Full text of Commercial and Financial Chronicle : October 30, 1909, Vol. 89, No. 2314

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Tin'

0ntrmrci$
IN C L U D IN G
Railway & Industrial Section
Bankers’ Convention Section

Bank & Quotation Section
Railway Earnings Section

Electric Railway Section
State and City Section

NO. 2314

SATURDAY, OCTOBER 30 1909.

VO L 89.

gftje Chronicle.

Week ending October 23.

Clearings at—

Inc. or
Dec.

1907.

PUBLISHED WEEKLY.

Terms o f Subscription— Payable in Advance

$

S
215,568,644
24,291,550
15,562,264
11,718,921
10,229,358
6,594,146
4,988,200
4,013,007
3,161,532
2,317,453
1,714,985
2,073,926
991,444
847,308
720,144
706,262
659,871
599,356
463,419
442,192
360,502
352,479
442,152
308,440
363,006
318,281
199,650
237,115

C h ica go................
Cincinnati______
For Ono Year ......................................................................................... ...............
C le v e la n d ............
For Six M onths.........................................................................................................
•’
D etroit............... .
European Subscription (including postage)................................................. -to uu
Milwaukee______
European Subscription .-ix months (including postage)..........................
i •>”
Indiananolis____
Annual Subscription in London (including pi stage)............................... |'*s.
C olu m b u s...........
Six Months Subscription in London (including postage)........................-tr i t s .
Toledo ..................
P e o r ia ..................
Canadian Subscription (including postago) ............................................... ft11 ou
Grand R a p id s ...
S u b scrip tion in c lu d es fo llo w in g S u p p lem en ts—
D a y t o n ................
Evansville .........
B \nk and Q uo tation (monthly)
I S path and C ity (semi-annually)
K ala m a zo o_____
H aii .w a y a n d in d u str ia l (quarterly) E lectric R a il w a y (3 times yearly)
Springfield, 111 . .
R a il w a y E arnings (monthly)
| B a n k RuS’ c o n v e n tio n (yearly)
Fort W a y n e ____
A k r o n ..................
Terms of Advertisin'!— Per Inch Space
L exin gton ............
Rockford ............
Transient matter per inch spaco (LI agate lines).......................................... $4 20
( Two Months
(S tim es)...........................
22 00 You ngstow n____
South Bend.........
_.
,, _
.
) Three Months (13 tim es)................................ 20 00
Bloom ington____
Standing Business Cards < slx Months
(26 tim es)................................ no 00
Q u in c y ................
( Tw elve Months (52 tim es).................................. 87 00
Canton..................
Decatur _______
C H IC A G O O F F IC E —P. Bartlett, 513 Monadnock Block; Tel. Harrison 4012.
Springfield, Ohio
L O N D O N O F F IC E —Edwards & Smith, 1 Drapers’ Gardens, E. C.
Manstielil____
Jackson _____
W I L L I A M IS. D A N A C O M P A N Y , P u b l i s h e r s ,
Jacksonville, 111.
I*. O . B o x 9 5 H .
F r o n t , F i n e a n d D e p e y s tc r S t s .,
N ew Y o rk .
Danville________
Ann Arbor...........
Adrian ................
Published every Saturday mornin • hy W I L L I A M B. D A N A C O M P A N Y
W illiam B. Dana, Pieshlent; Jacob Seibert J r., Vico-Pres. and Sec.; Arnold
Tot. Mid.W est
G. Dana, Treas. Addresses ot all.Oilico of the Company.

283,525,595
25,988,700
19,860,942
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
1,058,511
872,540
918,400
773,142
733.124
1,032,205
539,562
516,687
610,000
810,000
399,300
438,001
410,642
375,000
267,021
377,561
183,865
23,757

246,193,940
25,833,450
15,156,663
12,967,830
11,001,384
6,099,563
4,850,300
3,546,990
3,106,589
2,182,700
1,677,219
1,934,229
982,262
884,700
780,056
625,000
547,400
677,724
693,165
381,995
432,775
438,971
598,005
321,489
345,185
373,375
412,756
307,210
311,880
140,402
25,569

+ 31.0
+ 28.9
+ 17.7
+ 21.2
+ 22.7
+ 18.6
— 3.0
+ 16.7
+ 20.6
+ 2.9
+ 49.2
+ 19.6
+ 11.9
+ 46.9
+ 41.3
+ 8.3
+ 48.9
+ 41.3
+ 19.4
+ 39.0
+ 3 5 .4
+ 24.2
+ 26.9
+ 10.0
— 9.1
— 13.1
+ 21.1
+ 3 1 .0
— 7.1

138,661
30,000

154,555

398,444,913

341,230,825

+ 16.8

371,988,698

310,400,162

San F ra n cisco..,
Los Angeles_____
Seattle ________
P o r tla n d _______
S pok ane.. ...........
Salt Lake C i t y ...
T a co m a ...............
Oakland...............
Helena ...............
Sacramento.........
Fargo ..................
San D ie g o ...........
Sioux F a lls .........
F resn o................
San Jose...............
Stockton .............
North Yakima . .
B illin g s........... ..

39,061,157
13,516,898
13.411,016
9,223,296
4,970,437
7,187,148
6,122,966
1,653,089
1.050.000

+ 8.8
+ 37.9
+ 48.4
+ 3 1 .8
+ 44.6
+ 25.6
+ 29.6
+ 4.7
+ 27.4
+ 21.3
— 8.4
+ 17.4
+ 28.2
+ 50.3
+ 1 9 .9
+ 43.1
+ 37.3
+ 50.4

43,900,973
10,579,398
12,820,714
8,591,304
3,528,261
6,754,091
5,038,236
2,355,403
1,243,674

42,878,572
10,512,869
10,314,934
5,932,247
2,610,805
5,588,481
4 548,563
3,621,812
816,488

825,227
950,000
1.005.000
942,848
595,862
703,214
416,130
347,800

35,893,119
9,802,804
9,039,261
7,000,000
3,437,276
5,723,490
4,722,11"
1,578,878
823,98.5
917.160
900,559
809.000
784.000
627,325
496,925
491.302
303,096
231,208

Total Pacific..

103,094,299

83,581,509

CLEARING-HOUSE RE TURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all clearing houses of the U. S.
for week end. Oct. 30 have been $3,571,243,012, against $3,­
642,424,008 last week and $2,583,611,570 the week last year.
1909.

1908.

S I,870,838,449
141,092,271
120,500,048
27,000,927
232,571,009
62,993,292
16,079,812

S I,260,482,289
110,584,145
88,029,590
19,614,711
195,913,885
52,297,824
12,408,414

+ 48.9
+ 2 7 .6
+ 36.9
+ 3 7 .7
+ 18.8
+ 20.5
+ 3 6 .8

Seven cities, 5 days...............................
Other cities, 5 days...................................

S2.477,975,808
473,278,461

S I,739.330.864
378,472,619

+ 42.5
+ 25.0

Total all cities, 5 days..........................

S2,951,254,269
019,988,743

S2,117,803,483
465,808,096

+ 39.4
+ 33.1

Total all cities for w eek......................

S3.571,243,012

$2,583,611,579

+ 38.2

Clearings— Returns by Telegraph Oct. 30.

%

The full details for the week covered by the above will be
given next Saturday. W e cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Oct. 23, for four years.
Week ending October 23.
Clearings at—
1909.
New Y ork --------- 2,286.791,955
155,369,479
Philadelphia-----52,058,092
Pittsburgh...........
29,598,009
B a ltim ore...........
9,789,455
Buffalo_________
5,948,132
Albany......... ........
6,437,732
W ilm ington_____
3,388,847
R och ester---------2,316,785
S cran ton _______
2,425.125
S yracu se.............
Reading................
1,646,345
W ilm ington.........
1,575,62,8
1,567,155
Wilkes-Barre . . .
1,882,011
Wheeling ...........
1,334,342
H arrisburg.........
907,848
Y o r k ....................
1,437,647
Trenton ..............
824,725
E r i e ......................
598.036
G recnsburg.........
601,170
C h ester................
525,700
B ingham ton-----483.037
A ltoon a................
280,000
F ran k lin .............

1908.
,599,252,133
112,574,413
40,792,804
23,783,886
7,953,503
5,918,448
5,410,889
3,270,918
2,240,630
1,975,943
1,350,424
1,120,574
1,452,221
1,476,538
1,091,215
789,674
1,369,946
644,509
490,869
415,635
449,900
425,064
260,000

Inc. or
Dec.

A.O
+
+
+
+

38.0
27.6
24.4
23.1
+ 0.5
+ 19.0
+ 3.4
+ 3 .4
+ 22.8
+ 21.9
+ 39.5
+ 7.9
+ 27.5
+ 22.3
+ 14.9
+ 5.0
+ 27.9
+ 21.8
+ 45.4
+ 16.8
+ 13.0
+ 10.0

1907.
$
,103,641 ,524
150,844 ,067
58,768 ,255
32,802 ,749
9,363 ,317
7,812 ,854
0,034 ,861
3,847 ,954
2,420 ,218
2,642 ,277
1,513 ,894
1,440 ,161
1,359 ,180
1,173 577
1,115 ;095
849 134

,006,019,593
151,888,009
53,268,171
27,771,779
7,970,485
6,560,079
5,097,517
3,535,401
2,094,583
1,610,250
1,259,193
1,325,354
1,137,001
949,165
769,717

794,489
623,954
563,205
500,400

647,151
4 1 1,769
545,158
447,900

292,790

315',290

Kansas C it y ____
Minneapolis. .
O m aha______
St. Paul_____
D enver...........
St. J o s e p h ...
Dos Moines . .
Sioux City............
W ich ita_____
Topeka .........
D avenport...........
Lincoln _____
Cedar Rapids . . .
Colorado Springs
Pueblo ...............
F r e m o n t_______
D u lu t h ........... ..

732,422
600,000

341,431

88,151,734

39,221,949
34,771,028
12,638,356
13,021,618
10,317,193
4,993,743
3,151,596
2,264,739
1,540,325
1,027,789
1,630,459
1,312,208
682,724
821,756
782,999
403,996

29,036,902
23 236,569
9,768,300
10,210.908
6,975,076
4,526,010
2,376,944
1,735,630
1,006,472
889,828
942,317
1,087,211
554,840
510,614
444,019
299,366

82,233,216
20,094,491
11,693,296
14,009,515
7.633.000
7,413,047
*12,075,881
9.780,556
8,657,998
7,587,351
3.225.000
4,095.935
3,797,419
2,537,508
2,606,098
2,634,051
1,922,045
1,951,525
1.600.000
1,545,645
, 2,373.375
1,407,445
619,598
1,099,985
475.812
213.069,792

+ 33.5

128,582,478

93,601,066

64,204,470 + 28.1
15,499,704 + 29.6
10,087,330 + 15.9
— 9.6
15,501,332
9.265.000 — 17.6
6 400,000 + 15.8
6,085,484 + 98.4
6.330,609 + 54.5
5,905,443 + 46.6
+ 9.8
6,911,292
+ 7.1
3,011,465
2,592,542 + 58.0
2,583,867 + 47.0
2,058,117 + 23.3
1,919,321 + 35.8
1,918,709 + 37.3
1,527,230 + 25.9
1,387,769 + 40.6
1,365,822 + 17.2
1.328.001 + 16.4
1,290,925 + S3.9
967,292 + 45.5
+ 5.
585,518
825,561 + 3 3 .2
393,611 + 20.9

69,254,056
20,498,585
13,153,284
16,297,371
7.703.000
6.500.000
5,832,287
7,010,917
7,716,221
4,803,444
4,250,319
3.578.738
3.120.738
2.664,257
1,959,302
2.050.000
1,784,920
1 316 425
1,354,129
1,486.498
1,346.448
859,920
566,626

58,560,445
24,757,023
12,279,820
16,481,145
10,074,000
5,630,710
5,279,994
6,234,725
7,801,903
3,753,133
3,390,211
2,327,083
2,717.122
2.344,060
1,422,063
1,821,136
1,664,581
1,119.320
1,090,268
1,733,120
1,109.906
871.199
427,244

+ 25.5

185,107,485

171,890.211

114,709,041

169,846,414

3,642,424,608 2,691,227,820

"+

3 + 3 3,382,680,713 3,192,071,779

Outside N. Y _ . 1,355,632,653 1,091,975,687

"+

2 +1 1,279,039,189 1,126,052,086

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
550,846

142,992,113
11,076,000
3,106,863
2,092,922
1,618,299
1,601,607
1,429,489
1,360,247
969,407
562,506
410,377

+ 24.0
+ 22.0
+ 13.6
+ 29.6
+ 39.1
+ 12.6
+ 25.2
+ 13.3
+ 42.7
— 8.2
+ 32.8

178,266,579
10,915,000
3,516,844
2,465,625
2,450,000
2,436,875
1,771,930
1,362,698
926,913
631,476
. 468,027

171,039,100
9,050,400
2,982,270
2,211,304
1,710,909
1,713,973
1,459,357
1,014,084
673,349
496,459
442,101

L o t a l New Eng

200,861,795

167,234,830

+ 23.0

205,211,407

193,398,375

Total Canada .




534,514
451",018

97,370,810

153,160,554

Boston ................
P r ov ld cn co-------H artford .............
New H aven.........
Springfield.. .
P o rtla n d ____
Worcester —
Fall R iver—
New B e d fo r d __
L o w e ll.................
H olyoke...............

+ 41.5 2,394,413,775 2,334,230,231

732,334

+ 23.3

Tot. oth.W est.

Total Southern

262,597,922
26,765,200
18,210,205
14,424,752
13,026,999
7,643,776
5,981,100
4,064,653
3,284,029
2,441,711
1,790,044
2,131.643
1,092,620
861.595
850,214
790,000
606,840
680,755
970,843
492,958
472,818
533,080
435,094
404,461
397,352
380,204
239,580
249,589

41,034,601 + 41.5
58,071,898
25,172,572 + 27.6
32,126,339
12,357,359 + 36.5
16,872,838
9,771,262 + 25.1
12,221,395
9,395,607 + 12.8
10,600,000
4,606,278 + 35.9
6,260,497
2,758,688 + 47.9
4,080,180
2,341,157 + 27.0
2,973,160
1,453,633 + 109.9
3,050,000
— 3.7
1,171,700
1,216,343
1,173,779 + 29.0
1,513,235
1,505,734
1,144,677 + 31.5
836,061 + 30.1
1,087,873
642,904
549,902 + 16.9
508,543 + 24.1
630,890
— 9.4
388,585
351.911
8,147,113 Not Included In total

St. Louis.............
New Orleans____
L ou is v ille......... ..
H o u s t o n .............
G a lv e sto n ...........
Richmond .........
Atlanta ................
M em phis..............
Savannah ...........
Fort W orth.........
Nashville ...........
Augusta................
N o rfo lk ...............
Birm ingham ____
Little R o ck .........
Charleston...........
K n o x v ille ______
Jacksonville____
Chattanooga . . .
M o b ile ..................
O klahom a...........
M a c o n .................
Beaumont .........
A u stin ..................
V icksbu rg...........

Canada—
Montreal ...........
Toronto .............
W innipeg............
Vancouver...........
O tt a w a ...............
Q uebec.................
H a lifa x ........... ..
Ham ilton.............
C a lg a ry ...............
St. John...............
Victoria ........... .
L o n d o n ............. .
Edm onton......... .
Regina ...............

Total M iddle.. 2,507,793,255 1,814,525,190

1 , 112,211

+ 0.6

33,673,3S4 + 30.8
44,046,153
25,000,926 + 24.9
31,217,432
16,315,776 + 49.3
24,365,858
4,152.449 + 78.4
7,406,978
3,689,883
+ 3.0
3,801,992
+ 7.4
2,224,773
2,389,039
2,055,853
— 3.8
1,976,961
1,980,672
1,582,316 + 25.2
2,342,253
1,613,371 + 42.5
+ 5.9
1,479,414
1,567,573
1,225,824 + 56.6
1,918,489
1,100,969 + 27.0
1,398,156
890,900, + 20.7
1,075,358
931,070 Not Included In total

35,934,723
26,057,182
15,137.072
4,482,941
3,241,092
2,391,228
1,923,302
1,770,142
1,442,341
1,280,761
1,356,353
1,271,698
810,513

36,704,634
26,872,519
15,308,961
3,383,644
3,144,276
2,128,055
1,586,757
1,521,690
1,491.445
1,253,773
881,860
1,069,729
804,971

125.4S7.094

97,102,948

96,152,310

95,035,838

+ 3 2 .0

“ RAILW AY AND INDUSTRIAL SECTION.”
A new number of our “ Railway and Industrial
S ection /’ revised to date, is sent to our' subscribers
to-day. In the editorial columns of the same will be
found articles on the following subjects: “ Operating
Railway Mechanical Departments Econom ically/’
“ The Outlook for a Car Shortage” and “ The Hawley
System.”

THE FINANCIAL SITUATION.
After the scare of the previous two weeks, there has
been this week a distinct change for the better in the
tone of the financial markets both here and abroad.
The improvement has been in progress all through the
week, and altogether the modification of views with
respect to the situation has been so great as to amount
to an almost complete transformation. It had been
expected, or rather predicted, that on Monday of this
week the monetary tension abroad would eventuate
in adverse developments of a serious nature. For
one thing, a further advance in the discount rate of
the Bank of Germany was to have occurred. We
were told that we would have to count upon a 6% rate
in that quarter, against the present figure of 5% . No
move, however, of that kind was made. That in it­
self was considered a highly encouraging fact. But
what served perhaps most to improve sentiment was
the fact that the Bank of England was able to secure
the bulk of the £717,000 gold offered in the open mar­
ket. This was only the second time in some weeks
that the Bank of England had been able to secure any
considerable quantity of the offerings of South African
gold. It also became evident that the South Ameri­
can demand upon London for gold was being diverted,
at least in part, to New York, and some additional en­
gagements of gold at this centre for Brazil were made.
What attracted particular attention was that these
‘ engagements, and also considerable shipments of gold
to Canada, were received with entire equanimity here.
Those who had been talking so glibly of American bor­
rowings abroad seemed surprised that the New York
banks should be able to spare gold for these purposes.
They had been looking for a financial upheaval with
any renewal of the gold outflow. Instead, there was
not even so much as a flurry in the money market,
while the stock market has shown a rising tendency
through the week. Furthermore, it was evident from
the bank statement of the previous Saturday that our
banks have greatly strengthened their position. For
two successive weeks the Clearing-House institutions
have been adding to their money holdings, and for
three successive weeks they have been increasing their
surplus reserve through a contraction in loans, with
the resulting decrease in deposits. Between Oct. 9
and Oct. 23 the money holdings of the banks, accord­
ing to the actual statements of their condition, in­
creased from $321,829,600 to $326,613,700. Surplus
reserves, which Oct. 2 were down to only $1,627,525,
increased by Oct. 9 to $7,246,800, Oct. 16 to $15,­
538,375 and Oct. 23 to $16,607,350, showing, on the
whole, striking improvement. From day to day since
Monday the foreign financial situation has continued to
improve. In its weekly statement on Thursday the
Bank of England showed a further loss in bullion of
£536,051, notwithstanding the purchases of bullion in
the open market on Monday, but this created no un­




easiness, as the events of the week had proved that,
under the higher discount rate, the Bank had succeeded
in shifting to other countries some of the demand for
gold usual to the autumn.
Relief was also felt over the fact that the Stock Ex­
change settlement in London has been concluded with­
out failures of consequence. So far as the English
political situation has been an influence in inducing
the Bank of England to take measures to protect its
gold reserves, encouragement no doubt was derived
from the circumstance that on Wednesday Premier
Asquith announced in the House of Commons that the
House would adjourn from Nov. 5 until Nov. 23,
thus precluding the possibility of a general election
before the new year. An additional favorable de­
velopment came yesterday in the news that the byeelection the day before in the Bermondsey division of
Southwark, a Parliamentary borough of London,
(where three years ago there had been a Liberal land­
slide) had resulted in the return of the Union candi­
date by a large plurality in a three-cornered fight.
This Unionist victory was considered a severe blow to
the supporters of the budget.
The improvement abroad has been reflected in our
own market. Money rates have been distinctly
easier, while foreign exchange has been less strong.
What has contributed in no unimportant degree to
strengthen the feeling of confidence here— and among
the well-informed there has never been any absence of
confidence— has been the accumulating evidence of
the utter groundlessness of the stories of inordinate
borrowing abroad on finance bills to aid speculation in
our stock market. Those who have been claiming
that such a situation exists have been getting more
and more reckless in their statements. One critic
asserted that American speculators were borrowing
not less than $500,000,000 in this way. If this critic
should make a tour of the foreign banking houses in
this city and set some one to make a similar tour of the
banking houses in London, he would quickly discover
that a claim for even one-tenth of the amount named
could not be substantiated. Leading foreign houses
all agree with Mr. Schiff and are in absolute accord in
saying that no undue amount of loans is held abroad
on American securities. It appears to be true that
the rise in discounts in London has led to some realizing
by European holders of American securities, and it is
possible that the shipments of such securities to this
side may have encouraged the supposition that there
was excessive borrowing abroad.
What extreme and illogical statements are put out
to support the theory of large borrowing is illustrated
by the argument that inasmuch as our Clearing-house
banks have so greatly contracted their loans in recent
weeks, that must be taken as evidence that these
loans have to that extent been transferred to the
other side. Such arguments entirely overlook the
fact (1) that the contraction must in part at least
represent liquidation. The calling of loans on an
extensive scale, such as has happened lately, always
leads to the closing out of many Stock Exchange
commitments. It must also be remembered (2) that
part of the loans were transferred to the trust com­
panies and (3) that when money rates are high some
Western institutions always make direct loans to
borrowers here and that such loans therefore would
not appear in the statements of any of the New York

financial institutions. Finally (4) such criticisms
fail to note that what is considered a contraction in
loans may, in part at least, not be loan contraction
at all.
Our banks in their weekly statements
do not report loans alone.
They report loans
and investments, or, more specifically, loans and
discounts, and stocks, bonds, mortgages, &c.,
owned.
It is well known that during the period
when call money ruled at such extremely low
figures the banks made very extensive invest­
ments as the best way of finding profitable em­
ployment for their funds.
With money rates
high and profitable, however, such holdings would
be disposed of and the money invested in the ordinary
way. There is reason to think that precisely this
has happened in some measure. However, it is not
worth while pursuing this thought any further. The
fallacy concerning inordinate borrowings abroad is
evidenced by the fact that already reports are being
published saying that London is “ again” lending
here, the statements coming from the very people
who have been claiming that London is distrustful of
American speculation.

that the present year’s rise in the shares must be
attributed rather than to speculation or speculative
manipulation.
While in Texas recently, Mr. Taft said some timely
things regarding the indispensableness of transporta­
tion and the folly of warring upon railroads, the
chief factor in that work. Such cautionary talk—
which ought to be remembered and heeded when the
menace of “ further legislation” becomes active again—
seems highly appropriate in Texas, where the hostile
emotion is high; yet, according to a Houston journal,,
more than one-half the area is still wanting, or almost
wanting, in transportation means, and some fifty
counties have no railroad mileage whatever. A recent
statement has also been made concerning a point which
has hardly been thought of by the public, namely that
besides the direct effect of taxation and other hostile
legislation upon revenues of railroads, the existence
of such legislation requires an increase in legal expen­
ses. 1 his is true in the field of insurance also; every
additional report, every change compelled in account­
ing, every intervention by statute in the business
operations, means increased outlay in watching and
complying with the demands. In insurance this
means more expense, which must be put into premiums;
in railroading, it means more cost, which must ulti­
mately go into freight rates.
At bt. Louis Mr. Taft also said some wholesome
things regarding deepening of waterways. Every
measure must be considered, he said, “ on the general
principle of good to the entire country,” and not in
the least as to its probable benefit to some section
or its effect on the political future of some Congress­
man; as if grown bolder by this assertion, he is saying
(as he goes down the -Mississippi) that it is a practical
question whether that stream is worth deepening, as
against carriage by rail.
That river and harbor improvements have long been
pushed through Congress by log-rolling is well known;
therefore, a notice by the Executive that the country
as a whole is alone to be considered hereafter is of im­
portance so far as he will adhere to it and is able to
carry it out. Yet it is an assurance pleasant in itself,
and is vastly suggestive if one reflects upon it. What
if “ the general principle of good to the entire country”
were brought down from generality to become the
rule of conduct? Each Congressman represents his
State or district; what if he represented, not the in­
terest and efforts of his section in wresting legislation
towards local advantage, but the views of his con­
stituents as to what policies arc best for the entire
country? What if the tariff, for example, ceased to
be the local issue which General Hancock called it in
1880, and was ridiculed for so doing, and was studied
only as a national policy?
Mr. Taft said more than he realized when he used a
phrase which ought to be the touchstone for deter­
mining all elections and all public policies, and which
(if it is not too Utopian for hope) may some day
convert political party into a means to an end instead
of itself the end.

Besides the improvement in the tone of the financial
markets another favoring circumstance has been
the excellent quarterly statement made public after
the close of business on Tuesday by the United States
Steel Corporation. The exhibit is fully up to ex­
pectations. The strong points are (1) the large
earnings disclosed, (2) the growth in the number
of unfilled orders on the books of the subsidiary
concerns, (3) the fact that the company was able to
make a contribution out of earnings for additions
and improvements in amount of $10,000,000 and
(4) the further increase in the dividend on the common
shares. The dividend has been made 1% for the
quarter, placing the common stock on a 4% dividend
basis, against a 3% basis in the preceding quarter
and a 2% basis previously. The net earnings for the
September quarter reached $38,246,907, as against
only $29,340,491 for the June quarter and $22,921,268
for the March quarter and $27,106,274 for the Septem­
ber quarter of last year. The contribution of $10,­
000,000 out of the quarter’s earnings, to be applied
in improvements and new work, is the first money set
aside for this purpose out of earnings since the panic
quarter, namely December 1907. After allowing
for this appropriation and providing for the regular
charges to sinking funds and to depreciation and
reserve funds (amounting to $8,817,950) a surplus
remains for the quarter, over and above the dividend
at the rate of 7% per annum on the preferred stock
and 4% per annum on the common stock, in amount
of $2,155,113.
With reference to the unfilled orders on hand, the
aggregate for September 30 1909 is given as 4,796,833
tons, against 4,057,939 tons on June 30, 3,542^595
tons on March 31, 3,603,527 December 31 1908 and
3,421,977 tons on September 30 1908. For the
current month orders have been coming in at a much
more rapid rate, it is announced, than during Septem­
ber, and therefore it is likely that the total of un­
filled orders at this date is even larger than it was at
Justice Rufus W. Beckham, who died suddenly on
the close of September. Evidently the Steel Corpora­ Sunday, came into the law by inheritance as well as
tion has a long period of prosperity ahead of it; and by fitness, for his father was an eminent jurist in this
it is to this, and to the results already achieved, State and a member of the Court of Appeals when he



perished in a shipwreck, 36 years ago. Justice Peckham went to the Appeals from the Supreme Court,
and after eight years in the highest judicial position in
this State he was appointed to the highest Court of the
country by President Cleveland in 1895.
As a jurist, he deserved the tributes now paid to
his memory by his former associates. He was one of
the ablest of American jurists; faithful to the ancient
traditions concerning the responsibilities of the trust,
rigidly putting bias aside, determined to do justice.
Some of his decisions were notable: for instance, the
early one in which he applied to railroads the old
Anti-Trust Act, which was made to cover them by
stretching its terms, although they were not in the
.thought of its framer; the oleomargarine case, in which
he held that a State cannot restrain the sale of an article
brought from without in original packages; and the
opinion that members of a local Exchange did not vio­
late the Anti-Trust Act by making sundry business
agreements among themselves. Perhaps the bent of
Judge Peckham’s mind was distinctly legal; at least,
he had individuality and independence and was a
man of character.
His death recalls the impending changes in the
Supreme Court. In the order of length of service, its
membership now stands thus: Justice Harlan of
Kentucky, born in 1833 and appointed in 1877 by Mr.
Hayes; Chief Justice Fuller of Illinois, born 1833, ap­
pointed in 1888 by Mr. Cleveland; Justice Brewer of
Kansas, born 1837, appointed in 1889 by Mr. Harri­
son; Justice White of Louisiana, born 1845, appointed
in 1894 by Mr. Cleveland; Justice McKenna of Cali­
fornia, born 1843, appointed in 1898 by Mr. McKinley;
Justice Holmes of Massachusetts, born 1841, appointed
in 1902 by Mr. Roosevelt; Justice Day of Ohio, born
1849, appointed 1903 by Mr. Roosevelt; Justice Moody
of Massachusetts, born 1853, appointed in 1906 by
Mr. Roosevelt. The longest term of service is now
32 years; the shortest is three. Except the latest
appointee, no member is under 60, and three have
passed the age of 70. The three appointed in the new
century and also (with a single exception) the youngest
in years as well as service, and constituting a third of
the whole, have come forward during what may be
called a term of new views, in which the tendency is
strong towards new constructions, to fit new and sup­
posedly exigent cases.
A pending amendment in New York reminds us once
more of the miserably inadequate salaries of this high
Court, the Associate Justices receiving only $12,500
and the Chief Justice $13,000. The pecuniary sacri­
fice required of able men is large, and thus far the honor
has been maintained high enough to compensate, in a
sense which is at once worthy and unworthy. This
final tribunal has, on the whole, embodied the steadi­
ness which has long made it the spirit of the higher
courts to “ stand by the decisions.” The two-word
motto which expresses this is based on the fact that
the principles of justice remain from generation to
generation, rooted in the first attainment of civiliza­
tion plus liberty. The high courts are our last resort;
when they fail, the governmental scheme fails too, and
a new start must be made. Any taint in men’s think­
ing or conduct which makes towards what some are
pleased to call a “ progressive” jurisprudence is an
assault upon the foundations. It is impossible to
state too strongly the value of that jealousy which



should defend the loftiness and independence of the
judiciary, no matter what currents may sweep over or
what assumed exigencies assail our American life.
We have commented above on the subject of Ameri­
can borrowing abroad on finance bills. It is well
enough to remember that the subject is not without its
complexities, and that very close estimates are difficult.
The operations incidental to borrowing money in
Europe for use in New York were a decade ago carried
on by comparatively few bankers, mostly those of the
highest standing, and it was then possible to estimate
with reasonable accuracy the amount of our current
indebtedness abroad; but of late years so many firms
have entered this field that it is no longer practicable
to collect adequate data. In former times interna­
tional borrowing was a simple process based frequently
on the credit and reputation of the New York banker
handling the transaction, securities being rarely shipped
over-see. To-day, however, numerous Stock Ex­
change houses not actually in the foreign exchange
business get credit in London, Berlin and Paris and
raise money there by depositing collateral with the
New York correspondents or agents of the lenders or
by shipping certificates. These bills very often do not
appear on the market here but are discounted direct.
Other ways have also been devised of conducting inter­
national monetary transactions and of shifting security
so that it is impossible to compute the exact amount
of our obligations at any given time.
The’ absence of precise information, however, does
not justify the extravagant estimates that have been
put forward in discussing the Bank of England’s atti­
tude towards American speculation. Influential bank­
ers, well qualified to judge, declare that the suggestion
that our “ speculative borrowing abroad” aggregates
several hundred million dollars, is a gross exaggeration.
One director of the Bank of England states that not more
than $10,000,000 has, in his opinion, been raised at
that point for stock market purposes in New York
and that the drawing of strictly finance bills has not
even approached the total of 1906-07. The head of a
leading international banking house here, recently
home from Europe, also condemned the sensational
statements published concerning inordinate contracting
of debts abroad. Furthermore, the president of one
of the largest national banks in the United States has
caused an investigation to be made on this important
subject, and it can be here stated that he discovered
nothing to substantiate the exaggerated estimates to
which currency has recently been given; there has been
fairly extensive drawing upon European credits, par­
ticularly in London and Paris, but accounts can be
met, he is convinced, without any disturbance when
our cotton and grain, now commanding very high
prices, are shipped to supply the extensive needs of
Great Britain. While it is true that American securi­
ties held abroad have in a measure been liquidated
during October, or since bank rates in Berlin and
London were advanced, there is no reason to fear that
European investors will not become purchasers of our
securities, including new corporate and municipal
issues, when the monetary situation shall again change.
As noted above, distinct improvement has taken
place this week in the money markets of Europe while
our Clearing-House banks have materially strengthened

their position during October. The week opened with
a significant decline of one-half penny per ounce in
the price of new bar gold on the London market, the
Bank of England, for the second time in many weeks,
being allowed to take the whole offering (S3,585,000)
at 77s. 9J4d., which is only a farthing above the price
at which the British Mint always stands ready to buy
the metal in any quantity and from any source. The
absence of competition reflects how effectual the 5%
discount rate has proved in turning the foreign
exchanges in London’s favor. 1(rom Oct. 14, the day
on which the 4% rate was declared, until Oct. 22, the
day following the declaration of the 5% minimum,
exchange on London advanced from 4.86Ks to 4.87^8
in New York, from 25 fr. 17c. to 25 fr. 22c. in Paris
and from 20m. 44pf. to 20m. 49pf. in Berlin. One
immediate effect was a sharp curtailment of “ other
securities,” which is equivalent to our loan account, a
substantial gain in reserve and the diversion of South
American gold demands to New York. Whereas the
Bank of England’s rates of reserve to liabilities had
fallen to 45.21% on Oct. 7 and to 44.09% Oct. 14, it
stood at 47^8% a week later, although this week there
has been extensive lending by the Bank in connection
with the Stock Exchange settlement and the ratio has
dropped back to 45.80% . The prospects now are, it is
thought, that a 6% rate will not be necessary unless
cither internal or international political disturbances
arise. The influence of stock speculation here on the
Governors of the London institution has undoubtedly
been much over-rated. No developments calculated
to aggravate the political situation in Britain have
occurred this week; but, on the other hand, a way out
of the threatened deadlock without precipitating a
general election, and all that that would entail, has
not yet opened up. The financial community would
do well to remember, however, that heated battles
between the Liberals and the Conservatives and be­
tween the Lords and the Commons have been fought
many times since the present form of Government was
established, without security markets having thereby
become convulsed. A change in ministers has much
less effect there than a Presidential campaign usually
has here. The distinct victory gained by the Unionists
in the Bermondsey election this week may have a
restraining influence upon the more radical and revolu­
tionary members of the party now in power.
Reports from Paris that the Bank of France is
anxious to lend gold to the Bank of England “ on the
same conditions as in 1907” are interesting, but that
any transaction of the kind will be necessary is not to
be believed. Monetary, speculative and industrial
conditions throughout the world then were in striking
contrast with those existing at the present time.
There had been vast destruction of wealth through
war, earthquake, flood and fire, the investment of
enormous sums of liquid capital in railroad and indus­
trial expansion (especially in the newer countries),
undue extension, not to say abuse, of credit, and,
finally, the shattering of confidenco in American insti­
tutions and investments by an Administration many
of whose acts have since been declared unconstitu­
tional. The panic on the New York Stock Exchange,
not unnaturally, frightened European financial centres
and caused them to liquidate our stocks in large
volume. Under ordinary circumstances this would




have involved the shipment of gold in payment, but
New York, in its straits, readily paid what was, some­
what loosely, termed “ a premium on currency,” an
emergency device that enabled our banks and bankers
to draw $108,000,000 gold during November and
December 1907 from every financial centre in the
world, despite repeated advances in foreign bank rates
to 7% at London, 7j^% at Berlin and 4% at Paris.
It was under such conditions that the Bank of England
arranged to sell £3,000,000 British bills (excluding
American financial bills) with the stipulation that they
would be repaid at maturity in gold. Eventually
the French Bank, according to report, received back
its gold in the original packages. But the Bank of
England is most unlikely to enter into similar nego­
tiations at this time, for it has already succeeded in
diverting to New York the heavy demands for gold
that continue to come from Brazil and in retaining
the weekly consignments of new bars from the Trans­
vaal .
The news that the British Government is preparing
to select the first Governor-General for United South
Africa is not without interest to the financial world,
inasmuch as the new order of things may facilitate the
recruiting of a full supply of native labor for the
Transvaal gold mines, and thus enable the mine owners
to increase the output of the precious metal. Ever
since the Boer War the supply of native laborers has
fallen short of the demand, and, as everyone familiar
with the industry knows, an attempt was made to
solve the problem by importing Chinese coolies. The
experiment was not an unqualified success; it never
had the endorsement of the Dutch population, and
during the last two years repatriation of the Chinese
has been in progress. The number of Kaffirs at work
on the Witwatersrand when repatriation began was
just under 100,000, and there were in addition fully
50,000 Chinese employed. Within one year the native
army of laborers increased to 140,000 and the yellow
workers decreased to 12,000. During the current year
the Kaffirs have averaged about 150,000, the maxi­
mum (other than those employed by the contractors)
having been 163,000 in April, and the minimum
less than 145,000 last month, while the re-shipment of
Chinese has been almost completed. The disappear­
ance of the last “ yellow skin,” who was anathema to
the swarthy Kaffir, may witness the return of a con­
siderable number of old “ boys,” as South African
natives are colloquially called, while, as already sug­
gested, the closer co-operation among the various
colonies that will be possible under the Federation
may result in an increase in the labor supply. The
total value of the 1909 output of gold in the Trans­
vaal seems likely to approximate $155,000,000,
against less than $150,000,000 last year, under $140,­
000,000 in 1907, $125,000,000 in 1906, $105,000,000
in 1905 and $80,000,000 in 1904.
The money market has not hardened as the monthend settlements have approached. Interest rates
for call loans, as well as for time maturities, were
lower in the second half of this week than they were
a week ago, notwithstanding that foreign supplies of
credit have been shut off for the present. When,
towards the end of September, call rates suddenly
advanced to 6% , Stock Exchange houses took pre-

cautions by providing themselves with time funds. there has been no sharp fall in sterling, owing in part
Therefore the demand to-day is restricted. The pro­ to the liquidation of our securities in London, Berlin
longed quietness in the bond market has caused the and Amsterdam. Money in London has cost about
postponement of important security issues; and this 4M % plus a commission of % of 1% for every three
has been felt by the money market. Western and months, which brings the total charge up to 5 % % , and
Southern banks have managed to finance the market­ as facilities have been available in New York at 5% —
ing of the crops without drawing heavily either upon occasionally less— there has been considerable paying
ISew Y ork balances or credits, while the rates obtain­ oh of foreign loans. The London Stock Exchange
able on money lent on sound Wall Street collateral settlement involved very little inquiry for cables, yet
have attracted Eastern surplus funds.
the quotation remained around 4 87% most of the
Money on call during the week ranged at 3 % @ 4 ]/1. week despite temporary rises and falls. The sudden
The latter figure was reached on Monday, Tuesday and fluctuations that occurred from one hour to another
Wednesday, but on Thursday, for the first time since on certain days were attributed to aggressive opera­
late in September, the maximum was 4% . The aver­ tions by parties sometimes alleged to be engaged in
age quotation for the week was 4 % . Time loans on manipulating the market. That a short interest is
approved Stock Exchange collateral were not usually still uncovered is generally understood, and whenever
available under 5% until Thursday, but then a very rates decline there is considerable buying. Seldom
large institution offered six months’ accommodation has professional opinion on exchange been more at
at 4% % . Yesterday that figure was quoted for variance than it is to-day, and perhaps this is natural in
shorter periods, with borrowers not disposed to pay view of the extraordinary fact that there was a transi­
more than 4%>%. The terms for ninety-day loans tion from almost the gold-import point to near the
are a shade higher than those for shorter or longer gold-export point within two weeks. At the moment,
maturities. The supply of call money has been in­ particularly in view of increasing cotton and grain
creased by offerings by out-of-town institutions, nota­ exports, the possibility of shipments direct to Europe
bly from Philadelphia, Pittsburgh, Albany and New­ is regarded as remote, unless, of course, political
ark; but any appreciable increase in the absorption troubles become acute abroad or speculation here
or any decided fall in rates would, it is believed, elimi­ should create alarm. New York, however, is sending
nate the apparent surplus supply. Commercial paper gold to Brazil and to Canada. This week S3,475,000
of choice quality is appearing in the market from day gold coin was withdrawn from the Sub-Treasury. Of
to day, but the remunerative rates obtainable on col­ this SI,500,000 was for shipment to Canada and $1,­
lateral loans have tended to diminish the demand 100,000 for Brazil, largely, as explained a week ago, in
from local and New England financial institutions. payment of coffee hurriedly exported to escape the
Chicago has bought moderate quantities, and an incipi­ surtax of 20% to be levied under the valorization plan
ent inquiry is developing among Southern banks that upon all shipments after the outflow has aggregated
have thus early filled the requirements of cotton 9,500,000 bags. Canada is taking a little more gold
growers. The best bills receivable and high-grade coin than usual, but this fact is attributable to business
single names can be negotiated at 5@5>3% for four conditions there quite as much as to the state of ex­
to six months maturities. One standard name was change here.
discounted in considerable quantity at 4 % % , but this
Compared with Friday of last week, when there
is exceptional. Bills yielding 5 % @ 6% are not active. was a sharp break at the close to 4 8715 for demand,
There are very few sixty to ninety day bills in the rates for exchange on Saturday recovered to 4 8765 @
market.
4 8775 for sight, 4 8815@4 8825 for cables and
The Bank of England did not again advance its 4 8350@4 8360 for sixty days. On Monday rates
discount rate, although preliminary intimations that declined about % c., long falling to 4 8330@4 8340,
the weekly statement would be disappointing led cer­ short to 4 8745@4 8755 and cables to 4 8780@4 8790.
tain foreign exchange operators to believe that a 6% On l uesday most rates were lower; long was quoted at
rate might be declared. Open market discountsinLon- 4 8340@4 8350, sight at 4 8720@4 8725 and cables
don have ranged from 4 % to 4 % % , with the rate yes­ at 4 8775@4 8785. On Wednesday there were wide
terday quoted 4 9-16%; at the fortnightly Stock Ex­ fluctuations; at the close long was 4 8320@4 8330,
short 4 8720@4 8725 and cables 4 8770 @ 4 8780. On
change settlement American stocks were charged 6% .
Thursday
sight drafts sold down to 4 87 for a brief
At Paris the open market is 2% % , at Berlin 4 5-16%,
period,
but
later recovered, the close being at 4 8715@
at Vienna 3 % % and at Amsterdam 2 % % . Accord­
4 8720 for demand, 4 8765@4 8775 for cables and
ing to our special cable from London, the Bank of
4 8315@4 8325 for long. On Friday rates were firm
England, notwithstanding-its purchase of all the new
all day and closed about 5 points up.
gold available on Monday, lost £536,051 bullion during
The following shows daily posted rates for sterling
the week and held £32,373,831 at the close of the
exchange by some of the leading drawers:
week. Our correspondent further advises us that the
loss was due largely to exports to South America.
F rl., 1 M on.,
Tucs.,
Wed., Thvrs., F rl..
Oct. 22 Oct. 25 Oct. 26 Oct. 27 Oct. 28 Oct. 20
The details of the movement into and out of the Bank
Brown
160 days 1 8-1
84
84
Bros. & C o____ ___\Slffht.. 4 88
were as follows: Imports, £589,000 from miscellane­ Kidder,
88
88
88
88
88
PeaI 60 days 1 84
81
body
& C o ..
— ISIght. _ 4 88
88
88
ous sources; exports, £1,068,000 (of which £775,000 Bank British
160 days 4 84
8*1
84
North Am erica. . .. I S I g h t .. 4 88
88
88
88
88
88
to South America, £250,000 to Constantinople and Bank
ot
160 days 4 8414
84 14
8414
8414
8414
84
Montreal____
4 88 IS
88
H
88>*
88
M
88
£43,000 to various destinations), and shipments of Canadian Bank
J60 days 4 84 '
84
84
84
84
84
of Commerce.
. . . IS Igh t.. 4 88
88
88
88
88
88
£57,000 net to the interior of Great Britain.
Jleldclbach, Ickel(60 days 4 84
84
84
84
84
Foreign exchange and discount rates here and in
Europe have checked the output of finance bills; yet




lielmcr & C o ..
Lazard
F reres.............
Merchants’ Bank
of C anada.. .

___IS Igh t..
160 days
__ IS Ig h t..
160 days

4
4
4
4
4

88
84
88
84
83

88
84
88
84
88

88
84
88
84
88

88
84
88
84
88

88
84
88
84
88

88
84
88

g-._---------------------------------------------------—-----------------------------------------— ------------------------------------------------------------

•

The market closed on Friday at 4 8320@4 8330 for
long, 4 8720@4 8725 for short and 4 8770@4 8775 for
cables. Commercial on banks 4 8280@4 8290 and
documents for payment 4 82)4 @ 4 82%. Cotton for
payment 4 83@ 4 83)4 &nd grain for payment 4 83)4
@ 4 83)4The following gives the week’s movement of money
to and from the interior by the New York banks.
Net Interior
Movement.

Shipped by
Received by
N . K. Banks. N . Y . Banks.

Week ending Oct. 29 1909.
Gold ..................- ....................................

$10,000,000
1,647,000

$7,172,000 Gain S2,828,000
798,000
849,000 Gain

$11,647,000

S8,021.000 qa in

$3,626,000

With the Sub-Treasury operations and gold exports
the result is as follows:
Net Change in
Bank Holdings.

Out o f
Banks.

Into
Banks.

Week ending Oct. 29 1909.
Banks’ Interior movement as above,
Sub-Treas. oper. and gold e x p o r ts ..

$11,647,000
33,800,000

Total gold and legal tenders............

$45,447,000

$8,021,000 Gain $3,626,000
3,100,000
36,900,000 Loss
$526,000

$44,921,000 Gain

The following table indicates the amount of bullion
in the principal European banks.
Oct. 29 1908.

Oct. 28 1909.
Banks o

E n gla n d..
F ran ce__
Germany..
Russia . .
A u s.-llu n .
S p a in ____
Ita ly . . . .
Netherl’ds
N at.Belg..
Sweden . .
Swltzerl'd.
Norway . .

Gold.

Silver.

Total.

Gold.

Silver.

Total.

jE

£

£
32,373,831
180,649,760
48,652,950
146,177,000
69.355.000
47.147.000
42.663.000
13.318.000
6.276.000
4.380.000
5.032.000
1.831.000

£
36,376,341
131,804,889
42.726.000
121,445,000
48.710.000
15.755.000
36.928.000
7,772,300
4.088.000
4.180.000
4.676.000
1.730.000

£

£
36,376,341
167,394,523
55.026.000
128,018,000
61.267.000
48.697.000
41.353.000
11,758,300
6.132.000
4.180.000
4.676.000
1.730.000

32,373,831
144,812,400
36,966,050
139,255,000
57.374.000
16.069.000
38.463.000
10.525.000
4.184.000
4.380.000
5.032.000
1.831.000

35,837,360
11.686.900
6.922.000
11.981.000
31.078.000
4.200.000
2.793.000
2.092.000

35,589,634
12.300.000
6.603.000
12.557.000
32.942.000
4.425.000
3.986.000
2.044.000

Total week 491,265,281 106,590,260 597,855,541 456,191,530 110,446,634 566,638,164
Prev. week 482,575,145 105,612,447 588,187,592 455,031,550 111,089,574 566,121,124

TIIE COTTON CRISIS—GROWER AND
CONSUMER.
Curtailment of operations in the cotton mills of the
United States is becoming a quite general subject of
discussion, owing to what is considered to be the
unwarranted advance in the price of the raw material,
and the efforts making to force values still higher.
It is to be said of course that were the crop situ­
ation really as bad as persistently disseminated
reports make it out to be, there might be reason
for as high a range of value for the raw material as
now obtains, and an even further advance; and that
then the value of goods would advance and the
spinner be without cause for complaint. But there
is a strong and widely increasing tendency among
well informed judges not to accept the recent reports
of condition as correctly representing the crop situation;
while prepared to admit a probability that the ulti­
mate yield for 1909-10 will be short of last year, they
cannot accept as a measure of the season’s production
the interpretation placed upon the recent condition
report of the Department of Agriculture.
If one wants to get even an approximate idea of the
production of any year’s cotton crop, he can only do so
by going back and studying the June condition and
acreage report. At that date this year our own conclu­
sion (fully confirmed by official and private crop re­
ports) indicated that the general condition of the plant
especially as to stand and depth of root, was at
least moderately better than the previous year’s
crop at the same date. During June continuous and
excessive rains over portions of the Atlantic and Gulf
States interfered with proper cultivation and there­



fore hindered satisfactory growth, but the succeed­
ing month was drier, and improved conditions were
reported in the wet sections, only in Louisiana
some damage from boll-weevils was claimed. Con­
currently, however, (in July) the Texas drought
began to be a factor, causing less favorable advices;
but in August the situation showed improvement in
that State, rain having been reported in most sections,
with the precipitation on the whole of a character
to benefit cotton. September again proved hot and
dry, and it is to be presumed that deterioration of
condition in Texas and the Southwest resulted.
Still we cannot find in this season’s official weather
conditions in Texas any warrant for the remarkable
deterioration the recent Government reports indicate,
and the same remark would seem to apply with
equal force to Arkansas, Oklahoma, Mississippi and
Louisiana. We are asked to believe that during the
period from June 1 to August 25 there was in the
Belt as a whole a drop from a condition better than
last year to 63.7% of a normal— the lowest figure on
record for the 25th of August. Even less cred­
ible would seem to be the general average of 58.5%
of a normal as reported for Sept. 25, with Louisiana
at 39, and Texas, Mississippi, Arkansas and Oklahoma
ranging from 52 to 55% . That being so, we can see
no explanation or possible justification for such a prac­
tical crop disaster as those reports indicate. We can
only conclude that the gatherers of the data made the
error of drawing conclusions from the worse aspect
of spotted localities instead of taking a general average.
In the midst of wide deterioration of a cotton crop
within certain dates a reporter often finds it hard to
get away from the prevailing impression of ruin.
As going to prove that, we may mention that a large
planter in Arkansas, one who has been found to be
careful in his judgment of the situation, states that
“ while there may be some shortage this year, the crop
is much better than it is represented to be by the
alarmists.” Other States furnish like discordant
views. Of course it is risky to make any attempt to
estimate the yield in advance of a general killing frost.
And yet the sensationally low figures current for a
month or more past have evidently been a factor in the
recent advance in prices. Not only is it true that
no definite idea as to the size of the crop can be
arrived at prior to general frost, but the difficulties
in the way of reaching conclusions are great enough
even after a killing frost has occurred. As proof
of this we have only to refer to the annual estimates
of production of the Department of Agriculture
issued after frost time, which have almost invariably
been lower than the crop has actually turned out to
be, and ofter very materially lower.
Aside from believing that the condition of the crop
was on September 25 better than as oficially repre­
sented, we must confess inability to form any exact
or even approximate idea of what the word “ normal,”
as used by the Department of Agriculture, stands for.
We can only assume it to represent 100, but in that
case we would have 100 standing for something very
different each year. Applying the latest interpreta­
tion of normal, the indication for the current season
would be very little less than 12,000,000 bales.
Suppose we take that figure (nearly 2,000,000 bales less
than the previous crop) as a measure of this year’s
American yield, there would as yet be no cause for

alarm. The shortage, it is confidently anticipated,
will be largely made up by heavier crops in India,
Russia, &c., thus providing for the year’s consump­
tive requirements without materially encroaching upon
the large world’s surplus (visible and invisible) carried
over at the close of last August. This being the appar­
ent situation, there would seem to be no reason for
users of cotton to feel anxiety as to ability to secure
supplies as needed. Certainly no cotton famine is
threatened, and it is upon the fostering of some such
idea as a famine that the present efforts to advance
prices of the staple still further are based.
As regards curtailment of production, the movement
for which was recently started in the United States
by the Arkwright Club of Boston, some progress
is reported. The movement, which, as intimated
above, was started on account of what is considered
the inordinately high prices for cotton, was intended
to embrace not only New England, but all sections of
the country, North and South. The plan is for each
mill entering the agreement to, in its own way, shut
down 224 hours between the time of its signature and
Aug. 1 1910. A large number of the mills at the South
are reported to have already shut down on account
of the high price of the raw material, and some of the
mills in New England have done likewise. But our
advices to-day indicate that the movement, as a
general movement under the Arkwright Club agree­
ment, halts because Fall River waits for New Bedford,
and New Bedford manufacturers, having large orders
ahead and somewhat ample stocks of cotton, hesitate,
and even refuse, to come into the movement. At the
same time the curtailment movement does not entirely
fail, even in New England, for it is being put in
operation independently by a considerable number
of the factories in the northern part of that section,
some of them going on short-time and others closing
altogether. This movement, of course, has nothing
to do with the curtailment abroad, which started some
time back in Great Britain and has since made progress
there and on the Continent to some extent .

GREAT NORTHERN RAILWAY IMPROVEMENT.
In its annual report for the fiscal year ending June 30
1909 the Great Northern Ry. shows just such improve­
ment in net revenues as it was certain would come the
moment conditions should improve sufficiently to
admit of it. In reviewing the report for the previous
year we stated that the company would probably
never be called upon to endure more trying con­
ditions than those through which it had passed in the
two years from 1906 to 1908. This remark had refer­
ence not merely to the industrial depression which
had settled over the whole country following the
panic of 1907, but also to a series of adverse influences
in large part peculiar to the Great Northern itself, or
at least to the railroad systems in the section of the
country traversed by the lines of the Great Northern.
The effect of the adverse influences mentioned had
been more particularly in the direction of adding
greatly to the expenses and in preventing curtailment
of the same when business depression made it neces­
sary that savings and economies in operating costs
should be enforced. In 1906-07 business in December
1906 and January and February 1907 had been prac­
tically paralyzed in Northern Minnesota and North
Dakota by weather conditions of unparalleled severity



— extreme cold with a fall of snow of greater depth
than ever before known. The unusual expenditures
resulting from that circumstance and from increases
in wages and enhanced prices of materials and supplies
and of everything else entering into the operating
accounts of the railroads served in that year to cause
an enormous increase in operating cost. The conse­
quence was that a gain of $3,868,122 in gross earnings
for the twelve months was attended by an augmenta­
tion of no less than $6,709,853 in expenses with a
further augmentation of $279,327 by reason of higher
taxes. In 1907-08, unfortunately, the situation did
not improve. The winter then, to be sure, was mild,
but, on the other hand, rains and floods of great ex­
tent were encountered over parts of the system and
reductions in passenger rates were forced upon the
company in many of the States, and in addition
general trade prostration intervened as an all-con­
trolling unfavorable feature. Owing to the changes
in accounting methods introduced by the Inter-State
Commerce Commission, it is impossible to make direct
comparisons between the results for that year and
those for 1906-07, but from some revised figures
given for 1906-07, it appears that gross earnings from
operations in 1907-08 fell off $1,837,504, while ex­
penses, instead of undergoing reduction, recorded a
further increase of $522,551, causing therefore a loss
in net in the sum of $2,360,056, besides which taxes
had increased $237,256, making the total falling off in
net $2,597,312. Combining this with the $3,121,058
loss in net in 1906, the shrinkage in net income for the
two years amounted to almost 5% million dollars—
$5,718,370.
It is necessary to bear these antecedent results and
conditions in mind in order to understand the im­
provement in results during 1908-09. The distinctive
feature of this latter is the curtailment effected in the
expenses. What has been said certainly makes it
obvious that ample basis existed for very important
decreases in the expense accounts. Except for such
saving there would have been no improvement what­
ever in the net, for the gross earnings suffered a further
though slight decrease on top of the decrease of the
year preceding. Briefly, gross earnings fell off $751,­
610 but expenses were cut down in amount of $3,­
592,748, thus producing a gain in the net of $2,841,­
138.
The further decrease of $751,610 in gross earnings
after the decrease of $1,876,755 in 1907-08, deserves
a word of comment. It indicates that business in
Great Northern territory has not recovered sufficiently
to bring results back to the normal. Taking the year
as a whole there was no recovery at all, as is evident
from the fact that gross revenues declined for two
successive years. Recovery, however, did take place
the latter part of the year. It should be said that the
decrease in 1907-08 would have been much heavier
except for the fact that in the earlier part of that fiscal
year gains were still the rule and these gains served
to offset to that extent the tremendous losses which
came the latter part of the year. Similarly, in 1908-09
noteworthy improvement came during the last five
months, but this improvement did not quite equal
the heavy losses sustained during the first seven
months.
In reviewing the report we are necessarily obliged
to deal with the twelve months as a whole, and the

OOT. 30 1009.]
fact that revenues for 1908-09 were smaller than for reason— that is, the trains hauled an average of 502
1907-08 and yet smaller than for 1906-07 is a fact of tons of revenue freight in 1908, against 509 tons in
no little significance. The statement, too, applies to 1907-08. There was a large falling off in shipments of
all departments of the road’s business. The passenger the lower class of freight, and particularly iron ore,
revenues were smaller, likewise the freight revenues, & c., as a result of which a larger proportion of dead
and the road carried a diminished number of tons of weight had to be hauled by the trains.
We may note that, according to the company’s
freight, both actually and as measured by the numbei
of tons moved one mile, and it also moved a less num­ monthly returns, gross earnings for the three months
ber of passengers one mile, though the mere number to Sept. 30 of the new or current fiscal year have in­
of passengers carried was a trifle larger. Such a creased $2,647,777 over the corresponding three
general shrinkage indicates that even in the remoter months of 1908. From this it is easy to judge what
sections of the country trade prostration did not fail the outlook is for the fiscal year 1909-10. Still, even
to leave its impress. The average man is very apt on the basis of the income results for 1908-09, as dis­
to get the idea that trade depression is not a matter of closed by the present report, the showing is a not un­
great moment to agricultural communities in the satisfactory one. The increase in net earnings,
Western half of the United States, since manufacturing brought about through the reduction in expenses, has
industries are not very prominent in those parts. of course contributed in no unimportant degree to
There has been, too, much to encourage such a notion. make the income showing good. For in 1908-09 the
Crops have not been bad, prices of farm produce company had to pay dividends in full on the $60,­
have ruled extremely high, while population in the 000,000 of new stock issued in 1907 and 1908. This
remoter parts of the country has been growing at a brings the total of stock up to,roughly,$210,000,000,
prodigious rate. Necessarily the influence of business and after allowing for 7% dividends on the same the
depression is most pronounced in the manufacturing income statement shows a surplus above the require­
districts of the Eastern and Middle States, but the ments for that purpose on the operations of the twelve
experience of such a typical trans-continental system months in amount of $2,789,961.
The only increase in stock or debt during the year
as the Great Northern makes it evident that even the
was
an addition of $2,063,000 to the amount of bonds
parts of the country considerably removed from the
outstanding
in the hands of the public. This was
manufacturing sections cannot hope to escape alto­
due
to
the
sale
of the Eastern Railway Co. of Minne­
gether from the effects of such a visitation, even, where
sota,
Northern
Division, bonds held in the Great
there is normally exceptional development from year
Northern
treasury,
as appears from Chairman James
to year.
J.
Hill’s
remarks
in
the
report, which are now confined
The $3,592,748 decrease in expenses for the twelve
months is found entirely under two main heads— entirely to the company’s finances and matters inti­
Maintenance of Equipment and Cost of Conducting mately connected with or related thereto. The new
Transportation. In the latter there has been a reduc­ capital requirements during the year were on a greatly
tion of $1,829,588 and in the former a reduction of reduced scale as compared with the preceding year,
$1,966,262. It is of course obvious that with a and yet were not inconsiderable. Thus the expendi­
smaller volume of traffic, expenses would also fall off, tures in connection with new lines were $5,064,148
and the fact that there was an absence of traffic con­ and advances to controlled Canadian companies were
gestion such as existed during other recent years would $2,756,710, besides which $376,250 more was ad­
likewise tend to improve operating results. Further­ vanced during the year towards the construction of
more, labor being abundant where previously it was the Spokane Portland & Seattle R y., which is owned
scarce, greater efficiency necessarily follows, with the jointly by the Great Northern and Northern Pacific.
result that a given amount of labor represents an en­ Then, also, $1,687,156 of additions and betterments
hanced amount of work. It appears, moreover, that were paid for out of capital account; $2,112,100 more
charges for maintenance of equipment were smaller of expenditures for additions and betterments were
than usual by reason of certain adjustments of the charged against the fund for permanent improvements
depreciation accounts and the replacement fund to and renewals. On the other hand, the company se­
make the accounts conform with the new accounting cured $5,525,868 of cash through the absorption
methods of the Inter-State Commerce Commission. of the Lake Superior Co. and the latter also
Smaller expenditures for maintenance also follow turned over to it stocks and bonds valued at
from the decrease during the year in locomotive and $2,417,705.
As pointed out by us in previous years, the company
car mileage. President L. W. Hill points out that
the equipment has been fully maintained in every re­ is building quite an extensive system of branch and
spect.
In the expenditures
for
maintenance tributary lines in Canada and has also considerable
of way and structures there was actually an other new mileage under way. An important event
increase of $208,623. This was due in part during the year was the opening to service of the
to the larger extent of road operated, but it Billings & Northern R R . from Armington to Laurel
also represents an increased amount of work Junction in Montana, 194J^ miles. This line consti­
tutes the connecting link between the Great Northern
done.
system
and the Chicago Burlington & Quincy and
The company received a slightly better average rate
Northern
Pacific. Trackage rights over the Northern
on its freight traffic than in the preceding year,
Pacific
from
Laurel Junction to Billings, Mont., 12
realizing 8.151 mills per ton per mile, as against
miles,
have
been
acquired, and through freight and
7.806 mills; but this of course does not reflect any
passenger
train
service
for the whole distance to
advances in freight rates. It was due entirely to the
Billings
from
Armington
(206
miles) was inaugurated
falling off in the volume of low-class freight. The
average train-load was slightly reduced for the same on Nov. 1 last.




$240,070 addition to gross earnings, there was a saving
in operating outlays to amount of $1,820,679, thus
producing a gain in net of $2,060,749. In the trans­
The Northern Pacific Railway Co. enjoys the unique portation expenses the decrease was but $353,498, or
distinction among Western roads of having made both only about 1% % . Yet there is evidence of growing
last year and the year before slight increases in its efficiency in operations in various items of the traffic
gross earnings, notwithstanding the business depres­ statistics. Thus the average train-load was again
sion which followed the financial disturbances of the raised, bringing it up to 434 tons, against 430 tons
autumn of 1907. Absolutely exact comparisons be­ in 1908 and 407 tons in 1907. This is revenue ton­
tween the last three years cannot be made, owing to nage, and the Northern Pacific’s average is still con­
the changes in railway accounts ordered by the Inter­ siderably below that of the Great Northern; but the
State Commerce Commission; but taking the figures latter during the late year suffered a slight reduction
just as they stand the total of the gross revenue from of its average— mainly, though, because of the falling
transportation in the fiscal year 1907 was $66,974,199, off in the ore traffic at the eastern end of the system.
in 1908 it was $67,622,151 and in 1909 it was $67,820,­ The fact that the Northern Pacific shows better train
014. The addition was not large in either year, it and traffic results, but nevertheless records only a
will be observed, but the fact that there should have small decrease in the transportation expenses, would
been any addition at all after the tremendous growth seem to indicate that there were other influences of an
in the years immediately preceding is worthy of note.
unfavorable nature serving to overcome in part the
It is not to be inferred that the road did not feel benefits accruing from more efficient operating
the effects of business depression. In. 1907-08 the achievements. As bearing on this point, it is well to
freight earnings fell off in amount of $1,226,533, but note that President Howard Elliott makes the follow­
a gain for a still larger amount in the passenger reve­ ing casual statement at the end of his remarks: “ The
nues served to overcome this loss and left total earn­ flood damage in Montana mentioned in the last report
ings larger than in the preceding year. In the late turned out to be as great as anticipated, and the heavy
year $802,630 of the 1907-08 gain in passenger earn­ repairs and bridge adjustments made necessary are
ings was lost, but as against this there was a recovery just being completed.” No doubt the drawback here
of $649,468 in the freight earnings, with an increase of mentioned had its part in adding to the cost of opera­
$351,025 in other revenue, thus again overbalancing tions, or at least in preventing as marked a reduction
the decrease and making total earnings even larger in transportation costs as on many other roads.
than before. As indicating very clearly that trade
The Northern Pacific, like the Great Northern, pays
depression did have its influence on traffic and earn­ 7% dividends, and like the latter had to make the
ings, the course of the freight revenues may be taken dividend on an increased amount of stock. As will
as convincing evidence. At $47,073,305 for 1909 be remembered, $93,000,000 of new stock was offered
these freight revenues compare with $46,423,836 for to the shareholders in January 1907 and the subscrip­
1908, but with $47,650,369 for 1907. The tonnage tions were payable in installments extending over a
statistics reveal like comparisons— that is, show that, period of two years, the last not falling due until
though the volume for 1909 was above that for 1908, January 1909.
Dividends were not paid on the
it was by no means equal to that for 1907. The road $93,000,000 of new stock until after the payment of
carried 16,800,504 tons in 1909, as against 15,836,823 the last installment, but interest on the subscription
tons in 1908 and 16,741,470 tons in 1907. In the payments was at the rate of 7% per annum, which is
movement one mile, which is the true measure of the substantially the same thing, though of course the
transportation service rendered, the total at 5,260,­ interest applied only to the subscriptions as they were
492,660 tons compares with 5,156,378,369 tons for paid in. In the income account the amount charged
1908, but with 5,504,444,098 tons for 1907. In this for dividends is $14,105,000, which is $3,255,000 more
last instance the loss, it will be observed, still remains than in the preceding year; $3,268,416 is also charged
very substantial, even after the recovery in 1909. The for interest and commission on new stock subscrip­
late year’s decrease in the passenger revenues follows tions, making $17,373,416 together. The total amount
entirely from a falling off in traffic. The local pas­ of stock now outstanding (including the $93,000,000)
senger traffic appears to have been larger than ever is $248,000,000, and 7% on this is $17,360,000. It
before, judging from the fact that the aggregate of hence may be said that in the late year the company
passengers carried in 1909 was 8,404,712, against met the dividend on the full amount of stock. This
7,880,333 in 1908 and 6,953,424 in 1907. But through being so, the final result of the income statement must
passenger traffic evidently fell off in 1909, owing pre­ be considered as quite remarkable. For it appears
sumably to business depression; at all events, the num­ that after allowing for these dividends and all fixed
ber of passengers carried one mile for 1909 was 767,­ charges and expenses a surplus remains on the opera­
439,465, against 794,351,948 in 1908 and 722,745,259 tions of the twelve months in the sum of $7,534,350.
in 1907.
This last is equal to 3% additional on the $248,000,000
Like other large systems, the Northern Pacific in of stock. In brief, while dividends of 7% were paid,
the years preceding 1909 had suffered from a great actually 10% was earned on the enlarged amount of
augmentation in expenses (net for 1908, for instance, stock.
having undergone a severe contraction by reason of
This must be considered a notable exhibit, since it
that fact, in face of an increase in gross earnings), shows an extremely favorable result, even before the
and during 1909 was able to improve net results by new mileage and new construction, in payment for
reducing the expenses. This reduction, however, in which the $93,000,000 of new stock was issued, had
expenses by the Northern Pacific has been much less yet to any great extent become productive. It is
marked than in the case of other large systems. With proper to say, moreover, that the result here arrived

THE NORTHERN PACIFIC'S SHOWING
FOR THE YEAR.




at is independent of the operations of the land depart­
ment, the net proceeds from which during the year
were $1,499,041. This latter, if taken into the general
income statement, would have added just that much
more to the $7,534,350 surplus for the year over and
above the call for dividends.
The company’s new capital requirements in 1908-09,
while below those of the year preceding, were of large
proportions. For additional real estate, terminals,
second-track mileage, &c., new equipment, additions
and betterments, the charges to capital account
reached $14,894,753 and in addition further advances
were made for the construction of the Spokane Port­
land & Seattle Ily. and other new roads to amount of
$7,046,395. Then no less than $18,552,504 increase
is found under the so-called treasury securities, though
no details are given regarding the acquisitions under
this head. Up to the end of the previous fiscal year
the subscription payments to the new stock had
reached $62,881,835. Therefore during the year
under review the company received about $30,000,000
on account of said stock. This will explain why its
holdings of cash in bank and on hand on June 30 1909
were almost as large as twelve months before in face
of the large new capital expenditures, the comparison
being $33,200,454 this year in June, against $34,900,­
794 last year in June.
A table is given in the report showing the extent of
the company’s new capital expenditures during the
last three years, together with the increase in the capi­
tal liabilities during the same period of time. Besides
the $93,000,000 new stock created, the bonded debt
during the three years was increased $5,091,687,
making a total new capital addition for the three years
of $98,091,687. Of this, $93,329,415 has actually
beenspent— $4,216,000 for real estate, &c.; $27,378,826
for branches, grade revisions and second track; $9,­
087,533 for additions and betterments; $15,393,607
for new equipment; $23,287,974 for advances to the
Spokane Portland & Seattle Ily., and the remainder
for advances to other roads. The company still has a
considerable amount of additional mileage and new
construction work under way, as reference to the
annual report will show, and to pay for this the $33,­
200,450 of cash on hand on June 30 1909 will be found
very convenient.

BALTIMORE & OHIO’S RECOVERY FROM THE
DEPRESSION.
In one particular the reports of all large railroad
systems are alike, namely in showing a tremendous
cutting down of the expenses. Savings and economies,
and pruning of the expense accounts in every direction,
were of course an absolute necessity in view of the fall­
ing away of the gross receipts. Consequently we may
suppose that all work of whatever character, whether
in the shape of additions or even renewals, was omitted
where not absolutely required. On the other hand,
by reason of the great increase in operating expenses
in previous years, due to conditions that made it im­
possible to conduct operations with due economy, an
unusual opportunity was presented for reductions and
curtailment.
The cost of operations in these preceding years was
undoubtedly very much larger than it would have been
had normal conditions prevailed. To indicate two
elements which played a conspicuous part in the rise



in expenses, it may be noted that the congestion of
traffic and the insufficiency of the supply of labor
(making it difficult to select men with regard to their
fitness or to get a due amount of work out of them)
both served greatly to augment the expense totals.
In all these particulars the situation entirely changed
after the panic of 1907; the consequence has been
that comparison is with very high figures, while cir­
cumstances have been such as to enforce and to make
possible quite low figures. The contrast between the
two years is hence very striking.
In the case of the Baltimore & Ohio RIl. the reduc­
tion in expenses for the year ending June 30 1909 is the
largest disclosed by any railroad report that has yet
come to hand, and the test to apply to this reduction
is the same as in all other instances. Taking the
twelve months as a whole, the company suffered a
further reduction of its gross earnings in addition to
the very noteworthy loss sustained the previous year.
But this further decrease in the gross revenues was
greatly overtopped by the decrease in expenses, and
hence a great improvement has been established in
the net. In brief, the decrease in gross earnings was
$2,565,262, while the saving in expenses reached
$6,598,903, producing a gain in net of $4,033,641.
But in the previous year, with a shrinkage of $8,635,­
140 in gross earnings, it had been found possible to
cut expenses to the extent of only $729,211, with the
result that the net was reduced in the prodigious sum
of $7,905,929, the total dropping from $27,363,831
in 1907 to $19,457,902 in 1908. From this low total
in 1908 there has now been a recovery to $23,491,543
in 1909 under the great curtailment in expenses. To
illustrate the rising tendency of expenses prior to the
late year, we might go even further back and point
out that in 1906 a gain in gross revenues of $4,851,865
was attended by an actual loss in net of $513,004,
owing to an augmentation in expenses in the large
amount of $5,364,870. It should be noted, too,
that while in 1908 the ratio of expenses to gross earn­
ings rose from 66.73% to 73.57%, now it has fallen
back again to 66.93%, leaving it still, however, very
much higher than in 1908. when the ratio was only
63.98%.
Of the total decrease in expenses in the late tear
of $6,598,903, $3,266,402 was in the transportation
expenses, $1,562,292 was in the expenditures for main­
tenance of way and structures and $1,666,910 was in
the expenditures for maintenance of equipment; there
were also moderate decreases in the traffic expenses
and the general expenses. To an extent the actual
decrease in the expenses is exaggerated by the figures
here given, owing to th6 fact that changes in classi­
fication by the Inter-State Commerce Commission
have served to disturb the comparison. Some other
large companies have undertaken to revise the figures
for the previous year so as to make the results for
the two years as nearly as possible on the same basis,
but the B. & O. management have not found this
feasible, owing to the multiplicity of changes that
would be required. President Oscar G. Murray,
however, takes pains to indicate the extent to which
results have been affected by the re-classification of
the accounts. The principal differences are found in
the fact that both revenues and expenses from outside
operations are now stated separately where previously
they were included in the general totals of earnings

and expenses. He points out that of the decrease in
maintenance of equipment, $212,689 represents main­
tenance and depreciation of equipment in parlor, cafe
and dining-car service transferred to the expenses of
outside operations. In the transportation expenses
$728,317 was so transferred, this representing mainly
the expenses incident to the New York Harbor Ter­
minal Transfer service now treated as an outside
operation.
The total of the expenses for outside operations in
the late year was $1,689,843, and if we deduct the
whole amount from the $6,598,903 decrease in ex­
penses, this latter would be reduced to slightly below
$5,000,000, which perhaps furnishes a pretty accurate
measure of the real decrease in expenditures, though
it is not possible to speak with absolute positiveness,
since the Inter-State Commerce Commission has also
made a number of other (though presumably minor)
changes in the accounts. Of course, even $5,000,000
is a very considerable reduction. Adequate explana­
tion for it is found in what has already been said,
added to the fact that there was a great shrinkage in
the volume of traffic, particularly the freight traffic.
With a smaller car and locomotive mileage, outlays
are obviously reduced in various directions. Further­
more, through increased efficiency of operations the
reduction in locomotive mileage has been propor­
tionately much heavier than the contraction in the
volume of traffic. In the previous fiscal year, owing
to the unfavorable traffic conditions prevailing, the
average train-load declined from 433 tons to 407 tons.
Now there has been an increase again to 425 tons.
With reference to the falling off in gross earnings,
the decrease of $2,565,262 in the late year, following
a decrease of $8,635,140 in the previous year, furnishes
an idea of the effects of business depression. At the
end of the first five months of the late fiscal year the
loss in gross earnings stood at no less than $6,277,850,
but business revival brought a recovery the last seven
months of $3,712,588, reducing the decrease for the
year as a whole to $2,565,262. To an extent the de­
crease has been augmented by the changes made by
the Inter-State Commerce Commission in its classi­
fication of accounts. After all has been said that can
be-said on this point,the fact remains that the road,
by reason of business depression, suffered a very serious
reduction of its traffic. It is rather noteworthy, too,
that this reduction extended to both the passenger
and the freight traffic. In the passenger earnings
the decrease of $385,790 the previous year was entirely
the result of a fall in rates due to legislation in West
Virginia, Ohio, Indiana, Illinois and Pennsylvania in
fixing low maximum rates per passenger per mile.
The volume of the passenger traffic in that year in­
creased. In the late year, however, the passenger
traffic fell oft, and this, combined with a further de­
cline in rates, occasioned a loss in passenger earnings
of $765,995. The rate per passenger per mile was
only 1.880 cts., against 1.890 cts. in 1908 and 1.956
cts. for 1907.
In the freight earnings there was a decrease of $1,­
809,369 in 1909, following a decrease of $8,526,885 in
1908, reflecting a great shrinkage in the volume of
traffic. Only 48,223,474 tons of freight were moved
over the lines of the system in 1909, against 49,488,211
in 1908 and 58,448,265 tons in 1907, and the tonnage
movement one mile was 9,270,745,209 tons, against



9,787,415,333 and 11,330,133,482 tons. Thus in the
two years there was a loss of over 10,000,000 tons in
the freight traffic of the system and a reduction in the
movement one mile of over 2,000,000,000 tons. This
shows how hard the company was hit by the depression
in business. The truth is the system is so situated as
to be extremely sensitive to any changes in manu­
facturing and industrial conditions. It has an ex­
tremely heavy traffic in minerals and other low-class
freights. It ranks among the largest coal-carriers
in the United States, being probably outclassed in
that respect only by the Pennsylvania Railroad. Its
soft-coal tonnage in the late year was only 20,956,585
tons, against 21,791,339 tons in 1908 and 22,986,520
tons in 1907. The soft-coal movement one mile was
4,068,283,353 tons, against 4,304,805,841 tons for
1908 and 4,474,172,109 tons. The coke tonnage was
3,791,905 tons, against 3,679;792 tons and 5,871,775
tons. Of ore the road carried only 2,119,755 tons,
against 2,479,458 tons and 3,334,104 tons. Of iron,
pig and bloom it carried but 527,460 tons, against
798,854 tons and 1,432,328 tons; of iron castings and
machinery, 3,100,797 tons, against 2,960,531 tons
and 4,387,250 tons; of lumber, &c'., it carried 2,486,677
tons, against 2,599,619 tons and 3,088,375 tons. And
these illustrations might be greatly extended, all going
to show how severe the reductions in traffic were as
the result of the depression in business.
Considering the extent of the falling off in traffic
and earnings, the company must be said to have passed
through the depression very creditably. In the pre­
vious fiscal year, owing to the great shrinkage in net
earnings, arising from the inability to contract ex­
penses, the company failed to earn the dividends paid
on the common stock (6%) by the amount of $1,373,­
762. At the instance of the late Mr. Harriman, how­
ever, no reduction was made in the dividend, accumu­
lated surplus being drawn on for the deficiency. For
the late year, under the great improvement in net earn­
ings, the income account shows a surplus of about a
million dollars above the dividend requirement after
allowing $546,048 for miscellaneous improvements.
In the past the contributions out of earnings for im­
provements have been large and repeated reference
has been made to them in these columns. But under
order of the Inter-State Commerce Commission,
effective July 1 1909, it will no longer be permissible
to charge such outlays against earnings. It is re­
quired that expenditures of that character be here­
after charged to capital account. In view of this order
of the Commission the B. & O. management have
deemed it proper to furnish a summary of charges of
this character made to income in the 10-year period
since the reorganization of the company. It is stated
that in the period from July 1 1899 to June 30 1909
sums aggregating $21,540,230 have been charged
to income on account of capital improvements and
$4,961,648 on account of miscellaneous improvements.
An important event of the year was the conclusion
of negotiations whereby the Baltimore & Ohio ac­
quires control of the Cincinnati Hamilton & Dayton
Ry. There was a net increase of $1,696,120 in the
company’s funded debt during the year. The con­
struction and betterment expenditures for the twelve
months charged to capital account were $4,844,341.
The company, however, sold $12,470,727 of its Pitts­
burgh Lake Erie & West Virginia Division refunding

bonds from among the bond issues held in its treasury
and its finances at the end of the year were in easy
condition. The whole of the $11,660,000 of loans
and bills payable outstanding at the end of the previous
fiscal year were paid off, and on June 30 1909 the aggre­
gate of cash on hand was $14,768,011.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.'S.
— The public sales of bank stocks this week aggregate 144
shares, of which 38 shares were sold at the Stock Exchange
and 106 shares at auction. Only one lot of trust company
stock, amounting to 10 shares, was sold. The largest single
transaction was a sale at auction of 100 shares of Mercantile
National Bank stock at 185, an advance of 12J4 points over
the price paid at the last previous sale, which was made in
the latter part of September.
S hares. B A N K S — N ew Y ork.
L ow . H igh . Close.
0 C itizen s’ C entral N a t. B a n k , 160 J4 160 )4 160 )4
*28 C o m m erce, N a t. B a n k o f ___ 189
1 9 1 )4 189
*10 M ech a n ics’ N a t. B a n k _______ 255
255
255
100 M erca n tile N a t. B a n k ----------- 185
185
185
T R U S T C O M P A N Y — N ew Y ork.
10 C arn egie T ru st C o ---------------- 165
165
165

Last previous sale.
O c t . 1909— 159
O ct. 190 9— 192
S e p t. 1909— 259 J4
S e p t. 1909— 172 )4

fu lly p re se n te d a n d th o r o u g h ly discussed) m a y b e in fo rm e d as ea rly as
p o s s ib le , I n o w ch allen ge y o u to a jo in t d e b a te u p o n th e fo llo w ! ng p r o p o s i­
tion s:
“ F irst, a cen tral b a n k w ill n o t e ffe c t o r a c c o m p lis h the n ecessary r e ­
fo rm s o f o u r finances an d c u rre n cy ; is u n su lted to o u r co n d itio n s; w ill a c ­
c e n tu a te m a n y o f o u r p resen t ev ils a n d p r e c ip ita te an d d e v e lo p o th e r evils
o f a m o s t seriou s n atu re.
“ S e c o n d , o u r financial an d c u r r e n c y p ro b le m s m u st b e s o lv e d u p on e c o ­
n o m ic lines o f an e n tire ly d iffe re n t ch a ra cte r.
“ I assert th a t y o u c a n n o t su cce ssfu lly an d b e n e ficia lly su p erim p ose a
m o n a rch ica l fo rm o f b a n k in g u p o n n e a rly 25,000 in d iv id u a l, in d e p e n d e n t,
fr e e b a n k in g In stitu tion s w h ich h a v e g row n u p an d d e v e lo p e d in h a rm on y
w ith th e p rin cip le s o f o u r re p u b lica n fo rm o f g o v e r n m e n t, an d are th em selves
r e p u b lica n in fo rm an d c h a ra cte r.
" T o establish a ce n tra l ban k In this c o u n tr y u n d e r e x is tin g con d ition s
w o u ld b e u n d e m o c r a tic, u n re p u b lica n , u n -A m e rica n , an d Inim ical to th e
e n e r a l w e lfa r e o f th e p e o p le , b eca u se w ith a ce n tra l b a n k w ill c o m e a m ost
d isco u ra g in g an d d ish e a rte n in g fa v o r itis m , th e gradu a l b re a k in g d o w n an d
u ltim a te d e s tru ctio n o f o u r p u re ly in d ivid u a l a n d In d e p e n d e n t fo rm o f
ba n k in g.
“ I w ill m e e t y o u In jo in t d e b a te u p o n th e a b o v e p ro p o s itio n s a t o n e o r
m ore o f o u r le a d in g c itie s u p to 100 o r m ore o f th em if y o u c h o o s e , a t su ch
tim e s and u p o n su ch c o n d itio n s o r term s as m a y b e a g re e d u p on b y us
h e r e a fte r.”

— The National Monetary Commission is to meet in
Washington on N ov. 20, and it is stated that at this meeting
arrangements will probably be made for the publication
of preliminary parts of its reports. This, it is expected,
O ct. 190 9— 180
will comprise the mass of information gathered with regard
* S old a t the S to c k E x ch a n g e .
to the banking systems of the leading countries. It is the
.— Resolutions recommending modifications in the Okla­ belief that the recommendations of the Commission will not
homa guaranty law were adopted on the 21st inst. at Tulsa be made known until after the issuance of the volumes
by members of Group 4 of the Oklahoma State Bankers’ bearing on these currency systems.
Association, representing banks in the eastern part of the
— The Bowery Bank of New York declared this week a
State. It is said that in a discussion prior to the adoption of
regular quarterly dividend of 3% and an extra dividend of
the resolutions, the bankers denounced the workings of the
5%, both payable N ov. 1 to holders of record Oct. 27. An
law as exemplified in the failure of the Columbia Bank &
extra distribution of 20% was also made last May.
Trust Co. of Oklahoma City, many favoring the abolition
— John R. Van Wormer, Vice-President and General
of the law. The resolutions endorsed arc as follows:
Manager of the Lincoln Safe Deposit Co. of this city, died
F irst— D e m a n d in g th a t th e S ta te B a n k in g B o a rd he a b o lish e d a n d the
m a n a g em en t a n d c o n tr o l o f the g u a r a n ty fu n d he In the han ds o f the B ank
on Wednesday after an illness of several weeks. Mr. Van
C om m ission er.
Wormer in 1882 became identified as teller with the Lincoln
S e c o n d — T h a t the g u a r a n ty fu n d he r e -d e p o s lte d w ith th e ba n k s fro m
National Bank, the presidency of which was then and is still
w h ich It orig in a ted , w ith o u t Interest.
T h ir d __ T h a t the S ta te and n o t th e ban ks b e a r the e x p e n se o f m a in ta in ­
held by Gen. James. He was shortly after made Secretary
in g an d o p e r a tin g th e gu a ra n ty fu n d .
and General Manager of the Lincoln Safe Deposit Co., and in
F o u r th — T h a t a n y S tate ban k liq u id a tin g shall ta k e o v e r as an asset
April 1908 became Second Vice-President
and General
9 0 % o f th e g u a ra n ty fu n d c o n tr ib u te d b y th e said b a n k .
Manager of that company. He was also Vice-President of
The meeting was attended by seventy-five bankers.
To enable him to complete the liquidation of the Colum­ the Brooklyn Warehouse & Storage Company.
Mr. Van Wormer’s successor as General Manager will be
bia Bank & Trust Co. of Oklahoma City, which suspended
Sept. 28, State Bank Commissioner Young has announced W . C. Reed, now Warehouse Superintendent. The proposal
his intention of enforcing the double liability of the stock­ to add nine stories on separate pillars to the present building
holders of the bank by an assessment of 100%. The paid- of the company, which was graphically described in this
in capital of the institution was reported as $200,000 on week’s newspapers, is unlikely to meet with adoption.
General James, President of the Lincoln National Bank, is
Sept. 1.
The Farmers’ State’J3ank of Oklahoma City, Okla., has also President of the Lincoln Safe Deposit Company.
decided to give up its State charter and organize under the
— Arthur P. Ileinze, brother of F. A. Heinze, was sen­
Federal laws. The conversion of the institution, which has tenced to ten days in the Tombs and to pay a fine of $250 by
a capital of $100,000, has been approved by the Comptroller Judge Ray in the U. S. Circuit Court on the 26th inst. A
of the Currency. The change will be effected under the name motion for a stay pending an appeal was denied by Judge
of the Farmers’ National Bank.
Ray, but Judge Ward, to whom an application was subse­
__A joint debate on the central-bank plan between Con­ quently made, granted the petition, Mr. Heinze being released
gressman Charles N. Fowler and Senator Nelson W . Aldrich under $2,500 bail. The case in which the sentence has
has been proposed by Congressman Fowler in an open letter been imposed concerns the conviction in June of A. P.
addressed by him to the Senator. Mr. Aldrich, who is Heinze on charges of interrupting the administration of
Chairman of the National Monetary Commission, is about justice in blocking the service of a subpoena on an employee
to begin a series of lectures on the central-bank question, and concerned in the disappearance of the books of the United
Congressman Fowler, who expresses it as his conviction that Copper Co. Sanford Robinson, former counsel for F. A.
a central bank is “ the one thing above all others that this Heinze, was found guilty of a similar offense, and fined $250.
country does not want,” proposes that they meet in debate Sentence had been suspended in A. P. Heinze’s case, to give
on the subject at one or more of the leading cities of the him an opportunity to assist the Federal authorities in get­
country. The letter, as printed in the daily papers, is as ting possession of the missing books; most of them, it has
been reported, have been recovered. Previously a joint
follows:
“ Just b e fo re y o u sta rte d fo r E u ro p e In A u g u s t, It w as sta te d In th e press
indictment had been returned by the grand jury against F. A.
o f th e c o u n tr y th at, as a result o f a m e e tin g o f the M o n e ta ry C o m m issio n ,
Heinze, Arthur P. Heinze, Sanford Robinson, Carlos W ar­
o f w h ich y o u are C h airm an , a ce n tr a l ban k w as to be a d v o c a t e d b y y o u r
field and Calvin O. Geer, on a charge of obstructing the ad­
C om m ission , a n d th a t u p o n y o u r retu rn fro m E u rop e y o u w o u ld p r o c e e d to
v isit variou s cities In d lirercn t se ctio n s o f th e c o u n t r y w ith a v ie w o f in­
ministration of justice in spiriting away the books of the
stru ctin g the p eop le u p on o u r financial an d c u r r e n c y n eed s a n d re co m m e n d
United Copper Co. while they were being used in an investi­
as a ’ cure a ll’ a cen tra l b a n k .
gation conducted by the Grand Jury into the operations of
" A f t e r y o u r d ep a rtu re there w as an e v id e n tly Inspired and w ell org a n ize d
p rop a ga n d a In fa v o r o f a cen tral b a n k , c o n c e iv e d an d ca rrie d o n fo r the p u r­
F. A. Heinze as President of the Mercantile National Bank,
pose o f p reparing th e w a y fo r y o u r h o m e -c o m in g and y o u r a rran gem en ts
but a month ago this indictment was dismissed by Judge
to ‘ sw ing a rou n d the c ir c le ’ and Initiate th e p e o p le o f th e U n ite d S tates Into
Hough in the U. S. Circuit Court. A t the time of its dis­
the m ysteries o f y o u r c e n tra l-b a n k pla n .
“ In a sm u ch as I a m c o n v in c e d th a t th e o n e thing a b o v e all o th ers th a t
missal, Judge Hough also dismissed fifteen out of sixteen
this co u n tr y d o c s n o t w an t Is a ce n tra l b a n k , b ecau se It w ill n o t e ffe c t o r
counts in another indictment, charging F. A. Heinze with
a cco m p lis h the n ecessary re fo rm s, b u t In the end will m ak e a b a d c o n d i­
misapplication of the funds of the Mercantile National Bank,
tion im m easu ra bly w orse; th e re fo re . In o r d e r th a t the A m e rica n pe o p le
(w ho I k n ow w ill d ecid e this m o st Im p o rta n t q u e stio n n o w p e n d in g b e fo r e
while he was President of the institution. The count re­
th
e
mfo
r con sid era tion and d e te rm in a tio n rig h t, as th ey d id th a t o f the gold
tained, it is stated, refers to a loan of $500,000, which the
Standard, If on ly they be given an o p p o r tu n ity o f h a vin g b o t h sides o f it




indictment is said to allege was unsecured. There is also
it is understood, an indictment against F. A. Heinze, returned
in January 1908, in which he is charged with over-certifying
checks to the amount of $407,000 drawn by his brother’s
concern, Otto Heinze & Co., on the bank.
— The payment of the second 25% installment on the
surplus certificates “ Series A ” of the Knickerbocker Trust
Company of this city was made yesterday. These certificates
were issued to represent 30% of the deposits at the time of
the reorganization. The final installment on the certificates,
which covered the other 70% of the deposits, was paid in
April last, although the company, under the reorganization
plan, had until August 1910 in which to meet the same.

his new duties as Vice-President of the National City Bank.
The occasion is the 109th regular meeting of the Chicago
Bankers’ Club.
— I t is reported that the owners of the southeast corner
of Dearborn and Monroe streets, Chicago (the Brooks estate
of Boston), the former home of the Commercial National
Bank, will raze the present building in the spring and erect
in its stead a modern “ skyscraper” of large dimensions,
the main floor of which will be occupied by the National City
Bank of Chicago.

— Negotiations which had been pending for the consolida­
tion of the Union Savings Bank of Davenport, Iowa, with
the Scott County Savings Bank of that city, have, according
— George E. Roberts, President of the Commercial Na­ to information received by us, been dropped, owing to the
tional Bank of Chicago, has been elected President of the inability to agree upon the value of the stock of the two instiChicago Clearing-House Association, succeeding Joseph T. tions, and other matters. They will, therefore, continue
Talbert. L. A. Goddard, President of the State Bank of their separate existences, as heretofore.
Chicago, has been chosen to fill the office of Vice-President
of the Clearing-House Association, made vacant through the
DEBT S T A T E M E N T SEPTEM BER 30 1909.
death of H. A. Haughan.
The following statements of the public debt and Treasury
— G. Bruce-Webster has resigned, on account of poor cash holdings of the United States are made up from official
health, as the New York agent for the Chartered Bank of figures issued Sept. 30 1909. For statement of Aug. 31 1909,
India, Australia & China, corner W all and W ater streets. see issue o f Oct. 2 1909, page 819; that o f Sept. 30 1908, sec
William G. Baxter, assistant agent, who has been acting agent Oct. 24 1908, page 1063.
IN T E R E ST -B E A R IN G D E B T SE PT. 30 1909.
during Mr. Brucc-Webster’s illness, was granted a nineAmount
------------ Amount Outstanding-----------months’ leave of absence, to take efFect at once. Francis
Interest
Issued.
Registered.
Coupon.
Total.
Title o f Loan—
Payable.
$
$
$
$
Bennett, manager of the corporation's Manila office, will
2a. Consols of 1930........... Q .-J. 616,250,150 641,163,850 5,086,300 646,250,150
3s, Loan of 1908-18............Q .-F.
198,792,660 41,343,780 22,601,680 63,945,460
succeed G. Bruce-Webster in the New York office.
— Pierce N. Welsh, President of the First National Bank
of New Haven, died in Berlin, Germany, on Wednesday.
Mr. Welsh, who was born in Plainville, Conn., was sixtyeight years of age. He had been President of the bank since
1889, having succeeded his father in the office. He was
also a trustee of the New Haven Trust Co. and the National
Savings Bank of New Haven, President of the Bristol Brass
Co. and Vice-President of the New Haven Gas Light Co.
— The customary semi-annual dividend of 6 % , payable
N ov. 1 , has been declared by the directors of the Philadel­
phia National Bank of Philadelphia. The sum of $250,000
has been added to surplus, the total of that item, which lias
all been earned, being now $3,250,000. Since the organi­
zation of the bank it has distributed to its stockholders in
dividends the sum of $15,184,372, or over 1,000%.
— Thomas J. Hayward, President of the Bartlett-Hayward
Co., and Chairman of the Executive Committee of the
Continental Trust Co. of Baltimore, died on the 23d inst.
Mr. Hayward was also a director of the Western National
Bank and the Eutaw Savings Bank of Baltimore, a member
of the Executive Committee of the Consolidated Gas &
Electric Co. of Baltimore, and was interested in the National
Sugar Manufacturing Co. of Colorado. He was sixty-two
years of age.
— Action with regard to the proposed increase in the
capital of the First National Bank of Chicago, which was
rumored as contemplated during the summer, was taken by
the directors this week, when they decided to submit the
matter to the stockholders for ratification at the annual
meeting in January. The plan provides for the issuance
of $2 ,000,000 new stock, raising the capital from $8,000,000
lo $10 ,000,000, the additional shares to be offered to the
present stockholders at $200 per share. The increase will be
made about April 1910. In order that the stockholders
of the First National may retain the same proportionate
interest now held in the First Trust & Savings Bank, the
directors of the latter have recommended that its capital
be increased from $2 ,000,000 to $2,500,000, but in this
case the capital will be enlarged through the transfer of
$500,000 out of its accumulated earnings.
— F. A. Crandall has been elected Vice-President of the
National City Bank of Chicago. He had been an Assistant
Cashier since the organization of the bank about three years
ago. A. W . Morton succeeds Mr. Crandall as Assistant
Cashier.
— A farewell banquet will be given at the Congress Hotel,
Chicago, to-night (Saturday, the 30th inst.,) to Joseph T.
Talbert, First Vice-President of the Commercial National
Bank, and President of the Chicago Clearing-House Associa­
tion. just prior to his departure for New York to take up




4s, Loan of 1925.................. Q .-F.
2s, Pan. Canal Loan 1906.Q .-N .
2s, Pan. Canal Loan 1908.Q .-F .

162,315,400 97,408,900
54,631,980 54,600,480
30,000,000 29,403,320

21,081,000 118,489,900
31,500 54,631,980
596,680 30,000,000

Aggregate Int.-bearlng d e b t ..1,091,990,190 863,920,330 49,397,160 913,317,490
N ote.— Denominations of bonds are:
Of 820, loan of 1908, coupon and registered.
Of 850, all issues except 3s of 1908; of S100, all Issues.
Of S500, all Issues; of 81,000, all Issues.
Of So,000, all registered 2s, 3s and 4s; of 810,000, all registered bonds.
Of 850,000, registered 2s of 1930.
D E B T ON W H IC H IN T E R E ST HAS CEASED SINCE M A T U R IT Y .
Sept. 30.
Aug. 31.
Funded loan of 1891, continued at 2 % , called May 18
$32,000 00
1900, Interest ceased Aug. 18 1900.......................... ....
S32.000 00
Funded loan of 1891, matured Sept. 2 1891..................
23,750 00
23.750 00
Loan of 1904, matured Feb. 2 1904...................... ..........
18,750 00
18.750 00
Funded loan, of 1907, matured July 2 1907.................... 1,792,300 00
1,760,000 00
Refunding certificates, matured July 1 1907__________
17,670 00
17,630 00
Old debt matured at various dates prior to Jan. 1 1861
and other Items o f debt matured at various dates
subsequent to Jan. 1 1861________ ________________
909,155 26
909,155 26
Aggregate debt on which Interest has ceased since
m a tu rity ......... ....................... ........................................ S2,793,625 26 S2.761.285
D EBT B E A R IN G NO IN T E R E ST .
United States notes........... ..................... ....................................................... $340,681,016
Old demand notes...................... ....................................................................
53,282
National bank notes— Redem ption account________________________ 25,870,008
Fractional currency, less $8,375,934 estimated as lost or d e stro y e d ..
6,859,894
Aggregate debt bearing no Interest..................................................
RECAPITULATION.
Classification—
Interest-bearing d e b t...........
Debt Interest ceased_______
Debt bearing no In te re st...

Sept. 30 1909.
$913,317,490 00
2,761,285 26
379,464,201 28

Aug. 31 1909.
$913,317,490 00
2,793,625 26
379,366,966 28

20
00
50
50
28

.*379,404,201 28
Increase ( + ) or
Decrease (— ).
— 832,340 00
+ 97,235 00

Total gross d e b t ................ 81,295,542,976 54 81,295,478.081 54
Cash balance In T reasu ry.. .
244,206,113 58
247,950,870 90

+ 864,895 00
— 3,744,757 32

Total net d e b t ...................$1,051,336,862 96 $1,047,527,210 64

+ $3,809,652 32

* Including $150,000,000 reserve fund.

The foregoing figures show a gross debt on Sept. 30 of
$1,295,542,976 54 and a net debt (gross debt less net cash
in the Treasury) of $1,051,336,862 96.
T R E A S U R Y CASH AN D D E M A N D L IA B IL IT IE S .—
The cash holdings of the Government as the items stood
Sept. 30 are set out in the following:
ASSETS.
Trust Fund Holdings—
Gold c o i n . . _____ ______
Silver dollars---------------Silver dollars of 1 8 9 0 ...

L IA B IL IT IE S .
5
Trust Fund Liabilities—
S
864,162,869 00 Gold certificates............. 804,162,809 00
4S4,826,000 00 Silver certificates........... 484,820,000 00
4,071,000 00
4,071,000 00 Treasury notes of 1890--

Total trust liabilities. 1,353,059,869
Total trust f u n d ____1,353,059,869 00
Uen. pu n a i.iamtuies—
General Fund Holdings—
26,017,119
Gold coin and b u llio n .. .
34,227,631 62 National bank 5% fund.
Gold certificates............
58,615,710 00 Outstanding checks and
Silver certificates__
5,135,169 00 I drafts ..........................
12,380,572
Silver d olla rs............ ..
5,784.083 00 i Disbursing officers’ bal­
Sliver bullion................
4,056,315 78
ances .............................
77,602,960
United States notes___
4,278,924 00 Post Office Department
Treasury notes of 189 0..
7,165 00
a c c o u n t ...................
2,832,711
National bank notes____
23,041,951 07 Miscellaneous Items____
1,097,744
Fractional silver c o i n .. .
21,577,880 50
Fractional currency____
52 98 Total gen. liabilities____ 120,531,114
Minor co in _____________
1,972,344 34
Bonds and Interest paid.
4,579 35

00
35
78
48
79
11
51

Tot . In Sub-Treasuries 159.331.S06 64
In Nat. Bank Depositaries
Credit Treasurer of U. s .
38,231,985 99
Credit U. S. dls. officers.
12,372,537 33
Total In banks_______
50,604,523 32
In Treas. of Philippine Islands—
Credit Treasurer of U. S .
2,904,423 33
Cash Balance and Reserve—
Credit U. S. dls. officers
1,896,474 80 Total cash and reserve-- 244,206,113 58
Made up of—
Total In Philippines..
4,800,898 13 Available ...9 4 ,2 0 6 ,1 1 3 58
and
Reserve Fund Holdings—
Reserve Fund—
Gold coin and bullion__ 150,000,000 00 G old& bull. 150,000,000 00
Grand to ta l................. 1.717,797,097 69;

Grand total................... 1,717.797,097 g

T R E A S U R Y C U R R E N C Y H O LD IN G S.— The following
compilation, based on official Government statements,
shows the currency holdings of the Treasury on the first ot
July, August, September and October, 1909. Statements of
corresponding dates in previous years will be found m our issue
of Oct. 24 1908, page 1003.
„„a
J

T R E A S U R Y N ET HOLDINGS.
July 1 ’09. Aug. 1 ’09.
1 ’09. Oct. 1 '09.
Holdings in Sub-Treasuries—
S
. y or.7 040 070 040
Net gold coin and b u llio n ,............223,184,405 235,720,333 237,184,857 242,873,31Net silver coin and bullion............. 17.865,627 19,172,878
17,084,9o3 14,975,508
7,165
12,725
12,879
10,013
Net United States Treasury notes
4,278,924
6,905,751
7,752,582
Net legal-tender n o t e s .................. 6,039,413
26,902,024 23,641,951
27,406,977
Net national bank notes................ 23,415,082
21,577,880
Net fractional silver.........................27,210,207 26,571,114 25,270,932
1,976,977
1,932,266
Minor coin, A c __________________ 2,616,(JS _ _2,457,472
________ _____
„ „ . h ,n o „ h Treasuries 300 341,525 310,004,235(1315,893,508 309,331,807
L ( ^ g o ld ^ M e r v 1 n J d . . - : ASOIOOO.OOO 150,000,000 150,000,000 150,000,000
„ n<,h hnl In dill, Treasuries
150,341,525 169,094,235 165,893,508 159,331,807
r ^ fln n a U M ^ b a n ta
I " 74 098 615 54,022,746 51,651,531 50,604,523
4,152,073
5.901,272
5,032.190
4,800.898
C M h m T O p l n f f i r t d i l .........
Wef r n«h in hanks Sub-Treas_229.192,213 229,018,253 222,577,229 214,737,228
neduct^ 5 T O n tn n M iltlM -a -^ -1 0 4 .7 3 8 ,3 7 2 120,580,498 124,626.358 120,531,114
Available cash balance..............124,453,841 108,437,755

97,950,871

94,206,114

a Chleflv “ disbursing officers’ balances.” ^Includes $4,056,316 silver bullion
find SI 026,977 minor coin, & c., not Included in statement “ Stock of Money.

BXanctamjl (flomw cvcml£ noils !xjXgtw
[F rom o u r o w n co r re s p o n d e n t.]

The India Council offered for tender on Wednesday 40 lacs
of its bills and the applications exceeded 241% lacs at prices
ranging from Is. 4d. to Is. 4 1-IGd. per rupee. Applicants
for bills at Is. 4 l-32d. per rupee were allotted about 13%
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.
W eek ending Oct. 29.
Silver, p e r o z ........................ d.

Sat.
23 H
82 X
. 82 5-16
French Rentes (In P a ris).fr. 98.75
Amalgamated Copper C o ___ 81 )4
954 '
.122 54
.108)4
.11754
. 96
.188
■ 89)4
.160)4
■ 47 )4
. 87
. 3354
. 49
. 40)4
.151JA
-154)4
Missouri Kansas & T e x a s .. - 47 J)
. 79
. 58
. 2254
.13654
■ 47 J4
. 97
- 92 >4
Preferred
.151
- 7454
. 82
47
. 50)4
- 3854
.13054
- 30)4
- 70)4
.20454
.105
. 8954
.129
- 2054
- 53)4
. 76

M on.
23)4
82 7-16
82)4
98.90
8254
9)4
122)4
106 'A
11754
96
18754
8854
160
47)4
86)4
33)4
48)4
40
150
154)4
47)4
78)4
58
23)4
135)4
47)4
97)4
92)4
150
74)4
8154
47
50 M
3854
130
30)4
71
203)4
105 •
89)4
129)4
20)4
53)4
76

Tues.
23 1-16
82 9-16
8254
98.72)4
8454
954
123)4
106)4
118
96
188)4
89
161
48
86)4
33)4
48
40)4
150)4
155)4
48)4
79
58)4
23
137
4754
97
92)4
150
75)4
82)4
47
50)4
39)4
131)4
31)4
71
205)4
10544
9154
130
20)4
53)4
75)4

F ri.
23)4
82 7-16
82)4
98.70
86)4

Wed.
23 3-16
82 7-16
82)4
98.77)4
8254
954
12254
106)4
117)4
96
188
88)4
159)4
47)4

Thurs.
23 5-16
82)4
82 9-16
98.70
c 8 4 )i
9)4
125
106)4
117)4
96
189)4
89)4
161
4754

126)4
106)4
118K
95)4
190
i)0%
161 )4
48)4

33)4
48
40
149)4
154)4
47 54
79
58)4
23
135)4
47 54
97
92)4
14!)
75)4
81)4
47
50)4
39)4
130
30)4
71
203)4
105)4
88)4
129
20)4
51)4
75)4

3354
47 54
39)4
149)4
155)4
48)4
76
5S)4
23)4
137)4
48
98
92)4
150
76
82)4
47
50
39)4
13154
31
(u>4
205)4
10554
9154
130)4
20)4
53
75)4

34)4
48
40)4
151
156
49)4
76)4
58)4
2354
137)4
48)4
97)4
92)4
15054
76)4
83)4
47
50
3954
132
30)4
71
20654
105K
9254
13154
20)4
53
75)4

86

86

10

86)4

London, Saturday, October 23 1909.
The directors of the Bank of England took the City some­
what by surprise on Thursday by raising their rate of dis­
count from 4% to 5% . Only a fortnight previously they
put up their rate from 2 % % to 3% . A week later they ad­
vanced it further from 3% to 4% and on Thursday last
they went to 5% . For a day or two previously rumors had
been circulating that very large amounts of gold would on
Thursday be withdrawn from the Bank of England for
Brazil, Egypt and Constantinople, and that further large
amounts would be taken on Saturday. Therefore, the fear
sprang up that the directors would put up their rate to 5% .
Early on Wednesday the conviction was general that a rise
would take place. But later on Wednesday ^there was a
a Price per share. 6 £ sterling, c Ex-dlvldend.
change of opinion and the prevailing conviction was that
there would be no change but that the directors would wait
for at least another week to sec what would be the effect of
a well-maintained 4% rate. On Thursday, however, the
directors decided to put up the rate without further delay.
Auction Sales.— Among other securities the following, not
There is no fear anywhere of financial troubles. Credit is regularly dealt in at the Board, were recently sold at auction.
good and nobody is anticipating anything likely to shake it.
By Messrs. Adrian H. Muller & Son:
No doubt there is some anxiety respecting home politics.
Stocks.
Stocks.
But it will be a considerable time yet before the budget
50 City Investing Co. c o m m o n ... 65
7 Union Typewriter Co. 2d p ref.-l.13Ji
comes before the House of Lords, and therefore it does not
10 Carnegie Trust C o......................165
8 Union Typewriter Co. com m on. 66
100 Hudson Navigation C o ............. 30
seem probable that the directors were influenced in any way
56 United States Insurance C o— 61
Bonds.
21 Otis Elevator Co. preferred._. 965-4
by the fear of a great economic crisis. The real fear is that 200
$2,000 Pacific L t. & Pow. Co. 1st 5s,
Library Square Realty Co. (R e­
Guar., 1942, .1. A J ----------- 97)4 A Int.
the demands for gold arc so strong that the reserve of the
publican C l u b ) . . . ......... 50c. persh
Seaboard Air L in e '(o ld 'co m .).'. 14)4 $500 Chamber of Commerce 13idg.
Bank of England would be unduly weakened if prompt action 100
Fund subscription non-cum. Inc *.1
62 Havana Tobacco Co. pref_____ 16
were not taken. As a matter of fact, on lhursday about 160 Havana T obacco Co. com m on. 7)4 33,000 Norfhern Union Gas Co. of . ^ _
N. \ . 1st 5s.1927, M. & N - 9 v /i & Int.
three-quarters of a million sterling were withdrawn from the inn TTnitmi ConnprCo dreferred__ 28
37 Sanborn Map C o ......... ........... V * 400 t * 1; ? 0(V V'lui'1i o n ? *i^ T t0WV ) V L int
Bank for Brazil and a further quarter of a million was taken 125
Hungarian Rest. Co. eom ._80c.persh
Co. 1st 5s, 1939, J. & J . . . 9 9 h A Int.
for Constantinople. Over and above this there are appre­ 100 Guantanamo Sugar C o......... .. 80 S^O OCentral U nlon G asC o. 1st as,
83 Aeollan-Wcber Plano A Pianola
1927, J. & J ----------- --------102)4 A Int.
hensions that Russia may compete with the Bank of England
$9,000 Coney Isl. & Bklyn. R R . Co.
Co. pref........................................80
1st cons. 4s, 1948, J. & J ..8 0 )4 A Int.
6 Citizens Central Nat. Bank-----160)4
for the gold offering in the open market. The gold held by
51.000 Havana T ob acco Co. 5s,
7% )
the Imperial Bank of Russia on the 14th of this month 120 Warren R R . Co. (Guar.175)4-175)4
1922, J. & D ........................ 60)4 A int.
$15,000 N. Y . City 3>4s, 1953, M. &
amounted to 137% millions sterling. A portion of the gold,
23 Oswego & Syracuse R R . Co.
N.
(ex. N ov. Interest).. — 8754-8754
Guar. 9 % ) .............................. 226)4
of course, was held abroad and a portion was allocated to
$2,000 St. Paul Gas Light Co. 1st 6s.
50 New Jersey Zinc C o ................... 390
19 15 ....................................... ..1 0 5 A Int.
certain purposes. But still the fact remains that the gold
15 N. Y. A East River Ferry C o .. 30)4
53.000 Peoria W ater-W orks Co. lVVt
alone, according to the return quoted, amounted, in round 100 Mercantile National Bank.........185
cons. 4s......... ..................... - .............53Ji
SO J. (i. White & Co. p r e fe rre d ... 75
figures, to 137% millions sterling. The note circulation at
$300 Peoria W ater-W orks deb. 4 s .. 30)4
15 J. G. W hite * Co. com m on------20
the same time was only 135% millions sterling. Conse
quently, the gold, without reckoning the silver or any other
DIVIDENDS.
securities, exceeded the total amount of the notes in circula­
The following shows all the dividends announced for the
tion. That being so, it seems highly improbable that Russia
will compete with the Bank of England. If money had con­ future by large or important corporations:
Dividends announced this week arc printed in italics._____
tinued as cheap as it was a few weeks ago, Russia might have
none on buying gold. But now that the Bank of England
Books Closed.
When
Per
rate is 5%, it is obvious that if Russia were to compete for the
Days Inclusive.
Cent. Payable.
Name o f Company.
gold in the open market with the Bank of England, the mar­
Railroads (Steam ).
ket for Russian securities would be weakened and there
Holde s o rec. N ov. 15
ifc Susquehanna (special) ................ 30
would be a general apprehension that the Bank might have Albany
Dec.
1 Holders of rec. N ov. 6
3
Atch. Topeka & Santa Fe. com m on------N
ov. 1 to
N ov. 9
N
ov.
10
to put up its rate to 6% . It seems, therefore, reasonably \tlantlc Coast Line R R .. preferred........... 2)4
& O h io—
certain that no serious competition from Russia is to be ap­ Baltimore
Nov.
1 Holders of rec. O ct. 18
Washington Branch R R ..........................
Nov.
1 Holders of rec. O ct. 22
prehended. It does not look likely that Argentina will re­ Central R R . of New Jersey (q u a r .)...........
1 Holders of rcc. N ov. 10
154 D ec.
& Pittsburgh, reg. guar. (<?!;.)--quire much gold, since a great deal of gold was sent to Argen­ Cleveland
Dec.
1 Holders of rec. Nov. 10
l
Special guaranteed (quar.)........... - ..........
N ov.
1 Holders of rec Soot IS
4
tina earlier this year. And regarding other countries, there Evansville & Terre Haute, common . —
N ov.
2 Holders of rec. O ct. 23
2)4
Georgia
Southern
&
Florida.
6rst
p
ie
f._
is no serious competitor except Egypt and Turkey. Egypt
2 Holders of roc. O ct. 23
2)4 NOV.
Second preferred-------------- -----------------Sept. 20
to
O ct. 20
has abundant harvests and requires gold to move the crops. Grand Trunk, guaranteed.....................
9 1%
Sept. 20
to
O ct. 20
First
preference.........................................
That everybody has understood for a long time and those
Holders
of
rec.
O ct. 18
Nov.
1
154
Northern (quar.t........ - - - - - ........
9
Nov. 10 slot. 21
to
Nov. 9
concerned have prepared for it. Turkey is borrowing Great
Missouri K an sas A Texas, preferred------Nov.
1
Holders
of
rec.
Oet.U-a
4)4
altogether eight millions sterling and therefore is in a Nashua & Lowell - - - ..........................
Nov.
1 Holders of rec. Oct. 15a
E
x
t
r
a
............................................................
position to take gold. But whether, under existing circum­ Norfolk & Western, Com m on..................... | 2)4 Dec. 17 Holders of rec. Nov. 30
1 Holders of ree. O ct. 8
Northern Pacific (quar.)............................. - 1 154 Nov.
stances, it will take much of the metal remains to be seen.
2
Nov. 10 Holders of rec. Oct. 23
second preferred----------- --------The stock markets have been depressed during the week, Reading,
to
Dec . 1
1)4 N ov. 15 Oct. 31
Rom e Watertown A Ogden, guar, (quar.;
N ov.
1 Holders of rcc. O ct. 18
the monetary uncertainties weighing upon all the higher St. Louis & San Fran., 1st pref. (quar.).. 1
3
Nov.
1 Holders of rec. O ct. 15
Utlca
Chenango
&
Susq.,
guar..................
classes of securities. Of course the fear that the House of
Street & Electric Railways.
Nov.
1 Holders of rec. O ct. 15
Lords will throw out the budget and that, therefore, we shall Cane Breton Elec. Co.. Ltd., pref
...I 3
1 Holders of rec. O ct, 15
Columbus
.) Ity., pref. tquar.i -<o 40). 1)4 N ov.
be plunged into a great crisis in which grave constitutional Connecticut(oBy.
Nov. 1 to
Nov. 15
Nov.
15
1
<t Ltq., com. <(• p r t.. (qu.),
and financial questions shall be raised, is also preventing East St I.. & Sub. pref. (auar.) (No. 14). 1)4 Nov. 1 Holders of rec. O ct. 15
N ov.
1 Holders of rec. O ct. 15
1)4
Grand
Rapid
s
R
y
..
prof.
(ouar.)
(N
o
36)
j
active operations. The rise in the Bank rate has generally
to
N ov. 13
Nov. 15 Oct. 25
H avan a Electric Ry., com. (quar.) (No. 4 ); 1
to
Nov. 13
been welcomed by the Stock Exchange. It puts an end to
Preferred (quar.) .(N o. 15)................! 1)4 Nov. 15 Oct. 25
! Holders of rec. O ct. 25
Nov.
I
l
Helena
Light
&
R
y
.
com
.
(q
u
a
r.)--------uncertainty, for nobody doubts that the Bank of England
Nov.
l
Holders
of
rec.
O
ct. 25
1)4
Preferred (quarterly)--------- ----------------will make the 5% rate effective.




fiPommcvcitiltiut\K -isccllanco us iXcxus

Per
Cent.

Nam e o f Company.

When
Payable

Books Closed.
Days Inclusive.

Street & Electric Rys— Concluded.

IK

Oct.
Nov.
Nov.
N ov.
Nov.
Nov.
Dec.
Dec.
Nov.

IK
IK
IK

Nov.
Nov.
N ov.
Nov.

3( Holders of rec. O ct. 30
Oct. 26
to
N ov. 1
: Holders of rec. Oct. 20
Oct. 14
to
N ov. 2
Holders of rec. Oct. 25a
Holders of rec. Oct. 25a
; Holders of rec. N ov. 15
: Holders of rec. N ov. 15
1
: Holders of rec. Oct.
: Oct. 21
to ................
i O ct. 16
to O ct. 31
£ Nov. 1
to
N ov. 5
11 Holders of rec. Oct. 20
Oct. 23
to
N ov. 1

Nov.
Nov.
Nov.
Nov.
N or.
N ov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
N ov.
N ov.
Oct.
Nov.

Holders of rec. Oct. 25
: Oct. 28
to
Oct. 31
: Oct. 28
to
O ct. 31
: Oct. 26
to
O ct. 31
; Oct. 22
to
O ct. 31
: Holders of rec. O ct. 22
O ct. 29
to
N ov. 1
Holders of rec. Oct. 21
Holders of rec. Oct. 21
Holders of rec. Oct. 21
Holders of rec. Oct. 28
Oct. 29
to
Oct. 31
O ct. 21
to ................
Holders of rec. Oct. 30
3 i Holders of rec. Oct. 27
Oct. 20 to
O ct. 31

K
IK
IK
2K

Mexico Tram ways (quarterly).
Montreal Street R y . (qu ar.)___
Ohio Traction, common (N o . 1 ).
Preferred (quar. ) . _....................
Pensacola Electric Co., preferred_
Preferred (extra)......... ..............

1

I K

3
3i
1
1

Railways Company General (qu ar.).

Banks.

American Exchange N ation a l.. .
Bowery (q u a r .)..... ...........................
E x t r a ........... ..................... ............
Chemical National (bi-m onthly).
City, National...................................
Corn Exchange (quarterly).........
Fidelity ............................................
G erm a n ia ______________ _____
E x t r a ............. ....................... ........
Greenwich (quar.)............................
Lincoln National (quar.)________
Metropolis, Bank o f the (quar. ) . . .
Nassau (N o. 113)....... ...........................
Nineteenth Ward (monthly) (N o. 40).
Pacific (quarterly)--------- ----------------Trust Companies.
Astor (quar.)............................................
Broadway (q u a r.)................................
Farmers’ Loan & Trust (qu ar.)_____
Hamilton, Brooklyn (qu ar.)......... ......
K ings County, Brooklyn (quar.)_____
Nassau, Brooklyn (qu ar.)................
People’s, Brooklyn (m on th ly)............
VanN orden (monthly) (N o. 2 9 )_____
Miscellaneous.
Amalgamated Copper (qu ar.)..............
American Chicle, common (monthly).
Common (extra.).............................—
Am er. Dist. Teleg. o f N . Y . (q u a r.)..

-

5
3
5
2K
5
4
3
10
2K
2K
2
4
2K

-

4
IK
2

-

2
IK

10
2K
3K

2
1
1

1K

Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
.Nov.
Nov.
N ov.
Nov.
Dec.
Nov.
Nov.
Nov.
Nov.
Dec.
Nov.
Jan.
Jan.
Nov.
N ov.
Nov.
Nov.
Nov.
Dec.
Oct.
Oct.
Nov.
Jan.
Dec.
Jan.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
Dec.
Nov.
Nov.
Nov.
Nov.
Nov.
Dec.
Nov.
Nov.
Nov.
Dec.
Nov.
Feb.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Jet.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Jec.
Nov.
Nov.

IK

Oc t .
Oc t .

1
1
1

K

IK

American Glue, common-----------------Common (extra).......................... ........
Amer. Light <&T ract., com . (quar.).
Common (extra )........... .....................
Preferred ( q u a r . ) . . ..........................

2
1
2
2K c
1K

American Malting, preferred.............
Am er. Teleg. A Cable, guar. (quar.).

$1.56

2K
IK

$4
3

Bond & Mortgage Guarantee (quar.) —
Brill (J. G .), preferred (qu ar.)---------------Butte Coalition M ining (quar.)----Butte Elec. & Pow., pref. (quar.) (No. 33)
Canton Co m pan y............. .........
E x t r a ................................ - Casein Company, pref. (quar.) (N o. 3 8 )..
ClallIn (H . B .) first preferred (quar.)----Second preferred (quar.)-----------------Commonwealtn-Edlson (quar.)............
Computing Scale (quar.).......................
Consolidated Gas o f New York (quar.)----Consolidation Coal (quar.)............
Distillers’ Securities Corp., (qu.) (No. 28)
Eastern Steamship (quar.) (No. 1).
E astm an K od a k, com. (q u ar.)...
Comm on (extra).................. .
Preferred (quar.)...................
Edison Elec. 111., Boston (quar.) (No. 82)
Electrical Securities Corporation, p re f...
Elec. Bond & Share Pref. (quar.) (No. 18)
Electric Properties, pref. (quar.) (N o. 12).
Federal Sugar Refining, pref. (quar.)----General Motors, common-------------Gorham Manufacturing, com. (quar.)----Guanajuato P. & E L , pref. (qu.) (No. 5)
Internal. Harvester, pref. (quar.) (N o. 11)
International Nickel, common (q u ar.)...
Common (extra)......................
Preferred (quar.).....................
Internat. Smokeless Pow. & Chem.. pref.
Internat. Steam Pum p, pref. (q u.)(N o42)
K an sas City Stock Y ard s (quar.) —
L a Belle Iron W orks (quar.)........
Lanston Monotype Macnlne (quar.)
Lehigh Coal A Navigation (N o. 124).......
E x t r a .......................... - .........
Mexican L igh t & Power, Ltd., pref........
Michigan State Telephone, com. (quar.).
Preferred ( q u a r . ) ....................
Preferred (q uar.)............. ........
Milwaukee & Chicago Breweries, L t d ----Minneapolis Gen. Elec. com. (qu.)(No.9)
Montreal Light, H t. & Pow. (qu.)(No.34)
Municipal Gas, Albany, N . Y . (q u ar.)...
National Lead, pref. (quar.) (No. 7 2 )...
Nevada Consolidated Copper (No. 1)___
New Central C o al........................
_
New England Cotton Yarn. pref.(quar.).
Pacific Coast Co., com. (quar.) . . .
First preferred (quar.).............
Second preferred (quar.)........ .
Pennsylvania Steel, pref..............
People’s G as L igh t & Coke (quar.)-------Pope Manufacturing Co., pref. (quar.)__
Pressed Steel Car, pref. (quar.) (N o. 43) ..
Procter & Gamble, com. (q uar.)-----------Public Service Investment Co., pi. (quar.)
Pullm an Com pany (quar.) (No. 171)----Sears, Roebuck & Co., com. (quar.)........
Siegel Stores, pref. (quar.) (No. 1)_____
Silversm iths Company (quar.)....... —
Standard Milling preferred (No. 1 3 ) ___
United Bank Note Corp., common (quar.).
United Cigar Mfrs., common (quar.)___
Comm on (extra)............................ United D ry Goods Cos., com. (quar.)----United Electric Securities, pref________
United Fruit (extra)............... .......... .
U. S. Bobbin A Shuttle, preferred (quar.).
U nited States Envelope, pref. (special)..
United States Express (No. 152)_______
U. S. SteelCorp., common (quar.) N o. 24)
Preferred (quar.) (N o. 34 )...............__
U. S. Realty & Improvement (quar.)___
U. S. Rubber, 1st prof, (quar.).............
Second preferred (quar.)..................
W arw ick Iron -t Steel_______________
W ashington (D . C.) G as L igh t (quar.)----W h !1" (J. a .) & Co., pref. (quar.)..........
W orth agton (II. R .) Inc., pref-------------

Nov.
Nov.
:
Nov.
:
Nov.
:
Nov.
:
i
Nov.
Nov.
]
Oct. 30

I K

10 K
25c.
IK
IK

50c.
2
I
I
I
I

1

K
K
K
K

IK
K
1
2K
2K
IK
2K
2K
lK
IK
IK

150*
2K
IK
IK
1
K
IK

4

IK
IK
2
IK

4
1
3K

IK
IK
IK
2K e
1K
IK
2K
IK
37 K c .
2
1K b
IK
1K
1K
3K
lH
IK
IK

3

SiK

2

lK

IK
1

IK
1

1
1
2
3K
10
21

3
1

IK

2
3

2K
IK

3K

Nov.
Nov.
Nov.
Nov.

Holders of rec.
Oct. 22
to
O ct. 24
to
Holders of rec.
Oct. 26
to
Oct. 28
to
Holders of rec.
Holders o f rec.

Oct. 27a
O ct. 31
Oct. 31
O ct. 25
O ct. 31
N ov. 1
Oct. 30
O ct. 27

29 Holders of rec. O ct. 28
21 Nov. 16
to
N ov. 20
2( Nov. 16 to
N ov. 20
lfi Holders of rec. Nov. la
1 Oct. 23
to
N ov. 2
] Oct. 26
to
O ct. 31
J Oct. 26
to
O ct. 31
1 Oct. 21
to
O ct. 31
15 Oct. 21
to
Oct. 31
1 Oct. 21
to
Oct. 31
to
N ov. 11
: Oct. 22
Oct. 22
to
N ov. 11
] Holders of rec. N ov. 30
i Oct. 24
to
N ov. 2
15 Holders of rec. N ov. 6
1 O ct. 27
to
O ct. 31
2( Nov. 10
th
N ov. 20
to
D ec. 1
1 Nov. 16
1 Holders of rec. O ct. 15
1 Dec. 21
to
Jan. 2
1 Dec. 21
to
Jan. 2
10 Oct. 31
to
N ov. 9
1 Oct. 24
to
N ov. 2
1 Oct. 24
to
N ov. 2
1 Oct. 22
to N ov. 1
1 Oct. 21
to
O ct. 31
15 Holders of rec. N ov. 17
30 Oct. 24
to
Oct. 31
30 Sept. 30
to
Oct. 20
1 Holders of rec. O ct.lfi
1 Holders of rec. N ov. 30
1 Holders of rec. O ct. 30
1 Holders of rec. N ov. 30
1 Holders of rec. O ct. 15
1 O ct. 30
to
N ov. 10
1 Oct. 17
to
N ov. 2
10 Nov. 2 to
N ov. 10
1 Holders of rec. Oct. 29a
15 Nov. 5
to
N ov. 14
10 Holders of rec. N ov. 8
1 Oct. 16
to
N ov. 1
1 Holders of rec. N ov. 11
1 Nov. 12
to
Dec. 1
1 N ov. 12 to
Dec. 1
1 Oct. 13
to
N ov. 1
15 Holders of rec. N ov. 5
1 Oct. 21
to
N ov. 2
1 Holders of rec. Oct. 15a
1 Oct. 24
to
Oct. 31
30 Dec. 17
to
D ec. 30
27 Holders of rec. Oct. 30
27 Holders of rec. Oct. 30
1 Oct. 24
to
O ct. 31
1 Nov. 19 to
D ec. lh
1 O ct. 19
to
N ov. 1
to
Feb. 1
1 Jan. 19
1 O ct. 24
to
N ov. 1
1 Holders of rec. Oct. 22
15 Holders of rec. Oct. 30
1 Oct. 26
to
N ov. 1
to
Nov. 23
lfi Nov. 20
31 Holders of rec. Dec. 1
1 Oct. 28
to
N ov. 2
1 Oct. 16
to
Oct. 31
1 Oct. 23
to
N ov. 1
1 Oct. 23
to
N ov. 1
1 O ct. 23
to
N ov. 1
1 Holders of rec. Oct. 16
26 Holders of rec. Nov. 4
1 Holders of rec. Oct. 26
24 Nov. 4 to
N ov. 23
15 Holders of rec. Oct.30a
1 Holders of rec. Oct. 22
lfi Hodlers of rec. Oct. 30
15 Holders of rec. N ov. 1
1 Holders of rec. Oct. 15
15 Holders of rec. N ov. 10
30 Jet. 26
to
Oct. 31
to
N ov. 15
lfi Nov. 2
1 Iolders of rec. O ct. 26
1 Holders of rec. Oct. 26
1 )ct. 26
to
N ov. 1
1 Holders of rec. Oct.23a
15 [Iolders of rec. O ct. 29
1 Jet. 21
to
Oct. 31
10 Jet. 24
to
N ov. 10
N ov. 15
15 Nov. 1 to
30 Jec. 11
to
Dec. 30
30 8ov. 6
to
N ov. 30
1 Iolders of rcc. O ct. 20
30 Holders of rec. Oct. 15a
30 Holders of rec. Oct. 15a
15 Jet. 31
to
N ov. 15
1 )ct. 16 to
Oct. 31
1 Holders of rec. O ct. 23
1 Jet. 21
to
N ov. 2

a Transfer books not closed. 6 Declared 6 % , payable In quarterly Installments.
d Payable In com m on stock, e Less Income tax. h Correction, i On account of
accumulated dividends. * Payable In com mon stock.




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. 23.
The figures for the separate banks arc the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
W e omit two ciphers (00) in all cases.
Banks.
00s omitted.

Capital.

Surplus.

Loans.
Average.

Specie.
Legals.
Average. Average.

$
$
$
S
Bank of N. Y . .
2,000,0
3,374,4
19,022,0
3,391,0
Manhattan C o.
2,050,0
4,088,4
30,100,0
7,552,0
Merchants’ ____
2,000,0
1,642,1
18,510,0
3,741,0
Mechanics’ ____
3,000,0
3,767,3
26,763,0
5,432,0
A m e r ic a ...........
1,500,0
5,674,1
24,055,6
4,196,2
P h e n lx ..............
1,000,0
657,9
8,185,0
1,610,0
City .................. 25,000,0 29,046,9 179,692,5 39,633,7
Chemical______
3,000,0
6,059,1
28,891,5
5,114,6
Merchants’ E x .
600,0
532,0
6,753,2
1,578,5
Gallatin.............
1,000,0
2,468.4
8,806,3
881,5
Butch. & D rov.
300,0
148,0
2,185,9
490,6
G re e n w ich ____
500,0
779,7
7,207,3
1,811,8
American Exch.
5,000,0
5,220,0
29,989,1
4,068,1
Commerce_____ 25,000,0 15,594,5 141,565,3 24,166,3
3,000,0
2,564,5
13,861,6
2,013,0
M erca n tile____
Pacific ..............
898,9
3,906,8
379,0
500,0
Chatham...........
1,025,0
7,019,3
864,9
450,0
475,4
2,439,6
People’s ...........
200,0
533,5
61,123,2 12,672,0
H an over...........
3,000,0 10,922,2
1,508,6
Citizen’s C e n t..
22,611,7
6,574,2
2,550,0
465,8
6,254,6
N a s s a u _______
500,0
585,5
1,671,5
7,934,0
Market & Fult.
1,000,0
1,130,5
1,395,2
12,214,1
Metropolitan . .
2,874,9
2,000,0
Corn Exchange.
3,000,0
5,310,9
40,763,0
8,097,0
Im p. & Traders’
7,415,9
25,621,0
1,500,0
3,514,0
P a r k ................
3,000,0
9,750,2
85,126,0 23,073,0
East R iver-----250,0
103,7
1,460,8
348,7
F o u r t h ..............
3,000,0
3,324,7
21,943,0
4,052,0
Second ..............
1,000,0
1,845,4
12,909.0
2,960,0
F i r s t .................. 10,000,0 19,023,9 104,205,2 23,527,4
Irving E x c h .. .
2,000,0
1,441,4
20,677,9
3,864,8
Bowery ...........
250,0
811,7
3,460,0
791,0
N .Y . C o u n ty ..
500,0
1,598,3
8,253,2
1,303,2
German-Amer...
649,7
750,0
4,187,7
836,1
6,685,1
Chase..................
5,000,0
75,270,0 18,381,0
2,055,5
Fifth A v e n u e ..
100,0
13,647,2
2,984,1
German E x c h ..
880,1
200,0
3,679,8
412,3
1,040,4
G erm ania.........
200,0
5,249,2
956,4
L in co ln _______
1,000,0
16,359,2
1,373,8
3,406,0
Garfield----------1,000,0
7,501,6
1,148,8
1,813,5
F i f t h ....... ..........
250,0
474,4
3,594,3
672,7
M e tro p o lis____
1,000,0
1,401,2
2,006,9
11,182,0
W est Side.........
200,0
1,055,0
1,130,0
4,648,0
Seaboard______
1,000.0
1,765,3
18,819,0
3,860,0
L ib e r ty ......... ..
1,000,0
2,615,2
16,419,0
3,677,1
N. Y . Prod. Ex
1,000,0
738,7
7,719,6
2,184,4
State ..................
1,000,0
825,4
13,328,0
3,679,0
14th Street-----1,000,0
331,0
5,431,2
794,6
Copper ..............
2,000,0
2,734,3
29,019,2
6,730,8
Coal & I . N a t ..
1,000,0
305,2
5,131,0
1,015,0

$
1,275,0
1,576,0
1,205,0
1,306,0
1,987,5
473,0
5,975,0
2,044,7
127,9
784,8
122,1
200,0
1,949,7
9,150,8
818,4
555,9
1,004,0
132,7
7,478,6
321,5
999,1
904,0
219,7
5,637,0
2,125,0
1,212,0
109,1
2,100,0
450,0
1,235,1
1,756,1
55,0
651,6
227,7
4,678,0
1,106,9
475,2
551,5
935,9
262,9
328,9
1,467,8
243,0
1,643,0
813,9
232,1
263,0
621,5
924.4
345,0

Deposits.
Average.
$
%
16,969,0 27.5
35,000,0 26.0
18,761,0 26.3
26,863,0 25.0
24,508,4 25.2
7,684,0 27.6
171,528,4 26.6
27,556,6 26.1
6,907,3 24.7
6,499,4 25.6
2,233,8 27.4
8,036,5 25.0
23,149,2 26.1
120,405,9 27.7
10,491,7 26.9
3,573,4 26.1
7,410,7 25.2
2,357,4 28.2
71,822,9 28.1
22,620,4 26.2
6,837,3 23.1
7,636,0 26.6
12,382,2 25.0
49,314,0 27.8
22,921,0 24.6
96,011,0 25.2
1,484,0 30.8
23,936,0 25.6
13,352,0 25.1
94,556,4 26.1
21,835,9 25.7
3,525,0 24.0
8,317,9 23.8
4,087,1 26.0
83,922,2 27.4
15,594,2 26.2
3,674,9 24.1
6,063,4 24.8
17,617,8 24.6
7,708,7 26.9
3,952,7 25.3
11,138,6 25.7
5,191,0 25.0
21,648,0 25.5
16,225,5 27.6
9,267,1 26.0
16,142,0 24.4
5,817,1 24.4
30,960,1 24.7
5,019,0 27.1

Totals, Average 127,350,0 177,371,8 1234,696,7 255,685,1 71,063,0 1240,417,1 26.3
Actual figures J<Oct. 2 3 ..

.............. 1235,399,2 :254,248,1 72,365,6 1240,025,4 26.3

On the basis of averages, circulation amounted to $52,614,000 and United States
deposits (Included In deposits) to $1,669,200; actual figures October 23, circulation,
$53,032,900; United States deposits, $1,671,400.

The State Banking Department also now furnishes weekly
returns of the State banks and trust 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:
ST A TE BA N K S AND TR U S T COM PANIES.

Week ended Oct. 23.

State Banks
Trust Cos.
State Banks
Trust Cos.
in
in
outside o f
outside o f
Greater N . Y. Greater N . Y . Greater N . Y . Greater N . Y.
$
26,075,000

$
61,425,000

$
*8,598,000

38,495,200

163,268,300

*10,316,230

*9,786,676

296,273,200 1,113,530,700
— 4,254,800 — 10,322,800

88,043,800
+ 72,500

132.984,500
— 69,100

Capital as of Sept. 14____
Surplus as o f Sept. 14-----Loans and Investments - Change from last w eek.

$
*7,725,000

Specie ...............................
Change from last week.

47,904,800
+324,200

121,604,200
— 805,400

Legal-tenders & bk. notes
Change from last week.

25,689,900
— 1,547,500

13,528,800
— 520,700

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

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

Deposits ............................
Change from last week.

339,838,500 1,173,248,300
— 6.534,400 — 14,295,200

93,368,100
— 782,700

140,602,400
— 72,300

Reserve on deposit_____
Change from last week.

91,437.500
— 2,481,600

141,292,500
— 1,585,500

19,510,100
— 672,600

18,492,700
— 408.600

P. C. reserve to deposits.
Percentage last w e e k ..

27.4%
27.7%

16.01%
15.9%

+ Increase over last week.

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

_____

21.6%
22.1%

— Decrease from last week.

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

........

13.7%
14.0%

* As o f April 28.

Note.— "Surplus” Includes all undivided profits. “ Reserve on deposits” in
eludes, for both trust companies and State banks, not only cash Items, but amounts
due from reserve agents. Trust companies In New Y ork State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below. The percentage of reserve required Is com puted on
the aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre­
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York. The State banks are likewise required to keep a reserve varying
according to location, but In this case the reserve Is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
— Trust Cos.—
— State B a n k s Reserve Required fo r Trust Companies
' Total
Of
Total
Of
and State Banks,
Reserve
which Reserve
which
Location—
Required, in Cash.Required, in Cash
15%
25%
15%
Manhattan B o r o u g h ....... ...........................................15%
10%
20%
.1 5 %
Brooklyn Borough(wlthout branches In M anhat.).15%
10%
10%
i.15%
Other Boroughs (without branches In M anhattan).15%
15%
7K %
25%
15%
Any Borough with branches In Manhattan......... ..1 15%
5%
15%
10%
15%
5%
Elsewhere In State....................................................
6%
+ Increase over last week. — Decrease from last week.

The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
Home. These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing­
House banks. In addition, we have combined each corre­
sponding item in the two statements, thus affording an aggre­
gate for the whole of the banks and trust companies in the
Greater New York.
N EW Y O R K C IT Y BA N K S AND T R U S T COM PANIES.

Week ended Oct. 23.

Clear.-House
Banks.
Actual Figures

1
Clear.-House State Banks it Total o f all
Trust Cos. not Banks& Trust
Banks.
in C .-H . Aver. Cos. Average
Average.
S

$

$

S
) Nat. Banks)
C apital > Sept. 1 ...1
State Banks |
Surplus ) Sept. 14.-J

127,350,000

127,350,000

177,371.800

177,371.800

Loans and Investments 1,235,399,200 1,234,696,700
— 8,747,300
+ 3,988,200
Change from last week

71,550,000

198,900,000

172.199,700

349,571,500

1,210,323,300 2,445.020,000
— 10,810,900 — 19,558,200

D e p o s it s ............... . 1,240,025,400 1,240,417,100 a l , 174,800,800 2,415,217,900
— 5,407,600 — 12.789,700 — 18,197,300
+ 4,977,700
Cnango from last week
254,248,100
+ 452,600

Chango from last week

72,365,600
+ 1,860,800

Legal-tenders............
Change from l:ust week

128,466,700
— 803,400

384,151,800
+3,563,200

71,063.000
+ 634,200

622,631.900
— 028,700

93,694,900
+ 5,500

6151,098,600
— 1,432,100

477,840,700
+ 3,568,700

21.993,600
— 1,309,700

21,993,600
— 1,309,700

326,748,100
+ 5,000,800

326,613,700
+ 2,313,400

A ggr’te money holdings
Change from last week

255,685,100
+ 4,366,600

Money on deposit with
Change from last week
Total reserve_____
Change from last week

326,613,700
+ 2,313,400

326,748,100
+ 5,000,800

173,092,200
— 2,741,800

499,840.300
+ 2,259,000

26.37%
26.20%

26.37%
25.85%
16,643,825

17.3%
17.1%

..........

Percentage to deposits
requiring reserve__

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

Banks.
Boston.
Oct.
2 ..
Oct.
9 ..
Oct. 1 6 ..
O ct. 2 3 ..
Phila.
Oct.
2 ..
Oct
9 ..
Oct. 1 6 -.
Oct. 2 3 ..

Capital
and
Surplus.

Loans.

$
40,300,0
40.300,0
40,300,0
40,300,0

$
215,389,0
215,782,0
218,923,0
213,357,0

The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:

Legals. Deposits, a Circu­
lation.

S
25,099,0
24,680,0
24,583,0
24,276,0

$
4,496,0
4,274,0
4,709,0
4,386,0

77,025,0
73,087,0
73,274,0
70,791,0

56,315.0 274,897,0
56.315,0 274,955,0
56,315,0 271,311,0
56,315,0 266,875,0

Aug.
Sept.
Sept.
Sept.
Sept.
Oct.
Oct.
O ct.
O ct.

2 8 ..
4 ..
1 1 ..
1 8 -2 5 ..
2 ..
9 - ..
1 0 ..
2 3 ..

S
2.580.237.8
2.673.391.2
2,568,181,7
2,552,792,6
2.543.778.0
2,548,179,4
2.519.375.9
2.464.578.2
2.445.020.0

Deposits.
$
2,614,262.2
2,600,051.5
2,578,878,7
2,565 384.6
2.545.711.1
2.541.198.2
2.194.502.9
2.433.415.2
2.415.217.9

Specie.
S
425.367.2
420.241.8
410.884.4
405.927.4
405.999.3
398.308.5
386.769.7
380.588.6
384.151.8

Tot. Money',Entire Res.
Holdings. :on Deposits

Legals.
S
99.986.0
98,538.2
95.234.0
95.001.1
94.153.5
92.258.2
91.625.6
93.689,4
93,694,9

S
525.353.2
518.783.0
506.118.5
500.928.5
500,152,8
490.606.7
478.395.3
474.278.0
477.846.7

S
552.476.3
546.731.7
535.304.8
528.412.4
525,896,1
514.587.8
502.420.3
497.581.3
499.810.3

Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending Oct. 23, based on average daily results:
W e omit two ciphers (00) in all these figures.

Capi­
tal.
N. Y. City.
Boroughs of
Man.<t llrx.
S
100,0
Wash. I l’ ts.
200,0
Century ___
400.0
Colonial —
300.0
Columbia - ­
200.0
Fidelity . . .
500.0
J e ffe r s o n ...
250.0
Mt. Morris.
200.0
M utual____
100,0
Plaza____
200,0
23d W a r d ..
U n.E x.N at. 1, 000,0
Yorkvllle . .
100,0
New N cth’d, 200,0
200,0
Batt.Pk.Nat
Aetna N at.
300,0
Borough o f
Brooklyn.
200,0
Broadway
252.0
Mfrs.’ N at.
1, 000,0
Mechanics’
750.0
Nassau Nat
300.0
Nat. C lt y ..
200.0
North Shlo.
Jersey City.
400.0
First N a t..
250.0
H ud.Co.Nat
200.0
Third N a t-.
Hoboken.
220,0
First N at.
125,0
Second Nat.

Sur­
plus.

S
243,1
154.4
283.5
452.0
164.3
057.7
283.8
322.3
410.0
95,4
934.4
450.0
258.4
140.5
310.8

Loans,
Dlsc'ls
and
Invest­
ments.

S
1,282,0
1,026,8
5.282.8
5.948.0
999,
3.718.8
2,764,3
3.915.2
3.945.0
1.972.0
7.943.6
4.131.2
2.124.0
1.134.7
1.974.0

Specie.

S
133.0
30.6
856,6
026.0
87,4
12,3
509,2
23,8
319.0
185,4
987.8
46,1
216.0
247.9
425,8

Legal
Tender
and
Bank
Notes.

205.2
454.3

32,

27,6

Deposit with—
Clear­
ing,
Agent.

S
170,0
71,6
542,1
707,0
107,0
150,5
312,8
401,2
453,0
297,3
89,1
246,9
236,0
75,2
64,6

Other
Net
Banks, Deposits.
itc.

$
130,5
210,3
206,9
88,4
5,2

251,8
15,0
23,1

8
1,291,0
1,800,0
0,725,4
7,269,0
1,001,8
3,683,0
3,507,4
4,403,8
4,070,0
2,325,8
7,900,3
5,334,2
2,310,0
1,138,7
1,849,7

26.9
539,3
287,7 1, 200.1
418.0
110.0
139.1

297,4
662,8
1,140,3
1,061,0
699,0
149,9

167,4 3,950,0
138,0 6,439,5
259,2 14,085,5
7,178,0
160,0 5,424,0
139,7 2,202,0

725.8
380,2

4,563,5
2.922.7
2 . 001.1

304.6
130.2
04.9

2,225,3
131,4
345,0

566,0
128,3
15,9

6,332,5
2,519,9
2,192,8

620,5
232.0

2.486.0
2.437.1

110.6
81,4

123,9
60,4

61,9
265,3

2.004,6
2,722,0

531,3 3.364.5
787.0 5,904,3
927.7 11,389,7
949.0 7.130.0
593.8 4.262.0
139.7 1.993.6

1, 222,1

T ot. O ct. 23 8,147,0 12.290.4 97,276,3 6,937,6
T ot. O ct. 10 8,147.0 12.290.4 98.338.8 0,849,9
Tot. O ct. 0 8,147,0 12.296.4 98.076.9 6,823,9

10.820,7 2,832,9 110322,1
) 10,872,7 2,894,-! 111867,3
12,247,5
302,0 114143,5

Boston and Philadelphia Banks.— Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.




$
6,979,0
7,032,0
7,064,0
7,047,0

%
164,972,1
177,033,1
178.720,0
177.253.1

326,855,0
322,016,0
320,662,0
313,779,0

16,649.0
16,800,0
16,835,0
16,843,0

153.247,1
154,064,6
143,127,8
155,369.5

FO R E IG N IM PO RTS AT N EW Y O R K .
1909.

1908.

1907.

1906.

S3.016.468
12,948,217

S2,605,995
11,698,111

S3,142,362
14,674,160

S3.106.747
14,514,714

S15.964.685

S14.304.106

317,816,522

$17,651,461

For Week.
Dry G oods__________________
General Merchandise..............
Since January 1.
General Merchandise......... ..

S136.175,072
560,989,062

$99,087,759 $152,529,228 $130,332,631
407,003,523 552,952,070 485,488,908

Total 42 weeks.................... S697,164,134 S506.091.282 $705,481,298 $615,821,539

The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 23 and from Jan. 1 to date:
E X P O R T S FROM N EW Y O R K FO R T H E W E E K .

For the w eek..............- ............

1909.

1908.

1907.

1906.

$14,380,018
478,506,820

SI 1,505,719
506,108,397

$13,130,780
507,132,557

$11,134,733
479.905,105

$492,886,838 S517.614.116 5520,269,343 $491,039,838

The following table shows the exports and imports of
specie at the port of New York for the week ending Oct. 23
and since Jan. 1 1909, and for the corresponding periods in
1908 and 1907:
E X P O R T S AN D IM PO RTS O F SPECIE AT N EW Y O R K .
Im p o rts.

E x p o r ts .

Gold.
W eek .

S in c e J a n .

1

$3,650
4,483

2,071,195
5,000
43,378,450
4,039,695

10,686
8,955
86,902

$220,000 $75,324,692
47,647,925
30,140,972

Total 1909......... ........ ............ ..........
Total 1908........................ .................
Total 1907......... ................................
Silver.
Great Britain .................................—
Franco ..................................................
Germany ................................... ..........
West Indies....... .................- .................
Mexico ____________________ _____ South Am erica....... .......... .............. ..
All other c o u n tr ie s ........... .............. -

W eek.

$13,958,120
13,881,232

$220,000

South Am erica.....................................
Loans and
Investments.

$
265,224,0
269,222,0
273,934,0
266,800,0

Imports and Exports for the Week.— The following are
the imports at New York for the week ending Oct. 23: also
totals since the beginning of the first week in January:

COM BIN ED RESULTS O F BANKS AND TR U S T COMPANIES IN
G R E A T E R N EW Y O R K .
We omit two ciphers (00) In all ihes■;figures
Week
Ended.

Clearings.

a Including Government deposits and the Item "due to other ban ks." A t Boston
Government deposits amounted to $2,513,000 on O ct. 23, against 82,010,000 on
Oct. 16.

Total 42 weeks..............—
+ Increase over last week. — Decrease Irom last week.
a These are the deposits after eliminating the Item “ Due from reserve depositories
and other hunks and trust companies In New York City;’* with this item Included,
deposits amounted to $1,289,714.300, a decrease of 813,792,000 from last week. In
the case of the Clearing-House batiks, the deposits arc “ net'’ both for the average
and the actual figures, b Includes bank notes, c Of this amount State banks held
$15,965,000 and trust companies $135,133,000.

Specie.

1,097.514

1

$203,889
2,167,346
10,523
688,828
403,380
2,080,168
1,785,456

SI 14,676 $7,399,590
493,354 15,011,888
8,020,157
394,269
$243
76
143
1,190
26,913
13,652

$219,485
6,689
68.856
109,935
1,836,628
806,462
951,329

$42,217
71,100
229,437

$3,999,384
3,140,108
2,899,808

$578,168 $33,291,080
3,415,250
25,500
11,090
108,966
......... 245
' ’ 44*226
30,712
$601,913 S36.901.321
949,727 34,768.151
998,154 41,613,989

Total 1909.........................................
Total 1908............................ ............
Total 1907.........................................

S in c e J a n .

" Of the above imports for the week in 1900, $2,560
were American gold coin and $900 American silver coin.
Of the exports during the same time, $220,000 were Ameri­
can gold coin and $ ____were American silver coin.________

iOnnhnuj and gluanctal.
IN VESTM EN T SECURITIES
O ur e ig h t-p a g e circu la r N o . 687 d escrib es several Issues o f s o u n d
In v e stm e n t b o n d s y ie ld in g a b o u t 4 IS to 5 B % .

Spencer T ra sk & C o ♦
WILLIAM AND PINE STS.,
NEW YORK
Branch offices: Chicago. ILL.. Boston. Alass.. Albany. N. Y.

M O F F A 1

&

W

HITE

BANKERS
Members New York Stock Exchange
5 NASSAU S T R E E T .
NEW YO RK

THE RO O K E RY
C H IC A G O

B A N K I N G an d E X C H A N G E o f e v e ry d e s crip tio n In c o n n e c tio n w ith

EXPORTS & IMPORTS

International Banking Corporation
60 Wall St.. New York.

CAPITAL & SURPLUS, $6,500,000

B R A N C H E S an d A G E N C IE S th r o u g h o u t th e W O R L D .

T H E IN T E R N A T IO N A L
Organized under the Laws of N. Y. State.
A c c o u n ts In vite d .

BANK
60 Wall St., Now York.

In te re s t p aid o n T e r m D e p o sits.

THOMAS H. HUBBARD. President.

jOankjers’ ©alette.

State and Railroad Bonds.— Sales of State bonds at the
Board $33,000 Virginia 6s deferred trust rccets at 47.
The railway bond market has again been inactive and
Wall Street, Friday Night, Oct. 29 1909.
irregular. Fluctuations have been narrow in most cases,,
The Money Market and Financial Situation.— The financial however, and fractional advances arc about evenly offset
situation on both sides of the Atlantic has settled into more by corresponding declines.
Only a few issues have been in any way exceptional,
normal conditions this week. The Bank of England’s rate
of discount has not been lowered and in the open London among which are Pennsylvania, Atchison and Norfolk &
market rates continue firm, but security values there have Western convertibles, which are from 1 to 2 34 points higher
an upward tendency and at Continental centres the money than last week, and some of the industrial bonds, including
markets have an easier tone. Indeed, everywhere in finan­ Bethlehem Steel, Central Leather and Distilling Securities
Corporation, which have been relatively weak.
cial circles there is a more cheerful feeling.
Locally this better feeling is stimulated by the increasing
United States Bond3.— Sales of Government bonds at the
volume of general business now reported, especially in the Board include $10,000 3s,rcg., 1908-18, at 101%; $10,000 2s,
South and West. A ctivity is not limited, however, to those rcg., 1930, at 10034, and $10,000 Panama2s, rcg., 1936, at 100.
sections. An official of the New York Central Lines is The following are the daily closing quotations; far yearlyquoted as saying that the traffic over these lines during range see third page following.
September and October has been the largest in the history of
Interest
Oct.
Oct.
Oct.
Oct.
the road; that every available engine and freight car belong­
Oct.
Oct.
Periods
23
25
20
29
27
28
in g to the company is in use, and that the traffic might be
substantially increased if they had equipment sufficient to 2s, 1930 ____ _____ registered Q —Jan *100% *100% 100% *100% *100% *100%
____ coupon Q— Jan *100% *100% *100% *100% *100% *100%
2s, 1930_____
handle it.
3s, 190S-08-- _____ registered (1— Feb *101% *101% 101% *101% *101% *101%
It is well known, moreover, that several large railway 3s, 1908-18 _______ coupon Q— Feb *101% *101% *101% *101%
*101 >3 *101%
1993-18.- ..sm a ll coupon (1— Feb
systems, including the above-mentioned, have placed heavy 3s,
*110
*116
4s, 1925 ____ ......... registered 0 — Feb *116
*110
*110
*116
orders for equipment to be delivered during the year 1910. 4s, 1925_____ ......... .. .coupon Q— Feb *117 *117
■117
*116% *110% *110%
*99% *99%
That such orders are increasing is evidenced by an unusal 2s, 1930 Panama Canal regls Q— Feb *100% *100% *100% 100
2s, 1938.Panama Canal regls Q— Nov *100% *100% *100% *100
*100
*100
demand for the securities of the equipment companies this
I
week and a corresponding advance in prices. The advance
*Thl3 Is the price bid at the morning board; no sale was made.
has, however, extended to every department of the Stock
Railroad and Miscellaneous Stocks.— The stock market has
Exchange and included, especially to-day, all classes of again been irregular, and was especially so during the early
securities.
part of the week. Beginning on Wednesday it has been steadier,
The open market rates for call loans at the Stock Exchange with a firm, developing into a strong, tendency, to-day, and
during the week on stock and bond collaterals have ranged in practically all cases a part of the decline noted last week
from 3 to 4f<j%. To-day’s rates on call were 3@ 4% . has been recovered. The net results of the week’s operations
Commercial paper quoted at 5@5 34% for 60 to 90 day en­ arc very irregular, however, some issues showing an advance
dorsements and for prime 4 to 6 months’ single names.
of 2 to 3 points and others a similar decline. The notably
The Bank of England weekly statement on Thursday strong features of the railway list are Atchison, which is up
showed a decrease in bullion of £536,051 and the percentage over 3 points, Southern Pacific, Missouri Kansas & Texas,
of reserve to liabilities was 45.80, against 47.60 last week.
Union Pacific, Reading and Interboro-Metropolitan, which
The rate of discount remains unchanged at 5% as fixed are from 2 to 3 points higher than last week. On the other
October 31. The Bank of France shows a decrease of hand Great Northern sold on Wednesday 4% points below
4,775,000 francs gold and an increase of 2,600,000 francs last week's closing price, North West 234, Northern Pacific
silver.
and Delaware & Hudson nearly 2 and a few other issues
N E W Y O R K C IT Y CLEA RIN G-H O U SE BA N K S.
have had a tendency to weakness.
Amalgamated Copper has been in such request as to carry
1907.
1908.
1909.
it up 634 points within the week and American Sugar
Averages fo r Averages fo r
Differences
Averages fo r
week ending week ending
week ending
from
Refining and United States Steel are between 2 and 3 points
Oct. 20.
Oct. 24.
Oct. 23.
■previous week.
higher. Consol. Gas on the other hand, is 234 points lower.
s
For daily volume of business see page 1134.
S
S
S
129,100,000
120,350,000
127,350,000
The following sales have occurred this week of shares not
103,396,900
163,720,100
177,371,300
Loans and discounts__ 1,234,090,700 Dec. 8,747,300 1,338,420,900 1,087,711,000 represented in our detailed list on the pages which follow:
Circulation____________
U. S. dep. (Incl. above)
Specie ________ _______
Legal tenders__________

52,014,000 Inc.
1,240,417,100
1,609,200 Tnc.
255,085,100 Inc.
71,003,000 Inc.

Reserve held__________
25% of deposits--------Surplus reserve.........
Surplut excl. U. S. dep

51,398,300
53,195,900
075,900
5,407,000 1,418,132,400 1,023,772,000
48,003,600
17,100
9,248,200
190,420,000
4,330,000 300,290.100
58,2S3,700
034,200
81,122,900

326,748,100 Inc.
310,104,275 Dec.

5,000,800
1,351,900

10,043,825 Inc.

0,352,700

32,880,000 dor. 1,233,300

17,001,125 Inc.

6,350,975

35,192,050

387,413,100
354,533,100

254,709,700
255,943,000

10,782,000

N ote.— The Clearing House now Issues a statement wmM v showing the total of
the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary Issued by the State Banking Department
showing the 'n n d f o n of State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.

Foreign Exchange.— Discounts in London were well main­
tained during the week, yet sterling here closed lower than
it was quoted a week ago.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 84 for sixty days and 4 88 for sight. To-day’s
actual rates for sterling exchange were 4 8320 @4 8330 for
long, 4 8720@4 8725 for short and 4 8770@4 8775 for
cables. Commercial on banks 4 8280@4 8290 and docu­
ments for payment 4 82@4 8 2 % . Cotton for payment 4 83
@4 8334 and grain for payment 4 8 3 % @ 4 8334To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 20a@5 20 for long and 5 I 7 % d @ 5 17% for short.
Germany bankers’ marks were 94 7-16@94 9-16 for long
and 95 3 -lfi@ 9 5 % d for short. Amsterdam bankers’ guilders
were 40 12@40 14 for short.
Exchange at Paris on London, 25f. 22% c.; week’s range,
25f. 2234c. high and 25f. 2 l% c . low.
The week’s range for exchange rates follows:
■Long----------------------------- Short-------------- --------------- CablcsSterling Actual—
© 4 8815
14 88
@ 4 8775
H ig h .......... 4 8365
@ 4 8375
I[ 4 8705
© 4 8760
14 8750
@ 4 8705
4 8695
Low - ......... 4 83
@ 4 8310
Paris Hankers' Francs—
@ 5 16%
@ 5 10%
15 16 H d
H igh______ 5 19%/»
@ 5 19H o 15 16 'Ad
@ 5 10%
15 10 Hd
@ 5 17%
\5 n y $ a
L o w ______ 5 20a
@ 5 20d
Germany Hankers' M arks—
1 95 5-10 © 95*Ad
H igh--------- 94 7-16* © 94
1 95 H d
(«) 95%
L o w ____ _ 94%
(a) 95 5-10
© 94 7-16d| 95 3-16(1 © 95 3-10 | 95% z
Amsterdam Hankers’ Guilders—
High — ...................... ..
© 40 25
© 40 20 I 40 24
40 19
L o w ...............................
© 4019
© 40 15 | 40 18
40 13%
Less:
Plus:

a 1-16 of 1% .
A; 1-16 of 1% .

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

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

The following were the rates for domestic exchange on
New York at the undermentioned cities to-day: Chicago,
5c. per $1,000 discount. Boston, par. San Francisco,
70c. per $1,000 premium. Savannah, buying, $1 50 per
$1,000 discount; selling, par. Montreal, 3134c. per $1,000
discount.




STOCKS.
Week ending Oct. 29.

Sales
for
Week.

Range fo r Week.
Lowest.

Colorado Fuel A- I. pref.
100 110
100 9
Des Moines A Ft Dodge.
100 88
E I du Pont Powder, pref
200 92
General C h em ical...........
10 105
Preferred
________
151 88
Ilomestake Mining_____
300 7
Keokuk & Des Moines . .
Laclede Gas (St L ouis). . 1,100 104%
Manhattan Beach______
100 3
Rubber Goods Mfg, pref.
150 105
St. Jos. A Grand I., lstpf
100 52
St Jos A Grand 1. 2d pf
100 29%
Sears, Roebuck & Co, pf
600 120%
United Cigar Mfrs, pref.
100 108%
115
Vulcan Det Inning........... 4,105 2831
P referred..................... 1,750 73%

Oct
Oct
Oct
Oct
Oct
Oct
O ct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct,
Oct
Oct

Range since Jan. 1.

Highest.
27 110
25 9
27 88
27 93
27 105
25 88
29 7%
25 104%
25 3
25 109
29 52
23 29%
25 120%
23 108%
2.^ 11(>5 s
23 33
28 83

Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct

Lowest.

II Ighest.

Mch 110
27 07
9
25
Oct 10%
2/ 88
Oct 88
Jan 95
20 01
27 98% Jan 108
Jan 94%
25 87
Mch 10
29
5
29 104
June 105
25
2% Jan 5%
20 105
Oct 109
29 49% Mch 53%
23 29
Mch 30
25 101
Jan 121
23 99
Jan lit)

Oct 29
Oct 29

0
45

Feb 33'
Jan 83

Oct
Jan
Oct
Aug
Aug
Apr
Aug
Juno
June
Oct
May
Jan
Oct
May
Oct
Oct

Outside Market.— The outside market for the most part
of the week, except for an active speculation in low-priced
mining shares, was dull and weak. Towards the close, how­
ever, the market generally took a turn for the better, the
copper shares assuming prominence in point of activity and
strength. Butte Coalition fell from 2634 1° 26, but on news
of the resumption of dividends ran up to 2734, recording a
further advance to-day to 28. British Columbia sold up
from 6 to 734- Cumberland-Ely receded from 734 to 7 %
and rose to 734- Greene-Cananea advanced from 19% to
11% and closed to-day at 1034- La Rose sank from 634 to
5% , but recovered to 6 3-16. Miami, after fluctuating be­
tween 1534 and 15, moved up to 16%, finishing to-day at
163-8. Nevada Consolidated fell from 2434 to 23%, moving
up finally to 24 34. United Copper common was traded in
between 9 and 9% and ends the week at 934- Giroux was
traded in between 8% and 8 % and to-day up to 9% , the
close being at 934- Nipissing declined from 1134 to 10%
and recovered to 11%, with the final quotation to-day 1 1 3 4 Union Mines continued active, going down from 3 1-16 to
2 15-16, then up to 3 13-16. Industrials were quiet. Ameri­
can Tobacco lost about 7 points to 442 and recovered to
446 34- Sears, Roebuck & Co. common covered a wide
range; opening at 135, it fell to 132, then reached 143 34Standard Oil ranged between 703 and 699, with sales to-day
at 701 @702. Chicago Subway lost about 2 points to 6,
after which it moved up to 7% , closing to-day at 734- In
bonds N. Y . Telephone 434s, “ w. i.,” sold off from 96% to
9634 and at 96% finally. International Steam Pump 5s
“ w. i.,” declined from 96% to 96%. Western Pacific 5s
went down from 97 34 to 96% and advanced finally to 97%.
Outside quotations will be found on page 1134.

New York Stock Exchange— Stock Record, Daily, Weekly and Yearly
OC C UP Y IN G
—II l(i II a.ST A -v /; LOWEST

ST(H
Sat nrdag
Oct. 23.

Monday
Oct. 25.

Tuesday
Oct. 26.

sale*

ALE PRICER-

Wednesday
Oct. 27.

Thursday
Oct. 28.

Friday
Oct. 29.

TWO
01

PACKS

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

Wceic
1 Shares

R a ilroads
119-3, 1203, 1197, 1207, 119*4 1 2 U 2 1 2 U, 12134 1221 , 1235, 149,900
tch T o p e k a & SantaFe
104 104
104*4 104*4
3,313
10334 104
10312 104
104
D o p r e f____________
13
612
138
136
6,400
1361"
139*,
138
138
136l2
1371* 138
137f2
A tlan tic Coast Line R R . .
1147, 114 1147, 114iJ H51, 114*8 114*4 1151, 115", 1157, 1 16 I4 13,500 O a lt im o r e & O h io _____
931, 931, *93
941?
94
201 8 * D o p r e l____________
94U *93
94U *93
941* *93
761?
747,
707,
74
30,670
75*4
741
2
76*4
76*4
767,
liro o k ly n Rapid T r a n sit.
76U 77*1
1837, 18-H? 1847, 185',
8.70C /■Canadian P a c lfi-___
182D 183 1831, 18214 18414 1 S2 I2 184
30C ’ Canada S o u th e rn _______
691
681* 0812 *07-'g 6912 *675, 691? *077, 691? *67", 69*2
300
*290
300
*290
295
*290
300
IOC
295
300 *290 300
Central o f N ew J e rse y ___
861, 87*,
867,
87-', 883, 70.95C C hesapeake & O h i o . .
86I4 87',
855, 87
87l3 877,
68
68
O9I4 69
1,400 Chlcarro & A lton R R .
*661* 6912 0712 67 12 67
09*4
67
*
*
*
♦
74G
74
♦
74U
74*2
74
74*"
D o p r e f________________
183, 18-3.1 I 8I4 18D
183, IS*?
18*4 181?
181, 191,
5.50C C h ic G W es ctfs d ep 3 d pd
187,
__
*5912 63
*5912 60*2 *5912 601? *50* 2 62
61
*5912 64
D o 4 % dehen ctfs dep
3D
,
32
*30
34
§30
30
30
317,
30
33 C
3U 2 3U"
D o pref “ A " ctfs dep
233,
28
281?
233,
22*4 23
23
2.00C
23U 2312 23
D o pref “ R ” c t fs 3d p d .
1573, 1561, 15714 15512 1573, 15512 15673 15612 157*, 157*2 1581.1 C8.15C Chicago M llw & St P a u l.
1747, 1741, 175
173 174l-> 174 174*4 174 174
2.77C
17412 174*2
D o p r e f________________
1867, 183L 18034 187 187D 186 186 *186*2 190 *186 190
2.20C C h icago & N orth W estern
*212 225 *212 225 *212 225 *210 225 §225 225 *212 225
5
D o p r e f________________
*158 165 *155 165 *155 165 *155 165 *155 165 *155
165
Chic St P Minn & O m aha
*105 175 *170 180 *165 175 *165 175 *165 175 *105
175
Do p r e f_________
*41*
*41*
4
43,
534
51?
*-ll4
60C Chic Un T ra c ctfs stm pd
*4
51"
512
41-1 412
* 121 * 141* *12
*12
14
40C
1212 121 " ♦111 " 14
*12
15
15
D o pref ctfs s t m p d ___
757, 76-34 77
4,400 Clove Ctn Chic & St L ._
78
77*4 79
771, *76
76Li 7734
*77*4 78*2
*100 105 +100 110 *100 n o *100 n o *100 n o *100 n o
D o p r e f_______________
5134 51
52
61
52
*5U-> 521?
5H , 5U 2 *51
53*2 53i2 2,350 C olorado & S o u th e rn ____
*78
79
79
30C
*78
*78
78
79
D o 1st p re fe rre d .
78
79
78*2 787, *78
78
1
,
1
1
C
78
78
78
79
78
78
78
78
D o 2d p re fe rre d _______
*77
*77*4 781,4
182 183
3,610
182L 184
elaw are <& H u d s o n .,
18412 18412 18234 1837, 188*4 183-3, 1 83 14 1841"
1110
*550 560 *550 560
elaw are Lack & W e s t .
550 550 *550 570 *550 570 *550 570
48*4
45-34 461*
46-34 46
7,260 D enver & Rio G ra n d e___
46
4(3:>s 4534 40*3
40*4 471,
47*2
84*4 8412
83-34 84 14 83*4 83*4
1,465
8 H, 841, 837, 84
8-1
84l.i
D o p r e f_________
♦____
Kll D etroit U n ite d ____
6710
64
6814 *
64
*13
$14
14
*14
*1312 15
§1314 14
15
15
*13
16
105 D uluth So Shore & Atlan
*28
29
30
*271" 30
29
IOC
28U 28*4 *2712 291" *27
Do p r e f____________
*27
325, 33
323, 331,
3234 331,
3212 33
3234 33
33*4 33*1 16,400 l ^ r l e ................. .............
467jj 4712 4 63# 47
46
3.80C * J D o 1st p r e f_____
46*2
471, 47*4
4 6 ', 47
47*4 47',
383, 39
385, 391* *3812 40
40
38
38
*38*4 40
*39
1,100
D o 2d p r e f_____
14334 14634 144U 146
M234 1451" 1421" 114
1421, 114-3, 143*4 145*, 65.35C G reat N orthern p r e f ..
791, 80
79-3,
78
78
8014 HD, 17.00C
7912 79*2 80*2
793.1 78
Iron O re p ro p e rtie s___
*14
____ *14
+ 14
*14
15
*14
15
*14
15
Green Hay & W , d eb c tf B
793, 793, *79
7933 793, *76
78
7914
78
600 J-I'avana E le c tr ic .
*
* __
897,
8912
’ *
D o p r e f_____
*108 116 *108 110 *108 116 *108 112 *108 112 *108 112
H ock V al J P & M Co rets
*
91
*82
90 i«
8912 * ___ 90
90
H ock ing V a lle y p r e f____
146 148
1451.1 147
145', 1471, 146 140
6,450 I llinols C en tral_________
147*4 147*2 148 148D
167, 1734
173, 173t
IS
181"
18
20 *, 19*s 20 ' ,
19*, 20 226,420 * n te r b o r o -M e tr o p o llta n .
487, 4934 49
48i4 493,
5034 40
51
501, 516,
501, 507, 74.27C
D o p r e f________
+291* 30
*29
30
28
28
1,081 Iow a C en tral_______
29
29
27-*4 28*4 ♦28*2 29
52
62
+51
*51
50
.51
51
51
D o p r e f_________
5012 6034 51*2 52
UlC
8OI4 8OI4 *797, 81
*797, 81
81
*797, 81
*80
81
*80
IOC
C Ft S & M tr cfs, pref
427, 43*4
3,400
43-'S 44
43
43
44
433, 433,
43 hi
43*4 44
ansas C ity Southern
703,
70
70
*70
*70
65C
D o p r e f_________
70
70
71*4
70
70
71
70
+21
*21
25
*20
25
*20
25
25
25
*20
25
I akc Erie & W e s t e r n ..
*20
*50
*52
*52
55
*52
58
58
58
56
57
365 I ‘
D o p r e f_______
56
58*2
+65
68
68
*65
08
65
*64
*65
68
68
66
700 Lon g Is la n d _______________
*65
150 151
I 6OI4 1507, 1307, l.r)234 151 1511? 1513, 152
9,500 L ou isville & N a sh ville___
152*2 155
*141
112 * 1 -U12 142 § 14012 14()12 + 1401" 142
142 142
142 143
1,125
anh atta n E le v a te d ___
*20
25
*20
*20
*20
25
25
24
24
*20
24
24
200
e tropolltan S treet . .
5412 541o
53 '2 53-3.1 5312 53! 2 *5212 5312 54
54l 2 54
54*4
1,300 M inneapolis & St L o u is .
*84
*S 4
88
8-1
84
*84
*84
88
87
88
*84
90
200
Do p r e f______________
+ 1371* 139 *137 139
13514 1371-1 135 1357, 136*1 137
136*2 138*2
3,875 Minn St P & S S M a r ie ..
♦ 154 157 *154 156
153 1541, 150L 15112 1507, 153*2 154 154
1,420
D o nret.......... ........
*901, 91
90U 9U14 90
90
4 10
§S912 891" *891" 90-3.1 *90
91
D o leas d line c t fs ___
4578 ■UI4 4534 473,
4514 4 6',
4578 4 0 ',
481"
48
41 "1 85,400 Mo K ansas & T exas
471-1
7434 75
747, 74 1,
*73
76
741,
74
741, 74*4
2,400
74*2 74*2
D o p r e f__________
68-34 68
68
09*8
68*, 68*4 687,
67?, 683.,
67
69*s 097, 11,250 Missouri P a c i f ic _________
*132 140 + 132 135 *132 138 *132 138 *132 138 *132 138
ash C h att & St L o u is ,
*56
5814 *56
68
*56
68
58
*56
58
*55
57
+56
a t Rys o f M ex 1st pref
*2214 223, * 2214 23
2212 221 ? +22 L 23
2212 22-3, 225, 23
1,300
Do 2 d p r e l____________
132 13334 13234 1337, 1323, 133*4 132 13312 1331.1 1341-. 134*, 1351? 45,745 N Y Central & H udson
5712 571*
58
.57
57
*1*5012 58*2
57 14 571.1 §58
53
58
000 N Y Chic & St L o u is ____
* 10-1 118 *104 118 *104 118 *104 118 *101
118 *104 118
D o 1st p re f______
*88
89
*87
89
*87
89
80
89
89
*88
89
8912
250
D o 2d p r e f______
1661* 167
169 169
169 169 *166 1691" 162 169
16H" 103*2
3,900 N Y N H & H a rtfo rd ____
461, 461,
46>4 4010 46!-> 461"
4612 4 0 ',
4 0 ', 471,|
5,300 N Y O ntario & W estern .
40', 47
941* 95
94
941,
9412 94*4
95
047, 9 514
5,925 N orfolk & W e ste rn ____
9514
!)51.i 951"
*89
91
*88
91
*89
92
92
91
*89
*S9
D o a d ju stm e n t p r e f ..
145M 1481, 1447, 1461-. 14434 1471, 145 1467, 145*2 147
06,672 N orthern P a cific________
147*4 149
♦104 109 *102 110
*102 n o *102 n o *102 111 )
107 107
100 >acfflc Coast C o _______
+102 110 *102 110 *102 111 ) *102 n o *102 n o *102 n o
•
D o 1st p r e f________
+ 104 115 *102
no
*102 n o *102 n o *102 n o *103 109
D o 2d p r e f________
14434 1461, 1447, MOI4 1461, 1473.1 146*2 148*4 1477, 148*4 148*, 149L 199.760 P e n n s y lv a n ia ____________
94
9412 04*4 U4*4
9412 91*4 045g
9414 9414 *9414 95
1,510 P lttsb Cln Chic & St L . .
115
. . . . ____ * __ _ 115 i<
115
+90 115
*94 115
Do p r e f________________
158 1601.) 158-', 1607, 1581o I 6 U.1 1-587, 1611, 160 1615, 1621, 1631" 530,000 lY eadln g_________________
92
92
94
*91
*90
94
*91
9-1
91
*91
*90
94
200 I v
1 st p r e f_____________
98
97
*97
97
*97
98
*97
98
98
98
*90 100
2 d p r e l_____________
500
3734 391,
3738 377,
375s 38-34
37D 381?
385,
38
3S*4
OS,700 R ock Island C o m p a n y ___
77-3g 78
7 7 ', 78*4
77
78
77*., 781?
78
78*4
78*o
79*4 20,400
D o p r e f________________
72
*69
*69
7 0 ', *69
7U , *69
71
71
71
*09
100 O t L & San Fr, 1st p r e f.
71
561, 50
56
56
56<,
66 t.| 9 55
57
50*4 57
58*4
57
3,500 c '
Do 2d p r e f___________
28l2 28.,
29
29
2914 2812 20
29
291,
29
29
293,
1.500 St L ou is S o u th w e s te r n ..
66U 6612 *66
67
67
67'* 677,
0012 67
67*1
677, 077«
1,200
D o p r e f________________
1261- 127", 120 's 1277, 1263, 1281, 126*, 128
127*2 12812 128*, 1301. 140,560 Southern P a cific C o ..........
29U 301.1 293i 303,
29", 3012 29*4 8OI4 30
30
303, 30*4 1 ) ,620 Southern v tr efr s tm p d .
683., 09
087, 69
69
69
687g 09
09*4
09
6 9 ', 697,
1,800
Do pref
do
353,
35
3.5*,
35
351*
35
351»
35*2 35'x
36
8,635
’ exas & P a cific ________
19",
lll-'i
201
"
191, 20
lf)f
4
19*4 20-3,
19-*4 19*4 7,700
19>8 201,
bird A ven u e (N Y ) ___
*8
*8*4
*83.1
9*4
10
9*4
912 *81" 10
8*8 8-3, ♦ 8
100 Toledo R ailw ays & Light
621, 521*
5210 52-3, 52I2 527, 523, 527, 521? 631" 53
537,
5,800 Toledo St L & W e s t e r n ..
697, VO',
6934 603,
7014 703, 69-34 697,
697, 71
69*4 697,
4 ,000
Do p r e f________________
107 107 §1063.| 1063i 10712 10712 107 107 *106*4 108 *107 108
460 Twin C ity R apid 'Transit
197 2001i 198 200
197', 2007, 197->, 200h> 198*, 200*4 2001" 202*4 551,000
nion P a c ific ___________
1021, 1027, 1021, 103
103
10212 1031.1 102 ' , 108
103
103 “ 103*4
8,020
D o p r e l____________
+41
*40U 4112 40
42
44
42
41
41
*41
40D
42
1 ,200 Unit Rys I n v ’ t o f San Kr
08
701*
09
70
70Ti 717,
681.1 70
08
70
71*1 72*4
4,350
Do p r e f________________
1912 201.,
197, 20
201, 20*4 5,000 I ’1 / a b a s h ________________
19*2 20
iota 20
1912 20
5118 621*
5U 2 5212 50
51*4 62*2 52,010 * '
521"
40*4 5U?
51*4 52
D o p - e f ...................
21
21
21
21
21
21
21
*21
215,
211 " 21
2 U,
2,050 W est Md re cts 2d p a i d . .
♦8
9
9
9
87,
*8
9
9
*8
9
*8
1,800 W heeling & Lake E rie___
95,
♦ 10
19
*16
10
161, 161,
181" 18*4 2,150
16
171" 18
Do 1st p re f____________
16*2
♦9
1012 *912 11
912
91"
10
*9
10
*9
924
O', lt)l 4
D o 2d p r e l____________ _
60
50
497, 497,
60
5012
50
49*., 497,
471, 50
50
3,100 W ls c o n s n C en tral_______
____ *891?
_ _ *90
♦89*2 . . . . *90
*891"
+891"
1191,
10 11 ,
137T?
114U
*93
76D
1811*
*0S12
♦290
85*4
06*4
* ____
183.1
*59 >2
*30
2312
156
1741.1
1867,

120

A

10 -Hs 104

D

K

M

N

i

I

Range lor Precious
Year (1908).
Highest

Highest
2
5
3
gO ct
9V& Jan 13 1
lOOU Jan 20 10634 J ’ ne2
107<2 Jan 14 14312 A u g 12
J ’ly 29
1031* Feb 23
9
6 A p r 12
92 F eb 4
3
2
7
, J ’ne 7
67 Jan 9
1166 Meh 3 189ig O ct
6
9
-T
j Aug21
(>0'4 Jan 11
215 F eb 23 323l2 Sep 18
90 O ct 8
55-ia Jan 6
743, A pr
6778 F eb 24
7S12 Meh
71 F eb 24
1
9
>
4O ct 21
M A u g 20

12214

A u g 16 *3534 Aug30
■-3 s, O ct 22
A u g 23
F e b 23 1651s Sep 18
M eh. . 1S1 A u g 16
l/3>8 Feb 24 19812 A u g IS
/ 208 Meh la 5230 A u g 7
148 A p r 22 167 A u g 13
1661 j Jan 30 §180 J ’ly 27
7 Jan 4
4 J ’ly n
J ’ly 12
18'4 Jan 27
Jan 29
79i2 F eb in
Jan . 105 Meh 22
51 O ct 23
68>4 Jan
86
7612 ,)an
M ay 1
841; Jan 7
73U Jan _
10734 F eb 24 200 May 14
536 Feb
G80 A p r 22
54 A p r 20
3 7 ', Jan
90 F e b 10
79G Jan .
713, A u g 13
56 -fan 30
14f2 O ct
21 Jan 16
36l2 Jan 15
28 F eb 23
39 J ’ ne 7
2 2 ', Meh It
6634 A u g 9
30l2 Meh l .
46 A u g 2
2812 Meh It
1363, F eb 24 1577, A u g 12
8812 \ u g l65 lg MCll 12
17 Jan 4
14 Feb 26
z7u*s O ct 2:
39 F eb
90 Sep H
83>s F eb
97 M ay 3 126 A u g 14
94l 2 J ’ ne 11
88 A pr 'h
1621, A u g 12
13/ F eb 2.
20 a, O ct 28
11-', Meh 2;,
623, J ’ n e 28
36*4 Meh 23
27 Feb 24
36 A p r 15
62 A p r 16
48 Sep
82 Sep 14
7434 Feb _
6OI4 A u g 18
37 Feb 23
7512 A u g 18
677a Feb 2»
19i2 F eb 26
291* A ug 2
647, J ’n e l 4
48
an 23
59 Jan .
7H , M ay24
il2 1 Jan 29 1621s A u g 12
UOI4 A u g 20 153'2 Jan 4
18 J ’ly 2
4 2 'J a n 5
61 Sep 16
65 Jan 8
81
Meh 10
90 Jan 8
132f2 Jan 2 l4 9 fjJ a n s
147 A p r 13 1 H412 A u g 9
89 J ’ly 22
92 Sep 17
35i2 Feb 23
50l2 O ct 18
71 Feb 23
78'4 O ct 18
66 Feb 24
7712 A u g 6
122f2 Jan 5 13912 A u g 12
44l2 A pr 5 61 Sep 16
2212 A u g 16 26-', M ay22
12012 Feb 24 14784 A u g 18
4812 Meh 15
69 J ’ne 7
100 Feb 20 100 Feb 20
7014 A p r 6 89 O c t 2/
157ia F eb 24 1743j .j iie l4
4214 Feb 24
555, J ’ne 12
6414 Jan 6 97 O ct 16
92‘ 2 J ’ly 28
Sals -Meh26
1.3314 Feb 24 15912 A ug 12
76 Meh 3 I I H 4 O ct 7
100 Meh 30 §106 Sep 28
S8 Meh 27 111 O ct 7
I26ig Feb 33 I 6U4 Sep 29
86i2 Jan 5
96I2 O ct .
104 Feb 10 1161.1 Sep 21
113 Feb 23 173*s Sep 21
96 A u g 23
89 M ch 22
90 Feb 1 1043., M avl3
423, A u g 12
20/g Feb 24
803, A u g 16
5 7 ', Feb 21
73 J ’ly 1 .
6514 M eh29
36 Feb 23
603.1 Sep 16
313, Sep 29
20i2 Feb 25
71i2 J ’ ne 2
47i2 Ja:i 6
1145, Feb 24 1391,' A u g 1
34 A u g 11
22 F eb 24
60 Jan 5 75 A u g 12
30 Feb 24
4012 A u g 23
16 J ’ly 2
42*2 Jail 18
15-3, Jail 2
7 M ayl2
43 Feb 2 t
547, O ct 19
643j Feb 24
74>4Jau 4
97 Jan 2 11 1*2 O ct 1
172G F eb 24 219 A ug 16
rU4 At eh I 118*2 A u g 1
30 Feb 2c
37 Sep 13
60 '4 F eb 2t
77 Sep 14
243, j ’ne 15
16 F eb 2 ,
41 F eb 23
21 O ct 9
23'., O ct 1
6 J 'ly 13
127, Jail 4
1514 J ’ly 13
267, .Jan ;■
6l2 J ’ly 13
151, Jan 8
357s Jan 6
6 3 ', A p r 2ii
27
ft 13*4
141
1581;

12
18
100

6134 J’nui.j

H’l Feb
83*, Feb
5«1-. Meh
76*2 Feb
80 Jan
37 >4l Feb
140 Feb
54 Meh
160 F eb
2512 Feb
19 l e b
47 Meh
31, Feb
33*? Men
15l2 Feb
5 Feb
103l2 Jan
138 Jan
135i2 Jan
*185 Jan
114 F eb
140i2 Jan
3, A I) 1
4 A pr
47l2 J ’ne
85i, Feb
21 Feb
603s Jan
3984 F eb
14U2 Feb
420 Jan
14M Feb
MJI4 Meh
32G A pr
6 " Feb
1134 Feb
12 Mel
243, Mel
16 Meh
11334 Feb
48U Jan
8 Jan
20 Meh
§70 Jan
t;2 F eb
69 Meh
122i2 Feb
63, Jan
171* Feb
10 Feb
27i2 Feb
67 Aug
18 F eb
F eb
Jan
Mav
Feb
87 '4 Feb
120 Jan
15 F eb
20 Meh
61 Feb
79U Jan
1231* Feb
l / i 2 M e6
46 F eb
28l2 Feb
9784 J an
UOi, Jan
24i2 Jan
90 Jan
60 Feb
1283, Jan
291, Feb
58 Feb
74 Meh
1167, Jan
65 Sep
90 Max
79 Meh
1083j Jan
69 Jan
81i, Meh
92i, Feb
78 Jan
76 Jan
10!2 Feb
2034 Feb
42 J’ne
19U Feb
10 Mel
24I2 Feb
06>4 Feb
9>, Jan
251" '.fell
1234 Feb
15'2 Mob
0 '*2 O ct
12 Feb
33 Feb
78*4 Feb
UUI2 Meh
/9U A pr
15 Jan
27i2 Jan
634 Meh
13 .Meh

4i2 -iei

12i, A pr
. Feb
131? Feb

10l>4 D eo
104 Deo
H U * Deo
117, D eo
9-: D eo
6 934 D eo
ISO's N ov
68 N o v
229 D ec
693, D eo
687, D eo
79 D eo
143, N ov
O8I4 A u g
/3 D eo
171, N o v
152!2 D eo
16 4*5 D eo
1851* D eo
224 D eo
160 D eo
174 D eo
71, D eo
18 D eo
70i2 D ec
••97, D ec
59 D ec
79 D eo
76 D eo
i 813,; D eo
f 76 N o v
4ou Deo
8314 D e o 66 N o v
18-*, N ov3334 N ov
36 N o r
513, D eo
41 D e o
M 5 I4 Deer
761, N o v
17!2 D ec
4ft D e o
24 D e o .
lOH2D ea 1
93 D eo
14934 N O V

20 D ec
4912 D eo
32i2 D ec
67 D eo
75i2 D eo
423, D eo
72i, D eo
26 D eo
68 D eo
563, D eo
1253, Deo
151-34 D ec
44l 2 D ec
66<2 D eo
9U D eo
135 N o v
-61i2 D eo

431?
7512
67'2
122

D ec
D ec
D ec
N ov

126 D ec
57f2 D ec
106 N ov
85 D ec
161 N ov
477, D ec
86I4 N ov
88 D ec
15734 N ov
J3>2 Jan
90 M ay
97 Jan
132U D ec
88i 2 D ec
IO834 N ov
143U Deo
«2 D ec
99 D eo
2514 D ec
623, D ec
6J D ec
421. Deo
24 D ec
55-s D ec
12212 D ec
27U D ec
631« D eo
37 14 D ec
47 A u g
15i2 D eo
50 D ec
7JI2 Deo
963, D eo
184'g N ov
98 N ov
40 D ec
C9l2 D eo
265, D eo
52*4 D eo
13 u e c
V614 D ec
151- N ov
38U D eo

Banks

New Y ort
A etn a - - - - - 175
A m erica fl
1 10
Am a Exch
Bat to y Pk
B o w e iy V - - •J7i*
B ron x Bon d
D rvant P k 1 156
B u tch & Dr 140
C en tu ry 11-. 17
C h a s e ____
3. )
C h af hum
03 »

ASA

>>nn a <
)h iseaE x *
Ihem lcal .
85
citiz e n s ’ Cl
5So
Mty..............
’oal iic Iron
- - - - Colonial 11.
lulu m bla 11.
--- -j* om m erce
t o p p e r ____
1
orn Lx Ti->76
East River
400
•''delltv If.
F 'ffh AVI*
.150

AS a

-- - 410

4171150
____
425
119.7,
____
335
135
175
-T U ua
u
u llD
IH
Up
.lo
v
O1
ID
H
O
loIll.lU
o on tins
t Sale at Stock E xcliango or a t a u ction this week.




i ti 1 s T

> ;. j

1U \ 8

7^
7.

\ >
/II7/
200
•130
110
41212
140
31)0
3 /,i
t l.9
300
330
125
165
4250

l

.N
tna

J-

\
\

U

Range since Jan. 1 1909.
On basis ot 100-share lots

+>anKS
tnu
Md
/ISa
Banks
FUth .......... 300
350
180
Jellcrson H
First ---------- 825
85 1 L ib e r ty ------ 555
14th StH - . 165
L i n c o l n ___ 420
F o u r t h ____ 235
34.)
245
G allatin . . 330
346
vlark’ t& F ul 258
G a r fie ld ___ 200
300
.le ch a n lcs’ . 1255
Jerm A m T 140
Mereantll-- . T185
G crm ’ n Exl 450
Mercb Exch 16.)
G erm ania 1] 650
d e rch a n ts’ . 168
Greenwich 1i 205
280
I c tr o p o ll, 1 400
la n o v e r . . Oil)
18/U
675
le tr o o o P n l
Im p * l rad 5o0
560
•It M orrh li.
1 r\ imr N Ex 200
210
'9J
tuf.uni 1’
day.
. I'.x-rigJC*
i h.oss tna.i 100 snares,
It First Installm ent paid,
n Sold a t p rivate

IS '
AS'
190

Q U O i’ A l ’ lO N S
Bank.

Yew N eth’ d
435
Yew Y orkC o
350
Yew Y ork ,
263
Y ’ ht * D av1
19th W a r d Yorthern - .
P acific 11___
17212 P a r k .............
420
P e o p le ’s 1 !-.
195
P l i e h lx ____
275
310

Li VI

216
200
760
327! j
105
230
45)
280
180
01J

ASK

220
3371?
230
470
115
240
465
295
186

B anks

hUL
170
125
356
400
136
300
100
190
70
500
600

As':
175
130

200 "

II State oan k s.
1 Ex l v •*nd and rignts. o N ew s t o e g ,
sale at this price.
z 2 d p a id .

'idles o'

STOCKS— IHC1IEST AM D LOW EST SALE PRICES
Saturday
Oct. 23.

Monday
Oct. 25.

Tuesday
Oct. 26.

Wednesday
Oct. 27.

Thursday
Oct. 28

Friday
Oct. 29

Week
Shares

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

Range since Jen. 1 19JJ
O', casts oj 10 .1- 3*w s lot:

1*566

R

U

j A .n t\i5 AiND T R U S T
Ask

Lila

l»r*nrf s
Banks
B rooklyn
B rooklyn
90
105
N orth SldeD 150
B orou g h 1,.
<25
Feople’ c - . . . 155
B ro a d w a y 1 375
145
B rook lyn
B rosp’ctP kli 150
term inal 11First ............. 285
139
J.llO lill____ 100
ilU l3 td e \ .._ 110
125
H o m e B k li . 110
125
Trust C o’ s
H o m e s te a d ! 100
.V Y City
430
41)
M an u fac’rs
2?0
Astor _____ 325
M ech a n ics’ ’, 240
Bankers' Tr 6560
:s5
M ontauif B 'w a y T r . . laO
1,
240
N assail —
305
95
fja t C it y .
Bid a n a tu ico d p n ccs : a* sa.os on t a is d a y.
i Sale a : S to ck E xch ange or at au rtlo n this

__ __




__

__

As!:

....
_

160
130
105

340
585
155

OO-vlFANlES— 3 A N K E R S ’
Ask

> lassa jn a n iuu so s r e s . 5
week,
s T ru st c o . certificates,

164 Jan §200 A u g
6 ALT
103s D eo
5234 D eo
H
M r’
88% N o v
45% Feb
35 N o v
13 Jan
S6 N o v
78% Jan
247* A pr
9% Feb
8 1 % D eo
65 Jan
10% N o v
4 Feb
7s73 N o v
44 Jan
6034 D eo
25% Feb
109 D eo
84% Mch
4434 N o v
2434 Feb
97 N o v
§80 Jan
! 170 Feb 5224 M ay
8% D eo
234 Feb
3734 D eo
12% Mch
3l7S A u g
121? Feb
17% D eo
0 Meh
36% D eo
17 Me!
59% A u g
3138 Feb
1 13 D eo
86% Jan
8% Sep
1- JJfh
5 % Sep
21 Jan
84% A u g
70 Jan
107 A u g
551? Feb
110% A u g
87% F eb
180 A ur 200 A p r
97% Sep
80 Mcl
41 N o v
28 Sep
13734 A u e
98-% Jan
131 N o v
105 Fob
132*8 N o v
101 Jan
97% J ’ ly
72% Jan
32% D ec
15% Feb
97 N o v
78% Feb
53% N o v ;
$27% F eb
J2% Jan
12 Jan
36 A p r
*85 F e b
8 Jan
§10 Feb
16% Feb
75% Jan
15% Feb
14% Mch
20o Mch
96 Jan.
1034 Fell
56 Jan
47% Oct
27% Feb
72% N ov
69 F eb
65 J ’ly
73% Feb
i l l Jan
78% Jan
62 J ’ne
99 J ’ne
6 O ct
16 Feb
8 Apr
47 Oct
13 Jan
65 Jan
62 Feb
69*8 Feb
68 Jan
102 Jan
71? Feb
.10 Feb
86 F eb
87% Jan
60 Jan
42% Alcli
24 A pr

$5
27%
57
152%
17

Moh
N ov
NOV
N ov
N ov
Jaa
D eo
D eo
D ec
27%. D eo ;
44c A p r
167 D eo
20% AUg
80 A u g
4S% O ct
>834 D eo
94 A u g
89 N o v
63% J'tio
100 J 'ly
102% D eo
109% J ’ly
67% N o v
110% N o v
u Alay
267s D eo
13% N o v
65 Jan
397g D oo
84% D eo
78 N ov
7134 N ov
97 D eo
)?()% D eo
16% D eo
*82% D eo
92 A u g
106% N ov
98 iN'ov
7S N o v
40% D eo

so Jan
8% MCI.
36% Feb
)7% Feb
69 Jan
l?7 Jan
% Apr
1% Jan
23-% Feb
75 Jan
14% Feb
63 J'ne
36 Jan
87% Jan
$25% Feb
45 Feb
4 Feb
<47g Jan

06l? D eo
D eo
60 D eo
-15 D eo
102% D eo
174 N o v
1* 1 D eo
31 ? D eo
40% D oo
|0.i D ec
29 NOV
89>? N ov
bl% N o v
116 % D eo
652% N ov
84% D eo
N ov
66% N ov

*17% Feb*
' 1 % Jnti
/0 Feb
38% Feb
4 Feb
16 Feb
17% F eb
76 F eb
42 F eb
2534 Jan
87% Jan
?20 Jan
16 F eb
*87 Jan
43 Jan
>250 F e b
41 F eb
08 Ale!

30% lie o
78% A ug
00 J an
64 N ov
15% A u g
3 1 Aug
37% Aug
108 D eo
75% N ov
58% N ov
114% N ov
$52% N ov
4534 D ec
115 N ov
68 N'OV
S25 N o v
713j N ov
94 N ov
125 N ov

68

q U O i ’AiTOWS.
11 lu
ASk
ilUO 1125
_
_
_
_
_
0 ,0
.. -O'-’O
560
530
345
365
1250 1300
440
430
1230
26 J
235
410
3/5
i30
140
133

I rust Co s
Brooklyn
iruOklyn 1. 410
d o z e n s ’ - - 133
Flntbush . . 200
360
21J
Eranklln
235
H am ilton . . 260
170
111
I
o
n
i
c
-------3>J0
iCnRS C o . . 5 0
710
Isl L & li 310
560
N assa u ____ 15)
535
I’ c o p le ’ s .... 290
....
Queens C o .. 120
135
W lllia m sb’g
80
rs per
. . . ............ o t N - 1 - n ’o
Banks m ar tod w ith a p a r a r ap-t Hi' nr- ^ t-.t- i> -n? .

Iru sf Co’ s
Guar ty T r .
G uardian Tr
1050*" H u d s o n ___
300
K n lck erb’ kr
145
Law T I &Tr
145
Lincoln T r .
310
M an h a ttan 480
M ercantile
19,0
M etrop ol’ tn
206
M orton 'l'r .
416
M u tu a l____
Mut AU’ n c—

Uta
680
16)
175
340
225
165
370
715
530
520
130
120

Ask
700

Highest

Plghe-it

Indus triavft/VUscellnneoiiE
*232
>232
190 .Tan 29 §225 A u g 20
*232
*232
A dam s E x p re ss-----------*232
*232
]67g A ug 3
1434 15%
1234 Feb 21
5,650 M -llls-C h a lm e rs_________
14% 14%
141g 14%
14
14U 14%
14
*14
14%
5134 52%
38 F e b 21
3,000
67% A u g ;i
D o prer____________
60% 50% *50
52
507g 507»
50
50
60
49
89% A u g 12
65 F e b 26
84% 87% 342,930 A m algam ated C o p p e r ___
803g 812
801g 82
80U 82% a:8134 84%
7912 80%
60 A u g l
46*1
500 Am er A gricultural C h cm .
4634 46% *46
*4434 46
S3% Jan
*45
46
453g 453*
45*4 46
100
94% Jan 18 103 A ug
*101 102
D o pret________________
102 102 *100 102 *100 102 *100 10134 *100 102
463g 473g 7,100 Am erican B eet S u g ar____
49% A u g 2
20% Jan 13
45
46% 47
46
45I4 463g 4514 461.;
46
45
93 O ct 4
82 J
97%
D o p re t________________
97% *95
97% *95
*96
98
*95
08
*95
*95
98
14% M aySl
12
1 2 % 4,275 Am erican C an____________
7% F e b 23
1 1 % 1134 117* 12
117g 12
1U 2 12
113S 12
86 .i'ne 4
82 lg 82%
823g
82
5,500
71% F e b 23
D o p re t________________
8 H4 813.| 8012 8 U4 8 U 2 81L. 8 H2 827
72% O ct 29
72% 26.600 Am erican Car ft F ou n dry
71
44% F e b 24
69% 71%..
6933 69%
68% 69!
68
683g 6912
69%
725
D o p re t________________ 107% Feb 23 124% A u g 3
11712 1171? 118% 118% 119 119
*11714 119 §11714 11714 *11714 118
787s <ict 18
78% 13,200 Am erican C o tto n OU____
77
42% Jan 5
77
77%
75% 76
7512 76l2
5% 76 I4 751* 76%
107 O ct 18
D o p r e t ........... ................
98 Jan
145
*104 108 *105 108 §106 10712 10612 106% *106 108 *106 108
Am erican E x p re ss_______ §205 F e b 5 255 O ct 20
*225 250 *225 250 *225 250 *225 250 *230 250 *225 250
10 S ep 3
734 *7%
*8
6% F eb 25
8%
923 A m erican H ide * Leather
8
*7%
712
8
.
8I4 8I4
8I4 8I4
617g A u g 3
403g 42%
4434
40% 41%
34 F eb 21
43% 45% 11,355
42
D o pret
4434 46
46
46U
42% A p r 13
2434 26
187g Jar.
*24% 25
25
25
1,610 Am erican Ice S e c u r lt ie s ..
26
5253.4 26
26
2612 25
20 J ’ ne 14
V2 F e b 25
*15*4 I 6I4 *15% 16
15% 16%
15% 15-% 3,400 Am erlcan L i n s e e d _______
15Sg 16
I57g 157g
47% J ’ne 14
38*4 397g
3934 41 ^ 39% 40
29 Jan 12
2,410
39lg 4014
D o p re t________________
4012 40%
*4012 4U 2
69% A u g 4
49 Feb 23
58%
59
59%
59% 6034 8,710 A m erican L o c o m o t iv e —
57% 58%
58
57
57U 5814 58
115 115
116 116
600
D o pret________________ 10914 F e b 24 122 A u g 4
*115 116 *115 116U 115 115U *115 116
11% J ’m: 1
5% J 'ly 16
8
*6
7
308 A m erican Malt C c r p ____
7
§7
7
8
7%
7%
*7*2
8
*712
59 Sep 20
-.2 Jaa I
49% 49%
49*g 49%
1,700
49
49
49% 49%
D o pret___
_________
4812 49
49*2. 50
923g A u g 27
80 Jan 4
90%
90% 90%
901 *90
91
300 A m er Sm elters Cec rre f B
91
9014 9014 *90
*90% 91
77% F eb 24 1047g A u g 12
97% 98%. 86 ,200 Am er S m eltln gft Refining
95% 97%
9334 95%
94U 0512 937g 95%_
9312 95
116 % A u g 6
n
1105g l l l l g l l l l g 1 1 1 %) IIOI4 110 % 1 10 % 1 1 1
D o p re t________________ 101
1 1 1 .% 1 1 1 .% 1,848
*111 112
225 M ch 9 280 A u g 5
A m erican S n u ff__________
♦250 300 *250 300 *250 300 *250 300 *250 300 *250 300
106 AtayW
96
M
ch
1
200
D o p r e t________________
100 % 100% 101 101 *100 102
♦10012 10 H 2 *100t2 10H 2 * 100 % 101
64% O ct 29
34% F eb 21
9,318 Am er Steel F ou nd (n e w ).
60% 617t
61% 641
60% 60%
60
6012 603g 603,
60
60
j30% Sep 24
121
J
’
ne
t7
132%
133'g
22,400
Am
erican
Sugar
Refining
1303g
1303
4
132%
133»!"
130%
133
129%
1303
4
129lg 12912
j3
i Apr s
120
J
'n
elG
428
Do p r e t-------- --------------126 127 *120 129 *126 128
126 126 *125 127 *125 127
145% S ep 29
1397g 140U 13934 140% 13914 140U 139% 140% 110% 14034 1403.1 1411? 22.700 A m erican T eleph ft Teleg 125 F e b 1 104 May.70
00%
F
e
b
0
Am
erican
T
o
b
a
c
(n
e
w
).p
f
997s
100
805
*997g
100
100
100
997*
997g
100 100
*997g 100
26 F e b 1 40% A u g 27
3,200 A m erican W o o le n -----------35
35%
347g 35%
3434 35%
34
35
333g 3534
357g 36lg
93% Jan <: 107^4 J ’ne 14
102”g 1027s
1,000
D o p r e t-----------------------10212 10212 IO2 I4 10212 10212 10212 1023* 102 % *1021? 103
S3734
Feb 26 $52 M ay 8
iA
n
a
co
n
a
a
C
o
p
p
e
r
P
a
r
i
25
23,100
46%
4735J
453.J
46%
481.1
493,
4534 46[4
45I4 46
451g 4512
ssoc M erch 1st pret------- 105 A p r 2 114 .I'ne 26
* 1 0 7 % ____
*10712 ____ *10712 ____ *1 0 7 * 2 ____ * 1 0 7 % ____
101% F e b 17 104% F eb 19
D o 2d p r e t_____________
$61? J'n e 3 0
$2% Jan 29
200 rfBatopllas M ining P a r t 20
*4
*3?g
4%
4
4U
4%
*4
41g
**3%
41g
4'g
30% Sep 21
1834 Moh 9
32% 33%
2,100 O e th le h e m S te e l-----------32
32%
321g 3234 331s 321J 32% 32%
3212 321?
69% Sep 3
47 F e b 24
65
*61
65
100 I > Do p r e t_____________
63 ^ *61
*61
65
63
*60
6712 *63
67*2
220 B rooklyn U nion G as____ 118 Jan 28 151% Sep 1
138 138 *138 142
142U 14214 *140 144 *142 145 *142 145
21% O ct 4
13 Jan 13
*17
1,000 Brunsw ick D o ck & C Im p
17%
17% 17341
17*4 1734
17*2 17*2
1712 18
34% oiylV
23% Jan 2
34
33%
650 B u tterick C o _____________
*31% 3378 *31
3312 3312 34
3234 33
32
32lg
51% O ct 7
4534
46%
46
251
2
M
ch
2
44%
45%
46
34,675
/
lentral
L
e
a
th
e
r-----------441g
_
443
44U 4512
4312 45
750 Y •' D o p r e t_____________
99% A p r 5 H i Sep 2
10834 10834 10834 108% 108% 108% *108% 109% 109% 1091?
109 109
4S3g A u g 3
29 F e b 23
45’ g 46% 23,450 C olorado Fuel ft I r o n ____
44% 443^ 45
445g 46'i
468
44
44l 2
43% 443s
21 % Feb 23 81 Sep 89
2,525 Col ft H ock Coal ft I r o n .
79% 80%
80% 8071
80% 80^
8OI4 801
80
80
78% 79
37c O ct 7
21c A p r 24
C o m sto ck T u n n e l. Par $2
31c. 31c:
32c.
32c.
1*8*300 C on solidated Gas (N Y ) . 114% F e b 4 1651.1?.'ill 4
138% 14*0
137' 140
140% 1411s 13912 14H2 I3834 140:
140l2 142
26 % J ’no 2
16%
F
eb
21
2
1
2
1
-%
Corn
P
ro
d
u
cts
R
e
fin
in
g
..
7,850
2034
20
%
20
%
20
%.
2012 21'
203g 21
21
213g
9 3 i? J 'n e 1
73% F eb 24
D o pret
1,000
85
85
*83% &43j
84% 84%
85
S314 8312 *83
83% 84ig
01 May25
46
Jan
5
Crcx
C
a
rn
et______________
*55
67
*55
61
*55
61
61
*55
61
*55
*55
61
41% Jan 26
32% F e b 23
36% 36% *2*400 D istillers' Securities Corp
36
36%
36% 36%
361g 36ig
3534 3 63g 36i2 36%
95% .May 11
66 M ch 2
*72
82
i 75
_
200 Federal M ining & S m e lt’g
7l7g 7 : * ____ 82
75
*____ 72
*
_____________
94 A u g 11
so
F
e
b
24
300
D
o
pret_____________
*85%
89
*85%
89
*85%
87
89
*85%
86
8512 8534 86
§45 M ch20 §61 J ’ly 12
Federal Sugar R ef o f N
95 A u g 3
<90 Jan 2,
D o p re t_________ . . .
150% F eb 23 172% A u g 12
General
E
le
ctric----------6,000
162%
1633g
1613
4
162
163%
163%
1603
4
I
6
H
2
15912 160>g
160 161
'40
Jo: 1 4
91
M
ch
12
G
ra
n
by
Cons
M
S
ft
P
—
1,200
99
100
*90 100
*95 100
*90 100
*94 100
*90 100
62 Jan 30 104 O ct 29
6,543 ! nt H arvester stk tr etts
99% 102% 102 104
98% 993g
983g 987g
98
98%
08
98
125% O ct 22
109%
Jan
16
*
Do
pref
stk
tr
c
t
fs
—
2,000
125%
125%
12334
124%
124%
125
124
124
12412 1241?
125 125
„ O ct 2
5% J 'ly u
300 In t Mer M arine stk tr ctfs
* 6%
7%
634
7
* 6%
7%
*63g
*67g
*612 7
634!
7
27% -a.. 2
18-% J ’ ly u
22 % 225g 1,500
D o p r e f__________
22
22 % 2234 22
22
221? *2134 23
22i2 221
19% Ja: 24
9%
Mch
13
Internation
al
Paper
3,445
16
16
153g
16
16
15%
1615
161a
16
I 6I4
16lg
16i2
0934 A u g 3
47% Mch IS
D o p re f________________
2,750
62Ijj
62
61% 62
Cl%
61
63
6Ug 6112 *61
6 H 2 62
51 O ct 29
331? F eb 26
11.200 In te rn e t S team P u m p —
49% 51
483;
48*g SO
48
48
48%
4612 4612 46”g 4S
91 Sep 20
82%
Jan
30
B83
4
D
o
p
r
e
f-----------------------687g
2,600
90
SS
8734
88
%
88
8
SI
4
8834
88
*87*2 88
94 Sep -9
70
Jun
21
M
ackay
C
om
panies
I,
900
91%
91
90% 90%
90% 90%
9012 91*4
93
90U 9034 *90
77% Sep 23
69% Jan u
D o p re t_________
600
75% 75%
*74% 75%
75
7514 7434 75
*74
75%
75
75
120 Sep 27
90% Jan
600 \T atlonal B iscu it----------114 115%
114 114
113 1131 *111 1151 *112 114 *112 114
:30
Sep 21
118
%
Jan
11
D
o
p
r
e
f____________
*122l 2 129 *124 130 *124 1291 *124 129 *124 129 *124 129%
12*3 F e b 24 23 Sep 20
N at E n am el’g ft S ta m p ’g
21% *
21
203g 20 %
*19% 21
20
20
20
20
*19
21
09% Sep
82
Jan
D
o
p
r
e
f_____
:
_________
200
97
97
96
96
*94
97
I
*94
07
*94
97
*94
97
94 AUg 13
71% Feb >
883c
8SI4 893g 7.700 N ational L e a d ____________
86% S7%< 88
861.1 87
8 534 86I4 8512 87
102% A p r 21 U334 A u g 12
400
D o pret
110% HOW *110 111
110l2 110% llOlg 110 % *110 111
*11012 H I
97 A u g 10
80
F
e
b
23
2.300
New
Y
o
rk
Air
B
rak
e____
89
87%
86
86
87
85%
85
851
85*4 8534
87
87
87% 9 'ne 14
72 J a a 13
1.700 N orth A m erican C o, new
80%
79
773g 77%
78
77% 7734 78
77*4 77*4
*78
79
41% O ct 26
29% F eb 24
4034 40% 4034 10,150 P a c i f i c Mall .
.
3934 41% 39% 40% 40
40'g
38
3S12 39
64 O ct 4
48
O
ct
‘
8,530
51
51%
I
aoltlc
T
elep
&
T
e
le
g
—
4934
51%
50
49
51
52
5H? 5212
5U 2 521.1
A u g 16
'20
10
1
%
Jan
13
114%
115%
6,125 P e o p le 's G L & C (C h ic ).
I H I 4 11412 1141s 1143i 114% 1141? 114 114% 114% 1147g
24% AUg 21
10 A p r 21
2 1 % 22% 14,100 Pittsburgh Coal Co
2134 22 %
21
213? 2 1 % 217g
2034 21%
2012 21
63 AUg 27
40
Feb
25
3.700
*62
62-3.|
D
o
p
r
e
f_________
62
621
62%
62
62
62
6212
6 Ug 6214 62
56 A u g
060 Steei C a r . .
301? F e b 23
Pressed
501gJ 4934 50% I I ,
43
49
4614 4814 48% 49U
4612 4714
510
96 F e b 26 )11% A u g 11
D o p r e f_________
107 107
105 107 *106 108
*105 1061 §105U 105U *105 107
200
AU g 6
400
Pullm
an
C
o
m
p
a
n
y
.
169
Jail
30
194
*191
198
*193
191% 195
19014 19014 *19012 195
191 191
•J3g J ’ly
isg Jan
400 Q uicksilver M ining_______
434;
412 41
5
*4%
<W4
*4%
412
4%
*412
5
10 M ay 13
3 M ch 29
300
D
o
pret
7
7
6
%
6
J
r
*5%
6
6
71-H
*512 7
*6
7U
64i? a u k 4
32% Mch
ailw ay Steel S p r i n g . ..
3.300
45
4514 451.1 *451g 461? 45% 45*4 46% 4734 47% 48
45M
97% Feb 24 109 A u g 11
D o p r e f......................
100
105 105 *10414 108 *104% 108 *104% 107 *105 107
*105 1081
401" Sep 29
16%
F
eb
23
R
ep
u
blic
Iron
ft
S
t
e
e
l
.
.
.
24,050
47
45%
44
45%
45
45%
4414 4534
44
45*3
4412 451
67% Feb 2 1 11014 J 'ly 28
D o p re t________________
5.300
104 104% 104% 106
104 104%
‘
104 “104‘
104 10434 10334 104
0 163 O ct
68 F e b 23
2.300 ^ loss-S h ef field Steel ft fr
91% 92
91%
90% 90% *90
90lg 91
90
901?
00
89
107% Feb 20 120 Sep
_________________
o pret
100 S l D
119 119
119
2,600 ,/T en nessceC opper P a riZ t $33% o ^ t 13 $49 JIM
36%
34
34% *33% 35
3334 331.
3312 33%
34
34l 2
937g J ’ly 10
8u% F eb 23
100 T exas P acific Land Trust
92%
89% 89% *88
*88 ' 91
*88
91
91
*88
*88
91
15% J ’ ne IS
9% Feb 21
nion Bag ft P a p e r------1,000
13%
12 % 1 3 * *12
13
121g 12 % 13
12
12
1212 121
81 % J ’ ne29
68
.'a
n
100
D
o
p
r
e
f......................
*73
75
*73
75
*73
75
74
74
75
*73
*74
75
3,710 u n ite d D ry G oods p . ctfs *109 S ep 1 111% A u g 6
11 j. 111
*10912 HOI- *10912 1103,1 IIOI4 HOI4 1093.1 111% 110 % 1 1 1 % *313g
351? .J’ ne 6
24% F e b 24
600 U S Cast I Pipe ft Foundr
32%
31% 31% *31% 321;
31
*31
33
3113 8 H3 31
87% AUg 18
70
1,400
D o p r e f.............................
86
85% 855 *85
85
*84
85%
85%
85
85
85lg 853g
82 F e b lo 107 O c t 20
725 U nited States E x p r e s s ..
104
*97
*101
107
*100
107
*101
107
IO
2
I
3
103
1031
103
87 Sep 17
1,500 U S Realty ft Iin p r o v c m ’
64 Feb 23
82
82
81% 81%
*80% 81%
8 H3 81 >s 8034 81
8OI4 82
171? J ’ne 17
Mch 12
10
200 U S R ed u ction ft Kctln’g
11% 11%
12
12
*10
'
*10
12
*10
*10
14
14
*10
39% Aug 12
100
24 Feb 24
D o pret.......... ..................
29
29
34
*25%
34
*25
34
*25
*25
34
34
*25
673,<j Aug 19
F
eb
24
8,775
United
States
R
u
b
b
e
r
___
27
49%
46
%
_
46%!
46
46
45%
46%
461g 4612 46
46
47
2,225
98 J a r 29 123% A u g 2 ’
D o 1st p r e f____________
118% 119%
117*4 117*4 117% 117% 118 118
118 118
11712 118
80% AUg .'3
07% F eb 25
730
D o 2d p r e f____________
84
85
84
84
84
84
*83% 85
8334 8412 *8312 85
94!j O ct ’
4
’ % F e b 23
1448750
883.,
U
nited
States
S
te
e
l_____
90
91
89%.
88%
8OI4 877g 87lg 8014 86*4 89-% 86% 12634
131
O ct
107
l-’
cb
23
19,890
D o p r e f______________
127 127^ 12734 128%
126
125*4 127
1257g 126*4 126lg 127
$54% A u g 12
5,51~ dU tah C o p p e r___Par $10 $39% F cl) 2
48%
49%
471;
47
46
46
46
467g
46
46%
46I4 47
60% .I'm 14
4
)%
Feb
24
6,800
Vlrglnla-C
arollna
C
h
e
m
.
46%
46%
46*
463j
46%
45%
46%
46
4014 46
46
46
114 Jan 19 123% A ug 23
D o pret______________
120 122 *120 122 * 120% 122
*120 122 *120 122 *120 122
7578 Sep 17
57 F e b 2 ?
450 Virginia Iron Coal ft Coke
70
7134
70
*69
70
*69
*69
70
70
*6912 70
70
475 O ct 19
Jan
300
*400
450
Y
V
c,,s
F
argo
*
C
o
------500
*375 450 *375 450 *399 450 *395 450 *40»
813g Sep 14
61 F e b 24
estern U nion T e le g .
2,635
77
77%
753g 76
75%
75
76% 76%
76%
76
7612 76
1)0 A ug
74 F e b 24
4,700 VVestlngh'seEl&M fR assen
86
87
85%
85
84%
84
83>4 8412 *84% 86
8412 85
Mch
145
Sep 3
n
o
Do
1st
pref
*130
140
*125 140 *131 140 *130 140 *132 140

tua

Range lor Previous
year (1.908)

__
....

I rust C o’ s
NY L lfe& T r
N Y T ru st.
Standard Ti
m tcG u & T i
l'r C o o f An.
U nion Trust
US M tg &Tr
Unit Stati s.
Van N orden
W ash in gton
VVeetrliestei
W in dsor . .

....

__

420
145
225
220
270
315
170
130
100

New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
/ a n . 1 1909, the R xohange m eth od o f qu otin g bonds w as ch a n ged , a n d p rices are now a ll—" a n d in te r e s t” —excep t /or in com e a n d d e fa u lte d bonds.
BONDS

P r ic e
F rid a y
Oct 29

N. Y. ST O O K E X C H A N G E
W kek E n ui .vu O ct 29

W eek's
R ange or
Last Sale

S-a
R ange
5*311 Since
^ vi 1J a n u a ry 1

BONDS
h |
N. Y. ST O O K E X C H A N G E [C k
w k k k en d in u o c r 29
|-s;as

P rice
F rid a y
Oct 29

W eek's
R ange or
Last Sale

3 -a1!
!

R ange
.Since
J a n u ary l

|Bm
A’o ijoxo H ig h C en t ol G a K K — (C o n i
A s k Lots
H ig h No Low H ig h
10 10 0 \ 1 0 2 4
7 2 4 ' 7 0 4 A u g ’ 09 . . . . 51
80
3d p ro f in co m e g 6 a s ta m p e d .|. . . .
71
89
Oliatt l a v pur m oil g 4 s . 1951 J-D
91 i 90*8 Sep ’ 0 9 ___ 90*8 9 0 s*
----- 11104 lo3
10 101 1033g
M ae A N o r D iv 1st g o s . 1940 J-J ..................... I l0 4 7a J ’ n e'08 .
iJ-F
M id G a * A U D iv 5 s ....1 9 4 7 J-J 10U<*8 109*4 1 15 N o v ’05 ,
— 1 0 0 ', 102 4
M obile L)iv 1st g 5 s..... 1940 J-J
109 4 ......... 110*4 M ay’ Orf . . . . 1 1 0 4 1 1 0 4
Q-F
. . . . 1 1 0 4 1 1 9 4 ! Cen HU A B o l Ga co l g 5s 1937 M-N 104 4 105 ilOd S e p ’ 09 . . . . 104 100
Q-F
125 *4 1 2 0 4 1 2 0 4 O ct ’09 . . . . 126 4 129
. . . . 1 1 7 4 121 i C en t ol N J g e n ’ l g o ld 5 s. 1987 J -J
q-f
125 4 125 O ct ’ 09 . . . . 125 1 2 7 4
R e g is t e r e d ...................7U087 o - J
Q-N
110 1 0 8 4 O ct ’ 09 . . . . 1 0 8 4 U 0 4
A in D ock A Im p gn 6 s . . 1921 J .J
....
L e A H ud H gen g u g 5 s 1920 J . J 101
K o r s lg n G o v e rn m e n t
95*4
100
99 1 0 0 4 100
t 9 5 4 00
90
1 9U*4 101
95*4
95
Bell & W ilk s B Coal o s . .1912 M-N
A r g e n tin e — In tern a l 5so£ 1909
9 J 7* 100
U97a O ct ’ 09 . . . . ; 99*4 1 0 0 4
Con e x t gu ar 4 4 s ___ </1910j Q-M
Im perial Jap anese U orern m 't
1 93 4 Sale
93 4
93*8 47 90*8 95*4
N Y A B on g B r ge n g 4 s 1941 M-S 100 ___
S te r lin g loan 4 4 s ........... 1926
91*,
92 *8 17 8 9 4 94 4 Cent P a cific See So P a cific Co
i 9 2 4 Sale
)
2d series 4 4 s ..................1925
4 80*, 8 8 4 C e n tV e rm o n t 1st g u 94s.«1920. q - F i
t 80
87
86
86
9 0 4 89 O ct ’ 09 . . . . 8 0 4 9 0 4
S terlin g loan 4 s .............. 1931
n
ililM
i
A
u
f1
n
n
_ il0 4
.........103
104
Clias
A sSa!1
v sA
eV
eJA
lll
l Coast
B iin
e
.
R epub ol C uba 5s exten d e b t ..
j
t
94*8
94
4
9
4
4
O
ct
’
09
103
102 Sep ’ U9 . . . , 1 0 1 4 1 0 3 4
1)92
95
4
d
i
e
s
cfc
O
hio
gold
0
*.........
a
l9
1
1
A-O
San P aulo (B razil) 5s tr recta’ 19
103*8 07 1 0 0 4 105
J t 97 4 97*4 97 4
97 4
G en fu n d in g & m ip t 5 s . 1929 j . j 103 Sait 1101*4
97 4 101 4
U 8 ot 1Uoxioo » 1 g 5s of 1899
Dl ......... 91
9 3 4- O c t ’ 0 ,
2 1 1 3 4 117
1134
1st co n so l g 5 s ...................1939 M-Ni
1 9 2 4 95 j
113 4 1134
G old 4s o f 1 9 0 4 ............... 1954
Reirinlereil
lirid fu
114 4 F e b ’ 09 . . . . 1 1 3 4 1 1 4 4
Ite
giste re d ...................... 1039
mixr
- n .......... 113
XT hese a r e p r ices o n the b asis o ) $5 to £ .
Mtate nml City Securities
103*4 40 103 10b8*
G eneral gold 4 4 s ..............1992 M-S 103** San> 1103
N o v ’O sj. . . . ...................... *
R e g is te re d ....................... 1002 M -s 102 4 ......... 1105 A p r '09 . . . 105 105
D ist ot C olum bia 3‘0 6 s ....l 9 2 4 F-A 107 ..........n o
95 ......... 105 4 D c o ’ 0-1 . . . . .....................
8 6 's 87*4 8 8 *s O c t ’ 09 . . . 88*8 91
Big ban dy 1st 4 s .............. 1941 J -D
L ou isiana new con sol 4 s ..1914 J-J
110 m iiy’oo . . . 107 4 110*4
C raig V a lley 1st g 6s. ...1 9 4 0 J . J , ......... 112
N ew Y ork C ity—
90 J a n ’ 09 . . . . 90
90
P o tts C reek B r 1st 4 s .. 1910 J - J ..................
1 0 0 4 ' 39 9 9 4 1 0 1 4
4% C orporate S tock .........I960, M-N 100 4 Sale 100
99 4 G et ’ 09 . . . 93 1 0 0 4
103 | B A A D iv l s t c o n g 4 s . .1 9 3 9 J .J j ......... 09
i o o 4 ! 19 i o o
4% C orporate a to c k . ...1 9 5 8 M-N 100 Sale 100
109 Pale 108 4
109
97 O ct ’ 09 . . . 9 0 4 97
2d co n s o l g 4 s ................. 1989 J .J
40 108 4 1 1 2 4
N ew 4 4 s ..................................... 1057 M-N
113*4 l*eb’U5
104
103 ‘g 103 4
W arm Spr V al 1st g 6 s . .1 9 4 1 M-S 106
9 108 4 1 0 1 4
N e w 4 4 s ................................... .1917 M-N
92 4 94*4 95 >ep ’ U8
G reen brier R y l s l g u g i s ’ 40 M-N
11 1 0 8 4 113 4
4 4 % C orp orato’ s t o c k ..1 9 5 7 M-N l o » 4 s a l e 1 0 8 4 109
1 104 1 0 4 4 Clue A A lt R R rel g a t . . . 1949 A-O
„
7 7 4 78 O c t ’ 09
7 7 4 80
4 4^o aasessm t b o n d s .... 1917 M-N * 1 0 i 7a
1044
W Ti
73 4 Sale
73 4
74*4 l i 7 3 4 77
18 100 103 4
R a ilw a y 1st lieu 3 4 s . . .1 9 5 0 j - j
4% C
C orporate
orporate -----S t o c k ....1 9 5 7 „M-N
100
4%
„ 100 1 0 0 4 100
70 O ct ’ 09
73
R e g iste re d ....................... 1950 J .J
75
1 1 3 4 J ’ ue’09
112*4 1 ) 3 4
N Y State— H igh w ay 4 s . .l 9 o 8 M-S
101 ......... 1 0 2 4 J a n ’0 9 1. . . . 1 0 2 4 1 0 2 4 Clue B u r lA <4— D e u v D 4 s 1922 F-A *99 4 i o 6 ‘ ‘ 100 D el ’ 09 ... 9 9 4 1 0 0 * 4
8o C arolina 4 4 s 2 0-40........1933 J-J
t l) -4 sale
89
89*4 2 1 ; 89
....
93
Illin ois D iv 3 4 s ................1949 J -J
T en n n ew settlem en t 3 s ..1913 J •J
91*4 t e c ’08
91*4 9‘i*8 93 A u g ’ 09
R e g is te re d .......................1949 J .J
Wl*a M
V irgin ia fund d ebt 2 - 8 s ... 1991 J*J
l
o
u
*4
lo
o
»*
i
o
o
4
s
a
le
"
21
100
1
034
33
47
Ills
D
iv
4
s
.........................
1949
J
.
J
Sale
47
47
3
7
4
8s d eferred B row n B ros otts.
Iow a D iv sin k fund 6 s . .1919 A-O 104 ......... 108 4 O ct ’09 . . . 105*8 1 00
100
I 99*4 101*4
99 4 ......... 100
[,
R a ilr o a d
B u lking fund 4 s ..............1919 A-O
9 9 8s
99-4 14 99*8102 4
99*8 Sait
N e b ra sk a E x ten sion 4».1 9 2 7 M-N
lauam a C ent See So B y
l O l ‘g i I a r ’09 . . . 1 0 1 4 1 0 1 4
R e g iste re d .......................1927 M-N
laba -Midi See A t Coast B ine
98°8 99*8 9 9 ''. S e p ’ 09 . . . 99 100*8
S ou th w estern D iv 4 s ___ 1921 M-S
A lban y <S> Susa See D el * H ud
J o in t bonds See G rea t N orth
A llegh en y V a lley See Penn UK
99 1 0 1 4 101*8G e t ’ 09 . . . . 1 0 1 4 1 0 3 4
D e b e n tu re 5 s ..................... 1913 M-N
A lle g A W est See B u ll H & P
98*4 Sale I 98*4
99 4 43 98 101
4 83
80
83
G eneral 4 s..........................1958 M- S
8 1 4 S3
87*4
Ann A r b o r l s t g 4 s ......... A1996 Q .J
H an A St J o s co n so l O s ..1911 M -8 100 .......... 1 0 2 ‘, Sep ’ 09 . . . . 102 103*4
100 1 0 1 7a
Atoll 'I ' * 8 Fe— G en g 4 s . 1995 A-O IOO1® bale 100
......... 80 i 8 0 4 D el ’0 3 ___ 85
90
99 100
10 99 1 0 1 4 Clue A E i l l re f A im p g 4 a l 9 5 5 J - J
99
99
R eg is te re d ........... ............. 1995 A-O
2 92
93*«
95 4
93*4
1st co n so l g Os................... 1934 A-O 127 129 {129 O c t ’09 . . . . 129 137
N ov
93 4 9 2 4 F e b ’09
92 4 92 4
G eneral co n so l 1st 6 s . . . . 1937 M-N 112 4 .......... 112 4 Sep '09 . . . . 112 4 116*4
R e g is t e r e d .................. E1095 N ov
114 1 14 4
93*4 95
U4l4 l i 92 4 95 4
R e g iste re d .......................1937 M-N .....................l l - l Alay ’ 09
93 4
S tam ped........................h 1,995 M-N
0 113*6 1X5
115*»
117 I 2 1 1 2 4 12 2 , Ohio A l u d C R y 1st 5 8 .1930 J -J , 1 1 3 4 ......... 113*6
S u b roots (lu llp a id ) co n y 4s — U
.........117
121*4 060 10 2 4 123 4 C h icago A E rie See E rie
I
j
C on v g 4 s ........................... l b o b 1J-D 1 2 1 4 Sale 117
1 2 8 4 ........... 1 2 8 4 O c t ’ 0 3
. . . 127 129
121 4 024 11)5*4 1 2 3 4 C h ic In A B o u isv ret Os. ..1 9 4 7 J . j
10-year co n y g 6 s ......... 1 9 1 7 ^ -1 )
aal6 117
114 ......... 114 S e p ’ 09
... 1124 1144
R e fu n d in g gold 5 s ........... 1U47 J .J
D eben tu res 4 s S e r ie s H .1910 F -A
9 9 4 . . . . . . 0 9 ’ j f l e p ’ 09 . . . . | U9 4 9 9 4
........................ 1 0 1 * , J ’ ty ’ o n . . . 1 0 1 4 1 0 2 4
B ou isv N A A Ch 1st Os. 1910 J -J
98 4
98 4 J” ’ly" ’ 09 . . . ' 98 4 98 4
“
' ......... .........
S eries K ........................... 1913; F-A
......... 90 I 95 4 A u g ’ 09 . . . 93*4 9 6 4
Ohio
Iu
d
&
S
ou
5
0-yr
4
a
..1
9
5
0
J
.
J
.
.
.
'
97
99
07
4
97
S
e
p
’
OOi
UO
E a st O kla D ly 1st g 4 s ..1 9 2 8 M -8
04 Bale i 04
04 | 3 93*4 9 0 4 Clue Ain a SI P term g 6s 1914 J - j 1 0 3 ............ 1 0 4 4 S e p ‘ 0 9 . . . 1 0 4 4 1 0 5 4
S hort B in e 1st 4s g ......... 1958; J - J
103
19 1 0 1 4 104*4
G eneral g 4s series A ..« 1 9 8 9 J - J 103 Sale 103
2 110 4 113
8 Fe P res A Pli 1st g 5 s .1942 Al-3 1 0 9 4 1 1 1 1 1 0 4 H 9 4
R e g is te re d .................... el9 S 9 O -J ........ 1 0 3 4 O ct 08
A tl K n o x A N See B A N
3 83
92*4
G e n e r a lg 3 4 s series B.«1U80 J . J
8 8 y s8*v
88*u
954' 954
0 5 *4 ' 27 1 0 4 4 90*4
A tlan tic Coast 1st 11 4 s ./ll9 5 2 M- 8
93 9 3 4 96
109 Sop ’ 09 ----- 109 111
25-yr deben 4s (w i)........1934 j - j
J e s S a le
934
®4
A la M id 1st gu gold 6s ..192 8*M-N 108
6 1 0 8 4 109*4
C h ic A B S U DlV g 5 s . . . . 1921 J - J
10s4baU - 1 0 8 4
1084
0 0 4 J'ne’OU-----j 0 0 4 9 0 4
B run s A W 1st gu g 4 s . . 1938; J -J
. . . .•, 110*4
1134
Chic A M o ltiv D iv o s . . . 1920 J - J
},\ 0 4
......
110
O ct M9
O harles A Say 1st g 7 s ..1 9 3 0 J -J 132-1
89 ‘ 8 0 4 ‘ 8 0 .........80*4 2*i " 8 0 " 03 4
CliiO A P a c D iv Os........... 1910 J -J
100 101*4 101 si J M UD . . . . 1 0 1 4 10 l»»
L A N coll g 4 s ............... 01962 M-N
1 lOtv
1034 1 10 4
127 i
Clno A P W l s t g 5 s........1921 J -J
1W> 4
10o*4
1US*4
Bay F A W 1st gold O s ..1934 A-O 127 ......... 127 J ’ n e’o o . . . . la v
"
*
.......
•“
*
■
*
1114
Aug
Ob
..........1 0 4 4 A u g ’O . . . . 104*6 1 0 5 4
1124114 I D ak A G t b o g 5 s . . . ; i ; " l 9 1 d J -J
1st gold 6 s.......................1934 * ~ 112 114 11 24J’ly ’99
96
..........l d ( 4 J ly^J
Far A Sou assn g Os........1924 J -J
97
974
97 4 J 'u e ’OJ
SU Sp O ca A G g u g 4s ..1 9 1 8 J -J
101 A u g ’ Oo . . 101 1 u 2*4
H a s t * D D iv 1st 7 s ........191 0 J -J i |JU
A tlan tic A D an v See South Ry
i
i l a r ’ 09
99 4 ......... l o t
.. 101
101
1 s t 5s..................................1910 J-J
Austin A N W Ace Sou P a cific
10
i
Sale
1
01
107
3 107 107
63
92
4
Sale
B
aCrosse
A
D
1st
5
s
92
4
92
95
___
1919
J
-J
92 *»
H a lt A O hio prior I g 3 4 s .l9 2 5 J -J
......... 1 0 0 4 O c t ’ o9
lo o
. . 100 4 101*4
914
M in eral P o in t D iv 5 s___ 1910 J -J
9 1 4 10 9 , 4 93
914
O R e g is te r e d ................. 41925 C)-J
.. 100*4 102
lu u
......... 100*4 D o t ’09
Sale
So M in n D iv 1st Os......... 1910 J -J
99 4 72 99
99
101*8
G old 4 s ..............................419 48 _A-O.. 108-4 110
W is A M in n D iv g o s ___ 1921 J - J 10 7 4 ......... 103*4 D ot ’ 09
R e g is t e r e d ............. ..41 9 4 8 ! QQ-J-J* ♦......... 99 4 99 4 O ct ’ 09 . . . 98 100*4
toi*6 l o i * , J ’ly ou .. 101*4 1 0 1 4
j M il A N o 1st M B O s....1 9 1 0 J-D l o o
120 Dot '01 . .. i-T
P itts J uuo 1st gold O s... 1922 J --JJ 108
105
.........
107*4
J
’
n
o’09
. . 1 0 7 4 107*4
88
4
90
O
ct
’
09
88
1st
con
sol
Os...................
1913
J-D
89
93
P J uu A M D iv 1st g 3 4S1925 M-N
1 113 1 1 8 4
1 1 2 4 1 1 4 114
114
9 2 7g 93 4 93
93 I 2 93
9 6 _1 C b lc A N o r t h w c o n s 7 s ___ 1915 u -F
P B K A W V u S y s r e f 4»1941 M-N
99 100*4 100 4 O c t ’ 09
. . 100*6 102
90 Sale
90 | 22 89
89*8
9 1 7s
E x te n sio n 4 s ......... 1880-1920 F -A
Southw DlV 1st g 3 4 s . . .19 2 5 J -J
-J
..................... 100 4 J iy 0.1 . . 99*4 101
91 |
91
R e g is te re d ........... 1880-1920 F -A
U-J
91 A p r ’09
R e g is t e r e d ................... 41925, <
4 -J
S - *4 Sale I 89*4
»t>4
0 39*4 94*4
103 J ’ ue'09 . . . 103 103 1 G eneral gold 3 4 s ............. 1987 M-N
Ceil O hio R 1st. o g 14 s . . 1930 M-S i o j "
89 ......... 1 93 4 A p t ’OU . . 9 3 4 93*4
R e g is t e r e d ................... p l9 8 7 y - F
110 4 1134 1
01 Bor A W con 1st g 6 s 1938 A-O ......... -------- 113 O ct '09
1 0 6 4 F eb ’07 .
S in k in g fund O s... 1879-1929 A-O 111 ......... 112 A u g o t
M otion H lv 1st gu g 6 s . . 1910 F-A
110 4 ......... H o 4
l iO
1 103*4 109*4
113 S e p ’09 .
R eg iste re d ........... 1879-1929 A-O
113 113 4
O hio R iv e r R R 1st g 6 s .1030 J-D 112 114
103 1 1 0 4
S in k in g tund 5 s ...1 8 7 9 -1 9 2 9 A-O 103 109 4 108-a D d ’ 09
1104 J’uoob
1084112
G en eral gold 6s ..............1937 A-O
1879-1929 A -O
- . . 7 . . 1 10 *i J a n ’ 09 . . . . 110*4 110*4
R e g iste re d ,
Pitts O lov A T o l l s t g Os 1922
le b e n tu re 5s
PIUS A W est 1st g 4 s . . . 1917 J -J
984
» 7 ......... 98 4 S « P ’ b9 . . . . 98
1909 M-N — ............... 1 0 0 4 M ny’ OU ___ iOu°8 iu 058
100 N o v ’ 01
ite g is te re d .
Htat ls l lly 1st g u g 4 4 s 1943 J-D
........* .........
. . . . lo 7
1094
D e b e n tu re 5 s .................... 1921 A-O 107
- ,
Boocii C reek s e e N Y C A H
J ’n e ’o7
R e g is te re d .......................1921 A-O ••••*• - ........l u,i
B ellev A Car See Illin ois Cent
lot*
1 109 1 1 3 4
S in k in g lu n d deb 5s........1933 M-N H I
H2
109
Bklyu A M ou ta ok See B on g i
109 J ’l y ’03
R e g is te re d .......................1933 M-N ......... 110
B runs A W est s e e A tl Coast B
101 A pt ’09 . . . . i o i
9 9 4 101
10 14
N ortli lU tuois 1st 5 s . ...1 9 1 0 M-S
Bullulo N Y A E rie See E rie
. . . . 117 4 119*4
M il B S A W est 1st g 6s 1921 M-S
Butlalo R A P geu g 6 s . . .1937 M-S 1 1 4 4 l i f t ’ s 110*4 A u g’09
1 1 6 4 117*8
. . . . 113 115
E x t A Im p s tu u d g 6s 1929 F-A l L l - s ......... 113 Z
C on sol -14 s ........................1967 M-N •••••• ‘
109 1 1 0 4
A ll A W est l s t g 48 g u . . 1998 A -O 199 .
100 O ct ’ 09 .
A sh lan d D iv 1st g 6 a ..1 9 2 5 M-S 120 4 ......... 142 4 F t o '02
100 100*4
11 3 4 ......... 1 2 3 4 A p r ’OJ . . . . 122*, 1 2 3 4
103 J ’ l y ’08
M id i D iv l s t g Os..........1924 J -J
C I A Mall 1st gu g 5 S ....1 9 4 3 J-J 11® 8 .
. . . 117*4 O ct ’ 09 .
i n c o m e s .......................... 1911 M-N 102 ......... 1 0 3 4 M u y V J ___ 1 0 3 4 1 0 3 4
ltooli A P itts 1st g O s.,.19 21 F-A H < 4
i ‘i7*4 i n i "
112
112*4 1 1 2 4 001 ’ 09 . . . . 1 1 2 4 1 1 4 4
C on sol 1st g Os............. 1922 J - 0 . . . . . . 120 4 120 4 A u g ’09
Ohio R o ck ls l A P ac 6 s . . .19 1 7 J - J
118*4 1 2 1 4
* --------------Br
b 2 | 89*4 M ay’ 09 .
R e g iste re d .......................1917 J -J 1 1 1 4 ........ 113 A u g ’ 09 . . . . 11 3 ‘v 1 1 3 4
87 4 90
Bull A S usij 1st
ret g 4s.<11951
J - J>
99
994 984
l’ S78 22 98 1 0 1 4
G
eneral
gold
4
s
..................1988
J-J
Bur C R A N See C It I A P 1
98 .......... 99 A u g ’ 0 9 ___ 99 1 0 0 4
R e g is te re d .......................1938 J -J
tan So Is* e x t O s ........... 1913 J -J
1 0 4 4 S a le 1 0 4 4 1 0 5 4 25 1 0 4 4 1 0 7
89*4
t’0-'V l7 * 8 9 4 94
b u 7a Sale
R e fu n d in g g 4 s ................1934 A-O
............ ..................
5 1014103
(-320 64.................................... 1913 M -S
1 0 1 * 4 1 0 1 4’101*4'
99 * 8 ......... 97 J ’ l y ’ 0 4!..............................
C oll tru st S e n e s l i 4a . . 1910 M-N
R eg is te re d ........................1913 M -8
1U0*4Ma>’ 07
97
97 ______ 97 j ’ ne’ o O . . . . 97
J 4 s .................................... 1912 M-N
O a r b A Shaw n i ’e s l l l C e m
|
‘
i * 4 '6 . . . . . . 94 4 A u g ’O’J 1. . . . 9 4 4 9 4 7a
M -.8.................................... 1915 M-N
Carolina C om <S««8eab A ir B I
9
4
*
4
..
..
..
1
’
1
‘iiOCl
'OU
.
.
.
.
93*4
944
N
4
s
....................................
191.i
M-N
Carthage A A d See N Y C A 11
9 3 l i ......... 93 4 A u g’Oy!___ 93 s 96
0 4 s ..................................... 1917 M-N
Ued R la 1- A N See B C R A N 1
93*4 95
03 4 A u g ’ o 9 ___ 9 .14 93 4
P 4 s ....................................1918 M-N
Oen B ran cn R y See M o P a c I
77 Sale
76 s
Vi*.t .>u9 7 5 4 8 2 4
CliiO it 1 A P a c R R 4 s ..2 0 0 2 M-N
115 1 1 6 4
C e u t o l U a l t l t 1st g 6 s ..u l 9 4 5 F’ -A *......... 1 1 3 4 11 6 4 F o b ’ 09
................... 80 J ’ly V j ___ 30
80
R e g is te r e d ......................2002 M-N
Consol gold 6s.................... 1945 M-N
1 0 9 4 Sale 1 0 8 4 10 934 1 0 8 4 1 1 1 4
91 Sale
904
91 106 8 7 4 9 4 4
Coll trust gold 6 s ......... 1913 M-S
113 Apr ’06
6 79
B u rC e d R A N o rth e rn —
84
9 0 7a
ls t p r e t in c o m e g 6 s ___ p l 9 4 o Cot
84 Sale
83
j
Con 1st A col tr g 5 s . .. 1931 A-O 1 1 3 4_ 111 115 M ay’
. 0 9 L ... 115 117
90
S ta m p e d .............................................
83
84 O ct ’ 09 . . . . 80
ite g is te r e d .................. 1934 A-O ......................1 2 u 4 M a r ’o3
7 63
84
714
2u p tei in com e g 5 s . .. .p l 9 4 5 Oct
7 1 4 75 , 71
O R I F A N W l a t g u o s . 1921 A -O 106 ..........I l l
N o v ’ 05
3 60
7 l *a
84
2d pi e l in com e g 6 s stam ped . . . .
7 1 4 Saits I n 4
1
M. A S t B 1st g u g 7 a ..1927 J -D ................................................
24 53
80
71
3d prei in com e g 6 s . .. .p l 9 1 6 Oct
71 Sale
70s
U8
tf 8
U 8
0 8
U 8
0 8
0 8
U8

U, ft. fill VCl'MIlieHl
2a con sol r e g is te r e d .d l9 3 0
2s con sol c o u p o n ....t t !9 3 0
3s r e g is t e r e d ..............£1918
3s c o u p o n ...................../d 9 1 8
3s con sm all b on d s../c l9 1 8
4s r e g iste r e d ................. 1925
4s c o u p o n .......................1925
Pa n Can 10-30 y r 2 s .k l9 3 0

3d

Hia
A sk Low
H igh
1004101
1004 1004
1 0 0 4 1 0 1 4 1 00 4 O ct *09
1 0 1 4 102 101 '**8 101*8
1 0 1 4 102 4 101 4 Sep ’ O.i
..................... 100 4 N o v ’ 08
110 117 1 1 0 4 O c t ’09
1 1 0 4 ......... 117 4 O ct ’ 09
9 9 7* 100 4 101 Mar'UO

...J 101

... .

J

X
T

to
-0

c
c

A

.. 112 112

iU lSC E B B A N K O llS i B O N D S —Coiilimicd on N ext P age.
S t r e e t R a il w a y
B rook lyn R ap T r g 5a........1946
1st refu n d con v g 4 s ___ 2002
B k C lty 1st con 5 s. 1916.1941
B k y C o A s cou gu g o s . 1941
B k ly u U 11 El 1st g 4 -5 s .l9 5 o
Stam ped guar 4 -5s-----1950
K in g s Co El 1st g 4 s . . . . 1949
S tam ped guar 4 s ......... 1949
N assau E lec gu g 4s ....1 9 6 1
C onn R y A B 1st A ref g 4 4 s '51
Stam ped guar 4 4 » ......... 1951
D et U nited l s t c o n g 4 4 »-1 9 3 2
H avan a E lec con sol g 6 s . 1952
In te r M et c oll 4 4 s ............. 19aU
'In te r Rap T 3-yr c o n v 6 s .1911
43.yoar 6s Serios A ....... 1952
In t e r n a l T r a c coll tr 4 s . . 1949
M an ila E lec 1st A coll 68.1953

A
J
J
,V!
F
F
F
F
J
J
J
J
F
A
.VI
M
J
M

O 1 0 4 4 .........
J
85 *6 Sale
J 103 105
N
90
99 4
A 103 Salo
A 102 4 sa le
A
86
87
A
86 4 87
J ......... 81
J 102 *8.........
J 102 4 102*,
J ......... 84
A * 92 4 .........
0
82 8aits
N 102 78 Sale
N ......... 102 4
J ......... 72>s
S

* N o p r ice Friday; latest tills w eek.




S t r e e t R a il w a y
Met S t R y geu co l tr g 5a. 1997
102 4 108
Ret « 4 a ............................... 2002
« 1 4 89 4
B w ay & 7th A v 1st e g os 1943
102 4 105
Col <2 9lh A v 1st gu g o s . i993
99 4 99 4
Bex A v A P F 1st g u g 5 » 1993
IOO*, 100
T h ird A v o R R con gu 4s 2000
102 4 104 4
C e n t T r C o ce rtfs s tm p d ...
86
87 4
T h ird A v o R y 1st g o s . .1937
85
88
X Url R y A Bt ge n 4 4 s ..1 9 3 6
78 4 84
102 102-4 St J os Ry B t H A P 1st g 6s ’ 3i
101*8 102*4 -<t Paul C liy Cab con g 68.1937
T ri-C ity l ty & E t 1st s f 5a. 19 23
81 4 85
80
92*, u n d e rg ro u n d of Bon 5 s . . .1 9 2 0
4 4 s ...................................... 1933
76
85
In com e 6 s .......................... 1948
102 4 104*,
102 103** Union El (Clue) 1st g 6 s .. 1946
70
72 4 U nited lly s St B 1st g 48.1934
..................... U nited l il t s San F r s t 4 s . 1927
it D u e A n r s Due May < y l)u e .rn e A D u e .iT y fcDue vug

106*4 O ct ’ 09
85
86 4 166
103**8 J ’ ly ’ 09
99 4 M ar’ OO
6
103
102*V
6
102 4
103
87 4 J ’l y ’ 09
b
86
86 4
3
80
80
102 J ’ ly *09
102*, O ct ’ 09
8 3 ^ u c t ’09
i
924
924
82 4
83*8 2)182
1027a 102*, 0-2
1()2‘» 102 4
2
70 Sep ’ 09 ___
98 May’ OU ....

DFlat. o D u e .la u

1 78
79
79
92
48 J ’l y ’ o9
43 4 03*»
103 4 Get, ’ i)9
103 1 0 5 4
100 1 U2 4
......... 1 00 4 100 J ’ ne’ o o
94 102 4
94 O ct ’ ()9
65*4
65*4
6 654 7 2 4
......... 70
05 78 Salt.
bUS 100 63*4 72*4
6 1014 1 1 6 4
107 -a 110 4 107 4
107 4
86 4 O ct ’O'.
83 4 86 4
......... 87
.....................
101 ......... 98 N o v ’08
..... ......
......... 110
1 10 4 .Nov’ UO
98
99
99 J’ly ’ 09
97
99
98 A p r ’ u9
98
98
73 4 85 4
83 Det ’ 09
......... 84
37 4
'31 v. i*j 32
......... 31
b4 Oct ’08
83
86
83 4 O ot ’ 09
......... *4
c 72
76H
......... 75 1 7 4 4
70
p D ue N ov j O ption Sale
o D u e Dot
78
81
43 4a .

1128

$f0W Xork Bond Kocord " C ontinued— P ag e 2

BONDS
Y . 8T O C K E X C H A N G E
W kkk E noinq O ct 29

^ .2
5o

P r ic e
F r id a y
Oct 2.9

W eestt
R an ge or
Last Sale

BONDS

R an ge
S ince
Jan uary

N . Y. ST O C K E X C H A N G E
W kkk Kndi .vu O c t 29

[V O L . L X X X IX .

P r ic e
F rid a y
Oct 29

W eek's
R ange or
Last s a le

R ange
Since
J a n u a ry 1

Sin
cthio R ock l A Pac— (C o n )
Lola
Hiyt\
Lout H ig h E rie—( C on )
Hw
Low
H ig/l
Low H aiti
Ohoo Ok * G gen g 5s .o l9 1 9 J - J 104®» .
102 A u g ’ dS
108 108
N 7 4 G reen L eru cr 5s. 194(5.M-N 105
108 M a r’09
C on sol gold o s ............... 1952 M-N
,111 1 11 % A n g '0 9
i i i " Fu%
104 106® 106 S o p ’ 09
105*4 107*»
*7 Y 811.1 A W 1st ref os .1 9 3 7 ; J-J
K co k A D es M 1st Or___ 1923 A-O
105
105
103 106
2d gold 4 *38.................... 1937 1 F-A
100*4 D e c ’ 06
O luc s t l A N O See 111 Cent
G eneral nold 5 s ............1940 F-A
88% 8 a *8 O ct ’09
"89*8 "oT "
O hio St L A Pitts See Penn Co
114% Dee '08
T erm inal 1st gold 5 s . .. 1943 M-N
C h ic B t P M & O con (5s... 1930 J-D 127% 127s, 127 *« 127
28 127 130%
R e g is 35,000 e a c h . . . 1943 M-N
C ons (3s red u ced to 3 % s,193 0 J-D
92 ...
93 D e c ’ 03
100
100*3
io i'% M a'j’ 09
M id R R o f N J l s t g O s .l P lO A -0
101% 102*3
Ch S t P A .Minn 1st g 6s 1913 M-N 128®s......... 128 '4 S ep 09
106 103 *3 O ct ’09
t ‘J 8 % 12 9 7a 1
W tlk da Ea l s t g u g 5 s . 1942; J-D 103
101 105*4
126 ...
N o r W iscon sin 1st 6 s ...1 9 3 0 J-J
129®^ M ay’ 05:
114 O c t ’09
l--*% 129% 1 Kt A Ind 1 st c o u g u g-6s . . 1926 J -J
109% 115
S t 1’ A S C ity 1st g (is ...1 9 1 9 A -0 H 41 * . ..
114 *8 114*8
J14 1 { » 1' E r ie da P itts s e e Penn Co
I
C h ic A W est In d een g (58 71932 Q-M ...... 112 % 112*8 1 12 *3
115
113 O c t ’ 05*
112 115*8
1 1 2 112* 3 E v a n s A T H 1st c o n s Os. 1 92 1'J - J
C on sol 50-year 43.............1952 J . J
......... 94
94 O ct '09
94
98
99 102*3 103 *4 A u g ’09
103 10 i %
l e t gen eral gold 5a......... 1942 A -0
Chic A W .Mich See P e re .Main
114 A pi 05
Alt V e rn o n 1st gold 6 s .. 1923 A -0
C h oc O & d u ll See C It I A P
95 J ’na’ o s
Suit Co Branch 1st g 68.1 9 3 0 A-O
113 Oct. ’ 00
Olu H d i D 2d gold 4 4 s . ..1 9 3 7 J -J 101
L 'a r g o db So See Ch Al do s t P
105t6 O ct >09
Cln D cfc 1 1st gu g 5 8 ...1 9 4 1 M-N
107
95 109*3 * lin t <fe Pore Ai Sec P ere Alar
C F in d A F t W l s t g u 4a g .’ 23 M-N
i F la C db P e m n See Sea A ir Dine
90
70 A u g ’ 08
Cln 1 A \V 1st m l g 4 8 .1 9 5 3 J-J
88
F o rt S t U D Co 1st g 4*33.1941 J -J
88 *3 ......... 106 M ar’ 9 s
98*u Jan M9
In d D ec A W 1st g 5 s . . .19 3 5 J - J 104 106
96*3 98*3 F t W db R io G r 1st g 4 s . .. 1928 J - J
86
88
86 O ct ’ 09
107 4 D e c ’ 02
l s t g u a r g o h l S s ............. 1935 J-J
f *al H ar A S A See So Pac Co
0 I St L A O See C O C A S t L
97 J ’l y ’ 09
V J a l H A H of 1882 1st 5 s . 1913 A -0
97
VO
Cln s & C Sea (J C C S t L
G eorgia A A la See s e a A Dine
O le a rlie id A M ali See K K 4 P
G a Car A N o r See Sea A Dine
08 Sale
97*4
08*3
O lev C i f l U & S t l i gen g 4s 1993 j - n
97t< 99H G eorgia Paoitlo See So Ry
94 % ........
C airo D iv 1st gold 4 8 ....1 9 3 9 j - j
94*3 A u g ’ U9
94*3 97
G ila V G A N or See So Pan Co
Cln W <Ss M D iv 1 st g 48.1991 j . j ......... 9 4 i 91 Sep Ob
94
95
G o u v A O sw egat See N Y C eu l
96 O ct ’ 09
. 8t D D iv 1st ool tr g 4 a . . 1990 m - n
95
973, i G rand Rap A Ind See P en n R R
91 O ct ’07
R e g is te r e d ....................... 1990 Jl-N
! G ra y’ s P t T e rm See S t D S W
06 ..
92 F ob 08
Spr A Col D iv 1st g 4 s . .1940 JI-S
95 *3 Sale
95*3
06 251
95% 99*4
G t N o r —C B A Q co ll tr 4s 1921 J . J
93 ..
98 Sep ’06
W W Val D iv 1st g 4 s . . . 1940 J -J
95*4
9^%
0
R e g is te r e d , h,.................... 1 9 2 1 Q -J
95*4 99
105
.
.
106 A p r '0 9
0 1 St 1. A C con sol (5s.. 1920 M-N
100% J ’ n e 'm d ... l o o 's 104
108 106
3t P aul M A Alan 2d Os. 1909 A -O
1st gold 4 ? .....................ft 1939 Q-F lOO** 102 hi 100 O ct ’ 09
98*a 100
128*4 130 130 O ct ’09
130 132%
ls t o o n s o l gold 6 s ......... 1933 J -J
98 . .
R e g is t e r e d ................1:193(5
98 A u g ’oO
............1132
A p r ’ 09
98
98*3
132 132
R e g is te re d ...................1933 J - J
1 0 9 * 8 ..
109*8Sep ’ DU
Cm S A Cl con 1 s t g 6 s . . 1928
107 % H I
109*8 109*3
R ed uced to gold 4 %s 1933 J - J » 104 *3 107 *3 108 Sep ’oil
C C C i f c l c o u s o l7 s ..........1914 J-D 109 . .
11 1 * 2 J ’ i y ’ 09
llu8% J ’n o ’ o:
111 *3 111*3
10 8 % 10 s%
R e g is te re d ................1933 J - J
C o n s o ls in k fund 7 s . . ..1 9 1 4 J-D
....... 1 0 l% ll0 1 % U c t ’09
101% 103%
Dakota e x t gold 6 s ___ 1910 M-N
G eneral con sol gold 6s. 1934 J .J 126
130 N o v ’08
99% 1U0 | 98% O ct ’ 09
98% 101
M ont e x t 1st gold 4 s ..1 9 3 7 J-D
R e g is te re d ................... 1934 J -J
100% O ct ’ 06
R e g is te r e d ................... 1937 J-D
Ind B l A W 1st pref 4 s .1940 A -0
94 J ’ ly ’ 03 . . . .
98*4
98%
98
E M inn N o r D iv ls t g 4 s l9 1 8 A-O
98*4 101%
0 Ind * W 1st pt 6 s ...it l 9 3 8 Q-J
124 M ay’ 06
M inn U ulou 1st g 6 s .. 1922 J - J 117
93
92*3
93
P eo A East 1st con 4 a ...1 9 4 0 A -0
i 92*4 96*3
130
130
129
130
132%
M o u tC l s t g u g 6s ___ 1937 J -J
62
62%
63
in c o m e 4 s .........................1990 A p r
18 40
63
136*4 M u)’ 06
R e g is te r e d ....................1937 J - J
C lev A M arietta See P en n R R
113 % O ct ’ oO
113%
113% 117
1st gu ar gold 5 s ........1937; J -J
Olev & P itts See P enn Co
116 J ’n o ’ ub
......................
W
ill A S F 1st gold 5s 1938 J-D 116*8
116 110%
80
81*, 80%
80%
Col M idland 1st g 4 s ......... 1947 J -J
87*3 G re e n b rie r R y See Ches A O
8 80
97 % 97*3 97
Colorado A Sou 1st g 4 s ...1 9 2 9 F-A
07*4
97
99
95*s 95 *3 O ct ’ 09
ref A t g 6s 51952 J - J
95
97*8
97 Si
Itelu n d A e x t 4 M s ..........1935 M-N
97% 62 96®, lOO*, G u lfanA AS 1St1st
J o See C B A <4
114s* 111
114
F t W Jb D en O 1st g (5a.. 1921 J-D
10 114 117*,
ou sa to m o See N Y N H A H
Oolutu da G reen y s e e d o Ry
H o c k Val 1st co n so l g 4 *38.1 9 9 9 J - J ..........104% 104 O c t ’ 09
104 109
001 A R ock Val See H o ck Val
1 UU*3 Sep ’ ua
R e g is te r e d .......................... 1999 J - J
Col A T o l See H o c k V al
98*8.
93% Alay’ oU
Col A H V 1st o x t g 4 s .. 1948 A -O
98% 98%
Ool C onn A Torni See N A W
99 .
09*4 t oU’ OU
Col A T o l 1st ex 4 s ........1955 F -A
07
00*4
Conn A Pas R iv s 1st g 4 s .1943 A -0
H o u s t E A W T e x See So Pac!
J
.
J
101
C uba R R 1st 60-yr 5 g ___ 1952
95 Jan ’ 09
96
96
H ou at A T e x C e u Nee So P ac Col
ak da G t So s e e O M A St P
104
A
p
r
09
I liin ois Cen tral 1st g 4 s . .1951 J-J 1 0 4 % ....... .
103% 104
alias A W aco See .M K da X
'107%
’ U7
J- R e g is te r e d ....................... 1 9 5 1 J -J
Del Hack A W estern —
aO Sep ’ o'J
1st gold 3*as.......................1961 J -J
8 8 % 94%
M orris db E ssex I s t 7 s ., .1 9 l 4 M-N 112% 113
113*, J ’ ly ’ 09
113 *4 1 14*8
94
Sep
’
O
x)
R e g is te r e d ....................... 1 9 5 1 J -J
94
94
1st co n s o l guar 7 s ........1915 J-D 113 118% 114*3 O ct ’ 09
114*3 117%
93% M uy'U 9
93% 94%
E x te n d e d l s t g 3 % a ........1951 A -0
R e g is te r e d ................... 1915 J-D
127 J ’ u e’05
ao J 'Jy ’09
80
80
1st gold 3 s s t e r lin g ......... 1951 M-S
94 S op ’op
lflt r e f g u g 3 %s............2000 J-D
93% 96
102 Sep 09
C oll T r u s t gold 4 s........... 1962 A-O 100% 102
100*4 102%
N Y luick cfc W 1st ( is ...1921 J -J 118 Sale 118
118
117*8121
09
99
R e g is te re d ...................... 1962 A -0 ...................... i*9 J ’n e ’o9
110 Sep '09
C on stru ction 5 s ............1923 F-A lo b % n o
110 112*8
l s t r o £ 4 s ....................
1966 M-N
99*» 99% 99 % G et ’ 09
98% 101%
10(1 *3 O ct ’ (19
T erm A i m p r o v e 4 s ....l 9 2 3 M-N loO %
99 % 1u o 78
D N O A T e x gold 4s ...1 9 5 3 M-N, lU U % ......... 10 u % O c t ’09
99 101%
03
W arren 1st ret g u g 3 % s.2 0 0 0 j F - a
102*a b e d ’ 03
.0 2 % 97
->*uyo7
R e g is te r e d ........................19 5 3 M-N
Del db H u d 1st Pa D iv 7s.l917|M -S 119 120 120 Sep *09
120 122
loO A p r '0 9
C airo B ridge gold 4 s ___ 1960 J *D .......... 102
90% 10 0
R e g is te re d .......................19171 M-S
149 A u g’ 01
38 *3 Get ’ 09
8 8 % 02
u
is
v
D
iv
A
T
e
r
m
g
3
*as.l953
J
J
lio
102
102
10-yr c o n v d eb 4 s........... 1916 J-D 1 0 1 % 1 0 3
6, 100 107%
M idille D iv le g o s ........... 1921 F-A 105
125 -uuy’ oo
103*, O ct ’ 09 . . . J 101*3 103%
1st lien equip g 4 %s . . . . 1922 J - J 102% 103
7‘
9
A
p
r
'0
9
O maha D iv 1st g 3 s ........1961 F-A
79
79
100% 100*3 100*3
1st direr 4 s .........................1943 M-N
100*3 103
79*4 D e c ’08
St D ouis D iv A te rm g 3s. 1901 J - J
1 0 1 a* sale 101*3 lO 17*
A lb db Sue c o n v 3 %s........194(5 A-O
97 107
1961 J - J
79
R e g is te re d ..............
128 O c t '09
R en s db Saratoga 1st 7 s . 1921 M-N 128
128 128*,
90
G
et
’
09
G old 3 *as........................ 1951 J - J
90
00
0 U%
Del R lv R R B rid g e s e e P a R R
83% i o l % G et ’ 99
R e g is te r e d ................... 1951 «*-J
90
96*3
96% 10 96
Deny db R G r 1st con g 4 s . 1930 J-J
08*3
TOO N o v ’ OO
S p rin g D iv 1st g 3*38 ...1 9 5 1 J -J
104 J ’ n e’ 09
Consol gold 4*38...............1930 J. J 104
103 100
..........100
100%
M
ay’09
W estern D ines 1 st g 4 s . .1 9 5 1 F -A
100*8 10 0 ®,
104 Sep ’ 09
im p rov em en t gold 6 s ...1 9 2 8 J-D 102%
101% 104
B e llo v A Car 1st 6s.......1923 J -D 119 *4 ............ I 2 I h e O ’oo
121
1 21
98
93% Sale
1st db re tu n d in g 5 b ......... 1955 F-A
93>3'107 92% 98*3
Card A Shaw la t g 4 s ..
l ‘J 3 2 M'S
*'6
96
% O o t ’o96%
9 . . . .98
98 F e b ’ 03
R io G r J uuo 1st gu g 58.1939 J -D
-, G et ’ 09.I. ..
Clue St D A N O g 5 s . . .1951 J -D 1 1 7 % ............ 119
_____________
. ...
. 118% 120
J
J
78
..........
70
J ’ n e’ 09
R i o g r s o 1st gold 4 s . . . .1 9 4 0
78
80
09|___ 1118% 119
R e g is te r e d ...................... 1951 J -D 116
118 il l a %
% JJ ’ ue’ 09
85 Alar’08
G u aran teed ..................... 1940 J -J
90
90
G old 3 *33......................... 1951 J -D ........................ UO G e t ’09
96% bo**
BlO G r W est 1st g 4a___ 1939 J -J
95%
94% 100*8
M
em
ph
D
iv
1st
g
4
s
.I
I
l
9
6
1
J
°
.....................
10
o
M
a
r
'03
84%
O ct ’ 09
A lge and col trust 4 8 A .1 9 4 9 A -0
83
87
S
t
D
S
ou
1st
g
u
g
4
s
___
1
9
3
1
M
-S
......................I
98
J
’l
y
’08
90
96
Jan ’ 02
U tah C en t I s t g u g 4s a l9 1 7 A-O
In d B l A W est See O U C A St D'
Des M 01 da F t D s e e M A S t D
97%
96
93%
i n d i ll A l a 1st g 4 s ........... 1950 J - J 9 7 % ------- 97%
D e s M o i Uu R y 1st g 5 s ..1 9 1 7 M-N
110 S e p ’04
In t A G reat N o r 1st g 6 s . .1 9 1 9 M-N 110 ......... 110 O ct '09
lu 9 112
95
Det db Alack 1st Ren g 4 s. 1995 J-D
95% O c t ’0 9 " '
95
2d gold 5 s ........................... lu o y M -S ...................... iuO% a u k ’ 09
85 103%
91
91
G old 4 s.................................. 1995 J-D
92 J ’ly ’ 0 9 . . . .
92
T r u s t Co c e r t f s ....................... ...... 1 0 6 % s a ie 105%
lo 6 %
8 6 % 108
D etroit S ou th ern —
3d gold 4 s ............................. 1921 M -3 30
40
48 J ’ u e’oO
48
60
72
74% 70*4 Sep ’ 09 ! . . . . 70
O hio S ou D iv la t g 4 s ...1 9 4 1 M-S
82
I o w a C entral 1st gold 5 s ..1 9 3 8 J-D 105 I 06 106 *3 A u g ’09
1U 6% 1U *4
D ui db Iron R a n g e l s t 5 s . . 1937 A -O 110
111*3 U 6
G old 4 s ...................................1 9 5 1 M-S 77 s a le
76
77
74%
82
......... 1
R e g is te re d ....................................1937 A-O
ill A A G R See D S A M S
2d Os..............................................1910 J-J
J
" ich
‘ See T ol A O O
an A“ M
D ul S h ort D ine S e * N o r P a o
K C F t S A M See S t D A S F
110
110
D al So Shore db A tl g 6 s ..19 3 7 J - J 110
30110 110*3 K C A M R A B See s t D A S F
/ a s i of Alinn See S t P M db Ai
K an C A P a cilio See M K A T
-last T en V a db G a See So R y
72% 73%
71% 75%
K an C ity Sou 1st gold 3 s .. I960 A-O
.. _
72%
7 2 7(
E lgin J o l da Hast 1st g 5 s .1941 M-N 112
115 O ct’09 ....'112*4 116
63 Oot ’ no
R e g is te r e d ..........................i9 6 0 A-O
Elm O ort & N o See Leh A N Y
100% 10u%
100 *8101 %
R e f A im pt 5s (w 1) A p r 1950
Erie 1st e x t gold 4 s.......................1947 M-N
100*3 .
99*3 M ay’ 08 ..
.....
K e n tu ck y c e n t s e e D m N
2d e x t gold o s ..............................1919 Al-S
U»5 *3 106% 106 *, O ct ’ 0 9 '..
106 % 106% K eok A Des M o See O R I A P
3d e x t gold 4 *38.......................... 1923 M-S
103*8......... 105 O c t ’ 0 9 . .
104% 106 |j K n o x v ille A Ohio See So R y
4th e x t gold 5s............................ 1920 A-O
100% . . . . . . '1 0 7 *3 A u g ’ U9 .
106 107 %ji ”i ake
’ — E rie A- W l 8 t g 5 s . . l 9 3 7 J - J ' 114 114% 114 O c t ’ 09
112 % 115 %
6 U1 e x t g old 4 s ............................ 1928 J-D0 0 *,
1 07 Jan 09 . . . J 97
97
A j 2d g o ld 5 s .........................1941 J - J *107 ......... 107%
10
4 107 109%
ls t o o n s o l gold 7 s .......................1920 A1-S
122*8 122% 10 121% 125*4
N o rth O hio 1st g u g 6 s ..19 4 5 A -O 114*4 Sale 114*4 114*4
6 112% 114*4
1st o ou sol g fund 7s.........1920 M-S
, 124 124 A u g ’ 0 9 ___ 122
124
D Sho A M ic h S s e e N Y C en t
|
E rie 1st con g 4s p r i o r ..1990 J-J
84 Rale
82
84% 68 82
01
Doll Val N Y 1st g u g 4 % a .l9 4 0 J - J 100*4 107 108 S o p ’ 08
'106% 108*4
R e g is te re d ............................... 1990 J -J......... 84
86 % M ay’o9 ... 8 6 % 8 6 %
R e g is te r e d ...........................1940 J - J .......... 107 107 A u g ’OD
107 107
1st con soi gen lien g 4 s .. 1990 J -J
76 *a Sale
75%
76
68 69% 80
97
98
D eh igh Val (P a) co n s g 4 s .2003 M-N
0 7 % - - - —- 97% O c t ’ 09
R e g is te r e d ............................... 1990 J-J
85 % F e b ’ 07
D en V T e r R y 1st g u g 5 s . 1941 A -O ..........116% 116*4 O ct ’ 09
116*4 118%
P en n ooll tr g 4 s....................... 1951 F-A8 1
S a te
81
31%
7 ' 75% 00
R e g is te re d ...........................1941 A -O ..................... 109% o e t ’ 99
60-year c o n v 4-> A .......... 1963 A-U
80%
82 | 16 63
89% D eh V Coal Oo 1st g u g 68.1933 J -J 109
......... 10a% Sep ’09 .
do
S e n e s R ...1 9 6 3 A -0 ,
71*3
72 *, _67. 57% 80 I D eh A N Y 1st gu ar g 4 s ..1 9 4 6 M -S . . . . . . 06 1 96*4 S e p ’ 09 I.
96
87
Butt N Ydb E rie 1st 7 s ..1 9 1 0 J-D 116% 117% 116% A u g ’09 . . . . 116 116% | R e g is te r e d ......................... 1945 M -S ................................................. I.
Ohio db E n e 1st gold 6 s . . 1982 M-N 114 % 114% 116% J ’l y 'o 9 . . . . 116 % 117 %
K 1 C A N 1st pt 6 s ........1914 A -0 1 0 2 % .......... l l J ' g J a n ’OO.
C lev db M ahon Vat g 6 s . 1938 J-J 113 ......... 1 2 1
D e o ’ 08
; - - - .............. II
G old gu ar o s '. . . . . . . . „ ” lU14 A-O , 101*4...........101% o e p 'U 9 '!.'" 1 101 % 101 %
L on g D ock con sol g Os..1 9 3 5 A-O U 4 % . . . . . . 126% O ct 09 . . . . 126 128% L eh A H ud R See C en t of N Jl
I
I
Coal A R R 1st cu r gu 68.1922 M-N ......... J ’ n e ’ 0 9
1 1 2 % 1 2 0 I Deh A W ilkesO s e e C e n to f N J
'
D ock A Im p 1st c u r Os..1 9 1 3 J -J . . . . . . 105 1103% 103%
3 103% 1 1 0 1 D oroy A U aney Val See M o P '
I
:

112

51:?

6

H

.

D

K

1

. i‘00%Sale

...

..... 82
72*4Sale

io8% ioo"

l) U

t in s a n d E le c t r io L ig h t
A tlan ta G D Co l s t g 6 s ...1 9 4 7
B k lyn U Gas 1st con g o s . 1946
Buttalo G as 1st x 5 s ......... 1947
C olu m bu s G as 1st g 6 s ___ 1932
D e tiu ilG ily G as g 6 s . . . ...1 9 2 3
Juel gu s C o c on 1st g o s ..,1 9 1 s
Eq g E N Y 1st c o n g o s . 1932
D as A E le c B erg C o c g o s.1 9 4 9
U r R ap G D CO 1st g 6 s . . .1915
H u d son Co Gas 1st g 6 s ..1949
K ali City (M o l Gas 1st g 6s 1922
K in g s C o El L A P g o s . . . 1937
P u rch a se m on ey 6 s . . . . . . i 9 9 7
Ed El H B k n l s t c o n g 4 s l 9 3 9
L a c Uas D o l S t D 1st g 6 s .e l9 1 y
Rer and e x t 1st g o s ........1934
M ilw a u k ee Uas L 1st 4 s . . 1927
N e w a r k C on G as g o s ........1048




J -D
M-N
A-O
J -J
j

.j

F-A
M-S
J-D
F-A
M-N
A -0
A-O
A-O
J-J
%-F
A -0
M-N
J -D

8 0 K L I x4 N K O U 8

C a s u n d E le c t r ic E ig h t
N Y G E D H A P g 6 s . . . 1948
P u rch a se m oney g 4s. ..1 9 4 9
74
68
Ed El 111 1st c o n v g 6 s ..19 1 0
1st con sol gold o s .........1995
ib i%
io i%
5 ib o % 1 0 2 % N Y A O E l D A P 1st co n g 5 s l9 3 u
95% Sep ’ 08
N Y A R ich Gas 1st g 6 s . 1921
96 M ar’ Oe
Pat A P as G A E co n g 6 s . 1949
61% O ct ’01
Peo G as A O 1st c o n g 68.1943
bo ib o ”
100 O ct ’ ()!•
R e fu n d in g gold 6 s ...........1947
105 J ’i y ’09
105 105
C h G - D A C k e l s t g u g o s 1937
100 M ay’09
100 100
Con G C o o tC li 1st gu g 5 s .'36
101 % S ep ’ 09
*01% 104 *v
In d N at Gas A O il 3 0-yr 6s ’ 30
117 % A u g ’ 09
no
118
M u i< uel u a s 1 st gu g 6 s. 1 9 4 1
88 Sep ’ 08
S yra cu se R igh tin g 1st g o s . ’6 l
103
103
" i ib'2% i o s " T ren ton G A El 1st g 5 s ..1949
101 O ct ’ 06
l o o 101% U n ion E lec L A P ls t g o s .1 9 3 2
90%
90%
90% 92% U tica E l L A P 1sts t g 5 s . I960
. . . . ......... . . . . . .
W e stch e ste r D tght’ g g os.1 950
...................

103 .........
107% 108
107

66

68

io i% iin %
lUO 10 2
" ™ io i"
104% 105
............100

......... 102®,
112 120

10 2 % i'0'4 "
101 102
.......... 91%
......... 108%

B O N D S —C o n tin u e d o n N e x t P u g e .

107 % 27 1*07
60
O ct ’ 09

i*08

J-D
102*8 1 0 2 %
F-A
83%
84%
M-S
l o o S e p ’09
J -J
1 10
UO
F -A
98% M ay’09
M-N ......... 100
97 % J ’ly ’09
M-S
104% N ov’ U5
A-O 110 1 2 0 , 1 2o O c t ’ 09
M-S 1 0 1 % 103% 102*4 10 2
J -J
104 O ct ’09
104 1U5
J-D 102 103
102 Sep ’ Oj
M-N
90
94 % 0 4 % A u g 'O b
■u-N 1 0 1 % ..... 1 0 1 % J ’ ly ’ 09
J-D *100
99% J ’ ne’ 09
110 M ay’ 06
81-1>
96 J a n ’ 08
M S 100
j .j
103
J-D
106 10 2 % M ar’ 09

.....

100%
83%
100
UO
97
97%

104%
86 %
100%
112
98%
97%

iY u " i i i i "
1 02 % 104
103 104%
101% 103
86 % 94%
101% 101%
UU% 92%

102% 102%

N. Y . ST O C K K X C H A N GK
WttKK i’.NlXM- OOT 29

K e w

Y o r k

P rice
h rid a v
Oct 5!9

B o n d

Week?*
k a n y e or
Last Sale

T3 q

R e c o r d - - C o n t in u e d —

P a ge

BONDS
N. Y. STOCK E X C H A N G E
W ere E ndin'" O ct 29

kanye
Since
J a n u a ry

1129

3

JnCst I
P eriod

O ot . 30 1909.1

P rice
fY id a y
Oct 29

W eek's
k a n y e or
Last Sate

5 ?

kanye
s in ce
J a n u a ry 1

Hiu
A S K Low
JilQtK S o Loio //Ig A
Low H xyti 17 1 B k ln A Alan Boh See L 1
H xyn
A S It Soie
Hiu
L o n g D ock See ftrm
i 0()*s 94 4
01 Sale
90*8
914
1 12*8
no
V Y C en t A H lily g 3 4 s . 1997 J -J
L o n g Isl’ d— l s t c o n g 58./11931 Q -J 1 12 b8 ......... H 2*»
4 88*8 93*4
J
-J
88
H
O
4
8-04
88 :V
R e g is te r e d .....................1907
0 0 * 4 .........
1st con sol gold 4 s ........../(.1931 Q-J
95 4 Sale
1*5 Si
95^-1 3 ; 93*8 90 4
07 *h Sep ’ 09
OB
97 4
D eben g 4 s ......................1034 M-N
09
G eneral gold 4 s.......................... 1938 J-D07
3b 80*4 85*4
80*4
81
F-A
1 0 0 4 A p r ’Ou
80 4 8 (
1 0 0 'a 100 *a
K erry gold 4 4 a .......................... 1022 M-S98 104
80 4 84 4
81 O ct ’ 09
F-A
8 0 4 81
00 y o o t ’O0
90
07
G old i s .................................1022 J-D
80 4 84*4
00 O ct ’00
90
03
M ich C en t c o ll g 3 4 « ___ 1098 F-A * 8 1 4 ......... 8 1 4 O ct ’ 09
U n ified cold 4 s .......................... 1040 M-S0(3 4 0 7 *i 104
82
’•2 4
82 4 J ’ n e’ 09
F-A ......... 81
4
D
e
c
'08
R
e
g
is
te
re
d
.......................1008
D eb en tu re gold 5 s ............1024 J-D
114 lA
100*4 100*4
08 O ct ’ 00
9 7 " 'W H
Beech C reek le t gu g 4 s . 1930 J -J 100 ......... 100 O c t ’ 09
G uar ref gold 4 s ...............1040 M- S
J - J 101 ___
102 M a i’04
100*4
1
0
2
4
.......................1930
R
e
g
is
te
r
e
d
B k lvn & M on t 1st g (is ..1 0 1 1 M-S
2d gu g u i d e s ..................1030
1st 5s................................. 1 0 1 1 M-S 100 ......... 101*8 D e o ’08
1 10*4 N o v ’00
84 4 .........
B e e ch C r E x t ls tu 3 4 s 51051 A -0
N Y B A M I! 1 s tc o n g 5 s 1025 A-O 300 ......... 105 A p r ’ Oi
97 4 97’ 4
.
0
97 4 A p r ’ 09
103
1
0
0
S
C
a r t * Ad 1st gu g 4s. ..1081 J 0
N Y A H 15 1st g 6 s ........10 2 7 M-S
....
100 N o v ’ Oli
G ou v A O sw e 1 st gu g 5s 1042 J -i)
N or Sli B 1st con g g u 5 s o l0 2 2 . Q-J 102*4
00
_
O
H
*
100 100*4
1194 100 4 100*4 Sep ’ 09
Moll A M ai 1st g u e 4 s . . 1001 M-S
L o u is i a n a * A rk 1st g 6 s . l 9 2 7 |M-» ......... 08 Si 97 *« Sep ’ 00
17 O ct ’ 00
9 4 * 8 ......... 105 u c l ’ 02 . . . .
116 4 i >7 *a
t< J J u n o R gu 1st 4 s . ..1 0 8 0 F-A
L m isv * N asliv gen g 6». 1930, J-D 110 ........
...................
\)l . ... 9G l4 O ct
110 U 7 ,
i 16 Sale 115
ID )
N Y A H arlem g 3 4 s . ..2 0 0 0
G old 5s.................................1027;M-N
17 108 108
0 0 b Sale
0 8 4 102 4
084
00 *,
N Y A N o rth 1st g 5 s . ..1 0 2 7 A-O ......... 1 1 2 4 108 ' 198
U lulled gold 4 s .................104(1 J -J
100
M
ay’Oi)
100
Pep
’08
99
99
4
100
100
4
;
.........
99*8
A
1
A
Pu
1st
con
g
u
g
4s
1003
R e g istered ...................... 1940, J - J
105 J ne’ 08
Sink fund gold (is............. 1010 A-O 100*8
108*4 iVoVi n 4 13 14
110 4 Sop ’ 00
J -D 124 130 4 1 3 1 4 Jan ’ o9
Coll trust gold 5a............. 1931 M-N i(-9 .
13 108*4 , i l
111 y Get- '00
111 i i l ' 5
A - 0 108 *8......... 108*4 109
3
;1
,
K II A N ash 1st g (is ....1 0 1 0 J -D
.................
107*4 J ’ ne oO
107 4 107*4
K-A ......... 105 4 1(15 J a n ’08
L i'in * Lex gold 4 4 s . ..103 1; M*W 4)4*.
r __ . . . . ____
.....................
".26 O ct ’id? . . . . 1^4. *4
M-N ......... 1 10
126 4 120
5 0 * At 1st gold 6 s___ 1020 J-J
................... .
103
s
o
p
’
OS
120
Jan
’
0«
U
O
12
0
J
J
1
0
2
4
102
4
0
8
‘4
.........
N O * M 2tl gold (is........1020 J-J
i 91
93 4
91 Hale
91
91
O gA L C liam l s t g u 4 s g l 943 J-J
P en sacola D lv g o l d d s ... 1020 M-S i OO 108 1 0 7 4 A u g’ OO
90*4 92
1 144
117 Alay’07
u -J ......... 9 1 4 92 J ’ ne’ 09
St L DiV 1st gold (is........1921 M-S
. . . . 115 115
71
Muy’
O
U
115
F
e
b
’
09
J
-J
71
71
1
08
76
2d gold 2 s........................ 1980 M-S
..............
A-O
125 Feb'O b
04
964
94
94 " 5
A tl K n ox A C m (liv 4 s ..10 5 5 M-N ......... 1 94
1(1 110 J ’ly 00
J -J 101 . .
A tl K nox A N or 1st g5sl94(> J
91
95*i
J-D
9 1 4 92
"2
HO
J
a
n
’
00
i
i
o
i
n
i
>
91*4
92
H en der B dge l s t s I g (3s,1021 M-S
J-D
90 4 ......... 9 0 - O ct ’ 09
90 4 94 4
90
98*4
97
97 4 07 4 O ct ’ 09
K en tu ck y Cen t gold 4 s .. 1087 J •J
M-S
04*4 Sale
94 4 97
94*4
94*4
103
D
e
c
’08
105
4
.........
L A N A M & M 1st g 4 4 s 1045 M-S
0 1 *, Sale
M-N
94 4
94*4 Vb 03
9? *4
' 6 " 88 ** * 0 1 4
91
9 L ......... 91
L A N -S outh M join t ls .1 0 5 2 J - J
J -J
112 4 .........
1 134 J ’l y ’09
1 1 2 »* 1 1 5 4
N Kla A » 1st g u g 5 s . ..1 0 2 7 K-A ......... 1 1 2 "v
J -J
112 4 n o
N A C B d g e g e n g u g 4 4 8 1045 J - J
A-O
100 M ay 08 . . . .
io »
ib a 4
4 nv’ OO
P en s A A tl 1st gu g (is ..1021 K-A 110 * 4 ......... i1 100i>4
J -J
12 7' ......... 130 4 Jan ’00
130 ^ 130 Si
4 S e p ’ 09 " I ! 1 1 0 4 116 bi 1
S A N A la con gu g 5 s .. 103(1 1 - A 110 114
124 .........
J -J
01*4
O ct ’ 00
94
95 4
2d
g
u
ar
Os
L A J ell B dge Co g u g 4 s ..19 4 5 M-S
J -J
1 1 1 4 .........
L N A A Oh See 0 X A L
ib i
Foi>'bo
ib i
ib i
M-S
ahon Coal Seo L S A i l S ,
l 115 115
115
115
M-S
924100 j
5 s ........
97*4
97*4
07*4 Sale
anhattan Ky con sol 4 s .1090 A -0
O-M i'lii ......... 119 J'lie ’ 06 . ..
104 A p r ’ 06 . . . 8 |
R eg istered ..................1000 A -0
5 98*4 1 0 0 4
J-.T 0 3 * 8 ......... 98*4
98*4
99 4 100*4
09 4
90*8
00 4
Stm pd ta x e x e m p t .. 1000 A -0
6
J-J
1 0 0 4 N o v ’00
M cK ’ pt A B V See N Y C ent
90 J ’ ne IJ8 . . . . .....................
M-S
05
95
00
83 4 90 4^
M ox C en t c o n s g 4s...........1911 J - J
91*8 93 4
M-N ......... 91
95 4 j ’l y ’"9
2 4 4 27 4
2 7 4 20 A u g ’00 j |
l s t c o n s m o g 3 s ......... a l 9 3 9 J ’ ly
02*s Sale
A 0
92*6
92*6 10 9 1 4 93*4
25 4 A p r 09
20*4 2 5 4
2d c o n s m o g 3s tr u s t r e c ta ..
J -C
................... j 80 J ’l y ’09
80
80
M ox In tern a t 1st con g 4 s . 1077 M-S
90 4 sa le i 09 4
9*
2 99 4 102*4
................... I b0
F o b ’ 08
N V' Clue A St L 1st g 4 s 1937
Stam ped g u a ra n teed ... .1 0 7 7 M-S
09 4 100 l l o o
A u g’OO ..i ii o o 1 0 0 4
................. :100*8 Alay’OU
loo®* l o i
R e g is te re d ..................... 1937 A-O
i l e x N orth lBt gold (is ....1 0 1 0 J -D
-----;
. . 91*8 04
89 4 01 I 0 1 4 S e p ’ 00
D
e
b
e
n
tu
re
s
4
s
..............1931
M ich C en t See N Y C en t
(J 101 1 0 1 4
102*4 103 4 102*8 103
, W e s t Shore 1st 4s g u . . . 2301
Mid ol N J See Erie
100*4 Sale 100*4 101
5 IUU 103 4
1
R e g iste re d ...................... 2301
Mil L S A W See C h ic A N W
!N
Y
A
G
reen
w
L
ake
s
e
e
E
rie
MU A N orth See Ch M A St P
1 3 2 4 J ’ n e’ 0! . . . . 132 4 1 3 3 4 N V A H ar See N Y C A Hue
M inn A St L 1st gold 7 s .. 1927 J-D 133 .
118 J a n ’ O',
N Y i>ack A W See D L A W
P a cillo Kx 1st gold O s... 1021 A -0 108*4
! ! ! ! 101*4 1 0 3 4
South W est E x 1st g 7 s. 1010 J-D
i . . . . 109 1 1 1 4
1st con sol gold 5 s ............. 1034 M-N ......... 107 4
84
8 7 4 N Y N 11 A 11—C o n v (is .. 1948 J - J 141*4 Sale 141*4 1 4 3 4 :>72 133*4 146
83*g 8 4
1st and refu nd gold 4 s ..1 0 4 0 M-S
104 Salt, 103*4 108
1191 9 7 4 111*4
0 1 4 9 1 4 I C on v d eben 3 4 s ............. Xy50 J - J
9 1 4 02
D os M A F t D 1st g u 4 8 ...’35 J -J
ilo u s a to n ic R cou g 5 s ..1937 M-N 1 1 4 4 ......... 11 8 4 D e c ’ Ob
JV11n u A St L gu See B C R A N
..................... IU7 A u g ’ UO ...jjl0 7 107
O ct ’00
99
1
0
0
4
'
N
11
A
D
erb
y
con
c
y
5S.1918
M-N
99
90
09
4
M S tP A S S Al con g 4 m t gu ’ 38 J -J
99
99
N Y A N orth See N Y C A H
0 8 4 ......... 99 J ’l y ’09
M S S Al A A 1st g 4 lut gu 1020 J - J
07 4 Sale
06*8
0 74
6 : 96*8 99*4
N Y O A W ret 1st g 4 s .. j /19 9 2 M-S
M inn Un See St P Al A M
I
101 4 J'ue’OU
99*,
3
2
1
08*4
98*4
Sale
Regia 35,000 o n ly ..........«1 9 9 2 M- S
9
8
(4
1
0
1
4
Mo Kan A T e x 1st g 4 s . ..1 0 0 0 J-D
88
1
1
SO**
88*4
87*4
87 4 88 4
N Y A P u t See N Y C A H
2d gold 4 s ..........................? i9 0 0 h -A
loO
100
104 4 1 0 9 4
1st e x t gold 6 s .................. 1944 Al-N .........105
1 1 83*8 8 7 4 N Y S A W See Erie
85 4
364
84*4 85
1st A refu nd 4 s .................2004 M-S
90 4 ’ 163 80*8 0 3 4_ N Y T e x A M See So P a c Co
00 4 Salb 89*8
G en s 1 4 4 s .................... 1030 J -J
101 ..........101
101 10/
O ct ’ 09
A p r ’OO___' 88
89 4 N or A Sou th 1st g 5 s ......... 1941
85 4 ........ aa
St L D iv 1st ref g 4 s ___ 2001 A -0
125
1 120*4 128
. N o r t A W e s t g e u g O s ........1931 M-N 1 2_4 4 .......... 125
Dal A W a 1st g u g 6 s ...1 0 4 0 Al-N 105 .......... 106 O c t ’ oa i___ 1 105 110
129 120
' ’
Im p ro v e m ’ t A e x t g O s .,1 9 3 4 F -A 126 126' 120 M ar’09
03 A p r ’09 . . . . !| 03 03
Kan C A Pao 1st g 4 s . ..1 0 0 0 1* -A ......... 95
1 2 8 4 J’n o’ 09 . . . . 127 128 4
113 Oct 00!___ 1113 1144
N ew R iv e r 1st g Os........19 3 2 A- 0 .......... 12o
Mo K A E 1st g u g 6 s . .. 1042 A -0 ......... 1 13
09 4 261 08 1 0 0 4
N A W R y 1st con g 4 s . 1990 A - ° .........
i ‘J®
M K A O k 1st gu 6 s........1042 M-N ......... 107*, 107 4 Got ’09 . . . . .107 4 1 1 2
97
J ’ l y ’ 0 9 ____ 97
ID
R e g is te r e d .......................1990 A - ° - - - - jf j
M K A T o l T 1st gu g 6 s . 1042 Ai-S 1 0 5 4 100*4 103*8 O ct ’ 0 9 ___ l o o
i if*
95
Ml
0H2 \
l
l
o
y
A
p
r
’u
o
___
1104
liO*.i
l
.........
p
i
i
l
D
iv
’
l
1st
1A
geu
g
4
s
.
..
l
9
4
4
J
J
92
4
Slier Sh A So 1st g u g 5s . 1043 J-D
1
0
1
4
9
3
4
1
0
34
107
ft
e
p
’
OO'___
107
l
l
l
:l8
1(1-23
year
c
o
n
v
4
s
___
1932
J-D
1
0
0
4
1
0
*
4
1
0
0
4
T o x A O kla 1 s t g u g o s . . . 1043 M-S 103 100
Oo 4 Oo
00 4
89*8 93
P oca h C A C )o m t 4 s .. 1941 J ' D
Mo Pacific 1st cou g 0s ...1 0 2 0 M-N ........ 1 124 112 G et ’ 00 . . . . 112 l l l i
10 6 ......... 100 4 F e b ’ 06
l
o
i
*4
Sale
101*4
10l*s!
23
100
4102*8
_
.
_
_
C
C
A
T
1st
g
u
g
6
s..........1922
J
*J
T r u s t gold 6s sta m p e d .a l9 1 7 M-S
«0*8
1 96 4 9 8 4
104 4 E o b ’ 07 .............................. ; S cio V A N E l s t g u g 4s 1089 ,M-N ......... 00 4 06*8
R e g is t e r e d ............................ a l0 1 7 M-S
1 101 103*4 N o rth Illin ois See Clil A N W
i o f 4 102*8 1 0 1 4 1 0 1 4
1st coil gold 5 s............................ 1020 i'-A
00
80
j
93
78*4
80
4
N
o
rth
O
hio
See
L
E
rie
A
W
I
I
8U
sa
le
40-year gold loan 4s.........1045 M -b
85 1 0 1 4 1 0 4
3d 7 b e x td at 4 % ........................ 1038 M-N0 5 * 4 ......... 0 0 4 J ’ ne’09 . . . . \ 9 0 4 9 0 4 N o r P a c—P rio r lieu g 4 s . . 1097 Q J 101*4 Sale 101*8 102*8
3 101 103
1014
1014
00 >8
0 4 7s O ct‘ ‘’o O
" ___ ' 89
R e g is te re d ...................... 1997 Q*J
04 4 95
Cent Br By 1st g u g 4 s .1010 r -A
73
;
73
13 72*4 75
73
sa
le
0
1
j
G
eneral
lien
gold
3
s___
a2047
4
‘
K
88 4! 19 8 8 4
87 4 ......... 88 4
Cen B ranch U P l s t g 4 s . l 9 4 3 J-D
72*8 74*4
72 4 O ct ’ O0 .
71
R e g is t e r e d ................... a2047 4 ‘ K
110 Mur’0 6 1. . . . " ...................... 1
Leroy A C V A L l s t g 5 s 1020 J - J
974
S t Pu ul-D ul D iv g 4 s ___ 1900 J ' D " o T
9 7 4 07 4 O ot ’ 0 0 ___ 90
Pac R ol Alo 1st e x g 4s. 1038 K-A 100*8......... 100:«b O ct ’ 0 0 ‘___ 00*4 100*8
D u l S h o rt L l s t g u 5 s . .1 0 1 0 M -S
116 S e p ’ 00 . . . . 112 4 115 j
2d exten d ed gold o s . ..1 0 3 8 J -J
109 i 7 109 112 • O B A ( j c o l i t r 4 s S e e G tN o r
S t L l r A l A S g e u c o u g 0 s i 0 3 1 A -0 100 109 4 100
Oct ’09 .. 120 1 2 1
no
tel P A N P geu g Os___ 1023
118 4 ......... 120
1 1 1 S e p ’ o O . . . . 110*4 111*8;
G on co n stam p g t d g 6 s 1031 A - o
119 119
119
2 115 1 2 0 4
87
R e g iste re d c e r tific ’ s .,1 9 2 3 Jl-F
87 4
87 4 15 86
00*4
U Hilled A rel gold 4 s .. 1020 J - J
110 ......... 117 4 J ’ l y ’ 07
87*4 Salb
87
87 4! 12 87
01 ;
St P aul A D ul 1st 5 s . ...1 9 3 1 9
lli v A G DIV 1st g 4 s .. 1033 M-N
104 104*4
104
4
.........
104
4
Sep
’
09
107
4
A
p
r
’OO
.
.
.
.
'
'
......................
1
2d
6
s
...........................................
1917
A
-O
V erdi V 1 A W 1 st g 6 s . 1020 M-S
0 | 9 7 4 99
98 DeC’ OO . . . . .
.
.j
97 4 93 4 98
98
1st co n so l gold 4 s .......... 1908 J ’ D
M ob J A K G 1st con s g 6 s .1063 J-J
93 ......... 92 4 Jan ’09
92 4 92 4
122 1 2 2 4 A u g ’OO . . . . 110 4 126 i W ash C ent 1st g 4 s .......... 1948
8 4 ‘*
M ob A O hio new gold ( is ..1027 J -D n o
i U 0*4 1 1 0 4
l lU 34 .8alb 110*4 1 1 0 *.
3 J*
1st exten sion gold 0 s ../il 0 2 7 Q-J 117 1 1 8 4 117*4 O ct >i0 . . . . 117 118 I,,
K1
89
89 4 80 4_ G e t ’. 0 0 ___ 80 4_ 01 U N o r R y C a l bee So Pao
G eneral gold 4 s .................1038 M-S
112
112*4 G e t ’ 09 . . . . 112 4 l l 2 7e iN o r W ls b'ee C St P M A O
M ontgom D iv 1st g 6 s ..1 0 4 / r -A
76 M ay’0 8 .............................. |(Nor A M on t See H Y Cent
8 t L A Cairo coll g 4 s ..« 1 9 3 0 Q-<j
101 N o v ’ 04
. 90
lu d A W
b eeC C C A S tL
G uaranteed g 4a........... 1031 J-J
IO
Al A U coll 4s See Southern
jiO re A Cai s e e So Pao Co
M ohaw k A Alai b'e«N i C A 11
j O re S h ort L in e See Un Pao
M ououguliela R lv See B A G
j O sw e g o A R om e bee N Y C
M ont C en t See St P Al A Al
1084112
109 O c t ’ 09
II l i n e Coast Co 1st g 5 s ___ 1940 J-D 1 0 9 4 .
M organ’ s La A T See S P Co
|>JL ao ot M isso u ri bee Alo Pao
M orris A E ssex See Del L A W
, _
______ 100*4 112*4 P en n R l l 1st real e s t g 4 s . l 9 2 3 M-N 103 ............ 104 O c t ’ 09 . . . . 103 105
109 1 0 9 4
ash Chat A St L 1st 7 s . l 9 l 3 J - J
O c t ’09 . . . . 112 113*8 1 C on sol gold 6 s ...................1919 M-S 1 0 9 4 .......... 1 0 9 4 J a n '0 9 . . . 1 0 9 4 1 0 9 4
1st con sol gold 6 s ...........i0 2 8 A -0 110 112*4
101
S e p ’0 9 ____ 101
C on sol gold 4 s ................... 1 U43 M-N
J asp er B ran ch 1st g 0 s .. 1023 J -J 117
C o n v e rtib le g 3 4 s ........... 1912 M-N 1 0 4 4 Salt 1 0 2 4
D 4 4 5 oG 9 7 4 1 0 0 4
117 4 Aiar’06 .
M oM M W A A l 1 s t 0 s ..1017 J -J
C o n v e rtib le g 3 4 s ............1916 J -D
9 7 78 Salo
90*4
98 11U) 94*4 100
113 J 'l y ’ 0 4 .
T A P B ranch 1st 0 s ....1 0 1 7 J -J
C on sol gold 4 s ................. 1948 M-N 104*8 saie 1 0 1 4 lb4*s 61 103 4 106*4
N ash Klor A Sliel See L A N
A lie g Val geu g u g 4 s . ..1 9 4 2 M-S 100
99
J 'u e V ? .................
92 7» 96
93*4 9 1 7s 9 4 4
94 4
N a t U ys o f A le x p r 14 4 s 1057 J •J
D K R R A B ge 1st g u 4s g . ’3B F -A ........................................................ .....................
89
80
87 4 Sale , 87 4
88 I
G uar gen 4 s . . . . ............... 1077 A -O
P h ila R a lA W i e t g 4 s . . 1943 M-N 1 0 3 4 ........... 104 J ’ n e ’ uo . . . . 1 0 3 4 104
102 103
1 0 1 4 ......... 102 A u g ’OO
N u tol M ex prior Hon 4 4 s . 1920 J-J
Sod R ay A So 1st g 6 s . . .1 9 2 4 J - J UK) ........... 102 Jan ’0 3 ..............................
.......... 84 I 83 4 O c t ’09
80
86
1st con sol 4s................................ 1051 A -O
U N J R R A Can ge n 48.1944 M -S 103** 100 106 4 J ’l y ’ 0 9 . . . . 104 1 0 6 4
N ew 11 A D See N Y N 11 A 11
N J J u n o U R See N Y C en t

112*8

M

N

d llS C K L L 4 N E O U S B O N D S —C o n tin u e d o n N e x t P a g e
C o a l and Ir o n
B u lI A S u s q I r o n s 1 5 s ___ 1932 J-D
D eb en tu re 5 s ................a 10^0 M-S
Uoi i de i c O geu s 1 g 6S..1U4.. 0 -A
C on v ertib le deb g 5 s ___ 1011 K A
Col I n d u l s t * c oll ds g u .,1 0 3 4 K-A
C on tln ’ t a l C l s t s i g u 6 s g . l 0 5 . F-A
G r R iv C o a l A C 1st g (is .. 1 0 10 A O
Jell A Clear C A 1 I s t g 5 s . l 9 2 ‘ , J-D
Kan A 11 C A C l s t s f g o s .lO b l J -J
P oca h Con C ollier l s t s i oa.’ o i J-J
Sun day O reoa Co g 6 s . ...1 0 4 4 J J
J -J
T oiin Coal geu 6 s............ 1051
T eu n D iv 1st g (is....... a l9 1 7 A -0
B lrm D lv l s t c o n s o l ( i s . . 1017 J-J
Call C Al C o 1st g u g (is .1022 J-D
D e B a rC A 1 Co gu g (is. 1010 F-A
V lo io r F u el 1st s 1 5 s ......... 1953 J -J
Y a lr o u Coal A C o l s t g 6 s . 1949 M-S

08 100
09*4 100 May’ OU
97*4 90 O ct ’ 09
00
07*41
08 4 07 4 O ct ’09
04 1 0 0 *,
87
97 4 87 4 J ’i y ’ 09
87 4
80
814
84 v
8 71
81 Sale
.07*8 D e c ’ 04
102*8 A p r ’ Oii
05 100
107 Muy’ 97
1 0 5 4 D e e ’ 00
98
89
88 4 88 Sep ’ UP .... 80
78 Feu ’ 07
103 4 103*4 104 O c t ’Ob
101 4 104
100 4 108 A u g ’ 00
1 0 0 4 109
108 Sep ’ 09
....
100 4 10 1
no
105 ......... 110 J a u ’OP .... 110
94
904

09

87
Sale

*N o p rice Friday; latest bid and asked. a D u e J a n




87

08 4

A u g ’ OO
09

10

87
95

87

10 0

T e l e g r a p h a n d T e le p h o n e
A m T e le p A T e l c o ll tr 4s 1929 J -J
C o n v e rtib le 4 s ....................1930 M-S
M ich State Telep 1st 6 s ..1924 F-A
Pac T e l A T e l 1 s t 5 s ......... 1937 J - J
W est U nion co l tr cu r 5 s . 1938 J-J
Fd and real est g 4 4 s . .. 1 9 5 o Vl-N
C o n v 4s, S eries A ___ ...1 9 3 0 M-N
A im Uu 1’el s lu n d Os...1 9 1 1 .Vl-N
(Iniu il iic lii rlu g «V lu du st i’ iui
A llls-C h alm era 1st 5s........l 9 o o J - J
A m A g (;h em 1st c 6 s ........192b A-O
A.Ul Cot Oil e x t 4 4 » ............191o 4 -F
Am H id e A L 1st s 1 g O s.. 191b M-S
A m er Ic e S e cu r deb g O s.. 1926 A -0
Am S pirits M lg 1st g O s ..1915 A1-S
a.ui i'liread 1st co l tr 4 s . .1919 J-J
A m T o b a c co 40-yr g O s.. . . 1944 A-O
4s.............................................1951 F- A

6 D ue Kell « D ue J a r d D|i« A p r A D ue i ’ ly fcDue Aug

92*8 Sale
106H Sale
99
98
08*6
100 4
94 4
100 100 4

9 2 4 17 91»» 93
02*8
103 4 105 4 780 92 4 1074
08 100
98*4 Oct 00
98
0 8 4 64 9 04 9 84
98 4 1024
100 4 Oct ’OH
t:
95
4 93 4 06*4
100
1004 29 84 102*»
100 Mar’09 . . . . 95 100

81*8 Sale
102 Sale
0 0 4 Sale
1 0 1 ip-jJ.
72
73 ^
96
07
03
034
109 Sate
80 4 Sale

83
884
84*6 :26 80
101*4 102 ‘4 14 00 103 4
96 \
8 90
98*4
98 4
102
102 4 15 90*4 103 4
80
67
7 3 4 Oct ’09
100
07
2 0 54
96 4
90*4 93
93 Oct ’00
109 4 82 104*9 112 4
109
81
80
80 4 186 74

o D u e 'J c t

_

v D ue .' ov q D ue t)co * O p tion Bala

1044

1130
itOXIJH
N. Y. S T O C K E X C llA N ’ O K
W Kk K K VDLN'O OCT 29

Hew York Bond Record --Concluded ~ Page
P rice
B'riday
Oct 29

Wee&s
R a n ge or
Last Sale

§3

0.0

R ange
S ince
J an u ary 1

BONDS
N . Y. S T O C K E X C H A N G E
W e ek E ndinh O ct 29

4

jV O L . L X X X IX

O

W eei's
R ange or
Last Sale

F rid a y
Oct 29

Lange
s in ce
Jan uary 1

Bid
Ass Low
Hlgh\ tio L ow H ig h S outhern Pao Co—{C o n tin u ed ;
IHid
Low
Utah
.ow J/ifjd
P e n c <:o—G nar 1N tg 4 % s .l9 2 1 J - J
104% 104*4 O ct * o u !;... 104 106*2
N o o f Cal gu ar g 5 s ........ 1988 A -O I
112 F e b ’ O
R e g is te r e d .......................1921 J -J
104% 104 *9 M ay*09
104*2 104*2
O re & Cal 1st gu ar g 5s. 19271J - J 103
104 Alar (>v
:04 104
G uar 3 % s c u ll trust, reg .1 9 3 7 M-S
00%
90*9 J ’ no’00
S o P a c o t A ria7, l s t g tu <x Gs.c’ i o J - J
101 *2 J a ii ’ n
!0 l»2 101*2
G uar 3 % s c o ll ir s er B ...1 0 4 1 F-A
89
00
91 J ’ l y ’ 09
90*4 91*4
too P a c o f Cal—6s E
E«fe F . 1912 A-O
104*« J ’ n e’ u
T r C o certir’s gu g 3 % s .i 9 i 0 m - n
97% 98
9734 O ct *09
96*4 98
1st g o ld 6 s ...................... 1912 A-O
114*2 D e o ’ 04
G n 3*28 tr c i f - ............... 1942 J -D
89
Mi,7, 90 A u g ’09
39*4 90
1st co n gu ar g 5 s ......... 1937 M-N
116 May Ml7
G ;. 3% s tr c1!di>................1944 J - d
89
90
9034 M ay’09
90*2 9 0 34
S P a c o f N M ex 1st g 6 s . . 1911 J -J
104 A pi ’ Ol­
G u ar 13-25 year g 4 s . . . . 1931 A O
08 *2 Sale
98 *9
98 7i
98*2 100
S o Pao C oast 1st gu 4 s g . 1037 .J - J_ ................. .
id) J T y ’09
88*2 92
Clite M ar 1st gu g 4 4 a .. 1935 M-N 100%
110 J a n ’05
103 O ct '09
T extfeN O S a bD ivlstg6 a.1 912i.M -S ......... 104
102‘.j 103
Cl tfe P g o u g u g 4 % s s e r A . ’ 42 J -J 109%
1 1 0 34 Jan '0 9
1 1 0 % iY o%
Con
gold
6
s...................
1943
J
J
100
98
Vi A pr M)8
S eries B ............................ 19 42 A-O
1099, J ’ l y ’ 00
109*4 10934 - o Pac K B 1st re f 4 s ......... 1955' J-J
93*8
04 ;V
94 *4 Sale
93*4 ” 96**
S eries C 3 % s................... 1948 .M-N
94
97
96 A u g ’09
9*t
96
108 .
S ou th ern —1st co n g 5 s . . . . 1994 J - J 108....riale 108
106 113**
S eries D 3 4 s ................... 1950 F-A
94
07
90 M ay'08
R e g is te r e d ..................... 1994' J - j
......... 108*2 110 M ay’ Oj
109 110*a
E r io & P i t t s g u g 3 % s li.1 9 4 0 J j
94
92 A p r *07
D e v e lo p & gen 4s S e r A . 1956 A-O
79*4
80
79*a
76
85
S e n e s C ............................ 1940 J -J
94
98*4 A p r *04
A lob tfc O hio co ll tr g 4 s ..l9 3 8 'M -S
89
89 •„
89 \
85*2 00 'a
G r B A 1 ex I a t g u g 4 % s l 9 4 1 J -J 104% Sale 104*9 104*9
101*2 104*2
M ein D iv 1st g 4*2-6s...l990| J -J 109
110 *y Sep ’Ou
llO*a I 111**.
P itts F t W tfc O 1st 7 8 ...1 9 1 2 J -J
107
107
107 107
S t E ou is d iv 1st g 4 s ___ 1951 J -J
......... 87*4 89*4 A u g ’ U9
8 7 - h 91
2 d 7 s ................................... 1912 J - J ..........110
110 M ay'09
109 % 110
A la Cen B 1st g 6 s.......... 1918 J -J 1U0*2......... 108 toepM)«
od 7 s................................£19 12 A -0
107 O ct *08
A t l & D an v 1st g 4 s .........1948 J - J
92 *2 Sale
92 *2
92 V,
92*2 92 Vi
Pitts 1 tfe A sh la t con 58.1927 M-N 1 1 0 %
110 F e b '09
i 1 0 *" i i o ”
3d 48 ................................. 1948 J -J
87*2 87*4 02 J ’ n e ’06
107% J ’ly *09 . . 107 % 109*2
P C C t fc S T E g il4 % s A .. .1 9 4 0 A-O 100 % .
A t l tfe Yad lB t g g u a r 4 s . 1949 A-O
83
S e n e s B g u a r ................. 1942 A-O *07%
107% O ot ’ 09 ..i(l0 7 % 109
Col tfe G re e n v 1st 6.3........1916' J •J
io s j” j ’ ne'O
109 HO**
S eries (J g u a r ................. 1942 M-N 107H».
112 *9J 'n e ’ 05
E T V a tfe G a D iv g o s .. 1930 J -J 110*4
l l o ^ O c t ’ 09
10934 1 1 1
S e n e s D 4a gu a r............ 1945 M-N
00 %
100 A u g ’09 ...jllOO 102
C on 1st gold 5 s............. 1956'M-N
114*4
114'4 114;if
110*2 114**
G en es E 3 ^ gu ar g ___ 1949 F-A
»3 % 95 *■ 96 O ot *091
94
98
106
E T e n reor Hen g 5 s.........1938 M -»!
107 A p r ’ Oi
105 107
S eries F 4 s g u a r ..........1953 J -D
99% .
61
Ga M id lan d 1st 3s............ 1946 A-O
64 O ct M)0
65
64
68
C St E tfe P 1st co n g 5 s . 1932 A-O 113*4
j l l 4 J ’l y ,0 9 j .. . .! i l l 4 ii*0%
G a P a c B y 1st g 6 s.......... 1922 J -J 1 1 2 >8
115 O c t ’ UO
L U 3., 117
P en sa cola <fe A t l See E & .Nash
K n o x tfe O hio 1st g 6 s . .. 1925 J •J 115 116*2 118*4 May'09
118*4 118*4
P eo tfe E ast See C C C <fe S t E
M ob <fc B ir p rior lion g 5s 1945. J -J 1 0 5 * 2 ....... 115;*a A p r'0 6
P eo *te P e k Un 1st g 6 s __ 1921 Q-F ..............116
79 ........
M o rtg a g e gold 4 s ........ 1945 J -J
82 Nov'Ori
2u g old 4 %s....................51921 M-N * ..............100 1 0 0 ^ D e ? 0 5 - ' ! 116 110
R ich tfe D an c o n g 6 s ____1915 J -J 107 % ....... 110** J ’ n e ’ U'j
108 V 111
Pere M urq—Clitfe W A1 5s 1921 J -D
105 A u g ’ 09 . . . . 106 106
D e b 6 s s ta m p e d .............. 1927 A-O 106 107
107
107
107 107
F liu t tfe P M g 6 s................1920 A -O ......... 112*2 119 A u g ’ 09 . . . . 1 1 2
116
7 6 * 2 .......
75 O ct ’ OS
R ich tfe A leck 1st g 4 s . ..1 9 4 8 M-N
1st con sol gold o s .......... 1939 M -X 1 0 4 ‘alO G 3* 106 *2 O ct ’ 09 ___ I l 0 4 34 109*2
So Car tfe Ga 1st g 5 s ____1919 Wl-N 103 ........ 103 *8 Oot '00
1 0 i* 2 l0 3 :*8
F t liu r o n D iv 1st g 63.1939 A -O 101 i l l
A u g ’09 . . . . 107 108*2
112 UOl '06
V ir g in ia M id ser C 6 s . . .1 9 1 6 M-S
S a g T u s A i l l s t g u g 48.1931 F -A ____
S e rie s D 4-5 s..................1921 M-S 108*4
108*2 D e c '06
Ph il 11 <te W See P en n HH
I
S o rie s E 5 s .......................1926 M-8 1 07 *4........ 109 J ’ly 'u o
109 109
P h ilip p in e B y 1st 30-yr s f 48*37 J ■J
00
02
93 M ay’ 09 .... 93
06
G en eral 6 s ....................................1936 M-Ni108*4 109 A u g '0 9
107 llOHj.
P itts Ciu tte a t L a e e P en n Co
■
G uar stam ped........... 1936 M-N; ----100*2 M m '09
107*4 109*2
P itts U lovo & T o l See B So O I
i! W O tfe W 1st c y g u 4 s . . 1924 F -A 1 91
96** lan '07
P itts Ft W <te Ch See P en n Co*
I W e s t N U la t con g 6 s . . 1914 J - J
. 107*2 107 O o t '09
107 109*4
P ills M c K e e s tfe Y See N Y C eu 1
ji S tfe N A la See L tfe N
P itts Sh <& E E 1 s t g 5 s . ..1 9 4 0 A -O 114 115% 116 J T y ’ 09
116 110*4 S pok an e In te r n a t 1st g 5s 1955 J - J *105
....
10634 Sep ’ 09
0 6 34 1 0 6 7*
* .......... 116
93% J ’l y '07 ....
1
r
1
’er
A
o
f
tot
E
1st
g
4
*
28
..1
9
3
9
A
-O
1U0%
107
108
Sep
'09
107 Vi 109
P itts tte W est toes B tte o
X 1st co n gold 6 a ....1 8 9 4 -1 9 4 4 F-A 110
J 16*8 O ct '09
115 117
ead m g C o gen g 4 s ........ 1997 J -J
99% Sole
9M7„
99*% 121 08% 101
G en r e fu n d s 1 g * s ......... 1953 J - J 1 97 % ' 93 '
97 V.
97 V,
96
98
R eg is te re d ...................... 1997 J -J
97
98 O ot ’ 09
98*2 100
S t E M B g e T o r gu g o s .1 9 3 0 A-O 108 .
110*4 J ’ ne'09
110*4 110*4
J e r s e y Cen t coll g 4 s . ..1 9 5 1 A O
98 Bale
98
98
13 » «
98 4 ' T « & N O ° ,S « S o P a o Co
P hila tte ltea d cons 7 s . . .1 9 1 1 J-D 103%
102
JLU2
2 iu a 1 0 2 *, T e x <8, P ao l e t golri 8e ........2000 4 - 0 112
113
Sals 112
112 119
R en sselaer tte Sar See 1> tte 11
| 2(1 gold ln o o » ...................o 2 UU0 Al(*r
70
85 A u g ’09
80
65
75
Bicli dfc D an See South B y
103 Sep '09
L a D iv 14 L 1st g 6 a___ .19:41 J ■J l o t
.
108 105
R ich tte M eek See S outhern
W J I i n \ V * N W l s t g u 63 ’ JO If-A *100 ___
106*2 N o v ’04
B io G r W e s t See D en & B io Gr
HI
111
T o l * O C 1st g o s ...............1938 J - J 110 0,11 4
H i
112**
Bocii t& P itts See B B t& P
W este rn O iv 1st g 8 s . ..1 9 3 5 A -O 169*2
.................
1 1 1 *2 112 S o p '09
112 112
R om e W at <& O g See N Y Cent
104*2 Sep ’09
G en eral g o ld 6 s .................1935 J - D , ........103
103*2 105
Rutianu See M Y Cen t
K ail * i f 1st g u g 4 s ___ 1990 A-O
91
92 Hi 93 S op '09
02->4 95
ag T u s <& 11 See P ero M aro
92*2 93i« 93
93*«
T o l P * W 1st gold 4 8 ....1 9 1 7 J -J
86 *4 94 *4
t J o tte G r Isl 1st g 4 s ...1 9 4 7 J -J
90
96% 06
96
5 93
97 i T o l 8 t L«& W p r lien g 30 , 8 .19 2 5 J - J S9«8 90** 9U3® 90 .
89*2 913*
St E tte C airo See M ob tfe O hio
! 60-year gold 4n................. 1950 A-O
80*2
8L Vi
S I Hi Sale
80
88*2
St E <te Ir o n M ou n t See M P I
T
o
r
H
am
A
B
u
ir
i
a
t
g
4
s
./il9
4
ll
J
-D
91%
A
p
r
'09
01% 91%
.
.
.
.
Qt E M B r See T B B A of S t E
| I later& D e U s t c o n g 6 s l 9 2 8 J-D
1U8 A u g ’ 09 . .. . 107 198%
9 t E ou is tte S F — l o n g 6 s .l9 3 1 J - J 122 122% 123% S o p ’09 . . . 122 8)1343.
86
86
„V
l 8t r c f u n d g 4 s . . . ___ 1962 A -O
2 1 86
88*2 86
89
G eneral gold 6a................1931 J - J 109*4
109
109
It) 109 111 ! U n P a o l U t * 1 g r g 4 s ...1 9 4 7 J -J 102% Sale 102% 103% i22 lU2 104%
St E tte to F B B con s g 4 s . . ’ 96 J - J * 91
02 O ct’0 9 ____ 91 SiHVl ‘
H egistered..........
4947 J - J 101*2 Sale 1 0 1 % l o l % 30 10U% 103
G en 16-20 y i 5s ..........1927 M-N
89
Sals
-----8«
393, 110 88
91!>,
2 0-yr c o n v 4 s ................... .‘ 4927 J -J 116% Sale 112%
115% 2(,02 102 124%
S ou th w D iv 1st g 5 a ..1947 A -O 1 0 0 1 ,......... 109>a A u g-0 9 . . . . 1 0 0 ^ 1 0 1
1st * r e f 4a......................g 2 U0 8 M -8
97 *2 34 96% 100
97*2 07
B etu n d in g g 4 s ............ 1951 J -J
84 H, Sale
84
84 »b 84
84 89
98%
98%
98%
5
Si” S’l . t ? » T.
8.48.1940 J-D
09%
K C F L to tte Ai con g 6 s .. 1928 M-N 119 1210, 1 1 0 4 S e p ,0 9 ___ 110*. 120 *«
119
119
119
3 l i 8 ‘a 120%
K C F t to tte M B y rer g 4s 1936 A-O
82
823,
M27.
82 V, 10 82 >. 88
1 s t co n so l g 5 s ................ 1946 J •J 113% Sain 113*4 113%
2 1 13*4 118
KCtte M B tte li l s t g u 08.1929 A -O 100 .....................................i .................
G uar refu n d 4 s .............. 1929 J-D
03 *2 Hale
92%
93% 33 92% 06 %
O z’ rktfe C l i c l s t g u 5 s g . 1 9 1 3 A -O
97 ■« 987. 07 O ct'00
97
98
R e g is te r e d ....................1929 J -D
94 Jan ’00
94
94
St E ou is So See Illin o is Cent
,, HP4.1* * N o r gold 6 s .. 1926 J*J ib 7 %
90% A u g ’09 . . . . 99% 100%
St E S W 1st g 4 s bd ctla .1 9 8 9 Al-N
92
93
92
02*2
92
95
U ni N J i t B A C Co See P a B B
2d g 4 s m o bond o t X s ...p l9 8 9 J - J .......... 85
to43*
8 4 3*
79
- --85
U tali C entral See R io G r W es
C onsol gold 4 s ...................1932 J -D
77*4. 7 7 34. 77**
7 7 *2 ! 7 2 , 7 7 8 1 * 4 ' U tail tfe N o rth See Un Pacltlo
G r a y 's P t T e r l s t g u g 5 s 1947 J -D
94 ......... 101** A p r ’ U7
<[ U tica tfe B lack R See N Y C e n t1
St P a u l tfe D ul See N o r Paciiio
j y am lalia co n s o l g 4 s ___ 1955 F a
98 N o v ’ Ob
S t P A iinn tfe M an See G t N o r
I " era C ruz tfc P ls t g u 4 *231934 J -J
06 O ct '09 . . . . 06
06
dL P tte N o r x'ac See N o r P ao i
|: V e r Val In d tfe VV See M o P |
S t P tte S’ x C ity See C S t P M JfcO
; V ir g in ia M id See South B y
8 A tte A P a ss l s t g u g 4 s . ..1 9 4 3 J -J
. 87 H 88 O c t '0 0 . . . . 88
92®b Vacte S o u tliw ’ t 1st g u 5 8 .2 0 0 3 J -J
UO O o t ’ UU
110 117%
S F tte N P 1st s in g 1 g o s . 1919 J J 104 106 104 O ct '09 . . . . 104 104
07% 90% 07%
la t con s 50-year 5 s ......... 1958 A-O
\ LUO
98*2
2
Sav F <fc W est See A tl Coast E
11 % 1 12% 112%
112% 37 111- r 114%.
Scioto Vai tfe N E See N o r tte W
» J 2d g o ld 6 s ...................1939 F-A luu 102
101% 105
10**4 102*,
7
Seaboard A ir E ln e g 4s . . . i 9 6 0 A-O
89
91 Oct 'O'J .... 63*2 91
D e b e n tu re series B ........1939 J - J
......... iOO J01 J 'l y ’ u'J
86
101
C oll tr refu n d g 6 a ..........1911 M-N
09Vi 90°, Oct '09 .... 9 6 * * l0 0 7e
l a t lien equ ip s Xdg 5 s .. 1921 M-S ......... 101 102% M ay’ 09
102 % 102%
A tl-B irin 3 0 -y r ls t g 4 s .e l9 3 3 M-S
86
86 Sep'09 ... 86
86
l a t lien 50 y r g term 4s. 1954 J -J
8
7
M
ay’
U
l*
87
87%
Car C en t 1st con g 4 s . . . 1949 J -J
93*2 86 *----------‘.............................. 1 l » t r e f a m l e x t g i a . . . ! l 9 5 « J - J
iAy
*74*' Sale
73 %
i 4 422 71% 80%
Fla
1stag ---------------6 s . 1918 J •-J ......
, .Cen
. tte
, P en ---......... 107 *4 A u g ’ OO................................ ... D ettfe
w v^.,,
Ch J
E x t l a t g 6 s .. 1941 J - J 109 *4
110 % A u g’oU
108 111*4
1st land g r e x t g o s . ..1 9 3 0 J -J . . . . . . . . . . . . . . . . . . . . . . . . . J . . . . . . . . . .
D e s A l o i n D i v l a t i r J . ^ i o'iii j . i
M3
91 Vi J ’ n o ’ Ov)
88
68% 01%
C on sol gold 6 s........
1043 J - J m n u
i n a l . M a n n a .............................. ! 77”! " . . . ..r 1:..^ 8 l « 48--.1J*?V J J
7S4, 82
78 J ’ l y ’ o9
78
80
Q a t T ...............
83
00
01 % May’ 09
90
91%
Ga l
......... 46% 45 U ct '09 * 1 0 42
55%
Seab t)
45
Sale
44
46%
Sher s
________
00 41% 65%
........ .......................1054 J*
9% O ct *00 . . . .
<
14%
Sil Sp O ca & u See A tl C oast e I
i
i
T r u s t C o c e r tis .................................
U
71. 14*.
21
8 o Car tte Gu See Southern
W a rre n s e e D el Eac <fe W e st i
S outhern P a cific Co—
|
W a sh Cen t Jiee N o r Pao
G old 4s (C en t Pao c o ll). &1949 J -D
90
90**
0
90
05*2 W ash O tfe W See Southern
B e g is t e r e u ................... £10 49 J -D
9 3 3i A u g '0 9 . . . . 85
0334 W ash T e r m l la t gu J**8..1945 F A
02% 03%
91% 02% J’n e’ 09
20-year c o n v 4 s ..........^1020 M-S
101*2 lo 2 *2 2048 97*2 107
W e s t M aryland 1st g 4 s . ..1 9 6 3 A -O
83% Sale
83%
83% 56 82% 88
Cent P a c 1st r ei gu g 4 s 1940 F -A
96*2
o7
64
G en A c o n v g 4 s ............. 1952 A -O
96*2 9 8 7*
61
69 A u g ’ 09
73%,
R e g is te r e d .......................n> 4 y j,’ . a
9 6 3« Sop '0 9 . . . . 96
97-\
62
68 S e p ’ o9
73
69
M ort gu ar g o l d 3*2 8 ..£ 10 2 9 J -D
89*4 88*»4
80
17 88
34
0
3 »i
"W Va Cen t tfe P l a t g 6 s 1911 J - J
88
»4
93*4
Ll)2
102
J
'
i
y
’
0.;
102
T h rou g h tot E 1st g u 4s '5 4 A-O
03
95 : W e st N Y «& P a 1st g 5 s . . l 937 J - J 111
110 117
9 3 *, 94 O ct 09 . . . . 93
113% 112 % O ct ’ 09
G al H ar tte S A 1 s t g 6 s . . 1 0 1 0 F-A
- ........101*4 A p r 09 . . . . 101 *e 101*4 i G en gold 4a..........................1943 A-O
05%
90% 01 O C t'00 . . j 87
M e x & P a c la t g 6 s . ...1 9 3 1 M-N
34 F e b ’ o?
G U a v « * s I s t ^ ^ :iw jM -N
i o n ! : )r
*
.
:::: i i S
No v
1U3 lo s t * W h o e l’ g A L K 1st g 5a__ f » 2 a A . o
107 % S e p '00
107
109
1 s t gu ar 6 a r e d ........... 1U33 M-N lu d *a......... ludSi A n r’uu ill
lu a t ,1 0 3 t ) | W lie e l D iv la t g o ld 6 a ..1 0 2 8 J - J (
107% 95 J ly '08
H A T G l 8 t g 6 8 i n t g u ..l » a 7 J -J
111) ..........110
o u t ’o o..........l
.
.........
O U ^ im .
K x lo u A Im g gold 6 s . . .11131, F-A
105% D e o ;08
CoiiBol r da in t g u a r . . . m u A-O lU 'J is..........IU7°i N ov ’0 7 ................................
B it lstco U B o l 4s
1*343 M-S
86 % Sep '05
83% 90
G
gold 4s in t gUui.,..x
a r ..lU
2 1 A-O
. ..en -----------------g
(/-j.
op
93
93
1 03
06 I1
99 D e o '08
“ “ Sale
ipi.a f ..
6a . ..1 9 3 2 J -J
97
W 30-year
ban A
.tV K
L-equ
•>
116 D e c ’ OO . . . . . . . . . . . . I . . WlUtOa’
.
' V “ lv 1s t KGs*3U M-N 118 118
HU
nu•
S t 'K
H * ,e
..................... 107H,JAH’0 » . . . . 107 *4 107>« W U A BlonX JP
M A M
!
L a A T !iB t 7 « .1 9 1 8 A O 117*4 120 m > « A u g ’ 0 8 .............................. W i8 U e u t ao-yr l e t gen I s 1*34*3 J -J
04% Sale
94%
06
62 80% 9 8 '.
l a t g o ld 6s...................... 192 0 J . J 114
.1 1 6 N e v ’ OO.............................. l! B u p A D u l ( l i v A t « n n l s t 4 s ’ S8 M-N
92% 03
03
93
9 02% 06
II
lU lS C E E E A N K O U H H O N D S—Concluded.

....

I!

R

S

t)H

no

o'i

2

_1

a*. u

ui0S ^ M * « 6« 5 ! : S

1H3J?**» * H S ^ f e :" : A

"

y

.

86%

J ln n u fn c t n r liig (St In d u s tr ia l
A rm ou r & Co 1st real est 4 Vi8'30 J-D
B eth S teel 1st e x t a i 5 s .. 1926 J-J
Cen t Eeuther 20-year g 6s. 1925 A-O
C orn P r o d R e f s t g 5 s . . . . l 9 3 i M-N
D istil toeo C or c o n v 1st g 5 s .’ 27 A-O
G en E lectric dob g 3Vis 1042 F a
10 - y r g d e b 5 s . . . ; . . . . . : : ; i w i 7 £ £
In t P a per C o 1st con g 6s. lOlv'' F- a
C on sol c o n v s f g 6 s........1035 J - J
I n t S t P u m p 10-yr co n v . 6s '13 J-J
E a ck aw S teel 1st g 6 s . ...1 9 2 3 A-O
N Y A ir B rak e 1st c o n v 6s '2 8 M-N
B e p u b It& S Istife c o ltr 5 s . 1934 A -O
U n ion B a g tfe P l a t s l 5 s . . 193(< J -J
U » i.eath C o s i d e b g 6 s . .l 9 1 3 .vi-N
U S K ealty & I c o n v d e b g 5 3 ’ 24 J - J
U S Red tfe R e f 1st a f g 6 s . 1931 J . J
U S R u b b e r 10-yr c o ll t r d s . ’ l b J -D




93 ** Sale
03
03*2
8 9 1* salt
89
89%
9 8 3, Sale
9a34
99*2
9 6 Vi 9 8 H 98*s O ct '09
7 4 7a 3ah
74*2
75*4
83 A u g ’ 09
......... 83
150 dad 149
160 Vi
106 O ct *09
........... 104 *2
87% Sale
87
87*4
......... 105*4 105 Sep '09
......... 98% 98*4
98%
113 Vi Salt 112*2 113*2
l O l 7# toaito 101% 101 %
....... 05H 96*4 O ct '09
100 106C 106 O ot ’09
«0
01
00
90%
......... 92 3< 02% O ct '0(3
10434 Sale 104Vj 104%
asked this w eek.

643
IU5
91
iYa
' 74
'*30
” 8
14
12
*28
lb®

92% 00%
77
00%
00% 101
05 100
73% 787g
84
80
136 155%
101 106%
85
89%
100 105%
93
90%
108 110%
98 102
91% 08
104% 106%
84% 92
95
89
102% 100

m a n u f a c t u r in g Sc I n d u s t r ia l
U to Steel C o rp — ( c o a p .cfl9 6 3 M-N
SI 10-60 y r & s . j r e g . .d l 9 6 3 M-N
Vu-Car Chum 1st 15-yr 6s 1023 J-D
W estin g h ou so E A M s 1 5 s '31 J .J
M is c e lla n e o u s
A dam s E x c o l tr g 4 s ......... 1948 M-S
B u sh T erm in al 1st 4a. ...1 9 5 2 A-O
C o n s o le s ............................ 1055 j . j
C h ic J o <fe t Yard c o l g 5 s . 1915 J -J
D e tM tfe M Id g r in c o m e s .. 1911 A-O
1n s t i t f o r I r r lg W k s 4Vi8 1943 M-N
l u t M erca n M arin e 4*2S..1922 A -O
l u t N a v ig a tio n I s t s f 5 s . l 9 2 9 F-A
N e w p N o Ship tfe D D 5 s d l 9 9 0 J -J
N Y D o ck 50-yr 1st g 4 s . . 1951 F-A
P ro v id e n c e S e o d e b 4 s . ...1 0 5 7 M-N
P ro v id e n t Loan tooo 4*23.1921 M -S
SJXuba W a t C o c o n g 6 a . . l 0 2 3 J - J
<i D ue A p r

e D ae M ay

g D a e J ’ ne

105

Sale

........

*97% Sale
94% Sale

105
104%
97%
94%

105% 1252 1 0 2 %
105%
1 10 1%
97% 23 03%
95
33 00%

02% Sale
02%
92%
00
91% 90% J ’l y ’ 00
95
9 O'* 9 6% O ct *09
100 J a n ’ 08
106
38 % O ct '09
38
06
95
06
70% Sale
o y “»
7o>4
84 O ct ’00
82
81
06 Aug ’ 08
05
94%
94%
94% 94
90 Jan ’ 00
86%
95 J ’ ly '0 0
112 J ’ l y '04

_2
1,
34
3

....

108
108%
100
96%

92
04
00
93%
91*2 90%
38%
92%
68 %
84

**38%
06%
77
88%
05%
90
08

OHIOAG-O STOCK EXOEA.NTTS— Stock Record— Daily, Weekiy and Yeariy
STOCKS— HIGHEST A N D '.OWEST SACK PRICES
Monday
Oct. 25.

Salurdau
Oct. 23.

* 1%
*5
*107
*35
*23
*9
7%
*39
*8034
♦17
51
*

.

2
* 1%
10
*5
108 *107
*35
36
*23
24
10
*9
7
7*2
41
*39
*803.1
81
18
*17
*50
51
20

*

__

*67
68
*67
51
51>4 51%
4414 44
44
103 *102
♦ 102

2

10
108
36
24
10
7%
41
81
18
52
20
68
61
44%
103

12
8138
____
131%
67
HOI2
140%

11»4
81
*214
*130
*65
*109
140

115g
12
81
81%
____ 217
132
132
*65
67
11012 111
13978
140

*2234
637s
*52
*1
*2
*31
♦ 13612

23
64
61
U8
3
32
137

2212
6312
*52
*1
*2
31
13612

22%
23
03%
03%
*52
54
*1
1%
*2
3
3212 3212
13612 *13512

10

113%
*125
*9512
120 *118
11512 11412

117
126
08

1178 117s
12%
12%
823S 8212 82%
82%
*214
____ 225% 225%
13*2' *130
____
O ct’09
Last Sale 67
67
*109 111
14014 14034 14034 141% 141%
June’09
Last Sale 3
June’09
Last Sale 1
2234 2234
23
23
2234
23
63%
63%
63% 64
6334
6312 6312
O ct’09
Last Sale 54
54
54
*52
July’09
Last Sale 1
U8
1%
July'09
3
Last Sale 2%
3
*2
38
39
34
3412 35%
37
39
13612 136 136
136 136*2 136% 136%
Mch’08
Last Sale 2%
145
146
146 146 *146 148
110 12 11012 119'2 119!2 11912 119% 119%
21 %
2034 2034 21 %
2034 2012 2012
Last Sale 86% Oct'09
127
12634 *12614 127
126>2 126% 127
6434 6534
64
6478
6414
60l2 61
O ct’09
Last Sale 45
.
*43
Last Sale 2% June’07
June’09
Last Sale 21
115
115
114l2 11412 11412 *114 115
125 *125 126 *125 126
*95
97
98
97
97
120 120
120 *117 119
11434 11412 11434 114*2 114*2 114% 115%
Last Sale 11-10 Mch’OO
143 144
142
142%
13734 137 143
120'4 120U 120% 1207S 12078 120% 12078
108% 108U 10812 108 10S3S 108% 108%
Last Sale 7
Feb’09
O ct’09
Last Sale 148
150 *146 150
10212 *102 10212 102 10212 102 % 102%
Apr’09
Last Sale 1%
Apr'09
Last Sale 3
Apr’09
Last Sale 734
15%
15*4
15% 1538
15
15%
15'4
Sep’09
Last Sale 20
*18
19
19

11%
8112
217 *214
132 *130
67
*65
111 *110
13978 139'2

15U
*18

150
102

*146

126l2
59%
*43

*146

10112 102 % 102

15U
153g
*18
19

111

*1

115 *113
125
126
97
97%
120 *118
114% 114U

150

11'2
82

2212

135
131 136U 13212 135
120% 1203g 120 % 120 l 2 120'4
IO8I2 10 S12 1083S 10834 108'4
*147
102

Sales
ol the
Week
Shares

*H 2

12
8 H2

*146 148
HO' 2 110 % 110 12
2034 2034 2034
2 U 2 2112

*116
*125
*95*4
*118
114%

Friday
Oct. 29.

*5
103 *104
35
36
*23
24
*9
10
638
7%
*40
41
8178 82
1612 *16
51
52

146 147
*11912 120

127 127
59% 60
*43
...

Thursday
Oct. 28.

A pr’09
Last Sale 180
O ct’09
Last Sale l l 2
2
Oct'09
Last Sale "
10
11
106 *105 108
132
35
3 5 '2 35
Last Sale 24i2 Oct'09
24
10
" l2 5
10
812
8'2 10
2.943
634
7
7
6% 7
O ct’09
Last Sale 40
41
* '8 0
82
*81
82
81
81
10
*16
17
17
S ill
6*1%
373
51
5 II4 51
Aug’09
20
Last Sale 20
20
Aug’09
Last Sale 70
♦67* 68
*67* 68
221
52
62
52
*50
52
52
*51
*51
467g
47% 2.865
453s 46
46'4 47
4414 45l4
10
102 % IO2 I4
*102 103 *102 103

2

*U 2
*5
103
*35
*23
*9
6
*40
8H2
1612
*50

12
81%
*214
13H2
*65
*109
140

127 127
5912 60
♦43
...

Wednesdau
Oct. 27.

Tuesday
Oct. 26.

1538 15
*18
19

Inter­
est
Period

Price
Friday
Oct. 29

F - A
J -D
A - O
F J J F J J F A M-

...__
_____
_____

A - O
J
F
A
J
F
F
F

-

MMJ I\\ J -

A -

AV-

AV j

-

85
J (8*4*
A f 100% Sale
O (95
96
D (35
Sale
A (91% Sale
A (io i
10 1 %
A ....
(101
____
N
S
D (102% Salo
S 102% sale
J
O (101% 101%
S
S 102 % Sale
n
...................

AV- N
A - O

J - J (80
Feb

84
------ ---------

F - A (33
J - J (81

MQ AV J MMMA MJ -

Sale
8134
93% Sale
S
M
N (95
96
____
D io o
9034 ____
S
N
98
____
N
____
99
O t ------ 121
S (103% 1033s
J ( 104% Sale

J - D
MJ J A -

D'ds
Sold

N ( ------ 102%
J 9 434 Sale
J (109 190%
O (90
93
AV N
(76
Sale
j - * j (76 78
A - O ------ ---------

93%

102 J’no’09
101% Oct '09 ____
100 M ay’07
10234
193%
73
103 Apr'01
50 A pr’09
9034 Jan'06 —
'8 7 * Foh’ OG
85
6
109-% 19034
95% Old’ 09
85
&514
91%
91%
101%
101%
101% July’09
101% Oct ’09
661- Aug’08
06% July’08
102%
1027s
102%
102»4
100
Jne’08
100-% Oct ’ 09
100% Aug’09
102%
102%
80 D cc’OS
98*4
96
99
10

Range
lor
Year 1909
Low High

_

A
J __________
D
A (103% Sale
J
D
A ------ --------O
S —

Feb
4 Jan 22
15 Jan 22
119% J ’ly 28
4534 Jan 2
30 Jun 29
13% Jan 2
29% Jan 2
62 J ’ly 7
86% M ay 18
19 M ch 8
64 J ’n c 3
25 M ay 6
73 M ay 7
61 M ay 7
6134 J ’lie 19
107% J ’n e 18

160 Jan
1% Feb
Gi»Dec
84% J'ne
38 O ct
20 N ov
934 Sep
16 F eb
30 O ct
68 Sep
12% N ov
42 Jan
1334 Aug
46 Aue
42 A u g
26% A p r
85 A p r

185 D ec
3% A ug
10 A u g
119 N o v
47 J ’ ne
28 Deo
13 % D eo
30% D eo
4734 N ov
86% N ov
19 Jan
54 M ay
22 D ec
62% D ec
71 Jan
31 N ov
10 J J'ne

14% May2i
7% Jan 30
86 J ’ne 4
71*4 Jan 6
200 Jan l i 225% O ct 29
126 Jan 21 132 J ’ly 21
6 734 A u g 7
64% A p r 21
101 F e b 24 112 Sep 13
139 A u g 7 14434 Sep 28
1 Jan 2
% J ’nelO
5 Jan 5
% M ay22
27 A u g 26
10 Max 24
48 J ’nelO
66% O c t 18
68 A p r 10
61% Jan 8
1 A p r 2/
1 A p r 27
2% A p r 27
2% A nr 2
39 O c t 2 s
20 Mch24
127 Jan 4 140 S ep 23

4 Feb
41% Jan
125 Jan
116 A pr
37 Mch
91 Jan

1!)38 N ov
767js D ec
200 D ec
128% N o v
03 N o v
104 N o v

180 Mrh 8
1% O ct 22
5 O ct 21
103 O c t 26
35 O ct 27
24 S ep 7
8% O ct 28
434 O ct 7
35 F e b 24
79 Jan 8
15% Sep 13
47 Jan 14
20 A u g 11
63 „a n b
60 Jar. 25
29% A p r 13
97 F e b 15

190

117 Jan is
107 Ja;: 21
17% F eb 25
70% Meta 25
117 Jan 9
38 Jan 26
43 Jan 5

162
121%
25%
88%
13034
6 o34
47

O ct
J ’ly
Aug 3
M ayl9
A u g 13
O ct 29
Sep IB

20% A p r 27
97% Jan 2
118% F e b 15
82 Jan 14
110 Jan 15
102 Jan 5
% Feb 25
55 Jan 5
101 Jan
100 % Jr. 7
6 F eb
119 Jan
9812 Jail _
% F e b 19
2% F eb 26
334 M chlO
10% Mch u
15 F e b 16

21 J ’n e 28
119% Sep 27
130 S ep 21
100 O c t 1
120 A p r 1
11978 A u g 16
1 M--H40
144% O ct 20
12134 O ct 2,.
114% A u g 6
20 Jan 18
152 J 'ly 28
103% A u g 12
1% Mch 26
3% Mch 2
yi->Jan 4
16% O ct 1
25 M ch 15

3

’% D ec
D ec

3b
100

Jan
M ay

O ct
N ov
20 D ec
106 Jan
s4 Feb
100 Jan
80 Jan

67% D ec
1% A u g
4 Apr
30% A u g
153 Sep
2% F eb
116 D ec
110 O ct

113
30
38

13/ A u g
42% D ec
46 J ’ly

Jau
Jan
J ’m

19 J ’ ne
70 Jan
10134 Jan
61 Mcl
91 M ch
80% Jan

20
97
120
87
115
106

J ’ ly
D ec
Aug
D ec
N ov
D ec

24 Jau
72 Jau
88% Jan

56 D ec
102 D ec
10634 Sep

U 4% "jan
87 Jan
% J ’i y

134 Jan
ICO J 'ly
1*4 Jan

1 % J ’ly

12

Jan

1134 Oct/

17

Apr

Chicago Banks and Trust Oompinies

Ask Low
II igh No.
100 Mch’07
931- Oot ’ 09 —
...................

/lid
A m c r S t r a w b ’ u 1st 0 s . 1011
A r m o u r & Co 4 X S - - - 1 9 3 9
A u rora E lgln& C hlc 5s 1941
Cal <5c So C h ic R y Co
1st M 5s....................... 1027
Cass A v & F G (St L) 5s ’ 12
C h ic B oa rd o f T ra d e 4 s l9 2 7
C h icago C ity R y 5s___ 1927
C h ic C on sol Hr <Sn M lt 0 s . _ .
C h ic C on sol T r e e 1 Ms 1959
C h ic A u d lt o r lu m ls t 5 sl929
C h ic D ock Co 1st 4s__1929
C h ic J c U R 1st M g 5 s . 194
C h ic N o S hore E lec 6 s .1912
C h ic Pn o T o o l 1st 5 s .a l9 2 1
Chic U y 5s........................1027
C h ic R y s 4-5s series “ A ”
Ohio R y s 4 -5s series “ B ”
C h ic R y s 4-5s scries “ C "
Chic R y s coll 6s___ 1913
C ldc R y s F u n d 0s__1913
C h ic R y s Tern Ct7s 1st 5s
C ldc R I It P R R 4 S ..2 0 0 2
C ollat trust g 5s— 1913
C h ic T elep h on e 5 s . .1 9 2 3
O om m on w -E d is on 5 s . 191
C ldc E d ison d eb 6 s . 1913
1st g 5 s . . __J u ly 1020
D eb en tu re 5 s . . . . 1 9 2 C om m on w E lect SsblOT.’'
Illin ois T u n n el 5s— .1 9 2 8
K a n C ity R y & L ight
Co 5s . . . . . . . . - - - - 1 9 1 3
K n lc k ’ b ’ ker Ice 1st 5 s .1928
L a k e St El— 1st 5 s . . . 1 9
In c o m e 6s___ . . . — 1925
M otr W S ide El—
1st 4 s_______________ 1933
K xton slon g 4s____ 1938
N orth W est El 1st 4 s . l 9 1 t
N o W U -L & C ok e Co 5s ’ 28
O gd en Gas 5s_________1045
P e a rs o n s -T a ft 5s______10 10
4 , 4 0 s _________________
4.60s Series E ________
4.80s Series F _ _ ________
P c o Gas L& C 1st 6 s . . 1943
R e fu n d in g g 5s____ 1947
Chic Gas L& C 1st 5 sl037
C onsum Gas 1st 5 s . 1936
M u t’ l Fuel Gas I s t5 s l9 4 7
S ou th Side E lev 4 M-5-1024
S w ift & Co 1st g 5s— 1914
U n ion El L oop ) 5 s . .1 9 4 5
U n ion P a cific c o n v 4 s .l9 1 1
U n ited B o x B oard co l 6s’ 26
G eneral m tgo 0s----------W estern S ton e Co 5 S ..1 9 0 9

Week's
Range or
Last Sali

I ’ ighest

Highest

R a ilroads
C h icago C ity B y ______100
C h icago & O ak P a r k .100
D o p re f_____________100
C h ic R ys p art c tl
Chlc R ys part c tl ” 2’ ’ ----C h ic R ys part c tf “ 3” ___
Chic R ys part c t f “ 4 " ___
C h ica go S u b w a y . . . __100
K a o s C ity R y & L t -.lO O
D o p r e f___________ .1 0 0
M etrop ol VV S E lev__10 0
D o p r e f_________. . . 1 0 0
N orth w estern E le v ___ 100
D o p r e f_____________100
Sou th S ide E le v a t e d ..1 0 0
Streets W Stable C L .1 0 0
D o p r e f___________ .1 0 0

/M iscellaneous
1,390 A m erican C a n ______. . 1 0 0
965
D o p r e f_____________100
15 A m erican R a d ia to r __100
21
D o p r e f _____________100
A m er S h ip b u ild in g ___ 100
**25
D o p r e f_____________100
903 A m er T e le p & T e le g ____
B ooth (A) <5c C o ______100
D o p r e f_____________100
1,312 B ooth F isheries c o m ____
1,086
l)o p r e f ________________
Cal & C h ic Ci.nal & D .lO O
Chic B rew ’g & M alt’g ___
D o p r e f_____________
1,675 Chic P n e u m a tic T o o l .1 0 0
83 C h icago T e le p h o n e — 100
D o r ig h ts__________
*162 Chic T itle & T r u s t___ 100
215 C o m m o n w ’ t h -E d is o n . 100
825 Corn P rod R ef Co C om —
Do
D o P r e f___
*135 D iam on d M a tch ---------100
4,718 Illinois B r ic k .................. 100
M asonic T e m p le ______
Mllw & C h ic B rew in g..
D o p r e f____________
90 N ational B is c u it______100
D o p r e f____________ 100
28
110 N ational C a rb o n ---------100
D o p r e f_____________100
18
995 P e o p le ’sG a sL 3cC ok e-_10 0
D o rig h ts _________
8~717 S e a rs-R o e b u ck c o m . . 100
D o p r e f_____________100
371
1,620 S w ift & C o ....................... 100
D o rig h ts _________
T h e Q uake - O ats C o . . 100
D o p r e f_____________100
U nit B o x B d & P C o . 100
D o Full p aid -----D o p r e f_____________100
D o Full pa d ____
1,800
W estern S to n e _______ 100

Chicago Bond Record
BONDS
C H IC A G O S T O C K
EXCHANGE
W eek ending Oct. 29

Range ,or Previous i ear
<1908)

Rarv)t sine.
Jan 1 1909

STO C K S
C H IC A G O ST O C K
EXCHANGE

—
1
37
4
6
1
____
____
____

__

96%

102 102%
101 101%
_.
1023.1 105
60
60
...................
...................
72
85
100% 10234
93% 96%
84% 89%
89
92%
101% 10238
101% 1023s
101 102%

—

. - - ____
10234 10334
101 103%
_.
100% 10134
100% 102%
102 103%
..................

J’no’09
Mch’09
July’09
M ay'05 —

98
0834
95
96
73
91
...................

3
10

__

____
6

83
83
0
81% Sept’ 09 ____
93
93% 155
98% A u g’Oj
95
95
11
100% Mch’09
97 Mch’09
98 J'ne’09
100 Mch’09
121*4 M ay’09
1031* O ct. 09 ____
11
104%
104%
102% Oct ’ 09
102 Aug'09
8
93%
94*4
100
100
3
95 J’ne'09
114 N ov’04
76
76%
23
73 Sep ’09
85% July'OS —

__

83
81%
92%
98
93
100 %
96*4
98
100
120
103
IO334
102
101%
93%
100
92

86* 2
84%
96%
99
9.8
100 %
98
99%
100%
122
104
105
10234
102
9634
102
96

70
80%
70% 81
...................

N AM E

Outstand­
ing
Slock
T

Surplus
and
Fro/Us
t

$39,06$100,009
C alum et N a tio n a l______
186,242
500,009
C h icago C it y ____________
s C om m ercia l N a t io n a l. 7,000,000 3,343,646
C on tinental N a tio n a l___ 114,000,000 3,903,090
8,98C o o k Co S ta te S a v in g s ..
50,000
Corn E x ch a n g e N ational 3,000,000 5,283,593
27,714
200,000
D rexel S ta te ____________
409,369
600.000
D rovers’ D ep N a tio n a l.
200,000
31,905
E n g le w o o d S ta te _______
First N a t io n a l -------•------- 8,000,000 8,220.177
162,1)8
150,000
F rst N at E n g le w o o d ___
542,865
Corem tn B ros B ’ k 'g C o . 1,000,000
418,357
F ort D e a rb o rn N ational 1,000,000
152,092
500,000
H am ilton N a tio n a l------807,640
H ibernian B ’ k ’ g A s s ’ n . . 1,500,000
121,561
200,000
iCaspar S ta te B a n k ------432,415
L ive S to ck E x ch ’ ge N at 1,250,004
03,864
300,000
M onroe N a tio n a l_______
N at Bank o f R e p u b lic __ 2,000,000 1,134,917
609,923
1,500,000
N ational C it y _______ . . .
09,480
250,0019
67,612
N orth A v e n u e S ta te ___
200,000
15,919
N orth Side S ta te S a v ’ gs
50,000
8,959
N orth W e s t S ta te _______
200,000
70,677
250.000
49,940
Prairie S ta te ____________
500.000
12,173
R a ilw a y E x c h a n g e ____
250,000
300,000
153,426
S e c u r i t y ________________
78,211
South C h icago S a v in g s .
200,000
S ta te B a n k o f C h ic a g o __ 1,500,000 1,465.411
250,000
174,589
S to ck Y a rd s S a v in g s ___
46.883
U nion Bank o f C h ic a g o .
200,000
65,310
U n lon S tock Y a rd s S tate
200,000
A m erican T ru st •& S a v s . 3,000,000 2,755,558
812,439
Central T ru st Co 0 ^ I I I . . 2,000,000
89,160
noOO.OOO
’ h lc a ;o Sav BU & T r ___
C h icago T itle & T r u s t . . 5,000,000 rl,373,397
5,331
60,000
htizeiis T ru st & Savings
506,G21
GOO.OOO
Colonial T ru st & Savings
97,307
200,000
D rovers T ru st & Savings
215,582
1,500,000
F ir it T ru st & S a v in g s .. 2,000,000 2,990,694
10,254
200,000
G u aran tee T ru st & S a v .
Harris T ru st & S a v in g s . 1,250,000 1,140,079
Illinois T r u ;t & Savings 5,000,000 8.207,291
200,000
44,201
K e n w o o d ir u s t& S a v g s .
200,000
LakeV Iew T r istC S a v g s
39,045
M erch ants’ L oa n & T rC o 3,000,000 5,036,106
750,000
M etrop olitan T ru st& S av
243,819
1,500,000 2,123,341
N orthern T ru st C o _____
55,011
200,000
N o rth -W estern T r& S a v .
200,000
100,964
P e o p le ’ s T ru st & Savgs .
500,000
183.263
P u llm an T ru s t & Sav -s .
200,000
22,378
Sheridan T r & Sav Bank
S to c k m e n 's T ru st <Sc Sav
200,000
,651
U nion T ru st C o ________ «1,000,00'J 1,263,035
W estern T ru st& S avin gs 1 ,000,oot
201.66U
W est Side T r & S a v B a n 'i
200 ,oot
64,801:
38,514
W o o d la w n T r& S avB r.n k
200.000

Dividend Record
1907

in
1908
vi
10
____
8
6
12
6
O'A
G

P erICki

Ail
j-J
____
8
Q-J
Q-.U
6
12
Q-T
A-li
0
Q-J
8
6
Q-J
12
12
Q-M
10
10
Q-M
Prlv ate Ba nk
3
8
Q-J
5
J-J
5
8
8
Q-J
10
J-J
10
____ 1 0 + 2 Q-M
4
4
Q-li
8
3
Q- 't
3
____
Q -p
0

10
__

Last raid.
%
Dec '08, 6
July ’09, 5
Get. ’09, 2
O c t. '09, 2
July '09, 1%
Oct. '09, 3
O ct.' 09, 5
Oct. '09, 2%
Oct. '09, 1%
Sep30’09,4
8ep 30'09 2%

0

m
G

Oct. '09, 2
July '09. 2%
Oct. '09, 2
July ’09, 5
Sep 30'99,2%
Aug 1 '09, 1
Oct. '09, 2
Oct, ’09, 1%
Oct. ’09. 1
Q -i Oct. '09, 1%
Q-J Oct. ’09, 1%

8
4

8
2

Q-M Sep '09. 1%
____ Jan '08; 2

__

6
Q-J Oct. 'U9, 1%
11
Q-> Oct. '09. 3
7
J-H Sep30’09, 2
G M-N May '09, 3
6
Q-J O ct. '09. 1%
Q -l July ’09, 2
8
Q-J Oct. '09. 1%
7
I K Q-J Oct. ’09, 1%
0
Q-J’ Oct. '09, 1%
4
A-Ui Oct. ’09. 2
8 *t“ 2, Q-J Oct. *09, 21*
Q-J Oct. '09, 2
Q-J Oct. ’09, 1%
____
____ Q-M Sep 3 0 ’09, 4
Incorp orated/ 1901; V .87 ,p .1138
____
6
Q-J> Oct '09, 2%
1 6+ 4 10 + 4
n Oct. '00. 4
C
6
Q-J Oct. '09. 1%
2
4 M Q -J Oct. '09, 1%
12
12
Q -J Oct. '09, 3
6
6
Q -J 3cp30'09,l%
8
8
Q -) Oct. '09. 2
6
6
J-J July '09, 3
6
6
Q-J O ct' ’09, 2
8
*8
Q-J Oct.. '09, 2
Beg. b us.J'ij* 1 2 ’d 9 V .89,p.141
O
j -j luiy '09, 2%
6
G Q-M Sep 39'09. 2
c
0
Q -L Oct. '09, 1%
Began bustn ss So pt 5 1908
Q-J Oct. '09. H*
6
6
6
9+ 1
G
6
0
8
7
___6
3
10
6

Do a d d e d t o r.r C h 'c a g o b onil ■prices.
• B id e n d asked p r lce j, n o sales were m ad o on this d a y .
T Sept. 1
. --------------- - - In stitu tion s.
( N o p Ico F riday: latest price this w eek . a D u o D ec. 31.
ftDuc Jun e . k
bo Increased. //D iv id e n d ; aro paid Q -J w ith e xtra p a y m e n ts Q -F .
r A i o f date A pril 29
u n d er n am . of C cm m eroia N ationa l, w ith 3 7 ,0 9 0 ,9 9 9 cap ital; V. 39. >>. 571. : Canitai to .>.




------------ --------------------------- -■ . . . ---------,
A lso s to c k d iv id e n d o f 33 1 - 3 % . nCapItat a n d surp us t o
1909.
s B ankers a n d C om m ercial N ation a l banks m erged
Increased.

BOSTON STOCK E X C H A N G E-S tock Record. Daily, Weekly and Yearly
SH AR E PRICES— NUT PER CEN TU M PRICES
Saturday
Oct. 23

M onday
Oct. 25

Tuesday
Oct. 26

Wednesday
Oct. 27

Thursday
Oct. 28.

Friday
Oct. 29.

Sates
ol the
Week
Shares

102




Highest

Highest

R a ilroads
98 Jan 13
469 A tch T o p & San ta F e .1 0 0
119% 120 * 12014 12012 *119% 120% 120=8 121% 121% 123% 122*8 122%
•10378 104% 103*s 104% 103*2 104*2 103% 103% *103% 104% *104% 105%
7
D o p r e l____________ 100 )0034 Jar. 15
228
228
78 B oston & A lb a n y ____ 100 225 Jan 4
229 229
228 228
228 22 S'3 228 228
228% 229
131
130% 131 *130
205 B oston E le v a te d ______100 124% Jan t
130% 13012 13012 13012 131 131
130% 131
* ____ 229 * ____229
...
* ____ 229
. . . *228
11 B oston & L o w e ll_____ 100 224 Jan 12
228 228 *228
150
1501
15034 151
172 B oston & M aine_____ 100 132% Jan 2
*150 151
150 151
150 15012 150 150
____
D o p re f_____________ 100 151 F e b 26
Last Sale 152 July'09
295 S ep 14
O ct’09
Last Sale 299
------ B oston & P r o v id e n c e . 100
*299 300 *299
____ *299
*299
1134 Jan 2
*18
181
18
18i2
506
B
oston S u b u rban El C o s .
18%
18i2 19
18%
18
18*4
75*
*7*5*
*74
75
7434 75
60% Jan 5
74% 75
649
D o p r e f________________
74
7434
74U 74*4
11
11 * ____
12
11
11
*10
13
76 B o s t o n * W o r E lec C o s __
10 M a y lo
♦ 11
12
*11 12
64
63
53
62 Jan 5
*53
54 * ____
50
D o p r e l________________
*50
64 * - . - 64 * ____ 54
9 Chic Ju n e R y & U S Y .1 0 0 143 .’ an 25
155 155
71
D o p r e f . . ....................100 116 MchlO
117 117
117 117
Last Sale 170 July’09
------ Con & M on t, Class 4 . .1 0 0
170 Jar. 26
Last Sale 139% June’09
------ Conn & Pass R lv p r e f - 100
139 Jan 2
Last Sale 270
O ct’09
------ C o n n e cticu t R iv e r ____ 100 267 Jan 15
132
132
129 130 *130 132
129 130
115 F ltch b u rc. p r e f_______ 100 129 J ’ly 29
130 130
130 130
99
*99
99%
10 Ga R y & E le ctric____ 100
76 Jan .>
*9812 9912 98% 98% *98
100
* ____ 9912
87
87
87 * ____ 88 * -----*86
88
14 D o p re f_____________ 100
79 Jan It
* ____ 85
"id * 86
Last Sale 195
+198
O ct’09
------ M aine C en tral__________ 100 195 O ct t l
16*4 *17% *17
17%
1634 17
17%
17% 1,035 Mass E le ctric C os____ 100
11% Jan 12
17
17
17
17
80
80%
80*2 80%
495 D o p r e f_____________ 100
80% 81
80%
81
68% Jan 15
*80
*7934 81
162 169
168 170
163
1631= 1,993 N Y N H &H a r tfo r d . 100
157 Jar. 21
169 169*2 168*2 169
169 169
Last Sale 149 Aug-09
____N orthern N H __________ 100 146 F e b 4
210 210
2 N orw ich & W o r p r e f-1 0 0 200 A p r 13
Last Sale 2 o5*" Oct"’09
* ____ 200
200
____O ld C o lo n y ____________ 100 194 Jan 6
* _____ 200
26 A p r 27
34
34
5 R utland p r e f______. .1 0 0
00% M ch 2
175 Seattle E le ctric_______ 100
113% 114% 1141*2 1*14% 115* 1*15%
*11312 114*8 *11312 114% *11312 114% :___
97% A p r 5
46 D o p r e f_____________ 100
104
103 103
103*4 * ____ 104 * ____
*103 104 *103 104
1,522 U nion P a cific ............... 100 il727g Feb 26
202
197*4 200% 198*4 19812 19738 2007g 199* 19934 199% 200% 202
03% Mch 2
20 D o p r e f_____________ 100
*10178 10278 * 10218 103% 103% 104% 1025g 102=s * 102 % 103% *103% 104%
Last Sale 172
O ct’09 ____V e rm o n t & M ass_____ 100 165 Jan 20
88 Jan 2
40 W est End S t .....................50
92% 92% *92
93
92%
93
94
*93
94
93
93%
*93
O ct 12
67 D o p r e f______________ 50
103
103
104 104
*104 105 *104
103% 103% 103 103
144 M ch l2
Last Sale 145 July-09 ____ W o re Nash & R o c h -.lO O
M iscella n eou s
33% Jan 2
4634
940 A m er A gricul C h e m ._ 1 0 0
45% 46%
45*4 45*4
45*2
46%
45
45% 45%
45*8 45*2
94 Jan 18
102
102
740
D o p r e f____________ 100
10 1 101
102 102
100 i o n 2 101 101% 10034 101
87g
87S
8S4
9
8*4 87S
756 A m er Pneu S e r v i c e .. 50
884
6% Jan 26
8%
*812 9
8*s
8*2
2134 22
21% 2134 22
22
617
D o p r e f........................ 50
13 Jan l:i
2112 22
2 112 21%
2U 4 2 1 *
132 133% 133
134% 1,976 A m er Sugar Retln____ 100 121% J ’ ne22
130% 131
130% 133
129*4 12934 12934 130
127
127
341
D o p r e f...................... 100 120 J ’ ne2b
126 1263g 1263s 12634 126 127
126 127
127 127
13978 14012 1397g 14038 139 140% 139% 140% 140% 141
140% 1413s 7,991 A m er T elep & T e le g .-lO O 126% F eb 1
35*4
*34%
36
145 A m erican W o o le n ____ 100
27% F eb 4
35% *3434 35% *35
3334 36
35
36*2
*36
10234 103
103
93% Jan 15
103
10212 103
102% 103
823
D o p r e f...................... 100
10234 103
102 103
334 Apr 1
200 B oston L a n d ___________ 10
8%
*7%
8%
812 *7*2
*7%
8% *7%
8*2
8%
*7*2
8*4
28 C u m b T elep & T e le g .1 0 0 125 Jan 25
*146
. . . *140
*1453j
____ 147
147
*145 146 *146
18% Jan 11
311 D om inion Iron & Steel__
59
557g *6*6% 57
67
*56% 67% ♦58%
*55
56*4
10% 13,875 East B o sto n L a n d _______
7 Jan 4
10% 1034
10% 10%
10%
12
9
9*2
9%
912 " 9 "
29 Edison E lec Iliu m ___ 100 245 Jan 2
252 252 *250 252
252 252
252 252
252 252
145 General E le c tr ic ______100 I503g F e b 24
163* 1*6*3**
162 162
161 161
161 I 6U 2 160 160
74% 2,519 M assachusettsG asC os 100
59 Jan 5
74% 74% *741*4 *7*4*38 74%
7434
74
74*2
75
75
74
288
D o p re f....................... 100
93
93
93
937g *93
94
8.J Jan 5
95
9412 9334 94
95
94
67 M ergenthaler L in o ___ 100 102% Mch 12
215% 215%
> 212
215
213 213 *213 214 *213 215% *214 215
192 M exican T e le p h o n e .. 10
2 Jan 5
+234 3
3
3%
3
3
3
3*4
3
« *3
68 A p r 24
1.650 N E C o tto n Y a rn _____100
122% 122% 122% 124% *122* 1*2*4*
125
118 118
119 124*2
03 Jan ■;
252
D o p re f____________ 100
* ____ 115*2 115 115*2 115l2 116
116
116 116% 116 116% 118
197 N E T e le p h o n e ..............100 126% Jan 5
135
134 134% 134% 13434 135
*134*2 136
134*2 13412 134*2 135
76 F e b 6
t
_ 107
* ____ 107
102 102 *
_____________103 10 P acific C oast P o w e r ..1 0 0
107
150 P u llm an C o ___________ 100 168 Jan 30
i9134 19134 191 191% 194 194 +193* 194
192 192
i o l * 191
9*4 Jan 11
45 R eece B u t t o n - H o le .. 10
*11
11
11
11%
11
* 11
11
11
11%
111
11*2 * 11
613 Sw ift & C o ....................... 100 100 Jan 9
103 108% 108% 108%
108l2 108% 108*4 10834 108% 1081
20% May21
86 T o rrln g to n , Class A __25
2434
2412 2412 2434 2434 24% 24% *24% 2434 24% 24% *24%
24% Jan 29
30
D o p r e f_____________ 25
.
♦27
*27
____
*27
26*2 26% * 2 6 % ____ *27
1 Jan 26
O ct’09 ____U nion C op L ’ d & M ’g . 25
Last Sale 1%
235 U nited F ru it...................100 120% Jan 13
162 163% /il49
149
164 165
163 163% 163% 164
164 1641
x54 M chlO
69*4 3,830 Un S hoe M ach C o rp __25
68% 6834
68%
68*4 69% 69%
68*2 683,i 6812 68% 68
28% Jan 11
1.399
D o p r e f_____________ 25
30%
30
30
30
30
30% 3038 30
30*4 3012 30% 30%
4i34 F e b 21
8678 89*_
88% 89% 89*4 91 36,325 U S Steel C orp _______ 100
863s 877g
86% 88%
87*8 89*s
335
D o p r e f____________ 100 107 F e b 23
*125*8 12612 126 126 *126 126% 126*8 126*8 126*4 12734 127% 128
6% Jan 11
511
W
est
T
elep
&
T
eleg__100
107g
*
10
%
11
%
107g
107g
*
10%
11%
11%
11
*10
11
*10
245
D o p r e f . .................... 100
76 M ch 3
*88
90
*88
90
89
89
90
89
89
*88
89
*88
M ining
47g O ct 28
570 A dven tu re C o n _______ 25
4%
5
4%
5
5
5
5
5
5
*5
5*2
5
34 Jan 29
1,470 A llou ez.........................
25
56
66% 68%
60
65
55%
54
64
55
*5412 55
54
65 F e b 20
84%
87% 48,710 A m algam ated C opper 100
80% 82% *8178 84%
79*4 8012 80*4 8134 80% 817s
23 Mch 27
36-% 4,716 Am Z in c Lead & S r n .. 25
35
35%
35% 3534 3534
3434 35%
3434 35*4
34=g 35
38% F e b 26
49
49
lu A n a c o n d a ______________25
30 F e b 2u
437S 44
4434 40
44%
8,961 Arizona C o m m e r c ia l.. 26
43
43% 43%
42
4212 42
43%
Sep-09
____ A r n o ld ___ ___ ______. . . 25
45 F e b 17
Last Sale 1
.75
.99
.99
*.75
.99 *.7 5
.99 *.7 5
770 A t l a n t i c ............................25
8 J ’ly 16
11
11
11%
11%
10%
10% 10%
11
*10
* 1012 1034 *10
8,098 B onanza (D ev C o ) . .
10
.70
.65
.80
.70 * .6 5
46 F eb 16
.70
.65
.65
.60
*.5 0
.55
.50
10*4 M ch 15
14% 1,014 B ostonC on C& G (rets) £1
13% 1334 14%
13% 13%
1334 1334 1312 1312
13% 13=8
2034 21% 1,440 Bos& C orbC op& SU M g
5
17% JT y 14
20% 203S 20*8 20%
19% 19%
*1958 20
1912 1912
2138 F e b 24
2634 27%
2634 27%
27
27%
28% 17,10b B u tte C oa litio n _________15
27%
26*4 267g
2612 207s
96% M ay 3
1,114 C alum et & A r iz o n a .. 10
104
98
98
98
99 100% 101
97
97% 99
99
98
685 F e b 23
59 C alum et & H e cla ____ 25
640 640 *640
670
640 640
650 655
660
640 645
29 F eb 1
1,156 Cen ten nial___________
25
3612 36% 36%
39%
40
36
35
*3*7*% 37% 39
37%
37
* ____ .15 * .1 1
1.400 Cons M ercur G o ld ____
1 .10 J ’ n e 26
.15
.15
.15 .15
.15
.15
.15
.15
.15
6 8 F eb 26
78
78%
7834 79%
79
78*4 79
80
80% 1,795 C op per R ange Con C o 100
79
78% 79
7% M ay2s
520 O n ly -W e st......................... 20
8
8
8
8
8
8
7*4
8
8
*7*2
7%
7%
7% F eb 1
10*4 11
10% 10%
10% 10=8
10%
11% 2,676 East B u tte C op M i n .. 10
10 % 10%
10*2 101­
1 O ct 29
150 Elm R ive r______________ 12
*1%
*1%
11
1%
*1%
1%
1
1%
* 114
*1*4
1%
1>;
13 Feb 25
16
16% 16%
16% 163!
16%
17% 3,786 F r a n k lin _______________ 25
16%
16*8 17
16*4 16*4
738 J ’ nelO
834 834
834
6
834
87;
8%
8%
878
9*s 2,740 G iroux C o n s o lid a te d .
8*4
8%
8*4
00 F eb 26
170 G ra n by C on solld a ted -1 0 0
96
0C%
*95*2 97
+95
9512 951
97
*95 100
97
97
9 F e b 26
103t 1034
10% 1034 1034 11
1058 10*4
10 % 1034
11%
11*8 11,085 Greene C ananea_____ 20
8% Sep K)
11
11
270 H an cock C on solidated 25
11
11
* ....
”11
* 10*8 m 2
11
11
6 J T y 21
**61*2
666
H
elvetia
C
op
per_______
25
6%
63g
638
63?
6%
6%
*6%
61.
6*4 6*2
6*4
22 % A p r 27
4,595 Isle R i.vale (C o p p e r ). 25
2134 2434 24% 25%
26%
26
25
25%
24*8
24
24% 247,
7% A p r 30
5
834
8%
8%
8%
834
8*4
8% 2.651 Kerr L a k e ___________
*812
8%
8%
8*8 8*
36*4
16 Jan 30
3634 37% 6,197 Lake C o p p e r___________ 25
3334 34l 2 3414 345,
34% 3534 36
34% 35
14% 145g
14%
1458 1,715 La Saile C o p p e r . . . . . 25
10*4 J ’ly 10
14*4 14*4
14% 14%
143S 14% 14%
14
2,051 Mass C o n so l____________ 25
4% M ch 1
63S 534
6
6%
5%
5%
534
6
*512
6%
512
5%
____M a y flo w e r _______________25 .30 A p r 29
O ct’09
Last Sale .60
.70
*.50
.70 ♦ .50
.70 * .50
.70 *.5 0
540 M exico Cons M * S __10
3% A p r 16
5%
6%
5%
5%
5%
*5
*5
5%
5%
6*4
6I4 514
123j Feb 26
5
15
16
147g 15
16
16*8 8.324 M iami C o p p e r________
15
15
15
15
15*4 15*4
534 O ct 16
5%
67g
6%
6% 1,515 M ic h ig a n _____ ______ 25
6
6*8 6*8
6
6
6
6
6%
411 M oh aw k________________ 25 *57% J 'ly 16
59%
60
69
59
69
69% 69%
60
69
69
*59
69
19 l-’ eb 11
____M ontana Conso C & G 10
0 cf0 9
Last Sale .20
16% F e b 26
4,283 N evada C o n s o lid a te d .
5
24%
25
2334 24
24% 24%
2378 24
24
24
24
24%
97g O ct
1078 11%
11%
11% 2,371 N lplsslng M in e s ______ 5
1034 11%
11% 11%
1U2 11*2
11*4 11*2
47% JT y 10
58%
61 14,122 N orth B u tte .................... 15
56% 57%
57% 68%
56% 57%
56=8 67*2
56*2 57=8
4% M oll22
7%
7% 7,585 N orth Lake ($8 p a id ) . 25
7
7%
7%
7*2
7%
*7%
7%
734
7*2
7*2
40 J ’ne21
Sep’09 ____Old C o lo n y ___________ 25
*.50
.65 *.5 0
.65
.65 * .50
Last Sale .60
.65 *.5 0
47% F e b 24
600 O ld D o m in io n ____
. 25
52%
53
*49
50
*49
50% 61
60
49
49
49
49
303 O s c e o l a ..............................25 122 F e b 26
150 150 *150
*154
...
157
159
150 152 *150
26 F eb
2,780 P arrott (Sliver & Cop) 10
29%
30
28% *2*914 29% 29%
29*4 30
29
29%
29
3*0
178 Q u in cy ............................. 25
85 F e b
86
86
85% 87
86% 87
*85
86
85
85
86
86
*17g
134 O ct 12
2
100 Santa Fe (G old & Cop) 10
*134
*1%
2
2
*134
2
*178
2
17S
1%
13% F e b 26
15*4 15*2
15% 15*4
15%
16% 3,310 S h a n n o n ------------------- 10
15
15%
15
15%
15lg 15%
1,000
S
u
p
e
rio
r________________
25
34
Jan 6
58%
58*4
58%
59
57
57*8
58
57
57
57
57
67
13% O ct 28
14% 1,438 S u p erlor& B oston Min 10
13% 135S 1334
*14% 1412
14
14
141g 143g
14% 14%
15
15
12% A p r 27
15*8 16*4
*15
15%
15
15
15%
15
16*8 3,777 Su p erlor& P Itts C o p p - 10
70
200 T a m a r a c k ______________25
*65
62 J 'ly 16
69
65% 67
*65
66
6512 68
66
10
1,153 T r in ity ................................ 25
10 O ct 22
10
101
10
10*
10
10
10
10% 10%
To
200 U nited C o p p e r . . . .1 0 0
8% J 'lie 22
9*4
9*4
*9
9%
9i
9% *9%
9%
*9%
9%
367g
3734 5,088 U nited S tatesC oal& O ll 25
28 Jan 12
36*4 363,
36% 36%
37*2 37*4
36% 3678
36*2 37
6434
54
63
54
39 F e b 26
53% 64%
54%
55% 9,852 U S S m elt Ref & M in . 50
53
53%
63)4 54%
52S8 6278 52% 621:
1,753
D o p r e f ......................... 50
52
62% 62%
44 Jan 8
6178
6212 63
62
62%
*4%
*4%
4
41
875 U ta h -A p e x M in in g ...
4%
4 O ct 29
*4
+4
41;
4*2
4%
4*4
4%
4334 1,621 Utah C o n s o lid a t e d ...
42
42
42%
42
43
417g 42
37% F eb 24
42
43
42*4 4214
56 Utah C opper C o . ____ 10
3934 F e b 26
48%
49
46% 46%
48
*47
334
110
V
ic
t
o
r
ia
________________
25
4
31
*3%
*3
334
3%
3 O ct 28
3
3
‘ *31*2 "334
*3*2
•34 A p r 30
165 W i n o n a _______________ 25
67g
*6%
*6%
*6%
fil
7
7
7
7
6%
* 6*2
6%
53 W o lv e r in e ______________:;5 130 M ch Is
147
150
145 145 *145 150 +____ 150 *145 149 *145 150
2
■l O ct 6
3% 5,330 W y a n d o t ___ __________ 25
2
2
2%
*178
c Betore p a y ’ t o f assess'ts called in 19uu.
• B id and asked prices,
d N ew stock, e A ss't paid, b E x -s to ck d lv . h

12212

Itamie lor P evious Year
»1908)

Range since Jan. 1
1909.

STOC KS
BO STO N STO C K
EXCHANGE

125% O ct
106 o lie
239% A pr
132% A p r 22
235 M chlO
161 O ct 12
160 A p r
301 Jan
22
F eb
76 F e b
.
H ch 12
1*%
£5% O ct 7
162 .> 'ic28
123 j ’ly 6
173 Men a
142% Mch 25
175 M c h lo
136 F e b 5
9812 O ct 27
88% S ep 15
jU5‘4 oan i3
19 O ct 1
83 S ep 29
i74% J 'n c l 1
149 A u g 9
215 S ep 2
200% Jan '8
40 J ’ ne 5
117% A u g In
107 A u g 3
21834 A u g 16
117% A ug 16
175 -Ain 17
98% A p r 23
112 A p r 27
146 M ay 19

67r'\ Feb
8: % Mel
181% Jan
, i ‘2 1l» D ec
200% Feb
114 O ct
136 Feb
284 Jao
9 ill '
4b Jan
8% N ov
47% D ec
126 Jan
102 Jan
163 D ec
133% Sep
244 Jan
117 Jan
67 A pr
f'l Oet
103 N ov
8% Jan
40 Jan
128 Jan
140 Jne
200 A pi
175 Jan
‘ 5 Jan
70 Feb
88*3 Jan
110% Mch
783j Apr
160 Jan
76 Jan
06 Jan
133 JTy

101% D ec
104% D eo
230 D eo
140 Jan
223 D eo
140 Jan
156 Jan
301 N o v
13 M ch
£8 N o v
17 J an
60% Jan
151% D eo
D 0% D eo
166 M ch
138 A p r
263 D eo
133 N o v
86 D eo
85 D eo
193 N o v
1334 N o v
64 N o v
101 N o v
145 A p r
: 05 F e b
I96is D eo
34 D eo
15 D oo
1 02 D eo
185*8 N o v
07% N o v
101 N o v
91% Sep
1 10 D eo
140 Mch

50% A u g 12
105 JT y 23
F e b .3
J ’ne 14
136 A p r 8
131 A pr la
145% Sop 20
40% A u g 27
108 .I'tf 11
8% O ct 26
147 O ct 29
60% O ct 6
l3% J ’ne 9
260 A p r ,
173 A u g /
7b O ct 22
97 A p t 20
220 F e b 17
8% O ct 15
126 O ct 26
118 O ct 16
139 S ep 20
108 O ct 13
199 A u g 7
12 S ep 29
114% A u g 6
25 A u g 13
28 O c t 9
2 Apr V
167 S op 20
71 O c t 7
31% S ep 21
947g O ct 4
131 O ct 4
12*4 M ay 6
90 JT y 15

13 Jan
77 U r
4 Feb
9% Feb
99% Jan
1U0 Feb
99 Jan
16 Jan
773j Feb
3 Jan
96% Jan
1434 Jan
4% Mch
V01 Mch
111 Jan
41' M il
77 Jan
192 Apr
1 Mcl
40 Mch
76 Mcl
105 Jan
51% J ’ne
147 Jan
0 A pr
88% Jan
20 Jan
"3 May
1 % Mch
114% Jan
38% Jan
2478 Jan
20 Jan
87% Jan
4 Feb
69 Jan

36 N o v
96 N o v
12 D eo
23 D eo
137*3 N o v
132 N o v
132% N o v
323g D ec
96% N ov
4% D eo
128 N o v
21% D eo
8% N o v
253 N o v
102 D eo
60 D eo
90 N o v
215 N o v
3 O ct
78 N o v
93 D eo
128 N o v
79 D ec
174% N o v
10 % N o v
108% JT y
24 O ct
26% D eo
2% Jail
148 JT y
62*8 N o v
30 N o v
68*4 N o v
114 N o v
9% N o v
80% D eo

10 % M ay28
62 O ct 1
68% A u g 2
36% O c t 29
61*8 J ’ne 4
48% S ep 29
1 Feb i
18 oan 2
80 M ay 7
17% M ay 8
22*8 Jan 2
28% O ct 29

1% Feb
24 A pr
45 Feb
20*4 Jan
28 Feb
14 Jan
.40 F e b
8 A pr
.25 O ct
10% Apr
11% Apr
16% Jan
93 Feb
605 Mch
2 1 F eb
25 Mch
66% Feb
7 Jan
8*4 D eo
99 Mch
6% A pr

12% A u g
41% N ov
83% N o v
30 J ’no
63 N o v
40*s D eo
.90 A u g
19% N o v
,75 N o v
18% N o v
25 N o v
30 A u g
130 A u g
700 Jan
86*4 N o v
45 J ’ne
83% N o v
117* N o v
10 D eo
2% N o v
19% N o v

II*

l l 'J

uvu

4

695 A u g 13
44% S ep 3
.36 •an 15
86% A u g 12
12 Men 19
10*8 A p r 29
2% Jan 16
19 A u g 3
10% A u g 2
110 Jail 4
123.1 Jail 2
12% J ’ nelO
7% A u g u
33% F e b It
9*8 A u g 19
39 A u g 18
163., F e b 16
18% May2h
10
JT y 2
6% MnylO
17% A u g 6
13% M ch 4
70% Jan 8
.40 A p r 6
25% A u g 12
13 Sep 21
55% Ja.i 2
1 1% A u g 0
.75 A u g 6
69 A u g l l
)60 O ct 4
36% J ’nelO
69 Jan 4
27,8 Jan 8
17% Jan 4
62% A u g 3
18% Ma>2»
18% JT y b
90 F e b 26
17*8 Jan 23
16% Jan s
38% O ct 18
50 Sep 21
64 O ct 4
6*4 Jan 26
48% A u g l l
64 A u g 1:
6% M ay 0
83g Sop 20
168 A u g 12
4 Jan
E x -rig h ts , u

50

Jan
6% Jan

. 10 J ’ly
13% A u g

1734 F eb

26% Jan

10

Sep
12% Jan
2% Mch
.26 Jan
31= D ec
f*4 Sep
7% Feb
46 F eb
JT D ec
8*8 Jan

24% D eo
17% Jan
83s A u g
.75 J 'ly
8 Jan
16% D eo
15% N ov
73 N o v
1*8 Jan
20*4 N o v

*403* Feb

59*4 N o v

.50 Jnn
28 Jan
77 Feb
10% Jnn
77 F eb
1*« A pr
9*4 F eb
14 A pr

1
60%
135%
31%
100
3*»
19%
36%

JTy
D eo
D eo
D eo
Aug
N ov
N ov
N ov

20% N o v
14*8 O ct
88 N o v
60 Mch
26 A ug
12% Feb
16 % N o v
4*8 Mch
39% NOV
9 Mch
40% N o v
28 Mch
47 N o v
37 Feb
43S S ep
7 N ov
60 A ug
29% Jan
53 N o v
28% May
2% A pr
6 N ov
4% Jan
<7%Nov
inn
165
o m
N o/yv
116% Jan
.60
3% O0%
E x -d lv . a n d right#.

P rice
f ’r id a u
Oct 29

B O ST O N ST O C K K X O H ’ G S
------------------------------------W bek E nding O ct 29
A m T e ls n * T el c oll tr 4 s .1929
C on v ertib le 4 s ........ ........ 1996
A m vVnt Pauer 1st s 16s « 1919
A m Com Cop 1st c o n v Gs 1918
A ten Ton * S Fe g e n g 48—1995
A d ju s tm e n t e 4 s___ J 'ly 1995
Stam ped ................ J ’ ly 1995
60-year c o n v 48..............1955
10-year c o n v 5 s .............1917
A t l G u ll * W 1 S3 L in e s 5 s .’ 69
B oston E lect L Ootisoi o s . 1924
Boston its L o w e ll 48........... 1 9 1G
Boston <te M aine 4 4 s ......... 1944
B oston T erm inal 1st 3 4 8 .1 0 4 7
Bur <ts M o R iv c o n s G s ___1918
S in k in g tnnu 4 s ................1910
B u ttons B oston 1st Gs___ 1917
Cedar Bap * M o l i 1st 7S.191G
2d 7 s ..................................... 1909
Dent V erm t 1st g 4 s ..M a y l 0 2 0
0 B & w Iow a D iv 1st 68.1919
Iow a ili v 1st 4 s ................ 1919
D ebenture 5 s ..................... 1913
D enver E x to n 4 s ..............1922
N ebraska E x te n 4 s ........1927
B & S \V s 1 4 s................... 1921
Illin o is D iv 3 4 s ................1949
J o in t bonds s e e G t N orth e rn
J h i o j c By & Stk Yus 6 s .1915
C oll tru st r e fu n d in g g 481940
Oh M U * St P D u b 1) 0 s .. 1920
Ch M * St P W is V d iv 081920
Chic * N o M ich 1st gu 5 s .1931
C h ic * W M id i gen fts___ 1921
C on cord & M on t c o n s 4 s ..1 9 2 0
Conn * Pass B 1st g 4 s . .. 1943
C u rren t K lver 1st 6s ......... 1927
D et G r Bap * W 1st 4 s . . .1 9 4 0
D om inion Coal 1st s t 6 s . .1 9 4 0
F itch bu rg 4 s ......................... 1916
4 s .......................................... 1927
P rom t E lk & M o V 1st G s.,1933
U nstam ped 1st Gs........... 1933
G c N or O B * Q c o ll tr 4s 1921
R e g is te r e d 4 s ..................... 1921

J -J
M -8
J -J
M -S
A -O
N ov
M-N
J -D
J -D
J-J
M -S
J -J
J -J
F-A
J -J
J -J
A-O
M-N
J-D
q -p
A-O
A -O
M-N
F-A
M-N
M-S
J -J j
J -J
A-O
J -J
J -J
M-N
J -D
J-D
A-O
A-O
A-O
M-N
M-S
M-S
A -O
A-O
J -J
<4-J,

B a n ker 'l l !
S in !*
|! B O S T O N S T O C K E X C H ’ G E
L a st Sale ^
J a n u ary 1
W bek E n ding Ocrr 29

1

' Sf

P rice
F r id a y
Oet 29

W eek’ s
R ange or
Last Sale

lw 1
i’e g
SS

R an ee
Since
J a n u a ry l

H ig h No ] tow Jiigh
H igh, .V* J,oi» Highi
B id
A sk Low
B in
A s k Low
9 2 4 64 9 1 4 9G4l Illin o is Steel deben 5 s . ...1 9 1 0 J - J .......... 1 0 0 4 1 0 1
O ct ’ 09 . . . . 100*4 101
92 4 Sal*
92*8
N o n -c o n v e rtd e b e n 6 s ...1 9 1 3 A-O 1 0 0 4 .......... 1 0 0 4
105 4 73 02 4 1 0 7 4
10034
1 10041014
105 4 Sale 104
83
l a F a ll s * S i o u x C i s t 7 s .. 1917 A -O ..................... 117
A p r ’ 0 8 ..............................
..................... 83 M ar’ 09 . . . . 83
Sep 09 . . . . 130 190 1 K an C Clin & S p r 1st 6 s . . .1 9 2 5 A -O
.....................190
97
9 6 4 9 7 4 0 6 4 O c t ’00 . . . . 94
lo o
1 0 0 4 1 0 0 4 O c t ’ 09 . . . . 100 1 0 1 4 K an C F t S * G u l f e x t 6 s ..1 9 1 1 J -D ..................... 100
Sep ’09 . . . . 100 101
93
96 | 94 O c t ’O S----- 9 2 4 9 4 4 K a n C F t S c o tt * M Os___ 1928 M-N 118*0 1 1 9 4 119 4 O c t ’ 0 9 . . . . 1 1 6 4 1 2 0 4
94 4 K a n O M & B ge n 4 s ............1934 M-S
93 4 94 1 03
93 I 4 90
94
93
9G ! 9 4 4 O ct ’09 . . . . 93
A sse n te d in co m e 6 s ......... 1934 M-S
1214
1 1024 1214
1 2 1 4 Sale 1 2 1 4
91
92 ! 92
92 I 2 86 4 9 2 4
J ’ ne 09 . . . . 1 0 3 4 104
113 4 ......... 12 0 4 A u g ’ 09 . . . . 1 0 7 4 1 20 4 K a n C & M B y & B r 1st 6 s l9 2 9 A -O 1 0 4 4 ......... 104
7 0 4 119 69
7 3 4 M a in e C en t con s 1st 7 s . . .1 9 1 2 A-O ..................... 113 ’ a N o v ’ Od . . . . ................... .
70 Sale
094
C on s 1st 4 s ..........................1912 A-O ....................... 1 0 1 4 Sep ’ 0 5 ..............................
F e b ’ 04
..................... 1 1 0
J’ n e’ 0 8 ..............................
..................... 100 4 M ar’09 . . . . 1 0 0 4 1 0 0 4 M aro H ou gh * O nt 1 st Gs. 1926 A -O ..................... 116
_
M ass G as 4 4 s (r e c t s )......... 1929
98 Bale | 08
98 I 9 98 100 ,
..................... 104 4 O ct ’08
M e x ica n Cen tral oons 4 s ..1 9 1 1 J - J ..................... I 80
..................... 1 1 2 4 Jan ’ 03
. . . . 8 4 4 86 I
102
li
l
s
t
e
o
n
s
in
o
3
s
...........Jan
1039
J
’ly
..
..
102
O
ot
’09
..................... 10 2
A p r ’ 08
..................... 1110
H
..................... 1116 4 A p r ’ 08 ..................... 90 4 Jan '09 .. .. 9 9 4 99 4 I 2d. c o n s m e 3 s ...........J an 1939 J ’ ly
M ich T e le p ls t 5 s .................. 1917 J- J
J ’ ne’ 01
..................... 10 0
M ln n e G en E le c c o n g 6 s 1929 J - J . . . . . . . . . . . . 1 0 2 4 A u g ’ 0 4 ..................................
J ’ ue’ 08
..................... 117
N e w E n g Cot Yarn 6 s ....1 9 2 9 F-A 1 0 4 4 Sale 104
..................... 1 1 1 4 J ’ly ’05
104 4 22 102 4 1 0 4 4
83 | 1 0 , 81
00 4 N e w E n g T e le p h 6 s ........... 1915 A-O ..................... 102 F e b ’ 0 9 ____ 102
102
88
89- | 88
5 s........................; ..................1910 A-O ..................... 100 4 Sep ’ 08 . . . . ......................I
..................... H103 Oot ’ 07
!! 9 9 4 100 V N e w E n gla n d c o n s g 5 s ... 1946 J - J
..................... 1 0 9 4 J ’l y ’ 09
jl
A p r ’ 08
! B o sto n T e rm 1st 4 s ........1939 A-O
..................... 100
O ot ’ 09 . . . . 0 9 4 1 0 0
N Y N H & H con d eb 3 4 s l 9 5 6 J - J
..................... 100
. 1 0 9 4 O c t ’09 . . . . 9 7 4 1 « 9 4
May'00 . . . . 1014 192
I C o n v deb Os ( c t f s ) ......... 1943 J - J
. 1 4 1 4 S e p ’ 09 . . . . 134 1 4 1 4
..................... 10 2
Old C o lo n y gold 4 s .............. 1924 F -A
99 O ct ’ 09 ....'I 9 8 4 99
. 101 A p r ’09 . . . . 101 101
89 4 O ct ’ 0 9 ',....|| 8 9 4 92
O reg B y * N a v c o n g 4 s . . 1940 J -D
7 9 8 4 Sep ’ 09
984 984
O reg S b L in e 1st g Os........1922 F-A
.'1 1 8 4 M ar’ 09 . . . . 1 1 8 4 119*5
p
u
b
V
a
lle
y
1st
s
f
O
s...1
9
1
9
J
J
R
e
1
0
1
4
1
0
1
4
1
5
1
0
1
4
1
0
4
.1 0 5
D e c ’ 08
1 0 1 4 Sale
R u tlan d 1st c o n ge n 4 4 s . 1941 J - J
03 O ct 0 9 . . . . 91
94
. 1 0 7 4 N o v ’ 05
9 0 4 92
R utland-C anadlan I s t 4 s l9 4 9 J - J
1 1 8 4 F e b ’ 09 . . . . 1 1 8 4 1 1 8 4
. 102 M a i’ 02
Savannah E lec 1st c o n s Ss.1952 J - J
120 F e b ’05
.1 9 8 4 M ay’06
103 | S eattle E leo 1st g 6 s ..........1930 F-A
103 Sep ’ 09 . . . . i o i
1024
.1 0 4 4 O ct ’ 09 . . . . 104 1 0 6 4
10G J ’l y ’ 09 . . . . 10 2
1 0 0 4 T e r r e H a u te E le o g o s . ...1 9 2 9 J -J
.! 97 A p r ’ 07
T
o
r
r
in
g
to
n
1st
g
6
s
........... 1918 M-S
91 D e e ’ 07
.1 0 2 A n g ’09 " I * ib‘ 2 ” i o i ’ *
U n io n P a c R R * 1 g r g 4 a .l9 4 7 i J - J
112 4 Jan '0 3
1 0 2 4 A p i ’09 . . . . 1 0 2 4 103 4
20-year c o n v 48................ 1927|J-J
9G F e b ’09 - “ ” 9 6 " ’ y d " |i
. 1 1 0 4 J ’ ne’ 09 . . . . 1 0 2 4 1 1 0 4
90 4 Sale
92 4 U n ited F ru it g e n s 1 4 4 8 .1 9 2 3 J - J
90
90 4
10 9 5 4 97
9 0 4 91 O ct ’ 09 . . . . 87
1 9 6 4 9 7 4 U S Coal & O il 1st s I O s.. 1938 M-N
, 160 O ct ’ 09 . . . . 120 155
0G 4
964
' U S S t e e lC o r p lO -O O y r 5 s .l9 0 3 :M -N
.................... 103 4 A p i ’ 05
105
1054
3 102 4 1 0 8 4
!, W e s t E n d S tre e t K y 4 s . . . .1 9 1 5 F -A
................... 9G A p r ’ 03
. 1 0 0 4 A p r ’ 09 . . . . 1 0 0 4 1 0 0 4
G old 4 4 s ........................... 1914 M-S
..................... 133 M ar’ OO . . . . 133 133 I
. 1 0 1 4 J 'n e ’ 09 . . . . 1 0 0 4 1 0 2 4
G old d e o e n tu ro 4 s ...........1916 M-N
..................... 140 A p r ’ 06
. 99 4 S e p ’ 09 . . . . 99 4 100 4
G old 4 s ...............................1917, F-A
954
90 I 10 9 0 4 99 |l
0 5 4 Sale
. 1 0 0 4 O ct ’ 09 . . . . 99 4 1 0 0 4
9 6 4 ......... 9 0 4 O c t ’ 00 . . . . 0 0 4 9 8 4 W e s te rn T e le p h * T e l 68.1932; J -J
9 8 4 Sale I 98
99 | 12; 90 1 0 0 4
I, W is c o n s in C en t 1st g e n 4819491 J -J
.1 95 4 A p r ’09 . . . . ! 9 3 4 « 5 4

N o t e —B u yer pays a ccru e d in te re st In a d d itio n to the pu rch ase p rice lo r a ll B o sto n Bond*.

* N o p r ice F r id a y ; latest bid an d asked.

H F la t price.

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h are Prices— Not l ’ or Centum Prices
M on d a y
Oct 25

S a tu rd a y
Oct 23

W ednesday
Oct 2 7

T u esda y
Oct 2 6

Sales 1
A C T IV E S T O C K *}
the
W eek ; ( t o r B on d s and In a ctive
S tocks see below J
Shares

0/

lY id a y
Oct 20

T h u rsd a y !
Oct 28

•324

100
17
35

105 4 loti
30

36

13

35

1
*40
*46 4
44 4
*12 4
594

22

71

10

4 0 14
4 5 >4
454
12 4
69 4
22 4
7 2 *4

12

27
27 4
117 118
97
98
72 4 73 4
48
48
1 2 4 13
2 6 4 25 4
7 9 4 79 4
6 3,
0 ‘1
52 4 62 4
89 4 89 4

|
45*4 4 5 4
454 454
12 4 12 4
59
59
22
22 4
70
714
204
117
97 4
724
*47
124
254

0«8

62
89

lo o
17
36

1 0 5 4 100
*10
18
* ......... 36
*12 4
1

404 404
* 4 5 4 40
45 4 40
* 1 2 4 12 4
58

22

6 s 34

22

1

*40
454
454
*12 4
5b 4

21

71
71V
704
___ 1
*114
27
27
27 “1
27 4
I
I 63,
117 4 117 4 H 7 4
974 984
97 4
99 4
73 4 7 3aie73l®ie 73aig
4 i Hi
4 ( 4 43-4
484
12 4
1 2 4 13 - 13
25 4
26 1 25 4 2541
79 4
b07ie 796io 80 4
04
6l l io 0 * 4 o
*04
62
62 1 62
62 4
8 9 4 89 4!
89 4!
89 4

P ll lL A B E L l’ H I A
i n a c t iv e S l o c k s
A lleg h en y V a l pt-b f .. .. 5 0
A m erica n C em ent........60
Am ur Pipe M fg ....... .1 0 0
B ell T elep h on e (P a ). 100
O am bria i r o n ................. 50
C en tral Coal * C ok e. 100
U o n s o lT r a c e ! N J ...1 0 0
D iam ond State S t e e l.. 10
P r e f e r r e d ..................... 10
E a ston Con E le c tr ic 6.60
E lec S torago B u tt....1 0 0
P r e fe r r e d ................... 100
F t W a yn e * W V ........ 100
G erm an tow n P a ss........60
In d ian ap olis S t ........... 100
T&diaua U nion T r ___ 100
in s u r a n c e Co o f N A . .10!
In te r Sin P o w * C h e m .5 0
K ey s ton e T elep h on e ..5 0
P r e f e r r e d ..................... 50
K e y s to n o W atch Case. 100
L it B r o th e r s ................... 10
L ittle S c h u y lk ill........... 50
M ln ehill * S cliu y f U ..5 0
N H a v e n Ir o n * S t e e l.6
N orth ern C en tra l......... 50
N orth P e n n s y lv a n ia . .60
P en n sylva n ia S a lt........60
P en n sy lv a n ia s i e e l.,1 0 0
P r e fe r r e d ................... 100
P h ila C o (P itts ) p r e f ...60
P h il G e r m a n * N o r r is .50
P h ila T r a c tio n ............... 50
R a ilw a ys G en era l........10
S u s q u oh Iron * S t e e l..6
T id e w a te r S te e l........... 10
1 P r e f e r r e d ..................... 10
T on op a h M in in g o f N e v l
U n ion T r of l n d ......... 100
iU nlted N J R K * 0 - 1 0 0
lU nit T ra o P u ts p r e t ..6 0
W a r w ic k I r o n * S t e e l.10
W e s t Jersey & S e a S h .5 0
W estm orela n d C oa l..—50
jW ilkes G a s * E l e c ..100

Bid

40

A sk |
..........1
40 4

120 122
40 4 4 0 4
70 4

” 67 ‘

" 59”

46 4
4 5 84
12 4
584

21

704
27 4
117
98 4
74
43-4
13
'204
80-4
G34

62

894

*40
+4 5 4
45 4
*124
684
*2 1 4
71

40
40
12 4
584

40
*45 4
454
*12 4
58

22

224
11
115
67
014
100
116
434
151
89
04

04

744

12

274
1104
984
74
*48 4
13 4
25’*
80®j«

P H IL A D E L P H IA
B onds
P rices a re a l l “ an d
in terest,"
A1 V a l E e x t 7s 1910 A-O
A l t & L V E lec 1 4 s ’ 33.F -A
A u iU y s c o u v S s 1 01 1. J-D
A tl C ity 1st 5s g ’ 1 9 .M -N
B e r g * E llr w 1st 0s”21 J-J
B etlilo Steel Os 1 9 9 8 .(J-F
C h o c * M e 1st 6s 1949 J -J
Ch Ok & G gen 5s ’ 19 J -J

E & A 1st M 5s 1920 M -N
E le c * P e o T r stk tr ctfs
E q II G a s -L ls t g Q s 1928
In dia n a p o lis lty 4s. 1933
2 2 4 In te r s ta te 4s 1943 „ F -A
L e h ig h N a v 4 4 s ’ 14.Q -J
R lt s 4s g ........1 9 1 4 .Q -F
12
G en M 4 4 s g.l92 4.C J-F
L oll V C 1st 5s g ’3 3 ..J -J
L e h V ex t 4s 1st 1948. J-D
2d 7s 19 1 0 ................. M -S
C on sol Os 192 3 ........J-I)
A n n u ity Os............... J-D
G on c o n s 4s 2 0 0 3 .M -N
L e h V T ran con 4s ’33J-D
i o S ” N e w Con Gas 5s 1948 J -D
N e w a r k P ass c o n os 1930
N Y P l i * N o 1 s t 4s ’39 J-J
44
In c o m e 4s 1939 —-M -N
162
N oO U ioT rao c o u 5 s ’ 19.J-J
90
T e n n ge n Os 1 9 1 0 . —V a r
10
C on sol 5s 1919........Var
P eu u * M d Steel co n 6s.
P a & N Y Can 5s ’39. A O
.........
C on 4s 1930..............A-O
0 4 P e n u S teel 1 s t 5 s T 7 M -N
. . . . j P e o p lo ’ s T r tr ce rts 4s ’ 43
P C o 1 s t * c o l tr 5s’ 49 M-S
"
C o n * c o l tr 6s 1951M -N
1 1 4 P h il Eleo gold trust c tfs .
T r u s t c e r tils 4 s ..............
P * E g o u M c g ’ 20. A-O
G en M 4 s g l 9 2 0 - A & 0
......... I
1|E x -righ ts.

22

71

71*4
114
27 4
28 4
117 311 4 4
99
984
74®ia 746ia
48 4
48 4
13
13 4
244
20
81
804
04
0 5a
52
62 4
614
89 »« 89 \
159*4

* 11

126

, * B u l and asked; u o sales on this day.




103 4 100
*16
174
* _____ 35

37
83
105<4 106 4
17
17
*34
35
* 1 2 4 13 4

1] $7.50 paid,

B a lt im o r e
....... Con. G as El. L. * P o w .1 0 0 30
M ar 8 4 2 4 M a y l2
75
D o p re t....................100 76
M arlO 89 M a y l8
240 N o rth e rn C e n tr a l......... 50 100
Jan 4 111 Jan 10
85 Seaboard (n e w ).............. 100 J 14 F ob 25 21 4 J ’ n e l4
70
Do 2d prer.............100 2 2 4 F e b 2 4
41 -if a> 17
13 U nited B y * E le c t r ic .. 60
9 4 F eb 3 14*8 A u glO

P h ila d e lp h ia
60 A m e rica n C e m e n t......... 50 3 7 4 A p r 13 43 Jan 2
404
40
14 A m e rica n R a ilw a y s .... 60 4 4 4 J ’ly 8 4 0 4 t e u 18
40
9,514 C am bria S t e e l ................. 50 3 2 4 Feb 23 49 Sep 21
10 E le c t r ic Co of A m e r ic a 1 0 * 1 0 4 Jan 20 1 2 4 J ’ ly 14
12 4
134 E le c Storage B a tte r y .. 100 43 Jan 30 63 4 J ’ ly 30
58 4
23
4,239 G en A sp h alt tr e fts .. 100 15 4 J a n 5 2 5 4 F eb 1 a
73
2,315
D o pret tr ctfs . . . . 100 53 Jan 5 75 O ct 4
9 4 Jan 21 15 A pr 19
260 K e y s to n e T e le p h o n e ... 50
114
28
7,222 Lake S u p erior C o rp ___ 100 144 Jan 6 3 3 4 M ay 8
878 Letngh C * N a v tr ctfs. 60 90 J a n 5 1 2 1 4 A u g l l
114 4
50 07 Feb 23 113 Sep 21
9 - 4 14,994 L e h igh V a lle y .........
V4»,« 2,818 P e n n sy lv a n ia B R ......... 50 63 4 F eb 2 4 7 5 4 S ep 29
■18-a 1,508 P h ila d elp ’a O o (P it t 8 b ).
40 4 F e b 24 4 9 4 A u glO
13 4 0,342 P b iladelpliia E le c t r ic !.
1 1 4 F o b 23 1 3 4 O ct 11
2 4 4 Jan 5 30 4 A pi 28
2 5 4 30,,585 Pliila R apid T r a n sit . . .
10,4
(0
R
e
a
d
in
g
...........................
5 9 4 F e b 23 8 0 4 Sep 2 1
814
6 4 Jan 10 7i3,a MarJO
flu lO 1,425 T on op ah M in in g ..........
5 0 4 J a n 5 5 8 4 May 4
62 4 5,840 U nion T r a c t io n .............
4,302; U nited G as lin p t............
8 4 4 May 13, 94 4 Feu 0
90

B id \ A s k

......... 1_____
99
i o i " 107
ii.7 ”
105 4 1 0 5 4

92
1064

*024

674

109

1094

119
148
97

121
150
974

100 4

......... .........
98
ib&
97 4 08
102 4 Iu3
7 5 4 75 4

P H IL A D E L P H IA

I B id I A s k |

Pli & Bead 2d 5s ’ 3 3 . A-O
Con 31 7s 1 91 1........J-D
E x Im p M 4s g ’ 4 7 .A-O
T erm in al 6s g 1 9 4 1 .(J-F
P W * B co l tr 4 s ’ 21. J-J
P o rtla n d l iy 1st 6s 1930.!
B ooh l i y * L e o n 6s '5 4 J-J
S pa n ish -A m i r Os ’ 27 J-J
U T r a c l n d ge n 6 s’ 19.J-J
U n ity s T r c t fs 4s’ 4 9 J * J
U n ite d ity s lu v 1st c o ll tr
s f 6s 19-20................. M -N
U T ra o P it ge n 6s ’ 97 J-J
W e is bach s f 5s 193 0. J-D
W lk s-B G & E co n 5 s ’65J-J
B A L T IM O R E
I n a c t iv e S t o c k s
A la C ons C o a l* Iro n . 100
P r e t .............................. 100
A t l a n t a * C h a rlo tte .. 100
A tia n Coast L (C on n ) 100
C anton C o .....................100
C ons C ot D u ck C o r p . . . 50
P r e f e r r e d .....................5 0 ’
G e o rg ia S o u * F l a . . . 100
1st p r e f.......................100
2d p r e f . . . ............. . .. 1 0 0
G -B -S B r e w in g ........... 100
B onds
P r ic es are a l l “ an d
in terest."
A u a co s tia * P o t 5 s ...........
A tl & Ch e x t 4 4 s ’ 10. J-J
A tla u C L B i l l s 1952M -S
A t l Coast L( C t)ctf8 5s J-D
C tfs o f in d e b t 4 s . . —J-J
5-20 y r 4s 192 5......... J-J
B a ltC P a s s l s t 5 s ’ l l M -N
B a lt F u n d g 6 s .1910 M -N
E x ch a n g e 3 4 s 1930 J-J
B a l t * P 1st Os n i l ' l l A-O
B S P & O 1st 4 4 s '5 3 F -A
B a lt T ra o 1st 5 s —”29 M -N
N o B a lt D iv 5s 1942 J-D
i C en t’ l liy c o n 5 8 l9 3 2 M -N
E x t * Im p 5 s . 1932 M -S

30
814
l U2
15
20
12

D eo
D eo
D eo
D eo
D eo
N ov

324
424
264
84
24 4
34

Mat 43 D eo
M ai 40 4 N ov
F eb 40 4 D eo
Jan
1 1 4 Deo
Feb 47 4 Deo
1 9 4 Deo
Jan
1 9 4 J an 6 9 4 Deo
9 May
4 4-<an
3®g Feb 17 D eo
78 4 J an 9 7 4 D ec
5 2 4 F eb 7 6 4 D eo
5fuxa J an t>6ii» Deo
34 4 Mai 4 4 4 D eo
5 4 Feb 1 2 4 N ov
d l 2 4 J ’ ne 25 4 D eo
4G3je F eb 7 i n 10 D eo
: 3 4 J an
9 4 Apr
* 4 4 4 J ’ne 5 0 4 A p r
I 7 3 4 Jan 9 4 4 D eo

B A L T IM O R E

B id

A sk

C h a s C ity E y l s t o s ’ 2 3 J -J 100
90
Clias By G & E l 5s ’ 99 M -S
92
Cliarl C & A 2d 7 s ’ 10 A -O 1 0 1 4
C ity * S u b 1st 5 s „ ’ 22 J -D 10 7 108
C ity * -S u b ( W as) 1st o s ’ 48 103
1044
C o a l * 1 B y l s t 5 s ’ 2 0 F -A 1 0 1 4 102
99 . . .
C o l& G r n v ist0 s.191 0.J-J 108 109
103 103-2 C on sol G as O s ...1910 J-D 100 4 10 0 4
1104 1114
5 s .................. ...1 9 3 9 J-D
7 8 4 G a * A ia 1st eon 5s ’45J-J 104 4 105
105
G a Car * N 1st 5s g ’ 29 J -J 104
81
8 4 4 G eorgia P 1st Os—. ”22 J-J 110 116
G aSo * F la 1st 5s 1945J -J 108 4 100 4
44 4 144
” 80
8 0 4 U -B -S B re w 3-4s 1951M -S
2d in co m e 5s 1951 M -N
114 144
1014
106
K n o x v T r a c l s t 5 s ’ 28A .O 104
113
L a k e li E l 1st g u 5 s ’ 42M -S 110
95
M acon B y * L t l s t 5 s ’ 53J-J
96
99 100
M em ph is S t 1st 5s’ 45 J-J
M etS t( W a s li)ls t5 s ’ 25 F A 107
77
M t V e r C ot D u ck 1st o s .
320 335
774
05
N p t N * C P 1st 5s’38 M -N
06
9 7 4 100
N o rfo lk St 1st 5s ’ 4 4 ..J -J
0 I 7
N o r t h C e n t 4 4 s l 9 ‘2 5 A -O 1 0 2 4
20 ! 21
Series A 5s 1 9 2 0 ....J - J 110
S eries B 5s 1 9 2 0 ....J -J i 110
93 4 05
73 ......... P itt U 11 T r a c 5s 1 99 7.J-J 100
2
2 4 P o to Val 1st 5s 1 9 4 1 ..J-J 105
109
Sav F l a * W est 5 s ’34 A-O 1 1 2 4
80
Seaboard A L 4s 1950 A -O
80V
S cab * lioan 5s 1 92 0. J J 107 4 1 0 8
South B ou n d 1st 5 s „ A - O 105 |1054
1024103
92 4 93
100 I......... U E l L * P l s t 4 4 s ’ 2 9 M .N
0 5 4 9 5 4 U u B y * El 1 s t 4 s ’49 M -S
80 4 8 0 4
6 7 4 68
In co m e 4s 1 94 9........J-D
105 I.........
83 4 1 8*
87
90
F u n d in g 6s 1 9 3 0 ...J -D
92 ......... Va M id 2d ser Os ’ l l . M - S 1 0 1 4 1 0 2
10 0 4 10 1
3d series Os 1 9 1 0 ..M -S 107
105 |lOO
4th ser 3-4-5s 1 9 2 1 .M-S 106
98
98 4
5tli series 5s 1 9 2 0 .M -S 107
1984
102 1
V a (S tate) 3s n e w ’ 3 2 .J - J 1 90
l-'uud d ebt 2-3s 1991. J J ! 01
9 2 4 03
109
111
W e s t N C con Os 1914 J J 106 4 107 4
1 1 3 4 1 U I W e s V a C& P 1st Og’ l 1 J-J 1 0 1 4 1 0 1 4
108 1 1 2
W il * W eld 5 a - 1 93 5.J-J 112 ,113
107 I.........

|

..

t $ 1 2 4 paid. * $ 1 3 4 paid. { $ 3 5 paid, a R e ce ip ts, b $25 paid. c $ 3 0 paid, d $ 12 4 paid.

Bid A r t
Jn u u strn and M ’. sce
Con S team ship L in e s. 100
('oil tr 4s 1957 rets J& J / *2*0* *2*5*"
120 " Corn Prod R e f— See S to ck E xc list
TRANSACTIONS AT T H E N EW Y O R K STOCK EXCH AN G E
137g 14
75
0 C rucible S teel_______ 100
D A IL Y , W E E K L Y AND YEARLY'.
831 83^4
50
e P re fe rre d __________ 100
115
•71g
C u m b e rla n d -E l; C o p p e r .5
7*4
list e D ia m o n d M atch C o . 100 127 127*2
Railroad
Stocks.
134
Week aid in//
Slate
U. S.
&c.
D ouglas C o p p e r_______
5
115
*U4
Oct. 29 1909.
Shares.
Bonds.
80
Bar value.
Bonds.
Bonds.
d u P o n t(E X )(ic N e m P o ,1 0 0 120 128
08
■'91 90
e P r e fe r r c d __________ 100
Saturday __________
32,834,000.
313,000
89
651,998 $59,974,800
88
eG old 4 ‘A s 1 9 3 0 ._J & D
Monday ___________
76,010,009
3,786,OOOi
60,500
832,350
Ferry C o m p a n ie s
E c o n ’ y L t & P (J o lie t. Ill)
91
Tuesday____________
2.757.500
49,000 $20,000 B & N Y 1st 6s 1 9 1 1 .J-J
73,942,409
96
98
828,599
1st M s f g 5s 1 9 5 0 .J - l)
3,581,000'
87,500
25
10,000 N Y & E R F erry s t k . 100
Wednesday ________
25
78,786,500
817,945
20
E lectric B o a t__________ 100
69
2.921.500
66,500
Thursday_____
80,141,700
65
865,942
1st 5.3 192 2................M-N
P r e fe r r e d ___________ 100
98
4,285,000
49,000
F rid a y ________
1,047,598 107.157,300
N Y & H o b 5s M ay '4 6 . J-D
E m pire S te e l__________ 100 *1*3*‘
H o b F y 1st 5s 1946 M-N 106
78
P r e fe r r e d ___________ 100
95
5,074.432 S479,012,700| $20,165,000
8325,500 $30,000 N Y & N J 5s 194 6____ J-J
T o t a l...........
^Federal S ugar o l N Y -A c e Stic E x list
38
10th & 23d Sts F e r r y . 100
93
91
G eneral C h em ical___ 100
67
1st m tge 5s 1 9 1 9 ..J -D
e P re fe rre d __________ 100 104 107
Week ending Oct. 29.
Jan. 1 10 Oct. 29.
Sales at
29
e U nion F e rry s t o c k . .1 0 0
G oldfield Consol M in e s .10 * 7*10
New York Stock
951
2
♦ 11
G o d Hill C o p p e r _____
1
e 1st 5s 1920..............M-N
1909.
|
1908.
1909.
|
1908.
Exchange.
♦ 11*2 IF’ 4
G re e n e -C a n a n e a _____ 20
G uggenheim E x p lo r ’ n 100 215 220
Short*Term N otes
2,651,684
5,074,432
177,056.409
149,443,874
Stocks— No. shares___
0S3g
9S7g
eH a ck e n sa ck w a t e r Co
Par value_________ $479,012,700 $243,330,650 $18,311,129,325 512,955,419,250 Am Cig ser A 4s ’ 1 1 ..M - S
073g 08
91
89
S er B 4s M ch 15 ’ 12 M -S
R e f g 4s ’ 52 o p ’ 12 .J & J
$500
$11,400
$81,300
3127,500
Bank shares, par_____
60
55
9 9' 8 1001g Hall Signal C o _________10O
•Ym T el & T el g 5s ’ 1 0 . j - J
Bonds.
10034
100
8
0
H avan a T o b a c c o C o . .1 0 0
S30.000
32,000
Government bonds___
$561,700
$473,620 At'.an Coast L 5s ’ 1 0 . M -S
80
15
23
P r e fe r r e d ___________ 100
325.500
487,500
31,646,400
State bonds__________
73,319,500 Ctn H a m & D 4 H s ’ 0 8 .M -S / 65
9611 07
s00>4
1st g 5s June 1 ‘ 2 2 . J-D
Col tr g 4s 101 3_____J-J
20,165,000
20.618,000
H it. and mlsc. bonds.
706,557,700
1,082,612,100
1003,| IOII4 H eek cr-Jon es-Jew ell Mill
C C C & St L 5s, Ju n e ’ l l
1st 6s 1922................ M -S 10012 10812
Total bonds.
S20.520.500I S21.107.5001 SI. 1U .820, 20 o!
$ 780,350,820 Erie 6s, A p r 8 1 9 1 1 . . A-O 10234
10312 H e r’g -H a ll-M a r, n e w . 100
45
35
In te rb R T g 0s 1911 M -N
US34 H o b o k e n L a n d & Im p .lO O
95
KC R y & L Ig h t 6s ’ 1 2 . M -S
D A IL Y TRAN SACTIO NS AT T H E BOSTON AN D P H IL A D E L P H IA
99 14 993*
907g
L a ck Steel 5s g 1910.A 1-S
c 5s 1910__________ M &N
EXCH AN GES.
812 834
997g 1001g H ou ston O il___________ 100
Lake Sh& M So 5s '10 F -A
38
40
Lou & N ash g 5s '10.A 1-S 100U 10O5g
P r e fe r r e d ___________ 100
Boston.
Philadelphia.
99(g 1 0 0 ‘ S H udson R e a lt y _______ 100 100 110
Mtch C en t 5s 1910___ F -A
Week ending
75
9812 99
Minn & S t L g 5s ’ l l . F - A
e In g e rs o ll-R a n d c o m .1 0 0
Oct. 29 1909.
Listed Unlisted
Bond
Unlisted
Bond
Listed
997* 1001g
90
N Y Cent 5s 191 0_____F-A
c P re fe rre d __________ 100
shares. shares.
sales.
shares.
shares.
sales.
N Y C Lines E q p 5s ’ 10-27 645g% 4.20 Intcrn atT B a n k ’ g C o . 100 115 155
N Y N H & II 5s ’ 10-’ 12 100 10112 In te rn a t’ l M or M ar— Sec S tk Ex list
Saturday____________ 18.157
$66,400
9,667
$32,500 N o rf & W est 5s 1910 M -N IOOI4 lOO'-s Intern ation al N ic k e l ..1 0 0 130
15,193
7,003
Monday_____________ 29,422
54.000
11,134
51,500 Pa R R 5s M ch 15 ’ 10 M -S IOOI4 10012
17,023
15,793
8J *9*1*
P r e fe r r e d ___________ 100
T u esd a y ____________ 45,013
30.000
8.312
15,748
37,800 P u blic S ervice C orp 5s— See St U> s
9,096
9 il2 9212
1st g 5s 1932.......... A& O
25,799
09,500
Wednesday_______ _
17,876
13,712
15,990
02,900 St L & San Fr g 5s ' 11 J &J
9i 2 19*2
98
9914 In tern ation al S a lt____ 100
76.000
31,037
12,059
T h u rsd ay___________ 22.835
58,600
25,907
95l2 uoi2
/
45
55
1 YiVag n o tc s ’ 12op F & A
1st g 5s 1 9 5 1 .............A-O
39.220
100,000
10,856
38,959
Friday _____________ 31,412
89,700 Sou th R y g 5s 1 9 1 0 ..F - A
997g 100 lg In tern ation al S l i v e r .. 100
7*2 11*2
Southern R y 6s 1911.A1-N
99 101
P r e fe r r e d ___________ 100
97.355 $333,000 T id e w a te r 6s, 1913, guar foY 102
Total_____________ 173,2681 117,246 8395.9001 107,2421
1st 6s 191 8________ J -D 109 111
W e stln g h ’ c E l& M 6s 1910 100 10034 Internat S m elt & RofglOO 132
Jones & Laughlln Steel Co
Railroad
1st s f g 5s 1 9 3 9 . . M -N 1013 10214
25l2 2612 L ack aw an na S te e l___ 100
59
Chic G t W e st c o m (w 1) 100
61
55
66i: Lanston M o n o ty p e ___ 20
♦ IUI4 PJ 12
All bon d pri c s are n o w “ and in te re s t" e x c e p t w here m ark
ed ”" ff . "’ ’
P referred (w 1)_____100
ked
C h ic P eo & St L p r c f- ,1 0 0
260
L a w yers’ M tge C o ____ 100
D e p o site d s t o c k _______
>Lch & W llk e s-B Coal 50 1*2*5
Bid As*
S ircet R a ilw a y s
Bid As*
Street R a ilw a y ;
U n d ep oslted s t o c k ____
L ord & T a y lo r _________100 100 1* 1*0 *
N ew Y rk. Cit'd
Pu b Serv C orp N J (Con)
98 103
P rior lien g 4 H s ’30M &S / 86
P r e fe r r e d ___________ 100
18
25
B lo e c k S t & Ful F s t k . 100
R a p id T ran St R y _ _ 1 0 0 240 250
Con m tg g 5s 1 9 3 0 .J& J / 48
eLorlllard (P) p r e f___ 100 130
00
65
1st 5s 192 1.......... A-O
106
c l ; t m tge 4s 1 9 5 0 .J-J
—
25
*4*6“
In c o m e 5s, J u ly 1 9 3 0 ..
M adison Sci G a r d e n ..1 0 0
J G H o b & P a te rso n —
e B ’ y & 7th A v e stk __100 140 155
"oYi
80 100
C h icago S u b w a y _____ 100
7
2d 6s 191 9................ M-N
7812 79*2 F t W & D en Cy s t d ., 1 0 0
4s g 1049.......... M-N
c 2d m tre 5s 1914__ l-J 1 98 101
9712 102
♦2I4 23g
M
anhattan
T
ra
n
sit___
20
St
So J Gas E l& T ra c.lO O 132
Con 5s 1043— See Stock Exc
Kansas C ity S ou 5s A p r 1
M itchell M in in g_________10
99 100
G u g 5s 190 3___ Al-S
B ’ w ay Surf 1st 5s gu 1924 102 104
1050 (w 1) — See Stock E x c list
612
M onongah ela R C o a l . . 50
c Cc.ut’ l C rosst’ n s t k . . 100
N o H ud Co R y Gs’ 14 J-J 104*2
N at R y s o f M e x ico — See S tk Ex list
P r e fe r r e d ____________ 50
95
- 1st m tge Cs 1 0 2 2 .M-N / 80
5s 102 8.....................J-J 104 105*lo N o rth ’ n Securities S tu b s . 115 133
M ortgage B on d C o ___ 100 llY Y 115
50
0 Ccn P k N & E R s t k . 100
30
E x t 5s 1924____ M -N 100 103
P itts Bess & L E _______ 50 *3312 35
N at B ank o f C u b a ____ 100 ttlOU n o
e Chr’ t’ r & 10th St stk 100
80
90
P a t C ity c o n 0s 3 1 . J-D 119 122
72
P r e fe r r e d ____________ 50 ♦68
N a t’l S u r e t y __________ 100 185
C ol& 9th A v e 5s See S to c k Ext list
2d 63 o p t 1 0 1 4 ._ A - 0 100
e R a ilroa d Securities Co
N evada C on s’ d C o p p e r 5 ♦2434 f s
D ry D E B & B—
Icago
list
So Side El (Chic)
See Ch
90
III C stk tr cfs ser A '52
N e v -U ta h Min & S m . 10 ♦1*18 1710
e 1st gold 5s 1 9 3 2 ..J -D
97*2 100 S yracuse R T 5s ’ 4 0 .M & S 103 105
S ea b oa rd C o m p a n y —
49
60
eN cw Central C o a l___ 20
50 Trent P & H 5s 1 9 4 3 .J -D 100 102
c S crip 5s 1914____ F-A I 42
73
1st p re fe rre d _______100
N Y A ir Brake 6s— See Stk E x c list
E igh th A v en u e s t o c k . 100 250 300
U nited R y s o f St L—
C om & 2d pref— See Bal t E xc
/io o
N
Y
Biscuit
6s
1911
_M
-S
e Scrip Ge 1014___ F-A 1 95 100
20
21
C om v o t tr c t ls _____100
Seab oard A ir Line—
36
*4*5*
e N ew Y o r k D o c k ____ 100
e 42d & G r S t F ’ y s t k . 100 200 220
08
e P re fe rre d __________ 100
68*2
99
99!
78
81
Coil 5s e x t M ay ’ l l M -S
e P re fe rre d __________ 100
42d St M & St N A v e 100
G en 4s 1934— See S tock E x c list
983g N Y M tge & S e c u r it y - 100 236
W
est
P
a
c
1st
53
'3
3
__M-S
0734
c 1st m tge Cs 1 9 1 0 .M -S
99 10e3g U n itR y s San F ran See Stk E x c list
♦ 414 "*6 ”
N Y T r a n s p o r t a t io n .. 20
2d in com e Gs 1 9 1 5 .J-J / 50
------ jJWash R y & El C o ___ 100
45*2 47
Industrial and M isccl.
N lle s -B c m -P o n d c o m .1 0 0 104 108
In ter-M et— See Stic E x ch angc list
93
94
'
P r e fe r r e d ___________ l o o
95
A d am s E xp g 4s 1947 J-D / 94
N lplssing M ines_______
5 ♦ 11*8 11*4
L o x A v & P a v F Is See Stk E xc list
4s 1 95 1.................
J - d87*2
J
88*2 A h m eek M in in g_________25 ♦205 s210 c O ntario S ilv e r_______ 10C
2 I4 3
M otrop ol St R y — See Stk lin e list
115 120
58
O
tis
E
le
v
a
to
r
c
o
m
____
100
A
llia
n
ce
R
e
a
lt
y
_______
100
60
N in th A v en u e s t o c k ..I C O 160 170 I
G as Securities
96
98
AU
ls-Chalm
ers
Co
1st
m
tg
P
r
e
fe
r
r
e
d
___________
100
18
20
S econ d A v en u e si^ ck .lO O
•Veto York
E x c list
s f 5s 1936— See S to ck
P ittsbu rgh B r e w in g .. 50 ♦2312 2334
96 100
c 1st m tge 5s 1 9 0 9 .M-N
.'c n t U n Gas 5s ’ 2 7 . . J-J 101 s 1021 ? A m erican B o o k _______ 100 150 160
♦41
42
P
r
e
fe
r
r
e
d
____________
50
75 Con Gas (N Y ' — See Stk Exe list
Consol 5s 1943____ F -A 1 70
A m erican B rass_______ 100 115 120
P ittsburgh Coal— See Stk E xc list
115 130 e M utual G a s . . .............100 147
0 S ixth A v en u e s t o c k . 100
—
A m erican C hicle c o m .1 0 0 225 233
50
P op eM fgC o com (nevv) 100
55
60
85
So * B ou lov 5s 1945____!-J
New A m ste rd a m G as—
P r e fe r r e d ___________ 100 105 108
81
P referred (n e w )____ 100
84
89
93
So Fer 1st 5s 1 9 1 9 .. . A - O
Is con sol 5s 1048___l-J 100 1011 ? A m G ra p h o p h o n c c o m 100
13
P ratt & W h itn e y p r e f-1 0 0 100 105
T h ird A v e n u e — See S tock E x c list
N Y & E R G a - 1st 5s ’ 44 J-J 103 105
P r e fe r r e d ___________ 100
28
P rodu cers O i l ------ ..1 0 0 125 130
80
'Tarry W P & M 5s 1925 / 50
95
99
Consol 5s 194 5_____ J-J
A m er H ardw a re_____ 100 132 134
R e a lty A s s o c (lik ly n ) .1 0 0 133 138
85
95
32
Y k e rs S tR R 5 s 1916 A -O
40
N Y & R ic h m o n d Gas 100
A m M alting 6s 191 4__J -D 10312 10412 R oy a l Bale P o w d c o m .1 0 0 165 170
20
25
28tll& 29th Sts 3s ’ 9 0A -O
08 100
N or Un 1st 5s 1 9 2 7 ..M -N
95 106
A m e r Press A s s o c ’ n ._ 1 0 0
P r e fe r r e d ___________ 100 10/ 110
0 T w e n ty -th ird St s t k . l o o 400 250
30
- Stan d ard Gas c o m . .1 0 0
55
Am vSoda F ou n t c o m .1 0 0
•a
S a fe ty C ar H e a t & L t.1 0 0 142 144
U nion R y 1st 5s 1 91 ' _ F -A 100 102
60
e P re fe rre d __________ 100
80
20
1st p re fe rre d _______ 100
Seneca M in in g__________ 25 ♦75
60
75
W estch est 1st 5s '43 J-J
102
1st 5s 193 0________ M-N
100
2
2d p re fe rre d _______ 100
1*8*5**
S inger M fg C o _________100 4/0
Brooklyn
Other C ities
A m S t Fou nd new — See S tk Ex list
19
S outh 1 & S c o m (w 0 -1 0 0
19*4
A tla n A v e n u e R R —
A m Gas & E l e c c o m . . 50 ♦45
46
6s 1935....................... A & O 101 104
4912 5112
Preferred (w 1)_____100
98 101
C on 3s g 1 9 3 1 _____ A-O
P r e fe r r e d ____________ 50 ♦43
45
70
72
D e b 4s 1923..............F& A
Stan d ard C o rd a g e____ 100
1*2
95 IOO
B B & W K 5s 1 9 3 2 ..A - O
Ymer L ight & T r a c t . .1 0 0 263 268
21212 215
A m erican S u r e t y _____ 50
f
22
25
1st M g 5s *31 r e d .A -O
B rook ly n C ity S t o c k . 10 194 198
Pre e r r e d ___________ 109 104 100
+4U
5
A m erican T h rea d pre(
5
4*2
A d ju s t M 5s A p r 1 1031 / 3 *2
Con 5s— Sec Stk E xch rm^e list
1
Ilay S tate G as__________ 50
h
A m T o b a c c o Co c o m . . 100 445 450
20
30
Standard C ou pler com 100
97 102 B ln gh ’ t ’ n (N Y ) Gas VVks
B k ln H g ts I t 5s 1941 A -O
45
50
A m e r T y p o fd e rs c o m .1 0 0
P r e fe r r e d ___________ 160 100
llk ln (Juecas Co & Sub—
1st g 5s 1038...........A& O
98*2 100
97 101
P r e fe r r e d ___________ 100
16
S tand ard M illing C o . . 100
18**2
99 lOUj B rooklyn Un Gas— 6’ eeStk E x c list
a 1st g 5. '41 o p '1 6 . J-J
A m er W ritin g P a p e r . . l o o
55
4
3
67
P r e fe r r e d ___________ 100
Con guar 5s— Sec Stock K xs list
6
0*2
B uffalo C ity Gas s t k . .1 0 0
25
P r e f e r r e d ..
.1 0 0
S3
27
1st 5s 1030_________M-N
87
Ilk lyn R a p T ra n — See Stk E xc list
1st 5s 1947— See Stock E xo list
1st s r g Gs’ lO o p ’ 0 0 .J -J
87
69
Standard Oil o f N J . .1 0 0 709 702
85 100
C on ey 1st & I l k l y n .. t o o
90
Con Gas o f N
5s ’3 0 . l-J
94
lllo Sw ift & C o — Sec H ost Stk Kxe list
10
A t lG f& W ln d S S L tn c 3 .l0 0
Oo
1st cons g 4s 1 9 1 8 .. J - ,
80
Consum ers L II & P o w —
P r e fe r r e d .................. .1 0 0
25
1st 5s 1 9 1 0 -1 9 1 4 .. . J - J 100 1001*
27
85
75
C on g 4s 1 9 5 5 ____ J& J
5s 1 9 3 8 ...................-_ J -D 110
Col tr g 5s 1959____ J-J / 69
71
T e x a s C o m p a n y ----------100 160 165
05 100
B rk O & N 5s 1039 J-J
D enver Gas & E lec __100 ■’
147
B a rn ey & Sm ith C a r . . 100 n40
00
eT cxa s & P a cific C o a l. 100
90 100
G r 'p ’ t& L orS t 1st 6s M &N
95
G en ;; 5s 1949 o p .M -N
96*2
P r e fe r r e d .
i o o 103 120
T itle Ins Co o f N Y ___ 100 153 168
K in gs C E. 4s— See Stock E x c list
Elizabeth Gas L t C o . .1 0 0 275
B eth l’ m Steel Corp— Sec S tk Ex list
T
o
n
o
p
a
h
Min
(N
evada)
1
♦012
7
N assau Elo pref
100
Essex & H u dson G a s . 100 135 137
Bliss C o m p a n y c o m . . 50 125
T ren ton P o tte rie s co m 1 JO1
6
10
5s 1944____________ A-O
74
103 107
Gas & El B ergen C o . .1 0 0
76
P r e fe r r e d ___
50 125 130
P referred , n e w ____ 130
55
65
1st 4s 1051— See S tock ISxj llSs
90
102
e G r R a p 1st 5s ’ 1 5 . F-A
B o n d & M tge G u a r . . .1 0 0 270 277*2 T r o w D ir e c t o r y _______ 100
27
30
90
N W ’ bg& F lat 1st ex 4 Ms
95
H u dson Co G as_______ 100 131 133
B o rd e n ’ s Con d M ilk . .1 0 0 120 123
U nion T y p e w r ite r comlOO
65
69
S te in w a y 1st 6s 1 9 2 2 .-J -J 102 106
2/
30
Indiana L igh tin g C o . . 100
P r e fe r r e d ___________ 100 105 110
1st p r e fe rre d _______ 100 112 115
Other C ities
C3
4s 1958 o p ................ F-A
70
B ritish Col C op p er __
*7*g 714
2d p r e fe rre d _______ 100
115
B u ffalo S treet R y —
25
40
Indian ap olis G as______50
B u tte C oalition Alining 15 ♦2?7g 28*4 U nited B k N ote C o r p . 50 ♦51
54
1st consol as 1 9 3 1 .F -A 107 109
80
1st g 5s 1052........... A -0
90
21 •> 4
Casein Co o f A m c o m .1 0 0
P
r
e
fe
r
r
e
d
____________
50
♦5212
64*2
D eb Cj 1017............. A-O
1U6 108 Jackson Gas 5s g ’ 3 7 . A-O
95
Preferred
100
6 ) “ 73
U nited Cigar M frs____ 100
70
80
C olu m bu s (O) St R y __1 0 0
95*2
e L a clede G as__________ 100 10 1 !; 1015* C asualty Co o f A m e r . .1 0 0 125 140
e P re fe rre d ____________ 100 107 n o
P r e fe r r e d ___________100 103 100
e P re fe rre d __________ 100 ____ 100
C elluloid C o___________ 100 130 133
U nited C o p p o r_________100
018 9*4
C olu m R y con 5s— SeePhl la list
M adison Gas 6s 1 9 2 0 . A.-0 103 108
Cent Firew orks c o m . .1 0 0
0
9
P r e fe r r e d ___________ 100
20
29
C rosst'w r 1st 5s '33 J-D 102 106
N ew ark Gas fls 1 9 4 4 ..Q -J 130
P referred
______ 100
65
65
U S C a su a lty__________ 100 215
f C onn R y & L tg c o m .1 0 0
74l2 V6*2 N ew ark C onsol G a s ..1 0 0 100 101
Central F o u n d r y ______100
3
4
U S E n v e lo p e c o m ___ 100
66 *
52
e P r e fo r m _
lO"'
80
85
c Con g 5s 10 4 3 ___ J -D 106 107
P referred
______ 100
13
15
P r e fe r r e d ___________ 100 110
113
1st & ref 4 ’A .— see Stk
list
No H u d son I, H * P o w —
D eb 6s 1910 o p '0 1 . M -N
68
72
U
S
F
in
ish
in
g
_________100
118
130
G rand R apids R v _ _
100 105 10/34
Os 1938....................... A& () n o
C h escb rou gh M fg C o . .1 0 0 550 580
P r e fe r r e d ___________ 100 110 116
P r e fe r r e d _____
up
85
90
Pacific Gas & E , c o m .lO o
55*2 ft7* C ity In v e stin g C o ____ 100
00 J 65
U S Steel C o rp o ra tio n —
e LoillsV St 5s 1 93 0__Jf;J 10/ 108
P r e fe r r e d .......... .......... 100
89*2 Ool?
P r e fe r r e d ___ ________100
98 103
Col tr s f 5s ’ 51 o p t ’ l l 11434 116**
L y n n & B os 1st 5s ’ 24 J -D 1 5 107
Pat & Pas G as& E lec.lO O
94
97
Claflin (H B) c o m . . .1 0 0 102
Col tr s f 5s ’ 51 not o p t 11434 116*j
0 N ow Orl R y s & L g t.1 0 0
225g 233,
c Con g 5s 194 9___ M -S 101
102*2
e ls t p re fe rre d ______100
90
95*" U S T it Gu & In d e m .-lO O
60
c P referred_____
16 ;
57 St J osep h Gas 5s 1 9 3 7 .J-J
93
97
c2(l p re fe rre d .............100
90
eU tah C o p p e r Co— Sec S tk E xo list
Gen M g 4 H s ’35 SceS
Col & H o ck C oa l& I pf 100
78
95* W a te rb u ry Co c o m ___ 100
P u b Serv Corp o f N J 100 103 100
K
lecfric
C
om
pa
n
ies
1st
g
5s
1017.............J-J
90
P r e fe r r e d ___________ 100
95
T r ctfs 2 % to 0 % per net
C9 101 Chlca o Kells n C o— See C dcag 0 list
Col tr 6s O et 195C...T-J
98 104
W e stch e ste r & B ro n x T it
N o rth Jorsey St R y .lO O
50
K in gs Co El L & P Co 100 130 132
Consol Car H e a t i n g .. . 100
2712 30
& M tge G u a r_______ 100 155 1M
1st 4s 1045______;.1-N
79I2 81
\'a ra g a n (P ro v ) El C o . 50 ♦91*2 93
Cons
R
y
L
gt&
R
c
f
r
lg
.
100
W cs tln g h ’ so A ir B r a k e .50 ♦138*2
Cons T r a c t o f N J __10s
76
77
N Y & y El L & P o w C o .lO O
40
45
Consol R u b b e r T i r e . . 100
’ *6*" W est El & M fg 5s— SeeStk E xo list*
1st 5s 1033...........:-l>
10512 166
P referred __________ 100
71
75
P r e fe r r e d ..................... 100
23
W h ite K n o b M in___
10
N e .v ’k P a s R y 5s ’30
108 110
U nited E lec o f N J ___ 100
75
D eben tu re 4s 1951 A & O
30
P r e fe r r e d ____________ 10
1<t t 4s 194 0..............J-D
79
80
W o rth in g P u m p p r o f. 100
l .. • P e r share, a E x -righ t
l B asis.
vis an i !C. F x ., b u t n ot v e r y a c tiv e . / F la t p rice, n N o m . 5 Sa e p rice , x K x -d lv . y E x -rig h ts. e N ow »to o k .

Volume of Business at Stock Exchanges

Telegraph & T elep h on e Bid
c A m e r T e le g & C a b le . 100
75
c Central & So A m e r ._ 1 C 0 113
C om in ’ l Un T e l ( N Y ) . 25 110
lim p & B a y S ta te T e l-1 0 0
65
F ran k lin _______________100
43
e G old & S to c k T e le g . 100 105
N Y & N J T e le p h — See St k E xc
e N orth w estern T e le g - 50 108
70
P a cliic & A t la n t ic ____
92
S outhern & A t la n t ic . _

Ask
85

ft

,

___________ Outside Securities_______




2

__

112

Imrestmml and Itailroad Intelligjence,
RAILROAD

GROSS

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
/an be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 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
period
The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Earnings.
W eek or
M onth.

Current
Year.

P revious
Y ear.

I.atest Gross Earn ings.

July 1 to Latest D ate.
Current
Year.

P revious
Year.

$
S
Ala N O A T e x P a c
721,826
862,966
52.000
73.000
N O & N E a s t . . 1st wit O ct
378,058
425,237
27.000
35.000
Ala A V Ick sb ___r 1st w k O ct
349,204
371,012
22.000
20.000
V icks Shr & P a c.r 1st w k O ct
13,308
17,414
4,540
6,153
Ala T cn n A N o r t h - .Septem ber
22,433,361
25,434,887
7,024,794
8,732,775
.S
eptem
ber
k A tch T o p & S F c .
504,309
742,085
43,020
51,947
A tlanta Blrm & Atl Bd w k O ct
A tla n tic C oast Line A u g u s t ___ 1,794,562 1,575,574 3,657,603 ,3,317,912
oB altlm ore A O hio . Septem ber 7,767,836 6,668,412 22,221,337 .9,643,093
376,687
445,135
195,352
26,09
B a n gor & A roostook A u g u s t ___
17,851
14,375
5,801
B ellcfon tc C en tral. _ ^September
0,794,514
7,674,900
3,519,391
B oston & M aine___ r A u g u s t ___ 3,052,534
ii.t -1 7
10,963
5,068
B ridgeton & S aco R A u g u s t ___
2,979,679 2,415,144
168,750
B u ll R o c h A P it t s .r 3d w k O ct
351.733
426,978
224,875
B u lfalo & S u sq ___r A u g u s t ___
3,654,300 .3,165,100
328,100
C anadian N orthern Ad w k O ct
29,350,193 23,973,510
Canadian P a cific___ Id w k O ct 2.417.000
3,633,035 3,518,803
281,000
Central o f G eorgia- Id w k O ct
Central o f N ew J e r . A u g u s t ----- 2,207,931 2,151,942 4,493,941 4 ,316,066
622,237
668,774
33,745
341,790
Central V e r m o n t ..r A u g u s t ___
1,311
1,716
C h atta n ooga South 3d w k Sep
9,578,636 8,306,528
636,767
C hesapeake & O h io . 3d w k O ct
4,417,119 1,270,279
338,480
C h icago A A lton R y 3d w k O ct
14,726,611 13,189,767
C h ic Burl A Q u in cy A u g u s t ___ 7,000,803
1,379,888 1,393.277
262,415
C h icago G reat W ent 4th w k A u g
1,670,659 1,743,309
115,885
Chic In d A L o u ls v . 3d w k O ct
Chlc Ind A Southern — Sec Mew Y ork Ccn tral.
10,769,458 9,991,869
C h ic M llw A St Paul A u g u s t ___ 5.550.001
19,738,375 17,529,055
Clilc A N or W e s t .. r S eptem ber 7,237,340
3 ,767,217 3,3 8 0 ,9 7 0
Chic St P M A O - . r S e p te m b e r 1,423,223
1,091,817 1,005,518
01,684
C h ic T erm T r a n sR R J u n e _____
1,575,499 1,406,387
820,450
Cln H a m A I ) a y . . r A u g u s t ___
Clev Cln Chic A St L — See New Y ork Ccn tral.
395,372
392,190
192,110
August . . .
C olorado M idland
5,071,114 4,713,400
350,443
h C olorado A South 3d w k O ct
37,930
42,321
22,408
C olum N ew b A Lau A ugust
75,809
77,921
77,021
J u l y ..........
C op p er R a n g e .
14,288
42,624
14,633
S ep tem ber
C o r n w a ll_____
40,532
75,582
36,471
Cornw all A L e b a n . A u g u s t ___
281,029
325,038
163,200
August .
C uba R a ilr o a d ____
.3,003,14.3
3,248,916
1,662,778
l D elaw are A H u d . A u gust .
6.055.424 5.475.010
D el L a ck A W e s t - .r A u g u s t ___ 2.887.198
7,066,990 0,741,324
531,300
D en y A R io G rande 3d w k O ct
273,300
360,006
19,221
D en ver N W & P a c . 2d w k O ct
504,782
469,424
32,001
D ot T ol A Iron t sys 2d w k O ct
578.529
534,770
37,456
A n n A r b o r _______2d w k O ct
356,092
392,539
25,367
D etroit A M ackinac Id w k O ct
2,750,162 1,922,0.32
D ul A Iron R a n g e .r A u g u s t ___ 1,395,856
1,130,635
873,793
74,511
D ul S ou Shore A A tl 3d wk O ct
1,189,084 1,059,710
582,850
El Paso A Sou W __r A u g u s t ___
12,895,010
13,714,450
4,875,173
E r i c ________________ S eptem ber
; cm .
E vansville A T erre lla u tc — See H ock Is
5,618
4,907
1,995
Fairchild A N or E __ S eptem ber
224,720
.
250.468
70,507
F on d a John s A G lov Septem ber
423,735
427,943
226,250
G eorgia R a ilroad . . A u g u s t ___
G eorgia Sou th A Fla — See Sout hern Rat
0 14,141,876 12,937,803
004,674
G rand T ru n k S y s t . . 3d w k O ct
1 1,817,598 1,080,739
124,466
Gr T ru n k W e s t .. 2d w k O ct
519,393
3
581,878
38,090
2d
w
k
O
ct
D et Gr H a v A MU
585,536
3
621,334
41,093
Canada A tlan tic. 2d w k O ct
7 17,420,519 14,772,742
G reat N orthern Syst S eptem ber 6,547,668
262,771
7
313,858
157,928
G ulf A Ship Isla n d . A u g u s t ___
1 1,175,447 1,145.835
644,181
H o ck in g V a lle y ____ August . . .
8 14,689,094 13,740,084
Illinois C e n t r a l____ S e p te m b e r 5,014.564
) 2,541,982 2,381,969
189,000
In tern a t A G t N o r. 3d w k O ct
3 1,908,37.3 1,912,282
159,606
a In teroccan tc M ex . 3d w k O ct
i 1,017,816
950,318
77,251
Io w a C en tral_______ 3d w k O ct
1
452,207
409,080
238,213
K anaw ha A M ic h .. A u g u s t ___
2 2,156,773 2,177,384
734,164
K ansas C ity S o u th . S eptem ber
0
_______
35,000
It C M ex A O rien t. 3d w k O ct
Lake Erie A W est'll — See New Y ork Ccn
0 8,508,325 8,2 8 7 ,2 0 5
L eh igh V a lle y _____ S ep tem b er 2,887,555
72,689
77,3'R
35,86'7
41,492
L exin gton A E a s t .. A u g u s t ___
In c . 2,1 8,913
In c. 12 1,296
L on g Isla n d ________ A u g u s t ___
184,008
0
200,14!.
100,058
Lou isiana A A rk a n . A g u u s t ___
165,174
5
186,40102,499
L ou lsv H end A St L August
0 15,208,887 14,186,380
L ou isville A N a s h v . 3d w k O ct 1,053,175
35,571
9
34,521
12,854
M acon A B lrm ln g’ m S e p te m b e r
1,519,549
0 1,641,60847,768
Maine C en tral-------r A u g u s t ___
10,059
3
10,18f
3,449
S eptem ber
M anlstlquc
104,251
2
109,441
40,377
M aryland A P c n n a . S eptem ber
2
108,854
7
2,279,02"
3d
w
k
O
ct
161,545
a M exican In te rn a t.
1,992,700
0 2,230,001
140,300
a M exican R a ilw a y . 2d w k O ct
6
3 6 3 ,21£
369,272
25,887
a M exican Southern 2d w k O ct
M ichigan Centra1— See New Y ork Ccntr
9
273,54?
266,121
16,168
3d w k O ct
Mineral R ange
2 1,649,28.’ 1,409,484
140,110
M lnneap A St Louis 3d w k O ct
1 8,029,471 0 ,953,077
558,683
M inn St P A S S Ml 3d w k Oot
C hicago D iv is ion /
M issouri K an A T e x August — 2,170,360 2,200,7700 4,093,22? 4,0 6 9 ,0 3 7
M o Pae A Iron Mtl
0 1 6 ,470,19! 14,383,274
Central B ra n ch . 3d w k O ct 1,116,000
4
445,48
404,850
35,555
& M obile J a ck A K < W k O ct 6
1,758,909
1 1,847,00.'
030,019
N ashv C hat A St I. A u g u s t ___
2 14,192,07 13,734,339
939,334
a N at R y s o f M exico 3d w k O ct
9
182,59
131,007
10,552
N evada-C al-O regon 3d w k O ct
0
11,58
13,923
5,275
N evada C en tral____ A u g u s t ___
9
206,81.
82,120
N O G reat N o r t h .. A u g u s t ___
101.364

ROADS.

e

r
f
r
(

Current
Year.

W eek or
M onth.

A u g u s t ___
L a k e Sh ore A M S A u g u s t ___
n L a ke E A W est A u g u s t ___
C h ic In d A South A u g u s t ___
M ichigan Central A u g u s t ___
Clove C C A St L . A u g u s t ___
P eoria A Eastern A u g u s t ___
Cincinnati N orth A u g u s t ___
P itts A Lake Erie A u g u s t ___
R u tla n d
(A ugust . .
' St L . A u g u s t ___
N Y C 'h ‘ic A
T o ta l all lines____ A u g u s t ___
A u g u s t ___
A u g u s t ___
S e p te m b e r
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
a W e st o f P A E . A u g u s t ___
A u g u s t ___
A u g u s t ___
S ep tem b er
A u g u s t ___

Previous
Y ear.

>uly 1 to Latest Dala.
Current
Y ear.

S
S
,314,867
8,359.672 7,791, ,665
,216,975
4,278,626 3,714 758
888,110
426, 067
497,434
537.041
224, 950
268 812
,694,751
2,4 2 8 ,0 8 9 .144, 490
,917,735
2,620,031 .294, 069
531,048
291,254
238, 391
207,168
110 , 302
118,837
,919,325
1,469,84611 ,130, 105
581,132
300,625
266, 674
,710,129
876,322
755, ,804
,518,275
21509 542 9097 275
857,337
,718,423
850, 737
,197,988
5,127,834 .528, 132
801,991
316,248
241, 133
423,898
207,430
178, 108
,474,307
2,893,006 ,507, 097
,024,151
1,048,836
956, 036
,608,956
6,910,977(5 ,836, 668
,557,369
8 2 2 ,7 8 5 ' 593, 117
,104,479
4,698,062 3,733, 766
13544 999 11644 799(26 ,460,764
In c . 2,59
I n c .1,53 0,7 0 0
,568,030
1.352.634 1 , 2 0 1 ,,032
,028,805
1,510,927 1,389, ,227
,126,621
2.914.635 2,397 ,665
23,403
8 ,133
11,915

Previous
Year.
14,885.463
6,9 7 9 ,1 4 7
816 ,475
416 819
4 ,0 8 5 ,6 7 8
4 ,383,025
455,278
192,497
2 ,125,836
513,084
1,448,545
30,3 0 1 ,8 4 7
1,673,643
8 ,029,955
736,305
362,021
4,8 7 6 ,9 2 2
1,825,151
11,516,193
1.173,106
7,3 2 3 ,7 8 7
22,9 2 6 ,8 6 4
4,900
2 ,258,248
2 ,817,905
6,881,347
17,836

P h lla A R e a d in g . S eptem ber 3,677,901 3 ,380,373 10, 280,764 9,316,748
Coal A Iron C o . . S eptem ber 2,0 3 7 ,8 9 5 2,513,762 5 415,154 0 ,590,556
T o ta l b o th c o s ___ S eptem ber 5,715,796 5,900,135 15, 695,018 15,907,303
292,911
337,633
August . . .
152,906
118,283
138,364
171,365
85,845
65,394
A u g u s t ___
182,106
129.734
2d w k O ct
5,406
13,165
August . . . 5,977,132 5,334,127 11, 393.734 10,013,234
St L A San F ra n . A u gust . . . 3,650,261 3 ,1 7 1 ,9 9 0 " 955,631 6 ,022,645
,823,210 1,628,928
970,080
854,102
C h ic A East I I I . . . A u gust . . .
382 ,6 6 6
424,836
233,582
190,956
/ E v an sv A T er H A u gust . . .
,597,412 18,047,473
T o ta l o f all lin es. August . . . 10831057 9,557,237
274,060
296,496
A u g u s t ___
154,408
149,244
,395,376 3,1 6 1 ,0 9 8
S t L ou is S o u th w e s t. 3d w k O ct
254,981 233,667
,403,291 1 ,072,407
■ "
August . . .
714,207 549,215
,989,662 3 ,5 0 3 ,8 3 0
S e p te m b e r 1,439,456 1,250,842
142,267
162,271
84,459
72,030
A tlan ta A B lr m .r A u g u s t ___
11,059
13,063
6,603
5,561
F lorid a W e s t Sh.r A u g u s t ___
215,863
225,594
August . . .
121,267
113,430
,657,218 3 0 ,033,138
S eptem ber 11531903 10481094
,436,301 1 5 ,832,049
3 d Wk O ct 1,191,581 1,142,462
,059,473 2 ,839,820
192,777
209,286
M obile A O h io ___ 3d w k O ct
,607,061 2 ,387,409
170,575
144,229
Cln N O A T P . . . 3d w k O ct
,140,991 1,075,114
79,470
67,025
A la G t S o u th ____ 3 d w k O ct
526,130
005,422
41,938
38,684
G eorgia So A F la . 2d w k O ct
325,741
289,789
24,247
29,205
T exa s C en tral_____ 3d w k O ct
,491,474 4,201,298
365,267
354,313
T exa s A P a cific ____ 3d w k O ct
11,671
13,011
6,524
5,715
T idew ater A W e s t .r A u g u s t ___
870,777
722,862
304,489
438,224
T o le d o A O hio Cent A u g u s t ___
362,246
354,216
22,162
22,338
T o le d o P e o r A W est d3 w k O ct
,084,713 1,052,679
78,526
79,810
T o ic d o St L A W est 2d w k O ct
15,414
18,851
6,230
5,357
T o m b lg b c e V a ll e y .. S e p te m b e r
,583,841 21,139,749
U nion P a cific S y s t . ^September 8,100,373 7 ,414,595
1,449,987
,527,581
August
.
.
.
805,666
745,061
V a n d a lla _____
304,549
305,077
102,443
111,191
V irginia A Sou W est S eptem ber
,259,197 8 ,415,074
3 d w k O ct
610,951
542,808
W a b a s h ______
,122,655 1,005,778
577,598
529,028
W estern M aryland r A u gu st — .
,583,031 1,463,431
820,450
767,250
W est Jer A S e a s h .. August . . .
,205,829 1,059,282
615,264
532,070
W h eelin g A L E . . r A ugust . . .
1,556
1,012
W h ite R lv (V t )2 w k s end O ct 9
‘ 00',923
* 72*.707
37,270
28,123
W rlg h tsv llie A T e n . S ep tem b er
,192,695 1,086,799
781,443
764,601
Y a z o o A Miss V a il. S eptem ber
P eriod .

V a rious F iscal Years.
B c llcfo n te C en tral____________
1 D elaw are A H u d s o n ________
M a n ls t lq u c ____________________
a M exica n R a ilw a y _____________
a M oxlcan S o u th e rn ___________
e N Y Central A H u dson R iv e r
L ake Shore A M ichigan South
n Lake Erie A W e s te rn _______
C h icago In d ian a A S o u th e r n .
M ichigan C e n tra l_____________
C lev Cln C h icago A St Louts
P eoria A E a stern ____________
Cincinnati N o rth e rn ________
P ittsb u rg h A L ake E r ic___ _
R u t l a n d _____________________
N Y C h icago A St L o u is _____
T o ta l all lines________________
N orth ern C en tral______________
(l P en n — East o f P lttsb A E rie.
(I W est o f P itts A E ric--------P h ila B a ltim ore A W ash in gton
P itts Cln C h icago A St L o u t s ..
R io G rando J u n ctio n ---------------T exa s A P a cific-----------------------W est Jersey A S e a s h o r e ...........

Ian
Jan
Ian
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan

Jan
Jan
Jan
Jan
D ec
Jan
Jan

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

Current
Year.

P revious
Year.

46,392
43,627
to Sept 30
to A u g 31 12,473,593 11,830,006
43,9 0 5
31,454
to S ept 30
to O ct 14 5,925,000 5 ,934,600
975,605
7 1.030.218
to O ct
53.196,059
to A u g 31 58,888,637
to A u g 31 28,462,083 2 4.805,737
to A u g 31 3,055,4 52 2 ,772,593
to A u g 31 1,963,724 1,702,224
to A u g 31 17,285,120 15,416,587
to A u g 31 17,425,757 15,233,750
to A ug 31 1,867,399 1,719,302
731,798
588,411
to A u g 31
to A u g 31 8,701,967 6,213,551
to A ug 31 1,951,187 1,740,575
A u g 31 6,381,602 5 ,957,504
to A ug 31 146714726 129352352
to A ug 31 7,735,245 7,2 5 0 ,4 4 5
to Au«r 31 96,603,713 8 6 ,950,013
In c. 7,39 6,000
to A u g 31
to A u g 31 11,494,016 10,558,015
S ept 30 21,763,381 19,105,890
669,254
553,460
to A u g 31
to O ct 21 11,109,641 10,198,857
to A u g 31 3,981,483 3 ,735,78^

AGGREGATES OF GROSS E AR N IN G S— Weekly and Monthly.
W eekly Sum m aries.

Cur'nt Year Prev's Year
5
10,920,086
11,780,990
10,740,145
11,521,205
12,317,219
12,936,635
17,285,767
13,209,000
13,437,556
13,323,649

S
0,931,209
10,745,592
15,107,527
10,434,381
11,229,609
11,508.456
15,185,92.-)
11,535,885
11,949,105
11,830,737

Inc. or D ec.

%

M onthly Sum m aries.

Cur'nt Year Prev's Year
S
205.216.481
183,223,014
174.497.319
205.708.319
197,011,539
201,625,122
210 ,357 ,22 6
198,465,229
225,488,923
6 2,138,040

S
103,791,645
173,596,903
161,058,607
183,453,906
175,002,648
174,475,411
183,983,829
175,898,726
107,928,775
55.524,845

In c. or D ec.
S
4-11,424,836
+ 0,626,111
+ 13,438,712
+ 22,254,413
+ 2,008,891
+ 27,149,711
+ 26,3 7 3 .3 0 7
+ 22,566,503
+ 27,560,148
+ 6,613,195

%

5.00
M onth D eo 1903 (798 roads) .
+ 9 8 8 ,8 7 7 9.96
w eek Aug (33 r o a d s )------5.54
M onth Jan 1908 (894 r o a d s ).
+ 1,035,308 0.63
w eek Aug (47 r o a d s )------8 .3 4
M
onth
F
e
b
1909
(893
r
o
a
d
s
).
10.81
+
1,632,018
w eek A u g (44 ro a d s )-----12.1J
M
on
th
M
ch
1909
(800
r
o
a
d
s
).
+ 1 ,086,887 10.42
w eek Sep (42 r o a d s )-----12.50
M onth A p ril 1909 (895 r o a d s ).
+ 1 ,087,010 0,69
w eek Sep (45 r o a d s )-----15.58
M onth M av 1909 (893 r o a d s ).
+ 1,428,179 12.41
w eek Sept (45 r o a d s )-----14.33
M onth Jun e 1909 (893 r o a d s ).
+ 2,099,842 13.82
w eek Sept (43 r o a d s )------12.83
M
onth
J
u
ly
1909
(
S
t
O
r
o
a
d
s
).
14.50
+
1,673,115
(42
r
o
a
d
s
)------w eek O ct
13.92
M
o
n
tli
A
u
g
1909
(724
r
o
a
d
s
).
+ 1,488,451 12.40
(47 r o a d s )------w eek O ct
11.0 1
M onth S e p t 1909 (49 roads) .
+ 1,483,912 12.53
w eek O ct (38 r o a d s )------a M exican c u rre n cy . 5 In clu d e s earnings o f G ulf A C h icago D iv is io n , o ju u u u ...i >•*»- . . . .......... . . - - — ■- —
-u rv "n w t h « i it t n i
yea rs,
rdfC
v e r s lin
e s d ire ctly o p e r a te d ,. e* in clu d e s the
ew Y o rk
S t. L
a w ren ce A A d ir o n d a ck an d th e O ttaw a A N , Y .^ R y .^ t h o ^ a t t e l
i
C oovers
lines
tno N
iNew
r k A O tta w a , th
tn ec h
Lawrence
t In clu d es E v an sville A In d ian a R R .
0 In clu d es
o f w hllcli
ich , being a C anadian r o a d , d oes not m ake returns to tho I n te r -S ta te C om m erce C om m ission, d r t W o r th A D en ver C ity and all affilia ted lin es, e ^
th e Clileveland L orain A W h eelin g U v In b o th years, h In clu d es earnings o f C o lo ra d o A S ou th ern , PR R ., P ecos V a lle y S y ste m and San ta I;c P r e s c o tt *
cc p tlrn-' T rin ity A Brazos V a liev R R . fc In clu d es In b o th years earnings o f D e n ve r E n id A G ulf U
P h o e n ix lt y . ' l T h e s e ’ figures d o n o t 'in c lu d e receipts fro m 's a le o f co a l, n Inclu des the N orth ern O h io R R . o
U1n33 here j u e o
b M to o fa w
oountlng-—n ot tho new o r In te r-S ta te C om m erce C om m ission m e th o d , r T h ese figures arc o n new basis p rescribed b y I n te r -s ta te C om m erce c o m
ission,

3d
3d
4th
Is*-,
2d
3d
4 th
is t
2d
3d




Latest Gross Earnings by Weeks.— In the table which
follows we sum up separately the earnings for the third week
of October. The table covers 38 roads and shows 12.53%
increase in the aggregate over the same week last year.
T hird W eek o f October.
A la b a m a G rea t S o u th e r n _______
A tla n ta B lrm & A t la n t ic _______
B u ffalo R o c h e s te r & P ittsb u rgh
C a n ad ian N o rth e r n _____________
C a n adian P a c ific ________________
C en tral o f G e o rg ia _______________
C h e s a p e a k e <5c O h io _____________
C h ic a g o & A l t o n ______________ C h ica go In d ia n a p olis & L o u ls v .
C in cin n ati N ew Orl & T e x a s P a c
C o lo ra d o & S o u th e r n ------D e n v e r & R io G ra n d e —
D etroit & M a c k in a c _______
D u lu th S o u th S h ore & A tla n tic
G ra n d T ru n k o f C a n a d a ----------G ra n d T ru n k W e s te rn _______
D e tr o it G rand H a v en & M llw
C an ada A t l a n t i c ................
J
In tern a tion a l & G rea t N orthern
I n tc r o c e a n ic o f M e x ic o _________
I o w a C e n t r a l ------------------------------K ansas C ity M ex ico & O r i e n t ..
L ou is v ille & N a s h v ille _________
M exica n I n t e r n a t io n a l--------------M ineral R a n g e __________
.
M in neapolis & S t L o u is ------------M in n eap olis St P a u l & S S M ..1
C h icago D iv is io n ------------------- J
M issouri P a cific _________________
M obile & O h io __________________
N ation a l R a ilw a y s o f M e x ic o —
N e v a d a -C a llfo r n ta -O re g o n _____
St L ou is S o u th w e s te r n _________
S ou th ern R a ilw a y _______________
T ex a s C en tra l____________________
T e x a s & P a cific --------------------------T o le d o P eoria & W e s te rn ---------W a b a s h ___________________________
N et

increa se

1909.

1908.

$
79,470
51,947
168,750
328,100
2 ,147,000
281 ,900
636,767
338,480
115,885
170,575
350,443
531,300
25,367
74,511

$
67,025
43 ,020
172,704
275,800
1 ,693,000
240,800
536,497
312 ,699
112,158
144,229
310,698
440 ,200
19,558
58,905

52,300
454 ,000
41,100
100,270
25,781
3,727
26,346
39,7 15
91,100
5,809
15,606

904,674

841 ,160

63,514

189,000
159,696
77,251
35,0 0 0
1,0 5 3 ,1 7 5
161,545
16,168
140,110

219 ,000
123,633
58,522
26,000
965,450
157,087
15,389
105,842

558,683
1,116,000
192,777
939,334
10,552
254,981
1,191,581
24,247
365 ,267
22,162
610,951

477,461
979,000
209,286
901,852
7,969
233,667
1,142,462
29,205
354,313
22,338
542,808

Increa se. D ecrease.
$
12,445
8,927

3,954

IN D U S T R IA L C O M P A N IE S .
- G ross E a rn in g s---------- ------ N et E a rn in g s-------C u rrent
P rev iou s
Y ea r.
Y ear.

30,000
36,063
18,729
9,000
87,725
4,458
779
34,268
81,222
137,000
16,509
37,482
2,583
21,314
49,119
4,958

1908.

In crea se. D ecrease.

5

11,518,744 1,501,404
9,079
43,020
5,175
14,046
39,719
43,768
7,000
27.800
17,200
132,100
3,171
22,716
27,382
79,810

31,893

T o ta l (47 r o a d s )_______________
N et Increase ( 1 2 .4 6 % ) ..................

11,949,105 1,543,029
1,488,451

54,578

6,818
6,312

S

5

8,271
1,284

N et E a rn in g s------C u rrent
P revio u s
Y ea r.
Y ear.
S

_

_

_

— I n t., R entals, <tc.—
P reviou s
Current
Y ear.
Y ea r.

B o s to n R e v e re B each & L y n n —
14,937
J u ly 1 to Sep 3 0 . . . . .
47,550
J an
1 to Sep 3 0 . _____
255,012
C o lo ra d o & S ou th ern . . Sep
761 ,822
J u ly 1 to Sep 3 0 . _____
. .S e p
3,9 5 9
M arylan d & Penn
11,876
J u ly 1 to S ep 30 . _____
880 ,000
R e a d in g C o m p a n y ------- .S e p t
J u ly 1 to S e p t 3 0 . .......... 2,6 4 0 ,0 0 0
8,333
R io G rande J u n c t io n . - A u t
7 5 ,0 0 0
D ec 1 t o A u g 3 1 . ...........
3,803
T e x a s C e n tra l__________ . . S e p
10,907
J u ly 1 t o Sep 3 0 .............

Current
Y ea r.
$
C om pa nies—
104,051
P a cific T el & T e l C o . . . .S e p t
946 ,920
Jan 1 to S e p t 3 0 . _____
P ittsb u rg h Coal C o—
. . . 1,955,706
Jan 1 to S ep t 3 0 .

2 .106,791

$

— B a l. o f N et E ’ n gs. —
C urrent
P reviou s
Y ea r.
Y ear.
$
3

18,104
53,643
276,432
792,953
3,9 7 9
11,876
873,541
2 ,6 2 0 ,6 2 5
8,333
7 5 ,0 0 0
4,233
11,361

2:55,202
2:58,535
C312.884
C 854.I47
1 2 ,4 /4
27,714
751 ,649
1 ,4 2 7 ,4 9 0
1 7 .'2 0
125 776
d e f 2 322
3,803

a:5t,648
2-57.316
C245.779
C730.487
10,696
23,296
774 ,415
1 ,543,602
11,285
111 ,462
12,900
44,843

P revio u s
Y ea r.
$
754 ,742

C urrent
Y ear.
5
217,181
1,762,216

1,971,564

231 ,600

P rev iou s
Y ea r.
$
1 ,2 5 6 ,7 8 5
135,227

c A fte r a llo w in g fo r m iscella neous charges an d cre d its to In com e.
x A fte r a llo w in g fo r o th e r Incom e re c e iv e d .

ELECTRIC RAILW AY AND TRACTION COMPANIES.
Latest Gross E a rn in g s.

$

3,120
2,576
4,5 4 0
A la T e n n & N orth ern — S e p t
6,153
13,308
8,914
7,242
J u ly 1 t o S ep t 3 0 .............
17,414
7 .9 2 4 ,7 9 4 > 3,286,818 > 3,057,545
A tc h T o p & S F e . b . ____Sep 8 ,7 3 2 ,7 7 5
J u ly 1 t o Sep 3 0 ............ 2 5 ,4 3 4 ,8 8 7 2 2 ,433,361 jd ,747 ,485 ) i , 533,098
B o s to n R e v ere B ea ch & L y n n - b —
62,967
62,418
292,242
294 ,549
J u ly t t o S ep 3 0 _______
95,906
654 ,722
93,961
675,281
J an 1 t o Sep 3 0 _______
161,348
626 ,938
325,952
819 ,519
B u ff R o c h & P itts b . . . S e p
995,273
522 ,566
1,897,032
2,4 3 1 ,3 1 2
J an 1 t o Sep 3 0 .
251 .1 0 0
311 .500
901 ,700
C a n ad ian N orth ern — . . S e p 1,076,800
640 .100
2 ,3 7 7 ,6 0 0
745 .500
2 ,7 2 7 ,4 0 0
J u ly 1 t o Sep 30.
2 ,1 1 4 ,6 0 8
6,3 9 1 ,6 7 2
3 ,4 3 1 ,8 9 0
C a n adian P a c i f ic .a . .. ..S e p t 8 ,3 2 3 ,1 7 8
6 ,9 6 8 ,0 3 0
8,8 7 5 ,8 1 9
22,890,193 19,0 7 0 ,5 1 0
J u ly 1 t o S ep t 30
3 0 8 ,6 5 6
1 ,014,608
3 65 ,309
Cen tral o f G e o r g i a . a . ... . .S e p 1,0 6 4 ,9 6 2
666,461
2 ,7 5 8 ,1 6 3
749 ,036
2 ,8 0 5 ,6 3 5
J u ly 1 t o S ep 30.
4
9 0 ,7 5 0
541,069
1,283,002
1,423,223
x C h ic S t P M in n & O . b .S e p
1 ,1 7 2 ,8 9 5
3 ,3 8 0 ,9 7 0
1,267,91:
J u ly 1 t o S ep 3 0 ............. 3 ,7 6 7 ,2 1 7
4
6
0 ,4 4 8
1,282,582
511,830
C o lo r a d o & S o u t h e r n .b - S e p 1,4 0 3 ,6 0 0
1 ,3 8 5 ,1 9 0
3 ,792,831
1,520,726
J u ly 1 t o S ep 3 0 _______ 4 ,0 5 5 ,4 6 7
203
4 ,0 1 6
7.476
C o r n w a ll, b ______________ S ep
14,633
858
14,288
21,165
J u ly 1 t o S ep 3 0 _______
42,624
28,688
92,623
3 4 ,076
D e tr o it & M a ck in a c a . - S e p
107,850
94,092
2 9 4 ,4 6 5
8 7 ,338
316,451
J u ly 1 t o S ep 3 0 _______
1,1 5 7 ,9 9 0
4 ,392,661
1 ,361,939
E rie a ...................... ..............S e p t 4 ,8 7 5 ,1 7 3
3
,4
5
3 ,9 4 0
J u ly 1 t o S ept 3 0 _____1 .1 3 ,7 1 4 ,4 5 6 12,8 9 5 ,0 1 0
3 ,7 6 6 ,0 3 4
Clef 1,411
F a irch ild & N o r t h e a s t -b -S e p
1,995
1,662
d e f 1,595
clef 812
J u ly 1 to Sep 3 0 _______
5,618
4,9 0 7
d e f4 ,5 9 0
35,832
F o n d a Joh n s & G lo'v_____ S ep t
7 9 ,507
67,091
45,331
131,621
J u ly l to S ep t
30
250 ,408
2 2 1 ,7 2 0
152,743
1,1 0 9 ,2 8 6
L eh igh V a l l e y . b _________ Sep 2 ,8 8 7 ,5 5 5
2 ,9 2 6 ,8 2 0
1 ,085,762
J u ly 1 t o S ep 3 0 _______ 8 ,5 6 8 ,3 2 5 8 ,2 8 7 ,2 0 5 3 ,2 9 0 ,1 4 5 3 ,0 5 0 ,3 4 6
14,675
M a ryla n d & P e n n .a _______Sep
4 0 ,3 7 7
37,9 4 2
16,433
35,172
J u ly 1 to S ep 3 0 _______
109,445
104,251
3 9 ,500
2
92
,780
M in neap St P & S S
M .a .A u g 1,204,104 9 6 1 ,3 6 0
489 ,6 1 0
624 ,324
J u ly 1 t o A u g
3 1 2 ,3 4 8 ,0 2 6 1,9 1 1 ,4 6 0
896,968
241 ,180
C h ica go D ivision a _____ A u g 7 2 9 ,8 6 7
677 ,9 6 4
267 ,3 8 5
459 ,2 4 7
J u ly 1 to A u g
3 1 1 ,4 4 8 ,2 7 9 1,3 3 7 ,2 2 0
521 ,567
66,842
N Y Susq & W e s t e r n .a .S e p t
316 ,2 4 8
241 ,1 3 3
78,098
208 ,958
7 3 6 ,3 0 5
197,650
J u ly 1 to S ep t 3 0 _______ _ . 801,991
R e a d in g C o m p a n y —
1 ,3 6 7 ,0 2 6
Phila & R ea d in g C o . b S ep t 3,6 7 7 ,0 0 1
3
3,3
,3 8 6 ,3 7 3
1,552,451
3 ,0 0 3 ,3 1 0
J u ly 1 t o S ep t 3 0 _______ 10,280,764
9
,3 1 6 ,7 4 8
3 ,851,091
9,3
154,439
C oa l & Ir o n C o . b . . . S e p t 2 ,0 3 7 ,8 9 5 2
2,5
,5 1 3 ,7 6 2
def70,921
183,475
6 ,5 9 0 ,5 5 6 d cf2 2 7 ,0 8 7
J u ly 1 to S ep t 3 0 _______ 5,415,154
1 ,.->21,165
T o t a l b o th c o s . b _____ S ep t 5 ,715,790
5,9 0 0 ,1 3 5
1,4 8 1 ,5 3 0
3 ,7 8 6 ,7 8 5
3 ,6 2 4 ,0 0 4
J u ly 1 to S ep t 3 0 _______ 1 5 ,695,918 15,907,303
...............
150,119
126,491
R e a d in g C o m p a n y .. . S e p t
........................................
377 ,442
443 ,4 8 6
J u ly 1 to S e p t 3 0 _______
— ;---------------...............
-----------1
,647,596
...............
1
,631,649
T o t a l all c o m p a n i e s ..S e p t
------------------------4 ,1 6 4 ,2 2 7
..............
4 ,0 6 7 ,4 9 0
J u ly 1 t o S ep t 3 0 ----------------------7119,618
65,394
n 25,753
R i o G ra nde J u n c t io n _____ A u g
85,8 4 5
7*186,462
5 53 ,460
n 2 0 0 ,776
^ t» .U c c 1 to A u g 3 1 _______
669,254




2 ,0 (1 ,5 2 7 '

2 ,1 8 7 ,3 0 6

IN D U S T R IA L CO M PA N IES.
— I n t., R en tals, & c . —
— D al. o f N et E 'n g s .—

Net Earnings Monthly to Latest Dates.— The table fol­
lowing shows the gross and net earnings of STE A M railroads
and of industrial companies reported this week:
-G ross E a rn in g sC u rrent
P revio u s
Y ea r.
Y ea r.

R oads.

$

P re v io u s ly r e p o r te d (38 r o a d s ).
A tla n ta B irm in gham & A tla n tic
D e n v e r N orth w est & P a c ific ___
D e tr o it T o le d o & I r o n t o n _____
A n n A r b o r ____________________
K a n sas C ity M exico & O rie n t. .
M ex ica n R a ilw a y ________________
M e x ica n S o u th e r n _______________
T e x a s C en tra l____________________
T o le d o St L ou is & W e s te rn ____

R oads.

7 ,7 3 8 ,5 2 8

$

380 ,2 6 2
225 ,374
1.879,861

Interest Charges and Surplus.

176
55,597

5

348 ,3 3 5
213,132
2 ,0 0 2 ,4 6 3
321 ,232
2,7 0 0 ,1 3 6

a N et earnings here g iv e n are a fte r d e d u ctin g ta x e s,
b N et earnings here g iv e n are b e fo re d e d u ctin g ta x e s.
g T h ese results are In M exica n c u rre n cy .
J T h e c o m p a n y n o w in clu d es the earnings o f the D e n v e r E n id & G ulf
H U ., P e co s V a lle y sy ste m and S an ta F e P re s co tt & P h o e n ix R y . In b oth
y e a rs.
F or S e p . taxes a m o u n te d to $30 6 ,4 2 0 , again st $305,684 In 1908;
a fte r d e d u ctin g w h ich , net fo r S e p . 1909 w as $ 2 ,9 8 0 ,3 9 8 , against $2,751,851
last y e a r.
F o r p eriod fro m J u ly 1 t o S ep . 30, ta xes w ere $86 2,33 4 In 1 9 0 9 ,
a gain st $91 9,03 9 In 1908.
n T h ese figures represent 3 0 % o f gross earn in gs.
x T h ese figures are o n the basis o f a c c o u n tin g re q u ire d b y th e In te r-S ta te
C o m m e rce C o m m ission .
2 In clu d es $91 o th e r Incom e fo r S ep. 1909, again st 5102 In 1908, and for
p e rio d fro m J u ly 1 to S e p . 30 includes $283 in 1909, again st $200 last y ea r.
T h e earnings o f th e D u b lin & S o u th w e ste rn R R . are In clu ded In b o th years.

68,143

For the second week of October our final statement covers
47 roads and shows 12.46% increase in the aggregate over
the same week last year.
___
S econd W eek o f October.

C om pa n ies—
g M exica n L igh t & P o w C o S e p
g M e x ico T r a m w a y s _____ Sep
Jan 1 to S ep 3 0 _______ 4 ,0 6 5 ,8 2 5
P a cific T e l & T el C o ____ S e p t 1,0 4 5 ,8 3 2
Jan 1 to S e p t 3 0 . ........... 9 ,0 0 2 ,2 8 9
P ittsb u rg h Coal C o Jan 1 to S e p t 3 0 _______
_______

10,954

1 3 ,323,649 11,839,737 1,539,509
1,483,912

(1 2 .5 3 % )

$

------G ross E a rn in g s•—
------- N et E a rn in gs-------C u rrent
P reviou s
C u rren t
P reviou s
Y ear.
Y ea r.
Y ea r.
Y ea r.
$
$
5
*
4,62 5 ,7 2 5 ' 3 ,9 4 1 ,2 2 4
.S e p t 1 1 ,531,903 10,481,094
S o u th e rn P a c i f i c . a . .
J u ly 1 t o S e p t 3 0 _______ 3 3 ,6 5 7 ,2 1 8 3 0 ,0 3 3 ,1 3 8 13,140,491 I I , 013,584
1 7 ,1 3 3
T e x a s C e n tr a l.a __________ S ep
69,7 9 7
8 3 ,9 1 6
1,481
56,204
J u ly 1 to S ep 3 0 _______
225 ,4 6 9
2 43 ,823
14,710
2 ,0 1 5
T o m b lg b e e V a lle y ______ S ep t
6,2 3 0
5,3 5 7
2,075
5 ,4 6 9
J u ly 1 to S e p t 3 0 _______
18,851
15,414
6,2 3 5
U n io n P a cific a _________ S ept 8 ,1 0 0 ,3 7 3
7 ,4 1 4 ,5 9 5 4 ,285.778 3 ,9 9 9 ,5 1 4
J u ly 1 t o S ep t 3 0 _______ 23,583,841 2 1 ,1 3 9 ,7 4 9 12,311,999 1 0 ,8 3 3 ,9 9 2
W r ig h ts v & T e n n ll l c - b .- S e p
12,14ft
237,270
228,123
22,011
J u ly 1 t o S ep 3 0 _______
272,707
1 6 ,8 1 6
260,923
27,724

R oad.

W eek or
M o n th .

Current
Y ear.

P reviou s
Y ea r.

$
5
255,598 240,752
A m erican R y s Co — S e p te m b e r
149,141 137,387
c A u r Elgin & C h ic R y S e p te m b e r
32,892
34,348
B in gh am ton S t. R y . . A u g u s t ___
188,364 177,388
B irm R y L t & P o w e r. S e p te m b e r
17.912
16,516
B ro ck to n & P ly S t R y A u g u s t ___
11,978
11,922
C a m a gu ey C o .............- S ep te m b e r
22,005
22,958
Cape B re to n E lec C o . A u g u s t ___
17,545
C arolina P o w & L t Co S ep te m b e r
60,868
S e p te m b e r
62,979
Cen tral Penn T ra c
60,008
58,125
Chariest Con R y G & K S ep tem b er
C h icago R a ilw a ys Co. A u g u s t ___ 1088,209 980 ,166
31,361
27,971
C le v c P a ln esv & East S e p te m b e r
94,730
D allas E lectric C o r p . A u g u s t ___ 128,749
D e tro lt U n ited R y . . 2d w k O ct 154,354 130,029
76,970
87,217
D u lu th -S u perior T rC o S e p te m b e r
176,402 170,028
East St L ou is & S u b - S e p te m b e r
4 1 ,399
46,447
El Paso E le c t r ic _____ A u g u s t __
39,742
43,674
F a ir & Clarksb T r C o. S ep te m b e r
Ft W a yn e <Sc W abash
133,412 125,587
V a lley T r a c tio n Co A u gust . . .
111,295 101,708
G a lv -IIo u s E le c C o . . A u gust . . .
80.899
97,626
G rand R a p id s R y C o . S eptem ber
34,656
38,229
W
k
O
ct
24
H a v a n a E le ctric R y .
tlo n o lu lu R a p id Tran
36,637
3 1.525
& Land C o .......... .... J u ly ..........
25,952
32,925
H ou gh ton C o T r a c Co A u g u s t __
362,729 342,273
Illinois T ra ctio n C o . J u ly .........
36,271
38,782
J a ck so n v llle E le c Co A u gust .
K ansas C ity -W e ste rn S e p te m b e r
108,206 104,072
L a k e Shore E le c R y . S e p te m b e r
54,239
58,706
L e x & In te r R y s Co J u ly _____
369 ,446 335 ,077
M llw E lec R y & L t Co S e p te m b e r
99,820
93,984
M llw L t H t & T r a c Co S e p te m b e r
W k O ct 23
75,100
71,235
M ontreal S treet I ly
154,540 151,055
N ash ville R y & L ight S e p te m b e r
202,156 172,675
N orth O hio T r & L t . . S e p te m b e r
92,503
109,422
N orth T e x a s E le c C o . A u gust . .
169,066 159,151
N orthw estern E lev Co S ep tem b er
158,234 (1162,938
N o rf & P o rtsm T r C o. S e p te m b e r
J u ly ____
26,78 1
■11.4 68
O kla h om a C ity R y
19,852
19,930
P adu cah T r & L t Co A u g u s t ___
19,562
22,205
P en sa cola E le ctric Co A u g u s t ___
420,778 373,288
P o r tl’d (O r) R y L & P C o S ep tem ber
R io de Jan eiro T ram
S e p te m b e r
6 12,731 643,347
L ig h t & P o w e r ..
Sr Joseph (M o) R y Lt
94,991
88,286
£3 H eat & P o w e r Co S eptem ber
200,496 180,886
Sao P a u lo T r L t & P S e p tem ber
51,544
53,931
Savan n ah E le ctric Co A u gu st ___
01 0 .8 1 rt 382 ,742
Seattle E lectric C o . . August
13,551
13,471
S ou W iscon sin R y Co S e p te m b e r
45,474
48,468
T a m p a E lectric t o . . A u g u s t ___
217,737 222,892
T o le d o R y s & L ig h t . S e p te m b e r
67,666
75,754
T o r o n t o R a ilw a y s ___ W k O ct 23
1 - i 027
'o —i" ru tv R a n 'r r a n . ?d WU O ct 1 * 9

J a n . 1 to latest date.
C urrent
Y ea r.

P rev iou s
Y ea r.

$
2 ,2 0 1 ,7 8 7
1,158,406
230,721
1,6 4 6 ,8 2 5
91 ,070
99,350
148,388
14 l ,318
564,747
570,005
8,0 6 8 ,5 5 2
24 2,206
854 .533
6 ,2 6 9 ,0 6 0
723,602
1.481.078
376 ,374
313 ,944

S
2 ,1 0 9 ,9 1 2
1,0 5 7 ,9 1 5
21 1,134
1 ,581,703
83,603
8 6 ,1 4 5
150,838

905,614
793,768
776 ,022
1,660,150

856 ,257
700,864
708 ,509
1,542,465

533,118
50 1,806
225,229
728,511
5,5 8 5 ,3 3 7
655,121
1,487,855
342,691
287 ,732

232 ,209
219 .513
213,693
173 ,565
2,4 1 6 ,9 4 7 2 ,2 5 5 ,7 9 0
312,211
282,463
266,914
252,883
835 ,060
7 87 ,210
3 28 ,565
321,654
3 ,1 1 6 ,8 8 5 2 ,866,824
659 ,707
706 ,129
3 ,1 5 1 ,7 4 7 2,9 7 5 ,0 2 0
1,257,641 1,159,583
1,634,172 1,420,552
6 82 ,359
805 ,200
1,523,278 1,409,084
1,436,109 (11,395,234
148,384
228,104
147,729
151,355
135,959
162,401
3 .5 4 7 ,6 4 7 3,2 2 2 ,1 0 3
5,6 0 7 ,4 9 5

5,239,158

722,808
1,776,271
402,291
3,8 0 8 ,1 7 6
120,785
380 ,145
1 ,981,435
3,061,061
5 .442,106

672 ,232
1 ,682,180
387 ,392
2 ,9 1 7 .1 8 5
116,483
362 ,624
1 ,8 6 4 ,8 2 2
5,014 717

l.alcst G ross E a rn in g s.
N a m e of
R oad.

U n d ergrou n d El R y
of London—
: T h re e tu b e lin e s —
M e tro p o lita n D is t .
U n ited T r a m w a y s .
U n ited R y s o f S t L . .
U n ited R R s o f San Fr
V irgin ia R y & P o w Co
W ash B a lt & A n n a p .
W h a tc o m C o R y & Lt

W eek or
M o n th .

Current . P revious
Y ea r, j Y ea r.

Current
Y ea r.

P rev io u s
Y ea r.

1

3

3

3

£12,625
£10,168
£5,813
0 20 ,329 '
642 .120

£11,960
£10,114
£6,850
887,344
587,733

£513,910
£401,431
£251,171
8 ,2 2 6 ,3 8 5
4,832,778
1,348.720

£472,940
£370,550
£281,508
7 ,8 6 0 ,6 2 5
4 ,4 9 7 ,0 4 4

58i789
36,84l|

55,938
29,417

260,354

2 31 ,789

3
W k O ct 16
W k O ct 16
W k O ct 16
S e p te m b e r
A u gu st —
A u g u s t ----S ep te m b e r
A u gust —

J a n . 1 to latest date.

c T h ese figures are fo r co n s o lid a te d c o m p a n y ,
the N orfolk C o u n ty Ferries.

it In clu d es earn in gs of

Electric Railway Net Earnings.— In the following we show
both the gross and the net earnings to latest dates of all
E L E C T R IC railways from which we have been able to procure
monthly returns. The returns of the different roads are pub­
lished by us each week as soon as received, and once a month
we bring together all the roads reporting, as is done to-day.
-------Gross E a rn ings---------- — N ef E arnfnffs— —
Current
P revio u s
C urrent
P reviou s
Y ea r.
Y ea r.
Y ea r.
Y ea r.
$
5
$
$
182,007
201,324
458,218
488,703
A m e r Cities R y & L t . a .S c p t
1,57
0 ,3 0 4
1,771,854
3,087,203
Jan 1 t o S e p t 3 0 ----------- 1,226,102
66,583
74,673
137.387
140,141
A u rora E lgin & C h ic — S ep t
225
,842
251,642
440,030
480,453
J u ly 1 t o S ep t 3 0 ----------2,086
3,162
7,578
8,681
B a to n R o u g e E lec C o . . . A u g
14,374
17,323
32,802
34,348
B in g h a m to n S treet R y . . A u g
86,132
100,714
211,134
Jan 1 t o A u g 3 1 ----------230,721
69,822
82,611
177.388
B irm in gh a m R y L & P - . S e p t
188,364
653 ,615
723,156
1,581,763
Jan 1 t o S ep t 3 0 -----------l,6 4 6 ,8 2 o
7 ,2 4 0
6,717
16,515
B r o c k t o n & P ly m S t R y . A u g
17,012
2 0 ,720
28,373
83,603
Jan 1 t o A u g 3 1 ----------01,070
H oads.

6,9 5 9
C arolina P o w e r & L t C o .S e p t
17,545
50,590
Jan 1 t o S e p t 3 0 ----------141,318
5,762
11,022
11,078
C a m a gu ey C o m p a n y .. S e p t
46,066
8 6 ,145
00,350
Jan 1 t o S e p t 3 0 ----------10,501
22,058
2 2,005
C ape B re to n E lect C o . . . A u g
53,002
150,838
J a n 1 t o A u g 3 1 ---------148,388
18,034
60,868
C entral P en n a T r C o ___S e p t
62,070
140,108
533,118
J a n 1 t o S ep t 3 0 ---------564,747
18,005
58,125
60,008
C h a rlcst’n C on s R y G & E a Sep
160 ,130
445 ,096
M ch 1 t o S ep 3 0 _______
45 1 ,4 2 5
C h a u ta u q u a T r a c tio n C o— b
0,630
25,085
36,402
A p r 1 t o Ju n e 3 0 .......... .
14,339
42,233
58,764
Jan 1 t o Ju n e 3 0 ---------4 37 ,576
080,166
C h ica g o R y s . a -----------------A u g 1 ,0 88,200
2 ,8 0 7 ,8 2 6
J a n i t o A u g 3 1 _______ 8 ,0 6 8 ,5 5 2
15,083
27,971
C leve P a ln esv & E ’ n . a .S e p t
31,361
121,626
225
,220
Jan 1 t o S ep t 3 0 .............
242 ,206
3 9 ,755
81,447
00,718
C leve S o u th w & C o l - b . - A u g
222 ,918
503,165
Jan 1 t o A u g 3 1 ----------570,627
4 0,532
04,730
D allas E le c tr ic C o r p --------- A u g 128,740
3 01 ,035
728,511
Jan 1 t o A u g 3 1 ----------854,533
273,968
668,480
D e tr o it U n ite d b -------------S e p t 751,818
2 ,260,890
5.324.855
Jan 1 t o S e p t 3 0 _______ 5,063,431
3 8 ,950
76,070
D u lu th -S u p T r a c C o . b . - S e p t
87,217
205 ,175
655,121
723 ,602
Jan 1 t o S ep t 3 0 _______
89,078
170,028
E ast S t L ou is & S u b .b .S e p t
176,402
663,072
1.48 7 .8 5 5
J a n 1 t o S ep t 3 0 ----------- 1,481,078
17,901
41,300
E l P a so E le c tr ic C o _______ A u g
46,447
145,788
342,601
J a n 1 t o A u g 3 1 _______
376,374
28,580
30,742
F a irm on t & C l a r k s b .b - .S e p t
13,674
287,732
194,632
Jan 1 t o S ep t 3 0 _______
313,044
125,587
59,157
F t W a y n e & W a b V a lle y A u g
133,412
8 56 ,257
3 68 ,139
J a n 1 t o A u g 3 1 ---------005,614
101,708
4 8 ,310
G a lv c s t-H o u s t E lect C o .A u g
111,205
700,864
32
5 ,4 7 6
J a n 1 t o A u g 3 1 ----------703,768
80,800
54,426
G rand R a p id s R y . b -------- S e p t
07,626
708,569
413,061
Jan 1 t o S ep t 3 0 ----------776,022
16,656
36,637
3 4 ,5 2 5
H o n o lu lu R T & L C o . b . J u ly
219,513
110,506
232,200
Jan 1 to J u ly 3 1 ----------17,337
25,952
3 2 ,025
H o u g h to n C o T r a c t C o . . A u g
06,022
173.565
213,603
J a n 1 t o A u g 3 1 ---------146,007
342,273
3 62 ,720
Illin ois T r a c tio n C o . a . - . J u ly
063 ,610
2 ,2 5 5 ,7 9 0
Jan 1 to J u ly 3 1 _______ 2,41 6 ,0 4 7
17,400
36,271
38,782
J a ck s o n v ille E lect C o — A u g
131,120
282,463
312,211
J a n 1 t o A u g 3 1 ----------J a m estow n C h au t & L E . b —
d c f.4 ,6 0 0
21,077
24,891
A p r 1 to Ju n e 3 0 ----------d e f . 1,622
38,724
48,107
Jan 1 to Ju n e 3 0 ---------J a m estow n S treet R y . b —
23,691
45,589
52,194
A p r 1 to Ju n e 3 0 ----------K ansas C ity -W estern R y . a —
41,132
96,046
J u ly 1 to S ep t 3 0 .............
100,486
58,364
104,072
L a k e S h ore E lec R y . a - . S e p t
108,206
3 05 ,370
787 ,210
Jan 1 to S ep t 3 0 .............
835,061
19,518
58,706
L e x in g to n <& I n t e r u r b .. J u ly
54,230
8 4 ,775
328 .565
Jan 1 to J u ly 3 1 _______
321,654
M assachusetts E le ct C o sb —
1,336,662
2,468,049
J u ly 1 to S ep 3 0 ----------- 2,626,388
7 ,7 9 4 ,1 1 0 2,003,058
O ct 1 to S ep 3 0 _______ 8,05 2 ,3 5 4
101,039
335,077
M llw E lec R y & L t C o . b . S e p t
360 ,446
1,579,713
2 ,866,824
Jan 1 to S ep t 3 0 _______3 ,1 1 6 ,8 8 5
62,121
93,084
MUw L t H t & T r C o . b . . S e p t
00,820
4 14 ,204
650,707
Jan 1 to S ep t 3 0 _______
706,120
171,647
329,772
M ontreal S tre e t R y .......... A u g
3 55 ,230
1,414,378
3 ,3 2 9 ,0 6 0
O ct 1 to A u g 3 1 ----------- 3 ,4 0 2 ,7 7 6
82,916
151,055
N ash v ille R y & L t C o . a . S e p
154,540
632 ,287
1,159,583
Jan 1 to S ep 3 0 ----------- 1,257,641
69,861
d
l6
2
,9
3
8
N o rfo lk & P o r t s m o u t h ..S e p t
158,234
602 ,836
Jan 1 to S e p t 3 0 ............. 1,43 6 ,1 9 0 d l , 305,234
09,166
20 2 ,1 5 6
172,675
N o rtli’ n O h io T r & L t C o .- S e p
746,442
1,420,552
Jan 1 to Sep 3 0 ---------- 1 ,6 3 4 ,1 7 2
51,529
109.422
92,503
N o rth ern T e x a s E lec C o . A u g
353 ,064
682,359
Jan 1 t o A u g 3 1 ----------805 .200
16,811
26,781
O k la h om a C ity R y ---------J u ly
41,468
82,226
148,384
Jan 1 to J u ly 3 1 ---------228,104
8,649
10,852
P a d u ca h T r a c t & L t C o . A u g
10,030
58,511
151,355
Jan 1 to A u g 3 1 .............
147,720
0,601
10,562
P en sa cola E le c tr ic C o — ‘A u g
22,205
70,358
135,950
Jan 1 to A u g 3 1 ---------162,401
227,341
373 ,288
P o r t ( O r e )R y L & P C o .b S e p t
420 ,778
1,896,419
3 ,2 2 2 ,1 0 3
Jan 1 to S ep t 3 0 ---------- 3 ,5 4 7 ,6 4 7
8 0,516
158,595
P u g et S ou n d E lect R y . - A u g
104,383
276 ,556
643,347
R l o d e J a n e ir o T r L & P a S e p t
642,731
2
,2
2
1 ,8 0 3
5,23
9
,1
5
8
Jan 1 t o S ep t 3 0 ............. 5,60 7 ,4 0 5




5,3 6 0
3 9 ,6 3 2
11,072
65.591
14,200
110,510
17,856
150 ,125
7,741
8,334
3 30 .038
0,229
98,653
3 2 ,8 1 9
171,788
3 1 ,1 8 6
2 16 ,115
245,353
1,02 9 ,6 0 3
31,021
254,687
8 2 ,8 6 7
7 06 ,616
10,510
97.007
27,272
170.760
59,167
3 63 ,762
4 6 ,607
2 86 ,875
40,281
35 1 ,5 8 4
17,447
05,030
13,180
73,422
150,093
025 ,917
17,129
109,784
d e f .658
d e f .5,752
16,650
3 8 ,625
54,424
3 47 ,712

21,211
00,400
1,14 1 ,8 9 5
2,80 7 ,4 9 2
174,009
1,38 0 ,2 0 0
59,319
3 70 ,249
165.510
1,350,401
82,234
563,100
68,104
559,963
8 1 ,0 2 5
508.511
38,073
267 ,682
5,882
43,204
8 ,1 5 7
5 0 ,077
6,421
3 5,434
199,946
1 ,6 2 4 ,9 8 2
6 2 ,7 5 0
2 6 0 ,1 6 5
1 ,0 7 9 ,7 0 8

----- G ross E a rn in g s------- -------N et E a rn in g s-----C u rrent
P rev io u s
C u rrent
P rev io u s
Y ear.
Y ea r.
Y ea r.
$
5
5
3
5 5 ,0 8 6
4
7
,4
7
7
04,991
88,286
S t J o s (M o) R y L H & P C o b S cp t
32 9 ,4 5 4
34 8 ,2 7 8
672,232
722 ,808
J a n 1 t o S e p t 3 0 _______
104 ,658
120,948
180 ,886
200 ,496
S a o P a u lo T r a m L t & P .a S ep t
1 ,0 6 4 ,0 9 7
1 ,1 0 4 ,2 5 9
1 ,6 8 2 ,1 8 0
Jan 1 t o S ep t 3 0 _______ 1,776,271
2 0 ,6 8 6
17,546
51,544
S a v a n n a h E le c tr ic C o ___ A u g
53,031
124 ,459
141 ,146
3 87 ,392
J a n 1 t o A u g 3 1 _______
4 02 ,294
163,082
2 98 ,697
382 ,742
610 ,816
S eattle E le c tr ic C o ______A u g
1,180,681
1 ,5 9 9 ,3 0 3
2 ,9 1 7 ,1 8 5
Jan 1 t o A u g 3 1 _______ 3 ,8 0 8 ,1 7 6
S yra cu se & S u b u r b a n .a—
15,245
6 ,5 3 7
3 0 ,209
A p r 1 t o Jun e 3 0 ----------3 0 ,5 0 9
1 5,751
19,664
48,468
T a m p a E le c tr ic C o -------- A u g
45,474
115,672
158,163
3 62 ,624
Jan 1 t o A u g 3 1 _______
38 9 ,1 4 5
110,902
95,958
222,892
T o le d o R y s & L ig h t , b - -S e p
217,737
844 ,999
84 7 ,3 8 6
1,86 4 ,8 2 2
J a n 1 to S ep 3 0 _______ 1 ,9 8 1 ,4 3 5
199,146
193,153
3 5 4 ,0 9 5
T o r o n t o R a ilw a y C o -------S e p t
370 ,981
1
,2
32,478
1
,4
0
7
,6
5
5
2
,6
2
9
,2
2
2
Jan 1 t o S e p t 3 0 _______ 2,857,201
T r i-C ity R y & L ig h t C o 20
5 ,4 5 0
227,623
4 50 ,172
506,987
J u ly 1 to S e p t 3 0 _______
30 7 ,2 8 7
3 7 5 ,1 6 2
583,876
T w in C ity R a p T r C o . b . S e p t
645,197
2 ,3 9 3 ,7 7 7
3 ,7 4 3 ,8 5 2
4 ,7 6 5 ,8 0 2
Jan 1 to S e p t 3 0 _______ 5 ,1 7 6 ,4 2 0
U n d e rg ro u n d E le c R y s — L o n d o n ,
£20 ,435
£21,125
£48,819
M e tro p o lita n D is t r ic t ..S e p
£49,743
£7,241
£6,538
£14,610
B a k er S t & W a t e r lo o . .S e p
£13,685
£9,264
£9,693
£23,400
G t N o r, P ic a d ’ y & B _ _ S e p
£23,517
£5,642
£6,678
£15,338
C h arin g Cr E u s & H am S ep
£16,756
£13,731
£7,561
£32,200
L o n d o n U n ite d T r a m . .S e p
£27,702
3 3 3 ,1 8 0
33 9 ,9 7 2
8 87 ,344
U n ited R y s o f S t L ou is a S e p t
029 ,329
2 ,7 8 7 ,5 5 7
7 ,8 6 0 ,6 2 5 3 ,0 0 8 ,6 8 1
J a n 1 t o S e p t 3 0 _______ 8 ,2 2 6 ,3 8 5
2 31 ,705
278 ,169
U n ite d R R s o f San F r b A u g
642 ,120
587,733
1 ,5 7 4 ,3 4 0
2 ,0 2 7 ,2 6 9
Jan 1 t o A u g 3 1 ----------- 4 ,8 3 2 ,7 7 8
4 ,4 9 7 ,9 4 4
7 9 ,999
V irgin ia R y & P o w C o . . A u g
165,334
590,721
Jan 1 to A u g 3 1 _______ 1 ,3 48,720
2 4 ,039
2 5 ,6 2 9
55,938
W ash B a lt & A n n a p o lis .S e p t
58,789
50,878
1 51 ,545
7 2 ,6 8 7
J u ly 1 t o S e p t 3 0 _______
172,505
21,618
25,508
4 2 ,710
50,038
W e s te rn O hio R y C o .b — S ep
195 ,432
219 ,289
437 ,096
O ct 1 to S e p 3 0 ________
479 ,566
1 2 ,149
17,667
2 0 ,417
W h a tc o m C o R y & L t - . A u g
36,841
0 8 ,5 0 5
2 31 ,789
11 1 ,6 2 5
Jan 1 t o A u g 3 1 _______
260,354
R oads.

a N et earnings here g iv e n are a fte r d e d u ctin g ta x e s ,
b N et earnings here g iv e n are b e fo re d e d u ctin g ta x e s.
d In clu d es th e gross earnings o f th e N o rfo lk C o u n ty F e rrie s , lease fo r
w h ich e x p ir e d A p ril 1 1000.

Interest Charges and Surplus.
— I n t ., R en tals, & c.--------- B a l. o f N et E 'n q s .—
P rev io u s
Current
P rev io u s
Current
Y ea r.
Y ea r.
Y ea r.
Y ea r.
S
$
$
$
7 8 ,676
9
6,726
103,331
104,598
A m e r C ities R y & L t — S ep t
6 60 ,204
8 34 ,618
910 ,100
937,236
Jan 1 to S e p t 8 0 ----------3 8 ,9 5 9
4 5 ,2 6 0
27,624
29,413
A u rora E lgin & C h ic — S ep t
1 42 ,815
163 ,979
8 3 ,0 2 7
87,663
J u ly 1 t o S e p t 3 0 ---------2 8 ,188
5 857
8,5 1 7
9,1 3 5
B in g h a m to n S tre e t R y . - A u g
2 8 ,2 8 5
20,329
65,803
72 429
Jan 1 to A u g 3 1 ---------5,0 2 7
5,056
2,213
1,661
B r o c k to n & P ly m S t R y .A u g
13,668
18,498
2,222
14,705
J a n 1 t o A u g 3 1 _______
4,0 6 9
5,4 3 0
6 ,103
5,071
C ape B re to n E le ct C o ___A u g
1 2 ,900
2 5 ,4 2 2
4 0,169
41,092
Jan 1 t o A u g 3 1 _______
2,5 0 4
4,4 5 5
C arolina P o w & L t C o . . S e p t
4 0 ,9 5 4
18,636
Jan 1 to S e p t 3 0 ----------4 ,0 3 9
4 ,0 8 8
13,817
13,917
Chari C on R y G & E C o . .S e p
62,584
6 8 ,7 1 4
96,541
97,416
M ch 1 t o S ep t 3 0 ---------C h au tau qu a T r a c tio n C o—
d e f .3,98 9
d e f .6,3 9 7
11,730
16,027
A p r 1 to Ju n e 3 0 ----------24.700 x d f.1 6 ,5 9 5 * d f .l6 ,7 5 8
30,431
Jan 1 to Jun e 3 0 ---------1,098
6 ,2 9 9
8,131
8,784
C leve P a ln sv & E a s t’ n .- S e p t
2 6 ,2 5 9
46,021
72,394
7 5 ,605
Jan 1 t o S e p t 3 0 ----------12,930
12,485
10,889
2 7,270
C leve S o u th w & C o l---------A u g
10,709
27,561
161 ,079
195,357
J a n 1 t o A u g 3 1 .............
2 ,8 5 7
11,883
2 8 ,329
28,649
D allas E le ctric C o r p -------A u g
d
e
fl9
.9 5 2
7 0,948
2 36 ,067
230 ,087
*
1
1
5
,3 3 2
*1
2
7
,6
0
6
158,124
135,049
D e tr o it U n it e d ..................S ep t
*7 5 5 ,7 9 8
* 9 5 9 ,5 9 7
1 ,2 1 8 ,8 6 0
1,409,007
1 2 ,105
18,193
18,916
20,757
D u lu th -S u p e r T r a c C o .- S e p t
8 7 ,937
127 ,085
166,750
168,090
Jan 1 to S e p t 3 0 .......... ..
34,651
3 9 ,733
4 8 ,216
4 9,345
E ast S t L ou is & S u b u r b .S e p t
2 69 ,971
217 ,961
4 36 ,645
445,111
J a n 1 t o S e p t 3 0 ----------3,4 3 4
9,642
7,076
8,2 5 9
E l P a so E le ctric C o _____ A u g
3 9 ,6 2 8
8
1
,9
7
5
57,379
63,813
Jan 1 t o A u g 3 1 _______
*1
7
,1 2 0
*
1
9
,9
4
6
12,344
1 2 ,655
F a lrm & C larksb T r C o .S e p t
*9 6 ,9 1 7
* 1 1 5 ,9 8 1
104,262
111,148
J a n 1 to S e p t 3 0 ----------26,081
2 6,640
20,526
2 1,679
G a lv c s t-H o u s t E le ct C o . A u g
123 ,540
152 ,932
163 ,335
172,544
Jan 1 t o A u g 3 1 ----------3 0 ,475
3 5 ,4 6 8
18,806
18,958
G rand R a p id s R y _______ S ep t
185,288
242,291
165,296
170 ,770
J a n 1 t o S e p t 3 0 . ..........
* 1 1 ,9 9 5
* 1 1 ,1 4 9
6,144
6,122
H o n o lu lu R T & L d C o . . J u l y
* 5 6 ,5 7 0
* 6 1 ,8 6 5
43,001
43,088
Jan 1 t o J u ly 3 1 .............
8,577
11,122
4,603
6 ,215
H o u g h to n C o T r a c t C o . . A u g
3 5 ,7 7 6
48,451
3 7.646
47,571
Jan 1 t o A u g 3 1 ----------7,8 9 7
7,0
7
0
9,232
9,250
J a ck s o n v ille E le ct C o ___A u g
3 5 ,2 1 9
55,980
74,565
75,140
Jan 1 t o A u g 3 1 ---------,
R oads.

J a m e s to w n C h au t & L E —
A p r 1 to Jun e 3 0 ----------Jan 1 to Jun e 3 0 ----------J a m e sto w n S tre e t R y —
A p r 1 t o S e p t 3 0 ----------K ansas C ity -W e ste r n R y —
J u ly 1 to S e p t 3 0 ----------L a k e S h ore E le ctric R y .S e p t

8,7 3 0
20,141

8 ,6 2 5 * d e f . 1 3 ,4 1 5 * d e f. 9,256
20,141 x d e f.2 1 ,7 6 1 * d e f.2 5 ,8 2 6

17,410

1 6,132

6,281

518

20,625
34,804
309 ,093

20,587
3 4 ,012
2 87 ,720

* 2 0 ,8 9 0
2 3 ,560
8 6 ,2 7 7

* 1 8 ,1 5 2
20,412
59,992

M assachusetts E le ct C os—
432 ,058
J u ly 1 to S ep 3 0 ----------O ct 1 t o S ep 3 0 ----------- 1,77 8 ,1 2 8
111,552
M llw E le c R y & L t C o . .S e p t
9 52 ,842
6 9,152
M llw L t H t & T r C o -------Sep t
580,851
Jan 1 to S e p t 3 0 -----------59,027
M on treal S tre e t R y -------- A u g
418,801
O ct 1 t o A u g 3 1 . ..........
63,058
N orf & P o rtsm T r a c C o .S e p t
583,273
4 2 ,927
N or O h io T r & L t C o -------Sep
393 ,342
Jan 1 to Sep 3 0 ----------17,190
N orth ern T e x a s E lec C o . A u g
137,495
Jan 1 t o A u g 3 1 ----------6,619
P adu cah T ra ct & L t C o . Aug
55,076
Jan 1 t o A u g 3 1 ----------4,372
P e n sa co la E le ct C o -------- A u g
3 4 ,713
Jan 1 t o A u g 3 1 ---------128,024
P o r t (Ore) R y L & P C o .S e p t
Jan 1 to S e p t 3 0 ............. 1,111,334

417 ,494
1 ,7 8 4 ,4 3 7
100 ,810
89 3 ,6 7 0
62,802
538,296
54,112
423,021
6 7,187
592,583
43,412
394,743
17,434
129,040
6,851
55,693
4,488
3 3,997
114,207
1,03 8 ,4 3 4

90 4 ,6 0 4
724,401
1 ,0 2 3 ,0 5 5
1 ,1 2 5 ,8 3 0
*7 8 ,2 4 4
* 8 5 ,4 6 7
* 5 2 9 ,6 6 5
* 6 6 4 ,0 8 9
*41,701
* 3 8 ,0 9 1
*2 4 9 ,3 1 0
* 2 3 9 ,4 3 2
111,398
112 ,620
92 7 ,3 8 0
9 95 ,577
917
6,8 0 3
19,563 d e f .3 2,620
3 7,613
56,239
2 03 ,768
3 5 3 ,1 0 0
21,539
3 4 ,3 3 9
138,642
21 5 ,5 6 9
2,0 3 0
1,306
3,3 8 4
3 ,4 3 5
5,319
1,933
3 5,643
1,437
98,417
8 5 ,7 3 9
78 5 .0 8 5
5 86 ,548

— I n t ., R en tals, & c .—
— B a l. o f N et E ’ n g s.—
C u rrent
P rev io u s
C u rrent
P rev io u s
Y ea r.
Y ea r.
Y ear.
Y ea r.
$
$
$
$
4 2 ,9 2 9
3 1 ,716
19,821
P u g e t S ou n d E le c t R y . - A u g
4 8 ,8 0 0
2 5 ,419
34.718
St J o s (M o ) R y L H & P C o . - S e p t
22,058
20,368
156,198
144,912
Jan
1 to S ept
30
192,080
184,542
111
3,184
Savannah
E le c tr ic
C o .-A u g
17,435
17,502
1,673
136,841
d e fl2 ,3 8 2
Jan
1 to A u g
31
139,473
1 90 ,109
68,248
94,834
S e a ttle E le ct C o -------------- A u g
108,588
7 73 ,646
472 ,974
Jan
1 to A u g
31.
82 5 ,6 5 7 707 ,707
S y ra cu se & S u b u rb a n —
* d e f.6 1 5
7 ,3 0 9
* 8 ,3 4 2
A p r 1 t o Ju n e 3 0 _______
7,2 3 5
15,070
5,138
10,613
T a m p a E lect C o _________ A u g
4,5 9 4
120,847
2 1 ,230
94,442
J a n 1 t o A u g 3 1 _______
3 7 ,3 1 6
*
2
0
,8
3
3
7
1,977
*
3
9 ,0 7 6
T o le d o R y s & L t C o ____ S ep
75,483
* 1 9 7 ,3 8 2
635 ,743
*21 2 ,3 2 8
J a n l to S ep 3 0 .............
6 52 ,202
T r l-C lty R y & L ig h t Co—
122,789
97,432
82,661
130,191
J u ly 1 to S e p t 3 0 _______
138 ,667
234,911
168,620
T w in C ity R a p T ra n C o .S e p t
140,251
1,145,122
1 ,4 95,342
1,24 8 ,6 5 5
Jan 1 t o S e p t 3 0 _______ 1 ,2 4 8 ,5 1 0
234 ,380
107,840
9 8,800
U n ite d R y s o f S t L o u is .S e p t
232 ,132
2 ,0 9 7 ,3 3 2
907 ,049
690,225
J a n 1 t o S ep t 3 0 ----------- 2 ,1 0 1 ,6 3 2
25,169
d e f3 ,4 5 0
d e fl,1 3 0
W a s h B a lt & A n n a p o lls .S e p t
2 9 ,079
75,270 d e f 15,447 d ef24,392
J u ly 1 t o S ep t 3 0 .............
88,134
15,532
10,012
6,086
15,496
W e s te rn O h io R y C o -------S ep
183,780
36,022
1 1,652
O ct 1 to S ep 3 0 .............
183,267
7,9 7 6
9,603
W h a tcom Co R y & L t - .A u g
8,064
4,173
45,404
64,011
J a n 1 t o A u g 3 1 .............
46,221
34,494

IN C O M E ACCO U N T.
190 8-0 9.
1907-08.
$
$
19,45 7 ,9 0 2
23,49 1 ,5 4 3
539,249
O u tsid e o p e r ’ns— net d e f .

100 6-0 7.
$
2 7 ,363,831

190 5-0 6.
$
2 7 ,8 7 6 ,8 3 5

22,95 2 ,2 9 4
2 ,0 6 2 ,1 8 9

19,457,902
2 ,0 2 7 ,2 9 9

27,363,831
1 ,7 5 9 ,7 9 5

2 7 ,8 7 6 ,8 3 5
1,448,364

2 0 ,8 9 0 ,1 0 4

17,430,603

2 5 ,6 0 4 ,0 3 6

26,42 8 ,4 7 1

4 ,6 8 5 ,1 3 9

5 ,2 6 8 ,0 7 5

25,57 5 ,2 4 3

2 2 ,699,578

.

_

-

R oads.

* A fte r a llo w in g fo r o th e r In com e r e c e iv e d .

ANN UAL REPORTS,
Annual Reports.— The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since Sept. 25.
This index, which is given monthly, does not include
reports in to-day’s “ Chronicle.”
Railroads—
Railroads—
Ann A rbor--------- --------1068 Union Pacific...............................1064, 1072
Atchison Topeka & Santa F c ..8 3 7 , 855 Wabash Railroad..........................838, 859
Atlantic Coast Line Co. ol C o n n ... 1067 Wheeling & Lake Erie...................
842
Boston & M a in e ................................ 841 Wisconsin Central...........................
1065
Buffalo & Susq. (prel. sta tem en t)-. 992 Yazoo & Mississippi Valley_____989, 1008
Electric Railways—
Canadian Pacific (annual m eeting). 989
Central R R . of New Jersey------------- 847 American Railways......... ................... 844
Chicago & A lton ......... ..............
989 Quebec Railway Light & Power C o . 915
Chicago Indianapolis & Louisville. - 844 Railways Company General.............. 776
Chicago R ock Island & Pacific......... 1064 Susquehanna R y ., Lt. & Pow er____ 845
Chicago St. Paul Minneapolis & Om. 775 Underground Electric Railway Co.,
London (half-year)........................ 845
Chicago Terminal Transfer__________1066
Colorado & Southern___ 912, 933, 990
Industrials—
Cripple Creek Central...................
847
D etroit & M ackinac.....................
1068 Allls-Chalmers Co., Milwaukee____ 990
D etroit Toledo & I r o n to n ............ .. 1068 American Linseed C o.......................... 777
Duluth South Shore & A tlantic____ 841 American Shipbuilding C o--------------- 995
Erie Railroad__________________1064, 1083 American Type Founders C o--------- 1068
Georgia Southern & F lorida................1068 Colorado Fuel & Iron Co. (prelinlnary statem ent)........................ 777
Great Northern.................
1066
Gulf & Ship Island.........................
1066 Crucible Steel Co. of America, Pitts. 915
Illinois Central.......................
989,1001
Distillers’ Securities C orp.................... 1067
Kansas City Southern__________1065, 1089 Federal Mining & Smelting C o........... 1070
Lehigh Valley______ _______8 38 ,851 , 914 La Belle Iron W orks, Steubenville,O. 916
Louisville & Nashville_________ 911, 926 Lake of the W oods Milling Co., L td. 998
Maine Central-------------842 Lehigh Valley Coal C o______ _______ 845
916
Midland Valley....... .............- ...........
990 Lake Superior Corp-----------Minn. St. Paul & Sault Ste. M arie.. 775 Lehigh & Wilkes-Barre Coal C o____ 991
N evada-Californla-Oregon................ 842 Mergenthaler Linotype Co., N. Y . . 1070
New Y ork New Haven & H artford. 838 New Haven Iron & Steel C o........... .. 781
846
New Y ork Ontario & W estern......... 776 New Y ork D ock C o ___________
New Y ork Susquehanna & Western. 1069 Pacific Coast C o . . ......... ............ 1067, 1088
Northern P a c i l l c . .. ............................. 912 Pope Mfg. Co., Hartford, Conn____ 915
1067
Pero Marquette - .............................
913 Pullman Com pany.................
Quebec Central...........— ............... ..
994 Standard Milling C o . . .......................... 1071
Reading Com pany.............774, 782, 843 United States Coal & Oil C o----------- 917
St. Louis Southwestern...................... 912 U. S. Finishing Co., Norwich, Conn. 1071
Seaboard Air Line.......................
840 Virginia Iron, Coal & Coke C o--------- 917
Southern Railw ay...........................989, 1011 Wells, Fargo & Co. (Express) N. Y . 916
Texas C en tral............ - ....................... 914 Western Canada Flour Mills C o____1001
Toledo & Ohio C entral-...................... 913 Western Union Telegraph C o ______ 991
Toledo Peoria & W estern.................. 914 Westlnghouse Air Brake Co., Plttsb. 777

Baltimore & Ohio Railroad.
(Report fo r Fiscal Year ending June 30 1909.)
On subsequent pages will be found the report of President
Murray for the year 1908-09 and also the general balance
sheet in detail.
The comparative statement of operations, earnings,
charges, &c., for four years is as follows:
O P E R A T IO N S , E A R N IN G S A N D E X P E N S E S .
1006-07.
190 5-0 6.
190 8-0 9.
1907-08.
M iles o p e ra te d Jun e 3 0 _ .
4,004
4 ,0 0 6
3,902
4,0 3 0
O perations—
5 8 .4 4 8 ,2 6 5
T o n s fre ig h t c a r r ie d * . . . 4 8 ,2 2 3 ,4 7 4
49.488.211
55,33 5 ,1 0 2
T o n s f r ’ t carried 1 m il e * .92707 15209 9 7 8 7 4 1 5 3 3 3 1 1 3 3 0 1 3 3 4 8 2 1 0 7 1 0 4 0 7 8 3 6
0 .5 6 0 cts.
A v . ra te p er t o n per m ile* 0.581 cts.
0.5 7 0 cts.
0 .5 6 9 cts.
17 ,4 6 8 ,3 2 0
Passen gers c a r r ie d _____ 18,61 3 ,4 3 7
1 6 ,145,306
18,774,688
P a ss’rs carried 1 m ile ___6 8 9 ,7 5 0 ,4 7 9 7 2 6 ,0 3 9 ,0 0 6 7 2 3 ,438 ,59 4 6 8 2 ,972 ,13 0
A v . rate per pass, per m .
1 .880 cts.
2.0 0 6 cts.
1.890 cts.
1.956 cts.
A v . tra in -loa d ( t o n s ) . . .
425
408
433
420
E arn s, per pass. tr. m ile
$0,909
$0,961
$1,018
E a rn s, p er re v . fr t . tr. m .
$2.4716
$2.3208
$2.4540
G ross earnings per m ile .
$17 ,745
$18,437
$20,529
$19,204
E a rn in g s from —
$
$
$
$
F r e i g h t ....................
5 3 ,872,416
5 5 ,681,786
64,208,6711
P a ss en g ers _______________ 12,97 0 ,1 1 2
13 ,7 3 6 ,1 0 7
14,121,897
M a l l -------------------------------1,207,372
1,21 1 ,5 9 5
1,403,938
7 7 ,3 9 2 ,0 5 6
E x p r e s s --------------------------- 1,480,121
1,459,212
1,45 3 ,7 2 0
M is c e lla n e o u s ___________
1,513,497
1 ,525,573
1,050,203 J
T o t a l ea rn in g s------------- 71 ,0 4 3 ,5 1 9
O perating exp en ses—
M a in ten a n ce o f w a y , & c.
9 ,0 17,397
M aln t. o f e q u i p m e n t - .. 10,98 5 ,7 3 0
T r a ffic e x p e n s e s ------------1,60 8 ,4 5 2
T r a n s p o rta tio n ex p en ses 24 ,4 5 3 ,7 9 0
G eneral e x p e n s e s _______
1,486,607
A . V/. ISA V A p . tW VCbX lU W g O .

N e t ea rn in g s.......... ............2!
* R e v e n u e fre ig h t o n ly .




73,608,781

8 2 ,2 4 3 ,9 2 2

7 7 ,3 0 2 ,0 5 6

10,579,6891
12,652,641
1,669,028
27,720,192
1,529,329,

54,880,091

49,515,221

5 4 ,150,879
(73.57)
19,457,902

54,880,091
(66.73)
27,363,831

49,51 5 ,2 2 1
(63.98)
2 7 ,8 7 6 ,8 3 5

D lv s . a n d Int. re c e iv e d ,
re n ts , jo in t fa c ll., & c .
D ed uct—
H ire o t e q u lp m ’ t — b a l . .
J o ln t fa c ilitie s ___________
M iscellaneous r e n ts ____

C om p a rison
Im possible
o w in g t o ch an ges
In m e th o d s
o f a c c o u n tin g .

170 ,865
C r.7,331
688,407
777,274
140,139
104,854
11,320,801
1 1 ,2 0 4 ,8 5 7 J
3 75 ,894
234,066
184,580
249,051
N et W a s h ’ n B r ’n c h , & c .
2 ,4
2 ,4
2 ,4
0 ,0 0 0
2 ,4
,0 0 0
4 % d lv . on p r e f. s t o c k ..
. 0 0 ,0
. 00
. 0 0_____
. 0______
. 0 0 ,0
. 00
D iv . o n c o m m o n s t o c k . (6 )9 ,1 3 0 ,5 5 0 (6 )9 ,1 3 0 ,5 5 0 (6 )9 ,1 3 0 ,1 9 0 (6 ^ )6 8 5 1 4 7 8
A d d itio n s an d lm p r ’t s . .
_________
_________
3 ,0 0 0 ,0 0 0
3 ,0 0 0 ,0 0 0
M lscel. im p r ’ ts , & c ______
547,984
2 78 ,556
1,11 5 ,6 7 2
1 ,0 7 7 ,9 7 5
T o t a l _________________ 24 ,6 3 2 ,8 1 2
2 4 ,0 7 3 ,3 4 0 C om p a rison n o t p r a c 'b le
B a l., su r. o r d e f ............... * S .0 4 2 ,4 3 2 * D .1 ,3 7 3 ,7 6 2 « S .2 ,9 1 5 ,4 4 0 * S .5 ,8 1 2 ,8 2 2
* T h e differen ce In th e b a la n ce fo r th e y e a r as sh ow n here an d In th e
p a m p h le t r e p o rt Is d u e m e re ly t o a d ifferen ce in th e m e th o d o f ch a rg in g th e
c o m . s t o c k d lv s ., th e a b o v e m e th o d be in g used fo r th e sake o f s im p lic ity .
G E N E R A L B A L A N C E S H E E T J U N E 30.
1909.
1908.
1907.
A ssets—
5
8
$
C ost o f r o a d , Incl. se cu rities p le d g e d . .3 5 7 ,6 6 9 ,2 8 0 3 4 7 ,7 0 3 ,1 6 5 3 3 9 ,6 7 2 ,1 9 4
4 7 ,2 1 9 ,5 0 0 4 7 ,2 1 8 ,3 9 0
R o llin g s t o c k __________________________ 4 7 ,2 1 9 ,5 0 0
M arine e q u ip m e n t _____________________
1,09 5 ,7 6 2
1 ,0 95,762
1 ,0 9 5 ,7 6 2
G as a n d e le ctr ic p la n ts ________________
724 ,476
723,114
71 1 ,9 4 8
R ea l estate
3 ,9 5 7 ,4 6 0
7 ,5 8 1 ,8 4 6
7 ,4 6 2 ,3 3 7
Secu rities t o retire o ld b o n d s , & c ____
231 ,542
246 ,482
2 4 8 ,4 2 5
D ue b y o th e r com p a n ie s fo r a d v ’s —
17,798,987
16,903,351 1 5 ,8 1 7 ,7 7 7
Cash o n h a n d , & c_____________________ 1 4 ,773,336
13,960,818
5 ,9 2 0 ,1 3 8
__________________
3 ,2 5 1 ,0 2 3
2,74 3 ,3 1 4
4 ,5 1 5 ,1 8 2
D ue fro m agen ts
T r a ffic b a a n ce s________________________
9 99 ,729
1 ,2 5 4 ,7 7 9
1,578,841
D ue b y in divid u als a n d co m p a n ie s . . 2 7 ,0 9 4 ,4 5 7
27,204,981 2 7 ,4 9 0 ,3 4 0
B on ds o f B . & O . R R . C o ____________
5,072,352
1 7 ,4 7 1 ,3 7 9 1 7 ,8 2 9 ,3 7 9
B o n d s o f su n d ry co m p a n ie s ---------------2 ,3 8 7 ,4 0 9
2 ,4 5 9 ,1 0 9
5 ,5 6 8 ,1 0 9
S to ck s o f B. & 0 . R R _________________
1,219,784
1 ,2 1 7 ,9 2 0
1 ,2 1 5 ,8 4 5
S to ck s o f B . & O . E q u ip m e n t C o ____
1,00 0 ,0 0 0
1 ,0 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0
S to ck s o f su n d ry c o m p a n ie s --------------- 3 2 ,4 5 5 ,2 5 4
3 4 ,0 1 1 ,6 3 2 3 0 ,2 3 1 ,8 1 5
4 ,9 5 8 ,9 7 2
4 ,5 1 4 ,0 5 4
6 ,3 7 1 ,0 7 2
M aterials on h a n d _____________________
M iscellaneous a c c o u n t s ________________
1,690,151
2,93 6 ,9 9 4
1 ,4 8 0 ,6 5 9
T o t a l a ssets_________________________ 523 599,474 5 3 0 ,2 4 8 ,2 0 0 5 1 5 ,4 2 8 ,2 1 3
TAabililies—
6 0 ,0 0 0 ,0 0 0
P re fe rre d s t o c k ________________ ______ - 60 000, 000 6 0 ,0 0 0 ,0 0 0
C o m m o n s t o c k _________________________ 152 175 829 152 ,175 ,82 0 1 5 2 ,1 7 4 ,8 2 9
B o n d s (see “ R y . & I n d . S e c tio n ” ) — 257 ,228 550 2 5 5 ,5 3 2 ,4 3 0 2 4 9 ,2 0 0 ,4 3 0
1,222,730
1,08 2 ,2 8 0
G ro u n d re n t Hens--------------------------------- 1 ,223 564
2 0 ,0 0 0
R e a l e sta te m o r tg a g e s .............— .................
” 1 2 7 ,7 4 1
128,001
O ld b o n d s an d sto ck s n o t d e p o s i t e d ..
5 9,000
109 .000
M . R I v . R R . car tru st w a rra n ts --------------- .
70 0 ,0 0 0
7 0 0 .0 0 0
700 000
M o n o n . R iv e r R R . C o . 1st M . b o n d s .
4 .0 0 0 .
000
4 .0 0 0 .
W . V a . & P ltts b . R R . C o . 1st M ------------- 4,000 ,000
5 .0 0 0 .
000
5 .0 0 0 .
S c h u y l. R iv . E . S . R R . C o. 1st M . . .
5 ,000 000
34 5 ,6 2 6
4 66 ,219
980 ,444
D u e t o W a s h . B r. Incl. a n n u itie s------5 5 ,0 0 0
P ltts b . & W e s t, e q u ip m e n t tr u s ts _______ .
3 ,3 4 3 ,6 1 0
2 ,6 79,674
P a y -ro lls an d u n cla im e d w a g e s___________ 2,O il ' 536
1 ,7 15,586
1,047,203
T r a ffic b a la n ce s ________________________
1 014, 619
I n t e r e s t _______________________________
3 093, 256
3,65 2 ,3 2 1
3,70 1 ,2 5 1
D iv id e n d s ______________________________
5 ,845 102
5,837,724
5,833,221
A c c r u e d ta x e s an d g ro u n d r e n ts _____
20 212
3 2 ,4 3 9
2 7,378
B . & O . relief d e p a rtm e n ts ---------------1 ,997 ,584
2,38 5 ,1 1 1
2 ,121,784
A u d ite d v o u c h e r s an d loans an d bills
13 ,5 7 7 ,8 5 6
2 ,8 1 7 ,9 8 9
p a y a b le ______________________________
1 713, 729
4 ,1 0 5 ,9 3 9
3 ,0 0 2 ,3 2 8
858, ,300
M isce lla n e o u s---------------------------------------17 ,8 0 5 ,4 4 2 1 9 ,7 3 9 ,5 4 2
P ro fit a n d lo s s .......... ...................- .............. 18,120, 681
T o t a l lia b ilitie s _____________________ 5 2 3 ,599 ,47 4 5 3 0 ,2 4 8 ,2 0 0 5 1 5 ,4 2 8 ,2 1 3
— V . 8 9 , p. 992, 408.

Great Northern Railway.
(Report fo r Fiscal Year ending June 30 1909.)
The full text of the remarks of Chairman J. J. Hill and
President L. W. Hill is given on subsequent pages; also the
revenue and income accounts, the general balance sheet in
detail, &c., &c.
Below are comparative balance sheets for two years. The
comparative income account and statistics for several years
were shown in the “ Chronicle” last week on page 1006.
CO N DENSED B A L A N C E SH EET J U N E 30.
1909.
1908.
1908.
1909.
Liabilities—
$
S
Assets—
$
$
Capital s t o c k .. .209,970,250 209,962,750
R y . prop., Incl.
advances and
Funded dcbt(see
Investm’ts In
R y.& Ind.S cc.
system roads
A subsequent
. „ „ „„„
234,010,909
p a g e s )_234,011,409
(see details on
2,955,073
subseq't page)332,598,121 319,681,815 Vouchers unpaid 3,138,015
‘
2,424,837
Cost of % int. In
Unp’d
pay-rolls 2 663,998
1,661,347
C. B. & Q. stk.
Unp’d coupons. 1,733.601
2,184
................
held b y trustee
Unpaid dlvld’ds
o f Joint bonds 109,114,810 109,114,310 Accr’d taxes, not
1,037,499
due ................ 1,060,635
Other securities
Bond Int., accr’ d,
_____
& Investm’ ts
264,673
not d u e_____
238,003
(see details on
subseq’t page) 68,859,724 67,171,239 Balance due af­
filiated c o 's - . 2,673,026
6,768,716
Cash on h a n d .. 9,144,105 11,688,302
Due from agents 2,188,468
1,812,367 Im prov’ts & betterm’ts fund. 5,763,398
5,057,054
Due from U. S.
Depreciation of
& Can. P. O.
equipment t’d 16,051,219 14,372,448
362,168
departments .
144,353
Insurance funds
510,699
481,884
Due from U. S.
115,801 Add’ns & bet’ts
130.954
Transporta’ n .
57,350
68,345
paid from Im­
Advanced chges.
3,439,900
prov’ ts & R e­
Bills receivable. 2,864,328
newals fu n d .. 19,934,613 17,822,513
Other co ’s and
1,509.396
2,437,893 St. P. M. & M.
Individuals . .
8.219,581cons. M. bds.
Material & fuel. 6,354,216
retired b y s. f.
78,000
since N ov. ’07
78,000
11,224
M iscellaneous.1,224
Profit and loss. - 35.146,545 27,191,800
T o t a l _______ 532,976,819 524,100,727
— V . 89, p. 1066, 847.

T o t a l ..............532,976,810 524,100,727

Northern Pacific Railway.
(Report fo r Fiscal Year ending June 30 1909.)
The report of President Howard Elliott will be found on
subsequent pages, together with the income account, profit
and loss account, balance sheet and traffic statistics. Com­
parative traffic statistics for several years are given below.
The comparative income account was given in the “ Chroni­
cle” of Oct. 9, page 912.

000
000

O P E R A T IO N S .
1008-09.
1907-08.
5,633
5,671

1906-07.
5,444

1905-06.
5,401

A v era g e m iles o p e r a t e d .
E q u ip m en t—
1,005
1,255
1,314
1,323
L o c o m o t iv e s ____________
808
893
923
1,005
Passen ger c a s ___________
3 6 ,097
42,3 2 0
42,171
41,1 9 8
F reigh t c a r s _____________
4,0 4 0
6,129
5,935
0,417
M iscellaneous c a r s _____
O perations—
7 ,8 8 0 ,3 3 3
6,9 5 3 ,4 2 4
5 ,9 2 0 ,2 8 0
P assen gers c a r r ie d ______ 8,4 0 4 ,7 1 2
Passen gers carried 1 m lle 7 6 7 ,4 3 9 ,4 6 5 7 9 4 ,351 ,94 8 7 2 2 ,745 ,25 9 0 5 9 ,0 5 0 ,2 2 7
2.26 cts.
2.09 cts.
K a te p er pa ss, p er m ile .
2 .2 5 c ts .
2 .2 8 cts.
1 6,741,470
15,356,312
R e v e n u e freig h t c a r r ie d . 16,8 0 0 ,5 0 4
15,830,823
do
do
1 m ile . 5200492060 5150378309 5504444098 5245200080
0.866 c ts .
0.8 2 8 c ts .
R a te p er ton per m ile ___
0.8 9 5 c ts .
0 .9 0 0 cts.

T o t a l ..............637.319,907 593,580,563

a Northern Pacific estate Juno 30 1909 Includes, In addition to net cost of new
mileage, Improvements, real estate, & c., since June 30 1908, $11,132,561, the cost,
of additions and betterments since June 30 1908, $1,801,851.
b Construction advances In 1909 were: T o Spokane Portland & Seattle R y ., S28,888,998: Clearwater Short Line, S7,582,418: Big Fork & International Falls lly .,
$735,674; Missouri River R y ., $119,015; Western Dakota R y ., $291,933; Shields
River Valley R y ., $169.393.— V . 89, p. 912 529.

Chicago Burlington & Quincy Railroad.
(Report fo r Fiscal Year ending June 30 1909.)
The annual report of this company for the fiscal year
1908-09 is given on subsequent pages, embracing the re­
marks of Mr. George B. Harris, the President, and the balance
sheet and income account.
The results for four years are given below:
O P E R A T IO N S A N D F IS C A L R E S U L T S .
(.Including N arrow -G auge.)
1907-08.
1906-07.
1905-06.
1908-09.
9,134
8,927
9,279
9,282
M iles o p era ted Ju n e SO.
E q u ip m en t—
1,604
1,468
1,703
1,703
E n g in e s .......... ......... ............
1,241
1,219
1,207
1,208
P a ssen ger e q u ip m e n t ___
50,743
51,662
52,403
53,156
F reig h t c a r s . . ....................
6,860
6,543
3,257
3,403
W o r k e q u i p m e n t .............
O perations—
19,214,239
16,7 5 7 ,2 2 0
15,494,723
P assen gers carried (N o .) 2 0 ,6 3 1 ,6 7 7
P a ss, (revenue) 1 m i l e . . 1066474004 1016454235 9 00 ,107 ,31 8 801 ,8 8 3 ,9 0 2
1.86 cts.
1 .85 cts.
2.07 cts.
2 .0 5 cts.
R a te p er pass, p er m ile .
25,439,521
25,4 7 1 ,9 3 8
24,964,341
6682388326 6655887419 7109527073
0.79 Cts.
0 .8 0 CtS.
0.7 9 cts.
0.81 cts.
R a te per ton p er m ile —
$1.56
$1.52
E a rn s, p er pass, train in.
$3.02
$3.02
Earn s, p e r f g h t . train m .
$3.07
$2.94
382
379
A v era ge tra in -loa d (re v .)
389
365
S T A T E M E N T OF E A R N IN G S A N D E X P E N S E S .
I n c . ( + ) or
1908-09.
1907-08.
D ec . (— ) .
$
S
E a rn in g s—
S
53,0 3 6 ,3 0 6
— 267,543
F reigh t _____________
52,768,763
1 8,819,239
+ 0 7 7 ,9 1 3
P a s s e n g e r ...................
19,797,152
6,6 0 3 ,5 1 9
+ 2 4 4 ,9 2 3
M all an d m is c e lla n e o u s .................
6,848,442
78,4 5 9 ,0 6 1

+ 9 5 5 ,2 9 3

T o t a l ......................................
.7 9 ,4 1 4 ,3 5 7
O perating E x p en ses—
M ain ten an ce o f w a y , & c _______________ 13,203,214
M ain ten an ce o f e q u ip m e n t _____________13,510,266
T r a n sp o rta tio n e x p e n s e s ._____ _______ 2 1,927,016
T r a ffic e x p e n s e s ________________________ 1,594,996
2,1 1 2 ,2 6 7
G eneral e x p e n s e s __________

1 4,603,477 — 1,400,263
12,501,461 + 1 ,0 0 8 ,8 0 5
25,507,271
— 580 ,255
1,5 5 5 ,1 8 0
+ 3 9 ,8 1 6
1 ,817,836
+ 2 9 4 ,4 3 1

T o t a l .......... ..........................- ........................5 5 ,3 4 7 ,7 5 9
N e t op era tin g r e v e n u e ..... ...............
24,066,598
O u tsid e op era tion s ( n e t ) _______________ d e f.1 5 8 ,1 0 7

5 5 ,985,225
22,4 7 3 ,8 3 9
su r.1 5 ,1 9 5

— 637,466
+ 1 ,5 9 2 ,7 5 9
— 173,602

N et o p e ra tin g r e v e n u e ----------------------- 23,908,191
T a x e s ____________________________________ 2 ,546,928

22,489,034
2,484,031

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

O p era tin g In com e .......... ......................2 1 ,3 6 1 ,2 6 3

2 0,005,003 + 1 ,3 5 6 ,2 6 0

IN C O M E A C C O U N T .
I n c . ( + ) or
1008-09.
1907-08.
D ec. (— ) .
R eceipts—
.
$
$
$
N et e a r n i n g s .................................................2 1 ,3 6 1 ,2 6 3
2 0,005,003 + 1 ,3 5 6 ,2 6 0
O th er In co m e __________________________ (D r .)4 7 1 ,7 9 2 (D r.)2 4 6 ,0 1 2
+ 2 2 5 ,1 8 0
T o t a l .......... .....................................................20,889,471
D ed uct—
In terest on b o n d s --------------7 ,875,507
.Sinking fu n d s ......................................
675,829
B e tte r m e n ts _____________ _______ - ............ 2,2 6 8 ,8 1 6
D iv id en d s on s to c k ( 8 % ) . ......................... 8 ,867,128

19,758,391

+ 1 ,1 3 1 ,0 8 0

6,966,891
676,011
3 ,225,094
8,8 6 7 ,1 2 8

+ 008,616
— 182
— 957,178

T o t a l d e d u c tio n s _______ _______
10,6 8 7 ,2 8 0
B a la n ce, s u rp lu s------------------------------------- 1,202,192

19,736,024
22,367

— 48,744
+ 1 ,1 7 9 ,8 2 5

G E N E R A L B A L A N C E S H E E T J U N E 30.
1909.

1908.

1907.

5
$
S
Cost of road and equipment________ 360,245,060 3 5 8 ,8 3 2 ,1 1 5 3 4 5 ,2 8 1 ,5 0 0
Cost of Investments In controlled
4,1 6 9 ,2 1 3
roads (see a subsequent page). — *23,241,400
4 ,1 5 6 ,7 4 0
A ssets—

14,4 4 4 ,7 1 6
.Sundry In v e s tm e n ts ____________
1 1,073,130
14,190,912
6 ,415,610
M aterials an d su p p lies_____ __________
5,882,191
6 ,013,344
1 8 ,274,260
S in k in g f u n d s _______________
18,841,723
1 7 ,262,788
294 ,800
S u n d ry a v a ila b le se c u r itie s ----------------1,912,200
461 ,8 0 0
5 ,273,702
Cash on h a n d ___________________________ 15,064,572
6 ,316,092
i*
J.VT o t a assets.............................................. 43 6 ,2 6 0 ,2 7 0 4 0 7 ,7 0 4 ,4 1 6 303 ,6 8 3 ,1 7 6




1908.

$

1907.

$

$

Total liabilities.................................. .436,260,276 407,704,416 393,683,176

B A L A N C E SH EET JU N E 30.
1908.
1909.
1909.
1908.
$
Liabilities—
S
Assets—
3
S
Nor.Pac.estate 0342,658,074 332.327,241 Common s to c k .245,613,000 155,000,000
E q u ip m en t____ 41,445,205 39,484,864 Subscrip, rec'ts
Issued for new
Coll, with trust’s
2,387,000 62,881,836
s t o c k _______
N or. I’ ac.-Gt.
Nor.Joint hds.109,114,810 109,114,310 Mortgage d e b t.283,700,000 282,499,500
984,055 Bonds of other
Sinking f u n d . .. 1,928,742
cos. assumed. 15,351,000 15,353,239
Cash .................. 33,200,454 34,900,795
0,908,679 Pay-rolls, mater­
A cc’ts recclv’ ble 9,339,406
ial, vouchers,
Hills receivable. 3,889,274
191,118
6,375,720
& c .................. 7,135,858
Material on hand 6,166,686
6,113,388
1,955,409
Treas.securltles. 35,827,074 17,274,570 Taxes a ccru e d .. 1,707,652
1,707,612
Int. on b o n d s .. 1,634,006
Construe, ad vs.
2,714,354
to oth. roads.637,787,431 30,503,498 D ividen ds_____ 4,341,855
9,416,028
Reserve fu n d s .. 12,138,249
Leased to Mani­
5,000,000
toba ................ 7,000,000
7,000,000 Insurance fund. 5,139,278
65,499
Liquidation f’d .
- - .......... Coll, with trustee
Profit and lo s s .. 58,172,008 50,611,365
St. P.-Duluth
1,352,847
D lv. b o n d s .. 1,288,241
5,000,000
Insurance fund. 5,139,278
2,365,197
Land departm’ t 2,536,231
T o t a l ..............637,319,907 593,580,563

1909.

L ia b ilities—

Capital stock...............
110,839,100 110,839,100 110,839,100
Bonds (see “ Ry. & Indus.” Section) .203,373,000 183,064,000 168,690,000
Relief department fund______________
71,187
102,020
129,256
Fire Insurance fund__________________
692,048
671,473
609,158
Interest on bonds____________________
3,285,634
3,068,508
2,243,064
Accrued sinking fund payments_____
289,845
289,508
_____
Bills payable_____ ___________________
______
______
2,000,000
Vouchers and pay-rolls______________
6,110,817
6,053,593
7,387,359
Sundry current accounts_____________ 16,476,393 10,793,894
2,842,883
30,262,165
29,127,441 27,590,565
Sinking fund s................................
Renewal fu n d .__________
10,000,000
10,000,000 10,000,000
Income a c c o u n t - ______ ____________ 40,672,762
39,405,890 47,023,299
Profit and loss........................................... 14,187,325 14,288,651 14,328,492

* Cost of investments In controlled roads includes $16,416,337 paid for
a majority of the stock of the Colorado & Southern Ry. purchased In Dec.
1908.— V. 89, p. 720, 528.
R o c k I s la n d C o m p a n y .

(Report fo r Fiscal Year ending June 30 1909.)

"

’

O n s u b s e q u e n t p a g e s w e g iv e th e b a la n c e sh e e ts a n d p ro fit
a n d lo ss a c c o u n ts o f th e R o c k Is la n d C o . a n d C h ic a g o R o c k
Is la n d & P acific R R . , th r o u g h w h ich th e o p e r a tin g c o m ­
p an ie s are c o n tr o lle d ; a lso th e c o m p a r a tiv e in c o m e a c c o u n ts
o f all th e se p a r a te ro a d s o f th e s y s te m a n d th e re su lts fo r th e
e n tire s y s t e m .
T h e a n n u a l re p o rts o f th e C h ic a g o R o c k Is la n d & P a c ific
R y . a n d th e S t . L o u is & S a n F ra n c is c o R R . , th e c h ie f o p e r­
a tin g c o m p a n ie s o f th e R o c k Is la n d s y s t e m , are a lso g i v e n ,
o n s u b s e q u e n t p a g e s o f th is issu e , to g e th e r w ith th eir c o m ­
p a r a tiv e in c o m e a c c o u n ts .
A s th e R o c k Is la n d C o m p a n y is th e o w n e r o f th e e n tire
c a p ita l s to c k , e x c e p t d ir e c to rs’ sh a re s, o f th e C h ic a g o R o c k
Is la n d & P acific R R . C o ., th e in c o m e o f b o th c o m p a n ie s is
in clu d e d in th e fo llo w in g s t a te m e n t:
C O M B IN E D IN C O M E A C C O U N T — RO C K IS L A N D C O M P A N Y A N D
C H IC A G O R O C K I S L A N D & P A C I F I C R A I L R O A D GO.
1907-08.
1908-09.
1905-06
1906-07.
D iv id e n d o n C. R . I . &
P . R y . C o . s t o c k ow n ed
(a ggre ga tin g 5>A% in
’08-0 & ’ 07-8; 5 H % in
$ 3 ,6 8 1 ,8 3 5
$ 3 ,8 5 0 ,8 5 8
$ 4 ,3 7 0 ,8 0 5
'0 6 -7 & 6 M % in ’ 0 5 - 6 ) . $3,6 9 0 ,3 7 2
21,731
32,296
21,560
42,662
O th er in c o m e ___________
T o t a l In c o m e ___________ $3,7 1 2 ,1 0 3
D ed uct—
E x p en ses a n d t a x e s ____
$19,028
I n t . o n C. R . I. & P .
R R . C o . b o n d s _______
3 ,6 7 9 ,9 6 5
D lv . o n preferred s t o c k .
_________

$3,714,131

$ 3 ,8 7 2 ,4 1 8

$31 ,235

$48,153

$24 ,006

3 ,6 7 3 ,6 4 5

3 ,6 6 8 ,0 7 7

3 ,6 6 4 ,4 4 2
(1 )4 8 9 ,5 0 4

$ 4 ,4 1 3 ,4 6 7

$ 3 ,6 9 9 ,8 9 4
$ 3 ,7 0 4 ,8 8 0
$ 3 ,7 1 7 ,1 2 9
$ 4 ,1 7 7 ,9 5 2
B a l., sur. fo r y e a r ___
$12 ,209
$9,251
$ 1 5 5,28 9 $23 5,51 5
T h e p ro fit and loss a c c o u n t o f the R o c k Isla n d C o . p ro p e r sh ow s: Surplus
Jun e 30 1908, $ 11 1,96 4; o th e r In co m e , $529; exp e n se s an d ta x e s , $17 ,1 1 3 ;
s u n d ry Item s n o t a p p lic a b le t o surplus o f cu rren t y e a r , $11 ,6 3 3 ; surplus
Ju n e 30 1009, $83 ,7 4 7 .
B A L A N C E SH EET OF ROCK IS L A N D C O M P A N Y JU N E 30.
1909.
1908.
1909.
1908.
Assets—
S
$
Liabilities—
S
S
Stocks o w n e d ..150,012,031 150,024,920 Common s to ck .i9 6 ,0 0 0 ,000 196,000,000
Cash ................
12,939
19,275 Preferred stock_y54,000,000 y54,000,000
Companies and
Cos. & Individ’s
548,643
_________
Individuals . .
607,420
70,154 Unpaid vouchers
and accounts.
..............
2,385
S u rp lu s ..............
83,747
111,964
Total assets..150,632,390 150,114,349

Tot.liabilities 150,632.390 150,114,349

x Includes: Issued and held In treasury, $6,078,598;
In treasury, S4.729.310.— V. 88, p. 946.

y Includes: Issued and held

Chicago Rock Island & Pacific Railroad.
(Statement fo r Fiscal Year ending June 30 1909.)
The income account and balance sheet of this Railroad
Company, which owns most of the stock of the Railway
Company and the common stock of the St. Louis & San Fran­
cisco, and is itself controlled by the Rock Island Company
through ownership of the entire outstanding stock (see llock
Island Company above), are as follows:
I N C O M E A C C O U N T F O R Y E A R E N D I N G J U N E 30.
190 8-0 9.
1 90 7-0 8.
1 90 6-0 7.
190 5-0 6.
D lv . o n C h ic. R .
$
$
$
$
I
& P a cific
R y . C o. s t o c k (5 M ) 3 ,6 9 0 ,3 7 2 ( 5 ^ ) 3 ,6 8 1 ,8 3 5 ( 5 ^ ) 3 , 8 5 0 , 8 5 7 (6 ^ ) 4 ,3 7 0 ,8 0 5
O th er I n c o m e ..
21,202
31,9 4 9
19,924
19,807
T o ta l in c o m e .
D educt—
E x p e n s e s .............
I n t. on 4 % b o n d s
I n t. on 5 % b o n d s
D iv i d e n d s _____

3 ,7 1 1 ,5 7 4
2,815
2 ,8 1 1 ,7 6 5
868 ,2 0 0
__________

T o t a l...............
B a l. fo r y e a r .

3 ,6 8 2 ,7 8 0
s u r .28,794

3 ,7 1 3 ,7 8 4

3,8 7 0 ,7 8 1

4 ,3 9 0 ,6 1 2

2,2 4 6
2 ,8 0 5 ,4 4 5
8 68 ,200
7 5 ,0 0 0

1,591
2 ,8 0 0 ,9 6 0
868 ,0 1 6
7 5 ,000

1,8 1 7
2 ,7 9 7 ,4 0 0
867,041
5 0 0 ,0 0 0

3 ,750,891
d e f.3 7 ,1 0 7

3 ,7 4 5 ,5 6 7
s u r .125 ,214

4 ,1 6 6 ,2 5 8
eu r.2 2 4 ,3 5 4

•

B A L A N C E SH EET JU N E 30.
1909.
1908.
I
1909.
1908.
Assets—
S
S
i Liabilities—
$
$
Stocks ow ned..2 3 2 ,793,841 232,606,141 Capital s t o c k ...145,000,000 145,000,000
Other Invests..
320,631
319,980 •Gold bonds, 4% 70,386,700 70,199,000
Cash, & c_____
831,269
792,580 Gold bonds, 5 % 17,364,180 17,364,180
j Unpaid coupons
62,110
52,740
Interest, not due
758,040
757,393
374,112
345,394
S u rp lu s.
Total a s s e ts ..233,945,742 233,718,707'
— V. 87, l). 1154.

Tot. Ilabllltles233.945.742 233,718,707

Chicago Rock Island & Pacific Railway.
(Report fo r Fiscal Year ending June 30 1909.)
The full text of the report, comparative balance sheet and
other data will be found on another page. The comparative
income account and operating statistics were given in the
“ Chronicle” last week, on page 1064.— V. 89, p. 1064, 992.

St. Louis & San Francisco RR.
(Report for Fiscal Year ending June 30 1909.)
The text of the report is given on a subsequent page,
also comparative tables of earnings and operations and
balance sheet for two years past, &c. Below are compara­
tive operating statistics for several years.
The comparative income account for two years (on a
subsequent page) has been prepared by the company in
accordance with the new classifications prescribed by the
Inter-State Commerce Commission, and need not be repeated
here, comparisons with earlier years being inaccurate.
O P E R A T IO N S , E A R N IN G S A N D E X P E N S E S .
190 7-0 8.
1906-07.
190 8-0 9.
5,064
5,062
5,069
5,251
M iles op e ra te d (average)
E q u ip m en t—
907
863
800
908
L o c o m o tiv e s ___________
536
461
457
P a ssen ger e q u ip m e n t ___
531
29,984
26,702
24,286
F reigh t e q u ip m e n t _____
26,677
2,688
2,412
1,568
C o m p a n y cars, & c ______
2,680
O perations— •
8 ,4 2 8 ,1 8 3
7 ,4 5 3 ,4 0 9
6,2 5 9 ,0 5 6
P assen gers c a r r ie d --------- 10,607,341
P a ssen gers ca rried 1 m ile 4 6 9 ,4 6 1 ,724 4 1 4 ,1 7 8 ,2 8 9 3 5 7 ,8 9 1 ,2 2 5 322 ,0 0 8 ,0 6 2
2 .1 5 cts.
2.56 cts.
2 .4 6 cts.
H ate per pass, p er m ile 2.0 7 cts.
15,2 7 5 ,6 1 9
16,154,154
R e v . freig h t (ton s) c a r 'd 1 6 ,3 2 6 ,7 2 7
13,848,992
R e v e n u e fre ig h t (tons)
’ 2465448295 2658150453 2306200334
1.01 cts.
0.9 7 cts.
1.01 cts.
R a te p er to n p er m ile ___
224
220
212
A v . tr a !n -lo a d (r e v .)t o n s
214
$1.0455
$1.0430
$0.9934
E a rn , p er pass, train m .
$2,065
52.222
$2,240
E a rn . p er fr ’ t train m __
$7,557
$7,070
57,274
G ross earnings per m lle .
— V . 8 9 , p . 1069. 994.

United States SteelJCorporation.
(Earnings fo r Quarter and Nine Months ending Sept. 30.)
The following statement 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.”
U N F IL L E D O R D E R S O N H A N D .
T on s.
T on s.
T on s.
’ 0 9 -_ 4 ,7 9 6 ,8 3 3 D e c. 31 '0 6 .- 8 ,4 8 9 ,7 1 8 Jun e 30 '0 4 ..3 ,1 9 2 ,2 7 7
'0 9 .- 4 ,0 5 7 ,9 3 9 S e p t. 30 '0 6 .- 7 ,9 3 6 ,8 8 4 M ch. 31 '0 4 .- 4 .1 3 6 ,9 0 1
'0 9 .- 3 ,5 4 2 ,5 9 5 Ju n e 30 '0 6 .- 6 ,8 0 9 ,5 8 9 D ec. 31 '0 3 .- 3 ,2 1 5 ,1 2 3
’0 8 .-3 ,6 0 3 ,5 2 7 M ch . 31 '0 6 . .7 ,0 1 8 ,7 1 2 S e p t. 30 '0 3 .- 3 ,2 7 8 ,7 4 2
'0 8 .- 3 .4 2 1 ,9 7 7 D e c. 31 '0 5 .- 7 ,6 0 5 ,0 8 6 Ju n e 30 ’ 0 3 .-4 ,0 6 6 ,5 7 8
'0 8 .- 3 ,3 1 3 ,8 7 6 -Sept. 30 '0 5 .- 5 ,8 6 5 ,3 7 7 M ch . 31 ’ 0 3 .-5 ,4 1 0 ,7 1 9
'0 8 .- 3 ,7 6 5 ,3 4 3 Ju n e 30 '0 5 .- 4 ,8 2 9 ,6 5 5 D e c. 31 ’ 0 2 .-5 ,3 4 7 ,2 5 3
'0 7 .- 4 ,6 2 4 ,5 5 3 M ch. 31 '0 5 .- 5 ,5 0 7 ,5 6 0 S e p t. 30 '0 2 .- 4 ,8 4 3 ,0 0 7
'0 7 .- 6 ,4 2 5 ,0 0 8 D e c. 31 '0 4 .- 4 ,6 9 0 ,2 0 3 Ju n e 30 ’ 0 2 .-4 ,7 9 1 ,9 9 3
1 '0 1 .- 2 ,8 3 1 ,6 9 2
'0 7 .- 7 ,6 0 3 ,8 7 8 S e p t. 30 '0 4 .- 3 ,0 2 7 ,4 3 6 N o v .
'0 7 .- 8 ,0 4 3 ,8 5 8
R E S U L T S F O R Q U A R T E R S E N D I N G S E P T . 30.
1909.
1908.
1907.
$
5
5
43,8 0 4 ,2 8 5
2 7,106,274
N et ea rn in gs__________________________ 3 8 ,2 4 6 ,9 0 7
D educt—
436 ,675
589,358
S in k , fu n d s o n b o n d s o f substd. c o s . .
506,717
5 ,359,182
6 ,519,822
D e p r e c ’ n an d reserve fu n ds (reg . p rov) 6,885,171
5 ,946,809
5,633,122
I n t . o n U . S . S teel C orp. b o n d s ----------5,8 8 5 ,9 0 0
1 ,365,153
1,303,840
S in k , fu n d s o n U . S . Steel C orp. b ’ d s .
1,426,062

S e p t.
Ju n e
M ch .
D e c.
S e p t.
Ju n e
M ch .
D e c.
S e p t.
Ju n o
M ch .

30
30
31
31
30
30
31
31
30
30
31

1 4,703,850
13,1 0 7 ,8 1 9
14,046,142
1 3 ,9 9 8 ,4 5 5 2 9 ,758,143
B a la n ce ................................................... 2 3 ,5 4 3 ,0 5 7
D iv id e n d o n p re f. s to c k (1 % % ) _____
6 ,3 0 4 ,9 1 9
0 .3 0 4 ,9 1 9
6,3 0 4 ,9 1 9
D iv id e n d o n co m m o n s t o c k ---------------( 1 )5 ,0 8 3 ,0 2 5 (^ )2 ,5 4 1 ,5 1 3 (^ )2 ,5 4 1 ,5 1 3
Surplus fo r the q u a rte r ------------------- 12,155,113
O n a c c o u n t o f ex p en d itu re s m ad e and
to be m ade fo r a d d ’l p r o p e r ty , new
pla n ts, con s tr u c tio n a n d disch arge
o f ca p ita l o b lig a tio n s ----------------------- 1 0 ,000,000
S p ecial I m p r o v e m ’ t & r e p la c e ’ t f u n d .
---------------

5 ,152,023

2,1 5 5 ,1 1 3

5,152,023

B a lan ce o f surplus fo r q u a rte r ............

20,911,711

15,000,000
1 , 000,000
4,9 1 1 ,7 1 1

N E T E A R N I N G S F O R N I N E M O N T H S E N D I N G S E P T . 30.
1908.
1907.
1909.
1906.
$
$
$
$
7 ,2 6 2 ,6 0 5
5,052,743
12,838,703
1 1,856,375
J a n u a ry ________________
7,6 6 9 ,3 3 0
5,709,428
1 0 ,9 5 8 ,2 7 5
12,145,815
F eb ru a ry _______________
7 ,466,834
14,137,974
7 ,9 8 9 ,3 2 7
1 3,819,840
M a r c h ____________________
First q u a rte r _________ 2 2 ,921,268
8 ,1 6 3 ,2 4 4
A p r il________________ ___
9 ,661,228
M a y _____________________
__________________ 11 516,019
Ju n e

18,229,005
6 ,7 0 1 ,0 8 0
6 ,021,279
7 ,4 8 2 ,7 9 7

3 9 ,1 2 2 ,4 0 2
1 4 ,600,838
16,050,832
14,846,035

3 6 ,0 3 4 ,4 9 0
1 2 ,581,902
14,041,601
1 3,501,530

29,340,491
12,530,770
12,437,754
13,278,383

2 0 ,205,750
8 ,5 9 9 ,6 3 0
9,152,31 l
0,3 5 1 ,3 3 3

4 5 ,5 0 3 ,7 0 5
13,804,167
15,279,173
1 4 ,7 2 0 ,9 4 5

4 0 ,1 2 5 ,0 3 3
12,242,098
13,158,860
12,713,666

S econ d q u a r t e r ...........
J u l y _____________________
A u g u s t --------- ----------------S e p t e m b e r ----------------------

38,1 1 4 ,6 2 4
2 7 ,106,274 4 3 ,8 0 4 ,2 8 5
T h ird q u a rte r ________ 3 8 ,2 4 6 ,9 0 7
6 5 .6 0 1 ,0 3 5 128 ,430 ,48 2 114 .874 .14 7
T o ta l nine m o n t h s _____ 90,5 0 8 ,6 6 6
I N C O M E F O R N I N E M O N T H S TO S E P T . 30.
1906.
1908.
1907.
1909.
$
S
8
$
N et e a rn in g s _____________ 90,5 0 8 ,6 6 6 6 5 ,6 0 1 ,0 3 5 128,430,482 114 .874 .14 7
D educt—
5,303,401
5 ,041,073
4 ,7 4 3 ,7 8 7
S in k in g f u n d s , ................
5,484,264
16,513,296
15,7 3 0 ,0 2 7
10,4 3 0 ,5 7 0
D e p r e c'n & reserve f ’ nds 1 5 ,859,837
3 ,0 0 0 ,0 0 0
6 ,5 0 0 ,0 0 0
S p eed Im p. & r e p la c ’ t f ’ d
--------------16,981,122
17,151.354
I n t e r e s t __________________ 17,736,970 1 7 ,920,294
4 8 ,0 0 0 ,0 0 0
34.500.00C
C o n s tru ction , & c ________ 1 0 ,000,000
T o ta l d e d u c t io n s .......... 4 9 ,081,071
33,0 9 4 ,6 5 1
8 9 ,7 9 7 ,8 1 9
7 8 ,922,454
B a la n c e _____ ______ _____ 4 1 ,4 2 7 ,5 9 5 3 2 ,5 0 6 ,3 8 4 3 8 ,6 3 2 ,6 6 3
35,9 5 1 ,6 9 3
D ividends—
18.914,757
18,914,757
18,9 1 4 ,7 5 7
P referred 5 M % .......... . . . 1 8 ,914,757
C o m m o n ...................... (2 X ) 11436807(1 >S)762 1539(1 H )7 6 2 4 5 3 9 (l K )7 6 2 4 5 3 7
T o ta l d i v i d e n d s - ____ 3 0 ,3 5 1 ,5 6 4
U n d iv id e d earns. 9 m os. 11,076,031

2 6 ,5 3 9 ,2 9 6
2 6 ,5 3 9 ,2 9 6
5 ,967,088
12.0 9 3 .3 6 7

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

As to increase in common stock dividend, see item on
another page.— V. 89, p. 353, 291.
National Casket Co., New York.
(Statement o f Sept. 1 1909, Filed in Massachusetts,
1909.
/Use/.?—
$
Real csia te_________ 1,447.805
Machinery ________ 481,790
M erchandise________ 1,818,172
Cash & debts rec’ble. 1,365,702
Good will, trade­
marks & patents..1,895,108

JfJfejj

1908
$
1,4:13,307
4S4.337
1,858,195
1,334.353
1,895,107

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

' T o t a l ..................... 57,008,582 7,005,799
— V. 85, p. 1212.




1909.
1908.
Liabilities—
8
$
Capital s tock _______ 4,384,300 4,384,300
Accounts payable___
11,999
168,362
Hal., profit and loss. 277,356
390,973
Funded Indebtedness 848,500
747,500
S u r p lu s ....................... 1,486,427 1,314,004
T o t a l ...................... 7,008,582 7,005,799

International Paper Company.
(Report fo r Fiscal Year ending June 30 1909.)
President A. N. Burbank, Corinth, N. Y ., Oct. 27 1909,
says:
T h e s trik e th a t b e g a n In A u gust 1908 an d con tin u e d u n til the m id d le o f
D e ce m b e r 1908, o r n early five m o n th s b e fo re the m ills w ere again In full
o p e r a t io n , m a te ria lly cu rta ile d th e c o m p a n y ’s earnings.
In a d d itio n
t o th e strik e , an d fo r a p e rio d co m m e n cin g a b o u t O ct. I 1908 an d e x t e n d ­
in g t o F e b ru a ry 1909, o p e ra tio n s w ere c o n s id e ra b ly re d u ce d on a c c o u n t o f
low w a te r, sin ce w h ich tim e , h o w e v e r, th e m ills h a v e been ru n n in g w ell,
an d th e earnings h a ve Im p ro v e d .
T h e p h y sica l c o n d itio n o f th e p lan ts has, as h e r e to fo r e , been care fu lly
m a in ta in e d , such e x p e n d itu re s h a v in g been ch arged Into o p e ra tin g a c c o u n t.
O v e r a y e a r a g o th e c o m p a n y sta rte d In V e rm o n t a tree n u rsery, t o ascer­
ta in w h at ca n be d o n e to w a rd th e raising o f sp ru ce trees. T h is prom ises
w e ll, a n d th e c o m p a n y has o v e r 500 ,000 y o u n g sp ru ce trees re a d y t o be
tra n s p la n te d , an d w h ich w ill be largely a d d e d t o fro m y e a r to y e a r.
E A R N IN G S , E X P E N S E S A N D C H A R G E S.
1908-09.
1907-08.
1906-07.
190 5-0 6.
G ross In co m e ...................... $18 ,2 3 8 ,4 7 7 $ 2 0 ,7 1 6 ,3 0 4 $ 2 1 ,8 4 1 ,4 8 6 $ 21 ,837 ,81 6
C ost o f raw m aterials,
m a n u fa ctu rin g , & c . . . 16,4 5 6 ,3 7 9
17,878,134
1 9 ,0 0 0 ,0 1 6
1 8 ,6 7 9 ,2 9 7
N e t ........................ ................ $ 1 ,7 8 2 ,0 9 8
T a x e s , Insurance & I n t.
1 ,183,996
B a la n c e _______________
D Ivs. o n p re f. s t o c k . . .

$ 2 ,8 3 8 ,1 7 0
1,202,252

$ 2 ,8 4 1 ,4 7 0
1,217,853

$ 3 ,1 5 8 ,5 1 9
1 ,172,978

$59 8,10 2
$ 1 ,6 3 5 ,9 1 8
$ 1 ,6 2 3 ,6 1 7
$1,985,541
(2 )4 4 8 ,1 3 4 (5 )1 ,1 2 0 ,3 3 5 (6 )1 ,3 4 4 ,4 0 2 (6 )1 ,3 4 4 ,4 0 2

Surplus fo r y e a r ______
P re v io u s su rp lu s________

$149,968
7,3 8 1 ,0 8 3

$515,583
6 ,8 6 5 ,5 0 0

$27 9,21 5
6 ,6 6 1 ,2 8 5

$641,139
6 ,0 2 0 ,1 4 7

D e d u c t d isc, on b o n d s . .

$7,531,051
_______

$ 7 ,3 8 1 ,0 8 3
_______

$ 6 ,9 4 0 ,5 0 0
7 5 ,0 0 0

$6,6 6 1 ,2 8 6
_______

$ 7 ,3 8 1 ,0 8 3

$ 6 ,8 6 5 ,5 0 0

$ 6 , 6 6 1,28 0

Surplus Jun e 3 0 _____ $7,5 3 1 ,0 5 1

B A L A N C E S H E E T J U N E 30.
A ssets—
1909.
1908.
1907.
M ill plants an d w ater p o w e r s _________ $4 5 ,6 3 4 ,9 0 7 $4 5 ,5 6 9 ,8 5 3 $45 ,667 ,77 1
W o o d la n d s ...................................
3 ,6 1 7 ,7 8 7
3 ,6 9 7 ,5 0 0
3 ,769,501
Secu rities o f su n d ry c o r p o r a tio n s _____
9 ,9 5 7 ,7 1 2
10,1 1 4 ,5 3 2 10,3 2 5 ,1 3 0
S in k in g f u n d ..................
53,136
1,301
486 ,5 0 0
P a te n ts ..................
5,700
_______
_______
F u rn itu re an d fix tu re s ________________
18,432
23,238
28,948
C a s h ................
774 ,487
7 5 1 ,7 0 7
1 ,0 4 7 ,3 3 5
A c c o u n ts an d n otes r e c e iv a b le _______
3 ,5 7 5 ,2 8 7
3 ,9 1 4 ,5 1 3
4 ,6 8 4 ,2 0 8
In v e n to r ie s o f m erch an dise on han d
a n d a d v a n ce s fo r w o o d o p e r a tio n s .
5 ,8 6 0 ,2 5 7
5 ,0 6 1 ,6 5 0
3 ,5 6 1 ,3 2 2
I n t . an d d isco u n t a d ju s tm e n t------------54,491
_______
_______
D uo torn su b s .d ia ry c o m p a n ie s -------1 ,2 1 8 ,1 9 0
_______
_______
T o t a l .............................................. ..............$ 7 0 ,7 7 0 ,3 8 6 $ 60 ,134 ,35 4 $ 60 ,570 ,81 4
L ia b ilities—
C o m m o n s t o c k . . .......................
.$ 1 7 ,4 4 2 ,8 0 0 $17 ,4 4 2 ,8 0 0 $1 7 ,4 4 2 ,8 0 0
2 2 ,4 0 6 ,7 0 0 2 2 ,4 0 6 ,7 0 0
P referred s t o c k ________________________ 2 2 ,4 0 6 ,7 0 0
B on d s ________________________
1 7 ,306,000
1 7 ,560,000 1 8 ,728,000
N otes an d a cco u n ts p a y a b le __________
4 ,1 1 4 ,8 1 1
3 ,8 4 2 ,2 4 5
3 ,8 4 8 ,8 4 2
A ccru e d Interest an d w ater rents,
n o t d u e _______________________________
3 2 7 ,6 3 5
277 ,458
278 ,972
D ue to su b sid ia ry c o m p a n ie s ................
1 ,529,356
--------------------D iv id e n d J u ly 15_______________________
112,033
2 24 ,067
______
S u rp lu s __________________________________
7 ,531,051
7 ,3 8 1 ,0 8 3
6 ,8 6 5 ,5 0 0
T o t a l __________________________________ $7 0 ,7 7 0 ,3 8 6 $69 ,1 3 4 ,3 5 4 $ 6 9 ,570 ,81 4
- V . 89, p . 9 9 7
. ___________ _

GENERAL

INVESTMENT

NEWS

RAILROADS, INCLUDING ELECTRIC ROADS.
Alabama Great Southern RR.— Report.— For year ending
June 30:
F is c a l
O perating
Y ear— R evenu e.
1908-09 .$ 3 ,5 6 0 ,2 9 2
1907-08 . 3,572,981
— V . 89, p. 102.

N et (after
Other
Interest P r e f. D iv .
T a xes.)
In com e. R ents, Vie.
(6 % ).
$932,199 $147,462 $52 9,40 7
$202,821
560 ,875
353,971 501 ,809
202,821

B a lan ce,
S u rp lu s.
$347,433
210 ,216

Alaska Central Ry.— Successor.— Press despatches state
that possession of the property, which was purchased on
Oct. 1 1 by F. G. Jemmett, representing the interests liquidat­
ing the Sovereign Bank of Toronto, was transferred on Oct. 20
to the Alaska Northern Ry., a new company which has
been formed to take over the same.— V. 89, p. 992, 528.
Alaska Northern Ry.— New Company.— Sec Alaska Cen­
tral lly . above.
Albany Southern RR.— Bonds Offered.— Messrs. Redmond
& Co. and J. & W . Seligman & Co. are offering, by adver­
tisement on another page, at 97^2 and interest, yield­
ing over 5)/8% income, the unsold balance of Sl,250,000
first mortgage 5% sinking fund gold bonds, due Sept. 1 1939
and callable as a whole, but not in part, at 106 and interest.
The company is a consolidation of the properties of the Al­
bany & Greenbush Bridge Co. and the Albany & Hudson
R R . Co. President R. A. C. Smith, in a letter addressed
to the bankers, states in substance:
M essrs. J. G . W h ite & C o ., E n gin eers, e stim a te the p re se n t re p la ce m en t
v a lu e o f these p ro p e rtie s as fo llo w s: A lb a n y & G reen bu sh B rid ge C o .,
$1,200,000 ; ra ilw a y p r o p e r ty , In clu din g ligh tin g pla n ts, real esta te, & c.,
$3,728,116 ; to ta l, $ 4 ,9 2 8 ,1 1 6 .
All o f this p r o p e r ty has been a cq u ire d free
fro m b o n d e d d e b t , the 8 1 ,7 5 0 ,0 0 0 b o n d s o f the o ld A lb a n y & H u dson
h a vin g been ca n ce le d an d the A lb a n y & G reen bu sh B ridge C o. h a v in g no
b o n d s o u tsta n d in g.
T h e new c o m p a n y has issued and sold to y o u $1,2 5 0 ,0 0 0 first m ortg age
5°,', b o n d s o u t o f a to ta l au th o riz e d Issue o f $ l ,5 0 0 ,0 0 0 , s o le ly fo r the a c q u i­
s itio n o f new p r o p e r ty , c o m p le tin g the pu rch ase o f the b rid g e , d o u b le ­
tra ck in g the line fro m A lb a n y to K in d e rh o o k , & c. T h e m o rtg a g e covers
th e en tire p ro p e rty now o w n e d o r h e re a fte r a cq u ire d and Is a d ir e ct first
lien . T h e b o n d e d d e b t is o n ly a b o u t 2 5 % o f the r e p la ce m e n t va lu e .
N et
earnings fo r the p ast three years h a ve av e ra g e d n early d o u b le the presen t
fix e d ch arges, and gross earnings are sh o w in g a s te a d y g ro w th .
T h e co m p a n y ow n s In fee 37.2 m iles o f third -rail e le ctr ic ra ilw a y, laid
w ith 80-lb. steel rails, e x te n d in g fro m A lb a n y an d R en sselaer through
v a riou s Intervening tow n s to K in d e rh o o k L a k e an d H u d son , a m odern
p o w e r plant o f am p le c a p a c ity an d the h igh w ay toll brid g e 1 ,200 fe e t long
o v e r the H u dson R iv e r a t A lb a n y . T h e c o m p a n y d o e s e le ctr ic ligh tin g In
all the tow n s se rve d e x c e p t A lb a n y , an d ow n s the gas plan ts In R en sselaer
and H u d so n .
It also ow ns valu able real estate In A lb a n y and a large
am u sem en t park a t K in d e rh o o k Lake.
Gross E a rn ings o f the R ailw av and Lighting D epartm ents.
1905.
1906.
1 907.
1908.
1909.
$295,911
$320,121
$33 8,81 9
$332,081
$351,514
A ctu a l E a rn in g s o f Com bined P roperties fo r 1909 and Estim ate o f E n gin eers
fo r 1910 and 1911 on C om pletion o f Present Im provem ents.
Gross
N et
Present
B a l.,
Year—
earns.
earns.
T a x es, int. ch'ges.
su rp.
1909 (actu al) ..............
$406,178
$135,642 $32,098
$62 ,500 $41,044
1910 ( e s t i m a t e d ) ................ 427 ,500
170,766
3 2 ,600
62,500
75,666
1911 ( e s t i m a t e d ) _________ 446 ,500
182,500
3 2 ,600
62,500
87,4 0 0
T h e fra n ch ises are p erp etu al an d co n ta in no u n fa v o ra b le cla uses. T h e
p o p u la tio n served Is, a c c o r d in g to the last cen su s, 133,000.

T h e re c o rd in g ta x h a v in g b e e n p a id , these b o n d s a r c e x e m p t fto m t a x ­
a tion in N ew Yorkr S ta te . T h e rem ain in g 5250,000 b o n d s can be Issued
o n lv fo r 8 5 % o f the c o s t o f a d d itio n s o r b e tte rm e n ts , an d o n ly w h e n th e
not earn in gs, a fte r p a y m e n t o f ta x e s , are d o u b le th e in terest ch a rge s, in ­
cluding th e b o n d s to be issu ed. A n a n n u al sinking fu n d w ill p u rch a se
an d ca n cel these b on d s at n ot to e x c e e d 106 and in terest, as fo llo w s. M ch . 1
l ‘>17 -F e b 28 1922, 1 M % o e r an n u m o f to ta l .$1 , 500,000 a u th o r iz e d : M ch . 1
1 9 2 2 -F eb 28 1929, 2% ; M ch . l 1 9 2 9 -A u g . 31 1939, 3 % .
If th e b o n d s are
n o t o b ta in a b le at 106 a n d Interest, the sinking fu n d is to b e in v e s te d In
securities legal fo r N ew Y o r k S ta te savin gs b a n k s .— V . 89, p . 720.

Albany & Susquehanna RR .— Special Dividend Out of
Savinas from Refunding.— The directors have declared a
special dividend of 30% on the $3,500,000 stock, payable to
holders of record Nov. 15, calling for $1,050,000. The divi­
dend is to be disbursed from the proceeds of the judgment
awarded against the Delaware & Hudson for back rentals,
held to be due by reason of the saving of interest through
refunding operations. It is expected that future dividends
will be increased by the larger rentals to be paid from 9%
to 12.45% yearly.
.
The directors in a circular dated Oct. 29 say in part:
T h e D elaw are C om p a n y has n o w paid to the c o m p a n y th e a m o u n t o f the
ju d g m e n t reco v e r e d o n Ja n . 21 1908 o f $ 1 ,1 0 7 ,9 2 3 , w ith Interest to O ct. 22
1909, the d a te o f p a y m e n t, and also the a d d itio n a l Installm ent o f rental duo
D ec. 31 1908, o f $12 0 ,7 5 0 , w ith Interest to O ct. 22 1909.
th e s e p a y m e n ts
a m o u n te d In all to 5 1 ,3 5 0 ,5 1 2 . T h e litiga tio n has a so e sta b lish e d th e p rin ­
cip le th a t in th e fu tu re a b a la n ce o f rental a m o u n tin g to $ 1 2 0 ,7o0 pet a n ­
num w ill b e p a y a b le to th e S usq uehann a C om p a n y.
T h e exp en ses (in clu d in g fe e s o f all counsel an d disbu rsem en ts o f e v e r y
ch aracter) a m o u n t to $ 2 5 9 ,5 9 9 , an d have b e e n p aid
° ilp f t in n T f h m i
a n ce in the c o m p a n y ’s treasu ry the dJrectora h a v e , b y r e s o lu tio n , d eclared
a d iv id e n d o f $30 p er sh are, p a y a b le to e a ch s to c k h o ld e r o f l c t o t d at the
close o f b u s ln c s s o n^N ov. 15 100 o'. T h e tran sfer h o o k s o r t he3 c o m p a n y w ill
n o t b e c lo s e d , and ch eck s will be m ailed to sto ck h o ld e rs o n
o v . lb .
l no
d iv id e n d thus p a y a b le will a m o u n t to $ 1 ,0 5 0 ,0 0 0 , an d will le a v e In th e
< 0 1U s ex p e c t c if t ha t \ he''! Delaware C o m p a n y will h e re a fte r p a y th e ludance
o f ren ta l, a m o u n tin g to $12 0 ,7 5 0 , d u e D e c . 31 In ea ch y e a r , e q u a l t o 3 .4 5 %
u p on the c o m p a n y 's s to c k , and this sum w hen re ce iv e d will he ava ila b le
fo r e x tra d iv id en d s as d e te rm in e d b y th e d ire cto rs o f this c o m p a n y .—
V . 89, p. 1068.

Atlantic Coast L in eR R .— New Mortgage, etc.— The share­
holders will meet N ov. 1 G to vote—
(1) O n a u th orizin g g o ld b o n d s n o t e x c e e d in g In the a g g re g a te $ 2 0 0 ,0 0 0 ,­
00 0 , bearin g Interest at n o t e x c e e d in g 4 % p er an n u m and m atu rin g a t such
d a te o r dates as m ay be d e te rm in e d b y th e b o a rd o f d ir e cto r s , to b e secu red
b y m ortg a g e o r d e e d o f tru st, and the use o f su ch b o n d s o r th eir p ro ce e d s
to p a y o r retire fro m tim e to tim e the u n d e rly in g m o rtg a g e b o n d s (a g g re ­
g a tin g som e $ 8 4 ,5 2 3 ,7 5 0 — E d .) , an d fo r the r e tire m e n t, b y e x c h a n g e , o f
th e 4 % certifica tes o f In d ebted n ess n o t e x c e e d in g $ 23 ,562 ,50 0 a u th o riz e d In
1902 (fo r the retirem e n t a t 125 o f the $18 ,8 5 0 ,0 0 0 p re fe rre d s t o c k , all e x ­
c e p t $ 1 ,5 9 6 ,6 0 0 o f w h ich has be e n r e tire d , th e ce rtifica te s o f I n d e b te d ­
ness issued in ex ch a n g e th e re fo r, b ein g n o w o u ts ta n d in g to a to ta l o f $ 2 1 ,­
566 600— E d . ) , and fo r fu n d in g In d ebted n ess o f the c o m p a n y , co n s tr u c tin g ,
c o m p le tin g , im p ro v in g o r m ain tain in g its lin es o f ra ilro a d , o r fo r o th e r
COr( 2? r l i n o r d or *° o° p ro v Id e an a lte rn a tiv e m e th o d o f retirin g su ch ce rtifi­
cates o f In d ebted n ess, to co n s e n t to the Issue o f n o t e x c e e d in g $ 2 3 ,5 6 2 ,.>00
o f new 4 % d eb en tu re b o n d s, to m atu re an d be re d e e m a b le as the board
m a v d eterm in e, and to m ak in g a d e b e n tu re g o ld b o n d a g r e e m e n t w ith the
S afe D ep osit & T ru st C o. o f B a ltim o re , as tr u s te e , p r o v id in g f o r th e right
o f co n v e rs io n , b y the h olders th e r e o f, o f said d e b e n tu re b o n d s Into the
co m m o n ca p ita l s to c k o f th e railroad a t the tim e s an d u p o n such term s
as the b oa rd m a y d e te rm in e .
(3)
O n au th oriz in g su ch Increase o f the c o m m o n ca p ita l s to c k as w ill
b e su ffic ie n t, to g e th e r w ith th e c o m m o n ca p ita l s to c k h e re to fo re au th orized
b u t n ot Issued (th e a m o u n t o f co m m o n s to c k n o w o u ts ta n d in g Is $ 4 8 ,5 3 7 ,­
600__ E d .) , to retire a n y o r all o f its said d e b e n tu re b o n d s , If desired b y
th e h olders th ereof.

I t is understood that the company does not intend to
sell any of the new bonds at present.— V. 89, p. 161.
Bangor & Aroostook R R .— Report.— For year end. June 30:
Fiscal
Gross
Net
Interest Dividends
Iial.,
(4 % ).
su rp .
Year
earnings.
earnings, taxes, &c.

Albert to Edmonton and Edmonton to the Pacific and (4)
authorizing the construction of the following lines:
(a) D u n d e e n o r th e r ly an d e a ste rly t o th e W in n ip e g R iv e r ; (t>) P orta g e
la P rairie so u th e r ly a n d e a ste rly t o T w p . 2, R g . 7, E . P . M .; (c) H a rtn ey
w e ste rly t o T w p . 5, R g . 7, W . 2 M .; (d) M oose J a w so u th e rly and ea sterly
to B ie n fa it, w ith a b ra n ch t o R o c h e P e rce e ; (e) b e tw e e n D a v id s o n an a DIsle y o n th e Q . L . L . & S ask . R y .w e s te r ly a n d n o rth w e ste rly t o the S a sk atoon C a lva ry line; (/) L a sh bu rn w e ste rly t o a p o in t b e tw e e n C am rose an d E d m o n ­
to n ; (<7) S a s k a to o n -C a lv a ry line near T w p . 28, R g . 6 , W . 4 M ., t o R o c k y
M ou n tain H ou se; (h) S a s k a to o n -C a lv a r y line near crossin g o f R ed D eer
R iv e r n o rth w e ste rly th o ru g h o r near In n lsfa ll a n d R o c k y M o u n tain H ou se
t o h ead w aters o f B razeau an d M c L e o d R iv e rs an d t o Y e llo w head Pass;
(i) W ln n lp e v o s is s o u th e r ly t o so u th en d o f L a k e M a n ito b a ; {j) a p o in t
be tw e e n P rin ce A lb e rt an d B a ttle fo rd n ear T w p . 4 9 , R . 3 , W . 3 M ., north
w e ste rly a n d n o r th e r ly t o G rea t S lave L a k e; (k) a p o in t east o f L a k e M an!
t o b a w e ste rly v ia th e N arrow s t o c o n s tr u c te d line be tw e e n G ra n d view an d
R o b lin .— V . 89. p .6 6 5 , 285 .

Chicago Burlington & Quincy R R .— Exchange Premium
to be Reduced Nov. 15.— The premium of $25 offered on ex­
change of Hannibal & St. Joseph 6s for the company’s gen­
eral mortgage 4% bonds w ill, on Oct. 1, be reduced to $ 2 2 50
per bond.— V. 89, p. 720.
Chicago Cincinnati & Louisville R R .— Control.— Newman
Erb and associates have purchased, it is said at 50,
$2,600,000 of the $3,016,000 “ general and refunding mort­
gage” 4j/£% bonds and some amount of the company’s car
trusts, in addition to the $374,000 notes referred to last week.
M r. E r b Is q u o t e d as s a y in g th a t his pu rch ases h a v e be e n m ade w ith a
v ie w t o c le a n in g up th e p r o p e r t y , sellin g It u n d e r fo re clo su re an d e v en tu a lly
tu rn in g It o v e r t o a larger s y s te m .
W h ile he ad m its o n ly t o h a v in g sus­
p icio n s as t o w h o th e p u rch a ser w ill b e , it Is gen era lly b e lie v e d th ere e x ­
ists an u n d e rs ta n d in g w ith E d w in H a w le y a n d th e C h esapeake & O h io s y n ­
d ica te b y w h ich th e r o a d , o r a t least th e m id d le d iv isio n , w ill in th e end
b e c o m e th eir p r o p e r t y .— V . 89, p . 1068.

Chicago Peoria & St. Louis R y .— Plan Operative.— The
plan of reorganization dated July 7 1909 was declared effec­
tive as of Oct. 26. Compare V. 89, p. 285, 592, 778.
Chicago St. Paul Minneapolis & Omaha R y.— Two Ad­
ditional Directors.— James T . Clark of the St. Paul and John
D. Caldwell of Chicago have been elected directors, increasing
the membership of the board from 13 to 15 members.—
V. 89, p. 775, 162.
Chicago Terminal Transfer R R .— Sale Ordered.— Judge
Kohlsaat at Chicago on Oct. 29, upon petition by the Balti­
more & Ohio R R . Co., entered an order directing that the
foreclosure sale take place on a date to be determined by
Special Master H. W . Wales, and in accordance with the
original decree entered Feb. 20 1907 (V . 84, p. 693). This
action, it is supposed, follows the practical closing of the
deal for the purchase of the C. B. & Q. stock interest by
the B. & O.— V. 89, p. 1066.
Cincinnati New Orleans & Texas Pacific R y.— Report.—
For year ending June 30:
Gross
N et (after Other R entals & P f .D i v .C o m .D iv . D a l.,
F isca l
R evenu es.
T a x es ). In co m e.
In terest.
(5 % ).
(5 % ).
S u rp .
Y ea r.
$
$
$
$
$
$
$
1908-09 .7 ,8 2 6 ,9 8 2 2 ,5 0 7 ,2 9 9 144 ,6 0 5 1 ,4 5 6 ,9 0 5 118,889 150,000 926,110
1907-08 7 ,8 9 2 ,0 5 0 1 ,6 3 1 ,5 7 7 4 39 ,592 1,4 6 3 ,6 5 9 100 ,000 150,000 3 57 ,510
F r o m the ba la n ce as a b o v e In 1908-09 w as d e d u cte d $67 8,47 5 fo r “ p erm a ­
n e n t im p ro v e m e n ts , a d d itio n s an d b e t t e r m e n ts ,” a g ain st $34 0,00 0 In 1907OS, le a v in g $24 7,63 5 In 1908-09, a ga in st $ 1 7 ,5 1 0 .— V . 8 7 , p . 1296.

Clearfield & Mahoning R y .— New Guaranteed Stock.— See
Buffalo Rochester & Pittsburgh Ry. above.— V. 89, p. 471.
Cleveland Cincinnati Chicago & St. Louis R y .— New
Bonds.— Action by the shareholders on the proposed new
$100,400 $43,075 issue of $20,000,000 bonds was postponed from Oct. 27 to
1 9 0 8 -0 9
..- $ 2 ,9 1 6 ,8 1 5
$ 1 ,1 2 7 ,6 5 0
$98 4,17 5
97,040
9,879
1907—08 ~ I I 1 1 _____ 2,8 4 4 ,0 8 2
1,044,261
937,342
N ov. 1 7 — V. 89, p. 778, 720.
— V . 89, p . 34 7 , 161.
Buffalo Rochester & Pittsburgh Railway — To Guarantee
Delaware & Hudson Co.— New Director.— Robert S. L ov­
Dividends on $250,000 Additional Stock o f Clearfield & ett, President of the Union Pacific R R ., has been elected
Mahoning R y.— The shareholders will meet N ov. 22 to act a director, succeeding the late E. H . Harriman.
on a proposition “ to increase the indebtedness of the company
Dividend Out of Judgment.— See Albany & Susquehanna
by voting to guarantee dividends at the rate of 6 % per R R . above.— V. 89, p. 1068, 847.
annum on an additional $250,000 stock of the Clearfield &
Grand Trunk Western R y .— Option to Holders of Maturing
Mahoning R y .” — V. 89, p. 468, 407.
Bonds.— The company is offering, by advertisement on an­
Canadian Northern R y.— 1'Jxtension to Pacific Coast— other page, to the holders of the $563,000 first mortgage 6%
Agreement as to Guaranty of Interest by British^ Columbia.—— North Western Grand Trunk R y. Co. bonds due Jan. 1 1910
An agreement has been made with the British Columbia the option of receiving payment in cash on presentation of
Government under which if the general election next month their bonds at the Bank of Montreal, N. Y . City, on or after
is favorable and the Provincial Legislature gives its sanction, Jan. 1 1910, or of exchanging them for an equal amount of
the company will build the 600 miles of railway from Yellow 4% first mortgage bonds due in 1950, unconditionally guar­
Head Pass to Vancouver within four years in consideration anteed by the Grand Trunk Ry. Co., “ both as regards prin­
of a guaranty of interest by British Columbia on 4% bonds, cipal and interest.” Holders are requested to notify Presi­
to be issued at $35,000 per mile. The Premier, Hon. Robert dent Chas. M. Hays, Montreal, as to their desire respecting
McBride, made the following statement:
method of retirement. The first mortgage bonds due in
1950 heretofore issued have been guaranteed only as to in­
W e h ave en tered Into a co n tr a c t w ith the C a nadian N o rth e rn l t y . fo r
the co n s tr u c tio n o f a ro a d fro m th e Y e llo w h e a d Pass to K a m lo o p s , b y w ay
terest.— V. 83, p. 687.
o f the N orth T h o m p s o n Itlver: fro m K a m lo o p s to W e s tm in s te r an d V a n ­
c o u v e r , and fro m a p o in t near V a n c o u v e r t o E n glish P lu gs t o m ake a firstIllinois Central R R .— Listed.— The New York Stock E x­
cla ss co n n e c tio n wdth V ic to r ia , b o th fo r passengers an d fre ig h t, and to
change has listed $ 1 2 ,000,000 “ purchased lines first mort­
bu ild a railw ay fro m V icto ria t o B a rclay S o u n d . T h e dista n ce In all will
be a b o u t 600 m iles. T o assist the c o m p a n y In th e c o n s tr u c tio n o f this
gage” 3)Aj% bonds, due 1952.— V. 89, p. 1069, 993.
r oa d , w hich will cost a t least a b o u t $50,000 per m ile, the G o v e rn m e n t will
Inter-State Railways, Philadelphia.— Payment of August
ask the le g is la t u r e t o gu aran tee Interest at 4 % u p o n $35 ,000 per m ile.
F o r secu rity the P ro v in c e w ill h old a first m o rtg age on the line o f railw ay
Coupons.— Notice was given on Oct. 27 that the interest
In B ritish C olu m b ia an d w ill have a c o v e n a n t from the C anadian N orth ern
coupons of the $10,776,600 4% collateral trust bonds, due
l t y . C o. In d em n ify in g it a g ain st a n y loss th a t m ight p o s s ib ly o c c u r .
A Canadian p ap er a d d s: “ T h e c o m p a n y 's pla n , as specified In th e a gree­
Aug. 1 1909, would be paid on presentation to the Real
m e n t, also includ es the b u ild in g o f a railroad across V a n c o u v e r Isla n d to
Estate Title Insurance & Trust Co. of Philadelphia, trustee,
B a rcla y S ou n d , w here the c o m p a n y w ill establish an o ce a n p o r t an d one
o f th e finest natural harbors o f th e Island.
O n the m ainland the c o m p a n y
Philadelphia, on and after Oct. 29, and that the interest on
will bu ild sou th w ard fro m the Y ellow H ead Pass t o a p o in t near N ew
said bonds, represented by the trust certificates of the Real
W es tm in s ter, th en ce co n n e c tin g w ith V a n c o u v e r . T h e line w ill pass
th rou g h K a m lo o p s , en ro u te , fo llo w in g the so u th b an k o f th e F raser.
A
Estate Trust Co., would be paid on and after said date at
c a r ferry w ill c o n n e c t V a n co u v e r Island w ith the m ain la n d, an d th e C. N . It.
the offices of said company. “ Philadelphia Ledger” said;
w ill take o v e r th e ch arter o f th e V icto ria & B a rcla y S o u n d R a ilw a y , w h ich
w as p r o je cte d fro m V a n c o u v e r t o the S o u n d , the la tte r b e in g th e p r o ­
posed islan d term in u s o f the C. N . I t .”

Enlargement of Powers.— New Lines.— Notice is given that
application will be made to the Parliament of Canada at its
next session ( 1 ) “ varying the limit to the amount of secur­
ities which the company may issue in respect of its land
grant lands; (2 ) authorizing amalgamation with the company
of the Edmonton & Slave Lake R y.; (3) extending the time
for building some 15 lines, including those from Prince




F o r the nine m o n th s e n d in g S e p t. 30 the n e t surplus earn in gs o f the s u b ­
sid ia ry co m p a n ie s , a fte r all ch arges and b o n d in te re st, a m o u n te d to $ 83 ,530 .
L a st y e a r In the sam e p e rio d there w as a d e fic it o f $ 1 5 0 ,0 0 0 . T h e d eficit
o f $10 5,30 0 fo r the first fo u r m on th s o f th e c u r r e n t y e a r w as m ore than
olTsct b y the surplus o f $18 8,90 0 In th e n e x t fiv e m o n th s .— V . 8 9 , p . 1069,
721.

Louisville & Nashville R R .— Called Bonds.— In our
advertising columns last week will be found the numbers of
$75,000 Evansville Henderson & Nashville Division bonds
which have been called for payment at the company’s office

No. 71 Broadway at 110 and interest on Dec. 1.— Y . 89,
p. 919, 926.
Menominee & Marinette Light & Traction Co.— New Stock.
— This Wisconsin corporation filed on Oct. 20 a certificate of
increase of capital stock from $560,000 to $1,000,000 (par
$100). Compare V. 87, p. 226.
Metropolitan Street R y., New York.— Earnings of System.
— For quarter ending June 30 1909:
Gross
Total Net ------------ Deductions------------ Balance,
Iiarnings.
Income.
Taxes.
Interest. Rentals. Surplus.
Metropolitan St. R y . $3.246,494 S I,'128,207 8341,514 S127.500 S462.554 $496,639
C. P. N. & E. R l v . . .
149,624
42,393
3,837
2,966
............
35,591
Second Avenue R U . .
218,496
14,174
4,677
16,325
1,620 det.8,448
28th & 29th S treet..
6,047 d e t.1,799
179
150
362 dcf.2.490
Total 1909..............$3,620,661 §1,482,975 S350.207 §146,941 §464.536 §521,292
...........
......... ......................................
Total 1908......... ..§3,708,741 *8580,839
In 1909 " o t h e r I n c o m e ,” In clu d ed w ith n e t earnings to m ake “ to t a l”
n et In com e, a m o u n ts to $ 1 2 3 ,1 3 4 , v iz .: M e tro p o lita n S t. R y ., $ 11 2,28 4;
Cen tral P a rk N . & E . R iv e r H R ., $ 3 ,6 7 3 ; S e c o n d A v e . R R ., $7,108; 28th
& 29th S ts . C rosstow n R R . , $68.
T h e earnings In 1908 In clu d e d th e F u lto n S t. R R ., n o t o p e r a te d In 1909.
" A y e a r a g o a ll th e roads w ere o p e r a te d b y the re ce ive rs o f th e N . Y .
C ity R y . C o ., w h o w ere a t th a t tim e m ak in g "e x t r a o r d in a r y e x p e n d itu re s ”
t o r e h a b ilita te th e p r o p e r t y . A s these e x p e n d itu re s w ere Inclu ded In o p ­
era tin g e x p e n s e s , th e r esu lta n t In co m e w as a b n o rm a lly sm all, y ie ld in g an
a p p a r e n tly large Increase f o r th e cu rre n t p e r io d .” — V . 89, p . 411.

Mexican International RR.— Report.— For the year ending
June 30:
F is c a l
Tot re d s .
Y ear— (M e x . c a r .)
190 8-0 9 .$ 6 ,9 5 3 ,2 8 4
1 9 0 7 -0 8 . 8 ,2 8 1 ,5 6 6
— V . 8 7 , p . 1154.

N et rev.
N et rev.
Other
In t. on
B a lan ce.
(A le x , cu r.) ( U .S .c u r .) in com e, bonds, A c . , su rp lu s.
$ 2 ,8 2 2 ,5 3 9 $ 1 ,4 1 1 ,2 6 9
$706
$74 5,36 0
$66 6,61 5
2 ,6 3 1 ,5 8 8
1 ,315,794 3,3 2 3
754 ,5 7 0
564 ,547

Mobile & Ohio RR.— Report.— For year ending June 30:
F is c a l
Y ea r—

O perating N et (after
R even u e.
T a x es .)

O ther Interest D iv ’tls.
In co m e. R en ts, <fee. P a id .

B a la n ce,
S u rp lu s.

1 9 0 8 -0 9 ............. .9 ,7 2 7 ,7 2 7 2 ,8 6 5 ,9 7 6 202 ,6 0 8 2 ,6 3 1 ,1 4 6 * 3 04 ,030 136?408
1 9 0 7 -0 8 .............9 ,6 6 3 ,7 9 1 2,5 4 1 ,3 2 2 174,450 2 ,2 4 9 ,8 5 2 *240 ,824 225 ,096
* In 1908-09 5 % : In 1907-08, 4 % .
F r o m th e ba la n ce as a b o v e In 1908-09 w as d e d u cte d $19 ,446 fo r a d d itio n s
a n d b e tte rm e n ts , a gain st $ 1 5 0,69 6 in 1907-08, le a v in g $116,962 In 1908-09,
a g a in s t $74 ,400 .-— V . 87, p . 1158.

New York Central Lines.— Orders for Equipment.— The
“ Railroad Gazette” announces that for the various roads of
the system there have been ordered 325 locomotives, 197
passenger cars and 17,850 freight cars.— V. 86, p. 1344.
New York New Haven & Hartford R R .— New Stock.— The
shareholders on Wednesday authorized $50,000,000 new
stock, all to be offered at once at 125 to the holders of stock
and convertible debentures. The increase from $40,000,000
to $50,000,000 in the amount of the additional stock was ex­
plained by President Mellen as due to the fact that $21,­
878,100 stock held in the treasury of the New England N avi­
gation Co. carries the right to subscribe for new shares. This
is the block of stock which on June 30 1909 was in the treasury
of the N. Y . N. II. & H. R R . Co., being additional to the
$100,000,000 shown as outstanding. When a stockholder
objected to the amount of the proposed increase, Mr. Mellen
replied that its 8% dividends are better secured to-day than
ever. Compare V. 89, p. 779, 838, 847, 919.
Right to Subscribe.— A circular dated Oct. 28 offers to
holders of stock and convertible debentures of record N ov. 8
the right to subscribe on the company's warrants at $125 a
share (par $100) on or before Dec. 20 for new stock to an
amount proportionate to their respective holdings as follows:
Of stock, 25%; of 3j/j% convertible debentures, 16 2-3%;
of 6% convertible debentures, 25%;
Holders of unregis­
tered convertible debentures, in order to subscribe, must
have their debentures stamped on or before Dec. 6 with a
statement to the effect that the subscription warrant has
been received without affecting the contract contained in
the debenture. Such stamping will be done at—
O ffices o f T rea su rer o f c o m p a n y , N ew H a v e n , C o n n ., o r T rea su rer’s
A g e n t, G rand C en tral S ta tio n , N ew Y o r k C ity; anti S ou th S ta tio n , H oston;
F a rm ers’ L oa n & T ru st C o ., N ew Y o rk C ity; O ld C o lo n y T ru st C o ., B oston;
R h o d e Island H osp ita l T ru st C o ., P r o v id e n c e ; H a r tfo r d T ru st C o ., H art­
fo rd ; U n ion T ru s t C o ., S p rin g fie ld , M ass.; S afe D e p o s it & T ru st C o ., B a l­
tim o r e , M d.; J. S. M organ & C o ., L o n d o n , E n g.

Subscriptions are payable at any one of the aforesaid
places in four equal installments each of $31 25 per share,
viz.: at time of subscription, Dec. 20 1909, June 20 1910,
Dec. 20 1910, June 20 1911. Part-paid shares will receive
after Dec. 20 1909 thesamerateof dividend on the proportion
paid for as is paid by the company on its full-paid shares.—
' New Director.— John L . Billard has been elected to the
board to succeed the late F. W . Cheney. Compare V. 89,
p. 994.
Northwestern Elevated R R .— For year ending June 30:
F is c a l
Total
N et
T a x es
B ond, A c .,
B a t.,
Y ear.
ea rn in gs.
earnings.
paid .
interest.
su rplu s.
1 9 0 8 -0 9 ...................$ 2 ,5 4 0 ,8 8 3
$ 1 ,5 4 5 ,0 0 4
$26 1,84 6 $ 9 2 7,44 2
$35 5,77 6
1 9 0 7 -0 8 ----------------- 2 ,4 6 3 ,1 8 7
1,498,071
226,381
920 ,8 0 2
350 ,8 8 7
A n Initial d iv id e n d o f 1% o n the p re fe rre d s t o c k , ca llin g f o r $50 ,0 0 0 ,
w as paid on O ct. 18.— V . 89, p . 287.

Norfolk & Southern Ry.— Sale Dec. 7.— The foreclosure
sale is set for Dec. 7 at Norfolk.— V. 89, p. 994.
Ohio Traction Co., Cincinnati.— First Dividend on Common.
— The directors have declared an initial dividend of 1% on
the $7,500,000 common stock, payable, together with the
regular quarterly dividend of 1 J4 % , on the $8,500,000 pre­
ferred stock N ov. 1 to holders of record Oct. 25.— V. 81,
p. 669.
Old Colony RR.— New Stock.— The Massachusetts Rail­
road Commission has approved the plan to issue 9,850 addi­
tional shares of stock at $195 per share to pay $1,912,000
Boston Clinton & Fitchburg bonds due Jan. 1 1910.— V. 89,
p. 994.
;
i




Pensacola (Fla.) Electric Co.— Dividends Resumed.— This
company, which on account of a strike by its employees
deferred the dividends due in June and Dec. 1908 and June
1909 on its $300,000 6 % cumulative preferred stock, has
resumed the semi-annual dividend of 3% , payable Dec. 1,
and has also declared a dividend of 3% per share on account
of accumulations. For the year ending Sept. 30 1909 the
surplus over all charges, it is stated, was $50,802, or about
17% on the preferred. Compare V. 86, p. 1345.
Rapid Transit in New York City.— Board of Estimate
Approves Contracts for Fourth Avenue, Brooklyn, Subway to
43d St.— City Debt Limit Decision.— See “ New York C ity” '
in “ State and City” department in this week's and last week’s
“ Chronicle.” — V. 88, p. 1621.
Rutland RR.— Directors Re-elected.— A t the annual meet­
ing on Oct. 19 the directors were re-elected. No action was
taken on the request of T. C. Delavan that steps be taken
to pay or adjust the accumulation of unpaid dividends
on the preferred stock.— V. 89, p. 994.
St. Joseph & Grand Island Ry.— New Director.— R. A .
Brown, General Counsel, has been elected a director, suc­
ceeding the late E. II. Harriman.
Report.— For year ending June 30:
F is c a l
G ross
N et.
Year—
E a rn in g s.
E a rn in g s.
$438,001
1 9 0 8 -0 9 ....................... $ 1 ,5 7 0 ,3 8 0
190 7-0 8............... ......... 1,6 0 9 ,6 1 7 670 ,5 2 0
— V . 88, p . 102.

Other
In com e.
$31 ,099
59,274

Charges
& T a x es.
$32 1,97 0
3 9 3 ,3 3 0

Balance,.
S u rp lu s.
$ 1 4 7,12 4
336 ,404

San Pedro Los Angeles & Salt Lake RR.— Refunding
Mortgage Proposed.— The shareholders will meet Dec. 21
( 1 ) to authorize the directors to make provision for the
retirement of the first mortgage bonds, $50,000,000 author­
ized; $40,000,000 outstanding) and to secure the satisfaction
of the first mortgage dated July 1 1903 and (2) to authorize
a $60,000,000 bond issue to bear date of July 1 1909, to be
secured by a mortgage and deed of trust dated July 1 1909
upon the property and franchises now owned or hereafter
acquired.
T h e $ 4 0 ,000 ,00 0 e x is tin g b o n d s , w ith the e x c e p tio n p o s s ib ly o f a sm all
a m o u n t, are o w n e d b y S e n a to r C lark an d his frie n d s , an d b y th e U nion
P a cific R R . C o ., an d e v e n if no rig h t to call e x ists (In fo rm a tio n as to the
call fe a tu re , if a n y , Is u n a v a ila b le ), It will n o d o u b t b o an e a s y m a tte r to
e fie ct th e r e fu n d in g o f the b u lk o f th e o ld b o n d s in to th e new issu e.—
V . 8 8 . p . 565.

Southern Pacific Co.— New President and Vice-President.—
R. S. Lovett, President of the Union Pacific ItR ., has been
elected President, succeeding the late E. II. Harriman, and
William Mahl, Comptroller, was elected Vice-President.—
Y . 89, p. 722, 226.
Third Avenue RR., New York.— Earnings o f System.— For
quarter ending June 30:
— Gross Earnings— — Total Net. b------------Deductions 1909—
1909.
1908.
1909.
1908.
Taxes. Interest, Other,

s

a T h lr d A v e -.
752,947
D.D.E.B.&B.
139.969
42dSt.MAS N. 336,001
South. Boul.
22,948
Union R y __ 328,500
97,747
W estches.El.

s

910.759
132,622
263,085
18,025
421,056
107,843

s

s

s

346,826 322,007 24,880
49,755 29,738 7,268
140,777 64,827 18,528
6,050
2,187 1,377
177,927 88,850 19,267
dt.0,218
0,954 3,509

s

s

s

Balance.

80,488 26,006 215,446
11,875 20,093 10,519
19,250
207 102,792
4,350
323
25,180
133,480
6,250
df.16037

T o ta l_____ 1,878,112 1,859,390 715,117 514,503 74,895 147.393 46,306 446,523
a In clu d e s K ln g sb rld g e R y . b In 1909 " o t h e r I n c o m e ," In clu ded w ith
n e t earnings to m ak e “ to ta l net In c o m e .” a m o u n te d to $ 6 9 ,2 4 3 , v iz .; T h ird
A v e . R R ., $43,496; D ry D o ck E ast B r o a d w a y & B a tte r y R R ., $22 ,063 ;
42il S t. M a n h a tta n v lllc & S t. N ich o la s A v e . R R ., $ 3,547; W e s tch e s te r
E lectrtc R R ., $ 13 7.— V . 8 9 , p . 848 , 779.

Toledo & Indiana (Electric) Ry.— Sale Nov. 27.— The
property will be offered at public sale by Reociver C. F. M.
Niles in Toledo on Nov. 27. The property lias been appraised
at $909,384.— V. 88, p. 626.
Toledo St. Louis & Western RR.— Report.— For year
ending June 30:
F isca l
G ross
N et (after
Ollier
F ix e d
P r e f. D iv . B a lan ce,
Year.
earn in gs.
ta x e s ).
in com e.
charges.
(4 % ).
su rplu s.
19 0 8 -0 9 ___ $3 428.644 $ 1 ,2 0 2 ,2 1 2 $88 3,61 4 $ 1 ,1 4 7 ,5 3 2 $39 8,10 4 $540,191
190 7-0 8----- 3,8 2 2 ,8 3 4 1,1 1 0 ,4 0 6 4 1 3 ,1 7 9
1,105,800
308 ,104
19,681
O th er Incom e Includes in 1908-09 $83 6,00 0 r c c e v c d as d iv id e n d s o n Chi­
ca g o & A lto n p re f. an d c o m . s t o c k , a gain st $40 1 ,4 0 0 In 1907-08. F ix e d
ch arges in 1908-09 Inclu de $ 3 6 0,14 0 paid fo r Interest o n Series A and B
b o n d s secu red b y C h ica go & A lt o n s to c k as c o lla te ra l, a gain st $32 8,12 8 In
1 90 7-0 8.— V . 87, p . 1239.

Tonopah &
June 30:

Goldfield RR.— Report.—'For year ending

F isca l
O perating
Y ear.
revenue.
10 0 8 -0 9 ............... $91 0,01 9
190 7-0 8------------ 1,517,577
— V . 8 9 , p . 995 .

N et (after
ta x e s ) .
$18 2 ,5 8 5
378 ,348

Other
in com e.
$3,1 6 5
1,946

Interest and
charges.
$159,221
181,536

Balance',
su rp lu s.
$26 ,529
198 ,758
’

Washington Baltimore & Annapolis Electric RR.— Re­
ceivership.— At Baltimore on Oct. 28 in proceedings brought
by Elmer Craig of Toledo , a stockholder, unopposed by the
company, Judge Morris in the U. S. Court appointed Presi­
dent George T . Bishop of Cleveland and George Weems
Williams of Baltimore as receivers of the property. The
coupons due May 1 1909 on the first and second mortgage
bonds remain unpaid.— V. 89, p. 530, 226.
Western Maryland RR.— Sale Nov. 19.— The foreclosure
sale under the “ general lien and convertible” mortgage is
advertised for N ov. 19 at Hillen Station, Baltimore. Upset
price, $6,500,000.
T h e sale Is m ade s u b je c t to the first m o rtg a g e b o n d s o f 1902 ($ 5 0 ,0 0 0 ,0 0 0
a u th o riz e d , $ 42 ,518 ,00 0 o u t s t a n d in g ), to fo u r d iv isio n a l b o n d Issues a g g re ­
g a tin g $ 6 ,2 0 0 ,0 0 0 a n d to p u rch ase m o n e y m o rtg a g e s an d gro u n d rents
a m o u n tin g to $84 ,1 5 8 .
T h e r e c e iv e r ’s o b lig a tio n s an d ce rtifica te s m e n tio n e d In th e fo re clo su re
d e cre e s and n ow o u ts ta n d in g are as fo llo w s;
E q u ip m e n t certificates,
Series A , d a te d Ja n . 1 1909, $51 0 ,0 0 0 ; e q u ip m e n t ce rtifica te s, d a te d M ch . 1
1909, $2 ,0 0 0 ,0 0 0 ; first m tg e . Interest ce rtifica te s, d a te d O c t . 1 1909, $ 6 0 0 ,­
000; G e o rg e ’s C reek & C u m b erlan d ce rtifica te s, d a te d A p ril 1 1909,
$ 1 ,2 5 0 ,0 0 0 ; r e c e iv e r ’s n o te s, d a te d A p ril 1 1909, $ 32 3,85 0; to ta l, $ 4 ,6 8 3 ,8 5 0 .— V . 8 9 , p . 1069. 995.

Western Pacific R y.— New Second Vice-President.— C. M.
L evy has been elected Second Vice-President and General
Manager, having resigned his position as Third Vice-1 resi­
dent of the Northern Pacific lty .— V. 89, p. 9.)o.
Wisconsin Central Ry.— Bonds Listed,
in e New York
Stock Exchange has listed the $2,500,000 first and refunding
mortgage 4% bonds, due 1959, recently sold. Compare
V. 89, p. 1069, 995._________________
INDUSTRIAL, GAS AND MISCELLANEOUS.

Consolidated Gas Co. of New York.— Earnings, cfee.— The
report of the Public Service Commission, First District,
issued this week, shows earnings of the various gas companies
included in the system for the year ended Dec. 31 1908
as follows:
Results fo r Year ending Dec. 31 1908.
Gross.
N et.
Oth. Inc. Interest. Dividends.

$

Consol. Gas C o ..12,000.690
New Am . Gas C o. 2,499,959
Astoria L .,H .* P . 3,182,515
Cent. Un. Gas Co. 1,510,429
N Y . M ut.G asCo. 1.475,629
Nor. Un. Gas C o .
553,915
Stand. Gas. C o . . 1,634,469

s

$

s

s

Balance.

s

685,235 5,254,169 1,894,727 3,249,363 sur.795,314
409,458
147,567 1,046,756
......... .. def.489,731
804,008
1,438
607,262
............sur.198.184
227,724
11,242
201,385
............sur. 37,581
164,819
47,060
---------206,196 sur. 5,683
69,518
1,610
88.48T
----------def. 17,359
246,481
39,681
59,750 257,742 def. 31,330

American Brass Co.— Extra Dividend, ih c company has
declared a regular quarterly dividend of 1 ^ % and an ex­
22 857,606 2.607,243 5,502,767 3,898,307 3,713,301 sur.498.342
tra dividend of 1%, payable N ov. 1 to holders of record Oct. — Total
V. 89, p. 289, 106.
20. This makes a total of 6 % in dividends declared payable
Consolidated Lithograph Co., New York.— Completion of
in 1909, contrasting with 5 M % in 1908. Outstanding stock
is $15,000,000. Compare V. 88, p. 746; V. 84, p. 10o4, olO. Reorganization and Merger.— See United States Lithograph­
ing Co. below.— V. 89, p. 413.
American Glue Co.— Extra Dividends Resum ed— The di­
Consumers’ Gas Co. of Toronto.— Report.— For year end­
rectors have declared the regular semi-annual dividend of
2 % on the $800,000 common stock, payable N ov. 1 to hold­ ing Sept. 30:
Total
N et
Other
I n t ., R eD ie s .
B a lan ce
ers of record Oct. 27. Extra dividends of 1% were paid Y ear— In co m e.
In co m e. In co m e, n e w a ls .A c . ( 1 0 % ) .
S u r. o r D e i.
$ 6 0 4,08 4 $ 3 ,290
$320,111 $34 2,16 7 clef.$54,904
May 1 and Nov. 1 1907 and May 1 1908, but only the regu­ 1 9 0 8 -0 9 .$ 1 ,7 3 7 ,7 6 5
1 9 0 7 -0 8 . 1,5 8 7 ,3 6 3
5 56 ,822
3,811
2 26 ,216 3 1 3 ,0 5 0 s u r .$ 2 1 ,367
lar 2% in Nov. 1908 and May 1909.— V. 87, p. 1161; V. 88, —
V . 8 9 , p . 922.
p. 160; V. 89, p. 221.
Copper Range Consolidated Co.— New Vice-Presidents.—
American Locomotive Co.— Directors.— James McNaugh- F. W . Denton and R. T . McKeever have been elected Vice­
ton, Vice-President, and Dumont Clarke were recently Presidents. Mr. Denton was also elected a director, suc­
elected to the board, succeeding Joseph Bryan and R. J. ceeding the late Charles II. Paine.— V. 88 , p. 1G17.
Gross.— V. 89, p. 595, 591.
Cuyahoga Telephone Co., Cleveland.— Possible Consolida­
American Typefounders Co.— New Vice-President and Di­
rector.— F. B. Berry has been elected a director to fill a va­ tion.— A deal is understood to be pending for the sale or
cancy and J. W . Phinney was made an additional Vice-1 resi- merger of the following independent companies, but whether
as an independent proposition or in the interest of the
Reporl.— See “ Annual Reports” in last week’s “ Chronicle,” American Telephone & Telegraph Co. does not appear
certain:
page 1068— V. 89, p. 1068.
Atlas Portland Cement Co., New York.— New Stock.— The
company has filed in Pennsylvania a certificate of increase of
capital stock from $10,000,000 to $10,250,000.— V. 89, p.227.
British Columbia Packers Association.— Dividend for 2 } /2
Years.— A dividend of 1 0 K % has been declared on the pre­
ferred shares, payable Nov. 20 to holders of record Nov. 10,
being for the period May 20 1906 to Nov. 20 1908. -V. 89,
p. 468, 350.
Bronx Gas & Electric Co., N. Y .— Bonds.— Application
was recently made to the Public Service Commission for
authority to create a new issue of $1,500,000 first mortgage
bonds, of which the present issue was to be $740,000, these
to be taken by Charles D. Barney & Co., who were to under­
take to retire the present $500,000 first mortgage bonds. On
Oct. 27 the Commission limited the immediate issue to $624,­
636 as follows:
T o refu n d the o u ts ta n d in g b o n d s — p ar v a lu e 550 0 .000 — to p a y p rem iu m s
th ereon . $50; to d e fra y the pro p e r e xp en ses o f re fu n d in g , $ 1.>,000 [Instead
o f $30 ,000 a s k e d .— 13d.1; t o p a y three real estate m o rtg a g e s, 530 ,100 ,
v ariou s a ccou n ts p a y a b le , $18,511 60; assessm ents, $1,02.), bills p a y a b le ,
$ 1 0 , 000 : a tota l o f $ 62 4,63 6.
A n o te o f $35 ,000 an d taxes a m o u n tin g to
$23,86!) can be h a n d led b y the c o m p a n y In o te h r w a y s .— V . 8 0 , p . 723.

Butte Coalition Mining Co.— Dividends Resumed.— Divi­
dends, suspended since the distribution of December 1907,
have been resumed with the declaration of a quarterly divi­
dend of 25 cents per share (1 2-3%), payable Dec. 1 to
holders of record Nov. 25.
D ivid en d R ecord— P er C ent and P e r Share (P a r $ 1 5 ).
1906.
1907.
1908.
D ec. 1909.
11% ($1 65)
N one.
1 2 -3 % ($0.25)
T h e s to c k is $ 1 5 ,0 0 0 ,0 0 0 in $15 sh ares, som e $ 3 ,0 0 0 ,0 0 0 o f w h ich . It Is
b e lie v e d , Is ow n ed lty the B o s to n & M on tan a C o n so lid a te d C o p p e r & S ilver
Mining C o ., a su b sid ia ry o f th e A m a lg a m a te d C o p p e r C o . T h e o u t p u t at
presen t Is said t o be a b o u t 3 .5 0 0 ,0 0 0 lb s. per m o n th .— V . 8 8 , p . 1495.

5 1 - 3 % (50.80)

Cambridge (Mass.) Electric Light Co.— Special Dividend.
— With the regular quarterly dividend of 2 y2% on the
$800 000 stock (no bonds) the company has declared a
special dividend of $ 10 a share, payable with the quarterly
distribution Nov. 1 to shareholders of record Oct. 2 0 . On
June 30 1909 the reserves and surplus aggregated $397,386.
— V. 88, p. 566.
Canada Car Co.— Consolidation.— Arrangements, it is un­
derstood, have been completed for the merger or consoli­
dation under this title of the Rhodes-Curry Co. (\ . 89, p.353),
the Canada Car Co. (V . 84, p. 452) and the Dominion Car &
Foundry Co. The authorized capitalization is reported as
$5,000,000 common stock, $7,500,000 7% cumulative pre­
ferred stock and $3,500,000 6% bonds; present issues to be
$3,500,000 common and $5,000,000 prof, stock and all of
the $3,500,000 bonds. Combined earnings for 1908-09
stated as $962,456 and for 1907-08 as $1,091,037. N. Curry
of the Rhodes-Curry Co. will be President.

JIO

w

tv

or— ' —

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

mon stock, $300,000 7% cumulative stock of this recent
consolidation. The authorized capitalization is pref. stock,
$2,000,000; common stock, $2,000,000; 1 st M. 6s, $1,000,000;
now to be issued, $ 1 ,200,000 pref., $1 ,200,000 common
and $300,000 bonds.
Columbus & Hocking Coal & Iron Co.— Officers.— Henry
S. Haskins, Vice-President, has been elected President to
succeed N. L. C. Kaehclmacher, who retired. A. L . Thur­
man, Secretary and Treasurer, who succeeds Mr. Kachelmacher on the Executive Committee, was chosen Vice-Presi­
dent. F. J. Shaffer, Auditor, succeeds Mr. Thurman as
Secretary and Treasurer.— V. 89, p. 45.




C u yah oga T e le p h o n e C o. o f C levelan d ; th e U n ite d S tates T e le p h o n e C o.
(th e In d e p e n d e n ts’ lo n g -d is ta n c e lin e ): th e T o le d o H o m e T elephon e C o.;
th e In d ia n a p olis T e le p h o n e C o .; th e N ew L o n g D is ta n ce l e le p h o n e o f
In d ia n a p o lis. T h e O hio H o m e T e le p h o n e C o. w as in c o rp o ra te d r e c e n tly
In O h io w ith $50 0,00 0 s to c k a n d m a y perh ap s b e used as th e m ergin g
c o m p a n y .— V . 8 9 , p . 222.

(E. I.) Du Pont de Nemours Powder Co.— Earnings.— For
the nine months ending Sept. 30:
N in e
G ross
M os.
receipts.
1 9 0 8 -0 9 .$ 22 ,697 ,53 3
1907-08
2 0 ,2 0 0 ,4 6 0

N et (after
N o n -o p ’g
B on d
P f.d iv .
B a la n ce,
d ep rcc.,& c.)d ed u c'n s. interest. (S U / o ).
su rplu s.
$ 4 ,3 5 5 ,0 2 4 * $ 25 4,15 9 $ 6 5 0,80 7 $.)3 1,o08 $ 2 ,9 1 2 ,4 9 0
3 ,3 0 6 ,0 7 4
54,053 541 ,727
,>70,931
2 ,1 3 4 ,3 6 3

• R ep resen ts d is co u n t o n sale o f real e s ta te , secu rities a n d o th e r tran s­
a c tio n s n o t due t o cu rren t o p e ra tio n s.
T h e ba la n ce as a b o v e fo r th e nine m o n th s o f 1909 Is e q u a l t o 1 0 .3 8 %
(1 3 .8 4 % yea rly) on the $ 2 8 ,0 4 7 ,0 0 0 c o m m o n s to c k o u ts ta n d in g , a g a in s t
8 0 4 % (10 7 2 % ye a rly ) o n the 5 2 6 ,5 2 8 ,6 0 0 o u ts ta n d in g In 1908. N et
earnings fo r th e nine m o n th s o f 1909 arc e q u a l t o an a n n u al in c o m e on the
gross In vestm en t o f 7 .8 8 ? $ , a g ain st 6 .0 5 % In 190 8.— V . 89, p . 996, 351 .

Economy Light & Power Co., Joliet, &c., 111.— Favorable.
Decision by State Supreme Court.— The Supreme Court of
Illinois on Oct. 26 affirmed the decision of Judge Mack in
June 1908, which dismissed the action brought by the State
of Illinois to prevent the completion of the dam on the
Desplaines River at Dresden Heights and to oust the com­
pany therefrom. Compare V. 87, p. 42.
T h e S ta te desires to u tilize th e land lea sed b y th e c o m p a n y In co n n e c tio n
w ith the p ro p o s e d d e e p w a te r w a y , o r c a n a l, fo r th e c o n s t r u c t i o n s f \\4iich
$ 20 , 000,000 b o n d s w ere a u th o riz e d a t th e gen eral e le ctio n in N o v e m b e r
i 908. N o a p p ro p r ia tio n u n d e r th e a m e n d m e n t to th e S ta te C on stitu tion
a d o p te d b y th e e le cto rs has y e t b e e n m a d e , n o r has c o n s tru ctio n been
b e g u n . S ee item s in " S t a t e an d C it y " D e p a r tm e n t, V . 8 5 , p . 1289, and
V . 8 7 , p . 137 2.— V . 8 9 , p . 595.

General Motors Co., New York.— Stock Dividend.— Treas­
urer Curtis R. Hatheway, by advertisement dated Oct. 26,
announces that “ the board of directors has declared a divi­
dend of 150% upon the common stock, payable in common
stock on Nov. 15 1909 to the common stockholders of record
at the close of business N ov. 4 1909.”
New Directors.— H. G. Hamilton and J. T . Smith have
been elected directors to succeed 1*. L. Smith and Henry
Russell.— V. 89, p. 723, 596.
Gottlieb-Bauemschmidt-Straus Brewing Co — Dividend on
Incomes.— The directors have declared a semi-annual divi­
dend of M of 1% on the $3,500,000 second mortgage income
bonds, payable N ov. 1. This is the same amount as paid
last May. Nov. 1 1908 1% was paid; in May 1908 M % , and
prior to that seven semi-annual distributions of 1 J£>% each
were made.— V. 88, p. 1316.
Kings County Electric Light & Power Co., Brooklyn, N. Y .
— Convertible Bonds.— The shareholders will vote Nov. 11
on the proposition to issue $5,000,000 convertible 6 % de­
benture bonds “ to be dated on or about Jan. 1 1910 and to
be payable on of about Jan. 1 1922, and to be convertible
into the stock of the company at par at the option of the
holders thereof on and after Jan. 1 1913, and before Jan. 1
1922, such debenture bonds to be offered to the stockholders
at par in proportion to their holdings of stock.”
ih e pe­
tition to the Public Service Commission, in which the Edison
Electric Illuminating Co. joins, asking authority to issue
the new bonds, states that the proceeds are to be used:
$3 539 661 to reim bu rse b o th co m p a n ie s fo r e x p e n d itu re s fo r im p r o v e ­
m ent’s m ade o u t o f reserve an d surplus fu n d s; $41 2 ,6 9 5 fo r p r o je c t e d Im­
p ro v e m e n ts in th e b u d g e t fo r 1909 eith e r n o t y e t m ad e o r u n c o m p le t e d ;
$ 1 047 644 t o p ro v id e fu n d s fo r n ecessary im p ro v e m e n ts , b e tte r m e n ts ,
&c’ ., in clu d ed In the b u d g e t fo r th e y e a r 1 91 0.— V . 8 9 , p . 922 .

Laclede Gas Light Co., St. Louis.— Payment of Coupons.—
The Bankers’ Trust Co., having been appointed the com­
pany’s financial agent in this city* the coupons due N ov. 1
on the first mortgage 5% bonds will be paid by Bankers'

Trust Co., instead of at the office of the North American Co.,
United States Steel Corporation.— See “ Annual Reports.”
as heretofore.— V. 88, p. 1562.
Common Stock on 4% Basis.— The directors on Oct. 26 de­
Lanston Monotype Machine Co., Philadelphia.— New clared, along with the usual quarterly dividend (N o. 34) on
Stock.— The shareholders voted Oct. 28 to increase the stock the preferred stock (payable Nov. 30 to holders of record
from 85,000,000 ($4,998,600 outstanding June 30 1909) to N ov. 5), dividend No. 24, of 1 % , on common stock for the
$ 10 ,000,000, and to increase the par value of the stock from quarter ending Sept. 30 1909, payable Dec. 30 to stockholders
$20 to $100 per share.— V. 89, p. 998, 923.
of record Dec. 1 0 . This increases the annual rate for the
Lehigh Coal & Navigation Co., Philadelphia.— Extra Divi­ common shares, which three months ago was raised from 2 %
dend.— The directors on Oct. 25 declared the regular semi­ to 3% , to 4% , viz.:
V ID E N D S
1 ’ 01. ’ 0 2 . ’ 03. ’ 0 4 -’05. ’ 06. ’07.
-1909.
annual dividend of 4% and an extra dividend of 1%, both C oDmIm
o n _________ % J.
2
4 3 H N on e
1 'A 2
1)
payable Nov. 27 on stock of record Oct. 30. While the 1 % P re fe rre d ---------------% J A u g . 1901 t o N o v . 1 9 0 9 ,7 % p er a n n u2mX (1 24% q u a r.)
is described as “ extra,” friends of the management believe — V. 89, p . 291 , 353 .
United States Lithographing Co. (of N ew Jersey).— Com­
that if conditions continue to improve, the annual rate
will be made 1 0 % .— V. 88, p. 684.
pletion of Plan.— The shareholders will meet N ov. 6 to ratify
McCall Ferry Power Co.— Sale Dec. 7.— The foreclosure the purchase of the assets of the Consolidated Lithograph
sale is advertised for Dec. 7 at Lancaster, Pa.— Y . 89, p. Co. and also to increase the capital stock from $400,000
common and $800,000 preferred to $3,200,000 preferred
998, 229.
Manufacturers’ Ligh t & Heat Co., Pittsburgh.— Earn­ and $3,300,000 common stock, all in accordance with the
plan outlined under Consol. Lith. Co. in V. 89, p. 413.—
ings.— For 9 months ending Sept. 30:
V. 89, p. 230.
N in e
G ross
E xp en ses&
N et
In tcrest&
B alan ce,
M o s .—
R eceipts.
T a x es.
E a rn in g s.
R enew als.
Su rplus
United States Reduction & Refining Co.— Default by
$783,654 $ 1,557,456
1 9 0 !) __________ $3,8(5-1,290 $ 1 ,5 2 3 ,1 7 9 $2,3 4 1 ,1 1 1
Controlled Company.— The United States Smelting Co.,
1908 _________ 3 ,3 8 2 ,7 8 3
1 ,4 1 4 ,7 4 6
1,9 6 8 ,0 3 7
679 ,760
1,288 277
which is controlled through the ownership of ( 1 ) all of the
T h e general ba la n ce sh eet show s an Increase In In vestm en t a cco u n ts o f
$ 6 9 9 ,6 6 2 , a net d ecrea se In liab ilities o t $ 1 ,1 8 3 ,6 8 9 and a net decrease In
$500,000 capital stock and (2) $300,000 of the issue of $600,­
cash assets o f $32 5 ,8 9 4 .
D u rin g th e nine m o n th s $ 5 8 9,50 0 b on d s w ere
000 bonds, both the stock and bonds owned having
p aid fo r a n d c a n c e le d .— V . 8 9 , p. 724 , 290.
been pledged under the mortgage of the U. S. Reduction &
Mergenthaier Linotype Co.— New Director.— Sir Joseph
Refining Co., failed to meet the interest due Oct. 1 on its
Lawrence, Chairman of the boaid of directors of the Lino­
first mortgage bonds. The plant of the company produces
type & Machinery Co., Ltd., has been elected a director,
zinc lead pigment, and, owing to the condition of the market,
succeeding the late Andrew Devine.— V. 89, p. 1070.
it has been closed for some months past.— V. 88, p. 7 4 7 .
Meridian Water-Works Co.— Bonds Called.— All the out­
standing bonds dated N ov. 1 1899 ($350,000) have been
—"A mistake was made in the advertisement of J. S. &
called for payment on N ov. 2 1909 at par at the Farmers’
W . S. Kuhn Inc., investment bankers of Pittsburgh, Phila­
Loan & Trust Co., New York, trustee.— V. 83, p. 159.
delphia and Chicago, in our issue of last week, in which
Pacific Gas & Electric Co., San Francisco.— Dividends various issues of irrigation and other bonds were offered, the
to be Resumed — A meeting of the board of directors has been statement that only the “ unsold portion” of these issues was
called for 3 p. m. on Nov. 1 1909 for the purpose of declaring offered being omitted. W e are informed that this company
a dividend of $1 50 per share upon the $10,000,000 preferred has met with a flattering market for these bonds since it
stock for the period beginning Aug. 1 and ending Oct. 31 first offered the entire issues. All the original issues on these
1909 payable by check on N ov. 15 to stockholders of record properties have been sold. The company is still trading in
on N ov. 1. The company paid its first and only cash divi­ them at advanced prices. It was in connection therewith
dend, l } 4 % , oh its preferred stock on April 15 1906, and in that the last week’s advertisement was to be used. Atten­
July last offered in lieu of the accumulated dividends on tion is called to the fact that the prices on all the issues
each two shares of preferred stock one share of common. mentioned by J. S. & W . S. Kuhn Inc. last week have
Compare V. 89, p. 104.
increased, with the exception of the Twin Falls Oakley Land
Rogue River (Oregon) Electric Co.— Bonds Offered.— E. II. & Water Co., the most recent offering of the company, made
Rollins & Sons, Chicago, Denver, Boston and San Francisco, less than a month ago.
are offering at prices to net 5 % % to 6% for the earlier ma­
-Lybrand, Ross Bros. & Montgomery, the well-known
turities and 53^% to 5 % % for the later dates, $243,000 certified public accountants of Philadelphia, New York and
“ prior lien” mortgage 5% sinking fund gold bonds dated Pittsburgh, have recently opened a new branch office in the
1907 and due July 1 1937.
first National Bank Bldg., Chicago, under the direction of
T h ese b on d s are th e u n red ee m e d p o r tio n o f the to ta l o f $25 0,00 0 b o n d s
Walter Beans, C. P. A. Lybrand, Ross Bros. & Montgom­
Issued u n d er the $70 0 ,0 0 0 m ortg a g e as p r io r lien b o n d s, an d m a d e s u b je c t
ery’s accountancy business for American corporations, banks
to call a t 105 and In terest In n u m erica l o r d e r fo r a cash sin k in g fu n d o f
n o t less th an $7,000 p er a n n u m . S u b sid ia ry m o rtg a ge b o n d s, $314,000;
and trust companies has increased rapidly of late years, and
p r io r Hen b o n d s, $ 24 3,00 0: to ta l b o n d s issu ed , $ 55 7,00 0. C o m p a n y ow n s
the concern is now one of the largest and leading firms in the
h y d r o -e le c t r ic p r o p e r ty w ith tu rbin es an d g en erators o f 2,000 1c. w ., fu rn ish ­
in g lig h t an d p ow er In M e d fo rd , G ra n t’s Pass, G old H ill, J ack son v ille
profession.

an d C en tra l P o in t, O re .; also p o w e r a t w h olesa le to o t h e r loca l ligh ting
c o m p a n ie s a t A s h la n d , T a le n t an d P h o e n ix , and p o w e r to m ines, & c., and
fo r irrig a tion .
G ross ea rn in gs, c a le n d a r y e a r 1908, $89 ,169 ; n e t, $55 68-P
F o r 8 m on th s e n d in g A u g . 31 1909, gross, $ 56 ,881 ; n e t, $33 ,359 .

— “ The Iron & Steel Trades Journal” of London having
completed sixty years of life, has issued a Diamond Jubilee
number. This number contains many special articles
dealing with the growth and development of the metals
trades and also with the growth and development of the
United Kingdom. Pictures of Sir Henry Bessemer, Sir
William Siemens, Ccorge Stephenson and other celebrities
are given, and there is also an article on “ Sixty Years of
Financial Development.”

Standard Roller-Bearing Co.— New Director.— Isaac II.
Clothier of Philadelphia and William D. Sloane of New
York have been elected to the board.— V. 88, p. 569.
Terminal Warehouse Co., New York.— Semi-Annual Divi­
dend.—-At a regular meeting of the board of trustees, held at
the office of the company, 17 South William St., a cash divi­
dend of 3% was declared on the $1,000,000 outstanding
~ N . W . Harris & Co., bankers, at Pine Street corner
capital stock, payable out of the net earnings for the six
months ending Sept. 30 1909 to stockholders of record William, this city, are to-day advertising in this issue of
Oct. 26. Check will be mailed on N ov. 1 . This is the the “ Chronicle” $200,000 Kings County Lighting Co. first
second cash dividend, 5% having been paid in April. The refunding 5s, due 1954, which have been made tax-exempt
bond-issue plan, we are informed, has been abandoned. for the first time under the provisions of the recording tax
law. These bonds are offered to the purchaser at 102 and
Compare V. 89, p. 48.
interest, yielding 4.88%. Circular on request.
Texas Company (Oil), Houston, T e x .— Stock Increase —
— Hawes, Tewksbury & Co., New Bedford, members of
This Texas corporation filed on Oct. 25 a certificate of in­
crease of authorized capital stock from $1 2 ,000,000 to $18,­ the Boston Stock Exchange, have issued a tabular statement
000,000. The “ Houston Daily Post” quotes Treasurer showing the dividends paid for eight years past and the
capital stock and number of spindles and looms of the
Judge R. E. Brooks in effect as follows:
leading mills at New Bedford and Fall River. They will
T h e Increase was a u th o r iz e d b y th e d ire cto rs a b o u t a y e a r a g o an d the
p r o p o s e d Issuance a t th e p rese n t tim e Is t o prepare fo r th e m eetin g o f
also furnish special reports upon request.

o b lig a tio n s w hich the c o m p a n y w ill be c o m p e lle d t o redeem a fte r Jan . 1.
T h e c o m p a n y Is n ot c o n t e m p la tin g the b u ild in g o f a n y m ore p ip e lin e s ,
a n d , so far as I k n o w , it Is n o t a p r o s p e c ltv e p u rch a se r o f th e W a te rs -F ie rce
p r o p e r tie s .— V . 8 8 , p . 1442.

United Copper Co.— Income.— The statement of income for
the year ending May 31 1909, recently filed with E. S.
Mendel, agent for the New York curb brokers, shows:
“ Profits on securities sold, $57,851; general expenses, $39,­
742; New Jersey taxes, $6,250; surplus for year, $11,859.”
Apparently no dividends were received during the year from
the controlled companies.— V. 88, p. 1442.
United Dry Goods Companies.— Listed.— The New York
Stock Exchange has admitted to the regular list $10,000,000
7% cumulative preferred and $10,812,900 common stock
formerly quoted in the unlisted department, and has au­
thorized $1,187,100 additional common stock to be listed
prior to Jan. 1 1910, on notice of issuance in exchange for
outstanding stocks of the Associated Merchants’ Co., making
the total amount of common stock authorized to be listed
$12,000,000.— V. 89, p. 925, 477,




— Plympton, Gardiner & Co. in their advertisement on
another page invite attention to the opportunity offered for
profitable bond investments in growing territory, such as
now may be found in the Southwest. A list of bonds
yielding 4.30 to 6.25 per cent will be furnished investors
and institutions on request.
— N. Curtis Fletcher & Co., 24 Milk Street, Boston,
specialists in gas, electric light and w ater power securities in
New England, have issued a circular regarding prominent
Massachusetts illuminating companies other than those
located in Boston.
— O. J. Brand & Co., members of the N . Y . Stock E x­
change, 74 Broadway, announce that James Shannon has
become manager of their bond and inactive securities depart­
ment. Mr. Shannon was formerly connected with F. W .
Perry & Co.
— Fahnestock & Co. announce that Mr. Robert B. Dodson
will retire on N ov. 1 from the firm and from active business.

v

I m p a r t s axxct Qotxxmmis.
GREAT NORTHERN RAILWAY COMPANY.

T W E N T IE T H A N N U A L R E P O R T — F O R T H E

To the Stockholders:
The Directors submit the following report for the year
ended June 30 1909:
C A P IT A L STOCK.
There has been no increase in the authorized share capital
of The Great Northern Railway Company during the year,
and same remains at $2 1 0 ,000,000 00.
O f the ca p ita l au th oriz ed th e re h ad be e n Issued to Jun e 30
1908 (p a ge 5, last y e a r ’s r e p o r t ) ---------------------------------------- $ 2 U J,uo<:,/ou uu
T h ere have been Issued d u r in g the y e a r 75 shares, In co m p le tln g prev iou s tra n s a ctio n s, a m o u n tin g t o .......................... .................t ,o v v u u
T o ta l o u ts ta n d in g Ju n e 30 1 9 0 9 ------------------ ----------------------- $ 2 0 9 ,9 7 0 ,2 5 0 00

The stock outstanding June 30 1909 was represented by:
S to c k C e rtifica te s _________________________________ - ..............
$20 9 ,9 3 9 ,0 0 0 00
F u ll-p a id s u b s c r ip tio n re ce ip ts t o $00 ,0 0 0 ,0 0 0 issue n o t at
th a t d a te su rren d ered fo r e x ch a n g e Into s to c k certificates
“ o ’ i t a nn
S cr ip , fu ll p a id ............... ................ .........................................................
3 ’ 130 00
T t ,
............... ............................ .$ 2 0 9 ,9 7 0 ,2 5 0 00

There were in the Company’s treasury June 30 1909
2973^2 shares of Great Northern Stock not used in acquiring
238 shares of Manitoba Stock.
BO ND ED D EBT.

F IS C A L Y E A R E N D E D JU N E 30 1909.

or re tirin g th e se b o n d s sim ila r to th a t fo r th e S e c o n d M o rt­
g a g e B o n d s a n d a b o v e s ta te d .
GENERAL.
E x p e n d itu r e s w ere m a d e d u rin g th e y e a r in c o m p le tin g
or ca rr y in g on th e c o n str u c tio n of n ew lines a n d fo r p re lim ­
in a ry e x p e n se s o f p r o je c te d lin e s, as fo llo w s:
Armington to Laurel, Mont__________________________________9?
720,050
Columbia River to Mansfield, Wash_________________________
Nashwauk to La Prairie, Minn_______________________________
632,560 56
Greenbush to Warroad, Minn_________________________________
423,760 62
Connection with Spokane Portland & Seattle Ry. at Spo­
kane. Wash__________________________ ____________________ 267,364 30
139,87109
Berthold to Crosby, N . D. (Completion)________________________
Fidelity Lumber Co. Spur, Albany Falls, Idaho_________________
52,44080
International Boundary Line near Molson, via Orovllle, Wash.,
to International Boundary near Chopaka______ ____________
34,114 14
Bray Mine Spur, Mesati Range, Minn________________________
18,971 57
Orovllle to Brewster, Wash. (Commenced)__________________
14,650 58
Aneta to Devil’s Lake, N. D. (Completion)_____ 1____________
12,692 09
Stanley' to Powers Lake, N. D ___________________________________
8,686 16
Balnvllle to Plentywood, Mont________________
8,308 11
Monroe Mine Spur, McsabI Range, Minn....... ....................
7,179 40
Myncaster Spur, Wash----------------------------------------------------------------2,49115
Completion of Sundry Lines---------------4,916 10
Preliminary expenses account of Sundry Lines the con­
struction of which has not yet been commenced.....................
106,072 12
Total_________________________________________________________$5,064,148 97

A n d w h ich a m o u n t h a s b e e n c h arged to “ C o st o f R o a d .”
D u rin g th e y e a r th e D u lu th T e r m in a l R y . C o . issu ed
There has been no change during the year in the total
amount of bonds issued and outstanding, the payment of $ 3 5 0 ,0 0 0 0 0 a d d itio n a l c a p ita l s to c k w h ich w a s s u b sc rib e d
which has been assumed by The Great Northern Railway a n d p aid fo r a t p a r b y th e G re a t N o r th e rn C o m p a n y . T h e
Company, but same remains, as shown by the balance sheet, p ro ceed s fr o m th is s to c k issu e w ere u sed to ta k e u p $ 1 7 5 ,­
0 0 0 0 0 of D u lu th T e r m in a l R y . C o . F irs t M o rtg a g e 6 per c en t
_______ _______ __________________________________$ 1 2 5 ,8 9 7 ,9 0 9 09
a re 1150
O f this a m o u n t there w ere o u ts ta n d in g in th o han ds o f the
B o n d s w h ich m a tu r e d M a y 1 1 9 0 9 a n d to re p a y th e G re a t
p u b lic , as p er ta b le on p a g e 1151.............................................. ..... 9J,.>iH,J.m .ij
N o r th e rn $ 1 7 4 ,5 6 7 81 w h ich th e la tte r h a d a d v a n c e d for
A n d h eld as free assets In th e C o m p a n y ’s tre a s u ry -----------$ 2 6 ,3 7 8 ,969 70
c o n str u c tio n p u r p o s e s .
A s th e b o n d s in q u e s tio n w ere
o w n e d b y th e G re a t N o r th e r n , th e resu lt o f th is tra n s a c tio n
of which the following is a list:
h a s b een to in crease its in v e s tm e n t in th e D u lu th T e r m in a l
St P . M . & M . R y . C o . P a cific E x te n sio n 4 p er ce n t
R y . C o. b y $43 2 19.
,
.
,
' B on d s ( £ 2 ,0 0 0 ,0 0 0 ) ___________________________________
$ 9 ,6 9 6 ,9 6 9 70
Im p r o v e m e n t B o n d s _______ _______________ _______ _____
1 1 ,9 1 0 ,0 0 0 00
T h e Io w a & G re a t N o r th e rn R y . C o . rep aid d u rin g th e
E astern R y . C o. o f M in n esota, N orth ern D iv is io n F irst
y
e
a
r
$
7
1
,5
9
8
2
2
of
th
e
a
m
o
u
n
t
th
a
t
h
a
d
b
e
e
n
a
d
v
a
n
c
e
d
to
it
M ortgage 4 p er cen t B o n d s _____________ ______ __________
2,0 0 0 00
W ill m ar & S io u x F alls R y . C o. First M ortgage 5 p er cen t
in p re v io u s y e a rs b y th e G re a t N o r th e r n .
B on d s ______________________ ______ _______________________
2 1 ,0 0 0 0 0
A d d itio n a l ca p ita l s to c k to th e a m o u n t o f $ 2 ,0 5 5 ,0 0 0 0 0
S p ok a n e Falls & N orth e rn R y . C o. First M ortg age 6 per
w as issu ed d u rin g th e y e a r b y th e B r a n d o n S a s k a tc h e w a n &
cen t ISonds______________________________ ____ ___________ _
2,.>83,000 00
D u lu th W a te r to w n & P a cific R y . C o. First M ortg age 6
H u d s o n ’s B a y R y . C o ., m a k in g th e to ta l ca p ita l s to c k is s u e d
p er cen t B on d s (entire Issu e)-----------------------------------------1 ,3 7 5 ,0 0 0 00
b y th a t c o m p a n y a n d n o w o u ts ta n d in g $ 2 ,1 0 0 ,0 0 0 0 0 , a ll o f
P a rk R a p id s & L eech L a k e R y . C o. F irst M ortg age 5 p er
oOO.OOO 00
cen t B on d s (entire Issu e)---------------------------------- ---------------w hich is o w n e d b y th e G re a t N o r th e rn a n d w as p a id fo r a t
C o lu m b ia & R ed M ountain R y . C o . First M ortg age 6 per
par.
T h e p ro ceed s of th e a d d itio n a l issu e w ere u sed in re­
cen t B on d s (en tire Issue)........................... ......... ........................
2 J 1 JH)0 o o
p a y in g th e G re a t N o r th e rn th e a m o u n t it h a d a d v a n c e d fo r
T o t a l .................................... ........................................................... $2 6 ,3 7 8 ,9 6 9 70
c o n stru c tio n a n d for p a y in g th e co st o f a d d itio n a l c o n s tr u c ­
A m o u n t h eld In trea su ry Ju n e 30 1908 as per list on page 10
tio n , a d d itio n s a n d b e tte r m e n t w o rk d on e d u rin g th e y e a r .
2 8 ,4 4 1 ,9 0 9 <o
o f last y e a r ’s r e p o r t .................... ............................ ..........................
T h e C o m p a n y ’s in v e s tm e n t in th e B . S . & H . B . R y . C o .
D ecrease d u rin g th e y e a r , an d w h ich is ex p la in e d b e l o w . .
$ 2 ,0 6 3 ,0 0 0 00
in creased d u rin g th e y e a r th e s u m o f $ 3 3 ,3 0 4 2 8 .
Interest is not accrued or paid on bonds held in the Com­
T h e C r o w ’s N e t S o u th e rn R y . C o . a lso c a p ita lize d its
pany’s treasury.
p r o p e r ty d u rin g th e y e a r , issu in g $ 4 ,0 3 0 ,0 0 0 0 0 a d d itio n a l
1
J
C H A N G E S IN B O N D E D D E B T .
There has been a net increase during the year of $2,063,­ c a p ita l s to c k , th u s m a k in g th e to ta l a m o u n t issu ed a n d n o w
000 00 in the amount of bonds outstanding in the hands of the o u ts ta n d in g $ 4 ,1 5 0 ,0 0 0 0 0 . T h e e n tire a m o u n t is ow n e d b y
public, a comparative statement of which is given on another th e G re a t N o r th e rn a n d w as p a id fo r a t p a r . T h e p ro ce e d s
.o f th e a d d itio n a l s to c k issu ed w ere u sed in p a r tly re p a y in g
page. This net increase is explained as follows:
th e G re a t N o r th e rn th e a m o u n ts a d v a n c e d for c o n str u c tio n
S t. P . M . & M . R y . B on d s—
a n d for d isch a rgin g th e cost o f a d d itio n a l c o n str u c tio n a n d
C onsolidated M ortga ge B on d s, issued In e x ch a n g e fo r S e co n d
M ortgage an d D a k o ta E x te n sio n M ortg age B on d s sur­
a d d itio n s a n d b e tte r m e n t w ork d o n e d u rin g th e y e a r .
The
ren dered and c a n ce le d , as be lo w sta te d , as fo llo w s :
C o m p a n y ’s in v e s tm e n t in th e C r o w ’s N e s t S o u th e rn R y . C o .
Issued a t 4 H p er c e n t ------------------------------- $858,000 00
Issu ed at 4 per c e n t ----------------------------------- 2 ,6 2 1 ,0 0 0 00
in creased $ 3 6 6 ,1 1 3 3 6 d u rin g th e y e a r , w h ich in clu d e s a d ­
v a n c e s to th e a m o u n t of $ 1 9 ,3 9 3 3 2 , fo r w h ich C r o w ’s N e s t
T o ta l Is s u e d _____________________________________________$ 3 ,4 7 9 ,0 0 0 00
Second M ortgage 6 P e r Cent B on d s, surren­
S o u th e rn S to c k is y e t to b e issu e d .
d ered an d ca n celed , as a b o v e ---------------------- $ 2 ,2 9 2 ,0 0 0 00
A d v a n c e s to o th e r c o n tro lle d C a n a d ia n C o m p a n ie s to p a y
D akota e x te n s io n M ortgage 6 P e r Cent B on ds,
su rren d ered an d c a n ce le d , as a b o v e ------------ 1 ,187,000 00
for c o n s tr u c tio n , a d d itio n a l p ro p e rty a n d a d d itio n s a n d
b e tte r m e n t w o rk w ere m a d e d u rin g th e y e a r as fo llo w s :
T o t a l b on d s surrendered a n d c a n c e l e d ............................... 3 ,4 7 9 ,0 0 0 00
1?
Midland Ry. Co. of Manitoba________________________________
Nelson & Fort Sheppard Ry. Co______________________________
27.. 14
E astern R y . C o. o f M in nesota B o n d s —
Red Mountain Ry. Co. for equipment retired from service
N orthern D iv is io n F irst M ortgage 4 1 er Cent
and property abandoned__________ __________ __________ (C redit) 2,667 26
B on ds held in C o m p a n y ’s treasu ry J u ly 1
1908, as per last y e a r s re p o rt, page 1 0 - - - .$ 2 ,0 6 5 , 000 00
New Westminster Southern Ry. Co___________________________ _____
Vancouver Victoria & Eastern Ry. & Nav. Co----------------------- 2,31/,770 47
Issu ed du rin g y ear on re d e m p tio n o f F irst
These advances with the increase. In the Company’s Invest­
D iv ision First M ortgage B o n d s , as b e lo w
70,000 00
ment In the
„
„„ „„„
T ota I
....................................... ............................ $ 2 ,1 3 5 ,0 0 0 00
Brandon Saskatchewan & Hudson's Bay Ry. Co------------33,304 28
Crow’s Nest Southern Ry. Co------------------------------------------366,113 36
H e ld In treasu ry J u n e h o 1909, as p er ta b le o n page 6 ------2,0 0 0 00
BO N D S ASSU M ED.

S o ld d u rin g y e a r _________________________________________ .$ 2 ,1 3 3 ,0 0 0 00
F irst D iv is io n F irst M ortga ge 5 P e r Cent B on d s, m atu red
A p ril I 1908, presen ted a n d red eem ed d u rin g th e y e a r . .
70,0 0 0 00
N et Increase In a m o u n t o f b o n d s o u ts ta n d in g In hands
o f p u b lic ...................... ..................... ................................................. $ 2 ,0 6 3 ,0 0 0 00
M A T U R IN G B O N D S .

The St. Paul Minneapolis & Manitoba R y. Co.’s Second
Mortgage 6 per cent Bonds mature October 1 1909. Of the
original issue of $8,000,000 00, $3,368,000 00 were out­
standing at the close of the fiscal year June 30 1909. Unless
previously exchanged for that Company’s Consolidated
Mortgage 4 per cent Bonds, these Bonds will be paid off at
maturity and the Consolidated Mortgage Bonds that will be
issued on their redemption covered into the Great Northern
Company’s treasury.
The Manitoba Company’s Dakota Extension Mortgage
6 per cent Bonds mature November 1 1910. Of the original
issue of $5,676,000 00, $3,035,000 00 were outstanding
June 30 1909, and provision has been made for exchanging




above explained, make up as expended on account of con­
trolled Canadian Companies during the year, a total o f --$ 2 ,7o6,710 2o
In addition there was advanced during the year towards the
construction of the Spokane Portland & Seattle Ry. (owned
by the Great Northern and Northern Pacific Railway Comp an ics)._______ _____________________ - ..........................- ...........

$376,250 00

w h ic h m a k e s u p a p o rtio n of th e a m o u n t of $ 1 ,0 6 4 ,4 0 3 5 7
sh o w n on a n o th e r p a g e as d isb u rse d d u rin g th e y e a r for
“ M iscella n eou s In v e s tm e n t s a n d A d v a n c e s .”
U p o n th e c o m p le tio n o f th e S p o k a n e P o r tla n d & S e a ttle
l l y . , th a t C o m p a n y w ill issu e its secu rities to th e G re a t
N o r th e rn a n d N o r th e rn P acific c o m p a n ie s , a n d s a m e w ill
re p la ce th e a m o u n ts n o w b e in g carried on th e b o o k s as a d ­
v a n c e s m a d e on a c c o u n t o f th e c o n str u c tio n of th e S . P . & S .
lin e .
_
T h e C o m p a n y ’s in v e s tm e n t in th e L a k e S u p erior T e rm in a l
& T ra n sfe r R y . C o . w a s in creased $ 6 5 ,2 6 7 12 d u rin g th e
y e a r , o f w h ich $ 6 5 ,0 0 0 0 0 c o v e r s th e C o m p a n y ’s p ro p o rtio n
o f a d d itio n a l c a p ita l s to c k issu ed b y th e T e r m in a l C o m p a n y

at par to secure funds with which to pay off its bond issue of
§195,000 00 that matured April 1 1909.
As stated on another page, there was expended during the
year for Additions and Betterments on properties owned by
the Great Northern Ry. Co., the sum of §3,799,257 38. Of
this amount, §1,687,156 75, the cost of Additions, is con­
sidered as paid from capital account; the cost of Betterments,
§2,112,100 63, has been charged against the “ Fund for Per­
manent Improvements and Renewals” and has been credited
to “ Cost of Additions and Betterments paid for from ‘Fund
for Permanent Improvements and Renewals.’ ” As shown
in the Income Account, §2,789,960 93, being the surplus
income for the year, has been transferred to the “ Fund for
Permanent Improvements and Renewals” ; and there has
also been credited to that fund §24,676 97, the net proceeds
from sale of town lots and lands not forming a portion of the
railway property or land grant.
In accordance with a resolution adopted at the annual
stockholders' meeting October 8 1908, the Lake Superior
Company, Limited, turned over to the Company §5,525,­
868 96 cash and stocks and bonds which have been valued at
§2,417,705 00. The full amount of §7,943,573 96 has been
credited to Profit and Loss.
Details of expenditures for equipment, elevators, &c.,
appear in the President's report and also in tables on another
page.
The Board respectfully calls attention of the shareholders
to the reports of the President, the Comptroller, with custo­
mary balance sheet and statistical tables, and of the Land
Commissioner.
JAMES J. K IL L , Chairman.
R E P O R T OF P R E S ID E N T .
M r. James J. Hill, Chairman, Board of Directors.
Dear Sir— Herewith please find report for the fiscal year
ended June 30 1909:
R E V E N U E S , O P E R A T I N G E X P E N S E S , V O L U M E O F T R A F F I C , & c.

The gross operating revenues for the year amounted to
§53,687,444 47, a decrease compared with the previous year
of §742,188 24, or 1.36 per cent. Revenue from transporta­
tion decreased §751,610 27, or 1.39 per cent. Freight reve­
nue decreased §846,609 49, or 2.10 per cent.
For the reasons stated in last year’s report, the effects of
the financial depression of 1907 were not felt by the Company
until February 1908, the revenues between July 1 1907 and
that date showing an increase monthly, and for that period
being the largest in the Company’s history. On account of
the early movement of the 1908 grain crop, the earnings be­
tween September 7th and October 15th 1908 showed an in­
crease over the corresponding period of the previous year, but
that was simply the anticipation of earnings, for with that
exception and the last week in December 1908 the earnings
each week were below those of the previous year, the net
decrease in freight revenue to January 31 1909 amounting to
§3,597,472 06. The improvement began shortly before the
first of February 1909, when the comparison was with the
depressed conditions of the preceding year; between February 1
and June 30 1909 the freight revenue increased §2,750,­
862 57 over the previous year.
The number of tons of revenue freight hauled during the
year decreased 1,170,911 tons, or 6.08 per cent; the number
of tons hauled one mile decreased 322,050,957, or 6.24 per
cent; the average distance each ton was hauled was 267.55
miles, a decrease of but .45 miles, or 17-100 of one per cent,
and the average revenue per ton per mile increased 345- 10,000
of a cent, or 4.42 per cent. This increase in the average
revenue per ton per mile was not due to advances in freight
rates but to the falling off in the volume of low-class traffic.
Passenger train revenue increased §64,428 68, or 48-100 of
one per cent over last year, made up from increases in the
revenues from transportation of mails, express, excess bag­
gage, &c., for the revenue from transportation of passengers
decreased §211,605 04, or 1.89 per cent. The number of
passengers carried increased 238,420, or 3.43 per cent; but on
account of the decrease of 2.712 miles, or 3.83 per cent, in the
average distance each passenger was carried, the number of
passengers carried one mile decreased 2,615,819, or 53-100
of one per cent. The average revenue per passenger per mile
decreased from 2.27 cents to 2.239 cents, or 1.37 per cent.
Testimony before a Master is still being taken in the
Minnesota rate cases, referred to in last year’s report.
Operating Expenses in the aggregate decreased §3,592,­
748 83, or 9.94 per cent. The expenditures for Maintenance
of Way and Structures increased §208,623 43, or 2.18 per
cent, due in part to increased road mileage and in part to the
large amount of work done. Of the decrease in the amount
charged to Maintenance of Equipment, or §1,996,262 03,
§995,921 41 is on account of smaller charges for depreciation.
During the year the original cost of all equipment was found,
its salvage value carefully estimated, and the amount of
depreciation accrued to July 1 1909 ascertained. From this
last amount were deducted previous charges for depreciation
and the amounts previously placed to the credit of the Equip­
ment Replacement Fund, leaving a balance which has been
charged as the depreciation for the current year and which,
on account of credits that had been made to the Replacement
Fund from sources other than operating income, was smaller
than in previous years. The adjustments of the deprecia­
tion accounts and the replacement fund also reduced charges
to “ Renewals” under operat ng expenses for equipmen




taken out of service. The equipment has been maintained
in every respect and is in first-class condition to handle the
increased traffic. Smaller expenditures for maintenance
naturally result from the decrease during the year in loco­
m otive and car mileage. Transportation expenses decreased
§1,829,588 15, or 10.99 per cent, compared with a reduction
of but 2.26 per cent in the total train mileage.
The decrease of .676 tons in the average load per loaded
freight car was caused by the falling off in shipments of lowclass freight, iron ore, &c., and although there was a larger
percentage of increase in the average number of freight cars
per train mile, the greater proportion of dead weight hauled
decreased the average number of tons per freight train mile
to 502.099, or a reduction of 1.49 per cent.
There has been a gradual but steady increase in the volume
of traffic handled since February last and which apparently
will continue. The grain crop just harvested is larger than
for several years, and at the good prices prevailing should
make the country served by the Company’s lines very
prosperous.
NEW

L IN E S .

It was stated in last year’s report that the line from Armington to a connection with the Northern Pacific and Burling­
ton companies at Laurel, Mont., had at that time been sub­
stantially completed, limited service between Armington
and Judith Gap, Mont., 92.63 miles, having been established
June 26 1908. The length of the entire line from Armington
to Laurel Junction is 194.53 miles. Trackage rights over the
Northern Pacific Railway from Laurel Junction to Billings,
Mont., 12.34 miles, having been obtained, through freight and
passenger train service to Billings was put on November 1
1908. The passenger traffic is handled through the Northern
Pacific station at Billings, as was the freight traffic until June
1 1909, when the Company opened its own freight station
at that place.
Reference was also made in last year’s report to the exten­
sion ot the Crow’s Nest Southern Railway from Fernie to
Michel, B. C., 20.98 miles, which while substantially com­
pleted by May 1 1908, had not been formally opened for
operation when seriously damaged by the Fernie fire of
August 2 1908. This damage was repaired and the line
formally opened November 30 1908.
The line from Greenbush to Warroad, Minn., 43.15 miles,
which was graded by the Minnesota & Great Northern R y.
Co., as stated in the 1906 report, has been completed by the
Great Northern Ry. Co. and was opened for traffic December
2 1 1908. This extension carries the Company’s lines to the
Lake of the Woods, near the International boundary, and
through a productive country that is being rapidly settled.
The new lino from Blaine, Wash., to the International
boundary, 2.96 miles, mentioned in last year’s report as then
being under construction by the Great Northern, was opened
for operation on March 15 1909. On the same date, March
15 1909, the line of the Vancouver .Victoria & Eastern Ry. &
Nav. Co., from connection at International boundary to
South Westminster, B. C., via Olivers, B. C., 21.05 miles,
was also formally opened for operation. Reference to this
line has also been made in former reports. The completion
of this new route between Blaine, Wash., and South West­
minster, B. C., will permit of the abandonment and removal
of the larger portion of the old heavy grade line, the Cana­
dian portion of which is owned by the New Westminster
Southern R y. Co., between the same points.
Of the other lines mentioned in last year’s report as being
under construction by the Vancouver Victoria & Eastern
Ily . & Nav. Co., that from Cloverdale to Sumas, B. C., 29.29
miles, has been completed but not yet formally opened for
traffic. Work on the extension from Keremos to Princeton,
B. C., 41 miles, has been continued during the year. The
grading had been completed and 1 .5 miles of track had been
laid to June 30 1909. It is expected that the line will be
completed about November 1 1909.
On June 4 1909 the V. V. & E. Ry. & Nav. Co. completed
the laying of track on its branch line at Vancouver, B. C.,
to Burrard Inlet. This takes the Company’s tracks to the
shipping district of Vancouver, where it has valuable dock
property which will shortly be developed.
Spur tracks were built during the year:
To the Bray Mine, on the Mesabi Range, Minn., 1.44 miles
long, and to the plant of the Fidelity Lumber Co., at Albany
Falls, Idaho, 1.99 miles in length.
Work was begun during the year and was in progress
June 30 1909 on the following new lines:
Extension from Nashwauk, Minn., to connection with the
main line at La Prairie, Minn., a distance of about 22 miles,
and on which 6 miles of track had been laid at the close of
the year. This line gives the Company access to the iron
ore mines on the western end of the Mesabi Range, from which
a^large tonnage will be hauled under the agreement with the
Trustees of the Great Northern Iron Ore Properties. It will
also permit the diversion of ore to the main line at La Prairie,
avoiding any congestion. It is expected this line will be
completed about September 15 1909;
Branch line from Columbia River station to Mansfield,
Wash., about 62 miles, of which 2 1 miles had been laid June
30 1909. This branch will furnish transportation to the
Watervillc district, already well settled, in the best part of
the Big Bend country,and where the wheat crop this year
has been unusually large. It is expected this line will be
completed about September 15 1909;
Branch line from Spokane, Wash., about 2 miles long, to

a connection with the Spokane Portland & Seattle Railway, of
which this company is half owner. The work on this con­
nection is very heavy, there being a tunnel 2 ,1 2 0 feet in
length, concrete lined. Upon the completion of this con­
necting track, about December 15 1909, the Company will
be in position to establish direct and through train service
to Portland and Astoria, Ore.
Since the close of the fiscal year work has been commenced
on branch lines from Stanley to Powers Lake, N. D., about 24
miles, and from Bainville to Plentywood, Mont., about 52
miles. These two branches will reach and serve good agri­
cultural territory already well settled, and rapidly producing
new traffic.
.
Pursuant to resolutions adopted by the Board of Directors
September 21 1908, and ratified at the annual stockholders’
meeting October 8 1908, the Company purchased as of August
1 1908, for the sum of $772,161 89, the railway from Saunders
to Allouez, Wis., owned by and, prior to August 1 1908,
leased from the Duluth Superior & Western Terminal Com­
pany. The property purchased consisted of 5.28 miles of
main line with 8.74 miles of second and 29.67 miles of yard
tracks, several buildings, and two cinder cars, and connects
with the ore docks of the Allouez Bay Dock Company,
through which the Company’s iron ore traffic is handled.
Payment was made $270,495 22 in cash and $501,666 67 by
delivery of $500,000 00 (the entire issue) of bonds of the
Duluth Superior & Western Terminal Co. at par and accrued
interest, said bonds having been acquired by this Company
several years ago. Upon the delivery of the bonds, the
Terminal Company canceled them and caused the mortgage
securing them to be satisfied of record. This valuable prop­
erty is, therefore, now owned by the Great Northern free
and clear of any encumbrance. Of the total amount paid,
$771,091 17 has been charged to “ Cost of Road” and S1,­
070 72, the value of the two cinder cars, to “ Cost of Equip­
ment.”
Trackage rights over the Northern Pacific from Seattle to
Tacoma, Wash., 37.9 miles, having been acquired, through
freight service to Tacoma was established December 16 1908
and through passenger train service May 23 1909. The
Northern Pacific passenger facilities are used at Tacoma, and
the work of enlarging and rebuilding them so as to properly
handle the passenger traffic of both companies is in progress.
The Great Northern purchased a large tract of land at Ta­
coma on which have been built a brick freight house 50 by
565 feet, with necessary house and team tracks, track
scales, unloading derrick, &c.; a three-stall engine house
with 80-ft. turntable, coal platform, water supply, &c.;
frame commissary building, and coach and freight yards.
The work was sufficiently completed for the Company to
commence, July 1 1909, to handle its freight traffic through
its own station, the freight facilities of the Northern Pacific
having been used prior to that date.
There have been taken up during the year 10.69 miles of
line between Lakeview and Marion, Mont., same being a por­
tion of the old main line between Kalispell and Jennings,
Mont., referred to at considerable length in report for year
ended June 30 1905, and 6.93 miles of track between Chis­
holm and Dewey Lake, Minn. This last-mentioned track
was originally constructed as a logging spur, has never been
used for regular traffic and has become unnecessary as logging
in the territory served by it has been completed.
E Q U IP M E N T .

It was stated in last year’s report that of the equipment
contracted for, there remained undelivered June 30 1908:
4 electric locomotives, 200 flat cars and 500 gondola cars.
During the fiscal year contracts were placed for 20 locomo­
tives, 21 passenger-train cars, 502 freight cars and 1 pile
driver.
Of the total equipment above mentioned, the following
had been received and taken to account, June 30 1909:
<1 1 0 0 -ton , th ree-p h ase alte rn a tin g sy ste m e le ctr ic lo c o m o tiv e s fo r
h au ling trains th ro u gh the C a sca de tu n n el.
20 P a d lie ty p e steam passenger lo c o m o tiv e s , 2 0 -ln . x 30-In. cy lin d e rs ,
w eigh in g 152,000 p o u n d s o n d rivers,
4 O b s erv a tion co m p a r tm e n t sleepin g cars, 74 fe e t lon g,
200 F la t cars, 8 0 ,000 pou n d s c a p a c it y , 40 fe e t lo n g,
500 D r o p -b o t t o m g o n d o la cars, 100,000 p ou n d s c a p a c it y , 41 fe e t lo n g.

There remained undelivered June 30 1909 17 passengertrain cars, 502 refrigerator cars and 1 pile driver; the passen­
ger equipment has since been received and is now in service.
There were built at the Company’s shops during the year:
1 Passen ger m o to r ca r, u sin g cru d e oil fo r fu el, fn s ervice on b ra n ch line
b etw een A n a c o rtc s an d It o c k p o r t, W a sh . T h is m o to r has s u ffi­
cien t p ow er to haul passenger a n d fre igh t cars as trailers.
20 E igh t-w h eel ca b o o s e cars,
1 F la t ca r, and
1 W a te r car.

All of the above equipment is furnished with air brakes
and automatic couplers.
A t the close of the year there were under construction in
the Company's shops 10 switching locomotives and steel
under-frames for 21 cars carrying Lidgcrwood unloaders.
The passenger equipment used in through trains to the
Pacific Coast is being fitted up with electric lighting appa­
ratus, the “ Oriental Lim ited” trains having been so equipped
prior to the close of the year.
The total amount charged to “ Equipment Account” during
the year, for equipment received under contract, built and
under construction at the Company’s shops, and for improve­
ments and betterments to equipment in service, was $1,217,­
014 60, which includes $1,070 72, the value of the 2 cinder
cars acquired from the Duluth Superior & Western Terminal
Co., as before explained.




There were taken out of service during the year:
29
3
2
8
275
9
11
41
196
9

L o c o m o t iv e s (s o ld ),
1 Ore ca r, steel,
P a ssen ger c o a c h e s ,
8 O re cars, w o o d ,
P a ssen ger an d b a gg a ge cars (1 s o ld ), 21 C a b o o se cars (1 s o ld ),
Ila g g a g c , m all an d exp ress ca rs,
42 B allast cars,
B o x cars (2 s o ld ),
4 B o a rd in g cars,
F u rn itu re ca rs,
1 P ile d riv e r,
R e fr ig e ra to r cars,
1 Snow d ozer,
S to c k cars,
3 W a te r ca rs, and
F la t a n d co a l cars,
1 S u p p ly ca r.
S an d cars.

The original cost of the above equipment was $910,054 08.
Of this amount $1,921 60 has been credited to the investment
in the Red Mountain R y. Co. and $908,132 48 credited to
“ Equipment Account,” both amounts being charged against
the Equipment Depreciation and Replacement Fund. The
amount standing to the credit of said Fund June 30 1909,
$16,051,219 07, as shown by balance sheet, on another page,
represents the depreciation accrued to that date on the
equipment then actually in service and a list of which appears
on page 44 [see pamphlet report].
In addition to the equipment added and taken out of
service during the year and above listed, some conversions
were made requiring changes in classification and adjust­
ments in the accounts resulting in a net credit of $11,572 13
to “ Equipment Account.”
A D D IT IO N S

AND

BETTERM EN TS.

A modern brick passenger station, 43 by 255 feet, has been
built at Everett, Wash., and a frame passenger station, 30 by
98 feet, built at Burlington, Wash. In connection with the
new line from Blaine to the International boundary, a new
passenger station, custom house and water station were built
at Blaine, and the freight station enlarged. Six frame de­
pots, two in replacement, have been built at other stations,
two depots enlarged and improvements, such as heating,
lighting, sidewalks, &c., have been made in the buildings at
seventeen stations.
A feeding yard for stock, consisting of six pens, each 96 by
96 feet, with water supply, &c., has been built at Wliitefish,
Mont.; standard station stock yards, usually with water
supply and scales, built at five stations, and improvements
made in the stock yards at two stations.
One 50-feet, 100-tons capacity track scale with track has
been added.
The engine houses at Melrose, Minn., and Clancy, Mont.,
have been lengthened so as to properly house the larger loco­
motives now in service; a two-stall frame engine house with
cinder pit built at Wagner, Mont., and improvements in the
way of hot water sumps for washing out boilers, wheel pits,
cinder pits, Gantry cranes, &c., have been made at 13
engine houses and shops.
Three 80-feet steel turntables have been put in, replacing
shorter and lighter ones, and one 66-feet turntable in re­
placement of a 50-feet table.
An addition 135 feet by 1,410 feet has been made to the
water-supply storage reservoir at Aneta, N. D., and the
water supply at thirteen other water stations improved by
building new and raising old dams, deepening wells, laying
pipe lines, erecting stand-pipes, raising tanks, &c.
The power house of the Superior, Wis., elevators, which
was damaged by the fire of November 8 1907, as stated in last
year’s report, has been rebuilt on an enlarged plan and
equipped with additional electric machinery. The capacity
of the steel elevator “ S” at Superior will be incerased 2,380,­
000 bushels on the completion, September 15 1909, of the
annex now building, consisting of reinforced concrete storage
tanks. The expenditures during the year on account of
the Superior Elevators amounted to $233,396 06, of which
$196,330 00 was on account of the concrete storage tanks
mentioned and $37,066 06 for increased cost of the power
house and for additional machinery for the power house and
Elevator “ S.”
The following additional miscellaneous structures were
built during the year: 3 loading platforms, 24 mail cranes,
1 bunk house for track laborers, 6 portable depots, 10 ice
houses in addition to 5 ice houses enlarged, 3 coaling plat­
forms, 1 600-feet snow shed on the Cascade Division and 7
small miscellaneous buildings.
The electric power plant hear Leavenworth, Wash., for
handling trains through the Cascade Tunnel with electric
motors, referred to on page 33 of last year’s report, has been
completed and put into service. Its operation has been so
satisfactory that contracts have been awarded for the en­
largement of the plant. By the use of electric motors in
place of steam locomotives, and the resulting freedom from
gas and smoke, the capacity of the tunnel, or the number o f
trains that can be handled through it in 24 hours, has been
increased many times.
Changes of line and grade have been made as follows:
A t Albany Falls, Idaho, referred to in the last two annual
reports, 3.11 miles in length, reducing distance nearly half a
mile, reducing the maximum grade 2 - 10 ths of one per cent,
and making large reductions in both the maximum and total
curvature;
A t Power, Mont., 5.46 miles, reducing distance nearly onehalf mile, reducing the maximum grade y of one per cent,
and substantial reduction in curvature;
At Boulder, Mont., 2,128 feet, reducing maximum grade
1-lOth of one per cent;
At W olf Creek, Mont., 2.41 miles. The three line changes
last mentioned were made when rebuilding the lines washed
out by floods of 1908, referred to in the last annual report ,

and the new lines have been located with the object of pre­
Of the total amount shown, Additions costing $56,888 40
venting similar damage being done in the future.
and Betterments costing $139,793 31, or a total of $196,­
A minor change 3,806 feet in length was made on the 681 71, were made to the properties of controlled Canadian
Cascade Division, eliminating bridges Nos. 390 and 391.
Companies, and are included in the amount shown on a pre­
Continuing the improvement of the line along Puget ceding page as advanced to such companies during the year,
Sound, 5,411 lineal feet of sea wall was completed between leaving as expended on properties owned by the Great North­
Ballard and Everett, Wash., and 9.82 miles of second track ern R y. Co.:
laid between Mosher and Richmond Beach, Wash. The A d d itio n s ............... ........................................................................................ $ 1 ,6 8 7 ,1 5 6 75
construction of this second track made necessary several B e t t e r m e n t s ______________________________________________________ 2 , i 12,100 63
changes in the alignment of the main track, resulting in short­
T o t a l - ............................................................................................................ $ 3 ,7 9 9 ,2 5 7 38
ening the same 222 feet.
Embankments have been widened or restored to original
Many important improvements are now in progress.
width on 820.5 miles of road and 995.8 miles of track have
Regardless of the falling off in revenue during the year,
been ballasted with gravel, including restoration of ballast
there has been no suspension or curtailment of work on the
or improvement through giving additional lift.
Company's roadbed, tracks and equipment. As previously
In the replacement of wooden and iron bridges and trestles
with steel, or filling them with solid embankments, the fol­ stated, the expenditures for Maintenance of W ay and Struc­
tures show an increase of $208,623 43 over last year. The
lowing work was done during the year:
property has not only been fully maintained during the year
L en g th o f steel b rid ges b u ilt In re p la ce m e n t _________ _______ 6,440 lln. f t.
but greatly improved, and in its entirety is in better con­
L en g th o f b rid g es filled ---------------------------------------------------------------15,403 “
“
dition and better able to handle traffic than at any pre­
T o t a l . ................................................................- ...........................................2 1,843 lln . f t .
vious time.
To provide waterways for bridges filled as above, there
Respectfully submitted,
were built 10 concrete culverts, 20 pipe culverts and 3 box
L. W . H IL L ,
culverts. Five concrete culverts were built, replacing pipe
and timber culverts and 298 pipe culverts replacing wooden
President.
box culverts.
The following is the approximate yardage of material
moved during the year in doing the work described:
I n Changes o f line a n d re d u c tio n o f g r a d e s ______________ 1 ,3 2 0 ,5 4 0 c u . y d s .
W id e n in g , raising a n d r es to rin g b a n k s_________________ 1 ,350,577 “
“
B a lla stin g (gravel) _____________________________________ 1,218,121 “
“
F illin g bridges _____________________________
309 ,823 “
“
F illin g tid e lands at S ea ttle , W a s h _____________________ 4 6 0 ,0 0 0 “
F illin g tid e lands a t V a n c o u v e r , B . C __________________ 184,300 “
"
T o t a l __________

4 ,8 4 3 ,3 7 0 c u . y d s .

There were also placed on old lines:

R E V E N U E A C C O U N T — R E V E N U E S , O P E R A T I N G E X P E N S E S , E T C .,
F O R T H E F IS C A L Y E A R E N D E D J U N E 30 1909 O F T H E L I N E S
O P E R A T E D AS G R E A T N O R T H E R N R A IL W A Y C O M P A N Y
A N D T H O S E IN D E P E N D E N T L Y O P E R A T E D : IO W A & G R E A T
N O R T H E R N R A IL W A Y C O M P A N Y A N D M IN N E A P O L IS W E S T ­
ER N R A IL W A Y CO M PAN Y.

M a son ry _____________________________________________________
20,069 cu . y d s .
C o n cr e te ________________________________________________________
26,283 “ “
R ip r a p _________
180,595 "
“
T o t a l _____________________________________________ ______ ____

2 26 ,947 cu . y d s .

Main tracks have been relaid during the year: 262.27 miles
with 90-pound rail, 12.39 miles with 85-pound rail, 2.54 miles
with 80-pound rail, 33.88 miles with 75-pound rail, 116.97
miles with 68-pound rail and 18.21 miles with 56-pound rail,
in each case replacing rails of lighter weight; total, 446.26
miles.
Additional sidings and spurs have been built as the traffic
and its movement required, the net increase in side track
mileage during the year, not including tracks on new lines
under construction, purchased or opened for operation
during the year, being:
L in es ow n ed b y the G reat N o rth e rn R y . C o ______________________ 25.84 m iles
L ines ow n ed b y th e Io w a & G reat N o rth e rn R a ilw a y C o .
.10 “
and Its c o n tr o lle d p r o p e r ty — th e U n ion T e rm in a l R y . C o ____
.24 “
L in es o w n e d b y c o n tr o lle d C a n adian C om pa n ies:
B ran d on S a sk a tch ew a n & H u d s o n ’s B a y R y . C o _____________ 1.16 “
C r o w ’s N est S ou th ern R y . C o ____________________________________
.93 ‘
V a n c o u v e r V ic to r ia & E a stern R y . & N a v . C o _______________2 .3 7
“
N ew W estm in ster S ou th ern R y . C o -----------------------------------------.10 “
30 .7 4 m iles
L ess— N elson & F o r t S h ep p a rd R y . C o --------------------R e d M ou n ta in R y . C o . -------------------------------------

.11 m iles
.31 “

.42

“

30.32 m iles

N et a d d itio n a l side tra ck m ileage o n o ld lines

N ot including fencing on new lines, 146.4 miles of rightof-way fences have been built during the year, and a large
number of trees planted along the lines in North Dakota to
furnish protection from snow.
A 32-lever interlocking plant has been built at Coon Creek
Junction, Minn., replacing a smaller plant burned, to proect the crossing of the Northern Pacific tracks. Smaller
interlockers have been put in at four other points to protect
railway crossings and drawbridges. The staff block signal
system has been installed between Havre and Pacific Junc­
tion, Mont.
Following the plan of previous years, only such amounts
as represented cost of actual additions to or betterments of
the property have been charged to “ Additions and Better­
ments. ” The Company’s past practice in this respect has,
if anything, been a little more conservative than the lines
laid down by the Inter-State Commerce Commission in its
“ Classification of Expenditures for Additions and Better­
ments” which became effective July 1 1909. The following
is a statement by accounts of the amounts charged to “ Ad­
ditions and Betterments” during the year:
A cco u n ts—
R ig h t o f W a y ..................................
R ea l E s ta te ___________
M ason ry ________________________
C rib b in g a n d B u lk h e a d in g ____
B ridges an d C u lv erts ....................
R o a d w a y an d T r a c k ___________
In creased W eig h t o f R a i l _____
S idin gs an d S pu r T r a c k s _______
F e n c e s ............................
T e le g r a p h ________________________
T r a n sp o rta tio n
D ep a rtm en t
B u ild in g s __________
S t o c k Y a r d s _____________________
R o a d D ep a rtm en t B u ild in g s___
R o u n d H ouses and S h o p s ..........
S h o p M ach in ery an d T o o l s ____
F u el an d W a ter S ta tio n s _______
D o c k s , W h a rv es, L a n d in gs and
I n c l i n e s .........................................
E le c tr ic P o w e r P la n t....................
E le c tr ic P o w e r T ran sm ission
S n ow F en ces a n d S n ow S h e d s -.
M iscella n eou s B u ild in g s ------------

A d d ition s.
$12 4,24 5 57
9,335 07
1,188 21
____________
4 5 ,2 3 5 07
104,086 30
____________
195,641 37
20,468 14
1,301 97
75,618
3,582
*2,981
59,727
65,189
3,4 1 4

69
01
18
88
79
33

*4,204 00
726,381 32
299,793 93
____________
16,020 68

B etterm ents.
$393,828
*53 ,2 9 0
220 ,026
915 ,005
4 1 9 ,5 6 5

83
01
80
56
11

90,057 70
94,245 74
*147
38,482
76
88,546

87
52
12
30

3,984 44
2 9 ,350 30
12,162 40

Total.
$ 1 2 4,24 5
9,335
3 9 5 ,0 1 7
*53,290
265,261
1,019,091
4 1 9 ,5 6 5
195,641
20,468
91,3 5 9

57
07
04
01
87
86
It
37
14
67

169,864
3,5 8 2
*3,129
9 8 ,210
65,265
91,960

43
01
05
40
91
63

*219
726,381
299,793
29,3 5 0
28,183

56
32
93
30
08

T o t a l ....................- ..........................$ 1 ,7 4 4 ,0 4 5 15 $ 2 ,2 5 1 ,8 9 3 94 $ 3 ,9 9 5 ,9 3 9 09
* C redits.




R even u es.
Y ea r ended J u n e 30 1909.
P e r Cent
R evenue from T ran s­
A m o u n t.
portation—
o f Total.
F r e ig h t_________________ 73.5085 $3 9 ,4 6 4 ,8 1 0 65
1 0 ,977,948 22
Passen ger ...................... .. 20.4479
.2933
157,483 02
E xcess B a g g a g e _______
45,813 30
.0853
P a rlo r an d C hair Car .
2.8367
1 ,522,962 56
M a l l ____________________
1.5751
845 ,627 04
E x p r e s s ________________
O th er P assen ger Train
2,5 1 8 76
R e v e n u e ____________
.0047
387 ,838 29
.7224
S w it c h i n g _______ ____
.0401
21,535 95
S pecial S e rvice T r a in s .
M iscellaneous T r a n sp o r ­
33,9 2 4 19
ta tio n R e v e n u e _____
.0632
T o t a l R e v e n u e fro m
T r a n sp o rta tio n . . 99.5772 $53 ,460 ,46 1 98
R evenu e from O perations
other than T ra n sp ort’n —
S ta tio n an d T ra in P r iv i­
leges .........
P a rcel R o o m R e c e ip t s .
S to ra g e — F reigh t
an d
B a g g a g e ..................
Car S e r v ic e ____________
T e le gra p h S e r v ic e _____
R e n ts o f B u ildings an d
o th e r P r o p e r t y ______
M is c e lla n e o u s _________

Y ea r ended J u n e SO 1908.
A m o u n t.
$ 4 0 ,3 1 1 ,4 2 0 14
11,189,553 26
137,294 67

P e r Cent
o f Total.
74.0 6 1 5
20.5578
.2522

1,3 8 8 ,9 2 6 28
771 ,188 92

2.5518
1.4169

____

961 09
3 6 0 ,8 8 0 07
18,869 97

.0018
.6630
.0347

3 2 ,9 7 7 85

.0606

$5 4 ,2 1 2 ,0 7 2 25

99.6003

.0419
.0236

$22 ,510 45
12,638 65

$20 ,967 38
11,946 15

.0385
.0220

.0548
.1193
.0241

29,416 89
64,036 18
12,949 84

3 4 ,546 54
66,697 19
6,553 66

.0635
.1225
.0120

.0475
.1116

25,498 33
59,932 15

23,327 86
53,521 68

.0429
.0983

T o t a l .......................................4228

$226,982 49

$21 7,56 0 46

.3997

G ross O p e ra tin g R e v e ­
n u e s _________________ 100.0000 $ 53 ,687 ,44 4 47

$54 ,4 2 9 ,6 3 2 71 100.0000

O p e ra tin g E x p e n s e s .*
Y ea r ended J u n e SO 1909.
P e r Cent
o f Total.

C lass—
M ain ten an ce o f W a y
an d S tr u c tu r e s _____ 30.0962
M ain ten an ce o f E q u ip ­
m e n t _________________ 18.9652
T r a ffic E x p e n se s_______ 2.2912
T r a n s p o rta t’ n E xpen ses 45.5329
G eneral E x p e n s e s _____
3.1145

Y ea r ended J u n e 30 1908.
P e r Cent
o f Total.

A m o u n t.

A m o u n t.
$ 9 ,7 9 7 ,3 7 0 45

$ 9 ,5 8 8 ,7 4 7 02

26.5276

6,173",846
745 ,8 4 6
1 4 ,8 2 2 ,5 4 6
1,0 1 3 ,8 7 7

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

22,6029
2.0233
46.0688
2.7774

52
55
39
31

T o t a l O p e ra tin g E x ­
penses ____________ 100 .000 0 $3 2 ,5 5 3 ,4 8 7 22

55
10
54
84

$ 3 6 ,1 4 6 ,2 3 6 05 100.0000

1909.
P e r M ile o f R oad Operated—
.$ 7 ,8 5 2 64
R e v e n u e fro m T r a n s p o r t a t io n -----------------------------33 34
R e v e n u e fro m O p e ra tio n s O th er th an T r a n s p o r ta tio n ..

1908.
$8,221 29
32 99

G ross O p era tin g R e v e n u e s _____________________
O p e ra tin g E x p e n s e s________________________ ______

.$ 7 ,8 8 5 98
. 4,781 68

$8,254 28
5,481 59

N et O p e ra tin g R e v e n u e ________________________
N et R e v e n u e fro m O u tsid e O p e r a tio n s ..................

.

$3,104 30
36 60

$2,772 69
50 61

T o ta l N et R e v e n u e _____________________________
T a x e s A c c r u e d _____________________________________

.

$3,140 90
377 55

$2,823 30
347 00

O p e ra tin g E x pen ses, p er ce n t o f:
T o ta l R ev e n u e fro m T r a n s p o rta tio n .............
G ross O p eratin g R e v e n u e s ___________________
O p eratin g E x penses and T a x e s , per ce n t o f:
O utside O p e ra tio n s .

$2,763 35

$2,476 30

. 6 ,8 0 7 .9 6

0 ,594.11

60.89
60.64

60.68
66.41

05.12

70.18

l
.

* In ord er th a t p ro p e r com p arison s m ig h t be m a d e , the 1908 O p e ra tin g
E x pen ses and th e a verages based th e re o n h a ve been revised to c o n fo rm
t o th e In te r-S ta te C om m erce C o m m is s io n ’s a m e n d m e n t, e ffe ctiv e J u ly 1
1908, to Its C lassllleatlon o f O p e ra tin g E xpen ses, th e 1909 a c c o u n ts h a vin g
been k e p t a c c o r d in g t o th a t revised cla ssifica tion . T h is will e x p la in w h y
th e 1908 figures g iv e n a b o v e an d on th e p r e ce d in g page d o n o t In all cases
co rre s p o n d w ith th ose p u b lish e d In last y e a r's re p o rt.

IN C O M E A C C O U N T — F IS C A L Y E A R

E N D E D J U N E 30 1909.

L in es O p era ted a s G rea t N orthern R a ilw a y C o m p a n y an d T h o se In d e­
p e n d e n tly O p era ted : Io w a & G reat N orthern R a ilw a y C o m p a n y an d
M in n e a p o lis W e ste rn R a ilw a y C o m p a n y .
O perating In com e—
R a il O p era tion s :
O p era tin g R ev en u es
O p era tin g E xpen ses

............................$ 3 ,4 8 3 ,3 5 5 61 $ 1 8 ,8 1 2 ,7 8 2 90
...........
2 6 9 ,2 1 9 20
............. ..............
1 ,2 2 5 74

B rought forw ard .........................
P r o fit o n P ro p e rtie s S o ld
M iscella n eou s I n c o m e _____

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

T o t a l O th er I n c o m e ___

3 ,7 5 3 ,8 0 0 55

G ross C o rp o ra te I n c o m e _________________________________________ $ 2 2 ,5 6 6 ,5 8 3 45
$ 5 3 ,687 ,44 4 47
3 2 ,5 5 3 ,4 8 7 22

N et O p era tin g R e v e n u e s -----------O u tsid e O p era tion s:
N e t R ev e n u e s fr o m :
S leep in g C a rs.....................................
D in in g an d B u llet P a rlo r C a r s ...
E a tin g H ou ses a n d R estau ra n ts.

D ed u ction s from G ross C orporate In c o m e —
$ 2 1 ,1 3 3 ,9 5 7 25

$277,986 01
L oss 4 0,068 13
11,280 13
2 49 ,198 01
$ 2 1 ,3 8 3 ,1 5 5 26
2 ,5 7 0 ,3 7 2 36
$ 1 8 ,8 1 2 ,7 8 2 90

O p era tin g I n c o m e -------------------O th e r In c o m e :
R e n ts R e c e i v e d - .......... - ........... .
H ire o f E q u ip m e n t— B a lan ce
D iv id e n d s on S to c k O w n e d ..
In teres t on B on d s O w n e d ____
G eneral In t e r e s t --------------------P ro fit o n Secu rities S o ld _____

$ 65 2,25 0
167,382
034,168
82,731
1 ,0 9 8 ,5 3 9
548,282

$ 23 0,88 9 73
4 ,7 2 6 ,5 3 6 41
121 ,723 38

T o t a l D e d u c tio n s fr o m G ross C o rp o ra te I n c o m e ........ .............. - 5 ,0 7 9,149 52

N e t R e v e n u e fro m O u tsid e O peration s.
T o t a l N et R e v e n u e ---------T a x e s A c c r u e d ------------------------------

R e n ta ls P a id _____________ ___________ - ................
B o n d In te re s t A c c r u e d _________________________
D e ficit u n d e r G u aran tee o f In te re st o n K o o te ­
n a y R y . & N a v . C o .’s D e b e n tu re S t o c k ____

20
86
00
67
98
90

N e t C o rp o ra te I n c o m e ................................................. ...................$ 1 7 ,4 8 7 ,4 3 3 93
A g a in st w hich has been charged—
D iv id e n d s o n G rea t N o rth e rn R y . S t o c k :
A ug.
1190 8,
1 >A%o n $ 2 0 9 ,9 5 7 ,4 0 0 0 0 . - - $ 3 ,674,254 50
N ov.
1190 8,
1 % % o n 2 0 9 ,9 6 2 ,0 0 0 0 0 - . _ 3 ,6 7 4 ,3 3 5 00
Feb.
1190 9,
1 *A% o n 2 0 9 ,9 6 6 ,5 0 0 0 0 - - - 3 ,6 7 4 ,4 1 3 75
M ay
11909,
W a. % o n 2 0 9 ,9 6 9 ,7 0 0 0 0 . . . 3 ,6 7 4 ,4 6 9 75
1 4 ,6 9 7 ,4 7 3 00

T o t a l d iv id e n d s o n S to ck .

B a la n ce , tra n sfe rre d t o " F u n d f o r P e rm a n e n t I m p r o v e ­
m ents a n d R e n e w a ls ” _____________________________________ $ 2 ,7 8 9 ,9 6 0 93

S T A T IS T IC S O F F R E IG H T A N D P A S S E N G E R T R A F F IC ON S Y S T E M F O R T H E
P R E V IO U S Y E A R .

YEAR

ENDED

JU N E

30

190 9, C O M P A R E D

W IT H

In crea se or D ecrea se.
D E S C R IP T IO N .

F R E IG H T

1908.

8 ,8 3 4 ,8 5 2
8 08 ,617

9 ,3 2 0 ,9 5 3
8 10 ,699

486,101
2,082

9 ,6 4 3 ,4 6 9

10 ,1 3 1 ,6 5 2

4 88 ,183

D ee r

T R A F F IC —

F reig h t T ra in M lles.
M lx ed T ra in M iles. .
T o ta l
M ileage o f L o c o m o t iv e s e m p lo y e d In " h e lp in g ” F re ig h t a n d M ix e d T r a in s .
P e r c e n ta g e o f " h e lp in g " t o R e v e n u e T ra in M ileage------------------------------------L oaded

1909.

F reig h t C ar M iles.

E m p t y F r e ig h t C ar M i l e s . ..
C a b o o s e C ar M iles....................
T o t a l ____________________
T o n s o f F reig h t C arried—
R e v e n u e ----------------------C o m p a n y _______________
T ota l
T o n s o f R e v e n u e F reig h t C arried O ne M ile -------------------- - - - - - - - ­
T o t a l T o n s C arried O ne M ile (R e v e n u e a n d C o m p a n y F r e ig h t ).
F reig h t R e v e n u e ______________________________________________________
A v era g es—
A ll F reig h t Cars p er T ra in M il e .-------------------------------------- ----------- - T o n s R e v e n u e F reig h t p e r T ra in M ile---------------------------------------T o n s R e v e n u e F reigh t p e r L o a d e d Car M ile------------­
T o n s o f R e v e n u e F reigh t carried O ne M ile p e r M ile o f R o a cl.
D ls ta n c c H a u l o f O ne T o n — M iles------------------------------------------------

259 ,153
2.6873

33 4 ,9 5 0
3 .3 0 6 0

5.2151
.2568

7 5,797
15.5263

244 ,2 2 4 ,7 4 2

2 5 1 ,8 8 0 ,6 7 7

7 ,6 5 5 ,9 3 5

8 3 ,5 4 8 ,8 4 9

7 6 ,4 2 9 ,3 0 6

7 ,1 1 9 ,5 4 3

22.6294

In cr
D ee r

9,212,053

9,49 6 ,3 3 1

284 ,278

336 ,0 8 5 ,6 4 4

3 3 7 ,8 0 6 ,3 1 4

8 20 ,670

.2429

18,09 7 ,2 6 4
3 ,2 1 6 ,8 6 3

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

1,170,911
141,267

6 .0769
4 .2067

2 1 ,3 1 4 ,1 2 7

2 2 ,6 2 6 ,3 0 5

1 ,3 1 2 ,1 7 8

5.7993

4 ,8 4 1 ,9 7 3 ,2 0 1
5 ,7 2 2 ,2 2 8 ,1 0 6
$ 3 9 ,4 6 4 ,8 1 0 65

5 ,1 6 4 ,0 2 4 ,1 5 8
5 ,9 9 4 ,7 8 1 ,7 4 7
$ 4 0 ,3 1 1 ,4 2 0 14

34.9 4
5 02 .099
19.826
711 ,222
267 .55

33.34
509 .692
20.502
7 83 ,127
268 .00

F reig h t R e v e n u e p e r T ra in M ile ........................... ........... .......................

$4 09

$3 98

F reig h t R e v e n u e p er M ile o f R o a d --------------------------------------------

$5,796 86

$6,113 25
.7806

.8151

R e v e n u e p er T o n per M ile— C e n ts-------------------------------------------------

3 2 2 ,0 5 0 ,9 5 7
272 ,553 ,64 1
$84 6,60 9 49
In cr
1.60
D eer
7.593
.676
71,905
.45
In cr

$ 0.11

D eer
$316 39
In cr
.0345

P A S S E N G E R T R A F F IC —
P a ssen ger T ra in M iles ................. ..
M ix ed T ra in M iles-----------------------T ota l
a ssen ger T ra in s .
M ileage o f L o c o m o t iv e s e m p lo y e d In h elp in g P
Pas;
P e rce n ta g e o f “ h e lp in g " t o R e v e n u e T ra in M ileage
P assen gers Carried
P assen gers C arried O ne M llc .
P a ssen ger R e v e n u e _________
P a ssen ger S erv ice T ra in R e v e n u e ______________________
A v era ges—
P assen gers C arried O ne Mile p er M ile o f R o a d -----------D is ta n ce C arried— M iles-------------------------------------- ----------R e v e n u e p e r P a ssen ger p er M ile— C e n ts---------------- - ­
P a ssen ger S erv ice T ra in R e v e n u e p e r M ile o f R o a d .
P a ss cn g cr S erv ice T ra in R e v e n u e per T ra in M l l e . - .

8 ,2 7 0 ,5 1 4

8 ,1 9 3 ,2 1 6

77,298

8 08 ,617

81 0 ,6 9 9

2,082

.2568

9 ,0 79,131

9 ,0 0 3 ,9 1 5

75,216

.8351

99,502
1.2027
7 ,1 9 5 ,3 8 0

8 0 ,5 4 5
0.9831
6 ,9 5 6 ,9 6 6

4 9 0 ,3 9 3 ,9 2 6
$10 ,9 7 7 ,9 4 8 22

4 9 3 ,0 0 9 ,7 4 5
$ 1 1 ,1 8 9 ,5 5 3 26

1 3 ,552,352 90

13 ,4 8 7 ,9 2 4 22

72,032
08.154
2.239
$1,990 66
1.493

7 4 ,7 6 5
70.866
2.270
$ 2 ,045 45
1.498

23.5359
18,957
24.5246
3.4271
238 ,420
D eer ease.
.5306
2 ,6 1 5 ,8 1 9
1.8911
$ 21 1,60 5 04
I n c r ease.
.4777
6 4 ,428 68
D eer ease.
3 .6555
2,733
3 .8269
2.712
1.3656
.031
2.6786
$54 79
.3338
.005

T O T A L T R A F F IC —
R e v e n u e T ra in M iles—
F r e i g h t ____________
P a ssen ger
M ix e d ___________
S p ecia l S e r v ic e .
T ota l
R e v e n u e fro m T r a n s p o rta tio n .
O p e r a tin g E x p e n s e s ---------------N e t R e v e n u e fro m T r a n s p o rta tio n . __
R e v e n u e o th e r th a n T r a n s p o rta tio n .
N e t O p era tin g R e v e n u e . . - ....................

8 ,8 3 4 ,8 5 2

9 ,3 2 0 ,9 5 3

486,101

8 ,2 7 0 ,5 1 4

8 ,1 9 3 ,2 1 6

7 7,298

8 08 ,617
12,147

81 0 ,6 9 9
15,691

2,0 8 2
3,5 4 4

5.2151
ease.
.9434
ease.
.2568
22.5862

1 7 ,9 2 0 ,1 3 0

18 ,3 4 0 ,5 5 9

4 1 4 ,4 2 9

2 .2 5 9 6

$ 5 3 ,460 ,46 1 98
3 2 ,5 5 3 ,4 8 7 22

$ 5 4 ,2 1 2 ,0 7 2 25
3 6 .1 4 6 ,2 3 6 05

2 0 ,9 0 6 ,9 7 4 76
226 ,982 49
2 1 ,1 3 3 ,9 5 7 25

1 8 ,0 6 5 ,8 3 6 20
2 1 7 ,5 6 0 46
1 8 ,2 8 3 ,3 9 6 66

A v era ges—
.
_
............
R e v e n u e fro m T r a n sp o rta tio n per T ra in M ile .

2.982

2.956

O p e r a tin g E x p en ses p e r T ra in M ile -------------------

1.816

1.971

N e t R e v e n u e fro m T r a n sp o rta tio n p e r T ra in M ile .
R e v e n u e O th er th an T ra n sp o rta tio n p e r T ra in M ile .
N e t O p era tin g R e v e n u e per T rain M il e ........................

1.166
.013
1.179

.985
.012
.997




1.3864
$75 1 ,6 1 0 27
9 .9395
3 ,5 9 2 ,7 4 8 83
I n c r ease.
15.7266
2 ,8 4 1 ,1 3 8 56
4 .3308
9,422 03
15.5910
2 ,8 5 0 ,5 6 0 59
.8796
.026
D eer ease.
7 .8640
.155
In cr ease.
1 8.3756
.181
8 .3 3 3 3
.001
.182
18 .2 5 4 8

C O N D E N S E D G E N E R A L B A L A N C E S H E E T . J U N E 30 1009.
R ailw ay P ro p e r ty .
Property owned b y the Great Northern R y . C o.:
Cost ot R oad_______________________________ $249,084,268 96
Cost of Equipm ent________________________
51,361,953 89
Cost of Elevators .................................
2 ,004,157 23
Total__________________________________________________ . . . . $303 ,35 0,38 0
Property of the Minneapolis Western R y . C o., the entire
Capital Stock of which Is owned by the Great Northern
R y . C o.:
.
Cost of R oad_________
$739,850 10
Cost of Equipm ent_______________________
12,317 38
T otal_____________________________________ 77777- - ________
752,167
Investm ents In Other Railways whose lines form a part of
the Great Northern System , represented by Cost of
their Capital Stock, Bonds, if any, and amounts ad­
vanced for Construction purposes:
$40 0,00 0 00
Duluth Terminal Railway C o____________
Iowa & Great Northern R y . (owning the
entire Capital Stock of the Union Ter­
1,69 6 ,1 8 9 92
minal Co. of Sioux City, X a .) --------------3 ,1 5 2 ,1 2 0 16
Midland R y . Co. of M anitoba-----------------Brandon Saskatchewan
& H udson’s
2 ,1 0 0 ,0 0 0 00
Bay R y. C o __________________________ _
2,100,000
4' ,1 6 9‘,3 9 3 32
- Crow’s Nest Southern R y . C o-----------------2,07 1 ,9 3 2 96
Nelson & Fort Sheppard R y . Co--------------304,851 23
Red Mountain R y . C o-----------------------------Vancouver Victoria & Eastern R y . &
'
Navigation C o __________________________
13,903,542 48
271,756 47
New W estm inster Southern R y . C o . .
T otal___________________________________________ 77. 77- 28,069,786
Investm ent In Union Depot and Terminal Companies, repre­
sented by Cost of their Stocks, Bonds and Advances for
Construction purposes:
St. Paul Union bep ot Co........ .......................
$10 3,60 0 00
Minnesota Transfer R y . C o ______________
182 ,386 25
Lake Superior Terminal & Transfer R y.
139 ,800 44
C o ------------------------------------------------------------ --------------------------T o ta l______________________________________ ______ _______
425,786
T o t a l R a ilw a y P r o p e r t y ______________________________ $ 3 3 2 ,5 9 8 ,1 2 0
S ecu rities O wned.
C ost o f Secu rities In han ds o f T ru ste e o f N . P .-G . N . J o in t
C. B . & Q . B on d s (1 ,0 7 6 ,1 3 5 Shares o f C. B . & Q . R R .
C a pital S t o c k , G rea t N orth ern R y . C o . on e -h a lf o w n e r ). . 109 ,1 1 4 ,8 0 9
O th er S ecu rities O w n ed :
S to c k s , n o t In clu d in g S to c k s o f th e R a il­
w a y a n d U n io n D e p o t C om p a n ies a b o v e
lis te d _____________________________________ $ 1 3 ,493 ,37 4 95
B o n d s , n ot In clu d in g B on d s o f th e R a il­
w a y a n d U n io n D e p o t C om pa nies
a b o v e listed :
Issu ed b y C om p a n ies w h ose p ro p e r ­
ties are n ow o w n e d b y th e G reat
N o rth e rn R y . C o. a n d w h ich aro
sh ow n
c o n tr a ,
p a r— $ 2 6 ,3 7 8 ,­
969 70: C o s t ________________________
26 ,6 3 6 ,7 5 3 51
Issu ed b y O th er C om p a n ie s_________
2,524,401 00
T o t a l .................... .......................................................................
4 2 ,6 5 4 ,5 2 9
Other Investm ents.
M iscella n eou s In v e s tm e n ts a n d A d v a n c e s t o o th e r th an
R a ilw a y a n d U n io n D e p o t C om p a n ie s a b o v e n a m e d --------2 6 ,2 0 5 ,1 9 5

C a pital S tock.
A u th o riz e d C a pital S to c k o f th e G reat
N o rth e rn R y . C o ., issu able Jun e 30 1 9 0 9 .$ 2 1 0 ,0 0 0 ,0 0 0 00 •
L ess— H e ld In T r e a s u r y unissu ed as e x ­
p lain ed o n page 1 1 4 5 ......................................
2 9 ,7 5 0 00
08

Issu ed a n d O u tsta n d in g __________________________________ $ 2 0 9 ,9 7 0 ,2 5 0 00
F u n d ed D eb t.
B o n d s assu m ed b y G rea t N o rth e rn R y . C o .$ 1 2 5 ,8 9 7 ,9 0 9 09
M in n eapolis W e ste rn R y . C o .’s B o n d s _____
500 ,000 00

48
T o t a l . . . ................................................................... ......... ................ 1 2 6 ,3 9 7 ,9 0 9 0*
O f this a m o u n t there a re:
.
O u tsta n d in g In th e han ds o f P u b lic , as p e r
sta te m e n t o n n e x t p a g e ------------------------------ $ 1 0 0 ,0 1 8 ,9 3 9 39
H e ld In T re a su ry o f th e G reat N orth ern
2 6 ,3 7 8 ,9 6 9 70
R y . C o . as listed o n p a ge 1 14 5_____________
N . P .- G . N . J o in t C. B . & Q . C ollateral 4 %
B o n d s _____________________________________ $ 2 1 5 ,2 2 7 ,0 0 0 00
L ess N o rth e rn P a cific R y . C o .’s p r o p o r tio n ,
o n e -h a lf
1 0 7 ,6 1 3 ,5 0 0 00
--------------------------- 1 0 7 ,6 1 3 ,5 0 0 00
T o t a l C a p ita liz a tio n _______________________________________ $ 4 4 3 ,9 8 1 ,6 5 9 09
C urrent L ia b ilities.
54

69

A u d ite d V o u ch e rs U n p a id ______________________
$3 ,1 3 8 ,0 1 4 69
U n p a id P a y -R o lls _______________________________
2 ,6 6 3 ,9 9 7 82
U n p a id C o u p o n s, In clu d in g th o se d u e J u ly 1
1909 . . . . _______________
1 ,7 3 3 ,6 0 0 84
U n p a id D iv id e n d s o n G rea t N o rth e rn R y .
S t o c k __________________________________________
2,184 00
M atured S . F . & N . R y . C o .’s D eben tu res
U n p r e s e n t e d __________________________________
1,224 00
T o t a l ________________ ________________________ ______________

79

A c cru e d T a x e s n o t d u e ________________
B o n d In terest A ccru e d n o t d u e ____________
76

7,539,021 35

A ccru ed L ia bilities N ot Yet D u e .
$ 1 ,0 6 0 ,6 3 5 16
238,003 33

T o t a l ........................................................................ ................ ............

1 ,2 9 8 ,6 3 8 49

D eferred L ia b ilities.
B a lan ces d u e

A ffilia te d C o m p a n ie s___________

2 ,6 7 3 ,0 2 5 99

U nexpended B a lan ces in S u n d ry F u n d s.
F u n d s fo r P erm an en t I m p r o v e m e n ts an d
B e t t e r m e n t s ____________
A m o u n t set aside t o c o v e r D e p re cia tio n o f
E q u ip m e n t n o w In s e r v ic e ________________
In su ran ce F u n d s _____________________________
46

$ 5 ,7 6 3 ,3 9 7 97
1 6 ,0 5 1 ,2 1 9 07
510 ,699 14

T o t a l...................... ................ ....................... ......................................

2 2 ,3 3 5 ,3 1 6 18

B a lan ce.
07

T o t a l ........................................... .........................................................$ 5 1 0 ,5 7 2 ,6 5 5 08
C urrent A ssets.
C a s h __________________________________________
$ 9 ,1 4 4 ,1 0 5 12
B ills R e c e iv a b le _____________________________
2 ,8 6 4 ,3 2 8 40
D u e fro m A g e n ts _____________________________
2 ,1 8 8 ,4 6 7 87
D u e fro m U . S . P o s t O ffice D e p a r tm e n t___
141,435 92
D u e fro m U . S . T r a n s p o r t a t io n _____________
130,954 35
D u e fro m C a n adian P o s t O ffice D e p a rtm e n t
2,9 1 6 75
A d v a n c e d C h a rges---------------------------------------68,344 62
D u e fro m O th er C om p a n ies a n d In d iv id u a ls
1 ,5 0 9 ,3 9 5 88
T o t a l _______________________________________________________
1 6 ,0 4 9 ,9 4 8 91
V a lu e o f M aterial a n d F u el on h a n d ---------------------------------------6 ,3 5 4 ,2 1 5 58
T o t a l ------------------------------------------ ----------------------------------------- $53 2,9 7 6 ,8 1 9 57

C ost o f A d d itio n s an d Im p r o v e m e n ts m ade
t o P r o p e r ty o f th e G reat N o rth e rn R y .
C o. an d p aid fo r fro m “ F u n d fo r P e rm a ­
nent Im p ro v e m e n ts an d R e n e w a ls” ______$19 ,9 3 4 ,6 1 3
10
S t. P . M . & M . R y . C on so lid a te d M ortgage
B o n d s , retired since N o v . 1 1907 th ro u gh
op e ra tio n o f S in k in g F u n d ........ ................
7 8,000 00
P ro fit a n d L o s s ______________________________
3 5 ,1 4 6 ,5 4 5 37
T o t a l _______________________________________________________

55 ,1 5 9 ,1 5 8 47

T o t a l _________________________ _________- ..................... ..............$5 3 2 ,9 7 6 ,8 1 9 57

R E S O U R C E S A N D D ISBU R SE M E N TS Y E A R E N D E D JU N E 30 1909.
R ESO URGES.
Cash o n h an d a n d In b a n k s, Ju n e 30 190 8------------------------------ $ 1 1 ,6 8 8 ,3 0 2 20
R eceipts—
N e t C o rp o ra te I n c o m e , as p e r In c o m e A c c o u n t --------------------- 17 ,4 8 7 ,4 3 3 93
F r o m L a k e S u p erior C o ., L t d . [see C h airm an ’s rem a rk s]___
5 ,5 2 5 ,8 6 8 96
S ecurities Issu ed— •
C a pital S t o c k _________________________ _________ _________________
7 ,5 0 0 00
N . P .-G . N . .Joint C. B . & Q . C ollateral 4 p e r c e n t b o n d s,
$ 1,000 00; G . N . R y . C o .’s p r o p o r tio n o n e -h a lf, o r _______
500 00
R eduction in A m ou n t o f B on ds H eld in C o m p a n y ’s T reasu ry— ■
E a stern R y . C o. o f M in n esota, N orth ern D iv is io n , First
M ortg a ge, 4 p e r c e n t B on d s s o ld ____________ $2 ,0 6 3 ,0 0 0 00
DU luth S u p erior & W e s te rn T e rm in al C o.
B on d s su rren d ered In p a rt p a y m e n t fo r
p r o p e r ty p u rch a sed fro m th a t c o m p a n y ____
500 ,000 00
nn
n T
t /n
B ao lla
nncea A
on
Tootw
n B on d npnalr
idl ao ffTf .
453 15
$2,503,453 15
L ess, B on d s a c q u ir e d d u rin g y e a r .
(N o t In clu din g b on d s v a lu ed a t $50 ,000 00
re c e iv e d fr o m L a k e S u p erior C o ., L t d . ) . .

1 00
2 ,5 6 3 ,4 5 2 15

Current L ia b ilities Increased—
U n paid V ou ch ers ________
u n p a id P a y R o lls ________________________________
U n p aid C o u p o n s _________________________________
U n paid D iv i d e n d s ______________________________

$182,941
239 ,160
72,253
2,184

Current A ssets D ecreased—
Bills R e c e i v a b l e _________________________________
D u e fro m U . S. P o s t O ffice D e p t _______________
D u e fro m O th er C om p a n ies a n d I n d iv id u a ls ..

$575,571 87
218 ,645 78
9 28 ,497 60

82
70
61
00

49 6 ,5 4 0 13

4 03 ,079 11

N et A m o u n t __________________________ ______________ _________
V a lu e o f M a teria l, F u el, & c ., on H an d , D ecrea sed ________
S u n d ry R eserve F u n d s Increased—
F u n d fo r P erm a n en t Im p r o v e m e n ts a n d B e tte rm e n ts (n o t
In clu din g a m o u n t tran sferred to F u n d fro m In c o m e o r E x ­
p en d itu res c h a rg ed a gain st F u n d d u rin g year)
$28,483 90
E q u ip m e n t D ep recia tion F u n d s............................. 1,678,771 09
In s u ra n ce F u n d s .............................................................
28,814 77

In cre a se In “ C ost o f R o a d ” -------------------------------------------------- $9,63 4 ,4 9 7 52
C ost o f E q u ip m e n t______________________________ $1,217,014 60
L ess, C ost o f E q u ip m e n t o u t o f
s e r v ic e _________________________ $908,132 48
A n d a d ju stm e n ts In a cco u n ts
cau sed b y transfers b e tw e e n
11,572 13 919,704 61
c la s s e s _____________ ___________
In crea se In “ C ost o f E q u ip m e n t” _____________________
C ost o f A d d itio n s to a n d Im p r o v e m e n ts a t S u p e rio r, W ls.
E le v a to rs __________________________ ______ ___________________

2 97 ,309 99
233,396 06

T o ta l E x p e n d itu re s fo r R a ilw a y P r o p e r ty O w n e d -------------$ 10 ,165 ,20 3 57
Investm ent in Controlled C om p a n ies, W h o se L in e s F o rm a
Part o f the R ailw ay S ystem , Increased—
„
C o n tro lle d C anadian C o m p a n ie s________________ $ 2 ,7 5 6 ,7 1 0 2 o
L ess, D ecrease In a m o u n t In vested In A m e rica n
„„ „„
C om pa n ies ................... ......................... ...................
7 1 ,1 6 6 03
N et A m o u n t
. .
_________________________________
Investm ent in U nion D ep ot and T erm in al C om pa n ies I n ­
creased—
M in n esota T ran sfer R y . C o _____________________
$290 54
L a k e S u p erior T e rm in al & T ra n sfe r R y . C o . .
6 5,267 12

2,685,544 22

65,557 66

$ 1 ,7 2 2 ,7 1 5 25
L ess, In crease In A m o u n ts :
D u e fro m A g en ts ______________ $376,101 11
D u e from C anadian P . O . D e p t .
830 41
D u e fo r U . S . T r a n s p o r t a t io n ..
15,153 31
A d v a n c e d C h arges_____ ___________
10,994 28

D IS B U R S E M E N T S .
E xp en d ed fo r R ailw ay P ro p erty —
C ost o f C o n s t r u c t io n _________ ______ ___________ $5,06 4 ,1 4 8 97
C ost o f R o a d P u rch a sed fro m D . S. & W . T . C o .
771,091 17
C ost o f A d d itio n s an d B e tte rm e n ts____________ 3 ,7 9 9 ,2 5 7 38

1 ,3 19,636 14
1 ,8 65,364 94

S ecurities A cqu ired —
H a lf Interest in 5 shares o f C. B . & Q . R R . C o . S to ck d e ­
p o s ite d w ith T ru ste e o f N . P .- G . N . J o in t C . I). & Q .
C ollateral 4 p e r ce n t B o n d s _________________________________
S to ck s o f S u n d ry C om p a n ies o th e r th an C o n tro lle d C o m p a ­
nies o r U nion D e p o t an d T e rm in al C o m p a n ie s____________
(N o t Inclu din g s to ck s v a lu e d a t $ 2 ,3 6 7 ,7 0 5 00 re c e iv e d
fro m L ake S u p erior C o ., L td .)
M iscellan eou s Investm ents and A d vances M a d e .................
A ccru ed L iabilities N ot D u e , D ecreased—
$26 ,670 00
B o n d In terest A c c r u e d , n o t d u e ______________
R e n ta ls A c c r u e d , n o t d u e ........................ ................
10,000 00

500 00
769 ,828 99
1,064,403 57

$36,670 00
L ess, In crease In a m o u n t o f A c c r u e d T a x e s ,
n o t d u e .................................. ......................... ..............

23,136 65

1 1 ,170 94

13,533 35
N et D e cre a se_______________________________________________
S u n d ry P a ym en ts—
D i v i d e n d s _____ ______ ___________________________________ ______ - 14 ,697,473 00
R e d u c tio n s In B alan ces d u e A ffilia te d C o m p a n ie s — .......... - 4 ,095,689 67
144,105 12
Cash o n hand an d In ban ks Ju n e 30 1909 _________ _______ 9,

T o t a l . . . ................................................................................ - ...................$42 ,7 0 1 ,8 3 9 15

T o t a l _______________________________________ ___________________ $ 42 ,701 ,83 9 15

1 ,7 3 6 ,0 6 9 76
P r o fit and Loss—
N et C red it d u r in g y e a r .




S T A T E M E N T OF B O N D S A N D ST O C K S O U T S T A N D IN G IN T H E
H A N D S OF T H E P U B L IC FO R W H IC H T H E G R E A T N O R ­
T H E R N R A I L W A Y C O M P A N Y IS R E S P O N S IB L E ,
D IR E C T L Y O R U N D E R G U A R A N I Y .
Annual
BONDS.
i n H ands of
I n H an d s of
Charges r a i d
A ssu m ed by Great N o r P u blic.
P u b lic .
1908-1909.
th
em
R
ailw
ay
C
o
.
D
u
e
.
July
1
1909.
J u ly 1 190 8.
St. P . M . & M . R y . C o .—
$281,871 14
$3,368,000 00
$5,660,000 00 Second M tge., 6 % _ -1909
216,158 45
3.03 5 .0 0 0 00
-Dakota E x t., 6 % - . 1 9 1 0
4 ,2 2- 2- ,0—
0 0 00
8 00 ,640 00
13.344.000 00
1 3 .3 4 4 .0 0 0 00 Cons. M tge., 6 % -----1933
9 46 ,975 82
21.220.000
00
Cons.
M
tge.,
4
H
%
-1
9
3
3
2 0 .3 6 2 .0 0 0 00
35,983 86
2.621.000 00
Cons. M tge., 4 % _ ._ 1 9 3 3
40 7 ,4 0 0 00
00
i oil 86,'ooo’ 66 Montana E x t., 4 % .1 9 3 3 10,185,000
7 75 ,757 57
19,393,939
39
„
Pacific
E
x
t.,
4
%
—
1940
19,393,939 39
E a stern R y . o f M i n n .—
73.000 00 First D lv. 1st Mtge.
3,0 0 0 00
5 % (M atured)___1908
7 .562.000 00 Northern D iv. 1st
32 0 ,2 5 9 57
9 .6 9 5 .0 0 0 00
•
Mtge. 4 % ________ 1948
M on ta n a Central R y . C o .—
36 0 .0 0 0 00
6 .0 0 0 .
000 00 First M tge., 6 % . . .1 9 3 7,
200.000 00
4 ,0 0 0 ,0 0 0 00
4 .0 0 0 .
000 00 First M tge., 5?,',— 1937
W illm ar & S io u x F a lls
R y . C o .—
1 81 ,250 00
3 .6 2 5 .0 0 0 00
3 .6 2 5 .0 0 0 00 First M tge., 5 % _ ._ 1 9 3 8
M in n e a p . U nion R y . C o .—
129 ,000 00
2 .1 5 0 .0 0 0 00
2 .150.000 00 First M tge., 6 ? ,',-.-1 9 2 2
3 2,500 00
650 .000 00
650.000 00 First M tge., 5 % . . . 1922
S p o k . F a lls & N o r. R y . C o .—
13,740 00
229 .000 00
229.000 00 First M tge.. 6 % . - . 1 9 3 9

6 000,000 00

T o ta l A m t o f B on ds
A ssu m e d b y G rea t
N orth ern R y . C o ________ $99 ,518 ,93 9 39
P rin cip a l and Interest
Guaranteed by Great
N orthern R ailw ay C o.
M in n e a p . W est. R y C o .—
_
5 00 ,000 00 First M tg e ., 5 % . - . 1 9 1 1
oOO.OOO 00
$ 9 7 ,9 5 5 ,0 3 9 39 T o ta l B o n d s o n R a ilw a y
P r o p e r ty O u tsta n d in g In
H an d s o f P u b l i c ............... $10 0,01 8,9 39 39

I n H ands o f
P u b lic.
J u ly 1 1908.
$97,955 ,939 39

STOCK.
A ssu m ed b y Great N orth•
ern R ailw ay C o .

In H ands o f
P u b lic.
J u ly 1 1909.

Annual
Charges P a id
190 8-0 9.

Brought forward-----------$100,018,939 39

$ 4 ,726.536 41

209 ,9 6 2 ,7 5 0 00 Issu ed b y G rea t N o rth e rn
R a ilw a y C o ......................... 2 0 9 ,9 7 0 ,2 5 0 00

__
14.69 7 ,4 7 3 00

$30 7,9 1 8 ,6 8 9 39 T o t a l B o n d s a n d S t o c k s . .$ 3 0 9 ,9 8 9 ,1 8 9 39 $ 1 9 ,4 2 4 ,0 0 9 41
I n a d d itio n to th e b o n d s a b o v e lis te d , th e G re a t N o rth e rn an d N orth ern
P a cific C om p a n ie s h a v e Issued th e ir jo in t C . B . & Q . c o lla te ra l 4 p er cen t
b o n d s t o th e a m o u n t o f $ 2 1 5 ,2 2 7 ,0 0 0 00 se cu re d b y d e p o s it w ith th e
S ta n d a rd T ru st C o . o f N ew Y o r k , as T r u s t e e ,o f 1 ,0 7 6 ,1 3 5 shares o f the
C a p ita l S to c k o f th e C h icago B u rlin g to n & Q u in cy R a ilr o a d C o m p a n y .
T o t a l B o n d s an d S to c k , as a b o v e -------------------------------------------$3 0 9 ,9 8 9 ,1 8 9 39
M ileage o f T ra ck s In S y s te m , in clu d in g s e c o n d , th ird ,
fo u r th , fifth a n d s ix th tra ck s , c o v e r e d b y a b o v e ca p ita li­
z a tio n ___________________________ ____________________________
7.039 73
B o n d s an d S to c k p e r m ile o f M ain T r a c k —
B o n d s ............... ................................................................$ 14 ,207 78

St0Cl£---- ------------------------------- - ^ 8 2 6

46

44 t s 4 2 4

M ileage o f M ain T ra ck s c o v e r e d b y b o n d s In th e han ds o f
th e p u b lic ___________________________________________________
B o n d e d D e b t o u ts ta n d in g in th e han ds o f th e p u b lic , p e r
M ile o f M ain T r a c k c o v e r e d th e r e b y _______________________

4,9 5 0 13
_______
2 0 .205 32

S IN K IN G F U N D S T . P A U L M IN N E A P O L IS & M A N IT O B A R A I L W A Y
C O M P A N Y ’S C O N S O L I D A T E D M O R T G A G E B O N D S .
Fiscal Year Ended June 30 1909.

$4 ,7 0 1 ,5 3 6 41

25,000 00

Credits—
B y B a la n ce t o c r e d it o f S in k in g F u n d , as p e r p a ge 44 o f la s t
y e a r ’s r e p o r t ______________________________________________________ $41 ,460 73
F r o m L a n d D e p a r tm e n t, as p e r L a n d C o m m issio n e r’s r e p o r t,
page 46 [see p a m p h le t r e p o r t]...................... ............................. ......... 172,628 36
R e v e n u e T o d d C o u n ty L a n d s ................................ ................ ...................
77 17
T o t a l a p p lic a b le f o r r e d e m p tio n o f b o n d s ---------------------------------$21 4,18 6 26

$4 ,7 2 6 ,5 3 6 41

CHICAGO BURLINGTON & QUINCY RAILROAD COMPANY.
F IF T Y - F IF T H A N N U A L R E P O R T — F O R T H E Y E A R E N D E D JU N E 30 1909.
Chicago, July 1 1909.
To the Stockholders of the Chicago Burlington & Quincy Rail­
road Company:
.
Following the practice of previous years, the figures given
below cover both the operated and controlled roads; whereas
the tables furnished by the General Auditor and made part
of this report are taken from the books of the Chicago
Burlington & Quincy Railroad Company and do not include
the results of the operations of the controlled roads.
R E V E N U E AN D E X PE N S E S A L L ROADS O P E R A T E D
A N D C O N TR O LLE D Y E A R S E N D E D JU NE 30.
1909
$ 5 2 ,7 6 8 ,7 0 3
19,797,151
2 ,3 4 1 ,0 2 7
2 , 040,646
2 ,4 6 0 ,7 6 8

O P E R A T IN G R E V E N U E .
1908.
4 8 --------------------F r e i g h t ---------------------- $ 5 3 ,0 3 6 ,3 0 5 84
8 4 -------------------------- P a ssen ger --------------------------- * § ■•via'iSo'dR
2 1 -------------------------------M a l l --------------------------------2 ,3 3 8 ,1 7 9 48
3 3 ----------------------------E x press
l ,9 2 o ,6 0 6 ..3
5 4 ________________ M is c e lla n e o u s ------------------------2 ,3 3 9 ,7 3 3 17
. T o t a l _____________________ $ 78 ,459 ,06 3
O P E R A T IN G E X P E N S E S .
3 8 . ..M a in t e n a n c e o f W a y an d S t r u c t u r e s ...$ 1 4 ,6 0 3 ,4 7 6
8 0 ________ M aintenance o f E q u ip m e n t------------- 12,.)01,460
38
___________T r a ffic E x p e n s e s----------------------1 ,555,180
99 ................. T ra n sp o rta tio n E x p e n s e s ----------------- 2 5 ,5 0 7 ,2 7 0
85 _____________ G eneral E x p e n s e s----------------------1,81 7 ,8 3 6

$ 7 9 ,4 1 4 ,3 5 7 4 0 -

$133 , 2 0 3 ,2 14
3 ,5 1 0 ,2 6 5
13

1 594 996
2 4 ’ 027 015
21121206

$ 5 5 ,3 4 7 ,7 5 9 4 0 .

62
62
87
30
80
11

. T o t a l _____________________ $ 5 5 ,985 ,22 4 76

$22 ,4 7 3 ,8 3 8
$24 ,0 6 0 ,5 9 8 0 0 .................... N e t O p e ra tin g R e v e n u e -------O U T S ID E O P E R A T IO N S — N E T .
$1,545
$365 5 2 . . (earnings) R esta u ra n t S e rv ice ( e a r n in g s )..
3 8 ,5 6 5
8,3 8 2 70
.(lo s s ) S to c k Y a rd s (e a rn in g s )----------2 4 ,910
150 ,389 5 3 _________ (loss) D in in g Cars (lo s s )................ ..
$ 15 8,40 0 7 1 ____________ (loss) T o ta l (e a rn in g s )-------------------$2 ,5 4 6 ,9 2 7 8 4 ___________________ T a x e s

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

86
58
78
44

$15,194 02
$2,484,031 28

$21 361 263 45 ____________ O p eratin g I n c o m e ------------------------- $20 ,0 0 5 ,0 0 2 50
’
’
R en ts b a la n ce , In com e fro m securities o w n ed
D r.$471 ,79 2 0 7 _______and o th e r I n c o m e a n d I n te r e s t----------- D r.$246,612 39

C harges.
« 7 H75 r,07 la
____ In terest on B o n d s ------------------------$ 6 ,0 6 6 ,8 9 0 52
6 75 :828 5 6 ' . : : : : ___________S in kin g F u n d ................. ..............
676,011 46
$8 551 335 72
____ T o ta l C h a r g e s .. . --------- ------------$7,642,901 98
* 2 ,2 6 8 ,8 1 6 0 3 . : : : : : B etterm en ts ch arged to I n c o m e ----------- 3 ,2 2 5 ,0 9 3 57
T o t a l _____________ _________ $ 1 0 ,8 6 8 ,8 9 5 55

$10 069 319 63
N et C orp orate I n c o m e -----------------$8 ,8 8 9 ,4 9 4 56
s : 8 6 7 : i 28 o o : : : : : : : : : ______D iv id e n d s---------------------------------- 8.867,12s 00
$1 ,2 0 2 ,1 9 1 6 3 ____________________ S u r p lu s -------- -----------------------

$22 ,366 56

S T A TIS TIC S OF F R E IG H T A N D PA SSE N G E R T R A F F IC
ON ROADS O P E R A T E D A N D C O N TR O LLE D
F O R Y E A R S E N D E D JUNE 30.

In crea se ( + ) or
D ecrease (— ).
— 105,572
+ 44,372

D E S C R IP T IO N —
F reigh t T ra ffic.
M ileage o f F reigh t T r a i n s ..
M ileage o f M ixed T r a i n s .. .

1909.
16,11 8 ,1 7 0
1 ,3 7 3 ,1 4 5

T o t a l -------------------------- -- - M ileage o f L o a d e d F reigh t
Cars
________________
M lleago o f E m p ty F reigh t
C a r s ._____________________

17,40 1 ,3 1 5

1 7 ,552,515

— 6 1 ,2 0 0

3 9 1 ,0 2 5 ,6 3 6

3 7 9 ,465 ,22 3

+ 11,56 0 ,4 1 3

1 6 3 ,971 ,60 7

150,219 ,44 7

+ 4 ,7 5 2 ,1 6 0

Total Car M ile a g e ____

554,997,243

538,684,670

+ 16,312,573

T o n s o f R ev en u e F reigh t
C a r r ie d -------------- - - - - - c T o n s o f C o m p a n y I-rcIght
C a r r ie d __________________
T o t a l ................. . . . .........




P a ssen ger T ra ffic.
M ileage o f P a ssen ger T rain s;
M ileage o f P a ssen ger C a rs .
N u m b e r o f P assen gers Car­
ried ______________________
P assen gers
C arried
O ne
E arn ings

1008.
16,223,742
1,328,773

2 5 ,439,521

24,064,341

+ 4 7 5 ,1 8 0

7 ,3 4 8 ,3 0 5

7 ,4 1 5 ,1 7 9

— 66,874

3 2 ,7 8 7 ,8 2 6

3 2 ,3 7 9 .5 2 0

+ 4 0 8 ,3 0 6

of

P assen ger

+ 326 ,293
+ 4 ,0 1 5 ,2 8 0

15,555,738
92,655,261

15,882,031
96,670,541
20 ,6 3 1 ,6 7 7

19,21 4 .2 3 9

+ 1 ,4 1 7 ,4 3 8

1 ,0 6 6 ,4 7 4 ,0 0 4

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

+ 5 0 ,0 1 9 ,7 6 9

$ 2 4 ,8 1 1 ,9 7 3 68 $ 2 3 ,6 7 4 ,1 3 0 38

+ $13 7,84 3 30

P assen ger
E arn ings
per
T ra in M ile .
E arn lngs per P a ssen ger per
M ile ..........................................

$1 56

$1 52

+ $0.04

$0.0186

$0.0185

+ $0.0001

Total T rain s.
M ileage o f F reigh t a n d P a s­
3 3 ,1 0 8 ,2 5 3
3 3 ,3 7 3 ,3 4 6
senger T r a in s -----------------E arn ings fro m F reigh t an d1
P a ssen ger T r a in s ------------ $77 ,5 8 0 ,7 3 7 16 $76 ,7 1 0 ,4 3 6 22
$2 32
$2 32
E arn ings per T ra in per Mile)
$1 69
$1 66
E xpen ses p er T ra in p e r Mile3
N et T r a ffic E arn ings p er
$0 63
$0 66
T rain p e r Mile

+ $ 8 7 0,30 0 94

+ 265 ,093

— $ 0 '0 3
+ $0 03

C A P IT A L STOCK.
The capital stock of the Chicago Burlington & Quincy
Railroad Company at the date of the last report
_____________________________________________ _____________..$110,839,100 oo

There have been no changes during the year.

$ 1 9 ,7 5 8 ,3 9 0 11

$20 ,8 8 9 ,4 7 1 38

$ 1 0 ,8 2 0 ,1 5 1 7 5 .

In crea se ( + ) or
D E S C R IP T IO N —
D ecrease (— ).
1909.
Freight T ra ffic.
T o n s o f R e v e n u e F reigh t
+ 2 6 ,5 0 0 ,9 0 7
6 ,6 5 5 ,8 8 7 ,4 1 9
O ne Mile . . ___________ 0 ,6 8 2 ,3 8 8 ,3 2 6
+ 6 2 ,7 5 8 ,3 1 9
7,7 9 7 ,6 3 8 ,0 6 1
T o t a l T o n s O ne M ile _______ 7 ,8 6 0 ,3 9 6 ,3 8 0
E arn ings fro m F reigh t
■r—$26 7,54 2 36
T r a f f i c __________________ $ 5 2 ,768 ,76 3 48 $ 5 3 ,0 3 6 ,3 0 5 84
All Cars H a u le d p e r F reigh t
+ 1.04
3
0
.6
9
31.73
T ra in M ile_______________
T o n s R e v e n u e F reigh t
+ 2 .8 4
3 7 9 .2 0
382 .04
H au led p er T r a in ---------T o n s R e v e n u e F reigh t
— .45
17.54
17.09
H a u le d p e r L o a d e d C a r.
E arn ings p e r F re ig h t T rain
$3 02
$3 02
M ile______________________
— $ 0.0001
$0.0080
$0.0079
E arn ings p e r T o n M ile-------

F U N D E D D E B T.
The Funded Debt of the Chicago Burlington & Quincy
Railroad Company at the date of the last report ^ ^ ^ ^
CThe additions during the year were as follows:
C. I). & Q . G eneral M ortgage
4 p er ce n t B o n d s o f 1958
___
sold _________________ _______. $ 20 , 000,000 00
Issu ed u n d e r circu lar A p r. 20
1909 In e x ch a n g e fo r B on d s
ca n ce le d an d r e tir e d — . . .
3,668,000 00
Issu ed u n d er p ro v is io n o f G en­
eral M ortg age fo r b o n d s
ca n ce le d
an d
retired
th ro u g h S in k in g F u n d o p ___
ora tio n s sin ce M arch 2 1908
854,000 ° ° t „ 1

00

The reductions dur­
ing the year were:
Purchased for Sink­
ing Funds and canceled:
C

B & Q . I o w a D iv is io n 4 %
B o n d s o f 1919— - - - - - - - C. B . & Q . Io w a D iv isio n 5 %
B on ds o f 1919--------------------C. B . & Q . N ebrask a E x te n sio n
4 % B o n d s o f 1927--------------T a rk lo V a lle y R R . 7 % B o n d s
o f 1920 ______________________
N o d a w a y V a lle y
R R . 7%
B onds
of
1920-------------

5221.000 00
10,000 00
293,000 00
.

11,000 00
10,000 00
$545,000 00

...

i i

; 1

Brought f o r w a r d . ............

$545,000 00 $24,522,000 00 $183,064,000 00

Exchanged for
C. B. & Q. Gen­
eral M o r t g a g e
Bonds of 1958 and
canceled:
C. B . & Q . plain 5 % B o n d s o l
1 9 1 3 . . - _________
$63 ,000 00
C. B . Sc Q . I o w a D iv is io n 4 %
658 ,000 00
B o n d s o f 19 1 9 ............... ............
C . B . & Q . S in k in g F u n d 4 %
607 ,000 00
B on d s o f 192 1________ ______
C. B . & Q . N eb ra sk a E x ten sio n
186,000 00
4 % B on d s o f 1927----------------C. B . & Q . D e n v e r E x ten sion
480 ,0 0 0 00
4 % B on d s o f 192 2___________
B . Sc M . In N e b . C on s olid a te d
M tg e. 6 % B on d s o f 1 9 1 8 . . .
127 ,000 00
B . & M . In N eb . S in k in g F u n d
4 % B on d s o f 1910....................
7,000 00
R e p u b lic a n V a lle y R R . 6 %
B on d s o f 1919 ...........................
144,000 00
H a n n ib a l Sc S t. J os ep h R R .
1,0 4 4 ,0 0 0 00
6 % B o n d s o f 1 9 1 1 . . .......... ..
T a rk io V a lle y R R . 7 % B on d s
62,0 0 0 00
o f 19 2 0 ____________ - ................
N odaw ay
V a lle y
RR.
7%
B on d s o f 1 92 0-------------------------4 3 ,0 0 0
L in c o ln & N orth w estern R R .
7 % B on d s o f 191 0....................
2 47 ,000 00

00

B y order of the Board of Directors.
GEORGE

$ 3 ,6 6 8 ,0 0 0 00
------------------------$ 4 ,2 1 3 ,0 0 0 00
-------------------------- $ 2 0 ,3 0 9 ,0 0 0 00
T o t a l F u n d e d D e b t o f th e C. B . & Q . R R . C o . on
Ju n e 30 1 9 0 9 .......................... .......................................................$ 2 0 3 ,3 7 3 ,0 0 0 00
[F o r d e ta ile d s t a t e m e n t s o f w h ic h se e p a g e s 2 0 a n d 2 1 o f
p a m p h l e t r e p o r t .]
C O N S T R U C T IO N .
E x p e n d itu r e s fo r C o n s tr u c tio n d u r in g th e y e a r e n d e d
J u n e 3 0 1 9 0 9 o n th e C h ic a g o B u r lin g t o n & Q u in c y R a ilr o a d
an d B ran ch es:
O n L in e s a n d B r a n c h e s E a s t o f th e

The number of revenue tons moved one mile increased
0.40 per cent, as compared with 1907-08, and Freight Earn­
ings decreased 0.50 per cent. Passengers carried one mile
increased 4.92 per cent and Passenger Earnings increased
5.20 per cent. The percentage of Operating Expenses to
Gross Earnings decreased 1.67 per cent.
The total amount at credit of Sinking Funds on June 30
1908 was 829,127,440 95. This amount was increased
during the year by the sum of 81,134,824 52, of which
8675,828 56 was paid directly from the earnings of the year.
The increase during the year of bonds held in the funds
amounted to 8553,800, of which 8545,000 were canceled
and 88,800 remain uncanceled in Sinking Fund Investments.
In December 1908 a majority of the stock of the Colorado
& Southern Railway was purchased and its cost will be found
stated in the accounts. There seems to be reason to expect
that the purchase will prove beneficial to both interests.
For further details relating to the affairs of the company,
reference is made to the report of the General Auditor and
the following statements.

M is s o u r i R i v e r :

New Line— Herrin, 111., to Metropolis, 111__________ $35,478 34
New Second Track— Curzons, M o., to Napier, M o .. 10,513 34
Chicago, 111., land for additional facilities__________ 24,300 00
Clyde, III., land for additional yard facilities--------------33,116 15
Herrin, 111., additional tracks------------------------------------ 37,422 10
Kansas City, M o., land for additional facilities_____ 21,074 24
Peoria, 111., land for additional facilities___________ 55,141 92
Miscellaneous construction___________________________ 15,427 59
-----------------Less Credits:
Tracks taken up or sold____________________________$67,442 78
Land sold____________________________________________ 62,536 44
Buildings torn down anti not replaced___________ 28,364 00
------------------

$232,473 68

B.

H A R R IS ,

President.

INCO M E ACCOUNT.
D eb it—
O p e ra tin g E x p e n s e s ___________________________ $5 4 ,5 6 0 ,0 9 7 77
2 ,5 1 7 ,0 1 7 52
T a x e s .......... ............
-------------------------- $ 5 7 ,0 7 8 ,0 1 5
B e t t e r m e n t s ...................................................................................... .......
2 ,2 3 7 ,0 8 0
O u tsk le O p e ra tio n s an d R e n ts B a la n ce , an d M iscella n eou s
In c o m e ___________________________________________ _______
612 ,107
In te r e s t o n B on ds o f C. B . Sc, Q . R R . an d c o n tr o lle d c o m ­
7 ,8 7 5 ,5 0 7
panies __________
Cash Bald to S in k in g F u n ds:
C. B. & Q . 4 and 5 p er ce n t B on d s o f 1 9 1 0 .
$23 2,53 0 00
C. B. & Q .4 p e r c e n t B o n d s o f 1021..........
4 3 ,000 00
C. B . & Q . 4 p e r c e n t B on d s o f 1022______
7 9 ,6 8 0 00
C. B . & Q . 4 p er c e n t B on ds o f 192 7 ______
203 ,618 56
L in co ln Sc N o rth w e ste rn R R . 7 p er c e n t
B on ds o f 1010_____
6,000 00
N o d a w a y V a lle y R R . 7 p er c e n t B on d s
o f 1 9 2 0 ...............................................................
10,000 00
T a rk io V a lle y R R . 7 p e r c e n t B o n d s o f
1920 ..................- ----------------------------------------11,000 00
------------------------675 ,828
D iv id e n d s:
O c to b e r 1 1908.......................
$2,2 1 6 ,7 8 2 00
J a n u a ry 1 1909..................................................
2 .216,782 00
A p ril 1 1909..................
2 ,216,782 00
J u ly 1 1909..........................
2,2 1 6 ,7 8 2 00
------------------------8 ,8 6 7 ,1 2 8
B a la n ce a t c r e d it o f I n c o m e A c c o u n t .........................
1,266,871

20
86
74
16

56

00
75

158,343 22

$7 8 ,6 1 2 ,6 2 9 36

$74,130 46

Credit—
F re ig h t R e v e n u e _______________________________ $ 52 ,240 ,92 0 60
P a ssen ger R e v e n u e ____________________________ 19,5 8 5 ,3 0 5 02
O th er O p e ra tin g R e v e n u e _____________________
6,7 8 6 ,4 0 3 74
-------------------------- $ 78 ,612 ,62 9 36

O n L i n e s a n d B r a n c h e s W e s t o f t h e M is s o u r i R i v e r :
Grand Island, N eb ., land for new station bu ildin g..$ 1 8 ,7 3 5 00
Lincoln, N eb ., land for additional facilities_________ 96,763 05
Orleans, N eb ., track to Silica P its___________________ 22,168 40
Omaha, N eb ., land for additional facilities------------- 79,850 00
New side and passing tracks_________________________ 49,792 78
New fencing___________________________________________ 21,950 54
Miscellaneous construction___________________________ 17,473 25
-----------------306,733 02
T o ta l________________________________________________________________
Add balance at Debit of Premium and Discount on Bonds
sold and purchased_________________________________________________

$380,863 48

Total amount charged to Construction A ccount-----------------------Miscellaneous charges to Equipment Account----------------------------

$691,174 78
6,265 31

310,311 30

$ 78 ,612 ,62 9 36
B a lan ce fo r y e a r ___________________________________________________
$1,266,871 75
B a lan ce Jun e 30 1 9 0 8 -.........................................................
3 9 ,4 0 5 ,8 8 9 79
B a la n ce a t c r e d it o f In c o m e A c c o u n t Ju n e 30 190 9_______________ $ 4 0 ,672 ,76 1 54
N o te .— T h e figures In a b o v e table c o v e r the roads a c tu a lly o p e r a te d b y
the C. B . & Q . R R . C o ., w hereas the llgures a t begin n in g o f the r e p o rt
c o v e r also road s c o n tr o lle d th rou gh o w n ersh ip o f s to c k .

G E N E R A L B A L A N C E S H E E T JU N E 30 1909.

A ssets—
$697,440 09
C ost o f R o a d and E q u ip m e n t_____________________________________ $ 3 6 0 ,2 4 5 ,0 5 9 73
C ost o f In v e stm e n ts In C on trolled R o a d s:
Transferred from Investments in Controlled Roads on account
C o lo ra d o Sc S ou th ern R a ilw a y C o ________ $ 1 6 ,4 1 6 ,3 3 7 50
of purchase of Fulton County Narrow Gauge R y -----------------------715,504 41
D a v e n p o r t R o c k Island & N orth w estern
T otal.................................
$1,412,944 50
R y . C o __________________________________
1 ,904,167 24
Q u in cy O m aha Sc K ansas C ity R R . C o ___
3,3 2 2 ,9 1 4 00
1,597,981 39
N arrow G auge R a ilr o a d s ----------------------------E Q U IP M E N T .
-------------------------- 2 3 ,2 4 1 ,4 0 0 13
S u n d ry I n v e s tm e n ts __________________
11,0 7 3 ,1 3 0 05
T ru ste e s o f Sinking F u n d s, s h ow in g the c o s t o f u n ca n ccle d
T h e E q u ip m e n t o f th e C h ic a g o B u r lin g to n
& Q u in c y
securities an d cash aw a itin g In vestm en t held in S inking
R a ilr o a d C o m p a n y o n J u n e 3 0 1 9 0 9 w a s a s fo llo w s :
F u n ds .........
1 8 ,841,722 68
M aterial and S u p p lie s_____________________________________________
5,8 8 2 ,1 9 0 73
Locom otives_______________________________________________________________ 1,703
S u n d ry A v a ila b le S e c u r itie s ______________________________________
1,9 1 2 ,2 0 0 00
Passenger Equipment:
Cash o n h a n d ____________________
1 5 ,064,572 55
Passenger and Combination Cars----------------------------------------------784
$ 4 3 6 ,2 6 0 ,2 7 5 87
Baggage, Mall and Express Cars----------------------------------------------293
Other Passenger Cars____________________________________________
130
L ia bilities—
------------ 1,207
Freight Equipm ent:
C a pital S t o c k .............................................
$11 0 ,8 3 9 ,1 0 0 00
F u n d e d D e b t . ..............................................................................
20 3 ,3 7 3 ,0 0 0 00
Box and Furniture Cars_________________________________________ 26,506
M atu red C ou pon s, n o t p r e s e n te d _________________________________
6 3 ,720 50
Refrigerator Cars_______________________________________________ 1,712
A ccru a ls n o t y e t p a y a b le :
Stock Cars_______________________________________________________ 7,277
In te re st on B o n d s _______________________________________________
3,2 2 1 ,9 1 3 37
Coal Cars_________________________________________________________ 14,858
S in k in g Fu nd P a y m e n ts _______________________________________
289,844 98
Flat Cars_________________________________________________________ 1,282
U n p a id V ou ch ers and P a y -r o lls __________________________________
6 ,110,816 69
Ore Cars__________________________________________________________
72
R e lie f D ep artm en t F u n d __________________________________________
71,186 93
C abooses_________________________________________________________
662
F ire In surance F u n d . . --------------692,048 43
Other Freight Cars______________________________________________
3 ‘1
------------ 52,403
S u n d ry A c c o u n ts B a la n ce ............................
16,476,392 94
R e n e w a l F u n d ............................. — ......................................- ..............
1 0 ,000,000 00
W ork Equipment:
I n c o m e A c c o u n t .............................................. - ................................... ..
40,672,761 54
Steam Shovels____________________________________________________
20
P ro llt and L o s s .....................
14,1 8 7 ,3 2 5 02
Steam Cranes and Derricks_____________________________________
32
S in k in g F u nds, sh o w in g the to ta l o f p a y m e n ts to and a c c r e ­
Other W ork Cars_________________________________________________ 3,351
tion s o f S in k in g F u nds fo r—
------------ 3,403
C. B . & Q . 4 an d 5 p e r c e n t B o n d s o f 1919
.$ 6 ,0 3 7 ,4 1 6 50
(Io w a D iv is io n ).......... .................
Grand Total Cars.................................................................................................. 57,013
C. B . Sc Q . 4 p er c e n t B o n d s o f 192 1 ___________ 2,222,573 21
C. B. & Q . 4 p er ce n t B o n d s o f 1922
(D e n v e r E x te n s io n )................................
4 ,0 2 1 ,5 5 2 84
G EN ER AL R EM AR K S.
C. B . Sc Q . 4 p er c e n t B o n d s o f 1927
(N ebrask a E x te n s io n )............................
5,3 2 0 ,7 0 5 88
T h e l e n g t h o f r o a d o p e r a t e d a n d c o n t r o l le d o n J u n e 3 0 1 9 0 9
B . Sc M. R . R R . In N ebraska 6 p er c e n t
B o n d s o f 191 8............................................................ 8,4 7 3 ,5 0 3 16
w a s 9 , 2 7 9 m i le s , a g a i n s t 9 , 2 8 2 m i le s o n J u n e 3 0 1 9 0 8 a n d t h e
B . Sc M. R . R R . In N ebraska 4 p er ce n t
a v e r a g e fo r th e y e a r 1 9 0 8 -0 9 w a s 9 ,2 8 2 m ile s , a g a in s t a n
B on d s o f 1910.............................................
3 ,218,301 62
R e p u b lic a n V a lle y R R . 6 p er c e n t B o n d s o f
a v e r a g e o f 9 , 2 3 6 m ile s in 1 9 0 7 - 0 8 .
1919 .................................
612 ,683 90
T h e G r o s s E a r n i n g s p e r m i le w e r e 8 8 , 5 5 5 7 4 in 1 9 0 8 - 0 9 ,
L in co ln Sc N orth w estern R R . 7 p e r c e n t
B on ds o f 191 0.......... - ______ ______ ________
292 ,428 36
a g a i n s t 8 8 , 4 9 4 9 2 in
1 9 0 7 -0 8 .
T h e O p e ra tin g E x p e n s e s ,
N o d a w a y V a lle y R R . 7 p er ce n t B on d s o f
i n c l u d i n g T a x e s , p e r m i le in 1 9 0 8 - 0 9 w e r e 8 6 , 2 3 7 3 1 , a g a i n s t
1920 ...........
3 0 ,000 00
8 6 , 3 3 0 5 8 in 1 9 0 7 - 0 8 .
T h e p e rce n ta g e o f O p e r a tin g E x ­
T a rk io V a lle y R R . 7 p er c e n t B o n d s o f
1920 .................... .............................................. ..
3 3 ,0 0 0 00— 3 0 ,2 6 2 ,1 6 5 ’ 47
p e n s e s , i n c l u d i n g T a x e s , t o G r o s s E a r n i n g s in 1 9 0 8 - 0 9 w a s
7 2 .9 0 , a g a in s t 7 4 .5 2

in




1 9 0 7 -0 8 .

$ 4 3 6 ,2 6 0 ,2 7 5 87

NORTHERN PACIFIC RAILWAY COMPANY.
T H IR T E E N T H A N N U A L R E P O R T — F O R T H E F IS C A L Y E A R E N D IN G JU N E 30 1909.
Office of the Northern Pacific Railway Co.
St. Paul, Minnesota,
September 27 1909.
To the Stockholders of the Northern Pacific Railway Company:
The following, being the Thirteenth Annual Report, shows
the result of the operation of your property for the fiscal year
ending June 30 1909.
INCOM E ACCOUNT.
1 90 8.
1909.
R e v e n u e fro m T r a n sp o rta tio n :
$
$
F reig h t _____________________ 4 6 ,4 2 3 ,8 3 6 33 4 7 ,0 7 3 ,3 0 5 13
P a ssen g er................................- .1 8 ,1 3 3 ,2 3 8 52 17,330,608 06
O th er rev en u e fro m trans3 ,0 6 5 ,0 7 6 27 3,41 6 ,1 0 1 72
6 7 ,622,151 12 67 ,8 2 0 ,0 1 4 91
R e v e n u e fro m O p e ra tio n o th e r

+ 35 1 ,0 2 5 45
+ 197,863 79

640 ,732 30

+ 4 2,206 22

6 8 ,2 2 0 ,6 7 7 20 6 8 ,4 6 0 ,7 4 7 21

+ 2 40 ,070 01

1 2 ,0 7 1 46

— 38 72

598,526 08

P er m ile (a v e r a g e )____
O p era tin g E x p en ses:
M a in ten an ce o f w a y

In crea se ( + ) or
D ecrea se (— ) .
$
+ 649,468 80
— 8 02 ,630 46

12,110 18
an d
8 ,7 6 2 ,2 9 7
8 ,5 7 2 ,7 1 0
807 ,849
2 0 ,6 5 9 ,1 1 0
1,038,701

33 7 ,8 4 7 ,0 5 0 35
73 7 ,8 4 5 ,6 8 9 35
919,199 03
40
39 20,305,621 20
1,102,444 72
09

— 915,246
— 7 27 ,027
+ 111,349
— 353,498
+ 03,743

98
38
03
19
63

3 9 ,8 4 0 ,6 8 3 94 3 8 ,0 2 0 ,0 0 4 65 — 1,82 0 ,6 7 9 29
P er m ile (a v e ra g e ).

6,703 94

— 368 37

28,37 9 ,9 9 3 26 30 ,4 4 0 ,7 4 2 56
5,367 52
5,037 87

+ 2,00 0 ,7 4 9 30
+ 329 65

429 ,359 58

— 211 ,566 28

7,072~3T

P er m ile (a v e r a g e )___
O u tsid e O peration s:
S le e p in g , pa rlor, o b s e r v a ­
t io n , din in g a n d ca f
a n d resta u ra n ts-----T a x e s A c c r u e d _________________
P e r m ile (a v e r a g e )___

M A I N T E N A N C E O F E Q U IP M E N T .

The charges for Maintenance of Equipment were $7,­
845,689 35, a decrease of $727,027 38, or 8.48 per cent.
L O C O M O T IV E S .
T o ta l n u m b e r o f lo c o m o tiv e s o n a c t iv e list Ju n e 30 1 9 0 8 ________________1,314
A d d itio n s :
P u rch a se d — P a cific t y p e passenger l o c o m o t iv e s ____________________ 10
A t la n t ic t y p e passen ger lo c o m o t iv e s _________________ 3
—
13
1,327

64 0 ,9 2 5 86

.2 9 ,0 2 0 ,9 1 0
2 ,7 1 7 ,4 8 5
482
.2 6 ,3 0 3 ,4 3 3

12 30 ,8 7 0 ,1 0 2
67 2,547,834
449
39
45 28 ,3 2 2 ,2 6 7

14
67
25
47

+ 1,849,183
— 169,651
— 33
+ 2 ,0 1 8 ,8 3 4

02
00
14
02

O th er In c o m e :
D iv id e n d s and

D e d u c tio n s — S o l d __________________ __________________________________ 3
D is m a n tle d ____________________________________________ 1
—

4

T o ta l n u m b e r o n a c t iv e list J u n e 30 1 90 9_________________ ________ 1,323

In addition to those on the active list there are thirty
locomotives on the superannuated list.
H A U L IN G C A P A C IT Y .

2 ,3 5 5 ,6 7 0 81
889 ,748 10
452,218 91

— 766 ,976 14
+ 36,632 10
+ 3 13 ,838 50

G ross in c o m e _____________ .3
30,417
0 ,4 1 7 ,5 7 6 75 3 2 ,0 1 9 ,9 0 5 29

+ 1,60 2 ,3 2 8 54

The capacity of all engines on the active list as compared
with last year is shown approximately by the following
statement of total weights:

337 ,136 34
6 ,7 7 5 ,0 0 2 50

+ 18,417 96
— 3 2 3 ,9 0 5 00

Total W eight Total W eight
dum ber . on D rivers. o f E n gin es.
1,3 1 4
174,898 ,72 3
2 3 1 ,1 9 6 .4 3 7
13
1 ,7 45,900
2 ,9 2 3 ,6 5 0

3 ,1 0 6 ,8 8 2 75 3 ,2 6 8 ,4 1 6 36
.1 0 ,8 5 0 ,0 0 0 00 14,105,000 00

+ 161,533 61
+ 3 ,2 5 5 ,0 0 0 00

.2 1 ,3 7 4 ,5 0 8 63 2 4 ,4 8 5 ,5 5 5 20

+ 3 ,1 1 1 ,0 4 6 57

3 ,1 2 2 ,0 4 6 95
85 3 ,1 1 5 94
138,380 41

R e n ta ls re c e iv e d .

D e d u c t:
R e n ta ls p a id ------------------------

3 18 ,718 38
7 ,0 9 8 ,9 0 7 50

9 ,0 4 3 ,0 8 8 12

7 ,5 3 4 ,3 5 0 09 — 1,508,713 03

Less a m o u n t a p p ro p r ia te d forr
in su ran ce f u n d _______________ 2 ,7 8 4 ,9 5 0 28
6 ,2 5 8 ,1 1 7 84

— 2 ,7 8 4 ,9 5 0 28
7 ,5 3 4 ,3 5 0 09

+ 1,276,232 25

5 8 .4 0 %
to ta l op e r a tin g r e v e n u e ..
5 5 .5 4 %
. — 2 .8 6 %
R a tio o f ta x e s to t o t f '
cr a tin g r e v e n u e ---------3 .9 8 %
3 .7 2 %
— .2 6 %
N o te .— T h is In com e a c c o u n t , a n d its a n cilla ry sta te m e n ts h e re in , h ave
b een p rep a red in a c c o r d a n c e w ith th e cla ssification s p ro m u lg a te d b y the
In te r -S ta te C om m erce C om m ission as re v ise d to J u ly 1 1908, th e a cco u n ts
fo r the p re v io u s y ea r h a v in g be e n r e - ca st fo r the p u rp o se o f c o m p a riso n .

M ILE A G E O P E R A T E D .
Changes have taken place in the mileage operated during
the year as follows:
There were added:
D ec.

1 1908.

Ja n .

1 1909.

M ar. 1 1909.
Ju n e 30 1909.
Ju n e 30 1909.
Ju n o 30 1009.

M ile s .
L a p w a i B ra n ch e x te n d e d V o llm e r to G ra n g e v ille ,
I d a h o ____________________________________________________ 31.7 8
V a n c o u v e r , W a s h in g to n , to N orth P o r tla n d , O re g o n ,
a c q u i r e d ________________________________________________
5.41
S t. R e g is c u t -o fl, M on ta n a , c o n s t r u c te d ----------------------- 21.69
H a w le y , M in n e so ta , to C a m p N o . 2, c o n s t r u c te d ------7.74
Snake R iv e r J u n ctio n to T e x a s F e r r y , W a s h in g to n ,
a c q u i r e d _________________________________________________ 41.03
C orrection s b y r e -c h a in in g ______________________
59

T o t a l a d d itio n s ................................................................................................... 108.24

Deductions:
Jan .

P A S S E N G E R B U S IN E S S .

Passenger revenue was $17,330,608 06, a decrease of
$802,630 46 or 4.43 per cent from the previous year.
Mail revenue was $1,063,056 90, an increase of $67,736 48
or 6.81 per cent.
Express revenue was $1,413,558 07, an increase of $132,­
938 64, or 10.38 per cent.
Excess baggage and miscellaneous passenger revenue was
$310,483 95, an increase of $45,447 55, or 17.15 per cent.
The total revenue for persons and property carried on
passenger trains was $20,117,706 98, a decrease of $556,­
507 79, or 2.69 per cent from the previous year.
The number of passengers carried was 8,404,712, an increase
of 524,379 over the previous year, and the number of pas­
sengers carried one mile was 767,439,465, a decrease of
26,912,483, or 3.39 per cent.
The miles run by revenue passenger trains were 9,571,432,
an increase of 509,604, or 5.62 per cent.
The rate per passenger per mile was .02258 and .02283
last year.
O P E R A T IN G E X P E N S E S .

1 1909.

Jan .
l 1909.
Jun o 30 1909.
Jun e 30 1909.

2 4.07

84.17
N e t a d d itio n s ------------------------------------------------ ---------------------------------M ileage o p e r a te d Ju n e 30 1 9 0 8 ..................... ................................................. 5,649 13
M ileage o p e ra te d Jun e 30 190 9_________________________________________ 5|733!30
A v e ra g e m ileage o p e r a te d d u rin g th e y e a r ______________________ 5,671.29

E A R N IN G S .
F R E I G H T B U S IN E S S .

Freight revenue was $47,073,305 13, an increase of
$649,468 80 or 1.40 per cent over the previous year.
5,260,492,660 tons of revenue freight were moved one
mile, an increase of 104,114,291 tons one mile, or 2.02 per
cent over the previous year.
The rate per ton per mile decreased from .00900 to .00895.
The revenue train load increased from 430.87 to 434.59
tons.




1 ,3 2 7
4

176,644 ,62 3
3 44 ,950

2 3 4 ,120 ,08 7
4 7 6 ,9 0 0

1 ,323

1 7 6 ,299 ,67 3

233 ,6 4 3 ,1 8 7

1 ,4 00,950
.8 0 %

2 ,4 4 6 ,7 5 0
1 .0 5 %

S old an d scra p p e d d u rin g th e fiscal y e a r . .

N et In crease.

.
.

9
.6 8 %

P A S S E N G E R E Q U IP M E N T .

On June 30 1908 the Company owned 923 passenger train
cars, including 103 sleeping cars owned jointly with the
Pullman Company; on June 30 1909 1,005 passenger train
cars, including 103 sleeping cars owned jointly with the.
Pullman Company, a net increase of 82. The number and
kind of cars owned is shown in table on page 35 pamphlet
report.
F R E I G H T E Q U IP M E N T .

Comparative number and capacity of freight cars:
—

i 908--------C a p a city
(T o n s).
8 4 8 ,7 1 9
11,725
2 3 ,655

N o.
23,052
428
1,432

52,825
2 76 ,890
330
19 0 ,9 5 5
3 4 ,0 0 0

2 .670
8,129
13
4,932
842

N o.
B o x ___________________ 24,480
F u rn itu r e _________ . . .
465
R e f r i g e r a t o r _________
953
F r u i t _______
S t o c k _______
2,192
F l a t ..................
8,442
O i l ......................
12
C o a l ____________
A,777
B a llast an d O re ______
850

909------------ —I n c . o r D e c .—
C a p a city
C a p a city
(T o n s ).
N o . (T o n s ).
789 ,827
1,423 58.892
10,800
37
925
3 5,625
479 1 1 ,970
62,410
269 ,770
345
198 ,985
3 3 ,6 8 0

T o t a ls _______________ 42,171 1 ,4 3 9 ,0 9 9
41,498 1 ,4 0 1 ,4 4 2
P e r c e n t a g e ____
A v e ra g e c a p a c ity per
c a r _________________
____
34.1
33 .8
N o te.— F igures In full fa c e d e n o te d ecrease.

478
313
1
155
8

9 ,5 8 5
7,120
15
8 ,0 3 0
320

673 3 7 ,6 5 7
1 .6 0 % 2 .6 2 %
.3

In addition to equipment shown as on hand June 30 1909
the following have been purchased or will be built at the
Company’s shops during the current year:

M ain L in e M in n esota, relea sed b y su bsti­
tu tio n o f new d o u b le tr a c k ____________________12.28
V a n c o u v e r B ra n ch , W a s h in g to n , s h o r t e n e d ..
.35
M ain L in e , M on tan a, sh o rte n e d b e tw e e n
M issoula and G a rriso n _________________________ 4.93
M ain L in e , M in n esota, relea sed b y su bsti­
tu tio n o f new d o u b le t r a c k ____________________ 6.51

T o ta l d e d u c t io n s ___________________________________________________

A d d e d d u rin g fiscal y e a r .

L ocom otives—
P a cific t y p e passenger lo c o m o t iv e s __________________________________________ 44
M ik a d o ty p e fre ig h t lo c o m o t iv e s ___________________________________________ 40
S ix -w h e e l t y p e sw itch lo c o m o t iv e s ______________________ _________________ 15
M allet co m p o u n d m o u n ta in lo c o m o t iv e s ____________________________
11

110

Freight T rain C ars—
2,000 4 0 -to n b o x cars fro m m an u factu rers an d 668 fro m C o m p a n y ’s s h o p s
a t S o u th T a co m a .
P a ssenger T rain C ars—
16 new steeping cars o w n e d jo in t ly w ith P u llm an C o m p a n y .
D E P R E C I A T I O N O F E Q U IP M E N T .

In accordance with the rules of the Inter-State Commerce
Commission, the following amounts have been charged to
operating expenses on account of estimated depreciation of
equipment, viz.:
M ain ten an ce o f E q u ip m e n t:
L ocom otives----------------------------------------------------------- $859,396
P assen ger c a r s ____________________________________
230,741
F reigh t c a r s .......................
1 ,6 05,700
W o r k ca r s ______________
51,398
F lo a tin g e q u ip m e n t___________
1,565

70
01
14
44
15

— --------------- $2,754,801 44

M A IN T E N A N C E O F W A Y A N D S T R U C T U R E S .

The charges for Maintenance of W ay and Structures were
$7,847,050 35, a decrease of $915,246 98 or 10.45 per cent.
The property was well maintained and improved, as shown
by tho following:
PERM ANENT W A Y .
29.48
Nevr m ain line laid w ith 8 5 -p o u n d ra il________________________
N ew s econ d track laid w ith 8 5 -p o u n d r a il____________________
115 .54
M ain line relaid w ith new 9 0 -p o u n d r a i l _____________________
13.67
M ain line relakl w ith new 8 5 -p o u n d r a i l _____________________
374 .18
S econ d tra ck relaid w ith new 9 0 -p o u n d rail - ...........- ................
19.00
S e c o n d track relaid w ith new 8 5 -p o u n d r a i l __________________
5.34
S id in gs an d spur tracks c o n s t r u c te d ___________________________
130.77
T r a c k b a l l a s t e d _________________________________________________
627.58
E m b a n k m en t w i d e n e d _________________________________________
191 .70
C ross-tie ren ew als, m ain l i n e __________________________________ 1,3 0 6 ,1 7 0
C ross-tie ren ew als, b ra n ch lin e s ________________________________ 971 ,010
T im b e r bridges rep la ced b y p e rm a n e n t stru ctu re s a n d e m ­
b a n k m en ts, 40 In n u m b e r, equa l t o --------------------------------------1 .6 5
T im b er brid ges r e n e w e d --------------------------44
T im b e r c u lv erts r e p l a c e d ----------------------------------------------------------217
N ew s to c k fe n c e c o n s t r u c t e d --------------------------------272 .57
N ew sn ow fe n c e c o n s t r u c t e d ----------------------------------------------------0 .5 0

m iles
“
“
“
“
“
“
“
“
T ie s
“
m iles
m iles
“

B R ID G E S .

R e p la ce d b y e m b a n k m e n t________________________29 b rid g e s , 5,479 lineal fe e t
“
3 ,2 6 8
“
Replaced b y truss, girder and I-beam spans____ 17
8 .7 4 7

“

44 timber bridges, 5,364 lineal feet have been renewed.
217 timber culverts were rebuilt, 4 in temporary and 213
in permanent form.
There are now under construction on operated lines, 2,302
lineal feet of steel girders on concrete piers, 835 lineal feet
of steel trestles and 1,616 lineal feet of reinforced concrete
trestles. A plant has been established at Glendive, Montana,
for the purpose of making concrete piles and slab girders,
with which the present pile bridges, which it is not necessary
to replace with steel girders, can be replaced in concrete
with ballasted deck. I t is expected that by the end of 1911
all timber structures on the main line between St. Paul and
Livingston, Montana, will have been replaced with steel
or concrete.
B R I D G E S A S T H E Y E X I S T J U N E 30 1909.
A ggregate Length.
N o.
S teel, Iron, ston e a n d c o n cre te p e rm an en t brid ges 518
T im b e r and c o m b in a tio n Iron and tim b e r s tr u c ­
t u r e s , - ________ _________________________________ 2,736
T o ta ls

.....................................- .................................3,254

C O M B IN A T IO N S T A T I O N S .

Frame combination stations have been constructed as
follows:
In Montana: at Townsend, Cardwell, Pipestone, Silesia,
St. Regis, Rivulet and Paradise.
In Idaho: at Kootenai.
In Washington: at Mondovi, Outlook, Bayne, Deer Island,
Crawford and Grand View.
S H O P S , E N G IN E F A C I L I T I E S A N D Y A R D S .

During the year 90 bridges were replaced and 16 aban­
doned.
44 were replaced by timber structures and 8
permanent and 38 timber structures were replaced in perm­
anent form as follows:

T o ta l ........................................................................... 46

Ellensburg, Wash.— A passenger station, to be constructed
of brick with sandstone trimmings, and platform, is under
way, to be completed this autumn.
Tacoma, Wash.— The City of Tacoma has granted the
franchise required for the construction of the new passenger
terminal and work has been commenced. Gontract has been
awarded for the passenger station, train shed and platform.
Exterior walls of the station will be built of brick with
sandstone trimmings; floor system and stairs will be re­
inforced concrete; roof and dome, steel.

L in ea l F e e t.
7 9 ,7 6 5

M ile s .
15.11

4 2 2 ,3 0 7

79.98

502 ,072

95.0 9

Laurel, Montana.— The 40-stall roundhouse, shops, sewer
and water facilities, coal dock and other division terminal
buildings, with yards, mentioned in last report as being under
construction, have been completed.
Paradise, Montana.— The 20-stall roundhouse, shops,
sewer and water facilities, coal dock and other division
terminal buildings, with yards, have been completed.
Kootenai, Idaho.— The 20-stall roundhouse, shops, sewer
and water facilities, coal dock and other division terminal
buildings, with yards, have been completed.
F U E L S T A T IO N S .

Besides the coal docks at Laurel, Paradise and Kootenai
mentioned above, new docks have been erected in Montana
at Livingston, Saltese, Rivulet, St. Regis and Trout Greek,
and at Aberdeen Junction, Washington.
W ATER SU PPLY.

New steel water tanks of 100,000 gallons capacity have
been completed at Brainerd, Minnesota; Laurel, Montana;
Paradise, Montana; and Kootenai, Idaho.
New wooden water tanks of 100,000 gallons capacity have
been completed at Witherow, Minnesota; Mandan, North
Dakota; St. Regis, Rivulet and Belknap, Montana; and
Ridgefield, Washington.
Gravity water supply has been installed at Castle Rock,
Washington and Easton, Washington.
IN T E R L O C K IN G P L A N T S .

Superior, W is.— The mechanical interlocking plant at
The total length of timber structures replaced by steel crossing of C. St. P. M. & O. Ry. has been remodeled and
bridges, embankment, or in other permanent form, from enlarged from a 24 lever machine with 22 working levers to a
July 1st 1885 when the work was commenced, to June 30th 52 lever machine with 34 working levers.
An electric interlocking plant has been installed at the
1909, has been 112.75 miles.
Wisconsin draw-bridge over St. Louis Bay. This is a 24
B U IL D IN G S .
lever machine with 18 occupied spaces.
Superior, W is.— The new brick passenger station at
Duluth, M inn .— An electric interlocking plant has been
Nettleton Avenue, mentioned in last report, was completed installed at the Minnesota draw-bridge over St. Louis Bay.
in October 1908.
This is a 20 lever machine with 16 occupied spaces.
Cloquet, M inn .— A frame passenger station (joint with
A mechanical interlocking plant has been installed at the
Great Northern Railway) is being erected and will be finished junction with the Duluth Missabe & Northern Railway at
this autumn.
27th Avenue. This is a 24 lever machine with 19 working
St. Paul, M inn .— An extension 48x300 feet of the freight levers.
house and general office building, Prince Street, is being
St. Paul, M inn.— An electric interlocking plant has been
built, to be completed this autumn. The second story is to installed in Mississippi Street yard. This is a 40 lever
be utilized as an extension of the general offices.
machine with 37 occupied spaces and takes the place of an
St. Cloud, M inn .— A passenger station of brick with old 24 lever mechanical machine with 20 working levers.
granite trimmings, with platforms, is under way, to be
Manitoba Junction, M inn.— Authority has been granted
completed this autumn.
for the installation of a mechanical interlocking plant at this
Detroit, M inn .— The brick passenger station, with plat­ point at the junction of Red River branch with new main lino.
forms, mentioned in last report, has been completed.
The machine will be 24 lever frame with 19 working levers.
Staples, M inn .— A brick passenger station and office
Carman, M inn.— Contract has been awarded for install­
building is being erected. The second story will provide ation of a mechanical interlocking plant at this point at
quarters for the division superintendent and his forces. crossing of Great Northern Railway, the machine to be
The building will be completed this autumn.
24 lever frame with 21 working levers.
Dilworth, M inn .— A brick office building, to provide
Garrison, Montana.— Contract has been awarded for
quarters for division officers and forces has been completed.
installation of a mechanical interlocking plant at this point
Moorhead, M inn.— A brick freight house and office at end of double-track and junction with Northern Pacific
30x160 feet, with necessary platforms, has been completed. Butte Line, the machine to be 24 lever frame with 21 working
The heating plant installed will also provide heat for pas­ levers.
senger station.
Montana Division, First District.— Authority has been
Valley City, N . D .— A now passenger station, located on granted for the installation of automatic block signals
the new main line between Alta and Berea, is being erected, between Laurel and Livingston. There will be 176 electric
and will be completed this autumn.
signals of three-position type.
Jamestown, N . D .— A brick lunch room has been com­
Tacoma, Wash.— Ten additional automatic block signals
pleted.
have been installed between this point and South Tacoma.
Billings, Montana.— The new brick passenger station and
Tacoma-Seattle Line.— Contract has been awarded for
brick lunch building have been completed.
installation of automatic block signals between Tacoma and
A brick supply building for use in connection with pas­ Seattle. There will be 51 electric signals of three-position
senger facilities has been erected.
type.
Forsythe, Montana.— A frame lunch room has been com­
T I E -T R E A T I N G P L A N T S .
pleted.
Brainerd, M inn.— 7,365 lineal feet of trackage, one
Leiviston, Idaho.— The brick passenger station has been
additional 160,000-gallon steel storage tank for creosote oil,
completed.
Pasco, Washington.— The frame lunch building mentioned and one 100,000 gallon steei water tank for fire protection
have been added to this plant.
in last report has been completed.
Paradise, Montana.— 13,315 lineal feet of trackage and
A frame two-story recreation building is under way, to be
one 160,000 gallon steel storage tank for creosote oil have
completed this autumn.
K North Yakima, Wash.— A passenger station and express been added to the plant.
There were treated during the year ending June 30 1909
building to be constructed of brick with sandstone trimmings,
463,220 ties at Brainerd and 584,979 at Paradise.
and platforms, is under way to be completed this autumn.




DOCKS AND W H A R V E S.

J O IN T L IN E S W IT H T H E U N IO N P A C IF IC R Y . CO.

Seattle, TFas/i.— Work on extensions of piers Nos. 1 and 2
to new harbor line is under way.
A portion of the piles under the present piers Nos. 1 and 2
have been protected from teredo action by lock joint cement
pipe.
.
.
A new shed lias been built along the side of pier No. 3.
The dock and freight sheds at West Seattle have been
extended.

The road between Lewiston, Idaho, and Texas Ferry,
Washington, 72.03 miles, and between Cul de Sac and
Orangeville, Idaho, 54.84 miles, is completed and in opera­
tion. Arrangements for joint operation in the interest of the
owning companies are now being made.

CHARGES

TO

C A P IT A L

ACCOUNT.

Upon requisition of the Executive Officers, approved by
the Board of Directors, expenditures have been made during
the past fiscal year for:
Ileal estate, right o f w ay and term inals—
$44 ,410 18
A t S u p erior, W isc o n s in , real e s t a t e _________
S t. P a u l, M in n esota, real e s t a t e ___________
103,138 75
M in n eap olis, M in n esota, real e s ta te _____
23,290 00
D llw o r th , M in n esota, te rm in a ls_________ (C redit) 475 52
L a u rel, M on ta n a , t e r m i n a l s .- ............... .......
251,311 03
P a ra d ise, M on ta n a , te rm in a ls____________
252 ,549 34
San d P o l it, I d a h o , t e r m i n a l s ............ .........
286 ,503 97
L e w isto n , I d a h o , p assenger sta tio n , y a rd
49,066 42
and tr a c k s _____ ______ _______ ___________
S p o k a n e , W a s h in g to n , real e s t a t e ________
403 00
S e a ttle, W a s h in g to n , term in a ls, tunnel
a n d passen ger s t a t i o n .......... .......................
69,910 10
T a c o m a , W a s h in g to n , te r m in a ls _________
112,769 29
I lo q u la m , W a s h in g to n , real e s t a t e _______
8,000 00
lira n ch cs, line changes, grade revisions and second m ain track—
O n c -th lrd Interest In d o u b le -tra ck line V a n c o u v e r to
N orth P o r tla n d , In clu d in g brid ges o v e r C o lu m b ia and
W illa m e tte Itlv e r s .
(T w o -th ir d s ow n ed b y S pok an e
P ortla n d & S eattle R a ilw a y C o . ) ________ $ 1 ,993,357 48
S t. R e g is t o P aradise, M o n ta n a , n ew l i n e . .
648,402 23
W h ite P ine H ill, M o n ta n a , gra d e r e v i s i o n ..
488 ,708 99
567,816 05
T a co m a -T e n ln o L in e , W a s h in g t o n _________
G ra y ’s H a rbor & C olu m b ia R iv e r I l y ., W a s h ­
in g ton __________
85,353 09
G reen R iv e r IIranch e x te n s io n , W a s h in g to n .
49,770 13
D c S m ct to S t. R e g is , M o n ta n a _____________
793,974 92
R ig h ts o f w a v a t S e a ttle , W a s h in g to n , fo r
ch an ges o f line an d new tr a c k s ____________
505 ,457 99
S u rv ey s an d rig h ts o f w a y In N orth D a k o t a .
2 3 ,774 16
S u p erior t o Cen tral A v e ., W isc o n s in , se co n d
m ain t r a c k __________________________________
12,263 10
W a d e n a to L a k e P a rk , M in n esota, se co n d
m ain t r a c k . .......... ........................
9,318 58
L a k e P ark to G ly n d o n , M in n e so ta , secon d
m ain t r a c k __________
698,921 19
G ly n d o n t o M oorh e a d , M in n esota, se co n d
m ain t r a c k .........................
386 59
H a g g a r t to C a sselton , N o rth D a k o ta , secon d
m ain t r a c k __________________________________
99 23
W h e a tla n d to B u ffa lo , N o rth D a k o ta , second
m ain t r a c k --------------------------223 ,9 4 7 05
A lta to 13crea, N o rth D a k o ta , s e co n d m ain
t r a c k .................................
36,7 0 9 62
L iv in g s to n t o M uir, M o n ta n a , se c o n d m ain
117,722 13
tra ck ________________________________
W e s t E n d t o B oz e m a n , M o n ta n a , secon d
m ain t r a c k __________________________________
3,864 49
G arrison t o M ls s o jla , M o n ta n a , se co n d m ain
tra ck ...............................
2,7 5 9 ,8 1 1 03
A u b u rn to M eeker, W a s h in g to n , se co n d m ain
tra ck _______
88,1 9 7 36
V a n c o u v e r t o K ala tn a, W a s h in g to n , secon d
m ain t r a c k __________________________________
823 ,828 42
-----------------------

PO RTLAND

& SEATTLE

R A IL W A Y .

Lines east of Pasco have been completed and were turned
over for operation on May 3rd 1909 as follows:
P a sco to Snake R iv e r J u n ctio n , W a s h in g t o n .......... .......................... 26.0 9 m iles
Snake R iv e r J u n ctio n to R ip a r ia (T e x a s F e r r y ), W a s h i n g t o n .. 41.03
“
S n a ke R iv e r J u n ctio n t o M arshall, W a s h in g to n
._
.
111 .79 “
O n the line fro m M arshall t o G rea t N o rth e rn J u n ctio n (S pok an e)
7.1 9 “

grading and bridging have been completed and track will be
laid by August 1st 1909.
That part of the Spokane Portland & Seattle Railway
between Snake River Junction and Riparia, 41.03 miles, was
purchased by the Northern Pacific Railway Company and
the cost thereof included in the expenditures for the Clear­
water Short Line.
N E W L IN E S , D O U B LE T R A C K , G R A D E R E V IS IO N S
A N D L IN E CHANGES.
M IN N E SO T A .

$ 1 ,2 0 0 ,8 7 6 56

Lake Park to Glyndon, Second M ain Track, 26.83 M iles.—
This work is still in progress. Completion has been delayed
on account of a sink hole encountered near Stock wood for
about-one mile. It is expected to obtain the use of the
entire line late this autumn.
NORTH

DAKOTA.

Wheatland to Buffalo, Second M ain Track, 11.2 M iles.—
This work has been completed.
Missouri River Railway.— Contracts have been let and
construction is in progress as follows:
From Man dan north along the Missouri River 53 miles.
From Mandan south along the Missouri River 72 miles.
Work on the grading is well advanced and will be ready
for rails early in 1910.
Western Dakota Railway (Cannon Ball Line) — Contract
has been let for 90 miles of line.
Work on grading is progressing favorably and will be
completed in May 1910.
M ONTANA.

9 .9 3 1 .6 8 4 33

A d d ition s and betterm ents—
R ig h t o f w a y a n d s ta tio n g r o u n d s _________
$11 1,55 6 73
W id e n in g cu ts a n d fills______________________
24,090 66
P r o te c tio n o f b a n k s ..........................
27,642 88
G rade rev ision s a n d ch an ges o f lin e _________
16.546 45
T u n n el I m p r o v e m e n ts ________________________
2,644 86
B rid ges, trestles a n d c u lv e r ts .......... .................
2 3 0 ,3 0 5 29
In crea sed w eigh t o f rail an d fa s te n in g s____
203 ,025 91
B a l l a s t _______________
94,220 00
A d d itio n a l m ain tr a c k s --------------83,528 82
S id in gs a n d spu r tr a c k s ______________________
211,548 77
T erm in a l y a r d s . _____ ______
264 ,715 26
F e n cin g rig h t o f w a y — .......................
29,820 89
I m p r o v e m e n t o f o v e r and u n d er grade cro s s ­
ings
______
1,256 30
T ra ck e le v a tio n , e lim in a tio n o f grade cro s s ­
ings, A c _____________________________________
28,797 54
I n te r lo c k in g a p p a r a t u s ------------11,694 03
B lock an d o th e r signal a p p a r a t u s . . . ...............
4,3 2 6 67
T elegra p h a n d telep h on e lin e s______________
29,168 82
S ta tion b u ild in gs and fix tu re s..............
243,408 34
S h op s, c n g ln ch ou ses an d tu r n ta b le s ________
27,008 11
S h op m a ch in ery an d t o o ls ..................... ..( C r e d i t ) 21,3 9 0 88
W a te r an d fuel s t a t io n s ______________________
29,307 91
D o ck an d w h arf p r o p e r t y .......... ...................
101,009 27
M iscellaneous s tr u c tu re s ________
47,549 42

Missouri River Railway.— Contract has been let for 50
miles of line extending from Glendive northeasterly along the
Yellowstone River. Grading lias been commenced.
Shields River Valley Railway.— Contract has been let for
23 miles of line. All grading is completed and road will be in
operation by December 1.
Garrison to M issoula.— Line changes, grade revisions and
second track work, 69.1 miles. The work has been com­
pleted.
Clearwater Short Line Railway, Lo Lo Pass L in e.— Contract
has been let for the first 38 miles west from Lo Lo station to
Lo Lo Pass and contractors are getting their outfits on the
ground. On the west side surveys are in progress.
Dc Smct to St. Regis, 72 M iles.— Revision and repairs of the
Cocur d’ Alene Branch on a 0.5 per cent grade line and
present location. This work has been completed.
St. Regis to Paradise, 21.8 M iles.— This new line has been
completed.
White Pine Hill, 28.4 M iles.— The work consisting of
change of line and grade has been completed.
W A S H IN G T O N .

1.801,851 11
N ew equipm ent—
L o c o m o t i v e s ________________________
$202,151 03
P a ssen ger c a r s ___________________________________
826,601 38
F reig h t a n d w ork c a r s _____________________
931 ,588 84
----------------------1,960,341 25
T o t a l fo r the y e a r ________________ _______ __________ ______ 5 14 ,894 ,75 3 25

In addition to the above amount added to the cost of the
Northern Pacific Estate, advances have been made to sundry
companies as follows:
S p ok a n e P ortla n d A S eattle R a ilw a y C o m p a n y
...............$2,3 7 4 ,1 0 4 67
_______ 4 ,2 1 6 ,0 0 3 20
C learw ater S h ort L in e R a ilw a y C o m p a n y
B ig F ork A In tern a tio n a l Falls R a ilw a y C o m p a n y _________
53,483 32
__________
7,3 0 0 68
M issouri R iv e r R a ilw a y C o m p a n y ____________
W estern D a k o ta R a ilw a y C o m p a n y __________ _______ _______
226,021 01
Shields R iv e r V a lley R a ilw a y C o m p a n y ____
________
169,392 70
T o t a l ........................................................- .................................................. $ 7 ,0 4 6 ,3 9 5 58

C A P IT A L STOCK A N D D EBT.
T h e ca p ita l s to c k o u ts ta n d in g Ju n e 30 1008 a m o u n te d t o . .$ 1 5 5 ,0 0 0 ,0 0 0 00
T h e new ca p ita l s to c k to be Issued, as e x p la in e d In the
A n nual R e p o r t fo r 1007, a m o u n tin g t o ____________________
9 3 ,0 0 0 ,0 0 0 00
has been s u b s crib e d , m ak in g a to ta l o f __________ ________$24 8 ,0 0 0 ,0 0 0 00
(o f w h ic h , as sh ow n In the B alan ce Sheet h erein , $2,3 8 7 ,0 0 0
w as, a t the d a te o f this r e p o r t, held In the fo rm o f su b ­
s crip tio n r eceip ts, n ot h a v in g been e x ch a n g e d fo r certifi­
cates) .
As sh ow n b y the sta tem e n t In the re p o rt o f the C o m p tro lle r,
the b o n d e d d e b t o f the c o m p a n y In creased........ ..................
$ 1 ,1 9 7 ,7 6 0 68




SPO KANE

Connell Northern Railivay.— Connell to Adrian, 62 miles.
Contract has been let and grading is making favorable
progress.
Ritzvillc Branch, 38 M iles.— Contract has been let and
contractors are getting forces on the work.
Auburn to Meeker, 7.5 Miles double track.— This work has
been completed.
Vancouver to Kalama, 29.9 Miles Second M ain Track and
Revisions.— The revision of line and grading for second
main track have been completed and track will be finished
by October 31 1909.
Tenino to Kalama, 66.0 Miles of double tracking and Re­
visions.— Contract has been let. The second track will be
completed between Tenino and Chelmlis, a distance of 15
miles, this fall.
G ENERAL.
The flood damage in Montana mentioned in the last report
turned out to be as great as anticipated and the heavy repairs
and bridge adjustments made necessary are just being
completed.
In the Minnesota Rate Case the testimony has been closed
during the year and it is hoped the arguments will be made
late this autumn.
The report of the Comptroller gives further details of the
transactions of the Company.
By order of the Board of Directors,
H O W A R D E L L IO T T ,
President.

NORTHERN

P A C IF IC

R A IL W A Y

CO M PANY— G E N E R AL

CAPITAL LIABILITIES.

N O R T H E R N P A C IF IC E S T A T E —
B a la n ce o f th is a c c o u n t Jun e 30 1 9 0 8 _____________________________________________________ $332,327,2-10 88
T o w h ic h a d d :
N ew m ilea ge, grade re visio n s a n d s e c o n d tra ck c o n s tr u c te d s in c e . $ 9 ,9 3 1 ,6 8 4 33
R ea l esta te a n d term inals p u rch a s e d s in c e _______: _________________
1 ,2 0 0 ,8 7 6 56
A d d ition s a n d b e tte rm e n ts s in c e ____________________________________
1 ,801,851 1 1
-------------------------- 1 2 ,9 3 4 ,4 1 2 00

C A P IT A L ST O C K —
C o m m o n s t o c k issu ed t o Ju n e 30 19 0 8 .................................................................. ........... ...................$ 1 5 5 ,0 0 0 ,0 0 0 00
A d d itio n a l c o m m o n s t o c k issu ed ________________________________________ $90 ,6 1 3 ,0 0 0 00
A d d itio n a l c o m m o n s t o c k t o be Issued o n s u rren d er o f s u b s c r ip tio n
r e c e i p t s _________________________ _____________________ .
. ______
2 ,3 8 7 ,0 0 0 00
--------------------------9 3 ,0 0 0 ,0 0 0 00
$24 8 ,0 0 0 ,0 0 0 00
M ORTGAGE D E B T —
P r io r lien b o n d s ........................... ........................................................... ................$ 1 1 3 ,1 5 0 ,0 0 0 00
5 ,143,500 00
L ess, b o n d s c a n c e l e d _____________________________________________________

$ 3 4 5 ,2 6 1 ,6 5 2 S8
Less:
N et p roceed s o f L a n d D e p a r tm e n t_________________________________ $ 1 ,499,041 40
1 ,0 3 8 ,9 5 8 37
Sale o f s u n d ry p r o p e r t y ____________ ______ _____ ______________________
B a lan ce o f L iq u id a tio n F u n d w ritte n o f f __________________________
6 5 ,5 7 9 27
---------------------------E Q U IP M E N T —
B alan ce o f th is a c c o u n t Ju n e 30 1908 ___________________________________ $3 9 ,4 8 4 ,8 6 3 89
N ew eq u ip m e n t p u rch a s e d o r b u ilt s in c e ________________________________
1,9 6 0 ,3 4 1 25
--------------------------

1 0 8 ,0 0 6 ,5 0 0
G eneral lien b o n d s _____________________________________________________ ______ _•_____________
6 0 ,0 0 0 ,0 0 0
S t. P a u l-D u lu th D iv is io n b o n d s ______________________ __________________
10,4 1 9 ,0 0 0 00
2 ,3 3 9 ,0 0 0 00
L ess, b o n d s c a n c e l e d _________________________________________________
--------------------------8 ,0 8 0 ,0 0 0
N orth e rn P a cific -G r e a t N orth ern jo in t b o n d s — t o t a l issu e ____________ 21 5 ,2 2 7 ,0 0 0 00
Less, G reat N o rth e r n R a ilw a y C o m p a n y ’s p r o p o r t io n .. ____________ 1 07 ,613 ,50 0 00
--------------------------- 1 0 7 ,6 1 3 ,5 0 0

2 ,6 0 3 ,5 7 9 04
$ 3 4 2 ,6 5 8 ,0 7 3 84

S E C U R I T I E S IN H A N D S O F T R U S T E E o f S t. P a u l-D u lu th D iv is io n B o n d s , as
c o lla t e r a l____________________________________________________________________________________

1,288,241 25

In d e b te d n e ss o f o t h e r c o m p a n ie s assum ed b y N o rth e r n P a c ific R a ilw a y C om p a n y :
St. P aul & N o rth e r n P a c ific R a ilw a y C om p a n y gen eral m o r tg a g e b o n d s _________
S t. P a u l & D u lu th
R a ilr o a d first m ortg age b o n d s ________________________________
•St. P a u l & D u lu th
R a ilr o a d secon d m ortg a g e b o n d s ___________________________
St. P a u l & D u lu th
R a ilr o a d first c on solid a ted m o r tg a g e b o n d s __________________
T a y lo rs F a lls & L a k e S u p erior R a ilroa d b on d s (g u a ra n te e d b y S t. P a u l & D u lu th
R a ilr o a d C o m p a n y )______________________________________________________________
D u lu th S h ort L in e R a ilw a y b on d s (gu aran teed b y S t. P a u l & D u lu th R a ilr o a d
C o m p a n y ) _________________________ _______________________________________________
W a s h in g to n & C o lu m b ia R iv e r R a ilw a y first m o r tg a g e b o n d s _____________________

C O S T O F S E C U R I T I E S IN H A N D S O F T R U S T E E o f N o rth e rn P a cific-G re a t N o rth e r n
jo in t b o n d s as c o lla te ra l (1 ,0 7 6 ,1 3 5 shares C . B . & Q . R R . ca p ita l s to c k — N o rth e rn
P a cific R a ilw a y C o m p a n y o n e -h a lf o w n e r )_______________
10 9 ,1 1 4 ,8 0 9 76

CURRENT ASSETS.

2 1 0 ,0 0 0 00
500 ,0 0 0 00
2 ,6 2 0 ,0 0 0 00

15,351,000 00

Total 8547,051,000 00
CURRENT LIABILITIES.

CASH ASSE T S—
Cash on h an d a n d in b a n k s . . _______ __________________________
$ 33 ,200 ,45 4 03
A c c o u n ts r e c e iv a b le ____________________
$ 9 ,3 3 9 ,4 0 6 31
Bills r e c e iv a b le _____________________________________________________________ 3 ,8 8 9 ,2 7 3 92
------------------------1 3 ,2 2 8 ,6 8 0 23
M aterial o n h a n d ________ ______ ___________________________ _______________ . - . ..........................
6 ,1 6 6 ,6 8 5 92

P A Y R O L L S , V O U C H E R S A N D M IS C E L L A N E O U S A C C O U N T S ........................................
T A X E S A C C R U E D O N R A I L W A Y (p a rtly e s t im a t e d )...............................................................
IN T E R E S T ON M O R T G A G E D E B T —
A c c r u e d ___________________________________________________________________
M a tu re d , in clu d in g Interest d u e J u ly 1 1 9 0 9 ____________________________

3 5 ,8 2 7 ,0 7 4 13

D IV ID E N D S U N P A ID —
C o m m o n s to c k d iv id e n d , N o . 4 7 , d u e A u gu st 2 19 0 9 _________________
U n p a id d iv id en d s S t. P a u l & D u lu th R a ilr o a d C o m p a n y ____________

$ 5 0 5,61 6 66
1 ,1 2 8 ,3 8 9 50
-----------------------4 ,3 4 0 ,0 0 0 00
1,854 50
---------------------------

$ 7 ,1 3 5 ,8 5 8 29
1,707-,652 32
'
1 ,6 3 4 ,0 0 6 16

4 ,3 4 1 ,8 5 4 50

Total

14,819,371 27

CONTINGENT LIABILITIES.
I N S U R A N C E F U N D A C C O U N T ...................................................................
3 7 ,7 8 7 ,4 3 0 64

$ 5 ,1 3 9 ,2 7 8 35
1 2 ,1 3 8 ,2 4 9 23

Total

5 ,1 3 9 ,2 7 8 35

17,277,527 58

58,172,008 07

l x x x ix

R E S E R V E ACCOU NTS—
F o r im p ro v e m e n ts a n d f o r r e p la c e m e n t o f e q u ip m e n t, e t c __________________ ___________

[V o l .

PROFIT AND LOSS.
2 ,5 3 5 ,2 3 1 13

Total $133,884,834 43
8637,319,906 92

B a la n ce Ju n e 3 0 th 1909, as p er s t a t e m e n t ................................ ..................... .................................................... ..............

$637,319,906 92

.




$ 8 ,0 2 1 ,0 0 0 00
1 ,0 0 0 ,0 0 0 00
2 ,0 0 0 ,0 0 0 00
1 ,0 0 0 ,0 0 0 00

Capital Liabilities Assumed

Total 8503,435,072 49

LAND DEPARTM EN T—
B a la n ce o f L a n d D ep a rtm en t cu rre n t a s s e ts ______________________________________________

00

THE CHRONICLE

7 ,0 0 0 ,0 0 0 00
1,9 2 8 ,7 4 2 50

IN S U R A N C E F U N D A S S E T S —
C ash, b o n d s , e t c ____________________________________________________________________________

00

2 8 3 ,7 0 0 ,0 0 0 00

L E A S E D T O P R O V IN C E O FM A N IT O B A —
r o a d a n d a p p u r te n a n c e s ________________________________________ $ 6 ,8 1 2 ,5 1 2 94
e q u ip m e n t ______________________________________________________
1 57 ,034 00
m a teria l a n d su p p lie s__________________________________________
3 0 ,4 5 3 06
-------------------------C A S H IN H A N D S O F T R U S T E E S O F S I N K I N G F U N D S _________________________ ______

C O N S T R U C T IO N A D V A N C E S T O R A I L W A Y C O M P A N IE S —
S p ok a n e P o r tla n d & S e a ttle R a ilw a y C o m p a n y ________________________$ 2 8 ,8 8 8 ,9 9 7 95
C learw ater S h ort L in e R a ilw a y C o m p a n y ______________________________
7 ,5 8 2 ,4 1 7 70
B ig F ork & In te r n a tio n a l F a lls R a ilw a y C o m p a n y ___ ______ __________
7 3 5 ,6 7 4 24
M issouri R iv e r R a ilw a y C o m p a n y ______________________________________
1 1 9 ,0 1 5 3 8
W e s te rn D a k o ta R a ilw a y C o m p a n y _____________________________________
2 9 1 ,9 3 2 67
Shields R iv e r V a lle y R a ilw a y C o m n a n y _______________________________
1 6 9 ,3 9 2 70
--------------------------

00
00

Capital Liabilities Issued 8531,700,000 00

4 1 ,4 4 5 ,2 0 5 14

PROPERTY
V a lu e o f
V a lu e o f
V a lu e o f

T R E A S U R Y S E C U R I T I E S ......................................................

1156

CAPITAL ASSETS.

B A L A N C E SH EET? JU N E 30 1909.

INCO M E ACCOUNT F O R T H E F IS C A L Y E A R E N D IN G
JUNE 30 1009.
.

RESOURCES A N D D ISB U R SE M E N TS Y E A R E N D IN G
JU N E 30 1909.

D r.
T o—
O perating E x p en se s :
r
M ain ten an ce ot w a y a n d s tr u c tu re s -----------$7 8 4 /,0 o 0 3 j
A talntcnance o f e q u ip m e n t -------------------------7 ,$ ? 5 ,95S 3.)
T r a ffic e x p e n s e s _____________________________
SS
T ra n sp o rta tio n e x p en s es -------------------------------* 0 ,*>05,621 20

(B e in g a co n d e n se d sta te m e n t o f th e financial o p e ra tio n s fo r th e y e a r .)
RESOU RCES.
Cash o n h an d and in ba n k s Ju n e 30 1 9 0 8 - . - .................... ........... $ 3 4 ,900 ,79 4 91
R eceip ts:
B a la n ce a fte r e x p e n s e s , ta x e s a n d fixed
charges -------------------------------------------------------$ 2 1 ,6 3 9 ,3 5 0 09
B a la n ce o f su n d ry a c c o u n ts c r e d ite d to
P ro fit a n d L o s s . ................. ......... 26,293 45
-------------------------- 21,6 6 5 ,6 4 3 54
L a n d D e p a r tm e n t—
P ro ce e d s o f sa le s------------------------------------$ 1 ,8 0 7 ,7 2 6 06
In te re s t c o lle c te d o n d e fe r re d p a y m e n t s ,
88,783 13

G eneral exp en ses ........................................... —

1 ,1 0.2.-4.4 4 ,-

? 3 8 ,0 20 .004 05

T fix e s *

S ta te a n d c o u n t y ------------ --------- --------------------------------------------Interest and R en tals:
„„ „ „ „ „„„ „„
In terest on fu n d e d d e b t -------------------------------- $6,7 7 5 ,0 0 2 50
In te rest an d com m ission on new s to c k s u b ­
s crip tio n s ______________ _______ — ---------- 3 ,2 6 8 ,4 1 6 36
335 ,921 51
R e n ta ls o f leased roads an d te r m in a ls-------

2 ,5 4 7 ,8 3 4 67

° t h e r r e llta lS .............- .....................- ..................... .............. 1 ^ 1 -

$ 1 ,8 9 6 ,5 0 9 19
Less e xp en ses an d t a x e s ............... ................
3 9 7 ,4 6 7 79— 1 ,499,041
Sale o f su n d ry p r o p e r ty , & c _________________________________
1 ,1 0 4 ,5 3 7
$ 5 9 ,1 7 0 ,0 1 7
D ecrease in secu rities:
In han ds o f T ru stee o f S t. P a u l-D u lu th D iv is io n B o n d s
as co lla te r a l_________________________________________________
64,606
P a ym en ts on subscriptions to new capital stock ______________ 3 0 ,1 1 8 ,1 6 4
Increase in mortgage debt:
Issue o f N orth ern P a cific R a ilw a y C o. P rio r
L ien B o n d s ________________________________ $ 1 ,0 2 2 ,0 0 0 00
Issue o f N orth ern P a cific R a ilw a y C o.
S t. P a u l-D u lu th D iv is io n B o n d s .......... ..
1 7 8 ,0 0 0 00

1 0 ,3 8 0 ,5 5 5 20

n i i' f ( Ip n (1 9 •

N os. 44, 4 5 , 46 and 4 7 ______________________________________
B a lan ce carried to credtt o f P ro fit a n d L oss b e l o w ____________

1 4 ,1 0 5 ,0 0 0 00
7 ,5 3 4 ,3 5 0 09
$7 2 ,5 8 7 ,7 4 4 61

B y—
C r.
O perating R evenu es:
F reigh t ............
$ 47 ,073 ,30 5 13
P a s s e n g e r ________________ ______ _____________ 1 7,330,608 06
O t h e r ___________
4 ,0 5 6 ,8 3 4 02
--------------------------$ 6 8 ,4 6 0 ,7 4 7
Outside O perations:
S leep in g c a r s _______
$33 1,50 6 08
P a rlor a n d o b s e r v a tio n cars .................
62,614 57
D in in g an d ca fe cars (D e f ic it ) ________________
32,781 30
R esta u ra n ts ..........................................
68,020 23— $429,359
R entals R eceived __________________________________________________
889 ,748
H ir e of E q u ip m e n t________________________________________
M iscellan eou s I n c o m e ____________________________________________
15,011
D ividends and Interest o n se cu rities o w n e d a n d interest on
d e p o s i t s _______________________________________________________
2 ,3 4 0 .6 58
$ 72 ,587 ,74 4

08
03

$ 1 ,2 0 0 ,0 0 0 00

21

L ess, decrease In S t. P aul & D u lu th R R .
Car T ru s t N o t e s ___________________________
L ia bilities increased:
U n p a id p a y -ro lls , v o u c h e r s , & c _ . ..................
U n p aid in te re st an d d iv id e n d s _____________
R e s e r v e a c c o u n ts ........................... ........................

2,239 32— 1 ,1 9 7 ,7 6 0 68

$76 0,13 8 27
1 ,5 5 3 ,8 9 3 75
2 ,722,221 00— 5,0 3 6 ,2 5 3 02
$95 ,586,801730
D IS B U R S E M E N T S .
...........

58
10
89

E x p en d itu res:
D iv id e n d s o n s t o c k ____________________________________________$ 1 4 ,1 0 5 ,0 0 0
N ew lines and real e s t a t e _________________ $ 1 1 ,1 3 2 ,5 6 0 89
N ew e q u ip m e n t_______ ______ ______________
1,960,341 25
A d d itio n s an d b e tte r m e n ts _______________
1 ,801,851 11— 1 4 ,8 9 4 ,7 5 3
$ 2 8 ,9 9 9 ,7 5 3
Cash in han ds o f T ru ste e s o f S in k in g F u n d s ..................................
9 44 ,687
C urrent assets increased:
A c c o u n ts an d bills r e c e iv a b le ________________ $6,1 2 8 ,8 8 2 64
A d v a n c e s to railw ay c o m p a n ie s ____________
7,223,931 94
T re a su ry se c u r itie s __________________________ 1 8 ,5 5 2 ,5 0 4 42
M aterial an d s u p p lie s ________________________
53,297 75
C u rrent assets o f lan d d e p a r tm e n t________
170 ,0 3 4 17
------------------------- 3 2 ,1 2 8 ,6 5 0
L ia b ilities decreased:
.
T a x e s a c c r u e d ________________________________
$24 7,75 7 09
L iq u id a tio n a c c o u n t _________________________
65,498 87— 3 13 ,255
Cash o n han d and in ban ks Jun e 30 1 9 0 9 ____________________
3 3 ,2 0 0 ,4 5 4
$ 9 5 ,586 ,80 1

92
61

P R O F I T A N D L O SS A C C O U N T J U N E 30 1909.
To —
Balan ce __________ ________ - ........................................................ ..$5 8 ,1 7 2 ,0 0 8 07
$ 5 8 ,1 7 2 ,0 0 8 07
B y—
B a lan ce to cr e d it Jun e 30 1908, as per an n u al r e p o r t __________ $ 5 0 ,6 1 1 ,3 6 4
B a lan ce o f s u n d r y a c c o u n ts w ritte n o f f _______________________
26,293
B a lan ce o f I n c o m e fo r y e a r e n d in g Jun e 30 1909, b ro u g h t
d o w n .................................................................................
7 ,5 3 4 ,3 5 0
$ 5 8 ,1 7 2 ,0 0 8

40
64
49

53
45
00
07

B y—
alance t o cr e d it o f P rofit an d L o s s as p er b a lan ce s h e e t— $ 5 8 ,1 7 2 ,0 0 8 07

00
25
25
14

92
96
03
30

♦PA S S E N G E R A N D F R E IG H T STA TIS TIC S .
190 7-1 908.
P a ssen gers,
M ile s , T on s,
etc.
A v era g e m ileage fo r the y e a r . ____________
P a ssen ger T r a ffic —
N u m b er o f passengers c a r r ie d _____ _______
N u m b e r o f passengers carried on e m ile ______
A v era g e m iles tra veled b y ea ch p a sse n g e r___

___

. ____

A m o u n t,
R ate, etc.

P er
C ent.

In crea se.

5 ,6 3 3 .3 3

5 ,6 7 1 .2 9

37 .9 6

8 ,4 0 4 ,7 1 2
7 6 7 ,4 3 9 ,4 6 5
91.3

524,379

$1 8 ,1 3 3 ,2 3 8 52
2 ,5 4 0 ,9 7 6 25
2 0 ,6 7 4 ,2 1 4 77
2 30
.02283
3,6 6 9 98

A v e ra g e receip ts fro m each to n o f f r e i g h t ............................ .
A v era g e receipts per ton per m ile reven u e fre igh t ____ . .
Freight train reven u e per m ile o f road (average m ile a g e )____
Total T rain T r a ffic —
R ev en u e fro m freigh t an d passenger tr a in s ____________________
R ev e n u e per m ile o f road (a v e ra g e m ileage)
R ev en u e per train m ile ___________
E x penses p er train m ile _____________
N et tra ffic' reven u e per train m ile ___________

$ 17 ,330 ,60 8 06
2 ,7 8 7 ,0 9 8 92
2 0 ,1 1 7 ,7 0 6 98
2 06
.02258
3 ,5 4 7 29
1 6 ,800,504
5 ,2 6 0 ,4 9 2 ,6 6 0
313.1

15,836,823
5 ,1 5 6 ,3 7 8 ,3 6 9
32 5 .6
$ 4 6 ,4 2 3 ,8 3 6 33
583,338 56
4 7 ,0 0 7 ,1 7 4 89
2 93
.00900
8,344 47
$ 6 7 ,6 8 1 ,3 8 9
12,014
3
1
1

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

6.65
3.39 2 6 ,9 1 2 ,4 8 3
9.42
9.5
4.43 $80 2,63 0 46
$24 6,12 2 67 9.69
2.69 556 ,5 0 7 79
10.43
.24
1.10
.00025
3.34
122 69
963,681
104,114,291

56

6.09
2.02
3.84
1.40
52.39
2.03
4.44
.56
1.35

69 $398,571 03
32
14
75
39
.06

.59
.09
2.48
7.41
4.51

$4 7 ,0 7 3 ,3 0 5 13 $64 9,46 8
888 ,948 58 3 0 5 ,6 1 0
4 7 ,9 6 2 ,2 5 3 71 955,078
2.80
.00895
112
8 ,4 5 7 03
$6 8 ,0 7 9 ,9 6 0
12,004
3
1
1

66
45
22
89
33

D ecrea se.

A m o u n t,
R ate, etc.

7,8 8 0 ,3 3 3
7 94 ,351 .91 8
100.8

A v era g e rate per passenger p er m ile .
. . . ...................
. .
P a ssen ger train reven u e p er m ile o f ro a d (a verage m ileage) _ _
Freight T r a ffic —
N u m b e r ton s reven u e freigh t carried on e m i l e . .

1908-1909.
P a ssen gers,
M ile s , T on s,
etc.

80
02
82

.13
.00005

10.13
.08
.14

♦ T R A IN A N D C A R M IL E A G E STA TIS TIC S .
190 7-1 908.

190 8-1 909.

M ile s , T o n s, E tc.

M ile s , T o n s, E tc.

In crea se.
M ileage o f reven u e passenger tr a in s ---------- ------------------------------------------- -M ileage o f lo co m o tiv e s e m p lo y e d In " h e lp in g ” passen ger tr a in s . . ._ .
P ercen ta ge o f “ h elp in g ” t o reven u e train m ileage ............ . . — . -------M ileage o f reven u e m ix e d tr a in s -------- ----------------------------------------- M ileage o f reven u e freigh t tr a in s -------------------------------------------------- ---------- —
M ileage o f lo co m o tiv e s e m p lo y e d in " h e lp in g ” m ix e d and fre igh t trains
P ercen ta g e o f " h e lp in g ” to reven u e train m ile a g e —
----------------------M ileage of reven u e special trains
______________ __________________________
to ta l reven u e tra in m ileage
_
_________________ ______
.Mileage o f n o n -rev en u e train s
_
________ ________
M ileage of passen ger c a r s ____ _______
____________ ______
A v era ge n u m b er o f passenger cars In train
___________
A v era g e n u m b er o f passengers in train
A v era ge n u m b er o f passengers In ea ch car
M ileage o f loa d ed freigh t cars
.........
M ileage o f e m p t y freig h t c a r s ..... _ . . .
~
'
.
"
M ileage o f ca b o o s e c a r s ._ ___________________
"
___ __
*
T o t a l m ileage o f reven u e fre ig h t c a r s ________
________
____ _
~~
.Special s ervice ca r m ilea g e— f r e i g h t __________
.
~
S p ecia l lervlce c a r m ileage— p a s s e n g e r_____
.
*
T o t a l sp ecial s erv ice car m ile a g e -----------------N o n -r c v c n u e s erv ice car m i l e a g e . . .........................
. ..
A v era g e n u m ber loaded freigh t cars In train
A v era g e n u m b er e m p ty freig h t cars In t r a in ______________________________
A v era g e n u m b er freigh t cars In train (e x c lu s iv e o f c a b o o s e s )___________
P ercen ta g e o f e m p t y cars to to ta l cars In train (e x c lu s iv e o f c a b o o s e s ).
A v era ge n u m b er ton s reven u e freigh t In train _ ___ _____ ___ ___________
A v era g e n u m b er ton s reven u e fre igh t in e a ch lo a d e d c a r ..... ................... .. _
C om pany
C om pany
T o n s tier
T o n s per

fr e ig h t — tons c a r r i e d . ............................. ................ ................................
fr e ig h t — tons ca rrie d o n e m ile . . . . . . ..... ..................................
train c o m p a n y an d c o m m e r c ia l. — __________ ______________ . . .
loa d ed ear c o m p a n y an d c o m m e r c ia l. . . . . .
_____________




9 ,0 6 1 ,8 2 8
366 ,0 8 7
4 .0 4 %
852 ,3 4 0
11,1 1 5 ,1 3 3
1,606,181
1 3 .4 2 %
11,697
2 1 ,0 4 0 ,9 9 8
1,701,791
6 0 ,9 7 9 ,7 6 7
6 .1 5
80.12
19.95
273 ,358 ,84 1
6 4 ,9 7 8 ,9 9 2
1 1,205,528
319 ,543 ,36 1
74,707
53,153
127,860
4 ,8 5 7 ,7 6 9
22.84
5.43
28.27
1 9 .2 1 %
4 30 .87
18.86
4 ,5 8 3 ,8 5 6
1 ,0 3 8 ,9 8 3 ,5 3 3
517.68
2 2.66

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

509,604

3.a 9 %
734,263
11,3 7 0 ,2 8 0
1 ,642,826
1 3 .5 7 %
37,2 1 8
21,7 1 3 ,1 9 3
2,428,041
6 3,507,423
6.16
74.47
18.85
2 8 9 ,0 3 6 ,7 5 6
7 6 ,3 9 8 ,5 4 7
1 1,223,216
3 7 6 ,6 5 8 ,5 1 9
268 ,903
209 ,049
477 ,952
8 ,8 7 3 ,0 6 8
23.88

6.31
30 .1 9
2 0 .9 1 %
434 .59
18.20
4 ,4 9 9 ,3 9 5
1 ,0 4 2 ,4 7 6 ,4 8 4
520.71
21.81

2 55 ,147
3 6 ,6 4 5
.1 5 %
25,521
672 ,195
726 ,250
2,527,656
.01
15,6 7 7 ,9 1 5
1 1,419,555
17,688
2 7 ,1 1 5 ,1 5 8
194 ,196
155 ,896
3 5 0 ,0 9 2
4 ,0 1 5 ,2 9 9
1.04
.88
.
1.92
1 .7 0 %
3.72

3 ,4 9 2 ,9 5 1
3.03

P e r C e n t.
5.62
6.17
13.85
2.30
2.28
218 .18
3 .1 9
42.63
4 .1 5
.16
7.05
5.51
5.74
17,57
.16
7.7 6
259 .94
2 93 .30
273.81
82.66
4 .5 5
16,21
0.79
.86
3,5 0
1.84
.34

.59

3 ,7 5

22,581
.4 5 %
118,077

5.65
1.10

.66
84,461

IN C R E A S E IN C A P IT A L L IA B IL IT IE S A N D E X P E N D IT U R E S , L A S T T H R E E F IS C A L Y E A R S .

D u rin g th e three fiscal years en d in g Ju n e 3 0 th 1909 (th e y ears co v e r in g th e p a y ­
m en ts o f s u b scrip tion s t o N ew C a pital S t o c k ) , th e c o m p a n y has Increased Its
C a pital L ia b ilities as fo llo w s :
S u b s cr ip tio n s t o N ew S to c k ------------------ . . ------------------------------------------------------------T o t a l s ............... ........................................................ ............................ -

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

D u rin g th e sam e p eriod th e c o m p a n y has e x p e n d e d fo r C a pital A c c o u n t as fo llo w s :
R ea l e s ta te , rig h t o f w a y a n d te r m in a ls , _____________________________ _________
B ra n ch es, line ch a n ges, g rad e revision s a n d se c o n d m ain t r a c k .........................—
A d vances to —
S p ok a n e P o r tla n d & S e a ttle R a ilw a y -------------------------------------------------------------------B ig F o r k & In te rn a tio n a l F a lls R a i l w a y ..

.

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

Y ea r E n d in g
J u n e 30 1907.

Y ea r E n d in g
J u n e 30 1908.

Y e a r E n d in g
J u n e 30 1909.

Total
Th ree Y ears.

535 7,56 3 32
1 4 ,7 2 1 ,1 0 0 37

5 3 ,536,363 32
4 8 ,1 6 0 ,7 3 5 60

5 1 ,1 9 7 ,7 6 0 68
3 0 ,1 1 8 ,1 6 4 03

5 5 ,0 9 1 ,6 8 7 32
9 3 ,0 0 0 ,0 0 0 00

5 1 5 ,0 7 8 ,6 6 3 69

551 ,6 9 7 ,0 9 8 92

531 ,3 1 5 ,9 2 4 71

5 9 8 ,0 9 1 ,6 8 7 32

95
09
85
28

52 ,0 6 0 ,8 5 4
1 1 ,3 6 4 ,9 0 9
3 ,5 5 4 ,7 6 5
2 ,2 5 5 ,1 0 2

40
26
50
82

8 1 ,2 0 0 ,8 7 6
9 ,9 3 1 ,6 8 4
1,801,851
1,960,341

56
33
11
25

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

91
68
46
35

11 ,4 9 4 ,8 9 4 42
2 ,2 3 4 ,3 7 8 57
3 11 ,144 17

9 ,4 1 8 ,9 7 5
1 ,1 3 2 ,0 3 5
37 1 ,0 4 6
111,624
65,911

41
93
75
70
66

2 ,3 7 4 ,1 0 4
4 ,2 1 6 ,0 0 3
53,483
7,3 9 0
226,021
169,392

67
20
32
68
01
70

2 3 ,2 8 7 ,9 7 4
7 ,5 8 2 ,4 1 7
735 ,674
1 19 ,015
291 ,932
169,392
5 ,0 6 7 ,0 4 0

50
70
24
38
67
70
33

5 95 4,26 8
6 ,0 8 2 ,2 3 3
3 ,7 3 0 ,9 1 6
11 ,1 7 8 ,1 6 3

5 ,0 6 7 ,0 4 0 33
5 3 5 ,9 8 5 ,9 9 9 33

5 2 1 ,9 4 1 ,1 4 8 83

5 3 5 ,4 0 2 ,2 6 6 76

593 ,3 2 9 ,4 1 4 92

THE BALTIMORE & OHIO RAILROAD COMPANY.
E IG H T Y -T H IR D A N N U A L R E P O R T — F O R T H E F IS C A L Y E A R E N D E D JU N E 30 1908.
Office of the Baltimore & Ohio Railroad Company,
Baltimore, M d., October 14 1909.
To the Stockholders of the Baltimore & Ohio Railroad Company.
The President and Directors submit the following statement of the affairs of the Company for the year ended June 30
1909:
The results from operation on the entire system were:
E a rn in g s.

M ile s .

E x p en se s .

P ercentage
N et E a rn in g s. o f E x p en se s to
E a rn in g s.

T h e B a ltim o re & O h io R a ilr o a d , In clu d in g B a ltim o re & O h io S o u th w e ste rn R R _ . 4 ,0 0 3 .5 2 5 7 1 ,0 4 3 ,5 1 9 23 8 4 7 ,5 5 1 ,9 7 6 35 5 2 3 ,4 9 1 ,5 4 2 88
1 ,7 5 7 ,3 3 2 53
5 ,3 6 9 ,3 3 7 05
3 ,6 1 2 ,0 0 4 52
4 56 .38
C on trolled o r A ffilia te d L in e s -------------------------------------------------------------------------------------------

66.93
67.27

4 ,4 5 9 .9 0 5 7 6 ,4 1 2 ,8 5 6 28 5 5 1 ,1 6 3 ,9 8 0 87 5 2 5 ,2 4 8 ,8 7 5 41

66.96

The general distribution of the earnings and operating expenses of the Baltimore & Ohio Railroad Company was cJ
follows:
O P E R A T I N G R E S U L T S O F T H E B A L T I M O R E & O H IO R A I L R O A D C O M P A N Y F O R T H E Y E A R E N D E D J U N E 30 1909, IN C O M P A R IS O N
W I T H T H E Y E A R E N D E D J U N E 30 1908.
1909.
E a rn in g s—
F r o m F reig h t T r a f f ic .......... ................................. . . .
F r o m P a ssen ger T r a f f ic ............... ............................
F r o m E x p ress T r a f f ic ________________ _______ ..
F r o m T ra n sp o rta tio n o f M a lls________________
F r o m M iscella n eou s T r a n s p o rta tio n _________
F r o m O p era tion s o th e r th a n T r a n sp o rta tio n

3 5 3 ,8 7 2 ,4 1 6
12 ,9 7 0 ,1 1 2
1,480,121
1,20 7 ,3 7 2
970 ,328
543 ,168

5 5 5 ,6 8 1 ,7 8 5
13 ,7 3 6 ,1 0 6
1 ,4 5 3 ,7 2 0
1 ,2 1 1 ,5 9 5
9 78 ,226
5 47 ,346

11
07
47
44
58
56

5 7 1 ,0 4 3 ,5 1 9 23

G ross E a rn in g s-----------------------------------------E xp en ses—
„
F o r M a in ten a n ce o f W a y a n d S tr u c tu r e s ------F o r M a in ten an ce o f E q u ip m e n t --------------------F o r T r a ffic E x p e n s e s ------------------ --------------------F o r T r a n s p o rta tio n E x p e n s e s ------------------------F o r G eneral E x p e n s e s -------------------------------- —

5 9 ,0 1 7 ,3 9 6
1 0 ,9 8 5 ,7 3 0
1,608,451
2 4 ,4 5 3 ,7 9 0
1 ,4 8 6 ,6 0 7

54
49
62
05
65

68
97
10
24
32
90

4 ,222 80
7,8 9 7 74
4 ,1 7 8 34

5 7 3 ,608 ,78 1 21

52,565,261 98

510 ,5 7 9 ,6 8 8
1 2 ,6 5 2 ,6 4 0
1 ,6 6 9 ,0 2 8
2 7 ,7 2 0 ,1 9 2
1 ,5 2 9 ,3 2 9

51 ,5 6 2 ,2 9 2
1 ,6 6 6 ,9 1 0
60,576
3 ,2 6 6 ,4 0 2
42,721

61
74
53
34
16

5 4 7 ,5 5 1 ,9 7 6 35

5 5 4 ,1 5 0 ,8 7 9 38

N e t E a rn in g s fr o m O p e r a t io n ------------------------------

5 2 3 ,4 9 1 ,5 4 2 88

5 1 9 ,457 ,90 1 83

P e r c e n ta g e o f E x p en ses t o E a rn in g s -----------------

66.93

73.57

T o t a l E x p e n s e s ...................................................

5 1 ,8 0 9 ,3 6 9 57
7 65 ,994 90
326,401 37

07
25
91
29
51

5 6 ,5 9 8 ,9 0 3 03
54,033,641 05

The lines included in the foregoing table of operating results, and their respective mileage, aggregating 4,003.52 miles
appear in detail in table 28 of this report, with omission of the
Valley Railroad of Virginia,
Cleveland Terminal & Valley Railroad,
Ravenswood Spencer & Glenville Railway,
Cleveland Lorain & Wheeling Railway,
Ohio & Little Kanawha Railroad,
*
for which lines a summarized table follows:
O P E R A T I N G R E S U L T S O F T H E F O L L O W I N G L I N E S C O N T R O L L E D B Y O R A F F I L I A T E D IN I N T E R E S T W I T H T H E B A L T I M O R E & O H IO
R A I L R O A D S Y S T E M F O R T H E Y E A R E N D E D J U N E 3 0 1909 IN C O M P A R IS O N W I T H T H E Y E A R E N D E D J U N E 30 1908.__________
C om p a rison o f N et
E a rn in g s w ith 1908.

190 9.
M ile s .
E a rn in g s.
V a lle y R a ilr o a d o f V ir g in ia -------------------------------------------------R a v e n s w o o d S p en cer & G len ville R y _____________________
C levela n d T erm in a l & V a lle y R R --------------------------------------C levela n d L o r a in & W h e e lin g R y --------------------------------- . .
O h io & L ittle K a n a w h a R R _____________________ _________

62.12
3 2 .4 0
92.72
194.88
7 4 .2 6
4 5 6 .3 8

5197,383
55,190
1 ,0 5 6 ,4 8 7
3 ,7 9 6 ,1 8 2
264 ,093




E x p en se s .
16
43
55
42
49

5 5 ,3 6 9 ,3 3 7 05

The gross earnings of the Baltimore & Ohio Railroad
Company for the fiscal year ended June 30 1909 were $71,­
043,519 23, a decrease from those of the preceding year of
$2,565,261 98, due to a contiunance of the general depression
in business prevailing though out the country, which so
seriously affected your earnings during the fiscal year ended
June 30 1908.
The first five months of the current fiscal year were marked
by diminished earnings to the extent of $6,277,850 51, Us
comparing with the same period in previous year. With
December 1908 an improvement was noted and a gain over
December 1907 was made of $357,588 81; the remaining

N et E a rn in g s
from
O peration.

5136,143
55,990
7 36 ,652
2 ,4 6 4 ,8 8 2
21 8 ,3 3 5

43
87
03
54
65

53 ,6 1 2 ,0 0 4 52

5 61 ,239
D e f.
800
31 9 ,8 3 5
1 ,3 3 1 ,2 9 9
4 5 ,757

73
44
52
88
84

51 ,7 5 7 ,3 3 2 53

In crea se.

D ecrea se.

P ercen t­
age of
E x p en ses
to
E arn ings.

46,061 59

68.97
101 .45
69.73
64.93
82.6 7

5 41 ,989 71

67.2 7

511,374 26
4 4,928 72

51,251 16
59,123 70

months of the fiscal year continued to show substantial
gains, indicating a return movement towards normal business
conditions, the comparative increase for the last seven
months aggregating $3,712,588 53.
Of the loss in earnings during the year $1,809,309 57 was
in freight traffic with a decreased tonnage carried of 1,­
264,737 tons and of 510,670,124 tons carried one mile; the
average rate per ton per mile was .581 cents as compared
with .569 cents in 1908. The falling off in coal shipments
was 889,942 tons, while there was a gain in coke of 112,113
tons. There was a marked loss in shipments of ores of
359,703 tons; in iron (pig and blooms), 271,394 tons; in

grain, 261,378 tons, and in forest products of 112,942 tons.
On the other hand there were increases in shipments of stone,
sand, &c., of 319,689 tons; in cement, brick and lime of
196,204 tons, and in rails, castings and machinery ot
tons. The statement of commodities carried, table 17,
shows the above and other fluctuations in the various
commodities.
,
n„
The passenger earnings show a decrease ot $765,994 JO,
with an average rate per passenger per mile of 1.380 cents
as against 1.890 cents. The number of passengers carried
decreased 161,251, with a reduction in the number of pas­
sengers carried one mile of 36,888,527. >
The earnings from express traffic increased 826,401 37,
the receipts from the transportation of mails decreased 84,­
222 80 notwithstanding the increase in mail matter trans­
ported [ owing to material reductions made in rates of pay
for transportation and facilities furnished and receipts from
miscellaneous transportation and other items diminished
812,076 08.
.
The exepenses of operation show decreases aggregating
86,598,903 03, of which amount 81,562,292 07 was in
maintenance of way and structures; $1,666,910 25 in main­
tenance of equipment; $60,576 91 in traffic expenses; $3,­
266,402 29 in transportation expenses, and $42,721 51 in
general expenses. The percentage of expenses to gross
earnings was 66.93 per cent, as against 73.57 per cent in
1908, a decrease of 6.64 per cent.
.
The shrinkage in traffic which so markedly diminished the
earnings in the early months of the year resulted in decreased
transportation expense and admitted of material reductions
in maintenance expenditures. rl he distribution of operating
expenses, found in table 11, sets forth the comparative
increases and decreases in the several accounts. A number
of these reductions arc due to the change made July 1 1908
when the classification determining and governing “ Outside
Operations” was made effective by the Inter-State Commerce
Commission. This relieved operating expenses of a class
of expenditures which were regarded as not necessarily
incident to transportation by rail, such expenses being
directly charge to Outside Operations, which feature also
received credit for whatever of earning or allowances as
pertained to such account. For illustration, of the decrease
in maintenance of equipment, $212,689 73 represented
maintenance and depreciation of equipment in parlor, cafe,
and dining car service transferred to the expenses of “ Out­
side Operations.” In transportation expenses $728,317 31
was likewise transferred, mainly represented by the expenses
incident to New York Harbor Terminal Transfer service,
this year treated as an “ Outside Operation” . General
expenses and traffic expenses were also reduced by this same
condition or other changes in classification, all of which
disturb in a measure the value of comparisons with previous
years.
The General Income Account of the Company shows the
net income of the year, after the payment of interest on the
funded debt, taxes and all other fixed charges, to have been
$13,020,965 48, which is an increase over that for the pre­
ceding year of $2,585,621 50.
Against the net income
there were charged dividends of four per cent on the preferred
and three per cent on the common stock, the dividend of
three per cent on the common stock payable March 1 1909
having been charged against the surplus as of June 30 1908;
there was also charged the amount of expenditures made
during the year for miscellaneous improvements, $547,983 89,
leaving as the surplus for the year, to be carried to the credit
of Profit and Loss account, $5,507,706 72.
The Profit and Loss credit as of June 30 1908 was $17,­
865,442 23; this amount was charged during the year with
$5 252,467 58, made up of the three per cent dividend on
common stock payable March 1 1909; the remainder $687,­
192 71, being the result of charges for discounts on bonds
sold and sundry adjustments during the year, leaving the
total to the credit of Profit and Loss account June 30 1909,
after credit of surplus for the year, $18,120,681 37.

1908.
1900.
S
$
D ed u ction s from G ross C orporate In co m e—
N e t O p e r a tin g R e v e n u e —
152,755
194 ,135 38
W a s n ln g to n B r a n ch ________
3 1 ,824
39,931 04
W in c h e s te r & S tra sb u rg R R .
R e n ts —
H ire
o f E q u ip m e n t— N e t
C r .7 ,3 3 0
B a l a n c e _____________
1 70 ,864
73
J o in t F a cilitie s — T o t a l P a y ­
777 ,274
m en ts ______________________
6 8 8 ,4 0 6 82
M iscella n eou s R e n ts — T o t a l
104,853
140,139
14
P a y m e n ts ___________
In te re st on F u n d e d D e b t
(T a b le 1 ) ____________1 0 .7 4 1 ,6 4 3
50 10,6 4 4 ,1 0 2
560,754
O th er In te re s t (T a b le 1 ) .
5 79 ,157 51

In c . ( + ) or
D ec . (— ) .
$
56
28

+ 41,379 82
+ 8,106 76

95

+ 178,195 68

02

— 88,867 20

82

+ 35,285 32

79
56

+ 97,540 71
+ 18,402 95

T o t a l D e d u c tio n s fro m I n ­
c o m e ............. .....................12,5 5 4 ,2 7 8 12 1 2,264,234 08
N et C o rp o ra te I n c o m e

1 3 ,0 2 0 ,9 6 5 4 8 * 1 0 ,4 3 5 ,3 4 3 98

+ 2 9 0 ,0 4 4 04
+ 2 ,5 8 5 ,6 2 1 50

F r o m th is N e t In c o m e fo r th e Y e a r ____________________________ $ 1 3 ,0 2 0 ,9 6 5 48
th e fo llo w in g a m o u n ts h a v e been d e d u cte d :
D iv id e n d on P referred S t o c k , 2 % p a y a b le
M arch 1 1 9 0 9 ______________________ _______ _ $ 1 ,2 00,000 00
D iv id e n d o n P referred S t o c k , 2 % p a y a b le
S e p t, t 19 0 9 ________________ _________ __________ 1 ,2 0 0 ,0 0 0 00
D iv id e n d on C o m m o n S to c k , 3 % p a y a b le
S ep t. 1 1 90 9____________________________________ 4 ,5 6 5 ,2 7 4 87
M iscella n eou s I m p r o v e m e n ts — T a b le 7 ________
546 ,048 07
T o p o g ra p h ica l a n d R I g h t-o f-W a y S u r v e y s an d
1,935 82 7 ,5 1 3 ,2 5 8 76
M a p s ____ ____________________ ___________ ______
L e a v in g S u rplu s, w h ich has been carried t o P ro fit a n d L o s s . $ 5 ,5 0 7 ,7 0 6 72
A m o u n t t o C redit o f P ro fit an d L o ss Ju n e 30
1908 __________________________________________ $ 1 7 ,8 6 5 ,4 4 2 23
D e d u c t D iv id e n d on C o m m o n
S t o c k , 3 % p aid M arch 1 1 9 0 9 .$ 4 ,5 6 5 ,2 7 4 87
D e d u c t S u n d ry A d ju stm e n ts,
N et D e b it B a la n ce ___________
687,192 71
5 ,2 5 2 ,4 6 7 58 12,6 1 2 ,9 7 4 65
A m o u n t t o C redit o f P ro fit a n d L o ss Ju n e 30 19 0 9 -------$ 18 ,120 ,68 1 37
* T h e fo rm o f In c o m e A c c o u n t has been revised t o c o n fo r m m o r e c lo s e ly
t o th a t o f the In te r -S ta te C om m erce C om m ission , an d th e to t a l o f n et
c o r p o r a te Incom e fo r 1908 r e -ca st fo r p u rp ose o f p ro p e r c o m p a r is o n .

The General Balance Sheet, Table 2, shows an increase in
C a pital L ia b ilitie s o f ............................................................... - ...................$ 1 ,6 9 6 ,1 2 0 00

explained as follows:
T h ere w ere issued fo r I m p r o v e m e n ts , B e tte rm e n ts an d
E x ten sion s, and In e x ch a n g e fo r u n d e rly in g s e cu ritie s, as p r o ­
v id e d In the re se p ctlv e M ortg ages se cu rin g such b o n d s:
F irst M ortgage 4 % B o n d s -------------------------------$1 ,0 0 0 ,0 0 0 00
P itts b u rg h J u n ctio n
M id dle D iv is io n
P rior L ien 3
B o n d s ------------------------------9 ,1 2 0 00
P itts b u rg h L a k e Erie & W e s t V irgin ia S y s ­
tem 4 % B o n d s . . . _______ __________________
6 87 ,000 00 $ 1 ,6 9 6 ,1 2 0 00

In “ Capital Liabilities Assumed” there is a net decrease of
$09,898 67, the result of the full payment and extinguishment
of the equipment trusts of the Monongahela River. Railroad;
a reduction in the outstanding undeposited old securities
and an increase in Ground Rent liens on property purchased.
There is a decrease in “ Loans and Bills Payable” due to
the payment of the short-term notes of your Company which
were outstanding on June 30 1908.
“ Capital Assets” show an increase of $9,966,114 72, of
which $5,550,571 72 is in Cost of Road and is made up of
construction expenditures during the year, with some
adjustments.
“ Real Estate” shows a decrease of $3,624,386 17, mainly
due to an analysis of this account and readjustment as of
June 30 1909 and the transfer to Cost of Road of sundry
charges for properties used in the active operations of the
Company, which had been originally charged to Real Estate
when acquired and were carried in this account and partly
account of sale of certain properties no longer requisite for
the Company’s operations.
“ Securities Owned” — The ledger value of bonds owned by
the Company, Table 5, has decreased $12,470,727 50,
principally the result of sale of holdings of your Company’s
own issue of Pittsburgh Lake Erie & West Virginia refunding
bonds and of Union Stock Yards Company bonds; and the
redemption and payment of Pittsburgh & Baltimore Coal
Company bonds and Cleveland Terminal & Valley Railroad
lease warrants.
The ledger value of stocks owned by the Company, T ab le4,
GENERAL INCOME ACCOUNT O F T H E BALTIMORE & OHIO decreased $1,554,514 16, due mainly to the deposit with the
R A I L R O A D C O M P A N Y (IN C L U D I N G B A L I I M O R L & O H IO
trustees of preferred and common stock of the Cleveland
SO U 'IU IV V E S T E R N R A I L R O A D C O M P A N Y ), Y E A R E N D E D
Lorain & Wheeling Railway, under the provisions of your
J U N E 30 1000. IN C O M P A R IS O N W I T H T H E Y E A R
E N D E D J U N E 30 1008.
Pittsburgh Lake Erie & West Virginia System Mortgage, less
In c. ( + ) or
the acquirement of •additional stock of the Washington
1000.
1008.
D e c . (— ) .
$
$
$
Terminal Company and that of preferred stock of the Chicago
T o t a l O p era tin g R e v e n u e - 7 1,043,510 23 73,608,781 21
2 ,5 6 5 ,2 6 1 08
Terminal Transfer Railroad Company.
T o t a i O p era tin g E x p en ses
4 7 .551.076 35 54,1 5 0 ,8 7 0 38
6 ,o 9 8 ,9 0 3 03
In “ Current Assets” there is an increase in the item “ Due
2 3 ,4 9 1 ,5 4 2 88 19,457,901 83 + 4 ,0 3 3 ,6 4 1 05
by Other Companies for Advances” of $895,635 94, consist­
ing of amounts advanced the Baltimore & Ohio Equipment
O utside O perations—
+ 1,150,593 67
T o t a l R e v e n u e --------------1,150,593 67
Company, $999,999 98, for purchase of equipment; less
+ 1,6 8 9 ,8 4 3 03
T o t a l E x p e n s e s ------------1,689,843 03
decreases in advances to Washington Terminal Company
— 539 ,249 30
d ef5 3 0 ,2 4 9 36
and to Cleveland Terminal & Valley Railroad, with some
other minor fluctuations.
22,0 5 2 ,2 9 3 52 19,457,901 83 + 3,4 9 4 ,3 9 1 69
2 ,0 2 7 ,2 9 8 58

+ 3 4 ,8 9 0 83

2 0 ,8 9 0 ,1 0 4 11 1 7 ,430,603 25

2 ,0 6 2 ,1 8 9 41

+ 3 ,4 5 9 ,5 0 0 86

Other Incom e—
4 46 ,646 90
J o in t F a cilities— T o ta l R c c . - .
466 ,1 3 4 68
M Isccll. R e n t s — T o ta l R e c - - - D lvklentls on S to c k s O w n e d . - 1.534,916 87
In terest on 13onds O w n e d ------- 1,5 9 8 ,6 3 5 87
526 ,076 40
O th er In te r e s t.............------------- -W estern
Union
Telegraph
60,000 00
C om p a n y A n n u ity -------------52,728 77
M iscellaneous I n c o m e --------------




4 ,6 8 5 ,1 3 0 49

57
62
85
39
08

— 19,484 67
+ 90,1 0 8 06
— 537,804 98
— 2 2 9 ,7 7 7 52
+ 175,499 42

6 0 ,0 0 0 00
115,104 40

— 6 2 ,375 03

466,131
376 ,026
2 ,0 7 2 ,7 2 1
1,8 2 8 ,4 1 3
3 50 ,576

5 ,2 6 8 ,0 7 4 81

— 5 8 3 ,8 3 5 32

.2 5 ,5 7 5 .2 4 3 60 2 2 ,6 0 0 ,5 7 8 06

+ 2 ,8 7 5 ,6 0 5 54

C O N STR U C TIO N A N D B E T T E R M E N T S .
T h e a ggregate ex p e n d itu re s fo r C o n s tr u c tio n a n d B e tte rm e n ts
0 4
.
. ___ ______ 1,
to
r the +tw e. lve
m o n th s h a ve Lboeaenn — ............................................$< 44 ,8044 4J ,304411 24
F or the tw e lve m o n th s e n d e d Ju n e 30 1908 th e y w e r e ............. 6 ,3 7 5 ,9 2 2 43
A de cre a se o f _________________________________________________$ 1 ,5 3 1 ,5 8 1 19

The detail of the $4,844,341 24 expended, is shown in the
statement of “ Analysis of Construction Charges” , Table 6,
which gives the character o fjt e expenditures and the points
at which they were made.
e general distribution as to
locality was:

N ew Y o r k D iv is io n _______ _______________________________________
$11 ,708 75
P h ila d elp h ia D iv is io n _____________________________________________
513 ,112 47
B a ltim ore D iv is io n _______________________________________________ 2 ,0 1 0 ,5 9 2 80
C u m b erlan d D iv is io n ________________
3 1 1 ,6 8 5 51
S h en a n d oa h D iv is io n __________________________
3,811 48
M on on g a h D iv is io n .......................
90,955 65
W h e e lin g D iv is io n _________________________________________________
350 ,626 41
O h io R iv e r D iv is io n __________________
53,612 45
C on n ellsville D iv is io n _____________________________________________
138,129 73
P itts b u r g h D iv is io n ...................................
197,526 24
N ew Castle D iv is io n _____ ______ __________________________ C redit
222,723 92
C levelan d D iv is io n ___ _______
37,9 9 8 65
N ew ark D iv is io n ___________________________________
62,864 85
C h ica g o D iv is io n __________________________________________________
23,004 66
S ou th w estern D iv is io n ................
361 ,345 51
T o t a l - ...........................

...................................................................... $4,844,341 24

Which was taken up as follows:
C apital A c c o u n t, C ost ot R o a d , c h a r g e d ----------------------------------- $ 4 ,920,552 86
R a ilr o a d s In G eneral A c c o u n t , c r e d it e d _______________________
76,211 62
N et T o t a l .............- ...................- .............................................................. -$ 4 ,8 4 4 ,3 4 1 24

In addition to the foregoing there was charged direct to the
Income Account of the Company during the year the sum
of $546,048 07 and to the Railroads in General Account
$3,524 17, the character of which expenditures and the
locality being given in statement of “ Analysis of Miscel­
laneous Improvements Charged to Income” table 7. The
general distribution as to locality was:
N ew Y o r k D iv i s io n ..
P h ila d elp h ia D iv is io n .
B a ltim ore D iv is io n ___
C u m b erlan d D iv is io n .
S h en a n d oa h D iv is io n .
M on on g a h D iv is io n ____
W h e e lin g D iv is io n _____
O h io R iv e r D iv i s io n ...
C on n ellsville D iv is io n ..
P ittsb u rg h D iv i s io n ...
N ew Castle D iv i s io n ...
C levela n d D iv is io n ____
N ew ark D iv is io n _______
C h ica g o D iv is io n ______
S ou th w estern D iv is io n
T o ta l

.............
.............
_______
_______
.............
.............
.............
_______
............
.......... ..
............
_______
C redit
---------.............

$16 ,293
3 2 4 ,7 4 5
9,842
94,2 8 5
3,1 6 8
5,193
2 4 ,8 8 9
2 ,7 9 9
1,821
16,165
11,954
3,2 7 3
209
1,581
3 3 ,767

51
22
68
11
58
91
68
01
10
80
52
84
64
11
81

$54 9,57 2 24

Philadelphia— The expenditures made during the year at
East Side were for finishing the new engine terminal and
classification yard at that point and payment for 12.8 acres
of land on which the improvement is located.
The new steel transfer bridge at Piers 62 and 63 has been
completed, and the overhead street bridges at 60th Street
and 61st Street have been rebuilt and enlarged.
Work on the new double-track bridge over the Susque­
hanna River has steadily progressed and will be completed
and in use during the coming year.
Connections have been made with the Philadelphia
Baltimore & Washington RR . east of the Susquehanna River
between Aiken and Perryville; also west of the river between
Osborne and Oakington.
All the bridges between Baltimore and Philadelphia will
be so strengthened during the coming year and half as to
permit of the use of the heaviest equipment between those
two points.
Baltimore— Additional equipment was installed in the
Brevard Street Battery House. Additional property has
been purchased for the proposed improvements at and
around Camden Station, and additional tracks have been
constructed at that point to admit of the entrance of the
Maryland Electric Railways Company into the station.
A new fruit exchange, with track connection, has been
constructed at Howard and Lee Streets.
Mount Clare— The new concrete elevator has been com­
pleted and is now in active operation.
Locust Point— Work on the new Pier 8 has steadily
progressed and will be completed during the coming year.
Brunswick— The fourth track from Brunswick to Weverton
and the new interlocking plant at the latter point have
been completed.
Anacostia— The Company has settled with the Government
for its proportion of the cost of the overhead bridge at Monroe
Street constructed by the District of Columbia.
Washington— The joint coach and engine yards are now
practically completed. Various adjustments have been
made in the property accounts at this place.
Georgetown— The construction of the Washington &
Western Maryland Railroad, between K Street and the
District Line, was undertaken during the year, and while
not fully completed was put in operation June 25 1909.
The line of the Metropolitan Southern Railroad is being
extended from Chevy Chase, Md., to the District Line,to
connect with the Washington & Western Maryland Railroad,
which, when completed, will give an outlet for the line from
Georgetown. The work is well under way and will be com­
pleted during the coming year.
Eckington—-There has been an adjustment of the cost of
the “ Y ” at this point between the Washington Branch and
Metropolitan Branch.
Cumberland— The viaduct known as Bridge 68 is being
widened to standard width and reinforced to carry the
heaviest equipment. This work will be completed during
the coming year.
Buckhorn— The work of revising the line at Littic Buckhorn wall has been completed.
A t Bridge 100, east of Grafton, the line is being revised'to
reduce the curvature to 5 deg. 30 min., and the bridge is
being renewed on the new location. This improvement
will be completed during the year.
Parkersburg— The terminal and yard facilities, recited in




the report last year, have been completed, but some final
settlements remain to be made.
Wheeling— The passenger and freight terminals have been
completed, with the exception of some minor details, and
that portion of the freight terminals the construction of
which was postponed. The facilities which have been
completed are now in use.
Holloway to Bellaire— That part of the work of reducing
grades, eliminating curves, and constructing second main
tracks, which was postponed, has now been completed.
Holloway— A new telegraph office and a building for use
of the Medical Examiner, with hospital facilities, were built.
Kenova— Right-of-way has been purchased for a “ Y ” ,
and additional stock pens have been built.
The Pigotts Run Line has been extended from the Pooz
Mine to the Robinson Run Mine.
Yough— Water rights were purchased in Laurel Run at
this point.
Rockwood and Brook Tunnel— Right-of-way settlement
account of second track constructed between these two
points.
Greene Junction to Mount Braddock— The second track
between these points was put in operation in March 1909.
Some work still remains to be done before this improvement
is finished.
Palatine Branch— The extension of this line has been
completed and put in operation to Station 80, a distance of
7,400 feet.
Quemahoning Branch—-The extension of this branch to
Jenner Mines 4 and 5, Acosta Station, has been completed
and is now in use.
Morgantown— The Company has paid a proportion of the
cost of enlarging highway bridge at this point, thereby
securing sufficient room for another track.
Trotter— Right-of-way was purchased at this station for
siding to the Trotter Works.
Bidwell and Sipes— The construction of 5,009 feet of track
west of Bidwell and 500 feet east of that point has been
completed, with the exception of the track laying.
McKeesport to Wheeling Junction— The interlocking
plants at Demmler, McKeesport, Bessemer and Wheeling
Junction have been completed, and the new passenger
station at Braddock finished; this improvement cannot be
completed until additional right-of-way is secured.
Pittsburgh— Some additional property has been purchased
for the Try Street Yard, and for the Ore Yard; also at 23rd
and 24th Streets.
Washington, Pa.— Property has been purchased for
additional track facilities.
Elm Grove— In furtherance of the improvements to be
made at this place, additional right-of-way has been pur­
chased for passenger station and tracks.
Between Gochring and Celia, expenditures were made for
the purpose of widening the township road.
New Castle— The Company has paid a proportion of the
cost of the undergrade crossing at Rieber Street. Some
property was purchased for the Gardner Avenue Yard.
Youngstown— Some property was purchased at this
station for additional freight house and track facilities.
Warren— A new passenger station with freight facilities
was built at this point.
Some additional charges were made to the Mahoning Valley
Western Railroad during the year.
Credit has been taken for the abandoned line between
Sterling and Nova.
Cleveland— Work on a new Bascule double-track draw­
bridge with 200 feet clear span, over the Cuyahoga River,
has been started.
Akron— Additional right-of-way has been purchased for
team-track facilities.
Lorain— Considerable expenditure has been made at this
point during the year. Additional tracks have been placed
in the 17th Avenue Yard; property has been purchased in
connection with the hoisting crane; a coal trimmer has been
added to the No. 1 coal dumping machine; and additional
expenditures were made in connection with the new car
dump coaling machine No. 2.
Gary, Pine and Indiana Harbor— Additional expenditures
have been made in connection with the track and yard
facilities at these points. A new freight station has been
constructed at Gary, and a new passenger station is being
built at this point.
Mill Creek— Settlement has been made whereby the
Company obtains a clear title to property occupied by its
tracks at this point.
Fort Ritner— The work of lining 1,100 feet of Big Tunnel
is still under way.
During the year stations at Orlando, Wheeling and
Pierceville have been completed, and there are now in course
of construction stations at Fairpoint, Listic and Warren.
During the year an analysis was made of the Company’s
Real Estate Account and a large amount of property found
therein, which, although properly chargeable to Real Estate
Account when purchased, had not been cleared to respective
Cost of Road Accounts when utilized for railroad purposes.
An adjustment has now been made, which explains the large
amounts included in Table 6, and which, for purposes of
identification, have been noted as adjustments.
The work of strengthening bridges for heavy power is
steadily progressing, as indicated in the tables.

There were 1,090.13 miles of road ballasted; 36,192.63
tons of steel rail of 100 and 85 pounds to the yard; and
2,184,628 cross-ties used in renewals and construction.
47.30 miles of sidings, 20.42 miles of main track and 15.88
miles of second track were built during the year.

Additional construction expenditures were made during
the year to the extent of 8581,571 96, making the total
expended to June 30 1909 815,924,303 33. While the
property may be considered as being substantially com­
pleted, there will be some additional expenditures during the
coming year.
The amount of your holdings of stock as of June 30 1909
was 20,610 shares, par value 82,061,000.
E Q U IP M E N T .
During the year, the following new rolling equipment was
added to your service: 31 Freight cars; the total equipment
as of June 30 1909 being
L o c o m o t iv e s ______________________________________________________ 1,906
P a sse n ge r ca r e q u ip m e n t........... .......................- .......................... . L I 61
F re ig h t ca r e q u ip m e n t____________________________________________ 81,978
W o r k car e q u ip m e n t______________________________________________ 2,825

carried in the following accounts:
Locom o­ ----------------- C ars—
Passenger. F reigh t.
tives.
57,469
& O h io R a ilr o a d ______1,381
11,683
& O h io E q u ip m e n t C o - 249
8,503
188
& O h io S o u th w e ste rn H R . . 168
4,323
96
L in e s ________________ '. . 108
1,906

1,161

81,978

W ork.
1,979
615
231
2,8,

as further explained below and in Table 18 of this report.
TH E

B A L T IM O R E

& O H IO

R A IL R O A D

CO.

Referring to Table 18 Eighty-second Annual Report, it
will be noted that the entire equipment owned by the
Company in service June 30 1908 comprised:
1,387 L o c o m o tiv e s,
9 E le c tric M o to rs,

885 P assen ger cars,
60,762 F re ig h t a n d W o r k c a r s ------ $47,219,500 06

The following equipment was “ put out of
service” during the year through condemnation,
wreck, sale, fire and destruction on foreign roads—
15 L o c o m o tiv e s,

6 P assen ger cars,
1,335 F r e ig h t a n d W o r k cars,
h a v in g a b o o k va lu e o f _____________________
$307,152 14
T h e e q u ip m e n t w a s depreciated d u r in g the
802,317 51
y e a r_____________________________________
$1,109,409 65

which amount has been credited to the
Renewal and Replacement Accounts,
and (less salvage charged to Material
Account) charged to Operating Ex­
penses.
The Renewal and Replacement
Accounts have been charged with the
cost of equipment added during the
year as follows:
19 F re ig h t a n d W o r k c a r s __________________

3,620 41

Equipment as of June 30 1909:

N o te .— 2 P a sse n ge r cars chan ged to W o r k cars d u r in g the year.
E Q U IP M E N T C O M P A N Y .

Referring to Table 18 (page 50) Eighty-second Annual
Report, it will be noted that the entire equipment in service
June 30 1908 comprised:
249 L o c o m o tiv e s a n d 11,689 F re ig h t c a r s-----------------15 F re ig h t ca rs were “ p u t ou t of se rvice” d u r ­
in g the year, b y reason of w reck, w ith a
b o o k va lu e o f _______ _____ ______________
T h e eq u ip m e n t w a s depreciated d u r in g the
y e a r _____________________________________

----- $16,988,317 50

$16,663 60
249,960 00
$266,623 60

which amount was credited to the
Renewal and Replacement Accounts
and (less salvage charged Material
Account) charged to Operating E x­
penses.
T h e R e n e w a l a n d R e p la c e m e n t A c c o u n ts have
been charge d w ith co st of 9 fre igh t cars
add e d d u rin g the y e a r...............................
M a k in g net b alan ce credited to R e n e w a l a n d
Replacement Accounts during the year___
B a la n ce a t credit of R e n e w a l a n d R e p la c e ­
m en t A ccou n ts, June 30 1908-------------------T o w hich sh o u ld be add e d for cars o u t of se r­
vice a t Jun e 30 1907--------------------------------T o t a l a t cre dit of R e n e w a l a n d R e p la ce m e n t
A cco u n ts, J un o 30 1909.................... ........

$12,338 95
$254,284 65
379,437 94
4,655 00
$638,377 50

Accounts June 30 1909:
240 L o c o m o tiv e s a n d 11,683 freigh t cars, w ith
v a lu a tio n on E q u ip m e n t R e c o rd o f---------- 16,349,939 91
-----------------------$16,088,317 50




Th ere were p u t o u t o f service d u r in g the year,
th ro u g h w reck, c o n d e m n a tio n , lire, sale a n d
d e stroy e d on foreign roa d s, 5 L o c o m o tiv e s a n d
372 F r e ig h t a n d W o r k c a r s ___________________
T h e eq u ip m e n t w a s depreciated d u r in g the y e a r

$5,003,774117

$73,032 00
89,763 12
$162,795 12

which amount was credited to the
Renewal and Replacement Account
and (less salvage charged to Material
Account) charged to Operating Ex­
penses.
T h e R e n e w a l a n d R e p la c e m e n t A c c o u n ts were
charge d w ith co st of 1 F r e ig h t ca r a d d e d d u r ­
in g the y e a r ..................................................

280 00

M a k in g net b a la n ce credited to R e n e w a l a n d
R e p la c e m e n t A c c o u n ts for the y e a r ________
B a la n c e a t credit of R e n e w a l a n d R e p la c e m e n t
A c c o u n ts June 30 1908 ____________________

$162,515 12

B a la n ce to cre dit of R e n e w a l a n d R e p la c e m e n t
A c c o u n t s ------------------ -----------------------------------E q u ip m e n t a s of June 30 1909:

$354,208 32

191,693 20

Equipment as of June 30 1909:
168 L o c o m o tiv e s, 188 P a sse n ge r cars, 9,118
F r e ig h t a n d W o r k cars, w it h v a lu a tio n on
E q u ip m e n t R e c o rd o f ______________________ 4,649,565 85
--------------------- $5,003,774 17
M A R I N E E Q U I P M E N T ( B A L T I M O R E & O H I O R A I L R O A D C O .)
T h e a m o u n t of d eb it June 30 1908, rep re se n tin g the v a lu e of
M a rin e E q u ip m e n t a s sh ow n on G en eral B a la n c e She et
(p a ge 20) of the E ig h ty -S e c o n d A n n u a l R e p o r t, w a s ____$1,095,762 20
Th ere h a s been credited to the L ia b ilit y R e n e w a l a n d R e ­
place m en t A cco u n ts:
F o r d eprecia tion of e q u ip m e n t d u r in g the ye a r
(charged to O p e ra tin g E x p e n s e s )__________
$24,675 04
1,300 00
F o r b o o k v a lu e of B a rg e 6 9 -P , s o ld .................
$25,975 04
A g a in s t w h ic h a cco u n ts there h a s been charged
p a y m e n t a cco u n t p u rch ase of new steel t u g . .

9,000 00

M a k in g net b alan ce to cre dit of the R e n e w a l a n d
R e p la c e m e n t A c c o u n ts fo r the y e a r________
B a la n ce a t cre dit of R e n e w a l a n d R e p la c e m e n t
A c c o u n ts J u n e 30 1908 ___________________

$16,975 04

T o ta l a t credit of R e n e w a l a n d R e p la c e m e n t
A cco u n ts, Ju n e 30 1909_________ ______ «...

$27,675 04

10,700 00

Equipment as of June 30 1909:
14 S te a m L ig h t e r s a n d T u g s .
2 P ile D r iv e r s,
124 B a rge s, F lo a t s a n d Sc o w s,
1 W h a r f B o a t.
w ith v a lu a tio n on E q u ip m e n t R e c o rd o f ______ $1,068,087 16
--------------------- $1,095,762 20

$1,539,624 05

1,372 L o co m o tive s, 877 P asse n ge r cars,
9 E le c tric M o to rs, 59,448 F re igh t & W o r k cars,
w ith v a lu a tio n on E q u ip m e n t R e c o rd o f------ $45,049,015 15
•
-----------------------$47,219,500 06

& O H IO

CO.

B a la n ce to credit June 30 1908, a s a b o v e ____$1,651,121 81
E x c e ss cre dit over b o o k v a lu e of eq u ip m e n t d is ­
posed o f . ................... .............. ...................
10,742 86

T o t a l a t credit of R e n e w a l a n d R e p la ce m e n t
A cco u n ts, June 30 1909______ ______ ___ $2,170,484 91

B A L T IM O R E

& O H IO S O U T H W E S T E R N R A IL R O A D

R E N E W A L A N D R E P L A C E M E N T A CCO U N TS.
C re d its a cco u n t depreciation a n d eq u ip m e n t d isposed of, y e a r
ended Ju n e 30 1909____________________________ _________$1,564,863 41
25,239 36
D e b it s — E q u ip m e n t acqu ired d u r in g the y e a r ........................

M a k in g net b alan ce credited to Re n e w al
a n d R e p la c e m e n t A cc o u n ts d u r in g the
y e a r ---------------------- ----------------------------------$1,105,849 24
B a lan ce a t credit of R e n e w a l a n d R e p la ce ­
m ent A c c o u n ts Jun e 30 1908---------------- 1,064,635 67

THE

B A L T IM O R E

In Table 18 (page 51) Eighty-second Annual Report, it is
stated that the entire equipment in service June 30 1908
comprised:
Equipment as of June 30 1909:
173 L o c o m o tiv e s,
188 P asse n ge r C ars,
9,489 F r e ig h t a n d W o r k cars,

W A S H IN G T O N T E R M IN A L .

B a ltim o re
B a ltim o re
B a ltim o re
A ffilia te d

THE

B a la n c e to credit June 30 1908........................................ .....

1,661,864 67

G eneral L e d g e r B a la n c e a t C re d it Ju n e 30 1909__________ $3,201,488 72

IN S U R A N C E FU N D .
The value of the Insurance Fund on June 30 1908 was
$805,407 73, including $100,000 advanced by the Company.
This last amount has been returned and the value of the fund
as of June 30 1909 is $930,002 01. A summary of the
operations for the year and a statement of the assets and
liabilities are shown in Table 8.
R E L IE F D E P A R T M E N T .
The report of the Relief Department for the twelve months
ended June 30 1909 will be printed, as customary, for dis­
tribution to members. The operations of the department,
covering the Relief, Savings and Pension features, will be
found in Table 9 of this report.
The Pension Feature is maintained by the Company and
not from contributions of its employees.
C IN C IN N A T I H A M IL T O N & D A Y T O N R A IL W A Y CO.
Negotiations pending during the year have been concluded
recently and made effective July 1 1909 whereby your Com­
pany will acquire, at the expiration of seven years, at a
price then to be agreed upon or determined by arbitration,
the controlling stock of the Cincinnati Hamilton & Dayton
Railway Company.
In this connection a plan was effected for adjustment of
future interest charges and the payment or adjustment of
the floating debt of the Cincinnati Hamilton & Dayton
Railway Company and providing approximately $7,000,000
for improvements and working capital. Under this plan
your Company will guarantee $12,500,000 of the Cincinnati
Hamilton & Dayton Railway Company’s First and Refunding
Mortgage 4% 50-year bonds, dated July 1 1909 and $11,­
557,000 of that Company’s 4% notes, due July 1 1913,
secured by a deposit of $13,000,000 of the First and Refund­
ing bonds. Also, upon the acquisition under the agreement
of the stock of the Cincinnati Hamilton & Dayton Railway
Company, your Company is obligated either to purchase at
eighty-five or guarantee, $20,000,000 of that Company’s
General Mortgage bonds, due July 1 1939.
It is expected the closer relations of the Companies will be
productive of results mutually beneficial.

IM PR O V E M E N T S C H A R G E D TO INCOM E.
As appears in detail in this report and the several annual
reports beginning with 1900, there have been charged to
Income during the period from July 1 1899 to June 30 1909,
inclusive, sums aggregating $21,540,230 68 on account of
Capital Improvements and $4,961,648 88 on account of
Miscellaneous Improvements.
The existing orders of the Inter-State Commerce Com­
mission, effective July 1 1909, require that expenditures of
this character be, from that date, charged to Capital Account.
In view of this order of the Commission it seems proper to
give this summary of charges of this character made to
Income in the ten-year period since the reorganization of the
Company.
G ENERAL.
Th e general business situation throughout the country,
wh ich was so unsatisfactory at the close of last year, con­
tinued without marked improvement until near the close

of the calendar year 1908, when an improvement was noted
which has verified the hopeful views as to the future, ex­
pressed in the report of last year. The indications at this
time point to a continuous increase in business activity
throughout the coming year.
gg&HSBWSS@BE3E£!3aHga33S3E&rai

The Board record with deep regret the death, on Septem­
ber 9 1909 of Mr. Edward H. Harriman, a director since the
reorganization of the Company in 1899. The Minute
adopted by the Board with reference to the death of Mr.
Harriman will be found on page 15 of this report.
The President and Directors take great pleasure in acknowl­
edging the faithful and efficient services of the officers and
employees during the past year.
By order of the Board.
OSCAR G. M U R R A Y , President

T A B L E 2.— G E N E R A L B A L A N C E S H E E T Y E A R E N D E D JU N E 30 1909.
C o m p a riso n w ith J u n e 30 '08.

C A P IT A L ASSE TS.

In crea se.
Cost of R oad, Including Bonds and Stocks Pledged with Trustees as Security
for Funded Debt Issued:
Cost of Road_________________ ______ _________ _____________________ __________ $175 ,39 0,42 5 25
Bonds and Stocks held by Trustees_________________ ______ _______________ 182,278,854 67
---------— — ------- $357,669,279 92
Real Estate:
M iscellaneous___________________________________________________ __________ __
$3,630,796 60
Property at W ashington, D . C _________________ ___________________________
326,663 23
------------------ — —
3 ,9 5 7 ,4 5 9 83
Gas and Electric Plants..............................................................................................................................................
724,476 03
Equipment:
Rolling Stock....................................................................................... .................................$ 47,219 ,500 06
Marine Equipm ent_____ ______________ _______________________________________
1,095,762 20
----------------------—— 4 8 ,315,262 26

D ecrease.

>5,550,571 72
4,415,543 00
$3,367,644 86
256,741 31
•

1,362 37

T o ta l.
.................................. .................................................... ........... ............................ _ ................ '...................... .............. $410,666,478 04
Securities Owned:
Bonds:
Baltimore & Ohio Railroad C o__________________________________ __________
$5,072,351 77
Sundry Other Companies_________ ___________ ______ _______________________
2,387,409 11
---------------------------- $ 7 ,459,760 8 8
Stocks:
$1,219,784 44
Baltimore & Ohio Railroad Co______________________________________________
Baltimore & Ohio Equipment C o _____________________ __________________ 1,000,000 00
Sundry Other Companies______________________ ________ ___________________
3 2 ,455,253 61
--- ------------------------ 3 4 ,675,038 05
T otal________ ______ __________________________________________________________ ________________________ _______
New Bonds and Stocks Held to Retire Old Securities__________________________________________ __________________
Insurance F u n d _______________________________________________________________________ ________________________________
Materials on H and__________________________________ ___________
_ .....................................................
.
CU RRENT ASSETS.
Cash In hands of Treasurer..........................
$14,768,011 47
Cash on deposit with Fiscal Agents to Pay Coupons_________________________
5,324 20
Due by Other Companies for Advances:
Baltimore & Ohio Equipment C o........................... ......... ....................... ................ $15,988 ,317 50
Other C om pan ies_____ __________ __________ __________________________________
1,810,669 90
---------------------------- 17,798,087 40
Due by Individuals and C o m p an ies--.............- _______ _______________________ _____________________ 2 7 ,094,456 87
Traffic Balances_____ _______
999,728 54
Due from Agents________________
3 ,251,023 58
Loans and Bills Receivable________________________________________________________________________
211,893 63
M iscellaneous_______________
554,005 46

42 134,798
231,541
924,251
4 958,972

93
07
89
01

12,399.027 50
71,700 00
1,864 62
1,556,378 78

14,940 00
53,501 42
444,918 09
812,517 47
999,999 98
110,524 27
255,050 85
507,700 31
170,271 91
1,130,070 13

T o ta l.................................................................... .............................................................................................................................

64,683,431 15
$523,599,473 99

$6,648,725 67
C o m p a riso n w ith J u n e 30 '08.

C A P IT A L L IA B IL IT IE S .

In crea se.

D ecrease.

C a p ita l Sto c k :
P r e fe r r e d .............................................................................. .......... ..................... - .........$60,000,000 00
C o m m o n ....................................................................................... ........ ........................... 152,175,829 00
-------------------------$212,175,829 00
F u n d e d D e b t:
P rio r L ie n T h ree a n d O n e -h a lf P e r C e nt B o n d s _____________
$75,000,000 00
F ir s t M o rtg a g e F o u r P er Ce nt B o n d s ______ ______
75,000,000 00
$ ,
P it t s b u r g h J u n c tio n & M id d le D iv is io n P rio r Lien Th ree anti O n e -h a lf P e r C e nt B o n d s . .
13,819,650 00
9,120 00
So u th w e ste rn D iv is io n T u rc e a n d O n e -h a lf P e r C e n t B o n d s __________________________
45,000,000 00
T e n - Y e a r G o ld C o n ve rtib le D eb en tu re F o u r P e r C e nt B o n d s _________________________
139,000 00
P it t sb u rg h L a k e E rie & W e st V ir g in ia F o u r P e r C e n t R e fu n d in g B o n d s ____________
43,269,900 00
687,000 00
N e w Y o r k D iv is io n & T e r m in a l F o u r P e r C e n t B o n d s . ..........................
5,000,000 00
------------------------- 257,228,550 00

1 000,000 00

C a p ita l L ia b ilitie s Is s u e d . ________________
$469,404,379 00
M o n o n g a h e la R iv e r R R . Co. F ir st M o r tg a g e 5 % B o n d s . _______________________________
$700,000 00
W e s t V ir g in ia & P it t s b u r g h R R . Co. F ir st M o r tg a g e 4 % B o n d s _________________________
4,000.000 00
S c h u y lk ill R iv e r E . S . R R . Co., F ir s t M o r tg a g e 4 % B o n d s ___________
5,000,000 00
G ro u n d R e n t L ie n s __________________
1,223,563 73
O ld B o n d s a n d S to c k s N o t D e p o site d u n d e r P la n ______________________________________
116,008 97
M o n o n g a h e la R iv e r R R . Co. C a r T r u s t W a r r a n t s _______________________________________________________
C a p ita l

L ia b ilit ie s A s s u m e d -----------------------

T o t a l......................................................
C U R R E N T L IA B IL IT IE S .
A c c o u n ts P a y a b le for C u rre n t E x p e n d itu re s:
A u d ite d V o u c h e rs_______ ____________ ______ ____________ _______________ $1,713,728 91
P a y - R o lls a n d U n c la im e d W a g e s ______________________________________ 2,911,536 43
-----------------—
L o a n s a n d B ills P a y a b le _________________________ _____ _____ ___________ _________________
F u n d s a n d A cco u n ts of C o n tro lle d C o m p a n ie s:
... M isce llan e o u s ______ ________________________ _____ _____________________ $2,579,135 52
Tin W a s h in g t o n B ra n c h , In c lu d in g a n n u it ie s --------- ---------------------------------------980,443 99
--------------- —— ■
T r a ffic B a la n c e s___________________
M a tu re d In te re st on B o n d s U n p a i d ________________________
A ccru ed In te re st on F u n d e d D e b t .........................
D iv id e n d s on S t o c k U n p a id :
D eclared , but not due
................................................................ ............. $5,765,274 87
D u e , b u t n ot called f o r ___ .
. . . . . _____________________________
79,826 79
--------------------A ccru ed T a x e s a n d G ro u n d R e n t s ..................................................
R e lie f D e p a rtm e n ts___________________________
E q u ip m e n t R e n e w a ls a n d R e p la c e m e n ts________ ________ _____ ____________________ _
M isce llan e o u s ____________

$11,732 00
59,000 00

11,039,572 70
...$ 1 8 0 ,4 4 3 ,9 5 1 70

231,862 34
$4,625,265 34
_____________

11,660 000 00
710 446 49
514 225 20

3,559,579
1,014,618
114,872
3,578,382

51
91
88
65

5,845,101
20,212
1,997,584
3,201,488
1,077,734

66
21
18
72
86

T o t a l..................................................................................................................................................
P ro fit a n d L o s s ............................................................................................................ ............. ....................

204 128 35

583 84
768 00

7, 165 96
124, 199 93
1,731 .317 25
310 ,658 43
25,034,840 92
18,120,681 37

$523,599,473 99

255,239 14
$0,648,725 67

The above General Balance Sheet presents an accurate and true statement of the Accounts of the Company as of June 30
1909,
H. D. B U L K L E Y , Comptroller.




THE ROCK ISLAND COMPANY.
S E V E N T H A N N U A L R E P O R T — F O R T H E F IS C A L Y E A R E N D E D JU N E 30 1909.
To the Stockholders of The Rock Island Company:
The Board of Directors herewith submit their report of
the affairs of The Rock Island Company for the fiscal year
ended June 30 1909.
The “ Income Account” , “ Profit and Loss Account” and
“ General Balance Sheet” will be found below.
Changes in the company's condition during the year are
as follows:
C A P IT A L STOCK.

The $187,700 of four per cent Gold Bonds were issued
against the acquisition of 1,S77 shares of stock of The Chi­
cago Rock Island & Pacific Railway Company.
As The Rock Island Company is the owner of the entire
capital stock, except directors’ shares, of the Chicago Rock
Island & Pacific Railroad Company, the income of both
companies is included in the following statement:

J u n e 30 1009. J u n e 30 1003.
Increase.
Decrease.
Preferred—
$
$
$
$
_________
In hands of public____ 40.27 0 ,6 0 0 00 4 0 .130,300 00 131,300 00
In treasury____________ 4,720,310 00 4 ,860,700 00
__________ 131,300 00

T H E R O C K IS L A N D C O M P A N Y A N D C H IC AG O R O C K IS L A N D
P A C IF IC R A IL R O A D C O M P A N Y .

Total...........................5 4 ,0 0 0 ,0 0 0 00 54,000,000 00
C om m on—
In hands of public____ 80,021,402 50 80,733,702 50 187,700 00
_________
In treasury...................... 6,078,507 50 6,266,207 50
__________ 187,700 00
T o t a l.................... ......... 06,00 0 ,0 0 0 00 06,000,000 00

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

The increase in stock outstanding represents the acqui­
sition by the Chicago Rock Island & Pacific Railroad Com­
pany of 1,877 shares of stock of The Chicago Rock Island &
Pacific Railway Company.
Changes in the condition of Chicago Rock Island & Pacific
Railroad Company are as follows:
F U N D E D D E B T.
J u n e 30 1009. J u n e 30 1008. Increase.
Four Per Cent Gold Ponds (due
$
$
$
2 0 0 2 ) _____________________________ 70,386,700 00 70,109,000 00 187,700 00
Five Per Cent Gold Bonds (due
1 0 1 3 ) .......... .......................................... 17,364,180 00 17,364,180 00
..................
T o t a l .................................. .................. 87,750,880 0 0 87,563,180 00 187,700 00

C O M B IN E D INCO M E ACCOUNT.
&

Dividends on The Chicago R ock Island & Pacific Railway Company stock
owned—
1 X % on 702,125 shares, received O ct. 1 1 9 0 8 .$ 1 ,2 2 8 ,7 1 8 75
1 % on 702,638 shares, received Jan. 2 1009. .
702,638 00
1
on 703,436 shares, received April 1 1909 1,055,154 00
1 % on 703,801 shares, received June 30 1909 .
703,861 00
------------------------$3,690,371 75
O th e rln c o m e ...........................................................................
2 1 ,7 3 1 2 8
Total incom e............... ........................................ ....................................$ 3 ,7 1 2 ,1 0 3 03
$19,928 20
Less expenses and taxes___________________________
Less Interest on Chicago Rock Island & Pacific
Railroad Company bonds, viz.:
Four per cent b o n d s....................$ 2 ,8 1 1 ,7 6 5 36
Five per cent bonds....................
868,200 00 3 ,6 7 9 ,9 6 5 36 3,699,893 62
Balance fur current fiscal year...................... ...............................
Surplus June 30 1908------------------ ------------------------------------------

$12,209 41
457,357 72

B a la n c e ............................................. ..................... ...............................
Deduct sundry items not applicable to current year....................

$469,567 13
11,708 56

Surplus June 30 1909___ ______ ______________________________

$457,858 57

Separate detailed statements of the receipts and disburse­
ments of each company are shown below.

S T A T E M E N T OF CO M BINED INCOM E ACCOUNT OF O P E R A T E D L IN E S .
Y E U t E N D E D J U N E 30 1909, C O M P A R E D W I T H P R E C E D I N G F I S C A L Y E A R .

R o c k I s la n d L in e s .

1909.
Average

mileage

Kevcnuc from
portation:

op-

8,026.38

1908.
7,969.53

C h ic a g o & P a s t e r n
I lli n o is R a ilr o a d .

S t . L o u t s & S a n F r a n c is c o
R a ilr o a d L in e s .

1909.
5,251.06

1909.

1908.

1909.

1908.

965.68

5,064.16

E v a n s v il le A
T o rre H a u te
R a ilr o a d li n e . E v a n s v ille
& I n d ia n a p o lis R R . ) .

957.10

1908.

310.41

T o ta l o f a ll R o a d s .

1909.

310.41

1908.

14,553.53

14,301.20

trans­

37,899,356 36 25,618,875 74 23,976,296 87
Passenger............. 17,883,378 99 16,693,110 45 9,655,885 73 8,927,036 90
979,927 21
Mall .................... 1,429,829 62 1,398,173 95 1,002,335 00
1,626,931 53 1,424,183 36 1,133,291 29 1,129,153 27
543,585 43
557,149 04
701,800 51
720,280 57
Miscellaneous .......

8,005,582
1,666,981
123,001
277,606
118,127

87
00
47
03
04

8,523,380
1,680,303
120,261
248,938
117,302

97
14
44
51
74

1.29S.013
5S1.29S
60,601
47,429
87,687

99
87
94
73
28

Total transportation
revenue _______ 60,818,473 87 58,116,624 63 37,953,973 19 35,569,563 29 10,191,298 41 10,690,192 80 2,075,031 81
r.cvenue from operalions other than
78,320 58
52,538 60
18,965 34
236,568 82
241,764 47
367,572 25
366,413 08
transportation.......
Total operating rev­
enue.................- 61,184,886 95 58,484,196 88 38,195,737 66 35,806,132 11 10,269,618 99 10,742,731 40
Operating expenses—
Maintenance of way
994,709 67 1,205,711 00
and structures... 9.051,830 36 8,078,025 53 5,094,615 70 4,071,416 27
Malnt’nce of equip­
1,663,759
23 1,609,703 83
7,512,888
55
4,559,107
25
7,358,589 65 4,638,515 91
ment j ..............
197,295 38
210,011 47
Traffic expenses___ 1,441,214 58 1,486,473 58
894,874 17
833,678 98
Transportation ex­
3,926,534
63
3,035,685
77
22,848,052
39
23,600,341 75 13,294,083 88 13,663,632 92
ponses ...............
415,547 59
430,367 37
General expenses__ 1.659,509 53 1,612.749 46 1,241,924 74 1,279,450 33
Total operating ex­
penses ............... 42,513,495 41 42,136,179 97 25,164,014 40 25,007,285 75

1,439,498
570,403
59,175
37,007
83,265

14
01
30
04
11

74,080,525
29.787,544
2,615,768
3,085,258
1,469,680

76 71,838,538 34
59 27,870,853 50
03
2,557,537 90
58
2,839,282 18
32
1,459,517 40

2,189,348 60 111,038,777 28 106,565,729 32
14,720 82

705,463 47

671,400 49

2,093,997 15 2.204,069 42 111,744,240 75 107,237,129 81

26S.209 80

287,063 69

15,409,365 53

14,242,216 49

269,082 25
46,366 17

303,229 79
39,462 72

14,084,245 94
2,592,466 39

13,830,630 52
2,556,910 66

663,532 29
74,773 95

679,570 17
80,396 93

40,441,354 33
3,406,575 59

41,870,079 47
3,388,144 31

7,354,792 43

1,321,964 46

1,389,723 30 75,934,007 78

75,887,981 45

Net operating revenue 18,671,391 54 16,348,016 91 13,031,723 26 10,798,846 36
948,414 62
T a x e s ..................... 2,270,864 55 1,789,894 79 1,544.601 00

3,335,085 48 3,387,938 97
358,586 94
274,111 66

772,032 69
110,142 00

814,346 12 35,810,232 97
104,277 77
4,199,725 21

31,349,148 36
3,201,174 12

Operating Income----- 16,400,526 99 14,558,122 12 11,487,119 26
816,056 81
211,470 89
128,633 45
Other Income............

9,850,431 74
270,645 51

3,060,970 82
585,603 47

3,029,352 03
989,499 46

661,890 69
115,983 80

710,068 35 31,610,507 76
1,729,114 97
281,092 25

28,147,974 24
1,669,870 67

Total In com e........ 16,611,997 88 14,686,755 57 12,303,176 07 10,121,077 25

6,934,533 51

3,646,574 29

4,018,851 49

777,874 49

991,160 60 33,339,622 73

29,817,844 91

Interest and re n tals... 10,429,189 98 9,958,453 62 10,397,166 73 9,662,011 11 2,951,403 35
Betterments on leased
10,199 54
16,577 16
lines............. .......

2,882,623 73

602,758 35

592,048 05

23,095,136 51

24,380,518 41
16,577 16

10,199 54

Total charges........ 10,445,767 14 9,968,653 16 10,397,166 73

9,662,011 11

2,951,403 35

2.882,623 73

602,758 35

592,048 05

24,397,095 57

23,105,336 05

Balance of Income___
D iv id e n d s ..... .........

6,166,230 74
3,930,018 75

4,718,102 41
3,929,785 00

1,906.009 34
777,166 12

459,066 14
199,742 12

695,170 94
674,198 00

1,136,227 76
1,251,622 00

175,116 14

399,112 55

8,942.527 16
5,381,382 87

6,712,508 86
5,381,149 12

I stance of surplus___

2,236,211 99

788,317 41

1,128,843 22

259,324 02

20,972 94

115,394 24

175,116 14

399,112 55

3,561,144 29

1,331,359 74

Full face type denotes debit.
___
.
,
...
. . . . . . .
„
N o t e . — T o preserve comparisons the operating expenses for year 1908 are re-statcd to conform with the amended classification of the Inter-State Commerce Comm Isslon, effective July 1 1908.

CO M BINED S T A T E M E N T OF P R O F IT A N D LOSS OP O P E R A T E D L IN E S AS OF JU N E 30 1909.
Credit—
PJ’
Balance as of June 30 1908................................................................. .$ 2 2 ,8 1 9 ,1 0 2 72
Surplus for the year ended June 30 1909, as per
combined Income account (above)____ . .$ 3 ,5 6 1 ,1 4 4 29
Special Improvement and equipment fund __ 2,043,9 1 78
Sundry credits not atlcctlng current year’s
Incom e________________________ — ______ ______
02,6 3 12 5,607,669 19

m

Total credit________________________________________________ $28,516,771 91




D e bit—
Discount on securities sold, stocks and bonds
.
exchanged, and expenditures In connection
with listing and Issuing new bonds-------------..$ 2 ,0 9 0 ,4 8 2 80
;
Depreciation on tracks, structures, equipment
and other property removed, sold or destroyed2,096,662 53
Dividends applicable to prior years, paid out
of surplus as shown In report of the operating
c o m p a n y ----------------------220,523 50
Reduction In book value of property accounts
as explained In report of tne operating com.
p a n y --------------------150,000 0 0
Am ount paid for damages by fire, In a previous
•
fiscal year, to property not belonging to or
In the custody of the operating com pany____
206,977 27
Sundry debits not allecting current year’s In­
com e__________________________
27,006 06—
Total debit.............................................. ......... ................................. ..
4 ,791,742 16
Balance June 30 1 9 0 9 .................. ...................................................... $23,725 ,029 75

T H E R O C K IS L A N D C O M PA N Y.
B A L A N C E S H E E T JU N E 30 1009.
A s se ts—
Stocks owned--------------------------------------------------------- $150,012,031 42
C a s h ......................................
12,938 68
Due from companies and individuals__________
607,419 91
----------------------------$150,632,390 01
L ia b ilitie s —
Capital stock— com m on_____ $90,000,000 00
Capital stock— preferred____ 54,000,000 00
--------------------------$150,000,000 00
Due to companies and individuals.........................
548,643 50
Surplus_____ ________
83,746 51
----------------------------$150,632,390 01

P R O F IT A N D LO SS.
Surplus June 30 1908_____ _______________ - ................................................$111,963 97
Expenses and taxes________________________ $17,113 35
Sundry charges not applicable to current
year________________________________________ 11,633 31
----------------- $28,746 66
Less other Income________________________________ ______
529 20 28,217 46
Surplus June 30 1909---------------------------------------------------

$83,746 51

CHICAGO R O C K IS L A N D & P A C IF IC R A IL R O A D CO.
B A L A N C E S H E E T J U N E 30 1909.
, ,-j
A ssets—
^
Stocksow ncd__________________
$232,793,841 21
..,
Other Investments__________________________
320,631 44
"jj . • '3
Cash and cash Items............................
831,269 41
----------------------------$233,945,742 06

C a p ita l s t o c k ............... .............................. $145,000,000
F u n d e d d eb t— •
G o ld b on d s, fo u r per cent
(due 20 02 )___________ $70,386,700 00
G o ld b on d s, live per cent
(due 19 13)___________ 17,364,180 00
87,750,880
U n p a id co u p o n s__________
$62,110 00
In te re st a ccru ed (n o t due) - _
758,640 00
820,750
S u r p lu s __________________
374,112

00

00
00
06
-$233,945,742 06

P R O F IT A N D LO SS.
S u r p lu s Ju n e 30 1908......................... .................................... .$345,393 75
D iv id e n d on T h e C h ic a g o R o c k Is la n d & P acific R a ilw a y
C o m p a n y sto c k ow n e d —
1 % % on 702,125 shares, received
O ctob e r 1 1908________________$1,228,718 75
1 % on 702,638 sh ares, received
J a n u a r y 2 1909_______________
702,638 00
1
on 703,436 shares, received
A p r il 1 1909_________________ 1,055.154 00
1 % on 703,861 sh ares, received
Ju n e 30 1909__________________
703,861 00
--------------------- $3,690,371 75
O th e r In c o m e __________________________________
21,202 08
T o ta l i n c o m e . . ................................................. $3,711,573 83
E x p e n se s __________ _____________
$2,814 91
In te re st on four per cent b o n d s ___ 2,811,765 36
In te re st o n live per cent b o n d s _____
868,200 00
--------------------- 3,682,780 27
B a la n c e fo r cu rren t fiscal y e a r ________________________________
28,793 56
B a l a n c e ____________
$374,187 31
D e d u c t su n d r y ite m s n ot a p p lica b le to cu rren t y e a r ____________
75 25
S u r p lu s J u n e 30 1 9 0 0 ...........................

$374,112 06

THE CHICAGO ROCK ISLAND & PACIFIC RAILWAY COMPANY
T W E N T Y - N IN T H A N N U A L ).R E P O R T — F O R T H E F IS C A L Y E A R E N D E D JU N E JO 1909.

To the Stockholders:
.
The Board of Directors herewith submit their report of
the operations and affairs of the Rock Island Lines for the
fiscal year ended June 30 1909.
The results of the operations for the year were as follows:

motor car and 3,550 freight train cars.
pamphlet report.]

[See details in

G ENERAL.

Announcement was made last year of the completion of
T o ta l o p e ratin g revenue (Increase $2,700,­
the line of the Rock Island Arkansas & Louisiana Railroad
690 07, o r 4.6 per c e n t)__________________ $61,184,886 95
O p e ra tin g expenses (Increase $377,315 44, or
from Haskell, Ark., near Little Rock, to Eunice, La. The
0.9 per c e n t)____________________ _______ 42,513,495 41
Colorado Southern New Orleans & Pacific Railroad, with
N e t o p e ratin g revenue (Increase $2,323,374 63, or 14.2
which your line connects at Eunice, was completed in
per c e n t ) _____________________________________ _____ ___ $18,671,391 54
August 1909, and the through line into New Orleans is now
T a x e s (Increase $480,969 76, or 26.9 per c e n t ) . ___________
2,270,864 55
in operation.
O p e ra tin g In co m e
______ _____________________________ $16,400,526 99
During the fiscal year there were established in the terri­
M isce llan e o u s In c o m e ............................................................
211,470 89
tory through which your company’s rails are laid four
$16,611,997 88
T o ta l In co m e ____
hundred and two new industries, as shown in the records
In te re st a n d rentals
10,445,767 14
of the industrial department. These are estimated to have
B a la n c e of Incom e, after p ro v id in g for a ll charge s, b ein g 8.2
cost over eight millions of dollars, to employ over eleven
per cent on ca p ita l sto c k ($75,000,000 0 0 )______________$6,166,230 74
thousand persons, and to create a movement of over fiftyD iv id e n d s p a id (5 M per cent on ca p ita l s t o c k )____________
3,930,018 75
------------ seven thousand car-loads annually.
B alan ce , su rp lu s, for the y e a r (Increase $1,447,894 58, or
Three new side tracks were built to coal mines and eighty183.7 per c e n t ) . . . ...................... ........ .......... ................. $2,236,211 99
two to private industries; extensions were added to three
To afford proper comparison, the percentages of increase
mine tracks and to twenty-one tracks to other industries.
are computed on basis of last year’s figures revised according
The work of installing automatic block signals between
to modifications in classification of operating expenses pre­
Davenport and Muscatine, la., Davenport and Iowa City,
scribed by the Inter-State Commerce Commission effective
la., and between Topeka and Herington, Kan., has been
July 1 1908.
completed during the year. Signals for 232 miles of main
For comparative income account in detail, see table below.
line in the State of Iowa are being installed. At June 30
C A P IT A L STOCK.
1909 346 miles of main line were protected by automatic
The capital stock of the company outstanding at the close block signals, at a cost of $456,359 09.
At the close of the year the telephone system of train
ofjithe previous fiscal year was $74,859,600 00, and is un­
dispatching had been installed on 419.5 miles of your line
changed at June 30 1909.
at a cost of $33,214 14, and authority had been given for
F U N D E D D EBT.
181 additional miles, for which material has been purchased
During the year the funded debt increased $3,775,000 00, and work is in progress.
equipment notes decreased $1,051,541 00 and the two-year
For the completion of the additional and improved termi­
notes for $6,000,000 00 were paid April 1 1909, making a nals mentioned in the reports of the last two years, and for
net decrease in funded and other fixed interest-bearing new facilities of a similar nature, your company lias expended
debt of $3,276,541 00.
during the current fiscal year $644,307 32.
Of the large increase in taxes, amounting to $480,969 76,
FR A N C H IS E S 'A N D P R O P E R T Y .
or 26.87 per cent, $16,490 49 is in the State of Arkansas,
The cost of franchises and property increased $1,039,­ $13,377 23 in Louisiana, $14,732 94 in New Mexico and $436,­
815 01, details being shown on another page. There were 548 89 in Oklahoma. The remainder, comprising smaller
also expended $2,602,558 18 for additions and improve­ increases and decreases, is distributed over the other States
ments [for particulars see page 19 of pamphlet report].
in which your road operates. In Arkansas and Louisiana
the valuations during the preceding year were low because
N E W L IN E S CONSTRUCTED.
Of the line between Amarillo, Tex., and Tucumcari, N. M., of newly constructed road; in New Mexico no taxes are
which has been shown as under construction by the Chicago assessed against railroads until five years after they have
Rock Island & Gulf and Chicago Rock Island & El Paso been placed in operation, therefore the first taxes on your
Railway companies, 12.11 miles west from Wildorado to line in that State were for the calendar year 1908, causing
Vega, Tex., were placed in operation March 17 1909, 1.97 the report for last year to show only one-half the annual
miles to Ontario, Tex., were placed in operation May 1 and taxes, while this report includes taxes for an entire year.
5.92 miles west of Ontario on May 15 1909. The line is In Oklahoma the taxes assessed are for a period of consider­
laid with 60-pound steel rail. Standard station buildings ably more than a year, are the first assessed by the new
State, and, it is thought, will later be substantially reduced.
have been completed at Bush and Wildorado, Tex.
Your company advanced, during the year, towards the
N E W E Q U IP M E N T .
construction, equipment and operating deficit of the Trinity
Orders have been placed during the year for 100 passenger & Brazos Valley Railway $651,685 60, making the total ad­
train cars of steel construction, 60 caboose cars, 2 service vances to June 30 1909 $1,936,640 86, of which $697,247 69
cars, 35 locomotives and 1 passenger motor car. There were was reimbursed out of the proceeds of bonds of the Colorado
received and placed in service 33 locomotives, 1 passenger & Southern Railway Co., leaving $1,239,393 17 outstanding
train car, 2 service cars and 2 motor cars (1 ordered last advances as of June 30 1909.
year), and 1 service car has been built. In addition to the
Advances during the year for Galveston, Tex., terminals
foregoing there have been ordered, since July 1 1909, for were $89,563 26, making the total advances to June 30 1909
delivery in 1909 and 1910, 50 locomotives, l passenger $471,673 70. First mortgage six per cent bonds of the




Galveston Terminal Railway Company were received in
settlement of $450,148 70, leaving $15,525 00 outstanding
advances as of June 30 1909.
Advances during the year for Houston, Tex., terminals
were $06,300 14, making the total advances to June 30 1909
$303,102 13. First mortgage bonds of the Houston Belt &
Terminal Railway Company were received in settlement of
$277,009 55, leaving $25,432 58 outstanding advances as of
June 30 1909.
In consequence of the supervision of the company’s ac­
counts now exercised by the Inter-State Commerce Com­
mission, and the fact that these accounts are kept in strict
accordance with the regulations prescribed by the Com­
mission, it has been deemed by your directors unnecessary
to incur the expense of having them certified by an inde­
pendent auditor. Regular monthly income accounts, veri­
fied, under oath, by the President and General Auditor of
the company, have been duly filed with the Commission,
and the annual report with sworn verification has also been
filed as required by law.
B y order of the Board of Directors,

In c.

( + ) o r D e c . (— ) .

1908-09.
1907-08.
A m ou n t.
P ercen t.
S
$
S
N e t o p e r a t i n g r e v e n u e . 18,671,391 54 16,348,016 91 + 2 ,3 2 3 ,3 7 4 63 + 1 4 .2 1
l a x e s ...................... 2,270,864 55
1,789,894 79
+ 4 80 ,9 09 76 + 2 6 .8 7
O perating in co m e____ 16,400,526 99

14,558,122 12 + 1,842,404 87

Outside operations
(debit balan ce).d eb.146,201 11 d e b .92,727 28
Hire of equipment
(debit balan ce).d eb.812,116 05d eb.912,279 3 5
Other Income--------- 1,169,788 05 1,133,640 08
Total

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

211,470 89

Total In co m e___ 16,611,997 88

— 53,473 83 — 57.67
+ 100,163 30
+ 36,147 97

128,633 45

+ 10.98
+ 3.19

+ 82,837 44

+ 64.40

14,686,755 57 + 1,925,242 31

+ 13.11

I n t e r e s t ........................... 8,861,223 05
R e n t a l s ----------------------- 1 ,567,966 93
B etterm ents on leased
l i n e s ----------------------16,577 16

8,413,221 92
1,545,231 70

Total ch arges...1 0 ,4 4 5 ,7 6 7 14
B a lan ce o f incom e (.avail­
able fo r d ivid en d s). 6 ,166,230 74
D iv id e n d s ------------------- 3 ,930,018 75

+ 12.66

+ 448,001 13
+ 22,735 23

+ 5.32
+ 1.47

10,199 54

+ 6,377 62

+ 62.53

9,968,653 16

+ 477,113 98

+ 4.79

4,7 1 8 ,1 0 2 41 + 1,448,128 33
3,9 2 9 ,7 8 5 00
+ 233 75

+ 30.69
+ .01

r ie d to cr ed it o f p r o fit

B. L. W IN C IIE L L ,
President.

October 15 1909.

a n d l o s s ) ...............

2,236,211 99

788,317 41

+1 ,4 4 7 ,8 9 4 5 8 + 1 8 3 .6 7

D iv id e n d s D e c la r e d D u r in g Y e a r en d ed J u n e

30 1909.

I N C O M E A C C O U N T Y E A R E N D E D J U N E .30 1009, C O M P A R E D W I T H
P R E V IO U S Y E A R .
I n c . ( + ) o r D e c . (— ) .
A v e ra g e m ileage operr.
Itev en u c fr o m
T
p o r ta tio n —

$
.39,158,053
.17,883,378
. 1,429,829
. 1,626,931
.M is c e lla n e o u s ____.
720,280

16
99
62
53
57

1907-08.
7,969.53
$
37,899,356
16,693,110
1,398,173
1,424,183
701,800

300,413 08

$
36 + 1,258,696
45 + 1,190,268
+ 3 1 ,6 5 5
95
+ 202,748
36
51
+ 18,480

80
+ 3.32
54
+ 7.13
67
+ 2.20
17 + 14.24
06
+ 2.63

+ 2,701.849 24

367,572 25

■ f 4,65

— 1,159 17

r-01,184,886 95 58,484,196 88

— .32

+ 2,700,690 07

+ 4.62

8,078,025 53

+ 973,804 83

+ 12.05

7,358,580 65
1,486,473 58

+ 154,298 90
— 45,259 00

+ 2.10
— 3.04

.22,848,052 3’9 23,600,341 75
. 1,659,509 53
1,612,749 46

— 752,289 36
+ 46,760 07

— 3.19
+ 2.90

e x p e n s e s .------ '12,513,405 41 42,130,170 07

+ 3 7 7 ,3 1 5 44

+ .9 0

• O p e r a tin g e x p e n s e s —

M a in te n a n ce of we y
a n d stru ctu re s. . 9,051,830 36
M a in te n a n ce
of
- 7,512,888 55
. 1,441,214 58

u i-a i

CO N D EN SED

GENERAL

per c e n t ._____________________

A m o u n t. P e r c e n t .
+ 56.85
+ .7 1

-60,818,473 87 58,116,624 63
n
-

748,575 00
T o t a l -----------------5 K

1908-09.
8,026.38

P R O F IT A N D

L ess—
D isc o u n t, co m m issio n s a n d e x ­
penses o n sto c k s a n d b on d s
Issu e d a n d so ld , a n d expenses
on o p tio n can celed ___________$1,567,436
D e p re cia tio n on:
T r a c k s rem oved ............
$49,054
Stru ctu re s so ld , rem oved or
d e stroy ed ________________
36,623
E q u ip m e n t so ld o r d e stro y e d .
887,602

A m o u n t pa id for d a m a ge b y fire
to p ro p e rty a t C h lck a sh a ,
O k la ., A p r il 11 1907, not b e­
lo n g in g to or In the cu sto d y
of y o u r c o m p a n y ____________
B e tte rm e n ts on leased lines p rior
to cu rren t fiscal y e a r ---------------

■ C a p i ta l A s s e t s —

W e s te rn R a ilro a d C o ___
R o c k Is la n d Im p ro v e m e n t
Co ., eq u ip m e n t purchase
under in d en ture of Feb. 1
A m e ric a n L o c o m o tiv e Co.,
eq u ip m e n t purchase under
Indenture of O ct. 15 1907.

$

$

F ra n c h ise s a n d p r o p e r ty .-.250,725 ,4 42
A d d itio n s a n d Im p rove m en ts,
2,602,558
A d v a n c e s for co nstruction
5,637,214
R e a l esta te ________________
641,996
In v e stm e n t a cco u n t— stocks
representing ow n e rship of
R o c k Is la n d L in e s In sun1,795,575

In c. ( + ) or
D e c . (— ) .

$

89 249,685,627 88

T o t a l___

93
37
49
65

$973,280 51

206,977 27
11,375 21 2,759,069 92

1,608,138 46

C O M P A R IS O N

W IT H

P R E V IO U S

YEAR.

L IA B IL IT IE S .
In c . ( + ) or
1909.
1908.
D e c . (— ).
$
5
$
C a p ita l s t o c k ............
75,000,000 00 75,000,000 00
F u n d e d d e b t----------------------- 195,625,000 00 191,850,000 00 + 3 ,7 7 5 ,0 0 0 66
E q u ip m e n t n o t e s --------------5,900,000 00
6,951,541 00 — 1,051,541 00
C o lla te ral tru st go ld notes,
due A p r il 1 1909 (extended
o n c y e a r f r o m A p r il 1 1908) ........ ..........
6,000,000 00 — 6,000,000 00
C a p ita l L ia b ilitie s —

+ 1 ,0 3 9 815 01

18

3,902,698 07 — 1,300,130' 89

10
52

4,093,461 58 + 1,543,752 52
641,991 02
•f* 5 50

38

1,950,422 39

9,120,551 23

9,120,551 23

7,892,369 90

7,892,369 90

T o t a l ........................ .......276,525,000 00 279,801,541 00 — 3,276,541 00

774,221 61

— 154,847 01

782,055 00

— 7,833 39

79,189,929 81 278,069,177 07

+ 1,120,752 74

C u rren t A s se ts—

S ta tio n a gen ts & co nd uctors
C o m p a n ie s a n d in d iv id u a ls
E x p re ss c o m p a n ie s______ _
U n ite d Sta te s P o st Office
D e p a rtm e n t ___________
A d v a n c e s tor construction ,
equipm en t, & c., fun dab le
L o a n s an d bills re c e iv a b le ..
F irst a n d re fu n d in g m o r t­
gage gold b o n d s— pledged
a g a in s t notes p a ya b le .
B o n d s, & c.. In treasuryunpled ged .................... _
S to c k s In tre asu ry — u n ple d ged
A ccru e d Incom e from In ­
vestm en ts _____________
P re p a id In surance ________
M a te ria l a n d s u p p lie s . .......

$4,367,208 38

C re d it b alan ce Ju n e 30 1909................................................. $17,767,260 51

B A L A N C E S H E E T J U N E 30 1909 A N D

1908.

LO SS.

C re d it b alan ce Ju n e 30 1908 ......................................
*16 15 9 122 05
S u r p lu s for ye a r ended Ju n e 30 1909_______ $2,236,211 99
’
’
Sp e cia l Im p ro v e m e n t a n d eq u ip m e n t fu n d ____ 2,043,911 78
S u n d r y a d ju stm e n ts n ot afle ctln g cu rren t y e a r ’s
In c o m e ...................... ................. ................
87,084 61

ASSETS.

1909.

-$3,930,018 75

09
1,792,960 82
2,851,914 17
103,118 26

2,485,735
1,865,914
3,094,647
348,052

98
15
17
38

+ 725,372
— 72,953
— 242,703
— 244,034

11
33
00
12

120,260 22

356,662 62

— 236,402 40

500,632 31
3,693,785 55

711,060 89
3,283,019 99

— 210,428 58
+ 410,765 56

4,606,500 00 --4 ,6 0 6 ,5 0 0 00
9,609,251 21
925,542 11
233,323 16
147,915 23
5,724,800 61
18,914.641 74

14,918,133 71 -— 5,308,882 50
921,131 23
+ 4,410 88
194,076 27
166,891 62
5,256,578 68

+ 39,246 89
— 18,976 29
+ 468,221 93

38.208,404 59 --9 .2 9 3 ,7 6 2 85

C u rren t L ia b ilitie s—

U n p a id vou chers a n d d ra fts
U n p a id w a g e s ....................
T ra ffic b a la n ce s___________
In te re st, re n tals a n d d iv i­
den ds d ue J u ly 1 _____ _
T a x e s a ccru ed (n o t d u e ) . .
In te re st a n d re n tals accrued
(not d u e )-----------------------In te re st co u pon s d ue a n d
n ot presen te d ________
D iv id e n d s d ue a n d n o t called
f o r ____________________
B o n d s m atu re d , n ot p re­
sented _________________
N o te s p a y a b le --------------------

2,654,993 79
2,131,475 38
303,274,07

4,489,081 52 — 1,834,087 73
1.983,342 09
+1 4 8 ,1 3 3 29
d e b .2,183 40
+ 3 0 5 ,4 5 7 47

2,618,679 00
1,024,399 04

2,372,904 00
1,124,040 37

1,567,647 21

1,485,547 67

+ 82,099 54

58,160 00

284,527 50

— 226,367 50

5,986 32

+ 781 75

6,768 07

+ 245,775 00
— 99,641 33

3,000 00
1,590,’666 66

7,900 00
-4,900 00
3,520,000 00 — 1,930,000 00

T o t a l .................... ......... - 11,958,396 56

15,271,146 07 — 3,312,749 51

D e fe r r e d L ia b ilitie s —

O p e n c a r r y in g a cco u n ts li 1
process of a d ju stm e n t. . .

355,418 94

d e b .69,829 87

.

222,'732 25

222,732 25

.

578,151 19

152,902 38

T o t a l.

+ 425,248 81

+ 425,248 81

.289,061,547 75 295,225,589 45 — 6,164,041 70
P r o v is io n a l A c c o u n ts —
R eserve fo r replacem e n t f
e q u ip m e n t ______________.
In su ra n c e f o n d ______
.
H o s p ita l f u n d _______
.
Sp e cial Im p ro v e m e n t
1

779,527 51
440,532 37
55,703 41

2,366,011 38 — 1,586,483 87
436,285 63
+ 4,246 74
47,401 63
+ 8,301 78

1,275,763 29

4,892,870 16 — 8,617,106 87

2,043,171 52 — 2,043,171 52
.
G r a n d to ta l lia b ilitie s (in
e lu d in g p ro v isio n al ac290,337,311 04 300,118,459 61 — 9,781,148 57
. 17,767,260 51
16.159,122 05 + 1,608,138 46
G r a n d total

........... .308,104,571 55 310,277,581 66J— 8,173,010 11

.308,104,571 55 316,277,581 66 — 8,173,010 11

I n st a tin g the assets a n d lia b ilitie s of the co m pan ies fo r m in g the R o c k Is la n d L in e s, the h o ld in gs of T h e C h ic a g o R o c k Is la n d & P a cific
R a ilw a y C o m p a n y In the b on d s a n d ca p ita l sto c k of the a u x ilia r y lines, together w ith lo an s betw een the v a rio u s co m pa n ies, h ave been elim in ate d from
the liabilitie s, a n d a like red u ction m ade In the assets p e rta in in g thereto: the figures sh o w n , therefore, represent the b o o k va lu e of the a sse ts a n d t h e
la b ilitie s w ith o u t d u p lica tio n .
N o tc .—




F I N A N C I A L C H A N G E S D U R I N G Y E A R E N D E D J U N E 30 1000.

R ESO URCES.
C a sh on h a n d Ju n e 30 1008 -----------------------------------------------------------------------------------------------F u n d e d d e b t In c re a se d --------------------------------------------------------------------------------------------------------F ra n c h ise s a n d p ro p e rty (decrease) —
A d d it io n s a n d Im p ro v e m e n ts for y ea r ended Ju n e 30 1008, tran sferre d to fran ch ises
a n d p ro p e rty __________________________________________________________________
L e ss, Increase In oth er fran ch ises a n d p r o p e r ty ______ _______________________________

$2,485,735 98
$3,775,000 00
$3,902,698 07
1,039,815 01
2,862,883 06

In v e s t m e n t a c c o u n t— sto c k s repre sen tin g ow n e rsh ip of R o c k Is la n d L in e s In s u n d r y p r o p ­
erties (decrease)_____________________________________ ______ _______________________
A m e ric a n L o c o m o tiv e C o m p a n y , eq u ip m e n t pu rch ase u n d e r In d e n tu re of Aug'. 15 1007
(d e c re a se )_________________________________________________________________________
N e t cre dit to profit a n d loss a c c o u n t __________________________________ _____ _____________

154,847 01
7,833 39
1,608,138 46

$8,408,701 92

C h a n g e s In curren t a ccou n ts, a s follow s:

‘

D ecrea se in assets—
S t a t io n a g e n ts a n d c o n d u c to rs--------------- ----------------------------------------------------C o m p a n ie s a n d In d iv id u a ls ______________________________________________
E x p re ss c o m p a n ie s______________________________________________________
U n it e d S ta te s P o s t O ffice D e p a r tm e n t ---------------------------------------------------------A d v a n c e s for co n stru c tio n , eq u ip m en t, & c., fu n d a b le ____________________
F ir s t a n d re fu n d in g m o rtg a g e g o ld b o n d s— p led ged a g a in s t notes p a y a b le .
B o n d s, & c., In tre a su ry — u n p le d g e d ---------------------------------------------------------P r e p a id In su ra n c e ---------------------- ------------------------------------------------------------------

$72
242
244
236

953
,703
,934
,402
210 ,428
4,606 ,500
5,308 882
18 976

33
00
12
40
58
00
50
29

$148
305
245
82

29
47
00
54
75
81

$10,941,780 22
In crea se in liab ilities—
U n p a id w a g e s____________________________ ______
T r a f fic b a la n c e s_________________________________
In te re st, re n tals a n d d iv id e n d s, due J u ly 1 _____
In te re st a n d re n tals accrued (not d u e ) ----------------D iv id e n d s due a n d n ot called f o r ________________
O p e n c a rry in g a cco u n ts In process of a d j u s t m e n t .

,133
,457
,775
,099
781
425 ,248

,207,405 86
In crea se in provision a l accounts—
In su ra n c e f u n d ___________ __________. _______ —
H o s p it a l f u n d ________________ ___________________

246 74
301 78
12,543 52
$12,161,824 60

L e s s — in crea se in assets—
L o a n s a n d b ills re ce iv a b le .... ..........
S t o c k s in tre a su ry — u n p le d g e d _____
A ccru e d In com e fro m In v e stm e n ts.
M a te ria l a n d su p p lie s_____________

$410,765
4,410
39,246
468,221

56
88
89
93

$922,645 26
D ecrea se in liab ilities—
U n p a id v o u c h e rs a n d d r a f t s ........... .......
T a x e s accrued (n o t d u e )--------- ---------------In te re st co u p on s due a n d n ot presented.
B o n d s m atu re d , n ot p resen te d — .........
N o te s p a y a b le ------------------------------------------

$1,834,087
99,641
226,367
4,000
1,930,000

73
33
50
00
00

$4,094,996 56
D ecrea se in p rovision a l accounts—
R e se rve for replacem e n t of e q u ip m e n t.
equip
S p e c ia l Im p ro v e m e n t a n d' eq
u ip m e n t fu n d .

$1,586,483 87
2,043,171 52
$3,629,655 39

8,647,207 21

A P P L IE D

AS

11,923,229 31

3,514,527 30

$14,408,965 29

T o t a l to be accou n ted fo r.
FO LLOW S.
$2,602,558
1,543,752
5
1,051,541
6 , 000,000

A d d it io n s a n d im p ro v e m e n ts, current ye a r (total) —
A d v a n c e s fo r co n stru c tio n a n d e q u ip m e n t (increase).
R e a l estate (In cre a se )__ _____ _______________________
E q u ip m e n t n otes decre ased -----------------------------------------C o lla te ra l g o ld tru st notes, due A p r il 1 1000, decreased .

18
5
50
00
00

11,197,857 20
$3,211,108 00

B a la n c e , ca sh on h a n d Jun e 30 1009 ________________

FUNDED

A N D O T H E R F IX E D

IN T E R E S T B E A R IN G

D E B T — C H A N G E S D U R I N G Y E A R E N D E D J U N E 30 1909.

F u n d e d d ebt, e q u ip m e n t a n d other notes, Ju n e 30 1008:
F u n d e d d e b t (In clud es $4,944,000 first a n d re fu n d in g m o rtg a g e g o ld b o n d s pledged
a s se c u rity fo r n o te s)-------------------- ------------------------------------------------------------------------E q u ip m e n t n o te s______________________________ _______ _____ ______ _______________
C o lla te ra l tru st g o ld notes due A p r il 1 1909 _______ _____ ____ _____ ________________

$191,850,000 00
6,951,541 P0

6 , 000,000 00

$204,801,541 00

T o t a l ............. .......... ........ ........................ ........... ............................. ..................
T h is h as been ch a n ge d d u rin g the y ea r a s follow s:
F u n d ed debt in creased—
B y the Issue of T h e C h ic a g o R o c k Is la n d & P a c ific R a ilw a y C o m p a n y ’s first a n d re fu n d ­
in g m o rtg a g e go ld b o n d s, viz.:
F o r a d d itio n s, Im p ro v e m e n ts a n d eq u ip m en t, 1909 f u n d ________________________
F o r a n eq u a l a m o u n t of general m o rtg a ge go ld b o n d s, Issu e d J an . 1 1909, for a d d i­
tio n s a n d Im p ro v e m e n ts, sa id general m o rtg a ge go ld b o n d s h a v in g been de­
p o site d w ith trustees of first a n d re fu n d in g g o ld b on d m o r t g a g e ---------------- F o r red e m p tio n of m atu re d o b lig atio n s:
T h e C h ic a g o R o c k Is la n d & P acific R a ilw a y C o m p a n y ’s g o ld b o n d s of 1902,
series G , m atu re d M a y 1 1909 _________________ ____ ________________
C h o c ta w O k la h o m a & G u lf R a ilr o a d C o m p a n y ’s e q u ip m e n t tru st notes, m a ­
tu red a s follow s:
A u g u s t 1 1008, Series B ____________________________________ _______ _
! : ,
A p ril 1 1009,
Series C ........................................................ ............. .

$2,500,000 00

1,000,000 00
1,494,000 00
$75,000 00

220,000 00

295,000 00
$5,289,000 00

L ess:
B y the re d e m p tio n of m atu re d o b lig a tio n s, a s follow s:
T h e C h ic a g o R o c k Is la n d & P a cific R a ilw a y C o m p a n y ’s go ld b o n d s of 1002, m a ­
tu red M a y 1 1909____________________________________________________ _____ $1,494,000 00
2 0 ,0 0 0 00
L it t le R o c k B rid g e C o m p a n y ’s b on d s, m a tu re d J u n e 1 1 9 0 9 ------------------- ------E q u ip m en t notes decreased—
B y the re d e m p tio n of m atu re d o b lig a tio n s a s follow s:
T h e C h ic a g o R o c k Is la n d & P a c ific R a ilw a y C o m p a n y ’s e q u ip m e n t 4 M % go ld
notes, m atu re d a s follow s:
A u g u s t 1 1908------------------------------------------- ---------------------------------------F e b ru a ry 1 1909-------------------- ------------------------------------------------------------

$325,000 00
325,000 00

T h e C h ic a g o R o c k Is la n d & P a c ific R a ilw a y C o m p a n y ’s e q u ip m e n t series B 6 %
notes, m atu re d a s follow s:
O c to b e r 15 1 9 0 8 . . . --------------------------------------------------------------------------------A p r il 15 1909-------------------------------------- ----------------------------------------------------

$46,541 00
60,000 00

C h o c ta w O k la h o m a & G u lf R a ilr o a d C o m p a n y ’s e q u ip m e n t tru st notes a s a b o v e .

1,514,000 00

$3,775,000 00

$650,000 00

106,541 00
205,000 00
$1,051,541 00

C ollateral trust notes, due A p r il 1 1909, decreased:
B y the red e m p tio n of these notes A p r il 1 1909.......................................... ................
•

6 ,000,000 00

7,051,541 00

3,276,541 00

N e t decrease in fu n de d a n d other fixed In te re st-b e a rin g d eb t.

F u n d e d d ebt a n d e q u ip m e n t notes Ju n e 30 1909:
lit F u n d e d d e b t -----------------------------------------------------------------------------------------E q u ip m e n t n o te s-------------------------------------------------------- -------------------------L T o t a l .......................................................................................




$105,625,000 00

5 , 000,000 00
$201,625,000 00

F R A N C H I S E S A N D P R O P E R T Y — C H A N G E S D U R I N G Y E A R E N D E D J U N E 30 1909.
B a lan ce Ju n e 30 1908, as p er b a la n ce s h e e t ------------------------------------------------------------------------------------------------------------------------------------ ----------- ----------------3 2 4 9 ,0 8 5 ,6 2 7 88
C ost o f a d d itio n s a n d Im p ro ve m e n ts fo r y e a r e n d e d Jun e 30 190 8. tra n sfe rre d t o fra n ch ises a n d p r o p e r t y ............... .............................................
C H A N G E S D U R IN G T H E

3 3 ,9 0 2 ,0 9 8 07

YEAR—
3122 00
15,123 56
2 0 ,4 0 5 41

n
i
f
o
r
c o n s tr u c tio n a n d cciu lo m e n t o f R o c k Isla n d A rkansas & L o u isia n a R a ilr o a d C o m p a n y ’s p r o p e r t y ------n ish n rsp m cn ts fo r o?d co n s tr u c tfo n Il^ lW tie s of the C h o cta w O k la h o m a & G u lf R a ilr o a d C o m p a n y - - - - - - ............. ...........
D isbu rsem en ts fo r a d d itio n s an d im p ro v e m e n ts t o m ines o f th e C h o cta w O k la h o m a & G u lf R a ilro a d C o m p a n y . _
.
D isbu rsem en ts fo r c o n s tr u c tio n o f tra ck fr o m T . & P . crossin g, D allas, T e x ., t o c o n n e c tio n w ith H . & T . C. R R . , D allas,
‘ Tex
D is b u r s e m e n ts "fo r a d d itio n a l a n d im p ro v e d e q u ip m e n t—
1 W r e c k in g cran e ---------------------------------------------------------------------------------------------------------------------------------------i V a l VI

1 Steam locomotive hoist crane--------------------------------------------------------------------------------------------

1 Scale test ca r (b u ilt a t s h o p s ) --------------------------------------------------------------------------------------------------------------

I ’PjS

1>147 10

N ew a p p lia n ces fo r e x is tin g e q u ip m e n t, re q u ire d b y F ed era l a n d S ta te l a w s ...................... ............547 ,000 54
O th er new ap p lia n ce s fo r e x is tin g e q u ip m e n t------------------------------------------------ ----------------------------------

S20

1,153 20

9 26 74

/4

53,242 90

7 4 ,169 64
5 11 7,03 3 81

^ D ed uctions—

$64 100 00

V a lu e*of fte ^ l p m e n t t d e s t r o y c d / d ism a n tle d o r so ld d u rin g th e p a st W 0,
w h ic h , u n d er m ortg a ge s o r e q u ip m e n t tru st agreem en ts, m u st b e r e p la c e d ). S u ch v a lu e , less sa lv a g e ,
w as ch a rged t o op e r a tin g e xp en ses an d p ro fit a n d lo s s ----------------------------------------------------------------------------------- 2 ,9 0 7 ,8 0 8 83
A d ju s tm e n t or e rron eou s charges to fra n ch ises an d p r o p e r t y - .......... ....................... - ............................................................
8 ,0 0 8 04 2 ,9 7 9 ,9 1 b » 7
T o ta l ch an ges d u rin g th e y e a r (d e c r e a s e )---------------------------------------------------------------------------------------------------------------------------------------------- cre d . 2,86 2 ,8 8 3 06
T ota l Increase In fra n ch ise s a n d p r o p e r t y .....................................................................................- .............................................................................. ............

3 1 .0 3 9 .8 1 5 01

B a la n ce, Jun e 30 190 9, as p e r b a la n ce s h e e t-------------- --------------------- --------------------------------------------- — ..................... .......................................... 5 2 5 0 ,7 2 5 ,4 4 2 89

ST. LOUIS & SAN FRANCISCO RAILROAD COMPANY.
T H IR T E E N T H A N N U A L R E P O R T — F O R T H E F IS C A L Y E A R E N D E D JU N E 30 1909.

To the Stockholders:
, , , .
, , .,
The Board of Directors herewith submit their report ot the
operations and affairs of the St. Louis & San Francisco Rail­
road Company’s Lines (exclusive of the Chicago & Eastern
Illinois Railroad) for the fiscal year ended June 30 1909.
The results of operation for the fiscal year were as follows:
0 mML7%)

- - - - - - -C05 1 5-’538,195,737 66

O p era tin g exp en ses (Increase 315 6,72 8 6 5 , or
6-10 o f 1 % ) ............................................................... 2 5 ,1 6 4 ,0 1 4 40
N et op e r a tin g reve n u e (Increase 3 2 ,2 3 2 ,­
876 9 0 , o r 2 0 . 7 % ) ------------------------------------------------------------ nn
1,544,604 00
T a x e s .............— .......................................................... ................ ..............
M iscellaneous In c o m e -------------------------------------------------------- ---------

5 1 1 ,4 8 7 ,1 1 9 26
1,400,791 78

Tntnl In com e
_________________________________ $12,896 ,91 1 04
2KSK.
n ttals
S l s aanndd o'ther
h a r g e s ______________________ 11,56 8 ,3 2 5 70
In te
r e s t, «ren
o th e r fixed ccharges
Net in com e a fte r p r o v id in g fo r a ll c h a r g e s --------- ---------------- 51 .3 2 8 ,5 8 5 34
D iv id e n d s p a id — 4 % o n first preferred s t o c k ---------------- ---------199,742 12
Surplus carried t o p ro fit a n d lo s s ----------------------------------------------

$ 1 ,128,843 22

A comparative Income Account showing the increase or
decrease for the year of each class of earnings and expenses
will be found below.
M IL E A G E O P E R A T E D .
The average main track mileage operated during the year
was 5,251.06 miles, being an increase over the average mile­
age operated in preceding year of 186.90 miles.
T h e to ta l m ilea ge op era te d a t Jun e 30 1909 w a s ---------------------5 ,2 5 3 .4 9 m iles.
B ein g an increase o v e r preceding y ear o - ---------------189.33
“
T h is Increase Is d u e t o th e ta k in g o v e r fr o m c o n s tr u c tio n as
Beau°m ontySour9L a k e e& W e ste rn R a ilw a y -------------------------------

Orange & N o rth w es te rn R a i l r o a d ----------------------------------------------

A n d as o f S e p te m b e r 21 1908, th e —
C a rr o llto n -Ir v ln g C u t-O ff (u n d e r tra ck a g e a g r e e m e n t)----------T ota l

In crease------------------------ ---------------------------------------------

116.84
6 1 .5 5
10-94

"55
‘
•

189 .33 m iles

For details of the Main Track Mileage owned, operated
and under construction at June 30 1909 see pages 74, 75 and
76. (See pamphlet report.)
C A P IT A L STOCK.
There were no changes during the year in the amount of
capital stock issued and outstanding. The amount remains
the same as at the reorganization of the Company in 18J6.
F U N D E D D E B T A N D E Q U IP M E N T BONDS AN D
t-rn- •
•
*•*..
NOTES.
T h e to ta l fu n d ed d e b t a t Jun e 30 1908 w a s . $ 1 8 9,89 0,7 17 74
T h e t o ta l eq u ip m e n t tru st b o n d s a n d n o te s
a t Ju n e 30 1908 w a s ______________________
17,66 8 ,6 8 2 19

T o t a l ............................................................ . .. 7 7 7 1 7 1 7 1 .............. 214 ,3 7 3 ,1 7 1 29
$ 6 ,8 1 3 ,7 7 1 3 6

$999,900 of the five-year 4 Y i% notes due Dec. 1 1908 were
redeemed on that date and the balance, $6,125,000, were by
agreement extended for one year to Dec. 1 1909. (The ex­
tended notes were paid on Aug. 6 1909.)
Cash for the redemption at maturity of $15,529,928 93
St. Louis Memphis & Southeastern Railroad Company fiveyear 4 y ,% gold bonds was deposited prior to June 1 1909
with the Bankers’ Trust Company, New?-York. A t Aug. 31
1909 all but $62,000 had been presented and paid.
$35,000,000 of the general lien 5% gold bonds were sold
during the year, and the proceeds applied to the payment of
matured underlying lien bonds, equipment obligations and
floating debt.
,
.
.
,
There will be found below statements showing in detail
the amount of new issues as well as the amount of bonds and




G ENERAL.
A trackage agreement dated Feb. 15 1909 was made with
the Louisiana Railway & Navigation Company for trackage
rights between Baton Rouge and New Orleans, La., 77.51
miles. This will give your Company the shortest route
between Houston, Texas, and New Orleans, La.
Statement showing the details of the expenditures for
additions and improvements to the property during the year
will be found on pages 2.3 to 26. (See pamphlet report.)
The most important addition was the new engine and car
shops at Springfield, Mo., which were completed at the close
of the fiscal year, and placed in operation on July 5 1909.
The report of the industrial department for the year shows
a very satisfactory increase in the number of industrial plants
located on the Company’s tracks during the year. There
were located 327 industries, employing 8,710 men and cost­
ing $7,330,500. It is estimated that these new industries
will load in and out over eighty thousand car-loads per annum.
The operating revenue per mile of road increased $203 41
over preceding year, while the operating expenses decreased
$145 91 per mile, making an increase of $349 32 in the net
operating revenue per mile of road.
Statements showing the Condensed Balance Sheet, In­
come and Profit and Loss Accounts, and Statistical State­
ments, each including the figures of the Chicago & Eastern
Illinois Railroad Company, will be found on a subsequent
page.
It was not deemed necessary by your Directors to incur
the expense of having the usual expert examination of the
books and accounts of the Company made at the close of the
fiscal year, for the reason that the books and accounts are
I kept in accordance with the Inter-State Commerce Com­
mission regulations and are subj'ect to inspection by experts
of the Commission.
Acknowledgement is hereby made of the faithful and ef­
ficient service rendered by officers and employes during the
year.
By order of the Board of Directors.
A. J. D AV ID SO N ,
October 1 1909.
President.
ST. LO U IS & SAN FRANCISCO R A IL R O A D L IN E S .

T o t a l ____ ______ ____________________________________________ $ 2 0 7 ,5 5 9 ,3 9 9 93
1’ he to ta l fu n d ed d e b t a t .June 30 1909 w a s . $ 1 0 9,33 9,6 19 30
T h e to ta l e q u ip m e n t trust b o n d s a n d n o te s
„, . .
a t Jun e 30 1909 w a s ______________________
1 5 ,0 3 3 ,5 5 M )9

T h e net Increase In fu n d e d d e b t a n d e q u ip m e n t n o te s d u r­
ing the ftscal y e a r w a s ----------------------------------------------------------

equipment obligations redeemed or exchanged, and on page
27 (see pamphlet report) will be found the amount of bonds
remaining in the treasury as a current asset.

IN C O M E A C C O U N T — F IS C A L Y E A R E N D E D J U N E 30 1909, C O M ­
P A R E D W IT H P R E V IO U S Y E A R .
I n c . ( + ) o r D e c . (— ) .
190 8-0 9.
190 7-0 8.
A m o u n t.
A v e ra ge m ileage o p e r . .
5 ,2 5 1 .0 6
5 ,0 6 4 .1 6
+ 1 8 6 .9 0
O perating revenue—
$
$
$
F r e i g h t _____ _________ 25 .6 1 8 ,8 7 5 74 2 3 ,9 7 6 ,2 9 6 87 + 1 ,6 4 2 ,5 7 8 87
Passen ger ___________ 9 ,6 5 5 ,8 8 5 73
8 ,9 2 7 ,0 3 6 90
+ 7 2 8 ,8 4 8 83
M all _________________ 1 ,0 0 2 .3 3 5 00
9 79 ,927 21
+ 2 2 ,4 0 7 79
E x p re ss_______________
1,133,291 29 1,129,153 27
+ 4 ,1 3 8 02
M iscella neous _______
5 43 ,585 43
557,149 04
— 13,563 61
T o t a l t r a n s p n r e v . 37,953,973 19 3 5 ,5 6 9 ,5 6 3 29
R e v . fro m o p e r. o th e r
___ __
„_
th an tr a n s p o r ta ’n .
24 1 ,7 6 4 47
2 36 ,568 82
T o t a l o p e ra tin g r e v 3 8 ,1 9 5 ,7 3 7 66 3 5 ,8 0 6 ,1 3 2 11
O veratin g exp en ses—
M a ln t. w a y & s tr u c ’s . . 5 ,0 9 4 .6 1 5
M a ln t. o f e q u ip m e n t. . 4 ,6 3 8 ,5 1 5
894,874
T r a ffic e x p e n s e s-------Transporta’n e x p — 13,294,083
G eneral e x p e n s e s ------ 1,241,924

70 4 ,6 7 1 ,4 1 6
91 4 ,5 5 9 ,1 0 7
17
833,678
88 1 3 .663,632
74
1,27 9 ,4 5 0

27
25
98
92
33

+ 2 ,3 8 4 ,4 0 9 90
+ 5 ,1 9 5 65, >>,2.2
+ 2 ,3 8 9 ,6 0 5 55>?J 6 .7
+ 4 23 ,199
+ 79,408
+ 6 1,195
— 3 69 ,549
— 3 7 ,5 2 5

43
66
19
04
59

9.1
1.7
7.3
2 .7
2 .9

T o ta l o p e r. e x p . . . .25,1 64,014 40 2 5 ,0 0 7 ,2 8 5 75

+ 156,728 65

0 .6

N et operatin g reven u e— .13,0 31,723 26 1 0 ,7 9 8 ,8 4 6 36
948,414 62
T a x e s ____________________ . 1,544,604 00

+ 2 ,2 3 2 ,8 7 6 90
+ 5 96 ,189 38

20 .7
62 .9

9,850,431 74

+ 1 ,6 3 6 ,6 8 7 52

16.6

O p e ra tin g

Incom e. .1 1 ,4 8 7 ,1 1 9 26

1908-00.

M iscella n eou s in com e-

I n c . ( + ) or D ec. (— ) .
A m o u n t.
%

1907-08.

*305 ,608 02
1,7 1 5 ,3 9 9 80

*32,078 81
*455 ,145 24
1,950,141 86

+ 3 2 ,078 81
+ 149,537 22
— 234,742 06

1,409,791 78

1,4 6 2 ,9 1 7 81

— 53,126 03

3 .6

12,896,911 04 11,3 1 3 ,3 4 9 55

+ 1,583,561 49

14.0

6 ,6 2 0 ,1 0 2 33
In t. on guaranteed se
c u r i t i e s ................... .. 2 ,5 9 1 ,6 3 1
Other rentals and sin k ­
in g fu n d s .......... .........
721 ,7 1 0
D ie s , on trust certificates,
The K a n sa s C ity F t.
Scott & M em p h is R y .
5 4 0 ,4 0 0
D ie s , on trust certificates,
Chicago & E astern II1 ,0 9 4 ,4 8 2

6 ,1 1 8 ,7 5 2 18

+ 5 0 1 ,3 5 0 15

3 2 .9

12 .0

8 .2

12

2 ,5 6 4 ,2 0 3 43

+ 27,427 69

1 .1

25

536 ,445 80

+ 185,264 45

3 4 .5

00

5 40 ,400 00

00

1,0 9 4 ,4 8 2 00

1 1 ,5 6 8 ,3 2 5 70 10,8 5 4 ,2 8 3 41
A v a lla b le fo r d lv s ___ 1,3 2 8 ,5 8 5 34
D ivid en d s—
4 % on first p re f. s t k .
199,742 12

4 5 9 ,0 6 6 14

+ 714 ,042 29

6.6

+ 8 6 9 ,5 1 9 20 189.4

199,742 12

S u rp lu s carried to credit
1 ,128,843 22

259 ,3 2 4 ,0 2

+ 869 ,5 1 9 20 335 .3

* D en otes d e b it.
N o te .— T o preserve c o m p a ris o n s, th e re ve n u e an d o p e ra tin g e xp en ses
an d oth er figures fo r the y ear 1907-08 are re -s ta te d h ereon t o c o n fo rm w ith
th e cla ssification o f th e In te r-S ta te C o m m e rce C o m m issio n , e ffe c tiv e
J u ly 1 1908.
GENERAL

P R O F IT A N D LO SS A C C O U N T A N D A D JU S T M E N T S
T H E R E I N J U N E 30 1908 T O J U N E 30 1909.

C redit—
B alan ce a t cred it Jun e 30 1908 ............................................ ............ $ 4 ,4 8 8 ,4 9 0 71
S u rplu s fo r the y ea r e n d e d Ju n e 30 1909____ .$ 1 ,1 2 8 ,8 4 3 22
S u n d ry a d ju s tm e n ts n o t a ffe ctin g cu rren t y e a r ’s
I n c o m e . . .........................................................................
5,528 51
----------------------- 1,134,371 73
T o t a l C re d it........ ........... ..................... ...................................................... $5,622,862 44
D eb it—
A n n u al Installm ent from fra n ch ises a n d p r o p ­
e r ty a c c o u n t , on a c c o u n t o f differen ce b etw een
th e c o s t o f u n d erly in g b o n d s re fu n d e d an d the
p ro ce e d s o f r efu n d in g b o n d s s o ld , an d the
com m ission s p a id th erefor (1902 r e f u n d i n g ) ..
P r o p o r tio n fo r the y ea r o f d is c o u n t o n secu rities
s o ld , a n d ex p en d itu res in c o n n e c tio n w ith
listin g , c e r tify in g a n d Issuing new b o n d s fo r
r efu n d in g p u rp oses (1908 r e fu n d in g )_________
D ep recia tion In the v alu e o f e q u ip m e n t d e ­
s tr o y e d a n d d ism a n tled d u rin g cu rren t fiscal
y e a r ................................................... ..............................

1909.
O u tsta n d in g secu rities on
leasehold e s ta te ( K . C.
M . & B . R R .) —
Funded debt ..................

Capital stock, auxiliary cos.
bunded debt, auxiliary cos.
Construction certificates,

$

9 ,2 4 7 ,4 2 0 00
55,000 00
7 ,6 5 1 ,5 6 6 59

1,4 0 4 ,9 3 0 85
a u x ilia ry c o m p a n ie s ____
P ref. s to c k trust certifica tes
9 ,3 1 7 ,5 5 0 00
(C. & 13. I . R R . ) ------------C om m on s to c k trust ce rtifi­
cates (C. & E . I . R R . ) . . 18,0 1 4 ,5 0 0 00
T o ta l
.......... ................ 30 6 .7 0 5 ,1 5 2
Current L iabilities—
A u d ite d vo u ch e rs a n d p a y ­
r o lls ______________________
4 202 518
In terest and d lv s . m a tu red 2 !6 9 1 1i 10
In te re st accru e d (n o t d u e ) .
1,403,991
fa x e s a ccru e d (n o t d u e ) . .
424 ,722
N o te s p a y a b le .........................
1,713,329
. 1 0 ,435,673
P ro visio n a l A cco u n ts—
S in k in g fu n d s a c c r u e d ____
285 ,078
E q u ip , re p la ce m e n t func l
(a u x ilia ry c o m p a n ie s ). . 19,572
Im p r o v e m e n t fu n d (K an sa „S
C ity & M em phis R y . &
B ridge C o m p a n y ).
‘
7,486

Total.

In crea se ( + ) o r
D ecrease (— ) .
$

1908.

9,2 4 7 ,4 2 0 00
6,923 ,000 66

+ 55,000 00
+ 7 2 8 ,5 6 6 59
+ 1 .4 0 4 ,9 3 0 85-

9 ,3 1 7 ,5 5 0 00
1 8 ,0 4 4 ,5 0 0 00

14 2 9 8 ,4 3 1 ,4 4 9 93

+ 8 ,2 7 3 ,7 0 2 21

51
96
98

94
12

5 ,3 7 4 ,3 3 8
2 ,5 1 0 ,6 6 0
1 ,147,176
165,488
1 1 ,9 8 7 ,0 3 5

— 1 ,1 7 1 ,8 2 0
+ 180,450
+ 2 5 6 ,8 1 5
+ 259 ,2 3 4
-1 0 ,2 7 3 ,7 0 6

51

2 1 ,1 8 4 ,7 0 0 45 -—10,7 4 9 ,0 2 6 94

58
70
38
89
90

07
26
60’
05
78

08

2 82 ,554 87

+ 2,523 21

41

5,7 4 7 14

+ 13,825 27

50

7,563 47

3 1 2 ,1 3 6 99

— 76 97
-16,271 51

G rand to ta l l ia b il i t i e s ...3 1 7 ,4 5 2 ,9 6 2 64 3 1 9 ,9 1 2 ,0 1 5 86
P ro fit an d l o s s . ............... ..
4 ,0 1 4 ,3 2 0 34
4 , 488,400 71

— 2 ,4 5 9 ,0 5 3 22
— 4 7 4 ,1 7 0 37

T o t a !............... - ..................... 32 1 ,4 6 7 ,2 8 2 98 3 2 4 ,4 0 0 ,5 0 6 57
— 2 ,9 3 3 ,2 2 3 59
. . F °J e \— In sta tin g the assets a n d liab ilities o f the c o m p a n ie s c o v e r e d b y
this balan ce sh eet, the h old in gs o f the St. L ou is & San F ra n cisco R R . C o .
in the b on d s an d c a p ita l s to ck s o f leased an d a u x ilia ry lines a rc e lim in a te d .
..
T ran sferred to F ran ch ises an d P ro p e rty a n d L e a se h o ld E sta te (T h e
K . C. F. S . & M . R y .) at Ju n e 30 1909.
E X P L A N A T I O N O F C H A N G E S IN F U N D E D D E B T D U R I N G F I S C A L
Y E A R E N D E D J U N E 30 1009.
T o ta l fu n d e d d e b t a t Ju n e 30 1008........ .............................. ............$18 9 ,8 9 0 ,7 1 7 74
ST.

L O U IS

&

SAN

F R A N C IS C O

R A IL R O A D

COM PANY.

A d d itio n s—
S t. L m d ^ & S a n F ra n cis co R R . C o . r e fu n d in g m o r tg a g e 4 %
Issued fo r:
A d d itio n s an d b e tte rm e n ts on K ansas
M idlan d R a ilw a y ---------------------------------R e d e m p tio n o f u n d e rly in g b o n d s

$15 0,00 0 00

512,163 1 1

$11 ,000 00
1 1,000 00
$ 22,000

946 ,378 99

T o ta l D e b it ................................................................................................ $1,6 0 8 ,5 4 2 10
B a l a n c e ............................................................................................................. 4 ,0 1 4 ,3 2 0 34

$2 2 ,7 5 6 ,1 0 3 90

$ 5 ,622,862 44
B y B alan ce at cred it Jun e 30 1909 _____________ ___________ $ 4 ,0 1 4 ,3 2 0 3A
C O N D E N S E D G E N E R A L B A L A N C E S H E E T J U N E 30 190 9.
ASSETS.
Increase ( + ) or
1909.
1908.
D ecrease (— ) .
C a pital A ssets—
$
F'ranchises
ran ch ises a n d pr<
p r o .p e r t. y .. 1 9 0 ,601 ,73 8 51 1 73 ,103 ,51 0 34 + 1 7 ,4 9 8 ,2 2 8 17
S to c k s an d b on d s o w n e d ..
203 ,8 4 5 69
203 ,8 4 5 69

00

S t. L o u is & San F ra n cisco R R . C o. general
lien m o rtg a g e 5 % b o n d s —
Issu ed fo r:
R e fu n d in g p u r p o s e s . . . ................................$ 2 0 ,8 2 8 ,0 0 0 00
R e tire m e n t o f e q u ip , b o n d s an d n o t e s ..
1,928,163 90

S t. L o u is & San F ra n cisco R R . C o. threeye a r c o ll, trust 5 % n o te s o f 1908—
Issued fo r p a y m e n t o f a d d itio n s & Im pr’ ts

2 ,0 0 0 ,0 0 0 00

T o t a 1- - ..................- .............................................$ 2 4 ,778 ,16 3 90

D ed u ction s—
S t. I,. & S . F . R R . C o. 2 3 + y e a r 5 % gold
n otes o f 1906, r e d e e m e d ____________________
$31 3,00 0 00
S t. L . & S. F . R R . C o. 5 -year 4 J ^ % gold
n o te s, r e d e e m e d ---------- ------------------------------999,900 00
T o ta l fra n ch ises an d p r o p ­
S t. L . & S . F . R y . C o. 1st m tg e . 6 % gold
e r t y __________
190 ,805 ,58 4
20 1 73 ,307 ,35 6 03 + 1 7 ,4 9 8 ,2 2 8 17
b
o
n
d
s
(M
issouri
&
W
e
s
te
rn
),
redeem
ed
.
.
10,000 00
L ea seh old e sta te (T h e K a n ­
S t. L . & S. F . R y . C o. 1st in tge . trust 6 %
sas C ity F t. S c o t t &
g
o
ld
b
o
n
d
s
o
f
1880,
r
e
d
e
e
m
e
d
____________
1,000 00
M em phis R a ilw a y )______ 55,203,841 11
52,312,051 01
+ 2 ,8 9 1 ,7 9 0 10
S t. L . M em phis & S. E. R R . C o . 5 -y c a r 4 'A %
L ea seh old estate (K a n sa s
g o ld n o te s, r e d e e m e d ......................................... 1 5 ,529,928 93
C ity M em phis & B irm in g ­
ham R a ilr o a d )....................
9 ,1 7 5 ,8 7 5 76
9 ,1 7 5 ,8 7 5 76
T « t a l ....................................................................... $1 6 ,8 5 3 ,8 2 8 93
F ran ch ises an d p r o p e r ty ,
a u x ilia ry c o m p a n ie s _____ 11,418,205 87
7 ,7 6 3 ,7 7 6 06
+ 3 ,6 5 4 ,4 2 9 81
N et Increase_______________________________________
$ 7 ,9 2 4 ,3 3 4 97
C h ica g o & Eastern Illin ois
R R . C o. preferred s to c k
L E A S E H O L D E S T A T E ( T H E K . C . F T . S . A iM E M . R Y .) ,
9 ,3 2 1 ,5 5 0 00
(C ost o f ) __________________
9 ,3 2 1 ,5 5 0 00
A d d itio n s - _
C h ica go & E astern Illin ois
T h e K . C. F t. S. & M . R y . C o. r e fu n d in g m tg e . 4 C b o n d s —
R R . C o. co m m o n s to c k
Issu ed fo r —
(C ost o f ) . ..........................
1 8 ,239,237 13
18,2 3 9 ,2 3 7 13
...........................
Additions, betterments and new equip.
$63 1 ,0 0 0 00
E q u ip m e n t u n d er e q u ip ­
Refunding purposes__________________
165,000 00
m en t tru s ts_____________
* 1 6 ,9 4 3 ,6 2 8 79 — 16,943,628 79
T o t a l _______________________________________ _____ _
7 9 6 ,0 0 0 00
T o t a l.......... ............................2 94 ,164 ,29 4 07 28 7 ,0 6 3 ,4 7 4 78
+ 7 ,1 0 0 ,8 1 9 29
B E A U M O N T SOUR L A K E & WESTERN R Y . CO.
Current A ssets—
Cash In tre a s u ry ___________
721,497 84
A d d itio n s—
370,142 93
+ 351,354 91
Cash In han ds o f fiscal a gen ts 3 ,7 9 9 ,4 8 3 89
2,2 9 1 ,8 3 8 06
+ 1,507,645 83
B e a u m o n t S o u r L a k e & W es te r n R y . Co. 1st m tge. 6 % go l d
D ue fro m agen ts a n d c o n ­
b o n d s ............. ............... ........................... _.... ______
4 6 1 ,0 0 0 00
d u cto rs _________________
1 ,1 6 0 ,0 2 5 22
1,037,921 59
+ 122,103 63
ORANGE & N ORTH W ESTERN RR. CO'
D ue fro m railroad c o m p a n ­
A
d
d
itio
n
s—4 3 ,214 98
ies a c c o u n t t r a ffic _______
55,615 14
— 12,400 16
Ora n ge & N . W . R R . Co. 1st m tge. 5 % gold b o n d s .............
267,566 59
D u e fro m com p a n ies an d
in d iv id u a ls ..........................
1 ,7 7 0 ,2 1 6 16
3 ,190,741 80
-1 ,4 2 0 ,5 2 5 64
T o ta l fu nded debt a t J un e 30 1909............................... $199,339,619 30
248 ,707 40
D u e fro m U . S. P . O . D e p t .
103,745 06
-144,962 34
Secu rities In trea su ry ______ 7 ,0 2 4 ,0 7 8 66 2 1 ,5 4 5 ,6 8 5 73 — 14,5 2 1 ,6 0 7 07
E X P L A N A T I O N O F C H A N G E S I N E Q U I P M E N T B O N D S A N D NOTES
S u p p lies on h a n d ___________
3 ,1 0 5 ,4 0 9 71
3 ,9 8 6 ,3 0 3 57
— 880 ,893 86
D U R I N G F I S C A L Y E A R E N D E D J U N E 30 1909.
A d v a n c e s a c c ’ t c o n s tr u c ’n .
3 ,6 1 0 ,0 6 5 74
3 ,5 9 7 ,8 2 4 64
+ 1 2 ,2 4 1 10
°* equ ip me nt bo n d s a n d notes o u t s t a n d i n g June 30
T o t a l...................
2 1 ,3 3 7 ,7 3 7 26 3 6 ,3 2 4 ,7 8 0 86 — 14,987,043 60
-------------------------------------------------------- ----------------------- $17,668,682 19
A d d ition s—
D eferred A ccou n ts—
No ne.
O pen c a r r y in g a c c o u n ts In
D ed uctions—
p rocess o f a d ju s t m e n t ..
589 ,602 38
527 ,443 33
+ 62,159 05
P a i d d u r i n g year:
f
D is c o u n t on b o n d s, carried
In s u s p e n s e ,to b e ch arged
Series “ A ” n o t e s ............................................$131,000 00
Series " B ” —
- ~ - --------o u t In ann u al In stallm ’ ts 4,8 4 9 ,0 9 4 56
n o t e s .......................................................... 124,000
00
+ 4 ,8 4 9 ,0 9 4 56
T ru stees sin kin g fu n d a c c ’ t
4 48 ,370 64
n otes.
........
100,000 00
4 0 6 ,8 9 5 53
+ 41,475 It
S ln k ln g fu n d s _______________
78,184 07
S cr es
D and “ E ” n o t e s ........................................... 146,200 92
77,9 1 2 07
+ 272 00
8®*; j*
‘’ on I s ........... .......................................
2 32 ,000 00
T o t a l .......................................
5 ,965,251 65
1 ,012,250 93
+ 4 ,9 5 3 ,0 0 0 72
I fL 1? ? ,.* * n o t e s ...................................................
6 0 ,000 00
T o t a l A ssets.........................3 2 1 ,4 6 7 ,2 8 2 98 3 2 4 ,4 0 0 ,5 0 6 57
n o t e s . . . .................................................. 312 ,0 0 0 00
-2 ,9 3 3 ,2 2 3 59
L IA B IL IT IE S .
n o t c s ......................................................
3 6 ,000 00
C apital Liabilities—
.8®Mes
n o te s ..................................................... ._ 521 ,000 00
C a p ital s to c k :
§ er es . M
n o t e s ......................................... ................ 105 ,745 20
F irst p referred ....................
5,0 0 0 ,0 0 0 00
5 ,0 0 0 ,0 0 0 00
Series
° ce r tific a te s .................
68,000 00
S e c o n d p referred ............... 1 6,000,000 00
16,0 0 0 ,0 0 0 00
I h e K ansas C ity Fort S c o t t & M em phis R y .
C o m m o n ................................. 2 9 ,0 0 0 ,0 0 0 00 2 9 ,0 0 0 ,0 0 0 00
C o. Series “ A ” b o n d s -------------------------------------- 130,000 00
T h e K ansas C ity F o rt S c o tt & M em phis R y .
T o t a l . . ............................. 50 ,0 0 0 ,0 0 00 5 0 ,0 0 0 ,0 0 0 00
C o. Series “ B ” b o n d s ....................................
170,000 00
F u n d ed d e b t ---------------------- 142 ,549 ,33 2 71 134 ,6 2 4 ,9 9 7 74
+ 7,9 2 4 ,3 3 4 97
O zark E quIpm ent C o. first m ortg age 5 % b o n d s
9 8 ,000 00
E q u ip m e n t b on d s & n o t e s . 13,045,551 99
15,239,582 19 — 2 ,1 9 4 ,0 3 0 20
f o r t S co tt E q u ip m e n t C o . first m o rtg age 0 ” ,',
O u tsta n d in g secu rities on
b o n d s ______________________ __________ _______
3 3 ,0 0 0 00
leaseh old esta te (T h e IC.
P ittsbu rgh L o c o m o tiv e W ork s 5 % n o t e s _____
10 ,10 0 00
• O. F . S . & M . R y . ) —
[ S to c k —
, * i T o ta l net d e c r e a s e .........................................................................
2 ,6 3 5 ,1 3 0 20
Preferred c e r tific a te s . 13,510,000 00
13,510,000 00
F u n ded d e b t ____________ 3 9 ,8 9 1 ,3 0 0 00 3 9 ,0 9 5 ,3 0 0 00
+ 7 96 ,bbo 00
T o ta l e q u ip m e n t b o n d s, n otes a n d certifica tes o u ts ta n d in g ,
i. E q u ip , b o n d s & n o t e s
1 ,9 8 8 ,0 0 0 00 2 ,4 2 9 ,1 0 0 00
— 441 ,100 00 |
a t Jun e 30 1909.......................................................................................$ 15 ,033 ,55 1 99
T o t a l ..................................

5 5 ,3 8 9 ,3 0 0 00




5 5 ,0 3 4 ,4 0 0 00

+ 354 ,9 0 0 00

* In clu d e interest a g g re g a tin g $81 ,8 9 5 77.

S U M M A R Y O F F IN A N C IA L C H A N G E S Y E A R

E N D E D J U N E 3 0 T H 1900.

R E S O U RG ES.
Cash o n h an d Jun e 3 0 th 1008 — -------------------------- ----------------------------------- --------------------------------F u n d e d d e b t , In crea sed -------------------------------- -- - - ------------ - - - - - - - - - - - - - - - —
— -O u tsta n d in g s ecu rities o n leaseh old estate (T h e K an sas C ity F t . S c o t t & M em phis R a ilw a y )
Increased ........................................... - --------- - - - --------------- ------------------- --------- --------------------------------C a p ital s to c k a u x ilia ry c o m p a n ie s , Increased ---------------------------------------------------------------------------F u n d e d d e b t , a u x ilia ry c o m p a n ie s . In creased ---------------- ----------------------------------------------------------C o n s tru ctio n certifica tes, a u x ilia ry c o m p a n ie s , In cre a se d -------------------------------------------------------S in k in g fu n d s a c c r u e d , In creased ------ -------------------- ------------------------------------------------------------------E q u ip m e n t u n d er e q u ip m e n t tru sts, d e c r e a s e d -------------------------------------------------------------------------C h anges In cu rren t a c c o u n ts , as fo llo w s :
In crea se in L ia bilities—
In terest an d d iv id e n d s m a tu r e d ------ ------------------------------------------------------------------------------------In terest a c c r u e d ______________________________________________________________________________
T a x e s a c c r u e d ____________________________________________________________________ ______ ______
E q u ip m en t rep la cem e n t fu n d s ------------------------------------------------------------------------------------------------

$ 2 ,6 6 1 ,9 8 0 99
$7 ,9 2 4 ,3 3 4 97
3 5 4 ,9 0 0
5 5 ,000
7 28 ,566
1 ,4 0 4 ,9 3 0
2,523
16 ,0 4 3 ,6 2 8

00
00
59
85
21
79

$27 ,4 1 3 ,8 8 4 41
$18 0 ,4 5 0
25 6 ,8 1 5
2 59 ,234
1 3,825

26
60
05
27

$ 71 0,32 5 18
D ecrea se in A ssets—
D u e fro m ra ilroa d com p a n ie s a c c o u n t t r a ff ic _____
D ue fro m U n ited S tates P o s t O ffic e D e p a r tm e n t.
D u e fro m com p a n ies an d In d iv id u a ls---------------------S ecu rities In tre a s u ry ---------------------------- --------------------S u p p lies on h a n d --------------------------------------------------------

$ 12 ,400
144 ,962
1 ,4 2 0 ,5 2 5
1 4 ,5 2 1 ,6 0 7
8 80 ,893

16
34
64
07
86

$ 1 6 ,0 8 0 ,3 8 9 07 $17 ,6 9 0 ,7 1 4 25
L ess—
In crea se in A ssets—
D u e fro m agen ts a n d c o n d u c t o r s ____________________
A d v a n ces a c c o u n t o f c o n s t r u c tio n ------------------------------O pen ca r r y in g a c c o u n ts in process o f a d ju s t in e n t .

$12 2,10 3 63
12,241 10
6 2 ,1 5 9 05
$19 6,50 3 78

D ecrea se in L ia bilities—
153 A u d ite d v ou ch ers a n d p a y -r o lls .
N o te s p a y a b le ____________________

1 ,1 7 1 ,8 2 0 07
1 0 ,2 7 3 ,7 0 6 78

rr

$ 1 1 ,4 4 5 ,5 2 6 85

1 1 ,6 4 2 ,0 3 0 63

6 ,0 4 8 ,6 8 3 62

T o t a l t o b e a c c o u n te d f o r .

3 3 ,4 6 2 ,5 6 8 03
$ 3 6 ,1 2 4 ,5 4 9 02

A P P L IE D A S F O LL O W S.
F ran ch ises a n d p r o p e r t y . In crea sed ________________________________________________ ______ ______
L ea seh old estate (T h e K ansas C ity F o r t S c o t t & M em phis R a ilw a y ), In creased------------------F ran ch ises an d p r o p e r t y , a u x ilia ry c o m p a n ie s , In creased _______________________________ _____
T ru stees sin k in g fu n d a c c o u n ts , In cre a se d _____________________ ________________________________
S in k in g fu n d s , In c r e a s e d ._____________________________ ______ _____________________________________
E q u ip m e n t b on d s an d n otes, d e c r e a s e d _____________ ___________________________________________
I m p r o v e m e n t fu n d , K an sas C ity & M em phis R a ilw a y & B ridge C o m p a n y , d e c r e a s e d ____
D is c o u n t o n b o n d s, carried In su spen se, t o be ch arged o u t In an n u al Installm ents, Increased
N et c r e d it t o p rofit a n d loss a c c o u n t , d e cre a s e d _______________________________________________

$17 ,4 9 8 ,2 2 8
2 ,8 9 1 ,7 0 0
3 ,6 5 4 ,4 2 9
4 1 ,4 7 5
272
2 ,1 9 4 ,0 3 0
76
4 ,8 4 9 ,0 9 4
4 7 4 ,1 7 0

17
10
81
11
00
20
97
56
37

3 1 ,6 0 3 ,5 6 7 29

B a la n ce , cash o n han d Ju n e 3 0 th 100 9.

$4,52 0 ,9 8 1 73

ST. LO U IS & SAN FRANCISCO R A IL R O A D L IN E S .
IN C L U D I N G

CHICAGO & E A S T E R N IL L IN O IS R A IL R O A D .
IN C O M E A C C O U N T Y E A R

EN D E D JU N E 30TH

1908-09.
190 7-0 8.
A v e ra g e m iles o p e r a t e d ----------6,2 1 6 74
6,021 26
O perating revenue—
$
$
F r e ig h t
________________ 3 3 ,6 2 4 ,4 5 8 61 3 2 ,4 9 9 ,0 8 3 84
P a s s e n g e r ____________________11,322,806 73 10,607,340 04
Mall _________________________ 1,125,336 47
1 , 10 0 ,18 8 65
E x p r e s s ______________________ 1,410,897 32
1 ,378,091 78
M iscella n eou s________________
661 ,712 47
674,451 78

190 9.
I n c . ( + ) or
D ec. (— ).
+ 1 9 5 .4 8
$
+ 1 ,1 2 4 ,7 7 4 77
+ 7 1 5 ,5 2 6 69
+ 2 5 ,1 4 7 82
+ 3 2 ,8 0 5 54
— 12,739 31

T o ta l tra n sp orta tion r e v ___48,145,271 60 4 6 ,2 5 9 ,7 5 6 09 + 1 ,8 8 5 ,5 1 5 51
Revenue
fro m
o p e ra tio n
o th e r than tra n sp orta tio n .
32 0 ,0 8 5 05
2 89 ,107 42
+ 3 0 ,9 7 7 63
T o ta l o p e ra tin g r e v e n u e .4 8 ,4 6 5 ,3 5 6 65 46 ,5 4 8 ,8 6 3 51
O perating exp en ses—
M ain ten an ce o f w a y and
s tr u c tu re s ________ _______ _ 6 ,0 8 9 ,3 2 5
M ain ten an ce o f e q u ip m e n t - . 6 ,3 0 2 ,2 7 5
T r a ffic e x p e n s e s ...................... 1 ,1 0 4 ,8 8 5
T ra n sp orta tion ex p en s e s -----1 6 ,929,769
G eneral e x p e n s e s . . ................. 1,672,292

M iscella n eou s incom e—

37
5 ,8 7 7 ,1 2 7
14 6,168,811
64 1 ,0 3 0 ,9 7 4
65 1 7 ,5 9 0 ,1 6 7
11
1,60 4 ,9 9 7

27
08
36
55
92

+ 1 ,9 1 6 ,4 9 3 14

+ 212,198 10
+ 133,464 06
+ 73,911 28
— 660 ,397 90
— 2 2 ,705 81

1.32,098,547 91 3 2 ,3 0 2 ,0 7 8 18

— 2 63 ,530 27

.1 6 ,3 6 6 ,8 0 8 74 1 4 ,1 8 6 ,7 8 5 33
. 1,818,718 66
1,307,001 56

+ 2 ,1 80,023 41
+ 511,717 10

.1 4 ,5 4 8 ,0 9 0 08 12,879,783 77

+ 1,66 8 ,3 0 6 31

-D eb.19,942 23 D eb.40 ,92 5 16
Deft.243,613 42 D eb .53,696 25
_ 1,741,892 90 1,452,556 68

+ 20,982 93
— 189,917 17
+ 289 ,336 22

1 ,3 5 7 ,9 3 5 27

+ 120,401 98

D ebit—
A n n u al Installm ent fro m fra nchises an d p r o p e r ty
a c c o u n t, o n a c c o u n t o f differen ces b e tw e e n the
c o s t o f u n d erlyin g b o n d s r e fu n d e d a n d the p ro­
c e e d s o f re fu n d in g b o n d s s o ld , and the c o m ­
m issions paid th e re fo r (1902 r e fu n d in g )--------- $15
,0 0 0 00
$ 15 0
0,00
P r o p o r tio n fo r th e y e a r o f d is co u n t o n secu rities
s o ld , and e x p e n d itu re s in c o n n e c tio n w ith lis t­
in g , c e r tify in g a n d issu in g new b o n d s fo r re ­
fu n d in g p u rp o s e s _______________________________
549,400 87
D e p r e cia tio n In va lu e o f tracks tak en u p and
e q u ip m e n t d e s tr o y e d an d d ism a n tle d d u rin g
cu rren t fiscal y e a r ______________________________ 1,088,411 31
O riginal c o s t o f o th e r p r o p e r ty d e s t r o y e d _______
4,032 48
S u n d ry ad ju stm e n ts n o t a ffe ctin g cu rre n t y e a r ’s
I n c o m e _________ ________________________________
8,1 5 9 57
T o ta l D e b it _________ _____________________________________ _____$ 1 ,8 0 0 ,0 0 4 23
B a l a n c e -------------------------------------------------------------------------------------- 4 ,8 1 9 ,2 7 7 73
$6,619,281 96
B y balan ce a t c r e d it Jun e 30 th 1909

.$ 4 ,8 1 9 ,2 7 7 73

C O N D E N S E D G E N E R A L B A L A N C E S H E E T J U N E 30 1009.
ASSETS.
C apital A ssets—
P r o p e r ty , franchises a n d trust a sse ts------------------------------------ $3 5 0 ,0 0 3 ,7 0 5 82
Current A ssets—
C a s h _____________________________________________________________
D u e fro m agen ts an d c o n d u c t o r s _____________________________
D u e fro m railroad co m p a n ie s a c c o u n t t r a ffic -----------------------D u e fro m co m p a n ie s an d in d iv id u a ls _________________________
D u e fro m U n ite d S tates G o v e r n m e n t ________________________
L oa n s an d bills r e c e iv a b le _____________________________________
S ecurities In tre a s u ry __________________________________________
S up plies o n h a n d _________ ____________________________________
A d v a n c e s a c c o u n t c o n s t r u c tio n ______________________________
T o ta l cu rre n t a s s e t s . . .....................................................................

.

1,478,337 25

.1 6 ,0 2 6 ,4 2 7 33 14,23 7 ,7 1 9 04

+ 1,788,708 29

8 ,8 1 2 ,2 7 3 99

8 ,2 9 8 .5 5 2 89

+ 5 1 3 ,7 2 1 10

2,591,631 12
1,480,941 94

2,564,203 43
1,239,268 82

+ 27,427 69
+ 241,673 12

Interest ................. ............................
R entals and sin kin g funds—
In t. o n guaranteed s ecu rities.
Other rentals and sin k , fu n d s
D ivid en d s on trust certs., The
K.
C . F t . S . * M em p h is
D ividends on trust certs.. C hic.
<fe E astern Illin ois R l l _______

R y.

540,400 00 540 ,400 00

1,094,482 00

T o t a l c h a r g e s . . .........................1 4 ,510,729 05 13,736,907 14

+ 7 8 2 ,8 2 1 01

1,506,698 28

500,811 90

+ 1,005,886 38

199,742 12

199,742 12

A v a ila b le fo r d iv id e n d s ____

157 ,140 00

157,140 00

T o t a l d iv id e n d s -----------------

3 56 ,882 12

35 6 ,8 8 2 12

S u rp lu s carried to credit o f profit
and lo ss ............... .......................... 1,14 9 ,8 1 6 16

143,929 78

$38 5,5 5 9 ,7 7 0 69

C apital L iabilities—
C apital s t o c k ________________
$ 5 9 ,2 4 3 ,6 0 0
S to ck tru st c e r tific a te s _________________________________________
4 0 ,8 7 2 ,0 5 0
F u n d e d d e b t ___________________________________________________ 2 3 9 ,7 7 6 ,6 1 9
C o n stru ctio n c e r t if ic a t e s ____________________
1 ,4 0 4 ,9 3 0
E q u ip m e n t b o n d s an d n o te s o u t s t a n d i n g . . ------------------------2 3 ,4 2 4 ,8 9 9

00
00
30
85
67

$ 3 6 4 ,7 2 2 ,0 9 9 82
Current L iabilities—
A u d ite d vo u ch e rs an d p a y -r o lls _______________________________
In te re st an d d iv id e n d s m a tu r e d _______________________
In terest a ccru e d — n o t d u e _____________________________________
T a x e s a c c r u e d — n o t d u e ___________________
N o te s p a y a b le .....................

G E N E R A L P R O F I T A N D LO SS A C C O U N T A N D A D J U S T M E N T S
T H E R E I N J U N E 3 0 T H 1008 T O J U N E 30T M 1900.
C redit—
B a la n ce a t c r e d it Jun e 30th 1908 -------------------------------------------- $ 5 ,4 6 9 ,4 6 5 80
Su rplu s fo r the y ea r e n d e d Jun e 30 th 190 9........ ............................ 1 ,1 4 9 ,8 1 6 16
T o t a l C r e d it..................................................... -

$ 5 ,5 0 4 ,8 2 9
2 ,9 9 6 ,0 8 6
2 ,0 6 5 ,3 4 9
61 3 ,1 2 2
3 ,1 3 8 ,3 2 9

10
96
07
87
12

$ 1 4 ,3 1 7 ,7 1 7 12
+ 1,00 5 ,8 8 6 38

N o te .— T o p reserve co m p a riso n s th e re ve n u e an d o p e ra tin g exp en ses and
o th e r figures fo r y e a r 1907-08 are re -s ta te d h ereon to co n fo rm w ith the
cla ssification o f the In te r-S ta te C om m erce C om m ission , e ffe ctiv e J u ly 1 1908.




$608,921 55
5,53 7 ,1 6 4 56
538,786 18

L IA B IL IT IE S .

1 ,094,482 00

D ivid en d s to stockholders—
4 % o n first p ref. s to c k o f
S t. L . & San F r. R R . C o .
6 % o n p ref. s to c k o f the C h ic
& E . 111. R R . C o. to s t o c k ­
h old ers o th e r than S t. L .
& San F ran . R R . C o ____

25
64
88
95
09
88
78
28
83

$28 ,8 7 1 ,1 9 2 58

D eferred A ccou n ts—
O pen ca rryin g a cco u n ts In process o f a d ju s t m e n t _________
D is co u n t o n b o n d s ca rried in suspense, to be ch a rge d o u t In
annual In stallm en ts_________________________________________
T ru stees o f sinking f u n d s _______________________________________
T o ta l a sse ts_________

$ 5 ,4 6 8 ,9 4 9
1 ,6 0 8 ,4 4 4
121,199
2 ,3 6 7 ,3 8 2
114,052
3 26 ,843
10 ,1 6 4 ,7 1 7
4 ,1 8 9 ,3 9 5
4 ,5 1 0 ,2 0 6

......................................... . . $ 6 , 619,281

06

P rovision a l A cco u n ts—
S in kin g fu n d s, a c c r u e d ------------------------ ----------- ----------------------In su ra n ce , Im p ro v e m e n t an d re p la ce m e n t f u n d s -------------------

$28 5,07 8 08
i ,41 5 ,5 9 7 94
$1 ,7 0 0 ,6 7 6 02

G rand to ta l lia b ilitie s ..........................
P ro fit an d lo s s________________
T o t a l____________________________________

$ 3 8 0,74 0,4 92 96
4 ,8 1 9 ,2 7 7 73
$38 5,5 5 9 ,7 7 0 69

N o te .— In sta tin g the assets an d liab ilitie s o f the c o m p a n ie s co v e r e d b y
this b a la n ce sh e e t, the h old in gs o f the S t. L ou is & San F ra n cisco R a ilroa d
C o. In the b o n d s an d ca p ita l sto ck s o f leased an d a u x ilia ry lines are
e lim in a te d .

3£ke

© u m m je r d a l

m c$.

COMMERCIAL EPITOME.
Friday Night, Oct. 29 1909.
Trade continues to expand and iron and steel mills have
large orders ahead. The recent rise in money rates at home
and abroad seems to have had no detrimental effect on gen­
eral business. The general feeling continues to be one of
confidence as to the future.
L A R D on the spot has ruled firm, without marked change
in prices. Trade here has been dull, but at the West a
good business has been transacted and the live-hog situation
remains as strong as ever. Prime Western 12.80c., Middle
Western 12.80c., city 12%c. Refined lard has advanced on
the strength of the raw material. Trade moderate. Re­
fined Continent 13.75c., South America 14c., Brazil in kegs
15c. Speculation in lard futures at the West has been active,
with prices strong much of the time. The live-hog situation
has been the dominant factor. Good investment buying
has been reported of late.
D A IL Y

C L O S IN G P R I C E S
S a t.
O c to b e r d e liv e r y ............. .1 2 .5 0
N o v e m b e r d e liv e r y ______ 12.00
J a n u a ry d e liv e r y ................11.05

O F L A R D F U T U R E S IN C H IC A G O .
M on.
T u es.
W ed.
'Muirs.
F ri.
12.37 H 12.35
12.35
12.37
1 2 .1 2 K
12.07J4 1 1 .9 7 M 1 2 .0 2 M 12.15
12.25
11.20
1 1 .1 7 M 11.30
11.50
11.00

P O R K on the spot has been strong. Trade has been dull,
but offerings have been extremely light. Mess $25 75@$26,
clear $24 50@$26 50 and family $26 50. Beef has been
quiet and firm. Mess $11 @$11 75, packet $12 50@$13,
family $13 75@$14 50 and extra India mess $20@$21. Cut
meats have been quiet, with slight changes in prices; pickled
hams, regular, 12% @12% c.; pickled bellies 13>^@14>^c.;
pickled ribs 133^@I4c. Tallow quiet and firm; city G ^c.
Stearines quiet and steady; oleo 17@19c., lard 133^@14J^c.
Butter quiet and steady; creamery extras 31 @31 ^ c . Cheese
quiet and steady; State, f. c., Sept., fancy, 16J^c.; Oct. best
15%c. Eggs quiet but higher; Western firsts 26@273^c.
O IL .— Linseed has advanced with seed; city, raw, Ameri­
can seed, 63@64c.; boiled 64@65c.; Calcutta, raw, 75c.
Cocoanut has been firm with a routine trade; Cochin 9@
9M c -> Ceylon 8 }4 ® 8 / 4 c. Olive quiet and steady at 85c.@
$1 40. Lard has been moderately active and firmer; prime
$1 02@$1 08; No. 1 extra 58@60c. Cod has been firmer
and more active; domestic 38@40c.; Newfoundland 40@42c.
C O FFEE on the spot has been quiet and firm. Rio No. 7,
8 % @ 8 ^ ic .; Santos No. 4, 8 % @ 8 % c. West India growths
have been quiet and generally steady; fair to good Cucuta
9*4@ 9% c. The speculation in future contracts has been
rather active of late at some advance in prices. Stimulating
factors have been persistent reports from Europe and Brazil
that the new Brazilian crop is certain to fall considerably
short of the last yield, which, some contend, was over­
estimated. On Thursday a cable from Havre said that
information from Brazil pointed to a Santos crop of between
7,000,000 and 8,000,000 bags. This caused considerable
buying. Closing prices were as follows:
O c t o b e r ...............__G .10c.
N o v e m b e r _________ G .15c.
D e ce m b e r _______ 6 .2 0 c .
J a n u a r y ___________6 .2 5 c .

F e b r u a r y ...................6 .3 0 c .
M a r c h . - ..................... 6 .4 0 c.
A p r i l --------- ------------ 6 .4 5 c .
M ay .......................... 6 .5 5 c .

J u n e ......................... G.COc.
J u ly ......................... 6 .6 5 c .
A u g u s t .................... 6 .7 0 c.
S e p t e m b e r ............ 6 .7 0 c .

COTTON.
Friday Night, Oct. 29 1909.
T H E M O VE M E N T OF T H E CRO P as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
420,071 bales, against 450,899 bales last week and 442,783
bales the previous week, making the total receipts since
Sept. 1 1909 2,826,881 bales, against 2,595,114 bales
for the same period of 1907-08, showing an increase since
Sept. 1 1909 of 231,767 bales.
R eceipts at—

Sat.

M on.

W ed.

T h urs.

G alveston .
_.
P o r t A r t h u r ____
C orp. C h ris t!,& c.
N ew O rle a n s____
G u lf p o r t ________
M obile _________

20,988

17,604

31,973

21,374

21,778

7,985

10,625

15,051

17,638

9,853

954
i ,948

3,938

4,235

1,673

3,003
1,250

18,025

587
16,862

23,920

674
14,262

13,279

1,469
100
2,369
7,437

2,753

3,329

3,470
5,941

2,794
4,092

J a c k s o n v ille , & c.
S a v a n n a h ____ _
B r u n s w ic k ____
C h arleston __ __
G e o r g e t o w n ____
W i lm i n g t o n ____
N o rfo lk ________
N ’ p o r t N ew s, & c.
N ew Y o r k _______
B o s to n ___________
B a lt im o r e _______
P h ila d e lp h ia ____
T o ta l this w eek

1,970

3,095

3,253
5,527

4,246
8,450

T u es.

—

- I66
17
50
60,817

F r i.

1,44 5
10,810
3,188
1,205
451
14,687
17,3 90
2,566
2,462
5,374
298

—

68
66
—

—

65,473

86,6 2 2

"6 5
15

64

—

44

67,865

59,486

T otal.

16,801 130,518

12
3,1 1 9

1,445
7 1 ,962
3,188
15,008
3,198
1,712
10! ,035
17,390
15,182
100
18,594
36,821
298
228
174
3,119
94

79,808 420,071

The following shows the week’s total receipts, the total
since Sept. 1 1908, and the stocks, to-night, compared with
last yean_____________________________
1909.
R eceipts to
October 29.

T h is S in ce S ep
W eek.
1 1909.

G a lv e s to n ________ 130,518
P o rt A r th u r . ___
C orp. ChristI, & c.
1,445
N ew O r le a n s ____ 71,962
3,188
M obile .................
15,008
3,198
1,712
J a ck s o n v ille , & c.
S a v a n n a h ________ 101.035
17.390
B r u n s w ic k _______
C h a r le s t o n _______ 15,182
G e o rg e to w n ____
100
W ilm in g to n ____
18,594
N o r fo lk _______ . . 36,821
N ’ p o r t N ew s, & c.
298
N ew Y o r k _____
233
B oston . . _____
174
B a ltim o re ________
3,119
P h ila d e lp h ia ____
94

1908.
T h is
W eek.

Stock.

S in ce S ep
1 1908.

924,200 168,898 1,004,728
24,700
0,904
11,424
3,840
12,154
320 ,116 92,681
368,008
5,627
89,867 19,198
103,509
29,420
5,237
22,625
7,689
1,579
7,926
707,291 71,592
596,409
127,414 14,740
65,941
127,531 10,699
87,345
351
25
164
182,493 19,113
165,751
195,626 27,632
138,200
1,763
276
1,800
1,314
54
319
732
1,587
8,969
4,756
11,465
351
75
454

T o t a l.......... ......... 420,071 2,826,881 440,660 2,595,114

1909.

1908.

109,947

202,593

147,227
5,027
47i291

160,633

231,700
30,044
44,937

156,511
7,844
33,632

25,134
34,239

26,760
19,305

110,120
2,057
3,779
7,267

77,606
4,7 7 0
5,622
3,726

889 ,429

755,600

50,688

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
R eceipts at—
G a lv e s t o n ___
P t. A r th u r ,& c
N ew O rlean s.
M o b i le _______
Savan n ah ___
B ru n sw ick ___
Charles to n ,& c
W ilm in g to n . _
N o r f o l k ____
N ’ p o rt N ., &c
A ll o th e r s ____

1909.

1908.

130,518
1,563
71,844
15,008
101,035
17,390
15,282
18,594
36,821
298
11,718

168,898
3,840
92,681
19,198
71,592
14,740
10,724
19,113
27,632
276
11,966

1907.
74,700
5,430
65,410
16,986
88,779
12,128
13,810
23,211
25,533
1,388
9,693

1906.

1905.

1904.

188,151
11,097
96,789
14,794
8 7 ,107
7,635
7,412
19,553
27,691

105,488
3,876
65,484
12,018
67,489
8,215
10,314
28,871
32,047
171
10,627

111,641
21,786
114,584
14,115
77,720
1 1,764
8,032
15,872
31,442
564
22,079

14,542

SU G A R .— Raw has been in moderate demand and firm. T o ta l this w k . 420,071 440,660 337,068 474,771 344,600 429 ,599
Centrifugal, 96-degrees test, 4.30c.; muscovado, 89-dcgrces S ince S e p t. 1. 2,826,881 2 ,595,114 1,901,505
2 ,633,253 2,5 7 2 ,3 6 3 3,0 7 6 ,8 0 8
test, 3.80c.; molasses, 89-degrces test, 3.55c. Refined has
been quiet and firm. Granulated 4.95@5.05c. Teas have
The exports for the week ending this evening reach a total
been firm though less active. Spices have been active and
of 330,270 bales, of which 139,038 were to Great Britain,
firm. Wool quiet and strong. Hops dull and steady.
80,321 to France and 110,851 to the rest of the Continent.
P E T R O L E U M .— Refined has been firm with a good de­ Below are the exports for the week and since Sept. 1 1909:
mand for domestic and export account. Trade is more
Week ending Oct. 29 1909. From Sept. 1 1909 to Oct. 29 1909.
active than at this time last year. Barrels 8.15c., bulk
■ Exported to—
Exported to—
4.65c. and cases 10.55c. Gasoline has been active and firm;
Conii­
Conti­
86-degrees, in 100-gallon drums, 18jktc.; drums $8 50 extra.
from —
Great
Great
Total.
Britain. F t ’nee nent.
Total. Britain. F rance. ne in.
Naphtha steady and in good demand; 73@76 degrees, in
100-gallon drums, 16%c.; drums $8 50 extra.
Spirits of G a lv e sto n ____ 52,238 36,971 33,942 123,151 232,581 209,468 268,892 710,941
1,000
15,389
8,311
24,700
turpentine moderately active and firm at Olj/gC. Rosin
4,676
4,676
Corp.Chris.,&c.
firm; common to good strained $4 25.
96,800 64,017
40,832 201,649
New O rleans.. 37,712 27.983
8,428 74,123
10,015 19,681
Mobile
5,869
29,698
5,869
TOBACCO.— The general situation in the market for P e n sa co la __
12,708 10,031
7,831
1,250 3,198
30,570
1.948
___
domestic leaf has undergone no essential change during the Fernand Ina . .
96,972 54,015 200,127 351,114
Savannah ____ 13,655 6,767 38.202 58,624
week. Sales of leaf have been rather light; but as manu­ Brunswick. . .
____
37,921
51,458
89,378
11.820
6,500 6,500
facturers of cigars continue very busy, there is a belief that Charleston____
49,712
61,532
36,327
65,938 15,700
11,827
W
ilm
ington_
_
8,600
15,900
73,720
155,358
at no very distant day the demand for leaf will improve Norfolk . . .
1,500
32
1,532
____
materially. Meantime prices are firm. Havana has met j Newport flews
52,01 i 8,319
1,618 6,664
Y o rk ____
5,046
44,930 105,260
with a good demand and has ruled firm. Sumatra has been New
28
2,548
B o s t o n __ __
45,582
2,520
6,189
51,771
firm and moderately active.
5,615 5,615
5,529
21,040
B a ltim ore____
502
15,009
__ 4,210 12,690
4,210 ____
..
18,087
5,397
C O PPE R has been active and firmer. On Thursday the Philadelphia
____
_
_
_____
Portland, M e ..
700
700
4,800
28th inst. sales were reported of several million pounds, and San Francisco.
4,800
__ 2,741 2,711
3,439
...........
3,439
it is said that bids for heavy lots from foreign buyers at Seattle
______
T a co m a ______
_____
____
___
slightly under current quotations were rejected. Lake Portland, Ore
______
______
.. ..
12^t@13c.; electrolytic 1 2 ^ @ 1 2 % c.; casting 12%@12i^c. Pembina
—
D etroit.............
....
....
....
....
....
....
....
Lead quiet at 4.32 j^@4.40c. Spelter quiet at 6.40@6.55c.
T o t a l ........... 139,098 80,321 110,851 330,270 690,378 382,733 792,433 1,8G5,544
Iron has been firm with a large business in all sections of the
country. In the local market very large contracts for foun­ Total 1908____ 82,350 80,799 147,407 310,556 504,431 284,077 855,295 1.703,803
dry iron have latterly been closed. Pipe works have bought
over 75,000 tons during the week. No. 1 Northern $18 75@
In addition to above exports, our telegrams to-night also
$19 50; No. 2 Southern $19 25. The railroads of the coun­ give us the following amounts of cotton on shipboard, not
try have placed large orders for steel cars and rails. Tin cleared, at the ports named. We add similar figures for
has been quiet; Straits 30.30c. for spot.
* New York.




On Shipboard, N ot Cleared fo r —
October 29 at—

Great
Britain. F ra n ce

Ger­
Other
m an y. F o reig n

N ew O r le a n s ..
G a lv e s t o n ____
S av an n ah ____
C h a rleston ____
M o b i l e ...............
N o r f o l k _______
N ew Y o r k ____
O th er p o r t s ___

10,903
50,320
2,236

1,239
4,787

8,312
20,391
8,330

3,182
6,000
3,000
22,000

9*.460

1 0 ,108

T o ta l 1 9 0 9 ..
T o ta l 1 9 0 8 ..
T o ta l 1 9 0 7 . _

97,641
96,364
51,076

"566

119,182
108,203
221,194
42,437
24,426
6,159
103,420
26,908

26,113 237,500
19,476 302,334
31,613 181,007

651,929
453 ,3 5 6
472 ,798

2,500
25
22,080
Y .666
4,000

18,986 66,431
26,993 102,603
28,030 48,687

28,329
56,898
21,601

Total.

L ea vin g
S to ck .

28,045
91,744
10,566
2,500
22,865
28,080
6,700
47,000

485
1,023

7,106
15,223

Y ,200
18,000

3,0 0 0

C oast­
w ise.

Speculation in cotton for future delivery has been very
active at rapidly rising prices, advancing some 100 to 125
points, after which there was some reaction. The under­
lying cause of this speculative outburst is a widespread idea
that the crop is comparatively small. Such estimates as
10,000,000 to 10,500,000 bales are not by any means uni­
versally accepted, but there is a notion among ipany that
the crop may not be any larger than that of 1907-08, when it
was approximately 11,500,000 bales, though there are some
who think that 12,000,000 bales, and possibly more, may yet
be gathered. But while the size of the crop is naturally at
this stage of the season purely conjectural, there can be no
doubt that there is a sharp demand for the actual cotton at
home and abroad. After a lull in the trading at Liverpool
the spot sales there of late have suddenly risen to 12,000
bales. In the South active buying and steadily rising prices
are reported. It is said that spot dealers there have in some
cases found it impossible to fill their contracts except at
heavy losses. Some “ laying down” on the part of such
dealers is reported. A small bear failure is said to have
occurred in Liverpool on Thursday. Crop reports from some
sections are comparatively favorable, but from others quite
the reverse. The receipts continue large, but their effect is
offset by big exports and an active demand as well as by the
speculative furore. Though manufacturers in the Carolinas
have, it is stated, thus far failed to come to a general agree­
ment about curtailment, a number of mills have decided to
curtail, and 160 Georgia mills, it is stated, have agreed to
curtail 25% during November and December. Fall River
and New Bedford, however, seem disinclined to reduce pro­
duction before April 1st, though it appears that outside of
these points many mills in New England and elsewhere will
lessen their output. The report of the Census Bureau,
however, greatly encouraged bulls. Instead of 6,000,000
bales, as at one time predicted, it gave the quantity ginned
up to Oct. 18th at 5,525,591 bales, against 6,296,166 for the
same time last year, 4,420,258 in 1907 and 4,931,621 in 1906.
Conservative people deprecate the wild speculation which
has been going on and think too little attention has been
paid to the big crop movement and to the fact that present
prices, the highest seen in many years, except in the Sully
year of 1904, discount, as they believe, all the bullish facts
of the situation. They think, too, that sooner or later a
movement to curtail production will become very general in
this country and in Europe. Since last fall there has been
a rise of, roughly speaking, 6c. a pound, or $30 a bale, with­
out, it is contended, sufficient warrant. Meantime the stock
here at New York has increased during the present month
about 47,000 bales. _ The South continues to sell here against
actual cotton and Liverpool has also sold heavily for arbitrage
account. Of late, however, Liverpool has liquidated some
of these straddles by purchasing here. James A. Patten is
said to have bought freely, and other operators at the West,
the South and in Wall Street have also bought on the idea
of a short crop and a record-breaking consumption. The
estimated transactions at the Exchange have at times been
as high as 750,000 bales in a day. Of late there has been
very heavy liquidation for local Western and Southern ac­
count. To-day prices advanced sharply on renewed heavy
buying for account of local, Wall Street, Chicago and South­
ern interests, Liverpool purchases to undo straddles, stronger
and active spot markets at the South, and covering of shorts.
Spot cotton here has been quiet. Middling upland closed at
14.85c., an advance for the week of 90 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Oct. 23 to O ct. 29—
Sat.
M on . T u e s. W e d . T h u rs.
M id dlin g u p la n d s ...........................11.20
14.40
14.55
14.65
14.75

Fri.
14.85

N E W Y O R K Q U O TATIO N S F O R 32 Y E A R S .
1 0 0 0 .c ______14 ,8t
1008............... 0.35
1907................ 10.80
1006................ 10.50
190 5........... . .1 0 . 6 5
100 4................ 10.00
100 3................ 10.35
1902............... 8.65

1 9 0 1 .c . . . . .
1 9 0 0 .. . . . .
1 8 0 9 .. .
..
1898.
-.
1 8 9 7 .. .
1806____ - 1895___
1804_____ - -

8.00 1 8 9 3 .c ___ . .
9.44 1892_____ . .

8.19
8.31
7.38 1891_____ . . 8.38
5.31 1890____ . .1 0 . 0 0
1889_____ - .1 0 .5 0
7.94 1888____ . . 9 .8 !
1887_____ . . 9.62
5.75 1886____ . . 9.25

1 8 8 5 .c ______ 0.62
1884------------- 9.75
1883............. .1 0 . 6 2
1882------------- 10.50
1881.................11.62
1880................ 11.06
1870--------------11.31
1878............... 9.44

M A R K E T A N D SALES A T N E W Y O R K .
Spot M a rket
Closed.
S a t u r d a y ..
M o n d a y ___
T u e sd a y . .
W ed n esd a y
T h u rsd a y .
F r id a y ____

Q u iet,
Q u iet,
Q u iet,
Q u iet,
Q u iet,
Q u iet,

28
20
15
10
10
10

p ts.
p ts.
p ts .
p ts.
p ts.
p ts.

T o t a l ___




adv.
adv.
adv.
adv.
adv.
adv.

F u tu res
M arket
Closed.
S tro n g .
F irm
S t e a d y ____ ' "
V e r y s te a d y
S t e a d y ............
S t r o n g ____

Sales o f Spot and Contract.
C on C on­
S p ot. sum*n. tract.
"to o

—

7',666

Total.
b‘,666

25

2,600
2,500
4.800
9.800

105

. . . . 27,600 27,795

"76

2,600
2,570
4,82 5
9,800

F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
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IS IS IS IP IS IP I Co I Cl I Cl
T H E CO TTO N C R ISIS— G R O W E R A N D CONSUM ER.
— In our editorial columns to-day will be found an article
under the above caption.
T H E V IS IB L E S U P P L Y OF CO TTO N to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week’s returns, and conse­
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), wre add the item of exports from the United
States, including in it the exports of Friday only.
^
l obJ / r2,9~
i
^ ,
190 9g t o c k a t L iv e r p o o l........... . . b a l e s .
6 7 2 ,0 0 0
g t o c k a t L o n d o n .....................................
7 ,0 0 0
S to c k a t M a n c h e s t e r ............................
3 4 ,0 0 0

1 90 84 1 1 ,0 0 0
14,000
26.000

1907542 ,0 0 0
27,000
4 0 ,0 0 0

1906.
296 ,000
16,000
21,000

.
.
.
.
-

7 1 3 ,0 0 0
11,000
179,000
232 ,000
2,0 0 0
7 ,0 0 0
15,000
3 ,0 0 0

4 51 ,000
20,000
185 ,000
100,000
4,000
12,000
14,000
10,000

609 ,000
18,000
129,000
91,000
3 ,0 0 0
10,000
18,000
34,0 0 0

.

449 ,000

3 45 ,000

3 0 3 ,0 0 0

185,000

T o ta l E u rop ean s t o c k s _________ .1 .1 6 2 ,0 0 0
In d ia c o t to n afloa t fo r E u r o p e .. 2 6 ,000
A m e r. c o t to n a flo a t fo r E u r o p e . - 816 ,169
E g y p t,B ra z tl,& c .,a flt.fo r E u rop e .
4 2 ,0 0 0
S to c k In A le x a n d r ia , E g y p t ____ - 123,000
S to c k in B o m b a y , I n d ia ............... . 103,000
S to c k In U . S. p o r t s _____________ . 889 ,4 2 9
S to c k In U . S . in te rio r to w n s ____. 5 3 0 ,3 6 5
U . S. e x p o r ts t o - d a y . ..........
.
66,541

796 ,0 0 0
4 3 ,000
760 ,9 3 5
3 6 ,000
123,000
149,000
755 ,690
625 ,915
77,642

912 ,000
41,0 0 0
586,781
58,000
131,000
3 12 ,000
653 ,805
415,441
75,850

518 ,000
82,0 0 0
801,716
64,000
119,000
344 ,000
936 ,607
406,198
40,787

S to c k a t H a m b u r g S to c k a t M arseilles.
S to c k a t B a rc c lo n a .
S to c k a t T r i e s t e .

333 ,000
22,000
72,000
50,000
4,000
4,000
32,0 0 0
1,000

.3 ,7 5 8 ,5 0 4 3 ,3 6 7 ,1 8 2 3 ,1 8 5 ,8 7 7 3,3 1 4 ,3 0 8
O f the a b o v e , to ta ls o f A m e rica n an d o t h e r ’ d e scrlp tlo n s are as fo llo w s:
A m erica n —
. 591,000
304 ,000
4 53 ,000
222,000
.
29,000
18,000
3 0 ,000
17,000
. 4 24,000
287,000
211,000
129,000
. 816 ,169
760 ,935
586,761
801,716
. 889 ,4 2 9
755 ,690
653 ,805
936 ,607
. 530,365
625 ,915
615,441
408,198
U . S . e x p o r ts t o -d a y I
.
66,541
77,642
75,850
40,787
E ast In d ia n , B ra zil. & c .—
L iv e r p o o l s t o c k ________________
L o n d o n s t o c k _________________
M anchester s t o c k ........ ................
C on tin en tal s t o c k . ................. ..
In d ia a flo a t fo r E u r o p e .. . . ___
E g y p t , B razil, & c ., a flo a t____
S to c k In A le x a n d r ia , E g y p t ..
S to c k In B o m b a y , In d ia _____

2,8 2 9 ,1 8 2 2 ,4 2 5 ,8 7 7 2,555,208
.
.
.
.
.
.
.
.

81,000
7,000
5,000
25,000
26,000
42,0 0 0
123,000
103,000

107 ,000
14,000
8,000
58,000
43,0 0 0
3 6 ,000
123,000
149,000

8 9 ,000
27,000
10,000
92,000
410 0,0
58,000
131,000
3 1 2 ,0 0 0

74,0 0 0
16,000
4,000
56,000
82,000
64,000
119, 00
344 ,000

. 412 ,000
538,000
760 ,000
759 ,000
.3,34 6,5 04 2 ,829,182 2,4 2 5 ,8 7 7 2 ,555,308
-------- ---------------u p p ly ____________ _____ ___ _
M id d lin g U p la n d , L iv e r p o o l_____
7 .7 1 d .
4 .9 9 d .
M id d lin g U p la n d , N ew Y o r k ____
14.7 5 c.
9 .3 5 c .
8% d.
E g y p t , G o o d B ro w n , L I v e r p o o I - .i l l l - 1 6 d .
P e ru v ia n , R o u g h G o o d , L iv e rp o o l
9.oO d.
8 .1 5 d .
B ro a ch , F in e, L iv e r p o o l_________ 7 l l - 1 6 d . 4 13-16d
--------6 H d . *4 nl -l -i 1
7,
,-----------------------------------'
'
;— ,
— . — ,,
u 6ud. .

5 .9 3 d .
5.8 0 d .
1 0 .9 0 c .
1 0 .4 0 c.
1 0 ^ d . 10 3 -1 6 d .
1 2 .0 0 d .
8 .7 0 d .
5 X d . 5 13-16d.
j 5 c7i -1
o u6 d
. . o5u9-16d.
-io u .

Continental imports for the past week have been 223,000
,les.
Uhe above figures for 1909 show an increase over last week

A T T H E IN T E R IO R TO W N S 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.
|OOcCtDHOJOOcOOOOcOO'fHiOMOO'fOCcOOOOCJM^r.iON'f
^ O O CV1rH ts. tH00 00
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o
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O

sis

XO H fjrnO O C O ^H O O C C rtO cO H M C O iO I'O O O C JiO H C O M H
P5H!OMoOOOOoOOCHOt>hiOOTrOO'1'00'-'NoO{OCCOh*MHOiOH
C005f->OOCCOflOOM05cObiHrfp5l>.h.NaiOp5Tj'M«0»-'OMHp;’1'hH
rHiO»OcOCO*-''»tts'€^CVJM
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~ “
“
^^C O tO O rtH M O O O ^tO M I o

C losin g Q uotations fo r M id d lin g Cotton on—
W eek ending
October 29.

S a t'd ay.

G a lv e s t o n ______
N ew O rle a n s___
M o b i l e _________
S a v a n n a h ______
C h a rle sto n ______
W ilm in g t o n ------N o r f o l k ________
B o s to n ________
B a lt i m o r e _____
P h ila d e lp h ia ___
A u g u s t a ________
M e m p h is _______
S t. L o u is _______
H o u s t o n _______
L ittle R o c k -------

13 13-16
13 %
13 %
13 7-16
13 %
13 X
13 %
13.95
14
14.45
13%
13%
14
13 13-16
13%

M on d ay. Tuesday. W ed'd ay. T h ursd’ y. F r id a y .
13 15-16
13 13-16
13 %
13 %
13%
13%
13 13-16
14.20
14 %
14.65
13 15-16
14%
14
14
13%

14 1-16
13 15-16
13%
13 11-16
13 %
13%
13 %
14.40
14 %
14.80
14
14%
14 %
14 3-16
13 7-16

14 %
14 1-16
14
13 %
13 %
13 %
14 %
14.55
14 %
14.90
14%
14%
14 %
14 %
13 7-16

14%
14 3-16
14
13%
14%
14
14%
14.65
14%
15.00
14 %
14%
14%
14 5-16
13%

14 %
14 5-16
14%
14 3-16
14 3-16
14
14%
14 .7 5
V t'A
15 .1 0
14 %
14%
14%
14%
13%

it>*»OcOlN
»t-*'^^O^COCvl

N E W O R L E A N S O P T IO N M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
S a t’d a y ,
O ct. 23.
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’ f ’ roO 'f'fO i-'M O oC O i'tO M T fO O ’ fOiOaONOCXOcOOoOONMOJ
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M on d ay, Tuesday, W ed'day, T h ursd’ y, F r id a y ,
Oct. 25. O ct. 26. Oct. 27. Oct. 28. Oct. 20.

1 3.79-.9 0 1.3.83-.05 13.9 8 -.1 0 1 4.32-.3 4 14.44 —
R a n g e _______
C losin g----------- 13.76 — 13.78-.8 0 1 4.03-.0 5 14.18 — 14.30-.3 2 —
C lo sin g ----------

— @ — — @ — — @ .95 — @ — — @ — 14.2 5 -.4 0
13.76 — 13.88-.8 9 13.95 — 14.12-. 13 14.21-.2 3 14 .4 2 -.4 4

13.74-.8 5
C lo sin g----------- 1 3.78-.8 0
Jan u arg—
R a n g e _______ 1 3.84-.9 6
C losin g----------- 13.86- 88
F ebrua ni—
— @ —
C lo sin g----------- 13.96-.9 7
1 4.03-.1 6
C lo sin g----------- 14.06-.0 8
A pril—
— @ —
C lo sin g ---------- 1 4.15-.1 6
M nu—
R a n ge ----------- — @ —
C losin g_______ 14.18-.2 0
J u n e—
R a n ge _______ — @ —
C lo sin g_______ 14.22-.2 4
J u lg —
R a n g e _______ 14.20-.3 0
C lo sin g ---------- 14.22-. 25
Septem ber—
R a n ge _______ — @ —
C lo sin g----------- 14.26 —
T on e—
S p o t ------------- S te a d y .
O p t io n s ______ S te a d y .

13.87-.0 7 14.02-.2 0 1 4 .1 1-.34 1 4.36-.5 7 3 4 .3 8 -.6 4
14.03-.0 4 1 4.15-. 16 14.33 — 14.42-.43 1 4.63-.6 4
13.97-.1 8 1 4 . l l - . 3 l 14.22-.4 9 14.49- 70 14 .5 4 -.7 7
1 4.14-.1 5 1 4.26-.2 7 1 4.46-.4 7 14.56-.5 7 1 4.76-.7 7
— @ — — @ — 14.48 — — @ — — @ —
14.2 4 -.2 5 1 4.36-.3 7 1 4.56-.5 7 1 4.66-.6 7 14.8 6-.8 7
14.12-.3 8 14.3 0 -.5 0 1 4 .4 1 -.6 7 4 1 .6 9 -.9 0 1 4.79-.9 6
14.33-.3 4 14.45-.4 6 1 4.65-.6 7 14.75-.7 6 14.9 5 -.9 6
— @ — — @ — — @ — — @ — — @ —
1 4.36-.3 7 14.47-.4 0 1 4.68-. 69 14.78-.7 9 14.9 8 -.9 9
14.2 3 -.4 5 14.39-.5 9 14.48-.7 4 14.77-. 99 14.87-.0 3
14.41-.4 2 14.52-.53 14.7 3 -.7 5 14.83-.84 15.0 4 -.0 5
— @ — — @ — 14.58-.75 — @ — — @ — ■
14.41-.42 14.52-.5 3 14.73-.7 4 1 4.83-.8 4 15 .0 4 -.0 5
14.36-.44 14.44-. 62 14.5 6 -.7 5 — @ — 1 4 .9 2 -.0 5
14.44-.4 5 14.55-.56 14.75-. 76 14.8 8 -.8 9 15 .0 8 -.1 0
— @ — — @ — — @ — — @ — — © —
12.ty5-.00 1 3.05-.1 5 13.20-.2 5 13.15-.2 0 1 3.30-.5 0
S te a d y .
S te a d y .

F irm .
V e ry sty .

F irm .
S te a d y .

S te a d y .
S te a d y .

S te a d y .
V ery sty .

W E A T H E R R E PO R TS B Y T E L E G R A P H .— Advices to
us by telegraph from the South this evening denote that dry
weather has been quite general and that picking has pro­
The above totals show that the interior stocks have in­ gressed very well, being completed in some districts. The
creased during the week 56,125 bales and are to-night 95,550 movement of cotton to market has been quite free.
bales less than at the same time last year. The receipts
Galveston, Texas.— Dry weather has been general over the
at all the towns have been 87,191 bales less than the same
State. The thermometer here has averaged 68, ranging
week last year.
from 56 to 80.
Abilene, Texas.— Thermometer has ranged from 40 to 80,
O V E R L A N D M O VEM EN T F O R T H E W E E K A N D
SINCE S E PT. 1.— W e give below a statement showing the averaging 60.
Brenham, Texas.— Average thermometer 68, highest 88
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for the and lowest 47.
Corpus Chrisli, Texas.— The thermometer has averaged
week and since Sept. 1 in the last two years are as follows:
69, the highest being 84 and the lowest 54.
-1909-1908S
ince
October 29—
S ince
Cuero, Texas.— Thermometer has averaged 67, ranging
W eek .
S ep t. 1.
W eek.
S ep t. 1.
S h ip p ed —
from 42 to 92.
4 5,568
22,319
72.579
V ia S t. L o u is ............................ _____ 11,115
_____
8,641
22,655
18,362
Dallas, Texas.— The thermometer has ranged from 40 to
57,395
V ia Cairo —
--------------------190
929
290
1,065
V ia R o c k Isla n d -------------------- _____
88, averaging 64.
13,291
3,454
14,695
V ia L ou isv ille . . ----------------- _____ 4,102
_____
1,921
Fort Worth, Texas.— Average thermometer 64, highest 84,
5,486
1,488
8,403
V ia C in cin n a ti- —
----------11,4 52
5,762
16,253
V ia V irgin ia p o in t s -------------- _____ 3,988
lowest 44.
14,680
6,984
17,894
V ia o th e r ro u te s , & c ------------- .......... 5,634
Henrietta, Texas.— The thermometer has averaged 68,
114,061
58,659
188,284
T o ta l gross o v e rla n d -------- _____ 38,501
the highest being 87 and the lowest 38.
D educt shipm ents—
Huntsville, Texas.— The thermometer has averaged 65,
11,366
5,150
13,560
O verlan d to N . Y . , B o s to n , & C -. 3,620
1,849
4,999
1,967
687
B etw een Interior t o w n s ------- _____
ranging from 43 to 87.
980
813
6,501
7,756
In la n d , & c ., fro m S o u t h ------ ..........
Kerrville, T ex a s — The thermometer has ranged from 32
21,089
7,812
25,060
T o t a l to be d e d u c t e d ------- .......... 5,287
to 82, averaging 57.
Lampasas, Texas.— Average thermometer 62, highest 86
163,224
50,847
92,972
L e a v in g to t a l n et o v erla n d * . . _____ 33,214
lowest 38.
* In clu d in g m o v e m e n t b y rail to C a nada.
Longview, Texas.— The thermometer has averaged 64,
The foregoing shows the week's net overland movement the highest being 85 and the lowest 43.
Luting, Texas.— The thermometer has averaged 64, rang­
has been 33,214 bales, against 50,847 bales for the week last
year, and that for the season to date the aggregate net over­ ing from 45 to 82.
Nacogdoches, Texas.— The thermometer has ranged from
land exhibits a decrease from a year ago of 70,252 bales.
37 to 86, averaging 62.
S in ce
S in ce
I n Sight ana S p in n ers'
Palestine, Texas.— Average thermometer 64, highest 84,
S ept. 1.
W eek .
W eek .
S ept. 1.
T a kin gs.
lowest 44.
440,660 2,595,114
..4 2 0 ,0 7 1 2,826,881
R e c e ip t s a t p orts to O ct. 2 9 .
92,972
50,817
. 33,214
163,224
N et o v erla n d to O ct. 29------Paris, Texas.— The thermometer has averaged 68, the
442 ,000
44,000
356 ,000
S o u th ern co n s u m p tio n to O ct. 2 9 . . 52,000
highest being 87 and the lowest 49.
535,507 3,114,338
.5 0 5 ,2 8 5 3 ,361,853
San Antonio, Texas.— Thermometer has ranged from 46 to
75,359
447,202
. 56,125
510,720
84, averaging 65.
610,866
.5 6 1 ,4 1 0
Taylor, Texas.— Average thermometer 63, highest 82 and
3 ,8 0 9 ,0 5 5
3 ,625.058
lowest 44.
Weatherford, Texas.— The thermometer has averaged 61 ;
N orth spin n ers’ takings to O ct. 2 9 . 8 2 ,997
358,753
92,571
481,636
the highest being 83 and the lowest 39.
_
.
Movement into sight in previous years:
Shreveport, Louisiana.— There has been no rain during
W eek—
Hales.
S ince S ep t. 1
Hales.
the week. Average thermometer 63, highest 80, lowest 45.
1907— N o v .
1.................... . .. 4 5 4 , 4 6 2 1907— NOV. 1 . . ....................2,737,143
1906— N o v .
2 .........
625 ,490 1906— NOV. 2 . . . ................ .3,483,325
Vicksburg, M ississippi.— There has been no rain during
1905— N o v .
3 ....................... ..4 6 7 ,1 0 5 1905— NOV. 3 . . . ................ .3 465,556
the week. The thermometer has averaged 61, the highest
1904— N o v .
4 ..................
574,451 1904— N o v . 4 ........................ 4,067,058
being 84 and the lowest 41.
,
f Q U O TA TIO N S FO R M ID D L IN G COTTON A T O T H E R
Helena, Arkansas.— Picking cotton is nearing comple­
M A R K E T S .— Below are the closing quotations of middling tion. There has been no rain the past week. The thermo­
cotton at Southern and other principal cotton markets for meter has averaged 55.7, the highest being 80 and the lowest
each day of the week.
36.




OCT. 30 1909.

THE CHRONICLE

Little Rock, Arkansas.— It has been dry all the week. The
thermometer has averaged G3.5, the highest being 84 and
the lowest 43.
Memphis, Tennessee.— Fine weather for raising the crop,
and picking and marketing are making progress. There has
been no rain the past week. The thermometer has averaged
57.2, ranging from 41 to 78.2.
Mobile, Alabama.— Cotton picking is completed in many
sections. A general killing frost occurred on the 25th. VVe
have had rain on one day of the week, the rainfall being thir­
teen hundredths of an inch.
Montgomery, Alabama.— Frost on the 25th. There has
been rain on one day of the week, the precipitation being
twelve hundredths of an inch. The thermometer has aver­
aged 61, the highest being 82 and the lowest 35.
Selma, Alabama.— There has been rain on one day of the
past week, the rainfall reaching four hundredths of an inch.
The thermometer has averaged 57, ranging from 34 to 82
Charlotte, North Carolina.— Weather fine for picking. There
has been only a trace of rain on one day of the past week.
The thermometer has averaged 54, ranging from 33 to 70.
New Orleans, Louisiana.— It has been dry all the week.
Average thermometer 67.
Savannah, Georgia.— It has rained on two days of the
week, the precipitation being three hundredths of an inch
Average thermometer 63, highest 81, lowest 40.
Charleston, South Carolina.— There has been rain on one
day the past week to the extent of twenty-five hundredths of
an inch. The thermometer has averaged 60, the highest
being 78 and the lowest 43.
IN D IA COTTON M O VE M E N T FRO M A L L PO R TS.
October 28.

1909.

Receipts at—
Week.
B om bay___________________

1908.

Since
Sept. 1.

22,000

77.000

1907.

Since
Sept. 1.

Week.
9,000

52,000

Since
Sept. 1.

Week.
18,000

79,000

' ---------------------Since September 1.

82,000
120,000
153,000

A L E X A N D R IA

R E C E IPTS

A lex a n d ria , E g y p t,
October 27.

AND

1909.

S H IP M E N T S .

1908,

1907.

R eceipts (cantars) —
3 2 0 ,0 0 0
1 ,2 0 3 ,6 8 9

S in ce S e p t. 1___________

T h is
S in ce
W eek . S ep t. 1.

E xp ort (b a les )—

9 .5 0 0
8 ,2 5 0
6.500
1.500

T o M a n c h e s te r ___________

T o ta l e x p o r t s _________ 25,730
N o te .— A can tar Is 90 lb s.

2 9 ,2 7 0
14,500
37,284
4,2 3 5

310 ,000
936 ,334

390 ,000
1,709,006

S in ce
T his
W eek. S ept. 1.
6,750
8",6oo
2,250

8 5 ,289| 17,000

16,454
6,149
35,061
5,063

T h is 1 S in ce
W eek . S ep t. 1.
9.500 42.627
7.500 32,486
5,750 38,320
1.250,
4.166

62,727 24,000^117,599

E g y p tia n bales w eigh a b o u t 750 lb s.

The statement shows that the receipts for the week were
320,000 cantars and the foreign shipments 25,750 bales.
M A N C H E S TE R M A R K E T .— Our report received by
cable to-night from Manchester states that the market is
quiet for both yarns and shirtings. The demand for
India and China is poor. We give the prices for to-day be­
low and leave those for previous weeks of this and last year
for comparison.

W O R L D ’S S U P P L Y A N D T A K IN G S OF COTTON.
C o tto n T a k in g s .
W e e k a n d S e a so n .

8 H lbs. Shirt­
Ings, common
to finest.

32* Cop
Twist.
d.
Sept
17 OH
24 m
Oct.
1 OH
8 0H
15 10
22 RB<
29 10H

d. s

d.

g.

SH lbs. Shirt­
ings, common
to finest.

32j Cop
Twist.

Cot'n
Mid
C pi's

10 H 5
urn 5

14 m

o

2

@9

74

(ft
(ft
(ft
(ft
(ft

10H 5
1 04 5
io m 5
10 V* 5
11
5

3
34
4
44
6

(ft9
®9
(ft 9
(ft 9

9
9

9

9
11

6.93
7.31 SVx

4 10J4®8
9
OH 5 1 @ 8

1%
4J4

5.54
5.33

7.29 8 *4
(ft
7.27 8 11-16®
7.41 8 11-10 (ft
7.37 8%
(ft
7.7L 8 H
(ft

954
9H

IH ®8

4J4

1M ^ 8

4 50 4 .-0

5.13

OH

9H
9X

150@8
1 w8

154P58

6
0

o

4.99
5.04
4.99

— Craig & Jenks, 27 William St., have issued a “ Ten-Year
Cotton Statement.” It gives on a large sheet in parallel
columns salient cotton statistics, including Government
monthly condition reports, ginners' reports, dates of frosts,
&c., &c. Copies may be had on request.




1908.

S ea so n .

V isib le s u p p ly O ct. 2 2 _________ 3 ,5 0 8 ,0 2 7
V isible s u p p ly S e p t. 1 ___________
A m e rica n In sigh t to O ct. 2 9 . . .
561 ,410
B o m b a y re ce ip ts to O c t . 2 8 ____
22,000
O th er In d ia s h lp ’ ts t o O ct. 2 8 . .
3.0 0 0
A le x a n d ria re ceip ts to O ct. 2 7 . .
44,000
O th er s u p p ly t o O c t . 27 •______
5.000

W eek .

S ea so n .

3 .0 3 2 ,2 4 5
1,9 3 1 ,0 2 2
3 ,8 0 9 ,0 5 5
77.000
44.0 0 0
161 ,000
33.0 0 0

610,866
9.000
3.0 0 0
4 2 ,000
8.000

1,7 1 4 ,9 8 2
3 ,6 2 5 ,0 5 8
52.000
57.000
125 ,000
45.0 0 0
5 ,6 1 9 ,0 4 0

T o t a l s u p p ly ___________ _______ 4 ,1 4 3 ,4 3 7

6 ,0 5 5 ,0 7 7 3 ,705,111

D ed u ct—
V isible s u p p ly O c t . 2 9 _________ 3 ,7 5 8 ,5 0 4

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

3 ,3 6 7 ,1 8 2

T o t a l ta k in gs t o O ct. 29
O f w h ich A m erican
O f w h ich o t h e r ________

2.2 9 6 .5 7 3
1.916.573
3 80 ,000

2 .2 5 1 .8 5 8
1.7 7 2 .8 5 8
479 ,0 0 0

384 .933
335 .933
49,000

3 37 .929
275 .929
62,000

• E m braces re ce ip ts In E u ro p e fro m B razil, S m y rn a , W e s t I n d ie s , & c.
S H IP
e x p orts
reach ed
u p fro m

P I N G N E W S .— A s sh o w n o n a
o f c o t t o n f r o m t h e U n it e d S t a t e s
3 3 0 ,2 7 0 b a le s .
T h e s h ip m e n ts
m a il a n d t e le g r a p h ic r e t u r n s , a r e

p r e v io u s p a g e , th e
th e p a st w eek h a v e
in d e t a i l , a s m a d e
a s fo llo w s :

N E W Y O R K — T o U v e r p o o l - O c t . 23— C e ltic. 4,604 u p la n d , l & a lb a leS Sea I s la n d ____________
4
T o L o n d o n — O ct. 22— M innetonka”," 200
I' "
200
T o A n tw e rp — O ct. 22— Z e e la n d , 167
I ...........
167
T o G en oa— O ct. 22— K o n lg A lb e rt. 651; R e g in a d U t a lla .'16611
751
• T o N aples— O ct. 22— K o n lg A lb e rt, 700
_ _
700
GALVESTON— To
L iv e r p o o l— O c t .
22— A lex a ndrl a n , ’ l” l” . 614"
I n k u m , 14,282; M ilton ian , 1 3 , 0 0 5 - - . 0 c t . 27— C en tu rion
__
* ^2 238
13,337 ______________________________________
T o H a v re — O ct. 22— Ild e rto n , 9 , 2 7 0 . . _O c t . 24— M adawaska",
’
1 2 ,4 1 2 . . . O c t . 27— B a ra b y , 8 , 4 6 3 . . .O c t . 28— M a s co n o m o,
6,5 3 5 ---------------------------------------------------------------------------------------- _ 3 6 ,6 8 0
T o D u n k irk — O c t . 25— G reysioK c v. astle, 291. . . . .
291
T o B rem en— O ct. 2 2 — Istra r, 1 1 , 2 5 7 . . . O ct. 26— B reslau, 1 0 ,­
2 0 7 -----O ct. 2 8 — S ch w a rzb erg, 4 ,5 4 8 ______________ _
26,012
500
T o R o tte r d a m — O ct. 2 2 — L o rd D u llerln , 5 0 0 ___________________
T o A n tw e r p — O ct. 25— G re y sto k e C astle, 2 ,2 9 1 ________________
2,291
T o G h e n t— O c t . 25— G re y sto k e Castle, 3 .0 4 6 ___________________ 3 ,0 4 6
T o C h ristia n ia— O ct. 27— N o ru e ga , 8 9 3 ________________
. .
893
T o G o th e n b u rg — O ct. 27— N oru ega, 1,200 ______________________
1,200
N E W O R L E A N S — T o L iv e r p o o l— O ct. 25— M ech a n icia n , 19,232
— O ct. 26— C a n adian , 18,480 ________________________________ 37,7 1 2
T o H a v re — O ct. 2 8 — E lto n ia n , 16,500: S eville, 6 ,8 1 9 ____________ 23,319
T o D u n k irk — O ct. 26— C a y o B o n ito , 4,664 _
_
_ . . .
4,664
T o H a m b u rg — O ct. 22— P isa , 4 8 4 .. .O c t . 28— S eville, 2 0 0 ____
684
T o A n tw e r p — O ct. 22— P h id ias, 1 ,3 2 6 __________________________
1,326
T o O p o r t o — O ct. 22— P lo I X 1 ,9 5 0 _____________________________
1,950
T o B a rcelon a —O ct. 2 2 — P lo I X , 2 ,4 5 0 _________________________
2,4 5 0
T o G e n o a — O ct. 2 3 — L iguria, 2,018 _____________________________
2,018
M O B I L E — T o L i v e r p o o l—O ct. 23 — E rn esto, 5 ,8 6 9 _________________
5,8 6 9
P E N S A C O L A — T o M anchester— O ct. 2 3 — M anchester M iller, 1,948
1,948
T o A n tw e rp — O ct. 2 8 — G eorgia, 4 0 0 _____________________________
400
T o G e n o a — O ct. 2 8 — S o p e rga , 8 5 0 ______________________________
850
S A V A N N A H — T o M a n ch ester— O ct. 23— B ro o m fie ld , 4 ,0 1 8
O ct.
27— W a n d sw o rth , 9,637
_____________
____________________ 13 655
”
6*767
T o H a v re — O ct. 2 7 — G ram p ian R a n ge , 6 ,7 6 7 ____
T o B r e m e n — O ct. 23 — In d ia n , 2 1,345; S em an th a , 9 9 7 _________ 2 2 ,332
T o H a m b u rg — O ct. 27— G ram pian R a n g e , 200 _____
__
200
T o R o tte r d a m — O ct. 23— S em an th a , 100___O ct. 27— Jessie
Bu rn s, 1 ,4 7 0 __________________________ _______ ___________________
1 570
T o R e v a l— O ct. 23 — Indian, 5 5 0 ________________________ZZZZ.ZZ
*550
T o U d d e v a lle — O ct. 27— Jessie Burns, 1 0 0 .
_____ _________ZZ
100
T o B a rcelon a— O ct. 27— A sp rotn on te, 7 ,1 0 0 _____________ .
7 ,1 0 0
T o V en ice— O ct. 26— C lara, 850 _________________________________
850
T o T rie s te — O ct. 2 6 — C lara, 2 ,1 0 0 ____ ___________________________
2,100
T o G e n o a — O ct. 2 7 — A sp ro m o n te , 3.4 0 0 ______ _______________
3 ,4 0 0
C H A R L E S T O N — T o B rem en — O ct. 25— G cr ty , 6 .5 0 0 _____________
6,500
W I L M I N G T O N — T o U v e r p o o l - O c t . 25— T h ls tle m o r, 1 5 ,9 0 0 ____ 15,900
T o H a v re — O ct. 2 3 — C a ta lin a, 8,6 0 0 .................................. ..
8,6 0 0
T o B rem en— O ct. 28— W r a e b y , 11,827 ________________________ 11,827
B O S T O N — T o L iv e r p o o l— O ct. 2 6 — W ln ifre d la n , 1 ,1 6 0 ____________
1,160
T o M anchester— O ct. 22— B osto n ia n . 1 ,3 6 0 ____ __
1,360
T o Y a rm o u th — O ct. 2 6 — B o s to n , 28
28
B A L T I M O R E — T o B rem en — O ct. 28— N eck ar, 3 , 5 0 3 . . . ..................
3,503
T o H a m b u rg — O ct. 2 6 — N u m an tia , 1,475 .
._
1,175
T o A n tw e r p — O ct. 23— M ackinaw , 637
.
.
637
P A D E L J P J r f 1A — T o L iv e r p o o l— O ct. 22— M erlon, 4 ,2 1 0 _______
4,210
S A N F R A N C IS C O — T o J a p a n — O ct. 21 — K orea , COO
.
COO
T o M anila— O ct. 21 — K orea . 100
_
_
-S E A T T L E — T o Jap an — O ct. 26— S h lm an o M ara, 2 ,7 4 i Z _ Z
Z 2 741
T o ta l

....................................... ............................................................... _ ..............3 3 0 ,2 7 0

L IV E R P O O L .— By cable from Liverpool we have the fol­
lowing statement of the week’s sales, stocks, &c., at that port:
O ct. 8.
. 51,000
O f w h ich sp e cu la to rs t o o k .. .
____
O f w h ich e x p o r te r s t o o k ___ .
1,000
. 42.000
. 4,000
. 66,000
.5 9 6 ,0 0 0
.5 1 3 ,0 0 0
T o ta l Im ports o f the w e e k .IZ . 44,000
. 28,000
.3 15,000
282.000

O ct. 15.
48,000
1,000
2,000
36,0 0 0
3,000
65,000
602,000
522,000
73,000
67,000
340 ,000
311 ,000

O ct. 22.
41,000
1,000
1 ,000
31,0 0 0
7.000
99,000
627,000
544,000
132,000
112,000
358,000
3 26 ,000

Oct. 29.
5 3 ,0 0 0
1,000
2 ,0 0 0
4 1 ,0 0 0
3 000
66,0 0 0
672,000
591 ,000
114 ,000
100 ,000
4 0 4 .0 0 0
362 ,000

The tope of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:

Market,
12:15
P. M.

1
)
J

Sulurdai/.

M onday.

Tuesday.

Dull.

Quiet.

Dull.

Wednesday. Thursday.
Quiet.

Moderate
demand.

Friday.
Quiet.

M ld.U pl’ ds

7.43

7.52

7.54

7.58

7.75

7.71

Spcc.&exp.

6,000
200

8,000
500

5,000
500

12.000
1,000

12,000
500

8,000
1,000

d.

(ft
(ft

<919

Cot'n
MM.
U pi's

1909.
W eek .

Spot.
1908.

1173

Futures.
Steady at
Market
1 6 @ 7 ots.
opened
j advance.
Market
4
P. M

Firm at
10® 11
pts. adv.

1 Steady at Feverish at
7 ® 12 t<j
1 4 ® 8 pts.
pts. adv.
J advance.

Barely st'y Steady at
at 3 pts. 4 ® 5 pts.
advance.
advance.
Easv at
2 } a® 7 H
pts. adv.

St‘ y at lp t.
dec to 4 H
pts adv.

Steady at
1 0 @ ll
pts. adv.

Steady at
5 @ 6 pts.
decline.

Strong at
12@21
pts. adv.

Strong at
1 @ 2 pts.
pts. adv.

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The p rices a re given in p ence and hundredihs.

T h us, 7 25 m eans 7 25-100 d

Sat.
12%
to
Oct. 29. p .m .
d.

O c t o b e r ..
O c t .-N o v .
N o v .-D e c .
D e c.-J a n .
J a n .- F e b .
F e b .-M ch .
M c h .-A p r.
A p r .-M a y
M a y-J u n e
J u n e -J u ly
J u ly -A u g .
A u g .-S e p t
S e p t .-O c t .
O c t .- N o v .

_

M on .

12% 12%
p .m .

7
7
7
7
7
7
7
7
7
7
7
6
6
6

d.

Tues.

4

12%

d.

d.

4

Wed.
12%

Thurs.

4

12%

d.

d.

4

Fri.
12%

4

p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m .
d.

25% 34
19% 28%
17 26%
17 26%
17 27
17 27
17 27
17 27
17 27%
16% 26%
14% 24
93% 01
57 63
43% 49

35 36
29 % 32
27 29%
27 29%
28 31
28% 31%
28% 32
29 32%
29% 33%
20 33
26% 30
03 05%
64% 66
50% 52%

d.

39
33%
32%
32%
34
34%
35%
36
37
36%
34
09
68
53

d.

40%
35
33
33
35
35%
36%
37

43 %
37%
34%
34%
35%
36%
37
37%
38%

57
52
48
48
49
49%
50
50%
38
51%
37% 38
51
35% 35% 49
09 09
18
69 67 76
55 54 61

d.

63
58
54
54
55
56
57%
58%
59%
59
56%
26
82
66

d.

55%
51
47
47
48
49
50
50%
51%
51
48%
17%
76
61

d.

65
60
56
56
57
58%
59%
60
61
60
58
28
84
68

T E X A S R A IN F A L L A N D T E M P E R A T U R E .— B y re­
quest we publish below the Government data of rainfall and
temperature for July, August and September this year.
------------ July-----------Rain- Days Temp’ture.
fa ll.* rain. High-Low.
5
104— 72
A b ile n e ------ .0 .9 0
2
105— 66
Ballinger — .1.82
4
.4.17
99— 69
6
100— 72
Brenham . . .1 ,7 6
Brow nw ood. .0.47
5
106— 69
92— 74
4
CorpusChrlstl 0.98
3
105— 72
Corsicana— .0.61
104— 69
7
Cuero ......... .4.31
104— 70
1
D a lla s .......... .0.83
102— 70
5
Dublin ____ .1 .1 0
104— 72
2
Fort W orth . .0.03
4
107— 69
Greenville . . .1 .3 5
2
106— 68
Henrietta . . .0 .7 0
4
99— 70
Huntsville - .1.38
102— 65
5
K errville___ .9.81
2
105— 69
Lampasas . . .0 .6 9
106— 72
5
Longview . . .1.45
103— 70
L u lln g ......... .4.96
3
103— 70
3
Mexla........... .0.23
98— 72
5
Palestine . . . .2.79
105— 66
1
P a r i s ........... .0.48
4
102— 70
San Antonio .3 .2 6
4
100— 68
T a y lo r _____ .1.21
1
105— 73
W a c o ........... .0.21
106— 73
5
W axahachle .2.53
* Inches.

---------- August---------- --------------September--------Rain- Days Temp'lure. Rain- Days Temp’ture.
fa ll.* rain. High-Low. fa ll.* rain. High-Low.
100— 60
1.04
4
96— 56
0.62
6
2.67
4
99— 42
2.66
5
108— 59
99— 44
7
106— 68
2.66
3
4.35
98— 49
5
111— 72
0.92
3
2.82
101— 41
104— 62
1.35
2
1.00
5
98— 74
5
98— 56
3.66 10
1.08
0.22
2
102— 48
6
112— 67
0.87
8
109— 71
0.49
2
102— 43
0.88
1.46
0.32
2
106— 42
5
115— 65
1
5.47
5
103— 70
0.49
99— 49
1.72
7
112— 70
2.06
2
100— 50
2
106— 46
4
0.35
0.90
115— 67
102— 38
5.40
7
106— 64
0.28
1
98— 44
0.18
1
0.64
3
107— 69
1.82
3
96— 36
4
105— 60
0.95
1.41
102— 38
4
3
1.05
112— 66
102— 43
1.40
3
110— 70
2.15
7
4
100— 41
4
105— 70
1.18
0.95
0
104— 44
112— 70
0.00
1.35
5
108— 70
1.83
5
100— 48
1.76
6
2
2.01
0.48
106— 40
5
113— 67
1.64
106— 72
0.52
100— 50
7
5
108— 64
6
0.21
3
96— 46
2.71
2.76
7
109— 73
0.38
102— 44
1
0.77
6
115— 64
0.33
1
105— 39

BREADSTUFFS.
Friday, October 29 1909.
Prices for wheat flour have advanced on most grades dur­
ing the week. However, as trade has been extremely quiet
the rise in quotations has been largely nominal, and due more
to the activity and strength at the Northwest than to any­
thing else. Winter wheat flour is being diverted to other
markets where there is a larger demand, and that accounts
for the strength in that kind of flour. Most of the business
transacted here of late has been in the nature of re-sales by
recent buyers on speculation. Spring-wheat flour mills at
the Northwest continue to grind to their full capacity. Rye
flour and corn meal have been dull and easy.
Wheat has had an almost eventless week. That is to say,
the net fluctuations have been within very narrow bounds.
Operators like James A. Patten are understood to be ignor­
ing wheat for the present, being more interested in cotton.
For a time prices, it is true, declined under the weight of
big receipts. Besides, there has been a lack of export buy­
ing and the flour trade in the Southwest is said to be poor.
Cash markets at the Southwest, moreover, have been weak,
and the foreign markets on the whole have declined. Crop
news from Argentina has been as a rule favorable, and the
same may be said of the advices in regard to our own wheat.
The world’s shipments, though somewhat smaller than in the
previous week, reached the very heavy total of 14,304,000
bushels, against 10,976,000 last year. The total world’s
available supply increased for the week over 8,000,000 bush­
els, as against an increase for the same week last year of
4,630,000 bushels. Beneficial rains have occurred in South­
western Russia, even if in parts of Russia the crop is said to
have suffered from drought. On the other hand, Minneapo­
lis has reported a big cash demand at strong prices, and mills
there continue to grind to their full capacity. In fact, the
Northwestern situation appears to be the one redeeming
factor from the bullish view-point. Some, too, think that
the crop has been somewhat overestimated. Some wellknown interests at Chicago have been buying on a moderate
scale. At times reports have been in circulation of damage
to the crop in Argentina by locusts. Liverpool has reported
a better demand from millers, and from this source have also
come reports that shipments from Russia will shortly be­
gin to decrease. Though the supply at Duluth has increased
noticeably, that at Minneapolis has shown but a slightaddition. To-day prices advanced, owing chiefly to reports of
an increased milling demand at firmer quotations, strong
cables from Liverpool, where Manitoba was offering less
freely, and scattered buying for both sides of the account.
Millers were buying futures at Minneapolis and Chicago.
The Continent was inquiring for wheat here, and some
thought this might be the forerunner of renewed export buy­
ing.
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN N E W Y O R K .
S a t. M o n . T u es. W ed . T h urs.
F r i.
2 1 2 % 2 1 2 % 1 2 2 % 122 %
N o . 2 red w in te r, f . o . b ...................... .1 2 3 % 121 %
D e ce m b e r d e liv e ry In e le v a t o r _____ 1 1 3 % 1 1 2 %
112% 112% 113K
113 %
M ay d e liv e ry In e le v a t o r ___________ 1 1 2 % 1 1 1 %
111% 111 % 111% 112%
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN C H I C A G O .
S a t. M o n . T u es. W ed . Th urs.
F r i.
D e ce m b e r d e liv e ry In e le v a to r _____ 1 0 5 % 1 0 4 %
104% 104 % 105% 105%
M a y d e liv e r y In e le v a t o r .....................1 0 5 % 1 0 4 %
1 0 4 % 1 0 4 % 105
105%
July d e liv e ry In e le v a t o r ___________9 8 %
98
98
97 %
98%
98%

gfc Indian com futures have been quiet at the West and
nominal here. The general drift of prices has been towards




a somewhat lower level. The weather has on the whole
been very favorable for curing the crop. Husking returns
from some scattered localities have been disappointing, but
the reports from most sections show yields fully up to ex­
pectations. The movement of the new crop is increasing
and liberal receipts are expected in the near future. The
movement of old corn is comparatively large. The cash
market at the West has been quiet. Here it has been ex­
tremely dull. Cash interests have sold futures, and there
has been scattered liquidation and more or less hammering.
To-day prices advanced. The country was offering less
freely and nervous shorts covered. The rise in wheat also
had a bracing effect.
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D C O R N IN N E W Y O R K .
S a t. M o n . T u es. W ed . T h urs. F r i.
70
6 9 % 69
69
69
Cash c o r n ....................................... ............ 70
D e ce m b e r d e liv e ry In e le v a t o r ____ 6 9 %
69%
6 9 % 69
69%
69%
D A I L Y C L O S IN G P R I C E S O F C O R N F U T U R E S IN C H I C A G O .
Sat. M o n . T u es. W ed. T h urs.
F ri.
D e ce m b e r d e liv e ry In e le v a t o r ____ 5 9 %
59%
59% 58%
59%
59%
61%
61% 60%
61%
61%
M ay d e liv e ry In e le v a t o r ___________ 6 1 %
J u ly d e liv e ry In e le v a t o r .............. . . 6 0 %
60%
60%
60%
60%
61%

Oats for future delivery in the Western market have been
quiet. Fluctuations in prices have been mainly in sym­
pathy with changes in other cereals. I t is largely a waiting
market. The belief of many is that receipts will soon in­
crease materially, and, with stocks of contract grade at Chi­
cago already large, that prices must seek a lower level. Cash
interests have been the principal sellers. The selling, how­
ever, as already intimated, has not been of the aggressive
kind. To-day prices were firmer on the advance in wheat
and corn and covering of shorts.
D A I L Y C L O S IN G P R I C E S O F O A T S I N N E W Y O R K .
S a t.
M on.
T u es.
W ed .
T h urs.
F ri.
N atural
w h i t e . . 43-46
4 3 -4 6 %
4 4 -4 6 %
44-46
44-46
44-46
W h ite
c lip p e d 4 5 -4 8 %
4 5 -4 8 %
4 6 -4 8 %
4 6 -4 8 %
4 6 -4 8 %
4 6 -4 8 %
D A I L Y C L O S IN G P R I C E S O F O A T S F U T U R E S IN C H I C A G O .
S a t.
M o n . T u es. W ed . Thurs.
F r i.
D e ce m b e r d e liv e ry In e le v a t o r ____ 40
40
39%
39%
3 9 % 40
M ay d e liv e ry In e le v a t o r __________4 2 %
42%
42%
42%
42% 42%
J u ly d e liv e ry In e le v a t o r _________ 39 %
39%
39%
39%
39% 39%

The following are closing^quotations:
W in te r, lo w g ra d e s____ 34 4 0 @ $ 4 60 K ansas stra igh ts, s a c k s .$5 10C
6' 30 K an sas clea rs, s a c k s ___ 4 50 C
W in te r p a t e n t s ________ 5 7 5
5 70 C ity p a t e n t s ____________ 6 40 (
W in te r s t r a ig h t s _______ 5 40
5 25 R y e flour, b b ls .................. 3 0 0 d
W in te r cle a rs___________ 5 00
5 85 G raham flo u r ___________ 4 15 C
S prin g p a te n ts _________ 5 60
5 45 C orn m e a l, kiln d r i e d . . 3 3 0 (
S prin g stra ig h ts ............... 5 30
5 00
Spring c le a rs____________ 4 75
G R A IN .
C orn , per bu sh el—
Cen ts.
W h e a t, p er bu sh el—
N o . 2 m ix e d ..... ..............e le v . 69
$1 16
N . D u lu th , N o . 1...........
N o . 2 y e l l o w .................f .o .b . 7 0 %
N . D u lu th , N o . 2 ...........
1 .1 4 %
N o . 2 w h i t e ________ f .o . b . N om inal
R e d w inter, N o. 2 . . . f . o . b
1 .2 2 %
H ard
“
’’
1 .2 1 % R y e , p er bu sh el—
N o . 2 W e s t e r n _______ f .o . b . 76
O a ts, p er bu sh el—
C en ts.
S ta te an d J e r s e y _______ N om in al
N atural w h ite _________
44@ 46
W h ite c lip p e d ..................
4 6 @ 4 8 % B a rley— M a ltin g _________ N om in al
F ee d in g , c . 1. f . , N . Y .
61@ 63
M i x e d __________________
N om in a l

The statements of the movements of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Receipts at—

Wheat.

Flour.

Oats.

Com .

| Barley.

R ye.

bbls.im bs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu.M lbs.
49.000
2,142,450
791,200
1,295,150
1,991,000
199,821
C h icago____
32.000
228,000,
484,900
63,800
436,200
96,200
M ilw aukee..
33,650
305,046
371,630
7,666
4,055,948
8,885
D uluth.........
82,760
661,630
729,690
35,200
2,705.050
Minneapolis.
79.500
...........
2,000
55,500
41.000
26,621
301,294
31,247
2,009
D etroit_____
12,240
159,249
216,449
1,308
10,726
Cleveland . .
515,200
78,000
6,000
66,110
859,748
188,425
St. L o u is ...
249,300
82,115
8,000
65,300
29.000
235,678
P e o r ia _____
280,600
165,000
1,167,600
Kansas City.
11,597,566
7,292,196
6,535,606

2,409,715
1,692,103
4,340,713

Since Aug. 1
1909......... 6,065,039 101,920,359
1908_____ 5,893,741 102.132,252
1907......... 4,754,240 76,868.552

38,507,530
28.316,332
55.009,766

T ot.w k .’ OO
Same wk. ’ 08
Same wk. ’07

439,633
547,668
470,387

4,531,996 2,549,775
4,340,580 2,266,202
6,229,588, 3,100.424

213,410
214,152
281,281

1
54,903,147 24.672,332 2,618,693
57,098,465 33,261.570 2,659,284
68,718,702 24,953,932 2,622,007

Total receipts of flour and grain at the seaboard ports for
the week ended Oct. 23 1909 follow:
Receipts at—
New Y o r k ............B o s t o n ....................
P h iladelphia.........
Baltim ore................
R ic h m o n d ..............
New Orleans * ____
Galveston................
Mobile
Montreal..................

Flour,
bbls.
210,604
56,070
92,994
80,678
5,676
21,472

Wheat,
bush.
1,018,200
566,158
642,214
417,939
44,096
12,000
37,000

‘ M 34
60,751

1,136,020

Corn,
bush.
91,125
42,634
41,503
147,019
34,682
104,600
116,000
22,000

Oats, Barley1
bush.
bush.
435,875 353,175
88,292
107,835
1,475
33,222
31,316
64,500
17',500
161,687

37,898

R ye«
bush
H',500

2‘ 806
26,932
8,060

8,104

Total w eek............. 534,679 3,873.627
599,563
940.227 392,518 57,396
W eek 1908 . . I . - 523 560 3,963,231
491.091
916,381 342,910 258,543
Since Jan. l'l9 0 9
13,285.909 69,341,693 33 , 695,022 38,300,066 5282,238 945,374
Since Jan. 1 1908
14,335,103 89,862,241 29,586,348 36,087,604 4505,078 2340,683
* 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. 23 U )^
Exports from —
bush.
New Y o r k ______ 936,568
B o s to n __________ 401,148
Philadelphia____ 269,544
Baltimore..............
34,877
New O rleans____
69,253
Galveston................................
M obile......................................
Montreal.................1,104,000
Total week___ 2,746,137
Week 1908______2.749,730

Corn,
bush.
47,517
25,714
25,714
171,300
9,595
81,427
22,000

Flour,
bbls.
68,212
10,491
41,420
7,581
1,683
3,057
6,434
53,213

442,927 200,003
286,004 359,515

Oats,
bush.
1,060

___
__
___20
___

17,500
12,125

Rye,

_bush.
_ __
__
___
___
.....
_
_
_._

42,000

32,383 42,000
75,403 148,490

Barleys
bush.
54,986
—
------ —
—
—
—
.........
59,990

Peas.
bush.

-- -—
-- -—
—
.....
1,272
1,272
35,822

T h e d e s tin a tio n o f th e se e x p o r ts fo r th e w e e k a n d s in c e
J u l y 1 1 9 0 9 is a s b e lo w :
----------Flour----------------------- Wheat---------------------------Corn------------Since
Since
Since
J u ly 1
Week
J u ly 1
J u ly 1
Week
Week
Exports for week and Oct. 23.
Oct. 23.
1909.
1909.
1909.
Oct. 23.
bush.
bush.
since J u ly 1 to—
bush.
bbls.
bbls.
bush.
137,142
767,197
United K ingdom __ 120,367 1,625,240 1,514,972 16,991,034
889,310
277,317
C on tinent........... ...... 46,695
508,536 1,228,165 10,094,324
318
48,920
127,977
So. & Cent. A m or.. 6,670
218,121
3,000
27,150
684,950
1,675
West Imiles _ . ......... . 21,040
418,168
1,000
15,461
Brit. No. Am. Cols. 5,231
45,494
5,000
8,226
Other Countries___ . .........
47,038
T otal.................... 200.003 2,862,597 2,746,137 27,220,060
Total 1908........... ...359,515 3,350,621 2,749,730 47,561,229

442,927 2,414,064
286,004 1,066,799

T h e w o r l d ’s s h i p m e n t s o f w h e a t a n d c o r n f o r t h e w e e k
e n d in g O c t . 2 3 1 9 0 9 a n d
s in c e J u ly 1 1 9 0 9 a n d 1 9 0 8 a r e
s h o w n in t h e f o l l o w i n g :
Corn.

Wheat.

Week
Oct. 23.

1909.

1908.

1909. ‘

Exports.

Since
J u ly 1.

Since
J u ly l.

Week
Oct. 23.

1908.

Since
J u ly 1.

Since
J u ly 1.

Bushels.
Bushels.
67,906,700 439.000
23.088.000
77,000
16.672.000 204.000
24.638.000 1,020,000
4.600.000
5.252.000

Bushels.
2.300.000
5.510.000
6.773.000
44,517,000

Bushels.
1,298,400
5.266.500
6.236.500
33,227,500

T o t a l ____ 12230000 161,639,000 142,156,700 1,740,000

59,100,000

46,028,900

Bushels.
North Amor. 3.990.000
R u ssian____ 7.272.000
312.000
Danublan . .
168.000
Argentine . .
336.000
Au stralian..
Oth. countr’s 152.000

Bushels.
43.099.000
71.888.000
9.152.000
12.208.000
3.284.000
22,008,000

T h e q u a n t it y o f w h e a t a n d c o rn a flo a t fo r E u r o p e o n d a te s
m e n t i o n e d w a s a s f o llo w s :
Wheat.

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

23
16
24
26

1 9 0 9 ..
1 9 0 9 ..
1J0S..
190 7..

Corn.

United
Kingdom.

Continent.

Total.

Bushels.
13.200.000
12.720.000
16.960.000
15.800.000

Bushels.
17.280.000
16.320.000
15.840.000
15.440.000

Bushels.
30.480.000
29.040.000
32.800.000
31.240.000

United
Kingdom.

Continent.

Total.

Bushels.
6,120,000
6.885.000
5.780.000
7.600.000

Bushels.
6.205.000
5.440.000
5.525.000
4.880.000

Bushels.
12.325.000
12.325.000
11.305.000
12.480.000

T h e v i s i b l e s u p p l y o f g r a i n , c o m p r i s i n g t h e s t o c k s in
g r a n a r y a t p r i n c ip a l p o i n t s o f a c c u m u l a t i o n a t la k e a n d
s e a b o a r d p o r ts O c t . 2 3 1 9 0 9 , w a s a s fo llo w s :
AM ERICAN G R A IN STOCKS.
Barley,
Rye.
Oats,
Corn,
Wheal.
bush.
bush.
bush.
bush.
bush.
147,000
940.000
6,000
159.000
............. 1,237,000
New York
.............
212,000
7,000
162.000
1,000
46,000
18,000
.............
441,000
Philadelphia
1,000
478.000
.............
631,000
133.000
Baltimore—
1,000
134,000
.............
60,000
151.000
New Orleans
218.000
125.000
.............
107,000
.............. 1,982,000
284.000
1.090.000
B u ffalo.........
53.000
690,000
T o l e d o _____
............. 1,039,000
411.000
40.000
44.000
1,000
550,000
147.000
170.000
79.000
1,613,000
836.000
18.000
4.188.000
Milwaukee
R307|000
120.000
457.000
30.000
199,000
D u lu th
7,818,000
955.000
73.000 1.247.000
Minneapolis
46.000
2,501,000
1.310.000
158,000 1.050.000
109.000
St. Louis
1,692,000
27,000
397.000
5,000
............. 2,201,000
207.000
505.000
1.120.000
33.000
9,000
Peoria
I
17,000
442.000
276.000
134.000
298.000
658.000
On L a k es
2,475,000
122.000
326.000
O n Canal and R iver
325,000
57,000
9,000

..

...

.......
____
.. .......
..... .......
.... .......
... .......
__ . .......
___
....... .....
_

......

12,747,000
13,380,000
STOCKS.
Oats,
bush.
254,000

619,000
567,000

3,987,000
3,977,000

Rye,
bush.
8,000

Barley,
bush.
36,000

53,000
254,000
242,000
59,000
SU M M ARY.
Corn,
Oats
bush.
bush.
3,360,000 12,747,000
254,000
53,000

8,000
51,000

36,000
34,000

Rye,
bush.
619,000
8,000

Barley,
bush.
3,987,000
36,000

627,000
618,000
895,000

4,023,000
4,011,000
6,385,000

3,360,000
Total Oct. 23 1909.-25,650,000
3,493,000
Total Oct. 16 1909..25.070.000
CAN AD IAN G R A IN
Wheat,
‘ Corn,
bush.
bush.
M ontreal53,000
Fort William
............. 4,858,090
............ 2,951,009
Other Canadian. ........... 1,778,000

..

.

Total O ct. 23 1909.-10,546,000
Total Oct. 16 1909.-10,350,000
Wheat,
bush.

American
Canadian

.. ............. 25,650,00.)
... ....... 10,546,000

Total O ct. 23 1909..36.196,000
Total O ct. 16 1909..35.420,000
Total Oct. 24 1908.-45,632,000

j

3,413,000
3,552,000
1,412,000

13,001,000

13,622,000
9.404,000

T H E DRY GOODS TRADE.
New Y ork , F rid ay N ight, Oct. 2 9 1 9 0 9 .
E a r l y in t h e w e e k t h e d e m a n d f o r c o t t o n g o o d s in t h e
p r im a r y m a r k e t w a s q u ite a c t iv e , m a n y su b s ta n tia l ord ers
f o r g e n e r a l li n e s o f s t a p l e s b e i n g r e c e iv e d f r o m l e a d i n g
j o b b e r s in v a r i o u s s e c t i o n s w h o h a d h e s i t a t e d t o c o v e r f u t u r e
r e q u ire m e n ts.
L a te r th e fu r th e r u p w a r d m o v e m e n t o f th e
s t a p l e h a l t e d t r a d e in m a n y q u a r t e r s .
C o n s i d e r a b le p r o g ­
r e s s h a d b e e n m a d e in e s t a b l i s h i n g a d v a n c e s o n g o o d s , b u t ,
o w i n g t o t h e s h a r p rise in r a w c o t t o n d u r i n g t h e p a s t f e w
d a y s , m i l l s , a s a r u l e , h a v e d e c lin e d t o a c c e p t o r d e r s f o r
f a b r ic s e v e n o n t h e n e w p r ic e b a s i s r e c e n t l y f i x e d .
M any
f a b r ic s h a v e a g a i n b e e n w i t h d r a w n .
T h e s it u a tio n c o n ­
f r o n t i n g m i lls is c o n s id e r e d m o r e a c u t e , a s t h e t i m e is n e a r e r
a t h a n d w h e n t h o s e w h o h a v e s m a ll s t o c k s o f r a w m a t e r i a l
m u s t p u r c h a s e n e c e s s a r y s u p p lie s , a n d u n le s s t h e y c a n
s e c u r e p r o f i t a b le p r ic e s f o r t h e i r p r o d u c t t h e r e w ill b e n o
a lt e r n a t iv e b u t to s h u t d o w n .
R e a s o n s f o r c u r t a i li n g a p p e a r
s t r o n g e r t o - d a y t h a n a t a n y t i m e s in c e t h e m o v e m e n t
s t a r t e d ; b u y e r s , a l t h o u g h in n e e d o f g o o d s , h a v e d i s p l a y e d
a s t r o n g r e s i s t a n c e t o f u r t h e r a d v a n c e s a n d in m a n y li n e s
b u y e r s a n d s e lle r s a r e p r a c t i c a l l y d e a d l o c k e d , a n d u n l e s s
c o t t o n d e c .i n e s m a t e r i a l l y f r o m it s p r e s e n t h i g h l e v e l , o r
u n l e s s b u y e r s r a is e t h e ir b i d s c o n s i d e r a b l y , t h e r e c a n b e l i t t le
doubt

of

a

w id e s p r e a d




c u r ta ilm e n t.

N ot

a

fe w

m i lls

in

N e w E n g l a n d a n d in t h e S o u t h h a v e a l r e a d y c lo s e d o r g o n e
o n s h o r t e r t i m e , a n d i t is n o w s t a t e d t h a t r e p r e s e n t a t i v e s o f
s e v e r a l m i l l i o n N e w E n g l a n d s p i n d l e s , in r e s p o n s e t o t h e
A r k w r i g h t C l u b ’ s c i r c u l a r , h a v e g i v e n d e f in i t e a s s u r a n c e s
t h a t t h e y w ill r e s t r i c t p r o d u c t i o n b e g i n n i n g N o v . 1 .
D u rin g
t h e c o m i n g m o n t h t h e e x t e n t o f t h i s m o v e m e n t w ill b e m o r e
c le a r l y d e f i n e d , b u t , a s a l r e a d y s t a t e d , p r e s e n t in d i c a t i o n s
a r e t h a t i t w ill b e e x t e n s i v e .
P r i c e s g e n e r a l l y h a v e r u le d
v e r y s t r o n g , w ith fu r th e r a d v a n c e s n a m e d o n n u m e r o u s lin e s ,
i n c l u d i n g g r a y g o o d s , s h e e t i n g s , d e n i m s a n d k id -f i n is h e d
c a m b r ic s , th e la tte r sh o w in g a n e x tr e m e a d v a n c e o f o n e
cent a y a rd .
J o b b e r s r e p o r t a fa ir tr a d e a n d a s a tis fa c to r y
d a ily m o v e m e n t o f m e r c h a n d ise ; s o m e m o d e r a te o rd ers are
b e i n g r e c e i v e d f o r s p r i n g g o o d s , b u t t h e b u l k o f t h e b u s in e s s
h a s b e e n c o n f in e d t o p r o m p t a n d n e a r - b y d e l i v e r i e s . I n t h e
e x p o r t d i v i s i o n s o m e in q u ir i e s h a v e c o m e f o r w a r d , b u t a t
l i m i t s f a r b e l o w s e lle r s ’ v i e w s , w i t h t h e r e s u l t t h a t b u s in e s s
g e n e r a l l y w i t h t h e la r g e r m a r k e t s is a t a s t a n d s t i l l .
H o s ie r y
a n d u n d e r w e a r h a v e b e e n in a c t i v e r e q u e s t f o r p r o m p t a n d
n e a r -b y s h ip m e n t , a n d b u y e r s a r e u r g in g d e liv e r y o f e v e r y ­
t h i n g c o n t r a c t e d f o r a t o l d p r i c e s ; s e lle r s a r e n o t a c t i v e l y
s e e k in g n e w b u s i n e s s a t p r e s e n t .
T h e s ilk p ie c e g o o d s m a r ­
k e t is r e p o r t e d a s u n s e t t l e d a n d u n s a t i s f a c t o r y , c o m p e t i t i o n
fo r s p r in g b u s in e s s , to g e th e r w ith th e c o u r se o f ra w m a t e r ia l,
h a v i n g c a u s e d c o n s i d e r a b le p r i c e - c u t t i n g .
I n m e n ’s w ea r
t h e r e h a s b e e n s o m e in c r e a s e in t h e c a ll f o r s t a p l e s , b o t h
w o r s t e d s a n d w o o l e n s f ig u r in g in t h e d e m a n d .
S p rin g
d r e s s f a b r i c s h a v e b e e n in u r g e n t r e q u e s t f r o m j o b b e r s a n d
c u t t e r s , w h il e a n i n c r e a s e d i n t e r e s t h a s b e e n s h o w n in g o o d s
s u ita b le fo r th e c u r r e n t s e a s o n ; o n d u p lic a te s le a d in g p r o ­
d u c e r s h a v e a d v a n c e d p ric e s 5 % to 7 j ^ % .
D O M E S T I C C O T T O N G O O D S .— T h e e x p o r ts o f c o tto n
g o o d s fr o m th is p o r t fo r th e w e e k e n d in g O c t . 2 3 w e re 3 ,1 6 4
p a c k a g e s , v a l u e d a t $ 2 3 1 , 9 5 0 , t h e ir d e s t i n a t i o n b e i n g t o t h e
p o i n t s s p e c if ie d in t h e t a b le s b e l o w :

-------- 1909-------- --------------- 1908--------N ew Y ork to October 2 3 —
W eek .
G reat B rita in ...................................... _______
45
O th er E u ro p e _____________________ _______
16
C h in a ______________________
In dia ________ ____________________ _______ 250
A r a b ia _____________________________
A f r i c a ____ ______ __________________
W e s t I n d i e s . ______________________ ---------- 870
M e x ico _____ _________ _______ _______
60
Central A m e r ic a .................. ........ . . ---------- 304
S o u th A m e r ic a __________ __________............ 541
O th er C o u n trie s___________________ ............ 400

S in ce
J a n . 1.
1,534
889
160,941
14,281
24,024
13,550
33,6 4 5
1,387
11,464
42,7 6 0
17.058

W eek .
10
5
2.288
2
710
18
290
1,385
772

S in ce
Jan. l .
694
969
18,550
12,042
25,414
8,144
22,2 5 6
1,321
12,765
3 4 ,3 8 0
18,3 2 6

_________
____
_____ ______ 3.164
T o ta l
5.480
321 .533
154,861
T h e v a lu e o f th e se N e w Y o r k e x p o r t s s in c e J a n . 1 h a s b e e n
$ 1 7 , 5 2 1 , 0 9 3 in 1 9 0 9 , a g a i n s t 5 9 , 6 7 3 , 3 2 4 in 1 9 0 8 .
D o m e s t i c c o t t o n s h a v e d i s p l a y e d a f ir m e r t e n d e n c y , w i t h
n e w p r ic e s e s ta b lis h e d o n s o m e lin e s .
B r o w n sh e e tin g s,
S o u t h e r n s t a n d a r d , a r e n o w a t 7 % c . f l a t , w h il e 4 - y a r d
s h e e t i n g s , a t 6 3 4 c . , s h o w a n a d v a n c e o f 3 4 c . in t h e a s k i n g
p r i c e . D e n i m s , w h ic h a w e e k a g o w e r e r u l i n g a t 1 3 3 4 c . t o
1 6 c ., a r e n o w q u o t e d a t 1 4 c . to 1 7 c ., a n d k id -fin is h e d c a m ­
b r ic s h a v e b e e n r a is e d 3 4 c - t o 4 3 4 @ 4 3 4 c T h e v o lu m e of
t r a d e w it h j o b b e r s in d o m e s t i c s h a s b e e n m o d e r a t e ; r e t a ile r s
h a v e c o n tin u e d to p u r c h a s e , b u t h a v e s h o w n little d is p o ­
s itio n to s to c k u p .
S t a p l e p r i n t s h a v e c o n t i n u e d in f a ir
d e m a n d , b u t th e m a r k e t sh o w s ir r e g u la r ity , s o m e p r o d u c e r s
r e le a s in g g o o d s a t d i s c o u n t s , w h il e o t h e r s h a v e f u r t h e r
s h o r te n e d d is c o u n ts a n d a re n o t a n x io u s to s e ll.
T r a d e in
d e n i m s h a s b e e n c o n f in e d p r i n c i p a l l y t o s p o t a n d n e a r - b y
d e li v e r i e s , a s m i l l s a r e n o t in c lin e d t o s e ll f r e e l y f o r f o r w a r d
s h ip m e n t, e v e n a t th e r e c e n t a d v a n c e s . O n b r o w n g o o d s ,
a l s o , s o m e l e a d i n g h o u s e s a r e r e p o r t e d a s u n w i lli n g t o se ll
e it h e r f o r t h i s o r n e x t y e a r ’ s d e l i v e r y .
A n i n c r e a s e d c a ll
is n o t e d f o r fin e s h i r t i n g s f o r f a ll d e l i v e r y , a n d s o m e o f t h e
h i g h e r -p r i c e d lin e s h a v e b e e n w i t h d r a w n .
T r a d e in c o t t o n
li n in g s h a s e x p a n d e d m a t e r i a l l y u n d e r a n in c r e a s e d d e m a n d
f r o m s e c o n d a r y d i s t r i b u t o r s a n d c u t t e r s in n e a r ly a ll s e c t i o n s ;
th e b u lk o f th e b u s in e s s h a s b e e n fo r th is y e a r ’s s h ip m e n t .
T r a d e in p r i n t c lo t h s h a s b e e n l i m i t e d , o w i n g t o t h e fir m e r
v i e w s o f m i lls a n d t h e i r u n w i llin g n e s s t o s e l l , e v e n a t t h e
h i g h e r f ig u r e s n a m e d .
R e g u la r s h a v e r u le d v e r y fir m b u t
a r e s t ill q u o t e d , n o m i n a l l y , a t 4 c . ; s t a n d a r d w id e g o o d s
h a v e b e e n a d v a n c e d to 6 c .
W O O L E N G O O D S .— S ta p le w o rste d s a n d w o o le n m e n ’ s
w e a r f a b r i c s w e r e t a k e n in la r g e r v o l u m e d u r i n g t h e p a s t
w e e k , a n d th e s t e a d y a p p lic a tio n o n s ta p le lig h t -w e ig h t s
h a s p la c e d l e a d i n g p r o d u c e r s , i t is s a i d , w e ll u n d e r o r d e r .
C a r d e d w o o l e n g o o d s h a v e b e e n in s t r o n g r e q u e s t .
G en­
e r a l ly s p e a k i n g , m e d i u m - p r i c e d f a b r i c s c o n t i n u e t o b e m o s t
h ig h ly r e g a r d e d ; f a n c y w o r s te d s h a v e d r a g g e d , b u t f a n c y
w o o l e n s u i t i n g s h a v e b e e n d u p l i c a t e d m o r e l i b e r a l l y , w h il e
h e a v y - w e i g h t w o o l e n o v e r c o a t i n g s h a v e m e t w i t h a la r g e s a l e .
S e c o n d a r y d is t r ib u to r s o f d re ss g o o d s h a v e b e e n o p e r a tin g
a c t i v e l y o n f a b r i c s f o r t h e c u r r e n t s e a s o n , a n d in m a n y i n ­
s ta n c e s h a v e r e q u e s te d a g e n ts to a n tic ip a te d e liv e r y o f s p r in g
good s.
A d v a n c e s w e re a n n o u n c e d d u r in g th e w e e k o n v a ­
r i o u s li n e s r a n g i n g f r o m 5 %
to 7 3 4 % o n g o o d s fo r th is
s e a s o n a n d a lso o n s p r in g fa b r ic s .
F O R E I G N D R Y G O O D S . — A n i m p r o v e d d e m a n d is r e ­
p o r te d fo r im p o r te d w o o le n a n d w o r s te d g o o d s a n d s u b ­
s ta n tia l fu r th e r o r d e rs a r e s a id to h a v e b e e n b o o k e d b y th e
le a d in g in te r e s ts .
T h e c a ll f o r h o u s e k e e p i n g li n e n s h a s b e e n
w e ll m a i n t a i n e d , a n d a d d i t i o n a l r e q u e s t s f o r d r e s s li n e n s
fo r s p r in g h a v e c o m e fo r w a r d fr o m s u it m a k e r s .
A f a ir b u s i ­
n e s s h a s b e e n d o n e in s p o t b u r l a p s , b u t f u t u r e s h a v e r u le d
q u i e t ; p ic e s r e m a i n u n c h a n g e d a t 4 . 6 0 c . f o r 1 0 3 4 - o u n c e
a n d 3 .6 0 c . fo r lig h t -w e ig h t s .

State atip City Depaptment,

D e n o m in a tio n : 29 b o n d s o f $500 ea ch an d 5 b o n d s o f $100 e a c h . In terest
a n n u a lly In B la ck sb u rg . M a tu rity N o v . 1 1949, s u b je c t to call a fte r
20 years.
B o n d s are e x e m p t fro m ta x e s . C ertified c h e ck fo r $500,
p a y a b le t o th e C h airm an o f th e B oa rd o f P u b lic W o r k s , Is r e q u ire d . T h e
to w n has no d e b t a t p re se n t.
Assessed v a lu a tio n $ 26 2,35 0.

News Items.

Bloomington, McLean County, 111.— Bond Sale.— On Ocl .
29 the $50,000 4% 10-20-year (optional) coupon wat -works
improvement bonds described in V. 89, p.
98, were
awarded, it is stated, to N. W. Halsey & o. of Chicago
at 99.15.
Brookline, Mass.— Bond Award Pos' oned.— The award of
the following 3.40% coupon bonds, roposals for which were
received on Oct. 28, was posto cd until N ov. 1:

Council Bluffs, Iow a.— Bonds Declared Valid.— On Oct. 22
Judge Smith McPherson of the U. S. Circuit Court dissolved
the temporary injunction issued by him in January 1909
(V . 88, p. 171), restraining the issuance of $600,000 bonds
voted in October 1908 for a municipal water system. E v i­
dence in the case was taken during the summer by the spe­
cial examiner, J. J. Ferguson. The principal question raised
in the suit was whether the proposed bond issue would in­
crease the indebtedness of th"
. e/oria tne niu..
scribed by the Constit .on. The city’s contention was that
it could issue
.us up to 5% of the actual value of the propertv ne . city. The plaintiff argued that the city could not
.egally exceed 5% of the taxable value, this being the word
used in the State Constitution. Judge McPherson, however,
construes “ taxable” to mean the actual value of property
subject to taxation, and not the assessed value which, by the
State code, is fixed at only 25% of the actual value. In taking
this position Judge McPherson refers to the opinion of the
State Supreme Court handed down in 1905 in the case of
Halsey vs. City of Belle Plaine (128 Iowa 467), which, he
says, puts at rest the question raised.
New York C ity.— Bonds Authorized by Board o f Esti­
mate to Begin Construction of Fourth Avenue Subway.— At
yesterday’s meeting the Board of Estimate by unanimous
vote approved the contracts let by the Public Service^ Com­
mission in May 1908 for the construction of the first six sec­
tions of the Fourth Avenue subway, to extend from the
Manhattan Bridge to 43d St., Sooth Brooklyn, and repre­
senting a cost to the city of $15,186,379. See V. 86, p. 1345.
The Board also authorized the i. umce of $2,850,000 cor­
porate stock necessary to begin the work and adopted a
resolution requesting the Public Service Commission to make
a requisition for such additional issues of stock as are neces­
sary to cover the construction of all six sections.
The questiwn of approving contracts and authorizing
bonds for the Fourth Avenue subway came up in June 1908,
but at that time an injunction was issued by the Supreme
Court, u ion petition of Jefferson M. Levy, enjoining the
Board of Estimate from taking any action in the matter.
The point raised was that the city had exceeded its debt
limit and Benj. F. Tracy was appointed referee to determine
the borrowing capacity on June 30 1908. The referee de­
cided that on the date in question (June 30 1908) the city
could still borrow $106,205,714 66 and be within the limit
fixed by the Constitution. As stated last week this amount
was reduced by the Court of A; p ails to $51,759,616 74.
With this as a basis it is estimated by city authorities that
at the present time the city has the legal right to borrow
up to about $90,000,000.

Bond Proposals and Negotiations this vreei
&&V0 bean as follows .
Autauga County (P . O. Prattville), Ala — Bond Offering.
— Proposals will be received until 12 m. N ov. 15 by G. S.
Livingston, Probate Judge, for $55,000 refunding court-house,
$20,000 refunding jail and $75,000 public road 4>^% gold
coupon bonds.
D e n o m in a tio n $50 0.
D a te , d a y o f d e liv e ry .
In te re st s em i-an n u al.
M a tu rity 30 years,
B on us are free fro m all ta x e s. C ertified ch eck fo r
$5U0, p a y a b le t o the P rob a te J u d g e , Is re q u ire d . T o t a l d e b t , these issues.
Assessed v a lu a tion $ 4 ,5 0 0 ,0 0 0 .

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Ballston Spa, Saratoga County, N . Y . — Bond Offering.—
Proposals will be received until 12 m. to-day (Oct. 30) by
Donald McLcnnon, Village Treasurer, for the following 4>^%
bonds:
$ 7 ,000 w a ter b o n d s .

M atu rity $500 y e a r ly o n N o v . 1 fro m 1010 t o 1023

2.0 0 0 w ater w ork s b o n d s.
M atu rity $500 y e a r ly o n D e c. 1 fro m 1910 to
1913 Inclu sive.
500 sew er a n d Jud gm en t b o n d s.
M a tu rity Ja n . 1 1915.
A u th o rity C h ap ter 24, C on so lid a te d Law s o f 1909.
D e n o m in a tio n $500.
In teres t a n n u a lly a t the V illage T re a su re r’s o ffic e .
P u rch a ser to p a y 10%
o f p u rch ase price u p on n otice o f a c c e p ta n c e o f bid a n d b alan ce o n x\ov. i ,
w hen b on d s w ill be d eliv ered .

Belvidere, Boone County, III.— Bond Election.— An elec­
tion will be held Nov. 2 to vote upon propositions to issue
the following 5% bonds:
$ 14 ,000 w a ter-w ork s Im p rov em e n t b o n d s . M atu rity $1,400 y e a r ly from
1911 to 1920 in clu siv e.
,,
,
.
,
2 0 .0 0 0 general ex p en se b on d * .
M a tu rity $ 1 ,2 0 0 , p a y a b le y e a r ly , be g in ­
ning 1912.
D e n om in a tion $100.

Benoit, Bolivar County, Miss.— Bond Offering.— Further
details are at hand relative to the offering on Nov. 2 of the
$10,000 5%* gold coupon water-works bonds mentioned in
V. 89, p. 1023. Proposals will be received until 7 p. m.
on that day by M. M. Thompson, Mayor.
D e n o m in a tio n $500.
D ate O c t . 5 1909.
In terest s e m i-a n n u a lly a t the
H a n o v e r N a tion a l Hank In N ew Y o r k C ity .
M atu rity O ct. 5 1920.
B on ds
are e x e m p t from S ta te an d c o u n ty t a x e s . C ertified ch e ck fo r $500, p a y a ­
ble to th e M a yor, Is rep a ired . T h e to w n has n o d e b t at presen t.
Assessed
v a lu a tio n 1909. $ 17 2,97 6.

Blacksburg, Cherokee County,So.Car.— Bond Offering.—
Proposals will be received until Nov. I by P. II. Freeman,
Chairman Board of Public Works, for $15,000 5% coupon
electric-light, sidewalk-improvement and refunding bonds.




$35 ,000 b o n d s to c o n s tr u c t W as •
o n , W a ln u t and H igh streets an d im ­
p r o v e the V illage
e.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate Jan . 1
19 7.
, .1,000 y e a rly fro m 1011 to 1917 Inclusive.
57.000 bo n u s o r th e S aw Mill B rook V a lle y S ew er.
D e n o m in a tio n $ 1,000.
D a te Ja n . 1 1909. M atu rity $3,000 y e a r ly fro m 1911 to 192#
Inclu sive.
T
,
115 ,900 new p u b lic -lib r a r y b o n d s .
D e n o m in a tio n $ 1 ,100.
D ate Jan . 1
1909.
M atu rity $6,1 0 0 y e a rly fro m 1911 to 1929 in clu sive .
95.0 0 0 w a te r s crip .
D e n o m in a tio n $ 1 ,0 0 0 .
D ate Ja n . 1 1009. M atu r­
ity $ 5 ,0 0 0 y e a r ly fro m 1911 to 1929 Inclu sive.
T h e a b o v e loans w ill be Issued In th e fo rm o f n o te s It so d esired b y the
p urchaser.

California, Mo.— Bond Offering.— Proposals will be re
ccived until 7:30 p. m. N ov. 1 by H. E. Blakeman, City
Clerk, for $30,000 5% water-works bonds.
In te re st a n n u al.
M a tu rity 20 y e a r s , s u b je c t to call a fte r 10 years.
E ach b id d e r will be re q u ire d to d e p o s it $500 w ith the C ity T reasu rer.
T o ta l d e b t a t p re s e n t, $ 4 ,0 0 0 . A ssessed va lu a tio n o n Jun e 1 1907, $ 88 8,­
37 0 . T h e se bon d s w ere v o te d last F eb ru a ry an d w ere su b se q u e n tly
aw a rd e d lo U len , S utherlln & C o . o f C h ica g o . T h e y refu sed th em , h o w ­
e v e r , as th eir a tto r n e y s cla im e d th a t the e le ctio n n o tice w as d e fe c tiv e .
B ids a re n o w b e in g ask ed fo r w ith the u n d ersta n d in g th a t a new e lection
w ill be held If the p u rch aser so desires.

Camden County (P . O. Camden), N . J.— Bond Offering.—
Proposals will be received until 11 a. m. N ov. 10 by Alfred
L. Sayers, Director Board of Chosen Freeholders, for the
following 4 Y i% coupon or registered bonds mentioned in
V. 89, p. 1098: $35,000 to improve the Camden and Iladdonficld Turnpike and $32,000 to improve Brown’s Corner,
Nicholson, Coffin’s Corner and Gibbsboro roads.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate N o v . 1 1900.
In te re st se m i-a n n u a lly at
the o ffic e o f the U n ited S tates M ortg age & T ru s t C o. In N ew Y o r k C ity.
M atu rity N o v 1 1934. C ertllied c h e ck o n a n a tio n a l ban k fo r 5 % o f b id ,
p a y a b ie to the C o u n ty C o lle c to r , Is re q u ire d .

The off icial notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Carbondale, Lackawanna County, Pa.— Bond Sale.—-On
Oct. 26 the $13,000 4% coupon re-paving bonds described
in V. 89, p. 1098, were awarded to the First National Bank
of Carbondale at par and accrued interest. A bid of par
and accrued interest, less $500 for attorneys’ fees, was also
received from Otis & Plough of Cleveland. Maturity 1922.
Oincinnati-Delhi, Ohio.— Election on Annexation.— The
question of annexing the village of Delhi will be submitted
to a vote of the people of Cincinnati on Nov. 2.
Clarksburg, Harrison County, W . V a.— Bond Offering.—
Further details are at hand relative to the offering on N ov. 5
of the $48,400 refunding and the $221,600 water, paving and
sewerage 4 }^ % gold bonds mentioned in V. 89, p. 1023.
Proposals for these bonds will be received until 12 m. on
that day by Will II. Cole, City Clerk.
D e n om in a tion $ 1 ,0 0 0 .
D a te O ct. 1 1909.
In te re st a n n u a lly at th e E m ­
pire N ation a l Bank o f C lark sbu rg.
M a tu rity O c t . 1 1939, s u b je c t t o call
a fte r 1918. C ertllied c h e ck fo r 5 % o f b id , p a y a b le to the " C it y o f C larks­
b u r g ,” Is requ ired . T h e b o n d s w ill be d e liv e re d w ith in 20 d a y s fro m the
d a te o f a w a rd .

Cook County (P. O. Chicago), III.— Bonds Proposed.— It
is rumored that the October Grand Jury proposes to recom­
mend the issuance of $4,000,000 hospital bonds.
Conrad School District (P. O. Conrad), Teton County,
Mont.— Bond Sale.— On Sept. 11 the Seattle Trust Sc Title
Co. of Seattle purchased $1,500 6% 15-20-year (optional)
school-building bonds at 102.49. Denomination $100.
Date Oct. 1 1909. Interest Jan. and July.
Covington, Kenton County, K y .— Bond Offering.— Pro­
posals will be received until 5 p. m. Nov. I by 11. C. Klostermann, City Clerk, for $2,000 6% Michigan Avenue improve­
ment bonds.
, __

D en om in a tion $100.
D ate O ct. 1 1909. In te re st o n J a n . 1. M atu r­
ity $200 y e a rly from 1910 to 1912, Inclu sive, $300 ye a rly fr o m 1913 t o 1918
in clu sive an d $200 In 1919.

In addition to the above, proposals will also be received at
the same time and place for $ 100 6% Williamson St. bonds.
D e n om in a tion $100.
D ate O ct. 1 1909.
In te re st Jan . 1.
$100 o n O ct. 1 In ea ch o f th e years 1912, 1015, 1918 a n d 1J19.

M atu rity

Cuba Union Free School District No. 1 (P. O. Cuba), A lle­
gany County, N . Y . — Bond Sale.— Isaac W. Sherrill of Pough­
keepsie, offering 100.15 and accrued interest for 4j^s, was
the successful bidder on Oct. 27 for the $39,500 coupon (with
privilege of registration) school-building bonds described in
V. 89, p. 1099. Maturity part yearly on N ov. 1 from 1910
to 1930 inclusive.
Cuyahoga County (P . O. Cleveland), Ohio.— Bond Offer­
ing.— Proposals will be received until 11 a. m. Nov. 3 by the
Board of County Commissioners, Randolph W McCray,
Clerk, for the following 4 x/ i% coupon Warner tload improve­
ment bonds:
„ ,
.
$25,236 (c o u n t y ’s p o rtio n ) b o n d s.
D e n o m in a tio n $ 1 ,0 0 0 .
M a tu rity part
each six m onths fro m A p ril 1 1910 to O ct. 1 1919 Inclu sive.
6,500 assesitn ent b o n d s.
D e n o m in a tio n $500.
M atu rity on O ct. 1 as
follow s: $500 y e a r ly fro m 1910 to 1016 Inclu sive an d $1,000 1*
each o f the years 1917, 1018 an d 1019.
„ . ..
,
A u th o rity S ection s 22b and 463 7-9 , R e v is e d S ta tu te s.
D ate N o v . 1
1909.
In te re st A p ril t an d O ot. 1 a t the C o u n ty T r e a s u r e r s o ffic e .
IiU
m ust be u n co n d itio n a l and be m ade o n ea ch Issue s e p a r a te ly . Certlne*.
•heck fo r 1 % o f b o n d s bid fo r , p a y a b le to the C o u n ty T re a su re r, Is r e q u ir e d .
B o n d * will be d e liv e re d w ith in 10 d a y s fro m the tim e o f a w a rd .

Dayton, Sheridan County, W yo.— Bond Sale.— This town
on Oct. 21 accepted a bid of par and accrued interest sub­
mitted by the State of Wyoming for the $10,000 5% 15-30year (optional) water-system bonds offered on Oct. 10 and
described in V. 89, p. 947. This was the only proposal re­
ceived.
Delaware County (P. O. Delaware), Ohio.— Bond Offering.
— Proposals will be received until 1 p. m. Nov. 4 by the
County Commissioners for $130,380 4>£% road-improve­
ment bonds.
A u th o r ity , S ection 4670-19 R ev ised S ta tu te s.
D en o m in a tio n : 120 b on d s
o f 51,000 each am i 20 b on d s of $819.
D ate S e p t. 1 1909.
In te re st se m i­
a n n u a lly a t the C o u n ty T reasu rer’s o ffic e .
M a tu rity $6,819 ea ch s ix m on th s
rom M arch 1 1 1 o t » ; ■> . I 1919, l a c ljs lv e .
C ertified ch e ck (o r cash) on a
hank In D elaw are C o u n ty fo r $2,000, pa ya b le t o the C o u n ty A u d ito r , Is re­
q u ir e d . P u rch a ser to p a y a ccru ed Interest. A . S . C on klin Is C o u n ty
A u d ito r .

(optional) school-house bonds registered (V . 89, p. 550) on
Aug. 21 were awarded to I. B. Walker at par.
D e n o m in a tio n $ 1 ,0 0 0 .

D ate Ju n e 3 1909.

In te re st an n u a l.

Grand Rapids, Kent County, Mich.— Bond Sale.— On
Oct. 25 Spitzer & Co. of Toledo were awarded the $87,000
street-improvement and the $12,000 sewer-construction
4 Y i% 3-5-year (serial) coupon bonds described in V. 89,
p. 1100, at 100.751 and accrued interest. Following are the
bids:
S p itz e r & C o ., T o l e d o -------$99 ,744 1 7| T h os. J . B o I g c r C o ., C h lc .$ 9 9 ,5 0 5 10
. Vrenlsfl ? & C o -> C lc v - 99.654 00 R . L . D ay & C o ., B o s t o n . 99,3 3 5 61
l'lr s t N a t. B a n k , C l e v e . . 99,635 0 0 1F arson, S o n & C o ., C h i c . . 99,2 0 0 00

Hamilton County (P . O. Chattanooga), Tenn.— Price Paid
for Bonds.— We are advised that the price paid for the
$150,000 4^4% 20-year school bonds disposed of on Oct. 20
to Scasongood <k Mayer of Cincinnati was 102.036, and not
Denton County Precinct No. 1, Tex.— Bond Election Pro­ par as reported in V. 89, p. 1100. This is on an interest
posed.— The Commissioners have been petitioned, it is re­ basis of about 4.347%. Following are the bids:
ported, to call ;in election to vote on the question of issuing S e a s o n g o o d & M a y e r, C In .$ 1 5 3,05 5 00
W e il, R o th & C o ., C In___ $ 1 K
i,l 50
$300,000 permanent-road bonds.
H a m ilto n N a t .B k ., C h at. 152,602 00 W . R . T o d d & C o ., C in ._
0,2 5 0 00
N .W . H alsey & C o ., C h ic. 152 ,550 00 A . B . L e a ch & C o ., C 1 - 150 ,2 4 0 00
Dorranceton (P. O. Wilkes-Barre), Luzerne County, Pa. C liatt. S a v . B k ., C h a t t . . 151 ,250 00 E . H . R ollin s & So
^ h . 150 ,135 00
D e n o m in a tio n $ 1 ,0 0 0 .
D ate N o v . 1 1909.
— Loan Offerings.— Proposals will be received until 12 m.
In '
st se m i-a n n u a l.
N ov. 1 by C. B. Ilo yt, Chairman Finance Committee, for
Harris County Drainage District
o. 2, Tex.— Bonds
the following 5% coupon loans:
Awarded in Part.— Of an issue
..>200,000 5% drainage
$8,000 b o n d s t o purch ase land on w h ich t o e re ct p u b lic bu ild in gs.
M abonds, $165,000 were sold
. May 3 to Kimsear Bros. &
_
) u rlty 52,000 yea rly on N o v . 1 from 1915 to 1918 Inclu sive.
'ihornburg at par. T” .est semi-annual. We were at first
7.0 0 0 b on d s to p a v e U n ion Street and R u tte r A v e n u e . M atu rity on N o v . 1
as fo llo w s : $1,0 0 0 ye a rly fro m 1910 t o 1916 Inclusive and $510 In
advised that this : sue was purchased by Spitzer & Co. of
1917.
Toledo (V . 8 . , p. 796), but now learn that no such sale took
7.0 0 0 assessm ent certifica tes t o p a v e U n ion S treet an d R u tte r A v e n u e .
M atu rity 5 y ea rs, s u b je c t to call a fte r on e year.
plac ■.
D e n o m in a tio n $50 0.
D ate N o v . 1 1909.
In terest se m i-a n n u a lly In
xiartshorne, Pittsburg County, Okla.— Bond Sale.— The
D o rr a n ce to n .
B on d s are free from S ta te ta x . T o ta l d e b t . Inclu din g these
Issues, $68 ,487 53.
Assessed v a lu a tio n fo r 1909, $ 3 ,1 6 4 ,1 7 6 .
$80,000 water and $25,000 sewer 5% 25-year bonds offered
Du Bois School District (P. O. Du Bois), Pa .— Bond Sale. on Sept. 13 and described in V. 89, p. 487, have been taken
— On Oct. 20 the $65,000 4 j/f>% 10-30-year (optional) coupon at par by the Freeborn Engineering & Construction Co. of
high-school-building bonds described in V. 89, p. 947, were Kansas City, Mo., in payment for work done. These bonds
awarded to the Du Bois National Bank of Du Bois at 100.02 were awarded last April to S. A. Kean & Co. of Chicago.
and accrued interest. Bids were also received from Otis & We are informed, however, that the purchasers did not pay
Hough of Cleveland, the Pittsburgh Life & Trust Co. of for the bonds within the time allowed by the city and that
Pittsburgh and Crawford, Dyer & Cannon of New York City. they were therefore re-advertised for sale.
Duval County (P. O. Jacksonville, Fla.— Bonds Voted.—
Hempstead Union Free School District No. 9 (P. O. Free­
The election held Oct. 2G resulted in favor of the proposition port), Nassau County, N. Y .— Bond Safe.— The $8,000 bonds
to issue the $1,000,000 5% 30-year coupon road and bridge due $1,000 yearly on Jan. 1 from 1920 to 1927 inclusive and
bonds mentioned in V. 89, p. 947.
the $35,000 bonds due $1,000 yearly on Jan. 1 from 1920 to
East Cleveland School District (P. O. East Cleveland), 1954 inclusive, proposals for which were asked until
Cuyahoga County, Ohio.— Bond Election.— An election will June 15, have been sold as 4s. See V. 88, p. 1386, for a
be hold Nov. 2 to vote upon the question of issuing $100,000 description of these bonds.
bonds for two new schools and an addition to an old one.
Hollywood Union High School District, Cal.— Bond Offer­
East Livermore Water District (P. O. East Livermore). ing.— Proposals will be received until Nov. 8, it is stated,
Androscoggin County, Me.— Bond Sale.— During March and for the $100,000 polytechnic-high-school bonds recently
April $97,000 4% 20-year bonds were disposed of at private voted. V. 89, p. 1024.
sale to E. II. Rollins & Spns of Boston. Denominations
Huntley School District No. 85 (P. O. Huntley), 111.—
$500 and $1,000. Date Feb. 1 1909. Interest semi-annual, Bond Sale.— On Sept. 25 an issue of $8,000 5% school­
Enid, Garfield County, Okla.— Bond Offering.— Proposals building bonds was awarded to John Nuveen & Co. of Chicago
will be received until 9 p. m. N ov. 5 for $23,000 5% funding at 100.95.
bonds. Interest payable at City Treasurer’s office. Certi­
A u th o rity v o t e o f 29 " f o r " t o 15 " a g a in s t ” a t e le ctio n held J u ly 21 1909.
In terest an n u a l. A laturity $800 y e a rly o n A u g. 1 fro m 1910 t o 1 9 1 9 , In­
fied check for $500 is required.
clu sive .
Erie Township (P. O. La Came), Ottawa County, Ohio.—
Independence, Jackson County, Mo.— Bond Election.— An
Bond Sale.— An issue of $4,000 5% bonds offered on Oct. 27 election will be held N ov. 2 to vote upon a proposition to
was awarded to the First National Bank of Cleveland at issue $30,000 4% bonds to buy site and erect city hall. De­
107.10. The bids were as follows:
nomination $1,000. Maturity not less than 5 and within
F irst N a t. B a n k , C le v e la n d . .$ 4 ,2 8 4 I S c a s o n g o o d & M a y e r, CIn
$4 265
20 years.
O tis & H o u g h , C le v e la n d ____ 4 ,2 8 2 (
A ll o f the a b o v e bid d ers offered a ccru e d Interest In a d d itio n to th eir bid
Jackson, Jackson County, Mich.— Bond Offering.— Pro­
D e n o m in a tio n $ 1 ,0 0 0 .
D ate O ct. 15 1909. In te re s t s e m i-a n n u a l’
posals will be received until 5 p. m. Nov. 1 by Jode Harring­
M a tu rity p art y e a r ly from 1922 to 1925 Inclu sive.
‘
Fairbury, Livingston County, III.— Bond Offering.— Fur­ ton, City Recorder, for $5,000 4% hospital bonds.
o m in a tio n $ 1 ,0 0 0 .
D a te D e c. 15 1909. In te re st an n u a l.
M a tu rity
ther details are at hand relative to the offering on N ov. 3 of D eDc.e n14
1914.
B on ds are e x e m p t fro m taxes. C ertified c h e c k fo r $250,
the $2,000 5% coupon sidewalk bonds mentioned in V. 89, p. p a y a b le to th e “ C ity o f J a c k s o n ,” Is re q u ire d . P u rch a ser to p a y a ocru ed
1099. Proposals will be received until 7 p. in. on that day Interest.
by T. D. Karnes, City Clerk.
Joplin, Jasper County, Mo.— Bond Offering.— Proposals
will be received until 3 p. in. Nov. 6 by Julius A. Becker,
D e n o m in a tio n $ 1 ,0 0 0 .
D ate N o v . 1 1909. In terest on M ay 1 In Fair­
bu ry.
M a tu rity $1,000 In each o f the years 1922 and 1923.
B on d s are
City Treasurer, for the $50,000 5% coupon public sewer
e x e m p t fro m all taxi s. C ertified ch eck fo r 5 % o f b id , p a y a b le to the C ity
bonds voted (V . 89, p. 1106) on Oct. 5.
C lerk, Is req u ired .
B on ded d e b t, Inclu din g this Issue, $1 4 ,0 0 0 . N o flo a t­
ing d e b t .

A ssessed v a lu a tio n 1909. $33 0,00 0.

Fairfield, Conn.— Bond Sale.— This town has sold $75,000
4% 20-year bonds. Denomination $1,000. Interest Mch. 1
and Sept. 1.
Fillmoro Union High School District (P. O. Fillmore),
Ventura County, Cal.— Bond Sale.— On Oct. 19 an issue of
$40,000 bonds was awarded to C. E. Woodside & Co. of Los
Angeles, it is stated, at 105.40.
Fitchburg, Mass.— Temporary Loan.— Reports state that
a loan of $2.>,000 due in four months has been negotiated
with Loring, Tolman & Tupper of Boston at 4.73% discount.
Flushing, Belmont County, Ohio.— Bond S a le — The New
First National Bank of Columbus purchased $1,600 5%
15-22-year (serial) turnpike-construction bonds on Oct. 22
for $1,079— the price thus being 104.937.
D en om in a tion $200.

D ate S ep t. 1 1909.

In terest sem i-an n u al.

Fort Worth, T e x — Bond Sale.— The $150,000 20-40-ycar
(optional) sewer-system-extension bonds voted on Oct. 12
(V . 89, p. 1099) were bought on Oct. 25 by William II.
Eddleman, President of the International Fire Insurance Co.
Fulton County (P. 0 . Johnstown), N. Y .— Bond Sale.—
Isaac W. Sherrill of Poughkeepsie purchased at par on Oct. 11
the $70,000 4% coupon funding highway-improvement
bonds described in V. 89, p. 871. Maturity $10,000 yearly
•n Feb. 10 from 1920 to 1926 inclusive.
Garza Indepandent School District (P. O. Garza), Denton
County, Tex.— Bond 8»U .— The $4,000 5% 10-40-year




S e ctio n 6 35 0-4 , R e v is e d Statu tes o f 1899.
D e n o m in a tion
$.>()().
D ate N o v . 1 1909.
In te re st sem i-an n u ally In J o p lin .
M a tu rity 20
y e a rs , s u b je c t to call a fte r 5 years. C ertllied ch e ck fo r $500, p a y a b le to
the " C it y o f J o p lin ,” is re q u ire d .

Kenosha, Kenosha County, W is.— Bond Offering.— Fur­
ther details are at hand relative to the offering on N ov. 1
of the $50,000 4% coupon school bonds mentioned in V. S9,
p. 1100. Proposals will be received until 12 in. on that day
by Geo. W. Harrington, City Clerk.
D e n o m in a tio n $t ,000.
D ate N o v . 1 1909.
In te re st p a y a b le a t th e C ity
T re a su re r’s o ffic e at the First N ation a l Bank o f M ilw aukee and a t th e First
N ation a l B ank o f K e n o sh a .
M a tu rity p art y e a rly fro m 1910 to 1919
In clu sive.
,

Lincoln County (P. O. Chandler), Okla.— Bond Offering.
— Further details are at hand relative to the offering on
Nov. 8 of the $150,000 5% coupon Road-Improvement
District No. 1 bonds mentioned in V. 89, p. 1100. Proposals
will be received on that day until 1 p. m. by Geo. F. Clark,
Chairman of County Commissioners.
A u th o rity S ection s 52 to 6 4 , C h apter 3 2 , Acts o f 1909.
In te re st in J a n .
an d .July a t the S ta te Fiscal A g e n cy (N ation al Bank o f C om m erce) In N ew
Y o r k C ity .
M a tu rity 25 years. C ertified ch eck fo r 5 % o f b id , p a y a b le t*
L . C. E llio tt, C o u n ty T rea*u rer, Is requ ired .

Ludlow, Hampden County, Mass.— Bond Sale.— T h «
$40,000 4% coupon school-house bonds described in V. 89,
p. 1101, were awarded on Oct. 27 to N. W. Harris & Co. of
Boston at 102.635 and accrued interest. Maturity $2,000
yearly on Jan. 1 from 1910 to 1929 inclusive. Following
are the bids:
N . W . H arris eV C o ., B o s t o n . 1 0 2 .6 3 5 I R . L . D a y & C o ., B o s t o n ____ 102.29
B lo d g e t, M erritt & C o ., B o s . 102.40 M errill, O ldh am & C o ., BosK stah rook & C o ., B u tto n ____ 192.21 | ton ____________ _____________192.149

McKinley, Oscoda County, Minn.— Price Paid for Bonds.
— The price paid for the $5,000 6% electric-light-plant bonds
awarded on Oct. 5 to F . B. Myers of Biwabik (V . 89, p. 1101)
was par. There were no other bidders.
McKinley School District No. 18 (P. O. McKinley), St.
Louis County, Minn.— Bond Sale.— George A. Whitman of
Eveleth purchased on Sept. 13 $20,000 5% building bonds
at 100.405.
D en om in a tion $ 1 ,0 0 0 .
J a n u a ry anil J u ly .

D a te S e p t. 13 190 9.

In te re s t se m i-a n n u a lly In

Madison County (P. O. Jackson), Tenn.— Bonds Author­
ized.— This county has authorized the issuance of $100,000
bonds. They were authorized with the expectation that the
State Board of Education will choose a site in this county
for the erection of the State Normal College.
Mankato, Blue Earth County, Minn.— Bond Offering.—
Further details are at hand relative to the offering on Nov. 1
of the $40,000 4J^% 20-year refunding water bonds men­
tioned in V. 89, p. 1101. Proposals will be received on that
day until 7:30 p. m. by A. H. Scherer, City Recorder.
A u th o rity S e c tio n 3 , S u b -C h a p te r V . o f C h ap ter 47, Special L a w s o f 1891.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te D e c. 1 1909.
In terest se m i-a n n u a lly In
C h ic a g o .
M a tu r ity D e c. 1 1929. Certified c h e ck (o r cash) f o r $1 ,5 0 0 ,
p a y a b le t o th e C it y R e c o r d e r , Is re q u ire d .

Marion, Marion County, Ohio.— Bonds Not Sold.— No
bids were received on Oct. 26 for the $6,000 4% refunding
bonds offered on that day by the Sinking Fund Trustees.
For description of bonds see V. 89, p. 1101.
Medford, Jackson County, Ore.— Bond Sale.— The $54,250
6% 10-year improvement bonds offered on Sept. 30 and
described in V. 89, p. 797, have been disposed of as follows:
$49,750 to Philip Grossmayer of Portland, $4,000 to Emil
de Reboam of Medford and $500 to F. W . Waters of Salem.
The bonds are dated Oct. 1 1909. Interest semi-annual.
Middletown, Middlesex County, Conn.— Bond Sale.— The
$340,000 4% 20-year coupon Air Line refunding bonds de­
scribed in V. 89, p. 1101, were sold on Oct. 26 to Estabrook
& Co. of Boston at par and accrued interest. The only other
offer received was one of par and accrued interest for $20,000
bonds, submitted by Frank C. Smith of Middletown.
Milton, Norfolk County, Mass.— Bond Sale.— II. C.
Wainwright & Co. of Boston purchased on Oct. 25 the
$111,000 2>y2% school bonds described in V . 89, p. 1101,
at 100.56 and accrued interest. Maturity on Nov. 1 as
follows: $6,000 yearly from 1910 to 1920 inclusive and $5,000
yearly from 1921 to 1929 inclusive.
Montgomery, Ala.— Bond Offering.— Proposals will be re­
ceived until 12 m. N ov. 15 by Robert Tait, City Treasurer,
for $50,000 5% paving bonds.
D e n o m in a tio n $ 50 0. D a te N o v . 1 190 9. In te r e s t sem i-an n u al. M a­
tu r ity 10 yea rs, s u b je c t t o call a t a n y In te re s t-p a y in g p e rio d In am o u n ts
n o t t o e x c e e d $ 5 ,0 0 0 In a n y o n e y e a r . C ertified c h e c k l o r $1,000 Is re­
q u ir e d .
B id m u s t b e u n c o n d itio n a l. T h e fa v o r a b le o p in io n o f S to r e y ,
T h o rn d ik e , P a lm e r & T h a y e r o f B o s to n as t o th e le g a lity o f th e b o n d s w ill
b e fu rn ish ed to th e su ccessfu l b id d e r .

Official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Montgomery County (P. O. Dayton), Ohio.— Bond Offer­
ing.— Proposals will be received until 10 a. m. Nov. 1 by
T . J. Kaufmann, County Auditor, for $1,600 4J^% LoyMilliken ditch bonds.
A u th o rity S e c tio n 4 4 7 9 , R e v is e d S ta tu te s . D e n o m in a tio n $400.
D ate
N o v . 1 1909. In teres t sem i-a n n u a lly a t th e C o u n ty T re a su re r’s o ffic e .
M a tu rity $100 y e a r ly o n N o v . 1 fro m 1910 t o 1913 In clu sive. Certified
ch e ck on a n a tion a l ban k or tru st c o m p a n y fo r $50, p a y a b le t o th e C o u n ty
A u d ito r , Is req u ired .
B ids m u st b e u n c o n d itio n a l.
B o n d s w ill be d e liv ­
ered to pu rch aser a t C o u n ty T re a s u re r’s o ffic e on N o v . 1 1909.

Moorcroft School District No. 16 (P. O. Moorcroft), Crook
County), NJyo.— Bond O ffering—-Proposals will be received
until 1 p. m. to-day (Oct. 30) by Mrs. C. E. Kackly, Dis­
trict Clerk, for $4,900 coupon school-building bonds at not
exceeding 6% interest.
A u th o r it y A r t ic le 3 , C h ap ter 3 , D iv is io n 1, “ E d u ca tio n a l In s titu tio n s ,”
R e v is e d S ta tu tes o f 1899. D e n o m in a tio n , 9 bo n d s o f $500 ea ch an d o n e
b o n d o f $400.
D a te N o v . 1 1909.
In te re st J a n . 1 and J u ly 1 a t the
C o u n ty T rea su rer’ s o ffic e o r a t th e W y o m in g T ru st & S avin gs B ank In
C h eyenne.
M a tu rity p a rt y e a r ly fro m Jan . 1 1912 to 1921 In clu sive. N o
d e b t a t p resen t. A ssessed v a lu a tio n 1909, $ 4 3 6,48 0 47.

Moore County (P . O. Carthage), No. Car.— Bond Offering.
— Proposals will be received until 2 p. m. Nov. 1 by the
Ghairman of the Board of Commissioners for $20,000 5%
coupon (with privilege of registration) bridge-building and
funding bonds.
A u th o r it y C h a p ter 175, S ession L a w s 1909. D e n o m in a tio n $1,000.
D a te J u ly 1 1909. In te r e s t a n n u a lly a t the C o u n ty T re a su re r’s o ffic e .
M a tu rity $ 1 ,000 y e a r ly o n Jan . 1 fro m 1914 to 1933 In clu sive. C ertified
c h e c k fo r $800 is re q u ire d .
O fficial a d v e rtis e m e n t states th a t no litiga tio n
c o n ce rn in g th e Issue Is c o n te m p la te d a n d th e c o u n t y has n e v e r co n te s te d
a n y p rev iou s Issue o f b o n d s b u t has p a id e a ch Issue p r o m p t ly a t m a tu r ity .
B on d ed d e b t , In clu din g this Issue, $ 2 5 ,0 0 0 . F lo a tin g d e b t , $20 ,3 0 0 .
A ssessed v a lu a tio n 1909, $ 4 ,5 4 3 ,9 2 7 .

Morrisville, Lamoille County, V t.— Bond Sale.— This
village has sold $72,000 4% 20-year bonds.
Morrow County (P . O. Mt. Gilead), Ohio.— Bond Sale.—
Issues of 4
road bonds, amounting to $12,000, offered
on Oct. 16, have been sold, it is stated, to Seasongood &
Mayer of Cincinnati for $12,157— the price thus being
101.308.
Mt. Oliver, Allegheny County, Pa.— Bond Sale.— It is re­
ported that the $75,000 4% coupon sewer bonds offered but
not sold on Oct. 1$ (V . 89, p. 1101) have been awarded to
the Washington Investment Co. of Pittsburgh.
Navarro County Common School District, Tex.— Bond
Sale.— The $16,000 5% 15-30-year (optional) school-house
bonds registered by the State Comptroller on Aug. 18




(V . 89, p. 552) have been sold to the Texas Trust Co. of
Houston for $ 16,001— the price thus being 100.006.
New Hampshire.— Bond Offering.— Proposals will be re­
ceived until 12 m. Nov. 1 by Solan A. Carter, State Treas­
urer, at his office in Concord, for $250,000 3% 4-6-year
(serial) highway bonds.

D e n o m in a tio n $500 a n d $ 1 ,0 0 0 . D a te Jan .
an n u a l.
B o n d s are e x e m p t fro m ta x e s .

1 191 0.

In te re s t s e m i­

New York City.— Revenue Bond Sale.— Since Oct. 1 and
up to and including Oct. 27 this city had issued $17,480,790
1- year revenue bonds. Of this amount $16,280,000 carries
4% interest and the balance ($1,200,000) 3 % % . The city
also sold during the same period $475,000 4% special
revenue bonds. These securities were placed partly in this
country and abroad.
Among the purchasers in this city
were Goldman, Sachs & Co., Ladenburg, Thalmann & Co.
and Heidelbach, Ickelheimer & Co.
Nobles County (P. O. Worthington), Minn.— Bond Sale.—
The Minnesota Loan & Trust Co. of Minneapolis purchased
on Oct. 9 $5,000 4 y2% 10-year refunding school bonds at
par and accrued interest. Denomination $1,000. Date
July 1 1909. Interest semi-annual.
Oklahoma City, Okla.— Bond Sale.— The $185,000 5%
25-year storm-sewer bonds mentioned in Y . 89, p. 950, were
sold on Oct. 26 to John Nuvcen & Co. of Chicago for $194,625— the price thus being 105.202. Denomination $1,000.
Date Oct. 1 1909. Interest semi-annual y at the National
Bank of Commerce.
Otsego (P. O. Cooperstown), Otsego County, N. Y .—
Bond Offering.— A. H . Clark, Railroad Commissioner, will
sell at public auction an issue of $14,000 coupon refunding
bonds. Interest payable in Cooperstown. Date of sale and
details of bonds had not been decided up to Oct. 23.
Pacific County (P. O. South Bend), Wash.— Bond Offering.
— Proposals will be received until Dec. 6 for the $150,000
2- 10-year (optional) bonds authorized b y a vote of 769 “ for”
to 206 “ against” at the election held Aug. 24. Y . 89, p. 614.
Interest not to exceed 6% .
Perris Union High School District, Cal.— Bond Election.—
According to reports, a $25,000 bond election will be held
N ov. 6.
Perth Amboy, N. J.— Bond Sale.— John D. Everitt & Co.
of New York City purchased $125,000 4J^% 15-year streetimprovement bonds on Oct. 22 at 102.07— a basis of about
4.311%. Date Oct. 1 1909. Interest semi-annual. The
other bidders were:
I I . L . C ra w fo rd & C o .. N . Y . 101.393 [ W . N . C oler & C o ., N . Y ------ 100.75
R . M . G ra n t & C o ., N . Y ____ 100.70 ] A d a m s & C o ., N ew Y o r k ____ 100.625

Pierz (Village), Morrison County, Minn.— Bonds D e­
feated.— The voters of this village on Oct. 7 defeated a propo­
sition to issue $5,500 railway-aid bonds.
Pittsburgh, Pa.— Bond Sale.— On Oct. 29 the $384,100
4 U % filtration-system-extension bonds were awarded to the
Dollar Savings Bank of Pittsburgh for $410,622 10. (106.904)
and the four issues of 4% bonds, aggregating $641,500, were
sold to II. S. Stewart for $650,964 79— the price thus being
101.475. See V. 89, p. 1102, for a description of these bonds.
Portage, Columbia County, W is.— Bids Rejected— Bond
Offering.— All bids received on Oct. 25 for the $30,000 4 )^ %
coupon sewer bonds described in V. 89, p. 1026, were rejected.
Proposals are again asked for and will be received this time
until 8 p. m. N ov. 8.
Portsmouth, Scioto County, Ohio.— Litigation.— W e are
advised that suit will be brought to test the legality of the
$300,000 4% 6-45-year (serial) coupon water-works-extension
bonds mentioned in V. 89, p. 615.
Portsmouth School District (P. O. Portsmouth), Scioto
County, Ohio.— Bond Election.— An election will be held
N ov. 2 to vote upon a proposition to issue $150,000 highschool-improvement bonds.
Rensselaer, Rensselaer County, N. Y .— Bond Offering.—
Proposals will be received until 10 a. m. Nov. 9 by J. W .
Adams, City Treasurer, for $3,180 78 4>^% registered sewer
(city’s portion) bonds.
^
D e n o m in a tio n 5 b o n d s o f $500 an d o n e o f $680 78. D a te N o v . 15 1909.
In te re s t sem i-an n u al.
M atu rity $680 78 o n N o v . l o 1910 an d $o00 y e a rly
fro m 1911 to 1915 In clu sive. C ertified c h e c k fo r 2 % o f b o n d s b id fo r , p a y ­
a b le to th e C ity T re a su re r, Is re q u ire d .

Rochester, N. Y .— Note Sale.— A. G. Moore of Rochester
was awarded $100,000 8-months local-improvement notes on
Oct. 28 at 100.015 for 5s.
Rye (P. O. Port Chester), N. Y .— Bond Sale.— On Oct. 27
$40,000 gold registered town of Rye park bonds were disposed
of to the Port Chester Savings Bank of Port Chester as 4s.
There were no other bidders.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate N o v . 1 1909.
In terest F e b . 15 an d A u g.
15 at th e F irst N a tio n a l B a n k o f P o r t C h ester in N e w Y o r k e x c h a n g e .
M a tu rity $ 1 ,000 y e a r ly o n F e b . 15 fro m 1019 t o 1958 In clu sive.

St. Clairsville, Belmont County, Ohio.— Bond Sale.— It is
reported that the five issues of 4y2% coupon street-paving
assessment bonds described in V. 89, p. 1026, aggregating
$18,361 43, have been awarded to A. L. Bumgardncr of
St. Clairsville.
St. Francis Drainage District (P. O. Piggott), Clay and
Greene Counties, Ark.— Bonds Authorized.— At a meeting of
the Board of Directors held Oct. 25 the issuance of $220,000
6% 20-40-year ditch-construction bonds was authorized.
St. Francis Levee District, Clay County, Ark.— Rid With­
' drawn.— We are informed that Weil, Roth & Co. of Cincin-

D e n o m in a tio n $50 0.
D a te M ay 1 1909.
In te re st se m i-an n u al.
M a­
nati have withdrawn their bid on the $325,000 5% coupon
t u r it y $500 each s ix m o n th s fro m S e p t. 1 1910 t o M arch 1 1914. C ertified
bonds mentioned in V. 89, p. 1097.
c h e c k fo r 1 % o f b o n d s bid fo r , p a y a b le t o th e V illa ge T reasu rer, Is req u ired .
Salem, Marion County, Ore.— Bonds Withdrawn from the P u rc h a se r t o p a y a c c r u e d Interest.
Spiro, Le Flore County, Okla.— Bond Sale.— T h e $ 5 0 , 0 0 0
Market.— Referring to the $65,000 4% refunding bonds
offered but not sold on Sept. 27 (V . 89, p. 1026), the City 6 % 2 5 - y e a r c o u p o n w a t e r a n d li g h t b o n d s , b id s f o r w h i c h
Auditor writes us under date of Oct. 18 that “ owing to a mis- |w e r e r e j e c t e d o n A u g . 2 6 ( V . 8 9 , p . 6 1 6 ) h a v e b e e n s o l d to
understanding of the judges in some of the precincts at the S p e e r & D o w o f F o r t S m i t h , A r k .
election held recently, it was thought, in the light of question
Sturgis, St. Joseph County, Mich.— Bonds Voted.— A n
being raised as to their legality, that the matter should be e l e c t i o n h e l d h e r e r e c e n t l y , i t is s t a t e d , r e s u l t e d in f a v o r o f a
deferred until the regular election in December, at which p r o p o s i t i o n t o is s u e $ 1 7 5 , 0 0 0 b o n d s t o p u r c h a s e a n d d e v e l o p
time the question will be voted upon again as to the matter w a t e r p o w e r .
of refunding $65,000 municipal bonds.” In the meantime,
Sumner, Tallahatchie County, Miss.— Bond Offering.—
to protect the city’s credit, the bonds have been taken up; P r o p o s a l s w ill b e r e c e i v e d u n t il N o v . 1 b y A l b e r t L. W h i t t e n ,
when the charter shall be amended in December, a new M a y o r , f o r $ 6 , 0 0 0 6 % c o u p o n C a s s i d y B a y o u B r i d g e b o n d s .
issue for a like amount will be put out and sold to the
A u th o r it y S e ctio n s 341 5-1 6 a n d 341 9 -2 0 , C od e o f 1906; also v o t e o f 38
“ f o r " t o 2 a ga in st a t e le ctio n held A u g . 16 1909.
D e n o m in a tio n $50 0.
highest bidder.
D a te O ct. 1 1909.
In te re st a n n u a lly a t th e B a n k o f C o m m e rce & T ru s t
San Anselmo, Marin County, Cal.— Bonds Not Sold.— No C o . In M em ph is. M a tu rity O c t . 1 1929, s u b je c t to call a fte r O ct. 1 191 9.
d s are e x e m p t fro m ta x e s In M ississip pi. C ertified ch e ck fo r $25 0,
bids were received, it is reported, for an issue of $43,500 pBaon
y a b le t o th e T o w n T reasu rer, Is r e q u ire d . P u rch a ser t o p a y a c c r u e d
bonds offered on Oct. 15.
in te re s t an d furnish bla n k b o n d s.
O fficia l n o tice states th a t th ere is n o
litig a tio n p e n d in g o r th re a te n e d c o n ce rn in g th e v a lid ity o f these b o n d s, th e
San Francisco, Cal.— Bond Offering Postponed.— The offer­ b o u n d a r ie s o f the m u n ic ip a lity o r titles o f th e o fficia ls t o their res p e c tiv e
ffic e s .
T h e to w n has n o d e b t a t p re se n t. T o t a l assessed v a lu a tion
ing of the $360,000 4 )^ % water-supply bonds which was to o1908,
$ 3 5 3 ,2 2 7 .
have taken place Oct. 25 (V . 89, p. 951) was postponed. We
Suwanee County (P. O. Live Oak), Fla.— Warrant Sales.—
are informed that they will again be placed on the market
within the next five or six weeks. The bonds will be dated O n O c t . 11 J . B . B a r t o n , P r e s i d e n t o f t h e C i t i z e n s ’ B a n k o f
Jan. 1 1909 and mature from Jan. 1 1910 to Jan. 1 1915 L i v e O a k , w a s a w a r d e d $ 1 2 , 0 0 0 6 % c o u p o n s c h o o l f u n d i n g
w a rr a n ts.
D a t e O c t . 11 1 9 0 9 .
I n t e r e s t J a n . 1 a n d J u ly 1 .
inclusive.
T h e C itiz e n s ’ B a n k o f L iv e O a k a ls o p u r c h a s e d $ 1 7 ,0 0 0
San Rafael, Marin County, Cal.— Bond Offering.— Local 6 % w a r r a n t s .
papers state that bids will bo received until N ov. 8 for
D ate O ct. 18 1909.
In te re st J a n . a n d J u ly .
M a tu rity $ 1 ,000 on Ja n . 1
$15,000 sewer bonds.
In e a ch o f the years 1910, 1911 an d 1912: $5,000 o n J u ly 1 In each of th e
Schenectady, N. Y .— Certificate Offering.— Proposals will years 1910 a n d 1911 an d $4,0 0 0 on J u ly 1 1912.
Titus County Common School District No. 22, Tex.—
be received until 11 a. m. N ov. 6 by O. 8. Luffman, City
Comptroller, for $100,000 certificates of indebtedness issued Bonds Registered.— T h e S t a t e C o m p t r o l l e r r e g i s t e r e d $ 8 0 0
5 % b on d s on O c t. 19.
M a t u r i t y 2 0 y e a r s , s u b j e c t t o c a ll
in anticipation of taxes.
A u th o rity S ection 78, C h apter 55, L a w s o f 1900.
D a te N o v . 8 1909.
In terest ra te t o he nam ed In b h l.
M atu rity F e b . 25 1910. C erlllied ch eck
on a b a n k or tru st c o m p a n y fo r 1 % o f certificates bk l fo r , p a y a b le t o th e
C ity C o m p troller, Is re q u ir e d .
P u rch a ser to p a y a ccru e d Interest.

Sherwood, Defiance County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m. Nov. 6 by C. W . Miller,
Village Clerk, for the $4,000 6% electric-light-system bonds
that were offered (V. 89, p. 366) but not sold on Aug. 10.

a fte r

10

years.

T o m a h , Monroe County, W i s . — Bond Sale. — T h e $ 7 , 4 6 7
5 % c o u p o n i m p r o v e m e n t b o n d s d e s c r i b e d in V . 8 9 , p . 5 5 3 ,
w e r e s o l d d u r i n g A u g u s t t o lo c a l i n v e s t o r s a t p a r . M a t u r i t y
p a r t y e a r ly on A u g . 1 fr o m 1 9 1 1 to 1 9 1 4 in c lu s iv e .

Trenton School District (P. O. Trenton), Wayne County,
Mich.— Bond Sale.— A n is s u e o f $ 7 , 0 0 0 4 ) ^ % r e f u n d i n g

NEW LOANS.

N EW LOANS.

NEW LOANS.

$ 200,000
City of Wilmington, Delaware

$ 6 7 ,0 0 0
CAMDEN COUNTY, N. J.

$ 20,000
Village of White Plains, N. Y.

WATER WORKS BONDS

IMPROVEMENT BONDS

MACADAMIZING BONDS

T h e B o a r d 'o f C h osen F reeh old ers o f th e C o u n ty
o f C a m d en , N ew Je rse y , w ill r e ce iv e sealed p r o ­
posals o n W E D N E S D A Y , N O V E M B E R 1 0 T H ,
1909, a t 11 A . M . a t th e F re e h o ld e rs’ r o o m In
th e C a m d en C o u n ty C ou rt H o u s e , fo r the purchase
o f all o r p a rt o f $35 ,0 0 0 o f b o n d s fo r C am den
an d H a d d o n fle ld T u rn p ik e I m p r o v e m e n t an d
$32 ,000 o f b o n d s fo r B r o w n ’s C orn er, N ich o lso n ,
an d C o ffin ’s C orner a n d G lb b sb o ro R o a d s .
B on d s
to be o f th e d e n o m in a tio n o f $ 1,000 e a ch , to bear
Interest fro m N o v e m b e r 1, 1909, a t the rate o f
4 H p er c e n t p e r an n u m , p a y a b le se m i-an n u ally
o n th e llrst d a y s o f N o v e m b e r an d M ay In each
an d e v e r y y e a r . Interest p a y a b le a t th e o ffic e o f
U n ite d S tates M ortg age & T ru st C o m p a n y , N ew
Y o r k , an d shall be re d e e m a b le N o v e m b e r 1st,
1934, a t th e C o u n ty C o lle c to r ’s O ffic e , C a m d en ,
N ew J ersey. S aid b o n d s to be registered o r
c o TiJ?o n . <?ri I301'1 a t th e o p t io n o f the p u rchaser.
r h e b id d e r m u st en clo se w ith ea ch p rop osal a
cc rtlllc d ch e ck o n a n ation a l h an k , p a y a b le to
th e o r d e r o f th e C o u n ty C o lle c to r o f C am den
C o u n ty , N ew Je rse y , in th e su m o f a t least 5
p er c e n t o f th e a m o u n t b id , as a gu a ra n ty to
c o m p ly w ith the prop osals it a w a rd e d the b o n d s.
A ll bids to be m ade w ith th e tin derstanding th a t
accru e d Interest o n th e bid to th e d a te o f d e liv e ry
o f the b o n d shall b o p aid b y th e b u y e r , an d
s e ttle m e n t to be m a d e a t th e C o u n ty C o lle cto r’s
O ffic e , C a m d en , N ew Je rse y . T h e B o a rd reserves
the right to r e je c t a n y o r all b id s , proposals to be
ad d ressed to the D ir e c to r o f th e B oa rd o f Chosen
F reeh old ers, C o u n ty C o lle c to r ’s O ffic e , C ou rt
H ou se, C a m d en , N ew J ersey.
A L FR E D L. SA YE R S,
D ire cto r.
G E O R G E J. B E R G E N ,
S o licito r,
428 M arket S tr e e t, C a m d e n , N . J .
D a te d O c t o b e r 2 5 th , 1900.

P U B L I C N O T IC E IS H E R E B Y G I V E N th a t
sealed pro p o sa ls w ill be re ce iv e d b y th e B oa rd o f
T ru stees o f th e V illa ge o f W h ite P lain s, N . Y . , on
T H U R S D A Y , N O V E M B E R 1 1 T H , 1909, A T
8 P . M ., a t th e C o rp o ra tio n R o o m s , G ra n d S treet,
In said V illa g e , fo r th e fo llo w in g b o n d s, Issued
pu rsu a n t t o th e p ro v is io n s o f C h ap ter 80 o f th e
L a w s o f 1906.
T w e n ty m a ca d a m iz in g b o n d s o f th e d e n o m in a ­
tio n o f O ne T h o u sa n d D ollars e a c h , t o bea r d a te
O cto b e r 1st, 1909, a n d t o b e c o m e d u e a n d p a y ­
a b le as fo llo w s :
F iv e T h o u sa n d D ollars th e re o f O c to b e r 1 s t,1 9 3 5 ,
F iv e T h o u sa n d D ollars th e re o f O c to b e r 1 s t,1 9 3 6 .
F iv e T h o u sa n d D ollars th e re o f O cto b e r 1 st,1 9 3 7 .
F iv e T h o u s a n d D ollars th e re o f O c to b e r 1 s t , 193 8 .
In te re st a t fo u r a n d o n e -h a lf p er c e n t, p a y a b le
se m i-a n n u a lly o n th e llrst d a y s o f A p ril a n d O c t o ­
b e r In ea ch year.
N o p rop osals w ill be re ce iv e d fo r less th an p a r.
All pro p o sa ls m ust be a c c o m p a n ie d b y a certified
c h e ck u p o n a S ta te o r N a tio n a l B a n k o r T ru st
C o m p a n y fo r live p e r c e n t o f su ch p r op osa ls.
C h ecks o f u n su ccessfu l b id d e rs w ill be retu rn ed
t o th e m .
T h e B o a rd o f T ru stees reserves th e rig h t t o r e ­
je c t a n y an d all p r o p o sa ls.
B y o r d e r o f th e B o a rd o f T ru ste e s.
D a te d W h ite P la in s, N . Y . , O c to b e r 2 6 th , 190 9.
F R E D E R IC S. B A R N U M ,
P re sid en t.
E A R L E P . H IT E ,
Clerk.

S ealed bids w ill b e re ce iv e d b y the F in an ce C o m ­
m itte e o f T h e C ou ncil o f W ilm in g to n , D elaw are,
until 12 o 'c l o c k M . on N o ve m b e r 11 th , 1909, fo r
th e p u rch ase o f $200,000 b o n d s o f T h e M a y o r
a n d C ou n cil o f W ilm in g to n , to be Issued fo r the
p u rp oses an d u n d er th e pro visio n s o f C h a p ter 179,
V o lu m e 24, L a w s o f D ela w a re . Said b o n d s are o f
th e d e n o m in a tio n o f O ne T h o u sa n d D ollars e a ch
a n d w ill bea r Interest a t 4 p e r c e n t p e r an n u m ,
p a y a b le s em i-an n u ally o n th e llrst d a y s o f M ay a n d
N ovem ber.
B on ds m atu re w ith o u t o p t io n o f
p rior re d e m p tio n as fo llo w s :
F o r t y -F iv e T h ou sa n d d o lla rs ($45,000) N o ­
v e m b e r 1st, 1923,
S ix t y T h ou sa n d d olla rs ($60,000) N o v e m b e r
1st, 1024,
S e v e n ty T h ou sa n d d olla rs ($70,000) N o v e m ­
b e r 1st, 1925,
T w e n t y -F iv e T h ou sa n d d olla rs ($25,000) N o ­
v e m b e r 1 s t, 1926.
A ll bids m ust be en closed In sealed e n v e lo p e s
an d b e en d orsed " B id s fo r th e p urchase o f W il­
m in g ton W a te r W ork s B o n d s ,'’ and deliv e re d
to th e u n d ersign ed a t the o ffic e o f th e Clerk o f
C ou n cil, W ilm in g ton , D ela w a re , on o r b e fo re
tw e lv e o ’ c lo c k n oon N o v e m b e r l l t l i , 1909. T h e
rig h t Is reserved to r e je c t a n y a n d all b id s .
E a ch
b id m u st be o n the fo rm fu rn ish ed b y th e c ity
an d m u st be a c c o m p a n ie d b y a certified c h e ck o n
s om e b an k o r trust c o m p o n y fo r tw o p e r c e n t o f
th e a m o u n t o f the par v a lu e o f th e b o n d s b id fo r ,
w h ich a m o u n t w ill be a c c e p te d as p a rt o f th e
p u rch ase p rice If the b id d e r Is su cce ssfu l, an d the
sam e to be fo rfe ite d If th e b id d e r falls to a c c e p t
a n d p a y fo r b on d s a w a rd e d . T h e su ccessfu l
b id d e r m u st p a y fo r th e b o n d s N o v e m b e r 18,
1909, b e fo r e tw elve o 'c l o c k n o o n , In the C ity
trea s u rer's o ffic e a t W ilm in g to n , D elaw are, at
w h ich tim e said bon d s will be r e a d y f o r d e liv e ry .
JA M E S K A N E ,
R I C H A R D C. M C M U L L E N ,
S A M U E L H . B E N S O N J R .,
M n a n c c C o m m itte e o f T h e C ou ncil o f T h e
M a y o r an d C ou n cil o f W ilm in g to n .

B L A C K S T A F F & CO.
IN V E S T M E N T S
1332 Walnut Street
PHILADELPHIA

LIST OF SPECIALTIES ON REQUEST
P. J. G00DHART & CO.,
B an k ers
OT B R O A D W A Y

-

-

NEW YORK,

T e le p h o n e 2 24 0 R e c t o r

3 !i 6 W a ln u t Ht., C incinn ati

Bank and Trust Co. Stocks



HUNT, SALTONSTALL & CO.,
D lem beri N ew Y o rk S tock E xch an ge

T. W. STEPHENS

& GO.

Investment Bonds

Investment Securities
60 S T A T E S T R E E T

2 W A LL STREET, NEW YORK.

BO STON

E S T A B L ISH E D 1885

H. C. Speer & Sons Co.
First Nat. Bank Bldg., Chicago
CITY, C O U N T Y
AND SCHOOL

B O M n Q

FORREST & CO.
BANKERS

Municipal and Seasoned
Corporation Bonds
FREE OF TAX
421 CHESTNUT ST „
PHILADELPHIA. PA.

school bonds was recently awarded to W . E. Moss & Co.
of Detroit for $7,027, the price thus being 100.385.
Tunica, Tunica County, Miss.— B o n d s P r o p o s e d . — This
town proposes to issue 20-year bonds, it is stated, to install a
system of water-works.
Uehling, Dodge County, Neb.— B o n d S a le . — The $7,000
5% 5-20-year (optional) water-works bonds offered on Sept.
20 (V . 89, p. 017) were disposed of as 4J^s on Oct. 1 to the
State of Nebraska. There were no other bidders. Denomi­
nation $500. Date Sept. 1 1909. Interest annual.
Union County (P. O. Elizabeth), N. J .— B o n d S a le .— John
D. Everitt & Co. of New York City recently purchased
$70,000 4 % 30-year road-improvement bonds at 101.005—
a basis of about 3.943%. The securities are in denomina­
tions of $1,000 and are dated Oct. 11 1909.
These securities take the place of the $100,000 4% bonds
disposed of on July 24. See V. 89, p. 305. The amount of
the issue was reduced because the county found it could not
legally sell that many bonds.

$20 ,000
$ 80 ,000
$18 ,000
Bonds.
Bonds .
Bonds.
N . W . H a ls e y & C o ., N ew Y o r k _________ $20,628 00 $82 ,512 00 $18 ,596 00
18,531 00
81,6 2 5 00
F o ste r & A d a m s ___________________________ 20,601 00
18,498 00
82,216 00
L a w re n ce B a rn u m & C o ., N ew Y o r k — 20,554 00
18,523 80
82,272
W . N . C oler & C o ., N ew Y o r k . .................
20,528
20 80
18,466 00
82,072
R . L . D ay & C o ., N ew Y o r k ____________ 20,518
00 00
18,415 80
8 1 ,736
H . L . C ra w ford & C o ., N ew Y o r k ------------ 20,434
00 00
18,408 60
8 1 ,7 3 6 ,0 0
A . B . L e a ch & C o ., N ew Y o r k _________ 2 0 ,4 3 4 ,0 0
18,431 00
8 1 ,719
First N ation a l B a n k , C le v e la n d ---------------- 20,427
00 00
U tic a C e m etery A s s o c ia tio n ---------------------- 20,418
00
18,385 20
81,512
O 'C o n n o r & K a h le r, N ew Y o r k ---------------- 20,378
00 00
8 1 ,429 60
18,276 66
N . W . H arris & C o ., N ew Y o r k . . . .......... 2 0 ,357 40
8 1 ,866
18,367 92
P a rk in so n & B u rr, B o s t o n ------------------------ 20,344
40 40
81,364
18,326 00
F a rso n , S on & C o ., N ew Y o r k ------------------ 20,341
00 00
6 0 00
18,220 00
J . J . H a r t, A lb a n y -----------------------------2 0 ,330 8 1 ,300
H ou se o f G o o d S h e p h e rd , U tic a --------------- ------------------------- ---------18,488 70
A b id w as also re ce iv e d fro m B lo d g e t, M erritt & C o . o f B o s to n .
W e are
J in fo r m e d , h o w e v e r, th a t it w as in fo r m a l, an d w as th e re fo re r e je c te d .

Upper Sandusky, Wyandot County, Ohio.— B o n d S a le .—
On Oct. 20 the $5,000 5% 8-year North Fifth Street seweroonstruction bonds described in V. 89, p. 952, were awarded
to the First National Bank of Upper Sandusky at 106 and
accrued interest— a basis of about 4.113%. A list of the
bids received follows:

Warren County (P. O. Vicksburg), Miss.— B on d O ffe r in g .
— Proposals will be received until 12 in. N ov. 3 by J. 1).
Laughlin, Clerk, for the following 5% bonds:

F lr s tN a t.B k .,U p .S a n d u s k y $5,300
T h e D avies & B ertram C o .,
C in cin n ati ---------------------- 5,287
S ea s on g ood & M ayer, C in e . 5,282
F irst N a t. B a n k , C levelan d 5,273
H a y d e n , M iller & C o .,C le v . 5,254
O tis & H ou g h , C le v e la n d .. 5,24-2
H o e h le r& C u m m ln g s ,T o le d o 5,232

00 O h io S .B .& T r . C o ..T o l e d o . $ 5 ,216 75
00
00
00
00
00
50

D r. J . VV. B y ers, U p . S a n d .
N ew F irst N a t .B k .,C o lu m b .
D a y to n S a v .& T r .C o .,D a y t.
C itizen s S a v . B a n k C o .,
U p p e r S a n d u s k y ________
M argaret J . P o n tiu s , U p p er
S a n d u sk y ( $ 1 , 0 0 0 ) _____

5,214 50
5,206 00
5,167 00
5,150 00
1,060 00

Valley Township School District, Scioto County, Ohio.—
B o n d O ffe r in g . — Proposals will be received until 9 a. m. to­

day (Oct. 30) by Geo. L. Bricker, Clerk Board of Education,
(P . O. Lucasville), for $5,000 4% coupon bonds.
A u th o rity S e ctio n 399 1, R e v ise d S ta tu te s.
D e n o m in a tio n $50 0. I n t ­
erest on A p ril 30 an d O ct. 30 a t L u ca sv ille .
M a tu rity $500 y e a r ly o n O c t .
30 fro m 1912 t o 1921 in clu sive .
P u rch a ser t o p a y a ccru e d Interest.

$48 ,000 c o u n ty -fa rm b o n d s. M atu rity 25 yea rs, s u b je c t t o call a fte r 5 yea rs.
6^500 C lay S t. e x te n s io n b o n d s.
M atu rity 20 yea rs, s u b je c t t o call a fte r
A 111 h or 11 vCS e ctio n s 331-333 an d 397 , C od e o f 1906.
D e n o m in a tio n $50*
a n d $1 000
D ate N o v . 3 1909.
In te re st a n n u a lly In V ic k s b u r g .
B onds
are exe’m n t fro m ta x e s . CertUled ch e ck on a n ation a l ban k fo r $500, p a y ­
a b le t o j ' d L a u g h lin . C lerk. Is requ ired w ith b ids fo r each issue.
B o n d ed
d e b t In clu din g these issues. $19 3 ,6 0 0 . N o ilo a tin g d e b t .
A ssessed v a lu a ­
tio n ’ $ 1 1 ,2 7 2 ,3 6 6 .

Washington C. H ., Payette County, Ohio.— B o n d O ffe r in g .
— Proposals will be received until 12 m. Nov. 8 by J. J.
Flynn, City Auditor, for $1,456 5% Delaware and Ogle
streets improvement assessment bonds.

Utica, N. Y .— B o n d S a le . — On Oct. 26 the following 4 )^ %
registered improvement bonds described in Y . 89, p. 1103,
o m in a tio n $145 60.
D ate O ct. 1 1909.
In te re st sem i-a n n u a l.
were sold to N. W . Halsey & Co. of New York City: $20,000 M aDtue nrity
$145 60 each six m on th s fro m O ct. 1 1910 t o A p ril 1 1915 Inclu­
to enlarge the Miller Street School, $80,000 to build a school siv e . C ertified ch e ck fo r 1 0 % o f b o n d s bid fo r, p a y a b le to the C ity T re a s ­
in the Second Ward and $18,000 to construct storm sewers., urer, Is r e q u ire d . P u rch a ser t o p a y accru e d Interest.
Waukesha, Waukesha County, W is.— B on d s D efea te d .—
The two first-mentioned issues, which mature part yearly
from 1910 to 1929, inclusive, were sold at 103.14, while the An election held Oct. 26 resulted in the defeat of a proposisewer issue, which matures part yearly from 1912 to 1929, ! tion to issue $10,000 4% manual training school bonds,
j The vote was 443 “ for” to 940 “ against.”
inclusive, was sold for 103.311. Following are the bids:

N EW LOANS.

N EW LOANS.

NEW LOANS.

$ 5 0 ,0 0 0
MONTGOMERY,

8 5 0 0 ,0 0 0

8 1 5 0 ,0 0 0
Autauga County, Alabama

ALA.

PAVING BONDS
Se a le d b id s w ill be received b y the C it y T re as­
urer o f M o n tg o m e ry , A la b a m a , for the purchase
«f $50,000 00 P a v in g B o n d s, d ated N o v e m ­
b er 1st, 1909, b e a rin g Interest a t the rate of Dive
per ce ntu m per a n n u m , sa id b o n d s to be In
d e n o m in a tio n of $500 00 each, p a y a b le ten years
from their date. S u c h b o n d s m a y , a t the o p tio n
• f the C it y of M o n tg o m e ry , be redeem ed a t a n y
In tere st period, In n u m e rical order, a n d n ot tn
ccceed on e-te n th of the tota l Issue In a n y nne
year, b u t In case the C it y sh a ll elect to p a y a n y
o f sa id b o n d s before their m a tu r ity . It sh a ll p a y ,
a s a b o n u s to the h old er thereof, a s u m equ al to
on e -fo u rth the a n n u a l Interest thereon. In te re st
to be p a id se m i-a n n u ally .
B id * to be received n o t la te r th an noon,
N O V E M B E R 1 5 T H , 1909, a n d each b id to bo
acco m p a n ie d b y a certified check fo r $ 1,000 00.
F a v o ra b le
o p in io n
of Sto re y ,
T h o rn d ik e ,
P a lm e r & T h a y e r of B o sto n a s to le g a lity o f b o a d s
to be fu rn ished successful bidder.
N o c o n d itio n al b id s a s to o p in io n of o tke r
a tto rn e y s w ill be entertained.
T h e C o u n c il reserves the r ig h t to reject aay and
aU bids.
R O B E R T T A I T , C it y Tre asu re r,
M o n tg o m e ry , Ain.

C I T Y OF S P O K A N E
25-YEAR
WATER EXTENSION BONDS
Seale d prop o sa ls w ill be received b y the S in k in g
F u n d C o m m issio n of the C it y of Sp o k an e , W a s h ­
in gto n , a t the office of the C it y C o m p tro lle r of
sa id city , u p to 11 o'c lo c k a. m . of the 22nd d ay of
N o vem b e r, 1909, for the purchase of a ll or a n y
p ortion of a $500,000 b on d Issue of said city.
S a id b on d s are Issued b y sa id c ity for the p u r­
pose of p a y in g o il o u tsta n d in g w a rran ts Issued
a g a in s t the W a te r E x te n sio n F u n d a n d co n stru c t­
in g a force m a in to be used In the general water
sy ste m , a n d b ear d ate of J u ly 1, 1909, paya b le
25 years a fter said date, a n d bear Interest a t a
rate not to exceed 4 H % a n n u a lly , p a y a b le se m i­
a n n u a lly a t the fiscal a ge n cy of the S ta te of W a s h ­
in g to n in N e w Y o r k C ity .
S a id C o m m issio n reserves the r ig h t to reject a n y
a n d a ll b id s, a n d each offer m u st be accom pan ie d
w ith a certified check fo r 2 % of the a m o u n t of
the bid , a n d m u st be fo r a t le ast p a r a n d accrued
Interest.
R O B E R T F A IR L E Y .
C it y C o m p troller.

Jo h n

H. W a t k i n s
M U N IC IP A L
AND

PERRY, COFFIN & BURR
Investment Bonds

R A IL RO A D BONDS
No. 2 W A LL STREET, NEW YORK

Blodget, Merritt & Co.
BANKERS

60 State Street, Boston

4 y 2%

BONDS

S ta te of A la b a m a , A u t a u g a C o u n ty , B o a r d ef
R eve n u e, P ra ttv ille , A la .
N o tice Is hereby
giv e n th a t the B o a r d of R e v e n u e of A u ta u g a
C o u n ty , A la ., In v ite s sealed b id s on the fo llo w in g
b on d s of sa id eounty: $55,000 of C o u rt H o u se
B u ild in g D e b t bonds; $20,000 of J a il B u ild in g
D e b t b on d s a n d $75,000 on P u b lic R o a d b onds.
B id d e rs w ill file their b id s w ith G . S . L iv in g st o n ,
P ro b ate Ju dge, a t P ra ttv ille , A la ., on o r before
N o o n of the 1 5 T H D A Y O F N O V E M B E R , 1909.
S a id b on d s are to m atu re t h ir ty (30) y ea rs from
d ate of Issue a n d b ear In tere st a t the rate af
(4 1 4 % ) F o u r a n d O n e -H a lf P e r C e n tu m ) per
a n n u m , p a y a b le se m i-a n n u a lly .
B id d e rs ar#
requested to bid fo r a ll o r a n y p o rtio n of said
b onds. A ll b ids a rc required to be secured b y a
p ro p e rly certified check of $500. T h e b on d s
w ill be so ld to the high e st bidder.
T h e B o a r d of
R e v e n u e reserves the r ig h t to reject a n y a n d all
bids.
D a t e d at P r a ttv ille , A la ., O c t. 18, 1989.
B o a r d of Revenue, A u ta u g a C o u n ty , A la .
B y O . S. L IV IN G S T O N .
P ro b a te J u d g e.

Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
FIRST N A T IO N A L BANK BUILDING
CHICAGO
W B OWN

AND

OFPER

6 0 S T A T E S T R E E T , liO STO N
3 0 P IN E S T R E E T , N E W Y O R K

M U N IC IP A L BONDS

McCOY & COMPANY

STATE, CITY & RAILROAD BONDS

Tax Exonspt Anywhere In the United States

Municipal and
Corporation Bonds

W . N. C O L E R & CO.,

Formerly MacDonald. McCoy * Co.

Write ter Partlenlars
BIRD S. COLER

LEONARD H. HOLE

BANKERS
43 CEDAR ST.. NEW YORK.

181 La Salle Street, - Chicago
Bank and Trust Company Stocks
NEW

YORK

AND

BROOKLYN

HOUCIHT AND SO LD

C L IN T O N G IL B E R T ,
9 W A L L ST ., NEW Y O R K .




GEO

8. E D W A R D S

BROKER AND COMMERCIAL AGENT
Negotiations, Investigations, Reports,
United States, Canada, or Foreign
Tribune Building, 164 Nassau Street
Telephone 4218 Beeknaan
NEW YORK. N. Y.

ULEV, SUl HERLlft&OO.
617 First Nat. Bank Bldg. CHICAGO, I LL.

M U N IC 'P A L A N D R A IL R O A D

BONDS.
L IS T O N

A P P L IC A T IO N

SEASONGOOD &

MAYER,

Mercantile Library Building
CINCINNATI

Wellington, Lorain County, Ohio— Bond Sale.— Reports
3tate that $10,000 5% 1-10-year (serial) street-improvement
bonds offered on Oct. 25 were awarded to the Davies-Bertram
Co. of Cincinnati at 104.63. Interest semi-annual.
West New York, Hudson County, N. J.— Bond Offering.—
Proposals will be received until 8 p. m. Nov. 16 for $6,000
Eleventh St., $10,000 Ninth St. and $20,000 Sixteenth St.
5% coupon or registered street-opening bonds.

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Winston (P. O. Winston-Salem), Forsyth County, No.Car.
■— Purchasers of Bonds.-— W e are informed that the Wachovia
Loan & 1 rust Co. of Wachovia was the purchaser of the
$40,000 railroad-aid-refunding and the $100,000 publicimprovement-refunding 4y2% bonds recently sold. V. 89,
p. 1104. The former issue is dated N ov. 15 1909 and
matures in 1939, while the latter issue is dated Aug. 15 1910
and is due in 1940. The price paid was par. Interest
semi-annual.
Wymcre, Neb.— Bond Offering.— According to reports,
the City Council has instructed the Clerk to advertise for
proposals for $30,000 4% refunding bonds due in 1925.

A u th o rity S ection 73, C h a p ter 113, L a w s o f 1895.
D e n o m in a tio n $1,000.
D ate Ja n . 1 1910.
In te re st sem i-an n u al. M atu rity 10 y e a rs. C ertified
c h e c k (or cash) fo r $500, p a y a b le to the T o w n T r e a s u r e r , Is re q u ire d w ith
bids fo r each Issue. Jam es L . W o lfe , T o w n C lerk.

West Unity, Williams County, Ohio.— Bond Sale.— The
$1,800 4 % % 7-12-year (serial) coupon street-improvement
bonds described in V. 89, p. 952, were awarded on Oct. 22
to the Vinton Banking Co. of Vinton at 101.555 and accrued
interest. Poll owing are the bids:

( anada, its Provinces and Municipalities.

V in to n B a n k in g C o ., V in to n $ 1,828 0 0 1F ir s t N a tio n a l B a n k , C olum J . A . H o llln g to n , W . U n ity 1,821 0 0 1 bus i _____________________ $1,819 70

Areola, Sask.— Nay & James of Regina were the successful
bidders recently for an issue of $15,000 5J^% debentures.
Beaverton, Ont.— Debenture Offering.— Proposals will be
received up to N ov. 1 by A. W . Talbot, Reeve, for $7,000
4 K % school debentures.

White Plains, N. Y .— Bond Offering.— Proposals will be
received until 8 p. m. N ov. 11 by the Board of Village Trus­
tees, Frederic S. Barnum, President, Earl P. Hite, Clerk,
-for $20,000 4 )^ % macadamizing bonds.
A u th o rity C h apter 80. L aw s o f 1906.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate
O c t . 1 1909. In terest sem i-a n n u a l. M a tu rity $5,0 0 0 y e a rly on O ct. 1
fro m 1935 to 1938 Inclu sive. C ertllied c h e ck o n a S ta te o r n ation al bank
•r tru st c o m p a n y fo r 5 % o f bid Is requ ired .

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Wilberton, Latimer County, Okla.— Bonds Voted.— An
election held here recently, it is stated, resulted in favor of a
proposition to issue $45,000 school-building bonds.
Wilmington, Del.— Bond Offering.— Proposals will be re­
ceived until 12 m. N ov. 11 by the Finance Committee,
James Kane, Richard C. McMullen and Samuel II. Benson
Jr., for $200,000 4% water-works bonds.
..
C h apter 179, V'ol. 2-1, L a w s o f D elaw are.
D e n o m in a tio n
$ 1 ,0 0 0 .
In terest M ay 1 and N o v . 1.
M a tu rity o n N o v . 1 as follow s:
$45 ,000 In 1923, $60,000 In 192 1, $70,000 In 1925 and $25 ,000 In 1926.
Bid
M « s t be m ad e on a form furnish ed b y the c it y an d be a c c o m p a n ie d b y a cert l i c d ch eck on som e ban k o r trust c o m p a n y fo r 2 % o f b o n d s bid fo r . T h e
b a n d s w ill be deliv ere d N o v . 18 190*.

y e a r ly V o ? 3^ “ y e a r ^ a t th e S ta n d a rd B» » k ** B e a v e r to n .

NEW LOANS.

M ISCELLANEO US.

$ 2 5 ,0 0 0

OFFICE OF TH E

€ IT Y OF BURLINGTON, N.J.

ATLANTIC MUTUAL INSURANCE COMPANY.
N ew Y o r k , J a n u a ry 21st, 1909.

WATER BONDS
T h e C ity o f B u rlin g to n , N ew Je rse y , Invites
p rop osa ls fo r $25 ,0 0 0 In 4 % W a te r B o n d s, 10-30
y e a rs , w ith S in k in g F u n d p r o v is io n . O pen ed o n
N o v e m b e r S e c o n d , 1909.
P articulars furnish ed
« • a p p lic a tio n to
T H O M A S S. M O O N E Y ,
C ity Clerk

The T rustees, in conform ity with the Charter o f the C o m p a n y , subm it the follow ing statem entof its affa trs
on the 31 st o f D ecem ber, 190*.
P rem ium s o n M arine R isk s fro m 1st J a n u a ry , 190 8, to 31st D e ce m b e r. 1 9 0 *____________ $3,3 0 7 ,8 0 7 24
743 .380 01
P rem iu m s o n P olicies n o t m ark ed o il 1st J a n u a ry , 190 8____________________________________
T o ta l M arine P rem iu m s________________________________________________________________________ $4,0 5 1 ,1 9 6 25
P rem ium s m arked ofl fro m 1st J a n u a ry , 1908, t o 31st D e ce m b e r. 190 *____________________ $3,333,483 55
In terest re ce ive d d u rin g the y e a r ______________________________ $ 3 0 7 ,(2 3 39
R e n t less T a x e s an d E x p e n s e s ___________________________________ 142,032
22

CANADIAN

MUNICIPAL BONDS
W . A. M A C K E N Z IE & CO.,
TORONTO, CANADA

THE AMERICAN MFG CO.
MANILA, SISAL AND JUTE

CORDAGE.
4S Wall Street,

M a tu rity p art

District of Spallumcheen, B. C.— Debenture Sale.— This
district recently awarded Geo. A. Stimson & Co.of Toronto
the following debentures: $8,000 5% 30-year; $5,000 20year; $3,300 5% 10-year and $1,800 6% 10-year.
Kamloops, B. C.— Debenture Sale.— Brent, Noxon & Co
of Toronto have been awarded $8,000 5% 25-year isolationhospital, $20,000 5 }4 % 25-year water-works and $10,000
5% 10-year local-improvement debentures.
Kenora, Ont.— Debenture Sale.— This municipality has
awarded issues of $25,000 5% 10-year school and $1,770
5 lA % 20-year local-improvement debentures to Brent,
Noxon & Co. of Toronto.
Kolomyia School District No. 1878 (P. O. St. Julien),
Sask. Debenture Sale.— An issue of $800 6% debentures
was disposed of on Oct. 1 through the Bank of British North
America in Rosthern at par.

New Yorl

$44 9,85 5 61

L osses p aid d u rin g the y e a r w h ich w ere estim ated In 1907
an d p re vio u s y e a r s_____________________________________________ $ 42 0,6*3 46
Losses o c c u r re d , estim ated an d paid In 1908............................... 1,2 7 4 ,* 2 2 22 * 1 .6 9 5 ,4 7 7 68
Less S a lv a g e s ____________________________$279,98* 33
lic -ln s u r a n c c s ___________________________ 199,555 37

479 ,5 4 3 70
$1,215,933 98

R etu rn s o f P re m iu m s__________________________________________________________
E x p en ses, In clu din g officers* salaries and clerk s’ c o m p e n s a tio n , sta tio n e ry ,
new spapers, ad ve rtise m e n ts, e t c ___________________________________________
ASSETS,
U nited S tates & S tate o f N ew Y o r k
S to c k , C ity , B a n k a n d o th e r Se­
curities ____________________________$5,4 4 2 ,7 0 2 00
Special d e p o sits In B anks & TrustC os.
8 00 ,000 00
R ea l E state c o r . W all & W lllla m S ts.,
& E x ch a n g e P l a c e .$ 4 ,2 9 9 ,4 2 6 04
O th er R eal E sta te &
claim s d u e the c o m ­
p a n y _______________
7 5 ,000 00 4 ,3 7 4 ,4 2 6 04
P rem iu m n otes an d Bills R e c e iv a b le
Cash In the han ds o f E u rop ean
Bankers to p a y losses u nd er poli­
cies pa ya b le In fo re ign co u n tr ie s .
Cash In B a n k ________________________

1,3 7 7 ,9 0 5 06

$51 ,930 45
$344,266 83

L IA B IL IT IE S .
E s tlm a tcd
and Losses U nse ttle d ^__________________________ $ 2,310,433
P rem iu m s o n U n term in ated R is k s .
717.712
C crtlD cates o f P refiu i and In terest
U npaid __________________________
260,822
R etu rn Prem ium * U n p a id _________
121,473
Certificates o f P rofits O rd ered R e ­
d e e m e d , W ith h eld fo r U npaid
P r e m i u m s ________________________
22.3 3 9
Certificates a f P rofits O u tsta n d ­
in g ........................................................
7 ,3 6 3 .4 1 0
R eal E state R eserve F u n d ____
2 70 ,000

0*
76
33

66

35
01
0*

399,031 05
4 29 ,950 18

A g g re g a tin g -----------------------------------$ 1 2 ,8 2 4 ,1 0 5 23

A g g re g a tin g _______________________ $ 11 ,066 ,10 1 *5

A d iv id e n d o f Interest o f Six p er ce n t o n the o u tsta n d in g certlflcates e f profits w ill b e paid t « t h «
holders th e re o f, o r their legal rep resen tatives, o n and a fte r T u e s d a y the sec ond o f F e b r u a r y n e x t
T h e o u tsta n d in g certificates o f the Issue o f 1S03 w ill be redeem ed and paid t o th e h olders th ereof,
o r their legal represen tatives, o n and a fter T u e s d a y th e s ec on d o f F e b r u a r y n e x t, fro m w h ich d a te a l
Interest thereon w ill cease. T h e certlflcates to be p rod u ced a* tha tim e o f p a y m e n t and ca n celed .
A d iv id e n d o f F o rty p er ce n t Is d eclared o n the net earned prem iu m s o f the C o m p a n y fo r the year
en d in g 31st D e ce m b e r, 1908, fo r w h ic h , u p o n a p p lic a tio n , certificates w ill he Issued o n an d a ftw
T u e s d a y th e f o u r t h of M a y n e x t .
B y order of the Bo a rd

Q . STANTON F L O Y D -JO N E S. Secretary.

N A T IO N A L L IG H T ,
H E A T & P O W E R CO
GUARANTEED

BONDS

... ,

Alt ,MU#*

A. H. Bickmore & Co.,
RANKER*

SO P i n e Stre e t,



N e w Y«»ri.

G U S T A V A M S IN C K ,
F R A N C IS M. B A C O N .
JO H N N. B E A C H ,
W IL L IA M B. B O U LTO N .
V E R N O N II. B R O W N .
W A L D R O N P. BR O W N ,
JO H N C L A F L I N ,
G E O R G E O. C L A R K ,
CLEVELAN D H . DODGH.
C O R N E L IU S E L D E R T .
R IC H A R D II. E W A R T

TRU STEES.
H E R B E R T L . G R IG G S ,
C L E M E N T A . G U 1S C O M .
AN SO N W . H A R D .
L E W IS CASS L E D Y A R D ,
F R A N C IS H . L E G G E T T .
C H A R L E S D . L E V E R IC H ,
LEAN D ER N. LOVELL,
G EO RG E H . M ACY,
CH ARLES H . M ARSH ALL.
\X. U . I I . M O O R E ,

N IC H O L A S F . P A L M E R .
H E N R Y P A R IS H ,
D A L L A S B. P R A T T ,
G E O R G E W . Q U IN T A R D ,
A. A. R A V E N ,
JO H N L. R IIIE R ,
D O U G L A S R O B IN S O N ,
GUSTAV H. SCH W AB.
W IL L IA M S L O A N E ,
IS A A C S T E R N ,
W IL L IA M A . S T R E E T .
A . A . R A V E N , P resid en t.
C O R N E L I U S E L D E R T . V ice-P resid en t.
S A N F O R D E . C O B B , 2d V ice-P resid en t.
C H A R L E S E . F A Y , 3d V ice-P resid en t.
J O H N H . J O N K S n - E W A R T . 4th V ic e -P r es id e n t.

D ate S e p t. 30 100 9.
In tere s t an n u a l.
fro m 1910 to 1914 In clu sive.

M a tu rity p a rt y e a r ly o n S e p t. 30

Lindsay, Ont.— Debenture Election.— In January 1910 the
voters of this place will have submitted to them a proposi­
tion to issue $55,000 public-school debentures.
Lucknow, Ont.— Debenture Sale.— An issue of $11,000
4% and 4 Y i% debentures has tjeen awarded to Chas. Burgess
& Co. of Toronto.
Maple Creek, Sask.— Debenture Offering.— Proposals will
be received until N ov. 3 for $45,000 5% sewer debentures.
In terest an n u a l. M atu rity p a rt a n n u a lly fo r 30 years.
Is S ecreta ry -T rea su rer.

A . I I . G reeley

Meaford, Ont.— Some time in the near future a by-law to
raise $25,000 for the building of a new school house will be
presented to the electors for their approval or disapproval.
Monastyr School District No. 2328, Sask.— Description of
Debentures.— We are informed that the $1,000 school­
building debentures awarded on Aug. 2 to I I . O’ Hara & Co.
of Toronto (V . 89, p. 683) carry interest at the rate of 5%
and not 5 M % as at first reported.

Pene'ang, Cnt.— Debenture Election.— An election will
shortly bewailed for placing before the voters a by-law to
raise $15,000 for public-school additions.
Peterboro, Ont.— Debenture Sale.— II. O’ Hara & Co. of
Toronto have been awarded an issue of $25,000 4 % % 20year bridge debentures.
Richmond, B. 0.— Debentures Authorized.— A by-law has
been passed, it is stated, providing for the issuance of $275,­
000 water-works and $75,000 road-improvement debentures.
St. Lambert, Que.— Debentures Authorized.— An issue of
$7,000 5% 50-year debentures has been authorized by this
municipality.
Salt Lake School District No. 2056, Sask.— Price Paid fo r
Debentures.— Nay & James of Regina paid 100.125 for the
$800 5 \ i% school-building and equipping debentures
awarded them (V . 89, p. 1028) during September.

Scarboro Township, Ont.— Debentures Authorized.— A by­
law to raise $16,000 debentures for a school-site and building
has been passed by this township.
Smith’s Falls, Ont.— Debenture Election.— An election will
Montreal Catholic School District, Quebec.— Debenture
Sale.— It is reported that the $150,000 4% 40-year coupon shortly be held in this place for ascertaining the opinion ot
school-building debentures offered on Oct. 26, and described the voters on issuing $46,500 Collegiate Institute debentures.
in V. 89, p. 1028, were awarded to the Provincial Bank at
South Vancouver, B. 0 .— Debenture Sale.— Wood, Gundy
& Co. of Toronto were awarded the $225,000 5% 50-year
97.60.
North Vancouver, B. C.— Debentures Proposed.— An issue water-works debentures offered on Oct. 23 and described in
of $128,000 5% debentures is likely to be issued by this place V. 89, p. 1105.
Sydney, N. S.— Debenture Sale.— Hanson Bros, of Mon­
for the purpose of providing for a new fenyboat, a rein­
forced concrete walk and for the general improvement of the treal have been awarded two issues of 4j/£% debentures,
aggregating $30,000. Interest semi-annual. Maturity 30
present ferry system.
Orange Valley School District No. 1952, Alberta.— years beginning July 2 1909.
Westmount, Que.— Debentures Offered by Brokers.— C.
Debenture Sale.— An issue of $1,500 6% 10-year school­
building debentures has been sold to the Manufacturers’ Meredith & Co. of Montreal are offering for sale an issue of
Life Insurance Co. of Calgary for $1,562— the price thus $415,000 debentures, maturing May 1 1953.
being 104.133. Date N ov. 1 1909. Interest August 1.
Woodstock, Ont.— Debentures Authorized.— School deben­
Pembroke, Ont.— Debenture Sale.— Issues of $20,000 tures amounting to $30,000 were recently authorized.
Yorkton, Sask.— Debenture Election.— An election will be
4y i% , $10,0C0 electric-pump and motor and $30,000 deben­
tures, the latter being a bonus to the Lee Manufacturing held in this place for the purpose of voting on a by-law to
raise $40,000 for high schools.
Co., have been awarded to Brent, Noxon & Co. of Toronto.

D en om in a tion $10 0.
D a te A u g . 28 1909.
part y e a r ly fo r 10 y ea rs.

In te re st an n u al.

M atu rity

ACCOUNTANTS.

M ISCELLANEO US.

M ISCELLANEO U S.

1908

18S0

The United States Life
Insurance Co.
Arthur Young & Co.
A. B. Leach & Co.,
1NITHB CITY OP NEW YORK
lim es Guaranteed Contract*.

BANKERS,

Certified Public Accountants

JOHN P . M U N N , M .D., President

(IL L IN O IS )

Finance C om m ittee

N ew Y o r k , 3 0 Pine S tre e t
M ilw a u k e e , 0 3 3 VVelle B id *
C h icago, 1 3 1 3 M onndnook Block
K a n s a s C ity, 1 1 0 0 Com m erce B ld g .

149 B r o a d w a y , N E W Y O R K
1 4 0 D e a r b o r n S t., C H IC A G O

JAMES R . PLU M ...................................... Lent hei
OLARBNOH H.K ELSEY.Pree.Title On. A Tr. Oo.
W M . H. PORTER. Pna. Chemlca National Bank

2 8 State S t ., B O ST O N
4 2 1 C b e a tn n t S t., P H I L A D E L P H I A

Good men. whether experienced In life Insurance
or not, may make direct contract* with thla Com­
pany, for a limited territory If desired, and secure
tor themselves, In addition to drat year** oommleslon. a renewal Interest Injuring an Income for the
future. Address the Company at ita Home Office!
No 87? Broadway. New York City.

rBRAND,
ROSS
BROS A
MONTGOMERY
irtified Public Accountant*

NOW READY

(Pennsylvania)
L an d T it le Building
PH ILAD EL PH IA,
llty Investing llld g ., 1 0 3 B r o a d w a y

NEW Y O R K .

Hand Book of Securities
JULY 1909 EDITION

Union llank Building
PITTSBU R G H .
F irst Nntl ona l Ba nk Bl dg.,
m u n i n il

JA M E S P A R K & CO.
OERTIYIED PUBLIC ACCOUNTANTS

Statistics and prices to July 1 1909
Earnings, Fixed Charges and Dividends for series of years
Range of Prices for Stocks and Bonds—
•
□ -J •

New York,Chicago, Cincinnati
London, England.

and

AUDITORS FOR FINANCIAL INSTITU­
TIONS. INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements,
Periodical Audita and Accounting.

Monthly Range for 1908 and to July 1 1909
Yearly Range for 1903, 1904, 1905, 1906, 1907 and 1908
Price 75 cents

ALFRED ROSE & C0.f
CERTIFIED PUBLIC ACCOUNTAETB
58 Pine Street,

In quantities, with business cards lettered in gilt on the cover, at special
rates

-

NEW YO RK

T e le p h o n e 4201 J ohn.

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