.al928 A-0
109*114
88* 92
HO
Cot *10
M-N 107
M-b 191*101* 101* Oct TO
F-A
J-J
A-0
J-O
J-D
M-S
OgALCbam lstgn4s gl948 J-J
Rut-Canad 1st gu g 4a. 1949 J-J
St Law A Adlr 1st g 5s. 1996 J-J
2d gold 6s
.......1996 A-O
Utica A Bik Riv gu g 4s. 1922 J-J
Lake Shore gold 8*s....l997 J-D
.......1997 J-D
Registered
Debenture g 4s
1928 M-S
25-year g 4s
f._lV3l (M-N
94* 97*
110* Oet ’lU
109*3 j’ly TO
92
92
*88 "i ”99
......
M-N
f•
* *A
J-D
J •J
2d gu gold 5s
.....1936
Beech Or Ext 1st if 3 *s 51951
Cart A Ad 1st gu g 4s...1981
Ghouv A Oswe 1st gu g 5s 1942
Mob A Mai 1st gu g 4s..1991
N J Juno R gu let 4S...1986
N Y A Harlem g 3*e...200U
N Y A North 1st g 5s...1927
N Y A Pa 1st con gu g 4s 1993
Nor A Mont 1st gn g &S.1910
Pine Creek reg guar Os. 1932
R WAOcon lsfcext58.41922
Oswe A R 2d gu g 6s...<1915
R W A O T R 1st gfi g 53.1918
Rutland 1st eon g 4*s..l941
102
106*
89* 92
90*
ioJ*......
F-A 89* 91* 91 UCt TO
A-0 110* Sale 110* no*
W-N 106* 107* 108* Sep TO
104* 104*
M S 104*106*
109
M-8
114
106*111
96** 97*
fYiday
Oct 28
Pitts McK A Y 1st gu 08.1932
&..1940 M-N
Kan C A Pao 1st g 4s... 1900
Mo K A E 1st gu g 6s... 1942
M K A Ok 1st gu 5s
1942
M K A TolT 1stgug6s.1942
Bheruh A So 1st gag 58.1943
Tex A Okla 1st gu g 6a... 1943
lio Pacific let con g 6s ...1920
Trust gold 6s atamped.<*1017
,
A Sis. Lo u<
Blu
Jiiyh So
N Y cent A H Lir—(Con)
8J * Sale
60*
8t*
Mich cent coll g 3 *s....1998 F-A
F-A
79* 79* AugTO
Registered....
1998 J-J
98
Oct
TO
98*
Beech Creek let gu g4s.!939
102
Mai’04
Registered
.....1930 J-J
91*’ *95*
Sep *10
J*iy 06
Jan'09
95
Sep'1C
See N Y Cent
KidofNJ Ass Rne
Mil L 8 A W Ass Ohio A N W
J-D
A-0
100
125*
103
124
Mioh Cent
SUInnA ANorth
ASsChMAStP
St L 1st
gold 7s..1927
110
107
106* Aug’lo
ly
Stamped guaranteed. ...1977 M-8
Mex North 1st gold 6s....1910 J-P
112* 116*
112*114
90* 100*
Sep '10
118
71
Price
N. Y. STOCK EXCHANGE
Wekk endiku Oct 28
......
100
May’OO
100‘s Deo'09
107 *3 Sep *10
115
* 15
105
Oot’lO
124
Mar'10
120 Jan *09
10734 Mar’10
98*a
116
110
95*4 95
106*» 102
81
90*
F-A
Higtl
94* 100
Sep'10
95*3
95
102
January 1
No Low
6
Nov’06
Nov’OP
9734
....
......
Since
101* Dec'08
110*4 Nov’06
101
101
94*
....
cons
letoona mo g 8s
ol939 J
2d oons me g 8s trust roots..
M-8
Mex Internet 1st eon g 4a.
ex
.....
S5
••••••••
*•••••
108
BONDS
Range
ns
Nt^/i
97
07
96*
106
fc^TS^'i;1945"'8
MahonCoai
SmLSAMS
auliattan Ry
oousol 4a.1990
1145
Record—Continued—Page 3
f’ly fcDus -Vu*
0
73* sals
78
102
Bale 102
98 * 98 * 98*
94
95
04
68* 72
97
101
68
101
91* 93
93
1U6* Bale 196*
8u*
89* Sale
80* Sals
86
09* baa
99*
80
89* 80*
95
83
95
73
84
Dus Out
95
78*
J02 S,
72
11 100
1
93*
2
Oot TO
Oct 10
92
67
04
80
Oct TO
98
98
94*
Sep TO
94* Oct TO
II
TV 168
85
108
0ft*
102
78*
101
98
190* 83 104*109
8u* 300 76* 85*
83* ftft,
80s.
9j* lu: 97 102
20
70*
80*
96*
85
84*
16
J’ly TO
uDaaXov qDue Dee
93%
90
67
86
-
7Flat.
1146
;
BONDS
N. Y. STOCK EXCHANGE
^
Week ending mer 28
tflh
e*
££
Fennsyivauia Co—(Con)
Guar 15-25 year g 4s....1931
Cl A Mar 1st gu g 4%s..l935
Cl A Pgen gug4%sser A.’42
Series B
1942
A-O
82%
os
104%
|
,
!
Philippine By 1st 30-yr si48*37
! Pitts
Cm A St Li see Penn Co
Pitts Cleve A Tol tiee B A O
pitta Ft W A Oh tiee Penn Co
Pitts MoKeea A X tiee N V Ceu
: Pitts Sli A L B 1st
g 6s... 1940
1st consol gold 5s
1948
Pitts A West tiee B A O
! 1) eading Co gen g 4s
1997
104*9 106
104% 105%
104% Aug’lO
104
107
107
Hot ’08
i’00** ibo”
109
May* 10
100% 107Hi 107 Oct’10
106*9 1067t 107
Oct’10
100*9 Sep '10
....
112
99
96
97>«
J’ly’10
112
95
Oct’10
105
106
89
94
90*9
112
95
71
100
79
101
101
101
106
88
90
102*4
108*» 112*4
89%J*iy'io
!
112
116
May’10
112
111
112
03% J’ly'97
98*9 Bale
98*8
99V
.....1997
\ Jersey Cent coil g 4s...1951
! Bensseiaer A Sar tiee DAB
\ RlcJi A l>an tiee South By
;
98%
»8%
D
97
95
96
97%Sep
97*i Cot *10
100
98*4
98*4
tiee Southern
West tiee Hen A Bio Gi
Rooh A Pitts tiee B B A P
; Rome Wat A Og tiee N X Cent
Rutland tiee JN X Cent
iStLMbr
84
88%
S W So
1st tie*
SttH
Cent
Houis
Illinois
g 48
Od Otis.
1989
2d
g 48 inc bond otfs...pl888
Consol gold 4s
1932
Gray’s Pt Ter 1st gu g 6s 1947
88H
8g%
88* 94
Minn
Apr’10
Sep’10
120
107
90
92
b7
Sale
9l%Oct'lo
86 >4
87*4
Safe
99*4
81*4
uy
81 *s
1*«4
77*
117
77*4
78*9
loo
100*4 DeC'Uy
96* 98*9 98®, Aug’lO
91
91*
80
30
Oct *10
76
76*9
124
108*
91’,
84
99
90
100*«
78*9 86
117*9
76*9 82*
114
11
96*4
91%
91%
81
Sale
76
95
120
105
90
99%
^
Sep 10
bale
88
79
”97“
93%
82
72*9 79%
101*, Apr’07
P
St Paul
A Hui
A Man
tie* Nor Paoihc
2s’or
t
tiee Gt
tie* -Nor Pac
ft P A Nor Pao
BtP A S’xCity seecst pm Ao
BAA A Pass 1st gug 4s... 1943
S F A N P 1st sinx t g 68.1919
Bar F A West am Atl Coast L
Scioto Val A N fa. tiee Jsor A W
Seaboard A L g 4s stamped *5 u
Coll tr refund g 6s
a 911
Adjustment 6s
ol949
AU-Birin 30-yrist g 4s.«1938
Car Cent 1st con g 4s...1949
FlaCen A Pen lstg os. 1918
*
1st land gr ext g 6s ...1930
Consol gold as
1943
Ga A Ala By lsl con 6s ol945
GaUar A -No 1st gug 6s 1929
8eal> A Boa 1st 6s.
1926
Sher Stir A So tie* MEAT
Sli Sp oca ao tiee Ati coast L
Southern Pacillo Co—
Gold 4s (Cent Pac coil).*1949
Registered
*1949
20-year cony 4s
pl929
Cent Pac 1st ref gu g 4s 1949
Registered.....
.1949
Mort guar gold 3*as..*1929
Through st B 1st gu 4s ’64
GHASAM APlst6s..l931
Gila VGAU 1st gug 68.1924
Bous fa- A WT 1st g 68.1933
1st guar 5s red.......1933
B A T C 1st g 6s int gu.,1937
Consol g 6s int guar...1912
Gen sold 4s int guar..1921
Waco AH W diy lstg 6s'3o
A A N \V 1st gu g 5s.... 1941
Morgan’s La A T 1st 7s.l8l6
1st gold 6s
1920
No ol Cal guar g os
1938
Ore A Cal 1st guar g 6s. 1927
Bo Pac o! Cal—6s fa. A V.xuaj
1st gold 6s
1912
1st oon guar g 6s
1937
8 Pac of N Mex lstg os..1911
80 Pao Coast 1st gu 4s g.1937
Tex AH OSabHivlst gos.1912
Con gold 6s
1943
'
-
l 94%
108*, 108
86
103
86
J-J
J-J
J-J
J-J
J-J
A-O
J-J
J-J
J.oiv
95
76*4
90
-
108
88
May’09
76*4
70‘s
86 *a
86%
108
Sep ’10*
85
108
Jiu/h
93*4 95%
103 % 111%
10’J
110
*70*4
M-S
High,
”73** ”«i%
85
106
85
80%
90%
110
87
1(>0*S
Pep ’08
88
93
03** *93%
Sep’lo
2d4s
1948
92 J’ne’06
Atl A Xad 1st ggoar 48.1949
’Yd”
Col A Greenv 1st 6s
1916
106
1109
J’ne’Od
£ T Va A Ga Hiv g
5s.. 1930
106*4 109 110 Feb’lO
106
110
Con 1st gold 6s
1956 M-N *110*« 111
111
Oct *10
109
114%
E Ten reor lien g 5s
1938 M- S 100*,
106
Feb’lo
106
106
Ga Midland 1st 3s
1946 A-O
67
06
Nov’09
Ga Pao By 1st g 6s
1922 J-J i Vs
It3%
Sep’10
Knox A Ohio 1st g 6S...1925 J-J 116
Sale 116
HO
1114 110
Mob A Bit prior lien g 6s 1945 J- J
106%
116% Apr’06
Mortgage gold 4s
1945 J - J
70
82
Nov’OS
Rich A Dan con g 6s....1916 J-J
104 *0 107% 105*,Oct ’10
1105 % 106%
Deb 5s stamped
1927 A-O 104%
'T05 >« May’10
105
107%
RiOh A Meok 1st g 4S...1948 M-N
71
I 75 Oct’08
So Car A Ga 1st g 6S....1919 M-N 103%
'108*4 Oct ’10
ibT*
i‘04’*
Virginia Mid ser C Us...1916 M-S 106%
1112 Oct’06
senes D4-5s
1921 M-S 10:1%
Il08*s Dec "00
Senes B 5s
1926 M-S 105%
'107%
Heo’09
General 5s
1936 M-N 106%
‘103% J’ly 10
105% 107%
Guar stamped
1936 M-N 106%
1105*, 105%
1 106% 105%
W O A W 1st oy gu 4s..1924 F-A
80
91
Feb’10
01
91
West N C 1st oon
105
g 6s..1914! J-J
106% May’lo
105 % l06%
SAN Ala tiee LAN
|
Spokaue Internal lstg 6s 1955 J-»
100
106% 8ep ’09
f er A Of St L 1st g 4%S..1939 A-O 104 100 104% 104%
1 104%107 %
1 1st con gold
6s....1394-1944 F-A 110
109
Ang’10 ...‘100 115%
Gen refund s I g as
1953 J-J
93
Oct
’10
98%
II 96
98%
St L M Bge Ter gu
g 5s. 1930 A-O 108
109
109
May’lo
109 109%
Tex A N O tie* Bo Pao Co
|
Tex A Pao 1st gold 6s
2000 J-D 110
110%110% 111%
8 108% 112%
2d gold mo 6s
o2000 Mar
66
70
Mar’lO ...‘I 70
70
La Hiv B L 1st
g 6s
1931 J-J
98%
103
Sep ’09
W Min WAN
Wlstgu 6s 'JO F-A
Nov’04
106%
Tol A O C 1st g 6s
1936 J-J
107% bale 107%
107%| 1 100 112%
Western Hit 1st g 6s...1935 A-O
105
112
Sep ’U91
General gold 5s
1935 J-H 101% 108
99
00
Aug’10;
104%
Kan A M 1st gu
g 4s
1990 A-O
94% Atari d
90% 94%
Tol P A W 1st
J-J
gold
4s....1917
93
Sep
’10!
92
J
93%
Tol St L A W pr lien g 3 *a8.1925 J • J
88 %
87
Aug 10
00
|1 07
60-year gold 4s
1950 A-O
70
77
Oct 10
70
81
Coll tr 4s g Ser A
1
..1917 F-A
82
84
81
Oct 10
80% 86%
Tor Ham A Bun 1st g 4s. A1946 J -H
86 *4
89
J’ne'10 ..J 67% 01
103*107
103
J’nelO1
100
100
oon g 6a 1928
J -H 84 87
1st refund g 4s.
1952 A-O
86
cot ’o9
UnPao BB A igr g 4a...1947 J-J 101% Sale
101%
101% 100 99% 102
Hegistered.....
1947 J-J
100
loo
Oct *10
98*, 101%
20-yrcouv4s
1927 J-J
loo % ?<aik 104*4
ii>5% 245 101 116%
1st A ref 4s
96*4 9< % 96%
..y2008 M-S
9 < % 02
96
98%
Ore By A Nav oon g
96*, 97 | 96%
48.1946 J -H
6
90%
94% 98%
Ore Short Line lstg6a..1922 F-A
ll4*ii 115*, li6
9
li3%
117
lt6-x|
1st consul g 5s
111 % i.12
1946 J - J
112% Oct’10
108*4 113%
Guar refund 4s
1929 J-D
93% sale
93%
93*« 24 91
94%
1
Begistered
1929 J-D
94
Jan ’od
Utah A Nor gold 6s.. 1926 J-J
103
Hec ’09 im>mm mm
107%
Uni N J BB A C Co tie* Pa BBi
Utah Central tie* Bio or Wes
Utah a North tie* Un Paoino
Utica A Blaok B tie* N X Cent'
Ulster <fe Hei 1st
117*
106*108
J
Os’rk A Ch u 1st gu 5s g.1913
95
i*ri%ii3%
...
tiee T RR A ol St L
fUCAM
Ft S ABAM Blstgu68.1929
By ret g 4b 1936
108
J-J
J-J
A-0
S hue
January l
9?%*93%
L'aa Tus A H tiee Pere
Marq
OtJoAGr lsl 1st g 4s...1947 J-J
ft Li A Cairo tiee Moo A uhio
jSt L A iron Mount tie* M P
i St Louis A S F—J-eng 6s.1931
| General gold 5s
1931
!
8t L A S F BB 0011s g 4s..’90
|
15-20
Gen
yr os
1927
Southw Hiv 1st g 6s.. 1947
1
Refunding g 4s
1961
!
R O Ft S A M con g 6S..192S
ASK Lot*
04%
Rnnu*
or
Las! tiale
..,.
72
Rich A Meek
! Rio Hr
Bta
St Louis div 1st g 4s....1961
Ala Cen R 1st g 6s
19x8
Atl A Danv 1st
g 4s
1948
Week's
Rang*
’
,
JIX Registered.
Fric*
Oct 2S
....
iTi % iia%
Feb’10
71
101
98*4
94
Sep*lu
108*9 Sep ’lo
101
Aug’lO
-—
80
107*,
103*9 107*4
106*9 106*9
il2 % Sep’10
77**
101H.104
108*4
102
108%
105
106*»
J-J
107
98 *9 «ct’10
94
...
106
90*9
.....
91
[Vol. mm.
J'YUlay
1955 J-J
Southern—1st con g 6s....1994
Registered
1994
Develop A gen Is Ser A. 1966
Mob A Ohio oolitrg4a..l938
Mem Hiv 1st g 4*9-6s...1990
106 % 104 % Oct *09
97*a...
Il234
Flint A P M g 6s...
1st consol gold 5s
1939
:
Pt Huron Hiv 1st g 6s. 1939
Bag Pus A H 1st gug 48.1931
Phil B A W tiee Penn HU
91
104......<104** Oct ’10
9 J *9
80 Pac RR let ref 4s
Jan *05
Sep’10
98*4 Apr *04
92 %
j wJ
N. Y. STOCK EXCHANGE
Week Ending oot 28
1
January 1
91
103
bonus
Since
„
110»4 Jan’»9
108% J’ly’OD
96
Aug*09
90
May’08
.—..
'*97*4 I™
4s.. 1955
...1921
1920
or
High Ir# Lot* High
Oct’101
94*9 99
I 98
.110
90
Senes
Senes
Senes
Senes
Series
B guar
1942
O goer
....1942
D 4s guar
] 945
B 3Hi guar g....l949
?
F 4s guar
1953
j C St L A P 1st con g 6s.l932
Pensacola A Atl tiee L A Nash
Peo A Bast tie* O C C A St L
! Peo A Pek Un 1st g 6s....1921
2u gold 4 “as
01921
A*4 Lot*
90
PCCAStLgU4%8A...1940
Oil A W M
Range
Week?*
Rang*
Last Bale
103 %
103 *9
.
|
Frio*
Friday
Oct 28
100‘s
Series U8%s
...1943 M-N
Senes D 8 %s
1950 F-A
Brie A Pitts gug34s B.1940 J 4
l
Senes C
1940,J-J
GrR Alex lstgug4%s 1941 J 1
r”
Pitts Ft W A O 1st 7s...1912
2d 7 s
1912
3d 7s
41912
Pitts YA Asli 1st con &S.1927
Pere Marquette—Bef
Record—Page 4—Concluded
Bta
AO
M-N
J-J
'
,
New York Bond
86*9 Sals
86
98*9
86
Sale
86
•9** 100
72*4
84
sais
Sale
92
81*9 86%
99
IDO*,
69% 76%
Apr’10
921, 9214
92*4
87
92
103
103
92*
104
104 *9
lu4
106
104*4
39
91
yy
iba*
ioa *, *105*54
104*4 »ep ’09
106 *4 May’oy
103*4 Aug’lO
110
Oot 10
95
91
92*4 106*4
96%
94 >9
Feb’lo
90*9
90*9
62
J’nelu
109
Sep’10
97
**9o** mu
106
89
86
Oct ’lo
98*9
99
97*a
977,
92
98’, bale
97 *9 bale
106
80
91
ibu% ioo%
104*9 Mar’10
lu4 J’ly’lo
106 Apr *40
......
104
80%
!ob% May'10
.....
83*9 88*4
92
103
104’,
105%
„
17
99% Oct *io
71*%,
<2*4
04*4 Oct ’lo
86*
92
loi%
loi**
UK*
103**
103%
86%
Oet ’09
164
97
91
87% 90*9
91*« 94
103% 109
...‘108*4 l’06»«
10tf%110
110*9
108*9110*, lu9%Nov’o0 ...[109*9
»«•?!••*••«
93*4 80% 92 Aug 10 ...i 92
98*4
115
113
116*4 Mar'lo
119% 119*4
102
107*9 Jan 09
••••*•
...
....
115
....
114
....
1*6*0** mi
101*4
101*4
io7v
....
•.....
1*6
116
110*9
110*9
Feb *07
112
J’ne’io
100
104*9 J’ne’oa
114*9 Heo’04
!lltf May*07
VlOO*, Oot’10
84
| 90 J'iy 09
101% 102 *9 101% May’lo;
,‘“*1100%
102
Nov'00.1
100
100
93
1116
115
i;;110*9ll0>9
::i ibb” ibo”
....
•«
*—
....
....
Vandal la consol 4s ....1966 F-A
98 Nov’08
gga 4 *,81934, J • J
era eras APlst
00
Apr’ld...J 00
00
Ver Vai Ind A W tiee Mo P
Virginia Mid tie* South By
a
Va
southw’t 1st gu 5s.2003^ J-J
105 110% 105
JTj’10....' 105 108
1st cons 6o-year 6s..M..1958 A-O *03
95 i 04
94%
6 94
08%
U, abash 1st gold 5s
1939 M-N
108%
110
1
109
109*,
2 10/
fw
113%
2d gold 6s
1939 F-A
08% 00% 90
00 %
08
0
103%
Hebentore senes B
1939 J • J
100 j 80
J’ly’10....' 80
80
1st lien equip s fdg os..1921 M-S
08% lou
J’ne’io.... 100 102
1st Hen 60 yr g term 4s.l964 J • J
86 j 90
Mar'lo
00
90
1st ref and ext g 4s ....1956 J-J
67% bale I 05%
03 *v 1178 66% 77%
Het A CH Ext 1st g 6s..1941 J-J
lOd %
loo J’ly’10.... 106
107%
HesMom Hiv lstg4s..1939 J-J
83
Deo’oj....
Om Hiv 1st g 3*as.......1941 A-O
' W 74%Sep’10
75*’
*77**
Tot A Ch HlV 1st g 4s... 1941 M- S
83
83
83
Sep’10
00
Wab Pitts Term 1st g 4s. 1954 J-H
4f %
49
* 21
33
62%
Trust co certta....
48*, sate
j....
40*4
32
4a%
692
64
2U gold 4s
1954 J-H
7%
8
7%
8%
4
84
11%
Trust Co certfs
7% Sale
7%
8%
337
4
12%
Warren tiee Hei Lae A West
Wash Cent tie* Nor Pac
Wash o A W tiee Southern
Wash Terml 1st gu 3*,s..1945! F-A
88
90
89% Oct *10
88% 90%
West Maryland 1st g 4S...19621 A-O
80% Sale
80%
86% 263 82% 86*4
Gen A cunv g 4s
1952 A-O
7i%Feb’lo
....(
<1
73
Trust Co certfs
J ....
73Apr’10 ...^ 08% 74%
W Va Cent A P 1st g 6s
1911' J - J
100%
Nov’08
West N XA Pa 1st g 5s..l937| J-J
110*4111
110
J ue 10
100% 110*4
Gen gold 4s
1943 A-O
8/
......
86%
Sep ’lot.....I 80% 02
income 5s
<11943 Nov
34
FeO’U7‘....il
West No Car tiee south By
Wheel’g A L B 1st g os...1926 A-O 101%
105 Oct
105%
Wheel Hiv 1st gold 5s..l928‘J-J
103%
103%Oot ’lo1.... 103% 104
J&xten A imp gold os...1930 F-A
100
102
4 ne’10
ue’10
.... |
RR 1st oonaoi 4a
90 102
....|
1949
80 I 63%
63%
4 77
1\ 83%
67%
20-year equip s t 6s ...1922
88%'
00*,
98*,
08%
00%
10
08%
08%
Wilkes A Last tiee Erie
1
Wii A Sioux F tiee St P M A M
W is cent 60-yr 1st gen 4s 1949
92% 03% 93
93% 27
SnpA Dut div A term 1st 4s’0 6
1
03
Oct '10
Telegraph and Telephone
Am Telep A Tel ooil tr 4s 1929
91
Sale
91
18 89% 93
90%
convertible 4s.
1936
08
100%
Mich state Telep 1st 6s.. 1924 F-A
97
95
Aug’lO.... 85
90
a Y Telep 1st A
gens f 4*as.'39 M-N
98
Sale | 98
98% 22 86% 90
Pac Tel A Tel 1st 6s
19d7
87%
Sale ! 97
0/S
23
86
88%
West Union coi tr cur os. 1933
100
oau jlOO
luO%
8 97
100%
fad ana real est g 4 *as...l950
85
Sale
86 I
94%
2 03
87*4
Conv 4s, Series A
1936
102
103% 102*4 102%'
...
*
....
••••••
**7*2*4
•••••<
....
....
....
'lot. Jl04%
I
....
......
“
..
160 *, 101
”
ioi% ib'2%
-
,
100% 102%
MISCELLANEOUS BONUS—Concluded.
Manufacturing & Industrial
'Gen Electric deb
j 10-yrgdeb5s
g
3%s..l84‘x
loi1;
bs.ioiConsol conv s l g 5s
1835
Int St rump 1st s f 6s.... 1929
lLackaw Steel ist g .>s....l92o
Nat Enam A Stpg 1st 6s..l92.«
N X Air x>raae ist conv 6s ’26
Ky Steel spgs 1st s f 6s... 1921
: Repub 1A o ist A coltr us. 1834
itJmon bag A P 1st ai 6s..l83<
Int Paper Co 1st
U
con %
Stamped..
‘U
S ceain Co s 1 deb
g
8110-00
lo3
85
91%
Sale
106
92
07
88
It 4% 105
97%
sal«
6s..181.)
coup .al863
yr 5s.\reg ,.al9ufa
‘4
82 Jan’it
148
149
102% 103%
85
Oot *•* 0
01%
97
80
104
92
97
Sep ’10
105
97%
87%
102% 102 Oct ’ll
00
91%
91%
bd
104% 10o
86% 89
••••••
S Realty A1 conv deb
g 6s ’24
V 8 Bed A Bel 1st s 1 K 6s. 1831
B 8 Rubber 10-yrcoli tr 6s.’lb
U S steel corp—J
j
80
148
67
88
102% 103
103% salt
93
82
82
*119
130
149%
4
LOO
106
23
3
82*4
91%
80%
90%
06% 100
94
97%
1‘j 100
114%
1
96% 9a%
102
104
1
91*4 9<i%
93
Msy’10
90%
104%
6 l04% 105
104%
06%
87% 14 86% 94%
60
67% Oot ’!<
90%
102%
102% 22 LUJ% 104%
104
103%
279 101% 105%
103% 104%
7 101% 105%
Manufacturing «Ss Industrial
ya-car Chem 1st 15-yr 6s 1923
vVestinghouse E
A jus £ os ’3i
Jlwoeifauwout
Adams ex 001 tr g «s.
1946
Armour ACo lstieaxest4 vs’3u
bush Terminal ist 4S. ...1952
Consol 6s......
1856
Clue J o A t Yard ooigds. 191./
uetM A M Idgr UL0omes..l81i
institfor irrig Was 4*,s 1813
Int Meroan Marine 4%s..l022
int Navigauon 1st si 6s.l82b
NewpNe snip A HH5sbl89o
N Y Hook 60-yr 1st g 4s.. 1051
Providence aeo deb 4s....1067
Provident Loan soo4%s.l021
s Xuba Wat Co oon g 6s..1823
Wash Water Pow 1st 6s.. 1030
100
Sale
91% sale
90
86%
lOo
36
90
0i%
92%
89
07
I06
90%
82
88
95%
08
8i%
100%
02*4
00%
02
Aug’lv
85%
May'lu
Aug'10
97%
97%
60
66%
76% Oct’lc
11
83
06% 100%
93%
86
90% 93%
90% 84%
87% 80
05% 08
100
35
100
00
08
50
70
85
00% 02
*83 *,
01%
100
35
00*4 Sale
78
05
100
S
86%
i/rC’Ou
90% Oct ”0
00
95
112
l03
Sep’It
J’iy’09
J’ly’04
Aug’l
90%
00
40
71%
88
’*04”
00
103% Sale
iOl
103
*Ne price Friday; latest bid and
asked this week. 6 Dae Feb d Hue
Apr 4 Due May g Due J’ne h. Due J’ly /cDueAug oDue Oct p Due Nov «Option Sale
-
a
^
CHICAGO STOCK EXCHANGE—Stock Record—Daily,
STOCKS—HIGHEST AND LOWEST SALE PRICES
Monday
Tuesday
Wednesday
Thursday
Friday
Oct. 22
Oct.2 4
Od. 25
Oct. 26
Oct. 27
Od. 28
*....
*1*2
160
155
2*2
*1*2
*6
*73
160
*6
*73
75
18*4
187«
187S
187«
*9
*4
5
10
*9
*4
10
4* 4
5
*23
*72
*20
*62
*18
*-.-.
♦60
4*4
4/8
6
77
22
66
22
63
65
13*2
13*4
65
56
73
22
66
22
63
60
61
55
*13
*55
60
5
*23
*72
*20
61
*18
23*2
61
22
63
61
13*8
13*4
13*8
*52
55
ctf
ctf
ctf
ctf
*T"___
* 2”.
"3".
”4"
1,580 Chicago Subway
100
Kans City Ry A Lt__100
Do
'120
100
pref
detropol W S Kiev-.. 100
Do
'ill
pref
_100
.’hie Rys part
2,471 :htc Rys part
145 Chic Rys part
Chic Rys part
80
140
21'z
10
Sep’10
5%
5*4
Oct’10
75
Oct’10
65
75
77
21
*60
10
Lowest
Ka.iroads
Chicago City Ry
..100
Chicago & Oak Park_-100
L)o
pret
.___100
170
*75
21
10
2178
Week
Shares
July’10
July’10
Last Sale 4i2
5
5*g
Last Sale 23
4I4
47g
5
23*2
_
*13*4
65
4*4
77
21
64
22
63
61
*
18*4
79
75
19
D
73
19
10
*150
Last Sale 1*2
Last Sale 4
----
*9
*4
10
9
*4
5
*23
*72
*20
62
*18
170
*165
2*2
*6
72
75
19
1812
2312
*23
73
*20
*62
*18
*._.
60
23*2
*6
*73
75'
170
*1*2
2*2
*ll2
2*2
170
155
*..,
(1909)
CHICAGO STOCK
EXCHANGE
of the
Saturday
75
75
Last Sale 18
68
*63
*60
Last Sale 20
Sep’10
Last Sale 60
Oct’10
64
6H4 6U4 *60
*12
13
127g
13
*50
65
*50
60
j Range for Previous Year
Range for Year 1910
STOCKS
Sales
Weekly and Yearly
Northwestern Elev
Do
100
100
pref
69 South Side Elevated.. 100
185 streets W Stable C L.100
Do
70
_
pref
100
Oct
lig J’ly
4
J’ly
60*8 Sep
il*4 Sep
150
3ij Jan 26
7i2Jan
28
28
.8
13
May 2 0
May24
2«* J ne29
20 Aug; 8
69
Feb 17
__
7
40
9'r Jaa
8
May31
_
J’ly 28
J’ly L6
71
*250
9*2
71*4
9*8
71
*250
*..,
130
*79*2 80
*48
*1
*2
*40
*60
*48
*1
3
50
l*s
3
42
150
69*4
*..,
*-..
•Ill
121
♦126
119
109
150*
93
63
627*
63*4
65
65*4
64
*__.
21
*
21
♦111
*121
128
*118
♦109
112*2
121
128
119
109*4
170*4
119*2 119*2
103*2 103*4
112*?
122
128
119
110
*60
*48
*1
1*8
3
*2
40
41*2
*121
104*4
8*4
104
*8
175
♦....
16
[*..
1081s 108*4
175
♦8
8l2
16*
75
...
75*2
Last Sale 250
Last Sale 126
*79
♦79
80
110
111
*110
Last Sale 137*4
Last Sale *8
647s
100
940 American Can
Do
1,215
pref
100
American Radiator.. 100
Do
pref
...100
10*4
*4
Oct’10
July* 10
.
30 Amer Shipbuilding
100
Do
pref
100
Amer Telep A Teleg
booth (A) A Co..
100
Do
..100
pref
30 Booth Fisheries com....
Do pref
200
Cal & Chic Canal 4s D.100
Chic Brew'g 4s Malt’g....
Do pref
50
240 Chic Pneumatic Tool-100
12 Chicago Telephone...100
Do
rights
Chic Title A Trust
100
206 Commonwth-Edison. 100
Do
rights
Corn Prod Rei Co com...
Do
uo
pref
100
296 Diamond Match...
.100
904 Illinois Brick....
Masonic Tempie
....
1*1.28 McCrum-Howeil Co 100
80
Ill
125
Oct’10
June’09
June’09
*32
*63
47
1
*2
40
*121
Nov
Jan
Jan
29*4 Apr
Feb
Aug’10
Apr* 10
4
40
122
2*4
Feb’08
146
Oct’10
115*8 115*2
1*8
Feb’10
15*2 Oct’10
79*4
Apr* 10
96
94*2
65
65
65
*176
177
1041?
8*2
104
*8
1041s
8*2
16"
*——
ie"
*...
Last
65
Last
Last
Last
108*2 108*2
1085g
Do
pref
Mllw 4s Chic Brewing...
Do pret...
100
201 National Biscuit
Do
11
pref..
.100
.100
80 National Carbon
Do
53
pref
100
500 People’s Gas L&Coke.lOO
Do
nghts.
10878
Last Sale 11-16 Mch’09
170
169*4 170
170*4
*119
120
119*2 120
104
104
1037s 104
*175
176
*175
177
Last Sate 6*4
June’10
♦104
104*2 *104
104*2
7
7*2
7*2
7*2
Last Sale 7*4
Apr*0j
Last Sale 15
June’10
l’613
Sears-Roebuck com..100
Do
303
pref
100
100
1,035 Swift & Co
110 The Quaker Oats Co..100
Do rights
.......
"l23
Do
100
pref
270 Unit Box Bd & P Co. 100
Do pref
...
100
Western Stone
100
Friday
Oct. 28
Period
Bid
Chic Board of Trade 4sl927
Chicago City Ry 5s...1927
Ohio (VinsAi Rr & Mlt 68
_
Chic
Consol Trae 4 v*s 1939
Chic Auditorium Ist5sl929
Ohio Dock Oo 1st 4S..192J
Ohio Jo RR 1st M g &S.1945
Chic No Shore Elec Os.1912
Chic Pne Tool 1st 5s.nl921
Chic Ry 5s
...192/
Chic Rys 4-5s series MA”
Ohio Rys 4-5s series “B”
Ohio Rys 4-5s series “C*
Chic Rys coll 6s
1913
Chic Rys Fund 6s..1913
Chic Rys Tern Ctfs 1st 5s
r
-
J
-
A
-
A
D
O
-
A
F
J
J
F
J
J
F
A
M
A
J
F
-
j
ft
_
—
,-T-
100
50
96*4 Jan’OJ
-
A
O
-
S
102i4 1025g
mmmm
mm** —
O
J
A
-
-
U
D
-
A
-
F
-
A
F
-
A
_
w
g
80
98
98
98
68
78
98*4 Sale
—
m
—
—
....
»
F - A
J - J
J - J
M- S
81*4
78*4
Sale
95
95**
Q - M
M- N
981*
95
96
.
_
—_
m—mm
103
101*8 Oct’10
101*8
101*4
100*4 Aug’10
93
100
60
ol
0
mmmm
_
—
• ——
1 « 1 1
•
•
1 1
•
1 1 1
•
•
1
2
_
48
7
-—mm
84l4
—— —
-
43
1007* Oct'10
Dec'os
65
Feb
Aug
J
n
**
*4 Ma
112
145
1
5
b
10
May
40
74
55
1
3
47
137
4
Jan
Feb 17
Feb •*
Sep 23
48
J’ne
61*4
Jan
75*2 Deo
68
Apr
1
Apr
212 Nov
3
127
Jan1
163
Mchio
117
107
Jan
Jan
112
Jan 11
142is Mch
31
56
47
J’ne 6
J'ne o
3934 Jan
Aug ll
1
Feb
3
Sep 23
4
25*2 J'ly 26
110
Mavl7
Aug 26
108'i J’ly 27
142
114 Jaa
1312 J’ly
Feb
Jan
1
40
Mch W
93
J’ne 28
101
H8
104
112
103
Aug 3
J’ly 19
Jan 13
8
Feb 2b
2
22*4 Jan
9
7914 Apr 7
82i2 Sep 30
53
J’ly 26
4312 Mch b
82
127
91
6
.an
Mch 2
46
Jan
7
66
Oct 2
1023.) Apr J)
Jan
Jan
115
125
140
121
Feo 24
Feb 10
Feb
11612 Aug 8
101
Sep 16
155
J’ly 27
6
J *ne
22
101
J’ly 16
6U Apr 28
15
43
Jan
20
Nov
Jan
Jan
Jan
*2 Feo
122
109% Jan
100*2
186
119
-27* Apr
J’ne 30
jan
Jan
Jan
Jan
98>2 Jan
% Feb
3*4 Mch
• 5
l
Deo
42
140
Deo
152
Oct
Sep
121*2 J’ly
88t2 May
130*4 Aug
88*2 Dec
47
Sep
J an
55
L01
Mch 8
6
Feb .9
9
May 2 6
106
Jan 6
15*8 J an 3
Jan
251*8* Aug
Jan
82
110
102
171*2 Oct 18
Sep
Nov
Jan
70*4 Mch
117
38
’
148
86
17*18 Feb
977g Jan
118*4 Feb
7
Oct 28
Mcn30
10*14 Jan 3
J’ly 26
Apr
1
Apr
2»S Apr
20
Mchi
121ij> Jan 11
_o
J’ne
21
119*4 Sep
130
Sep
108i» Deo
124
Nov
U9/fi Aug
Mch
1
16912 Dec
m*4 Oct
114*4 Aug
162
Dec
106
Dec
15$ Mch
9*2 Jan
Feb
25
Mch
96
88
75
95*8
86
97*4 98
100*8 100*4
People's Stk Yds State.
100*8 103*4
100** 1027*
100*4 IOOI4
100
100*2
10*2*4
-m ——-r
m
—
..
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.....
90*2 91
97*4 101*8
100
-mrnm
6
mmmtm
81*4
103
100*4
100*4
92*2
10u*8
Sep’10
Oct’10
Oct’l-j
Oct'lO
88
114
Apr' 1J
NOV'04
70
Apr’10
6H4 Oct’lO
and
Profits
In
In
T
1908
1909
^3.541
Kaspar State Bank....
94*4 96*4
94*4 94*4
75
65
80
84
80
93*4
96*4
99
May 05
78*4
78*2
90*4 Oct’10
96
95*2
99
Apr'10
93
Oct'lO
100*8 Mch*U9
96*2 Mch* 10
97
Fea’lo
Dividend Record,
Surplus
224,197
9,6-2,319
5,437,074
22,126
399,499
wPrairie National
Prairie State..........
Ra'lway
Exchange....
Security
South Chicago Savings.
South Side State..
State Bank of Chicago..
Stock Yards Savings...
Union Bank of Chicago.
Washington Park Nat’i
95*4
95*4
94*4 Oct* 10
77
Oot’lO
103
J’no
22514 Oct
132
J’ly
811* Deo
fcido, OOu
National
La Salle St National
87*4
101%
_
100*4 Oct’10
80
1 9
——mm
mm-—
1001* AUf'09
101*8 Oct* 10
101*2
3 *57
mmmm
101% 103*4
’
?
98*2 Mch’10
103*4
921*
79
15*4 not
Jan
Jan
200.000
36,85
First National
10.000,000 I0,836,5u9
First Nat Englewood...
192,377
150,000
Foreman Bros B k’g Oo.
525,3 <2
1,000,000
Fort Dearborn National
381.692
1,500,000
Hibernian B'k'g Ass’n
950.430
1,500,000
4
5
8
_
—
^
_
76
88
93*4
99
92*2
96*4
,
■mm — —
mmmm
m
96*2
96*2
97
97
98*2
98*2
121*4 May'09
101*8
mmtm —
3
....
->1|r
-wsr-f
mmmm-
-m*mm
-m— —
85*2 Juiv u*
»*eadded touill <*hloa*o b ond
100*4 103*4
103
104l2
100*4 102*2
100*4 101*2
9134 94
100
1007g
88
88
---«
70
70
61*4
65
mmmm
v No nrloe Friday; latest price this week,
with extra oavments Q-F.
a In addition
W See V. 01. P» fa* 17.
—
QrtJ
3
66*5 JulV*08
81*8
971*
must
jrom First Trust A Savings Bank.
76
193
J - D
M - S
M-N
M-N
A - O
M - S
J - j
J - D
M-N
J - J
J - J
A - O
J’ne’10
98*4
98*4
97*4 Sep’lt,
100»8 Ap.’*lJ
66*2 Aug'08
16
Chic Gas L4bC 1st 5sl937
Consum Gas 1st 5S.1936
Mut'i Fuel Gas Ist5sl947
South Side Elev 4H&.1924
■Swift A Co 1st g 5s...1914
Union El (Loop) 5s.. 1945
Union Pacific oonv 4s. 1911 VI- N
General mtge 0s
Western Stone Oo 5s_. 1909 •
Not* —Accrued 'nterest
951*
75
—»»r
9015 Mch io
93
Jan
500, OOu
Chicago City
Contl’tal & Comm Nat 20.000,000
Corn Exchange National
3,000,00J
Drexel State
200,000
Drovers' Den National.
600,000
Calumet
High
y934
94*2
99*4
90*4
Feb'06
Sale
79*4 Sale
7$»
Englewood State
—
rnm~m
86*2
mm — m
_ _
-
m+-
102*2
86**
-
J
A
——
*
-
Apr*lM
Apr'09
87**
95
United Box Board ool or 26
Low
—
U4i* Dec*09
87
•_
w
M-N
A - O
J - J
Feb
5s....1947
1023*
103
floor*
Refunding
Mar07
D
-
—
_
J’ne'OJ
-
-
4.40s ................
4.00s Series E.........
4.80s Series F_.
.....
Pm Gas LAC 1st 6s 1943
102
w —
No.
.
—
101*4 oct'09
— •
Kan City Ry A Light
Co 5s
...1913
Knlck’b'ker Ice 1st 5s 1928
Lake St El—1st 5s... 1928
Jnririm* fis__
1925
Metr W Side El—
1st 4s
1938
Extension g **....1938
Morris A Co. 4H._-.1939
North West El Ut 4s.1911
No W G-L A Coke Co 5s 28
Ogden Gas 5s.......1945
Pearsons-Taft 5s
1916
*
92ig Oct’10
n
N
Collat trust g 5s—1913 M - S
102*4
Ohio Telephone 5s.... 1923 J - Li U02
Commonw-Edison 5s. 1943 M- S 101*4 Sale
Chic Edison deb 6s. 1913 J - J
July 1926 A - O
1st fr Hr
Debenture &S....192U .n- s
Commonw Elect 5sM943 >1- b
101*8
Illinois Tunnel 5s....1928 J - D
flhiA H. I A. P RR 4s
High
9>*4 Mcu'l
A
J
F
_
Ask Low
NAME
Range
for
Year 1910
-
-
A
J
2002 M
Last Sals
J
D
-
B‘ds
Sold
!
Amer Strawb’d 1st 6s.l911
Armour & Co 4 Hs
1939
Aurora Elgin&Chlc 5.1941
Cal & So Chic Ry Co
1st M 58
1927
Cass Av & F U <St U 5s 12
Weeks
Range or
Price
7
59
Deo
25
May
73
May
61
May
54*" Deo
Deo
108
71*4 Jan
/
250*s Sep 22
135
Apr 4
84*1 MaylC
Aug 6
13U4 J’ly 30
OvXstanding
StocJc
t
BONDS
Intersst
Feb
88*2 May
19*2 Dec
Chicago Banks and Trust Companies
Chicago Bond Record
CHICAGO STOCK
EXCHANGE
Week endina Oct. 28
72
J’ly
62
200
126
64 is
101
139
Jan
82
107
oan
13*2 Jan
29*4 Jan
Dec
Dec
Jan
97
135s Jan 10
65* J'ne30
6212 J’ly 26
240 Apr .5
1.6 J'ly 19
30
1518 Sep
47
17
63
60
•
34
64
Sale 45
Aug’10
65
64*4
64*4
Sale 99
Oct’10
98
98*2
Sale 2*8
June’07
Sale 20"
21
21
Nov’09
112*2 110 110*2 110*2 11012 •110 113
*121
122
122
120*4 120*4 *121 122
140
140
128
132*2 132*2 132*2 135
120
*119
121
119
119
♦119
119
1041? *104
104
8
65*2
65*4
168*2 170*4 169 169
119*4 11934 *119*2 120
104
104
10414 104
177
1014
10
75
Last Sale
*33
34
*63
64
Last Sale
Last
Sale
1*8
3
*2 4
41
40 • 40*2
120
120
Last Sale
Last
Sale
150
11534 *115 116
Last Sale
Last Sale
Last Sale
94
94
92*2
64*2
108*4 108*4
119*2
*176
92*2
6478
66
*-^
♦111
*121
128
*118
1037g 104*4
176
*145
115
9*4
747g
35
63
50
*
170
169
119
79*2
110
141
♦33*2
647g
*
100
79*2
110
*140
94
941?
63
9%
74*8
260
131
*
116
93*2
99
*250
150*
*145
*115
116
93
63
170
176
*60
*48
*1
*2
1*8
9*8
73*4
35
63
50
♦3312
35
63
50
3
*145
115
*114*2 115*2
*91*2
62*4
79
110
*139
41*2 41*2
41*2
122*2 122*5 *121
*120*4 122
*145
*
140
*331f
3334
63*4
260
131
79
110
140
*250
13*1
*139*2 140*2 *139
33*4
63*2
73
78*2 78*2
*108*2 109
*108*2 109
9*8
73U
014
7314
9*2
15
119*2 J'ly
45*4 Jan
3*4 Dec
Miscellaneous
9*8
4
Dec
30
78
l
7734 Mch 30
25
J’ne 11
72
J'ne 22
23
J’ne 24
66
J'ne^l
7212 J ne22
543g Jan 3
104 Jan 6
.an
Feb
Jan
Jan
190
10ip Dec
6I4 Aug 16
Jan 14
Feb 7
Apr 1
55I4JTF
97
3J
39
Octr
Dec
Dec
5
Jan
Jan
Jan
109
36
16
8
8
16
51
15
53
Mod
li? Oct*,
180
Mch 7
185
24
Highest
Lowest
Highest
prices.
Wendelt otate
Central Trust Co of III..
Chicago Sav Bk A Tr
Chicago Title 6s Trust..
Citizens Trust 6s Savings
Oolonia.1 Trust 6s Savings
Cont & Comm Tr 6s Sav.
Drovers' irust<5c Savings
Far well Trust Co
First Trust 6s Savings..
Guarantee Trust 6s Sav.
Harris Trust 6s Savings.
Illinois Trust 6s Savings
Kenwood Trust 6s Savgs
Lake View Trust 6sSavgs
Merchants' Loan 6sTr Co
Metro poll tanTrust 60 Sav
Northern Trust Co
North-Western Tr6sSav
Pullman Trust 6s Savgs.
Sheridan Tr 6s Sav Bank
cStandard Tr A Sav.....
Stockmen's i rust 6b Sav
Union Trust Co....
200.000
1.000.000
1,250,000
300,OOu
65,108
2,000,000
1,500,000
250,000
1.214 618
404,524
83.064
200,000
60,000
200,000
300,000
250.000
68.753
26,2o9
18,498
105,12u
500^000
250,000
300,000
200,000
200.00U
1,500,000
250,000
200.000
100.000
60,000
2,000,000
«500,000
6,000,000
50,OOu
600,000
3,000,000
200,000
1,500,000
2,600,000
200,000
1,250,000
5,000,000
200,00ij
200,000
3,000,000
750,000
1,500.000
200,000
500,000
200,000
1,000,000
200.000
1,200,000
oWest’n Trust 6s Savings nl,000,OOU
West Side Tr6sSavBank
200,000
vVoodlawn Tr 6cSav Ban,.
200,000
*
•
■
■
'
I4^»88i)
251.086
490.626
6
10
%
Dec
10
•
12
6
•••
12
9
Last Paid
iod.
An
1
mmmm
DO, ft
luly *10.5
’10, 2*i
'10,4
‘10 l*i
Oct
Q-J Oct
■l-J Oct
mmmm
Q-J Oct *10 21*
Q-J Oct '10, l*j
12
Q-M Sep 30' 10,3d
10
10
Q-M Sep 3010,21*
Pnv ate Ba ok
8
8
Q-J Oct *10. 2
8
8
Q-J Oct *10. 2
10
J-J July 10.6
10
Beg. o S. M * f 10 V.9J, p.1277.
104-2
10
Q-M Sep 30'102ii
4
4
Q-F Nov TO. 1
8
8
Q-J Oct TO. 2
3
6
Q-J sep30 10 Hs
3
Q-J Oct
10,1*2
2H
6H Q-J Oct TO. 1*4
6
6
Q-J Oct TO, H*
mmmm*
Q-* Oc.. TO, 1
Q-J Oct TO, 2
9H
6
10
6
12s
’
.
,
■
mmm
62,310
80,077
s'
2
23,268
186.033
mm
0
87.000
11,005 Beg. b
11
,742,907
7
186.241
47.899 r 6
mm
“"o"
None
mmmm
mmmm
Q-M
_
_
_
_
1H 4-J
6
Q-J
IM
Kop t '095
12 ' Q-J
8
Q-M
6
7,814 See V. 90,
6
6,570
7
872.807
116.352
m
6
11,543,802
4
7.188
454.136 8+2
427.809
115.219
7H
181,929
3.113.260
14,619 incorp
6
1,456.828
8,444,429 16+4
6
53,526
4o ,365
4H
12
5.840.079
6
221,455
8
2,327,708
6
64,494
8
224,584
25.432 Beg b
250,000 Comm
5
32.7u4
8
1,190.520
6
132,692
107,552 mrnmmf
0
63.442
>:'
Per-
M
P.
.None
7
6
6
4
8+2
8
3
o"ct
'10,11*
*08.2
TO. 11*
TO. 2
89 p. 817
Jan
Oct
Oct
V.
Oct
'io. 3'
Sep30T0,2
N Nor
159
TO, 3
Q-M Dec31’08,11*
Q-J Oct TO. 2
Q-J Oct TO. 11*
Q-J Oct. TO, 2
A-U Octy. TO. 3
Q-J Oct TO. 2**
Q-J Oct
TO. 2
TO. Hi
10
Q-M Sep30'10, 4
orated 1908 V.87 p.1138
9H Q-J Oot • 10. 3
Oct TO, 4
1
164-4
6 H Q J Oct
TO, 1%
6
Q-J Oct TO. H*
12
Q-j Oot TO. 3
•
Q-J Sep 30 10. Ht
8
Q-J Oct TO. 2
6
l-e
J tly TO. 3
8
Q-J Oct TO. 2
un J »v 12 ’*> 9 V 89 p 141
Q-J
enoed
bus.
6
*8 + 2
6
j-j
mmmm
ft
Oct.
Sept ft 1910
July TO, 3
Q-M Sep 30’ 10,2
CH Oct TO. Ilf
Sep 3010.2
Q-J Oct : TO. 2
-
n Capital and surplus to be inereaeed. q Dividends are paid Q-J.
a Due Deo. 81. 0 Due June. * Also 20% In stock,
the equivalent of 4% more came from First Trust A Savings Bank. (July 311910. v In addition the equivalent of 1% earns
Prairie Nat. Bank and Western Trust A Sav. Bank to be merged and capital of latter to be Increased to $1,2*0.009; T« 91, p. 314.
BOSTON STOCK EXCHANGE—Stock Record,
Daily, Weekly and Yearly
SHARE PRICES—NOT FER CENTUM PRICES
Saturday
Monday
Oct 22
*104%
*10U2
224%
*12712
Oct 24
104
105
102U *101
224%
*215
*215
130
130
290
290
1 >8
16
74
*70
130
*.
*13%
*70
*40
42
156%
*110
114
265
130
122
89
130
*120
89
*208%
216
130
...
130
290
*
10%
*40
155
114
*250
,
*187
*33
*105
102
102
176% 174
93
9334
*154
85
85%
105
105
175
*92*4
“85%
♦103
48
102
48%
102
*5
16
11734 118*4
117
10
33
97
10
19%
19%
9634
*5
6
264
*85%
33
33
96*4
97%
*5
9
266
*110
*110
6
112
112
534
*110
110
135% 13512 *135%
*94
*94
...
224
"6%
*534
♦111
*108
*29
*28
178
56
*28
....
19
90
8%
*17
*88
9
8
11%
70
12%
44%
71%
27%
28
12
44%
*18"
18%
8%
*.50
16%
5%
*20
59*4
569
*21
*.05
71%
*4
9
9
.60
17
7%
34
7%
2734
*2
15*4
22%
16*4
5%
19%
59*4
60
560
22
.08
*555
*2134
.05
71%
4%
7178
4%
8%
11*4
1134
9%
20%
5%
61
51
7*4
13%
S34
*8
.50
40%
132
14
•
21%
.08
71
41
8%
132
1%
1%
9
.40
.07
197a
9
.50
.15
20
21%
*4%
11%
21%
33%
32
3224
8-t?
8%
8%
*
40%
8
13
60
6
41%
41*s
4834
37g
24%
10%
133
1%
8
.40
40%
132
14
"'2% “2%
10%
7*8
26%
511
21
5
111
61%
10%
34
718
26%
5
51
1%
51*4
4034
48*4
334
24%
34
5
51
1%
_
*
1934
5%
52
8
8
13
*-6
41
19
90
130
*13%
76
20%
*1%
12%
1%
*
119
119
116
116%
140X2
327g
116l2
96
98%
103%
17
17
89
89
120
7%
7%
8%
H3g
11% 11%
44% ♦43% 44
693s
6878 70%
27%
27% 2778
120
19
89
5034
7%
13%
6
41
40%
48%
*334
24
49%
*234
*10
*-..
1%
5
11%
8%
8
.60
41%
130
.50
41%
4084
49
37g
24
50%
3
10%
132
1*1
42
18
18%
8%
8%
.60
1634
5%
19
*20
*.05
70
.50
17
17
5%
19%
*19
60
558
21
4*2
8%
7%
33%
.08
*4
8%
11%
7%
.
*
8
.40
41%
129
131
14%
77
20%
1*4
123g
1*4
51
734
13%
60
"373
40%
49
334
37g
24%
49%
24
49%
*234
3
10
10
*128
130%
*1%
c ot ssaas^ ca causa m lyiM
1*4
„
*
7*4
*4*4
11%
32%
8%
8%
41
130
14%
.15
1978
5%
50*4
21
5
11%
34%
8%
8%
.50
41
131
14%
76% 76%
*21
8
44
Connecticut River
100
Fitchburg, pref
...100
Ga Ry 4 Electric... 100
Do
pref
„.ioo
Maine Central..
100
Mass Electric Cos.... 100
Do
pref
....100
N Y N H 4 Hartford. 100
Northern N H
100
Norwich 4 Wor pref.100
Old Colony
100
Rutland pref
....100
Seattle Electric
100
Do
pref
100
Union Pacific...... lou
Do
pref...
...100
Vermont 4 Mass.
100
West End St
50
Do
pref.,
50
271 Atl Gulf 4 W X S S L.100
Do
147
pref.........100
289 General
.
Electric.....100
MassaChusettsGasCos 100
357
Do
pref
..._100
105 Mergentbaler Lino
100
166 Mexican Telephone.. 10
10 N E Cotton Yarn.... 100
1° „ Do
*..160
pref
385 N E Telephone
-.100
26 Pacific Coast Power.. 100
549 Pullman Co..
...100
Keece
261
8
Button-Hole..
Swift 4 Co
10
100
70%
72%
KStZZZZZZZZlOO
2,183 Un Shoe Mach
853
Pref
ry
U S Sted
Corp.. 25
——
Corp
25
100
Do
pref....
100
West Telep 4 Teleg..l00
55
Do
pref....
.100
317
66
11%
Oct’Ti
64
60
TOO
2,394
1,105
....
991
758
*1*8
12%
1%
507S
19*4
*4%
50*4
20%
*4*4
11%
33%
6%
8
*.50
41
132
*14
♦77
5%
Allouex.............
25
Centennial..........
25
Cons Mercur Gold--.. 1
Copper Range Con Go 100
Daly-West
20
East Butte Cop Min.. 10
Elm River...
12
Franklin
....
26
....
51
8
.60
41
135
15
78
12*4
13
52
13%
13%
*1%
40*4
48*4
334
4034
24
24
49
334
52
13%
5%
40%
407g
4834
49
*3%
*234
*934
*234
*9%
132
1%
8
60
49?8 407g
10%
1%
52
24
50
3
1%
*7%
13*3
6%
*125
♦llo
tini and asirea prices,
250 Michigan
100
3,994
5
25
11% 1,691
34
14,037
480
8%
13
1*8
185 Mexico Cons M 4 S._ 10
2,020 Miami Copper.......
a
207g
21
8
1%
.07
20
205g
1%
8
*5%
.07
334
24
10
130
134
136% Jan
J 'ne it)
J’ly 21
8
104
85
Jan
0
Apr
8
Oct
3
Oct 13
124% Sep 21
26
25
5
.......
Mohawk...**
Nevada Consolidated.
New Arcadian Copper 25
Nlpisslng Mines.....
North Butte
.....
North Lake
345 Ojibway
834 Old
Mining
Colony
870 Old Dominion CO
326 Osceola .......
60 Parrot Sil ver & Cop.
22
Oulncy
...
....
Utah Consolidated...
Utah Copper Co.....
Victoria
Winona
20 Wolverine
120 Wyandot
a Ne v stock,
.....
...
e
26
26
26
19
25
1,155 Ray Consol Copper..
90 Santa Fe Gold 4 Cop.
6,019 Shannon
725 South Utah M 4 S
785 superior
860 .Superior 4 Boston Min
1,721 SuperiorAPitts Oopp25 Tamarack
282 trinity
2,078 UnitedStatesC0al4Oll
6.861 U S Smelt R-ef 4 Mlo.
739
Do
pref
2,400 Utah-Apex Mltitrtg
461
260
80
390
5
15
26
26'
Ass’t paid.
...
10
to
10
6
26
10
10
Highest
1U2
48
Feb
Feb
Jan 21
J an 3
Apr
Sep 3t
15t% Oct 15
Jau
239% Apr
135
Deo
Jan
12414 Jan
220% Dec
132% Jau
295
Sep
11*4 Jau
60i2 Jan
143
Jau
115
267
Jan
Nov
ft 153
210
141% Aug25
146
Nov
Feb
213
200
190
Dec
Fen 10
14% J’ly 16
75
J’iy 1
Apr 28
139% Mch 11
Mayiu
181% Sep 14
25
103
May
,
Aug 18
98% Auf 2
153% J’ly 26
89% j’ly 26
151
83
Oct 15
Sep 20
J’ly 6
99
J’ly 2;
98*4 Mch 31
4% Aug 2
14
J’ly 15
9
116
106
*
Oct
3
111% Oct 3
127% J’ly 26
26 j’ly 7
«1 J’ly 1
7
Mch 18
16 May 16
135
J’ly 28
j’ly 28
Apr 14
Jail 26
J’ly 26
76% Feb b
89
May lr
214% Jan 4
2% Jan 8
107 Sep 22
99% Aug 3
129% Aug 17
Mch 22
J’ne 30
11% Jan 15
100 Jan 24
28 Mcb 30
27 Jan 18
04
153
46% J’ly
t
25%J’ly 8
61% J’ly 26
J’ly
111
14
81
Feb 1-Aug 15
4
JTy 13
Sep
J’ly
55% J’ly
19% J’ly
36
Jly
26
J an
Mch
I6t>
95%
109
49% Oct 20
Sep 26
87g Feb u
105
2
124
Mch 2
143% Feb 24
39% Mch 19
104% Mch23
11% Jan 7
28
Jan
.
270
Oct 10
150% Jan c
67% Oct 25
97
Men lb
Oct 25
225
6*4 Mayio
124
115
Jan 3
Jan 11
138% Mch 11
100 Jan 5
200
Feb 11
14 Oct 3
109*4 Jan 10
34% Jan 3
31
May 6
200 Sep 10
7l*4 Apr 18
31
Jan 4
90*4 Jan 3
125% Jan
6
19*4 Sep 30
94
Jan
5
10
Feb
1
10
21
13
68
12
26
Feb 15
90*4
40%
53*4
50*4
12%
Jan
Feb 17
3% Sep 28
58
6% J’ly 13
.05
Oct 11
u% Jneau
J’iy26
2(1 J’UT 0
c% Sep 29
14% J ly i«
1% Oct 27
10
J’ly 18
18% May o
xQ
Sep 1
3
J’ly 7
28% J’ly 15
it
J’ly 23
4% Meh 8
6
Oct 21
Oct 28
J ly 18
37S J’ly 12
.35
.07
17
j’ly 26
17% J’ly 6
3% J’ly 13
9% Jan 17
43
18
J’ne 30
6% J’ly 13
Sep 7
Aug i>
29% J nc 15
114
J’lya?
12 J’ly 6
60
J’ly l
15% J’ly 1
1% SeD 20
8^4 J ’iy 6
1% J’ne3o
36 J’ly 19
7% J’ly 14
5
.25
9
J’ly
b
#5% J’ne 21
4% JTy 18
to
33% J’ly 20
45% J ly 20
:•% J iy 22
18%J’ne30
/v3i>% J’noJO
2% J’ly 22
5
JTy 13
1( 2
J’ly l:;
Hi J’ly 26
23
Meh .1
0 Ex-stock div.
u
14% Sep 15
3
3
8
3
Jan
Jan
Jan
Jan 14
.70 Mch 2s
24% Jan 13]
18% May2t
28% Jan 3
103
Jan 3
G85 Jan s
38
Jan 8
.16 Jan 10
85 Jan 3
9-% Mch 2b
13*4 J art 3
2% Feb lb
22% Mch
12% Jan lof
111% Jan 3
H78Jan 3
36
Jan 12
578 Jan 4
44*4 Mch 9
-8% Jan 3
11
Jan
£
6*4 Jan 14
94% Jan 22
19
Jan 14
10% Oct 13
17S Jan 13
5
29
Jan
Jan
7
4
8% Jan 21
75
Jan 22
27% Jan ll
10% Jan 12
12
Mayi6
50
Jan
3
257, Mch 7
12*4 Jan K
1% Feb 1
55
1GU
Jan
Jan
3
3
Mch
24*1 Mch
2*4 Jan
18
Jan
3*4 Jan
08% Jan 14
18
Jan 12
10% Jau lo
78
Jan
5
11% Jan 3
4i-g Oct 21
55
J:>„n
3
63 % Jan
3
5% Jan
3
46
102
Oct
33% Jan
Jan
Jan
5% Jan
Jan
Nov
Nov
125% Feb
27% Feb
93U Jan
4% Apr
]5>4 Apr
3*4 Apr
125
7
245
Jan
Jan
Jan
150% Feb
69
89
Jau
Jan
202% Mch
2
68
93
Jan
Apr
Jan
934 Jan
Jan
20% May
24i4 Jan
126% Jan
100
154
Mch
28% Jan
41*4 Feb
107
Feb
6% Jan
76 Mch
47g Oct
"34"*Jan
65
23
Feb
Mch
a
Mch
Feb
Dec
38% Feb
Feb
8
Jiy
Oct
Nov
17473 J’ne
Aug
Sep
200% Jan
40
J’ne
117% Aug
107
Aug
218*4 Aug
11/(4 Aug
176
Apr
08% Apr
112
Apr
50% Aug
J ly
0% Feb
22% Nov
136
Apr
131
Apr
145% Sep
40% Aug
105
J’ne
108
12% Sep
21% Aug
8I4 Oct
147% Nov
I37g J’ne
260
Apr
173
Aug
83*4 Deo
07
Apr
220% Deo
3x4 Oct
125
Oct
Oct
Sep
Oct
Aug
sep
114% Aug
12
Deo
Nov
Deo
Oct
34
35
170
71
3H4 Sep
9478 Oct
Oct
Dec
Dec
131
1J
W
10% May
Oct
62
06Xf Nov
40*1 Deo
Dec
54
30
51*4 Deo
Feb
17% JTy
18
.80
24
.45
8
Sep
21% Feb
96% May
585
29
.10
Feb
Feb
J ne
68% Feb
7% May
7% Feb
1
13
Oct
Feb
7% J’ne
Feb
90
9
Feb
8% Sep
5% Dec
22% Apr
7»2 Apr
2i2 May
16
Jan
10*4 JTy
4% Meh
30
Apr
3% Apr
1234 Feb
534 Oct
t57% J ly
16% Feb
B*” Nov
07g Oct
47
Dec
4X2 Mch
6*4 NOV
.40
J ne
47>4 Feb
122
Feb
Dec
Dec
Jan
May
Dec
11% Dec
33% Nov
Jan
Aug
119
605
44% Sep
.35
Jan
86*4 Nov
12
Mch
16% Apr
2% Jan
Aug
19
12x4 Nov
110% Deo
14% Nov
38
Deo
7% AUg
33%F6b
9*3 Aug
c7% Dec
74*4 Dec
10% Deo
18*4 May
Dec
1
6
Nov
28% Dec
1314 Mch
70% Jan
Nov
30
8% Deo
Sep
85*4 Jan
13
1178 Aug
141- Deo
.90
Dec
50
Aug
176
Deo
36*4 J’no
09
Jan
1% Nov
13% Feb
278 Jan
17% Jan
34
Jan
13% Nov
67
127S Apr
18% May
I8i2 J’lV
62
Jly
0% Dec
90
Dec
Feb
28
39
Jan
Feb
17% Jan
39% NOV
59
Sep
44
4
^an
54
Oct
o*4 Jan
40*4 Nov
37% Feb
Ex rights,
J’ne
J’ly
140
215
108
100
Feb
Jan
39*4 Feb
Jan H
Jan
% .ian T'
19
84
75
168
60% Jan 3
5*4 Jan 1:
i*>
162
123
275
136
126% Jan
3
50
77% Nov
14% Mch
£5% Oct
118
139
10
83
21% Jon
92
Jan
Jan
0
8% Jan 11
152% Mch
11% Jan 3
Apr
88
13
Jan
Feb
88% Sep
195% Jan
rl7278 Feb
93 % Mch
ill4
*117
Nov
103
Apr
00% Mch
971- Apr
94
Mch
Jan
Oct
26
165
J’ne
Jan
11% Jan
58% Jan
Feb U
127% Mch
31
13
12% May 4
5
J’ne3u
5o Mch t
10 ‘ May 4
Ms Oct 4
15% J’neao
44% J’ly 12
500 j’ly d
13% J’ly 15
.04 J’ly 6
15
79
195
-
3
3
Jan 17
Mch 8
Feb 10
24
128% Nov
—
204% Jan
103% Jan
26
111
Mchic
Jan
i
Oct 28
lUO
235
153
3U1
22
10
May
46% Dec
149
202
I25ig Oct
106
jau
118
270
Jan
i0i>% Jan
225
Mch lt>
13312 Jail
123 • Oct 7
90
Oct 14
210
Oct i
2t% Oct 3
88
Apr 4
162% Mch U
25
25
25
26
2
25
98
,'au 1U
227
152
208
16
76
Meh
Aug:: 9
Sep 16
Milting
3,320 Adventure Con...... 25
720 Algomah Mining
26
625
8%
Aug
J’ly
Torttagton—....... 35
2*308 United
165% Jan 16
.....
21
.08
234
35
139
109
260
..
3,337
Lowest
123% Jan
104% Jail
J’nOiU
Oct
Oct
Boston Land........ 10
4%
Cumb Telep 4 Teleg.lOo 138%
East Boston Land-..
7%
278 Edison E'ec Ilium.. 100 .239
697g 14,027 Amalgamated Copper 100
28% 7,039 Am Zinc Lead 4 Sm
25
250 Anaconda
25
"l8"
18
2,965 Arizona Commercial. 25
1,545
Atlantic
8*4
25
8%
*.50
.60
200 Bonanza Dev Co.... 10
17%
17%] 5.567 Bos ACorbCop ASH Mg
5
570 Butte-Balaklava Obp. 10
6%
5%
19%
15
19% 2,205 Butte CoaflUon
58
59
945 Calumet 4 Arizona.. 10
560
560
33 Calumet A Hecia_... 25
*20
♦ .05
200
130
285
14
70
....
27%
21%
1*4
60
67g
40
49
*19%
*434
50*4
2034
.60
41%
11%
....
4,066 Giroux Consolidated.
5
34
34
34
391 Granby Consolidated. lOo
38
678
71*1
7%
714 2,380 Greene Cananea..... 26
26% 27
1,345 Hancock Consolidated 25
27%
2
2
1%
1,200 Helvetia Copper
26
15
15
870 Indiana Mining
15%
15%
25
22
23
955 Isle ftoyale Copper.. 2&
22% *22
6%
6%
6%
6
6% 1,150 Kerr Lake....
Last Sale 3%
Oct’lO
Keweenaw Copper..*
37
38% 38%
38% 6,229 Lake Copper GO——.
10*4 10?8 *10%
11
301 La Salle Copper
25
9%
9%
9%
920 Mass Consol.*
25
9%
♦ .40
.40
.60
100 Mayflower ......... 25
*.07
8
.40
70*4
4*4
8%
pref
154 American Woolen.... 100
432
Do
jprei
.....100
269
Last Sale .15
21% 22
6%
6%
4
*3%
37% 38%
103s 103g
9
9%
*4%
5%
*5094 51%
2034 21%
5
*484
n% 11*8
31*4 32*4
8*4
8*4
20%
.08
70
15%
1878
660
20%
7
26
2
*.40
*.10
69%
560
g
18%
5%
20
59
33%
7
26
2
15
.60
5%
.08
70
14% *13%
77
76%
20% *20%
184
*13s
12%
12%
1%
1%
61
5034
7%
734
13
13%
60
6
42
8
’44"
Suburban El Cos.
7,266 Amer Telep 4 Tdeg-.lOO
80%|30,916
*17
*83
4 Lowell.....too
4 Main#
100
4 Providence. 100
.
3278
104%
7878
Albany....100 218
Elevated
100 zL2
1,356 Amer Agrlcul Chem_.100
144
Do
pref
...100
92 Amer Pneu Service... 50
Do
205
pref
50
682 Amer Sugar Refin....100
307
Do
pref
.100
141
Highest
01% j’ly 20
97% Aug
.100
4
Miscellaneous
477g
102%
*15
8%
884
734
9%
1%
12%
Before pay
*4
3414
7%
.50
49
1512
116% 117
7778 7978
119% 120
Ti*4 “11*4 Ti% "11%
8
8
1%
12%
133
*1%
70%
t
21
24
51
3
*2*4
10%
*.05
9
21%
1%
12%
1%
37g
24
61
21%
4%
76%
21%
49
3%
*130
76%
*17
90
59%
107a
11%
29
558
11
41%
413g
49
60
558
38
60
7
40*4
40*4
19
60
558
39%
13%
60
*6
20
60
560
22
.03
72
38%
32%
1,591
105
30
30
*30
31
Last Sale 28
Oct’lO
185
186
184% 185%
55
55
55%
55%
29
29
29
*28%
*17% ‘17*4
*
173g
5%
19%
6*4
334
38%
1078
*76%
*1%
.60
16%
5%
22
132
14
134
*.50
17%
5%
6%
*3%
5
351
5
16
103*4 104
31
29
29
77
*27
8%
22
*40% 42”
12
42
18
2o%
4
9
21
42
*31o
8%
*130
*13
27%
2
5%
11%
33%
11
33
9
*8
*.50
27%
1734
8%
9
.60
JO
2,106
....
78%
1193s 119%
6S34 60%
2%
19*4
6%
61%
213s
...
181% 186
5434 56
44-
1534
51
22
21%
*4*4
*42
2
20%
5%
534
112
112
11%
44%
67%
15%
.20
95%
11%
16%
9%
*.15
95
7
2
16
22
,
87
8
27
11
9
*.40
.10
15578
*29
*28 *
2634
11
174%
86%
*478
117
34
403
2
25
Oct'lO
102
5
....
....
*135%
2778
2%
16%
6%
770
185
441
QO
4778
pref
Boston
Boston
Boston
Boston
Boston
Boston
Do
Boston
4 Wore Elec Cos
45
Do
pref.....
70 Chic June Ry 4 USY.100
89
Do
pref.
.100
48
193
20
Range for Previous Yea]
(1909)
_
Do
10
126
213
35
207
12
175
2
....
684
8
34
7%
155
Sep’10
*10
10
8%
*19
19
19
Last Sale 5
JulyTO
Last Sale 143
Sep’10
Last Sale 8%
Oct’lO
266
268
266% 267
155
157
156% 157
87
8634 87
87
94
94% 95
95
224
225
*224
225
*534
6
6
♦534
112
112
112
*110
*110
112
*111
112
136
138
136
136%
*94
95
95
167
167
167% 169%
Last Salt 13
Oct'lO
19
6
150
9
266
*110
*108
8
34
7*
22%j
*.40
42*4
183^
*.50
6T
*8%
4
*3%
38% 38*4
11
4234
8%
9
*11%
27*4
18
5%
20%
7%
11%
44%
27%
48
102*2
l
*
8*4
71%
96%
*223% 224
18
90
154%
♦101%
139% 140%
32% 32*2
96
963g
33
*145
*8
266
155
86
181%
57%
18
69%
*32
96
*10
19
31
29
90
12
*43
139% 140*8
7734
119% 119%
19
90
102
5
*15
166% 166 166%
13% *---- 13%
104
10378 1037g
104
31
29
47%
15%
11734
116%
*94
166
28*4
I9512 196% *178% 179
577« 5778
57% 57*4
28% 2812 *28%
77% 795s 78% 79*4
♦119% 120% 119*4 11978
19
*88
225
6
112
112
47%
102
5
*5
*94
...
*30
*28
97
10
20
6
150
9
265
*135%
...
16512 166
165% 166
138s *....
13%
103i4 103*8 1037g 104%
31
102
5
15
117
116
19%
174%
Lowest
.
...
19%
92
Last Sale 154
86
85X4 86
86
*46%
15%
154% 155
86
87%
95% 95%
110
172% 174
92% 92%
103% 103% *101% 105
118
*8%
*._..
*30
*23
103%
173%
92% 92%
*154
86
86%
285
112
190
36
*102
171
5
104%
10234
224
127
Last Sale 140
Last Sale 210 June'10
*.... 190
189
189
38
35% 37%
39
*106
108
108
106
102
102
102
103%
....
10
20
*5
*145
*19%
140
19% 19%
8434 85
154% 155
Range Since Jan. 1
Railroads
115 Atch Top & Santa Fa. 100
.
....
*105%
93
96%
154% 154%
85*4 86
95% 95%
96
102
116%
139%
*32% 33%
*223
*534
....
5
*15
117
116
139
6
*8
266
85%
96
*222
6*4
16
*144*4 150
9
266
190
36
4712 477g
101% 102%
102%
Oct 28
-.
*138
*212
190
36
103% 104
48%
19%
140
86
*10
*144% 150
*8
"
..STOCKS
BOSTON STOCK
EXCHANGE
Week
Shares
216
216
*215
132
132
*131
131%
*290
290
290
16
16
*15
71
71
*70
72
Last Salt 10%
Oct’lO
10%
43
42%
42% 42% *42
155
*-.— 155
155
155
114
115
115
113
114
270
Last Sale 260
Oct'lO
130
*131
133% *131
131%
122
122
123
*--—
12234
*
89
*-...
89
89
Last Sale 210
Oct'lO
19% "l9%
*84% 85
154% 154%
19*4
173*3 173%
116
139% 139%
114
154%
*92
*154
117% 118
116%
138*4 139%
117
33
176%
93%
80
105
42%
♦
89
*209
190
36
*105
102
*
102
102
*5
*15
5%
*15
114
*133
190
36
47%
*110
154
___
*
156%
1934
140
187
37
42
♦
*87
*209
...
*138
187
37
*105
10%
*
*129% 130
130"
12134 12134 mo
...
Friday
Oct 27
131
290
16
72
-it
121*4 121*4
*87
*215
131
290
16
*70
72
.
42
265
129% 130
^
.
42
155
114
*208%
20% 20%
19*4 20
*84% 85
8434 84?i
154
154% 154% 154%
—
^
+
Oct 26
216
130
290
__
Thursday
104
103% 103% 104% 104% 104%
1015s *101% 102% *101% 102% *101S4
224% 223
224% *.... 224% 224
12734 127% 12734 128 128
127
*15
*70
g
101?
*
103%
101-%
224%
127%
224% 224%
127% 128
128
Wednesday
Oct 25
104
102
Sales
of the
Tuesday
Oct
43.' Apr
139
Mch
Oct
3
66
6
Oct
NOV
Deo
-13% Dec
158 Aug
44 Jah
Ex-div. aud rights.
A
OuAi*."
BOSTO$r STOCK
Week
1149
Boston Bond Record
1910.]
O0T. 29
•5
KXOH’QE
2
Weekfs
or
Last Bale
Prioe
Fiidav
Oct 28
enuikh Oct 28
Range
ASk Jjow
Hia
loSl!
91 1
105
87*4 Sep *10
...
03
92%
08%
99%
V8%
91
03
91
03
68% 68%
Bostons* Maine 4 %s
1944 J-J
Boston Terminal 1st 3%a.l947 F-A
Bar AMoiliv cons6s ....1918 J-J
Butte A boston 1st 6s—.191? A-O
Butte Klee A Powlst g68.1961 j-P
Cedar Kay A Mo li 1st ?s.1916iM-N
Cent Vermt 1st g4»..MaylU20 O-F
Ofi&u Iowa PlV 1st 6S.1919 A-O
Iowa Dlv 1st 4s .........1919 A-O
Debenture 6s............ 1918 M-N
1922 F-A
Denver Exten4s
Nebraska Eaten 4s
192? M-N
BAS W St 4s
1921 M-S
Illinois PlV 3%s
1949 J-J
Chleoo Ry A Btk Yds 6s.1916 J-J
0011 trust refunding g *sl940 A-O
Ob MU A St P Pub P 6s.. 1920 J-J
Ob M A St P Wis V div 6sl920 J • J
Oblc * No Mien 1st gu 5s.l93i M-N
Ohio A W Mien gen 6s....1921 J-D
Oonoord A’Monteons4S..1920 J-D
Conn A Pass K 1st g 4s...i9«3 A-O
Cudaby Pack (The) 1 st g 6s 1924 M-N
nnrreut stiver
Stiver 1st
1326
1st 6s
1926 A-O
Current
6s
DetCr Han A W 1st 4s... 1946 A-O
Domnuon Coal 1st s f 6s..1940 M-N
Fitonbnrg 4s
1916 M-S
4s
1927 M-S
Fremt Elk A Mo V 1st 6s.. 1983 A-O
43
89
17
99*0 lort
08%
Oct TO
92
92% Sep 10
102% J’ly To
117% Feb TO
97
89
98
'
68%
Feb'04
100% Mar’09
104 Hi Oct ’08
112Hi Jan’03
68
no
103
87*4
88
11103 Oct’07
98% J’ne’10'
lot*4 Mar’10
99 *4 100
99*4 Oct’10
99 Mar’10'
99
Oct *09'
87 7s Sep ’10
101 Hi Sale 101U
»ol*»
90*4 Oot TO
101*4
94
101%
83% 94 Hi
92 % 94*b
102 Hi 102*2
117 % 117*2
63
73
99
88
98
9S*a
Conv deb 6s (ctfs)
Old Colony gold 4s
Oreg Ry A Nav con g
Pere Marquette
96
96
96*4
g
90
Sale
103
Sale
99
100
.Vo
(
Apr’08!
93% Mat’l0 '....'i 93% 07
.!! 99% 99%
99% Feb’10
116*4
117 I 30 113 118
93
90
Oct
MO1 ....f 92%
5! 90
1*0*9
102%
103 |1 12 102
113% Nov’Od
1!
101*4 Sep ’06
115
J’ne’OS .... !
99 % i
1
99
Sale
102** i*08*
184
89
96 *a
98*4
Mar’09
Ayr’06'
06%
06V
Note—Buyer pays scorned interest In addition to the purchase price for
103
Sep TO
134*4
134%
101
Apr’09
98% Sep ’09
136
99
Mi
9,l 97
**09%
l
105
I!
102
1
....i
-H
•
103*2 106
96 % Sale
97
J -J
M-S
79%
75
•••
96% 102
-i
131
136
i*13% *1*16%
...J
93% 99,
103% 103%
1
Mai’02
78% Apr’io
103 % Sep’10
96*9
97
00%
*
102%
United Fruit gens 14*28.1923 J-J
U 8 Coal A OU 1st 8 f 6s.. 19381W-N
U S Steel Corp 10-60 yr 6s.1963 M-N
West End Street Ry 4s....1916 F-A
Gold 4*98
........1914 M-8
Gola de oenturo 4s.......1916 M-N
Gold 4s
1917 F-A
Western Teleph A Tel 58.1032 J-J
Wisconsin cent 1st gen 4*1949 J - J
99
90
Oct TO
113% Aug’10
6s.. 1012 J-J
'
•
**78% ‘*7*8%
108
88
*15
104%
110
1
Apr'07
*97** **9*7%
100*, Mar’10 ,..,!;100*4 100*4
101*2
101*9
ill 99% 101%
104% Oct TO ,...;104%109^
l
! 95% 97%
97%
97*4
165
165
RRAlgrg4s.l9»7 J-J
20-yearoonv4a
1927 J-J
99
03 Hi
92
.
y"
100%
9? Aug’1 O'
102% Ang’041
102 %
102 %j
102
Feb’09
100 *2 Sep ’08
16s... 1019 J-J
gen 4 *38.1941 J-J
Terre Haute Eleo g os....1929
1018
Torrington 1st g 6s.
100%
104
Low High
l;i 90% 101
Hig/i
.
s
99
100
Since
January 1
1
1948
1924 F-A
4s..1046 J-D
Rutland 1st con
Rutland-Canadlan 1st4sl949 J-J
SavannahElec 1stcons68.1952 J-J
Seattle Eleo 1st g 5s
1030 F-A
Sliannon-Arus 1st g 6s.... 1010 M-N
Apr'03'
95%
deb
Range
'33
..
116*4 Bale
91
93*y
Union Pao
Aug’09!
95*
96 %
100
117
76
09
83%
101*4
92 7a
115*2 115*2
66*%
96% J’ne’10
103 *s Apt *05'
140
......
Oreg Sh Line 1st g 6s. ....1922 F-A
99*8
34 100
89
Mar’10
133
A 8K Low
100
Hal
-
or
Last sale
England cons g 6s... 1945
Boston Term 1st 4s
1939
New River (The) conv 5s. 1934
N Y N H A H con deb 3 *281956
Repub Valley 1st
Anr'IOj
99
89
Week's
Range
Oct 28
1916
6s.
103
Dec’07!
112*4 Jan >031
A-O
Unstamped 1st 6s
1933
GtNorU B A(4eoUtr4s 1921 J-J
Registered 4s...*
1921 Q-J
87*
101 »a 101*4
99 *a 101)
99 I
Oot’lO
100*4
Friday
JUKI
98**2 *98%
115% Jan’10
Feb'05
126
99
102
91
Price
a*
New
113 Hi May’10
101
75 2
niinots Steel deben 5s....1913 A-O
la Falis&Sioux Cist 7s.. 1917 A-O
Kan C Clin A Spr 1st 5s...1025 A-O
Kan C Ft S A Gull ext 5s..l911| J -D
Kan C Ft Scott A M 6s....1028 M-N
Kan CM A Bgen4s.......1034 M-S
Assented income 5s
1034 M-S
Kan C A M Ry A Br 1st 5sl020{ A-O
Maine Cent cons 1st 7s...10121 A-O
Cons 1st 4s
1912! A-O
Maro Hough A Ont 1st 68.1925 A-O
Mass Gas 4 *28
.....1029 J-J
Mich Teieplst 6s..
..1917 J-J
Minne Gen Eleo con g 5s 1029 J-J
New Eng Cot Yarn 5a....1929 F-A
New Eng Teleph 6a
1915 A-O
113 Hi 114
85
88
87
99
l
112
103
Feb’10
J’ne’Ol
100
BOSTON STOCK RXCH’GE
week Rndinh Oct 28
93*
87*4
2
26
1
112
04
92
Since
January
High.
18 1()0'4 103
91
Bale
104 7e 105 St 104 %
112
Range
So Ja>w
High.
102%
101*4
00%
AmAgrioulChem 1st 5s.. 1928 A-O
Am Teiee A T*i coll it 44.1929 J . 4
Convertible 4s.
1996 M- 8
Am Writ Faoerlsts 16s
1919 j -j
Am Zinc LA 8 deb 6s.... 1915.M-N
Ariz Com Coy 1st conv 6s 192» J -D
AtonTop A SFe gen g 4s.. 1996 A-O
Adjustment g 4s.... J’ly 1995 Not
Stamped
J’ly 1995 M-N
60-year conv 4s
1955 J -D
10-year conv 6s
1911; J-D
Atl Gull & W IBS Lines5s.’69! j-j
Boston £leot L consol 6s.1924 M-S
1916 J - J
Boston 9b Lowell as
HOADS
feS
Sale
6145
185
169
104% Oct TO ,..JilOl%105%
97
98*4 J’iy’10
101*4 j’ne’09
98*9 Apr’10
1
98
98
96*4
07% 14 94% 99 ;
94% 94%
94% Jan TO
....
97% Sals
8" llH
all Boston Bonds. * No price Friday*) latest bid and asked.
H Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
share Price*—Not Per Centura Price*
Monday
Oct 24
Saturday
Oct 29
Tuesday
Wednesday
Thursday
Friday
Oct 26
Oct 26
Oct 2?
Oct 28
Sales
ACTIVE STOCKS
fivJek
! Shares
(For Bonds and inactive
Stocks see below)
j
126 126%
*20% 21%
.
“■! IK
126
126
*21
*126
21
,
21
43% 43%
43% 43%
*14% 16
125
21
•42
♦62
64
♦00
02
125%
125
125%
21
♦20
21
126% 126
•20*9 21%
....**
43
♦42
14%
*14% 16
24% 24%
•24% 25
42%
15
♦
•14
......
490
Range tor Previout
Jan I
Year (19021
|
Lowest
j
Haiti more
Con. Gas EL L. A Pow.100 40
Do pref
1001 80
Mar21
Jan
100 18%J’ly29
Do
2d pref........100 40 Oct 17
United By a Electric.. 60 12% May 3
Highest
Lowest
Highest
Mar 48 Dee
Mar 89 May
£>028 100
Jan 121% Deo
27*4 Jan 3 11% Feb 28% Deo
4? Jan 8 22% Feb 48 Deo
63
90
» 132
Marii
50115
2/123 Northern Central
loo Seaboard (new)
43
Bangs Since
Oct 18
30
J’ly
76
14*
15% J’ly 16
b% Feb
14% Deo
Philadelphia
43
44%
*11%
*49
83
43
44%
’40%
33%
79% 80%
-
*8% 10
•74% 24*4
•04% 06%
85*4 86%
66
ae%6
46*4
46%
16% 16%
18% l»%
T«4»is 77®iS
8
8%
42% 42%
83%
83%|
•42%
43%
44%
*11% 12
48% 40
32% 33%
79% 80
44
•
••••A
♦*••*-
24% 26%
04% 96%
84% 87
66% 66%
40%
46%
16%
15*4
18%
7$%
8%
77%
8%
38
42
83% 83%
Inactive stocks
Amal Asbestos Corp-100
Preferred
100
American Milling
10
Amer Pipe Mlg
100
Bell Telephone (Pa). 100
Cambria Iron
60
Central Coal A Coke. 100
ConsolTrao of NJ...100
Easton Con Electric 6.50
Wayne AW V
Germantown pass
Indianapolis St
♦
43%
44
11%
11*4
>i<48%
40%
32
82%
70%
70
24% Vi"
94% 04%
84% 85%
66% 66
*46% 46%
16% 16%
76%s 76%j
8
c*xe
88
83
4
30
83
Ask
46
46
Pennsyi RR receipts....
Pennsylvania salt
50
Pennsylvania Meel..loo
Preferred
100
Phila Co (Pitta) pref...60
Phil German A Norris.50
Phila Traction
50
Railways General
10
Busquea Iron A Steel..6
ride water Steel.......10
Preferred
.10
Union Tr ot ind
loo
United N J RR A C.. 100
Unit Trao Pitts pref..50
Warwick Iron A Steel.lo
loo
Welsbachco
West Jersey A beaSh.50
Westmoreland CoaL...50
Wilkes Gas A Elec..100
43% 43%
*11% 11%
40*9 40*9
31
44%
44% 44%
44%
11% ♦11% 11%
78% 78%
40
49
49
32%
70
32%
72%
‘*26”
25%
25
26%
76% 76%
*94% 06
85
84
65% SO* IS
44% 44%
15% 16%
16% 16%
76% 76%
8
80
8*a
40%
8%
8%
80% 40
82*4
82%
83
04%
04%
83%
85 %
66
65*ie
44%
46%
16%
16%
16%
17
■'73*
83
PHILADELPHIA
ChOk AG gen 6sT0
*8% **b*%
83
Bid I Ask
92
83
*84**
AmBysoonv6s 1011. J-D
Atl City 1st 5s g T9.M-N
Betnie Steel 6s 1098. U-F
Choc A Me lst6e 1949 J-J
10% *2*6**
40
82% 82%
79
79%
*8%
8%
26
26%
*94% 04%
84% 85%
66
66%
*44% 45
16% 15%
16% 16%
76% 77
8%
8%
89% 40%
83
26
Dec 43 Jan
50 17 % Sep 19 28 Jan
44% J’ly 48 Dec
Railways.... 60 41% J’ly 21 50 Jan
60 40% J’ly 26 53% Jan 10 32% Feb 19% Deo
1,275 Cam brut Steel
Electric Co of America 10 11% J’ly 29 12% Jan 14 *10% Jan
12% j’ly
222 Eiec Storage Battery.. 1U0 42
J’ne30 64% Marll 43 JaU 63% J’ly
0,32 i Gen Asphalt tr etis ....100 19% J’ly 26 34% Jan 29 15 % Jan 33% Dee
2,548
Do pref tr Ctfs ....100 64 J’ly 26 84% Jan 10 63 Jan S4%Dee
0% Jan 15 Apt
Keystone Telephone... 50
7 J’ly 6 13 janio
10,263 Lake Superior Corp....100 15% J*ne3o 28% Jan 3 14% Jan 33% May
181 Lenigh C A Nav tr ctfs. 60 86
JTie3t> 123 Jan 7 06 Jan 125 % Dec
41,33i Lebigh Valley
60 62% J’ly 347 121% Marie 67 Feb 113 Sep
2,274 Pennsylvania RR
60 61**la J’ly 2tj 69*16 Mar 9 63% Feb 76% Sep
096 Piuladelp’aCo(Plttsb). 60 42
J’ne3U 63%Jan 8 40% Feb 51% Dei
7,33o Philadelphia Electric]]. 26 *13% Feb 3 16% Mar 18 11% Fob 14% Deo
24,602 Phila Rapid Transit... 50 15 Apr 28 23% Jan 3 24% Jan 36 % Apt
11,you Reading
60 65% J’ly 26 86 Feb l« 60% Feb 86% Sep
5% Jan 7**18 Mai
2,112 Tonopan Mining ...... 1
6%Jan 2a y*l8Mayl3
15,79. Union Fraction
50 38 Oct 24 52% JkU 3 60% Jan 68% Mi
60 70 J’lj26 95% Jan 10 84% May 05 *9 D
1/109 United Gas Ampt.
215 American
43
48
♦ 11%
32
48
43
BergAEBrw 1st 6a*2lJ-J
100
Leh Vail Tran v 10...50
preferred v t c
60
Lit Brothers
10
Little Schuylkill..
60
ElnehUl A schuyl H..50
N Haven iron A Steel.5
Northern Central
50
North Pennsylvania..50
43
Honda
Prices are all u and
interest.*
Alt ALVEIee 4 %g*83.F-A
Am Gas A Elec 5s’07. F-A
60
KeystoneWatch Case. 100
1*14* *
106%
86
•T*
106%
Indianapolis Ry 4s. 1088
50**
Interstate 4s 1043 ..F-A
4
15
16
5
16
18
*61*
i.24*
125%
100*
•****•
*41*
106%
42
160
10
11
RRs 4s g
Gen M 4 %a
g.l024.U-F
Annuity 6s..
J-D
109%
103% 104%
116%
07
Gen cons 4s 2003.M-N
Leh V Tran oon 4s r35J-D
1st series B 581933.M-S
New Con Gas 6s 1048 J-D
Newark Pass oon 5s 1930
N Y Ph A No 1st4s’39 J-J
Income 4s 1030...M-N
N oUluoTrac con5s’10J -J
Penn Cons 5s 1919.. Var
Penn A Md Steel con 6s.
Pa A N Y Can 5s *39. A-O
97%
loi
9*0**
109
10%
U
40
43
52%! 64
this day.
People’s Tr tr certs 4s *43
p Co IstA col tr oa’40 M-S
ConA coi tr 5s 1951M-N
Phil Elec gold trust otfs.
Trust certifs 4s
P A E gen Mox ’20.A-O
Gen M 4s g 102O..AAO
-
-
-
-
PHILADELPHIA
Bid
Ph A Read 2d 6s '33. A-O
Con M 7s 1911.....J-D
Ex Imp M 4sg ’47.A-O
Terminal 6s g 1941.G-F
P W A B coi tr 4s ’21.J-J
Portland Ry 1st 6s 1030.
Boob RyA Leon 6s ’54J-J
5s’10.J-J
Un Bys Tr otfs 4s’40J AJ
United Rys inv 1st coll tr
sfdS 1926.
M-N.
U Trao Pit gen 6s *07 J-J
Weis bach s f 6s 1930.J-D
Wiks-B GAE oon5s’55J-J
BALTlhOKI
Inactive Stocks
Ala Cons CoaiA Iron. 100
Atlanta A Charlotte.. 100
Atlan Coast L (Conn)lOO
Canton Co
..100
Cons Cot Duck Corp...50
Preterred
50
Georgia sou a Fla...100
1st pref
100
2d pref
....100
G-B-S Brewing
100
Benda
Prices are all ** and
interest
Anaoostia A Pot 5s.....
Atl Coast L(Ct)ctfs 6s J-D
Ctls of indebt 4s....J-J
6-20 yr 4s 1025
J-J
Balt C Pass 1st 6s ’ll M-N
Balt Fundg 58.1916 M-N
_
93 %
102
102%
94% 16
101
4*
76% 76
lu8
loo
•
Balt A P 1st 6s m 1 ’ll A-O
B S P A C 1 St4 %s ’53F-A
Balt Trao 1st 5s..’20 M-N
N o Balt Div 6s 1942 J-D
Cent’i Ry oon5sl932 M-N
Ext A imp 58.1032 M S
ChasCityity lst5s’23 J-J
Chas Ry G A El 6s’00 M-S
BALTIMORE
| Ask
00%'
115%'
••••*•
Bid |
Chari C A A 2d7sT0A-O
ioi%'ioi%
City A Sub 1st 5s..’22 J-D
City A Sub( Waslist 6s’48
Coal A I Ry 1st os’20F-A
Col AGrnv lstSs.1910 J-J
Consol Gas 6s..1030 J-D
r
•••*•*
••••••
*08%
Ctfs indebt 4%s
•
<*•«•**
*74**
80
81
‘*8*0**
FairACITr ist5s’38.A-0
Ga A Ala 1st oon 6s ’46J-J
Ga Car A N 1st 5s g *20 J-J
Georgia P 1st 6s...’22 J-J
GaSo A Fla 1st 5s 1046J-J
89% G-B-S Brew 3-4s 1961M-S
2d income 5s 1051 M-N
KnoXv Trae 1st 6s ’28A-0
LakeR El 1st
80
55
90
......
232%
116
gu5s*42M-S
MaconRyA Ltlst5s’53 J-J
Memphis St 1st 5s’4d J-J
MetSKWash)lst5s’25FA
Mt Ver Cot Duck
1*2*0
6
4%
1st os.
NptNAO P 1st 6s’38 M-N
NorAPorTr lst5s’J6J-D
20% Norfolk St 1st 6s ’44..J-J
North Cent 4 H»s 1025 A-O
Series A 5s 1926....J-J
96
92
Senes B 5s 1020....J-J
85
80
Pitt Un Trao 6s 1097 .J-J
1
2
Poto Val 1st 6s 1041..J-J
Sav Fla A West 5s ’34 A-O
Seab A Roan 5s 1926.J-J
South Bound 1st 5s..A-0
100% 101
U El LAP 1st 4%s’20 M-N
104 105
10
******
*90*
100
104
03
*1*00%
Un Ry A El 1st 4s
income 4s 1040
*40 M-S
J-D
Funding 5s 1036.. A-D
Va Mid 2d ser 6s ’ll.M-S
3d series 6s 1016.. M-S
9J%
4th ser 3-4-6S1921. M-S
100%
*92% 6th series 5s 1926.M-S
02
Va (State) 8s new ’32.J-J
108
107
Funddebt 2-3s 1901. J A
109% 110%
West N C con 6s 1014 J -J
105
105
•
• uammm
102
00
104
WesVaCAPlst 6gTl J-J
WL A Weld 5s..1035.J-J
Ask
i*05
106
IGl
101%
100
100%
197
107% 108%
106
J-J
101% 101% Cons GE AP 4*as’35.J-J
,....100
Exchange 3 %s 1030 J *J
Con 4s 1939.,
A-O
Penn Steel 1st os T7 M-N
244
-
Pret
1914.V1-F
Leh V O 1st 5s g ’33..JJ
Leh V ext 4s 1st1948. J -D
2d 7s 1910
M-S
Consol 6s 1023.....J-D
-
U Trae Ind gen
109
103
J-J
Ool St Ry 1st oon 6s 1082
Con Trao of N J 1st 5S.’38
E A A 1st M 6s 1920 M-N
Eleo A Peo Tr stk tr ctfs
Ball Gas-L 1st g 6S1028
.
.
Spanish-Am Ir 6s ’27 J-J
Lehigh Nav 4%S T4.Q-J
•Bid and asked; no sales on
16%
16%
100
Indiana union TT....100
Insurance Co of N A..10
Inter 8m Pow A Chem.50
Keystone Telephone ..50
Preferred.
50
43
••••*•
Bid
PUllJtDKLPillA
Ft
*42% 48%
80 American Cement
■
24
24
»3
97
104
*83
97%
104%
104% 106%
112
115
106
42
108
43
7
8
102% 103%
106
05
07
06
06%
• •*»•♦
74
74%
83%
84
lU5
1U4%
1U0%
100%
*••«••
105
i*06**
105
00%
09
85
85%
62%
62%
84%
85
ii>3
103
104
84
84
85%
85%
10*
100% 100%
105
no
112
04
1} Ex-rl»lits. HflSpaid. t$l2%padd. 1 #13% paid. 4$35psi«L a Receipts. 6825 paid, c $30 paid. d$ 42% paid.
f
1150
THE CHRONICLE
Volume of Business at Stock
TRANSACTIONS
Exchanges
Electric Companies
AT THE NEW YORK STOCK EXCHANGE
Block*.
Saturday
Shares.
<
....
Monday
Tuesday
Wednesday
...
...
......
Thursday.........
Friday
...........
Total
,
Railroad,
Ac.,
Bonds.
Par value.
382.407
030.465
$36,7382200
577.692
683.847
744.965
63.650.700
61.940.700
640.502
49.730.200
State
Bonds.
$1,215,000
1.992,000
2,942.000:
$7,269,000
Sales at
Week
Exchange.
81.500
Stocks—No.
shares
Par value
...
Bank shares, par.....
Bonds.
$391,500
$10,000
1909.
1910.
$30,000
325.500
20.165.000
691.500
12.37ft, 000
Total bonds.......
84
117
105
1909.
$348,200
87,481,950
600,354,700
$12,777,5091 $20.520,500
$561,700
31,646,400
1,082,612,100
$638,184,850! $1,114,820,200
s
DAILY TRANSACTIONS AT THE BOSTON AND
PHILADELPHIA
EXCHANGES.
Union
e
M is
Unlisted
shares.
shares,
Saturday...
Monday....
Tuesday
Wednesday.
Thursday
9,972
12,214.
lft.69?
Unlisted
shares.
12,916
41.269!
20,840;
32,076!
12.357
13,09 li
19,849'
15,426
16,5111
>112,81^
Total
$34.!
10,952
28.565
15,883
..
Listed
shares.
11,381]
20.811
18.195
Friday.....
Bond
sales.
$27^300^
7Q.506
142.376
Preferred
10.'
Gold 4 }^s 1036...J-i>
Electric Boat...
lOu
i’referred
10n
Empire Steel
lOu
Preierred
10j
?General Chemical
10u
e Preferred
1 On
Cold held Con Mines See S
uold Hill Copper
1
ireene-Uauaoea
20
...
are
“and interest"
now
Street Railways
Bid
New York Oi'v
Bleeck St & Fu F stir.IOC
15
1st mtge 48 1950 ..J-J
52
100 12ft
B’y At 7th Ave stk
2d mtge 5s 1914 ...J-J
08
Con 5s 1943—See Stock
Exc
B’way Sun 1st 5s gu 1924 102
Cent‘1 Crojst'n stk_—10U
1st mtge 6s 1922 ..M-N f 80
Oen Pk N & E R stk ..10(1
18
Ohr't'r & 10th St stk..100
80
Dol At 9tb Ave 6s See Stock Exc
Pry D E B At B—
1st gold fts 1932
J-D
65
Scrip 6s 1914
F-A 1 3ft
Eighth Avenue stock. 100 20J
Scrip 6s 1014
F-A J 95
$2d Ac Gr St F'y stk ..100 200
St
St
*2d
M At
N Ave. 100
1st mtge 6s 1910.M-s
2d income 6s 1915.J-J / *0
Inter-Met—See Stk Exch ange
Lex Av At PavF 5s See Stk Exc
Metro pol St Ry—See Stk Exc
Ninth Avenue stock..100 155
Second Avenue stock. 100
1ft
1st M 6s*09 ext To— M-N
09*4
i Consol 5s 1048
F-A t 66
kSixth Avenue stock
lOi
lid '
feau Boulev 5s 1045—J-.
60 ;
Bo Fer 1st 6s 1919.—AH.
88
Third Avenue—See StocI Exc
f Tarry VV P At M 6s 192< / 50
l
YkersStRK5s 1046 A 1
75 j
|$th At 29th Sts 5s '9ft A-(j ,»•
Twenty-third St stk IOC 100
-
.
Union Ry 1st 5s 1942.F-A
I
Westchest 1st 5s '43 J-J
100
05
.
60
140
100
1st
8,045
6.264
10.928
9,198
16,881
11,634
....
51
112
e
112
90
85
24
00
list
100
220
-W--*•
6ft
list
list
list
180
16
62,950
Signal Co com.. 100
Havana Tobaooo Co—100
Preierred
luu
1st g 5s Juue t '22 J-D
lecker-Jones-Jewell Mil.
1st 6s 1922
M b
...
07
*8
65
I!
Attan Avenue RR—
L Con 6s g 1931
A-O
| B At WE 5s 1933—A-O
99
97
Stock
10 100
[ Con 5s—See Stk Exch ange
(kin Hgt' 1st 5s 1941 A-C
m
Ikln Queens Co Ac Sub—1
a 1st g 6s '41 op T6.J-i
98
elstcon6s'41 op'16 M-N
06
Iklyn Rap Tran—see Stkj Exc
k>ney Isl At Bklyn loo 60
1st coos g 4s 1948..J-J
78
« Con
g 43 1055..
.J-J
75
Brk 0 Ac N 6s 1939.J-J 05
[Ings C El 4s—See Stock Exo
assau Elec pref
100
Brooklyn City
—
1944
A-0
1st 4s 1951—See Stock
f W bg At Flat 1st ex 4
teinway 1st 6s 1922—J-J
-
103
Exc
87
108
102
102
163
list
102
Inffalo Street Ry—
1st consol 5s 1931—F-A 104
Deb 6s 1917
A-O 104
lolumbus (O) St Ry.. 100
02 S
Preferred
100 101
k>ium Ry con fts—See Phi •a list
Crosst*wn 1st fts ‘33 J-U 100
Conn Ry Ac Ltg com.lOO
75
a Preferred
100
78
i 1st Ac ref 4 Hs—See Stk
Exc
trand Rapids By pref .100
83
Loulsv St fts 1930
J-J 104
ynp Ac Bos lnt fts '24 i-U
104
New Orl Rys At Lgt.100
235*
e Preferred
,10d
Oil j
Gen M g 4 4s '35 —See a tk K J
'uh Serv Corp of N J.IOfl 108
]
Tr ctfs 2% to 6%perpe1
90U
North Jersey St Ry.lOt
60 1
1st 4s 1948
M-N
74W
...
__
ft Par share,
_
_
100
Exo
158
75
83
80
100
1st
.
...j
105
'1st
02
106
108
1
c
97
98
96U
98U
07V
0 >V
lUl
Hoboken Land At
e 5s 1910
Houston Oi
Imp lOu
M*N
low
Realty
ingersoil-Kand
e
t
Preferred
88
35
4
8
55
12
59
6
103
.10u
Hudson
37
105
42
997g
7V
”7V
41
110
93
100
lOu
com.lOO
10;
42
m
m
mmmm
105
iotercontln t l Rubber. 10*>
2034 27
interaat'i Bank'g Co. 10u
95
105
mteiuat’ Mer Mar—See > tk Ex
)St
iiteruatioual Nlcke...ion 138
143
Preferred
lOu
90
i3
1st g as 1932
92
A
94
991
mm
6% notes Oct 1917.A-0
^
HtOC
102
08
100
90
72V
Exc
1
997g
93/g
Ah meek Mining.......25 *I9j
Alliance
Realty......100 120
American Book
...100 150
American Brass......100 XUO
American Chicle com. 10b 224
Preierred ......... 100 100
Am Graphopnone com 100
5
Preferred
.100
20
Amer Hardware ...—10o 117
Am Malting 6s 1914..J-D
100
Amer Press Assoc'n..100
95
Am St Found new—See s tk Ex
6s 1935
A-U 100V
Deb 4s 1923..
F-A
60
American Surety..... 60 205
American Thread pref
*4 V
Am Tobacco Co com..100 426
Amer Typefders com.lou
30
5C
*43
280
102
106
Brooklyn Un Gas—NwStk
Buffalo City Gas stk—100
1st 5s 1947—360 Stock
Cities Service Oo
ioj
Pref erred. ......... 100
Con Gas of N J 5s '36.J-J
Consumers' L H As Pow—
6s 1938
J-D
Denver Gas As Elec... 100
Gen g fts 1949 op.M-N
Elizabeth Gas Lt Co—100
I05is \ Essex & Hudson Gas.lOo
1 |Uas As Ei Bergen Co..100
« Gr Rap 1st fts
'15.F-A
| Hudson Co Gas
100
102H |Indiana Lighting Co.. 100
76
4s 1938 op
F-A
1 Indianapolis’ Gas..... 00
80
I'St
1st g fts 1952.....A O
86
Jackson Gas fts g '87. A-O
lUfelj e Laclede Gas
100
105
0 Preferred
100
23V Madison Gas 6s 1926. A-0
61V Newark Gas 6s 1944..Q-J
1st
Newark Consol Gas—lou
0 Con g 5s
169
1948...J-D1
lOOlj No Hudson L H As Pow—
5s 1038
A-C
7$i Pacific Gas As E. com.IOC
Preferred —„10<i
Pat As Pas Gas As Elec.IOC
e Con g 5s
1949...M-.v
S0 6
104
r-f
Preferred
---.10
Deo g 6s 1939
M-N
Amer Vvritlng Paper
100
Preferred
loo
r
1st s jr 5s '19 op ’09 J-J
A MGf & WIndSSL nes. 100
Preferred
——100
Ool tr g 5s 1959
J J
Barney At Smith Car 100
Preferred
100
45
fto *Z3912
4J12
283
*4
93
Exc
4
Exc
62
100
list
6
list
64
03
06
139
81
05
135
33
64
13
102
79
85
/ 88
138
3$
65
Borden's Oond Milk.. 100
Preferred
...loo
British Col Copper
Butte Coalition Mining 15
Casein Oo of Am com. 100
Preierred
100
Casualty Co of Amer—100
104*4 05U City Investing Co—100
102
108
128
Oft
130
08
IU3I3 I04i2
110
65>4
87V
88
100
90
92
75
Itiu
100
941g
67l2
8
52
80
113
112
140
226
120
1OU2
45
11/
105
*7
*19
3
56
700
58
...
Debenture
0312
/Flat price,
—10u
4s 1951
n
.A-O
Nominal.
Otis Elevator com....lOu
Preferred
lOu
Pittsburgh
Preferred
01
200
i2o
155
123
22S
lo2
_
120
lo2
105
list
102
71
.08
5V
423
43
100
100
3
25l2
89
Brewing.. 5b
5o
Pope Mfg Co com..
100
312
40
s
42
*2058
*lsi«
Preferred
110
270
207g
lig
x40
Exc
100
60
dst
25
7j
200
35
78
210
5
102
*4
40
9j
*23
*41V
....
1114
17*
314
52
06
23V
Exo
nit
60
62
80
i05
150
123
10^
io4
At Lt.lOt
131
Seneca Min ng...
2* *
Singer Mfg Co
10i
340
-south Iron As S com ._10t
0
Preferred
10i
18
Standard Cordage.._.lOt
is
1st M g 5s '31 red. A-G t 14
Adjust M 5s Apr 1 1931 / 3
Standard Coupler com lOu
Preferred .........10a 100
standard Milling Co—10a
16
Pro'erred
lot
52
1st 5s 1930.
M N
84
Standard Oil of N J..10U 609
Swift Ac Co—See Boat Sts
Exc
1st 5S—M'C OUic OtoCdi
EXC
Texas Company—See Stk Exch
Safety Car Heat
»
2OO
107
132
60
J50
11
21
U
18
4
40
....
18
...
ionopad Min (Nevada)
Trenton Potteries
com
1
100
Preferred, new..
loo
Trow Directory..
.100
Underwood l’ypew—.100
.......
4
10:>
:.6o
119
19J
Royal Bak Powd com.lot
TV
52
-8V
9V
21V 22i2
110
115
Realty Assoc (Bkfyni.lo^
Preferred
100
Union Typewriter couilou
120
1st preferred ......100
IwO1’
2d preferred
.100
7
U o'tea Bk Note Corp- 60
20
Preferred
5u
3'2 United Cigar Mfrs._..100
65
e Preferred
10u
140
United Copper.......100
lbO
Preferred .........100
U S Casualty......
100
U S Envelope com...100
Preierred .........100
U S Finishing .......100
40
Preferred
100
1st g os 1919
J-j
Con :5s 102 9
*65'
J-j
U S Steel Corporation—
108
106
Col tr s f 5s '51 opt '11
5
Ool tr s t 5s ‘61 not opt
99
U S Tit Gu At Indent..100
«Utab Copper Co—See Stk
2U2 30
*
.8
100
145
Texas Ac Pacific Coal 10U
Title ins Co of N Y
101)
40V 41V
49
Preferred..
10u
Pratt At Whitney pret.lOt
Producers Oil
.lot
«
681 j
36
105
*lig
92
87V
245
275
145
45
90V 101
Niles-Bem-Pond com.lOO
07
Nlplsstng Mines..
o
*llig
julo Copper Co.
ldl*!*3!#
e Ontario S'lver
...100
2i2
255
Preferred
100 10J
Claiiln (H B) oom—100 10)
e 1st preferred..... 100
90
e 2d preferred
100
96
Ool At Hook Coal&I pf 100
1st g 5s 1917
J-J 1 45
Col tr 6s Got 1956—J-J
45
Preferred
Nat Bank of Cuba..._10t
Nat'i Surety
.100
Nevada Cord'd Copper a
Nev-Uiah Min At Sm. 10
e New Central Coai
2u
NY Air Brake 6s—See Stk
N Y Biscuit 6s 1011.M-s
eiNew York Dock....100
e Preierred
100
N Y Mtge At Security. 100
N Y Transportation.. 2u
a
Pittsburgh Coai—See Stk
10
10
a
66I4 Consol Oar Heating...100
88- Consol Hubber Tire-.100
102
23>2
87V
125
Cellulo’d Oo.
100 127
Cent Fireworks com..100
Preferred
...—loo
Central Foundry..... 1 oo
Preferred
...100
Deb 6s 1919 op '01 .M-N / 35
92*3 Chesebrough Mfg Co—100
8ft
103
2
...
...
03
..
35
102
Beth ”m Steel Corp—See a tk Ex 1st
Bliss Company com.. 60 1-4
i3o
Preferred
5o 118
i 22
Bond At Mtge Guar...100 250
83*6
110
205
90
300
136
78
07
07
...
103
h
--
.....
55
76
102
50*
t....
Industrial and Miscd
Exp g 4s 1947 J-D / 00V
50
100
Exc
85
10(
Preferred
101
douonganeia it Coa'_. at
Preierred
at
Mortgage Bond Co
10s
Ust
/ 85
/....
24
.25
135
35
As Wllkes-B Coal
dv.
Lori'lard (P) pref
lOi
viadtson Sq Garden._lo>
2d 6s 1010
M-i>|
.Imihattan Transit... 2i
May Dept Stores
Hallroad Securities Co—
IllC stk tr ctfs ser A 62
Seaboard Company—
1st preferred......100
Com Ac 2d prei—See Bai
Seaboard Air Line—
Coll 5s ext May Tl.M-S
West Pac 1st 5s '33—M-b
1US
-en
w
5
6
61
109
illsNat Rys of Mexico—See a t Exc Use
North n Securities Stubs.
loO
112V
Pitts Bess At L E
_.5u
*34
37
Preferred
50 *6il2 /2l2
e
86V
Mtge Oo
e
Railroad
sChic Gt Woom tr otfslSce
e Preferred ir ctfs
/
Chic Poo As St L—
Pnor lien g4 ^s'30. M-S
Con mtg g 6s 1930..J-J
Income 5s. July 1930
Chicago Subway
too
Kan As Col Pac 6s 1938.F-A
101
104
100
08
40
sawyers
LOI*97
99- 100
10J
100 v
Wabash 4 J*s 191
M-N
WestTel.p AsTos '12.F-A
Westlngh'e El &M 6: 191 j
102
list
166
1U2
lAmer Light As Tract—IOC
j Preferred
...too
] Bay State Gas
.50
jBlngh ton (N Y> Gas Wks
1st g 5s 1938
A-U
Preferred
1»2
00
list
uew.lOo
Preierred
9>
40
75
29
09
Adams
Other Cities
As Elec com..
St Jo«Pnh (rs« 54 1US7
t RmIq
‘f/
Street Ra ’ways
Ask
Bid
Serv Corp N J (.Cow
Cons Tract ol N J..10Q
72
74
1st 5S 1933
J-iJ 103
104
New’k PasRy 5s 30 J-J
ioei2 1071*
Rapid Tran St Ry 100 235 246
1st 6s 1021
A-U 103
J C Hob At Paterson—
4S
1949
g
M-N
74
75
So J Gas El Ac Trac.100 128
1>2
Gu g 5s 1953
M S
97
961?
No Hud Co Ry 6s 14 J-J 102
6s 1028
J-J 102
Ext 5s 1924
M-N
98
Pat Ry con 6s '31..J-D lift
2d 6s opt 1914..A-O
99
101
So Side El (Chic) -See Ch
lC&gO list
Syracuse R T 5s '46..M-S 1j1 loin?
Trent P As H 6s 1943.J-D
97
United Rys of St L—
Com vot tr ctfs....100
10
10»j,
e Preferred
.100
43
4314
Gen 4s 1934—See Stock EXC list
UnitRys San Fran See Stk Exo list
Wash Ry As El Co....100
3ft
8 n4
Preferred
.100
89
00
4s 1951
J-D
j Am Gas
Other Cities
_
except where marked
5S Mch 1 19J 3
M-S
Soutn Hy g 5s 1913..F-A
Tidewater 6s. 1913 gua*
1
Brooklyn
6s
F4Hs'12op.F-A
New York
Cent Un Gas 5s 1927 .J-J
Con Gas (N Y>—See Stk
e Mutual Gas
lou
New Amsterdam Gas—
1st consol 5s 1948..J-J
N YAcERGas 1st 5s '44 J J
Consol 6s 1945..
J-J
N Y As Richmond Gas.10(1
N Y Ac WestchesterL'ht'g—
Deb g 5s 1954 guar.J-j
Nor Un 1st 5s 1927..M-N
e Standard Gas
com..IOC
e Preferred
1()(
1st fts 1930
M-N
r
.ler'g-Hali-Mar
20
.
Gas Securities
85
20
215
102
75
85
dan
9J
100
-
83lg
00
130
85
02
•1st
80
195
'
__
100
40
300
iuggenhei m Expior’n 100
Hackensack Water Co
Kef g 4s *52 op *12..J-J
...
m
105
list
-
Am CHg ser A 4s 11
M *•,
99V 100
Ser B 4s Mch 15 '12 M-S
98
0Hl4
Bait As Ohio j$sl91..J-D
987s j9k
Bond
iethleh '•■tsel os '1%—M-h
0512
00‘: International Sait——1
0
sales.
"hie Ac Alton 5s T3
M-S
1st g 5s 1951
08V 0014
A-G 1 47
Jin Ham At D 43 1913.J j
97'* international Si ver
97V
10i
50
$11,100 U C C & St L 58, June 11
100
Preierred
LOOV
lot
n>7
31.200
tudsou Companies—
1st 6s 1948
110
J-i,
50,400
6s Oct 15 foil
A-0
97V 99
internatSmelt As Refg 10t
130
6s Feb 1 1913
39,000
F-A
97l2 00
nternai Tim- Keco-d.10.
190
86,5001 tuterb R Tg 6s 1911.M-N lJIV lu2
Preferred
1
u
112
55.200 v C RyAsLlgbt 6s 12.M-U
98 >4 99
Jonee. At Laughlln Steel C<
Jinn A St L g 5s '11.F-A
1st s f g 5s 1039..M-N
98'g 99 C,
101V
$273.400
NYC Lines Eq 5s 10 22 54 .Ju 4.3 1
.Lackawanna Steel
lOi
41
4 H- Jan 1911-1925
5L6j
AAo
1st con 5s 1050...M-.
85
N Y N H Ae H 5s '10-12 100
Ul
Deb
1915......M-r
9l
St L Ac S
Aifcj |Pub
20
U»31|
...
*
Outside Securities
All bond prices
150
85
85
24
70
15
65
100
I
Listed
Philadelphia.
436
e
Short-term Notes
Boston.
Week ending
Oct. 28 191ft.
2»S
4
duPont(EI)de2iemPj 10.i
e
87
03
20
6 >
97
101
05
30
65
26
95
Ferry stock..100
1st S3 1920
i3ia
79
Davti-Daiy
Diamond
Ferry Companies
B As N Y 1st 6s
1911.J-J
NY & E It Ferry stk.100
1st 5s 1922
M-N
A YAeHob 5s
May '46.J-D
Hob Py 1st 5s 1946 M-N
N Y As NJ 5s 1946
J-J
10th As 23d Sts Ferry. 100
1st mtge 5" 1919
J-l»
Ask
Crucible Steal
e Preferred
ll3l2
65
40
100
106
60
93
90
Facile As Atlantic.-.. 25
ePac Teiep A T-leg pf .100
Southern & Atlantic— 25
Jan. 1 to Oct. 28.
3,659.8781
6,074,4321
143.965.495
177,956,409
$387,960,300 $479,012,700 $12,842,164,550 $16,311,129,325
$6,900
$3,300
$915,500
$157,650
Government bonds
t
State bonds
HR. and mlso. bonds..
Araer Teleg & Cable. 100
Central As So Amer._100
Jomm'l UnTel (N Y>_ 25
Emp As Hay State Tel .100
Franklin
too
? Gold As Stock
Tele::. 100
Northwestern Teleg. 50
ending Oct. 23.
1910.
$10,000
e
LXXXXI.
In du stria
Ask
Telegraph and Telephone
e
27,000
124,000
2.326,000
1,375.000
3.655L878,960.3Q0l $12,376,000
New York Stock
V. S.
Bonds.
$51,500
62,000
45.500
2.626,000!
69.611,500
Bit!
Chic Edison Co—See Cht cago
list
Gr’t West Pow 5s '46.J-J
83
87
e Kings Co &
L&P Co too U2
126
Narragan (Prov) El Co .50 * 85l2 *8
N Y AsQ Ei L AsPovv Co 100
<0
50
Preferred
73
78
.100
United Elec of N J...10U
85
80
1st g 4s 1949
J-i)
'/0I2 7/V
Western Power com. 100
41*2 41
Preferred
.100
08
69V
DAILY, WEEKLY AND YEARLY
Week ending
Oct. 28 1910.
(VOL.
Aoj
185
*8)4
4
45
30
63
88
612
list
list
list
io5
140
8i>
8
55
60
y»i2 100
51
104
102
*47
*50
61
100
6V4
10
215
60
112
95
106
loo
95
53
108
i05
52
62l|
63
108
654
20
....
114
100
111
105
100
114ig
lilts 116 i
86
Exo
105
list
Westchester At Bronx Tit
At Mtge Guar
100 180
170
Westlngh'se Air Brake.50 *...* 143H
West El At Mfg 6a—SeeStk Exc 1st
Worthing Pump pref.lOo 107
Sale price.
-wCivHfa.
j
THE CHRONICLE
Oct. Z9 1910.]
1151
Investment and Railroad Intelligence.
rlAiLKOAD
GHOSS
EARNI1NGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
be obtained.
The first two columns of figures give the gross earnings for the latest week or month, and the last two
oolumns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
can
period
The returns of the electric railways are brought together separately on a subsequent page.
July 1 to Latest Date.
Latest Gross Earnings.
Week or
ROADS
Month.
Ala N O & Tex Pa<
N O & Nor East.
Ala & Vlcksburtr.
Vicks Shrcv & P.
Ala Tenn & North..
Atch Topeka & b t.
Atlanta Birm & At
Atlantic Coast Lint
q
285,035
September
151,873
September
126,558
September
8,590
August
Sep cam her 9,068,41J
id wl; Oc.
August
—
Baltimore db Ohio September
B & O C'h Ter Hi
.vugust
...
-
Bangor & Aroostool
eptember
Bellefonte Central— September
Boston & Maine... August ...
Bridgeton db Saco R August
Butt rtocn & Pittsu.
>u
Buffalo & Susq
Canadian Northern,
Canadian Pacific...
Central of Georgia..
Central of New Jer.
Central Vermont
Chattanooga South,
Ches & Ohio Lines,
August
wk
Previous
Year.
Current
Year.
—
Oc.
...
id wk Oc»
id wk Oc.
id wk Oc.
August
August
itn wkSepi
id wk Oct
Chicago db Alton... id wk Oct
Chlo Burl db Quincy August
pChic Great West. rd wk Oci
Chic Ind & Loulsv. 2d wk Oct
Chic Ind & Southern —See New
Chlo MU & St Paul. August
Ch Mil ds Pug Sd. August
Chic ds North west. September
Chic St P M ds Om. September
Cln Ham ds Dayton September
Clev Cln Chic & St L —See New
Colorado Midland.. August
Colorado ds South. 3d wk Oct
Copper Range
July
Cornwall
.September
Cornwall ds Leban.. August
Cuba Railroad
August
Delaware db Hudson August
Del Lack & West-. August ...
Denv ds Rio Grandt 3d wk Oct
Denver N W ds Pac. 2d wk Oct
Det Tol ds Iront Sys 2d wk Oct
Ann Arbor
3d wk Oct
.
Current
Year.
286,110
137,961
863,621
789,966
390,237
125,364
384,413
342,012
6,466
15,479
11,261
,732,776 26,159,331 25,434,887
54,7 *i
53,611
756,78(
702,457
2,069,750 1,794,563 4,217,814 3,657,603
7,933,581
8,417,835
24,515,627 22,677,892
135,54 V,
yo.aoi.
271,53,
190,506
283.0U
249,331
726,40(
694,467
8,364
5,801
22,278
14,375
4.202,366 3,952,534 7,953.596 7,674,901
5,068
6,048
11,272
10,963
218,361.
186,54. 3,123,82V 2,990,954
201,70',
224,788
391,432
426,793
403,900
328,106 4,669,600 3,654,300
2,302,000 2,147,006 34,118,540 29,175,015
281.00(
285,90(
3,902,151 3,643,235
2.493,099 2.297,931 4,810,607 4,493,941
349,487
341,790
668,774
623,816
2,445
2,086
23,980
20,307
639,272
641,596 10,391,235 9.631,057
354.351
313.085
4,888,007 4*538,364
8.366.838 7,900.803 15,454,409 14.726,611
298,266 3,784,78,
335,44»
3,407,172
123,206
122,101 1,946,340 1,780,674
■
York Cen tral.
5,998.307 5.559,001 11,339.843 10,769,459
698.683 2,312,724
1,170.652
S.304,63., 7.237,34b 2U.372.04. 19,738,374
1,621,007 1.423.223 4,325,777 3,767,217
872,257
875,257 2,579.002 2,450,626
York Cen tral.
192,118
200,862
358,207
392,190
361.850 5,414,620
369.193
5,107,940
70,733
77,920
70,733
77,920
14,633
13.964
48,21b
42,624
35.965
36.470
72,848
75,581
163,209
206,870
440,310
325,638
1,893.663 1,662,778 3,500,674 3.248.915
3,081.996 2,887.197 6,089,933 6,055,424
511,806
531,300 8,023,447
7,666,990
21,316
19,221
399,29t
361.812
45.964
35.470
625,220
476,352
49,676
47,247
633,902
587,051
22.965
26.127
363,137
367,172
1,395,856
1.260,381
2,750,162
2,455,435
August —
63,516
74,511 1,162,257
1,136,635
3d wk Oct
602,064
582.850 1,187,023 1,189,084
August —
(5,328,526 4,559,734 10,003,780 8,839,283
August
1,839
3.624
2.118
4,199
August
84.185
277,334
79,507
250,468
September
226.927
429,274
240,673
August
459,215
—See Sout hem Rail way.
3d wk Oct
963.374
904,674 13,979,996 14,041.908
2d wk Oct
120,246
124,465 1.667,511 1,816.688
Ed wk Oct
43,190
38,990
579.528
543,959
2d wk Oct
41,667
41,093
544.659
613,317
—
_
...
—
getrolt
ul ds Iron
ds Mackinac
Range.. 2d wk Oct
Dul Sou Sh ds Atl__
El Paso ds Sou West
Erie
Fairchild ds Nor E.
Fonda Johns ds Glov
Georgia Railroad ..
Georgia South ds Fla
Grand Trunk Syst.
Grand Trk west.
Det Gr Hav ds Mil
Canada Atlantic.
Great Northern Syst September
Gulf db Ship Island. August
6,208.078 6,816,338 17,876,108 17,689,189
157.928
163,634
313.859
315,361
673.148 1.415,650 1,231,419
755,458
Hocking Valley.... August
Illinois Central.... September 5,140.738 4,791,579 15,076,856 13,992,468
189,006 2,922,33* 2,587,983
200,006
Internal ds Gt Nor. ju wk oct
191,066
200,239 2,596,237 2,449,149
a Interoceanlc Mex. 3d wk Oct
3d wk Oct
93.799 1,088,492 1,088,415
76,651
Iowa Central
311.725
238,213
452,207
577,921
Kanawha ds Mich— August
876,58a
734,165 2,576,330 2,156,773
Kansas City South. September
1st
wk
Oct
35.000
45,000
K C Mex ds Orient..
,010,765 2,887.565 9,024)981 8,568~324
September
Lehigh Valley.
46,353
41,492
87.338
77,344
Lexington ds East-. August ...
2nc.59, 725
Inc.170, 403
August
T^ng Island
113,377
106,091
113,377
106,091
Louisiana ds Arkan. July
186.405
105,211
102,499
201,496
Loulsv Hend ds St L August
wk
Oct
3d
1,135.885
1,066,625
15,398,897
16,574,002
s Loulsv ds Nashv.
12,477
12,833
35,558
35,774
September
Macon db Blrm’ham
847.768 1,619,133 1,641,604
859.421
August
Maine Central
3,408
3,547
6,691
6.740
Manlstlque
August ...
37,376
42,822
69,069
76,837
Maryland ds Penna. August
142,200
122,600
2,322,300 2,091,200
a Mexican Railway. 1st wk Oct
183,875
103,136
555,756
288,346
a Mexico Nor West. September
York
Cen
tral.
—See New
Michigan Central
15,878
240.726
16,168
273,548
Mineral Range..... 3d wk Oct
135,878
164,464 1,818,382 1,709,704
Mlnneap ds St Louis 3d wk Oct
508.929
558.683 7,631.366 8.029,471
Minn St P ds S S Ml 3d wk Oct
Chicago Division!
66.251
151,164
75,451
123,816
Mississippi Central. August ...
2,297,490 2,179,360 4,437,970 4,093,223
u Mo Kan ds Texas. August ..
...
_
...
Mo Pc.o ds iron Mt)
Central Branch.] 3d wk
Nashv Chatt db St L August
Oct 1,212,000 1,162,000 17,181,694 16,579,123
...
953,549
936,019
1,883,213
ROADS.
Week or
Month.
Year.
436,233
1.847,003
oNatRysof Mex.l. 3d wk Oct 1,295,75b 1,133,167 19,414,99b 16,663,308
9,385
12,837
131,657
172.040
Nevada-Cal-Oregon 2d wk Oct
6,867
18,110
18.449
6,046
September
Nevada Central
101,363
206.813
293,474
145,660
N O Great Northern August
35,555
487,998
34,527
418,965
N O Mobile ds Chic. Wk Oct 15
857,337 1,912,87 2 1.718,423
971.416
N T Ont db Western August ...
July 1 to Latest Dots.
Latest Gross Earnings.
Previous
N Y N H db Harft.
N Y C db Hud RIv
Previous
Year.
Current
Year.
Current
Year.
Previous
Year.
5,539,943 5,127,834 10,809,576 10,197,988*
9,126,107 B,359,672 17,454,586 16,314,867
4,670,234 4.278,627 -8,700,126 8,216,976974,811
888,112
548,433
497,435
263,335
509,841
537,040
8,089 *£,281,240 4,694,750
Michigan Central. August.
|2»769,35b
Cl eve C C & St L. August
1,821,754 2,620,032 5,197,835 4,917,737
Peoria & Eastern Vugust
611,276
531,048
342,662
291,254
Cincinnati North. August
237,981
207,169
i J36,22£ 1118,838
Pitts ds Lake Erie August
2,919,325
,469,846
3,132,837
,604,261
Rutland
581,131
626,752
August
333,41k ,-300,624
N Y Chic db St L_ August
958,360
876,323 n .847,330 1,710,130
Toledo db Ohio C_ August
410,483
968.815
751,298
505,840
Tot all lines above August
24074992 81920034 15,543,’433 M2,269,583
N Y Susq ds West
485,742
August
.1 -309,716
241,233
604,520
Norfolk Southern
464,125
423,898
August
233,198
207,430
Norfolk db Western. August
1,155,833 393,006 6,070.198 5,474,307}
Northern Central.. August
1,126,836 •048,836 2,098,651 t 2,024.151
Northern Pacific
1,257,749 15,010,977 12,505,085 13,608,955
August
Pacific Coast Co
August
768,781
822,785 1,584385 1,557,369
Pennsylvania Co
MO, 115,090 9,104,480
August
p,337,536 J
d Penn—E of P db E August
1447(^399 544 999 *7,756,564 26,460,764
d West of P db E_ August
Inc. 1,68 6,800
Inc.1,06 1,400
Pere Marquette
,438,695 1,472,408 4,262.848 4,040,438
September
Phi la Balt db Wash. August
,800,3274,510,927 » 3,514,205 8,028,805 <
Pitts Cln Ch ds St L. September
8,976,118 8,126,621 ■
I.168J548 3.914,63
10,86t
36.81C
Raleigh dsSouthport ^September
12,538
34,270
Reading Company
Phila db Reacting. iSeptember 1330,162
10,280,763
Coal db Iron Co..September 2,286,628 ,037395 5,676397 5,415,154
Total both oos
September 5,116,731fc,715.796 1 6,575,172 r15,695,918
Rich Fred db Potom August
180.484
352306
373,937
337,633
Rio Grande June
85,520
July
89,736
85,520
89,736
xilo Grande South.. 2d wk Oct
11,620
5,40t
186,907
129,734
Rock Island Lines. August
6,099380 5,977,132 l 1,410,219 11,393,734
St Jos db Grand Isl. August
165.591
154,407
296.4951
306,813
St Louis db SanFran August
3,641349 3,607,765 4,985,212 6.862,670!
Chic ds East HI.. August
1423,749
970380 2,033,743 1,823,210:
/ Evansv db Ter H August
272.192
233,582
497,236
424,836
Total of aU lines. August
5,037,491 3.811,428 9,516,192 9,110,717i
St L Rky Mt db Pac. June
180,967
144,952 1,974,244 1.439,046
St Louis Southwest- 3d wk Oct
272,737
258,82/ 3.699,955 3,392,786 i
San Ped L A db S L.fAugust
636,495
714,207 1,263,315 1,463,291
e
August*
August
Lake Shore ds M S August
n Lake E db West August
Chic Ind ds South August
|08,811
...
...
__
_.
8,677,901 10,888,775
..
_
...
...
..
...
Seaboard Air Line.)
j
Atlanta <& Birm. ifc2d wk Oct
399,475 5,426,318 5,117,093
414,503
Florida W Shore)
Southern Indiana.. August
121,287
319,396
169,637
Southern Pacific Co August
11746658 11310745 22,963,930 2,125,315
SoutnernRailway..t3d wk Oct 1357,688 1320,190 M.559.141* 7,558,457 •
Mobile db Ohio
3d wk Oct
214,867
202,429 3,200,758 3,079,506
Cln N O ds Tex P. 3d wk Oct
177,439
170.575 2,926,616 2,608,511-i
Ala Great South. 3d wk Oct
87.127
79,470 1,364,786 1,140,991 i
Georgia So db Fla. 2d wk Oct
48.142
47,761
67A.658
623.735!
Texas db Pacific
3d wk Oot
383,172
366,852 4,863,141 4,518,189
Tidewater db West. September
7,242
6,748
21,622
19,789 .
Toledo Peor ds West 3d wk Oot
25,936
22,162
408,625
362,168
Toledo St L ds West 3d wk Oct
83,584
89,061* 1,215,323 1,209,616
Tom blgbee Valley
6.893
August
6,217
14,298
12,621 i
Union Pacific Syst. August
8,479)474 7.948)614 50,396)129 15,483,468
Vandalla
August ...tl,002,315
806,665 1,822,654 1,527,581 :
Virginia ds Sou West August
100,518
111.438
202,887
202,633 i
Wabash
3d wk Oct
651,123
616,371 9,772,321 9,285.472i
Western Maryland. August ...
702.582
577.598 1.337.698 1.122,655
W Jersey db Seash.. August
920,950
920,450 1,767,931 1,583.081 i
Wheeling db Lake E August
697,170
615,263 1,327,966 1,205,828
225,5951
..
..
...
...
—
...
Wrlghtsvllle db Tenn September
Yazoo db Miss Vail. September
32,710
769,352
Vari&us Fiscal Years,
37.2701
70,920
2,160.894
763,143
Current
Year.
Period.
Bellefonte Central
Ian
Delaware ds Hudson
Manlstlque
;
a Mexican Railway
a Mexico North western
e N Y Central db Hudson River.
Lake Shore db Michigan South
» Lake Erie db Western
...
.....
Chicago Indiana db Southern.
Michigan Central.
Cleve Cln Chicago db St Louis
to
to
to
to
to
to
to
to
to
to
to
to
Peoria db Eastern
Cincinnati Northern
to
Pittsburgh db Lake Erie.....
Rutland
New York Chicago db St Louis
Toledo db Ohio Central.
Total all lines
Northern Central
d Penn—East of Pittsb db Erie.
d West of Pittsb db Erie
Ian
Phlta Baltimore db Washington. &an
Pittsb Cln Chicago db St Louis.. Jan
Rio Grande Junction
Deo
Texas db Pacific
Jan
West Jersey db Seashore
rjan
...
...
......
to
to
to
to
to
to
to
to
to
to
to
to
to
72,660
2,150.042
1
Previous
Year.
Sept 30
361,553
843.627j
Aug 31 13,135,927 12,546,282
Aug
28,417
28,005i
Oct
6,501,300 5,812,1001
Sept
1,624,647
906,095i
Aug 31 14,425,384 158,888,686]
Aug 31 12.413,254 28,462,084
Aug
3,545.692 3,055,458
Aug
2,435.599 1,963,723
Aug 31M9.268.644 17,285,119
Aug 31 19.379,102 17,425.759
2,203,037 1,867,400,
Aug
Aug
827,947
731,799;
Aug 31111,416.456 8,701.967
31
Aug “'*2.103,096 1,951,187!
Aug 31 7.296,853 6,381,603:
Aug 31 3,134,502 2,380,834
‘
Aug
Cur’nl Year Prev’s Year Inc.
or
Dec.
%
—
2d
3d
4th
1st
2d
3d
4th
week
week
week
week
week
week
week
1st week
2d week
3d week
Aug
Aug
(43 roads).
(42 roads).
Aug
(39 roads).
Sept
Sept
Sept
Sept
(41 roads).
(39 roads).
(40 roads).
Oct
Oot
Oct
(46 roads).
(42 roads).
(42 roads).
(32 roads).
5
13,330,857
13.462.769
19.342,788
13,436,925
13.898,196
14.164,775
19,035,149
14.309,649
14.838,200
14.040,996
3
12,132.599
12,283,880
16,765,742
12.381.354
13,014.025
13.566.355
18,221,030
14,023,816
14,158,835
13,473,178
4-1.198.258 9.87
4-1.178.889 9-60
4-2,577.046 15.37
+ 1,055,571 8.52
+884,171
+ 598,420
+ 814,119
+ 375,833
■(•679,365
+567,818
6.80
4.41
4.47
2.68
4.80
4.21
Monthly Summaries.
*
31
168449566 149095566
,
-
Oot
21 12.293.817
11,136,357;
Aug 31*4,367,883 3,981,483
■■■
.
Inc.
or
Dec.
%
i
...»
Mileage Curr.Yr. Prev.Yr.,
$
%
5
December ..237,189
231,699 222,006.184 305,455,121 +16.551,063 08.05
January —-236,758 231,362 210,302,219 182.649,825 +27.652,394 15.141
February ..236,852 231,652 202,258,490 174,159,723 +28,098,767 16.1§»
March
235,925 230,841 ^37.533.005 504,910)997 +32)616 008 15.95
237,569 232,463 225.225,596 196,595,911 +28.629,685 14.50
April
May
237.560 232,494 234,310,642 501,069,381 +33,241,261 16.5!
June
238,108 232,054 237,036,159 509,270,687 4*27,765,272 13JSt
July
221,164 217,466 217,202,265 505,879*959 +11,322,306 5.50
August
234.805 230.925 251,505,986 523,666,645 +17,839,341 7.65
62,163 67,702.377*65,214,479 +2,487.895 3.81
September.. 84,994
a Mexican currency,
d Covers lines directly operated, e Includes the New York & Ottawa, the St. Lawrence db Adirondack and the Ottawa 4!
N. Y. Ry.. the latter of which, being a Canadian road, does not make returns to the Inter-State Commerce Commission. • f Includes Evansville 4
Indiana RR.
p Includes earnings o( MiUonOUfj
g Inoludes the Cleveland Lorain db Wheeling Ry. In both years,
n Includes the Northern Ohio RR.
db Ft. Dodge and Wlso Minn* db Padflo.
s Includes Louisville db Atlautie from July 1 1909 and the Frankfort db Cincinnati from Nov- 1 1909.
t InVl
• j
eludes the Mexican International from July 1910. u Indudes the Texas Central in 1910.
,
Aug 31 8.289,045 7.735,145
Aug 31 108180 513 196,603,813
Aug 311
Inc.ll, 966,600
Aug 31 12,596,616 11,494,010!
30
25,767,809
21.716.721V;
Sept
July 31
645,553
583,4091
Turrent Yr. PreviousY
|
.
1
AGGREGATES OF GROSS EARNINGS—Weekly and Monthly.
Weekly Summaries.
*
.
j
-r-
*
TIIE CHRONICLE
[VoL.
Latest Gross Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the third week
•of October.
The table
32 roads and shows
covers
Third Week of October,
1910.
Alabama Great Southern
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific.
Central of Georgia
Chesapeake & Ohio Lines
Chicago & Alton
•-
Cine New Orl & Texas Pacific.
Colorado & Southern
_
Denver & Rio Grande..
Detroit Toledo & Ironton—
Ann Arbor
Duluth South Shore & Atlantic.
Grand Trunk of Canada
l
Grand Trunk Western
1
Det Grand Haven & MUw. I
Canada Atlantic
J
International A Great Northern
Interoceanic of Mexico
Iowa Central
Louisville & Nashville
Mineral Range.
1909.
79,470
186,547
328,100
2,147,000
285,900
641,596
354,351
170,575
361,850
531,300
7,657
31,822
75,800
155,000
49,670
63.516
47,247
74,511
2,423
963,374
904,674
58,700
200,000
191,060
76,658
1,135,885
15,878
135,878
189,000
200,239
93,799
1,066,625
16,168
164,464
558,683
11,000
$
$
4,900
2,324
41,268
6,864
7,345
19,500
10,995
_
.....
Minneapolis & St Louis
Minneap St Paul A S S M
Chicago Division
1
$08,929
National Railways of Mexico.
St Louis Southwestern.
.
Southern Railway—
Texas A Pacific
Toledo peorla 6s Western.
Toledo St Louis & Western
1,212,000
214,867
1,295,756
Total (32 roads).
Net Increase (4.21^»),
50.000
12,438
162,589
13,910
37,408
83,584
651,12$
615,371
34,752
14,040,896 13,473,178
757,152
567.718
272,737
For the second week of October
same
28,586
49,754
1,162,000
202,429
1,133,167
258,827
1,220,190
366,852
22,162
89,081
1,257,688
383,172
25,936
Wabash.
the
"290
J
Missouri Pacific
Mobile & Ohio
42 roads and shows
9,179
17,141
69,260
our
Gross I imings
Current
Previous
Year.
Year.
Companies.
$
Subsidiary Cos
Aug 1,344,747
Jan 1 to Aug 31
10,839,905
Bangor 8s Aroostook
Sept
97,453
July 1 to Sept 30
284,757
Cumberl’d Tel A Tel.b.Sept
575,272
Jan 1 to Sept 30
5,078,693
0 Mexican Lt 8s Pow Co.Sept
756,241
Jan 1 to Sept 30
5,148,324
Pittsburgh Coal Co—
Jem 1 to Sept 30
Reading Company
Sept
885,000
July 1 to Sept 30
2,655,000
Wells Fargo 8s Co.b
July 1,012,756
$
268,388
2,299,484
241,863
215,342
255,500
2,198,804
565,471
3,613,103
227,588
264.108
233.832
2,038,625
380,262
1,783,470
over
week last year.
3,356,414
605,849
899,971
2,690,913
1,161,990
1,215,049
131,502
2,187,306
731,678
1,367,577
262,357
—Int., Rentalst, Ac.— —Bal. oj Net E’ngs.—
F *revious
Current
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
176,663
164,857
2245,435
2185,690
530,994
493,939
2669,560
2576,076
Buffalo Roch 6c Plttsb-.Sept
July 1 to Sept 30
Chicago Great Western.Sept
July 1 to Sept 30
covers
533,329
4,757,630
512,172
4,433,780
Charges and Surplus.
Roads.
5,497
189,434
84,577
249,460
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
d In Sept. 1910 net from outside operations was $6,654, against $5,801 last
year, and from July 1 to Sept. 30 was $21,015 this year, against $20,196.
g These results are In Mexican currency.
) The company now Includes the earnings of the Atch. Top. A Santa Fe
Ry., Gulf Colo. 8s Santa Fe Ry., Eastern Ry. of New Mexico System,
Santa Fe Prescott 6s Phoenix Ry., Southern Kansas
Ry. of Texas, Texas
8e Gulf Ry., G. & I. Ry. of T. and C. S. S. & L. V. RR. In both
years.
For Sept, taxes amounted to $301,564, against $306,421 In 1909: after de¬
ducting which, net for Sept. 1910 was $3,153,211, against $2,980,398 last
year.
For period from July 1 to Sept. 30 taxes were $942,352 In 1910,
against $862,334 in 1909.
£ Includes $109 other Income in Sept. 1910,
against $91 In 1909, and from
July 1 to Sept. 30 Includes $249 in 1919, against $236 last year.
16,320
3,774
4.80% increase in the aggregate
$
a
Interest
final statement
Net EaThings
Current
Previous
Year
Year.
Atlantic Gulf 8s West Indies SS Lines—
Increase. Decrease.
$
87,127
218,369
403,900
2,302,000
281,000
639,272
313,083
177,439
369,195
511,800
INDUSTRIAL COMPANIES.
4.21%
increase in the aggregate over the same week last year.
LXXXXi.
Colorado 6s Sou thorn
July 1 to Sept 30
Sept
Nevada-Cal-Oregon
July 1 to Sept 30
Sept
205,894
601,495
268,368
794,689
3,749
7,377
207,237
783,532
255,012
761,822
3,594
7,172
2116,543
2319,561
2321.401
2697,636
217,572
229,363
2105,751
210,512
2312,884
2854,147
222,483
245,533
INDUSTRIAL COMPANIES
Second week of October.
1910.
1909.
Increase.
$
$
Previously reported (34 roads). 13,785,465 13,170,599
Atlanta Birmingham 6s Atlantic
54,776
53,615
Chicago Great Western
335,445
298,266
Chicago Ind 6s Louisville
123,206
122,101
Denver Northw 6c Pacific
21,310
19,221
Detroit Toledo & Ironton
45,964
35,470
Georgia Southern & Florida
48,142
47,751
Nevada-Californla-Oregon
9,389
12,337
Seaboard Air Line..
414,503
399,475
Total (42 roads)
Net Increase (4.80%)
14,838,200 14,158,835
m
Net
$
-Int., Rentals, Ac.—
Decrease.
5
759,007
1,161
37,179
1,105
2,089
10,494
144,141
391
15", 028
826,454
679,365
2,948
147,089
Subsidiary Cos.
Aug
163,057
Jan 1 to Aug 31
1,331,395
Cumberland Tel 8s Tel_.Sept
49,038
Jan 1 to Sept 30
434,975
Pittsburgh Coal Co—
Jan 1 to Sept 30
2,022,852
ELECTRIC
Roads.
Year.
*
Atch Top 6c Santa Fe.b.Sept 9,6 68,441
July 1 to Sept 30.
26,159,339
Bangor 4s Aroostook
Sept
283,016
July 1 to Sept 30
726,400
Buffalo Roch 6s Pitts.b.Sept
832,575
July 1 to Sept 30.
2,480,254
Canadian Northern
Sept 1,279,900
3,598.000
July 1 to Sept 30
Central of Georgla.a
Sept 1,059,807
July 1 to Sept 30
3,051,651
Chicago Great West.b--Sept 1,127,720
3,179,914
July 1 to Sept 30
ChksStPM &0.b
Sept 1,621,077
July 1 to Sept 30______ 4,32 5,777
Colorado & Southern.b.Sept 1,537,102
July 1 to Sept 30
4,363,998
Cornwall b
Sept
13,964
;
48,218
July 1 to Sept 30
Detroit 6c Macklnac.a--Sept
105,777
July 1 to Sept 30
319,392
Fonda Johns 6c Glov.a.Sept
84,185
July 1 to Sept 30
277,334
Kansas City South’n.b.Sept
876,588
July 1 to Sept 30
2,576,335
Lehigh Valley.b
Sept 3,010,765
9,024,981
July 1 to Sept 30
g Mexico North West.a.Sept
183,875
Jan 1 to Sept 30
1,624,647
Nevada-Cal-Oregon b
Aug
41,349
x
July 1 to Aug 31
73,729
Pitta Cln Chic & St L.a.Sept 3.168,548
Jan 1 toSept 30
35.767,809
Reading Company—
Phlla 6s Reading.b
Sept 3,830,102
July 1 to Sept 30
10,8 88,775
Coal 8s Iron Co.b
Sept 2 ,286,628
July 1 to Sept 30___
5,676,397
Total both cos.b
Sept 6,116,730
July 1 to Sept 30
16,575,172
6
-
Reading Company...Sept
July 1 to Sept 30—
Total all cos
Sept
July 1 to Sept 30
Southern Railway.b
Sept 5.029,012
July 1 to Sept 30
14,843,121
Mobile A Ohlo.b
Sept
877,390
July 1 to Sept 30
2,633,801
Tidewater 6s Western .b.Sept
7,242
July 1 to Sept 30
21,622
Wichita Falls 8s N W.b.Aug
60,490
:■.‘•July 1 to Aug 81--..
117,967
Wrlghtsvllle 8s Tennllle.Sept
£32,710
July 1 to Sept 30
£70,920
...
Net EamingsCurrent
Previous
Year.
Year.
Year.
„
5
9
5
8,732,776 J3,454,775 *3,286,810
25,434,887 W,736,186 ^9,747,485
249,032
120,823
99.014
694.467
244,975
276,335
816,520
357,157
325,953
2,431,313
981,836
995,274
1,076,800
381,200
311.500
2,727;400
992,400
745.500
1,064,952
4282,590
4365,309
2,805,635
4747,143
4749,036
980,127
315,345
308,230
2,859,294
898,516
783,689
1,423,223
662,194
541,069
3,767,217
1,536,496
1,267,912
1,403,600
577,350
541,830
4,055,467
1,459,804
1,520,726
14,633
6,450
7,476
42,624
22,933
21,165
107,850
34,555
34,076
316,451
102,893
87,338
79,507
45,323
42,332
250.468
158,423
143,744
734,165
338,980
249.099
2,156,773
959,108
695.784
2,887,555
1,132,535 1,085,762
8,568,324
3,251,748
3,290,145
103,136
100,502
44,541
906,095
908.483
291,332
44,722
21,096
25,159
88,550
36,138
50,938
2,914,635
890,948
984,280
21,716,721
5,443,009
5,519,985
.
3,677,901
1,381,018
1,652.451
10,280,763
3,773,696 3,851,090
2,037,895 def39,144 def70,971
4,415,154 def394,804 def227,137
5;715,796
1,341,874
1,481,530
15.695,918
3,378,892
3.624,004
148,975
150,119
438.098
443,486
1,490,849
1,631,649
3,816,990 4,667,490
4,839,095
1,698,866
1,676,741
"" 4,748.596 4,607,541
13,840,328
254,962
838,814
272,569
2,444,237
733.516
767,452
6,748
1,548
1.095
19,789
3.542
3,400
30,101
34,886
13,678
70,501
57,118
43,866
£37,270
16,562
22,011
£72,626
25,846
27,643
.
RAILWAY
Bal. of Net Earns.
Current
Year.
$
Previous
Year.
105.331
43,484
968.089
206,462
382.420
1,763.820
190,348
1,656,205
1,955,706
1,333,562
231,600
AND TRACTION
Latest Gross Earnings.
Name of
Road.
lowing shows the gross and net earnings of STEAM railroads
and of industrial C3mpanies reported this week:
-Gross Earnings
Current
Previous
Previous
Year.
Atlantic Gulf 8s West Indies SS Lines—
Earnings Monthly to Latest Oates.—The table fol¬
'
Current
Year.
Companies.
Week
or
Month.
American Rys Co
cAug Elgin 4s Chic Ry
Bangor Ry 8s Elec Co
Baton Rouge Elec Co
September
Cape Breton Elec Co.
Carolina Pow 8s Lt Co
Central Penn Trac—
Chattanooga Ry 8s Lt
August
August
August
August
Binghamton St Ry.. July
Blrm’ham Ry Lt 8s P July
Brockt’n 8s Ply St Ry August
—
...
Current
Year.
Previous
Year.
$
$
323.566
163.698
57,593
8,681
34,910
183,187
17,912
26,669
17,545
62,979
67,806
350.519
178,730
58.065
9,155
37,330
216,505
...
September
September
16.057
30,777
17,402
68,199
September
77,022
Chicago Railways Co. August
1224,175 1088,209
Cleve Palnesv 8s East August
40,275
36.389
Dallas Electric Corp. August
118,257 112,802
2a wk Oct
Detroit United Ry171,144 154,326
Ouluth-Superior TrCo September
93,57r
87,217
East St Louis 8s Sub. September
211,249 176,402
id Faso Electric—
August
46,ao.
46,44;
Falrm & Clarks Tr Co September
62,032
47,695
Ft Wayne A Wabash
Valley Traction Co August
140,625 133,412
Galv-Hous Elect Co. August
124,764 111,295
Grand Rapids Ry Co. August
111,814
09,838
Havana Electric Ry. Wk Oct 23
36,810
38,229
Honolulu Rapid Tran
8s Land Co
June
37.8
34,689
Houghton Co Trac Co August
29,701;
32,025
Illinois Traction Co. August
523.558 462,266
i icksonvllle Elect Co August
4 7,0^
38,782
Kans City Ry 8s Lt Co September
628,685 584,287
Lake Shore Elec Ry. August
139,896 130,993
Mtlw El Ry 8s Lt Co. September
401,958 369,446
Milw Lt Ht & Tr Co. September
108.901
09,820
Montreal Street Ry_. August
398.828 355,230
NashvUle Ry & Light September
163,307 155.899
New Orleans Ry & Lt August
487,436 470,530
North Ohio Trac & Lt September
224.901 202.156
North Texas Elec Co. August
119,813 109,422
Northwest Elec Co_. September
179,710 169.156
Norf 8s Portsm Tr Co August
188,834 174,211
Paducah Tr 8s tL Co. August
20,780
19.930
Pensacola Electric Co August
24,177
22,205
Port(Ore)Ry,L6sP Co September
490,209 420,777
Puget Sound Elec Co August
173,989 194,383
Rio de Janeiro Tram
Light 8c Power Co September
982,762 642.731
St Joseph (Mo) Ry Lt
Heat 8s Power Co
September
92,034
88,28?
Sao Paulo Tr Lt & P.. September
260.829 200,496
Savannah Electric Co August
56,870
53.931
Seattle Electric Oo._ August
479,573 610,816
Sou Wiseonsta Ry Co Septe uber
14,701
13,472
Tampa Electric Co.. August
50,346
48,468
Toledo Rys 8c Light. August
238,733 235,644
Toronto uailway Co. September
428,680 379,981
Twin City Rap Tran. 2d wk Oct
143,389 129,363
Underground El Ry
of London—
Three tube lines
Wk Oct 22 £13,270 £12,835
Metropolitan Dist
Wk Oct *22 £11.156 £10,378
United Tramways. Wk Oct 22
£5,987
£5,811
UnlonRy,G8sECo(lll) August
232.494 219,083
United RRs of San Fr July
618,635 621,753
Whatcom Co Ry A Lt August
32,470
36,841
—
—
-
-
.
...
...
COMPANIES.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
2.939,780
2.715.092
1,099,888
1,009,265
343,166
62,500
367,377
70,046
1,496,110
82,155
188.228
154,349
623,109
650,947
8,859,519
235.734
917,809
7,372,143
810,72
1.756,761
405,488
445,992
998,040
855,991
755.642
1,739,197
221,557
210,740
3,874,962
377.419
5,496,114
798,655
3,456,776
806,079
2,863,033
1,341,847
4,135,528
1,837,406
1,276,482
01,070
162,014
141,318
564,747
574,785
8,049,667
210,844
823,781
6,269,742
723,602
1,481,078
376,374
346.441
005.614
793.768
678,396
1,624,115
197,684
213.693
3,415,017
312,212
5,054,811
V26.855
3,116,885
708,129
2,557.704
1,266,683
3.978,930
1,634,172
805,290
923,376
1,640,044
1,523,423
176,200
4,106,489
1,284,729
162,401
3,547.647
1,230,931
7.364,602
5,607,495
766,750
2,150,573
416,585
722,808
1,776,271
402,295
133,991
414.236
120,410
389.146
1,763.698
...
_
_
_
...
...
_
...
c
These figures
are
for consolidated company.
1,939,233
3,195,938
5,900,378
2,857,291
£533,570
£449,493
£270,047
1,895,832
4,373.406
£526,745
£411,104
£258,458
265,509
5.435,800
1,792,412
4,190.658
260,85$
THE CHRONICLE
OOT. -9 1910. )
Electric Railway Net Earnings.—The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
onoe a month in these columns, and the latest statement of
this kind will be found in the issue of Sept. 24 1910.
The
Gross Earnings
Current
Previous
$
1,088,209
n367,252
n326,462
8,040,867 «2,657,856 n2,414,899
751,818
306,246
273,967
Aug 1,224,175
Chicago Railways
Jan 1 to Aug 31
8,859,519
Detroit United Ry.b---Sept
846,297
Sejrt.30
Net Earnings
Previous
Current
Year.
Year.
$
$
Year.
Year.
$
Roads.
7,027,978
Duluth-SupTracCo.b-.Sept
93,570
Jan 1 to Sept 30-.--.810,727
Interboro Rap Tr Co.a-Septe2,268,580
July 1 to Sept 30
6,420,366
112,540
Lehigh Valley Trans Co .Sept
Dec 1 to Sept 30872.076
0 Mexico Tramway
Sept
586,102
Jan 1 to Sept 30
4,358,019
MUw Elec Ry A Lt.b-.Sept
401,958
Jan 1 to Sept 30
3,456,776
MllwLt, Ht ATrCo.b.Sept
108,901
Jan 1 to Sept 30806,979
North Ohio Tr & Lt-a--Sept
224,901
Jan 1 to Sept 30
1,837,406
RlodeJanelroTr.L&P.a.Sept
982,762
Jan 1 to Sept 30
7,364,602
St Jos(Mo)Ry,L.H4sP.b.Sept
92,034
Jan 1 to Sept 30-----_
766,750
SaoPauloTram.L AP.a.Sept
260,829
Jan 1 to Sept 30
2,150,573
Toronto Railway
Sept
428,580
Jan 1 to Sept 30
3,105,938
Underground Elec Rys, London—
Metropolitan District.Sept
£54,116
London Electric Ry..Sept
£54,324
London United Tram.Sept
£29,528
-
2,542,553
2,260,8 9
43,346
87,217
723,602
349,912
2,286,235 cl,172,888
6,296,567 3,217,417
63,139
100,340
38,050
293,618
1,276.680
3,306,297
56,819
331,341
225,374
2,014,704
191,039
1,579,713
62,121
414,204
99,166
5,963,431
395,530
299,615
2,220,424
107,590
1,586,413
65,812
454,220
107,044
8 27,548
800,274
445,351
4,059,523
369,446
3,116,885
99,820
706,129
202,156
1,634,172
642.731
5,607,495
508,148
3,581,920
45,702
352,300
88,285
722,808
200,496
1,776,271
379,981
2,857,291
„
£50.554
£53,948
£27,792
746.442
276,556
2,221,803
47,476
229,077
1,561,178
348,278
120,048
1,104,259
201,904
1,407,656
£26,144
£23,854
£8,231
£21,238
£23,128
£7,560
168,792
1,372,555
Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Increase In expenses for Sept. 1910 due to temporary causes—the
nstallatlon of brakes for 10-car trains, Ac.. while loss In gross Is due to
the fact that comparison is with the time of the Hudson-Fulton celebration
a
c
a
year ago.
n These figures represent 30% of gross earnings.
0 These results are In Mexican currency.
Interest
Passenger cars
Freight cars
Road service
1.088
1,088
825
711
703
643
25,488
3,599
25,877
2,929
26,043
4,686
equipment
26,470
3,728
Passenger Traffic—
7,190,853
6,450,286
5,663,828
carried 8,306,930
Passengers carried 1 m..960,734,984 795,199,750 760,532,906 680,278,509
Receipts of pass, trains
$3,633
$3,563
$3,376
per mile of road
$4,022
Receipts of pass, trains
$1.71
$1.77
$1.63
per rev. train mile*..
$1.77
Freight Traffic—
Tons comm’l fgt. carried 15,312.211 13,726,025
13,089,163
14,089,649
No. of
rev.
pass,
5271930813
4,798,854
5704061535
4,891,895
1,155,577
$9,765
$4.62
1,054,427
$8,908
$4.63
1,086,611
$9,147
$4.31
1,185,367
$9,710
547.89
546.49
512.07
474.97
Tons carried one mile
5997233894
Tons company fgt. carr.
5,720,134
Ton miles per mile of
road (all freight)
Receipts per mue of road
Rec. per rev. train mile*
5266658054
4,663,995
$3.89
Tons per rev.
fgt. train
mile—all freight*
♦Based
on revenue
passengers
and freight and all mixed train miles.
INCOME ACCO UNT.
1909-10.
Revenues—
Passenger
1908-09.
1907-08.
$20,814,820 $17,672,357 $16,719,364
4,509,434
3,883,884
4,354,717
61,479,680
54,000,195
52,885,213
1,702,531
1,383,180
034,316
1,300,032
1,616,448
1,721,627
Mall and express
Freight
Switching, rentals, Ac
Outside operations—revenue
Total revenues..,
$90,228,092 $78,750,461 $76,039,225
Operating Expenses—
Maintenance of way and structures._ $9,915,482
Maintenance of equipment
9,061,519
Traffic expenses
1,985,017
Transportation expenses
22,205,807
1,964,856
1,806,228
3,264,848
General expenses
Outside operations—expenses
Taxes....
$7,682 146
7,484,599
1,563,031
17,914,909
1,908,391
1,442,009
2,570,562
$9,106,168
8,32 5,812
1,309,556
19,427,488
1,918,491
1,516.520
2,444,726
Total expenses and taxes
$50,203,257 $40,515,647 $44,138,761
Revenue over expenses and taxes. .$40,024,835 $38,234,814 $31,900,464
Fixed Charges—
Interest on bonds to hands of public.$12,455,577 $13,331,368 $11,245,899
Sink, fund Utah A Nor. Ry. cons. M_
16,013
12,013
12,013
Hire of equipment—balance
1,923,096
1,389,483
1,487,123
Rentals (net) for lease of road, Joint
tracks,
Ac
Cr.863,490
Cr.360,058
Or.544,280
$14,031,106 $14,372,806 $12,200,755
Previous
Year.
c2O,036
Sept 30-_---
Interboro Rapid Trans.Sept
—Bal. o) Net E’ngs.—
Current
Previous
Year.
Year.
$33
Duluth-Super Tr Cor-..Sept
C178.583
882,773
July 1 to Sept 30-.-,_- 2,653,159
Lehigh Valley Trans Co.Sept
25,433
Deo 1 to Sept 30
356,860
MllW Elec Ry & Light..Sept
115,118
Jan 1 to Sept 30
1,009,301
MUW Lt, Ht & Tr Co._.Sept
73,260
Jan 1 to Sept 30
635,363
North Ohio Trac A Lt--Sept
43,392
Jan 1 to Sept 30
300,161
St Jos (Mo) Ry, L A P-.Sept
23,158
Jan 1 to Sept 30
203,759
158,124
*138,588
1,409,507 *1,144,640
22,410
c20,757
171,329
C168.O90
832,691
*319,591
2,649,981
*652,613
26,650
37,706
345,633
*140,965
111,552
*88,164
952.841
*624,463
69.152
580.851
42,928
393,342
22.058
192,030
*127,606
*959,598
18,193
125,528
*458,323
*787.628
30,169
*73,847
*85.467
*664,089
*37,727
*239,682
*38.091
*239,432
63,652
437,387
23,544
148,541
56,238
353,100
25.418
156,198
After allowing for other Income received.
preferred stock.
Deduct—
Div. on preferred stock (4%)
Dlv. on common stock, 6% (not in¬
cluding the 4% paid from sources
other than transportation, making
total of 10% (see below)
Divs. on Oregon RR. A Nav. pre¬
ferred stock outstanding
Income Other than from
$3,981,764
13,022,319
11,806,996
11,729,274
240
64
94
Transportation—
$1,119,156
$1,143,064
RR. A Nav. Co..
15,298,078
Rentals from steamships
304,800
Sales of unpledged lands A town sites
928
Miscellaneous receipts
87,318
Bal. of tot. on loans A on open accts.
14,711,807
304,800
15,370,873
249,132
2,576
506
other than with auxiliary cos
Miscellaneous expenses
1,556,660 def.540,226
def.18,367 def.203,658
than
Oregon Short Line and Oregon
2,559,720
def .2 ,776
59,762
..$10,512,051 $17,736,393 $16,019,692
_
8,681,548
7,871,331
7.819,516
Surp. other than from transport’n.$10,830,505
Annual Reports.—The following is an index to all annua
reports of steam railroads, street railways and miscellaneous
companies which have been published since Sept. 4.
This index, which is given monthly, does not include
reports in to-day’s “Chronicle.”
Railroads—
Railroads (Continued)—
Page.
Page.
Atch, Topeka A Santa Fe Ry.r934. 949 Wabash RR
1020
Atlantic Coast Line Co. (balance :
Western Maryland (preliminary 6
sheet of June 30 1910)
1091
months’ statement)
1097
Baltimore A Ohio RR
1020, 1037
Electric Railroads—
Boston & Maine RR
864 American Railways Co..
780
Canadian Pac. Ry. (Annual Meeting) 1093 Aurora Elgin A Chicago RR
1095
Central RR. of New Jersey
864 Boston A Worcester Ry
869
Chesapeake & Ohio Ry
786, 802 Boston Elevated Ry
869
Chicago & Northwestern Ry.785, 806 Michigan United Ry
1096
Northwestern
Elevated Ry., Chicago 866
Chicago Indianapolis & Louisv. Ry. 866
Chic. St. Paul Minn. A Omaha Ry. 786 Philadelphia Rapid Transit.
789
Cincinnati Hamilton A Dayton Ry.1091 Railways Company General.
867
Cine. New Orleans A Tex. Pac. Ry_1095
Industrials—
Duluth South Shore A Atlantic Ry. 788 American Window Glass Co..
1097
Erie RR
1020, 1029 Consolidated Gas, Electric Light A
Great Northern Ry.
Power
1091, 1099
Co., Baltimore
1093
Gulf A Ship Island RR
1095 Crucible Steel.
1023
Hocking Valley Ry
884 Distillers' Securities Corporation... 943
Illinois Central RR
879, 863 Federal Mining A Smelting Co.....1023
Kansas City Southern RR
963, 940 FederalTeleph. ATeleg. Co., Buffalo 869
Louisville A Nashville RR
953, 940 Gulf Refining Co. (bal. sheet Jan. 1). 860
Louisville Henderson A St. Louis Ry. 788 Homestake Mining Co
869
Maine Central RR
788 Lake Superior Corporation
868
Minneapolis St. Paul A S. S. M. Ry. 787 Lehigh A Wilkes-Barre Coal Co
867
Missouri Kansas A Texas
.786, 799 Massachusetts Gas Companies.
1023
Nashv. Chattanooga A St. Louis Ry. 865 Mergenthaler Linotype Co
1094
National Rys. of Mexico
943 National Casket Co.
944
Nevada-Califomla-Oregon Ry.
865 New York Dock Co
944
New York New Haven A Hartf. RR. 941 Ogilvle Flour Mills
1098
Northern Pacific Ry
943 Pacific Coast Co.
1094, 1106
Pere Marquette RR
1092 Pope Manufacturing Co
867
Quebec Central Ry
1096 Texas Co. (application to list)
960
Reading Co
785, 793
St. Louis Southwestern Ry
States Motor Co. (official
942
Seaboard Air Line Ry
statement Sept. 1)
1021
868
Southern Ry
1020, 1034 Western Canada Flour Mills
1099
Toledo Peoria A Western Ry
866 Western Union Telegraph Co
1022
Virginia A Southwestern Rv
1096 Westlnghouae Air Brake
867
-
„
» States Coal A Oil Co
$3,981,760
Int. on bonds of companies other than
Ore. Sh. L. RR. and Ore. RR. A N. $1,263,983
Dlvs. on stocks of companies other
Total.
ANNUAL REPORTS.
$3,981,760
$17,004,319 $15,788,820 $15,711,132
$8,989,320 $8,073,188 $3,088,576
Surplus from transportation pper
Divs. on common stock, 4% (addi¬
tional to the 6% from transport’n)
944
Union Pacific Railroad.
(Report for Fiscal Year ending June 30 1910.)
On subsequent pages is given the report of the board of
directors, signed by President Robert S.* Lovett; also the
comparative income account and balance sheet for two years,
1,051
1,134
$25,993,630 $23,862,0.8 $19,699,708
178.802
1,511,120
on
5,645
Equipment—
Total charges
Sept
Includes dividend
1906-07.
5,781
Surplus above fixed charges
Current
Year.
Detroit United
Jan 1 to Sept 30
1907-08.
Charges and Surplus.
3
*
c
TRAFFIC STATISTICS.
1909-10.
1908-09.
Aver, miles of road oper.
6,296
6,062
—Jnt., Rentals, Ac.—
Roads.
Janl to
and other tables.
Below are the principal traffic statistics,
and comparative income account for several years, compiled
for the “Chronicle.”
Locomotives
Nov. 26 1910.
Jan 1 to
1153
9,865,062
$8,200,176
$19,819,825 $17,938,250 $12,188,752
Total surplus from all sources
—V. 91, p. 1027. 872.
Northern Pacific Railway.
(Report for Fiscal Year ending June 30 1910.)
of President Howard Elliott will be found on
subsequent pages, together with the Income account, profit
The report
and loss account, balance sheet and traffic statistics. The
comparative income account was given in the “Chronicle”
of Oct. 8, page 943.
Owing to changes in the form of the
balance sheet as stated by the company, no correct com¬
parison
can
be made with previous years.
traffic statistics for several years are
Average miles operated.
Equipment— Locomotives
operations.
1909-10,
1908-09.
5,765
5,671
l ,430
Passenger cars
Freight cars
Miscellaneous cars
Comparative
given below.
1,119
43,816
6,755
~
.
1907-08.
5,633
1906-07.
5,444
1.314
1.323
1,005
41,498
6,417
1,255
923
893
42.171
5,935
42,820
6,129
Operations—
Passengers carried
9,639,994
8,404,712
6,953,424
7,880,833
Passengers carried 1 mile976,772,093 767,439,465 794,851,948 722,745,259
Rate per pass, per mile.
2.28
2.26 cts.
2.25 cts.
cts.
2.18 cts.
Revenue freight carried. 18,268,908
15,836,823
16,741,470
16,800 504
do
do
1 mile.5419084365
Rate per ton per mile
! 0.900 cts.
Gross earns, per mile...
$12,928
—V. 91. p.
5260492660
0.895 Cts.
5156378369
5104444088
0.800 cts.
0.866 cts.
$12,071
12,110
843, 39.
Rock Island Company.
(Report for Fiscal Year ending June 30 1910.)
subsequent pages we give the report of the operating
company, the Chicago Rock Island & Pacific Ry.
We also
give below the balance sheet and profit and loss account
of the Chicago Rock Island & Pacific RR. (all of whose stock
except directors’ shares is owned by the Rock Island Co.)
and the combined income account of the two companies
On
last named.
President Roberts Walker Oct. 24 says:
Capitalization—Sale of St. Louts A San Francisco.—The Increase to stock
outstanding ($574,490_pref. and $820,700 common) represents the acqui¬
sition by the Chicago Rock Island A Pacific
of the Chicago Rode Island A Pacific Ry
RR. -of 8,207 shares of stock
- -
—■
'
-
1154
THE CHRONICLE
The changes in the condition of
Chicago Rock Island
are as
follows:
& Pacific RR.
Tons
Tons
Tons
Tons
$3,690,372
5 %
21,731
$3,681,835
32,296
$3,850,858
6M
21,560
$3,564,071
$3,712,103
$3,714,131
$3,872,418
$43,913
$19,928
$31,235
$48,152
3,648,790
3,679,965
3,673.645
3,668,977
1907-08.
Deduct—
Int. on C. R. I.
RR. Co. bonds
&
P.
1909-10.
$
Earnings-
1906-07.
Miscellaneous
Other than
3.Bridges,&c
_
_
Traffic
_
_
_
$
66,220,579
61,184,887
58,484,107
10,673,387
8,455,746
1,795,262
25,195,579
1,949,395
9,051,830
7,512,889
1,441,214
22,848,052
1,659,510
8,078,026
7,358,590
1,486,473
23,600,342
1,612,749
transportation.
.
1907 08.
473 462
19,378,174
3,375,682
"
Operating Expenses-
1908-09.
$
39,158,053
17,883,379
3,056,761
720,281
366,413
.
on
Expenses and taxes
1907-08.
INCOME ACCOUNT.
p. 1667.)
COMBINED INCOME ACCOUNT—ROCK ISLAND COMPANY AND
CHICAGO ROCK ISLAND
PACIFIC RAILROAD CO.
1908-09.
1908-09.
moved
moved
moved
moved
_.
(V. 89,
1909-10.
C. R. I. &
P.Ry.Co. stock owned. $3,538,088
Per cent of said dividend
5
Other income
25,983
1909-10.
LXXXXI.
(rev. freight), No
19,167,179
17,145,657
15,877,646
(co. freight), No
5,972,748
5,086,522
4,698,062
1 m. (rev. ft.). No
4567089,384 4160828,170 4019704,681
lm. (co. ft.), No..
701,013,424 569,193,324 535,757,216
Passengers carried. No
20,137,409
18,743,022
16,960,747
Passengers carried 1 mile, No
1016385,259 952,679,666 881,991,344
Earnings per ton per mile..
$0.0094
$0.0092
$0.0094
Earnings per train mile..
$2,380
$2,490
$2,402
Tons per train per mile (rev.
265
freight).
257
255
Tons per train per mile (co.
freight)
36.19
39.51
33.96
Earnings per pass, per mile
$.0191
$.0188
$.0189
Earnings per train mile (including
mail and express, &c__
$1,226
$1,234
No. of passengers
per train mile
54.31
55.34
52.10
Total earnings per mile of road
$8,233
$7,623
$7,338
Funded Debt of Chicago Rock Island & Pacific RR.
Name of Bond—
June 30'10. June 30 ’09.
Increase.
Decrease.
4% gold bds. (due 2002)$71,207,400 $70,386,700
$820,700
5% gold bds. (due 1913)
17,364,180
$17,364,180
5% gold bds. (due 1913)
7,500,000
7,500,000
The $820,700 of the 4%
gold bonds were Issued against the acquisition
of 8,207 shares of stock of the
Chicago Rock Island & Pacific Ry. Co.
On Dec. 1 1909 the Chicago Rock Island & Pacific RR. sold to B. F.
Yoakum and associates its entire holdings (289,403 shares) of
the common
stock of the St. Louis & San Francisco
RR., and called for payment on
Feb. 1 1910 its entire issue of
$17,364,180 5% gold bonds of 1913, originally
Issued against the acquisition of such common stock.
To provide in part
the funds necessary to redeem the said
5% gold bonds of 1913, the company
issued and sold to the Chicago Rock Island & Pacific
Ry. $7,500,000 or 5%
gold bonds due 1913.
This transaction resulted in a net decrease of $9,864,180 In Its funded debt and of $493,200 per annum in its fixed charges.
Dividend
IVOL.
37,899,356
16,693,111
2,822,357
701.801
367,572
$3,692,703
$3,699,894
48,069,369
42,513,495
$3,704 880
$3,717,129
42,136,180
Net
defl28,632
18,151,210
$12,209
18,671,392
16,348,017
$9,251
$155,289
2,876,701
2,270.865
The combined profit and loss surpluses of the two companies on June 30
1,789,895
1909 was $457,858 (viz., $83,747 of the Rock Island Co. and $374,111 of
15,274,509
the Ch. R. I. & Pac, RR.); deducting the deficit of the two
16,400,527
14,558,122
companies as
df .92,727
df.155,891
df.146,201
above, $128,632, leaves a surplus of $329,227; deducting also premium on
Hire of equipment
IIII.
df.1.171.066
bonds called and paid, discount on 5% bonds due 1913 sold and
df.812,116
df.912,279
sundry
1,550,189
other items not applicable to current year, $638,697, leaves
1,169,788
1,133,640
a total accumu¬
lated deficit of both companies combined as of June 30 1910 of $309,470
Total.,
223,232
211,471
118,634
(consisting of $96,803 sunplus of the Rock Island Co. and $406,273 deficit
otal lnci
of the Ch. R. I. & Pac. RR.; see balance sheets of the two
15,497,741
16,611,998
14,686,756
companies on
Deductanother page).
9,129,875
“The item ($309,470) is purely a bookkeeping deficit.
8,861.223
8,413,222
The chief income
1,547,402
of the Chicago Rock Island & Pacific RR. and,
1,567,967
1,545,232
through it, of the Rock
Betterments,
leased
lines.
72,583
Island Co.,is from dividends paid by the Chicago Rock Island & Pacific
16,577
10,199
Ry
£3,743,272
These dividends are declared and paid when and as needed to meet the cash
1/3,930,019
1/3,929,785
requirements of the Chicago Rock Island 8c Pacific RR. Therefore its in¬
14,493,132
cone i«» on a cash basis.
14,375,786
13.898.438
On the other hand, its deductions from income
1,004,609
account cn account of interest on bonds is,
2,236,212
788,317
owing to the fact that such
Interest is a fixed charge, on an accrued basis, thereby causing a deduction
x 5% in 1909-10.
V 514% In 1908-09 and 1907-08.
on an accrued basis from an income on a cash
basis, a part of which deduc¬
—V. 91, p. 1095. 711.
tion does rot have to be provided in cash until the next bond interest
dates,
viz., on the 4% bonds Nov. 1 and on the 5% bonds Sept. 1.
“It will oe noted, moreover, by reference to the balance sheets of the
Chicago & Alton Railroad.
Rock Isla d Co. and the Chicago Rock Island & Pacific RR. that the cash
and cash Items combined amounted on June 30 1910 to
{Report for Fiscal Year ending June 30 1910.)
$1,133,498, which
Is far more than sufficient to take care of all the cash
requirements maturing
President T. P. Shonts says in part:
prior to the receipt of the next dividend upon the stock of the Chicago
Rock Island & Pacific Ry.”
General Results.—The gross for the year was
$13,358,475, an increase of
The profit and loss account of the Rock Island Co.
$857,793, or 6.86%, and notwithstanding the loss of coal tonnage due to
proper shows: Surplus
June 30 1909, $83,747; income from dividends on Ch. R. I. & P. RR.
the strike in the coal fields, the
largest in the history of the company.
stock,
$50,000; other income, $1,131; expenses and taxes, $35,606; sundry items
Freight traffic yielded $8,145,347, an increase of $504,4<U, or 6.60%.
not applicable to surplus of current
The commercial. Industrial and agricultural
year, $2,469; surplus June 30 1910,
conditions were very favorable.
Soft coal, owing to the strike in effect since
$96,803.
April l 1910, has shown an
estimated
loss
In
freight
revenue
of
$750,000. Passenger traffic shows an
BALANCE SHEET OF ROCK ISLAND COMPANY JUNE 30.
Increase of $312,451, or 8.17%.
1910.
1909.
1910.
The expenditures for maintenance of
1909.
way and structures Increased
Assets—
$
$
Liabilities—
$
$276,335, or 22.63%.
$
7,426 tons of new ana 4,595 tons of reaylng rail
Stocks owned ..150,007,515 150,012,031 Common stock.z96,000,000
were
96,000,000
placed In the tracks, making a total of 98.23 miles of track relald
Cash
89,768
12,939 Preferred stock.y54,000,000 54,000,000
during the year; 368,129 cross-ties were put in main track. The wages
Companies and
Cos. & individ’s
of section men were increased, from 12 H to 15 cents
480
548,643
per hour.
There
individuals
607,420 Surplus
was expended $1,499 per mile of road for maintenance of
96,803
83,747
way and structures.
Maintenance of equipment Increased $244,957, or
19.62%, practically all
Total
150,097,283 150,632,390
Total
of which was in repairs of equipment.
150,097,283 150,632,390
The average cost for repairs and
renewals per locomotive, based on the number owned
as of July 1 1909,
x Includes;
Issued and held in treasury, $5,257,897. y Includes:
was
Issued and
$2,977;jper passenger car, $706; per freight car, $26.
held in treasury. $4,154,820.—V. 91, p. 1096, 717.
Taxes.—The marked increase In taxes is giving your management much
concern.
The total amount paid in taxes account of the calendar
year
1909 was $459,633, an Increase over the previous
year of $79,127, or 20.80%.
Chicago Rock Island & Pacific Railroad.
General Remarks.—The results of the operation have not been
altogether
{Statement for Fiscal Year ending June 30 1910.)
satisfactory. While the operating revenue shows a substantial gain, this
has been more than offset by the increase in operating
cost;
gross
revenue
The income account and balance sheet of this Railroad showing an Increase of
$857,793, as against an Increase In operating expenses
and taxes of $1,298,890; and it was only by the closest
which owns most of the stock of the Railway results were obtained.
economy that these
the winter there was an unprecedented
Company and is itself controlled by the Rock Island Company fall of snow and very Throughout
cold weather, which considerably reduced power
and retarded train movement, making it Impossible to handle all
through ownership of the entire outstanding stock (see Rock efficiency
the business offered,and at the same time
increasing the cost of operation.
Island Company above), is as follows:
While operating costs are steadily increasing, rates of
transportation are
Company,
INCOME ACCOUNT FOR YEAR ENDING JUNE 30.
1909-10.
1908-09.
1907-08.
1906-07.
Div. on Chic. R. I. & Pac.
$
$
£3,538,088
1/3,690,372
1/3,681,835 fc3,850,857
Other Income.
24,852
21,202
31,949
19,924
...
3,562,940
...
Deduct—
Expenses..
Int. on 5% bonds..
Dividends
5% In 1909-10.
V
3.870,781
8,308
2,815
2.246
2,811,765
868,200
1,591
2,805,445
868,200
75,000
2,800,960
3,682,780
sr.28,794
3,750,891
df .37,107
3,745,567
sr.125,214
3,707.098
X
3,713,784
2,829,840
818,950
50,000
...
3,711,574
df.144,158
5H% in 1908-09 and 1907-08.
k
868,016
75,000
5H% in 1906-07
BALANCE SHEET JUNE 30
1910.
$
1909.
Assets—
$
Stocks owned ..222,761,929 232,793,841
Other lnvestm’ts
286,520
320,631
Cash, &c
Profit and loss..
Liabilities—
1910.
$
1909.
$
Capital stock... 145,000.000 145,000,000
Gold bonds, 4% 71,207,400
70,386,700
831,269 Gold bonds, 5%
7,500,000 17,364.180
Unpaid coupons
191,339
62,110
Interest, not due
599,713
758,640
Profit and loss..
374,112
1,043,730
*406.273
...
Total assets..224,498,452 233,945,742
Tot. liabilities
224,498,452 233,945,742
* After
charging to profit and loss $636,228, being the premium on bonds called
and paid, discount on 5% bonds due 1913 sold, and sundry other items
not appli¬
cable to current year.—V. 89, p. 1667.
_
_
.
.
_
.
-
.
.
.
_
_
„
gradually decreasing.
Notwithstanding
very substantial Increases granted to shopmen, train¬
switchmen, freight-house men, section men and others at different
periods of the year lust closed, the labor problem Is still confronting your
management in the form of applications for further Increases.
[Mr. Shonts
then presents arguments for an increase In
rates.—Ed.)
men,
ADDITIONS AND BETTERMENTS—AGGREGATING
$1,453,797.
passenger-train cars, $78,190; less credits
$348,272
Bridges, trestles and culverts. $71,124; ballast, $12,114
83,238
Additional main tracks, $673,324; sidings and spur tracks,
$46,509;
terminal yards, $28,570
748,403
Track elevation, elimination of grade crossings. &c
*
159,266
Stations, shops, engine-houses, water and fuel stations, &c
114,618
RAIL, BALLAST, BRIDGES, &c., IN MAIN LINE AND BRANCHES
Equipment—Locomotives, $297,135;
1.
OWNED ON JUNE 30.
Rail—
80-Zb.
75-Zb.
1910, miles
1909, miles
858.45
54.41
52.96
856.67
70-Zb. 65-Zb.
111.87
6.10
115.83
7.20
60-Zb. 56-Zb. 52-lb.
58.60 31.12
6.60
87.89
6.60
Ballast
2. Ballast—
Stone.
Main line, miles..566.62
Branches, miles._ 51.84
Total miles...618.46
Total June 30’09.621.01
Gravel. Cinders.
107.50
106.03
55.55
91.96
163.05
164.69
197.99
178.55
—Aggreg. Length Bdges.(ft.)—
Slag.
34.33
21.67
Total.
Miles of
Soil. Bridges.
81.44
5.07
5.14
1,127.15
1,127.15
Total.
819 55
307.60
56.00
81.44
10.21
1,127 15
67.48
85.25
10.17
1,127.15
—Overhead Crossings (No.)—
Stone
Steel.
Wood.
Trestles.
Highway. Rwu.
1910
..304
27,462
640
25,553
36
8
1909
..304
27,204
640
36
25,553
8
Between June 1899 and June 1910 the total tractive
power of the loco¬
motives in service was increased from
2,874,520 lbs.
to 8,053,693 lbs
180.18%; the total capacity of the freight equipment in service
was
Increased from 131,890 tons to 475,158 tons, or
260.27% (having been, how
ever, 479,383 In June 1910); and the
average capacity per car was in¬
creased within this period from 21.52 tons to
39.98
or
The
Chicago Rock Island & Pacific Railway.
{Report for Fiscal Year ending June 30 1910.)
full text of the report, comparative balance sheet and
other data will be found on another page.
Below are a comparative income account and
statistics from the annual report.
....
various
ROCK ISLAND SYSTEM—MILEAGE AND TRAFFIC
STATISTICS.
Equipment and Operations—
1909-10.
1908-09.
1907-08.
Average miles of road operated
8,044
8,026
7,970
Locomotives
1,486
1,410
1,386
Passenger
Freight
Service
cars...
cars—
can
„
_
Miles June 30
984
897
899
89,380
3,814
37,448
3,280
39,581
3,162
,
tons, or 85.78%.
OPERATIONS AND FISCAL RESULTS.
1909-10.
1908-09.
1907-08.
1906-07.
998
998
Operations, <fec.—
Tons rev. freight carried
8,511,682
8,437,278
Tons rev.fght. carr. 1 m.1363210565
1339954801
Fgt. rects. per train mile
.
$2.29
$2.34
Fgt. rec. per ton per mile 0.598 cts.
0.572 cts.
Rev. passengers carried.
3,833.022
3,828,056
Rev. pass. carr. 1 mile .218,496,830
209.859,470
Rects. per pass, per mile
1.893 cts.
1.822 cts.
Rects. per pass, train m.
(incl. mall & express)
$1.42
$1.33
Av. rev. tr. load (tons).
383.07
409.99
_
998
970
7,855.315
1256931872
$2.48
8,358,294
1386988037
0.610 cts.
3,427.982
$2.42
0.587 cts
3,061,216
189,430,982 180,768 202
1.854 cts.
$1.3t
,406.94
2.054 cts.
I£j
$134
412.5«v
Oct. 29
THE CHRONICLE
1910.|
1155
BALANCE SHEET JUNE 80.
REVENUES AND EXPENSES.
Operating revenues—
Freight
Passenger
Mall, express and miscellaneous
1009-10.
$8,145,347
4,136,505
... -
1,076,533
1008-09.
$7,640,946
3,824,144
$7,871,477
3,511,410
919,903
1,035,592
Expenses—
$1,496,484
4,797,685
1,493,703
470,092
382,243
_
Total operating expenses
—
$8,640,207
Net operating revenues
$4,718,268
INCOME ACCOUNT.
$1,220,1491 $5,272,914
.j
4.077.135J
1,248,746
504,398
358,170
1,558,466
483,688
343,349
$7,658,416
$4,444,374
$7,408,598
$5,092,084
Increase (+) or
1908-09.
Dec. (—).
1909-10.
operating revenues..
$4,718,268
Interest on stocks and bonds
2,908
Miscellaneous interest and discount—
Other Income
def.16,970
$5,092,084 —$373,816
$4,704 ,206
$5,186,101 —$481,895
Net
Total net income
Deduct—
Taxes
Hire of equipment—balance
—879
3,787
99,886
def.9,656
-
$447 ,434
245 ,179
197 ,990
9 ,604
2,199 ,057
—99,886
—7,314
$380,153
195,543
171,994
+49,636
+25,996
+9,604
+ 181,595
—300,000
+35,670
—248,469
—17,586
—
..
Total deductions.
$4,857,592
$153,386
—390',856
$5,444,721
$258,620
-$587,129
-$105,234
BALANCE SHEET JUNE 30.
1909
1910.
1910.
Assets—
Liabilities—
$
$
$
Road, fran., Ac.100,240,133 99,134, 608 Capital stock
39,966,100
Guaranteed
stks
709
3,693,200
Equipment ....al5,356,713 15,137,
Secure, pledged. 57,284,893
3,798, 893 Funded debt (see
Secure, of prop.,
Ry.AInd.sec.) 75,016,000
Ac., cos. unpl.
366, 455 Equip, tr. Dotes 4,534,500
C476.870
Real estate, Ac.
19, 382 Bills payable...
9,001
575,000
Cash
1,915,313
1,311, 048 Vouchers
1,278,128
325
securities.
Misc.
dl0,710
10,
Wages
435,455
185, 883 Traffic,Ac., bals
277,382
172,281
Agts.Aconduc’s.
Cos. A Individ’s
576,478
445, 422 Agents’drafts..
157,433
Material A supp.
668, 801
822,433
Misc. accounts.
31, 577
30,910
divs..Ac.,unp’d
437,547
1909.
$
39,966,100
3,693,200
68,466,000
5,313,855
475,000
510,529
361,462
145,231
135,967
424,391
80 892
Dep. to redeem
sk. fund debs.
Disc, on secure.
144,348
553,734
18, 375 Taxes accrued..
475, 080 C.AA. divs. dec.
222,598
408,466
203,988
127,152
4,229
221, 495
guar, divs
113, 403 Oper. reserves..
5, 342 Oth. def. credits
444,314
411,948
303,833
30,401
487,681
22,878
5,342
440,009
186,405
816,908
Unadjusted frt.
claims
Oth. def. charges
Contingent assets
Total
a
128,034,287 121,943,798
Total
128,034,287 121,943,798
b Securi¬
After deducting $466,957 reserved for accrued depreciation,
ties pledged include in 1910 (a) securities of proprietary, affiliated and controlled companies (total par value $6,460,200 and book value $3,766,893),
viz.: $3,000,000 K. C. St. L. A Chicago RR. preferred and $157,100 common
stock; $989,300 Louisiana A Missouri River RR. preferred and $2,268,800
common stock and $45,000 Union Depot Co., Kansas City, stock; and (b)
securities issued or assumed (total par value $3,518,000, same book value),
viz.: $18,000 Mississippi River Bridge Co. bonds and $3,500,000 C. A A.
RR. 20-year 5% Improvement and equipment bonds,
c Securities of pro¬
prietary, afflUated and controlled companies unpledged in 1910 (total par
value $1,015,140 and book value $476,870) Include Joliet A Chicago RR.
guaranteed stock, $5,000; Peoria Ry. Terminal Co. stock, $500,000, bonds,
$1,500, and notes secured by its 1st M. bonds, $160,140; Terminal Ry.
Ass’n of St. Louis stock, $205,800;
Kansas City St. Louis A Chic. RR.
common stock, $500; Louisiana A Missouri River RR. pref. stock, $10,500,
and common stock, $31,700; Kansas City Terminal Ry., stock, $100,000.
d Includes $10,600 C. A A. 4% prior lien and participating stock and $710
miscellaneous.—V. 91, p. 1095, 1024.
Colorado & Southern
Ry.
(Report for Fiscal Year ending June 30 1910.)
On subsequent pages will be found at length the text of the
report and the comparative income account for two years,
showing the operations of the system and balance sheet.
Below we give the operating statistics, income account and
comparative balance sheet.
OPERATING STATISTICS.
1909-10.
1908-09.
Average miles operated
Operations—
2,042
1907-08.
1,980
1,932
3,560,637
3,517,798
2,935,266
mile. 159,880,113 151.765,939 140,350,114
2.45 cts.
cts.
2.48
2.53 cts.
freight (tons)
8,356,913
7,202,657
6,683,576
freight (tons) one mile
1249390.475 993,706,423 882,875,346
1.134'CtS.
1.067 cts
ton per mUe
0.964 cts.
257.13
270.44
Average revenue train-load (tons)—
306.29
$1.15
$1.20
Earnings per passenger train mile
$1.16
$2.89
$2.92
Earnings per freight train mile
$2.95
$7,394
$7,618
Operating revenues per mile
$8,216
Revenue passengers
passengers
Revenue
Rate per
Revenue
Revenue
Rate per
carried
carried
passenger per mile
INCOME
one
ACCOUNT—COLORADO A SOUTHERN
1908-09.
1909-10.
$
12.040,828
3,918,093
Operating Revenues—
Freight
Passenger
Mall, express A miscellaneous
Total
Operating Expenses—
Maint. of way and structures
16,777,981
15,080,412
2,188,645
5,378,794
Transportation expenses
2,521,273
274,271
500,472
Maint. of equipment
Traffic expenses
General expenses..
Total
Net operating revenue
Net—outside operations
Taxes
Operating income
-
LINES.
1907-08.
$
10,011,749
3,549,888
721,496
14,283.133
bonds, Ac
Sinking fund
on
pref. stock divs. (4%)
2nd pref. stock divs. (4%)
1st
Common stock (2%)
Total deductions
<1922,516
1,560,549
1,669.799
283,368
253,265 Stamf. A N.W.Ry.
90,782
Miscellaneous....
Acer, for renew..
Reserves
_
1,021 Equip, lease "Pull¬
man” int. notes.
31,275
1,575
Special funds
Miscellaneous
521,815 Interest on bonds
due and unpaid.
247,268
37,415 Int. accr., not due
220,257 Taxes accrued....
63,445
U. S. Government
Traffic balances
Accrued int. on se¬
curities owned.
Int. notes, equip,
lease “Pullman”
81,392
....
Profit and loss
122,791,897 119439,775
Total
4,920,385
4,634,961
2,665,009
35,058
2,683,682
37,843
2,463,058
58,571
340,000
340,000
340,000
340,000
620,000
4,021.526
3,201,629
60,184
95,287
7,567,849
$1,785,290, a decrease of $3,875.
Expenditures aggregating $496,076 were made for additions and better¬
ments and not included In working cost.
Additions and Betterments During Year ending June SO 1010—Total, $496,076
Sundry additions and betterments (notably Increased weight of
rails, $35,174; sidings and spur tracks, $16,546; terminal
yards, $30,825; shops, engine houses and turn-tables, $17,537;
water and fuel stations. $83,015)
$240,588
Additional cost of Schoodic Stream RR
57,038
Added cost of equipment paid car trust C and D bonds
180,000
Added cost of equipment through replacement, Ac
18,450
Sources from « hich this $496,076 was derived.
Proceeds of sale of consol, ret. 4s, $40,180; Nor. Me. Seaport
bonds, this yew, $16,000; and previous year, $75,000
$131,180
Excess cost of Schoodic Stream RR. paid from Income—
57,038
Proceeds from releasing spur track, $31,007; also of material re¬
leased by Nor. Me. Seaport RR., $32,850
63,857
Charged capital accounts
64,001
Paid from treasury, car trust CAD bonds
180,000
The roadway repairs and renewals included new steel rails (85 lbs. per
yard), 5,177 tons, and new ties (standard), 102,812.
The 85-lb. rail Is
now continuous from Searsport to Oakfleld, via Medford extension, ex¬
cepting for X of a mile—say 144 miles. The work of replacing wood cul¬
verts has been continued; 33 were replaced with Iron pipe and 13 with re¬
inforced concrete.
Two new concrete culverts were built.
New Lines.—The sections of the St. John River extension from Fort Kent
to St. Francis (16.56 miles) and from Van Buren to Grand Isle (15.20 miles)
were
completed and opened to traffic In 1909.
The Washburn Extension,
from Squapan to Stockholm, Including the Mapleton to Presque Isle spur,
in all 54.98 miles, was not completed until near end of June 1910.
The prospect for traffic development on these extensions is good.
Heav¬
ier train loads can be moved between Stockholm and Squapan than was an¬
ticipated; the
same
engine will probably haul 60 to 70% heavier train loads
than via the Stockholm, Boulton, Ac., route.
This result renders It ad¬
visable to Improve the grades and to otherwise strengthen the line between
Squapan and Ashland Junction, and to provide at the junction a spacious
yard. A portion of these improvements has been arranged for. It Is ex¬
pected that the economies to be effected will more than care for the inetrest
on the capital expenditure.
Work was commenced on the section of the St. John River Extension
between Grand Isle and Fort Kent, and it Is expected that the section will be
ready for operation before Dec. 31, adding to the system about 30 miles of
main line.
No progress
has been made toward the construction of the mooted Allegash Extension—from Sebools or vicinity to mouth of St. Francis River
West Branch of the Penobscot River, Cham¬
berlain Lake, at head of the Allegash River, thence via valleys of the Aliegash and the St. John. Arrangements have been effected for preliminary
surveys, from which the cost of the extension may be approximated.
OPERATIONS, EARNINGS, EXPENSES AND CHARGES.
‘
via Chesuncook Lake, on the
1907-08.
1909-10.
1908-09.
1906-07.
501
482
530
515
Pass, carried (revenue).
701,536
743,707
627,775
697,518
Pass, carried one mile.. 26,876,322
23,751,756 25.080,370 25,646,449
Rate per pass, per mile.
2.35 CtS.
2.38 cts.
2.40 Cts.
2.37 cts.
Rev. freight (tons) car’d
1,463,619
1,489,502
1,629,539
1,612,667
do
1
carried
mile. .191,230,064 181,361,658 159,901,973 196,544,091
Rate per ton per mile
1.15 cts.
1.17 cts.
1.17 cts.
1.19 cts.
Earnings—
$
$
$
$
597,993
Passengers
638,144
560,446
614,110
Freight
a
1,869,435
2,204,330
2,122,422
2,340,390
Operations’—
Average mUes
MaU, express,
vice, rents
Hire of
car
ser¬
equipment
150,900
114,280
148,056
172,742
135,576
98,371
225,754
152,916
3,163,272
2,916,815
2,844,082
3,221,696
428,926
271,871
35,320
955,553
552,010
344,000
(61.34)
5,651,700
90,782
9,271,399
105,112
587,074
292,893
321,935
139,641
were
1,789,165
4,338,688
296,273
88,188
598,575
309,105
304,824
174,208
6,232
387,301
General Results.—The gross revenue received from the operation of the
railroad in the year ended June 30 1910 was $3,163,271, an Increase of
$246,457 over the earnings of the previous year.
The operating expenses
(56.44)
1,377,982
466,702
2,536.102
100,000
634,873
564,424
418,226
Bangor & Aroostook Railroad.
{Report for Fiscal Year ending June 30 1910.)
Pres. F. W. Cram, Bangor, Me., Sept. 7, wrote in brief:
1,785,290
4,453,683
57,976,752
Ry., $900.—V. 91, p. 462, 333.
Total
Per cent exp. to earns..
Net earnings..
Other Income
5,414,332
39,422
a Bonds in treasury in 1910 include:
Colo. A South, ref. and ext, M. bonds, par
value, $2,008,781; Fort Worth A Denver Terminal Ry. 1st M. bonds, par value,
$428,000.
b Securities of other companies held, see Ust on a subsequent page.
d Includes in 1910 Walsenburg A Western, $21,307; FideUty Construction Co.,
$8,239; Dallas Terminate, $225,108; Trinity A Brazos Valley, $6,884; Houston
Terminate, $193,208; Alvord RR., $98,553; Galveston Terminate, $15,525; electri¬
fication, $44,554; advance surveys, $12,596; right of way and terminal property
for new lines, $296,542.
e Includes Colorado Springs A Cripple Creek District Ry., $900: Fort Worth A
Denver City Ry., including $23,884 “stamped,” $25,484; Wichita Valley Ry., $900;
Col. RR. Co., $500; Denver A Interurban RR. Co., $700; Wicl.lta Falls A Okla¬
homa Ry. Co., $900; Wichita Valley RR. Co., $900; Abilene A Northern Ry. Co.,
$900; Fort Worth A Denver Terminal Ry. Co., $900; Stamford A Northwestern
Cr.5,465
407,101
393,907
3.500,000
8,500.000
31,000,000
122,791,897 119439,775
Total
482,707
324,313
'
1,125,790
632,054
143,775
251,691
477,365
Agts. A conductors
447,229
335,727
33,804
839,878
128,652
525.706
3,032,131
1,075,534 Pay-rolls
692,930 Foreign roads
Maint. of way A struc..
Maint. of equipment
Traffic expenses
Transportation expenses
General expenses
Balance, surplus
1,651,633
898,859
1,433,332
♦In 1909-10 “other Income (net) ” Includes income from investments,
$541,194, and interest, discount and exchange, $44,850; less hire of equip¬
ment, $289,359 and rentals, $59,326.
at cost
Construe, adv. to
other companies
Material A supplies
Cash
Individuate A cos.
2,078,717
276,069
546,721
9,542,809
4,740,324
4,854,725
Dr. 7,135
620,000
4.000.067
and leases
Bills payable
1,558,418 Vouchers
512,370,418 11,872,009
cos.
1909.
$
Equipment bonds
Securities of other
2,447,906
277,664
5.914,526
Dr.22,324
340,000
340,000
0,132,634
5,061,334
6.641.302
Deduct—
Interest
...
Bonds in treasury.a2,436,781
Ref. A ext. M. bds.
held for bett’ts.
347,868
2,162,5601
4,811,851/
10,225,687
*237,368
equipment ....88,050,380
Improvements
1010.
$
Liabilities—
1st pref. stock
3,500,006
86,321,653 2d pref. stock
8,500.000
0,236,065 Common stock...31,000.000
4,255,998 Stocks controlled,
cos. not owned.
«32,984
2,047,037
Fund .debt (see“Ry.
A Ind.” Sec.)..59,594,549
1,067,815
Total gross earnings._
10,863,455
477,870
__
Other Income (net)
Gross corporate Income
819,060
10,600,743
3.756,694
722,975
1909.
$
+ $67,281
Rentals paid—balance...
Miscellaneous Interest
Interest on bonds
2,017,462
Interest on collateral notes
300,000
Interest on equipment notes
213,664
249 ,334
Dividends on guaranteed stocks (rentals)
241,024
241 ,024
Discount on securities written off
42 ,596
291,065
Divs. on prior lien and partic. stock
,758
(8%)70,344
(6%) 52
Dividends on preferred stock (4%)
781,760
781 ,760
Dividends on common stock
(2%)390 ,856 (4%) 781,712
Balance, deficit
Assets—
Cost of road and
New equipment..
$13,358,475 $12,500,682 $12,102,790
Maintenance of way and structures.
Transportation expenses
Maintenance of equipment
Traffic expenses
General expenses
1910.
$
1007-08.
Operating Expenses—
Total net income
Fixed Charges—
Taxes
Interest on bonds
Dining car deficit.-•
Improvements A equip.
Interest and discount..
Disc, on securities sold.
Dividends (4%)
Total
Surplus
33,847
824,169
124,130
1,093,465
143,820
108,150
1,799,821
1,127,650
(63.28>
1,044,261
2,133,295
(66.21)
1,088,401
2,191
1,377,982
1,127,650
1,044,261
1,000,592
20,912
965,777
5.008
161,949
33,959
1,147
104,212
17,920
935,038
1,795
14,937
888,338
14,830
779,471
29,422
32,387
1,292,964
85,018
1,084,575
43,075
1,679
99,626
-
100,400
97,040 '
1,034,382
9,879
_
^
w
•
71,840
965,767
$24,625
1156
THE CHRONICLE
GENERAL, BALANCE SHEET JUNE 30.
1910.
1909.
1910.
A 9909—
$
Road and equlp’t.25,641,965
Nor. He. Seaport
RR.
Block
Real estate
420,000
Cash
467,280
Liabilities—
22,449,021 Capital stock
Mat’ls A supplies.
Oth. def. deb. Items
Total
43,461 Traffic, Ac., bate.
466,624 Vouchers A wages
81,669 Matured divs.,lnt.
A rents unpaid.
38,183
337,870 Divs. declared, int.
70,570
A rents not due.
102,377 Appropriated surp.
100,607
35,544
554,230
91,954
26,396
45,873
63,450
Mlscel. accounts..
Advances
Discount on bds..
Assets—
2,510,000
Bonds Aear trusts 22,495,000 20,005,000
420,000 Loans A bills pay.
774,409
780,000
43,461
Traffic, Ac., bate.
Agents A cond'rs.
3,004,200
Profit and loss
72,411
27,490,761 24,082,186
Total
23,603
193,979
25,036
112,598
295,275
235,385
218,112
161,949
324,234
165,121
249,646
27,490,761 24.082.186
-V. 90, p. 913.
...
Alabama Great Southern Railroad.
{Report for Fiscal Year ending June 30 1910.)
President W. W. Finley, New York, Oct.
5 1910, wrote:
Total
Property Accounts.—To
meet the new
regulations in respect to property
accounts, the actual cost value of equipment on hand
July 1 1909 In excess
of Its capitalized value was added to the
property account, and the accrued
^depreciation thereon was set up on the books.
Certificates for Funded Arrears oj Dividend on Pref. Stock.-—The usual
payments were made, leaving the amount outstanding June 30
1910 $79,893, final payment of which will be made Feb. 1 1911.
New Equipment Trust,—Equipment trust
agreement series D, dated
July 1 1909 was created under which has been
acquired: 20 locomotives,
15 passenger train cars and 825
steel freight train cars, costing $1,207,904,
payable: $207,904 In cash and the balance, $1,000,000,
In 20 equal semi¬
annual Installments (J. & J.), interest 4M%
The first install¬
per annum.
ment was paid Jan. 1 1910.
(V. 88, p. 1559.)
Maintenance, Ac.—Maintenance of way and structures shows an Increase
of $73,297, or 16.28%, due
principally to outlays on ballast, ties, rail, build¬
ings and roadway and track.
1,065 tons, or 7.98 miles, of new 85-lb. steel
rail were laid, replacing worn 75-lb. rail.
Weight of rail In main track
June 30 1910: 85-4b., 7.98 miles; 80-lb. 50.93
miles; 75-lb., 231.58 miles;
total, 290.49 miles.
Cross-tie renewals averaged 456 ties per
mile, com¬
paring with 404 ties during 1909-10. 44,205 cubic yards of
slag wese dis¬
tributed for renewals.
Maintenance of equipment shows an Increase of
$208,025, or 30.4%, due principally to heavy
repairs made to locomotives
nnd
freight train cars.
The total length of bridges June 30 1910 was
36,873 lineal feet, viz.: Iron
or steel structures, 2,305; wooden
trestles, 22,682ft.; ballasted deck trestles,
11,886 ft.
One wooden bridge was changed to a steel
girder span and an¬
other has been filled over a 30-foot concrete
arch; 30 wooden trestles, aggre¬
gating 4,838 ft., have been changed to ballasted deck
trestles.
Block Signals —During the
year 27 automatic block signals were added,
making a total of 132 signals in service on June 30
1910, protecting 92.1
miles of track
Transportation Expenses.—These show
increase of $102,582, or 8.87%,
as compared with the
previous year, while operating revenues Increased
$660,714, or 18.56%.
an
Development of
Traffic.—The traffic of the company continues to develop
The location of the railroad with reference to
the iron ana
steel Industries of Alabama and
Tennessee makes It an Important factor
In the distribution of their
finished products.
The company Is also bene¬
fiting from the location of an increasing number of diversified
industries
along Its lines, especially at Chattanooga and In the
Birmingham district.
Lumber continues to furnish a
large proportion (23.8%) of the total tonnage
satisfactorily.
handled.
The industrial development Is
being accompanied by an Increase
In passenger traffic.
Agricultural development Is advancing
pro¬
gressive lines.
Much of this territory Is admirably suited to along
diversified
agriculture and live-stock growing, and the
company is encouraging devel¬
opment In this direction.
—Rolling Stock—
Loco- Pass.
Freight
..
..
Cars.
6,464
5,902
6,000
6,253
—
Road Owned (Miles)
Rails
85-46. 80-46.
75-lb.
8
51
232
51
240
51
240
49
241
♦Includes also "ballasted deck trestles’
7,066 ft. in 1909.
—Ballast
Bridges, &c.~
Slag. Cinders. Wood.Steel.Ac.
281
9
*6.55
0.44
281
9
6.53
0.42
281
281
9
9
Operations—
0.42
0.42
aggregating 11,886 ft. in 1910, against
OPERATIONS, EARNINGS, EXPENSES. CHARGES.
1909-10.
Average miles operated
Passengers carried
Passengers carried 1 mile
6.53
7.26
1908-09.
AC.
1907-08.
309
761,669
47,479,568
309
635,051
41,856,317
644,095
42,541,263
_
2.26 cts.
2,334,785
Passenger
0.68 cts.
374.22
0.71 cts.
$11,507
$11,548
358.04
1908-09.
$
2,259,333
1907-08.
$
23,161
25,837
4,221,006
3,560,292
3,572,981
450,318
683,819
92,507
484,170
866,423
General expenses.
523,615
891,844
113,428
1,258,593
107,673
1,156,010
99,096
1,334,917
Total operating expenses
Net operating revenue
Outside operations—net deficit
2,895,153
1,325,853
7,944
2,482,650
1,077,642
2,870,689
5,949
9,712
Net revenue
Taxes accrued.
1,317,909
136,548
1,071,694
137,238
692.580
131,705
1,181,361
227,425
934,455
560,875
273,928
Total operating revenues
Operating Expenses—
Maintenance of way, &c
Maintenance of equipment.
Traffic expenses
Transportation
expenses
Operating Income
Hire of equipment—balance
Income from Investments, &c.
..
Total gross Income
Deductions—
Miscellaneous, rents, Ac
Interest on bonds
Interest on equipment obligations
•Dividends on common (2%)
Dividends on pref. stock (6%)
Total deductions
Balance, surplus.
84,981
87,376
97,803
702,292
73,819
62,481
1,482,605
1,081,917
914.846
155,997
300,221
147,107
114,492
289,651
97,665
97,815
156,600
202,821
013,454
569,151
300,221
84,335
80,043
156,600
202,821
202,821
891,084
704,629
190,833
210,217
*The company deducts the
common
stock dividends from the profit and
loss surplus, but are
deducted by us from the income
of simplicity.
account for the sake
....
106,672
62,831
65,480
136,783
101,410
214,191
100,189
162,503
82,880
4,220
953,244
.22,100,997 21,081,139
and
adding net miscellaneous credits, $808.—V. 89,
p.
1276.
Susquehanna & Western RR.
{Report for Fiscal Year ending June 30 1910.)
Pres. F. D.
Underwood, N. Y., Oct. 11, wrote in substance:
General Results.—The gross
revenue from operation increased
$221,614
6.81%.
The increase In
expenses was $201,112, or 9.79%.
Operating Income amounted tooperating
$1,074,935, an increase of $28,663, or 2.74%.
Investments,—The decrease In the account
"miscellaneous Investments—
securities, unpledged,” $241,000, was, on
account of tie redemption of
2d M, bonds of the N. Y.
Susquehanna
A Western Coal Co., which matured
April 1 1910, $245,000, less a small amount
of
Bonds.—The "mortgage, bonded and secured stock acquired.
debt” shows a decrease of
$175,000. Of the $3,500,000 Midland RR.
6% 1st M. maturing April 1
1910, $3,375,000 of these bonds have
been extended 30 years, with an
annual rate of interest of
5%; $11,000,
been defaced, were retired,
leaving $114,000 not yet presented for having
payment or extension (V. 90,
p.
373; V. 91, p. 95).
Of the $250,000
Paterson
Extension RR. 1st M. 6s,
matured June 1 1910, $200,000 have
been
extended
40
years with an
rate of interest of 5%;
$50,000 of this Issue of bonds, purchased annual
the sinking fund, have been canceled
through
(V. 90, p. 1364).
1909-10.
Operating Revenue— $
Freight
Passenger
INCOME ACCOUNT.
1908-09.
$
1909-10.
$
2,606,637 2,478,366 Expenses—Other op.
Mall, express, Ac...
645,390
104,016
600,503
97£27
153,053
1908-09$
86,354
Total expenses ...2,399,425 2,206,474
Ratioof exp. to earn.(69.06%) (67.83%)
Earnings—RR ...3,356,043 3,176,096 Net earnings—RR__
1,110,571 1,055,977
Earnings—Other op. 118,317
76,649 Net earns.—aU op.. 1,074,935 1,046,272
,
Interest A dividends
Total earnings
3.474,360 3,252,745 Rents—joint facilities
Operating Expenses—
Maint. of way, Ac..
424,394
M&int. of equipment 359,595
Transp’n expenses.. 1,230,263
Traffic expenses
25,523
General expenses...
60,730
392,039
354,183
47,891
83.047
Expenses—RR ..2,245,472
Balance, surplus
2,120.119!
35,121
43,508
Total net income. 1,205,873
1,124,899
Deduct—
1,139,125 Interest on bonds... 805,936
24,341 Sinking fund, rentals
57,304
and miscellaneous. *210,183
144,966
153,127 Add'na A lmprov'ts.
1,808
Taxes
Total charges
816,665
188,047
13,320
1,017,927 1,018,032
187,946
106,867
♦
Includes in 1909-10, besides rentals accrued for
lease of other roads, $18,958
other rents aggregating $190,785 for hire of
equipment (balance), joint facilities, Ac*
CONDENSED BALANCE SHEET JUNE 30.
1910.
1909.
1910.
$
$
Liabilities—
$
Assets—
Road Aequlpm'ta36.811.149 36,753,231
Stocks of prop..
Stnpk /hpa "Pv
affil., Ac., cos.
3,827,396
Funded debt of
prop., Ac., cos.
403,005
Mlsc. investments 6809,530
Cash
623,026
Securities In treas.
1,860
Marketable secur’s
116,800
Traffic, Ac., bate.
151,067
Agts. A conductors
46,138
Material A supplies
180.232
Mlscel. accounts..
96,376
Traffic. Ac., bate.
Vouchers A wages
Int., rente, Ac.,due
Matured mtge.,Ac..
debt unp.ild.-_Miscel. accounts..
Interest and rentals
Sinking fund
Oth. def. deb. items
373,778
637,837
500
43
Total .........44,078,494
a
After
deducting $56,437
Ind ”
Jtr
1909.
$
Section) .26,000,000 26,000,000
3,827,396 Bonded debt (see
400,000
1.050,530
456,652
1,660
120,260
134,384
46,449
136,043
75,696
374,278
634,944
._r.r
44,011,566,
Ry.AInd.”Sec.) 15,438,000 15,613.000
189.924
217.145
116,541
177,740
450.743
117,604
164,000
4,572
3,503
135,519
659,886
Appropriated surp. cl44,40$
Profit and loss
dl,108,497
147,290
651,962
140,400
809,324
accrued, not due
Def. credit items..
Total
44,078,494 44,011,566
for accrued depreciation.
6 Miscellaneous investments Include
in 1910 securities pledged,
reserve
$291,500, and
unpledged, $518,030.
c Appropriated surplus
includes In 1910 additions to property since June 30
1907,
through Income, $77,828, and reserves from Income invested In
sinking and redemp¬
tion funds, $66,581.
crediting $168,000 premium
on
bonds sold and sundry items
amounting
p. 1026, 95.
$5,474, and deducting various Items aggregating $62,247.—V.
91;
Mobile & Ohio RR.
2,258,557
998,297
290,290
Mall, express and miscellaneous
Other revenue from operations
July 1 1909
d After
1909-10.
$
2,786,014
1,064,746
340,847
29,399
324,000
1,710,000
159,786
or
to
944.448
333,350
_
.
2,474,536
331,157,463 317.309.191
$
7,830,000
3,380,350
5,686,600
New York
2.35 cts.
INCOME ACCOUNT.
Operating Revenues—
Freight
of
Total
1909.
deducting $1,105,211 reserved for accrued depreciation of
deducting $245,396 for adjustment of equipment to basis ofequipment.
cost value as
Advances
309
Rate per passenger per mile.
2.24 cts.
Tons of revenue freight carried
3,433,384
Number of tons carried 1 mile
456,188,219
Rate per ton per mile
0.61 cts.
Tons of freight In eat* train
(revenue)
427.63
Gross earnings per mile
$13,642
22.100,997 21,081,139
After
6 After
a
Income Statement.—The gross
operating revenues show an Increase of
.$660,714; net operating revenue an Increase of $248,211. The Increase of
$163,782 In other Income Is due to Increase In receipts from rental of this
company’s freight cars and other equipment.
Dividends.—A dividend (No. 2) of 2%, declared out of
accumulated sur¬
plus and charged to profit and loss, was paid June 27 1910 on the
ordinary
shares.
June 30. mo. Cars.
1910... -.102
66
1909...
83
42
1908...
87
42
1907...
76
43
LXXXXI.
BALANCE SHEET JUNE 30.
1910.
1909.
1910.
$
$
Liabilities—
$
Road and equip¬
shares..
Ordinary
7,830,000
ment
_ol8 ,546,828 17,688,475 Preferred
shares.. 3,380,350
Leasehold estates.
324,000
324,000 Bonds
5,686,600
Investments
1 ,890,123
1,890,123 Leasehold estates.
324,000
Material on hand.
170,831
150,814
Equipment trusts. 2,302,000
Cash
422,339
Certlfs. for divs...
337,336
79,893
Cash In transit
67,289
38,411 Res. for renew., Ac.
134,628
Station agents, Ac.
91,578
57,508 Int. accr., not due
43,914
Deposits for lnt. A
Taxes not due....
76,022
rents due July 1
135,039
136,783 Interest A rentals.
135,051
Other transporta¬
Res. for dlv. on pf.
101,410
tion companies.
265,443
202,517 Vouchers
286,234
U. S. Post Office
Pay-rolls,
Ac
111,632
Department
7,562
6,362 Individuals A cos.
237,780
Individuals
and
Other transp. cos.
86,349
companies
107,146
95,755 Miscellaneous
8,325
Miscellaneous....
72,819
153,054 Profit and loss
61,277,807
1909.
9
$
[VOL.
{Report for Fiscal Year ending June 30 1910.)
Finley, New York, Oct. 6, wrote in brief.
President W. W.
General Remarks.—A material Increase Is
shown In the volume of busi¬
transacted for the year ended June 30
previous year, the gross revenue having been 1910,1 as compared with the
but
M% less than that for
the year ended June 30 1907, wbleh
was the largest in the
history of the
company.
The Increase, however. In the cost of both
labor and materials,
and in the amount of taxes
paid, has reduced the net revenue In
greater
ratio.
That the depression which has
so recently affected business
In this
country has been of an Industrial and not of an
agricultural
character can
In no way be better Illustrated
than by an analysts of the
traffic
returns
of the Mobile & Ohio RR. Co., which
serves a considerable district
devoted
almost entirely to
agricultural pursuits.
During
the
late
year the com¬
pany’s traffic In the products of agriculture, both as
regards volume and
value, was greater than ever before.
The cotton crop was less this
than last, but the greatly
year
Improved price has more than offset the decreased
volume.
This has had a material effect
upon the general wealth of these
communities.
The lumber traffic, which constitutes
the largest Item of
our business, assumed
normal proportions during the
year.
The continued high cost of materials
and supplies and the Increased
cost
of labor, without a proportionate
Increase In the selling price of trans¬
portation, have limited tne opportunity, under
existing oondltlons, to fur¬
ther Improve net results.
Increasing the volume of business and a furt 'ear
Improvement In operating efficiency. The
company
has, during the year,
met the expectations of Its
employees In respect of Increased wages.
Investment Adjustments.—The Investment for road
was increased during
the year $116,94$, qrt account of
bridges, ballast, sidings, Ac. The
In¬
vestment for equipment was increased
$4,513,453, due to “cost of equip¬
ment In service June 30
1910, in excess of amount charged to
property
Investment, $4,740,676,’: and new
acquired during tne year.
$6,103: Jess equipment retired fromequipment
service during the year,
$238,326.
The adjustment of the
equipment
account
to
basis
of cost value resulted
In a credit to profit and loss
of $2,231,494 and an
Increase
in
reserve
for
accrued depreciation, as compared with the
previous year, amounting to
$2 736,172. This reserve account
represents the accrued depreciation oh
pment In service at June 30 1910,
To this account will be charged
ness
a
Oct. 29
THE CHRONICLE
1910.]
depreciation on equipment as It is retired from service, thus obviating
charges to profit and loss therefor.
Bonds, Ac.—There was no change In the funded debt.
The equipment
obligations were decreased $708,170, and on June 30 1910 amounted to
$3,980,082.
Maintenance.—The charges to maintenance of way and structures in¬
creased $109,934, or 9.96%.
The principal Increases were In roadway
and track, ballast, ties, rails and other track material.
New steel rail laid in track aggregated 2,449 tons (60-Ib., 526 tons; 85-lb.,
1,923 tons), or 19.97 miles, as compared with 2,763 tons, or 20.69 miles,
for 1908-09.
There were 672,644 ties used In renewals, an Increase of
35.70%; average number of ties used for renewals per mile of track main¬
tained was 538, as against 391 for the preceding year. Milesof ballasted track
at June 30 1910, 653, or 70.63% of total main track mileage maintained.
The charges to maintenance of equipment were $470,913. or 32.89%,
in excess of similar charges for the previous year.
The average charges
for repairs were:
Per locomotive, $2,023. an Increase of 15.09%; per
passenger-train car, $745, an Increase of 28.84%; per system freight-train
car, $71 76, an Increase of 82.18%
The following equipment Is subject to equipment liens:
(out of 263), 26 passenger-train cars (out or 126), 6,399
(out of 10,818) and 50 road-service cars (out of 501).
119 locomotives
freight-train cars
1909-10.
1908-09.
1,114
Operations—
1,114
1907-08.
926
1,747,251
1,517,574
1,546,913
58,493,588
51,890,286
50,746,356
2.341 cts.
2.389 cts.
i_
2.293 cts.
5,911,133
5,217,311
4,902,850
L. 296,573,850 1147808,670 1126000,165
.
.
312
0.621 Cts.
282
0.631 cts.
280
$9,545
$8,730
$10,182
0.600 cts.
_
_ _
ACCO UNT.
Operating Revenues—
.
.
.
Other revenue from operation.
.
Operating Expenses—
_
.
Traffic expenses
_
Transportation ea
_
General expenses
_
.
Outside operations—net deficit.
Net revenue
Taxes accrued
.
1909-10.
1908-09.
1907-08.
$
7,776,053
1,341,263
1,445,647
73,770
$
7,128,687
1,214,599
1,319,692
64,749
$
7,108,975
1,212,518
1,259,250
83,048
10,636,733
9,727,726
9,663,791
1,213,403
1,902,634
370,860
8,528.735
1,103,469
1,431,721
335,399)
3.359,943]
Operating Income
_
...
Rents, Ac., received
Income from Investments
.
Deductions—
Rental St. L. & Cairo RR_.
Other rents
Hire of equipment—balance.
Miscellaneous
359,116
352,490
7,410,967
3,225,766
30,643
6,589,648
3,138,078
30.633
6,874,990
2,788,801
21,010
3,195,123
3,107,445
241,469
2,767,791
226,469
2,902,902
86,273
143,607
2,865,976
79,632
122,975
Dividend on capital stock—
Additions and betterments
3,068.584
2,715,772
491,805
461,198
457,566
423,177
221,205
130,643
1,198,880
199,676
(5)301,030
19,446
459,063
241,025
11,004
126,733
(4)240,824
150,696
2,951,623
116,961
2,641,372
74,400
159,362
1,198,880
158,985
.(4%)242,824
28.431
—
Total deductions
Balance, surplus
_
2,541,322
26,986
147,464
3,132,782
109,966
..
1,174,709
1,470,162
3,877,628
395,334
292,221
2,861,451
281,331
‘
1909.
1910.
231,897
1909.
S
$
Liabilities—
«
$
Road and equlp.nSS .412,124 33,517,900 Stock issued
6,070.600 6.070,600
Stock
in
Co.'s stock in treas. 1 ,659,400
1,659,400
treasury. 1,659,400 1,659,400
Securities In trust. 2 .177,900 2,177,900 Bonds (see “Ry. A
Miac. securities in
Ind." Section).24,772,000 24.772,000
treas. unpledged
232,319
233,317 Car trusts
2,980,082 3,688,252
Pay-rolls, vouchers
Property and se¬
A mlsc. accts... 2,053,501
curities pledged. 1 ,776,094
1,776,094
1,939,994
Real estate
97,895
114,555 Bills payable
417.466
904.515
Int.
and
286,385
162,373
dividends
Cash
Due trom railroads,
due and unpaid.
259,111
168,524
Int. accr’d.not due
320,415
333,580
agents,ind., Ac.,
and mlsc. accts. 1 ,665,422
1,443,050 Reserves
262,476
119,791
687,390
170,142
Material, fuel, Ac.
515,354 Appropriated surp. b 198,574
Profit and loss
c4,604,842 2,168,607
Assets—
„
...
Total
43,994,929 41,598,943
Total
43,994.929 41,598,943
a After deducting $2,949,210 In 1910 for reserve for accrued deprecia¬
tion of equipment, against $213,038 In 1909.
b Appropriated surplus represents additions to property since June 30
1907, through Income.
c After adding results of operations of land department, $142,416, and
adjustment of equipment to basis of cost value, as of June 30 1910, $2,231,494, and deducting sundry miscellaneous Items, $219,005.—V. 91, p.1026.
Cripple Creek Central Railway.
{Report for Fiscal Year ending June 30 1910.)
Pres. Henry M. Blackmer, Sept. 27, in substance:
General Results.—The Income of the company applicable to dividends for
the fiscal year ended June 30 1910 shows a decrease of $26,619 as compared
to the previous year.
The gross revenue of the various railroad lines controlled was $668,255,
being a decrease of $63,879, as compared with the previous year. This
decrease was chiefly due to the fact that many mines suspended active
operations, pending the completion of the drainage tunnel. Decrease In
ore tonnage for the year amounts to 11%, and decrease In revenue from
such tonnage to 13
showing a slight decrease In values of ore shipped.
Opr passenger revenue shows a slight decrease compared to the previous year.
The regular annual dividend of 4% has been maintained on the pref.
stock, ana $35,090 has been passed to surplus.
In addition, the net In¬
crease In the surplus of the underlying companies was $9,628. The company
.
had on deposit in cash on June 30 1910, $160,274. During the year $12,000
Midland Terminal bonds were purchased out of earnings for the sinking fund,
reducing the bonds now outstanding to $383,000, this being the only out¬
standing bond issue of any of the underlying companies. Neither this
company, nor any of the underlying companies, has any floating debt.
Physical Condition.—The condition of our road-bed and track Is practi¬
cally the same as last year; a large number of ties ha1; been renewed, and
sufficient track work bas been done to keep It up to the regular standard.
Two long wooden bridges have been filled with waste rock, and the remain¬
ing bridges are in gooa condition. The equipment is all in first class condi¬
tion.
Drainage Tunnel.—The Cripple Creek drainage tunnel Is now practically
completed to a point which will shortly bring about the unwaterlng of the
McKinney, Elkton, and some other mines/ The main tunnel
wfil he driven about 1000 feet further, where it is expected to strike the
mefn water course at great depth. It wiU probably be from four to six
months before this will be fully completed.
El Paso, Mary
Canon City & Crip.Ck.RR.
Midland Terminal
10,500
2,327
3,528
Colorado Trad. & Transfer
$88,355
$163,355
Total
Total of all
$87,154
$101,000
$188,154
$75,000
INCOME ACCOUNT.
1909-10.
$
163,355
6,957
Net Income (as above)
Other Income
1908-09.
$
1907-08.
Exps. New York Office-
Preferred dividend
Common dividend
;
surplus
Surplus previous year.
1906-07.
$
$
188,154
7,581
214,902
7,154
282,790
195,735
14,026
15,221
(4)120,000 *(6)180,000
222,056
13,869
(3)75,000
292,845
14,775
(4)120,000
(6)150,000
148,869
73,187
97,812
284,776
8,069
C89.743
170,312
Total income
135,221
35,090
172,615
.
(2)60,000
194,026
1,709
0170,906
10,055
Total surplus
207,705
172,615
170,999
97,812
After deducting (b) $94 for adjustments during the year and (c) $315
accrued Interest.
*
The preferred dividends as above In 1908-09 include 3% paid Sept. 1
1908 for the 9 months ending June 30 1908 and 1% each paid Dec. 1908
and March and June 1909; in 1907-08 1% each paid July and Oct. 1907.
—Midland Terminal—
—Flor. A Crip. Creek—
1908-09.
1909-10.
1908-09.
1909-10.
Railroads—
$
$
$
$
Gross Income
430,914
236,503
260,093
470,898
154,871
174,652
Operating expenses
302,866
323,901
earnings.
128,048
146,997
81,632
85,441
Other income..
498
689
341
454
128,546
60,000
1,500
1,059
•31,467
5,104
14,267
147,686
60,000
1,500
1,080
37,958
5,101
11,016
81,973
19,630
1,800
85,895
20,269
1,800
Net
Total Income
Interest on bonds
Other Interest
Rents of tracks, Ac...
Rental leased lines....
Hire of equipment
Taxes
”
"3",623
Total deductions....
Balance
Surplus preceding years.
Profit and loss adjust—
Total surplus June 30.
113,397
15.149
591,086
606,235
2,747
5,941
12,841
(5^)55,000 (1)10,000
7,692
11,674
(3)30,000
Dividend
581
571
Sinking fund
146.655
1,031
593,196
Dr .3.140
99,990
def.18,017
940,959
11,412
64,179
31,716
896,882
12,361
591,086
934.354
940,959
•Includes Golden Circle, $15,712 and Canon City A Crip. Cr., $15,754.
COLORADO TRADING A TRANSFER COMPANY.
1909-10.
GrosseamingB...... $631,565
Net Income
17,032
Surp. previous year.
21,930
1909-10.
1908-09.
$671,920 Dividends
31,823
29,653
1908-09.
(10)20,000 (20)40,000
455
Miscellaneous
Total
$38,962
$61,931
Tot.
sur.
June 30.
$18,962
$21,931
CRIPPLE CREEK CENTRAL RY. CO. BALANCE SHEET JUNE 30.
1,180,130
GENERAL BALANCE SHEET JUNE 30.
1910.
Receipts from—
-1908-09Int. on
Dividends
on Stock.
Bds., Ac.
$61,500 (3%) $30,000
10,500
(6%) 10,500
10,500
(6%) 10,500
(5H%) $55,000
2,145
(1%) 10,000
(10%) 20,000
2,509 (20%) 40,000
Florence & Crlp.Crk.RR.$61,5O0
Golden Circle RR
10,500
Balance,
.
Average revenue train-load (tons)
Gross earnings per mile
-1909-10Int. on
Dividends
on Stock.
Bds., Ac.
Total
OPERATIONS, EARNINGS AND CHARGES.
Total miles operated
1157
1910.
$
1909.
1910.
$
*
1909.
$
Liabilities—
Assets—
$
Preferred stock
Stocks, bonds, Ac.,
3,000,000 3,000,000
(V. 81, p. 1488)..5,435,908 5,432,158 Common stock
2,500,000 2,500,000
Due from sub. cos
1,356
2,372 Amounts to credit of
Cash
160,274
120,604
underlying cos
*2,120
4,859
Dividends unpaid...
Deposit with Kessler
3,302
3,302
A Co., of doubtful
Surplus
207,705
172,615
value
115,590
125,641
Total
*
5,713,128 5,680,776
Total
5,713,128 5.680.776
Includes Flor. A C. C. RR., $670 and Mid. Term. Ry., $1,450.
FLORENCE A CRIPPLE CREEK RR. BALANCE SHEET JUNE 30
1910.
Assets—
$
Road A equipment..2,599,350
Due from individuals,
companies, Ac...
Due from agents and
8,292
conductors
Materials A supplies.
Cash..
t
Traffic balances
918
23,670
8,658
47,809
Cripple Creek Central
Railway Co
670
Miscellaneous
1910.
1909.
IAabUUies—
$
1909.
$
$Z
1,000,000 1,000,(
2,599^350 Capital stock
Firstmtge. bonds... 1,000,000 1,000/
6,279 Vouchers A pay-rolls
Traffic balances....
22,722
2,950
25,000
6,000
5,262
12,400
464 Notes payable
21,356 Mid. Term. Ry
12,526 Accrued taxes......
22,496 Rental accounts
Rail renewal...
3,670 Equipment renewal.
4,099 Miscellaneous
Profit and loss
3,886
6,175
-
10,380
2,303
606,235
6,947
2,815
591,086
Total
Total
....2,693,253 2,670,241
2,693.253 $.670,241
MIDLAND TERMINAL RY. CO. BALANCE SHEET JUNE 30.
1910.
1909.
Assets—
$
$
Road A equipment. .2,353,798 2,351,624
Due from railroads
and Individuals
39,636
34,083
Due from agents and
conductors
887
1,349
Materials A supplies.
9,187
30,900
256
618
Sinking fund accts..
Cash
9,932
15,654
Crip. Crk. Cent. Ry.
450
1,450
Flor. A Crip. Cr. RR.
6,000
Canon C. AC.C. RR.
3,000
Golden Circle RR
3,000
1910.
$
1909.
$
Capital stock
1,000.000 1,000,000
395,000
383,000
31,753
33,630
18,202
30,184
375
376
10,000
10,000
5,945
3,818
Equipment renewals.
24,000
Equip, lease warrants 24,000
C. C. drainage tunnel
438
438
Accrued int. A taxes.
7,326
6,977
3,325
Rail, Ac., renew, sus.
Bills in suspense
2,527
934,354
940,959
2,395 Profit and loss
*
Miscellaneous
Liabilities—
2,408
First mortgage bonds
Vouchers A pay-rolls
Traffic balances
First mtge. coupons.
Notes payable
Total
Total
2,429,554 2,437,072
2,429,654 2,437,072
GOLDEN CIRCLE RR. AND C. C A C. C. RR. BALANCE SHEETS JUNE 30 1910.
Golden
C. C. A
Golden
C.C.A
Assets—
Circle.
Liabilities—
C. C. RR
Circle.
C. C. RR.
Road and equipment $350,000 $350,000 Capital stock
$175,000 $175,000
Florence A Cripple
First motgage bonds. 175,000
175,000
Creek RR
7,194 Taxes, vouchers, Ac.
7.179
2,027
2,054
C. C. Central RR
131
109
Mid. Term. Ry
3,000
3,000
“
'
Profit and loss
Total
-V. 89. p. 1409.
$357,179
$357,194
Total
2,021
2,031
$357,179
$357,194
Michigan United Railways Go.
(Report for Fiscal Year ending April 30 1910.)
The report, signed bv J. Peyton Clark, Vice-President,
under date of Jackson, Mich., July 15, says in substance:
General Results.—The total gross income for the period was $1,248,889.
Increase over the year 1908-09 of $222,093, or 21.68%; operating Vipenses. I6&4.2H; Increase, $116,068, or $0.4%; net income, $364,$73; In¬
crease, 1106,035.
The taxes and Interest on the bonds of the constituent
companies was $199^36, an increase pf $7,227, which was fffiely fit the ty*
an
1158
item.
TH
The interest
CHRONICLE
Michigan United Railways bonds outstanding on
May 1 1910, chargeable to operation, was $167,500, so that for the entire
year the company earned
considerably more than twice its bond interest.
on
New Line—Operation of Entire System.—The road
between Lansing and
Jackson was fully
completed and operation Installed on Nov. 5 1909, so
that for six months ending April 30 1910 the
company had the full benefit
of the complete operation of all Its lines.
The Increase in earnings, there¬
fore, during this six months is the first real test of the earning power of
your property, for the reason that until said
line was put in operation,the
interest on the securities Issued to
pay for its cost was charged against the
property without any revenue therefrom.
(See also news Item on a sub¬
sequent page.—Ed.)
Oross Earns.—
Nov.
Dec.
Jan.
Feb.
Mch.
April.
1909-10
$98,341
$98,026
$93,581
$89,831
$103,273
$109,418
1908-09
75,847
77,057
74,695
67,017
76,555
76,517
Increase.
22,494
20,968
18,885
22,814
26,718
32 899
Percent
29.6%
27.2%
25.3%
34%
34.9%
43%
Improvements and Extensions.—The company spent in city extensions
and various improvements during the year $495,612.
It expended on the
Lansing & Jackson, in addition to the cost provided, the sum of $144,677,
and it Is due to these expenditures that the
very large increase In revenue
Is being made from the various city systems owned
by this company.
Extensions, Imprts., &c., Aggregating $783,699, Added to “Cost of Prop.'
City lines: Lansing, $87,373: Jackson, $114,280; Battle Creek,
$50,163;
Kalamazoo, $66,433
.$318,249
Interurban lines: Lansing-St. Johns, $5,117; Lansing-Jackson,
$45,974; Jackson-Battle Creek, $81,976;
Kalamazoo-Battle
Creek, $44,296
177,363
Total of above extensions and additions
$495,612
Excess cost of Lansing-Jackson (over amount
provided)
144,677
Interest on bonds and loans
66,375
Additions and betterments previous fiscal year carried forward-_
77,036
Bonds.—During the present fiscal year bonds were Issued to the amount
of $600,000 for betterment purposes, so that the total amount
expended is
$183,699 in excess of the bonds issued.
'
Contemplated Outlays.—A new line to the large shops of the Grand Trunk
Ry. at Battle Creek is now under construction and will soon be in operation.
A further line is proposed in the same city to the “Post
Addition”; also a
double track on Washington Ave., Lansing, and some new track In
Kala¬
mazoo.
The above, together with 30 new city cars and four
interurban
cars, to provide for the rapid Increase In travel, are the
contemplated im¬
provements for the present year.
Their nature Is such that they should
produce a revenue largely in excess of the interest upon their cost.
Growth of Earnings.—We would call attention to the remarkable
growth
of earnings during the last four years in
comparison with the earnings for
the year ended April 30 1906, the year
prior to the organization of this co.
Gross Earnings and Income and Increase Over Previous
Year.
Yrs. end. Apr. 30. 1905-06.
1906-07.
1907-08.
1908-09.
1909-10.
Gross earnings...$649,872
$729,607
$781,964
$1,026,796
$1,248,889
Increase
79,735
52,356
244,833
222,0P3
Percent
12.27%
7.18%
31.3%
22.35%
Proposed Purchase—Construction.—In our last annual report the
purchase
of an additional property was referred
to, and the proposed construction of
a line which would connect this
system therewith.
It was deemed advisa¬
ble, however, to wait until such satisfactory showing of
earnings should be
made on the properties as would justify their
being taken into the system,
and that in the meantime the
purchase and construction be financed by
interests friendly to the company, without this
company incurring any lia¬
bility In connection therewith. The line between Pine Lake and the
city
of Owosso has accordingly been more than half
completed, and, together
with the city line in Owofso and Corunna, will become a
feeder for your
system and later, upon satisfactory terms, may become part of
your com¬
pany.
RESULTS FOR YEARS ENDING APRIL 30.
1909-10.
1908-09.
$1,153,868
$946,571
36,933
28,624
42.637
45,933
Gross revenue
$1,233,438
$1,021,128
Income from securities, Ac
15451
5,668
Total
$1,246,389
$1,026,796
Operating expenses
684,216
568,157
Total net income,
$564,673
$458,638
Deductions—
Taxes
$33,736
$26,584
Interest, on bonds of constituent cos_.
159.500
159,425
Interest on Michigan United Rys. bds.
167.500
119,882
Deferred dividends (6%)
60.000
60.000
Earnings—
Passenger
Freight
Express, milk, baggage and miscell
1907-08.
$862,074
,
29,136
50,793
._
$942,003
1,321
$943,324
521.728
,
$421,596
—
Total deductions
Balance, surplus
Assets—
Franch. A prop.a.1
Advanced contrac¬
tors for new work
Bond sales aec’t..
Material and supp.
Sundry debtors
Prepaid accounts.
Sink. fd. Invest...
Cash on hand, Ac.
Cash In sink. fund.
$25,620
157,100
80,000
6 0.000
$420,736
$360,891
$143,937
$92,747
BALANCE SHEET APRIL 30.
1910.
1909.
1910.
$
$
Liabilities—
$
,599,978 10,593,885 Common stock
6,000,000
Preferred stock
1,000.000
72,788
255.353 Bonds
£_ 4,395,000
<d)
635.956 Sundry creditors.. *294.532
107,311
53,860 Accr’d bd. Interest
42,083
136,604
21.849 Profit and loss....
397,415
3,930
4,157
116,000
66,000
91,529
34,773
890
24,802
1
$322,720
$98,870
1909.
$
6,000,000
1,000,000
3.795.000
<e)
42.083
203,552
12.129.030 11.090,635
Total
12,129,030 11.090.635
a Includes in 1910 additions and
betterments. $783,699: total. $14,789,978; less
fixed charge Indebtedness. $3,190,000. 6 Includes bond
sales account, $435,000,
less sundry creditors, $399,044.
c See foot-note 6.
d See foot-note e.
e includes
sundry creditors, $589,531, less bond sales account. $295.000.—V.
91, p. 1026.
Wells
says:
The railroad mileage covered by the
company’s contracts June 30 1910
amounted to 46,803 miles: the stage, inland
steamer, coastwise and ocean
steamship mileage aggregated 14,166 miles; making the total
mileage
operated 60,919 miles.
The agencies on same date
totaled 5,095, and
employees (exclusive and joint) numbered 15,002.
There was a decrease in railroad mileage
operated during the year, due
to the termination of contracts Jan.
1, March 1 and May 1 1910 that failed
of renewal, for the reason that the several
lines had passed under the con¬
trol of railroad systems which had contracts with
other express companies
On Sept. 1 1909 the company withdrew from
the Mexican Central
Ry.
and other lines in Mexico under the control of
the Government, in favor of
Compania Mexicana de Express, a company organized
jointly by the
Mexican railroad companies and your
company to transact the express
business over the Mexican lines.
The Mexican Express Co. covers
prac¬
tically all railroad lines in Mexico. While the express
earnings of your
company are reduced by this change, the profits from the
investment
in
the Compania Mexicana de
Express will show an Increase in revenue from
other sources which it is estimated will
offset the decreased express earnings.
The lessened mileage affects both
gross and net earnings from Jan. 1
1910,
while the gross earnings on lines
operated have shown a fair increase.
The demands and rulings of
the several State organizations which
by
statute are given supervision of
express traffic so far have not contributed
to the revenue of the
company; on the contrary, in each instance added
to the costs of
transacting its business.
By a unanimous vote of the shareholders at their
meeting held Dec. 22
1909, the capital stock was increased
from $8,000,000 to $24,000,000.
(V. 89, p. 1355, 1674.)
INCOME ACCOUNT.
-
Gross receipts from express.
Total disbursements
Net express earnings
Net earnings other sources
Total
net
Income...
Years end. June 30—
Year end.
1910.
1909.
July 31 ’08.
.$27,303,702 $24,476,432 $22,945,468
.
-
-
.
?4,120,227
$3,183,475
1,641,066
$4,824,541
21.213,953
$3,262,479
1,401,900
$4,664,379
ucxxxi
BALANCE SHEET JUNE 30.
1909.
1910.
1909.
Assets—
$
$
Liabilities—
$
$
Realest. & bldgs. 4,411,230 4,001,483 Capital
stock
23,967,400 8.000,000>
Equipment
2,309,566 2,044,551 Reserve
19,701,575
Stocks
3,756,507 3,211,087 Real est. reserve..
252,127
220,025*
Bonds
4,183,762 3,750,287 Refrigerator car re¬
Misc. invests
.:
43,12 »
placement
33,048
16,040
Due by agents
2,390,803 1,447,978 Acc. taxes not due
62,295
17,303
Cash A cash Items 4,543,364
Div.
5,459,757
pay. July 151 1,218,855
J 400,000
Loans
10,967,819 17,165,142 Unclaimed divs.. j
1 20,453
Materials A supp,
107,555
58,991 Unpaid money or¬
Unexpired Insur..
40,332
23,120
ders, checks, Ac. 1,608,938
1,450,078Individuals A cos.
192,710
684,683 Agents’ drafts
66,580
Traffic balances
39,113
41,585 Express privileges 2,134,032 2,133,370
Interest and divi¬
Traffic balances
182,718
103,272
dends accrued..
636,482
Sundry creditors.
939,319 1,072,694
Profit and loss
3,657,055 4,753,843
1910.
.
.
..
_
Total
—V. 91, p.
34,122,367 37,888,662
1098. 1040.
Total
34,122,367 37.888,662
United States Steel Corporation.
{Earnings for Quarter and
following statement
The
Nine Months
ending Sept. 30.)
of the corporation and its sub¬
sidiaries for the quarter
ending Sept. 30 was given out on
Tuesday after the regular monthly meeting of the directors.
The “net earnings” as here shown were
“arrived at after
deducting each month the cost of ordinary repairs and main¬
tenance of plants,
employees’ bonus funds and interest on
bonds and fixed
charges of subsidiary companies.”
UNFILLED
ORDERS ON HAND (iCompare V.
91, p. 1098,
Tons.
721, 407)
Tons.
Tons
Sept. 30 ’10..3,158,106 Sept. 30
June 30 ’10..4,257,794 June 30 ’07..6,425,008 Sept. 30 ’04..3,027,436
June 30 ’04.-3,192,277
’07..7,603,878
Mch. 31 ’10..5,402,514 Mch. 31
Dec. 31 ’09_.5,927,031 Dec. 31 ’07..8,043,858 Mch. 31 ’04..4,136,961
’06..8,489,718 Dec. 31 ’03.-3,215,123
Sept. 30 ’09..4,796,833 Sept. 30 ’06. .7,936,884
Sept. 30 ’03_.3,278,742
June 30 ’09__4,057,939 June 30
June 30 ’03..4,666,57ft
Mch. 31 ’09.-3,542,595 Mch. 31 ’06.-6,809,589
’06..7,018,712
Mch. 31 ’03.-5,410,719
Dec. 31 ’08.-3,603,527 Dec. 31
’05..7,605,086 Dec. 31 ’02.-5,347,253
Sept. 30 ’08.-3,421,977 Sept. 30 ’05..5,865,377
Sept.
30 ’02.-4,843,007
June 30 ’08.-3,313,876 June 30
’05.-4,829,655 June 30 ’02_.4,791,993
Mch. 31 ’08__3,765,343 I Mch.
31 ’05.-5,597,560 Nov.
1 ’01-.2,831,692
Dec. 31 ’07. .4,624,553 I Dec.
31 ’04.-4,696,203
RESULTS FOR QUARTERS ENDING SEPT.
30.
1909.
$
Net earnings
37,365,187
Deduct—
Sink, funds on bonds of subsid. cos..
760,907
Deprec’n and reserve funds (reg. prov) 5,555,555
Int. on U. S. Steel Corp. bonds
5,824,146
Sink, funds on U. S. Steel Corp. b’ds.
1,487,816
1908.
$
38,246,907
27,106,274
506,717
6,885,171
5,885,900
1,426,062
436,675
5,359,182
5,946,809
1,365,153
14,703,850
13,107,819
13,998*455
6,304,919
,
Balance
Dividend on pref. stock (1 H%)
Dividend on common stock
13,628,424
23,736,763
6,304,919
(1 M) 6,353,781
Surplus for the quarter
On account of expenditures made and
to be made for additional
new
property,
plants, construction, Ac
23,543,057
‘6,304,919
(1)5,083,025(H)2,541,513.
11,078,063
12,155,113
7,500,000
10,000,000
5,152,023
Balance of surplus for quarter
3,578,063
2,155,113
5,152^023
NET EARNINGS FOR NINE MONTHS ENDING
SEPT. 30.
1910.
$
January
February
March
First quarter
April...
May.
June
Second quarter
July
August
September
Third quarter
Total nine months
1909.
$
1908.
$
1907.
$
11,316,014
11,616,861
14,684,001
7,989.327
37,616,876
13,414,956
13,229,289
13,526,715
22,921,268
8,163.244
9,661,228
11,516,019
18,229,005 39,122,492
6,761,680
14,600,838
6,021,279
16,056.832
7,482,797 .14,846,035
40,170,960
12,132,188
13,132,755
12,100,244
29.340.491
12,530,770
12,437.754
13,278,383
20,265,756
7,262,605
5,052,743
5,709,428
7,669,336
12,838,703
12,145,815
14,137,974
7,466,834
45,503,705
13,804,167
15,279,173
14,720,945
8,599,630
9,152,311
9,354,333
37,365,187
115,153,023
38,246,907
27,106,274 43,804,285
90,508,666
65,601,035 128,430,482
INCOME FOR NINE MONTHS TO SEPT. 30.
1910.
1909.
1908.
1907.
$
$
$
$
Net earnings
115,153,023
90,508,666 65,601,035 128,430,482
Deduct—
Total
Fargo & Co. (Express), New York.
(Report for Fiscal Year ending June 30 1910.)
Managing Director F. D. Underwood, Oct. 13 1910,
Vat,
20,364,832
$2,580,636
1.498,182
$4,078,818
Sinking funds
6,151,379
Deprec’n A reserve f’nds 16,954,736
Spec’l Imp. A replac’t f’d
5,484,264
15,859,837
4,743,787
10,430,570
17,550,121
20,000,000
17,736,970
10,000,000
17,920,294
60,656,236
54,496,787
49,081,071
41,427,595
33,094,651
32,506,384
Interest
Construction, Ac__
Total deductions
Balance
Dividends—
Preferred 5H%
Common
5,303,401
16,513,296
3,000,000
16,981,122
48,000,000
89,797,819
38,632,663
18,914,757
18,914,757 18,914,757
18,914,757
(3 %)19061343(2 Ji)11436807(l H)7624539(l H)7624539
Total dividends
37,976,100
Undivided earns., 9 mos. 16,520,687
—V. 91, p. 1098, 809.
30,351,564
11,076,031
26,539,296
5,967,088
26,539,296
12,093,367
Pullman
Company.
{Report for Fiscal Year ending July 31 1910.)
RESULTS FOR FISCAL
1909-10.
Passengers carried (No.) Not given.
Total revenue
Disbursements—
YEARS.
1908-09.
1907-08.
Not given.
18,603,067
1906-07.
18,020,379
$38,880,805 $33,801,155 $31,620,241 $32,186,013
Operating expenses...^$20,839,570 $18,517,341 $18,001,759 $17,388,741
/ 3,761,502
cars. Ac
3,794,323
3,362,238
2,421,597
Deprec’n of
Paid other sleeping car
associations
8% dlv.
on
346,236
capital stock *8,798,996
541,290
7,999,070
467,320
749,342
7,998,356
•7,476,87ft
Total disbursements..$33,746,304 $80,852,024 $29,829,673 $28,036,559
Surplus
$5,134,501
•Also in Nov.
surplus.
V. 90,
$2,949,131
$1,790,568
$4,149,455
06, 36% in stock,and In April 1910, 20%,to distribute
p.
506, 854.
BALANCE SHEET JULY 31.
1910.
$
Assets—
Cars, real est. A
oper. supplies 80,086,634
Cash
13,752,450
Securities
Mfg. dept
9,261,439
23,251,374
Accts. receivable 9,637,776
Total
1909.
$
73,363.976 Accts. payable.
11,618,522 Res. for dep’n A
5,383,741
3,860,706
10.559.895
adjust’t accts. 10,091,244
23,251,374 Surplus July 31.
614,687
3,871,706
8,808,849
9,995,919
135,989,672 122,665,473
—V. 91, p. 280, 167.
1910.
1909.
Liabilities—
ft
ft
Capital stock... 120,000.000 100,000,000
Total
136,969,679 122,665.473
Oct. 29
THE CHRONICLE
1910.]
Edison Electric
h H. J. J. M. Co. debenture bonds, $133,000;
Illuminating Co. oi Boston.
x
(Report for Fiscal Year ending June 30 1910.)
Edgar says in substance:
(2) $1,000,000 Hecker-Jones-Jewell Milling Co. of New York (out of $1,000,000)1
valued at $3,537,105.
Connected Load.—The following table shows the number of Incandescent
lamps, arc lamps, horse-power in motors, as
years:
Number of Lamps and Motors Connected
Acr
Motor
Incand.
Motors'
Incand.
Arc
Lamps. lH.P.)
June 30— Lamps.
Lamps. (H.P.) June 30— Lamps.
9,867
39,422
938,670
1910
10,919
57,094 1908
1,432,407
863,313
10,339
35,096
1909
1,040,613
9,282 44,066 1907
compared with previous
v
Total Load Connected
f
.
miscellaneous, $4,335.
(1) Hecker-Jones-Jewell Co. of New Jersey 1st M. 6s, $1,052,000 (out of $2,500,*
000 at par).
President Charles L.
o
1159
T
(in 50-watt Equivalents) June 30.
1909.
1906.
1908.
1907.
1,803,803
1,360,909
1,638,544
1,503,478
Acquisitions.—Of the increases here shown for the late year, 249,498 in¬
candescent lamps, 1,069 arc lamps, 2,715 2-8 h.p. in motors and 301,959
total load connected were added by the purchase of the electric properties
of the Boston Consol. Gas Co., the Newton & Watertown Gas Light Co., the
Waltham Gas Light Co., the Chelsea Gas Light Co. and the Lexington Gas
& Electric Co.
The remainder, namely 142,296 Incandescent lamps, 56 »
arc lamps, 10,312 6-8 h. p. in motors and 303,164 total load connected, repre¬
sents the natural growth of the company for the year, and is by far the
greatest in its history, being nearly double that of any preceding year.
Decrease in Rates—Dividends Raised.—Foreseeing the increased earnings
which would follow these acquisitions, a reduction in the price of electricity
from 12c. to 11c. per k. w. hour was made on Jan. 1 1910 and an increase in
the regular dlv. from 2J4% to 3% quar. was made on May 1 1910; the
extra dlv. of 1% paid in August in previous years being discontinued.
1910.
2,408,926
Accounting.—It has been thought desirable to change the
correspond with the report required by the State
Commission.
For the first time, therefore, expenses are made up without
incl. deprec.,not only for current year but,for sake of comparison, for 1909.
Power Plants.—The electric generating station of the Boston Consol. Gas
Co., located on Cambridge St., Allston, was in March 1910 replaced by a
The Newton &
sub-station on Commonwealth Ave. and dismantled.
Watertown Gas Light Co. and the Chelsea Gas Light Co. have for a number
of years been purchasing our electricity* the old power-house of the former
Change in
method of accounting to
has been dismantled and sold back to the Newton Co., and the power station
of the Chelsea Co. has been made a sub-station.
The old engine station of
the Waltham Gas Light Co. has been discontinued and a sub-station has
been equipped in the turbine room, the turbine being kept in reserve.
The sub-station on Homer St. has been much enlarged to accommodate
the work thrown upon it by the contract with the Newton & Boston St. Ry.
Co.
The construction of the transmission line to Medfield has been com-
Sleted since the close of the fiscal year; a new sub-station is under construc-
on and will be in operation by Nov. 1. when the Medfield station will be
dismantled.
The electric property of the Lexington Gas & Electric Co.
having been purchased, that district is now supplied from the L St. station;
the local generating station has been dismantled and sold back to the Lex¬
ington Co., which is to continue in the gas business under another name.
Owing to the growth of your company, a contract was entered into with
the General Electric Co. for another turbine, to be ready for operation In
the fall of 1911.
This “turbo generator” will have a capacity of 14,000 k.w.
and at the time of its installation will probably be the largest in the world.
Financing.—As referred to in the last report, the purchase of all these
electric properties, except the Lexington, was temporarily financed by
notes.
Acting under authority granted at the last annual meeting, 19,452
shares of capital stock were offered to the stockholders at 5215 per
share, and, except 177 shares, were all taken by them.
The Commission
also gave its permission to issue sufficient shares to produce, when sold at
auction, an amount equal to the price paid for the electric property of the
(3) Northwestern Consol. Milling Co. com. stock, 42,916 shares* yataed at $1^
229,546.
(4) Duluth-Superior Milling Co. stock, $250,000 (total amount!, at par.
(5) Southwestern Milling Co. stock, J,000 shares (total amt.;, valued at $389 413,
(6) Hecker Cereal Co. stock, $10,000, at par.
(7) Daisy Roller Mills stock. $100,000, at par.—T. 91, p, 877.
American Type Founders Co.
(Report for Fiscal Year ending Aug. 31 1910.)
President and General Manager Robert W. Nelson, Oct. 14
1910, wrote in substance:
General Results.—During the year just closed the company’s sales in¬
creased each month over the corresponding month of the previous year,
except July, when the sales fell a little behind those of July 1909.
A gen¬
eral reaction in business during July was apparent in nearly all industries,
and ours suffered somewhat during that month.
In August our business
improved, showing a moderate Increase over August 1909 and September
also shows an increase over September of last year.
Indications of good
business during the coming winter are very satisfactory.
The net profits for the year show a moderate increase over the previous
year, being $323,082 for this year as compared with $306,759 for the year
1909, and this notwithstanding a lower range of prices for goods manu¬
factured by the company and the large expense caused by the removal of
foundries from their former locations for consolidation at the central plant.
This consolidation has now been completed, and it has already resulted in
large economies and vastly better service to its customers.
The disturbance in the trade, which was referred to last year, has con¬
tinued, and prices are now somewhat lower than they were at any time
during the past year, and considerably lower than they were a year ago.
While lower prices decreased the per cent of gross profit on the mer¬
chandise sold, they lessened competition and increased the volume of our
business. The prices of metals were extremely low during the past year,
and the company in consequence purchased and is now carrying large stocks
of
raw
materials.
Additions.—During last year the company completed another Important
addition to its plant and is now erecting buildings with over 25,000 square
feet of floor space.
The addition now being erected rounds out the original
plans prepared when the central plant was started seven years ago, and its
completion will meet the growing requirements of the company for some
years to come.
This company,
which is the largest type foundry organization in the
world, has still further increased its prestige as the originator and leader of
type fashions, and its faces and products are in use In every civilized com¬
munity the world over.
RES ULTS FOR YEARS ENDING A WG UST 31.
1909-10.
1906-07.
1908-09.
1907-08.
Net earnings
Common stock
Preferred stock
div., 4%
div., 7%
Lexington Co., namely $120,000. This stock, together with the 177 shares
over from the larger issue, is still in the treasury awaiting a favorable
opportunity for sale by auction.
With the proceeds of the stock already disposed of, all floating debt has
been discharged, and there seems no reason to Increase the capital stock
during the coming year.
STATEMENT OF OPERATIONS ENDING JUNE 30.
left
1908-09.
S
1909-10.
$
..4,709,456 4,111,343
Gross earnings
Exp. (excl. depr'n).2,107,228 1,770,956
Net from oper
2,602,228
Miscellaneous profits
80,202
Total
2,340,387
45,360
1908-09.
$
1909-10.
$
Deduct—
Taxes
546,508
Interest
166,778
Dividends (11%1...1,555,596
462,541
86,846
1,424.389
Total deductions..2,268,882 1,973,776
Undivided profits... 413,548
411,971
2,682,430 2,385,747
The gross earnings as
In 1906-07.
above compare with $4,229,239 in 1907-08 and $4,020,621
BALANCE SHEET JUNE 30.
1910.
1909.
$
$
Assets—
and
Installation
24,001,357 21,579,218
property
Unfinished
lation
Instal¬
Properties purch.
577,954
947,653
326,174
597,250
6,606
390,673
11,399
0,914
21,150
_
Cash in banks....
Stock on hand....
Notes receivable-.
Accts. receivable.
Sundry open accts.
Replacement
Cash in sink. fund.
579,036
320,509
370,994
,657,670
353,409
87,990
23,642
Total
28,887,130 24,972,468
-V. 91, p. 792. 719.
1909.
$
1910.
$
Liabilities—
Capital stock
15,543,600 13,603,400
First mtge. bonds.
227,000
222,000
Consol, bonds
1,250,000 1,245,000
Premium on stock 9,840,915
7,604,940
Accounts payable.
94,329
115,035
Notes pay able
949,000
849,000
42,000
Coupon notes
38,500
Accrued taxes
83,500
72.025
Dividends
466,308
476,119
Reserve for maint.
379,359
543,984
8,811
Replacement acct.
Profit and loss
105,860
98,913
t
28,887,130 24,972,468
Total
Standard Milling
Go.
(Report for Fiscal Year ending Aug. 31 1910.)
The results for the year ending Aug. 31 1910 compare with
those of previous years as follows:
1909-10.
Standard Milling Co
N. W. Cons. Milling Co
H. J. Jewell Co
$771,435
Duluth Superior Mills Co.
1908-09.
Daisy Roller Mills
$46,973
239,408
373,452
44,402
1,416
46,665 Loss 15,662
.$771,435
159,517
Balance
1
.$611,918
Dlv. preferred stock...(3%)206,821
Balance, surplus
1906-07.
270,008
409,819
3,126
$749,884
Southwestern Milling Co...
Net profits
Interest on bonds
1907-08.
f$70,657
.$405,097
$749,884
159.433
$590,451
(4)275,728
$801,691
175,350
$688,572
175,350
$626,341
$513,222
(3)206.763(2 HU72.274
$314,723
$419,578
$340,948
BALANCE SHEET AUGUST 31.
1910.
Assets—
$
Plant, trade-marks'
good-will, &o... 7,686,569
Cash
252,025
Accum. earns, due
from sub-cos...
Net available assets
at branches
Investments
Insurance fund...
Miscellaneous
Securities covered
2,753,324
101,983
*137,335
338,309
250,764
by 1st M. bonds.x6,568,064
Sinking fund
8,342
Total
1910.
Liabilities—
$
Preferred stock... 6,900,000
4,600,000
7,701,092 Common stock
49,785 First mtge. bonds_a3,174,000
Interest accrued..
52,900
338,309
2,442,220 Insurance reserve.
1909.
$
Surplus
earnings
242,672
account
3,031,496
133,500 Miscellaneous
312,188
321,508
2,626,399
58,696
6,568,014
52,837
18,096,705 17,823.817
Authorized issue,
1909.
$
6,900,000
4,600,000
3,272,000
64,533
312,188
Total
18,096.705 17,823,817
$6,250,000; Issued, $5,857,000; held in treasury to take UP
outstanding H. J. J. M. Co. and N. W. C. M. Co. bonds, $2,278,000; canceled
(sinking fund), $405,000; balance outstanding, $3,174,000.
a
$306,759
$160,000
140,000
sur.$23,082
Balance for year
new
$323,082
$160,000
140,000
Assets—
$461,043
$160,000
140,000
sur.$6,759 def.$62,038 smr.$161,043
BALANCE SHEET AUG. 31.
1910.
1909.
Liabilities—
$
$
Plant
4,298,785
Merch. & raw mat’l 2,717,935
Accts. receivable..
806,901
Notes receivable
816.460
Cash
323.383
L
Stocks and bonds..
,093,558
Miscellaneous
131,080
Total
-V. 89, p.
$237,962
$160,000
140,000
1910.
$
1909.
$
4,192,047 Capitalstock.com. 4,000,000 4,000,000
2,562,759 Capital stock, pref, 2,000,000 2,000,000
807,262 Debenture bonds.. 1,950,000 2,000,000
673,573 Accounts payable..
203,191
209,756
269,327 Notes payable
1,244,788
650,000
11,658
990,761 Scrip
11,658
131,067 Surplus
778,465
755,383
10,188,102 9,626,7971
Total
.10,188,102 9,626,797
1143.
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Vicksburg Ry.—Report.—For year:
.
Alabama &
June 30.
Year—
Operating
Revenues.
Net (after
Taxes).
1909-10..$1,672,350
$478,094
1908-09.. 1,526,357
—V. 90, p. 1361.
286,665
Other
Income.
Interest &,
$84,371
72,763
$120,437
120,332
.
Rentals.
Divs.
(7%).
Balance,
Surplus.
$147,000
$295,028
73,500
165,596
Algoma Central & Hudson Bay Ry.—Offering of Securities
controlled by the Lake Superior
Corporation, is reported to be offering $1,000,000 bonds in
Paris and £770,000 in London, part of an authorized issue of
$6,750,000 in debentures.—V. 91, p. 716, 93.
Atchison Topeka & Santa Fe Ry.—Leases and Purchases
Approved.—The stockholders on Oct. 27 approved the pro¬
posed purchases and leases of various roads referred to in
V. 91, p. 588.—V. 91, p. 1024, 949, 939.
Atlantic Shore Line (Electric) Ry.—Sale.—The United
States Circuit Court at Portland, Me., on Oct. 24 ordered
the foreclosure sale of the road under the 1st mtge. to the
Abroad.—This company,
Knickerbocker Trust
Co.,
as
trustee.
The sale will take place at Alfred, *v.f op Pec. 1, trough
of Portland, Me., as special master.—V. 91, p. 869. 716.
JoimF.Merril
Chesapeake & Ohio Ry—Listed.—The New York Stock
Exchange has listed the $31,390,000 4^£% 20-year convert¬
ible bonds, due 1930, which were sold to acquire control of
the Hocking Valley Ry. and for other purposes (V. 90, p. 771,
848).—V. 91, p. 1095, 870.
Chicago Consolidated Traction Co.—Ordinance.—Mayor
Busse has signed the ordinance authorizing the purchase of
the system by the Chicago Rys. and Judge Grosscup on
Oct. 22 entered an order approving the acceptance of the
ordinance.
The valuation adopted is.
Valuation of Physical Property by Bion J. Arnold and George Weston Sept. *10.
$278,688
Track, approxim’g 128 m.$l,177,277 Buildings
88,439
Electric power distribution
728,156 Real estate
459,088
Rolling stock, 344 cars
204,875 Paving
Power plant equipment._
438,781
Total property
$3,450,904
Tools, supplies & furniture
75,600
Percentages on above $3,450,909 for conducting work, furnishing
equipment and brokerage, as per ordinances of Chicago Rail¬
ways Co., granted Feb. 11 1907
517,635
Total
$3,968,539
The appraisers say: “In the present valuation all franchise values have
been entirely excluded.
The physical property has been appraised at its
value for
rehabilitation purposes.
In other words, we have fixed
such a value for the physical property as, presumably, could be certified
by the board of supervising engineers, on the assumption that the Chicago
Railways Co. was purchasing the property of the Chicago Consolidated
Traction Co., including the paving, under the terms of the ordinance.”
Sale.—The sale of the properties of the eight underlying
companies is to take place on Nov.. 30 (V.. 91, p* 945) v
Reported Settlement.—The “Chicago” Tribune” says:
1160
THE
All opposition to the merger has been withdrawn.
CHRONICLE
Settlement was made
*
holders of 10% of the general mortgage bonds, the same class that Is
by the Yerkes estate, and the members of the Foreman-Harrlty
committee. * Of these, the so-called McHenry holding of approximately
90 bonds Is the largest.
That these holders will shortly acceed to the pro¬
posals of the reorganization committee Is practically a foregone conclusion.
The terms of the settlement have not been made
public, but It Is Intimated
that there has been a compromise and that Instead of receiving only 50%
of face value of the general mortgage bonds in 4
% Income bonds of the
Chicago Railways Co., the holders of these bonds will realize something
more substantial for their holdings.—V. 91, p. *025, 945.
owned
Chicago Great Western Ry.—Listed.—The New York
Exchange has listed $2,000,000 additional first ihtge.
50-year 4% bonds, due 1959, making the amount listed to
Stock
date
LXXXXI.
regulating hours of service of employees and requiring block signaling and
safety appliances, have largely increased the cost of operation.
During the current year unfavorable weather conditions caused an in¬
crease of
approximately $60,000 In the cost of operations, and fuel cost
over $30,000
more; while on April 1 an adjustment of wages because of
advances made on other roads added to the
expenses approximately $9,000
per month.
The taxes this year have increased over last year about
$30»000, and now absorb 6% of the gross and about 35% of the net
earnings.
As a consequence of all
this, the company Is short of meeting Its fixed
charges during the first eight months of this year by about
$100,000, and
although It is expected that the net earnings for the remainder
of the year
will be sufficient to make
up the shortage, it is quite certain that the surplus
at Dec. 31 will show a
considerable reduction as compared with the previous
year, and as the accumulated
surplus since the reorganization amounts to
less than 3% of the
capital Invested, your board does not feel that it should
be further entrenched
upon and have, therefore, decided not to declare the
usual semi-annual dividend.—V.
90, p. 1166, 1044.
yesterday with the Yerkes Interests. There now remain of those who
originally started out to circumvent the reorganization plan only the scattered
*
IVoi.
$20,500,000.
Great Northern Ry.—New
Vice-President.—Richard A.
The $2,000,000 bonds are part of the $9,500,000 reserved under the re¬
organization plan for betterments and improvements during the first two or
three years or the existence of the new company, upon the Issue of which
there will be $28,000,000 of the bonds outstanding.
Jackson, formerly General Counsel, has been also made a Vice-
Earnings.—For the 10 months ending June 30 1910 and
Ry. —Dividend Increased.—
2% has been declared on the $285,000 6%
non-cumulative preferred stock, payable Nov. 1,
comparing
with 1% in May
last, when distributions were resumed
after several years.
Compare V. 90, p. 1239.
the 2 months
ending Aug. 31 1910 (the
operations Sept. 1 1909):
To:al
Period Covered—
Ircome.
2 mos. ending Aug. 31 1910..$2,078,195
10 mos. ending June 30 1910.10,342,541
—V. 91, p. 214.
new company
Net (after
Taxes).
$543,527
2,311,443
President of the company.—V.
91, p. 1099, 1091, 1025.
Hartford & Springfield Street
A dividend of
began
Interest,
Balance,
Rentals,Ac. Surplus
$340,509
$203,018
1,855,668
455,775
Hudson & Manhattan RR.—Extension to Be
Opened Nov.
10.—The Sixth Avenue extension from 23d to 33d St. and
Chicago Railways.—Ordinance Signed.—See Chicago Con¬
6th
Avenue, it is announced, will be opened on Nov. 10.
Secretary.—C. W. King, who resigned as a director
last week, has also
resigned as Secretary, and will be suc¬
ceeded in the latter
capacity by William Everdell Jr., for¬
merly Assistant Secretary.—V. 91, p. 1095, 1025.
solidated Traction above.
New Directors.—Frank L. Hupp, William H. Clark, W.
W.
Jones and John Reese have been elected directors to succeed
Hempstead Washburne, W. N. Eisendrath, F. H. Rawson
Gary, who retired.—V. 91, p. 1025, 716.
Chicago St. Paul Minneapolis & Omaha Ry.—The follow¬
ing changes in officers and directors have been made:
New
and John W.
W. K. Vanderbilt Jr. was elected a director to fill the
vacancy caused by
the death of Hamilton McK. Twombly, and S. A.
Lynde of Chicago and
Oliver Ames of Boston to fill vacancies caused by the retirement of E. E.
Osborn, New York, and J, M. Whitman, Chicago.
Samuel A. Lynde was
made Vice-President in place of E. E. Osborn, who retired on account of
ill-health.
Marvin Hughitt, formerly President of the Chicago & North
Western and recently elected Chairman of the board of that
company, was
also chosen Chairman of the Omaha Company.—V. 91,
p. 786.
Coal & Coke
Ry.—Report.—For
Fiscal
Gross
Year—
Earns.
1909-10
$882,792
1908-09
717,308
—V. 90, p. 1613.
Net
Net
year
ending June 30:
Other
Interest
Rg. Dept. CoalDept. Income. & Taxes.
$292,121
$41,501
$840
$313,239
222,514
840
284,304
Bal., Sur.
or
Def
sur.$21,223
del.60,950
Columbus New Albany & Johnstown Traction Co.—Sold.
—The option obtained for “Eastern” interests in the name
of A. T. Herd of New York
City (through the medium of
Musco M. Robertson of Cincinnati),
Illinois Oentral RR.—Decision.—The State
Supreme Court
yesterday, reversing the Circuit Court of La Salle
County, overruled the demurrer interposed by the company
to the bill of the
Attorney-General in the suit for back taxes
claimed to be due, on the ground of lack of
equity. The
Supreme Court orders testimony to be taken before a
master.—V. 91, p. 863.
of Illinois
Counsel for the company are quoted as saying that the decision
holds
the Important point that under the statute of Ilm Rations the State’s
case
Is null and void so far as It affects years
prior to 1905 and that the State
may sue for only such taxes as It Is claimed accrued between 1905 and 1907.
—V. 91, p. 879, 863, 397.
Janesville (Wis.) Street Ry.—Sold.—-This
property was
at sheriff’s sale at Janesville on Oct. 24 to
satisfy
$175,000 indebtedness and was bid in for $125,000, subject
sold
to
$10,000 receiver’s certificates, by T. S. Nolan, representing
The road, it is said, will be reorganized as
part of the Rockford & Interurban system (compare Union
covering the collateral
pledged with the defunct Queen City Savings & Trust Co., Ry., Gas & Electric Co. on page 110 of “Electric Railway
to secure a loan of $176,000,
has, it is announced, been closed Section”).—V. 90, p. 977.
Los Angeles Ry.—New Name.—The shareholders on Oct.
by the purchase of the note at its face value plus int., &c.
Payment, It Is said, will be made part in cash and part in 60-day notes.
20, besides Increasing the authorized capital stock from $5,The securities pledged as collateral include, it is
stated, securities aggre¬
000,000 to $20,000,000, changed the name to “Los Angeles
gating $844,000, but the several amounts given foot up $944,000, as fol¬
lows:
$440,000 bonds, $150,000 pref. stock and $354,000 common stock.
Railway Corporation.” A $20,000,000 mtge., we under¬
—V. 82, p. 1211.
stand, is proposed, if already authorized.—V. 91, p. 1096,717.
Denver Tramway Terminals
Co.—Incorporated.—This com¬
Michigan Central RR.—Notes Sold.—Morgan, Harjes &
pany is reported to have been incorporated with $1,400,000
Co.,
Paris, have purchased 50,000,000 francs of the com¬
authorized capital stock to build a terminal and two
loop pany's one-year notes.
The notes have no collateral.
lines for the Denver City
See New York Central & Hudson River RR.
Tramway Co.—V. 91, p. 870.
item, V. 91,
Detroit & Mackinac Ry.—Report.
p. 1026.—V. 91, p. 1026, 276.
June 30—
Gross
Net
Other
Charges, PJ.Div. Bal.Jor
Missouri Kansas & Texas Ry.—Proposed Lease
Year—
of Texas
Earnings. Earnings. Income.
&c.
(5%).
Year.
1909-10
Central.—The company on Oct. 26 applied to the Texas
.$1,231,244
$381,791
$18,380 $352,671
None.
$47,500
1908-09
1,148,974
352,930
15,875
Railroad Commission to take over and operate, as
321,304
47,500 None.
part of
“Charges, &c.,” as above in 1909-10 Include $42,041 for additions and
its system, the Texas Central RR. under a lease.
betterments and $88,469 for Hillman branch, against
$11,514 and $87,193,
the bondholders.
1
respectively, In 1908-09.—V. 89, p. 1249.
Detroit Toledo & Ironton
June 30—
Operating
Year—
Revenues.
1909-10
$1,607,032
1908-09
1,525.126
—V. 91, p. 1025, 870.
RR.—Report.
Operating
Other
Total
Income.
Income.
$31,670
166,956
$40,506
Deductions.
$986,474
890,689
38,476
Balance,
Deficit.
$914,298
685,257
Georgia Railway & Electric Co., Atlanta, Ota—Dividend
Rate Increased from 6% to
8%.—A quarterly dividend of 2%
has been declared on the
($8,514,600) common stock, pay¬
able. Nov. 19 to holders of record Nov. 15.
Dividends
were
begun in August 1905; since and including 1907 the rate has
been 6%, now increased to 8%.—V.
90, p. 502, 236.
Georgia Southern & Florida Ry.—Report.— For
June
30
Year—
Operating
Operating
Other
Income.
Revenues.
income.
1909—10
$2,322,158
$425,166
$57,988
1908—09
1,996,937
471,261
51,657
Dividends include yearly 5% ($34,200) on
200) on second pref. stock.—V. 90, p. 848.
year:
Interest,
Divs.
Balance,
&c.
Paid.
Suprlus
$332,029
$88,400
$62,725
322,630
88,400
111,888
first pref. stock and 5% ($54.-
Grand Rapids & Indiana Ry.—No Dividend at
Present on
Common Stock.—The directors have decided not to
declare
the usual semi-annual dividend due Oct. 25 on
the
$5,791,700
stock.
This stock received in 1900 1%,
in 1901 2%,
and from 1902 to April
1910 3% yearly. President'Joseph
Wood in a circular dated Oct. 18
says in substance:
While the gross earnings to
Sept. 30 show a fair Increase, yet, for reasons
common
hereafter stated, the expenses, &c., have so increased
as to leave no net
Income
applicable to dividends.
Following foreclosure in 1896 and the payment of a 5% cash
assessment,
and the acceptance of stock
by the holders of its 5% bonds, your company
was reorganized on such a basis
that on Jan. 1 1910 (14 years later) the
stock and bonds outstanding
aggregated less than $43,000 per mile of-main
track (excluding branches), and the
interest rate on its bonded debt less
than 4.2%.
However, our taxes in the State of Michigan have
by year, until they now amount to $213,969, an increase of increased
$139,124,
or 186% since
1902, although the additions and betterments
paid for out
of Income ($547,364) or
by sale of bonds ($538,000) Increased only 7.1%.
Again, In April 1904 the enforcement of an old law
reduced the maxi^fr1^i^>aSc.en?er«oa^e
fr?mthe
3 cents to 2 H cents per mile, and by a new law
effective Sept. 28 1907
rate was fixed at 2 cents
per mile.
With the
average rate per passenger per mile in 1909 as in
1903, the earnings
«
S
There
d freight
have been
greater by $182.311.
has also been
a marked rTiru
reduction in
rates, due largely to competition.
The aver¬
age earnings per ton per mile in 1896
were 8.2 mills; in 1909 6.3
mills,or a
decrease or about 23%.
In addition, both State and
national
legislation
It Is proposed to do so under a 5-year lease, as the actual merger
of the
two properties cannot be effected except by enactment of the
legislature.
The official recognition of the two roads as being under the same
manage¬
ment will. It Is said, make the single line rate
over the
applicable
connecting
roads, instead of the joint line rates as at present, which would mean a
saving to the shippers.
The company states In Its application that It agrees to follow the
policy
of the former owners of the Texas Central of
extending that line west
through the lower Panhandle to Roswell, N. M., about 350 miles, and com¬
pleting the branch line now under construction from De Leon, to a point
40 miles west. The Commission will give a hearing on Oct.
31.—V.91, p. 799.
Milford & Uxbridge Street Ry. Co.—Bonds
Offered.—
Warner, Tucker & Co., Boston, in offering at 96)4 and int.
the unsold portion of $110,000 1st M. 5s due Jan. 1
1918, say:
Part of an issue of $335,000, secured by a closed first mtge. upon the en¬
tire property, subject only to a lien of $165,000
upon a portion of the road.
Appraised for Mass. State RR. Commission at $1,012,540, or over twice the
bonds outstanding.
Earnings for year ending Sept. 30 1910: Gross, $191,111; net after taxes, $59,408; lnt. on $500,000 bonds, $25,000.
[A 12-mlie
extension Is proposed from Uxbridge Centre to East
Douglas.—Ed.]
—V. 91, p. 463.
,
Montreal Street Ry.—Amalgamation Plan Withdrawn.—
At
a
meeting of the directors
President
on
Oct. 20
a
letter
was
read from
Holt; of the Montreal Light, Heat & Power Co.,
withdrawing his
company
from further negotiations:
Abstract of Mr. Holt’s Letter, Dated Montreal. Oct. 17 1910.
In view of the dissatisfaction expressed by several of our largest share¬
holders in respect of the comparatively low price to be offered for their
shares, and also in view of the adverse public sentiment expressed through
the newspapers and otherwise, and inasmuch as the outcome of the
project
might interfere with the company’s pronounced policy of reducing rates
from time to time, the directors of this company, at a meeting held
to-day,
concluded to abandon the project and to withdraw from any furthernegotia¬
tions.—V. 91, p. 871, 655.
National Railways of Mexico.—President Reports Road
Prospering.—President E. N. Brown, who is in New York,
is reported in the “Sun” as saying:
The two years since the consolidation of the Mexican Central, the Inter¬
national, the Hidalgo and other smaller roads with the National, have
demonstrated the wisdom of the plan, and the earnings of the system have
steadily Increased.
WWH
The condition of the road is very good, and the earnings have been
good,
the increase amounting to between 10 and 12%, which was about what
was expected.
We are building two new lines and two short branches.
One of the hew
ines will extend from Durango westward in the State of that name: the
other from Penjamo, In the State of
Guanajuato, into the State of Mlchoacan.
Two branches are being built in the State of Vera Cruz.
The
system.,to-
Oct. 29 1910,
THE CHRONICLE
gether with the leased lines operated, now totals about 8,200 miles.
The
engines and cars are of the heaviest and latest types, and most of them
have been bought In this country.
In the last years many Improvements
have been made and these will be continued.
It Is safe to say that this year the earnings of the road will warrant a
continuance of the dividend of 4% that was paid to holders of preferred
stock last year.
The heaviest traffic on the road is In the districts about
Monterey, Torreon and the City of Mexico. The Mexicans are great
travelers.
They go about as much as any other people I have known.—
V. 91, p. 946, 943, 713.
New Orleans & Northeastern
June 30. Operating
Year—
Revenues1909-10. .$3,443,102
1908-09-_ 3,035,088
—V. 89, p. 1594.
RR.—Report.—For
year:
Net (after
Other
Int. A
Dividends
Balance,
Taxes).
Income.
Rentals.
Paid.
Surplus.
$1,074,092 $100,184 $503,965 (6^)5390,000 $280,311
(5)300,000 152,753
843,164
90,615 481,026
New Orleans Railway & Light Co.—Dividends on Preferred
Resumed.—The directors have declared a dividend of 2%%
the $10,000,000 5% non-cumulative preferred stock out
the earnings of the year ending Dec. 31 1910, paya¬
ble Jan. 16 to holders of record Dec. 31.
This is the first dis¬
tribution since that made in Oct. 1907, when 62% cents per
share (% of 1%) was paid.
The first dividend, 134%, was
on
of
paid in Jan. 1906 and the same amount
thereafter to July 1907.—V. 90, p. 1167.
was
paid quarterly
New York New Haven & Hartford RR.—New Directors.—
Acquisitions Approved.—The stockholders
on
Oct. 26 voted
to increase the board of directors from 25 to 27 and to approve
the
purchase of the Bershire RR., New Haven & Northamp¬
ton Co. and Rhode Island & Massachusetts
lowing three
new
directors
were
RR.
The fol¬
elected:
Thomas De Witt Cuyler of Philadelphia, a member of the Pennsylvania
RR. board, to succeed John H. Whlttemore, deceased; President James
McCrea of the Pennsylvania having already been a director; Augustus S.
May and Arthur E. Clark, Treasurer and Secretary of the New Haven Com¬
pany, respectively, whose election It is stated Is temporary.—V. 91, p. 1026,
946, 941.
New York Westchester & Boston (Electric) Ry.—Bonds
Authorized.—The Public Service Commission, Second De¬
partment, has authorized the company to issue $5,000,000
5% 50-year bonds under its 1st mtge. dated Oct. 1 1904.
The bonds are not to be disposed of for less than par or pledged as se¬
The proceeds are to be used only In the construc¬
curity for Indebtedness.
tion of the portion of the road extending from the junction with the main
line, In the City of Mount Vernon, to the terminus In the village of White
Plains.
The company has been authorized to exercise the franchise granted
It for the construction and operation of its road within the cities of Mount
Vernon and New Rochelle, the villages of North Pelham and White Plains
and the towns of East Chester, Scarsdale and White Plains.—V. 91, p. 337.
Norfolk & Southern Ry.—Distribution of New
The reorganization committee of the Norfolk &
Securities.—
Western Ry.
(George C. Clark, Chairman) gives notice to the holders of
certificates of deposit of the first and refunding M. bonds
and bond scrip, under the plan of reorganization dated July 2
1908, that the distribution of the stock of the new company
(Norfolk Southern RR. Co.) will be made to the holders of
the certificates of deposit in the ratio of $1,142 86 par value
of said stock for each $1,000 par value of bonds or bond
scrip, at the Manhattan Trust Co., New York, the Union
Trust Co. of Providence and the Old Colony Trust Co. of
See advertisement on another page.—V. 91,p. 1026.
Boston.
Northern Central Ry.—Circulars of Minority Committee.—
The minority stockholders’ committee (Arnold E. Waters,
Baltimore, Chairman), who oppose the approval of the pro¬
posed lease at the adjourned meeting on Nov. 2, have issued
a
circular to the stockholders dated Oct. 24.
The committee Is also distributing copies of a letter from their counsel,
Arthur W. Machen Jr., stating reasons why. In his opinion, the proposed
lease should not be made.—V. 91, p. 1026, 871
Ocean
Shore
(Cal.) Ry.—Sale Postponed.—Judge Van
Fleet, in the United States District Court at San Francisco,
on Oct. 17 granted the application to postpone the sale of the
road from Oct. 19 to Nov. 18,in order, it is said, to enable
the bondholders’ committee to secure the deposit of $1,500,000 additional bonds, making a total of $4,000,000.—V. 91,
p. 1026, 871.
Pennsylvania RR.—Extra Fare for Tube Service.—The
company this week announced that in addition to the charge
now
made to passengers from suburban points in New
Jersey, 10 cents additional or 20 cents per round trip will
1161
I have sought the advice of experts, particularly Thomas E. Mitten, who
is now at the head of the Chicago system, and I am satisfied that a consid¬
erable sum of money will be required In the near future for necessary re¬
newals, and also a substantial amount Rhould be provided properly to en¬
large and thus Increase the efficiency and earning power of the system.
It
Is therefore essential that a comprehensive plan be formulated whereby a
fund can be provided for capital expenditures covering a period of some
years, and also that a larger amount should be appropriated from the earn¬
ings of the company for renewals of the present property.
Should the Union Traction Co. stockholders agree to the lending of their
company’s credit for the purpose of securing the new capital necessary,
they will, by so doing, serve to increase the value of their own property;
which, operated under the conditions of the Philadelphia Rapid Transit
Company’s contract with the city (a contract, however, that is not trans¬
ferable) will secure to the Union Traction stock all of the advantages in
the way of net earnings resulting therefrom up to the limit of the Transit
Company’s guaranty.
In no other way can the Union Traction Co. stock¬
holders, In my opinion, secure such favorable return from their property.
There seems to be no reason, barring unforeseen contingencies, to ques¬
tion the ability of the property to ultimately show substantial earnings on
the present capitalization, providing a financial plan, along the lines indi¬
,
cated, can be consummated.
In conclusion, I would be willing to accept your Invitation, conditionally,
however, upon: (1) That the Union Traction Co. stockholders agree to guar¬
antee the obligations for capital requirements; (2) that a sufficient amount
be appropriated from the earnings to properly maintain the property.
It is reported that the plan which Mr. Stotesbury advo¬
cates is the sale of perhaps $5,000,000 of an issue of, say,
$10,000,000 debentures of the Philadelphia Rapid Transit
Co., guaranteed by the Union Traction Co., in which case
the shareholders of the latter company would probably con¬
tinue to receive the
—V. 91, p. 946, 789.
same
rate of dividend
as
heretofore*
*
Pittsburgh Shawmut & Northern RR.—Receiver’s Certifi¬
cates.—Kidder, Peabody & Co., New York and Boston, offered
on
Oct. 26, at 96% and int., yielding 5%% income,
$1,500,000 5% receiver’s certificates covering the Pittsburgh
Shawmut & Northern RR. and the mortgaged properties of
the Shawmut Mining Co. and the Kersey Mining Co.
These
certificates are dated Aug. 1 1910 and due Aug. 1 1915 but
red. on any interest day at 105 upon 90 days’ notice.
Int.
F. & A. Par $1,000 (c). Columbia Trust Co., N. Y., trustee.
The entire amount, it is stated, has been placed.
Abstract of Letter from Receiver Frank Sullivan Smith, Oct. 24 1910.
These certificates were authorized In June 1910 by the Supreme Court
of New York and by the U. S. Circuit Court for the Western DIst. of Penna.
and approved by the Public Service Commission of N. Y. (2nd Dist.), prin¬
cipally for additional equipment rendered necessary by the heavy traffic,
and for other purposes specified for the improvement Of the property and
the Increase of its net earnings.
The property consists of about 200 miles of railroad, extending from Hornell and Wayland, N. Y., where It connects respectively with the Erie and
the D. L. & W. RR., and Olean, N. Y., where it connects with the Penn¬
sylvania system, to the Borough of Brock way ville, Pa., where connection
is made with the Pittsburgh & Shawmut RR., which Is now under con¬
struction to the Pittsburgh district, as an extension of the Pittsburgh Shaw¬
mut & Northern RR., being owned by substantially the same interests.
The receivership covers railroad properties, coal lands, consisting of
about 26,000 acres of coal with eight mines in operation, mining towns and
mining plants capable of producing 6,000 tons of coal per day, or about
1,500,000 tons per year.
Total value, over $25,000,000, of which more
than $3,000,000 is first class equipment.
There are now outstanding $164,000 1st M. 5s and $14,491,600 refunding
4s, of which $11,953,000 are pledged as collateral under the mtge. executed
by the Pittsburgh & Shawmut RR. Co. to Central Trust Co. of N. Y. to
secure Its 1st M. 5% bonds.
The receiver’s certificates are a lien upon said
properties prior to the lien of said mortgages or deeds of trust and are to be
recognized as such in any reorganization.
The total authorized issue of receiver’s certificates. Including the present
Issue, Is $3,100,000, $525,000 of which are due in 1914, $200,000 In 1915
and $875,000 refunding certificates will be due in 1916.
The operating revenue this year Increased 40% over 1909, with an In¬
crease of but 11 % In operating expenses.
The company earned net for the
year 1909-10 $397,171, or over ~2 H times the Interest on the total issue of
certificates.—V. 91, p. 39.
Portland (Ore.) Railway Light & Power Oo.—Regular
Dividend.—The regular quarterly dividend
of 1% has
been declared on the $10,000,000 common stock, payable
The reports current this week as to proposed finan¬
Dec. 1.
cial plans are pronounced premature.
A definite statement
is expected to be made in the near future, possibly next week.
—V. 90, p. 850.
Quakertown Traction Co.—Notice to Bondholders.—Refer¬
ring to the offer mentioned last week (p. 1096), George B.
A.tlee & Co., Philadelphia, make the following statement:
formed on Oct. 25 by the bondholders of the
the recent proposition made them whereby
In danger of suffering a considerable loss either through the
acceptance of same or by the alternative of refusing said proposition.
The
committee comprises Julius Vetterleln,* Theodore J. Lewis, William Alex¬
ander Brown, Albert W. Morton and George B. Atlee (Chairman), 119
A protective committee was
who are opposed to
company
they are
be asked from those who
South 4th St.,
new
Quebee Southern Ry.—Settlement.—All creditors of the
Quebec Southern Ry. Co. and the South Shore Ry. Co. and
all persons interested in the moneys arising from the sale of
said railways are notified that application will be made to the
use the tunnel extension to the
station to be opened on Nov. 27.
(Compare L.I. RR.,
V. 91, p.463.)
Similarly
an average charge of about ten cents per single fare will be
50-trip or commutation tickets.
The first passenger train con¬
taining J. P. Morgan and party was sent through from New Jersey on
Monday.—V. 91, p. 1026. 946.
made
on
all
Philadelphia Rapid Transit Co.—Mr. Stotesbury’s Reply.—
respectively
by all of the directors of this company and by a large number
of the shareholders of the Phila. Rapid Transit Co. and the
Union Traction Co., Mr. E. T. Stotesbury on Oct. 20 sent a
letter (addressed to Henry C. Butcher), stating that he would
enter the Transit board provided Union Traction stockhold¬
ers would agree to guarantee such
financing as is required
by the Transit Company. The letter says in substance:
In response to the petitions dated Oct.3, signed
I duly received the communication signed by yourself and others request¬
ing that I enter the board of directors of the Rapid Transit Company with
such associates as I might select and thereafter “control the policy and
business of the company.’*
An earnest desire to advance the welfare of tbe general public prompts
me to comply with your request, but In view of the Transit
Company’s
financial requirements, I feel that I can only accept this responsibility
upon a certain definite understanding by which the Union Traction Co.
will guarantee the Transit Company’s obligations to provide such new
capital as may be required until such time as the net earnings of the system
are sufficiently increased as to make possible the sale of Phila. Rapid Transit
Company’s securities on their own merits.
From the published annual reports of the Phila. Rapid Trahsit Co. It
appears that the net earnings during the past four years have not. been
sufficient to pay the annual guaranteed dividend of 6% upon the Union
Traction Co. stock.
Moreover, the net earnings of the Transit Company
for tbe current fiscal year will not be sufficient, according to President
Kruger’s estimate, to pay this dividend.
Philadelphia.—V. 91,
p.
1096.
Court at Ottawa on Nov. 8 for an order approving the agree¬
ment made between Charles K. Lawton, Jno. Hasseltine nnd
Wm. Bloom and the Attorney-General of Canada, settling
the claims of the said Lawton, Hasseltine and Bloom as
held creditors collocated therein.—V. 82, p. 510.
Rio Grande
Ry.—Bond Not Filed.—The minority stock¬
by Oct. 18, as required by the
road.
holders failed to file the bond
order granting a re-sale of the
Under the order, therefore, the original sale for $48,000 to Wm.
of the St. Louis Union Trust Co., representing, it Is understood,
Louis & San Francisco interests, stands confirmed.
Compare V. 91,
E. Guy
the St.
p.1026.
Rock Island Arkansas & Louisiana RR.—Listed in London.
—The London Stock Exchange has listed the $11,000,000
4%% bonds. Compare V. 90, p. 628.—V. 91, p. 717.
Joseph & Grand Island Ry.—New President.—Graham
G. Lacey, a St. Joseph banker, has been elected President
to fill the vacancy caused by the resignation of W. T. Van
Brunt some time since.—V. 89, p. 1277.
St. Louis Rocky Mountain & Pacific Oo.—Report:
1st M.
St.
1909-10
1908-09
—V. 90,
Earnings.
Net (after
Taxes).
Interest,
Ac.
$1,974,244
1,439,046
$667,511
456,064
$401,11$
Gross
June 30
Year—
p.
772.
381,687
Deprec'n,
Ac., Res.
$64,767
79,307
Bal., Sur.
or Deficit.
sur.$201,628
def.
4,930
1163
THE CHRONICLE
1908-
[VOL.
LXXXXI.
St. Mary’s & Western Ontario
Ry.—Meeting of 2nd M.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Bondholders.—James Munro, trustee of the 2nd M. bonds,
Akron (O.) Water Works Co.—Proposition to Issue Bonds
gives notice that, in compliance with a requisition by the
for New City Plant Defeated.—See “Akron, Ohio," in “State
holders of one-half in amount of said
bonds, a meeting of the & City" Department.—V.
72, p. 1189.
bondholders will be held at his office, in the Village of Embro,
American Express Co.—Injunction.—Judge Kohlsaat in
Ont., Canada, on Dec. 6 next, to consider what steps should
the United States Circuit Court at
be taken in view of the default of the
Chicago on Oct. 12 granted
company to pay interest a
on the bonds.
temporary injunction restraining the Illinois State Railroad
and Warehouse Commission from
The road extends from Embro to St. Mary’s, Ont., 15.7 miles, and Is
enforcing its new rate
leased to Canadian Pacific Ry. at a rental of 40% of gross earnings, but not
schedule,
effective Oct. 15, making sweeping reductions in
less than $7,930 per annum, or 4% on the $198,250 1st M. bonds.
The
the charges of express
Canadian Pacific has the option of acquiring the $250,000 stock at any
companies. Argument is expected to
time within 12 years for $25,000.
take place shortly on the
question of making the injunction
Southern Indiana Ry.—Receiver's Certificates Authorized.—■ permanent.
Compare
V.
91, p. 591.
The Federal Court on Oct. 22, on petition of receiver
Myron
American
Glue
Co.—Extra
Dividend.—An extra dividend
J. Carpenter, authorized an issue of not over $325,000 re¬
of 1% (No. 6 of such
ceiver's new certificates to take up the $382,000 certificates
payments) has been declared on the
maturing Nov. 1 next, the remainder of the amount necessary $800,000 common stock along with the regular semi-annual
payment (No. 10) of 2%, both payable Nov. 1 to holders of
to be provided from cash on hand.
record Oct. 27.
The new certificates will be dated Nov. 2 1910 and mature
The same amounts were paid in May 1910
May 1 1911,
but may be paid off before that time If desired.—V.
and
91, p. 871.
Texas Central RR.—Proposed Lease.—See Missouri Kansas
& Texas Ry. above.—V. 91, p. 871.
Third Avenue RR., New York.—Re-hearing Granted.—
The Public Service Commission, First District, has
granted
the application of the bondholders' committee for a re¬
hearing on the proposed reorganization plan.—V. 91, p.
1096, 718.
Vicksburg Shreveport & Pacific Ry.—Report.—For year:
■June 30.
Year—
Operating
Revenues.
1909—10,1$1,418,312
1908—09_
1,367,111
—V. 89, p. 1595.
_
Net {after
Taxes).
$308,039
257,592
Other
Income.
Interest &
Rentals.
$93,951
69,284
$180,675
181,568
Pref.div.
(5%).
$107,140
107,140
Balance,
Surplus.
$114,175
38,168
Wabash-Pittsburgh Terminal Ry.—Suit to Obtain Deposit
of Bonds with Chapin Committee.—The Wallace committee
for bondholders has refused to return the
$450,000 bonds
owned by the Colonial Trust Co. of
Pittsburgh so that the
bonds may be deposited with the Chapin committee.
The
Chapin committee, it is stated, will carry the matter to the courts in
test suit.
The bonds were deposited with the Wallace committee in
May
1908 under a 5-year agreement, but the
Chapin committee claims that as
nbout half of that time has elapsed with little activity
by the Wallace com¬
mittee, it has forfeited its rights to insist upon retaining the bonds for the
lull period.—V. 91, p. 1097.
a
Washington Baltimore
& Annapolis Electric Ry.—De¬
posits.—Advices from Baltimore state that there have been
deposited with the reorganization committee a considerable
-amount of stock and
and about
over
half the bonds of this company,
Nov. 1909.—V. 91, p. 213, 155.
American Malting Co.—Report.—For
190-._$24,38
Fiscal
Year—
1909-10
year
end. Aug. 31:
Total
Bond
Taxes
Betterments
Balance,
Projits.
Interest.
Paid.
& Maint.
Surplus.
$549,156
$184,398
$70,384
$51,922
$242,452
880,993
190,430
79,616
53,564
557,383
Profits as above Include earnings on
products dealt in and Interest on
securities owned, loans and balances.
Tne semi-annual dividend of 62 cts.
paid Nov. 1 on the $14,440,000 pref. stock calls for $89,528. The amount
of the final dividend, payable in
May 1911, out of the earnings for the late
year, whether more or less than the amount
just declared, will depend on
the trade conditions then
existing. See V. 91, p. 791.
American Smelters' Securities Co.—Bond Issue.—The
company has authorized an issue of $15,000,000 15-year 6%
bonds, convertible for 7 ^ years $ for $ into the common stock
of the American
Smelting & Refining Co., to the stockholders
of which the bonds will be offered at
The offering, it is
par.
understood, will be underwritten.
The proceeds of the bonds will enable the
Securities Co. to pay off Its
Indebtedness to the American Smelting & Refining Co. and add
close to
$5,000,000 to the working assets of the former company.
The American Smelting &
Refining Co. has arranged to purchase the com¬
mon stock of the American Smelters’
Securities Co. held by the Guggen¬
heim Exploration Co., amounting to
$11,249,000, but which is carried on
the Exploration Co.’8 books at a nominal
value of $1.
This will place the
American Smelting & Refining Co. In possession of
practically the entire
$30,000,000 common stock of the Securities Co.—V. 91, p. 532, 517.
American Smelting & Refining Co.—Convertible Bonds,
&c.
—See Amer. Smelt. Securities Co. above.—V.
91, p. 531, 517.
American Woolen Co.—Acquisition of Wood Worsted Mills.
—The directors of the company have voted to
purchase the
Wood Worsted Mills, and the purchase has been
equal number of the bonds of the Baltimore
approved
Terminal Co.—V. 91, p. 947, 590.
by the latter.
The American Woolen Co. Is the owner of all the stock
of the Worsted
Western New York & Pennsylvania Traction Co.—Bonds Mills Corporation
except one share for each director, so that the consolida¬
tion
of
the
two
Offered.—J. S. & W. S. Kuhn, Inc., Pittsburgh, Chicago,
companies is merely a matter of convenience and does not
involve the issue of any new securities.
New York and Philadelphia, with
All the obligations of the Wood Worsted Mills have been
Kuhn, Fisher & Co., Inc.,
liquidated
Boston, as their agents, are offering by. advertisement on except the $1,000,000 of coupon notes, which arc guaranteed by the
Ameri¬
can Woolen Co., due March 1
1911, and in order that their payment may
another page at 95 and int. the unsold
portion of $2,000,000 be secured to the note-holders the Wood Worsted MiUs will, prior to the
■“first and refunding mtge.'' 5% gold
execute a short-time mortgage for the benefit of the holders thereof.
bonds, exempt of Penna. sale,
Upon payment of the notes on March 1 next, for which arrangements have
and N. Y. State tax.
Dated 1906 and due Jan. 1 1957, but been
made, this short-time mortgage will be discharged.—V. 91, p. 520, 96.
callable at 105 and int. prior to Jan. 1 1912; thereafter at
Chesapeake & Potomac Telephone Co.—Bonds Called.—
110 and int.
Par $1,000 (c*).
Trust Company of America, Such of the
$1,000,000 5% 1st M. bonds of the Maryland
N. Y. City, trustee.
A circular says in substance:
Since the consolidation [in Nov. 1906], extensions
Telephone & Telegraph Co. of Baltimore City, bearing date
aggregating
over
30
miles of track have been made, a new
Nov. 1 1899, as bear the guaranty of the
power house, together with sub-staChesapeake &
tlons, and waiting rooms, have been built, and the
property generally Im¬
Potomac Telephone Co. have been called for
The
proved.
system Is located In southwestern New York State and In
payment on
northwestern Pennsylvania, the towns served
Including Olean, Portvllle, Jan. 3 at par and interest to Jan. 1 at the National Marine
<3eres, Bolivar, Allegany, Salamanca and Little
Valley, N. Y., and Brad¬ Bank of Baltimore.—V.
ford, Lewis Run and Shlnglehouse, Pa. The company’s
87, p. 1422.
property lies In
the centre of the famous Olean oil district.
In addition, the territory has
Consolidated Gas Co., New York.—Dividend Rate In¬
been well developed agriculturally, Its
principal Industries comprising dairy, creased
refining, tanning and the manufacture of furniture, cutlery
from 4% to 6%.—The directors on Thursday declared
and bricks.
The division shops of the Erie RR. are located at
Salamanca, while those of ; a regular quarterly dividend of 1 lA% on the $99,813,000
the Penna. RR. are at Olean.
There are two well-patronized
parks on the i capital
company’s lines, one a few miles east of Olean, known as Rlverhurst
stock, payable Dec. 15 to holders of record Nov. 16,
Park,
and the other at Rock City, midway
thus increasing the annual rate to 6%,
between Olean and Bradford.
compared with 4%
The company’s property includes about
98 miles of
since 1907 inclusive.
President Cortelyou made no formal
steel, well ballasted, approximately 60% of which Is track, mostly 70-lb.
operated
on private !
and leased rlghts-of-way; 58 double-track motor
statement regarding the increase, but the
passenger cars, 30 freight
following, we
cars and 5 snow plows.
Power Is furnished by gas engines *
using natural understand, is correct:
Vas from the company’s fields, the cost
being very low. The grade of the
an
road seldom exceeds 2%,
except on the scenic route between Olean and
Bradford.
The franchises are practically
perpetual, except those In Brad¬
ford, where they run until 1934. The location,
along two large valleys,
Intersected by smaller valleys, renders other
railway competition practically
impossible, and makes the company’s service In effect exclusive.
CfrnitaUzatlori.
Authorized Issue of "first and refunding” bonds (a first
Hen on
the entire property except 30 miles of
Olean Street Ry.—see
below), $5,UUU,uoo; auiomix otusutiiuiug
$2,000 000
Reserved to retire divisional liens (Olean St.
Ry. 5s), covering
only 30 miles of track
$300,000
Remainder Issuable for future
„
extensions and additions at 85%
of actual cost, but only with consent of
Public Service Com¬
mission of New York State.
Capital stock (1st pref. 6% cum., $600,000; pref. 5%
non-cum.,*
$1,000,000; common, $1,000,000)
2,600 000
There are also outstanding $5$,000 1st
M. 5s due 1933 on 5 miles of’the
Shlnglehouse RR., whose entire capital stock Is owned.
Earnings lor Year ending Dec. 31 1909.
Gross earnings
$371,1061Taxes, rentals, &c
$18,166
Net
_
earnings
Balance, surplus for
$205,7781 Int.
on
$2,300,000 bonds..$115,000
(being 60% In excess of Int. charges)
$72,612
The company contemplates in the near
future an active development of
power business, a source of revenue
practically undeveloped. The
freight business is being gradually developed.
The receipts per car mile for
1909 were $.2471
Dfreclow.—W. R. Page of Olean, Pres.; Jos. B.
Stephen Peabody and Wm. F. Sheehan, all of Mayer, Oaklelgh Thorne,
N. Y.
year
Its
City; F. E. Dusen-
•—V^OO^p^llOS Y” W,C,Marcy‘ Buffalo; Wm. E. Burdick,
Bradford, Pa.
Wilmington (Del.) Newcastle
& Southern Ry.—Foreclosure
Decree.—Chief Justice Pennewill in the
Chancery Court at
Wilmington, Del., on Oct. 22 issued a decree providing for
the sale of the line between
and Newcastle under
the first mortgage of the Wilmington
Wilmington & Newcastle Ry. of
1896 for $150,000 to the Real
Estate Trust Co. of Philadel¬
phia, as trustee.
T IIJ?,®’ J°J^ke Pl?°e ln about a month. wU
be conducted by Sheriff
Newcastle
County. The sale does not Include the line from
Compare V. 91, p. 872; V. 85, p. 922.
Newcastle to Delaware City.
When asked for the reason of the Increase In the dividend rate of the
Consolidated Gas Co., President Cortelyou replied: ‘‘The board of trustees
felt that the conditions of the company’s business justified such an Increase
at this time.”
Mr. Cortelyou added that this condition is due to a variety of causes,
and named among other things growth of the
company’s fuel appliance
business. Improvement in the industrial market for its by-products, econo¬
effected in cost of operation. Increase in earnings of subsidiary com¬
panies, reduction in company’s fixed charges due to conversion of $20,000,000
6% debentures into capital stock, aDd to payments by the city of a large
percentage of the Interest which had accrued on the city’s lighting bill,
adjusted last April in connection with the adjustment of the company’s
special franchise taxes.
Mr. Cortelyou was asked whether the payment of the dividend at the rate
of 6% per annum meant that the company was
earning that rate of return
upon the value of the gas property as found by the U. S. Supreme Court.
He replied that It did not mean anything of the kind.
The value estab¬
lished by that Court was greatly in excess of that portion of the
par value
of the company’s capital stock and obligations which
represented its In¬
vestment In its gas business.
He further added that when the company
earned 6% returns on the value of its properties employed in the gis busi¬
ness, It would be equivalent, when added to earnings of Its
subsidiary
companies, to 8% on the total outstanding capital stock of the company.—
V. 91, p. 398.
mies
Diamond Rubber Co., Akron, Ohio.—Increased Dividend.
—“Cleveland Finance" announces an increase in the
quar¬
terly dividend rate from 2% to 3J^%, which raises the an¬
capital stock was
through a 100%
nual rate from 10 to 14%.
A year ago the
increased from $5,000,000 to $10,000,000
stock dividend.
New Director.—Guy E. [or H.] Norwood
to the board, succeeding O. S. Hart.—V.
has been elected
89, p. 1225.
(E. I.) Du Pont de Nemours Powder Co*—Earnings.—For
ending Sept. 30:
the nine months
Nine
Mos.—
Net (alter *Non-oper. Bond
PreJ.Div. Balance,
Depr.,&c.) Deduc’ns. Interest.
(3H%)» Surplus. ?
$4,559,727 $192,280 $550,546 $505,080 $3,311,821
1908-09.. 22.697,533
4,355,024
254,159 656,807 531,568
2,912,490
•
Represents discount on sale of real estate, securities and other transac¬
tions not due to current operations.
Gross
,
.
Receipts.
‘
THE CHRONICLE
Got. 2* 1910.
■The balance as above for the nine months of 1910 Is equal to 11.55%
(15.40% yearly) on the $28,653,648 common stock outstanding, against
10.87% (13.88% yearly) on the $28,078,521 outstanding in 1909.
Net
earnings for the nine months of 1910 are equal to an annual Income on the
gross Investment of 7 76%, against 7 88% In 1909 —V 91. x». 719, 520.
Edison Storage Battery Co.—New Stock.—The company
filed at Trenton, N. J., on Oct. 20 a certificate of increase of
Nine
Mos.—
1910
1163
Grose
Expenses and
Net
Interest and
Receipts.
Taxes.
$2{054,262
Earnings.
$2,043,545
Renewals.
Balance;
Surplus.
$4,097,807
$456,548 $1,586,997
783,654
8.864,290
1,523,179
2,341,111
1,557,456
general balance sheet shows an Increase In Investment accounts of
$238,404, a net Increase In liabilities of $844,051 and a net Increase In
cash assets of $504,549.—V. 91, p. 340, 217.
1909
The
Massachusetts Goal & Power Go., Boston.—Receivership.
capital stock of $1,998,200, to $3,500,000, as authorized at —Judge Dodge,
in the U. S. Circuit Court, at Boston on
a meeting of the stockholders held Oct. 7.
Oct. 25, appointed Irwin McDowell Garfield receiver for this
The company has recently placed on the market Its perfected storage
battery, for which It claims, as compared with the ordinary storage battery, company in friendly proceedings brought by President
a great saving In weight (50%) and much greater durability, an alkaline
solution having replaced the acid solution of the earlier types. The Electric Edward Slade of Quebec.
battery.—V. 81, p. 561.
General Motors Co., New York.—Voting Trustees.—The
trustees under the 5-year voting trust created in connection
Storage Battery Co. is also advertising a new
with the
floating of $15,000,000 6% first lien notes are:
The company was organized In July 1909 with $5,500,000 of authorized
capital stock In $10 shares, of which about $368,000, It Is said. Is now out¬
standing. The mortgage notes and bills payable are stated to aggregate
about $40,000.
The property consists of 1,700 acres of land with coal veins
which have been under water for 40 or 50 years.—V. 90, p. 1493.
J. N. Wallace of tne Central Trust Co.; Frederick Strauss of J. & W. Selig& Co.; James J. Starrow of Lee, Higginson & Co.; Anthony W. Brady
and W. C. Durant, Vice-Pres. and Gen. Man. of General Motors Co.
Montreal Light, Heat
See Montreal Street Ry.
[Deposits of stock In exchange for voting trust
p.
man
certificates are being re¬
ceived at the Central Trust Co., N. Y.]—V. 91, p. 1098. 947.
Great Western Power Go. of California.—Proposed Lease.—
See Western Power Co. below.
Bonds.—E. H. Rollins & Sons, Boston, N. Y., Chic., Den¬
ver and San Fr., are recommending at present
prices, yielding
5%%, the 5% sinking fund 40-year gold bonds dated
July 1 1906 (see V. 89, p. 1283). Total authorized, $25,000,000; issied, $12,781,000, including $750,000 deposited
as rart security for $1,200,000 bonds of the Cal. El. Gen¬
erating Co. (guar., V. 88, p.688;V.89, p.472), and $878,000
in the treasury.
A circular says in part:
1553, 1494.
Morris & Co. (Packers), Chicago.—Listed.—The New
Stock Exchange has listed $12,300,000 1st M. sinking
4^% bonds, due 1939. Compare V. 89,
Earnings.—For periods stated below:
11 mo.end.
Year end.
Oct. 1 *10. Oct. 30 ’09.
about
A first mortgage on the entire property of the company. Including a hydro¬
electric plant unsurpassed In point of construction on the Pacific Coast,
and with few equals anywhere.
This plant from Its first month of com¬
mercial operation showed a substantial surplus above all operating and
fixed charges, despite the fact that It was delivering to consumers only onehalf of Its available output; a plant still rich In undeveloped possibilities.
Among the power contracts already signed, on only a portion of which de¬
livery Is now being made, may be enumerated the following: Pacific Gas
& El. Co., Southern Pacific HR. Co., Western Pacific RR. Co., Pullman Pal¬
ace Car Co., Cowell Port. Cement Co., Cal
Cotton Mills Co., Giant Powder
Co., Natomas Consol. Dredging Co., Reclamation Districts 307, 744, 765;
Oakland & Antioch RR. Go., Gen. Chemical Co., Buffalo Brewing Co.,
Port Costa Water Co.
Capitalization of Western Power Co. of N. J. (No Bonds) Owning Entire
Stock of Great Western Power Co.
Authorized.
Issued.
Common stock
^-$12,000,000 $12,000,000
Preferred stock 6%, cumulative after Jan. 1 1912.
6,000,000
5,220,000
Earnings tor 12 Months ending Aug. 31 1910.
1 stQuar.
Zd Quar. 3d Quar.
AthQuar.
Total.
$200,451
$212,501
$226,394
$243,071 $882,417
Net
139,624
128,135
164.551
174,174
606,484
Aug. 1910 showed gross earn., $89,342; net, $68,373.—V. 91, p. 1028.
Gross
& Power Co.—Plan Withdrawn.—
under “Railroads" above.—V. 90,
Net prof, on
mfrs.&sales $2,907,190 $3,544,988
Mlsc. earnings
159,014
87,616
Total net
11 mo. end. Year end.
Oct. 1 ’lO.Ocf.30’09.
Admin, expenses $616,690 $593,670
Tax.,
Dlvs
lnc_$2,994,806 $3,704,002 Dlsct.
Deduct—
Int. on bor¬
rowed money 159,670
Int. on bonds.
515,625
p.
York
fund
48, 107.
Ins.,
paid
&c.
300,320
345,000
350,248
450,000
& exp. of
bond Issue
937,500
Bal., surp-__$l,057.501 $683,839
501,245
187,500
Bonds Offered.—William Salomon & Co. are offering a
block of the bonds.
Price on application, to yield over 5%.
—V. 89, p. 48, 107.
New York Bank Note Co.—Suit Dismissed— Judge
Lacombe, in the U. S. Circuit Court, on Oct. 27, on application
of the counsel for the company, the complainant in the suit
against Ransom H. Thomas, the 1,100 members of the New
York Stock Exchange and the American Bank Note Co.,
dismissed the complaint on the ground that it does not state
facts sufficient to give the Federal Court jurisdiction.
Com¬
pare V. 91, p. 467; V. 90, p. 1494.
Nipe Bay Co.—Report.—For the year ending Sept. 30:
Fiscal
Net
Interest & Pref.divs. Com.dies.
Balance,
Year—
Earnings.
Discount.
(7%).
(4%).
Surplus.
1909-10
$1,672,075
$405,079 $140,000
$140,100 $986,895
1908-09
446,920
422,781
24,139
The company’s sugar mill produced 137,196,740 lbs. of sugar and 2,870,334 gallons of molasses, against 91,888,400 lbs. of sugar and 2,673,808 gal¬
lons of molasses the previous year.—V. 91, p. 41.
-
International
Paper Co.—Statement by President.—The.
comparative tables of earnings and balance sheet for the
year ending June 30 1910 were given in V. 91, p. 653.
In the
pamphlet report now at hand, President A. N. Burbank,
under date of Corinth, N. Y., Oct. 15, says:
Notwithstanding the strike, the net profits of the business for the year,
amounting to $1,017,065, are very nearly double those of the preceding
year.
The gross Income was $19,459,030. as against $18,238,476 for the
year 1908-09, an Increase of over $1,200,000.
To maintain the physical
condition of the plants there has been expended during the year nearly
$1,200,000. This expenditure has all been charged Into the operating acct.
A reduction of $518,478 has been made during the year In the floating
debt and, through the action of the sinking fund, of $394,000 In the bonded
Indebtedness.
Pulp-wood operations during the coming year will be
greatly reduced, owing to the extehislve operations Carried on In Canada
during the past winter, and a consequent further reduction In the Indebt¬
edness Incurred on such operations will result.—V. 91, p. 653, 467.
Island Greek Goal Go.—On Boston Unlisted.—The Boston
Stock Exchange has admitted for quotation on the unlisted
Pacific Power &
Light Co.—Dividends Begun.—The direc¬
tors have declared an initial dividend of \%% on its $1,250,000 pref. stock, payable Nov. 1 to shareholders of record
Oct. 24.
Compare V. 90, p. 1617; V. 91, p. 467.
Procter & Gamble Co.—Subscription Rights.—Holders of
the outstanding $10,500,000 common stock of record at noon
on Dec. 10 next will have the right to subscribe for the
$1,500,000
new common
22 at
holders on Nov.
Dec. 12 and 31.
stock to be authorized by the share¬
$200 per share, payable between
The stock transfer books will be closed at the close of business on Dec. 9
and remain closed until Jan. 3 1911, and the new shares will be Issued as
soon as
possible after Feb
15.
Compare V. 91, p. 1098.
Standard Cordage
U. S. Circuit Court of
Co.—No Federal Receivership.—The
temporary certificates for common and pref. stock
Appeals on Oct. 26 handed down an
(par of shares $1).—V. 91, p. 948.
McOrnm-Howell Go.—Neiv Stock Authorized—Acquisitions order directing that the appeal filed June 3 last by the peti¬
—Stock Dividend.-^The stockholders on Oct. 24 authorized tioning creditors to review the order vacating the receiver¬
the proposed increase in the stock from $1,500,000 each of ship be withdrawn.
The order was agreed to by counsel for the petitioning creditors and for
common and preferred to $3,500,000 of each class, the new
the bankrupt corporation.
Compare V. 90, p. 1428. A receiver has been
stock to be used as follows: $850,000 pref. for the purchase appointed by the State courts In proceedings for a voluntary dissolution.
See V. 91, p. 877, 657.
of the plants and liquid assets of the five companies named
United States Envelope Co.—Dividend on Account of
below; $1,250,000 common as part consideration to represent Accumulations.—The
directors have declared a dividend of
their earning capacity (10% on $1,250,000 common after
1%
on the $3,750,000 7% stock on account of accumulated
deducting 7% on the $850,000 pref.); $1,1E0,000 pref.
(underwritten) for further working capital and $750,000 dividends, payable Nov. 10 to holders of record Oct. 22,
reducing the amount of overdue dividends to 9^%. Two
common for a stock dividend of 50% on the $1,500,000 old
similar payments of 2% each were made (M. & N.) in 1909.
common stock.
Regular Dividend (%) Paid on Preferred Stock.
The stock dividend is payable Jan. 30 1911 to holders of
1898. 1899. 1900. 1901. 1902 to 1905. 1906. 1907. 1908. 1909. 1910.
record Jan. 15.
The directors have voted to begin dividends
2
7
7
5X
5 yearly.
5H
6
6
6
10
on the common stock at the rate of 3% yearly by declaring
—V. 91, p. 219.
a quarterly distribution of
Wells Fargo & Co. (Express).—See “Annual Reports."
% of 1%, payable Jan. 1 to
sheet the
holders of record Nov. 15.
mon
stock will
Both the
new
and the old
com¬
participate in the cash dividend payable Jan.l.
The properties purchased are the Model Heating Co. of Philadelphia,
American 4ir Cleaning Co. of Milwaukee, Cameron-Schroth-Cameron Co.
of Chicago and the Vacuum Cleaning Co. and Sanitary Devices Co.
The
new plants will be taken over on Nov. 1.
These companies, It Is estimated,
will give the McCrum-Howell Co. control of about 80% of the stationary
vacuum-cleaning business of the United States. The plants to be conveyed
will have about $500,000 liquid assets, the remainder being In plant, real
estate. Ac.
For the first 6 months of the current year, beginning May 1 1910, we are
Informed, the volume of business of the McCrum-Howell Co. has Increased
91% over the same period In 1909.
Of this Increase 51% has been In the
boiler, radlAtor and enameled ware departments and the remaining 40%
Is largely attributable to the vacuum cleaner department inaugurated dur¬
ing the past year.
Net
Earnings of McCrum-Howell Co. and the 5 Companies to be Taken Over
for Year ended April 30 1910.
McCrum-Howell Co, $391,099. five new companies, $183,996
$575,095
Preferred dividend on $3,500,000 (7%)
245,000
„
Leaving for common
$330,095
Being equal to 9.43% on the total common stock issue of $3,500,000.
With the earnings of the new properties and additional profits from the
business, it Is estimated that the new profits In the current fiscal year
should be $682,096.
Deducting the pref. dividend on the entire Issue of
preferred. $245,000, there will remain $437,096 applicable to the common
stock, being 1214% on that Issue.
The company
no bonded debt.—
V. 91, p. 1096, 592.
Manufacturers'
Light & Heat 0o.y Pittsburgh —Earn¬
ings.—Foi 9 months ending Sept. 30:
New Director.—Vice-President E. H. Stedman has been
elected a director to succeed the late President Dudley
Evans.
No successor as President has yet been chosen.—
V. 91, p. 1098, 1040.
Western Power Co.—Proposed
lease of the property of the Great
Lease.—Negotiations for a
Western Power Co. (whose
capital stock is all owned by the Western Power Co.) to the
Pacific Gas & Electric Co. have progressed to the point that
a contract is now being drawn.
The proposed lease is for
the life of the bonds of the Great Western Power Co. at a
rental providing for the payment of the interest and sinking
fund of the same; also for dividends on the Western Power
Company's stock, the common at rate of 2)^% for 1912 and
1913, and increasing thereafter % of 1% yearly until the rate
reaches 7%, at which it will remain until the expiration of
the lease. The lease provides for a sinking fund for the
bonds, maintenance of the property, &c. The Western
Power Co. has outstanding $12,000,000 common stock; also
$5,220,000 of its auth. issue of $6,000,000 stock, 6% pref.,
cumulative after Jan. 1 1912.
above; also V. 89,
p.
See Great Western Power Co.
1283.—V. 89,
For other Investment News
see page
p.
1188.
605.
,K
THE CHRONICLE
[Voi,.
uxut
fjkpartg and jfontmjettlg,
UNION PACIFIC RAILROAD COMPANY.
THIRTEENTH ANNUAL REPORT—FOR THE YEAR ENDED JUNE 30 1910.
New
To the Stockholders of the Union Pacific Railroad Company:
York, October 3 1910.
The Board of Directors submit herewith their
report of the operations and affairs of the Union Pacific Railroad
Company
and its Auxiliary Companies for the fiscal year ended June 30 1910.
The combined operations and affairs of the Union Pacific Railroad
Company, the Oregon Short Line Railroad Company,
and The Oregon Railroad & Navigation
Company are herein designated for convenience by the term “Union
Pacific
Railroad and Auxiliary Companies.”
PROPERTIES AND MILEAGE.
The Union Pacific Railroad and Auxiliary Companies owned or controlled
by
1910, the following railways and water lines:
ownership of stock
First
Main
Track.
Companies.
or
by lease,
Additional
Main
Track.
on
June 30
Sidings.
Water
Lines.
Mileage of Railways
■
owned by:
Union Pacific Railroad Co
Oregon Short Line Railroad Co
Oregon Railroad & Navigation Co
3,390.60
1,178.12
1,142.70
Mileage oj Lines belonging to Companies whose Capital Stocks
and Auxiliary
are
to them:
375.61
281.43
_
6.368.46
owned
Mileage oj Lines operated under leases
or
Union Pacific Railroad Co
Oregon Short Line Railroad Co_
Oregon Railroad & Navigation Co
Leased
Total June 30 1910
Total June 30 1909
•
„
_
__
_
__
Increase
The details of
391.61
218.26
195.00
70.91
538.91
34.36
6.00
1,950.07
201.00
trackage rights jrom other Companies:
_
Comptroller.
1,234.93
entirely owned by the Union Pacijic Railroad
Companies but which are operated under leases
Oregon Short Line Railroad Co..
Oregon Railroad & Navigation Co
Total
528.62
10.29
mileage of railway and water lines
are
27.46
2.89
2.54
19.75
32.89
22.45
2.70
6,401.35
6,229.86
538.91
474.87
1,972.52
1,894.18
201.00
195.00
171.49
64.04
78.34
6.00
shown in Table No. 1 of the report of the Vice-President and
The additions to miles of
railway owned or
tracks of the respective companies and
operated and the changes during the year in first and additional
companies organized in their interest, were as follows:
Additions.
First
Main
Track.
Union Pacijic Railroad:
Oshkosh to Northport, Nebraska, built, opened for traffic Nov. 1
1909
Sand Creek Junction to St. Vralns, Colorado,
built, opened for traffic Nov. 1 1909
Greeley to Brlggsdale, Colorado, built, opened for traffic May 22 1910.
Cloverly to Hungerford, Colorado, built, opened for traffic May 22 1910
main
Deductions.
Additional
Main
Track.
First
Addit'l
Main
Main
Truck.
Track.
44.47
17.45
26.16
13.16
.03
Oshkosh to Northport, Nebraska, remeasurement
Carr to Cheyenne, Wyoming, taken up
Carr to Cheyenne, Wyoming, first main track transferred to
sidings
Nebraska Division
14.79
1.70
47.76
10.57
Wyoming Division..,
Oregon Short Line Railroad:
Cache Junction, Utah to Preston, Idaho, built,
opened for traffic
Ogden to Sandy, Utah, built
Nov. 30 1909
.02
5.71
Si. Anthony Railroad:
Elva to Menan, Iadho, built
.01
Oregon Railroad
& Navigation Co.:
Albina to connection with Oregon & Washington
Railroad,
Wallula to Walla Walla, Washington, remeasurement
Fairfield to Waverly, Washington, remeasurement
Wallace to Burke, Idaho, built
built
.14
.62
.10
.19
.05
*_
Between Front and Third Streets, Portland,
Oregon, transferred from sidings
Umatilla, Oregon, to Wallula, Washington, remeasurement
Pendleton, Oregon, to Grange City, Washington, remeasurement
Wallace to Burke, Idaho, taken up
.14
.37
.12
Lake Creek & Coeur d'Alene Railroad:
Lake Junction,
Washington, to I^ke Point, Idaho, built, opened for traffic
June 121910.
14.18
Oregon Washington & Idaho Railroad:
Lewiston Junction to Lewiston, Idaho, operated since
Dec. 3 1909 by the Camas Prairie Railroad Co.
for account of the Oregon Railroad &
Navigation Company
72.03
Total
Net
Increase
During the
year
there
188.61
64.04
171.49
64.04
increase in sidings of 78.34 miles and in water lines of 6.00 miles.
railway operated for the year, for which the accompanying statements of
6,290.22 miles.
was a net
The average number of miles of
and expenses are
submitted,
was
INCOME FOR THE YEAR.
The gross revenues and expenses
of the Union Pacific Railroad and Auxiliary
accounts between
them,
were as
follows:
Average miles of railway operated during the
year
_
revenues
Companies, after excluding all offsetting
1910.
1909.
6,296.22
Increase
(+) or
Decrease (—).
6,062.13
+234.09
$77,360,429 36
+$11,146,036 08
TRANSPORTATION OPERATIONS.
„
Gross operating revenues
Outside operations—revenues
Total
Operating
_
revenue
expenses
Outside operations—expenses
Taxes (rail lines and property dealt with
_
as
Total expenses and taxes
.S3
17.12
t
Revenue
over expenses and taxes.
outside operations)
$88,506,465 44
1,721,626 76
.
1,390,032 19
+ 331,594 57
$90,228,092 20
$78,750,461 55
+ $11,477,630 65
$45,132,681 73
$36,503,075 95
1,806,227 61
3,264,347 51
1,442,009 61
2,570,561 89
+ $8,629,605 78
+ 364,218 00
+ 693,785 62
$50,203,256 85
$40,515,647 45
+ $9,687,609 40
$40,024,835 35
$38,234,814 10
+ $1,790,021 25
Ocm 2?
1165
THE CHRONICLE
19io.!
Charges.
1910.
1909.
$12,455,577 15
$13,331,368 07
14,928 71
12,013 33
1,389,483 26
14,029 36
$14,409,614 82
$14,746,894 02
16,013 33
1,923,095 63
Rentals for lease of road—balance
Rentals from joint tracks, yards
Miscellaneous rentals—balance
Miscellaneous Income
and terminal facilities—balance
—$875,790 92
+ 4,000 00
+ 533,612 37
+899 35
—
$337,279 20
$330,547 55
42,780 90
o.oeo on
Surplus from transportation operations
Increase t -H or
Decrease (—).
after payment of charges
+4,330 76
378,418 51
374,087 75
$14,031,196 31
$14,372,806 27
$25,993,639 04
$23,862,007 83
+ $2,131,631 21
$3,981,760 00
13,022,319 50
$3,981,760 00
11,806,996 33
+ $1,215,323 17
240 00
64 00
+ 176 00
$17,004,319 50
$15,788,820 33
+ $1,215,499 17
$8,989,319 54
$8,073,187 50
+ $916,132 04
$1,263,983 16
$1,119,155 80
+ $144,827 36
15,298,078 00
2,559,720 18
304,800 00
14,711,806
1*556,659
304,800
2,576
59,761
72
64
00
40
52
+ 586,271 28
+ 1,003,060 54
$19,514,827 87
2,776 52
$17,754,760 08
+ $1,760,067 79
18,366 65
—15,590 13
$19,512,051 35
$17,736,393 43
+ $1,775,657 92
8,681,546 35
7,871,330 89
+ 810,215 46
$10,830,505 00
$9,865,062 54
+$965,442 46
$19,819,824 54
$17,938,250 04
+ $1,881,574 50
*
—$341.609 96
Application o) Surplus.
Dividends
stocks of Union Pacific
on
Railroad Co.:
preferred stock of the Oregon Railroad &
Dividends on
Navigation Co. In the hands of the
public
INCOME OTHER THAN FROM TRANSPORTATION OPERATIONS.
Interest on bonds owned of companies other than Oregon Short Line Railroad and Oregon
Railroad Se. Navigation Cos. (Table 16) _ .
Dividends on stocks owned of companies other than Oregon Short Line Railroad and Oregon
RailrnAf1 8r. Navigation Cos. ('Fable 17)
_
_
...
...
Balance of Interest onToans and on open accounts other thaD with Auxiliary Companies..__
.
Rentals from steamships
Net income from lease of unpledged lands and town lots.
UlanRlIanmiiR
receipts
Total
Less—Miscellaneous
_
_
.. r..
928 13
—
__
_
87,318 40
_
...
payments
^
...
...
Total Income other than from transportation operations
Deduction:
Dividends on stocks of Union Pacific Railroad Co.:
4 per cent on common stock
.
Surplus Income other than from transportation operations
Total surplus from transportation operations and from
The results of the
other Income after payment of divid'ds
year’s operations, compared with those of the preceding year, were as
follows:
Taxes
.Z'
1__
--
-
_
______
1
_Z
_
__
Revenue over expenses and taxes
.
Income other than from transportation operations
Total Income
1
Z___
...
.
_
.
i
..
_ _
_.
_
Fixed
charges
Surplus over fixed charges
Per
Cent.
Decrease.
Increase.
Average miles of railway operated
Gross operating revenues and revenues from outside operations
Operating expanses and expenses of outside operations
—1,648 27
+ 27,556 88
234.09
$11,477,630 65
8,993,823 78
693,785 62
1,790,021 25
R775.657 92
3,565,679 17
$341,609 96
^
3,907,289 18
3.86
14.57
23.70
26.99
4.68
10.01
6.37
2.38
9.39
The increase in taxes resulted from the payment of the Corporation Tax, amounting to $343,797 71, levied under
Section 38, Act of Congress, August 5 1909 (which was paid under protest), and from an increase in tax rates and assess¬
Since the year 1900 the payments for taxes have increased from $1,231,622 53, or $226 03 per mile of road, to
ments.
$3,264,347 51, or $512 58 per mile of road, an increase of 126.76 per cent.
The details of the transportation revenues and expenses are fully dealt with under “Transportation Operations.”
to the operating expenses the protection of
improved type of frogs, switches, fastenings,
expenditures for Additions and Betterments
promulgated by the Inter-State Commerce Commission, effective on July 1 1909, requires that these items be charged to
Prior to July 1 1909 it was the practice of these Companies to charge
banks and drainage, the increased weight of rails, the greater weight and the
and of other track material used in making renewals.
The classification of
Additions and Betterments.
The expenditures during
For
For
For
For
the
year
protection of banks and drainage.
Increased weight of rails
Improved frogs and switches
track fastenings and other track material
Total
for such items were:
$50,184
829,154
2,350
93,747
1
—
—
93
12
04
17
$475,436 26
__T__
As required, these expenditures were charged to Additions and Betterments and the Operating Expenses were cor¬
respondingly lessened. The Companies also charged to Operating Expenses all Additions and Betterments which did not
exceed in the cost of any one improvement the sum of $300.
This limit was in the classification of the Inter-State Com¬
merce Commission reduced to $200, which also lessened the usual charges to Operating Expenses.
The expenditures for “Betterments” (enlargements or improvements of the existing roadway, structures, equipment
or other facilities) amounted to $2,144,094 45; the expenditures for “Additions” (additional roadway, structures, equipment
or other facilities not taking theplace of anything previously existing) amounted to $9,265,§50 36, a total of $11,410,044 81,
charged to Capital Account. The details of these expenditures are shown in Table No. 25.
The details of the fixed charges for the year are shown in Table No. 15 and of the interest and dividends collected
bonds and stocks owned in Tables Nos. 16 and 17.
From the Trustees of the Union Pacific Railroad Company’s First Railroad and Land Grant Mortgage there was
received during the year the sum of $2,050,000 00, proceeds from sale of lands and money received on account of interest
and principal of bonds of the Union Pacific Land Company, as shown in detail in Table No. 18.
Under the provisions
of the mortgage, this sum was applied to the payment of betterments, improvements, equipment, <fec., not otherwise
The total sum received from the Trustee to June 30 1910 amounted to $17,648,252 12.
for.
on
paid
CAPITAL STOCK.
Stocks of the Union Pacific Railroad and Auxiliary
of the year, viz.:
Common Stock.
Pre*
‘referred -
Companies outstanding in the hands of the public at the beginning
IIIIIIIIIIIIIIII
'
Issued during the year:
Union Pacific Railroad Company Common Stock Issued In exchange for $30,231,950 face value
Twenty-Year Four Per Cent Convertible Bonds converted at the rate of $175 per share of
I-II_-I.I-.I-
$199,322,400 00
99,547,410 00
Union Pacific Railroad
$100 par value
$298,869,810 00
17,275,400 00
$316,145,210 00
Amount of stock outstanding in the hands of the Public June 30 1910. viz.:
Preferred Stock..
)
99,547,410 00)
7
-$316,145,210 00
Increase during the year
___
$17,275,400 00
1166
THE CHRONICLE
[VOL.
The total amount of stocks issued and
outstanding, and the amount owned
are shown in detail in Table No. 7.
Companies
by the Union Pacific Railroad
LXXXXI
and
Auxiliary
FUNDED DEBT.
Bonds of the Union Pacific Railroad and
Auxiliary Companies outstanding In the hands of the Public at the beginning of the
Issued during the year:
year
Union Pacific Railroad Company.
First Lien and Refunding Four Per Cent U. S. Dollar Bonds:
$322,785,800 00
Sold
Thirty dollars
per
bond of £200 received
in
$4,902,000 00
exchanging £12,000 Sterling bonds for $60,000 U. S. Dollar bonds
1,800 00
$4,903,800 00
_
Deduction—Bonds converted or acquired:
Union Pacific Railroad Company:
Twenty-Year Four Per Cent Convertible Bonds converted into Common Stock
bonds for each $100 par value in stock
Oregon Short Line Railroad Company Income “A” Bonds acquired but Included
Union Pacific Railroad and Auxiliary Companies..
$327,689,600
at the rate of
$175 face value In
$30,231,950 00
In statement of bonds owned
by
8,500 00
30,240.450 00
Amount of bonds outstanding In the hands of the Public June 30 1910
$297,449,150 00
^
Decrease during the
year
00
—
$25,336,650 00
The total amount of bonds issued and
outstanding,
are shown in detail in Table No. 8.
Companies
and the amount
owned
by the Union Pacific Railroad and Auxiliary
ASSETS AND LIABILITIES.
The assets and liabilities of the Union Pacific Railroad and
Auxiliary Companies are shown in detail in Table No. 5.
The securities owned are stated after
eliminating all offsetting accounts between the companies, thus dealing only with the
securities in the hands of the public, the assets collectible from
the public ancj the liabilities
payable to the public.
The increase or decrease in assets or liabilities since last
report, briefly stated, is
Increase in Assets:
Cost of railways, equipment and appurtenances as shown In detail
under "Capital Expenditures"
Demand loans to Southern Pacific Co
Other demand loans and time deposits
Loans to Utah Light & Railway Co
Expenditures for the construction of
Rolling stock
Ocean steamships
new
as
follows:
$10,901,568 97
8,650,000 00
lines and for terminal properties
$9,747,516 32
2,694,743 32
1,013,167 38
Due from Proprietary Companies..
Material, fuel and supplies
$11,947,075 57
19,551,568 97
2,155,392 63
13,455,427 02
343,558 40
1,547,665 72
1,731,230 24
Current cash accounts
Total
$50,731,918 55
Deduction—
Decrease In cash on hand
*
Loans to San Pedro Los Angeles & Salt Lake RR. Co
$17,908,362 35
Stocks and bonds of other companies disposed of
3,099,371 69
or acquired as shown In Tables 9, 10 and
11, viz.:
Stocks and bonds sold
$24,858,104 60
Stocks transferred to other accounts
348,750 00
Total
1
$25,206,854 60
Les*:
Stocks acquired under subscription rights and
stocks purchased
$15,801,981 69
Stocks taken over In settlement of accounts
834;500 00
Bonds purchased and bonds taken over In
settlement of accounts
7,156,097 50
Total
$23,793,479 19
==========
Adjustments In contingent unadjusted accounts
$1,413,375 41
818,740 52 23,239,849 97
Net Increase in assets
Decrease In Liabilities:
$27,492,068 58
Funded debt
$25,336,650
00
Deduction—
Increase in common stock
Due to Proprietary Companies
$17,275,400 00
Current cash accounts
600,756 48
1,975.373 36
\
Reserve for depreciation of steamships and
equipment
188,330 56
20,039,860 40
5,296,789 60
Increase in assets In exsess of Increase in liabilities
(gain in Profit and Toss)...
$32,788,858 18
.
,
'
.
With the exception of 7,249 shares
(jiar value $100 each) of Northern Securities
has sold all the stock of the Northern Securities
Company “Stubs,” the company
Company, the Great Northern Railway Company and the Northern Pacific
Railway Company, received in the distribution of the assets of the Northern Securities
Company and the stocks subsequently
acquired by subscription rights.
The following statement shows the transactions
out of the original investment in the 824,918.71 shares of the
capital stock of the Northern Securities Company andgrowing
the re-investment of the
proceeds received from the sale of the respec¬
tive stocks:
Stocks
Acquired.
Stocks Sold.
Stocks
on
Hand. Unsold,
June
Company.
Shares.
Northern Securities Co
Great Northern Ry. Preferred
"
"
(a) 824,918.71
"
Subscription
_
Receipts
(50, 6? v$ and 75%
Northern Securities Co. "Stubs”
34,516
paid)
Shares.
$79,459,691 36 100,000.18
7,358,960 00 290,709.89
281,837 50
2,000.60
(ft)
90,364
(a)
282.828.82
2,290,912 50 34,516
73,589.69
2,600
90,364
Subscription Receipts
Great Northern Iron Ore Properties.
Northern Pacific Ry.
“
**
Cost.
Northern
Securities
investment
$89,391,401 36
Re-investments.
Atchison Topeka & Santa Fe, Preferred
Baltimore & Ohio Preferred
*
Common
Chicago Milwaukee
& St. Paul Preferred
"
"
Common
Chicago & North Western Railway Common
Chicago & Alton Railroad Preferred
Illinois Central Railroad
New York Central & Hudson River
Railroad
Railroad Securities Preferred
"
Common
"
__
Total reinvestments
100,000
72,064
323,342
18,450
72,800
"
“
_
....
$16,880,019
65,541,736
255,940
6,658,676
54,986,401
3.054.509
.1871
_
Total
Amount
Realized.
40,187.50
103,431
231,415.65
178,571
19,359
34,834
$10,395,000
6,665,920
38,801,040
1,845,000
9,765,187
6,750,423
’
8,946,781
37,692,256
23,205,679
1,956,184
4.980,512
30 1910.
Shares.
Cost.
7,249
(«)
Average
Cost per
Share. 1
46
66
98
98
91
50
56 13
$147,377,341 62
00 100,000
00
00
00
74 72,800
94
50
21
6,415.65
93
26
10
$10,491,703 14
72,064
323,342
18,450
$6,665,920 00
38,801,040 00
1,845,000 00
9,982,186 63
»v
40,187.50
103,431
948,805 73 225,000
178,571
19,359
34,834
$151,003,985 68
$21,422,695 50
$240,395,387 04
$168,800,037 12
Total
92.50
120.00
100.00
-
-
-
6,750,423
8,946,781
36,743,450
23.205,679
94
50
48
93
1,956,184 26
4,980,512 10
167.97
86.50
163.30
129.95
101.05
140.39
$129,894,992 21
$129,894,992 21
TP?. 724,918.71 shares of Northern Securities Co. stock, there were received in exchange 216,520.8949 shares of Great Northern
281,828.8215 shares of Northern Pacific
Ry. Co. stock;
Ry^ Co. stock and 7,249.1871 shares of Northern Securities Co. Stubs.
(b) Included in the $79,459,691 36 original
cost of Northern Securities Co. stock.
In Table No. 5 the
proceeds from the sales of the above stocks
bonds.
are
treated
as a
credit
against the cost of stocks and
OOT. 29
THE CHRONICLE
1910.]
1167
The stocks and bonds owned, other than stocks and bonds of the Union Pacific Railroad and Auxiliary Companies,
stand charged at the close of the year with $208,561,011 65.
This charge includes not merely the above stocks and bonds
but also the other stocks and bonds shown in detail in Tables Nos. 9, 10 and 11.
The details of the stocks and bonds of the Union Pacific Railroad and Auxiliary Companies issued and outstanding
are shown in Tables Nos. 7 and 8.
From Table No. 8 it will be seen that the Companies own bonds, unpledged, to the
amount of $79,767,500 00 face value.
^
^
CAPITAL EXPENDITURES.
charges to capital account, other than for stocks and bonds in companies other than the Union Pacific Railroad
Auxiliary Companies, were as follows:
The
and
Expenditures for account of tbe construction of railways taken over Into cost of railways, equipment and appurtenances
Expenditures for account of extensions and cost of extensions transferred from deferred assets, viz.*
Union Pacific Railroad Company:
Cloverly to Hungcrford, Colorado
$264,477 01
Dent to Fort Collins, Colorado
501,210 53
Grant Mine to La Salle, Colorado.
442,515 78
813,474 97
Greeley to F<rlggsdale, Colorado
509,016 56
Onaga to Marysville, Kansas.
to
North
O’Fallons
port, Nebraska
287,479 51
Pine Bluffs Branch, Wyoming
27 98
Rock Springs to Coal Fields, Wyoming
7,236 60
Sand Creek to St. Vralns, Colorado
484,917 09
Summit to Lane, Nebraska
24,478 56
$149,289 60
$2,834,834 59
Oregon Short Line Railroad Company:
Kemmerer to North Kemmer^r, Wyoming
Oregon Railroad & Navigation Company:
Coyote to Echo, Oregon
St. John’s to Troutdale, Oregon..
45 33
$6,918 84
265,409 55
$272,328 39
Less credit:
Elgin to Joseph, Oregon
17,121 73
255.206 66
3,090,086 58
Expenditures for Additions and Betterments (Table No. 25), viz.:
Roadway, Track and A ppurtenances—
BaUast
$138,722
346,213
660,244
425,251
399,013
Bridges, trestles, culverts and grade crossings
Changes In line, revision of grades, widening embankments and tunnel Improvements
Increased weight of rails. Improved frogs and switches, track fastenings and appurtenances
Interlocking, block and highway crossing signals
32
81
94
33
78
4,985,227 97
Main tracks
Real estate, right-of-way and station grounds and fencing right-of-way.
1,176,017 29
777,732 51
92,556 42
Sidings and passing tracks
Telegraph ana telephone lines
$9,000,980 37
Buildings, Structures and Appurtenances:
Engine houses, shops, machinery, tools, etc
$400,873 27
Roadway, buildings, machinery, tools, &c
,
173.284 26
Station buildings, terminal yards and appurtenances
Water and fuel stations
463,371 75
311.566 30
1,349,095 58
Equipment:
Additions and improvements to existing equipment
23 locomotives
61 passenger-train cars...
1,758 freight-train cars
756 work equipment
343,675 97
302,482 64
^
380,926 96
1,710,027 32
161,506 79
...
$2,598,619 68
Lcssi
12 locomotives, 20 passenger-train
vacated during the year..
2,080 freight-train
cars,
cars
and 256 work equipment.
1,538,650 82
1,059.968 86
’*25’777 62
Improvements to Northern Pacific Terminal property, Portland, Oregon. —
Adjustment lu amount deducted from cost of railways, equipment and appurtenances on account of the difference between the face value of
stocks and bonds of the Auxiliary Companies and the prices at which they were taken over
98,259 38
*
Total charges
$14,773,457 99
Credits:
^
^
Amount received from the Trustee of the Union Pacific Railroad Company’s First Railroad and Land Grant Mortgage.
“
►
$2,050,000 00
In payment for expenditures for betterments, Improvements, equipment, &c., not otherwise provided for
Abandoned property not to be replaced (rail lines)
442,813 80
Floating equipment sold
—
*a
'
233,163 62
— r
Real estate sold
B| a
^
100,405 00
2.826.382 42
Net expenditures for capital account
.$11,947,075 57
LAND DEPARTMENT.
provisions of the Union Pacific Railroad Company’s First^Railroad and Land Grant Mortgage, the net
proceeds from the sale of lands, after payment of expenses and taxes appertaining thereto and all sums of money re¬
ceived on account of interest or principal of the bonds and for dividends upon the stock of the Union Pacific Land Company,
are set apart and held by the Trustee as a Cash Improvement and Equipment Fund to reimburse the Railroad
Company
for any expenditures for betterments, improvements, equipment, or for other properties not paid for out of other funds
or charged to operating expenses or cost of maintenance.
The amount received from the Trustee during the year and
thus applied was $2,050,000 00.
The transactions in respect of the above-mentioned lands for the year were as follows:
Under the
Number of acres sold..
T
Total amount of sales (cash and principal of deferred payments)
Interest on deferred payments and other collections
—
.
after deducting expenses
3480,261 26
386,301 45
$866,562 71
^
Average price received
210,017 63
per acre
Number of acres of land remaining unsold June 30 1910
Estimated value of lands and town lots remaining unsold June 30
Land contracts outstanding June 80 1910
-
The details of the year’s transactions and the
Nos. 18, 19, 20 and 21.
1910
$2 70
975,127.50
$1,098,299 76
$4,544,776 25
—
account with the Trustee in respect of said funds
are
shown in Table*
ADDITIONS AND BETTERMENTS.
The expenditures for Additions and Betterments amounted to
The details of these expenditures are shown in Table No. 25. The
$11,410,044 81, and were charged to capital account
changes in line completed or in course of construction
principal additions and betterments to the roadway, track and appurtenances, were as follows:
and other
Maximum Grade,
Feet per Mile.
New Lines.
Changes in Line.
-
Union Pacific Railroad:
Hanna to Rawlins Wyoming
Kansas City to Topeka. Kansas
Carr, Colorado, to Cheyenne. Wyoming
Carr, Colorado, to Borle, Wyoming
St. Vralns to Grant Mine, Colorado
*
*
.f
v’
*•
:
.
*
*
*
,.
4_'.
v
„*
‘.. *
7*
•
.
.
1
!i
:
*'
East or North
Bound.
West or South
Bound.
{Degrees.)
Old
Line.
New
Line.
Old
Line.
New
Line
345.35
2.00
492.10
671.43
1.30
43
79
84
84
71
43
19
53
43
79
96
95
53
43
19
53
63
37
Length of
Track.
Distance
Saved.
Curvature.
{Miles.)
{Miles.)
38.23
14.75
•3.74
13.30
4.90
.26
.12
.75
13.17
.10
Saving in
%
11
for Traffic
In progress
June 11906
Dec. 6 1908.
June 13 1900
.
Exdudes 7.93 miles of the Carr to Borle line, which will form part of the new Carr to Cheyenne
'
Date Opened
to the PubUc
line.
*
Descending grades lor the entire
4
1168
THE CHRONICLE
{VOI.. LXlCXXI.
scasmmm*
Roadway,
Track
Appurtenances.
and
Total.
Track ballasted with stone (track miles)
Track ballasted with gravel (track miles)
Wooden
Wooden
Wooden
Wooden
structures replaced with steel structures (lineal
structures
structures
structures
feet)_—
replaced with I beam concrete structures (lineal feet)
replaced with culverts (lienal feet).replaced with embankments (lineal feet)
Total wooden structures replaced
5.71
54.52
151.00
3,224.70
354.00
15.00
185.00
403.80
8,5.70
2,956.00
4,825.50
1,231.00
636.50
2,956.00
354.00
156.00
71.00
828.00
46.00
30.00
110.00
354.00
1,595.00
1,414.00
181.00
183.00
179.00
163.00
92.00
1,652.00
3,347.00
436.00
20.00
87.00
568.00
2,168.00
1,179.00
12.65
60.75
315,565.00
—
replacing embankments (lineal feet)
Steel structures built replacing wooden structures (lineal feet)
Steel structures built replacing embankments (lineal feet)
Steel structures replaced with heavier structures (lineal feet)
Combination structures replaced with steel structures (lineal feet)
Total concrete and steel structures put in place (lineal feet)
-
Masonry used In bridges, trestles and culverts (cubic yards)
Right of way fenced (track miles)
Automatic electric block signals built (track miles)
Number of interlocking towers built
Number of levers In interlocking signal towers built
Main track built (miles)
Additional main track built (miles)
1
Material moved In revision of grades (cubic yards)
Material moved in widening cuts and embankments and filling trestles (cubic
Snow and sand fences built (track miles)
828.00
354.00
418.80
677.00
(lineal feet)
-
64.76
156.00
71.00
677.00
46.00
__
Sidings, passing tracks and yard tracks built (miles)
Sidings, passing tracks and yard tracks taken up (miles)
Additional telegraph and telephone lines (pole, wire and
fixtures) constructed (miles)
Telegraph and telephone wire strung on existing poles (miles)
151.00
30.00
96.00
6.52
77.60
1
20
.03
5.71
10,857.00
368,961.00
10,857.00
47,161.00
6.38
90.70
17.42
97.00
6,235.00
5.62
42.63
15.05
2,450.98
1,996.32
„
Roadbed widened (miles)
Excess weight of rails (new and old) used in renewals (tons)
•
.
110.00
79.92
311.47
3
39
.03
101.77
yards)
:
4.53
— -—------
Wooden structures built replacing embankment (lineal feet)
Stone, concrete or brick arch culverts (lineal feet, transversely to track)
Iron pipe culverts (lineal feet, transversely to track)
.77
3.76
54.52
-
—
.77
63.99
5.71
I beam concrete structures replacing wooden structures (lineal feet)
I beam concrete structures replacing steel structures (lineal feet)
I beam concrete structures
Union Pacific Oregon Short Oregon RR. A
RR. Co.
Line RR. Co.
Nav. Co.
233.87
2
19
648.00
.76
32.97
1.39
97.00
443.00
21.10
.98
11.00
70.67
70.67
7,262.56
1,070.00
4,220.06
1,372.50
EQUIPMENT.
accounting regulations of the Inter-State Commerce Commission in respect to charges for “Additions and Betterments, effective July 1 1909, require that the original cost (estimated if not known) of equipment retired be credited,
and the cost of equipment acquired be charged directly to the
equipment accounts, The changes during the year in the
equipment, dealt with in accordance with these regulations, were as follows:
The
Condemned, Destroyed, Sold
or Transferred to another
Added and Charged to—
Class and Credited to
Union
Equipment.
Number.
Locomotives
12
Baggage cars
Baggage, mail and passenger
Baggage and mail cars
Baggage and passenger cars
Business cars
Chair cars
Equipment.
Original Cost.
Number.
$107,855 01
Motor
cars.
Cost.
35
Number.
$646,622 38
Cost.
58
26
$849,105 02
47
1
10
"8
id
.
cars.-—-cars
10
"8
cars
Total passenger-train cars
20
Box cars
Caboose cars
Flat cars
Furniture cars
Gondola cars
Gondola (D. B.) cars.
Gondola (H. B.) cars.
$172,252 47
61
$380,826 86
1,131
746
13
57
272
317
2
25
50
250
2
449
36
242
cars
210
25
Total freight-train cars
73
134
$1,003,005 13
1.142
•1
2
150
*100
•25
110
$1,144,276 39
1,757
$1,710,027 32
T04
256
$114,266 95
756
$161,506 79
458
$1,538,650 82
$712,078 17
*299
2,080
Total
32
11
'250
6
Work Equipment.
6
4
396
•26
•50
4
Stock cars
Tank (Oil) cars
Narrow gauge cars...
'id
2
6
4
27
5
11
cars.
Refrigerator
$302,482 64
Total.
-
Observation cars
Passenger cars...
Postal
Number.
21
1
2
3
Composite
Dining
Cost.
23
Pacific Equipment
Association.
$2,554,943 71
•$127,717 69
1,653
$1,582,309 63
$573,085 71
1,214
$734,592 50
$1,804,068 57
$4,358,012 28
Credit.
The
original cost, salvage value and amount charged to the operating expenses of the equipment retired during the
follows:
year were as
Passenger-Train
Freight-Train
Work
Cars.
Cars.
Equipment.
Locomotives.
Original cost (estimated If
Proceeds from sale
salvage value
or
Charged to operating
.
..•
i
-
not known)
expenses
Total.
$107,855 01
36.488 39
$172,25$ 47
92,838 07
$1,144,276 39
369,951 93
$114,266 95
32.210 05
$1,533,650 $3
531,488 44
$71,366 62
$79,414 40
$774,324 46
$82,056 90
$1,007,162 33
!
*
t
The locomotives added during the
year averaged 120.74 tons total
upon drivers, and freight-train cars 46.27 tons capacity.
The number of locomotives and cars of standard
gauge owned and
cats at the close of the yeaf Were as follows:
weight of engine, without tender, and 87.24 tons
the total and the
This Year,
Locomotives
Total weight ,
excluding tender (tons)
Average total weight, excluding tender (tons)
Total weight Of) dHvers (tons)
Average total weight on drived (ton*)
*
±=s
m*•*■*-*»
«•
passenger-train cars.
►
Freight-train cars.
Total rapacity (tone)...
Average capacity (tons)
Tj^W'lo »'■]
«|»
I
m -
-
r
-
-
11»7
'
--«*«■>
*<*;**»'*»' —
W
**
■
*4
— -
-
— -
Last Year.
Decrease.
46
Per
Cent.
4.23
6.44
6.40
6.28
1,087
89,808
87.82
82.54
5.28
78.841
74,182
4,659
69.52
68.18
1.34
1.96
824
710
114
16.05
39.59
H.P
37.22
5.788
29,388*
,
•
2.3 7
421
m ■m- jw.im •>>•*** 1* w ***» *
r -;r
1.59
2-98
6.3® ‘
sacs
4,386
1-
3,728
t.m
*the equipment owned by the respective
companies is shown in Table No. 24.
capacity, and the service of all equipment are shown In Tables No*.
8Qr SI and 82,
Increase.
1,133
85,596
i. [4,1
_
Work e<$trtflmetit-.*—
■iWiih it-
-
—
capacity of freight-train
average
88$
M.70
A—
The changes during the year,
the
Oot. 29
THE CHRONICLE
1910.]
1169
—q.—j—rr
The results of the
TRANSPORTATION OPERATIONS.
year’s transportation operations compared with those of the preceding
Last Year.
This Yew.
year are as
follows:
Decrease.
Increase.
PerCt.
6,296.22
6,062.13
234.09
3.86
620,814,619 96
4,509*484 87
61,479,679 70
1,702,581 41
$17,672,357 06
4,354,717 19
54,000,195 46
1,833,159 65
$3,142,462 90
154 717 18
17.78
3.55
7,479,484 24
369,371 76
if
u:l?
$86,506.46$ 44
1,721,626 76
$77,360,429 36
1,390,032 19
$11,146,036 08
331,594 57
14.41
23.86
$90,228,092 20
$78,750,461 55
$11,477,630 65
14.57
Average miles of railway operated
Revenues—
Passenger, Including excess baggage...
Mall and express
Freight
Switching, rentals and all other sources
Total revenues
Outside operations—revenue
Total revenues
Operating Expenses—
$9,915,481
9,061,519
1,985,017
22,205,806
1,964,856
Maintenance of way and structures
Maintenance of equipment
Traffic expenses
Transportation expenses
General expenses
—
$45,132,681 73
1.806,227 61
Total rail lines—
Outside
operations—expenses.-
Total expenses
Gross
—
revenues over
65
48
61
68
31
total expenses
Passenger TraJJic—
Revenue passengers carried
Revenue passengers carried one mile
Revenue from passenger trains per mile of road
Revenue from passenger trains per revenue train mile
Average revenue per passenger per mile
Average distance carried..
$7,682,146
7,434,599
1,563.030
17,914,908
1,908,390
16
$2,233,335
1,626,920
421,986
4,290,897
49
21
76
76
29.07
75
56,465 56
2.96
$36,503,075 95
1,442,009 61
$8,629,605 78
23.64
364,218 00
25.26
27
85
92
21.88
27.00
23.95
$46,938,909 34
$37,945,085 56
$8,993,823 78
23.70
$43,289,182 86
$40,805,375 99
$2,483,806 87
6.09
7,190,853
1,116,077
165,535,234
$388 59
15.52
20.32
10.69
8,306,930
960,734,084
$4,022 14
$1 63
(a)
2.122 cents
115.65 miles
795,199,750
$3,633 55
$1 77
$0.14
2.169 cents
110.58 miles
.047 cents
7.91
2.17
4.58
5.07 miles
Freight Trafjtc (Wag-hill Tonnage)—
Tons of revenue freight carried.
Tons of revenue frelvht- carried one mile
Revenue per mile of road
Revenue per revenue train mile
(6)
15,312,211
13,726,025
5,997,233,894
$9,764 54
$4 62
5,266,658,054
$8,907 79
$4 63
1.024 cents
345.78 miles
1.025 cents
343.33 miles
Average receipts per ton per mile—revenue freight
Average distance carried—all freight.
1°
.71
2.45 miles
(b) Revenue freight train and all mixed train miles.
Compared with the preceding year, the per cent of operating expenses (including
(including revenues from outside operations) was as follows:
expenses
of outside operations) to
the gross revenues
■
'
Revenue passenger train and ail mixed train miles.
$0.01
.001 cents
,
(tf)
11.56
13.87
9.62
.22
1,586,186
730,575,840
$856 75
Rail Lines
Rail Lines Only. and Outside
-
Operations.
For “Maintenance” (Maintenance oj
For “Operations” (Tragic Expenses,
Tot*! thf* jtmt
__
Way and Structures, and Maintennace o] Equipment)
Transportation Expenses and General Expenses)
21.44
29.55
_
.
_
Total last year
50.99
52.02
47.19
48.18
The operating revenues and operating expenses for the year distributed among the respective primary accounts pro¬
vided for in the classification of the Inter-State Commerce Commission are shown in Table No. 26. The details of passenger
and freight traffic are shown in Tables Nos. 27 and 28.
The expenses of the rail lines for “Maintenance” increased $3,860,265 70, or 25.53 per cent, and for “Operation”
$4,769,350 08, or 21.37 per cent, over last year . These increases have resulted principally from the higher wage schedules,
a greater amount of renewals than were made last year, and from an increase in mileage of locomotives and cars in revenue
service caused partly by the movement of additional traffic, by additional trains run and higher speed of the trains, „,
There are in service 23 gasoline motor cars.
The mileage of these cars, which aggregated 552,485 miles, is included
in the mileage statistics.
In the following statements the operating expenses, although distributed as provided for in the classification of the
Inter-State Commerce Commission, have been combined under comprehensive titles of accounts so as to present the year’s
expenses in a concise form.
MAINTENANCE OF WAY AND STRUCTURES.
This Year.
...
Frogs, switches and other track material
*
—
$3,934,307 27
4,236.374 39
Total material for roadway and track
Repairs of roadway and track.
97,348 51
583,232 41
41
05
65
$51,891 56
162,375 73
+165.24
24
36
$156,079 92
1,267,060
56,220
399,971
3,904
32,193
108,210
9,715
9,186
190,791
190,791 00
Total
+9.76
$85,879 7$
"7,692
475.021 88
19,507 33
25,982 96
29,223 37
35,169 23
Per Cent
+4.99
843,343 30
12,440 72
85,155 04
16 343 63
—
Decrease.
323.19
$2,878,427 35
2,969,813 62
392,453 76
448,674 58
1,243,315 24
Bridges, trestles and culverts
Buildings, grounds and appurtenances.
Show and sand fences ana snow sheds
Electric power, telegraph and telephone lines
Superintendence
Stationery and printingOther expenses
Abandoned property..
$31,404
1,663,355
346,554
837,113
$83,295 97
1,823,730 78
280,374 92
344,805 60
___
Ties
Rafis
Increase.
6,477.27
6,800.46
Average miles operated—first and additional main tracks
Ballast
Last Year.
—19.01
+ .92
!
>5.42
+42.66
+ 14.33
+47.43
77
82
94
93
47
53
84
27
00
+31.39
+49.41
+ 22.78
+49.81
—
—
+35.35
+ 100.00
$9,915,481 65
$7,682,146 16
$2,233,335 49
+29.07
$1,458 06
$1,185 26
$272 80
+23.02
Cost per mile all main tracks.
The increase in these expenditures resulted principally from the expenses incident to maintaining 323 miles of additional
main tracks and 78 miles or sidings, the renewal of a much greater number of ties, the higher wage schedules, and from
charges under the rules of the Inter-State Commerce Commission for property abandoned, formerly charged to Profit and
Loss.
Although the charge for the increase in weight of rails to Additions and Betterments has resulted in a diminution
in the charge for rails put into the track, the cost of the labor in making these renewals, which exceeded by 18.86 miles
the rails put in the track last year, is included in the above expenses.
The following rails, ties, tie plates and continuous rail joints were used in making renewals, and the entire cost thereof
was charged to operating
expenses, with the exception of $425,251 S3 for increased weight of rails and improved frogs
and switches charged to additions and betterments, in accordance with the classification of Expenditures for Additions
and Betterments promulgated by the Inter-State Commerce Commission.
>■>»>»»«?)...
i
...
■
"<*»
i
M*
—
I
■<
*
.*■>«
i
^
-m
,
„
This Year.
Mtteft of new steel nib...
Per cent of renewals of aH rill in track, including sidings...
Number of burttettlzed ties
Number of otberries:.
_________-_____v_....
Tfttdl numb* of tres—-
;i...
_
-
-----
..__
-
Number of tie plates
*
_
«..-****
—
The weight 6t
.
+I8J6
+199)996
927,279
+-1t»i9f0
l,97lJd9 wJ
+222)006
703.71
+250.42
v+mi
-+422.343
■-
w
.-*■
^^^t
Number of continuous rail joints.
......
T4T.219
2,194,506
Inc. (+) or
Dec i—).
**2:3
1,3*3,221
•M-lf
-
Squat to imies off oontmuoas track.-—
Equal to miles of continuous track—..
|(:
“
__
Equal to miles of continuous track
Per Cent of renewal of all ties in track. Including sidings
1,453,287
^
Last Year.
■,
fail3 p£r yafd fh main lines and* branches at the close of the
4vc.lt
+-79.07
■:wJl
year was as
foilnfrif *
1
'
1170
THE CHRONICLE
Miles o) First and Additional Main Tracks Operated,
Excluding Mileage Operated under Trackage Rights
90-15.
Total.
85-lb
80-lb.
IVOL.
75-lb.
70-lb.
67-lb.
62-lb.
60-®.
LXXXXI
Lessthan
56 lb.
56-tb.
Main line
Branches
4,081.29 1,163.65
18.92
2,677.67
32.29 1,532.08
1.42
23.55
605.06
190.07
744.12
481.57
.58
20.45
3.21
22.56 1,108.23
.14
577.00
224.90
Total..
Per cent of total miles of track
6,758.96 1,182.57
33.71 1,555.63
.50
23.02
795.13 1,225.69
11.76
18.14
30.03
.44
22.56 1.111.44
.33
16.44
577.14
6.54
225.06
3.33
17.35
8.63
4.07
Per cent last year
100.00
17.50
100.00
13.59
.57
24.70
11.37
19.26
.46
—
.16
At the timber-treating plants of the companies 2,121,316 cross-ties, 53,338 switch-ties and
2,000,000 tie plugs
burnettized, and 64,008 cubic feet of piling and other timber were creosoted.
were
MAINTENANCE OF EQUIPMENT.
Locomotives
Passenger train
_
cars
_
__
Freight” train cars
Wnrtr equipment,
_
Si np
machinery anil tnr.Ia
Superintendence
_
__
-
_
_
_
-
__
__
Last Year.
$4,110,177 17
$3,385,883 31
860,330
3,176,581
190,083
236,545
418,002
69,799
-
.
This Year.
__
_
Other expenses
Total
11
84
81
22
13
20
Increase.
Per Cent.
27
90
39
71
47,861 22
5,992 86
+ 21.39
+ 19.26
+ 24.00
+ 96.26
+ 6.31
+ 12.93
+ 9.39
$1,626,920 21
+ 21.88
733,720 84
94
42
51
91
63,806 34
126,609
614,892
93,228
14,041
2,561,688
96,855
222,503
370,140
$9,061,519 48
Decrease.
$724,293 86
$7,434,599 27
The increase in these expenses resulted from the higher wage
schedules, from the greater mileage of locomotives and
and from a greater charge for equipment vacated.
There was an increase in the mileage of locomotives of 6,159,746
miles, or 21.32 per cent, in the mileage of passengertrain cars of 14,743,508 miles, or 18.33 per cent, and in the mileage of cars in
freight trains of 40,864,564 miles, or 10.21%.
The Companies charged in past years the record value (as appraised at the time of the
reorganization), less salvage,
of all equipment vacated.
The appraisal value made before the recovery from the panic in 1893, when equipment of
every
character was at its lowest cost, was in many instances
considerably less than the salvage value eventually realized. In
order that the operating
expenses should be charged with the normal cost for “Maintenance” it was decided to charge
the original cost (estimated if not known), less salvage, for all
equipment vacated. The amount thus charged is reported
under the items of “Renewals” in Table No. 26, and amounts to
$1,007,162 38, against $237,969 05 last year.
The average cost of repairs and renewals per locomotive and
per car per annum, and the average number of serviceable
locomotives and cars owned during the year were:
cars
Average Cost per Annum.
•
Locomotives, for repairs
for renewals
_
This Year.
Last Year.
$3,592 90
$3,107 09
63 55
_
Total.
Passenger train cars, for repairs
for renewals
$3,122 78
eb
$1,123 67
102 76
65 19
$1,286 66
$1,188 86
$92 02
$93 26
29 66
6 49
$121 68
$99 75
_.
...
Total
Freight train
cars,
for repairs
for renewals
__
Total
The
This Year.
last Year.
15 69
$3,656 45
$1,183
A verage Serviceable Number.
—
1,123
1,088
772
706
26,105
25,682
equipment owned by the respective companies is shown in Table No. 24,,and the capacity, the service, and the
of maintenance are shown in Tables Nos. 30, 31 and 32.
1
average cost
TRAFFIC EXPENSES.
Outside agencies
Advertising
Superintendence
Stationery and printing
This Year.
Last Year.
$649,567 85
*805,735 74
$622,207 55
Other expenses
)
Total
*
449,303
312,236
160,565
18,717
342,203 41
164,054 84
23,455 77
$1,985,017 61
Increase.
$27,360
356,432
29,966
3,489
4,738
Per Cent.
+4.40
+ 79.33
+ 9.00
+ 2.17
+ 25.32
$421,986 76
+ 27.00
48
75
64
43
$1,563,030 85
Decrease.
30
26
66
20
34
Includes $119,083 44 chargeable to the expenditures of the
previous year.
TRANSPORTATION EXPENSES.
Locomotives, fuel for
Locomotive service, other than fuel
Train service
Station and terminal service..
Injuries, loss, damage and other casualties
Superintendence
Stationery and printing
This Year.
Last Year.
Increase.
$7,084,790 58
$5,440,119 54
$1,644,671 04
4.805,010 50
3,763,862 88
3,647,784 51
4,397,029 15
1,174,849 28
2,910,282 64
3,733,702 98
1,119,721 37
779,737 26
151,379 86
16,102 39
880.857 76
186,185 93
29,298 97
Other expenses
Total
$22,205,806 68
The work done by the
transportation department of the rail lines
$17,914,908 92
over
1,041,147
737,501
663,326
55,127
101,120
34,806
13,196
Decrease.
+30.23
62
87
17
91
50
07
58
+ 27.66
+ 25.34
+ 17.77
+4.92
+ 12.97
+ 22.99
+ 81.95
$4,290,897 76
Increase.
Transportation expenses
Revenue passengers can-led one mile
.
cars
Locomotive mileage with freight and mixed trains,
Including helping
Total locomotive mileage In service for which the attendant
expenses are charged to “Transportation
Expenses”..
car
*
and loaded
Tons per Train.
Average all lines
The cost per
to
freight
543.45
589.91
501.03
—8.16
+20.30
+ 4.90
1.48
3.53
.99
26.07
22.73
21.13
—.98
+ .70
547.89
—.60
.11
24 66
“Transportation Expenses”
run
was:
in
Cars.
per
loaded
Tons per Loaded Car.
To Total Car
Per Cent.
train and all mixed
+ 21.32
_
of Loaded Car
Mileage
—
Cars.
Tons.
locomotive mile
6
train (excluding caboose), and the tons
+ Increase.
Decrease.
—
+ 20.82
+ 18.33
+ 24.80
+ 13.87
+ 13.82
+ 10.21
-t-14.30
b
Loaded Cars per Train.
Tons.
Ton miles per revenue
cars per
+ Increase.
Decrease.
Union Pacific Railroad Co
Oregon **hort Line Railroad Co
Oregon Railroad & Navigation Co....
Per Cent.
+ 14.41
+ 23.95
3,259,311
730,575 840
883,695,869
40,864,564
1,865,690
Per Cent
and
Company Freight
(Way-Bill Tonnage).
•
Decrease.
6,159,746
The average number of tons of freight
per train,
for the respective companies for the year were:
Revenue
following table:
$11,146,036 08
$4,290,897 76
165,535,23*
14,743 508
M Heave of passenger cars
Locomotive mileage with passeusrer trains,
Including helping
Tons of revenue freight carried one mile
Tons of revenue and company freight carried one mile
Mileage of freight
+ 23.95
—
that of last year is shown in the
Gross operating revenues
Per Cent.
+ Increase.
Decrease.
—
Tons.
Per Cent.
Mileage.
+ .05
3.62
3.18
.24
75.99 + 1.28
73.84 +1.35
83.06— .70
20.85
25.95
23.71
+ .46
+ .10
+ .18
2.26
.39
.76
—.48
1.91
76.30+1.16
22.22
+ .41
1.88
Tons.
Percent.
train miles.
revenue
service and in
non-revenue
service for which the expenses are
charged
t,
For fuel for locomotives
For all transportation expenses
.
This Year.
20.210 cents.
63 345 cents.
Last Year.
18.827 cents.
62.000 cents,
-
4-1 383 cents.
4-1 345 cents.
THE CHRONICLE
Od*. 2& 1910.1
1171
GENERAL EXPENSES.
Salaries and expenses of general
officers.
Salaries and expenses of clerks and
J,f\\v expend
rjftnftrai offi#*-#*
attendants
—
-
-
_
Insurance
---------
-
-
_
-
-
-
_______
-
_
Otner expenses
Total
______
.
$194,902
900,050
271,923
105,002
118.323
160,169
50,527
163,956
Decrease.
Increase.
Last Year.
This Year.
•
$2<*0,833 56
42
05
$90,140 53
27
809.910 42
261,779 50
91,415 47
156,192 74
145.083 21
38,235 63
164,940 22
$1,964,856 31
$1,908,390 75
$56,465 56
65
82
61
18
41
Per Cent.
$45,931 14
—*9.07
+ 11.13
+3.88
+ 14.86
—24.25
+ 10.40
+32.15
—.60
10,144 15
13,587 35
37.869 13
15,085 97
12,291 78
983 9$
-t-2.96-
GENERAL.
on
completed lines of railway reported under “Properties and Mileage,” construction is progressing
In addition to the
the following lines:
Union Pacijic Pailroad—
Dent to Ft Collins, Colorado
ftock Springs up K1!parker Creek,
Malheur 1 alley Railway—
Length oj
Projected f.ine.
Completed.
Com Dieted.
Miles.
Miles.
Miles.
Track
Grading
24.75
21 73
Wyoming
Hmgan, Oregon.
Southwestern Railroad—
Rupert to Bliss, Iiiaho.
Burley to Oalfley, Idaho
Salmon River Railroad—
Moreland to Aberdeen, Idaho
to
Grading
Progressing.
Miles.
18.52
10.40
X.16
23.77
21.42
2.35
72.78
22.09
5.93
65.10
22.09
28.80
10.86
17.48
7.00
13.00
5.47
1 53
2.00
1.25
11.00
56.89
55.00
Minidoka A
_
Oregon Railroad A \avigation—
St. Johns to Wood la *vn, Oregon.
Wcodlawn to Troutdale, Oregon
Albina to Mock Bottom, Oregon
;
,__
1,25
Des Chutes Railroad —
Des Chutes to Redmond, Oregon
Total
133.00
...
21.11
1.75
348.17
_.
The express privileges upon the lines of these companies previously enjoyed by the Pacific Express Company were
granted to the American Express Company by contract of January 12 1910 for a period of about five years, upon terms
which it is believed will materially increase the revenues from that source, and thereupon the Union Pacific Railroad
Company availed of an opportunity to dispose of its entire holdings (amounting to about forty per cent) of the stock of
the Pacific Express Company.
The Insurance Fund shows a gain, in the year's transactions of $42,406 97.
The operations of this fund from its
commencement to June 30 1910 are shown in Table No/23.
Under the pension system put into effect on January 1 1903 there are carried on the pension rolls 188 employees.
The
payments to them for the year amounted to $51,797 55.
The receipts of the Hospital Fund for the year amounted to $237,725 44; the expenses were $231,304 93, leaving
a surplus of $6,420 51.
The accumulated surplus on June 30 1910 was $96,175 19.
The accompanying report of the Vice-President and Comptroller shows in
detail the property of the Union Pacific
Railroad and Auxiliary Companies, and their combined financial and other transactions.
By order of the Board of Directors,
ROBERT S. LOVETT, Prgtideni.
UNION PACIFIC RAILROAD AND AUXILIARY COMPANIES.
NO. S.—INCOME FROM TRANSPORTATION OPERATIONS. YEAR ENDED JUNE 30 1910.
Gross operating revenue and revenue from outside opera¬
tions, as shown In detail In Table No 26
$46,938,909 34
3,264,347 51 Rentals from joint tracks, yards and terminal
facilities
—$455,418 44
Less—Pavments
$50,203,256 85
124,870 89
Operating expenses and expenses of outside operations, as
shown In detail In Table No. 26
Taxes
—
-
...
Total expenses and taxesInterest on bonds In nands of public, as shown In Table
No. l5-__
Sinking fund requirements!
Hire of equipment—balance
Rentals for lease of road
$87.621 53
Lass—Collections
72,692 82
$90,228,092 20
-
820.547 55
12,455,577 15 Miscellaneous rentals
16,013 33
Less—Payments
1,923,095 63
..
.
__
$48,933.92
6,153 02
42.780 90
8.090 06
Miscellaneous receipts
...
14,928 71
Dividends on preferred stock—
2 per cent, paid April 1 1910
2 per cent,
Dividends
1.4 per
1 H per
1 H per
1 M per
1,990,880 00
1,990,880 00
payable October 1 1910
common
on
stock—-
3,276,727 54
3,248.261 39
cent, paid January 3 1910
paid April 1 1910
cent, payable July 1 1910
cent, payable October 1 1910
Dividends on preferred stock of Oregon RR. & Navigation
Co., In hands of public
Balance to profit and loss (No 4)
cent
3,248,665 07
...
3,248,665 50
240 00
8,989,319 54
$90,606,510 71
$90,606,510 71
NO. 3 —INCOME OTHER THAN FROM TRANSPORTATION OPERATIONS. YEAR ENDED JUNE 30 1910.
Dividends on
1 per cent,
1 per cent,
1 per cent,
1 per cent,
common
Interest on bonds owned of companies other than Oregon
Short Line and Oregon RR. & Navigation Co. (Table
$2,184,485 03
No. 16)
2,165,507 60
Dividends
collected or declared on stocks owned of com¬
2.165.776 72
2.165.777 00
panies other than Oregon Short Line and Oregon RR. &
Navigation Co. (Table No. 17)
10,830,505 00 Interest on loans and open accounts other than with
auxiliary companies—balance
Rentals from steamships.
stock of Union Pacific RR. Co.—
paid January 3 1910
paid April 1 1910
payable July 1 1910
payable October 1 1910
_
_
$1,263,983 18
15,298,078 Off
.
Balance to profit and loss (No. 4)
2,559,720 18
204,800 00
Net Income from unpledged lands and town lots
Miscellaneous receipts
$87,318 40
Less—Miscellaneous
payments.
'928
13
2,776 52
84,541 88
$19,512,051 35
$19,512,051 35
NO. 4.—PROFIT AND LOSS FOR THE YEAR ENDED JUNE 30 1910.
Balance June 30 1909
Reserve for depreciation of equipment owned and leased
to other companies
Abandoned property not to be replaced
Costs of surveys written off
Advances to Portland & Asiatic Steamship Co
Miscellaneous payments
Adjustments In accounts
Balance June 30 1910, viz.:
Income acoount
$114,788,209 04
70 Balance Income from transportation opera¬
tions (No. 2)
91
J
$8,989,319 54
88 Balance Income other than from transportai
tlon operations (No. 3)
30
10,830,505 00
3,626 64
25,391 80 Difference between $30,231,950 00 face value Union Pacific
RR. Co. Twenty-Year Four Per Cent Convertible Bonds
retired and canceled and $17,275,400 00 par value com¬
mon stock tssued In exchange therefor
.*_•
115,796,646 87 Profit on sales of securities other than Investment stocks..
Sinking fund contributions and income from sinking fund
Investments
L
u’.'
.
Collections of old accounts.
i_ J„
.$13,099 •$
Less—Payments of old accounts/
11,704 28
„ _—u
$117,006
382.604
162,918
672,276
-
^Slfiklpglnnda—
Jr;
•$«
31.
& if
tTC-s;
qV
£>:’:
.? a-
at*
(jv'
.
■
•?«
.
jy
_
,
? i.
r
j-sv-: ;; &
'»—
,'i' }■ .
!*
VTt!- hm'if £? v:.£ .!«»,-
_—_
;
*i!
'J-
.
.UK caCgU-tStf
.
—
,,
votr
c-j
s
Proceeds from
$83,007,788 89
—
_
V.
,
lv'
1,008,437 83
—
of
unpledged tends and
town lots....
19,819,824 54
12,156,550 06
1,338,714 60
-,n;«4341 06
>.% S
O .li'viki#
V
r
1,850 08
-,-.T.-.W-.-r-7rt
*117.160.472 10
OOOSiiS*
wft*
SsJhn
II ■
1.
$1171100,472 10
......
ala
Cl
THE CHRONICLE
(VOL.
UCXXXI
UNION PACIFIC RAILROAD AND AUXILIARY COMPANIES.
{&&•!uding
stocks
arid
NO. 5—ASSETS AND LIABILITIES JUNE 30 1910.
bonds owned of Auxiliary and Proprietary Companies and all offsetting accounts between them.)
ASSETS.
June 30 1910.
Capital Assets,—
Costof railways; equipment and appurtenances
Stocks and bonds, as-detailed iri Tables Nos. 9, 10 and 11.
Trust funds.;
:
Current Assets—■
,
mcratsfr.
iPmease.
$394,834,165 17
209,974,387 06
$11,947,071 57
225,962 43
'35.900’61
$615,604,114 83
$605,034,514 66
$10,569,600 17
$1,418,375 41
.
$10,901,568 97
4
—
Demand loans and time deposits
Agents and conductors
Traffic and car service
Income accrued to June 30 on securities owned
Individuals and Cf>mp8htes_
T_
United States Government transportation
Deposits against matured and called bondsMaterial, fuel and supplies.
$3,099 ,371 69
j52 6,762~ 63
9,082,088
27,450,000
1,042,116
100,304
4,939,580
3,922,489
403,059
3,000
12,631,156
_.rwr
2.371 ,370
26,990 ,450
18,800 ,000
924 ,164
259 .897
4,845 ,863
1,788 ,787
468 ,532
3 ,000
11,083 ,491
21
00
17
27
50
88
61
00
74
00
56
00
59
$10,901,568 97
2~155,392
63
’’8’65’d',666’66
$3,099,371
69
17,908.362 35
117,951 58
05
93,717’ 2 5
25
32
30
00
02
159,592 78
2,133,702 56
65,472 69
1,547,665 72
$75,002,126 98
$70,634,927 78
$4,867,199 20
$46,620,519
6,132,890
12,341,244
4,357,334
78,087
57
48
8a
20
27
$37,230,384 79
$9,390,184 78
$69,530,076 37
$56,499 625 04
$733,079 04
1,311.747 00
2,749,622 94
$1,551,819 56
$4,794,448 98
$5,637,308 82
$764,930,767 16
$737,806,376 30
$27,124,390 86
$216,577,700 00
99,544,000 00
$199,302,300 00
99,544,000 00
$17,275,400 00
20,100 00
3,410 00
20,100 00
3,410 00
$316,145,210 00
$298,869,810 00
297,449,150 00
322,785,800 00
$05,800^050 00
$613,504,300 00
$621,655,610 00
$8.0fol>8ffO 0
Deferred A, ssets—
Advances for construction and acquisition of new lines.
Ocean
1909.
*$400,781,240 74
208,561,011 65
261,862 44
Demand loans, Southern Pacific Co
Loans to San Pedro Los Angeles & Salt Lake RR. Co.
Loans to Utah Light & Railway Co
Cash
June 30
steamships
Rolling1 stock
Terminal property and'ofcher lands
Individuals and companies
Contingent Assets—
Unadjusted accounts.
Due from proprietary companies.
Land and town lot contracts
Total assets.
5,119,723
9,646,501
3,999,952
503,062
10
53
66
96
1,013,167 38
2,694,743 32
357,381 54
$424,975 69
$13,030,451 33
968.188 60
3.117,300 66
$343,558 40
$018,740 52
307,877 72
$842,859 84
LIABILITIES.
.
Unlbn* Pndlfi^Waflrbad- Company—
Corampm stock,.
Preferred stock..
Stocks of Auxiliary Companies in hands of the public, viz.:
Oregon Raiiro&cfcolTNavigation Co.Common stock
Preferred stock
^
—
—
Total stocks
-
Fupded^de^(^^udin^ bonds of Auxiliary and Proprietary Companies
$17,275,400 00
Current Liabilities—
Coupons matured but not presented
Coupons due July 1,
Inter?^ actewBff onf ndpdn
loans to June 80.
$152,76*7 74
Dividends due but uncalled lor
Dividends payable July 1st and October 1st---..
Mortgage bonds satisfied.
Vouchers and pay-rolls
Taxes arSsoesed but not due.
Hospital department.
other companies
$274,374 99
10,343 50
917,608 50
6,143,763 45
4,863,303 41
1,280,462 04
$23,777,840 19
$22,069,571 07
$1,688,075 12
$1,347,919 09
96,175 19
$1,109,448 33
$288.47079
89,754 68
6,420 51
$1,444,094 28
$1,199,203 01
$344,801 27
$410,670 16
$368,263 19
$43,400 07
1,917,2X9 70
1,728,889 14
2,022,467
68,267
3,149,772
2,749,622
188,300 56
3,244,314
58,559
1,336.876
3,117,300
on steamships and on rolling stock leased to
Union Pacific Coal Co
Union Pacific Land Co
Due to proprietary companies
Principal of deferred payments
on
land and town lot contracts
Balance to credit of profit and loss (Table No. 4)
Total liabilities
•
The
caunt,"
a
50
21
31
94
782,990 00
34
47
73
66
04,231.840 84
9,707 74
1,812,895,58
087,677 72
$10,318,019 82
$9,854,203 53
$408,810 80
$115,796,646 87
$83,007,788 69
$82,788,868 18
$764,930,767 16
$737,806,376 30
$27,124,390 86
sum of $17,648,252 12 received to date from the
Improvement and Equipment Fund and $16,959,816 24 appropriated from "Income Actotal of $34,608,068 36, has been applied as a credit against this cost.
NO. 7.—STOCKS
OF THE
UNION-PACIFIC RAILROAD, OREGON SHORT LINE RAILROAD, OREGON
COMPANIES AND PROPRIETARY COMPANIES, JUNE 30 1916.
Total Issued
and
COMPANY
Outstanding,
June 30 1910.
Amount
in Hands of
Public,
June 30 1910.
Owned by Union
Union
Pacific
Railroad
Co.
Union Pacific Railroad Co.
Common stock
$216,579,700 00 $216,577,700 00
Preferred stock
99,569,300 00
99,544,000 00
Oregon Short Line RR. Co.
Capital stock
Oregon RR. & Nav. Co.
Common stock.
Preferred stock
Boise City Ry. & Term. Co.
Capital stock
Cascades Railroad Co.
Capital stock
Columbia & Palouse RR.Co
Capital stock
Oolum.hl* River & Oregon
Central Railroad Co.
Capital stock
Columbia Southern Ry. Co.
Capital stock
Malad Valley Railroad Co.
Capital stock
Malheur Valley Ry.
......
Capital stock
0o.
M1H Creek Flume & Mfg.Co.,
Capital stock
Mlnlaoka & S. W. RR. Co.
Capital stock
St. Anthony Railroad Co.
Capital stock
Salmon River Railroad Co.
Capital stock
Snake River Valley
Capital stock
3,973,120
1,150,634
32,833
11,902.188
3.000
00
51
00
50
00
Contingent Lifo&l&t*Ipsurapoe fundj'____
RefeeTye'for depredation
$164,491 69
3,190,130 00
1,425,009 50
43,176 50
12,819,797 00
3,090 00
....
RR.Cfo.
27,460,100 00
24,000,000 00
11,000,000 00
Pacific Railroad and Auxiliary Companies.
Oregon
Oregon Rail¬
Short Line
Railroad Co.
road & Navitlon Co.
s,
$2,000 00
25,300 00
27,350,700 00
20,100 00
3,410 00
$109,400 00
23,979,400 00
10,873,690 00
22,900 00
RAILROAD & NAVIGATION
$500 00
122,900 00
22,900 00
Of the Total Owned there
are
Total.
Pledged,
Unpledged.
$2,000 00
25,300 00
$2,000 00
25,300 00
27,460,100 00
27,460,100 00
23,979,900 00 $23,979,300 00
10,996,590 00 10,866,800 00
22,900 00
600 00
129 790 00
22,900 00
300,000 00
300,000 00
300,000 00
*300,000 00
1,000,000 00
1,000,000 00
1,000,000 00
*1,000,000 00
50,000 00
50,000 00
50,000 00
50,00.0 00
300,000 00
300,000 00
300.000 00
300,000 00
40,000 00
40,000 00
40,000 00
40,000 00
56,400 00
56,400 00
56,400 00
200,000 00
200,000 00
200,000 00
56,400 00
*200,000 00
85,000 00
85,000 00
50,000 00
50,000 00
50,000 00
50,000 00
150,000 00
150,000 00
150,000 00
150,000 00
1,000,000 00
1.000,000 00
1,000,000 00
1,000,000 00
85,000 00
85,000 00
OCT.
THE CHRONICLE
*9191®.]
11*8
UNION PACIFIC RAILROAD AND AUXILIARY
COMPANIES.
TABLE NO'. 7—(Concluded.)
COMPANY.
j
Spokane Union Depot
L'djJi tell IS lUt'lt
-
--
-- -- -- -
June 30
Owned
Amount
in Hands of
Total Issued
arid
Outstanding,
Union Pacific
Railroad
Co.
Public,
1910.
June 30 1910.
by
Union
Oregon
Oregon Rail¬
Short Line
road & Navition Co.
Railroad Co.
Unpledged.
$125,000 00
•
700,000 00
$700,000 00
50,000 00
$50,000 00
50.000 00
12,500 00
12,500 00
12,500 00
Yellowstone Park RR. Co.
Total
Total
Pleged.
$125,000 00
700,000 00
Capital stock
Of the 'Ll ted Owned There are
Total.
$125,000 00
$125,000 00
Walla Walla A Columbia
River Railroad Co.
Wyoming Western RR. Co.
Pacific Railroad and Auxiliary Companies.
O0j
*$700,000
“
*
50 ,000 00
“3
12,500 00
$382,750,900.QQ $316,145,210 00 $28,853,000 00 $35,429,290 00 $2,323,400 00 $66,605,690 00 $37,046,100 .00 829,559,590 00
305,475,500 00 298,869,810 00 28,853,000 00, 35,429,290 00 2,323,400 00 66.605,690 00 37,046,100 00 20,659,590 00
1910
1909
$17,275,400 00
$17,525,400 00
....
-
~
...
•
Pledged as muniment of title to railways
forming an Integral part of the lines of the O. R. R. A N. Co.
RAILROAsD, OREGON
-BONDS OF THE UNION PACIFIC RAILROAD, OREGON SHORT LINE
COMPANY AND PROPRIETARY COMPANIES. JUNE an 1910.
No. 6
COMPAN Y
Ovmed by
7 otai Issum
and
Amount
in Hands of
Outstanding,
Public,
June 30 1918.
June 80 1910.
NAVIGATION
RAILROAD A
Union Pacific Railroad and Auxiliary Companies.
Of the Total Ouned (hcrenre
Union Pacific
RR. Co.
Total.
Oregon Short
Oregon RR. A
Line hit. Co.
h avigationCo.
Pledged.
Titnledged.
Union PaeffH- HR. ft>.
1st M. RR. and Land
Grant 4%
.-r$100.000,060 00 $100,000,000 00
5-7,803.800 00
57.803,800 04)
let Hen A Refund. 4%.
30.854,050 00
3d-Year 4% Converge
30,854,850 00
Oregon Short Lino RR.O».
Corsor. r»t Mtge. 5%.
Non-fJti* u. Income A. ‘
Coll. Trust Non Otmiu
latlve Income P.
4% Refunding
*
Oregon Short Line Ry. Co.
1st Mortgage 8%
Utah & Northern Ry. Co.
1st Mortgage 4 %, ext.
12,328,000 00
7,185,000 00
12,328,000 00
321.500 00
$4,209,500 00
14,841,000 00
100,000 ,000 00
37,000 00
45,000,000 00
14,804,000 00
55,000,000 00
14,931.000 00
14.931.000 00
4 *001,000.00
*
1,802,000 00
4,891,000 00
1,802,000 00
Oregon JRR. &Nav. Co. j
4 % Cons. Mige., Gold..
•Columbia & Palouse Rail¬
23,380,000 00
23.380,000 00
Mtie. 5%
Consol.
6.843,300 00 $2,554,009
2,504,000 00
0f; *4. & .500 00
00
55 ,000,000 00
14,804,00000
55,000,000 00
$■:
•
road Co.
1st
Mortgage 8 %
.
.
._
$2,829,000 00
2,829,000 00
2,829,000 00
*2,829,000 09
•Columbia Rlvei A Oregon
Central RR. Co.
let Mortgage 6
.
•Columbia South n Ry. Co.
Malheur Valley RY. Co.
1st Mortgage
894,000 00
894,000 00
894,000 00
700,000 00
J4& Jtortgasm 5%
Malad Valley RR. Co.
let Mint1-'rage 8 %......
6%
-
700,000 00
i
TO0S0OO 00
400,000 00
400,000 00
i
700 *000 00
»
,
,
400,000 00
160,000 00
160,000 00
160,000 00
„
400*600
00
>
160,000" 00
mm
*»'
mm
—
*
850,000 00
850,000 00
850,000 00
1st Mortgage 8%-i.
Salmon River RR. Co.
450,000 00
.450,000 00
450,000 00
1st Mortgage 8%
Snake River Val. RR. Co
1st Mortgage 6
'WyamlQg West.
West. IRR. Co.
1st Mortgage 8 %
750,000 00
750,000 00
750,000 00
RR. Co.
....
$94*000 00
j-i ...... '3
*
>
Minidoka A S. W. RR. Co,
1st Mortgage 8 % - St. Anthony
—
3
i
0*0,000 00
«
—*
*
460,000 90
I
750.000 00
M
1.500,000 00
1,500,000 00
1,500,000 00
275,000 00
275,000 00
275,000 00
1,600,000 00
*®$,9oo*ol
410,000 00
:r+
$79,767,500
Total
1910_
8382,924,650 00 $297,449,150 00 $76,497,500 00
$5,449,000 00
$3,529,000 00 $85,475,500 00
$6,706,000 00
Total
1909
$413,154,800 00 $322,785,800 00 $76,489,000 00 $10,351,000 00
$3,529,000 00 $90,369,000 00
$5*393.000 OQ $84,676,000 00
$30,238450 00
Decrease
*
?
$8,500 00
Increase
Pledged
as
$315,000
$4,902,000 00
$25,336,650 00
06
00
+
«4*03,600*00
i
$5,208,600 00
muniment of title of mlbrayi forming an lateral part of the lines of the Oregon Railway 8b Navlgatl ;,n Go.
No. 9.—STOCKS OWNED OF OTRER COMPANIES. JUNE
0 1910.
(honed by Union Pacific Railroad and Auxiliary ('ompantes.
Total Issued A
Outscandlng
COMPANY
June 30
Cama3 Prairie Railroad..
Central Idaho Railroad.
_
A
Sound Ry. Co
Gray’s
Harbor
Leaven. Depot & RR. Co.*
Occld. A Oriental SS. Co
Ogden union Ry. A P.Co‘
Oregon A Wash. RR. Co,
Peolflc Express Co
Rattlesnake Cr’k Wat’rCo
Riverside Homestead
St. Joseph A Grand Island
Railroad Co.
Common Stock
First Preferred Stock...,
Second Preferred Stoqk.
Salt Lake A Idaho RRh
San Francisco & Portland
SteamshipSan Pedro Los Angeles &
Salt Lake KR. Co
A
provement Cq
Topeka iron Co
...
ary)
Union Land Co.union Pacific coai 60.
Union Pac. Equip. Aes’n.-j
Union Pacific land Co
Union Pacific Water Ob...
Utah Light 'A Ry. Co.
Common Stock.
Preferred Stock.
*
Total 1210
Wit*
$22,000 00
22,000 00
4- mereuvt
Decrease.
Pledged.
—
$10,000 00
$20,000 00
$10,000 00
+$10,000 00
22,000 06
+ 22,000 00
00
OO
00
00
00
225.000
315,000
100,000
25,000
50.000
225,000 00
300,000 00
1,000,000 00
150,000
909,300
150,000 00
999.300 00
225,000
315,000
1,000,000
50,000
150,000
315,000
100,000
25,000
50,000
Unpledged.
$10,000 00
32,000 00
225,000
815*000
100,000
25,000
00
00
00
00
10,800,000 00
5,400.000
5,400,000 00
78.300 00
100,000 00
78,300
100,000
78.300 00
4,600,000 00
5,500,000 00
3,500,000 00
3,080,500 00
1,415.100 00
1.815.000 00
16,000 00
16,000 00
500,000 00
500,000 00
25,000,000 00
150,000 00
999.300 00
j40(j,"000~ 00
5 ,400,000 oo
100,000 00
+106,000 66
3,080,500 00
1.415,100 00
1,815.000 00
16,000 00
+ 180,500 00
+482,900 00
+ 565,000 00
+ 16,000 00
500,000 00
+ 500,000 00
*
78,300 00
100,000 00
3.080,500 00
1,415.100 00
1,815,000 ©0
16,000 00
500,000 00
$12,500,000 00
12,500,000 00
12,500,000 00
50,000 00
100,000 00
110,000 00
50.000 00
50,000 00
55,000 00
55,000 00
65*000 00
400,000 00
240,000 00
240,000 00
45.000 00
10,000 00
5,000,000 00
45,000 00
500,000
10,O*o
5,000,080
100,000
100,011 >
500
00
0
0
00
00
00
100,000 OO
100,000 00
500 00
2,052,250 00
3,990,500 00
1,849,525 00
3,840,875 OO
$29,135*300 00 $18,237,325 00
’been llquidated andthe
246,000 00
•
10.000 00
5,000,000 00
100.000 00
100,000 00
500 00
J
hM
00
50,000 00
—2
$19,803,700 00 $16,278*400 0©
..i.
00
00
00
—8,750,000 00
.•—-.a
l
Thls^nrpaity'
Total.
RR
Nat. Co.
Im¬
Union Depot A Railway
Go. (Denver)
Union Depot Go. (Kansas
Total .1900
Oregon
&
--
Pacific Fruit Express Co...
Land
Oregon Short
Line HR. Co.
—$10,000 00
Kansas City Term. Ry.Co.
Leaven, ds Topeka Ry. Co
Line
Union Pacific
RR. Co.
Puget
Green River Water Work?
Co
j
Ilwaco Railroad Co.
Short
Of the Toted Owned there dfi
1010.
investment
1,849,525 00
3,840,875 00
$10,000 00 $38,002,100 00
—.
$47,872,625 00
ob$3io,198 9lTtiaS%een TKHSSfrSTto
45,000 00
10.000 00
$,000,000 00
100.000 00
600 00
60000
+
$99,400~ OQ
+ 75 00
+3 ,000 00
—:
$9,280,525 00
j 1.,849,525 00
-1
3,840,875 00
r. ■'<;
..t* x
,400 0
■
W*AilMl a.
i-l
,802.700 00
1174
THE CHRONICLE
[Vol.
IOCXXXI
UNION PACIFIC RAILROAD AND AUXILIARY COMPANIES.
No. 10.—INVESTMENT STOCKS OWNED. JUNE 80 1910.
Owned by Union
COMPANY.
Union Pacific
Railroad
Co.
Oregon
Pacific Railroad
Oregon Railroad
A navigation
Short l Ine
Railroad Co.
ar,i
Auriliarv Companies.
Of the Totat Owned there
Total.
Co.
+ Increase
—Decrease
Pledged.
are
Unpledged.
Atchison Topeka A Santa Fe Rail¬
Co
way
Preferred Stock-Baltimore AOhlo Railroad Co.
Common Stock
Preferred Stock
Chicago A Alton Railroad Co.
Preferred Stock
$10,343,100 00
Chicago A North Western Ry Co.
Common Stock
Chicago Milwaukee A St- Paul
Rallw'ay Co.
-$10,000,000 00
"
32,334,200 00
7,206,400 00
32,334.200 00
7,206.400 00
10,343,100 00
-
Preferred Stock
Great Northern Railw ay Co.
Iron
Ore
Properties, 38,864
shares *
Illinois Central Railroad Co.
Capital Stock
N. Y.Central* Hud.RiV.RR.Co.
Northern Securities Co.
Stubs
4,018,750 00
4,018.750
1.845.000 00
1.845,000 00
22,500,000 00
Capital Stock
22.500.000
Total, 1910
Total, 1909
+ 803,750 00
4,018,750 00
1,845,000 00
00
17,857.100 00
724,900 00
724.900 00
3.483,400 00
1,935,900 00
10.343,100 00
00
17,857,100 00
—
Railroad Securities Co.
Common Stock
Preferred Stock
Southern Pacific Co.
Common Stock
Preferred Stock
32,334.200 00
7,206,400 00
22,500,000 00
+3,571,400,00
17.857.100 00
724,900 00
3.483.400 00
1.935.900 00
+ 500 00
126,650.000 00
126.650.000 00
+ 36,650.000 00
034.200,000 00
$38,262,400 00 $190,636,350 00
38,261,900 00 193,811,200 00
$228,898,750 00
232.073.100 00
3.483,400 00
1.935.900 00
£108,000.000 00
18,650,000 00
-$3,174,350 00 $108,000,000 00 $120,898,750 00
108,000.000 00, 124,073,100 00
*
Par value not stated In certificate.
All sold during the year,
a Exchanged for common stock,
r Deposited
as
Short Line Railroad Co. Four Per Cent Refunding Mortgage.
collateral under Oregon
Of the total $100,000,000 of bonds
outstanding under the mortgage, $55,000 000 ar
& free asset In the treasury of the Union Pacific Railroad Co.
NO. 11.
BO
DS OWNED OF OTHER CO
Total Issued
Owned by
and
COMPANY.
Outstanding
June 30 1910
Atchison Union D^potARR.Co
Second mortgage 5 %
Cheyenne County, Colorado.
Refuudlti®’5 %
Green River Waterworks Co.
First Mortgage 6%
Idaho Northern Railroad Co.
FI ret Mortgage 5%
Second Mortgage 5%
Ilwacu Railroad Co.
First, mortgage 6%
Leavenworth A TopekaRy.Co.
First n.ortgagf 4 %
Leavenworth Depot A RR.Co.
First mortgage 5 %
Northern Pacific Terminal Co
First mortgage 6 %
Ogden Union Ry. A Depot Co.
First n orteraee 5 %
Oregon Wash’n A Idaho RR
First Mortgage 6%
Payette Valley Railway Co.
$31.500
00
•
1910.
Union Pacific Railroad and Auxiliary Companies.
Oregon
Short Line
Railroad Co.
Oregon RR
Naviga¬
&
Total.
Of the 7 otal Owned there
^Increase.
Decrease.
tion Co.
—
Pledged.
are
Unpledged.
$4,500 00
26,200
26,200 00
26,200 00
198.000 00
198,000
198,000 00
198.000 00
875,000 00
875.000
160,000 00
160,000
875,000 00
305,000 00
305,000
305,000 00
305,000 00
250,000
00
125,000
125,000 00
125,000 00
150,000
00
63,000
63,000 00
3.443.000 00
60,000
326,000 00
3,000.090
00
160,000 00
$114,000 00
163,000
163,000 00
3,000,000 00
$44,000 00
146,000 0U
...
875.000 00
160,000 00
+ 11,000 00
63,000 00
174,000 00
163,000 00
+ 3,000,000 00
3.000.000 00
44,000 00
44,000 00
146,000 00
146,000 09
23,443.000 00
23,443.000 00
+3.443.000 00
23,443,000 00
927,000 00
65,000 00
927,000 00
65,000 00
—3,833,000 00
+ 65,000 00
927,000 00
65,000 00
2,000 00
2,000 00
2,000 00
993.000 00
41,000 00
993,000 00
41.000 00
993,000 00
41,000 00
3.507,000 00
3,507,000 00
—188.00Q 00
5
5.846.000 00
—750,000 00
$114,000 00 $40,107,700 00
116,000 00 38,359,700 00
+ $1,748,000 00
846.000 00
$14,478,700 00 $25,515,000
12,403,700 00 25,840,000
__
$4,500 00
174,000 00
3,000,000
00
00
3,507,000 00
$5,846,000 00
$5,846,000 00 $34,261,700 00
6,596,000 00 31,763,700 00
$1,493,000 held by Union Pacific Coal Co. sinking fund.
NO. 12.—RECAPITULATION OF STOCKS
AND
Total
Issued and
Outstanding
June 30 1910.
Union Pacific Railroad and
Stocks (Table No. 7».
Bonds (Table No. 8)__
BONDS JUNE 30 1910.
Amount
in Hands oj
Owned by
Union Pacific RR. and Auxiliary Cos.
Public,
June 30 1910.
OJ which there
Total.
are
Pledged,
And there Remains Unpl'ged.
Auxiliary Companies:
:
_.Par value
Face value
Total Union Pacific Railroad and Auxiliary
Companies
Stocks of other companies (Tables Nos. 9 and 10)
Bonds of other companies (Table No. 11)_.
Total stocks and bonds other companies carried
561,011.-65 (Table No 5).
on
$382,750,900 00 $316,145,210 00
382,924,650 00 297,449,150 00
$66,605,690 00
85,475,500 00
$765,675,550 00 $613,594,360 00 $152,081,190 00
Par value
Face value
$37,046,100 00
5,708,000 00
$29,559,590 00
79,767,500 00
$42,754,100 00 $109,327,090 00
$266,990,850 00 $108,099,400 00 $158,891,450 00
40,107,700 00
5.846,000 00
34J2B1.700 00
books at $208,-
-
!, V
30
$4,500
First mortgage 5 %
44.000 00
Rattlesnake Creek Mater Co.
First mortgage 6%
146,000 00
San Pedro Los Angeles A Salt
Lak * Railroad Co.
First mortgage 4%
46,886,000 00
Southern Pacific.
4 % 20-year Convertible
81,151,000 00
4M% Twenty-Year Gold
227,000 00
Utah Light A Power Co.
Consolidated Mortgage 4%. 1,115.000 00
Utah Light * Railway Co.
Consolidated Mortgage 5%. 1.4O5.000 00
Collateral Trust 6%
250,000 00
Union Pacific Coal Co.
First mortgage 5 %—
*5,000,000 00
Union Pacific Land Co.
First mortgage 4%
5,846,000 00
Total, 1910
Total, 1909
Union Pacific
Railroad
Cu.
iPANIES, JUNE
$307,098,550 .00 $1.13,945,400 00 $193,153,150 00
V ■
Wayne County (N. Y.) Gas & Electric Co., Newark, N. Y.
—Merger—New \Bonds.*—This consolidated company, or¬
ganized July 12^1910 under the laws of N. Y., has filed a
mortgage to the jChemungiCanal Trust Co., as trustee, coveringjgrqperty inlClyde, J^yOns, Newark and Palmyra. N. Y.,
to secureunot exceeding $750,000
refunding 5% gold bonds
“ft issue to be $23^,000), dated July 12 1910 and due
£13*50, but callable c$fter 5 years at 105; par $1,000.
at Trust CetfGt Am., N. Y.
Reserved to retire
*****
$75,000. Sin&ipg^und
semiwann;. after5years.
Servlcsl Commission ed District, on June 22 1910 authorized
to mak ? a
'
.
outstanding of the merged companies, viz.: Newark (N. Y.) Gas Light &
Fuel Co.. $31,000 20-year 5s dated June 1 1899 (excluding $19,000
pledged
as collateral); New Light. Heat A Power Co. of
Newark. $75,000 15-year
5s dated July 1 1905, and Wayne County Electric Co..
$100,000 20-year 5s
dated April 16 1901; and (c) $131,000 to be sold at not less than 90 to
pro¬
vide for Improvements upon the gas and electric properties, *.<The
Issue of
$200,000 capital stock In $100 shares was given In exchange for the $245,000
stocks of the consolidated companies.
The Palmyra Gas Ail Electric Co.
and the Lyons Gas Light Co. had bond Issues of $40,000
anife$30,000, re¬
spectively, but these were outstanding only as collateral and are retired
5 together with all the other old bonds other than
thb$75,00Q os of the New
Light, Heat & P, Cot,j; Pres. & Treas., William T. Morris, Fepn Van, N. Y.
j Prior to the tner«rer,„all of the companies, menred
Jwere controlled. along
With the Defiance GastA Electric Co. (V. 88.
p.1256), wego Gas Bight Co. and
KPenn Yan Ga$ Lights Co., by.a holding compan- the United States Gas
i A Electric
as.
Co.j. of which Mr. Morris Is Pres. A
mortgage to secure an Issue 6! $730,000 bohds and nElectric
The_U. S. Gas A
Co., vHiose share capital Is $400*000, In $ 00 shares controls by
4,t)OO at the present tHne.namiely:<n) $107,000 to
discharge ownership of stock the Wayue County
AElse
Gas
•anYan Gas
<fc) $206,000 f6r Refunding at not less than par bonds now
lAJCo. (V. 91; p. 9481 rand
ajlso
other
nanMilii
the
companies
Oar. 29
THE CHRONICLE
1910.]
1175
NORTHERN PACIFIC RAILWAY COMPANY.
FOURTEENTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDING JUNE 30 1910.
EARNINGS.
Office of the Northern Pacific Railway Co.,
St. Paul, Minn., Sept. 23 1910.
To the Stockholders of the Northern Pacific Railway Company:
The following, being the Fourteenth Annual Report, shows
the result of the operation of your property for the fiscal
year ending June 30 1910.
FREIGHT BUSINESS.
Freight revenue was *$48,758,736 25, an increase of $1,685,431 12, or 3.58% over the previous year.
5,419,084,365 tons of revenue freight were moved one
mile, an increase of 158,591,705 tons one mile, or 3.01%
over the previous year.
The rate per ton per mile increased from .00895 to .00900.
INCOME ACCOUNT.
Increase (+) or
1910.
1909.
Revenue from
Freight
Passenger”
Other
Decreased—).
train load decreased from 434.59 to 429.28
The total train load, including company freight, in¬
creased from 520.71 to 563.65 tons.
The
Transportation:
$
$
5
47,073,305 13 48.758,736 25 +1,685,431 12
—
.
^...17,330,608 06 21.333.312 84 +4,002,704 78
revenue
from trans¬
3,671,816 80
+255,715 08
67,820,014 91 73,763,865 89
+5,943,850 98
3,416,101 72
portation
Totals..
Revenue from Operation
than transportation
Total operating
other
640,732 30
Passenger revenue was $21,333,312 84, an increase of
$4,002,704 78 or 23.10% over the previous year.
Mail revenue was $1,032,891 12, a decrease of $30,165 78
or 2.84%.
Express revenue was $1,573,000 11, an increase of $159,442 04, or 11.28%.
Excess baggage and miscellaneous passenger revenue was
$333,468 62, an increase of $22,984 67 or 7.40%.
The total revenue for persons and property carried on
passenger trains was $24,272,672 69, an increase of $4,154*965 71, or 20.65% over the previous year.
The number of passengers carried was 9,639,994, an in¬
crease of 1,235,282 over the previous year, and the number
of passengers carried one mile was 976,772,093, an increase
of 209,332,628 or 27.28%.
The miles run by revenue passenger trains was 12,574,907,
an increase of 3,003,475 or 31.38%.
The rate per passenger per mile was .02184 and .02258
+121,228 00
+ 856 21
12,927 67
12,071 46
Operating Expenses:
of
PASSENGER BUSINESS.
revenue..68,460,747 21 74,525,826 19 +6,065,078 98
Per mile (average)..
Maintenance
761,960 30
and
way
+2,995,904 85
8,992.137 09 +1,146,447 74
919,199 03
1.036,403 62
+117,204 59
20,305,621 20 24,045,197 09 +3,739.575 89
1,102,444 72 1,070,712 33
—31,732 39
7,847,050 35 10,842,955 20
structures
Maintenance of equipment. 7,845,689 35
Traffic
expenses...
Transportation expenses
General expenses
.38.020.004 65 45,987,405 33
Per mile
+ 7,967,400 68
7,977 24
6,703 94
(average).
+
1,273 30
.30,440,742 56 28,538,420 86 —1,902,321 70
—417 09
4,950 43
5,367 52
Per mile (average).
Outside Operations:
parlor,
Sleeping,
lining and
tlon. dl
s
Total net revenue
Taxes accrued.
Per mile (average)
+ 173,115 31
602,474 89
429,359 58
.
last year.
30.870,102 14 29,140.895 75 —1,729.206 39
:..L._ 2,547,834 67
449 25
3,621,999 80 +1,074.165 13
628 29
+179 04
OPERATING EXPENSES.
..28,322,267 47 25,518,895 95 —2,803,371 52
Operating Income.
Other Income:
Dividends and Interest on
securities. Interest on de¬
posits and miscellaneous.
CONDUCTING TRANSPORTATION.
2,355,670 81
2,506,474 91
+150,804 10
452,218 91
160,578 51
—291,640 40
+399.503 94
1,289,252 04
889,748 10
Rentals received...
Hire of equipment
32,019,905 29 29,475,201 41 —2.544,703 88
Gross Income
Deduct:
Rentals paid
337,136 34
509,927 90
+172,791 56
Interest on funded debt
6,775,002 50 6,669,014 17
—105,988 33
Interest and commissions on
new stock subscriptions.. 3,268,416 36
—3,268.416 36
14,105,000 00 17,360.000 00 +3,255.000 00
Dividends on stock
„
revenue
tons.
+ 53.386 87
...24,485,555 20 24,538.942 07
Totals.
4,936,259 34 —2,598,090 75
7,534,350 09
Net Income for the year
Ratio of operating expenses to
total operating revenue....
Ratio of taxes to total oper¬
ating revenue..
55.54%
61.71%
+6.17%
3.72%
4.86%
+1.14%
The charges for transportation expenses were $24,045,197 09, an increase of $3,739,575 89 or 18.42%, of which
$1,973,532 66, or 9.72%, consisted of labor.
Passenger train mileage for the year increased SI.38%
over the previous year, which also necessarily entailed a
large increase in transportation expenses.
MAINTENANCE OF EQUIPMENT.
The charges for Maintenance of Equipment were
137 09, an increase of $1,146,447 74, or 14.61%.
$8,992,-
LOCOMOTIVES.
1,32S
Total number of locomotives on active list June SO 1900
Additions:
Purchased:
Switch locomotives
Pacific type passenger locomotives
Mikado type freight locomotives.
Mallet type freight locomotives
26
44
40
11
MILEAGE OPERATED.
during
Changes have taken place in the mileage operated
the year as follows.
There
1,443
Deductions:
Sold
Dismantled.
added:
were
126
—
6
6
.
.
13
—
Miles.
Jan. 31 1910,
Shields
River
Valley
Ry.,
Junction to
Wilsall,
72.03
In addition to those on active list, there are 26 locomotives held for
sale; four engines having been sold or dismantled during the year..
24.82
HAULING CAPACITY.
119.75
Total additions
80.82
Net additions
5,733.30
Mileage operated June 30 1910..
—
Added.
Destroyed
Total
Sold and dismantled
1,443 44,042,900 198.933.042 251.514,152
13
243,500
1,074,500
1.350.650
iv.4 i.
3
2
id
Average weight of Locomotive
without Tender {Tons).
6
■u\i
M
,.\j
150 "•
180 ""
;.r isqw ^
t
je
■
i
Vt.
I
■ ■ .-•••
i.artr-i,
.3*'.
* *■
hi
44
124
’40
150
220
t*
9
>r-:4
■.
.l:
VgUUA&i wJUfc4i«nct9 tK7kj> &fts oat:, iLm$120*-i ,<$
22
0i\
5'-s
+
if
•
H**
.OCrMN
Sh'-i
'
t
’i
-*r*>
aJLy-cd
10.80#
25.30#
26,50#
18,155
37,44#
34,80#
13,88#
26,115
26.52
60.64
68.50
44.34
75.68
.
6#.27
44.80
28.46
79.36
93.00
84.39
111.62
102.25
130.35
170.70
218.98
*65.32
59.48
75.00
-+
Average
Tractive
Force (Lbs.)
On Drivers.
27.60
60.64
68.50
53.38
88.77
72.51
4
.
28,743,500
The following statement shows the character and the con¬
dition of the locomotives of the company on June 30 1910:;
3
206
9
139
143
2
127
292
25
21.873.55#
4,869,700
...1,430 43,799,400 197,858,542 250.163,502
Total
Total.
6
'; 89
120
Note.—On account of several compound engines being changed to simple,
the weights and tractive power for assignment as of June 30 1909 do not
show the same total as was shown In annual report for 1909.
and Sold.
3
183
9
142
145
2
137 e:
192
Power.
1,323 39,173,200 177,059,492 222.770,652
Owned
June 30 1910.
Condemned
Owned
June 30 1910.
5.814 12
—5,764.83
Average mileage operated during the year
No.
Assignment June 30 1909
Added during fiscal year
38.93
Total deductions
■Jf
Total weight Total weight
on Drivers,
of Engine.
Tractive
Active List—
Oct. 31 1909. Main line In Washington transferred to sidings. 1.35
Jan. 31 1910. Red River Branch in Minnesota shortened
87
June 30 1910. Main Line In Oregon—North Portland to
Goble—leased to Astoria & Columbia River
RR. Co
35.15
June 30 1919. Corrections by line changes and re-chalnlng— 1.56
26
1,456
Total locomotives owned
Deductions:
Mileage operated June 30 1909
1,430
Total number on active list June 80 1910..
22.90
Mont., constructed
Jan. 31 1910. Lewiston Junction to Lewiston, Idaho (Union Pa¬
cific RR.), leased
Jan. 31 1910. Pasco to Snake River Junction, Wash. (Spokane,
Portland & Seattle Ry.), leased
43.85
:
88,50#
,
,
70.58
„■
76.75
101.68
0
150.72
i: 201.90 i m tti aU
I-
•f a
*+■
s
irff
.5
63.33 rwrr
’ty
..81,58#
'-22*122
.Jill
Ki.f.vsji'al"
a
•;q
n ft r
S3 <d)
ssSj
THE CHRONICLE
comm™—
Number. Percent.
81.18
Fair
At skops.
%
:::
100.00
3
0.206
• 58 i
81
...
PASSENGER EQUIPMENT.
On June 30 1909 the
company owned 1,005 passenger
train ears, including 103
sleeping cars, owned jointly with
the Pullman Company; on June 80 1910
1,119
passenger
train
port).
The passenger
active use from
equipment of the Company was in extremely
July 1 to Dec. 31 1909 and could not be
shopped during that time. On June 30 1910, of the 1,119
oars owned* 394 oars were not due in
shops for two months
or
mono.
FREIGHT EQUIPMENT.
Comparative number and capacity of freight
Capacity.
(Tons.)
No.
Box
-88,052
1,432
.
869,770
oil
13
.
Ballast watt «m.
4,932
345
198,985
842
•3,680
.
or
Dec.-
Capacity.
(TonsS
No.
(Tons)
1,305
91,060
210
130
*52
8,970
4,050
8,614
880,887
19,770
39,675
61,250
291,030
18
475
5
5,193
216,955
261
616
32,640
*26
789.827 24,357
10,800
638
35,625
1,562
62,410
2,618
428
BRIDGES AS THEY EXISTED JUNE 80 19X9,
Aggregate length
No* Lineal ft. Mike.
Steel, Iron, stone and concrete permanent
bridges..
522
86,608 16.42
Timber and combination Iron and
timber structure#.2.657
427,995
81.06
-
Totals
.8,179
514.693 97.48
Total length of timber structures
replaced by steel bridges, embankment
or in other
permanent form, from July 1 1885, when work was
to June 30
commenced,
1910, has been 118.21 miles.
STATION BUILDINGS.
-Inc.
Capacity.
No.
*1,160
465
21.260
130
17,970
•1,040
Cloyuet, Minnesota.—The
Perccntaae
W1
Avge. capacity par
*
ear.
S3.8
....
35 2
2,318 141,240
5.59% 10.08%
1.4
Hapawa
Of the total number of freight cars on the road on June 30
1910 only 1,744, of 3
■98%, were in need of repairs costing
$5 per car
or more.
In addition to equipment shown as on hand June 30
1910,
the following have been purchased
during
the current year
and will be delivered this autumn:
Pacific type passenger locomotives
Passenger Train Cara:
First-class eoaehee
Dining
18
1
aars
Observation
9
4
aara
11
24
Freight Train Cats:
Box earn, 40 tons capacity.
Refrigerator cars
Gondolas. 50 tons capacity
33
71
24
848
_
:
Hart convertible ballast cars, 50 tons
capacity
DEPRECIATION OF EQUIPMENT.
In accordance with the rules of the
Inter-State Commerce
Commission, the following
amounts have been charged to
expenses on account of estimated depreciation of
operating
equipment, viz.:
$820,121 34
Passenger cars
Freight cars
Work
offices.
43,623 05
6,777 12
Floating equipment
St. Cloud, Minnesota.—The
tioned in last report was
in December last.
brick passenger station men¬
completed and plaoed in service
Staples, Minnesota.—1The brick passenger station and,
building, mentioned in last report, was completed in
January 1910. The second story is being occupied
by the
office
Division
Superintendent and his forces.
Valley City, North Dakota.---The new passenger station lo¬
cated on the new main line between
Alta mad Berea, men¬
tioned in last report, was
completed in Qcfobcsr 1909.
Bozeman, Montana.—A new brick freight house 40x300
feet, with necessary platforms, was completed in May 1910.
Coeur d’Alene, Idaho.—A frame
depot 30x131 feet has
been erected and
placed in service.
Ritzville, Washington.—A brick depot 26x100 feet is in
course of
construction.
Pasco,
building
Washington.—The
frame
two-stQry recreation
has been
mentioned in the previous year's
report
North Yakima, Washington.—The new brick
passenger
station and new brick express
building, mentioned in last
report, have been completed and placed in service.
RRensburg, Washington.—The pew brick passenger sta¬
tion, mentioned in last report, was not completed last au¬
tumn, but is now well under way and will be completed and
placed in service this season.
Tacoma,
236,899 51
1,367,424 82
cars
frame
Paul, Minnesota.—The 48x300 feet extension of the
freight house and general office building, Prince
Street, men¬
tioned in last report, was
completed in January 1910. The
second story is being used as an
extension of the general
completed.
476
Locomotives
new
passenger station,
mentioned in last report, was
completed in September 1909.
St.
#
-41.498 1.401,442 43,816 1,542,682
bascule
draw span.
cars:
1910
re¬
permanent form.
On June 30 there were under construction on
operated
lines 1,255 lineal feet of steel
girder and I-beam spans, 1,866
lineal feet of steel truss
spans, 259 lineal feet of steel trestle,
896 lineal feet of reinforced
concrete trestle, one 325-foot
and one 200-foot steel draw
spans and one 160-foot
including 131 sleeping carsvewned jointly with the Pull¬
man Company, a net increase of 114., The number and kind
of care owned is shown in table On
page 42 (of pamphlet re¬
cars,
bridges, making 8,117 lineal feet, have been
newed this year.
-.101 'timber culverts wens rpbuilt this year—12 in
temporary
and 89 in
m
1,456
Number •( oll-tmmtef locomotives
Number of
>o—f»Mpcfwtpfrwi With superheaters-..
40 timber
uxxjnt.
-*2.474,845 34
MAINTENANCE OP WAY AND STRUCTURES.
The charges for Maintenance of
Way and Structures were
$10,842,955 20, an increase of $2,995,904 85, dr 38.18%.
The table in the report of the
Comptroller shows the dis¬
tribution of this increase under the
respective accounts.
The following statements give
particulars of the work done
and show that the
property has been maintained and im¬
Washington.—Work on the new passenger depot
is in progress and it is
anticipated that the building will be
ready for occupancy by the first of January next.
Snohomish, Washington.—A 52-foot extension ctf the ex¬
isting depot has been completed and placed in service.
Minor station improvements have been made
during the
year as follows: 21 new wooden stations
tions remodeled; 9 stock yards built or
erected; 18 old sta¬
improved; 3 Woolloading platforms constructed; 13 section, bunk, tool and
oil houses erected; 3 track scales
installed; 2 ice houses erected.
For the Commissary
Department, a cottage has been
erected at Garrison for the
proved during the past year to such an extent that
manager of the lunch room, and
expendi¬
tures pf equal
magnitude will not be necessary during the an extension to its building at Seattle has been instructed.
current year:
Other miscellaneous structures have been built, such as
PERMANENT WAY.
shedi for motor car at Duluth,
Passenger Engineer's service
1909
1910.
building at Livingston, booms and rock-fihed crib piers at
New mats Mate laid with 854b.
rail, miles
29.43
2.40
New second train laid with 85-tb.
Little Falls, Minnesota; and electric
rail, miles
115.54
testing and charging
5.33
Vm
trAek laid with 90-lto. rail, miles
building at Seattle and a tetegrapn office at the old city
45.23
bf yo-lelff iHtb new 90-<tto. rail, miles.
18.67
741.47
And vebM *iib new! 9©-H>: rail, miles
limits, Portland.
t.00
*
..
t
HnerelMdMtli
_
new 85-Ib. rail, miles
Second track re-laid with new 90-lb. rail, miles
Second track repaid with new*5-lb. r*R, miles.
Sidings and spate konatructed. miles...
874.18
19.00
51.16
36.06
5.54
180.77
‘
75 .86
420.13
870.00
teSSSMlllil
fwto Ua* Mes_..
Grtws-tie renewal*,
1,306470
ss-tle renowale, branoh lines, tins...
871,010
iber bridgee replaced by permanent
structures and
embankments, 173 in dumber, equal to, miles
1.65
Timber bridges renewed...
44
Timber culverts replaoed
217
New stock fence constructed, miles.:
272.57
New snow fence
constructed, miles
0.50
5.75
40
101
159.84
15.59
jDuluth and between St. Paul,
arid Portland will have been laid with
heavy
steel, tri&h the exception of the line between Brainerd
and
Duluth, Seattle
Staple*, Minnesota, 30 miles, and
a few points where
changes
contemplated.
BRIDGES.
During the
year 213
bridges were replaced arid 114 aban¬
replaced by. timber structures and 22 per¬
doned. 40 were
manent and 151 timber structures
nent
form,
as
were
follows:
replaced in
Brainerd, Minnesota.—-New buildings necessary for the
operation of a complete foundry for fuirriishing iron ahd brass
castings are under construction and wifi be completed this
autumn.
On June 30 1910 2,940.69 miles of
important main lines
of the Company were laid with rail
weighing
85 or 90 pounds
to the yard,
By the close of the calendar year 1910 all main
line between St. Paul and
in curvature and
grade are
SHOPS, ENGINE FACILITIES AND YARDS.
perma¬
Northtown, Minnesota.—A thirty-«ta!l roundhouse, 854oot
turritnble, shops, coal dock and other terminal bluings whh
yards of about 2,000 cars capacity are under construction
and will be completed this autumn.
Como, Minnesota.—Additions to present paint and oar
shops and construction of a new two-stoiy brick paint storage
bunding 40x60 feet are under construction and Brill be com¬
pleted this autumn.
Jamestown, North Dakota.—Ten round-house stalls to re¬
place those destroyed by cyclone, together with eight addi¬
tional stalls, including necessary piping, hot air ducts and
heating coils have been completed.
Turtle Lake, North Dakota.—A two-stall
'frafi|e engine
house to replace the one destroyed by fire has
been completed.
Glendive, Montana.—A new fan room, fan engine, coils
and extension of ducts to connect with old ducts
pf round¬
house heating system has been
completed.
Whitehall, Montana.—A four-stall 90-foot engine house
has been completed.
>
Wallace, Idaho.—A six-stall 104-foot engine house is under
construction and will be completed this autumn.
„
Tote)—
____173
“
30,373
“
THE smomQm
dp*. 3919m]
mm
Livingston, Montana, mentioned in tfye pre^
Coal dock at
vio^v^srep^t.andaiiew c&al doekttt Bfiihigs, Montana,
been
completed.
Settle Railway
Co?.’^^ddSlonal charges
$70,729
New
steel water tank
tons
of100,060$
capacity has been
ihpleted at Livingston /
Ne% Wooden yi&fer tahfcs 61 1001000 gallons capacity have
been completed at Banders, Whitehall, Montana Central
crossing, Clinton, jfddt&na, and at Mesa, Washington, and
one 0118,000 gallons capacity at Sheyenne. North Dakota.
Grimt^ waler iitippry has been installed at- Whitehall,
QQ
Montana, and Sisco, Washington.
Water-softening plant Of «0u,u0O gallons capacity per 24
houfs bas been installed aft Brackett, North Dakota, and one
of same capacity is under construction at Magnolia, North
Dakota.
An earth reservoir of 3,800,000 gallons capacity, a wooden
tank of 48,000 gallons capacity, and pumping plant, have
been constructed at Marion, North Dakota.
A reservoir, concrete dam and spillway have been con¬
structed at Glen Uleh, North Dakota, and at Dickinson,
North Dakota, a dam has been placed in the Heart River,
a reservoir,
been constructed.
forming
and
a
pipe line and
pump
house have
pliances of
TurtleLake eatenaUm. Worth Dakota
a^TOi%giSi7ISpiifg
fS'lnit
River Branch extension, Washington.
10,832 ll
Green
Surveys and right of way—North Dakota and
Way Mr a4«tto#»I
ts of way at
'
track
St. Cloud to Rice’s, <Minn~. ~ second ’main "track
Philbrook to Stapl^.Mnin. .second main track
_
Wadena to Lake Park, Minn., second main
Lake Park ~to
track—”
double track.
Carman: Mechanical interlocking
the Great Northern Railway.
plant for crossing with
the mam line with the Yellowstone Park Branch.
Silver Bow: Mechanical interlocking plant to protect cross¬
ing with the Butte Anaconda & Pacific Ry.
Garrison: Mechanical interlocking plant to protect junc¬
tion of the Helena and Butte lines.
Garrison to Missoula: Automatic electric block
signals.
Washington.—-Tacoma-Seattle: The block signals men¬
tioned in the last report have been installed and placed in
service.
KalamA to Vancouver: Contract has been let for installa¬
tion of electric block signals.
Oregon.—North Portland to Portland: Contract has been
let for installation of electric block signals.
Contract has also been let for suitable signals on the double¬
track bridges over the Columbia and Willamette rivers and
approaches to and connection between them.
POGKS AND WHARVES.
In pursuance
of the Company's policy in making steady
improvements at Duluth and Superior in its docks, the fol¬
lowing work has been completed or is under way.
Timber cribbing at Deck No. 1—filling and planking has
tumn.
Frame warehouse
warehouse destroyed
Dock No. 2 will be completed this
au¬
Dock No. 1, 80x700
feet, to replace
by fire, will be completed this autumn.
Dredging of the slip at Dock No. 4; so as to give an aver¬
age depth of 20 feet, has been Completed.
/ At Seattle: Extension of Piers 1 and 2 has been completed,
the docks being constructed with creosoted piles; warehouses
have been enlarged and this new facility is now in active use
on
t crodltr24,000 66
—
.
.
_
BUlings;Mont.’,"second'r&In
fsnd
57
M
89
79
29
J'm?cttoh”td ‘mu¥,‘ lidift;,” second
453 19
double track.
l;$76jr®991
—*
.
Kh|jhl4to vaftoouver, Wafh.. second male ^
NhSfportland to’Portland CityTtadte",’6re.’, *
SOdphd math track..
—
^
*
—
49,1*45 79
4,f$t,717 46
Additions and Betterments:
Wisconisn.—Superior: Mechanical interlocking plant for
crossing of this Company's line with the Minneapolis Bt. Paul
& Sault Ste. Marie Railway.
Montana.—Huntley and Billings: Automatic signals for
protection of the Yellowstone River bridge.
Laurel: Mechanical interlocking plant for the protection
of the yard and the connection with the Great Northern Ry.
Billings to Livingston: Automatic electric block signals.
Livingston: Automatic signals protecting the junction of
been finished.
Timber cribbing on
96 09
"GlyndonMInn ~ ~ second 'main
...
Wheatland to Buffalo. N. D., second main
track
,
46,213
Alta to Berea, N. D.. second main track.
(credit) 1,9$5
Bloom to Jamestown, N. D., second main
14,193
to
track 141,377
183,984
BHUmrs to Laurel, Mont., second num,track,
ton to Mmr, Mont., seefefid mAln.trach
follows:
Minnesota.—Between Northtown Junction and St. Cloud:
Automatic electric block signals f<& double track.
St. Cloud: Electric interlocking .plant for crossing with
plant to protect the
junction of the Winnipeg line with the main line.
Staples to Dilworth: Automatic electric block signals for
99,907 U
line And new tsafl
Ave., Wis., second maiA
Superior to CemtraiAi
volume of business moving
the Great Northern Railway.
Manitoba Junction: Interlocking
*8.076 39
Ritsvllle-Ellenaburg cut-ofl. Wash., right of
of your company, safety ap¬
kind and another have been authorized, as
one
itmm
DeSmet to Pamdlie, Montana—,
White Pine Hill, Montana, grade revision...
HbSttey
BLOCK SIGNALS AND INTERLOCKING PLANTS.
On account of the growing
over the important main lines
Of
33,264 60
WATER SUPPLY.
in connection with the Alaska trade.
Right of way and station grounds
Widening cuts and fills
Protection of hanks
Grade revisions and change off lineTunnel ImprovementsBridges, trestles and culverts
Increased weight of rail.
—
$104,066 *3
25.260 59
§5.091 47
91496 8$
246 45
--
195,zi4 7%
;
—
991 «9$8 -98
»ClSS|3^dso«Vt-efQ::::::::
Ballast
dSSBfl
196*46 6#
—— —
$7,852 Q4
Additional main tracks
Sidings and spur tracks
Terminal yards.———
-
.:
——
‘
right ofof way....
f'ehclng
over and under jgrade crow
mprovements
elevation, elimination of grade cross¬
ings, &c
Interlocking apparatus
and otftw signal apparatus
Telegraph and telephone lines
Stanon buildings and fixtures
Shops, engine-houSes and turn-tables
Shop machinery and tools
" 192,418 25
192*19 99
32*92 49
6,460 09
umi
421*16 *1
-
Water and fuel stations
Dock and Wharf .property..-.
Snow and sand fences and snow-sheds
Miscellaneous structures-.—
—-
9*94,322 14
Total
New Equipment: Expenditure.
Locomotives .$2,340,646 86
Pass train car? 1,264,959 57
$w£?8908 66.264*67 77
.
99*|8 92
1,194.549*9
984 *74 19
**16 *99 29
Freight
train
Cam and Work
9*81*64 44
cars
$7,007,160 87 $1,138,282 1$
Total for the Year
8.96(8,878 68
—^^$34*07*6$ 16
——-
In addition to the above amount added to me eoet of the
Northern Pacific Estate, advances hawe been mode toeundry
companies
as
follows:
; <
$930,600 90
Spokane Portland 4 Seattle Railway Co
Clearwater Short Line Railway Co
Missouri River Railway Co
Western Dakota Railway Co..
Shields River Valley
Co
Connell Northern Railway Co
:
Olympic Peninsular Railway Co
*
Railway
Kennewick Northern
Railway Co—
i—464>114 62
——
^^94*46 75
*.l£
1*477,397 16
95,131 37
12,852 93
—-
1.
Total
3,652,058 69
4*59454 60
..4t«>to.itT m
•
A note having been given for this item, it ta bfeiur««sftriRfld to
Investments” in accordance with rules of inter-*fCto Commerce
mission. ■*
'
“OtJMr
Com¬
.
CAPITAL STOCK AND DEBT.
CHARGES TO CAPITAL ACCOUNT.
There has been no change Ip the e«n<>iin*
Upon requisition of the Executive Officers, approved by
expenditures have been made during
the Board of Directors,
the past fiscal year for:
St.
------......
Mlno., read estate
■mn
Point. Jdaho, terminals^me-WasK, tall estate—
„ _—
$0,465 to
le* Wash.* .terminals, tunnel and pas-
$ash!*tail
Aberdeen,
95
Vf—V<creJ?t)472
1,959 no
....
$141,343 82
■
$485,006 99
PRAIJUE
COMPANY.
simplicity in oper$tio», an operating company was
organized to maintain and operate the railroad •owned partly
by the Northern Pacific and partly by the XJ^nion Pacific
Railroad Company between Oranja^vdle, Idifc),
plateau bank of Lewiston, and
{1^
Washington) vta Lewistpn, liS.R
tion connection is made with thb Pmidnd
Eailway ,&
^
^ “lL
1
For
9,376 00
- ■ ■■ ■
eellatlon of Prior Lien Bonds purcthasod with Net AfiOnoys
CAMAS
$1,269 14
ot ea*W Mnefc
1178
THE CHRONICLE
line of the Northern Pacific to Snake River Junction and the
•Spokane Portland & Seattle Railway to Pasco, thus forming
a
of
line
communication between the Camas Prairie, Lewiston,
the Clearwater Valley, the Yakima
Valley, Puget Sound and
Portland.
The new company has operated the roads since December
1 1903.
The earnings on through business are retained by
the owning company handling the same; the
earnings on local
business are applied to the maintenance and
operation of the
joint lines.
SPOKANE PORTLAND & SEATTLE RAILWAY CO.
The total miles operated by this company for the
year end-
ing June 30
were:
,
Spokane Portland A Seattle Railway—
Owned.
Spokane, Washington, to Portland, Oregon. ...371.95
Lyle to Goldendale, Washijfgton.
42.25
__
Total
Astoria A Columbia River RR.—
Portland to Astoria. Oregon
Astoria to Seaside, Oregon
_
-
Leased.
16.85
Total.
388.80
42.25
...414.20
16.85
431.05
60.30
22.80
35.15
95.45
22.80
83.10
35.15
118.25
...497.30
52.00
549.30
...
__
—
...
..
...
Total
...
Grand Total
..
The results of the operation of the Spokane Portland &
Seattle and Astoria & Columbia River roads for the
year end¬
ing June 30 1910
were:
\
Spokane Port- A storia
A Columbia. River
Railroad.
$767,987 39
land A
Seattle Ry.
$3,566,291 45
*
Companies.
$4,334,278 84
2,855.323 85
468,361 77
Outside operations
.$1,179,329 37
debit 3.970 30
$299,625 62
Total net revenue
Less taxes
.$1,175,359 07
294,675 04
$312,166 63
32,955 83
$1,487,525 70
327,630 87
$880,684 03
$279,210 80
$1,159,894 83
381,523 18
1,767 82
383.291 00
Gross Income
.$1,262,207 21
Rents, hire ol equipment, etc.
329,793 98
$280,978 62
58,878 75
$1,543,185 83
$222,099 87
$1,154.513 10
operating
revenue.
_
._.
12,541 01
_
Operating Income
.
Other income (rents, etc., re
ceived)
.
.
Balanee
$932,413 23
$1,478,954 99
8,570 71
388,672 73
points south therefrom, includ¬
ing Portland, and business handled via Portland, is now com¬
monly routed via the Spokane Portland & Seattle Railway.
The gross earnings of that railway on business
exchanged
with the Northern Pacific in the
year covered by this report
approximated $1,900,000.
During the year attention.has been given to the develop¬
ment of business in Oregon.
The Oregon Trunk Railway
Company is now building a line of road from a point near
Clarke,- Washington, on the Spokane Portland & Seattle
Railway, southwardly across the Columbia River and up the
Des Chutes Valley to Bend,
Oregon, a distance of 156 miles.
This road will furnish communication between the
great cen¬
tral
plateau of Oregon and the outside world.
Oregon Electric Railway Company,
which owns valuable rights and terminals in
Portland, and
completed lines south and west of Portland to Salem, Hills¬
boro and Cornelius, and of the United
Railways Company,
which has valuable terminals and
rights in and about Port¬
land, and a line partly completed into the counties of
Columbia, Clatsop and Tillamook, have been acquired.
These three enterprises, in connection with the
Spokane
Portland & Seattle Railway, will enable
your company to
participate in the business of Central Oregon and south and
The capital stock of the
west of Portland.
The construction and management of the
properties are
being handled by the Spokane Portland & Seattle Railway
Company, and your company up to June 30 had advanced as
its share pf the investment
$5,000,000, shown in the state¬
ment of Construction Expenditures as “Advances for
Railway
Development in Oregon.”
LINES, DOUBLE TRACK,
GRADE REVISIONS
AND LINE CHANGES.
'•*
V’jjV
'
■'
MINNESOTA.
Lake Park to Clyndon, Second Main
Tracks 26.83 miles.—
This work has been completed, except for a sink hole near
Stockwood.
Until the embankment
completely settles it is
not expected to do any more work on this
part of the grade.
Double-track is now in operation for the whole
distance; one
mile at Stockwood is not on final grade.
Saint Cloud to Rice’s, Second Main
Track, Line and Grade
Change, 141.79 miles .—Grading on this work will be finished
by autumn, and a part of the track will be laid, the balance
of the work being nostponed until 1911.
Philbrook to Staples, Second Main Track with
Slight Grade
Revisions, 6.® mtte.-^-This work will be fully completed and
ready for operation Nov. 1 except for one bridge, which will
remp|p^^mgle track until 1911 .•
rt
Motiiii
°
NORTH DAKOTA.
to
vuv;n
‘.v.
V, :••*
jamestbibn," Second Main Track, 4.99
Grading for thfcLtrf^ks& completed, and
of the raiUaid,
: f? * ^310-rai
pieces of work are finished * the Company»
’'^IJtihaf^fcuble track between St. Paul and Jamestown,
equai-4dr^58.65 miles, out of a total of 345.2 miles.)
I——
some
nhtiimi.
btt^fiSf9r4.t«^tiiit-l3e-fimrfied(When these three
of road Is
bridge material will be put in place
Missouri River Railway (Mandan North
Line), 53 miles.—
Grading is completed, except for some small slides and some
deep cuts where no track is laid. 28 miles of main track have
been laid from Mandan north to Sanger.
Completion of this
line has been postponed until 1911.
Missouri River Railway {Mandan South
Line), 72 miles.—
this line is practically completed and track has
been laid from Mandan south to
mile-post 42. No track will
be laid beyond that point for the
present.
Western Dakota Railway {Cannon Ball
Line) to Mott, 90
miles.—Grading and track will be completed into Mott by
Grading
on
October 15.
MONTANA.
Glendive East Line, from Glendive
northeastwardly along the
Yellowstone River, 55
miles.—Grading has been completed
and piers for abutments of
bridge across Yellowstone River
will be finished before bad weather.
The bridge will not be
put up, nor will the track be laid until 1911.
Huntley to Billings, Second Main Track, Line and Grade
Changes, 12.63 miles.—Grading is completed and 8 miles of
track will be completed and
ready for operation late this
autumn, the balance of the work being postponed until 1911.
Billings to Laurel, 15.36 miles.—This work is all finished
use.
Valley Railway, 23 miles.—This line has been
completed, is in operation, and the valley Is developing rap¬
idly.
Missoula to De Smet, Second Main
Track, 7.02 miles.—This
work will be completed by Dec. 15.
Bitter Root Extension, 2.76 miles.—All the work to be
done
in 1910 on this track is
completed.
WASHINGTON.
Business of the Northern Pacific
Railway between Spokane
and points east thereof and the
Gray’s Harbor territory in
the State of Washington and
NEW
or
LXXXXI.
Shields River
Total
Both
2,386,962 08
Net
No track
and track in
’
Operating revenue
Operating expenses
autumn.
during 1910.
[VOL.
forthi^riicfee
making good progress; and will be completea this
Spokane to Wins, Second Main Track, 4.4 miles.—This
work will be completed this autumn.
Wins to Marshall, Second Main
Track, 2.38 miles.—This
work has been completed and track in
operation.
Connell Northern Railway, Connell to
Adrian, 62 miles.—
Grading and track laying have been completed, but it is not
expected to begin operating this road until 1911.
Ritzville Branch, 38 miles.—Grading has been
completed
on this
Point
line and part
of the track will be laid this autumn.
Defiance Line between Tacoma and Tenino.—Careful
investigation is being made of the character of the material
along this line, but work will not be begun until 1911.
Tenino to Vancouver, Second Main Track and Grade
Changes.—This work is being done in order to provide dou¬
ble-track main line with low curvature and low
grades for
joint use of Northern Pacific, Great Northern and Union Pa¬
cific roads.
Grading, bridging and track laying have been
completed and line is operated as double-track between
Tenino and Chehalis, 14.5 miles; grading between Chehalis
and Kalama will be completed b}r or
before Nov. 15 and con¬
siderable of the track and bridge work will be finished.
The
balance of the work will have to go over until 1911
Kalama to
completed
Vancouver, 28.5 miles.—Double-track has been
line and grade and is now being operated.
on new
OREGON.
North Portland to Portland, Second Main
—Work is completed and track now in
Track, 3.26 miles.
operation.
GENERAL.
The fiscal year
just ended started with very great business
activity in the territory served by your company’s lines.. The
Alaska-Yukon-Pacific Exposition was held in Seattle from
June 1 to Oct. 16 1909, inducing a
very large passenger
movement.
The Flathead, Coeur d’Alene and
Spokane
Indian Reservations were opened
during the year and the
period of registration extended from July 15 1909 to Aug. 5
1909.
This created a large amount of
passenger business,
and there was a very general demand for land all
through the
country, resulting in a large volume of travel. The crops
harvested in the autumn of 1909 were all of fair
volume, and
your company’s earnings for the first five months of the fiscal
year, to Nov. 30, were $35,681,803 48, or at the rate of over
$7,000,000 a month, the gross earnings in October reaching
the figure of $7,793,072 82.
In August ill the Red River Valley and in the latter
part of
November and early in December in the Far
West, particu¬
larly in Western Washington, serious floods came at various
points, doing much damage and causing considerable inter¬
ruption to the free movement of business.
;
On Nov. 30 the switchmen, who were members of the
Switchmen’s Union of North America, left their
positions,
after refusing to submit their demands to arbitration-;
At
the same time an unusually
heavy and severe winter set in,
and the operation of your road from Dec. 1 to March 31
was
unsatisfactory and expensive.
;
j
ir v:
The effects of the Chicago Milwaukee &
Puget Sound line;
of the making of connectkm between the
Chicago
BwHhgton
f &
Qniney Railroad and thd-Greab Northern Railway'-at Bil[ lings: of the Spokane Portland <£ Seattle '
Railway between
! Portland and
Spokane, >and 'of the 'Mihneap(ilisiSt; Paiil &
[Sault Ste. Marie line to Duluth/were^e^enenbect-diMngdhe
|year. Notwithstandings-thk4^f
thofctft that
the gross freight teaimingsqDftvoue
Company increased is a
[gratifyingindication
of the growth of the country tributary
to its lines.
THE CHRONICLE
OCfR 2$ 1910. J
Attention is directed to the increase in taxes from $2,547,834 67 paid in the year ending June 30 1909 to $3,621,999 80
for the year ending June 30 1910, an increase of $1,074,165 13, or 42%.
The increase per mile is from $449 25 for
1909 to $628 29 for 1910.
This class of expenditure is be¬
yond the control of the Company.
Tax, amounting to $201,196 75,
JUNE 30 1910.
Dr.
To—
Operating Expenses:
between Seattle and Tacoma.
The rights of the Union Pacific
also extend to use of the
bridge over the Columbia River, owned two-thirds by the
Spokane Portland & Seattle Railway Company and one-third
by this Company.
The rights of the Great Northern also extend over the said
bridge and over the Willamette River bridge, and tracks simi¬
larly owned and over tracks owned solely by this Company,
Jan. 1 1910.
The Great Northern used this Company's property be¬
tween Tacoma and Seattle during the entire business year,
and on June 19 1910 began running trains between Tacoma
and Portland.
On May 4 1908 Ex-Judge Charles E. Otis w?s appointed
handled within the State of Minnesota.
The Special Master was appointed with “power and direc¬
tion to take and report to the Court the evidence, to examine
such evidence, make all necessary computations, find and
state the facts so found and the results of such computations,
and recommend to the Court a form of a proper decree.''
The case has been tried most thoroughly and exhaustively,
and many expert witnesses have testified on behalf of the
stockholders and of the State, and most elaborate statements
of valuations, earnings, expenses and accounts have been
submitted.
The testimony in the case consists of 4,258
pages, and the special statements supplementary thereto
fill two volumes.
On Sept. 21 1910 the Master submitted his findings and
recommendations.
He finds that the property of the Com¬
pany employed in its transportation business was
30 1908 $452,666,489 00.
This valuation does
worth June
not include
the following properties:
Spokane Portland & Seattle Ry. Co. and controlled
companies.
The Minnesota & International Railway.
The Big Fork & International Falls Railway.
The railways recently constructed in the Clearwater Valley
any of
The
and on the Camas Prairie above Lewiston.
The lines now under construction in Western North Da¬
kota.
The lines now under construction in Montana.
The Canadian property of the Company leased to the Gov¬
ernment of Manitoba.
Terminals owned in Winnipeg.
The land grant of the Company and land grant assets.
The Northwestern Improvement Co.—owning coal mines,
lands and other property.
The treasury securities of the Company.
The Master finds that two State laws, one
fixing rates
commodities in car loads, the other a two-cent passenger
and the order of the State Railroad Commission fixing
class
are all confiscatory and therefore void.
He also holds
the two laws and the order void as being direct interference
He recommends to
with inter-State rates and commerce.
rates,
the United States Circuit Court a form of decree enjoining
the officers of the State from enforcing the two laws and the
order;of the Commission* and enjoining the Railway Com¬
pany
ftombonHnuing to comply
with the same.
The case* it is hoped,) will reach the United
;j j
States Circuit
Coupt.'prior/':to;'Deci31..I910f» btuilnc/J
\ri\o ‘*Wii
The fepdrfe of the Gottiptfcoller, giye^ further details of the
trausactaonst,ofnthe CompanydiTriifG oi on;! sm;i,
:>Ulc3
ttte&fcird bf BfrfeCtofs^-nx-^xUiw;>o h ,-sjbox
’
•rtnoudh^ xitmsw
ojU
lofflwxigimi Town*
201,196 75
0,021,999 80
$6,669,014 17
504,649 20
5,278 04
Interest on funded debt
Rentals of leased roads and terminals
Other rentals
7,178.942 07
Dividends:
Nos. 48, 49, 50 and 51
Balance carried to credit of Profit and Loss below_
17,360,000 00
_
4.936,259 34
$79,084,606 54
Cr.
ByOperating Revenues:
Freight
Passenger
$48,758,736 25
21,333,312 84
4,433.777 10
Other
$74,525,826 19
Outside Operations:
$529,847 16
Sleeping cars
Parlor and observation cars
Dining and cafe cars
Restaurants
59,268 10
(Deficit) 104.869 18
118.228 75
602.474 89
1,289,252 04
Rentals Received
Hire
160,578 51
of Equipment
13,340 65
Miscellaneous Income
Interest
Dividends and Interest on securities owned and
on
2,493,134 26
deposits
;=■.
.A,
•
J.
.
L£-,r
e\
■
$79,084,606 54
v'auo
PROFIT AND LOSS ACCOUNT JUNE 30 1910 .‘Ua§
T o—
Balance of discount on
prepayment of subscriptions to new
capital stock
$73,663 03
...
Balance
71.166,410 53
-
$71,239,973 56
.
■
By—
Balance to credit June 30 1909, as per annual report
$56,172,008
Balance of Income for year ending June 30 1910 brought down
4.936,259
Balance of sundry reserve accounts
6.186,900
Balance of sundry accounts written off
25,091
For difference between par value and book value of securitloo
issued or assumed by this company and held in treasury..; •1,919,714
07
3
33
53
29
$7L239.073 56
Balance to credit of Profit and Loss as per
•Taken to credit in
mission.
balance sheet..—$71,166,410 53
compliance with rules of Inter-State Commeroo Com¬
RESOURCES AND DISBURSEMENTS YEAR ENDING
JUNE 30 1910.
(Being a condensed statement of the financial operations for the year.)
RESOURCES.
*-•
Cash on Hand and in Banks
Income
r
$33,200,454 03
JuneJ&Q 1909
for the Year:
22,296.289 94
Balance after expenses, taxes and fixed charges
Profit and Loss:
Reserve for improvements, etc., transferred
to credit of Profit and Loss
$6,186,900 33
For dltterence between book value and par
value of securities held in Treasury cred¬
ited to Profit and Loss*
1,919,714 29
*
$8,106,614 62
Less, balance of sundry accounts charged off
-
48,471 50
6.058.143 12
Land Department:
Proceeds of sales,
and interest on deferred
payments
$4,102,532 57
Less, expenses and taxes
532,323 30
Sale
8,570,209 27
672.121 75
of Sundry Property
Decrease in Securities:
_
a&fr*
In hands of Trustee of St. Paul-Duluth Division Bonds
as collateral
...
^*162.030
...
%
Increase in Liabilities:
-.i.
58,336 13
-
51
******
$2,094,050 63
Unpaid pay-rolls, vouchers, etc
Taxes accrued
2,152,386 76
■4,
‘iSSm
$70,131.654 78
4,^4*"
DISBURSEMENTS.
HK
Expenditures:
$17,380,000 00
For dividends on stock.For hew lines and real estate
For new equipment
For additions and betterments
on
rate,
f4t.MT.405 33
Interest and Rentals:
on
by Honorable Walter H. Sanborn, Judge of the C.rcuit Court
of the United States, a Special Master in Chance y iu the suit
of certain stockholders of your Company a^amst the Com¬
pany, against officers of the State and against shippers, to
enjoin the Company's observance of freight rates on commodi¬
ties ordinarily handled in car-load lots, and on other articles,
both car loads and less, embraced in the usual freight classifi¬
cations; and of a rate of two cents a mile for passengers; the
rates covering substantially all the business of the Company
<
$3,420,803 05
U. S. Government Income Tax
arrangements, which are to be
practically permanent, will prove advantageous to all the
parties and to the public.
The work of readjusting the Tacoma terminal and of re¬
vising grades and double-tracking the line between Tacoma
and Vancouver necessitated by the above arrangements is
advancing as rapidly as practicable.
The Union Pacific began operating under this arrangement
24,045,197 00
1,070,712 33
•""* ’•
Taxes:
State and county
„
'
$10,842,055 2#
8,992,137 00
1,038,403 62
Maintenance of way and structures
Maintenance of equipment
Traffic expenses
Transportation expenses
General expenses
Act of Congress ap¬
proved Aug. 5 1909, has been paid under protest.
In the course of the year arrangements were concluded with
the Union Pacific system and the Great Northern system,
respectively, whereby, for certain rentals payable to this
Company, the Union Pacific and the Great Northern were
granted the right of joint- use and occupation of this Com¬
pany's main line of railway, and appurtenances, between
Tacoma and Vancouver, Washington.
The Great Northern
was also granted similar rights on this Company's main line,
into Portland.
It is believed that these
INCOME,ACCOUNT FOR THE FISCAL YEAR BINDING
The Corporation Income
assessed by the United
States Government under Section 38,
1179
$4,844,061 23
5,868,878 68
...
.j.
3,594,322 14
.
Increase
Increase
Increase
Increase
14.340.357 68
1,373.842 43
862.085 98
in Construction Advances to Railway Companies
in Current Assets of Land Department.
—--in Cash in Hands of Trustees of Mortgages
in Current Assets:
Treasury securities
Material and supplies
:
-
.....
..
14,307,282 10
—
$7,081,216 37
■
2,880,761 79 r
r -
.
‘
r'-'
••
•
;•
$9,911,973 07
.
v
Less, decrease in accounts and bills receivable ■ 1,069,684 46
Decrease in Mortgage Debt:
MWT*
accounts...-.-i-i——vfa-(--'-$4,190496-;98 vol
E38588?*4, Att,ole
dSSSX
:Resetve.;
,
4a ^ i HO /J
Interest and dividends
Se0'
00
unpaid.—.—-rj.—~.n< ( .v$3 *9633$
Cgjsh on HaAd and in Banks June 80 1910: iLPia-i ikisAlSiaeti
ImG ivtfl .18. iw.wiwi
i.auUrt
la
a to -iuc ,89
Written ;upin cottipliapqe fqith
*d hiw
boog
nl ham
v.
il'Stf
THE
CHRONICLE
[tot.
0.$248,0 2098,56 0
194 ,870 57,479543
6
8
,
1
9
9
8
6
19,078630
$5046,
1007,6350
txxxxi.
751,6340 $164,05236
.
Liabltes
Capitl
Total
9_'“SDE~C“U-BRTT;6Pacif|%■GretQ'$215,07Compny-'s63 dt$u2o7c8mh4epa,n0iers95np1aid ruenptasid64,20 DUE:$rape8an5y3dtbs9l.147i6m,*)ITEMS:._Hi(FIn$sura9cde1)823,5
$
1
5
6
,
7
4
9
RCOBAMPASIJLNL3YW1H—UGE9NY0RT.
3307,2956 5,9067
E(PNEosrthai*fe»):la$3en14t8c,d.5s,9 $38qu107ip,m5e.4n,vt depr7c,ia9to8n01.45' 6*—$3 aicoonmvpr;anizes—.:l$dg10,7,s6t3cfkRCploedg.$2jb15,in70CGtmahrpneay7scostmog-.$10c96,k48, :acfoilmnptartieedsl—d2'9,0543. ’ fafcoiolmpdlanrdiesbet$35r2m,1n7s84u6—9g. $72anm—lyitsh01o9au,se34urdm6e8d) fctmhep2ni onudrsr9e,c05iva7bl3.-468 DUE: 31rae,cn9ivtda0sbl $6 Mrogaf).RFedaumnn5pdtiosIFsur9ce 8,27341 iftCIbwmotnanhocJpheI1mriarusd-me9Scnyeinis5rtcdfe0..
LIABTES.
uu
3STOCK—omnBANNDDE pa0mhlet)b(Noorndenisue. Railwy1.
LIABTES:balsenrcveics awounghedrs pacayoubntlseidivernsst,ablite NLIABOTESidnivteernss,(partly CREDITitecrmds SAPURROPLITED:fuornthdesrinvestd LOS.
bCAPITAL.MORTGAE,(opnadgseTrust jotoinatl)Nrthen
WORKING Traeafnaicdr Audited Miscelanous Matured working ACRUED Unmatured Taaxceruesd DEFR D defr d Iinvnestd specifaly PARNOFDIT
Mortga e Colater lNorthern Great portion
Other
Less
Other
684,315
4Q97OAI
11Q
45^,6821 3 409,1642* 7 $540,8630
PACIF
Not
$164,05236
Aset
Capitl
Total
NORTHEN
AS ETS.
depacrtumr¬n aset.
Equipment;.
W1w
P
■v
T&n<i
rent
said than
~itfcGhngoSBtaraesrhocdnelumpblysMv.w.
company.
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y
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,
EAQUIPNMNETJ159t07<40—*eRoad, Ji390u7^-anRped foarecsrruved:V'• SECURIT:Secopurritfisty,coonmepa-hnyaf's spelecdugrit ' Secpouroritefiestay, INVESTM:tporo y, Msvcelsanoues, AWSOREKTING: SisecouureitrdesM(aorsketechturibelrbialcnsivdablecasnanrcdrcsfdbalouangmceeetMiscaeclanouonutss apnldie NIACCORUMETDEUidnnimvteaterunredss,DIDTEFEERMBSIDT: .dT(ewrupsottehitSisinencukrtgisanecnurtd SbhBaelancsnet
ROAI^ Otos>st
since
G&st
.
Chicago secure maadend Northern Other
to
dess
This
:
f*>
-
,
OTHER Advances
Cash
Loans Traf ic
Net
Material
Advances Special and Cash
Cash
-
■
;
.
C-
Note*—This
hertof e
0(31. 29
THE CHRONICLE
1910.J
1181
PASSENGER AND FREIGHT STATISTICS.
1909-1910.
1008-1909.
Miles,
Amount,
Tons, Ac.
Rate, Ac.
Totalpassenget train retrehue—
$3,547 29
16,800,504
18,268,998
5,419,084.365
5,260,492,660
2.80
2.67
,00895
$8,457 03
.00900
evenue
8.74
3.0$
511
16.5
0.13
64
$74,007,275 33 $5,027,314 6
833 40
12,837 72
6.94
2.93
3.14
1.75
1.39
Revenue par tWUn mile
Expenses per train mile—,— -.
Net traffic revenue per tram mile
.
,0000
$170 22
$6,627 25
$68,079,960 69
12,004 32
gevenue pCr
freight
passengermileage)
trains
frommile
and (average
of road
1,468,49
158,591,70
$48.733,736 25 $1,685,431 I* Z.l
975,866 39
86,917 81
49,734,602 64 1,772,348 9?
$47,073,305 18
888,948 58
47,962,258 71
Total Train Traffic-*-
.00074
$663 19 18
296.6
313.1
Aversige distance haul of bne ton
Freight revenue
* *- -Other freight train revenue.
Total freight fralft revenue
Average receipts from eaeh ton of freight....
Average receipts per ton per mile revenue freight
—
Freight train revenue per mile of toad (average mileage)..
.19
2 21
.02184
$4,210 48
.02258
Freight Traffic—
mile.
1,235,282
209,332,628
101.3
10.0
$21,833,312 84 $4,002,704 78
2.939.359 85
152,260 93
24,272,672 69 4,154,963 71
2 06
-
PaSse^gCr^ralETe^emi^pef mlfe^road Taverage'mllea’ge)
Number tons revenue freight carried..
Number tons revenue freight carried one
93.54
976,772,0931
$17,330,608 06
2,787,098 9‘
20,117,706 9
- - -
Decrease.
Per,
Cent‘
9,639,994
8,404,712
767,439,465
91.3
Average amount paid by each passenger.
Increase.
Rate, Ac.
5,764.83
5,671.29
Average mileage lor the year.
Passenget Traffic—
Number of passengers carried.
Number of passengers carried one mile
Average miles traveled by each passenger.
Passenger revenue
Other passenger train revenue.
Amount,
Miles,
Tons, Ac.
Vie
6.3
0.07| 4.0
1.8
1.1
19.4
0.27
TRAIN AND CAR MILEAGE STATISTICS.
1908-1909.
1909-1910.
Miles,
Miles,
Tons, Ac,
Tons, Ac.
increase.
---
-
348.5Q6
*
-
-
—
...
-
- -.
-
—
25,211,191
2,065,486
63,507,423
80,516,012
12.499}
operating revenue
99,
or
8.2
per
cent)
289,030.756
296,226,812
7,190,056
76,398,54?
79,300,801
2,002,254
11,223.216
376,658,519
268,003
209,049
477,952
11,925.953
387,543.566
188,410
702,737
10.685.047
8,873.0081
8,377,47&|
ROAD AND
2.89
29.93
86.4ii
75.02 156,836
49.66 237,329
5.59 495,593
1,72
.41
.32
.02
.43
1.42
52,213
240,623
23.47
6.29
29.76
21-14%
V.55
429.28
18.29
.4
iiS.ffJlliS
2.04
il'it
.5f
COMPANY.
$15,274,509 36
Operating Income—
223,231 82
318.497.741
18
10,749,860 10
lppwne--v—
Interest and rentals
Balanfs of Income* after .providing for all charges, being
6.3 per cent on capital stock ($75,000,000 00)
$4,747,881 08
Dividends paid (5 per cent on capital stock)
3,743,272 00
Balance, surplus for the year (decrease $1,231,602 01,
55.1 per cent)
comparative income account in detail,
EQUIPMENT.
3$ 1907** increased
$19,152,201 SO during the past year, which figure includes
the value of new equipment purchased
wise acquired, ana $3,311,942 84 for
under trusts or other¬
additions and better¬
NEW LINES CONSTRUCTED.
et.)$18,151,210 03
2,876,700 67
Misceilanaeus income
or
$1,004,609 08
see table
below.
CAPITAL STOCK.
The capital stock of the company outstanding at the close
of the previous fiscal year was $74,859,600 00 and has since
been increased by the issue of $17,600 00 in exchange for
$17,100 00 capital stock of the Burlington Cedar Rapids
& Northern Railway Company and $500 00 capital stock of
the Rock Island & Peoria Railway Company, making the
total amount of capital stock outstanding at June 30 1910
974,877^00.
3.02
6.26}
The cost of the “Investment since Julie
-
For
.24
10.56
2.40
ments.
.
-.$66,220,578 94
Net operating revenue (decrease $520,181 51,or 2.8 per
Taxes (Increase $665,836 12, er 26.7 per cent)
Tp$6l
‘""".54
kEPORT—FOR THE FISCAL YEAR ENDED JUNE 30 1916.
Operating expenses (increase $5,555,873 56,
or 18.1 per cent)
48,069,368 81
.
.65,
.32
1.99
523.65
22.32
362",
26.78
20.84
-
(increase $5,035,-----
3.407.
18.85
434.59
18.20
24,710
17.008,580
1
20.91%
3il 240.673
1.02%
6.12
6.31
30.19
20.44 150,071
66 42
1641
14.03
74.28
520.71
21.81
To the Stoekhold&rs:
The Board erf Directors herewith submit their report of
the operations and affairs of the Rock Island Lines for the
fiscal year ended June 30 1910.
The results of the operations for the year were as follows:
691
660,313
6.16
THE CHICAGO ROCK ISLAND & PACIFIC RAILWAY
Total
2.41%
74.47
5,164,264
4,429,305
L,042,476*484 1,191,347.303
THIRTIETH ANNUAL
31.36
410,408 119.48
11.65%
23.88
Company freight—tons carried...
Company freight—tons carried one mile.
Tons per train company and cttminerclal
Tons per loaded car company and commercial
1,402.153
18.57%*
37.218
21,713.193
2,428,041
—
-
_
1,642,8—
—
,
.
734,263
11,370,2
3.59%
---
De¬
crease.
3,003,475
753,9141
6.00%
584,192
12,039.593
—
Mileage of passenger train cars
Average number 01 passenger train cars In train
AVbrage number at passengers tn train
Average number of passengers In each car
Mileage of loaded freight cars
Mileage of empty freight cars..
Mileage of caboose cars
Total mileage of revenue freight cars
Special service car mileage—freight
Special service car mileage—passenger
Total special service car mileage
Non-revenue service car mileage
Average number loaded freight cars In train
Average number empty freight care In train
Average number freight cars In train (exclusive of cabooses)
Percentage tit empty cars to total cars In train (exclusive of cabooses)
Average number tons revenue freight ih train
Average number tons revenue freight in each loaded car
12,574,907
9,571,432
Mileage of revenue passenger trains
Mileage of locomotives employed In “helping” passenger trains
Percentage of “helping” to revehue train mileage
Mileage of revenue mixed trains
Mileage of revenue freight trains
---— L-.
—
Mileage of Idcomotlves ermployed in “helping” mixed and freight trains
Percentage of “helping” to revenue train mileage
Mileage of revenue special trains
— s.
Total revenue train mll6age_Mileage of non-revenUe trains—
Per
cent.
Amarillo, Tek., and Tit
The line between
heretofore shown
,
st. it.,
under
n completed
construction* hs®
through to Tucumcari, N. M., where it Joins Vdur ttiafn line
to the Southwest, making the shortest line between Mem¬
phis, Tfehn., and Southern California, via New Mexico and
Arizona.
6.71 miles were placed in operation on August 10
1909, and the remaining 64.00 miles were completed and
placed in operation Oh May 9 1910. The fine ts laid With 60,
65 and 70-pound steel rail on White oak ties.
Standard
station buildings have been erected at Yoga, Adrian and
Glenrio, Tex., and at Endee and San Jon,* N. M.- The disas
tUridU via the heW line thvtM
Opened from MMptfft, Tehn.,
Tucumcari, N. M., is 873.72 miles. The completion of
this line made the Use by this odhspany of the Fott Worth
& Denver City Rahway from Amarillo, Tex., to ttetfhart,
Tex., 82.06 miles, unnecessary; the trackage right* were
therefore relinquished May 9 tv 10.
to
EQUIPMENT.
orders have been placed during the year for 1$4 locomo¬
tives, 5 passenger motor cars, 81 steel passenger train cars
(including 10 horse cars), 7,550 freight train cars and 7
NEW
FUNDED DEBT.
During the |«itr
debt, Mb ixtmmt equipment mm
J®
notes, increased Il5,6&2,000 00 ana equipment notes In¬ car and 3,550 freight tram dafs were mentioned Ui last year s
creased $lff,795,00d 00, making ftn increase in total funded report? 4 switch locomotives and i service eatywere also
debt of $26,477,000 00.
ordered built at the company's Shops. Thera Wede fgdefved
1182
THE
CHRONICLE
and placed in service 86
locomotives, 97 steel passenger
train cars, 3 passenger motor
cars, 3,741 freight train cars
and 6 service cars.
There are to be delivered between
June 30 and December 31 1910 104
locomotives, 73 steel
assenger train cars, 10 horse cars, 2 passenger motor cars,
,869 freight train cars and 2 service cars, except that 4
mail oars are due in
February 1911.
GENERAL.
There were located along the Rock Island Lines
during
the fiscal year, according to the
records of the industrial
department, one hundred and ninety-three new industries,
estimated to have cost nearly fifteen million
dollars, to em¬
ploy over eighty-seven hundred men and to create an annual
movement of fifty-three thousand car loads of revenue
freight.
Changes in industrial
side tracks
built to coal mines and
are
as
follows:
Eleven
eighty-eight to private industries,
thirty-three tracks to other in¬
also two mine tracks and
dustries were extended.
During the
year automatic block
signals
were
installed
and placed in operation from
Muscatine, la., to Eldon,
from St. Joseph, Mo., to
Rushville, Mo., from Iowa City,
to Neola, la., from West
Liberty, la., to Linn Junction,
and from Irving, Tex., to
expenditure during the
signals was $430,795 55.
Dallas, Tex., 388.2
la.,
la.,
la.,
miles.
The
for the construction of these
The total expenditure to June 30
1910 for the construction of block
signals was $968,192 22,
which figures include the cost of 734.4 miles
completed and
placed in operation and 233.5 miles under construction.
The telephone system of train
dispatching was installed
during the year on 1.146.3 miles of road, and at June 30 1910
the telephone system was in use on
1,602.1 miles of your
railroad, representing a total expenditure of. $162,557
16,
which figures include the entire cost of the
poles,
wires,
etc.,
on the new line from
Amarillo, Tex., to Tucumcari, N. M.
During the year the expenditures for maintenance of your
property have been larger than for preceding years. Atten¬
tion is invited to detailed information
concerning expendi¬
tures for ties, rails,
ballast, bridges, etc., on pages 33, 35
and 36 [see pamphlet
report].
Your
company
expended
$933,042 05 during the year
for construction of additional and
improved terminal facili¬
ties. These figures cover new facilities and the
completion
of those previously reported.
year
[VOL.
LXXXXI
Attention is called to the continued increase in
taxes,
amounting to $605,836 12, or 26.68 per cent, as compared
with an increase of
$480,969 76, or 26.87 per cent, last year;
making 1910 taxes $1,086,805 88 higher than those of 1908,
an increase of
60.72 per cent.
Of this year’s increase $113,-
992 42 is
account of the
on
new
Federal excise tax
on
net
income; the remainder consists of increases in taxes in various
States, only a small portion of which is occasioned by the con¬
struction of new lines.
Your company advanced
during the year towards the con¬
struction, equipment and operating deficit of The Trinity &
Brazos Valley Railway
$403,351 86, making the total ad¬
vances to June 30 1910
$2,339,992
72, of which $697,247 69
was
reimbursed
& Southern
out of the
proceeds of bonds of The Colorado
Railway Company, leaving $1,642,745 03
out¬
standing advances.
Advances during the year for
Houston, Tex., terminals
were $147,883
83, making the total advances to June 30 1910
$450,985 96. First mortgage bonds of the Houston Belt &
Terminal Railway
Company were received in settlement of
$277,669 55, leaving $173,316 41 outstanding advances.
On January 1st 1910 there was
placed in effect a pension
system, which provides that employees who, after
long years
of faithful
service, have reached an age when they are un¬
equal to the performance of their duties, will be retired and
receive from your
company monthly incomes during the
remainder of their lives, based on their
salary for the last
ten years next
preceding retirement, and the entire length of
continuous service with
your company.
By this pension
system your company hopes to build up
among
its employees
a
feeling of permanency in their employment and inter¬
est in the
company’s welfare, and a desire to remain in and
devote their best efforts to the
company’s service. The
total cost to your
company for pensions paid, and the ex¬
pense of administration of the system for the six months
ended June 30th 1910, has been
$12,037 64, and it is esti¬
mated that this system will cost
approximately $30,000
during the ensuing fiscal
year.
As announced in last
year’s report,
vision of your company’s accounts
because of the super¬
by the Inter-State Com¬
Commission, it is considered unnecessary to procure
the certification of these accounts
by an independent auditor.
By order of the Board of Directors,
H. U. MUDGE,
October 24 1910.
President.
merce
ROCK ISLAND LINES.
CONDENSED GENERAL BALANCE SHEET JUNE
30 1810, AND COMPARISON WITH
PREVIOUS YEAR.
ASSETS.
Property investment—
1010.
I
Inc. (+)
or
Dec. (—).
$
1909.
3
Road and equipment—
Investment to Jane 30
1907
255,585.343 24
Investment since June 30
1907
25,704,459 09
Reserve for accrued de¬
preciation—credit
338,009 84
LIABILITIES, t
Capital stock
Mortgage, bonded
255,585,343 24
—114,901 50
Total road A equlp't. .280.951,792 49
261,914,492 19
+19,037,300 30
Securities—
3 00
companies—unpledged
9,019,834 25
2,002 00
Total property
9,596,479 53
5,511,717 39
1,739,696 55
invest’t297,223,043
Cash
Securities issued or as¬
sumed—held in treas¬
*
—576,645 28
4,868,809 14
2,066,152 87
+642,908 25
—326,456 32
68 278,447,935 73
+18,775,107 95
*
4,541,460 59
*
ury
4,227 50
Marketable securities.17,081,146 72
Loans A bills receivable.
596,515 44
Traffic
and
balances
other companies.....
3,851,068 00
+690,392 59
1,373 17
+2,854 33
+4,698,263 86
—421,833 61
12.382,882 86
1,018,349 05
car-service
due
from
299,506 92
260,751 59
+38,755 33
1,142,880 35
992,598 61
+ 150,281 74
2,889,530 25
6,224,132 74
1,540,956 20
2,222,866 20
5,703,346 81
1.244,593 56
+666,664 05
+ 520,785 93
+296,362 64
Total working assets.. 34,320,356 71
27,677,829 85
+6;642,526 86
392,302 46
233,323 16
+158,979 30
1.534,707 44
1.632.990 44
—98,283 00
151,382 30
147,915 23
+3,467 07
7.798.005 43
50,784 76
785,861 26
+7,747,220 67
Net balance due from
agents and conductors
Miscellaneous
accounts
receivable
Materials and supplies..
Other working assets...
Accrued income not due—
’
companies
Audited
vouchers
Miscellaneous
Working assets—
-
llabllltics303,002,000
Unmatured Int., dlvs. A
rents receivable
........
advance....
Other deferred debit items
1,433,345 22
Total
deferred
ttemi--4-J.__.-._
Grand
1,590,000 00
—1,590,000 00
795,878 70
841,669 54
—45,790 84
4,557,654 52
+696,839 42
323,070 38
241,183 36
+81,887 02
2,683,910 84
2,683,607 07
+303 77
23,000 00
3,000 00
+20,000 00
189,799 69
735,643 55
188,501 40
684,425 64
+ 1,298 29
+ 51,217 91
10,005,797 10
10,790.041 53
—784,244 43
1,808,001 10
1,354,229 48
1,567,647 21
1,024,399 04
+ 240,353 89
+329,830 44
3,162,230 58
2,592,046 25
+ 570,184 33
accounts
payable
Matured Interest, divi¬
dends A rents unpaid.
Matured mtge., bonded
A secured debt unpaid
Working advances due to
other companies..
Other working liabilitiesl
Total working llabllt-
Accrued liabilities not due—
Unmatured Int., divs. &
Total accrued
ties not due
liabili¬
Deferred credit items—
Operating
reserves
Other
deferred
credit
items (see note below)
Appropriated surplus—
Additions
to
property
since June 30 1907,
through income...
Profit and loss—
1,193,907 38
852,115 02
+841,792 36
8,132,024 86
385,809 36
+7,746,215 50
9,325,932 24
1,237,924 38
+8,088,007 86
325,495,959 92 291,145,012 16 +34.350,947 76
64,367 76
64,367 76
17,292,815 56
17,767,260 51
—474,444 95
+ 647,483 96
debit
10.917,440 39
2,617,551 69
:*®4- •4-+--342.853.143 24
+8,299,888 70
808.976,640 43
+33,876,502 81
I-'» '
.
I"-*
■' "
-■
i.
—.
—
-
■
in
Special deposits (Bee note
under ••Liabilities'’)..
+26,477,000 00
5,254,493 94
and
Deferred data Hems—
Advances
Rents and insurance paid
00 276,525,000 00
Working liabilities—
—1,999 00
Advances to proprietary,
affiliated A controlled
for
companies
con¬
3
75,000,000 00
228.002,000 00 201,525,000 00 +26,477,000 00
Total capital
Traffic and
car-serviceI
balances due to other
nominal value)
Securities of proprietary,
affiliated & controlled
struction, equipment
betterments
Miscellaneous investm'ts
se¬
Funded debt
Securities of proprietary,
affiliated and con¬
trolled
companies —
pledged (carried at
and
75,000,000 00
and
Inc. (+) or
Dec. (—).
1909.
*3
cured debt—
6,552,257 29 + 19,152,201 80
223,108 34
Other investments—
1910.
3
Stock—
.
.
Grand total
wmmm-
.
*
.
•
.
I >.
•
-
342,853,143 24 308,976,640 43 +33,376,502 81
I ■hJB
„
-
-
assets,
-
-
mm
-
.1
andliabilltles of the companies
forming the Rock Island Lines, the holdings of The Chicago Rook Island A Pacific Rail
way'Cjr. ™ the bonds and capital stock of the auxiliary lines,
together with loans between the various
liabilities and a like reduction made in the assets
companies, have been eliminated from the
pertaining
thereto; the figures shown, therefore, represent
liabilities without duplication.
tne book value of the assets and the
11910 figures include 37,537.573 99 contract
ei.?n at
.ii - i;0«i
consideration for new trust equipment not
In “Spedal deposits" under "Deferred
.delivered. Cash Is on deposit with trustees andMS Included
debit items.”
„
„
fh*
..
_
■
,
l_
................
„
.
.
.
........
,
S&emQ'matl (CdWlJ
OCT. 28
THE CHRONICLE
1910.]
1183
R3CK ISLAND LINES.
INCOMB ACCOUNT YEAR ENDED JUNE 30 1010, COMPARED WITH
PREVIOUS YEAR.
Inc. (+) or Dec. (—).
Stocks—Union depot, terminal, stock yards
and coal companies:
Atchison Union Depot & RR. Co
Iowa Transfer Ry. Co_.
Face Vahis.
.
Average mileage
Percent.
3
3
8,026.38
8,043.50
oper.
Amount.
1008-00.
1009-10.
3
+ 17.21
+0.21
Revenue
from Trans¬
portation—
39,158.053
17,883.378
1.429.829
1,448,435 51
1,626,931
1,927.245 61
720,280
774,380 24
Mall
Express
Miscellaneous
Total transporta-
16
99
62
53
57
60,818,473 87
68
28
89
08
67
+ 7.82
+ 8.36
+ 1.30
+ 18.46
+ 7.51
+4,928,642 60
+ 8.10
Revenue from opera
tions other than
1209
366,413 08
+ 107,049 39
+ 29.22
61,184.886 95
+ 5,035,691 99
+8.23
Operating expenses—
Maintenance of way
equipment
Transportation
_
+ 1,621,556 66
+ 17.91
7.512.888 55
1,441,214 58
+ 942,857 17
+354,047 81
+ 12.55
+ 24.57
22.848,052 39
1,659,509 53
+ 2,347,526 35
+ 289,885 51
+ 10.27
+ 17.47
42,513.495 41
+ 5,555,873 50
+ 13.07
of Indebtedness
Funded debt—Union depot, terminal, stock
Total
2
2,876,700 67
Taxes
18,671,391 54
2,270,864 55
—520,181 51
+ 605.836 12
—2.79
+ 26.68
16,400,526 99 —1,126,017 63
—6.87
operations
debit balance)..
155,891 20
Hire of equipment
(debit balance).. 1,171,066 25
Other income
1,550,180 36
Total
223,231 82
Total tnooms
146,201 11
—9,690 18
812 .116 05
—6.63
—358,950 20 —44.20
+ 380,401 31 + 32.52
1,169,788 05
211.470 89
+ 11,760 93
+ 5.56
16,611,997 88 —1,114,256 70
—6.71
1,635.860 69
yards and coal companies:
Atchison Union Depot & RR. Co
Minnesota Transfer Ry. Co
•Peoria Ry. Terminal Co
Rock Island Imprt. Co—(32,700,000 pledged)
Rock Island Imprt. Co.—equip, series A
Rock Island Imprt. Co.—equip, series B
ex¬
penses
Outside
9,051,830 36
of
Traffic expenses..
580 73
*25.000 09
Trinity & Brazos Valley Ry. Co. certificates
473,462 47
tramp .rtation
Maintenance
Kansas City Terminal Ry. Co
Keokuk Union Depot Co
Leavenworth Depot & RR. Co
Minnesota Transfer Ry. Co
Morris Terminal Ry. Co
Peoria Railway Terminal Co__
Pueblo Union Depot & RR. Co
Rock Island-Frlsco Terminal Ry. Co.(pledged)
St. Joseph Union Depot Co
St. Paul Union Depot Co
Terminal RR. Association of St. Louis
Funded debt—Railroads:
Choctaw & Memphis Railroad Co
Kankakee & Seneca Railway Co
__
3
+3,060,827
+ 1,494,795
+ 18,605
+300,314
+ 54,099
3
AM* Tame.
9.000 09
6.200 09
100,000 09
20,000 Of
35,000 09
7,000 09
50,000 09
600,000 09
8.120 09
800,000 09
2.000 09
103,600 09
205,800 09
._
4.500 09
47,000 09
1.500 09
3,729,080 04
2.250,000 09
3,080,000 09
315.239,142 33 *9,410*337 25
Included in miscellaneous investments:
Stocks:
Coal Valley Mining Company
350,000 99
40,000 09
40,000 09
2,400,600 09
100,000 09
1,700.000 09
50,000 09
25,000 09
Chicago Union Transfer Ry. Co., common..
Chicago Union Transfer Ry. Co., preferred._
Consolidated Indiana Coal Co
Crawford County Mining Co.__
Dering Coal Co
Gasconade Ry. Construction Co. (pledged)-Gulf Construction Co
Kansas Town & Land Co
Memphis Railroad Terminal Co
Missouri & Illinois Bridge & Belt RR. Co
Rock Island Coal Mining Co
St. Louis Rock Island Terminal Ry. Co.
50,000
10,000
13,000
10,000
(311.300 pledged)
St. Joseph Stock Yards & Terminal Co
Union Stock Yards Co., Topeka, Kan
Union Terminal Ry. Co
St. Joseph, Mo.
09
09
09
64
12,000 99
12,500 09
13,100 09
,
0,129,874 61
1,547,402 01
Interest
Rentals
Betterments
on
8,861,223 05
1,567,966 93
+ 268.651 56
—20,564 92
+ 3.03
—1.31
(pledged)
125,000.04
36.000 09
Western Coal & Mining Co
Funded debt:
leased
lines-
72,583 48
16.577 16
+ 56,006 32+337.85
Chicago Transfer & Clearing Co.—Judgment
note trust certificate
10,445,767 14
+ 304,092 96
98,000 99
+ 2.91
Total.-
34,785,200 99
724,999 69
Balance
of
income
(available for divi¬
dends)
4,747,881 08
Dividends
3,743.272 00
Total In property Investment
6,166,230 74 —1,418,349 66 —23.00
—4.75
3,930,018 75
—186,746 75
Balance, surplus (car¬
credit
ried
to
of
profit and loss)
1,004,600 08
2,236,211 99 —1,231,602 91 —55.08
Dividends Declared during Year Ended June 30 1910.
Dividend No. 117, 1 H per cent, paid October 1909
i.31,310,006 25
Dividend No. 118, 1
per cent, paid January 1910
748,575 00
Dividend No. 119, 1 M per cent, paid April 1910
935,938 75
Dividend No. 120, 1 per cent, paid July 1010
748.752 00
Total, 6 per cent
Credit balance, June 30 1900
Surplus for year ended June 30 1910
Interest prior to current fiscal year on advances
.
317,767,260 51
31,004.609 08
for construction
171,912 62
Sundry adjustments not affecting current
year’s Income
Less—
31,202,408 65
Tracks removed
359,430 00
Structures sold, re¬
moved or destroyed 03,13124
Credit balance, June 30 1010
317,202.815 56
i
SECURITIES OWNED JUNE 30
Cedar Rapids Auditorium Co
Central City Elevator Co
Council Bluffs Auditorium Co
Des Moines & Fort Dodge RR. Co
Kansas City Times Newspaper Co
Nebraska Central Ry. Co
Nebraska Construction Co
St. Joseph Auditorium Co
St. Paul & Des Moines Ry. Co
The Chicago & Alton RR. Co.—preferred
The Rock Island Co.—common
The Rock Island Co.—preferred
unpledned:
-
Ry. Co
pledged)
*
;
09
09
04
09
09
09
25 09
■
*
•
44
490.450 09
7,500.000 06
273,000 09
549,000
450,000
*
9,000
5.000
1,610,000
5,047,000
Dering Coal Co
Kansas City & Northwestern Ry. Co__
09
09
,J-
-
09
09
09
09
.
Total
^__.317,767,215 00 17.991.146 72
bQnds and stocks In working assets
*17,771,442 59 317.495,374 22
RECAPITULATION.
Included in property Investment
.320,024,342 33 *9,744,835 45
Included In working assets
17,771.442 50 17,085,374 22
3106,400 00
604,500 00
5,000 00
40,000
575,100
1,487,900
10,000
:
994,300 09
Total-.
Kansas City Rock Island Ry. Co. (339,300
Keokuk & Des Moines Ry. Co., preferred
Keokuk & Des Moines Ry. Co., common
Peoria & Bureau Valley RR. Co
,
800 09
6,400
99.700
270,000
5,000
1,000
450,000
Consolidated Indiana Coal Co
Crawford County Mining Co
Face Value.
Stocks—Railroads:
Calumet Western Railway'Co
Cedar Rapids Iowa Falls & N. W.
Kankakee & Seneca Ry. Co
31,000 09
4,000 09
2,500 09
Omaha Auditorium Co
Tol. St. L. & W. RR. Co.—gold 4% series A.
•Tol. St. L. & W. RR. Co.—gold 2% series B
1010
IN PROPERTY INVESTMENT.
Included in securities of proprietary, affiliated
and controlled companies—pledged and un-
.
....
Emery Wheel Co
C. R. I. & P. RR. Co. (of Iowa)—4%_______
C. R. I. & P. RR. Co. (of Iowa)—5%
527,662 62 680,232 86 1,676,943 60def.474,444 95
44*237 5*
-
—
Funded debt:
de¬
A#9* Vatue.
34.227 59
Bridgeport Safety
Equipment sold, dls-
stroyed
Total.
Included in marketable securities:
Stocks:
■ -
-
25,976 95
Discount on bonds Issued and sold,
commission and premium on loan
made, and loss on lands sold
3996,710 74
Depreciation on—
or
33,000 owned jointly with the Chicago A Alton RR. 09.
IN WORKING ASSETS.
Included in securities issued or assumed—held
in treasury:
Face Value.
■'
■
Stocks *
The Chicago Rock Island & Pacific Ry Co_-_
13,227 69
Funded debt:
The Chicago Rock Island & Pacific Ry. Co.—
first and refunding mortgage gold
1,090 99
33,743,272 00
PROFIT AND LOSS.
mandled
•
320,024,342 33 39,744,836-44
00
00
00
00
v
Total securities owned.
•
.......337.795,764 93 326.930.209 67
Rate Increases to 4%, effective Aug. 1 1912,
CAPITAL STOCK AND FUNDED DEBT OUTSTANDING AND AMOUNT OF EACH PER MILE OF ROAD OWNED FOR TUB
TAN YEARS
ENDED JUNE 30 1910.
'
•>'
Funded Indebtedness June 39
Capital Stock June 30
Mileage
Year.
.
3,174.78
3,265.88
6.319.23
6,460.31
1803
1904,
1
*50,000,000
59,988,260
75,000,000
75,000,000
75,000,000
75,000,000
6,486.73
1907
—
mmMMlumr rs. - m.
tlO-F ****■«
m. —-w — ** -w-w **. mju-mj* -n. wwMJ-w -
GG& ‘ft
-
SM-:
6.619.04
6.986.18
7,074.09
7.085.69
(17,137:40
Charge
Mile
Amount
w -
est
Owned.
■
,
Mile.
.
00
00
00
00
00
00
.
75,000,00.0,00s, 1.
75,000,000 j)iT
!V.
•
Per
Outstanding.
—
•Annual Inter-
{Including Equipment Tr. Notes).
75.000.000,00-:;
75,000,q00 or.
*15,749 12
c
j
-
18,368
11,868
11,609
11,562
11,330
18
53
35
07
95
IUU &
Amount
•Per
Outstandingv
Mile.
*68.081,000 00;
95,601,000 00
,136,138*000 0Oh(
-
179,337.000 00
-
201,625*000 O0tz
228,002,000 00
*21,444 32
20,272.69
21,543 49
JJ.OM Jf
■
00
,
-a
;*»
per
Debt
5:“lf:®22 a*
June Zb.
.*
'
y-
’*.•* '** l •'
3939 52
1.247 49
w
v
I**.*
079 80
1.930 07
1,148 67
LiiSM
.
196,110*541
t
on
Outstanding
*
vj/:(3,177j'X0
3*170 23
1,208 69
jiL’jl .810. 06
1.369 03
te*fch 9dtM:-w4r6f'0rtiRtt*4rW»ah»i«U»l6^'- f?ohev
yJi
wuv sheers
9*i4
esiUv
»ot»d orta an
•Operated mileage
jeftMftiiJtAQi < todi te*?fc6gBTlghtsejoa -foaesyitt
—
>f) con dp
„
Uain 11m owned
jc c. tc&ss&tivst- jam.
ppifcsstf&aoa. sza&sm.
____Alfw *9fNU«*«tf
.9,163*44
*
-
1184
THE CHRONICLE
[VOL.
LXXXXI
THE ROCK ISLAND LINES.
FINANCIAL CHANGES DURING YEAR ENDED JUNE 30 1910.
RESOURGES.
Cash on hand June 3# 1909
Funded debt Increased—see page 20 (pamphlet report)
Securities of preprtefcasy, affiliated and controlled companies—pledged (decrease)
Securities of poegHrletagy- affiliated and controlled companies—unpledged (decrease).
Miscellaneous Investments (decrease)
1,999 00
576,645 26
326,456 32
-
Changes In wogklitfi, accrued and deferred accounts,
as
3421,833 61
98,283 00
Advances
$520,116 61
$696,839 42
81,887 02
unpaid
303 77
00
Matured mortgage, bonded and secured debt unpaid.
Working advances due to other companies.
Other working liabilities
U.imatured interest, dividends and rents payable—
T itcs accrued..
20.000
1,298
51,217
240,353
328,830
341,792
7,748,215
—
Operating reserves
Other defiwred cnadfct Items
$27,382,100 60
follows—
Decrease in ossata—
Loans and bills receivable.
Increase in liabilities—
Audited vouchers and wages unpaid
Miscellaneous' accounts payable
Matured Interest, dividends and rents
$3,851,068 00
$26,477,000 00
_
;
29
91
89
44'
36
50j
9,500,738 60
$10,029,855 21
Less—Increase in assets—
Securities issued or assumed—held In treasury
M
Marketable securities
Traffic and- cap-service balances due from other companies.
Net balance due from agents and conductors
Miscellaneous accounts receivable
Materials and supplies
Other working assets
Unmatured interest, dividends and rents receivable
Rents and; insurance paid In advance
$2,854 33
4.698,263 86
38,755 33
150 281 ?4i
666,664 OS
520,785 98
296,362 64
158,979 30
3,467 07
7,747,220 67
647,483 96
■
...
Special deposits
Other deferred debit Items
'
$14,981.118 88
Decrease in Mobilities—
Loans and bite* payable
Traffic and car-service balances due to other companies
$1,590,000 00
45,790 84
.
$1,635,790 84
16,566,809 72
6.537,054 51
20,845,046 00
Total to be accounted for.
1624.696,114 00
APPLIED AS FOLLOWS.
Investment since June 30 1907 (increase)—additions and betterments, additional
equip¬
ment, Ac.
Less, Increase In reserve for accrued depreciation
$19,152,201 80
114.801 50
$49,037,300 30
Advances to proprietary, affiliated and controlled companies for
construction, equipment
and betterments (increase*^Net debit to profit and loss account
Balance, cash
on
642.906 35!
474,444 96
i
hand, June 30 1910.
20.154,653 50
$4,541,460 59
FUNDED DEBT—CHANGES DURING YEAR ENDED JUNE 30 1010.
Funded debt. Including equipment notes, June 30 1909
Funded debt
Equipment notes
6195.625.000 00
5,900,000 00
Total
6361 525,000 00
This has been dhaMfcd during the year as follows:
Funded debt increased:
By the Issue of The Chicago Rock Island it Pacific Railway Company’s first end
refunding mortgage gold bonds, viz.:
For addugous, betterments and equipment, 1910 fund.
For
..equal amount of general mortgage gold bonds. Issued Jan 1 1910, for
additions and betterments, said general mortgage gold bonds having been
deposited with trustees of first ahd refunding gold bond mortgage
For redemption of matured obligations:
The Chicago Rock Island & Pacific Railway
Company’s gold bonds of 1902,
series H, matured May 1 1910.
Cbofit&w Oklahoma & Gulf Railroad Company’s equipment trust
notes,
series C, matured April 1 1910
$2,500,000 00
1,000,000 00
1,494,000 00
For acquisition of securities
Tucumcari & At- mphls Railway Company’s first mortgage
gold six per cent
bonds, par $1,000,000 00--..
220,000 00
By the issue of Rook Island Arkansas & Louisiana Railroad Company’s first mort¬
is gage gold four and one-half per cent bonds
$6,196,000 00
___
982,000 00
11,006,000 00
$17,196,000 00
Less:
By the redemption of matured obligations as follows:
The Chicago Rock Island & Pacific Railway
Company’s gold bonds of 1902,
matured May 1 1910
Little Rock Bridge Company’s bonds, matured June 1 1910
$1,494,000 00
20,000 00
Equipment nates increased:
ici..
By the Issue of The Chicago Rock Island & Pacific Railway Company’s:
Four and one-half'per cent equipment gold bonds series C
Four and one-half per cent equipment gold bonds series D
1,514,000 00
$15,682*000 00
-
$5,300,000 00
6,750,000 00
$12,050,000 00
Less:
By the redemption of matured obligations as follows:
The Chicago Rock Island & Pacific Railway
Company’s equipment four and
one-half per cent gold notes, matured as follows:
August 1 1909_._
February 1 1910
The Chicago Rock Island & Pacific
Railway Company’s equipment series B
six per cent notes, matured as follows:
October 15 1909
April 15 1910.
I
.
The-Cbleago Rock Island & Pacific Railway Company’s
series C
fodT and one-half per cent gold bonds, matured Aprilequipment
1 1010.
Ohofctaw Oklahoma & Gulf RR. Co’s equipment trust notes as
above
.
$325,000 00
325,000 00
$650,000 00
$60,000 00
60,000 00
120,000 00
265.000 00
220,000 00
$1,255,000 00
Net Increase in equipment notes
Nefc increase In funded and other fixed
lnterest>bearingj|debt-
10.795,000 00
26,477,000 0O
debt. Including equipment notes. June 30 1910:
nded debt
!
Equipment notes
rii-
Ml,367.060 <00
16.695,000 00
-H-
Total
rv* r n -
rj- t,-r.'T-rT r
6*86.002,000 00
OCX. 29
THE
19ip.)
CHRONICLE
THE ROCK ISLAND LINES.
ROAD AND
EQUIPMENT—INVESTMENT SINCE JUNE 30 1907—CHANGES DURING YEAR ENDED JUNE 30 1010.
Balance June 30 1909, as per balance
sheet
$6,552,257 29
—
YEAR:
CHANGES DURING THE
Additions—
Additions and betterments, current year (not Including
Disbursements for construction and equipment of Rock
equipment)
$3,311,942 84
Island Arkansas & Louisiana Railroad Company’s property
1,002,964 64
Disbursements for old construction liabilities of Choctaw Oklahoma & Gulf Railroad Company.
1,552 41
Disbursements for construction of line Amarillo, Tex., to Texas-New Mexico State line
752.094 03
Disbursements for cop*traction of Tucumcari & Memphis Ry. (property of Chicago Rock Island & El Paso Ry. Co.), Texas*New Mexico State Hue to Tucumcari, N. M
894,45$8 17
Disbursements for additional and improved equipment:
1. Business car.$8,250 00
2. Business cars converted from dining cars
8,661 57
2. Buffet cars converted from parlor cars
1,160 00
1. Locomotive pile-driver—.
11,650 00
10. Locomotive tenders (built at shops)
33,059 44
$52,781 01
2100991
n-_.
New
$67,856 25
appliances for existing equipment, required by Federal and State laws.
Other new appliances for
Central Trust
16,005 03
existing equipment
83,861 28
136,642 29
Company of New York, equipment purchase under indenture of April 1 1909
Bankers Trust
6,061,039 35
Ccppnftqy. equipment purchase under indenture of May 2 1910
8,026,003 46
$20,186,697 16
Deductions—
Rock Island Improvement Company’s equipment purchase under indenture of Feb. 1 1907—lighting appli¬
ances transferred and rebates, less inspection and freight charges
Reserve for replacement 0f destroyed equipment which, under mortgages and equipment trust agreements,
must be reptaead
Value of equipment destroyed, dismantled or sold during the past fiscal year (exclusive of equipment which,
under mpjrtgftgps 4?r equipment trust agreements, must be replaced).
Such value, less salvage, was
$166,060 11
166.403 43
charged to operating expenses and profit and loss
Adjustment of charges tfsr construction of track from T. & P. crossing, Dallas, Tex., to connection with
M. & T. C. HR., Dallas, Texas
i:
Adjustment of chitfgBS fpr construction of track, Irving, Tex., to Carrollton, Tex...
748,219 57
693 92
...
12,918 35
1,034,495 38
Net increase
19,152,201 $0
Balance. June 80 1910, as per balance sheet
.$25,704,459 09
TOTAL OPERATING REVENUE, OPERATING EXPENSES. NET OPERATING REVENUE AND AMOUNT
ROAD OPERATED FOR THE TEN YEARS ENDED JUNE 30 1910.
Ratio oj
Average
Total
Mileage.
Operating
Operated.
Revenue.
$26,075,574 31
28.663,824 60
44,376,619 91
1964
3,772.37
3,935.93
6,978.43
7,205.14
1905
7,231.91
44.969,491 42
44,051,509 14
imti
51,237,858 05
60,138,673 28
Year.
1901
1902
1903
1906
1907
1908
7,969.53
1909
8,026.38
1910
8,043.59
Net
Operating
Expenses.
58,484,196 88
61,184,886 95
66,220,578 94
Revenue.
$16,678,146 03
$9,397,428
11,297,533
16,317,455
13*104,598
12,993,299
16,170,799
19,325,850
16,348,016
17.386,290 97
28,059,164 65
31,774,893 29
31,058,209 26
35,067,058 53
40,812,822 44
42,136,179 97
42,513.495 41
48,069,368 91
Per Mile oj
Op¬
erating Ex¬
penses to
Operating
lievenue^
63.96
60.61
63.23
70.66
70.50
68.44
$6,912 25
7,287 69
6,359 11
52
84
91
18,671,391 54
18,151.210 03
PER
Net
72.05
69.48
72.59
Operating
Expenses.
$4,421
4,417
4,020
4.410
4,294
67.86
7,0»8»5
7,729 *65
5*245
7,338 48
5.287
7,622 97
8,232 71
5,296
5,976
4.858
13
33
84
03
61
23
69
16
72
11
RfWMUe*
$2,491 12
r
1:51811
8'
4
2,240 32
2,483 96
2,061 32
2,326 25
$
>
1
2,2-66 60
1910.
t
Operating Ex¬
3
penses and All
Other Deduc¬
Average
Year.
'
*
i
-i
:::::::::::::::
1905
1906
Mileage
Operated.
3,772.37
3,935.93
6,978.43
7,205.14
7,231.91
7,218.07
7,780.26
7,969.53
8,026.38
8,043.59
1907
1908
1909
Gross
Income.
$26,756,716
30,579,945
46,048,107
46,303,325
45.577,681
52,253,695
60,752,282
1
58:612,830
61,396,357
60,443,810
tions from In¬
come Other
Than Interest.
06
66
11
07
Q3
31
06
33
84
76
$18,518,217
19,284,453
30,419,009
34,263,605
33,748,476
37,719,693
43,722,404
45,481,506
46,368,904
52,566,055
12
44
Interest on
Funded Debt,
Total
Net
Income.
$8,238,498
11,295,492
15.629,097
12,039,720
21
07
01
55
11,829,205 02
14.534,001 76
97
00
05
07
17.029,817
13,131,324
15,027,453
13,877,755
FREIGHT
0}
Declared.
Income.
6,Q11,521'88
7,096,095 85
7.748,169 72
8,279,300 02
^$3.306,803
$1,999,715 00
6,785,832.04
4,677,552 50,
6,166,230 74
4,747,881 08
w
3,772.37
3,935.93
6,978.43
7,205.14
7,231.91
1904
1905
1906
7.218.07
1907
7,780.26
7,969.53
1908
1909
8.026.38
8,043.59
7,877,173
8,861,238
13,300,898
13,567,817
13,515,367
15,394,395
17,412,333
15,877,646
17,145,657
19,167,179
94
5,741,808
2,|^.7|||0
41676162a
8,750.517 07
4,748*102 41 (
8,413,221 92
8,861,223 05
9,129,874 6l
Balance
6,028,198 32’
4,733,109 17
18
01
43,138 32
36,4« 17
2,108,279 54
4,*M,t<5
4
*
4,115.7*8001
4,833,780 07
3,920,783 ,Q0
$,930,018 75^
3,743,272 00'
,2,236,211 99
788,317 41
1,004,009 08
■
;
-
r
YEARS ENDED JUNE $0 1,91,0.
TRAFFIC.
Average per Ton
Dis¬
Number.
.
Less
8,114,630 68
9.572,911 51v
Tons Carried.
Mileage
Operated.
.
Dividends
$5,306,518 94
$2,931,980 00
3,180,861 54
6,056,186 39
Average
Year.
\
to
to Dividends.
SUMMARY OF REVENUE FREIGHT AND PASSENGER TRAFFIC FOR TEN
REVENUE
J
Applicable
z.
1S8I
1903
Mileage.
Revenue.
tance.
1,827,473,847
1,845,056,970
2,987,577,497
3,250,750,267
3,171,456,832
3,715,621,556
4,281,228,365
4,019,704,681
4,160,828,170
4,567,089,384
$18,269,471 57
232.00
220.67
22 .61
239.59
234.66
241 ;s6
245.87
253.17
19,079,053 20
30.917,281 10
31*167,006 12
29,662,386 08
34,695,-823 88
40,215,901 41
37.899,356 36
39,158,053 16
42,218,880 84
;
242.68
238.28
Average IfOaddn Tens,
Rate per
’Per train
Mile. Cents
Mile,
1.00
1.03
Per loaded
.
j
Car Mile.
12.12
18504.:
11,93
13,45
14*53
14.06
\m:
1.04
0.96
0.94
IpMP
0.93
0.94
0.94
0.94
0.92
24
14.54
26617
1527
254.77
264.55
15.33
15.15
257.4$
15.07
REVENUE PASSENGER TRAFFIC.
Passengers Carried.
Average per Passenger. Average.No, q/ Passengers.
Average
Mileage
Operated.
Year.
Number.
Mileage.
7,633,726
305,826,819
1905
7,231.91
8,315,325
10,595,130
11,536,347
12.065,685
13,721,273
15,382,399
16,960,747
18,743,022
20*137,409
382,175,630
1904
3,935.93
6,978.43
7,205.14
l
7,218.07
7.780.26
1009
i_
1910
L
1
___
7,969.53
8,026.38
8,043.59
Dis¬
tance.
Revenue.
Rate per
Mile.Gem#
•PerTradn 1
;
Mile. :
aperCar
Mile.
TTf 1 —T!” 1 V *?
3,772,37
1902
1903
1906
1907
1008
09
33
79
69
.
Surplus
Equipment
Notes and
Other Notes.
94
22
90
00
OF
Road.
ppemtng
Revenue.
CONDENSED INCOME ACCOUNT FOR THE TEN YEARS ENDED JUNE 30
"
MILE
Total
Operating
28
63
26
13
88
EACH
OF
512,094,475
514,108,832
552,903,807
646,166.553
725,233.506
881,991,344
952,679,666
,
1,016.385,259
$6,551,509 77
8,320.922 21
11,490,543 53
11,697,033 16
12,050;781 44
13,917,030 64
16,153.539 42
16,693,110 45
17,883,378 99
19,378,174 27
<
40.06
45.96
48.33
44.56
45.82
47.09
47.15
52.00
50.83
50.47
2.14
2.18
2.24.
2.28
2.18
2.15
2.23
1.89
1.88
1.91
]
40.72
>
=46.75
i
8*41
i
8.42
39.58
39.74
40.52
.
10.40
1053
43.77 ^
42.77 *
52.10
MM A
54.31 ,
1
*
;
»
•
0*71
11.53
iliae
•P
1
puted without 4$9ludlqg mjxpd train miles,
,
j
,i »-r.
a Froth July 1 1900 to June 30 1903 these figures are
average number of passengers per car mile In all passenger train cars, the figures for average
number of passengers per car mile In cars carrying passengers not
being available.
k
•
1186
THE CHRONICLE
THE COLORADO & SOUTHERN
ELEVENTH ANNUAL REPORT—FOR
[VOL.
RAILWAY COMPANY.
THE FISCAL YEAR ENDED JUNE 30 1910.
Denver, Colo., July 1st 1910.
Mr. D. Miller, President, Chicago, III.
Dear Sir—I herewith submit the report for the fiscal year
ended June 30 1910, which report combines the operations
and affairs of the lines operated by the companies named,
and which are herein designated as the “Colorado & Southern
Lines”:
Mileage
Mileage
Mileage
Mileage
3,756 694
169,460
266,644
286,869
$18,777,080 73.
Total
815,080,412 17
32,188,644 78
2,521,272 66
Maintenance of Way and Structures
Maintenance of Equipment
Traffic Expenses
Transportation Expenses
General Expenses
-_
$10,863,454 98.
Total
85,914.525 78
Net Operating Revenue
Net
Dr.
Dr.
Dr.
54,083 08
2,477 20...
15,763 34.
Dr. 522,323
84
76
changes
02
54.854,724 56
Stock Yards
Dr.
___Dr.
Dining Cars
Dr.
Total
Dr.
Taxes
55,414,332 52.
32,162,560 10
2,447,906 42
277,663 79
4,811,851 02
525,706 28
310,225,687 61
Deficit from Outside Operations.
Hotels
59
477,869 64
Accrued
52,406 39
2180
4,708 71
57,134 90
393,906 76
54,453,682 90
Operating Income
Renta
Balance, Income from Securities
owned. Other Income and Interest
237,367 78
Gross Corporate Income.
55,651,700 27
466,701 78
—
54,920,384 68
Deductions from Gross Corporate Income.
Intcreet (on Bonds, Deferred Rentals and
52,665,008 79
35,058 19
Equipment Leases)
Sinking Funds
52,683,682 13
37,843 38
52,700,066 98
Total Deductions
52,721,525 51
Net Corporate Income
52,198,850 17
52,051,633 29_.
Dividends.
5340,000 00...
4% First Preferred Stock 4%
5340,000 00
340,000 00
620,000 00
340.000 00
4% Second Preferred Stock 4%
620,000 00..^......2% Common Stock 2%
51,300,000 09
51.300,000 00
51.651.633 29.
Surplus....
Capital Stock of The Trinity & Brazos Valley Railway Com¬
of those properties for
The results of the operations
pany.
-the years ended June 30th are:
1010.
1909.
3132,203 19 (Deficit) The Colo. Midland Ry. Co. (Deficit)
The Trinity A Brazos Valley Ry. Co.
033,436 01 (Deficit)
(Deficit)
51,065,720 20 (Deficit)
Total
547,086 74
902,023 85
(Deficit) 5949,110 59
Deducting one-half of this deficit from the surplus of the
Colorado & Southern Lines, the result is:
2,061.93
62.50 miles
.95
“
$3.45 miles
1.11
Railway
06
Increase
1.17 miles
*2.28 miles
BOND ISSUES.
During the
year, Refunding and Extension Mortgage
of The Colorado & Southern
Railway Company were
to cover
bonds
issued
expenditures for:
Redemption of First Mortgage Bonds of The Colorado Springs
A Cripple Creek District
Railway Company
(68,000 09
Redemption of Second Mortgage Bonds of The Colorado
Springs A Cripple Creek District Railway Company.194,000 00
Securities of Stamford A Northwestern
Railway Company.- 1,645,738 24
Securities of Fort Worth A Denver City
Railway Company._
8,059 41
(1.915,797 65
From
proceeds of the sale of securities pledged with the
trustee, Refunding and Extension Mortgage bonds of the
face value of $83,000 were redeemed and canceled.
On June 20 1910 the sale of $3,000,000 face amount of
Refunding and Extension Mortgage bonds from the Com¬
pany’s treasury was authorized. These bonds were delivered
and paid for, $1,000,000 in June and
$2,000,000 in July 1910;
the proceeds reimbursed the
treasury for expenditures there¬
tofore made for improvements and new lines.
THE TRINITY
A
BRAZOS VALLEY RAILWAY.
During the year the deficit from operations was made up
equally by The Chicago Rock Island & Pacific Railway Com¬
pany and The Colorado & Southern Railway Company.
Advances were also made to take care of needed
improve¬
ments and installments on leased
equipment. Construction
of the new passenger
and will be completed
3898.859 17
The Colorado & Southern Railway Company owns a benefi¬
cial interest in one-half of the total Capital Stock of The Colo¬
rado Midland Railway Company and also owns one-half of the
,
388.59
Less:
Colorado A Southern Railway
changes
Colorado Springs A Cripple Creek District
Operating Expenses.
274,271 16
..1,673.34
Total.
1,102.39
185.30
83.29
711.04
Added to “Colorado A Southern Lines” March 16 1919:
Stamford A Northwestern Railway
Denver A Interurban Extension
2}
54
-
5,378,794 21
500,472 10
Narrow
Gavae.
$88.89
1909.
Operating Revenues.
Freight
Passenger
..Mall.
Express
Other Operating Revenues
2.018.092 08
170,391 82l
324,657 68
324,000 88.
In Wyoming
in New Mexico
In Texas
Standard
Gavae.
713.71
165.30
83.29
711.04
This is an increase of 82.28 miles over the operated
mileage
of June 30 1909, accounted for as follows:
COLORADO A SOUTHERN LINES FOR YEARS
ENDING JUNE 30TH.
$12,040,8211 39
in Colorado
Total
REVENUES AND EXPENSES OF ALL ROADS COMPRISING THE
1919.
LXXXXI.
THE DENVER
terminals at Houston has progressed
within a few months
A
INTERURBAN RAILROAD.
There was nothing done on The Denver & Interurban
Railroad over and beyond the building of .95 miles of track
in the City of Fort Collins to comply with the franchise
given
by that city.
THE
Mention
STAMFORD
A
NORTHWESTERN RAILWAY.
made last year
of the construction of the
Railway, which was begun in
January 1909. On September 15th 1909 operations from
Stamford to Jayton were begun, and on October 25th 1909
the road was completed from Jayton to
Spur, making a
total mileage operated, Stamford to Spur, of 82.5 miles.
•
Stamford
was
& Northwestern
IMPROVEMENT WORK.
Reference
made last year to
the program adopted of
substituting permanent bridges for wooden ones, and that
The percentage of Operating Revenues required for same program has been carried out
during the year. The
Operating Expenses was 64.75%, as compared with 67.81% excess cost of such new structures over the cost of replacing
in the previous year, and the proportion of Income required in kind the existing ones has been
charged to “Additions and
for interest wai 50.55% as compared with 54.54% in the Betterments,” and amounted to
$86,518 82 on the Colorado
& Southern Railway and $85,735 35 on the Fort Worth &
previous year.
Denver City Railway.
MILEAGE JUNE 30 1910.
On the Fort Worth & Denver City Railway the work of
Standard
Narrow
Colorado A Southern Railway—
Gauge.
Total.
Gauge.
ballasting
was continued during the year.
There were
North and West of Denver:
expended
$228,589
Fort Collins District
60, representing 60.05 miles of rock
140.31
140.31
Clear Creek District
15.40
ballast and 1.31 miles of gravel ballast, or 61.36 miles. This
50.70
66.10
Platte Can von District
6.23
96.13
102.36
was
$1,118,768 60 (Surplus) Colorado A Southern System (Surplus) 5424,303 88
—
Leadvllle District
Gunnison District
Wyoming District
153.68
Total
South of Denver:
Pueblo District
Trinidad District
New Mexico District
315.62
t
384.83
700.45
134.05
55.33
150.13
55.33
150.13
Walsenburg A Western Railway, operated
by The Colorado & Southern Railway
Company—
Lines Operated Under Trackage Rights:
Denver A Rio Grande Railroad
Union Pacific Railroad
t
74.36
163.64
153.68
134.05
Total
Colorado Railroad, operated by The Colorado
& Southern Railway Company
|
74.36
163.64
339.51
37.79
339.51
3.76
1.30
1.35
58.65
58.65
106.35
106.35
n
41.55
———
paw-Total----
859.27
Denver A Interurban Railroad
Colorado1 Springs A Cripple Creek
P»HR* Railway
Fort Worth A Denver City Railway
Wichita Valley Lines—
-
£5Wichita Valley Railway
Wichita Falls A Oklahoma Railway
Wichita Valley Railroad
H Stamford A Northwestern Railway
Abilene A Northers Railway
T
t
Total Mileage
388 59
28.79
74.24
454.14
74.24
454.14
52.20
52.20
22.80
60.70
22.80
-
1,247.86
28.79
District
60.70
82 50
38.70
1,873.34
82.50
38.70
388.59
3,061 93
makes up to June 30th 1910 362.67 miles ballasted with rock
and gravel.
On the Colorado & Southern Railway, on the Platte Canon
District, 13.74 miles, and on the Gunnison District 6.36 miles,
laid, replacing 40-pound steel, and
new 85-pound steel
laid, replacing
65-pound steel, on the Fort Collins District; namely, between
miles-post 44 and mile-post 51 and between mile-post 60
and mile-post 74.
On the Fort Worth & Denver City Rail¬
way there were 18.58 miles of 85-pound steel laid between
mile-post 120.74 and mile-post 139.32. The difference
of 56-pound steel were
there were 21 miles of
between the value of the steel laid and the steel released
was
charged to “Additions and Betterments”, and appears in
statement on page 16
[pamphlet].
By agreement with the City of Denver, by which certain
streets were abandoned, it was arranged that the
railway
companies whose tracks crossed Twentieth Street should
contribute to a viaduct, the proportion to be
paid b£ each
road being based on the amount of
abutting property
owned.
The
?€oloradojr & Southern Railway Company’s
proportion was estimated to be $165,000.
Colorado
Last ye^r The
Southern Railway Company paid $23,447 54
and this year
$50,675 80, The viaduct will probably be
completed during the ensuing year.
' •
.
Oct. 29 1910.
THE CHRONICLE
By agreement also with the City of Denver, a subway at
wras arranged for, The Colorado &
Southern Railway Company’s proportion being $25,000.
In the past fiscal year The Colorado & Southern Railway
Company paid $2,811 24 toward the construction of this
subway. The subway will be completed during the ensuing
West Alameda Avenue
year.
In
1187
LIABILITIES.
Capital Stock—
Preferred, The Colorado St Southern
$8,500,000 00
Railway Co
Second Preferred. The Colorado St Southern
8,500,000 00
Railway Co
Common,
The
Colorado
St
Southern Railway Co
$31,000,000 00
First
-
_
The Colorado Railroad Co.500 00
The Denver St Interurban Rail¬
road Co
700 09
July 1909 arrangements were made with the City of Common, The Colorado Springs
&
Cripple Creek District
Cheyenne whereby a franchise was granted across certain
900 00
Railway Co
streets in order that the Colorado & Southern Railway might
Fort Worth St Denver City
make a connection with the Chicago Burlington & Quincy
Railway Co., including $23,884 "Stamped".
25,484 00
Railroad at Capitol Avenue.
Property was bought along The
Wichita Valley Ry. Co.
900 00
the alley between Fifteenth and Sixteenth Streets from Wichita Falls St Oklahoma
Railway Co
900 00
Capitol Avenue to a connection with The Colorado & South¬ Wichita
Valley Railroad Co.
900 00
ern Railway Company’s track, the cost of which amounted
Stamford
St
Northwestern
900 00
to $196,421 33, and a track is now being laid on the property
Railway Co
Abilene St Northern Ry. Co
900 00
so purchased, and in August of this year connection was
Fort Worth St Denver Terminal
made with the Chicago Burlington <fc Quincy Railroad.
Railway Co
900 09
In
31,932,984 99
Greeley The Colorado & Southern Railway Company pur¬
f49,932.984109
Funded Debt—
chased property to the amount of $100,120 60 for the pur¬
First Mortgage 4% Bonds, The Colorado Sc
pose of making connection with the Chicago Burlington &
Southern Railway Co
$19,492,909 09
Quincy Railroad and also for extending yard room and Refunding and Extension Mortgage
Bonds. The Colorado St Southern Ry. Co.. 28.228,549 39
facilities at that point.
First Mortgage 5% Bonds, The Colorado
Because of the congestion of business between Pueblo and
Springs St Cripple Creek District Ry. Co..
1.971,000 09
Consolidated Mtge. 5% Bonds, The Colo¬
Walsenburg, between which points the Colorado <fe Southern First
rado Springs St Cripple Creek District Ry.Co. 1,379,000 09
Railway has joint facilities with the Denver & Rio Grande First Mtge. 6% Bonds,
Fort Worth & Denver
City Railway Co
8,179.000 99
Railroad, The Colorado & Southern Railway Company, First
Mtge. 8% Bonds, Fort Worth St Denver
through The Colorado Railroad Company, entered into an
Terminal Railway Co
728,000 09
agreement with The Denver & Rio Grande Railroad Company
99,994,549 99
Equipment Bonds, Series "A”, The Colorado
on May 14th, whereby each
company should build a line for
St Southern Railway Co
$729,900 09
itself and enter into joint use of the two tracks as a double Equipment Lease, Series “Pullman," The
-
__
.
.
_
—
line of railroad between Southern Junction and Walsenburg
Junction.
Contracts were let for the building of the lines
and work is progressing as rapidly as possible. This double
track will not be completed before September 1911, but it is
hoped that portions of such track may be
may be used at a much earlier date.
so
built that they
Colorado St Southern Railway Co., Deferred
Rentals
—Equipment Lease, Series "A," Fort Worth St
Denver City Ry. Co., Deferred Rentals
131,122 59
......
312,000 09
Equipment Learn, Series “B,” Fart Worth &
Denver City Ry. Co., Deferred Rentals.—
Equipment Lease, Series “Pullman," Fort
Worth ■& Denver City Ry. Co., Deferred
Rentals
289,000 09
505,008 49
—
Equipment Lease, Series “1908," Fort Worth
St Denver City Ry. Co.. Deterred Rentals.
NEW EQUIPMENT.
78,000 09
.
The increased amount of business
Southern Lines called for the following
on
The Colorado
&
order of equipment:
The Colorado St Southern Railway:
5 S. G. Switching Locomotives for delivery October 1910.
5 S. G. Mikado Type Freight Locomotives for delivery December 1910.
US. G. Pacific Type Passenger Locomotives for delivery December 1910
1 Dining Car for delivery September 1910.
500 Dump Gondola Cars (all steel) for delivery October 1910.
500 Box Cars for delivery June 1910.
250 Dumping Stock Cars for delivery September 1910.
Fort Worth & Denver City Railway:
2 S. G. Switching Locomotives for delivery October 1910.
5 Pacific Type Passenger Locomotives for delivery December 1910.
4 Baggage Cars for delivery November 1910.
200 Stock Cars for delivery June 1910.
Deliveries of the above equipment commenced in June 1910
and have continued since that date.
In addition there are being built at the shops of the
Colorado & Southern Railway in Denver:
125
50
15
50
N.
N.
S.
N.
G. Box Cars.
G. Stock Cars.
G. Caboose Cars.
The construction of these
time.
cars
is
nearly completed at this
equipment is to be paid for in cash out of funds
Refunding and Extension Mortgage
derived from the sale of
bonds.
Respectfully submitted,
A. D.
PARKER,
Vice-President.
BALANCE
SHEET
JUNE
39
1910.
Cost of Road St Equipment, Including
Improvements
New Equipment.*
Discount
on
Securities $85,050,380 05
_
Refunding and Extension Mortgage Bonds of the Colorado
Southern Railway Co. tn Treasury, par value
First Mortgage Bonds of Fort Worth St Denver Terminal Ry.
Co. in Treasury, par value
Current Assets—
C»»h.
$1,009,798 05
Due from Individuals and Companies
477,304 71
Due from Agents and Conductors
251,091 00
Due from United States Government
03,444 72
unadjusted Paid Claims
53,471 72
.
.
_
Construction and Improvement Advances to
Subsidiary Lines—
Account Walsenburg St Western Ry
Fidelity Construction Co
Trinity St Braso* Valley Ry
Dallas Terminals
Houston Terminals
Galveston Terminals
“
Electrification
'*
Advance
"
*
Surveys
Right of Way and Terminal Property
for New Lines
29
Equipment Lease “Pullman" Interest Notes
applicable to
1,385,763 46
9,271,398 57
.
$122,791,897 31
Par Value.
ON
Total.
Ry. Co. Preferred Stock
(beneficial Interest In one-half of $4,954,800,
par value)
$2,477,400 09
The Colorado Midland Ry. Co. Common Stock
(beneficial interest In one-half of $3,420,200 00, par value)
1,710,100 00
The Trinity St Brazos Valley Ry. Co. Capital
Stock
The Gilpin RR. Co. Capital Stock.
The Union Depot St Ry. Co., Denver, Capital
Stock
The Pueblo Union Depot Sc RR. Co. Capital
Stock and Sinking Fund..
Miscellaneous Stocks
Mortgage Bonds
303.100 00
199,950 09
90.000 09
24,120 00
290,130 00
•
$5,084,800 00
Valley Ry. Co. First
Bonds.
$8,760,000 00
97,000 00
8,857,000 00
Miscellaneous—
Trinity St Brazos Valley Ry. Co. Oertfs. of Indebtedness
Total.
1.994.641 41
..--$15,936,441 41
Operating Revenues— *
Freight
.....$12,040,828 39
Passenger..:
3,916,092 98
Other Oper. Revenues..
819,059 39
Operating Expenses—
Maintenance of Way and
Structures
$2,168,644,76
Maintenance of Equip..
2,821,272 66
.
-
! 274.271 16
...
Transportation
5,378,794 21
500,472 19
General
ENDED
922,515 85
re¬
1 ,$75 42
91
or
Decrease (—).
4.91
70.29
24,91
4 89
+ $1,440,085 38
+ 161,398 44
+96,084 74
100.00
100.00
+$1,697,568 56
13.04
15:93
1.84
32.96
14.34
16.23
29.81
2.01
1.84
81,91
8.49
+$26,084
+73.366
—3,392
+566,943
—25,234
66
24
63
19
09
97.81
+$637,767 37
$6,914,52S~75
35.15
92.19
+$1,059,801 19
Oper. Revenue
Outside Operations, Net—
Hotels
..Dr.
Stock Yards
Dr.
Dining Cars
Net
Deficit,
Dr.
$4,083 05
2.477 29
15,763 84
+$1,676 68
+2,465 40
+11,056 63
'
Outside
Total Net Revenue
Taxes Accrued—
$Il2.'791.$97
Increase (+)
Tout
Year.
64.7$
Operations
12,718,288 28
This
Year.
71.79
Total Oper. Expenses $10,863,454 98
Net
290,541 98
/
12
27
22
85
STATEMENT OF MISCELLANEOUS SECURITIES CARRIED
BALANCE SHEET AS "SECURITIES OF OTHER COM¬
PANIES,” AT COST VALUE OF $12,370,417 73.
Traffic
04
38
03
00
00
44.554 29
12,595 04
-
$309,105
598,575
387,301
90,781
Profit and Loss, Balance
Total Oper. Revenues $18,777,960 7$
*—
'•
2.475,071 02
Per Cent of
Operating Revenues.
Companies.
.912,870,417 78
Refunding and Extension Mortgage Bonds
held to be appropriated for Improvements
*ad Betterments, par value.........:.
$47,889 58
......
174.208 09
.
.
$21,300 59
demption of Bonds or purchase of property.
jOther Assets—
Securities of Other
69
77
75
09
75
REVENUES AND EXPENSES FOR THE FISCAL YEAR
JUNE 30 1910, COMPARED WITH JUNE 39 1909.
402,071 02
Special Funds—
Gash tn Hands of Trustees,
428,000 00
$283,308 53
27,920 04
90,781 85
8,239
98.553
0,884
225,108
193,207
15.525
Alvord RR
“
Railway Co
Deferred Liabilities—
Accrued Taxes
Accrued Interest not yet due
Accrued for Renewal of Equipment
The
4,970,319 92
Ihtemst Notes. Equipment Lease “Pullman".
"
western
2,008,780 83
1,500,548 52
^
**
...
Equipment Replacement Reserve
5,051,333 90
9,132,034 00
$2,515,771 40
„
and Supplies
Deferred Assets—
Accrued Income from Investments
Insurance Paid In Advance
"
632,054
143,774
88,187
6,232
304,823
Interest Guaranty Fund Stamford St North¬
Other
St
_
.
$1,125,789 97
Unclaimed Dividends
Bonds—
The Trinity So Brazos
ASSETS.
1*
.
Materials
Vouchers..
Pay Rolls.
Foreign Roads—Traffic Balances
Interest on Bonds Due and Unpaid
Stocks
The Colorado Midland
G. Coal Cars.
All of this
2.932,180 90
Current Liabilities—
Operating locome
$22,323 $9
.13
.05
+915,186 69
$5,8 2,202 18
85.12
477*869 64
2,85
32.14
2.61
+91,044.612 50
+62,962 88
$5,414,332 52
'$2.27
19.98
+$960,649 62
—,
..
Average MUes Operated MMMfc 8,942
191 fitaisliKfcOtWJI
+j$2.47
1188
STATEMENT
THE CHRONICLE
OF
INCOME
ACCOUNT FOR THE
ENDED JUNE 30 1910.
Operating Income
FISCAL
3£he Oybmmrrcial £imrs.
Interest, Discount and
Exchange
$44,849 50
COMMERCIAL EPITOME.
Friday Night, October 28 1910.
Evidences seem to multiply of a
hopeful feeling in Ameri¬
can trade and a
Income Irom Investm’ts 541,194 42
Less—
Hire of Equipment
$289,350 20
Rentals
59,325 97
Sinking Fund Provisions
under First Mortgage
C. S.&C. C.D.Ry.Co.
35,058 19
$586,043 92
described
383,734 36
202,309 56
Available for Interest and
Dividends
$5,616,642 08
Less—Interest Accrued on:
First Mtge. 4% Bonds, C. & S. Ry. Co
$775,848 00
Refunding and Extension Mtge. 44% Bonds,
C. & S. Ry. Co
1,110,847 00
First Mtge. 5% Bonds, C. S. & C. C. D. Ry. Co_
84,199 17
First Consolidated Mtge. 5% Bonds, C. S. &
C.C. D.Ry. Co
68,950 00
First Mtge. 6% Bonds, F. W. & D. C. Ry. Co__
490,560 00
First Mtge. 6% Bonds, F. W. & D. T. Ry. Co._
18,000 00
Equipment Bonds
38,550 00
Deferred Rentals under Equipment Leases
74,079 57
Other Obligations
3,009 37
-
Payment by F. W. & D. C. Dy. Co. under
“Stamped Stock” agreement of Oct. 12 1895.
965 68
2,665,008 79
Net Corporate Income for Fiscal Year Ended June 30 1910.. $2,951,633 29
Dividends Paid on:
First Preferred Stock, C. & S. Ry. Co.:
Dividend No. 16, paid Oct. 1 1909
$170,000 00
Dividend No. 17, paid Apr. 1 1910
170,000 00
Second Preferred Stock, C. & S. Ry. Co.:
Dividend No.
6, paid Oct. 1 1909
170,000 00
Dividend No.
7, paid Apr. 1 1910
170,000 00
Common Stock, C. & S. Ry. Co.:
Dividend No. 2, paid Dec. 18 1909
620,000 00
1,300,000 00
Surplus for the Fiscal Year Ended June 30 1910, Carried to
Profit and Loss
$1,651,633 29
—
STATEMENT OF PROFIT AND LOSS ACCOUNT.
Balance to Credit of Profit & Loss June 30 1909_$7,567,849 19
Account
Sinking
Fund
Provisions, C. S. & C.
C. D. Ry. Co. 1st Mtge.$35,058 19
Sundry Credits
29,732 88
$64,791 07
Less:
Uncollectible Accounts.j,_ $4,740 75
Abandoned
6,117 9$
Property
Premiums Paid
on
Bonds
Redeemed, C. S. & C. C.
D. Ry. Co. 1st Mtge...
2,016 25 12.874 98
51,916 09 7,619,765 28
Balance to Credit of Profit and Loss June 30 1910
—$9,271,398 57
Whitney Company,* North Carolina.—Sale Ordered.—
Judge Pritchard in the U. S. Circuit Court, Asheville, N. C.,
on Oct. 20 confirmed the
report made by Special Master
A. P. Price and ordered the foreclosure sale of the
property
The sale was ordered at the suit of the Bankers Trust
Co., as trustee,
under the first mortgage, and A. O. Brown & Co. of New York,
bondholders,
and T. A. Gillespie & Co. of New Jersey, on mechanics’ liens.
The first
mortgage bonds with interest, It is said, since and including May 1 1908,
$5,406,750, and the Gillespie claim to $344,976, while the fees
and expenses will amount to $125,000.
George I. Whitney was quoted In
January 1909 as stating that the company’s enterprises were about 80%
completed.
In May 1909 the General Electric Co. advertised for sale at
auction $178,000 1st M. bonds pledged to secure a defaulted
6% note of
$129,246, on which $29,246 had been paid; also equipment for which the
same was given.
The now bankrupt firm of A. O. Brown claimed in 1908
to have advanoed $1,000,000 to the company on account of which
they held
$1,800,000 of the bonds.
An accountant employed by receiver John S. Henderson
reported In
March 1908: (1) Expenditures to Jan. 1 1908 as follows: Purchase and Im¬
provements, $1,563,457; Whitney RR„ $149,114; power plant construction
to T. A. Gillespie & Co., $2,857,805; General Electric
Co., $25,000; engi¬
neering, $21,141; plotting townsite, $4,706; general maintenance and ex¬
pense, $413,862; total expenditures, $5,035,086.
(2)
Liabilities—Capital
stock, $9,875,000; bonds, $4,841,000; bills payable, $225,516; accrued bond
interest. $50,000; accounts payable, $37,034; total, $15,028,550.—V. 87,
p. 1668.
amount to
Wood Worsted Mills Corporation.—Sale.—See American
Woolen Co. above.—V. 91, p. 522.
to
—In view of the approach of tax
date, attention is called
A. M
Kidder & Co/s advertisement of 1,000 shares
Kansas City Fort Scott & Memphis Ry. Co.
4% preferred
stock, which is exempt from all tax. This stock has the
feature of a bond also in that it is due and
payable in October
1921 at par.
If held until then it is pointed .out that the
investor will not only receive 5% interest return on the in¬
vestment, but also the difference between present market
and par, about 20%.
—Arthur C. Raymond, for the past twelve years a member
of the firm of George A. Fernald &
Co., has become associated
w,ith Hayden, Stone & Co. of Boston in charge of its bond
department. Mr. Raymond will be associated with Eugene
H. Mather, public service
corporation expert, who has long
been engaged in the construction and
management of public
service
undertakings.
—H. T. Ashmore,
come associated with
Broad St., New York
LXXXXI.
YEAR
35,414,332 52
Add-
fVOL.
formerly of Ashmore & Lutz, has be¬
Gude, Winmill & Co., bankers, of 20
City, and Captain A. D. Porter of this
city has also become associated with this firm.
—Boettcher, Porter & Co., Denver, own and offer 6%
cumulative preferred stock and common stock of the Cities
Service Co., the holding
company, which was described at
considerable length in our issue of
Sept. 10, p. 656.
—Porter, Fishoack & Co., Chicago, invite the attention of
investors to irrigation bonds which they have
to offer, and
which they recommend as conservative and
remunera¬
highly
tive
gradual increase of
as
actual business.
conservative
What is
optimism prevails in the iron and
steel trade.
Also, it is‘obvious that there is less apprehen¬
sion in regard to
politics and the country as a whole is belived to be on the up-grade
despite the fact that the cost of
living is still high.
LARD on the spot has been
weaker, owing to a decline in
the market
for futures and dulness of trade.
Prime Western
and city steam 12^c. Re¬
fined lard has been dull and easier.
Continent 12.90c.,
South America 13.60c. and Brazil in
14.60c. The specu¬
kegs
lation in lard futures in the local market
has been
13.10c., Middle Western 12.50c.
dull.
At
extremely
Chicago the trading has been active, with the trend
owing to weakness at times in the mar¬
of prices downward,
ket for live hogs,
live-hog
expectations of
movement in the
near
a material increase in the
future and dulness on
spot?
DAILY CLOSING PRICES OF LARD
FUTURES IN NEW YORK.
„
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
November delivery
12.00
12.09
11.90
11.90
11.87
12.00
January delivery
10.80
10.75
10.70
10.50
10.50
10.65
May delivery
10.25
10.20
10.20
10.00
10.05
10.20
DAILY CLOSING PRICES OF LARD
FUTURES IN CHICAQO.
„
So*.
Mon.
Tues.
Wed.
Thurs.
Fri.
November delivery
11.674 11.70
11.574 11.55
11.50
11.50
January delivery
10.37H 10.40
10.27 4 10.17 4 10.15
10.17 4
May delivery
9.774 9.80
9.724
9.70
9.674
9.724
w
..
.
.
PORK on the spot has ruled
steady with trade quiet.
Mess $20 50@$21, clear $21
75@$22 75 and family $25.
Beef has been quiet and
steady;
supplies light.
Mess
$15 50@$16, packet $17@$17 50,
family $19 50@$20 and
extra India mess $30 50.
Cut meats have been
quiet;
pickled hams, regular, weaker at 13@133^c.; pickled bellies,
clear, steady at 16@18c.; pickled ribs steady at 15>^@17c.
Tallow has been quiet and firm at 7
%c. Stearines have been
quiet; oleo 1213c. and lard 13J^c. Butter quiet with
best grades in light supply
and firmer; creamery extras 30 ^
@31c. Cheese quiet and steady; State whole milk, large or
small, colored, average fancy, 15c. Eggs quiet and steady;
Western firsts 26@27c.
OIL.—Linseed has been firm with a moderate trade in
Receipts of seed have been light. City, raw,
small lots.
American seed, 97@98c.; boiled
98@99c.; Calcutta, raw,
$1 03.
Cotton has been irregular with the trend downward
much of the time, however.
There has been a
good demand
late, mainly for foreign account. Winter 7.60@9c.;
summer white
7.50©9c. Lard has been quiet and firm;
prime $1 02@$1 05 and No. 1 extra 63@65c. Cocoanut
dull and firm; Cochin llj^c.;
Ceylon 9%@9^c. Olive quiet
and steady at 90@95c. Corn has been easier with trade ac¬
tive; car lots, 20 days shipment, 6.85@6.90c. Cod firm and
in good demand; domestic 42@44c.;
Newfoundland45@47c.
COFFEE on the spot has been quiet and somewhat easier.
Rio No. 7 10M@10%c., Santos No. 4
ll^@ll^c. West
India growths have been quiet and
steady. Fair to good
Cucuta 12%@\2%c. The speculation in future contracts
has been fairly active and prices, after some
irregularity
early in the week,have latterly advanced,following an up¬
ward movement in the European and Brazilian markets.
Closing prices were as follows:
of
October
8.80c. January ..8.95c. April
November _8.85c. February. .8.92c. May
December _8.90c March
9.05c. June
SUGAR.—Raw has declined.
has increased at the lower
9.06c. July
9.13c
9.08c. August
9.15c.
9.10c. September 9.16c.
The demand from refiners
prices. Centrifugal, 96-degrees
test, 3.80c.; muscovado, 89-degrees test, 3.30c.; molasses,
89-degrees test, 3.05c. Refined has been quiet and easy.
Granulated 4.75@4.80c. Teas have been firm and mod¬
erately active. Spicesfirmwith a routine trade. Wool firm
with a somewhat larger demand.
Hops dull and firm/
PETROLEUM.—Refined has been steady, with an in¬
creased demand from domestic and
foreign consumers;
Barrels 7.40c., bulk 3.90c. and cases 8.90c.
Gasoline has
been in good demand and steady; 86 degrees in
100-gallon
drums, 18drums, $8 50 extra. Naphtha been steady
and fairly active; 73@76-degrees in 100-gallon
drums, 16%c.;
drums, $8 50extra. Spirits of turpentine quiet and easier at
79 }^c.
Rosin quiet; steady; common to good strained $6 30.
TOBACCO.—Trade in domestic leaf has been
on a
mod¬
erate scale
during the week. Cigar manufacturers in many
cases report the demand good,
but there is no disposition to
anticipate requirements. Crop reports from Wisconsin have
been unfavorable.
Prices have ruled firm.
Havana has
met with an increased demand, despite rather more favorable
reports from Cuba regarding the extent of the damage ffom
the recent hurricane.
Sumatra has been moderately active
and firm.
The labor situation shows no
COPPER has been quiet, with slight
improvement. ;
changes in prices.
Exports have continued small, while imports have increased.
Lake 12%@13c., electrolytic 12.65@12.70c. and casting
12%@12^c. Lead has been quiet and steady at 4.40@
4,50c. Spelter has been firmer and more active at 5.75@
investments.
5.85c.
Iron has been more active.
Many sales of small lots
—Hincks Bros. & Co.,
have latterly been reported and some large transactions have
Bridgeport,
New
Haven
and
Hart¬
ford, have issued a circular entitled “Southern New England also been announced tor
delivery during the next four months.
Telephone Co. New Stocks and Rights.”
Some
—Attention is called to the list of securities advertised works.large contracts have been placed by radiator and stove
No.. 1 Northern $15 75@$16; No. 2 Southern
on another
page by Plympton, Gardiner & Co
$15 25£$15 75.5.Steel billets2have beenjireak.
Oct. 29 1910. j
THE CHRONICLE
1189
On
COTTON.
Oct. 28 at—
Shipboard, Not Cleared Jor—
Great
Friday Night, October 28 1910.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening, the total receipts have reached
390,831 bales, against 451,952 bales last week and 400,089
bales the previous week, making the total receipts since
Sept. 1 1910 2,519,282 bales, against 2,826,881 bales
for the same period of 1909, showing a decrease since Sept. 1
1910 of 307,599 bales.
Receipts at—
Sat.
Galveston
Port Arthur
Texas City, &c_.
New Orleans
Mobile
20,884
Mon.
Tues.
20,264
41,074
Wed.
Thurs.
25,753
Fri.
28,052
Total.
17,583 153,610
'
____
»
-
5,011
2,835
81
193
334
12,688
13,483
15,572
12,092
11,209
4,765
4,357
285
124
3,005
2,526
8,515
3,218
4,265
7,779
2,137
Pensacola
„
Georgetown
Wilmington
,
3,843
3,713
Norfolk
N’port News, Ac.
5,076
6,600
—
New York
Boston
Baltimore
1,362
6,073
2,387
4,987
1,378
13,281
50,572
14,500
2,039
1,125
9,483
5,495
3,404
1,874
74,527
5,495
17,855
3,096
3,779
3,432
3,162
21,191
30,034
727
727
13,481
1,517
:
.
Jacksonville, &c.
Savannah
Brunswick
Charleston
-
-
11,919
13,241
4,246
-
—
—
—
—
_
-
-
141
—
35
98
—
Philadelphia
—
Totals this week.
55,925
57,819
124
.
97,836
56,793
63,412
11
144
6,897
6,897
59,046 390,831
The following shows the week’s total receipts, the
since Sept. 1 1910, and the stocks to-night,
compared
last year:
1910.
1909.
Stock.
Receipts to
Oct. 28.
This
week.
Since Sep
1 1910.
Since Sep
1 1909.
This
week.
Galveston
153,610 1,109,536 130,518
Port Arthur
22,277
Texas City, Ac.. 13,281
61,365
1,445
New Orleans
50,572
205,120 71,662
Gulfport
3,188
Mobile
14,500
70,369 15,008
Pensacola.
3,707
3,198
1,874
Jacksonville, Ac.
4,905
1,712
Savannah
74.527
552,883 101,035
Brunswick
5,495
52,396 17,390
Charleston
17,855
112,865 15,182
924,200
24,700
li.424
320,116
5,627
89,867
29,420
7,689
767,291
127,414
127,531
•
.
Georgetown
Wilmington
_
„
_
124
284
100
354
21,191
30,034
162,371
141,312
18,594
36.821
N'port News, Ac.
727
New York
Boston
Baltimore
144
1,537
1,295
1,620
15,440
298
233
174
182,493
165,626
1,763
1,314
Norfolk
Philadelphia
1909.
199,947
69,410
147,227
36,945
47,291
146,268
5,371
34,285
231,760
30,044
44,937
45,296
13,013
25,134
34,239
110.120
889,429
5,627
94
351
103,988
1,701
11,494
2,509
390,831 2.519,282 426.071 2,826,881
688.436
732
2,057
3,779
7,267
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Receipts ait—
Galveston
Pt. Arthur, Ac.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, Ac
1910.
1909.
1908.
153.610
13,281
130,518
1,563
71,844
15,008
101,035
17,390
15,282
18,594
36,821
168,898
3,840
92,681
19,198
71,592
14,740
10,724
19,113
27,632
727
298
276
8,915
11,718
11,966
74,700
5,430
65,410
16,986
88,779
12,128
13,810
23,211
25,533
1,388
9,693
390,831
420,071
440,660
337,068
50,572
14,500
74.527
5,495
17,979
21,191
30,034
Wilmington..
Norfolk
N'port N., Ac
All others
Total this wk_
Since Sept. 1
1907.
1906.
1005.
188,151
11,097
96,789
14,794
87,107
7,635
7,412
19,553
27,691
105,488
3,876
65,484
12,018
£7,489
8,215
10,314
28,871‘
32,047
14,542
10,627
474,771
344,600
171
2,519,282 2,826,881 2,595,114 1,901,505 2,633,253 2,572,363
The exports for the week ending this evening reach a total
of 295,286 bales, of which 129,641 were to Great Britain,
66,590 to France and 99,055 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910.
Week
ending Oct. 28 1910.
From
Exported to—
Exports
from—
Qteat
Conti¬
Britain. France. nent.
Galveston
Port Arthur.
Texas City, Ac.
New Orleans..
Mobile
Pensacola
Feraandina
Savannah
Brunswick....
Charleston
__
....
....
11,919
26.47011,793
6,773
-
•
-
-
....
-
•
•
.
•
.
•
...
....
ll.»i»
13,817 52,080
5,773
.
...
•
.
•
»
-
-
....
•
•
....
Norfolk..
Newport News.
....
Philadelphia..
Portland, Me..
San Vrandseo.
Seattle
Tacoma
Portland, Ore.
Pembina
Detroit.......
348,842 120,392
8,411
51,903
85,291 14,280
7,802
2,991
3,807
266,259
14,277
1,978
48,245
5,949
735,493
22,688
53,881
147,816
16,742
3,807
83,271 33,687
18,048
6,000
5,666
65,045
99,344
15,566
39,700
67,069
216,202
33,614
50,700
112,114
21
21
16,600 16,600
17,417 27,617
....
5,937
6,516
1,650 1,700
3,000
.
....
^
....
-
-
5,669 11,626
140
6,666
6,931
3,000
.
.
.
^
.
.
^
^
122,233 38,137
30,281
6,288
2,550
17,802
....
.
—
—
'70.507
2,338
23,056
1,400
230,877
32,619
31,894
19,202
3,990
5,092
1,007
3.990
5,092
1,007
^
....
507
.
.
.
....
2,142
....
-
.
3,681
.
....
-
2,142
607
....
....
•
4,677
30,766
16,500
2,000
625
1,708
167
2,500
3,000
1,666
6,500
12,000
368
_
_
111,726
97,641
96,364
18,000
24,786 73,110
18,986 66,431
26,993 102,603
29,906
28,329
56,898
Leaving
Total.
Stock.
20,140
133,992
36,434
8,000
5,000
9,767
11,750
35,000
49,279
84,164
109,834
26,285
20,555 260,083
428,353
651,929
453,356
2,920
4,000
1,000
2,500
9,767
900
1,750
2,000
—
31,945
3,246
92,238
31,371
26,113:237,500
19,476 302,334
Southwest, heavy buying by leading Southern operators,
aggressive support of the market and widespread covering
of shorts, with possibly some indications of nervousness in
the December option, in which, if the bullish view is correct,
there is a short interest of some magnitude.
Also the spot
demand at the South improved and the spot sales in Liverpool
increased.
Some crop reports from the South insisted that
damage had been done by recent frosts. Spot holders at the
South were said to be refusing to recognize the decline of
Tuesday. According to some published reports there is
practically no top crop in Louisiana. Some of the private
mail advices from Liverpool take the ground that supplies
are likely to be inadequate and that there is little
hope of
an immediate return of prices to the lower level of former
years, on the round that the crop is not likely to be excessive,
that trade is improving
and that foreign supplies have
become depleted.
Spot interests in a few cases were buyers.
On the other hand, however, some experienced people
think that as the crop in Texas was early, a late frost like
that of the present year can do little harm, that the total
crop has been much under-estimated, and that spinners,
having bought freely for a couple of months past, are in a
position, if they chose, to play a waiting policy for a
time.
They also think that the present relatively high
prices discount anything bullish in the situation. They in¬
sist that the recent sharp upturns in prices have been largely
due to the aggressive operations of a small group of specu¬
lators here.
Meantime the world’s spinners’ takings of
American cotton are still running behind those of last year.
Very large spot interests have been heavy sellers all the week.
To-day prices were irregular, closing lower on disappointing
Liverpool cables, foreign and Southern selling, further
pressure from spot interests and room traders and liquida¬
tion.
Spot cotton has been quiet. Middling uplands closed
at 14.75c., an advance for the week of 30 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
*Sat.
Middling uplands
14.45
000478382.733
792,43311.866.644
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
1
.
ittti
Mon.
14.80
Tues.
14.60
Wed.
Thurs.
Frf.
14.45
14.75
14.75
Wm NEW YORK QUOTATIONS FOR 32 YEARS.
1910.c
1909
1908
1907
1906
1905.
1904
1903
14.75
14.75
9.45
10.80
10.75
10.65
9.95
__.10.35
...
1902.C
1901
1900
1899
1898
1897
1896
1895
8.70 1894.C
8.19
9.50
7.38
5.38
6.06
7.94
8.69
1893
1892
1891
1890
1889..-.
1888
1887
5.81 1886.0
8.19 1885.
8.31 1884
8.38 1883
10.06 1882
10.50 1881
9.75 1880
9.69 1879
9.25
9.69
9.76
10.62
__.10.69
__11.56
11.06
11.26
MARKET AND SALES AT NEW YORK.
Closed.
Total 1909.. 199,09880,321 110.861830,270
1 luaL
5,294
19,962
...
Spot Market
665,798 1,717,759
ttiMfr
Coast¬
wise.
true of those from Manchester.
The South was then
described as offering cotton more freely.
Later on came
another upturn, owing partly to predicted frosts in the
—
*—■ V-
Other
Foreign
Speculation in cotton for future delivery has been active at
widely varying prices. Last Tuesday there was an advance
of 50 to 60 points, followed on the next day by a reaction of
25 to 35 points, which in turn was succeeded by a
rise of 30 to
35 points.
Southern operators have been large buyers on
threats of frost in the Southwest and also on the ginning re¬
port issued last Tuesday by the Census Bureau, putting the
quantity ginned up to Oct. 18 at 5,410,960 bales, against
5,530,967 for the same time last year, 6,296,166 in 1908 and
4,420,258 in 1907. It was assumed that these figures, which
were about 600,000 bales less than some
expected, pointed
to a low crop this season, although it is worthy of note that
the ginning up to Oct. 18 last year of 5,530,967 bales, in a
year when the crop was only 10,513,022 bales, considerably
exceeded the ginning in 1906-07, when the total to Oct. 18
was only 4,931,621 bales;
yet the crop reached 13,550,760
bales.
It is thus apparent that the ginning returns at so
early a date are far from affording any clear insight into the
size of the crop.
Possibly it was a more general recognition
of this fact which caused the reaction on Wednesday that
succeeded Tuesday’s speculative outburst.
In any event,
there was profit-taking on a sufficient scale, together with
heavy selling by spot interests, to cause, as already in¬
timated, a noteworthy setback. The weather, too, at
that time was very generally favorable, and there were
some reports of a falling off in the spot demand.
The
South, Wall Street and the West were good sell¬
ers.
Liverpool advices were less stimulating and the same
....
....
830,613 225,348
Total 1910.
Total 1909.
Total 1908.
1,871
14,073
1,634
^
....
Total...... 129,641 66,690 99,066 296.280
New York,
Charleston
Mobile
Norfolk
New York
Other ports
7,930
66,271
13,400
5,000
Oct. 22 to Oct. 28—
....
....
New York....
Boston
Baltimore
Total.
.
.
......
Wilmington... 10,200
Conti¬
nent.
16,182 11,122 11,960 38.264
•
Sept. 1 1910 to Oct. 28 1910.
Exported to—
Great
Britain. France.
44,094:41,975 27,312 113,381
..
....
Toted.
New Orleans..
Galveston
Savannah
Ger¬
many.
was
8,969
....
Total
1910.
218.156
3,119
6,897
total
with
Britain. France
Futures
Market
Closed.
Sales
of Spot and Contract.
Con-
Spot. sum’n.
Saturday
Monday.
; Tuesday
Wednesday
Thursday
Friday
.
_
_.
Quiet
Quiet, 15 pts. dec__
Quiet, 30 pts. adv__
Steady, 15 pts, dec.
Quiet, 30 pts. adv__
Juiet
------
Con¬
tract.
Total.
2.400
1,600
2,000
2.400
6.680
2,032
3,100
4.400
3,100
4.400
Easy
Firm
Eas/
5.080
32
Steady
Steady..---.
—
‘
b
5.112
13.500 16.011
THE CHRONICLE
FUTURES.—The highest, lowest and closing prices at
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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.
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[VOL.
:«8
1°
„
h^5,S''
1
jfsf §: 3
lisas s
U
to
THE
VISIBLE SUPPLY OF COTTON to-night, as
made up by cable and telegraph, is as follows.
Foreign
stocks, as well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to 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.
October 28—
Stock at Liverpool
Stock at London
Stock at Manchester
bales.
.
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
.
.
....
i
Total Continental stooks.
1910.
1909.
1908.
1907.
412,000
5,000
14,000
672,000
7,000
34,000
411,000
14,000
26,000
542,000
27,000
40,000
431,000
10.000
102,000
86,000
2,000
8,000
20,000
2,000
713,000
11,000
179,000
232,000
2,000
7,000
15,000
3,000
451,000
20,000
185,000
100,000
4,000
12,000
14,000
10,000
609,000
18,000
129,000
91,000
3,000
10,000
18,000
34,000
230,000
Total European stocks..
India cotton afloat tor Europe
Amer. cotton afloat for Europe.
_
Egypt,Brazil,&c..afit.for EuropeStock In Alexandria, Egypt
Stock In Bombay, India
Stock In U. S. ports
Stock In U. S. Interior towns
U. S. exports te-day
...
449,000
345,000
303,000
661,000 1,162,000
63,000
26,000
751.405
816,169
68,000
42,000
142,000
123,000
191,000
103,000
688,436
889,429
471,775
530,365
28,^81
66,541
796,000
43,000
760,935
36,000
123,000
149,000
755,690
625,915
77,642
912,000
41,000
586,781
58,000
131,000
312,000
653,805
415,441
75,850
3,066,597 3,758,504 3,367,182
Of the above, totals of American and other descriptions are as follows:
The above totals show that the interior stocks have in¬
creased during the week 81,148 bales and are to-night 58,590
bales less than at the same time last year.
The receipts
at all the towns have been 46,836 bales more than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports
the week and since Sept. 1 in
-1910October 28—
Via St. Louis..
Via Cairo
Via Rock Island..
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, &c._
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. Braett, Ac.—
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egyplt, Brasil. &c., afloat
Stock In Alexandria. Egypt
Stock In Bombay, India
Total East India, &o
r
335,000
591,000
11,000
198,000
751,405
29,000
424,000
816,169
889,429
530,365
66,541
688,436
471,775
28,981
304,000
18,000
287,000
760,935
755,690
625,915
77,642
453,000
30,000
211,000
586,761
653,805
615,441
75,850
2,484,597 3,346,504 2,829,182 2,425,877
77,000
5,000
3,000
32,000
63,000
69,000
142,000
191,000
382,000
81,000
107,000
14,000
8,000
58,000
43,000
36,000
123,000
7,000
5,000
25,000
26,000
42,000
123,000
103,000
,
149,000
89,000
27,000
10,000
92,000
41,000
58,000
131,000
312,000
412,000
538,000
760,000
3,346,504 2,829,182 2,425,877
Total American
2,484,597
Total visible
3,066,597 3,758,504 3,367,182 3,185,877
supply
Middling Upland, Liverpool
7.76d.
7.71d.
Middling Upland, New York
14.75c.
14.75c.
Egypt, Good Brown, Liverpool..12 13-16d. 11 ll-16d.
Peruvian, Rough Good, Liverpool 10.50d.
9.00d.
7 l-16d.
Broach, Fine, Liverpool
7Hd.
Tlnnevelly, Good, Liverpool
7^d.
6$*d.
4.99d.
9.35c.
5.93d.
10.90c.
8^d.
10$4d.
8.15d.
12.00d.
5Xd.
5 7-16d.
4 13-16d.
4 ll-16d.
: Continental
imports for the past week have been 146,000
bales.
The above figures for 1910 show an increase over last week
of
262,749 bales, a loss of 691,907 bales from 1909, a
deerease of 300,585 bales from 1908, and a loss of 119,280
bales from 1907.
--
^
Week.
_.15,V80
-.11,856
2,085
5,603
3,704
8,348
5,324
Sept. 1.
..52,700
7.041
44,437
29,882
3,910
13,630
8,466
23,491
21,592
Since
Week.
14,115
8,641
Sept. 1.
45,568
22,655
100
929
4,102
1,921
3,988
5.634
13,291
5,846
11,452
14,680
145,408
38.501
114,061
18,355
4,380
13,624
3,620
11,366
523
956
687
980
7,756
8,520
36,359
5,287
21,089
Leaving total net overland*... ..44,180
109,049
33,214
92,972
..
..
—
__
—
_.
-.
Total gross overland
Deduct shipments—
Overland to N. Y., Boston,
Between Interior towns—
Inland, &c., from South
*
&c_
—
..
..
Total to be deducted
bales.
-1909Since
American—
Liverpool stock
Friday night. The results for
the last two years are as follows:
__
1,967
Including movement by rail to Canada.
The foregoing show’s the week’s net overland movement
has been 44,180 bales, against 33,214 bales for the week last
year, and that for the season to date the aggregate
land exhibits an increase over a year ago of 16,077
-1910-
Sight and Spinners’
Takings.
Receipts at pons of oct. 28
In
net over¬
bales.
-1909-
Since
Since
Week.
Week.
Sept. 1.
Sept. 1.
.390,831 2,519,282 420,071 2,826,881
44,180
109,049
33,214
92,972
28.. 48,000
310,000
52,000
442,000
481,011
81,148
2,938,331
420,997
505,285
56,125
3,361.853
447.202
Came Into sight during week—562,159
Total In sight Oct. 28
3,359,328
1
3,809,055
Oct. 28 94,251
420,864
82,997
358,753
Net overland to Oct. 28
South’n consumption to Oct.
Total marketed
Interior stocks In excess
North’n spinn’s takings to
Movement into
Week—
1908—Oct. 31
1907—NOV. 1
1906—Nov. 2
1905—Nov. 3
.
sight in previous
561,410
years:
Since Sept. 1—
Bales.
610,866 1908—Oct. 31
1907—Nov.
1
454,462
.625,490 1906—Nov. 2
467,105 1006—NOV. 3
Bales.
3,625,058
....2,737,143
3,483,325
...3,465,666
QUOTATIONS FOR MIDDLING COTTON AT OTHER
of middling
markets for
eachjday^ofjthe week.
MARKETS.—Below are the closing quotations
cotton at Southern and other principal cotton
THE CHRONICLE
Oot. 29 1910. |
Closing Quotations Jot
Week ending
October 28.
Oalveston
New Orleans
Mobile
Savannah
....
Charleston
Wilmington
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock
—
Sat'day.
Monday,
Tuesday^
14%
Middling Cotton on—
Wed'day. Thursd'y,
Friday,
14%
14 %
14%
14%
14%
14%
14 %
14%
14%
14
14
14
14
14 %
14%
14%
14 5-16
14 1-16
14
14
14
14 5-16
14 %
14.70
14 5-16
14 1-16
14 1-16
13 %
14
14%
14
14H
14%
14%
14%
14%
14.55
14.85
14.70
14 3-16
15.00
15.00
14%
14% @6i«
14%
14%
14%
14%
14%
14 %
14%
14%
14%
14 %
14 7-16
14%
14%
14 7 16
14 %
14
14 5-16
14%
14%
14%
14 5-16
14 %
14 1-16
14 1-16
14
14
13%@14 14%
14
14
14
14
14%
%
14%
14%
14%
14%
Sat’day,
Monday, Tuesday, Wed’day, Thursd’y
Friday,
Oct. 22.
Oct. 24.
Oct. 27.
Oct. 28.
Oct. 26.
October—
Range
Closing
14.20-.30 13.95-.07 14.30-.45 14.30-.46 14.36- .45 14.22-.40
14.10-.20 13.95-.96 14.45-.47 14.25-.28 14.32-.36 14.28 *
November—
Range
Closing
9
@ — 14.18 — 14.02-.20
@ —
13.96-.98 13.72-.74 14.27-.28 14.02 — 14.28
—
—
—
—
@
—
14.23-.25
—
—
December—
Range
Closing-
14.02-.24 13.77-.93 13.95-.34 14.03-.37 14.16-.34 14.17-.33
14.02-.03 13.77-.78 14.33-.34 14.03-.04 14.29-.30 14.25-.26
January—
Range
Closing
February—
Range
Closing
‘
14.08-.30 13.86-.03 14.01-.44 14.10-.45 14.22-.43 14.23-.42
14.10-.il 13.86-.87 14.43-.44 14.11-.12 14.37-.38 14.32-.33
(» —
@ —
@ —
@ —
9 —
@ —
14.18-.20 13.94-.96 14.50-.51 14.20-23 14.46-.48 14.41-.42
—
—
—
—
—
New Orleans, Louisiana.—Rain has fallen on one day
during the week, to the extent of ten hundredths of an inch.
The thermometer has averaged 64, ranging from 50 to 78.
Shreveport, Louisiana.—There has been rain on three days
of the week, the precipitation reaching twenty-four hun¬
dredths of an inch.
The thermometer has averaged 64, the
highest being 84 and the lowest 44.
Columbus, Mississippi.—We have had rain on one day dur¬
ing the week, the rainfall being forty-eight hundredths of ah
inch.
The thermometer has averaged 61, ranging from
37 to 86.
Vicksburg, Mississippi.—We
NEW ORLEANS OPTION MARKET—The highest,
lowest and closing quotations for leading options in th eNew
Orleans cotton market for th e past week have been as follows:
Oct. 25.
1191
—
had rain on two days
hundredths of an
the highest being
of the past week, the rainfall being twelve
inch.
The thermometer has averaged 62,
83 and the lowest 41.
Helena, Arkansas.—Light frost this morning.
Rain has
fallen on one day during the week, to the extent of twentyfive hundredths of an inch.
The thermometer has averaged
57, ranging from 36 to 79.
Little Rock, Arkansas.—We have had rain on one day
during the week, the rainfall reaching fifty-six hundredths of
an inch.
The thermometer uas averaged 59, the highest
being 79 and the lowest 38.
Memphis, Tennessee.—Picking and marketing making good
Light frost on Saturday last. Rain has fallen on
during the week to the extent of fifty hundredths of
The thermometer has averaged 59, ranging from
progress.
two days
an inch.
41 to 79.
Nashville, Tennessee.—We have had rain on two days of
hundredths of an inch.
to 72, averaging 53.
14.37-.60 14.13-.30 14.28-.70 14.36-.71 14.48-.69 14.47-.64
Range
Mobile, Alabama.—Cotton picking is making good progress.
14.13-.15
14.72-.73
14.37-.38
14.63-.64
14.58-.59
14.37-.38
Closing
Rain in the interior on the 27th and light frosts on Saturday,
July—
14.52-.61 14.21-.35 14.35-.62 14.43-.76 14.55-.71 14.61-.66
Range
Sunday,
Monday and this morning. Rain on one day of the
14.44-.46 14.21-.22 14.79-.80 14.45-.46 14.69-.70 14.63-.64
Closing
week, with rainfall of one inch and thirty-three hundredths.
Tone—
Steady.
Quiet.
Steady. Steady.
Quiet.
Quiet.
Spot
Average thermometer 66, highest 82, lowest 48.
Firm.
Steady. Very sty. Steady.
Ba’ly s’y Steady.
Options
Montgomery, Alabama.—We have had rain on one day
Nominal.
during the week, the rainfall reaching sixty-eight hundredths
WEATHER REPORTS BY TELEGRAPH.—Advices to of an inch.
The thermometer has averaged 64, the highest
being 85 and the lowest 46..
us by telegraph this evening denote that dry weather has
Selma, Alabama.—Rain has fallen on two days during the
prevailed over a considerable portion of the South during the week, to the extent of
sixty-five hundredths of an inch. The
week, and that where rain has fallen the precipitation has, as thermometer has averaged 59, ranging from 42 to 77.
a rule, been light.
Temperature has been lower writh light
Madison, Florida.—The week’s rainfall has been one inch
frosts reported in some localities, but there are no complaints and fourteen hundredths on one day.
Average thermometer
68,
highest
87,
lowest
48.
of damage.
Picking, with good weather, has progressed
Atlanta, Georgia.—There has been rain on one day during
very well.
the week, the precipitation reaching twenty-five hundredths
Galveston, Texas.—There has been no rain the past week. of an inch. The thermometer has averaged 60, ranging
The thermometer has averaged 62, the highest being 74 from 37 to 83.
and the lowest 50.
Savannah, Georgia.—It has been dry all the week. The
thermometer has averaged 68, ranging from 50 to 89.
Abilene, Texas.—There has been no rain during the week.
Charleston, South Carolina.—We have had no rain during
The thermometer has averaged 46, ranging from 34 to 58.
the week.
The thermometer has averaged 68, ranging from
Brenham, Texas.—We have had no rain the past week. 55 to 81.
The thermometer has ranged from 44 to 88, averaging 66.
Greenville, South Carolina.—There has been no rain during
ICuero, Texas.—Rain on one day of the week, with pre¬ the week. The thermometer has averaged 61, ranging from
cipitation of two hundredths of an inch. Average ther¬ 39 to 82.
mometer 64. highest 91, lowest 37.
Charlotte, North Carolina.—.Cotton is being rapidly picked.
Dallas, Texas.—We have had no rain during the week. There has been rain on one day of the week to the extent of ten
The thermometer has averaged 61,
The thermometer has averaged 63, the highest being 91 hundredths of an inch.
and the lowest 35.
ranging from 44 to 82.
The following statement we have also received by tele¬
Henrietta, Texas.—There has been no rain during the week.
The thermometer has averaged 61, ranging from 35 to 87.
graph, showing the height of rivers at the points named at
Huntsville, Texas.—There has been no rain during the o a. in. ui i»ue uaies given:
Oct. 28 1910.
Oat. 29 1909.
week.
The thermometer has ranged from 37 to 87, aver¬
Feet.
Feet.
New
Orleans
Above
zero of gauge.
6.4
3.7
aging 62.
Memphis
Above zero of gauge.
7.4
7.0
Kerrville, Texas.—We have had no rain the past week. Nashville
Above zero of gauge.
7.5
7.0
Shreveport
Below zero of gauge.
4.4
4.4
Average thermometer 60, highest 80, lowest 39.
Above zero of gauge.
15.9
i.6
Lampasas, Texas.—We have had no rain the past week. Vicksburg —%.
The thermometer has averaged 62, the highest being 87
EXPORTS OF BREADSTUFFS, PROVISIONS, COT¬
and the lowest 37.
TON AND PETROLEUM.—The exports of these articles
Longview, Texas.—-There has been no rain during the week. during the month of September and the nine months, for
The thermometer has averaged 62, ranging from 37 to 86.
the past three years, have been as follows:
Luting, Texas.—We have had no rain the past week. The
thermometer has ranged from 42 to 84, averaging 63.
1910.
Exports
1908.
1909.
from
Nacogdoches, Texas.—We have had no rain during the
States. September. 9 Months. September. 9 Months. September. 9 Months.
Untied
week. Average thermometer 61, highest 87, lowest 34.
Paris, Texas.—There has been rain on one day of the week,
Quantities.
bush 2,207.690 13.571,825 6,710,386 26,218,986 13,427,527 •7,502,779
the precipitation reaching four hundredths of an inch.
The Wheat.,
Flour....bbls
949.752 5,513,187 1,161,194
6,245,677 1,086,616
9.368.721
thermometer has averaged 62, the highest being 89 and the
March—
Range
Closing
May—
14.26-.48 14.01-.17 14.15-.60 14.24-.62 14.35-.57 14.35-.52
14.26-.27 14.01-.02 14.59-.60 14.26-.27 14.50-.51 14.46-.47
the week, the rainfall being forty-four
The thermometer has ranged from 34
*
lowest 37.
San Antonio, Texas.—Rain has fallen on one day during
the week, to the extent of one hundredth of an inch.
The
thermometer has averaged 55, ranging from 44 to 66.
Taylor, Texas.—There has been no rain during the week.
The thermometer has ranged from 40 to 84, averaging 62.
Weatherford, Texas.—We have had no rain during the week.
Average thermometer 60, highest 85, lowest 34.
Ardmore, Oklahoma.—We have had no rain the past week.
The thermometer has averaged 62, the highest being 87
and the lowest 37.
Holdenville, Oklahoma.—There has been no rain during the
averaged 60, ranging from
week.
The thermometer has
34 to 85.
Alexandria, Louisiana.—We have had no rain the past
week.
The thermometer has ranged from 36 to 87, aver¬
aging 62.
Wheat •.bush
Com....bush
6.481.574 38,381,166 11,935,759 54,324,532 18,317,299 109,662,023
2.261,461 27,141,951
489,485 25,766.584
974,993 25,193.717
Total bush.
8.743,035 65,523,117 12,910,752 79,518,249 18,806,784 135,428,557
Vabues.
Wheat A flour
Com and meal
Oats and meal
Barley
Rye
Breadstuffs
t
1
9
I
9
8
7,241,982 42,422,701 12,802,840 60,623,988 18,557,727 110,658.365
463,370 18,014,377
1.491,759 19,170,034
771,761 18,984,189
885,671
45,345
889,035
69,769
935,052
117,041
1,990,132
562,271
781.211
413,593
1,904,205
1.884,864
1.943,697
302,349
74
250,135
38,305
13,889
9,584.795 64.426,540 14,143,540 82,651,552 19,931,062 133,492*242
8.824.346 81,736,793 9,326.179 103,549,313 12,261.065 122,127,396
638.669 5,815,876 1.392.138 11,644,379 1.952.956 19.367429
Cotton
54.882.811 247,067,594 46,164,510 239,643,514 32,485.795 245,176,184
Petroleum, Ac 7,531.243 67,547,619 9.609.139 75,089,415 9,456,320 80,967,154
Provisions...
Cattle & hogs
Total value 81,461,764 466.594,422 80,636,506 512,578.173
*
76.087.198j601.130.805
Including flour reduced to bushels.
Note.—All the above figures are b^aed on the monthly preliminary returns Issued
by the Bureau of Statistics, and cover about 96% of the total experts.
1193
THE CHRONICLE
WORLD’S SUPPLY AND TAKINGS OF COTTON.
1910.
Week.
supply Oct. 21
Week.
Season.
Deduet—
Visible supply Oct. 28
1,495,514
3,359,328
51,000
39,000
218,000
53,000
561.410
22,000
3,000
44,000
5,000
3,458,007
5,215,842 4,143,437
6,055,077
3,066,597
3,066,597 3,758,504
3,758,504
2.149.245
1.668.245
481,000
2.296.573
1.916.573
391.410
331.410
60,000
Of which other
384.933
335.933
49,000'
380,000
receipts in Europe from Brazil, Smyrna, West Indies, &c.
INDIA COTTON MOVEMENT FROM ALL PORTS.
Oeteivr 27.
1910.
Receipts at—
1909.
Since
Week.
Bom bn
Week.
51,000
Since
Sept. 1.
22,000
For the Week.
Expert*
from,—
1908.
Since
Sept. 1.
l * .000
v
Week.
77,000
Sept. 1.
9,000
52,000
Since September 1.
Great
Conti¬ Japan
Britain. nent. dkChina Total.
Great
Britain.
Conti¬
Japan
nent.
& China.
Total.
Bombay—
1910
1909
1908
Calcutta—
1910
1909
1908
Madras—
1910
1909
1908
All others—
1910
1909
1908
1,000
2.666
6,000
2,000
7.000
4,000
5,000
5,000
.
_
...
1,000
1,000
—
2,000
1,000
85,000
25,000
48,000
1,000
1,000
1,000
4,000
4,000
5,000
5,000
6,000
7,000
1,000
1,000
4,000
4,000
5,000
4,000
2,000
3.000
4,000
3,000
2,000
11.000
7,000
8,000
8,000
5,000
4,000
—
—
2,000
1,000
2,000
1,000
3,000
....
Total all—
1910.
1909
1908
3.000
2,000
4,000
8,000
1,000
—
To Dunkirk—Oct. 25—Euston, 1,100
To Bremen—Oct. 21—Hannover, 11,886
Oct.
Largo, 9,395
Oct. 24—Kendal Castle, 3,029
To Antwerp—Oct. 24—Kendal Castle, 3,002
....
6,000
2,000
—
RECEIPTS
16,000
12,000
24,000
104,000
38,000
72,000
1,000
6,000
5,000
7,000
25,000
31,000
38,000
3,666
29,000
34,000
43,000
119,000
64,000
97,000
16,000
13,000
28,000
1,666
143,000
82,000
129,000
AND
COTTON.—Through arrangements
Choremi, Benachi & Co., of Boston
now
receive
SHIPMENTS OF
made with Messrs.
and Alexandria, we
weekly cable of the movements of cotton at
a
Alexandria, “Egypt.
ments for the
The following
are
the receipts and ship¬
past week and for the corresponding week of
the previous two years:
Alexandria, Egypt,
October 26.
1910.
1909.
480,000
1,634.936
320,000
1,203,689
1908.
Receipts (cantars)—
This week
Since .Sent. 1
__
__
This
Exports (bales)—
Total
Since
This
Week. Sept. 1.
To Liverpool
To Manchester
To Continent
To America
310,000
936.334
Since
This
Week. Sept. 1.
29,270
14,500
37,284
4,235
6,750
6,103
9.500
8,250
6.500
1.500
8,000
2,250
16,454
6,149
35,061
5,063
•>6,500 116.4 1
25,750
85,289
17,000
62,727
Note.—A cantar Is 99 lbs.
Total
38.773
Egyptian bales weigh about 750 lbs.
MANCHESTER MARKET.—Our report received by cable
to-night from Manchester states that the market is firm for
both yarns and shirtings. The demand for both home trade
and foreign markets is
improving. We give the prices for
to-day below and leave those for previous weeks of this and
last year for comparison:
1910.
d.
growth of 1910
as
follows, comparison being made with the
period of the preceding years.
The third
ginning report for the season places the quantity ginned prior
growth of 1910 at 5,410,960 bales, counting round as
bales, against 5,530,967 bales a year ago, 6,296,166 bales two
years
ago and 4,420,258 bales three years ago.
The round bales included this
year were 65,105, compared with 88,716 for 1909.
The Sea Island cotton
reported for 1910 was 25,324, compared with 36,482 for 1909.
The number of bales, counting round as half bales,
ginned to Oct. 18
the last four years, by States, was as follows:
to Oct. 18 from the
half
Alabama
Arkansas
Florida
A_
8.
d.
s.
d
d.
@
11%
111-16 @
11
@
11*4
128
luli
10 %
@
11%
@
10%
11H
109-16@115-16
10%
@115-16
5
5
5
5
5H@10
6
@10
6
@10
6
@10
10%
5
5
5
5
7
@10 9
7 %ia 11 0
7
@10 9
6%@10 8
@
11%
114
7%
7%
7%
7%
8.03
7.98
7.82
7.61
8% lbs. Shirtings, common
to finest.
32s Cop
Tioist.
Upl's
Sept
9
16
23
30
Oct
7
14
21
d.
d.
9 7-16 @
9%
9%
9%
7.88 9%
8.25 10
7.95 10%
@
@
@
@
@
@
7.76 10%
s.
d.
10 % 5
10% 5
10% 5
10 % 5
1
10%
10%
10%
11%
5
5
5
5
s.
26—Helllg Olav, 300
^Genoa—Oct. 21—Konlg Albert,
1910.
1909.
1908.
520,051
161,111
26,837
914,565
113,202
354,361
249,942
419,983
513,512
57,658
2,068,743
7,995
512,323
330,884
35,006
1,113,341
143,977
390,096
250,040
329,429
624,301
101,250
1,675,428
19,892
694,104
347,468
34,027
1,119,228
207,992
621,399
276,222
132,556
660,678
131,073
d.
Oct. 7.
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
Spot.
Market,
12:15
P. M.
Monday.
Tuesday.
Quiet.
Fair
business
Easier.
1
)
J
9
9
(* 9
9
4U@9 9
6
@9 11
7.27
7.41
7.37
7.71
3%@9
4
1_
bales.
4,852
1.085
100
1,941
...
1,548; Regina de Italia,
Naples—Oct" 21—Konlg Albert70011111111111111111111
300
2,548
700
Oct. 28.
45,000
3,000
1,000
36,000
4,000
95,000
412,000
335,000
130,000
113,000
437,000
369,000
/
opened
Market,
4
P. M.
1
)
J
Friday.
Fair
business.
doing.
Easier.
Moderate
demand.
7.89
7.78
7.66
7.88
7.69
7.76
10,000
1,000
10,000
8,000
7,006
500
500
506
Steady,
@9
Oct. 21.
58,000
3,000
1,000
48,000
2,000
85,000
379,000
302,000
197,000
167,000
410,000
353,000
Wednesday. Thursday.
doing.
Futures.
Market
\
6.83
6.93
7.31
7.29
65,000
63,000
430,000
369,000
Saturday.
Upl’s
7%
Oct. 14.
70,000
3,000
2,000
56,000
3,000
74,000
269,000
204,000
62,000
1,000
2,000
53,000
3,000
56,000
280,000
207,000
62,000
53,000
350,000
315,000
Liverpool market for spots and futures
each day of the past week and the daily
closing prices of
spot cotton have been as follows:
500
@9
240,210
537,273
60,644
1,289,324
7,129
The tone of the
8,000
@9
1H@9
23,623
216,104
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week's sales, stocks, &c., at that port.
500
d.
2,047,796
1907.
416,912
163,371
19,863
878,643
180,720
410,065
Total United states
...5,410,960
5,530,967
6,296,166 4,420,258
The distribution of Sea Island cotton for 1910 by States
Is: Florida,
9,861Georgia, 14,256, and South Carolina, 1,270. The statistics in
this report for 1910 are subject to slight corrections when checked
against
individual returns of ginners, being submitted by mail.
The corrected
statistics of the quantity of cotton ginned this season to
Sept. 25 are
2,312,074 bales.
6,000
2
3
foreign
To Hull—Oct. 24—Idaho, 1,085
To Hamburg—Oct. 26—President
Grant, 100
To Antwerp—Oct.
21—Finland, 1,941
To Copenhagen—Oct.
North Carolina.
Oklahoma
South Carolina
Tennessee
Texas
All other States.
Spec.&exp.
6
6
NEW YORK—To Liverpool—Oct.
21—Arabic, 4,797 upland, 55
a
Mississippi
Cot ’n
Mid
SHIPPING NEWS.—As shown on a
previous page, the
exports of cotton from the United States the past week have
reached 295,286 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
T#
Louisiana
Sales
Cot’n
Mid.
295,286
returns for the like
Mid. Upl’ds
1909.
8% lbs. Shirtings, common
to finest.
d.
3,002
,
_
41,222
30,30*
The statement shows that the
receipts for the week were
480,000 cantars and the foreign shipments 26,500 bales.
32s Cop
Ticist.
24,310
CENSUS BUREAU REPORT ON COTTON GINNING
TO OCT. 18.—The Census Bureau issued on Oct. 25 its re¬
port on the amount of cotton ginned up to Oct. 18 from the
Since
Week. Sept. 1.
10,750
6,250
7,500
2,000
exports.
1,100
22—Cayo
TEXAS CITY—To Liverpool—Oct. 25—Crown of Arragon, 11,919. 11,919
NEW ORLEANS—To
Liverpool—Oct. 24—Aslan, 9,357
Oct. 28—Civilian, 17,000
26,357
To London—Oct. 27—Ramsey, 113
113
To Havre—Oct. 22—Honduras. 6,392
6,392
To Dunkirk—Oct. 22..Honduras, 1,101
Oct. 27—Meldon.
4.300
5,401
To Bremen—Oct. 22—Black Prince, 9,876
9,376
To Genoa—Oct. 25—Victorious, 4,241
4,241
To Honduras—Oct. 27—Joseph Vaccaro, 200
200
MOBILE—To Liverpool—Oct. 21—Belgian, 5,773.
5,773
SAVANNAH—To Liverpool—Oct. 25—Californian, 14,982
14,982
To Manchester—Oct. 25—Californian, 200
200
To Havre—Oct. 24—Glencllffe,
11,122
11,122
To Bremen—Oct. 22—Mohacsfleld. 11,550.
11,550
To Warberg—Oct.
22—Mohacsfleld. 300
300
To Gothenburg—Oct.
22—Mohacsfleld. 100..
100
CHARLESTON—To Bremen—Oct. 25—Queen Wllhelmina, 5,900;
Waverley, 10.600
16,500
WILMINGTON—To Liverpool—Oct. 22—Basuta, 10,200
10,200
To Bremen—Oct. 22—Frldland,
17,417
17,417
BOSTON—To Liverpool—Oct. 21—Sagamore, 1,998
Oct 25—
Ivernla, 3,018
Oct. 26—Georgian, 500
5,516
To Antwerp—Oct.
20—Marquette, 16
16
To Yarmouth—Oct. 20—Prince
124
Arthur, 124
BALTIMORE—To Liverpool—Oct. 21—Templemore, 1,550
1,550
To Havre—Oct.
21—Philadelphian, 1,700
1,700
To Bremen—Oct. 26—Main. 3,681...
3,681
PHILADELPHIA—To Liverpool—Oct. 21—Friesland. 1,000
1,000
To Manchester—Oct. 24—Manchester
Commerce, 2,000
2,000
SEATTLE—To Japan—Oct. 25—Awa Maru, 2,142
2,142
TACOMA—To Japan—Oct. 24—Red Hill, 507
507
Georgia
ALEXANDRIA
-
r
Total takings to Oct. 28.
Of which American.
•
Total bales.
GALVESTON—To Liverpool—Oct. 21..Patrician, 18,313
Oct.
—Istrar, 11,249
29,562
To Manchester—Oct. 25—Ventura de Larrlnaga, 14,532
14,532
To Havre—Oct. 24—Matteawan, 9,158
Oct. 25—Euston,
6,741; Irishman, 24,976..
40,875
3,508,02?
562,159
18,000
4,000
64,000
6,000
Total supply.
Season.
1,931,022
3,809,055
77,000
44,000
161,000
33,000
.
Bm braces
1909.
2,803,848
American in sight to Oct. 28
Bombay receipts to Oct. 27
Other India ship’ts to Oct. 27._
Alexandria receipts to Oct. 26.
•ther supply to Oct. 26 *
•
LXXXXI
-
Cotton Takings.
Week and Season.
Visible
[Vol.
Easy at
unchanged. 8 @10 pts.
Quiet at
1@2 pts.
decline.
Steady at Irregular at
5@6 pts.
Easy at
11@ 15 pts. 15@16 pts.
decline.
decline.
advance.
decline.
Barely sty.
atl4H@16
pts. dec.
Firm at
10@11H
pts. adv.
Quiet at
5@7 pts.
Steady at
6@9 pts.
advance.
decline.
Setady at
1@3 pts.
advance.
Barely sty.
%&2
pts. adv.
at
The
below.
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
Oct. 22
Sat.
lOOths.
Mon.
Tues.
4
12%
p.m. p.m.
p.mjp.m.
Thus, 7 69 means 7 69-1004.
%ed.
Thurs.
Fri.
to
Oct. 28.
October..
Oct.-Nov.
Nov.-Dee.
Dec.-Jan.
Jan .-Feb.
Feb.-Mch.
12%
12%
p.m.
p.m.
m
^
Mch.-Apr.
Apr.-May.
M'ay-June
June-July
Juiv-A”".
-V
-
-
-
7 69% 60
7 61
50%
7 53% 44
7 53
43%
7 53
43%
7 53% 44
7 53% 44
7 53 % 44
7 54
44 %
7 53
43 %
7 51
41 V4
55
45
38
38
38
38
38
38
38
37
35
12%,
50
4
165
% 41 %57
% 34
149 %
33 % 49
33 % 49
33 % 49
34
49 %
34
|49 %
% 34 % 50
33
\48%
U 31 % 47
4
4
12%
4
12%
12%
p.m. p.m. p.m. p.m. p.m. p.m.
72
54 % 61
70
64 % 62 % 48
155
57% 55% 41 % 49
57
55
41
j48 %
57
55
41 %'49
55
41
%
H 49 ^
57%
58
56
42H 50H
58
56
42^ 50H
58 % 57
43^ 51 H
42
57% 55
150
56
54
40% 48 %
62
57
50
50
50
51
51
51
52
62
57
% 50%
50
49
%
50%
50
51
% 51 %
% 51%
% 52 %
51% 51
Oot. 29
THE CHRONICLE
1910.]
BREADSTUFFS.
Friday, Oct. 28 1910.
Prices for wheat flour have declined, owing to further de¬
pression in wheat.
1193
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat.
Mon. Tues.
Wed. Thurs Fri.
December delivery in elevator
30% 30% 30% 31% 31% 31%
May delivery In elevator
33%
34%
34%
34%
34% 34%
July delivery In elevator
32%
33%
33%
34
34%
34%
The mills have been less disposed to
The following are closing quotations:
other hand,
FLOUR.
sparingly as Winter, low grades.. ..$2 75 @33 50 Kansas straights, sack.34 60 @34 80
4 6) @ 4 95 Kansas clears, sacks... 4 00
possible. Some of the mills at the Northwest have closed Winter patents
@ 4 40
4 15 @ 4 4 > City patents
straight*
6 00 @ 6 80
down.
Reports from various parts of the Southwest and Winter
Winter clears
3 75 @ 4 00 Rye flour
3 90 @ 4 45
the West have been discouraging, telling of dulness of trade Spring patents
5 25 ® 5 50 Graham flour
4 15 @ 4 25
4 90 @ 5 10 Corn meal, kiln dried._ 3 05® 3 1#
straights
and a downward trend of prices.
Rye flour and corn meal Spring
4 25 @ 4 35
Spring clears
have been quiet and steady.
GRAIN.
Wheat has been dull and depressed.
The changes for Wheat, per bushel—
Corn, per bushel—
Cents.
N.
Spring, No. 1...
No. 2 mixed
31 14 %,
the week are not very marked, though such as they are they
eiev.
57
N. Spring, No. 2.
1 13
No. 2 mixed
f.o.b.
Nominal
indicate some decline.
The world's stocks are about 33,Red winter. No. 2
98
No. 2 white
f.o.b.
Nominal
Hard winter. No. 2
1 03
Rye, per bushel—
000,000 bushels larger than at this time last year. They now Oats,
per bushel, new—
Cents.
No. 2 Western
f.o.b.
78
reach a total of approximately 168,000,000 bushels.
Standards
The
37
State and Jersey
Nominal
white
No.
2
38
74 @78
Barley—Malting
supplies at our Northwestern points are increasing. The
No. 3 white
37
Feeding, c.l.f.. N. Y__
Nominal
crop news is on the whole favorable.
A preliminary official
estimate of the Russian yield makes it 42,000,000 bushels
The statements of the movement of breadstuffs to market
larger than that of last year, and the outlook for crops else¬ indicated below are prepared by us from figures collected by
where in foreign countries is in the main promising.
At the the New York Produce Exchange. The receipts at Western
same time
there is very little export demand here, for the lake and river ports for the week
ending last Saturday and
reason
that competing foreign. countries are underselling since August 1 for each of the last three
years have been:
America in the importing markets of the world. At Chicago
Wheat.
Oats.
Com.
prices of flour have been reduced. Some mills at Minne¬ Receipts at— Flour.
Barley.
Rye.
apolis have closed down for lack of shipping directions on or¬
»Ws.l96i&s. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.48lbs. bu.56 lbs.
ders placed some time ago. Kansas City has reported the offer¬ Chicago
193,836
380,300
1,945,000
2.048,400
677,000
28,000
82,205
287,953
119,780
484.200
486,200
18,340
ings of Nebraska farmers the largest this season. At Buenos Milwaukee.
Duluth.i...
26,285
1,021,465
12,586
563,024
26,252
Ayres prices have been declining, owing partly to the favor¬ Minneapolis.
2,847,020
173,240
497,040
744.742
41,410
able crop outlook in Argentina, and shipments from that Toledo
128,800
64,300
61,500
3,000
Detroit
7,860
164.164
21,421
58,614
country for the week have largely exceeded those for the Cleveland
2,127
11,546
39,054
99,513
1,002
Louis...
60,050
452,478
303.115
464.100
70,000
13,200
corresponding week of 1909. European markets have on St.
49,600
30,030
453,628
260.200
94,800
the whole shown a downward tendency, both in England Peoria
Kansas City.
232.800
1,148,400
156,400
and on the Continent.
Yet, as already intimated, the de¬ Total wk. TO
421,963
6,472,153
3,352.338
4,142,553
2,636,768
130,202
cline in American quotations during the week has not been
Same wk. '09
439,633 11,597,566
2,409,715
4,531,996 2,549,775
213.410
very severe. For one thing, the crop movement in this coun¬ Same wk. '08
547,668
7,292.196
1,692,103
4,340,580 2.266,202
214,152
try has been comparatively small, and after the prolonged Since Aug. 1
decline in prices there has been a noticeable disposition
1910
4,546,361 94,866,601 43,525,916 67,664,760 19.629,751 1,800,992
1909
6,065,039 101,920,359 38,507,530 54,903,147 24.672.332 2,618,693
among commission houses to buy on what are termed “rest¬
1908
5,893,741 102,132,252 28,316,332 57,098,465 33.261.570 2,659,284
ing orders," i. e., orders to be executed in this case on any
It is said, too, that the movement of the crop at
decline.
Total receipts of flour and grain at the seaboard ports for
the Northwest is likely to fall off sharply during the coming
week and that stocks at Minneapolis, instead of increasing the week ended Oct. 22 1910 follow:
Flour,
Wheat.
Com,
Oats,
Barley,
Rye,
markedly as they have each week for some time past there,
bbls.
Receipts at—
bush.
bush.
bush.
bush.
bush.
are likely in the near future to decrease.
At Minneapolis a New York..
222,227
842,800
153,525
761,950
74.300
1,150
50,904
472,055
16,683
90,938
good demand for cash wheat is reported and at least one of Boston
9,334
1,062
Philadelphia
64,259
392,560
32,756
140,112
the mills there is said to be doing a big business in flour. The
Baltimore
61,697
133,374
288,109
12,709
”9,465
concensus is, however, that
2,045
57,572
30,894
32,308
1,000
although prices may rally for a Richmond
Orleans*..*
18,352
80,500
54,500
time, after a sharp and almost uninterrupted decline, there New
News
Newport
1,632
is little likelihood of any material or at any rate any perma¬ Norfolk
1,607
Galveston
nent advance in the face of
9,000
3,000
existing conditions in the wheat Mobile.
I " 3",700
5,550
markets of the world.
To-day prices declined on dulness Montreal
72,372
1,693.411
445,915
92,104
58,499
on the spot, favorable
crop news, larger Argentine shipments Total week 1910.
498,795 3,600,772
1,056,932
1,184,621
142,133
12,677
than had been expected, bear
Since Jan. 11910. 14,681,665 57,266,790 33,519,344 41,194,678 2737,317
hammering and liquidation.
680,153
sell at the lower prices, but consumers, on the
adhere tenaciously to the policy of buying as
--
--
-.
._
-.
•
•_
_
*
._
.
.
.
.
.
_
DAILY CLOSING PRICES OF WHEAT FUTURES
Sat.
Mon.
Tues.
No. 2 red winter
December delivery
IN NEW
YORK.
Wed. Thurs.
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
Mon. Tiies. Wed. Thurs. Fri.
December delivery in elevator
92%
92%
92%
93%
93%
92%
May delivery in elevator
99 %
98 %
99 %
99 %
99 %
98 %
July delivery in elevator
96%
96%
96%
96%
96%
96%
Indian corn futures have been extremely dull.
At the
West the trading has been fairly active, with
prices irregular.
At times moderate declines have
occurred, owing to favora¬
ble weather for curing the crop and expectations of a marked
increase in the movement to market in the near future.
Sup¬
plies of old corn are believed to be large, and the idea of many
is that the pressure of both the old and new
crops will cause
a further decline sooner or later.
Rallies have occurred at
times, however, owing mainly to liquidation on the short
side, though there has also been more or less new buying in
expectation of at least a temporary upturn. To-day prices
opened easier on good weather and large Argentine ship¬
ments, but rallied, and advanced later on covering of shorts.
The market had become oversold.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
NEW YORK.
Cash corn
Deoember
:
delivery in elevator
May delivery in elevator.---.
Mon.
Tues.
57%
55%
54
55%
54%
56%
54%
56%
58%
Wed. Thurs.
56%
55%
56%
DAILY CLOSING PRICES OF CORN FUTURES IN
Sat.
Deoember delivery In elevator
May delivery In elevator
July delivery in elevator
45%
48%
49%
Mon.
Tues.
45%
49
49%
45%
49
49%
Fri.
56 ^
57
55%
55%
57%
57
CHIQAGO.
Wed. Thurs.
46%
49%
50%
46%
49%
50
Fri.
46%
49%
50%
Oats for future delivery in the Western market have
moved within a narrow range, following the fluctuations in
corn much of the time.
The undertone of the market, how¬
has been firm. The pressure of country offerings has
latterly diminished, and cash interests of prominence who
were recently persistent sellers have within a
day or two made
good purchases. Still, the buying has been to cover in the
main.
Sentiment is bearish, owing to the large interior
sup¬
plies. To-day prices were easier at first, but they rallied
later with corn.
Country offerings were light and shorts
♦Receipts do not include grain passing through New Orleans for foreign ports on
through bills of lading.
The exports from the several seaboard ports for the week
ending Oct. 22 1910 are shown in the annexed statement:
covered.
Philadelphia
37 %
38%
....
Baltimore
New Orleans....
Com,
Flour,
Oafs,
Rye,
Barley,
bush.
bush.
bbls.
bush.
bush.
bush.
228,080
189,428
57,000
306,986
298.778
47,065
93,309
4,803
31,000
35,601
13,175
1,632
2,530
3,700
5,535
6,250
55,000
1,607
1,000
852,336 242,357
442.927 200,003
13,185
32,388
155,843
52,100
Newport News
Galveston
Mobile.
Montreal
Norfolk
5,550
293,000
586,000
Total week
Week 1909.
1.367,494
2,746,137
below:
as
3,176
1,272
42,000
for the week and since
Wheat
Since
Com
Since
July 1
1910.
Exports for week and Oct. 22.
since July 1 to—
bbls.
bbls.
United Kingdom... 117.422 1,145,537
Continent
55,873
534,878
So. and Cent. Amer. 35,478
298,905
West Indies
30,417
339,266
Brit. No. Am. Cols.
2,000
46,687
Other countries
1,167
61,523
Total
Total 1909
bush.
3,176
,
Flour
Week
Peas,
400
The destination of these exports
July 1 1910 is
Week
Oct. 22.
bush.
July 1
909,391
455,102
3,001
9,315,673
5,206,973
94,450
Since
1910.
bush.
Week
Oct. 22.
bush.
July 1
353,541
459,695
1910.
bush
7,000
2,446
1,645,969
1,797,986
1,276,234
444,611
5,000
9,035
242,357 2,426,296 1,367,494 14,624,096
200,003 2,862,597 2,746,137 27,220,060
852,336
442,927
5,178,835
2,414,064
350
36,304
The world's shipments of wheat and corn for the week
ending Oct. 22 1910 and since July 1 1910 and 1909 are
shown in the following:
Wheat.
•
1910.
Week
Oct. 22.
Bushels.
North Amer. 3,568,000
Russian
5,792,000
Danubian
1,856,000
840,000
Argentine
Australian
624,000
Indian
1,032,000
Oth. countrs
144,000
....
..
..
.
Fri.
Wheat,
Exports from—
New York
Boston
ever,
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Mon. Tues. Wed. Thurs.
Standards..^
37 %
36% 37
37 %
N«. 2 white.
37
37%
38
37%
67,396
945,374
Fri.
98 hi
.99%
98
98%
98 %
98 %
in elevator.--.100 % 100% 100% 100% 100% 100 i
May delivery in elevator
-__106% 105% 105% 106
105
106
Vi
Sat.
Week 1909
534,679 3,873,627
599,563
940,227 392,548
Since Jan. 1 1909. 13,285,909 69,341,698 33,695,022 38,300,066 5282,238
Total
....
Com.
1909.
Since
July 1.
July 1.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
July 1.
Bushels.
1909.
Since
Since
30,123.000
77,392,000
42,936,000
17,400.000
11,224,000
18,152,000
3,198,000
1910.
Week
Oct. 22.
Since
699,000
43,099,000
76,000
71,888.000
9,152,000
85,000
12,208,000 3.689.000
3,284,000
5,588,000
2,675,000
44,825,000
20,199,000
2,300,000
5,510,000
6,773,000
44,517,000
73,287,000
59.100,000
}22,008,000
13856000 200.425,000 161,639,000 4,549,000
1194
THE CHRONICLE
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
Com.
United
United
Kingdom.
Continent.
Bushels.
Bushels.
Bushels.
Oct. 22 1910- 16.376.000 21,072,000
Oct. 15 1910— 16,024,000 24,648,000
Oct. 23 1909.. 13,200,000 17,280,000
Oct. 24 1908— 16,960,000 15,840,000
Oct. 26 1907- 15,800,000 15,440,000
Kingdom.
Total.
.
37,448.000
40.672,000
30,480,000
32,800,000
31,240,000
Bushels.
Continent.
Bushels.
Total.
Bushels.
7,922,000 14,782,000 22,704.000
8,041,000 14,416,00c 22,457,000
6,120,000 6,205,000 12.325.000
5,780,000 5,525.000 11,305.000
7,600,000 4,880,000 12,480,000
The visible supply of grain, comprising the
granary at principal points of accumulation at
seaboard ports Oct. 22 1910, was as follows:
stocks in
lake and
AMERICA N GRAIN !3TOCKS.
Wheat,
Com,
bush.
120,000
95,000
8,000
308,000
74,000
4,000
340,000
97,000
230,000
212,000
66,000
bush.
New York
_
Rnstnn
Baltimore
Kaw
.
Orleans
Buffalo
Toledo
Detroit
.
.
.
Dhlftago
_
Minneapolis
St. Louis..
Kansas City
Peoria
.
_
Milwaukee
Duluth
-
.
.
—
.
__
.
.
Indianapolis
:
.
—
On Lakes
On Canal and River..
.
.
2,351,000
87,000
466,000
952,000
3,000
140,000
2,017,000
1,533,000
371,000
6,400,000
190,000
4,673,000
9,659,000
2,190,000
4,350,000
13,000
579,000
1,489,000
515,000
44,000
233,000
212,000
27,000
284.000
544,000
98,000
Oats,
bush.
565,000
55,000
608,000
126,000
1,089,000
340,000
132,000
6,544,000
462,000
694,000
3,276.000
423,000
220,000
Barley,
50,000
99,000
1,000
12,000
7,000
580,000
bush.
23,000
14,000
2,000
62,000
185,000
6,000
42,000
1,462,000
355,000
15,000
1,748,000
83,000
115,000
309,000
1,000
2,996,000 16,989.000
3,796,000 17,886,000
3,360,000 12,747,000
CANADIAN GRAIN STOCKS.
421,000
406,000
619,000
2,848,000
2,956,000
3,987,000
Oats,
Rye,
bush.
Barley,
Total Oct. 22 1910. .37,978,000
{ Total Oct. 15 1910. .37,573,000
Total Oct. 23 1909. .25,650,000
Wheat,
Com,
35,000
308,000
*
brush.
bush.
bush.
630,000
5,011,000
3,133,000
1,641,000
97,000
576,000
Total Oct. 22 1910. .10,415,000
Total Oet. 15 1910.
9,545,000
Total Oet. 23 1909. .10,546,000
97,000
49,000
53,000
576,000
664,000
254,000
4,000
6,000
33,000
34,000
36,000
Oats,
Rye,
Barley,
Montreal
Fort William
Port Arthur
Other Canadian
.
.
.
.
.
Wheat,
SUMMARY.
Com,
bush.
33,000
bush.
bush.
bush.
bush.
bush.
.37,978,000
.10,415,000
2,996,000
97,000
16,989,000
576,000
421,000
2,848,000
33,000
Total Oct. 22 1910. .48,393,000
Total Oct. 15 1910. .47,118,000
Total Oct. 23 1909. .36,196,000
3,093,000
3,845,000
3,413,000
17,565,000
18,550,000
13,001,000
421,000
410,000
627,000
2,881,000
2,990,000
4,023,000
American
Canadian
!
Rye,
bush.
10,000
.
THE DRY GOoDSTRADE.
New York, Friday Night, Oct. 28 1910.
some directions sellers are
expressing disappointment
In
with the course of the market this week.
The demand has
not developed according to their
expectations, prices are not
better than they were a week ago, and there are occasional
instances where the full limits then held for have been
slightly receded from. As a matter of fact, the general
attitude of the trade shows some
hesitancy still prevailing.
The irregular action of the cotton market has an
unsettling
The demand for
heavy brown sheetings and drills on home
proved of fair extent, with the bulk of the
business doing for prompt and near-by shipment. The
export demand continues limited, sellers’ prices being too
high for exporters’ ideas. Some sales of duck for South
America are recorded, with a moderate home business done.
Denims, tickings, cheviots, plaids and other coarse, colored
cottons show a very firm tone
prevailing. Stocks in first
hands are light and production moderate, while the demand
coming forward is good enough to take full care of the
situation. Bleached cottons are also firm, with some of the
leading makes held at value; the demand, while not up to
the volume of two weeks
ago, is still satisfactory.
Staple
prints are in improving request, while the new lines of
subcounts disclose quieter conditions. Staple ginghams
are firm with the finer
grades of woven patterned dress
goods well sold for spring, some makers declining to guarantee
delivery on further orders. The auction sale referred to
above has affected the demand for cotton blankets in the
regular market. Other napped cottons have ruled quiet.
For print cloth yarn fabrics the demand has been
quieter
and some sellers have
madejconcessions of 1-16c., accepting
orders for delivery into next
February. 38J^-inch 64-
DOMESTIC COTTON GOODS.—The
exports of cotton
goods from this port for the week ending Oct. 22 were 8,248
packages, valued at $826,476; their destination being to the
points specified in the table below:
1910
WOOLEN
Since
New York to October 22—
Great Britain
Other Europe
CWna
India
Arabia
Africa
West Indies
Mexico
Central America
South America.
Other countries
.
.
...
.
.1,078
1,078
...
Total
Week.
is
18
48
337
868
.
261
1,227
.1,227
_
.
24
697
.1,213
1,213
.2,477
.2.477
—
.8,248
8,248
ti /•/)
Jan. 1.
1,617
770
57,388
12,603
12,496
6,041
24,404
1,617
10,793
37,956
39,535
205,220
The value of these New York
exports since
beenJH4,445,780Jn^l910,
Week.
45
16
250
678
870
60
304
541
400
3,164
Since
Jan. 1
1,534
889
160,941
14,281
24,024
13,550
33,645
GOODS.—Following the advances of 2%c.
to
further advance is now being
plain and fancy worsteds for men’s
wear by
leading makers and it is probable that other lines
will shortly even up.
The demand for worsted fabrics is
generally satisfactory, re-orders coming forward in consider¬
able 'quantities, the chief call
being for staple goods. In
all-wool makes the bulk of the business is
being done in
grades costing from $1 per yard upwards; these are generally
firm and from 2%c. to 5c. above
prices at which the season
opened. Low-gr&de woolens are in but indifferent request in
the majority of instances, with the
production of these still
curtailed.
Makers of overcoatings have not so far made
any movement towards showing their new lines.
Woolen
and worsted dressgoods continue slow and
unsatisfactory
to sellers, both in volume of trade
passing and in the prices
realized.
FOREIGN DRY GOODS.—The steady
upward move¬
ment in the prices of raw silk is having its effect
upon piece
silks and the tendency in the latter is toward a
higher range
of values.
A moderate business is reported in the better
grades of men’s wear goods, with dress goods generally
quiet. Linens are strong under the influence of foreign
advices and a fair demand.
Light-weight burlaps show
a slight advance on the week with
heavy-weights firm.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of
dry goods
at this port for the week
ending Oct. 22 1910 and since
Jan. 1 1910, and for the corresponding periods of last
year
were as
follows:
,-t ca
_•
o
(O 05
.
»
0^WH®
h
r1
AO 30 ON
c <o a
SO O tO N rt
SO W
rt N tf
© © n
N
O C
® O N co O
rl
rl
O OC
O* ®"
<C « Tf
o w CO N O
r*
e
Tf rf tT rrt
rl
lO O (O H
O (Ohh
N N r* t* to
"f rl K5NN
® © a« n
co*
00 Tf « ao
« *0 t* r* m
MO MO N
N
H O KJ
© cb r-© ■*»
•S
O
(
m
O
£ 1*3
M
ws
.© N
CO
n co co o co
N MO tf W
«
W
•
r- oo 06 to cb
.
aggS
lOrttf rtN
COacJNN
g
5
M
W
H
*
o
.
®
5
*h
HOfJbCO
to n if o n
co*
t**
©
oo*
e^oowflio
® O OC rt K5
H
W
O CO CO to
H
CO CNJ rf
y—i
▼rt
e
H
® rl C rt
«
NCOCONCM
II
O
h
>«»
w ao
5^
rtOrlOrl
•Cf 1-C <0 00 *5
fc
O
>-!
E-*
a.
£
O «D CvJ N Tf
N-tfOOtON
■
(3,
•
g
**
ft •Ktt.?
3 rlrt
^
® N to Tf
rtt
w
»a «e « n
fc
28
« Iga
o
o
fa
t«. -y «o tt co
•e co «i co
t- rrt P3 CD rl
feog
N
H
rifj
ft
H
«
H
Eh
&
1,387
11,464
42,760
17,058
CQ
321,533
O
fa
January 1 has
against $17,521,093 in 1909.
a
5c. per yard two weeks
ago, a
made of 23^c. per yard in
o
1909
Ci
quoted 5 5-16c. to 5%c., against 5%c. flat
squares are
week ago.
convinced that it is
next.
LXXXXI
account has
influence, and although the range of prices for raw material
keeps well above parity with the prices which cotton goods
are
bringing, buyers do not yet appear to be thoroughly
good business to proceed far ahead in
purchases on staple lines; hence the demand coming forward
during the past six days has been largely confined to supply¬
ing near requirements in such goods.
At the same time
manufacturers, although less reserved than they have
recently been, are by no means pressing for orders. Pro¬
duction is increasing in most lines, but still the
output in
some of the heavier
descriptions, particularly in the coarse,
colored division, is well below normal.
The Fall River
mills have largely
resumed, and it is in gray goods of the Fall
River order in which some price concessions have been
made;
.but apart from these the tone of the market can be
reported
generally, firm. Men's wear woolens and worsteds show a
good tone prevailing, with some further advances in prices.
The featureof the week’s business was an auction sale of
3,000
cases of cotton
blankets, and although prices brought did
not give full satisfaction to the
sellers, the trade generally
interpreted the result as a favorable one under prevailing
conditions.
An auction sale of carpets and
rugs to the value
of four million and a
quarter dollars will begin on Monday
[VOL.
S
Eh
«
£
t
gJ
of
'
g
iJiaji
3 > U OT fa 8
Ilf*si
£
£
£
3^
O W fa »
•
£
O0T. 29
THE CHRONICLE
1910.]
City
Swt
DwJWent.
News Items.
Oolorado.—Extra Session of Legislature Ends.—The Legis¬
lature of this State, which convened in special session on
Aug. 9 (V. 91, p. 165), adjourned on Oct. 18.
Denver, Colo.—Water Case Appealed.—We are informed
that an appeal has been taken to the U. S. Circuit Court of
Appeals from the order issued Sept. 5 by Judge Lewis of the
U. S. District Court restraining the sale of the $8,000,000
bonds voted Sept. 6 for the construction of a municipal water
plant. V. 91, p. 665. It is expected that the appeal will be
argued about Jan. 23 1911.
Pennsylvania.—Constitutional Amendment to Exclude from
Debt Limit Bonds Issued by Philadelphia for Subway Con¬
struction.—At the general election next month the voters of
this State will pass on a proposed amendment to Section 8
of Article 9 of the State constitution.
If adopted, this
amendment will allow the city of Philadelphia, in ascertain¬
.1195
offered by the city on July 21
tion $1,000.
Date April 1
Amarillo.
Amherst County
(V. 91, p. 287). Denomina¬
1910. Interest annually in
(P. O. Amherst), Va.—Bond Election.—
An election will be held Jan. 14 1911, it is stated, to vote
on the question of issuing $135,000 permanent road-improve¬
ment bonds.
Anderson, Madison County, Ind —Bond Sale.—The Harris
& Savings Bank of Chicago was recently awarded
$25,000 4% 10-year coupon tax-exempt school bonds.
Trust
Denomination 81.000.
the Anderson
Date Sept. 9 1910.
Banking Co. In Anderson.
Interest semi-annually at
Anderson County Common School District No.
—Bonds Registered.—An issue of $2,500 5%
(optional) bonds
was
October 14.
21, Texas.
10-20-year
registered by the State Comptroller
on
Asbury Park, Monmouth County, N. J.—Bond Election.—
on the question of
issuing the $150,000
4J^% 40-year beach-improvement bonds mentioned in V. 91,
p. 287, will be held Nov. 1.
Ashland School District (P. O. Ashland), Ashland County,
The election to vote
ing its borrowing capacity, to exclude such debt as may be Ohio.—Bonds Voted.—An election held Oct. 20 resulted in
incurred for the construction or development of subways favor of a proposition to issue $50,000 building bonds.
The
for transit purposes or for the construction of wharves or vote was 664 to 75.
docks owned or to be owned by the city and which produce
Aurora, Kane County, HI.—Bond Sale.—A. B. Leach &
revenue sufficient to pay the interest and principal of such
Co. of Chicago purchased $35,000 4^%
5^-year (average)
debt.
We print Section 8 below, italicizing the lines to be bonds on Oct. 14 at 100.57.
Denomination $500.
Date
added should the amendment receive the approval of the Nov. 1 1910.
voters.
Avoyelles Parish School District No. 35, La.—Bond Sale.
SECTION 8. The debt of any county, city, borough, township, school
—H. T. Holtz & Co. of Chicago have purchased $15,000 5%
district, or other municipality or incorporated district, except as herein
provided, shall never exceed seven per centum upon the assessed value coupon high-school-completion bonds.
of the taxable property therein, nor snail any such municipality or district
Incur any new debt, or Increase its Indebtedness to an amount exceeding
two per centum upon such assessed valuation of property, without the assent
of the electors thereof at a public election, in such manner as shall be pro¬
vided by law; but any city the debt of which now exceeds seven per centum
of such assessed valuation may be authorized by law to Increase the same
three per centum, in the aggregate at any one time, upon such valuation,
except that any debt or debts hereinafter incurred by the city and county of
Philadelphia for the construction and development of subways for transit
purposes, or for the construction of wharves and docks, or the reclamation of
land to be used in the construction of a system of wharves and docks, or public
improvements, owned
or to
be owned by said city and county of Philadelphia,
and which shall yield to the city and county of Philadelphia current net revenue
in excess of the interest on said debt or debts and of the annual installments
necessary for the cancellation of said debt or debts, may be excluded in ascer¬
taining the power of the city and county of Philadelphia to become otherwise
indebted: Provided, That a sinking fund for their cancellation shall be estab¬
lished and maintained.
Bond Proposals and Negotiations this week
have been as follows:
Ada, Pontotoc County, Okla.—Bond Election.—According
to reports, an election will be held in this city to vote on a
proposition to issue $100,000 water-works bonds.
Akron, Ohio.—Bond Sale.—The following bids were re¬
ceived on Oct. 25 for the nine issues of
bonds, aggre¬
gating $50,375, described in V. 91, p. 1113:
82.700
81,275
84.800
bonds.
bonds.
bonds.
TlUotson
Wolcott Co., Cleveland.-.82.720 33
New First Nat. Bank. Columbus
2,71100
Stacy & Braun, Toledo
2,714 40
Field, Longstreth A Co.. Cincinnati... 2,712 25
Otis A Hough, Cleveland
2,712 15
Hayden, Miller A Co.. Cleveland
11,285
1,280
1,277
1,281
1,281
1,279
2,710 25
07
00
00
00
00
75
C. E. Denison A Co., Cleveland
Davles-Bertram Co., Cincinnati
84,816
4,822
4,813
4,811
4,802
4,805
4,805
32
00
52
40
40
00
25
81Q.700
810,000
810.000
82,000
bonds.
bonds.
bonds.
bonds.
83,000
bonds.
83,003
3.006
3,001
3,001
3,000
3,002
90
00
00
00
00
50
3,004 50
85,900
bonds.
Dayton 8av. ATr. Co., Day
810,164 50
TUlotsonAWoioottCo.. Cte..810.809 67 10,132 60 810.190 00 82,022 64 85,991 80
New First Nat. Bk.,Colum. 10,830 00 10,155 00 10,112 00 2,014 00 6,002 00
8«&ey A Braun, Toledo
10,818 78 10,140 25 10,108 25 2,015 40 5,991 02
Field, Longstreth&Co., an. 10.803 00 10,126 00 10,075 00 2,015 00 5,974 00
Otis A Hough, Cleveland... 10,825 00 10,147 00 10,106 00 2,016 40 5,975 00
Hayden, Miller A Co., Cle.. 10,785 86 10.104 50 10,070 50 2.913 00 5.958 00
C. E. Denison A Co., Cle
10,809 15 10,133 75 10,091 75
5.975 00
Well. Both A Co., dndn.. 10,796 30 10,110 00 10,080 00
Davles-Bertram Co., Cln
10,822 00 10,143 00 10,101 00 2,000 00 5,988 50
Cent. 6av. * Tr. Co.. Akron
10.113 50
A bid ot 850.680 for “all or none" was also received from the Security Savings
Bank A Trust Co. of Toledo for the nine Issues.
These are not new issues, but bonds held by the Sinking
Fund as an investment.
Bonds Defeated.—An election held Oct. 25 resulted in the
defeat of a proposition to issue $750,000 bonds to build a new
water-works-plant to take the place of the one now operated
by the Akron Water-Works Co. The vote was 3,935 “for”
to 3,659 “against.”
Akron School District (P. O. Akron), Summit County,
Ohio.—Bond Sale.—The $55,000 4% school-completion and
equipment bonds offered on Oct. 4 and describee} in V. 91,
.s
S. B.
740.Raymond
have been
disposed
at par toas the
follows:
$25,000
to
andof$30,000
Second
of Akron
National
.
Bank of Akron.
The date of the bonds has been
changed
Maturity $30,000 Oct. 10
fyom Oct. 10 1910 to Oct. 4 1910.
192? apd $25,d00 Oct. 10 1929.
Albertville, Marshall County, Ala.—Bonds Not Sold.—Up
to Oct. 21 no award had been made of the $25,000 5% 30*
year water-works bonds (V. 91, p. 740), proposals for which
were asked until Sept. 20.
Alvbri!, Lyon County, Iowa.—iBonds Voted.—The proposition to issue the $4,000 water-works bonds, due part yeariy
from IQ to 20 years inclusive, was favorably voted upon on
Aug v 12.
Amarillo, Potter County, Texas .—Bonds Offered by Bank¬
ers.—The Harris Trust & Savings Bank of Chicago has pur¬
chased and is offering to investors the $75,000 5% 20-40-year
(optional) coupon bridge and street bonds, which were
Denomination 8500.
Date Sept. 1 1910. Interest semi-annually at the
Avoyelles Bank In Markesvllle. Maturity 81.000 yearly on Sept. 1 from
1916 to 1930 Inclusive, subject to call, however, after Sept. 1 1916.
Total
bonded debt, this Issue.
Assessed valuation. 8610,480. Actual valuation
(estimated). 83,600.000.
Baltimore, Md.—City Stock all Sold.—The city has suc¬
disposing of the unsold portion of the $2,400,000
4% stock offered with only partial success at public sale on
May 23. The City Register states that all of the stock was
sold at par and interest, with the exception of $721,500,
which was sold recently at 99% and interest.
See V. 91,
p. 1113.
Belle Center, Logan County, Ohio.—Bond Offering.—
Further details are at hand relative to the offering on Oct. 31
of the $2,500 5% gold coupon street-crossing bonds men¬
tioned in V. 91, p. 976.
Proposals will be received until
12 m. on that day by H. A. Sickles, Village Clerk.
ceeded in
Authority, Section 2835 Revised Statutes. Denomination 5500.
Date
Sept. 20 1910.
Interest semi-annually at the Belle Center Bank Co. Bonds
tax-exempt.
Maturity 8500 yearly on Sept. 20 from 1911 to 1915
inclusive.
Purchaser to pay accrued interest.
Bonded debt, Including
this issue, 310,475 69.
No floating debt.
Sinking fund 5715 51. Assessed
are
valuation 1910 5258.750.
Beliefontaine, Logan County, Ohio.—Bonds Authorized.—
passed, according to reports, provid¬
ing for the issuance of $75,300 5% sanitary-sewer-construction bonds.
Denominations $1,000, $500 and $300.
Belton, Bell County, Texas.—Bonds Voted.—The election
held Oct. 18 (V. 91, p. 817) resulted in favor of the question
of issuing the $11,000 5% water-works-improvement bonds.
Maturity 40 years, subject to call after 10 years.
Beverly, Essex County, Mass.—Description of Bonds.—We
are advised that the $10,000 4% 1-10-year (serial)
play¬
ground bonds awarded on Oct. 18 to Blodget & Co. of Bos¬
ton at 101.40 (V. 91, p. 1113) are in denominations of $1,000
each and are dated July 1 1910.
Interest semi-annual.
Bibb Independent School District, Texas.—Bonds Regis¬
tered.—An issue of $1,000 5% 5-10-year (optional) bonds was
registered on Oct. 17 by the State Comptroller.
.
y
No.
Big Horn County School District
10 (P. 6. Hyattville),
Wyo .—Bond Sale.—On Oct. 1 C. W. Burdeck purchased
$1,200 6% 11-year school-house bonds for $1,210 (100.833)
An ordinance has been
,,
and interest.
Denominations: 4 bonds of $100 each and 4
bonds of $200 each.
Date June 10 1910. Interest January
and July.
Blakely (P. O. Olyphant), Lackawanna County, Pa.—
10-year improvement
& Co. of Pittsburgh.
Denomination $1,000. Date Sept. 1 1910. Interest semi¬
Bond Sale.—-On Sept. 27 $9,000 5%
bonds were awarded to H. P. Taylor
annual.
Bloomington, McLean County, Ill.—Bond Offering.—Pro¬
posals were opened yesterday (Oct. 28) for $50,000 4% cou¬
pon water-improvement bonds.
Denomination 31.000.
the
me CityTreasurer’s
uiy ireasurer b omco.
office.
to usnt
Date Nov. 1 1909. Interest semi-annually at
jutun
Maturity 30 years.sublect to call after Nov. 1
last Installment of an fame of 3150.000 bonds,
Oct. *0 W» CV. 83. I*. 1*85) «*d 850.000 on
Theresnlt
of yesterday's offering was not known
Therein
the hour ofgoing to press.
,w
„
Brawley, Imperial County, Cal.-—Bond Sale.—On Oct. 3
the $13*000.0% coupon sewer bonds described in V* 91, p.
817, were awarded to the First National Bank in Brawley
at “par and accrued interest and' printed bonds.1' Maturity
part yeariy from lDl}^Jq 1§39ineniijuive.
Briarcliff Manor, Weste&elttt County, N.Y^Bond Offer¬
.
,
ing Postponed:—The offering of the $20,000 5-24-year (serial)
registered water-works bonds which was to have taken place
Oct. 26 (V. 91, p. 1048) has been indefinitely postponed.
Bristol, Va.—Bonds Not Sold.—Up to Oct. 19 no satisfac¬
tory bid had yet been received for the $60,000 5% water-
1196
i’HE CHRONICLE
system-extension bonds offered
V. 91, p. 817.
on
Sept. 27 and described in
Brockton, Plymouth County, Mass.—Bond Sale.—An is¬
of $17,500 4% water-construction bonds has, it is stated,
sue
been awarded to E. H. Rollins & Sons of Boston at 103.64.
Date Oct. 1 1910.
Maturity $1,500
from 1915 to 1930 inclusive.
in 1914 and $1,000 yearly
Brownsville, Cameron County, Tex.—Bond Sale.—Ulen,
$15,000 water¬
works and the $15,000 electric-light 5% 20-year bonds, regis¬
tered by the State Comptroller (V. 91, p. 740) on Sept. 1.
Date Sept. 1 1910.
Interest semi-annually in New York
City. Denomination $500.
Calhoun County (P. O. Rockwell City), Iowa.—Bond Sale.
—An issue of $150,000 5}4% 3-8-year (serial) drainage bonds
was disposed of on Oct. 5 to the Investors’ Securities Co. of
Des Moines at par.
Denomination $500. Date Oct. 1 1910.
Sutherlin & Co. of Chicago have purchased the
Interest semi-annual.
Calhoun County (P. O. Port Lavaca), Texas.—Bonds Regis¬
tered.—An issue of $44,000 5% 10-40-year (optional) Court¬
house bonds was registered by the State Comptroller on
Oct. 18.
Calhoun County Common School District No. 5, Texas.—
Bonds Registered.—The State Comptroller registered $4,000
5% 5-20-year (optional) bonds on Oct. 18.
Calhoun County Common School District No. 9, Texas.—
Bonds Registered.—On Oct. 18 the State Comptroller regis¬
tered $1,000 5% 5-10-year (optional) bonds.
Calhoun County Common School District No. 10, Tex.—
Bonds Registered.—The State Comptroller on Oct. 18 regis¬
tered $4,000 5% 5-20-year (optional) bonds.
Callaway, Custer County, Neb.—Bond Offering.—Pro¬
posals will be received until Nov. 1 for the $6,000 6% watermain-extension and improvement bonds mentioned in V. 91,
p. 740.
Authority, vote of 100 to 41
subject to call after 10 years.
on
Sept. 26 1910.
Maturity Nov. 1 1930,
Campbell, Franklin County, Neb.—Bond Offering.—W. B.
Hyden, Village Clerk, is offering at private sale $4,000 5%
coupon electric-light bonds.
(VOL
Chicago, Ill.—Bond Sale.—On Oct. 25 the $3,500,000 4%
gold city-hall-construction bonds offered on that day were
disposed of as follows: $350,000 to the Farwell Trust Co. of
Chicago at 98.878 and $3,150,000 at 98.3883 to a syndicate
composed of Wm. A. Read & Co., E. H. Rollins & Sons and
Wm. Salomon & Co., all of Chicago.
These bonds have
been sold subject to the approval of the voters at the elec¬
tion to be held Nov. 8.
See V. 91, p. 1048.
Maturity
$230,000 yearly on Jan. 1 from 1916 to 1929 inclusive and
$280,000 on Jan. 1 1930.
Christiansburg, Montgomery County, Va.—Bond Offering.—Proposals will be received until 8 p. m. Dec. 1 by E. S.
Hagan, Mayor, for $40,000 5% coupon water-works bonds.
Authority, Sections 1033 g and 1038 e Codes of 1904. Denomination
$500 or in larger amounts if so desired by the purchaser.
Date Jan. 1 1911.
Interest June and December at the Importers’ & Trader’s National Bank
in New York City.
Maturity 30 years, subject to call aftre 15 years.
Pro¬
posals for these bonds were asked for until May 31 1910 (V. 90,
p. 1253),
but we were never advised as to the result of that
offering.
Cincinnati, Ohio.—Bond
Sale.—On Oct. 24 the $150,000
(optional) coupon water-works-extension
bonds described in V. 91, p. 817, were sold to the Union Sav¬
ings Bank & Trust Co. and Seasongood & Mayer, both of Cindinnati, at their joint bid of 101.287—a basis of about 3.907%
to the optional date and about
3.937% to full maturity.
The following proposals were submitted:
4%
20-40-year
.
Union Savings Bank & Trust Co. and
Seasongood & Mayer, Cin_$151,930 50
Western-German Bank, Cincinnati
151,801 65
Fifth-Third National Bank, Cincinnati
151,710 00
Breed & Harrison, Cincinnati
151,510 00
Brighton-German Bank, Cincinnati-151,425 00
German National Bank, Provident
Savings Bank & Trust Co.,
Davies-Bertram Co. and Weil, Roth & Co., Cincinnati
151,245 00
E. H. Rollins & Sons, Chicago
150,825 00
New First National Bank, Columbus150,615 00
Central Trust & Safe Deposit Co., Cincinnati
150,375 00
Atlas National Bank,
Cincinnati
150,100 00
_
_
Cleveland, Ohio.—Bond Sale.—On Oct. 24 the $188,000
sewer-construction (city’s portion), the $100,000
street-pav¬
ing (city’s portion) and the $90,000 fire-department 4.10%
20-year coupon bonds described in V. 91, p. 818, were
awarded, the first two issues to Hayden, Miller & Co. of
Cleveland at 101.132 and 101.09 respectively and the
$90,000
bonds to Borton & Borton of Cleveland at 101.151.
of the bids submitted follows:
Cannon Falls School District (P. O. Cannon Falls), Goodhue County, Minn.—Bond Sale.—The State of Minnesota
has been awarded the $30,000 4%
school-building bonds
voted
(V. 91,
740)
Aug. 30. The price paid was par.
Interest annually on July 1.
Canonsburg, Washington County, Pa.—Bond Election.—
A proposition to issue $14,000 park bonds will be submitted
to a vote of the people on Nov. 8.
Carbon County (P. O. Red Lodge), Mont.—Bond Sale.—
On Oct. 18 the $40,000 20-year coupon funding
bridge bonds
described in V. 91, p. 976, were awarded to
Woodin, McNear
& Moore of Chicago at 105.31 and accrued interest for 5s—
a basis of about
4.567%. The bids received were as follows:
p.
on
Denomination $1,000.
A list
“
Denomination $500.
Date Aug. 1 1910.
Interest Jan. 1 and July 1
in New York City.
Maturity 10 years, subject to call after 5 years. Cer¬
tified check for 10% of bid, payable to B. B. Helmick, Village Treasurer,
is required.
Bonded debt, including this issue, $9,000.
No floating debt.
Assessed valuation 1910, $108,511 50.
LXXXXI
Hayden, Miller & Co., Cleveland
Borton & Borton, Cleveland
$90,000
$100,000
$188,000
bonds.
bonds.
bonds.
$90,980
91,036
Cleveland Trust Co., Cleveland
90,963
New First National Bank, Columbus.
90,877
Tillotson & Wolcott Co.\Cleveland
90,815
Otis & Hough
/
Stacy & Braun, Toledo
90,765
C. E. Denison & Co., Cleveland
90.761
Western German Bank, Cincinnati.90,551
..
00 $101,090 00 $190,130 00
00
00
101,070 00
190,011 60
00
100,979 00
189,827 00
00
100,905 50
189,701 00
84
75
00
100,626 75
100,561 00
189,589 75
188,961 00
Clyde, Sandusky County, Ohio.—Bond Sale.—The three
issues of bonds described in V. 91, p. 976, were
disposed of
as follows on Oct. 24:
$3,300 43^% water-works-extension
bonds due $500 yearly on Sept. 1 from 1918 to 1923 inclu¬
sive and $300 on Sept. 1 1924, awarded to the
Croghan Bank
& Savings Co. of Fremont for $3,327 50
(100.863), and the
$12,800 assessment and $2,700 (village’s portion) 5% 1-10year (serial) street-improvement bonds sold to People’s
Banking Co. and the Clyde Savings Bank Co., both of Clyde,
at their joint bids of 102.75 and 102.74
respectively.
Woodin,McNear&Moore,Chic$42,124 | Seasongood & Mayer, Cincin.$41,050
Coburg
School
No.
District
43
(P. O. Coburg), Lane
Harris Tr. & Sav. Bank, Chic. 42,033 Wells & Dickey Co., Minn
41,040
Wm. R. Compton Co.,JSt. L_ 41,960 Finley, Barrell & Co., Chic..
County, Ore.—Bonds Not Sold.—No award has yet been
41,028
E. H. Rollins & Sons, Denver 41,636 Thos. J. Bolger Co.,
made of the $18,950 5% 10-20-year (optional) bonds offered
Chicago 40,810
A. B. Leach & Co., Chicago__ 41,508 Union Invest. Co.,
Minneap.
40,800
(V. 91, p. 540) on Sept. 1. Only one bid was received.
N. W. Halsey & Co., Chicago 41,436 C. H. Coffin,
Chicago
40,401
McCoy & Co., Chicago
41,205 S. A. Kean & Co., Chicago._ 40,260
Proposals for these bonds will be received at any time.
Weil, Roth & Co., Cincin
41,111 John Nuveen & Co., Chicago 40,000
Cochise County School District No. 45, Ariz.—No Bonds
Champaign County (P. O. Urbana), Ohio.—Bond Sale.— Offered.—We
are advised that there is no truth in the re¬
On Oct. 20 the $13,080 4% coupon ditch bonds described in
ports
that
this
district would receive proposals until Oct. 1
V. 91, p. 1048, were awarded to A. F. Vance
Jr., Vice-Presi¬ for $2,500 7% school-building bonds. See V. 91,
p. 818.
dent of the National Bank of Urbana, in
Urbana, at 100.225.
The bids received were as follows:
Coffeyville, Montgomery County, Kan.—Bond Election
A. F. Vance Jr., Urbana..$13,109 50|G. W. McCracken
Proposed.—According to Topeka papers, Eastern capitalists
.$13,109 00
Maturity part on April 20 and on Oct. 20 in the years 1911,1912 and 1913.
are anxious for this city to hold an election for the
purpose
Chambers County Common School District No.
19, Texas. of presenting to the voters a proposition to issue $15,000
—Bonds Registered.—The State
Comptroller registered on bonds to be used in building an electric interurban line to
Oct. 21 an issue of $3,500 5% 10-40-year
run between this city and
Nowata, Okla.
(optional) bonds.
Chatham, Pittsylvania County, Va —Bonds Not Sold.—No
Conroe Independent School District, Texas.—Bonds
award has yet been made of the
$10,000 5% 30-year coupon Voted.—An election held Oct. 19 resulted, it is stated, in
street and school bonds which E. S. Reid of the Finance Com¬ favor of a
proposition to issue $25,000 school-building bonds.
mittee has been offering at private sale.
The vote was 111 “for" to 5 “against."
See V. 91, p. 741.
Checotah, McIntosh County, Okla.—Bond Offering.—Pro¬
Council Bluffs, Pottawattamie County, la.—Bonds Pro¬
posals will be received until 8 p. m. Nov. 1 by Ben Huddles¬ posed.—Reports state that this city is considering the issu¬
ton, City Clerk, for $40,000 6% 25-year sewer bonds. Cer¬ ance of about $20,000 fire-house bonds.
tified check for 5% of bid is required.
Covington County (P. O. Collins), Miss.—Bond Offering.—
Chehalis County School District No. 9, Wash.—Bond
Of¬ According to reports, proposals will be received for $25,000
fering.—Proposals will be received until 1 p. m. Nov. 5 by Road District No. 3 bonds.
G. J. Taylor, County Treasurer (P. O.
Montesano) for $2,000
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Sale.—
bonds at not exceeding 6% interest.
Otis & Hough of Cleveland have been awarded the $59,000
Denomination $500.
Interest semi-annual.
Maturity 3 years, subject
to call after 1 year.
4% coupon bonds to improve Parma and Royalton Centre
Certified check for 2% of bonds bid for is
required.
Chenango, Broome County, N. Y.—Bond Offering.—Pro¬ Ridge Road No. 3, offered on Oct. 26 and described in V. 91,
posals will be received until Nov. 4 by John H. Thomas, p. 976, at par and accrued interest. There were no other
Supervisor, care of County Treasurer (P. O. Binghamton), bidders.
Maturity $1,000 on April 1 1911, $3,000 each six months from Oct. 1 1911
for $9,000 4^% registered
to Oct. 1 1919 inclusive, $3,000 on April 1 1920 and $4,000 on Oct. 1 1920.
bridge-construction bonds.
Denomination $500.
Interest annually on March 1 at County Treasurer’s
Dale School District (P. O. Johnstown), Cambria County,
office.
Maturity $2,000 yearly on March 1 from 1914 to 1917 inclusive
and $1,000 March 1 1918.
Certified check for 10% of bid is required.
Pa.—Bond Election.—A proposition to issue $10,000 school¬
Bonds will be ready for
delivery on Nov. 7.
building bonds will be
according to reports, to the
Cherryvale, Montgomery County, Kan.—Bonds Defeated. voters at the general submitted,
election Nov 8. It is further stated
—An election held Oct. 12
resulted in the defeat of a propo¬
sition to issue $105,000 bonds.
The vote was 353 “for" to
378 “against."
that these
are
the
same
bonds awarded
on
June 7 to the
Washington Investment Co. of Pittsburgh (Y. 90, p. 1693),
but were refused by them on the ground that the whole
Got. 29
1910.]
119?
THE CHRONICLE
proceedings were illegal because the School Board failed to
pass a preliminary resolution in the matter.
Dalton, Whitfield County, Ga.—Bond Sale.—On Oct. 3
$5,000 fire-station, $25,000 school, $20,000 electric-light,
$30,000 water, $20,000 sewer and $25,000 paving 5% bonds
were awarded at private sale to the Robinson-Humphrey
Co. of Atlanta.
Date July 1 1910.
Interest semi-annual. Ma¬
turity $20,000 July 1 1915 and $21,000 July 1 In each of the years 1920,
1925, 1930, 1935 and 1940.
These bonds were offered but not sold on
Aug. 10 (V. 91. p. 601).
Denomination $1,000.
O. Nashville), Tenn.—Bonds Not to
Judge advises us that the
$150,000 4% 30-year State Fair bonds recently authorized
(V. 91, p. 1048), “will be issued and placed with the Nashville
Trust Co., to be held in trust subject to the order of the
Quarterly County Court.”
Davidson County (P.
Be Issued at Present.—The County
School District (P. O. Forreston),
Offering.—This district is offering
at private sale the $11,000 5% 10-40-year (optional) bonds
registered by the State Comptroller (V. 91, p. 742) on Sept. 7.
Denomination $500.
Date Sept. 1 1910. Interest semi¬
Forreston Independent
Ellis County, Tex.—Bond
annual.
Tex.—Bonds Not Sold.—Up to Oct. 24 no
been made of the $100,000 4^% 20-40-year
(optional) school-building bonds described in V. 91, p. 742.
Galesburg, Knox County, Ill.—Bonds Refused.—Local
papers state that the $25,000 43^% water-works-improve¬
Fort Worth,
award had yet
ment bonds awarded
on
Oct. 3 to A. B. Leach & Co. of Chi¬
basis of 4.15% (V. 91, p. 1049) have been refused
by them. These bonds are part of an issue of $75,000 4s
authorized by the voters last April, and after failing to sell
them at this rate the City Council passed a resolution in¬
“The purchase of the fair grounds Is made on condition that the next
creasing the interest to 4^%, which action was held to be
session of the Legislature, which convenes In January 1911, shall take over
this property for the State and make appropriations commensurate with
illegal by the Chicago company. The reports further state
the needs to conduct the Fair on a plane in keeping with the dignity of the
that the entire issue of $75,000 will again be submitted to
State.
Hence the above requirement that the bonds shall be placed in
the voters at the general election Nov. 8 as 43^s.
trust to await the action of the Legislature.”
Georgetown, Williamson County, Tex.—Bonds Voted—
Dawson, Navarro County, Tex.—Description of Bonds.—
We are advised that the $8,000 20-40-year water-works Bond Offering.—The propositions to issue the $32,000 water¬
bonds voted on Sept. 23 (V. 91, p. 896) are coupon in form works and the $13,000 light 5% 10-40-year (optional) bonds
and carry interest at the rate of 5%,payable semi-annually mentioned in V. 91, p. 819, carried by a vote of 216 to 24 at
in Dawson.
the election held Oct. 17.
Interest semi-annual.
Proposals
Denomination $500.
Date Dec. 1 1910. This city has no
Assessed valuation for 1910, $300,000.
debt at pres¬
ent.
Decatur, Macon County, Ill.—Bond Sale.—The. $75,000
4% coupon electric-light-system bonds, bids for which were
rejected on Sept. 28 (V. 91, p. 896), have been purchased by
the Harris Trust & Savings Bank of Chicago.
1910.
Interest semi-annually at
<• Maturity on Oct. 1
as follows:
$40,000 In 1920, $3,000 yearly from 1921 to 1929 Inclusive and $8,000 in
Denomination $1,000.
Date Oct. 1
the City Treasurer's office In Decatur.
1930.
Delaware County (P. O. Delaware), Ohio.—Bond Sale.—
On Oct. 24 the $77,860 4^% road-improvement bonds de¬
scribed in V. 91, p. 977, were awarded to the Delaware Na¬
tional Bank in Delaware at 101.934 and accrued interest.
The bids received were as follows:
Delaware Nat. Bank, Delaw.$79,366 Seasongood & Mayer, Cincin.$79,300
New First Nat. Bk., Colum__ 79,365 Breed & Harrison, Cincinnati 79,250
Delaware Sav. Bk. Co., Dela. 79,360 Well, Roth & Co., Clncln
79,145
Maturity $3,893 each six months from March 1 1911 to Sept.
1 1920 incl
County, Texas.—Bonds Voted.—This
city, according to reports, has voted to issue city-hall¬
building bonds.
DuBois County (P. O. Jasper), Ind.—Bid.—According to
reports, a bid of par has been received from Miller, Adams
& Co. of Indianapolis for the $26,200 43^% Harbison Town¬
ship rock-road bonds offered on Sept. 10 and described in
V. 91, p. 601.
Dunklin County School District No. 2, Mo.—Bonds Of¬
fered by Bankers.—In their circular for November, Farson,
Son & Co. of Chicago are offering to investors $54,000 6%
De Leon, Comanche
bonds.
Date June 1 1910. Interest semi-annual.
June l from 1914 to 1930 Inclusive.
Denomination $500.
turity part yearly on
Ma¬
Easley, Pickins County, So. Caro.—Interest Bate.—We are
water
cago on a
for these bonds will be received until Dec. 1.
Geneva, Ontario County, N. Y.—Bonds Voted.—Proposi¬
tions to issue the following
at an election held Oct. 18:
for pumps, $30,000 for a
bonds were favorably voted upon
$57,000 for a water main, $35,000
reservoir and two issues, one of
$4,000 and one of $4,500, for the general fund. We are in¬
formed that, in all probability, the bonds will not be issued
until April 1 1912.
Bonds Defeated.—At the same election the voters defeated
a proposition to issue bonds for a filtration plant.
Gila County School District No. 26, Ariz.—Bond Offering.
—Proposals will be received until 10 a. m. Nov. 5 by Frank
L. Gates, Clerk Board of Supervisors (P. O. Globe), for
$7,000 7% bonds. Denomination $100. Maturity “on or
before 20 years/'
Girard, Trumbull County, Ohio.—Bond Sale.—Farson,
Son & Co. of Chicago have been awarded, according to re¬
ports, the $10,000 5% sidewalk assessment bonds offered
on Oct. 24 and described in V. 91, p. 819, at 102.76.
Matur¬
ity $1,000 each six months from March 1 1912 to Sept. 1
1916 inclusive.
Gloucester, Essex County, Mass.—Bond Offering.—Pro¬
posals were asked for until 4 p. m. yesterday (Oct. 28) by
Edward Dolliver, City Treasurer, for $30,000 4% coupon
bonds.
Denomination 31,000.
Date Nov. 1 1910.
Interest semi-annually at
the First National Bank In Boston.
Maturity $3,000 yearly on Nov. 1
from 1911 to 1920 Inclusive.
These bonds will be certified as to their
genuineness by the Old Colony Trust Co. In Boston, which will also certify
that the legality of the Issue has been approved by Ropes, Gray & Gorham,
of Boston, a copy of whose opinion will be furnished without charge to the
purchaser. The result of this offering was not known to us at the hour of
going to press.
advised that Jthe $29,500 20-40-year (optional) coupon
and light bonds sold on Sept. 21 to Ulen, Sutherlin &
Greeley School District No. 6 (P. O. Greeley), Weld
Co. of County, Colo.—Bond Offering.—Proposals will be received
Chicago for $29,700 (100.677) carry interest at the rate of on or before Oct. 31 by Grace N. Allen, Secretary, for $62,000
and not 5% as at first reported.
5% gold school bonds voted July 28 (V. 91, p. 352).
Denomination $500.
Date Oct. 1 1910.
Interest semi-annually in
East Cleveland, Cuyahoga County, Ohio.—Bonds Author¬
New York City at the office of Eountze Bros.
Maturity 15 years. Certi¬
ized.—An ordinance authorizing the issuance of $6,000 bonds fied check for $500 is required. Official circular states that there Is no
controversy or litigation pending or threatened which would affect the
to be used in purchasing certain land for city purposes passed
of the bonds; no previous issue of bonds has been contested, and
its third and final reading at the meeting of the City Council validity
principal and Interest on all bonds previously Issued have been paid at
on
Oct. 19.
Paso, El Paso County, Tex.—Bonds Registered.—The
$375,000 5% 20-40-year (optional) bonds turned over to the
International Water Works Co. in part payment for its plant
(V. 91, p. 666) were registered on Oct. 18 by the State Comp¬
El
troller.
maturity.
Greenwich,
Huron
election held Oct.
County,
Ohio.—Bonds
Voted,—An
of a
15 resulted in favor, it is stated,
proposition to issue $20,000 school-building bonds.
vote
was
97 to 17.
The
Grove City, Meeker County, Minn.—Bond Sale.—On
Oct. 4 an issue of $5,000 6% fire-station bonds was awarded
to the Merchants' & Farmers' State Bank in Grove City
O. Colorado Springs), Colo.—Bond
state that the question of issuing
$110,000 road-improvement bonds will be submitted to a at par.
Denomination $500.
Date Oct. 4 1910. Interest annual.
Maturity
vote of the people at the November election.
Oct. 4 1920, subject to call “on or before 10 years.”
Euclid, Cuyahoga County, Ohio.—Bond Sale.—On Oct. 24
Guthrie Graded Common School District (P. O. Guthrie),
the $1,987 4^% coupon Crosby Avenue improvement assess¬ Todd
County, Ky.—Bond Sale.—Chas. S. Kidder & Co. of
ment bonds described in V. 91, p. 819, were sold to Hayden,
Chicago were the successful bidders on Oct. 20 for the $9,000
Miller & Co. of Cleveland for $2,015 (101.409) and accrued
5% 20-year coupon building and improvement bonds de¬
interest.
A bid of $2,009 68 was also received from Stacy & scribed in V.
91, p. 819.
Braun of Toledo.
Maturity $487 Oct. 1 1913 and $500 on
Hamilton, Ohio.—Bond Sale.—On Oct. 21 the $4,903
Oct. 1 in each of the years 1916, 1918 and 1920.
North E St. and $4,404 90 Mason Ave. 4J^% assessment
Farmdale School District, Los Angeles County, Cal.—
improvement bonds described in V. 91, p. 897, were awarded
Bond Sale.—James H. Adams & Co. of Los Angeles are to the Provident
Savings Bank & Trust Co. in Cincinnati at
reported as being the successful bidders on Oct. 17 for the 101.33 and accrued interest. The bids received were as
$15,000 5% 1-15-year (serial) bonds offered on that day.
follows:
Flatonia, Fayette County, Tex.—Description of Bonds.— Prov. S. Bk. & Tr. Co.,Cin.$9,431 701 Security S.Bk.& Tr.Co.,Tol$9,404 90
9,408 08 (Seasongood & Mayer, Cin__ 9,368 00
We are advised that the $12,500 school-building bonds voted Breed & Harrison, Cin
Maturity one-tenth of each Issue yearly from 1911 to 1920 inclusive.
on Sept. 20 (V. 91, p. 896) carry 5% interest and mature in
Hammond, Piatt County, Ind.—Bond Sale.—On Oct. 6
40 years, but are subject to call after 10 years.
$70,000 4J^% funding bonds were awarded to J. T. Elliott
Floydada Independent School District (P. O. Floydada), & Sons of Indianapolis for $71,766 50, the price thus being
Floyd County, Tex.—Bond Offering.—Proposals will be 102.523.
received at any time for the $20,000 5% school-building bonds
Denomination $1,000.
Interest June 1 and Dec. 1.
Date Oct. 1 1910.
voted on May 31 and described in V. 91, p. 602.
They are Maturity $7,000 yearly on June 1 from 1912 to 1921 Inclusive
in denominations of $500 each and are dated July 20 1910.
Hastings, Jefferson County, Okla.—Bond Offering Post¬
Interest annual.
Maturity July 20 1950, subject to call poned.—Owing to the lack of a quorum, due to the fact that
after July 20 1915.
Arthur B. Duncan is President of the part of the Council were serving on the Grand Jury, the of¬
School Board.
fering of $30,000 6% 25-year coupon tax-free water-works
&
’
.
El Paso County (P.
Election.—Local papers
1198
THE CHRONICLE
[VOL.
LXXXXI
bonds which was to have taken place Oct. 24
Josephine County School District No. 24, Ore.—Bonds
(V. 91, p. 1049),
was postponed until Nov. 7.
Not Sold.—No sale has
yet been made of the $10,000 5%
Helena School District No. 1 (P. O. Helena), Lewis and 20-year school-building and furnishing bonds offered
(V. 91,
Clark County, Mont.—Bonds Not Yet
Sold.—Up to Oct. 22 p. 820) on Oct. 3.
no award had
Kansas City, Kan.—Bonds Offered
yet been made of the $50,000 4>£% 10-20-year
by Bankers.—The fol¬
(optional) coupon school bonds offered without success lowing 5% general-improvement bonds are
being offered to
(V. 91, p. 666) on Aug. 20.
investors by the Thos. J. Bolger Co. of
Chicago:
Hemphill County Common School Districts No. 1 and 2, $19,629 bonds. Denominations $500 and $129. Date Oct. 15 1910. Ma¬
turity $1,629 on Aug. 1 1911 and $2,000 yearly on
Tex.—Bond Sale.—The following 5% bonds
Aug. 1 from
1912 to 1920 Inclusive.
registered by
the State Comptroller on Aug.
49,235 bonds. Denominations $500 and $235. Date
15 1910.
^0 (V. 91, p. 743) were sold
Maturity $4,235 on Aug. 1 1911 and $5,000 yearly Sept.
on Aug. 1 from
during September to H. N. Swain of Dallas at par: $4,000
1912 to 1920. Inclusive.
due July 1 1930 and $8,000 due July 1 1950.
Interest semi-annually on Feb. 1 and Aug. 1 at the
Denomination office.
State Treasurer's
$500.
Date July 1 1910.
Interest annually on April 12.
Kansas City Park District (P. O. Kansas
Henry County (P. O. Napoleon), Ohio.—Bond Sale.— Bonds
City), Kan.—
Authorized.—This district, according to local
Road improvement bonds amounting to
papers,
$98,500 and carry¬ has authorized the issuance of
$95,000 bonds.
ing 4^2% interest have been awarded, it is stated, to the
New First National Bank of Columbus for
Keithsburg Drainage District, Mercer County, HI.—
$100,331—the Bonds
Offered by Bankers.—Farson, Son & Co. of Chicago
price thus being 101.858.
are
offering to investors $47,189 25 6% drainage bonds.
Highland Park, Lake County, Ill.—Bond Sale.—On
Denomination $500,
one bond of $689 25.
Oct. 4 an issue of $7,500 43^% 10-year
Date Aug. 1 1910.
refunding bonds was Interest semi-annual. except
Maturity part yearly on Aug. 1 from 1912 to 1928
awarded to the Harris Trust &Inclusive.
Savings Bank of Chicago at
par and accrued interest.
Denomination $500. Interest
Kenton, Hardin County, Ohio.—Bond Sale.—This
city,
semi-annual.
it is stated, has awarded an issue
of $2,000 43^%
publicHighland Park, Wayne County, Mich.—Bond Sale.—The safety bonds to the Commercial Bank of Kenton.
$31,000 3^% water bonds voted on Sept. 1 (V. 91, p. 743)
Kersey, Weld County, Colo.—Bonds
have been disposed of at private sale to H. W. Noble &
Voted.—According to
Co. reports an election held recently resulted
in favor of a
and the Security Trust Co., both of
sition
to
Detroit.
issue $1,000 high-school bonds. The vote ispropo¬
given
Hillman Township School District (P. O.
Hillman), Mont¬ as 25 “for” to 8 “against.”
gomery County, Mich.—Bond Sale.—Ulen, Sutherlin & Co.
Kinney County (P. O. Brackettville), Tex.—Bonds
of Chicago have purchased
Offered
$12,000 5% 1-15-year (serial) by Bankers.—An issue of $44,500 6% Court-house bonds
is
coupon school-building bonds.
Denomination $800. Date being offered to investors
by Farson, Son & Co. of Chicago.
Oct. 1 1910.
Denomination $500.
Hillsboro
Date July
1
1910.
Interest semi-annual.
Ma¬
turity part yearly on Jan. 1 from 1911 to 1915 Inclusive.
County (P. O. Tampa), Fla.—Bond Sale.—An Issue.
Total debt, this
Assessed valuation, $4,874,606.
Real value (rat.), $10,000,000.
issue of $80,000 5% 2-9-year
(serial) school bonds has been
purchased by Ulen,Sutherlin & Co. of Chicago. Denomina¬ anLexington, Fayette County, Ky.—Bond Sale.—On Oct. 7
issue of $51,060 14 6%
tion $1,000.
street-improvement assessment
Date July 1 1910.
bonds was awarded to C. C. Miller & Co. at
par and accrued
Houston County Common School
District, Tex.—Bond interest.
Sale.—The $4,000 5% 2-20-year
(optional) bonds registered
Denomination $500,
one bond In odd amount.
Date Aug. 20
by the State Comptroller on Aug. 18 (V. 91, p. 602) have 1910. Interest Januaryexcept
and July.
been sold to the Houston
County Permanent School Fund.
Lexington County School district No. 29, So. Caro.—
Huron County (P. O. Norwalk), Ohio.—Bond
Sale.—On Bond Sale.—The $10,000 6% coupon school-building bonds
Oct. 6 the $24,344 71 43^%
coupon ditch-improvement- offered on Sept. 30 and described in V. 91, p. 820, have been
assessment bonds described in V.
91, p. 820, were sold to sold to Ulen, Sutherlin & Co. of Chicago. The bonds are in
C. E. Denison & Co. of Cleveland at 102.07 and
interest. denomination of $1,000 each and mature $1,000 yearly from
1921 to
1930 inclusive.
Maturity $1,344 71 on April 1 1911 and $1,000 each six
months from
Oct. 1 1911 to Oct. 1 1921 Inclusive and
$2,000 on April 1 1922.
Liberty County Common School District No. 7, Texas.—
Registered.—On Oct. 21 the State Comptroller regis¬
tered $1,000 5% 10-20-year
(optional) bonds.
Lock Haven, Clinton County, Pa.—Bond
Offering.—Pro¬
posals will be received until Nov. 1 by Frank E. Harder, City
Treasurer, or Ira M. Harvey, Chairman Finance Committee,
for $15,000 33^%
coupon refunding bonds.
Iowa City, Johnson
County, Iowa.—Bond Sale.—On
Oct. 14 an issue of $12,000
5% funding bonds was awarded
to Geo. M. Bechtel & Co. of
Davenport for $12,500—the
price thus being 104.166.
Denomination $1,000.
Iredell
County,
Date Oct. 1 1910.
Interest June and December.
Independent School District (P. O. Iredell), Bosque
Tex.—Bonds
date of Oct. 24 that
Not Sold.—We
no
sale has yet
are
informed under
been made of the $7,000
5% 10-40-year (optional) bonds described in V.
91, p. 743.
Jackson, Madison County, Tenn.—Bonds Voted.—An
election held Oct. 10 resulted in favor of a
issue $75,000 railway-aid bonds. The vote proposition to
was 897 “for”
to 177 “against.”
Jackson County (P. O'.
Gainesboro), Tenn.—No Bonds
Yet Issued.—In reply to our
inquiry as to whether or not
the reports were true that the voters
recently authorized
the issuance of $75,000 railroad-aid
bonds, the Clerk of the
County Court writes us under date of Oct. 24 that no bonds
have been issued as yet.
Jacksonville, Jackson County, Ore.—Description of Bonds.
—We are advised that the
$30,000 gravity-water-system
bonds recently awarded to
Ulen, Sutherlin & Co. of Chicago
(V. 91, p. 1115) carry 6% interest and are dated Oct. 1 1910.
Denomination $500. Maturity Oct.,1 1930.
Jamestown, Chautauqua County, N. Y —Bond
Proposals will be received until 8 p. m. Nov. 4Offering.—
Jason
Parker, Secretary of Hospital Commission, for by$40,000
43^% registered furnishing bonds.
Denomination $1,000.
turlty 20
yean.
Interest Jan. 1 and July 1 In Jamestown,
No deposit Is required with bid.
Ma
Jasper, Pipestone County, Minn.—Bond Sale.—The State
recently purchased $8,500 4% gas bonds.
Jeff Davis County (P. O. Fort
Davis), Tex.—Bonds
Offered by Bankers.—Farson, Son & Co. of
Chicago are
offering to investors $31,500 6% court-house bonds.
of Minnesota
Denomination $500. Date Aug. 15 1910.
turlty part yearly on Jan. 1 from 1913 to 1919'Interest semi-annual. \ il
inclusive. Total aebt, 1
eluding this Issue, $53,000. Assessed
valuation, $3,734,652. Real val
(estimated) $7,500,000.
*
*
,.
Jefferson
„
.
..
County (P. O. Port Tow*f*n4), Wash.—Bond
Offering—Proposals
will be received until l2 m. Nov. 2
by
Harry A. Hart, County Treasurer, for $133,000
gold
coupon
refunding bonds at not exceeding 6% interest.
Denomination $1,000.
Date Jan.
1
1911.
Interest semi-annually a
In New York City.
Maturity
1921, $35,000 Jan. M926 ant
Jan. 1 1931.
Certified check on a bank In Port
Townsend o
Seattle for $1,000, payable to the
County Treasurer, Is required.
..
the fiscal agency of the State
of
§30.000
$38,000
Jan- 1 ,n the
Washington
years 1816 and
Jefferson School District, Los
Angeles County, Cal.—
Bond Election.—It is stated
to vote on the
question of
bonds.
Bonds
an
election will be held Nov. 12
issuing $10,000 5% school-building
Denomination $1,000.
Denominations $500 and $100.
Date Nov. 1 1910.
Interest semi-an¬
nually at the City Treasurer's office. Maturity 20 years,
subject to call
after 10 years.
Bonds are exempt from all taxes
No deposit is required
with bid
Lorain, Lorain County, Ohio.—Bond Offering.—Proposals
m. Nov. 23
by E. P. Keating, City
Auditor, for $21,500 43^% coupon sanitary-sewer bonds.
will be received until 12
Authority Section 3914, General Code.
Denomination $500.
Date
Oct. 15 1910.
Interest March 15 and Sept. 15 at the Sinking Fund Trustee’s
.office.
Maturity $1,000 yearly on March 15 and $1,500 yearly on
Sept.
15
from 1912 to 1916 inclusive, $1,000 each six months from
March 15 1917 to
Sept. 15 1920 inclusive and $1,000 Sept. 21 1921. Certified check on a
national bank for $1,000, payable to the
City Treasurer, Is required.
Lucas County (P. O. Chariton), Iowa.—Bond Sale.—This
county has awarded $22,000 43^% coupon bridge bonds to
the Harris Trust & Savings Bank of
Chicago.
Denomination $500.
Date Nov. 1 1910. Interest semi-annually at
the County Treasurer’s office.
Maturity $5,000 on Nov. 1 In each of the
years 1917, 1918 and 1919 and $7,000 on Nov. 1 1920.
Total debt. In¬
cluding this Issue, $63,000. Assessed valuation for taxation, $15,024,724.
•
Lucas County (P. O. Toledo), Ohio.—Bond Sale.—On
Oct. 24 the $22,357 50 43^%
road-improvement bonds
described inV. 91, p. 978, were sold to the
Dayton Savings &
Trust Co. of Dayton at 101.274.
A list of the bids received
follows:
Premiums.
Premiums.
DaytonSav. & Tr. Co., Day.$285 00 Seasongood & Mayer, Cln
$250 50
Citizens’ S. D. & Tr. Co..Day. 284 40"
S.B.&
Security
Tr. Co., Tol.. 227 00
Spltzer & CO., Toledo
277 35 New First Nat. Bk., Colum__ 227 00
Stacy & Braun, Toledo
266 75 Western-German Bank,
Cln. 170 00
Breed & Harrison, Cln
251 00
Maturity $5,857 50 In 1912 and $5,500 In each of the years 1913, 1914
and
<
v.
s3
■
•
19!5^s,
t
'm,
c,
c
McArthur, Vinton County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Nov. 5 by Chas. W.
Brown, Village Clerk, for $3,000 5% Main Street improve¬
ment bonds.
''.it
/.H.j-i
■Aju.i/,
Authority, Section
r.
$$35, Revised Statutes. Denomination $500. Date
Oct. 1 1910.
Interest annual.
Maturity $500 yearly4>n Oct* 14rom 1915
to 1920 Inclusive.
Certified cheek for $200, payable to the Village Clerk,
Is required.
Purchaser to pay accrued Interest.
s>
Maple Grove School District, Iowa.—Bond Sale.—We
have just been advised that on July 26
$4,500 5% school
bonds
were
sold
to
the Investors'
Moines at par.
Denomination $500.
February and August.
on
.
.
Date
Securities Co. of Des
.
.
*.r.
„
July 26 1910. Interest semi-annually in
Maturity $2,000 on Aug. 1 1913 and $500 yearly
Aug. 1 from 1916 to 1920 Inclusive.
,
<
Marblehead, Essex County, Mass.—Bond Offering.—Pro¬
posals
were
asked for until 10
Everett Paine,
water bonds.
a. m. yesterday (Oct. 28)
by
Town Treasurer, for $27,000 4% coupon
O0T. 29
THE CHRONICLE
1910.)
Denomination (1,000.
Date May 1 1810.
Interest semi-annually at the
Maturity $1,000 yearly on May 1
from 1911 to 1914 Inclusive, $2,000 yearly on May 1 from 1915 to 1922
inclusive and $1,000 yearly on May 1 from 1923 to 1929 Inclusive.
Bonds
will be certified as to genuineness by the Old Colony Trust Co. of Boston,
which will further certify that the legality of the bonds has been approved
by Stdrey, Thorndike, Palmer & Dodge of Boston. The result of this
offering was not known to us at the hour of going to press.
Winthrop National Bank in Boston.
1199
Newport Drainage District (P. O. Santa Ana), Orange
County, Cal.—Bonds Voted.—The election held Oct. 4
resulted in favor of the proposition to issue the $15,000
5%
gold coupon drainage-construction bonds mentioned
V. 91, p. 821.
The vote was 34 “for” to 4 “against.”
Denomination $150.
in
Interest Jan. 1 and July 1 at the County Treasurer's
Marshall, Harrison Gounty, Texas.—Bonds Registered.— office. Maturity on Jan. 1 as follows:
in
1922 $1,200
in
1925 $1,650
in
$750
1928 $2,250
In
1930
The State Comptroller on Oct. 21 registered the $50,000 5%
900
in
1923
In
1926
in
1929
1,350
1.950
in
1931
2,400
10-40-year (optional) coupon high-school bonds which were 1,050 In 1924 1,500 in 1927
sold to Harris Trust & Savings Bank of Chicago (V. 91, p.
The bonds will not be put on the market, we are advised,
821).
for about three months.
Mauch Chunk, Carbon County, Pa.—Bonds Awarded in
New
Westchester County, N. Y.—Bond Sale.—
Part.—On Oct. 1 $3,500 of the $5,000 bonds (the unsold por¬ On Oct.Rochelle,
25 the $46,000 4)^% registered publie-improvement
tion of the $12,000 3>^% registered funding bonds mentioned
“Series A” bonds described in V. 91, p. 1116, were awarded
in V. 91, p. 603) were sold to local investors at par.
Ma¬ to Farson, Son & Co. of New York
City for $46,481—the
turity 1940, subject to call $1,000 yearly after 1915.
price thus being 101.045. Other bids received were as
Mayes County School Districts No. 8 and 17, Okla.—Bonds follows:
Offered by Bankers.—The following 6% school bonds are be¬ E. H. Rollins & Son....$46,469 20[Parklnson & Burr
$46,393 26
Adams & Co
46,414 001N. W. Harris & Co
46,378 00
ing offered to investors by Chas. A. Fach of St. Louis:
Chisholm &
$1,000 bonds of School District No. 8.
1910.
Maturity July 1 1920.
800 bonds
of
Scnool
District
No.
Denomination $500.
17.
Denomination
$200.
Date
Sept. 5 1910.
The above districts have
no
other bonded debt,
Maysville, Mason County, Ky.—Bond Sale.—On Oct. 17
Maysville was awarded $7,850
(amount reduced from $8,500 by assessments paid in cash
prior
to the date of sale) 6% coupon municipal-improvement
bonds. The price paid was par.
the State National Bank of
Denomination $250.
turity 10
years,
Date Sept. 6 1910
Interest semi-annual.
subject to call at any interest-paying period.
Ma¬
Medford, Middlesex County, Mass.—Bond Sale.—Dis¬
patches state that $15,000 4% 30-year sewer bonds were
awarded to E. M. Farnsworth & Co. of Boston at 108.73.
Date
Sept. 1 1910.
Melrose, Middlesex County, Mass.—Temporary Loan.—On
Oct. 25 a loan of $25,000 due July 7 1911 was negotiated with
Loring, Tolman & Tupper of Boston at 4.14% discount.
Meridian, Lauderdale County, Miss.—Bond Sale.—New
Orleans papers state that the $50,000 5% 20-year
coupon
drainage bonds offered on Oct. 11 and described in V. 91,
p.
898,
were
Chapman
Date Oct. 1
awarded to Breed & Harrison of Cincinnati
at 101.
Bond Sale.—In addition to the above, it is stated that
this city has also awarded Breed & Harrison of Cincinnati
$15,000 Highland Park,.$15,000 fire-department and $10,000
sewer bonds.
These bonds and the drainage bonds given
above are all part of an issue of $275,000 recently authorized
(V. 91, p. 744) by this city.
Milwaukee, Wis.—Bond Offering.—Proposals will be re¬
ceived until 11 a. m. Nov. 1 by Commissioners of the Public
Debt at the office of Carl P. Dietz, City Comptroller, for the
$115,000 4% coupon school bonds offered but not sold on
Aug. 10 (V. 91, p. 417).
Authority Chapter 40b and 41, Statutes of 1898 and amendments thereto.
Denominations: 100 bonds of $1,000 each and 20 bonds of $750 each.
Date July 1 1910.
Interest semi-annually at the City Treasurer’s office
or the Guaranty Trust Co. in New York
City.
Maturity one-twentieth
yearly.
Modesto, Cal.—Bond Sale.—On Oct. 12 the four issues of
5% coupon bonds, aggregating $100,000, described in V. 91,
p. 898, were sold to, the Harris Trust & Savings Bank of
Chicago. Maturity $2,500 yearly on Dec. 1 from 1910 to
All the above bidders
46,402 50[Blodget & Co
from New York City.
46,265 42
are
Newton
County (P. O. Kentland), Ind.—Bond Offering.
sale the $63,500 4}^%* bonds
667) on June 25.
Nordhoff Union High School District (P. O. Nordhoff),
Ventura County, Cal.—Bonds Voted.—An election held
Oct. 11 resulted in favor of a proposition to issue $20,0005%
high-school-building bonds. The vote was 151 “for” to 8
“against.” Interest semi-annual.
—This county is re-offering for
which failed to sell (Y. 91, p.
North Cohocton and Atlanta Union School Dist. (P. O.
North Cohocton), Steuben Co., N. Y.—Bond Sale.—The $2,000 bonds (the unsold portion of the $9,000 5% school-house
bonds mentioned in V. 91, p. 745) were disposed of at par
Sept. 26 as follows:
to Andrew Yierhil.
on
$1,000 to Geo. H. Vierhil and $1,000
North Dakota.—Bonds Purchased by the Stale During
September.—The following 4% bonds, aggregating $183,050*
were purchased during September by
the State of North Da¬
kota at par:
Barnes County School District No. 16—$1,000 10-year
Sept. 1 1910.
building bonds dated
Enderlin Special School District, Ransom County—$4,500 20-year funding
bonds dated Sept. 10 1910.
Gerson School District No. 28, Morton County—$800 10-year funding bonds
dated Sept. 10 1910.
Grand Forks, Grand Forks County—$45,000 6-20-year (serial) refunding
bonds dated Sept. 1 1910.
Haley School District No. 8, Bowman County—$750 15-year building bonds
dated Sept. 1 1910.
Kensel School District No. 19, Stutsman County—$7,000 building and re¬
funding bonds dated Aug. 10 1910 and due Sept. 10 1930.
Land School District No. 49, McHenry County—$3,000 10-year building
bonds dated Oct. 1 1910.
.
Lldgerwood, Richland County—$6,000 20-year city-hall bonds dated Oct. 1
1910.
Little Knife School District No. 23, Dunn County—$1,000 20-year building
bonds dated Aug. 1 1910.
Meyer School District No. 11, Pierce County—$1,000 10-year building
bonds dated Aug. 1 1910.
Minot Special School District, Ward County—$20,000 20-year building
bonds dated Sept. 10 1910.
Park River Special School District, Walsh County—$6,000 20-year refund¬
ing bonds dated Sept. 10 1910.
•Pierce County—$70,000 court-house and $15,000 jail 20-year bonds dated
Sept. 1 1910.
Schneider School District No. 39, McLean County—$2,000 20-year build¬
ing bonds dated Sept. 10 1910.
•
Sale
previously reported in V. 91,
None of the above bonds
p.
542
subject to call.
Nutley School District (P. O. Nutley), Essex County,
Montgomery County (P. O. Dayton),Ohio.—BondSales.— N. J.—Bonds Proposed.—This district is considering, it is
On Oct. 21 the $2,300 4)^% coupon Shock Ditch improve¬ stated, the issuance of school-building bonds amounting
are
1949 inclusive.
ment bonds described in V. 91, p. 1115, were sold to Seasongood & Mayer of Cincinnati for $2,325—the price thus being
101.086.
A bid of $2,317 26 was also received from the
Dayton Savings & Trust Co. of Dayton. Maturity $400
yearly on Nov. 1 from 1911 to 1915 inclusive and $300 on
Nov. 1 1916.
The
$3,000 5% 2-year grade-crossing-alteration (county’s
portion) bonds described in V. 91, p. 1115, were sold on
Oct. 22 to Seasongood & Mayer of Cincinnati at 100.71.
A
list of the bidders follows:
Seasongood
& Mayer, Cincinnati
First National Bank, Barnesville
Dayton Savings & Trust Co.. Dayton
_<•
$3,021 30
3,015 00
3,013 20
Morrison County (P. O. Little Falls), Minn.—Bond Offer¬
11 a. m. Nov. 1 for
Interest rate to be
named in bid and based on bonds maturing in 10, 15 or 20
ing.—Proposals will be received until
$35,000 refunding railroad-aid bonds.
years.
Mt. Carroll, Carroll County, Ill.—Bonds Voted.—An elec¬
tion held recently resulted in favor, it is stated, of issuing
the $7,000 city-hall bonds mentioned in V. 91, p. 745.
Mt. Vernon, Westchester County, N. Y.—Bond Sale.—
On Oct. 18 the $20,000 4% 23-26-year (serial) coupon fire
and
police department building bonds, offered on that day
(V. 91, p. 1050), were sold to the Sinking Fund at par and
accrued interest.
Munday, Knox County, Tex.—Bonds Voted.—This city
recently voted to issue $10,000 water-works-system and
$5,000 street-improvement bonds, according to* reports.
New Haven, Olmsted County, Minn.—Bond Offering.—
Proposals will be received until 1 p. m. to-day (Oct. 29) by
E. S. Barker, Town Clerk (P. O. Douglas), for $5,000 6%
road and bridge-building bonds.
Authority, election held July 9 1910. Denomination $200.
$1,000 yearly on July 1 from 1911 to 1915 inclusive.
Maturity
$50,000.
Oconto, Oconto County, Wis.—Bonds Voted.—An elec¬
tion held Oct. 11 resulted in favor of a proposition to issue
$25,000 5% 10-year bonds. The vote was 859 “for” to 23
“against”. The bonds will be issued in order to secure a
Federal appropriation of $75,000 for harbor improvements.
Ogdensburg, St. Lawrence County, N. Y.—Bid.—On
Oct. 20 the National Bank of Ogdensburg submitted a bid
for $5,000 4% bonds offered on thatday.
Ogden Township, Riley County, Kan.—Bond Election.—
Reports state that an election will be held Nov. 22 to vote
.on the question of
issuing $10,000 bonds in aid of the
Manhattan-Fort Riley Electric Line,
Olathe, Montrose County, Colo.—Bond Election.—At the
to
election to be held Nov. 8 it will be decided whether
or
not
water bonds
amounting to “about $75,000” shall be issued.
Olean, Cattaraugus County, N. Y.—N.o Action Yet Taken.
—We are informed, under date of Oct. 21, that no action
has yet been taken on the resolution pending in the Counci,
providing that propositions to issue $50,000 market-house
and $2,000 band-stand bonds be submitted to a vote of the
people on Nov. 8. See V. 91, p. 745.
Onaga, Pottawatomie County, Kan.—Bond Offering.—
Proposals will be received any time for the $18,000 5% waterworks-construction bonds mentioned in V. 91, p. 979.
Authority, vote of 114 to 37
to call after 10 years.
on Oct. 10.
Maturity Nov. 1 1940, subject
E. E. Hines is City Clerk.
Ontario, San Bernardino County, Cal.—Bond. Election.—
City Trustees have passed an ordinance, it is said, pro¬
viding for the submission to the voters on Oct. 31 of a pro¬
position to issue $175,000 bonds for the installation of a com¬
plete new water system.
The
Orange, Orange County, Cal.—Purchaser of Bonds.—We
advised that the purchaser of the $16,000 1-16-year
are
1200
THE CHRONICLE
(serial) outfall-sewer and $5,000 1-10-year (serial) Plaza
paving 5% gold coupon bonds, disposed of on Oct. 3 at
101.795 (V. 91, p. 1051) was the First National Bank in
Orange. Denomination $500. Date Oct. 1 1910. Interest
[Vol.
Denomination $1,000.
LXXXXI.
Date April 1 1910.
the City Treasurer’s office.
Maturity on
of the years 1919, 1922, 1924 and 1926
1927 and 1929
Interest semi-annually at
April 1 as follows: $1,000 in each
and $3,000 in each of the years
Reno School District No. 10 (P. O. Reno), Washoe
County,
Nev.—Description of Bonds.—We are advised that the $250,000 school-building bonds voted on Oct. 1 (V. 91, p. 1051)
Sale.—An issue are coupon
in form and carry interest at the rate of 5%,
$50,000 6% water-works bonds was awarded on Sept. 15 payable
semi-annually in Reno. Maturity $12,500 yearly
Ulen Sutherlin & Co. in Chicago at 101 and accrued inter¬
from one to twenty years inclusive.
Our informant further
June and December.
Park City, Summit County, Utah.—Bond
of
to
est.
Denomination $500.
Interest semi-annual.
Date Oct. 1 1910.
turity $12,500 in each of the years 1915, 1920, 1925 and 1930.
Ma¬
Parker, Turner County, So. Dak.—Bond Sale.—The $10,-
000 5% coupon city-hall building bonds recently voted (V. 91,
p. 668) have been awarded to the State of South Dakota.
Date Jan. 1 1911.
Bonded debt, including this issue, $22,000.
Assessed valuation, $345,000.
ing debt, $500.
Float¬
Pasadena, Los Angeles County, Cal.—Bond Election Pro¬
posed.—According to reports, the Board of Trade has unani¬
mously adopted a resolution requesting the City Council to
call an election to vote on the question of issuing $320,000
bonds, the proceeds of which will be used for the following
purposes: $70,000 to purchase Carmelita Gardens, $125,000
to erect a public building, $85,000 to buy Monk Hill and
$40 ,000 to secure a strip of land on Kensington Drive, ad¬
joining Carmelita Gardens.
Pawtucket, R. I.—Bond Offering.—Proposals will be re¬
ceived until 2 p. m. Nov. 2 by J. Ellis White, City Treasurer,
for the following 434% coupon bonds:
$200,000
40,000
90,000
125,000
125,000
refunding bonds maturing July 1 1950.
public park bonds maturing July 1 1950.
sewer bonds maturing July 1 1950.
highway and bridge bonds maturing July 1 1950.
water-works-construction bonds maturing $25,000 on July 1 In
each of the years 1915, 1920, 1925, 1930 and 1935.
Denomination $1,000.
Date July 1 1910.
Interest semi-annually in
Boston.
Bonds will be certified as to genuineness by the Old Colony
Trust
Co. of Boston, which will further certify that the legality of these issues has
been approved by Storey, Thorndike, Palmer & Dodge of
Boston, a copy
of whose opinion will be delivered without
charge to the purchaser.
Certi¬
fied check for $1,000, drawn on any national bank or trust
company, and
payable to the city, is required. These bonds were offered without success
as 4s on July 6.
V. 91, p. 480.
Pecos, Reeves County, Tex.—Bond Election.—According
to reports, the election to vote on the
question of issuing the
$25,000 sewerage bonds, mentioned in V. 91, p. 1051, will be
held Dec. 3.
Peru, Miami County, Ind.—Bond Sale.—We are informed
that the amount of 4%
refunding bonds recently awarded
to the Fletcher-American National Bank of
Indianapolis
(V. 91, p. 1116) was $18,000, and not $8,000 as at first
reported. The bonds were disposed of on Oct. 11 and
brought 100.15 and interest.
states that they
Jan. 1 1911.
will probably be advertised for sale about
Ridge Township School District, Van Wert County, Ohio.
—Bond Offering.—Proposals will be received until 1 p. m.
Nov. 3 by the Board of Education, W. J. Lepley, Clerk, at
the office of Blachly & Kerns in Van Wert, for the $35,000
434% coupon bonds mentioned in V. 91,
p.
900.
Authority, Sections 7625, 7626 and 7627, General Code; also election
held Sept. 21.
Denomination $500.
Date Nov. 3 1910.
Interest semi¬
annually at the First National Bank In Van Wert.
Maturity $3,000 Nov. 3
1918 and $8,000 yearly on Nov. 3 from 1919 to 1922 Inclusive.
Certified
check for $500, payable to the Clerk, is required.
Rising Star, Eastland County, Tex.—Bonds Voted.—An
election held recently resulted in favor of a proposition to
issue $10,000 street-improvement bonds.
The vote, ac¬
cording to reports, was 83 to 21.
Robertson County Common School District No. 20, Texas.
—Bonds Registered.—The State Comptroller registered $1,700
5% 10-20-year (optional) bonds on Oct. 17.
Rockmart, Polk County, Ga.—Bond Offering.—Proposals
will be received until 7:30 p. m. Nov. 1 by P. M. Edwards,
City Clerk, for the $25,000 water-works and $10,000 sewer
bonds voted on Aug. 10 (V. 91, p. 481).
n
Denominations $500 and $400.
Date Oct. 1 1910.
Interest annually
Rockmart.
Maturity $1,400 yearly on Jan. 1 from 1912 to 1936 inclusive.
Rockport,
Cuyahoga
County,
Ohio.—Bond
Sale.—On
Oct. 15 the $15,000 434% 30-year water-main-extension
bonds described in V. 91, p. 822, were sold to Hayden, Miller
& Co. of Cleveland at 107.60 and interest—a basis of about
4.06%.
Roseburg School District (P. O. Roseburg), Douglas
County, Ore.—Bonds Voted.—According to reports, an elec¬
tion held Oct. 22 resulted in favor of a proposition to issue
$75,000 high-school-building bonds. The vote was 60 to 51.
St. Joseph, Berrien County, Mich.—Bond Sale.—On
Oct. 19 the $20,000 20-year coupon bridge bonds described
in V. 91, p. 823, were awarded to Harris Trust & Savings
Bank of Chicago at 103.175 and accrued interest for 434s.
Other bids received
were
as
follows:
semi-annual.
Seasongood & Mayer, Cin
$20,612 Prov. S. Bk. & Tr. Co., Ciu_.$20,275
A. B. Leach & Co., Chicago. 20,455 John Nuveen & Co., Chicago. 20,262
N. W. Halsey & Co., Chic... 20,520 Farwell Trust Co., Chicago.. 20,102
A bid was also received from H. W Noble & Co. of Detroit.
Philadelphia, Jefferson County, N. Y.—Bond Sale.—On
Sept. 19 an issue of $3,000 4% 2-7-year (serial) electric-lightplant improvement bonds was awarded to James Render at
St. Paul, Minn.—Bond Offering.—This city is offering for
sale “over the counter" the $150,000 4% 30-year school
bonds the bid for which was rejected (V. 91, p. 1051) on
Oct. 10.
Denomination
$1,000.
Date
Dec.
Maturity part yearly from 5 to 14
1
years
1910.
Interest
inclusive.
par.
Denomination $500. Date Oct. 1 1910. Interest
semi-annual
Placer County (P. O. Auburn), Cal.—Bond Election.—Ac¬
cording to reports, an election will be held Nov. 8 to vote on
proposition to issue $40,000 jail ponds.
Plainfield, Union County, N. J.—Bond Sale.—An issue of
$30,000 5% gold coupon street-improvement bonds was
awarded on Oct. 20 to the
City National Bank in Plainfield
at par and accrued interest.
There were no other bidders.
Date
™Pe£omInatIc!n
tl
«00°.
July
1 1910. Interest semi-annually at th<
City Treasurer’s office.
a
Maturity July 1 1913, subject
Pocahontas County (P. O.
to call after 1 year
Pocahontas), Iowa.—Bond Sale
$157,500 6% drainage bonds was awarded or
M. Bechtel & Co. of
Davenport for $163,642 5(
—An issue of
Oct. 4 to Geo.
—the price thus
being 103.835.
Port Chester, Westchester County, N. Y.—Bond Sale.—
'
The three issues of bonds,
aggregating $56,500, offered on
Oct. 17 and described in Y.
91, p. 1051, were awarded, to
Spitzer & Co. of New York at 108.814.
"
Port of Toledo (P. 0. Toledo), Lincoln
County, Ore.—
Bond Offering.—Proposals will be received until
12 m. Nov. 9
by Lee Wade, Secretary, for $50,000 6% 10-20-year
(op¬
tional) improvement bonds. Interest annual.
Preble County (P. O. Eaton), Ohio.—Bond
Sale.—On
Oct. 8 four issues of 434% ditch bonds were awarded
as
follows:
$204 Schivley Ditch No. 354 Bonds to J. B.
Runyon at 100.666.
£20 Spacht; Ditch No. 355 bonds to Lizzie Miller at 100.576.
oio Kims Ditch No. 358 bonds to J. B. Runyon at 100.608.
368 Douglass Ditch No. 359 bonds
to James Carroll at 100.502.
The bids received
were
as
follows:
$204
T
r,
„
„
PVn,ytm\Paton
Bonds.
-$205 36
$520
Bonds.
$240
Bonds.
$241 46
$361
Bond.
T
$522 90
$369 l
Lizzie Miller, Eaton
205 25
523 00
James Carroll, Eaton
205 06
522 61
24121
369
Preble County National Bank, Eaton
204 00
520 00
240 00
368
p Interest April 8 and Oct. 8.
~Maturity part each six months from
April
1911 to Oct. 8 1915 Inclusive.
Bond
for the
Offering.—Proposals
will be received until Nov.
following 434% bonds:
]
$1,216 Fowble
Ditch No. 364 bonds.
Denomination $102.
Maturi
$102 each six months from
May 12 1911 to Nov. 12 1914 inclush
384 Wagner Ditch No. 361 bonds.
Denomination $64.
Maturity $
®ach six months from
May 12 1911 to Nov. 12 1913 Inclusive.
80 Ashworth Ditch No. 366
bonds.
Denomination $40.
Maturi
$40 May 12 1911 and $40 Nov. 12 1911.
Racine, Racine County, Wis.—Bond Soie.—The Han
I rust &
Savings Bank of Chicago recently purchased $10,0(
*72/0 coupon street-improvement bonds
.
St. Petersburg, Hillsboro County, Fla.—Bond Offering.—
Proposals will be received until Nov. 3 by W. T. Divine, City
Clerk, for $67,500 brick street-paving, $5,000 sewer, $10,000
water-works, $10,000 water-front-improvement and pur¬
chase and $7,500 fire-station, jail, fire and police-alarm-sys¬
tem 6% coupon bonds voted on Aug. 30 (V. 91, p. 746).
Denomination $1,000.
Date Oct. l 1910. Interest semi-annually In
St. Petersburg.
Maturity 30 years.
Bonds are tax-exempt. Certified
check for 5% of bid, payable to the City Clerk, is rqeuired.
Salem, Marion County, Ore.—Bond Offering.—Proposals
Nov. 28 by W. A. Moores, City
Recorder, for $400,000 5% gold water bonds.
will be received until 5 p. m.
Denomination $1,000.
Interest semi-annual.
Maturity 25
years
from
Aug. 18 1910.
The
official notice of this bond offering will be found among
Department.
Salina, Salina County, Kan.—Bids Rejected.—All bids re¬
ceived on Oct. 17 for the $53,960 5% street-paving improve¬
ment bonds described in V. 91, p. 1051, were rejected.
San Augustine, San Augustine County, Texas.—Bonds
the advertisements elsewhere in this
Voted.—It is stated that
on
Oct. 18
a
vote of 77 “for" to 21
cast in favor of a proposition to issue waterworks-system bonds.
San Francisco, Cal.—Bond Sale.—The following bonds,
offered on Oct. 17 and described in V. 91, p. 980, have been
sold to the Harris Trust & Savings Bank and the Continental
& Commercial National Bank, both of Chicago, and James
H. Adams & Co. of Los Angeles, at their joint bid of $1,188,150 (103.859):
$600,000 5% school bonds, due $24,000
yearly from 1914 to 1938 inclusive; $200,000 5% hospital
bonds, due $10,000 yearly from 1913 to 1932 inclusive;
$200,000 5% hall-of-justice bonds, due $10,000 yearly
from 1912 to 1931 inclusive and $144,000 434% poly¬
technic high-school bonds, due $6,000 yearly from 1914
“against"
was
to 1937 inclusive.
San Mateo, San Mateo County, Cal.—Description of Bonds.
—We are advised that of the bonds voted on Sept. 20 (V. 91,
>. 900), $24,000 will be issued for sewer improvements and
>30,000 for the fire department. They will carry 4%% inerest and mature part yearly from one to forty years inclu-
San Saba County (P. O. San Saba), Tex.—Bond Offering.—
This county is offering for sale until Nov. 1 $75,000 5%
court-house-construction bonds.
Authority Articles 877 et seq, Revised Statutes 1895, Article 877, being
amended by the Leglslaturelof 1903also votelofi653 to 504 at election
OOT. 29
THE CHRONICLE
1910.)
held April 0 1910.
Denomination $1,000. Date Aug. 10 1910. Interest
annually on April 10 at the office of the County Treasurer or at the office
of the State Treasurer.
Maturity 40 years, subject to call after 10 years.
City), Va.—Bond Election.—
hold an election, it is stated, to vote on a
proposition to issue $300,000 highway bonds.
Scranton School District (P. O. Scranton), Pa.—Bonds
Not Sold.—No bids were received on Oct. 24 for the $50,000
4% 21-year coupon permanent-improvement bonds described
in V. 91, p. 1116.
Seattle, Wash.—Bond Sale.—The $500,000 coupon waterextension bonds, offered without success on June 4 (V. 90,
p. 1630), have been disposed of as 434s.
Interest annually
at the State Treasury.
Maturity July 1 1930.
Sigourney, Keokuk County, Iowa.—-Bonds Voted.—By a
vote of 547 to 44 this city at an election held Oct. 17 author¬
ized, it is stated, the issuance of $35,000 sewer-system-con¬
Scott County (P. O. Oates
This county is to
1201
(serial) gold coupon or registered school bonds, which
place Oct. 24 (V. 91, p. 1052), was post¬
poned until Oct. 31.
Upper Darby Township, Delaware County, Pa.—Bond
Sale.—An issue of $28,000 434% 30-year funding and roadimprovement bonds was sold on Oct. 18 to Newburger, Hen¬
derson & Loeb of Philadelphia at par and interest, purchasers
to pay the State tax.
The following bids were received for
tax-exempt bonds:
year
was
to have taken
Edw. V. Kane & Co., Phila--.103.411 Philadelphia Saving Fund SoFirst Nat. Bk., Clifton Hgts_.102
| clety, Philadelphia
.101.67
Upshur County Common School District No. 16, Texas.—
State Comptroller regis¬
bonds.
Wappello County (P. O. Ottumwa), la.—Bond Sale.—
N. W. Halsey & Co. of Chicago, according to reports, have
been awarded at 105.31 the two issues of bonds, aggregating
struction bonds.
$66,000, mentioned in Y. 91, p. 824.
Warren, Trumbull County, Ohio.—Bond Offering.—Pro¬
South River, Middlesex County, N. J.—Bond Sale.—On
Oct. 24 the National Bank of South River was awarded three posals will be received until 12 m. Nov. 19 by Wm. E. Dilley,
issues of 5% 30-year coupon or registered bonds, aggregating City Auditor, for the followin g4}4% coupon (city’s portion)
$139,500. The price paid was par and accrued interest. sewer bonds:
These securities were offered without success as 434s (V. 90, $13,000 bonds. Denomination $1,300.
3,000 bonds.
Denomination $300.
Denomination $523.
5,230 bonds.
p. 1631) on May 27.
2,400 bonds.
Denomination $240.
Snyder, Scurry County, Tex.—Bond Offering.—This city
Authority Sections 53 and 95, Municipal Code. Date Sept. 1 1910.
is offering for sale $44,400 5% 15-40-year water-works and Interest semi-annually at the Union National Bank in Warren. Maturity
one-tenth of each issue, payable each six months from March 1 1911 to
sewerage bonds.
Sept. 1 1915 Inclusive.
Certified check for 5%
Bonds are tax-exempt.
Date July 16 1910.
Interest annually at the Seaboard National Bank In
New York City.
The city has no debt at present.
Mac Taylor Is Mayor.
South Amboy, Middlesex County, N. J.—Bond Election.—
The question of issuing the $100,000 sewer-construction
bonds mentioned in V. 91, p. 900, will he submitted to the
voters on Nov. 8.
Interest not to exceed 5%.
South Bend, St. Joseph County, Ind.—Bond Sale.—On
Oct. 20 the $20,000 4% 20-year street-improvement and
refunding bonds described in V. 91,
p. 1052, were awarded
to the Harris Trust & Savings Bank of Chicago at 103.08
and accrued interest.
Other bids received were as follows:
Breed & Harrison, Cin
$20,605 001Marion Trust Co., Indian.$20,380 00
Gavin L. Payne&Co.,Ind_ 20,422 50[J. F. Wild & Co., Ind
20,100 00
Bonds Proposed.—This city, it is stated, intends issuing
$100,000 sewer bonds.
Springwater School District No. 1 (P. O. Springwater),
Livingston County, N. Y.—Bond Sale.—On Oct. 4 an issue
of $8,800 5% school-building bonds was awarded to the Farm¬
ers' & Merchants’ Bank of Bath at par and accrued interest.
Denominations 8 bonds of $100 and 16 bonds of $500.
Interest January.
Date Aug. 1 1910.
Bonds Registered.—On Oct. 17 the
tered $900 5% 5-10-year (optional)
of bid,
payable to the City, is required.
Purchaser to
pay
accrued interest.
Warren County (IU.) School District No. 28.—Bond Sale.—
The Thos. J. Bolger Co. of Chicago has purchased an issue
of
$3,000 534% bonds of this district.
Date Oct. 15 1910. Interest payable in Chicago.
Oct. 15 In each of the years 1912, 1913 and 1914.
Denomination $1,000.
Maturity $1,000
on
Waukegon, Lake County, Ill.—Bonds Voted.—The
propo¬
sition to issue $35,000
the voters on Oct. 13
bonds for fire stations submitted to
(V. 91, p. 901) carried, it is stated,
by a vote of 393 to 266.
Wayne County (P. O. Detroit), Mich.—Bond Election.—
An election will be held in this county Nov. 8 to vote on the
question of issuing the $2,000,000 good-road bonds men¬
tioned in V. 91, p. 981.
West Carrollton, Montgomery County, Ohio.—Bond Of¬
fering.—Proposals will be received until 12 m. Nov. 16 by
H. J. Wilson, Village Clerk, for the $12,000 434% coupon
water-works-construction bonds voted (V. 91, p. 543) on
Aug. 10.
Authority, Sections 3939, 3941 and 3949, General Code.
Denomination
Date Nov. 1 1910.
Interest semi-annually at the First National
Maturity $500 yearly on Nov. 1 from 1914 to 1925
inclusive, $1,000 Nov. 1 1926, $1,500,000 on Nov. 1 in each of the years
1927, 1928 and 1929 and $500 Nov. 1 1930.
Bonds are tax-exempt. Cer¬
tified check on a national bank for 5% of bid, payable to the Village Treas¬
urer, is required.
Purchaser to pay accrued interest.
Bonded debt, in¬
cluding this issue, $29,630.
No floating debt.
Assessed valuation.
$447,100.
$500.
Stephens County Common School District No. 10, Tex.—
Registered.—On Oct. 14 the State Comptroller regis¬
tered $5,000 5% 5-20-year (optional) bonds.
Sully County (P. O. Onida), So. Dak.—Bonds Proposed.—
This county proposes to issue $30,000 court-house bonds.
We are informed, however, that as the money will not be
Westfield, Chautauqua County, N. Y.—Bond Sale—The
needed until next summer, no steps will be taken before the $100,000 sewer-system and disposal-plant bonds offered on
Oct. 21 (V. 91, p. 901), were sold to Spitzer & Co. of New
spring looking towards the issuance of the bonds.
Sylvia, Reno County, Kans.—Bond Election Rescinded.— York City at 100.278 for 434s. A list of the bidders follows:
& Co., New York (4 «s)
_..$100,278 00
Owing to the discovery of some irregularities in the proceed¬ Spitzer
W. N. Coler & Co., New York (4.30s)
100,126 00
N.
W.
Harris
&
Co.,
New
York
(4.35s)
100,199 00
ings, an election which was to have been held Oct. 6 to vote
Adams & Co., New York (4.35s)
100,060 50
on the question of issuing $5,000 light bonds was canceled.
C. E. Denison & Co., Cleveland (4.40s)
100,112 75
E. H. Rollins & Sons, Boston (4.40s)
100,090 00
Taylor Separate School District, Lafayette County, Miss. Farson,
Son & Co., New York (4Hs)
101,876 00
—Bond Offering.—Further details are at hand relative to the A. B. Leach & Co., New York (4^8)
101,770 00
& Hough, Cleveland (4Hs)
100,505 00
offering on Nov. 7 of the $3,000 6% coupon school-building Otis
Denomination $1,000.
Ma¬
Date Jan. 2 1911.
Interest semi-annual.
and site-purchase bonds mentioned in V. 91, p. 1052.
Pro¬ turity $4,000 yearly on Jan. 2 from 1914 to 1938 inclusive.
posals for these bonds will be received until 10 a. m. on that
Wheatland, Laramie County, Wyo.—Bonds Offered by
day by the Board of County Supervisors, W. M. Woodward Bankers.—The following 5% bonds are being offered to in¬
(P. O. Oxford), Clerk.
vestors by the German-American Trust Co. of Denver:
Authority Section 4534, Municipalities Code of 1906. Denomination
$100.
Interest annually on Nov. 7.
$45,000 15-30-year (optional) water bonds, $20,000 10-20Maturity 20 years, bonds numbered
from 1 to 15 Inclusive being subject to call after 10 years. Certified check year
(optional) sewer bonds and $10,000 10-30-year (option¬
for 10% of bonds bid for Is required.
al) electric-light bonds.
Teton County School District No. 12 (P. O. Bynum),
Date July 1 1910.
Interest semi-annually at the Town Treasury or the
Mont.—Bond Offering.—Proposals will be received until 2 German-American Trust Co. in Denver in New York exchange. The above
issues represent the total debt of the town.
Assessed valuation $655,000.
m. Nov. 5 by D. Stewart
Clerk, for $1,200 6% schoolWichita,
Sedgwick
County,
Kan.—Bonds
Authorized.—
uilding and equipment bonds.
An ordinance has been passed providing for the issuance of
Denomination $100.
Date July 1 1910.
Interest semi-annual. Matur¬
ity July 1 1925, subject to call after 10 years.
$25,000 dam-construction bonds.
Thornton Township High School District (P. O. Harvey),
In addition to the above, ordinances have also been passed
Cook County, Ill.—Bond Offering.—Additional details are at providing for the issuance of the following coupon bonds:
hand relative to the offering on Nov. 2 of the $140,000 4% $15,230 68 5% bonds to improve the Intersections of Eleventh Street.
Denomination $500, except one bond of $230 68.
Date
coupon school-building -enlargement bonds mentioned in
Sept. 1 1910. Maturity $1,730 68 on Sept. 1 1911 and
V. 91, p. 1052.
$1,500 yearly from 1912 to 1920 inclusive.
Proposals for these bonds will be received
30,032 17 5% bonds to improve Eleventh Street exclusive of the inter¬
until 8 p. m. on that day by W. H. Miller, President Board
sections.
Denomination $1,000, except one bond of $32 17.
Bank in Miamisburg.
Bonds
„
.
of Education.
Authority election held Aug. 20 1910.
Date
Denomination $1,000.
Nov. 2 1910.
Interest semi-annually at the Treasurer’s office.
Maturity
$5,000 yearly on Nov. 1 from 1912 to 1915, inclusive, and $10,000 yearly
on Nov. 1 from 1916 to 1927 inclusive.
Certified check for 2
of bonds
bid for, made payable to the President Board of Education, is required.
Toledo,
Ohio.—Bond
Sale.—The
$80,000
4%
5-year
coupon street-improvement (city’s portion) bonds mentioned
in V. 91, p. 980, have been purchased by the Sinking Fund
of this city.
Tulsa, Tulsa County, Okla.—Bond Sale.—The four issues
of 5% 20-year coupon bonds, aggregating $180,000, offered
without success on April 1 (V. 90, p. 1120), have been sold.
The securities were issued for the following purposes:
$100,000 for water-works-extension, $25,000 for an incinerat¬
ing plant, $35,000 for sewers and $20,000 for viaduct, bridge
and street extensions.
Union (P. O. Weehawken), Hudson County, N. J.—Bond
Offering Postponed.—The offering of the $80,000 434% 6-13-
Date Sept. 1 1910.
Maturity $3,032 17 on Sept. 1 1911
and $3,000 yearly 6n Sept. 1 from 1912 to 1920 inclusive.
1,441 20
bonds to construct lateral sewers in Storm Water Sewer
District No. 5.
Denomination $150, except one bond of
Date Oct. 1 1910.
$91 20.
Maturity $91 20 on Oct. 1
1911 and $150 yearly on Oct. 1 from 1912 to 1920 inclusive.
Interest rate not to exceed 6%.
Interest semi-annually at the fiscal agency of Kansas in Topeka.
Williams Union High School District, Colusa County, Cal.
—Bond Election.—An election will be held in this district
Oct. 31, according to reports, to vote on the question of
issuing $25,000 high-school-building bonds. These bonds
were awarded on Aug. 3 to N. W. Halsey & Co. of San
Francisco at 102.15 (V. 91, p. 419), but were subsequently
refused by them, it is stated, because of a technical error in
the issuance of the bonds.
Wood County (P. O. Bowling Green), Ohio.—Bond Sale.—
On Oct. 24 the $50,000 5% coupon public-highway-improve¬
ment bonds described in V. 91, p. 1053, were sold to Stacy &
Braun of Toledo^at 101.945.
Following are the bids:
1202
THE CHRONICLE
Stacy & Braun, Toledo.__$50,972 75 Field, Longstreth & Co.,
Breed & Harrison, Cincln. 50,055 00
Cincinnati
$50,885 00
New First Nat. Bk., Colum 50,940 00 Otis & Hough, Cleveland. 50,860 00
Prov.Sav.Bk.&Tr.Co.,Cin_ 50,940 00 Weil, Roth & Co., Cin... 50,830 00
Davies-Bertram Co., Cin. 50,026 00 Western-German Bk., Cin 50,756 50
Farson, Son & Co., Chic.. 50,900 00. Tlllotson & Wolcott Co.,Cl 50,730 35
Maturity $5,000 each six months from March 1 1911 to Sept. 1 1915
Inclusive.
Wooster, Wayne County, Ohio.—Bond Election.—The
voters of this city, it is stated, will be asked at an election
to be held Nov. 17 to pass upon a proposition to issue $25,000
bonds to be used for the purpose of constructing a water-works
plant.
Bonds
Authorized.—Reports further state that an issue
$5,000 bonds was recently authorized by the City Council
purchase land for the building of a municipal water plant.
Denomination $500. Date Dec. 1 1910. Maturity Dec. 1 1920.
Worland, Big Horn County, Wyo.—Bonds Offered by
of
to
Bankers.—The German-American Trust Co. of Denver is
offering to investors $15,000 6% 15-30-year (optional) water
These securities are part of an issue of $40,000 bonds,
bonds.
of which this company has already disposed of $25,000.
Denomination $1,000.
Date July 1
the City Treasury and In New York.
Assessed valuation $245,000.
1910. Interest semi-annually at
Total debt (this Issue), $40,000.
Wynot, Cedar County, Neb.—Bonds Voted.—An election
held Oct. 11 resulted in favor of the question of issuing $8,000
water bonds.
The vote was 37 “for” to none “against.”
man), Mont.—Bond Sale.—An issue of $1,500 6% 3-5-year
(optional) school-building and furnishing bonds was recently
awarded to the State Board of Land Commissioners of Mon¬
tana at par.
Denomination $100. Date July 1 1910. In¬
terest semi-annual.
LXXXXI.
Bassano School District, Alberta.—Debenture Sale.—This
district has sold $15,000 6% 20-year debentures to Nay <fe
James of Regina.
Brandon, Man.—Debenture Election Proposed.—This place
an election shortly for the purpose of having the
voters pass upon a by-law providing for the issuance of
$50,000 debentures.
will hold
Castor, Alberta.—Debenture Offering.—Proposals will be
Auxier, Secretary-Treasurer,
and $5,000 funding 5% de¬
received until Dec. 1 by Geo.
for $7,500 town-hall-buildings
bentures.
Date Sept. 15 1910.
principal and Interest.
The Issue Is repayable in 20 yearly Installments o*
No debenture debt at present.
Last revised as¬
sessment, $440,000.
Dauphin, Man.—Debentures Authorized.—It is said that
by-law has been passed by Council to issue $11,000 5%
debentures repayable in 20 annual installments.
a
Delisle, Sask.—Debenture Sale.—Nay & James of Regina
6% 15-year fire-protection debentures
thus being 95.666. Denomination
$100.
Date July 26 1910.
Interest annual.
Diamond City School District, Alberta.—Debenture Offer¬
ing.—This district is offering for sale $17,000 6% 20-year
have purchased $1,500
for $1,435—the price
debentures.
Yellowstone County School District No. 28 (P. O. Cush¬
[VOL.
J. I. McDermott is
Secretary-Treasurer.
Dunnville, Ontario.—Debenture Offering.—Proposals will
be received until 8 p. m. Nov. 1 by J. W. Holmes, Town Clerk,
for $30,000 4^% school debentures, repayable in 30 annual
installments of principal and interest at the Canadian Bank
of Commerce in Dunnville.
Elmira, Ont.—Debenture Sale.— G. A. Stimson & Co. of
$2,000 sidewalk and $2,500 bridge
5% debentures, due part yearly for 20 years.
Galt, Ontario.—Debenture Sale.—On Oct. 14 the $66,000
4 ]/2% 30-year hydro-electric-power debentures described in
V. 91, p. 983, were awarded to Osier & Hammond at 101—
a basis of about 444%.
Gull Lake, Sask.—Debenture Sale.—Nay & James of,
Regina were recently awarded $6,000 5^% 10-year deben¬
Toronto has been awarded
Canada, its Provinces and Municipalities.
Amherstburg, Ont.—Debenture Sale.—Reports state that
the Dominion Securities Corporation of Toronto has pur¬
chased $15,762 5% debentures, due part yearly for 20 years.
Barons, Alberta.—Debenture Sale.—The $2,000 6% 10offered on Oct. 22 (V. 91, p. 1054), wrere
& James of Regina.
year debentures
awarded to Nay
NEW LOANS
NEW LOANS.
$949,000
STATE OF MARYLAND
TREASURY
DEPARTMENT,
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 proposals for
$949,000 Series “C" of the said Loan, being
balance unissued of said Series “C”.
MThe State Roads Loan” will be dated
February
1, 1910, bear Interest from August 1, 1910,
of
Three
and
One-Half
Per
on
at the
Centum per
annum, payable semi-annually
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
WATER BONDS
BONDS
Sealed bids will be received by the undersigned
up to 5 o’clock p. m. on Monday, November 28,
1910, for the purchase of all or any portion of a
block of $400,000 of “water bonds of the City
of Salem,” all of said bonds being of the denomina¬
tion of $1,000 each and drawing Interest at the
rate of 5 per cent per annum, payable-seml-
Notice Is hereby given that the Town of Conrad
will oiler for sale to the highest bidder bonds In
the sum of Twenty-Five Thousand
($25,000)
dollars.
Said bonds redeemable as follows:
$3,000 in five years; $10,000 in fifteen years; and
the balance at the expiration
of twenty years.
Said bonds to be issued in denominations of
$1,000 each, not to exceed 6 per cent interest,
annually, and to bear date of issue payable 25
years from said August 18,
1910, at Salem,
Oregon; principal and Interest payable In United
States gold coin.
The city reserves the right to
reject any and all bids.
The said bids will be
considered by the Common Council of said city
after 7:30 p. m. on said 28th day of November
W. A.
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
Annapolis.
The right is reserved
to reject any and all bids.
AUSTIN L. CROTHERS,
W. B. CLAGETT,
Governor.
MOORES,
City Recorder of Salem.
year 1920, and the whole debt will be payable on
the first day of February, 1925.
Tne debt is
OR BEFORE 12 O’CLOCK NOON OF THE
TWENTY-SECOND DAY
OF
NOVEMBER,
1910, and must be at a price, 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
some
on
responsible banking Institution for
10 per cent of 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 prioe in the proportion which the amount
each has bid for bears to the whole amount of
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
F. WM. KRAFT
LAWYER
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,
Town Clerk.
Dated, Conrad, Teton County, October 12, 1910
$500,000
City of Atlanta, Georgia,
Specializing in Examination of
Municipal and Corporation Bondi
ISIS FIRST NATIONAL BANK BLOCK.
OHIO AGO, ILL.
4y2% BONDS
Sealed bids will be received until noon, TUES¬
DAY, NOVEMBER 15th 1910, for all or any
4H%
Eart
onds.
of $500,000
of Atlanta,
For full City
Information
and Georgia,
bidding blank,
apply to
J.
H. GOLDSMITH,
City
BLODGET & CO.
Comptroller,
Atlanta, Georgia.
BONDS
€0 STATE STREET, BOSTON
e’OKKK^T & co
BANKERS
80 PINE STREET, NEW YORK
STATE, CITY & RAILROAD BONDS
411 ChMtn.t SI.. PH1LADKLPHI4
Municipal and
Corporation Bords
MUNICIPAL BONDS
Safest investments
1S1
La Salle Street, Chicago
MUNICIPAL AND RAILROAD
BONDS
Comptroller of the Treasury.
LIST ON APPLICATION
R. T. Wilson & Co.
SEAS0NG00D A MAYER
$3 WALL STREET
Mercantile Library Building
CINCINNATI
a
t>»
Municipal and
Corporation Bonds
McCOY & COMPANY
MURRAY VANDIVER,
Treasurer.
NEW YORK
NEW LOANS.
$400,000
$25,000
CITY OF SALEM, OREGON, Town of Conrad, Montana,
Annapolis, October 20, 1910.
rate
tures.
known.
Yielding from
AX£\ til
^/v
Write for
Circular.
ULEN, SUTHERLIN & CO.
BANKERS
CHICAQO
BSTABLISHED l««5
H. C. SPEER & SONS CO.
First Nat. Bank Bldg., Chlcaga
SCHOOL,
COUNTY AND
MUNICIPAL BONDS
O0T. 39
THE CHRONICLE
1910.]
1203
High River, Alberta.—Debenture Offering.—Proposals will thirteen issues of 5% debentures, aggregating $431,340,
awarded on Oct. 3 to the Dominion Securities Corporation,
m. Nov. 15 by Geo. E. Mack, SecretaryLtd., of Toronto. See V. 91, p. 1055.
Treasurer, for the following debentures:
be received until 12
$2,900 5% local-improvement debentures, dated Oct.
payable in 20 yearly Installments of principal
1,062 6% focal-Improvement debentures, dated Aug.
payable In 8 annual Installments of principal
1 1910, and re¬
and Interest.
1 1910, and reand Interest.
Jasmin, Sask.—Debenture Sale.—This place has sold
$3,000 6% 10-year debentures to Nay & James of Regina.
Levey, Sask.—Debenture Sale.—Nay & James of Regina
have purchased $1,500 6% debentures, re-payable in ten
annual installments.
Rose Plain School District, Alberta.—Debenture Sale.—
This
district, it is stated, has awarded $2,000 6% debentures
Maturity part yearly
to G. A. Stimson & Co. of Toronto.
for 10 years.
Rosetown,
Sask.—Debentures Proposed.—It is stated
issuing in the near future $14,000
that this place intends
school debentures.
Rouleau, Sask.—Debentures Authorized.—The voters of
Alberta.—Debenture Sale.—Oldfield, Kirby this place have authorized the issuance, it is stated, of
& Gardiner, of Winnipeg, are reported as the purchasers of $45,000 water-works and
$15,000 light debentures.
$127,000 5% debentures.
St. Catherines, Ont.—Debenture Election Proposed.—An
Muenster, Sask.—Debenture Sale.—An issue of $2,500 election is likely to be held in this place in January 1911,
5)4% 10-year debentures was disposed of recently to Nay & according to reports, for the purpose of submitting to the
James of Regina.
voters a $75,000 water-works debenture proposition.
Neebing, Ont.—Debentures Authorized.—According to reSt. Paul's School District No. 1545 (P. O. Middle Church),,
orts, Council has passed a by-law to issue $5,000 school de- Man.—Debenture Election.—An election will be held Nov. 1
entures.
to vote on the question of issuing $5,000 school-site and
New Liskeard, Ont.—Debenture Offering.—Proposals will erection debentures.
be received until Nov. 1 by H. Hartman, Clerk, for three
St. Thomas, Ont.—Debenture Election.—A by-law pro¬
issues of 5% debentures aggregating $30,400.
Maturity viding for the issuance of $30,000 debentures to the Monarch
part yearly for 30 years.
Knitting Co. of Dunnville, as a bonus to locate a factory in
New Norway, Alberta.—Debenture Offering.—Proposals this place, will be voted upon at an election to be held Nov. 7*
will be received until Nov. 15 by A. M. Sanders, SecretaryShawinigan Falls, Quo.—Debenture Sale.—The Dominion
Treasurer, for $2,000 6% permanent improvement deben¬ Securities Corporation, Ltd., of Toronto, has been awarded
tures.
Maturity part yearly for 10 years.
issues of $25,000 road, $5,000 water-works and $5,000
Orangeville, Ont.—Debenture Offering.—Proposals will sewer 5% 40-year debentures.
be received for $7,500 4)4% debentures. A. A. Hughson
Strathmore, Alberta.—Debenture Sale.—The $2,000 6%;
is Clerk.
Owen Sound, Ont.—Debenture Sale.—Reports state that coupon fire-hall debentures offered on Sept. 30 (V. 91, p. 750)
were awarded oh Oct. 17 to the Union Bank of Canada at
an issue of $5,000 4)4% 15-year hospital debentures has been
97.50.
Other bids received were as follows:
sold to Campbell Thompson & Co. of Toronto.
Medicine Hat,
Pincher Creek, Alberta.—Debenture Sale.—An issue of
$6,000 6% 20-year debentures was awarded recently, it is
stated, to C. H. Burgess & Co. of Toronto.
Port Arthur, Ont.—Debenture Election.—An election will
be held Nov. 11 to ascertain whether or not the rate-payers
are in favor of converting into 4)4% sterling debentures the
MISCELLANEOUS.
Reynolds, Watson & Co.
Mnicipal aid Corporation Buds
We offer
a
very
exceptional
DRAINAGE
BOND
NETTING
e%
<00 The
CHICAGO
Rookery
Charles M. Smith & Co
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BARK BUILD IN i
CHICAGO
HODENPYL, WALBRID6E & CO.
7 Wall St..
New York
Railroad, Street Ry., Gas A See. Light
SECURITIES
THE AMERICAN MFG. CO
MANILA, SISAL AND JUTE
CORDAGE
65 Wall Street,
-
New York
OTTO JULIUS MERKEL
BROKER
44 AND 44 WALI STREET, NEW YORK
INVESTMENT SBCURlTIMM’
Nay & James. Regina-
_$l,905lGeo. A. Stimson & Co., Tor..$1,850
Westmount, Que.—Debenture Sale.—Reports state that
Oct. 26 the Chairman of the Finance Committee con¬
cluded arrangements with Molson's Bank, representing an
on
English house, for the sale of $1,035,000 4% 44-year deben¬
tures at par, less 1 )4% for underwriting and listing charges.
MISCELLANEOUS.
THE CHRONICLE
fVoi..
gxn*t ffiompautes.
LXXXAI
.
ffijcrmpatties.
united states Trust comm or lev Tort
Chartered MW
Manhattan
Trust
4S and 47 WALL STREET
CAPITAL,
'
SURPLUS AND UNDIVIDED PROFITS
$2,000,000.00
$13,856,870.83
This Company acts as Executor. Administrator. Guardian. Trustee. Court Depositary and In
ether recognized trust capacities.
It allows interest at •wrent rates on deposits.
It holds, manages and Invests money, securities and other property, real or personal, for estates
corporations and Individuals.
Company
_
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
WILFRED J. WORCESTER, AsBt. Sec.
HENRY E. AHERN, Secretary.
CHARLES A. EDWARDS, 2d Asst .Sec
TR VSTICKS.
JOHN A. STEWART. Chairman oi the noon.
Gustav H. Schwab.
Lewis Cass Led yard.
Frank Lyman,
Lyman J. Gage.
James StlUma**
Payne Whitney.
John Claflln.
Edward W. Sheldon.
John J. Phelps.
Chaunoey Keep
W Bayard Cutting.
William Rockefeller.
Alexander E. Orr
VrtUtam H. ifsey Jr..
William D. Bloane.
Temporary Offices
Georre L. Rives.
Arthur C. James.
William II. Kingsley*
William Stewart Tod
113 BROADWAY
Ogden Mills
Fgerton L Wlnthrop
WALL STREET
Fidelity Trust Company
CORNER NASSAU
NEWARK, N. J.
Resources Over $29,000,000
UNITED STATES
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts
MORTGAGE & TRUST
COMPANY
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
NEW YORK
General
Banking and Sayings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
CAPITAL,
$2,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
CENTRAL TRUST COMPANY
Administrator, Guard¬
in all Fiduciary
Capacities.
Certifies Muni¬
ecutor,
ian
of NEW YORK
54
Wall Street
and
cipal and Corporation Bonds.
Capital and Surplus, $18,000,000
SS Cedar St.
(erf which $17,000,000 has been earned)
Authorized
B'way St TSrd 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*
to act
SURPLUS,
$4,000,000.00
lSSth St. * 8th Ave.
as
Industrial Trust Company
Providence* R* I.
CAPITAL
SURPLUS
$8,000,000
8,000.000
OFFICERS.
Tyrus P. Brown, President
Arthur L. Kelley. Vice-President
H. Martin Brown. Vloe-Prealdent
Otis Everett. Vloe-President
Joshua M. Addeman. Vice-President
Ward E. Smith. Treasurer
Chas. H. Manchester. Secretary
H. Howard Peeper, Asst Treat.
Frederlok B. Wilcox .Auditor
BOARD OF DIRECTORS.
'tomuel P. Colt
Herbert N. Fenner
Olney T. Inman
J. Milton Payne
William R. Duoee
Eben N. Littlefield
Richard A. Robertson
Otis Everett
roshua M. Addeman
C. Prescott Knight
fames M. Scott
Jesee H. Metcalf
William H. Perry
John J. Watson Jr.
Arthur L. Kelley
Charles H. Allen
H. Martin Brown
John B. Branch
Teorge F. Baker
William P. Chapin
CHARTERED 1864
Onion Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner 38th Street/
With Modern Safe Deposit Vaults
Capital $1,000,000
Snrpins (earned) $7,737,000
ALLOWS INTEREST ON DEPOSITS.
Acts
ss
leorge M. Thornton
Executor, Guardian, Trustee, Administrator and In all
Fiduciary Capacities
on behalf of Individuals, Institutions or
Corporations.
2yrus p. Brown
Chas. C. Harrington
Louis H. Comstock
Angus McLeod
Esra Dixon
Howard O. Sturgis
Edward D. Pearce
Englehart C. Ostby
gitrancial.
CHICAGO
i
Capita] and Surplus
$13,600,000
Adrian H. Muller & Son,
..
......
AUCTIONEERS.
I
Regular Weekly Salem
OF
Pays 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
Otfk*. No. M WILLIAM STREET.
Corner Pine Street.
xvn
THE CHRONICLE
Oca?* 20 1910.
Qvnst (Companies.
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMPANY
BOSTON, BASS.
BOSTON, MASS.
APITAL. $1,000,000
SURPLUS. $2,000,000
Safe Deposit Vaults
Authorized to act as Executor, and to receive
and hold money or property In trust or on deposit
tram Courts of Law or
Equity Executors.
Administrators, Assignees Guardians. Trustees
Oorporatio ns and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed on Deposits Subject to
Check
OFFICERS
DAVID R. WHITNEY, President
CHARLES F. CHOATE, Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER. Vloe-President
JAMES R. HOOPER. Actuary
HENRY N. MARR. Secretary
FRED. W ALLEN, Asst. Seo. A Treas
THOMAS E. EATON. Asst. Treas.
FRANCIS R. JEWETT. Trust Officer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts
BOARD OF DIRECTORS
William Endloott. Chairman
James G. Freeman
Walter C. Baylles
Morris Gray
Alfred Bowdltch
James R. Hooper
S. Parker Bremer
Ernest Lovering
Timothy E. Byrnes
Charles F. Choate
Henry H. Proctor
Alexander Cochrane
James M. Prendergast
Herbert M. Sears
Philip Dexter
Lawrence M. Stockton
William Endloott Jr.
Francis W. Fabyan
Nathaniel Thayer
William Farnsworth
Eugene V. R. Thayer
David R. Whitney
Frederick P. Fish
George Wigglesworth
S0S-605-507 Chestnut St.. Philadelphia
$1,000,00*
CAPITAL
HENRY G. BRENGLE, President.
JOS. S. CLARK. Vice-President.
OHAS. P. LINE AWE AVER. Sec. A Treas.
ADAM A. STULL. Chairman of Board.
DIRECTORS.
Henry G. Brengle.
James Crosby Brown.
JohnCadwalader.
E. W. Clark Jr..
Eckley B. Coze Jr..
Edwin 8. DlxonJ
Eugene L. Ellison,
Joseph C. Fraley.
Harry C Francis.
Henry L. Gaw Jr..
Howard S. Graham.
J. Levering Jones.
Malcolm Lloyd.
John Mcllhenny.
Richard Wain Metrs.
Clement B- Newbold
John W. Pepper.
William F. Read.
Adam A. Stull.
Edward D. Toland.
Laurence Minot
Galen L. Stone
Maxwell Norman
Nathaniel Thayer
Hon. Richard Olney
Lucius Tuttle
Edwin Farnham Greene
Robert T. Paine 2nd
H. O. Underwood
Robert F. Herrick
Henry Parkman
Eliot Wadsworth
Henry S. Howe
Andrew W. Preston
Stephen M. Weld
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.
Secretary. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
Samuel Carr
B. P. Cheney
Hon .T. JeffersonCoolidge
T. Jefferson Coolldge Jr.
Charles E. Cottlng
AJvah Crocker
Authorized Reserve
$10,000,000
CHARTERED ISSft.
Individual and
Corporation Accounts.
Acts as Trustee of Corporation Mortgages.
Depositary under Plans of Reorganization.
Registrar and Transfer Agent.
Assumes entire charge of Real Estate,
Safes to Rent in Burglar-Proof Vaults.
MANAGERS:
Edward J. Berwtnd.
Effingham B. Morris.
John A. Brown Jr.,
Randal Morgan,
John B. Garrett.
Edw. T. Stotesburv,
William H. Gaw,
Charles E. Ingersoll,
Francis I. Go wen.
John S. Jenks Jr..
Geo. H. McFadden,
Henry B. Coxe,
Henry TatnaU.
Edgar C. Felton,
Isaac H. Clothier,
William T. Elliott.
Thos. DeWitt Cuyler,
W. Hlnckle Smith,
C. Hartman Kuhn,
B. Dawson Coleman,
James Speyer.
Broad and Chestnut Streets.
General
Sober!
O'Reilly. M.
D.
'm. D.J.Orthwein.
President
Grain
Wm. D. Orthwetn
Co.
Henry W. Peters. President Peters Shoe Co.
H.C.
Pierce. Chairman Board
Waters-PleroeOUOe.
August Schlafly, August Schlafly
R. H. Stockton. President Majestic4s Sons.
Mfg. Co.
DISCOUNT AND GUARANTEE SALES
CARRY NO
WILLIAM RAY A CO.
Successors to
GEO
COTTON MERCHANTS
PHILADELPHIA.
Commission Merchants.
COTTON, GRAIN, PROVISIONS and COFFEE
COTTON
Geo. H. M9Fadden &
COPELAND A GO..
CENTRAL
TRUST COMPANY
R. H. ROUNTREE & 00,
OF ILLINOIS
$2,500,000
EXCHANGE BUILDING.
NEW YORK.
-
•
NEW YORK
ROBERT MOORE A CO.
56 Beaver
Street. New York.
ORDERS FOR FUTURE DELIVERY EXE0UTED IN NEW YORK AND LIVERPOOL
BXOHANGES.
OOTTON PURCHASED FOR SPINNERS* USB.
NEW YORK.
FREDERIC ZEREGA A CO.
Bremen Correspondents:
MCFADDEN BROTHERS A CO.
9avre Correspondents:
fOCIETE D’IMPORTATION ET DE COMMIS’N
Siegfr. Gruner & Co.
COTTON MERCHANTS
17 South William
COTTON MERCHANTS
Exchange Place.
Bro.,
Liverpool Correspondents'
GWATHMEY A CO.
22
^"“5
GOODS FOR OWN ACCOUNT
COTTON BROKERS.
Hardware Go.
Offices, 67 Greene Street
tt Cotton Exchange
New York.
Orders for future delivery contracts executed on
die New York and Liverpool Cotton Exchangee.
thu«
Murray Carleton. President Carleton Dry Goods 0«,
Charles Clark.
Horatio N Davis, President
Smith*Davis Mfg.Oe
John D Davis, Vice-President.
David R. Francis, Francis, Bro. 4s
Co.
S. E. Hoffman, vloe-President.
Breckinridge Jones. President.
Wm. G. Lackey. Vice-President and
W. J. McBride. V.-Pres. Haskell 4; Bond Offlcei
Barker Car O#
Nelson W. McLeod.
Vice-President Grayson
McLeod Lumber Co.
Saunders Nor veil. President
Norvell-Shaplelfk
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
Rowland G. Hazard,
Nelson W. Aldrich,
Frank W. Matteson.
Samuel R. Dorranoe.
R. H. Ives Goddard Jr.
HERBERT J. WELLS. President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAMWELL, Secretary.
PRESTON H. GARDNER. Trust Office
GYRUS E. LAPHAM. Asst. Sec’y.
JOHN E. WILLIAMS, Asst. Seo’y.
HENRY L. SLADER, Asst. Seo’y.
G. A. HARRINGTON. Aast.Tr.Offio
ALBERT G. MANG, Secretary.
MALCOLM McDOWELL. Asst. Secretary.
WILLIAM O. EDENS. Asst. Secretary.
JOHN k LBHNHARD. Asst. Trust Otfloer.
DIRECTORS.
John I. Beggs. President
Milwaukee Light Heat a
Traction Co.
1
Wilbur F. Boyle. Boyle 4s Priest.
James E. Brock. Secretary.
NEW YORK
Waiter R. Callender.
Edward Holbrook.
James E. Sullivan,
Benjamin M. Jaoksot
John R. Freeman,
Charles S. Mellon.
Robert W. Taft,
Webster Knight,
Stephen O. Edwards
CHARLES G. DAWES, President.
A. UHRLAUB, Vloe-President.
EDWIN F. MACK. Vtoe-Prestdent.
WILLIAM T. ABBOTT. Vice-President.
WILLIAM R. DAWES. Cashier.
L. D. SKINNER. Asst. Cashier.
WILLIAM W. GATES. Asst. Cashier.
JOHN W. THOMAS. Asst. Cashier.
TRANSACTED.
L. F. DOMMERICH & CO.
Howard O. Sturges.
Stephen O. Metcalf.
-
FINANCIAL AND FIDUCIARY
BUSINESS
dtottott.
$2,000,000
Capital and Surplus
PROFirs)^8»e40»00U
A GENERAL
iulius
!olia Wells.
S. Walsh. Chairman of the Board.
PHILADELPHIA
DIRECTORS.
CHICAGO
Fourth & Pine Sts., St. Louis.
CAPITAL, SUltPLUS leg
AftO
and
on
E. 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.
$2,000,000
Lyman B. Goff.
and Rhode Islandi
Mississippi Valley Trust Co.
Corporations.
PROVIDENCE. R. I.
Robert H I. Goddard.
Robert I. GammeU.
William B. Weeden.
Edward D. Pearoe.
Robert Knight.
John W. Danielson.
Herbert J. Wells,
Executor. Administrator. Trustee.
Assignee and Receiver.
Financial Agent for Individuals or
as
Interest Allowed
Rhode Island Hospital
Trust Company
Royal O. Taft,
Agent for Trust Companies in Maine. Massachusetts
Company.
Capital and Surplus,
William D. Wlnsor.
Samuel F. Houston.
SURPLUS
Reginald Foster
George P. Gardner
Girard Trust
Joseph R. Wain wrlght,
CAPITAL
$12,500,000
DIRECTORS.
T. JEFFERSON COO LID GE 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. SaltonauJ
F. Lothrop Ames
Philip Dexter
George E. Keith
Herbert M. Sears
Oliver Ames
George A. Draper
Gardiner M. Lane
C. W. Amory
Frederic C. Dumaine
Col. Thos. L. Livermore Quincy A. Shaw
Howard Stockton
William Amory
William Endloott Jr.
Arthur Lyman
Philip Stockton
Charles F. Ayer
Wilmot R. Evans
Charles S. Mellen
Charles A. Stone
John S. Bartlett
Frederick P. Fish
Acts
The Trust Company
of North America
.
Capital and Surplus
Street,
NEW TORS.
Mason Smith & Co.,
OTTON COMMISSION MERCHANTS
*EW ORLEANS, LA.
HBVFflll,TBNN.
DALLAS, TEX.
of Spot Cotton.
Orders for Contracts Ex*
outed In New Orleans. New
rs
York.
Liverpool and Havre Markets.
'xvn
'K.
>
THE CHRONICLE
•
(jpatftcrtx.
financial.
WOODWARD
& STILLMAN
COTTON MERCHANTS
16 to 22 WILLIAM
STREET,
AMERICAN COTTON OF ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
Established 1876
BANKERS]
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Negotiate and Issue Loans for Rail¬
Corporations.
Buy and sell Bonds suitable for
roads and Established
Investment.
206 LA SALLE
ST, CHICAGO
COMMISSION MERCHANTS
16 to 22
E.H.ROLLINS&SONS
Established In 185ft.
Henry Hentz & Co.
Fiscal Agent for Cities and Corporation*
William Street, New York.
List
Execute Order* for Future Delivery
_
Cotton Exchanges.
Also orders for
COFFEE
At the New York Co flee Exchange
GRAIN AND PROVISIONS
j
on
Application
COTTON
At the New York, Liverpool and New Orleans
v
lxxxxi
Utoimcial.
Fversz a Company
NEW YORK
•
[Vol.
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
Hubbard Bros. & Co.
CHICAGO CITY MORTGAGES.
HIGH-GRADE INCUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION J RAILROAD BONDS.
COFFEE EXCHANGE BUILDING
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
SEND FOR CIRCULARS.
HANOVER SQUARE.
NEW YORK
PEABODY, H0U6HTELING & CO.
COTTON MERCHANTS
181 La Salle Street,
Liberal Advances Made
on
Cotton
Consignments.
F. H. PRINCE & CO.
CHICAGO.
(Established 1805.)
BANKERS
Hopkins, Dwight & Co.
COTTON
and
BOSTON, MASS.
GEO. H. BURR & CO.
COTTON-SEED OIL.
Room 52 Cotton Exchange Building,
NEW YORK.
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
Commercial Paper
43
Exchange Place
-
New York
Members of New York and Bo
on
Stock Exchange
LEHMAN. STERN & CO.. Limited, New Orleans.
LEHMAN BROS.
Nos. 16-22 William Street, New York.
Members oj the Stock, Cotton,
and Produce Exchanges, Nets
CoJJee
York.
Orders executed on the above Exchanges, as well In
New Orleans. Chicago and foreign markets.
Stephen M. Weld & Co.,
COTTON MERCHANTS,
82-92 Beaver Street,
-
New York City
St Louis
Chicago
Boston
Philadelphia
Kansas City
San Francisco
vtrvu&utffe&AwerZislc:
Sullivan Brothers & Co.
Municipal and Corporation Bonds
BONDS
FIRST NATIONAL BANK BLDG.,
CHICAGO
427
Bremen. ALBRECHT. WELD & CO.
SMITH &. HAYNE
Frank B.
Hayne (In Commendum)
Cotton Brokers.
COTTON EXCHANGE BUILDING,
NEW ORLEANS, LA.
MUNICIPAL & COR¬
PORATION BONDS
STREET,
BONDS FOR INVESTMENT
financial.
The
AudtFcompany
of New York
City Investing, Building
165 Broadway, New York
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHI LA. NATIONAL BANK BLDG.,
PHILADELPHIA
Telephone 6780 Cortland.
New York Life
<
machinery, etc.
Financial and cost systems
of accounts.
*\
BANKERS AND BROKERS
Broadway,
-
Naw York
MEMBERS OF
NEW YORK STOCK EXCH4NGB.
HOLLISTER, FISH & CO
BANKERS
Members New York Stock
Exchange
Investment Securities
Nassau & Pina
H. T. HOLTZ & CO.
Appraisals of values of lands, buildings,
k
Stock Exchange
Streets, N. Y
DominicH A DominicK
Building, Chicago
Audits and examinations.
(Philadelphia
W. T. HATCH & SONS
71
Devitt, Tremble & Go.
1
[Established 1682.]
CHICAGO
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS, NEW YORK
AND LIVERPOOL MARKETS.
(Other cotton cards on preceding oage.)
Members
Chas. S. Kidder & Co.
182 LA SALLE
STREET
PHILADELPHIA, PA.
BOSTON, PHILADELPHIA, PROVIDENCE
Liverpool, WELD A CO.
CHESTNUT
116 BROADWAY
Members New York Stock Exchange.
MUNICIPAL AND
CORPORATION BONDS
United Bank Note Corporation Stock*
FIRST NATIONAL BANK
RICHMOND. VIRGINIA
•
$2,000,090
JOHN B. PURCELL, President
JOHN M. MILLER JR., V.-Prest. & Cashier
FREDERICK B. NtlLTING, 2d Vloe-PTCSt I
Capital and Earned Surplus,
„
Correspondence Invited
Correspondence Invited
171 LA SALLE
DICK BROTHERS & CO.
BANKERS AND BROKERS.
80 Broad St..
•
Now York,
Members of N. Y. and Phha. Stock Exchange* *
New York, New Orleans and Liverpool Cotton
.
STREET, CHICAGO
Exchangee, New York Coffee Exchange
and
Chicago Board of Trade.
@FedFRASER