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f'
TWO
ONE.
OCT
-Kr
ry
INCLUDING
Bank &
Quotation Section
Railway
Earnings Section
X
Railway & Industrial Section
Bankers* Convention Section
Copyrighted in 1910, by William B. Dana Company, New York.
VOL, 91.
Electric Railway Section
State and
Entered at N. Y. Post Office
as
financial.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
NEW
■*
Vv % ;
Iftttatuctal.
YORK
Government,
out the world
r
Railroad
THE
and
Municipal Bonds
<•.
LIBERTY
NATIONAL
INVESTMENT SECURITIES
The Company Is a legal depositary (or
moneys paid Into Court, and is author¬
ised to act as Executor, Administrator,
BANK
OF NEW YORK
PHILADELPHIA, represented by
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
Trustee. Guardian. Receiver, and In all
other fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
as Transfer Agent and Registrar of Stocks
and Bonds.'
v
Receives deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on daily balances.
Manages Real Estate and lends money
on bond and mortgage.
Will aot as Agent In the transaction of
any approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
218 La S&lle St.
BOSTON. MASS., represented by
JOHN B. MOULTON. 35 Congress St.
The National Park Bank
of New York
139 BROADWAY
N.W. HARRIS & CO
BANKERS
Organized 1856.
Capital.
.....
Pint Street, Corner William
9^,000,000 00
12 594,073 17
102,028,689 17
...
Surplus and Profits.
Deposits Sept. 1,1910
New York.
Fiscal Agent for States. Counties and
Otttee.
RICHARD DELAFIELD,
President.
GILBERT G. THORNE.
JOHN C. McKEON.
vice-President.
Vice-President, f
*
JOHN C. VAN CLEAF.
U **'
NEW YORK
35 Federal St.. Boston
.
16-22 WILLIAM STREET
475 FIFTH AVENUE
Vice-President.
MAURICE Hr EWER,
Cashier.
NEW YORK
LONDON
NO. 2363.
BANKERS
Foreign Exchange, Cable Transfers,
Letters of Credit, Payable through¬
City Section
second class mail matter.
NEW YORK, OCTOBER 8 1910.
gttiaujcial.
101910
PARIS
WILLIAM O. JONESr-* WILLIAM A. MAIN.
Asst. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT. Asst. CaSMer.
Members of Richmond and Baltimore Stock
Reoelve
palities
deposits subject to check
Interest on balances.
fiscal agents for munici¬
and
corporations
Issue
letters
of
and
allow
Aot
as
credit ' and
deal
In
BONDS FOR INVESTMENT
LIST ON APPLICATION
Exchanges.
John L. Williams & Sons
BANKERS
Corner 9th end Main Streets
RICHMOND, VA.
THE
Edward JL Smith & Co.
MECHANICS AND METALS
bankers
NATIONAL BANK
INVESTMENT SECURITIES
Baltimore Correspondents:
MIDDENDORF. WILLIAMS & CO.
N. E. Cot. Broad & Chestnut Sts.,
Fifth Avenue Building
Corner 6th Ave. and 23rd St., New York.
-sf
.
5,
0
V
«v3 .:■%
*
Capital, $ 1,000,000
*-•»
Members New York and Phlla. Stock Exchange
38 Wall Street
GARFIELD NATIONAL BANK
PNfipJ.
#.
Philadelphia
IT Pine Stmt. New’ Vofk
Surplus,
6,000.000
-
Surplus, $ 1,000,000
RUBL W. POOR. President
JAMES McCUTCHEON. Vice-Pres.
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW. Asst. Cashier
ORMIINAL CHARTER 1829
THE
Cha«£
National B*gk
Clearing House
Building
Cap. & Surp., SlS.70e.779
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL‘BANK
^
Dep., J96.750.273
A. B. HEPBURN, President
A. H. Wiggin. V.-Pres. C. C. Slade. Asst. Cash.
S. H. Miller, V-Prea.
E. A. Lee, Asst. Cashier.
H. M. Conkey, Cashier. WE* Purdy, Asst. Cash.
A* C. Andrews, Asst. Cashier.
; w
*,*
4
*
.
•
OF RAILROAD. GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
v
fv
■
109-IU
•
*'}
wnrt
•'tf.
30VTH FOURTH STRICT
NATIONAL
$1,000 000
2,460,000
and Profits (earn
;
w-
—CORNER NASSAU AND PINE
"STREETS—IS
ARRANGED
ESPECIALLY
FflR^P.MNG
MERCANTILE ACCOUNTS.
SAMUEL WOOLVBRTON. President
ADRIAN ISBLIN JR.. Vice-President
BANK
OF THE CITY OF NEW YORK
-
Capital
Surplus
OFFICERS
fib?
FOURTH
OF THE CITY OF NEW YORK
~
/
First National Bank
CaShletf*H**
GBORGB
LEWIS.
HOWHLL T. MAN90N, Am. Cashier
9{ PhU^lelphia
3X6 CHESTNUT STREET
DIRECTORS
Adrian Xaelln Jr.
Stevens
Frederlo W.
ACCOUNTS
INVITED
Chat. A. Peabody
Se.muel Woolverto
Charles Hi Tweed
Thesnss Denny
,
Alexander H. Stevens
W. Bmlen Rooeeseftt
.j.’'
^
tt&S
•
.
'•‘A
•
i'‘'V
THE CHRONICLE
II
[Vol.
Lxxni.
Uiwke** attfl Femrecs *f foreign Sscbangt.
J. P. MORGAN & CO. Maitland, Coppell & Co., Kidder, Peabody & Co.,
DOMESTIC AND FOREION BANKERS
Wall Street
S2 WILLIAM STREET
Corner of Broad
NEW YORK
DREXEL & CO*
PHILADELPHIA
Corner of 0th and Chestnut Streets
MORGAN, GRENFELL & CO, LONDON
HARJEST
&
BIOS of Exchange,
Telegraphic Transfer*,
CO* PARIS
London
of
Foreign Exchange, Commercial Credits
Cable Transfers
Gtreular Letters for Travelers available In all parts
of the world
Brown Brothers & Co.,
BOSTON.
4
Bank,
Limited,
TRAVELERS* LETTER8 OF CREDIT
Available throughout the United States
ALEX. BROWN A SONS, BALTIMORE.
Conflicted bv Private Wire.
Hems N. Y., Phlla., Boston A Balt. Stock Exch’s.
No. 88 NASSAU STREET.
Members New York Stock Exchange.
vestment Securities on com I nVPCfTDPTlf
mission.
Receive accounts All VC oLllltill
SSW£27&£3S2£
Securities
favorable
Collect
setters
#
”6
,.
Buy and sell Bills of Exchange
and make cable transfers on all
points.
Issue Commercial and
of the world.
BROWN, SHIPLEY & CO., LONDON
LONDON
J. & W.
BANKERS
NEW
sale
of
Seligman Brothers, London
Seligman Brere* A Cie., Pari*
Aleberg, Oeldberg A Co., Amsterdam
The Angle and London*Pari* NaUamtd
Bank of San Praneieee, Cal.
Graham, Vaughan & Co.,
New York.
IRnhmmd&Ca
BANKERS
BANKERS
INVESTMENT SECURITIES
31-33 Pint Strtet, Now York
27 Pine Street, New York
MEMBERS NEW YORK STOCK EXCHANGE
684 Fifth Ave., N. Y.
SOT Chestnut Street, Philadelphia.
BANKERS
Lawrence Turnure & Co.
INVESTMENT
64-66 Wall Street, New York
Members of the New York Stock Exchange
Deposits received subject
lowed
to draft.
Winslow, Lanier & Co.,
Interest al¬
on deposits.
Securities bought and sold on
commission. Travelers’ credits, available through¬
out the United States, Cuba. Puerto Rico, Mexico,
Central America and Spain. Make collections in and
issue drafts and cable transfers
on
above countries.
London Bankers:—London Joint-Stock Bank.
Limited.
Paris Bankers:—Heine & Co.
Produce
Deposits Received Subject to Draft.
Interest
ABowed on Deposits. Securities
Bought and Sold on
Commission.
Capital
Foreign
$1,000,000
500,000
...
-
Exchange
-
bought
and
sold.
received
subject
Interest allowed
on
to
cheque and
deposits.
Members New York Stock Exchange.
Securities bought and sold on
Act
as
Fiscal Agents.
Graham 3c Co.
Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of tbe world.
BANKERS
485 Chestnut 8treat
ACCOUNTS INVITED
PHILADELPHIA
HEIDELBACH, ICKELHEIMER & CO.
BANKERS
87 William Street.
Government
Securities
and
of
Municipal Bonds,
Railroads, Stieot
Railways and Gas companies
BANKERS.
a
Deposits
Exchange Bank
Kean, Taylor & Co.
Transact
Bills of Exchange and Cable Tteneters.
BROADWAY. Corner BEAVER ST.
Surplus earned
Foreign Exchange. Letters of Credit
Cbequm.
Lists upon application.
NEW YORK
BANKERS
of Credit and Travelers*
available tbe world over.
Dealers in High-Grade Investment l
59 CEDAR STREET
NEW YORK
Cablet "Mimosa."
Letters
Bankers
SECURITIES
SO PINE
YORK
EUROPE AND CALIFORNIA
Available in ail parts of the world.
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE. Cuba, and the
other West Indies. Mexico and California
44 Pine Street.
TAILER&CD
Seligman & Co,
DRAW BILLS OF EXCHANGE AND MAID
TELEGRAPHIC TRANSFERS OF MONET ID
fAfPrl
if
Credits, available In
v^lCLUl Travelers’
a|j parts
LTD.
Letters of Credit fer Travelers.
Available in all Parts of the World
for Travelers
Execute orders for the purchase and
Bonds and Stocks.
00.
A
Buy and Sell Investment Securities
ISSUE LETTERS OF CREDIT
terms.
T
BROTHERS
Issue
Agents and Correspondents of the
Messrs. ROTHSCHILD.
London. Paris and Vienna.
T
drafts drawn abroad on all points in tbe United
States and Canada: and drafts drawn in the United
States on foreign countries. Including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT.
Correspondents of
BABINS
August Belmont & Co.,
BANKERS.
on
LETTERS OF CREDIT
j
Messrs. Mallet Freres & Cie„ Paris,
Banco Nacional de Mexico
And Its Branches.
Agents for the Bank of Australasia, the British
On* aa Bank, Demerara, etc., eto.
69 Wall Street
Buy and sell first-class In-
INVESTMENT SECURITIES.
FOREIGN EXCHANGE.
Smiths
London,
.
Deposits received subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
NEW YORK.
Union
STREET, NEW YORK
BANKERS
on
81 Boulevard Haussmann
PHILA.
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
Issue Loans.
No. S3 Old Brood Street
MORGAN,
115 DEVONSHIRE STREET BOSTON
NEW YORK
of ostablished value.
MEMBERS N. Y. STOCK EXCHANGE.
STREET, NEW YORK
Execute orders for purchase and sale of
Stocks and Bonds.
Oeneral Foreign and Domestic
Banking Business
Foreign Exchange Bought and Sold.
Dealers in Investment Securities
Issue Commercial and Travelers* Credits
available in all parts of the world.
1
John Munroe & Co.,
NEW YORK
BOSTON
Letters of Credit for Travelers
Sentmercial Credits.
Foreign Exchange.
Cable Transfers.
MUM BOB ft 00., Paris
Schulz & Ruckgaber,
BANKERS.
IS William Street,
Members
New
....
York
Stook
Fruhllng & Goschen. London.
John Berenberg-Gossler A Co., Hamburg.
Marcuard, Meyer- Borel A Cie., Paris.
Bremer Bank Flllale der Dresdner
Bank,
Bremen.
Tmue Commercial A Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfers A Investment Securities
as
Financial Agents
Issue Foreign and Domestic Letters
Credit end Travelers’ Cheques
Knauth, Nachod&Kiihne
BANKERS
New York
Exchange.
Correspondents of Messrs.
Act
H*W YORK
LKIPSIQ, GERHART
Members New York Stock
^unar
INVESTMENT
SECURITIES
i
8
1910.]
THE CHRONICLE
gattluvs.
ui
Santuvs.
iattkei
Millett,Roe & Hagen
Lee, Higginson & Co.
BANKERS
Wm. A. Read & Co.
BOSTON
Now York
S3 Wall Street
BANKERS.
Chicago
Dealers In
Members New York, Chicago and Boston
1
HIGGINSON & CO.
I Bank
Stock
Buildings, Prince’s Street
LONDON, E. C.
New York
HIGH-GRADE BONDS
Exchanges.
Investment Securities
Members New York Stock
Excdange
Boston, 15 Congress Street
25 NASSAU STREET,
NEW YORK
Plympton, Gardiner&Co.
BOSTON
BALTIMORE
CHICAGO
N. W. HALSEY &
LONDON
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Conservative Investments
Interest Allowed
ox
Deposit Aooooats
Fiscal Agents for Cities and Corporations
LISTS ON REQUEST
27 William St., New York
132 La Sails Street.
54 Old Broad Street.
CHICAGO
LONDON. E. C.
Rhoades&Company
40
Wall Street, HEW YORK
Philadelphia
Chicago
San Praacisco
BANKERS
46 WALL
STREET, NEW YORK
George P. Butler & Bro.
SO Wall Street
Trowbridge & Co.
High-Grade Bonds
State,
Municipal
and
Exchange
Railroad
Members New York Stock Exchange; Execute
Commission Orders; Deposits received subject to
draft.
(or Investment
Available
111
Throughout the World
NEW HAVEN
Broadway
134 Orange St.
Goldman, Sachs & Co.
CHICAGO
STREET. NEW YORK
BOSTON
Members of New York & Chicago Stock
Blake Brothers & Co.
Exchange Place,
Execute
sale
14 State Street,
NEW YORK
Buy
BOSTON
Issue
NEW YORK CITY
orders
of
and
CABLE
Dealers In
purchase and
Stocks and Bonds
Sell Foreign Exchange.
ADDRESS, “COLDNESS"
Commercial and Travelers’
Letters of Credit
DEALERS IN
Securities
and Commercial
Paper
Members New York & Boston Stock
Zimmermann & Forshay
BANKERS
BOISSEVAIN & CO.
Members New York Stock Exchange.
NEW YORK.
Orders executed for stocks and bonds for
Invest¬
ment or on
Exchange.
A GENERAL BANKING
STUCK EXCHANGE B USINESS.
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT SECURITIES
Members New York Stock Exchange
and Boston Stock Exchange.
BOSTON
Ill Broadway
NEW YORK
234 LaSalle St.
CH1CAQO
fo.
20
Nassau Street,
Now Yovk
-
HIGH-GRADE
INVESTMENT SECURITIES
Wollenberger & Co.
BANKERS
Specialists In
Cable
Transfers
to
all
Parts
of
208 U Salle Street
BIRD 8. COLER
the
f
Foreign Government Bonds
-
CHICAGO
-
LEONARD H. HOLE
W. N. COLER & CO.
Letters af Credit Issned
AND
BANKERS
IS Congress St.
margin.
Faraip Exchange Bonght and Sold
BOND & GOODWIN
BANKERS
Members of New York Stock Exchange
Correspondence Invited.
• and 11 Wall Street, New York.
24 BROAD STREET.
TRANSACT
SIMON BORG & CO.,
Exchanges
Investment
Adolph Boissevaln & Co..
Amsterdam, Holland.
and
Issue Letters of Credit for Travelers, avail¬
able in all parts of the world.
for
COMMERCIAL PAPER
INVESTMENT SECURITIES
Members New York Stock
West Indies, Central and South Americ
Mexico.
Available in all parts of the world.
and other MUNICIPAL BONDS
Exchanges
Exchange and make Cable
Europe, Asia, Australia, the
Transfers to
BANKERS
60 WALL
60
H. B. HOLLINS & CO.
Draw Bills of
HARTFORD—36 Pearl Street
NEW YORK
RAILROAD AND OTHER
INVESTMENT SECURITIES.
Cor. of Wall and Broad Sts., New York.
Letters of Credit and
Travelers* Checks
Bonds and Stocks
NEW YORK
Members N. Y. Stock Exchaage
BANKERS
Members New York Stock
CO.,
Bankers
BANKERS
World.
43 CEDAR
ST., NEW YORK
INVESTMENTS
CRAMP, MITCHELL & SHOBER
BANKERS
1411 Chestnut St.
BANKERS
Philadelphia
Members New York and Phlla. Stock
Exchanges
New
York Cotton
Shoemaker, Bates & Co.
Exchange
Investment Securities
new
iuri
owuk
Members {New York Cotton
l Chicago Stock
EiXOJUlin
Exohangs
Exchange
INVESTMENT SECURITIES
37-43 Wall
Street, New York
Waldorf-Astoria and 500 Fifth Avo., Now York
Real Estate Tr. Bldg., Phlla.
[Vob. Limi.
THE CHRONICLE
It
(txnadtxu.
BERLIN W
89 CORNHILL.
Behrenstrasse 9 to 13
REST,
Telegraphlo Address, Udlsco, London.
'CAPITAL
$47,619,000
200.000,000.
M.
$26,172,895
RESERVE
M. 105.726.164.
Dividends paid during last ten years:
11, 11, 11. 11. 12.
12. 12. 12. 12. 12 X per
cent
Capital Subscribed-—'—
Paid-Up
Reserve Fund
$5= £1 STERLING.
64 WALL STREET
and
R. Y. HEBDEN.
1
W. A. BOG,
^Agents.
J. T. MOLINEUX.j
de¬
' •'
'
•
;
The London City &
London Agency
Yard. Lombard St..
'
'
and the
4 George
NEW YORK OFFICE,
CHRISTOPHER R. NUGENT, Manager.
'
Midland Bank, Limited,
LONDON, E. 0.
Buy and Sell Sterling and Continental Exchange
and Cable Transfers; grant Commercial and Trav¬
elers' Credits, available In any part of the world:
Issue drafts on and make collections In Chicago ana
throughout the Dominion of Canada. * 1 ?
London Office. 47 Threadneedle St., E.
F. WILLIAMS TAYLOR, Manager.
Merchants’ Bank of Canada
London, England.
1
BANCO ALEMAN TRANSATLANTICO
‘(Deutsche Ueberseelsche Bank.)
With
In all the Principal Cities
Towns of England and Wales.
Branches
and
Telegraphic Address: Cinnabar, London.
SUBSCRIBED CAPITAL--
($7,143,000)
ESTABLISHED 1836
PAID-UP CAPITAL
M. 22,500.000.
($5,357,000)
RESERVE FUND
($1,625,000)
SUBSCRIBED CAPITAL, $95,741,700
PAID-UP CAPITAL,
19,946,187
30.000.000.
M.
-
6.827,000.
HEAD OFFICE
M.
RESERVE FUND,
17,951,668
-
-
Sir EDWARD H. HOLDEN. Bart.,
Cbirman and Managing Director.
BERLIN
Kanonlerstrasse 29 to 30.
1»; "
*i'« ; ’■>
f
ARGENTINA: Bahla-Blanca, Buenos Aires.
<
Cordoba, Tucuman.
*
BOLIVIA: La Paz, Oruro.
CHILI: Antofagasta, Concepcion, Iqulque,Osorno.
Santiago, Temuco, Valdivia, Valparaiso.
PERU: Arequlpa. Callao, Lima, Trujillo.
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
Bills sent for collection, negotiated or
C. J. CROOKALL. ]
147 branches In the Provinces of Quebec. Ontario,
Manitoba, Saskatchewan. Alberta and British
Columbia. Good facilities for effecting prompt col¬
lections in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—The London
-***'••
Drafts, cable-transfers and letters
of credit issued.
*
London Agents
MUNICIPAL AND CORPORATION
WOOD, GUNDY & CO.
Berliner
Handels-Gesellschaft,
CANADA
TORONTO
BERLIN, WM 64
Behrenstrasse 32-33 and
Franzoslsche-Strasse 42
Telegraphic Address—Handelschaft, Berlin.
W. GRAHAM
BROWNE & CO.
(>*’;• AVfrl i,
«;•$
DEUTSCHE BANK (BERLIN) LONDON AG’Y
GEORGE Y’D, LOMBARD ST.. LONDON, E.C.
CANADA
MONTREAL
ESTABLISHED 1856
Canadian Bond* Bought,
,«r>!
Direction der
Joint Stk. Bk.. Ltd.
Canadian Bonds
.
advanced upon.
*
HEAD OFFICE MONTREAL
CAPITAL
$6,000,000
Rest and Undivided Profits
4,602.167
NEW YORK OFFICE, 63 and 65 Wall St.
W. M. RAMSAY.
lAgents.
Branches:
l*
C.
HEAD OFFICE
5 Threadneedle Street,
'
-
Head Office—Montreal
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
'
CONSTANTINOPLE
12,000,000 00
PRQF^rS,
681,561 44
-
Rt. Hon. Lord Strathcona and Mount Royal.
G. C. M. G.. G. C. V.-0-— Honorary Presides
R. B. ANGUS. President.
Sir Edw. Clouston, BArt.-—V.-Pres. & Gen. Mgr
Per Cent.
Notice. 2 H Per Cent.
The Company discount^ approved bank
mercantile acceptances, receives money on
.
FRANKFORT-O-M.j
Deutsche Bank (Berlin)
3,750,000
2.900.000
At 8 to 7 Days’
BREMEN.
DRESDEN,
HAMBURG.^ LEIPSIC.
MUNICH.
NUREMBURG. AUGSBURG.
WIESBADEN,
BRUSSELS.
.$7,500,000
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call. 2 «
Branches:
i'
-
UNDIVIDED
.
n*pT8CHB BANK
The Union Discount Co. BANK OF MONTREAL
(Established 1817)
of London, Limited
CAPITAL paid in - - $14,400,000 00
Banking Transactions of Every
? v‘
•/
Jt b4
.lit.
Disconto-Gesellschaft,
Capital,
-
-
-
-
ESTABLISHED 1851
Reserve,
-
-
-
-
Sold and Appraised
Description
I
{, US M
gotcigtx.
M. 110,000,000
M. 34,500,000
VAN OSS A CO.
BERLIN W.. 43-44 Behrenstrasse
THE HAGUE,
HOLLAND
f £
V m" '
J f?
BREMEN. FRANKFORT-o-M., MAINZ.
Place American Investments in Europe
HOCHST-o-M.. HOMBURG v. d. H..
POTSDAM. WIESBADEN.
LONDON. E. C..
Swiss Bankverein
Schwelzerlscher
Bankverein
Bankverein
V
V
•.
A
.
■**"**■'
Tel. Address, Voco.
Coaes: Hartfleld’s Wall St.. W. U. & Lleber.
Suisse
53 CornhIU.
Basle, Zurich, St Gall, Geneva
CAPITAL, fully paid,
-
$40,476,200
Agencies at Rorschach, Chlasso
and Herlsau
M. 170,000.000.
RESERVE
-----
M.
$14,307,764
With the unlimited personal liability
''*
Lothbury, E. C.
LONDON OFFICE, 43
60.092.611.
of the following partners:
I
A. SCHOELLER,
M..SCHINCKEL,
E. RUSSELL.
F. URBIG,
Capital paid up, . Frs.62,800,000
Surplus, .... Frs.16,330,000
Hong Kong & Shanghai
BANKING CORPORATION
Paid-up Capital (Hong Kong Currency)....$15,000,000
Reserve Fund) In Gold.-.$15,000,0001
31.000.000
\In Silver.. .16.000,000/
■11 i . v?
Reserve Liabilities of Proprietors
15.000.000
GRANT DRAFTS. ISSUE LETTERS OF CREDIT.
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA. JAPAN, PHILIPPINES. 8TRAITS SETTLE¬
MENTS. INDIA.
WADE GARD’NER, Agent. 36 Wall St.
&
Dr. A. SALOMONSOHN,
Brasilianische Bank
fUr Deutschland
M. 10 000.000 00
CAPITAL
Head office: HAMBURG.
DE JANEIRO. SAO PAULO.
SANTOS. PORTO ALEGRE. BAHIA.
Branches:
RIO
Bank fur Chile und
Deutschland'
CAPITAL—10.000,000 00
HAMBURG. WITH BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA), ANTOFA¬
GASTA. CONCEPCION. SANTIAGO. TEMUCO.
VALDIVIA, VALPARAISO. VICTORIA; AND
-N" BOLIVIA (BANCO DE CHILE Y ALE-
BOLIVIANA), LA PAZ
J^NIA^^SEOdON
/
*
C.' V*
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■ ■■■<
i-
1
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LONDON AGENTS:
DIRECTION DER DISCONTO-GESELL¬
SCHAFT, M CORNHILL. E. C
Wiener Bank - Verein
The National Discount
Limited
Company,
iFo 1# 9
i cT
CAPITAL (fully paid)
35 CORNHILL.
RESERVE fUNDS
-
-
-
-
LONDON. E. C.
Cable Address—Natdls: London.
Subscribed Capi tal—Paid-up Capital
Reserve Fund
are as
-
$26,342,000
...
$7,900,000
(S9.000.000 crown.)
.————$21.166.625
4.233.325 HEAD OFFICE VIENNA (AUSTRIA)
2,200.000
Branches in Austria-Hungary
STERLING.)
A) yk t‘
- -
■ • *«.f.
'4
($5= £1
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
deposit
-
(130.000,000 crowns)
j
t
45" 2 -5
ESTABLISHED 1869
follows:
At Call. 2 H Per Cent Per Annum.
At 8 to 7 or 14 Days’ Notice. 2 H Per Cent.
Approved bank and mercantile bills discounted.
Money received' on deposit at rates advertised
from time to time and for fixed periods upon
specially agreed terms.
,
Loans granted on approved ne ot able securities
PHILIP HAROLD WADE. Manager.
Agram,
Aussig a-E.,
Bielitz-Biela,
Brunn, - Budapest, » Carlsbad, Czernowitz, Friedek-Mistek, Graz, Innsbruck
Klagenfurty Krakau; Lemberg, MarienMeran, Pilsen, Prag, Przemysl,
Prossnitz, St. Pol ten, Tarnow, Teplitz,
Teschen, Villach, Wr. Neustadt.
Branch in Turkey
Constantinople
bad,
Oot. 8 1»1«.J
THE CHRONICLE
Canadian.
BANK
IAN,
THE
OF.C
Hi
•*▼.
Mackay & CO.,
.
HEAD
OFFICE. TORONTO
110.000.000
PAID-UP CAPITAL
SURPLUS
0.000.000
—-
NEW YORK OFFICE:
Edward Sweet & Co.
Nos. 16 AND 18 EXCHANGE PLACE
Wm. Gray and G. D. Mackintosh. Agents
Members N. Y. Stock
.
Buy
and Sell
Sterling and Continental Ex
Credits.
Cable Collections
Commercial
fhanse
veler's
and
Transfers. made
at all points.
and
ra
I
■
Exchange
\
^
BANKERS
••
i
Members of the New York
’
Bankers & Brokers
Stock Exchange. .Dealers in
High-Grade Bonds and other
34 PINE STREET
Investment Securities. In¬
terest allowed on deposits.
Banking and Exchange business of evtry de¬
scription transacted with Canada.
LONDON OFFICE—2 Lombard Street. E.C
NEW YORK
BANKERS IN GREAT BRITAIN.
The Bank of England,
The Bank of Scotland.
Lloyd’s Bank. Limited.
Union of London and Smith’s Bank. Limited.
National
ESTABLISHED 1864
City Bank Building
55
Wall Street
NEW YORK
The Bank of
British North America
Established In 1838
Incorporated by Royal Charter In 1840
Pald-np Capital
Reserve Fund
ESTABROOK & CO.
£1.000.000 Sterling
£520.000 Sterling
—
^
$
f s
,
.
.
5*'”/
Electric
Light, Power and Street
Railway,, Enterprises with records
of
established earnings
v;
WE OFFER
15 State Street
24 Broad Street,
-
.
BOSTON
Bankers
NEW YORK
BALTIMORE
Proven
CHICAGO
J. J. REED.
,4 u ,;
R. L. DAY & CO
G. W. FARRELL. Secretary-Treasurer.
A. H. B. MACKENZIE. Manager.
NEW YORK
BOSTON
C. R. HOSMER
Capfc. D. C. NEWTON (Montreal)
H. ROBERTSON
C. B
Securities
BROADWAY
NEW YORK
HIGH-GRADE INVESTMENT BONGS
DIRECTORS.
ALFRED BAUMGARTEN
35 Congress St.
Utility
P.
Munloipal and Railroad
GORDON
#§in*** H
MONTFtEAl.
.
'it*in,
Member* Sea York and
Boston block Exchanges
BANKERS
Members of tbe New York Stock
.4.
24 Broad Street
NEW YORK
*■
**r
Colorado Spring*
COLORADO
Canadian
Investment Securities
59
ATJfWt:.
CORPORATION, LIMITED
94
£BOAO ST
NEW YOBJb
Toronto
Montreal
BEDEOBD
>•« i ? u
LIMITED
Agents
BOND DEPARTMENT
Canadian
-
Corporation Bonds
0ANADA
HANSON BROS.
Dealers In
Canadian Investment Securities
Ssnd for our circular airing detail*
MONTREAL
•
i.
*■ p
Exchanges.
Interest
A CUSH
on
Deposits Subject
to Check
Bigelow & Company
HAN KERR
49 Wall Street
35
New York
Congress St., BOSTON
BERTRDN, GRISCOM & JENKS
Land Title Bolldlng.
PHILADELPHIA.
40 Wall Street.
NEW YORK.
INVESTMENT securities
i** ■* u * /
Cheques and Letters of Credit
Alfred Mestre&Co
BANKERS
BANKERS9
%
MONTREAL
lamas St. Street
JL
Inviitminf Sacurltlaa
INVESTMENT TRUST CO,
Trustees-Transfer
Travelers
Members Boston and New York Stork
HUNT
•
NORWICH
London, EngV
THE
ENULANO
Electric Power Securities
_
NEW
%
London
BROKERS
BOSTON
DOMINION SECURITIES
Exchange
C~H3 0
Tiicker, Anthony & Co.
BANKERS &
rORRESPO.VDEXCE SOLICITED
Dealers
<**$• *.%■*&
71
37 Wall St.
Investment
ELECTRIC BOND & SHARE CO.
PiW-Up C*ph»l Md Surptui, *4,900,000)
I Ki
Vloe-President.
and
Public
Correspondence Solicited
Co., Limited
M Brokers aid Financial Agents
President.
>
i
n
......
■
,
INVESTMENT SECURITIES
HARTFORD
CHAS. MEREDITH.
v'
Members New York and Boston
Stock Exchanges
Head Office:
5 Gracechurch Street. London. E.C.
New York Office: 52 Wall Street.
B. M. J. McMICH AEL.l Agents.
W. T. OLIVER,
/
Buy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers' Credits, available In any part of the
Issue Drafts on and make Collections
world.
in all parts of the United States and Canada.
C. Meredith &
WE FINANCE
BANKERS
Meiftbeto of thd Nev York
Stock* Exchange.
in
Dealers
Municipal, Railroad and
Equipmhfrt BSddst
H. AMY & CO.
BANKERS
44 and 46 Wall Street, New York
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
Interest allowed
on
dei>osits
Subject to Draftr
37 WaU.8t>.
NEW yoke:
130 8
16th 8t.
PHILADELPHIA ’
▼I
THE CHRONICLE
[VOL.
LXXXXI
Stmfcjevs KU& lookers xrolside getw
PITTSBURGH.
LOUISVILLE.
PORTLAND, ORE.
INVESTMENT BOND8
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE. KY.
MORRIS BROTHERS
J. S. &W. S. KUHN
BANKERS AND BROKER8
We Buy and Sell
INVESTMENT BONDS
STREET RAILWAY SECURITIES
Incorporated
of
Pittsburgh, Pa.
A
James S. Kuhn,
i
L. L. M’Clelland.
President.
Sec. & Trea*.
PAID-UP CAPITAL. $500,000
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LOUISVILLE, KY
J. C. WILSON
HENRY
S.
Local Stocks
Taylor & Company
NEW YORK
IStock and Bond Exchange, S. F.
FRAZER
and
Bonds
AND
BONDS
NASHVILLE.
JOHN W. DICKEY
Wm. G. Hopper & Co.
AUGUSTA. GA
Investments receive our special attention.
In¬
formation cheerfully furnished yarding present
holdings or proposed Investments.
Southern
Securities
A CO.
WANTED
Offerings of Southern Bonds
and Stocks
WILLIAM
HUNTOON
E.
SOUTHERN
MUNICIPAL BONDS
CO.
James H. Adams & Co.
The? yield
the
THE ROBINSON-HUMPHREY GO.
NORFOLK, VA.
ATLANTA, GEORGIA
MOTTU & CO.
HILLYER TRUST CO.
BANKERS
AND BROKERS
Capital and Surplus, - NORFOLK, VA.
ATLANTA, GA.
-
a higher rate of interest than bonds
same merit issued in the East.
of
Correspondence Invited.
LOS ANGELES. CAL.
Joseph Ball Company
Orders executed for
the
purchase and sale of
BONDS AND STOCKS
Legal Bonds
Established 1892.
SAN FRANCISCO
Member The Stock and Bond Exchange
YIELDING 4M% TO 514%
PHILADELPHIA
Invite Requests for Information
CALIFORNIA BONDS
MUNICIPAL AND PUBLIC SERVICE
CORPORATION
ATLANTA
BONDS
Members Los Angeles Stock Exchange
433-434-435-436-437 SECURITY BUILDINO
$300,000
LOS ANGELES
BIRMINGHAM, ALA.
DENVER, COL.
WILLIAM R. STAATS CO.
Otto Marx &. Co.
CALVIN BULLOCK
Established 1887
BANKERS
AND
DENVER
BROKERS
CITY
TRAMWAY
BONDS
BIRMINGHAM, ALABAMA.
MONTGOMERY.
STOCKS AND BONDS
MEYER & GOLDMAN
STOCKS AND BONDS
B. W.
Strassburger
SOUTHERN INVESTMENT SECURITIES
MONTGOMERY, ALA.
OFFICES:
BIRMINGHAM, 1
MONTGOMERYJ
BALTIMORE
ALABAMA
COLSTON. BOYCE & CO
MEMPHIS.
Member. Baltimore Stock Exchange
JNO. L. NORTON
INVESTMENT BONDS
Local Stocks and Bonds.
86 Madison Avenue,
MEMPHIS,
TENN.
SOUTHERN SECURITIES
Established 1854
H. M.
25
PAYS0N & CO.
Investment Securities
PORTLAND
Chas. H. Payton
....
Geo. 3. Psyson
MAINE
Herbert Payeon
Municipal and Corporation Bonds
TO YIELD
4% TO 6%
Descriptive Circulars
on
Request
LOS ANGELES
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANGE
LOS ANGELES.
BUFFALO.
JOHN T. STEELE
BUFFALO, N. Y.
Government, Municipal
and Corporation Bonds
PROVIDENCE.
Buffalo and Western New York Securities
Richardson & Clark
ALBANY, N.Y.
Exchange Street, Providence, R. I.
Bonds, Stocks and Local Securities.
Private wires to Boston, Philadelphia
and New York,
’
PASADENA
SPECIALISTS IN
PORTLAND, MAINE
PACIFIC COAST SECURITIES
LOS ANGELES.
BUSH
AUGUSTA, GA.
Specialists in
;
INACTIVE SECURITIES
421 Chestnut St.. Philadelphia. Pa.
r ‘
Merchants’ Exch. Bldg.
H W Heilman Bldg
San Francisco.
Los Angeles.
Lumbermen’s Bldg.. Portland.
1st Nat. Bank Bldg.,
Philadelphia.
Building,
BONDS
Wakefield, Garthwaite & Co.
f PHILADELPIA STOCK EXCHANGE
MEMBERS] NEW YORK STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
Morris
BARROLL & CO.
We
Chestnut and Third Sts.,
&
LOS ANGELES
BROKER
STOCK AND BOND BROKERS
28 South Third Street,
PHILADELPHIA
E. B. JONES
Chicago and New York.
Branch. Coronado Hotel, Coronado Beach.
Correspondents,
Harris, Winthrop & Co., New York & Chicago
TENN.
AUGUSTA.
W. G. HOPPER.
H. S. HOPPER,^
Members of Philadelphia Stock Exchange.
&.
to
SAN FRANCISCO
Bankers and Brokers
STOCKS
PHILADELPHIA.
REED
Private Wire
THOS. PLATER & CO.
Singer Bldg.
W. SPARKS
MEMBER]Chicago Board of Trade.
INVESTMENT SECURITIES
INVESTMENT SECURITIES
J.
fNew York Stock Exchange.
NASHVILLE.
PITTSBURGH, PA.
,„d
SAN FRANCISCO.
STOCKS AND BONDS
INVESTMENT SECURITIES
Union Bank Building,
PITTSBURGH
BONDS
John W. & D. S. Green
SECURITIES.
268 Fourth Ave.
Municipal and Corporation
Specialty
PACIFIC COAST SECURITIES A SPECIALTY
Mcoibcrs
New York and Pittsburgh Stock Exchanges
and Chicago Board of Trade
H. P.
PHILADELPHIA
NEW YORK.
Correspondents: WALKER BROS., 71 B'way. N, Y.
CHILDS & CHILDS
INVESTMENT
PORTLAND
PETER J. CALLAN
INVESTMENT BANKER
Local, Listed and Unlisted
STOCKS AND BONDS
REAL ESTATE
O0T. 8 1910.]
THE CHRONICLE
attd
Stakew outside gtur fnfc.
CHICAGO.
iyxn<vuiririivuvv‘i"
YII
SI
,a,***********^<***^^^
CLEVELAND.
LOUIS.
FRED. S. BORTON
T. E. BORTON
R. C. ENWRIGHT
GREENEBAUM SONS
BORTON
BANKERS
LISTED AND UNLISTED
A. G. EDWARDS
Gbleago First Mortgages and Bonds for sale.
Letters of Credit for travelers, available In
all parts of the World.
BORTON
INVESTMENT SECURITIES
Cinw Clark and Randolph Streets. Chicago.
High-Grade Investment Securities.
&
SO NS
STOCKS AND BONDS
OP CLEVELAND AND NORTHERN OHIO
One Wall Street
MEMBERS CLEVELAND STOCK EXCHANGE
In St. Louis at 410 Olive Street
GUARDIAN BUILDING
A General Domestic and Foreign BanklngBuslness.
Correspondence Solicited.
Bend Jot our latest lists of Securities.
Hayden, Miller & Co.
Sanford F. Harris A Co.
Shreveport Bridge & Terminal Co.
DIVESTMENT SECURITIES
First 5$, due 1955
THE
ROOKERY
Yi.ld
CHICAGO
Investment Bonds
Citizens' Building.
5%
CLEVELAND. OHIO
INDIANAPOLIS.
MAAAAAAAAAAAAAAAAAAAAAAAA^M^M^VV^M^^WMAAAAAA^^^VWVWM
Joseph T. Elliott & Sons
A. O.
BANKERS & BROKERS
139 MONROE STREET.
CHICAGO,
New
New
New
New
hers:
Investment Securities
Slaughter & Co.,
ILL.
Members Indianapolis Stock Exchange
American Nat. Bank Bldg.,
WHITAKER
York Stock Exchange.
York Cotton Exchange.
York Coffee Exchange,
York Produce Exchange.
Chicago Stock Exchange.
Chicago Board of Trade,
St. Louis Merchants’ Exchange.
Allerton, Greene A King
& CO
NEWTON TODD
High Grade
I WILL BUY AND SELL
Missouri & Illinois
INDIANA TRACTION SECURITIES
Fletcher Rank Rid.
Municipal Bonds
To
THE ROOKERY. CHICAGO
Circular
RAILROAD. MUNICIPAL AND
CORPORATION BONDS
List
300 N. F0USTH ST.
•
Engineers, Contractors
ST. LOUIS
43-49
(INCORPORATED.)
COMMERCIAL PAPER
William R. Compton Co
Mohts.-Laclede Bldg.
ST. LOUIS
Investigations and Reports on Electric
Gas Electric Uirfit and Power
205 LaSalle Bt
OHIOAOO
Properties. Irrigation Systems, ftc.. for
Financial Institutions and Investors.
Electric
Railways, Electric Light and Power
MUNICIPAL
and other
HIGH-CLASS BONDS
Jo G. WHITE & CO,, Limited,
9 Cloak Lane. Cannon St.. B. C.
London Correspondents:
DEALT IN
INVESTMENT 00.
KANSAS CITY. MO
San Francisco, Cal.
Plants, Gas Plants, Financed,
Designed and Built
KANSAS CITY, MO.
McCRUft
Exchange Place. NEW YORK
Chicago, Ills.
Railway
8. W. Cor. Monroe ft La Salle Sts.. Chicago.
H.
I. G. WHITE & CO.
application
Application
on
A. G. Becker & Co.,
W.
on
INDIANAPOLIS
Ungtneevs.
43^2% to 5%
net
INDIANAPOLIS
CIRCULARS AND LIST ON APPLICATION
Kimm City Ry. A Light Issues.
Western Municipals.
Local Securities.
C. G. YOUNG
Engineering and Construction
Plans,
CINCINNATI.
Methods,
SIXTY
WALL $T„
Operation
PnMic Utilities and Industrials
WEIL, ROTH & CO.
SAINT PAUL
Twin City Rapid Transit 5s. 1928
Minnesota Transfer Ry. 5s. 1916
8t. Paul Qas Light Co. 5s. 1944
City of St. Paul 4 Ms
Twhn City
“
Telephone Co. 1st 5s
'
Dealers in
NEW YORK
Reports for Financing
“
Correspondence Invited
Edwin White & Co.
State Saving* Bank Bldg., St. Paul
MINNEAPOLIS.
Stevens9 Chapman & Co.
BONDS
MINNEAPOLIS—ST. PAUL
M. St. P. ft S. Ste. Marie 4s
Dntath Mlssabe ft Northern 6s
Snath Dakota Central 5s
Minnesota ft Ontario Power 6s
WELLS & DICKEY & CO
MINNEAPOLIS. MINN.
A
CORPORATION BONDS
Mem. Am. Sec. C. E.
for Investment
on
all Northwestern Securities
MUNICIPAL
High-Grade Bonds
CHICAGO
H. U. WALLACE
CINCINNATI
EDGAR
FRIEDLANDER
Ex-Supt.
DEALER IN
Cincinnati Securities
CINCINNATI.
OHIO
50% Stock Bonus
Write for particulars
JOHN
A.
BURGESS
Member Rochester Stock Exchange
194-105 Wilder Bldg. ROCHESTER N. Y.
CHICAGO ILL.
Marquette Bldg.
Robert McF. Doblo
Wilkinson
ALBERT P. MILLER Jr. Associated Engineers Co.
INDUSTRIAL TRUST CO. BUILDING
PROVIDENCE, R. I.
Construction, Operation
Enterprises
a Specialty
Irrigation
Examinations. Reports
otWVEK
*17 Centurr Buildn g
Local Securities
COLO.
mstablaned 1S89.
Qas, Electric Lighting & Railway A.
Bonds and Stocks
L.
REGISTER
Successors to Pepper
&,
CO.
ft Register
EN6INEERS & GENERAL CONTRACTORS
11, North Broad Stmt
BODELL
High Class 6% Bonds
Illinois Central RR.: Chief Engineer
Illinois Central RR.; and Gen’l Manager Chicago
Lake Shore & South Bend Electric Railway.
fldwond C. Van Diest
Thomas L
PROVIDENCE.
Twin City Rapid Transit System Bonds
Minneapolis National Bank Stocks
ROCHESTER, N. Y.
ENGINEER
Examinations, Reports, Surveys, Supervision of
construction and operation of Electric and Steam
Railroads, Power Plants, Transmission lines.
Central Stations and Irrigation projects, &c.
&
CO.
Philadelphia.
fKUittng UngtncKKS.
206 TO 209 BANIGAN BUILDING
PROVIDENCE
H.
M. CHANCE
Consulting Mining Engineer and Geologist
Bonds and
Preferred Stocks
of Proven Value.
OOAL AND MINERAL PROPERTIES
Examined, Developed, Managed
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THE CHRONICLE
Till
was
gatt&fcrs and
'J‘
■
t
ERVIN & COMPANY
j
Ai B. Leaeh & Co.,
NATIONAL BANK
OF CUBA
BANKERS
BANKERS
Members
149 Broadway, HEW YORK
(New York 8tock
jphila
nnllViWoRr- 1W932 31
32
Exchange,
Exchange.
elphia
BONDS FOR INVESTMENT.
140 Dearborn Street, CHICAGO
Drexel Building,
PHILADELPHIA
-
-
900,684 60
8.681,379 19
Branches
*
Long Distance Telephone No. L. D. 107.
PARKINSON &, BURR
PRODUCE EXCHANGE, HAVANA
CARDENAS.
MATANZAS.
CIENFUEGOS,
SANTIAGO,
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CAfBARIEN.
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SANCTI SPIRITUS.
CAMAJUANI,
CRUCES.
CIEGO DE AVILA.
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
-.
C L HUDSON & CO.
,
7 Wall Street
63 State Street
NEW YORK
BOSTON
*
a
-
84 GALIANO ST.. HAVANA.
226 MONTE ST.. HAVANA.
BANKERS
Mai. 34-36 WALL ST., NEW YORK.
-
HEAD OFFICE—HAVANA
Philadelphia.
28 State Street, BOSTON
Chertnnt & 4th St.,
Assets
Gash in Vaults
■ambers New York and Chicago Stock Exchanges
Collections
Specialty.
a
Sole Depositary for the Funds of the Republic of
Cuba
Member American Bankers’ Association
Cable Address—Banoonao
760 Main Street
HARTFORD
TELEPHONE 8070 JOHN.
BANK
Miscellaneous Securities
E. W. CLARK & CO.
in all Markets
OF
HAVANA
76 CUBA STREET
BANKERS,
WIRES TO
PRIYATE
PRINCIPAL CITIES.
CARLOS DE ZALDO, President
JOSE I. DE LA CAMARA. Vice-President
PHILADELPHIA
321 Chestnut St,
Thomas L. Manson&Co.
Members Phila. and New York Stock Exchanges.
Interest allowed on deposits.
John E. Gardin l
Alvin W. KrechVNew York Committee
James H. Post J
New York Correspondent.
STOCK BROKERS
W
.'
A,
*
Members N.
100
j
and Boston Stock
Y.
Broadway,
.
Members N. Y. Stock Exchange
111
Private wires to Boston. Hartford, New Haven
and Philadelphia
t
BANKERS
• NASSAU STREET, NEW YORK.
Established 1865
MBMBBRS OF N. Y. STOCK EXCHANGE.
AUew Interest on deposits subject to sight check.
Bay and sell on commission stocks and bonds, and
v
General Banking and Stock
Exchange Business.
a
Norman S. Walker Jr.
%
Members New York Stock Exchange
J. S. Farlee.
MEMBfiRS
BANKERS AND BROKERS.
No. 10 WALL STREET.
^ ^
Members N. Y. and Phila. Stock Exchanges
Orders for Stocks and Bonds executed upon ah
Exchanges In this country and Europe.
Especial attention given to supplying hlgh-olas»
INVESTMENT SECURITIES.
Interest Allowed
on
■
'g
1863
r
Effingham Lawrence & Co.
/•
%
*
■*.
**
11 WALL ST.. N. Y.
-
t-
,
Members
New
WILLIAM
Stock
York
InvMt^ilfii
ST
/,
f.
i
Exchange.
Saourltlaa
STREET
NEW
B.Colgate ft Co.
^
N. Y. 8took Ex.
YORK
Investment
Simpson, Pearce & Co.
(
>
■**
v
x.
Bonds.
VICKERS A PHELPS
>
Members New York Stock
Telephones
BONDS
Gash orders only in stocks accepted
W. H. Goadby & Co*
Bankers and Brokers
rr
DEALERS IN
Honda end Quarantetd Stooke
_
WEBB & CO.
INVESTMENT SECURITIES
4490-1-2-S-4 Rector
NEW YORK
74 BROADWAY
BttabUflbed IB,4
*.
•
•
•
NEW YORK
Telephone 2817 Ih*.
Exchange
INSURANCE STOCKS
111 BROADWAY
NEW YORK
Fldallty, Phoenix, Homo,
Niagara, Contlnantal, Ao,
BOUGHT AND SOLD
89 Wall Street. New York City.
Members of New York Stock Exchange
NO. 74 BROADWAY,
NEW YORK
" — r—■—
86 Wall Street. New York.
Haakbeti
III BROADWAY,
..
1910
Ju.
BANKERS
Orders Executed in all Markets.
D. ft Schmidt & Co.
-
Exchange
Members N. Y. Stock
SECURITIES
\-j4t
\
HARTFORD. CONN.
.
Deposits Subject to Checks
1
—
W. S. Tar bell.
NEW YORK STOCK EXCHANGE.
Brokers and Dealers in
INVESTMENT
%•
JOHN H. DAVIS A. CO.
MEMBERS
SECURITIES
H. L. Finch.
Philadelphia
NEW YOBK STOCK EXCHANGE
PHILADELPHIA 8TOGK EXCHANGE
J. S. FARLEE & CO.
NEW YORK
.
104 $0UTH FIFTH ST.f
J
*
INVESTMEMT
MEMBERS N. Y. STOCK EXCHANGE
-
Bonds, Investment Securities
Members N. Y. Stock Exchange
William Herbert & Co.
jFlMM STREET,
Stocks
71 BROADWAY, N. Y.
SaonrUies Bought A Sold on Commission
11
MELLOR & PETRY
John Y. G. Walker
WALKER BROS.
U WALL STREET. NEW YORK
Building
Time Deposits and Savings Accounts.
Accounts of Banks, Finns. Corporatkms and Indhrldnals
solicited.
VVe are prepared to furnish depositors
every facility consistent with good banking.
Ex. Norton
Campbell & Co.
Hanover Bank
OFFICERS
W. M. Ladd, President.
R. S. Howard Jr., Asst.Cash
B. Cooklngham, V^Pres. J. W. Ladd, Asst. Cashier.
W. H. Dunckley. Cash.
Walter ft. Cook. Asst. Cash.
Interest paid on
MEMBERS N. Y. STOCK EXCHANGE
James G. MaoLean
H. G,
Established last
24 NASSAU STREET
GUARANTEED 8TOOK8
BANK
OREGON
-
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
HENDERSON & COMPANY
Transact
Edwin P. Campbel
&. TILTON
PORTLAND
McCURDY,
RAILROAD BONDS
■anvy G. Campbell
LADD
Broadway
NSW YOBK CITY
A. M. KIDDER & CO.
,
Capital, $1,000,000
SCHMIDT & GALLATIN
Tel. 1500 Sector
i»
Acts as Caban correspondent of American
banks and transacts a general banking business.
J. Prentice Kellogg
William A. Larned
Chas. H. Blair Jr.
Frederic Gallatin Jr.
Albert R. Gallatin
Exchanges.
NEW YORK
-
George P. Schmidt
.-r
.
'
»
E. & C. RANDOLPH
Members
Ill
New
York
Broadway.
Stock
New
Exchange.
York.
Open Market Securities Department
HORACE HATCH, Manager.
Dealers In Investment and Other Securities of the
United States and Canada *
E.VS. BAILEY
NEW
69 BROADWA
»
YORK
EDWIN R. CASE
NEW. JERSEY SECURITIES
No better State i,
■
*
„•
.No better Securities
15 EXCHANGE PLACE.
Teis. 866 and 751
JERSEY CITY
Oct. 8
1*111.]
THE CHRONICLE
fwenmt
ix
1««<1 |tu|tiiKtit*
WANTED
Cumberland Telephone &
Sft*
Telegraph Co. Stock
dDiti^jens Central
BOUGHT AND SOLD
fjatimml gauk
of
GOULDING MARR
Hew gotfc
Broker
NASHVILLE,
330 BROADWAY
TENN.
-
-
Alfred Light & Power 5s
Chic. & Miiw. Breweries Stock
York Haven Water Power Co. 5s
H-0 Co. Subordinate Lien 5s
Delaware (O.) Water Co. 6s
Omaha Water Co. 5s & Stock
New Hamp. Elect. Ry. Stocks
Public Wat. Sup.Co.Ottumwa Stk
Council Bluffs Water=Wks.Co.6s
f
Newark (O.) Water Co. 6s
Herring-Hall-Marvin Safe Stock
H
£4will S. Schenck. President
Francis M. Bacon Jr.. Vko-Prestdaat
Specialists In Inactive Bonds.
MUNICIPAL
RAILROAD
Albion K. Chapman. Cashier
Jesse M. Smith. Asst. Cashier
BONDS
to
6%
CORPORATION
James McAllister. Asst.
Cathie,
W. M. Haines. Asst. Cashier
C. Splller & Co.
*7 State street
Boston
FOR SALE
Springfield Fire & Marine Ins. Co
•elected for Conservative Investors.
Waltham Watch Pfd.
American Caramel Pfd
Dartmouth Mfg. Com.
Pope Mfg. Com.
American Glue Com. & Pf.
Douglas Shoe Pfd.
Nashawena Mills
Coastwise Transportation
Boston Sec’s Com.
Massachusetts Lighting Co.1
U. S. Worsted Pfd.
Columbian Nat’l Life ms. Co.
American Investment Sec’s Pfd.
Great Western Power 5s, 1946
Hudson River Elec. P. 5s, 1944
Atlanta Birm. & Atlantic 5s, 1936
-
Lists Mailed Upon Application.
Capital
$2,550,000
Surplus and Profits $1,600,000
Lawrence Barnum & Co.
BANKERS
Et-2*
PINE
STREET,
°hila<lelphi8
Michigan State Telep. 5s & Stocks
Guanaj. Pow. & Electric 6s & Stocks
Bigelow Carpet
BOSTON
First Nad. Bank Bldg
F W. MASON & CO.
We offer for Investment
Securities of
Public Service Corporations
under the management
of our organization
to
WANTED
Ft. Smith Lt. & Traction Co. 1st 5s
Fresno (Cal.) Water Co. 5s
Qlens Falls (N. Y.) Gas & Elect. Co. 5s
FOR SALE
Great Northern Power Co. 1st 5s
University City Realty Co. Stock
C. H. FARNnaM
yield
27 STATE
5% to ey2%
Our Manual
STREET. BOSTON
New York State Railways, common
Mohawk Valley Go.
City Investing Building
Broadway
M WALL STBBBT
INDUSTRIALS
Tribune Budding. 154 Naeean Street.
Telephone 4S1S Beckman.
NEW YORK. N. T
STUART
Telephone,
15f Rector
WANTED
Grand Rapids Ry. Co. 1st M. 5% Bonds, due 191<
OFFER
St. Joseph
1st Mortgage 5% Bonds
Railway LJght.^ Heat^ & Power Co
Sutton,
StrotherStreets
& Co.,
Calvert
and German
BALTIMORE
York City
Satisfactory References
Exchange
Specialize in Securities of
Temple Iron
■dots Throwing
U
New River
Chicago Subway
S. Lumber
Scranton Railway
Scranton Electric
Pa. Coal R Coke
Pa. Cent. Brewing
Northern Bee trie
Scranton Gaa a Water
New Mexico Ry.A Coal Paint Creek Collieries
* W. V. R. T. W. B. a Wyo. V. Tree.
Spring Brook Water
US So. 5th St..
71
LOUISVILLE. KY.
Broadway
NEW YORK CITY
a
BANKFR8
George B. Atlee & Co.
Bankers
119 S. Fourth St.
4Z3 Sanies St.,
Northern States Power Co.
Denver Gas & Electric 5§
Northern Idaho A Montana Power Co.
JAMES N. WRIGHT & CO
DBNVKK, OOLO.
Union Utilities Company 1st Mtge. 5s. 1944
Detroit & Pontiac Railway Cons. 4Hs, 1926
Spokane Terminal Railway Co. 1st 5s. 1917
Atlantic City Gas Company Stock
SAM U ELK. PHILLIPS A CO.
421 Ctiotmrt St
Philadtlphla
Members
of Philadelphia Stock
Correspondents? EDWARD B. SMITH a CO..
tt Pint St.. New York City.
Exchange.
"We desire offerings of free of
tax bonds
in the State of
CO.,
See. Nat Bank Bldg*
WILKES-BARRE, PA
Philadelphia
Nevada-Califoraia Power Co. bonds and stock
Denver & N. W. Ry. 8s and stock .»•
Pennsylvania
EMBERS NEW YORK STOCK EXCHANGE
Negotiations,invesUgations.Settlemente SCRANTON. PA
In or out of New
ALL LOUISVILLE LOCAL SECURITIK*
MALCOLM
BROOKS
GEO. B. EDWARDS
Railway, Gas A Electric
Railway, Light A Power
Memphis Street Railway
WE OFFER
Member* of Baltimore Stack
C. B. Van Nostrand
Union
Portland
LINDSEY WATER COMPANY
First 5s, 1919, Underlying 2d Mtge. Bonds
Audits and examinations.
Building. Chicago
FRANCIS, BRO. & CO.
Stocks and Scrip.
SO Broadway,
NSW TORE.
Telephone 6780 Cortland.
New York Lift
DEALT IN BY
S. C. HENNING & CO
COMPANY
OF NEW YORK.
WESTERN OFFICE
Laclede Gas Oo. of St. Louis Ref. 6a
Kan. 0. Ry.& Lt. 6s & Underly. Sec’s
Municipal and Corporation
Bought and Sold
AUDIT
Financial and cost systems of acoounte
Rys. of St. Louis 4s
Union E' Lt.& P. Oo. of St.L. 1st 6s
Union El. Lt.& P. Go. of St. L. Ref. 6s
Laelede Gas Oo. of St. Louis 1st 6a
Stocks and Bonds
request.
Appraisals of values of lands, buildings
machinery, etc.
United
Michigan
Railroad,
Detroit, Michigan.
165
INVESTMENT SECURITIES
53 STATE ST.. BOSTON
Telephone 3448 Main
214 North 4th Street, ST. LOUIS
WM. HUGHES CLARKE
THE
HOTCHKIN & CO.
(ESTABLISHED 1877)
describing these companies will be seat
upon
Pittsburgh
Ft. Smith Lt. & Traction 5s
14T Milk Street.
CHICAQO
YORK
Sheboygan Lt. Ppwer & Ry. 5s
Guanaj. Red. & Mines 6s & Stock
Great Northern Ry. of Canada 4s
Stone & Webster
t Nassau Street
NEW YORK
NEW
Washington
WU RT3, DULLES &> CO.
IMS
FOURTHS!-..
PHILADELPHIA
Telephone Lombard 1060-1061
[VOL. LXXXXI
THE CHRONICLE
X
f&nxxtvX gxrtxtf
United Electric Co* of N* J.
Mobile & Ohio, St. Louis & Cairo Coll. 4s, 1930
Fonda Johnstown & Gloversville 4J^s, 1952
Pere Marquette Cons. 4s & Refg. 4s
Texas & New Orleans Cons. 5s, 1943
Louisiana & Arkansas 1st 5s, 1927
Gulf & Ship Island 1st 5s, 1952
First
BOUGHT AND SOLD
This company serves a population
of about 1,000,000, "including the
cities
of Newark,
Jersey City,
Augusta Terminal 1st 6s, 1947
Hoboken, Elizabeth, Bayonne, the
Oranges and Montclair.
Hudson River Water Power 5s
Wabash Equipment 5s, 1921
Central Vermont 4s, 1920
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
BROAD
NEW
STREET,
BANKERS
44 PINE STREET. NEW YORK
Members New York Stook
Central Pacific 3y2s
Pan-American 5s
Mason
LIBBEY A STRUTHERS
A. A
LISMAN A CO
,
25 Broad St.. New York
New Haven 6s
Houston & Texas Cent. 4s
Canton (O.) Electric Co. 5s, 1937
Canton (6.) 6% Preferred Stock
Lansing Fuel & Gas 5s, 1921
Portland (Me.) Electric Pref. Stock
Seattle Lighting Co. 6s, 1920
H. L. NASON & CO.
Shawmut
Bank
BOSTON,
Building.
MASS.
Rio Grande West 1st 4s
Interboro
Ry. 5s
WANTED
T. W. STEPHENS & 00
BANKERS
2 WALL STREET.
NSW TORS.
WE BUT AND SELL
GEORGIA STATE AND MUNICIPAL
BONDS
INVESTMENT
BONDS
Interest allowed
H.
J.
HILSMAN
tb CO.
Individuals and
accounts of
on
Corporations
EMPIRE BUILDINQ. ATLANTA. OA.
We offer
Atchison adjustment 4s
Chicago & Western Indiana 4s
FERRIS tb WHITE,
Tel. 6527-8 Hanover
87 Wall St.. N. Y.
WE WAN! TO BUY
Somerset Coal 5s
Fairmont Coal 5s
Wladikawkas Ry. 4s
Western Electric 5s
Wheeling & Lake Erie Equipment 5s
Niagara Falls Power 5s & 6s
Mtge. 5% Sink. Fund Gold Bonds
due November 1st 1954.
Price 90 & int.
Yielding 5.60%.
Private
NEW YORK
S4 Pine Street
Baldwin Locomotive Works 1st 5s. 1949
Allentown Gas 5s. 1924
Chester County Gas 5s. 1925
Harrisburg Gas 5s. 1928
Peoria Gas & Electric 5s, 1923
Rochester Gas & Electric 5s. 1912
Syracuse Gas 5s, 1946
Rochester Railway 5s. 1930
Members of the Philadelphia Stook Bxel
Telephones, J Bell-Spruce 21-31.
I Keystone-Race 808
Chicago & Nor. West. 7s, 1915
Chicago & West. Indiana 6s, 1932
Chicago & Pacific Western 5s, 1921
Oregon Short Line 5s
Wire
4
BOSTON
50 State Street
BLAKE & REEVES
Public
Utility
BONDS
Investment Bonds
Pingree, McKinney & Co.
K. B, WADE
Tel. 6744 Hanover
34 Pine Street, New Yosfc
Tel. 1504 John
Railroad and Other
C
Boston
50 CongreM
WE ARE IN THE MARKET FOR—
Telephone 2417-8-9 John
80 Broadway, New York
Baker, Ayling & Company
New York
80 Broad Street
BURGESS. LANG A GO.
BECKER & CO.
BONDS
Plattsburg Gas & Electric Com.
Plattsburg Gas & Electric Pref.
FREDERIC H. HATCH & CO.
Power Co*
First
Adams Express ,
American Brass
Hood Rubber
Lord & Taylor Pfd.
West End Trust Bldg.. Phlla., Pa.
Niagara Lockport & Ontario
National Bank of Cuba Stock
Tel. 985 Reotor
50
100
50
100
100
50
REED A. MORGAN & CO..
$25,000
Exempt from taxation in New York State
J. H
400 Chestnut Street. Philadelphia.
Kan. City Ft. Scott & M. Ref. 4a
West Penn. Ry. 1st 5s
Wilkes-Barre & Wyo. Val. Tract. 0a
Mt. Washington St. Ry. 1st 5s
Choctaw Okla & Gulf Consol. 6a
Easton & Northern 1st 4>£s
Western N. Y. & Penn. 1st 5s
Manufacturers’ Water Co. 5s
NEW YORK
Tal. 5950 Broad
Robt.Glendinning &Co.
55 Cedar Street
City & Fort Dodge 4s
Short
SUTRO BROS. & CO.
YORK
Land Title & Trust Oo. Building, PHILADELPHIA
89 Pearl Street, HARTFORD
St. Paul C. & P. W. 5s
93 Bread Si., New 7m*
Chesapeake & Ohio Cons. 5s, 1939
Chicago St. Louis & New Orleans
5s, 1951
J. USMAN & COMPANY,
30
Tal. 100 Bread.
Atchison Trans-Continental
Line 4s, 1958
AND ALL OTHER SECURITIES DEALT IN
F.
^
G. W. Walker & Co.
New York Dock 5s, 1951
Bush Terminal 4s & 5s
.
Mtge. 4s, due 1949
49 Wall Street.
B. & O.
43^% Notes, 1913
Tidewater Co. 6% Notes, 1913
8
Congress Street,
Boats*
Realty Associates
Metropolitan Bank
Coal & Iron National Bank
BOSTON
Philadelphia
Providence
CURTIS & SANGER
Members N.Y..
Boston
Boston & Chicago Stook Exchanges
49 Wall Street
NEW YORK
Chlcaeo
LUTZ
&.
COMPANY
Bank and Trust Co. Stocks.
26 Broad St.,
N. T.
Tel. 273 Broad.
OOT. 8
THE CHRONICLE
1910.]
©ttreenl
Van Norden Trust Oo.
JSond gitcptixie*.
I
y^>jxrxrX'VrVV~V/V~U%A/VV~i,^«~^*\.~><*^fVn_r><~>
stock
1916
Co. of Utica gen. 6s, 1930
Practical Investments,
General Rubber Co. 4>£s,
Cons. Water
Mex. Intemat. 1st 4s, 1977
(stamped)
business man or those who desire to invest surplus funds safely and
advantageously, should fulfil certain fundamental requirements. The investor should have
Suitable for the average
assurance:
1st—As to the safety of the money Invested, which depends upon the credit of
the Company Issuing the obligation and upon the underlying security.
2nd—As to the continuance of Interest payments, which depends upon the earn¬
Railroad Securities 4s, 1962
West. RR. 5s, 1940
Saratoga Association Stock
N. Y. Susq. ft
ing capacity of the Company.
3rd—As to his ability to liquidate the Investment before
which depends upon the market and the stability
Glide, Wlnmtll
&Co.
BANKERS
20 BROAD
STREET, N. Y.
Telephone 446-6-7 Rector
Pitts. Cin. Chic. ft St. L.
xi
4J^s, Ser. A
maturity, If necessary,
of price.
We have prepared a list of carefully chosen bonds which we can recommend for personal
investment, and which yield at present prices a liberal rate of income.
Circular No. B-7 will be sent upon request.
Guaranty ofTrust
Company
New York
Kentucky Central 1st 4s, 1987
Wheel. & L. E., Wheel. Div. 6s, 1928
Wheel. & L. E. Ekt. ft Impt. 5s, 1930
Ches. ft Ohio Cons. 5s, 1939
28 Nassau
Street, New York
Branch Offices
33 Lombard St., London, E. C
6th Ave. ft 43d St., New York
Wabash, Det. ft Chic. 1st 5s, 1941
NEWBORG & CO.,
MEMBERS N. T. STOCK EXCHANGE
60 BROADWAY.
telephone 4360 Rector,
N. Y.
Cable Address,
••NEWROSE”
PRIVATE WIRE TO ST. LOUIS
OFFERINGS WANTED
Evansville Gas & Elect. 1st Mtge. 5s, due 1932
Decatur Ry. & Lt. Co. 1st Cons. 5s, due 1933
Danv. Urb. & Champ. Ry. 1st M. 5s, due 1923
R. M. STINSON &COMPANY
PHILADELPHIA
North American Bldg.,
Stock Exchange
’Phones Bell Walnut 22-90
Keystone Race 4-99
J. K. Rice, Jr. & Co.
50 American Caramel Common
53 American
100
Members Philadelphia
B. & O., P. L.E.&W.Va. Ref. 4s,
Buffalo & Lake Erie Traction 5s,
1941
1936
Chicago Subway 5s, 1928
Illinois Tunnel 5s, 1928
K. C. Ft. S. & Memphis Ref. 4s, 1936
O’Gara Coal 5s, 1955
Penn. Coal ft Coke 5s, 1953
SchwarzSchild ft Sulzberger 6s,
Western Pacific 5s, 1933
1916
Westingh. E1.& Mfg.Co.Conv.5s,1931
Tenn. C. & I., Term. Div. 6s, 1917
Columbus ft 9th Ave. 5s, 1993
Kings Co. El. Lt. ft Power 6s, 1997
Syracuse Gas 1st 5s, 1946
Westchester Lighting 1st 5s, 1950
BANKERS
NEW YORK
I Nassau Street
St. Paul Chic. Pac. West. 5s, 1921
Cent, of Ga. RR. ft Bkg. Co. 5s, 1937
Flint Pere Marquette Cons. 5s, 1939
Montana Central 5s, 1937
Cin. Dayton ft Ironton 5s, 1941
EYER & COMPANY
Tel. 7750 1-2-3 Hanover
NEW YORK
ST Wall Street
DOUGLAS FENWICK & C0.
31
50
J. K. Rice, Jr. & Co.
Lehigh Valley Terminal 5s, 1941
Louisville & Nashville unif. 4s, 1940
Erie RR., Long Dock Co. 6s, 1935
Edison Elec. Ilium, of Brooklyn 4s, 1939
N. Y. Lake Erie & Western 7s, 1920
Central Ohio cons. 4Ks, 1930
Northern Ohio 1st 5s, 1945
Worcester Consol. St. Ry. deb. 4Hs, 1920
N. Y. Susq. & Western Ref. 5s, 1937
Erie RR. Consol. 7s, 1920
3o$ei>l>malkers$on$
Members New York Stock
20
Broad
Exchange,
St.
New
York.
Private wire to Philadelphia.
Coffin & Company
NEW YORK
1937
Fourth National Bank Stock
1996
Western North Carolina 6s, 1914
N.Y.Cent. Lines Equip. Tr.4^s ft
5s
FREEMAN 4bCOMPANY
34 PINE STREET. NEW YORK
Telephone 6039 John
The reasonable assurance of large
be made in the
GILMAN & CLUCAS
5s
Reading General 4s
Nickel Plate Deb. 4s
B. ft O., Pitts. L. E. & W. Va. 4s
N. Y. Ontario ft Western Ref. 4s
O. B. ft Q. General 4s
Ogdensburg ft Lake Ghamplain 4s
Denver ft Rio
84 Pine Stree
NEW YORK
1st Nat. Bank Bldg..
NEW HAVEN. CT.
Seaboard Air Line
profits to
New
PORCUPINE
gold fields make it good business to invest a
rtion of your surplus in sound enterprises
WARREN, GZ0WSKI & CO.
Equipments
Equipments
York Central Equipments
Missouri Pacific
Hudson ft Manhattan Securities
Florida East Coast 1st 4^s,
1959
WOLFF & STANLEY
27 William St.. N. Y
Tel. 6557 Broad
25 Broad Street, New York.
Toronto.
Equipment Bonds and Car Trusts
Swartwout &
Appenzeilar
GEORGE L. WARE
53 State
Street, BOSTON, HASS.
BANKERS
Telephone Main 984
44 Pine Street
NEW YORK CITY
We offer a 6% Preferred Stock with a
bonus in Common Stock of a Holding
Company operating gas, electric light
and street railway properties in five
States.
Actual earnings for past year
over 5% on the common stock.
LAMARCHE A COADY,
Tel. 5775-6 Broad.
26 Brmd St., N. T.
Jersey City Hob. ft Pat. St. Ry. 1st 4s
North Jersey St. Ry. Co. 1st 4s
United Electric Co. of N. J. 1st 4s
N. J. ft Hud. Riv.
Ry.ft Fy. Co. 1st 4s
W. E. R. SMITH & CO..
20 Broad 8treet
Philippine Railway 4s
Norfolk & Western, Pocahontas Coal & Coke Jt.
Pere Marquette Refund. 4s & Debenture 6s
Kansas & Colorado Pacific 6s
Wisconsin Minn. & Pacific 4s
Mason City & Fort Dodge 4s
•
-
York
4s
Chicago Indiana & Southern 4s
OFFER
Kansas City Southern
New York City 4^s
33 Wall St.,N.Y
’Phones 7460 to 7466 Hanover.
Members N. Y. Stock Exchaage
Kansas City Southern 5s, 1950
N. Y. Cent.—Mich. Cent. coll. 3Hs. 1998
Phelps, Dodge & Co.
Wells Fargo Express
WANTED
Chic. & Eastern Illinois 5s,
Southern Ry., Memphis 5s,
Erie Ry. Cons. 7s, 1920
34 WALL ST
Tel. John 109
City Investing Common
25 National Park Bank
20 Broad St.. N. Y
the camp.
Cincinnati. Ohio. 3Hs and 4s
New Orleans Mobile & Chicago Ss. 1960
New Mexico Ry. & Coal Ss, 1947.1951
Auburn Gas 6s, 1927
Ala., Georgia. Nor. Car. State Issues
Hudson County Gas 5s. 1949
West Kentucky Coal 5s
Phenix National Bank stock
Buffalo & Susquehanna preferred stock
Express
PATERSON & CO.,
Td. 1986-6-7 Rector
MEGARGEL & CO.
Will Sell
Grande 4^s
Knoxville & Ohio 6s
Pennsylvania 43^s, 1913
Kanawha & Hocking Coal & Coke 5s
St. Louis & San Francisco 4^£s, 1912
Cincinnati Indiana & Western 4s
WERNER BROS. & GOLDSCHMIDT
Tel. 4800-1-2-3-4-5 Broad.
25 Broad Street, N. Y
Ill
THE CHRONICLE
[VOL.
Qvust ffijcrmpatitcs.
5£inanctat.
Norfolk & Western
BANKCRS TRUST COMPANY
7 WALL
City of Roanoke, Virginia, on Thursday, the 13th
day of October, 1910, at 12 o’clock noon, to elect
directors, to elect Independent auditors to audit
the books and accounts of the Company at the
Surplus and Profits, $6,295,000
close of the fiscal year, to consider the annual re¬
port of the directors for the fiscal year which ended
June 30th, 1910, to ratify and approve all action
of the directors set forth In such annual report
and In the minutes of the Company, to vote upon
DIRECTORS
STEPHEN BAKER, President Batik of the Manhattan
Co., N. Y.
SAMUEL Q. BAYNE, President Seaboard National
Bank, N. Y.
EDWIN M. BULKLEY. Spencer Trask & Co., Bank¬
ers, N. Y.
JAMES O. CANNON, President Fourth National
Bank,
N
Y
EDMUND C. CONVERSE, President, New York.
HENRY P. DAVISON, J. P. Morgan & Co., Bankers,
N. Y.
WALTER E. FREW, Vice-President Corn Exchange
Bank, N. Y.
FREDERICK T. HASKELL, Vice-President Illinois
Trust & Savings Bank, Chicago.
A. BARTON HEPBURN, President Chase National
Bank, N. Y.
THOMAS W. LAMONT, Vice-President First National
Bank, N. Y.
OATES W. M’QARRAH, President Mechanics and
Metals National Bank, N. Y.
EDGAR L. MARSTON, Blair & Co., Bankers, N. Y.
GEORGE W. PERKINS, J. P. Morgan & Co., Bankers,
Nederlandsch Admmistratie- & Trustkantoor
(NETHERLANDS
ADMINISTRATION & TRUST COMPANY )
Slngel - AMSTERDAM. (Holland.)
H. MEINfc.SZ, President
*
Board of Directors!
H.
L. D..
WALTER^ ock
& Uyt
R. Mees & Zoonen.
H. MEINESZ.
President.
Q. H. DE MAREZ OYENS,
Labouchere, Oyens & Co’s Bank.
A. L. G. H. PICHOT
Westerwoudt & Co.
W. M. SCHEURLEER.
Scheurleer & Zoonen
P. Th. EVERARD.
Banker.
P. M. J. QILISSEN
Arnold GUlssen.
AUG. KALFF,
Jan KalfT & Co.
as
as
Executor,
Trustee of
The most conservative
Investors have constantly
Chairman,
den Bogaard.
Ph. MEES.
A. A. H. BOISSEVAIN.
Director of Swiss Bankvereln and
of Labouchere, Oyens & Co’s Bank.
J. A. DUYNSTEE.
Telders & Co.
Acts
Acts
Administrator, Trustee,
Corporation Mortgages.
bankers, brokers and
before them
BABSON’S REPORTS
Guardian, Agent,
Railway and Lighting Co.
Earnings about
on
3 times Interest charges.
stock. Present price very low.
For details concerning these Reports or our
"Bosiness Barometers” (which we Install In banks
W.E. HUTTON & CO.
both for their own and customers’ use) address
Babson’s Compiling Offices, Wellesley Hills, Mass.
Members New York Stock Exchange
Established 1886
NEW YORK OFFICE. 24 STONE STREET
Largest Statistical Organization in the (J. S.
special subjects, viz.:
To vote upon a proposal to Increase the capital
stock of the Company Fifty Million Dollars, such
Increase to be common stock, divided Into shares
of the par value of One Hundred Dollars each, so
that the total capital stock of the Company shall
be
One
Hundred
and
Seventy-three Million
Dollars, divided Into one mlllon five hundred
thousand shares of common stock of the par value
of One Hundred Dollars each and two hundred
and thirty thousand shares of Adjustment Pre¬
ferred Stock of the par value of One Hundred
Dollars each; and
To vote upon a proposal to authorize the crea¬
tion and sale, on such terms and at such prices as
the Board of Directors from time to time shall de¬
termine, of an Issue or Issues of bonds of this
Company to an aggregate amount of fifty million
dollars ($50,000,000), each of which bonds shall
be convertible at the option of the holder Into
Common Stock of the Company during such period
and at such rate of conversion as shall be ex¬
pressed In the bond, and shall be payable at such
date, shall bear Interest at such rate, and shall
contain such other terms and provisions as the
Board of Directors may prescribe, but all such
bonds that may be Issued shall not exceed In the
aggregate such amount as, at the rates of con¬
version expressed in the bonds, can be converted
Into the Common Stock reserved for that purpose.
The stock transfer books will be closed at 3
o’clock p. m. Wednesday, September 28th, 1910,
and reopened at 10 o’clock a. m. Friday, October
?5 Broad Street.
New York
Private wires to Cincinnati. Chicago. San
Francisco and Los Angeles
Range of Prices for Stocks and Bonds
NOTICE OF ANNUAL MEETING.
New York, September 10, 1910.
To the Stockholders of
The Denver & Rio Grande Railroad Company:
The annual meeting of the Stockholders of The
Denver & Rio Grande Railroad Company will
be
held at the principal office of he
Company In
Denver, Colorado, at 12 o’clock noon on Tuesday,
October 18th, 1910.
The meeting will be held
for the election of Directors and for the transaction
of any other business pertaining to the
Company
that may be properly brought before it.
The books for the transfer of the stock of
the
Company, both Common and Preferred, will be
closed for the purposes of the
meeting at three
o’clock p. m. on Tuesday. October 4th, 1910, and
will be reopened at ten o’clock a. m. on the
day
following the annual meeting or the final ad¬
journment thereof.
STEPHEN LITTLE. Secretary
RIO
GRANDE
JOHN B. ANDREWS.
CLINTON
$1 00
75
We
The Hand-Book is issued to Bankers and Brokers
with their card*
lettered in gilt on the outside cover
(not less than 25 copies to one ad¬
own
GILBERT
of
YORK
and offer to the more
conservative
sues
Secretary.
Company Stocks
2 WALL ST., NEW
To Subscribers of the Chronicle
at
CO.
BOUGHT AND SOLD
Hand Book of Securities
dress)
RAILROAD
NEW YORK AND BROOKLYN
Earnings, Fixed Charges and Dividends for Series of Years
Price of Single Copies
SOUTHERN
Denver, Colorado, September 15 1910.
The annual meeting of the stockholders of the
Rio Grande Southern Railroad
Company for the
election of directors and for the transaction of
such other business as may be
brought before the
meeting will be held at the principal office of the
Company in the city of Denver, State of Colo¬
rado, on the third Monday of October next, being
the 17th day of said month, at 12 o’clock noon.
The transfer books will be closed at 3 o’clock
p. m.
on October 7th and
reopened on the morning of
Oct. 24th 1910.
Bank and Trust
July 1, 1910
ALDEN, Secretary,
THE DENVER & RIO GRANDE
RAILROAD COMPANY.
•
FROM
1904 to
H.
greetings.
etc
Large City—State Capital
Dividends
as
E.
of
Electric
such terms
the Board of Directors shall
approve and ratify any such
acquisition, and to vote upon a proposal to make
and carry out a contract for the lease or use of the
railroad, terminal facilities and property of the
Norfolk Terminal Railway Company or any parts
thereof, upon such terms as the Board of Directors
shall determine, and to approve and ratify any
such contract, and to transact such other business
as may properly come before the
meeting.
The meeting: has also been called by the Board
of Directors as a special meeting of the stockhold¬
ers of the Company to be held at the same time
and place to consider and act upon the following
upon
determine, and to
14th, 1910.
By order of the Board of Directors.
6% BONDS
ON
Fundamental Conditions
or
Bank, N. Y.
DANIEL G. REID, Vice-President
Liberty National
Bank, N. Y.
BENJ. STRONG JR., Vice-President, New York.
EDWARD F. SWINNEY, President First National
Bank, Kansas City.
GILBERT G. THORNE, Vice-President National Park
Bank, N. Y.
EDWARD TOWNSEND, President Importers’ & Trad¬
ers’ National Bank, N. Y.
ALBERT H. WIGGIN, Vice-President Chase National
Bank, N. Y.
SAMUEL WOOLVERTON, President GaHatin National
Bank, N. Y.
JR., Asst. Secy.
215
proposal to acquire, by purchase, consolidation,
merger, or by lease, the railroad, property and
franchises of the Big Stony Railway Company,
a
N. Y.
DANIEL E. POMEROY, Vice-President, New York.
WILLIAM H. PORTER, President Chemical National
E. C. CONVERSE, President.
B. STRONG JR., Vice-President.
D. E. POMEROY, Vice-President.
F. I. KENT, Vice-Presidents
F. N. B. CLOSE,
Secretary.
H. W. DONOVAN, Treasurer.
H. F. WILSON
Railway Company
The Annual Meeting of the Stockholders of the
Norfolk & Western Railway Company will be held
at the principal office of the company In the
STREET, NEW YORK
Capital, $3,000,000
LXXX3I.
investors several is¬
carefully selected municipal
bonds which are a legal investment
for savings banks, and executors
and trustees of tJt^tes.
special rates.
Commercial & Financial Olii'oniole
Front
Pine and
NFW
Depeyster Streets,
70ZLK.
R. M. GRANT & CO.
BANKERS
31 NASSAU STREET
NEW YORK
Oot. 8 1910.]
THE CHRONICLE
financial.
Xllf
financial.
jBitxidxrul*.
THE KANSAS CITY SOUTHERN
RAILWAY COMPANY
TO THE HOLDERS OF
M. BYLLESBY & CO.
Fifty-Year 4% Collateral Trust
Gold Bonds
ENGINEERS
OF THE
INTERNATIONAL
TRACTION CO.
The
EXAMINATIONS
218 La Salle
Committee, acting under the Bondholders’
Agreement dated June 21, 1910, announces that
more than a majority In amount of the above-
York,
or
Company, Louisville,
Kentucky, Sub-Depositaries, for the proper
dorsement of such advances thereon.
Dated New York. October 4, 1910.
en_
Managers
Chicago
The Board of Directors of the
NORTHERN
STATES POWER COMPANY has declared a
quarterly dividend of one and three quarters
per cent (1 H%) upon the preferred stock of the
Company, payable by check October 15th, 1910,
to stockholders of record as of the
close of busi¬
ness September 30th, 1910.
ROBERT J. GRAF, Secretary.
Office of
H. M. BYLLESBY & COMPANY
Engineers
Managers
Chicago
The
Committee.
GILLARD, Secretary,
23 Wall Street, New York.
FRANCIS LYNDE STETSON,
Counsel to the Depositary.
PHILBIN, BEEKMAN, MENKEN
&
The Board of Directors this
day declared from
the net earnings of the
BYLLESBY & COMPANY
Engineers
LEWIS CASS LEOYARD,
THOMAS E. MITTEN.
A. H.
AMERICAN LIGHT & TRACTION COMPANY
40 Wall St., N. Y.
City, October 4, 1910.
Office of
ROBERT L. FRYER. Chairman.
THOMAS DE WITT CUYLER.
CHARLES STEELE.
GRISCOM,
Board
of
Directors
of
the
OTTUMWA
RAILWAY & LIGHT COMPANY of Ottumwa,
Iowa, has declared a quarterly dividend of one
and three-quarters
per cent (1 %%) upon the
preferred stock of the Company, payable
by
check October 15th, 1910, to
stockholders of
record as of the close of business
September 30th,
1910.
ROBERT J. GRAF, Secretary.
Company the regular
quarterly dividend of ONE AND ONE-HALF
(1 M%) PER CENT on the Preferred
Stock of
this Company, payable November
1, 1910, to
stockholders of record of Preferred Stock at
the
close of business October
13th, 1910.
The Board also declared from the
undivided
profits of the Company a quarterly dividend of
TWO AND ONE-HALF
(2X%) PER CENT
on the Common Stock of the
Company, payable
November 1, 1910, to stockholders of record
of
Common Stock at the close of business October
13,
1910.
The Board also declared from the
undivided
profits of the Company a dividend of TWO AND
ONE-HALF
(2 M)
SHARES
OF
COMMON
STOCK on every One Hundred (100)
shares of
Common Stock outstanding, payable November
1,
1910, to stockholders of record of Common Stock
at the close of business October
13, 1910.
The Transfer Books for both Preferred and
Common Stock will close October 13,
1910, at
3 o’clock P.M.,and will
reopen November 1, 1910,
at 10 o’clock A. M.
C. N. JELLIFFE, Secretary.
Pay As-Yoo-Enter Car Corporation
Counsel to the Committee.
50 CHURCH
H. M.
New Netherland Bank
of New York
Statement of the condition
on
Oct. 3d, 1910.
RESOURCES.
Loans and Discounts
$1,970,223 46
Overdrafts
Stocks and Bonds
Furniture and Fixtures
1,123
271,576
5,000
981,770
Cash in Vault and Banks
Engineers
Reserve
Fund
5,084 52
3,150 00
Reserved for Taxes
Deposits
2,790,477
07
$3,229,693 60
OFFICERS.
J. ADAMS BROWN
----President
JOHN P. MUNN, M. D
Vice-President
CURTIS J. BEARD
Cashier
-
LOUIS S. BRADY
-
-
-
-
-
ROBERT J. GRAF, Assistant
Secretary.
UNITED
Office of
BYLLESBY & COMPANY
The Board of Directors of the
FORT SMITH
LIGHT
&
TRACTION COMPANY of
Fort
Smith, Arkansas, has declared a quarterly divi¬
dend of one and three-quarters
per cent (1 %%)
upon the preferred stock of the
company, pay¬
able by check October 15th,
1910, to stockholders
of record as of the close of
business September
30th, 1910.
ROBERT J. GRAF, Assistant
Secretary.
H.
GENTLEMAN,
Managers
Chicago
M.
Office of
BYLLESBY &
Engineers
COMPANY
Managers
Chicago
The
THOROUGHLY
EXPERI¬
ENCED AS OFFICE MANAGER.
CONFIDEN¬
TIAL MAN AND CASHIER.
CAPABLE EXECU¬
TIVE, DESIRES POSITION WITH NEW
YORK
STOwK EXCHANGE FIRM, OR
PARTY OR
FIRM REQUIRING MAN OF SUCH
CAPACITY.
HIGHEST CREDENTIALS. ADDRESS X.
Board of
Directors of the SAN DIEGO
CONSOLIDATED GAS & ELECTRIC COM¬
PANY of San Diego, California, has declared
a
quarterly
dividend
of'
one
and
three-quarters
Ser
cent (1 payable
H%) upon
the preferred
of the
ompany,
October stock
by check
15th, 1910,
to stockholders of record as of the
close of busi¬
ness
September 30, 1910.
ROBERT J. GRAF, Assistant
Secretary.
Y. Z.,
CARE COMMERCIAL & FINANCIAL
CHRON¬
ICLE. P O. BOX 958, NEW YORK CITY.
INTERNATIONAL PAPER COMPANY.
A dividend of one-half of One Per
Cent
on
the
Ereferred
stocktohaspreferred
been declared,
payable
Octo15th 1910
stockholders
of record
er
WANT LOAN OF $200,000.
a loan of $200,00
?IUle.£?SLl„and.de®r
have a client that desires
lien*
rst lien
on
$400,000.
to
real estate. City of
of
Apply to
Scranton. P
Security $350,0(
W. W. WATSON.
Traders’
^
,
National Bank Building,
Scranton. Pa.
at the close of business at 3 P.
M., October 5th
1910, at which time the transfer books close for
the
annual meeting to be held October
26th 1910,
12 o’clock noon, at Corinth, N.
Y., and reopen on
the morning of October 27th 1910.
Checks mailed.
K. W. HYDE,
Secretary.
Office of
THE UNITED GAS IMPROVEMENT
N. W. Corner Broad and Arch
CO..
Streets,
Philadelphia, September
1910.
A
ing
FURNISHED OFFICE in well-known
build¬
financial district, suitable as
headquarters
in
for retired gentleman of
means, may be had by
sharing annual expense of about $2,000,
rental, stenographer.
115 Broadway, N. Y,
including
&c.—Inquire Room 606,
14,
The Directors have this
day declared a quar¬
terly dividend of two per cent ($1.00 per share)
payable Oct. 15, 1910, to stockholders of record
at the close of business Sept.
30, 1910.
Checks
will be mailed.
LEWIS LILLIE,
desires
house handling municipal and railroadpositio
bond
N. Y. City territory or will
travel.
Addrei
L. H.-F., care “Cjirenide.” P. O.
Box058. N. }
FRUIT
COMPANY
DIVIDEND NO. 45.
A quarterly dividend of two
per cent on the
capital stock of this company has been declared,
payable October 15, 1910, at the office of the
Treasurer. 131 State Street, Boston, Mass., to
stockholders of record
at
the
close
of
business
September 27, 1910.
CHARLES A. HUBBARD, Treasurer.
UNITED STATES RUBBER COMPANY.
42 Broadway, New York, October
6th, 1910.
The Board of Directors of the United States
Rubber Company has this day declared from Its
net profits a quarterly dividend of Two Per Cent
on the First Preferred Stock
(including all out¬
standing old “Preferred” Stock), and
a
quarterly
dividend of One and One-Half Per Cent on the
Second Preferred Stock of this Company, to
Stockholders of record at 12 M. on Saturday,
October 15th, 1910, payable, without closing of
the Transfer Books, October 31st, 1910.
JAMES B. FORD, Treasurer.
ST. PAUL UNION STOCKYARDS COMPANY.
First Mortgage 5% Gold Bonds
(Coupons April and October.)
Coupon No. 48, due October 1st, 1910, will be
taken up on behalf of the Company and paid by
the National Bank of Commerce In New York
and i y Messrs. Robert Benson & Company in
London, and by the Stockyards National Bank
in South St. Paul, Minnesota, on and after
October 1st, 1910.
A. A. MC KECHNIE, Treasurer.
American
Zinc, Lead & Smelting Co.
The Directors of the American Zinc, Lead
&
Smelting Company have declared a dividend of
fifty cents (50c.) per share, payable October 15th
1910 to stockholders of record at
business October 1 1910.
S
E.
the
close of
FARWELL, Treasurer.
Treasurer.
NEW
Experienced Bond Salesman
with
STREET
New York, September 14, 1910.
The Board of Directors have this
day declared
a quarterly dividend of One and
Three-Quarters
Per Cent (1H%) on the Preferred Stock
of this
Company, payable October 15, 1910, to stock¬
holders of record at the close of business October
1st, 1910.
Checks will be mailed by the Standard
Trust Company of New York.
WM. A. KERR, Asst. Treasurer.
1910.
Assistant Cashier
l@lautje4L
Managers
The Board of Directors of the
OKLAHOMA
GAS & ELECTRIC COMPANY of
Oklahoma
a quarterly dividend of
one and three
quarters per cent (1 H%) upon the
preferred stock of the Company, payable
by
check October 15th;
1910, to stockholders of
record as of the close of business
September 30th,
H. M.
$200,000 00
230,982 01
*
City, Oklahoma, declared
Engineers
Capital
Surplus and Undivided Profits
Office of
BYLLESBY & COMPANY
Chicago
47
63
00
04
LIABILITIES.
ESTABROOK,
*
Secretary.
■
Siuidmds.
H. M.
States Trust
Mobile. Ala.
G. L.
thereby.
United
October 6, 1910.
The Board of Directors has declared
the regular
quarterly dividend of One and One-Quarter Per
Cent upon the Preferred Stock,
payable November
1st, 1910, to stockholders of record at the close
of
business October 15th, 1910,
Checks will be
mailed.
4% Collateral Trust Gold Bonds of the Traction
Company deposited with the Committee, of the
Interest due July 1,1910, on the bonds represented
the
PREFERRED DIVIDEND NO. 18
Office of the
LOUIS & SUBURBAN COMPANY.
Street, CHICAGO
Oklahoma City, Oklahoma.
Secretary.
EAST ST.
Portland, Ore.
mentioned bonds has been deposited under said
agreement, and that It has made the necessary
arrangements for an advance to the holders of
certificates of deposit Issued for the Fifty-Year
Such Interest will be advanced to the holders
of certificates of deposit Issued by the
Committee,
upon presentation thereof at the offices of J. P.
Morgan & Co., 23 Wall Street, the Depositary
under the agreement, the Manufacturers’
&
Traders’ National Bank, Buffalo,
New
and REPORTS
No. 25 Broad St.. N.
Y.,
A quarterly dividend of ONE Sept. 20, 1910.
PER CENT (1%)
has this day been declared
upon the Preferred
Stock of this Company from
surplus earnings of
the current fiscal year,
payable October 15, 1910,
to stockholders of record at
3 o’clock P. M., Sep¬
tember 30, 1910.
Checks for the dividend will be mailed
to stock¬
holders at the addresses last furnished
to the
Transfer Office.
G. C. HAND,
OFFICE OF THE
YORK DOCK COMPANY.
New York, September 21st, 1910.
The Board of directors has
declared a dividend
of (2) TWO PER CENT on the
Preferred Stock
of the Company,
payable October 15th to Stock¬
holders of record at the close of
business on Oct.
1st. 1910.
GEORGE E. SPENCER, Treasurer.
American
Telephone & Telegraph Oo.
A dividend
of Two Dollars per share will bo
paid on Saturday, October 15th 1910, to stock¬
holders
of
record
at
the
dose
of
business
Friday, September 30 1910.
WM. R. DRIVER, Treasurer
on
[VoL. IiXXXXl
THE CHRONICLE
XIV
fftaxwctel.
A First Mortgage Railroad Rond
To Net 5%
These bonds
Construction
unusually well secured.
and equipment are of the
are
highest character. Earnings show
an ample margin over all interest char¬
ges and are rapidly increasing.
The
stockholders have a large cash invest¬
very
ment behind the bonds.
serves
an
The property
of great
We strongly recom¬
to investors seeking a
exclusive territory
natural wealth.
mend these bonds
fair income return combined with abso¬
safety of Principal. Send for Circu¬
No. 713Y containing full particulars.
lute
lar
Peabody Hbughtelmg &Co.
(Established 1865)
181 La Salle Street, CHICAGO
finanrial
ommetrici
by WILLIAM B. DANA COMPANY, Front, Pine and
Depeyster Sts., N. Y. C. William B. Dana, Prest.; Jacob Seibert Jr., Vlce-Prest.
Published every Saturday
NO. 2363
OCTOBER 8 1910
VOL. 91
CLEARINGS—FOU SEPTEMBER,
1910.
6.231.014.946
Hem York
Philadelphia
Pittsburgh..
570.039,541
204.721,882
128,041,600
38,711,725
25.852,617
25,695,849
14,997.383
10.507.237
8.702,896
5,956.900
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
Syracuse
Beading
Wilmington
6,135,232
Wilkes-Barre
Wheeling, W. Va
Trenton
Harrisburg
York
Erie
Greensburg
Binghamton
Chester
Altoona
FTanklln
Frederick
Total Middle.——
Boston
Providence
Hartford
Hew Haven
Portland
Springfield
Worcester
Fall River
Hew Bedford
Lowell
Holyoke
Total New England
Chicago
Cincinnati'
Cleveland
Detroit
Milwaukee
5.545.206
6.592.563
5.979.705
5.564.171
3.640.708
3.368.074
2,599,370
2,127.990
2,164.023
2.062,501
1,047,976
1,096.667
7.312.166.762
574,187,293
28,616,700
14.686.681
9,834.669
8.381,292
8,087,771
9.287.978
4,229.672
3,591,355
1.945.109
2.305,327
665,153.847
Rapids.I.II
Springfield, Ill
Youngstown
Fort Wayne
....
Lexington
Quincy
Bloomington
Canton
Springfield, Ohio
Jacksonville, Ill...
Danville
Ann Arbor
Adrian
Lima
Saginaw
Lansing
Total Mid. Western
•
1,846,201
1,654,097
1,262,783
1,647,868
635,892
132,293
1,491,833
2,250,844
1,564,455 Not Included
1.557.018,745 1.577.584,330
San Francisco
Los Angeles
Portland
Spokane
City
Sacramento- IIIIIIII
San Diego
Fresno
Stockton
Sam Jose
North Yakima
j
Billings
Pasadena
Boise
Medford
Total Pacific..
Kansas City
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Duluth*
Lincoln
Topeka.
Davenport
Cedar Rapids
Fargo
2,834,325
2,489.565
1.285,871
885,719 Not Included
Hastings
Not Included
Aberdeen
r
I,,
n
1,164,637.621
599.635,602
see page 919.
766.210,790
—6.6
+ 2.9
+21.9
—20.0
+9.1
0.0
+9.0
+3.6
—0.5
+41.8
—1.5
—1.0
—12.6
In total
In total
547.867,149
+9.4
726.899.622
+5.4
11,361,667,620 13.542.069.782
-16.1
5.130.652,674 5,063,692.833
+ 1.3
178,345,660
237,630,659
213,653,457
114,609,355
33,993,190
48,864,636
50,265,866
26,510,848
22,885,246
20,274,041
17,419,410
6,597,172
30,695,414
31.479.804
900,179
4.131,274,512
417.262,844
361.644.183
1910.
1909.
1,345,409
2,260,843,360
153,247,066
50,090,942
28,763.467
10,186,011
6,823.577
6,318,544
4,400,249
2,600,000
2,186,721
1,818,889
1,651,053
1.250,894
1,711,937
1,336,276
1.444.546
816,155
817,721
590,000
407,500
565,385
473,750
272,000
764,388
542,405
400,800
479.464
433,830
270,000
—1.4
+ 14.8
+ 14.4
+ 11.1
+ 10.0
4-5.9
+ 10.8
+ 7.0
+9.2
+ 17.1
+8.9
+ 15.3
+ 11.6
+ 11.0
+4.5
+3.8
+ 12.4
+ 22.0
+6.1
+3.6
+ 18.2
+ 14.9
—2.2
+ 1.1
+0.3
—0.4
+8.1
+ 20.0
+4.5
+ 13.0
+ 8.7
+38.4
—2.0
2,100,457
1,368,040
1,545.127
1,246,024
1,619,557
1,350,000
1,855,255,300 2,538,456,958
164,972,116
139.328.979
8,631,800
7,881,200
4,042,238
3,612,225
2,732,254
2,293,565
2,154,473
2,363,504
1,900,000
1.943,725
2,039,352
2,024,692
1,054,109
1,008,052
1,093,070
809,594
418,723
465,611
1908.
1907.
-1,4
1,544.702.434 1.784.947.442
—11.6
+ 1.8
+5.1
—11.1
—9.7
—1.7
—18.3
—4.1
—3.9
—24.8
—6.4
—0.4
—5.4
+ 1.0
—6.9
—8.6
+ 7.0
+ 8.8
+ 1.7
+ 18.2
+9.2
+0.7
—26.9
—15.5
—8.7
—10.6
—16.1
+9.7
+ 2.3
—0.7
—4.5
—25.9
121,716,264
37,697,847
24,772,537
8.824,181
6.230,156
5,377,264
4,168,480
2.523.924
2,072,848
1,468.178
1,309,371
1,193.301
1,346,727
1,340,673
1,090,689
752,958
602,371
530,000
445,900
525,635
424.107
275,000
151,121,418
55,954.458
33,038,524
9,749,699
6,191,767
6,693,943
4,542.370
3,444,341
2,527,824
1,645,647
1.521.849
1.234,068
974,452
T,i"7bl2i7
948.241
712,443
883,227
604,100
610,388
'*$781273
,772,390. 845 2.068,844,681
163,712,385
151,657, 693
8.052.100
6,839, 900
3,851,947
3,377, 058
2.460, 896
2,867,807
2,617, 674
2,985,425
2,055,000
1,712 960
1,713,198
1,565 202
897 972
1.038.981
874,011
538,297
575,611
162,278,934
265,290,995
23,322,250
16,458,149
15,960,796
14,500,000
8,015,506
6,000,000
3.532,865
3.120,192
2,505,392
1,867,999
2,085,420
1,318,570
800,000
1,621,545
1,009,992
813,000
733,818
748,306
666,902
540,927
917,585
496,290
475.770
420,171
387,736
400,000
317,232
400,000
220,000
27.596
313,344
521,000
189,563,011 —14.4
—5.4
280,252,550
—5.4
24,651,700
+ 2.3
16,089,173
13,725,966 + 16.3
12,792,627 + 13.4
+3.3
7,762,743
—4.8
6,300,900
—6.0
3,759,717
+ 6.8
2,920,651
+3.9
2,411,450
1,696,427 + 10.1
—6.5
2,230,968
1,107,938 + 19.0
—3.9
832,729
949,940 +70.7
866,172 + 16.6
172,825, 351
232,801, 845
22.435, 250
14,896, 001
12,323 436
11,782, 642
7,484, 412
5,666, 000
3,021, 255
2,401 ,938
2,086, 561
1,547 ,307
1,824 ,715
835 ,972
826 ,276
587 ,840
784 ,544
188.264,762
263,067,699
26,569,250
19,288,558
14,159,306
13,297,132
8,272,016
+ 4.6
375,809,648
385,720,405
—2.6
327.472.28o
374.967.242
1,419,134,659 + 20.3
489.966,950 + 21.5
+7.4
415,882,099
274,274,479 +38.1
141,603,072 +25.9
—1.4
241,028,530
+5.5
202,490,559
70,921,162 +61.6
+0.7
33,754,464
38,143,364 + 28.1
39.067,994 + 28.7
19.278.438 +37.5
19,677,455 + 16.3
17.378.439 + 16.7
13,599,811 + 28.1
—7.1
7,103,848
6,843,476
25.754.041 + 22.2
Not Inc uded In total
3,469,059,364 + 19.1
44,242,876
13,353,903
11,772.517
9,300,000
4,447,681
5,511,393
+ 2.5
+ 8.7
47.480,099
10.894,490
11,227.235
7,853,693
3,994,314
+39.2
+ 15.2
+ 2.5
+ 28.4
+ 13.5
—52.0
+ 22.0
39,609,886
9,039,793
8,992,802
7.050,000
3,500,000
4,698,835
5,031,979
1,672,385
715,615
838,553
700,000
612,026
496,447
560,654
236,711
161,068
550,000
43,157,552
12,288,491
11,854,141
7,800,000
4,655.621
5,722,116
6,261,688
1,799,837
813,513
1,033,740
790,000
617,995
548,924
510,000
352,430
241,560
450,927
104.062,843
98,893,535
+ 5.2
83,916,753
97,683,088
52,502,362
25,794,525
15,834,157
10.830,813
9.437,447
5.869,784
3.461.071
2,690,681
3,146,430
4.949.474
1,420,840
1,204,768
49,126,783
28,473,756
15,936,318
11,710,453
9,548,956
5,717,617
3,816,349
3,091.470
2,866,541
+ 6.9
—9.4
—0.6
—7.5
—11.6
40.647,681
28,764,590
12,310,620
10.752,069
8,609.047
5,099,916
3,145,965
2,603,044
1,281,885
39.030.162
32.201,160
--I,280,7i3
"T,4681926
1.701,666,025
658,009,152
538,704,852
356,943,134
334,847,746
225,641,716
136,392,552
101,171.372
91,559,970
70.512.402
55,601.276
51,532,898
48,238,419
39.614,174
25,687,563
—7.0
+ 18.4
+ 24.2
+ 10.4
+ 14.4
+3.0
+7.7
+ 8.4
+ 14.1
+ 17.0
+ 11.1
+ 13.2
+ 2.9
+ 23.8
+ 11.3
+31.8
+ 19.8
+ 26.1
+ 16.6
+ 21.5
+36.9
+8.8
+ 13.0
+ 14.1
+ 14.8
+ 26.0
+ 8.0
+26.1
+ 12.8
+32.1
+ 12.5
+ 14.1
total.
+ 13.1
+ 22.7
+ 16.3
+ 16.9
+8.0
+ 16.3
+ 15.2
+ 12.8
+26.4
+10I6
—3.4
+ 21.2
+ 22.7
+ 26.4
+48.9
+5.0
+7.1
+4.6
4,450.845.828
+ 15.4
8,263,517,488
7.058,754,696
122,406,351,563 119.312,580,465
+ 12.7
547,787
44.746.499.148
525.370
785,000
623,505
616,402
583,382
462,809
600,000
435,248
517,652
454,371
310,992
360,000
249,713
362,485
210,000
20,562
261,159
515,474
391,660 Not included
5,801.444
3.337.549
813,513
1,280,396
1,100,000
712,200
562,740
655.000
400,000
116,027
1,247,234
1,075,000
875,000
980,000
685,000
566,237
258,880
6,685,243
1,432,250
1,184,799
1,485,745
1,027,949
763.264
714,000
690,000
639,549
367,689
Not Included
Not Included
Included in total
Not Included In total
48,875,055,498
1.
762 130
459 702
474 164
+ 14.7
+ 4.1
+ 10.9
+ 1.1
+ 2.0
23,944,267
26,811,236
21,071,328
13.408.418
5,137.329,277
892.539
Inc. or
Dec.
+ 11.2
+ 4.3
262,493,391
156,167,100
114,124,492
115,669,236
133,115,589
61,136,723
49,801,841
58.460.894
48.612.677
32.455.677
35,646,284
28,148,168
22,569,399
14,023,511
6.291.798 Not
TaMelCteariugslby Telegraph and Canadian Clearings on Page 919.
9
74.566.081.317
4,994.624,218
1,693,327.383
1,048.222,583
339,653,950
211,017,461
242,380,218
146,461,339
93.912,639
78.134,799
55.546,661
51,227,725
47,598,822
60,913,615
56.675.418
46,897,033
32,370,509
26.583,094
20,514,245
17,654,300
18,328,522
15.048,946
10.005.038
373.653.242
223,551,437
268,555.295
+0.3
—4.3
156.673,595
+7.0
102,511,228
—1.6
91,508,154
—4.7
60,477,925
+9.9
59,085,173
53,122.288
+0.3
—1.7
67,587,153
59,208,988
+3.2
—1.7
48,695,219
—2.6
36,487,070
32,425.078
+5.8
21,758,659
+ 12.3
—9.7
18,288,243
21.669.424
+ 11.1
17,288,344
+ 14.0
9,785,641
+0.3
9,639,259
9,732,875
+ 2.2
—23.5 84,097.529.462 83,882,819.062
—7.9
6,136,079,990
6,110,160,644
273,288,100
+4.8
295,450,300
136.571,859
163,808,013
+7.0
101,763,726
106,394,564
+ 14.1
65.878,876
74.469.534
+ 4.2
—2.0
78,377,218
85,161,724
62,770,716
86.811,347
+32.7
42,497.941
14,638,187
+5.3
35.294,377
—22.1
40,478.633
17,980,042
18,718,379
+ 1.5
19,349.547
+ 4.2
21,455,072
—6.2
6,969,802,392
t, 546,397
—4.4
1,865,755 10.180.450,484
998,790,200
—1.8
!,755,650
629,815,450
i,802,822
+3.4
557.180.564
1,053,192
+ 20.6
435,983,668
+9.4
,313,345
307,232.762
+31.3
,511,209
—6.1
223,728,100
1.525.200
153,267,433
+ 1.3
*,040,467
105.762,028
+ 8.2
(,687,548
89,704,944
+ 12.5
!,362,558
72,420,843
+3.1
1,744,897
—1.8
75,897,321
1.396,749
45,955,080
+3.5
!,028,346
—5.6
38,418,847
1,520,540
34.466,187
[,666,973
+ 16.9
35,253,717
+8.3
1,239,329
27,830,396
+ 15.9
(.686,800
25,612,230
+ 18.4
1,680,751
25.015,891
+ 14.1
.,546,146
21,172,314
+ 17.9
(.687,351
20,059,945
+ 14.9
(,373,345
27,667.146
+36.9
',864,035
19,110,156
+4.9
(,800,209
17,972,049
+6.6
1,307,173
16,561,078
+3.6
1,894,887
13,723.524
(.755,914
+ 14.4
13,190,955
+ 16.1
>,620,530
—0.4
11,141,038
5,030,803
14,094,908
+ 10.1
r,777,380
6,250,447
+ 4.6
r,049,840
1,041,454
+38.8
1,375,913
11,571,906
+2.6
1,015,647
20,103,266
+6.8
5,940,915
in total
1,736,405 Not included in
—1.3 14,936,923,219 14,276.536,331
—3.0
—1.6
1,924,840,092
807,663,637
626,613,128
4,455,643
—...
73,531.302.065
5,733,204.274
1,936,320,471
+ 8.2
+ 17.4
+ 14.6
—7.1
+ 16.5
+3.8
205,109,354
97,391,669
61,609,773
47.874,908
36,419,265
25,077,251
16,228,301
12,010,983
11,526,868
24,631,793
5,897,969
5,788,587
5.317.583
4,336,530
3,274,810
3,141,836
2,877,570
2,513,282
1,470,610
Inc. or
Dec.
S
1.707.922.212
595,133,136
446,792,799
378,897,021
4,491,114
3.259,490
Sioux Falls
Colorado Springs..
Pueblo I
Fremont
I Total all
Outside New York..
+4.5
+ 16.2
1909.
1910.
171,179,037 + 13.2
50,568,518 + 22.0
54.901,412 —13.1
34,367,068 + 28.3
+ 6.7
19,070,285
—4.6
25,613,358
—5.5
26,901,788
8.052,004 +61.2
+8.6
3,625,819
4,804,177 +30.1
4,273,556 +30.3
2,864,665 + 25.7
2,608.833
+ 5.8
2,291,189 +31.5
1,733,202 + 12.6
820.329 —31.8
2,400.000
+5.9
2,996,578 + 12.2
In
total
900,179 Not Included
416,671,818 + 10.8
461,481,874
223,925,660
114,310,029
70.592,353
44,487,570
42,418.453
26,034,038
15,161,399
12,361.871
14.034,831
19,702,645
6,432,029
5,265,304
5,796,857
Minneapolis
Total other West..
FOr details of Souther
Total Southern
Inc. or
Dec.
193.745.829
61,735,023
47,728,637
44,089,574
20,342,048
24.446,160
25,408,397
12,981,340
3,936,286
6,251,176
5,569,777
3,600,418
2,760,497
3,013,187
1,951,053
559,525
2,542,001
3,362.947
Seattle
Salt Lake
Tacoma
Oakland
Helena
2,212,547
709,342,674
100,371,150
73.498,736
61,809,454
47.683,275
33.227.698
24,754.500
16,271,376
12,059.218
10.190,811
8,246,341
8,588,319
5.294.298
4,273,433
4,960,425
3,891,385
3,236,300
2,677,817
2,632.157
2,282,090
2,169,318
2,979,428
2.097,399
2,048,513
1.926,746
1,613,647
1,425.085
1,268,456
1.496,235
607,783
95,281
1,453,454
2,106,874
Evansville
Kalamazoo
South Bend
Decatur
Mansfield
Jackson
9.563.704.187
623,683,540
27.315.200
13.725.201
8.621.204
8.041,044
8,255,973
6,997,106
4,015,610
4,559,631
1,915,618
1,130,347,328
Dayton
Akron
Rockford
1.809.719
1,044,522
1,012,641
98.607.950
76.006,526
74,562,566
52,150,843
37,660,082
23,240.200
16,485,925
13,048,026
11.460.291
8,502,561
8,434,675
5,480,520
4.036.229
5,799.484
4,213,703
3.750,000
3,170,670
3,002,074
2,690,286
2,493,685
4,078,316
2,200,837
2,183,227
1,996,715
Indianapolis
Grand
195.852.323
110,178.406
39.893,681
26.264,868
25.620,696
15.675,070
9.819.712
8,848.692
6,250.641
5,583.674
5.529.978
6.705.032
5.796,027
5.663.320
3,738.265
3,184,285
2.314,397
2,355,900
1,948.271
Week ending October
Nine Months.
—?6.5
8.478,^76,947
—5.0
600,177.120
1,080.841.543
Columbus
Toledo
Peoria
1909.
Addresses of all, Office of the Company.
SINCE JAR GARY 1, AND FOR WEEK ENDING OCT. jl
September.
Clearings
and Sec.; Arnold Q. Dana, Treas.
+3.6
+ 17.7
+21.4
+ 14.3
+ 16.9
+ 52.9
+ 14.0
—8.1
—7.5
+ 24.7
+ 11.1
+ 27.0
+ 10.3
+ 4.8
+35.7
+ 19.9
+ 1.1
700,000
544,798
688.829
503.893
535,213
450,000
425,000
625,482
479.198
350,915
228,385
287,314
-*
i66lil4
25,000
379,000
in total
—0.7
+ 19.2
—4.5
—3.7
—7.3
+ 85.5
+ 23.9
+ 23.9
+ 2.7
—9.3
—13.0
+9.8
—26.0
—0.8
+ 1.7
—16.0
+ 4.6
+ 14.6
+37.3
—0.7
—11.5
—29.6
in total
in total
145,278,731
—1.7
191,486,329
186.610.097
+2.6 2,826,846,525 3,518,399,469
+9.2 1,229,374,996 1.288,556,109
—3.1
—19.7
142,829,103
620 000
492 179
565 ,500
527 675
427 .825
630 ,000
427 ,835
431 ,215
336 ,089
265 .571
356 .789
282 ,196
290 .077
207 ,936
20 600
285 .000
5,682,080
4,142,960
3,390,793
2,549,655
1,985,229
2,191,568
1,361,698
856,757
877,306
839,374
1,017,064
1,482,593
838.395
509,588
700,000
700,000
488,321
371,416
120,602,907
5,740,733
5,059,576
2.991.756
1,221,118
550,000
720.074
12,383.528
10,870,447
9,099,881
5,360,711
3,562,240
2,772,139
1,303,305
961,382
1,585,699
729.134
547,318
725,000
742.503
428.498
385,306
124,157,339
150.753,458
173,569.689
2,627,961,599 3,027,486,801
.6 1.083.259.165 1,242,539,359
* Not Included in total for month and nine months; comparison incomplete.
906
THE CHRONICLE
zeal of
THE BANKERS’ CONVENTION AT
Following our usual custom, we shall report the
proceedings of this week’s annual convention of the
American Bankers’ Association in
termed
our
one
“Bankers’
issued next week.
overwrought political economists.
of time this New
methods, as will, on the
hand, insure the stability of our Government, as
special number, well
as on
Convention Section,” to be
country.”
This Supplement will have added
In one
a
LXXXXI.
If in the
Industrialism, on account of
its widespread and
far-reaching growth, should find
itself under Federal
control, let it be so, but let that
Federal control be extended in such am
orderly way,
and by such Constitutional
course
LOS ANGELES.
[Toil.
the other hand promote the
progress of our
sense, it might be said that the prodigious
industrial expansion of this
country in the last quar¬
special articles bearing on the banking development ter-century has caught the
people unprepared, and
of the two Pacific Coast cities. One of these articles is has introduced an obstacle to their
own
interest by reason of the fact that it will contain
prosperity; for
problems
have
come
some
in,
of
which
are
Summary of Los Angeles and Los
really seri¬
ous and others of which
have
had
their
seriousness
Angeles Banks,” and is by Stoddard Jess, Viceof
magnified
out
due
proportions by their nearness
President of the First National Bank of Los
Angeles. and
and
suddenness;
thus
it has been made to seem
The other concerns the “Growth of
Banking in San that great evils need immediate
remedying. The agi¬
Francisco Since the Fire,” and is from the pen
of James tator sees his opportunity and seizes it, adroitly turn¬
K. Lynch, Vice-President of the First National Bank ing the rather natural American
impatience so as to
seek and attempt to cure these
of San Francisco.
supposed evils imme¬
diately. That matters will gradually adjust and right
THE FINANCIAL SITUATION.
themselves by operation of natural laws is not re¬
In course of some timely and sensible
things said membered and trusted as formerly; agitation, new
in an address on last Wednesday to farmers at the Okla¬ statutes, and drastic enforcements
without reflection
homa State Fair, Mr. B. F. Yoakum of the St. Louis & upon possible
consequences, are expected to make
San Francisco Railroad used one phrase
people
virtuous,
and therefore happy right away,
which might
well remain in men’s minds as
whereas
all observation teaches that the
expressive of new con¬
only events
ditions that are not to be treated
in this life which come
hastily. In the early
suddenly are the calamities.
The most dangerous
years of the country, he said, commerce was almost
symptom is the disposition,
wholly within the State. Population was thin and sedulously cultivated by the most prominent agitator,
scattered; communication was by rough wagon roads, to regard written constitutions as in the nature of
and, indeed, anybody whose recollections go back of impediments to progress, and not only to change* them
the middle of the century, to the
infrequent letters often but to so arrange them as to make changes easy,
as it has been
and the high postage rates which then
happily put, to fix constitutions so
prevailed, can
realize that, when mail communication is rare and that they can be
changed over night. Nobody is so
slow, all trade must be narrowly local. As the coun¬ foolish as to imagine that the people can be prevented,
try grew and railroads extended, a far-reaching, con¬ in the long run, from having their own way, so far as
their way can be obtained
nected and inter-dependent industrial
by any human means.
development
has come into existence, until now
The wildest proposition ever broached can
be imbedded
only the very small
and naturally local businesses confine themselves in the Federal
Constitution, despite all the conserva¬
within one State.
tive elements, if the
people only get enough possessed
Under this development, said Mr.
by
it
and
stay
so
long enough. The utmost anybody
Yoakum, the
people of the States and the people of the entire coun¬ can expect—and the last which any sane person can
try “have been welded into an industrial whole, and deny—is that the people shall be perfectly sure what
a crusade
against one class is a crusade against all they do want and not act under any mistake about
classes.” This community of interest he calls “the their own minds.
New Industrialism,” which he
This sureness can be had
says “has been mis¬
only by going slowly and
taken by some as predatory wealth,
by others as revo¬ deliberating long before acting. Therefore any New
lutionary plutocracy, and by still others as a cause for Nationalism, by whomsoever urged or under what
‘New Nationalism.’ ”
He admits fully that it must specious general phrases it is
covered, which presses
be under some sort of authority, and be made to
the people to act upon their
anger or other impulses,
obey
some law;
“but that it should be made the sport of is a danger to the rights and prosperity of every citizen.
politics, the theme of demagogues or the plaything Mr. Yoakum only expresses the growing conviction
of Socialists every good citizen
fervently hopes to pre¬ that what we need in this country, for a considerable
vent.”
time at least, is less action and much
very careful
Now, “if, in order to properly regulate the growth reflection. Now that we are in the annual elections
of New Industrialism, it is
necessary for the Federal struggle, is it not just the time to pause and think?
an
“Historical
Government to have
power than was originally
granted”—note well the “if” here, for Mr. Yoakum
does not say that more power is
necessary, but merely
supposes, for the sake of the argument, that- this con¬
cession is made—then, in that case
(he urges), let a
proposal for new power be submitted in due form to
the States for adoption.
For, he says:
more
“This New Industrialism must and will
conform
itself to the new laws of the
but
country,
it protests
that these new laws should not
proceed from the hot
In
accepting the resignation of Justice Moody,
Mr. Taft has written a letter of
personal appreciation
and regret which is in marked and
encouraging
contrast with certain loose remarks that
have recently
been made concerning the
Supreme Court. Mr. Taft
writes that “the approach of
every question for
decision with indifference to
every consideration except
to reach a right and
just conclusion, and to preserve
the fundamental structure of our
government as our
Oct.
81910.]
THE CHRONICLE
907
fathers gave
it to us; makes the functions of the office on the London Stock Exchange or, for that matter, in
most precious to every one who feels in every fibre, New York, while most of the international
exchanges
as you do, their sacred importance.”
are in London’s favor.
At Berlin the pressure in the
Right and just conclusions of the particular matter money market has distinctly relaxed since the Reichsin hand, and preserving the fundamental structure bank named 5% as a minimum discount
charge; spot
of government as delivered by the founders—nothing bills can now be placed at
3%%. This is the more
could better express the idea which formerly prevailed, surprising in view of the
very unfavorable return
and also the degree of departure which has gradually issued by the Imperial Bank at the
beginning of this
come over the country.
The departure is not yet in week. The loss in cash at the month-end exceeded
things done, and we are permitted to hope that it $40,000,000, note circulation expanded upwards of
.never will be; but in the talk which has been
indulged $125,000,000, discounts increased more than $105,in and has been received without much protest are 000,000 and loans
nearly $35,000,000, while deposits
menacing indications. On the other hand, it is fell off fully $11,000,000. The inference to be drawn
reassuring to believe that in this letter Mr. Taft from the subsequent easiness in rates is that the
expresses sincerely his own deep convictions as to the customary return flow of funds to the Bank has
functions and (more important) the fundamental
already set in, so that it is reasonable to expect a
character of the high courts.
much stronger showing next week. No concern need
This view forbids any consideration, when selecting be felt over the
monetary position in Paris, notwith¬
a new member of this
great tribunal which has been standing that the Bank of France on Thursday re¬
so much
changed in this present year by natural ported a loss of fully $4,000,000 in gold and an increase
causes, of how this or that man is likely to hold with of more than $21,000,000 in note circulation.
The
reference to any particular problem. Not to uphold discount rate remains a trifle under the Bank’s mini¬
any particular law which may be deemed by the mum figure of 3%, and there is little
probability that
Executive of great importance, but to establish
any change in the latter will become necessary.
None
permanent justice and preserve the foundations of the European banks advanced rates this week, but
unimpaired'—this is what the President is bound to the Bank of Bengal raised its quotation from 4% to
keep before him, and Mr. Taft binds himself anew to do 5% and the Bank of Bombay also added 1% to
so.
He is himself, before all else, a jurist and satur¬ its
minimum, making it 4%. As pointed out else¬
ated in the conservatism and deliberation which where in this
issue, to-day’s weekly statement of
belong to that temperament and training. There has the New York Associated Banks is likely to show im¬
never been a time in the
history of the country when provement over that of last Saturday, while the in¬
the ancient rule of courts to “stand by the decisions”
quiry for accommodation remains quite light.
ought so firmly to be adopted by the people. The
people need to stand by both decisions and courts,
The monarchical system, in Portugal, which was
for they are the very citadel of the governmental threatened when
King Carlos was assassinated along
structure upon which we must depend for
peace and with the Crown Prince in February 1908, has in the
genuine progress.
brief space of one week been overthrown and a pro¬
visional
The
weekly statements of the principal Central
Europe reflect the strain imposed by last
Saturday’s quarterly settlements, and the position in
London has been so weakened through the
exportation
of gold to Egypt that the Bank of England
may deem
it advisable to protect its reserves by
bringing about
higher discount rates as well as by outbidding Con¬
tinental competitors for gold in the
open market.
Instead of private discounts having advanced since
the London rate was raised from 3% to 4%, there
has actually been a decline, short bills
being now
quoted at a slight fraction below 3J^%. By borrowing
freely, the Bank could no doubt bring the figure
appreciably nearer the official minimum. Thursday’s
statement discloses a loss of $15,760,000 in re¬
serve, a decrease of $3,185,000 in loans and a decline
in the ratio of reserve to liabilities from
50.39% last
week to 47.68% this week, the amount of bullion on
hand having fallen to $172,065,260. The institution is
thus none too well fortified against the demands for
gold that must be expected during the final quarter
of the year. It would be futile to raise the Bank rate
to 5% without first taking steps to advance the
open
market quotations, and, as already indicated, this
Banks of
latter
will in all likelihood be followed. The
situation calls for careful handling, but not for alarm—
course
the
Republican Government established, with
every promise of proving successful.
We have oftener
than once commented of late upon the unrest in both
Portugal and Spain and during the August elections
the progress made by the influential Republican
Party
was
emphasized. That the country was drifting
towards a revolution was the only deduction that
could be drawn; but that the upheaval would come so
swiftly had not been foreseen. The killing of Pro¬
fessor Bombarda, a noted Republican leader, by an
army lieutenant suffering from insanity, was the inci¬
dent that brought the discontent to a head, the asser¬
tion having been freely circulated that the murder
had been planned by the Loyalists, whereas the
Professor declared before expiring that his assailant
was insane.
The accounts of what have happened
in Lisbon during the week are fragmentary and
somewhat contradictory, owing to the complete de¬
struction of telegraphic as well as railroad communica¬
tion between the Portuguese capital and the prov¬
inces. The latest dispatches, however, afford a fairly
adequate description of the revolt.
The uprising had evidently been planned with
extreme care by some of the brainiest men in the
country. Not only had the anti-monarchical parties
succeeded in gaining notable political victories on a
scale that had made the conduct of government wellnigh impossible, but pains had been taken to inculcate
percentage of reserve is comfortably above the
average for the first week in October, the Government Republican ideas in the minds of the naval and mili¬
finances are sound and there is no excessive speculation
tary forces, the wealthy classes, the student bodies,
THE CHRONICLE
908
[VOL.
LXXXXI
and, wherever possible, the proletariat, so that when has already called on the Republican leaders. It was
the signal was given, revolt sprang up on all sides. reported on Thursday that Premier Teixeira de Sousa
Apparently it was during Monday night that the first and Minister of Justice Manuel Fratel had relinquished
shot was fired. Warships lying off Lisbon immediately the direction of affairs of State to the new government.
began to bombard the Royal Palace, revolutionary
Developments of the most far-reaching importance
troops attacked the regiments that remained loyal, the
police were quickly disbanded, and the populace joined may follow the week’s events in Portugal. The throne
the movement with great enthusiasm.
Meanwhile of King Alfonso is regarded as insecure. As in Portu¬
King Manuel had made his escape. His whereabouts gal, discontent has been brewing for months, and
for several days was unknown, but yesterday it was the present regime is unpopular with a considerable
announced that he had landed safely at Gibraltar. section of the population.
Within the last few days
there
have
been
murmurs
of
an open revolt in various
The Queen Mother and the King’s grandmother, the
Dowager Empress Maria Pia, also fled with him. parts of Spain. In fact, it is stated that the Portu¬
Much blood was shed in the streets of Lisbon before guese and the Spanish Republican leaders had planned
and after the hoisting of the new flag of the Republic, to start a revolution simultaneously, reputedly on
the number of casualties being estimated at 3,000, Oct. 13, the anniversary of the shooting of Professor
but the outcome seems never to have been in doubt Ferrer by the Spanish troups; but the killing of Pro¬
fessor Bombarda precipitated action in Portugal.
so general had become the dissatisfaction with the
existing regime. Precautions were promptly taken The best European opinion is that the downfall of the
to prevent the arrival at the capital of loyal troops Spanish monarchy is inevitable sooner or later.
Such
a
from the provinces, all railroads and bridges being
coup might open up the question of a union of some
sort
among the various Latin nations, not only on
destroyed. Presumably, also, early news of the up¬
of Europe but in South America.
the
Continent
Curi¬
rising was kept back from parts of the country where
the revolutionary agitation had not made great head¬ ously enough, it was in the month in which King Man¬
way.
At all events, no succor was forthcoming for uel was born that Brazil cast off the monarchy and
the Royal troops stationed in Lisbon, and as the great became a republic.
Incidentally, the President-elect
of
mass of the metropolitan citizens sympathized with
Brazil, Marshal Hermes da Fonseca, had paid a
the revolutionists, it was comparatively easy to pre¬ visit to the Portuguese King immediately prior to the
outbreak of the revolution, and had scarcely returned
serve order.
A republic was duly proclaimed and a provisional to his vessel when the palace where he had dined began
government, composed of men of eminence, was to be shelled. Further developments in Portugal as
formed, with Theophile Braga as President. The well as in Spain are therefore awaited with intense
interest throughout Europe, while the United States,
personnel of the new Administration is as follows:
President, Theophile Braga; Minister of Justice, Alfonse Costa; Minister though having no close relations with Portugal, cannot
of Foreign Affairs, Bernardino Machado; Minister of Finance, Bazilio
remain indifferent to the possibilities that have been
Telles: Minister of Public Works, Antonio Luiz Gomes; Minister of War,
Col. Barreto; Minister of Marine, Amaro Azovado Gomes; Minister of the
opened up.
Interior, Antonio Almeida; Civil Governor of Lisbon, Eusebio Leao.
The
President is
noted
Events have proved the wisdom of our port authori¬
philosopher and a
European academies. The Minister ties in exercising strict vigilance in examining all immi¬
of Foreign Affairs is described as a brilliant journalist,
grants arriving from the Continent of Europe. It is
well informed regarding international politics and now officially admitted that a “suspicious case” re¬
diplomacy. The Minister of Justice has attained moved from the steamship Germania on Sept. 26, and
national fame as a professor of law and an effective which subsequently proved fatal, was cholera. The
orator.
The whole body is calculated to command steamship Sant’ Anna also had a case of cholera
respect at home and abroad, and hence it may be able aboard on its way from French and Italian ports; the
quickly to establish a permanent government, provided victim, a man in the steerage, died on Sept. 25 and
no intervention come from any of the
leading European was buried at sea, while two other doubtful cases were
Powers.
Naturally many problems remain to be taken under observation when the vessel arrived at
solved.
First of all, vigorous resistance on the part Quarantine. The steamer Moltke, from Genoa and
of the Provinces may have to be overcome. Then, Naples, likewise had one
suspicious case among the
the attitude Great Britain will assume remains in steerage passengers. These incidents have caused the
doubt, inasmuch as that countiy had an agreement authorities to redouble their precautions against allow¬
to protect King Manuel whenever he should
apply for ing the disease to enter New York. The head of the
assistance. The disposition of the Portuguese colonies United States Bureau of Health and Marine Hospital
is another matter that will require delicate handling, Service (Dr. Walter Wyman) has come to this city to
especially as it is said that Britain and Germany long co-operate with the health officer of this port (Dr.
ago discussed the advisability of taking over control, Doty).
In addition to detaining possible “cholera
the one of the East African and the other the West carriers” on
arriving here, it has been arranged to in¬
African possessions, whenever Portugal should fail to crease the safeguards taken at the various ports of
provide proper administration. The Vatican may embarkation. Steerage passengers are subjected to
also seek to throw obstacles in the way of the new close observation for five days before being allowed to
government, inasmuch as the deposed King was a sail, and, needless to say, no person suffering from any
strict Catholic and had refused to follow the rigorous form of sickness is
permitted to take passage. Our
example of Spain in dealing with clerical' activities. Government, it is learned, has instituted many other
At this juncture, however, the indications are that the
precautions, not only at European ports and in New
republic will receive prompt recognition from the prin¬ York, but at Boston, at New Orleans, at Manila and
cipal European governments—the Spanish Minister elsewhere,with a view to preventing the scourge from
new
member of several
a
Oct. 8 1»10.
I
THE CHRONICLE
909
foothold on the mainland. Our people have rence of killing frosts. Human nature is fallible, and
every confidence in the ability of the responsible there is generally some tendency to give undue weight
authorities to protect in every way possible the health to adverse developments. As is invariably the case,
of the community.
Abroad a few fresh districts have there was deterioration in September this year, the
been infected, but the news from Russia and from general condition of the plant on the 25th being given
Italy is less alarming than it was last month.
by the Department as 65.9% of normal, against 72.1
getting
a
a
The State
Department will receive the commenda¬
supporting the Standard
Oil Co. in its fight for fair play in Austria-Hungary,
since acquiescence on this occasion might be misin¬
terpreted and in future held up as a precedent for dis¬
criminatory action against American industrial in¬
terests. There may be differences of opinion as to the
propriety of certain policies adopted by the oil com¬
pany in the conduct of its vast affairs at home, but
foreign competitors must not construe the Federal
suits instituted against the combination here as a sign
that the United States will permit other countries to
single out the company for unfair treatment abroad,
as apparently has been
designed by Austria. The
prompt protest offered by our Government should
prove salutary.
Our State Department is evidently
in sympathy with all movements calculated to extend
the country’s foreign trade.
Only this week it ar¬
ranged for a visit by Prince Tsai Suun, uncle of the
Emperor of China, to the Bethlehem (Pa.) Steel
Works, and it is now announced, apparently with
authority, that the company has been awarded con¬
tracts to build two battleships for China at a cost of
about $15,000,000.
tion of the business world for
Cotton
month earlier.
Sept. 25 last
But this is much better than
year,
when condition (58.5)
was
on
the
lowest for the date named since
monthly reports were
issued, only 3.9 points below 1908—the season
of record yield—and fractionally lower than the 10year average.
Greatest deterioration was indicated
in Louisiana, Mississippi, Texas, Arkansas and Okla¬
homa.
In each of these States, however, condition
is very much higher this year than last.
Since the
report was issued there has been an inclination in some
quarters to construe it as pointing to a comparatively
moderate production, or less than would be required
to supply the world’s consumptive needs for the
year.
This accounts for the advance in prices after the result
of the Department’s investigations was announced.
But, obviously, crop prognostications based upon con¬
dition figures at this time are apt to prove fallacious.
The crop on the whole is late, but it will continue to»
fruit until the plant is killed by frost. Whether that
is to be early or late the future will determine.
A fact
first
which should not be overlooked is that while condition
on
Sept. 25 this
same
year was 3.9 points below that of the
date of 1908 (the year when our record com¬
mercial crop of 13,828,846 bales was secured), the area
has in the meantime been increased by nearly
6%.
Further evidence of a lull in activity in mercantile
ginning and cotton condition reports of an
engaged attention on Monday of the affairs is furnished by our compilation of clearings
current week, but only the latter was in
any sense a for the month of September, which appears on the
market influence, and this solely because of the bullish first
page of this issue.
Of course, at New York,
construction put upon it. The ginning report made Philadelphia
and Boston much the greater part of
public by the Census Bureau of the Department of the loss disclosed as compared with last year is to be
Commerce and Labor at 10 a. m. covered the* amount accounted for
by the very noticeable diminution in
of cotton ginned between Sept. 1 and
Sept. 25, and stock speculation, but the decreases exhibited else¬
two hours later the Department of Agriculture issued where
are, as a rule, to be explained only by a decline
its report on condition for the last-named date. As in the volume of
ordinary business. Various reasons
regards the ginning statement, it is to be said that it are given for what may be termed the moderate de¬
could be taken as nothing more than an indicator of
pression that now exists in many mercantile lines,
the quite general backwardness of the
crop; a fact but the generally accepted view is that “politics” is
which had been already well substantiated by the
responsible for it. With so much of governmental
restricted volume of the receipts. It appears that regulation and interference in
progress, and more
there had been ginned to Sept. 25 this
year a total threatened, a feeling of uncertainty is prevalent, and
of 2,302,211 bales, against 2,568,150 bales to the this interferes with business.
There is a disposition,
same date last
year, 2,590,639 bales two years ago and too, on the part of merchants to await the result of the
1,532,602 bales in 1907. In Texas, where the crop fall elections before entering heavily upon new en¬
was known to be much further advanced in
maturity gagements.
than elsewhere in the belt, the amount
Our compilation shows that 42 of the 137 cities
ginned to
Sept. 25 was not only larger by nearly 200,000 bales furnishing comparative returns of clearings reveal
than during the same period of 1909, but also
appre¬ losses from September of the previous year, with the
ciably greater than in either of the four preceding falling off light, however, at most points. It is to be
years.
Alabama also showed a very moderate excess noted,also,that at some cities gains continue and are
over a year
On the other hand, the very large large—Austin, Houston and Galveston, Texas; Jack¬
ago.
falling off in such important States as Georgia, Mis¬ sonville, Fla.; Canton O.; Worcester, Mass.; Sacra¬
sissippi, South Carolina and Arkansas denotes to how mento and San Diego, Cal., and Portland, Ore., are
great an extent maturity was retarded by unfavorable conspicuous in this regard. Wholly as a result of the
weather during the summer.
decline at New York, the falling off in the
country
Condition reports belong in an entirely different as a whole in
September, as compared with 1909, is
category, and consequently exert more or less influence, 16.1%, cutting down to 2.5% the augmentation for
according to the interpretation put upon them, but, the nine months of the calendar year 1910. Con¬
for obvious reasons, they are not to be accepted as trasted with 1908 there are
gains of 1.2% and 31.8%,
conclusive * and especially antecedent to the occur¬ respectively,
and the increase over 1907 for the nine
official nature
910
THE CHRONICLE
months reaches
9%. Outside of New York there is a
gain for the month, but it is very meagre, being only
1.3%. For the period since Jan. 1, however, there
is an increase of 9.2% compared with last year.
Contrasted with 1908 and 1907 for either the long or
the short period, there are quite satisfactory increases.
At New York, owing in considerable, measure to in¬
activity in stock dealings, the month's total for this
year exhibits an important decline from a year ago,
and there is a small loss for the nine months.
is also a decline from September of 1908, but
There
for the
period since Jan. 1 a gain of 34.9% is recorded.
Comparison with 1907 gives increases of 3.3% and
7.9% respectively.
Transactions
on
the New York Stock
Exchange
exceptionally light in September 1910—less, in
fact, than in the corresponding month of any year
since 1900, and the smallest monthly total since June
1904.
The month's dealings in stocks were only
7,673,529 shares, comparing with 19,981,675 shares
in 1909 and 17,582,499 shares in 1908, with the nine
were
months'
total
[Voi.
LXXXXI.
Supplementing the remarks we have already made
upon the monetary position abroad, it will be in order
to present the detailed range of private discounts at
the principal foreign centres. Notwithstanding the
4% Bank rate, the
discounts in London
3%% is quoted for
60-day spot bills and 33^% to 3^% for bills to arrive,
with 3^% for’ 90-day spot bills and 3%% for long
bills to arrive. These low figures, however, may not
continue, inasmuch as the Bank of England is expected
to enter the market with a view to making
its rate
more effective.
At Paris it is usually possible to
negotiate bills under the official charge of 3%; the
range is 2%%to3%,with a tendency to pay more atten¬
tion to the decrease in the gold held by the Bank
of France. Since the Imperial Bank of Germany
raised its minimum from 4% to 5%, there has been less
tension in the Berlin money market, notwithstanding
that in the interval the Bank has lost a large sum
of cash and has been obliged to expand its note cir¬
culation and loans to an enormous extent; the range
there is 3%% for spot bills and 4% for bills to arrive.
Amsterdam quotes 3%% to 4%, the latter being level
have weakened.
open market
A minimum of
130,161,971 shares, or much below
1909, and lower than in earlier years back to and in¬
cluding 1905. Bond transactions likewise were ap¬ with the Bank rate. At Brussels there has been a
preciably less than in 1909 or 1908 during September, recession to 3%%, or ■% of 1%, below the official
Vienna closes the week unchanged at
and for the nine months the smallest, with the ex¬ minimum.
ception of 1907, since 1900. The nipe months' sales 3%%. The only banks that announced a change in
of all classes of bonds this year, at 484 millions of rates this week were the Bank of Bengal and the
dollars, compare with 1,026 millions in 1909. At Bank of Bombay, the advance in the former instance
Boston the September 1910 share sales were only being from 4% to 5% and in the latter from 3%
447,106, against 1,187,555 shares in 1909, with the to 4%.
nine months' totals 9,309,335 shares and 10,572,857
The Bank of England for the first time in many
shares, respectively. At Philadelphia 420,879 shares
were dealt in during September this year,
against weeks secured, at the minimum price, most of the
1,224,617 shares a year ago, and the nine months' £700,000 gold offered in the open market on Monday.
aggregate is 6,284,961 shares, against 7,105,955 shares. Yet the shipments during the week were so heavy
Bond operations at both cities have been very much that on Thursday a decrease of £2,935,688 bullion was
less this year than last.
disclosed, although since then £300,000 bar gold has
The exhibit of clearings for the Dominion of Canada been bought by the Bank.
It is known, too, that
continues very satisfactory. For the thirteen cities to-day a large consignment of gold will be forwarded
included in our compilation from which comparative to Egypt, although, on the other hand, £500,000 is to
figures are received, the aggregate for September 1910 be received from Brazil. According to our special cable
shows an increase over the like period of 1909 of 20.6%, from London, the ratio of reserve to liabilities declined
all cities sharing therein. The total for the period from 50.39% last week to 47.68% this week. This,
since Jan. 1 is, moreover, .21.7% greater than that however, is still appreciably above the average carried
for the nine months of 1909.
Compared with 1908 at this season during the last decade. The total decrease
the gains are 42.0% and 50.8%, respectively.
in reserves was £3,152,059, while the reduction in loans
amounted to only £637,109, showing that the stock
LCotton operatives at Lancashire (Eng.) have finally market paid off few of its obligations. The British
agreed to arbitrate the case of the employee whose Exchequer distributes large sums at the quarterly
discharge from the Fern Mill at Oldham precipitated periods, hence a shrinkage in public deposits of
a strike in that factory.
Efforts have been making £5,172,026. Other deposits increased £1,704,051.
by London Board of Trade representatives to bring The amount of bullion on hand has fallen to £34,413,about some settlement ever since the Federation of 052, against £40,329,000 six weeks ago and £39,Master Cotton Spinners announced that a general 709,000 in the middle of September.
Our correspond¬
lockout would be enforced, beginning Monday, October ent further advises us that the loss was in greatest
3rd, unless, the trouble at the Fern Mill was arranged measure due to large exports, mainly to Egypt; there
before that time. The lockout became an accom¬ were also, however, heavy takings from the Bank for
plished fact on the date mentioned, but that did not shipment to the interior of Great Britain. The inflow
cause any relaxation of efforts to
arrange the difficulty was made up entirely of moderate purchases in the
by arbitration, and success was finally attained on open market. The details of the movement into and
Thursday, the operatives receding from the stand out of the Bank were as follows: Imports, £261,000,
they had taken* that the discharged employee be wholly bought in the open market; exports, £2,126,000
re-employed in his former position pending de¬ (of which £1,960,000 to Egypt, £100,000 to Turkey
termination of his case. Work will
consequently be and £66,000 to various destinations), and shipments
resumed on Monday next.
•
.
of £1,071,000 net to the interior of Great Britain.
.
-
#
,
Oct. 8 1910.1
Interest rates at New
THE CHRONICLE
York have not shown
any, sustained
stringency that some persons had pre¬
dicted. Call money during the present week has
averaged only 2%%, and six months’ accommodation
has been plentiful at as low as 4%%. Not only so,
but currency movements point to a better weekly
Bank statement tO-day. The demands from the West
traces of the
have been below rather than above normal for the
part of October, only one small transfer of cur¬
rency to New Orleans (involving $100,000) was re¬
first
911
firmness, blit the evidences of this are not
convincing. The truth is that the offerings of cotton
bills, despite the continuance of the banking deadlock,
are not coming up to expectations, while the shipments
of grain are proving somewhat disappointing to those
dealers in exchange who had calculated upon securing
large supplies of bills; at the same time very few long
finance bills are being drawn. Therefore, no abnormal
bidding is needed to impart firmness to the market.
The volume of business transacted daily is far below
that usually experienced in the first half of October;
indeed, the dulness is so pronounced that the strength
ported, there have been no gold shipments to the
Dominion, Stock Exchange borrowing has remained
very light, the discounting of commercial paper has or weakness of the market has not been thoroughly
been on a rather small scale, and it is reasonable to look tested at any time during the week. The recognized
for some return of the heavy amount of cash dis¬ experts at the head of the principal foreign exchange
bursed last week in the form of dividends and interest departments look for freer offerings of remittance
payments. Foreign exchange rates have not again later in the month, and for declining fates, but as
brought up discussion of a possible movement of gold calculations have been upset so often during the
either to or from New York; the present indications current year, they express opinions with diffidence.
are that there will be neither an inflow nor an outflow
No grave complications are looked for at London,
for some time to come, with the chances in favor of Berlin or Paris, although the Bank of England ad¬
the former later in the year.
The Treasury Depart¬ mittedly may have to enter the money market in
ment is better off than it was a month ago, and no issue order to stiffen private discounts so as to militate
of Government bonds may be made in the near future. against additional withdrawals of gold. Our own
The demands upon the money market through the money market is extremely dull.
flotation of new securities continue restricted, owing
Compared with Friday of last week, sterling ex¬
to the timidity of underwriters to offer large loans change on Saturday was little changed on the follow¬
until the investment absorption broadens.
ing basis: Sixty days, 4 8335@4 8340; demand 4 8635
Viewing it from all angles, therefore, the monetary- @4 8640 and cable transfers 4 8670@4 8675. On
outlook may be regarded as fairly satisfactory. This Monday demand declined to 4 8630@4 8635,. cable
week fears have been expressed lest a speculative boom transfers to 4 8665@4 8670 and sixty days to 4 8315
be engineered, entailing a greater inquiry for funds @4 8320. On Tuesday demand recovered to 4 8635
than could be readily supplied, but of this there would @4 8640, cable transfers to 4 8675@4 8680 and sixty
appear to be very little danger; genuine trading in days to 4 8315 @4 8325.
Demand on Wednesday
stocks is still narrow, and the more powerful banking reached 4 8645 @4 8650, cable transfers 4 8680@
groups are not striving to bring about reckless specula¬ 4 8685 and sixty days 4 8325 @4 8335. On Thursday
tion, since they know that monetary troubles might demand declined to 4 8640@4 8645, cable transfers
to 4 8670@4 8680 and sixty days to 4 8320@4 8330.
upset such plans.
The range for time loans closes the week as follows: On Friday moderate offerings caused a decline of %c.
60 days, 4@4%%; 90 days and four months, 4%@
The following shows the daily posted rates for
4%%; five and six months, 4% @4%%. The offer¬
ings are large enough to satisfy current demands, but sterling exchange by some of the leading drawers.
were the latter to increase materially, the apparent
Af<m., Tuts.,
Fri.,
Wttf., Thun.i Fri.,
surplus might be rapidly absorbed. Call money again
Sept.30. Oct. 3. Oct. 4. Oct. 5. Oct. 6. Oct. 7.
touched 3% on Monday and also on Wednesday, but Brown
84
84
84
84
84
JOOdays 4 84X
87
87
87
Bros. * Oo
87
87
...ISlght.. 4 87
renewals each day have been made at 2%%; on Tues¬ Kidder. Pea4
84
84
84
84
84
84
X
/60 days
4 87
87
87
87
87
87
body A Co
(Sight
84 X
84 X
of British
84X
/60days 4 84K
84X
84X
day a minimum of 2%% was recorded, while yes¬ Bank
87 X
87 X
87 X
North America. —)Sight.. 4 87 X
84 X
of
84
g* 84
gH
/60 days 4 84 X
terday the range was 2% to 2%%, with 2% quoted Bank
87
87
87
Montreal....... ...1 Sight.. 4 87
87
87
4
Canadian Bank
84
84
84
J60 days
84X
84X
84X
at the close.
There have been no new developments in
87
87
87
87 4
of Commerce
87
\ Sight.. 4 87
84
84
84
84
160 days 4 84 X
84*
Iekelthe commercial paper market. Business moves slowly Heideibach,
1 Sight.. 4 87
87
87
87
heimer A Co
87
87
84
84
Lasard
84
84
160 days 4 84
84
from day to day at unchanged rates, with the demand
87
87
87
87
87
Freres
Sight.. 4 87 X
84
84
84
Merchants’ Bank
84X
84X
JOOdays 4 84X
4
87
87
87
87
87
87 X
of
Canada
X
X
X
X
X
...1 Sight'.
chiefly for the choicest six months, bills, of which
there is an adequate supply. The range is 5%@5%%
for prime for to six months' single-name bills, 6@
The market closed on Friday at 4 8310@4 8320 for
6%% for less attractive names and 5%@5%% for 60 60 days, 4 8630@4 8635 for demand and 4 8660@
to 90 days, endorsed bills receivable.
4 8665 for cables. Commercial on banks was quoted
at 4 82% @4 82% and documents for payment 4 83@
Foreign exchange rates have fluctuated meaning- 4 83%. Cotton for payment ranged from 4 82% @
lessly within a narrow range all through the week, 4 82%, grain for payment from 4 83%@4 83%.
demand being quoted at 4 86% @4 86% and cable
transfers at 4 86% @4 86%. Operators are therefore
The following gives the week's movement of money
left in doubt as to the next decisive movement. They to and from interior by the New York banks.
had counted upon a decline following the extraordinary
Received by
Net Interior
Skipped by
demands that immediately preceded Qct. 1, but no
AT. Y. Banks. N. Y. Banks.
Week ending Oct. 7 1910.
Movement.
decline has occurred, although at the close last night Currency
$5,780,000
$8,300,000 Loss $2,520,000
Gold
1,647.000
2,300.000 Loss
653.000
rates were at the low point for the week.
It is asserted
Total gold and legal-tenders
$7,427,000 $10,600,000 Loss $3,173,000
that manipulation has been in part responsible for the
...
„
_.
;
SMN*e
912
THE CHRONICLE
With the
as follows.
Week
Sub-Treasury operations the result is
ending Oct. 7 191i.
Banks’ interior movement, as above.
Sub-Treasury operations
Total gold and legal-tenders
The
in the
*7,427,000
32,100,000
*10,600,000 Loss
34,800,000 Loss
$3,173,000
2,700,000
*39,627,000
*45,400,000 Loss
$5,873,000
following table indicates the
principal European banks.
amount of bullion
Oct. 6 1910.
Oct. 7 1909.
Banks of
Gold.
Silver.
Total.
Gold.
Silver.
Total.
£
£
£
£
£
£
England.. 34,413,052
France
..
Germany
133,986,920 33,641,440
33,250,350 13,763,250
Russia a.. 145,389,000
7.247.000
Aus.-Hunb 65,538,000 12,505,000
Spain.... 16,353,000 31,006,000
Italy d___ 38,506,000 3,326,000
Nethlands 10,067,000
1,821,900
Nat.Belg.d
Sweden
Swltz’land
..
Norway..
Net Change in
Bank Holdings.
Out of
Banks.
5,326,667
4,448,000
6,229,000
2,023,000
2,663,333
34,413,052
167,628,360
47,013,600
152,636,000
68,043,000
47,359,000
41,831,000
11,888,900
7,990,000
4,448,000
6,229,000
2,023,000
34,913,340
34,913,340
144,793,080 35,911,480 180,704,560
34,125,700 11,462,100 45,587,800
132,667,000 7,460,000 140,127,000
57,416,000 12,279,000 69,695,000
16,050,000 31,621,000 47,671,000
4,000,000 41,250,000
3,041,000 13,566,000
2,081,667
6,245,000
4,382,000
4,382,000
4,940,000
4,940,000
1,727,000
1,727,000
37,250,000
10,525,000
4,163,333
Total week 485,629,989 105,972,923 591,502,912 482,952,453
107,856,247 590,808,700
Prev. week 494,021,227 106.841,903 600,863,130 485,820,668 109,369,470 595,190,138
\
The total of gold in the Bank of Russia includes the balance held abroad—that
is, the amount held for Russian account in other Continental banks. The propor¬
tion so held and consequently duplicated in the above statement is about one-eighth
of the total this year, against about one-tenth a year ago.
bThe Austro-Hungarian Bank statement is now issued in Kronen and Heller
instead of Gulden and Kreutser.
The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 80 cents.
As the
Kronen has really no greater value than 20 cents, our cable
correspondent in Lon¬
don, in order to reduce Kronen to Pounds, has altered the basis of conversion
by
dividing the amount of Kronen by 24 instead of 20.
d The division (between gold and sliver) given In our table of coin and bullion in
the Banks of Italy and Belgium is made from the best estimates we are able to
obtain;
it is not claimed to be accurate, as the banks make no distinction In their
weekly
returns, merely reporting the total gold and silver; but we believe the division we
make is a close approximation.
a
LXXXXI.
It may
both
Into
Banks.
[VOL.
also be said that the platform declarations of
parties are satisfactory to conservative men.
There had been
idea that the
Republican con¬
vention, having elected Mr. Roosevelt its temporary
Chairman after a vigorous contest
against the regular
party nominee, would give itself up to endorsement
of the extremely radical doctrines advocated
by Mr.
Roosevelt in his recent Western speeches.
Nothing
of this sort occurred.
Indeed, it has been pretty
definitely hinted that a platform embodying most of
these declarations was distinctly rejected, in advance
of the convention, by the very
delegates who supported
Mr. Roosevelt for the
chairmanship. Briefly summed
up, the Republican platform endorses the Taft Ad¬
ministration, pays a tribute to the retiring Governor
of New York, promises to drive
corruption from
State politics, approves the Tariff Law of
1909, and
endorses the President’s proposition for future tariff
revision by individual schedules. The Democratic
platform, as was to be expected, attacks the Tariff
Act as a “flagrant breach of faith”
by the party which
enacted it; promises to hunt down
legislative cor¬
ruption, for which it blames the dominant party;
and, in particular, attacks with the greatest emphasis
Mr. Roosevelt’s so-called “New
Nationalism”, basing
its own position on a strong re-affirmation of the
constitutional principle that powers not
expressly
delegated to the Federal Government are withheld.
In the general run of comment on the result of these
two conventions, one is
impressed by the fact that,
after satisfaction has been expressed with the Governor¬
ship nominations and the campaign platforms, dis¬
appointment is general over the minor offices on the
tickets. Where men who have been placed in nomin¬
ation are not for one reason or another disliked
by
some of the voters,
they are frequently unknown in
public life. Yet the offices thus filled include places
commanding such enormous financial and political
patronage as the offices of State Engineer and Comp¬
troller. As a matter of fact, the selection of all these
some
t
THE NEW YORK STATE POLITICAL
r
CONVENTIONS.
nominations and the party convention
platforms of New York State are always events of
particular interest in a year of strenuous political
conditions. In view of the great political importance
of this State in a national
campaign, the action of the
conventions attracts attention and exerts great
influ¬
ence on the
political movement elsewhere. On the
other hand, it has become a tradition of
politics that,
on occasions of this
sort, New York State politics are
apt to be distinguished by violent contests within the
parties themselves, frequently leading to unexpected other candidates was, so far as concerned the con¬
results at the conventions, and sometimes to results ventions
themselves, a hasty and haphazard affair.
which are distinctly unfortunate. One need
only
Undoubtedly, the names had been carefully com¬
recall the chaotic condition of party
politics in this pared and considered by some one in the party’s
State during the so-called “landslide
years” 1882 and councils. But the testimony, both at Saratoga and
1890, when the dominant party in particular was at Rochester, was to the effect that each
convention,
divided into factions whose attacks upon one another w'earied
by protracted sessions, all-night conferences,
were scarcely less bitter than their
joint attack on the and disputes over questions of party control, found
opposition party.
itself in a state of something like exhaustion after the
In view of this traditional
possibility, and of the Governorship nomination had been effected. The
visible conflict among the leaders of both
parties in quite unavoidable result was, hurried endorsement of
New York on the eve of the
it
nominations,
must be practically every other candidate officially proposed.
said that the result of last week’s conventions is This state of
affairs, so far as regards the secondary
gratifying. Each party has placed at the head of its nominations, is nothing new in politics. It is a
veiy
ticket, in the governorship nomination, a citizen of old story, in the Presidential years, the Vice-Presi¬
high standing, who could be safely trusted to administer dential nomination, with all the immense possibilities
the great responsibilities of the office.
Mr. Stimson, attaching to that office, has
repeatedly been settled
the Republican nominee, is a
lawyer of professional on the happy-thought principle, by a vote of acclama¬
distinction, considerable achievement and high per¬ tion by delegates anxious for little except to end the
sonal character.
Mr. Dix, the Democratic
nominee, proceedings and get home.
is a well-known man of affairs, whose rise to
prominence
Undoubtedly, it is this phase of our political move¬
in his party has been rapid in
proportion to the party’s ment which has led to so general an effort at the
return from its delusions of a dozen
years ago to the so-called direct nominations, a system already
adopted
paths of political sanity and common sense. With in some other States. This
change in our nomination
these two candidates, the conservative citizen
may be law was pressed by Governor Hughes during the later
assured of a conservative administration of
the years of his administration.
The bill which embodies
Governorship, whichever party wins.
these provisions failed in the recent session of the
The party
Oor, 8 1910.J
THE CHRONICLE
913
and on the other hand to a further advance in operating
Legislature, but it is worth reviewing. In a general
The position of the Louisville & Nashville
way, it may be said that this Hinman-Green measure efficiency.
is in any respect unique, inasmuch as it managed to
proposed an original enrollment of each party's
save a considerable portion of its gain in gross receipts
supporters, based on the declaration of a qualified
voter that he intended to support in general at the so as to yield an increase in net, notwithstanding
next election the party for which he enrolled himself. a large augmentation in expenses; while the experience
Individual nominations were to be effected by petitions of so many other large systems has been that in face
of very large additions to gross receipts there would
signed, so far as concerned the general provision, of
one-half of one per cent of the vote cast by the party in be little or nothing left to add to the net earnings,
that district at the preceding Governorship election. owing to the great rise in operating cost.
Stating the results in brief, operating expenses for
These petitions were to be filed thirty days before the
1909-10 were $5,358,079 heavier than for 1908-09, but
primary, which was itself to be held on the seventh
Tuesday before election or, in a Presidential year, as gross earnings increased no less than $7,007,491,
on the last Tuesday in March.
In addition to any this left a gain of $1,649,412 in net. It should be
such independent nomination by petition, the State noted that despite the considerable addition that has
Committee, which itself was to be selected by direct been made to net, the experience of the Louisville &
individual party vote, was empowered by this bill to Nashville has been like that of other roads in showing
nominate candidates, so that the primary would proportionately a smaller increase in net than in
have before it an official as well as one or more non¬ gross.
For, while the ratio of gain in gross has been
official prmaiy tickets. The vote of the primaries over 15%, the ratio of gain in net is only a little over
was to choose from these various nominees the actual
10%. It deserves also to be stated that the ratio
of expenses to earnings, not counting taxes, was
ticket for the pending election.
Each of the two conventions of last week felt itself 66.72% for the late year, against 65.22% the previous
called upon to embody in its platform a plank concern¬ year.
The large expansion in gross earnings is the more
ing this direct nomination movement. The Republican
platform, referring to Governor Hughes's efforts in noteworthy in view of the falling off that must have
behalf of directly nominating party candidates and occurred in the cotton shipments because of the very
directly electing party officers, states that “we promise small crop of that staple raised in the season of ,1909.
legislation which will enact these principles into law." On the other hand, the South is enjoying wonderful
The Democratic platform declares “in favor of State¬ development, and the Louisville & Nashville, by the
wide direct primaries, to ensure to the people the excellent service it is furnishing and the liberal facili¬
right to choose members of political committees and ties it is providing, is doing much to promote such
nominate candidates for public office."
development, and is in turn deriving extra benefits
It should not be forgotten, either,
It will be observed that neither of these two planks from the same.
commits itself positively to a definite plan, but merely that the road has lines connecting with the iron and
recognizes the general principle. This has been made, steel districts of the South, where business activity
the subject of some adverse crticism, which to us during the twelve months under review was unusually
appears unjust.
Even those who most warmly favor pronounced.
Of course, following the panic of 1907, the road, like
in principle the direct nomination movement have
been frank in conceding several possible objections others in the South, experienced a serious setback,
which ought to the largest possible degree to be re¬ as is indicated by the fact that from $48,263,945 in
moved before final enactment of the law.
The 1906-07 gross earnings in 1907-08 dropped to $44,questions of expense of primaries, possibilities of 620,281. It is also true that in 1908-09 there was but
unfair enrollment, and conceivable control of primary moderate recovery, gross earnings rising only to
votes by demagogues, should never be lost from sight. $45,425,891.
Allowing for all this, the great upward
made
in
strides
1909-10, when gross earnings advanced
To recognize these offsetting considerations is by no
from
means to reject the general and underlying principle.
$45,425,891 to $52,433,382, is nevertheless a
But since the whole question is as yet in a highly noteworthy achievement, as this increase leaves the
experimental stage, it is not to be regretted that New total of the gross over $4,000,000 in excess of the
York is moving slowly in the matter, watching the aggregate for 1906-07, which was the previous maxi¬
experience of other States in what is quite largely the mum.
What lends additional significance to the gain of over
first important test of the direct primary experiment,
and making up its mind on the basis of ascertained 15% in the gross revenues in a single period of twelve
facts before committing itself to any final scheme of months is that it has been made in face of a decline in
the average rates received.
direct popular nominations.
The tendency of freight
rates, indeed, on the Louisville & Nashville appears
to be steadily downward.
It may be that the decline
follows from an increase in the proportion of bulky
LOUISVILLE & NASHVILLE’S EXCELLENT
or low-class freights being carried—those that take
SHOWING.
The Louisville & Nashville RR. makes a marvelously and will bear only very low rates—but that does not
favorable showing in its annual report for the twelve change the fact that the average itself is declining and
months ending June 30 1910.
Measuring the available that the road is realizing considerable less per ton per
income by the dividend requirements, there are few mile than it did only a short while back. For 1909-10
other large systems in the country that can make an the average obtained was only 7.51 mills per ton mile,
equally favorable exhibit for this period of twelve against 7.63 in 1908-09 and 7.79 mills in 1907-08.
But while the large expansion in traffic and in
months. The result is due, on the one hand, to a
most noteworthy expansion in traffic and revenues, revenues was helpful in enabling the company to
014
make
a
the
THE CHRONICLE
satisfactory yield in net, in the last analysis it is
good operating results that explain the year’s
achievement. In reviewing the report for the twelve
months preceding, we pointed out what had been
accomplished in that respect in 1908-09. Some of the
figures then given are worth repeating, as they make
the further achievement
along the same lines in
1909-10 all the more striking.
In brief, though the
company had carried 24,403,952 tons of freight in
1908-09, against 23,256,502 tons in 1907-08, and had
moved 4,255,981,335 tons one mile,
against 4,020,348,694 ton miles, it had in that
year effected a saving of
over a million miles intrain
mileage, the number of miles
run by revenue trains
having been only 15,351,129,
against 16,367,659 miles run in 1907-08. In 1909-10
the miles run by revenue trains in the
freight traffic in¬
creased again, reaching 17,486,617
miles; but this was
because the number of tons carried
jumped from
24,403,952 tons to 30,155,217 tons, while the number
of tons carried
one
mile increased
no
less than 863
millions, rising from 4,255,981,335 to 5,119,038,899.
In other words, while the number of tons of
freight
carried increased over 233^% and the number mov d
one mile over
20%, the increase in the number of miles
run by the trains was less than
14%.
It follows, of course, that there was a further addi¬
tion to the train-load, which for 1909-10
averaged 278
tons, against 263 tons in 1908-09 and only 234 tons in
1907-08.
Owing to this higher train-load, the trains
earned more per mile run,
notwithstanding the
decline in the average rate received. For 1909-10
they
earned $2 09 per mile,
against $2 00 in 1908-09 and
$1 82 per mile in 1907-08.
In the late year, however,
the net earnings per ton per mile fell off
slightly, owing
to
the lower rate
realized.
The
rate
per ton per
{VOL.
LXXXXI.
We should
judge that for the new or current fiscal
the margin above the dividend requirements
year
would
again be greatly reduced. Wages are on a much
higher scale and savings and economies in operation
have apparently—for the time
being, certainly—
reached their limit.
Hence it happens that for July
and August 1910 net
earnings have fallen $662,016
behind, notwithstanding a gain of $818,632 in gross
receipts. But at any rate the analysis we have made
above shows that there is a
large surplus to encroach
upon.
The company’s bonded debt in the hands of the
public decreased $2,151,000 during the year. Some
new bonds were issued
but they went to swell treasury
assets, while the year’s bond redemptions were large.
,
THE ATCHISON TOPEKA & SANTA FE REPORT.
We imagine no annual
report of any railroad com¬
pany will be so carefully or so closely scrutinized as
will that of the Atchison
Topeka & Santa Fe Railroad.
That is
so
because
year under review the
this large system of lines
unusually pronounced and because, at the same
augmentation in
was
during the
expenses on
time ^President
Ripley in his public utterances has been
outspoken in saying that the margin of profit in
very
the railroad
transportation business under present
conditions is not what it should be and that there is an
urgent call for better rates. Some newspaper critics
have been contending, too, that the
company’s main¬
outlays during 1909-10 were on an unduly
liberal scale. Study of the annual
report does not
bear out such criticisms. The maintenance
outlays
were
undoubtedly liberal, but they cannot be said to
have been unduly so, and
they assuredly were mot
tenance
excessive.
There is
certainly warrant for
careful study of the
mills, but the expense expense accounts, for while gross earnings were added
per ton per mile fell only from 5.21 mills to 5.10 to in a most substantial
way, rising from $94,265,716
mills, leaving the net earnings per ton mile for the to $104,993,194, the
gain for the twelve months thus
latest year 2.41 mills, against 2.42 mills.
being $10,727,478, the augmentation in expenses was
In brief the trains earned more
per mile run simply of such magnitude that net earnings were cut down
because they carried more tons in each train. In like from
$36,770,521 to $35,231,375. The increase in
manner
aggregate net earnings for the Louisville & expenses was $12,266,624, and of this
$4,922,729 is
Nashville were of larger
magnitude, simply because found under the head of maintenance of way and
the number of traffic units was so
greatly increased; structures and $1,656,150 under the head of main¬
each separate unit earned less, both
gross and net, but tenance of equipment, making the total
augmentation
there were 863 millions more of such units. We have
on maintenance account
$6,578,879. The increase in
gone thus at length into the statistics so as to indicate the so-called
“transportation expenses,” covering the
what a large share in the improved results
operating moving of traffic, was also heavy, amounting to
efficiency has played, since no direct comparison with $5,146,961—this, too,
notwithstanding the attaimnent
the operating expenses of the
years preceding 1907-08 is of further efficiency in operations, as is evident from
possible, owing to the fact that a new system of an increase in the
average train-load from 366 tons
accounting was introduced in that year by the Inter- to 389 tons. No one questions, of
course, the legitim¬
State Commerce
Commission; one main change was acy of the large additions to the transportation
that expenditures for additions and betterments can
expenses, it being recognized that these follow as a
no longer be included in the
expenses, whereas prevL matter of course from the great
expansion in the
ously they had invariably been so included.
volume of traffic and the higher cost of labor.
It
Owing to the gain in net and some improvement in does not seem to be generally appreciated that the
“other income,” the surplus
above fixed charges for same considerations apply in the case of the main¬
the twelve months of 1909-10 was no less than
$10,- tenance outlays.
413,256, against $7,721,388 in 1908-09. If we go a
There is a further point to be borne in mind with
year further back—to 1907-08—we find that the reference to these
maintenance charges. In the
surplus then above fixed charges on the operations
preceding year the management was practicing great
of the twelve months was
only $2,824,456. This, economy in that respect, owing to the intense business
obviously, reflects a wonderful transformation in a depression prevailing, and as a
consequence such
very brief space of time.
With $10,413,256 surplus
were restricted and curtailed in every direction.
outlays
above fixed charges for
1909-10, the call for dividends In other words, the maintenance outlays in that
year
was only
$4,200,000.
were unusually low, and this leads to a
striking conmile fell from 7.63 mills to 7.51
a
Oct. 8
1910.]
THE CHRONICLE
trast in the
comparison with 1909-10, making it appear
.as if the additions had been
larger than they should
have been. Take the expenditures upon way and
structures for example.
In 1909-10 no less than
$17,807,136 was spent on that account, and this
-compares with only $12,884,406 so spent in 1908-09,
but that this last was very low is evident from the
fact that in 1907-08 $14,120,828 had been spent in
that way and in 1906-07 $15,286,062.
As compared
with this latter total, the 1909-10 expenditures upon
maintenance account, it will be observed, show an
increase of only 2]/^ million dollars.
In the meantime
the average length of road operated has risen from
9,273 miles to 9,916 miles, there has been an enormous
-expansion in the volume of traffic moved (which
naturally adds to the. maintenance requirements by
reason
of the increased
-also been
a
wear
and tear), and there has
great rise in wages.
915
the year
there was a reduction in the funded debt of
$9,213,867, but this is in a measure misleading, since
$43,959,000 of convertible bonds were exchanged into
capital stock. This would have involved a reduction
of funded debt in that amount,
of convertible bonds were
except that two issues
put out during the year.
On the two issues
$30,275,367 still remained to be
be paid at the close of the fiscal
year. The addition
to the total of stock
outstanding was $43,959,000—
representing the amount of convertible bonds ex¬
changed into stock.
The report shows that the
company has considerable
new
mileage under construction in Western Texas
and has also much second track work under
way at
various
points; but the management are now inclined
proceed slowly * in incurring further new capital
outlays. President Ripley, after noting that the
property is in excellent condition, and that the company
has made provision for its
present financial needs,
has this to say as to the
policy of the management.
“However, in view of the unsettled economic con¬
to
Figured out on a
mileage basis, $1,795 per mile was spent in 1909-10,
against $1,315 per mile in 1908-09, $1,500 in 1907-08
and $1,648 in 1906-07.
Accepting the last mentioned
amount as a fair standard the
outlay for 1909-10 does ditions of the country and the impossibility of accur¬
not seem to indicate
any inordinate increase, bearing ately forecasting the trend of current events, especially
in mind the growth in the volume of traffic and the as applied to the railroad interests, your directors feel
that it is
higher price that had to be paid for labor and also for to those necessary to proceed with caution, even as
improvements and extensions which are most
•certain classes of materials.
A similar conclusion is reached after a consideration
of the expenditures on
equipment account. These
fell from
$14,246,621 in 1907-08
to
$13,903,897 in
up to $15,560,047.
For the latest year the
expenditures per mile of road
upon equipment account have been $1,569, which
compares with $1,419 for 1908-09 and $1,513 for
1908-09, and
1907-0S.
now
for 1909-10
are
Between this last and the
figure for 1909-10
the
difference, it will be seen, is very slight,and can
easily be explained by the rise in wages and the
greater volume of business done.
That President Ripley is right in
asserting that
existing rates are not as remunerative as they should
be is obvious from one of the
comparative tables in
the report.
Since 1906-07 the total of gross revenues
(including income from other sources) has risen from
$94,436,574 to $107,543,250. Notwithstanding this
increase of over $13,000,000,
however, in gross, the
surplus above fixed charges for 1909-10 was only
$20,425,784, as against $21,168,724 in 1906-07—
this in spite of the fact that bond interest in the
interval has increased comparatively little. In the
meantime there has been a large addition to the
amount of capital stock
outstanding.
Having regard to the conditions prevailing, the
income showing in its complete form for 1909-10 is
not unsatisfactory.
After providing for fixed charges
and 6% dividends on the common stock and
appro¬
priating $4,000,000 for additions and betterments
and $703,218 for fuel reserve, a small
balance, namely
$365,846, remains on the operations of the twelve
months.
In the previous year, however, the
company
was able to set aside no less than
$9,000,000 for ad¬
ditions and betterments.
It seems unfortunate that the
company should not
be able to count on gains in net commensurate with
the increases in gross, seeing how large are its
require¬
ments each year
desirable from the standpoint of the
public welfare
and which are imperatively demanded.”
The
point that the
has made provision
financial needs deserves to be empha¬
sized, for conditions now are not such as to render it
easy to procure considerable sums of money on new
stock and bond issues.
Besides the $30,275,367 still
to be paid in on the convertible
bonds, the balance
sheet shows that the company June 30 1910 had
company
for its present
$34,814,895 of cash
on
hand and in bank.
APPLYING EARNINGS TOWARDS
IMPROVEMENTS.
We make
for the
following letter from Prof.
Adams, the Statistician of the Inter-State Commerce
Commission, received by us on Monday of this week:
room
INTER-STATE COMMERCE COMMISSION
Bureau oj Statistics and Accounts •
WASHINGTON
September 30 1910.
Editor Commercial and Financial
Chronicle,
P. O. Box 958, New York, N. Y.
Dear Sir.—In your
issue of Sept. 17th, in an editorial on
a statement respecting the accounts
Inter-State Commerce Commission
which is not borne out by an examination of those accounts.
You say, in effect, that in the case of improvements to
prop¬
erty “the funds for the purpose must be obtained by issuing
new capital/’
I am sure this statement is made through
inadvertence on your part, and I venture, therefore, to
675, you make
promulgated by the
page
call your
attention to it.
What you had in mind is doubtless the rule that all im¬
provements of whatever character, regardless of the source
from which the funds are drawn, must, be
charged to the
appropriate property account. This, you will readily
perceive, is quite a different matter.
Very truly yours,
HENRY C. ADAMS,
In charge of Statistics and Accounts.
Of course, the Inter-State Commerce Commission
has not yet gone so
far as actually to forbid the use of
surplus earnings in the making of improvements, and
hence it
was
not
strictly accurate
on our
part to say
for new capital. During the twelve that funds for such improvements must necessarily
be
months covered by the present report, it
appears,the obtained by issuing new capital. As yet the require¬
new capital expenditures fell but little short of
$30,- ment is merely that if any surplus income is applied in
000,000, the exact amount being $29,585,133. During paying for improvements, the fact must
appear both
916
THE CHRONICLE
in the income account and the balance sheet.
De¬
priving the roads altogether of the use of income in
that way—or, what is the same thing, compelling them
to adopt rates so low that no surplus income will be
left that could be applied—will, we must suppose, be
the next step in the process. The action, too, will, it
would seem, have the cordial support of Prof. Adams;
for did he not say in his address before the American
Economic Association last December (as quoted by us
in the very number of our paper in which appeared the
remark to which he takes
exception) that “
property devoted to the public service
are granted their Constitutional
rights, so far as rates
are concerned, when it is shown that the
aggregate of
charges for the aggregate of services rendered is ade¬
quate to afford a reasonable return upon necessary
the
owners
.
.
of
investment”?
And did he not then add:
“For my¬
self, I cannot evade the conclusion that equity, as be¬
tween various classes of roads, can never be attained
until all the
excess
limit be made
a
of
revenue over
the Constitutional
contribution to the
public treasury,
and that this contribution be made
as
a
substitute
for all taxes of all kinds and all sorts”?
FACILITATING OPERATIONS BETWEEN THE
TREASURY AND THE BANKS.'
The
following is the full text of the letter which the
Secretary of the Treasury has sent to the American Bankers’
Association, dealing with the suggestions that have been
made to him looking to the facilitating of operations between
the banks and sub-treasuries:
The Committee of the American
J
Bankers’
Association, Mr. oharles^H.
Huttig, Chairman, St. Louis, Mo.:
Gentlemen.—At an Informal meeting of your Committee In Washington In
June and In subsequent correspondence with Assistant Secretary Andrew
and myself, you have suggested three propositions looking toward the
extension of greater facilities on the part of the Treasury to the banking In¬
terests of the country, namely the following:
First.—That collectors of Internal
revenue
and
customslbe authorized
members of clearing-house
to accept cashier’s and treasurer’s checks of any
associations in sub-treasury cities where the collectors
that clearing-house members whose checks
previously deposited with the sub-treasuries
are
a
to
sum
are
located, provided
be so accepted have
of money sufficient to
checks so used.
*
Second.—That the cost of redemption and re-issue, including transporta¬
tion, of the Government’s own issues of currency should be borne by the
cover
Government; aad that an adequate supply thereof should be maintained in
the various sub-treasuries.
Third.—That gold certificates payable to order, authorized by the Act
of March 14 1900, issued at any sub-treasury, except San Francisco, be
received In payment of any debts due the United States Government
wherever payable; and that the system of telegraphic transfers be extended
so as to Include transactions between other
sub-treasury cities, except
San Francisco.
Treating these three propositions serially and individually, I beg to
following considerations:
First.—The law prescribes that all taxes on importations shall be
paid in
gold and silver coin, or coin certificates, or in demand Treasury notes, and
that all other taxes and debts to the Government shall be paid in
gold and
silver coin, Treasury notes, or notes of national banks (Revised
Statutes,
Section 3473).
The law thus clearly states that customs and Internal
revenues must be paid in actual money.
In New York, Boston and San
Francisco collectors of customs receive orders drawn by banks upon funds
deposited by these banks daily at the sub-treasuries, and your committee
asks that this system be extended to other sub-treasury
cities, namely
Chicago, New Orleans, Baltimore, Philadelphia, St. Louis and Cincinnati,
and that It be extended to include the payments of internal
revenue, as
well as customs.
’
To this suggestion I see no objection from the point of view of the Treas¬
ury, although in some of the less Important ports of entry, such as St. Louis
and Cincinnati, but little use would probably be made of the method in
paying customs.
The whole system of handling the Government money,
however, is medieval and requires radical revision to bring it into con¬
formity with the practices of modern business.
I am inclined to believe
that a wiser method of handling this particular proposition would be to
ask Congress so to amend Section 3473 as to allow collectors of
customs
submit the
.
and internal revenue to receive certified checks upon national
banks, under
such safeguarding regulations as would insure the collectors and the
LXXXXI
being made to reduce the expenditures of the Government, I should not
feel justified at the present time In making such a recommendation, although
I am not at all certain that the Government ought not to bear the expense
of transferring and re-lssulng Its own paper money when that money has
become unfit for circulation, and that the same facilities should not be
extended to the banks In smaller towns and cities In this regard as are now
enjoyed by the banks In the sub-treasury cities.
In this connection I should like to call the attention of your Committee
to experiments
being made by this Department and now rapidly approach¬
ing what appears to be a successful termination, In the washing, Ironing
and re-sizing of soiled currency.
According to present prospects we
shall be able In the course of the coming year to Install In all of the sub¬
treasuries laundries for the notes, which will save and return to circulation
about four-fifths of the notes which at present are destroyed and which
will also make It possible to cleanse and re-lssue paper currency which Is
not yet soiled to the extent of being unfit for circulation, but which would
otherwise continue In use In an unclean and perhaps unsanitary condition.
The proposal of your Committee that an adequate supply of fresh
money
of all kinds and denominations should be maintained In each of the subtreasuries Is one which also suggests further legislation.
We are making
a special effort to meet the requirements of bankers In this
respect, but the
existing restrictions upon the denominations of different forms of our paper
currency are such that it Is very difficult to effect redemptions of all sorts
of money at all sub-treasuries In whatever denomination the depositor
may desire.
There should be, I believe, further changes In legislation
allowing greater freedom In the denominations of the several kinds of paper
money.
A revision of the law, for instance, which would allow national
bank notes to be of the denomination of one and two dollars, would help In
this direction.
But as this change would increase the expenses borne by
the banks, perhaps It is not the sort of reform which the bankers would
be likely to urge.
Third.—You have asked that gold certificates payable to order, issued
at any sub-treasury except San Francisco, be received In
payment of any
debts due the United States Government wherever payable, thus reducing
the cost to the banks of domestic exchange and avoiding the necessity
of cross-shipments of gold between different parts of the country at different
seasons of the year.
While recognizing the economies which would accrue
to the banks through such an arrangement, and though very desirous
of facilitating In every feasible way the operations of the banks, I do
not feel that the Government can afford to adopt such a plan as a matter
of general practice.
The natural drift and distribution of the Government’s
gold supply among Its several sub-treasuries does not always coincide with
the distribution of the financial world’s demand for gold.
By agreeing to
redeem gold certificates payable to order at any sub-treasury, or by agreeing
to receive them in payment of debts at any sub-treasury, which is practi¬
cally identical with their redemption, the Government might. In many
cases, in the future, as In the past, find Itself obliged to bear the expense
of shipping gold from one part of the country to another, and the economy
accruing to the banks might prove to be entirely at the expense of the
Government.
In actual practice these facilities of exchange have been
extended to the banks from time to time according to what seemed expedient
at the moment;
that is to say, according to the particular conditions
existing In the various sub-treasuries at the time when exchange was
demanded.
When gold has accumulated in one of the sub-treasuries in
excess of the needs of that sub-treasury, and another sub-treasury Is inap¬
propriately supplied, we have not Infrequently re-distributed the surplus
by the Issue of exchange. According to present information, however, I
Inclined to think that it would be unwise for the Government to offer
to extend these facilities without restriction at this time.
In this connection you have also asked that the system of telegraphic
transfers be extended so as to include transactions between all sub-treasury
am
except San Francisco.
This has already been accomplished
By
general orders issued by the Treasurer of the United States July 6 and 7
1910, any assistant treasurer, except the Assistant Treasurer in San
Francisco, Is authorized to accept deposits for telegraphic transfer for
payment in any other sub-treasury to an amount not exceeding $100,000
per day, upon payment of express charges at bankers’ rates and the charge
for the telegram.
At the New York sub-treasury even greater latitude is
allowed In this regard.
According to a series of orders, last amended on
Sept. 12 1910, not only may deposits be made in New York for telegraphic
transfer to Boston, Philadelphia and Baltimore to the extent of $100,000
per day, but they may be made for payment in Cincinnati, St. Louis and
New Orleans to the extent of $250,000 per day, for payment In Chicago to
the extent of $500,000 per day, and for payment In San Francisco without
limit.
The figures given above are those within which the assistant treas¬
urers are given authority to make transfers without communicating with
Washington.
When larger amounts are asked for, they may still be
had if the Treasurer of the United States gives permission; this he is
accustomed to do If his telegraphic Inquiry shows that the office which is
asked to make the payment Is In a position to do so without depleting
too far Its cash on hand.
In the case of all transfers, except those involving
payments in San Francisco, the depositor must pay the express charges
and the charges for the telegram.
For payment in San Francisco, however,
deposits are accepted at other sub-treasuries without requiring any charge
for expressage, but a uniform charge of $1 30 for the telegram.
If after
this statement it does not appear that the desires of your committee have
been met‘with regard to telegraphic transfers, I should like to be further
Informed.
If such action accords with the desires of your Committee, I should be
glad to recommend for Congressional consideration the following proposi¬
cities
tions:
That Section 3473 of the Revised Statutes be so amended as to allow
customs and of internal revenue to receive certified checks
of national banks under such regulations as will insure the collectors and
the Government against loss.
(2) That the existing restrictions upon the denominations of different
kinds of paper money be further relaxed.
(1)
collectors of
Respectfully
yours,
FRANKLIN MACVEAGH. Secretary.
Government against loss.
This would allow Government revenues to be
received and handled as are the revenues of municipalities and
States, in¬
dustrial and commercial corporations and individual firms.
I shall be
glad to recommend such legislation In my annual report.
Second.—You have proposed that the Government should bear the
expense of transporting unfit money to the Treasury and re-shlpping fresh
money In exchange and have asked that an adequate supply of fresh
money of all kinds and denominations be kept in each of the sub-treasuries.
The proposal that the Government
pay the cost of shipment to and from
the Treasury In the redemption and re-issue of unfit
money is Intended
primarily to extend to the banks outside of sub-treasury cities the same
facilities In regard to redemption which are now
enjoyed by the banks
accessible to sub-treasuries, inasmuch as it is the present
practice of the
Department to give clean money for unfit money at the sub-treasuries.
The granting of this request would
obviously Involve an appropriation
which would have to be made by Congress, and $300,000
would be a con¬
servative estimate of the amount so involved.
In view of the efforts now
[VOL.
ITEMS ABOUT BANKS, BANKERS
AND TRUST CO’S.
public sales of bank stocks this week aggregate 222
shares, of which 207 shares were sold at the Stock Exchange
and 15 shares at auction.
In trust company stocks the only
—The
transaction
was a
sale at auction of
one
of the Title Guarantee & Trust Co. at
lot of 3 shares of stock
4973^, an advance of
2234 points over the price paid at the last previous public
sale.
The table below, given in our usual form, shows the
actual sales of New York City bank stocks made during the
week at auction and at the Stock Exchange.
Extensive
Oct. 8mo.
THE CHRONICLE
tables
showing the bid and asked quotations, deposits,
surplus, &c., of banks and trust companies in all important
cities in the United States are published monthly in the
“Bank and Quotation" Section, the October issue of which
accompanies to-day’s “Chronicle." Bid and asked quota¬
tions for all New York City bank and trust company stocks
are also published
weekly in another department of the
paper, and will be found to-day on pages 927 and 928.
BANKS—New York.
Shares.
Low.
High.
*138 Commerce, Nat. Bank of-_ 201
205
*69 Fourth National Bank
185
186
15 N. Y. Produce Ex. Bank.. 161^ 161 M
TRUST COMPANY—New York.
3 Title Guar. & Trust Co---- 497^ 497 J*
I.Withdrawl
prominence at the meeting, several of the speakers
having that as their theme. As is customary with us, we
shall present the detailed proceedings, with the
papers and
reports of the regular convention and its sections, in our
annual number, the “Bankers’ Convention
Section,’’ to be
issued on Saturday next, Oct. 15.
As noted last wTeek, this
publication will contain as special features the following arti¬
cles: “Historical Summary of Los Angeles and Los
Angeles
Banks," by Stoddard Jess, Vice-President of the First Na¬
tional Bank of Los Angeles, and the “Growth of
Banking in
San Francisco Since the Fire," by James K.
Lynch, VicePresident of the First National Bank of San Francisco.
A
noteworthy act of the Association during its sessions was
appropriation of $5,000 for the relief of the families of
those killed in the destruction of the Los
Angeles “Times"
Building a week ago.
F. O. Watts has been chosen to succeed Lewis E. Pierson
President of the Association; Charles H.
of
Huttig
Mr.
Watts
as
St. Louis
Chairman of the Executive
Council, .and Arthur Reynolds, President of the Des Moines
National Bank, has been elected Treasurer of the Association.
Mr. Watts is President of the First National Bank of Nash¬
He started his banking career as a runner in the
ville.
First National Bank of Union
City, Tenn., at a salary of $5
a week, and before he was
twenty-one years of age was Cash¬
ier of that institution.
In 1897 he accepted the cashiership
of the First National Bank of Nashville.
youngest
that has
He is next to the
held the position of President of
Association.
At an early age he
was made President of the Tennessee Bankers’
Association,
and has been a member of the executive council ever since.
Edward L. Robinson, Vice-President of the Eutaw Sav¬
man
ever
the American Bankers’
ings Bank of Baltimore, has been elected President of the
Savings Bank Section, and R. C. Stephenson of the St. Jo¬
seph Loan & Trust Co. of South Bend, is the newly elected
Chairman of the Executive Committee of the
Savings Bank
Section.
services to it and to the business
community, that it conveys to the
of the deceased its sympathy in their
Fries, President of the Wachovia Loan & Trust
Winston-Salem, N. C., has become Chairman of the
Executive Committee of the Trust Company Section.
—An announcement that the Mobile,
Ala., banks would
guarantee all bills of lading on shipments of cotton was made
in dispatches from that city on the 5th inst.
This was,
however, subsequently denied in a statement credited to
E. J. Buck, President of the City Bank & Trust Co. of
Mobile, and published in the New York “Times" of the 7th.
Co. of
In this statement Mr. Buck is
quoted
as
follows:
“The report that Mobile banks have decided to guarantee
cotton bills is
erroneous.
No action on thq matter has been taken
by the Mobile Clearing
House Association, nor has any individual bank, as far as I
know, decided
to do this.
The Mobile Clearing House, I am sure, will act in full accord
with the banks of New York in handling the
matter.”
bill-of-lading,
It
is
reported from London that further sessions have
been held during the week by the committee of
foreign
bankers which has been considering the
cotton-bill-of-lading
matter, but the results of the meetings have not been made
public.
—The first
meeting of the New York Chamber of Commerce
adjournment last May was held on Thursday and
was given over entirely to
eulogistic ceremonies in memory
of the late J. Edward Simmons, who at the time of his
death in August was President of the Association.
Joseph
H. Choate, Vice-President of the Chamber, presided at the
meeting. Addresses in praise of the late President were
made by Mr. Choate, Dr. H. A. Garfield, President of
since its
family
great bereavement, expressing the
hope that the memory of his noble and stainless life may be to them a
source of continued comfort and
consolation, and be it further..
Resolved, That a copy of these resolutions be suitably engrossed and
sent to the widow, and that the entire
proceedings of this meeting, together
with the letters of sympathy received from other
organizations and from
representatives of our own and foreign Governments, be printed in a
memorial volume.
.
.
—The several rulings
bearing on the interpretation of cer¬
tain sections and phrases of the Aldrich-Vreeland Emer¬
gency Currency Act of May 30 1908, which have recently
been made by the Treasury Department, have been
brought
together in a circular issued by the Department under date of
Sept. 16. This circular in full is as follows:
TREASURY DEPARTMENT,
Office of the Secretary.
of
Any member of
a
Washington, Sept. 16 1910.
Currency Association.
association may withdraw therefrom providing—
Bank f rom
an
a
1.
That at the time of such withdrawal there shall be no unredeemed
additional circulating notes issued to the association;
2. That the unanimous consent of the executive committee of the board
of managers of the association shall be obtained, and
That the
3.
II.
Secretary of the Treasury of the United States shall approve.
Redemption Fund for Additional Circulation.
Section 3 of the Act of June 20 1874 provides that a national bank must
on deposit in the Treasury of the United States a sum
equal to 5%
of such circulation as Is provided for in that Act.
Section 6 of the Act of
keep
May 30 1908 provides that the banks shall keep on deposit in the Treasury
of the United States an additional sum equal to 5% of such additional
circulation at any time outstanding.
The Department is of the opinion
that the redemption fund to be deposited In the
Treasury on account of
additional circulation authorized by the Act is not required to exceed
5% of such additional circulation, and that Congress Intended only to
extend to the additional currency the original provisions for a
5% redemp¬
tion fund hitherto provided for the ordinary bond-secured circulation.
III. Extent of Territory to be
Comprehended by a'Currency Association.
In regard to the extent of territory to be comprehended by a
currency
association, attention is called to the following provisions of the Act of
May 30 1908:
1. That there shall not be more than one such association formed in
any
city.
2. That the member banks “shall be taken, as
nearly as conveniently
may be, from a territory composed of a State or part of a State, or con¬
tiguous parts of
one or more States.”
3. “That any national bank in such city or territory,
shall,
upon its application to and upon the approval of the
Secretary of the
Treasury, be admitted to membership in a national currency association
for that city or territory.”
These provisions are construed to mean (1) that the
territory to be in¬
cluded in the currency association of a particular city must be at least co¬
extensive with the limits of the city, and (2) that If the territory
to be
covered by an association has been fixed in the
approved by-laws, all
banks within that territory must, if properly qualified, be admitted to
.
...
.
.
,
membership.
In other words, if the by-laws stated that the membership
association shall be composed of banks doing a business within a
State, no national bank within the State would be excluded from member¬
ship, provided that it was otherwise qualified.
On the other hand, if the
by-laws limited membership to banks doing a business within a county,
then only the national banks in that county would
expect to attain mem¬
in
H.
W.
Exchange;
Resolved, That the Chamber of Commerce of the State of New York
on record Its appreciation of Mr. Simmons’ long,
faithful and valuable
the
to
graduate;
a
places
475
of
successor
was
497J* June 1910—
tertainment many trips to near-by points of interest and other
social features were arranged.
The currency question was
is
which Mr. Simmons
Close. Last previous sale.
203
Sept. 1910— 203
186
Sept. 1910— 187
161 H Mch. 1910—
175J*
—The American Bankers’ Association concluded yester¬
day its 1910 convention, after a week’s discussion of banking
and financial matters.
Over two thousand delegates were
in attendance at the Los Angeles meeting, and for their en¬
as
College, of
R. H. Thomas, President of the New York Stock
William Sherer, Manager of the New York
Clearing House
Association; William A. Prendergast, City Comptroller;
Anton A. Raven, President of the Atlantic Mutual Insurance
Co.; A. Barton Hepburn, President of the Chase National
Bank; John Claflin, Edward W. Sheldon, A. Foster Higgins
and Sereno S. Pratt.
A preamble and resolution on Mr.
Simmons’s death offered by James G.
Cannon, Chairman of
the Executive Committee of the Chamber, were
adopted,
the resolution being as follows:
♦Sold at the Stock Exchange.
one
Williams
917
an
bership.
IV. Security for Additional Circulation.
Section 1 provides that the national currency associations may use as a
basis for additional circulation “any securities,
Including commercial
paper, held by a National Banking Association.”
The term “commercial
paper” is thereafter defined to include "only notes representing actual
commercial
transactions, which when accepted by the association shall
of at least two responsible parties and have not exceeding
four months to run.”
These requirements will be satisfactorily met by
single-name paper arising from actual commercial transactions if endorsed
by the bank desiring additional currency.
Section 3 permits the issue of additional notes on the security of bonds
of a municipality or district in the United States “whose net funded in¬
debtedness does not exceed 10% of the valuation of its taxable property,
to be ascertained by the last preceding valuation of
property for the
bear the
names
assessment of taxes.’”
(1) The phrase “net funded indebtedness” is held to mean the entire
bonded debt of a municipality, less any bonds not yet sold, or any bonds
re-purchased and not canceled, as for sinking fund account.
(2) The phrase "valuation of its taxable property” Is construed to mean
the valuation of taxable property as estimated by the assessor.
Where
the law prescribes that the assessors shall estimate the value of all
property
subject to valuation at its actual value, and that the taxes shall be assessed
at a fraction of such value, the valuation of taxable
property is understood
to mean the actual valuation as estimated by the assessors.
Where, how¬
ever, the law makes no distinctions between actual and taxable value of
property, the “valuation of taxable property” Is construed to mean the
taxable value upon which the actual taxes are levied.
A. PIATT ANDREW. Acting Secretary.
—The ruling of the Comptroller of the
Currency, mentioned
our issue of Sept. 24,
under which the right of a national
ank to insure the life of any of its officials is denied
is the
,
in
’
918
THE CHRONICLE
subject of
a
statement given out by Mr. Murray on Sept. 26.
His announcement, as
of Commerce,” says:
published in the New York ‘'Journal
In answer to many Inquiries from banks, Comptroller of the Currency
Murray has recently expressed an opinion that a national bank has no
power to use Its funds In paying premiums on a policy of insurance upon
the life t>f Its President, or other officer, not indebted to the bank, though
the policy be payable to the bank.
The fifth paragraph of Section 5136 of the Revised Statutes of the
United States provides that the bank shall have power “to elect or appoint
directors, and by its board of directors to appoint a President, Vice-Presi¬
dent, Cashier and other officers, define their duties, require bonds of them
and fix the penalty thereof, dismiss such officers, or any of them, at pleasure,
and appoint others to fill their places.“
Under this provision of the
statute the directors can make no contract with the President which will
prevent them from discharging him at pleasure.
His tenure of office Is
entirely at their discretion, a discretion which cannot be divested by any
act of theirs.
It Is their duty to dismiss the President or other officer
when. In their judgment, the Interests of the bank so require. A large In¬
surance
policy upon the life of its President would seriously Interfere with
the discretion vested In them
to his retention In office.
national bank other than those expressly granted must be
such as are reasonably incidental to the exercise of the powers expressly
granted.
Insuring the life of Its officers Is only an Incidental power.
If national banks were given power to Insure the lives of their officers
and employees, examiners would soon be confronted with a new class of
Powers of
as
a
assets, the value of which would be highly speculative, and which would
present special temptations for over-valuation by the officers of the bank.
—The resignation of William H. Moody as Associate Jus¬
tice of the United States Supreme Court was tendered to
President Taft on the 4th inst.
It will take effect on Nov.
20.
In view of the continusd ill-health of Justice Moody, a
special Act
was passed by
full salary,
Congress last June permitting him
his case not being covered by the
existing law, which permits only those who have served
in that capacity for ten years, or have reached the age of
to retire
seventy
on
years,
to enter the retired list
on
full salary.
—At the annual
meeting of the New York Clearing House
Tuesday, A. Barton Hepburn, President
of the Chase National Bank, was elected President of the
association, succeeding William H. Porter, President of the
Chemical National Bank.
Edward Earl, President of the
Nassau Bank, was chosen successor to Samuel Woolverton,
President of the Gallatin National Bank, as Secretary of the
Association, held
on
association.
William Sherer and William J. Gilpin were
Manager and Assistant Manager respectively.
William A. Nash, President of the Corn Exchange Bank, re¬
places Valentine P. Snyder, President of the National Bank
of Commerce, as Chairman of the Clearing-House Committee.
The membership of the various committees is now as follows:
re-elected
as
Clearing House—William A. Nash, Chairman; Francis L. Hlne, President
of the First National Bank; William H. Perkins, President of the Bank of
America; Frank A. Vanderllp, President of the National City Bank, and
James G. Cannon, President of the Fourth National Bank.
Conference—Richard Delafleld, President of the National Park Bank,
Chairman; Alexander Gilbert, President of the Market & Fulton National
Bank; Frederick B. Schenck, President of the Liberty National Bank;
William Woodward, President of the Hanover National Bank,
and
Samuel Woolverton, President of the Gallatin National Bank.
Nominating—Albert H. Wlggln, Vice-President of the Chase Nationa'
Bank, Chairman; Casimlr Tag, President of the German-Amerlcan Bank;
Lewis L. Clarke, President of the American Exchange National Bank;
Henry A. Smith, Vice-President of the National Bank of Commerce, and
Christian F. Tletjen, President of the West Side Bank.
Admissions—Stuart G. Nelson, Vice-President of the Seaboard National
Bank, Chairman; Edwin S. Schenck, President of the Citizens’ Central
National Bank; Lewis E. Pierson, President of the Irving National Ex¬
change Bank; Ruel W. Poor, President of the Garfield National Bank, and
Charles Elliot Warren, Vice-President and Cashier of the Lincoln National
Bank.
Arbitration—Robert M. Galloway, President of the Merchants’ Nationa
Bank, Chairman; Herbert L. Griggs, President of the Bank of New York,
N. B. A.; Forrest H. Parker, President of the New York Produce Exchange
Bank; William C. Duncan, President of the Greenwich Bank, and Scott
Foster, President of the People's Bank.
For the year ended
Sept. 30 total Clearing House transac¬
$106,749,253,036 were reported, of which $4,195,293,997 were balances and $102,553,959,069 exchanges.
tions of
These transactions
the
largest on record. The heaviest
day during the year occurred on
Nov. 3, when the amount reached $764,133,942, which is
also the largest in the history of the Clearing House.
Since
the organization of the Association, fifty-seven years
ago,
the total transactions have been $2,230,144,291,998.
transactions
on
were
any one
—The Fidelity Trust Co. at Chambers Street and West
Broadway, this city, has been designated a depositary for
the
is
general funds of the State of New York.
already a depository of city funds.
—The Union
The institution
Exchange National Bank of this city
was
admitted to membership in the New York Clearing House
Association on Tuesday.
Albert H. Wiggin, Vice-President
of the Chase National
the Union
Bank, has been elected
Exchange National.
a
director of
The latter institution be¬
gan business in June 1903 as the Union Exchange Bank; it
entered the national system last year.
Henry S. Hermann
is President and David Nevins is Vice-President and Cashier.
IVOL.
LXXXXI
—Property at Nos. 49-51 West 33rd Street, this city,
purchased last week by Alexander P. W. Kinnan, has been
acquired on behalf of the Mutual Bank, now located at the
northeast corner of 33rd Street and Broadway.
The
purchase price of the property is said to have been $380,000.
A twelve-story bank and office building will be erected on
the site, the bank utilizing the lower portion for itself.
As
the lease of the present bank premises does not
expire until
May 1 1912, the institution has ample time to construct its
new building and have it
ready on that date for its occupancy.
—In a special statement under date of Oct. 3 19i0 the
New Netherland Bank of this city shows deposits of $2,790,447 and total resources of $3,229,694.
The development of
the institution during the past few years is manifest when it
is recalled that deposits
The bank has a capital
in January 1908 were but $900,000.
of $200,000 and surplus and undi¬
vided profits of $230,982.
The payment of dividends at the
rate of 5% per annum was begun a year
ago.
J. Adams
Brown is President, Dr. John P. Munn is
Vice-President,
Curtis J. Beard is Cashier and Louis S. Brady is Assistant
Cashier.
—The board of directors of the New York Produce Ex¬
change Bank, this city, has declared a semi-annual dividend
of 4%, payable Oct. 15 to holders of record Oct. 8.
Divi¬
dends heretofore have been 3% and 1% extra at each semi¬
annual period.
—John S.
who was also
Huyler, the well-known candy manufacturer,
a director of the Bank of the
Metropolis, died on
the 1st inst. During his lifetime Mr. Huyler contributed large
sums toward church and educational
interests, and otherwise
gave liberally to charity. He was sixty-four years of age.
—Joseph C. Baldwin,
a
director of the Market & Fulton
National Bank of this city, the North River Savings Bank,
the
died
Washington Trust Co. and the Federal Safe Deposit Co.,
on
the 1st ult.
He
was
in his
seventy-third
year.
Mr.
Baldwin had been on the directorate of the Market & Fulton
National since 1891.
He was also on the board of the Texas
& Pacific Coal Co.
.
—Frederick J.
Kingsbury, President of the Citizens’ Na¬
Waterbury, Conn., and founder of the insti¬
tution, died on the 30th ult. Mr. Kingsbury was born in
1823.
He had formerly been a member of the Connecticut
General Assembly for a number of years and had served as
Chairman of the Committee on Banking.
tional Bank of
—Charles K. Cobb was appointed receiver for the Boston
Banking Co. of Boston, Mass., by Judge Rugg of the State
Supreme Court on Sept. 27, when a temporary injunction,
which had been issued on Sept. 24, restraining the institu¬
tion from doing business, was made permanent by agreement.
The petition for the appointment of a receiver was filed by
State Bank Commissioner Chapin, who issued the following
statement with regard to the receivership proceedings:
The Boston Banking; Company applied to the Board of Bank Incorpora¬
tion for a certificate to enable It to do business In the Commonwealth of
Massachusetts under the provisions of Chapter 347 of the Acts of 1906, as
amended by Chapter 343 of the Acts of the year 1910, an Act entitled “To
prohibit unauthorized foreign banking associations and corporations from
transacting business In Massachusetts."
It Is stated that it was a corporation chartered under the laws of the
State of Rhode Island on April 17 1903, and has been doing a general
banking business at 209 Washington St.
The Board of Bank Incorporation last Wednesday after a hearing voted
to dismiss the petition, not believing the bank was In a strong enough con¬
dition to continue In business, and the Bank Commissioner this morning
filed an information In the Supreme Court asking for the appointment of a
receiver.
Judge Sheldon Issued a temporary injunction thereon.
The institution
known
the
“Day & Night Bank.” It
capital of $10,000. Last year a temporary injunction
was obtained by Commissioner Chapin, restraining the bank
from doing business on the ground that its capital was im¬
paired. The Special Master appointed to investigate the
bank’s condition at that time reported to the Supreme Court
that its capital was not impaired, and that its condition was
had
was
as
a
not such
as
to make its continuance in business hazardous
to the
public; and this finding was sustained by the Supreme
Court of the State.
A motion then made to re-commit the
case to the Master was denied.
—Benjamin Githens, President of the Corn Exchange
Philadelphia, died at his summer home
in Chelsea, Atlantic City, on the 6th inst., after an illness
of five months.
He was seventy-seven years of age.
Mr.
Githens had been a director of the bank since 1878, and had
served as President for the past ten years, prior to which,
for two years, he had been Vice-President.
—The following new members have been added to the
directorate of the Harris Safe Deposit Co. of Chicago: W. M.
National Bank of
Oct.
81910.]
THE CHRONICLE
Pelouse, Robert M. Wells, G. P. Hoover and N. C. Kings¬
bury. The issuance of $375,000 of additional capital stock
has been ordered by the stockholders, making the total out¬
standing amount $1,625,000. The authorized capital was
recently increased from $1,250,000 to $2,000,000. The di¬
rectors have declared the regular dividend of 3%, payable
Oct. 1.
Southern
Clearings brought forward from first
September.
('lenrtngx
1910.
of the Sullivan Bank & Trust
name
Co., a
new banking institution began business in
Montgomery, Ala.,
on Monday, the 3d inst.
The institution is owned and con¬
trolled by Martin H. Sullivan of New Orleans and Pensa¬
cola, his son, Russell Sullivan, and John P. Kohn and Frank
D. Kohn of Montgomery.
The officials are John P. Kohn,
President, Frank D. Kohn, Vice-President, and Russell
Sullivan, Cashier. The company reports a paid-in capital
of $100,000.
1
8
282,550,989
—A charter has been issued to the Oklahoma Stock Yards
National Bank of Oklahoma City.
The bank has been or¬
ganized with $250,000 capital. Its officers are Thomas P.
Martin Jr., President; E. F. Bisbee,
Vice-President, and
R. J. Robb, Cashier.
—The Royal Bank of Canada (head office
Montreal) has,
taken a lease of the ground-floor offices and basement of
the building at 68 William St., corner of Cedar Street.
The
bank has had offices in another part of this
building for some
years.
The new quarters were formerly occupied by Fisk
& Robinson.
_.
....
Memphis
Nashville
....
....
Norfolk
Birmingham..
Augusta
Knoxville
Jacksonville
..
Chattanooga
_
Mobile
Little Reck
Charleston
Oklahoma
Macon
Columbia.....
Austin
Beaumont
...
Columbus, Ga.
Wilm’ton, N.C.
Vicksburg
....
Valdosta
Guthrie
64,190,789
44,736,354
34,814,484
27,216,700
34,409,834
16,065,932 16,443,155
15,300,163 14,898,720
10,856,216 12,083,744
10,112,401
8,647,643
8,801,761 11,363,482
7,100,711
6,384,220
9,112,467
6,705,639
7,029,570
5,918,294
5,562,580
5,347,738
5,665,108
6,475,874
6,203,148
7.418.409
10,098,235 8,693,348
4,603,441
5,005,987
3,521,925 3,416,026
6,459,204
3,934,703
2,404)102
2.363,176
1,657,508
1,421,014
2,215,251
2,116,304
999,973
743,280
704,019
685,838
1,020,204
1,351,806
1,783,541
1,406,031
*1,100,000
928,197
•
Jackson, Miss.
Meridian, Miss.
*
Not included In totals;
September.
1910.
Nine Months.
Inc. or
Dec.
1909.
1910.
Inc. or
Dec.
1909.
8
$
178.028.287 145,341,696
%
8
$
%
+22.5 1,536,114,614 1,290,698,392 + 19.0
Toronto
125.910.038 112,854,897 + 11.6 1,138,365,547 1,022,410,530 + 11.3
Winnipeg
76.951.048 60.827,428 +26.5 621,213,673 460.739.696 +34.8
Vancouver.... 40,428.521 28,035,000 +44.2 319,100,839 192,798,057 +65.5
Ottawa
16.616,851 13,864,221 + 19.9 143,394,057 126,360,661 + 13.5
Quebec..
9.791.946
9,393,651
+4.2
89.161,079
84,460,106
+ 5.6
Halifax
7,133,228
7,080,760
+4.8
73,479,828
69,897,701
+5.1
Hamilton
8,316,695
6,916,970 +20.2
72,314,049
59,814,583 +20.9
St. John
6.373,635
6.124,893
+4.1
57,818,752
52,029.066 + 11.1
Calgary
11,584,411
9,175,036 +26.3
106,508,019
65,162,708 +63.5
London
5,051,741
4.820,908
+4.8
49,302,940
45,466,588
+8.4
Victoria
7,984,304
5,864,553 +36.2
72,246,702
48,621,951 +48.9
Edmonton....
6,368,052
4,372,343 + 45.6
48,396,779
36,311,014 +33.3
Regina
4,814,792 Not incl. in total,
33,547,433 Not included in total
Brandon
2,038.024 Not incl. in total,
13,456,814 Not included in total
Lethbridge
1,932,976 Not incl. in total.
1,932,976 Not included in total
.....
...
500,538,757|414,672,356
+20.6 4.327,416,878
3,554,671,053| +21.7
The clearings for the week ending Oct. 1 make a satisfac¬
tory comparison with the same week of 1909, the increase
in the aggregate having been
15.1%.
Week
Clearings at—
1910.
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
Calgary
London
Victoria
Edmonton
Regina
Brandon
Lethbridge
..
..
Total Canada
ending October 1.
Inc. or
Dec.
1909.
8
45,352,528
s
8
%
+24.0
+4.6
+7.0
+44.1
+29.2
+9.5
36.575.421
32,153,715
30,753,286
19.444.487
18,179,994
9,433,800
6,544,020
3,804,379
2,943,867
2,295,471
2,095,589
1,570,528
—8.6
1,717,684
2,021,424
1,767,429 + 14.4
1,444.163
1,418.307
+ 1.8
2,792,016
2,497,791 + 11.4
1,123,917
1,066,270
+ 5.4
1.556.258
1,339,387 + 16.2
1.290.652
1,050,578 +22.9
920,582 Not included in total
Not
470,447
included in total
379.203 Not included in total
1908.
1907.
8
30,779,906
23,570,247
14,193,703
3,636,686
3,177,332
2,226.266
1,486,596
1,364,033
1,233,712
1,316,800
1,103,884
31,507.270
25,064,011
10,207,153
4,371,883
2,896,366
2,284,362
1,712,220
2.027,207
1,457,619
1,242,469
1,313,947
1,132,589
795,222
804,596
709,037
Memphis
Nashville
Norfolk
Birmingham
Augusta..
Knoxville
Jacksonville
....
....
Chattanooga
...
Mobl e
Little Rock
Charleston
Oklahoma
Macon
Columbia
Austin
Beaumont
1910.
1909.
S
$
66,565,717
15,829,619
11,390,347
17,807,359
9,958,000
5,800,144
8,844,921
6,526,254
11,025,933
3,716,380
3,911,350
2,619,992
2,544,340
2,870,924
1,565,133
1,953,487
1,560,000
1,235,924
1,291,751
1,721,598
2,219,131
+
t
Inc. or
Dec.
%
80,081,592 —16.9
—7.6
17,123,791
11,158,549
+2.1
9.241,528 +92.7
7,983,500 +24.7
6,493,462 —10.7
—8.9
9,705,599
7,250,870 —10.0
9,802,882 + 12.6
5,606,087 —33.7
3,439,984 + 13.7
3,132,595 —16.4
1,892,396 + 34.5
—7.1
3,089,424
1.504,981
+4.0
1,519,636 +28.6
1,299,898 +20.0
1,364,664
—9.4
1,711,963 —24.5
2,000,000 —13.9
2.002,697 + 10.8
1908.
1907. j
$
$
59,642,338
67,112,280
18,117,937
14,920,847
14,678,463
7,002,000
6,285,474
5,565,113
3,894,331
5,417,898
4,415,427
5,168,457
12,755,303
10,348,621
13,378,300
8,426,000
5,455,004
5,975,541
4,650,000
5,204,254
4,513,306
2,926,811
1,948,275
1,776,294
2,931,708
2,244,582
3,367,071
1,715,151
1,458,398
1,409,527
1,495,609
1,475,385
1,765,732
1,242,591
■ 819,708
2,295,970
1,559,713
1,212,203
1,315,075
1,165,693
1,342,916
1,288,000
1,428,148
—9.8
1,000,000
1,001,045
767,700
1,400,000
515,000
918,841
+52.4
+ 1.9
607,310
411,349
456,000
"‘*425",666 +17*6
ei'o'ooo
207,609
'"Too",666
+22.2
300,437
395,000
300,000
320,000
275,000
+23.4
+9.1
376,000
185,610,097
191,486,329
—3.1
150,753,458
....
VU1UIUUU9| Vlll
*
505.633
.
-*»«•
'500,666
Wilm'ton, N. C._
Vicksburg
253,793
Valdosta^
Guthrie
Jackson, Miss...
Meridian
Tot. Southern.
173.969.689
Our usual monthly detailed statement of transactions on
the New York Stock Exchange is appended.
The results
for the nine months of 1910 ana 1909 are given below:
j
Nine Months 1910.
DescripPar Value
or
Actual
Value.
Quantity.
Nine Months 1909.
Par Value
or
Aisr.
Actual
Value.
Quantity.
xTWc
St'ksjShs
130,161,975
155,562.795
\Val $11673.439,800 $11309,985,363 96.9 $14302,170.575 113876.404.219 97.0
RR.bonds
$447,570,200
$435,589,042 97.3 $996,480,100
$765,507,301
Gov't bds
$324,700
$347,057 106.9
\ $409,200
$445,782 10*9
State bds.
$35,681,950
$35,581,003 99.7
$29,340,040 99.8
$29,409,700
Bank stks
$960,500
$2,065,888 215.1
$138,950
$398,273 2864
Total.. $12157,977,150 $11783,568.353
96.9^15328,608,525 114872,095.615
974)
The volume of transactions in share properties on the
New York Stock Exchange each month since Jan. 1 in 1910
and 1909 is indicated in the following:
8ALE8 OF STOCK AT THE NEW YORK STOCK EXCHANGE.
124,283.338
107,949,623
Clearings—Returns by Telegraph.
Week ending October 8.
New York
Boston
+15.1
85,622,798
*
86,018,268
Baltimore
Louis
$1,597,558,633
$2,007,606,164
142,124,508
129,723,912
25,241,733
245,116,034
65,278,712
—20.4
—0.4
16,071,896
—5.4
$2,631,162,959
473.147,698
—15.5
69,005,408
15,206,788
Newi,Orleans
Seven cities, five days
Other cities, five days
Total all cities, five
All cities, one day
1909.
133,506.700
29,954.716
237,924,180
Chicago
days
Total all cities for week
$2,224,678,840
480,011,746
^
Per
Cent.
1910.
141,522,415
Philadelphia
+5.4 7,058,754,691 3,263,517,488 + 12.7
Week ending October 1.
St. Louis
New Orleans..._ Y
Louisville
Houston
Galveston
Richmond
Savannah
Fort Worth
Atlanta
Hon.
$
Clearings by Telegraph—Sales of Stocks, Bonds, &c.—
The subjoined table, covering clearings for the current
week,
usually appears on the first page of each issue, but on account
of the length of the other tables is crowded out once a month.
The figures are received by telegraph
from other leading cities.
St.
'
•
...
ngx nt
Canada—
Montreal
Toronto
A.e
comparison incomplete.
Clearings at—
Clearings.—The clearings of the Canadian
banks for the month of September 1910 show an increase over
the same month of 1909 of
20.6% and for the nine months
the gain reaches 21.7%.
Total Canada.
Inc. or
Dec.
1909.
%
$
8
+ 1.8 2,724,574,677 2,462,750,998
+4.2 691,826,300 608,760,039 + 13.6
+9.0 504,670,659 476,239,002
+6.0
+33.4 478,706,205 471,130,720
+ 1.6
+30.6 254,221,500 230,943,500 + 10.1
—1.8
281,719,395 257,061,281
+9.6
—18.0
165,535,360 150,769,319
+9.8
—1.1
235,775,598 232,390,478
+ 1.6
+ 15.0 374,856,488 232,046,858 +61.5
—2.3
210,301,482 183,445,510 + 14.6
+2.7
148,798,239 143,129,834
+4.0
—10.2
110,428,140 101,063,157
+9-3
+ 17.0
93,895,607
74,332,787 +26,3
—22.5
71,023,668
65.433,558
+8.5
+ 11.2
63,327,747
57,876,438
+9.4
+35.9
90,384,584
65,531,359 +37^9
+ 18.8
65,864,375
54,438,311 +21.0
+4.0
54,314,294
50,125,349
+8.4
—12.5
61,285,116
59,113,526
+3.7
—16.4
59,660,472
50,799,252 + 17.4
+ 16.2
89,348,961 i, 62,387,244 +43.2
—8.0
36,551,362
30,783,777 + 18.7
+3.1
31,438,946
26,017,639 +20.8
+64.2
57,071,483
25,938,897 + 119.9"
+ 1.7
23,371,280
23,544,899
+ 1.4
+ 16.6
13,289,704 1
12,761,806
+4.1
+4.7
20,099,309
14,174,242 +41.8+34.6
10,622,917
10,511,489
+ 1.1
+2.7
4,985,226 + 17.0
5,793,054
—24.5
11,955,661 i
11,173,353
+7.0
+26.8
17,542,101
13,857,660 +26.6
+ 18.5
10,854,411
6,805,993
Tot. South’n 766,210,790 726,899,622
Canadian Bank
Canada—
Montreal
50,962,005
27,633,000
27,564,736
1910.
.
The bank’s lease is for sixteen years and seven
months, beginning Oct. 1.
nUvirl
Inc. or
Dec.
1909.
St. Louis
287,689,372
New Orleans.. 66,893,877
Louisville
48,162,321
Houston
67,987,967
Galveston
36,100,000
Richmond
27,080,577
Savannah
28,546,919
Fort Worth
26,905,135
Atlanta
39,567,062
page.
Nine Months.
al—
....
—Under the
919
_
+2.9
+ 18.7
—2.9
+ 5.7
+ 1.5
1910.
M’th
1909.
Values.
Number
Number
of
Shares.
Values.
of
Par.
Acttial.
$
$
Shares.
Par.
Actual.
$
$
Jan 24.538.649 2,255.816.775 2.236,641.564 17,275,500 1,609,551.575 1,550,409,801
Feb. 16,012,626 1,423,073,275 1,407,743,928 12,337,199 L.142,192,700 1,082.075.181
Mch. 14,988,179 1.336.803.725 1,327,476.418 13,650,596 L,240,583,900 1.176.469,766
_
3.807,954(746
Istqr 55,539,454
April 14,089,639 1,279,487,675 1,256,488,974
i9,055,618 1,719,193,800 1,647,943,217
May 11,918,978 1,055.491,350 1,004,681,480 16.495.230 1,478,017,600 1,410,748.914
June 16,292,870 1.452.455.025 1.385.474.622 20.322.230 1.882.256.850
|l,815.478.974
2d qr 42,301.487 3.787.434,050
^.646,645.076 55.873.078 5.079.468.250 4.874.171.10I
6 m’i 97.840.941 8,803.127.825 8.618.506.987
Julv
14.254.713 1,284,761.925
Aug. 10.392,788
Sept. 7,673,529
919,409,950
666,140,100
99,136.372 9.071.796.425,8.682.125.853
1.235,461,645 12.806,965 1,191,292.400h.100.402.461
855,016,748 24,637,783 2,267.638,050 2.301.468,294
600,999,980 19,981,675
1,771,443,700jl .792,407,611
6,230,374,150,6,194,278,386
$2,704,690,586
502,749,618
$3,104,310,657
674,140,622
—12.9
—25.4
3d qr
32,321,030 2,870,311,975 2,691,478,376 57,426,423
$3,207,440,204
$3,778,451,279
—15.1
9 m’s
|130161971 11673,439,800jl1309.986363 156562791^14302,170,67’>[13876,404,219
320
THE CHRONICLE
MONTHLY CLEARINGS.
Clearings Outside New York.
Clearings, Total All.
Month.
Jan
Feb
Mch
..
..
1910.
1909.
$
$
$
$
17.143.348,295 14,052.390.538 + 22.0
13.111.985,258 11.260.311.084 + 16.4
15.021.382.183 12.623,772.489 + 19.0
%
1909.
1910.
%
5.894.272.314
4,960.845.197
5.975.198.570
5.168.090.843 + 14.0
4,372,605.760 + 13.4
5.136,934,369 + 16.3
1st qr_ 45.276.715.736 37.936.474.111 + 19.3 16.830.315.081 14.677.630.972 + 14.7
'April_ 14.014.994,640 13.692.120,791
ifry~ 13.147.7^0.447 13,006.573,040
■June.. 13,811.172.046 14.155.364.270
5.673.333.468
5.340,7- 0.8 0
5.446.850.931
+ 2.3
+ 1.4
—2.4
5.077.392.114 + 11.3
4.910.322.648 +8.8
5.043.660.966 +8.0
[Voir*
ASSETS.
LIABILITIES.
Trust Fund Holdings—
Trust Fund Liabilities—
$
$
Gold coin
895,178,669 00 Gold certificates
895,178,669 00
Sliver dollars
484,657,000 00 Silver certificates
484,657,000 00
Silver dollars of 1890...
3,546,000 00 Treasury notes of 1890.
3,546,000 00
Total trust fund
1,383,381,669
General Fund Holdings—
Gold coin and bullion...
45,149,300
Gold certificates
49,212,710
Silver certificates5,238,487
Silver dollars
6,076,547
Silver bullion
3,307,364
United States notes
5,325,879
Treasury notes of 1890..
8,775
National bank notes
29,810,242
Fractional silver coin..
18,820,064
Fractional currency
133
Minor coin
882,827
Bonds and interest paid.
12,052
_
■2d qr.
40.973,927.133 40.854.058.101
+0.3 16.460,975.292 15.031,375.728
k
86.250,642.869 78.790.532.212
+ 9.6
mos.
+9.5
33.291.290.373 29.709.006.700 + 12.1
5,149,321,905
4,824,477,700
5,063,692,833
+5.9
+4.6
+ 1.3
3d qr. 36,155,714,694 40,522,048,253 —10.8 15,583,765,125 15,037,492,448
+3.6
48,875,055,498|44,746,499,148
+9.2
5,406,812,583
July.. 13,285,479,380 13.469.063,652
—1.4
Aug
11,508,567,*’94 13,510,914,819 —14.8
Sept.. 11,361,667,620 13,542,069,782 —16.1
5,046,2 9:«,86s
5,130,652,674
..
9 moe. 122406.357,563 119312.680,465
+2.6
The course of bank clearings at leading cities of the country
for the month of September and since Jan. 1 in each of the
last four years is shown in the subjoined statement:
BANK CLEARINGS AT LEADING CITIES.
Jan. 1 to Sept. 30
-September
1909.
$
1908.
$
1907.
$
1910.
$
1909.
$
1908.
$
1907.
$
6,231
1,081
8,478
1,130
6,782
6,030
Boston
574
St. Louis
570
288
Pittsburgh
205
San Francisco
Cincinnati
Baltimore
Kansas City
Cleveland
New Orleans.
194
99
128
624
609
283
196
171
100
110
205
73
64
97
45
62
48
51
27
62
40
48
33
36
28
16
55
14
26
993
559
543
257
201
170
107
113
73,531
10,430
6,110
5,733
2,725
1,936
1,708
74,566
10,180
6,136
4,995
2,463
1,693
1,280
54,584
8,620
5,241
4,318
2,216
1,535
1,280
68,135
9,283
Philadelphia
971
558
497
245
165
149
96
102
167
60
53
113
42
50
47
39
24
51
33
41
30
33
24
16
40
12
21
929
999
1,165
1,925
1,049
1,702
902
903
1,305
5,493
2,372
2,088
1,691
1,061
1,111
1,221
746
G92
808
630
609
658
476
557
436
490
273
539
340
357
307
335
257
183
416
137
241
554
549
726
422
494
393
365
236
438
301
346
275
291
214
170
306
124
176
685
695
807
507
536
418
466
293
425
327
341
311
303
239
171
370
142
234
New York
Chicago
_
..
,
224
76
67
114
-
Minneapolis
Louisville
Detroit
Milwaukee
Los Angeles
Providence
Omaha
Buffalo
St. Paul..
_
...
.
49
75
52
62
29
71
39
44
38
42
.
.
Indianapolis
Denver
Richmond.
Memphis i
Seattle
Hartford
Salt Lake City
.
27
16
48
15
24
10,482 12,722 10,481
Total
Other cities
154
73
68
100
50
57
48
43
26
51
34
39
31
505
692
481
595
295
627
374
417
352
362
282
210
447
164
238
37
25
15
42
12
24
6,280
9,932 114,479 112,304
671
7,927
7,009
87,284 106,005
5,593
6,263
Total all
11,361 13,542 11,124 10,573 122,406 119,313
Outside New York. 5,130
5,064 4,342 4,543 48,875 44,747
92,877 112,268
38,293 44,133
879
.
820
633
The following statements
cash holdings of the United
of the public debt and Treasury
States are made up from official
figures issued Sept. 30 1910. For statement of Aug. 31 1910,
see issue of Sept. 17 1910,
page 693; that of Sept. 30 1909, see
Oct. 30 1909, page 1120.
INTEREST-BEARING DEBT SEPT. 33 1910.
Amount
Issued.
Amount
Outstanding
Registered.
Total.
Coupon.
Payable.
$
$
$
$
2s, Consols of 1930
Q.-J. 646,250,150 641,675,600 4,574,550 646,250,150
3s, Loan of 1908-18
Q.-F. 198,792,660 42,661,940 21,283.520 63,945,460
3s, Loan of 1925
Q.-F. 162,315,400 98,646,400 19,843,500 118,489,900
4s, Pan. Canal Loan 1906.Q.-N.
54,631,980 54,601,220
30,760 54,631,980
2s, Pan. Canal Loan 1908.Q.-F.
30,000,000 29,575,620
424,380 30,000,000
Title of Loan—
.■
Aggregate lnt.-bearing debt.. 1,091,990,190 867,160,780 46,156,710 913,317,490
Note.—Denominations of bonds are:
Of $20, loan of 1908, coupon and registered:
of $50, all issues except 3s of 1908: of $100, all issues; of $500, all issues: of $1,000,
all issues; of $5,000, all registered 2s, 3s and 4s; of $10,000, all registered bonds; of
$50,000, registered 2s of 1930.
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
Funded loan of 1891, continued at 2%, called May 18
00
00
00
906,085 26
906,045 26
$2,069,545 26
DEBT BEARING NO INTEREST.
$2,063,685 26
$7,000 00
00
23,650
14,450
1,101,250
17,110
Loan of 1904, matured Feb. 2 1904
Funded loan of 1907, matured July 2 1907
Refunding certificates, matured July 1 1907
Old debt matured at various dates prior to Jan. 1 1861
.and other items of debt matured at various dates
subsequent to Jan. 1 1861
Aggregate debt
maturity
•
on
Sept. 30.
$7,000 00
23,650 00
13,450 00
1,096,450 00
17,090 00
ceasedmatured
Aug. 18Sept.
f|1900,
1900 2 1891
unded Interest
loan of 1891,
'
Aug. 31.
which interest has ceased since
*
United States notes
■Old demand notes
National bank notes—Redemption account
-Fractional currency, less $8,375,934 estimated as
lost or destroyed
Aggregate debt bearing
no
interest
Aug. 31.
$346,681,016 00
53,282 50
30,730,387 75
Sept. 30.
$346,681,016 00
6,858,435 93
6,858,435 93
$384,323,122 18
$386,221,506 19
,
53,282 50
32,628,771 76
RECAPITULATION.
Classification—
Interest-bearing debt
Debt interest ceased
Debt bearing no interest
Sept. 30 1910.
$913,317,490 0$
2,063,685 26
386,221,506 19
Aug. 31 1910.
$913,317,490 00
2,069,545 26
384,323,122 18
Total gross debt.
.$1,301,602,681 45 $1,299,710,157 44
'Cash balance in Treasury*..
240,984.015 77
239,523,207 59
Total net debt
$1,060,618,665 68 $1,060,186,949 85
00
00
00
82
00
00
47
04
70
90
09
Outstanding checks and
drafts
10,410,558 30
Disbursing officers’ bal¬
83,934,995 49
ances
Post Office Department
account
Miscellaneous items
5,074,928 29
1,704,842 48
Total gen. liabilities..
126,036,063 96
Total in banks
48,047,441 79
In Treas. of Philippine Islands—
Credit Treasurer of U. S.
Cash Balance and Reserve—
1,361,189 57
Credit U. S. dis. officers.
> 3,767,064 65 Total cash and reserve.. 240,984,015 77
Made up of—•
Total in Philippines..
5,128,254 22 Available ...90,984,015 77
and
Reserve Fund Holdings—
Reserve Fund—
Gold coin and bullion...
Gold&bull.
150,000,000 00
150,000,000 00
..1,750,401,748 73
Grand total
1,750,401,748 73
TREASURY CURRENCY HOLDINGS.—The following
compilation, based on official Government statements, shows
the currency holdings of the Treasury on the first of July,
August, September and October 1910.
TREASURY NET HOLDINGS.
July 1 ’10. Aug. 1 *10.
$
$
Holdings in Sub-Treasuries—
Sept. 1 ’10.
$
Oct. 1 ’10
$
Net gold coin and bullion
..237,052,812 228,421,383 229,628,447 244,362,011
Net silver coin and bullion
14,622,399
16,754,880
19,296,005 19,602,603
Net United States Treasury notes
8,470
11,046
10,719
8,775
Net legal-tender notes......
10,495,935
8,789,039
6,320,278
5,325,879
Net national bank notes.
28,588,759 36,666,030 35,598,345 29,810,242
Net fractional silver
19,992,380 20,377,827 20,366,532
18,820,064
Minor coin, &c.
931,169
1,173,228
936,737
895,014
Total cash in Sub-Treasuries..313,824,405
Less gold reserve fund
150,000,000
Cash. bal. in Sub-Treasuries
Cash in national banks
Cash in Philippine Islands
314,734,558 312,463,661d313,844,384
150,000,000 150,000,000 150,000,000
163,824,405 164,734,558 162,463,661 163,844,384
48,047,442
51,685,340 48,390,919 48,765,121
4,447,450
6,228,662
6,110,364
5,128,254
Net Cash in banks, Sub-Treas.219,957,195 219,354,139 217,339,146 217,020,080
Deduct current liabilities.a
119,466,411 126,997,915 127,815,938 126,036,064
Available cash balance.!
100,490,784
92,356,224
89,523,208
90,984,016
Chiefly “disbursing officers’ balances.” d Includes $3,307,364 82 silver bullion,
$895,013 69 minor coin, &c., not included in statement "Stock of Money.”
a
URottetargi ©ommcrcial^tigltsTt^ews
DEBT STATEMENT SEPT. 30 1910.
Interest
Total trust liabilities. 1,383,381,669 00
Gen. Fund Liabilities—
National
bank 5% fund
70
24,910,739 40
00
Tot. In Sub-Treasuries 163,844,383 72
In Nat. Bank Depositaries
Credit Treasurer of U. S.
36,736,095 51
Credit U. S. dis. officers.
11,311,346 28
Grand total.
1910.
$
(000,000s
omitted).
LXXXXI
Increase (-f) or
Decrease (—).
—$5,860 00
+ 1.898,384 01
+$1,892,524 01
+1,460,808 18
+$431,715 83
[From
our own
correspondent.]
London, Saturday, Oct. 1 1910.
The directors of the Bank of England on Thursday raised
their rate of discount from 3% to 4%.
The advance was
universally expected, for on the preceding Monday the rate
of discount of the Imperial Bank of Germany was raised
from 4% to 5%.
Moreover, the President of the Imperial
Bank, when proposing the advance, uttered a warning to
speculators, and requested the assistance of the other banks
in checking speculation.
It was, therefore, generally antici¬
pated that the Bank of England would put up its rate of
discount.
Furthermore, on Thursday the Bank of Belgium
raised its rate from 3^% to 4%%.
There does not seem any reason to apprehend that money
will become either dear or scarce during the remaining three
months of the year.
There has been a good deal of gold
withdrawn from the Bank of England, it is true.
But the
withdrawals were expected.
They have been mainly for
Egypt, Turkey and Russia.
To begin with Russia, it has
for the second year in succession a good wheat crop, which it
is exporting very rapidly because of the bad harvests in
Central and Western Europe.
To move and market the
crop the note circulation
has increased enormously,
of the Imperial Bank of Russia
amounting at the date of the last
return—Sept. 21—to £125,620,000, being an increase in
seven weeks of as much as £17,851,000.
And although the
Imperial Bank has a gold reserve of £152,635,000, it has
All in a position
considered it wise to add to the reserve.
to be well informed believe that, now that rates are rising
in Western Europe, Russia will refrain from taking more gold.
With regard to Egypt, it is unfortunately true that worms
and fog have done some damage to the cotton crop.
But
the latest reports are that the damage is slight, and the best
estimates are that the crop will certainly reach 6 y2 million
cantars, and may exceed that quantity.
As there has been
depression in Egypt, and the Egyptian banks parted with a
good deal of their gold to the Indian banks, and likewise
sent back a considerable portion of what remained to Lon¬
don, the general review now is that Egypt will require this
year something between
to Thursday night she
five and six millions sterling.
Up
took actually £2,932,000. Therefore,
The foregoing figures show a gross debt on
Sept. 30 of it would seem that she will require something between two
91,301,602,681 45 and a net debt (gross debt less net cash and three millions sterling more. As we write, it is not
in the Treasury) of $1,060,618,665 68.
actually known how much will be withdrawn to-day, but
TREASURY CASH AND DEMAND LIABILITIES.— the rumors vary from half a million up to a million sterling.
The cash holdings of the Government as the items stood If a million sterling is taken, there will remain, therefore, at
the outside from 1 }& millions to 2 millions sterling to go.
September 30 are set out in the following:
*
Including $150,000,000
reserve
fund.
OCT. 8
1910.]
THE CHRONICLE
921
therefore favorable to better quotations, especially as the consumption of silver in
Respecting Turkey, no definite opinion can be formed. India
will most probably improve.
The Bombay quotation is Rs. 62 13-16 per 100
Turkey obtained a loan from the National Bank of Turkey tolahs for the October
settlement. -Arrivals—New York, £ 170,000; Mexico, £10,000;
some time ago by means of which she has
total,
£180,000.
Shipments—Bombay,
£250,000; Madras, £5,000; Port Said,
already taken
from the Bank of England £1,423,000.
She is trying to £1,170; Colombo, £1,130; total, £257,300.
The following shows the imports of cereal produce into
borrow in Paris, London and Berlin.
She will succeed some¬
where, of course; but on what conditions, or when, cannot the United Kingdom during the season to date, compared
be said.
The general impression is that, though she may with previous seasons:
;, IMPORTS.
take a certain amount of gold in addition to what she has
Three weeks—
1910-11.
1909-10.
1908-09.
1907-08.
taken, she will not be in a position to take anything like Imports of wheat
cwt
5,963,600
8,313,200
5,519,100
6,319,100
what would disturb the London money market.
Barley
1,288,200
1,694,000
2,397.400
1.631,200
Oats.
888,100
1,235,200
610,300
239.400
During the first three days of the week, the Stock Exchange Peas
149,729
77,630
43,580
53,950
Beans
was agitated by all sorts of rumors and by a general fall in
96,950
158,520
96,660
16,760
Indian corn-..
3,277,200
1,347,800
2,918,800
2,736,200
quotations. On Thursday morning, however, there was a Flour
546,700
562,900
699,800
708,500
complete change, which has continued up to the present.
Supplies available for consumption (exclusive of stock on
Apprehensions have subsided; hope has taken their place,
September
1):
and there has been a general recovery in quotations.
The
1910-11.
1909-10.
1908-09.
1907-08.’*
Wheat
Imported
cwt. 5,963,600
general impression now is that the long liquidation is really
8,313,200
5,519,100
6,319,100
-
over
Imports of flour
at last.
Sales of home-grown
The India Council offered for tender on
of its bills, and the applications exceeded
Wednesday 40 lacs
477^ lacs at prices
ranging from Is. 4 l-32d. to Is. 4 l-16d. per rupee. Appli¬
cants for bills at Is. 4 l-16d. per rupee were
allotted about
30% of the amounts applied for.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
<fcc., compared with the last four years:
1910.
1909.
1908.
Sept. 28.
Sept. 29.
Sept. 30.
£
£
Circulation
Public deposits
Other deposits
Govemm’t securities
Other securities
27,959,415
12,791,718
42,438,867
15,265.770
30,429,817
Reserve,notes&coin 27,839,325
Coin«kbull.,both dep 37,348,740
Prop,
reserve to liap. c.
p. c.
Consols, 2)4 p. c
1907.
Oct. 2.
£
£
29,708,985
8.834,801
42,721,015
15,231,754
28,640,485
25,976,073
37,235,058
29,550,010
8,091,262
42,517,288
15,732,293
26,237,614
26,917,535
38,017,545
Total
29,672,960
9,730,482
43,191,786
15,956,166
34,974.642
20,401,793
31,624,753
50 7-16
*4
80 1-16
50%
2%
53%
48%
38%
4
2)4
4%
83 1-16
85%
82%
86%
Silver.
23 ll-16d.
24%d.
23 %d.
30 13-16d.
31%d.
Clear.-house returns 216,682,000 267,182,000 248,799,000 279,960,000 294,814,000
*
Sept. 29 1910.
The rates for money have been
Sept. 30.
Bank of England rate
Open Market rale—
Bank bills—60 days
as
follows:
Sept. 23.
4
_
Sept. 16.
3
Sept. 9.
3
3
3 9-16
2 5-16
2%
3 11-16 2 13-16® 2% 2 13-16@2%
3 11-16 3)4@3 5-16 3 5-16@3%
3 11-16 3 5-16® 3%
3 5-16@3%
—3 months
—4 months
—6 months
Trade bills—3 months
—4 months
Interest allowed for deposits—
4
By joint-stock banks
By discount houses:
2K
3
3%
3 %@3 7-16
4® 4)4
3)4
3)4
3%@3%
3%®3%
3%
3K
2%
1%
1%
1%
2)4
2%
1%
1%
1%
1%
1%
IK
The bank rates of discount and
open market rates at
chief Continental cities have been as follows:
..
Copenhagen
The
Oct. 1.
Bank
Open
Rale. Market.
3
2%
Hour, equal to.
qrs.J
Maize
qrs.
as
the
31s. 5d.
31s. 7d.
..
Preferred
Baltimore & Ohio
Preferred.
Canadian Pacific.1
_
.
5
5
5
4
4%
4
4)4
6
5
4%
4 %
4%
3%
3
4
4
4
4
4
5
3%
314
2%
4
3%
3 15-16
4
3 15-16
noni.
4
5
nom.
4
3%
4
5
4%
4
4%
5
4
5
are
reported
4
4
5
3%
4
4
nom.
4
4
as
3
4
Pixley & Abell write
as
2%
3%
3%
3%
4%
2%
3%
4)4
4%
5
nom.
4
4
..
.
.
.
...
Sept. 22.
d.
24 11-16
24%
26%
nom.
follows under date of
.
Pennsylvania
Reading Co
a First preferred
a Second preferred
.
.
.
1908.5 5®
1,470,000
200,000
840,000
.
.
.
75
28
47
36
135%
75
28
47
36
136
149
148%
80H
80 5-16
80 3-lt,
198%
82%
25
126%
33%
75%
28
47
38
136%
149%
33%
34
65
65
65%
72%
32%
71%
32%
72
117
43
100
92
117
43
100
92
120%
66%
75%
45%
50%
120%
32%
117%
43
101%
92
122
67
76
45
66%
75%
45%
50%
118%
24%
50%
118%
24%
57%
56
173
94
72
121
172%
93%
71%
120%
17%
38%
.
.
.
...
80%
33%
.
.
Tues.
Wed.
24 13-16 24%
93
199%
81%
24%
125%
32%
Southern Pacific
.118
Southern Ry. com.
24%
Preferred..
56
Union Pacific
172
Preferred
94
U. S. Steel Corporation
70%
Preferred
.120%
Wabash
17%
Preferred..
38%
Extended 4s..
68
a Price per share,
b £ sterling.
.
...
1,530,000
155,000
685,000
17%
68
.
Thurs.
Fri.
24 15-16 25 1-16
80 3-16 80 5-16
80%
80%
97.22% 97.27%
66%
68%
8%
8%
102%
103%
103
103%
110
109%
-
93
93
198%
83%
199%
25.
24%
125%
127
33
75
93
201
84
24
126 ^
33
75
83
33
75
28%
47%
37
136
28%
28%
47%
47%
37
149%
33%
65%
72
136%
37
136
149
149%
34%
65
71%
32%
117%
43%
101%
91%
122
66%
76
45
33
116%
42%
101%
36
65%
72% ^
33%
117% i
42
*
101 %
91
122
91
120%
66%
75%
66%
75%
45
45
50%
118%
24%
57
173
50%
117%
24%
50%
118%
251
56
56
171%
94%
72%
121%
17%
94
<
172%
94]
71%
72
121
■
121%
39
39
17%
38%
68%
68%
67
17%
•
38
67
©nrarajerctal and g&iscjeUantntts Hems
GOVERNMENT REVENUE" AND EXPENDITURES’—
Through the courtesy of the Secretary of the Treasury, we
enabled to place before our readers to-day the details of
Government receipts and disbursements for the month of
September. From previous returns we obtain the figures for
are
GOLD.—This week’s arrivals totaled £650,000, and after supplying India with
£100,000 the balance was taken by Turkey, Russia and Germany at 77s. 9 %d., an
advance of )4d. on last week’s quotation.
Next week we expect £888,000 from
South Africa.
There have been further withdrawals in sovereigns for abroad from
the Bank, £300,000 having gone to Egypt, £300,000 to
Turkey, £250,000 to South
America, £10.000 to Lisbon and £5,000 to Peru, while the Bank has received
from
£6,000
Australia.
Arrivals—South Africa, £511,000; India, £73,000; Aus¬
tralia, £20,000; New Zealand, £55,000; total, £659,000. Shipments—Bombay,
£112,125; Calcutta, £61,250; total, £173,375.
SILVER.—The market has had a firmer tone during the week and quotations,
after advancing yesterday to 24 %d. for
spot and 24 13-16d. for forward, close to-day
at l-16d. lower, an Improvement on the week of
%d. This has been chiefly due to
support from India, where quotations show a marked advance, and to the absence
of any pressure to sell.
The stock In Bombay is still 17,400 bars and the offtake
averages 75 bars a day, but the dealers there appear to have confidence in the state
of the market.
China exchanges have lagged somewhat behind London quotations,
and orders both to buy and sell have been rather limited from that
quarter.
At the
close the market is steady.
The Bombay quotation is Rs. 62% per 100 tolahs.
Arrivals—New York, £195,000; West Indies, £6,000; New Zealand, £5,000;
total,
£206,000.
Shipments—Bombay, £93,000; Colombo, £10,500; Port Said, £2,000;
total, £105,500.
Pixley & Abell write
September 29:
.
.
follows:
91
81%
24%
125%
32%
..
Denver & Rio Grande..
Preferred
Erie
First preferred
Second preferred
Illinois Central
Louisville & Nashville
Missouri Kansas & Texas.
Preferred
Nat. RR. of Mex. 1st pref
Second preferred
N. Y. Central & Hud. Riv_.
N. Y. Ontario & Western...
Norfolk & Western..
Preferred
Northern Pacific
a
214
3%
3%
3%
4%
2%
wcek.'z'fg 1909.
97.12% 97.15
66%
67%
8%
8%
104
103%
103%
103%
110
109%
103%
109%
200
.
97.05
66%
8%
109%
90%
..
80%
103
104
.
Chesapeake & Ohio
Chicago Great Western
Chicago Milw. & St. Paul
Rate. Market.
3
'
Mon..
Sat.
..
Amalgamated Copper Co
66%
b Anaconda Mining Co
8%
Atch. Topeka & Santa Fe... 102%
Rate. Market.
2%
of wheat, flour and
J2,215,000
\ 115,000
1,260.000
1,305,000
For account
80 3-16
French Rentes (In Paris).fr. 97.27%
Rate. Market.
3
4
4
4
Last
Silver, per oz..
24 15-16 24%
Consols, new, 2 % per cents.. 80 3-16 80%
a
Sapt, 22:
as
follows under date of
GOLD.—Total arrivals this week amounted to £960,000, of which India has taken
about £120,000.
The balance has been bought for the Continent, chiefly Germany
and Russia, at 77s. 9d. Next week we expect £609,000 from South Africa and £ 110,
000 from India.
The withdrawal of sovereigns from the Bank for abroad continues,
and since our last circular £1,135,000 has been taken for Egypt, £100,000 for Turkey
£30,000 for Argentina and £6,000 for Gibraltar. This continuous drain has forced
the Bank to-day to raise its rate from 3%, at which it has stood since June 9, to 4%.
Arrivals—South Africa, £889,000; Australia, £71,000; total, £960,000.
Shipments
—Bombay, £91,750; Colombo, £10,000; total, £101,750.
SILVER.—Better support from China and continued purchases for India have
raised quotations to 24 13-16d. for spot and 24%d. for forward, an advance of %d.
on last week’s closing prices.
The highest quotations were touched on the 27th inst.,
when 24 %d. was quoted for both spot and forward.
Some selling by both India
and China depressed prices yesterday, when 24*4d. was quoted for spot and
24 13-16d. for forward, and the market was a dull one.
To-day, however, India
has again been a buyer and the market closes steady at the above quotations.
As
the large Indian speculator continues to hold his purchases and shows no disposition
to unload, the market generally Is gaining confidence in the position of the
metal
and it Is becoming evident that China will have to buy silver steadily to finance her
excellent crops of Soya beans and other produce.
The prospects of the market are
10,353,336
31s. 7d.
31s. 3d.
English Financial Markets—Per Gable.
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
London
Week ending Oct. 7.
Sept. 10.
Bank
Open
‘‘
"
7,723.404
33s. 6d.
35s. 2d.
The
Sept. 17.
Bank
Open
GOLD.
Sept. 29. Sept. 22.
SILVER.
Sept. 29.
London Standard.
s.
d.
s.
d
London Standard.
d.
Bar gold, fine, oz
77 9
77 9)4 Bar silver, fine, oz
24 13-16
U. S. gold coin, oz
76 5
76 5
2 mo. delivery, oz.24%'
German gold coin, oz.. 76 5
76 5
Cake silver, oz
26 %
French gold coin, oz.. 76 5
76 5
Mexican dollars
nom.
Japanese yen..
76 4
76 4
Messrs.
9,920.286
30s. 2d.
31s. Od.
This week.
—qrs. 12,320,000
Wheat
Sept. 24.
Bank
Open
quotations for bullion
Messrs.
8,003,515
The following shows the quantities
maize afloat to the United Kingdom:
.
Frankfort
Amsterdam
Brussels
Vienna
St. Petersburg
Madrid
708,500
3.325,736
__
..
At call
7 to 14 days
Hamburg
599,800
1,604,504
.
billties
Bank rate
Rales of
Interest at—
Paris
Berlin
562,900
1,044,186
Average price of wheat for week..
Average price, season..
1906.
Oct. 3.
£
29.920,490
8,621,052
43.783.812
14.335,700
30,820,967
25,636,348
37,106,838
546,700
1,493,215
previous months, and in that
manner complete the state¬
ments for the 9 months of the calendar years 1910 and 1909.
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
1910.
July. |
Aug.
1909.
Sept.
9
Mos.
July.
Aug.
$
1
$
$
$
$
$
$
25.051 29.279 27,558 246,818 28,673 28,590 27,335
29,582 22,963 25,937 226,640 21,208 19,719 21,877
4,185j 2,727 2,489 38,499 3,910 2,773 3,136
Receipts—
Customs
Internal revenue*
Miscellaneous
9
Sept.
’
Mos.
$
.
85,888
64,158
10,961
Total receipts
58,818 54,969 55,984 511,957 53,791 51,082 52,348 161,007
1
Disbursements—
Civil and miscellaneous 21,528 16,532
44,541
War
20,118 14,723 15,027 116,665 21,914 12,716 14,850 49,745
9,924
9,786
89,889
Navy
10,302
10,472 10,110 10,848 32,303
Indians.
1,533 1,948 1,222 14,752 1,390 1,952; 1,089
4,563
Pensions
13,877 14,977 13,154 119,650 13,935 15,755 13,114 42,805
Postal deficiency
2,001
3,599 1,500 3,000 3,002
7,502
Interest on public debt. 3,247 l',90i
108 15,892 3,279’ 1,889
130
5,298
Panama Canal
4,441 2,537 3,888 28,466 3,068 2,004 3,188
8,262
14,206'138,061
17,218^14,23l|ll,847
,
Total disbursements. 75,046 62,542 59,392 526,973 72,776 61,657 58,068 195,019
Less repayment of un¬
expended balances.. 2,193 1,466
3,168 2,464 1,159 1.911 4,616
2,977|
Total..
72,853 61,076 56,415 523,805 70,612
)
60,498|56,157 190,403
*
Includes corporation tax of $22,967 for September and $23,586,964 for the six
months i his year.
Note.—1909 receipts do not Include $30,731,008 prooeeds of Panama Canal bonds
BANK NOTES—CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS, &c.—We give below tables which
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit.
The statement for September
1909 will be found in our issue for Oct. 16 1909, page 973.
'
Tm CHRONICLE
Bonds and Legal Tenders
oh Deposit for
ITO9-10.
Circulation
Legal
'Bonds.
Bonds.
Tenders.
688,157,577
687,132,323
720,795,606
717,321,051
712,029.468
713,430,733
712,242,841
26,438,190
684,468.093
685,517,013
682,765,703
683.254,858
685,311,486
679.387,520
681,332,354
683,401,523
680,995,267
25,595,793
32,638,029
30.188.728
27,561,375
27,913,720
29,477,138
30.206.728
31,947,510
30,635,348
28,546.979
26,952,730
26,438.190
678,344,963
25,595,793
703.940,756
Total
S
Sept 30 1910
Aug. 31....
July 31
691,961.860
689.813.710
688,458 280
686,974,880
685,671,510
June 30....
May
31—.
April 30
684,943,460
...
Mch. 31
;
Feb. 28....
Jan. 31....
Dec. 31 1901'
Nov. 30
Oct. 30
683.675.710
682,695,850
681,518,900
683.437,240
631,689,370
679,545,740
32,638,029
30.188.728
27,561,375
27,913,720
29,477,138
30.206.728
31,947,510
30.635,348
28,546,979
26,952,730
713.461.586
717.258,996
710.022.868
704,879.333
710,354.253
707,433.457
The following shows the amount of each class of bonds
held against national bank circulation and to secure
public
moneys in national bank depositories on Sept. 30.
U. S. Bonds Hid Sept.
Bonds
on Deposit
Sepl. tO 1910.
Bank
s
4% Loan of 1925
3% Loan of 1908-1918.
2% Consols of 1930
2% Panama of 1936
2% Panama of 1938
4% Philippine Loans.
4% Porto Rico Loans
3.65% District of Columbia
Various, Territory of Hawaii
4% Philippine Railway
Various, State, City and Railroad..
Total...
691,961,860
(
Total
Held.
C
S
20,426,650
15,284,540
578,290,950
51,224,700
26,735,020
...
20 to Secure—
Public Deposits
in Banks.
Circulation.
4,789,000
4,148,300
25,014,900
2,798,000
1,405,000
4,748,000
1,084,000
872,000
663,000
146,000
3,043,000
25,215,650
19,432,840
603,305,850
54,022,700
28,140,040
4,748,000
1,084,000
872,000
663,000
146,000
3,043,000
48,711,200
740,673,060
The following shows the amount of national bank notes
afloat and the amount of
legal-tender deposits Sept. 1 and
Oct. 1 and their increase or decrease
during month of August:
National Bank Notes—Total Afloat—
Amount afloat Sept. 1 1910.
Net amount Issued during September.
$717,321,051
3,474,555
Amount of bank notes afloat Oct. 1 1910
$720,795,606
Legal-Tender Notes—
Amount on deposit to redeem national bank notes
Sept. 1 1910
Net amount of bank notes Issued In September
Amount
,
on
$30,188,728
2,449,301
deposit to redeem national bank notes Oct. 1 1910
$32,638,029
FAILURES FOR THE THIRD QUARTER AND SINCE
JAN. 1.—The following figures,
prepared from Messrs. R. G.
Dun & Co.’s statement, show the number of failures in the
United States and Canada during the quarter
ending Sept. 30
1910, and for the nine months ending with the same date.
For purposes of comparison, like
figures for the corresponding
periods of the preceding
year are
given:
1910.
No. of
Failures.
Third Quarter—
New England States
Middle States
Southern States
Southwestern States....
Central Western States.
Far Western States
Pacific States
Aggregate United States...
Dominion of Canada
235
779
531
268
554
314
330
(not included In above)
...
Aggregate United States.
Dominion of Canada
(not included In above).
$1,584,726
17,894,278
7,328,752
2,788,315
7,397,307
2,505,862
2,678,758
No. of
Failures.
Amount of
Liabilities.
259
635
525
208
685
239
284
$3,232,510
9,602,859
4,716,276
2,082,002
4,736,585
1,581,118
1,643,148
3,011
$42,177,998
2,835
$27,594,498
277
$2,246,071
307
$2,170,515
Banking failures In United States
Nine Months—
New England States
Middle States
Southern States
Southwestern States
Central Western States.
Far Western States
Pacific States
1909.
Amount of
Liabilities.
27
$5,904,722
12
799
836
916
941
$6,478,851
70,934,326
23,486,188
9.609,666
28,021,244
8,843,843
7,043,186
9,399
$154,417,304
9,666
$116,135,871
686
$11,998,612
1,068
$9,819,774
2,516
1,735
770
1,722
76
$27,285,059
2,155
2,042
844
1,976
886
927
56
$4,457,550
*
$9,735,675
44,860,791
22,305.497
6,739.140
19.096,630
6,906,947
6,491,191
$19,919,104
The record of failures by quarters for the three
quarters
of the last twenty-four years is as follows:
First Quarter.
Years—
No. of
Failures.
1887
1888.....
1889
3,007
2,948
1909...r.
3,311
3,223
3,545
3,384
3,202
4,304
3,802
4,031
3,932
3,687
2,772
2,894
3,335
3,418
3,200
2,344
3,443
3,102
3,136
4,909
3,850
1910.—
3,525
1890
1891
1892
1893
1894.....
1895
1896
1897
1898
1899
1900.....
1901
1902...—
1903
1904
1905
1906
1907
1908.....
Amount of
Liabilities.
$32,161,762
38,884,789
42,972,516
37.852.968
42,167,631
39,284,349
47,338,300
64,137,333
47,813,683
57,425,135
48,007,911
32,946,565
27,152,031
33,022,673
31,703,486
33,731,768
34,344,433
48,066,721
30,162,505
33,761,107
32,075,591
75,706,191
44,460,950
73,079,154
Second Quarter.
No. of
Failures.
1,905
2,241
2,292
2,162
2,529
2,119
3,199
2,735
2,855
2,995
2,889
'3,031
2,081
2,438
2,424
2,747
2,428
2,870
2,767
2,510
2,471
3,800
2,981
2,863
Amount of
Third Q uarter.
No. of
Liabilities.
Failures.
$22,976,330
29,229,370
22,856,337
27,466,416
50,248,636
22,989.331
121,541,239
37,601,973
41.026.261
40,444,547
43,684,876
34,498,074
14,910,902
41,724,879
24,101,204
26,643,098
32,452,827
31,424,188
25,742,080
28.902,967
37,493,071
48,608,642
44.080,423
39,160,152
1,938
2,361
2,276
2,196
2,754
1,984
4,015
2,868
2,792
3,757
2,881
2,540
*
STOCK OF MONEY IN THE
COUNTRY.—The following
table shows the general stock of
money in the country, as well
as the
holdings by the Treasury and the amount in circula¬
tion, on the dates given.
Afloat UnderLegal
Tenders.
2,001
2,519
2,324
2,511
2,548
2,969
2,596
2,300
2,483
3,237
2,835
3,011
Amount of
Liabilities.
$73,022,556
22,114,250
30,227,045
35,452,436
44,302,494
18,659.235
82,469,821
29,411,196
32,167,179
73,285,349
25,601,188
25,104,778
17,640,972
27,119,996
24,756,172
25,032,634
34,858,595
32,168,296
20,329,443
21,996,163
46,467,686
55,302,690
27,594,498
42,177,998
LXXXXI.
999...88865550743621———“"““TTThhheee
-Stock of Money Oct. 11910
In United
Held in
States.
Treasury, d.
$
$
Money in Circulation—
Oct. 1
1910.
$
Gold coin and bullion
*1,683,398,050 195,149,301
Gold certificates a.
49,212,710
Standard silver dollars...
564,731,508
6,076,547
Silver certificates a
5,238,487
Subsidiary silver.
b £55,317,506
18,820,064
Treasury notes of 1890....
3,546,000
8,775
United States notes.
346,681,016
5,325,879
National bank notes
720,795,606
593,070,080
845,965,959
73,997,961
479,418,513
...
Total
598,443,000
805,517,159
73,578,729
479,690.831
136,497,442
3,537,225
341,355,137
690,985,364
29,810,242
...
Oct. 1
1909.
$
138,448.872
4,063,835
342,402,092
679,165,508
3,474,469,686 309,642,005
3,164,827,681 3,121,310,026
Population of the United States Oct. 1 1910 estimated
at 90,724,000; circulation
per capita, $34 88.
* A
revised estimate by the Director of the Mint of
the stock of gold coin was
adopted In the statement for Aug. 1 1907. There was a
reduction of $135,000,000.
a For redemption of
outstanding certificates an exact equivalent In amount of the
appropriate kinds of money is held in the
Treasury, and is not included in the
account of money held as assets of the
Government.
b A revised estimate by the Director
of the Mint of the stock of
subsidiary silver
coin was adopted in the statement of
Sept. 1 1910. There was a reduction of
$9,700,000.
d This statement of money held In the
Treasury as assets of the Government does
not include deposits of
public money in national bank depositaries to the credit
of
the Treasurer of the United
States, amounting to $36,736,095 51—
National
Banks.—The
following information regarding
Comptroller of the
Currency, Treasury Department:
national banks is from the office of the
APPLICATIONS TO CONVERT INTO NATIONAL
BANKS
APPROVED.
The Bank of
Livermore, Livermore,
Merchants National Bank of Livermore.”California, into “The Farmers ft
Capital $50,000.
CHARTERS ISSUED TO NATIONAL BANKS
SEPTEMBER 22 TO
SEPTEMBER 28.
Dickson City National Bank”, Dickson
Pennsylvania.
Capital. $50,000. John J. Aitken, President; City,
Theo. H. Welland,
Vice-President; Chas. M. Carr, Cashier.
Farmers’ National Bank of New Castle,” New
Castle, Indiana.
Capital, $100,000. C. W. Mouch, President; W. F.
Byrket, VicePresident: Fred Saint, Cashier; John K. Burgess,
Assistant Cashier.
Farmers’ National Bank of Crystal
Lake, Crystal Lake, Iowa.
Capital, $25,000. H. R. Kluver, President; Ed. Peterson
and
J. C. Nelson, Vice-Presidents; W. P.
Jones, Acting Cashier.
Olney National Bank of Hartford, Hartford, Michigan.
Capital,
H. M. Olney, President: E. Burt
$25,000.
Jenney, Vice-President
and Cashier.
First National Bank of
Stevenson,”
Alabama.
Capital, $25,000. W. J. Tally, President: J. Stevenson,
Z. Schulzt and O. L.
Bunn, Vice-Presidents; J. Z. Schultz, Cashier.
Oklahoma Stock Yards National Bank of Oklahoma
City,”
Oklahoma City,
Oklahoma.
Capital.
$250,000.
Thomas
P.
Martin Jr.t President; E. F. Bisbee,
Vice-President; R. J. Robb.
Cashier.
First National Bank of Cato,” Cato, New
Yoxk.
Capital,
$25,000.
J. W. Hapeman, President;
George A. Cooper, VicePresident; Duane Wyckoff, Cashier.
First National Bank of Veblen,” Veblen, South
Dakota,
Capital, $25,000. J. H. Movlus, President; Ben. F.
Hammerstad,
Vice-President; Geo. F. Anderson, Cashier; Ed. J. Rodlne,
Assistant
Cashier.
Somerville National Bank,” Somerville, Ohio.
Capital.
$25,000. W. T. Hancock, President; J. W.
Cummings, First VicePresident; Charles Kapp, Second Vice-President: W. B.
Bell, Cashier.
First National Bank of Covington,”
Covington, Indiana.
Capital, $50,000. W. W. Layton, President; A. T. Colllson and
I. H. Dlcken, Vice-Presidents; H. E. Mayer. Cashier.
Auction
Sales.—Among other securities
the
following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
•
Stocks.
3 Title Guar. A Trust Co
15 N. Y. Prod. Ex. Bank
497K $100,000 Independent Union Tel.)
Co. of Buffalo 1st 5s, 1927
161M
$100,000 Nat. Telephone Corp. )$5,000
of Va. 1st 5s, 1959, Jan.
19101
1,600 United Copper Co. com.4 M to 4M
$5,000 Union
F. ft A
Bonds.
Ry.
1st
5s,
1942.
100M ft lnt.
coupons attached
j
$8,000 La France Copper Co. 1st 6s,
1932. Jan. 1910coup, attached. 10
DIVIDENDS.
The
uture
following shows all the dividends announced
by large or important corporations:
Dividends announced this week
Name
are
Per
Cent.
of Company.
for the
printed in italics.
When
Books Closed.
Payable.
Days Inclusive.
Railroads (Steam).
Atch. Topeka A S. Fe, com. (qu.) (No. 22)
Central RR. of New Jersey (quar.)
Clev. Cine. Chic, ft St. L., pref. (quar.)
DM. Lackawanna ft Western (quar.)..
Erie ft Pittsburgh (quar.)
Evansville ft Terre Haute common
1M
2
1H
2M
...
Preferred
..
Georgia RR. ft Banking (quar.)
Georgia Sou. A Florida, 1st A 2d pref....
Groat Northern (quar.)
Kansas City Southern, pref. (quar.)
Minn S.P.&s s M..co<n ftoref (So. 15)
Nat. Rys. of Mexico, 1st pref. (extra)
N. Y. Central ft Hudson River (quar.)..
Norfolk ft Western, preferred (quar.)
Northern Pacific (quar.)
Philadelphia ft Trenton (quar.)
Pitts. Cln. Chic, ft St. L., com.ftpf.(qu.)
Reading Co., second preferred
St. Louts A San Fran., 1st pref. (quar.)..
Toledo St. Louis ft Western, pref. (quar.)
United New Jersey RR. ft Canal (quar.).
Utica Chenango A Susq. Valley, guar
Warren, guaranteed
Western Maryland, preferred (quar.)
Street and Electric Railways.
Aurora Elgin ft Chic. RR., com. (quar.)
Preferred (quar.)
Binghamton (N. Y.) Ry
Boston Suburban Elec. Coe., pref. (quar.)
Brooklyn City RR. (quar.)
Cln. Newport ft Cov. Lt. *Tr.,com .(qu.)
...
Preferred (auar.)
Dallas El. Corp., 1st pref. (No. 3)
Second preferred (No. 6)
Denver ft Northwestern (quar.).....
...
Gary ft Interurban Ry. (quar.).....
East St. Lottie A Sub., pref. (quar.) (No 18)
Macon Ry. A Light, common
Preferred
1
5
2Mb
2M
2M
1X
1
3M
Dec.
Nov.
Oct.
Oct.
Dec.
Nov.
Oct.Oct.
NOV.
NOV.
Oct.
uct.
1
1
20
20
10
1
15
15
2
1
15
15
Nov. 4c
Oct.21a
to
Oct. 26
Holden of rec. Oct. 3a
Holden of roe. Nov.30a
Sept. 18
to
Oct. 17
Holden of rec. Sept. 15a
Oct.
2
to
Oct. 14
Holden of rec. Oct.
6
Holden of rec. Oct. 18a
Holden of rec. Sep.30a
Holden of rec. Sept. 30a
15
18
1
10
25
10
Holden of reo.Sept.22a
Holden of rec. Oct.3la
Holden of rec. Oct. 13a
Oct.
1
to
Oct. 10
Holden of rec. Oct. 16a
Holden of rec. Oct.22a
Oct. 15
to
Nov. 14
Holden of rec. Sept. 30a
1
to
Sept.
Sept. 30
Holden of rec. Oct. 15a
Holden of rec. Oct. 5a
Oct. 12
to
Oct. 19
1
1M
Oct.
1
Nov.
1H
2M
IH
Nov.
Oct.
Oct.
Nov.
Nov.
Oct.
Oct.
Nov.
Oct.
Oct.
2
1
1
2M
3
3M
1
H
1M
2M
$1
2
1M
1M
3
1
2
1
IK
IK
3
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Sept.
Sept.
1
15
10
1
15
20
10
10
1
15
15
15
15
10
10
10
10
Holden of
Holden of
Oct.
rec.
rec.
1
Holden of rec.Sept.23a
Holden of rec.Sept.23a
Holden
Oct.
5
Oct.
1
Oct.
1
Holden
Holden
Holden
Oct.
1
1 Holden
30
30
of rec.
to
to
to
of rec.
of rec.
of rec.
to
of rec.
Oct. 6a
Oct. 16
Oct. 15
Oct. 15
Oct. 5a
Oct. 5a
Oct. la
Oct. 10
Oct 15a
Oct. 8 1910. J
THE CHRONICLE
Per
Cent.
Name of Company.
Street and Electric Railways (Concluded).
Manchester (N.H.) Tr.,L.APow. (quar.)
Northwestern El. RR., Chic., pref. (qu.).
Ottumwa (la.) Ry. A Light, pref. (quar.)
Philadelphia Company, common (quar.)
Common (extra)
Porto Rico Rys., pref. (quar.)._.
Rio de Janeiro Tram., Lt. A Pow. (qu.)..
Seattle Electric Co., com. (qu.) (No. 8)
Syracuse Rapid Transit, pref. (quar.)
Toledo Bowling Green A Sou. Tr., pf.(qu.)
West Penn Traction, pref. (quar.)
Youngstown dk Ohio River RR., pref
Banks.
New York Produce Exchange (No. 61)-Trust Companies.
Union (quar.)
Fire Insurance.
North River
Miscellaneous.
Alliance Realty (quar.)
Amer. Agrlcul. Chem., pref. (No. 23)._
American Chicle, common (monthly)
Amer. Light dk Traction, com. (quar.)
Common (payable in common stock)....
Preferred
(quar.)
American Locomotive, pref. (quar.)
Amer. Malt Corporation, preferred
American Malting, preferred
Amer. Seeding Machine, pref. (quar.)..
American Shipbuilding, preferred (quar.)
Amer. Smelt. A Rfg., com. (qu.) (No. 28)
Amer. Teleoh. A Telegr. (quar.)
American Type Founders, com. (quar.)..
Preferred
American Woolen, pref. (quar.) (No. 46)
Anaconda Mining (quar.) (No. 40)
Associated Gas A Elec., pref. (quar.)....
Associated Merchants, 1st pref. (quar.).
First preferred (extra)
:
Second preferred (quar.)
Second preferred (extra)..
Bell Telephone of Canada (quar.)
Bell Telephone of Pennsylvania (quar.)..
Butte Elec. A Pow., pref. (quar.) (No. 37)
.
-
_
Canadian Westlnghouse,Ltd.(qu.)(No.23)
Central Coal A Coke, common (quar.)
Preferred (quar.)
Central A S. A. Teleg. (quar.)..
Chicago Pneumatic Tool (quar.)
Clafiin (H. B.), common (quar.)
Consol. Gas, El. L. A P., Balt., common
Consolidated Ice, preferred (quar.)
Corn Products Refining, pref. (quar.)
Del. Lackawanna A Western Coal (quar.)
Detroit Edison (quar.)
Distillers’ Sec. Corp. (quar.) (No. 32)..
Distilling Co. of America, pref. (quar.)..
du Pont(E.I.)de Nemours Powd., Df .(qu.)
Eastman Kodak, common (extra)
1
Electrical Securities Corp., preferred
General Electric (quar.)
Goldfield Consolidated Mines (quar.)
Extra
Harbison-Walker Refrac., pref'. (quar.)...
Illinois Brick (quar.)
Intercontinental Rubber, oom. (No. 1)..
Inter. But’hole Sew. Mach. (qu.)(No.52)
International Harvester,oom.(qu.)(No.3)
International Nickel, common (quar.)..
Common (extra)
Preferred (quar.)
International Paper, pref. (quar.)
Internet. Smokeless Pow. A Chem., pref.
Int. Steam Pump, pref. (quar.) (No. 46)..
La Rose Consolidated Mines (quar.)...
Massachusetts Gas Cos., common (quar.)
Massachusetts Ltg. Cos. (quar.) (No. 28)
Mexican Lt. A Pow., Ltd. com. (quar.)..
Mexican Telegraph (quar.)
Michigan State Telephone .pref. (quar.)
National Biscuit, com. (quar.) (No. 48)..
National Carbon, common (quar.)
National Fire Proofing, pref. (quar.)
New York Air Brake (quar.)
New York Dock, preferred..
Niagara Falls Power (quar.)
Nlpisslng Mines (quar.)
Extra
Northern States Power, pref. (quar.)
Nova Scotia Steel A Coal, com. (quar.)..
Preferred (quar.)
Oklahoma Gas A Elec., pref. (quar.).
Otis Elevator, common
Preferred (quar.)...
Pacific Teiep. A Teleg., pref. (quar.)...
2
1
IX
1X
X
IX
IX
IX
IX
IX
IX
X
15
18
15
1
1
10
1
15
10
Statement of New Tork
£
Oct.
1iolders of rec.
< )ct.
9
to
holders of rec.
adders of rec.
adders of rec.
3ct.
1
to
aolders of rec.
Iolders of rec.
Holders of rec.
1 Oct. 21
to
15 Oct.
8
to
5 Holders of rec.
Oct.
15 Holders of
Oct.
8
Oct.
10 Oct.
6
to
Oct.
9
Oct.
10 Oct.
4
to
Oct.
9
Oct.
Oct.
Oct.
Nov.
15
15
20
1
1
1
21
2
1
15
15
15
15
15
15
15
19
15
15
15
15
15
15
15
€>ct.
rec.
Oct.
Oct.
la
18
n
Sept. 30
C
Oct.
Oct.
Oct.
Oct.
la
la
10
15
2
3
1
2X
Xatk Nov.
IX Nov.
IX Oct.
1
62c.
Nov.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Dec.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Dec.
Dec.
Nov.
Oct.
Nov.
Nov.
Oct.
Nov.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
IX
IX
1
2
1
IX
IX
50c.
IX
IX
X
IX
X
2
IX
IX
IX
IX
IX
IX
1
2
2
IX
1
2X
IX
X
1
IX
10
2X
2
30c.
20c.
IX
2
1
1\
1
1
X
IX
X
4
IX
2
1
IX
1
2X
IX
IX
IX
1
IX
2
2
5
2X
IX
l*
Preferred (quar.)
Reece Buttonhole Mach, (qu.) (No. 98)
Rhode Isld. Perk. Horseshoe, pref. (quar.).
San Diego Cons. Gas A Elec., pref.(qu.)
Shawlnigan Water A Power (quar.)
Southern New England Telephone (qu.)
Standard Milling, pref. (No. 15)
Standard Underground Cable (quar.)
Texas Company (quar.)
Trow Directory Ptg. A Bookbinding
Union Bag A Paper, pref. (qu.) (No. 46)
Union Switch A Signal, com.Apref.(qu.)
United Cigar Stores, Corp. of(qu.)(No.5)
lily results.
j-
Sep.22a
Sep.24a
Oct.
Oct.
;
In the
We omit two ciphers
Banks.
00s omitted.
Sept. 30
Holders of rec. Oct.
5
Holders of rec. Sept 30
Oct. 15
to
Oct. 20
Oct. 14
to
Oct. 31
Oct. 14
to
Oct. 31
Oct. 14
to
Oct. 31
3ept. 22
to
Oct. 20
Oct. 21
to
Nov. 10
Oct. 21
to
Nov. 10
Holders of rec. Sept.30a
Sept. 18
to
Oct. 16
to
Oct.
1
Oct.
6
Holders ofrec. Sept. 30a
Holders of rec. Oct 10a
Holders of rec. Oct. 10a
Oct.
Sept. 24
to
6
Holders of rec. Oct. 6a
Sept. 30
Capital.
Holders
Holders
Holders
Holders
Holders
Oct.
6
Holders
Oct.
1
Oct.
1
Oct.
1
Holders
Oct. 16
Holders
1
10
15
15
8
25
15
1
20
10
15
15
31
29
25
1
1
15
31
31
20
15
1
15
15
1
1
1
15
15
of
of
of
of
of
1
0
2
10
Vlrglnla-Carolina Chem.,pf.(qu.)(No. 60)
Vulcan Detinning, pref. (quar.)
Western Union Teleg. (quar.) (No. 166)
Westlnghouse Air-Brake (quar.)
Extra
Special
Westlnghouse Eleo. A Mfg., preferred.
Extra
White (/. O.) A Co., Inc., pref. (quar,)..' ;
1
(
{
t
i
i
i
4
i
4
itf
\
(
j.
{
l
1
\
J
}
<■
J
2
rec.
J
I
I
I
rec.
Sep.24a
I
rec.
Oct. 16
of rec. Oct. 15a
Oct.
9
to
to
Oct. 16
to
Oct. 16
of rec. Sept. 30<z
to
Oct. 25
of rec. Oct. 7a
to
I
^
J
I
J
}
<
Oct. 19
Oct. 19
J
to
to
Oct.
15
15
15
15
15
15
15
15
15 Holden of reo. Sept. 26
25 Holden of rec. Oct. 15a
31 Holden of rec. Oct.21a
15 Sept. 25
to
Oct. 16
15 Holden of rec. Oct. la
15 Holden of rec. Oct. la
3C Holden of rec. Nov. la
15 Holden of rec. Oct.
5
15 Holden of rec. Oct.
4
15 Holden of reo. Sept. 30
2( Holden of rec. Oct.
7
15 Oct.
to
1
Oct. 15
31 Oct. 26
to
Oct. 31
1(
Sept. 3G
Oct.
17 Oct.
6
to
Oct. 16
1C Holdenof reo. Sept. 30a
Oct.
1
1C
Oct.
Oct.
1
to
Oct. 10
Oct.
11 Oct.
2
Oct. 16
to
Oct.
1J 1 Oct.
to
2
Oct. 16
:
Nov.
NOV.
Holden of rec. Oct.22a
11 i Holden of rec. Sept. 27a
Oct.
> Holden of reo. Oct.
Nov.
24
11 i Holden of reo. Sept. 30
Oct.
: Holden of reo. Oct. 25a
Nov.
Oct.
31 Holden of rec. Oot.lSa
3 l Holden of rec. Oct.15a
Oct.
Oct.
1 S Holden of reo. Oct.
3
1 5 Holden of rec. Oct.
Oct.
3
L
Oct.
;
I.
Oct.
115 Oct.
1
to
Oct. 16
2 ) Holden of rec. Oct. 10
Oct.
1 I Sept. 21
Oct.
to
Oct. 12
1 ) Sept. 24
Oct.
to
Oct. 10
1 ) Sept. 24
Oct.
to
Oot. 10
1
Oct
) Sept. 24
to
Oot. 10
1
5
to
Oct.
Oct.
6
Oct. 16
1 5 Oct.
oct.
6
to
Oct. 16
1 Holden of rec. Oct.30a
Nov
•
a Transfer books not dosed.
5 Declared 6% payable 2X% Oct 15 1910 and
2X% April 15 1911. e On aocount of accumulated dividends, declared 9>X%
payable 3X% Oct. 15, 3X% Jan. 15 1911 and 1X% April 16 1911.
Y. County.
_
<
(
](
to
.
i
C
5
<
7a
7a
7a
7a
-
2
\
\
Oct.
Oct.
Oct.
Oct.
rec.
Oct. 16
to
Oct. 25
Holden of reo. Oct. 31a
Holden of rec. Oct.29a
Holden of reo. Sept. 3a
Holden of rec. 8ept. 30a
Holden of rec. Sept. 30a
Holden of rec. Oct. 10
Oct.
Oct. 16
6
to
Holden of rec. Oct. 15
Holden of rec. Oct.
5
Holden of rec. 8ept.24a
Dec.
Nov. 12
to
1
Dec.
Nov. 12
to
1
Oct. 14
Nov. 1
to
Oct.
6
Oct.
26
to
Holden of rec. Nov. 5a
Oct. 21
to
Nov. 1
Oct.
1
to
Oct. 17
Holden of rec. Oct. 15a
Holden of rec. Oct. la
Oct. 10
to
Oct. 15
Holden ofrec. Sept. 30a
Oct. 16
Nov.
1
to
Holden of rec. Sep. 28a
Oct.
6
to
Oct. 16
Holden of rec. Oct.
3
Holden of rec. Oct. 6a
Holden of rec. Oct.
1
Holden of rec. Oct. la
to
Oct. 1
Oct. 17
Oct. 1
Oct. 17
to
Holden of reo. Sept. 30
Holden of rec. Sept. 30
Holden of rec. Sept. 30
Holden of rec. Sept. 30
Holden of rec. Sept. 30
Holden of rec. Sept. 30
to
Oct.
1
Oct. 15
1
Holden of rec. Oct.
15
15
15
28
15
15
20
20
15
A Metals
{
3
Sept. 29
Sept. 29
1
j
j
Holders of rec. Sep.30a
Holders of rec. Oct. la
Holders of rec. Oct. la
Sept. 25
20
1
15
16
15
Y_.
2
rec.
(00) fn all
cates.
Loans.
Specie.
Average.
Average.
Surplus.
Legals.
Average.
Deposits.
Average.
Re¬
s’ve.
-
Oct.
to
of the totals, the actual figures
case
the end of the week are also given.
For definitions and rules under which the various items are
ade up, see “Chronicle,” V. 85, p. 836.
31
16
>
....
‘
»
Oity Clearing-House Banks.—The
^tailed statement below shows the condition of the New
ork Clearing-House banks for the week
ending Oct. 1.
he figures for the separate banks are the averages of the
S
12 X
Pennsylvania Salt (No. 95)
Pittsburgh Coal, pref. (quar.)
Pope Manufacturing, pref. (quar.).
Procter A Gamble, pref. (quar.)
Quaker Oats, common (quar.)
Common (extra)
*
Books Closed.
Days Inclusive.
Oct.
Oct.
Oct.
Nov.
Nov.
Oct.
Nov.
Oct.
Oct.
Nov.
Pay-as-You-Enter Car Corp., pref. (qu.)
Pennsylvania Lighting, pref. (quar.)
Extra
United Dry Goods, com. (quar.)
United Electric Securities, preferred
United Fruit (quar.) (No. 45)
Extra dividend
United Gas Improvement (quar.)
United Cigar Mfrs., common (quar.)
U. S. Rubber, 1st pref. (quar.)
Second preferred (quar.)
U. S. Smelt,Refg., A Milling, com. (qu.
Preferred (quar.)...
Van Dyck Estate, pref. (quar.)
When
Payable.
933
\
<
\
^
^
\
{
}
<
A Iron
%
S
2,000,0
3.520.3
2,050,0
4.184.5
2,000,0
1.789.6
6,000,0
7,988,0
1,500,0
5.874.2
1,000,0
724.9
25,000,0 31,519,7
3,000,0
6.494.7
600,0
582,0
1,000,0
2.533.2
300,0
158,0
500,0
832.9
6,000,0
4.439.8
25,000,0 16,497,4
3,000,0
2.726.2
500,0
913.1
450,0
1,059,7
200,0
470.3
3,000,0 11.910.1
2,550,0
1.746.7
500,0
538.2
1,000,0
1.720.7
2,000,0
1.478.9
3,000,0
5.254.1
1,500,0
7.545.9
5,000,0 12.524.1
250,0
108.5
5,000,0
5.624.9
1,000,0
2,080,9
10,000,0 20,589,9
2,000,0
1,655,0
250,0
815.9
500,0
1.657.4
750,0
689.5
5,000,0
7.706.8
100,0
2.109.4
200,0
895.2
200,0
1,016,6
1,000,0
1.542.5
1,000,0
1,197,7
250,0
499.9
1,000,0
2,078,2
200,0
1,019*2
1,000,0
1.960.2
1,000,0
2.771.2
1,000,0
757.1
1,000,0
782.2
1,000,0
320.4
1,000,0
392,1
S
20,001,0
33,400,0
19,646,0
53.554.3
25.178.8
6,888,0
182,396,9
28,700,0
6.845.4
8.663.3
2,822,6
7,613,8
35,231,6
151,803,8
14.801.5
3.628.3
7.929.5
2,060,1
69.636.5
21,061,9;
7.183.5
8.642.2
12.389.3
44,788,0
25,672,0
81,484,0
1.527.3
28,971,0
12,348,0
107,836,3
22.803.3
3,430,0
7.687,2!
4.102.5
78,150,0
12.484.8
3.960.7
4.584.3
15,081,2
8.200.7
3,387,0
10.841.6
4,291,0
19,882,0
18,936,2
8,094,2
14,769,0
5.963.8
6,062,0
%
3,573,0
9,389,0
3,877,0
11,855,4
5.134.8
1,348,0
40,767,1
4.641.8
1.746.5
1.261.5
884,0
1,715,0
1,162,0
1,104,0
1,858,0
326,0
6,040,0
1.961.5
128,2
517.2
72,3
182,0
2,108,1
6.995.8
1,109,1
500.7
1.149.9
132.4
7.124.3
307.4
1,098,3
964.5
226.6
4,931,0
2,332,0
1,215,0
85,6
2,300,0
197,0
2.236.3
1.145.6
59,0
622.9
206,1
4,715,5
1.168.9
468,5
510.9
1,318,0
243.3
330.9
1.497.4
225,0
1,652,0
839.4
241.7
319,0
527,0
760,0
471.9
1.835.5
6,478,4
28,062,8
1.692.1
266,8
990,3
390.1
14.310.3
4.762.7
612.9
1.373.7
2.977.9
7,779,0
3,729,0
20,038,0
>
225,4
4,947,0
2,798,0
22,408,8
5.414.9
851,0
1,246,0
837.1
15.368.3
2,356,3
470,0
853,7
3.456.2
1.844.1
568,5
1.128.3
945,0
4,310,0
3.666.9
2.146.2
4,468,0
1.110.4
822,0
$
%
17,655,0 25.2
28.0
39,500,0
19,864,0 25.3
61,747,8 25.0
25.818.7 27.0
5,919.0 29.0
174,280,7 26.8
26,236,0 25.3
7,068.3 26.5
6.854.5 25.9
2,315,7 23.4
8.308.5 24.2
34.124.8 25.2
132,279,3 26.5
11,056,9 25.3
2.940.1 26.0
8.286.6 25.8
2.154.6 24.2
79,922,7 26.8
19,945,6 25.6
7.811.3 21.9
8.586.9 27.2
12.812.4 25.0
52,008,0 24.4
23,237,0 26.0
84,566,0 25.1
1.390.2 22.3
28,047,0 25.8
11,848,0 25.2
97.763.4 25.2
24.323.3126.9
3,604,0 25.2
7.618.4 25.0
3.938.6 26.4
83,659,2 24.0
13.934.4 25.3
3.887.9 24.0
5.248.7 25.9
16.812.9 28.3
8.173.8 25.6
3,514,6 25 5
10,452,0 25.1
4,736,0 24.7
22,887,0 26.0
19,121,1 23.5
9,502,0 25.1
18,310,0 26.1
6,333,1 25.8
6,168,0 25.6
*
Totals,
<
Average 132,350,0 193,297,9 1285,416,4 261,607,6 67,815,3 1276,574,0 25.8
-
Actual figures
Oct. 1...
1278,150,2 254,155,6 66,546,8 1262,884,2 25.4
On the basis of averages, circulation amounted to
$47,189,600 and United States
,
<
The State
Banking Department also
large.
These returns
cover
furnishes weekly
companies under its
now
turns of the State banks and trust
all the institutions of this class
For definitions and rules under which the various items
are
STATE BANKS AND TRUST COMPANIES.
Week ended Oct. 1.
State Banks
Trust Cos.
State Banks
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y,
Change from last week.
25,175,000
65,406,000
*9.023.000
t
9,775,00$
38,315,700
172.375,500
*10,796,145
10,098,116
299,512,800 1,012,306.900
+2,979,700 +7,319,200
94,745,400
+201,400
137,875,30$
+ 185.700
99,980,800
+79,800
143,625.500
Specie
Change from last week.
49,971,600
+333,800
114,219,800
+257,900
Legal-tenders A bk. notes
Change from last week.
24.517.300
12.843.100
+ 149,600
Deposits
Change from last week.
Reserve
—100,900
346,963,300 1,086,473,800
+3,303,300
—934,500
deposits...
Change from last week.
on
P. C. reserve to deposits.
Percentage last week..
+ Increase over last week.
—141,00$
96.443.300
+510,200
133,728,300
—65,300
20,629,700
+236,600
19,727,30$
28.4%
28.6%
16.1%
16.3%
21.3%
21.2%
14.3%
14.6%
—
Decrease from last week.
—288,50$
*Aa of June 30.
Note.—’’Surplus” includes all undivided profits. “Reserve on deposit^’ In
eludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents.
Trust companies in New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according to
location as shown below. The percentage of reserve required Is computed on
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York.
The State banks are likewise required to keep a reserve varying
according to location, the reserve being computed on the whole amount of deposits
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by bon&i
of the State of New York.
—Trust Cos.—
Reserve Required for Trust Companies
and State Banks,
«
Location—
Manhattan Borough
Total
Reserve
Of
which
Requin ‘
15%
Brooklyn Borough (without branches in Manhat.)15%
Qther boroughs (without branches In Manhattan) 15%
Brooklyn Borough, with branches In Manhattan.. 15%
Otheir Boroughs with branches In Manhattan.... 15%
Elsewhere In State
10%
15%
10%
10%
15%
16%
6%
—State Banks—
Total
Reserve
in Cash
which
25%
20%
15%
■1.16<
10*
20%
cf*
20*
15%
15%
16*
0*
THE CHRONICLE
[Yol.
We omit two ciphers (00) in all these
The
Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trtist companies in the Greater New York not in the Clearing
fguse. These figures are shown in the table below, as are
Iso the results (both actual and average) for the Clearingtbuse 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.
Week ended Oct. 1.
f
AclualFigurts
r
1
$
132,350,000
132,350,000
74,631,000
206,981,000
Surplus as of Aug. 31..
193,297,900
193,297,900
180,661,300
373,959,200
Loans and investments 1,278,150,200
1,285,416,400
1
i*.
•
*
f
as of Aug.
—7,382,000
+3,736,400
Boston.
261,607,600
—10,483,400
120,663,600
+216,400
382,271,200
—10,267,000
66,546,800
—1,070,400
67,815,300
+83,300
621,410,900
+231,500
89,226,200
+314.800
holdings 320,702,400
Change from last week —18,299,600
329,422,900
—10,400,100
cl42.074.500
471,497,400
—9,952,200
254,155,600
Legal-tenders
Change from last week
Aggr’te
money
+447,900
Deposits,
Legals.
Circu¬
lation.
a
55,465.0
55,465.0
55,465.0
22,518,0
23.541.0
22,870,0
254,346,0
254,866,0
254,583,0
255,799,0
55.465.0
$
%
$
20,882,0
74.557,0
75,595,0
*
$
74,903.0
72,795,0
$
7,947,0
7,968,0
7,947,0
T,991,0
106,015.1
143,101,0
299.806.0 16.484,0
306,861,0 16,493.0
305,459.0 16,447,0
106,392,1
131,166.7
305,050,0,16,439,0
135,503,9
240,607,0
246,921,0
247,117,0
250,395,0
4,509,0
4,728 0
4,967,0
5,696,0
Clearings
142.593.5
139,329,0
136,223,7
Imports and Exports for the Week.—The following
1,103,036,900 2,388,453.300
+9,305,100 , +13,041,500
Change from last week —17,229,200
$
206,059,0
204,708,0
204,394,0
206,192,0
40,200,0
40,200.0
40,200.0
40,200,0
_
are
also
FOREIGN IMPORTS AT NEW YORK.
For Week.
Change from last week —22,818,900
Specie
$
Sept.10,
Sept.17..
Sept .24..
1,262,884,200 1,276,574,000 ol,053,503,900 2,330,077,900
+ 698,700
—7,419,900
+8,118,600
Deposits
Specie.
the imports at New York for the week ending Oct. 1;
to this since the beginning of the first week in January:
/
Change from last week
Loans.
a Including Government deposits and the item “due to other banks."
At Boston
Government deposits amounted to $3,051,000 on October 1, against $3,048,000
on September 24.
;
%
S
$
31..
Capital
and
Surplus.
Sept.10..
Sept.l7_.
Sept .24..
Oct.
1„
Clear .-House State Banks A ! Total of all
Banks.
Trust Cos. not BanksA Trust
in C.-H. Aver. Cos. Average.
Average
Clear.-House
Banks.
figures.
Capital
tiqpkf.
Oct.
1__
PMla.
NEW YORK CITY BANKS AND TRUST COMPANIES.
lxxxxi.
1910.
1
Dry goods
$2,888,262!
$2, ,99,672
11,178,575
General merchandise
Total
Since January 1.
Dry goods
General merchandise.*
1908.
1909.
$13,978,247
13,929,156
$2,732,835
11,418,872
$3,423,608
10,794,323
$16,817,418
$14,151,707
$14,217,931
$118,801,790 $127,425,507
572,392.911 517,271,870
Total 39 weeks
1907.
$91,385,915 $143,228,340
376,159,991 516,327,534
$691,194,701 $644,697,377 $467,545,906 $659,555,874
i
,
Money on deposit with
Other bks. A trust cos.
Change from last week
Total
reserve.
320,702,400
Change from last week —18,299,600
Percentage to deposits
requiring reserve
Percentage last week..
Surplus
329,422,900
—10,400,100
25:42%
26.39%
26,312,900
—-385,300
168,387,400
+ 62,600
497.810,300
—10,337,500
25.82%
26.49%
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. 1 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
17.9%
18.7%
1910.
10,279,400
Previously reported
$11,887,437
443,087,043
1907.
1908.
$11,535,074
469,040,394
$16,347,355
463,926,284
$494,891,260 $454,974,480 $480,575,468 $480,273,639
Total 39 weeks
+ Increase over last week. — Decrease from last week.
These are the deposits after eliminating the item “Due from reserve depositories
and other banks and trust companies in New York City"; with this item included,
deposits amounted to $1,201,235,500, an Increase of $1,075,800 over last week. In
the case of the Clearing-House banks the deposits are “net” both for the average
and the actual figures,
b Includes bank notes, c Of this amount State banks held
915.011,600 and trust companies $127,062,900.
|
1909.
$13,325,169
481,566,091
For the week
4,981,350
reserve
26,312,900
—385,300
.
'
'
a
The following table shows the exports and imports of
specie at the port of New York for the week ending Oct. 1
and since Jan. 1 1910, and for the corresponding periods in
1909 and 1908:
The averages of the New York Clearing-House banks
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
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:
Week.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
Loans and
Investments
Specie.
Legals.
Holdings
on
-
$4,900
3,288 .832
125,600
9,368 ,766
41 ,900
All other countries
July
Aug.
Aug.
Atlg.
Aug.
Sept.
Sept.
Sept.
Sept.
Oct.
2,305,891.4
2.319.167.3
2.331.975.4
2.299.609.1
2.299.315.5
2.316.350,0
2.339.911.8 2,326,315,7
2.346.781.2 2.331.878.3
2.348.900.4 2.326.474.5
2.355.593.2 2.320.771.3
2.367.842.8 2.328.750.6
2.375.411.8 2.329.379.2
2.388.453.3 2,330,077,9
30..
6_.
13..
20..
27..
3..
10..
17..
24..
1-.
%
399,777,7
405.702.3
416.194.1
421.847.4
421,021,3
412.681.1
401.048,5
397,232,0
392.538.2
382.271.2
$
94.652.2
93,995,0
92.656.7
90.699.2
$
494,429,9
499.697.3
508.850.8
512,546,6
512.484.5
502.336.1
489.173.2
485.829.9
481.449.6
471.497.4
91.463.2
89,655,0
88.124.7
88,597,9
88,911,4
89.226.2
518,815,9
525,172,3
535.467.8
Since Jan. 1
$18,473
$13,469,736
3,457.050
2,18Q
1,241
13,147
34,937
404,204
233,949
1,792.176
975,764
314
4 .455
Mexico
South America
Deposit.
Week.
$32,150,000
France
Germany
West Indies
Tot. Money Entire Res.
Deposits.
Since Jan. 1
*
Great Britain
We omit two ciphers in all these figures.
Week
Ended.
Imports.
Exports.
Odd.
$130,500 $44,853 .953
200,260 76.894 .692
47,647 ,925
Total 1910
Total 1909
Total 1908
$69,978 $20,333,193
6.971,810
109.725
144.850 14,261,919
539.637.8
537.996.1
528.336.2
516.456.2
Silver.
$468,569 $30,312,168
1,744,800
26,900
477,955
67,798
Great Britain
France
Germany
West Indies
Mexico
513.289.9
508,147.8
497.810.3
41,505
6,305
42,700
$13,344
1,555
12,374
68,342
1,318,179
1,083,272
1,077,684
$495,669 $32,650,531
895,005 34,948.193
806,139 32,156,824
$53,317
43,999
95.163
$3,574,750
3,789,646
2303,473
137
10,389
South America
All other countries...
Reports of Clearing Non-Member Banks.—The following is
the statement of condition of the clearing non-member
banks for the week ending Oct. 1, based on average
daily results:
$91
200
Total 1910Total 1909Total 1908.
We omit two ciphers (00) in all these figures.
.
Banks.
Loans,
Legal
Distfts
Tender
Capi¬
Sur¬
and
tal.
plus.
Invest¬
Specie.
ments.
Of the above imports for the week in 1910, $2,170 were
Deposit with
American
and
Clear¬
Other
Bank
Notes.
ing
Agent.
Banks. Deposits.
gold coin and $15 American silver coin. Of
the'exports during the same time, $130,500 were Ameri¬
can gold coin and $200 were American silver coin.
Net
AC.
N. Y. City
Boroughs of
Man.ABrx
Wash. Hgts
Century
...
Colonial
Columbia..
...
Fidelity
...
Jefferson
Mt. Morris.
Mutual
Plaea
23d Ward..
Un.Ex.Nat.
Yorkvllle
New Neth’d
Batt.Pk.Nat
Aetna Nat.
Borough of
_.
$
100,0
250,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
1,000,0
100,0
200,0
200,0
300,0
$
270,6
160,2
362,5
751,7
175,5
521,3
313,8
371,3
453,8
106,5
952,4
451,8
265,*
166,8
317.7
S
1,285,6
1,332,5
5,115,8
6,132,0
959,9
3,132,2
2,545,3
3,555,5
3,934<0
1,884,6
8,362,7
4,227,6
2,195,0
1,401,4
2,164,3
>: ~t
$
$
136,2
49,4
29,2
185,8
747,7
519,9
562,0
523,0
75,8
75,3
199,5
262,3
482,0
28,5
39,5
558,1
320,0
405,0
147,9
48,4
973,4 1,000,0
49,5
746,6
87,0
262,0
184,9
36,9
466,0
39,2
$
$
169,0
68,2
723,6
868,0
134,9
105,1
458,5
352,8
739,0
239,9
262,6
256,3
272,0
58,9
64,3
i
16,5
163,6
830,5
62,0
330,1
86,7
5,3
259,5
5,0
20,9
Dauhttig mid ffitiattcial.
$
1,289,6
1,289,2
7,276,3
7,040.0
970,2
3,341,3
3,377,5
3,989,1
4,827,0
2,121,9
7,992,0
5,354.5
2,293,0
1,199,1
2,085,4
INVESTMENT
investment bonds yielding about 4)4
200,0
252,0
1,000,0
Nassau Nat.
750,0
Nat. City..
300,0
North Side.
200,0
First Nat..
300,0
Jersey City.
First Nat..
400,0
Hud.Co.Nat
250,0
Third Nat.
200,0
Mfrs.’
.
Nat.
Mechanics’
Hoboken.
First Nat..
Second Nat.
Tot. Oct.
220,0
125,0
513,3 3,233.9
831,9 5,501,8
815,4 12,882,0
1,010,4 6,829,0
601,8 3,995,0
139,0 2,090,1
611,0 3,360,0
to 5H%.
Spencer Trask & Co*
43 EXCHANGE PLACE, NEW YORK
Branch offices: Chicago, *111., Boston. Mass.. Albany, N. Y.
-
Brooklyn.
Broadway
SECURITIES
Our eight-page circular No.687 describes several Issues of sound
34,0
465,0
329,3
348,3
353,4 1,413,6
606,0
302,0
97.0
545,0
126,7
102,5
338,0
72,0
440,8
1,045,6
1,559,2
1,549,0
511,0
322,2
541,0
283,6 3,863,6
183,8 6,236,7
891,6 17,008,4
7,384,0
160.0 4,971,0
113,8 2,497,7
38,0 3,202,0
1,251,8
751,9
394,5
5,233,3
3,089,9
2,040,4
297,3
153,5
63,5
375,9
56,4
133,6
2,221,1
301,9
684,8
144,0
113,9
33,9
6,433,9
2,764,2
2,490,0
623.3
245,9
3,126,3
2,748.1
133,6
86,9
37,1
83,2
175,0
48,9
140,2
164,6
2,877,5
2,956,2
1
8,497,0 13.421,6 102358,2 7,313,8 8,481.0 14,173,6 4,047,4 117131,3
Tot.Sept .24 8,497,0 13,421,6 100425,8 7,386,5 8,427,8' 14,616.4 3,637,0 115554,0
Tot.Sept. 17 8,497,0 13,421,6 100141,7 7,478,9 8,259,9 15,193,0 3,761,1 116153,2
WHITE, WELD &
CO.
Members New York Stock Exchange
6 NASSAU STREET,
THE ROOKERY.
NEW YORK
CHICAGO
;
BANKING and
EXCHANGE of every description lit connection with
EXPORTS & IMPORTS
1
■
—*■»
International Banking Corporatiop
60 Wall St*. New York.
CAPITAL & SURPLUS, $6,600,000
BRANCHES and AGENCIES throughout the WORLD.
f
THE INTERNATIONAL BANK
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
Organized under the Laws of N.
Accounts invited.
Y. State.
60 Wall St.. New York
Interest paid on Term Deposits.
THOMAS H. HUBBARD
Pre ide
Oct. 8
THE CHRONICLE
1910.]
925
ABSTRACT FROM REPORTS OF THE NATIONAL BANKS MADE TO THE COMPTROLLER SEPT. 1 1910.
No.
o'
Banks.
Srpl. 1 1910.
Maine
New Hampshire
-——
Vermont
Massacn aselts
Boston
Rhode Island
Connecticut
...
...
-
___.
New England States
_
Brooklyn
New Jersey
Pennsylvania
Philadelphia
Pittsburgh
Delaware
*
Maryland
Baltimore
District of Columbia
Washington
Eastern State®.
17.092,639
121,883,622
474
99,799,062
57,606,145
46,015, 100 28, 877,061
119,900, 000 125, 055,000
2,100, ,000
2, 200,000
1,802, ,000
2, 250,000
21.554, ,600 20, 543,437
65,985, ,762 64, 261,223
22.405, 000 35, 515,000
26,700, ,000 27, 080,000
2,373, ,985
2, 018,418
5,261, 050
3, 443,551
13,290, 710
7, 905,010
252, 000
252.000
5,800, 000
198,646
Chicago
Michigan
10,339,380
3,351,072
10.934,385
10.218,212
294,699,754
988.036
2,711,683
178,368
363,143
645.764
647,011
612,158
70S,000
50,786
105.764
628,622
83,500
2,756,793
245.902,595
873,880,860
19,949,456
15.576,255
131,085,564
318,729,002
208,606,757
137,252,049
9,949,593
25,425,435
59,824,139
942,027
1,211,415
1,085.605
59,775
116,099
698.705
1,916,468
710.341
839.802
79,933
128,114
179,333
3,390
91,2/3
3,959,294
38,616,402
72,700
904,645
2,779,939
3,876,785
6,103,807
3,253,362
243,371
400,759
2.092,272
20,630
518,899
6,919,906
48,425,264
1,563,517
21,889,706
5,571,106
5,085.230
66,435,753 147,089,540
516,823
1,329,000
204,043
795,400
1,971,808
2,614,570
9,340,101
6,615,630
9,746,118 13,378,370
5,960,927
7,134,950
157,897
126,240
472,117
560,450
406,170
1,705,700
18,135
39,600
79,990
1,692,850
333,440,107 324,199,346 1,973,882,161 10.479,628 2.069,013,438
90,880,988 188,167,530
7,120.153
62.842,865
77,884,283
406,762
232,665
214,943
332,360
691,453
74,078
422,923
555,842
199,223
256,916
52.681
1,560.202
218,861
131,708
170,908
223,539
141,603
155,038
230,384
264,346
104,578
441,600
766.134
470,091
200,966
114,701
460,097
33,381
287,476
411,359
119.249
148,826
679,984
760,471
182,006
90,870
64,846
298,230
182,559
31,760
1,821,403
8,759,113
664,412,284
13,187,197
12.819,810
645,553
1,250,141
238,164
93,940
1,170,157
1,148,012
3.187,390
1,097.006
492,244
452,413
221,747
665,032
192,718
208,884
795.721
367,905
31.000
204,929
43,346
17.000
561,314
111,797
567,404
167,758,420
61.862.210
56,419,544
17,419,183
93,817,616
27,274,518
3,181,220
78,155,542
48,158,593
28,381.361
101,333,542
6,558,374
10.466,004
2,476,818
25,367,403
60.137,706
10,185.913
114.454.494
4,648,980
1,067,973
2,291,737
784.151
3,002,885
1,000,247
4,410,677
4,728,086
2,353,834
2,022.513
2.044,300
1,062,132
2,939,194
2,794,290
2,127,071
2,486,726
87,558
260,218
143,355
823,694
1,776,815
560,965
3,910,178
2>029 272,524,165 129,489.698 1,414.967,804 13.758.817 1,542.126,248
47,327,579
622,136
807,405
1,543.789
298.690
1.642,742
343,920
1.626.036
146.190
128,510
36,207
1.532.752
444,696
1.750,991
3,895,936
307,322
420.650
673,819
69,533
298.467
607,770
623,700
827.330
111,410
971,760
100,340
986,060
786.500
182,000
603,000
619,210
243,050
894.330
1,796.900
469,220
266,920
587.850
168,230
331,620
276,435
229,298
48,818
303,56“
58.86
525,363
30,777
18,440
35,195
188,087
94,786
258,580
162,729
32,308
88,117
473,965
59,220
97,948
*
254
8
421
11
97
4
123
6
258
6
6
316
3
4
3
105
10
4
10
...
~
...I"”’
■
'
’
Minneapolis
St. Paul
Iowa
Cedar Rapids
Des Moines
Dubuque
Missouri
Kansas City
St. Joseph
St. Louis..
.
IIIIIIIIII
Middle Western States
Wichita
Montana
Colorado
Denver
Pueblo
New Mexico
Oklahoma
Muskogee
Oklahoma City
Western States...
3.
.11313
1
...
3311
1910)
Pacific States
Hawaii (Jun<e 30
Porto Rico.
1910)
.
Island Possessions
;
75,961,830
35.935.765
376,886,790
5.962.110
356.205,278
42,129,778
4
1
610,000
100,000
183,367
17,500
1,305.606
304,906
658,728
1,216,008
69,155
710,000
200,867
1,610.512
658,728
1,285,163
_5
7!l73
United States
7,970,461
1,171,410
414,070
1,739.590
1,337,920
1,188,790
1,799,100
652.950
1,963,720
397,320
677,600
70,000
334,970
1,545,480
340,520
436
253,045
149.838
287,568
506,828
520,145
257,299
11,173,540
23,202,130
49.286
187.838
247.578
168
3
3,911,000
38,866,552
265,727
67,104,340
3,395,000
1,012,990
2.232,070
1,869,800
3,715.250
9
10
47
16
5
12
13
2
4
12,461.564
40,784.397
298,585
165,050
261,187
128,026
~3,754,259
3,728,900
3,250,000
16,203,830
5.350,000
27.250,000
2,670,000
1,030.000
1,750,000
1,792,000
980,000
100,000
2
71
11,506,004
30,159,540
26,826.586
3,875,683
10,992,853
30,145,792
3,141,419
5,101,235
4,335,446
31,563,718
691,426
12,302,397
247,140
223,100
381,630
39,460
156,560
21,240
Tacoma
5,872,437
11,831,071
29,638,395
3,225,893
5.953,159
51,987
957.734
2.000
484,840
1.000
138,768
3.000
717.004
274,462
158,772
1.182,779
80,213
289,476
345,104
142,894
251.791
356,990
56,955
1.284,070
1,454,210
558,154
336,788
1,563.035
5,096,850
1,984.440
1,057,500
2,084,762
4,745.790
5,759.359
5,875,290
10.996.528
834,338
399,520
937,303
394,505
314,158
86.400
4,075,000
3,700,000
3,400,000
500.000
5
29,290,828
25,503,412
50.451,779
5,826,846
27,579,147
6,483,188
60,869,164
7,838,974
1,871,685
3,810,031
25,533,099
581,265
1,053,817
4,000
594,136
434,586
192,752
139,194
95,435
1,928,845
305,850
6,421,172
21,831,226
26,884,703
15,892.307
5,581,364
19,091,750
17.556.813
71,622,914
34,838,994
104,610.297
14,606,638
5,813,065
7,766,887
4,729.380
4,945,309
433.631
67
5
67,502
722,054
374*716
1,046,196
109,862
210,519
122,964
811,369
198,205
1,112,854
605,063
422,391
185,611
469,432
97,210
546,280
156,049
175,808
626,414
29,350
59,597
24,421
246,070
365,884
93,258
255.654
306.574
1,709,386
150,325
225.010
99,902
1,203,305
295,305
279,710
515,450
JJL65
311,582
574,89x
11,560
317.918
7,082,613
27.250.377
31,621,556
17,313,650
6,771,691
26,528,298
20,152,491
85,182,636
34,872,383
82,478.734
16,700,485
6.100,250,
8.866,461
5,727,237
6.225.950
1,094,591
1,685.000
29.005,688
28,416,482
51.796.945
4,031,915
25.348,187
6,486,561
56,680.036
4.303,162
2,527.964
728,421
568,785
1,197,179
1.904,289
1,270,000
775,000
750,000
1,679,512
1.392,500
6,485,094
2,437,000
15,630.000
1,276,210
367.927
850.000
456,233
627,000
35,000
.
Washington
Seattle
Spokane
Portland
California
Los Angeles
San Francisco
Idaho
Utah
Salt Lake City
Nevada
Arizona
Alaska (June 30
61,637.296
37,518,624
773,706
3,660.148
7,227,566
3,380,556
5,102,187
204,760
467,114
11,177,200
3,965,000
9,995,000
1,000,000
3,600,000
850,000
10,512,500
1,000,000
300,000
400,000
4,656,100
65,759,350
Oregon
66,491,282
32,193,005
1,883,160
384,930
140,000
127,890
1,148,120
446,880
122,350
274,270
893,490
1,413,240
1,156,700
16,588,691
4
6
3III3I3
;
156,406,969
288,656.931
•
356,807,265
2
3
54
29
113
6
3
41
215
1.33
27,240,747
32.914,002
11,481,739
14,773,549
22,091,985
114,526,698
15.197.178
10,091,562
3,108,743
21,241,327
7,788,665
5,062,477
16,323,400
41,991,924
22,840,106
57.158.179
6.025.799
3
""
41,475,955
34,671,482
22,524,843
56,376,389
2,823,970
929.690
723.680
239,580
101,060
355,500
24,000
390,480
603,250
325,760
266,910
868,870
392,929,572
200
3.
Wyoming
1,410,440
1,112,043
444,900
191,426
491.937
21,960
372,107
677,133
134,406
214,538
715,551
2,245,049
638,423
260,182
119,600
516,228
360,572
127,388
23S.090
916,781
770,373
1,178,070
27,189,210
4
I
82,707,274
6,425.000
3,100,000
500,000
2,070,000
8,620,000
700,000
1,100,000
7
"I
IIIIIIII
6,280,750
69,821,168 2,030,457
42,731,152
428.555
23,081,445
522,260
15,492,983
210,713
36,845,290
501,715
894,140
166,522
25,837,663
459.980
28,129,574
307,872
10,535,368
58,786
12,737,138
7,000
17.401,700
245,416
90,635,200
495,770
13,781,308
179,898
7,557.732
2,000
2,787,208
60,170
18,534,222
51,960
8,266,137
300.556
3,687,782
40.052
12,526,032
90,684
35,984.897
739.703
16,646,936 1.102,083
49,948.428
758,961
1,504,035
1.034,731
3.683.285
330.000
2,052,500
420,000
4,089.740
750.000
140,000
495,000
2,395,758
981.300
2,747,568
2,595,000
415,000
805.500
2,384,293
190,000
175.500
99
223
Kansas
City
9,957,600
5,150,000
10,710,000
5,750.000
11.786.000
6.900,000
4,100,000
17,991,015
400,000
2,000,000
600,000
6,505,000
6,600,000
1,100,000
21.100,000
“149
North Dakota
South Dakota
Nebraska
Lincoln
Omaha
I
South OmahalllHIII
116,600,201
10,510,671
33,898,865
43,293,083
929,635
22.126,450
183,804,172
43,687,376
38.161,655
18,559,779
107,967,033
23,146,474
182,418,474
191,663,540
78,483,790
28.916,061
81,453,604
37.026,086
89,383,860
37,634,468
26,105.387
97,468.567
2,357.798
5,481.196
2,154,516
27.115^542
33,904.851
6,718.367
71.355,208
IIIIIIIIII
Detroit
698,058,513
14,069,260
18,126,170
162.996,707
389,278,810
169,294,042
543,863,503
......
Wisconsin
Milwaukee
Minnesota
Topeka
12.546.908
15,871,793
7.250.000
4,050,000
1,127,500
8,218,128
2,377,000
15,720.133
22,188,000
4,920.775
1,850,000
3,941.906
2,660,000
5.323.916
5,594,361
3,120,000
6.754.492
300,000
465,000
130,000
2.413.695
2.608,000
550,000
12.055.000
9
Indianapolis
Kansas
477.310.962
140
8
102
Louisville
Tennessee
Illinois
463,183
412.882
315,380
2,989,270
3,978,716
687,929
1.370,852
73,647,339
Arkansas...
Kentucky
...I
”1
371,874
1,720,755
363,296
322,524
154,632
1,840,286
7,000,367
395,539
857.741
4,516,306
6
45
’
8
129,640
133,794
106,250
691,648
1,885,786
102,239
301,715
34,939,100
13,900,000
9,350,000
3,750,000
21,255,450
6.800.000
30,480,000
41,400,000
"
Houston
San Antonio
Wacc
States.
126.926,544
187.564,907
607,080
226,790
118,470
1,346,700
6,878,880
420,950
740,510
154,540,609
-----
I
...
Southern
1,185,042
494,723
421,113
2,398,657
5,954,744
Tender
Motes.
441,518.026
43
79
32
20
5
487
4
7
3
6
6
.....I
Ohio
Cincinnati
Cleveland
Columbus
Indiana
$
33.830,733
17,730,185
16.967.496
DjQO.1
Treasurt
Certificates.
30,416.542
63.874.555
2
Florida..;..
Galveston
281.770
123,21 r
281.18
3.040.942
210,662
356
8
7
Savannah
Louisiana
New Orleans
Texas
Dallas
Fort Worth
160.539.339
27.739,081
58,486,682
25^.322
Silver
Silver.
J^454
...I
Mississippi
18,469,654
Gold
Treasury
CT*tficates,
Certificates
10,201,261
4,830.805
2,407,775
1,589,830
6.570,737
500,000
2.219,980
4,014,950
1.414,940
1,992,366
2,965,000
15,022,265
1,800,000
1.850,000
225.000
1,375,000
910,000
486,750
1,634,700
4,273,615
2,655,000
4,707,365
.
...
2,704.620
Gold and
Gold C.'q-H
15.557,030
9,081,825
7,935,000
4,985,000
12,503,580
750,000
5,750,800
8,730,000
3,481,250
2,870,000
5,200,000
31.746.000
2,650.000
2,175,000
625,000
3.600,000
2,100.000
1,180,000
4,155,000
12,052,400
5,495,000
11,917.724
Georgia
Alabama
3.341,350
Other.
324.205
125
103
75
39
111
...
West, Virginia
North Carolina
South Carolina
37,$07,009
1,800,455
16.833.295
18.050.000
3,868,625
11,007.800
JU310
Virg.nla
Individual.
8,170.822
5,460,000
5,186,290
31,417,500
22,950,000
6,700,250
19,914,200
39
3
5
194
762
33
24
28
89
19
1
11
Albany
Surplus.
72
58
51
172
20
22
79
*402
New Y :>rk
New York City
Loans
and
Discounts.
Deposits.
Capital.
2.445,749
2,217,367
662,535
l.odo.r
2,219,752
504,773
1,252,264
3,362,325
34,310,944
1,833,224
2,048,561
1,046,562
1,664,186
863,193
1,417,108
1,409,183
19,127.715
641,811
192,725
481,578
1,033,766
528,507
82,115
601,250
542,982
233,415
866.036
1,757,427
133,950
391,838
105,903
85,976
30,000
206,841
1,473,944
129,290
6,221,471
630,367
1,261,469
282,980
4.924,058
38.120,734 69,462,047
184,552
186,416
291,012
19,304
806,605
21,209
445,090
19,560
26,157
107,584
124,404
63,432
260,750
347,396
391,054
327,612
628,306
173,761
1,049,035
212,710
924,857
99,260
03,515
120,000
619,441
96,164
681.494
1.468,692
30,976
164,903
462,731
337.258
45,235
83,216
271,362
*
59,088
102,165
78,621
160,365
3,335,892
3,430,855
7.789.040
39,713
50,034
168,961
478,280
198,900
2,728,060
189,890
17,330
401,710
38,360
110,080
43,880
239,078
238,074
135,688
75,326
175,639
117.938
696.424
315,523
439,822
97,314
62,737
151.420
41,053
70.676
7,285
116,027
224,430
62,318
52,400
03,249
185,860
183,081
203.943
54,912
84,549
18,432
135
14.815
5.275.620
2,863,997
808,099
1.410,155
396.795
490
44,563
327
89
25,000
630
1,236
220
2,137
396,884
25,490
45,193
1,563
2,357
1,101
70.861
13,800.
142,466 !
19,730
50,749
58,948
9,451
17,256
4,217.
60,677 r
58,785
30,570
66,784
1002735123 648,268,370 5.145,658.368 50.160,501 5,467,160,638 223,258,023 295.139,370 36.769.480nL22.459,673FL79,058,491
c
S
Totals for
Reserve Cities, etc.
In Millions.
s
Loans, dlsc.,&c. 188
U. S. bonds
12
9
Stocks, bds.,&c.
Real estate, &c.
5
Due from banks
53
Nat. bank notes
2
Gold
13
9
4
Legal tenders.
Other resources
16
ISilver
s
_
1 1
H
1
Jy
1
"<!
|
li 11 1 1
£
-
--
CQ
•a -a •a
Sj
cq
s
$ S
s
*
874 20 10 208 137
66 2 1
18 18
162 6 4 30 29
32 i 1
21
67 18 4 83 33
1
1
203 2 1 23 13
40
1
7
4
48 2 2
3
6
192
1 33
7
•
£
1
j1
s
S S S s $ s S
60 22 3 22 26 25 13 23
9 8 1 4 4 3 3 6
8 5
2
1 3
3 3
2 1 2 1
6 7 8 3 ~0
17 6
...
--
2
2
1
5
2
1
_
-
--
...
1
1
..
--
1
1
1
1
1
2
}1
1
1
1
--
--
1
1
1
1
3
t
|
5
*5
■I
s
j |1 i
si
t $ S
$
S
S S s s
02 50 17 27 289 32 38 48 28
9 7 3 6 19 3 6 4 3
8 4 3 4 27 4 4 3 3
4 1 1 1
2
1 1 1
15 16 5 16 62 "7 11 17 9
1
1
1
5 6 2 3 28 2 2 5 3
1
1 20 1
1
1
2 2 1 1 34 2 2 i 1
4 3 1 1 19 1
4 2
--
.
...
311 1,665 51 31 413 268 107 47
4 39 42 43 23 42 110 96 33 61 601 53 65 83 51
1
ur. & un. prof.
Circulation
Due to banks..
Due depositors.
23
29
8
85
164
2
Other UablUtfes
Totals
r
166
46
618
701
14
2 2 22 27
3 3 41 32
2 1 17 16
30 7 161 73
14 18 170 U7
2
3
--
--
.
13 6
10 5
8 5
28 4
44 25
4
1,665 51 31 413 268 107 47
.
5 6 4 3 6
3 5 2 2 3
1
3 3 3 2 5
1 7 0 11
2 11
1 18 22 22 12 18
3 1 1 2
.
--
--
14
9
0
l*a
9
8
Q
9
8 11
1 2
1
■"3 '3
1
1
1
1
Il5
18
.
Totals
120
!| I
4
1
~7
CO
55
I
3
«a
§
11
-a
~5 ~0 ~7 ~4
--
--
4 39 42 43 23 42 110 96 33 61 501 53 65 83 51
-a •a
K
1 1
§
|
■sj
£
3 San
[l
ral’:'
i!;
S| 4
•
s
s
$
S s $ 9 s 9 $ s 9
9
$
9 4
50 10 115 6 34 8 6 31
8 48 18 135 105 8 2,736 2,761
4 1 20 1 4 1
1 3
2 6 4 6 21 2 i 283
479
3
9
3 1 1 11 1 5 3 4 14 1
369
485
g54
1
1
1
4
1
1
4
i 105
L 237
26 "4 31 '2 15 ■4 ■§ 15 "2 14 *6 8 45 -3 » 652
11,215
1
25
16
41
3 1 15
391
127
3 1 1 6 1 9 5 6 14 1
518
2
49
1
1
1
7
k—
106
165
1
5
1
i 1
54
179
;
125
2 2
3 i 3 i 4
0 i
5 1 4 i
51
317
868
.
5J97
SI?
’
"
.
92 1ft 211 10 66 16 13 73 la 87 37 64 209 16
——•
41
4 30 3 3
10
4
8 6 4 5
17 2 5 3 2
29 34
6 19 218 13 13 28 14
45 38 18 24 193 29 38 38 27
4 3
2
2 1
--
c
|
Francis.o
Sj
Si
1 1
£
1
*
§ 1
~1 ~2
1
1
8
4
1
1
8
6
—
15 18
7
"T
21
4
3
44
34
1
17
1
8
7
19
81
72
1
~T 1 "T
4
1 3
3 23
4 32
1
1
1
8
4
1
fe.100 4,726 9.826,
U-L.
1 4
1 4
1 3
3 16
7 45
1
~2 ~8
4
1 4
2 13
9 57
1 1
3 5
2 6
2 5
8 12
21 35
1
1
92 18 211 10 66 16 13 73 15 87 37 04
27
22
19
58
83
1 P426 “677 How
1 I 441
433
8741
L
1.229
p 48
209 16
p,100
2
437
238
3 ■1,718
226
8
2,967
86
►
as
mm!
Ifil
4.726 9.826
>
l
r ’1
-
‘
•
926
THE CHRONICLE
Wall Street, Friday Night, Oct. 7 1910.
Money Market and Financial Situation.—Nothing has
occurred this week to lift the security markets out of the
rut in which they have moved for some time past.
A better
demand for bonds continues to be the prominent feature,
and the list of issues traded in daily at the Exchange is a
long one, showing that the business is well distributed. The
The
,
total
volume, however, is not large.
: A fresh outburst of speculation in cotton, which carried the
price again up ward, has been a feature of the week, and the
expectation that the Copper Producers’ report for September,
issued to-day, would show,as it does,enlarged sales of the
metal,drew attention to the copper securities, and the latter
have advanced in price.
V As is well known, the political situation will absorb a good
deal of attention from now until the elections on Nov. 8,
and any material change in the general situation is not
looked for before that date.
In the meantime financial
conditions on both sides of the Atlantic are carefully studied,
and a substantial reduction of the Bank of England’s per¬
centage of reserve this week, although generally expected,
was regarded with considerable interest.
The local money
market has undergone no material change.
Rates have
averaged somewhat lower than last week, and the transac¬
tions of the Clearing-House banks with the Sub-Treasury
indicate a much smaller reduction of the surplus than re¬
sulted from last week’s operations.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from
2^ to 3%. To-day’s rates on call $vere 2@2%%.
Commercial paper quoted at 5%@5%% for 60 to 90-day
endorsements, 5%@5%% for prime 4 to 6 months’ single
names and 6@6%% for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £2,935,688 and the percentage
of reserve to liabilities was 47.67, against 50.39 last week.
The rate of discount remains unchanged ‘at 4%, as fixed
Sept. 29. The Bank of France shows a decrease of 20,775,000
francs gold and 3,475,000 francs silver.
$1,000 premium.
Louis, 20c. per
$1,000 discount. New Orleans, commercial, 75c.@$1 per
$1,000 discount; bank, $1 per $1,000 premium. Montreal,
46%@15%c. per $1,000 discount.
State and Railroad Bonds.—Sales of State bonds at the
Board include $6,000 New York Canal at 105 and $10,000
Tennessee settlement 3s at 96.
The market for railway and industrial bonds has been
fairly active and the business well distributed. Prices have
been irregular but do not, on the whole, show the advance
which has sometimes accompanied their recent movement.
United States Bonds.—No sales of Government bonds
have been
are
page
NEW YORK CITY CLEARING-HOUSE BANKS.
Capital
Surplus
Oct. 1.
from
previous week.
$
$
132,350,000
193,297,900
Loans and discounts... 1,285,416,400 Inc.
-
Circulation
47,189,600 Inc.
Net deposits
1,276,574,000 Dec.
U. 8. dep. (Incl. above)
1,550,400 Dec.
Specie
261,607,600 Dec.
Legal tenders
67,815,300 Inc.
Reserve held
25% of deposits......
Surplus
reserve
Surplus, ex el. U. S. dep
3,736,400
579,300
7,419,900
84,300
10,483,400
83,300
1909.
1908.
Averages for
week ending
Averages for
week ending
Oct. 2.
Oct. 3.
1
1
.
127,350,000
126,350,000
177,371,800
163,720,100
1,309,706,200 1,312,130,700
51,555,200
53,756,500
1,327,406,500 1,396,771,400
1,642,600
9,219,000
267,420,700
311,896,300
69,122,600
79,585,700
329,422,900 Dec. 10,400,100
319,143,500 Dec. 1,854,975
336,543,300
331,851,625
2s,
2s,
3s,
3s,
4s,
4s,
2s,
2s,
Dec.
8,545,125
4,691,675
42,289,150
10,667.000
Dec.
8,566,200
5,102,325
44,593,900
Note.—The Clearing House now Issues a statement weekly showing the actual
condition of the banks on Saturday morning as well as the above averages.
These
figures, together with the returns of separate banks, also the summary Issued by the
State Banking Department, giving the condition of State banks and trust companies
not reporting to the Clearing House, appear on the second page preceding.
Foreign Exchange.—Trading has been unusually dull
throughout the week, with fluctuations confined to a narrow
range.
Discounts in London closed the week easy, but a
firmer tendency is looked for next week.
The supply of
commercial bills is still very light for this season.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 84 for sixty day and 4 87 for
sight. To-day’s actual
rates for sterling exchange were 4 8310@4 8320 for sixty
days, 4 8630@4 8635 for cheques and 4 8660@4 8665 for
cables.
Commercial on banks 4 82%@4 82% and docu¬
ments for payment 4 83 @4 83%.
Cotton for payment
4 82%@4 82% and grain for payment 4
83%@4 83%.
To-day's (Friday’s) actual rates for Paris bankers’ francs
were 5 20% less 3-32@5
20% less 1-16 for long and 5 18%
less 1-32@5 18% for short.
Germany bankers’ marks were
94%@94 11-16 for long and 95% less l-32@95% for short.
Amsterdam bankers’ guilders were 40 5-16 less l-32@40 5-16.
for short.
Exchange at Paris
on London, 25f. 23%c.; week’s range,
high and 25f. 23c. low.
Exchange at Berlin on London, 20m. 45%pf.; week’s
range, 20m. 46pf. high and 20m. 44%pf. low.
The range of foreign exchange for the week follows:
25f. 24%c.
Sterling Actual—
High lor the week
Sixty Days.
4
Low for the week
4
Paris Bankers’ Francs—
High for the week
5
Low for the week
5
Germany Bankers’ Marks—
High lor the week
Low for the week
Amsterdam Bankers’ Guilders—
High for the week
Low for the week
8360
83
203*
213*
Cheques.
Cables.
4 8660
4 8625
4 87
4 8660
5 18$* less 3-32
5 183* less 1-32
5 183* less 1-32
5 18 M less 3-32
94 11-I6
94 9-16
95 3-16
95 1-16
953*
40 15
40 08
40 33
40 27
40 37
40 31
953*
The following are the rates for domestic
exchange at the
under-mentioned cities at the close of the week:
Chicago,
10@20c. per $1,000 discount. Boston, 10@12%c. per
$1,000 discount. San Francisco, 50c. per $1,000 premium.
Savannah buying, 3-16c. per $1,000 discount;
selling, par.
1930
registered
1930
..coupon
1908-18
registered
1908-18
coupon
1925
..registered
1925
coupon
1936.Panama Canal regls
1938 Panama Canal regls
*
The following
third
range see
1
Interest
Periods
Oct.
1
Oct.
3
Q—Jan
Q—Jan
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Nov
*100$*
*100$*
*101$*
*101$*
*114$*
*100$*
*100$*
*101$*
*101$*
*114$*
*115
*115
This Is the price bid at the
*
Oct.
4
0
5*
Oct.
6
Oct.
7
*100$*
*100$*
*101$*
*101$*
*114$*
*100$*
*100$*
*101$*
*101$*
*114$*
*100$*
*100$*
*101$*
*101$*
*114$*
*100$*
*100$*
*101$*
*101$*
*114$*
*115
*115
*115
*115
*100$* *100$* *100$* *100$* *100$* *100$*
*100$* *100$* *100$* *100$* *100$* *100$*
morning board;
no sale was made.
Railroad and Miscellaneous Stocks.—The stock market
has been
alternately strong and weak. Wednesday’s market
a sharp decline, which,
however, was fully re¬
covered on Thursday, and the result of the week’s operations
leaves a large portion of the active list from 1 to 3 points
higher than last week. The volume of business has steadily
declined from over 565,000 shares on Monday to a little
over 284,000 shares to-day, and
to-day’s market, besides
being exceptionally dull, was absolutely featureless. The
usual leaders of the market have been less conspicuous than
of late and a few relatively unimportant issues have at¬
recorded
tracted attention.
Among the exceptional features General Electric has ad¬
vanced over 6 points and Baltimore & Ohio, Chesapeake &
Ohio and Manhattan Elevated are from 3 to 3% points
higher. Northern Pacific, St. Paul, Canadian Pacific,
Great Northern, Missouri Kansas & Texas, Atlantic Coast
Line, American Sugar Refining, United States Steel issues
and Smelting & Refining have been notably strong.
On
the other hand, Sloss Sheffield Steel & Iron has declined 5
points and Brooklyn Rapid Transit and the InterboroMetropolitan issues are fractionally lower.
For daily volume of business see page 936.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Oct. 7.
391,482,000
349.192,850
10,279,400
reported at the Board this week.
daily closing quotations; for yearly
following.
the
1
.
Differences
LXXXXI
Charleston buying, par; selling, l-10c. per
St. Paul, 25c. per $1,000 premium.
St.
IBattluers’ (Stajelte*
1910.
Averages for
week ending
[VOL
Sales
Amer Brake Shoe AFoun
Preferred
Amer Teleg & Cable
Batopilas Mining
Buffalo Roch & Plttsb..
Preferred
Pacific
Canadian
sub-
scrlption rects full paid
Col&Hock Coal&I tr rets
Comstock Tunnel.
Evansv & Terre Haute..
General Chemical, pref..
Homestake Mining
Rome Watert & Ogdenb
Sears, Roebuck & Co—
So Porto Rico Sugar, pf.
United Cigar Mfrs, pref.
Range for Week.
Range since Jan. 1.
for
Week.
Lowest.
100 85>*
34 126
1,900 75
100 $2$*
100 102
100 127
Oct
Oct
Oct
Oct
Oct
Oct
100 193$* Oct
200
5
Oct
1,100 21c Oct
200 61
Oct
50 103$* Oct
110 86
Oct
34 122
Oct
100 158
Oct
45 113
Oct
100 101$* Oct
Outside Market.—There
Highest.
Lowest.
Highest.
1 85 $* Oot
1 126
Oct
1 82
Oct
6 12 $* Oct
7 102
Oct
7 127
Oct
1 S5H
1 119
7 71
6 $2
7 95
7 125
3 193$*
4
5
5 23c.
1 61 $*
4 103 $*
6 86
4 122
7 158
4 113
6 101 $*
3 174
Feb 193$*
4
4
5
Sept
3 21c.
Oct 36c.
1 55
Sept 61 $*
4 101$* June 107
6 81
Jan 89
4 120
June 122
7 150
June 166$*
4 110
Apr! 14
6 100
Sept 109$*
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
90 $* June
Oct
July 126
Oct
Sept 82
Sept 13$* Jan
Jan
May 106
Jan
Apr 133
Oct
Oct
Oct
Jan
Oct
Mch
Feb
Oct
Apr
Mch
Feb
was a good market on the “curb”
leading mining issues, trading at the
opening especially being livelier than for some time past.
Prices were carried to higher levels and, though profit-taking
brought about some reaction, the tone was strong through¬
out.
Copper stocks were the feature. British Columbia
rose from 6% to 7% and closed to-day at 7..
Butte Coalition
went up from 18% to 19%, down to 18 and back again to
19%. An active demand for Chino Copper carried the price
up about 2 points to 20%, the highest on record.
The close
to-day was at 20%. Giroux advanced from 6% to 7% and
ends the week at 7 5-16.
Greene-Cananea ran up from
6% to 7%. Inspiration Copper was in demand, moving up
from 8 3-16 to 8%, down to 8% and up to 9, the final figure
to-day being 8%. Miami Copper improved from 19% to
20%, reacted to 19% and finished to-day at 19%. Mason
Valley sold up from 8% to 9 7-16 and closed to-day at 9 5-16.
Ray Consolidated gained a point to 19%, lost all the advance,
and again moved upward, reaching 19% finally.
Kerr Lake
sold up from 6% to 6 11-16 and ends the week at 6%.
Nipissing weakened from 10% to 10% and finished to-day
at 10%.
Among miscellaneous securities, American Tobacco
advanced 9 points to 412 and reacted to 409.
Atlantic Gulf
& W. I. SS. Lines common sold down from 10 to 9% and up
finally to 10%. The preferred was traded in at 18% and
18%. Intercontinental Rubber, after fluctuating between
30 and 30%, sank to 28%, but recovered to 30%, the close
to-day being at 30. Standard Oil was traded in at 599 and
In bonds Western Pacific 5s eased off from 94% to
600.
94%, but to-day sold up to 94%.
Outside quotations will be found on page 936.
this week for all the
1
Exchange—Stock Record, Daily, Weekly and Yearly
New York Stock
OCCUPYING
Sales of
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
the
Week
Oct. 1.
Oct. 3.
Oct. 4.
Oct. 6.
Oct. 6.
Oct. 7.
Shares.
TWO
PAGES
Range for Previous
Year (1909)
Range Since January 1.
STOCKS
On basis
NEW YORK STOCK
EXCHANGE
of 100-share lots
Railroads
Highest
Lowest
Highest
Lowest
Mch
25
Mch
36
20
Mch
Feb 26
48% Feb 23
72*2 Mch 8
125%
90% J'ly 26 124*8 Jan 3 *97% Jan
99% 100% 100% 100*4 35,150
9934 101% 100% 101%
99% 100%
J’ly l 104% Jan lu
z97
100% Jan
106% J ne
650
100*2 100% *100% 1007s 100*2 100*2 100% 100% 100% 100% 100% 100%
137*2
Jan
5
Jan
107%
102*2
J’ly
26
143*2 Aug
4.600
113
*112% 114
114% 115
114*2 113
112
11234 112% 11434 114
8
119%
Jan
Feb
103*2
122% J’ly
160%
Sen
6
107
106
6,470
♦106%
106%
106%
10634
107%
106
10678
106*4
94
10534 106*8
7
90
Apr
Jan
91
Nov
87% Sep 10
200
*90
91
*90
91
91
*90
91
*90
91
91
91
*89
67
Jan
82% May21
8278 J’ne
68% Feb "
76% 7634 11,440 Brooklyn Rapid Trans! t>.
76% 767g
76*8 77%
76% 77*4
76% 77%
76% 76%
*165
Mch
189% Uct
176% Feb
198% May25
196% 195 196% 22,500 / lanadlan Pacific
194% 194
194% 193% 193% 193
193*2 194% 194
70 Jan
v Canada Southern. •
60% Jan
60*2 J’ly 20
70% Nov
72%
72% *65
72*4 *65
312
Jan
*62*2 72% *62% 72*4 *62*2 72*2 *65
215
323**
Sep
Feb
248
J’ly
26
175
Central
of
New
267
Jersey
267
*267
300
300
*267
290
*265
300
*260
290
*260
92
Jan
65
Aug 2
5568 Jan
91% Dec
81*4 82% 82,650 Chesapeake & Ohio
80% 82%
80
81%
80% 82%
79
79% 81%
79%
G6% Jan
67% Feo
74% Apr
400 Chicago & Alton RR____
23% J’ly 26
35
35
35
35
*35
36
36
35
*34
35
32
32
69
78** Meh
70
Nov
Apr
Do pref
64% J’ne 27
65%
§5*2 *-_„_ 65*o *.... 65% *_
65*2 *—-.
*_.
65*2 *„
J’ly
19
20
367g
Jan
31%
Dec
37% Uec
24
24
2,720 Chic Gt Wes'; trust ctfs_
23%
23*4
24%
23%
24
23%
2434
2334
23% 23%
64* < Deo
40
J’ly 26
64*gJan 10
5834 Dec
2,800
Do pref trust ctfs
47% 4734
47% 477g
48
48
48%
47% 4734
46
46*2 46%
141
Feb
105% S«P
121
122% 122% 123% 37,000 Chicago M’lw & St Paul.. 11334 J’ne30 158% Jan 3
12134 122% 121% 123% 12234 12334 121% 123%
143
Sep 2 172% Jan
158*2 Mch LSI Aug
800
Do pref
148% 148% *148% 150
149
149
148
14934 *148% 150
*148
149
198** Aug
173*8 Feb
2,470 Chicago & North Western 137% J’ly 26 182*4 Jan
147% 147% 5147% 147%
148
147*2 148% 148 148 *147 148
§148
225
Jan
208
Mch §230 Aug
203
Jne27
Do
210
pref
♦201
*201
210
210
*201
210
210
*£01
*201
*201
210
Apr 167 A**g
148
140
Chic St P Minn & Omaha
Apr 28 162*2 Feb 2i
150
*135
150
*135
150
*135
150
150
*135
*135
*133
150
Do pref
160% Jan §180 J iy
§160 Apr 25 §170% Feb 18
*145
165
*145
165
165
*145
165
*140
165
*140
*145
165
31, Dec
7
Jan
5% Jan
2*2 May24
100 Chic Un Trac ctfs stmpd
3
234
*2%
3
*2%
*2*4
*234
3
234
234
*2*2
3%
12% Jan
7% Dec
Do pref ctfs stmpd....
18*4 Jan
4% Sep 28
7
*6
*5%
*0
8
7%
8
*5
*5*2
8
*5
7
68
Jan
70
25
18
St
J'ly
92%
Mch
L
83% Dec
75
75
75%
75% 75% T.266 Cleve Cln Chic &
75
75
*71
7634
75
*72% 75
100
Jan 105 Mch
99
Sep 14 104 Jan 15
Do pref
110
*99
110
*99
*99
110
no
110
*99
*99
*99
HO
51
Oct
46
J’ly 26
65% Feb 2b
68*4 Jan
3'ioo Colorado & Southern-...
56
56% 57
56
66%
66*2 57
*54’"
56% 6634
56%
83
Men
80
May
70 J’ly 27
76*2 J,aa
Do lrt preferred
300
*74
75
*74
*73
75
74% *74
73*2 74
*72*2 74
81
Jan
73% Jan
84% Jan
Do 2d preferred
70 Aug 1
*73
75
*73
*72
75
75
*72
*69
72
73*? *72
May
200
185
Jan
Feb
167%
149% J’ly 26
l'lOO pielaware & Hudson
167
167
1657g
166
*166
167
167% ♦165*2 167*2 166 166
535
Feb 680 Apr
1 C/e*aware Lack & West.
490 J’ly 26 G20 Mch 21
§500 500
625
*500
*497*2 625 ♦497*2 625 *497*2 625 *497%
52 Jan
Apr
3
51
37% Jan
23% J’ly 26
32
32
1,900 Denver & Rio Grande..
32
32
32%
32
32% *30%
32%
31% 31%
84
Jan
3
90
Feb
79% Jan
Do pref
460
62% J’ly 26
74
*72
73
73*4
73% 73*4 *73
73% 73*2
*72*2 73%
66
Jan
27
58
Jan
45 J'lyn
71% Aug
Detroit United
*
61
61
*-.-.
*....
61
*54
60
21
Jan
10
J’ly
1
3
14%
Nov
1834 Jan
Duluth So Shore & Atlan
*12
14
*12
14
*13
*12
14
*11
13
*11
13
28
Feb
36*2 Jan
17
J’ly 26
84% Jan
Do pref—
24
247g
950
2434
i
*23
23%
23%
*22
24
24*4
23%
23%
39
J'ne
22% Mch
34% Jan
19% j ly 26
27% 27% 127,280
27%
27*8 28%
27% 27%
26% 27*2
2634 27
35
36*2 Men
J’ly 27
56% Aug
62% Mch
Do 1st pref
46
46% 46*4 10,625
46
45% 47
46*2
45*4 4634
45*4 45%
42
Mch
46
Aug
28*2 Mch
Do 2d pref
26% J’ly 27
2.900
8634 36*4
35%
36
36%
35*4 3034
35
35
35% 37
136% Feb
1577s AUg
118
J'ly 26 143% Jan
12734 128% 10,975 Great Northern pref
127
Mch
1273s 127*2 128% 12734 12834 127% 128*2 127%
65%
6
80%
Jan
Iron
Ore
45
J’ly
88*2 AU*
properties
4.900
57
57% 57%
56*2 57*4
56
56% 5734
5634 58
§56
Deo
21
13*2 Nov
11
Aug 10
18% Mch 22
35 Green Bay & W, deb ctfB
14% 14%
14*4
14*o 1434
14L 14*o
Feb
97* j Apr U
103
Deo
39
Jau
20
88%
*94
*90
*94
*94
*94 “
*94
Feb
99 Jan
4
100
Deo
83*8
Do pref
94% Jan 25
95%
957g *
96' *
95%
95% *.... 95%
102
May 5 140 Oct 4
135
*120
135
,,
675 Hocking valley
120
125
120
125*8 140 *.... 135
*Apr
88
86
Feb
7
94
i*
J’no
Do pref
101% J nel4
Feb
137
102% Aug
Illinois Central
124 J’ly 26 147 Jan 5
TTI,
132
133
133
132% *130% 132% *130 134% "'■550
133
133
133
*132
25% Jan 11
11% Mch
25% Dec
14% J’ly 26
21
203g 20% 14,560 Interboro-Metropolltan
20*8 21%
21
2034 21
21%
2034 21%
02% Jan 12
Do pref..
30% Mch
63% Dec
41% J’ly 26
56
56% 12,600
55*8 56*2
56
56
57
5514 56*4
57
56%
58%
30
Jan
3
36
Apr
15
J'neao
2634 Nov
2,550 Iowa Central
17% 17%
17*2 17%
17*8 17%
17*8 17%
1634 17%
1634 1634
Apr
48
Sep
62
Do pref
25
J’ly 26
54% Jan 3
4,450
34
34
34
34%
3414 34%
3284 34*8
31% 3234
*3034 3134
80
Feb
18
82
Sep
68
Aug
2
7434
T
eb
*70
75
80
*75
\T C Ft S & M tr cfs, pref
80
*75
*70
78
80
80
*72
♦72
f0% Aug
*eb
37
J’ly 2o
23
44% Jan
4*050 IVansas City Southern..
31
31
31
31%
30*8 31%
3034 31%
29% 29%
29*2 31%
71
Jan
Do pref
58 Aug 2
07%
75% Aug
800
*63
65
64%
6418 64% *63
64
64
64% 6478
64*2 64%
15
J’ne30
2534 Jan
29*2 A«*
19*2 feb
600
*19
20
20
*18
20
20
19
20% *17
*17
19
20*2
48
Jan
Do pref
39
Oct 1
64's J no
6234 Jan
400
45
45
*39
*35
40
40
*40
50
45
39
39
*39
Jan
59
1
711', Deo
60
J’ly
14
400 Long Island
70% Apr
68
68
*67*2 68*2 *67*2 68*2
Jan
68% 68*2 *67*2 69
6734 6734
xl2l
131*«>
J’ly
26
Jan
15934
162%
AUg
Louisville
&
Nashville...
4,920
145
145% 145*4 146*2
144% 145
Dec
144% 144% 145% 146*0 145% 146
137
123
153*2 Jan
*I!P®30 146 Oct
8.023
145% 145*2
143
144
14434 146
143
142*2 14334 143% 1447g 143
Sep
61
65
Jan
23
J
26
5334 Jan 4
inneapolls & St Lou<s
1.700
25
24*2 25*2
24
25
25>4 25% *24
*23
Mch
23% 23%
2434
80
Feb 14
SI
90
Jan
Do pref
40
Sep 21
100
;
*42
51
49
*42
46
46
*40
*40
49
49
145
Men
3
St
P
&
S
S
Marie...
Minn
114
J’ly
26
149*2 Jan
132%
Jan
3.040
132%
13278
132%
1327g
132%
131
132%
131
131% 1327s
131% 133
147
Do pret
144
J’ne 6 155% Mch
Apr 164*2 AUg
*140
150
*144
*147
145
150
146% ►145 150 *145 150
*142
94
Dec
89
J ly
Do leased line ctfs.... cr86% Sep 20
9234 Jan
■■~200
89
*88
*88
89
89
88*2 88% *88
*86*8 89
*87*2 88*2
61*g Jan
50*2 Oct
27 J’ly 26
35% Feb
34% 35% 33,240 Mo Kansas & Texas
33% 34%
3318 34%
3234 33*8
32*4 33
32% 32%
71
Teb
Do pref
J’ly -6
74% Jan
67
78% Oct
400
64
63% 63*2
63l4 63% *62
6434
*62
6334
6834 63*4 *62
65
Feb
41
J lV 26
73% M&y23
77% Aug
56
55
10,600 Missouri Pacific
54
54
54% 55%
54*2 5434
54% 55
54*4 54%
139
Jan
142
Deo
125
J’ly
*6
no
Jan
122*2
140
*135
135
135
140
*135
140
*135
140
135
•134
§135
64
Dec
60
Feb 3
at Rys of Mex 1st pref
300
7034 Oct
44% Apr
70*4 70*4
71
*68
*69% 71
f-'
70
*68
71
*69
Dec
21
Do 2d pref
26% May
32% Oct
23% J’ly 26
3,400
32
32% 32%
32*8
32
32%
31% 32
3134 31%
31% 31%
14734 Aug
120% Feb
114% 12,770 N Y Central A Hudson.. 105% J’ly 26 128 Mch
113% 113% 11334 114% 11334 114*2 11314 114% 113% 113% 113%
Nov
67
69
May27
300 N Y Chic & St Louis....
48*2 Mch
55% May 4
*63
65
65
*63
64
64
63
63
63
63
63
*61
100
Feb
100
Fob
Do
1st
10934
Jan
21
pref
...
§101 J’ly «
110
*100
*104% 110 *104% 110
110
*100
no
*100
110
*100
98
Jan 19
95
Nov
Do 2d pref
76*4 Apr
82% Apr 28
91
*8814 91
♦84
*88% 91
93
*85
92
*80
*80
93
640 N Y N H & Hartford.... 149 Apr 28 162 Mch 14 1154 Nov 17434 J’no
1537g 1537g
15414 154% 154 154
*151
156*r 15334 15334 *152% 155
1,150 Subscription receipts s__ ftl43 J'neio 5151 Mch 11 5147% Deo 514934 Dec
148
147% 147%
*146
147*0 147% 147*2 147*2 147% 147% 147*4 *147
50
J&n 6
42% Feb 3 65% J no
38% Aug 2
2,100 N Y Ontario tic Western.
41% 41%
41% 41%
4U4 4134
4134 4134
41% 42
41*2 41%
Doc
102
Norfolk & Western
;.
108% Mch 21
84% Jan
88%
J’ly
26
5,550
9734
98
98%
9734
98
99%
9812
*97
98*4 99
97*2 9S34
88
Feb 2
Do adjustment pref
85% Mch
92*2 J iy
91% Mch 16
*84
90
90
*85
133*4 Feb 159*2 AUg
111% Aug 3 145% Jan 3
117% 119% 117% 118% 118% 1187g 33,275 Northern Pacific..
117% 119
116% 117% 117% 119
76
Mch Hoi, Deo
...
I>aciflc Coast Co
101% Aug 17 H834 jan 12
*100
112
*100
112
110
no
*98
HO *100
110
*100
*98
100
Mch §106 “Sep
C
Do 1st pref
*80
110
....
*80
110
110
*80
*80
no
*80
110
no
*80
Ils’
88
Mch 115 Deo
Jan
-3
Do
2d prel
165"
Feb”
14
*100
115
115
*100
114
*100
*100
115
115
*100
115
*100
126% Feb
151% Sep
122% J’ly 26 138% M^h 9
.....
25,135 Pennsylvania
129%
1297g
130%
130
129%
12912
130%
1303s
129% 130%
129% 130
86% Jan
89
J’ly 20 104% Mch 22
997s Deo
96
1,500 Plttsb On Chic & St L..
*93
95
95
*94
96
95
*9412 96
*93
9434 96
104 Feb
Do pref.
114
116% Sop
MchlO 116 Mch 1
♦105
116
116
*105
116
*105
116
*105
116
*101
116
*101
118 Feb
173% Sep
146% 147% 418,100 Deadmg.............. 130% J’ly 2« 172% Feb 18
148% 146% 147
146*8 148% 147% 148% 146
146*2 147
89
Mch
96
Aug
tv
1st pref
x85 Aug 24
....
93% Feb 17
*86% 88
*86% 88
*86% 89
*86*2 88
♦86*2 89
*86*2 90
Feb
90
87
j’ly
20
110%
Jan
3
117% DOO
98
*96
1,200
2d
pref
98
*97
98
97
98
98%
97
97
98*4
97*2
81
Deo
57% Jan 3
207$ Feb
22% J’ly 26
31
31% 31% 27,800 Rock Island Company...
31%
31% 32
307g 31*4
31% 32%
31% 31%
57% Feb
9434 Deo
54
J’ly 27
92% Apr 9
63
2,300
Do pref
63
6334 6334
64
64
64
*62
64*8 64%
6434
64%
73
Jan 6
74
Deo
58 Aug 11
65% Mch
*58
65
65
*58
Qt L & San Fr. 1st pref..
*61
67
65
*58
65
*55
65
*55
60 Jan 5
36
Feb
60% Sep
34*2 Aug 1
2,200 £7
Do 2d pref...
41
4034 4034
40% 41%
41%
4034 40%
40*2 41%
40*2 40%
34*2 Jan 3
20% Feb
35% Deo
600 St Louis Southwestern
18*2 J’ly 26
*29
30
29
29
30
29*o 2934
29*2 29*2 *27
29*2 29%
Doc
82
77% Jan 3
47% Jan
400
Do pref
70
61% J’ly 26
67
67% *66
71
*65
71
*65
6712 67%
67*2 67*2
xl38%
Jan
4
Feb
AUg
114%
139*8
103%
J’ly
26
115
46,350
Southern
Pacific
Co
115%
114% 11534 114% 115%
11434 115% 115 116% 115% 116
34
Aug
22 Feb
18
J’ly 26
3334 Jan 3
7,500 Southern v tr cfs stmpd 24% 25
2334 2334
23% 24%
2334 24
24*8 24*2
23% 24*s
75 Jan 3
60
Jan
43
J’ly 20
75*2 Deo
3,220
Do pref
do
55% 56%
*53
54% 54%
*52
55
55%
54
5434 56
5434
30 Feb
3634 Jan 3
40*2 Aug
22*2 J’ly 26
28
1,900 f|^exas & Pacific
28% 28%
27
27% 28% *27
27
27*2 27%
27*2 28
J’ne
1
5*4
19%
Jan
7
12% Dec
42*2 Jan
11
3,700 third Avenue (N Y)._.
11%
9
*8
9«4 1034
9
9
*9
*9
9%
9%
7
May
1534
Jan
12
100
Toledo
Railways
&
Light
J’ly
15% Jan
5*i
6
8%
*7341 81*
*7%
8%
8*o
*7%
8*4
8*4
8*2
*7%
*7%
43
Feb
54%
J’ly
Jan
4
19
26
547g Oct
3.025
Toledo
St
L
&
Western..
26
26% 26%
25
25% 26%
2534 26%
23% 25%
2334 23%
72% Jan 4
74% Jan
64% Feb
42% j’ly 28
3,725
Do pref
58
58%
56% 58%
56
57*2 68
58%
57*?
55*2 56
97
Jan
110% Doe
1,250 Twin City Rapid Transit 103 J’ly 26 117% Jan 3
113% 113% 113% 113%
112
112% 112% 113%
11134 111% 112
219
Aug
172% Feb
152% J’ly 26 20434 Jan 3
166% 167% 1673g 168% 268,200 I [nion Pacific
166%
167*8 168% 167*2 169% 16734 169
*94
Mch
118% AUg
88% J’ly 26 10334 Jan
92
2,900 vJ
Do pref_
I
*91
91%
91
91% 92
91%
91% 91*2
30 Feb
47 - Sep
42% Jan 3
100 Unit Rys Inv't of San Pr
23% J no 30
30
*27
29
*28
29
29
*28
*28*2 29
77 Sep
72% Jan 8
50% Feb
47
J'neao
Do pref.*...........
300
*55
59
57
57
*57
58
57
57
57
15 Feb
27% Deo
2734 Jan 3
12% J’ly 2u
2.450 It/abash
16% 17
17
17
16*4
16% 17
1634 17
61 Jan 3
41
Feb
6134 J’no
37
36
28*8 J’ly 26
8,050 »»
Do pref....*....
3634 37%
37%
37*2 37%
37% 38%
37*4 37%
40
54%Mch
J'ly 26
12
3,600 West Maryland Ry
4734 4784
48
47% 47%
47%
47*2 48
48*2
47% 48%
67
15
May19
AUg
70*2
600
Do
69
69
pref
*67
69
69
69
*67%
68% 68%
10 Jan 3
3
5
J ty ’’12% jin
Apr 28
1,200 Wheeling & Lake Erie
*5
6
5
5
6%
*5
6
*5
23
8 J’ne30
Jan 3
15% J’ly
25% Jan
Do
1st
*10
pref....-.....*
*10
*10
12
12
*11
12
*10
4
J’ne30
13*2 Jan 3
15*8 Jan
6% J'fy
500
Do 2d pref
*5
*5
7
7
7
*5
*6
*6
357a
Jan
637* Apg
57*4
Oct
3
44
J’ly <>6
*53
7,100 Wisconsin Central.
54% 54%
53
54
53%
57%
5534 5534
53*2
*24
35
*65
72
35
72
*25
*68
*25
*68
100
35
72
*25
*68
*25
*68
35
72
101
35
72
A nn Arbor
tTL
Do pref..
Atch Topeka A Santa Fe
Do pref
...
Atlantic Coast Line RR..
Oaltlmore & Ohio
D
Do pref
35
72
*25
*68
25
...
\>Ct
-
,
_
,
_.
.....
.
Erie
,
Havana Electric
....
,
...
....
—
.
...
”
£eb
Lake Erie & We.tern
Manhattan Elevated
m
Nash Chatt & St Louis,
'
.
...
.
—,
+
...
BANivS AND TRUST COMPANIES— BROKERS'
175
Ask
Banks
bia
Ask
310
325
I8U
600
,'hatham
Chelsea Ext
Chemical
Citizens' Cti
America D__
Amer Exch.
Audubon
575
ion
116
Battery Pk.
Bowery!)
115
376
300 :
125
Bronx Nat
195
205
155
140
170
*25
16 »
145
..
Bronx Boro!
Bryant Pk \
Butch & Dr
230
_.
....
..‘ia
City
•
»
•
...
.
-
430
160
....
& Iron
Colonial 11...
425
Columbia 1U
Commerce
1201 t205
Corn Ex H_i 307*?
East River.
125
115
175
Fidelity D.. 105
Fifth A veil 4100 4500
Coal
_■
200
425
150
385
*5»
400
■
bia
■
Banks
Net0 York
Aetna .....
—-H —-
'
_
.
....
Banks
Fifth
First
14th StH
Fourth
Gallatin
....
...
Garfield
Germ-Am
U
Germ’n Exfl
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Gotham
Greenwich D
-
^UOTAITONS.
But
Ask
Banks
Bid
Ask
300
835
150
350
855
155
frvlng N Ex
200
210
185
tl85
-
320
340
290
MO
485
255
300
150
505
565
155
265
610
540
625
560
550
150
JeffersonH..
Liberty....
Lincoln....
Manhattan!)
Mark’tAFul
Mech 4bMet %
Mercantile
.
Merch Exch
Merchants'.
Metropolis U
025
400
315
245
23&
150
160
177
390
200
250
42*5
330
255
245
460.
Banks
Mutual 5--
Nassau 1i
New Netb’d
NewYorkCo
New York.
N’ht &Dayl!
19th Ward.
Northern
170
Pacific!).._.
185
Park
“4l5
But
Ask
285
240
210
900
315
200
295
250
230
35J
„
.....
220
__
325
215
260
105
240
People’s D-. K50
275
Pbenlx
200
BUt
Banks
Prod Exch % r i«i%
Reserve
100
seaboajd .. 390
Second ...i. 400
Sherman... 135
State *D
275
Ask
'
...
425
290
140
....
12th 'Ward.
23d Ward.!
Un:on Exc.
Wash H’ta 11
West Side f
fib ’
165
175
275
5^
600 :
,
tforkvlUe U. duO
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-Bia ana a neuprees: no sales were made on tnis nay. * Kx-rignts.
4Less tnaa 100 snares. 1)State oanns. a Ex-dtvidpnil and rights. *NUew toclC.
♦ Sale at Stock Exchange or at auction this week
5 First Installment paid, n Sold at private sale at this price, z 2d paid, y 3d paid* f
Century !)._
Chase
.....
175
4*'
\
S-'Siti:':
Hanover
Iran & Trad
Metropol
Mt
'nfl
210
190
625
4
938
New York Stock
STOCKS—HIGHEST
Saturday
Monday
Oct. 1.
♦260
6512
44*4
39l4
95
8%
68%
48%
11412
♦114
11412
♦6212
63
♦230
627S
*1034
270
*4
48
*114
*230
4l4
214
18l4
*20%
184
♦111*
*37*4
64*4
4334
657g
43*4
48
114
63
124
*240
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1134 114
*110
120
1384 1384
*914 94
♦27
284
*924 95
394 40
$19
12
12
*11
33*4
394
♦27
*57
*134
12
135
12
30
34
34%f
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3134 32
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32
54
1334 134
134
134*4
16*4 1S*4] 15*4 15*4
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774 *764 774
*
♦57
29
63
30
25
50
146
*
*474
*144
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30
*_
48
146
117
64
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304
64
30
25
48
294
25
48
146
628g
*80
48
524
524
106
194
*103
204J
74
75
68
32
$68
*31*8
87
527s
106
19*4
*74
67
32
204
*80
53
*103
20
77
30
18
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*162
951J
*2
*27g
*324
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164
3
5
34
99
317g
AAQ
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57l2|
85
594
*122
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94
94
564
584
1144
00
331g
334
1364 1384
90
9
59
1024
1044 $10212 1024
16
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108
69
694
74J
109
71
*122
*45
55
744
751;
61
1094
71
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165
734
66
128
1274 128
*95
128*4
294
29*4
59
121
1164 1164
*112
137
95
51
43
*60
*29
*20
59
*114
124
*50
53
*114
504
*41*4
42*4
847g
122
174
*82
64
*103
95
*82
65
204
*73
*66
*31
204
78
69
32
*73
*95
163
*2
54
97
163
3
*27g
35
99
33
6%
*34
*90
314
*03
51
*105
*34
*93
314
93*4
524
*314
*8
*54
*100
*103
90
9
59
*85
*8
*54
*100
*103
*15
90
9
59
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*8
*54
*100
*103
16
*50
*99
*67
1024
1024
1044
1044
164 164
164
*504 584 *504 58
110
70
05
*68
84
25
357g
364
1094 1094
74
*70
69
Hid
*45
165
734 74
67
704
U^ney Isl’df;
50
Hillside^—L
Mennfac'rs’"
Moatauk
Nassau
..
110
290
310
125
115
415
225
245’
245"
150
270
1024
104%
16
58
110
694
73*4
704
1284**123
Banks
Nat City...
North Side |
*64
*154
*354
25
*70
74
68*4 697g
117% 117%
48*4 49%
60
6078
*122
*45
764
724
1264
Bid
124
50
74*4
684
33%
Do pret
800
940 Pressed Steel Car
220
Do pref
635 Pullman
Company......
.....
Quicksilver
Do pref
5%
600
"V.720
324
310
4,300
222
370
10
200
35
2,526
1,100
100
50
125
75%
Ask
290
150
305
180
...
*124
Trust Co’s
N Y City
Ator
Bankers' Tr
B'way Tr..
330
020
145
90
350
650
150
126
N
YCUy
Carnegie
Bid
if;
100
Central Tr. 1000
Columbia
275
Commercial 120
Com wealth
150
Empire —i 300
Eqult'ble Tr 455
Farm Lo&T 1650
Fidelity — 205
Fulton
290
....
-
115
8
48
......
United Dry Goods Cos..
Do pref
U S Cast I Pipe A Foundr
Do pref
United States Express
U S Realty A Improvem't
U S Reduction &
Refining
Do pref.
United States Rubber-..
Do 1st pref
Do 2d pref-.United States Steel
-
100
21
49
Jn«3C
125
Jan
112*4 Jan
J’ly 26
J’nezu
0j% Mch 1<
394 Men 18
Wells Fargo A Co
03*4 Jaa
$87% Feb
18*4 Mch
3
3
10
3
3
47
leb
118
Jan
I
83
6
55
96
_-
Feb
8
994 Aug 2
144 J’ly 21
49
138*4 Oct
0o
J’ly 5
j’ly 15
Aug 2
15
32
84
145
11G4 Jap lu
84
01
152
66
4
125% Jan
$604 Jan G
624 May27
1294 Jan 4
73
§25
8 al95
J’ly 26
494 J’ly 26
May 3
Jan *
Jan 15
Jan 4
784 Mch
—
110
Jan
Jan
824 Jan
130
4
3
gi4 Feb
Jaa
Oct
66
115
rl09
Jan o
Jan luo
Jan lo
844 Jan 4,
11
Jan 14
294 Jan 3
624 Jan 3
J!ne27
J’ly 8
Feb
Feb
801* Feb
Jan D
Jan 3
11378 Jan
J’ne 28
954 J ly 26
64% J ’ly 26
4
13
27
99
May 13
134 Jan 10
73
122
Sep
24% Feb
Deo
63
414 Jaa
054 May
Ang
04
172*4 Aug
lIa%"Dee
Deo
Oct
128
9
27% Jan
104 Jaa
60*4 Aug
544 Nov
Sep
113% Deo
954 Nov
01
‘
—
21,690
estern Union Teieg..
23,350 Westingb’seEl AMfg assen
1,200
Do 1st nref
Feb
26
-
...
..1
Feb
004
7
17% Dec
J’ne 8
33
Jan 4
23% Jaa
254 J’ly 26
48% Jan s
2612 Mu'!
994 J’ly 27 1004 Mch 8
90*4 Apr
224 J’ly 26
50 Jan 3
20 Feb
3
Sep 12
024 Jan 4
21% Feo
322 J’ly 26 160% Jan 3
114,2
114 J 'ne30
234 Jan 6
164
70% J’ly 26
86% Jan 3
734 Feb
55
Apr R)
624 Feb 26
45
Jau
254 J’ly 26
36*4 Jan lb
324 Feb
20
Sep 26
60
Mch 8
55
Mch
48
Oct 3
88
Jan
80
Feb
134
J’ly 2b 1607, Jan o
l50i(. Feb
$7% Sep 8
$94 Sep 26
s834 Feb 6 12o<s Jau to ’”02 oaa
xll7
Aug 11 129 Jan 4
1094 J*11
44 J’ly 25
74 Jan
f %J
}/
12% J ly 26
24% Jan
18*4J iy
9
J’ly 1
16 Jan
91. Mch
414 J’ly 26
6I4 Jan
47% Me?
36% J’ly 26
54% Jan
33u Feb
784 J’ly 26
90*4 Jan n
8212 Jaa
93% J’ly 29 U64 Jan 10 104 J’n«
79 J’lF 26
93
70
Sep 22
Jaa
71
J’ly 27
/s4 Jan xu
604 Jaa
100
Ajlg 0 115 Jan 5
064 Jan
118% J^y 6 126 Jan 17
11341**'
14
Sep 17
284 Jan 3
12%*eb
854 Mam
964 Jan 18 1
82
Jaa
464 J’ly 26
89% Jan 4° 714 Feb
101% j ly 26 11012 Jan 17
102% Apr
$1712 J’ly e $21% May 16
59
J’ne 6
954 Jan 3. ’’so"’Feb
63
J’ly 6
84 Jan
72
Jan
22% J’ly 26
434 Jan
20i* Feb
30
J’ly 25
464 Jan
454 Nov
103 J’ly 26 116% Jan
1014 Jaa
84
J’ly 6 IO64 Jan
994 Dec
13
J’ly 26
27% Jan
10
Apr
85
604 J’ly 26
Jan
Feb
40
25 J’ly *6
51% Jap
301* Feb
00
J’ly 27 1074 Jan
96
Feb
155 j’ne 20 200 Jan
169
Jaa
2
Sep 26
37* Apr 6
1% Jaa
27b Aug 2
3
Mca
6% Mayil
28
J’ly 26
321* Mch
51% Jan 3
*904 Sep 7 107 Jan 17
977. Feb
27
J'ne 4
45% Jan &>
16% Feb
82*4 J’ly 26 1044 Jan “
67i* Feb
484 J’ly 30
864 j an
68
Feb
114 J’ly 6 118% Feb
107% Feb
$19% J’ly 26 $40% Jan
$334 Oct
134
Oct 7
J’ly-6
J’ly 26
59 -> j’ly 27
614 J’ly 26
Do pref
1101* J’ly 26
dUtah Copper
Par $10 t$39% J’ne30
Virgin a-Carolina Chem..
47
Feb 3
Do pref
117
J’ly £8
V 'rginta Iron Coal A Coke
50
Sep 24
Vulcan Detinnlng
Feb 28
148% Feb 24
1644 Jan
18% Jan
Men
Mch
84% Feb
j 15% Nov
118 Nov
126
Feb
128% Feb 18
34
65
Jan
22 >
05
77% Deo
Sep
Sep
120
130
304 Deo
994 Sep
Aug
04
113% Aug
974 Nov
874 J’ne
484 Nov
Oct
Aug
Dec
20% Nov
64
120
103
874 Deo
Aug
111% Aug
56
Aug
200
9% J’ly
10 May
644 Au*
109
Ang
494 Sep
1104 «i’iy
94% Oct
120
Sep
$49 Jaa
93%
15%
814
1254
114
J ly
J ne
J’ne
Dec
Deo
354 J'ne
70
Mch
874 Aug
82
Feb §111
Deo
64
Feb
87
Sep
10 Mch
174 Jne
24
Feb
394 Aug
27
Feb
57% Aug
98
Jaa
1234 Aug
674 Feb
894 Aug
414 Feb
94% Oct
FeD
107
$394 Feb
404 Feb
114
67
6
300
64
74
Jan
Feb
Feb
Jan
Feb
Feb
Mch
Feb 24« 110
Ask
-
110
trust Co's
Bid
Ask
Guarty Tr.
800
810
Hudson
170
285
180
180
295
Guardian Tr
...
235
Enlckerb'kr
130
Law T I ATr
Lincoln Tr.
310
Madison
Mannattan
1675“
210
^
t rust Co's
Bid
NY LlfediTr 1100
N Y Trust. 625
Standard’Tr
90
400
262':
130
20J
2624 TltleGuds Tr t4974
375
700
400
Metro pol't'ii
510
525
Mutual——
13)
...
Mercantile
_
Mut AUnce
120
140
740
130
’
Ask
Tr Co of Am 320
330
Union Trust 130J 1360
US Mtgds Tr 465
470
Unit States. 1175
1200
Washington
Westchester
Windsor
no sales on this
day gLess than. 100 shares. $ Ex-rights, b New stock c
Ex«dlv and
or at auction this week,
a Es- stock dividend.
U Banks marked with a paragraph
—
375
150
120
trust Co's
131
Oct
$674 Nov
56% Deo
128
Deo
75% Sep
374 Nov
670
Deo
854 NOV
90
Aug
145
Sep
J
Brooklyn Tr
Citizens'
Flatbush
130
Ask
405
210
270
420
140
220
225
290
100
108
...
..
Franklin..
Hamilton
Home
| | Kings
i
Co
L 1st L. A 'Tr
.
160
Bid
Brooklyn
1120
650
105
410
1
1 Nassau
....
People's
Queens
...
Co.
Wllllamsb'r
no
47% J’ne
694 Aug
122
Aug
114 J’ne
59
Sep
92% Aug
1064 Nov
116*4 Aug
§285 Nov
105
May
66% Nov
136% Sep
181
Apr
1*6% Sep
104
May
404 Aug
107% J’ne
$54% Deo
364 SeP
604 Sep
16412 Deo
194 Deo
87
Nov
51% Oct
111
Sep
53
Deo
014 Deo
1654 Jaa
264 J’n*
931* J ne
77% Feb
101 Jan
lo
J
20
64 J'ly
Nov
80
2*5
Apr 27
1014 Sep 20
$54
Feb
Jan
Feb
88
3
3
Mch
Jan
Jan
Jan
Dec
Sep
61% Aug
424 Apr
iOO
10
1094 Feb
-
104
104
Feb
18% Jan
Feb -8
Mch 21
124
Jan
12
29
49
3
Nov
Aug
Nov
Nov
764
124%
794
1074
64 Feb
Feb
84
907s Jan
Aug 10
8
28
08
(206
4
oan
Feb
Feb
42% Jan
Jan
CO
Jan
44 U
107 4
Aug
Aug
491* Aug
98 “ Oct
164 Nov
86
J’ne
COMPANIES—BANKERS' QUOTATIONS
i rust Co's
..
160
76%
73
pret...
...
69% 704 425,680
1184 118%
6,600
494 50
35.010
60% 61% 18.450
200
*1224 123
717g
Do
Sloss-Sheffield
Steel A Ir
Do pret
Union
Do Bag
pret <Ss Paper....
74
50
Railway Steel Spring..
Republic Iron "&"steel—I
3,600 Texas Co (The)
Texas Pacific Land Trust
364
109% 109*4
*70
Mining
33~370 '(Tennessee!''opper Parti 5
60
110
70
8
25
*6%
*154
364
75*4
72*4
707g
125
'5 F
People’s
158
Prosp'ctPkV 150
Terminal H-
tBalo at Stock Exchange
_
35
99
*50
*100
*67
pref
Pacific Mail
1024
1044 104%
*15
164
8
—
•Bid and asked prices:
Do
14,150 dNev Cons Cop per. Par 35
700 New York Air Brake....
1,050 North American Co. new
1,550
....
aclffc Telep A Teieg.
10,555
1,150 People's G L A C (Chic).
300 Philadelphia Co (Pittsb’b)
300 Pittsburgh Coal Co—.
♦158" 165” *158’ 165*’ $164% 164% """"16
Brooklyn
155
Homes tead^
Mechanics
Ask
'
Broadway ij 375
Brooklyn V
......
93
18
90
9
59
.....
......
674
314
454
1074
*85
*8
*54
*100
3634
1094 1094
74
70%
1174 118
48
494
59*g 604
1224 123
55
1284
105
70
-
$84
*154
90
9
59
pref
National Biscuit
1054
20%
93
51
Do
Smelt'g
...
654
93
51
pret.——
Carpet--.-
2,650 International Paper
Do pref-_-_
850
1,850 internet Steam Pump-..
Do
515
pret
1,300 Laclede Gas (St L) com..
2,800 Mackay Companies
Do pret
797
1,000
..,
100
Do pret
2.350 Nat Enamei'g A Stamp'g
Do pret
7,500 National Lead
504
97
163
3
35
99
BANKS AND TRUST
Beaks
Brooklyn
12
43
85
*27g
Do
Crex
Int Harvester
78
*95
*161
*2
.
150 Int Mer Marine.stk tr ctts
Do pret1,300
54
“
174
87
554
♦103
1054
204
77
69
937g
872
*994 100
924 93
764 764
87
.
9.700 General Electric
25.800 dGoldfield Con M-Par $10
4,500
tr ctfs
Do pret stk stk
200
tr ctfs
914 924
764 764
1094 1104 110 110%
1214 1214 *121 122
174 174
174 174
76
110
Do pret
Brooklyn Union Gas.
Brunswick Term A Ky Sec
B utterica Co
/ central Leather
Do pref
Colorado Fuel A iron
Col A Hock Coal A Iron
Consolidated Gas (N Y).
Corn Products Refining-
5.300 Distillers’ Securities Corp
Federal Mining A
122
*44
IJethiehem steel-._.
i>
Jan
84 Jan
4/% „an
294 Mch
17% Jan
46% Jan
024 Jan
„
59
*120
100
u20
064 Nov
60
103
74 Feb
U4
69% Mcb
106 Apr 10
.
1678 Aug
674 Nov
334 Jan
954 Jan
204 Jau
82
Nov
.‘60
Feb
Feb
3»
65
13% Jan
101
Feb
§235 Aug
34 Sep 13
19
Sep 8
1,350 American Ice Securities—
164 J’ly 26
500 American Linseed
104 J ly 27
Do pret
1,000
254 J’nejii
3,600 American Locomotive
29
J’ly 26
Do pret
1,010
a
1024 Aug 0
400 American Malt Corp
4
Oct 1
Do pret
200
284 J'ne .io
200 Amer Smelters Sec pret B
82
J’ly 23
48,820 Amer Smelting A Refining
61% J’ly 2u
Do pret
1,261
984 J’ly 26
American Snuff
277
Apr 4
Do pref
‘”166
054 Jau 13
1,200 Amer Steel Found (new)
38 J’ly 26
10,000 American Sugar Refining 111% Oct
Do pref
200
112 Oct
4,255 American Tetepb A Teieg 126*4 J’ly 26
400 American Tobac (new)
,p? 904 J’ly 36
2,100 American Woolen
25% J’ly 6
Do pret......
800
siigJ iy 5
5,500 iAnacondaCopper Par$25 $334 J’ly 26
304
29*4
*17
100
3
314
937g
514
pret
American Express
Jan
12% Feb
814 Jan
72% Jan 3
120 Mch 9
62% J’ly 26
Highest
190
Jan lo
Jan lo
474 Jan lu
964 J’ne 16
J nesu
510 American Hide A Leathet
Do pret
400
64
17
4234
847g
854
10034
924
*2
324
118
138
95
304
*944
54
17
97
*34
*90
44
Jan
Jan
64% Jan
90% Jan
094 Apr
24
J’ly 26
89
J’ly 27
6% J ne jo
62
J’ly 26
394 J’ly 26
109
Lowest
40
103
.
1014
150*4 1524
77g
8
99
99*4
121
$54
174
124
*27g
54
34
99
*158"
75*4
*210
*100
*43
56
584
1144 *105 1144
1144 *1054 1144
334 344
344 35
344 35%
35% 36
1384 13834 138 1384 §13534 137
134
1354
*85
*122
*45
664
994]
122
5W
1624 1624
694 704
1174 118
474 49
59
594
125
55
694 69%
1014 1014
304
954
147*4 1524
77g
8
9S% 99
8
*105
*71
70*4
117*4
4734 484
59
594
694
165
25
37
694
1234
694
344
*64
84
*154 25
36*8 37
1094 1094
117
48
*92
57
*99
*67
694
74
*6l*>
*154
364
71
64*4
16
58
108
324
87
674
31*4
314
4378
434 454
434
1074 1074 107% 107% *107
914 924 *92
93
*92
174 174 *17
174 *164
*684 694
684 69
684
34% 344
334 334
33%
96
164
3
*278
337g
33*4
*85
9
*8
59
*54
10212] *100
687g 694
1167g 117
47
99
324
1144 *105
*164 25
♦36
364
*1084 109
*68
5*8
344
34
*90
324 331?
136*4 136%
*80
*8
•54
•100
*103
*15
*51
3
*86
J'ney-a >-/0
27
15
74 J’lF
27
Aug 5
554 J’ly 13
35
J'ly 26
__
5
33
43
17
*95
*162
*2
54
1484
314
434
1074 1074
904 904
*684
344
944
64
294
53*4
53*4 554
1054 ♦1034 104
20
20*8
204
•
117
1374 137*8
*60
87
77
*65
12
33*4
*304
Highest
.
184
*4
684 694
1014 1014
.
23
36*4 384
1034 1034
82
87
*94
64
30
25
59
*82
*21
18
12
*31
5
94
4*4
304
954
404 s394 40
40
404
28
*27
284 *26
700
284
597g
684 584
600
58% 58%
136 *1334 135 *1334 135
100
12
IU2I *11
545
114 114
30
30
30
*294 30
200
351g
344 344
344 35
11.000
1054 *1044 1054 *1044 105
605
334
324 327g
33
33
4.800
64
*54
7
800
*5*2
7
133*4 1324 133*4 1324 1344 18.000
16
154 164
154 15%
2.400
77
76
*754 774
200
764
*50
40
17
694
344
954
1634
*2
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94
31*8
18
694
3334
054
163
3l7g|
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69
34
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270
*44
23
304
95
*
77
69
32
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44
1834
12*4
3334
384 384
103
1044
30
945s
394
*57
30
87
764
68*4
324
374 3712? 374 414
•107
108
1074 107*8
*87
91
*874 91
*16
69
34
65
270
*112
1374 138
944
"
90
48
1144
*240
*93
S3
*103
300
*112
84
*80
48
1014 1014 *100 1014
43
434 *43
434
115*4 117
115*4 117
1464 1484 147
8
74
84
778
8
99
984 991
994
984
*121
121*4 12134 121*4 *120 122 *120
*5
54
54
5*8
*44
54
*44
*17
171;
17
174 174 *174 1734
12
12
124 124
124 124
12*8
51
611; $514 514
514 514 x5l
414 414
42
414 424
424 42*4
83*4 837gJ 844 844
844 844 *84
1004 1004 1004 1004 1004 1004 100
92
92
92
92
92
914 92
$75
75
754 754
754 764 $76
111
110
11CF4 1114 *1094 112
1214 *120 122 *12034 124 *12034
*14
15
15
15
164 164
164
84
984
384
*924
84
684
*11
*31
35
87
28% *27
594 *57
*1344 136 *1344
$12
12
114
*294 30
*29*2
34
344 35
105
105
$10514
324 327g
324
5
6
64
1334 1344 1321g
157g 16
15*4
*75
774 *754
33
54
>249
.
_
1144
654
4*8
*20*4
*184
19
*240
401^
404
135
*235
44
214
68% 704
1024 1024
94
28
59
587s
*114 124
*284 30
344 354
104*4 104*4
5
120
94
28
270
*30
*86
1374 1377g
934 94
294 30
294
94%
404
274
584
584
135
*112
94
284
944
28
*284
115
1377g 138
40
65
334
384
*240
—
♦92
48
65
21
105
112
84
684
Express
LXXXXI.
Range for Previous
Year (1909
On basis of 100-share lo.s
Lowest
Adams
46
*100
[VOL.
Range Si ace January 1
YORK*
NEW
STOCK
EXCHANGE
lils-Chaimers
104 4,100
Do pret
1,675
3484
66*4 116,100 \maigamated Copper —
\mer
3,750
464
Agricultural Chem.
Do pret
1034
—
384 12,850 American beet Sugar
I
Do pret
200
944
1,500 American Can
84
Do pret
700
6834
3,000 American Car A Foundry
487s
Do pref
230
1144
a
4,600 American Cotton OH
654
9*4
334
664
384
944
84
6884
1144 *114
44
33*4
*1014 105
424 424 *424 434
llUg 116
115
117*8
42
3734
♦92
69
49
*235
44
21
184
_
300
45
*102
3878
94*4
84
63*4
384 394
*1024 104
4
4
44 *44
*31
32
30*2 304
30*4 30*4
867*
*864 87
86*4 8634
8678)
67
6712
674 684
684 6934
*10U2 10212 1014 1017g 1017g 102
♦240
42
*250
9%
34%
6578
464
344
644
12*4
334
*38
384
104
104
*10378 1064
44
44
44
44
34
104
♦1014 105
110
484
260
44
207g
184
3814
$104
Shares.
934
657g
454
*114
634
Oct. 7.
344
69
114
*235
2034
1834
124
32
84
687g
48%
Oct. 6.
10
37*4
*924
84
93
84
687S
418
18
394
Friday
*250
94
324
644
444
*102
93
Thursday
Sales ot
the
Week
Do
270
44
20*4
12
32
*30
*250
94
34
384
63
Oct. 5.
34
*102
944 *914
84
84
69
68%
48
*250
9
9
35
39%j
941*
84
♦6812
47%
Wednesday
Oct. 4.
<250
9
*84
♦8i4
♦29
35
♦29
64
66
64%
441* 441*
♦4414
♦90
110 *102
39
38%
AND LOWEST SALE tRICES.
Tuesday
Oct. 3.
Record—Concluded—Page 2
20 0
500
295
165
300
Ua
3’l’d"
175
315
125
100
rights, d Now quoted dollars per share,
(U) are State banks.
*
O
4#
BONDS
N. Y. STOCK EXCHANGE
Week enijino oct 7
■’O
/ciyib
^1313
U.J
u-J
G-P
Vj-F
O.
Foreign Government
Argentine—Internal 5s of 1909
Imperial Japanese Governin'!
Sterling loan 4 4s
1926
2d senes 41as.
i'-'25
Sterling loan 4s
1981
Repub ol Cuba os exten debt..
San Paalo (Brasil) trust 6s 1919
D Sol Mexico s l g 6s ol 1899
Gold 4s Of 1904
1904
BONDS
Range
January 2
IT
U-F
3-F
3-n
•
•••
....
100*1014 100* Aug’10
074 97
97
M-S t
Sep *10
944
94*
94* Sals
93*
03* 944 03*
894 80* 89 4 Sep ’10
103
103 Sale 103
J-J [97
87 4 97 Sep ’10
974
07 * 074 074
(J-J
J-D
04* Sep *10
04*
tr best are pr ices 0 n the b
t
\
J-J \
M-S \
Stock....1957
M-N
M-N
M-N
M-N
M-N
M-N
M-N
N Y State—Canal Impt 48.1900 J.J
So Carolina 4*aa 20-4u
193;> j.j
Tenn new settlement 3s.. 1913 J-J
Virginia tuna dent 2-8s...l99i J-J
6s deferred Brown Bros etts.
1014 Sale
094 **le
26
21
....
0
06
104
sale
84* 88
44
40
• ••*
974
064
09*
944 974
0/ $5 to £.
arts
99 4 sale
00*
1U84
1084108* 108
102 * 108
1024 Sep *10
108 4 Hale 108
1084
103 Sep’10
1024 108
094
804 sale
0O1*
104* 1047, 1047, 105
......
1196
mmmb
99 4
994
084
94
934
964
057,
884 02 4
6 1014104
1014
1014
05* 97
....
F-A
J-J
City Securities
N Y City—44*
I960
4% Corporate Stock
1969
4% Corporate estock ....1958
1967
New 4 4»
..
1917
New 44»
44% Corporate Stook ..1967
44% assessmt bonus.... 1917
100* 100*
....
197 J00
CUatt iuy pur mou g
Mao A Nor DlV 1st g
Mid Ga A AU Dry 6a
103 4 J’ly'io
06
06
BO7, Jan’10
46 Sep ’10
102 4 103 4
•••
89
1054 110
1024 1034
5. 964 1004
....
6 1014 105
10341034
....
10
•
•
.
94*
Registered...
1992
Oonv ertioie 4 4a (wh la). 1930
Big &>andy 1st 4s ........1944
Coal Riy Ry 1st gn 4a ..1945
Craig Valley 1st g 6s.... 1940
Potts Creek Br 1st 4s.. 1940
8a a Dnr 1st oon g 4s.. 1989
2d consol a 4s.
1989
Warm Spr Vai 1st g 6s..1941
Greenbrier Ry, lstgu g 4s *40
Chic A Ait RR ref g 3s...1949
06
40
66
1
4
tie*Coast
■
Alabama
laba Midi
Cent
me* AX
So ttyBine
4fh»iiy & Susa
nee Bei do
Allegheny Valley bee
Penn Bit
Alieg A West bee Bun B A P
Ann Arbor 1st g 4s
A1996 (J-J
AtOil T A S Fe—Geu g 4S. 1995 A-O
.1996
Registered
Adjustment
g 48
Stamped...
Gonv 4s issue of
Conv g 4s
Conr 4s (full pd
A-O
Nov
Nov
hi 885
1909...1955
........1966
roots).. 1960
Id 17
10-year oouv g 6s
Debentures 4s Series J.lol2
Series K
1913
East Okla Biv 1st g 4s.. 1928
Short Bine 1st 4s g
.196»
6 Fe Pres A PU 1st g 68.1942
Att Knox A N bee LAN
Atlantic Coast 1st a 4S.A1952
Ala Mid 1st gu gold 6s ..1928
firuns <te W 1st gn g 4s
Charles & Say 1st g 7a..
LAN coll g 4s
01952
M-N
J-D
J-D
J-D
J-D
F-A
F-A
MS
J-J
M-S
M-S
M-N
j.j
J.J
M-N
A-O
.1934 A-O
J-J
1st gold 6s....
Atlantic A l>anv see South By
Anottn&NW bee Sou Ps
J-J
Tjalt A Ohio pnor 1 g 3 4s.
o-J
D Registered
ti
A-O
Bold 4s
It
(J-J
Registered
...A
Southw
J -J
M-N
M-N
J-J
U-J
M-S
A-O
F-A
J-D
A-O
A-O
Dry 1st g 84s...
....../)
Registered
Oen Ohio R 1st og44s..
01 Bor A W oon 1st g 6s
Mouou Riv 1st gu g 6s..
09* Sale
.i,
*•••
1 UK'
964 Sale
106*4
......
HA
128
08
127
112
119*
1104
85
05
Nov’06
Jan *lh
102 4 1034 1«2
123 4124 1123
Sep’10
106*
j-j
S3
100
J-J
104* 104
M-N
M-N
M-8
M-6
F-A
sale
M-8
M-N
A-O
112
98
1044
Registered....
0
92
*...|
....
....
112
• •••
06
814 Oct *09
80 4 Sale" 03*
90*
904 96* J’ly’io
ll 14
120
Oct ’Ol
67*
bt*
87* Sale
82
92 4 824
924
914
81
014 01
804 Apr’lo
85 4
103
Mar’io
112
07 4
26
90
52
9741004
96
997fe
93
A
45
16i
....
......
112
Aug’lO
•
•••
93
92*
894 904
103
103
110
113 4
89
89
4
110*
1094
96
80
112
Nov’00
li94 Mar’04
984 Sep’09
100
Nov*04
• ••«
••«•••
••••••
M-8
M-N
A-O
107
107
1167, ll64J’ly’10
100
sale
J-J
1144
1)44118
109
105
100
103
116
J’ly’io,.... 105
6
86
100
JTy’08....
109 4
100
J’ne’lO....
117
J-J
M-S
M-S
108* 1044 103*
1004101 w 1014
Kina.
1*16
1921 A-O
1037,
101*
:
1917 J-J
1988 j - J
1988 J-J
1934 A-O
cou trust Senes J 4S....1912
M »s
1916
N 4s
1910
O 4s
1917
P 48
1918
Clue R 1 A Pac RR 4S..2002
.
6 102 4 105*
8 100*101*
May’07
Registered
Refunding g 4s
•
1
.
Registered
Bur C R A N— 1st g
Registered
F-A
> M-N
> M-N
j Oct
Stamped
>
1
)
uct
....
Oct
1124 J’ne’K
109
107* 1077,
7 (103*100
113 'Apr’Ob....
01*
804
81* IS 82
004
004
90 4
1 ! 84
87*
75
86 4 88
874
874 10
b7 4
87 41
87
86 4 87>t
4 76
lo
88 4 Sale
834
84
78
86
83
86
844
84 4 20 80
107* 108
......
108
91* Sale
904 91S
,
95
77
76
illl
084 100
1004'
98
-ip?* "wr*.
..J
100 4 102 4
771 97
100
100* L02
81
8§4
121 127
...
6
...
HI
May’00
6
108*113
U°4
1
1104112
1104
..•••«
88
87*
86* Sale I 864
86* 64 84
12441204
1244 126 4 124 4 SeP *19
107
114
u«c’u9|
100
1004
91 1100 J’ne’10
01* 93 I 04 Apr’10.;;;; 034 04
...
......
1034
1004
103
101*1064103 J’ne’10.
09 4Sale * 994
wy4 64 98
...
103 4
884
88
93 4 Sait
83
| 93
106 7,
io7 4
1084
108 4
107 4107*107 4
Oct '08
”2
bS
93* 10
.
Mar’io I
iU*4
104 4
M-N
M-N
M-N
M-N
M-N
M-N
2002 M N
68.1934 A-O
1934 A-O
Cousoi gold os.........1952 M-N
Keck A DesM 1st 6s. ...1923 A-O
Jhio st u A N O
bee 1U cent
Jhio st B A Pitts
bee Penn Co
Jhio St P M A U oon Os... 1930 J-D
Cons Os reduced to 34a.io3o J-B
1
1
1024 108*
i*6* lib*
Aug’lul.... 104*106
..
10&* Aug’10
..
lOo*
..
May’10
103* Aug 10
1064 108
100* 100*
103*1064
..
lluT, 118
Aug’10..
11041107,111
06*51101
ion
J’ne 10
j
:
054
95 4*' *>'*10 ..
80 4
W9*! 65 87
99 **
04
..
89* Sale i
I
Ill
034Api’o9;.
1114 Aov’o9!....
105*1074 lOf J’ly'lO!....
105 *,
Mar'lbl....
10b
......1074 107 May’10... .
10b 4 t eu io|....
1114100 sep’10!..,.
liu
109
J ty *obj.
1,4* J’U’iO
112* Mar’10
142 4 seb’02
114*
109
117*
.
...
.
...
105
lo6
106
1084
109
1064 111
07 S date
974
oa
94
04
jan
......
1114116
100
76* 804
11341144
108
Apr’10.... 106
104
May’10.... 104 104
Mar’10
108 110
Feb’iu^.... 1034104
t04
,
86
......
664
106
!lo8
125*126
044 944
....
l20 4Mat*03
104
li'd
92
86
Aug’O0
75 4 242
...
103
;125*
>
03
'
98*
08*
;
75
76* May’lo,....
113 *a -na, ’10!
Sale
100
lo8
109
944 00
100
074 974
*10!....! 944 944
Bee’09
93 4
•••«••
1094112
i 60
U44May'lu
95
1064
1114
••••••
B„
yg* Feb’fO'....
904
90* lo7
97 4J’ly;ioj....|
bait
l°94
106
107'
11441174
112* 112*
123 4 Apr’00
103 4 w»> ’O0j
llu
110 I 3
100
Aug’io....
117*
100
109 4
76
954
00
H0*SeP’1ol..„ i 10* ill*
1104
0*0 *
1004
100
May’10..
Nov'OO
100
100
103*
‘jgc
914 93*
1074 108
107
1104
106*108*
J’ly'io)....
102*
116* May’10
1044
105*
*86*
.
107 4
102 4
116
OR IF AN W lstgu os.1921 A-O
M A St B 1st gu g 7s.. 1927 J-J)
Ohoo Ok A G gen g 6s .olol8 J -J
1124U84
....
1004
1933 M-N
1933 M-N
Os 1921 M-S
General gold 4s
Registered.
....
Bate
>114
MU B S A West 1st g
Ext A imp sfund g 5s 1929 F -A
Ashland Biy 1st g Os..1925 M-8
Mich Biv 1st g Os
1924 J - J
incomes
....1911 M-N
Chio Rock isl A Pac 0S...1917 J - J
1164116*
72
Mar’10.... 72
11641)6* H64 Sep ’10
72
113*110 4
....
111
...1886-1926 F-A
1987 M-N
gold 34s
1921 A-O
09
03
984 100*
10141014 1014 Sep *10
974 09 I 97*
97 7a
100*
JlOO* J’ly'io
83
83
83* 83
124 4 1274 121 J’ly’10
J-D
J-D
u-F
F-A
Registered.
Sinking fond deb 6s
054
89
854
1044
874
......j 07*May*U>
07
J-J
j. J
J. J
j. j
j.j
j.j
j. j
j.j
Debenture 6s
1017,
987, 100
86 4 8J4
11
1014 Mar’00
Registered.
1879-1929 a-O
Sinking fund 6s...l879-l929 a-O
Registered.
1879-1929 a-O
....
«•••
09 4
Registered
.j?i0s7 o-F
Sinking fund 6s...1879-1929 A-O
_
76
Oct ’00
994 Sep lu
80
8b 7.
88 Sep ’10
88* 894
877#
loo* too*
100* 101
1044
108 4 Oct *09
99*100 I 99
994
90*
I 90* 99*
Registered
.....
1034
.
.1934 j-j
BbuBiy g os....1921 j.j
General
00
102* 35!
102
1064
......
25-yr deoen 4s
1057, Feb’OV j....
112 Deo’09
101*
1(G
110
87* 894
lof4
102
1104114*
112 4112 4
1017,
101* J’ne’io
034
*’3* 423 89
984
87
80
Apr’10
894
83
83 4 87 4 85 4<f’ue’10
194
104 4 Sep *10
102
00
Jau’00
81
90
04 4
05* 98* 94 4 Aug* 10
90 4
91
Sep '10
89
03
*1074100 1134 heu’05
87 4
05
95
90
70
72 Sep ’10
72
77
72
72 4 12 684
724 73
..1937 M-N
Chic A
Ohio A MO Riy BlV 68...1920
Chic A P W 1st g 6s
1921
Dak A Gt So g 5s
1916
Ear A Sou assu g Os
1924
EaCrosee A D 1st 6S....1919
Mineral Point Biv 6s.... 1910
So Minn Biv 1st Os
1910
Wis A Minn Biy g 6s.. ..1921
MU A No 1st M B Os....1910
1st oonsoi Os
1913
Ohio ANortnweous7a....i916
Extension 4s
1880-1926
1004
101
os...lua/l j
Refunding gold 6s.......1947 J. j
BouisyN A A Ch 1st Os. 1910 j-j
Ohio Ind A Sou 60-yr 4s..l956 J. j
Uiuo Mu a SIP term g 6s 1914 j.j
General g 4s series A..*1989 j. j
*1989 o - J
Registered.
Generalg 34s series B.*1009 J.J
95 4
89
100
rx2
1134 ll24Jau’10
Cuic in A i^oinsv ret
06*
88
Sep '10
112
1024 W*l«
Ohio a inu C Ry 1st os. 1936 j-j
Chicago A Erie
bee Erie
Clue Gt Western 1st 4a...1959 M-B
....
68
92*
Sale
122*
984
974
7. 82
04*
i
10741084
--j
93 4 94
J’ne’O0
Mar’10
J’iy’io
117
65
87 4 Sep’10
874 89
A-O
J-D
J-J
103
05
Q-F
J-J
J-J
J-J
110
102
15 120
1234
...
M-N
J-D
..J 110
1254
1204126
1224 1254 1224*«P M6
106
1084 109 Sep ’10 ..J107 109
9b* -100 4 Sep’10
1004 1014
100 4 ....
100
100
1004
May’10
Registered....
1949 J-J
ills BlV 4s
1949 J-J
iowa Biv sink fund 5s..1919 A-O
1919 A-O
making fund 4a
Nebraska Extension 4s.192y M-N
Registered
.....1927 M-N
Southwestern Biy 4«....i92i M-S
J oint bonds bee Great N orth
Bebenture 6s
1913 M-N
General 4s.
1958 M-8
Han A st Jos oonsoi 6a..1011 m-8
Clue A E ill ref As imp g 4s 1966 j.j
1st consol g Os
1934 A-O
General oonsoi 1st 6s.... 1937 M-N
'
>
6s.
*02*
Sale
04*
984
07
• ••a
....
r
Registered....
191
Carb a Sliawu bee ill Cent
Carolina Cent bee Seab Air B
Carthage A Ad bee n i c &
OedRiaPAN bee BC BA.
Can Branch By bee Mo Pac
Su prei income g
964_ OO1*
Sep’08
P64 J’ue’09
100
100
95
92
122*
9H* ygv,
■
191
1st pret income g 5s.
••a
•
98* Feb’10
944...... 07 Apr’10
93 4 94* 034
064
1084 1004 1074 J’ly'io
F-A
191
Os
J’ne’lo
98* Jan ’10
J-D
J-J
Butt A Susq 1st ret g 4s.al95
Bur CRAN bee O R 1 A P
Ottd 5s.......
116
110
103
n
Railway 1st lien 34s...i960 J-J
f Registered....*
I960 J-J
Ohio sun A y—Deny B 4s 1922 F-A
Illinois BiV 34s
...1949 J-J
Registered
Rooh A Pitts 1st g Os...
{i&n so 1st ext
834
974 101
•
J-B
Bklyn A Moutauk bee Bong J
Bruns A West bee At! coast 1
Buffalo N Y A Ena bee Brie
Buffalo R A P gan g 6s...103'
/Iatianl i Ua
74
98
2
83
y24
924 824
02
92
Jan ’10
89
82 4 93
924 27,
92*
105
Sale 105
Apr’10 ■14) 105
104 4 1064 106
1064 183 100
6 98
102* bate 102* 102*
03 104*
108
109
lo»4 H°
98
97*
924
J-J
8tat isl Ry 1st gug 44s 194i
Beech Creek bee N i' UAH
Bailey A Car bee Illinois Cen
1
l8.
907,
78
99*
79
78
High Ao Low JiigK
9o* Sep *09
1047, J’ne 08
103*
*
Railroad
,.
Registered.
1989
gold 44s........1992
General
004 flo*
»
mmm
•
Registered
&1987
Am Book A imp gn 6s.. 1921
bince
January 1
Last bale
B1
86
J-D
Range
Range or
A sic Low
Rid.
,
6s. 1940 J-J
Be A Bud R gen gn g 5s 1920
Beh A Wilks B Coal 6s..1912
Con ext guar 44s....pl9lo
N Y A Bong Br gen g 4s 1941
Cent Pacilio
bee So Paoitio Co
Cent Vermont 1st ga g 4s.*1920
Chas A oav bee Ati Coast Bine
Ches A Ohio gold Os
alo 11
Gen funding A impt 6s. 1929
1st oousoi g 5s
.....1939
9<* 100*
28 964 100 4
15 106 41007,
•
.
4S.1951
1947 J-J
Mobile BIT 1st g 6s.....1946 J-J
Cen BB A Bot Ga ool g 6s 1937 M-N
Cent ot N J gen’igolu 6s.1987 J-J
101*
145
XVJCV—I V/Vrt/
OU.ii U1
Week?*
Price
Friday
Oct 7
.
N. Y. STOOK EXCHANGE
Week endinq Oct 7
Since
ll
Range or
Lott Sale
JUvgh 2io Low High
Aek Low
1004 1014
100* 1014 101 Aug’10
1004 lot *
100* 1014 100* J’ue’10
101* 102*
101* 102* 1024 J’ne’10
1014 103
101* 102 4 102 Sep’10
1024 1024
*%•••• ...... 1014 J’ly’10
114* U54
114* 116* 114 4 Aug’10
1144115*
115
1154 115 4 Sep ’10
State and
4% Corporate
I'd
Week4
Price
iriday
Oct 7
Bid
U. ». Government
S 2a consul registered.cil930
S 2s consol coupon....al93u
S 3s registered
S 3s ooupon
S 3s con small bonds..kl01*
S 4s registered..........192o
8 48 coupon
.*fyS5
SPan Can 10-80 yr 2s.fci03o
Yearly
Stock Exchange—Bond Record, Friday, Weekly and
New York
\
....
125*
l 123
1274
Beo’03
iU13CELLANE(MJ3 BOMfs-Contlnued on Next Page.
Street Railway
Brooklyn Rap Tr g 5s
1st refund oonv g
1945 .10
4s....2002 J-J
BkCity 1st cou 5s.1916.1941
Bk<j Co A Soon gug 68.1041
Bklyn Un El 1st g 4-6s.l05o
Stamped gnar 4-5s....l950
Kings Co El 1st g 4s
1040
Stamped guar 4s w
1040
N assan Elee gn g 4s ....1961
Conn RyA BlstAref g44s*51
Stamped gnar 44s ......1961
Det United 1st con g 44a. 1932
Havaua Kleo oonsoi g 6s. 1952
Inter-Met ooU 4 4s
...1036
Inter Rap T 3-yr oonv 6s. 1011
45-year 5s Series A
1062
Internat Trao coil tr 4s.. 1049
Manila Elec 1st A coU 6s. 1953
•No
J-J
Vl-N
f-a
F-A
F-A
F-A
JJ
J-J
J-J
J-J
FA
A-O
M-N
M-N
J-J
A. 6
prloe Friday; latest this week.
105
102 104
Sep *10
834 Sait
834
83*
101
1014
4 J’ly’io
99
004 Mar*09
•
101* 105
64 79* 87
1014104
•••
••••••
•
......
1014102* 102* 102* 12 09 103
1 90*103
1014103
1024 1024
84
86
83
84* Apr’10
i 80
864
82
824 814
814
82
76
78 4 Sep *10
764 80
4
IO84102
1024 Mar’io
102
1004 102
1004
101* Aug’10
80
82*
80
804 80 J’ly’10
04 Apr’10
04*
81* Sale
814
817, 168
Sale 102
102
102* 90 100 4104
101* 8alt 101* 1017, 47 100 1034
674 67 4
67 4Msr*lo
>•••••
08 May’06
.....a
r
-
,«,
......
......
??
•■•••••
•
•• •
*•••
11 Flat. aDueJan
Ik
Street Railway
Met St Ry gen ool tr g 5a.l997 F-A
Ref g 4s....
.2002 A-O
Bway A 7th At lstegda 1043 J-D
COiA 0Ul AVlstgu g 68.1003 d-S
Bex AV A P F 1st gu g 6a 1998 M-8
Third Are RR con gu 4s 2000 j.j
••A
Cent Tr Oo eertfs stmpd...
Third Are Ry 1st g 6s..l937 J-J
N on Ry A Lt gen 44s ..1035 4 - J
St Jos Ry Bt H A P 1st g 6s ’37 M-N
-a Paul City Cab oon g os. 1937 J-J
Tri-City Ry A Bt 1st s 16s.l9 J3 A-O
o nderground of Lon 6s...l02u M-N
......
d Due Apr
......
e Due May
• •*•••
63
•
1033 J-J
44s
Income 6s.
g Due
107
97
*87* *88*
87 4 88
,
....
80
864 87
J’ne EDueJ’ly fcDue Aug oDaeOft
664
§4
96 <102
964 99 -6
604 694
56
08*
1064106*
84* 67
Nov’08
107* Deo’09
964
964
08
Apr’o0
87*.
88
88
84
80
824
984102
604 top’ll)
Salt
5^4
(>44 770
6
107
107 4 l o7
864 817,
yl*
103*108*
86
46
*«»««>•
98
....1948
Union Ei (Ohio) 1st g 6s..1046 A
United Rys St B 1st g 48.1934 J
United RBs San Frs f 4s. 1027 A-O
74*
80
74* Sep *10
48 4 48* Sep’10
100
lu2 4 100
Sep’lu
96
J’ly’10
87* 100
07
06
88*
Apr *10
88
Oct *08
Aug’l
bb*
00r*«r
50
16
68
814
.....
T
mrn'dimm
7?4 88
66
p Dae Not s Option
930
New York Bond
BONDS
N. T. STOCK EXCHANGE
Week Enhino oct 7
Ohio StPM&
0-<con)
Oh 8t P A Minn
lstg 6s 1918
Nor Wisconsin 1st
6s...1980
_St P A 8 City 1st ft 6s...1919
OhioA West Ind
sreng0sal932
Consol 50-year 4s
1952
Ohio* W Mien
Choc O A Gulf
Frtoe
L
Frida«
Oct 7
Bui
M-N 122
122
J-J
A-O
Q-M
J. J
-
WeeKfe
Range
or
Loti Sale
jlsO Lou
bte*
PereMarq
See C R I & P
BONDS
N. Y. STOCK EXCHANGE
Range
Since
JanuaryJ
Week evdinu oct 7
HigH WO Lou High
Big)
123
J’ly’10
127
128
127 *_.12P*May’09
112
11 i34 Aug’10
107*112 108 Hi J’ly’10
917S 93*
2
Record—Continued—Page
92*8ep’lQ
III** 114*
108*9112
88
93*4
[Vql.
2
lxxxxi.
•e
«S-S
Price
*3
Friday
fivA Ind lstoon
gug6s..l926 J-J
Erie A Pitts See
Penn Oo
Evans A X H 1st
cons
1st general cold 6s 6S.1921
1942
Mli Vernon 1st edd
Soil Co Branch 1st 6a..1923
g 6s.l930
L'argoASo See ChM A St P
r imt A Pere M
See Pere Mar
FlaCAPenm Mm Sea Air Line
Fort St U D Co 1st
g 4*8.1941
Ft
Oct 7
Bid
106*
109
101
*
Week’s
Range
Ask Low
114
116
or
Last Sale
Sign Bo
Range
1
Since
115
Deo’09
'Low
Stan
*"iioi" ioa*
J’ne’08
Oln H A D 2d gold 4
His...1937 J-J
113 Oct '00
Cln DAI
1stjru g 6s...l941 M-N 105 106 106
105
101
108
O Find A Ft W1 et
gu 4s g.*28 M-N
Cln 1 A W 1st tni «
4s.1953
J-J
86
86*
89
86
86*9
92
85
Aug’10
87*
Ind Dec A W 1st
88* 92
WARloGr lstg4s_1928
102 104
g 6a...1935 J
102 Sep *10
......
87
84
Sep ’10
84
101*4
107
87
1st guar gold 5s
<
1935
J
'
af
ASA
So Fac Co
Bar
See
107
*9
Deo
’02
0 I8t LAC See C C
C A St L
A H of 18821st 68.1913 A-0
95* 99
97
J’ly’09
Oln SAC 6MCCCStL
Georgia A Ala See sea A Line
Ga Car A Nor See
Olearneld A Mah See B RAP
sea A Line
Olev Cm CA8tL gen k 4s
Georgia Pacifto See So Ky
1993
94* 94*4 95
95
90* 96* Gila VGA Nor
Cairo Dir 1st gold
See So Pao Co
94* 94*9 Aug’09
Oln W A M Dit 1st48....1939,
Gouv A Oawegat SeeX
‘so*
g 48.19911J • J
91
YCent
Sep '10
90
94 *s Grand
St L Dir 1st ool tr
94
A
Rap
Ind
4s..
95
g
1990 M-N
RR
94*9 Sep '10
89* 96* Gray’s Ft Term NesPenu
Registered
1990 M-N
See St L 8 W
91
Get ’07
Gt
Spr A Col Div 1st g 4s..1940 M-8
Nor—CBAQcoUtr4s
Dec *09
1921 J-J
iob*
96
96* Sale
199 94* 97*
96*
97
W W Val Div
*
90
Registered. S
1stg4s...1940 J-J
90 May’10
1921
97
90
96*
90
9tt* 35 94* 96*
0 1 8t L A C consol 6S..1920
St
Paul
M
A
Man 4s.... 1933
M-N 104*....
98*
100
99
105i.
Feb’10
105*4
Sep’10
98
105*
100
1st gold 4s
1st oonsoi gold 6s
97
lei936 Q-F
1933 J-J
124* 127* 125* J’lylO
96*9 Aog’10
96* 98*
125*128*
Registered
Registered
97
*1936 Q-F
96 Aug 10
1933 J-J
132
96
98
Apr’09
Oln S A Cl con 1st
Reduced to gold 4 *s 1033 j.j 106
Iu3
g 5s. .1928| J-J
109* aep *09
106* 1U6*
3 103* 107*
00 6 A 1 consol7s
Registered...-.
19141 J-D I06*.... 109*4 Dec’06
1033 J-J
lU8*.J’ne’09
Consol sink Iund7s....l914' J-D 103
Dakota ext gold 6s....1916 M-N| 100
100*
Sep’lo
Mont ext 1st gold
General consol gold 6S.19341 J - J 121
100*101*
125
98
119 Aug’lu
4s.. 1937 J-D
98
98
110
119
Aug’10
98
100*
Registered
Registered
1934 J-J
1937 J-D
100 * Del '06
B
IndBlA W 1st pret 48.1940 A-0
96
A-O
MmnNorDivlstg4sl948
*
94“j*Iy’o8
99* Jan’lu
O Ind A W 1st pi 5a...<11938
Minn Union
99*
99*
J-J 113*
Q-J
114* Feb ’10
113
Peo A East 1st eon 4s...1940, A-0
Ment C 1st Istg6s..l922 J-J
114*
81* 93
92" Sep ’Vu
gu
g
6S....1937
125
126*127*
89
Ang’10
125
94*
129
Income 4s
Registered.
64* Sale
1990
54
1937 J-J
64*9 13 68
136* Muj'06
67
Olev A Marietta See Penn RR Apr
1st guar gold 6a.....l937 J.J
il8* 110 J’ly’10
’lib"
dev A Pitts See Penn Co
Will A 8 F 1st
gold 5s 1938 J-D 112 ....
116 J’ne’ob
•••••• ••••••
Ool Midland 1st g
Greenbrier Ry See Ches A O
71 Sale
4s......1947 J-J
71
71* 28 65
81*
Gulf
A S11st ref A t
Odoradj a son 1st g4s...1929 F-A
96*4 96*4 95*4
g 6s 61952 J-J
89
89
6
96*
98
Apr'10
Beiund A ext 4 *s
97*
87* 94*
98 Sale
1935 M-N
97*
9e* 84 94* 99
SmCBAU
Ft W A Den C 1st g 6s..l 921 J -D 113 Sale
ouaatomo See
11 YN HA H
118
113
1 111*114
Odum A Greenv see So
Hock Val
Ry
latoonsolg4*s.l999 J-J 102*103* 102* 103* 50 99* 104
Ool A Hock Val see Hock
Registered
Val
1999 J-J
100* Sep’08
Ool A Tol See Hock Val
Ool A H V 1st ext
g
A-O *93*" ""
95* May’10
96" *91*
Ool Conn A Term see N A W
Col A Tol 1st ex 4s 4s..1948
92
1955
F-A
99* ueu’09
Oonn A Pas Riva 1st g 4a.l943 A-0
Mount E A W Tex See so
Fac
Cuba RR 1st 60-yr 5
Hoost A TexOen
g....l962 J-J
100 MaTlO
AesSoPaoCo
100 100
J-J
104 J’ne’10
A St P
104
1951 J-J
alias A Waco See MEAT
101*
Registered. 1st g 4s.. 1961
107*
Api ’07
Del Lack A Western—
lstgoiu 3*8
J-J
87*
1951
91
92
Aug, 10
90**
Moms A Essex 1st 7s...1914 M-N 108*
*9*r
Registered
1961 J-J
94
109*J*ne*10
Sep'09
109*111*
latoonsol guar 7s
Extended 1st g 3*a
1915 J-D 110*9
87"
A-0
112*« Sep’10
""I
112
93*
May’69
1951..
1st gdd 3s
114*
Registered
1916 J-D
127
J’ne’oo
sterling......1951 M-S
80
J’iy'09
1st ref gu g 3 4a
Coll Trust goiU
87
2000 J-D
94
99* Sole
4s.......1962 A-0
Sep *oo
99*
99*
99
N Y Lack A W 1st 6a...1921 J-J 116H
100* <
Registered
117
1952A-0
Sep
10
99
J’ne*09
113
117
1st ref 4s
Construction 5s
1923 F-A 107 *
1965
M-N
107*4
J’iy’10
98*
99
98*
98*
107* 110*
96
Term A improve 4a....l923 M-N
L N O A Tex
99*
9b»4 99*9 99 *4 Sep * 10
gdd 4s ...1953!M-N
99
98* Sep lo
97* 101
97 * 100* I
Warren 1st ref gu g 3 ‘as.2000 y.A
86
Registered
97
l02*Fei>’03
97*
1953jM-N
M»y’o7
Del A Hud 1st Pa Div 7s. 1917 MS Il6
Cairo Bridge gold 4s
120
120
I960! J -D
loo
rib" rib*
Apr’09
Registered
1917 M-8
149
Aug’Ol
J-J
84* 90*
b7* MariO
87* 88*;
Middle
10-yr oonv deb 4s
98*4 Sale
1916 J-D
102
Divreg&s
F-A
98*4
98*4
1921
123
16
Aiay’99
96*102
1st lien equip g 44s ....1922 J-J 100*9 101
Omaha Div 1st g
100*1
3s.....1961
M-A
Sep’10
100
77*
103
Mar’10
7*7
St Louis DivAterm
1st A ret 4s
99*4 Sale
1943 M-N
g 38.1961 J * J
98»*
99 >4 57 96*100*
79* l>eo'U8
Alb A Sus cony 3 *s
93 *9 bale
Registered
*
1946 A-O
94
93*9
...1961 J-J
9
91
97*
Rena A Saratoga 1st 7s. 1921 M-N 122*4
Gold 3 *s
*
123 *4 Sep *10
1961 J-J
87* 89
89
Feb’10
123*130*
Del Riv RR Bridge See Pa Rk
88* 89
Registered
...1961 J-J
101 * Oct ’99
Denv A R Gr 1st eon g 48.1936 J
96
Spring
Div
1st
96
95
95*
g3*a...l961
J-J
100
1
86*......
Nov’OO
92*
97*
Consol gold
Western Lines 1st g 4s..1951 F-A
103 *« 104* Max'! 0
4*38.........1936 J
90*
95
95
103*104*
95
Believ A Car 1st 6s
98
Improvement gold 6s...1928 J
97
101
101
1923 J-D *116
bep’iu
100
105
117* May’10
1st A retunding 5s
Garb
A Shaw 1st
117*117*
92* 92* 92*
.1955 F-A
M-S
93
93
g
4s...
1932
99
17 90* 94*
reo’10
99
Chic
Rio Gr J uno 1st gu g 68.1939 J -D
99
St
L
UA
A N O g 5s...1951 J-D 116
Feb’O^
116
Aug’iO
Rio Gr So 1st gold 4s. ..1940 J • J
114*119
Registered
79
78
Dec *09
1951 J-D 112
115
118
Mai 10
118
Guaranteed
Gold
118
3
*s
.......1940 J - J
J-D
85
Mar*08
1951
90
Gut
’09
Rio Gr West 1st g 4S....1939 J-J
92 * Sale
Mernph Div 1st g 4a...1961 J-D
92
92* 83 97* 94*
97*Mar’lu
St
97
L Sou 1st
% 97*
Mge and col trust 4sA.1949 A-O
83 *a 85
84
84
g 4s....1931 M-S
2
98 J’ly'u8
83
84* Ind B1A West gu
Utah Cent 1st go g 4s al917 A-O
See G C C a St L
97
Jan '02
Ind Ill A la 1st
Des Moi A Ft D See M A bt L
g 4s
94
96 May’10
I960,-J-J- 107
95
lnt A Great Nor 1st
DesMoi Un Ry 1st g6s..l917 M-N
93
110
g 6s.. 1919 M-N
Sep’04
108
107* bey *10
107 * 110*
Det A Mack 1st lien g 48.1995 J-D
94
94 Sep ’lu
110
94
May’10
Gold 48...
97*
Trust Co certfs
106* 112
90
1995 J -D
91
89
J’iy ’10
88
91
106* 106* 106*
3d gold 4s
lOu
Det SO—O S DIV 1st
74
112*
Sale
M-S
g 48.1941 M-8
74
74
17* 18* 18*
72
74
18*
Dai A iron Range 1st 5s.. 1937 A-O 108*
Iowa Central 1st ........1921 J-D
18* 35
gold
104
6s..1938
107* Aug’ 10
106
104 Sep lo
111
102
Gold
4s
Registered..'.
iuO*
1937 A-O
106 * Mai'Ob
....1951 M-8 ...... 73* 73*
2d 6s.....
73*
L at A A G R see L SAMS
6a* 7 / *
1916 J-J
Dal Short Line See 2X or Pao
AAtui a Mich See Td
ACC
Dai So Shore A AU
KOFtSAM See St L A S F
107 *9 Sale 10?
g 5s..1937 J-J
107 *
*
106*107* KCAMRAB See St D
(Vast of Minn seeatBMA M
A S F
JUast Ten Va A Ga see so
Ean c A Pacnio see
MEAT
Ry
Kan City Sou 1st
Elgin Jd A East Istg6s.l94i
m-n 107*
gold 3a..1950 A-0
113
Dec’09
73* Sale
73*
73*
ElmCortANo See UshAN Y
71* 74
Registered
i960 A-0
63
Oct 'oo
Erie 1st consol gdd 7s....1920 M-S 119
Ref A impt 5s
119
1950
A-O ibi* 1*02* 101* 101*
118* 122* Keutucxy cent Apr
NY A Ene 1st ext g 4s 1947 M-N 100* 120* 119
99*103
see LAN
J ne’10
100
10U
100
2d ext gold 5s
Eeok A Des Mo see C
1919 M-8 103
R IAP
106* Mar’10
luo*
106*
8d ext gold 4
Knoxville
A
Ohio see So Ry
*a........ 1923 M-8 100
103
Mar* 10
103
1U3*
4th ext gold 5s
1920 A-O 103*
106* J an ’10
106* 166*
g 6s..1937 J-J 110*.,... no* no*
5th ext gold 4s
2d gdd 6s
9/
1928 J -D
108*112*
1941 J-J
99* Feb’lu
107
99* 99*
106* Mar lo
North Ohio 1st
106 * 107 *
VNYLE AW ist g fd 78.1920 M-8
118
gag
5s..1945 A-O 105
124
Aug’09
111
109
Mar’10
Erie 1st con g 4s prior..1996
108* 112
LShoAMiohS see N Y Cent
fc6 *9 86*
J-J
bd*
86* 29 8U* 87* Leh
Vai N Y 1st gu
Registered
1996 J-J
85
81
Nov’09
g4*a.l940> J-J 105 107
1st oonsoi gen lien
105*
J’ne’10
166*
Registered..
108*
*75* Saxe 76* 76* 227 67"
g4sl99b J-J
1940 J. j
103*
107
Aug’09
Registered
Lehigh Vai (Pa) cons g 4a.2003 M-N
1990 J-J v
70
85*Feb’0/
96* iau
Len V Ter
96*
Pennoolitr g 4s
96*
96*
97*
1951 F-A
Ry
1st
86* 97* 97
gu g 68.1941 A-O 112*114
87
*"i 83* b7
114
J’ne’10
114 116*
60-year cony 4* A ....1968 A-o
Registered.
74* Sale
1941 A-O
73
75
64
254
83
*
113*
do
109*
Get
’99
Leh
V
Coai Co 1st gu
series B.1953 A-0
69 >4 70
g 6s. 1933 J -J
69*
70* 204 56
106*.... 103 Not’oO
Baft hi V A Erie 1st 7s.. 1916 J-D 109
73* Leh ANY 1st guar
g4s..1945 M-8
116* 113* Mar’10;
93
96
Ohio A Ene 1st gold 5s.. 1982 M-N
113*
113*
93* Mar’10
Registered
93* 96
liL*
1945
M-S
*10!
116
111*
Sep
115
Clev A Manou Vai g 5s. 193b J-J
El C A N 1st
115
pf 6s
1914 A-0 102
121
Dec ’08'
101* Fab’lo
Goiu guar 6s
Long Dock oonsoi g 6s.. 1936 A-O 122* 124*
101* 101*
1914 A-0 100
l24*Sep’10
120
127
Coal A RR 1st cur
Leh A Hud R see Cent ol N
101*dep’09
gu 68.1922 M-N
J
109* 114 Apr ’10
114
114
Dock A imp 1st cur 6s..l9l3 J Leh A Wilkesb see
J
cent ol N J
103* Oct ’09
N Y A Green l gu g 6s.l946 M-N iuo*
Leroy A caney Vai see Mo P
99
103* 103* Jan‘lu
NY Sus A W 1st ret
103*
103*
see
uong
Dock
Erie
os.1937 J-J
99*4 lu3
100*
90
loo*
2d gdd 4*as
104* uong isi’d—1st con
1937 F-A
g 6S.A1931 Q-J
100* Dec’06
112
109*
General gold 5s
1st oonsoi gold 4s
Feb’10
112
l94o F-A
112
85
/11931 U-J
89
89
J’ne’10
86
93
101
Terminal 1st gold 6s...1943 mi-N
General gold 4s
107*
1938
J-D
108*May’10
93*
97
108*
108*
Regis f6fU00 each...l943 M-N
96* Sep ’10!
93
berry gdd 4*s
97*
1922 m-8
98
Sale
WilkA Ea 1stgug58.1942 J-D
98
93
Gold 4S
97
98 102
100*
1932 J-D
101* Mar’10,... 101*101*
97
u uxned gold 4s
99*
Oct-’06
1949 M- S
93
96
93* Mar’10
Debenture gold 5s
93* 95
19341 J-D
104* Dec’081
iUlSCELlANEOUS BONDS—-Continued on Next
Page.
Gas and Electric Light
Atlanta G L Co 1st g 6s...l94?
Gas and Electric Light
J-D 100*
Bklyn U Gas 1st con g 5s.1945 rVI-h
105
NYGELHAPg 5s...1948 J-D 102 Sale 101* 102
106* 105
Buttalo Gas 1st ft 5s....... 194<
105*
i05
Purchase money g 4s...1949
10 99*103*
A-O
61
F-A
85
Columbus Gas 1st g 6s
60* Sep *10
Ed El ill 1st eons
60* 67
85* 85*
1932 J.J
85* 22 30
b7
g os..1995 J-J
Detroit City uoagus
110*
no*
N
Y
111*
192^ J.j
no*,
2 110
ACJE1
LAP
1st
con g 5sl93U F-A
100
101
111*
101
Det Gas Co con 1st
Apr’lu
ioi
101
N
Y
ioi
do
luo*
Mar’io
Rich
g 5s...191b F-A
Gas
1st
a
5s.
87
iwvl* 101*
1921 M-N
96* Sep’Ob
97 * J’ly ’09
Eq G LN ¥ 1st con g 5S..1931 .71-8 105
Pacific G A Elec Co Cal G A E
105 * Sep 'lu
Gas A Elec Berg Co c
(01* 105*
g 5s. 1949 J-D
corp
unifying
ref
5s
A
leg?
M-N
61 * uct *01
Gr Rap G L Co 1st
91* 91* 91*
Peo eras do v 1st con
91*
g 6a...1915 F-A
1
91
92
98
101
g 6s. 1943 A-O
100
Oct ’09
Hudson Co Gas 1st g os..1949
116*117* 116* Aug’10
M-N
102
116*119
Refunding
gold6s.......1947
M-S
102
Kan City (Mo) Gas 1st a 6s
102
Sep ’10
102
ioi*
1922 A-0
Sep
ioi*
1U
97
101*104
ChG-LACkclstgag6s 1937 J-J 102*104* 104*
97
Mar’io
Kings Co El L A P g os... 193? A-O
97
97
con G Co of Ch 1st gu g 5s.’36 J-D
Sep’10
102
102* 104*
101- Aug’10
101
Purchase money 6s
tOO
L02
101*
101
Ind Nat Gas A Oil
±99? A-O
Sep
’10
100* 102
113* 117
30-yr 5s ’36 M-N
Ed El 11 Bku lstoon
113* 1U
90
110*115
94* Aug'09
Mu Fuel Gas 1st gu g 6s. 194? >1-N
86* b3* 90 • Mar’10
Lac Gas L oi bt L 1st g 4s 1931- J.J
101
87* 90
Mai’lO
g 5s.el9l9 Vl-F
ioi"
Oo
conv
Philadelphia
&s
lo2
ioi”
..1919
F-A
Bet and ext 1st
102* Sep *10
100* 1U5
101* 100 Sep’10
g 5s
1934 A-O
99
Syracuse Lighting 1st g ds.’ol J-D
105
99
100
99*
1UU
Milwaukee Gas L 1st 4s..l9vP«
98
*6 99 101
98 Aug’Id
M-N
Trenton G A El 1st g 5s.. 1949 A- b
98
100
901, 91 Apr’10
Newark Con Gas g 5s.... 194b J-D
110
91
>Ytt7'05
Union Elec LAP 1stg6s. 1932 M S
92*
108*
*
96
98*
Jan ’08
No price
Westchester Light’g g 6s.l95o J-D
Friday; latest bid and asked this
100*102* 100 J’ne’io
week, a Due Jan
100
100
6 Due
A or
* Due May
A Dna J’lv-"* kDa«A<« n
\H
....
...
....
....
.
iiu*
111*
Han A St Jo
Dak A Gt so
iUlnois Central
see C M
„
'
...
...
LouisvDtvATermg3*8.1953
,
*77*
......
-»“T»
~
••••••
•*•••»
....
Lake Erie AW 1st
"76*
•••••
‘
.
ii)7*
....
....
...
-TTT-
•••«••
mm
t
«.r
......
......
...
Hnft DM
~_-4
p
Dntl ati
,
January 1
Oot ’09
101* 101* J’nel10
114 A pr *05
95
§•2!
sAtilA
••••••
Oct. 8
New York Bond
1910.]
BONDS
O
Price
Friday
Oct 7
N. T. STOCK EXCHANGE
Wkbk kntmk* Oot 7
Bta
Long Inland—(Con)
Bklyn A Mont 1st g 6s.. 1911 M-S
1st 6s
1911 M-S
N x BAM B 1st con g 6s 198b A-O
N Y A R B 1st g 6s
1927 M
J
Nor Sli B 1st con g gu5s ol932
9
Louisiana A Ark 1st g 6s. 1927
J
*I>
Louisv A Naahv gen g (is. 1930
Gold 6s
........1937 M-N
Unified gold 4s
1940 J-J
1940
Registered
PensacolaDiv
gold6s... 1920
084
J-J
Sink fund gold 6s
1910
Coll trust gold 6s........1931
E H A Nash 1st g 6s....1919
L Cin A Lex gold 4 4s. ..1931
NOAM 1st gold 6s....1930
N O A M 2d gold 6s
1930
A-O
M-N
J-D
M-N
1094
1024
121
Kentucky Cent gold 4s.. 1987
LAN A M A M 1st g 4<as 1945
LAN-South M joint48.1952
N Fla A 8 1st gu g 6s... 1937
N AC Bdge gen gug 4481945
Pens A Atl 1st gu g 6s..1921
SAN Ala con gu g 6s.. 1936
LA Jett Bdge Co gu g 4s..1946
LNAACh SeeC I A L
Vfl ahon Coal See L S A M S
LTIanhattan Ry consol 4s.1990
ibb”
103
95
102
J-J
M-8
J-J
F-A
J-J
F-A
F-A
M-8
904
984
McK’ut A B V See N Y Cent
Mex Cent cons g 4s.......1911 J-J
Stamped guaranteed...
.1977 M-8
92
904 974
Stmpd tax exempt.. 1990 A-O
01939 J’ly
113
114
"9*1" *964
12
944
102
1104 Mar’10
1094 J’*y’10
109 4 114
09
Sep *10
974
974
104
*994
974
105 4
084
99
99
31 4 May TO
26 4 Apr'00
77
Mar’10
Feh'08
80
994
1004114
88 4 004
8
034 984
21
944 994
McKees*BVlstg0s 1918 J-J
Mich Cent 5s
4s
75
Registered
J L * S 1st g 34s
let g 34s
77
20-year deb 4s
J-J
J-J
J-D
F-A
M-N
.....2004 M-8
1st A refund 4s
Gen s f 4 4s
1936
St L Div 1st ref g 4s....2001
Dai A Wa 1st gu g 5s... 1940
Kan C A Pao 1st g 4s...1990
Mo K A E 1st gu g 6s...1942
M K A Ok 1st gu 5s
1942
M K A T ot T 1st gu g 6S.1942
Sher Sh A bo 1st gu f 68.1943
Tex A Okia 1st gug 5s... 1943
MoPaoihc 1st con gtfa ...1920
Trust gold 5s stamped.al917
904
98
844
M-N
M-8
J-D
M-8
M-N
M-S
Registered
...,al917 M-S
let eoii gold 6s
1920 F-A
40-year gold loan 4s
1945 M-S
3d 7s extd at 4%
1938 M-N
1st A ref conr 5s
1969 M 8
Cent Br Ry 1st gu g 48.1919 F-A
Oeu Branch U Platg4s.l94e J-D
Leroy AC VAListg6s 1926 J-J
Pao R of Mo 1st ex g 4a. 1938 F-A
2d extended gold 5s...l93» J-J
St L lr MA Sgeu oon g 6sl931 A-O
Geu oon stamp gtd g 6s 1931 A-O
Uniiled A ref gold 4s..1929 J-J
Riv A G Lit 1st g 4s.. 1933 M-N
Verdi V 1 A W 1st g 68.1926 M-S
MobJ A K Cist cons g 5s. 1963 J-J
Mob A Ohio uew gold 6s..1927 J-0
J
1st extension gold 6s../xl927
S
General gold 4s
193a
Moutgom Dir 1st g 6s..194" F-A
St L A Cairo ooU g 4s..«193o
Guaranteed g 4s
1931
Id A U oou 4s See Southern
Mohawk A Mai SeeJS 1’CAti
Monongaiiela Riv See B A O
Mont cent see St P M A M
Morgan's La A T See S P Co
Morns A Essex See Dei LA W
j-j
1st consol gold 5s
192a A-O
J aaper Branch 1st g 6s..1923 J-J
MOM M W A Ai 1st 6s..1917 J-J
T A P Branch 1st 6S....1917 J-J
Nash Flor A She! See LAN
Nat Rys ot Mexpr 14 4s 1957 J-J
Goar gen 4s.....
1977 A-O
Natot Mex prior Len 448.1926 J-J
1st consol 4s.....
1951 AO
New HAD SeeN Y N H A ti
N J Juno HR see N Y Cent
N I B kin A Man Bch See L1
N Y Cent A H Rivg3 4s.l997 J-J
Registered
1997 J-J
Deben g 4s
1934 M-N
Lake Shore oollg 3 4a... 199b F-A
Registered
1998* F-A
a
h
Nash Chat A St L lat 7a.l9l3
084 084
ii
854
83
f64100
874
14
2
100
1034 Sep'loL...
82
o2 j 10
104
804 82
804 Sale
80
100
89 4
98
074
804’
80 4
100 4
110
100
107
Sale
10»
Sep TO
110
110
101
101
b94MarT0
iffi"
1014 Sep TO
784
79
78
J5
934
914 Sep 10
03
01 Ht
034
844
804
97
401
.....
21
20
r
Dec‘00
98
1174 121
114 4117
86
108
80
044
1174
H74
Sep TO
114 4
864 Sep TO
108
108 |
75
May'08
044
9*4
00
bale
98
8
2
....
....
....
......
92
J'ne'09
115
125
J’ne’09
Feb’08
100
100 Sep To
004 92
91
014
884 904 ,89 4
89 4
944 Sale
044
844
934 dale
94 4
934
110 4
107
100
100
Range
ibb
19
1
102
90
88
02
92
96
80
oot '07
1224
1004 112 115
1084
110
06 ~ 09
99
984 98
024
92
95*4
96*4
-
*8*3** ’88*4
924 Sale
994 100
984
sale
Oot ’00
J ue’O0
Jan’lu
Dec *09
J’ne 08
90
87
Apr’iO
924
924
09 4
994
100
Deu’uo
01
01
101
1014 1014
994 994 004
1014
094
13441354
135
1004 101
112
1004
1004
1134
M-N
M-N
••••••
....
Deo’00
1304 Jan’09
120 ~
107
91
••••
100
J-J
136
107
101
U2 4
Aug’O0
...
-j
....
3
09
09
87
00
80
024
10
0741004
1
16
90
1
92
0041024
064 100 4
46 130*4 1364
202
064 1034
1 112 4118
-
XmproYem’t * extg 6s..l934r F-A
New River lstg6s
1932 A-O
N * W Ry 1st oou g 48.1990 A-O
Registered
19961 A-O
108
111
......
J-J
.
87 4May’lO
Mar’o6
110
90
May To
1124 110 Sep TO
1074 1084 1074 Sep To
111
»ep’O0
1004
b6 Hi sale
b64
864
86 4 85 4 86 4
864
1024 Jan To
A-O
M-N
Div’l 1st 1 * geu g 4s... 19441J - J
10-25 year conv 4s.... 19321 J-D
Pooall C * C Joint4s.. 1941 J-D
1024
C
004 904
Q * T 1st gu g 5s
1922 J - J
loo
8010 V * N E 1st gu g 4s 1080 M-N
1024
76
814 North Illinois See Chi * N W
Norui Ohio See L Erie * W
80
Nor Pao—Prior lien g 4s.. 1007 Q J
06
014 96
Registered....
1997 u-J
86
87 4
General lien gold 3s....«2047 <j-F
Registered
a2047 w-F
08
St Paul-Dui DiY g 4s
1004
1996 J -D
110
113
Dui Short L 1st gu 5s.. 1910 M-8
105 4 110
C B * (4 coll tr 4s See ot Nor
St PAN P geu
g 6a....1923 F-A
81
86
Registered certlilc’s..l823 U-F
St Paul A Dui 1st 5s....1931 F-A
824 874
102 4 102 4
3d 5s
1017 A-O
1st consol gold 4s
1968 J -D
116
12 L 4
Wash cent 1st g4s
1948 O-M
11441174 Nor Pao Ter Co 1st g 6s..1933 J-J
Nor Ry cal see So Pao
864 90
107
108 4 Nor Wia See C St P M A o
Nor* Mont See N Y Cent
04 4 00
| | Ind AW See C C C * St L
054 Nov’OS
934 Sait
034
113
lo5
3 107
17 100
A-O
SeeN Y c A H
N Y * R B See Long island
N YS* W See Erie
N Y Tex AM See So Pao Co
Nor * South 1st g be
1941 M-N
Nor! * West gen g 6s.....1931 M-N
1084
100 4105 4
1047aSepTO
.
90
110
NY* Put
ibi*”
I06
00
100
103
110 4 Apr’otf
1U04 iol
78
106
90
102
1004
105
88
.......
J-0
M-S
pl9U2 M-8
Regie*6,000 only
78 4 854
834 904
30
Apr'00
J’ue’lO
Sep ’ 10
4
1094110 1004 ‘004
Iu8
1084 Bep TO
84
N Y L E * W See Erie
NY* Long Br See Centof N J
N Y N H * H—Cony 6S..1948
Oonv deben 34s
1056
Houaatomo R oon g 6s..1937
N H * Dorby oon cy 6x1018
NY* North See N Y C * H
N Y O * W ref lstg 4s..pl992
964100
....
Sale
102
J-J
A-O
M-N
F-A
A-O
97 4 974 Sep TO
984 JaaTuL...
1962 M-N
1929 A-O
J-J
Registered
2301 J-J
NY* Greenw Lake See Erie
NY* Har See N Y C A Hud
NYLackAW See D LAW
....
M StP A S S M con g 4 iutgn’38
M S S M A A 1st g 4 ml gu 1926
Minn Un See St P M AM
Mo Kan A Tex 1st g 4s...1990
2d gold 4s
0i99O
1st ext gold 5s
.....1944
1940 J-J
1951 M-S
Bat C * blur 1st gu g 3s.1989
N Y Chic* St L 1st g4s 1937
Registered
1937
Debentures 4s
1931
West Shore 1st4s gu...2301
100
Mex North 1st gold 6s.... 1910, J-D
May’lo
lob’ ibb*
Mich Cent See N Y Cent
Mid of N J See Erie
Mil LB AW See CiiioANW
MU A North See ChMAStP
Minn A St L 1st gold 7s.. 1927 J-D| 130
131
May’10
131,131
Pacino Ex 1st gold 6s...1921 A-O Ill
1124 118 Jan’07!....
South West Ex 1st g 7s.l9lO J-D
iuu4J’iy’io.... ibbii ibi”
1st consol gold 6s
1084 107
107
4 1024 109
1934 M-N 107
1st and refund gold 4S..1949 M-S
68
704
704 sale
8! 074 814
92
Dee M A Ft D 1st gu 4A..’35 J-J
87
Mar’10.... 87
914
MlnnAStLgu See B C R A N
1931 M-S
1931 Q-Mj
1940 J-J:
Registered
:>
964 99
274 314
.
....
Rut-Cauadlstgug4s.l949 J-J
St Law * Adir 1st g 5s. 1996 J-J
2d gold 6s
1996 A-O
Utioa* Blk Rlvgug4s.l922 J-J
Lake Shore gold 34s....1997 J-D
Registered
1997 J-D
Debenture g 4s
1928 M-S
25-year g 4s
1931 M-N
Ka A * G R 1st gtl c 5s. 1938 J-J
Mahon C’l RR 1st5s..1934 J-J
Pitts * L Erie 2d g 6s.al928l A-O
Pitts MoK * Y 1st gu 08.1932 J-J
2d guar 0s
1934 J-J
11041104
Apr'oe
084
27
70
2d oons mo g 3s trust roots.
Mex Internat 1st con g 48.1977 M-8
90 4
Hts
I
S ince
-3-0 January 1
or
Last Sale
...
1074 1104
98
1104
A-O
lstoonsinog 3s
1264
904 *6 89 4 92
904 914! 904
108
*1004 Aug’io
1064111
1990 A-O
Registered
Mar’10
106
Jan ’09
76 | 71
May’09
95 4 93 4 Sep ’10
116
J iy 00
illU
Jan’09
96
944
95**
106 4 102
Sep’1C
68
110
1114 112
103
124
1074 Mar’10
113
Sep’10
1134
112 4114
964 1004
107
Apr’10
103
124
120
Oct 7
Bta
N Y Cent A H R—(Con)
ask Low
Riga Re Low Riga
Mich Cent coLI g 3 4a....1998 F-A
80 4 Sale
80 4
7 78 • 824
81
794 70 4 Aug’10
Registered.............1908 F-A
794 794
Beech Creek 1st gu g 4s.1936 J-J
90
97
5 97
98
08*4
102
Registered
.1930J-J
Mai'04
2d gu gold 6s
1036 J-J
1064
BeecbCr Ext 1st g 3 4s 61961 A-O
844
Cart A Ad 1st gu g 4s... 1981 J-0
97 4 Apr’09
Gouy A Oswe 1st gu g 5s 1042 J-D
Moh A Mai 1st gu g 4s.. 1991 M-S
984J'neT0 ..1084 994
N J Juno R gu 1st 4s...1030 F-A
105
011 ’02
NU Harlem g 34s...2000 M-N
93
Aug' 10 -I ”0*3” ”034
NY* North 1st g 5s...1927 A-O
108
Oct '09
NY* Pa 1st con gug 4s 1993 A-O
Tr 964
7 *06'4 98 4
964
Nor* Mont 1st gug 6s. 1010 A-O
Pine v/roex.
c-uio
Creek reg guar 6s.
J-D
us.iedz
1932 o -u
1314 Jan ’00
R W & O con 1st ext 5s. A1922 A-O 1064 ll« 4 107
107
110
J’ly To
Oswe * R 2d gu g 5s...01915 F-A
1064 105 Jan 'os
K W* OT R 1st gu g 5s.1918 M-N It8
104 J’ne’iO
ibi” i04*
Rutland 1st con g 44s.. 1941 J-J
95
102 4 Feb TO
101*,, 1024
84
87
83
Og*LCliamlstgu4sgl948 J-J
80 4 914
Sep TO
1124 1164
23
1004 Dec’09,
107 4 Sep ’10
112
J’iyTO
100
Week?*
Range
...
984
984
984100 May’09
106 4 111
St L Dir 1st gold 6s
1921
2d gold 3s
1980
Atl Knox A Cin div 4s.. 1966 M-N
Atl Knox A Nor 1st g 5sl940 J-D
M-8
Sender
Bdgeletsfg6s. 1931
Sale
.....
J-J
J-J
Weke endino oct 7
Price
triday
....
105
Apr’071
109
Nov’06
97
Nov’OP
116
Sep’10
1124 Sep’10,
108
M-8
M-S
M-8
January 1
.;
96
1164 110
113
931
if c
N. T. STOCK EXCHANGE
.1014 Dec’08
1104Noy'06
1U3
100
101
93
t
97
BONDS
Since
Jiign Re Lou Uxan,
2
97
944 100
Aek Lou
j
.
Range
II
or
Last Sale
964 98
1949 M-S
Goar ref gold 4s..;
WeeVe
Range
Record—Continued—Page 3
964 Bale
5
97
00*4
95
08
101*» J’ue’06
1004
101
Mav’10
100
125 4 Sep TO .... 123
MarTO
122*4 128 126
1244
120 % 125 4 123
MaylO'.... 123
00 4 90 Hi 90
lut>4 00 064
07 Apr’lu
97
3
03*4
93*4
01
300
100*% sale
101
94 4
994
88*4 90
88*4
88*4 12 864
106
Apr’xo
1044
94
04
J’ly TO
1014
....
126’
126
1264
1264
1244
....
100
97
9*34 * 04*4
034
1084
004
106
”0*6*4 ”0*7*
1004 Sale
100
sale
sale
71*4
70
”004”1”
1014 46
| 2
1004
100
994
7lV
714
70
97
09
Sep To
112
10?
103
.....
103
.
69
72 4
.
964
074
.
99
00
1104
06 4 Apr’10
02 4 Jan '00
110 4'5-««,:0
103*4 105
1044 Sep TO
02
02
1024
084 101
694 74
Feu To
Feb’10
J’ue’lo
Aug l i
111
llo
09
Mar’io
1164 ^ep TO
1164
13
064
..11641184
..
117
117
..
110
110
..
103
1034
..
974
064
II ii‘04 iib’4
VJlno
Riv RR see salt * o
See So Pao Co
Line See Un Pao
Oswego * Rome SeeR Y C
pao Coast 00 1st g 6s....1946
A ao ol Missouri See Mo Pao
Peun RR 1st real eat g 48.1923
Consol gold os
1919
Consol gold 4s
1943
Convertible g 34a
1912
Convertible g 3 4s
1916
Consol gold 4s
1948
Alieg Vai gen gu g 4s...1942
DR RR A
Bgelstgu4sg.’30
PlillaBai A w 1st g 4s.. 1943
Sod Bay A so 1st g 6s...1924
UNJ RR A Can geu 4s.1944
Peun Co—Guar Istg44s.l921
Registered
1921
Guai 34s coll crust reg. 1937
Ore * cai
Ore Short
1004
no
116 4
1064
r...
in
1064
10841104
10
110
Sep TO
1084110 4
1164 May’o/
1174 Mar’06...."
....
1064
....
106 4
J’ly’04....t
113
I!
>
944 dale
944
894 Sale
844 20
934 954
914
2 87 4 02 4
l004Sep’iu
1004 1024
84 4 Sep TO....
82
86
914 Sale
91
1004 104
834
89 4
894 28
87
834 864 J’ly TO
I
044 Salt
94 4
044 11
824sale
82
824 81,
804
70 Sep To....!
1
....
874 93
804 904
92
054
704 824
78
80 4
,
Guar34seoUtr
J-D
M-N
M-S
M-N
M-N
J -D
M N
IW-S
F
M-N
J
M-8
J-J
J-J
M-8
B...1941 F-A
Tr Co oertif’s gu g 34S.1916 M-N
Gu 34s tr ctfs 0
1942 J -D
Gu 3 4s tr ctfs D
1944 J-D
JHISCELL 4NKOU8 BONDH-Contlnued
on
ser
10241084
102
1014 102 Aog’10
1034
ilo040au’09
T024 003
11 i’0’24 ibb”
00
00
Sale
004 50 084 102
064 bale
004
9/
113 04 4 074
1024 bale 1024 1024 80 1014 1044
90
100
I024 Apr’lo
10241024
105
110
100
04
‘103 4 Deo’00....
1014
loo
......
102
Jan
'08....
103 4 May’! 0
....
108
103
9 103
1044104
104 4!
102
1034 Feb’10
1034
90
00
884
Aug’U
89 4 Bale | 88 4
6 88
o04
97
Sep TO
054
90 j 87
87
Aug’io....
80
004’ 91 Deo'09....
......
104
106
....
....
1034
80
014
074
90
Next Page
Coal and Iren
Butt A Susq Iren s 16s.... 1932
Debenture 6s
a 1026
Cox i’ do 1 Co gen s 1 g 6s.. 1043
Convertible deb g 5s-....1911
Gol IndulstA coll 6s gu..l084
J-D
M-S
F-A
FA
F-A
F-A
A-O
Contm’talClstst guosg.1052
Gr Riv Coal A C 1st g 6s.. 1019
Jett A Clear C A 11st g 68.1926 J-D
Kan A H C A C 1st s t g 6x106 J J-J
Pocah Con Collier lsts f 5s.’5V J-J
SundayCreex Co g 6s
1914 J J
Tenn Coal gen 6s....
1061 J-J
Tenn Div 1st g 0s
ol917 A-O
Blrm Div 1st consol 6s..1017 J-J
Oah C M Co 1st gu g 08.1022 J-D
De Bar C A I Co gu g 6s. 1910 F-A
Fioior Fuel 1st s 15s
1063 J-J
Valron Coal AColst g 6s. 1040 M-S
9^4
102S
984
76 4 70
054
”0*0” ibb”
mmmwaa
97
100
82
99 4 Nov’00
04
Deo’09
101
Sep To
064 J’ne'10
78 Sep Ti
1074 uwi’Ul
1024 Apr’00
107 May’07
101
964
82 4
83
78
ibi** ibb”
102
1044 106
104
J’ne’10
„
83
Feb’07
83
#«**••
Sep To
Sep To
102
103
104 4 100
104
Sep TO
100
110
......
Jan’0i
LOU
Jan 1
854 87
Aug’09
004 094 90 4 Sep TO
6 Due Feb
Am Oot OU ext 44s
Am Hide A L 1st s f
g
Amer Ice Secur deb g
Am Spirits Mfg 1st
104 4
107
1034107
ibb” ioo”
944100
0
Due May a
1915 14-6
6s..1919 M-b
0s.. 1026 A-O
g0s..l91o M-8
Tiiread 1st ool tr 4a..1919 J-J
Am Tobacoo 40-yr g 6s.... 1944 A-O
4k
1051 F-A
deth Steel 1st ext s t 5s.. 192b J-J
Jent Leather 20-year
g 6x1925 A-O
* ons 1
Tobacco g 4s
1951 F-A
corn Prod Ref s f g 5a-,..193i M-N
1st 25-yearsl 6s
1934 M-N
Cnban-Amer sugar coll tr 6s T8 4-0
Distil 'leoooroonv 1st g 5s.’27 AO
E1 du Pont Powder 4 4s.. 1936 J-D
am
105 4 Deo ’06
•Nopnoe Friday; latest bid and asked. aDneJan
06
03
70
Han nine luring A
Industrial
Allls-Chalmers 1st 6s
1936 J-J
Am Ag uhem 1st o 6s
192b A-O
f)n«
i’ue feDueJ’ly fcDue Aua
o
794 Sale
102
9au
08
04
984
774
1014
974
98 4
704 108
102
98
04
72
0 100
14
10
034
02
844
103
98
102
684
67
734
07
94
07
93
68
72
Sep TO
95
100 4 95
*2
904 03
80*4 Sep TO
ibi
1054 BaJs 104V toft 4
804
804
-804 136
85
80 st Sals
804 00
094
9eh 83
094 ^kl*
784 784 80 Sep TO
03
04
...».
Sep’lu
94
04
Sal**
94
10
07
964J’lyT0
73 4
73 4 Sale
744 *37
82 4 88
85 J’ly TO
Due Ocs
-
a
Due Nov
0
Due Deo
89
1044108
Z6*
Si*
83 4 88
97
102
704 884
03
97
034 084
90
97
67
88
,744
/ Flat.
88
New York Bona
Record-P^ 4-ConcladtHl
17?*- LIIgIL
—-
BONDS
j^o
^ fe
N. T. STOCK EXCHANGE
Week ENDING
y-
OCT 7
Price
Range
or
BONOS
Range
o
_
Since
Last Sale If** January
Oct 7
'
-3
Week?*
Friday
N. Y.
1
Price
d'pOfJK EXCHANGE
Wagr Ending got 7
Bio
ASA Low
HigA JVo Lore Mxgti
Guar 15-25 year g 4s....1931 AO
97
07%
94*a 99
Sep’10
Cl* Mar 1st gu g 4%s..l935 M-N 100 *8
-»mi ’05
110
Cl A P gen gu g 4 %sser A.’42 J-J
103
110*4 Jan ’u0i
Series B.
1942 A-O 103
109% J’ly’09
Series C 3 >38
HO
1948 M-N
93
Aug’09
Series D3%s
90
I960 F-A
90
May’08
Erie & Pitts gu g 3 ‘as B.l«4(> J J
92
91
91
91
Sep’10
SenesO
92
.........1940 J-J
98*4 Apt ’04
Gr R<fc 1 ex lstgu g4%sl941 J-J
104 >4
104 *a Oct ’03
Pitts Ft W A o 1st 7s...1912 J-J 104 4 Sale 104*8
I04*a
104*3 106
2d7s...j.i.;..... 1912 J-J 104*8 **.... 104 % Aug'lO
104% 105%
3d 7s.....
A1912 A-0 104*4
107
Oct ’08
Pitts ¥A Ash 1st oon 6s. 1927 M-N 107
109
i09*‘ ibo
May’10
PCC A St Lgu 4%s A...104U A-O 106H, 107*4107
6 107
107
107%
Senes B guar
56 103 *8 107*4
....1942 A-O 106*8 108 .106%
107
Series C guar
M-N
1942
106 *a Sep 10
106*8 106*8
Senes D 4s guar
I 98%
1945 M-N
97*s
98%
97*4 98*4
Senes £ 3% guar g...,1949 F-A
93*8
94 J’ly’io
94 94
Series F 4s guar
»7»«
1963 J-D
C St L A P 1st con g 5s.l932 A-O
112%
*iii% ii2*a
%
Pensacola A All See LA Nash
* I
Peo A East See C O C&StL
I
Peo A Pek Un lstg 6s.... 1921
'HQ Feb’10
112
112
Q-F
2*t gold 4*38.....
95
100 I 90 *8 Sep ’10
014121 M-N
90*8 90*3
Pere Marquette—Bef 4s.. 195-5 J-J
72
76*aApr’10
76*a 79
Cli A W M os ,j£ii.
.*...J10L Sep ’lu
I021 J -D 100
10O
102*4
Flint A P M g 6s
1920 A-O 108*4
108*8 Sop’lu
108*8 112**
1st consol gold 5s
I03*a 101 Aug’lO'...* 101 101
1939 M-N
Pt HuronDiv 1st g 6s. 1939 A-O 103
loo
106
SagTuaA H letgug 4s. 1931 F-A
-
_
^Registered
.
|
IIII*Iill*2 Sepv10
stampeiC.......1927
Deb os
Rich A Meet 1st
1948
g 4a
So Car A Ga 1st g 6S..-.19I9
Virginia Mid ser C 6s...l9l6
series D 4-5a..*-i:.....1921
SSnea E 6s...
.......1926
General 6s
1936
Guar stamped.
1986
W O A W let oy gu 4s..1924
West N O 1st con g 6s.. 1914
A N Ala See LA N
5H
......
jioi J’Jy'ioL..jioi;
PhllBAW See Perm HU
1
Philippine By 1st 30-yr si4s’37 J
Ttts Cm A St Li see Penn Co,
itte Cleve A Tol See B A O
86
j
!
89
89 *a
J’lj’10
88
>
90
112
*
......
80
St L M
93 %J,iy’07
99
IV Begistered—
1997 J-J
3 Jersey Cent coll g 4s...1961 A o
Rensselaer A bar See DAB
•/
3alt
■
99%
98*% 07%Sep’iO
61
98*8
98 ‘4
98.-.-.,08%
97
95
100
98V
96
98%
>*
■
■
ah A Dan. See South By .
ih A Meek See Southern
>0r West See Den A Bio Gr
l A Pitts
See Bit AP «<■
le Wat A Og See N Y Ceut
nd See N Y Lent>
*v
105%
......
111
67
88*4
J-J
totf
t
87% date
100%
120
TexANO Am So Pao Co
Tex
Pao 1st gold 5s
2000
2d mdd Ino 6s.
yilKK)
La Div B L 1st g 5s.....1981
W Min W AN W 1st gu 5s ’JU
Tol AO C 1st g 58
....1935
Western Dir 1st g 5s...1935
General gold 6s.
....1935
Kan
AjM 1st gu g 4a....1990
Tol P A W let gold 4s....1917
'4
j,. 2d g 4s ino bond ctfs...pl989 J - J
Consol gold 4s
1932 J-D
j. Gray’s Pt Ter 1st gag 6s 1947 J-D
;
ft Paul A Dui see Nor Paoitlo
tbo
‘
Dec,«v
95
...t
’
mmmaAte
96% 9?
80
91%
18
78
*11
as)
14
101% Apr’07
......
i9l%
100% 100%
48* 85
114 117%
76% 82%
so
91%
sale
76% 11
108%
90
88
79
93%
82
72% 99%
Minn A Man
Set Gt Nor
1ft P A Nor Pao See Nor Pan
; StP A S’x City See C St P Al AO
GAA A Pass lstgu g48...1043 J-J
SPAN P 1st sihjc i g os.luiy J J
85
_
Ev F A West see Atl coast L1
g 4«.«ly33
Oar Cent 1st con g 4s...1949
Fla Cen A Pen 1st g 5s.l913
r
1st land gr ext g 5s ...1930
86%
98%
loto Vai A N E see Sot a W
1
aboard A L g 4a stamped ’50 A-O
Coll tr refund g 5s ......aoil M-N.
Adjustment 5s
ol949 F-A
Atl-Birm30-yrist
87
,
104
1
84
99% 100
I
•70 *s *ale
1
84
M-S
J-J
j-J
J -J
J-J
J -J
J-J
J -J
101
100
86%
6
Oot ’09
84% 74
84
99%Sep’iO
* o-** I
70-.
83% 88%
»»**•#
56
Sep'10
91
Aug 10;
103
Apr'10*
.1103
87
91%
103
Consol gold 5s
loi
...1943
3l»u% May'10 ,...i 100% 100%
Ga A Ala JBy 1st con 5s 01945
10.*4
lUiy.Mar’10 ,..."104
104%
GaCar A Nolatgugos 1929
102*4
104
J’-iy’io ,...!!104 104%
Seab A Boa 1st os
103
*8
1926
106
Apr’10 ,..J 106 106
•her siir A so see M k a X
fill Sp oca A <j See AU Coast L
Bonthem Paoiiio co¬
s' Gold 4s (Ceut Pao coB).«1949 J-D!
Sale
92
92
92% 40 89
95
90
Begistered
#1949 J -D
j 90 J’ly’10
90
86
20-year conv 4s
0I020 M-S
98% bale j 96%
>99 3*33 92% 106%
Cent Pac 1st ret gu g 4s 1949 F-A
Sale ! 97*s
88
98 i 75 94% 98
Begxstereu
1949 F-A
97
FeU’10
97
9/
Mort guar gold 3 %s..«1029 J -D *90* 9U*a 90
87% 90
90 I
94 r 92
Through st L 1st gu 4s ’54 A-O
88
J ne 10
91% 94
GHASAM APlst5s..l931 M-N 105% lu.8%109
Sep'io
103% 109
; Gila VG AN 1stgug5s. 1924 M-N
104%
uy
Hons E A W T 1st g os.1933 M-N
lu5% lOoSiMay’uO
f
1st guar os red.......1933 M-N 101 106
ltf3*4 Aug'lo
103% 105%
I H A TClstg5sintgu..l937 J-J 110 110% HO Sttp’10
109% 1 lU%
F
Consol g 6s int guar...1912 A-O 109% 110% 109 % Nov’09
; • Gen gold 4s int guar..1921 A-O
92
93-4 95
Aug 10
t'*92*‘ 98%
Waco A N W div 1st g 6s *30 M-N 115 122 IL9 % Alai’lu
U9% 119%
AAN W 1st gug os.... 1941 J-J 102
107 % *»an o9
Morgan’s La a T 1st 7s.l918 A o 115
122 % ^.ug’uS
i .- la* gold bs
110
1920 J - J
116
Aov’ub
i NootCai guar g os..,...193S A-O
iia
Feb’07
i Ore A Cal istguarg os.1927 J-J lob
J’ne io
loo
100 1U0
Bo Pac of Cai—6s bob b .1912 A-o 101%
104 *a J 'ne’08
1912 A-O 101%
H 1st gold 6a
ii4 »g Dec’04
1st oon guar g os
1937 M-N 107*4
116
May’07
BpacofN Mexlstg bs.. 1911 J-J 100*4 100-8 101
Mario
101
lo 1
Bo Pac Coast Istgu4sg.l937 J-J
84
93
90
J’iy 09
Tex&NusahDivist gos.1912 M-S 102 102 % 101 % Majr’lo
101% ii>2%
COO! gold 6s.....
1943 J-J
100
102
Nor 09
TT
f
_
*1*03%
..
•*•••»
”
„
..
......
......
....
....
v
••••
•••••#
....
......
:::::
%
108
Sep’l
92
J’ne’06
109
J’ne’09
no
Feb *10
in
100
66
111
Feb’10
4
105
104
M-N
M-N
....
....
*86** III!
J*
104
....
....
A-O
104
5:}
108
97 %
108% 109
111% Sale
60% 65
J-D
Mar
J-J
F-A
J-J
86%
J-D
A-O
J-J
Registered.:......... ^1947 J-J
•
1939
Debenture senes B
1st lien equip s fd g 5s.. 1921
1st Ben 50 yr g term 4s.lV54
1st ref aud ext g 4s ....1956
Det A CU Ext 1st g 6s..1941
Des Morn DlV 1st g 4s..1939
Cm Div 1st g 3%s
1941
Tol A Ch DlV 1st g 4S...1941
Wab Pitts Term 1st g 4s. 1954
Trust co certfa
2Ugold 4a....
1954
Trust C’o certts.............
Warren see Dei Lao A West
Wash Ceut see N or Pao
Wash CAW
See Southern
Wash Term! 1st gu 3 %s._ 1945
West Maryland 1st g 4e... 1952
Gen m conv a 4s
Ia62
Trust Co c ertfs..
W Va Ceut Ob P 1st g 6s 191i
WestN Y OB Pa 1st g 6s.. 1937
Gen gold 4s
1943
income 5s
41943
W eat N o Car See South By
Wueei'g ALE 1st g 5s...1926
Wheel Div 1st gold 6s.. 1928
Lx ten A Imp gold 5s...1930
BB 1st eoiisoi 4s.... ....1949
-
M-8
J-J
J-J
J-J
J-J
A-O
M-8
J-D
•••••
sale
97% sale
96
96%
115
116%
112% 112%
93% 94
....
105
107%
..
102
104
::!!**
—
Dec ’09
91
Feb’10L...H 91
lu6%May’lu
...,Jjl05 % 106%
y
■
,
....;i*O0 * 112*%
99
00
81
70
Sep’io
81
69
1U3
86
104%
90% 94%
93%
92
87
80% 86%
J'ue’lO
87%
J’ue’lo
Dot’09
100
91
106
100
100
89
*9*0% i*0*2*‘*
102%
lu3% 453
W
^%
101%
’
lol%
91
97
161
2351 95
-V
90% •10- 94%
110%
li'll3% ll7
112%
7 108% 113
00%
115%
112%
94
30
Jan V9
94
107 % Deo’OVj...:
93%
96
90
110% 105 J’ly’10
93% 95
94
toep’10
109 %
lu9% Sale 199%
108
J’ue lu
105
94
10/
98
86
100
Mar'lu
90
i
Nov’08
98
90
105
*
100
sale
iuO
99
......
S6%
......
65 % sale
loo %
**76** ‘*7*7*
83
39
Sale
39%
sale
1O0
30
100
90
65
Luo
83
lUO-4
J’ly’10
f
66
396
J’ly’10;....
6%
74% Sep iu
Sep ’10
38%
38%
&
30%
“.Sep 'lu
0%
89% Sale
S9%
89%
80%
86%
80% 298
2
7i%Feb'lu
?3*y Apr'lu
1 lu%
»7
111
Not
93%
52%
64
4
4
11%
12%
88%
82%
90%
86%
<1
73
86%
no%
92
Feu’u 7
104% 105
Jau‘10
J ue’10
104
99
82
Leo’08
90
93
90
86% Sep ’lu
101
102
82
93% Sale
77
74%
105% Sep’10
■
^
luy %
**0*6%
93%
77%
107%
08%
101%
85
56%
lou % hiov’uy
3 ue lu
liu
34
82
86
102
90
83
33
32
6%
J-J
103%
105
72
OJ
6% Sale
oait
98%
113%
Deo V9
S3
......
i
20-year equip s f 5s ...1922 J-J
WiUtes a East See Erie
WU A SIOUX F See StP M A M
VV is Ceut 60-yr 1st gen 4s 1949 J-J
SupA Dm divA term 1st 4s’ 36 M-N
'*.»•'
%
’
v.
•
I3l!i08% 112%
111%
Alai’lo
bep ’09
Apr’10
06%
••
..
M-S
110%
’94
•••••a
F-A
A-O
A-O
A-O
J-J
F-A
106% Sep ’09
107% AprMO !IIIf i’o*7% i‘0*7**%
109
Aug’10 ....100 115%
98 %
98 *s
ill 06
98%
109
May’10 ..Jl,O0 109%
•*k
J-D
J-J
A-O
9l
91
1*03** 1111*1
M-N
1939 F-A
1939 J-J
......
103
V andaUa consol g 4s .^.1956
v
107
101% sale
J-J
M-8
ure By a Nav eon g 4s. 1946 J-D
Ore Short Line latg 6a.. 1922 F-A
lMeoxieoi g 5s.........1946 J-J
Goar refund 4s
1929 J-O
Begistered...........1929 J-O
Utah A Nor gold 5s.. 1926
Uni N J BB ACCo See Pa BB
Utah-Central see Bio Gr Wes
U tah A North See |ln Paoiho
Utica A Blaca B SeeM Y Cent
F-A
eracrasAPlstgu4%sl93i J-J
Ver Vsi And A W See Mo P
Virginia Mid See South By
Va a South«r*t 1st gu 5s.2003 J-J
1st cons 60-year 6s
1958 A-O
Wabash
1st5s......
gold 6s
2d goal
......
103
84
••••*•
IIII *1*0*6% i*06%
ldj...Jl05% 107%
105%J’ly
107
......
82
no
114%
lift
107% Deo’09
106% N<»v’04
107% low %i 108 Sep *10
105
112
Sep ’OU
loi %...... 99
Aug’lo
88%
94% Mar’ll;
91% 93% 93 Sep’10
87
87
AuglO
77%
7%
81
106
#••••-
Nov’OS
106% Apr’10
82
70
Ai... 103
VS
A-O
J-D
Tor Ham; A Bad 1st g 4s. A1946
106
100
no
93%
—-jjlOG 106
Not’09
113% Sep’10
114
Sep ’* 0
115% AprV0
105% May’10
75 Get'08
103
Sep’10
93
1109
112
Oct’06
106% Deo *00
TT
M-8
M-8
5:2
J-D
••••••
81% 85%
99
160%
69*8 76%
80
91
»3%
To
103%
71
103% 1U4
M-N
M-B
WprBeng3%s.l925
—
84
.....
103
A-O
M-N
A-O
J-J
J-J
124
l; 90
96% 98V 98% Aug’lO
91% Sale
g
94
...^105
S.7M119
'loo% Apr?10b,tJ
82%aale I 824* < 82*4 20
U4*a ......117 i Sep. lUiv.i.
78*4 78V 78%^ 7t»^r 32
96
K LSW
Louis So1st See4sIllinois
Cent 1 M-N
bd otfs.1080
St P
Apr’10
87%
99
K C Ft S A M By ref g 4s 1936 A-O
K C A M B A B 1st gu 6s.1929 A-O
Os’rk A ChC lstgu6s g.1913 A-O
1
89
107 Sep ’10
I 91 Vs
9*4
90
„
1
rne’10
89
117%...... 120
%
[
>6
111%
109
Bge Ter gu g 5s. 1980 A-O
ToiStLA
St L A Iron Mount see M P
St L M Br See T Bit A of St L'
St Louis A S F—3eng 68.1931 J
General gold 6s.
....1931 J-J
St L A. S Jf kit cons g 4s..’96 J • J
Gen 15-20 yT 5a
.1927 M-M
Southw Dlv 1st g 6s..1947 A-O
Refunding g 4s...«...195LJ-J
KQ FtS A Moong6e.. 1928M-N
109
Sale
100
.
I
'Pus A H See Pere Mara
•OtJoAGr isi 1stg 4s...1947'
ft L A Cairo See Moh A Ohio
93
70
.
M.y’10 ...4Jll2 112
...A.i...
112
,
“
j
Spokane Intemat 1st g 5s 1955 J-.
itts Ft W A Ch See Penn Co
itts McKees A Y See S Y Can1
itts SU A L E 1st g os...1940 A-O
1st consol gold 5s
1943 J-J
Pitts A West See BAU
^ 1
V> eading Co gen g 4s
1997 J - J
Since
January 2
a*k-Low
Mia 4 Mo Lout Miff A,
95% Sale
94%
95% 152 93% 95%
18 103%
108% Sale 108% 108*<
......'110 May’09 V** '>■»<•*• a# 111%;
«•••••
76% sals
77 225 73
76%
81%
86 *8
80 %
8 85
86 %
90 %j
107% ItO 108 Sep 10 ....106 110 <
85
86
86
Sep 10
80% 87
105% ...... 108 >-ep *08
...... ......
.....1994 JDevelop A gen 4s Ser A.I956 AMob A Oliio coil tr g
4a,.1.938, M-S
Mem Div 1stg 4%-5a...l996
J,J
St Louis div 1st g 4s....1961
J-J
Ala Cen B 1st
g 6s......1918 J-J
Atl A Danv 1st g 4s
1948 J- J
2d4s
1948* J-J
Atl A Yad 1st g
guar 43.1949 A-O
Col A Greenv fat 6s
1916 J-J
E T VaA Ga Div
g5s..l930 J-J
Con 1st goldV5s
...1956 M-N
E Ten reor lien
1938 M- 8
g 5s
Ga Midland 1st 3s
1946 A-O
Ga Pac Rylst g 6S......1922 J-J
' "
Knox A Ohio 1st g 6S...1925 J-J
nob A Bit prior lien g
6s 1945 J-J
Mortgage gold,is...... 1945 J-J
RuSh A Dan Con k 6s....1915 J-J
......
Range
or
Last Sale
Bia
1st ref 4s
1955 J-J
Southern—1st con g 6s....1994 J
80 Pac RB
......
Range
Oct 7
Pennsylvania Co—(Con)
-
WeeVs
Friday
93%
03%
94
L04
102
16
77
87%
43
00
00
95
94
93%
1
Telegraph and Telephone
Am
Telep A Telooil tr 4s 1929 J-J
convertible 4s.. u
1936 M- 8
Mich State Telep 1st 5s.. 1924: F-A
N Y Telep 1st A gens 1 4%s.’39 M-N
Pac T4l A Tel ist 5s
1937 J-J
West Uuiun coitr cur os.1938 J-J
Fd anu real est g 4%s...l950 M-N
Conv 4sf Series A.......1936IM-N
91% Bale
103
97
sale
100
08% sale
97
sale
99% sale
94
95
91
103
06
08
91% 57
103% 378
Aug’lo!..
96%
93
05%
101% 101% 102
89% 93
98
106%
05
09
08%kiu 95%
97%
90%
95%
43
95
3o
97
03
00
99%
100n
3
972
100% 102%
11
06% 100%
Sep’10
MISCELLANEOUS BONOS—Concluded.
manufacturing & lnduetria.
Manufacturing & Industrial
Gen Electric deb g 3%s.,194i F-A
10-yrg deb 5s
Int Paper Co 1st
J-D
oou g 6s.l0l
F-A
/ Consol conv s < g 5s.....l935 J-J
Int St Pump 1st s 1 5s,...1920 .d-S
Lackaw steel i st g 5s
1923 AO
Nat Enam A stpg 1st 5s..iu2 J-D
N Y Air x>raxe ist conv 6s ’kb >41-N
By Steel spgs 1st a l os...l02 • J-J
Bepub iA s 1st A coitr 5s. 1034 AO
Union Bag A P 1st ai 5s..l93u J-J
/
Stamped....................
...
dF LeathCo sldebg0s..l0l3
fB Bealty AI conv deb g 5s *24
146
lul%
82
Sale
iale
84
92
101
86% 85
02% 02
96%
97
101%
85
02%
96
i*o*3** saiV
Sep’10
Sep’10
06
lu4 '
103
97 J*ly’ic
102
104
102
102
91% 03 MariO
03
86
May’10
104 •» 106
104% Aug'lc
87
Sale
87
b7 »•
>
97 %
AS
84
00
8
1
861
82
.
147%
106
LOO
82%
89%
02
96%
05% lOO
04
16 10U
07%
114%
00% 03%
102
03
93
21
104
96%
06%
104% 105
85% 94%
104 s sale
87%
102%
8b%
103%
104
104% 1207 iVl % 106 %
......
103% Sep
102% sale
......
•No pride Fridayi latest bid and asked this
82 Jan’i
82
139%
146M136 130
......
J-J
• Red a Kef 1st s t g 68.1031 J-J
& Bubber 10-yr 00U tr 6s.* 18 J-O
Jf G Steel Corp—j coup .01963 M-N
Gf 10-60 yr 6s. (reg ..J10oH M-N
'
80
lui.
week.
It
71
*1U|..
86
90%
101% 104%
101% 105%
6 Due Feb 4 Due
Ja-Car c’hem 1st 15-yr 6s 1023 J.D
•Vestinghouse E A Ms 16s ’31 j.j
jclteceilaneeue '■
Adams Ex 001 tr g4s.
194b M-S
Armour ACo 1st real est 4 %s’30 j-u
bush Terminal 1st 4g.....1052 A-O
Consol 5s
1055 J.J
Chic Jo A t Yard ooig6s.l0lo J-J
iietMAMldgr moomes..l011 A-O
1 us tit for irrig
Was 4%s 1043 M-N
int Meroan Marine 4%s..l922 A-O
int Navigauoxrlst s f 6s. 1029 F-A
N ewp Ne Ship AD D 6s <41900 J - J
N Y Dook 60-yr 1st g 4s.. 1951 F-A
Providenos bee deb 4s....1967 M-N
Prevalent Lean boo 4%s. 1921 M-8
b Yuba Wat CO oon
g'6s,.1023 J.J
Wash Water Pow 1st 6s.. 1930 J. J
100
Sale
08
bale
99%
01%
100%
03
....
92
02% Sale
87% 80
......
97
95% 1U6
.
Apr « Due May g Due J’no ADue
J’jy
85
......
»5
......
65% Sale
79
95
81 %
••.,.
03
••••••
t
......
104
44
,J'lie’ll.
Msy’i
Augll*
bep ’le
66% . 66
78 Sep TO
90
05
112
i03
fcDue Aug oDue oot
86
,93
91%
90%
37%
94%
39
98
100
40
96
66
76
»•
p
*00%
0o%
Sop TO
J’iy’00
J’ly'04
.
98%
06
100
35
Deo’00
00%
86%
a
.
100
35
06
95
♦90%
83%
•
91% Sep *10
02%
.03%
88
Aug’11
164
90
94
90
,
....
......
Aug’lu(....Hl01
mmm
IQf
Dui Nov sOntlon Sslo
CHICAGO STOCK EXCHANGE-Stock
STOCKS—HIGHEST AND LOWEST SALE PRICES
Monday
155
*.... 156
*
*1*2
*6
64
*6
15*2
*7
*4
4
•20
•70
•17
61
•18
15*4
4*4
4*2
23
73
20
62
22
60
53
*
68
•9
49*2
8*4
68
*243
*__
*75
*108
♦80*4
62
*18
22
60
*61
*18
4*4
4*4
23
73
20
62
22
60
68
*17
*57
*9
57*2
9*4
60
8*8
*
131
79
8
4*4
4*8
23
73
20
61
22
60
58
8%
637s
*
131
_
131
*76
77
77*2 *76
77%
IO8I2 *103 108*2 *108 108*2 *108 108*2
*137*2 138*2 *137*2 138*2 *137*2 138*2 137*4 137*4
'
mm^-n
*32
•621*
*48
*1
*2
*37
120
35
64
50
1*8
3
38
120
mmmm
w -r - -r
*32
35
*62*2
64
*48
50
*1
*2
3
*32
63
*48
*1
1%
38*4
119*2 120
__
„
.
_
_
nr
38*4
*120
*32
63
60
*62*2 04
♦48
3
39
122
_
— — —
83
83*2
61*2
83*2
*61*2
w
_
69*2
99*2
62
60
60
99*2
99*2
^mmJ1
*_..
21
6U2
f*
59*4 69*4
99*s 992)
99*2
_
1
_
_
t
21
_
110*2 111*2 111*2
121*2 121*2 121*2
*125*2 126 P125*2 126 *126
*118
119*2 119 119*2 119*2
107
107*4 107% 1077* 107*4
121
111*2
12H2
_
119*2
118%
1014s 1015ft
*-...
_
104
8*4
*.—-
175
*_.—
_____
104
_— _
—
16
*
175
8%
*
175
_
_
1
l2o
Northwestern Eiev.
8*4
68*4
387g 89*2
120 120
39V
107*4
„
,
Last Sale 15
16
*....
_
-
u-
Jan
25
30
78
Jne24
J’n62l
J’ly 19
135
Aug 6
131*4 J’ly 30
112
Feb 7
-
J’ne 6
J’ne &
Aug 11
*1
Feb.4
Sep 23
3
•
-
I'.'
Do-^ righte^...
m m
...
Chicago Bond Record
*; 1
-s
*¥it“
»
.
Memo
117
107
Jan 13
8
Feb 28
;an 6
Mch 2b
Jan 7
82
91
46
Dec
Apr
Apr
2% Nov
Deo
42
140
Sep
Jan
152
Jan
Oot
$i%Jly
251V A tig
m + m m
I/igFeb
70U Mch
117
Jan
68
1
Mch
Jan
••»••■•**
NOV
Jan
751* Dec
J an
Apr
2% Apr
20
127
J’ne
145
1
6
40
61 >4
"1
22*4 Jan
127
Aug
% J ne
% May
10
May
48
J’he
121% Jan 11
2
Feb
*
— 1* • W'T'f » W 1-t-
163
38
43
Jan
Jan
Jan
20
884 May
130*4 Aug
881) Dec
47 S4p
60% May26
102% Apr 20
f
f
Aug 8
J’ly 19
Feb 24
Feb 10
J’ly 26
148
Feb
—
115
125
120
121
6
Sep 30
Mob 30 !
115*4 Jan 3
Nov
21
97?* Jan
H8I4 Feb
130
82
110
102
*
Sep
108is Dec
124 Mdv
1197* Aug
Jan
Jan
Jan
166% Apr 14
122
Mch 14
109% Jan
186
J*ne22
J
8
Feb i9
j’ne36
Mob
1691s Deo
m%oot
114*4 Aug
100% Jan
119 Jan
162
Dee
105
"pec
9
May26
Jan 6
15% Jan 3
106
J’ly 16
5% Apr 28
t
Jan
Jan
66
101
J’ne
119*4 Sep
“•"'% Feb
7
101
15
Jan 7
Jan 18
n-m
116% Aug 8
101
Sep 16
155 J'ly 27
....
•.
*r
112
103
104
*
v«..*
it
H8
-
t«
—
—
101
Do
249
pref.........100
936 Swift 4b Co..
....100
The Quaker Oats Co..100
Do
ww-i*V
rights.........
Do
63
D*ef.........l00
1.494'T Unit Box Bd 4b P Co-100
Do pref...
—100
Western' Stone...100
H
*■
15U Nov
86
226*4 Oct
132
J’ly
8U* Dec
112
Sep
64% Apr
101
139
May
May
May
Dec
Dec
«
ir-
786 People’s GaaL&Coke. 100
f Do HghtSi.^.^.ii...
1.648 Sears-Roebuck 00m 100
-
'■»»
Aug 26
108% J’ly 27
l!i Jan 20
13% J’ly 9
79% Apr 7
8212 Sep 30
53
J’ly 20
43*2 Mch t
40 Mch 17
98 J’ne 28
i
v
—
142
..........
>
^
103
Jan
Jan
126
Apr 4
Jan u
39*4 Jan 6
74 Jan 4
55 Feb 17
1
Feb 4
3
Sep 23
4/
Febn
137 Jan 3
Mavl7
61
641
Feb
200
84*2 May 16
25*2 J'ly 26
110
100
115 Chtc Title A Trust
681 Commonw’th-Edlson.100
A±
Do rights
25 Com Proa Ref Co com
r; !
Do ‘ ao
* pref....
1.102 Diamond Match.....100
UUnois
Brick...
.100
420
J Masonic Tempie........
444 McCrum-Howelt Co.. 100
Dor pref......
209
Milw 4b Chic Brewing
Do
weti—
-•r-’n
160 National Biscuit.
.100
Do
45
pref.....^
100
100
15* National Carbon
*
Do
116
prefi-...
.100
June* 10
31
56
47
L
73
Jan
Jan
Vs Jan
71*4 Jan
*
142*8 Mch
3 Ui* Dec
‘9
Dec
29U Apr
13% Jan 10
.ian
13% Jan
29% Jan
62 J’ly
83*2 Mav
Nov
97
Apr 25 250*8 Sep 22
1:0
72
107
30
Dec
Dec
17
63
60
6
Jan
16
Dec
o
Feb
Jan
Jan
119*2 J'ly
451)4 Jan
Dec
15% Sep
47
Jan
72*2 j nC22
54% Jan 3
82
<14
8% Dec
5
Jan
190
8
J’ne2i
J’ne 22
104
Mch
10i2 Dec
77*4 Mch 30
72
23
66
Highest
1*2 Opt
6
Oct
977s Deo
39
Jan 10
39
J’ly 16
240
156 Chicago Telephone...100
__
10”
3
3
9% Jan 6
6*4 Aug 16
65* J'ne30
62% J'ly 26
•r
•
102% 102*4
175
Last Sale 172 Sept*10
Last Sale 6*4
June’10
104 *108*2 104
*10312 104%
0
9*4 z v»
0*2
»J4
Last Sale 7*4
Apr* 09
104
9
Feb 17
Jan 14
Feb 7
Apr 1
40
)
10712
102*8 102*4
^mmmm
8%
l*-.—
107*2 107*2
Jan
_
121
102*| 102*8
-
Jan
36
16
69
16
180
-
39-%
*120
)09
May31
55«4 J’ly 5
7 J'ly 28
_
Mch 7
13
May 2 6
Lowest
3*2 Jan 26
7% Jan 7
28
.8
8
3
51
15
53
100
100
Do
366
...100
pref
11 American Radiator. .100
Do
pref.......
100
60 Amer Shipbuilding
100
Do
100
pref..
60 Amer Telep A Teleg
Booth (A) A Co
100
Do
pref
100
Booth Fisheries com....
Do pref..........
40
Cal A Chic Canal 4b D.100
Chic Brew*g A Mait’g
Do pref
—-t
395 Chtc Pneumatic Toot. 100
*250
185
28
Niay24
2% J ne29
20
Aug 18
Miscellaneous
400 American Can
*8
8*4
*68
69
*250
251
255
Last Sale 126
July* 10
*74
*74
76
78
Last Sale 108*2 Sept* 10
138
137*4 137*4 ♦137
Last Sale *8
June’09
Last Sale *4
June’09
Last Sale 35
Sept'10
*60
*60
64
64
Last Sale 47
Aug*10
1
Last Sale
Apr* 10
Last Sate 3
Sept’10
8*4
6834
1*2 J'ly
4
J’ly
60% Sep
11*4 Sep
Do
pref
100
77 south Side Elevated..100
165 Streets W Stable 0 L.100
Do
40
pref
..100
50
Last Sale 11-16 Meh*09
158
159
15812 160 s
120
120
119 119
_
104
104
87g
16
120
10124 102*8
____
104
*103
8*4
120
'
97g
50
.C~
iy
168 158*2
11978 120
_
157*2 168
157*4 158 1
118*2 120
101*4 102
1%
107*2 107*2 107*8
_
US
168
*117
89
120
455
10
....
21
*109*4 HI
•120
84
r___-
_
.
60
3
39
120
mmmtm
Mch 7
185
...
83
mmmm.
83*2
61*2
83*2
61*2
*1
*2
978
10
50
100
Chicago City Ry
Chicago A Oak Park.. 100
Do
pref
..100
Chic Rye part ett ”1*’
Chic Rys part ctf *2”
Chic Rys part ctf ”3”
Chic RyS part ctf *‘4''._.
Chicago Subway.
100
Kans City Ry 4s Lt-.lOO
Do
pref
.100
Metropot W S Elev-_.100
Do
pref.
..._100
69
mm
Highest
Lowest
mr'mne-r
tange for Previous Year
(1909)
Ma^'roads
mmmm
i——■ —
mmmm
___ _
97g
Range for Year 1910
Shards
Last Sale 2*4
Feb’08
145*2 145>2
145*2 145*2 *145 146
114
116
117
116
H6I2 117
Last Sale 1*4
Feb’10
15*2 15*2 *15 -•* 16
Last Sale 79*4
Apr* 10
84
87
8478 85 - 8712 86
69
*59
60
69
69*4 $0
Last Sale 45
Aug* 10
59
60
69*2 59*2 •50
5912
99
99
*98
09*8 *99 100
Last Sale 2*8
June*07
20
*.
21
Last Sale
Nov*09
lit
♦111 112*2 109 110 *109
122
•121
122
121*8 121*8 *120
124 124
125
124*4 124*4 125
•119 120 *119 120 *119
121
145*2
_____
50
Oct 7
mmmm
•••
•
145*2 14512 *145 146
112*4 112*4 *112 112*4 112*2 113*ft
•145
35
35
1*8
*2
38
....
m-r'-mw
vvt,r
EXCHANGE
*
50
8*8
687g
_
Week
Friday
Sale 185
Mch'10
Sale 1*2
July*10
Sale 4
July* 10
65
65
67*4
16
157g
157*
Sale 9
July’10
Sale
Lon
412
Sept’10
*4
4
4
4*4
♦20
23
*20
23
Last Sale 71% Sept’10
Last Sale 19
Sept* 10
*60
*60
62
62
Last Sale 20
Sept’10
Last Sale 65
June’10
68
58
*57
59
50
*250
STOCKS
Last
Last
Last
*60
*25
Last
97*
50
68%
131
77
15*2
e%
9*2
8%
8*8
65
*57
50
*48*2
....
*
68*4 68*4
687g
250 *250
250
8*8
8*4
65
16
8
2*2
!
*6
*64
15
*7
*4
4
*20
*70
*17
61
*18
mmmm
4*4
23
*70
155
*1*2
2*2
*7
*4
8
4*4
*....
155
,
4
23
73
20
*48*2
0S7„
250*8
Oct 6
*15*2
16
57*2
9*2
9*2
49*2
Oct 5
*6
*64
64*4
*7
*4
4
*20
*70
*17
8
Oct 4
*1*2
....
64*4
*15*2
64
Thursday
*__,
2*2
*1*2
Wednesday
**
Oct 3
2*2
Tuesday
Sales
'
Saturday
on 1
Record-Daily, Weekly and Yearly
227* Apr
98i 2
jan*
*8 Feb
334 Mch
1^
16
,
1*8 Meb
9*2 Jan
26 Mob
Feb
TW
-
Chicago Banks and Trust Companies
r
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Oct, 7
Inter¬
Price
est
Friday
Period
Odt.7
Bid
Amer Strawb’d 1st 6s.1911
Armour A Oo 4 H9...1939
Aurora Etgtn&Chic 5.1941
Cal As So Ohio Ry Co 1
1st M 5s.....
1927
Cass Av As F G (St U 5S '13
Ohio Board of Trade 4s 1927
h
-
*
-D
A
light
Co 5s
1913
Knlck’b'ker Ice 1st 5s 1928
Lake St El—1st 5S...1928
Income 5s..
1925
Metr W Side El—
1st 4S
1938
Extension g 4s.
1938
Morris As Co. 4H.
.1939
North West El 1st 4s. 1911
No W G-L & Coke Co 5s 28
Ogden Gas 5s...
93
mmmm
High
99% 99%
90% 64*2
102
102%
J’ne'Oi
Sate
.f...
103
50
—ZL—
....
....
101% Oet’09
100
May*07
102%
102*2
mmmm
2
93
Apr*04
ApriOO
Calumet
Low
-----
Sale
Vrnmmm
^
—
m
FirstNational
First Nat Englewood...
Foreman Bros B'k*gCo.
Fort Dearborn National
Hibernian B’k’g Ass’n..
t
....
101% 103%
» ——
_____.
Kasp&r State Bank....
_
—
....
85% 88
96% Sale
Z&iL-
88
75%
90ift Mch'10
_
mmmm
102%
101% Sale
....
....
—
t-
__
_
84% 87*>4
90 101%
3
88
75
T--
11
95%
86
90*2 91
97% 101%
97% 98
--I- - —
97%
97%
67% Sep'10
100% Ap^lil
66% Aug'08
4
100% lOOkt
People's Stic Yds State.
vPralrle National......
Prairie State...
66% Julv'-w
10 %
102%
2
lul'4
100% Aug'10
87
101%
80
•
La Salle St National
Live Stock Exeh'ge Nat
Monroe National
Nat Bank of Republic..
National City
National Produce
North Avenue State...
North Side State Sav’gs
North West State
——
....
77
10U% Sep’10
100% Aug‘U9
100% Aug’10
....
•
J*ne*lu
93%
97% Sale
....
•
85% Sep* 10
96%
96%
75
....
—
94% Dec *09
87
Feb*06
100% 103%
100% 102%
100% 100%
100
100*2
....
....
-rrr
Railway Exchange....
Security
100
—
96%
75
102%
Dec'08
•
....
94% July* 10
96
75
16
Sep*10
MaV*05
Wendell state.._
Central Trust Go of III..
75
85
Chicago Sav Bk <fc Tr
Chicago Title 6s Trust..
80
84
76
88
80
m-f
■ww——
-r
.
-
A
81%
82%
82
82%
77
77
77
J
76
—
J
x90% Sale
95*4 90
b
M
-m'nmm
.
N
Pearsons-Taft 5s...
1916 J • L>
M - S
4.40s
4.608 iSeries E......... M- N
M - N
4.80s Series F
Poo Gas L As C 1st Os.1943 A - O
Refunding g 5s....1947 M- b
Chic Gas LAC 1st 5sl937 J - j
Oonsum Gas 1st 58.1936 J - D
Mut’i Fuel Gas Ist5sl947 M-N
South Side Eiev 4 Ms. 1924 J • J
....
93
Sale
98%
95
96
....
20
1
13
19
90%
55%
90*4
96%
99
Apr'10
92%
93
100% Mch'09
96% Mch’10
Citizens Trust A Savings
Coionla* Trust 6s Savings
Cont A Comm Tr A Sav.
97
93*4
93% 96%
__
17
Feo’lo
99
99
92*2
96%
06*2
9612
97
97
98*2
98*2
Drovers*! rust&Savlngs
Farweil Trust Co
First Trust 6s Savings..
Guarantee Trust 6s Sav.
Harris Trust 6s Savings.
Illinois Trust 6s Savings
Kenwood Trust 6s Savgs
Lake View Trust&Savgs
Merchants’ Loan 6sTr Oo
Metropoll tanTrust 6sSav
Northern Trust Co
North-Western Tr&Sav
Pullman Trust 6s Savgs.
Sheridan Tr 6s Sav Bank
^Standard TT 6t Sav.*...
Stockmen’s Trust A Sav
Union Trust Co
vWest’n Trust A Savings
West Side TrdsSavBank
Woodiawn Tr6sSavBan*<
'
97*2
.-f v
98*2 Mch’10
mmmm
121% May'09
101% 101%
101%
1 101%
July’lo
100% Sep’10
101% Sep* 10
92
91%
100%
100%
88
ApflJ
103
....
w
'
92
101%
Sale
100*4 103%
103
104%
100% 10215
101*2 101%
91% 94
100
10078
6
-..V
....
-
15
J - J 7100% Sale
1
A - 0
d-N
114
Nor*04
66
57
70
Apr* 10
j - J 67
65
65 June’10
A
O
85*2 July 08
must >»e added to ail Chicago b load
88
—
•
i.m
€8
1
■
70
65
'■
.
70
65
*
■
....
“*rwr
prices.
T
1908
'
i*
si,
V-t* TO
543,541
224,197
9.622,319
In
1909
0
6
10
10
«...
5,437.074
12
0
22*126
10
600,000
399,499
9h
0
6
200.000
36.85>i
12
12s
10.000.000 10,836.569
10
10
192,377
150,000
525.372
Prlv ate Ba
1,000.000
8
383,692
8
1,500,000
8
950.430
8
1,500,000
140,885
10
10
200,000
251,586 Beg. b us. Ma
1.000.000
490.626 10+2
10
1,250,000
12
6
3,000,000
200,000
300.000
2,000.000
1.500.000
250,000
200,000
50,000
200.000
300.000
250.000
500.000
250.000
200.000
1,500,000
250.000
200.000
94%
94%
mmmm
Mch'09
Profits
t
Savings.
Washington Park Nat’l
95%
Stock
South Side State
State Bank ot Chicago..
Stock Yards Savings...
Union Bank ot Chicago.
South Chicago
—“
Dividend Record
In
300.000
200.000
......
i
F J J 4«J-
1,
Drovers* Dep National.
^
*
_
_
National
Englewood State—...
t-
and
...
....
24
Surplus
ing
*
National
Corn Exchange
Drexel State..
....
^
_
Outstandr
5100,000
500.000
Chicago City.
Contl’tal 6s Comm Nat. 20,000,000
96*4 Jan*0J
_
H-N
.1945 it
Swift A Co 1st g 5s
1914
Unton El (Loop) 6s..1945
Union Pacl0c>oonv4s.l91l
United Box Board ooi 69*86
General mtge 6s__...._
Western Stone Co 5s..1909
Mate.—Accmed interest
_
—
NAME
Range
for
Year1910
High No.
9^% Mcn'lu
-
A - 0
J - J
Feb
B’ds
Sold
Ask Low
793
fk-o
r a
J • J
J - D
Chicago City Ry 5s...1927 F - A
Chic Consol Br A Mlt 6s... J - J
Chic Consol Trac 4 Hs 1939 J - D
Chic Auditorium Ist5sl929 F - A
Chic Dock Co lit 48..1929 A - O
Ohio Jc RR 1st M g 53.1945 M- S
Ohio No Shore Elee 6S.1912 A - O
Chic Pne Tool 1st 5s.al921 J - J
Ohio Ry 5s
......1927 F - A
Chic Rys 4-5s series “A” A - O
Chic Rys 4-5s series ”B” J -D
Chic Rys 4-5s series ”C’ F - A
Chic Rys coll 6s.
1913 F - A
Chic Rys Fund 6s..1913 F - A
nhfn Rys Tpm
Aft
Ohio R I A P RR 4S..2002 M- IN
Collat trust g 5s—.1913 M- S
Chic Telephone 53.__.1923 J - D
Commonw- Edison 5s. 1943 n- s
Chic Edison deb Os.1913 j - j
1st g 58....July 1926 A - O
Debenture 6s....1920 n- s
Commonw Elect 5shl943 *1 - s
Illinois Tunnel 58.__.1928 J - D
Kan City Ry As
—
Week’s
Range or
Last Sale
65,108
404,524
83,034
68.756
26.269
18.498
105.120
2h
6
mmmm
8
2
1)9,6
luly *10, 6
Oct »iOi 2*s
Q-J Oot ’10,4
Q-J July ’10. 1%
Q-J Oct 10. 2%
Q-J Oct 10,1%
Q-M Sep 30’ 10.8»
Q-M Sep 3010^2%
mimm
—
nk
j
,
^
io.
Q-J
Q-J
Oct
J-J
July 10, 6
V .90, p.1277
Sep 80’10 2%
Aug. *10,1
3ct *10,2
Sep30 10,1%
dot
10,1%
Oct 10, 1%
Oct
2
10,2
mmrntm
6
None
Q-M Oct
....
*10,1%
*08,2
*10,1%
Oct *10,2
Jan
1H Q-J Oct
....
6
11,035 Beg. b
11
1.742,907
7
186.241
6
47,899
J^J
%
Dee
■wrirr
•mm**
62,310
80,077
23,268
186.Q38
87.000
An
4
8
6
3
mmmm
....
Last Paid
iod.
y’lu
Q-M
Q-*
Q-J
Q>J
Q-J
6 H Q-J
6
Q^| Oct 10,1%
Q-J 00:. *10,1
Q-J Oct *10,* 2
4
8
3
1,214,618
Per¬
6
us
Sep
12
8
6
CW
t. 09 V.
89*, p. 817
Q-J Oct 10,3
Q-M Sep30'10,2
ja-N May 10. 3
100.000
7,814 See y. 90, p. 169
6
6.570
50,000
Atone Q-U Dec31*08.1%
7
2.000.000
872,807
7
xw Oct 10,2
nSOO.OOO
116,352
6
1H
Q-J Oct 10,1%
6
6‘
5,000,000 11,543,802
Q-J Oot. 10, 2
4
60,000
4
A-O Apr9,10,8
7488
600,000
454,135 8+2
8+2 ,Q-J Oct 10, 2*2
427.869
3,000,000
7H
115,219
200,000
8
QQ Oot 10,2
8
1.500.000
183,929
Q-J Oot. 10,1%
2,600,000 3,113,260
16
Q-M Sep3Q*10,4
200,000
14,619 incorp orated 1908 v.87.p.1188
6
1.250,000 1.456,828
9H Q-J Oct * 10.8
5,000.000 8,444.429 16+4 16+4
Oot *10. 4
4
6
200.00b
53,626
6% Q-J Oct 10,1%
4H
6
200.000
43,365
Q-J Oct *10,1%
.3.000,000 5,840,079
12
12
QQ Oct 10.8
6
6
760.000
221,456
Q-J Sep 3010,1%
8
1.500.000 2,327,738
8
Q-J Oct 10.2
6
200.000
6
J-J July 10.8
64,494
8
500.000
8
224,584
Q-J Oct 10,2
200,000
123,013 Beg b ua J’ly 12 0 9 V 89 i»14l
1.000,000
250,000 Comm eneed bus. Sept 6 1910
!
6
6
200.000
J>J July 10, 3
32.754
8
1,200.000 1,190.520
48+2
Sep30’10,2
•
Oct 10,1%
,*1,000.000
132.692
200.000
107,552
Sep 30*10.2
6
200.000
•
53,442
July 10.2
,
....
^
^
—
.
*
’
& Bid and asked prices; no sales were made on this day*
T Sept. I (elose of business) tor national banks and Sept. 2 (opening of business) for - Stater Institutions.
2 No price Friday; latest price this week, a Due Dec. 31. 6 Due June. * Also 20% in stock, n Capital and surplus to be increased. a Dividends are paid Q-J.
with extra payments Q-F. s In addition the equivalent ot 4% more came from First Trust* Savings Bank, t July 311910. v In addition the equivalent el 1% came
from First Trmt* Savings Bank,
e Prairie Nat. Bank and Western Trust * Sat. Bank to be merged apd oepltal of latter to be increased to $l*250,00Q; Y. 91, p. 314*
is See V. 91. p. 72.17.
* July 11910.
:.
••
•v;.-1:;,-,.
.*•
r.;’
..
BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and
Yearly
SHARE PRICES—NOT PER CENTUM PRICES
Saturday
Oct 1
Tuesday
Oct 3
Wednesday
Oct 4
101
100
220
Oct. 6.
101
101
220
*10014 10034 *100l2
*9934 10034 *100
....
*13l2
15*8
*70
*13l2
74
1012
*70
*10
*36
*142
109
10l2
*35
*142
*109
15l8
74
Lowest
.
^
^
Range /or Previous Ycdi
(1009)
Highest
Lowest
10034
100l2
...
23
14
204
150
15
46
18
109
*..._
...
117
*87
....
...
19->S
2OI4
84
8412
15314 15314
*182
27
*103
20
2012
8412 8434
153l2 154
*182
27
*2712
*103
99
*9912
16712 16712
*9078
160
84
102
443$
15
47g
15
114
138l4
2712 2712
94ig 943g
*812
9
19
6
*412
*143
150
9
*812
258
258
150
9
*8*2
258i4 158*4
145
14514
83
833s
92
92l4
*
*534
♦107
109
*131
*92
163
14
....
*107
*130
131
1631$ 164
*13
101
...
10U2
*3014
31
l9678
198
90
“
90
*6*4
1134
42*2
.
64
27*4
....
*_
197
58
28
16*4
6*2
*92
58l4
28
90
43
44
64*8
27*2
65*4
27
27*2
40*8
40*2
17
17
65g
*
14*4
59
5*2
*1034
.50
14
.60
14
53$
18*2
678
63g
19~g
6*2
2034
2*4
1434
21*2
6*2
21
6*2
*3*2
35*4
*912
778
.35
.40
19®8
438
48
2034
2*8
1412
21*2
63g
*3*2
35*4
4
3534
10
10
8
8
.40
.45
*.35
.40
*
1978
5
48
‘
47
20
5
49
28
29
125
*12*2
73
1834
*1*4
■110
1?8
50
*7®4
11*4
37*2
125
13
125
13
74
19
74
19
134
10*2
1?8
*13$
51
8
5034
734
11*4
60
60
40%
39l2
4H2
49
4914
*3U
22*4
40
33s
471f
22*4
473g
714
7*4
*212
115
*1*2
10
2
3
115
11
60
4038
*39%
x48%
*3l4
22**4
878
7
.50
37*2
125
13
’
74
19*4
1*4
1038
2
51*2
734
117g
60
6
4U2
401a]
49
3*s
23
,”2% ”2%
7%
115
178
*1*2
pay t at
*2
15
22
6*2
334
5
28 *2
.25
3112
6*2
21*4
8*4
115
ih
.
1412
53s
5934
59*2
.20
1034
8*4
19*4
45S
48*2
1934
5*4
105s
28*4
♦
’ll’
.40
.45
20
458
4812
2012
53g
105S
29*2
*
134
*434
5
49
49
20
5
103s
29*4
S34
*178
2
50*2
5178
*1*8
5034
8
8
12*4
601?
6I4
40l4
12*4
3912
48%
33g
22*4
4712
*212
8%
*117
*H2
40
49
33g
2312
48%
3
8*4
120
1»4
7*8
10
59
534
3834
39%
487g
3I4
23%
477g
212
7*4
120
*H2
u cation m 1 jjj.
6*2
378
35*2
10*4
6
40
49 *;
3I4
24
4884
212
8*4
120
134
19
90
7*4
1234
8
45
1938
*434
m
7
*.50
1434
5*4
19*2
1434
5I4
1934
59*4
550
20
A uc'10
.20
.15
lllg
7*4
IB*
7*4
5
*49
49*2
20*4
5*2
10&8
31*8
19"$
*5
105*
2934
834
*6*2
9
7
.25
.25
68_
478
4“8
73g
13
75
19
*13s
10*4
1*4
10*2
2
2
50*2
8*8
12*2
51*2
8*4
13
60
*59
534
39*4
39%
4834
*31g
2312
534
rwd
-
aaa
100
Do
pref
100
Mergenthaler Lino...100
497 Mexican Telephone.. 10
533
5 N E Cotton Yam
100
100
100
Pacific Coast Power.. 1 CM)
423 Pullman Co
100
220 Reece Button-Hole.. 10
276 Swift & Co
100
135 Torrlngton..
25
Do
pre!
23
~693 United Fruit
100
Un
Shoe Mach Corp._ 25
2,692
Do
265
pref
25
9,161 U S Steel Corp
100
Do
345
pref
..100
231
Do
pref
8()|N E Telephone
145j West Telep
678
22*2
2*8
16*4
23
634
4
34*2
1034
1934
*4l2
4912
20*8
53g
10&8
30*2
884
7*2
1978
5
50
Do
pref..
.25
193s
*13s
10*2
48*4
3I4
2314
4912
l’,282
230
”56
1,199
90
92,
8*2
3*4
23l2
49*4
”8%
‘8%
129
Sept’10
priced,
1,810
1.346
14
59
6
40
40
49
*5
48*4
338
23*4
565
40*2
52*2
812
13
59
40
40
Bos&CorbCopdsSilMg
11134 Oct
J'ly
J’ly 7
J'ly 1
127 u
26
91
7
Mch 18
Maylu
16
128>2 Nov
75
Jan
79
Jau
Oct
J
ly
Mch
Feb
Dec
88*j SCO
195*4 Jau
III4 Jan
58>2 Jan
19
Oct
Nov
84
Nov
Feb
<1153
146
200
190
26
1747$ J’ne
149
215
Apr
Aug
Sep
60
123
59
89
May 16
21414 jan *
2»4 Jan :
Sep 21
9912 Aug i
Aug
11
12912
107
Men 2?
94
J’ne3i
iii4 Jau Hi
153
Jan 2<
100
28
27
McbJv
Jan It
165i2 Jan 15
46*4 J’ly
J’ly 13
Sep 21
25
31
25
25
25
25
10
Cons Mercur Gold
Copper Range Con Co 100
20
Mayflower
25
Mexico Cons M & S_. 10
Miami Copper
5
Michigan ...
25
Mohawk
25
Nevada Consolidated.
5
New Arcadian Copper 25
Nl pissing Mines
5
North Butte
15
North Lake
25
O Jib way Mining
25
Old Colony
25
Old Dominion Co.... 25
Osceola
25
Parrot Silver & Cop. 10
25
Gulncy..
...
...
4,690 Ray Consol Copper..
50 Santa Fe Gold & Cop.
2,889 Shannon
120 South Utah M & S...
3,245 Superior....
1.270 Superior & Boston Min
6,297 Superior&Pltts Oopp.
258 Tamarack
933
Trinity
10
10
Do
58
.15
50
.....
paid.
0
5
t
10
25
25
25
2'»
Oct
9% J
13
7
ne3u
Mch
Jan
o
7
7
245
l60i2Jan
8514 Oct
6
1503$ Feb
7
Men 18
22012 Feb 21
634 Mayio
124
115
100
14
Jan
5
Feb 11
Oct a
Jan
4
9034Jan
3
31
l‘25-\s Jan
l3i2 May
o
Sep 1
J’ly 7
28i2 J’ly 15
9
J’ly 23
4i2Mcn 8
.40
Aug Jo
.30
J’ly 19
3
17
J ly 18
378 J’ly
j’ly
175g J’ly
3K J’ly
934 Jau
12
26
5
13
17
18
J’nejo
658 J’lv 13
5
Sep 7
43
.25
29>2
114
12
66
16U
13s
884
114
73g
45*2
4*4
33
Aug 9
ti ne 15
J’ly 27
J’ly 6
J’ly 5
J’ly l
Sod 29
J’ly 5
J’neso
J’ly 19
J’ly 14
j’ly 6
J’U©22
J’ly 18
MchJl
3312 j’ly 20
45*4 j’ly 20
212 J ly 22
I8i2 j’neao
h3934 J’UC30
212 J’ly 22
.5 J’ly 13
102
J’ly 12
114 J’ly 26
E1-3toe* div.
n
■
t.
1j3j Sep 30
94
jau
a-
97
Apr
220*4 Dec
3*4 Oct
Jan
1»
Feb
)
Apr
Jan
126*4 Jan
Feb
75
168
Jan
U34 Jan
100
Jan
20*2 May
Feb
Sep
12
Sep
126*2 Jan
Mch
28*2 Jan
4134 Feb
*54
Feb
47g Oct
Jan
Feb
Mch
62
5334 jan
5034 jan
1214 Jan 14
38*$ Feb
Feb
30
J iy
8
64
.70
.45
17 *8
Mch 2s
103
Jan
685
Jan
Jan
38
.10
85
3
3
Jan 16
Jan
9
5gMch2fc
13®4 Jan
2i2 Feb
22l2 Mch
-
3G
Jan 12
11
Jan
6*4 Jan 1*
94>2Jan 22
19 Jan 14
87sJan 22
l?gJan 13’
6
29
Jan
Jan
7
8i2 J an 21
75
Jan 2
27*2 Jan 11
1058 Jan 12
12
50
May25
Jan
J
J an
11*4 Dec
338* Nov
Jan
119
695
Aur
44*2 Sep
35
jau
8684 Nov
12
Mch
l68g Apr
2*2 Jau
Aug
12*4 Nov
110i2 Dec
14j>s Nov
19
38
Dec
22*g Apr
7*2 Apr
2*2 May
Jan
33*4 Feb
9*g Aug
c734 Dec
74*4 Dec
1034 J iy
4*4 Mch
18*4 May
16
30
3*2
1284
534
z57*2
16*2
3*2
I9*g Dec
1
6
Apr
Apr
Feb
Oct
j ly
Feb
NOV
978 Oct
83
2434 Mch
234 Jan
Jan
Mav
Dec
18
.80
24
7*2 Aug
122
19
Mch
Dec
6*2 Dec
J
ne
Feb
Dec
Dec
Dec
Nov
k8*s Dec
13*4 Mch
70*8 Jan
30
Nov
83s Dec
13
Sep
85U Jan
Dec
47*4 Feb
Jan
Oct
5134 Dec
ne
68*2 Feb
7*2 May
7*2 Feb
1
Oct
Feb
13
73g J’ne
90
Feb
9
Feb
8*4 Sep
.40
2134 Jan
18
10
Feb
Feb
4i2 Mch
£34 Nov
1234 Jan
134 Feb
92
585
29
47
257g Mch
55
166
8
Oct
Deo
Dec
96*2 Nov
40*2 Dee.
Feb
J’ly
Sep
21*8 Feb
96*4 May
Oct
10*2 May
65
23
2414 Jan 13
18i4 May26
28i2Jan
Dec
Nov
Dec
131
1)
96
6*8 Jan
Mch
76
d4
Aug
31*4 Sep
947g Oct
4ou Jan
9034 jan
Oct
34
35
170
71
1484 Sep 15
i>a
Oct
Oct
125
118
139
108
199
114*2 Aug
24)4 Jan
107
Apr
173 Aug
8334 Deo
Jan
Jan
2
68
93
Jan 3
Jan 11
10934 Jan 10
3414 Jan 3
31
May o
2u0
Sep 10
7134 Apr la
260
202i2 Men
138i2 Mchll
200
12*2 Sep
oll2 Aug
8*4 Oct
147*2 Nov
1378 J a*
Jan
59
89
J’ne
108
Jan
Jan
125
-
57g Jan
4434 Mch
k8i2Jan 3
z6
Feb
Feb
Jan
3
J’neU
J’ly 18
10
Nov
Nov
Oct
12i2Jan 1U
IIH4 Jan
ll?g Jan
2
Jan
ll^gJan
97
106
Apr
Apr
334 Apr
8i2Jan 11
152l2 Mch
Apr
50U Aug
J ly
90i Feb
22*j Nov
136
Apr
131
Apr
145*8 SeD
40*8 Aug
Jan
*117‘
125U
27»2
93*2
4*2
15*4
.
1433g Feb 24
3912 Mch 1 IO4I4 Mch 23
lli2Jan 7
28
112
5** Jari
Feb H
J’ly 26
J’ly o
6% Sep 2,9
1434 J ly 19
9
25
Feo 17
6
20
19
25
J ’ne3u
3i2 Sep 28
6i4 J’ly 13
36
.
AsTt
lo \s
44*4 J’ly 1^
50 J
J ’ly b
1312 J’ly 15
.04
J ’ly 6
.....
1,208 Utah Consolidated
367 Utah Copper Co.....
90 Victoria
1,700, Winona i
........
132 Wolverine
Wyandot
e
J ne3b
,5j
Mch 9
10
May 4
5l8 Oct 4
5
5
25
10
Utah-Apex Mining...
a New stock,
19% J’ly 26
36 j'ly 13
12‘4 May 4
10
.........
pref
J’ly 13:
65i4 J'ly 12
...
3,662 UnitedStatesCoal&Oil 25
2,531 U S Smelt Ref & Min. 50
591
665
-
25l4J’ly t
01% J’ly 26
ill
J’ly 26
4
100
24
.c
6
Oct
127*8 Mch k‘ dl4
169
10
25
1
...
14
Jan
94
Aug
2I884 Aug
117*4 Aug
176
Apr
98*8 Apr
Jan
3314 Jan
124
107
fl72/'g Feb
93*2 Mqh
165
88
102
Jne
40
Apr
48fg Jan lu
Sep 26
8?s Feb ij
105
26
25
25
Butte-Balaklava Cep. 10
Daly-West
28
28
100
5
Centennial
a
3
26
Feb l.
Aug 15
2,080 Butte Coalition..
15
1,716 Calumet & Arizona.. 10
15 Calumet & Red a
25
.25
19*2
134
1034
‘52’
40
40
465
825
715
210
131
13
74
13
74
Oct
Mining
1,588 Adventure Con
20*4 4,090
53g 1.545
1034 1,295
31S>8 26,783
9
8
J’ly If
14
111
14
81
& Teieg_.100
74
26
49
49%|
3
3
*8
8%
121
126
125
Last Sale 1%
pref
J’ly 27
98*4 MchJr
4% Aug 5
36
Boston Land
10
4i2 J’ly
Cumb Telep & Teleg.lOO 138% j’ly
210 East B os ton Land
7% Apr
211 Edison Elec Ilium.. 100 i239 Jan
337 General Electric.. ..100 135
J’ly
3,538 MassachusettsGasCos 100
76U Feb
1,895 East Butte Cop Min.. 10
.15
200 Elm River
12
1178 1,807 Franklin
25
5,750 Giroux Consolidated.
5
27
2,408 Granby Consolidated. 10o
7*8 2,862 Greene Cananea
20
23
2.545 Hancock Consolidated 25
80 Helvetia Copper
2*8
25
17
6,565 Indiana Mining..
25
23*2 5,577 Isle Royaie Copper.. 25
483 Kerr Lake
5
634
4
270 Keweenaw Copper
25
37*4 5,389 Lake Copper Co
25
870 La Salle Copper
1034
25
93« 4,650 Mass Consol..
25
39*4 39*4
40
129*2 129*2 *128
*12
*72
19
Do
147
1,507 Aiiouez
6634 10,042 Amalgamated Copper
2712 2,085 Am Zinc Lead & Sra..
320 Anaconda
176* 1,765 Arizona Commercial.
790 Atlantic
7*2
.60
300 Bonanza Dev Co
17*4
6734
193g
...
45
66*4
27*4
m
Miscellaneous
1,052 Amer Agricut Chem..l00
Do
pref
200|
100
796 Amer Pneu Service... 50
Do
310
pref
50
2,289 Amer Sugar Re An
100
Do
345
pref
100
3,591 Amer Telep & Teleg-.lOO
280 American Woolen
100
186
Do
pref
100
95 Atl Gulf & WISS L.100
13*4 3,645 Algomah Mining
9
9
8*4
Last Sale .40
SeDt’10
.35
.35
*.35
.45
134
10*2
2*8
51*2
83g
1234
3934
70i8
II8I4
*88
6734
434
73s
2*8
167s
23*8
678
37S
36*2
10*2
15*4
2234
2038
53s
1034
3034,
59
5*o
19 “
28
7
22
*2
.45
.45
1«34
*13S
8
12
60
6
39
*n’
7*4
1958
134
10*4
10
*
65g
2134
8
.35
14*2
28
118
27
17
7
.60
197
57
*1814
7*8
1234
44*2
6578
39~s
31
5934
67*4
434
73s
10*8
8*2
Aug'10
697g
59
551
550
20
19*2 19*2
Last Sale .10
67*2
412
7*2
9
9
6*«
7
*6*2
634
* .25
*
.25 “ .50
.50
38
3712 38
39*4
127
*125
127
131
13
*12
13
13
74
74
72
73
19
1878 19*4
19*4
834
19
59
551
25
*
’*5%
90
*6
*.50
*14
*5
634
2134
2*4
1634
23*4
6»*
3~8
37*4
35*4
10*8
220
6
107
108
135
Sep’10
31
378
l
Last Sale 30
197
197
198
57
57
5712
28
28
*2712
65g
21*2
15*4
22*2
6*2
8514
9212
16234
13*8
10218
28
*2
220
6
8334
9212
162i4 163
16212
*133s 135g! 13%
102ig 102ig 102l8
*3012 31
*3012
44*2
6412
2634
39~s
1634
5* a
7*8
138
...
7
12
19*4
6034
.20
12
11512
110
*88
550
19
.10
4*2
7*8
7*8
34*2
678
21*2
2*4
1612
23*4
65S
334
37
.35
550
19
* .06
67
16
117
13714
*2912
8312
92%
687g G934
11734 11778
*18*4 19
12*4
45*2
6534
2634
405s
17*4
„
12
10*4
*7*2
58
28
14*2
5*2
1878
67*2
47s
7*2
31*o
29
7
.50
19
36
*
28
*
7
*6
.50
*14
6"8
550
18
.10
1334
7
64*4
263g
4(K>8
16*2
.60
"11*2
*
20*4
53g
1034
,50
38
.50
94
163*0
90
7
12
43
17
47g
7*4
.40
.45
20*s
e6*8
6534
27*4
6634
223g
658
334
3634
10*2
8*4
19*2
*4*2
878
6458
2634
59
550
18
* .06
15
10*2
812
6*2
44
14*2
5*s
18”8
11*2
7*8
34l2
634
21*2
2*8
1034
8*4
43
♦
20*4
5
7
12*4
4*2
7*2
1934
*434
1058
*6
* .25
*37
•
11
7
33
6*0
7
1134
678
*
.20
*88
90
5*8
_
197*2
m
10112
115
107
108
13H2 131 *132
Last Sale 95
69lg 705g
117l2 H8I4
*18*4 1914
....
55g
19*2
4
7
*
33
2*4
14*2
*
*
4*4
6*2
33
28
678
.......
.15
11
7
5814
28
17
59
61*2
*550
550
550
175s 1758
18
18*2
* .06
* .06
.13
.13
657g 66
66*2 68
*37g
6l2
5734
*88
42*2
647g
1834
*30*2
197
57
28
*107
*108
102*8
*
29
198
197
6*2
1212
59
102l8
*30l2 3H2
*512
131*2
102
102
92*g
220
—
,
*92
96
83U
534
109
163
16314 164
1312 1312 *12*2
31
29
198
8334
92*2
220
*107
109
131
...
109
46%
*30
31
3012
95
95
95
9512
*9
10
*19
1934
Last Sale
July* 10
Last Sale 143
Sep'10
*81 z
8%
812
812
268
268
26712 269
150
152
152
1523g
8*S
538
13H2 13L
6*2
11*2
5*2
183s
92*4
220
6
115
13714 13734
267
83
84
9212
7058
697g 7012
117
11758 11734 H734
1912 19121
1812 19
12
115
10
19
6
150
8*2
220
*107
*107
96
164
14
*-...
17
7
.60
137*8 138*8
*29*2 30
95*4 95*4
*512
...
.
138
30
95I4
1014
116
263
Jan
195
J’ne
162
123
275
136
103
117‘j Aug
115
*5
*144
Nov
971**
115
*9
19
.»an
115
267
90i4 Mch
45
4412 4434
46
46%
102
102 l0212 101%
*101*4 102
5
5
412
51g
412]
5l8
16
157g 16
*1512 16
1534
116
11714 1157g 116
116
♦II6I4
6918
....
*6
* .50
14
221
6
109
31
5734 5812
27*4 28
6878 6912
116% 116%J
1912 1912
.
92
220
101*2 10134
90
May
46i2 Dec
....
4414
19
6
150
9
261
Feb
77*2 Nov
14*2 Mch
f5*4 Oct
——
147~g 148*2
8334
92*^
*218
6
*412
*143
*8
261
84
83l2
9212
220
*534
*106l2
10
19
153
3U1
22
10
143
Mch
Nov
Jap
235
I32i2 Jan
Sep
1134 Jau
60i2 Jan
295
200*s Jan
....
9
19
....
‘*4l‘2 “e”
*143
99
4412 *43
10178 10178 *101
478
47g
47g
15
16
*15*4
111
1161s 115%
115
11134 115
13734 13814 13712
28I4 2812 *29l2
95
9412 9514
11312 114
113
138
...
4412
102
47g
124U Jan
223i2 Dec
Dec
Apr
.
^
'84l"s 8412
10112 10U2
1
10H2 101*2
44%
....
168i8 169
*9U4 9214
917s
*150
84
*
-
125*8 Oct
106
J’ne
239*4 Apr
135
Dec
Jan
225
_
...
Jan
98
i0034 Jan
...
...
Highest
Kailroads
...
12512 125i2 *12534
♦115
117
*86lo
Oct. 7.
Range Since Jan. 1
Atch Top & Santa Fe.100
9112 J’ly 2
123ig Jan
Do
pref
.100
97U Aug :
104i4 jan
220
220
220
220
Boston & Albany....100 2i8 J’neui 234
Jan 10
Boston Elevated
128*4 12834 12834 12914 128
12834
100 *122
Aug
136*4 Jan 6
*210
*210
Boston & Lowell
L-0J
100
227
J’ly
Feb 24
*■
134
134
134
134
134
135
135
Boston & Maine
.100 132 Sep R
152
Feb 2
285
285
*285
292
*28512
Boston & Providence. 100 285 Oct
298
Jan 211
Last Sale 15
*1312 151S *1312 1518
Boston Suburban El Oos.
Sep’10
14
J’neit
16 Jan
3
*70
74
*70
74
72
Last Sale
Do
Sep’10
pref
70
2
76
J’ly
Apr
*10
*10
*....
65 Boston & Wore Elec Ccs.
8
10i2 *....
10%
Men
ld2 Sep 3l>
*36
*36
Last Sale 35l2
Do
Sep’iol
pref
35
Aug 29
48
Jau
31
*142
*143
*143
145
145
’*5 Gblc June Ry & USY.100 139 Sep 16 156 Jan
19
110
110
*109
112
Do
32
pref
Oct 3
100 1U9
118
Jan
Last Sale 270
Mch’10
Connecticut River
265
100
Men
270
Mch 16
12512 125*4 ♦12534 128 *12534 128
*95 Fitchburg, pref
126t2 128
124 >4 Sep 21
100
133i2
Jan 3
116
1161
11612 117 *116l2 117 *115
117
40 Ga Ry & Electric.... 100 104
Jail
o
117
Oct
6
*87
...: *87
9 0
Last Sale 8612
Do
85
Sep’10
pref
83
.100
Apr 1
"Jau 1/
*205
iMst Sale 204
Maine Central..
May* 10
Feo 1(
100 202
201
May31
19l2 20
1978 20l4
1934 1978
19%
195g 6,210 Mass Electric Cos___.100
14i4 J’ly 26
26i2Oct 3
84
Do
83l2 84
84%
666
8334 84
75
pref
lOO
J’iy 1
88
Apr .
154
15378 15378 154 154
543 N Y N H & Hartford.100
15414 154
149
154la
Apr 28 162»« Mch U
Lest Sale 140
Northern N H
Sep’10
100 13yi2 Mchll
14l14 Aug25
Ixist Sale 210
Jun’10
Norwich & Wor pret.100 210
Mayl„ 212 Men xt
♦182
*182
188
182
182
*182
190
1 Old Colony
100 lbl*4 Sep 14 LOO Jan
*27
28
27
2712 2712
2812 *27
27
118 Rutland pref.
2o
May
35
Jan
100
*103
Last Sale' 103
*10312
Seattle Electric
Aug’10
100 103
Aug 18 116 Jan
*102
*102
*9934
*9934
103
””2
Do
IO3I4
pref
100
9834 Auv 2 106 Men
168
1685s 1667g 168
652 Union Pacific
16634 1675g *16712 16734
100 153I4 j’ly 26 20412 Jan
Last Sale 9138
*9l7g 92ig *9134 9234
Do
Sep’10
pref
100
sy»4 J’ly 26 103% Jan
*150
160
Last Sale 163
Vermont & Mass
Jun’lOi
100 162
Apr 2i 168 Jan 1/
*84 ’
84"l2 8414 8412 8412 84id 84l2 8434
190 West End St
88
50
Sep 23
95«2Mch t
101
101
*101
10U2 101
Do
113
99
J 'ly ti
50
pref
109
Feb 10
134
134
*____ 288
*_„__ 288
STOCKS
BOSTON STOCK
EXCHANGE
Week
Shares
Friday
Thursday
Oct 5
1001a lOOlg 101 101
101*8 101*8
*100i4 IOU4 ♦100U IOII4 ♦IOOI4 IOH4
219
21812 21812
219l2 220 220
*129
12912 12914 12914 12834 129
210
210
*208l2
+20812
*133
Sales
of the
Monday
117g Aug
14* 2 Dec
90 Dec
69
Aug
170
Dec
36*4 J’no
Jan
99
*
Jan
1*2 Nov
13*2 Feb
~27j jan"
177$ Jan
384 Jan
G8i4 Jan 14
34
Jan
13*8 Nov
67
Jan 12
10^ Jan lo
78 Jan
ll8* Jan
127$ Apr
62
J’ly
9*4 Dec
18i2 J’ly
18
Deo
18*2 May
90
Feb
jan
28
39
Jan
Feb
53ig jan
5i4 J&n
44
4
17*8 Jan
39*2 Nov
59
Sep
«>an
54
46
37*4 Feb
3984 Feb
4H2 Oct
56
Jan
C0i2 Jan
584 Jan 14
15
-60
Jan 14
Jan
384 Jan 14
Ex rignts.
a
3
Oct
Oct
43/ Apr
139
Men
Oct
Oot
6*4 Jan
49*4 Nov
66
6
.
NorDee.
rUfi4 Dee
Aug
158
4
Jan
Ex-dlv. and rights.
O0T. 8
Boston Bond Record
1910.1
ttUA ll»
-
BOSTON STOCK EXCH’ttE
Wcbk EiroDto ocrr 7
Fries
WeeVs
Friday
Mange or
Oct 7
Bta
Am Airrioul Chem 1st 5S..1928
Am Telep A Tei con tr 48.1929
Convertible4s.
1936
Am Wnt Paper let s 16s g 1919
Am Zinc LAS deb 6s.... 1915
Ariz Com Cop 1st conv 6s 1920
A ton Top A 8 Fe gen g 4s.. 1995
J’ly 1995
Adjustment g 4s
A-O
J.J
M-8
J. J
M-N
j-D
A-O
Nov
9941004
92
92
...J’ly 1995 M-N
60-year oonv 4s
1955 J-D
10-year cony 5s.
191« J-D
Atl Gulf AW £ S3 Lines 5s.'69 j-J
102 4 J’ly To 117 4 Feo’10
67*41
884 67
110
FeU'041
*1004 Mar 09
104 4 Oct’08'
112 4 Jan’03'
103
Feb *10!
100 J’ne’01
673*
Boston Elect L oodsoi 6s.1924;M-S
1916 J - J
Boston A Lowell 4s
Boston Co Maine 4Sis
1944 J-J
Boston Terminal 1st 3 4a.l947 F-A
Bnr A Mo Biv cons 6s
1918; J - J
Butte A Boston 1st 6s....1917 A-O
Butte Elec A Pow Istg5s.l95l| J-D
.
M-N
<j-F
C B A h Iowa Div 1st 5&.1919
Iowa Div 1st 4S
..1919
Debenture 5s
1913
Denver Exten 4s
1922
Nebraska Ex.too 4s
1927
BAS Ws 14s
1921
Illinois Div 3 4s..
.1949
Ohio jo By A 8tk Yus 5s .1915
Coll trust retundxng g 4sl940
0b Mil A St P l>ub D 6s.. 1920
Ok M A St P Wis V div 6sl920
Obit A No Mien 1st gu 5s.l93i
Okie A W Mien gen 6s....1921
Concord A Mont cons 4S..1920
Conn A Pass B 1st g 4s...1943
A-O
11103 t>ct *07
984 J’ne’10
1014 Mar’10
F-A
100
A-O
M-N
M-8
j.j
j.j
A-O
J-J
J-J
M-N
J-D
J-D
A-O
Ourrem Jttiver 1st 5s
1926'A-O
DetCr Bap A W 1st 4s... 1946 A-O
Dominion Coal let s 16s..1940 M-N
Fitonburg 4s
1915 M-8
1927 M-8
4s
Fremt Elk A Mo V 1st 6s.. 1933 A-O
994100
101
Bale
100
Mar’10
Oct *09
94 4
944
1024 102 4
111741174
73
3j 63
if
103
103
.
984 984
1014 101*4
994100
99
994
....
1
...-
99
89
....
884
984
104
6^100
Mar’10....
964 J’ne’10....!
964 9834
103 4 Apr *05 ....'
96
Apr*08f....|
133 Mar’09!....
140
1
Apr’05
OB8*
964 964 964
96
......| 944 Aug 10
201 944
Mia
100
97 4
Note—Buyer pays aoorued Interest In addition to the purchase price for all Boston Bonds.
Mange
h
Since
January 4
Aetc Low
Salt
1164
104
102
984 Salt
102
High So Low Htgh
100
6,1 994101
Apr *08
93 4 i‘7
934Mai*10
"
994 Feb’10
994 994
117
113
118
Sep *10
924 Aug’10
i.24 934
91
91
92
Sep *10,
102 4 Sop *10
1102
103
1134 Nov’Orft
1014 Sep *05!
115
3*ne*08:
98
97
09*4
97
Aug'lu *9, 97
994
1024 Ang’04
1014 Sep To
|....j|l00 4 105
Noo
102
Feo’09
•I.
I****l*’*
75
Sale
1.3*4** iso*
75
2
101
Apr ’09
!
984 Sep *09
1134 Aug’10
|
102
1034105
bale
1134 U64
Mi
J-J
J-J
97 4 *ale
155
161
M-N
M-S
M-N
F-A
J-J
J-J
954 bale
984 99
1034 1034
—-1
i'
Mai *02
>
784 Apr’lD ...J 784, 784
103 4 Sep *10
103
1044
95
97
*14
96
964
1554
974
165
104
104
88
1
lOO*, 100*4
**8
994 1014
1084 1094
954 974
1
.....
32 145
166
6 1014 1054
97
984
984 J’ly TO
-•!
1014 J’ne*09
1
984 Apr*10
97
Aug’ 10 ““I
9534
96
944 Jan TO
"*"**!
* No price Friday; latest bid and asked.
110
1
Apr'07
1004 MarTO
1014 1014
1084 Apr’10
J-J
75
79 4
96 4 102
131
135
Sep TO
1034 Sep *10
1074 Aov*05
1024
96
76
99
99
1918 M-S
Gold 4 4s
1914
Goln Ueoenturo 4s
1916
Gold 4s
1017
Western Teleph A Tei 68.1932
Wisconsin Cent 1st gen 4&1949
044 964
or
Last Sale
117
U S Steel Corp 10-60 yr 5s. 1963 M-N
West End Street By 4s....1915 F-A
90
Mange
Oct 7,
Union Pao BB A1 gr g 4s.19-17
20-year conv 4s
1927
United Fruit gen s £ 4 48.1923
U S Coal A Oil 1st s £ 6s.. 1933
99
99
89
Apr*10,
WeeVs
Friday
Illinois Steel deben 6s..„1913 A-O
la Fails ASionx Cist 7s.. 1917 A-O
Kan C Clin A Spr 1st 5s...1926 A -O
Kan C Ft S A Gnlf ext 6s.. 1911! J-D
Kan C Ft Scott A M 6s.... 1928 M-N
Kan CM A B gen 4s.......1934 M-8
Assented income 6s.....1934 M-8
Kan C A M By A Br 1st 5sl929 A-O
Maine Cent cons 1st 7s...1912 A-O
Cons 1st 4s
1912 A-O
Maro Hough A Out 1st 68.1925 A-O
Mass Gas 44s
1929; j J
Miob Telep 1st 5s
1917jJ- J
Minne Gen Elec con g 5s 1929' J.J
New Eng Cot Yam 5s. ...1929 F-A
New EngTeleph 6s
1915'A-O
5s
191A-O
New England cons g 5s... 1945 J-J
Boston Term 1st 4s
1939 A-O
NewBiver (Tho) cony 5s. 1934 J-J
N Y N H A H con deb 3 481956 J-J
Cony deb 6» (ctfs)
1943 J-J
Old Colony gold 4s
1924 F-A
Oreg By A Nav con g 4s.. 1946 J-D
Oreg Sh Line 1st g 6s
1922 F-A
Pere Marquette deb g 6s.. 1912 J-J
Bepnb Valley 1st s i 6s... 1919 J-J
Rutland 1st edn gen 4 4s. 1941 J-J
Butland-Canadian Ist4sl949 J-J
Savannah Elec 1st cons 5s. 1952 J-J
Seattle Elec 1st g 5s
1930 F-A
Shannon-Aria 1st g 6s
1919 M-N
Terre Hante Elec g 5s....1929 J -J
Torrington 1st g5s
l
1124 Jan *03
1004 Ang*09
....
M.192l|Q-J
934
884
924
..J
101
Dec *07
91
1933 A-O
QtNorOB A <4 coll tr 4s 1921 J-J j
1014
99
99
87 4 Sep *10 ..--! 664 834
101
iol4
2 100 10134
10041014 101
Unstampeu 1st 6s
874
112
904 Aug'10....1 89
924
1154 Jan’10....111541154
126 Feb*05 ....’I
99
Msy’10 ...J 99 1004
964100
98
97
90
98
113 4 May’10.—1 1134114
87 4 Sep >10 ....) 85
88
874
M-N
Cudahy Pack (The) 1st g 5s 1924 M-N
Registered 4s
91
994
924
924
2
924 Sep no!—j
94
94
High]
87 4
( 3?
Sep ’10 -—I
90
Sale
1
914273 89
934
10341 52, 994106
87*4 Sep *10....
1114 1114 J
113
111
91
l«!January
Fries
w
Week Ending Oct 7
1024' 24 1004103
.
BOCsU»
BOSTON STOCK EXCH’GE
Since
HighI Aoi Low
Ask: Low
1024 Sale 1014
914 Sale
91
1024 1034 103
Stamped
Cedar Bap A Mo B 1st ‘7s.1916
Cent Vermt 1st g4»..May1920
Last Saly
Mange
?S,
935
*98 *-j
994
97
044
99
044
944
99
1i Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
Share Prices—Not Per Centum Prices
Saturday
Oct 1
124
125
Monday
Tuesday
Wednesday
Thursday
JYiday
Oct 3
Oct 4
Oct 5
Oct 6
Oct 7
89
126
•
••••••
•144
19
*.
.....
.
:
i
;
:
*18
434
434 *
*424 42*4 4234
114
*114 11*4
484
484 484
284
28*4 284
74*4
764 754
74
84
24
244 244
?84
75
294
754
244
934
•ei**
804 814
644 66
44
444
164 16
184 184
•8
434
624
73 4
84
434
824
*924
81
144
♦144
20
*18
94
644
814
664
444
454.
164 16
19
194
734 744
84
fe«i«
43»« 44
824 824
Cambria Iron.
60
Central Coal A Coke. 100
Consol Trac of NJ...100
Easton Con Electric 5.50
n’t Wayne AW V
Germantown Pass
100
Indianapolis St
100
Keystone Telephone ..50
*18
43
20
434
43
U4I
20
43
114
48 4
424 42*«
114 114
484 4s*4
29
284
29
74*4
76
*114 114
43
24* *
754
244
*24*“ '*2*4**
24
841
8*1S
8*is
464
824 824!
434
4534
824
*8
44
Ask
82 4
||1
••••••|
&3
45
*194 ’2(5“
84
8
Bethie Steel 6» 1998.Q-F
Choc A Me 1st 5s 1949 J-J
Ch Ok A G gen 5s T9 J-J
Col St By 1st con 6s 1932
ConTraoof N J 1st 5s.’33
E A A 1st M 5s 1920 M-N
Elec A Peo Tr stk tr otf s
Eq U Gas-L 1st g 5s 1928
834
Indianapolis By 4s. 1933
1064
50
44
5
154
16
......
61*
i‘25**
98
106
109**
******
48
42
*824 *83**
Railways General..... 10
*26“
BBs 4s
••••••
••••••
*104 Vi 4
35
37
624
94
•Bid and asked; no sales on this
day.
884
g.....l914.<4*F
Gen M 44s g.l924.U-P
Leh V C 1st 5s g ’33..J-J
Leh V ext 4s 1st1948.J-D
2d 7s 1910.
M-S
Consol 6s 1923
J-D
Annuity 6s
Snsqneu Iron A Steel..6
Ask
109
••••••
118
....J-D 1164
Gen cons 4s 2003.M-N
Leh V Tran eon 4s ’35J-D
1st series B 6s 1935.M-S
New Con Gas 6s 1948 J -D
Newark Pass eon 5s 1930
904
97 4
191**.
•
100
••••
9*9**
NY PhA No 1st 48 ’39 J-J
income 4s 1939...M-N
NoOhioTrao conisT9.J-J
Penn Cons 6s 1919 ..Vac
Penn A Md steel con 6s
Pa A NY Can 5s ’39.A O]
Con 4s 1939
A-O
Penn Steel 1st 5s T7 M-N
1024
People’s Trtr eerts4s *43
POo IstA Col tr 50*49 M-S
1024 LU24
ConAOoitr6s 1951 M-N
Phil Elec gold trust ctfs.
Trust certlfs 4s.
P A E gen M 5 g *20. A-O
Gen M 4s g 1920.. A AO
1! Ex-rights.
|| $13 paid.
1014
76
ioi‘4
764
1074
1004
M5124 paid.
414 J’ly 21
404 J’ly 26
114 J’ly 29
60
42
J’ne3u
*134 9*00 3
15 Apr 28
634Jan b
164 MarlS
284Jan 3
654 JTy2b
b 4 J anj 414 J’ly 26
79 J’ly 2b
86
94s May 13
524 Jan 3
954Jan 10
Feb la
96
67
48
Deo
144 Deo
43
48
Jan
Deo
494 Deo
124 J’ly
63 4 J’ly
334 Deo
844 Deo
15
Apr
33 4 May
125 4 Deo
113 Sep
754 S«P
614Deo
Jan
Feb
634 Feb
404 Feb
114 Fob 14 4 Deo
244 Jan 364 Apr
59 4 Feb 864 Sep
54 Jan 7i»ia Mar
504 Jan 584 May
844 Ma> 954 Deo
|
City A Sub 1st 6s. .’22 J-D
City A Snb( Was)lst5s’48
CoalA 1 Ry 1st 5s’20F-A
Col AGrnv 1st 68.1916 J-J
Consol Gas 5S..1939 J-D
J-J
‘*9*74 98 4 Ctfs indebt 44s
Cons GX AP44s*35.J-J
1014
FalrA CiTr 1st 5s’38.A-0
**714 GaA Ala 1st con 5s ’45J-J
GaCar AN 1st 5s g’29 J-J
804 81
Georgia P 1st 6s...’22 J-J
GaSotA Fla 1st 5s 1945J-J
894 G-B-S Brew 3-4s 1951M-S
2d income 5s 1951 M-N
Knoxv Trac 1st 5a *28A-0
LakeR El 1st gn5s’42M-S
100
Bid
Ask
1054 107
101
1014
994 1004
1064 1074
1074 1084
*8*34
30
65
2*3*6“ 2*1*5*
4
125
6
14
17
115
50
’*02*4 *95“
14 ~24
♦•♦•••
Bonds
JPrices are all “ and
interest.**
Anaoostia A Pot 5s.
Atl Coast L(Ct)otfs 5s J-D
Ctfs of Inoebt 4s....J-J
6-20 yr 4s 1925
J-J
Balt CPass 1st 5s *11 M-N
1004 101
Macon ByA Ltlet5s’53J-J
Memphis St 1st 5s’45 J-J
Metst( Wash)lst5s’25F A
964
1U34 1044
1044 1064
1134 116
1064 108
42
424
6
95 4
Fundg Ss.1916 M-N
Exchange 34a 1930 J-J
ieo*4
724
90
82
105
NptNAO P 1st 5s’38 M-N
Balt A P 1st tsml’ll A-O
BSPAC 1st44s ’53F-A
Balt Trao 1st 6s..'29 M-N
No Balt DiV 5s 1942 J-D
CentT By oon5sl932 M-N
Ext A Imp 68.1932 M -S
Chas City By 1st 5s’23 J-J
1094
106“
107 4
105
106
8841
mmawrn
WesVaOAP 1st 6g* 11 J-J
WU A Weld 5s..1935.J-J
90
84*«
854
624| 624
84^ 844
1004 100 V
Funding 6s 1936...J-D
••••••
824
109
102
103
104
......
107
724
92
1044 1054
By A El 1st 4s *49 M-S
Income 4s 1949
J-D
Va Mid2a ser 6s Tl.M-S
3d series 6s 1916.. M-S
924 934
4th ser 3-4-5s 1921.M-S
1004
6th series 6e 1926. M-S
93
924
106
Va (State) 3s new ’32.J-J
107
Fund debt 2-3s 1991 .J-J
109
110
103
West N C con 6a 1914 J-J
105
964
97 4 984
106
108
Un
88
100
104
8
102
Mt Ver Cot Duck 1st os.
Nor APorTr lst6s*36 J-D
Norfolk St 1st 6s ’44..J-J
N orth Cent4481925 A-O
Series A 5s 1926....J-J
Series B 5s 1926..„J-J
Pitt Un Trao 5s 1997.J-J
Poto VaL 1st 5s 1941.. J-J
Sav Fla A West 6s *34 A-O
Saab A Roan 6s 1926. J -J
South Bound 1st 6s..A-O
U El LAP 1st448*29 M-N
844
96
......
Georgia Sou A Fla... 100
1st pref
100
2d pref
100
G-B-S Brewing
100
i $35 paid,
284 Dee
Feb
Feb
Feb
BALTIMORE
j
1154
sf os 1926
M-N
UTrac Pit gen 5s *97 J-J
Welsbaeh s f 5s 1930. J-D
Wlks-B GAE oon5s’55J-J
BALTIMORE
Inactive Stocks
Ala Cons CoalA Iron. 100
Pref
100
Atlanta A Charlotte.. 100
Allan Coast L (Conn) 100
Canton Co
100
Cons Cot Duck Corp.-.50
ChaaRy G A El 5a *99 M-8
Ask
*9*9*4
Spanish-Am Ir 6s ’27 J-J
UTrac Ind gen 5s’19.J-J
Un Bys Tr olfs 4s’49J AJ
United Bys Inv 1st coll tr
*$134 paid,
28
Mar 48 Dee
Mar 89 May
Jan 1214 Deo
Chari C A A 2d 7s’10 A-O
Balt
96
154J’Jyl6j
17 4 Sep 19
Bid
Ph A Bead 2d 5s *33.A-O
Con M 7s 1911
J-D
Ex Imp M 4s g *47.A O
Terminal 6s g 1941. Q-F
P W A B cpl tr 4s ’21. J-J
Portland By 1st 5s 1030.
Boch RyA Leon 5s ’54J-J
Preferred
30
76
Feu28 100
274Jan 3 114
47 Jan 8 224
04
61lli0 J’ly 2 b 69*xekiar 9
Tonopah Mining
PHILADELPHIA
May23
J’ly 14
86 J*ne3u 123
Jan 7
62 4 J’ly 27 1214 Mario
19,774 Union Traction
1,447 United Gas Impt.......
io3**:::::
1004
Tidewater Steel.
Id
PrewTred
4,
.10
Union Tr of Ind
100
United N J BB A O.. 100
Unit Trac Pitts pref..60
Warwick Iron A bteel.10
Welsbaeh Co..........100
West J ersey A Sea Sh.$0
Westmoreland Coal....50
Wilkes Gas A Klee..];0o
975
......|l ID
88
Lenigh C A Nav tr ctfs.
Lehigh Valley
Pennsylvania KB.
Philadelp’aCo (Pittsb j.
Philadelphia Electric ||.
Phils Rapid Transit...
2,928
2,622
2,924
42,528
16,73* Beading
BergA EBrw 1st 6s’21 J-J
••••••
Interstate 4s 1943 ..F-A
100
Preferred
Phila Co (Pitts) pref.
Phil German A Norn
Phila: Traction.........60
12*,35*5
09
Lehigh Nav 44s T4.Q-J
Pennsyl KB receipts....
Pennsylvania salt.....50
Pennsylvania creel..100
84
60
90
132
| Highest
Lowest
Jan 3 25
Dec
Jan 6
444 J’ly
534 Jan 10 324 Feu
12 4 Jan 14 £104 Jan.
42
J’ne39 644 Marll
43
Jau
194 J’ly 26 344 Jan 29 15 4 Jan
64 J’ly 26 644 Jan 10 63
Jan
7
94 Jan
J’ly 6 13 »an lo
154 J’ne3o 28'« Jan 3
144 Jan
*
24
Bid
50
Preferred v t c
60
Lit Brothers......
10
Little Sohuyikiil
50
Minehlli A Schuyi H..50
N Haven Iron A steel.5
50
Northern Central.
North Pennsylvania..50
49
29
▲mBysoonvds 1911.J-D|
45 4 Atl City 1st 6s g *19.M-N
......
25 American Cement
53 American Railways....
1,8 98 Cambria Steel
25 Electric Co of America
924 Elec Storage Battery.. 100
1,457 Gen Asphalt tr ctis ....100
Do
1,121
pref tr ctfs ....100
43 i Keystone Telephone... 60
3,034 Lake Superior Corp....100
.
Bonds
Brices are alt *• and
interest.**
Alt ALVEIeo 4 4s’33.F-A
Am Gas A Elec 5s’07. F-A
Mar21
Do
Philadelphia
20
43
*924 94
•924 95
794 81
8O4 814
65
654
644 65
454 464 ♦454 46
154 154
154 154
18 »a 194
184 194
73 73i 4e
734 73»ie
84
84
84
84!
414 43V
414 424
824 824
824 824
PHILADELPHIA
46
Highest
...
154
*8
Year (1909)
.
744 744
Key st one Watch Case. 100
Leh Vail Tran v to...50
Preferred
20
40
414 424
*114 11*4
•48
29
Mange for Previous
Jan J
pre£
100! 80 Marl l
1,051'Northern Central...... 50115 Jan 8
Seaboard (new)
100 j 84 J’ly 29
Do
2d pref........100 41
J’ly 27
1,460 United By A Electric.. 60 124 May 3
12
1264
♦19
20
43
42
484 484
284 284
*74.4 754
94
•924 94
804 814
814 814
65
654 64uie 654
464 45V 454 464
154 154
164 154'
19* 21
194 204
734 744
734 »4*i0
......
♦13
43
42
60
Mange Since
Lowest
Baltimore
200 Con. Gas EL L. A Pow.100
90
144
144 144
*
2*4
50
100
Indiana Union Tr
Insurance Co of N A.. 10
Inter Sm Pow A Cbem.50
144
—.
•92
Bid
lime live Stock*
Amai Asbestos Corp. 100
100
Preferred
American Milling
10
Amer Pipe Mfg
100
I Beil Telephone (Pa). 100
'
1254 1264 126 4 *125
20
204 ’
...
PHILADELPHIA
1
60
*89
126
*19
*39
40
19
11*4
484
78*ie
126
•19
144
•114
484
*24**
20
*38
144
••••••
424 424
;
19
89
125 4
ACTIVE STOCKS
ISales
,0/ the
Bonds and Inaotivc
(Jfor
I Week
Stocks see belowj
\Shares
-
84
84
104
86
85
•maaaa
1004 1084
108 110
'
••«♦•»
a Receipts.
5323 paid. c$.;o paid. d$124yaid.
i-v
936
.li.'l-.i,
.$4 iitXj '-.A,
'J-
THE CHRONICLE
Volume of Business at Stock Exchanges
hieciric Companies
Chic Edison Qo—See Chi
Gt't West POw 5s '46.J-J
Kings CO El LdsPCo 100
Narragan (Prov) El Co.5u
NYdsu E! L dsRaw Co lOo
Preferred
lou
United Elec of N J...100
1st ft 43 1949
J-D
Western Power cocfi.lOO
Preferred
_iou
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY; WEEKLY AdD YEARLY.
;
suKkS
Week ending
Oct. 7 1910
Railroad,
Shares.
Par value.
t7. S.
State
Bonds.
<&c..
Bonds.
iV'OL.
Bonds.
.....
Saturday
Monday
148,839
565,469
438,463
493,515
328,019
270,996
Tuesday............
Wednesday
Thursday
Friday
Total
$13,621,400
51,351,900
$1,135,000
38,556,300
1.957.500
44,274.000
29.522,650
23,9/7.050
2.799.500
2.304.500
1.765.500
•
$49,000
168,000
39,000
148,000
54,000
90,500
1.825.500
Amer Tel eg ds Cable. 100
Central ds So Amer.,100
Co mm'I Un Tel (N Y). 25
limp ds Bay State Tel. 100
Franklin
lOo
Goid ds Stock Teles. 100
e
$548,500
Northwestern Teleg. 50
Pacific ds Atlantic
25
ePac 'Teiep ds Tcleg pf .100
Southern ds Atlantic.. 25
-
Sales at
New York Slock
Week ending Oct. 7.
Exchange.
1910.
Blocks—No. shares..
Jan. 1 to Oct. 7.
^
1909.
1910.
1909.
2,245,301
6.014,171
132.407.275
163,512,109
$201,323,300 $565,428,300 $11,874,799,300 $14,954,572,750
$20,700
$2,200
$141,150
$892,000
Par value
Bank shares, par....
Bonds.
Government bonds..
State bonds
ER. and mlsc. bonds.
\
Total bonds
$548,500
11,787,500
$48,000
$575,500
26,918,500
$327,200
36,230,450
459.357,700
$487,200
30,134,900
1,028,223,600
$12,336,000
$27,542,000
$495,915,350
$1,058,845,700
.
DAILY TRANSACTIONS AT THE BOSTON AND
PHILADELPHIA
8
Ferry Companies
ds
N Y 1st 6s 1911.J-J
Y ds E R Ferry stk.100
1st 5s 1922
..M-N
NYdsiJob 5s May '46.J-D
Hob Fy 1st 5s 1946 M-N
N Y & N J 5s 1946
J-J
lOtb ds 23d Sts Ferry. 100
1st mtge 53 1919
J-D
Union Ferry stock..100
e 1st 5s 1920
M IS
Saturday
Monday....
Tuesday
Wednesday.
Thursday
..
Friday
Bond
sales.
Listed
shares.
$34,000
57,000
143.500
63.000
157.500
85,000
14,179
Unlisted
shares.
4.848
1,951
9,389
7,638
9,924
4,936
4,320
20,199
36,506
26,394
22,203
11,941
^
Clg
ser
88
50
78
8)
e
7V*.
duPont(EI)deNemPo 10>
40
73
75
7614
31*2
5212
79
116
105
65
40
100
105
60
91
90
DavL*-Da!y Copper Co-1-
3 i
54
93
20
55
97
104
95
30
65
26
93
56,600
42,100
46.700
56.800
44.800
l
ludson Companies—
6s Oct 15 1911
6s Feb 1 1913
A-O
F-A
I
105,193
74,073
$540,000
122,091
38,158
$264,500
Outside Securities
AU bond prices
are
now
Street Railways
New YorkCUy
Bid
j Blceck St ds Ful F stk.100
1st mtge 4s 1950 ..J-J
IB’y ds 7th Ave stk ...100
2d mtge 5s 1914 ...J-J
:
i
16
52
115
98
Exc
Con 5s 1943—See Stock
B’way Sari 1st 5s gu 1924 102
Cent'i Cro-ist'n stk ...100
1st mtge 6s 1922 ..M-N f 80
OenPkN & E Rstk.-lOO
is
ChFt’r & 10th St stk.. 100
80
j Ool ds 9th Ave 5s See Stock
i
"and interest” except where marked **f.M
Exc
95
j
Scrip 5S 1914
F-A f 30
Eighth Avenue stock. 100 250
!
Scrip 63 1914
F-A 1 95
; 42d & Gr St F’y stk —100 200
■
42d St M. ds St N Ave.100
1st mtge 6s 1910.M-S
2d income 6s 1915.J-J / 25
Inter- Met—Sea Stk Excb ange
Lex Av ds PavF 5s See Stk Exc
Metropol St Ry—See Stk Exc
Ninth Avenue stock..100 155
Second Avenue stock. 100
10
1st M 5s’09 ext '10— M-fS
9934
Consol 5s 1948
F-A / 50
.
.
1
21
60
140
100
.1st
103
90
85
27
90
list
Rapid Tran St Ry..l00
1st 5s 1921
A-O
J C, Hob & Paterson—
4S
|a Sixth Avenue stock.. 100 HO
SOU Boulev 5S 1945...J-J
60
(So Fer 1st 5s 1919...A-O
88
i Third Avenue—See Stock
Exc
!
Tarry VV P ds M 5s 1928 / 50
YkersStRR5s 1946 A-O
75
I 28th & 29th Sts 5s '96 A-O / 15
! Twenty-third St stk
100
Union Ry 1st 5s 1942.F-A
Westchest 1st 5s '43 J-J
190
100
05
100
40
320
100
220
M-N
fist
Cora vot tr ctfs.__.100
a Preferred
100
Gen 4s 1934—See Stock
list
list
UnitRys San Fran See Stk
Wash Ry & El Co....100
__
Preferred
4s 1951
180
16
100
J-D
72
103
106
235
103
97*4
lOOlgJ
97
97
60
130
85
92
list
80
85
30
215
102
75
‘
103
102
170
fist
100
Gas Securlt’es
'
New York
Cent Un Gas 5s 1927 J-J
Con Gas (N Y)—See Stk
a Alutual Gas
100
New Amsterdam Gas—
1st consol 5s 1948
J-J
NYdeERGas 1st 5s '44 J-J
Consol 5s 1945
J-J
N Y ds Richmond Gas. 100
N Y dc WcstchesterL'ht'g—
k
_
Deb g 5s 1954 guar.J-J
Nor Un 1st 5s 1927..M-N
Standard Gas com
100
a
Preferred
1st 5s 1930
a
100
M-N
Other Cities
Am Gas ds Elec com
50
Preferred
C9
50
97*p Amer Light ds Tract. .100
list
Preferred
100
75
Bay State Gas
50
83
Blugh ton (N Y) Gas Wks
80
1st g 5s 1938
A-O
100
fist
Brooklyn Un Gas—SeeStk
Buffalo City Gas stk._100
1st 5s
105
list
92
106
105
105
101*2
102 V
75
79*2
Ust
91
*105
105*2
23*1
59*4
-1st
no
100
76
1947—See Stock
Cities Service Co
lou
Preferred
loo
Con Gas of N J 5s '36.J-J
Consumers’ L H & Pow—
5s 1938
J-D
Denver Gas ds Elec
.100
Gen g 5s 1949 op.M-N
Elizabeth Gas Lt Co..100
Essex ds Hudson Gas. 100
Gas ds El Bergen Co__100
-
*
snare,
o
Basic.
-
98
tier's-Hall-Mar. uew.lOo
doooken Land & Imp lOo
106
98
40
76
e 5s 1910
Houston CM1
29
97
Preferred
Hudson Realty
0 Sells on Stk
Ex
,
out not very active
85
88
45
90
99*£
9734
10Q*
98
98
3
5
8
12
60
103
30
105
45
M-x.
997fl
100
5
35
lOo
lio
Ingersoll-Rand coin.lOo
95
10 i
lOo
...
Preferred
liK
97
99*4 99*4
99*2 100
tk Ex
1st
140
.....
Lawyers Mtge Co_._.10o
237*2
Leh & Wllkes-B Coal. 00
Lortfiard (P) pref...100
Madison Sq Garden..100
2d 6s 1019
M-
225
135
35
85
e
_
J::::
.
*1
*8
*
20*4
110
100
265
*201g
VIS
-Tf-
— _
-mm
18
40
Exc
100
25
7J
195
*4
97
♦1012
2*8
-
49
92
*23
....
Exc’
55
i5
100
145
45
*40*2
285
102
4ll2
295
104
llie
Preferred
1QU
Deo g 6s 1939
M-N
Amer VVritlng Paper—100
Preferred
...100
1st s t g 5s '19 op ’09 J-J
A MGf & WlndSSL' nes. 100
Preferred
100
Col tr g 5s 1959
J J
—
...
95
Exc
98
list
5
3*2
Exc list
69*4
76
93
110
180
90
300
136
75
95
135
33
64
13
7 L*4
96
92
/
139
77
102
139
35
65
85
92*2
100
100
108
130
98
104*2
57
88
90
102
2
25
87
9
19
67
Barney dc Smith Car..100
Preferred
100
Bethl’m Steel Corp—See S
Bliss Company com.. 50
Preferred
50
Bond ds Mtge Guar...100
Borden's Cond Milk
100!
...
Preferred
...100
British Col Copper...
5
Butte Coalition Mining 15
Casein Co of Am com. 100
Preferred
100
...
190
98
97
Casualty Co of Amer.. 100
102
100
3
27
87*2
10
20
68*2
40
90
tk Ex
124
118
235
111
103
*7
100
list
130
122
245
113
1U4
*19*4
20
2*2
56
125
Celluloid Co
...100 127
Cent Fireworks com..100
Preferred
10U
Central Foundry
.100
Preferred
100
Deb 6s 1919 op '01.M-N / 35
Chesebrough Mfg Co
100 700
7*8
65
140
130
...
City Investing Co.—.lOO
62
Preferred
....100 103
Claflln (H B) com..100 10)
e 1st preferred.....100
90
e 2d preferred
94
100
Col & Hock CoaldsI pf 100
1st g 5s 1917
J-J / 45
Col tr 6s Oct 1956—J-J / 45
3
Consol Car Heating.
100
39
40
67
108
106
‘.5
98
42
8
50
80
113
112
140
200
112
ioi*s
38*2
92*4
* 51*
245
275
145
45
T
20*4
115
105
276
60
fist
35“
80
205
5
102
10*4
l13ie
2*2
52
94
23*4
841*4
list
60
SO
105
150
U8
190
103
125
195
107
127
*
2/0
9
18
AY
73
IOO" *
n
Nominal.
s
Sale price,
x
“
300
11
21
U
20
5
40
Tonopab Min (Nevada)
1
Trenton Potteries com 100
Preferred, new
loo
Trow Directory
100
Underwood Typow pf 100
Union Typewriter com 100
1st preferred
.100
2d preferred
100
United Bk Note Corp. 50
Preferred
50
United Cigar Mfrs__..100
a Preferred
100
United Copper
100
Preferred
loo
U S Casualty
100
U S Envelope com...100
Preferred
..100
U S Finishing
100
Preferred
100
1st g 5s 1919
J-J
Con g 58 1 92 9
J-J
...
*8*8
4
45
20
99
4*2
45|
15
215
50
10.4
95
106
100
95
112
100
111
105
100
114
114
85
Exc
115
116
105
list
16 J
170
141
1st
110
U S Steel Corporation—
Col tr s f 5s '51 opt ’ll
Col tr s f 5s ’51 not opl
U STit Gu & Indem__100
a Utah Copper Co—Nee Stk
Westchester & Bronx Tit
<5g Mtge Guar
.100
Westlngn’se Air Brake. 50
West El & Mfg 5s—SeeStk
Worthing Pump pref-lOu
s*
55
30
100
42
44
103
106
102
105
*42*2 46
*50
72
59
60
100
1C 8
r
Exc
107
20
93
Flat price
•
T
16
iY“
Pre'erred
100
52
1st 5s 1930..:
M N
85
"87“
Standard OU of N J..100 596
602
Swift & Co—See Bost Stk Exc list
1st 5s—S'-c Cine Stock
Exc list
Texas Company—See Stk Exch list
a Texa3 & Pacific Coal 100
100
105
Title Ins Co of N Y...100 140
145
...
3*2
92
93
114
__
*43
108
international Nickel —100 137
Preferred
lOo
89
1st g 5s 1032
A-o
90
International Salt
6
..10o
1st g 5s 1951
A-O f 45
International Si'ver..l00
50
Preierred
...100
lo7
1st 6s 1948
..J-D
110
internat Smelt & Refg 100 130
internatilmo Record. 10v 175
Preferred
lou 1j7
Jones & Laughtln Steel Co
1st s f g 5s I939..M-N
101
jLackawanna Steel... 100
t 1st con 5s 19oo
85
M-.
c Deb OS 191
91*4
La ns ton Monotype
100
84*2
...
100i2 100*4
37
29*2 30
105
95
—
wm
—
Gr Rap 1st 5s '15.F-A
Hudson Co Gas..
..100
Indiana Lighting Co
100
4s 1958 op..
F-A
50
Indianapolis Gas
1st g 5s 1952
A-O
79
Gas
Jackson
5s g '37.A-0 / 88
e Laclede Gas
100
99*2
c Preferred
100
85
Madison Gas 6s 1926. A-O 103
Newark Gas 6s 1944..Q-J
128
Newark Consol Gas. .100
98
e Con g 5s 1948
J-D 103*2
No Hudson L H ds Pow—
5s 1938..
A-O no
Pacific Gas ds E, com.100
56
Preferred
...100
85
Pat ds Pas Gas d; Elec. 100
85
e Con g 53 1949
M-S 100
St Josenh Oa«»
1937 T-|
88
a
190
35
Prei erred
_10o
1st g 5s June 1 '22 J-D
rlecker-Jones-Jewell Mil
1st 6s 1922
M n
97
28
65
....
—
634
175
-
—
Yog.
12«
vi
*6V
Hackensack
water
Co
Ref g 4s '52 op '12..J-J
dall Signal Co com
lOo
Havana Tobacco Co-.10j
9978 100*8 mtercontln't'l Rubber.lOu
93 x 98i2 Lnteruat't Bank'g Co. too
internat” Mer Mar—See ^
y<M»4 39
95
99
12*4
77!- 77^4
*2 ‘
2*8
s86
87
145
150
82!2 84
82
84
20
25
n60
70
10
15
65
90
100
100
105
tk EX list
Guggenheim Explor'n 100
93
100
Ask
3*2
LO
3*1
e
98
99
11. g ~
rx
9J
10
l NYC Lines Eq 5s'10-22 54.60 4.3
4s Jan 1911-1925...
64.6J 4.30
/ N H & H 5s '10-'U 100
,01
St L ds S F44s* 12op.F-A
97 2 93
5s Mch 1 1913
M-S
96
*7*2
South Ry g 5s 1913..F-A
97*4 98*4
Tidewater 6a. 1913 guar
Wabash 4 4s 191„_._M-N
West'Teiep ds T os '12.F-A
VVestlngh'a EldsM 6s 1913
5% notes Oct 1917.A-O
IOj
.....
1936...J-D
Railroad
Manhattan Transit... 2u
eChlo Gt Wcom tr ctfsLSee St OOk Exc Mononganela R Coal.. 50
ePreferred tr ctfs../
Preferred
list
5u
Ohio Peo & St L—
Mortgage Bond Co
10u
74*2 75*2
Pnor hen g4 4s’30. M-Sl; 85
Nat Bauk of Cuba
10i
130
Con mtg g 5s 1930..J-J Nat't Surety.....
50
lOu
97
9S12
Income 5s. July 1930..
e Nevada Cons'd Copper 3
5
102
Nev-Utah Min & Sm. lu
Chicago Subway
100
4*8
102
Kan dsCol Pac 6s 1938.F-A 110
2u
111*2 a New Central Coai
98
Nat Rys of Mexico—see S t Exc list
N Y Air Brake 6s—See Stk
115
North’n Securities Stubs.
N
Y
Biscuit
6s
95
105
1911 _M*2»
100
Pitts Bess ds L E
e New York Dock
50 *30
1 ou
35
lcago list"
Preferred
50
a Preferred
100
*62l2
72*2
'lbl
102*« e Railroad Securities Co—
N Y Mtge & Security.loo
100
95
1U C stk tr ctfs ser A 52
N Y Transportation.. 2o
90
Seaboard Company—
Nlles-Bem-Pond com.lOo
8
878
1st preferred
ilOO
75
Nlplssing Alines
72*2
4012 4u34
Com ds 2d pref—See Bal t Exc list
Jhio Copper Co...
lu
EXC fist
Seaboard Air Line—
.
e Ontario S Iver
lUu
Exc list
Coll 5s ext May ’ll.M-S
Otis Elevator com
100
lOu
32
32*4 West Pac 1st 5s '33_.M-S
Preferred
10»
9l;* 94*2
88*4 88 b
Pittsburgh Brewing.. 5u
83*8 83:V
Industrial and Mi seel
Preferred
Adams Exp g 4s 1947 J-D
90
91
Pittsburgh Coai—See Stk
Ah meek Mining
....25 *185 190
Pope Mfg Co com
10o
Alliance Realty
Pref erred .....
...100 120
125
lou
American Book
Pratt
.100 150
6s
155
Whitney pret.lOu
100
101*2 American Brass..
100 118
Producers Oil
120
10o
Exc list
American Chicle com. 100 220
225
Realty Assoc (Bklyn). 10
158
166
Preferred
100
98
101
Royal Bak Powd com.lOu
Am Graphophone com 100
Preferred
5
100
99
Preferred
10112
100
Safety Car Heat & Lt.ioo
I8I4
102
104
Amer Hardware
100 117
Seneca Mln’ng
120
25
98
1U0
Am Malting 6s 1914
J-D
99
101
Singer Mfg Co
lou
40
50
Amer Press Assoc’n__ 100
South Iron & S com
95
105
lOo
Am St Found new—See S tk Ex list
Preferred
loo
99
6s 1935
10U2
..A-O 100
Standard Cordage....lOu
99
101
Deb 4s 1923
F-A
68
1st M g 53 '31 red. A-O
70
50
American Surety
Adiust M 5s Apr 1 1931
...
50 203
208
75
American Thread pref
5
*4*2
5*4 Standard Coupler com 100
102
108
Am Tobacco Co com..100 410
Preferred
4.5
...100
Amer Typefders com. 100
Standard Milling Co
39
42
100
...
L. *
73
104
107
245
Preferred
Gold 4H9
...
Other Cities
Buffalo Street Ry—
1st consol 5s 1931..F-A 103
Deb 6s 1917
A-O 103
Columbus (O) St Ry..l00
91
s
Preferred
100
Co turn Ry con 5s—Ses Phi la list
Crosst'wn 1st 5s ’33 J-D 100
a Conn Ry ds Ltg com. 100
73
e Preferred
.100
77.
1st ds ref 4 4s—See Stk Exc
Grand ltapids Ry pref.100
88
eLouisv St 5s 1930
J-J 1043
Lynn ds Bos 1st 5s '24 J-D 104
a New Orl Rys & Lgt.100
23*t
e Preferred
100 ,531?
Gen M g 4 4s '35—See S tk Ex
Pub Serv Corp of N J.100 109
Tr ctfs 2% to 6%perpet
98
North Jersey St Ry.100
60
|
1st 4s 1948
M-N
75
1949
So J Gas El & Trao.lOO
Gu g 5s 1953...M S
No Hud Co Ry 6s 14 J-J
5s 1928
J-J
Ext 5s 1924
M-N
Pat Ry con 6s '31..J-D
2d 6s opt 1914..A-O
So Side El (Chic)—See Ch
Syracuse R T 5s '46..M-S
Trent P dt H 5s 1943.J-D
United Rys of St L—
Brooklyn
Atlan Avenue RR—
Con 5s g 1931
A-O 101
B B & W E 5s 1933..A-O
97
Brooklyn City Stock 10 160
Con 5s—See Stk Exch ange
Bkln Hgts 1st 5s 1941 A-O
97
Bkln Queens Co ds Sub—
e 1st g 5s *41 op *16_J-J
elstcon 5s ’41 op’16 M-N
951;
Bklyn Rap Tran—See Stk Exc
Coney Isl & Bklyn..100
60
1st COM3 g 4S 1948..J-J
78
i
Con g 43 1955
J-J
75
i
Brk C & N 5s 1939.J-J
95
Kings C El 4s—See Stock Exc
Nassau Elec pref
100
5S 1944
...A-O 103
1st 4s 1951—See Stock Exc
N W bg & Flat 1st ex 4 4s
87
Steiuway 1st 6s 1922..J-J 103
'
g
Ask
Bid
Pub Serv Corp N J (Cton)
Cons Tract of N J..100
1st 5S 1833
J-D
New'k PasRy 5s ‘30 J-J
Dry D E B & B—
1st gold 5s 1932...J-D
Street Railways
Ask
e
a
Bii
....
102*n 102*2
t
Match C0.IO0
Electric Boat
10u
Preferred
1080
Empire Steel
1 Oo
Preferred
IOj
117*2
? General
Chemical
lOo
e Preferred
10<Goldfield Con Mines See S
59
Gold Hill Copper
112
1
112
Greene-Cauanea
2o
———'•*
Total
Diamond
e
A 4s '11..M S
Ser B 4s Mch 15 '12 M-S
alt ds Ohio * Hs 191 r .J-D
Bond
ethleh steel 6s '14..M-N
sales.
1 hie ds Alton 5s '13
M-S
(_ in Ham ds D 48 1913.J-J
$17,500 C C C ds St L 5s, June '11
Philadelphia.
6.349
14,343
15,983
13,173
10,046
4.295
21,809
15,491
21,852
19,399
22,347
123
85
Short-Term Notes
m
Unlisted
shares.
120
e
Boston.
Listed
shares.
Industrial and Mi seel
Consol Rubber Tire..lOo
prfe'ret-rca
.10
Debenture 4s 1951 A-f
? Cruel bifc Steel
JO
e Preferred
10c
list
87
.
EXCHANGES.
Week ending
Oct. 7 1910.
*
Ask
83
ca«ro
Telegraph and Telephone
e
>
$11,787,500!
2,245,301 $201,323,300
Bid
LXXXSX.
ex-(1iv.
^
Ex-rigUL.
3 .\cw
stock.
i|>«- ;
.
/i
■
tt $Y'l
lONICLE
oor. s 19m
••X'SlI
|n\iestirttent and
■»
V
,1
-
txtetltgence.
^^*^^^^^**^^*^^***^^*—~.-^r-«^-irirunni^runj^AnnA
HA1LKOAD
GrtOSS
EARNINGS.
froni
The following table shows the gross earnings of every STEAM railroad
which regular weekly or monthly returns
The first two,columns of figures give the gross earnings for the latest week or month, and the last two
be obtained.
columns the earnings for the pofiod from July 1 to arid including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those roads whose
year does not begin with July, but covers some other
ean
fiscal
:
"» *■ '
«
»•
ROADS
July 1 to Latest Date.
Ala A Vicksburg.
Vicks Shr St Pac.
Ala Tenn St North!
Atc’fl Topeka So S Fe
Atlanta Blrm & At!.
Atlantic Coast Line
a Baltimore & Ohio
B & O Ch Ter ER
Sep
Sep
2d wk
2d wk
Previous
Year.
Current
Year.
Ala N O & Tex Pat
N O & Nor Bast. 2d wk Sep
Current
Year.
Previous
Year.
85.000
03.000
699.685
614,856
29,000
33,000
350,360
807,276
1
27,000
27,000
314,855
266.648
8.590 I
0,466
15.479
11.261
9.069,369 8,959*839 17.090,898 16,702a 14
.
August
August _i_
50,513
3d wk Sep
48,990
529,786
587.598]
2,069,750 1,794,563 4,217,814 3.657.603
August
7,652,169
550.0150
16,097,793
3u
14,744,310
August
93.650
136,047
136,047
93.650
July
226,0*2
443,384
229,22 ;
445vl3iJ
August
Bangor St Aroostoo
4,385
13,914
Bellefonte Central
8,574
August
7,281
Boston St Maine-.. August
[4,202,360 3,952,534 7,953.596 7,674,901
5.895
5,224
5.895
5,224
Bridgeton & Saco ft July
Buff Roch St Plttsb 4th wk Sep
253,234 2,547.626 2,455*907
284,978
...
=-
204*579 2.212.437 2,298,977
June
200.947
SuSq
375,900 3,588,000 2.727,400
Canadian Northern 4th wk Sep
453.300
4th wk Sep 2,933,000 2,763,000 27.239,546 22,715,015
Canadian Pacific
343.300 ! 342.500 3,046,844 2,805,683
Central of Georgia. 4th wk Sep
Central of New Jer. July .*
2.317.508 2,196,010 2,317,508 2,196,010
341,790
668.774
Central Vermont.
349,487
623*816
August
1.71C
21,544
18,22.
1,47
Chattanooga Sout h id wi Se673.999 7,585,195 6,916.302
Cites St Ohio Lines. 3d wk Sep
711,073
330,692 3,556,779 3,293,503
Chicago St Alton— 3d wk Sep
330.572
'
Buffalo &
....
-
'
-
■
Chic Burl St Quincy August
pGhlc Great west 3d wk Ser
Chic Ind As Loulsv 4th wk Sep
Chic Ind As Southern —See New
Ohio Milw St St Pauk.1July
Ch MU St Pue Sd. July
Chic & North West. August
Chic St P M St Om
August
Cln Ham As Dayton August
Clev Cln Chle Sc St L
See New
.
..
8.360.838 7.900,803 15,454,409 14.726.611
2,620.647
313.10--" * 278,860 2.011.4U
154.557 1,705.300 1,544,491
167,521
York Cen tral.
3.341,530 5.210.458 5.941.536
1,142,072
1.142,072
6.062.990 0.60V.756 13.067.212
1,435,815 1,220.019 2,704,770
820.450 1,706,745
902.307
Colorado As South
4th wk
Copper Range.
July
..
Sep
16.92
Erie
77,920
15,177
e
36.470
35.9051
..j
Sep
Sep
Sep
163,209
206,870
1.893.663 1,002,778
3.081.996) 2.887.197
688,700
002.200
21.900
29.614
35,528
44.020
Sen
Sep
.
Fairchild
200,071
474,022
157.340
405.007
70.733
j
Cornwall
August
Cornwall St Leb&n.. August
Cuba Railroad-!-.. August
Delaware As Hudson August
Dm Lack As Westu s August
Denv St Rio Grande4 th wk
Denver N W St Pac 3d wk
Det Tol As Iront Sya 2d wk
id wk
Ann Arbor.
Detroit As Mackinac 4th wk
Dal Ac Iron Range.
August
Dial Son Shore St Atl 3d wk
El Paso Ac Sou West August
Sep
August
5,210,458
12.504.626
2.343,995
1,575,499
York Cen tral.
Colorado Midland.. July
37.854
34.188
41.170
;
33.510)
1.200.381 1.395.856
70.295
002,004
t
77.071
582,850
0,328,520 1,559,734
157.346
200,071
4.289,377 “4,055.467
77.920
79,723
27,990
34,254
75.581
72.848
440.310
2,500,674
6.089.933
6,486*047
324,634
419.321
442.688
319,116
2.455.435
870,123
1,187.028
10.003.780
4.199
193,149
459,216
325.638
3,248.915
8,055.424^
6,142.090
293.473
324.323
430,059
315.517
2,750.162
814.206
1,189,084
8,839,283
3.624
1,839
2.118
August
85.754
170,961
Fonda Johns St Glov August
97.403
llgust
220,927
429,274
Georgia Railroad
240,673
Georgia South St Fla —See Sout hern Rati way.
933.213 9.935,887 10.140.447
Grand Trunk Syst.. 3d wk Sen
940.490
122.702 1.266;317 1,420,706
Grand Trie West 3d wk Sep
125.024
43,497
450.132
Det Gr Hav St Mil 3d wk Sep
407.677
45,127
50.660
Canada Atlantic 3d wk Sep
414*712 * 470,075
41.837
Great Northern Syst August
5,557,913
10,872.851
3.875.508
11.668,030
151.720
155,930
151,726
155,930
Gplf St Ship Island. July
673,148 1.415,650 1,231,419
755.458
Hocking Valley.... August
5.224.547 4,870,027 9.986.HB 9,200,889
Illinois Central.... August
265,000 2,307,379 2,025*030
Internat As Gt Nor. 4th wk Sep
347.000
184,103 2,079,768 1,942,582
a Interoceanlo Mex. 4th wk Sep
188,890
75,876
840.538
Iowa Central..’.!.. 4th wk Sep
86.173
857.0J5
260.196
Kanawha As Mich.. July
213,994
213,994
266*196
Kansas City South. August
854,2801 756.58*- 1,699,74. 1,422*608
174.029
K G Mex St Orient. 1st wk Aug
34.140
197,684
35,125
3.137.999 2,926*370 6,014,216 5.680.769
Lehigh Valley
August
& Nor R_
■
-
on a
subsequent
page.
"
Latest dross Earnings.
Week or
Month.
brought together separately
....
Latest dross Earnings.
I
Week
ROADS.
N Y N H 8b Harft.
e N Y C 8b Hud RJv
Lake Shore 8bM S
n Lake E 8b West
Chic Ind 8b South
August
Tot all lines above
N Y Susq So West..
Year.
August
August
August
_
__
August
August
Phlla St Reading.
Coal * Iron Co..
Total both cos...
Rich Fred 8b Potom
Rio Grande June..
Rio Grande South.
Rook Island Lines.".
St Jos St Grand isl.
St Louts A SaaFran
Chic 8b Bast III.
...
14478 399 13544 999
Inc. 1,06 3.400
1,451,642 1.852,633
August
...
.058,673
.399,769
.45,8442
5.590,013 5.290.628
193.453
184;727
85,820
89,736
‘
17,553
.7,759
6,099,280 5,977.132
142,088
141.222
3.641.549 3,607.765
23,749
970,089
233.582
72,192
5,037.491 4,811,428
144.952
180.967
317.389
313.264
Sep
749,083
626.820
184;727
89,736
163,313
85,520
141.222
.985,212
.033*743
497; 236
.516,192
.974.244
.910.700
626,820
142,088
6,862.670
1,823*210
424.836'
9,110,717
1,439*046
2,625,875
749,083
4,055,690
3,846,589
...
4 th wk
August
July
August
August
._
St Louis Southwest 4th wk
San Ped L A 8b S L. July
Seaboard Air Line. ■
Atlanta 8b Blrm.) 3d wk
Florida W Shore j
Southern Indiana.. July
Southern Pacific Co August
Southern Railway
4th wk
MobUe ft Ohio... 4th wk
ClaNOftTexP 4th wk
Ala Great South.Uth wk
Georgia So 8b Fla. 3d wk
Texas 8s Pacific.... 4th wk
Tidewater St West.1 August
Toledo Poor 8b West 4th wk
Toledo St L & West 3d wk
_
Sep
.
Tombigbee Valley. August
Sep
Sep
August
4tb wk Sep
August
August
August
149,759
104,328
118,209
,410,219 11,393,734
-■ i1
11743658 11310745
_
August
362,372
Sep 1.560,720 1,505,346
273.055
269,736
Sep
273.344
Sep 251,486
131,518
122,230
Sep
43,578
45,284
Sep
i
482.462
Sep
512,237
Union Pacific Syst. August
VandaHa'.
AdguSt
July
344.923
6.602.862
3.377*259
9,980,122
193,453
...
/ Evansv St Ter H August
Total of all lines, August
St L Rky Mt St Pac. June
Virginia 8b Son West
Wabash ..^..**^.1.
Western Maryland.
W Jersey 8b Seash..
Wheeling & Lake E
Wrightsvllle So Tenn
Yazoo 8b Miss ValL
1.800,327 1.510.927
3,132,017 2,772,598
11.915
12,542
27,756,564 26,460,764
IftC.1,68 8,800
2,824,152 2,568,029
3,514,205 3.028,805
5.S07.57U 5,211,986
24,278
23,403
3.689,908 3,510.464
1.900.105 1.780,164
August
July
July
Previous
Year.
Year.
1.126,836 1,048.836 2.098,651 2.024.151
6,257.749 6.910.977 12,505,085 13,608,956
734.582
734.582
815,604
815,604
5.337.536 4,698,063 10,115.090 9,104,480
August
August
July
August
August
August
August
August
Raleigh 6» Southport August
Reading Company
Current
$
5,539,943 5,127,834 10,809,576 10.197,988
9,126,107 8,359,672 17.454,586 16,814,867
4,670.234 4.278.627 8,700,126 8.216,976
548.433
497.435
974,811
888,112
509,841
268.811
263,335
537,040“
2,769,358 2,428,089 5,281,240 4,694,750
2,821,754 2,620,032 5,197,835 4,917,737
611,279
342,662
291,254
531,048
237,981
118,838
207,169
136,229
1,604,261 1.469.846 3,132,837 2,919.325
300,624
333,419
626,752
581,131
876,323 1,847,330 1,710,130
958,360
410,483
505,840
968.815
751*298
24079992 21020034 45,543,433 42,269,583
309,716
241,233
604,520
485,742
233,198
207,430
464,125
423,898
3,155,833 2,883,006 6,070,198 5,474,307
August
August
August
Michigan Central. August
Cleve C C Se St L. August
Peoria ‘ & Eastern August
Cincinnati North. August
Pitts 8b Lake Erie August
Rutland
i— August
N Y Chic 8b St L_ August
Toledo &tOhloC_ August
Norfolk Southern.
Norfolk St Western.
Northern Central
Northern pacific
Pacific! Coast Co...
Pennsylvania Co
d Penn—E of P 8b E
d West of P 8b E_
Fere Marquette
Phlla Balt St Wash.
Pitts Cln Ch St St L.
Previous
Year.
curren
or
Month.
July 1 to Latest Date,
513.696
470.863
3,511*679
6.524
16,381
7*197
37,883
333,418
85,477
89*552
895*696
6.217
6,893
14,298
8,479,474 V.948‘,614 16,396,129
1.002*318' 805,665 1,822,654
100,518
745,462
545.057
920*950
697,170
20.061
719.924
820,450
615,263
19,573
742,968
y
3,817,467
13,041
39.793
111,433
835.837
635.116
\
149,759
104,320
22.963,930 22,125*315
14,763,107 13.840.327
2,620,277 2,444,237
2,384,834 2,087,556
1,117,826
914;37T
296,167
891*184
■
period
The returns of the electric railways are
,12,621
.
15,483;3»»
1,527*581
202,630
7,408*003
635.116
545.057
1,767*931 1,583,031
1.327,966 X,205,828
35,350
38,210]
1,391,542 1,386,899
202,887
7,778*066
_.
.
35,852
40,985 ,»
35,852
40,985
Inc. 59. 725
Inc, 17,0, 403
Long Island....... August
108,091
113,377
Louisiana St Arkan. July
113,377
106,091
102,499
201,496
loulsv Hend As St L August
105,211
186,405
f Loulsv As Nashv.. 4th wk Sep 1.425,175 1.348,727 13,300,322 12,218,027
11.161
22.941
Macon St Blrm'ham August
11,004
23.031
Maine Central...
847,763 1,619,130 1.641.604
859,421
August
3,547
6.691
6,740
Man!8tlQue
‘
August
87,376
76,837
69,069
Maryland St Pehna. August ..a
133,300 1,815,600 1,655,400
a Mexican Railway. 2d wk Sep
182,000
t M
~uSee New York Cen tral.
Michigan Central
3d wk Sep
Mineral Range
10,045
15,909
167,472
198,084
124,508 1,391,008 1,260,586
152,942
Mlnneap Ac St Louis 4 til wk Sep
Minn St P Ac S S Ml 4th wk Sep
767,682 6,087,573 6,152,669
569,699
Chicago Division f
151,164
66,251
75,451
123,816
Mississippi Central, August
s Mo Kan At Texas. August
2,297,490 2,179,360 4,437,970 4,093,223
Lexington & East.. July
...
_
.
.
...
m
V
‘
*
'
Mo Pr.c As Iron Mil
Central Braneh.j 4th wk Sep 1,557,000 1.501,000 13,759.106 13,247,199
Nashv Chatt St St L July
929.004
929,664
910,984
910,984
4th wk Sep 1,482,790 1,386,099 15,578,390 13,379,158
a Nat Rys of Mex.t
103,527
130.774
Nevada-Cal-Oregon. 3d wk Sep
10,065
9,354
Nevada Central.... June
7,385
60,096
75,388
6,010
N O Great Northern August
206,813
145,860
101.363
293,474
N O MobUe Ac Chic. Wk Sep 24
26,269
317,501
34,010
382,671
N Y Ont Ac Western August
857,337 1,912,872 1,718,423
971,416
....
.....
__
Various Fiscal Years.
Bellefonte Central
Delaware 8b Hudson.
Period.
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
1
1
1
Manlstique
....
a Mexican Railway..
1
<NY Central 8b Hudson River.
1
Lake Shore 8b Michigan South
1
n Lake Erie 8b Western..
1
1
Chicago Indiana 8b Southern.
1
Michigan Central.
Cleve Cln Chicago 8b St Louis
1
PobrU ft Eastern..
Jan 1
Cincinnati Northern
Jan 1
Pittsburgh 8b Lake Erie..... Jan 1
Rutland
;
Jan 1
New York Chicago 8b St Louis Jan 1
Toledo 8b Onto Central..
Jan 1
Total all lines.
Jan 1
Northern Central..
Jan 1
d Penn—East of Plttsb 8b Erie. Jan 1
d West of Plttsb So Erie
Jan 1
Phlla Baltimore 8b Washington. Jan 1
Plttsb Cin Chicago 8b St Louis.. fan 1
Rio Grande Junction
Dec 1
Texas 8b Pacific...
Jan 1
West Jersey 8b Seashore
Jan 1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Aug
Aug
Aug
Sept
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
July
Sept
Aug
Current
Year.
31
553,189
31 13,135,927
31
28,417
14
6.018,400
31 64,425,384
31 32,413.254
31
3,545,692
31
2.435,599
31 19,268,644
31 19,379,102
31
2,203,037
31
827,947
31 11,416*456
31
2,103,096
31
7.296,853
31 3,134,502
31 168449566
31 8,289,045
31 108180 513
31
lnc.il,
31 12,596,616
31 22,599,261
31
645,553
30 11,248,143
31
4,367,883
Previous
Year.
337,836
12,540,282
28,005
5,376.300
58,888.633
28.462,084
3.055*453
1,960,723
17,285,119
17,425,759
1,867,400
731,799
8,701,967
1,951.187
6,381*603
2.380,834
149095566
7.735,145
96,603,813
066,600
11.494,016
18,802.086
583,409
10,129.847
3,981.483
AGGREGATES OF GROSS EARN IN GS—Weekly and Monthly.
Weekly Summaries.
Id week July
4th week July
1st week Aug
2d week Aug
Id week Aug
1th week Aug
1st week Sept
Ed week Sept
Id week Sept
ftth week Sept
_
„
(43
(42
(43
(43
Cur'nt Year Free’s
roads)....
roads)....
roads)....
roads)....
(42 roads)....
(39 roads)....
(41
(39
(40
(25
3
12,802,686
17,393,199
12,874.219
13,330,857
13,462,769
19,342,738
13,436,925
roads)....
roads).... 713,898.196
roads).... 14.164.775
roads)
15.139,233
Year
Inc. or Dec.
S
5
11,432,364
16,676,649
tl,968,289
12,132,599
12,283,880
16,765,742
12.381.354
13,014,025
13.566.355
14.470.082
%
4-1.370.322 11.99
4-716.550 4.29
4-905,930 7.94
4-1.198,258 9.87
4-1.178.889 9.60
4-2.577,046 15.37
4-1.055.571 6.52
4-884,171 6.80
4-698.420 4.41
4-669.1511 4.83
Monthly Summaries.
Yr. Previous Y.
Inc.
or
Dec.
%
Mileage Curr. Yr. Prev.Yr.
3
3
3
November ..236,374 230.650 247,370,954 211,281,504 4-36 089.450 17.03
December ..237,189 231,699 222.006,184 205,455,121 4-16,551.063 03.05
January
236,758
231,362 210,302.219 182,649,825 4-27,652,394 15.14
February ..236,852 231,652 202,258,490 174,159,723 4-28,098,767 16.15
Maroh
285,925 230,841 237,533,005 204,916,997 4-32,616*008 15.92
April
237,569 232.463 225,225,596 196,595,911 4-28,629,685 14.56
May
237,660 232.494 234,310,642 201.069,381 4-33,241*261 16,53
June
238,108 232.054 237.036.159 209,270,887 4-27,765,272 13.27
July
221*164 217.466 217.202.265 205,879,959 4-11,322,306 5.50
August
81,879
73*874 62,005,137 56*405.033 4-5.600,104 I 9.90
....
jf Cover: lines directly operated,
e Includes the New York St Ottawa, the St. Lawrence A Adirondack and tbe Ottawa St
Canadian road, does not make retnrns to the Inter-State Commerce Commission,
f Includes Evansville A
the Northern Ohio RR. p Includes earnings of MasoaOUy
July 1 1909 and the Frankfort St Cincinnati from Nov. 1 1909
t in.
the Mexioan International from, July 1910. u Indudes the Texas Central in 1910.
•
«xn
„
,
5. Y. By-, the latter of which, being
a
fudJooaRR.
rlndudes the Cleveland Lorain
St Wheeling Ry. in both years, n Includes
A Ft Dodge and- Wise Mina. A Pacific.
t Includes Louisville St Atlantic from
,
Stales
Current
THE CHRONICLE
Latest Gross
lows we
of
sum
Earnings by Weeks.—In
up
September.
the table which fol¬
separately the earnings for the fourth week
The table
25 roads and shows
covers
increase in the aggregate over the
Fourth week of September.
Alabama Great Southern.
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chicago Ind & Louisville
Cine New Orl & Texas Pacific..
Colorado & Southern
Denver & Rio Grande/
Detroit & Mackinac
International & Great Northern
.
—
Interoceanic of Mexico.
Iowa Central
Louisville & Nashville
Minneapolis & St Louis
Minn St Paul & Sault Ste Marie!
Chicago Division
]
Missouri Pacific
Mobile & Ohio
National Railways of Mexico..
Rio Grande Southern
St Louis Southwestern
—
Southern Railway
Texas & Pacific
Toledo Peoria & Western
Wabash-...
Total (25 roads)
Net Increase (4.63%)
1910.
1909.
$
$
122,230
253,234
375,900
2,763,000
342,500
154,557
273,344
474,022
662,200
34,188
265,000
131,518
284,978
453.300
2,933,000
343.300
167,521
251,486
485,667
688,700
33,510
347,000
188,890
86,173
September the
‘
Decrease.
2,435,599
Michigan Central.b--.Aug 2,769,358
Jan 1
to Aug 31
19,268,644
Clev Cln Chic 8s St L b
Aug 2,821,754
Jan 1 to Aug 31.
19,379,102
21,858
Peoria 8s
342,662
2,203,037
Cincinnati Northern.b Aug
136,229
Jan 1 to Aug 31
827,947
Pitts 8b Lake
Erie.b-.Aug 1,604,261
Jan 1 to Aug 31
.11,416,456
Rutland-b
Aug
333,419
Jan 1 to Aug 31
2,103,096
N Y Chic 8s St Louis b
Aug
958,360
Jan 1 to Aug 31.
7,296,853
Toledo 8s Ohio Cent.b Aug
505,840
Jan 1 to Aug 31.
3,134,502
Total all lines.b
Aug 24,079,992
Jan 1 to Aug 31
168,449,566
N Y Ontario &
West.a-.Aug
971,416
July 1 to Aug 31
1,912,872
Norfolk & Western.b
Aug 3,155,833
July 1 to Aug 31
6,070,198
Northern Paclflc.b
Aug 6,257,749
July 1 to Aug 31
12,505,085
Penna Company-b
Aug 5.337,536
July 1 to Aug 31
.10,115,090
Rio Grande Junction..*July
89,736
Dec 1 to July 31
645,553
Rio Grande Southern
b--Aug
54,808
July 1 to Aug 31
109,581
St Louis & San Fran.b--Aug
3,641,549
July 1 to Aug 31
6,985,212
Chicago & East Ill.b.Aug 1,123,749
July 1 to Aug 31
2,033,743
Evansv & Ter Hau.b.Aug
272,192
July 1 to Aug 31
497,236
Total aU lines.b
Aug 5,037,491
July 1 to Aug 31
9,516,192
St Louis Southwest .a
Aug
960,178
July 1 to Aug 31
1,870,665
Texas & Pacific.b-Aug 1,294,383
Jan 1 to Aug 31
9,858,075
Tomblgbee Valley.b
Aug
6,893
July 1 to Aug 31
14.298
Vandalla b
Aug 1,002,315
Jan 1 to Aug 31
1,822,654
Yazoo & Miss Valley.a--Aug
719,924
July 1 to Aug 31
1,391,542
82,000
4,787
10,297
76,448
2 ,434
197,983
56,000
3,319
96,691
9,794
4,125
55.374
29,775
1,910
90.375
7,759
313,264
1,505,346
482.462
37,883
745.462
889,670
669,151
220,519
returns of 23 roads show
follows: *•
as
Month of September.
1910.
Gross earnings (23 roads)
It will be
seen
in the amount of
1909.
Increase.
42,261,706 40,117,503 2,144,203
that there is
$2,144,203,
a
or
gain
on
%
5.34
the roads reporting
5.34%.
Net
Earnings Monthly to Latest Dates.—The table fol¬
lowing shows the gross and net earnings of STEAM railroads
and of industrial
companies reported this week:
Gross Earnings
Current
Previous
Year.
Year.
Roads.
Net Earnings
Current
Previous
Year.
Year.
$
$
$
Alabama Tenn & Nor.b-Aug
8,590
6,466
4,175
JUly 1 to Aug 31
15,479
11,261
7,574
Atlanta BIrm & Atl.b-.Aug
230,079
195,586
56,186
July 1 to Aug 31
442,990
378,247
104,994
Beliefonte Central_b
Aug
7,231
4,385
2,305
Jan 1 to Aug 31
53,189
37,826
9,979
Boston & Albany _b—
Apr 1 to June 30
3,573,190 3,220,507
967,359
Jan 1 to June 30
6,810,618
6,083,197
1,525,208
July 1 to June 30
14,079,121 12,141,773 3,667,344
Boston & Maine.b
Aug 4,202,366 3,952,534 1,462,948
July 1 to Aug 31
7,953,596 7,674,901
2,620,631
Chesapeake & Ohio
Aug*2,949,328 2,642,595 *1,131,194
July 1 to Aug 31
*5,638,023 5,052,602 d2,106,732
Ohio Burl &
Quincy.b--Aug 8,366,838 7,900,803 2,947,787
; July 1 to Aug 31
15,454,409 14,726,611 4,596,944
Ohio & North West-b-.Aug
6,662,990
6,604,756
2,001,694
1
to
July
Aug 31
13,067,212 12,501,026 3,966,385
Chic StPaul Minn AO b Aug
1,435,815 1,220,019
506,678
July 1 to Aug 31.
2,704,770 2,343,995
...
t
.
Copper Range.b
July
Aug
70,733
206,870
July 1 to Aug 31.
440,310
Delaware Lack & West b Aug
3,081,996
July 1 to Aug 31
6,089,933
Denver & Rio Grande.a. Aug
2,200,422
-Jan 1 to Aug 31
4,250,147
Duluth So Sh & Atl.b-.Aug
336,479
July 1 to Aug 31
648,462
Grand Trunk of Canada—
Grand Trunk Ry
Aug 3,067,842
July 1 to Aug 31
5,606,208
Grand Trunk West
Aug
498,330
July 1 to Aug 31
892,516
Det Gr Hav & Mllw__Aug
156,701
July 1 to Aug 31
277,877
Canada Atlantic
Aug
162,541
July 1 to Aug 31
289,070
Great Northern.b
Aug 5,875,568
July 1 to Aug 31
11,668,030
Hocking Valley.a
Aug
755,458
July 1 to Aug 31
1,415,650
Illinois Central .a
Aug 5,224,547
July 1 to Aug 31---.__ 9,936,118
Iowa Central.a
Aug
302,174
July 1 to Aug 31
545,064
Louisville & Nashv-b...Aug
4,567,267
July 1 to Aug 31
8,768,867
Maine Central.b
Aug
859,421
July 1 to Aug 31
1,619,133
Mineral Range.b
Aug
64,365
July 1 to Aug 31
122,500
Minneap & St Louls.a.-Aug
433,300
July 1 to Aug 31.
846,870
Mississippi Central.b
Aug
75,451
July 1 to Aug 31.
151,164
Missouri Kan & Texas_b Aug
2,297,490
July 1 to Aug 31
4,437,970
New London Northern, b—
v
Apr 1 to June 30--..._
296,551
Jan 1 to June 30.
578,080
July 1 to June 30
1,169,389
New Orleans Great No.«
Aug
145,860
July 1 to Aug 31
203,474
N T N H &
Hartf-b-^-Aug 5,539,943
Cuba RR
-
.
,
—
.
_.
•
.
-
July 1 to Aug 31-..rr-10,809,576
874,302
20,880
84,491
202,923
79,920
163,209
325,638
2,887,197
6,055,424
2,046,674
4,037,190
308,440
593,674
2,939,366
5,659,739
576,681
1,047,271
172,766
323,135
190,280
339,681
5,557,913
10,872,851
1,233,640
2,485,069
705,699
1,406,337
126,587
243,111
854,071
1,565,553
98,790
157,188
11,679
12,652
4,380
def.5,353
2,527,206
4,621,183
673,148
1,231,419
4,870,027
9,200,889
270,860
523,599
4,061,442
7,950,235
847,768
1,641,604
331,322
587,493
1,174,726
2,113,809
*72,373
*98,330
1,338,462
2,408,011
249,421
466,187
76,301
5,291
149,966
def9,128
375,730
742,490
66,251
123,816
2,179,360
4,093,223
*117,776
*232,686
29,860
' 65,364
654,917
.
;
;
286,412
544,496
1,081,998
101,363
206,813
5,127,834
10,197,988
1,092,127
•
'
••
%
3,385
5,794
4,148,791
$
8,359,672
def 204
Companies.
1,252
—
-
389,085
726,844
41,851
68,860
21,413
11,193
2,421,303
4,669,061
285,701
509,950
836,899
1,224,470
*63,075
*94,237
1,597,713
3,070,027
339,834
652,364
15,908
26,723
*122,168
*244,082
28,876
47,799
809,383
1,343,314
74,160
97,562
156,831
29,856
61,556
2,129,332
4,148,531
300,624
1,951,187
876,323
6,381,603
410,483
2,380,834
21,920,034
149095,566
857,337
1,718,423
2,893,006
5,474,307
6,910,977
13,608,955
4,698,063
9,104,480
85,520
583,409
49,134
94,257
3,607,765
6,862,670
970,080
1,823,210
233,582
424,836
4,811,428
9,110,717
854,155
1,652.948
1,174,208
8,811,103
6,217
12,621
59,670
81,376
657,633
23,310
191,785
36,436
275,454
18,261
171,510
31,667
271,081
Mexican Tel & Tel Co. Aug
Mch 1 to Aug 31
Minn Gen Elect Co.b
Aug
Jan 1 to Aug 31
-.
47,772
277,307
91,732
794,270
45,636
Sierra Pacific El
Co.b.--Aug
2,575,376
5,058,045
2,082,710
3,669,653
n26,921
nl93,666
19,182
38,470
1,230,721
2,195,074
391,177
674,590
120,096
207,413
1,741,995
3,077,077
196.096
373,263
258,477
1,780,671
2.529
5,603
280,326
409,404
35,228
89.233
1,386,899
5
8,493
$
$
2,811.893
2,804,360
16,235,104 17,307,450
1,522,363
1,877,577
9,773,753 10,554,702
166,555
174,933
786,258
524,811
43,281
57,029
610,454
401,595
794,074
895,787
5,448,435
5,296,189
737,113
1,002,335
4,266,992
4,808,629
112,486
117,696
590,852
512,292
38,689
44,692
167,812
148,518
903,728
873,930
6,223,684
4,662,091
115,465
125,303
605,344
540,421
265,871
338,756
2,239,404 1,896,497
200,068
170,239
1,073,525
655,675
7,711,586 8,482,637
48,021,617 47,308,870
376,887
332,412
364,292
627,599
1,202,931
1,251,473
2,189,230 2,261,218
742,968
5,
LXXXXI
Net Earnings
Current
Previous
Year.
Year.
805,665
1,527,581
Previous
Year.
Lowell Elect Lt Corp.b-Aug
Jan 1 to Aug 31
g
36,544
846,771
1,557,280
206,340
326,542
1,867,400
118,838
731,799
1,469,846
8,701,967
Current
Year.
*
Abington & Rockland Elect
Light & Power Co.b-. Aug
Jan 1 to Aug 31
Blackstone Vail Gas & El bAug
Jan 1 to Aug 31
EdlsonElecCo(Brock’n) bAug
Jan 1 to Aug 31
Fall River Gas Works b Aug
Jan 1 to Aug 31
HoughtonCoElectLt. b- Aug
Jan 1 to Aug 31
968,871
1,540,225
2,950,562
1,522,294
2,843,039
1,113,388
2,088,576
2,646,452
4,683,868
2,316,155
4,240,997
51,094
100,112
1,305,895
2,883,130
674,144
1,378,150
110,595
192,540
1,963,723
2,428,089
17,285,119
2,620,032
17,425,759
291,254
INDUSTRIAL COMPANIES.
Gross Earnings
35,308
57,466
••
33,980
44,666
124,197
58,275
122,080
2,169,810
Eastern.b-.Aug
Jan 1 to Aug 31
678
1,501,000
269,736
1,386,099
"
-...
11,645
26,500
1,348,727
124,508
767,682
RIv.b.Aug 9,126,107
Jan 1 to Aug 31.
64,42 5,384 58,888,638
Lake Sh 8s Mich So.b.Aug
4,670,234
4,278,627
Jan 1 to Aug 31
.^32^413,254 28,462,084
e Lake Erie 8c
West.b-Aug
548,433
497,435
Jan 1 to Aug 31
3,545,692
3,055,453
Chlo Ind 8s South’n.b. Aug
263,335
268,811
Jan 1 to Aug 31
12,964
15,139,233 14,470,082
For the month of
cNYCt* Hud
800
75,876
152,942
569,699
%
4.63%
$
9,288
31.744
77,400
170,000
184,103
1,425,175
1,557,000
273,055
1,482,790
17,553
317,389
1,560,720
512,237
39,793
835,837
Increase.
Gsoss Earnings—
Current
Previous
Year.
Year.
Roads,
week last year.
same
[VOL.
3,208,511
6,183,597
2,027,503
3,835,154
n25,656
nl75,023
18,130
30,989
1,110,402
2,146,891
381.170
681.170
114,416
191,635
1,605,989
3,019,696
243.213
452,007
322,235
1,601,137
1,862
4,161
247,148
400,437
def 2,08 7
def62,084
Net Earnings
Current
Previous
Year.
Year.
$
6,411
43,482
3,221
18,581
74,405
607,607
41,140
336,109
19,792
166,657
9,029
85,897
33,529
256,522
18,440
161,552
26,665
226,370
39,926
16,104
117,442
226,878
77,508
697,459
44,054
7,540
82,074
12,031
115,219
25,209
146,824
52,998
478,573
31,430
$
2,581
15,208
34,334
286,799
7,058
70,793
14,606
107,403
8,343
75,952
11,617
91,790
21,604
119,262
40,612
390,604
32,163
Net earnings here given are after
deducting taxes,
b Net earnings here given are before
deducting taxes.
c Includes the N. Y. &
Ottawa, the St. Lawrence & Adirondack and the
Ottawa & N. Y. Ry., the latter of which,
being a Canadian road, does not
make returns to the Inter-State Commerce
Commission.
d Includes Chesapeake & Ohio
Railway Co. of Indiana In 1910.
e Includes the Northern Ohio
RR.
* For Aug. 1910 additional Income is
given as
a credit of 32,508,
against a deficit of $1,879 in 1909, and for periodshowing
from July 1 to Aug. 31 was
a credit of $4,619 in 1910,
against a deficit of $2,660 last year.
* For Aug. 1910 additional income was
$13,813, against $15,518 In 1909,
and for period from July 1 to Aug. 31 was
$25,454 in 1910, against $33,140
a
last year.
n
These figures represent 30% cf gross
earnings.
Interest Charges and Surplus.
—Int., Rentals, &c.—
Current
Previous
Year.
Year.
$
$
Companies.
Belief onte Central
Jan 1 to Aug 31
Boston & Albany—
April 1 to June 30
Jan
1 to June 30
July 1 to June 30
Copper Range
Cuba
RR
July 1 to Aug 31
Aug
July
-Aug
Denver & Rio
Grande..Aug
July 1 to Aug 31
Duluth So Sh & Atl
Aug
236
243
1,888
1,944
1,099,419
2,191,271
4,388,439
15,712
36,667
73,334
481,884
947,488
96,410
193,353
13,792
26,425
611,111
July 1 to Aug 31
Mineral Range
Aug
July 1 to Aug 31
Mo Kansas & Texas
Aug
July 1 to Aug 31
1,172,956
New London Northern—
Apr 1 to June 30
46,861
Jan 1 to June 30..
-109,849
5
July 1 to June 30
235,825
...
,
— „
—Bal. oj Net Earns.—
Current
Year.
$
2,08f?
8,091
Previous
Year.
$
def447
dcf092
1,170,149 .rdef37,254zdef 165,55
2,212,033£def601,204£def6C0,70
4,0S9,326£def578,336£deI931,31
11,976
34,996
69,992
5,168
47,824
129,589
*278,179
*608,113
£35,261
£62,349
417,001
821,475
91,748
185,309
13,132
£def7,262
26,394 £def33,075
534,038
£73,621
1,075,832 £def43,552
24,568
16,098
30,120
*314,116
*696,216
£23,799
£15,040
£2,794
£367
£279,422
£275,722
62,988 def.18,881
11,172
125,976 £df.62,671 £df.25,975
251,952 £df,180,018 xdf.86,945
OCX. 8
1910.]
THE CHRONICLE
Int., Rentals, &c,~—
Previous
Year*
Current
Year.
Roads.
3
41,920
83,695
New Orleans Great Nor -Aug
July 1 to Aug 31..
Norfolk & Western
463&27
-Aug
126,492
233,113
98,367
193,930
Rio Grande Junction....July
July 31
926,587
8,333
66,667
-
Rio Grande Southern__ -Aug
'
8,333
66*667
19,148
19,625
39,054
July 1 to Aug 31-.
20,793
45,790
699,895
1,182,743
250,395
531,179
18,588
126,999
93,196
503,036
1,006,487
July 1 to Aug 31-Dec 1 to
45,813
zdef228
£3,109
38,229
136
781
Boston Suburb Elect.x.Aug
Oct 1 to Aug 31
788.346
1,334,631
Brockt & Plym St Ry.b.Aug
Jan 1 to Aug 31
234,045
433,669
17,323
108,356
£def981
£def2,939
INDUSTRIAL COMPANIES.
—Int., Rentals, Ac.-L-
Companies.
Current
Year.
Previous
Year.
$
3
Abington & Rockland Elect
Light & Power Co
Aug
Jan 1 to Aug 31
Blackstone VallGas&El. Aug
Jan 1 to Aug 31-
814
—
—
—
Minn Gen Elect Co
Jan 1 to Aug 31
Sierra Pacific Elect Co.
Aug
Aug
-Aug
_
478
$
6,121
3,031
2,407
12,460
30,222
220,416
29,441
220,111
10,918
115,693
4,893
66,688
4,864
32,796
3,620
26,073
4,165
53,101
3,438
44,720
3,257
28,254
2,347
19,490
12,847
89,188
12,259
87,913
4,553
34,975
4,863
37,087
31,753
251,300
4,266
33,140
2,987
47,099
4,077
42,812
4,817
33,589
7,168
78,132
6,800
58,201
30,027
239,790
5,927
21,245
227,273
25,402
10,585
150,817
EdtsonElecCo (Brockton) Aug
Jan 1 to Aug 31
Fall River Gas Works
Aug
Jan 1 to Aug 31
Houghton Co Elec Lt
Jan 1 to Aug 31
Lowell Elect Lt Corp
Jan 1 to Aug 31
—Bal. of Net Earns.—
Current
Previous
Year.
Year.
3
Aug
6,028
2,103
12,177
26,236
These figures are after allowing for other Income and for discount and
The sum of $10,000 is deducted every month from surplus
exchange.
and placed to the credit of the renewal fund.
x After allowing for other income received.
d
ELECTRIC
RAILWAY
AND TRACTION
Latest Cross Earnings.
Name of
Road.
Week,
Current
Year.
or
Month.
*
3
American Rys Co
August
362,673 347,955
cAug Elgin & Chic Ry August
178,730 163,698
Bangor Ry & Elec Co August
58,065
57,593
Baton Rouge Elec Co August
9,155
8,681
Binghamton St Ry_. July
37,330
34,910
Blrm’ham Ry Lt & P July
216,505 183,187
Brockt’n & Ply St Ry August
16,057
17,912
Cape Breton Elec Co. August
30,777
26,669
Carolina Pow & Lt Co August
16,689
17,159
Central Penn Trac
August
78,790
70,031
Chattanooga Ry & Lt August
77,085
67,798
Chicago Rys Co
July
1192,827 1077,694
Cleve Palnesv & East August
40,275
36,389
Dallas Electric Corp. August
118,257 112,802
Detroit United Ry— 3d wk Sept
189,322 154,027
Duluth-Superior TrCo August
101,983
92,235
East St Louis & Sub. August
215,316 177,210
El Paso Electric
August
46,897
46,447
Falrm & Clarks Tr Co August
56,696
42.864
Ft Wayne & Wabash
Valley Traction Co August
140,625 133,412
Galv-Hous Elect Co. August
124,764
111,295
Grand Rapids Ry Co. August
111,814
99,838
Havana Electric Ry. Wk Oct 2
40,154
38,293
Honolulu Rapid Tran
A Land Co...
June
37,866
34,689
August
29,709
32,925
Illinois Traction Co. July
506,907 437,484
August
47,043
38,782
August
621,929 591,111
Lake Shore Elec Ry. August
139,896 130,993
Milw El Ry & Lt Co August
407,973 374,680
Milw Lt Ht & Tr Co. August
114,778 106,994
Montreal Street Ry.. August
398,828 355,230
Nashville Ry & Light August
146,038 138,195
New Orleans Ry & Lt August
487,436 470,530
North Ohio Trac & L August
263,149 231,062
North Texas Elec Co
August
119,813 109,422
Northwest Elec Co._ September
179,710 169,156
Norf & Portsm Tr Co August
188,834
174,211
Oklahoma City Ryr. May
53,861
37,533
Paducah Tr & tL Co August
20,780
19,930
August
24,177
22,205
August
479,944
429,276
August
173,989 194,383
Current
Year.
—
Previous
Year.
2,589,261
1,099,888
367,377
70,946
2,391,526
1,009,265
1,496,110
82,155
188,228
136,945
554,910
573,925
7,635,344
235,734
917,809
6,741,826
717,157
1,545,513
405,486
383,960
1,276,482
91,070
162,014
123,773
501.768
998.040
855,991
755,642
1,624,094
—
343,166
—
•
905,614
793.768
678,396
1,512,639
227,916
149,144
162,401
3,616,280! 3,126,870
1,284,729 1,230,931
1027,931
673,220
6,381,840
4,964,764
August
August
August
Seattle Electric Co.. August
August
August
July
August
89,773
90,524
193,203
53,931
610,816
14,430
48,468
674,715
1,889,744
416,585
634,522
1,575,775
402,295
119,290
414,236
1,700,500
2,767,358
5,427,773
106,938
389,146
1,528.054
2.477.310
4,997 533
3d wk
Underground
El
Rj
of London—
Three tube lines... Wk
Oct
Oct
Oct
Metropolitan Dlst. Wk
United Tramways. Wk
August
July
August
c
Sep
1
1
1
'•
239,621
226,565
380,934
146,769
333,223
136,286
£12,120
£10,567
£6,755
232,494
618,635
32,470
£12,275
£9,933
£5,997
219,083
621,753
36,841
£494,480
£416,557
£251,246
1,895,832
4,373,496
265,509
£488,560
£380,548
£240,737
1,792,412
4.190.658
260,355
Electric
Railway Net Earnings.—The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these
columns, and the latest statement of
this kind will be found in the issue of Sept. 24 1910.
The
Get. 29 1910.
Cross Earnings—
Roads.
Aurora Elgin &
Chic.b-Aug
July 1 to Aug 31..;——-
Baton Rouge Elect Co.b. Aug
<
Jan 1 to Aug 31
Year.
$
178,730
361,118
9,155
70,946
Previous
Year.
to
837,076
858,815
17,912
91,070
26,669
162,014
1,077,694
16,057
82,155
30,777
188,228
6,961,458
31,783
112,802
823,731
46,447
376,374
133,412
905,614
47,043
377,419
Northern Tex El Co.b.-Aug
Jan 1 to Aug 31.
119,813
923,376
109,422
805,290
Norfolk & Portsm
188,834
385,732
174,211
354,437
20,780
24,177
176,200
Puget Sound Elect Co.b. Aug
173,989
Jan 1 to Aug 31.
1,284,729
Quebec Ry Lt & Pow_.Aug
129,323
July 1 to Aug 31
252,668
Savannah Elect Co.b
56,870
Aug
Jan 1 to Aug 31—
416,585
Seattle Elect Co.b
Aug
479,573
19,930
22,205
162,401
194,383
1,230,931
115,136
221,662
Tampa Elect Co.bAug
50,346
Jan 1 to Aug 31
414,236
Twin City Rap Tr Co.b-Aug
660,656
Jan 1 to Aug 31
4,925,515
Whatcom Co Ry & Lt.b-Aug
32,470
Jan 1 to Aug 31
265,509
48,468
389,146
..
..
145,788
66,699
434,623
59,157
368,139
48,319
325,476
16,171
97,834
19,943
174,794
55,860
420,350
88,334
178,179
8,973
9,695
72,337
73,820
441,736
65,294
131,251
18,190
143,837
220,824
25,276
183,377
362,333
2,560,470
11,405
102,542
213,693
38,782
312,212
Tr.b.Aug
171,192
32,925
Jacksonville Elect Co.b.Aug
Jan 1 to Aug 31.
July 1 to Aug 31.
Paducah Tr & Lt Co.b.Aug
Pensacola Elect Co.b
Aug
Jan 1 to Aug 31-
3
43,300
43,055
235,198
231,091
8,598
6,717
25,390
28,375
15,074
12,863
83,017
59,889
W357.849
n323,309
fl2,290,604 n2,088,437
22,789
11,472
35,620
40,532
282,393
301,035
16,167
17,901
58,832
327,401
29,709
210,740
_.
855,991
Year.
3
111,295
793,768
Aug 31
Houghton Co Tract Co.b. Aug
Jan 1 to Aug 31
53,931
402,295
610,816
641,062
4,531,222
36,841
260,355
17,337
96,022
17,490
131,122
51,529
353,064
77,874
156,938
8,649
9,691
70,358
80,516
404,445
57,477
101,573
17,547
141,147
298,697
19,665
158,164
378,583
2,368,690
17,666
111,624
Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
n These figures represent
30% of gross earnings.
x Includes Middlesex & Boston and Lexington & Boston St.
Ry. lines.
a
Interest Charges and Surplus.
—Int., Rentals, &c.
Current
Previous
Roads.
Year:
3
Aurora Elgin & Chicago. Aug
July 1 to Aug 31
i
Baton
Rouge Elec Co
Boston Suburban Elec.
Oct 1 to Aug 31
Aug
Aug
_
_
Brock & Plym St Ry
Jan 1 to Aug 31
Aug
Cape Breton Electric Co. Aug
Jan 1 to Aug 31
Calumbus Electric Co
Aug
Dallas Electric Corp
Aug
Jan 1 to Aug 31
El Paso Electric Co
Aug
Jan 1 to Aug 31
Ft Wayne & Wab Vail.-Aug
Jan 1 to Aug 31
Galv-Houston Elec Co__Aug
Jan 1 to Aug 31
Houghton Co Trac Co
Aug
Jan 1
to
Aug 31.
Jacksonville Electric Co. Aug
Jan 1 to Aug 31
Northern Texas Elec Co. Aug
Jan 1 to Aug 31
Norfolk & Portsm Trac. Aug
July 1 to Aug 31
Paducah Trac & Lt Co. Aug
Net Earnings
Current
Previous
Year.
Year.
$
163,698
331,312
$
91,254
186,029
87,250
176 069
8,681
62,500
3.300
25,047
3,162
16,725
$
_
_
Pensacola Electric Co
Aug
Jan 1 to Aug 31
Puget Sound Electric Co. Aug
Jan 1 to Aug 31
Savannah Electric Co
Aug
Jan 1 to Aug 31
Seattle Electric Co
-Aug
_
These figures are for consolidated company.
Current
1
_
176,200
Light & Power Co. August
258,704
56,870
479,573
17,103
50,346
Jan
506.979
6,961.458
210,844
823,731
5,728,114
636,384
1,304,677
376,374
298,746
1,612,504
923,376
1,640,044
4,135,528
3
111,521
Net Earnings
Previous
Current
Year.
62,500
197,684
213,693
2,952,751
312,212
4,470,524
726,855
2,747,439
606,308
2,557,704
1,110,785
3.978,930
1,432,015
805,290
1,523,423
377,419
4,867,429
798,655
3,054,818
698,078
2,863,033
1,178,539
3
107,791
Cape Breton Elect Co.b. Aug
Jan 1 to Aug 31
Chicago Railways Co
July 1,192,827
Jan 1 to July 31..
7,635,344
Columbus Elect Co.b
Aug
39,328
Dallas Elect Corp.b
Aug
118,257
Jan 1 to Aug 31.
917,809
El Paso Elect Co.b
Aug
46,897
Jan 1 to Aug 31
405,486
Ft W & Wab Val Tr.b.Aug
140,625
Jan 1 to Aug 31
998,040
Galvest-Houst El Co.b-Aug
124.764
__
221,557
210,740
3,351,404
.
...
COMPANIES.
Jan. 1 to latest date.
Previous
Year.
Cross Earnings
Current
Previous
Year.
Year.
Roads.
*
%
-Aug
July 1 to Aug 31
N Y Ont & Western.__
—Bal. ot Net Earns.—
Current
Previous
Year.
Year.
939
33,039
65,608
1,945
14,899
160,723
1,601
14,076
6,174
42,762
17,887
25,659
208,170
8,215
66,842
45,845
360,441
25,965
184,041
6,637
50,723
9,494
73,705
20,300
154,765
64,866
131,442
7,071
5,244
40,033
52,145
406,322
18,181
142,051
111,081
5,959
39,281
Tampa Electric Co
Aug
Jan 1 to Aug 31Twin City Rap Tran Co. Aug
140,112
Jan 1 to Aug 31
1,121,367
•Whatcom Co Ry <x Lt-.Aug
8,904
Jan 1 to Aug 31
69,623
x
Bal. of Net Earns
Current
Previous
Year.
Year.
Year.
5
29,351
58,250
1,951
13,893
153,347
1,661
14,706
6,207
42,633
12,677
28,649
226,752
8,259
63,812
45,112
338,773
21,679
169,401
6,215
47,572
9,520
74,088
17,190
137,494
3
58,215
120,421
1,355
28,401
74,475
6,997
11,314
8,900
40,255
4,902
9,961
74,223
7,952
104,350
20,854
74,182
32,867
143,360
9,534
47,111
10,449
101,089
35,560
265,585
23,468
46,737
63,118
126,469
6,618
1,902
4,373
34,718
4,451
32,304
48,800
373,708
21,675
35,414
17,435
137,807
108,588
4,595
36,568
140,251
1,108,259
8*063
66,220
3
57,899
118,719
l,2li
29,162
77,744
5,056
13,669
6,656
17,256
def. 1,205
11,883
74,283
9,642
81,976
14,045
29,366
26,640
156,075
11,122
48,450
7.970
57,034
34,339
215,570
14,756
30,469
2,031
5,318
35,640
31,716
30,737
9
112
1,786
109,743
19,317
144,096
222,221
1,439,103
2,501
32,919
3,340
190,109
15,070
121,596
238,332
1,260,431
9,COS
45,404
After c.Hewing for other income received.
ANNUAL REPORTS.
Annual Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the
preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in
which
it is published.
The latest index will be found in the issue
of Sept. 24.
The next will appear in that of Oct. 29.
Atchison
Topeka & Santa Fe Ry.
(Report for Fiscal Year ending June 30 1910.)
The remarks of President
Ripley are printed in full on
subsequent pages, and in addition the principal tables from
the pamphlet are also given.
Below we give comparative
statistics, income account and balance sheet for several years.
THE CHRONICLE
[Yol.
OPERATIONS. EARNINGS. AO.
1909-10.
9,415
1,872
1,176
54,698
1,872
1,193
55,108
1,791
1,135
49,770
495
2 98
292
221
13,675,343
12,605,697
1108004215
11,236,904
10,524,836
9,916
1,923
1,375
57,781
cars
Operations— Passengers carried
Equipment *—
Locomotives.
Passenger cars
Freight cars
Miscellaneous
Pass, carried 1 mile-... 1236975839
Rate per pass, per mile.
2.056 cts.
2.052 cts.
Freight (tons) carried-. 19,448,590
Fgt.(tons) cam 1 mlle.a 7,012,896
Rate per ton per mile:.
1.015 cts.
_
floats,
388.80
$1.21
$3.00
1028779786 969,651,318
2.104 cts.
2.183 ct8.
16,610,912
6,263,257
1.026 cts.
866.06
0.987 cts.
354.97
*
$10,588
19$?2 steam ferryboats,
000s omitted.
o
1907-08
17,220,597
6,260,178
_
Av. rev. train load (tons)
Barn, per pass, train m_
Earn, per fgt. train mile
Gross earnings per mile.
PI* Also June 30
INCOME ACCOUNT.
1906-07.
9,278
1908-09.
9,795
Aver, mileage operated.
$1.21
$1.17
$3.05
$2.84
$9,624
$9,625
16,979,395
$1.13
$2.93
1 river steamer, 3 tugs and 4 car
1909-10.
1908-09.
1907-08.
$71,194,056 $64,212,638 $61,848,639
25,437,182
22,734,505
21,643,427
7,318,574
8,361,957
7,125,730
Total operating revenues
$104,993,195 $94,265,717 $90,617,796
Operating Expenses—
■Maintenance of way and structures_$17,807,136 $12,884,407 $14,120,828
Maintenance of equipment
15,560,047
13,903,897
14,246,621
Traffic expenses
2,114,261
1,904,822
1,796,264
Transportation expenses
31,821,825
28,395,590
26,674,864
General expenses2,458,551
2,127,205
2,070,612
Total operating expense
P. c. oper. expenses to revenues
Net operating revenue._
Taxes
...$69,761,820 $57,495,195 $60,629,915
(66.44)
(60.99)
(66.91)
$35,231,375 $36,770,522 $29,987,881
4,006,419
3,015,219
3,244,596
Operating income
$31,224,956 $33,755,303 $26,743,285
$1,245,972
$342,247)
1,304,083
671,974
816,128)
Income from investments
Interest, discount, &c
Total income
33,775,011
84,913,678
27,415,259
Deduct—
Interest on bonds
$11 ,984,151 $13,548 ,082 $12,579,302
Rentals of tracks, &c
89 ,230)
27,701
Hire of equipment
1 ,292,720
770 ,826)
1,157,071
Advances to subsidiary companies
87 ,549j
44,655
Dividends on preferred stock (5%)__
5 .708,690
5,708 ,690
5,708,690
Dividends on common stock..
(6%)9,,648,030 <5)5,152 550(5^)5662607
Appropriation fuel reserve fund
703,218
158 ,230
81,378
Additions and betterments
41,000,000
9,000 ,000
340,332
—
Total
$33,409,165 $34,515,157 $25,529,380
$365,846
$398,521
$1,885,879
Balance, surplus
GENERAL BALANCE SHEET JUNE 30.
1910.
1909.
Assets—
1908.
$
$
$
Railroad, franchises, Ac., including
Stocks, bonds, &c___
632,527,613 527,908,894 505,959,077
Expenditures for Improvements, Ac_a23,386 064
3,721,975
19,024,380
Expenditures for construction
7,140,668
896,744
2,925,437
Investments and.new acquisitions
10,377,576
7,288,124
6,267,743
Other Investments
12,725,569
8,435,534
7,550,692
Materials and supplies
18,386,494
10,979,159
14,639,058
Traffic balances
1,300,115
1,496,531
1,228,586
Agents and conductors
750,396
387,224
492,474
United States Government
359,632
315,785
672,087
Insurance prepaid
439,523
109,470
137,767
Miscellaneous accounts—
4,837,897
3,814,180
3,702,858
Cash on hand and In bank
34,814,895
30,036,505
9,407,865
Cash deposit for fuel reserve fund
1,016,916
313,677
155,427
Total assets
648.063,358 595,703,801 572,163,452
Liabilities—
Total liabilities
648,063,358 595,703,801 572,163,452
a In 1910 there was deducted $240,000, the amount
of Santa Fe Pacific
lands sold (against $216,384 In 1909) and added $280,921 additions and
betterments written off In 1908 reinstated and credited to appropriated
ncome.—V. 91, p. 716, 588.
Kansas
City Southern Railway
{Report for Fiscal Year ending June 30 1910.)
.
ROLLING STOCK JUNE 30.
1910
1909
Locomotives.
202
208
1908
210
Pass. Cars.
86
87
89
Freight Cars.
6,536
6,908
Miscellaneous.
872
088
694
7.148
Traffic expenses
General expenses.
Total operating expenses
Net earnings
Per cent of expenses to earnings
1907-08.
$6,692,308
$8,771,965
$8,757,918
$960,600
1,006,698
2,779,583
271,593
331,581
$889,448
1,214,166
3,084,629
268,526
303.490
$3,326,067
(65.33)
94,453
$5,350,056
$3,421,909
(60.99)
97,813
$5,760,259
$2,997,659
(65.77)
134,609
$3,420,520
$3,519,722
$3,132,268
$322,279
900,000
21,689
66,600
255,000
77,498
$283,138
900,000
15,825
75,780
249,273
Cr. 5,020
319,957
359,117
...
<
Interest, discount, rents, &c
$6,268,585
;
Net income
Deduct—
;
Interest
-v
on
/
$343,773
1,209,042
23,518
57,420
.
bonds
Rents, Ac
1,302,738
762,872
Interest on equipment notes
Interest on collateral gold notes
Hire of equipment
232,088
Adjustment of current accounts
63,258
Dividend on preferred stock, 4%___
*840,000
*840,660
*'840'. 666
Total
$2,769,099
$2,483,066
$2,358,996
Balance, surplus..
$651,421
$1,036,655
$773,272
*
Charged against profit and loss account but here deducted from Income account.
OPERATIONS OF SUBS1D. PROPERTIES OPERATED SEPARATEL Y.
Gross. Nct(ovcr tax) Int.,&c.
Balance.
$62,139
$21,520
$36,028
def.$14,508
do
do
1908-09.. 61,634
def. 13,998
22,211
36,209
K. C. Sh. & Gulf Ter._1909-10__ 27,330
8,498
6,000 sur.
2,498
do
do
1908-09.. 26,184
6,563
563
6,000 sur.
Pt.Arth. Can. & Dock.1909-10.. 39,758 def.23,694
def. 73.894
50,000
do
do
1908-09.
41,612
def.
def.4,211
50,000
54,211
_
SHEET JUNE 30
1910.
190 9.
1910.
1909.
Assets—
S
Liabilities—
$
Property acct...a90 .677,032 89,135,269 Preferred stock ...21, ,000,000 21.000,000
Cash
for
notes
Common stock...30, 000,000 30,000,000
called for pay¬
1st mtge. bonds..30, 000,000 30,000,000
ment July 11909
6,000 5,100,000 Ref. & imp. bonds 10, 000,000 5,100,000
Agents and con¬
Notes called for
ductors
185,606
150,797
pay’t July 1 ’09.
6,000 5,100,000
Cash
..62 ,356,355
1,564,349 Equip, trust notes 1, 152,000 1,356,000
Material A supplies
848,482
797,310 Unpaid coupons..
279,582
147,589
Loans on collateral
Accrued interest.
232,290
233,595
security
1 ,711,004
Traffic balances..
183,227
165,871
Bills receivable.
55,140
178,665 Pay-rolls, Ac
990,841
1,151,620
Traffic balances.
340,629
Bills
329,626
payable
64,492
93,677
Individuals & cos.
463,857
389,387 Taxes, not due...
174,725
154,455
U. 8. Government
10,003
10,009 Renewal and re¬
Wells F.& Co.Exp.
31,002
serve funds
28,293
140,818
462,963
Investments in and
Pref. dlv. payable
advances to pro¬
July 15
210,000
210,000
prietary cos..1 ,829,105 1,289,550 Miscellaneous
180,257
94,105
Miscellaneous
187,861
159,830 Profit and loss
4, 087,844 3,863,209
_
_
Total assets
98,702,076 99,133,084
Tot. liabilities..98,702,076 99,133,084
Includes In 1910 cost of properties, $81,077,728, and Improvements and
rehabilitation, $10,458,589, less value of equipment, buildings and tracks
destroyed or abandoned, which, less salvage, has been charged to operating
expenses, $650,185; and also less credit of $209,100 to equipment from
renewal and reserve funds.
b The item of cash in 1910, $2,356,355, includes reserve for
dividend,
$210,000; reserve for coupons unpaid, $279,581; available for other pur¬
poses, $1,866.774.—V. 90, p. 167.
a
Louisville & Nashville Railroad.
{Report for Fiscal Year ending June 30 1910.)
The annual report of the Board of Directors (Mr. H. Wal¬
ters, Chairman, and Mr. M. H. Smith, President) is given
length on subsequent pages; also the income account and
balance sheet.
The latter is made up in the form prescribed
by the Inter-State Commerce Commission. The classifica¬
tion of accounts being at variance with the
accounting
methods heretofore used by the company, the
comparison
of items in the balance sheet with those of
previous years is
YEARS ENDING JUNE 30.
1908-09.
1907-08.
827
827
827
1909-10.
Miles operated
Operations—
Gross earnings per mile.
Net earnings per mile
freight only.
ROAD
Locomotives
Passenger cars
Freight, Ac., cars
Roadway cars
Operations—
Passengers carried
Passengers carried
have been compiled for the
ANDJEQUIPMENT.
Average miles operated
Equipment—
,
1909-10.
4,554
1908-09.
4,393
1907-08.
4,348
928
899
590
573
41,720
1,421
896
572
43,019
1,429
40,589
1,503
11,030,027
10,112,246 10,641,341
mile
477,050,940 433,684,066 445,151,339
Rate per passenger per mile.
2.263 cts.
2.320 cts.
2.379 cts.
Freight (tons) carried
30.155,217
24,403,952
23,256,502
Freight (tons) carried one mile
5119038899 4255981335 4020348694
Rate per ton per mile
0.751 cts.
0.763 CtS.
0.779 CtS.
Average train-load (revenue) tons
278
263
234
Earnings per revenue pass, train mile
$1.3059
$1.2855
$1.3473
Earnings per revenue fght. train mile
$2.0895
$2.0054
$1.8207
Gross earnings per mile
$11,513
$10,340
$10,263
EARNINGS AND EXPENSES. ’
Earnings from—
1909-10.
1908-09.
1907-08.
Freight
T_$38,421,779 $32,465,969 $31,334,941
Passengers
10,796,998
10,062,535 10,590,948
Mail...
865,966
854,800
831,530
Express
1,409,205
1,207,767
1,124,056
Miscellaneous
i
939,434
834,820
738,806
one
Total gross
earnings
Operating Expen es—
Maintenance of way, Ac
Maintenance of equipment
Traffic
expenses
General
1906-07.
827
$11,074
$10,103
$10,170
$10,548
$3,814
$3,944
$3,509
♦Tons carried
3,620,047
3,095,274
2,968,145
3,135,712
•Tons carried one mile. .996,940,502 889,119,698 927,699,200
997,916,269
Av. per ton per m. (mills)
7.25
7.47
7.23
6.99
Freight receipts per mile
$8,794
$8,053
$8,107
$8,435
Fgt. rec. per rev. tr. mile
$2.63806
$2.65040
$2.29652
$2.31937
Rev. train load, tons—
361.47
353.67
317.75
331.76
Rev. passengers carried.
1,860,020
1,644,918
1,557,058
1,509,935
Rev. pass, carried 1 mile 61,220,129
57,743,041
56,851,140 56,436,653
Avge. per pass, per mile 2.366 cts.
2.289 cts.
2.315 cts.
2.377 cts.
,
rendered impracticable.
The statistics for three years
“Chronicle” as below:
Transportation expenses
STATEMENT FOR
1908-09.
$6,638,420
1,306,078
827,466
1909-10.
Freight
$7,226,739
Passenger
1,430,114
Mall, express, Ac
937,799
Total receipts
$9,594,652
Operating Expenses—
Maintenance of way and structures. $1,047,348
Maintenance of equipment
1,195,699
Transportation expenses
3,346,463
*
The full text of the remarks of President J. A. Edson will
be found on subsequent pages.
Below we give various sta¬
tistics of interest.
Revenue
Receipts—
at
Common stock
165,518,500 121,559,500 102,956,500
Preferred stock outstanding
114,173,730 114,173,730 114,173,730
Funded debt (see “Ry. & Ind” Sec.) .302,004,953 311,218,820
315,454,421
Equipment depreciation fund
6,363,722
181,617
234,066
Equipment reconstruction reserve
446,029
887,643
Rail renewal fund
918,866
1,489,374
1,150,063
Bridge renewal fund
120,328
264,680
Tie renewal fund
482,815
95,388
831,013
Fuel reserve fund
1,016,916
313,677
155,427
Accrued taxes not yet due
1,856,292
1,614,237
1,494,139
Interest accrued not yet due
3,554,424
3,700,731
3,845,314
Coupons not presented
622,500
678,365
309,262
Pay-rolls.
3,544,621
3,t07,502
2,717,631
Dividend on preferred Aug. 1
2,854,345
2,854,345
2,854,345
Audited vouchers
7,256,159
3,119,555
3,117,236
Traffic balances
1,271,840
1,266,055
982,253
Miscellaneous accounts payable
2,664,921
1,501,681
1,220,506
Prior accounts In liquidation
50,000
Expenditures for add’ns & betterm’ts 13,280,921
4,000,000
Reserve for additions & betterments.
5,000,000
Profit and loss account (surplus)
20,231,804
18,821,251
20,352,865
*
Gross
TaxeS1:.
INCOME ACCOUNT.
Operating Revenues—
Freight
Passenger..
Mall, express and miscellaneous
lxxxxi
$52,433,382 $45,425,891 $44,620,281
$8,172,166
8,559,104
16,030,238
1,120,516
1,103,554
Operating expenses, exclud. taxes.$34,985,579
Per cent oper. expenses to earnings..
(66.72)
Net earnings.
$17,447,803
Receipts—
earnings..
Outside operations (net)
Net
INCOME ACCOUNT.
1909-10.
$5,257,038
7,832,021
14,587,773
999,655
951,012
$6,291,109
9,020,127
16,196.685
1,056,279
1,030,091
$29,627,499 $33,594,291
(65.22)
(75.29)
$15,798,392 $11,025,990
1908-09.
1907-08.
$17,447,803 $15,798,392 $11,025,990
121,232
def.75,555
43,061
Taxes
$17,569,035 $15,722,837 $11,069,051
11,602,632
,’602 ,’632
1,437,992
1,393,760
Income from invest’ts, rents A mlsc.
$15,966,403 $14,284,845
1,733,363
1.395.124
$9,675,291
1.277,607
$17,699,766 $15,679,969 $10,952,898
THE CHRONICLE
Oot. 8 1918.
1909-10..
$5,088,919
Disbursements—
Interest on bonds
N-. A D. RR. rentOther rents
118,061
289,331
Stnltidir fund..
266,240
General Interest—
To S. AN. A
Reserve for doubtful accounts
523,959
Dividends
118,061
303,255
118.061
235,874
251,792
9,733
264,302
-- — -
43.676
*3,300,000
*3,300,000
$11,486,510 $10,292,034
$6,213,256 $5,287,935
$9,737,974
(7)4,200,000
_ _ _
.
$1,214,924
5H% —V. 91, p. 518. 397.
New York New Haven & Hartford BR.
{Report for Fiscal Year ending June 30 1910.)
President Charles St Mellen, New Haven, Conn., Sept. 16
1910, wrote in substance:
General Results.—The total operating revenue tor the year is the largest
the history of the company, exceeding that of 1909 by $6,346,036, or
11 2-3%: the operating expenses increased $2,608,909. or 7H%, and taxes
increased $537,251, or 15.3%, of which the Federal Corporation Tax con¬
tributed $132,370.
Improvements, Ac.—The construction of six tracks on the Harlem River
& Port Chester RR. is completed.
The installation of an automatic signal
system is In progress.
The construction of double track between Hawleyvllle & Botsford Is under way.
Elimination of grade crossings and change
of line for about one mile at Brookfield Junction should be completed by
end
of
the
the year.
All work in connection with the New Haven cut and
trolley viaduct has been completed and the new facilities are In operation.
The improvements in and near Waterbury are completed.
Double track
Waterbury to Bristol, Is about 75% complete; so also is the tunnel at Terryville. Stone ballasting from Niantlc, Conn., to Back Bay Is progressing
n
satisfactorily; about 15 miles have been completed. Second track, Walpole
to South Framingham, including double-trackage wye atMedfleld Junction
and^automatlc signals, will be completed by the end of the present year.
Grade crossings eliminated:
Connecticut, 30; Massachusetts. 2.
Additions and Betterments, Aggregating {Net) $4,197,071.
Charged to: Cost of property, $1,177,264: equipment, $1,953,476; replace¬
ment fund, $1,066,330.)
Real estate ($62,640), new bridges ($55,194) and sidings ($25,383) $143,217
Second track. Western division
624,330
Improvements at Providence, Woonsocket, New Haven, Water¬
bury and Wallingford
Electrification Woodlawn-Stamford ($85,279); power plants and
transmission ($40,076)
Niantlc, Conn.,-Boston ballasting
337,481
125,354
power
159,373
232,310
390,840
Elimination grade crossings-.*,..,
Sundry additions and betterments
Less real estate and other property sold_
$835,644
New equipment: 2 locomotives (1 electric), 2,408 box cars, 29
other cars, 2 electrlo-wrecklng cranes, &c
1
3,019,806
Electrification to New Ilaven.—There has been completed 6,000 feet of
four and six-track single-phase electrification in the vicinity of Glenbrook,
Conn.
We have received one of the two electric freight locomotives de¬
signed to handle freight trains between Harlem River and New Haven or
heavy passenger trains between Grand Central Station and New Haven.
Surveys have been completed for the electrification of the main line and
yards on the Harlem River Branch; also for the electrification of the main
line between Stamford and New Haven,
Maintenance.—There have been laid in the main tracks 13,171 tons of
100-lb. rail; also 7,905 tons of 80, 78, 74, 68 and re-rolled 90-lb. rails.
Wages.—Serious advances In the wages paid to employees were granted
in the last quarter of the fiscal year ending June 30 1910, which advances
did not become effective to any great extent until the beginning of the
present fiscal year, July 1 1910.
Based upon the same number of em¬
ployees working the same time as in this past year, these advances aggre¬
gate as below, viz.:
Maintenance department, $162,900; general office
clerks, $58,500; operating department, $1,536,106; total, $1,757,506.
New Tariffs.—It was impossible to continue the business of the company
on the basis of the tariffs heretofore in effect and pay these Increased wages,
and changes were made ini our passenger tariffs to become effective as soon
_
as
possible under existing laws, substantially as below:
Tari/Js—Tctal Increase, Gross, $1,058,753; Net, $858,753.
York, Providence and Boston,
by rail (May 1 1910)
$109,869
y
Same by New England Navigation Co. (May 1 1910)
80,963
Five cents in and out of New York, one-way fares (June 4 1910,
inter-State; July 1 1910, Intra-State)
225,216
Five cents between Hartford and Springfield (June 4 1910)...
37,417
Increase
in
_
—
(July 23 1910)
305,692
Miscellaneous, in effect June 4 1910
20,516
Shrinkage due to increased useof mileage tickets, 20%. say, $200,000
The above increases should cover about 50%, of the loss occasioned by
the advances in wages above referred to, leaving the balance to be over¬
come by such increased proportions as will accrue from the advances In
through frei ht rates on connecting roads’ business, which advances have
suspended by the Inter-State Commerce Commission pending Investi¬
the reasonableness of the same. It Is believed such
ultimately, be allowed, though after considerable delay.
Dividend Prospects.—The above advances, with economies in operation,
should enable the company to maintain substantially the same net result
as heretofore and pay tne usual rate of dividend upon its stock.
Mergers.—Approval of the Mass. Railroad Commission to the merger of
this company with the New Haven & Northampton Co., Berkshire RR. Co.
and Rhode Island & Mass. RR. Co. has been given, and the consent of the
stockholders will be asked to the approval of these mergers at the annual
meeting.
All of these roads have for many years been operated by this
company, and In the case of the New Haven & Northampton and Rhode
Idafid & Massachusetts all the capital stock of said companies is held In our
treasury.' In the case of the Berkshire RR. Co. a very large percentage
of the capital stock is held in our treasury.
An enabling Act has been obtained from the General Court of Massachu¬
setts authorizing the purchase of the Milford & Woonsocket RR. Co. and
the Milford Franklin & Providence RR. Co., all the capital stock and in¬
debtedness of which companies are held in our treasury, and it is expected
the mergers will be completed before Dec. 31 1910, thus furthering our
policy of consolidating as fast as practicable into one company all the rail¬
roads owned, operated or controlled.
The Farmington Street Ry. Co. was merged and its obligations assumed
on Dec. 10 1909.
Your company has accepted the provisions of the Act
of 1910 of the General Gourt of Massachusetts authorizing the ownership
of the capital stock of Berkshire St. Ry. Co., and to date nas acquired by
purchase 19,365 shares out of a total of 19,481 shares.
Capital Stock.—There has been no Increase during the year In the capital
stock Issued, but tbe amount of stock outstanding In the hands of others
than companies controlled by your company has been Increased by the
sale of 55,600 shares, the proceeds of which were used to acquire other
property.
There still remain In the treasuries of subordinate companies
174,425 shares.
Indebtedness.—The outstanding Indebtedness of the company and Its
leased lines In the hands of the public has been decreased $4,195,327 (net)
during the year to the amount of as follows:
been
gation regarding
advances will
Decreases Aggregating $9,424,517.
Shore Line Ry. Co. 1st M. 4J4s ($200,000) and Housatonlc RR.
$300,000
Co. 1st M. 4s ($100,000) paid..
5% debentures paid (3-year$3,540,000, 2-year $10,000)
3,550,000
Hartford St. Ry. Co. 4% debentures, series “N” paid
145,000
Consolidated Ry. Co. debentures purchased and canceled
4% 1-ygar notes, Maroh 16 1910, paid
Miscellaneous
-
—
266,000
5,150,000
-
13,517
_
_
Total Net Decreases {Including Old Colony RR.), $4,195,327.
Net decrease N. Y. N. H. & H. RR. Co
5% 1st M. bonds Boston Clinton Fitchburg
___.._$2f283,327
& New Bedford
(Old Colony RR ) paid
1,912,000
Of the above Increase of $5,680,364 In “sundry notes payable," $1,500,000 have been paid since June 30 1910; of the balance, all but $100,000
Is owed to, and Is held by, subordinate companies the whole capital stock
of which is held in the treasury of your company.
The $60,000 1st M. 5% bonds of the Milford & Woonsocket RR. Co.
which matured Dec. 1 1908 and the $10,000 1st M. 6% bonds of the Mil¬
ford Franklin & Providence RR. Co. which matured Jan. 1 1909 have
been replaced by new 4% bonds, which are held in our treasury.
Boston Railroad Holding Co.—In the last annual report reference was
made to the organization of the Boston Railroad Holding Co. and to the
agreements by your company to purchase all the stock And bonds pf the
holding company that will be Issued for payment of Boston & Maine RR.
stock.
Pursuant to such agreements this company has purchased and now
holds 31,065 shares of rftock (the entire capital ) and $20,012,000, face
value, of 4% 50-year debentures of the holding company (the entire in¬
debtedness). The Boston Railroad Holding Co. (V. 91, p. 153; V. 90,
p. 1612; V. 89, p. 161) owns 6,543 pref. shares out of a total of 31,498 and
153,571 common shares out of a total of 288,413 of the capital stock of the
1
Boston 6s Maine RR.
=
Park Square Real Estate Trust.—A conveyance has been made of the
Park Square Station property, Boston, to the Park Square Real Estate
Trust for .52,000 shares of Its capital stock (V. 89, p. 1281).
Old Colony RR.—The capital stock of the Old Colony RR. Co. has been
Increased during the year by the sale of 9,850 shares, the proceeds of which
were used to pay on Jan. 1 1910 the maturing Boston Clinton Fitchburg A
New Bedford 1st M. 5s.
(V. 89, p. 1597. 1224.)
Maturing Obligations.—There will mature between Oct. 1 1910 and Oct. 1
1911 $4,376,500 obligations for which this company Is responsible, viz.:
Woonsocket & Pascoag RR. 1st M. 5s, $100,000, Oct. 1 1910, and
.
Farmington St. Ry. Co. debentures, $30,4)00 (called), Jan. 1 ’ll $130,000
Four-year debentures, $1,350,000, Jan. 11911;4% one-year notes,
$100,000, Feb. 2 1911
1,450,000
New Haven & Northampton Northern extension ext. 5s, Apr. I’ll
700,000
4 H% 3-year debentures, $2,000,000, May 15 1911; real estate
mortgage, $11,500, June 6 1911
2,011,500
Meriden Horse RR. 1st M. 5s, Oct. 1 1911
85,000
On Jan. 1 1911 there will become effective the right of the holders of the
$30,000,000 3 Y%% convertible debenture certificates of the Issue of Jan. 1
1906 to exchange such certificates for capital stook of the company In the
proportion of $150 face value 6f certificates for one share of stock; If the en¬
tire Issue is exchanged, $20,000,000 cap. stk. will be substituted therefor.
New Stock.—The stockholders on Oct. 27 1909 authorized an Increase In
the capital stock by the addition of 500,000 shares of $100 each.
Your
board of directors voted to issue 454,695 additional shares and to offer to
stockholders and the holders of convertible debentures the right to subscribe
at $125 a share.
Subscriptions were received fOr 446,438 new shares, and
there has been paid Into the treasury- to June 301910 on the first Installment
(due Dec. 20 1909) $13,951,187;on the second Installment June 20 1910
$13,722,969; In advance on account of the third installment, due Dec. 20
1910, $3,784,093; in advance bn account of the fourth installment, due
June 20 1911, $3,282,069—a total Of $34,741,219.
When the final Install¬
ment is
paid June 20 1911 the company’s capital stock will be Increased
by the addition of these new shares.
(V. 89, p. 114-2, 1223; V. 90, p. 1045.)
Balance Sheet.—The form of general balance sheet and exhibits supporting
same have been changed from that of previous years to harmonize with
the terms prescribed by the Inter-State Commerce Commission.
New Guaranties; [From foot-notes to balance sheet, In addition to guar¬
anty of 4% dividends on pref. stock of the New England Investment & Se¬
curity Co., $4,000,000, and payment of principal at 105% bn liquidation.]
The company “guarantees the payment of principal, $3,000,000, and Inter¬
est of the New England Investment 6s> Security Co. 15-year funding gold
notes dated April 1 1909; also guarantees thepayment of an additional $13,250,000 and Interest of New England Investment 6s Security Co. 15-year
funding gold notes dated April 1 1909 when requested to do so by John L..
Blllard, as per contract/* ~
. ^
t
The company guarantees the payment of principal and Interest of the
4% 50-year “first and refunding mortgage” gold bonds of the New York 6s
Stamford Ry. Co., dated Nov. 1 1908, to the amount of $274,000.
,
OPERATIONS AND FISCAL RESULTS.
.
Five cents per trip “family 50-trip tickets" (July l 1910)
31,662
Commutation to & from N.Y. A points in N.Y. State (July 1 1910) 118,390
Commutation between N.Y. & interstate points (June 4 1910)
102,466
Between New Haven, N.Y., Bridgeport, boat lines, 25c. and 10c.
(June 4 1910)
4
26,562
Increase from 2 to 2X and 2Hc. per mile certain lean lines
_
__
Ten cents advance between New
—
>
Convertible debentures (6s of Jan. 15 1908, $1,430,250; 3Hs of
Jan. 1 1906, $576)
r*j._u
$1,430,825
5% debentures of Farmington Street Ry. Co. assumed
30,000
Sundry notes payable.
5.680,364
Cr.l08;4l6
--—-
Total disbursements
Balance, surplus
*
$5,882,252
411,403
increases Aggregating
1907-08.
1908-09.
$5,995,013
941
1909-10.
'
1908-09.
1907-08.
Miles
2,042
2,044
2,047
Locomotives
1,220
2,522
1,228
2,437
34,184
1,213
1,236
2,356
29,821
operated June 30
Equipment—
Passenger cars
Freight
Other
35,716
cars
1,179
cars
1.034
Operations—Revenue passengers and freight only.
Passengers carried..
82,005,137 75,957,983 75,555,969
Passengers carried 1 mile
1506907990 1401652879 1399706539
Rate per pass, per mile
1.630 cts.
1.651 cts.
1.643 cts.
22,738,981
19,968,272 18,851*844
Freight (tons) carried
Freight (tons) carried one mile
2124680965 1872419423 1787661842
Rate per ton per mlle^.
1.420 cts.
1.414 Cts.
ic1.417 cts
Pass, earnings per mile of road
$12,887
$14,638
$12,837
Pass, earnings per train mile. _■*.
$1.74
$1;85
$1.66
Freight earnings per mile of tend
$14,988
$13,021
$12,350
Freight earnings per train mile
$3.85
$4.16
$3.43
93
89
Average No. passenger train miles
96
271
243
293
Average No. tons train mile..
,
$
Earnings—
*:
$
$
Passenger department
29,005,890 26,323,469 26,279,301
30,110,588 26,595,970 25,281,435
Freight department
Miscellaneous
1,577,189
1,428,192
1,489,411
Total
60,693,668
Expenses— 5
f
*
Maintenance of way, &c
Maintenance of equipment
Traffic
Transportation
General
Total
Percentage of expenses to earnings._
Net earnings
Net rev. from outside operations
1
Net earnings steamship
Net Connecticut Co
lines
53,050,147
7,132,376
6,461,772
350,943
22,942,675
1,801,450
6,130,606
5,906,357
309,000
22,491,376
5,983,826
6,913,169
1,242,968
23.625,504
1,379,834
38,689,216
36,080.307
38,213,558
Dividends on stocks
Interest on bonds
Miscellaneous Income
Rents received
Hire of equipment
(63.74)
(66.38)
(72.03)
18,267,324
1,214,307
14,836,590
a2,254,278
3,644,315
498,674
2,745,758
25,567,200
3,983,377
23,125,946
3,446,126
19,293,111
3,338,306
21,583,823
3,504,569
19,679,820
1,959,333
674,433
1,609,581
350,142
15,954.805
894,700
714,991
1,889,002
363,458
28,320,970
24.273,309
19,816,956
Rentals of leased lines
Rentals other than above
Hire of equipment
&% on stock
Miscellaneous
-
&c
10,677,459
5,133,717
1,702,430
10,424.932
3,956,294
1,978,281
460,430
7,883,842
7,566,045
/l,212,089
l
887,104
2,012,294
332,125
1,055
Total net income
Deduct—
Interest on bonds, debentures,
311,225
22,004,452
1,308,470
J
Total net revenue
Taxes
Total
Balance for year.
54,347,631
i
09,759,081
10,490
27,283,177
surl ,037,793
4,581,182
1,784,299
628,861
7,783.262
23443
24.726,922 22,333,649
def453,613 def2,516,693
a Earnings of Connecticut Co. frdm July 1 1909 to Feb. 28 1910.
eludes dividends Nos. 1 and 2 on part-paid stock, $446,395;
b In-
942
THE CHRONICLE
EARNINGS OF'JJON TROLLED COMPANIES—YEARS END. JUNE 30.
(1) Central New England Railway.
Gross
Revenue.
Fiscal
Year—
Net
Other
Inc.
Deductions
Revenue.
Taxes.
Rents.
All Int.
$
$
$
$
$
$
1909-10..__3.022.720 1,289,488 63,186 104,875 216,496 616,422 414,881
1908-09
2,530,213
931,030 56,849
77,017 214,490 576,307 120,065
“Rentals” In 1909-10 Include “Hire of equipment,” $104,973, against
$95,669 in 1908-09.
—New Eng. Nav. Co.
H. A N. Y. T. Co.—
(2) Steamship Cos.—
1909-10.
1908-09.
1909-10.
1908-09.
Gross earnings
$5,044,737 $4,944,825
$1,210,645 $1,087,106
Operating expenses
4,221,992
4,054,381
931,708
814,728
Net earnings
$822,745
Other income.
2,430,699
Total income
$3,253,444
Deduct—Taxes
$95,105
Interest on bonds, &c.
1,539,566
Miscellaneous
$890,445
910,896
$278,937
$272,378
40,541
$1,801,341
$55,825
1,048,690
$278,937
$15,962
11,565
28,387
$312,919
$11,567
20,412
1,466
Total deductions... $1,634,671
Net income
$1,618,773
$1,104,515
$55,914
$33,445
$696,826
$223,023
$279,474
(3) Trolley Cos.—Connecticut Company and Rhode Island Company.
[The Rhode Island Co. operates the trolley lines controlled in Rhode
Island; see Providence Securities Co. in “Electric Railway” Section.
The Connecticut Company (wholly owned) operates under contract all the
street railways, electric-lighting and water-supply companies in Connecti¬
cut owned and controlled by the N. Y. N. H. & Hartford RR. Co.; see
Consolidated Railway in “Electric Railway Section.”]
■
Connecticut Co.—
1908-09.
Earnings—
Passenger
Mall, express, &c
-Rhode Island Co.—
1909-10.
1908-09.
1909-10.
$6,775,445
282,061
27,430
46,926
49,148
Advertising
22,867
Mlsc., incl. gas, It.&water
x740,436
Chartered cars
Sale of power
Park earnings
Total earnings
$6,416,338
$7,944,313
Operating expenses—
Malnt. of way & structs.
$834,048
Maint. of equipment
518,725
Operation of power plants
784,590
Operation of cars
1,735,549
General expenses
588,678
Miscellaneous expenses.
283,435
$7,988,831
Total oper. expenses. $4,745,025
Net earnings
$3,199,288
Other Income
$4,305,604
Total income
$4,136,285
187,729
233,702
28,428
39,778
62,116
29,687
1,178,782
$3,876,746
13,655
57,538
172,894
11,998
56,076
16,477
29,125
16,846
26,225
$4,440,809
$4,160,785
$572,107
450,556
753,010
$316,391
264,124
375,289
1,044,953
536,929
1,624,210
568,376
337,345
$2,537,686
$1,903,123
$3,683,228
$198,113
265,071
368,120
1,008,566
474,083
62,113
$2,313,954
$1,846,831
32,173
$3,683,228
326,202
38,913
$1,965,236
1,391,671
$1,879,004
1,409,797
Net surplus Income._i/$2,873,086
$3,644,315
$573,565
$469,207
x The operations of the Gas Light & Water Co. departments
from Mch. 1
1910 are included In the income account of the Housatonic Power Co.
M Net Income to Feb. 28 1910, amounting to $2,254,279, paid over to
N. Y. N. H. & H. RR.
[The “net Income” of the Rhode Island Co. ($573,565 In 1909-10), It is
understood, is Included in one or more of the items of “other Income” in
the statement of N. Y. H. H. & H. RR. above.
The net earnings of the
“Connecticut Company” from July 1909 to Feb. 28 1910 only ($2,254,279)
appear as a separate item in the general Income account above, while the
Interest and other charges of the Connecticut trolley, &c., companies, in¬
cluding the $1,039,167 paid as rental to the Connecticut Ry. & Ltg. Co.,
are Included in the fixed charges of the parent
company.]
Housatonic Power Co.
Operating
$363,0121 Interest, rentals,
246,7901 Balance, surplus
revenue
Total net Income
&c
$144,139
102,651
Includes operations from Mch. 1 1910 of Gas Light & Water departments,
formerly operated by the Connecticut Co. (see above).
(1) Securities oj Proprietary, Affiliated and Controlled Companies.
-June 30 1910Stocks—(unless other¬
June
30
1909
wise indicated):
Par Value. Book Value. Par Value. Book Value.
Bennington & No. Ad¬
ams St. Ry. Co
$650,000
$564,506
$650,000
$564,506
Berkshire RR. Co
856,100
1,526,095
816,000
1,458,733
Berkshire St..Ry. Co
1,928,800
2,891,227
Bos. & Prov. RR. Corp.
217,800
665,971
194,700
596,966
Boston Terminal Co
200,000
200,000
200,000
200,000
Gent. New Eng. Ry. Co.:
Common
4,488,550
702,298
4,432,650
664,477
Preferred
3,471,000
879,769
3,420,100
r
853,891
Connecticut Company.: 40,000,000
40,000,000
275,000
275,000
Harlem River & Port
Chester RR. Co
1,000,000
1,000,000 - 1,000,000
1,000,000
Harlem River & Port
Chester RR. Co. notes
23,555,833
Mlllbrook Co
100,000
109,500
100,000
109,500
N. H. & Northam. Co__
2,460,000
984,000
2,460,000
984,000
N. Y. Connect. RR. Co_
1,500,000
1,527,204
1,500,000
1,527,204
do
do
notes.
491,292
N. Y. Out. & West. Ry.
($2,200 pref.)
29,162,200
13,108,398
29,162,200 13,108,398
N. Y. & Stam. Ry. Co__
500,000
610,643
500,000
610,643
do
do
notes or bds.
290,031
274,000
277,958
N.Y.Westc.&Bos.Ry.Co. 4",924,866
5,920.095
3,053,100
1,510,995
1st M. 5% gold bonds. 15,100,000
15,100,000
11,111
16,577
Norwlch&Worc. RR.Co.
69,200
158,230
55,000
127,489
Old Colony RR. Co
7,749,400
9,299,983
6,904,300
7,652,039
Prov.&Worc. RR. Co._
311,800
912,426
266,900
791,086
Rhode Island Co
9,685,500
24,220,979
8,510,400
23,045,879
City & County Contract
Co. notes
150,000
Westc. St. RR. advan’s
907,840
Miscellaneous stocks
370,301
581,663
..
Total book value
$146,146,621
(2)
$55,957,005
Miscellaneous Investments.
$3,106,500 $3,106,500
Bos. RR. Holding Co
Hart.&N.Y.Trans. Co.
M. & M. Trans. Co
do
do
bonds..
New Eng. Nav. Co
53,000,000
Park Sq. R. E. trust
52,000 shrs.
do
do
notes
$3,283,000
2,500,000
_
Miscellaneous
Total-
54,510,969
5,071,332
500,000
316,055
$3,519,955
2,500,000
3,250,000
13,510,969
3,250,000
12,000,000
167,605
$63,504,857
$22,948,529
(3) Securities Issued or Assumed, Held in Treasury.
N.Y. Prov. & Bos. RR.
gen.M.4s($201,000),etc.
201,700
211,715
(4)
Marketable Securities.
Bos.RR.Hold.4% debs.$20,012,000 $20,012,000
Cent.N.E.Ry. 5% Inc’s.
7,037,442
5,303,946
1st M. 5s
_____
P.&E. 1st M. 5s.__._
N.D.&C. 6% Incomes
Notes
Benn. & Nor. Adams St.
Ry. notes
Miscellaneous
Total
_
_
_
_
192,000
500.000
1,164,500
201,593
500,000
405,992
6,368,123
190,000
500,000
1,164,500
4,633,731
199,500
500,000
405,992
2,592,389
351,498
197,788
$29,566,208
450,000
450,500
109,093
$6,£98,816
LXXXXI
..
[Owing to change in form of balance sheet, comparisons with
many items
.n earlier years are
Inaccurate, especially property accounts.]
*
1910.
1909.
1908.
ASS€tSm~~mmm
^
^
$
Road and equipment
al74.696.093 207,453,314 246,308,465
Securities of proprietary, &c., cos.
(table No. 1 above)
146,146,621
Advances to proprietary, &c., cos..^
1,161,672
Mlscell. Invests, (table No. 2)
63,504,857 107,498,967
68,626,178
Securs. in treasury (table No. 3)
211,715
Marketable securs. (table No. 4).... 29,565,205j
Real estate. Park
Square, Boston, and
South Street, N. Y., held for sale..
5,169,752
5,210,000
Advances to leased lines not
control’d,
for improvements and betterments.
2,659,527
3,843,525
Material and supplies
3,461,208
3,406,911
4,595,171
Agents and conductors
2,248,770
2,111,802
2,019,450
Traffic balances
325,335
Accrued interest, dividends & rents-.
970,8431 10,361,827
4,340,956
Miscellaneous
accounts
Bills receivable
Cash In banks and on hand
\
Cash for Interest and dividends
___/
Insurance fund
Accident and casualty fund.
Deposit for Harlem River & Port
Chester first mortgage bonds
N. H. & North. Co. sink, fund (cost).
Other sinking, &c., funds
—^
-
-
4,588,518/
10,798
'
*
*
Prepaid Insurance, rentals, &c
& working funds
Temporary advances
Other deferred debit items.
Total assets
Liabilities—
19,913,158
6,553,785
19,571,742
3,581,537
1,188,590
800,636
18,099,041 /16,662,321
1 4,177,645
,
1,455,408
523,119
1,103,703
275,344
229,840
238,680
247,520
935,172
255,814
94,355
’
441,509
87,992
1,352,742
2,008,424
353,297
14,105
450,764,377 381,400,353 368,498,235
Capital stock
Premium on capital stock sold
Debens., &c., incl. merged r’dsassu’d
Bonded debt, incl. merged r’ds assu’d
Real estate mortgages
Bonded debt constituent companies.
Obligations for advances received for
construction, &c
$3,199,288
Taxes, rentals, &c
BALANCE SHEET JUNE 30.
Bal
Sur
$
[VOL.
144,017,425 100,000,000
97,895,700
20,630,720
173,380,000 175,898,875 173,595,750
58,661,000
58,961,000
56,849,000
11,500
23,500
2’,108,000
474,804
Reserve for equipment and personal
property held under leases
9,958,672
11,455,985
Traffic, &c., balances
1,387,085
1,511,666
Vouchers and wages
4,124,853
3,866,262
Loans and bills payable
5,780,364
5,250,000
Miscellaneous accounts payable
135,785
Int., dlvs., rents, Ac., due & unpaid.
4,500,6851
6,8*30,321
Accrued Int., dlvs. and rents
2,885,826/
Mlscell. reserve and suspense acc’ts.
838,745
N. H. & North. Co. sinking fund
Equipment replacement fund
1,955,869
Deferred credit items
58,356,331
Appropriated surplus
c2,263,073
1,808,686
Profit and loss account
14,196,253
12,999,443
7,630,483
2,507,154
4.564,332
55,700
333,421
5,899,820
...
587,561
935,172
1,071,413
_
Total liabilities
1,604,238
12,860,490
450,764,377 381,400,353 368,498,235
Road and equipment In 1910 ($174,696,093) consists of road and
equip¬
ment, $170,222,450; floating equipment, street railways and other prop¬
erties, $6,346,363; total, $176,568,813; less $1,872,720 reserve for accrued
depreciation of equipment, b Deferred credit items Include advance
pay¬
ments of third and fourth Installments of subscriptions to new
capital stock,
$7,067,063, and miscellaneous, $1,289,268. c Appropriated surplus in 1910
Includes Connecticut Ry. & Lighting Co. sinking fund,
$284,546; Insurance
fund, $1,435,753; accident and casualty fund, $523,119; coal Insurance
fund. $19,655.
Note.—Contingent Liabilities.—The following contingent liabilities are
not Included in the balance sheet of June 30 1910:
(1) Joint liability with other roads for any deficiency on foreclosure of
bonds of the Boston Terminal Co.
(2) Guaranty to pay 4% dividends on preferred stock of the Springfield
Ry. Cos., $3,387,950, and principal at 105 on liquidation.
(3) Guaranty to pay 4% dividends on preferred stock of New England
Investment & Security Co., $4,000,000, and principal at 105 on liquidation;
also principal and interest of the 15-year funding gold notes dated April 1
1909, $3,000,000, and an additional $13,250,000 and interest of the lastnamed issue of notes when requested to do so by John L. Blllard, as
per
a
contract.
(4) Guaranty of principal and Interest of the debentures of the Provi¬
dence Securities Co., $19,899,000.
(5) Guaranty of principal and interest of gold debentures of the New
England Navigation Co. in case of termination of lease of the Old Colony
RR. Co., $3,600,000.
(6) Guaranty of principal and interest of the 4% 50-year refunding
consolidated mtge. gold bonds of the New Haven & Northampton
Co.,
dated June 1 1906, $2,400,000.
(7) Guaranty of principal and Interest of the 4 % 50-year first and refund¬
ing gold bonds of the New York & Stamford Ry., $274,000.
(8) Guaranty of principal ($1,000,000) and Interest of the 4% 30-year
2d mtge. bonds of the Harlem River & Port Chester RR., dated June 1
1881.
The principal of these bonds, together with Interest to
maturity,
has been deposited with the Farmers’ Loan & Trust Co., trustee.
(9) Guaranty of principal, dividends and interest on any capital stock,
bonds, notes, Ac., of the Boston RR. Holding Co. acquired by the com-
when they stock
shall be
Y. N.
Eany
eld $3,106,500
On June
1910 theCo.N. and
H. & H.
of sold.
the Boston
RR.30Holding
$20,012,000
4% 50-year debenture bonds due Nov.|1959.—V. 91, p. 871, 337.
St. Louis Southwestern
Railway.
(Report for Fiscal Year ending June 30 1910.)
President Edwin Gould, Sept. 15, wrote in substance:
Funded Debt.—The net Increase of $220,563 in the funded debt of the
system Is accounted for as follows:
First consolidated mortgage bonds Issued (compare V. 90, p. 560)
$900
Equipment trust obligations Issued—Tojacqulre 150 ballast cars,
$186,322; to acquire 16 locomotives and 23 passenger-train
cars, $460,000 (V. 90, p. 1364, 1491); total
646,322
Less amount of equipment trust obligations paid..
$426,659
[The Issue of $722,000 equipment bonds dated Jan. 1 1910 was with¬
drawn.
Compare V. 89, p. 1598.—Ed.]
Central Arkansas A Eastern RR. Co. Lease.—Subject to ratification by
our stockholders, control of the Central Arkansas & Eastern RR. Co. has
been acquired, through a 30-year lease, dated July 1 1910, under which
your company is given the right at any time to purchase the property,and
guarantees the principal and Interest of 1st M. 5% 30-year goldbonds, to be
Issued at $25,000 per mile of main track or extensions now owned or
hereafter constructed or acquired.
The company now has In operation
9/4 miles of railroad, extending from England, Lonoke Co., Ark., to Mc¬
Gregor, and Is constructing an extension from McGregor to Stuttgart,
Ark., 13/4 miles, and from a point near Stuttgart northerly about 17 miles.
The line will pass through a virgin forest of fine timber and a good agri¬
cultural country, producing cotton and rice.
(V. 90, p. 1045; V. 91, p. 397.)
Stephenville North A South Texas Railway Co. Purchase.—Your company
has acquired ownership of the Stephenville North & South Texas Ry. Co.
by purchase of all of its capital stock and guaranteeing the payment, both
_
as to principal and Interest, of its issue of 1st M. 5% 30-yeargold bonds,
not exceeding $25,000 per mile of main track or extensions now or here¬
after constructed or acquired.
That company now operates a line of
railroad from Stephenville, Erath Co., Tex., to Hamilton, Hamilton Co.,!
Tex., 42.61 miles, and has under construction extensions from Hamilton
to Gatesvllle, in Coryell Co., Tex. (about 32 miles), and from Hamilton to
Comanche, Comanche Co., Tex. (about 35 miles).
A third extension la
also contemplated from Stephenville to Thurber, Erath Co., Tex. (about
26 miles), which will afford access to the coal fields In that vicinity.
The
Stephenville line traverses an exceptionally fine and fertile country, cotton
and grain being the principal products of that section (V. 91, p. 397). : ‘
Proprietary Interest in Terminal RR. Association of St. Louis.—By an
agreement dated May 24 1910, a proprietary Interest In the Terminal Rail*
road Association of St. Louis has been acquired, one-fifteenth of its capital
Oot. 8
THE CHRONICLE
1910.]
1
==============:
stock being vested In your company, thereby making It an equal owner
with the 14 other lines, members of the Association.
We have also taken steps to acquire suitable property at St. Louis on
which to construct a commodious freight house, team tracks, &c.
Charged OJJ.—The rules prescribed by the Inter-State Commerce Com¬
mission provide that dlscounton securities issued may be charged to income
account annualy during the life of the security, or may be charged to
Your company has accordingly
profit and loss account In a lump sum.
charged all discount on first consols sold since July 1 1907, amounting. In
the aggregate, to $722,150, to profit and loss during the current fiscal year.
The amount of discount on bonds sold from July 1 1907 to June 30 1909
amounted to $301,650, and during the current fiscal year $420,500.
Dividends on Pref. Stock.—Taking Into consideration the accumulated
surplus, the net corporate Income for the year and the steady growth In the
volume of business of your properties, the board of directors declared two
semi-annual dividends, of 2H% each, on the outstanding pref. capital
stock, payable on Jan. 15 and July 15 1910.
General
and
Vice-President
Manager
F.
943
=====
Britton,
H.
Sept. 1 1910, wrote in part:
CONDENSED BALANCE SHEET, JUNE 30.
1910.
1909.
1910,
Liabilities—
$
$
$
Assets—
Road and equip.a80,705,680 79,687,927
Securities
614,197,178 14,196,176
Mlsc. Investments
10,130
39,654
Cash
1,220,565 1,479,933
Secur. held in treas.
250,250
250,250
Marketable secur’s
706,834 2,699,936
Material A supplies 1,617,543
1,479,115
Traffic bal. (net).
26,295
27,690
Loans & bills rec’le
203,386
49,519
Mlscel. accounts.. 2,372,376
1,919,651
Acer. int.,divs., Ac.
171,502
170,951
Advances
1,549,612 1,691,295
Special deposits
541,278
..
276,934
Oth.def.debit items
Operating Revenues.—A continuation of the favorable business conditions
development of the territory traversed by this line.
freight revenue was $512,277, or 6.62%. On account of
drought and decreased acreage, the cotton yield In the Southwest during
the current year was somewhat below normal, resulting In a decrease In the
tonnage of that commodity of about 30%, while the movement of lumber
and Its products about equaled that of the previous year.
Practically all
The Increase In
other classes of traffic show substantial gains.
The rice Industry In Arkansas has continued Its wonderful development
during the current year.
An area of approximately 60,000 acres was
devoted to rice culture, being an Increase of more than 100% over the pre¬
ceding year.
The acreage of corn In Arkansas and Louisiana has been
largely Increased.
The fruit and early vegetable crops In Eastern Texas
were exceptionally large and of superior quality, and the results prove that
the Texas peach comes to market early enough to avoid competition wltn
the fruit from other sections.
Rate Litigation.—The rate litigation with Missouri referred to In the last
report (V. 89, p. 912) Is still pending, the State having carried the case to
the U. S. Supreme Court for final adjudication.
The temporary restraining order Issued by the U. S. Court granting
.Arkansas carriers relief from the freight rates promulgated by the State
Commission, and the maximum 2-cent passenger rate prescribed by the
Legislature, Is still In effect, pending the final hearing.
Exhaustive testi¬
mony has been taken and It Is believed a permanent order will be made
before the close of 1910.
The final decision. If adverse to the carriers,
will not only affect their future revenues, but should reparation be ordered
on business handled since the temporary Injunction was granted (Sept. 3
1908), refund will have to be made accordingly.
Operating Expenses.—The Increase of 13.64% in maintenance of way and
structures Is accounted for principally by charges covering the maintenance
proportion of new and heavier rail and other material put In track, on 135
miles of track, and the maintenance proportion of amounts expended for
new steel bridges and gravel-deck creosoted trestles of Increased carrying
capacity, replacing old structures.
Notwithstanding the Increase of 6.34%
in operating revenues, transportation expenses show an Increase of 1.46%
only.
These expenses would have shown a decrease had It not been for
the Increased cost of fuel occasioned by the miners’ strikes, commencing
during March 191C .n the coal districts contiguous to this line.
The operating expenses were also slightly affected by an advance In
wages paid employees generally, which took effect In the latter part of the
year.
These advances In wage schedules will materially Increase the cost
of operation for succeeding years.
Additions and Betterments.—There has been expended to June 30 1910
from current funds and for which no securities have been Issued, for “addi¬
tions and betterments to road,” the sum of $1,268,104; of this amount,
$883,266 was expended during the current fiscal year [notably grade re¬
visions and changes of line, $95,985; bridges, trestles and culverts, $150,184,
and Increased weight of rail, $152,787],
New Balance Sheet.—The general balance sheet statement Is made up
In the form prescribed by the Inter-State Commerce Commission, and for
purposes of comparison the figures and groupings as of June 30 1909 have
been re-cast to conform with the order.
__
Miles—
1910
1909
1908
1907
_.
..
..
..
of Steel Rail in Main Track June 30.
85-K>.
8.95
8.95
8.95
8.95
..
Rock.
157.16
179.02
174.85
153.32
75-lb.
935.71
830.10
824.23
823.83
70-lb.
30.67
30.67
30.67
30.67
60-lb.
6.15
6.15
6.15
6.15
56-K>.
340.32
416.85
422.50
406.96
35-Jb.
4.05
33.13
33.35
33.55
OPERATIONS, EARNINGS, EXPENSES, CHARGES
'
1907-08.
1908-09.
1,470
1,473
1,464
Total.
1,325.85
1,325.85
1,325.85
1,310.11
1,310.10
,
&c.
1906-07.
1,452
Not including company’s freight
1909-10.
1908-09.
1907-08.
$
1,924,515
7,173,799
415,415
84,534
Passenger
2,205,196
Freight
8,243,954
447,303
90,063
$
2,091,121
7,731,677
428,531
80,561
10,986,516
10,331,889
9,598,264
2,150,727
1,857,527
414,762
3,276,478
446,563
1,892,498
1,866,662
366,883
3,229,425
431,625
1,769,697
1,686,495
345,730
3,353,936
424,565
8,146,057
2,840,459
7,787,093
2,544,796
def.10,159
7,580,423
2,017,841
def.4,900
2,534,637
268,704
2,012,940
293,786
1,719,154
399,905
118,764
$
Operating Income—
Mall, express, &c
.
transportation.
Total operating revenues
Expenses—
Maintenance of way and structures.
Maintenance of equipment
Traffic expenses
Transportation expenses
General expenses
_
Total operating expenses
Net operating revenue.
Net from dining & special car service.
def.12,611
Total net revenue
Taxes accrued
2,827,848
Total operating Income
Hire of equipment—balance
Joint facilities.
Interest on Investments, Ac
2,458,144
200,735
173,485
170,901
2,265,933
545,121
3,003.265
477,545
2,743,478
742,171
2,461,325
1,687,133
126,080
33,098
V 25,000
274,077
1,640,283
130,420
2,145,888
598,089
(2)397,873
2,141,500
319,824
369,704
Total net income
Deduct—
„■
•
_
Rents—leased roads
Ac
Total deductions.
Balance, surplus for year
Preferred dividends
98,444
134,930
244,171
223,502
-
Int. on first and cons. mtge. bonds.
Int. on 2d M. Ine. bds. held by public
Other Interest and miscellaneous
Rents—joint facilities,
„
103,849,563 104,075,028
The company says:
another week.
It will be noted that maintenance expenses
Increased $4,142,353 and
Of the increase in
conducting transportation increased $3,739,576.
transportation expenses $1,973,533 was for increased payments to labor.
Taxes increased $1,074,165.
Maintenance and taxes together increased
$5,216,518,as compared with a decrease in net income,after all charges and
deductions, of $2,598,091.
INCOME ACCOUNT.
. —
1,690,440
121,700
62,362
25,000
287,297
2,186,799
816,466
(5%)994,683
_____
,
.
1908-09.
1907-08.
$
47,073,305
17,330,608
3,416,102
$
46,423,836
18,133,238
3,065,076
73,763,866
761,960
67,820,015
640,732
67,622,151
598,526
74,525,826
12,928
68,460,747
12,071
68,220,677
12,110
10,842,955
8,992,137
7,847,050
1909-10.
$
Operating Revenue-
48,758,786
21,333,313
3,671,817
_
_
_
_
Per mile (average)
Operating Expenses_
.
Trafflc
8,762,297
8,572,717
807,849
20,659,119
1,038,701
45,987,405
(61.71%)
28,538,421
38.020,004
39,840,684
(55.54%)
30,440,743
(58.40%)
28,379,993
602,475
429,359
640,925
29,140,896
3,622,000
30,870,102
2,547,835
29,020,919
2,717,486
25,518,896
28,322.267
26,303,433
3,795,727
160,578
3,245,419
452,219
3,975,763
138,380
29,475,201
32,019,905
30,417,577
509,928
6,669,014
337,136
6,775,003
7,098,908
17,360,000
3,268,416
14,105,000
10,850,000
24,538,942
24,485,555
21,374,509
4,936,259
7,534,350
9,043,068
2,784,950
4,936,259
7,534,350
6,258,118
24,045,197
1,070,712
.
.
_
-
'
7,845,689
919,199
20,305,621
1,102,445
1,036,404’
.
Sleeping parlor, observation, dining
and cafe
cars
and restaurants
.
_
-
Dividends and interest
int. on deposits
Hire of equipment
on
securities,
A rentals receivedL
i.
_.
Rentals paid.
_
Interest
stock
and
commissions
on
70,189
25,000
275,608
j_.
318,718
new
subscriptions
_
-
1.325.85
INCOME ACCOUNT.
'
Total
Railway.
{Report for Fiscal Year ending June 30 1910.)
Below we give the income account as appearing in the
pamphlet report. The text and further data will be given
1,325.85
1,325.85
Operations—
Rev. other than from
630,116
136,338
885,739
5,665,565
Northern Pacific
_
2,077,082
Passengers carried
2,261,965
2,258,455
2,217,806
83,274,470
86,540,407
87,919,405
Passengers carried 1 mile 83,964,450
2.42 cts.
2.34 cts.
2.19 cts.
Rate per pass, per mlle_
2.58 cts.
Tons freight moved*
2,944,168
3,075,230
3,062,042
2,946,126
do
do
1 mile*
796,502,040 716,547,816 709,010,635 736,752,813
1.05 cts.
Rate per ton per mile*._
1.01 Cts.
1.08 cts.
1.04 cts.
Earns, per pass, train m.
$1.1243
$1.0815
$1.1825
$1.2303
Earns, per freight tr. m.
$2.9269
$2.6549
$2.8134
$2.9330
Gross earnings per mile.
$7,029
$6,555
$7,458
*
accrued
735,364
Taxes accrued
158,893
Del’d credit items. 1,022,915
Profit and loss
4,826,256
&c.,
pledged, $1,670,467, and unpledged, $22,378, and St. L. So. Ry. securities
pledged, $12,504,333.—V. 91, p. 393, 397.
Total.
>
Average miles operated_
255,704
39,705
divs.,
Int.,
Deduct—
Ballast and Bridges in Main Track June 30.
Gravel. Cinders. Nat. Soil. Bridges.
Trestles.
1.47
47.37
642.02
89.93
387.90
1.47
47.06
628.04
89.05
381.21
1.47
48.34
628.64
388.48
84.07
70.89
48.06
634.94
1.37
401.53
1909-10.
281,246
100,546
Miscel. accounts..
Road and equipment In 1910 ($80,705,680) Includes Investment to
June 30 1907, $78,866,537; Investment since June 30 1907, $2,846,824;
less reserve for accrued depreciation of existing equipment, $1,007,681.
b Includes securities of proprietary, affiliated and controlled companies—
_
Miles
1910
1909
1908
1907
Int., divs., dec.,due
a
of the preceding year resulted In an Increase In total operating revenues
for the fiscal year of $654,627, or 6.34%.
This Increase reflects the steady
Character
$
*382,931
103,849,563 104075,028
Total
1909.
Common stock
16,500,000 16,500,000
Preferred stock...20,000,000 20,000,000
Bonds (see “Ry. A
Ind.” section)..69,213,663 58,993,100
Loans Abllls pay’le
120,000
150,000
Vouchers A wages
848,761
860,680
-
3.106.883
—V. 91, p. 39.
National
Railways of Mexico.
{Preliminary Report for Fiscal Year ending June 30 1910.)
CONDENSED INCOME ACCOUNT
1909-10.
$
earnings
Operating exp
Gross
(MEXICAN CURRENCY).
1908-09.
$
52,562,293 48,805,522 Sundry adjustm’ts
31,593,557 29,166,893 Deprec’n reserve..
1909-10.
$
*111,652
980,000
1908-09.
$
1,082,416
1,340,400
Reserve to repair
Net earnings...20,968,736 19,638,629
flood damages.. 1,000,000
Other income
1,188,536 1,386,094 Int. on bonds, Ac.16,739,744 16,975,944
Transf. to res. fund
141,828
63,357
Total
22,157,272 21,024,723 Dlv .on 1st pf .sh. (3) 1.729,974 (2) 1,153,316
Deduct—
Taxes and rentals.
Total deduc’ns_21,192,505 20,974,253
413,068
335,986
Op.defs.ofsub.cos.
76,239
22,834 Balance, surplus..
964,767
50,470
*
Sundry adjustments include In 1909-10 material adjustment account, $50,000,
on additions and betterments in suspense, $61,652; and In 1908-09
adjustments of operating expenses of and claims made on constituent companies,
$1,082,416.
and reserve
As to authorization of
—V. 91, p. 717, 589.
an
additional dividend of 1%, see item on another page.
Distillers Securities
Corporation.
{Report for Fiscal Year ending June 30 1910.)
President E. J. Curley, Sept. 30 1910, wrote in substance:
The operating efficiency of the plants has been maintained, and the cost
($225,191) has been charged against earnings.
All accounts between the
company and its constituent companies have been eliminated, so as to show
the net, figures.
On June 30 1910 the total current liabilities were $4,605,8: 8, contrasting with $4,806,732, < n June 30 1909.
Of the item “bank
and otner loans ($3,841,990)” $1,193,333 are bank loans, and the balance,
$2,648,657,are loans from subsidiary companies. Merchandise, materials and supplies aggregating $3,056,779 have been
taken at actual cost.
This item consists of finished goods (whiskies and
spirits), $2,300,940; goods in process, $91,880; grain, $107,985; manu¬
facturing supplies (cooperage, fuel, charcoal, Ac.), $430,750; general
supplies, consisting of repair materials, general merchandise, horses,
wagons, Ac., $125,215.
,
The current assets of the companies are $18,982,624 gross and $14,376,806
net, and,Exclusive of real estate, plants, trade-marks, good-will, Ac., are
about eaual to the amount of outstanding bonds.
Country’s Average Yearly Production of Distilled Spirits, and the Average Yearly
Tax-Paid W ithdraioals for Consumption (in Gallons, Compare V. 85. p. 1086),
For Five Year Periods Ending—
“
'
June 30 '90. June 30 '95. June 30 '00. June 30 '05. June 30 -10.
Avge. yearly produc.85,417,964 105,707,659 86,473,563 135,408.590 146,183,612
Av.yrly. Withdraw..78,238,756 96,153,334 78,049.770 109.462,606 123.486.181
Our business following the depression caused by the panic of 1907 shows
a steady improvement.
944
THE CHRONICLE
\'t T
f' ft ? \
.Ml ii
'y
..f;
V
•
'
[VOL.
ft T ry>
EARNINGS, EXPENSES, CHARGES, &C.
1909-10.
Gross profits
Deduct—
Int: on notes and loans.
1908-09.
Rentals
Insurance
Additions and maint.
Administration^ Ac;,
*
‘
8
2,454,391
$
4,541,696
333,232
321,294
104,470
79,239
84,595
225,195
344,620
406,968
106,264
81,460
80,809
303,789
341,115
327,195
79,018
85,377
79,568
96*969
225*191
301,358
exp
1,153,115
1,570,865
791,647
(2)687,668
i\
..i,
Total Int. and divs...
Balance
1906-07.
$
2,683,237
__
Total
Net earnings
Interest on bonds
Dividends.
BALANCE SHEET.
1907-08.
$
2,723,980
Taxes116,797
1,479,315
6ur.91.550
94,992
245,912
367,815
1,159,413
1,320,406
1,200,309
1,523,824
1*133,985
3,341,387
782,620
789,617
790,054
(2)679,695 (4)1,306*215 (5)1,634,309
—^
:
—
1,469,312
2,096,269
def.962.284
2,416,929
924,458
BALANCE SHEET JUNE 30, SHOWING ASSETS AND LIABILITIES
OF DISTILLER'S SECURITIES CORPORATION AND OF
ITS CONSTITUENT COMPANIES.
1910.
Assets—
■
•
j
1909.
5
$
1908.
Properties of const. cos_ 40,089,933
Bonds held by American
Spirits Mfg.Co., trustee
39,987,140
996,676
9,255,727
3,056,779
5,673,442
1,200,862
9,574,114
2,822,605
5,521,859
Cash
Accts. A bills receivable.
Mat. & supplies (at cost)
^Securities Of Other COS-----
1907.
5
39,360,399
1,068,568
11,343,506
2,898,733
5,698,472
Assets—
5
39,022,672
11,000
1,304,027
12,185,164
2,618,991
5,667,362
Total assets-.|/59,072,557 1/59,106,580 */60,369,678 1/60,809,217
Liabilities—
Capital stock issued
30,780,874
30,766,997 30,726,538 30,722,959
Stock with Mercantile Tr.
:
t Co. agst outstdg. stock
Of Dlst. Co. of Amer.
and Its constituent cos.
1,697,966
1,711,843
1,752,302
1,755,881
Bonded indebtedness--. 16,000,000
15,933,000 15,938,000 15,947,000
Unclaimed dividends
596
264
'
'
“
8
541
Accts. & bills payable-- y4,605,818
1/4,806,733
2/6,057,834
1/5,510,840
Reserve accounts
165,355
157,345
219,110
233,826
Surplus account-.5,821,948
5,730,398
5,675,886
6,638,171
Jims 30T0
$
July 31 09-
j 93,052
j23,271
Surplus
c31,588
dl ,221,340
l,24l'. 486
Total
30,639,375
35,364,669
Liabilities—
$
a29.172.422 29,040,842 Common stock
7,000,000 7,000,000
Cash:
:: 595*260
259,802 Preferred stock... 10,000,000 10,000,000
Accounts Sc claims
First mtge. bonds.11,800,000 11,800.000
receivable
6615,180
187,290 Accounts payable,
Accr’d earns., net.
679,943
859,910 Due railroads
[16,248
Materials Sc supp.
8,478
6,825 Accrued bond int.
196,667
Insur., Sec., unexp
159,225
Accrued taxes
290,131
283,425
Mlscell. expenses.
8,866
Loss&damageorms
238
597
_
Accrued interest.
4,000 Reserve
Total
a
sur.
June 30 TO. Jitfi/31’09
.
f
Property, Ac
:
■
sur.5^,512
LXXXXI.
091;
30,639,375 30,364,669
Property, Sec., includes
terminal railroad,
in 1910 real estate,
$540,000;
wharves, warehouses, Ac., $28,336,floating equipment, $88,751; electric plant,
machinery and tools, $82,000; and expenditure
on
improvements and betterments
total as above,
since July 31 1909 (less sundry sales of old
equipment), $125,580;
$29,172,422.
6 See text above as to
changes in system of accounting.
Reserve for cost of delivering merchandise in store.
d After deducting $58,959
(being the amount of acorued charges In previous years
not realized, less $100,000 reserved therefor
c
adjustments (net);
total
July 31 1909); also $14,700 for other
deductions, $73,659.—V. 90, p. 1365.
United States Goal & Oil Company, Boston.
{Report for Fiscal Year ending June 30 1910.)
See circular to company's shareholders under
caption
“Island Creek Coal Co.” on a
subsequent page.
President A. F. Holden on Oct. 1 1910 wrote in substance:
Profits.—The net profits
follows: Reserve funds
properties, transportation
$72,527; carried to surplus
cf the year, $323,565, have been
as
for extinguishment
appropriated
and depreciation of coal
river and railroad equipment, Ac..
account, $251,038.'
plants,
Subsidiaries Included.—The Income account and the consolidated
balance
sheet show the status of the
company and its subsidiaries, which are;
Island Creek RR. Co., Island Creek Stores Co., Island
Creek Fuel Co. and
J. C. McManus Oil Co.
Additions.—The additions of $245,991 consist of 55 dwelling houses, ad¬
dition to power house, power house dam, installation of
steam
condenser and electric dynamos, development cf mines 9 and 10 turbine,
(now on
Total liabilities
-1/59,072,557 2/59,106,580 2/60,369,678 2/60,809,217 operating basis)), development of mines 7 and 8 and
equipment, 241 mine
cars, 6 Jeffrey mining machines, 4 electric mine
locomotives,
of
extension
x Principally stocks in
companies owned by the parent or constituent cos.
railroad main line and sidings; 15 coal barges and 4 coal
boats, float, bins,
V Totals differ from those in company’s report.
screens and other river
The “accounts and bills
equipment; steam locomotive, rights-cf-way pur¬
payable” are shown above under liabilities: in the report they are deducted
chased and other investments. {■'
.
;
1
,
from current assets and omitted under liabilities.—V.
90, p 375.
Output.—All the coal shipped has been taken from the Island Creek
seam, as heretofore.
Work has now been begun in opening the 5-foot
scam,
which underlies the whole property, but as yet the 4-foot seam is
New York Dock Go.
untouched.
From the proceeds of each ton of coal sold we
have, as heretofore, set aside
approximately 5 cents, not only as a sinking fund for the bonds but also to
30
care for any depreciation in our
equipment. Sec.
President P. S.
Tons of Coal Produced to Date—Years
wrote:
ending June 30.
General Results.—In order to conform to general
Total.
1909-10.
1908-09.
custom, the by-laws were
1907-08.
1906-07.
1905-06. 6 Mos. 05
amended to make the fiscal year end on June 30 instead of
4,197,266 1,414,822 1,250,406
July 31.
For
768.173
464,923
237,433
61,509
this reason no comparison is submitted.
The gross earnings for the eleven
Tons of Coal Produced During Last Four Months
of Year.
months, however, show an increase over the corresponding eleven months
1910.
^
1909.
1908.
of 1908-09 of $30,361, the expenses decreased
1910.
1909.
1908.
$40,253, the net earnings March
144,635 118,276 68,379 May
Increased $70,614, Insurance decreased $8,254, taxes increased
150,385 103,780
73,177
$36,000, and
April
160,607 124,092 *28,414 June —.‘.-149,844 92,099 78,895
the net surplus after all charges increased
$42,869.
Operations partially suspended owing to floods.
Permanent Improvements.—Improvements
including installation of 48
fire doors, revision and extension of tracks and
Plan.—The net earnings for the past two years and the
terminals,
the
purchase
of
increasing busi¬
locomotive No. 9, 2 new steel car-floats Nos. 8 and
ness lead your directors to believe that some
9, and the new tug
portion, at least, of the earn¬
“Brooklyn,” Ac., Ac., aggregated $134,592. In addition $57,581 was
ings may be fairly distributed among the stockholders. The growth of the
business will require from time to time Investments either for
expended for repairs and maintenance and charged to
operating expenses.
enlarging the
Further improvement work is being pushed
output of coal or for providing additional facilities for Its distribution.
rapidly to completion.
Within the earnings, all ordinary improvements and
Railroad.—The increasing demand for railroad facilities on the
enlargements
can un¬
part of
manufacturers on your property and merchants and
doubtedly be financed. Extraordinary additions ought to be financed out¬
manufacturers In the
side of the earnings.
vicinity, is requiring considerable additional trackage and
equipment, and
the business is growing, with
Under the present mortgage upon the coal
satisfactory results. To establish more per¬
property there are now out¬
manent 17 the railroad terminal
These bonds are convertible into stock,
feature, application is pending for a charter standing $1,495,000 of bonds.
for the railroad.
Should the charter be obtained, it Is
par for par, and are also callable on and after May 15 1911, at the
proposed that your
option of
the company.
company lease to the railroad company our railroad terminal
Your directors believe that It is for the best Interests of the
facilities, the
railroad company to provide for future additions,
company that these bonds be called for payment May 15 1911, until which
thus reserving our treas¬
ury funds for improvements other than those of a
date they may be exchanged for stock, par for
railroad character.
** |£
par.
Adjustment of Accounts.—In the readjustment of
The profits of your companies for the last two
years have exceeded $300,your accounting system,
It was found that,under the custom followed for
000 per annum and these profits are
over 20 years.no storage
constantly increasing. Your directors
was paid on goods until
believe that with the retirement of the bonds at least
they were removed from store. This practice led
$300,000 per annum
to many complications, earnings from
can be properly distributed
among the stockholders.
storage being necessarily largely
estimated.
This system was changed on Jan. 1 1910 so
A plan has been prepared to provide for
no accounts
any future financing and also
that
would be permitted to run longer than six months.
meet the present situation.
We enclose a circular cf the Island Creek Coal
This led to the accrued
Co. (see a following page.—Ed.), offering
earning account shown on your statement of July 31 1909 as
to all the stockholders and bond¬
$859,910
net,
after deducting a reserve for loss of
holders of the U. S. Coal & Oil Co. an exchange
$100,000; being converted into accounts
upon the following basis;
receivable and cash, and leaving
(a) For each 18 shares of the U.S. Coal A Oil Co. stock, 5
your “accrued earnings account” as of
pref. shares and
June 30 1910 only $79,943.
10 common shares of the new company,
There has been charged against surplus account
(b) For each $450 of bonds, 5
$73,659, being the balance ($58,959) of accrued earnings
pref. shares and K) common shares of the new company.
not
realized,
and
$14,700 for accounts not collectible, Ac.
Your directors believe that it is for the best Interests cf the
holders to
Depreciation.—No depreciation has been charged out
make this exchange and have agreed to exchange
their own stock and bonds
the
during
eleven
months.
No securities have been sold since
upon
offered.
the
terms
The
holders
of
a
substantial
1906, when $220,000 bonds
majority of the capital
were sold to reimburse the
stock and bonds have agreed to transfer to the new
treasury for previous expenditures.
Between
company all their stock
July 31 1906 and June 30 1910 there was spent for permanent
and bonds upon the above basis.
improvements
a total of
$600,085, or an average of $150,021 per year, which was
CONSOLIDATED INCOME ACCOUNT.
paid for
out of earnings. * In addition there
was spent during the same
period for
1909-10.
1908-09.
1907-08. '
general repairs and maintenance a total of
Net earns, of main and subsid. cos.
$210,323, this being charged
entirely to operating expenses.
from coal and miscell. oper. (incl.
r
There are held in the treasury bonds and assets
net profits on sale of lumber, Ac.).
approximating $2,000,000
$448,890
$391,542
available for further improvements and additions.
$313,942
Deduct—
Administrative and general expenses.
f
$45,952
$49,753
$39,828
to the revision of the
Int. on 1st M. bonds, Ac., less int. re¬
system
referred
to
ceived on bank deposits
a correct
79,373
79,781
59,891
with earlier
is im¬ Reserve for extinguishment and deeither as to
or
sheet.
prec’n of coal prop’s, transportation
We ap¬
{Report for Eleven Months ending June
Landstreet, Sept. 20 1910,
1910.)
_
Owing
accounting
above,
comparison
periods
practicable,
earnings
balance
pend, however, the figures appearing in the three
previous
pamphlet reports, omitting certain items of adjustments
in
the income account.
plants, river and RR. equip., Ac.
Expenses of underwriting and Issue of
first mortgage bonds
_
Total deductions
INCOME ACCOUNT.
Gross earnings from
11 Mos. end:
June 30 1910.
houses, docks, RR..&C.$1,943,378
Expenses—
Warehouses and docks._
Railway department
Repairs A maint. of ware¬
houses and docks
Legal expenses.
Insurance
Total expenses
Net earnings
Other income
40,683
6,653
57,745
$746,197
$1,197,181
Depreciation charges
Balance, surplus.
*
Year end. July 311908.
1907.
$2,639,281
$1,839,063
$1,967,960
1,319,657
473,325
516,977
75,321
76,371
$482,139
158,977
Total net Income
$1,197,181
Deduct—
Taxes
$311,000
Interest on 1st mtge. 4s._
432,667
Divs. on preferred stock*
(4)400,000
Balance
Renewal fund
1909
74,233
$1,393,890
$1,245,391
11,574
$548,646
$1,290,417
$1,374,612
$1,256,965
$1,290,417
$1,374,612
$310,753
472,000
(4)400,000(4 H)450,000
$295,842
472,000
$332,273
472,000
$593,348
(4)400,000
60,077
50,024
$53,514
$2,616
$7,640
$168,200
100,000
$53,514
$2,615
$7,640
$68,200
38,570
These are 12 mos.' diva., which
are deducted
report from profit and loss, but are here shown for by the company in the
the sake of simplicity.
63,057
r* 37,959
P
114,020
$197,852
$251,038
Balance, surplus
ware¬
72,527
$192,591
$198,051
$251,698
$62,243
BALANCE SHEET JUNE 30.
1909-10.
1908-09.
1909-10.
1908-09.
Assets—
$
$
LiabilitiesJtf $
$
-~|
Property acc’t-_4,232,003 3,986,012 Capital stock
3,005,000 3,000,000
Sk. fd. 1 stM .bds.
43,588
15,897 1st M. bonds
1,495,000 ?,500,000
Cash
609,282
567,695 Acc’ts payable..
43,415
•59,014
Acc’ts receivable
Coal in transit,
Ac. (cost).—
Inventories (cost)
Unexpired
taxes,
214,197 Accr’d pay-rolls-
80,688
167,607
155,360 Accr’d taxes
166,087 Deprec’n funds.
Acer'd interest.-
ins.,
Ac
Total
-V. 91, p.
318,422
Surplus.
4,276
8,319
.--5,455,866 5,113,5671
878.
Total.
f24,095
45,636
11,212
8,388
200,799
646,416
;;
j 11,250
123,830
395,378
.5,455,866 5,113,567
National Gasket Co., New York.
{Statement of June 30 1910, Filed in Massachusetts.)
1910.
1909.
1910.
Assets—
Real estate
1909.
$
$
Liabilities—
$
H[$
1,578,947 1,447,806 Capital stock
4,384,300 "4,384,300
Machinery
507,315
481,796 Accounts payable
16,539 AT 11,999
Merchandise
1,684,969 1,818,172 Balance,
“
profltA loss 249,630 #277,856
Cash A debts reoeiv. 1,322,206 1,365,702 Funded indebtedness
793,500 * 848,500
Good will .trade-marks
Surplus
.1,544,574 T,486,427
and patents
1,895,106 1,895,106
Total
—V. 89, p. 1140,
6,988,543 7,008,582 [
t 1
'
;
Total
.6,988,643 7,008,582
i
1
O0T. 8 1910.
GENERAL INVESTMENT NEWS,
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t> Ji'
RAILROADS, INCLUDING ELECTRIC ROADS.
Arbor1 RR.—Decision Nullifying" State ~Demurrage
Rules.—The Supreme Court of Michigan on Sept. 28 held
that the State Railroad Commission had no right to estab¬
lish reciprocal demurrage rules on inter-State traffic, and
that its power to promulgate rules of that character is limited
to cases where property is transported between points within
Ann
the
State.
The Association of National Railroad Commissioners and the Inter-State
Commerce Commission adopted a set of rules which went Into effect on
The State Railroad Commission, claiming that the afore¬
March 1 1910.
said rules worked a hardship on the shipper, insisted on the enforcement of
the rules framed by it In 1909.
The company, acting for itself and other
companies, carried the case to the State Supreme Court. The Commission,
the United States Supreme Court.—V. 90,
It Is stated, will take the case to
p. 1101.
Birmingham & Atlantic RR.—Sole Receiver.—
Judge Don A. Pardee in the Federal Court at Atlanta on
Sept. 29 appointed Henry M. Atkinson sole receiver. Sam¬
uel F. Parrott, who was joint receiver with Mr. Atkinson,
died a few days ago.—V. 90, p. 1489.
Boston & Albany RR.—New Director.—Frank G. Webster,
of Boston, has been elected a director to succeed Henry B.
Chapin, deceased.—V. 91, p. 396, 335.
$10,000 each quarter beginning Nov. 1 1912 and ending
Feb. 1 1916. Int. (Q.-F.), also principal, payable at office
of Harvey Fisk & Sons, N. Y. Uity.
Par $5,000 (c)'. A
circular
Boston & Maine RR.—Improvements.—The directors have
decided to proceed with the expenditure of $10,000,000 for
equipment, track and bridge improvement, &c.—V. 91,
864, 716.
Control by New York New Haven & Hartford RR.—See re¬
port of that company on a preceding page.—V.90, p. 864.
Boston Railroad Holding Co.—See New York New Haven
new
p.
Reports” above.
Prcf. Stock.—The company has applied to the Massachusetts Railroad
Commissioners for permission to Issue $20,012,000 4% pref. stock In ex¬
change for the outstanding 4% bonds to the same amount held by the
road, In accordance with the law passed by the last Legislature.
,
1612).—V. 91, p. 153.
•
,
New Haven
(V. 90,
p.
British Columbia Electric
Ry.f Ltd.—Option of Exchange.
—The company offers to the holders of the 4^% Vancouver
debentures the right to exchange
each £100 of said
debentures for £102)^ of the company’s 4^% perpetual
consolidated debenture stock and a cash payment of
£1 in respect of interest.
Fractions of £1 will be paid in
cash.—V. 90, p. 625.
Canadian Pacific Ry.—Annual Meeting—Extraneous As¬
sess.—At the annual meeting on Oct. 5 the shareholders
ratified the several resolutions presented (see report, V. 91,
p. 727 and 728, sections 7 to 12).
President Sir Thomas
Shaughnessy stated that the directors propose to change the
dividend period of the common stock from semi-annually to
quarterly, the first quarterly payment to be in Jan. 1911.
He also said:
At a meeting of the directors In August last It was decided to increase
the dividend on the common stock to 7% per annum, exclusive of the 1%
paid from land revenue, making a total distribution of 8% (V. 91, p. 396).
Your directors are aware of the feeling amongst the shareholders that*
taking Into account the income and financial position of the company,
this Is scarcely sufficient, and if last year’s returns be taken as a basis,
that feeling is not unreasonable; but we must not lose sight of the fact that
conditions may not always be so favorable, that we may have lean years,
and that In such a contingency a large cash reserve will be a source of
convenience and strength.
But then, apart from your surplus earnings, you have extraneous assets
in deferred payments, or land mortgages, cash proceeds of land sales, and
other Items of a like character In process of realization, that may be roughly
estimated at $50,000,000, without taking into account your unsold lands,
and In ordinary course this amount should be substantially augmented
within the next few years.
In the opinion of your directors the best inter¬
ests of the company and its shareholders will be subserved by keeping 1 itact
a considerable portion of these assets Instead of resorting to “melon-cut¬
ting.”
At the same time there is every reason why the shareholders of the
present day should expect such advantage in the way of income from these
assets as may be possible, without unduly encroaching on the principal,
and It Is the intention of your directors to determine during the coming
year how this can best be brought about.—V. 91, p. 711, 716,727.
Chesapeake & Ohio Ry.—Bonds.—We are informed that
convertible bonds recently sold by the
underwriting syndicate was about $5,000,000, with an option
on the remaining bonds (about $6,000,000) held by the
syndicate.—V. 91, p. 870.
Columbus Delaware & Marion Electric RR.—Interest Pay¬
ment.—At Columbus, Ohio, on Oct. 1 Judge Kinkead in the
the amount of 4J^%
Common Pleas Court authorized Receiver Eli West to pay
to the Cleveland Trust
Co., the mtge. trustee, $25,000 as
$1,000,000 bonds for the half-year ended
May 1 1910 (V. 91, p. 336).—V. 80, p. 117.
Chicago Consolidated Traction Co.—Sale.—The proper¬
ties of the eight underlying companies have been ordered
to be sold under direction of Master in Chancery Henry
W. Bishop.
Total appraised valuation, about $4,000,000;
1st M. bonds out, $6,687,642.
In addition, the Consoli¬
dated Company has outstanding $6,000,000 4J^s.—V. 91,
p. 517, 462.
Dallas (Tex.) Electric Corporation.—Dividends on Second
Preferred Stock.—A dividend of 1% has been declared on the
$2,000,000 present 2d preferred 5% non-cumulative stock,
payable Oct. 10 to holders of record Oct. 5, along with regu¬
lar semi-annual dividend No. 3 of 3% on the $1,300,000 6%
cumulative 1st preferred stock.
The last distribution on
the 2d pref., 2%, was made in Oct. 1909.
Compare V. 89,
p. 778.
Denver Northwestern & Pacific Ry.—Guaranteed Equip¬
ment Notes Offered.—O’Connor & Kahler, New York and Chi¬
cago, are offering at par and int. $140,000 5% locomotive
equipment trust notes, guaranteed by endorsement by the
American Locomotive GoV, dated Aug. 1 1910, maturing
interest
on
the
says:1
These equipment notes are part of an issue of $348,609 and are secured
lien on new equipment consisting of 20 locomotives built by the Ameri¬
(7 Mallet. 12 consolidated freight and 1 ten-wheel
passenger locomotives), which cost originally $4^35,761.
The railway com¬
pany made a cash payment of $87,152 (or 20%), and the balance due Is
represented by 58 equipment 5% notes. The first installment of $16,lH
is due May 1 1911 and the remainder in 19 quarter-annual Installments of
Title to the
$17,500 each, due Aug. 1 1911 to Feb. 1 1916, both inclusive.
equipment remains with the vendor until all the notes are fully paid.—
V. 90, p. 697.
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can
Locomotive Co.
Detroit United
Ry.—Option to Subscribe.—Shareholders
desiring to take part in the underwriting at 82 Y for one year
from Feb. 1 1911 of the $1,500,000 consolidated 1st M. 4^s,
dated 1902, are requested to send their subscriptions to
A. J. Ferguson, Vice-President, P. O. Box 547, Montreal.
Atlanta
& Hartf. RR. under “Annual
945
m cwqnic^
Total consol: 1st 4 Hs auth., $25,000,000; issued (including $9,020,000
reserved to retire underlying liens), $23,333,000.
The subscribers will receive 2 % commission on the face value of any of the
$1,500,000 bonds which the company may otherwise dispose of; subscrip¬
tions for the remainder must be paid In full on Jan. 1 1912 to the company
or to Its order at the Bank of Montreal, N. Y.
The company can cancel
the agreement on or before Feb. 1 1911 in case all of the $1,500,000 bonds
are not underwritten by Jan. 1 1911.
See also circular, V. 91, p. 870.
Erie RR.—Bonds.—Application was made on Oct. 3 to the
Public Service Commission at Albany for authority to issue
$1,000,000 general lien bonds to reimburse the treasury for
amounts expended for coal cars.
This will make $36,885,000
general lien bonds outstanding.—V. 91, p. 393.
Indianapolis & Cincinnati Traction Co.—Foreclosure Sale.
—Judge Carter in the Superior Court at Indianapolis on
Sept. 30 ordered the foreclosure sale to take place on 30
days’ notice. Upset price $1,045,000 and the assumption
of certain operating deficits and unfilled orders estimated
to amount to less than $50,000.
The upset price will about cover the Indebtedness of the receiver¬
ship.
Receiver’s certificates outstanding, without Interest, amount to
$927,981.—V. 91, Pi W8..
. ;
International & Great Northern
RR.—Adjournment of Sale
Till May 16.—TheT depositors of second mortgage bonds
under the agreement dated March 2 1908 have received from
their committee, W. Emlen Roosevelt, Chairman, a circular
dated at New York, Oct. 3, announcing a postponement of
the foreclosure sale to May 16 1911. Circular says in brief:
A decre of foreclosure and sale under the 2d mtge. having been entered
on May 10 1910, the Texas Legislature enacted, and the Governor approved,
a statute purporting to require the purchaser at a judicial sale of a railroad,
as a condition of acquiring the corporate franchise, to “agree to take and
hold said property and franchises, charged with and subject to the pay¬
ment of, all subsisting liabilities and claims for death and for personal in¬
juries sustained In the operation of the railroad by the company, and by
any receiver thereof, and for loss of and damage to property sustained In
the operation of the railroad by the company and by any receiver thereof,
and for the current expenses of such operation. Including labor, supplies
and repairs.”
The effect of such legislation In the pending foreclosure would be to sub¬
ordinate the 2d mtge. debt to claims so loosely specified, In the event of
purchase on your behalf; or in the event of a purchase by third parties, to
diminish the amount of the bid applicable to your debt by such sum as
would be required to care for these claims.
The Act is generally known In
Texas as the ’‘International & Great Northern bill;” and It Is commonly
said that the Act will be repealed as soon as this foreclosure sale shall have
taken place.
In addition to some $700,000 or $800,000 of claims which
might, under the ordinary procedure, be entitled to a preference out of
proceeds of sale, $3,000,000 Is estimated as the minimum sum attempted
to be preferred to your claims by this law.
While recognizing the doubt as to the validity of this legislation, your
Committee has not felt It possible to cause a sale to be had under present
conditions.
If your committee should purchase (and no other possible
bidder is known to them), it would be in Ignorance of the amount of claims
which the purchaser would be called upon to assume—a veritable leap In
the dark.
A refusal of the purchaser to agree to assume the unsecured
debt would, as your committee Is advised, result In immediate proceedings
on the part of the State, accompanied without doubt by application for
the appointment of a receiver.
Moreover, It would be impossible for the
purchaser to issue any securities without the permission of the Texas Rail¬
road Commission, which would hardly be granted in the face of a refusal
to assume the debts, as prescribed by the new statute.
Again, new bonds,
whether Issued for the cash requirements of foreclosure and reorganization,
necessary improvements and to pay off claims really entitled to a prefer¬
ence, or issued to the depositors to represent your Interests In the property,
would alike be subject to the provisions of the law.
Under all these conditions your committee, with the greatest reluctance,
has obtained an adjournment of the sale to May 16 1911 in the hope that
at the next session of the Texas Legislature beginning in January 1911 a
more enlightened public sentiment may cause such a modification of the
law as will make it possible to reorganize the property.—V. 91, p. 871, 655.
International Traction Co., Buffalo, &c.—The committee,
Robert L.
Fryer, Chairman, representing holders of 50-year
4% collateral trust gold bonds, announces that more than a
majority in amount of the above-mentioned bonds has been
deposited under the agreement of June 21 1910, and that
arrangements have been made for an advance to the holders
of certificates of deposit issued for said bonds of the interest
due July 1 1910 on the bonds represented thereby.
Such Interest will be advanced to the holders of certificates of deposit
upon presentation thereof at the offices of J. P. Morgan & Co., 23 Wall St.
the Manufacturers <& Traders Nat. Bank, Buffalo, N. Y., or the United
States Trust Co., Louisville, Ky (V. 90, p. 1675).—V. 91, p. 38.
Lancaster Oxford & Southern
RR.—Interest Unpaid.—
The bondholders of this 28-mile narrow-gauge line were
notified on Oct. 1 that the semi-annual interest then due on
the $200,000 5% bonds could not be paid, and that a propo¬
sition had been made to sell to the Conestoga Traction Co.,
with a view of having the road made a standard-gauge
electric road.—V. 81, p. 1665.
Macon & Birmingham Ry.—New
Receiver.—John B. Mun¬
Vice-President- and General Manager of the Georgia
Southern & Florida Ry., was on Oct. 1 appointed receiver
for the Macon & Birmingham, succeeding the late Samuel F.
Parrott.—V. 86, p. 337.
son,
Macon (Ga.) Railway & Light Co.—Dividends—Increase
Proposed.—-President W. J. Massee on Sept. 30 1910 wrote:
We have paid our usual 6% on pref. stock [$ 300,000] for 19l0, 3% having
been paid April 1 and 3% paid to-day.;
We have ordered a dividend of
6% paid on the common stock f$900,000};3% of this was paid July. T, 1H%
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946
THE CHRONICLE
paid to-day and 1H% will be paid Jan. 1.
8% basis for its common stock after Jan. 1,
Manistique Ry.—Trustee’s
at trustee’s sale to John
Manager of the Duluth
said to
The company will be put on an
payable 2% quar.—V. 89, p.529.
Sale.—The road has been sold
The road extends from
Wheeling June, to Benwood, W. Va., 28 miles,
and It Is operated
by the Pitts. Cln. Chic. & St. Louis.
Rental, net earn¬
ings.
& Northern Minnesota RR., who is
represent the bondholders.
Minneapolis ft St. Louis RR.—Directors.—F. M. Tomp¬
kins and A. C. Doan of N. Y. have been elected directors to
succeed F. E. Palmer and the late L. C.
Wier.—V.91,p.790.
National Railways of Mexico.—See “Annual Reports.”
First
LXXXXI
profits and a special dividend of 3% out of the accumulated
surplus to Sept. 20 1910, payable to stockholders of record
of Sept. 24,
being the same amounts as for many years past.
Millen, Vice-President and General
It Is unofficially reported that the
purchasers intend to abandon the
road, most of the timber having been cut down.
The Duluth & Northern
Minnesota Is also controlled by the Alger-Smith interests.—V. 91,
p. 519.
[VOL.
Capital stock, auth. $600,000; Issued, $501,250 (in $50
shares) of
which $255,300 is owned
by the Pennsylvania Company.
Bonds at last
accounts, $69,000 1st M. 6s, due Jan. 1 1934.
For the calendar year gross
earnings were $436,733; net, $136,586; other
Income, $17,674; interest,
sinking fund and hire of equipment, $40,592; dividends
(Nos. 70 and 71
paid April 1 and Nos. 72 and 73 Oct. 1), $60,150; additions, &c., $10,207;
bal., sur., $43,311. Total surplus Dec. 31 1909,
$400,159.
Providence Warren ft Bristol RR.—New Stock.—The
stockholders of the company of record
July 14 were offered
the right to subscribe for
$437,300 new stock at $150 per
$100 share,in proportion of one share of new
stock to each
share of outstanding
stock, preferred and common.
The road is leased
Preferred on 4% Basis.—The stockholders at the
meeting authorized the directors to declare an extra
dividend of 1% on the $28,830,200 non-cumulative
4% first
to the Old Colony at a rental now
netting 6% on the
pref. stock, payable at their option. This is done in order stock, the lease being assumed by
the New Haven road.
The lessee owns
over 75%
of the stock, consisting
to bring the dividend
heretofore of $150,000 preferred and
payable out of the earnings of the fiscal $287,300 common.—V. 88,
p. 1129.
year ending June 30 last up to 4%, the previous distributions
Public Service Corporation of New
having been 2% in Aug. and 1% in Feb. last. From Aug.
Jersey.—New Notes
fered.—Potter, Choate & Prentice offered this week, atOf¬a
1908 to Aug. 1909 payments were at the rate of
1% semi¬ price to net the investor
5^%, the unsold portion (less than
annually.—V. 91, p. 717, 589.
$500,000) of a block of $1,500,000 of the new collat. 5% notes.
New England Investment &
Security Co.—Guaranteed
These notes are dated Oct. 1 1910 and
due Oct. 1
annual
Notes.—See New York New Haven & Hartford RR. under
“Annual Reports” above.—V.
90, p. 503.
New Jersey & Hudson River RR. &
Ferry Co.—Bonds.—
The Newr Jersey authorities have
approved the issuance of
$100,000 additional 4% mtge. bonds for extensions, addi¬
tions, &c.—V. 91, p. 95.
Newport ft Richford RR.—Sale of Bonds.—To refund the
$350,000 1st M. 5s, due Jan. 1 1911, there have been sold to
Lee, Higginson & Co. a new issue of $350,000 1st 5% 30-year
gold bonds dated Jan. 1 1911, guaranteed, presumably
p. & i., by the Connecticut & Passumpsic Rivers RR. Co.
(Boston & Maine system), which owns most of the $350,000
capital stock. The bonds are not subject to redemption
before maturity.
The Boston Safe Deposit & Trust Co.
is
mortgage trustee.
The road extends from Newport, Vt., to the
Canadian line, 21 miles, and
It has been operated under lease since
June 8 1881 by the Montreal & At¬
lantic Ry., which In turn Is operated for Its
owners
by the Canadian Pac.Ry.
New York New Haven ft Hartford
RR.—Earnings—Guar¬
anties.—See “Annual Reports.”
Annual Meeting.—The shareholders will vote at the annual
meeting
on
Oct 26
.
on—
1. Increasing the board of directors to 27
members.
2. Approving the purchase of the
franchise and property of the Berk¬
shire RR. Co., the New Haven &
Northampton Co. and the Rhode Island
Sc Massachusetts RR.
See aforesaid report.—V. 91, p. 871, 337.
New York ft Stamford Ry.—First and
Refunding Bonds
Guaranteed.—See “new guaranties” in report of N. Y. N. H.
& Hartford RR. on a
preceding page.—V. 88, p. 1197.
Pacific ft Eastern
Ry.—Offer
to Purchase Bonds.—Offers,
it is stated, have
recently been made to bondholders to pur¬
chase bonds at 80 by the Hill
interests, who are now in
control.' There are $300,000 1st M. 6s
outstanding, which are
subject to call after June 1917 at 105.—V. 90, p. 1614.
Pennsylvania Company.—Called Bonds.—Notice is given
that $1,334,000 certificates of the
3^% gold loan of 1901,
maturing Nov. 1 1916, have been called for redemption at
the Girard
Trus^Co., Phila., on Nov. 1.—V. 90, p. 1421.
Pennsylvania RR.—Service under Hudson River Nov. 27.—
The formal opening of the tunnel extension
from Harrison,
N. J., to Pennsylvania Station in New York
is set for Nov. 27.
—V.
91, p. 655, 397.
1913, butredeemable
at option of company at
par and Int. on any Interest date upon 30 days’
notice.
Int. payable A. Sc O.
Fidtllty Trust Co., Phila., trustee. Total
authorized and issued, $4,000,000.
Secured by a deposit with the trustee
of $5,000,000 Public Service
Corporation of N. J. general mortgage 5%
sinking fund gold bonds due Oct. 1 1959, part of an authorized
Issue of $50,000,000 bonds, of which $18,500,000 are
outstanding (and are secured sub¬
stantially as stated in V. 89, p. 1349. See also V. 90, p. 699).
Earnings for Seven Months
1910.
‘
$
July 31 1910 and 1909.
$
Gross,oper.cos. 15,084,087 13,936,763 Net, after
Public
Service
mlsc. lnc_-_
898,510
781,280
1910.
$
taxes 7,752,605
1909.
$
7,125,563
Fixed charges,
of oper. cos.
Int. P.S.Corp.
6,057,969
957,106
5,823,929
992,280
Total inc.--15,982,598 14.71&.043
Surplus
737,529
309.353
The surplus ($737,529) for the 7
months end. July 31 1910 is equal to
5% per annum on the $25,000,000
outstanding capital stock.
Compare
V. 91, p. 871; V. 90, p. 1293.
Second Avenue RR., New York
City.—Receiver's Certifi¬
Authorized.—Justice Amend in the Supreme Court in
this city on Oct. 1 authorized Receiver Linch to
issue $2,500,000 one-year receiver’s certificates. The
Guaranty
Trust Co. on Tuesday issued the
cates
following statement:
The $2,500,000 certificates are to bear
Interest at not exceeding 6%, but
the rate has not been
definitely fixed. The proceeds will not be used in
payment of the interest due Nov. 1 on $5,682,000
5% consol, mtge. bonds,
but wUl be used to retire $1,280,000 general
consol. 5s, maturing Nov. 1
1910, and $500,000 receiver’s certificates which came due
Oct. 1 1910,
approximately $545,000 for franchise taxes, and the balance to
improve
the road and equipment.
In his application to the
Court, the receiver did not predict an increase
of $250,000 per year in earnings as a result of
the new terminal at Worth St.,
but predicted that the net
earnings of the system would be considerably
in excess of $250,000 annually after the new
terminal was in operation and
the property improved by
repairs.
[It was recently arranged to settle the
past due special franchise taxes for
$544,854—Ed.)—V. 91,
p.
519, 398.
Spokane ft Inland Empire (Electric) RR.—Bonds—Earn¬
ings.—The Milwaukee (Wis.) Trust Co. in offering the “first
and refunding” 5s at a
price to yield over 5%, reports:
Earnings for the year ended Dec. 31 1909.
Gross earnings
$1,608,489| Ann’l int. on bonds outst’g.$247,450
Net (after taxes)
$633,9551Surplus earnings
$386,505
Cash cost of properties against which
$4,948,000 bonds have been Issued
Is reported by Audit Co. of Illinois to be In
excess of $10,350,000.—V.
90,
—
p.
978.
Southern
Railway.—New
D. Lankford has also been Vice-Presidents.—Secretary
elected a Vice-President
well.
E. H. Coapman is now Vice-President and
R.
as
General
Manager in charge of operation and maintenance.—Y. 91,
p.
Pere Marquette
RR.—Offering
Trust Notes.—O’Connor &
ended
1909.
718.
Tennessee Central RR.—New
of Guaranteed Equipment
Officers.—H. B. ChamberKahler, New York and Chicago, lain has been elected a director and Eben Richards has been
are
offering, at prices to net the investor either 4or 4%% made Chairman of the Board, both to succeed Col. S. M.
for the earlier maturities and
5% for the later, $165,000 5% Felton. J. S. McHenry has been made Treasurer.—V.
91,
locomotive equipment trust
notes, guaranteed by endorse¬ p. 718.
ment by the American Locomotive
Co., dated July 1 1910,
Wabash-Pittsburgh Terminal Ry.—Report of Chaplin Com¬
maturing $15,000 quarterly beginning Jan. 1 1911 and
July 1 1913. Int. Q.-J. P. & i. payable at office of ending mittee.—The first mortgage bondholders’ committee organ¬
Harvey ized in July 1910, consisting of James C. Chaplin,
Fisk & Sons, N. Y. City.
Chairman;
Par $5,000 (c). A circular says:
Meigs H. Whaples, William H. Nicholson, Clarence L. Har¬
These notes are part of an Issue of
$177,956 and are secured by a lien on
new equipment
per and Richard Sutro, reports as of Sept. 22:
consisting of 15 new locomotives built by the American
Locomotive Co. (5 passenger, 5 consolidated
freight and 5
ing locomotives), which cost $237,275, towards which the six-wheel switch¬
railroad company
made a cash payment of $59,318, or
25% of the cost.
The first installment
of $12,956 will be due on Oct. 1 1910, and the
remaining
11
Installments of
$15,000 each mature as above.
Title to the equipment remains with the
vendor until the notes are fully paid.
Report.—For
year
Fiscal
Gross
Year.
Earnings.
1909-10
$16,542,271
1908-09
14,629,827
—V. 90, p. 772.
ending June 30:
Net
{after
Other
Income.
Taxes).
$3,087,788
3,471,354
deb.$16,820
cr.238,209
Interest
& Rentals.
$3,601,254
3,668,912
Balance,
Surplus.
$469,713
40,651
Philadelphia Rapid Transit Co.—Mr. Wolf Resigns.—State
Senator Clarence Wolf
has
director, owing to the
resigned
as
Vice-President and
pressure of other business.
He has
been succeeded as director
by President Charles O. Kruger.
Petition to Mr. Stoteshury.—A
petition, asking that E. T.
Stotesbury of Drexel & Co., become managing director is
being circulated among stockholders and others. The
petition
says
in part:
This move is made with the
knowledge and assent of the present officers
assurance that sufficient vacancies on the
board
available to enable the interest which
may come in with you to
control the policy and
business, giving the property not only the
of your large
advantage
experience In business and as a
financier, but also the full
measure of public
confidence which will result from such
In the direction and
participation
control.—V. 91 p. 786, 337.
aiMi
directors and with the
will be
Pittsburgh Wheeling ft Kentucky RR.—Extra Dividend.—
The directors
recently declared
a
dividend of 3% out of
(1) At the instance of our counsel, who personally presented the
tion before the U. S. Circuit Court in Ohio, an order has been
made
applica¬
ing the order of Aug. 22 1908, whereby the receiver of the Wheeling modify¬
& Lake
Erie RR. Co. was directed to discontinue
exchanging traffic under the
terms of the traffic and trackage agreements.
(2) Answers have also been
prepared by our counsel and filed contesting the foreclosure of the
mortgage
securing the $8,000,000 notes of the Wheeling & Lake Erie held
by the
Wabash RR., and of the general mortgage
securing the bonds pledged as
collateral for the notes.
(3) A cross-bill has also been prepared and filed
seeking to compel the Wheeling & Lake Erie and the Wabash roads to ac¬
count for the amounts due under the traffic and
trackage agreements and
to compel the specific performance of these agreements for
the balance of the
50-year period.
An action has also now been instituted by the Mercantile
Trust Co., as trustee of your mortgage, against the Wabash RR.
Co.,to se¬
cure the return of the stock of the
Pittsburgh Terminal RR. & Coal Co.,
which we claim was purchased with the proceeds of
your bonds, and, in
equity, should be placed as part collateral under your mortgage.
Papers are being prepared to compel an accounting from the
PlttsburghToledo Syndicate, which organized your company and transferred
it to the
Wabash RR.
Papers are also being prepared by our counsel to enforce
the stock liability of the Wabash RR., on the
ground that the stock of
your company issued to the Wabash RR. was never paid for.
The committee has recently made a
thorough personal examination of
the properties of the Wabash Pittsburgh Terminal and its
affiliated and
controlled companies, including the West Side Belt
Line, Pittsburgh Termi¬
nal RR. & Coal Co. and Wheeling & Lake Erie RR.
We are of the opinion
that these properties, properly conserved and
operated as a unit, have a
great value and future.
Securities (either bonds or certificates of Central Trust
Co.) may be de¬
posited until further notice with Columbia Trust Co., N. Y.
City; Colonial
Trust Co., Pittsburgh; Conn. Tr. & Safe Dep. Co., Hartford, and
Land Title
& Trust Co. and Union Trust Co., Phila.
[William C. Taylor is Sec., 37
Wall St., N. Y. City, and Samuel
Untermyer, counsel for the committee.)
Receivers' Certificates
Authorized.—Judge Young
United States Circuit Court at
Pittsburgh on
in the
Sept. 30
au-
Oct. 8 1910. j
thorized Henry
THE CHRONICLE
W. McMaster and Francis
issue receivers' certificates
as
K.
follows:
Washington Alexandria & Mt. Vernon Ry.—Merger.—The
shareholders will vote Oct. 12 on a joint agreement looking
to the consolidation of the Washington
Arlington & Falls
Church Ry., the Washington Alexandria &,Mt. Vernon Ry.
Co. and the Washington-virginia Ry. Co.—V. 89, p. 530.
Washington Arlington & Falls Church Ry.—Merger.—See
Washington Alexandria & Mt. Vernon Ry.—V. 87, p. 1239.
Washington Baltimore & Annapolis Electric Ry.—General
Reorganization Committee.—The following committee, upon
the request of holders of a large proportion of the 1st and
2nd mort.bonds and stock, urges the holders to
deposit their
securities with the Safe Deposit & Trust Co. of Baltimore or
the Cleveland Trust Co. of Cleveland:
John L. Severance (Chairman), George A. Craig and John
Sherwln, all
of Cleveland; John J. Nelllgan, 3d VIce-Pres. of Safe
Deposit & Trust Co.
of Baltimore; Hinsdill Parsons, who is associated with the General
Electric
Co. of New York, and George T. Bishop, one of the receivers.
Depositors
may withdraw without expense If dissatisfied with the plan when
presented.
Sale
of Washington Berwyn & Laurel RR.—See that com¬
pany below.—V. 91, p. 155.
Washington Berwyn & Laurel (Electric) RR.—Sale.—The
receivers of the Washington Baltimore &
Annapolis Electric
RR., who recently bought this property at foreclosure, have
sold it at a price reported to be $70,750 cash toC. F.
Norment,
President of the City & Suburban Ry. Co.
(Washington Ry.
& Electric Co.).
Length of line, Berwyn to Laurel, Md., 9 miles.
All of the stock and
by the Washington Balti¬
all the $220,000 outstanding bonds were owned
more
& Annapolis Ry. Co.
Washington (D. C.) Ry. & Electric Co.—Purchase.—See
Washington Berwyn & Laurel RR. above.—V. 90, p. 973.
West Side Belt RR., Pittsburgh.—Receivers'
Certificates.—
See Wabash-Pittsburgh Terminal Ry. above.—V.
87, p. 168’
Youngstown & Ohio River RR.—Initial Preferred Divi¬
dend.—A first dividend of % of 1% on the
$1,000,000 pref.
stock
(cumulative after July 1 1913), issued under the re¬
capitalization of the company in 1910, has been declared,
payable Oct. 5 to holders of record Sept. 30.—V. 91, p. 40.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Chesapeake Canal Co., Norfolk, Va.—Fore¬
closure.—Federal Judge Edmund Waddill Jr. at Norfolk,
Va., on Oct. 4 confirmed the report of Special Master Richard
Mcllwaine, and ordered a foreclosure sale of the property
under the first mortgage (Union Trust Co.,
N. Y., trustee) on
which there is due for principal and interest
$524,420.—
V. 90, p.374.
Albemarle &
American Locomotive Co.—Guaranteed
Equipment Trusts.
—See Pere Marquette RR. and Denver Northwestern & Pa¬
cific Ry. under “Railroads" above.—V.
91,
p.
586.
American Rolling Mill Co., Middletown, O.—New Stock
for
Extensions.—The “Cincinnati Commercial Tribune” states
that the company has decided to offer all its
shareholders,
both common and pref., the right to subscribe &t $200
per
share for $500,000 new stock to the extent of one share for
every nine shares held by them respectively.
Compare
V. 90, p. 701.
*
*
/
■
American
Steel Foundries.—Favorable
Decision.—See
Pressed Steel Car Co. below.—V. 90, p. 1492.
Central Oil Co., Los Angeles.—New Stock.—The share¬
holders recently authorized an increase in the
capital stock
from $1,000,000 (par of shares $1) to
$3,000,000. A San
Francisco paper says:
It Is Intended to exchange the new stock for the old at the ratio of
two
for one. If It Is found that this action would be legal, and to
place the other
1,000,000 shares In the treasury, to be devoted later to development pur¬
poses If desired.
The Central Is now paying dividends at the rate of 15%
a year, and It Is
anticipated that after the new Issue of stock Is made the
rate will be 8%.—V. 83, p. 1172.
-
Chicago Pneumatic Tool Co.—Earnings.—The “Chicago
Record-Herald" of Oct. 4 said:
Oolorado Fuel & Iron Co., Denver,
ending June 30:
Fiscal
Gross
Year—
Earnings.
1909-10
$23,639,813
1908-09
20,344,630
—V. 90, p. 1104.
•
Net
Other
Earnings.
Income.
$3,742,615
2,901,011
$626,919
445,761
Col.—Report.—For
Fixed
Balance,
Charges, Ac.
$2,862,716
2,488,396
$1,506,818
Surplus.
858,376
Consolidated Gas, Electric Light & Power Co., Baltimore.
—New Directors Representing Pennsylvania Water & Power
Co.—J. E. Aldred, President of Pennsylvania Water &
Power Co. (V. 90, p.377,1558; V. 91, p.467) has been elected
Chairman of the board of directors of the Consolidated
Gas,
El. Lt. & Power Co. to succeed S. D. Warfield, who resigned.
The Pennsylvania Water & Power Co. and
together hold “virtual control.”
board
friendly interests
The other changes in the
are:
New Directors:
Nicholas F. Brady, succeeding his father (Anthony F.
Brady); H.,S. Holt, E. R. Wood, C. E. F. Clark and Norman James, all,
except Mr. James, being Identified with Pennsylvania Water & Power Co.
F. H. Hambleton, F. W.* Wood, Charles Adler,
C. M. Cohn, Geo. Cator,
F. A. Furst and T. J. Shryock of Baltimore, and S. R.
Bertron of N. Y. -
Earnings.—For fiscal
Fiscal
Year—
years
ending June 30:
Gross
Earns.
(aft.tax.)
5
Charges.
$
$
Net
Fixed
Pref.
Common
Bal.,
Dividends.
Surp.
$
$
$
1909-10
4,699,097 2,433,564 1,374,362 423,600 (2%)126,003 509,599
1908-09
Not
2,202,744 1,374,547 423,600
404,597
1907-08
reported 1,870,085 1,234,586 423,600
211,899
Out of surplus, $509,599, for year
1909-10, $257,596 was reserved’ for
renewals, &c., leaving net surplus for year $252,003.
First div., 2%, on
$6,300,100 com. stock, was paid April 27 1910 (V. 90, p. 1046;
Divs.
______
___
_
Contract.—The company informs us that a contract for
15,000 k. W. has been closed with the Pennsylvania Water &
Power Co.—V. 91, p. 719, 41.
Cramp & Sons Ship & Engine Building Co.—Options on
Stock.—Former President Edwin S. Cramp has sent a letter
to holders of trust certificates
saying in part:
I
have given to Charles K. Beekman, New
York, an option, to expire
Nov. 1, on stock of the company owned by me. Iam
writing to a few of my
friends, enclosing a blank form of option which gives us an opportunity
of disposing of our stock at $50 per share. This seems a
very favorable
basis, in view of the fact that the stock has been selling on the market at a
very low price, and has not received any dividends for a number of years.
—V. 91, p. 874, 92.
Crucible Steel Co. of America,
the year
ending Aug. 31:
Pittsburgh.—Report.—For
Fiscal
Year.
1909-10
Gross
Net
Other
Preferred
Balance,
Earnings.
Earnings. Inc.(Net) Divs. (Cash)
Surplus.
$18,782,729 $3,523,402 $12,480 (7 ^)$1,802,192 $1,733,690
1908-09
12,121,651
1,995,408
19,518
(2J*)549,821
1,465,105
The total undivided surplus on Aug. 31 1910, after
deducting the 10%
scrip dividend ($2,443,650) paid last June on account of accumulated divi¬
dends, was $2,448,040.—V. 91, p. 874.
Development Co. of America, New York.—Notes Offered.—
The executive committee, consisting of Pres. F. M.
Murphy
of Prescott, Ariz.; Vice-Pres. V. L. Mason of N.
Y.; H. M*
Robinson of Pasadena, and B. P. Cheney of Boston, have is¬
sued a circular dated Sept. 23 1910,
offering the company's
$1,500,000 6% one-year collateral notes at par to the secur¬
ity holders of the company and its subsidiaries. The circu¬
lar says in brief:
At a meeting of the board held In N. Y. City Sept. 14, the officers were
authorized to Issue $1,500,000 6% one-year collateral trust notes, to be se¬
cured by deposit with a New York trust company of the
following securities
(total par value $7,742,183), and of further collateral as set free or received
on Issuance of the notes:
Dev el, Co. of Am. bonds..
$3,000 Tombstone Consol-1 Bonds. $108,02(1
Poland Min. Co. bonds
56,775
Idated MlnesCo. [Notes.. 461,852
Certfs. of Indebtedness. .1,210,901
Ltd
J Stock. .3,005,515
Stock
106,380 Saddle Mtn. Mining bonds.
S.OOfi
Imperial Copper Co. stock.
6,640 Lookout Cop. Co. stock
459,700
London-Arlz. Cop. Co. stk.2,320,310
The proceeds of the notes will be used In meeting the
company’s require¬
ments, including Interest on bonds due July 1 1910; also In making further
advances to the subsidiary companies necessary to protect their
property
and make them remunerative.
It will require $150,000 to $200,000 toprove up Tombstone; or, If current obligations are to be paid, $300,000.
Tombstone bondholders will be asked to subscribe for about $300,000 of the
notes.
The pumps on the Tombstone’s 1,000 foot level have been recov¬
ered: flooding again would mean In all probability a serious If not almost
total loss to the bond, note and stockholders, who have Invested between
fdur and five millions of dollars.
The Imperial Copper Co.’s bond and stock holders will be asked to sub¬
scribe for $200,000 of the collateral trust notes (equivalent to 10% of the
company’s outstanding bonds), In order to protect and to develop their
property.
After a few months smelting operations should then be resumed,
under conditions insuring satisfactory net revenue.
If the collateral trust notes are taken to a reasonable
extent, your com¬
mittee anticipates no trouble In making satisfactory
arrangements with the
holders of a $1,500,000 note which would also be
outstanding against the
Development Company, well secured and held by Its friends.
There has been between $8,000,000 and $9,000,000 cash Invested In
acquiring title, development and equipment of the Imperial and Tomb¬
stone properties, the potential value of which,
however, represents many
times that amount.
The Port Lobos RR., on which the Development Co. has
already ex¬
pended about $75,000, will, If built to a connection with the railroad owned
by the Imperial Copper Co., place the Imperial Copper Co. In a decidedly
favorable position, reducing the cost of producing copper to the minimum,,
and placing it In a favorable position
to treat at Its Sasco smelter a very
large amount of custom ore from the Wept coast of Mexico and South Amer¬
ica now being shipped to Vancouver, B. C., for treatment.
Just as matters stand, your
properties are unproductive. The company.’®
obligations outstanding as of Aug. 31 1910, Including Interest on bonds due
July 1, amounted to $2,317,818, which Includes final payment on Saddle
Mtn. and completion of agreement with London-Arizona
Copper Co.
[The company’s capital stock Is $7,000,000 auth., $4,404,500 outstand¬
ing; par $100.
Its bonded debt consists of $3,718,200 collateral trust 6%
gold bonds dated 1903 and due Jan. 1 1918 (lnt. J. & J.; Trust Co. of Am.,
trustee) secured by pledge of all the $5,000,000 stock of Congress Consoli¬
dated Mines Co., $1,350,000 of the stock of the Poland
Mining Co., $2,500,000 stock of Imperial Copper Co. and
$4,000,000 stock of the Tombstone
ConsoL Mines.—Ed.]
N. Y. office, 5 Nassau St.
Total Stock -Pledged for Dev. Co.Bonds
Pledgedfor
Name of Company—
Outstand.
CoU.Bds. New Notes.
Issued. NewNotes.
(1) Poland Mining Co
.$2,500,000 $1,350,000
$106,380 $1,000,000 *$56,775
(2) Tombstone Consol
15,000,000 4,000,000 3,005,515 3,000,000 *108,020(3) Imperial Copper Co
5,000,000 2,500,000
6,640 2,000,000
(4) London-Arizona
5,748,200
2,320,310
152,000
(5) Congress Consol
5,000,000 5,000,000
None
(6) Saddle Mtn. Mining
1,360,000
3,000
840,000
(7) Lookout Copper
459,840
459,790
,
....
Net earnings In the quarter ended with SeDtember were
nearly equal to
the dividend requirement of 4% for the full
The net reported for
year.
July was $45,000, for August $100,000—the largest the company ever made
la a month, and for September $65,000, a total of $210,000.
The dividend
at 4% calls for a little less than $260,000.
The earnings for the full year
are expected to exceed 10% on the
$6,485,000 of stock outstanding.
The
company has recently taken some unusually large orders.—V. 91, p. 520.
year
Retired: J. B. Dennis, F. S. Landstreet, W. J.
Casey, W. H. CasseL
Unchanged: Ferdinand C. Latrobe, Charles T. Crane, Charles H. Dickey.
Skelding to
$974,211 of the Wabash-Pittsburgh Terminal Ry. to retire the 1st lien
certificates authorized Oct. 30 1908 to the same amount, of which $875,000
are reported to be outstanding.
$700,720 of the West Side Belt RR. to retire the same amount dated
Sept. 1 1908, when they mature, of which $615,000 are said to have been
issued.
Any of the certificates not required to retire the old Issues may, It
Is stated, be used for necessary Improvements.—V. 91, p. 791.
947
......
-
*For the new notes are also pledged $1,210,901 certfs. of indebt, of Poland Co.
and $461,852 notes of Tombstone.—V. 82, p. 221.
Diamond Match Co.—Bond Issue.—President E. R. Stettinius says:
The report that directors have resolved to recommend to shareholder®
the issuing of bonds on Diamond Match Co.’s
property Is to say the least
premature.
To meet the company’s coupon notes as
they mature, and discharge
obligations on account of Its indebtedness to Bryant & May, Ltd., call®
expenditure of $650,000 per annum.
Some large stockholders have
urged that a financial plan be adopted that will permit of the
company’®
liquidating its indebtedness at lower rate per annum, say $150,000 to
$200,000, in order not only to insure maintenance beyond question of present
6% dividend rate, while making adequate provision out of
earnings for
additions and Improvements and Increased
working capital, but to render
possible the payment from time to time of extra dividend as
earning®
warrant.
The matter, however, has only been very
Informally discussed
as yet, and If any action be taken
along these lines it will probably not be
for
for
some
time.
Earnings from all sources ‘*including California lumber operation,” were
$1,011,906 for 8 mos. ended Aug, 31 1910, as compared with
$1,008,728
for same period of 1909.—V. 91,
'
p. 287.
* ~
V
...
General Motors Co.—Sale of Notes.—The
company has
sold to J. & W. Seligman & Co., New York, and
Lee, Higgins
son & Co., Boston, N. Y. and
Chicago, SI5,000,000 “first
fK
the CHRONICLE
lien"
6% 5-year sinking fund gold notes of $1,000 each
(c*), dated Oct. 1 1910 and due Oct. 1 1915, but redeemable
as a whole (or in
part through sinking fund) on any interest
day at 102% and interest; interest A. & O. It is understood
that Kuhn, Loeb & Co. and the Central Trust Co. of New
York (the trustee) have an interest in the purchase.
An
advance circular shows:
Authorized issue, >20,000,000, whereof to be issued now $15,000,000:
Issuable only with approval of the company’s finance committee, which Is
to be nominated by the bankers, $5,000,000.
Application will be made
to list these notes on the N. Y. Stock Exchange.
The mortgage provides
that net quick assets alone must never be less than 133 1-3% of notes out¬
standing.
Sinking fund $1,500,000 in 1911, $1,500,000 in 1912, $2,000,000
In 1913, $2,000,000 in 1914.
Majority of outstanding stock deposited under voting trust agreement,
the trustees designated by the bankers, who will nominate immediately
majority directors General Motors Co. and subsidiary companies; six out
of tbe seven members of the finance committee and a comptroller for each
company.
These companies manufacture 12 makes of motor cars.
Report of Chartered Accountant’s Preliminary Examination Sept. 30 1910.
(Approximate Figures, Subject to Revision).
Interest of General Motors Co. in Assets of Its Subsidiary Cos.
Interest in gross assets [based upon its stock holdings June 30
1910], including (a) real estate and plants, $12,127,000; (b)
materials, supplies, bills and accounts receivable and cash,
$24,541,000; and (c) miscellaneous investments of $252,000__$36,920,000
Deduct on account of the $14,642,000 liabilities of the General
Motors Co. and of its subsidiaries June 30 1910, being the
amount the General Motors Co. was liable for directly or through
its sub-companies, namely (Including $163,000 mtge. debt)-. 14,312,000
,
number from nine to eleven.
Report.—For the
company, has under date of Oct. 1 sent a circular to the
shareholders and bondholders of the U. S. Coal & Oil Co., of
which he is also Sec.-Treas. (see “Annual Reports on a pre¬
new
ceding page), saying in substance:
The Island Creek Coal Co. has been organized under the laws of Maine
with an authorized capital of 100,000 pref. shares and 150,000 com. shares.
The pref. shares are entitled to a cumulative quarterly dividend at not ex¬
ceeding $6 per share
per ann., before any dividend can be paid on the com¬
stock.
In case of liquidation or dissolution, the pref. stock will also
have preference In the distribution of assets to the extent of $120 per share
and accrued dividends.
The shares of pref. and common stock have equal
voting powers, except that common stock alone can vote on the Increase
of the amount of authorized common stock or on the sale of common stock
at less than $50 per share.
mon
50,000 of the pref. shares and 100,000 of the common shares have been
exchange for the 120,200 shares and $1,495,000 bonds of the
U. S. Coal & OH Co.
The remaining 50,000 of the pref. shares and 50,000
of the common shares are to remain In the treasury, to be hereafter Issued
from time to time by the directors of the new company at not less than $100
per share for the pref. shares and not less than $50 per share for the common
shares; but pref. shares may be issued hereafter at less than $100 per share
by vote of a majority of the holders of the outstanding capital stock, and
common shares may be Issued hereafter at less than $50 per share by vote
of a majority of the outstanding common shares.
The par value of the shares of the new company, both pref. and common,
has been placed at $1, a nominal sum, and having no relation to the actual
value of the shares.
This has been done for the purpose of allowing stock
hereafter to be issued from time to time, if i*equired for the needs of the
company, at such prices—not less than $100 and $50 respectively—as the
directors may determine, or at even less prices If the stockholders them¬
selves so vote.
By this plan of capitalization the necessary elasticity re¬
Directly and Through Subsidiaries.
(Total stocks outstanding $15,440,710, of which so held $13,845,383.)
Stock of—
Slock of—
Outstanding. Ami. Held.
Outstanding. Amt. Held.
Buick Motor Co._*$2,500,000**2,498,500 RandolphM.Car Co $399,400
§299,400
Welch
Motor
Car
Cadillac Mot.CarCo 1,500,000
1,500,000
Olds Motor Works
Co..Pontiac
224,000
3,132,390 3,132,390
224,000
793,000 J ackson-ChurchMarquette Mot.Co.
793,000
CartercarCo.
Wilcox Co.1
240,000
0552,720
a607,720
240,000
Oakland M. Car Co
800,000 Mich.Mot.Cas .Co.
100,000
100,000
800,000
75,000
Rapid Mot. Veh.Co
500,000
100,000
364,650,Champion Ignit.Co
300,000
Northway Motor A
IMich.AutoPartsCo.
300,000
Mfg.Co.
725,000
725,000 McLaughlin Motor
Elmore Mfg. Co
600,000
Car Co., Ltd... 1,003,000
600,000
500,000
Reliance M.Trk.Co
481,200
474,223 Gen.M.Co. of Mich.
10,000
10,000
Welch Co. of Det.
275,000.Oak Park Pow. Co.
275,000
200,000
133,000
Weston-Mott Co.. 1,500,000
747,000!
in Constituent Companies
set aside to
.
quired for future financing has been obtained and stockholders are pro¬
tected against the Issuance of treasury stock by the directors at less than
*
Buick has $2,000,000 common stock and $500,000 pref., all except
$1,500 of the pref. is held as above,
a Cartercar common stock is $557,720,
amount held $552,720;
pref. $50,000; none held.
fixed sum.
Directors of New Company.—Term expiring April 1912: F.
W. H. Coolldge, A. F. Holden, B. D. Hyde (to be filled).
a
W. Batchelder,
Term expiring
April 1913: E. R. Andrews, T. B. Davis Jr., C. A. Hlght, G. L. Stone (to
be filled).
Term expiring April 1914: H. A. Belcher, E. A. Clark, C. G.
Rice. G. H. Whitcomb, S. W. Winslow.
Statement of Vice-President W. C. Durant, New York, Oct. 3 1910.
Status of the Company as It Will Be upon the Issue of $15,000,000 of its
First Lien 6% Five-Year Sinking Fund Gold Notes.
First lien 6% 5-year sinking fund gold notes
$15,000,000
7% cum. pref. stock (whereof not less than $2,800,000 will be
held in the treasuries of the parent and subsidiary companies) 17,835,400
Gross
Sales.
Net
Interest
Depre- Dividends.
Balance,
Profits.
Paid.
ciation.
Sur. of def.
(2%).
$4,099,925 $564,947 $60,674 $266,155 $270,000 def.$31,882
3,983,537
681,134
82,787
10,000
270,000 sur.318,347
There was sold during the fiscal year 1909-10 22,750,111 lbs. copper fine
at an average of $0.12912; 355,749 ozs. silver fine at an average of $0.5233;
48,804 ozs. gold fine at an average of $20.
The total surplus on June 30
1910, after deducting $202,435 for discount on stock sold, was $2,464,370
The report made last spring by Dr. Otto Sussman, showing about
6,000,000 tons in sight. Is given in the annual statement and, concludes as follows:
“You are, in my opinion, at present confronted with a situation where
you
have an up-to-date smelter, with a capacity of 4,000 tons a day, and a mine
the life of which appears to be limited to a few [4H] years.
Your mine
management has lately taken an option on some ground north of your own
properties, and this is now being explored with drills.
Exploration work
of outside properties should be pursued vigorously, and at the same time
part of the smelting capacity should be used for customs ores.’’
The
drilling. It was stated at the annual meeting, had shown satisfactory results.
Officers.—Vice-Pres. George M. Luther has been elected
President, succeeding Jacob Langeloth, who resigned.
Edwin Thorne
and W. H. Robinson have been elected Vice-Presidents
to succeed Mr. Luther and George C. Clark Jr.
New Directors:
J. B. F. Herreshoff, George W. Wooster, William
Hamlin, E. R. Nicholsand Northrup Fowler were elected directors In place
George Crawford Claru Jr., George Crawford Clark, H. L. Higginson,
Langloth and H. Payne Whitney.—V. 90, p. 852.
of
J.
Hall Signal Co.—New Officer—J. J.
Kennedy has been
elected Vice-President and General
Manager to succeed C. S.
Sedgewick.—V. 86, p. 111.
Huntington Land & Improvement Co., Los Angeles.—
Guaranteed Collateral Trust Gold Debenture Notes All Sold
by
James H. Adams & Co.—The entire issue of
$1,000,000 col¬
of United States Coal & Oil Co.—F. W.
Batchelder, 55 Congress St., Boston, the Secretary of the
profits earned, due provision has been made for depreciation, $1,081,000
having been set aside therefor in the two years now reported upon.
Fiscal
Year.
1909-10
1908-09
ended July 31 1910:
Island Creek Coal Co., Boston.—Circular to Stockholders
and Bondholders
other book assets which the officers deem of considerable value.
The net
profits here represent profits which would normally be available for pay¬
ment of dividends.
Both in our valuation of assets and In computing the
Granby Consolidated Mining, Smelting & Power Co.,
Ltd.—Report.—For the year ending June 30:
year
Gross profits
$2,369,7951 Dividends
$912,441
Net profits
..$2,268,1841Balance, surplus
$1,355,743
Adding the previous surplus ($248,944), the total surplus was $1,604,687.
Deduct amount equal to pref. stock retired during year, $1,050,000, and
preliminary expenses charged off, $24,320, leaves the profit and loss sur¬
plus as of July 31 1910 $530,366.
Cash In bank July 31 1910, $1,131,518.—-V. 91, p. 874, 657.
Stockholdings.
874, 719.
LXXXXI.
.Independent Telephone Co. of Seattle.—Sale of Control.—
controlling interest in the company, heretofore owned by
Youngstown, Ohio, citizens, has been sold to New York
capitalists for, it is said, “upwards of $2,000,000," but
whether to the Bell interests does not appear.—V. 84, p. 162.
Intercontinental Rubber Co., New York.—New Directors.
—Charles H. Sabin, Vice-President of the Mechanics’ &
Metals Bank, and Walter Dutton, Secretary of the Inter¬
continental Co., have been elected directors, increasing the
1908-09, approximately
$8,844,600
Conservatively estimated for the year 1909-10
$10,485,000
In the above valuation of assets nothing has been Included In respect of
the good-will, agreements, &c., of the various companies, nor upon sundry
Common stock, whereof not less than $80,000 will be held in
treasury of the General Motors Co
20,374,030
The $15,000,000 first lien 6% notes wiil be secured, through the deposit
with the Central Trust Co. of mortgage notes and shares of stock of subsidi¬
ary companies representing total assets of $37,383,000, namely:
Real estate, plants and equipment value, at cost, less deprecia¬
tion (subject to real estate obligations aggregating $266,500) .$12,127,000
Current assets valued (at cost) at..
25,256,000
The proceeds of the sale of these notes will enable the General Motors
Co. to provide for its own outstanding Indebtedness and that of its con¬
trolled motor-manufacturing companies, leaving the companies with about
$25,000,000 net current assets, including at least $3,000,000 of cash.
With the proceeds of the sale of these notes the oompany will have a working
capital sufficient for an output equal to that of last year.
The gross sales of the subsidiary companies of the General Motors Co.
during the year ending Oct. 1 1909 were $34,000,000, and for the year
ending Oct. 1 1910 have been approximately $58,500,000.
The present
rate of sales and the outlook for the coming year are fully as favorable as
for the year just ended.
The companies manufacture 12 makes of pleasure and commercial motor
vehicles, Including high, medium and low-priced cars; these are: Cadillac,
Buick, Oldsmoblle, Elmore, Oakland, Cartercar, Rainier, Welch, WelchDetrolt, Rapid truck, Reliance truck and Randolph truck.—V. 91, p.
-sAJ
The
For the year
Stock Held
..it
gold debenture notes, guar.^p. & i., by H. E.
Huntington, was sold in a week's offering by James H. Ad¬
ams & Co., Los
Angeles and San Francisco. The issue was
fully described in last week’s “Chronicle." See p. 874.
The liabilities have since been materially reduced.
There is also a contingent liability of nbt over $600,000 arising from the
purchase of one of the subsidiaries.
General Motors Co.'s Proportion of the Profits of the Subsidiary Companies,
on
[VOL.
i
lateral trust
Equity of Gen. Motors Company in the net assets June 30 ’10_ .$22,608,000
Based
*
Offer of Exchange Made to All Security-holders of
For
To Holders of
v
Each
U. S. Coal & Oil Co.
—Will be Given in Exch.—
New Common.
10 shares
10 shares
Capital stock
18 shares
Bonds
$450 of principal
New Pref.
5 shares
5 shares
Preferred dividends are payable quarterly beginning Jan. 111911.
Any stockholder of the U. S. Coal & Oil Co. accepting this offer must
deposit his certificates of stock (properly endorsed) with F. W. Batchelder,
55 Congress St., Boston, on or before Nov. 15 1910.
Bondholders should
deposit their bonds with Mr. Batchelder on or before May 15 1911, such
deposit being made for the purpose of exchange on the above^stated basis.
Lackawanna Steel Co .—Results.—The combined earnings
of the company
and subsidiaries for the 3 and 9 months
ending Sept. 30 1910 were:
Total
lnt. onBds.
S.F. and
Three
DepreciaBalance,
Income.
and Notes. Exhaustion.
Months.
tion, <fec.
Surplus.
1910
$437,500
$101,656
_$1,440,150
$308,638
$592,356
1909
1,441,152
99,094
406,875
348,584
586,599
Nine Months.
1910
.$4,888,493
$1,016,804
$1,292,083
$293,270
$2,286,335
1909
240,316
831,944
2,367,606
1,199,375
95,970
The unfilled orders on Sept. 30 1910 were 261,931 gross tons, against
406,862 In 1909.—V. 91, p. 97.
_
New Castle
(Ind.) Light, Heat & Power Co.—Dividend.—
1 a first quarterly dividend of
record on that date.
The company paid on Oct.
2% on the $100,000 stock of
Directors (and officers).—Pres., Charles S. Hlnchmar; Vice-Pres., J. T.
Bacon, and Treas., William C. Arrison, of Philadelphia; Sec., Howard L.
Olds, of Indianapolis, and E. M. Carr, New Ca3tlc. Compare V. 88, p. 1441.
Pennsylvania Water & Power Co.—See Consolidated Gas,
Light & Power Co., Baltimore, above.—V, 91, p.467.
Penn Yan (N. Y.) Gas Light Co.—
Electric
Capital stock Is $24,750.
Refunding 5% mtge., auth. Issue, $100,000;
dated July 1 1909 and due July 1 1949 (lnt. J. & J.); outstanding, $55,000,
Miles of mains, bH. Annual output, about 8,500,000 cu. ft.
Gross earn¬
ings In 1909, $16,034; net, $4,379; taxes, $578; bond lnt., $2,875; other
lnt., $122.
Pres., Wm. T. Morris.
Transit & Light Co., Bakersfield, Cal.—New
has awarded to J. G. White & Co.,
New York, a contract for the construction at Bakersfield of a
steam and electric powder plant to accommodate two 2,000
k. w. horizontal turbines, &c., total cost estimated, $400,000.
—V. 77, p. 401.
Pressed Steel Car Co., Pittsburgh.—Decision.—Judge
Hazel in the United States Circuit Court on Oct. 5, in the suit
brought by the Simplex Railway Appliance Co. (controlled
by the American Steel Foundries) against the Pressed Steel
Car Co., handed down a decision holding that the patent
issued to Carl E. Bauer for improvements in car bolsters is
valid and that the defendant has infringed the patent.
Power,
Plant.—The company
An injunction Is granted restraining the defendant from making or selling
the Infringing device.
U. S. Commissioner Shields Is anoolnted special
master to assess the damages.
An appeal will be taken.—V. 90, p. 499.
For other Investment News
see pages
965 and 966.
£3
THE CHRONICLE
Ocx. 8 1910.]
jepcrts and gujcHtiueuts,
THE ATCHISON TOPEKA & SANTA FE RAILWAY COMPANY.
FIFTEENTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDING JUNE 30 1910.
Office of The Atchison Topeka & Santa Fe Railway System,
No. 5 Nassau Street, New York City.
September 13 1910.
019
To the Stockholders:
Your Directors submit the
following report for the fiscal
year July 1 1909 to June 30 1910 inclusive.
The Lines comprising the Atchison System, the operations
of which are embraced in the following statements, are as
follows:
fm
Atchison Topeka & Santa Fe Railway
Rio Grande & El Paso Railroad
Gulf Colorado & Santa Fe Railway
Eastern Railway of New Mexico
Pecos & Northern Texas Railway
Pecos River Railroad
Santa Fe Prescott & Phoenix Railway
Southern Kansas Railway of Texas
Texas & Gulf Railway
June 30 1910. June 30 1909.
7,439.64 miles 7,438.30 miles
20.21
20.17
1,518.18
1,518.18
225.21
225.29
227.29
151.82
54.27
257.40
125.07
54.26
—
1
257.40
124.92
96.14
“
.
INCOME STATEMENT.
The following is a summary of the transactions of the
System for the years ending June 30 1909 and 1910:
1909.
$95,424,091 89 $107,543,250 16
other charges
Fixed
on
1910.
$94,265,716 87 $104,993,194 67
1,158,375 02
2,550,055 49
Expenses, Including taxes, rentals and
61,458,019 13
75,133,314 54
$33,966,072 76
$32,409,935 62
charges, including accrued Interest
Adjustment Bonds
13,548,081 93
Balance
11,984,151 36
$20,417,990 83
$20,425,784 26
From the net Income for the year the following sums
have been deducted:
Dividends on Preferred Stock—
No. 23 (2,4%) paid Feb. 1
1910
$2,854,345 00
No. 24 (2 4%) paid Aug. 1
1910
2,854,345 00
$5,708,690 00
Dividends on Common Slock—
No. 18 (3%) paid Dec. 1
1909
$4,714,605 00
No. 19 (1 4%) paid Mar. 1
:
2,451,292 50
No. 20 (1 4%) paid June 1
1910
2,482,132 50
14,378,382 71
$41,687,632 71
Retired:
Serial Debenture 4% Bonds—
or
Series G
Series H
I
Series
Series J
Convertible 4% Bonds
Convertible 5% Bonds
Miscellaneous Divisional Bonds
$1,000
2,393,000
2,419,000
1,363.000
37,382,000
6,577,000
766,500
00
00
00
00
00
00
00
$9,213,867 29
$302,004,952 71
ending June 30 1911 (in¬
cluding interest on $31,997,000 of this Company’s Convertible
4% Bonds of 1909 and 1910 issued after June 30 1910) will
be approximately $12,739,335, or an average monthly charge
of about $1,061,611.
CAPITAL
EXPENDITURES
AND
BOOK VALUES.
REDUCTION
OF
During the fiscal year charges to Capital Account for the
construction and acquisition of additional railways, equip¬
ment and other properties, and for additions and
betterments,
amounted in the aggregate to $33,616,184 60, as follows:
Construction and acquisition of new mileage, including the acquisition of
bonds and stocks of other railway companies:
Atchison Topeka & Santa Fe Ry
$1,617 98
Arizona & California Ry.
1,245,721 43
Concho San Saba & Llano Valley RR
645,090 18
Eastern Ry. of New Mexico.
4,788,081 43
Fullerton & Richfield Ry
106,228 92
Grand Canyon Ry
34,535 75
Gulf Beaumont & Kansas City Ry
546 88
Gulf Colorado & Santa Fe Ry
253,244 34
Gulf & Inter-State Ry. of Texas
1,669,691 31
Kings River Ry
47,406 13
Sunset Western Ry
5,239 05
Total.
Deduction—
Texas & Gulf
$8,797,403 40
Ry
56,500 50
$8,740,902
Right of Way, Station Grounds and Real Estate
209,948
Widening Cuts and Fills, including Protection of Banks
424,102
Grade Revisions and Changes of Line
1,167,800
Bridges, Trestles and Culverts
510,245
Ballast, Including costof spreadlngand putting under track
703,744
Increased Weight of Rail
285,342
Track Fastenings and Appurtenances
855,869
Additional Main Tracks
:•
2,769,547
Sidings and Spur Tracks
490,484
Terminal Yards
629,115
Track Elevation, Elimination of Grade Crossings, Improve¬
ments of Over and Under Grade Crossings
257,178
Interlocking, Block and Other Signal Apparatus
219,655
Buildings and Shops
1,889,251
Shop Machinery and Tools
110,322
Equipment
1
8,164,059
Betterments to Equipment
278,181
Other Additions and Betterments
504,087
FuelLands
:
923,500
Miscellaneous Items
451,792
...
90
88
77
62
59
54
50
95
09
06
90
06
22
93
98
58
10
42
00
42
_
9,648,030 00
Appropriation for Fuel Reserve Fund..
Appropriated for Addlt.ons and Better¬
4,000.000 00-- 20,059,938 10
Surplus carried to Profit and Loss.
Surplus to credit of Profit and Loss June
$365,846 16
_
1909
Premium on Convertible Bonds sold
!*-
Deduction In Profit and Loss Account.
Deductions—
Santa Fe Pacific Lands sold.
$19,888,180 74
Net Increase In Capital Account during the year (See Ex¬
hibits B and C)
$33,616,184 60
22,223 23— 19,865,957 Si
$20,231,803 67
accounts.
the sum of $240,000 in cash was
received as the net proceeds of sales of land embraced in the
Santa Fe Pacific Land Grant, but this was directly written
off the book value of Railroads, Franchises and Other
Property, and the transaction does not appear in the In¬
year
Account.
CAPITAL STOCK AND FUNDED DEBT.
The
outstanding Capital Stock (deducting stock in treas¬
ury) on June 30 1909 consisted of:
Common
$121,559,500 00
114,173,730 00
Preferred
*
Issued during the year:
Common Stock issued In exohange for Convertible Bonds
retired
$235,733,230 00
43,959,000 00
apit
CapItalTStock
outstanding June 30 1910:
Common
Preferred
The outstanding
bonds in treasury)
to
‘ i
Note.—The Item of $3,990,130 34 represents an adjustment necessary
to comply with rules of the Inter-State Commerce Commission relative to
the purchase and retirement of equipment, which provide that the
cost of
equipment acquired since July 1 1907 (the date depreciation rules became
effective) and still in service, shall rest in capital account, and that the
balance in the account Equipment Depreciation Reserve shall
represent
the total depreciation accrued since that date on equipment In service.
MAINTENANCE OF EQUIPMENT.
following statement shows the sums charged to
Operating Expenses for Maintenance of Equipment during
The
each year
Year
1897
1898
1899
1900
1901
1902
1903
1904
since July 1 1896:
Average Operated
ending June 30— Mileage.
1905...
1906
1907
1908
1909
1910
...
.
...
6,443.81
6,936.02
7,032.62
7,341.34
7,807.31
7,855.38
7,965.13
8,179.59
8,305.40
8,433.99
9,273.15
9,415.01
9,794.86
9,916.33
Total
Expenditure
Expenditure.
Per Mile.
$3,443,884 82
$534 45
4,659,277 99
4,810,795 64
5,267,832
6,257,456
7,864,951
8,510,543
10,006,135
10,914,864
10,720,040
11,779,846
14,246,621
13,903,897
15,560,047
40
57
25
09
41
47
43
64
44
37
44
671
684
717
801
75
07
56
49
1,001
1,068
1,223
1,314
22
48
31
19
05
34
18
51
13
1,271
1,270
1,513
1,419
1.569
ending June 30 1910 maintenance charges,
including renewals and depreciation, averaged as follows:
Per
locomotive
$3,832 37 !.
.
$279,692,230 00
4
240,000 00
For the year
$165,518,500 00
114,173,730 00
t
$33,856,184 60
$18,821,250 74
1,066,930 00
Income from sources other than earnings from operation
consisted of interest on cash in banks and sums collected as
interest and dividends upon bonds and stocks of companies
the operations of which are not included in the System
come
Additions and Betterments written off during
year ending June 30 1908, reinstated.
$280,920 75
Transferred from account Equipment De¬
preciation Reserve
3,990,130 34—4,271,051 09
30
Surplus to credit of Profit and Loss June 30 1910
During the fiscal
$29,585,133 51
Add:
703.218 10
ments
1909
Obligations Purchased
$19,000 00
27,290,250 00
Total System Funded Debt outstanding June 30 1910
during the year 168.75 miles.
mileage operated during the fiscal year end¬
ing June 30 1910 was 9,916.33 miles, being an increase of
121.47 miles as compared with the average mileage operated
during the preceding fiscal year.
In addition to lines covered by this report, there were com¬
pleted on June 30 1910 211.78 miles of additional line, of
which 88.57 miles were ready for operation on July 1 1910.
The Company also controls, through ownership of stock
and bonds, other lines aggregating 263.23 miles and is inter¬
ested jointly with other companies in 563.02 miles.
For detailed statement of present mileage and of changes
in mileage since last Annual Report, see pages 40 to 45
[pamphlet report].
a
Convertible 4% Bonds—Issue of 1909..Convertible 4% Bonds—Issue of 1910._
50,901,500 00
The average
sources
Obligations Issued:
Convertible 4% Bonds—Issue of 1906._
Decrease of Funded Debt
increase
Income from all
in the Funded Debt
Interest charges for the year
9,792.50
9,961.25
Total operating revenues
Income from other sources
The following changes
occurred during the year:
Funded Debt of the System (deducting
amounted on June 30
..$311,218,820 00
Per locomotive mile
Per passenger car, including
Per passenger car
Per freight car....
Per freight car mile.
mall and express.
...
.1287
1,249 47
,
.
.
0136
108*23
0091
950
THE CHRONICLE
061009911
maintenance charges include a
expenditures for Maintenance of
—charged to Superintendence, Shop Machinery
and Tools, Injuries to Persons, Stationery and Printing,
Other Expenses and Maintaining Joint Equipment at
re
Terminals.
The amount to the credit of the Equipment Depreciation
Reserve June 30 1909, as shown In the last Annual Report,
was 3131,617 46, to which should
be added $2,150 69,
representing credit balance In reserve of the Texas & Gulf
Railway Co. not previously included in operations of the
System, making a total of
The
following sums
during the year:
were
Cash collected for equipment sold and equip¬
ment destroyed on foreign lines Including In¬
surance collections,
Fiscal Year
Ending
June 30.
1897 (18 mos.)
1898
1899
281,911 15
2,888,530 24
$3,072,298 38
Charges to the reserve for equipment retired
during the year were as follows:
Cars
1,372 Freight-Train Cars
13 Miscellaneous Cars
1903
1904
1905
1907
1908
1909
$15,526 46
26,314 83
647,935 39
8,929 70
3 Locomotives
9 Passenger-Train
of
carried
passengers
one
mile increased
11.83 per cent.
The following is a consolidated statement*of the business
of the System for each fiscal year during the
$183,768 14
$2,275,711 31
187,224 38
143,683 40
Salvage
number
LXXXXI
128,971,624, or 11.64 per cent, while passenger-car mileage
increased 11,994,861, or 10.55 per cent, and the passengertrain mileage (passenger and mixed) increased 2,220,209, or
period since
January 1 1896:
credited to the reserve
Estimated depreciation accrued
Renewal charges
The
[VOL.
Gross
Expenses,
Revenues,
including
Average
Interest on
including
Taxes,
Miles
Income Jrom Rentals and
Bonds.
Operated
Other
Other
Sources.
Charges.
■
>,443
>,936
',032
',341
7,807
r,855
r,965
1,179
1,305
1,433
>,273
>,415
>,794
>,916
Net
Revenue.
$44,532,628 $36,038,455 $8,440,387
$53,785
39,396,126 30,513,553 7,045,988 1,836,584
40,762,933 29,332,964 7,241,972 4,187,997
46,498,899 29,414,427 7,345,166 9,739,304
54,807,379 34,502,039 7,830,810 12,474,529
60,275,944 36,272,432 8,438,985 15,564,526
63,668,390 40,635,576 9,134,485 13,898,329
69,419,975 44,641,434 9,418,770 15,359,771
69,189,739 47,835,883 9,611,510 11,742,346
79,390,749 51,035,355 10,622,184 17,733,209
94,436,574 61,779,916 11,487,934 21,168,723
91,289,770
95,424,091
65,031,582 12,579,301 13,678,886
61,458,019 13,548,081 20,417,990
75,133,314 11,984,151 20,425,784
107,543,250
698,706 38
$2,373,592 00
Add—To adjust Equipment Depreciation Reserve so that this
account shall reflect the depreciation accrued since
1907 on equipment In service (see note preceding)
Balance In
reserve
July 1
3,990,130 34
June 30 1910
ment
purchased and built during the year and in
respect of payments made for equipment received
during prior years:
52 Locomotives
208 Passenger-Train Cars
4,424 Freight-Train Cars
208 Miscellaneous Cars
-
$1,087,973
2,318,799
5,267,996
187,996
19
80
42
55
$8,862,765 96
Less—Value of equipment retired during the year charged to
the Equipment Depreciation Reserve
698,706 38
$8,164,059 58
A statement of the locomotives in service and of their
tractive power will be found on page 39 [pamphlet report].
MAINTENANCE OF WAY AND STRUCTURES.
following statement shows the sums charged to Oper¬
ating Expenses for Maintenance of Way and Structures
during each year since July 1 1896:
Average Operated
Year ending June 30— Mileage.
1897
6,443.81
1898
6,936.02
1899
7,032.62
1900
7,341.34
1901
7,807.31
1902
....7,855.38
1903
7,965.13
1904
8,179.59
1905
8,305.40
1906
8,433.99
1907
9,273.15
1908
9,415.01
1909
9,794.86
1910
9,916.33
Total
Expenditure.
$6,282,923 15
8,281,397 88
7,672,107 62
6,354,372 10
6,433,840 36
6,141,466 39
9,304,892 04
9,170,234 07
11,385,418 33
12,475,407 97
15,286,062 66
14,120,828 02
12,884,406 81
17,807,136 20
...
._
Expenditure
per Mile.
$975 03
1,193 97
1,090 93
865 56
824 08
781 82
1,168 20
1,121 11
1,370 85
1,479 18
1,648 42
1,499 82
1,315 43
1,795 74
COMPARISON OF OPERATING RESULTS.
The following is a statement of revenues and expenses of
the System for the fiscal year ending June 30 1910 in com¬
year:
Year ending
June 30 1910.
Year ending
June 30 1909.
Operating Revenues—
Freight
$71,194,055 59 $64,212,638 10
Passenger...
25,437,181 98
22,734,505 32
Mall, Express and Miscel¬
laneous
8,361,957 10
7,318,573 45
....
Total Oper. Revenues.$104,993,194 67 $94,265,716 87
Operating Expenses—
Maintenance of Way and
Structures
$17,807,136 20 $12,884,406 81
Maintenance of Equlp’t.
15,560,047 44
13,903,897 37
Traffic Expenses
2,114,260 49
1,904,822 11
Transportation Expenses 31,821,825 23 26,674,863 83
General Expenses
2,458,550 52
2,127,205 07
Total Oper. Expenses. $69,761,819 88 $57,495,195 19
Net
Operating Revenue. $85,231,374 79 $36,770,521 68
Ratio of Operating Ex¬
penses
to Operating
:
mile of road operated for each fiscal
66.44
Increase (-f) or
decrease (—).
+ $6,981,417 49
+ 2,702,676 66
+ 1,043,383 65
+ $10,727,477 80
+ $4,922,729
+ 1,656,150
+ 209,438
+ 5,146,961
+ 331,345
39
07
38
40
45
+$12,266,624 69
$1,539,146 89
60.99
+ 5.45
The
following averages are deduced from tables set forth
on pages 34 and 37
[pamphlet report].
The average tons of freight per loaded car mile increased
from 18.35 to 19.08, or 3.98 per cent.
The average tons of freight carried per freight-train mile
increased from 366.06 to 388.80, or 6.21 per cent.
The average freight revenue per freight-train mile de¬
creased from $3 05 to $3 00, or 1.64 per cent.
;
The average passenger revenue per
passenger-train mile
was $1 21, or the same as in the
previous year.
The average passenger-train Tevenue
per passenger-train
mile increased from $1 52 to $1
53, or .66 per cent.
The tons of freight carried one mile
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
(revenue and com¬
pany) increased 1,532,785,910, or 19.89 per cent, while
freight-car mileage (loaded and empty) increased 94,604,750,
or
15.96 per cent, and freight-train
mileage (freight and
mixed) increased 2,711,479, or 12,88 per cent.
:
••
■
'.
'*•*•#» ?»?+.’,*
&
iiij?
O'":•S'.. •'
"
■At
...
's':.'
...
.
39,214,099
40,513,498
46,232,078
54,474,822
59,135,085
62,350,397
68,171,200
68,375,837
78,044,347
93,683,406
90,617,796
94,265,716
104,993,194
_
.
10
24
63
23
61
53
28
18
25
25
91
38
87
67
Average per
Mile oj Road.
$4,752 04
5,653
5,760
6,297
6,977
7,527
7,827
8,334
8,232
9,253
10,102
9,624
9,624
10,587
69
80
49
41
87
92
31
70
55
65
82
00
91
The following statement shows the development of the
freight and passenger revenues of the System since July 1
1896:
1897
1898
1899
1900
Freight
Revenue.
r
.
.
._
_
.
.
.
_
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
.
...
..
._
.
_
$22,067,686
28,588,716
29,492,586
33,729,332
39,052,557
41,815,607
44,622,438
47,762,653
47,408,982
54,598,902
65,500,309
61.848.638
64.212.638
71,194,055
Passenger
Revenue.
77
76
65
83
43
05
71
23
36
82
42
51
10
59
$5,574, 288
7,347, 361
8,126, 141
9,334, 661
11,678, 017
13,439, 384
13,469, 985
15,433, 773
16,045, 380
18,013, 988
21,171, 629
21,643, 427
22,734, 505
25,437, 181
31
59
85
57
25
57
78
63
27
56
08
49
32
98
TREASURY.
Neither this Company nor any of its auxiliaries has any
notes or bills outstanding:
The Company held in its treasury on June 30 1910 $34,-
814,895 07 cash, and had available $3,780,000 General
Mortgage Bonds, including bonds not yet certified by the
Trustee.
The Company also has in the treasury unpledged
a large amount of stocks and bonds of other
companies, of
which part is carried in the balance sheet as Investments
and part is included under Railroads, Franchises and Other
Property.
In addition to the funds derived from Four Per Cent Con¬
vertible Bonds, Issue of 1909, referred to in the last annual
report, the need was apparent for further sums to complete
new lines under construction, purchase
additional equipment,
and for other contemplated extensions and improvements.
Therefore your Directors on March 29 1910 authorized a
further issue of Four Per Cent Convertible Bonds, to be
known as Issue of 1910, to which stockholders were given
the right to subscribe at 102
and interest to the extent of
14 per cent of their holdings.
During the year $41,668,-
632 71 has been received on account of the principal of
these two issues, of which $39,947,000 represents subscrip¬
tions fully paid for which bonds have been delivered.
Fur¬
ther installments of principal which will mature during the
current fiscal year amount to $30,275,367 29.
Exchanges of Convertible Bonds for
gated $43,959,000 during the year.
common
stock aggre¬
FUEL RESERVE FUND.
The fund has been increased
certain fuel properties.
v
Amount to credit of Fund June 30 1909.
Added during the year
by earnings derived from
.
.--1
Ih Fund June 30 1910.
,$313,676 85
703,238 95
..$1,016,915 80
On June 30 1910 there remained in the treasury of the
Cherokee & Pittsburg Coal & Mining Company an unex¬
pended surplus amounting to $152,513 08, so that Jthe total
amount available for replacement of fuel properties'in which
your Company is interested is $1,160,428 88, ' ’ j
•
"
since July 1 1896:
$30,621,230
..
...
...
year
Gross Operating
Revenues.
Year ending June 30—
Year Ending June 30—
The
Revenues..
per
following statement shows the gross operating reve¬
System (exclusive of income from other sources)
of the
$6,363,722 34
The following charges were made to Additions
and Betterments in respect of additional equip¬
parison with the previous
The
nues
ji;
; *■
,
.
.
■ -
■
.a a t ^t..-.
u
Oct. 8
THE CHRONICLE
1910.]
ARIZONA & CALIFORNIA RAILWAY.
The extension of this line from the west bank of the Colo¬
rado River to a junction with the main line at Cadiz, Cali¬
a distance of 83 miles, was completed during the
and opened for traffic July 1 1910.
fornia,
year
CONCHO SAN SABA & LLANO VALLEY RAILROAD.
This line, extending from Miles to Paint Rock, Texas, a
distance of 16.73 miles, was acquired during the year.
An
extension under its charter from San Angelo to Sterling City,
Texas, approximately 41 miles, under construction at the
close of the fiscal year, has since been completed, and was
opened for traffic August 1 1910. The results of the opera¬
tions of this line will be included in statements covering
System operations hereafter published.
FULLERTON & RICHFIELD RAILWAY.
In order to shorten the distance between San Bernardino
and Los Angeles via Riverside, a cut-off between Fullerton
and Richfield, a distance of 5.4 miles, was constructed under
the charter of the above-named company and opened for
traffic
July 1 1910.
GULF & INTER-STATE RAILWAY OF TEXAS.
The capital stock of this company has been acquired, and
it will be treated as a System line in reports hereafter pub¬
lished.
The Gulf & Inter-State Railway extends from
Beaumont to Port Bolivar, Texas, where it has extensive
dock facilities, at which ocean-going vessels can receive and
cargoes.
It operates a tug and barge line
between Port Bolivar and Galveston, and constitutes the
shortest line between Galveston and Beaumont, at which
discharge their
latter point it connects with
Colorado & Santa Fe Railway
the leased lines of the Gulf
Company.
Heavy work is in progress to reduce grades and curvature
branch of the Gulf Colorado & Santa Fe
Railway between Coleman and Temple with the object of
establishing a low-grade short line in conjunction with the
new main line between Coleman and Texico, and the rail¬
ways of The Eastern Railway Company of New Mexico and
the Atchison Company for traffic between points on or near
of the San Angelo
the Gulf of Mexico and the Pacific Coast.
ADDITIONAL MAIN-TRACK MILEAGE.
The mileage of second track in operation on June 30 1910
was 526.95 miles, as compared with 492.80 miles at the close
of the preceding fiscal year, being an increase of 34.15 miles.
SECOND TRACK WORK IN PROGRESS:
Illinois and Missouri Divisions—
Edelstein to Monica, Ill
Wllllamsfleld to Knox, Ill
Illinois River to Chilllcothe, Ill
Lubbock, 46.23 miles, and Plainview to Floydada, 25.75
miles, were completed and opened for traffic on January 9
1910 and May 1 1910 respectively.
Other branches under
construction at the close of the year were Slaton Junction
to Lamesa, a distance of 54 miles, and Lometa to Eden* a
distance of 98 miles; the former has since been completed
and will be
opened for traffic in the
near
future.
10.22 miles.
15.70
1.70
“
“
64.14
31.75
“
Wyaconda to Hart, Mo
Rothvllle to Carrollton, Mo
123.51 miles.
Lines West of
Albuquerque—
Rio Puerco to Suwanee, N. M
Rita to Laguna, N. M
McCartys to Horace, N. M
Winslow to Dennison, Ariz
Flagstaff to Ash Fork, Ariz
Daggett to Barstow, Cal
Barstow to Cottonwood, Cal
14.39 miles.
9.08
“
10.73
“
15.84
“
60.03
“
8.13
“
12.18
130.38
Total
253.89
“
Of the second track work in progress, it is expected that
91.76 miles on the Illinois and Missouri Divisions and 50.54
miles on the lines west of Albuquerque will be completed
by January 1st next, making a total
miles of second track in operation.
WEST TEXAS CONSTRUCTION.
The construction of the lines in West Texas, referred to
in the last annual report, has been actively pushed during
the year.
Substantial progress has been made on the main
line connecting the Gulf, Colorado & Santa Fe Railway at
Coleman with the Eastern Railway of New Mexico at Texico;
45 miles immediately southeast of Lubbock were completed
at the close of the year, and 155 miles of the remaining dis¬
tance between Lubbock and Coleman have now been graded
and are ready for track laying.
Branches, Plainview to
951
that date of 669.25
on
GENERAL CONDITIONS.
Your
property is in excellent condition physically and the
Company has made provision for its present financial needs.
However, in view of the unsettled economic conditions of the
country and the impossibility of accurately forecasting the
trend of current events, especially as applied to the railroad
interests, your Directors feel that it is necessary to proceed
with caution even as to those improvements and extensions
which are most desirable from the standpoint of the public
welfare and which are imperatively demanded.
We take pleasure in extending our usual acknowledgment
of the credit which is due to officers and employees for
faithful and efficient service and constant loyalty to your
interests
EDWARD P. RIPLEY, President.
THE ATCHISON TOPEKA & SANTA FE RAILWAY COMPANY-SYSTEM.
Comprising The Atchison Topeka & Santa Fe Railway Company, Rio Grande & El Paso Railroad Company, Gulf Colorado
& Santa Fe Railway Company, The Eastern Railway Company of New Mexico, The Pecos & Northern Texas
Railway Company, The Pecos River Railroad Company, Santa Fe Prescott & Phoenix Railway
Company, The Southern Kansas Railway Company of Texas and The Texas & Gulf
Railway Company.
INCOME ACCOUNT FOR THE FISCAL YEAR
Dr.
Operating Expenses:
Maintenance of Way and Structures
Maintenance of Equipment
Traffic Expenses
Transportation Expenses
rtoneral
Taxes
417,807,136
15,560,047
2,114,260
31,821,825
Rxnfinsfts
ENDING JUNE
30
1910.
Operating Revenues:
Freight
Passenger..
Mall, Express and Miscellaneous
20
44
49
23
Cr.
--.$71,194,055 59
25,437,181 98
8,361,957 10
$104,993,194 67
2,458,550 52
$69,761,819 88
4,006,418 83
_A
Balance. Operating Income carried down
81,224,955 96
—
$104,993,194 67
$104,993,194 67
Interest on Bonds
$11,984,151 36
Rental of Tracks and Terminals
27,700 99
Hire of Equipment
1,292,719 50
Advances to Subsidiary Companies
44,655 34
Dividend No. 23 on Capital Stock, Preferred $2,854,345 00
24
“
“
“
2,854,345 00
“
Operating Income brought down-.
Interest and Discount
Accrued Interest collected from Bondholders converting
bonds Into stock
Income from Investments
Miscellaneous Income Receipts
__
_
_
$31,224,955 96
1,171,261 14
114,690 00
1,245,971 67
18,132 68
5,708,690 00
“
“
“
18
19
20
“
“
“
“
Common
“
“
“
“
$4,714,605 00
2,451,292 50
2,482,132 50
9,648,030 00
703,218 10
4,000,000 00
Appropriation for Fuel Reserve Fund
Appropriated for Additions and Betterments
Balance, being Surplus for 12 months ending June 801910,
carried to Profit and Loss Account
>
-
865,846 16
-
$33,775,011 45
$33,775,011 45
PROFIT AND LOSS ACCOUNT TO JUNE 30 1910.
Dr.
67
Balance brought forward from June 301909
$18,821,250 74
Surplus for 12 months ending June 30 1910
365,846 16
Premium on Bonds (offsetting in part discounts written off
In prior years)
1.066,930 00
$20,254,026 90
$20,254,026 90
$22,228 23
Sundry Adjustments applicable to prior years
Balance (Surplus) carried to General Balance Sheet
SO ,231.803
GENERAL BALANCE SHEET—EXHIBIT A.
RAILROADS, FRANCHISES AND OTHER PROPERTY.
Amount June 30 1909, as published In Annual Report
$527,908,894 28
Expenditures for Construction and Equipment during Fiscal
Year ending June 60 1909
4,618,718 45
GENERAL BALANCE
Cr.
Deductions—
Santa Fe Land Improvement Co.:
Antioch Warehouse
Texas Tie & Lumber Preserving Co
CAPITAL STOCK JUNE 30 1910.
INVESTMENTS NEW ACQUISITIONS.
Expenditures to June 30 1909, as shown in Annual Report-- $7,288,123 86
$10,419,703 40
$42,127 57
$10,377,575 83
GENERAL BALANCE SHEET—EXHIBIT D.
$532,527,612 73
SHEET—EXHIBIT C.
Expenditures during the Fiscal Year ending June 301910:
Grand Canyon Ry
$34,535 75
Gulf & Inter-State Ry. of Te^as
1,669,691 31
Sunset Western Ry
5,239 05
Santa Fe Land Improvement Co.—
Chanslor-Canflela Midway Oil Co
923,500 00
Santa Barbara Tie & Pole Co.
498,613 43—3,131,579 54
$33,800 00
8,327 57—
Issued.*
Common
Preferred
*
1
In
Treasury,
Outstanding.
$165,563,000
114,199,530
$44,500
26,800
$165,518,500
114,173,730
$279,762,530 ]
$70,390
$279,692,230
certain purposesby the Reorganization Committee and notused
953
THE CHRONICLE
[VpL.
LXXXXI
GENERAL BALANCE SHEET—EXHIBIT B.
EXPENDITURES FOR ADDITIONS AND BETTERMENTS, CONSTRUCTION AND OTHER CAPITAL PURPOSES DURING
FISCAL
'
:
ENDING JUNE
1
.
80 1910.
r
s
Additions and
Betterments.
Atchison Topeka & Santa Fe Ry
Atchison Topeka & Santa Fe Ry. (Coast Lines).
Arizona & California Ry
Bradshaw Mountain RR
Cane Belt RR..
Concho San Saba & Llano Valley RR.
Eastern Ry. of New Mexico System
Fullerton & Richfield Ry
Gulf Beaumont & Great Northern Ry
Gulf Beaumont & Kansas City Ry
Gulf Colorado & Santa Fe Ry.
Houston Belt & Terminal Ry. Co
Jasper & Eastern Ry
Joplin Union Depot Co
Kansas City Terminal Ry. Co
Kings River Ry
Prescott & Eastern RR
Santa Fe Pacific RR
Santa Fe Prescott & Phoenix Ry
Santa Fe Land Improvement Co
Southern Kansas Ry. of TexasTexas & Gulf Ry
Union Passenger Depot Co. of Galveston
Other
Construction.
$9,734,356 96
2,928,066 21
Expenditures.
51,617 98
1,245,721
*56 32
•173 51
Total.
•5442,385 94
•10,076 53
89,293.589 00
2,917,989 68
1,245,665 11
43
•173 51
16,432 60
16,432
645,090
5,284,583
106,228
15,370
6,757
1,722,427
17,480
8,498
10,000
100,000
47,406
645,090 18
4,788,081 43
106,228 92
~4 96,502*20
15,370 21
6,211 01
1,469,183 13
546 88
253,244 34
"177480 66
8,498 90
’
“fo',boo'66
100,000 00
47,406 13
*
4,204 78
4,204
1,090
”'1,09066
"
158,144
8,418,407
492,259
30,346
84
63
23
24
57,140,667 65
60
18
63
92
21
89
47
00
90
00
00
13
78
00
84
63
•109,777 74
158,144
8,418,407
492,259 23
•26,154 26
513 45
513 45
"5432,609 88
530.485,811 88
53,277 24
523,777,754 11
Reinstatement of Additions and Betterments written off In 1908 and credited to
Appropriated Income per contra
Deduction—
Land Sales during
YEAR
•-
280,920 75
530,766,732 63
Fiscal Year.
240,000 00
530,526,732 63
•
Credits.
Note.—Additions and Betterments includes net charges aggregating 53,990,130 34 (see
note, page 10, pamphlet report).
THE ATCHISON TOPEKA & SANTA FE RAILWAY COMPANY—SYSTEM.
Comprising The Atchison Topeka & Santa Fe Railway Company, Rio Grande & El Paso Railroad Company, Gulf Colorado
& Santa Fe Railway Company, The Eastern Railway
Company of New Mexico, The Pecos & Northern Texas
Railway Company, The Pecos River Railroad Company, Santa Fe Prescott & Phoenix Railway
Company, The Southern Kansas Railway Company of Texas, and The Texas & Gulf
Railway Company.
GENERAL BALANCE SHEET JUNE 30 1910.
Balances
•
June 30 1909.
Balances
June 30 1910.
ASSETS.
Railroads,
chises
Balances
June 30 1909.
Fran¬
&
Capital Stock:
Other
Property, includ.
Stocks,
Bonds,
5527,908,894 28
Outstanding (Ex¬
$235,733,230 00
etc.,(Exhibit A).
Expenditures f r r
Additions
Balances
June 30 1910.
LIABILITIES.
$532,527,612 73
311,218,820 00
and
hibit D)
Funded Debt:
Bonds Outstand¬
$279,692,230 00
ing (Exhibit E).
302,004,952 71
Betterments .Con¬
struction
and
Other CapltalPurposes during Cur¬
rent Fiscal Year
4,618,718 45
(Exhibit B)
$532,527,612 73
30,526.732 63
Total
$563,054,345 36
Investments,
New
Acquisitions (Ex¬
7,288,123 86
7,136,313 41
hibit C)
Balance.
down
10,377,575 83
carried
8,265,261 52
$546,952,050 00
$581,697,182 71 $546,952,050 00
$8,435,534 38
Other Investments.
Material and Sup¬
10,979,159 03
plies
Prepaid
313,676 85
$7,136,313 41
Insurance
of New York:
Cash Deposit for
Fuel Reserve Fd
Accounts Receiva’le
Traffic Balances.
$1,496,531 15
1,016,915 80
Agents and Con¬
ductors
U. S. Governm’t.
Miscellaneous
6,013,719 79
Cash
$312,960 64
peka AS.Fe Ry.
$1,016,178 7*
716 21
Cherokee <fc Pitts.
Coal & M. Co..
737 06
$1,300,114 68
Equipment
181,617 45
7,248,039 95
887,643 35
1,489,373 91
95,388 41
19,456,563 04
30 036,504 $3
Time Deposits... $11 758,568 65
Check Deposits &
in Treasury
23 056,326 42
mon
Recon¬
2,854,345 00
32,984 25
1,614,237 09
Accrued Taxes not
yet Due.
Interest on Funded
Debt:
$3,700,731 24
Accrued, not due
Coupons not pre¬
*
678,365 00
sented
..........
4,379,096 24
i
$2,854,345 00'
28,606 00
2,882,950 00
1,856,292 23
$3,554,424 58
622,500 00(
Accounts Payable:
$3,107,502
3,119,555
1.266,055
1,468,696
49
32
24
75
446,029 34
918,866 45
482,815 19
Prefd.
on
Stock, payable
Aug. 1 1910
Unclaimed Dlvs.
2,887,329 25
#■'
,
Stock:
No. 24
34,814,895 07
6,363,722 34
struction Res've
Rail Renewal Res’e
Tie Renewal Res've
Dividends on Pre¬
ferred and Com¬
In Banks:
$10,579,941 79
1,016,915 80
Depre¬
ciation Reserve.
Equipment
Hand and
on
Reserve
for
Fuel
Lands:
The Atchison To¬
313,676 85
750,395 79
359,632 44
4,837,897 04
$8,265,261 52
serve
and
439,522 88
Capi¬
Bridge Renewal Re¬
120,327 96
Prepaid Rentals.
Guaranty Trust Co.
387,223 71
315,784 67
3,814,180 26
Balance from
tal Account
18,386,494 20
Premium
109,469 58
$581,697,182 71
$12,725,569 38
Pay Rolls
Audited Vouchers
Traffic Balances.
Miscellaneous
8,961,809 80
Appropriated
In¬
$3,544,621
7,256,158
1,271,839
2,636,315
4,176,924 58
07
85
82
67
14,708,935 41
come:
Expended
$4,000,000 00
l
5,000,000 00
§
for
Additions
and
Betterments z.i',
Reserve for fu¬
ture
Additions
& Betterments.
$13,280,920 75
9,000,000 00
Profit
18,821,250 74
$55,888,064 46
and
Loss:
Surplus
20,231,803 67
$55,888,064 46
$74,631,437 28
$74,631,437 28
We have examined the books and accounts of The Atchison
Topeka & Santa Fe Railway and System lines and certify that the above Balance Sheet and relative
are properly drawn up therefrom, and show the correct income of the
Company's System for the year and the true financial condi¬
We have been provided with satisfactory certificates from the Trustees as to the securities
pledged under the different mortgages, and
wejiave also verified the cash items.
5
•
£.
•'».*•
•••*?
iv
"
New Yerk, September 12 1910.
;
; j
;
/
PRICE, WATERHOUSE it 0Q., Auditors.
-.J
Income and Profit and Loss Accounts
tion at the dose of the year.
•
.
.
.
.
;
,
f
.
.
.
Oot. 8 1910.1
- .*
.
'V:
r
I.—Lines
THE CHRONICLE
1
'
953.
'Jo.
LOUISVILLE & NASHVILLE RAILROAD COMPANY.
FIFTY-NINTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDED JUNE 30 1910
I.—Lines
Brought Jorward
Bonds Matured—
Louisville, Ky., October 5 1910.
$668,000 $166,234,500
0clCdflcd"-Louisville 8s Nashville Sinking Fund Gold
Unredeemed (Not Presented for Payment)—
Louisville 8s Nashville Sinking Fund Gold
of the Louisville & Nashville RR. Company:
Board
Directors
of your Company respectfully
The
of
submits the following report for the fiscal year ended June 30
To the Stockholders
$1,797,009
123,009
$1,920,009
1910:
MILEAGE.
Lines Owned and
I.
190-2463857
$2,588,009
Operated.
Bonds Issued—
Unified 50-Year 4 % Gold
Atlanta Knoxville 8s Cincinnati Dlv. 4% Gold-.
Miles.
3,495.06
(1) Ownedj-_
(2) Operated but not Owned—
(a) Operated as owner of entire Capital Stock
(W Operated under lease
(c) Operated for account of owners
{d) Operated under trackage arrangements
535.03
118.97
221.88
219.61
$2,698,009
Net increase over last year-
1,095.49
Less—
Bonds Owned (see Table No. V):
Operated Under Their Separate Organiza¬
Company Owns a Majority of the
Capital Stock or is Interested as Joint Owner or Lessee.
In
tions in which this
Nashville Chattanooga & St. Louis Railway (a majority
of the Capital Stock owned)
Central Transfer Railway & Storage Co., Louisville (onehalf of the Capital Stock owned)
Georgia Railroad and Dependencies (Interested as joint
lessee)
—
Chicago Indianapolis & Louisville Railway (a majority
of the Capital Stock owned jointly with the Southern
Railway Co.)
Louisville Henderson & St. Louis Railway, less mileage of
Louisville 8s Nashville Railroad operated under trackage
arrangements (a majority of the Capital Stock owned) _ _
Woodstock & Blocton Railway (one-half of the Capital
Stock owned)
Treasury
$19,844,000
u
Deposited In Trusts as Collateral
Held in Sinking Funds.
7,079.000
794,000
27,717,000
Total Outstanding
June 30 1910.
Total Outstanding
June 30 1909
975.85
.67
571.00
Bonded Debt In hands of public,
.$127,627,500
l
Bonded Debt In hands of public,
______
Decrease in Bonds outstanding In hands of
public.
Accounted for as follows—
Bonds drawn for Sinking Fund, Including Re¬
deemed and Unredeemed Bonds
Bonds matured, including Redeemed and Unre¬
deemed Bonds
Bonds purchased and taken Into Treas’y $66,000
615.75
181.70
7.73
Bonds
purchased for Sinking Funds
1,920,009
49,000
Less—
Bonds withdrawn from Treasury and
canceled for Sinking Funds
$100,000
Bonds matured—
In Treasury
—$136,000
In Sinking Fund
166,000
7.73
50.41
58.14
-r—2,294.56
by this Company but Operated by
302,000
Companies.
Bonds sold—
Knoxville
Atlanta
Division 4% Gold
Chattanooga 8s St. Louis Ry. at 5% oh cost of
254.20
Road)
Less—Mileage used by this company under trackage
5.46
arrangements
———
Clarksville 8s Princeton Branch—Gracey, Ky., to Prince¬
ton, Ky. (leased to Ohio Valley Ry. Co. at $12,039 70
annum)
„
.
Cincinnati
150,000
552,099
269.30
—
The General
——
7,154.41
—7,002.37
-
$2,151,009
GENERAL RESULTS.
20.56
d
are
Results,
as
given in detail in Table No. 1,
here summarized.
Operating Revenues
Less Operating Expenses (66.72%)
152.04
Increase
Accounted for as follows:
Additions— '
Louisville 8s Atlantic Railroad
Madisonville Hartford 8s Eastern Railroad
8s
Decrease as shown above
248.74
.
Total mileage
Total mileage June 30 1909..
$52,433,381 94
34,985,578 79
Net Operating Revenues (33.28%)
104 .10
55.49
$17,447,803 16
Taxes
1,602,632 92
159.59
—
$16,845,170 84
Deductions—
7.55
Sundry net deductions
Other Income—
From Rents
From Investments
From Interest
From Outside Operations.
152.04
BONDED DEBT.
Bonded Debt June 30 1909, total issue
Bonds Drawn for Sinking Funds—
$155,234,500
—,
363,581 95
121,232 09
Total Income
—
$17,699,766 24
—
$6,088,919 09
407.392 07
Sinking Funds
266,240 17
6,762,551 24
$607,000
$10,937,215 00
South 8s North Alabama RR.
In above)
“
Company surplus (Included
523,958 93
Net Income carried to Profit and Loss Account
61,000
$10,413,256 07
The balance to credit of Profit and Loss Account amounts to $27,675,361.
s *
For details see Table No. II.
a -
$668,000
GROWTH OF TRAFFIC
growth of traffic for the past ten years is
shown by the following table:
1
Average
Years.
-
Operating
Operated.
Revenues.
3,169.27
3,326.75
$28,022,206 90
30,712,257 37
3,438.93
3,618.19
35,449,377
36.943,792
38,517,070
43,008,996
3.826.31
4,130.91
4.306.33
„
Operating
Expenses.
Miles
84
73
72
23
48,263,945 20
44,620,281 16
4,347.80
4,393.11
4,554.30
45,425,891 45
52,433,381 94
$18,233,033
20,902,437
23,970,812
25,141,548
26,490,020
30,933,463
35,781,302
*33,594,291
•29,627,499
•34,985,578
50
84
05
48
78
Net
Operating
Operating
Revenues.
Revenues
Per Mile.
$9,789,173 40
9,809,819 53
$8,841 84
11,478,565 40
11,802,244 46
12,027,049 75
12,075,532 52
12,482,642 68
11,025,990 11
15,798,391 97
17,447,803 16
.
i
i1
9,231
10,308
10,210
10,066
10,411
11,207
10,262
10,340
11,512
91
26
57 i
37
50
67
72
26
94
Operating
Expenses
Net
Operating P. C. o) Exp
to Operating
Revenues
Per Mile.
Per Mile.
$5,753 07
6,283 14
$3,088
2,948
3,337
3,261
3,143
6,970 43
6,948 65
6,923 12
7,488 29
8,309 00
7,726 73
6,744 08
7,681 88
6,631,06
65.07
68.06
67.62
68.05
68.77
71.92
74.14
76.29
65.22
66.72
Miles.
operated, except trackage rights,
—
Revenues.
Operating Expenses.
pounds per yard
pounds per yard
141 pounds per yard
1(748.98
11.69
.74
4,370.33
Iron Ralls
.
77
77
83
92
25
2,923 21
2,898 67
2,535 99
3,596 16
80
85
shown below:
pounds per yard._£jI...
pounds per yard
1
RAILS.
The rails in main track
Steel Rolls—
Under 58)4 pounds per yard
58 X pounds per yard. 60 to 65 pounds per yard- 1 -
j
44
27
97
71
54
•Does not Include Additions and Betterments heretofore Included In
788.336 99
Deductions from Income—
Interest on Bonded Debt..
Rents
---
Unredeemed (Not Presented for Payment)—
General Mortgage
—
$54,000
Evansville Henderson 8s Nashville
:——'
Division Gold
6,000
Henderson Bridge Co. 1st M. Gold—
1,000
63
79
$581,444 37
1,854,595 40
Evansville Henderson 8s Nashville
Division Gold
$69,000
General Mortgage Gold
420,000
Pensacola 8s Atlantic RR. 1st M. Gold 78,000
Pensacola Division 1st M. Gold
20,000
Louisville 8o Nashv111©Sink. Fd. Gold 20,000
are
$2,151,000
115,009
Paducah & Memphis Division (leased to Nashville
The
129,778,500
$2,703,099
Woodstock & Blocton Railway
Nashville Chattanooga & St. Louis Railway
Owned
i
$668,009
2,352.70
Less—Mileage used by this Company under trackage
arrangements:
per
110,000
Bonded Debt June 30 1910, total Issue (See Balance Sheet,
Table III)-..$165,344,500
4,590.55
Total operated
Average mileage operated during the year, 4,554.30.
other
$573,009
2,125,009
Miles.
152.65
&0U37
344.67
-1
—
79.22
1,431.01
.
Total
To which add—
Operated under trackage arrangements
.61
4,370.94
i.
219.61
Total mileage owned and operated (see above)
4,590.85
954
THE CHRONICLE
The rails in main track owned, operated
panies,
are
shown below:
Steel Ralls—
56 pounds per yard.
58 pounds per yard
60 pounds per yard
other
by
[VOL.
EQUIPMENT OWNED.
com-
Miles.
_
.
.
68 pounds per yard
80 pounds per yard
85 pounds per yard
A Nash¬
ville Railroad:
On hand July 1’09
Bought and built.
Acquired by pur¬
274.76
A N.
chase
roads
5.46
Total mileage operated by other companies (see above)
269.30
Real estate
40 97
Widening cuts and fills....
38,477 93
1,881 21
Protection of banks
Grade revisions and changes
of line..
Tunnel Improvement
Bridges, trestles and cul¬
verts
Increased weight of rail
Improved frogs A switches
Track fastenings and other
material
Ballast
Additional main tracks.
Miscellaneous structures...
9,268
9,180
395.037
127,026
55,265
15,967
...
Sidings and
spur tracks
yards
Fencing right of way
Improvement of over and
under grade crossings...
Terminal
70
88
08
34
30
85
12
1,421
217
42
81
598
-43,810
81
954
20
$41,474 84
14,701 31
On hand
33,421 07
30,638 17
10,339 75
47,085 77
878
South & North Ala¬
bama Railroad:
On hand July 1 ’09
590
50
On hand
1,035
115
42,775
1.429
50
247
3
50
244
RESERVE FOR ACCRUED DEPRECIATION-
EQUIPMENT.
Credits:
Depreciation—
Locomotives
>
30 1910 (seeTable VI).$1,890,462 33
Total for year end. June
30 1909
866,546 87
$385,996 92
67,754 30
1,295,529 61
Passenger Train Cars..
Freight Train Cars
Work Equipment
34,403 00
$1,783,683 83
251 41
Increase
$1,023,915 46
♦Renewals—
For twenty
BETTERMENTS—EQUIPMENT.
The following expenditures for additions and betterments,
equipment, were charged to Property Investment, Equip¬
ment, during the year:
(20)
Locomotives
destroyed
and sold...
For eight (8) Passenger Train Cars de¬
ADDITIONS AND
$15,029 87
stroyed
10,988 67
For nine hundred and fifty-four (954)
Freight Train Cars destroyed
For one hundred and sixteen (116) Work
Cars destroyed
*
Charges:
208,267 53
13,131 33
247,417 40
Locomotives—
Thirty-four (34) bought or built
Expenditures on new Locomotives not yet
completed
Equipping with self-cleaning ash pans
Passenger Train Cars—
Thirteen (13) bought or built
Equipping with steam-heating apparatus..
$428,709 71
'
thousand
one
hundred
10,806 44
27,241 36
$466,757 51
$76,424 71
7,431 66
and
twenty
(2,120) bought or built
$1,271,809
Expenditures on new cars not yet completed
2,075
Equipping tank cars with Improved unload¬
ing device
926
Equipping cars with air brakes
729
02
93
54
85
1,275,541 34
Work Equipment—
Eighty-one (81) Freight Train Cars changed
to Work Equipment
Equipping cars with air brakes
25,204 55
..$1,852,780 56
sold
Work Equipment—
One hundred and fifteen (115) destroyed
sold
20,61134
ment
35,391 70
805,790 27
36,367 09
$770,398 57
Depreciation—
Locomotives
Freight Train Cara
$29,666 75
8,943 59
-
$38,610 34
814,499 18
"Renewals
For three (3)
Additions and Betterments, Equipment,
$1,038,281 38
192,169 00
Total oharge for the year (Table VI)
SOUTH
$770,398 57
Balance to credit of Reserve for Accrued Depreciation—
Equipment June 30 1910
$14,605,255 68
SOUTH A NORTH ALABAMA RAILROAD COMPANY.
Credits:
new lines taken Into system this year
Charges:
36,367 09
508,398 46
credits
Acquired with
20,611 34
508,398 46
Depreciation on Freight Train
Cara changed to Work Equipment
44,100 61
Net charges to
for the year
$205,021 68
Accrued
or
•eight Train Cars—
Eighty-one (81) changed to Work Equip¬
Additions and
Passenger Train Cars
Freight Train Cars
Work Equipment
$205,021 68
Freight Train Cars—
Nine hundred and fifty-four (954) destroyed
Total
sold, credited to
Betterments—
Locomotives
ana
Locomotives—
Twenty (20) destroyed or sold..,
Passenger Train Cars—
Eight (8) destroyed or sold
Depreciation...$15,411,045 87
Charges:
For original cost of equipment destroyed
1,420 79
Totalcharges
3,845 19
This amount has been charged to
Operating Expenses
and to Outside Operations..
$2,034,946 39
Balance June 30 1909.
$720,224 59
Amount of entries made during this fiscal
year to adjust Reserve for Accrued De¬
preciation to June 30 1909—
Locomotives
$3,577,813 07
Passenger Train Cars
851,186 43
Freight Train Cars
7,938,462 66
Work Equipment288,412 73
12,655,874 89
13,376,099 48
Total Credits to Reserve for Accrued
853 83
Credits:
or
Depreciation on Dining and Special Cars—Dining Cars,
charged to Outside Operations
$24,350 72
Floating Equipment—
One (1) barge built.
’
Total charges to Operating Expenses for Depreciation
and Renewals
$2,031,101 23
‘
83,856 37
Two
1,544
115
247
Destroyed
Shops, engine houses and
198,634 44 Shop machinery and tools.
70,481 58 Water and fuel stations
5,051 48 Dock and wharf property..
15
41,473
2.120
other
Changed
Destroyed or sold.
paratus
30,720 99
Telegraph and telephone lines 53,369 96
506,039 35 Station buildings and fixtures 140,262 03
Cr. 834 02
Freight Cars. Equipment.
20
follows:
Track elevation, elimination
of grade crossings, &c...
Interlocking apparatus
Block and other signal ap¬
573
13
898
During the year there were charged to Property Invest¬
ment, Road, expenditures for additions and betterments as
$58,754 93
of
849
34
Changed
ADDITIONS AND BETTERMENTS—ROAD.
Right of way and station
grounds
Work
Cars.
Louisville
2.98
20.56
Less portion of Paducah A Memphis Division used by L.
Railroad under trackage arrangements
Passenger
Locomotives.
127.33
2.56
112.46
8.87
-
.
LXXXXI
A
•
Freight Train Cara destroyed.
This amount charged to
Balance June 30 1909
Operating Expenses
$40,185 99
39,206 12
.
$1,230,450 38
$79,392 11
NORTH ALABAMA RAILROAD COMPANY.
Charges:
For original cost of eqvipment destroyed
Locomotives—
Equipping with self-cleaning ash
$1,211 00
pans
Credits:
Freight Train Cars—
Three (3) destroyed
Railroad Company during the year.
The average cost per
by the South
&
l,979 16
Balance to credit of Reserve for Accrued Depreciation—
Equipment, South A North Alabama RR., June 30 1910
1,979 16
Net Credits for the year
There was no equipment acquired
*■
1,575 65
$768 16
North Alabama
$77,412 95
♦The difference between these credits and the amounts shown as Renewals
In Table IX la due to credits to Renewal Accounts for
salvage from locomo¬
tives and cars destroyed, and on account of charges to other
cars
destroyed
on
comapnles for
their lines.
MAINTENANCE OF EQUIPMENT
mile for repairs to equipment for the past ten years has been
follows:
as
1900-1901. 1901-1902. 1902-1903, 1903-1904. 1904-1905. 1905-1906. 1906-1907. 1907-1908.
1908-1909. 1909-1910.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents. ■
Locomotive repairs, per mile
Passenger Car repairs, per mile
Freight Car repairs, per mile
6.043
1.401
.712
6.226
1.429
.700
6.560
1.410
.800
6.962
1.267
.889
6.747
1.290
.820
9.102
1.646
.865
7.771
1.546
1.049
9.090
1.542
.918
8.092
1.190
.745
7.884
1.292
.739
All equipment of the
Company in revenue service is provided with both air brakes and automatic couplers, except freight
equipment, which is equipped complete with automatic couplers only. The number of freight cars
equipped with air brakes
is 42,450, or 98.68 per
cent.
The following table shows the
equipment on hand at the close of each of the past ten fiscal years:
LOUISVILLE A NASHVILLE RAILROAD AND OPERATED LINES.
1900-1901. 1901-1902. 1902-1903. 1903-1904. 1904-1905. 1905-1906. 1906-1907. 1907-1908.
1908-1909. 1909-1910.
Locomotives
Passenger Cars
Freight Cara.
Work Equipment..'
_
563
456
.
589
462
23,663
24,880
534
586
!
1
605
676
705
471
!
501
28.118
i
705
30,905
s
779
515
33,241
1,149
,
745
535
865
559
896
36,633
1,289
39,528
40,589
1,452
1,503
;
572
899
573
928
590
41,720
1,421
43,019
1,429
Oct. 8 1910.
THE CHRONICLE
PAYMENTS TO BE MADE ON ACCOUNT OF SINKING
.
FUNDS, 1910-1911.
Newport & Cincinnati Bridge Co
Henderson Bridge Co
July 1 1910._ >14,000
-Aug. 1 1910.,
8,400
21,000
Sept. 1 1910._
-
Pensacola Division.
Evansville Henderson & Nashville Division..
Pensacola & Atlantic Railroad
General Mortgage
Dec. 1 1910..
*
121,000
^..Feb. 1 1911..
90,200
June 1 1911.. 550,000
...>804,600
Total
GUARANTIES.
The
Company has guaranteed, by indorsement
or
by
agree¬
ment, the following obligations of other Companies:
Issued.
South
&
North
Alabama RR. Co. Consolidated
Annual Ch’ge.
*
principal and Interest
Terminal Co. First Mort¬
>10,000,000 >500,000 00
gage 4% Gold Bonds—
Endorsement, made Jointly and severally with
Nashville Chattanooga & St. Louis Railway,
covers
principal and Interest of bonds Issued..
2,535,000
Louisville & Nashville-Sou them, Monon Collateral,
Joint 4% Gold Bonds—
This Company and the Southern Ry. Co. are
each liable for one-half of the principal and in¬
terest of bonds Issued,
>11,827,000.
One
101,400 0
bility, one-half. Should either Company de¬
fault In Its obligations to the other, In respect
Company not In default, which thenceforth
shall be liable In severalty upon all covenants
5,913,500
>3,553,750
Secured by deposit of >2,000,000 First Mortgage
4 % 50- Year Gold Bonds of the Memphis Unlon
Station Co.
Endorsement, made Jointly and severally with
Nashville Chattanooga & St. Louis Ry.,
Southern Ry. Co., St. Louis Iron Mountain &
Southern Ry. Co. and St. Louis Southwestern
Ry. Co.,
covers
notes and bonds
236,540 00
266,531 25
Terminal Railroad Association of St. Louis—
One-fourteenth of Interest on >19,994,000 Gen¬
eral Mortgage 4% Gold Bonds now outstand¬
ing—one year’s Interest, >799,760; L. & N.
RR. Co.’s proportion, one-fourteenth
Georgia Railroad Lease—
The Company Is liable jointly with the Atlantic
Coast Line Railroad Co. for the yearly rent,
under the lease of the Georgia Railroad,
amounting to >600,000. This Company's lia¬
bility, per annum
Memphis Union Station Company—
5% Collateral Gold Notes due Nov. 1 1911
On March 1 1907 $6,500,000 of these notes were issued
which matured March 1 1910.
Prior to that date, notes were
purchased and canceled amounting to $2,793,000, leaving
outstanding at the date of maturity $3,707,0C0, which have
all been redeemed with the exception of $21,000.
These bonds
shares
In de¬
of the
contained In the bonds
Nashville & Decatur Railroad, Rent Dividend—
Under lease of this property the payment of
7H% annual dividend to stockholders Is guar¬
anteed as rent.
Amount of Capital Stock
REDEMPTION OF LOUISVILLE & NASHVILLE RAILROAD COM¬
PANY THREE-YEAR FIVE PER CENT GOLD NOTES.
REDEMPTION OF LOUISVILLE & NASHVILLE RAILROAD COM¬
PANY SIX PER CENT SINKING FUND BONDS.
year’s interest, >473,080; this Company’s lia¬
of the bonds of this Issue, the pledged
of stock belonging to such Company so
fault shall become and be the property
(except the* franchise to exist as a
corporation) of that Company were conveyed to the Louis¬
ville & Nashville Railroad Company, and the
operations
since November 1 1909 and mileage, are included in this
report. Shortly after deed was executed, suit was brought
in the Franklin County, Ky., Circuit Court to have the
acquisition of the Frankfort & Cincinnati Railway by the
Louisville & Nashville Railroad Cbmpanv declared unlawful
as contrary to the Constitution of
Kentucky. Under an
order issued by the Court the accounts of the Frankfort &
Cincinnati Railway Company are being kept in such manner
that a proper accounting maybe had if required. The suit is
still pending.
r
<•
.
Mortgage 5% Gold Bonds—
Endorsement covers
Louisville & Nashville
immunities and franchises
57,125 71
were issued on April 1 1880 and matured on
April 1 1910, all of which have been redeemed with the excep¬
tion of $123,000, for which cash has been deposited with the
Union Trust Company of New York, Trustee.
The collateral security, owned by this
Company and held
under this Trust Deed, consisting of $2,000,000 Second
Mortgage Bonds of the South & North Alabama Railroad
Company, which matured on the same date as the above
Six Per Cent Sinking Fund Bonds, has been surrendered to
the South & North Alabama Railroad Company, this Com¬
pany receiving in payment therefor South & North Alabama
Railroad Company Five Per Cent Consolidated
Mortgage
Bonds.
NEW FORM OF GENERAL BALANCE SHEET.
300,000 00
1,500,000
75,000 00
Effective June 15 1910, the Inter-State Commerce Com¬
mission prescribed a form of general balance sheet statement
which is used in this report.
In many respects the require¬
ments of the Commission as to the classification of the
accounts are at variance with the accounting methods here¬
tofore used by this Company.
This will, therefore, render
impracticable the comparison of items
those of previous years.
principal and Interest of the
made
balance
sheet
issued.
Attention is called to the report of the
issued for the creation of Union Passenger details of the
year’s business.
Station facilities at Memphis, Tenn., aggregating $1,200,000/
The
on
with
notes
jointly with various roads entering Memphis,
men¬
tioned in last year’s report, have been paid by the interested
lines.
This Company’s proportion amounted to $122,400.
The
which
served
For
Board acknowledges the fidelity and
the officers and employees of the
its interests.
the Board of Directors,
H.
REDUCTION OF GRADES, NASHVILLE TO HENDERSON.
WALTERS.
M. H.
The revision of line from
Madison, Tenn., on the Main
on the Henderson Division,
which was mentioned in last year’s report, and which pro¬
vides a 0.6 per cent compensated grade, as against 1)4 per
cent grade on the existing line, is nearly complete.
It is
expected that the line will be put in operation about the first
of September 1910.
The distance from St. Louis via the
Comptroller for the
efficiency with
Company have
Chairman.
SMITH, President.
Stem, to Goodletts, Tenn.,
revised line will be shortened 0.47 of a mile.
Construction has been undertaken for the cmopletion of
the reduction of grades on the Henderson Division by con¬
structing a new roadway between Guthrie, Ky., and Hender¬
son, Ky., partly on the present right of way and partly on
routes diverging from the present right of way.
The total
distance from Guthrie to Robards is 85.1 miles, over 79.2
per cent of which the work is being done.
The maximum
grade will be 0.6 per cent compensated, and the maximum
curve 4 degrees.
LOUISVILLE & ATLANTIC RAILROAD.
As mentioned in last vear’s report, the entire capital stock
and all of the bonds of the Louisville & Atlantic Railroad
HASKINS & SELLS,
PUBLIC ACCOUNTANTS.
80 Broad Street, New York.
New York,
September 28 1910.
Henry Walters, Esq., Chairman of the Board Louisville A
Nashville Railroad Company, 71
Broadway, New York.
We have examined the books and accounts of the Louis¬
ville & Nashville Railroad Company for the fiscal
year ended
June 30 1910, have verified all cash and
security balances by
by comparison with receipts and certificates of
deposit, and have examined carefully all details of revenues
and expeneses and all charges to capital
accounts, and
We hereby certify that the
accompanying General Balance
count
Sheet and statements of Income and Profit and Loss
MADISONVILLE HARTFORD & EASTERN RAILROAD.
Ky., through Hopkins, Muhlenberg and Ohio counties,
Kentucky, in a northeasterly direction to a connection with
the Louisville Henderson & St. Louis Railway,
near Fordsville, Ky., providing a short line from coal fields and rich
agricultural districts of Western Kentucky to Louisville.
This Company has advanced on account of construction of
this road $1,627,698 11, for which bonds of the Madisonville
Hartford & Eastern Railroad Company will be received.
The track-laying was completed and the line placed in opera¬
tion on January 4 1910.
FRANKFORT & CINCINNATI
RAILWAY.
This Company owns all the capital stock of the Frankfort
& Cincinnati Railway 'Company and, by deed dated October
28 1909>‘ the legal title to the properties, rights, privileges,
are
HASKINS * SELLS,
Certified Public Accountants.
REPORT OF THE COMPTROLLER.
to the
This Company owns all of the capital stock of the Madisonville Hartford & Eastern Railroad Company, which has con¬
structed a railroad 55.49 miles in length, extending from a
connection with the Morganfield Branch, near
Madisonville,
or
correct, and truthfully set forth, respectively, the financial
condition June 30 1910 and the results from the
operation for
the period shown.
Company
were acquired by this Company.
The legal title
property rights, privileges, immunities, powers and
franchises have been conveyed to the Louisville & Nashville
Railroad Company by deed dated November 1 1909, and the
road is now operated as a part of the system.
'
CERTIFIED
ACCOUNTING DEPARTMENT, LOUISVILLE A NASHVILLE RR. CO.
Louisville, Ky., September 28 1910.
Mr. M. H. Smith, President:
Dear Sir—I submit herewith statements
showing the
financial condition of the Company, and the results from
operation for the
following tables:
No.
No.
No.
No.
year
ended June 30 1910,
as
set forth in the
I.—Income Account.
II—Profit and Loss Account.
111.—General Balance Sheet.
IV.—Bonded Debt and Estimated Interest Charges
for 1910-1911.
No.
No.
No.
V.—Securities Owned by the Company.
VI.—Property Investment, Road and Equipment.
VII.—Operating Revenues, Operating Expenses, and
Net, by Months.
Operating Revenues,
.
No. VIII.—Total
penses
No.
No.
and Net.
.
Operating Ex¬
i
IX.—Operating Expenses, in Detail.
£Lj
X.—Passenger and Freight Statistics.
g§
Very respectfully, •• ;
CHARLES HAYDON,
Comptroller
9m
THE CHRONICLE
TABLE NO. I.—INCOME ACCOUNT.
Operating Income—
forward
Brought
Securities:
Operating Revenues—
Revenue from transportation
$52,076,740 93
Revenue from operations other than
transportation
356,641 01
operating
$52,433,381 94
revenues
Operating Expenses—
Maintenance of way and structures
Maintenance of equipment
__
Traffic expenses
Transportation
expenses..
General expenses
:
Net operating revenues (33.28%)
Outside operations—
Revenues j.
1
$425,310 53
304,078 44
121,232 09
Total net
Taxes
Operating income
$15,966,402 93
sources
Securities—Unpledged
$3,617,276
Chicago Indianapolis & Louisville Ry.
$236,830 12
394,768 00
12,000 00
64,000 00
or
Assumed—Held in
Temporary Advances
19,844,000 00
6,961,389 47
2,811,388 68
388,240 76
1,018,474
4,195,896
4,856,077
151,916
to
$17,699,766 24
_
Interest on bonded debt.
$6,088,919 00
Rents paid for lease of roads—
Guaranteed dividend on
Nashville & Decatur RR.
stock
■
$118,061 25
Rents of other roads
31,23134
149,292 59
Rents for tracks, yards and other facili¬
ties (net)
258,099 48
35,723 25
$1,742,210 67
Special Deposits
$505,350 00
Cash and Securities In Sinking and Re¬
demption Funds—
Company Bonds (Table V)
Cash, &c
$794,000 00
200,759 73
$6,482,712 77
9,725,033 17
CONTINGENT ASSETS:
South & Nox-th Alabama RR. Co. 5%
Consolidated Gold Bonds outstanding,
endorsed by Louisv. & Nashv. RR.Co.
Bills Payable endorsed by Louisville &
Nashville RR. Co
L. & N. Terminal Co. 50-year 4% Gold
Bonds outstanding, endorsed by Louis¬
ville & Nashville RR. Co. and Nashville
Chattanooga & St. Louis Ry
Memphis Union Station Co. 5% Collateral
Gold Notes guaranteed by the Louls«
ville & Nashville RR. Co. and other
Interested Railroad Companies
$134,200 00
sinking funds
136,773 92
$994,759 73
Sinking Fund Charges—
__
49,340,853 29
$1,706,487 42
Other Deferred Debit Items
$6,496,311 07
Direct payments for which no bonds are
received
Accrued premiums on bonds drawn for
53
74
91
67
Proprietary,
Affiliated and Controlled Companies
Working Funds
__i
1,733,363 31
Charges against Income—
$9,113,468
59
19,555,432 04
Cash
$363,581 95
From which Deduct—
19
Advances—
$788,336 99
Interest from Various Sources (net).
$15,938,155
WORKING ASSETS:
ACCRUED INCOME NOT DUE:
Unmatured Interest, Dividends and Rents Receivable
DEFERRED DEBIT ITEMS:
17,437 50
63,301 37
Sundry Bonds and Stocks.
85
$2,064,886 45
11,361,577 37
2,511,691 37
(Table V)__
(Table V)
Loans and Bills Receivable
Traffic and Car Service Balances Dufe
from Other Companies
Net Balance Due from Agents and Con¬
ductors
Miscellaneous Accounts Receivable
Materials and Supplies
Other Working Assets
$581,444 37
Accrued interest on
in sinking funds
$11,434,319 38
Affiliated and
Controlled Companies for Construction,
Equipment and Betterments
Miscellaneous Investments—
Physical Property.
Securities—Pledged (Table V)
Treasury—Funded Debt (Table V)
Marketable
Securities—Funded
Debt
Income from Investments—
Stock
Nashville Chattanooga & St. Louis Ry.
Stock
Charleston Terminal Company Bonds.
Louisville Property Company Bond
Wholesale Merchants’ Warehouse Co.
Bonds
90
725,000 00
Other Investments:
Advances to Proprietary,
Securities Issued
70
20
02
45
$12,039
206,506
290,928
71,970
Memphis Division
Equipment
Various
$2,179,525
1,602,632 32
Income from Rents—
Clarksville & Princeton Branch
Paducah &
$7,079,000 00
$17,569,035 25
revenues
48
$2,904,525 90
34,985,578 78
Surplus.
$250,793 48
1,200,000 00
l/iooiooo
$1,450,793
Assumed—Pledged-
Stocks (Table V)
Funded Debt (Table V)
17,447,803 16
Expenses
or
Funded Debt...
Securities of Prorpietary, Affiliated and
Controlled Companies—Unpledged—
$8,172,166 25
8,559,104 33
1,120,515 75
16,030,238 20
1,103,554 25
Total operating expenses (66.72%)
Securities Issued
58,350 00
Company’s bonds
73,690 17
$266,240 17
$7,292,000 00
7,000 00
2,500,000 00
1,500,000 00
11,299,000 00
6,762,551 24
South & North Alabama RR. Co. surplus for year in¬
cluded In above
____
T__
523,958 93
_.$10,413,256 07
TABLE NO. n.—PROFIT AND LOSS ACCOUNT.
CREDITS.
Balance to credit of this account June 30 1909 $23,431,527 08
Sinking Fund Payments for which no bonds
are to be received, charged to Income Acc’t
134,200 00
Interest accrued on Company’s Bonds in Sink¬
ing Funds
Income from
DEBITS.
For Cash Dividend 3M%. payable Feb. 10 ’10 $2,100,000 00
For Cash Dividend 3 H%, payable Aug. 10 ’10
2,100,000 00
Adjustment of Reserve for Accrued Deprecia¬
__•
___:_
Appropriated surplus—amount
invested in Sinking and Re¬
demption Funds
__.
$155,344,500 00
Plain Bonds, Debentures and Notes
Miscellaneous credits
Net surplus from operation for year ended
June30 1910, transferred from Income Acc’t 10,413,256 07
-$34,340,491 77
tion, Equipment
30,057 00
155.374,557 00
WORKING LIABILITIES:
Traffic and Car Service Balances Due to
Other Companies
Audited Vouchers and Wages Uapald
Miscellaneous Accounts Payable
Matured Interest, Dividends and Rents
$305,734 37
3,936,026 40
118,503 26
Unpaid
1,804,598 83
Matured Mortgage, Bonded and Secured
Debt Unpaid (Table IV)
Other Working Liabilities
231,100 00
72,316 44
6.468,279 30
ACCRUED LIABILITIES NOT DUE:
Unmatured
Interest,
Dividends
and
2,318,502 54
Rents Payable
Taxes Accrued
107,251 39
39,376 84
$2,823,087 49
681,194 92
3,504,282 41
DEFERRED CREDIT ITEMS:
Operating Reserves
$212,566 97
Balance to credit of Profit and
Loss Account June 30 1910
.27,462,794 03
$843,123 91
—
Other Deferred Credit Items
5,153,815 98
—
5.996.938 89
_
27,675,361 00
$34,340,491 77
PROPERTY INVESTMENT:
Road and Equipment:
Investment to June 30 1907—
Road...
ASSETS.
Equipment
Road
Equipment
$139,471,007 11
36,072,004 83
Investment since June 30 1907—
.___
$175,543,011 94
$8,624,610 39
3,330,141 88
$11,954,752 27
(Table VI)..
$187,497,764 21
Reserve for Accrued Depreciation—Credit—
Way and Structures, &c
$1,765,331 13
Equipment
14,605,255 60
16,370,586 73
___
$171,127,177
APPROPRIATED SURPLUS:
Additions to Property since June 30 1907,
through Income
$2,300,170 68
Reserves from Income or Surplus—
Invested in Sinking and Redemption
Funds
TABLE NO. Ill—GENERAL BALANCE SHEET.
DR.
$60,000,000 00
Mortgage and Collateral Trust Bonds (Table IV):
Owned by Company
_•
$27,717,000 00
Outstanding in Hands of Public
127,627,500 00
203,331 34
65,827 46
Amount due Georgia RR. on account of At¬
lanta Joint Terminals
Miscellaneous debits
Cr.
Funded nebt:—
$66,203 00
137,128 34
operation
LIABILITIES.
STOCK:
Capital Stock—
Common Stock—
Full shares outstanding
$59,916,600 00
Fractional shares outstanding
720 09
Original stock and subsequent stock
dividends unissued
82,680 00
MORTGAGE, BONDED AND SECURED DEBT:
73,690 17
18,659 65
Sale of property at various points
Georgia Railroad lease:
Income from securities
$272,618,589 28
$10,937,215 00
Net Income transferred to the credit of Profit and Loss
Account
LXXXXI.
$171,127,177 48
Securities of Proprietary, Affiliated and
Controlled Companies—Pledged—
Stocks (Table V)
Funded Debt (Table V)__
Rail Operations—
Total
.
48
212,566 97
2,512,737 65
PROFIT AND LOSS:
Balance
CORTINGENT LIABILITIES:
South & North Alabama RR. Co. 5%
Consolidated Gold Bonds outstanding,
endorsed by Louisville & Nashville
Railroad Co
Bills Payable endorsed by Louisville &
Nashville Railroad Co
L. & N. Terminal Co. 50-year 4% Gold
Bonds outstanding, endorsed by Louis¬
ville & Nashville RR. Co. ana Nash¬
ville Chattanooga & St. Louis Ry—
_
27,462,794 03
$7,292,000 06
7,000 0#
2,500,000 Of
.
Memphis Union Station Co. 5% Collateral
Gold Notes guaranteed by the Louis¬
ville & Nashville RR. Cq. and other In¬
terested RR. Companies.
•
1,503/00 06
11,299,000 00
$272^13,589 28
Oqqr, 81910.
THE CHRONICLE
957
TABLE NO. IV.—BONDED DEBT LOUISVILLE & NASHVILLE RAILROAD CO. AND SUBSIDIARY LINES, AND
ESTIMATED INTEREST CHARGES FOR YEAR 1910-1911
r
\
**
•
(Including also Guaranteed Dividend on Stock. Nashville & Decatur Railroad.)
Authorized.
MORTGAGES ON RAILROADS.
Issued.
Redeemed
Or Drawn
Jor Pay¬
ment.
Yellow River RR„ 1st Mtg
— ----
Dlv., 1st M., Gold
Pensacola Division, First Mtg., Gold
Southeast & St. Louis Dlv., 1st M., Gold..
Pens. & Atlantic RR., 1st Mtg., Gold
New Orleans & Mobile Dlv., 1st M., Gold.
New Orleans & Mobile Dlv., 2d M., Gold..
General Mortgage, Gold
The Gallatin & Scottsvllle Ry., 1st M.,Gold
Henderson Bridge Co., 1st Mtg., Gold
Lou. Cln. & Lex. Ry., Gen’l Mtg., Gold
First Mortgage, fifty-year. Gold.
Nash. Flor. & Shef’d Ry., 1st Mtg., Gold..
Birmingham Min. RR., 1st Mtg., Gold —
Alabama Mineral RR., 1st Mtg., Gold
Unified, fifty-year. Gold
Newp. & Cln. Bridge Co., Gen’l Mtg., Gold
L. & N. and M. & M. Ry., 1st Mtg., Gold.
L. & N., Pad. & Mem. Dlv., 1st M., Gold.
Atlanta Knox. & Nor. Ry., 1st M., Gold..
Atlanta Knox. & Cln. Division, Gold
'Southeast & St. Louis Dlv., 2d M., Gold
Kentucky Central Ry., 1st Mtg., Gold
Evans. Hend. & Nashv.
—
—
Atl. Knox. & Nor.
Ry.,|lst Cons. M., Gold
$
150,000
2,400,000
600,000
3,500,000
3,000,000
5,000,000
1,000,000
20,000,000
500,000
2,000,000
7,000,000
3,500,000
2,500,000
5,000,000
3,150,000
75,000,000
1,500,000
5,000,000
5,000,000
1,500,000
50,000,000
3,000,000
7,000,000
2,280,000
$
150,000
2,400,000
600,000
3,500,000
3,000,000
5,000,000
1,000,000
12,597,000
309,000
2,000,000
3,258,000
1,764,000'
2,096,000
3,929,0001
3,150,0001
62,848,000!
1,400,0001
$
10,000
1,100,000
275,000
‘
Estimated
Owned by
Outstanding
L. & N. RR. in Hands oj
Public.
Company.
$
140,000
■
"7,666
"
958,666
19,666
6,000
6,860,000
V.666
24,000
309,000
766,000
i'5',606
17,000
4,000,000j
4,836,000!
1,000,0001
100,000
3,929,000
3,150,000
4,958,000
217,000
1,000
13,582,000
2,000
37,000
23,827,000;
3,000,000;
6,742,000
1,280,0001
780,000
209,580,000 153,686,000
10,001,000
1,300,000
318,000
3,500,000
2,023,000
4,994,000
1,000,000
5,713,000
Inter¬
est.
Maturity.
Interest
Coupons Due.
Charges Jor
Yr.1910-11.
%
Jan.
Dec.
Mch.
Mch. 1
Aug.
Jan.
Jan. 1
June
July
1,233,000 Sept.
3,258,000 Nov.
1,749,000 May
1,996,000 Aug.
Nov.
July
57,873,000 July
1,400,000 July
4,000,000 Sept.
4,619,000 Feb.
999,000 Dec.
10,245,000 May
2,998,000 Mch.
6,705,000 July
500,000 Mch.
1
1
1
1
1
1
1919
1919
1920
1921
1921
1930
1930
1930
1931
1931
1931
1937
1937
1937
1940
1940
1945
1945
1946
1946
1955
1980
1987
2002
Jan. 1, July 1
June 1, Dec. 1
Mch. 1, Sept. 1
4
6
6
6
6
6
6
6
4
6
Mch.
Feb.
Jan.
Jan.
June
Jan.
Mch.
4H
May
May
5
5
5
4
4
Feb.
May
Jan.
Jan.
4K Jan.
4H Mch.
Feb.
4
5
4
3
4
4
June
May
Mch.
Jan.
Mch.
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
Sept.
Aug.
July
July
Dec.
July
Sept.
Nov.
Nov.
Aug.
Nov.
July
July
July
Sept.
Aug.
1
1
1
1
1
1
1
1
1
Dec.
Nov.
Sept.
July
Sept.
1
1
1
l1
1
1
1
1
1
1
1
1
27,262.000 116,423,000
Property, 20-year 1st M., Gold..
650,000
617,000
617,000 Mch. 1 1916
5
Collateral Trust Bonds.
First Mortgage Trust, Gold
*L. & N.-Sou., Monon Collateral
7,000,000
5,129,000
424,000
7,750,000
5,913,500
31,000
14,750,000
11,042,500
455,000
Total Interest-Bearing Bonded Debt.
L. & N.RR.Co
Bonds Outstanding, Matured or Drawn
224,980,000 165,345,500
10,001,000
May 1, Nov. 1
Jan.
1 1952
1, July
470,550
27,717,000 127,627,500
5,608,630
1867
2,000
4,000 Jan. 1 1890
1,000 Oct. 15 1893
2,000 Jan. 1 1897
1
—
100 Oct.
1 1907
1,000 Sept. 1 1909
6,000 Dec. 1 1909
5,000 June 1 1909
54,000 June 1 1910
12,000 April 1 1909
123.000 April 1 1910
21,000 Mch. 1 1910
—
—
—
—
■!
231,100
8,000 July
1 1900
Railroads Operated, Controlled
500,000
2,000,000
500,000
225,000
1,200,000
500,000
225,000
1,200,000
500,000
3,000,000
1,925,000
1,925,000
10,000,000
2,000,000
10,000,000
1,920,000
12,000,000
b Louisville & Nash. Terminal Co., lstM.,G.
Stock on which Dividend is Guaranteed.
3,000,000
Nashville & Decatur Railroad
3,553,750
Morganfleld & Atlanta RR
on Railroad not Owned but
ated by L. & N. Railroad,
Mortgages
South & North Alabama RR., Cons..Gold
South & North Alabama RR., Imp., Gold
on Property not Owned but
ated by L. & N. Railroad,
Mortgage
July
1 1930
Nov. 1 1931
Jan.
June 1 1932
4
6
4
1, July 1
1, Nov. 1
June 1, Dec. 1
2,708,000
1,920,000
7,292,000 Aug. 1 1936
Aug. 1 1936
5
5
Feb.
Feb.
11,920,000
4,628.000
7,292,000
2,535,000
35.000
2,500,000 Dec. 1 1952
4
1,979,600
}Guarant’d\
1;574,150 1 by L.&N.j
7H Jan.
May
Oper¬
a
1, Aug. 1
1, Aug. 1
3,553,750
364,600
June 1, Dec. 1
1, July
a
Principal and
1
100,000
118,061
6,191,291
the outstanding bonds of this Issue, there are $1,489,000 which
payable quarterly, on January 1, April 1, July 1 and October 1.
L. & N. proportion of
and the Interest thereon Is
364,600
Oper¬
Total estimated interest charges 1910-11
the
235,300
1
Jot
Through Ownership oj Capital Stock.
Bay Mlnette & Ft. Morgan RR. 1st M.,Gold
Owensboro & Nashville Ry., 1st M., Gold.
Of
268,200
20,000
10,587,500
Total Bonds due and unpaid, L. & N. RR
Bonds oj Subsidiary Company Outstanding,
Matured, not Presented.
Nashville & Decatur RR., First Mtg
*
409,800
89,940
235,250
5
4
■City of Louisville. Lebanon Branch Ext’n.
Lou. Cln. & Lex. Ry., First Mtg
Lou. Cln. & Lex. Ry., Second Mtg
Henderson Bridge Co., First Mtg., Gold—
Evans. Hend. & Nashv. Dlv., 1st M., Gold
•General Mortgage, Gold
General Mortgage. Gold
Five-Twenty Collateral Trust “1903” Issue
Lou. & Nash. Sinking Fund, Gold
Three-year 5 per cent Gold Notes
on
2,314,920
63,000
180,000
184,760
49,950
30,850
5,882,500 July
Sinking Funds, Not Presented.
Alabama & Florida RR. (old Co.), First M
Mobile & Montgomery Ry., Income Bonds
Mortgages
71,386
146,610
87,450
99,800
Mch. 1, Sept. 1
4,705,000 Nov. 1 1931
Joint,
Gold, L. & N. Proportion, one-half
340,280
"
5,107,230
Real Estate Mortgage.
St. Louis
74,150
18,080
210,000
119,330
299,580
60,000
were
registered
as to
both principal and interest,
Interest guaranteed by Louisville & Nashville Railroad Company.
property Is operated jointly by this Company and the Nashville Chattanooga & St. Louis Railway, the principal and interest being jointly
uaranteed by the two railroad companies.
b This
TABLE NO. V.—See next page.
TABLE NO. VI.—PROPERTY INVESTMENT, ROAD AND EQUIPMENT.
Road and Equipment June 30 1909 was—
Road
3141,730,282 42
27,573,919 06
Equipment
To which add the following:
Road—
Additions to Property since June 30 1907 through Income
Atlanta Knoxville & Northern Railway—Construction Account
New Line, Mortons to Atkinson, Ky
$169,304,201 48
s.
L
$2,300,170 68
1
■
118,470 26
136,577 48
78,755 24
Straight Creek Branch
Louisville & Atlantic Railroad
1,778,452 68
St. Louis Property and Improvements
240,634 70
Additions and Betterments (see a previous page)
$1,890,462 33
Included
North
Elkton
Less—Amounts
In above account of South &
Alabama and
&
Guthrie Railroads
"
”
588,226 40
Sundry Other Charges
2 302 235 93
-
425,458 42
J
$6,380,755 39
*.
Less—
Sundry Credits
15,420 31
6,365,335 08
1
Equipment—
,
L
r
*
Adjustment of Equipment Values, etc—
Equipment completed prior to July 1 1909 not heretofore charged to Road and Equipment
W) Bought, built or otherwise acquired during year (see a previous page)
$10,337,372 35
260,404 92
^
r
...
li*j
l,230,450 38
11,828,227 65
—
ritajP-* Total, as per Table No. Ill—
*•
S
Road.
fiSl.b
-
$148,095,617 56
---^
—.
Eg V Equipment
-
$18,103,562 73
i
39,402,146 71
$167,497,764 21
958
THE CHRONICLE
IVOb.
LXXXXI
TABLE NO. V.—SECURITIES OWNED.
Pledged.
In Treasury.
Sinking and Redemption Funds.
Isue. ■ Isue. *CTCernuotrsat.CfUolonatie¬rrFfty-YearGBoonldds. FaLrmAes' nCColaot¬.5fFoi%rsrtMTortguasetBonds. Pledg. SDpFaermeepsc'oiaslitATCCroul¬s.tGfReoairgrLeas. FarLmAeso'anCTruoste.,M.AT.Mortgaes. CTCernutorsalt.,TLANruste.-. M4Yt%.Bonds. SBAmuithtelersr,SvingTuseSAouStheta.sL.Mtges. CCTernutorasl.t,TrusteHndoBCFridiorgse.tMortgae. SinakndgRFedumpt'ns.
BONDS.
NA.
Louisville A Nashville Issues—
Yellow River RR., 1st Mtg., 4%
!
Trust eral Gold
fied 4%
Other
L.
Loan lateral road Trust NO..
Total
s
140,000
..
$
$
$
$
Subsidiary Companies.
Bay Min. & Ft. M. RR., 1st M., 4% G_
Morganfteld & Atl. RR., 1st Mtg., 4%.
Owensboro & Nash. Ry., 1st Mtg., 6%.
South & North Ala. RR., 5% Con.M.,G.
Monroe Railroad, 1st Mortgage, 4%
Muhlenberg Co., Ky., 5% Refunding.
Nash. Chatta. & St. Louis Ry. Issues._
National Coal & Iron Co.,5%
South & North Ala. RR.,5% Con.M.,G.
South & North Ala. RR., Imp., 5% G_
Southern Iron & Steel Co. Issues
Sloss Iron & Steel Co., 1st Mtg., 6%
Wholesale Merchants’ Wareh. Co., 5%.
Sundry other Bonds and Scrip
$
,
766,000 766,000
3,929,000 3,929,000
3,150,000
3,150,000
4,000
15,000
15,000
2,000
1,000
2,000
5,000
_
.
—
6,000
3,150,000 3,929,000 7,079,000
Balance Sheet)
6,000
4.000
18,000 766,000 794,000 27,717.000
500,000
225,000
500,000
1,200,000
500,000
1,200,000 1,200,000 500,000
2,425,000
•"
85,250
300,000
10,000
100,000
22,300
35,000
1,600,000
34,000
20,000
65,000
62,000
2,208,000
1,920,000
96,678
43,000
398,000
15,930
85,250
300,000
10,000
100,000
22,300
35,000
1,600,000
34.000
20,000
65,000
62,000
2,208,000
1,920,000
96,678
43,000
398,000
15,930
0
7,015,159
6.961,389
6.961,389
Grand Total Bonds
19,844,000 7,740,159 3,150,000 5,129,000 8,279,000 500,000
For Stocks held by Central Trust Co., Trustee under Unified
Mortgage, see table below.
In
Treasury.
Proprietary
Owned
and Controlled
as
Companies.
Investment.
„
Cincinnati Inter-Terminal RR. Co., Pref..
Colossal Cavern Co
Elk ton & Guthrie Railroad.
Gulf Transit Co
Kentucky Public Elevator Co., Common.
Louisville & Nashville Terminal Co
Loulsv. Hend. & St. Louis Ry., Preferred
Loulsv. Hend. & St. Louis Ry., Common
Lexington Terminal Railroad (of Georgia)
Lexington Union Station Co., Preferred...
Lexington Union Station Co., Common._
Milledgevllle Ry
Missouri & Illinois Bridge & Belt Railroad.
Monroe Railroad
Nashville & Decatur Railroad
Nashville Chattanooga & St. Louis Ry__
Owensboro & Nashville Railway
Republic Iron & Steel Co., Preferred
Republic Iron & Steel Co., Common
South & North Alabama Railroad, Preferred
South & North Alabama Railroad, Common
Southern Iron & Steel Co., Preferred
Terminal Railroad Association of St. Louis.
Woodstock & Blocton Railway
Walsoto & Black Mountain Railroad
Sundry stocks, roads operated as part of the
L. & N. System (nominal values)
;
Sundry other stocks
_
Total
Ledger Value (see Balance Sheet)
Stocks with Trustees—
Roads Operated as Part of the L. A N. System.
Owensboro & Nashville Railway
Henderson Belt Railroad
Southeast & St. Louis Railway
Pensacola Railroad
Loulsv. CIn. & Lexington Ry., Preferred
Loulsv. Cln. & Lexington Ry., Common
Alabama Mineral Railroad
Louisville Railway Transfer
Mobile & Montgomery Railway
Shelby Railroad
Birmingham Mineral Railroad
New Orleans Mobile & Texas
Railway
Nashville Florence & Sheffield Ry.
Pontchartraln Railroad
Henderson Bridge Co
I
$25,000 00
100,000 00
25,000 00
5,000 00
1,979,600 00
193,124 99
6,000
4,000
18,000 766,000 794,000 37,157,159
Pledged.
STOCKS.
Augusta Belt Railway
Augusta Union Station Co
Augusta & Summerville Railroad
Atlantic Compress Co
*.
Athens & Telllco Railway
Central Transfer Railway & Storage Co
Chic. Ind. & Loulsv. Ry., Pref. (one-half).
Chic. Ind. & Loulsv. Ry., Com. (one-half).
*Central Trust Standard Trust Farmers' Loan
Co. Collateral Co. L. A N.'
A Trust Co.
for Unified 50- Sou.,Monon Collateral under
Year 4%
N. O. M. A T.
Collateral
Bonds.
Joint Bonds.
Mtgs.
$32,500
12,500
25,000
25,900
25,000
00
00
00
00
00
5,000
124,500
25,000
17,275
82,300
28,000
00
00
00
00
00
00
$1,836,700 00
4,898,450 00
Total Pledged
Owned as
$1,936,700 00
4,898,450 00
5,000
15,000
13,000
50,000
15,000 00
13,000 00
50,000 00
7,533 33
61,700 00
$5,501,500 00
5.501,500 00
2,000,000 00
1,127,400 00
2,000,000 00
1,127,400 00
355 00
2,179.525 90
$4,854,174 86
2,511,691 37
1.979.600
7.177.600
193,124
54,800
46,100
2,000,000
1,134,933
61,700
205,800
120,000
50,000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
03
50
00
00
00
00
00
00
00
00
99
00
00
00
33
00
00
00
00
355 00
116,200 00
$2,703,879 99
$32,500
12,500
25,000
25,900
25.000
25,000
1,936,700
4,903,450
124,500
25,000
17,275
82,300
28,000
100,000
776,081
1,631,385
3,300
25,000
776,081 03
1,631,385 50
3,300 00
1,676,100 00
Orand
Total.
Investment.
54,800 00
46,100 00
205,800 00
120,000 00
50,000 00
31,000
6,000
6,000
7,015,159
_
Ledger Value, Marketable Bonds (see
13,582,000
2.000
37,000
424.000
725,000
—
$
140,000
7,000
19,000
24,000
309,000
766,000
15,000
3,929,000
100,000
3,150,000
4,958,000
217,000
1,000
$
1,200,000 1,200,000
—
116,200 00
$8,628,900 00
5,355,543- 75
$6,835,150 00
6,006,033 62
$15,464,050 00 $23,022,104 85
11.361,577 37 16,052,794 64
963,400 00
19,750
980,000
285,000
1,500,000
985,000
1,969,000
100,000
2,939,700
589,256
2,412,600
8,985,000
615,000
963,400
19,750
980,000
285,000
1,500,000
985,000
1,969,000
100,000
00
00
00
00
00
00
00
00
00
00
00
00
2,939,700
589,256
2,412,600
$711,800 00
501,000 00
$17,844,706 00
250.788 48
$2,703,879 99 $4,854,174 86 $26,473,606 00 $6,835,150 00
For Bonds held by Central Trust Co., Trustee
under Unified Mortgage, see table above.
$
225,000
500,000
_
•
$
■
Total (see Balance Sheet)
Marketable Bonds.
Carrollton & Worthville RR. Co., 5%.
Charleston Term. Co., 50-yr., 4% Gold.
Central Transfer Ry. & Storage Co., 5%
Jackson Lumber Co., 6% Gold
Jenifer Iron & Coal Co., 2d Mtg., 5%__
L. & N. Terminal Co., 50-year, Gold,4%
Louisville Property Co., Gold, 4%_.
Grand Total Stocks
'
"r
19,844,000
_
Ledger Value (see Balance Sheet)
Total
.
Total (see Balance Sheet).
Issues of Other Companies.
Total
$
$
__
Total
Ry.
!
"
Pensacola Dlv., 1st Mtg., Gold, 6%
7,000
Pensacola & Atl. RR.,lst Mtg.,Gold,6%
19,000
General Mortgage, Gold, 6%
24,000
Gallatin & Scottsv. Ry., 1st M., G., 4%
309,000
Henderson Bridge Co., 1st Mtg., 6%__
First Mtg., 5%, 50-year, Gold
"15,666
Birmingham Mineral RR., 1st Mtg., 5%
Nash. Flo. & Shef. Ry., 1st M., G.. 5%
100,000
Alabama Mineral RR., 4%__
Unified 50-Year 4% Gold Mortgage
4,943,000
L. & N., P. & M. Dlv. 50-yr. 4%, G., 1st
217,000
Atl. Knox. & Nor.Ry., 1st M., 5% G_.
1,000
Atl. Knox. & Cln. Dlv., 4% Gold
13,582,000
S. E. & St. L. Dlv., 2d Mtg., Gold, 3%
Kentucky Cent. Ry., 1st Mtg., G., 4%_
32,000
Five per cent First Mtg. Trust Gold—
424,000
L. & N.-Sou., Monon, Coll., 4% Joint—
L. & N. one-half
31,000
New Orleans Mobile & Texas Ry., 6%
*
A
M.
Grand
Total.
00
00
00
00
00
00
00
00
00
00
00
00
00
00
3,985,000
615,000
711,800
501,000 00
963,400
19,750
980,000
285,000
1,500,000
985,000
1,969,000
100,000
2,939,700
589,256
2,412,600
3,985,000
615,000
711,800
501,000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
$711,800 00 $18,556,506 00 $18,556,506 00
500
250.793 48
250.793 48
$711,800 00 $34,020,556 00 $41,578,610 85
TABLE NO. Vn.—GROSS
Average operated during year, 4,554.30
$2,758,870
2,838,816
3,080,891
3,521,076
3,393,270
3,229,056
3,297,169
3,058,513
July 1909
Aug.
“
Sept. “
Oct.
Nov.
Dec.
.Jan.
Feb.
1910
“
March “
3,631,724 23
3,202,507 57
3.323,932 96
3,085,949 33
“
"
•June
Jrom Transpor¬
Revenues from
Operations Other
than Transpor¬
tation
tation.
,
Other Revenues
Months.
.
April
“
May
June
“
“
$20,669 87
28,768 24
32,183 88
35,899 72
38,763 50
26,249 34
28,518 19
27,308 60
33,028 32
28,663 33
28,284 28
25,277 20
Totals
$353,614 47
July 1909
Aug.
“
Sept. “
..
-
“
Oct.
“
Nov.
Dec.
“
Jan. 1910
Feb.
“
March “
TABLE NO. vra.—GROSS OPERATING
$15,510 86
14,697,90
17,669 32
23,374 11
21,228 97
15,252 46
18,823 63
16,048 27
19,363 55
24,268 00
23,451 64
19,490 01
$1,409,204 99
$229,178 72
158,502
128,113
110,347
125,435
134,499
112,528
106,888
72,645 87
72,681 44
72,637 95
$865,965 70
Percent cf
$3,888,793 43
4,061,441 99
$356,641 01
$52,433,381 94
4,267,791
4,706,690
4,540,696
4,483,844
4,421,361
4,115,839
4,790,529
4,394,263
4,528,321
4,233,808
Net Operating
Revenues.
Operating
Total Operating
Revenues.
15
51
36
73
85
64
71
16
11
76
40
63
$18,882
25,595
27,406
27,502
30,112
34,458
24,775
25,936
31,726
49,384
33,477
27,382
17
50
00
94
64
83
32
76
70
06
06
01
$93,030
89,609
96,386
125,684
128,179
72,285 04
72,174 21
72,479 33
$10,796,997 58
$38,421,779 47
.
Other Passenger
Train Revenue.
Express.
$71,726 44
71,717 12
71,742 19
72,111 51
71,867 18
71,897 42
76
45
15.
87
50
71
08
83
53
48
07
15
$910,103
992,237
941,512
901,040
857,273
948,426
851,676
805,510
876,772
882,294
933,966
896,183
18
27
85
31
87
97
47
46
Miles.]
Mail.
Passenger.
Freight.
Months
Totals
MONTHS.
OPERATING REVENUES, OPERATING EXPENSES, AND NET, BY
[4,590.55 Miles.
April
May
959
THE CHRONICLE
Oct. 8 191U.
Expenses.
$2,416,479
2,463,728
2,530,516
2,649,631
2,702,231
75
19
51
37
44
29
77
07
85
28
2,732,483
Expenses
to
Revenues
$1,472,813 73
70
60
88
90
44
40
38
77
88
31
85
1,597,713
1,737,274
2,057,058
1,838,465
1,751,360
1,370,982
1,153,339
1,565,183
1,144,306
1,103,604
60,66
59.29
56.30
59.51
60.94
68.99
71.98
67.33
73.96
75.63
84.50
$17,447,803 16
66.72
.
3,050,379
2,962,499
3,225,345
3,249,956
3,424,717
3,577,607 67
$34,985,578 78
62.14
39
87
29
07
97
06
52
89
76
00
656,200 61
REVENUES, OPERATING EXPENSES, AND NET.
Per Cent of
Gross
Revenues.
Sources.
Operating
Expenses.
Gross Operating
Revenues.
N
Net Operating
Revenues.
*
Passenger revenue
Excess baggage revenue
Parlor and chair car revenue
Mall revenue
Express revenue
Milk revenue
Other passenger train revenue
-------
r
Total passenger train revenue
—
Freight revenue
Switching revenue
Special service train revenue
Miscellaneous transportation revenue
Total revenue from transportation
Station and train privileges
Storage, freight.
Storage, baggage.Car service
20.592
.336
.021
1.651
2.688
.076
.005
$10,796,997 58
176,016 29
10,778 75
865,965 70
1,409,204 99
39,734 28
2,649 40
73.277
.622
.047
.005
$13,301,346
38,421,779
326,253
24,543
2,817
99
47
45
67
35
$52,076,740
19,999
41,562
5,536
140,020
6,320
52,057
17,602
93
35
.038
.079
.011
.267
.012
.099
.034
.140
,
Telegraph
Rents
Miscellaneous
Joint facilities—Dr
Joint facilities—Cr
$4,440,532 01
12,297,015 67
326,253 45
24,543 67
2,817 35
19,999
41,544
5,555
140,020
6,320
52,057
17,602
3,447
76,988
63
99
23
68
53
57
/ 3,447 42
\76,988 45
-
Total revenue from operations other than
$8,860,814 98
26,124,763 80
35
38
24
23
68
53
57
42
45
$356,641 01
transportation
100.000
Total operating revenues
$52,433,381 94
$34,985,578 78
$17,447,803 16
TABLE NO. IX—OPERATING EXPENSES.
EXPENDED FOR—
Maintenance of Way
Amounts.
and Structures—
$339,298 80
Superintendence
Ballast--
__
Ballast—Extraordinary
Ties
Ties—Extraordinary
Rails
Ralls—Extraordinary
-
-
108,390
4,753
901,891
7,234
167,922
80
74
66
91
17
16,416 25
_
198,556 47
2,607 43
Other Track Material
Other Track Material—Extraordinary.
Roadway and Track
Roadway and Track—Extraordinary.,
Roadway and Track—Assessments for Public Improvements
Cleaning Right of Way
Removal of Snow, Sand and Ice.:
-
Tunnels
Tunnels—Extraordinary
Bridges, Trestles and Culverts
Bridges, Trestles and Culverts—Extraordinary
Over and Under Grade Crossings.
Over and Under Grade Crossings—Extraordinary
Grade Crossings, Cattle Guards and Signs
Grade Crossings, Cattle Guards, and Signs—Extraordinary.
Right of Way Fences.
;
Right of Way Fences—Extraordinary.
Snow and Sand Fences and Snowsheds
2,343,037
145,704
57,867
118,828
33
53
26
34
19,029 80
32,266 72
408
920,023
132,426
8,457
46
46,656
3
82
50
48
39
32
80
30
42,842 69
18 83
48,236
1,959
11,497
69
Electric Power Transmission
Water Stations.
Fuel Stations.
88,853 17
39,442 78
Shops, Engine Houses, &c
Buildings, Fixtures and Grounds—Extraordinary.
Buildings, Fixtures and Grounds—Assessments for Public
Improvements
Docks and Wharves
Docks and Wharves—Extraordinary
61
91
16
70
112,583 27
356,649 08
17,623 97
15,404 77
214,195 07
3,351 07
37
02
15
60
Roadway Tools and Supplies
78,899
Injuries to Persons
75,069
17,317
Stationery and Printing
Other Expenses
3,266
1,388,700
Way and Structures—Depreciation
Maintaining Joint Tracks, Yards and Other Facilities—Dr._
230,221
Maintaining Joint Tracks, Yards and Other Facilities—Cr.. Cr. 145,363
Total
Steam Locomotives—Renewals
Steam Locomotives—Depreciation
Electric Locomotives—Repairs
Electric Locomotives—Renewals
Electric Locomotives—Depreciation
$266,785 03
2,745,934 14
00
27
96
$8,172,166 25
•aCr.18,849 63
415,663 67
1
500,628 32
*8,798 17
67,754 30
Passenger Train Cars—Repairs
Passenger Train Cars—Renewals
Passenger Train Cars—Depreciation
Freight Train Cars—Repairs
Freight Train Cars—Renewals
2,830,159 91
*49,303 44
1,304,473 20
Freight Train Cars—Depreciation
Electric Equipment of Cars—Repairs
Electric Equipment of Cars—Renewals
Electric
Equipment of Cars—Depreciation
Floating Equipment—Repairs
Floating Equipment—Renewals
Floating Equipment—Depreciation
Work
Work
Work
*
Equipment—Repairs
Equipment—Renewals
Equipment—Depreciation
Shop Machinery and Tools
Power Plant Equipment
Injuries to Persons.
Stationery and Printing
Other Expenses
Maintaining Joint Equipment at Terminals—Dr.
Maintaining Joint Equipment at Terminals—Cr.
y
Signals and Interlocking Plants
Signals and Interlocking Plants—Extraordinary
Telegraph and Telephone Lines
Telegraph and Telephone Lines—Extraordinary
Station, Office and Other Buildings
Amounts.
Maintenance of Equipment—
Superintendence
Steam Locomotives—Repairs
Total
Traffic Expenses—
Superintendence—Passenger
Superintendence—Freight
Outside Agencies—Passenger
Outside Agencies—Freight
Advertising—Passenger
Advertising—Freight
Traffic Associations—Passenger
Traffic Associations—Freight
Fast Freight Lines.
Industrial and Immigration Bureaus—
Stationery and Printing—Passenger
Stationery and Printing—Freight
;
Other Expenses
Total
43,808
*6,058
34,403
188,935
17
17
00
81
27,740 38
28,703 42
4,035 90
55,576 65
Cr. 807 72
$8,559,104 33
$73,723
202,768
149,665
222,708
143,263
02
68
74
64
55
2 10
3,340
22,052
39,058
34,817
25,225
193,462
10,426
86
96
94
10
01
75
40
$1,120,515 75
960
THE CHRONICLE
Transportation Expenses—
Superintendence
Dispatching Trains.
Station
Station
Employees—Passenger
Employees—Freight
Weighing
—
and Car Service Associations
Coal and Ore Docks
Station Supplies and Expenses
Yard masters and their Clerks.
Yard Conductors and Brakemen
Yard Switch and Signal Tenders
Yard Supplies and Expenses.
Yard Enginemen
Englnehouse Expenses—Yard
Fuel for Yard Locomotives
Water for Yard Locomotives
Lubricants for Yard Locomotives
Other Supplies for Yard Locomotives
Operating Joint Yards and Terminals—Dr
Operating Joint Yards and Terminals—Cr
Motorcnen
Road Enginemen—Passenger.
Road Enginemen—Freight
Road Enginemen—Mixed
—
Amounts.
40
35
02
77
75
(255,891
375,559
424,024
1,820,374
74,439
142,120
268,592
735,107
42,264
27,863
414,060
93,625
295,060
24,528
8,683
10,075
801,119
Cr. 96,636
63
96
19
42
82
79
52
67
90
74
94
73
19
,
537,590
1,552,301
76,908
503,713
594,102
1,958,370
80,889
172,252
20,057
Englnehouse Expenses—Road
Fuel for Road
Locomotives—Passenger
Fuel for Road
Locomotives—Freight
Fuel for Road Locomotives—Mixed
Water for Road Locomotives
Lubricants for Road Locomotives—Passenger
Lubricants for Road Locomotives—Freight
Lubricants for Road Locomotives—Mixed
Other Supplies for Road
Other Supplies for Road Locomotives—Passenger—
Locomotives—Freight
Other Supplies for Road Locomotives—Mixed
Operating Power Plants
Purchased Power
Road Traninmen—Passenger
Road Trainmen—Freight
Road Trainmen—Mixed
Train Supplies and
Expenses—Passenger
Train Supplies and Expenses—Freight
Train Supplies and Expenses—Mixed
Interlockers and Block and Other
Signals—Operation
Crossing Flagmen and Gatemen
448,825 19
1,811,830 15
83,056 69
...
Drawbridge Operation
Clearing Wrecks
Telegraph and Telephone—Operation
Operating Floating Equipment
52,702
1,788
21,713
61,484
1,614
—
15
03
14
96
81
04
60
29
36
28
56
38
62
53
325,627 86
234,753 53
2,255 58
25,191 07
69,250 40
27,155 47
73,249 29
64,595 55
,
Express Service
Stationery and Printing
Other Expenses
Loss and Damage—Freight
Loss and Damage—Baggage
Damage to Property
Damage to Stock on Right of Way—Passenger
Damage to Stock on Right of Way—Freight
Injuries to Persons (not
Employees)—Passenger
Injuries to Persons (not Employees)—Freight
Injuries to Employees—Passenger
Injuries to Employees—Freight
Operating Joint Tracks and Facilities—Dr
Operating Joint Tracks and Facilities—Cr
Total
(16,030,238 20
General Expenses—
Salaries and Expenses of General Officers
Salaries and Expenses of Clerks and
Attendants
General Office Supplies and Expenses
Law Expenses
;
*
Insurance
Relief Department Expenses
Pensions
(121,444
458,562
24,933
360,157
1,728
10,561 18
50,267 38
69,523 39
Stationery and Printing
Other Expenses
General Administration Joint
Tracks, Yards and Ter¬
minals—Dr
General Administration Joint
Tracks, Yards and Termi¬
nals—Or
Total
05
87
34
36
93
9,274 22
Cr. 2,898 47
(1,103,554 25
Total Operating Expenses
(34,985,578 78
a Credit balance in Account
47—Steam Locomotives—Renewals is due
to excess of value of
scrap credited to this account over depreciated
as per Inventory, of
values,
locomotives destroyed during the year.
*
Difference between
amount shown as charged to
Operat. Expenses on
account of Renewals (see a
previous
Renewal Accounts for salvage from page, and Table IX), due to credits to
locomotives and cars destroyed, and on
account of charges to other
companies for
cars
destroyed
on their
lines.
LXXXXI.
TABLE NO. X.—PASSENGER &
FREIGHT STATISTICSTOTALS
AND
AVERAGES FOR THE YEAR COMPARED
WITH
THE PREVIOUS YEAR.
Passenger Traffic.
1909-1910.
Mileage of road operated
a.
No. of miles run by rev.trains b.
No. of miles run by cars
4,554.30
No. of cars in each train
4.91
No. of passengers carried
11,030,027
No. of miles each passenger was
carried
43.25
No. of pass, carried one mile
No. of passengers carried one 477,050,940
mile per mile of road
104,747
No.of pass.carried in each train
46.81
No. of pass, carried in each car.
13.98
Earnings from passenger tr’ns.c $13,308,948 90
4,393.11
expenses, passenger.
$8,860,814.98
(4,448,133.92
Net earnings from pass, trains.
Earnings per mile of road
Expenses per mile of road
Net earnings per mile of road..
(2,922.28
$1,945.59
$976.69
Earnings per revenue train
Expenses per revenue train
mile
mile
Net earnings per rev. train mile
Earnings per car mile
Expenses per car mile
Net earnings per car mile
Earnings per passenger
d__
Earnings per pass, per mile
P. c. of exp. to pass, earnings..
cents
cents
cents
cents
cents
cents
cents
cents
Freight Traffic.
No. of miles run by rev. trains e
No. of miles run by mixed
revenue trains
130.595
86.948
43.647
26.623
17.725
8.898
97.89
2.263
66.58
4.90
98,719
45.20
13.94
$12,335,095.16
$7,446,156.23
(4,888,938.93
(2,807.83
(1,694.96
(1,112.87
cents
cents
cents
cents
cents
cents
cents
cents
+ 8.5721
+ 15.4378
+ 10.6687
319,944,720
+ 13.9441
+ 1.6212
13.57
6.19
Percentage of empty
+ .3036
69.58
68.68
+ 1.3104
30.42
31.32
—2.8736
+ 23.5669
+ 20.2787
30.155.217
24,403,952
5,119,038,899
4,255,981,335
1,124,001
968,785
169.76
20.18
14.04
13.30
Earnings from freight rev.trains $38,438,731.23
Operating expenses, freight
$26,124,763.80
$12,313,967.43
—
$10,284,625.91
(7,390.20
$8,440.10
$5,736.29
$2,703.81
208.950
142.012
66.938
10.544
7.166
3.378
127.469
86.634
40.835
.751
.510
.241
67.96
cents
cents
cents
cents
cents
cents
cents
cents
cents
cents
cents
cents
Gross earnings per mile of road
—Pass., frt. and mlsc
Operating exp. per mile of road
Net earnings per mile of road..
+ 5.5639
+ 18.3975
+ 17.7781
$32,465,069.16
$22,181,343.25
Net earnings from freight reve¬
trains
per mile of road
per mile of road
Net earnings per mile of road_.
Earnings per revenue train mile
Expenses per revenue train mile
Net earnings per rev.train mile.
Earnings per car mile
Expenses per car mile
Net earnings per car mile
Earnings per ton
Expenses per ton
Net earnings per ton.^
Earnings per ton per mile
Expenses per ton per mile
Net earnings per ton per mile..
P. c. of exp. to freight earnings
Total All Traffic.
+ 16.0278
—2.6606
+ 5.8463
+ 4.2355
174.40
262.90
19.36
278.27
car
—2.5848
19.76
mile¬
nue
15.837
10.398
99.51
2.320
60.37
837,708
219,737,560
100,207,160
mileage
Earnings
Expenses
128.552
77.601
50.951
26.235
+ 6.1062
+ 3.5619
+ .2860
+ 7.8950
+ 18.9985
—9.0164
+ 4.0761
+ 14.7868
—12.2368
+ 1.5892
+ 12.0578
—14.3353+ 1.4789
+ 11.9214
—14.4259
—1.6280
—2.4569
+ 10.2866
+ 13.9110
19.82
car mile¬
age to total car mileage
No. of toris carried
No. of tons carried one mile—
No. of tons carried 1 mile per
mile of road
No. of miles each ton was car’d
No. of tons In each train
No. of tons In each loaded car..
No. of tons In each loaded and
+ .8394
+ 9.9996
15,351,129
in each train
empty
42.89
433.684,066
909,517
No. of miles run by cars, loaded
253,660,280
No. of miles run by cars, empty
110,897,918
No. of miles run by cars, loaded
and empty
364,558,198
No. of cars loaded in each train
13.79
No. of cars empty In each train
6.03
No. of cars loaded and empty
car
+ -2041
+ 9.0750
10,112,246
17,486,617
e
Percentage of loaded
+ 3.6692
+ 5.9801
+ 6,3216
8,757,737
47,018,070
,
Operating
P.C. of
Inc.( +)or
Dec. (—),
1908-1909.
9,281,462
49,990,382
...
age to total car
195,181 38
17,909 41
398,713 16
5,237 49
80,874 19
93,898 98
121,319 70
171,588 01
131,952 14
77,735 13
179,341 30
77,805 68
Cr. 39,355 31
[VOL.
+ 19.7318
+ 14,2067
$5,049.12
+ 13.6097
$2,341.08
+ 15.4941
cents
200.545
+ 4.1911
cents
137.016
+ 3.6463
cents
63.529
+ 5.3661
cents
10.147
+ 3.9125
cents
6.933
+ 3.3607
cents
3.214
+ 5.1027
cents
133.035 —4.1839
cents
00.892 —4.6847
cents
42.143
—3.1037
cents
.763 —1.5727
cents
.521
—2.1113
cents
.242
—.4132
68.32
.5269
—
$11,512.94
7,681.88
3,831.06
$10,340.26
+ 11.3409
+ 13.9055
+ 6.5314
6,744.08
3,596.18
Mileage of road operated shows average length operated
during each
fiscal year.
a
b Miles run by mixed revenue trains
should be added to Passenger Train
Mileage In arriving at results per train mile of Passenger Traffic.
c Includes mall,
express, excess baggage and train
privileges.
d Excludes mall, express, excess
baggage and train privileges.
e Miles run by mixed revenue
trains should be added to
Freight Train
Mileage In arriving at results per train mile of Freight Traffic.
THE TEXAS COMPANY.
OFFICIAL STATEMENT TO THE NEW YORK
STOCK EXCHANGE IN CONNECTION WITH THE LISTING
OF $27,000,000 CAPITAL STOCK.
•
New York, September 23 1910.
The Texas
Company respectfully applies to have placed
on the
Regular List of the New York Stock
$27,000,000 Capital Stock; consisting of 270,000 Exchange
shares of
$100 each of a total authorized issue of
$36,000,000. The
Company was incorporated under the laws of the State of
Texas, April 7 1902, with an authorized Capital Stock
$3,000,000. The purposes of incorporation are set out
its charter, as follows:
The duration of the
Corporation, as provided by its charter,
is for a period of
fifty years.
Since the incorporation of The
Texas Company its
develop¬
ment has been one of
construction,
and not due to the pur¬
chase or consolidation of
properties already in existence.
Plans have been
made, materials
purchased, pipe lines and
plants constructed, markets
secured, organization perfected,
the entire
property and business of the Company
developed into a well-balanced, active,
growing industrial
enterprise.
Neches refinery.
of
in
“Said Corporation is organized for the
ing oil and gas, brine and other mineral purpose of storing and transport¬
solutions, and to make reasonable
charges therefor; to buy, sell and furnish oil
and
purposes, to lay down, construct, maintain andgas for light, heat and other
operate pipe lines, tubes,
pump stations, connections, fixtures,
houses and such ma¬
chinery, apparatus, devices and arrangements storage
as may be
ate such pipes and
necessary to oper¬
pipe lines between different points In this
State; to own,
bold, use and occupy such lands,
rights-of-way.
easements,
franchises,
buildings and structures as may be
necessary to the purposes of such Cor¬
poration.**
and
Practically the only exception to this statement is that
was purchased at Port
Neches, Texas, certain lands,
buildings and appliances which were made the basis for the
construction of the plant which is now the
Company’s Port
there
»
CAPITAL STOCK.
The $27,000,000 of Capital Stock
outstanding is full}'
paid and non-assessable. No personal liability attaches to
ownership of stock. No Preferred Stock is provided for in
the charter of the Company.
Since the organization of the
Company its Capital Stock
has been increased from time to time
April
7 1905 from
Oct. 17 1906 from
Oct. 25 1909 from
4 1910 from
June
(3,000,000
6,000,000
12,000,000
18,000,000
to
to
to
to
as
follows:
(6,000,000
12,000,000
18,000,000
36,000,000
Different issues of the above increases
Apr. 1905__12,000 shares at 105
Sept. 1905_.18,000 shares at 100
Oct.
Feb.
1906 40,000 shares at 125
1908 10,000 shares at 137.50
•Oct. 1908 ...40,000 shares at 150
June 1909..10,000 shares at 155
June 1910-.20,000 shares at 190
were
sold
as
follows:
Sold to Stockholders for oash
“
Debenture conversion.
Sold to Stockholders for cash.
Sold for cash.
•The 40,000 shares, par value (4,000,000, were
exchanged for (6,000,000
face value of Debentures, which were
previously sold at an averagejofjpar
and are hereinafter referred to.
-
THE CHRONICLE
Oct 81910. )
The last increase of
Capital Stock
was
authorized at
a
special meeting of the Stockholders of The Texas Company
held at Houston, Texas, on the 28th of May 1910 by the
following resolution:
“Resolved, That the amount of the Capital Stock of The Texas Company
the same Is hereby Increased from Eighteen Million Dollars
($18,000,000) to Thirty-six Million Dollars ($36,000,000), and that the
entire authorized Capital Stock of the Company, as the same is to be when
so Increased, shall consist of 360,000 shares of the par value of $100 each
Instead of 180,000 shares of the par value of $100 each."
be and
Nine Million ($9,000,000) Dollars par value of this in¬
creased stock was issued on June 30 1910 as a Fifty per Cent
stock dividend, in accordance with the following resolution,
passed by the Board of Directors on June 6 1910:
“Whereas, The present authorized Capital Stock of The Texas Company,
Including the Charter Amendment of June 4 1910, is fixed at the sum of
Thirty-six Million Dollars ($36,000,000), of which provisions have been
completely made for the issue of 180,000 shares. Including a proper allot¬
ment of such for reservation in respect to the ultimate conversion of the
remaining balance of outstanding debentures; and
Whereas, In times past sales of stock by the Company have from time
to time been made at premiums in excess of par value, by which process
large amounts have been added to the surplus fund of the Company, and
by virtue of these payments and otherwise the surplus of the Company as
of date June 30 1910, in the judgment of the Board of Directors, will amount
to a sum in excess of Nine Million Dollars ($9,000,000); and
Whereas, For more than a year past the stock of the Company has had
a market value of considerably more than $150 per share; and
Whereas, As of date June 30 1910, it is apparent that the Company’s
net assets upon a fair and conservative valuation will be an amount In
excess of Tewnty-seven Million Dollars ($27,000,000), notwithstanding the
fact at the present time Its outstanding capital does not exceed Eighteen
Million Dollars ($18,000,000); and
Whereas, Now that the present authorized capital is Thirty-six Million
Dollars ($36,000,000) as aforesaid, of which there exists unappropriated
in the treasury 180,000 new shares of stock of the par value of Eighteen
Million Dollars ($18,000,000), and It is in the judgment of the Board of
Directors desirable to reduce the Company’s manifest surplus account, and
to convert a part of such into capital account,
“Now, Therefore, and by express authority of the Stockholders of the
Company, entered of record at a meeting of such on May 28 1910, it is
"Resolved, That a stock dividend is hereby declared upon all of the first
180,000 shares of the Capital Stock of the Company, and there shall be
paid upon the same In shares of Capital Stock from the balance of new
shares, as aforesaid. Fifty Per Cent of such capital, and to accomplish this
result there shall be distributed to the proper holders new certificates fully
paid and non-assessable, upon the rate and basis of 50 shares of such new
stock for each 100 shares of such old stock, as above Indicated, and stock
scrip In usual form shall issue In lieu of fractional shares.”
“
“
“
“
6-inch
miles
year of 1908 there were authorized, issued and
average of par Six per Cent Convertible Gold
Debentures having a par value of Six Million Dollars.
These debentures were convertible at the option of the
holder into stock of The Texas Company on the basis of
During the
an
pipe, 273 miles; 8-inch pipe, 541 miles; total, 1,048
Pipe line rights of way have been granted to the Texas
Company by the owners of the lands across which the lines
have been laid.
These were acquired by purchase from many
hundreds of individuals.
The Company's practice is to
from the best available source conservative informa¬
tion as to the ownership, and to treat with such parties.
Searches were made of the county records frequently with
the assistance of abstract companies.
If,in a rare instance,
it should transpire that the Company’s title originated with
secure
party not really the owner and the latter should assert
claim, the Company would still be amply protected under
its right of condemnation and its position could not be
disturbed.
Accordingly, the Company has good, valid and
unassailable right to the rights of way between all points,
and has undisputed possession thereof.
The Texas Company has erected and owns telegraph and
telephone lines which follow the rights of way of the pipe
lines and connect the various oil fields, pumping stations,
refineries, docks, &c. These lines are over 1,000 miles in
length.
The Company owns in fee a tract of 800 acres of land at
Sour Lake, Texas, which it acquired by purchase in 1903,.
and from which has been produced a large quantity of crude
petroleum, and it is still producing. This property is a part
of the real estate shown in the Balance Sheet, and is carried
at a valuation of $350,000.
The tankage owned by The Texas Company consists ©f the
following:
a
STEEL TANKAGE.
No. of Tanks.
47
55,000 barrels
19
50,000
“
180
37,500
“
Miscellaneous sizes
2,585,000 barrels;
950,000
6,750,000
"
capacity
“
“
1,200,000
$11,485,000
"•
EARTHEN TANKAGE.
10,360,000
58 tanks
PRODUCTION HANDLED BY PIPE LINES.
CONVERTIBLE DEBENTURES AND SERIAL NOTES.
sold at
961
The production handled by the pipe lines of The Texas
Company has for the past year been in excess of 1^000,000
barrels of 42 gallons each per month, and there is every
reason
to believe that it will continue at this rate
THE LOUISIANA COMPANY.
the rate of six and two-thirds shares of
To comply with local conditions and the demands of the
stock for every $1,000 debenture.
The Equitable Trust
business,
Louisiana Company was incorporated under
Company of New York acted as Trustee and Registrar of the laws ofThe
the State of Louisiana April 4 1906 for a period
these debentures.
On June 30 1910 there were outstanding
of ninety-nine (99) years
The authorized capital is $1,$30,000 of such debentures, full provision having been made
for protection of the owner by allotment and issue of proper 000,000, consisting of 10,000 shares, par value $100 each,
of which 8,523 shares were issued and sold to The Texas
shares in respect thereto.
At the present time only $3,000
of such remain outstanding; they are, however, redeemable Company at par, for $852,300, and are all owned by The
Texas Company, such being carried among “other invest¬
January 1 1912 or on any interest day thereafter at the ments” on The Texas
Company's Balance Sheet.
optiok of the Company.
The Louisiana Company owns and operates a 6-inch
During August 1910 conditions arose which seemed to trunk
pipe line running from Lake Charles, La., to the Jen¬
justify the extension and enlargement of the Company's
nings,
field, a distance of forty miles, with a pump
transportation and distribution facilities. For this purpose, station La.,
at Lake Charles; also a 6-inch trunk line from Vivian
$3,000,000 of Six Per Cent serial notes were sold at par for
cash.
These notes are due in ten (10) years, and, being La., to Ardis, La., in the Shreveport field, a distance of
miles, with a pumping station at Oil City, La.
Coupon Notes, were, for conveninece, dated July 1 1910. thirty-two
There is under construction by The Louisiana Company an
They are redeemable at the Company's option at par, and 8-inch trunk line from Ardis to
Logansport, at which point
each series of $300,000 matures annually, beginning Janu¬
it enters the State of Texas. This pipe line will continue from
ary 1 1912The entire issue outstanding on any interest this
point through Jasper, Texas, to The Texas Company’s
day may be paid and retired.
refinery at Port Arthur, a total distance of two hundred
OIL FIELDS, PIPE LINES, TANKAGE, &C.
miles.
It also owns the necessary gathering lines in the
A very large oil field was discovered at Spindle Top, near Shreveport and Jennings fields, together with the tankage,
Beaumont, Texas, and in 1902 the trunk pipe line system pumping stations, rights of way and telegraph and telephone
lines necessary for the operation of its pipe lines.
owned and operated by The Texas Company was started
by the laying of a 6-inch line for a distance of twenty miles INCOME ACCOUNT OF THE LOUISIANA COMPANY FOR THE
TWELVE MONTHS ENDING JUNE 30 1910.
from Spindle Top to the seaboard at Port Arthur, Texas,
Gross
$150 per share, or at
on
the Gulf of Mexico.
As
new
fields
were
discovered, the
Company's pipe lines were extended (first) twenty miles to
Sour Lake, Texas; (second) ten miles to Saratoga; (third)
fifty miles to Humble and (fourth) twenty miles to Houston,
Texas—all six-inch pipe lines.
In the latter part of 1907 the Company decided to extend
its trunk lines to the large producing fields in the north,
principally in the Indian Territory and Oklahoma, and
started
the
construction
from
the
terminus
of
its
then
existing pipe line at Humble, Texas, of an 8-inch line, 460
miles in length.
The line runs practically due north through
or near the towns of Dobbin, Concord, Corsicana, Dallas
and Sherman, Texas, Armstrong, Stuart, Henryetta and
Tulsa, Oklahoma. At each of these points, as well as at
Humble and Sour Lake, Texas, is located one of the powerful
pumping stations which relays the oil in its movement
toward Port Arthur.
From Tulsa branch lines reach the
various producing fields, known as Glenn Pool, North
Extension, Flat Rock, Bald Hill, Bird Creek, &c., in Okla¬
homa.
A further extension of this 8-inch trunk pipe line
is at present under construction from Tulsa to Bartlesville,
Oklahoma, a distance of forty-three miles, to reach the
shallow fields at and near Delaware and Nowata, Oklahoma,
as well as the prospective deep development in the Osage
Nation.
There is also under construction the necessary
field and gathering lines, as well as a trunk line station near
Bartlesville.
The mileage of The Texas Company’s pipe lines, including
field and gathering lines, is at this time as follows:'2-inch
pipe. 85 miles; 3-inch pipe, 71 miles; 4-inch pipe, 78 miles;
Less
earnings from pipeage, storage, royalty and other revenue $210,565,92
operating expenses
80,384 66
Net earnings
Dividends paid
$130,181 26
85,230 00
Carried to sinking fund and depreciation
$44,951 26
The Balance Sheet of the Louisiana Company
fiscal year ending June 30 1910 follows:
Investments
Liabilities.
A ssets.
in
pipe
Capital Stock
lines, tanks, boilers,
pumps,
for the past
Accounts payable
Bills payable
telegraph and
telephone lines
$1,060,200 86 Sinking fund and de¬
Leases, real/estate, oilpreciation
producing and other
Surplus
properties
Supplies on
hand
$28,108
Accounts re¬
ceivable.
6,883
Bills receiv¬
able
37,250
Cash
8,648
_
$852,300 0*
204,463 71
285,429 4*
261,615 7*
1*8,634 01
591,304 42
18
16
00
29
80,889 63
Unexpired insurance
__
48 06
$1,732,442 97
$1,732,442 97
REFINERIES AND BUSINESS OF THE TEXAS
COMPANY.
The Company's
West Dallas, Port
refineries are located at Tulsa, Oklahoma,
Arthur and Port Neches, Texas, and have
an aggregate daily capacity of 30,000 barrels. The business of the Texas Company can be briefly described
in a general way, as follows:
The crude petroleum produced in the oil fields reached by
the Texas Company pipe lines is purchased from the pro-
VS-/.
V.-'/Vss/S:,
■>,
968
THE CHRONICLE
dicers at their wells and delivered by pumps, through the
Company's field .and gathering lines, to large tanks at the
nearest trunk line stations, from which it is
pumped through
the trunk pipe line to the next
station,
where
it is relayed,
and thence continues to its destination
through successive
relay stations, each having two large working tanks. These
stations are located at points determined
by the Company's
engineers as being best suited to engineering and other
Terminals—
74
Bayonne, N. J.
Charleston, S. C.
Delaware River (Mar¬
cus Hook, Pa.)
Mobile, Ala.
Norfolk, Va.
8
9
10
storage tanks for use in the
refinery which is located there, or for re-pumping southward
to Port Arthur.
A considerable
quantity of the petroleum
reaching West Dallas is manufactured into such products
as can be marketed to
advantage from that point. The
quantity thus manufactured varies from time to time with
the business requirements. That
portion of the crude
(Texas)
Abilene
90
Alice
Amarillo
Angleton
Anson
94
95
96
97
98
99
100
101
Ballinger
Beevllle
Big Springs
Bonham
Brady
IS Brownsville
14 Brown wood
15 Calvert
16 Center
17 Chesterville
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
products of petrol¬
manufactured, and from that point they are shipped
by cars or pumped through pipe lines a distance of three
miles to the Company’s Port Arthur
terminal, located on
deep water. These products are shipped to all parts of the
world either in bulk,
barrels, cases or other packages. At
the Port Arthur
refinery and terminal are located extensive
factories for the manufacture of cans,
cases, barrels and
other
eum are
containers.
The refinery at Port Neches is the one devoted
largely to
the manufacture of
asphalt and the products resulting from
its manufacture.
This refinery is located on the Neches
River, eleven miles from Port Arthur, and shipments there¬
from can readily be made
by rail or barge.
The crude petroleum used in the Port Neches
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
Southern
Louisiana.
The 8-inch pipe line extending from the
Shreveport field
to Port Arthur, which is now under
construction,
and which is
referred to elsewhere, will deliver to the Port Arthur
refinery
crude petroleum from the
Shreveport field.
In addition to the
petroleum delivered to the refineries
by the pipe lines, there is also delivered in varying quantities
such petroleum as
may be purchased in fields not reached
by the pipe lines, and wrhich is transported to the refineries
by rail in the Company's cars.
All of the Company's refineries are modern
and up to date,
and are so located that
they can be supplied w ith the differ¬
ent kinds of crude
petroleum from the principal fields, thus
enabling the Company to turn out many kinds of finished
109
110
111
112
113
114
115
116
117
118
119
120
121
122
Cisco
Dallas
Del Rio
Denton
Dublin
El Paso
Ennis
128
129
130
131
132
133
134
135
136
Forney
Fort Smith
Fort Worth
Gainesville
Galveston
Ganado
Garwood
Gonzales
Graham
GreenvUle
Hamilton
Hamlin
Mercedes
Merkel
Midland
Mineola
Morgan's Point
Mustang
Orange
Palacios
Palestine
Pearsall
Pecos
Platnvlew
Port Lavaca
Port O’Connor
Sablnal
San Angelo
San Antonio
San Marcos
Seguln
Sherman
Seymour
Snyder
Sour Lake
Stamford
Stephensvllle
Sweetwater
TarneU
Taylor
Temple
Terrell
Texarkana
Tlmpson
123 Uvalde
124 Van Horn
125 Vernon
126 Victoria
127 Waco
Eagle Lake
Eagle Pass
ElCampo
151 Goldrh waite
refinery is
105
106
107
108
Cleburne
Cleveland
Coleman
Colorado
Columbus
Comanche
Corpus Christi
Crockett
Crowell
Dalhart
Georgetown
Giddmgs
Matagorda
Memphis
102 Quanah
103 Rockport
104 Rusk
Childress
Chtlllcothe
Christine
Gilmer
Marshall
91 Navasota
92 New Braunfels
93 Nottawa
11 Brenham
12 Bronte
oetroleum which is received at West Dallas and is
not
manufactured there is pumped on
the
trunk line to
through
the Company's
refinery at Port Arthur, where is is available
for manufacture as conditions
may make necessary.
The trunk line between West Dallas and Port
Arthur is
also used for the transportation
of certain products whose
manufacture has not been finished at Dallas. These are
delivered to the Port Arthur
refinery for finishing.
At the Port Arthur
refinery the many
and
82
83
84
85
86
87
88
89
Stations—
points economic¬
Texas
79 Lubbock
80 Lufkin
81 McKinney
Providence, R. I.
Port Arthur, Texas
Portland, Me.
1
2
2
4
5
6
7
Laredp
Leonard
75 Llssie
76 Llano
77 Lockhart
78 Longview
Baltimore, Md.
from there by rail shipments.
A pumping
station at Tulsa pumps oil southward
through the 8-mch
trunk line, and when it reaches West Dallas it is delivered
into the twenty large steel
largely that produced in Southern
73
Amesville, La.
Antwerp, Belgium
conditions.
The greater part of the petroleum handled
through the
principal trunk line of the Company extending from Okla¬
homa to the Gulf is collected in the
vicinity of Tulsa. At
Tulsa there has just been
completed and put in operation a
refinery in which a portion of the crude petroleum is manu¬
factured into products which are salable at
ally reached
[VatVijcJxxai
Waxahatchie
Weauieritrd
Webster
Weimar
Wharton
Wichita Falls
Wills Point
Woodville
Yoakum
Louisiana—
1 Abbeville
2 Alexandria
3 Baton Rouge
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Harrisburg
Haskell
Henrietta
Hereford
Hillsboro
Honey Grove
Houston
Hubbard City
Humble
Jacksboro
Kaufman
Kerrvllle
Killeen
Kingsville
Kirbyville
Lampasas
Boyce
Breaux Bridge
Bunkle
Crowley
Delhi
Donaldsonville
Elton
Eunice
Franklin
Greenville
Harvey Cartal
Homer
Houma
Jeanette
Monroe
Morgan City
27 New Iberia
28 New Orleans
29 011 City
30 Opelousas
31
Plaquemine
32 Port Barre
83 St. Joseph -,
34 St. Martinsville
35 West End
36 Welsh *
37 Winfield
Mississippi—
1
2
3
4
5
6
7
8
9
10
11
12
Brookhaven
Clarksdale
Columbia
Hattiesburg
Jackson
Laural
*
Magee
Meridian
Moss Point
Vicksburg
West Point
Woodville
Eastern Division—
1 Beaufort, S. C.
2 Boston, Mass.
3
Bridgeport, Conn.
Charlotte,
4
5
N. C.
Chlncoteague, Va.
Colonial Beach, Va.
Denton, Md.
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Durham, N. C.
East Brooklyn.Md.
Fall River, Mass.
Federalsburg, Md.
Greensboro, N. C.
Irvington, Va.
Newark, N. J.
New Bedford,Mass.
Newport, R. I.
Ogdensburg, N. Y.
Pocomoke City.Md.
Raleigh, N. C.
Reedsville, Va.
Sea Cliff, L. I.
Sharps, Va.
So.Philadelphia, Pa
Springfield, Mass.
Staunton, Va.
Sumter, S. C.
Bradley Beach,N.J
Miscellaneous—
1 Albuquerque, N.M.
2 Artesia, N. M.
3 Carlsbad, N.M.
4 Clifton, Ariz.
5 Clovis, N.M.
6 Deming, N. M.
7 Douglas, Ariz.
8 Nogales, N.M.
9 Roswell, N.M.
10 Tulsa, Okla.
11 Atlanta, Ga.
12 Birmingham, Ala.
13 Decatur, Ala.
14 Demopolis, Ala.
15 Greenville, Ala.
16 Milledgeville, Ga
17 Pueblo, Colo.
Totals.
Texas
Louisiana
136
37
Mississippi
Jennings
Lafayette
12
Eastern Div
27
Miscellaneous.. 17
—
La Fourche Cross
ing
21
22
8 aid
25
26
Lake Charles
Lake Providence
229
11
Terminals
—
240
ROLLING STOCK, STEAMERS AND BARGES.
The rolling stock owned by The Texas
products.
All of the main
Company consists
refinery buildings are of fireproof con¬ of 1,010 tank cars, of which 800 are of the
latest pattern,
struction, and are equipped with the latest and most im¬ with steel
are of other construction;
under-frames,
and
210
proved machinery, such as electric
generating sets for fur¬ five locomotives, four crane locomotives and other railroad
nishing power for lights and for the operation of pumps, equipment
necessary for the distribution of both crude and
presses, elevators and other machinery,
including the boner refined products.
shops, machine shops, car-repair shops, &c. Suitable
The fleet owned and operated by The Texas
Company has
appliances are used tor the manufacture of all
grades
of a bulk capacity of 210,000 barrels, and consists of the
gasolines and naphthas, illuminating, cylinder and lubri¬
following:
cating oils, greases, asphalt and other refined products.
Five ocean-going tank
steamers—“Texas”, 50,000 bbls.
The necessary steam for the
operation of the refineries and capacity; “Northwestern”, 22,500 bbls. capacity;
“Northstations is supplied by the latest
improved water tube boilers town,” 22,500 bbls. capacity; “Northman
22,500 bbls.
aggregating 20,000 horse-power.
capacity; “Florida”, 12,500 bbls. capacity.
The territory nearest to the
Nine ocean-going steel tank
Company's
pipe
lines
and
barges—“Dallas,” “Caddo,”
refineries affords a practically unlimited
outlet for its fuel
“San Antonio,” “Sun,” “Star,”
“Magnolia,” “Humble,”
oil, and a constantly increasing market for its refined
“Moon,” “Tulsa.”
pro¬
ducts.
Ten
wooden
barges—“Batson,” “Hobson,” “Harry
Rail shipments of all petroleum
products are made from Morse,” “Saratoga,” “Jennings,” “Henrietta,”
Port Arthur, Texas, direct to New
“Welsh,
Mexico, Arizona, Colorado, “Houston,” “Iola,” “Scott.”
Utah, Wyoming, Montana, North Dakota, South
Two tugs—“Brady,” “Lone Star.”
One steam lighter—
Nebraska, Kansas, Missouri, Arkansas, and by waterDakota,
Also eight motor boats.
to tfie “Nina C.”
Company’s terminals at Galveston, New' Orleans and Mobile
for [distribution,
DIVIDENDS.
while the Atlantic States are
through the Company's terminals at Jacksonville (tosupplied
The Company has paid cash dividends as follows:
be con¬
structed), Charleston, Norfolk, Baltimore,
Dividend tor Year—
Philadelphia,
Fiscal Year ended—
P. Ct.
Amount.
NewjYork, Providence and Portland (under construction.)
April 30 1903
10
S165.000
,
v
April 30 1904
April 30 1905 (3% quarterly)
April 30 1906
“
**
DISTRIBUTING STATIONS.
^A storage plant in Antwerp,
Belgium, supplies Northern
Continental Europe, while full cargo
shipments are made
direct fromJPort Arthur to all
foreign countries.
)l The Texas Company owns and operates
distributing
stations or agencies in
many principal cities and towns of the
United States, some of which are mentioned
below. The
total number of
terminals, distributing stations
isJ[now two hundred and forty (240),
being rapidly increased.
and
agencies
and their number is
June
June
June
June
June
30
30
30
30
30
1907
"
“
1908
“
“
1909
“
“
1909 (extra)
1910 (3% quarterly)
6
12
12
(5)
15
-
-
12
12
5
12
180,000
360.000
612,000
1,002,000
1,200.000
1,320,000
550,000
1,562,872
Total cash
:
$6,951,872
In addition to the Above, special dividends were paid as follows:
June 30 1908, on 811,000,000 Capital Stock (10%)
1,100.000
(Being a distribution of securities in treasury having a par
value of 81,100,000.)
June 30 1910, on 518,000.000 (stock dividend,
50%)
„
9.000,000
Total
dividends
1. —'
—1
817.051,872
Oct.
81910.]
INCOME
THE CHRONICLE
ACCOUNT FOR THE TWELVE
ENDING JUNE 30 1910.
jority, and shall be called by the President whenever Stockholders owning
one-third of the Capital Stock issued and outstanding shall so
request in
writing.”
Treasury Stock.—“Any shares, of stock authorized by law but unissued
and unsubscribed for shall be deemed treasury stock, and such,
may be
disposed of for cash or property as the Board may from time to time de¬
termine; but the terms of such disposition must receive the affirmative
approval of not. less than eight Directors In office at the time. Such ap-
MONTHS
Gross earnings from sales of oil and other revenue
-$9,846,770 51
Less operating expenses
$5,562,754 86
Less Interest and taxes.374,222 40
5,936,977 26
— --
Net earnings-,.
-----$3,911,793 25
Less added to insurance reserve during the year. $250,000 00
Less added to sinking fund and depreciation acc’t
998,921 25
presence and affirmative vote of the number of
rular meeting, or the necessary additional num-
leir
1,248,921 25
Leaves available for surplus and
Dividends paid
dividends.....
$1,100,000 00
BALANCE SHEET FOR THE FISCAL
JUNE 30 1910.
YEAR ENDED
ASSETS.
Pipe lines, tankage. &c
$9,188,264 40
Ships, cars, terminals, distributing stations,&c. 5,235,230 21
Refineries, real estate, rights of way, &o
year, and a Balance Sheet
at the end of the year.
That it will not dispose
4,045,241 24
Total plant account..
$18,468,735 85
Other investments
858,300 00
Current assets:
Cash on hand
$2,123,437 58
Stock of oil, crude and refined and in process
of manufacture.
6,557,242 55
Bonds and mortgages
1,084,777 45
Accounts and bills receivable
3,676,213 71
13,441,671 29
Unexpired insurance
133,159 84
Capital Stock:
Authorized...
Less unissued.
ble
Insurance
reserve
$27,000,000 00
822,629 39
83,596
750,000
3,145,640
1,100,000
fund
Sinking fund and depreciation against plant account
Surplus..
Trust Company.
The Directors of the
76
00
43
00
present Directors
refineries,
Company
elected annually.
are
The
J. S. Cullman, Arnold Schlaet, L. H.
are:
urer.
THE
This
TEXAS COMPANY,
E. C. LUFKIN,
Committee
recommends
that
Vice-President.
■■
the above-described
$27,000,000 Capital Stock be admitted to the list.
WM. W. HEATON, Chairman.
Adopted by the Governing Committee September 28 1910.
GEORGE W. ELY, Secretary.
„
ft
.
Director* May Amend By-Laws.—“The Board of Directors shall have
power to make, amend and repeal the By-Laws of the Company,
by a vote
of not less than two-thirds of all the Directors at
any regular or special
meeting of the Board, or by a majority with the written assent of two-thirds
of all tne Directors, provided that notice of intention to
make, amend or
repeal the By-Laws in whole or in part at such meeting shall have been given
and the nature of the changes proposed stated in said notice.*'
All By-Laws Subject to Amendment by Stockholders.—“All
By-Laws shall
be subject to amendment, alteration and
repeal by the Stockholders at any
annual meeting, and at any special meeting called for that
purpose.’*
Special Meetings.—“Special meetings of the Stockholders for
any pur¬
pose or purposes may be called by the Directors, either by written instru¬
ment signed by a majority, or by resolutions
a
adopted by
vote of a ma¬
constituent
any
Lapham, J. W. Gates, J. F. Harris, R. E. Brooks, T. J.
Donoghue, James L. Autry, E. C. Lufkin, C. P. Dodge,
R. C. Holmes, G. L. Noble,* M. Moran.
The Officers of the Company are: J. S.
Cullinan, President;
Arnold Schlaet, Vice-President; E. C. Lufkin, Second VicePresident; James L. Autry, Secretary; R. E. Brooks, Treas¬
$32,901,866 98
In addition to having provided a substantial insurance
reserve, as shown on the Balance Sheet, the Company
carries large lines with the Underwriters on stocks,
plants, ships, &c.
The By-Laws provide:
of its interest in
panies’ securities, or permit similar speculations by any of its
constituent companies.
The general office of the Company is in Houston, Texas.
The fiscal year ends June 30.
'
"
The annual meeting is held on the third Tuesday in
November, at such place as the Board may direct.
Transfers of stock are made at the Company's
office,
17 Battery Place, New York City.
The Registrar of the Company's Stock is the New York
$36,000,000 00
9,000,000 00
Current liabilities—Accounts and bills payable, including
$30,000 Convertible Debentures
Suspense account to provide for doubtful accounts receiva¬
showing the assets and liabilities
company, or allow any of said companies to dispose of its
interests in other companies, except on direct authorization
of Stockholders.
That it will not speculate in its own or constituent com¬
$32,901,866 98
LIABILITIES.
approval in advance of such meeting.**
The Texas Company agrees with the Exchange, as follows:
That it will maintain a transfer agency in New York
City,
and give the New York Stock Exchange at least ten
days'
notice of the closing of its transfer books for any
purpose.
That it will publish at least once in each year
prior to Septem¬
ber 1, also submit to the Stockholders at the annual
meeting
of the Company, a statement of its
physical
and
financial
condition and Income Account covering the
previous fiscal
$2,662,872 00
1,562,872 00
Carried to surplus
963
*
'
;
’-
••
-V
.
•
•
.
THE KANSAS CITY SOUTHERN
RAILWAY COMPANY.
TENTH ANNUAL REPORT—FOR THE FISCAL YEAR
ENDED JUNE 30 1910
Kansas City, Mo., September 15 1910.
of The Kansas City Southern Railway Co.
The tenth annual report of the affairs of your
Company,
being for the year ended June 30 1910, is herewith presented.
To the Stockholders
Yard, Terminal and Side Tracks—
North of Belt Junction and in and around
Kansas City
All other
mileage of
your
Company
Main Line—
Kansas City, Mo., to Belt Junction, Mo
Grandview, Mo., to Port Arthur, Tex
June 30 1910
on
11.97 miles.
765.32
Spiro, Okla., to Fort Smith, Ark
Janssen, Ark., to Bonanza Mine
West Lake, La., to Lockport, La
DeQulncey, La., to Lake Charles, La
—
or
controlled
age contract:
Length of track
so
16.47 miles.
2.79
4.05
22.59
1,191.36 miles.
Operated under Trackage Rights—
Between Belt Junction, Mo., and Grandview,
Mo., the
tracks of the St. Louis & San Francisco RR. Co. are
used by The Kansas City Southern By. Co. under track¬
777.29 miles.
—
Branches—
-
362.60 miles.
“
5.57
Total owned
was
79.22 miles.
and Side Tracks..283.38
Second Track
MILES OF RAILROAD.
The track
as follows:
Yard, Terminal
used—Main Track-. 11.03 miles.
Sidings
1.86
“
12.39 miles.
Operated under Lease—
Yard Track to plant of Armour Packing Co
“
“
3.74
Total Miles in System
45.90
“
1,207.49 miles.
SAME BY STATES.
Owned by The K.C. S.
»
State—
Main Line.
Missouri
Kansas
Arkansas
Oklahoma
Louisiana
Texas
.
_
.
Total
______
During the past fiscal
year the total track mileage of the
increased from 1,181.40 to 1,207.49, making a
net addition of 26.09 miles, which consists of the
following
system
was
items:
Length of re-constructed main line between Howe and Heavener in
of the length of the oflnlgal main line between those stations—
Length of reconstructed" line—-.3.47 miles.
Length of original line abandoned.3.44
.03 miles.
Net additions to Operated Yard, Terminal and
excess
“
Side Tracks.
__
.26.06
Second
Main
Track.
174.48
18.38
152.92
127.62
222.79
81.10
5.57
777.29
5.57
.
By. Co. and Sub. Cos. Operated
Yard
Branches.
Track and
Sidings.
101.02
56.58
4.22
15.04
26.64
under
Lease—
Yard
Track.
362.60
under
Trackage
Rights.
.83
2.91
Total.
12.39
43.28
33.66
76.10
51.96
45.90
Operated
294.29
77.87
200.42
176.32
325.53
r.-.rr-
,
3.74
12.39
133.06
1,207.49
Of the total system mileage, the following was not
operated
your Company during the year ended June 30 1910:
Bonanza Coal Mine Spur—Operated by the Central
by
Coal & Coke Co. under contract—
Main Branch
j
Sidings
.
....
2.79 miles.
.3.62
Lockport Branch—Operated by Edgewood Land & Logging Co.
underlease—
Main Branch
Sidings
-----
6.41 miles.
--.4.05 miles.
“
—.-1.07
$.12
“
26.09 miles.
Total not operated by The Kansas City Southern
By. Co.ll .53 miles.
964
THE CHRONICLE
Therefore the total mileage operated by your Company
during the
year was:
Main Lino
Brandies
788.32
39.06
•*'
Total Main Line and Branches OperatedSecond Track
Yard, Terminal and Side Tracks
Total Mileage Operated.....
During the past fiscal
827.38
5.57
-
363.01
-
1,195.96
...
year
the total operated track mileage
increased from 1,169.87 to 1,195.96, making a net
of 26.09 miles, which consists of the increase in
mileage already explained: there being
not operated.
no
addition
operated
increase in mileage
EQUIPMENT.
The Rolling Equipment
June 30 1910 consisted of:
owned
or
otherwise controlled
Acquired
Acquired
Locomotives—
under
under
Equip.
Equip.
Trusts.
Owned. Trusts.
Passenger Equip.— Owned.
18
Coaches
22
120
27 Chair
12
29
8 Coach and Baggage
4
Coach and Mall
1—
4
167
35 Baggage, Coach 6s Mall.
1
53
10 Baggage
9
Passenger
Freight
Switch
Total
Cabooses
Freight Equipment—
In Commercial Service—
.2,353
_
Stock
Tank
Coal
Convertible
BallastFlat
.
.
183
270
95
.1,476
Coal
Express and Mall
Office and Pay
99
99
395
Total
Work EquipmentOutfit Coaches
Outfit Flat
Water
99
.
517
.4,894
In Work ServiceBox
Water
Coal
Flat
.
.
.
_
Total.-.
.
Grand Total
—
2
4
Cars—
...
6
68
18
—
Total
PORT ARTHUR CANAL & DOCK COMPANY.
Lands, slips, docks, wharves, warehouses, one grain
(capacity 600,000 bushels), &c., all at Port Arthur,
elevator
Texas.
This property is controlled by The Kansas City Southern
Railway Company as the owner of all the stock and bonds of
the Port Arthur Canal & Dock Company.
6c
GULF
TERMINAL
COMPANY.
Union
Depot property at Shreveport, Louisiana, including
estate, fruildings and 1.06 miles of yard and terminal
track, controlled by The Kansas City Southern Railway
Company, as the owner of all the capital stock of the Kansas
its real
City Shreveport & Gulf Terminal Company.
Standard Guage Line from Heavener, Oklahoma, to Wal¬
dron, Arkansas, 32.33 miles, together with rights of way,
buildings, appurtenances, &c., controlled by The Kansas City
Southern Railway Company as the owner of all the
capital
stock and bonds of The Arkansas Western
Railway Company.
THE K. C. S. ELEVATOR COMPANY.
One first-class elevator of capacity
situated at Kansas City, Missouri.
650,000
bushels,
A
Company owning 83 tank cars, and controlling 170 tank
under Equipment Trusts, controlled
jointly by The
Kansas City Southern Railway Company as the owner of
three-quarters of the* capital stock and the Midland Valley
Railroad Company as owner of the remaining one-quarter
ears
.
■
.
That portion of the System lying within the State of
Texas,
the mileage of which is included in the
operated mileage of
The Kansas City Southern Railway
Company, is operated
separately by its owner, The Texarkana & Fort Smith Rail¬
way Company, which company has its own general offices
and books of account at Texarkana, Texas, in accordance
with the Texas law.
For the sake of completeness,
however, the reports of that
company are included in those of The Kansas City Southern
Railway Company in so far as necessary to show the results
of the operation of the whole line from Kansas
City to the
Gulf.
RESULTS OF OPERATION.
The following statement shows the results of
the Kansas City Southern Railway for the
operation of
year ended June 30
1910, compared with corresponding results for the preceding
■
Miles of Bsoond Main Track,
96
57
27
09
3,543 00
9,390 00
—5,847 00
132,538 01
114,203 59
+ 18,334 42
58 $8,771,965 39
+$822,686 19
„
Total
$9,594,651
Operating Expenses—
Maintenance of Way and
Structures-$1,047,348
Maintenance of Equipment. 1,195,698
Traffic Expenses
319,956
Transportation Expenses... 3,346,463
General Expenses..
359,117
Total
$6,268,584
Taxes
$343,773
Net Earnings—Taxes not De¬
ducted
3,326,066
Net Earnings—Taxes Deducted 2,982,293
Ratio of Operating Expenses to
Earnings
of Operating Expenses
Earnings
Ratio
and Taxes to
$960,600 23
1,006,697 80
271,593 55
2,779,583 51
331,581 15
45
89
47
46
40
67 $5,350,056 24
00
$322,279 42
91
91
3,421,909 15
3,099,629 73
+$86.748
+189,001
+48,362
+566,879
+27,536
22
09
92
95
25
+ $918,528 43
+ $21,493 58
—95,842 24
—117,335 82
65.33%
60.99%
+4.34%
68.92%
64.66%
+ 4.26%
The Gross
Earnings for the year ended June 30 1910,cornpared with the Gross Eanrings for the preceding year, show
the following increases:
Passenger, Mall and Express
Freight
Switching
.$146,077
588,319
75,801
12,487
.
.
.
64
20
93
42
$822,686 19
road.
Freight Earnings is due to the develop¬
Louisiana; to the dis¬
of additional large oil and gas fields near Mooringsport, just north bf Shreveport, La., which promise large
yields for some years to come; to the increase of export and
import traffic and to the general development of the country.
This is particularly true of the development of the fruit in-*
dustry which resulted in the shipment during the year of
410 cars of peaches from the new orchards near Horatio, Ark.
It is gratifying to observe that the large increase in Freight
Earnings resulted notwithstanding a decrease of .22 mill in
the average rate per ton per mile.
A general strike of the miners in the Southwestern coal
fields vras inaugurated April 1 1910 and continued until
September 13 1910. This resulted in a considerable decrease
in earnings from coal traffic and increased the cost of the coal
used by your Company for fuel.
The increase in Operating Expenses shown by the reports
resulted from the following causes:
1909-1910.
788.32
39.06
363.01
5.57
1908-1909.
788.29
-
39io6
336.95
5.57
The movement expense of additional volume of Revenue Trafflo—
107,820,804 tons one mile
$301,898 00
The movement expense of excess volume of Company Freight
used in Improvements for which no revenue charge was made:
39,036,889 tons one mile
109,303 00
Increase due to increased cost of fuel used in operation—
251,075 tons coal at Increased cost of 17 cents
per ton
.$42,683 00
718,026 barrels of oil at increased cost of 4.4
.
barrel
31,593 00
t
Increase due to settlement during the year of large claims for
personal injuries.
L
Increase in Maintenance Charges due to increased cost of ma¬
terials and to improvement of the general condition of the
74,276 00
93,208 00
property
295,312 00
Increase in Traffic Expenses due to extension of Outside Agen¬
cies, enlargement of Industrial and Immigration Bureaus,
increased advertising and increased cost of Tariffs
Increase in General Expenses due to increased cost of compiling
Governmental reports
42,481 00
2,050 00
-
GLENN-POOL TANK LINE COMPANY.
Operated Mileage—Miles of Main Line
Miles of Branches.Miles of Spurs and Sidings-.
Other than Transportation
cents per
THE ARKANSAS WESTERN RAILWAY COMPANY.
year:
-
66
91
covery
property, its rights of way, real
buildings, equipment, appurtenances, &c., your
Company on June 30 1910 controlled, by virtue of its owner¬
ship of securities, all the property of the following corpora¬
tions, riz.:;
of the stock.
+75,801 93
+ 124,035
—519
+ 2,926
+ 566
+ 958
+ 18,110
ment of the oil fields ofOklahoma and
35
1,642
SHREVEPORT
Miscellaneous Transportation
Revenue
Revenue from Operations
The increase in
estate,
CITY
+ $588,319 20
_
to your
Lldger woods
In addition to this railroad
KANSAS
1908-1909.
1909-1910.
Freight Revenue
87,226,738 98 $6,638,419 78
Switching Revenue.
396,660 54
472,462 47
Passenger Revenue..
1,306,078 81
1,430,114 47
Excess Baggage Revenue
15,206 58
14,686 67
Special ServlceTraln Revenue
8,788 88
11,715 84
Other Pass. Train Revenue.
677 92
111 35
Mall Revenue
119,293,37
118,335 10
Express Revenue
164,770 76
182,880 85
The increase in Passenger, Mail and Express Earnings is
due to the general development of the territory tributary
Ditchers
Pile Drivers
773
Inc. (+) or
Dec. (—).
Gross Earnings from Operation—
Total Increase
1,642 Slope Levelers
—
LXXXXI
Miscellaneous
Derrick
Steam Shovels
—
415
1
30
79
248
5,667
5
950
5
7
5
Excursion
d
-
on
[VOL.
Inc. (+) or
Dec. (—).
+ .03
+26"06
$918,528 00
No
revenue charge was made against any Company Freight.
During the year the Net Expenditures for Additions and
Improvements were:
From Proceeds of Refunding and Improvement
Gold Bonds Issued July 1 1809
From Surplus
Mortgage
$1,559,673 52
343,156 32
$1,902,829 84
Total
These
expenditures include the cost of a number of New
Spurs to serve industries not heretofore reached by your
tracks, and to accommodate new industries which were being
established.
The following is a list of such spurs,
been completed and others are in course
of which some have
of construction:
NEW TRACKS TO SERVE NEW INDUSTRIES.
Completed—
I. J. Bayless.
Ballard, Oklahoma.
Amsterdam, Missouri.
Sheffield, Missouri.
Mile 439.
—Mile. 440.
Fort Smith, Arkansas.
Kansas City, Missouri.
Pittsburg, Kansas.
Amos H. Hall..
A. A. Whiting
Southern Orchard Planting Company
Southern Orchard Planting Company.
Mansfield Lumber Company
Richards & Conover Hardware Company.
Standard Ice & Fuel Company..
Prairie Oil & Gas Company
Uncle Sam Oil Company (Two tracks)
Kalmbach Milling Company
Standard Oil Company
The Texas Company
Helslg & Norvell and Broussard
Talbot Duhlg Lumber Company
Alley Track to serve industries
Uncompleted—
Lanana Lumber Company.
..Mile 435.
Armourdale, Kansas.
Shreveport, Louisiana.
Lewis, Louisiana.
..Mile 785.
*
Beaumont, Texas.
..Lemon, Texas.
Texarkana, Texas.
„■
Many, Louisiana.
The Texas Company
.Shreveport, Louisiana.
Southern Orchard Planting Company
Mile 438.
General Industry Track for loading stock
Mile 101-2.
J. C. Trees Oil Company.
Lewis, Louisiana.
The Sun Company
....Lewis, Louisiana.
R. Kobel....
....--.--.Redland, Oklahoma.
Farmers OH & Fertilizer Co
Texarkana. Texas. ^
r
O0T. 8
1910.1 -
THE CHRONICLE
NEW TRACKS TO SERVE OLD INDUSTRIES.
Completed—
Davis & Allen
O. E. Forrester
Barker & Llghton, Sawmill
Geo. W. Signor Tie Company
the year became one of the prporietary Companies of the
Kansas City Terminal Railway Company by subscription to
and purchase of $100,000 of the capital stock of that Com¬
Cass, Texas.
.Cauthron, Arkansas.
Mile 401.
Neal Springs,
.Mile 417.
Taylor & Cook Lumber Company
Sheridan Coal Company
Fowler Packing Company
Vivian Oil Company
Caddo Gas & Oil Company
Howard Lumber Company
Mena Box & Manufacturing Company.
Arkansas.
Fuller, Kansas.
.Kansas City, Kansas.
Vivian, Louisiana.
.Oil City, Louisiana.
Mile 317.
.Mile 382.
Uncompleted—
Sheridan Coal Company
The Texas Company.
965
Fuller, Kansas.
Port Arthur, Texas.
During the year the organization of the affairs of the Joplin
Union Depot Company, in which your Company owns a onefourth interest, was completed, and the work of construction
is proceeding satisfactorily.
With a view to improving the passenger and freight ter¬
minal facilities of your road at Kansas City, and enhancing
its general standing and importance, your Company during
The principal purpose of the Kansas City Terminal
Railway Company is to construct an extensive Union Passen¬
ger Station at Kansas City, Missouri, with a view to giving
to each of its twelve proprietary
Companies, being all the
principal lines entering the city, the best possible passenger
terminal facilities.
The Terminal Company will also provide
a belt line, with convenient
freight interchange facilities and
connections to industrial plants, and will establish a number
of sub-depots for freight handling.
The general improvement and development of your property
for which funds were provided from the proceeds of the
Refunding and Improvement Mortgage Bonds, issued July 1
1909, was prosecuted vigorously during the year.
The situation June 30 1910, with respect to the $10,000,000
of Refunding and Improvement Mortgage Bonds authorized
to be issued July 1 1909 was as follows:
pany.
.
Expended to
Distribution ot Proposed Expenditures—
1
$375,000 00
5,100,000 00
$375,000 00
5,100,000 00
;
1,250,000 00
604,096 70
1,000,000 00
1,000,000 00
336,968 89
258,724 42
663.031 11
741,275 58
1,275,000 00
690,998 63
684.001 37
$10,000,000 00
$7,365,788 64
$2,634,211 36
Discount on Bonds
To pay Collateral Gold Notes on July 1 1909
Reducing Grades to one-half of one per cent on three full Operating Divisions, aggregating 41 per
cent of the total length of the line
Re-arranglng Four Division Terminals to permit of better and more economical operation under
the 16-hour law and to provide more adequate facilities for taking care of Power and Traffic
Ditching, Ballasting, New Rail, Improvement to Tracks and Bridges
Improvements of Terminal Facilities at Kansas City and Port Arthur, facilities for securing
new business and other corporate purposes
_
_
_
_
__
_
_
__
.
The work of relaying with 85-pound rail the joint track
between Belt Junction and Grandview, and the track ketween
Texarkana and Shreveport, has been completed, so that your
trains
now
have
a
standard track with
entire distance of 560
heavy rails for the
miles, from Kansas City, Missouri, to
Shreveport,
Louisiana.
The
bridges and culverts of your road have been improved
during the past year by reducing the total length of trestles
from 75,272 feet to 73,011 feet; increasing the length of steel
bridges from 19,426 feet to 20,581 feet; increasing the
number of stone and cement culverts* from 514 to 564;
increasing the number of cast iron pipe culverts from
496 to 550, and installing 5 culverts of reinforced concrete
Pipe.
Among the statements and statistics will be found a table
showing the progressive improvements that have been made
in the bridges and culverts of your road from June 30 1900
to June 30 1910.
mortgage to secure an issue of “first and refunding’ ’ 6% gold
bonds limited to $25,000,000, of which $1,500,000 “Series A’\
bonds to be issued at present.
The Trust Co. of America,
New York, is mortgage trustee.
The bonds are to be dated Aug. 1 1910 and mature Aug. 1 1950, but are
subject to call at 102 H on any Interest day (Feb. 1 and Aug. 1).
Of the
bonds, sufficient. It Is understood, are reserved to refund the underlying
bonds, with the exception of the $3,000,000 San Joaquin Light & Power
Issue, which Is not to be retired.
The earnings of the old company for
the 13 months ending Dec. 31 1909 were reported as gross, $466,189; net
over oper. exp., $323,021, contrasting with $245,809 for the 12 months
ending Nov. 30 1908.—V. 91, p. 280.
Southern New England (Bell) Telephone Co.—Right to Sub¬
scribe.—-The directors voted on Oct. 3 that the capital stock
be increased from $7,693,700 to $8,792,800, the additional
10,991 shares of $100 to be offered to stockholders of record
Expended.
1
$645,903 30
During the year the 30 locomotives which were purchased
January 1908 for $525,660 and temporarily placed under
Equipment Trust, were taken into the regular equipment of
the company by the payment of the equipment notes and
the formal transfer of the locomotives to your Company.
The appended balance sheets and statistical statements
give full detailed information concerning expenditures for
Improvements and results of Operation.
The form of balance sheet prescribed by the Inter-State
in
Commerce Commission has been filed with the Commission
at
Washington. Your Board has deemed it advisable,
however, to retain herein the form of balance sheet heretofore
adopted, with which the stockholders are familiar through
its use in former reports, and which is believed to set out
more clearly the financial status of
your Company.
By order of the Board of Directors.
J. A. EDSON, President.
[For statistical tables,
San Joaquin Light & Power Corporation, Fresno, &c.,
Cal.—New Mortgage.—The shareholders of this company, a
consolidation of the San Joaquin Light & Power Co. with
other properties (V. 91, p. 280), have authorized a new
Balance to Be
June 30 1910.
see
under Annual Reports
on a
preceding page.]
Street’s Western Stable Car Line, Chicago.—New Director.
—Wentworth G. Field has succeeded as director R. B.
Slaughter, who resigned.—V. 90,
p.
1494.
Texas Company.—Official Statement to Stoch Exchange.—
The official statement made to the New York Stock
Exchange
in connection with the listing of $27,000,000 of the
company’s
capital stock is printed at length on subsequent pages. The
company was incorporated in 1902 for the business of storing,
transporting and distributing oil. It owns 1,048 miles of
pipe lines and has tankage for 21,845,000 barrels of oil. The
production handled by the pipe lines has for the past year
been in excess of 1,000,000 barrels a month.
The balance
sheet shows assets of
$32,901,866, made up of pipe lines,
tankage, ships, cars, terminals, refineries, real estate, rightsof-way, stock of oil, cash on hand, accounts and bills re¬
ceivable, &c &c. For the income account and other facts,
,
the aforesaid statement.
Dividend on Increased Stock.—A
see
quarterly dividend of
for- 2J^% was paid on
Sept. 30 last on the $27,000,000 outstand¬
ing stock. Distributions from 1905 to June last were at the
(1) Subscriptions must be for full shares and be made by 4 p. m. Dec. 1
rate of 3% quarterly (besides some
extras), but in June 1910
1910.
(2) Subscriptions will be paid $50 per share on or before Jan. 18
a 50% stock dividend was also
1911 and $50 per share Oct. 18 1911.
(3) Interest at 6% will be paid on
paid.
See the aforesaid ap¬
the first installment April 15, July 15 and Oct. 15 1911.
(4) Certificates for
plication
to
list
on a subsequent page.—V. 91, p. 877, 532.
new stock will be Issued as soon as
Oct.
18
1911.
possible after
(5) The
new stock will participate in the dividend of Jan. 15 1912.
(6) The com¬
Torrington (Conn.) Co.—New President.—Director John
pany will not deal In rights or fractions, but will recognize any proper as¬
of Qct. 15, in the proportion of one share of new stock
each multiple of seven shares held by them respectively.
as
signment.—V. 91, p. 522, 152.
Standard Oil Co., New York.—Trade Conditions.—An of¬
ficial statement issued on Oct. 3 says in substance:
During the last three years world production of crude oil has been In¬
creasing at a rate far In excess of Increase In consumption of refined oil,
the following table shows:
[a: Approximate, not In statement.—Ed ]
1906.
1909.
Increase.
%
World’s product’n, crude (bbls.) .213,000,000 304,000,000 91,000,000 42.5
Production of crude oil In U. S_a:126,000,000x186,000,000 60,000,000
World’s refined oil business (bbls.) 48,000,000
53,000,000
5,000,000 10.4
While during the past three years a very large market In the United
States has been created for oil as fuel, stocks are increasing rapidly and at
as
•11 Co. In
8resent
theothers
United States
alone there
Is held In tankage by the Standard
and
barrels.
115,000,000
over
In selling oil for fuel there Is an enormous waste of valuable products
(lubricating oil, paraffin wax, &c.), only the highly Inflammable light ends
being extracted.
Notwithstanding the enormous over-production of crude oil, there have
been floated during the past six or seven months, on English and European
markets, over 70 new oil companies, only a very few of which can ever
become even small factors In the world’s petroleum business.
In view of these conditions, the Standard OH Co. has Inaugurated a cam¬
paign to Increase the world’s consumption of refined oil.
Prices for refined
oil to-day In the United States are lower than at any time during recent
years, and consumption Is therefore Increasing.
Abroad, especially In the
Far East, there exists an unusual opportunity for Increasing consumption
of refined oil, and to accomplish this considerable reductions In prices, not
only In the East, but also In Europe, have already been made.
(A decrease
of 10 points has been made In the price of refined oil for export to So. Am.
London advices report active competition on the part of the Shell Trading
& Transport Co., With a fall of 7 cents In the price of oil In England—Ed.]
—V. 90. p. 1494
■
•
.
‘F. Alvord has been
Skinner.
V. 91, p.
elected
President to succeed
H.
H.
715. y 3Jt JHfilMfll!
Trow Directory Printing & Bookbinding Co.—Dividends
Resumed.—The company has declared “a dividend” of 2%
on the $1,000,000
stock, payable Oct. 17 to holders of record
Oct. 5.
No distributions have been made since Oct.
1904,
up to which time semi-annual payments of 2% each had been
made for some years.—V. 71,
p. 962.
United
Gas
Improvement, Philadelphia.—Increase in
Earnings.—This company reports that for the six months
ended June 30 its net earnings amounted to
$3,260,000, an
increase of $126,000.
For eight months ended Aug. 30
sales of artificial gas show an increase of 8% and natural
gas
an increase of
21.7%. The number of stockholders has
increased 1,370 since Jan. 1.—V. 91, p. 219.
United Shoe Machinery Corporation.—Increase of Stock—
Further Details as to Recent
Purchase.—-'Thecompany has
notified the Boston Stock Exchange of an increase of
60,000
shares ($1,500,000) of common
stock, making the total
outstanding common stock 1,143,974 shares ($28,599,350).
The
new
stock
was no
doubt issued in connection .with the
purchase of the Wonder Worker Machinery Co., referred to
last week (p. 878):
V.l*
966
THE CHRONICLE
[Voi>.
lxxxxi.
At $58 per share the
new stock represents a market valuation of $3,480,The Plant shoe factory at Jamaica Plain, It Is now reported, was
not taken over by the United Go. but by H. B. Endlcott and Geo. E. Keith,
two of the largest manufacturers of men’s shoes in the country.—V. 91,
000.
Gkmxrajernal ^imrs.
878, 158.
p.
Virginia Iron* Coal & Coka Oo.—Report.—For the
ending June 30:
Year. Gross Earns
1909-10. _.$3,695,225
1908-09... 3,000.060
•
Net Earns.
year
Other Inc.
*Int.,Tax.,Ac. Bal.,DeJ.
$517,879
$129,927
$41,003
$688,809
,198,081
71,134
580,945
311.730
Includes amounts for depreciation, development, Ac.—V. 89, p. 917.
Western Union Telegraph Oo.—Revised Balance Sheet.—
The Bell Telephone interests now in control have caused a
revision of the accounts and
a
COMMERCIAL epitome.
Friday Nighty Oct. 7 1910.
policy in general
business, though here and there signs are not wanting of a
somewhat better outlook, notably in some branches of the
The
consensus
iron and steel trade.
re-valuation of the property
Stocks of
by experts
according to modern standards. As a result
the accumulated surplus of $18,867,461 (on June 30 1909)
as increased
by the surplus for the late year to $21,464,834,
has been reduced to $7,733,693 as of June 30 1910 on ac¬
count of the writing off of the following items, which ag¬
gregate $13,731,143:
Reduction In book value of telegraph lines and equipment to
appraised value
$5,595,089
Liability to Gold A Stock Telegraph Co. as to proceeds of sales of
securities prior to June 30 1909, under-stated in balance sheet
on that date
*
2,219,874
Loss on re-valuation of Investments
1,709,546
Reserves required at June 30 1909 for bad and doubtful accounts,
Ac., and for accrued liabilities
*.
1,706,634
Reserves for depreciation on cables to date
2,000,000
Reserves for contingencies.
500,000
..
Report.—The expert accountant’s report for
June 30 1910:
year
ended
Gross earnings...
$32,754,111 Deduct—Int. on bonds
$1,687,830
Net, after taxes
Dividends (3%)
$6,139,808
2,989,697
From loans A Investments 1,135,092
Total
$4,677,527
Net profit
$7,274,900 Balance, surplus.
$2,597,373
This surplus, $2,597,373, contrasts with $2,875,421 for the previous
year, when the 'dividend payments were $250,258 less, the dividends in
1908-09 aggregating only 2 H%, or $2,739,439.
still favors
in 1902.
The company’s contention Is sustained that, the company having com-
f)lled
thedoPost
Roads InActtheof various
of 1866,
withand
CongressStates
enablingState
it to franchise,
construct
ts lines
business
without
a
State franchises
no
are
necessary.
The decision Is therefore Important as
p. 731.
being of general application.—V. 91,
Westinghouse Machine Co.—Proposed New Securities.—
on increasing the indebted¬
The stockholders will vote Dec. 8
ness by the execution of bonds or other
securities, secured
by mortgage or otherwise, “and the sale, exchange or other
disposition of said securities, upon such terms as the directors
shall deem proper.”—V. 90, p. 1559.
—Under date of Sept. 26 the Hanchett Bond Co.annoimces
its incorporation for the purpose of dealing
conservative
The recent increase in demand for
Oct. 1
1910.
Merchandise.
Coffee, Brazil
Coffee, Java
Coffee, others,
Sugar
_
Hides
Cotton
Manila hemp
Sisal hemp
_
Oct. 1
1909.
Sept. 1
1910.
2,251,107 2.445.018 3,157,347
26,341
12,673
72,800
271,384
290,370
439,615
70,474
31,300
17,000
17.500
8,000
12,400
58,973
113,067
38,383
1,359
2,000
6,500
982
850
1,220
62,600
56.500
52,700
'
_
Flour, barrels and sacks
_
LARD continues in light supply and holders are
firm,
restricting business. Prime Western 13.20c., Middle Western
13c. Refined inactive, owing to light stocks. Refined Con¬
tinent 13.40c., South American 14.15c., Brazil, in
kegs, 15.15c.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
Sat.
October deliveryNovember delivery
12.75
11.99
11.04
October delivery
November delivery
12.50
11.65
-10.65
Mon.
Tues.
Wed.
Fri.
Thurs.
12.60
12.60
12.80
12.80
12.75
11.92
11.86
12.10
12.25
12.15
January delivery
10.90
10.88
10.85
11.10
11.00
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
...
Favorable Tax Decision.—The United States Circuit Court
of Appeals at Atlanta, Ga., on Oct. 3,
reversing the decision
of the lower Court rendered in January 1908 (V. 86, p. 234),
held that the coirpany is not obliged to pay any taxes to
the State of Georgia on its franchise under the law passed
a
January delivery
Mon.
Tues.
12.50
12.55
11.60
11.65
10.52 H 10.52 H
Wed.
Thurs.
Fri.
12.87^ 12.90
12.77M
ll.92HH.77M
10.65
10.77M 10.65
11.75
PORK has been dull, with supplies light.
Mess $21 @
$21 50; family $25@$26; clear $22 @$23.
Beef has been
steady with moderate trade; mess $15 50@$16, packet
$16 50@$17, family $19 50@$20, extra India mess $31 @
$3150. Cut meats are firm with demand irregular.
Pickled
hams, regular, 14@15c.; pickled bellies, clear, 16@18c.;
ribs, 1634@17c. Tallow dull and steady; City 7J^c.
Stearines firm but dull; oleo 1234c-» lard 13J^@14c.
Butter
has been only moderately active; creamery extras 28 3^ @ 29c.
Cheese firm with fair business; State, whole milk, colored or
while, fancy, 1534c. Eggs are quiet and firmly held,
especially fine grades; Western firsts, 2434@25c.
OIL.—Linseed was weaker early but is now firm at previ¬
ous levels;
City, raw, American seed, 97@98c.; boiled,
98@99c.; Calcutta, raw, $1 03. Cottonseed quiet; winter
8.50@10c.; summer, white, 8.40@10c. Lard firm in keep¬
ing with raw material; prime $1 02@$1 05; No. 1 extra
61@63c. Cocoanut firm; Cochin 1134c.; Ceylon 10c.
Olive steady, 90@95c. Cod in good demand and firmly
held/domestic 41@43c.; Newfoundland 44@46c.
COFFEE.—Spot prices are firm, although buyers show
little interest.
Owing to recent heavy deliveries the in¬
in municipal
bonds, including the standard grades of county, city, school terior is believed to be well
and drainage^listrict issues, with offices in the New York
supplied. Rio No. 7 11 @1134c.,
Santos No. 4 ll%@1234c.
Mild grades have also been
Life Bldg., 171 La Salle St., Chicago.
Lucius A. Trow¬ quiet and firm, fair to good Cucutas 12$4@13c.
The specu¬
bridge, one of the oldest and most experienced bond dealers lative market has
generally been fairly active and prices
in this country, is President of the
William F. show irregular changes. The strength of near-by deliveries
company.
Hanchett and Harold G. Hanchett, brothers, are
respectively at Havre has been a feature, as well as the continued small
Vice-President and Secretary. Both have been successful
bond salesmen for years, and were formerly associated with primary receipts and the firmness of Brazilian markets.
Closing prices were as follows:
the Merchants’ Loan & Trust Co. of Chicago.
W. F. Han¬ October
8.80
8.851 February
8.89@8.91 June
8.95@8.96
chett was Manager of the Boston office of the
-.8.85
8.90 (March
8.91 @8.92 July
.8.96 @8.97
Trowbridge & November
8.90
December ..8.85
Niver Co.
April
—The
8.87
8.89
8.97@8.98
-
position of what is termed one of the strongest in¬
explained in a circular just
issued by the office of D. Arthur Bowman, investment
bonds, trifugal, 96-degrees test, 3.95@4c.; muscovado, 89-degrees
Third National Bank Building, St. Louis, Mo.
The issue in test, 3.45@3.50c.; molasses, 89-degrees test, 3.20@3.25c.
question is unequivocally recommended in the circular; it is Refined held at old figures for a time, with demand slow
based upon a property said to be controlled
by The Great and business light, but later prices were cut; granulated 5c.
Northern Ry. and which pays a shade better than 5%—
PETROLEUM.—Domestic quotations are unchanged, but
which is declared to be a real
opportunity in the present im¬ export prices have been reduced. Demand for both ac¬
proving bond market.
counts shows improvement.
Refined, barrels, 7.40c.; bulk
3.90c.;
cases 9.40c.
—F. R. McMullin & Co. is a new
Naphtha
firm; 73 to 76 degrees, in 100Chicago banking firm,
with headquarters in The Rookery.
Mr. McMullin for the gallon drums, I6%c.\ drums $8 50 extra. Gasoline steady;
past ten years has been associated as partner with the promi¬ 86 degrees in 100-gallon drums 18%c.; drums $8 50 extra.
nent brokerage firms of Leland, Clement & Curtis and Clem¬
Spirits of turpentine weak early, with a full recovery later;
ent, Curtis & Co., and is well known in La Salle St. circles. 78@7834c* Rosin steady and in moderate demand early
but later became quieter; common to good strained $6 35.
The new house will deal in bonds and other
high-grade seTOBACCO.—The tone of the market may be called steady;
curities for investors.
but the volume of business is small.
Cigar manufacturers
—Spencer Trask & Co. in their October market letter refer who had been deferring purchases in expectation that prices
to the substantial advance in bonds since
July, especially in would be reduced have been buying for immediate needs,
bonds of seasoned merit, and express the
opinion that condi-, evidently disappointed because packers have been firm as to
tions are making for a larger, broader and more active bond
prices, especially on choice descriptions. An active business
market, and that now is the time to buy bonds, rather than is reported by Western cigar
manufacturers, but the scarcity
six months hence.
vestment bonds of its kind is
.
8.92@8.94 August
(May
8.94@8.95 September .8.97@9.00
in cost ed to fair activity
reductions
SUGAR.—Slight
early in the week. Later the tone became better. Cen¬
January
of labor is
—Bailey, Wood
Croft, Toronto, have issued one of
printed on heavy paper, giving the
capitalization, earning power and quotation record of active
csl
their periodical sheets,
Canadian securities.
—Clement, Curtis & Co. of Chicago announce the with¬
drawal of Frank R. McMullin from the firm.
The business
will be continued under the same firm name
by Allan M.
Clement, John F, L. Curtis, Arthur F. Lindley and Arthur
C. Groves.
—Harvey Fisk & Sons have issued an October list
ferings, which will be mailed on request.
of of¬
a
hindrance.
Business in the East is less satis¬
factory. Large crops are anticipated in Connecticut, Penn¬
sylvania and Ohio, but in only the former has buying been at
all active.
The poor outturn in Wisconsin, only 20% binder,
it is predicted, will cause the 1909 crop to sell readily.
COPPER.—Business has been light and prices show no
important changes; lake 12%@ 13c., electrolytic I2%c.,
casting 12f£@12%c. During September stocks of copper,
according to the Copper Producers’ Association, decreased
20,087,531 pounds. Lead stronger; spot 4.40@4.50c.
Spelter quiet but steadier; spot 5.50@5.60c. Tin has been
much stronger, owing to strongly controlled supplies; spot
36@37c. Iron has been slow.
ooT.8mo.|
THE CHRONICLE
On
COTTON.
Friday Nighty October 7 1910.
THE MOVEMENT OF THE CROP
Oct. 7 at—
Great
telegrams from the South to-night is given below. For the
week ending this evening, the total receipts have readied
349,502 bales, against 391,418 bales last week and 242,558
bales the previous week, making the total receipts since
Sept. 1 1910 1,276,410 bales, against 1,513,128 bales
for the same period of 1909, showing a decrease since Sept. 1
1910 of 236,718 bales.
New Orleans..
Galveston
Savannah
Charleston....
MobUe.
Norfolk
New York
Other ports—
____
Sat.
Receipts at—
17,277
—
Corp. Ohrlsti, &c
m
New Orleans
Mobile
Pensacola
—
—
^
_
Mon.
Tues.
Wed.
22,659
33,980
18,942
Thurs.
19,911
-
-
_
6,963
3,460
2,449
_
2,512
1,695
2,864
1,366
Frf.
-
-
_
468
7,431
2,632
2,206
21,608
„
5,171
1,132
4,969
2,563
327
18,030
7,550
1,000
5,894
1,700
18,268
6,100
4,600
f.150
5",220
5~666
f,66o
"800
300
18,000
50,088
56,483
55,475
53,187
55,466
57,657
.
Other
8,371
33,211
27,926
Coast¬
wise.
Foreign
2,415
8,537
Total.
555
Leaving
Stock.
1,000
7,004
54,264
16,650
3,000
11,520
7,700
7,100
34,000
19,203
46,099
74,865
27,078
11,235
5,428
70,343
18,025
12,252
14,321
35,066
17,340 141,238
26,321 185,802
22,460 198,584
273,176
399,179
322,884
3,535
3,000
2,000
550
7,700
Total.
16,134 128,903
-
Ger¬
many.
2,007
15,000
Total 1910.
Total 1909..
Totai 1908.
.
Galveston
Port Arthur
Shipboard, Not Cleared for—
Britain. France
indicated by our
as
967
Speculation in cotton for future delivery has been more
prices, followed by heavy profit-taking sales
active at rising
and a reaction.
The rise
was
traceable to
some
unfavorable
reports, a bullish interpretation put upon the October
11,411
report of the Bureau of Agriculture at Washington, the
260
85
Jacksonville, &c.
202
547
smallness of the receipts,both atjthe ports and interior towns,
Savannah
15,037 15,940 20,481 13,685 17,722 14,199 97,064
and a noticeable broadening of the speculation. Also, there
Brunswick
3,568
3,568
Charleston
2,715
4,883
2,120
2,688
4,662
3,292 20,360
has been a sharp demand from large spot interests.
Spinners
50
Georgetown
50
have been buying.
Wilmington
5,063 11,375
6,513
6,680
Speculation for a rise has become more
5,415
4,541 39,587
Norfolk
1,525
2,830
4,551
2,981
2,527
4,224 18,638
general on the theory that the crop will prove inadequate.
N’port News, &c
Some of the dry goods reports have been rather more favor¬
New York
Boston
10
4
1
20
2
able.
37
The spot markets have advanced and at the open¬
Baltimore
298
298
ing
of
the week the spot sales at Liverpool were notice¬
Philadelphia
ably
large.
Buying orders for futures have come
Totals this week. 45,824 62,187 80,656 51,280 57,789 51.766 349,502
from the West and South, from
Wall Street and
and
the
highest
some
prices
seen
for
The following shows the week’s total receipts, the total Europe,
time have been reached.
Believers in higher prices contend
since Sept. 1 1910, and the stocks to-night,
compared with that the crop, especially east of the Mississippi River, is so
last year:
late that an early killing frost would do serious harm.
Though a lockout had been started in Lancashire, some of
1010.
1909.
Stock.
the dispatches from Liverpool insisted that it was likely to
Receipts to
October 7.
This
Since Sep
This
Since Sep
be of short duration.
On the other hand, it has latterly been
week.
1 1910.
week.
1 1909.
1910.
1909.
felt that, after a rise in a very short space of time of some¬
Galveston
128,903
629,957 159,711
547,067
100,363
184,197
thing like 160 points, a reaction was due. It began on Tues¬
Port Arthur
6,857
7,047
day afternoon under the pressure of very heavy selling for
784
Corp. Chrlstl, &c.
7,431
17,137
6,550
New Orleans
21,608
67,357 43,833
115,198
26,207
69,109
“long” account, supposedly by some of the most aggressive
MobUe
11,411
29,622 14,066
44,315
22,755
29,099
of the bulls among what is sometimes called the WaldorfPensacola
4,010
4,010
~547
Astoria Hotel party.
922
Jacksonville, &c.
1,351
1,689
Short selling also contributed to
Savannah
97,064
308,224 99,082
440,424
91,515
144,045
the reaction.
Besides, the South is said to have latterly
Brunswick
3,568
24,179 11,569
65,524
6,193
8,486
offered cotton more freely.
Charleston
20,360
54,284 18,178
78,255
30,078
The Liverpool spot sales
27,345
50
100
Georgetown
85
125
fell off sharply.
there
And
are
those who doubt the possi¬
Wilmington
39,587
87,808 34,340
112,758
42,276
27,427
Norfolk
18,638
45,576 30,577
bility or wisdom of advancing prices permanently at this
86,105
13,128
22,611
294
Newp’t News, tec.
348
1,000
early date in the season, just as receipts are expected to in¬
New York
455
1,220
806
77,443
59,891
crease materially.
Boston
37
14
440
1,021
Moreover, there are those who fail to
1,168
2,214
Baltimore
298
626
1,438
663
1,633
see anything particularly bullish in the last Bureau
4,589
report.
Philadelphia
182
2,625
5,968
The condition of 65.9% is about 7^£% better than that of a
Total
349,502 1,276,410 418,615 1,513,128
414,414
584,981
year ago and is nearly as good as the ten-year average of
66.6%. Also the area is greater than last year’s and the largest
ever planted. A late frost would
admittedly add much to the
In order that comparison may be made with other years,
crop. The date of killing frost will naturally have much to
we give below the totals at
leading ports for six seasons:
do with determining how large the crop is to be.
In,the
nature of the case, it would seem that the movement of
1908.
1009.
Receipts at—
1907.
1906.
1910..
1905.
the crop must shortly increase materially, na matter what
Galveston
128,903
117,217
159,711
147,921
49,435
the yield may ultimately turn out to be, and with a late fail
144,310
Pt. Arthur,&c.
784
7.431
275
2,402
582
6,431
it may prove far larger than is now generally
New Orleans.
21,6 8
43,833
48,633
28,616
51,240
expected.
38,206
MobUe
14.066
11,411
13,901
11,062
5.110
10,840
Meantime, it is pointed out that prices are now the highest
Savannah
9 .064
99,082
89,396
76,926
71,146
82,866
for this time of the season for thirty years past, with trade
Brunswick
3.568
11,569
11,249
12,273
4.648
2,147
in a far from satisfactory condition.
Charleston,dec
20, 1 >
18,278
10,579
13,989
13,305
7,429
Later came another
WUmlng’n, &c
34,340
25,454
39, 87
37,600
21,595
21,236
advance,
owing
to
the
Norfolk
ending
of
the
Lancashire
lockout, a
18,638
30,577
21,716
19,116
22,795
36,432
continued light-crop movement, heavy rains in parts of the
348
286
N’port N., &c
193
163
103
All others
"882
6,027
2,784
774
970
708
South, some apprehensions of cold weather and further
Total this wk.
349,502
418,615
343,617
250,455
buying by important interests and something of a stampede
345,062
344,925
among the shorts.
Since Sept. 1. 1,276,411 1,513,128 1,364.070
980,578 1,332,075 1,613,384
The rates on and off middling, as established Nov. 17 1909
The exports for the week ending this evening reach a total by the Revision Committee, at which grades other than
of 292,976 bales, of which 150,169 were to Great Britain, middling may be delivered on contract, are as follows:
Fair
.c.1.60 on Middling
_c_
Basis Good mid. tinged.c Even
43,123 to France and 99,684 to the rest of the Continent. Strict mid. fair
1.S0 on Strict low. mid....0.25 off Strict mid. tinged..0.15 off
Below are the exports for the week and since Sept. 1 1910.
Middling fair
1.10 on Low middling
0.60 off Middling tinged...0.25 off
Strict
crop
-
-
-
-
-
-
-
-
-
-
-
—
-
-
-
-
-
-
-
—
m
_
__
—
_
....
_
„
_
-
-
_
—
_
r
—
_
—
....
_
....
—
....
—
-
____
....
...
.
..
good mid
Week ending Oct. 7 1910.
Exported to—
Exports
from—
Great
?
Britain. Fr’nce.
Galveston
64,48029,053
Port Arthur..
Texas City, Ac.
6",963
New Orleans.. 16,500
Great
Britain. France.
Total.
nent.
40,351 133384
200,539 62,236
....
....
Pensacola
Femandina
Savannah
....
..
....
Brunswick...
Charleston
______
...
,
,
.
42,452
-----
-
-
-
-
-----
-----
-
-
-
-
-----
Portland, Me..
San Francisco.
Seattle
Tacoma
"5.034
.....
----
-----
-----
^
—
—
a.- —
—-
Portland, Ore.
Total
-T
^
—
19,465
14,495
—
-----
—
«
——
-
43,918
4,700
6,000
105,835
12,048
12,000
-
—
—
-
29,232
43,727
92,606 34,470
17.621
2,237
6,132
600
^
^
w
^
^
—— — —
_
-
—
_
.....
......
-----
——————
----
.....
....
-----
....
^
—
—
...—
----*-
— —
Total 1909.... 136.10a36.349 88,360260,817
7,187
«»«»
900
—
456,862
14.15
Frf.
14.50
1901..*
1900
1899
1898
1897
1896
1895
8.85
8.38
.10.88
7.31
.
.
_
.
_
1894.0
1893
6.25
8.38
8.06
8.75
.10.38
.10.75
.10.51
9.44
.
.
1892
1891
1890
6.62 1889...
8.00 1888
1887
_
.
..
.
1886.C
.44
1885
1884
1883
1882
1881
1880.
.06
1870
.10.44
The total sales of cotton on the
spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same
days.
—
......
Spot Market
Futures
Market
Closed.
Closed.
,
981.606
■Soles of Spot and Contract.
Con-
Cork-
Spot. sum’n. tract.
912.179
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
%ed. Thurs.
14.10
^
— -
355,994
14.10
QUOTATIONS FOR 32 YEARS.
1902.0
__
^
...—
Tuns.
■
—-
—
338,787 185,957
15,243
900
—
438,691 117,494
183,780
19,377
2,690
„
Mon.
18.00
MARKET AND SALES AT NEW YORK.
2,690
.....
— ——
—
150,169 43,123 99,684 292,976
New York.
—
-
56,704
1,756
12,506
1,055
Sat.
18.75
NEW YORK
1910.C-. ...14.50
1909
...13.60
1008....
9.15
1907.... ...11.90
1906.... ...10.80
1905.... ...10.10
1904....
.10.45
1903....
—
—
^
■
_
°?- Z—
Middling uplands
•
—
—.
....
_
1 t0
428,750
6,857
15,050
66,706
2,029
^
6,000
19,241
7,188 39,610
505
5,077
4,802
4,802
5,034
....
-
Detroit..
t
wr
-----
.....
.....
-
„
7,348
6.566
19,241
■
165,975
6,857
1,597
22,104
...
....
21,952 10,470
4,672
Total.
nent.
Strict good ord--.-l.05 off Strict low.Mld.tlng.0.60 off
Good ordinary
..1.75 off Low mid. tinged...1.50 off
Strict gM mid. tgd.0.35 on Middling stained.. .0.75 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Conti¬
.
25,668 3,600 21,381 50,649
6,000
823
„
....
Philadelphia..
Pembina
13,463
33,779
2,029
_
Newport News
New York
Boston
Baltimore
6",963
6,216 21,716
-----
Wilmington
Norfolk
-----
-
on
on
on
*
Conti¬
|
0.66
0.44
0.22
Good middling
Strict middling
From Sept. 1 1910 to Oct. 7 1910.
Exported to—
Saturday.
Monday
Tuesday
_
Quiet
Steady at
Firm
15 pts.adv Firm
Steady at 20 pts.adv Barely steady
Wednesday Quiet
Barely steady
Thursday Quiet at 5 pts. adv. Steady
FridaySteady at 3 5 pts.adv Firm. ^
. .
5,333
14,200
2,924
5,333
10,600 24,800
2,924
r,7oo l’,700
_
Total...
Total.
2.100
22.457
*
2,100
-Sl+j 10400136,257
968
THE CHRONICLE
FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
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VISIBLE
SUPPLY
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bales
.
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
.
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Amer. cotton afloat for Europe_
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Egypt,Brazll,&c.,aflt.for Europe_
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In Alexandria, Egypt
Stock in Bombay, India
Stock In U. S. ports
Stock in U. S. interior towns
U. S. exports to-day
.
.
M 64
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1909.
1908.
274,000
12,000
28,000
299,000
209,000
10,000
32,000
43,000
2,000
8,000
17,000
2,000
644,000
610,000
18,000
2,000
12,000
8,000
3,000
312,000
20,000
89,000
37,000
4,000
15,000
12,000
10,000
114,000
218,000
87,000
240,000
499,000
50,000
667,140
27,000
64,000
217,000
521,468
368,156
54,117
© 00MM
M
6S©MMM
596,000
10,000
38,000
862,000
34,000
747,956
34,000
66,000
109,000
584,981
321,709
50,313
<■>
——
C*W6»©©^JM®ib00®M
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69
1910.
413,000
66,000
584, 76
35,000
73,000
270,000
441,414
223,532
67,309
s.
—-
60b
MMOSMM
1907.
541,000
27,000
42,000
68,000
93,000
4,000
13,000
19,000
34,000
859,000
80,000
367,200
41,000
61,000
361,000
510.939
237,988
64,786
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a 5,
Thfe above totals show that the interior stocks have in¬
creased during the week 58,831 bales and are
to-night 98,177
bales less than at the same time last year.
The receipts
at all the towns have been 49,518 bales less than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-—We give below a statement showing the
overland movement for the week and since
Sept. 1, as made
up from telegraphic reports Friday night.
The results for
the week and since Sept. 1 in the last two years are as follows:
-1910Week.
4,617
-
Via Cairo
Via Rock Island.
964
150
Via Cincinnati
Week.
3,181
250
175
1.826
415
1,243
1.080
3,089
5,242
-14,078
31,602
10,127
24,204
854
Deduct shipmentsOverland to N.
_
Total to be deducted-
412
1,482
4,863
-
Via other routes,
„
2,207
Sept. 1.
-8,103
3,066
2,743
1,281
4,180
9,324
.
Inland, &c., from South
1909-
Sept. 1.
10,660
3,164
1,148
-
Total visible supply
2,146,531 2,789,959 2,467,881 2,585,913
Of the above, totals of American and other descriptions are as follows:
American—
Liverpool stock
bales. 207,000 513,000 169,000 445,000
Manchester stock.
10,000
30,000
20,000
35,000
Continental stock
71,000
189,000
152.000
124,000
American afloat for Europe
584,276
747,956
667,140
367,200
U. S. port
414,414
584,981
521,468
510,939
U. S. interior stocks
223,532
321,709
368,156
237,988
U. S. exports to-day.
67,309
54,313
54,117
64,786
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M
October 7—
Total Continental stocks
•
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280,000
6,000
13,000
107,000
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COTTON
11,000
75,000
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to-night, as
made up by cable and telegraph, is as follows.
Foreign
as
week’s
stocks,
well as the afloat, are this
returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete figures
for to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
October 7—
Stock at Liverpool
Stock at London
Stock at Manchester
III
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Sept. 1, the shipments
to-night, and the same items for
corresponding period for the previous year—is set out
the
MA
64
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AT THE INTERIOR TOWNS the movement—that
the receipts for the week and since
for the week and the stocks
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e
[VOL.
.
,
3,465
827
335
3,679
2,107
5,581
1,095
2,765
11,483
148
1,064
3,061
1,037
5,023
8,023
17,927
2,307
9,121
6,055
13,675
7,820
15,083
.
.
Total American
East Indian, Brazil,
1
1,577,531
2,416,959 1,923,881 1,812,913
&c.—
Liverpool stock
-
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
73,000
6,000
3,000
43,000
66,000
35,000
73.000
83,000
10,000
8,000
270,000
109,000
29,000
34,000
34,000
66,000
105,000
10,000
8,000
63,000
50,000
27,000
64,000
217,000
96,000
27,000
7,000
97,000
80,000
41,000
64,000
361,000
Leaving total net overland *
*
_
Including movement by rail to Canada.
The
foregoing showy’s the week’s net overland movement
6,055 bales, against 7,820 bales for the week last
year, and that for the season to date.the aggregate net over¬
land exhibits a decrease from a year ago of 1,408 bales.
has been
-1910-
Sight and Spinners’
Takings.
Week.
Receipts at ports to Oct. 7-,_—349,502
In
Net overland to Oct. 7
Southern consumption to
Oct. 7-.
Total marketed
Interior stocks in excess.
—
Total East India, &•
Total American
569,000
373,000
544,000
773,000
1,5 7,531 2,416,959 1,923,881 1,812,913
Total visible supply.
2,146,531 2,789,959 2,467,881 2.585,913
Lly<
7.27d.
Middling Upland, Liverpool
4.96d
6.52d.
7.88d.
Middling Upland, New York
14.50c.
13.55c.
9.00c.
11.75c.
Egypt, Good Brown, Liverpool._
12 fid.
ioy8d.
8fid.
10Hd.
Peruvian, Rough Good, Liverpool 10.50d.
8.50d.
8.30d.
12.00d.
6 fid.
Broach, Fine, Liverpool
7 5-16d.
13-16d. 5 15-16d.
6 7-16d.
Tinnevelly, Good, Liverpool
7 3-16d.
ll-16d.
5 9-16d.
.
395,557
58,831
Came into sight during week_.
Total in sight Oct. 7
Continental imports
bales.
The above figures
of 256,226 bales;'a
decrease of 321,350
bales from 1907.
for the past week have been 25,000
for 1910 show an increase over last week
loss of 643,428 bales from 1909.. a
bales from 1908, and a decline of 438,382
North,
Week—
1908—Oct.
1907—Oct.
1906—Oct.
1905—Oct.
1,463,085
172,754
478,435
74,602
1,814,211
238,546
13,675
172.815
2,052,757
44,126
148,874
sight in previous
Bales.
10
11
12-_
13
173,000
418,615
7,820
52,000
Sept. 1.
1,513,128
15,083
286,000
553,037
spinners’ takings to Oct. 7 24,206
Movement into
Since
Week.
1,635,839
-
^
6,055
40,000
-1809Since
Sept:
1,276,410
484,340
370,340
485,549
450,711
.
years:
Since Sept. 1—
Bales.
1,878,809’
1908—Oct. 10
1907—Oct. 11
1906—Oct. 12.
1905—Oct. 13
1,443,756
----1,780,696
--.2,145,716
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-—Below are the closing quotations of middling
cotton at Southern and other
principal cotton markets for
each day of the week.
"
.• ~
.
•
Oct. 8
THE CHRONICLE
1910.]
Closing Quotations for Middling Cotton
Week ending
October 7.
Galveston
New Orleans—
Mobile
Savannah
Charleston i.
_
_
-
_
_
Wilmington
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
—
-
-
Monday. Tuesday. Wed,'day. Thursd'y.
14
13
13
13
13
14
13
13
13
13
9-16
5-16
7-16
%
13%
13 %
13%
;
14.00
13%
13%
13 11-16
13%
Oct.
1.
%
13%
14 3-16
13 11-16
1311-16
13%
14 %
13%
13 %
13%
14
13%
14
13 11-16
14
14
Friday.
14%
i4 1-16
13 13 16
14
13%
14
14%
14%
14%
14%
14%
14.35
13 15-16
14.35
13 15-16
14.40
14
114.50
14 %
14%
13%
14%
14%
14%
14%
14%
14%
114%
14
13 3-16
14 1-16
14 1-16
14 3-16
13%
13%
13%
j 14 5-16
:14%
13%
OPTION
lowest and closing quotations
Orleans cotton market for the
Sat'day,
14%
13%
13%
13%
13%
13%
14.15
13 13-16
ORLEANS
NEW
1-16
11-16
5-16
11-16
9-16
13%
13%
13%
13%
St. Louis
Houston
Little Rock
on—
Sat'dag.
Monday
Oct. 3.
MARKET.—The highest,
for leading options in th eNew
past week have been as follows:
Tuesday, Wed’day, Thursd’y, Friday,
Oct. 4.
Oct. 5.
Oct. 6.
Oct.
7.
October—
13.55-.63 13.66-.85 13.74-.95 13.80-.95 14.00-.08 14.19-.25
13.62-.63 13.84-.85 13.88 — 13.82-.83 14.08-.09 14.22 —
Range
Closing
November—
Range
13.01-.64 13.66-.80 13.80-.91 13.83-.89
@ —
@
13.65-.67 13.91 — 13.91 — 13.82-.84 14.09-.il 14.23
—
_
Closing
—
—
—
December—
Range
Closing
fl3.62-.71
13.77-.00 13.87-. 12 13.90-.06 14.06-.15 14.20-.37
13.70-.71 13.99-.00 14.01-.02 13.92-.93 14.13 — 14.32-.33
January—
Range
Closing
February—
Range
Closing
13.72-.81 13.88-.31 13.99-.25 14.03-.18 14.18-.27 14.33-.47
13.80-.81 14.11-.12 14.14-.15 14.04-.05 14.26-.27 14.44-.45
969
The thermometer has
the lowest 50.
averaged 61, the highest being 72 and
Ardmore, Oklahoma.—We have had no rain the past week.
averaged 77, ranging from 55 to 98.
Holdenville, Oklahoma.—Dry all the week. The ther¬
mometer has ranged from 47 to 96, averaging 72.
Marlow, Oklahoma.—There has been rain on one day of
the week, the rainfall reaching fifteen hundredths of an inch.
Average thermometer 71, highest 97, lowest 45.
Alexandria, Louisiana.—There has been rain on four days
during the week, the precipitation being three inches and
sixty hundredths. The thermometer has averaged 73,
ranging from 52 to 94.
New Orleans, Louisiana.—We have had rain on four days
the past week, the rainfall being one inch and seventy-five
hundredths.
Thermometer has averaged 76, ranging from
The thermometer has
62 to 88.
Shreveport, Louisiana.—We have had rain on three days
the past week, the rainfall being forty-four hundredths of an
inch.
Thermometer has averaged 71, ranging from 50 to 92.
Helena, Arkansas.—It has rained on three days of the
week, the precipitation reaching four inches and two hun¬
dredths.
The thermometer has ranged from 51 to 80,
averaging 72.6.
Little Rock, Arkansas.—Rain on three days of the week to
the
extent
of
five
inches
and
one hundredth.
Average
highest 90, lowest 50.
March—
Memphis, Tennessee.—It has rained on four days during
<a
14.06-.32 14.19-.45 14.23-.39 14.38-.48 14.52-.70
Range
the week to the extent of four inches and seventy-three
13.95-.96 14.31-.32 14.34-.35 14.24-.25 14.46-.47 14.65-.66
Closing
May—
hundredths.
The thermometer has averaged 70, the highest
13.99-.10 14.17-.44 14.32-.57 14.34-.45 14.49-.57 14.62-.79
Range
14.09-.10 14.43-.44 14.44-.45 14.35-.36 14.55-.56 14.75-.76
Closing
being 90 and the lowest 51.
July—
Nashville, Tennessee.—Rain has fallen on two days of the
14.10-.14
Range
14-42-. 64 14.51-.53 14.60-.66 14.73-.88
@
14.18
14.53-.55 14.54-.56 14.45-.46 14.64-.66 14.86-.87
Closing.
week,
the rainfall being two inches and forty hundredths.
Tone—
The thermometer has averaged 72, ranging from 52 to 92.
Spot
Steady. Steady. Steady. Steady.
Firm.
Steady.
Options
Steady. Steady. Barely st Steady. Very st’y Very st’y
Columbus, Mississippi.—It has rained on two days during
WEATHER REPORTS BY TELEGRAPH.—Our ad¬ the week, the rainfall being seventy-one hundredths of an
inch.
The thermometer has ranged from 62 to 95, averag¬
vices by telegraph from the South this evening
denote that
ing
78.
rain has been quite general during the week, with the
pre¬
Meridian, Mississippi.—Rain on six days of the week, to
cipitation excessive in some localities. As a rule the rain the extent of two inches and forty-two hundredths.
Average
has not done any damage; in fact, in some cases it is
reported thermometer 73, highest 90, lowest 56.
to have been beneficial.
Picking, however, has been inter¬
Vicksburg, Mississippi.—We have had rain on five days
fered with in a number of localities and the marketing of during the week, the rainfall being two inches and sixty-nine
hundredths.
The thermometer has averaged 75, the highest
cotton also.
being 88 and the lowest 52.
Galveston, Texas.—There has been rain on three days
Eldorado, Arkansas.—We have had rain on three days
during the week, on one of which excessive, the total pre¬
cipitation reaching seven inches and sixty-tw*o hundredths. during the week, the precipitation reaching one inch and
fifty hundredths. The thermometer has averaged 70,
The thermometer has averaged 73, ranging from 60 to 85.
Weatherford, Texas.—It has rained on three days of the ranging from 47 to 93.
Mobile, Alabama.—Heavy rains in the interior latter part
week, the precipitation reaching forty-two hundredths of an
The thermometer has ranged from 49 to 94, aver¬ of week caused a suspension of cotton picking.
inch.
We have
had rain on five days during the week, the precipitation
aging 72.
Brenham, Texas.—Rain has fallen on four days during the reaching five inches and sixty-four hundredths. The
week, the rainfall reaching thirty-nine hundredths of an inch. thermometer has ranged from 69 to 89, averaging 79. •
Average thermometer 72, highest 91, lowest 53.
Montgomery, Alabama.— There has been rain on three
Cuero, Texas.—There has been light rain on one day the days during the week, to the extent of forty-one hundredths
past week. The rainfall reached one hundredth of an inch. of an inch. Average thermometer 78, highest 92 lowest 64.
The thermometer has averaged 75, the highest being 100
Selma, Alabama.—Rain on five days of the week to the
and the lowest 50.
extent of one inch and eighty-five hundredths.
The ther¬
Dallas, Texas.—There has been no rain the past week. mometer has
averaged 76.5, the highest being 89 and the
The thermometer has averaged 72, ranging from 45 to 98.
lowest 59.
Henrietta, Texas.—It has been dry all the week. The
Madison, Florida.— Rain has fallen on two days of the
thermometer has ranged from 60 to 98, averaging 79.
week,
the rainfall being twenty-eight hundredths of an inch.
Huntsville, Texas.—We have had rain on three days of
the past week, the rainfall being one inch and eighty-four The thermometer has averaged 79, ranging from 68 to 89.
hundredths.
Atlanta, Georgia.—Rain has fallen on three days during the
Average thermometer 74, highest 98, low¬
est 49.
week, the rainfall reaching thirty-six hundredths of an inch.
Kerrville, Texas.—We have had light rain on two days of The thermometer has ranged from 58 to 89, averaging 74.
the week, the rainfall reaching forty-five hundredths of an
Savannah, Georgia.—There has been rain on one day during
inch.
The thermometer has averaged 76, the
highest being the week, the precipitation being fifty-five hundredths of an
95 and the lowest 56.
inch.
Average thermometer 76, highest 87 and lowest 66.
Lampasas, Texas.—Dry all the week. The thermometer
Washington,
Georgia.—There has been rain on two days
has averaged 70, ranging from 43 to 97.
during the past wreek, the rainfall being one inch and twenty
Longview, Texas.—There has been rain on two days of hundredths. The thermometer has
averaged 78, the highest
the week, the precipitation reaching ninety-seven hundredths
62.
being
93
and
the
lowest
of an inch.
The thermometer has ranged from 50 to 94,
Charleston, South Carolina.—There has been rain on three
averaging 72.
of the past week to the extent of fifty-seven hundredths
Luling, Texas.—There has been rain on two days during days
of an inch.
The thermometer has averaged 78, ranging from
the week, the precipitation being one inch and
twenty-one 69 to 86.
hundredths.
Average thermometer 73, highest 92 and
lowest 54.
Greenville, South Carolina.—We have had rain on two days
Nacogdoches, Texas.—There has been rain on four days during the past week, the rainfall being fifty-five hundredths
the past week.
The rainfall reached two inches and twenty- of an inch. The thermometer has ranged from 59 to 91,
seven hundredths.
The thermometer h^s averaged 72, the averaging 75.
*
highest being 92 and the lowest 51.
Spartanburg, South Carolina.—It has rained on two days
Palestine, Texas.—Rain has fallen on three days of the of the week, the precipitation being ninety-nine hundredths
past week, the rainfall reaching one inch and four hundredths. of an inch. Average thermometer 77, highest 97, lowest 58.
The thermometer has averaged 71, ranging from 50 to 92.
Charlotte, North Carolina.—Planters are selling freely.
Paris, Texas.—We have had rain on three days during the There has been rain on two days during the week, the pre¬
week, the rainfall being twenty-four hundredths of an inch. cipitation reaching fifty-three hundredths of an inch. The
The thermometer has ranged from 45 to 96, averaging 71.
thermometer has averaged 73, the highest being 91 and
the
San Antonio, Texas.—We have had rain on two days of lowest 61.
th6 week, the rainfall being one inch and sixty-six hun¬
Greensboro, North Carolina.—Rain has fallen on one day
dredths. Average thermometer 63, highest 72, lowest 54.
the past week, the rainfall
reaching fifteen hundtedths of an
;
Taylor, Texas.—We have had rain on two days of the inch/ The thermometer has averaged 74, ranging from 56
week, the rainfall being one inch and fourteen hundredths.. to ,91.
-yd ■ • I
—
@
—
—
@
—
—
@
—
—
@
—
—
@
—
13.85-.87 14.16-.19 14.19-.21 14.10-.il 14.31-.33 14.49-.51
—
thermometer 70,
—
—
—
—
„
4
'
-
THE CHRONICLE
[Vob.
WORLD’S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
1909.
1910.
Week.
Visible supply Sept. 30
Visible supply Sept, l
553,037
8,000
7,000
27,000
6,000
1,931.022
2,052,757
23,000
37,000
54,000
18,000
3,278,353 3,094,066
4,115,779
1,495,514
454,388 1,635,839
3,000 ;
21,000
24,000
4,000
34,000
71,000
31,000
12,000
sight to Oct. 7_.
Bombay receipts to Oct. 6...
Other India snip’ts to Oct. 6.
Alexandria receipts to Oct. 5.
Other supply to Oct. 5_a—Total supply
2,397,693
Deduct—
Visible supply Oct. 7.—.
Total takings to Oct. 7
Of which American
Of which other
•
2,146,531
251.162
192.162
59,000
...
'
2,146,531 2,789,959
2,789,959
304.107
241.107
63,000
1,325,820
1,089,820
236,000
1,131,822
851,822
280,090
Embraces receipts in Europe from Brazil. Smyrna. West
.bales
Indies,"Sfec.
INDIA COTTON MOVEMENT FROM ALL PORTS.
1909.
20,524
7,620
926,908
619,453
375,820
148,609
133,000
...
ks
2,493,029
1,890,305-
American in
Season.
Week.
Season.
1910.
Gross overland for September
Net overland for September....
Port receipts in September
Exports in September
si
JL co
Overland to Canada in September (Ineluded in net overland)
Burnt North and South In September
Stock at North, interior markets Sept. 30
Came in sight during September.
Came In sight balance season.
~
LXXXXI
13,549
7,120
1,087,386
655.450
485,990
91,590
225,000
3,297
1910.
‘S', 591
1,181,451
Since
Receipts at—
Week.
Sept. 1.
3.000
Bombay
Since
Week.
Total crop
21,000
For the Week.
Exports
from—
Sept. 1.
8,000
23,000
3,940
1,786
9,566
11,406
1,427.506
reached
up
292,976 bales. The shipments in detail,
from mail and telegraphic returns, are as follows:
29,000
28
To
To
To
To
To
To
To
To
Since September 1.
Great
Conti¬ Japan 1
Britain. nent. dcChina Total.
Conti¬
Great
Britain.
Japan
China.
&
nent.
Total.
Bombay—
1910
1909
1908
Calcutta—
1910
1909
1908
Madras—
1910
1909
1908
All others—
1910
1909.....
1908
Total all—
1910
1909
1908
12,000
2,000
9,000 10.000
%
—
*
-
.
_
.
-
-
•
.
.
12,000
2,000
19,000
.
....
....
....
1,000
51,000
17,000
38,000
1,000
1,000
3,000
3,000
4,000
......
■
1.000
-
•
•
•
....
1,000
1,000
....
1.000
1.000
....
....
....
....
....
....
8.000
8,000
24,000
3,000
1,000
4,000
5,000
......
3,000
4,000
5,000
......
60.000
26,000
62,000
3,000
5,000
6,000
1.666
*
1,000
2,000
6,000
4,000
....
1,000
....
15,000
9,000
13,000
..
3,000
6.000
5,000
1,000
2,000
2,000
17.000
26,000
30,000
15,000
2,000
4,000
4,000
74,000
50,000
77,000
.^
1.000
....
J.
.
9,000
.
11.000 24,000
ALEXANDRIA RECEIPTS
Alexandria, Egypt,
October 5.
18,000
28.000
35,000
3,666
8,000
84,000
63.000
108,000
9,000
27,060!
AND SHIPMENTS.
1910.
1909.
269,000
535,257
195,000
1908.
Receipts (cantars)—
This week
Since Sept. 1
This
Since
Exports (bales)—
Week.
Sept. 1.
To Liverpool
To Manchester
To Continent
To America
6,250
-3,750
6,000
12,750
6,500
17,29 7
2,100
fS-
600
110,000
218,544
Total bales.
402,186
This
Since
Week. Sept. 1.
Since
This
Week. Sept. 1.
6,000
14,608
4*,750
18,459
2,000
1.500
5.500
600
2,249
600
5,226
3,000
18.909
1.298
38,647 11,350
35,816
9,600
28.433
500
16,600
MANCHESTER MARKET.—Our report received
by cable
to-night from Manchester states that the market is quiet for
both yarns and shirtings.
Merchants are not willing to pay
Sresentforprices.
Weweeks
give the
prices
forlastto-day
and leave
previous
of this
and
year below
for comparison:
i use
8X lbs. Shirt- Cot’n
MU.
inns, common
to finest.
Upl’s
32s Cop
Twist.
d.
1909.
d. s. d.
s.
d.
8X
U>s. Shirt¬
ings, common
to finest.
32s Cop
Twist.
d.
d.
s.
d.
s.
d.
Cot'n
Mid
UpTs
d.
Aug
19
26
10 H
10}$
@
@
11V* 5
11H 5
6
@10 7J$
6}$@10 8
8.26 9}$
@
8.14 9 3-16 <§>
5
5
5
5
5
6
7.97 9 6-16 @
8.01 9 7-16 @
7.98 9}$
@
7.82 9
@
1.1 H 5
7
EMgt 10 H
9
16
23
30
Oct
7
@ 11X
@
nx
n v*
10}$
@
109-16(3115-16
10H @115-16
10 X
10}$
@
@10
6}$@ io
6
@10
6
@10
6
@10
8
m
7}$
7}$
7X
@10 9
7.61 9
K7.88 93$
@
9 H 4 10}$@9
9X 4 11
@9
3
4
6 67
6.73
10
6
io x 5
10H 6
10H 5
10}$ 5
@9
@9
1}$@9
2
@9
3
@9
5
6
6
9
6.88
6.83
6.93
7.31
7.29
10}$ 5
3H@9
9
7.27
0
1
7«
THE AGRICULTURAL DEPARTMENT'S REPORT
FOR SEPT. 25.—The Agricultural Department's
report on
•otton for Sept. 25 was issued Oct. 3 as follows:
The
Crop Reporting Board of the Bureau of Statistics of the United States
of Agriculture estimates, from the reports of the correspondents
Department
and agents of the Bureau, that the average condition of the cotton crop
on Sept. 25 was 65.9% of a normal, as compared with 72.1 on
Aug. 25 1910,
58.5 on Sept. 25 1909, 69.7 on Sept. 25 1908, and 66.6 the average of the
past ten years on Sept. 25.
Comparisons of conditions by States follow:
ug. 25
September 25
States—
1910.
Virginia
North Carolina
South Carolina
78
72
70
Georgia
68
Florida
Alabama
66
67
Mississippi
63
Louisiana
Texas
Arkansas
Tennessee
Missouri
Oklahoma
51
63
68
73
75
70
90
California
United States..
65.9
COTTON CONSUMPTION
MENT FOR MONTH OF
present a
of
synopsis of the
September for three
1910.
82
76
73
71
74
72
71
60
69
78
78
78
85
95
1909.
72.1
58.5
71
70
70
*71
67
62
53
39
52
54
68
72
55
1908. 10vr.Av
78
69
68
71
72
70
70
55
71
70
78
70
70
74
71
70
71
70
66
67
64
62
67
69.7
66.6
--
AND OVERLAND MOVE¬
SEPTEMBER.—Below we
crop movement for the month
years:
upland
10,470
500
2,551
800
1,700
737
300
200
400
64,480
29,053
23,955
1,950
2,750
1,700
4,300
5,696
6,963
15,500
1,200
2,850
1,766
300
100
21,988
3,680
3,600
20,931
Gothenb
CHARLESTON-
WILMINGTON—To Bremen—Oct. 4—Hllimere, 14,041
A
14,041
To Genoa—Oct. 1—Arlon, 3,000
3,000
To Flume—Oct. 1—Arlon, 2,200
2,200
BOSTON—To Liverpool—Oct. 3—Cymric, 4,572
4,572
To St. John—Sept. 28—Calvin Austin, 149.
149
To Yarmouth—Sept. 24—Prince George, 356
356
BALTIMORE—To Bremen—Oct. 5—Cassel, 4,802j
4,802
PHILADELPHIA—To Liverpool—Sept. 30—Haverford, 5,034...
5,034
I...
292,976
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week's sales, stocks, &c., at that port:
Sales of the week
Sept. 16.
24,000
Sept. 23.
30,000
1,000
18,000
4,000
48,000
.276,000
.198,000
29,000
23,000
.100,000
74,000
1,000
1,000
25,000
1,000
51,000
271,000
190,000
48.000
35,000
148,000
109,000
bales
Of which speculators took.
Of which exporters took
Sales, American
_
-
-
Actual export
_
.
Total stock—Estimated
Of which American
'
Total imports of the week
Of which American
Amount afloat
Of which American
.
.
.
Sept. 30.
Oct. 7
33.000
1,000
1,000
26,000
3,000
46,000
275,000
197,000
53,000
46,000
246,000
62,000
1,000
2,000
53,000
3,000
56,000
280,000
207,000
62,000
53,000
350,000
315,000
210,000
The tone 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:
Saturday.
Spot.
Market,
12:15
P. M.
)
)
J
opened
Market,
P. M.
\
J
Wednesday. Thursday.
Good
demand.
doing.
Quieter.
Moderate
demand.
Friday.
Good
inquiry.
7.67
7.74
7.65
7.76
7.7Q
7.88
7.000
20,000
12,000
6,000
8,000
8,000
300
500
300
300
300
300
Spec.&exp.
Futures.
Market
Good
business
Moderate
demand.
Mid. Upl’ds
Sales
Tuesday.
Monday.
Steady at
4}$@7}$
pts. dec.
Irregular
at 5@10
pts. adv.
Steady at
1}$@3}$
pts. adv.
Steady at
Steady at
1@3 pts.
5@7 pts.
Steady at
3@6 pts.
decline.
decline.
advance.
Firm at
2@4 pts.
Strong at
10@12}$
advance.
pts. adv.
Firm at
St'dy unch.
1 Stfdy unch. Quiet at
to 2 }$ pts. 6}$@10}$ 7@9}$ pts. to 1 }$ pts.
advance.
advance.
decline.
pts. adv.
J
The
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
below.
Thus: 7 41 means 7 41-100d.
Tues.
Mon.
Sat.
Oct. 1
Wed.
Thurs.
Fri.
to
12 X
p.m.
Oct. 7.
12 X
p.m.
72
74
69
150
5,471
Barcelona—Oct. 6—Manuel Calvo, 800
Genoa—Sept. 30—Koenlgen Lulse, 1,700
Naples—Sept. 30—Koenlgen Lulse, 737
Venice—Sept. 30—Atlanta, 200—Oct. 4—Oceania, 100
Trieste—Oct. 4—Oceania, 200
Forwarded
1910.
857
Bremen—Oct. 5—Kurfurst, 500
Antwerp—Sept. 30—Vaderland, 2,551
Total
.1
Total exports
foreign
18,366
2,579
Piraeus—Sept. 30—Athlnal. 400
GALVESTON—To Liverpool—Sept. 29—Bernard, 7,612—Sept. 30
—Mechanician, 16,981; William Cliff, 5,838—Oct. 5—Castano, 11,095—Oct. 6—Victorian, 22,954
To Havre—Sept. 29—St. Oswald, 10,870—Sept. 30—Masconomo, 10925—Oct. 5—Horace, 7,258
To Bremen—Sept. 29—St. Leonards, 9,447; Inkula. 14,508._
To Antwerp—Oct. 4—Thurland Castle, 1,950
To Ghent—Oct. 4—Thurland Castle, 2,750
To St. Petersburg—Sept. 29—Glenarm Head, 1,700
To Narva—Sept. 29—Glenarm Head. 4,300...,
To Genoa—Sept. 30—Agnello Clam pa, 5,696
TEXAS CITY—To Liverpool—Sept. 30—Santanderlno, 6,963
NEW ORLEANS—To Liverpool—Oct. 7—Barbadian, 5,500; Com¬
modore, 10,000
To Bremen—Oct. 7—Miltonian, 1,200
To Oporto—Sept. 30—Miguel M. Plnlllos, 2,850
To Barcelona—Sept. 30—Miguel M. Plnlllos, 1,016—Oct. 5
—Irene, 750
To Trieste—Oct. 5—Irene, 300
To Venice—Oct. 5—Irene, 100
SAVANNAH—To Liverpool—Sept. 30—Earl of Douglas, 12,825
—Oct. 5—Jevlngton, 9,163
To Manchester—Oct. 5—Thimbleby, 3,680
To Havre—Oct. 6—Glorlana, 3,600
;
To Bremen—Sept. 30—Glenesk, 4,159; Indramayo, 10298;
Voorburg, 2,000—Oct. 5—Ordunto Mende, 6,474
o Hamburi
_o
made
as
Liverpool—Sept. 30—Baltic, 14,007; Caronia,
4,359
To Manchester—Sept. 30—Cervantes, 2,579
To Hull—Sept. 30—Marengo, 857...
To London—Sept. 30—Mlnnewaska, 150
To Havre—Sept. 30—Chicago, 4,971; Floride,
Sept. 1.
7,000
92,387
168,000
SHIPPING NEWS.—As shown on a previous page, the
exports of cotton from the United States the past week have
Since
Week.
584,262
459,845
1,276,257
9,223.455 12,532.589
10.650,961 13,829,846
523.57
520.17
521.51
499.57
496.17
497.51
Average aross weight of bales
Average net weight of bales
NEW YORK—To
1908.
1909.
24,715
18,770
934,487
"
-
Oetober 6.
1908.
October.
Oct.-Nov_
Nov.-Dee.
Dec.-J&n
Jan .-Feb
Feb.-Mch.
_
Mch.-Apr.
Apr.-May.
May-June
June-July
July-Aug.
7
7
7
7
7
7
7
7
7
7
7
41
27
24
22 X
22}$
23}$
25}$
25 X
26 X
24}$
22 X
4
12 X
4
6
12 X
4
12 X
4
12X
12H
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
50
47 X 41
36}$ 35}$
33
33}$
32
32 }$
32
32}$
33
33}$
35
35 }$
35 H
35
35}$ 37
23}$ 35
81 X 33
34}$
32
32
32}$
55
44
40}$
40}$
41
42}$
34
36}$ 45
36}$ 45
37}$ 46
35}$ 44
38 H 42
52
55
46}$
41}$ 45}$ 37}$
34
36}$ 42
34
36}$ 42
37
42 X 35
38}$ 44
36}$
46 H 39
41
46
41
41 H 47
39}$ 45
37}$ 43
H 39
40
38
136
57
63}$ 67
48}$ 57
45
45
46
53
53
53
47}$ 55
50
57
50
57
31
49
47
H
61
57
57
58
59}$
61}$
61 X
58
62 X
56
4b
54 X 59
X
Oct. 4$ 1910. j
THE CHRONICLE
BRBADSTUFFS.
'
DAILY CLOSING PRICES OF OATS IN NEW
YORK.
■
Sat- Mon. Tues.
Wed.
Thurs.
Fri.
38 X
38 X
89 40
'
40
49
White, clipped, 84 to 36 lbs. 39-42 39-42 39J4-42 39X-42
39-42
39-42
DAILY CLOSING PRICES OF OATS FUTURES IN
CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
December delivery In elevator— > 32 H “ 32
33 X
33 H
32 X
3214
May delivery in elevator-—
35X 35X
36X 30K 86
35K
_
.
Flour has shown
more
No. 2 white
Friday Nighti Oct. 7 1910.
steadiness of late and
some
descrip¬
tions have even been actually firm, in sympathy with an
advance in wheat. Trade, while it has not been at all active,
has been rather better than it was recently, and in some
brands a fair business has taken place.
It is felt, however,
that the future of prices hinges as usual on the course of
Quotations
show
foranticipate
wheat. V Infuture
the wants
meantime
isposition to
on a buyers
large scale.
no
Wheat has lately advanced, partly owing to the fact that
the market has become prematurely oversold and that a
rally, even if only temporary, was due after some weeks of
971
w
-----
■
The
following
are
FLOUR.
Winter, low trades
Winter patents
Winter straights
Winter clears
closing quotations:
|3 25 < $3 90 Kansas straights, sack.14
6 25 Kansas dears, sacks
5 90 <
4
4 50(
4 95 City patents
5
4 10<
4 25 Rye flow ............ 4
00® $5 10
00® 4 23
75® 6 00
05® 4 40
5 85 Grahath Sour
3 90® 4 00
5 25 Corn meal, kiln dried.. 3
25® 8 30
_____
Spring patents....
Sprint straights
Sprint dean
5 50(
5 00f
4 40(
...
4 65
GRAIN.
per bushel—
Corn, per bushel—
Cents.
uninterrupted decline. Also, reports have been Wheat,
N. Spring, No. 1
.31 22
No. 2 mixed
dev.
59 X
received from Argentina that the crop in that country had
N. Spring, No. 2
1 20
No. 2 mixed
f.o.b.
5914
Red winter. No. 2
been greatly damaged by drought. It has even been said
1 0214
No. 2 white
f.o.b.
Nominal
Hard winter. No. 2
1 08 X Rye, per bushel—
that u the acreage of Argentina has been increased
per bushel, new—
Cents.
No. 2 Western. __f.e.b.
15%, Oats,
Nominal
Standards
the crop, through prolonged dry weather, has been
39 H
State and Jersey
Nominal
damaged
No. 2 white
40
Bariey--Maltlnt
N minal
fully 25%. As is well known, it is not always the acreage
No. 3 white
39
Feeding. 0.1 X.. N. T..
Nominal
which makes the crop. The weather must be favorable.
It is a truism that sometimes a larger crop is raised on a The statement of the movement of breadstuffs to market
below are prepared by us from
figures collected by
relatively small acreage with good weather than on a big indicated
the New York Produce
Exchange.
The
receipts
at Western
acreage with bad weather. Flax seed in Argentina is said
to have been damaged 50%, and at Duluth it advanced the lake and river ports for the week ending last Saturday and
other dav 15 cents.
Primary receipts of wheat have at
times of late been less than half those for the
corresponding Receipts at— Flour.
Wheat.
Com.
Oats.
Barley. »!
Bye.
days last year. Chicago stocks of contract wheat are only
an
almost
_
.
....
.
*
...
.....
......
5,967,000
bushels, against 11,356,000 bushels last year.
increase in the world's available
The
supplies last week was some
11,000,000 bushels less than during the same week last year,
fact on
which
more
stress
was
the
fact
that
world's
stocks
are
000
bushels
larger than at this
The Liverpool market, however, has
a
laid
over
time
than
on
40,000,last year.
undoubtedly been
stronger under the influence of the Argentina alarmist re¬
ports and the covering of shorts. On the other hand, there
is a strong
impression in some quarters that damage to the
crop in Argentina, if any, is greatly exaggerated for specu¬
lative effect.
Similar stories are put in circulation every
bbls.imbs. bush. 60 tbs. bush. 66 lbs. bush. 82 lbs. bush.48lbs.
bu.66 lbs.
188,012
541,200
2,555,750
1,499,400
453.000
Chicago
Milwaukee..
Duluth.....
67,550
14,710
853,420
1.614,934
3.712.800
150,000
96,256
3,383
502,295
Minneapolis.
Toledo
Detroit
Cleveland
St. Louis...
Peoria
Kansas City.
-309,500
150,365
823,820
61.000
80,103
27,000
1.282.800
29,199
345.100
169,000
36.000
7,284.088
11,551,780
12.194,829
3,850,453
3,682,938
2,025,394
52,930
49,800
"377,063
727,584
579,132
-
18,096
254.465
248,500
222,000
616
Total wk. ’10
Same wk. '09
Samewk. ’08
01,109
80,940
85,900
193,123
3,445
..
100,570
16,000
14,280
896,600
.
654.973
*U;440
4,809
62,960
1,000
"
§8,800
62.200
4 ,400
3,632.577 2,356,913
3,847,082 3.490,768
5,524,352 4.020.241
110.049
214,105
248,687
6,600
Since Aug. 1
1910
3,272,770
74,324.652 34,507,118 55,819,705 11,903,100 1,407,915
That the market at home and abroad had become
1909..... 4,677,600 69,137,277 30,307,026 41,682.458
15.677,025 1,855,478
1908
4,120,644 74,823,605 23,608,790 43,313,201 24,803,523
oversold, however, is very generally conceded. Many con¬
1,923,298
servative people look upon the rise as traceable to this fact
Total receipts of flour and grain at the seaboard
ports for
alone.
It is true that the receipts at our
primary Western * the week ended Oct. 1 1910 follow:
markets are small, but so are the shipments.
Flour,
Wheat,
Com,
Oats.
Export trade Receipts at—
Barley,
Rye.
is still dull.
bbls.
bush.
bush.
To-day the market was narrow and sluggish.
bush.
bush.
hush.
207,050
426,400
230,775
As a rule fluctuations were
685,350
1,275
3,450
unimportant, although there was
31,104
3,008
66,078
69,900
17,836
1,070
a slightly weaker trend in the main.
58,288
Holders showed an
88,783
71,350
60,033
60,987
82,512
inclination to unload, largely because cables were
-86,492
54,521
33,669
season.
discourag¬
ing. Apparently* importers in Europe have little faith in
the damage reports from Argentina.
Then, too, the world’s
exports for the week promise to be about 16,000,000 bushels,
an increase of,
roundly, 1,500,000 bushels compared with
the previous week.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW
YORK.
Sat.
No. 2 red winter, f. o. b
December delivery in elevator
May delivery In elevator
Mon.
Tues.
Wed. Thurs. Fri.
10IX 101 X 101 X 103 X 103
102 H
104 X 104 X 105
106 X 106
106 X
108 X 108 X 100X 111 X 110 ^ 110 X
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
Mon.
delivery In elevator.... 97
96 X
delivery In elevator..
102 X 102 X
December
May
July delivery In elevator
Indian
corn
08X
----
has at times shown
Tues.
Wed. Thurs. Fri.
08X
97X
08 X
08X
103X 104 X 104 X 104X
98 X 100 X
00X 00 X
more
strength, prin¬
-
Richmond
New Orleans *
4,358
16,470
4,999
4,607
Newport News.
Norfolk
Galveston
Mobile
•
2,276
37,491
20.900
15,700
,37,744
85,000
28,478
80.009
31,000
4,000
8,378
156,300
309,126
517,342
Total week 1910.
426,624 1,185,645
Since Jan. 11910.13,248,885 51,012,608
Week 1909
498,358 3,465,748
Since Jan. 11909.11,737,553 58,173,661
*
on
1,267,408
58,747
30,453,879 37,886,756 2,430,635
395,565
951,577
*47,942
31,851,685 35,794.3714.364,835
Sat.
Cash corn
December delivery In elevator
60
57
*..
May delivery In elevator-.
..
X
60X
Mon.
59 X
Tues.
60
60X
57 X
609^
58 X
61 X
61X
Wed. Thurs. Fri.
58 X
60
58 X
61 X
59 X
57 X
50X
DAILY CLOSING PRICES OF CORN FUTURES IN
CHICAGO.
Sat.
December delivery in elevator
May delivery in elevator
July delivery in elevator
-
49^
52 X
53 X
Mon.
49 X
52 X
Tues.
50
53
--*T
Wed. Thurs. Fri.
50 X
49 X
49 X
53 X
52 X
52 X
53
Oats, like other grain, had become oversold by confident
bears everywhere, and have therefore shown a
tendency to
advance, even if only temporarily, under the influence of
covering of shorts. Cash prices have been noticeably strong,
though at Chicago the total stock is 13,560,000 bushels,
against 7,718,000 bushels a year ago. Under the strength
encouragement, however, Chicago operators again put out
big short lines. It is believed that the crop is very large
and that prices must ultimately decline.
‘
;
To-day the market was dull and flat, with offerings fairly
heavy and support feeble, owing to ample receipts and the
good outlook for corn.
6,520
599,980
53,714
760,389
Receipts do not include grain passing through New Orleans for
foreign ports
through bills of lading.
The exports from the several seaboard
ports for the week
ending Oct. 1 1910 are shown in the annexed statement:
Exports from—
New York
Boston
Wheat,
Com,
bush.
Flour,
bush.
2 40.841
Oats.
bbls.
bush.
500
186,142
90,614
26,000
1,200
94,790
8,552
44,000
Rys.
bush.
-
“
9,968
746,117
42,000
cipally owing to reports of wet weather in the West and Philadelphia
Baltimore...
231,200
52,381
covering of shorts. Rains have occurred over most of the New Orleans
24,000
126,000 17,000
400
belt.
Whether they have really done any harm or not is Newport News
4,999
Galveston
1,155
not altogether clear.
In any case it is likely to be exag¬ Mobile
8,378
2,270
gerated. The Iowa crop is officially stated at 300,000,000 Montreal
608,000
151,000 34,000
28,000
4,607
bushels, against 290,000,000 last year; but country offerings Norfolk
have latterly been smaller and cash prices have
Total week
1,091,342
644,033 263,754
28,900
accordingly
2,593.592
144,428 252,848
been stronger. Also the speculative market, like that for Week 1909
15.717
The destination of these
wheat, had become heavily oversold from the fact that
exports for the
everybody was, and for that matter is still, a bear. To¬ July 1 1910 is as below:
’Flour
Wheat
day there was a downward trend. There was more pressure
Since
Since
to sell, prompted by favorable weather West and
Week
1
July
Week
July 1
satisfactory Exports for week and Oct. 1.
1910.
Oct.
1.
1910.
crop reports.
It was the consensus that the crop was out of
since July 1 to—
bbls.
bbls:
bush.
bush.
danger and would exceed 2,950,000,000 bushels. Some United Kingdom 107,168 799,834 650,411
6,887,196
Continent
claim it will reach 3,000,000,000 bushels.
..103,983
368,920
434,451 3,777,643
Sou. & Cent. Amer. 30,149
240,705
6,480
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW
YORK.
2,000
West Indies
Brit. Nor. Am. Cols.
Other Countries
Total....
Total
1909
15,504
6,950
85,449
266,876
31,308
31,356
Barley,
bush.
bush.
1,991
16,986
16,986
14,096
1,991
1,790
week and since
Com-
Since
Week
Oct. 1.
bush.
July 1
125,000
380,581
112,240
26,212
923,428
684,959
1,222,734
644,033
3,201,248
1.679.749
5,000
...263,754 1,738,999 1,091,342 10.755,288
252,848 2,060,224 2.593,592 19,482,554
Peas,
144.428
1910.
bush.
358,538
5,000
6,589
The world’s shipments of wheat and corn for
the week
ending Oct. 1 1910 and since July 1 1910 and 1909 are
shown in the
following:
Wheat.
1910.
Week
Oct. 1.
Bushels.
North Amer. 2,560,000
Russian.... 5,608,000
Since
Com.
1909.
1910.
JtUy 1.
Since
July 1.
Week
Oct. 1.
Since
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
20.475,000 30,389,000 544,000
59,088.000 49,616,000
16,000
Argentine
976,000 14.768.000 11.664,000 4,029.000
Danubian
2.968.000 33,840.000
7,872,000
51,000
Indian
992,000 15,872,000
r
Australian.. 1,096,000
9.384,000
Oth. countr’s
344,000
2,398.000
::::::
..
..
.....
Total
....
1909.
Since
S|
3,736,000
2,480.000
44.493,000
8.792.00Q
J23.548.000 1
14544000 155.825.000 123,089.000 4,640,00Q
59,501,000
July X.
Bushels.
1.517.000
5,161,000
39.154.000
6.503.000
'■**"*'•*
<W
52,336,000
THE CHRONICLE
972
(VOL.
*i
--
The
quantity of wheat and
afloat for Europe on dates
corn
Com.
Wheat.
United
Waited
Kingdom.
Oet.
Continent.
Total.
Bushel*.
Bushels.
Bushel*.
1 1910. 14,904,000 23.512.000 38.416.000
fkBPt. 24 1910. 18,560,000 21.840,000 40,400,000
Oct.
Oet.
Oet.
2 1909. 10,880,000 13,840,000 24.720.000
8 1908 15,120,000 16,640.000 31,760,000
5 1907. 18.860,000 16,320,000 i34.680.000
The visible supply
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
7.599,000 11,390,000 18,989,000
11,135,000 9,435.000 20,570,000
6,375,000 5,865.000 12,240,000
6,630,000 5.780.000 12.410,000
7,720,000 3,480,000 11,200.000
of grain, comprising i
granary at principal points of accumulation
seaboard ports Oct. 1 1910, was as follows:
AMERICAN GRAIN STOCKS.
Oats,
Com,
Wheat,
bush.
bush.
bush.
506.000
New York
198,000
1,784,000
3,000
52,000
Boston ..I...
6,000
64,000
20.000
Philadelphia
827.000
191,000
Baltimore
1.446,000
107,000
172,000
New Orleans
60,000
5,000
215.000
Galveston....
1,543,000
863.000
Buffalo..-.-.
2,168,000
482.000
60,000
Toledo
203.000
157,000
Detroit
7.601.000
603,000
6,483,000
Chicago-.:...
448,000
175.000
Milwaukee
349.000
901,000
31,000
126,000
2,932,000
7,253,000
Minneapolis
524,000
250.000
St. Louis
2,151,000
205,000
363,000
Kansas City..
4,351,000
1,828.000
Peoria.
31,000
12,000
186,000
332.000
Indianapolis..
115,000
On.Lakes
1,264.000
372,000
584,000
202,000
On Canal and River...
—
...
.
...
at lake and
Rye,
bush.
13,000
53.000
55,000
1,000
20,000
16,000
26,000
15,000
7,000
45,000
152,000
4,000
175,000
.
...
—
........
.
70.000
797,000
510.000
11,000
*
—
.
699,000
128,000
11910—34,968.000
5,041,000 18,801,000
Total Oct.
Total Sent. 241910 -32,243,000
4,638,000 18.860.000
2 1909—19.442,000
Total Oct.
8,367,000 12,801,000
CANADIAN GRAIN STOCKS.
Oats,
Com,
Wheat,
353,000
319,000
458,000
2,444.000
1,836,000
3,593.000
Rye,
Barley,
bush.
Montreal
....
Wort William
Port. Arthur
bush.
bush.
732,000
3,583,000
167.000
656,000
39,000
656,000
693,000
195,000
39,000
46.000
47,000
1.978.000
ftf)4.0fl0
Other Pan aril an
167,000
99,000
48,000
SUMMARY.
Com,
Wheat,
11910- 6,897,000
Total Oct.
Total Sept. 24 1910
4,198,000
21909— 7.494,000
Total Oct.
—
American
Canadian
otal
Total
Total
Total
bush.
bush.
...
Barley,
Oats,
Rye,
bush.
bush.
bush.
bush.
bush.
34,968,000
6,897,000
5,041,000
167,000
18.801.000
656,000
353,000
2,444.000
5,208,000
4,737,000
3,415,000
3,577,000
19.457.000
19,553,000
12,996,000
7,792,000
353,000
319,000
458,000
795,000
2,483,000
1.882,000
3,640,000
6,090,000
1 1910—41,865,000
Oct.
Sept. 24 1910- .36.441,000
2 1909.-26,936,000
Oct.
Oct
3 1908—34.281,000
39,000
THE DRY GOODS TRADE.
New York, Friday Nighty Oct. 7 1910.
General market sentiment shows an improvement, most
noticeable in the cotton goods division.
The last Govern¬
ment report on cotton-crop conditions appears to have
'
LXXXXI.
f
/i.>
.
-<-
t
While no higher prices are quoted on regular lines of
brown sheetings and drills, buyers find it more difficult to do
business on last week's basis and the tone is distinctly firmer.
Ducks are also firmer with a shortening of discounts an¬
nounced in some quarters.
Heavy colored cottons are quiet
but in limited supply, and quite steady.
Small sales of
light-weight brown sheetings have been made to the Red
Sea and of ducks to South American markets.
The Manila
demand, in which prints figure prominently, continues the
chief feature of the export trade.
Sub-count prints to retail
at 5c. per yard have firmly established their position, good
orders for these continuing to come forward for future
delivery. Prices on leading lines of bleached cottons which
were guaranteed up to October first remain unchanged with
the probability that the next prices named will show an
advance rather than the decline upon which some buyers
have been counting.
There is a falling off in the demand
for dress ginghams and fine woven patterned fabrics, but
after the very extensive business done in these such a slack¬
ening is only natural. These goods are in a very firm posi¬
tion.
Napped fabrics are in moderate request and the call
for cotton linings has been of an irregular character. Greater
interest has been shown in print cloth yarn fabrics than for
some timepast, a good business being reported at
advancing
prices.
Wide makes have been in chief request and 38fl¬
inch 64 squares are now quoted at 5}£c. per
5c. a week ago.
WOOLEN GOODS.—The intervention of
yard, against
the
Hebrew
holidays and the continued mild weather have affected the
demand for all descriptions of woolen and worsted fabrics,
only a moderate business being transacted. The shortening
of discounts on certain men's wear goods, previously referred
to, has been followed by an advance of 5c. per yard on some
leading makes of cheviots. Staple and fancy worsteds are
still in chief
request for the spring trade. The call for im¬
mediate deliveries of heavy-weights is below normal for the
time of year.
In dress goods expansion in buying proceeds
slowly, but under the conditions above referred to the
week's trade is regarded as generally satisfactory.
The
prices quoted on some all-wool lines for spring are low
enough to be attractive as the season progresses.
FOREIGN DRY GOODS.—Moderate sales are reported
in woolens and worsteds for men's wear and in dress goods,
with a generally steady market.
The improvement recently
noted in the call for piece silks is maintained and a fairly
pood business in ribbons reported.
The market for linens
quieter than of late so far as new business coming forward
is concerned, but the tone shows no loss of strength.
In
burlaps a fair trade is reported with an occasional slight
advance secured on heavyweights.
is
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Oct. 1 1910 and since
wakened, if not altogether dispelled, hopes entertained by Jan. 1
1910, and for the corresponding periods of last year,
buyers that the price of raw material might fall to the level are as follows:
enabling manufacturers to resume full production without
enhancement in the prices of goods; as a result, the demand
this week has widened on some staple lines for immediate
and near deliveries and more disposition has been shown
to place orders running into next year.
The response from
sellers is guarded,even where they are able to secure some
advance in prices on which they were willing to do business
quite recently; with a less reserved attitude on their part,
tne week's transactions would probably have made up a
very considerable volume.
Some-time idle mills are re¬
ported as again going into active operation and in others
where the output has been cut down it has again been raised
to normal; nevertheless the curtailment is still severe and
by good authorities it is estimated that the cut-down in the
output of Southern mills is still as great as 50%. Some
time ago the market took an upward turn but failed to
maintain the advances secured.
This week's trend towards
wears a more assured appearance.
A number
of second-hand stocks which were a weakening factor then
have now disappeared and stocks held in first hands of all
higher level
a
descriptions
are
reduced to quite restricted
The
compass.
mills are thus relieved from pressure of unsold supplies
and from outside competition by holders entering the market
sellers against them. The improvement may develop
slowly, but it appears to be a fair assumption that it will
develop surely. The woolen and worsted goods division
has been affected to some extent by the mild weather so far
as demand goes, but the general tone continues steady.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Oct. 1 were 2,117
packages, valued at $144,584, their destination being to the
points specified in the table below:
as
1910
New York to Oct. 1-
Great Britain
Other European
Arabia.
Africa
70
.
Mexico
Central
America
.
Other s countries.
Tbtal
'
j,
183
43
174
1,427
201
1,569
716
57,051
9,813
9,936
5.603
21.537
1.533
9,232
35,664
34,552
2,117 187,206
-1909Since
Jan. 1.
Week.
52
1,441
808
24
;
50
555
770
62
469
1,897
385
155,321
12,597
23,974
12,544
31.382
1,280
10,834
40,897
14.444
4,264 305,622
The value of these New York exports since Jan. 1 has
been
Week.
6
13
Since
Jan. 1.
$12,852,090 in 1910, against $16,516,802 in 1909.
State ahp City p£fAmvr£WT.
Subscription—Payable In Advance
'
‘
...$10 00
6 00
:
13 00
7 50
£2 14s.
£1 11 s.
$11 50
mal Subscription in London (including prgtage)
Six Months Subscription in London (including postage).
Canadian
adian Subscription (including postage)
Subscription includes following Supplements—
State and City (semi-annually)
B 'NK AND QUOTATION (monthly)
Electric Railway (3 times yearly)
RAILWAY AND Industrial (quarterly)
convention (yearly)
Banker’
Railway Earnings (monthly)
8899117576..CBeiuaornfcgrybtehsmladmk,n
Terms of
Transient matter per
Advertising—Per Inch Space
$4 20
inch space (14 agate lines)
(S times)
( Two Months
22 00
(13 times)
29 00
standing Bnidn«R*
Months (26
Standing
Business Card*
cards )
< Three
8lx Months
times)
50 00
C Twelve Months (52 times)
87 00
CHICAGO OFFICE—Pliny Bartlett, 51S Monadnock Block; TeL Harrison 401
LONDON OFFICE—Edwards A Smith, 1 Drapers’ Gardens, E. O.
WILLIAH B. DANA
P. O.
i.ox
958.
COMPANY, Publishers,
New York.
Front. Pine and Depeyster Sts.,
MUNICIPAL BOND SALES IN SEPTEMBER.
municipal bonds placed last month was
$17,309,058. During the month $19,649,360 temporary
obligations were also disposed of, but these are excluded, as
usual, from our compilations; and New York City put out
$5,000,000 general fund bonds, which are likewise excluded.
Besides all this, Canadian municipalities in September dis¬
posed of $2,937,836 debentures.
The principal sales made during the month were as follows:
$1,303,810 4s of Buffalo, N. Y. (offered without success at
public sale but taken later by a local banking institution);
$1,000,000 4s, $50,000 5s and $144,500 6s of Portland, Ore.;
$1,000,000 4s of Chicago Sanitary District, Ill.; $400,000 4s
and $400,000 4J^s of Kansas City, Mo.; $730,000 4^s of
Norfolk, Va., and $400,000 4^s of Bergen County, N. J.
Our list also includes $2,129,000 3s of New York City, which
were taken by the sinking fund.
The number of municipalities emitting bonds and the
number of separate issues made during Sept. 1910 were 217
and 306 respectively.
This contrasts with 298 and 403 for
August 1910 and with 345 and 431 for Sept. 1909.
For comparative purposes we add the following table
showing the aggregates for September and the nine months
total
The
for
a
of
series of years:
Month of
Month of
For the
September.
$4,033,899
7,201,593
6,173,665
9,272,691
3,693,457
11,423,212
8,249,347
3,885,137
6,242,952
Nine Mos.
September.
1910
J17.309.058 $226,619,786 1900
272,389,451 1899
1909
23.001.771
1908
•_
243,241,117 1898
34,531*814
199,722,964 1897
1907
47.947,077
153,152,345 1896
1906
8.980.418
141,021.727 1895
1905
9,825,200
197,921,657 1894
1904
10,694,671
111,745,993 1893
1903
8,762,079
117,678,855 1892
1902
9,179,654
99,324,001
1901.,,.. 14,408,056
In the following table we give a list of
the amount of $17,309,058 issued by
In the
case
an
in the
account of the sale is given.
Page.
975-.Alliance,
975.-Alliance,
894.-Altoona. Pa.
816. Amarillo,
975-.Attica, Ii
-.
--
-.
-.
.
..
895. .Auglaize
--
--
..
-_
1920
1920
<11930-1940
L
<11930-1950
1911-1920
1911-1928
4M
1911-1922
4M
1912-1921
4
1930
4
<11920-1930
5
5
4
4
5
4
4M
1930
Avon, Pa
1811-1919
976.-Benton Co. S. D. No. 60, Minn. 6
817.-Benton Co. S. D. No. 32, Wash. 5)4 41915-1930
--
.
County, N. J
4M
665-.BlUngs, Mont
5
Co. S. D. No. 40, Idaho 5
740. .Boise, Idaho
7
5
895.-Boulder, Colo
895_.Bradley Beach, N.J_
6
5
740.-Brady Ind. 6oh. Dlst., Tex
Mich
4)4
N. Y
4
4
N. Y
N. Y
4
740.-Buffalo. N.^__
4
Sob. Dlst., Cal
5)4
895_.Butler Sch. Dlst., Mo
4)4
895__Cambrain Sch. Dlst., Cal
5
—
—
...
Ohio (13 Issues)— 4)4
Ohio (6Issues)
4)4
J 4 )4
County, Ind
1915-1939
41925-1930
41920-1929
1911-1920
1925
1940
4
817.-Champaign County, Ohio
4
(Ill.) Sanitary Dlst..-a 4
601._Chloopee, Mass
4
976_.Cioero, Ind
4)4
741_.Clrolevllle, Ohio
4)4
l9$.^Gitievlll»r 01ilo^
4)4
Sob. Dlst., Cal
5
County, Iowa
6
976_-Clayton Sch. Dlst. No. 114, Ill. 5
-
Amount.
1911-1930
1918-1921
<11915-1930
1916-1920
1911-1920
1911-1920
1919-1922
1912-1930
1911-1927
1911-1920
1917-1920
1914-1918
■
1916-1920
Price.
$3,900\ 103.64
1,500/
260,000
10,000
17,000
100.50
103.15
35,000
102.175
12,000
99.22
25,000
100
10,000
50,000
10,000 f/101.70
100
1,000
100
6,000
101.577
400,000
101.30
20,000
100
1,800
100.568
12,830
100,000 1/99
5,000
<11915-1950
4,000
1913-1935
40,000
1960
1,000,000)
1911-1930
150,000 ^
1911-1915
153,810.1
—
895-.CeUna, Ohio
$97,194,441
95,026,437
83.150,559
106,387,463
56,229,416
92,253,916
90,454,836
40,974,566
63,583,834
September loans to
217 municipalities.
SEPTEMBER BOND SALES.
Rate.
Maturity.
Name.
976.-Cass
For the
Nine Mos:
of each loan reference is made to the page
“Chronicle" where
Rate.
Name.
Page i
818. .Cleveland, Miss.
896
.
Iowa
Wash
.
100
100
100.955
100
100.25
98.783
100.857
102.40
102.412
103.58
100.395
-
-
_
.Dayton, Ohio
.Dayton, Ohio
.Dayton, Ohio
:
.Deaf Smith County, Tex_.
.Deerpark (Town) Union Free
Sch. Dlst. No. 1. N. Y
741. .Donora, Pa
896. .Duluth, Minn
;
977. .Easley, So. Caro
818. .East Cleveland, Ohio,
818_ .East Cleveland, Ohio
741. .Effingham, Ill
;
896. .Ellensburg S. D. No. 3, Wash..
818. .Elmwood Place, Ohio..--.
668. .El Paso, Tex
896. -Enterprise Sch. Dlst., Cal
977- .Essex County, N. Y_.___
977. -Esthervllle, Iowa
i
742. :Euclld, Ohio
742. -Evansville, Wls
...
666.
819819.
819.
666819.
896.
742.
819.
666_
819.
819.
5
AM
A
4
1919-1922
6
1911-1929
1
■
—
— —
«...
—
-1-
5
5
4M
AM
4M
4M
AM
5
5
4M
4H
6
6
6
5
4
„
15,000
375,000
15,000
60,000
10,000
8,383
8,000
30,000
45,000
35,0001
1911-1940
1920
1912-1920
1930
1917-1947
1915-1933
1915-1924
1913-1930
<11930-1950
1915
6
5
100.34
102.29
'
•
^
104.38
100
10,000]
106.222
4,500
19,000
100
5,000
101.375
6,000
4M
4M
744.
100
100.677
103.606
103.79
101.78
101
103.341
8,000
1921-1030 1,060,000
1911-1920
16,500
897.
819.
4
897. .Hamilton, Ohio
5
977.
5
897.
4 M
897.
897, .Hancock County, Ohlo.
AM
6
743.
4
977.
5
977.
5
743.
5
820. _Ira Independent S. D., Tex
5
820.
743. -Jaoksboro Ind. Sch. Dlst., Tex. 5
4
743.
978. .Jersey Ind. Sch. Dlst., Ohio
4M
897. .Johnston City, Tenn. (2 Issues). 5
4
820.
897. Kalamazoo S. D. No. 1, Mlch__ 4M
4
666. .Kansas City, Mo. (3 issues)
6 6. Kansas City, Mo. (8 Issues)
4M
4
978. Kansas City Sch. Dlst., Mo
5
820.
5
820.
5
820.
5
743.
4
898.
5
978. .Leavenworth, Kan.
5
9785
978.
6
743. _Leola Drainage District, Wls
898- _Leon Co. Com. S. D. No.30,Tex. 5
6
744.
7444M
666- .Lexington School Dlst., Ohio._ 4
898. .Lincoln, Neb
898. -London School District, Minn.. 4
9784M
5 M
978-
5
4M
4M
4
5
5
104.79
13,500
100
50,000
100
5,000
101.000
11,886
265,950 X100
•
15,000
108.54
125,000
103.78
16,500
103.34
8,000
100.253
15,000
100.011
01,000
100.375
2,000
15,000 1/100
3,500
10,000
100
5,000
100.10
13,000
10,000
100
150,000
0.800
101.833
15,000
<11925-1950
1921-1940
^
1917
1917
<11920-1930
1915
<11915-1930
1911-1915
<11920-1950
<11915-1950
1911-1930
1911-1915
1930
1930
1930
4M
4M
400,000]
200,000
45,000
1911-1920
1911-1920
1911-1920
4,500j
1916-1922
41920-1925
1925
1912-1921
1911-1920
1930
1912-1920
1911-1920
1912-1922
1914
1911-1923
1930
..
„
..
,.
'
-
25,000
7,500
100
5,000
100
10,000
100
1,500
6,600 i/100
100
3,500
165,000
30,000
100.855
57,000
100.804
16,000
100
4,000
101.649
3,774
101.767
40,000
99.311
18,151
100
5,000
104.766
75,000
100.91
10,000
100
12,312
102.083
6,000
100.687
54,625
<11920-1930
1912-1916
1911-1930
1911-1940
1913-1919
«.
1923-1929
1956-1960
4
4
3
4M
979
745
4M
4M
1959
1920
41915-1930
50,000
100
102.713
100
100
100
104.18
100.20
100
10,000
3,704
5,000
63,000
25,000
125,000
1,100
5,000
40,000
5,000
100
102.095
2,393
100.28
2,500
102.235
5,000
100
100,000
175,000
100.000
103.057
7,000
95
13,000
14,000
98,50
96.887
80,000
2.129,000 X100
102.84
2,000
} 101.397
12,000
24,000
706.000
1927-1984
1934-193#
4
4
103.46
13,800)
41920-1930
41920-1950
1911-1921
1911-1920
41930-1950
1930
1911-1935
4M
5
1913-1950
6
1930
6 1915, 1920&’25
5M 41920-1930
5
41915-1950
5
1911-1920
1911-1915
4M
5
1912-1916
4
4
4
5
102.52
103.789
103.606
100.10
101.531
15,860
3,716
50,000
70,000
22.691
1922-1925
1911-1930
1911-1920
1911-1920
1911-1920
1915-1924
1911-1950
5
5
5
4
5
5
4
100.025
400,000)
1950
1911-1950
5
745
101.463
100.850
—
1915-1920
1930
1920
4M
AM
5
<11930-1950
5
1925-1934
1920-1930
5
<11915-1930
1911-1920
4M
899
899
667
36,000
22,000
50,000
29,500
3,716
15,860
10,000
40,000
*
Gleason, Tenn
.Glenvllle (Town) Union Free
5
Sch. Dlst. No. 2, N. Y
742. .Grand Valley Irrlg. Dlst., Colo. 6
744
898 __Lowryville Sch. Dlst., So. Caro.
667
744
898 .Lucas County, Ohio...
744 .McLean Ind. Sch. Dlst., Tex
898 .Madera School District, Cal
820 .Manistee, Mich
978
821 .Maricopa Co. S. D. No. 3, Ariz.
821 -Marion Co.S.D.No.24,Ore(3 las.)
821
744 .Massillon School District, Ohio.
821 .Maumee, Ohio
667 .Milford Ind. Sch. Dlst., Tex...
821 -Mississippi
821
821 .Monrovia High Sch. Dlst., Cal.
978 .Moore School District, Mont
898 .Morristown, So. Dak
978 .Moscow, Idaho
744 .Motley Co. Com. S.D.No.6,Tex.
821
745 _Mt. Vernon, Ohio
979 -Murray School District, Ohio..
899
667 ..New Bedford, Mass. (2 issues)
667
979
745 .New Britain, Conn.
821
667
979 -.New York City (2 issues)
821
95.714
101.385
5
5
.Fairmont, Minn.
.Falrport Sch. Dlst., Ohio..
.Fallon, Nev__
.Fallon, Nev
.Fallshurgh S. D. No. 9, N. Y__
.Farwell Ind. Sch. Dlst., Tex
.Flint, Mich
.Florence Sch. Dlst. No. 5, Neb.
.Florida Mesa Irrlg. Dlst., Colo.
35,000
126,500
9,800
8,600
39,000
100,000
41930-1950
nr
100
100
101.507
100.50
100
104.933
100
3,000
5,000
1040
A
5
5
100
137,000
12,000
25,000
7,000
34.000
20,000
2,200
1911-1940
al926
4M
AM
......
15,000
48,000
5
4 M
899..0gaUaua Sch. Dlst. No. 1, Neb.
4
822-.Ogdensburg, N. Y
979.-Oklahoma City, Okla. (5 Issues) 5
<m
7,000
15,000
22,000
12,250
375,000
0,000
1017-1022
-
1023-1029
1035
4M
1911-1010
979. “
1015-1039
4M
079 ..Ossining N. Y
200,000
5
1911-1030
668. ..Ottawa, Ill
;
23,000
4 M
1012-1031
745 ..Oxford School District, Ohio
20,000
41020-1050
745 ..Penelope Ind. Sch. Dlst., Tex.. 5
5.000
5
1010-1920
899 ..Peoria, Ill
10,000
4 H
745 ..Petaluma School Dlst., Cal
1911-1050
45.000
5
41920-1930
899
13.000r
5
822
1911-1030
20,000
5
746
1016-1025
20,000
4
822
1935
1,000,000
822
100
96.08
103.85
102.78
.North Cohocton 3s Atlanta Un.
899.-Nottingham, Ohio
31335
20,000
8,000
1,000,000
53,000
10,000
4,000
4,800
75,000
2,530
*
10,000
1922-1928
1915-1924
4 M
1920
1915-1920
5
<11915-1950
1922
6
4)4
976.
977.
977.
741.
818.
100
100,000 X100
103.775
4,000
35,000
101.638
5,000
101.052
54,648
138,400
4M
-
Amount.
Price.
20,000 t/100
1930
1920
1920
X>M <11920-1930
.
896.
666.
Maturity.
'•
6
4
5
-
_
818_-Connersvllle, Ind
sS.^.
County, Ind
896._Creston, Ohio
741 ..Crockett Co. Com. S. D., Te
PUBLISHED WEEKLY.
For One Year
For Six Months
973
741__Conneaut Lake, Pa
741 _.Connellsvide Sch. Dlst., Pa.
Jftie Clivcmiele.
Terms of
9867165..-CCoralfvwaixfloe,rd
THE CHRONICLE
OOT. 8 1910.
..Portland, Ore
97# -Portland, Ore
5
6
100
101.40
100.052
104.875
103.03
100
100
101.33
100
104.15
05.31
50,000
102.25
144,500 f100 to
1011-1020
•
,•
100
102.71
i
.
1100.550
784696..PQPourtintsacmym,outh,
98922800..-RR5oeucsdhau
974
6928038..--TSS5hargrnupwatovnes,
Page.
Name.
Male.
Ohio
4
668--Pott0Ville, Pa
97689872240411-._..-_UWTryeeaputtoekkndlmnaoCs,,hc.
822.
.Prospect, Ohio..
5
County, Ohio (2 issues) 5
8720469.-ZYaouengvsitlw,
879048206932.-.HDFECBRaeealscngmthidvdornlk,S
5
5
1920-1939
1916-1929
41920-1940
1911-1949
1911-1920
5
5 *6
1916-1921
4.12 1915-1926
4
1930
5
41915-1950
4
*6
5
4*6
4 06
6
1911-1920
1911-1935
1911-1927
1911-1920
1912-1917
900. .Silver Bow County, Mont
747. -Sterling Co. Com.S.D.No. 1,Tex.
5
5
5
604-.Steubenville, Ohio
.Struthers, Ohio.
4*6 41911-1922
823.
5
5
Ohio
Creek Township, Ohio—5
901 ..Sun Prairie, Wte
901 ..Tacoma, Wash
747 _Tallahatchie County,
Miss
604--Tallmadge Twp. S. D ,iOhio—
Springs, Fla..
747_.Terrell Co. Com. S.D.No.l.Tex,
S. D. No. 15, Mont__
989--Toledo, Ohio
989--Toledo, Ohio (2 Issues)-.
Kans—
747__Trenton, N. J. (3 issues)
834. .Trenton, N. J.-.
_
N. J
981. .Trenton, Tenn
901 ..Union, N. J
Sandusky, Ohio
981.-Vail, Iowa
901 ..Van Wert County, Ohio..
901_ JVoorheesville, N. Y
901__Wapakoneta, Ohio
Pa (2 issues)
Iowa
981 ..Waterman Sch. Dist., Cal
748-_Watervliet, N. Y-_
Wis
41920-1930
41920-1930
1911-1916
1911-1914
1912-1921
4*6
1913-1925
1930
4*6
6
41920-1935
5
1912-1926
6
41920-1940
5
41915-1950
6
41925-1930
4
1930
5
4*6
4*6
4*6
4*6
1911-1920
1920
1930
6
41915-1940
4*6
1911-1920
5
1919
5
41915-1920
4*6
1911-1913
4*6
1915-1920
1923
4*6
4*6 ^O.'SO&'AO
4*6
1930
5
4*6
1911-1924
4
748__Wayne County, Und
4*6
Brownsville, iPa
Brownsville, Pa—
901 ..Wilkes-Barre, Pa
5
5
5
6
5
Nev
1912,’13&*14
1940
1915
County, Ohio
1912-1916
825_-Wyandotte, Mich
1940
4*6
902_.Yakima Co. S.D. No.92, Wash. 5*6 41920-1930
Ohio (8 Issues)
Ohio (2 Issues)
County, Tex—
1 5,000
1915-1918
Rosebud Co. S. D. No. 20, Mont 6
Ohio
145,000
4*6
5
5
4
5
1912-3916
1W£U
41920-1950
Price.
100
100
101.70
102.50
6,000
4
4
4
4*6
4
Roseville, Cal
980--Rush County, Ind
County S. D. No. 33, Kan.
County, Iowa
Johnsville, N. Y—
746. .Salt Lake City Sch. Dist., Utah668__San Benito Ind S. D., Tex
Francisco, Cal
746. .San Lorenzo Sch. Dist., Cal
980-_Scarsdale, N. Y
989.-Schenectady, N. Y
Ohio
Amount.
1914-1919
1912 4s 1913
1912
1911
1911
4H
County, Minn
Maturity.
1915
41920-1940
4
.
Mass
668—Quincy, Mass
668.-Quincy, Mass
668— Quincy, Mass
Wine School Dist., Minn..
980.-Reno School Dist. No. 129, Kan.
746.-Riverside City Sch. Dist., Cal--
000
822
15,000
87,000 104.913
12,140
4,100 100,034
1.400
1,000
4,000 100
1,000 100
250,000 100.05
125,210 100
100
3,000
100
78.500
50.500
100
1,000
100
80,000
100
12,000
250.000
100
5,000
40,000
101.16
10,000
49,000
101.392
85,000
101.933
7,800 107.27
103.187
2.400
250,000 101.8308
4,500
100.516
12,000
101.666
3,000
2,000 101.2375
14,000 103.894
08.40
12,500
101.16
200,000
50,000
100.71
15,000
105.691
100.53
15,000
100
5,000
14,000
101.997
70,0001*100
2,910/
100
35,959
103.923
67,700
101.92
9,000
103.20
12,000 100
100
45,000
5,000
109.90
9,000
6,300
100.238
100
3,000
100
10,000
40,000
103.079
45,000 plOO.166
3,000
100.20
55,000
100.40
3,500
55,600
100
25,000
8,000
5,100
100.20
36,000
100
3,000
103.15
25,000
104
11,200
100
27,515
10,000 *100
20,000
155,000
...
...
Total bond sales for September 1910 (217 munici¬
palities covering 306 separate Issues)
fc517.309.058
Average date of maturity, d Subject to call In and after the earlier
year and mature in the later year, fc Not including
519,649,360 of tem¬
porary loans reported, and whch do not belong in the list.
* Taken by
sinking fund as an Investment. pAnd other considerations.
a
REVISED TOTALS FOR PREVIOUS MONTHS.
The following items, included in our totals for
previous
months, should be eliminated from the same. We give the
page number of the issue of our paper in which the reasons
for these eliminations may be found.
Page.
Name oj Municipality.
District, Okla. (August list)
897.-Kalamazoo School District No. 1, Mich. (July list)
979.-Omaha, Neb. (May list).
Amount.
817_ .Calumet School
We have also learned of the
previous months.
510,000
15,000
50,000
following additional
Page.
Name.
Bate.
Maturity.
817.-Caledonia Sch. Dist,, Ohio
4*6
817__Canadlan Co. S. D. No. 76, Okla. 6
1930
976.-Clinton, Mass. (July)
4
1911-1920
896__Enld Sch. Dist., Okla. (July)__ 5
1935
820.-Jackson Twp. S. D., Ind. (July) 4 *6
1911-1924
820_-Klamath Falls, Ore
6
1930
898__Lehl School District, Utah
5
41915-1930
978_-Malden, Mo
5
41920-1930
820.-Manhattan, Kan
6
41920-1930
820--Manhattan, Kan___
6
1911-1920
898—Matagorda Co. Com. S. D., Tex. 5
41922-1930
898-.Moss Point, Miss
6
822-_Northport, N. Y. (July)
4.45
1915-1924
822.-Randall County Com. S. D.
No. 18, Tex. (May)
5
1930
822_.Randall County Com. S. D.
No. 19, Tex. (May)
5
1930
County Com. S. D.
No. 20, Tex. (May)
5
1930
Lodge S. D. No. 1, Mont.
/
(May)
5
41925-1930
900__RIppey, Iowa (July).
6
41920-1930
900__ScotlandJ3ounty, Mo. (June)
6
823__Seattle, Wash. (11 issues)..
-6&7
825. .Williamson County, Tex
4*6 41920-1950
sales for
Amount.
520,000
10,000
15,000
200,000
14,000
5,000
30,000
30,000
18,187
69,937
3,500
15,000
10,000
Price.
101.353
100.50”
100
100.714
103.30
100
100
100
lob’.of'
15,000
100
2,000
100
800
100
11,000
7,000
50,000
443,731
200.000
100
100 50
BONDS SOLD
BY CANADIAN
Page.
Name.
Rate.
982. .Balcarres, sask
6
D. No. 198, Sask..
6
749.-Belleville, Ont
4 *6
982.-Blake Sch. Dist. No. 94, Man6
982. Bo wmanvllle, Ont
4*6
100
_
Maturity.
1911-1925
-
1940
.
1911-1925
_
902__Brldgeburg, Ont
School District, Sask..
No. Twp., Ont
Ont
983. .Elfros, Sask
Sask
Lake, Sask
983--Galt, Ont
826__Glenwood S. D. No. 1537, Man
Sask
S. D. No. 1514, Man
9S8_.Klnlstlno S. D. No. 42, Sask..
MUNICIPALITIES.
.
-
_
_
.
-
_
_
_
.
-
.
.
.
1911-1930
1911-1940
Amount.
$3,500
5,000
2,000
12,000
1911-1930
4*6
1911-1930
17,000
1911-1930
1911-1920
10,000
2,500
26,000
20,000
1,500
1,650
4,000
6
5
6
5
1950
5*6
1911-1920
6
6
6
1911-1925
1911-1920
1911-1930
Price.
102.55
100.60
30,000
5
6
5
20,000
20,000
889223776..GQWBuaaitnddleeon,,
Page.
[Voi*
Name.
-
750..Moose Jaw, Sask
*
750__Neplgc
750.
.
99.80
9,620
3,000
95.32
100
100.148
Bqte.
4*6
-4*6
4*6
_
North
_
.
-
-
Grey, B. C. (4 Issues)III
la kratete S. D., ManSask
Twp., Ont
983--Sampson S. D. No. 2112, Alta
98t..Sprlngvale S. D. No. 219, Alta
983. -Ste. Agathe des Monts, Que
827_ .Stettier, Alta
750.-Stratford, Ont
.
-
-
.
.
_
_
-
Alta. (13 issues)..
Sask
-
_
6
6
5
4*6
4
5
.5
Maturity.
1960
1920
1915
1911-1936
1911-1925
1960
1940
.
1960
1030
4*6 1925&1930
6
6
5
5
1911-1020
1911-1920
1011-1930
1940
1011-1,02*
—’™
4*6
4*6
6
1011-1025
LXXXXI.
Amount.
405,0001
12,000)
5.000J
3,000
7,500
100,450
7,500
620,507
050,000
20,000
Price.
07.08
101.27
97.13
126,000
U.259
1,250
2,300
40.0Q0
20.000
40,000
82,500
184,800
4.000
101.508
100
09.437
98.75
Total Canada.
ADDITIONAL SALES OF DEBENTURES FOR
PREVIOUS MONTHS.
Page.
Name.
Rate.
Maturity.
Amount.
Price.
S82__Anderaon S. D. No.
434, Alta.. 6
Hills S. D. No. 2521,
Sask. (July).
6
S. D. No. 2216, Alta.. 6
Sask
*,
8
1911*1920
*1.500
1911-1920
<(,200
1,100
1,500
1911-1920
1911-1920
101
100.916
101.54
100.266
All the above sales of debentures took
place in August.
These additional August issues will
make the total sales of
debentures for that month
$1,260,163.
News Items.
California.—C onstitutional
A mendments.—Six
proposed
amendments to the State Constitution will be
passed upon by
the voters at the general election in
November.
One
of the proposed
changes is to Section 5 of Article XII and
provides for the classification of cities and towns
by popula¬
tion for the
purpose of regulating the business of banking.
We print Section 5 below,
italicizing the part to be added if
the amendment carries:
SECTION 5.
The Legislature shall have no power to
pass any Act grant¬
ing any charter for banking purposes, but corporations or
associations may
be formed for such purposes under
general laws, and the Legislature shall
lawful money of the United States.
Another amendment, if adopted, will
exempt mortgages
from taxation.
This will repeal Section 4 of Article 13 and
make Section 1 of the same Article
(No. 13) read as follows:
SECTION 1.
All property In the State
except
otherwise In this Con¬
stitution provided, not exempt under the laws of as
the United States, shall
be taxed in proportion to its
value, to be ascertained as provided by law.
or as hereinafter provided.
The word “property,” as used In this article
and section. Is hereby declared to Include
moneys, credits, bonds, stocks,
dues, franchises and all other matters and things, real,
personal and mixed,
capable of private ownership; provided, that a mortgage, deed
of trust, con¬
tract, or other obligation by which a debt is secured when land is
pledged as
security for the payment thereof, together with the money represented
by such
debt, shall not be considered property subject to taxation; and
further provided,
that property used for free
pubUc libraries and free museums, growing crops,
property used exclusively for public schools, and such as may belong
to the
United States, this State, or to any
county or municipal corporation within
this State shall be exempt from taxation.
The Legislature may
provide,
except in the case of credits secured by mortgage or trust deed, for a de¬
duction from credits of debts due to bona fide
residents of this State.
The section to be repealed is as follows:
SECTION 4.
A
mortgage, deed of trust, contract, or other obligation
by which a debt is secured, shall, for the
of assessment and tax¬
ation, be deemed and treated as an interest purposes
in tne property affected
Except as to railroad and other quasi-public corporations. In casethereby.
of debt
so secured, the value of the
property affected by such
trust, contract, or obligation, less the value of sucb mortgage, deed of
security, shall be
assessed and taxed to the owner of the
property and the value of sucb
security shall be assessed and taxed to the owner thereof, in the
county,
city, or district in which the property affected thereby is situate.
The
taxes so levied shall he a lien upon the
property and security, and may be
paid by either party to such security; If paid by the owner of the security,
the tax so levied upon the property affected
thereby shall become part of
the debt so secured; If the owner of the
property shall pay the tax so levied
on such security, it shall constitute a
payment thereon, and, to the extent
of such payment a full discharge thereof;
provided, that if any such security
or indebtedness shall be paid by any such debtor
or debtors, after assess¬
ment and before the tax levy, the amount of such
levy may likewise be
retained by such debtor or debtors and shall he
computed according to the
tax
levy for the preceding
year.
Still another amendment provides for the
separation of
State and local taxation and for the taxation of
public service
and other corporations for the benefit of the State.
approved by the voters
If
section, to be numbered 14,
wifi be added to Article XIII, Section 10 of Article XIII
will be amended and Section 10 of Article XI will be
repealed.
First: There
a new
is hereby added to Article Thirteen a new
section, to be
numbered fourteen, and to read as follows:
SECTION 14.
Taxes levied, assessed and collected as
hereinafter
pro¬
vided upon railroads, including street railways, whether
operated in one
or more counties; sleeping car, dining car,
drawing-room car and palace car
companies, refrigerator, oil, stock, fruit and other car-loaning and other
companies operating upon railroads in this State; companies
railroad, steamboat, vessel or stage line indoing
this
State; telegraph companies, telephone companies; companies
engaged in the
transmission or sale of gas or electricity; insurance
companies, banks,
hanking associations, savings and loan societies, and trust companies; and
taxes upon all franchises of every kind and
nature, shall he
and
exclusively tor State purposes, and shall be levied, assessed andentirely
oollected In
the manner hereinafter provided.
The word “companies” as used In this
section shall Include persons, partnerships, joint-stock
associations, com¬
panies and corporations.
(a) All railroad companies. Including street railways, whether
operated
In one or more counties; all sleeping-car,
dining-car, drawlng-room-oar
and palaoe-cai companies; all refrigerator, oil,
stock, Lmit and other earloaning and other car companies operating upon the railroads In this State:
all companies doing express business on any railroad,
steamboat, vessel
or stage line In this State; all telegraph and
telephone companies, and all
companies engaged In the transmission or sale of gas 01 electricity shall
annually pay to the State a tax upon their franchises, roadways, road¬
beds, rails, roiling stock, poles, wires, pipes, canals, conduits,
rights of
way and other property,, or any part thereof, used
exclusively In the opera¬
tion of their business In this State, computed as follows:
Said tax shall he
equal to the percentages hereinafter fined upon the gross
receipts from op¬
eration of such companies and each thereof within this State.
When such
companies are operating partly within and. partly without this State, the
gross receipts within this State shall be deemed to be all
receipts on business
beginning and ending within this State, and a proportion,
based
a
proportion of the mileage within this State to the entire mileage overupon
which
such business is done, of receipts on all business
passing
through, Into or out
.f this State.
car
express business on any
All the above sales (except as
indicated) are for August.
These additional August issues will make the total
sales (not
including temporary loans) for that month $14,001,223.
879502037..RPteroacrinhahtgcseo,nra,
THE CHRONICLE
-
Oct. 8 1910.1
THE CHRONICLE
The percentages above mentioned shall be as
follows: On all railroad
companies, including street railways, 4%; on all sleeping car,
dining car;
drawing-room car, palace car companies, refrigerator,
oil, stock, fruit
and other car-loaning and other car
companies, 3%; on all companies doing
express business on any railroad, steamboat, vessel or
stage line, 2%; on
all telegraph and telephone companies,
3H%; on all companies engaged
in the transmission or sale of gas or
electricity, 4%. Such taxes shall be in
lieu of all other taxes and licenses, State,
county and municipal, upon the
property above enumerated of such companies, except as otherwise in this
section provided; provided, that nothing herein shall be construed
to release
any such company from the payment of any amount agreed to be
paid or
required by law to be paid for any special privilege or franchise granted
by
any of the municipal authorities of this State.
(b)
Every insurance company or association doing business in this State
shall annually pay to the State a tax of 1H % upon the amount
of the gross
premiums received upon its business done in this State, less return
premiums
and re-insurance in companies or associations authorized to
do business
in this State; provided, that there shall be deducted
from said 1K% upon
the gross premiums the amount of
any county and municipal taxes paid by
such companies on real estate owned by them in this State.
This tax shall
be in lieu of all other taxes and licenses, State,
county and municipal, upon
the property of such companies, except
county and municipal taxes on real
estate, and except as otherwise In this section provided;
provided, that when
by the laws of any other State or country, any taxes, fines,
penalties,
licenses, fees, deposits of money, or of securities, or other
obligations or
prohibitions, are imposed on insurance companies of this State,
busi¬
doing
ness In such other State or
country, or upon their agents therein, in excess
of such taxes, fines, penalties,
licenses, fees, deposits of money or of
securities or other obligations or prohibitions
Imposed upon Insurance
companies of such other State or country, so long as such laws continue
in
force the same obligations and prohibitions of
whatsoever kind may be
imposed by the Legislature upon insurance companies of such other State
or country doing business in this State.
(c)
The shares of the capital stock of all banks,
organized under the
laws of this State, or of the United States, or of
any other State and located
in this State, shall be assessed and taxed
to the owners or holders thereof
by the State board of equalization in the manner to be prescribed
by law
in the city or town where the bank is located
and not elsewhere.
There
shall be levied and assessed upon such shares of
capital stock an annual tax,
payable to the State, of six-tenths of one per centum upon the
value there¬
of.
The value of each share of stock in each
bank, except such as are in
liquidation, shall be taken to be the amount paid in thereon,
together with
Its pro rata of the accumulated
surplus and undivided profits.
The value
of each share of stock In each bank which
Is in liquidation shall be taken
to be Its pro rata of the actual assets of
such bank.
This tax shall be in
lieu of all other taxes and licenses.
State, county and municipal, upon such
shares of stock and upon the
property of such banks,
county and
municipal taxes on real estate, and except as otherwise except
In this section pro¬
vided.
In determining the value of the
capital
stock of any bank, there
shall be deducted from the value, as defined
above, the value, as assessed
for county taxes, of any real estate other than
mortgage interests therein,
owned by such bank and taxed for
country purposes.
The banks shall be
liable to the State for this tax and the
same shall be paid to the State
by
them on behalf of the stockholders in the manner and at
the time prescribed
by law, and they shall have a lien upon the shares of
stock and upon any
dividends declared thereon to secure the amount so
paid.
The moneyed capital, reserve,
surplus, undivided profits and all other
(ed)OAult
Eroperty
belonging
to unincorporated
bankshas
or
eld by any
bank located
in this State which
bankers of this State,
or
no shares of
employed in this State by any branches, agencies or other capital stock,
representatives
of any banks doing business outside of the
State of California, shall be like¬
wise assessed and taxed to such banks or bankers
by the said board of equali¬
zation, in the manner to be provided by law, and taxed at the same rate
that Is levied upon the shares of
capital stock of
vided in the first paragraph of this subdivision. incorporated banks, as pro¬
The value of said property
shall be determined by
taking the entire property Invested In such business,
together with all the reserve, surplus and undivided profits,
at their full
cash value, and deducting therefrom the value as
assessed for county taxes
of any real estate other than mortgage interests
therein,
owned
by such bank
and taxed for county
purposes. Such taxes shall be in lieu of all other taxes
and licenses, State, county and
municipal, upon the property of the banks
and bankers mentioned In this
paragraph, except county and municipal
taxes on real estate, and
except as otherwise in this section provided.
It
is the intention of this
paragraph that all moneyed capital and property of
the banks and bankers mentioned in this
paragraph
shall
be
assessed
and
taxed at the same rate as an
incorporated bank, provided for in the first
paragraph of this subdivision.
In determining the value of the
moneyed
capital and property of the banks and bankers mentioned in this
vision, the said State board of equalization shall include and assess tosubdi¬
such
banks all property and everything of value owned
or held by them which
go to make up the value of the capital stock of such banks and
bankers,
if the same were incorporated
and nad shares of capital stock.
The word “banks” as used in this subdivision shall
include banking asso¬
ciations, savings and loan societies and trust companies, but shall not in
elude building and loan associations.
franchises, other than those expressly provided for in this sec¬
tion, shall be assessed at their actual cash value In the manner to be
provided
by law, and shall be taxed at the rate of 1 % each year, and the taxes
col¬
lected thereon shall be exclusively for the benefit
of the State.
of the revenues from the taxes
provided for in this section, to¬
gether with all other State revenues, there shall be first set
apart the moneys
to be applied by the State to the
support of the public-school system and
the State University.
In the event that the above-named revenues are at
any time deemed insufficient to meet the annual expenditures of the
State,
or
Including the above-named expenditures for educational
purposes, there
may be levied, in the manner to be provided
by law, a tax for State pur¬
poses, on all the property in the State,
including the classes of property
enumerated in this section, sufficient to meet the
deficiency. All property
enumerated in subdivisions a, b and d of this section
shall be subject to
taxation, in the manner provided by law, to pay the principal
and Interest
of any bonded indebtedness created and
outstanding by any city, city and
county, county, town, township or district, before the adoption of this
tion, the taxes so paid for principal and interest on such bonded
sec¬
indebtedness
shall be deducted from the total amount
paid in taxes for State purposes.
(/)
All the provisions of this section shall be
self-executing, and the
Legislature shall pass all laws necessary to carry this
section into effect,
and shall provide for a valuation at assessment
of the property enumerated
in this section and shall
prescribe the duties of the State Board of Equali¬
zation and any other officers In connection with
the administration thereof.
The rates of taxation fixed in this section shall
remain In force until changed
by the Legislature, three-fourths of all the members elected to each
of the
two Houses voting in favor thereof.
The taxes herein provided for shall
become a lien on the first Monday in March of each
year
the
after
adoption
of this section, and shall become due
and payable on the first
in
July thereafter.
The gross receipts and gross premiums herein Monday
mentioned
shall be computed f >r tue year ending the 31st
day of December prior to the
levy of such taxes and the value of any property mentioned herein shall be
fixed as of the first Monday in March.
Nothing
herein contained shall
affect any tax levied or assessed prior to the
adoption of this section, and
all laws in relation to such taxes in force
at the time of the adoption of this
section shall remain In force until
changed by the Legislature. Until the
year 1018 the State shall reimburse San
Bernardino and Placer counties
rpr the net loss in county revenue occasioned by the withdrawal of
railroad
property from county taxation. The Legislature shall
provide for reim¬
bursement from the general funds of
any
county
to
districts
therein
where
loss is occasioned in such districts
by the withdrawal from local taxation
of property taxed for State
purposes only.
Note.—Words the pear ending given above were added at
special session
of the Legislature which convened Oct. 3
1910.
See V. 91, p. 893.
(?)
No injunction shall ever issue in any suit, action or
proceeding
in any court against this State or
against any officer thereof to prevent
or enjoin the collection of
any tax levied under the provisions of this
section until such tax has been
actually paid; but after such payment
action may be maintained to recover
any tax illegally collected In such
manner, and at such time as may now or hereafter be
provided by law.
Second.
Section ten of Article Thirteen of said constitution
is hereby
amended to read as follows:
SECTION 10.
All property, exoept as otherwise in this
,
Constitution
be assessed
city,
Erovided,
in the
city manner
and county,
town or
awns hip, shall
in which
or district
it iscounty,
situated,
in the
prescribed by
law.
Third.
repealed.
Section ten of Article Eleven of said Constitution
Is hereby
The last two amendments mentioned above are somewhat
similar to those defeated on Nov. 3 1908,
relating to mortgage
975
assessments and
providing for a system of taxation of cor¬
See V. 85, p. 235. The
remaining three amend¬
to be voted on in November
relate to the right
people to fish, the duties of Judges of the Superior
porations.
ments
ot the
Court and the formation of
new
counties.
Chicago—Edison Park, Hi.—Annexation Election.—At
the
general election on Nov. 8, the question of annexation will
be submitted to the voters of the
city of Chicago and the
village of Edison Park. The proposition was voted upon on
April 5, and, as stated in V. 90, p. 1376, it received the
ap¬
proval of the voters of Chicago but failed to carry in Edison
Park.
New York State.—Governor
On Oct. 6 Mr. Chas. E.
Hughes Retires from Office.—
Hughes resigned the office of Gov¬
ernor and Lieutenant-Governor
Horace White was inaugu¬
rated as his
^successor until Jan. 1 next. Mr. Hughes will
assume his new
duties
as a
preme Court next week.
member of the United States Su¬
Port of Coos Bay, Coos
County, Ore.—Sale of Bonds En¬
joined.—Portland papers state that an injunction was issued
on Sept. 29
by the United States Court restraining the sale of
$500,000 bonds of this port district. As stated in the “Chron¬
icle” of Nov. 27
1909, Judge Coke of the Circuit Court dis¬
solved an injunction which had
previously been issued by
County Judge Hall, restraining the Board of Commissioners
from disposing of these bonds at
public sale on Nov. 9 1909.
Bond Calls and Redemptions*
Denver,
Colo.—Bond Call.—The
Oct. 31:
called for payment
following bonds
are
STORM SEWER BONDS.
North Denver Storm Sewer Dlst. No. 1, Bonds 159
to 162 inclusive.
South Capitol Hill Storm Sewer Dlst., Bond
No. 50.
.
SANITARY SEWER BONDS.
East Side Sfanltary Sewer Dlst. No. 1, Bonds
Nos. 169 to 173 Inclusive.
Sub-DIst. No. 8 of the East Side Sanitary Sewer Dlst.
No. 1, Bond No. 70.
Harman Special Sanitary Sewer Dist. No.
1, Bond No. 32.
Highlands Special Sanitary Sewer Dlst. No. 7, Bonds Nos. 63 and 64.
IMPROVEMENT BONDS.
Cherry Creek Improvement Dist. No. 1, Bond No. 32.
East Denver Improvement Dist. No.
2, Bonds Nos. 209 to 211 inclusive.
East Denver Improvement Dlst. No.
3, Bond No. 50.
East Denver Improvement Dist. No. 4,
Bond No. 42.
East Side Improvement Dlst. No. 1, Bonds Nos. 22
to 25 inclusive,
Evans Improvement Dlst., Bond No. 39.
Highlands Improvement Dist. No. 1, Bond No. 62.
North Side Improvement Dist. No. 1, Bond No.
65.
North Side Improvement Dlst. No. 2, Bond
No. 27.
North Side Improvement Dlst. No. 3, Bonds
Nos. 63 to 65 Inclusive. *
North Side Improvement Dlst. No. 4, Bond No
16.
South Broadway Improvement Dist. No.
2, Bonds Nos. 64 and 65.
South Side Improvement Dlst. No. 1, Bond No.
74.
Thirteenth St. Improvement Dist. No. 1, Bonds Nos. 30
and 31.
„
PAVING
BONDS.V
Alley Paving Dlst. No. 7, Bond No. 14.
Alley Paving Dlst. No. 14, Bond No. 10.
Upon the request of the holders of any of the above bonds
recelvedflO
days before the expiration of this call, the Treasurer will
arrange for their
payment at the Mercantile Trust Co., New York
City; but not otherwise.
Bond Proposals and Negotiations this week
have been
as
follows:
Alliance, Stark County, Ohio.—Bond Sale.—On Sept. 7
the $3,900 5% 10-year
street-improvement (city’s portion)
bonds and the $1,500 4%
10-year storm sewer bonds described
in V. 91, p. 600, were awarded to the Alliance Bank Co. at
103.64 and cost of bonds.
-
Ambridge, Beaver County, Pa.—Bond Sale.—The $125,000
general permanent improvement bonds offered on
Oct. 3 and described in V.
91, p. 894, were awarded to
Lawrence Barnum & Co. of
Philadelphia at 100.40 and
accrued interest.
The following bids were received:
L. Barnum & Co.,
Phila—$125,5001 West. Reserve Inv.
Co.,Pltts$125,332
Washington Inv. Co., Pltta_ 125,3501Otis & Hough, Cleveland-.
125,300
Maturity $5,000 yearly on Jan. 1 from 1914 to 1938 Inclusive.
NM
Americus, Ga.—Bond Election Proposed.—Reports state
that this city proposes to call an election to vote on the
ques¬
tion of issuing $65,000
bonds.
improvement
Anaheim School District,
Orange County, Cal.—Bond
Election Proposed.—Reports state that the School Trustees
have been petitioned to call an election to vote on the
ques¬
tion of issuing
school-building and playground bonds.
0. May’s Landing), N. J.—Bond Sale.
7-10-year (serial) registered public¬
building-improvement bonds offered on Oct. 5 (Y. 91, p. 894),
Atlantic County (P.
—The $40,000 4%
disposed of as follows: $20,000 awarded to tne Egg
Harbor Commercial Bank of Egg Harbor
City at 101.125
and $20,000 sold to the Atlantic Safe
Deposit & Trust Co. of
Atlantic City at 100.50.
The bonds are dated Nov. 1 1910.f
Bonds Authorized.—The issuance of
were
$60,000 bridge-re¬
building bonds has been authorized, according to local papers.
Attica, Fountain County, Ind.—Bonds Offered by Bankers.
—The J. F. Wild & Co. State Bank of
Indianapolis is offering
to investors $17,000 4%
refunding bonds.
Denomination $500.
Date Aug. 15 1910.
Interest May 15 muI Nov. 15
at the City Treasurer’s office.
Maturity $1,500 yearly on Nov. $5 from
1911 to 1916 Inclusive and $2,000
yearly on Nov. 15 from 1017 to 1920
Inclusive.
The bonds are tax-exempt.
Total boBded debt. Including this
Issue, $20,000.
Assessed valuation $1,277,075.
Real valuation $3,000.000.
Auglaize County (P. O. Wapakoneta), Ohio.—Bids.—The
following bids were received on Sept. 29 for the $35,000
THE CHRONICLE
976
refunding and $12,000 tuberculosis hospital (county's por¬
tion) 43^% bonds, the sale of which was reported last week:
$12,000
$35,000
Atlas National Bank, Cincinnati
Davton Savings & Trust Co., Dayton
Tllbtson 4b Wolcott Co., Cleveland
Seasongood & Mayer, Cincinnati
Well, Roth & Co., Cincinnati-.
First National Bank, Cleveland.Provident Savings & Trust Co., Cincinnati
Stacy & Braun, Toledo
Cleveland Savings & Trust Co., Cleveland
O. E. Denison & Co., ClevelandOtis 8s Hough, ClevelandCitizens’ Safe Deposit & Trust Co., Toledo
Hayden, Miller & Co., Cleveland--.
Parson, Son & Co., Chicago
Rudolph Kleybolte Co., Inc., Chicago
Thus* J. Bolger Co., Chicago
Bonds.
Bonds.
$36,102 50
$12,246 15
12,261 00
12,243 00
36,092 50
36,088
36,061
36,056
36,030
36,014
35,997
35,970
35,965
35,967
35,940
35,785
12,241
12,247
12,237
12,222
50
50
50
75
45
50
00
00
50
00
00
12,221
12,211
12,212
12,195
12,202
12,204
12,138
80
00
25
00
52
20
50
00
85
Q0
00
20
12,151
12,080 40
35,546 00
35,252 50
Bell
County Common School Districts Nos.3 and 42,Tex.
—Bonds Registered.—On Sept. 27 the State, Comptroller
registered $1,000 5-10-year (optional) bonds of Districts
No. 3 and $4,000 5-40-year (optional) bonds of District
No. 42.
The securities carry
5% interest.
Bellecenter, Logan County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Oct. 31 by H. A. Sickles,
Village Clerk, for $2,500 5% street-crossing bonds.
Authority, Section 2835, Revised Statutes.
Denomination $500.
Date
Sept. 20 1910.
Interest semi-annual.
Maturity $500 yearly on Sept. 20
from 1911 to 1915 inclusive.
Purchaser to pay accrued Interest.
Beliefontaine, Logan County, Ohio.—Bond Offering.—
Reports state that proposals will be received until Oct. 31
for
$21,000
sewerage
bonds.
Beliefontaine School District (P. O. Beliefontaine),
Ohio.
Offering.—Proposals will be received until 12 m.
by L. B. Stough, Clerk Board of Education, for the
$35,000 43^% school-building bonds voted (V. 91, p. 740)
on Aug. 29.
—Bond
Oct. 31
Authority, Section 3991, Revised Statutes.
Denomination $500. Date
Sept. 1 1910.
Interest semi-annual. Maturity $500 each six months from
1
March
1919 to Sept. 1 1928 inclusive and $1,000 each six months from
March 1 1929 to March 1 1941 inclusive.
Certified check for 5% of bonds
bid for, payable to the Treasurer Board of Education, is required.
Ac¬
crued interest to be paid by the purchaser.
Belle Fourche, Butte County, So. Dak.—Bond Sale.—The
$50,000 5% 10-20-year (optional) water-works-construction
bonds offered on Sept. 20 and described in V. 91, p. 740, were
awarded, it is reported, to S. A. Kean & Co. of Chicago.
Belmar, Monmouth County, N. J.—Bond Sale.—On Oct. 4
the $18,000 sewer and $15,000 building 5% 30-year gold
coupon bonds described in V. 91, p. 817, were awarded to
R. M. Grant & Co. of New York City at 100.17 and accrued
interest. There were no other bidders.
The $18,000 issue
is dated Jan. 1 1911 and the $15,000 issue Oct. 1 1909.
Benton County School District No. 60 (P. O. St. Cloud
R. R. No. 6), Minn.—Bond Sale.—An issue of $1,000 6%
School-building bonds was awarded to the Benton County
State Bank of Sauk Rapids at par on
no other bidders.
Sept. 28.
There
were
Denominations $100 and $150.
Interest annually on Oct. 1.
Maturity
$100 yearly from 1911 to 1917 Inclusive and $150 in the years 1918 and 1919.
Bloomingdale, Essex County, N. Y.—Bond Sale.—On
Oct. 3 the $15,000 5-29-year (serial) coupon or registered
water-works bonds described in V. 91, p. 895, were awarded
to O'Connor & Kahler of New York City at 100.13 and ac¬
crued interest for 4.65s.
Bremen, Fairfield County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Oct. 31 by C. E. Thomp¬
son, Village Clerk, for $1,650 6% sewer district No. 1 (vil¬
lage's portion) bonds.
Denomination $200, except one bond for $250.
Date Sept. 21 1910.
Interest semi-annual.
Maturity $200 every six months from March 21
1911 to March 21 1914, Inclusive and $250 Sept. 21 1914.
Certified check
for 10% of bonds bid for,
to pay accrued interest.
payable to the-Treasurer, is required.
(VOL.
LXXXX1
Oct. 18 of the $40,000 coupon funding bridge bonds described
in V. 91, p. 895.
Proposals for these bonds will be received
until 3 p. m. on that day by G. L. Finley, County Clerk.
Authority, Section 2905, Revised Codes. Denomination $1,000. Date
Nov. 15 1910.
Interest (rate not to exceed 5%) Jan. 1 and July 1 in
Red Lodge.
Maturity Nov. 15 1930. The bonds are tax-exempt.
tified check for $1,000, made payable to the County Clerk, is required.
Cer¬
Carmen, Alfalfa County, Okla.—Bonds Not Sold.—Accord¬
ing to reports no sale was made on Sept. 20 of the $15,000
6% 25-year water and light bonds offered on that day. See
V. 91, p. 741.
Cass County (P. O. Logansport), Ind.—Bonds Offered by
Bankers.—In their circular for October the J. F. Wild & Co.
State Bank of Indianapolis is offering to investors $3,335 80
43^% gravel road bonds of Eel Township.
Denomination $166 79.
Date Nov. 5 1910.
Interest semi-annually at
the County Treasurer’s office in Logansport.
Maturity $166 79 each six
months from May 15 1911 to Nov. 15 1920 inclusive.
Total bonded debt,
including this issue, $27,089.
Real valuation (estimated), $20,000,000.
Assessed valuation $9,804,595.
Cherry Creek, Chautauqua County, N. Y.—Bond Offering.—
Proposals will be received until Oct. 12 by the Board of
Trustees, E. Kent, M. H. Butler and E. G. Hubbard, for
$30,000 5% water-system-construction bonds. Denomina¬
tion $1,000.
Interest semi-annual. Maturity $1,000 yearly.
Chicago, Ill.—West Park District.—Bond Election.—An
election will be held Nov. 8 to vote on a proposition to issue
$1,000,000 bonds at not exceeding 5% interest for park
improvements.
Cicero, Hamilton County, Ind.—Bond Sale.—The J. F.
Wild & Co. State Bank of Indianapolis has purchased $10,000
43^% refunding bonds.
Denomination $500.
Date Oct. 1 1910.
Interest semi-annual.
Matur¬
ity $500 each six months from Feb. 1 1911 to Aug. 1 1920 Inclusive.
Total
bonded debt, this issue.
Assessed valuation $364,080.
Real valuation
(estimated), $700,000. The bonds are tax-exempt.
Claremont
High School District, Los Angeles County, Cal.
$75,000 5% bonds described
it is stated, to Barroll & Co.
—Bond Sale.—On Sept. 26 the
in V. 91, p. 741, were awarded,
of San Francisco at 103.58.
Clay County (P. O. Moorehead), Minn.—Bonds Proposed.
Aug. 30 to the State of
4% for drainage purposes.
Clayton School District No. 114 (P. O. Clayton), Adams
County, HI.—Bonds Offered by Bankers.—An issue of $10,000
5% bonds is being offered to investors by the First National
Bank of Chicago.
—This county made application
Minnesota for a loan of $10,000 at
Denomination $1,000.
Date July 1 1910.
Interest annual.
Maturity
$2,000 yearly on July 1 from 1916 to 1920 inclusive.
Total bonded debt,
this issue.
Assessed valuation for 1909, $204,931.
Real value (estimated),
$1,024,655.
Clinton, Mass.— Sales.— The $14,000 4% 1-10-year
(serial) notes, bids for which were rejected on June 23
(V. 90, p. 1692), weresold on Oct. 1 toE. H. Rollins & Sons of
Boston for $14,057 50 (100.41) and accrued interest.
De¬
nomination $1,400. Date July 1 1910. Interest semi-annual.
On July 1 W. I. Jenkins of Clinton was awarded the $15,000
4% coupon school bonds, bids for which were rejected
(V. 90, p. 1692) on June 23. The price paid was 100.50.
Clyde, Sandusky County, Ohio.—Bond Offering.—Propos¬
m. Oct. 24 by H. M. Bacon,
Village Clerk, for the following bonds:
als will be received until 12
$3,300 4H% water-works-ex tension bonds.
Denomination $500, except
one bond of $300.
Maturity $500 yearly on Sept. 1 from 1918
to 1923 inclusive and $300 Sept. 1 1924.
12,800 5%
Amandaand Birdseye streets improvement-assessment bonds.
Denomination $1,280.
Maturity $1,280 each year on Sept. 1
2,700
5%
frbm 1911 to 1920 inclusive.
Amanda and Birdseye streets improvement (village's portion)
bonds.
Denomination $270.
Maturity $270 yearly on
Sept. 1 from 1911 to 1920 inclusive.
Date Sept. 1 1910.
Interest semi-annual. Certified check on a Clyde
bank for $300, payable to the Village Treasurer, is required.
Bids must be
unconditional.
Purchaser to pay accrued interest.
Purchaser
Coffeyville, Montgomery County, Kan.—Bond Election
Proposed.—An election will be held, it is stated, to vote on
Bridgeton, Cumberlain County, N. J.—Bond Offering.— the question of issuing armory bonds.
Proposals will be received until 7 p. m. Oct. 18 by Barton F.
Colfax, Jasper County, Iowa.—Bonds Offered by Bankers.
Sharp, City Comptroller, for $50,000 43^% sewage-disposal- —The
First National Bank of Chicago is offering for sale
plant bonds.
$12,000
5% 10-year school bonds.
Bonds may be either coupon or registered, as purchaser desires.
De¬
nomination $500.
Date Oct. 1 1910.
Interest semi-annually at the City
Treasurer’s office.
Maturity 30 years, subject to call after 15 years.
Bonds are exempt from all taxes and will be delivered Nov. 1.
Brunswick, Frederick County, Md.—Bond Sale.—On
Oct. 4 the $5,000 43^% 10-30-year (optional) municipal
water bonds, described in V. 91, p. 817, were awarded to
the Baltimore & Ohio RR. Co. at par and accrued interest.
Buffalo, N. Y,—Bonds Sold to Sinking Fund in September.
—The following monthly local work 4% bonds were sold in
September to the city's sinking funds at par:
$8,953 96 bonds dated Aug. 15 1910 and due Aug. 15 1911.
7,405 66 bonds dated Sept. 15 19m and due Sept. 15 1911.
Bonds Authorized.—Resolutions have been adopted
viding for the issuance of the following 4% bonds:
pro¬
$100,000 refunding railroad-aid bonds. Date Dec. 15 1910.
Maturity
$5,000 yearly on Dec. 15 from 1911 to 1930 inclusive.
100,000 refunding water bonds.
Date Jan. 1 1911.
Maturity $5,000
yearly on Jan. 1 from 1912 to 1931 Inclusive.
Interest semi-annually at the City Comptroller’s office or at the Gallatin
National Bank in New York City, to suit purchaser.
Burnet County (P. O. Burnet), Tex.—Bond Election.—An
election will be held Oct. 22, according to
reports, to vote
proposition to issue $18,000 bonds for the erection of
bridges across the Colorado River.
Carbon County (P. O. Red Lodge), Mont.—Bond
Offering.
—-Additional details are at hand relative to the
offering on
on a
two
Denomination $1,000.
Interest semi-annual. Total
Date May 2 1910.
bonded indebtedness $15,500.
Taxable value $316,000. Actual value
(estimated), $1,267,000.
Columbia, Boone County, Mo.—Bonds Voted—Bond Offer¬
ing.—The election held Sept. 27 resulted in favor of the pro¬
position to issue the $125,000 43^% water and light-plantconstruction bonds mentioned in V. 91, p. 741.
The vote
was 708 “for” to 264 “against.”
Proposals for these bonds
will be received until 7:30 p. m. Nov. 1.
Denomination $1,000.
Date Jan. 2 1911.
Interest semi-annual.
Ma¬
turity Jan. 2 1931, subject to call after Jan. 2 1916.
Certified check for
$1,250 is required. John S. Blcknell is City Clerk.
Cook County (P. 0. Chicago), HI.—Bond Election.—It is
on Nov. 8 the question of issuing $3,000,000 4%
stated that
gold hospital reconstruction and extension bonds will be
voted upon.
Crockett County Common School District No. 1, Tex.—
Bonds Awarded in Part.—On Oct. 1 $5,000 more of the
$25,000 5% 5-40-year (optional) bonds registered on Aug. 12
by the State Comptroller (V. 91, p. 477) were purchased by
the State School Fund at par and interest.
This makes a
total of $10,000 bonds of this issue sold to the State to date.
See V. 91, p. 741.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Offer¬
ing.—Proposals will be received until 11 a. m. Oct. 26 by
the Board of County Commissioners, John F. Goldenbogen,
OOT. 8
THE CHRONICLE
1910.]
Clerk, for $59,000 4% coupon bonds, to improve Parma and
Royal ton Center Ridge Road No. 3.
Authority Chapter 18, Division 2, Title 2, Part First, of the General Code
of Ohio.
Denomination $1,000.
Date Nov. 1 1910.
and Oct. 1 at the County Treasurer’s office in Cleveland.
Interest April 1
Maturity $1,000
on April 1 1911, $3,000 each six months from Oct. 1 1911 to Oct. 1 1919
inclusive, $3,000 on April 1 1920 and $4,000 on Oct. 1 1920. An uncon¬
ditional certified check for 1 % of bonds bid for, made payable to the County
Treasurer, is required.
The bonds will be delivered within 10 days from
the time of award.
These bonds were offered without success on
Sept. 14. (V. 91, p. 741.)
Dallas, Tex.—Bond Offering.—Proposals will be received
m. Oct. 26, according to local papers, for the follow¬
ing bonds voted on April 5 (V. 90, p. 1693): $100,000 for
until 12
improvements, $100,000 for sanitary sewers,
$100,000 for public schools and $350,000 for street improve¬
The street bonds carry 434% interest and mature
ments.
June 1 1950 and the other issues carry 4% interest and ma¬
ture part yearly on June 1 from 1911 to 1950 inclusive. The
water-works
bonds
are
dated June 1 1910.
Darlington, Darlington County, So. Car.—Bonds Voted.—
At an election held Sept. 6 a vote of 83 “for” to 51 “against”
was polled on a proposition to issue $12,000 5% 30-year
railroad-aid bonds.
Dawson County School District No. 38, Sears (P. O. New¬
ton), Mont.—Bond Offering.—Further details are at hand
relative to the offering on Oct. 10 of the $1,000 6% coupon
school-building and furnishing bonds mentioned in V. 91,
Proposals will be received until 12 a. m. on that
p. 818.
day by M. J. Rooney, Clerk.
Denomination $500.
Interest annually at the County Treasurer’s office
In Glendive.
Maturity 10 years, subject to call after 5 years.
check for $100, payable to the Clerk, Is required.
No bonded
present.
Floating debt $380.
Certified
debt at
Assessed valuation $45,000.
Dayton, Ohio.—Bond Sales.—Since Jan. 1 this city has
sold $281,400 general bonds.
Those issues, the sale of which
has not been previously reported in these columns, are as
S’??
Estherville, Emmet County, Iowa .—Bonds Offered by
Bankers.—The First National Bank of Chicago is offering
at 102 and interest $10,000 434% 10-year refunding school
bonds.
Denomination $1,000.
Date May 2 1910. Interest semi-annual. Total
indebtedness, including this issue, $30,000. Assessed valuation for 1909
$777,668. Actual value (estimated) $3,110,672.
Euclid Township School District, Cuyahoga County, Ohio.
—Bond Sale.—On Oct. 1 the $30,000 434% 1-30-year (serial)
coupon school-building
were awarded to Stacy
accrued interest. The
bonds described in V. 91, p. 819,
& Braun of Toledo at 104.0325 and
following bids were also received:
Hayden. Miller A Co., Cleveland
Tillotson A Wolcott, Cleveland
Otis A Hough, ClevelandSeasongood A Mayer, Cincinnati
$31,160
31,139
31,056
30,925
_
-
-
00
10
00
$5
Franklin, Franklin County, Neb.—Bond Election.—The
election to vote on the question of issuing the $8,000 5%
5-20-year (optional) electric-light bonds mentioned in V. 91,
p. 602, will be held Oct. 11.
Franklin County (P. O. Brookville), Ind.—Bond Sale.—
On Oct. 3 the $89,000 4% coupon court-house-repairing
bonds described in V. 91, p. 819, were sold to Miller, Adams
& Miller of Indianapolis for $91,098—the price thus being
102.357.
Maturity part each six months from June 1 1911
to June 1
1930 inclusive.
.
Freeport, Stephenson County, HI.—Bond Offering.—
Proposals will be received until 1 p. m. Oct. 10 by the
City Clerk for $9,000 4% fire-station bonds.
Denomination $500.
Interest semi-annual.
for $500, payable to the Mayor, is required.
Certified check (or cash)
Gloversville, Fulton County, N. Y.—Bonds Awarded in
Part.—Of the $67,000 4% registered sewer-construction
bonds offered on Oct. 4 (V. 91, p. 416), $1,000 were awarded
to D. S. McLaughlin of Johnstown at par and accrued interest.
follows:
Bond Offering.—Proposals for the remaining $66,000 4%
registered sewer-construction bonds will be received until
2 p. m. Oct. 11.
1911.
Grayson County Common School District No..45, Tex.—
5,200 5% storm-water-sewer bonds dated April 1 1910 and due on April 1
Bond Sale.—On Oct. 1 the $2,500 bonds (the unsold portion
as follows: $1,200 In 1912 and $1,000 yearly from 1913 to 1916
Inclusive.
of the issue of $5,000 5% 5-40-year (optional) bonds regis¬
20,000 4% street-repair bonds dated April 1 1910 and due $5,000 on April 1
tered by the State Comptroller on June 2, V. 91, p. 52, were
In each of the years 1912, 1914,1916 and 1918.
19,000 4% street-improvement bonds dated April 1 1910 and due $5,000
sold to the State School Fund at par and interest.
The
on April 1 in 1912, In 1913 and In 1914,and $2,000 on April 1 in
award of $2,500 bonds to the State was mentioned in V. 91,
1915 and in 1916.
8.600 4
pollce-auto-vehlcle bonds dated Sept. 1 1910 and due on
p. 416.
Sept. 1 as follows. $1,600 in 1919, $2,000 in 1920 and in 1921
and $3,000 In 1922.
Greenville School District (P. O. Greenville), Darke
Interest on the above bonds Is payable semi-annually.
County, Ohio.—Bonds Voted.—An. election held Sept. 27 re¬
Delaware County (P. O. Delaware), Ohio .—Bond Offering. sulted, we are advised, in favor of a proposition to issue
—The Board of Commissioners, J. L. Edwards, P. BL Perry $20,000 school-building bonds.
and W. D. Sherwood, will offer for sale at 1 p. m. Oct. 24 an
Groesbeck Independent School District (P. O. Groesbeck),
issue of $77,860 434% road-improvement bonds.
Limestone County, Tex.—Bonds Registered.—An issue of
Authority, Sections 6949-6950, General Code, In compliance with Sec¬
tions 2294-2295, General Code.
Denominations, 60 bonds of $1,000 each
$4,000 5% 5-40-year (optional) bonds was registered by the
and 20 bonds of $893 each.
Date Sept. 1 1910.
Interest semi-annually State
Comptroller on Sept. 27.
at the County Treasurer’s office.
Maturity $3,893 each six months from
March 1 1911 to Sept. 1 1920 Inclusive.
Certified check on a bank in Dela¬
Hamilton,
Hamilton County, Tex.—Bond Sale.—O'Connor
ware County for $2,000, payable to W. H. Bodurtha, County Auditor, is
&
Kahler
of
Chicago have been awarded $15,000 5% 15-40required.
year
(optional)
water-works-construction bonds.
Dillon, Marion County, So. Car.—Bonds Voted.—The
Denomination $500.
Date Feb. 10 1910. Interest annually in Dallas
issuance of $15,000 electric-light-plant bonds was authorized
or Austin.
Total bonded debt, this Issue.
Assessed valuation for 1909
on Sept. 27, it is stated, by a vote of 41 to 11.
$1,111,338.
Real valuation (estimated), $2,000,000.
Hardin County (P. O. Renton), Ohio.—-Bond Sale.—On
Dolores, Montezuma County, Colo.—Bonds Not Sold —
Up to Sept. 26 no award had yet been made of the $60,000 Oct. 3 the $20,000 4)^% 1-5-year (serial) bridge-construction
bonds described in V. 91, p.897, were awarded to the First
bonds offered (V. 91, p. 666) on Sept. 12.
Doniphan School District (P. O. Doniphan), Hall County, National Bank of Cleveland at 100.801 and accrued interest.
Neb .T-Bonds to be Issued Shortly .—A letter received by us The following bids were received:
First Nat. Bank, Cleve
$20,160 25 O.B.Denison A Co.,Cleve_$20,122 25
on Oct. 3 stated that the $15,000 5% high-school-building
Barto, Scott A Co.,Colum. 20,143 00 Field,LongstrethACo.,Cin, 20,117 00
New
First
Nat.
Bk.,Colum 20,143 00 Otis A Hough, Cleveland. 20,112 09
bonds voted on Aug. 18 (V. 91, p. 540) would be sold in
Tillotson A Wolcott,Cleve. 20,140 38 Well, Roth A Co., Cln-— 20,112 09
$2,000 5% storm-water-sewer bonds dated Dec. 1 1909 and due Dec. 1 1911.
1,000 5% Keowee St. bridge bonds dated Jan. 1 1910 and due Jan. 1 1911.
1.600 5% garbage-equipment bonds dated Feb. 15 1910 and due Feb. 15
Du Page County School District No. 46 (0. O. Elmhurst),
Ill.—Bond Offering.—Proposals will be received until 8 p. m.
Oct. 17 by O. G. Fischer, Secretary, for $20,000 5% bonds.
Certified check for $500, payable to the Board of Education,
is
required.
Easley, Pickins County, So. Caro.—Bond Sale.—The
$29,500 5% 20-40-year (optional) coupon water and light
bonds mentioned in V. 91, p. 540, were sold on Sept. 21 to
Ulen, Sutherlin & Co. of Chicago for $29,700—the price thus
being 100.677.
East Spencer (P. O. Salisbury Sub-Station 2), Rowan
County, No. Caro.--Bonds Not Sold.—The $25,000 coupon
water and light bonds offered on Sept..26 (V. 91, p. 818)
were not sold on that day, it is stated.
Elberton, Elbert County, Ga.—Bond Sale.—The following
bids were submitted on Oct. 3 for the $25,000 5% streetimprovement bonds described in V. 91, p. 896:
Isaac G. Swift. Elberton.a$26,250 00 Well, Roth A Co., Cin__a$25,275 00
John W. Dickey, Augusta o25,942 50 SeasongoodAMayer, Cln.
25,100 00
J.H.HllsmanACo., Atlan a25,662 52 Farson, Son A Co., Chic. 525,000 00
Cutter, May A Co., Chic. £25,000 00
a And accrued Interest,
b Less “a reasonable amount to cover the cost
of legal expenses, hlank bonds, Ac.”
x Also pay accrued Interest, the city,
however, to allow them $500 for attorney’s fees, blank bonds and other
legal expenses and the bonds to be delivered in Chicago free of exchange.
Maturity $5,000 on Jan. 1 in each of the years 1933, 1935 and 1937 and
$10,000 on Jan. 1 1940.
Emporia, Lyon County, Kans.—Bonds Voted.—This city
has voted to issue $11,000 434% sewer bonds.
Bonds to be Issued Shortly.—An issue of street-paving bonds
will be placed on the market this month.
Essex County, N. Y.—Bond Sale.—The $60,000 434%
1-30-year
(serial) gold registered county-builaing bonds
Sept. 30 to Adams
described in V. 91. p. 602, were sold on
& Co. of New York City at 102.29.
Stacy A Braun, Toledo
20,136 80 Western German Bk., Cln. 20,11111
Seasongood A Mayer, Cln_ 20,136 00 Farson, Son A Co., Cnic.- 20,095 09
Hayden,Miller A Co.,Cleve 20,130 00 Breed A Harrison, Cln... 20,011 00
The above bidders all offered accrued interest in addition to their bids.
Harrisburg, Pa.—Bond Sale.—The $91,000 4% 5-year
(Series “A”) bonds, bids for which were opened on
Sept. 19 (V. 91, p. 897), were sold on Sept. 20 to the Harris¬
burg Trust Co. and the First National Bank, both of Harris¬
burg, at their jqint bid of $91,010, or 100.01.
Hawthorne School District (P. O. Hawthorne), Passaie
County, N. J.—Bonds Not Sold.—No bids were received on
Oct. 3 for the two issues of 5% school bonds, aggregating
$34,500, described in V. 91, p. 897. The Board will decide
at its next regular meeting, Oct. 11, what further action is to
be taken looking towards their sale.
Hinkley School District, San Bernardino County, Cal.—
Bond Sale.—The $2,000 5% gold bonds offered on Sept.. 26,
and described in Y. 91, p. 819, were awarded to the Anierican
Savings Bank in Los Angeles at 100.375 and accrued interest.
The only other bidder was James H. Adams & Co. of Los
Angeles at par and accrued interest. Maturity $500 in the
years 1915, 1920, 1925 and 1930.
Homer, Claiborne Parish, La.—Bond Offering.—Proposals
will be received until 8 p. m. Nov. 1 by A. R. Johnson,
Mayor, for $40,000 5% coupon water bonds.
coupon
Denomination $1,000.
Date Jan. 1 1910. Interest seml-ennuallylat
the Town Treasurer’s office or the Hanover National Bank In New York
City, at option of holder.
Interest to July 1 1910 canceled.
Maturity
Jan. 1 1950. subject to call after 20 years.
Certified check for 2% of bonds
bid for, payable to the Town Treasurer, is required.
The bonds will be
certified as to their genuineness by the United States Mortgage A Trust Co.
of New York City and their legality will be approved by Messrs. Caldwell A
Reed of New York City, whose opinion will be delivered to the purchaser.
Delivery of bonds to be made on or about Nov. 15. Purchaser to pay ac¬
crued interest from July 11910.
Bids to be made on blank forms furnished
by the town. Assessed valuation 1909, $566,180. Actual value (esti¬
mated), $1,000,000. G. G. Gill is Town Clerk. These bonds wereloffered
on Sept. 15.
See V. 91, p. 666.
'
about three months.
978
THE CHRONICLE
Howard County (P. 0. Big Springs), Tex.—Bonds Voted.—
The election held Sept. 26 resulted, it is stated, in favor of
the proposition to issue the
$100,000 good-road bonds men¬
tioned in V. 91, p. 743.
The vote was 424 “for” to 128
'‘against.”
Jacksboro Independent School District (P. O. Jacksboro),
Jack County, Tex.—Bonds Awarded in Part.—Of the
t VOL.
LXXtXl.
1912 and $5,500 in 1913, 1914 and In
1915.
Certified check on a Toledo
bank (or cash) for $500 Is
required. Purchaser to pay accrued interest.
McCulloch County Common School District No. 7, Tex.—
Bonds Awarded in Part.—Of the
$12,500 bonds registered on
June 8 by the State
Comptroller (V. 90, p. 1696), $5,000
were sold on Oct. 1 to the State School
Fund at par and
accrued interest.
The securities carry 5% interest and
mature in 40 years, but are
subject to call after 5
$30,000
5% 10-40-year (optional) building bonds voted on March 12 1
years.
McLean Independent School District (P. O.
<V. 90, p. 798)., $20,000 have been purchased by the State
McLean), Gray
Permanent School Fund at par and accrued interest. The County, Tex.—Bonds Awarded in Part.—On Oct. 1 the State
taking of $15,000 of the bonds by the State was mentioned in School Fund purchased at par and interest $4,000 of the
V. 91, p. 743; the $5,000 now taken were
$25,000 5% 40-year bonds offered, but not sold, on June 3
purchased Oct. 1.
Jersey Independent School District (P. O. Newark), (V. 91, p. 53). This makes $19,000 sold to the State to
Licking County, Ohio.—Bond Sale.—On Sept. 12 the $10,000 date, the sale of $15,000 having been reported in V. 91, p.744.
4J^% 1-20-year (serial) school-construction bonds described
Malden, Dunklin County, Mo.—Price Paid for Bonds.—
in V. 91, p. 478, were
awarded, it is stated, to the Pataskala The price paid for the $30,000 water and light bonds recently
awarded to the Wm. R. Compton Co. of St. Louis
Banking Co. at Pataskala.
(V. 91,
p.
541) was par.
Kansas City School District (P. O. Kansas City), Jackson
The securities carry semi-annual Interest at the rate
County, MO.—Bonds Awarded in Part.—Of the $750,000 4% tion
of 5%.
Denomina¬
$500.
Date March 1 1910.
Maturity 1930, subject to call after 1920.
20-year gold coupon (with privilege of registration as to
Manchester, Hillsboro County, N. H.—Bond Sale.—An
principal) school-building bonds mentioned in V. 91, p. 743, issue
of $21,000 3 24%
20-year cemetery bonds has been dis¬
$200,000 have been sold to the Commerce Trust Co. of Kansas
City, Mo. Denomination $1,000. Date July 1 1910. In¬ posed of at par to the Trustees of the Cemetery Fund.
terest semi-annually in New York
Mansfield, Ohio.—Bonds Auihorized.—The City Council
City.
King County (P. O. Seattle), Wash.—Bond Election.—Pro¬ has passed an Ordinance providing for the issuance of $12,000
positions to issue the following 20-year bonds at not exceed- 4% pumping-station and water-main bonds. Denomination
ing 4*4% interest will be submitted, according to Seattle $1,000. Maturity $1,000 yearly on Sept. 1 from 1912 to
1923 inclusive.
papers, to a vote of the people on Nov. 8: $600,000 to
pro¬
cure the
Marcy, Oneida County, N. Y.—Bond Sale.—The $12,312 55
right-of-way for the Duwamish Waterway, $750,000
for the excavation of the Lake
Washington Canal, $25,000 4/4% highway bonds offered on Aug. 29 and described in
for the dredging of the Sammamish
V. 91, p. 541, were awarded to Utica Trust &
River, bringing Lake of
Deposit Co.
Sammamish into the general chain of
dockage; $325,000 for ,12 Utica at par on Sept. 3. Maturity $1,000 yearly on April
from 1911 to 1922 and $312 55 on
public ownership of wharves and docks and $50,000 for the
April 12 1923.
diverting of the Cedar River into Lake Washington.
Mart Independent School District
(P. O. Mart), McLennon
Lake County (P. O. Painesville), Ohio.—Bond
Sale.—The County, Tex.—Bonds Awarded in Part.—The State School
$28,000 4J^% coupon Lake Road (Willoughby Township) Fund on Oct. 1 purchased $5,000 of the $40,000 5% 20-40improvement bonds offered on Oct. 3, and described in V. 91, year (optional) school-house bonds offered on June 20. This
p. 820, were awarded to Hayden, Miller & Co. of Cleveland makes a total of $20,000 bonds sold to the State to date.
at 101.851 and accrued interest.
The following are the bids See V. 91, p. 417.
received:
Mechanicsburg, Cumberland County, Pa.—Bond Offering.
Hayden,Miller & Co.,Clev.$28,518 50 Rogers & Son...
$28,471 00
—Proposals
O.E.Denison As Co., Cleve. 28,513 75
will be received until 7 p. m. Oct. 13 by Samuel
TheDavies-BertramCo.,Cln 28,463 00
First National Bank, Clev. 28,509 75 Otis
& Hough Co., Cleve.. 28,455 00
E.
Basehore, Secretary of Council, for $39,000 4% streetBarto, Scott & Co.,Colum. 28,504 00 Western German
Bk.,Cln_ 28,428 10
TUlotson&WolcottCo.,Clev 28,491 32 Breed & Harrison, Cln
improvement
bonds. These bonds are part of an issue of
28,408
80
Seasongood & Mayer, Cln. 28,485 00 New First N. Bk., Colum.
28,289 00
Stacy & Braun, Toledo
28,481 40
$60,000.
Maturity
March
.
$2,000
1
months from March 1
1912 and
1913 to Sept.
Sept. 1 1912 and $1,500 each six
1
1920 Inclusive.
Las Animas County (P. O.
Trinidad), Colo.—Bond Elec¬
tion.—A proposition to issue
$155,000 4 >£% refunding bonds
will be submitted to a vote of the
people on Nov. 8.
Leavenworth, Leavenworth County, Kan .—Bond Sale.—
$22,691 11 5% street-improvement bonds was
disposed of on Sept. 20 to local investors at prices ranging
An issue of
from 101.50 to 102.125.
Denomination $500 except one bond of $330 86 and
one of $360 25.
Date Sept. 1 1910.
Interest semi-annual.
Maturity part yearly from
1911 to 1920 Inclusive.
Leetonia, Columbiana County, Ohio.—Bond Sale.—The
following 5% Columbia Street improvement bonds were
awarded on Sept. 26, it is
stated, to Tillotson & Wolcott Co.
Denominations $500 and $1,000.
Bonds bear Interest from July 1 1910.
Interest-bearing period after
tax-exempt In Pennsylvania.
Maturity Jan. 1 1938, subject to
Jan.
1
1923.
Bonds
are
call at any
Official notice of this bond offering will be found among the
advertisements elsewhere in this Department.
Medford School District (P. O. Medford), Grant
County,
Okla.—Bonds Voted.—An election held
Sept. 27 resulted in
favor of a proposition to issue $40,000
school-building bonds.
The vote is reported as 288 “for” to 153
“against.”
Merriam School District (P. O.
Merriam), Johnson County,
Kan .—Bonds
school bonds
“for” to 13
Voted.—It is stated that the issuance of
$20,000
authorized on Sept. 24 by a vote of 101
was
“against.”
Middletown School District (P. O.
Middletown), Dauphin
County, Pa.—Bonds Not Sold.—Reports state that no sale
103.462.
was made on
Denomination $1,380
4,500 village’s portion bonds at 103.464.
Sept. 19 of the $50,000 4% coupon schoolDenomination $450.
Date Sept. 10 1910.
Interest annual.
building
bonds described in V. 91, p. 744.
Maturity
one bond of each Issue
yearly on March 10 from 1911 to 1920 Inclusive.
Milford Independent School District
(P. O. Milford), Ellis
Longmont, Boulder County, Colo.—Bond Sales.—The fol¬ County, Tex.—Bond
Sale.—This district on Oct. 1 sold
lowing gold coupon water-works bonds have been sold:
$5,000 of the $20,000 5% 20-40-year (optional) school-build¬
$165,000 4 H% (first series of 1910) bonds Issued
on Jan.
1.
Interest
ing
bonds offered on May 17 (V. 90, p. 1316), to the State
Jan. 1 and July 1.
Maturity Jan. 1 1925, subject to call School Fund at
after Jan. 1 1920.
par and interest.
The other $15,000 bonds
30,000 5M% (second series of 1910) bonds Issued
were also
Aug. 1 1910. Interest
purchased by the State School Fund. See V. 91,
Feb. 1 and Aug. 1.' Maturity
Aug. 1 1925.
Interest Is payable at the Hanover
p. 667.
National Bank In New York City.
Lorain, Lorain County, Ohio.—Bond Sale.—The
Minnehaha
following Election.—TheCounty (P. O. Sioux Falls), So. Dak.—Bond
bids were received on Oct. 4 for the
question of issuing $50,000 jail bonds will be
$20,000 4)4% 10-year
voted upon on Nov. 8.
coupon river-improvement bonds described in V.
91, p. 898:
TIUotsonAWolcott, Cleve_$20,640 00 Stacy & Braun,
Moore School District, Fergus County, Mont.—Bond Sale.
Toledo...$20,553 0
Well, Roth As Co., Clncin. 20,605 00
—On Sept. 17 $1,100 6% 20-year bonds were
Otis & Hough, Cleveland. 20,580 00 Cent.Tr.AsSafeDep.Co.,Cln.20,550 0
awarded, it is
Barto, Scott As Co., Colum 20,572 00 Hayden, Miller & Co., Cle. 20,530 0
stated, to the Bank of Fergus County in Lewistown at 100.20.
C. E. Denison A Co., Cleve 20,554 75 SeasongoodAcMayer, Cln.. 20,412 0
G. H. Breyman Bros
20,000 0
Moscow, Latah County, Idaho.—Bond Sale.—The $40,000
Los Angeles County (P. O. Los
Angeles), Cal.—Bon
5}4%
10-20-year (optional) coupon refunding bonds, offered
Offering.—Proposals will be received until 2 p. m. Oct. 1
without success on Sept. 3 (V. 91, p.
821), have been pur¬
(not Oct. 10, as at first reported) by the Board of
chased by O'Connor & Kahler of
Supervisor!
C. G. Keyes, ex-officio
Chicago. Interest semi¬
Clerk, for $525,000 434% gold roa
annual.
bonds. These securities are
part of the issue of $3,500,00
Motley County Common School District No. 6, Tex.—
bonds, $1,050,000 of which were sold on Nov. 23 1908 t
Bond Sale.—On Oct. 1 the $5,000 bonds (the unsold
E. H. Rollins & Sons of San
portion
Francisco at 104.775. Se
of the issue of $20,000 5%
Y. 84, p. 1620.
5-40-year—optional—bonds
Denomination $1,000. Date Feb. 1 1909.
mentioned in V. 91, p. 744) were sold to the State School
Interest semi-annually i
the County Treasurer’s office or at
the banking house of Kountze
Fund at par and accrued interest.
In New York City, at
Brothe:
option of holder.
Maturity $15,000 yearly on Feb.
from 1915 to 1949 Inclusive.
Certified or cashier’s check for 3% of bom
Mt. Airy (P. O. Cincinnati), Ohio.—Bonds
bid for, payable to the Chairman
Defeated.—
of the Board, Is required.
Purchaser 1
The proposition to issue the $12,500 4%
pay accrued Interest.
water-system-con¬
struction bonds mentioned in Y. 91,
Lubbock County (P. O.
p.745, was defeated,
Lubbock), Tax.—Bonds Registerec
it is reported, at the election held Oct. 1.
—On Sept. 29 the State
The vote was
Comptroller registered $17,000 59
58 “for” to 43 “against”, two-thirds
10-40-year (optional) jail bonds.
being
necessary to
authorize.
Lucas County (P, O.
Toledo), Ohio.—Bond Offering.Mt. Pleasant Independent School District
Proposals will be received until 10 a. m. Oct. 24
(P. O. Mt.
by
Chas.
J
Pleasant),
Titus County, Tex.—Bonds Awarded in Part.—
Sanzenbacher, County Auditor, for $22,357 50 4^% roac
On Oct. 1 $7,500 of the $22,000 bonds—the unsold
improvement bonds.
portion of
the issue of $32,000 5% 10-40-year
(optional) building bonds
nmnn
General Code: 101 Ohio Laws, pages 253-25
Denomination $500, 6956-15*
except one bond of $357
mentioned in V.
of Cleveland:
$13,800
interest
assessment bonds at
Mmt-anmially
at
the
Treasurer’s office.
50.
Date
Oct. 31
Maturity $5,857
19]
50 I
Fund at par
91, p. 479.—were sold
and accrued interest.
to the State School
THE CHRONICLE
OOT. 8 1910.
Vetoon,
Weslicheste* CMtotjr,
N. Y.—Bond Sale.—
The $25,000 4>£% 20-year coupon highwaiy-re-pavjng bonds1
described in V. 91, p. 821, were awarded on Oct. 4 to N. W.
Harris & Co. of New York City at 103.694.
The following
bids were received:
N. W. Harris & Co,. N.Y_$25,923 50 Cblsholm & Chapman
$25,757 90
E. H. Hollins &Sous-N.y 25,917 50 Adams & Co., New York. 25,757 50
Spitzer & Co., New York. 25,910
Parkinson&Burr, N. Y— 25,889
Dominick&DominlCk, N.Y 25,817
Morgan, LIvermore &Co., N. Y25,817
Parson, Son & Co., N. Y.. 25,766
Estabrook & Co., N. Y
25,765
25 N.W.Halsey&Co., N. Y__
23 W. N. Coler & Co., N. Y._
50 A, B. Leach & Co., N. Y.
50 Eountze Bros., N. Y...
75 Rhoades & Co., New York
00 J. J. Hart, Albany
25.719
25,710
25,695
25,692
25
00
00
50
25,595 50
25,589 00
Bond
Offering.—Proposals will be received until 8 p. m.
(postponed from Oct. 4) by the Common Council for
$20,000 4>^% coupon fire and police department building
Oct. 18
bonds:
iDenomination $1,000.
Date Oct. 1 1910.
Interest semi-annually at
the City Treasurer’s office.
Maturity $5,000 yearly on Oct. 1 from 1933
to 1936 Inclusive.
The legality of the bonds will be approved by J. H.
Caldwell, whose opinion will be furnished to the purchaser.
Bid must be
accompanied by a certified check for $1,000.
The genuineness of the bonds
will be certified to by the United States Mortgage & Trust Co. of New York
City.
Delivery of bonds on or before Oct. 25.
Edwin W. Flske Is Mayor
and A. W. Reynolds is City Clerk.
The
official notice of this bond offering wiU be found among
the advertisements elsewhere in this Department.
Murray School District (P. O. Murray), Hocking County,
Ohio.—Bond Sale.—On Sept. 30 the $5,000 5% coupon
school-improvement bonds described in V. 91, p. 821, were
awarded to Stacy & Braun of Toledo at 102.235 and accrued
interest.
The following were the other bidders:
Mrs. D. Garber, Columbus
M. C. Pond, Columbus
Maturity $1,000 yearly
on
100.721 New First Nat. Bk., Columb_100.21
100.691 K. of P. Lodge, Murray.
Sept. 1 from 1912 to 1916 Inclusive.
par
Nashville, Tenn.—Bond Election.—An election will be held
issuing $300,000 Black
Normal School 43^%
Nov. 8 to vote on the question of
Bottom Park and $25,000 colored
bonds.
Maturity Jan. 1 1941.
Newburgh Heights (P. O. Cleveland), Cuyahoga County,
Ohio.—Bond Offering.—Proposals will be received until
12 m. Nov. 5 by A. W. Shatto, Village Clerk, for the following
5% coupon improvement assessment bonds:
$1,124 78 Alpha
Ave.
sewer
bonds.
Denomination
$562 39.
Maturity
bond on Oct. 15 In 1915 and in 1920.
►
Ave. sewer bonds.
Denomination $582 74.
Maturity
one bond on Oct. 15 In 1915 and in 1920.
989 72 Brldgeview Ave. sewer bonds.
Denomination $494 86.
Ma¬
turity one bond on Oct. 15 in 1915 and in 1920.
1,404 78 Gamma Ave. sewer bonds.
Denomination $702 39.
Maturity
one bond on Oct. 15 in 1915 and in 1920.
one
1,165 48 Beta
1,262 90 McGregor Ave. sewer bonds.
one
Denomination $631 45.
bond on Oct. 15 in 1915 and in 1920.
Maturity
«
449 50 Sigma Ave. sewer bond.
Maturity Oct. 15 1920.,
Date Oct. 15 1910.
Interest semi-annually at the Broadway Savings &
Trust Co. in Cleveland.
Certified check on a Cleveland bank for 5% of bid
Is required.
Bids to be made on blanks furnished by village.
sewer
bonds awarded oh that day, as stated in V. 91, p. 899,
to E. M. Farnsworth & Co.
E. M. Farnsworth & Co-Estabrook & Co
Edmunds Bros
Geo. A. Fernald & Co
Parkinson & Burr
Blodget & Co
103.85
Lee, Hlgginson & Co
103.059 Merrill, Oldham & Co
Adams & Co
The above bidders
Blake Bros. & Co_
103.67
Kuhn, Fisher & Co
103.56
N. W. Harris & Co
103.556 Jackson & Curtis
103.412 R. L. Day & Co
103.31
Perry, Coffin & Burr
-
102.90
102.813
102.518
102.201
102.199
102.16
101.66
103.02
are
all of Boston.
Oakley School District (P. O. Cincinnati), Hamilton
County, Ohio.—Bond Offering.—Proposals will be received'
until 12 m. Oct. 31 by W. E. Seilkop, Clerk Board of Edu¬
cation, for $25,000
school-house-completion bonds.
Authority Sections 3991 and 3992, Revised Statutes. Denomination
$500.
Date Nov. 1 1910.
Interest semi-annual.
Maturity 40 years.
Certified check for 5% of bonds bid for, payable to the Board, is required.
Purchaser to pay accrued Interest.
Oceanside, Cal.—Bonds Voted.-—The election held Sept. 14
resulted in a vote of 90 “for” to 16 “against” the proposition
to issue the $20,000 5% 1-40-year (serial) water-works-
improvement bonds mentioned in V. 91,
will be dated Jan. 1 1911.
p. 668.
Interest semi-annual.
Bonds
Oklahoma City, Okla.—Bond Sale.—The five issues of 5%
25-year bonds aggregating $375,000, offered but not awarded
on July 25 (V. 91, p.
293), have been sold to H. M. Byllesby
& Co. of Chicago.
Omaha, Neb.—Bonds Not Sold.—There were no bidders on
Oct. 5, it is reported, for the $6,500,000 4% 30-year coupon
water-plant-purchase bonds described in V. 91. p. 899.
Bona Sale Not Consummated.—The sale of the $50,000
4/4% 20-year coupon park bonds which were awarded on
May 26 to O’Connor & Kahler of New York City (V. 90, p.
1508) has been canceled.
We are informed that they will
not be re-offered for sale before next March.
Onaga, Pottawatomie County, Kan.—Bond Election.—
on the question of
issuing $18,000 5% 10-30-year (optional) water-worksAn election will be held Oct. 10 to vote
construction bonds.
Orange County (P. O. Goshen), N. Y.—Bond Offering.—
Proposals were asked for until 12 m. yesterday (Oct. 7) by
Robert Johnston, County Treasurer, for $65,000 434%
coupon court-house and jail bonds.
The result of this
offering was not known to us at hour of going to press.
Denomination $1,000.
Date Aug. 1 1910.. Interest semi-annual.
Maturity $5,000 yearly on Feb. 1 from 1912 to 1924 Inclusive. These
bonds were offered without success as 4s on Sept. 26.
See V. 91, p. 899.
Orrville, Wayne County, Ohio.—Bond Sale.—On Sept. 39
4^%
the $9,000
1-9-year (serial) coupon water-worksextension bonds described in V. 91, p , 822, were awarded to
the Citizens’ National Bank of Wooster at 101.40.
The fol¬
lowing bids
were
received:
New Boston (P. O. Portsmouth). Scioto County, Ohio.—
Bond Sale.—On Sept. 17 $7,000 5%
street-improvement
bonds were awarded, it is stated, to Seasongood & Mayer of
Cincinnati at 103.057.
Citizens’ Nat. Bk., Wooster. 101.40
Orrville Nat. Bk., Orrville
101.305
Citizens’
Safe
Deposit
&
Trust Co., Toledo
101.079
Hayden, Miller & Co., Cleve.101.044
Tillotson Wolcott Co., Cleve.101.018
Denomination $1,000.
Date Jan.
1
1910.
Interest semi-annual.
Maturity $1,000 yearly on Jan. 1 from 1913 to 1919 Inclusive.
Ossining, Westchester County, N. Y.—Bond Sale.—The
$200,000 5-29-year (serial) registered sewer improvement
bonds offered on Sept. 20, and described in Y. 91, p. 745,have
been awarded to A. B. Leach & Co. of New York City at
Newton
Seasongood & Mayer, Cln
First Nat. Bk., Col.
Stacy & Braun, Toledo
Provident Saving*. Bank
Trust Co., Cincinnati
Otis & Hough. Cleveland
New
100.844
100.75
100.77
& .j.
100.61
100.533
County (P. O. Newton), Miss.—Bonds Defeated.—
Sept. 30 a proposition to issue court-house bonds was
defeated, it is reported, by a vote of 709 “ for ” to 985 100.052 for 434s..
;
against.
Osyka, Pike County, Miss.—Bond Offering.—Further de¬
New York City.—Bond Sale.—During the, month of tails are at hand relative to the
offering on Oct. 11 of tbel
September the Sinking Fund of this city purchased the bonds $20,000 6% coupon water-works and electric-light bonds
given below at par:
mentioned in V. 91, p. 899.
Proposals will be received for
...Purpose.
Ini. Rate. Maturity.
Amount.
these bonds until 8 p. m. on that day by Clinton Thompson,
Various municipal purposes
3
1959
$129,000
Water bonds
Mayor, >•
3
1959
i.
2,000,000
*»,:>'
«*■
-’4 iv
-3 4*..On
•
General fund bonds
3
1930
Total
The following revenue bonds
also issued during September:
Revenue bonds, eurrent expenses
Revenue bonds, specialTotal
5,000,000
$7,129,000
(temporary securities)
Interest.
3 H
4 >4
were
Amount.
$16,150,000
360,000
$16,510,000
Niles, Trumbull County, Ohio.—Bond Offering.?— Pro¬
posals will be received until 2 p. m. Oct. 18 by Homer
Thomas, City Auditor, for $75,000 4 \i% coupon waterimprovement bonds.
Authority Sections 2835 and 2837, Revised Statutes. Denomination
$500. Date Sept. 1 1910. Interest semi-annually at the City Treasurer’s
Maturity $3,500 yearly on Sept. 1 from 1930 to 1949 Inclusive and
$5,000 Sept. 1 1950. Certified check on a Niles bank for 1% of bonds bid
for, payable to M. J. Flaherty, City Treasurer, Is required.
Purchaser to
pay accrued Interest.
office.
Nolan
County (P. O. Sweet Water), Tex.—Bonds Voted.—
Sept. 24 resulted in favor of the proposition
to issue the $100,000 5% 20-40-year (optional) road bonds
mentioned in V. 91,
p. 542. The vote was 219 “for” to
95 “against”.
Date of sale not yet decided.
Norfolk, Madison County, Neb.—Price Paid for Bonds.—
The price paid for the $12,000 5% 5-20-year (optional)
paving-intersection bonds awarded on Sept. 20 to the
Norfolk National Bank of Norfolk (V. 91, p. 899) was par.
Denomination $1,000.
Date July 1 1910. Interest semi¬
The election held
annual.
Norfolk, Va.—Bond Election Proposed.—At the next meet¬
ing of the City Council, which will be held Oct. 11, a resolu¬
tion will be
the question
presented providing for an election to vote on
of issuing $600,000 water-works-system bonds.
North Andover, Essex County, Mass.—Bids.—The follow¬
ing bids were received on Sept. 29 for the $15,000 4% coupon
.
.
.....>»•>.
Authority, Sections 3415, 3416, 3419, 3420, Chapter 91* Code of l906.
Denomination $1,000.
Date Oct. 4 1910.
Interest semi-annually at any
banking house of New York City,
Bonds are exempt from all taxes. Ma¬
turity Oct. 4,1930., C<
qulred.
Bonded debt
valuation 1909, $434,289.
Peabody, Marion County, Kan.—Bonds Not to be Issued
Present.—The Mayor informs us under date of Oct. 1 that
he thinks it will be about sixty days before* the $7,000 waterworks-extension bonds voted on Aug. 19 (V. 91, p. 542)
at
will be issued.
Penelope Independent School District (P. 0. Penelope)r
Hill County, Tex.—Bond Sale.—Oh Oct. 1 $2,500 more of
the $12,500 5% 10-40-year (optional) bonds registered
by
the State Comptroller on July 1 (V. 91,
p. 170) were awarded
to the State School Fund at par and interest,
In
p. 745, we
the State.
y. 91,
reported the sale of $10,000 of these bonds to
Pittsburgh, Pa.—Bond Election.—The ordinances* recently
passed by Councils providing for the submission to the voters
on Nov. 8 of
propositions to issue bonds aggregating $10,305,000 were signed by Mayor Magee on Sept. 30. See
V. 91, p. 746.
Portland, Ore.—Bond Sale.—Local papers. report that
$144,500 6% public-improvement bonds were disposed of on
Sept. 26 at prices ranging from par to 100.50. The award of
$140,500 of the bonds is reported as follows: $90,500{to
W. F. White at par and accrued interest, $20,000 t6 Morris
Bros, of Portland at 100.055, $20,000 to th£ Scaridinhvian-
American Bank of Portland at from 100.10 to 100.25 and
The papers failed
to state what award was made of the
remaining $4,000 bonds.
$10,000 to the Hibernian Bank at 100.50.
Racine, Wis.—Bond Election.—An election will be held
on the question of
issuing $50,000 434%* 1-20year (serial) school bonds.
Nov. 8 to vote
*
980
THE CHRONICLE
Reno School District No. 129 (P. O. Reno), Leavenworth
[VOL.
LXXXXI
Y. 91,j). 747, were awarded to N. W. Harris & Co. of New
York City at 101.933—a basis of about 4.24%.
Following
are the bids:
County, Kan.—Rond Sale—An issue of $1,000 5% schoolhouse bonds dated July 1 1910 was sold during September
to the State of Kansas at par.
N. W. Harris & Co., N. Y_..101.933
E. H. Rollins & Sons, Boston 101.81
R. L. Day 6b Co., N. Y
.101.79
Estabrook 8b Co.,N. Y._
101.62
Rhoades 8b Co., New York-.101.603
Farson, Son 8b Co., N. Y....101.575
N. W. Halsey 8b Co.. N. Y..101.57
Kountze Bros., New York
101.57
Spltzer 8b Co., New York
101.549
Lee, Hlgglnson & Co.. Bos..101.435
Maturity part yearly on July 1 from 1911 to 1920 Inclusive, subject to
call, however, at any time.
Rosebud County School District No. 20 (P. O. Big Horn),
MOnt.—Bond Sale.—On Sept. 24 the $3,000 6% 10-20-year
(optional) coupon school-house bonds described in V. 91,
p. 822, were awarded, it is stated, to the State of Montana
at par.
O’Connor 8b Kahler, N. Y
101.38
Kissel, Klnnlcutt 8b Co., N.Y.101.98
W. N. Coler 8b Co., N. Y
101.33
Parkinson 8b Burr., N. Y
101.273
Blodget 8b Co., New York
101.66
Wm. A. Read 8b Co.. N. Y..101.62
C. E. Denison 8s Co., Cleve..100.67
White, Weld 8b Co., N. Y...100.66
A. B. Leach 8b Co.. N. Y
100.60
Thos. J. Bolger Co., Chicago. 100.253
Shawnee County (P. O. Topeka), Kan.—Bond Election.—
County (P. o. Rushville), Ind.—Bonds Offered by At the election to be held
Nov. 8 it will be determined
Bankers.—Bonds of Rushville Township, amounting to whether or not
$50,000 bonds shall be issued for the im¬
$50,500, are being offered to investors by the J. F. Wild & provement of the State fair
grounds.
Co. State Bank of Indianapolis.
The securities carry interest
Shreve, Wayne County, Ohio.—Bond Sale.—On Sept. 26
at the rate of 5% and are issued to construct
gravel roads.
the $2,400 5% 2-7-year (serial) coupon
water-works-systemDenominations $500 and $525.
Date June 7 1910.
Interest May 15
and Nov. 15 at the County Treasurer’s office In Rushville.
improvement
bonds described in V. 91 ,p. 823, were awarded
Maturity
Rush
$2,525 each
six months from
May 15 1911 to Nov. 15 1920 Inclusive.
to the Citizens’ National
Bank
of
Rush
for
Wooster
$2,476.50
County School District No. 33, Kan.—Bond Sale.— (103.187) and accrued interest.
During the month of September the State of Kansas pur¬
South Haven, Mich.—Bonds Authorized.—The City Council
chased $1,000 5% school-house bonds at par. The bonds has authorized the
issuance of the following bonds: $22,000
are dated
July 1 1910 and mature part yearly on July 1 from for docks, $20,000 to refund water bonds and
$12,000 for
1911 to 1920 inclusive, but are subject
to call at any time.
harbors.
St. Charles, Saginaw County, Mich.—Bond
South San Joaquin Irrigation District (P. O. Manteca),
Offering.—
Further details are at hand relative to the offering on Oct. 10 San
Joaquin County, Cal.—Bonds Not Yet Sold.—No sale
of the $14,000 4^%
electric-light-plant-construction bonds has yet been made of the $1,073,500 bonds—the unsold
mentioned in V. 91, p. 900.
Proposals will be received will portion of the issue of $1,875,000 5% 30-year irrigation
be received until 8 p. m. on that day by C. H.
Clipper, Clerk. bonds mentioned in V. 91, p. 355.
Authority, Sections 2901-2904, Complied Public Laws. Denomination
$1,000.
Date, “day of Issue.”
Interest at St. Charles State Bank.
Springfield, Mass.—Bond Sale.—On Oct. 5 the $400,000
Ma¬
turity $1,000 yearly from 1912 to 1925 Inclusive.
Bonds are exempt from
4% 1-40-year (serial) gold coupon (with privilege of regis¬
all taxes.
Certified check for $100, payable to the Clerk, Is required.
Assessed valuation 1910, $285,175.
tration) municipal-building bonds and the $340,000 4%
1-20-year (serial) gold registered fire and police-building
St. Paul, Minn.—Bond
Offering.—Proposals will be re¬ bonds,
described in V. 91, p. 900, were sold to E. M. Farns¬
ceived until 12 m. Oct. 10 by W. H.
Farnham, City Comp¬ worth &
Co., Geo. A. Fernald & Co. and Kuhn, Fisher & Co.,
troller, for $150,000 4% school bonds.
all of
Denominations $100 to
years.
$1,000.
Certified check for 2%
San Benito
Interest semi-annual.
Is required.
Boston, at their joint bid of 104.679 and interest.
Springfield, Clark County, Ohio.—Bond Election.—Accord¬
ing to reports,a proposition to issue $130,000 sewer-construc¬
Maturity 30
Independent School District (P. O. San Benito),
Cameron County, Tex.—Bond Sale.—The State School Fund
purchased on Oct. 1 an issue of $2,500 5% bonds at par and
accrued interest.
Maturity 40 years, subject to call after
5
tion bonds will be voted
to be Offered at Present.—We
advised that the five issues of 4^% gold bonds,
aggre¬
gating $1,533,000, voted
on
Aug. 9 (V. 91,
p.
Authority Chapter 99.Sections 3416, 3419 and 3420, Code of 1906,aad
Chapter 142 Acts of 1910. Denomination $500. Date Nov. 1 1616.
Interest semi-annually at the Security State Bank in Starkville.
Maturity
Nov.
543), will not
be offered for sale until after the November election.
San Francisco, Cal.—Bond Offering.—Further details are
at hand relative to the offering on Oct. 17 of the
$1,144,000
bonds mentioned in V. 91, p. 900.
Proposals will be received
1 1930.
Story County (P. O. Nevada), Iowa.—Bond Election.—
reported that propositions to issue $50,000 hospital-
construction, $30,000 county-farm-home and $6,000 fair¬
ground bonds will be voted upon on Nov. 8.
Strothers, Mahoning County, Ohio.—Bond Sale.—The
$2,000 5% 1-4-year (serial) Bridge Street improvement
assessment bonds offered on Sept. 21 and described in Y.
91,
p. 747, were awarded to the Struthers Savings & Banking
that day by the Board of Supervisors, W. R.
Hagerty, Clerk. The bonds answer the following description:
$600,000 5% school bonds dated July 1 1908 and maturing $24,000 yearly
from 1914 to 19S8 Inclusive.
200.000 5% hospital bonds dated July 1 1908 and maturing $10,000
yearly from 1918 to 1932 Inclusive.
200,000 5% hall of justice bonds dated July j 1908 and maturing $10,000
yearly from 1912 to 1931 Inclusive.
144,000 4M% polytechnic high achool bonds dated Jan. 1 1910 and ma¬
turing $6,000 yearly fr#m 1914 to 1937 Inclusive.
The first three Issues mentioned above are part of the
$18,200,000 bonds
voted May 11 1908, of which $12,320,000 have been sold;
$3,280,000 on
Sept. 8 1908 on a 4.46% basis, $5,400,000 Feb.8 1909 on a 4.05% basis and
Co. at 101.2375.
Sylvania, Lucas County, Ohio.—Bond Sale.—The $7,5% coupon Ohio Ave. and Division St. improvement
assessment bonds, described in V. 91, p. 823, were sold on
Oct. 3 to the Sylvania Savings Bank of Sylvania at 102.089
and accrued interest.
Following is a list of the bidders and
the premiums offered by the same.
918 81
on a 4.40% basis. The polytechnic high
nds are a portion of a $600,000 Issue voted June 22 1909, none
school
of which
has been sold as yet.
Denomination $1,000. Interest
at
the City Treasurer’s office or, at option of holder, at thesemi-annually
fiscal agency of
San Francisco In New York City.
Bonds are exempt from all taxes In
'California.
Bids must be made oa blank forms furnished by
city and In¬
clude accrued Interest.
Certified check (or cash) for 5% of bid, payable to
the Clerk of the Board of Supervisors, Is required.
Deposit, however, need
mot exceed $10,000.
The opinion of Dillon 8e Hubbard of New York
City
•as to the legality of the bonds will be furnished to the
purchasers.
Sylvania Sav. Bk., Sylvania.$165 501 Stacy 8c Braun, Toledo.
$52 75
Merch.8BClerks’Sav.Bk.,Tol.
115 001 Seasongood 6o Mayer, Cln
20 65
Hayden, Miller 8b Co., Cleve. 108 00! New First National Bank,
60 001
Well, Roth 8c Co.. Cincinnati
Columbus
5 66
Maturity $718 81 on March 15 1911 and $800 each six months from
Sept. 15 1911 to Sept. 15 1915 inclusive.
-
_
San Saba Independent School District (P.
O. San Saba),
Ban Saba County, Tex.—Rond Sale.—An issue of
$6,000 5%
Tacoma, Wash.—Bids.—The following bids were received
Sept. 26 for the $200,000 20-year gold coupon Green River
Gravity Water System construction bonds, the sale of which
was reported last week.
on
5-20-year (optional) bonds was disposed of at par and ac¬
crued interest to the State Permanent School Fund on Oct. 1.
Saranac Lake, Franklin County, N. Y —Bond Sale.—On
Oct. 3 the five issues of registered or
coupon bonds described
in V. 91, p. 900, were disposed of to O’Connor & Kahler of
New York City as follows: $40,000
paving bonds, due $4,000
yearly on Sept. 1 from 1917 to 1926 inclusive, awarded at
100.03 for 4^s; $15,000 paving bonds, due $1,000
yearly
E.
on
inclusive, sold at 100.21 for 4.45s, and $9,000 crematory
bonds, due $500 yearly on Aug. 1 from 1915 to 1932 inclusive,
disposed of at 100.17 for 4.45s. Purchasers to pay accrued
interest.
The other bidders
were:
$40,000 $15,000 $28,000 $15,000 $9,000
paving paving
water
Jire crematory
bonds.
bonds.
bonds.
Estabrook & Co., New York_. .100.98
101.305 104.36
Edmund Seymour 8c Co., N. Y -100.25
100.35
101.05
W. N. Color 8c Co., New York..
102.77
<3eo. M. Hahn 8e Co., New York/for the five
Issues, par
_
The above bids
were
all made for 4 M% bonds.
100.39
bonds.
101.80
100.27
101.41
bonds.
101.44
100.17
101.40
100.39
Scarsdale (P. 0. White Plains), N. Y.—Bond
Sale.—On
Sept. 28 the $49,000 4>£% registered highway-improvement
bonds
described in V. 91, p. 823, were awarded to N. W.
Harris & Co. of New York City at 101.392 and
accrued inter¬
est.
Maturity $1,000 in 1911 and $2,000 yearly from 1912
to 1935 inclusive.
Schenectady, N. Y .—Bond Sale— On Sept. 30 the $85,000
4^% 1-17-year (serial) registered sewer bonds described in
H. Rollins 8c
Boston
Sons, Chicago and Parkinson 8c Burr,
$202,320
Woodin, McNear 8s Moore, Chicago, Seasongood & Mayer
and Provident Savings Bk. 8c Trust Co., Cincinnati
201,760
N. W. Halsey 8c Co., Chicago
201,120
Harris Trust 8c Savings Bank, Chicago
200,780
Estabrook 8c Co., Chicago
200,640
Thos. J. Bolger Co., Chicago
*
1200,690
Sept. 1 from 1916 to 1930 inclusive, awarded at 100.21 for
4^s; $28,000 water bonds, due $1,000 yearly on May 1 from
1940 to 1967 inclusive, sold at 100.17 for
4.40s; $15,000 fire¬
house bonds, due $600 yearly on July 1 from 1915 to 1939
Certified check for $750 is required.
It is
until 3 p. m. on
e,640,000 Dec. 6 1909
at the fall election.
Starkville, Oktibbeha County, Miss.—Bond Offering.—
Proposals will be received until 8 p. m. Oct. 15 by Walter
Page, City Clerk, for $14,000 school-building and improve¬
ment and $2,000 street-improvement 6%
coupon bonds.
yedrs.
San Diego, Cal.—Bonds Not
are
on
for 4 Ms
for
for
for
for
for
4 Ms
4 Ms
4 Ms
4 Ms
4 Ms
[206,520 for 5s
f 197,800 for 4 Ms
Well, Roth 8c Co., Cincinnati
...{203,023 for 4
1210,501 for 5s
Wm. A. Read 8c Co., Chicago
[195,180 for 4 Ms
„
O’Connor 8c Kahler, Nevr York
Merchants’ Loan 8c Trust Co., Chicago.
S. A. Kean 8c Co., Chicago.
Farson, Son 8c Co., Chicago
L. N. Rosenbaum, Seattle
,
[206,940 for 5s
210,440 for 5s
210,320 for 5s
205,200 for 5s
202,022 for 5s
200,633 66 for 5s
Terrell, Tex.—Bonds Registered.—The $8,000 5% 15-40and light bonds offered without success
543) were registered by the State Comp¬
year (optional) water
on June 15 (V. 91, p.
troller on Sept. 27.
Terrell County Common School District No. 1, Tex.—Bond
Sale.—On Oct. 1 the $10,000 bonds (the unsold portion of the
issue of $25,000 5% 5-40-year (optional) bonds mentioned
in V. 91, p. 747, were disposed of at par and accrued interest
to the State School Fund.
Theresa, Jefferson County, N. Y.—Bonds Not to be Offered,
Village Clerk informs us that the $16,500
water bonds which, it was reported, would be offered
Sept. 13,
“will not be sold until the spring.”
Toledo, Ohio.—Bond Sales.—During the quarter ending
Sept. 30 the following bonds were issued b^his city:
at Present.—The
<■>
Oot. 8
1910.]
THE j CHRONICLE
170,000 00 4% market-place bonds dated March 1 1910 and due March 1
»•
1930.
Of this Issue one-half was purchased by the
city’s
sinking fund and one-half by the sinking fund of the
school district.
2,599 13 5% Sewer No. 1091 assessment bonds dated Sept. 19 1910
and due part each six months beginning March 19 1911.
Purchased by city’s sinking fund.
311 77 5% Sewer No. 1,090 assessment bonds dated July 31 1910 and
due part each six months beginning March 31 1911.
Pur¬
chased
The above bonds
by city’s sinking fund.
all sold at par
and accrued interest.
Bonds Authorized.—Ordinances were passed on Sept. 26
providing for the issuance of the following|4% coupon bonds:
3200,000
were
water-works-improvement bonds.
Denomination 51,000. Date
Oct. 1 1910.
interest semi-annually at the U. S. Mortgage &
Trust Co. in New York City.
Maturity 550,000 on Oct. 1 in each
of the years 1923, 1924, 1925 and 1926.
80,000 street improvement bonds (city’s portion).
Date Oct. 15 1910.
Interest semi-annually at the U. S. Mortgage & Trust Co. of New
York City.
Maturity 5 years.
Topeka, Kans.—Bond Sale.—The following 4^% 20-year
bonds have been sold: $17,700 for the erection of a
crematory
plant, $39,411 41 to build an extension to the Melan Bridge
and
$4,101 to construct
a
Creek.
bridge
across
the
Shunganunga
Bonds Proposed.—This city
time this month with $1,015
981
p. 901, were awarded to E. H. Rollins & Sons of Boston at
100.82 and accrued interest.
Other bids received were as
follows:
t
J. S. & W. S.
Kuhn, Pittsburgh
Hayden, Miller & Co., Cleveland
Oil City Trust Co., Oil City
Franklin Trust Co., Franklin
$176,240
175,297
175,175
175,175
■
00
50
50
50
Wabash, Wabash County, Ind.—Bond Offering.—W. G.
Gardner, County Treasurer, is offering at private sale $70,400
5% coupon street-improvement bonds.
Denomination 51.770.
Date May 15 1910.
Interest semi-annually at
the Capital National Bank in Indianapolis.
Maturity from 1911 to 1930
inclusive.
Wall, Allegheny County, Pa.—Bond Sale.—This borough
has sold $35,000 street bonds.
Warren, Warren County, Pa.—Bond Sale.—On Sept. 30
$25,000 street and sewer and the $15,000 funding 4^%
coupon bonds described in V. 91, p. 824, were sold to N. W.
Harris & Co. of New York City at 103.079 and accrued in¬
terest.
The following proposals were submitted:
the
N. W. Harris & Co., N. Y.541,231 60 H. P. Taylor&Co.,Plttsb_540,857 50
Lawr. Barnum &Co.,N.Y. 41,228 00 C. E. Denison & Co.,Clev_ 40,828 75
Tlllotson&WolcottCo.,Clev 40,908 00 Hayden,MUler & Co.,Clev_ 40,756 00
J.S.& W.S.Kuhn.Inc.,Pltt 40,867 20
Six other bids were also received,
Maturity 510,000 on Oct. I 1920 and
515,000 on Oct. 1 In each of the years 1930 and 1940.
will be on the market some
bonds. It is expected, how¬
ever, that they will be sold locally.
Trenton, Gibson County, Tenn.—Bond Sale.—The $12,0t)0
Waterman School District, San Bernardino County, Cal.—
6% 5-30-year (optional) electric-light-plant bonds mentioned Bond Sale.—The $3,000 5% gold bonds offered on
Sept. 26
in V. 91, p. 543, have been awarded at
par to Keenan & and described in V. 91, p. 824, were awarded to the American
Wade, owners of the local light plant.
Savings Bank in Los Angeles at 100.20 and accrued interest.
Troy, N. Y —Bond Sale—On Oct. 1 $15,000 4% water- There were no other bidders. Maturity $500 in each of the
refunding bonds were awarded to H. N. Gordinier, City years 1913, 1915, 1917, 1919, 1921 and 1923.
Comptroller* as “Trustee of Sinking Fund for Redemption of
Wayne County (P. O. Detroit), Mich.—Bond Election Pro¬
Water-Works Bonds of Aug. 1 1879/' at par.
posed.—This
county, it is stated, proposes to call an election
Denomination $750.
Date Oct. 1 1910.
Interest semi-annual.
Ma¬
to vote on the question of issuing $2,000,000 good-road
turity 5750 yearly from 1911 to 1930 Inclusive.
bonds.
Wayne
Township
School
District
(P. O. Good Hope),
Vail, Crawford County, Iowa.—Bonds Offered by Bankers.
Fayette County, Ohio.—Bond Offering.—Proposals will be
—School 5% bonds, amounting to $9,000, are
being offered received until 12 m. Nov. 1 by C. W.
at 102.22 and interest by the First National Bank of
Walker, Clerk Board of
Chicago. Education, for $30,000 5%
Denomination 51,000.
Date June
1
1910.
coupon school-building and siteInterest semi-annual.
Maturity June 1 1920, subject to call after June 1 1915.
Total bonded
purchase bonds.
Taxable value 5183,942.
debt, this Issue.
Actual
value
5735,768.
(estimated)
Venango County (P. O. Franklin), Pa.—Bond Sale— On
Oct. 1 the $175,000 4J^% bridge bonds, described in V.
91,
NEW LOANS.
Authority Sections 7625, 7626 and 7627, General Code of Ohio.
De¬
5500.
Date Nov. 1 1910.
Int. Mch. & Sept, at Commercial
Baik, Washington Court House. Maturity on Sept. 1 as follows: 51,500 in
1912, 52,000 in 1913, 53,000 in 1914, 53,500 in 1915 and 54,000 yearly from
1916 to 1920 inclusive.
Certified check for 5100, payable to the Clerk
nomination
NEW LOANS.
MISCELLANEOUS.
820,000
839,000
CITY OF MOUNT VERNON,
Borough of Mechanicsburg, Pa.
Westchester
,
County, N. Y.,
STREET IMPROVEMENT RONDS
FIRE AND POLICE DEPARTMENT
BUILDING BONDS
The Common Council of the City of Mount
Vernon will, at Its chambers in the Lucas Bulldng, Depot Place, In the City of Mount Vernon.
N. Y., on the 18TH DAY OF OCTOBER, 1910,
at 8 o'clock
p.m., receive sealed proposals for the
Surchase of bonds, to be denominated
"Fire and
'ollce Department Building Bonds’’, numbered
oonsecutlvely from 101 to 120, both Inclusive,
each bond to be for the principal sum of one
thousand (51.000) dollars.
The said Common Counoll will then and there
proposals and accept the most favorable
thereof, unless It deem It for the best Interest of
the city to reject any and all of said proposals.
These bonds will be for the principal sum of
51,000, with Interest coupons attached, and will
bear interest at the rate of four and one-half
(4 H per centum) per centum per annum, payable
semi-annually at tne offfflce of the City Treasurer
of the City of Mount Vernon.
They will be dated
the 1st day of October, 1910, and payable as
open such
follows:
55,000 thereof on the 1st day of October, 1933.
5,000 thereof on the 1st day of October, 1934.
5,000 thereof on the 1st day of October, 1935.
5,000 thereof on the 1st day of October, 1936.
The bonds will be delivered to the purchaser on
or before the 25th day of October, 1910.
Each bid for said bonds must be accompanied
by a certified check for the sum of One Thousand
(51.000) Dollars as a security for the performance
of such bid as liquidated damages In the event of
the failure of the successful bidder to accept and
pay for said bonds.
Bonds will be engraved under the supervision of
and certified as to their genuineness by the United
States Mortgage 8; Trust Company and their
legality approved by J. H. Caldwell, Esq., of
New York City, whose opinion as to legality will
be furnished to the purchaser.
By statute the bonds cannot be sold for less than
par and accrued Interest.
By order of the Common Council. October 4th,
Sealed bids will be received by the Secretary
of the Town Council of Mechanicsburg, Pa.,
until seven o’clock, p. m., OCTOBER 13, 1910,
for bonds of the borough of Mechanicsburg, Pa.,
in sums of 5500 and 51,000 each, to the amount
of 539,000.
These bonds are a part of the issue
for a loan of 560,000 authorized by the Borough
in Ordinance Nos. 177 and 186, for street im¬
provement, and bear interest at 4 per cent per
annum
from July 1, 1910. and are payable
January 1, 1938, or redeemable at the option of
the Borough at anr interest-bearing period after
January 1, 1923. Said bonds are free of tax in
Bids must be
560.000 Issue."
endorsed
"Bid
for
Bonds
A/V
/O
*n
^ A?
Write for
Secretary of Council,
Mechanicsburg, Pa.
BANKERS
CHICAOO
R. T. Wilson & Co.
IS WALL STREET
New YORK
a
very
exceptional
DRAINAGE
BOND
NETT1NQ
6%
400 The
Rookery
OHIOAGO
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
Charles M. Smith & Co
SEAS0NG00D A MAYER
CORPORATION AND
MUNICIPAL BONDS
Mercantile Library Building
CINCINNATI
IRST NATIONAL BANK BUILDING
OHIOAGO
BLODGET & CO.
BONDS
€0 STATE
STREET, BOSTON
HODENPYL, WALBRIDGE & CO.
7 Wall St..
N.w York
Railroad, Street Ry., Gas a Elec. Light
SECURITIES
30 FINE STREET, NEW TORN
STATE, CITY a RAILROAD BONDS
McCOY & COMPANY
Municipal and
Corporation Bords
F. WM. KRAFT
LAWYER
Specializing in Examination of
Municipal and Corporation Bonds
ISIS FIRST NATIONAL BANK BLDO..
CHICAGO, ILL.
181
La Sail*
Circular.
ULEN, SUTHERLIN & CO.
We offer
of
Ail bids for bonds must be addressed to
SAMUEL E. BASEHORE,
MUNICIPAL BONDS
Safest investments
known. Yielding fr®11*
Manicipal and Corperatiu Ends
Pennsylvania.
1910.
EDWIN W. FISKE,
Mayor of the City of Mount Vernon.
A. W. REYNOLDS.
City Clerk.
Reynolds, Watson & Co.
Street, Chleage$
ESTABLISHED 1880
H C. SPEER & SONS CO.
First Mat. Bank Bldg.,
Chlotfe
SCHOOL,
COUNTY AND
MUNICIPAL BONDS
FORRRST A CO.
BANKERS
l 411 Cfcutaat St..
PHILADELPHIA. PA.
Municipal and
Corporation Bonds
•
982
THE CHRONICLE
Board of Education, Is required.
The bonds will be delivered- within ten
days from, the time of award. Purchaser to pay accrued Interest/ The
district has no debt at present.
Assessed valuation,
These bonds were offered but not awarded on July 11.
1910,
$1,294,000.
See V. 91, p. 172.
Westemport, Allegany County, Md.—Bonds Voted.—It is
stated that an election held recently resulted in favor of the
issuance of $75,000 bonds for water-works, $10,000 for paving,
$10,000 for sewerage-system and $5,000 for
a
the Potomac River.
bridge
over
|V
Ai<
LXXX>I
Balc&rres, Sask.—Debenture Sale—The $3,500 6% 1-15-year
debentures offered on Sept. 12 (V. 91, p. 670), were sold
to the National Trust Co.,-Ltd., of Toronto at 102.55 and
accrued interest.
The following bids were received:
National Tr. Co., Ltd.,Tor.$3,589
J.A.Reid & Co.. Ltd., Reg. 3,227
251 Nay & James, Regina
83,225 00
001
Balgonie School District No. 198 (P. O. Balgonie), Sask.
Regina has
purchased $5,000 6% school-house-addition debentures
—Debenture Sale.—The National Finance Co. of
Westfield, Union County, K. J.—Bond Sale.—On Oct. 3
privilege of registra¬
tion) park bonds, described in V. 91, p. 825, were awarded
to the People’s National Bank in Westfield for $6,901, the
price thus being 100.363. The other bids received were as
the $6,876 4J^% 30-year coupon (with
at 100.60.
Westfield Tr. Co., Westfield. 100.1251 John D. Everitt & Co., N. Y.100.04
Blake School District No. 94 (P. O. Gladstone), Man.—
Bond Sale.—The $2,000 6% school-construction debentures
mentioned in V. 91, p. 483, were awarded on Sept. 10 to
I. W. Armstrong, M.D., M.P.P., of Gladstone.
Maturity
interest.
bids
follows:
part yearly on Sept. 1 for 15 years.
Winnemucca, Humboldt, County, Nev.—Bond Sale.—
An issue of $36,000 6% sewer bonds was awarded on Sept. 6
BoWlhahville, Ont.—Debenture Sale.—The $12,000 4^%
to the First National Bank in Winnemucca at par.
debentures offered without success on Aug. 15
electric-light
Denom¬
ination $500.
Date Sept. 7 1910. Interest annually in (V. 91, p. 670) were sold during September to W. A. Mac¬
kenzie & Co. of Toronto.
The debentures are dated July 1
January.
1910 and mature part yearly for 20 years.
Winthrop, Suffolk County, Mass.—Bond Sale.—On Oct. 4
the $55,000 4% 1-10-year (serial) coupon municipal bonds
Castor School District No. 2194, Sask.—Debenture Sale.—
described in V. 91, p. 902, were sold, according to reports, Nay & James of Regina were recently awarded an issue of
to Kuhn, Fisher & Co. of Boston at 101.27—a basis of $20,000 6% debentures, it is reported.
Maturity part yearly
for 20 years.
about 3.742%.
Colchester North Township, Essex County, Ont.—Deben¬
Yonkers, N. Y.—Bond Offering.—Proposals will be re¬
ceived until 12 m. Oct. 11 by Joseph Miller, City Comp¬ ture Sale.—G. A. Stimson & Co. of Toronto was recently
awarded $9,600 15 5% drainage debentures.
troller, for $80,000 43^% registered school bonds.
Date Oct. 1 1910.
Interest semi-annually In New York exchange.
Darlingford School District (P. O. Darling!ord), Man.—
Maturity 94,000 yearly on Oct. 1 from 1911 to 1930 Inclusive
The opinion
Debenture Sale.—On Oct. 1 the $8,000 6% debentures de¬
of Messrs. Hawkins, Delafleld & Longfellow of New York City, certifying
to the validity of these bonds, will be furnished to the purchaser. Certified
scribed in V. 91, p. 902, were sold to the Toronto General
check for 2% of bonds bid for, payable to the Comptroller, Is required.
Trusts Corporation of Toronto at 102.65.
Bonds will be ready for delivery Oct. 20.
The following
Purchaser to pay accrued
Canadian its Pro Via cesand Municipalities.
Anderson School District No. 434 (P. O. Bardo), Alberta.
—Debenture Sale.—An issue of $1,500 6% school-house
debentures was disposed of on Aug. 25 to the Bank of Ottawa
in Edmonton at 101.
Date Sept. 1 1910.
Interest annual.
Maturity part yearly for 10
years.
were
received:
Toronto General Trusts Corp., Toronto
.$8,212
National Finance Co., Regina. 8,186
C. H. Burgess & Co., Toronto.a8,175
Brent, Noxon & Co., Toronto.£8, 142
J. G. Mackintosh & Co., Hali¬
fax
£$8,130
Ontario Securities Co., Tor’to £8,027
Confed. Life As. Co., WIn'peg
8,000
W. A. McKenzie & Co., Tor.
7.840
a Also pay all expenses of the issue,
x Also pay accrued interest and
all expenses.
A bid was also received from Nay & James of Regina.
Maturity part
yearly on Jan. 1 for 19 years.
MISCELLANEOUS.
L'»*
* %
MISCELLANEOUS.
*
NATIONAL LIGHT.
•
,
■
»
it
■
V
%*
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HEAT A POWER COMPANY
Home Office, 206
La Salle Street
CHICAGO
‘bonds’
Writes all classes surety bonds
A. H. Bickmore & Co.,
Court—Fidelity—Contract—Miscellaneous
The motto
BANKERS
30 Pin* Stroot.
of the Illinois Surety Company is “Prompt Service**
of its business and the adjustment of its losses
Now
loth in the handling
1
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.hn?
J’it;
.■ ■
-»*yf '■:he ml
Wi
MELLON NATIONAL BANK
UA
THE AMERICAN MFG. CO.
PITTSBURGH, PA.
MANILA, SISAL AND JUTE
As your reserve/ depositary,
this
bank offers you perfect service and
liberal interest on your balances.
CAPITAL AND SURPLUS,
;?t
%
*
*
\
t
CORDAGE
65 Wall Street
New York
$7,< 00,000
;
-f.
>;» ::'T e
j
c. ~
gfiz (&ovzxnmznt Jucjceuntant
P. O. BOX ST. MAIN OFFICE.
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
Trust
Company of America
37-4* WALL
STREET, NEW
COLONIAL BRANCHi
222
YORK.
LONDON OFFICEi
Broadway, Now York.
95 Gresham St.
CAPITAL'AND SURPLUS $8,000,000
Invites accounts of individuals firms and cor|
Pays interest
Executes trusts
,
**. sj ; *
■
on
of
daily bafaittes;
every description.
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES, uANFS, RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA
TIONS.
TO BE FOUND IN ALL
LEADING CERTIFIED
PUBLIC ACCOUNTANTS’ OFFICES, v.
Sample Copy 16 cents Per Annum SI SO
^
OTTO JULIUS MERKEL
BROKER
M AND 4i WALL
STREET!. NEW YORK
INVESTMENT SECURITIES
Qonasoomioao* Invited.
983
THE CHRONICLE
1910.]
00*. i
Saak.—debenture #afe.—According to reports, the
$3,000^%*d&berittri*es offered on Aug, 31 and mentioned in
Elfros,
James of Regina.
Nay
V. 91, p. 544, were awarded to
&
Estevan, Sask.—Debenture Sale.—On
Sept. 27 the $10,000
Oxbow,
Sask.—Debenture Election.—A proposition to
debentures will be voted upon, it
issue $4,000 6% 30-year
is expected, on Nov. 2.
County, Ont.—Debenture Sale.
Rochester Township, Essex
cement-sidewalk debentures mentioned in V. 9l, p. 826,
awarded to Nay & James of Regina at 95.32 and accrued
interest. The bids re6eiVed'#ere as follows:
—We alfO advised that the hmount of 5% local-improvement
debentures recently awarded to G. A. Stimson & Co. of
Toronto (V. 91, p. 827) was $11,259 80 and not $11,239 80,
as at first reported.
Maturity part yearly for ten years.
Sask.—Debenture Sale.—An issue of $2,500
berta.—Debenture Sale.—An issue of $1,250 6% school de¬
bentures was recently awarded to H. O’Hara & Co. of Winni¬
5%
were
Nay & James, Regina.
H. O’Hara & Co., Toronto
Maturity part yearly for.20
Lake,
Foam
$9,5321J. Addison: Reid, Toronto
$9,400
9,475|C. H. Burgess 4b Co., Toronto. 9,370
$
1 ‘ H
? ** a
years.
6% debentures was recently awarded to Nay & James of
Regina, it is reported. * Maturity* part yearly for 10 years.
Galt, Out .—Debenture Sale.—The $26,000 5% 40-year
sewer and bridge debentures offered on Sept. 28, and described
in V. 91, p. 826, were purchased by the Ontario Securities
Corporation of Toronto, it is stated.
Debenture Offering.—Proposals will be received until 12 m.
Oct. 14 by A. M. Edwards, Chairman of Finance Committee,
for $66,000 4^% hytirb-electfic-power debentures.
Interest May 1 and Nov. 1 at the Town Treas¬
Merchants’ Bank of Canada In Galt. Maturity Nov. 1 1940.
Denomination $1,000.
urer’s office or
Glendale School District No. 2216
berta.—Debenture Sale.—On Aug. 24
(P. O. Glenbow), Al¬
the Bank of Ottawa~in
Sampson School District No. 2112 (P. O. Burdette), Al¬
at 101.508. Date Aug. 25 1910. v Interest annual
Maturity part yearly for 10 years.
$hellmouth, Man.—Debenture Offering.—Proposals will
be received until Nov. 1 by F. G. Richardson, SecretaryTreasurer (P. O. Asessippi), for $10,000 5% 20-year deben¬
peg
tures.
Springvale School District No. 219, Alta.—Debenture Sale.
—It is stated that the $2,300 6% debentures offered on
Aug. 15 (V. 91, p. 421) have been awarded to the Ontario
Securities Co., Ltd., of Toronto.
Maturity part yearly for
20 years.
Ste. Agathe des Monts, Que.—Debenture Sale.—An issue
6% school-building debentures of^9,TlOr^^^-psrhledMc-light and'water-works-im¬
debentures was awarded in September to the
being 101.545. Interest annually provement
Canada Investmenf Co.,
Ltd., at par. Denomination
yearly on Aug. 20 from 1911 to
Edmonton purchased $1,100
for $1,117—the price thus
in August.
Maturity part
1920 inclusive. f
Hanlan School District (P.
$1,000. Date Sept. 1 1910. Interest semi-annual.
Watrous, Sask.—Debenture Offering.—Proposals will be
O. Woodlands), Man.—Deben¬
received
until Oct. 22 for $10,000 5J^% debentures.
Ma¬
tures Defeated.—An election held Oct. 1 Resulted in a vote of
R. A. Buchanan is Secretary
14 “for" to 23 “against" a proposition to issue $7,500 de¬ turity part yearly for 20 years.
and Treasurer.
bentures.
District No. 42, Sask.—Debenture Sale.—
According *to‘ reports, the $4*000 6% coupon school-building
debentures offered on Sept. 20 and mentioned in V. 91, p. 671,
were awarded to Nay & JameS of Regina.
The debentures
are?payable in 20 annual installments.
Outlook, Sask .-^-Debentures Not to be Offered at Present.—
Wejare advised that the $25,000 water-works and $6,000
bonus debentures authorized last July (V. 91, p. 296) will
not be offered for sale “until the market shows some signs
Kinistino School
of
improvement."
Yorkton, Sask.—Debenture Offering.—Proposals will be
Nov. 15byT. F. Acheson, SecretaryTreasurer, for the following 5% debentures:
received until 6 p. m.
$35,000 electrlc-llght-plant debentures.
Maturity part yearly for 30 years.
30,000 debentures for completion of permanent hlgh-sohool.
Maturity
part yearly for 30 years.
20,000 sewers and sewage-disposal-works debenture*.
Maturity part
yearly for 30 years.
*. a
10,000 sewer-construction debentures.
Maturity part yearly for 30 years.
11,000 “Reimburse general account” debentures, f-Maturity part yearly
*
for 30 years.
34,000 concrete-sidewalk debentures.
Maturity part yearly
Interest on the above debentures Is payable annually.
for 20 years.
MISCELLANEOUS.
ACCOUNTANTS.
OFFICE OF THE
LYBRAND,
ROSS BROS A
MONTGOMERY
Accountants
(Pennsylvania)
C#rtifi3d Public
„
165 Broad was
PHILADELPHIA,
Land Title Bid.
PITTSBURGH,
Union Bank Bid.
CHICAGO, First National Bank Bid*
NEW YORK,
ATLANTIC MUTUAL INSURANCE COMPANY.
%
"
~
f'
*
■
i
'
.<
-V' '
'
•,#
Premiums
Premiums
on
on
$4,477,103 95
$3,791,557 05
Premiums marked off from 1st January, 1909. to 31st December, 1909.
v--
Interest received during the year
Rent less Taxes and Expenses
•
•
f\
* r-
«
*
...
estimated In 1908
previous years.
....
«
$322,046 46
145,679 82
,
Losses occurred, estimated and paid In 1909..
$829,378 19
1,149,459 56 $1,978,837 75
and
MINING COMPANIES
Investigations. Financial
Statements,
Periodical A adits and
-
>
$60,285 14
Returns of Premiums
Expenses. Including officers' salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
Estimated Losses and Losses Un-
United States & State of New York
1909
1350
Life
The United States
Insurance Col
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M. D.,
President
.-ft****
1
'
Finance Committee
CLARENCE H. KELSEY. Pres. TitleGu.&Tr.Oe
WM. H. PORTER, Pres. Chemloal National Bank
■D. TOWNSEND. Pros. Imp. 4k Traders Nat. Bk
or
Good men, whether experienced in life
not, may make direct contracts with
Insurant
this Com
limited territory If desired, and secun
for themselves. In addition to drat year’s oommls
slon. areaewal Interest Insuring an Income for tb<
Address the Company at lts Home Qffl*
future.
pany, for a
No. 277 Broadway. New
York City
WANTED
CHRONICLE
ISSUES
Feb. 13; April 3, 1909.
Jan. 29, 1910 ^
w'i
Jan. 16
and
4
^ 30;
MftlJ pay 20 cents a copy.
Commercial & Financial Chronicle
138 Front
*
StoekrOlty, Bank and other Ste„
8t., New York
Special deposits in Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall 4b WllllamSts.,
4b Exchange Place.$4,299,426 04
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
.....
"
1
ji wskA u .
d. Ji
-
- .
-2t *
Unpaid
Withheld
deemed.
Premiums
Certificates of
4,374,426 04
1,213.069 68
ing
for
Unpaid
...
Profits
$2,393,237 03
333.546 •#
3 *
263,463 35
120,563 42
22,353 43
Outstand¬
j
Real Estate Reserve Fund....
:?vvj**jp
7,404.830 00
370.000 03
239,948 04
633.405 13
311.260.125 76
Aggregating
$12,921,890 89
Aggregating
.
Return Premiums Unpaid
Certificates of Profits Ordered Re-
75.000 00
settled
Premiums on Unterminated Risks.
Certificates of Profits and Interest
$5,461,042 00
curltles
Other Real Estate 4b
claims due the com¬
pany
$356,913 94
LIABILITIES.
ASSETS.
Aorountlm
MISCELLANEOUS.
485,411 55
$1,493,423 23
London, England.
AUDITORS
FOR
FINANCIAL INSTTTr
TIONS. INDUSTRIAL AND
<
$467,726 28
$249,891 07
235.520 48
Less Salvages
Re-lnsuranoes
PUBLIC ACCOUNTANTS
New York, Chicago,Cincinnati,
•.
21st, 1910.
submit the following statement of its affairs
1909.
«
Marine Risks from 1st January. 1909, to 31st December, 1909
$3,759,391 25
Policies not marked ofl 1st January, 1909
717,712 70
Total Marine Premiums
and
CERTIFIED
•
The Trustees, in conformity with the Charter of the Company,
on the 31rt of December,
Losses paid during the year which were
JAMES PARK & CO
i; .
* v
New York. January
-is
«*•
*>
I
.***'*¥?•*
0
-----
.rv
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid to tin
holders thereof, or their legal representatives, on and after Tuesday the first of February next.
*
The outstanding certificates of the Issue of 1804 will be redeemed and paid to the holders thereof
ldr legal repreeentativeeren and after Tuesday the first- of Fcbraar y next, from which date al
MMA
Thu
nnuliuwt at
*!■"« of payment
---* canceled.
■Mt th«rMUI
tut produced
m* ♦*»»
» and
— — —’—1
Interest
thereon Will
will cease.
The certificates to be
the time
A dividend of Forty per cent Is declared on the net earned premiums
the Company for the yea;
of
ending 31st December, 1900, which are entitled to participate in dividend, for which, upon aonll
cation, certificates will be Issued-on and after Tuesday the third of May next:
*** * *
By order of the Board.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN,
GEORGE C. CLARK.
CLEVELAND H. DODGE.
CORNELIUS ELDERT,
RIOHARD H. EWART,
PHILIP A. S> FRANKLIN,
HERBERT L. GRIGGS,
<7Aft
*
^ 0, STANTON FLOYD-JONES, Secretary.
TRUSTEES.
CLEMENT A. GRISCOM.
ANSON W. HARD.
LEWIS OASS LBDYARD,
CHARLES D. LEVERICH,
LEANDER N. LOVELL,
GEORGE H* MAOY,CHARLES H. MARSHALL.
NICHOLAS F. PALMER.
HENRY PARISH,
ADOLF PAVENSTEDT.
A. A. RAVEN.
ifMSsSS:
wiSLwm^oanb.
CHARLES M. PRATT.
mm
9* A;’AT “RAVEN, President.
CORNELIUS ELDERT*
Vice-President.
E. COBB, 2d Vice-President.
Vice-President.
JOHN Hr JONES STEWART. 41ft Vice-President
984
THE CHRONICLE
[VoL
grust gompuntts.
I.XXXS1
Jgtttsl ffixmrpantes.
imtea states imsi Gompang or jiewfoii,
Chartered 18ft
45 and 47 WALL STBEBT
CAPITAL,
$2,000,000.00
$13,866,670.83
SURPLUS AND UNDIVIDED PROFITS
This Company acts as
Executor, Administrator, Guardian, Trustee, Court
ether recognised trust
Depositary and In
capacities.
It allows Interest at "mrent rates on
deposits.
It holds, manages and Invests
money, securities and other property, real or
personal, lor estates
seeperatlons and individuals..
1
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, Y.-Pres.
HENRY E. AHERN,
Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A.
EDWARDS, 2d Asst .Sec.
TRUSTEES.
JOHN A. STEWART. Chairman at the noara.
Gustav H. Schwab.
Lewis Cass Ledyard.
Frank Lyman,
Lyman J. Gage.
James Stillman.
Payne Whitney,
John Clafltn.
Edward W. Sheldon.
John J. Phelps,
Cbaunoey Keep
W. Bayard Cutting.
WHHam Rockefeller,
Alexander B. Orr
WHHam H. Mary Jr.,
WHHam D. Soane.
.
George L. Rives,
Arthur O. James,
William 11. Kingsley.
William Stewart Tod.
Ogden Mills
Egertnn L. Wlnthrop
Fidelity Trust Company
Manhattan
Trust
Company
Temporary Offices
113 BROADWAY
WALL STREET
CORNER NASSAU
NEWARK, N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts
as
Executor, Trustee, Administrator and
in all
Takas entire charge of Real and Personal Estates.
Rial Estate throughout New
Jersey.
General
fiduciary capacities.
Guarantees Titles of
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
Banking and Savings Departments.
Bond Department for
purchase and sale of municipal and public utility securities.
Safe Deposit
Department.
CENTRAL TRUST COMPANY
of NEW YORK
54
Wall Street
CAPITAL,
$2,000,000.00
Authorized to act as Executor, Trustee, Administrator or
Guardian.
Receives Deposits, subject to check, and allows Interest on
Daily Balances.
Acts
as
Transfer Agent, Registrar and Trustee under
Mortgages.
$4,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
ecutory
Administrator, Guard¬
in
all
Fiduciary
Capacities.
Certifies Muni¬
ian
and
cipal and Corporation Bonds.
Capital and Surplus, $18,000,000
(of which $ 1 7,000,000 has been earned)
SURPLUS,
S5 Cedar St.
B’way A 73rd St.
126th St. & 8th Ave.
Industrial Trust Company
Providence, R.
1.
CAPITAL
SURPLUS
S3.000.000
3,000,000
OFFICERS.
CHARTERED
1864
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner
38th Street/
With Modern Sale
Deposit Vaults
Capital $1,000,COO
Acts
Snrplns (earned) $7,737,000
ALLOWS INTEREST ON DEPOSITS.
as
Executor, Guardian, Trustee, Administrator and
In all
Fiduciary Cspadtiss
on behalf of
Individuals, Institutions or Corporations,
IllinoisTrust & Saving s Bank
CHICAGO
Capital and Surplus
$13,600,000
Pays Interest
Cyrus P. Brown, President
Arthur L. Kelley, Vice-President
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addeman, Vice President
Ward E. Smith, Treasurer
Chas. H. Manchester.
Secretary
H. Howard Peoper, Asst
Tress,
Frederick B. Wilcox.Auditor
BOARD OF DIRECTORS.
Samuel P. Colt
Herbert N Fenner
J. Milton Payne
Eben N. Littlefield
Otis Everett
C. Prescott Knight
Jesse H. Metcalf
John J. Watson Jr.
Charles H. Allen
John B. Branch
Ceorge F. Baker
William P. Chapin
ijporge M. Thornton
Angus McLeod
''yrus P. Brown
Ezra Dixon
Chas. C. Harrington
Howard O. Sturgis
Louis H. Comstock
Edward D. Pearce
Englehart C. Ostby
Olney T. Inman
William R. Dunee
Richard A. Robertson
losbua M. Addeman
lames M. Scott
William H. Perry
Arthur L. Keliey
H. Martin Brown
financial.
Adrian H. Muller & Son,
AUCTIONEERS.
Regular Weekly Sales
OF
on
Time Deposits, Current and Reserve
Accounts*
Deals in Investment Securities and
Foreign Exchange.
Transacts a General Trust Business.
CORRESPONDENCE
INVITED
STOCKS and BONDS
EVERY
WEDNESDAY
Office. No. SS WILLIAM STREET.
Corner Pine Street.
nwwwmmm
O0T. 8
191U.J
THE CHRONICLE
t
The NEW ENGLAND
TRUST COMPANY
Companies.
OLDCOLONY TRUST COMPANY
E05r0N, BASS.
BOSTON, MASS.
CAPITAL. U.000.000
SURPLUS. $2,000,000
Safe Deposit Vaults
Authorized to act as Executor, and to receive
hold money or property in trust or on deposit
am
Courts ofAssignees
Law or Guardians.
Equity Executors.
mlnlstratora.
Trustees.
Oarporatlons and Individuals.
'
AJao acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed
on Deposits Subject to Check
OFFICERS
DAVID R. WHITNEY, President
CHARLES F. CHOATE, Vloe-President
ALEXANDER COCHRANE. Vice-President
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER. Actuary
HENRY N. MARR, Secretary
FRED. W ALLEN. Asst. Sec. A Treas.
THOMAS E. EATON. Asst. Treas.
FRANCIS R. JEWETT. Trust Officer
CHAS. E. NOTT. Mgr. Safe Dep. Vita.
BOARD OF DIRECTORS
William Endloott, Chairman
Walter C. Baylles
James G. Freeman
Alfred Bowdltch
Morris Gray
8. Parker Bremer
James R. Hooper
Timothy E. Byrnes
Ernest Lovering
Charles F. Choate
Henry H. Proctor
Alexander Cochrane
James M. Prendergast
Dexter
Philip
Herbert M. Sean
William Endloott Jr.
Elands W. Fabyan
William Farnsworth
Frederick P. Fish
Lawrence M. Stockton
Nathaniel Thayer
Capital and Surplus
George Wlgglesworth
John S.
Hon.T.JeffersonCoolldge
T. Jefferson Coolldge Jr.
Charles E. Cottlng
AJvah Crocker
J.
Eckley B. Cove Jr..
Edwin 8. Dixon.
Eugene L. Ellison.
Joseph C. Fraley.
Harry C Francis.
Henry L. Gaw Jr.,
Levering Jones.
Malcolm Lloyd.
John Mcllhenny,
Richard Wain Mein.
Clement B. Newbold.
John W. Pepper.
William F. Read.
Adam A. Stull.
Edward D. Toland,
Joseph R. Wainwrlght.
Howard 8. Graham.
William D. Wlnsor.
Samuel F. Houston.
Galen L. Stone
Nathaniel Thayer
Lucius Tuttle H. O. Underwood
EUot Wadsworth
Henry Parkman
Henry S. Howe
Andrew W. Preston
Walter Hunnewell
Richard S. Russell
Charles W. Whittier
Stephen M. Weld
Sidney W. Wlnsloi
PRESIDENT. PHILIP STOCKTON.
B. DONHAM
Treasurer. FREDERIC G. POUSLAND
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Secretary. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
Authorized Reserve Agent for Trust Companies in Maine, Massachusetts and Rhode
Island!
Girard Trust
Company. Mississippi Valley
Trust Co.
Sts., St. Louis.
Vnnrth &
A Pine
Pina
Fourth
e
*
Capital and Surplus, $10,000,000
as
Executor, Administrator. Trustee.
Assignee and Receiver.
Financial Agent for Individuals or
fttjs
CAPITAL, SURPLUS
CHARTERED 1835.
and PROFITS
St.
\*Q
T.nnia
KAt\ Aftfl
A GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
Corporations.
Interest Allowed
on Individual and
Corporation Accounts.
Trustee of Corporation Mortgages.
Depositary under Plans of Reorganization,
Registrar and Transfer Agent.
Assumes entire charge of Real Estate,
Safes to Rent in Burglar-Proof Vaults.
Acts
31,000.00*
Henry G. Brengle.
Edwin Farnham Greene
Robert F. Herrick
Manager Credit Dept., ELMER E. FOYE.
503-505-507 Chestnut St.. Philadelphia
James Crosby Brown.
John Cadwalader,
E. W. Clark Jr.,
Laurence Minot
Maxwell Norman
Hon. Richard Olney
Robert T. Paine 2nd
Reginald Foster
George P. Gardner
Vice-Presidents. WALLACE
Acts
DIRECTORS.
Frederick P. Fish
B. P. Cheney
Whitney
HENRY G. BRENGLE. President.
JOS. S. CLARK. Vice-President.
OHAS. P. LINEAWEAVER. Sec. A Treas.
ADAM A. STULL. Chairman of Board.
Bartlett
Samuel Carr
The Trust Company
of North America
CAPITAL
$12,500,1
DIRECTORS.
T. JEFFERSON COOLIDGE JR.. Chairman Executive Committee.
GORDON ABBOTT. Chairman of Board.
FRANCIS R. HART. Vice-Chairman.
*
Charles F. Adams 2nd
Philip Y. DeNormandle
Henry C. Jackson
Philip L. SaltonstaU
F. Lothrop Ames
Philip Dexter
George E. Keith
Herbert M. Sean
Oliver Ames
Gardlne
ler M. Lan*
George A. Draper
Quincy A. Shaw
C. W. Amory
Frederic C. Dumaine
Col. Thos. L. Livermore Howard Stockton
William Amory
William Endlcott Jr.
Arthur Lyman
Philip Stockton
Charles F. Ayer
WUmot R. Evans
Charles S. Mellen
Charles A. Stone
Eugene V. R. Thayer
David R.
XT
as
E. B. MORRIS. President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON. 2d Vice-President.
C. J. RHOADS. 3d Vlce-Pres. and Treasurer.
E. S. PAGE, Secretary.
MANAGERS:
Effingham B. Morris,
Edward J. Berwlnd.
John A.
John B.
William
Francis
Geo. H.
Brown Jr..
Randal Morgan,
Edw. T. Stotesburv,
Charles E. Ingersoll,
John S. Jenks Jr.,
Garrett,
H. Gaw,
I. Go wen.
McFadden,
Henry Tatnall.
Isaac H. Clothier,
Thos. DeWItt Cuyler,
C. Hartman Kuhn,
Henry B. Coxe.
Edgar C. Felton,
William T Elliott.
W. Hinckle Smith,
B. Dawson Coleman.
James Speyer,
Broad and Chestnut Streets,
PHILADELPHIA
Rhode Island Hospital
Trust Company
DIRECTORS.
John 1. Beggs. President Milwaukee Light Heat *
Traction Co.
Wilbur F. Boyle. Boyle & Priest.
James E. Brock. Secretary.
Murray Carle ton. President Carleton Dry Goods da.
Charles Clark.
Hora tio N Da vis, President Smith* Davis Mfg.Ot.
John D Davis, vice-President.
David R. Francis, Francis. Bro. & Co.
S. E. Hoffman. Vloe-President.
Breckinridge Jones, President.
Wm. G. Lackey, Vice-President and Bond Offloei
W. J. McBride, V.-Pres. Haskell * Barker Car Oa
Nelson W. McLeod. Vice-President
GrayzonMcLeod Lumber Co.
Saunders
Norvell,
Hardware Co.
President
Norvell-Shaplelgfe
Robert J. O’Reilly. M. D.
Wm. D. Orthwein, President Wm. D. Orthweln
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H.C Pierce, Chairman Board Waters-PleroeOUOa.
August Schlafly. August Schlafly * Sons,
R. rl. Stockton. President Majestic Mfg. Co.
Julius S. Walsh. Chairman of the Board.
Rolta Wells.
©ott cm.
PROVIDENCE, R. I.
CAPITAL
SURPLUS
Royal C. Taft,
$2,000,000
$2,000,000
DIRECTORS.
Howard O. St urges,
Robert H I. Goddard.
Robert I. Gammell,
William B. Weeden,
Edward D. Pearce,
Robert Knight.
John W. Danielson.
Herbert J. Wells.,
t
Lyman B. Goff.
Rowland G. Hazard.
Nelson W. Aldrich,
Samuel R. Dorrance.
L. F. DOMMERICH & CO.
Step!
StephenO.
Metcalf,
Waiter R. Callender.
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jaoksos
John R. Freeman,
Charles S. Mellon.
Robert W. Taft,
Webster Knight.
NEW YORK
General Offices, 57 Greene Street
Stephen O. Edwards.
Frank W. Matteson.
R. H. Ives Goddard Jr.
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
HERBERT J. WELLS. President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
DISCOUNT AND GUARANTEE SALES
WILLIAM A. GAMWELL.
Secretary.
PRESTON H. GARDNER, Trust Office)
CYRUS E. LAPHAM. Asst. Sec’y.
JOHN E. WILLIAMS, Asst.
Seo'y.
HENRY L. SLADER, Asst.
Sec’y.
G. A. HARRINGTON. Asst.Tr.Offie*
CARRY NO
GOODS
CENTRAL
TRUST COMPANY R. H. ROUNTREE & CO,
Commission Merchants.
OF ILLINOIS
COTTON, GRAIN, PROVISIONS and COFFEE
CHICAGO
Capital and Surplus
COTTON
$2,500,000
-
CHARLES O. DAWES. President.
A. UHRLAUB, Vice-President.
EDWIN F. MACK. Vice-President.
WILLIAM T. ABBOTT. Vice-President.
WILLIAM R. DAWES. Cashier. ,
L. D. SKINNER. Asst. Cashier.
WILLIAM W. GATES. Asst. Cashier.
JOHN W. THOMAS. Asst. Cashier.
ALBERT G. MANG, Secretary.,
MALCOLM McDOWELL. Asst. Secretary.
WILLIAM G. EDENS, Asst.
Tecretary.
JOHN L. LEHNHARD, Ass' Trust Officer.
.
BASKING, SAVnFa* AND TRUST
DEPARTMENTS
EXCHANGE BUILDING.
NEW YORK.
GWATHMEY A CO.
COTTON MERCHANTS
22
Exchange Place,
-
•
FOR
OWN ACCOUNT
Geo. H. MPFadden &
COTTON MERCHANTS
PHILADELPHIA.
Bro.,
NEW YORK.
Jverpool Correspondents*
FREDERIC ZEREGA A CO.
Bremen Correspondents:
MCFADDEN BROTHERS * CO.
lavre
Correspondents:
*OOIETE D’IMPORTATION ET DE COMMIS'N
NEW YORK
ROBERT MOORE A CO.
55 Beaver Street. New York.
ORDERS FOR FUTURE DELIVERY EXEJUTED IN NEW YORK AND LIVERPOOL
iXCHANGES.
OOTTON PURCHASED FOR SPINNERS* USB
Mason Smith & Go.,
OTTON COMMISSION MERCHANTS
'EW
ORLEANS LA.
1E*IPHI%Thin.
Sayers of Spot Cotton.
DALLAS TEX
Order* tor Contracts Bxe
New Orleans, New York,
Liverpool and Havre Markets.
cuted
In
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16 to 22 WI LLIAM STREET,
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BANKERSj
NEW YORK
AMERICAN COTTON OF ALL GRADES SUITABLE TO WANTS OF SPINNERS.
■
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Established 1876
COrpfERCHANTS
:. .-'■.
.•
w4.:
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Negotiate and Issue Loans tor Rail¬
Corporations.
roads and Established
and
sell
Investment.
Buy
K
Bonds
suitable
tor
Established In 1856.
Heniy Hentz & Co.
206 LA SALLE
ST, CHICAGO
16 to 22 William Street, New York.
,
Execute Order# for Future Delivery
'*$. Iff ■)!****$&■
QQ p-pQj^ * ’ '? f . *>"•■'*^ t /
At the New York, Liverpool and New Orleans
Cotton Exchanges. Also orders (or
‘
COFFEE ■ /l-t^
' "■
At the New York Coffee Exchange
GRAIN AND PROVISIONS
’ ';#kt
‘
-
List
on
Application
,
at the Chicago Board of Trade and
CHICAGO CITY MORTGAGES.
HIGH-GRADE.yti'.'l
INDUSTRIAL
BONDS.
Vs***4.-!
"i
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
s
> v
Fiscal Agent for Cities and Cjorporatlone
COMMISSION MERCHANTS
Hubbard Pros. & Co.
COFFEE
*:■„
i
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-
*.
-
CU CAGO RUL ESTATE BONDS.
CORPORATION i RAILROAD BONDS.
EXCHANGE BUILDING
SEND FOR
HANOVER SQUARE.
.HEW YORK
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
CIIKULARS.
PEABODY, UOUGUTELING A CO.
■
:
COTTON MERCHANTS
Liberal Advances Made
on
\-f
,
1
•
.
181 it Salle Street,
Cotton
F. H. PRINCE &
GHlCAGp.
Consignments.
[Established 1865J
BANKERS
Hopkins, Dwight & Co.
BOSTON, MASS.
COTTON
GEO. H. BURR & CO.
and
COTTON-SEED OIL.
BANKERS
COMMISSION MERCHANTS
Room 52 Cotton Exchange Building.
*
NEW YORK.
i
43
LEHMAN BROS.
Nos. 15-22 William Street. New
Exchange Place
Chicago
-
i, Boston
New York
tlemhenof New YorkandBo
on
Stock Exchange
St. Louis
Philadelphia
Kansas City
San Francisco
York.
Member* of the Stock, Cotton, Cojjee
and Produce Exchange*, New York.
"‘V,
INVESTMENTS
Commercial Paper
ASHMAN, STERN A CO.. Limited. New Orleans.
;
HIGH-GRADE
Orders executed on the above Exchanges, as well In
New Orleans, Chicago and foreign markets.
Sullivan Brothers
——
Stephen M. Weld & Co.,
COTTON MERCHANTS,
82-92 Beaver Street, - New York City
First National
Bank Bldg.
‘ROND^
JXJ1N1A3
Chicago
m
Liverpool, WELD A CO.
Bremen, ALBRECHT. WELD & CO.
Co.
—r
Broadway
j
;
■■■' i
.
427
CHESTNUT STREET
PHILADELPHIA, PA.
New York
BOSTON. PHILADELPHIA. PROVIDENCE
y
&
Municipal and Corporation
Members
Chas. S. Kidder & Co.
|Ncw York “ &*cb*age
\Philadelphia 8t°^k
; r ;M'
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Siegfr. Gruner & Co.
MUNIQPAL & COR¬
PORATION BONDS
COTTON MERCHANTS
17 South William
182 LA SALLX
Street,
STBEET,
.
*
Dmn, Tremble & Co.
successor* to
GEO COPELAND & CO..
’
i
COTTON BROKERS,
At Cotton Exchange.
New York.
Orders (or future delivery contracts executed on
Abe New York and Liverpool Cotton Exchanges.
>-v
**■?* *.
•
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FIRST NATIONAL BANK BLDG.,
“
PHI LA. NATIONAL BANK BLDG.,
PHILADELPHIA
HOLLISTER, FISH & CO.
BANKERS
•
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y
Nassau A Pina
H. T. HOLTZ & CO.
MUNICIPAL AND
gitrattjcial.
FIRST NATIONAL BANK
-
3.15 BROADWAY
Stock Exchange.
*■'
'■
*
'Vi
y
i‘V
•
Correspondence
Invited
■«**”*'*
si
DICK BROTHERS 4 CO.
AANKeftS AND BROKERS.
*
•
^
,
United Bank Note Corporation Stock*
$2,000,000
JOHN B, PURCELL, president
JOHN If. MILLER JR.. V.-Prest. a Cashier
FREDERICK E. N0LTING. 2d Vloe-Piest
Straata, N. Y.
CORPORATION BONDS
K
RICHMOND, VIRGINIA
Capital and Earned Surplus,
Exchange
Investment Securities
Members New York
^
> Y‘-Tf
Members New York Stock
DominicH & DominicK
EXE-
preceding oage.)
Naw Yark
-
MEMBERS OF
NEW YORK STOCK EXCHANGE.
-r** A
NEW YORK
MARKETS.
on
Broadway,
•
y
Cotton Brokers,
IN NEW ORLEANS,
°S8 TED
AND LIVERPOOL
•>.
CHICAGO
SMITH A HAYNE
COTTON EXCH *NQE BUILDING.
NEW ORLEANS, LA.
ERSfFOR FUTURE" DELIVERY
•
BOWS FOR INVESTMENT
Frank B. Hayne (in Comraendum)
■*”
(Other"cotton cards
BANKERS AND BROKERS
71
WILLIAM RAY & CO.
«*
W. T. HATCH 6b
OHIOAOO
NEW YORK.
i
[Established 18624
171 LA
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BALLS SnUUET, OHIOAOO,
if.tf
ft ;|f>T 1 5T'S*
SO BraaoSt..'
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N,« York.
Uembm Ut N: T. and PhUs. 3tod: Eubraon.
New-York. Nev Orleans and Liverpool Gotten
{
Exchanges.
-Yorlr Coffee fanhangi
and Crneago Board of Trade.
Correspondence Invited^
Vm&H
■■■■■*%
@FedFRASER