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firranrtal
TV
untmarn
VOL. 91
OCTOBER 8 1910
NO. 2363
Published every Saturday by WILLIAM B. DANA COMPANY, Front, Pine and
Depeyster Sts., N. Y. C. William B. Dana, Prest.; Jacob Seibert Jr., Vlce-Prest.
and Sec.; Arnold O. Dana, Treas. Addresses ol all. Office of the Company.
CLEARINGS— PON SEPTEMBER, SINCE JANUARY 1, AND FOR WEEK ENDING OCT. 1
Clearings at—
■
Buffalo......................
Albany.....................
Washington_______
Syracuse................
York ........................
Erie .........................
Greensburg...............
Binghamton.............
Chester............. .......
Franklin..................
Frederick..................
Total Middle.........
Boston ....................
Providence ...............
Hartford..................
New Haven...............
Portland__________
Springfield...............
Worcester.................
Fall Klver.................
New Bedford.............
Lowell......................
Holyoke......... ........
Total New England
Cleveland_________
Columbus................
Toledo_____ ______
Peoria ......................
Grand Ilaplds...........
Dayton........... ........
Evansville ...............
Kalamazoo...............
Springfield, III.........
Youngstown.............
Fort Wayne.............
Akron......................
Rockford .................
Lexington____ ____
Quincy____________
Bloomington.............
Canton.... .................
Springfield, Ohio___
South Bend...............
Decatur ..................
Mansfield..................
Jackson....................
Jacksonville, III.......
Danville___________
Adrian ....................
Lima......... .............
Saginaw...................
Lansing................
Total Mid. Western
San Francisco...........
Los Angeles........... .
Seattle ....................
Portland..................
Spokane ..............
Salt Lake City.........
Tacoma....................
Oakland..................
Helena....................
Sacramento.............
San Diego................
Stockton .................
San Jose..................
North Yakima
Billings...........
Boise ________
Medford..................
Total Paclflc.........
Kansas C ity ..........
Minneapolis..............
Omaha......................
St. Paul....................
Denver......................
St. Joseph_________
Dca Moines...............
Sioux C ltv ..............
Wichita . ..................
Duluth*....................
Lincoln....................
Topeka ....................
Davenport................
Cedar Rapids...........
Fargo ......................
Sioux Falls...............
Colorado Springs___
Pueblo »_____ _____
Fremont..................
Aberdeen..................
’ Total other West..
Total Southern.........
> Total all................
Outside New York..
Ll.
Week ending October I.
Inc. or
Dec.
Inc. or
1909.
1910.
Dec.
1909.
1908.
1907.
1910.
S
$
$
$
$
$
%
S
$
%
6 231,014,946 8,478,376,947
26.5 73 531 302,065 74.566.081,317 — 1.4 1,596,471,530 2,260,843,361 -29.4 1,544,702,431 1,784,947,442
135.503.867 153.247,066 -11.6 121,716,264 151,121,418
S70.039.54l
600.177.120 —5.0 5,733,204,274 4.994,624,218 -14.8
14.4
50,999,910
50,090,942 + 1.8
37,697,847
55,954.458
204.721,882
195,852.323 + 4.5 1,936,320,471 1,693,327,383
30,241,817
28,763,467 + 5 1
33.038,524
24,772,537
128.041.600
110,178,406 + 16.2 1,164,637,621 1.048,222,583 - *}1.1
339.653,950 - -10.0
9,052.683
10,186,011 -11.1
373,653,242
8,824,181
9,749,699
39,893,681 —3.0
38.711.725
211,017,461 +5.9
6,164,885
6,823.577 —9.7
6,230,156
223.551.437
6,191,707
26,264,808 —1 6
25,852.617
242,380,218 + 10.8
6,213,936
6.318,544 — 1.7
5,377,204
6,693,943
268.555.295
25.695,849
25,620,696 +0.3
3,595,352
146,401,339
+7.0
4,400,24'J
-18.3
—4
3
4,168,486
4,542,370
15,675,070
156.673.595
14.997,383
+
9.2
2.494,195
93,912,639
2,600,000 —4.1
2,523,924
3,444,341
102,511,228
9,819,712 + 7.0
10,507,237
78,134,799 + 17.1
2,100,457
2,186,721 —3.9
2,072,848
2,527,824
8,848,692 —1.6
91,508,154
8,702,896
1,368,040
55.546,661 + 8.9
1,818,889 -24.8
1,468,178
6,250,041 —4.7
60.477.925
1,645,647
5,956,900
51.227,725 + 15.3
1,545,127
1,651,053 —6.4
1,309.371
1,521,849
5,583,674 + 9 9
59,085,173
6,135,232
1,246,024
1,250,894 —0.4
47.598,822 + 11.6
1,193,301
1,234,068
5,529,978 +0.3
53,122,288
5,545,206
1,619,557
1,711,937 —5.4
60,913.615 + 11.0
1,346,727
6.705,032 —1.7
974,452
67.587,153
6,592,503
1,350,000
1,336,276 + 1.0
56.675,418 + 4.5
1.340.673
5,796,027 +3.2
5,979,705
59,208,088
1,345,409
1,444,546 —0.9
46.897,093 +3.8
1,090,689
5,603.320 —1 7
1,170,217
5,564,171
48.695,219
816,155
892,539 —8.6
752,958
948,241
3,738,265 —2.0
3.640,708
36,487,070 .if ■ 32,370,509 + 12.4
26,583,094 + 22.0
817,721
764,388 + 7.0
602.371
712,443
3.368,074
3,184,285 + 5.8
32,425,078
590,000
542,405 + 8.8
530,000
20.514,245 + 6.1
883.227
2,599,370
2,314,397 + 12.3
21.758,659
445,900
17.654,300 +3.0
407.500
400.800 + 1.7
004,100
2.127,990
2,355,900 —9.7
18,288,243
479.464
18,328,522 + 18.2
565,385
+ 18.2
525,635
610,388
21,069,424
2,104,023
1,948.271 - -11 1
15,048,946 + 14.9
433,830 + 9.2
473,750
424,107
2,062,501
1,809 719 .
10,005,038 —2.2
275,000
278,273
270,000 + 0.7
272,000
1i047i976
9|785:64f
1,044,522 +0.3
_________
...... ........ .
9,039,259 + 1.1
1,090.667
1,012,641 + 2.2
9.732,875
7,312.166.762 9,563,704.187 -23.5 84,097,529.462 83,882,819,062 +0.3 1,855,255,300 2,538,456,958 -26.9 1,772,390,845 2,068,844,681
139,328,979 164,972,116 -15.5 151,657,693 163,712,385
574,187,293
623,683,540 —7.9 6,110,160,644 6.136,079,990 —0.4
7,881,200
273,288,100 + 8.1
8,052,100
8,631.800 —8,7
6,839,900
27.315,200 + 4.8
295,450,300
28,616,700
136,571,859 + 20.0
3,851,947
3,612,225
4,042,238 -10.6
3,377,058
13.725.201 +7.0
163,808,013
14,686.681
2,732,254 -16.1
101,763,726 +4.5
2,867,807
8,621,204 + 14.1
2.460,896
106,394,564
2,293,565
9,834,669
2,017.674
2,985,425
65.878,876 + 13.0
2,363,504
2.154,473 + 9.7
8,041,044 + 4.2
74.469.534
8,381,292
2,055,000
1,900,000 + 2.3
1,712,960
8.255.973 —2.0
78,377,218 + 8.7
1,943,725
85,161,724
8.087.771
6,997,100 +32.7
2,039,352 —0.7
1,565,202
1,713,198
62,770,716 +38.4
2,024,692
86,811,347
9,287,978
1,038,981
1,054,109 —4.5
897,972
4,015,610 +5.3
42,497,941 —2.0
1,008,052
4,229,672
14,638,187
874,011
4,559,631 -22.1
809,594
1,093,070 -25.9
762,130
40,478,633
35,294.377 + 14.7
3.591,355
1,915,618 + 1.5
465,611
418,723 + 11.2
459,702
538,297
17.980,042 + 4.1
1,945,109
18,718,379
525.376 + 4.3
2,212,547 + 4.2
474,164
575,611
547.787
21,455,072
19,349,547 + 10.9
2,305.327
102,278,934 189,563,011 -14.4 172,825,351 188,264,762
709,342.674 —6.2 7.044,546,397 6,969,802,392 + 1.1
605,153,847
—4.4
+
2.0
265,290,995
280.252,550
—5.4 232,801,845 263,067,699
10,429.865.755 10,180,450,484
1.080.841,543 1.130,347,328
24,651,700 —5.4
928,755,050
998,790,200 —7.0
100,371,150 — 1.8
23,322,250
22,435,250
26,569,250
98.607.950
16,089,173 + 2.3
745.802,822
629,815,450 - -18.4
16,458.149
73.498,736 +3.4
14,896,001
19,288,558
76,006.526
13,725,966 + 16.3
557.180.564 - -24.2
15.960,796
61,809,454 + 20.6
692,053,192
12,323.436
14,159,300
74,502,566
-10.4
14,500,000
+
13.4
481,313,345
12,792,627
+
9.4
435,983,668
11,782,642
13,297,132
47,683,275
52,150,843
307,232,762 - -14.4
8,015,506
7,762,743 + 3.3
33,227,698 +31.3
351,511,209
7,484,412
8,272,016
37,660.082
6,000,000
6,300,900, —4.8
223,728,100 +3.0
5,666,000
5,682,080
230,525,200
24.754,500
23,240,200
3.532,865
153,267,433 + 7.7
3,759,717 —6.0
3,021,255
4,142,960
165,040,467
16,271,376 + 1.3
16,485,925
+
8.4
3,120,192
2,920,651
+6.8
105,762,028
3,390,793
2,401,938
114,687,548
12,059,218 + 8.2
13,048,026
2,505,392
89.704,944 -14.1
2,411,450 +3.9
2,086,561
2,549,655
102,362,558
10,190,811 + 12.5
11,460,291
1,867,999
72,420,843 -17.0
1,696,427 + 10.1
1,985,229
1,547,307
84,744,897
8,246,341 +3.1
8,502,561
2,085,420
75,897,321
11.1
—6.5
2,230,968
1.824,715
2,191,568
84,396,749
8,588,319
—
1.8
.8,434,675
-13.2
1,318,570
45,955,080
1,107,938 + 19.0
835,972
1,361,698
52,028,3^6
5,294,298 +3.5
5,480,520
800,000
38.418,847 + 2.9
832,729 —3.9
826,276
856,757
39,520,540
4,273,433 —5.6
4,036,229
1,621,545
949,940 +70.7
877,306
34,466,187 -23.8
587,840
42,666,973
5.799,484
4,960,425 + 16.9
-11.3
1,009,992
866,172
784,544
839,374
35,253,717
+
16.6
+
8
3
39,239,329
3,891,385
4,213,703
27,830,390 -31.8
813,000
785,000 +3.6
620,000
700,000
36,686,800
3,750,000
3,236,300 - 15 9
733,818
623,505 -17.7
544,798
25,612,230 -19.8
492.179
3.170.670
2,677,817 -18 4
30,680,751
748,306
616,402 -21.4
565,500
688,829
25,015,891 -20.1
3,002,074
2,632.157 -14.1
31,546,146
583,382
666,902
21,172,314
-16.6
-14.3
•
527,675
503,893
2,282,090 -17.9
2,690,286
24,687.351
462,809 -16.9
540,927
427,825
535,213
20,059,945 -21,5
2,493,685
2,169,318 -14 9
24.373.345
917,585
600,000 -52.9
450,000
630,000
4,078,316
27,667,146 -36.9
2,979,428 -36 9
37,864,035
496,290
435,248 -14.0
425,000
20,800,209
19,110,156 + 8.8
427,835
2,200,837
2,097,399 + 4.9
517,652 —8.1
475,770
625.482
17,972.049 + 13.0
2,048,513 + 6 0
431,215
2,183,227
20,307.173
420,171
454.371
—7.5
479,198
1,926,746 +3.0
336,089
16,561,078 + 14.1
1,996,715
18,894.887
310.992 + 24.7
387,736
350,915
265,571
13,723,524 + 14.8
1,846,201
1,613,647 + 14.4
15,755,914
400,000
360,000 + 11.1
356,789
228,385
1,425,085 + 16.1
13,190,955 + 26.0
16,620,530
1,654,097
249,713 + 27.0
317,232
282,196
287,314
1.268,456 —0.4
11,141,038 + 8.0
12,030,803
1.262.783
+
10.3
400,000
362,485
+
10.1
17.777,3S0
290,077
14,094,908 -20.1
1,647,868
1.496,235
IS
210,000
220,000
166,114
607,783 + 4.0
207,936
7,049,840
6,250,447 -12.8
035 892
20,562 +35.7
27.596
20,600
25,000
95,281 + 38.8
1,375,913
1,041,454 -32.1
132,293
313,344
261,159 + 19.9
285,000
379,000
1,453,454 + 2.6
13,015,647
11,571,906 -12.5
1,491,833
+
0.8
2,100,874
521,000
515,474
22,940,915
20,103,266 -14.1
2,250,844
+ 1.1
391,860 Not Included in total
4,736,405 Not Included In total.
1,564,455 Not Included In total
1,557,018,745 1,577,584,330 —1.3 14,936,923,219 14,270,536,331 + 4.6 375,809,048 385,720,405 —2.6 327,472,285 374,967,242
171,179,037 + 13.2 1,707,922,212 1,419,134,659 + 20.3
193,745,829
44,242.876
43.157,552 + 2.5
47,480,099
39,609,886
50,568,518 + 22.0
489.966,950 + 21.5
595,133,136
13,353,903
10,894,490
01,735,023
12,288,491 + 8 7
9,039,793
415,882,099 + 7.4
446,792,799
54,901,412 -13.1
11,772,517
11,854,141 —0.7
11,227,235
47.72.8,037
8,992,802
274,274.479 - -38.1
9,300,000
378,897.021
44,089,574
34,367,068 +28.3
7,800,000 + 19.2
7,853,693
7.050,000
141,003,072 - -25.9
4,447,681
4,655,621 —4.5
3,994,314
178,345,660
20,342,048
19,070,285 + 6.7
3,500,000
5,511,393
241,028,530 —1.4
24,446,160
237,630,659
5,722,116 —3.7
5,740,733
25,613,358 —4.6
4,698,835
5,801,444
202,490,559 + 5.5
6,261,688 —7.3
25,408,397
213,653,457
5,031,979
5.059.576
26,901,788 —5.5
3,337,549
70,921,162 +61.6
1,799,837 +85.5
2,991,756
12,981,340
8,052,004 + 61.2
114,609,355
1,672.385
33,754,464 + 0.7
813,513
33,993,190
813,513 + 23.9
3,936,286
1,221,118
3,625,819 + 8.0
715,615
1,280,396
38,143,364 -28 1
1,033,740 + 23.9
48,804,636
838,553
6,251,176
4,804,177 4-30.1
1,100,000
790,000
39,067,994
-28.7
+39.2
4-30.3
50,265,860
700,000
5,569,777
4,273,556
4-1.V2
4-9A
7
712,200
a (ioo ns ‘ 2 804 ftfifi
617,995
26 610 848
19,278,438 -37.5
562.740
548,924 + 2.5
19,677,455 -16.3
550,000
22;885',240
2;0O8,833 + 5,8
2,760,497
496,447
655.000
510,000 + 28.4
17,378,439 -16.7
720,074
20,274,041
2,291,189 - -31.5
560.654
3,013,187
400,000
352,430 4-13.ft
1 951 053
1,733,202 - -12fi
17 419 410
236,711
13,599,811 -28.1
—31.8
116,027
241,560
-52.0
6’597i172
’559,525
820,329
7,1031848 —7.1
161,068
550,000
45(1,927 + 22.0
30 695[414
2,542,001
2,400.000 + 5.9
6,843,476
25,754.041 + 22.2
3,362,947
2,996.578 + 12.2
31.479,804
_________
900,179 Not Included In total
900,179 Not Inc uded In total
410,671,818 + 10.8 4,131,274,512 3,469,059,364 + 19.1
104,062,843
98,893,535 + 5.2 , 83,916,753 . 97,683,088
401,481,874
205,109,354 + 8,2 1,924,840,092 1,701,666,025 -13 1
39.030,162
52,502,362
49,126,783 + 6.9
40,647,681
223,925,660
97,391,069 - -17.4
25,794,525
28,473,756 —9.4
28,764,590
32,201,160
114,310,029
658,009,152 -22.7
807,663,637
15,936,318 —0.6
61,609,773 - -14.0
12,310,620
12,383,528
70,592,353
15,834,157
538,704,852 -10 3
626,613,128
47,874,908 —7.1
11,710,453 —7.5
10,752,069
44,487,570
10,830,813
10,870,447
356.943,134 -10.9
417,262.844
36,419,205 + 16.5
42.418,453
9,548,956 -11.6
9,437,447
8,609,047
9,099,881
334,847,746 + 8.0
361,644,183
25,077,251 +3.8
5.717,617 + 2.7
26,034,038
5,869,784
• 5,099,916
5,36(7*711
262,493,391
225.641,710 + 16.3
16,228,301 —6.6
3,816,349 —9.3
15,161,399
3,461,071
3,145,4)65
3,562,240
136,392,552 + 15.2
156,167,100
12,010,983 + 2.9
3,091,470 -13.0 - 2,603,044
12,361,871
2,690,6,81
101,171.372 + 12.8
2,772.139
114,124,492
11,526,868 + 21.9
2,866,541
+
9.8
14.034,831
3,146,430
1,281,885
1,303,305
91,559,970 4-26.4
115,669,236
24,631,793 -20 0
4,949,474
6,685,243 -26.0
19.702,645
70,512,402
133.115,589
5,897.909 +9.1
1,432,250 —0.8
1,420,840
0.432,029
1.468,926
1,280,713
61,136,723
55,601,270 + 10.0
1,184,799 ■+•1.7
5,788,587 —9.0
5,265,304
1.204,768
1,017,004
961.382
49,801,841
51,532,898 —3.4
5,317,583 +9.0
1,247.234
1,485.745 -16.0
5.796,857
48.238.419 -21.2
1,585,699
58,400,894
1,482.593
4,336,530
1,075,000
1,027.949 +'4.6
+3.0
4.491,114
729,134
39,614,174 -22.7
838,395
48,612,677
3,274,810 —0.5
875,000
,763,264 + 14.6
3,259,490
25,687,563 -20 4
547,318
509,588
32,455,677
3,141,836 +41.8
980,000
■714,800 , +37.3
4,455,643
35,640,284
700,000
725,000
23,944,267 -48 9
2,877,570 —1.5
685,p00
690,000
+
5
0
2.834,325
.
—0.7
26,811,230
700.000
742,503
28,148.108
2,513,282
566,237
— 1.0
639,549 -11.5
428,498
21,071,328 + 7.1
2,489,565
488,321
22,569,399
1,470,610 -12.0
. 258,880
367,689 -29.6
371,416
385,306
1,285,871
13,408,418 + 4.6
14,023.511
Not Included
In total
885,719
6,291,798
Not
Included
Not Included In total
total
in
total
Not Included In
142,829,103 145,278.731 —1.7 120,602,907 124,157,339
547.867.149 + 9.4 5,137.329.277 4,450,845,828 + 15.4
599.635j.602
720,899.022
+
5.4
7,058.754.690 8,263;517,488 + 12.7 185,610,097 191,486,329 —3.1 150.753,458 173,569,689
760,210.790
11,361,667,020 13,542,069,782 -16.1 122,406.351,563 119,312,580,465 + 2.6 2.825.846,525 3,518.399.469 -19.7 2,627,961,599 3,027.480.801
6,130.052.074 5,063,692,833 + 1.3 48.875.055.498 44,740,499,148 +9.2 1,229.374.995 1.288.556.109 —4.6 1,083,259,165 1,242,539,359
1910.
Philadelphia_______
Nine Months.
September.
1909.
Inc. or
Dec.
Table’ Clcarlngs]by Telegraph and Canadian Clearings on Page 919.
* N ot Included In total for month and nine months; comparison Incomplete.
THE CHRONICLE
906
THE BANKERS’ CONVENTION AT
LOS ANGELES.
Following our usual custom, wc shall report the
proceedings of this week’s annual convention of the
American Bankers’ Association in a special number,
termed our "Bankers’ Convention Section,” to be
issued next week.
This Supplement will have added
interest by reason of the fact that it will contain
special articles bearing on the banking development
of the two Pacific Coast cities.
One of these articles is
an “ Historical Summary of Los Angeles and Los
Angeles Banks,”
and is by Stoddard Jess, Vice
President of the First National Bank of Los Angeles.
The other concerns the “ Growth of Banking in San
Francisco Since the Fire,” and is from the pen of James
K. Lynch, Vice-President of the First National Bank
of San Francisco.
THE FINANCIAL SITUATION.
In course of some timely and sensible things said
in an address on last Wednesday to farmers at the Okla
homa State Fair, Mr. B. F. Yoakum of the St. Louis &
San Francisco Railroad used one phrase which might
well remain in men’s minds as expressive of new con
ditions that are not to be treated hastily. In the early
years of the country, he said, commerce was almost
wholly within the State. Population was thin and
scattered; communication was by rough wagon roads,
and, indeed, anybody whose recollections go back of
the middle of the century, to the infrequent letters
and the high postage rates which then prevailed, can
realize that, when mail communication is rare and
slow, all trade must be narrowly local. As the coun
try grew and railroads extended, a far-reaching, con
nected and inter-dependent industrial development
has come into existence, until now only the veiy small
and naturally local businesses confine themselves
within one State.
Under this development, said Mr. Yoakum, the
people of the States and the people of the entire coun
try “ have been welded into an industrial whole, and
a crusade against one class is a crusade against all
classes.” This community of interest he calls “ the
New Industrialism,” which he says “ has been mis
taken by some as predatory wealth, by others as revo
lutionary plutocracy, and by still others as a cause for
'New Nationalism.’ ” He admits fully that it must
be under some sort of authority, and be made to obey
some law; “ but that it should be made the sport of
politics, the theme of demagogues or the plaything
of Socialists every good citizen fervently hopes to pre
vent.”
Now, “ if, in order to properly regulate the growth
of New Industrialism, it is necessary for the Federal
Government to have more power than wras 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:
“ This New Industrialism must and will conform
itself to the new laws of the country, but it protests
that these new laws should not proceed from the hot
[VOL. LXXXXI.
zeal of overwrought political economists. If in the
course of time this New 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 an orderly way,
and by such Constitutional methods, as will, on the
one hand, insure the stability of our Government, as
well as on the other hand promote the progress of our
country.”
In one sense, it might be said that the prodigious
industrial expansion of this country in the last quar
ter-century has caught the people unprepared, and
has introduced an obstacle to their own prosperity; for
problems have come in, some of which are really seri
ous and others of which have had their seriousness
magnified out of due proportions by their nearness
and suddenness; and thus it has been made to seem
that great evils need immediate remedying. The agi
tator sees his opportunity and seizes it, adroitly turn
ing the rather natural American impatience so as to
seek and attempt to cure these supposed evils imme
diately. That matters will gradually adjust and right
themselves by operation of natural laws is not re
membered and trusted as formerly; agitation, new
statutes, and drastic enforcements without reflection
upon possible consequences, arc expected to make
people virtuous, and therefore happy right away,
whereas all observation teaches that the only events
in this life which come suddenly are the calamities.
The most dangerous symptom is the disposition,
sedulously cultivated by the most prominent agitator,
to regard written constitutions as in the nature of
impediments to progress, and not ordy to change them
often but to so arrange them as to make changes easy,
as it has been happily put, to fi-x- ponatitntions so
that they can be changed over night. Nobody is so
foolish as to imagine that the people can be prevented,
in the long run, from having their own way, so far as
their way can be obtained by any human means.
The wildest proposition ever broached can be imbedded
in the Federal Constitution, despite all the conserva
tive elements, if the people only get enough possessed
by it and stay so long enough. The utmost anybody
can expect—and the last which any sane person can
deny—is that the people shall be perfectly sure what
they do want and not act under any mistake about
their own minds.
This sureness can be had only by going slowly and
deliberating long before acting. Therefore any New
Nationalism, by whomsoever urged or under what
specious general phrases it is covered, which presses
the people to act upon their anger or other impulses,
is a danger to the rights and prosperity of every citizen.
Mr. Yoakum only expresses the growing conviction
that what we need in this country, for a considerable
time at least, is less action and much very careful
reflection. Now that we are in the annual elections
struggle, is it not just the time to pause and think?
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
lathers gave it to us, makes the functions of the office
most precious to every one who feels in every fibre,
as you do, their sacred importance.”
Right and just conclusions of the particular matter
in hand, and preserving the fundamental structure
of government as delivered by the founders—nothing
could better express the idea which formerly prevailed,
and also the degree of departure which has gradually
come over-the country. The departure is not yet in
things done, and we are permitted to hope that it
never will be; but in the talk which has been indulged
in and has been received without much protest are
menacing indications. On the other hand, it is
reassuring to believe that in this letter Mr. Taft
expresses sincerely his own deep convictions as to the
functions and (more important) the fundamental
character of the high courts.
This view forbids any consideration, when selecting
a new member of this great tribunal which has been
so much changed in this present year by natural
causes, of how this or that man is likely to hold with
reference to any particular problem. Not to uphold
any particular law which may be deemed by the
Executive of great importance, but to establish
permanent justice and preserve the foundations
unimpaired— this is what the President is bound to
keep before him, and Mr. Taft binds himself anew to do
so. He is himself, before all else, a jurist and satur
ated in the conservatism and deliberation which
belong to that temperament and training. There has
never been a time in the history of the country when
the ancient rule of courts to “ stand by the decisions”
ought so firmly to be adopted by the people. The
people need to stand by both decisions and courts,
for they are the very citadel of the governmental
structure upon which we must depend for peace and
genuine progress.
The weekly statements of the principal Central
Banks of 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 3 j^ % . By borrowing
freely, the Bank could no doubt bring the figure
appreciably nearer the official minimum. Thursday’s
statement discloses a loss of $15,700,000 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
latter course will in all likelihood be followed. The
situation calls for careful handling, but not for alarm—
the percentage of reserve is comfortably above the
average for the first week in October, the Government
finances are sound and there is no excessive speculation
907
on the London Stock Exchange or, for that matter, in
New York, while most of the international exchanges
arc in London’s favor. At Berlin the pressure in the
money market has distinctly relaxed since the Reichsbank named 5% as a minimum discount charge; spot
bills can now be placed at 3 % % . This is the more
surprising in view of the very unfavorable return
issued by the Imperial Bank at the beginning of this
week. The loss in cash at the month-end exceeded
$40,000,000, note circulation expanded upwards of
$125,000,000, discounts increased more than $105,
000,000 and loans nearly $35,000,000, while deposits
fell ofi fully $11,000,000. The inference to be drawn
from the subsequent easiness in rates is that the
customary return flow of funds to the Bank has
already set in, so that it is reasonable to expect a
much stronger showing next week. No concern need
be felt over the monetary position in Paris, notwith
standing that the Bank of France on Thursday re
ported a loss of fully $4,000,000 in gold and an increase
of more than $21,000,000 in note circulation. The
discount rate remains a trifle under the Bank’s mini
mum figure of 3% , and there is little probability that
any change in the latter will become necessary. None
of the European banks advanced rates this week, but
the Bank of Bengal raised its quotation from 4% to
5% and the Bank of Bombay also added 1% to
its minimum, making it 4% . As pointed out else
where in this issue, to-day’s weekly statement of
the New York Associated Banks is likely to show im
provement over that of last Saturday, while the in
quiry for accommodation remains quite light.
The monarchical system in Portugal, which was
threatened when King Carlos was assassinated along
with the Crown Prince in February 1908, has in the
brief space of one week been overthrown and a pro
visional 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 Portugupse 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
Republican ideas in the minds of the naval and mili
tary forces, the wealthy classes, the student bodies,
908
THE CHRONICLE
and, wherever possible, the proletariat, so that when
the signal was given, revolt sprang up on all sides.
Apparently it was during Monday night that the first
shot was fired. Warships lying off Lisbon immediately
began to bombard the Royal Palace, revolutionary
troops attacked the regiments that remained loyal, the
police were quickly disbanded, and the populace joined
the movement Avith great enthusiasm. Meanwhile
King Manuel had made his escape. His whereabouts
for several days was unknown, but yesterday it Avas
announced that he had landed safely at Gibraltar.
The Queen Mother and the King’s grandmother, the
Dowager Kmpress Maria Pia, also fled Avith him.
Much blood Avas shed in the streets of Lisbon before
and after the hoisting of the neAV flag of the Republic,
the number of casualties being estimated at 3,000,
but the outcome seems never to have been in doubt
so general had become the dissatisfaction with the
existing regime. Precautions AA'ere promptly taken
to prevent the arrival at the capital of loyal troops
from the provinces, all railroads and bridges beingdestroyed. Presumably, also, early iicavs of the up
rising Avas kept back from parts of the country where
the revolutionary agitation had not made great head
way. At all events, no succor Avas forthcoming for
the Royal troops stationed in Lisbon, and as the great
mass of the metropolitan citizens sympathized Avith
the revolutionists, it Avas comparatively easy to pre
serve order.
A republic Avas duly proclaimed and a provisional
government, composed of men of eminence, AAras
form ed, with Theophile Braga as President.
I he
personnel of the new Administration is as folloAvs:
President, Theophile Braga; Minister of Justice, Alfonse Costa; Minister
of Foreign AiTairs, Bernardino Machado; Minister of Finance, Bazilio
Telles: Minister of Public AVorks, Antonio Luiz Gomes; Minister of AA'ar,
Col. Barreto: Minister of Marine, Amaro Azovado Gomes; Minister of the
Interior, Antonio Almeida; Civil Governor of Lisbon, Fusebio Leao.
The neAV President is a noted philosopher and a
member of several European academies. 1he Minister
of Foreign Affairs is described as a brilliant journalist,
avcII informed regarding international politics and
diplomacy. The Minister of Justice has attained
national fame as a professor of law and an effective
orator. The whole body is calculated to command
respect at home and abroad, and hence it may be able
quickly to establish a permanent government, provided
no intervention come from any of the leading European
Powers. Naturally many problems remain to be
solved. First of all, vigorous resistance on the part
of the Provinces may have to be overcome. Then,
the attitude Great Britain will assume remains in
doubt, inasmuch as that country had an agreement
to protect King Manuel whenever he,should apply for
assistance. The disposition of the Portuguese colonies
is another matter that will require delicate handling,
especially as it is said that Britain and Germany longago discussed the advisability of taking over control,
the one of the East African and the other the West
African possessions, Avhenever Portugal should fail to
provide proper administration. The Vatican may
also seek to throAV obstacles in the Avay of the neAV
government, inasmuch as the deposed King aa\ts a
strict Catholic and had refused to folloAV the rigorous
example of Spain in dealing Avith clerical activities.
At this juncture, however, the indications are that the
republic Avill receive prompt recognition from the prin
cipal European governments—the Spanish Minister
[VoL. LXXXXI
has already called on the Republican leaders. It was
reported on Thursday that Premier Teixeira cle Sousa
and Minister of Justice Manuel Fratel had relinquished
the direction of affairs of State to the neAV government.
Developments of the most far-reaching importance
may folloAV the AA-eek’s events in Portugal. The throne
of King Alfonso is regarded as insecure. As in Portu
gal, discontent has been brewing for months, and
the present regime is unpopular with a considerable
section of the population. Within the last few days
there have been murmurs of an open revolt in various
parts of Spain. In fact, it is stated that the. Portu
guese and the Spanish Republican leaders had planned
to start a revolution simultaneously, reputedly on
Oct. 13, the anniversary of the shooting ot Professor
Ferrer by the Spanish troups; but the killing of Pro
fessor Bombarda precipitated action in Portugal.
The best European opinion is that the doAvnfall of the
Spanish monarchy is inevitable sooner or later. Such
a coup might open up the question of a union of some
sort among the various Latin nations, not only on
the Continent of Europe but in South America. Curi
ously enough, it Avas in the month in which King Man
uel was born that Brazil cast off the monarchy and
became a republic. Incidentally, the President-elect
of Brazil, Marshal Hermes da Fonseca, had paid a
visit to the Portuguese King immediately prior to the
outbreak of the revolution, and had scarcely returned
to his vessel when the palace where he had dined began
to be shelled. Further developments in Portugal as
Avell as in Spain are therefore awaited with intense
interest throughout Europe, AArhile the United States,
though having no close relations AA-ith Portugal, cannot
remain indifferent to the possibilities that have been
opened up.
Events have proved the wisdom of our port authori
ties in exercising strict vigilance in examining all immi
grants arriving from the Continent of Europe. It is
iioav officially admitted that a “ suspicious case” re
moved from the steamship Germania on Sept. 26, and
Avhich subsequently proved fatal. Avas cholera. Ihe
steamship Sant’ Anna also had a case of cholera
aboard on its way from French and Italian ports; the
victim, a man in the steerage, died on Sept. 25 and
was buried at sea, while tAvo other doubtful cases Avere
taken under observation when the vessel arrived at
Quarantine. The steamer Moltke, from Genoa and
Naples, likeAATise had one suspicious case among the
steerage passengers. These incidents have caused the
authorities to redouble their precautions against alloAVing the disease to enter New York. The head of the
United States Bureau of Health and Marine Hospital
Service (Dr. Walter Wyman) has come to this city to
co-operate Avith the health officer of this port (Dr.
Doty). In addition to detaining possible “ cholera
carriers” on arriving here, it has been arranged to in
crease the safeguards taken at the various ports of
embarkation. Steerage passengers arc subjected to
close observation for five days before being allowed to
sail, and, needless to say, no person suffering from any
form of sickness is permitted to take passage. Our
Government, it is learned, has instituted many other
precautions, not only at European ports and in . \ cav
York, but at Boston, at N cav Orleans, at Manila and
elsewhere,with a vieAA- to preventing the scourge from
THE CHRONICLE
O c t . 8 1910.
g e ttin g
a
e v e ry
fo o th o ld
a u t h o r it ie s
o f
o n
c o n fid e n c e
th e
to
th e
in
p ro te ct
in
c o m m u n ity .
b e e n
in fe c te d ,
I t a ly
is le s s
m a in la n d .
th e
a b ility
e v e ry
A b ro a d
b u t
th e
a la r m in g
w a y
a
fre s h
fro m
it
w as
p e o p le
th e
h a v e
ren ce
o f
r e s p o n s ib le
th ere
is
p o s s ib le
fe w
n ew s
th a n
O u r
o f
th e
R u s s ia
la s t
h e a lth
d is tr ic ts
a n d
to
S ta te
tio n
o f
th e
O il
C o .
in
s in c e
D e p a rtm e n t
b u s in e s s
w o r ld
its
fo r
fig h t
a c q u ie s c e n c e
te rp re te d
a n d
in
c r im in a to r y
te re sts.
p a n y
in
o f
fo r e ig n
th a t
th e
a d v erse
g en era l
c o n d itio n
b y
D e p a rtm e n t
s in g le
o u t
th e
p ro v e
in
ra n g ed
fo r
W o rk s ,
it
is
th a t
to
a b o u t
8 1 5 ,0 0 0 ,0 0 0 .
b u ild
g in n in g
o ffic ia l
n a tu re
cu rre n t
w eek ,
m a rk e t
c o n s tr u c tio n
p u b lic
b y
co tto n
tw o
reg a rd s
c o u ld
th e
th e
r e s tr ic te d
v o lu m e
b een
o f
2 ,3 0 2 ,2 1 1
sa m e
d a te
w a s
k n ow n
to
e ls e w h e r e
25
a
fa llin g
y e a r
o ff
s is s ip p i,- S o u t h
g re a t
an
w ea th er
d u r in g
C o n d it io n
a c c o r d in g
fo r
to
o b v io u s
c o n c lu s iv e ,
p e r io d
a ls o
O n
th e
th e
a m o u n t
190 9,
a
in
v e iy
th a t
a
fa ct
th e
A rk a n sa s
re ta rd e d
th a t
a
to ta l
to
th e
a g o
a n d
th e
cro p
m a tu r ity
a ls o
a p p re
e x cess
v e ry
la r g e
G e o r g ia ,
d e n o te s
b y
to
b e lo n g
a rc
a n
p u t
n o t
u p o n
to
a n te ce d e n t
b e
g iv e n
to
th e m ,
th e
fo r
r e g u la t io n
w it h
O u r
b u s in e s s .
c o m p ila tio n
fro m
o ff
sh ow s
S e p te m b e r
lig h t,
a t
som e
H o u sto n
h o w
m e n to
b u t,
as
o ccu r
F la .;
a n d
S a n
c o n s p ic u o u s
a t
th e
th e
Y o r k ,
p a rt
o f
is t o
b e
d im in u tio n
in
th e
b y
a
e ls e
d e c lin e
rea son s
m o d e ra te
m e r c a n tile
th a t
d e
lin e s ,
“ p o litic s ”
o f
is
g o v e rn m e n ta l
is
a n d
m o re
p r e v a le n t, a n d
is a
th e
h e a v ily
in
at
a n d
d is p o s it io n ,
r e s u lt
u p o n
d o w n
C a l.,
o f
th e
n ew
1908
r e s p e c t iv e ly , a n d
o f
en
th e
a n d
w it h
I t
is
c o n t in u e
as
o ff
a
th e
c a le n d a r
g a in s
o f
o v e r
J a ck
O r e .,
th e
w ith
are
o f
1 .2 %
1907
th e
co u n try
1909,
a u g m e n ta tio n
y e a r
b e
are
S a cra
r e s u lt
in
co m p a re d
th e
to
a n d
M a s s .;
P o r tla n d ,
fa llin g
in c r e a s e
c itie s
rev ea l
G a lv e s t o n , T e x a s ;
as
a re
137
y e a r,
p o in ts .
g a in s
2 .5 %
th e
th ere
th e
c le a r in g s
p r e v io u s
W h o lly
th e
to
o f
o f
W o r c e ste r -,
reg a rd .
Y o r k ,
42
m o st
c itie s
S e p te m b e r,
m o n th s
w it h
th e
O .;
D ie g o ,
th is
c u ttin g
n in e
tra sted
in
N e w
w h o le
1 6 .1 % ,
o n
V a r io u s
a w a it
th a t
o f
C a n ton
a
c le a r in g s
y e a r
p rog ress,
retu rn s
h o w e v e r,
n o t e d ,a ls o ,t h a t
as
m e r c a n t ile
e x h ib ite d
T h e re
to
e n t e r in g
c o m p a r a tiv e
fa llin g
in
a rea
6 % .
g re a te r
o n ly
m u ch
th e
c o m
*
fu r n is h in g
lo s s e s
is
o f
N e w
la s t
u n c e r ta in ty
m erch a n ts
b e fo r e
g a g em en ts.
v ie w
so
fa ct
th e
o f
at
th e
w it h
m a n y
in te r fe r e n c e
p a rt o f
e le c tio n s
W ith
th a t
n e a r ly
co u rse ,
te rm e d
in
A
re co rd
in
to»
th a t
c o n d itio n
a p p e a l 's
b u s in e s s .
b e
o f
b y
d ecrea ses
a cce p te d
fe e lin g
o u r
e x p la in e d
e x is ts
it.
in te r fe r e s
to o , o n th e
fa ll
a
b e
m a y
n o w
a n d
th re a te n e d ,
th is
w h a t
fo r
to
c o n tin u e
w h ile
n o t ic e a b le
th e
o r d in a r y
g e n e r a lly
r e s p o n s ib le
v e iy
b u t
o f
th a t
th e
th e
r u le ,
v o lu m e
p r e s s io n
b u t
a
m u ch
co n
W h e th e r
w h ic h
co m p a re d
la r g e — A u s tin ,
d iffe r e n t
a cce p te d
as
b y
w ill
a c tiv ity
B o sto n
as
u p o n
c o m p ila tio n
O f
s o n v ille ,
u n fa v o r a b le
e n tir e ly
fo r
in
y e a r.
r e s u lt
fa lla c io u s .
w a s s e c u r e d ),
is s u e .
M is
e x e r t m o r e o r le s s in flu e n c e ,
in te r p r e ta tio n
e s p e c ia lly
th e
d e c lin e
in
are
in
to
b a le s
p r e c e d in g
th e
as
it
o f
b y
m o d e ra te
h a n d ,
A s
g in n e d
fo u r
a n d
d is c lo s e d
are,
2 0 0 ,0 0 0
b u t
th e
th is
th e
a n n o u n ce d .
b e lo w
in c r e a s e d
lu ll
r e q u ir e d
fo r
p ro v e
it
w h en
th e
so m e
b a sed
fro s t.
p o in ts
o u r
in
a fte r th e
is t h a t
S e p te m b e r,
w h ere
is s u e d
su m m er.
rea son s, th e y
a n d
w h ere
n e a r ly
S ta tes
w as
y ea rs
o f
P h ila d e lp h ia
lo s s
o f
s p e c u la t io n ,
s a id
b a le s
tw o
m o n th
a
b y
O k la
S in c e
w as
to
10-
c o n d itio n
w ill d e t e r m in e .
b a le s
b e e n
o f
fu r n is h e d
p a g e
8 .9
a n d
b e
n eed s
b u t
y e a r
1 3 ,8 2 8 ,8 4 6
e v id e n c e
is
th e
o f
w a s
th e
in d ic a te d
c o m p a r a tiv e ly
p r ic e s
b y
fu tu r e
(th e
m e a n tim e
a cco u n te d
d a te .
y e a r
th e
y e a r
1908
sto ck
a n d
a p p ea rs
th is
th is
o f
F u rth e r
th e
la te ,
k ille d
o v e r lo o k e d
a m o u n t
cro p ;
It
25
o f
o th e r
c o n s e q u e n tly
th e
th e
o f
is
is
th e
25
a
w o u ld
a p t
n o t b e
in
fir s t
are
o r la te
a ffa ir s
fo r
tim e
e a r ly
d a te
to
w ere
sea son
th a n
w a s
o n
th e
re p o rts
la s t.
in v e s t ig a tio n s
w h o le
w a s
in c lin a t io n
p r o g n o s tic a tio n s
p la n t
2 5 ,
in d ic a to r
a d v a n ce d
o f
im p o rta n t
a n d
b e
an
T e x a s,
sh o w e d
m a tu r ity
to
o f
b a le s
e ith e r
m a d e
A g r ic u ltu r e
is
th e
b u llis h
rep ort
th e
a
in
s h o u ld
S e p t.
a n
th a n
a d v a n ce
th is
th e
th e
m e r c ia l c r o p
an
th e
sen se
S ep t.
th a n
b y
o f
o f th e
2 ,5 6 8 ,1 5 0
In
a n y
b e
w h ic h
a t
o n
u n til
o n
o f
fig u r e s
(5 8 .5 )
h o w e v e r,
th a n
7 2 .1
th a n
A rk a n sa s
p o in tin g
le s s
a g a in s t
1908— th e
c o n s u m p tiv e
D e p a rtm e n t’s
cro p
sa m e
D e p a rtm e n t
a n d
o f
S e p t.
b e lt,
in
in
th e
r e c e ip ts .
la r g e r
sa m e
rep orts
ca te g o ry , a n d
th e
as
o r
fo r th e
B u t, o b v io u s ly , cro p
co n
o f
s u b s ta n tia te d
fu r th e r
C a r o lin a
e x te n t
o f
w ith
co st
rep orts
la s t-n a m e d
w e ll
a g a in s t
th a n
su ch
a
M o n d a y
co v e re d
it
2 ,5 9 0 ,6 3 9
th e
a g o .
in
a t
it
w o r ld ’s
a cco u n ts
is t o
1
m ore
to
o n ly
A la b a m a
T h is
th e
a w a rd e d
co n stru e
y e a r
h as b een
th e
g iv e n
b e tte r
lo w e r
S ta te s,
ca se ,
y e a r,
b e in g
m o n th ly
b e lo w
T e x a s,
th is
th e re
th e
s u p p ly
T h e
a p p a r e n tly
h ig h e r
to
to
S teel
to
n o r m a l,
m u ch
d e t e r io r a t io n
th ese
p r o d u c tio n ,
o f
w as
m .
th e
1907.
in
th e
g rea ter
a.
S e p t.
th e
m u ch
n o t
d u r in g
y e a rs.
o v e r
w a s
in
b e
th a n
c ia b ly
o f
b a le s ,
S e p t.
th a n
10
fo r
g in n e d
b a le s
q u a rters
d it io n
e x te n d
o f
2 5 th
a n d
w e ig h t
th e
th is
o f
fra ctio n a lly
m o d e ra te
e v id e n tly
(P a .)
g in n in g
b a ck w a rd n ess
la s t y e a r ,
1 ,5 3 2 ,6 0 2
a t
a lr e a d y
th ere
m u ch
v e ry
in v a r ia b ly
th e
s in c e
fa llib le ,
u n d u e
o n
is
p o in ts
M is s is s ip p i,
e a ch
is
g iv e
c o n d it io n
n a m e d
G re a te st
r e p o r t w a s is s u e d
u n c le
o n
o f
sta te m e n t,
gen era l
h a d
T h e
n o th in g
b een
T h e
s h o u ld
is
S u u n ,
b e ca u se
D e p a rtm e n t
g in n in g
h a d
a b ro a d ,
In
th is
w h en
a n d
is
6 5 .9 %
3 .9
y ie ld —
a v e ra g e .
L o u is ia n a ,
fr u it
C h in a
la tte r
it.
b e tw e e n
as
is
to
in
d a te
to
S e p te m b e r
p la n t
B u t
o n ly
h o m a .
th e
y e a r,
th e
re co rd
y e a r
ar
c o n d itio n
B u rea u
c o n d itio n
ta k en
q u ite
w h ic h
th e
u p o n
L a b o r
th e
b e
s ig n
o f
fo r
is s u e d ,
it
fo r
th is s o le ly
a n d
o n
a
fir s t
la s t
A s
in
as
e a r lie r .
25
lo w e s t
w eek
b e e n
a t t e n t io n
o n ly
C en su s
la te r
re p o rt
co tto n
a n d
g in n e d
h ou rs
its
b u t
th e
C o m m e rce
o f
a n d
p u t
F ed era l
as
S e p t.
h a s
en g a g ed
in flu e n c e ,
b u t
m o n th
th is
a n n o u n ce d ,
b a t t le s h ip s
co m
A u s tr ia .
B e th le h e m
h a s
th e
c o u n t r ie s
c a lc u la t e d
T sa i
th e
co m p a n y
tw o
th e
G o v e rn m e n t
O n ly
P r in c e
n o w
b y
in
to
o il
h ere
D e p a rtm e n t
tra d e.
to
th e
tra cts
C o tto n
S ta te
b y
C h in a ,
a n d
o u r
d is
h o m e ,
tre a tm e n t
d e s ig n e d
b y
as
th e
a t
o th e r
u n fa ir
a ll m o v e m e n t s
v is it
o f
a u th o r ity ,
O u r
fo r e ig n
a
E m p e ro r
b e e n
b y
co n stru e
p e r m it
fo r
m is in
fo r
in d u s t r ia l
o p in io n
c o m b in a tio n
w ill
b e
p re ce d e n t
a ffa ir s
n o t
th e
o ffe r e d
w it h
c o u n tr y ’s
v a st
S ta n d a rd
m ig h t
a
a d o p te d
its
m u st
h as
s a lu ta r y .
sy m p a th y
th e
o f
S ta tes
p ro te st
as
th e
A m e r ic a n
p o lic ie s
co m p a n y
a p p a r e n t ly
p ro m p t
u p
co m m e n d a
d e t e r io r a t io n
o f
n a tu re
te n d e n cy
d e v e lo p m e n ts .
w a s
th e
H u m a n
som e
fro m
A u s tr ia -H u n g a r y ,
d iffe r e n c e s o f
a g a in s t
U n it e d
in
o c c a s io n
h e ld
b e
c o m p e t it o r s
in s t it u t e d
s u p p o r tin g
a g a in s t
m a y
th e
fro s ts .
th ere
m o n th .
r e c e iv e
p la y
th is
co n d u ct
s u its
as
on
c e r ta in
th e
fo r
fa ir
fu tu re
a c tio n
T h e re
p r o p r ie ty
w ill
k illin g
g e n e r a lly
h a v e
a
T h e
909
191 0.
is
fo r
C o n
a n d 3 1 .8 % ,
fo r
th e
n in e
TH E CHRONICLE
910
m o n th s
g a in
rea ch es
fo r
th e
1 .3 % .
is
F o r
a n
th e
C o n tra ste d
sh o rt
A t
N ew
is
w it h
in
a ls o
a
p e r io d
a
d e c lin e
s in c e
C o m p a r is o n
7 .9 %
e x c e p tio n a lly
fa c t,
th a n
s in c e
190 0,
190 4.
in
la s t
s a tis fa c to r y
th e
e ith e r
fo r
th e
a
g a in
th e
N e w
190 8,
3 4 .9 %
in c r e a s e s
th e
p r in c ip a l
4 %
B a n k
o r
in
th is
w it h
b ills
T h e re
fo r
th e
3 .3 %
a n d
T h e
1909
190 9, a n d
a n d
190 5.
th e
c e p t io n
o f
a ll
o f
th e
4 4 7 ,1 0 6 ,
1909
s in c e
a g a in s t
d e a lt
1 ,2 2 4 ,6 1 7
le s s
o p e r a tio n s
T h e
y e a r
fig u r e s
in
are
sh ow s
a n
s in c e
1
is ,
n in e
th e
fo r
o f
1909.
A t
1909,
h a v e
o n ly
w it h
th e
th e
y e a r,
n in e
b e e n
fro m
to
en ter
m ore
o f
fo r
th e
n e g o tia te
T h e
2 1 .7 %
190 9.
a n d
sh a res.
o f
m u ch
C a n a d a
c itie s
c o m p a r a tiv e
fo r
a g reed
o p e r a tiv e s
to
a r b itr a te
d is c h a r g e
a
s tr ik e
b y
fro m
in
g rea ter
1910
o f
r a is e d
th a t
S in c e
in
th e
in
th e
in te r v a l
ca sh
a n d
h as
c u la t io n
th ere
a n d
w ith
th e
to
M a ster
C o tto n
u n le s s ,
b e fo r e
th a t
p lis h e d
fa c t
ca u se
b y
a n y
tr o u b le
t im e .
on
3 % % .
th is
B a n k
o f
b e in g
th e
ta k e n
o n
h a v e
s in c e
th e
in
o f
a t
th e
lo c k o u t
th a t
w it h
1908
4 %
o f e ffo r ts
to
su ccess
w a s
th a t
B a n k
h is
M o n d a y
fo rm e r
ca se.
n e x t.
b e e n
a rra n g e
o f
p o s itio n
w ill
a rra n g ed
th a t
th e
fro m
d is c h a r g e d
W o rk
b r in g
gen era l
an
a cco m
d id
n o t
d iffic u lty
a tta in e d
th e
th e
Y e t
s h ip m e n ts
th e
th a t o n
b een
o ffe r e d
T h u rsd a y
b ills
in
su m
c ir
ra n ge
to
a r r iv e .
b e in g
th e re
h as
b e lo w
th e
o f
in
le s s
n o te
th e
la tte r
w eek
le v e l
b e e n
a
o ffic ia l
u n ch a n g e d
a
th e
at
ch a n g e
B en g a l
a n d
fo rm e r
th e
b o u g h t
to -d a y
a
b y
la r g e
to
E g y p t,
b e
r e c e iv e d
th e
la tte r
fir s t
in
th e
in s ta n c e
fro m
th e
m a rk et
3 %
w eek
It
o f
is
g o ld
o th e r
o f reserve
w eek
to
w ere
so
to
to
on
sta n d
e m p lo y e e
p e n d in g
c o n s e q u e n tly
b e
o n ly
p a id
p e r io d s ,
o ff
h e n ce
£ 5 ,1 7 2 ,0 2 6 .
T h e
en t
in
fo rw a rd e d
th e
d e c lin e d
T h is ,
a v era g e
c a r r ie d
T h e to ta l d ecrea se
w ere
a ls o ,
s h ip m e n t
w as
m a d e
o p e n
o u t
to
th e
u p
o f
th e
h e a v y
B a n k
o f
o f
w ere
as
w h o lly b o u g h t in t h e o p e n
d e
(o f
b e
an d
o f
w h ic h
£ 1 ,9 6 0 ,0 0 0
£ 6 6 ,0 0 0
£ 1 ,0 7 1 ,0 0 0
to
to
v a r io u s
net
to
h a s
th e
th e
ta k in g s
G rea t
o f
d e p o s its
th e
to
O u r
lo s s
w a s
to
B r it is h
q u a r te r ly
a n d
£ 3 9 ,
co rre sp o n d
in
g rea test
E g y p t;
fro m
o f
£ 3 4 ,4 1 3 ,
a g o
m a in ly
lo a n s
sto ck
£ 1 ,7 0 4 ,0 5 1 .
fa lle n
th e
B r ita in .
m o d e ra te
d e t a ils
th e
p u b lic
w eek s
in
th e
T h e
a t
in c r e a s e d
s ix
th a t
in te r io r
T h e
in
h a n d
e x p o rts,
e n tir e ly
m a rk e t.
th a t
o f S e p te m b e r.
u s
la r g e
h o w e v e r,
to
on
m id d le
a d v is e s
d u e
su m s
d e p o s its
is t o
w e e k .
o b lig a tio n s .
s h r in k a g e
£ 4 0 ,3 2 9 ,0 0 0
th e
fu r th e r
m ea su re
a
its
th a t
o u r s p e c ia l c a b le
s h o w in g
la r g e
o f b u llio n
a g a in s t
7 0 9 ,0 0 0
o f
O th e r
a m o u n t
0 5 2 ,
fe w
d is tr ib u te s
h as
to o ,
b e
th is
a b o v e
£ 6 3 7 ,1 0 9 ,
w as
g o ld
lia b ilitie s
a t th is s e a s o n d u r in g th e la s t d e c a d e .
to
h e a v y
b u llio n
b a r
w ill
th e
h a n d , £ 5 0 0 ,0 0 0
4 7 .6 8 %
s t ill a p p r e c ia b ly
m a n y
o f
M o n d a y .
k n o w n ,
A c c o r d in g
r a t io
in
on
£ 3 0 0 ,0 0 0
B a n k .
o n
tim e
p r ic e , m o s t
o f £ 2 ,9 3 5 ,6 8 8
th e n
B r a z il.
la s t
th e
o p e n
c o n s ig n m e n t
fro m
is
th e
s in c e
th e
L o n d o n , th e
h o w e v e r,
in
d ecrea se
a lth o u g h ,
5 0 .3 9 %
fo r
m in im u m
d u r in g
a
a lth o u g h
w h ose
m a k in g
a
w a s
fin a lly
a n d
E n g la n d
g o ld
E x ch e q u e r
to
th a t
o f
£ 7 0 0 ,0 0 0
m a rk et
p r e c ip ita te d
b u t
fo r
th e
B a n k
B a n k
la r g e
its
a n n o u n ce d
a d v a n ce
5 %
se cu re d > a t
fin a lly
M o n d a y , O cto b e r
r e c e d in g
th e
h a v e
b e ca m e
th e
to
4 %
th e
th e
a
e x te n t;
1 % ,
th a t
a tte n
G e rm a n y
in r e s e r v e s w a s £ 3 ,1 5 2 ,0 5 9 , w h ile t h e r e d u c t io n
F e d e r a tio n
M ill
m e n tio n e d ,
o p e r a tiv e s
h is
F ern
c lo s e s
w ere
B o m b a y ,
o f
th e
th e
o f
lo s t
B r u s s e ls
%
o r
to
3 % ;
b y
e x p a n d
4 % ,
ra te
4 % .
fro m
e m p lo y e e
a n n o u n ce d
d a te
a n d
th e y
r e -e m p lo y e d
O ld h a m
A t
b a n k s
w e e k
a n d
to
its
n o t w it h s t a n d in g
h a s
to
n o t
th ere h a s b e e n
e n o rm o u s
b ills
ra te.
o n ly
fro m
a n
o f
B a n k
5 % ,
lo n g
p o s s ib le
p a y m ore
h e ld
m a rk e t,
B a n k
3 % %
V ie n n a
T h e
ra tes
fro m
th a n
r e p r e s e n t a t iv e s
e v e r
T h e
th e
T h u rsd a y ,
te r m in a tio n
th e
at
b e e n fo r c e d , b e g in n in g
th e
r e la x a t io n
h a d
o f
E ffo r ts
T ra d e
S p in n e r s
a r b itr a tio n ,
resu m ed
o f
s e ttle m e n t
lo c k o u t w o u ld
3 rd ,
M ill
fa c to r y .
B o a rd
som e
ca se
F e rn
(E n g .)
sp o t
3 % % ,
m in im u m .
to
fo r
q u o te s
to
o b lig e d
to
B a n k
r e c e s s io n
th e
b e e n
lo a n s
is 3 % %
A m ste rd a m
4 %
m o n e y
fo r
m a y
m a k in g
ch a rg e
g o ld
fo r
a r r iv e ,
is e x p e c t e d
u s u a lly
I m p e r ia l
fro m
B e r lin
b ills t o
3 % %
to
is
o ffic ia l
in
th e
its m in im u m
te n s io n
o f
d ecrea se
F ra n ce .
p e r io d
r e s p e c t iv e ly .
L a n c a s h ir e
th e
th e
th a t
L o n d o n
a b o u t
a t
v ie w
it
th e
at
th e
L o n d o n
h o w e v e r,
th e
th e
a m o u n te d
C o tto n
u n d e r
a n d
a te n d e n cy to
to
2 0 .6 % ,
th e
C o m p a re d
5 0 .8 % ,
a
P a r is
o rd e r
q u o te d
B a n k o f E n g la n d
w it h
A t
b ills
in
is
fo r
fig u r e s ,
as th e
m a rk e t
b ills
lo w
3 ^ %
tio n
a g a in s t
m o n th s’
1909 o f
to ta l
sp o t
T h e se
m a d e
in
d is c o u n ts
3 % %
r a n g e is 2 % % t o 3 % , w i t h
T h e
S e p te m b e r
lik e p e r io d o f
9 0 -d a y
e ffe c tiv e .
w eek s
th ir te e n
w h ic h
a g g reg a te
th e
m o re o v e r,
4 2 .0 %
fo r
a r r iv e .
b e
d is c o u n ts
o f
to
a lr e a d y
w ill
p r iv a te
m a rk e t
3 ^ %
it
N o tw ith s ta n d in g
m in im u m
c o n t in u e , in a s m u c h
sh ares
v e ry
D o m in io n
th e
o p e n
A
h a v e
o f
cen tres.
b ills a n d
3 ^ %
to
ra n ge
fo r e ig n
th e
w e
a b ro a d ,
1 0 ,5 7 2 ,8 5 7
4 2 0 ,8 7 9
th e
F o r
th e r e in .
m o n th s
are
m illio n s
sp o t
rem a rk s
p o s itio n
d e ta ile d
ra te ,
d is c lo s e d ,
c o m p ila tio n
s h a r in g
g a in s
c itie s
e x
la s t.
r e c e iv e d ,
J a n .
th e
b o th
s a tis fa c to r y .
o u r
th e
w ere
a n d
th is
a n d
a p
m o n t h s ’ s a le s
s a le s
in
in
w ere
in
sh ares
a n d
s h a r e s , a g a in s t 7 ,1 0 5 ,9 5 5
in c r e a s e o v e r
c it ie s
sh a res
n in e
b e lo w
S e p te m b e r,
4 8 4
sh are
S e p te m b e r
o f c le a r in g s
v e ry
in c lu d e d
a t
th e
w it h
n in e
a t
sh ares
to
d u r in g
m illio n s
a g o ,
o n ly
b a ck
P h ila d e lp h ia
y e a r
th a n
e x h ib it
c o n t in u e s
th e
a
is 6 ,2 8 4 ,9 6 1
th is
fo r
d u r in g
sh ares
a g g re g a te
B o n d
in
A t
w ere
lik e w is e
y e a r,
9 ,3 0 9 ,3 3 5
y e a r
J u n e
m u ch
s m a lle s t,
1910
a n y
w it h
o r
y e a rs
1908
1 ,0 2 6
1 ,1 8 7 ,5 5 5
t o ta ls
s h a r e s , r e s p e c t iv e ly .
w ere
190 8,
T h e
th is
w it h
S e p te m b e r
m o n th s'
o r
th e
1900.
b o n d s
co m p a re
B o s to n
e a r lie r
m o n th s
1907,
in
sh a res,
in
s in c e
1 9 ,9 8 1 ,6 7 5
tr a n s a c t io n s
in
n in e
c la s s e s
d o lla r s ,
in
B o n d
le s s t h a n
fo r
n in e
th a n
o f
to ta l
sto ck s
w it h
sh a res
E x ch a n g e
1 9 1 0 — le s s ,
m o n th
in
c o m p a r in g
1 3 0 ,1 6 1 ,9 7 1
lo w e r
p r e c ia b ly
S e p te m b e r
d e a lin g s
1 7 ,5 8 2 ,4 9 9
to ta l
S to ck
s m a lle s t m o n t h ly
m o n th ’s
a n d
in
c o r r e s p o n d in g
th e
sh a res,
m o n th s ’
c lu d in g
lig h t
Y o r k
th e
w e a k e n e d .
6 0 -d a y
a g o ,
fo r
re co rd e d .
o f
p resen t
h a v e
th e
m o n e ta ry
y e a r.
to
b u t
th e
to
y e a r
is
u p o n
th e re
lo n g
m o n th s.
o f
o f
a
S u p p le m e n t in g
a
in c r e a s e s .
to ta l
fro m
n in e
S e p te m b e r
th e
m ea su re
m o n th ’s
d e c lin e
g iv e s
th e
a n d
7 ,0 7 3 ,5 2 9
a ll
w it h
fo r
1907
o n
w ere
o f
h o w e v e r,
c o n s id e r a b le
is
o n ly
r e s p e c t iv e ly .
T r a n s a c tio n s
in
1,
1907
lo s s
1
w ith
J a n .
th ere
b e in g
q u ite
in
fro m
Y o r k
m ea g re,
a rc
d e a lin g s ,
J a n .
N e w
co m p a re d
im p o rta n t
s m a ll
o f
v e ry
a n d
o w in g
an
is
is
s in c e
th ere
sto ck
th ere
it
9 .2 %
1908
Y o r k ,
e x h ib its
a n d
o f
p e r io d ,
a c tiv ity
O u ts id e
b u t
p e r io d
in c re a s e
th e
y e a r
9 % .
m o n th ,
[ VOL. LXXXXI.
th e re
B a n k
T h e
p u rch a ses
m o v e m e n t
fo r
in flo w
in
th e
in to
a n d
fo llo w s :
Im p o rts ,
m a rk e t;
e x p o r t s , £ 2 ,1 2 6 ,0 0 0
E g y p t,
£ 1 0 0 ,0 0 0
d e s t in a t io n s ),
in te r io r
o f
a n d
G rea t
£ 2 6 1 ,0 0 0 ,
to
T u rk e y
s h ip m e n ts
B r ita in .
T H E CHRONICLE
O c t . 8 1010. |
In te re st
tra ces
ra tes
o f
d ic te d .
th e
a t
C a ll
m o n e y
a v e ra g e d
o n ly
h as
p le n t ifu l
b e e n
b u t
N ew
Y o r k
s t r in g e n c y
2 % % ,
cu rre n cy
a t
h a v e
th a t
n o t
som e
as
lo w
as
4 % % .
p o in t
to
s ta te m e n t to -d a y .
T h e
d e m a n d s
th a n
a b o v e
o f
to
p o rte d ,
O cto b e r,
N ew
h a v e
D o m in io n ,
S to ck
v e ry
th e
b e e n
fo r
o n
b u rsed
b een
E x ch a n g e
la s t
b ro u g h t
w e e k
to
th a t
fo r
som e
th e
in
o r
fro m
fo rm e r
N ew
w ill
tim e
o f
b e
to
in
o f G o v e rn m e n t
th e
flo t a t io n
to
o f
th e
u n til
n ew
th e
w eek
b e
it
b e
fe a rs h a v e
c o u ld
a p p ea r
to
b een
is
g ro u p s
are
T h e
60
d a y s,
in g s
w ere
d a y
3 %
;
90
to
b e
o n
ea ch
h a v e
o f
a t th e
c lo s e .
ra n ge
T h ere
th ere
fo r
to
fo r
90
fo r
to
le s s
d a y s ,
a n d
d e m a n d
to
th e re
w o u ld
@ 4
8 6 4 0 ,
c a b le
in
d a y s
s p e c u la
4
w as
2 %
to
m ig h t
4 %
8 6 8 5
n ew
ra tes,
on
T h e
m o n th s’
ra n g e
a n d
y e s
q u o te d
th e
b ills ,
d e m a n d
is 5 %
w h ic h
@ 5 %
T h e
le s s ly
e x ch a n g e
w it h in
d e m a n d
b e in g
tr a n s fe rs
a t
le ft
in
h a d
co u n te d
4
d o u b t
d e m a n d s
d e c lin e
a
q u o te d
8 6 %
as
to
u p o n
th a t
h a s
n a rrow
h a v e
ran ge
a t
4
@ 4
8 6 % .
th e
n e x t
a d e c lin e
im m e d ia te ly
o ccu rre d ,
ra te s w e re a t th e lo w
a ll
th ro u g h
8 6 )4 @ 4
8 6 )4
O p era tors
d e c is iv e
%
fo r
60
th e
p re ce d e d
a t
m e a n in g
th e
w e e k ,
fin d
T h e
60
th e
m a n ip u la tio n
h as
b een
in
p a rt
to
4
a d
m a rk e t
as
to
g o ld .
in
m ilita te
O u r
o w n
th e
8 6 3 0 @ 4
s ix ty
8 6 8 0
o n
8 3 3 5 .
to
4
4
4
863 5
s ix ty
W e d n e sd a y
4
8 6 8 0 @
T h u rsd a y
c a b le
to
831 5
a n d
O n
8 6 4 5 ,
d a y s
O n
c a b le
to
tr a n s fe rs
832 5 @ 4
863 5
8 6 3 5 ,
d a y s
D e m a n d
e x
fo llo w
8 6 7 5 .
re co v e re d
8 6 7 5 @ 4
8 6 4 0 @ 4
s t e r lin g
o n
8 6 7 0 @ 4
c a b le
s ix ty
sh ow s
e x ch a n g e
b y
th e
so m e
1 60 d a y s
__ \ S l g h t . .
J6 0 d a y s
— \ S lg h t..
J6 0 d a y s
— I S lg h t-.
J60 d a y s
..- • ( S ig h t .J60 d a y s
...I S lg h t..
16 0 d a y s
...I S lg h t..
16 0 d a y s
. . . ( s ig h t. _
16 0 d a y s
...I S lg h t..
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
84H
87
84
87
84^
87X
84 H
87
84 'A
87
84^
87
84
8 7 'A
84 %
87
c a b le
T h e y
866 5
4
4
8 2 % ,
T h e
a n d
4
fo r
8 2 %
8 3 % .
to
m a rk e t
c le s e d
8 6 3 0 @ 4
c a b le s .
@ 4
8 2 %
C o tto n
g r a in
fo r
fo llo w in g
fro m
o n
o f
tr a n s fe rs
8 3 2 0 @ 4
8 3 3 0 .
a d e c lin e o f % c .
d a ily
th e
p o ste d
le a d in g
Tues.,
Oct. 4 .
84
87
84
87
84
87
84
87
84
87
84
87
84^
87 H
84 M
87
84^
87
84
87
84
87
84 H
87
ra tes
fo r
d ra w ers.
Wed.,
Oct. 5 .
Thurs., Fri.,
Oct. 6 . Oct. 7 .
84
87
84
87
84 >4
87
84
87
84
87
84
87
84
87
84
87 M
X
84'A
87
84
87
84
87
84 H
8 7 'A
F r id a y
8 6 3 5
fo r
a t
a n d
fo r
p a y m e n t
g iv e s
o n
d o cu m e n ts
p a y m e n t
th e
in te r io r b y
th e
4
84
87
84
87
84 H
87M
84
87
84
87
84
87
84
87
84
87 «
8 3 1 0 @ 4
d e m a n d
C o m m e r c ia l
c lo s e
1,
b u t
la s t
n o
Week ending Oct. 7 1 9 1 0 .
n ig h t
I t is a s s e r t e d
T o t a l g o ld a n d l e g a l - t e n d e r s ..............
th a t
L o n d o n ,
E n g la n d
84
87
84
87
84 ^
8 7> S
84
87
84
87 :
84 i
87
84
87
84
87 M
4
w e e k ’s
N ew
b a n k s
fo r
ra n g ed
fro m
a n d
w a s
p a y m e n t
fro m
8 3 % @ 4
4
fo r
8 6 6 0 @
q u o te d
4
83 @
8 2 %
@
8 3 % .
m o v e m e n t
Y o r k
8 3 2 0
4
o f
m o n e y
b a n k s.
e x tr a o r d in a r y
O ct.
p o in t fo r th e w e e k .
fo llo w in g
d a y s,
4
th e r e fo r e
m o v e m e n t.
fo llo w in g
a lth o u g h
are
d iffid e n c e .
a t
w eek ,
m o d e r a te o ffe r in g s c a u s e d
B ro w n
B r o s . <fc C o ............
K id d e r, P e a b o d y <& C o ___
B a n k o f B r itis h
N o rth A m e ric a .
B ank of
M o n t r e a l _______
C a n a d ia n B a n k
o f C o m m e r c e __
I le ld e lb a c h , I c k e lh e lm e r <fc C o ___
B azard
F reres . .
..
M e rch a n ts’ B a n k
o f C a n a d a ...........
4
flu c tu a te d
4
a n d
as
th e
%
r e c e iv a b le .
ra tes
to
8 6 8 0
b u t
d u r in g
8 3 4 0 ; d e m a n d 4
4
Fri.,
Mon.,
Sept. 3 0 . Oct. 3 .
a t
F o r e ig n
F r id a y
s t e r lin g
6@
b ills ,
5 ) 4 @ 5 %
in
s lo w ly
o f
s in g le -n a m e
n a m es
b u t
T u e s
w h ile
2 %
w it h
d e c lin e d
8 6 7 0 @ 4
4
so
4
a n d
8 3 2 5 .
d a y s
a g a in
d e v e lo p m e n ts
m o n th s’
s ix ty
ra tes,
ch a n g e d
d e m a n d
8 6 5 0 ,
e x ch a n g e
r e m it t a n c e
a p p a re n t
2 % % ;
w ith
O n
8 3 15 @ 4
o f
m o n e y
la s t
to
8 6 7 0
tr a n s fe rs
r e c o g n iz e d
o f
o f
8 3 3 5 @ 4
d e c lin e d
864 5 @ 4
a n d
o f
lit t le
T u e sd a y
T h e
d u ll.
tra n s fe rs
866 5 @ 4
stren g th
@
b u t
W e d n e sd a y ,
a t
4
4
4
4
d e m a n d
o ffe r
d e m a n d s,
B u s in e s s m o v e s
s ix
b ills
fo llo w s :
T h e
re co rd e d ,
n o
s u p p ly .
a ttr a c tiv e
on
2 % % ,
m a rk et.
s ix
as
.
to
rea ch ed
w a s
d a y s, 4
M o n d a y
b a n k in g
F r id a y
c a b le
O n
C a ll m o n e y
m a d e
u n ch a n g ed
en d orsed
cu rren t
a n d
8 3 2 0 .
tr a d in g
w it h d r a w a ls
w ith
S ix ty
8 6 4 0
th e
d is c o u n ts
e x tr e m e ly
S a tu rd a y
@ 4
m o n th s,
%
o n
tr a n s fe rs
w eek
fo u r
a ls o
b een
c h o ic e s t
a d e q u a te
p r im e
@ 4
p r iv a te
th e
fo r
B a n k
b e lo w
O cto b e r ;
w it h
lo o k e d
en ter
m a rk e t.
fa r
o f
o fte n
o p in io n s
th e
th e
fo r e ig n
so
lo n g
th o r o u g h ly
d e c lin in g
are
fe w
b e e n
o ffe r in g s
fo r
th o se
s e c u r in g
a b n o rm a l
is
th a t
w eek .
u p set
to
to
n o t
to
n o
h a lf
p r in c ip a l
a lth o u g h
is
b o o m
m a te r ia lly , th e
h a v e b e e n
at
th e
is a n
6 % %
d a y
fo r
C o m p a re d
ch a n g e
T h is
tr o u b le s
@ 4 %
a b so rb e d .
2 % %
c o m m e r c ia l p a p e r
d a y
s a tis fy
M o n d a y
d a y
w as
to
to
4 %
m a rk e t
fu n d s
r e c k le s s
th e
a n d
in c r e a s e
m in im u m
c h ie fly
d a y s
r a p id ly
th e
fro m
lo a n s
a n d
h a v e
fo r
p o w e r fu l
a b o u t
c lo s e s
m o n th s,
te rd a y
th e
a
o w in g
th e
e x p ress
a d d itio n a l
m o n e y
m o n e ta ry
g e n u in e
m o n e ta ry
lo a n s
s ix
la tte r
a g a in s t
to
en ou g h
m ig h t
to u ch e d
%
a n d
la r g e
r e n e w a ls
th e
to
in g b a s is :
th e
in q u ir y
m ore
b r in g
th a t
t im e
4 @ 4 %
th e
s u r p lu s
to
k n o w
fo r
liv e
are
d a n g er;
P a ris ,
d e a d lo c k ,
v e ry
d a ily
fir s t
h a s
fr e e r
b e e n
th e y
s t iffe n
la r g e
o f th is
o r
fir m n e s s
th e
th e
c o m p lic a tio n s
o rd e r
n e a r fu tu r e .
o f
t im e
n o t
co tto n
s h ip m e n ts
u p o n
T h e re fo r e ,
p ro n o u n ce d
fo r
h a v e
n o
a s p e c u la t iv e
b u t
th e
B e r lin
in
so
m o n th ,
y e a r,
g ra v e
sa m e
tra n sa cte d
d u r in g
h ea d
m a y
s a tis fa c to r y .
le s t
th e
c a lc u la t io n s
b ro a d e n s.
g rea ter
in
th e
are
o f
d is a p p o in tin g
c a lc u la t e d
m a rk e t
lo o k
b a n k in g
im p a r t
is
t im e
th e
m itte d ly
is s u e
a t
to
th e
D e p a rt
th ro u g h
o ffe r
la te r
o f
p la n s .
ra n ge
4 % % ;
s t r iv in g
th e y
su ch
lit t le
fa v o r
a n y
a t
N o
r e s tr ic te d ,
to
fa ir ly
s u p p lie d ,
n a rro w , a n d
n o t
s in c e
u p set
v e ry
s t ill
as
a
th e
th e r e fo r e ,
e x p ressed
r e a d ily
b e
sto ck s
tio n ,
b e
c o n t in u e
a n g le s ,
e n t a ilin g
in
a t
o f th e
d ra w n .
b u s in e s s
o f
d e p a rtm e n ts
g o ld
b ills ;
d u ln e s s
th is
o ffe r in g s
h a d
e x p e r ie n c e d
th e
e x p e rts
cu rren t
a g o , a n d
m a rk e t
tested
o u t flo w
in
o f
w ea k n ess
a n
T re a su ry
m a d e
a b s o r p tio n
a ll
reg a rd ed
e n g in e e r e d ,
th a n
b e
u n d e r w r ite r s
fro m
m a y
ch a n ces
u s u a lly
in d ic a tio n s
n o r
o f
o f
th e
so m e w h a t
w h o
n e e d e d
th a t
in d e e d ,
a g a in
o f
is
e v id e n c e s
th a t
e x p e c t a t io n s , w h ile t h e
b ills a r e b e in g
v o lu m e
o r
to
p r o v in g
T h e
th e
is
c o n tin u a n c e
u p
e x ch a n g e
s u p p lie s
b id d in g
h as
d is
a re
in
fin a n c e
in te r e s t
n o t
p resen t
T h e
m o n e y
s e c u r it ie s
o f
in v e s t m e n t
V ie w in g
o u tlo o k
th e
a n d
h a v e
in flo w
th e
y e a r.
m a y
u p on
tim id ity
th e
a n
la r g e
th e
ca sh
g r a in
b u t
tru th
th e
c o m in g
d e a le r s
r e m a in e d
m o v e m e n t
it w a s a m o n t h
b o n d s
d em a n d s
ra tes
w it h
to
p a p e r
o f
d iv id e n d s
p o s s ib le
Y o r k ;
co m e ,
la te r
a m o u n t
o f
T h e
d e s p ite
are n o t
re
it is r e a s o n a b l e t o l o o k
o f
n e ith e r
m e n t is b e t t e r o f f t h a n
T h e
a
cu r
s h ip m e n ts
c o m m e r c ia l
e x ch a n g e
d is c u s s io n
th ere
fo rm
o f
w a s
h a s
b ills ,
W e st
th e
fir m n e s s ,
c o n v in c in g .
so,
fo r
tra n s fe r
b o r r o w in g
o f
th e
8 1 0 0 ,0 0 0 )
g o ld
h e a v y
th e
F o r e ig n
u p
are
o f
fro m
s u s ta in e d
w e e k ly
n o rm a l
s m a ll
n o
d is c o u n t in g
retu rn
p a y m e n ts.
th e
o n e
(in v o lv in g
a r a th e r s m a ll s c a le , a n d
som e
e ith e r
o n ly
O r le a n s
th e re
lig h t,
ra th er
o n ly
b e tte r
b e e n
p a rt
h as
N o t
a
B a n k
re n cy
w eek
th e
m o n th s 7a c c o m m o d a tio n
h a v e
fir s t
p re
d u r in g
s ix
p resen t
a n y
h a d
a n d
m o v e m e n ts
b e lo w
sh ow n
p e rso n s
911
r e s p o n s ib le
fo r
th e
Received by
Shipped by
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6 5 3 ,0 0 0
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$ 3 ,1 7 3 ,0 0 0
912
THE CHRONICLE
W ith
as
th e
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o p e r a tio n s
th e
r e s u lt
is
fo llo w s .
It
Into
Banks.
Week ending Oct. 7 1 9 1 0 .
B a n k s ’ I n t e r io r m o v e m e n t , a s a b o v e .
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$ 7 ,4 2 7 ,0 0 0
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T o t a l g o ld a n d l e g a l - t e n d e r s ..............
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fo llo w in g
th e
p r in c ip a l
ta b le
in d ic a te s
E u ro p e a n
Gold.
a m o u n t
C h a ir m a n
S 5 , 8 7 3 ,0 0 0
Total.
b u llio n
Silver.
1
Total.
1
£
£
3 4 ,9 1 3 ,3 4 0
3 5 , 9 1 1 , 4 8 0 1 8 0 ,7 0 4 ,5 6 0
1 1 ,4 6 2 ,1 0 0 4 5 ,5 8 7 ,8 0 0
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1 2 .2 7 9 .0 0 0 6 9 .6 9 5 .0 0 0
3 1 .6 2 1 .0 0 0 4 7 .6 7 1 .0 0 0
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2 ,0 8 1 ,6 6 7
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4 .3 8 2 .0 0 0
4 .9 4 0 .0 0 0
1 .7 2 7 .0 0 0
T o t a l w e e k 4 8 5 ,5 2 9 ,9 8 9 1 0 5 ,9 7 2 ,9 2 3 5 9 1 ,5 0 2 ,9 1 2 4 8 2 ,9 5 2 ,4 5 3 1 0 7 ,8 5 6 ,2 4 7 5 9 0 ,8 0 8 ,7 0 0
P r e v . w e e k 4 9 4 ,0 2 1 ,2 2 7 1 0 6 ,8 4 1 ,9 0 3 6 0 0 ,8 6 3 ,1 3 0 4 8 5 ,8 2 0 ,6 6 8 1 0 9 ,3 6 9 ,4 7 0 5 9 5 ,1 9 0 ,1 3 8
a T h e t o t a l o f g o ld in t h e B a n k o f R u s s i a I n c lu d e s t h e b a l a n c e h e ld a b r o a d — t h a t
f s , t h e a m o u n t h e ld f o r R u s s i a n a c c o u n t In o t h e r C o n t i n e n t a l b a n k s .
T h e p ro p o r
t io n s o h e ld a n d c o n s e q u e n t l y d u p l i c a t e d In t h e a b o v e s t a t e m e n t Is a b o u t o n e - e ig h t h
o f th e t o t a l t h is y e a r , a g a in s t a b o u t o n e - te n th a y e a r a g o .
b T h e A u s t r o - H u n g a r i a n B a n k s t a t e m e n t is n o w Is s u e d In K r o n e n a n d H e ll e r
In ste a d o f G u ld e n a n d K r e u t z e r .
T h e r e d u c tio n o f th e f o r m e r c u r r e n c y to s t e r lin g
P o u n d s w a s b y c o n s id e r in g t h e G u l d e n t o h a v e t h e v a l u e o f 8 0 c e n t s .
A s th e
K r o n e n h a s r e a l l y n o g r e a t e r v a l u e t h a n 2 0 c e n t s , o u r c a b l e c o r r e s p o n d e n t In L o n
d o n , In o r d e r t o r e d u c e K r o n e n t o P o u n d s , h a s a l t e r e d t h e b a s i s o f c o n v e r s io n b y
d i v i d i n g t h e a m o u n t o f K r o n e n b y 24 I n s t e a d o f 2 0 .
d T h e d i v i s i o n ( b e t w e e n g o ld a n d s i l v e r ) g i v e n In o u r t a b l e o f c o i n a n d b u ll io n In
t h e B a n k s o f I t a l y a n d B e l g i u m Is m a d e f r o m t h e b e s t e s t i m a t e s w e a r e a b l e t o o b t a in ;
i t Is n o t c l a i m e d t o b e a c c u r a t e , a s t h e b a n k s m a k e n o d i s t i n c t i o n In t h e i r w e e k l y
r e t u r n s , m e r e l y r e p o r t in g t h e t o t a l g o ld a n d s i l v e r ; b u t w e b e l i e v e t h e d i v i s i o n w e
m a k e Is a c l o s e a p p r o x i m a t i o n .
th e
a
th is
p a rty
p la tfo r m s
n o m in a t io n s
o f
p a r t ic u la r
N ew
o f
th is
In
S ta te
o n
o th e r
o n
th e
h a n d ,
to
b e
a
n a tio n a l
u p ,
th e
o f
fo r
N ew
p a y s
Y o r k ,
p o litic s ,
h as
o f
th e m s e lv e s ,
r e s u lts
a t
w h ic h
th e
are
S ta te
d u r in g
th e
189 0,
w h en
th e
d iv id e d
c h a o tic
in to
o p p o s itio n
In
o f
c o n flic t
Y o r k
o n
s a id
th a t
th e
g r a tify in g .
h ig h
s o -c a lle d
a
“ fla g r a n t
e n a cte d
it;
r u p tio n ,
a n d ,
in
M r.
its
o w n
a tta ck s
y e a rs”
u p on
in
th e
tr a d itio n a l
e v e
th e
o f
R e p u b lic a n
o f
le a d e r s
o n e
g o v e r n o r s h ip
o f
c o n s id e r a b le
M r.
b o th
w e e k ’s
p la c e d
is
a
th e
to
o f
fr o m
p a th s
o f
th ese
tw o
a ssu red
h as b e e n
its
r a p id
d e lu s io n s
p o lit ic a l
s a n ity
c a n d id a te s ,
o f
a
G o v e r n o r s h ip ,
th e
in
o f
a
a n d
a n d
p a rty
to
y e a rs
co m m o n
c o n s e r v a tiv e
c o n s e r v a t iv e
w h ic h e v e r
d o ze n
o f
S tim s o n ,
h ig h
p e r
n o m in e e ,
th e
a g o
p a r ty ’s
to
sen se.
c it iz e n
th e
W ith
m a y
o f
b e
th e
a
o ffic e s
o f
o f
U n d o u b te d ly ,
p a red
a n d
B u t
R o ch e ste r,
w e a r ie d
a n d
b y
a
fa r
n o m in a tio n
u n a v o id a b le
e v e ry
T h is
o f
sta te
n o m in a t io n s ,
s to ry ,
d e n tia l
th e
tio n
to
a ffa ir s ,
is
b y
th e
w h ic h
s o -c a lle d
in
so m e
w a s
h a s
fa r
w ith
a n x io u s
g et
it
is
le d
th is
to
S ta tes.
p ressed
y ea rs
o f
h is
th ese
p r o v is io n s
b y
b e e n
is
a
v e ry
V ic e -P r e s i
im m e n s e
a
se co n d a ry
It
th e
o f
p ro p o se d .
th e
p o litic s '
lit t le
th e
T h e
e n d o rse m e n t
o ffic ia lly
b y
fo u n d
a fte r
e ffe c te d .
r e p e a te d ly
fo r
a n d
p o s s ib ilit ie s
b e e n
v o te
e x ce p t
o f
s e t t le d
a c c la m a
to
en d
th e
h o m e .
p h a se
so
T h is
fa ile d
in
o u r
ch a n g e
in
H u g h es
T h e
th e
p o lit ic a l
an
a sy ste m
G o v e rn o r
a d m in is tr a tio n .
o f
g en era l
d ir e c t n o m in a t io n s ,
o th e r
c o n tr o l,
e x h a u s tio n
y e a rs,
p r in c ip le ,
c o m
p a r ty ’s
co n fe re n ce s ,
p a rty
th e
h as
th e
S a ra to g a
reg a rd s
in
a ll
c a r e fu lly
h u r r ie d
as
n ew
o ffic e ,
d e le g a te s
U n d o u b te d ly ,
la w
so
co n
a ffa ir .
a ll-n ig h t
h a d
w a s,
th ese
th e
c o n v e n tio n ,
lik e
P r e s id e n tia l
th a t
a n d
o f
C o m p
a ll
ea ch
c a n d id a te
n o th in g
h a p p y -th o u g h t
p r o c e e d in g s
m e n t
r e s u lt
o th e r
n o m in a t io n ,
a tta c h in g
o n
in
s e s s io n s ,
in
p o lit ic a l
o f
in
a t
th a t
b y
p la c e s
a n d
h a p h a za rd
b o th
e ffe c t
s o m e t h in g
d is lik e d
u n k n o w n
a n d
o n e
th e
n o m in
in c lu d e
b een
d is
o n
in
co n ce rn e d
so m e
q u e s tio n s
o f
p r a c tic a lly
o ld
th e
p la c e d
s e le c tio n
h a d
b y
o ffic e s
E n g in e e r
a n d
th a t,
p la tfo r m s ,
fille d
as
o f th e se
fa c t
th e G o v e r n o r
fin a n c ia l
te s tim o n y ,
to
o v e r
sta te
G o v e r n o r s h ip
q u ite
th e
w as
th e
a n o th e r
th e
n a m es
p ro tra cte d
d is p u te s
in
th e
w it h h e ld .
b y
w it h
th e
e x p r e s s ly
r e s u lt
fr e q u e n tly
S ta te
so
c o n s id e r e d
a rc
m in o r
th u s
fa ct,
w a s,
n o t
th e
b een
e n o rm o u s
o ffic e s
m a tte r
on
o r
a rc
e m p h a s is
b a s in g
th e
rea son
co r
p a rty ;
o f
c a m p a ig n
v e n t io n s th e m s e lv e s , a h a s t y
p r o m in e n c e
a d m in is tr a tio n
w in s .
c it iz e n
a d m in is te r
D e m o c r a tic
p r o p o r t io n
is
its
p r o fe s s io n a l
is a w e l l - k n o w n m a n o f a f fa ir s , w h o s e r is e t o
h is p a r t y
in
b e
o f
M r.
a c h ie v e m e n t
D ix ,
m u st
h ea d
a
o ffic e .
la w y e r
th e
p a r tie s
it
th e
n o m in a t io n ,
th e
o f
th e
le g is la t iv e
p o w e rs
h a v e
th e y
th e
c a n d id a te s
c o u n c ils .
th e
w h o
T a r iff
w h ic h
r e -a ffir m a tio n
e x p ressed
o v e r
th e
p a rty
g re a te st
im p re s s e d
th e
o n e
su ch
as
A s
at
o n
fo r
Y e t
c o m m a n d in g
o th e r
m en
v o te rs,
life .
an d
c o n v e n tio n s
at
b e s a fe ly t r u s te d
n o m in e e ,
ch a ra cte r.
o f
n o t
th e
a n d
g en era l
W h e re
w as
a n o th e r
a n d
n o m in a t io n s ,
la s t
h as
r e s p o n s ib ilitie s
d is tin c tio n ,
retu rn
1882
a tta ck
p o s s ib ility ,
th e
p a rty
s ta n d in g , w h o c o u ld
th e
p u b lic
its e lf
r e s u lt
E a ch
g re a t
in
th is
p a r tic u la r
th e ir jo in t
t ic k e t s .-
is
t a r iff
D e m o c r a tic
th e
G o v e rn m e n t
h as b een
a n d
fu tu re
N a t io n a lis m ” ,
co m m e n t
is
fro m
190 9,
d o m in a n t
th e
th a t
o f
o n e
w it h
stro n g
F ed era l
n o m in a t io n s
a p p o in tm e n t
o n ly
in
th e
a fte r s a tis fa c tio n
s h ip
a
b y
th e
“ N ew
p r in c ip le
c o n v e n tio n s ,
tr o lle r .
n eed
o n
g en era l ru n
th e
p o lit ic s
in
to
th e
a rc
r e s u lts
a tta ck s
fo r
d o w n
b la m e s
s o -c a lle d
p o s itio n
fa it h ”
h u n t
it
p a r t ic u la r ,
o f
to
w h ic h
R o o s e v e lt ’s
w it h in
to
b re a ch
p r o m is e s
fo r
p r o p o s it io n
o f
T h e
as
A d
G o v e rn o r
c o r r u p tio n
L a w
a tta ck s
o f
u n e x p e cte d
d r iv e
T a r iff
e x p e cte d ,
A c t
T a ft
r e t ir in g
s c h e d u le s .
p a tro n a g e
O n e
p a rty
p a rty
th a n
to
th e
su m m e d
th e
w as
a rc
s o m e t im e s
“ la n d s lid e
w h ose
b itte r
a m o n g
th e
th e
son a l
o f
d o m in a n t
th is
N e w
tic k e t,
le a d in g
to
to
b e
o f
a d v a n ce
B r ie fly
en d orses
t r ib u te
to
p re tty
d e le g a te s w h o s u p p o r te d
in d iv id u a l
as
M r.
m o st
in
b y
p o litic s
co n te sts
r e je c t e d ,
r e v is io n
p la tfo r m ,
a tio n
th a t,
b een
P r e s id e n t’s
som e
th e
h as
th e
th e
O n
e m b o d y in g
en d orses
in flu
p o litic s
S ta te
u n fo r tu n a te .
c o n d itio n
le s s
o f
o f
g rea t
p a rty .
v ie w
v is ib le
v io le n t
a n d
a c tio n
e ls e w h e r e .
Y o r k
fr e q u e n tly
fa c tio n s
s c a r c e ly
th e
o f
p o litic a l
im p o rta n ce
e x e rts
tr a d itio n
N ew
b y
d is tin c tly
th e
w ere
a
so rt,
c o n v e n tio n s ,
r e c a ll
a n d
m o v e m e n t
d is t in g u is h e d
p a r tie s
p o lit ic a l
c a m p a ig n ,
b e co m e
th is
g re a t
e v e n ts
stren u ou s
it
th e
b y
N o th in g
In d e e d ,
p r o m is e s
r e g u la r
a d v o ca te d
c h a ir m a n s h ip .
a p p ro v e s
th e
e n d o rse m e n t
p la tfo r m
p la tfo r m
a
to
co n
te m p o ra ry
sp eech es.
d is tin c tly
th e
R e p u b lic a n
m in is t r a t io n ,
S ta te
w as
u p
d o c t r in e s
a
its
o f
m en .
R e p u b lic a n
a g a in s t
its e lf
c o n v e n tio n , b }r th e v e r y
R o o s e v e lt
In
c o n v e n tio n
a lw a y s
o f
a tte n tio n
p o lit ic a l
it
are
y e a r
th e
p a rty
co n te st
o f th e
tw o
th e
S ta te
a
o f
a ttra cts
o c c a s io n s
a p t
in
v ie w
in
c o n v e n tio n s
e n ce
Y o r k
in te r e s t
c o n d itio n s .
a n d
th a t
th e
W e ste rn
o ccu rre d .
d e c la r a tio n s
c o n s e r v a tiv e
R o o s e v e lt
d e c la r a tio n s
d e le g a te d
T h e
r a d ic a l
to
th a t
g iv e
recen t
h in te d
M r.
p la tfo r m
M r.
v ig o r o u s
h is
sort
id e a
w o u ld
e x t r e m e ly
in
th e
th e se
Y O R K S T A T E P O LITIC AL
CO N V EN TIO N S.
som e
a fte r
R o o s e v e lt
th a t
s a tis fa c to r y
e le c te d
n o m in e e ,
c o n s titu tio n a l
T IIE N E W
s a id
are
b e e n
d e fin it e ly
Oct. 7 1 9 0 9 .
Gold.
1
£
£
£
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3 3 ,6 4 1 ,4 4 0 1 6 7 ,6 2 8 ,3 6 0 1 4 4 ,7 9 3 ,0 8 0
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7 .2 4 7 .0 0 0 1 5 2 .6 3 6 ,0 0 0 1 3 2 ,6 0 7 ,0 0 0
1 2 .5 0 5 .0 0 0 6 8 .0 4 3 .0 0 0 5 7 .4 1 6 .0 0 0
3 1 .0 0 6 .0 0 0 4 7 .3 5 9 .0 0 0 1 6 .0 5 0 .0 0 0
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A u s .- I I u n b 5 5 .5 3 8 .0 0 0
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I t a l y d _ ._ 3 8 .5 0 6 .0 0 0
N e t h l a n d s 1 0 .0 6 7 .0 0 0
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5 ,3 2 6 ,6 6 7
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b e
h a v in g
p a rty
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j
Silver.
h a d
v e n tio n ,
$ 3 ,1 7 3 ,0 0 0
2 ,7 0 0 ,0 0 0
b a n k s.
Oct. 6 1 9 1 0 .
Banks of
th e
a ls o
p a r tie s
T h e re
o f
T h e
in
m a y
b o th
[V O L . L X X X X I .
b ill
recen t
e ffo r t
a lr e a d y
ou r
m o v e
a t
th e
a d o p te d
n o m in a t io n
d u r in g
w h ic h
th e
la te r
e m b o d ie s
s e s s io n
o f
th e
L e g is la tu r e ,
w a y ,
it
p ro p o se d
s a id
is
w o rth
th a t
o r ig in a l
b a se d
th a t
n e x t
it
b e
a n
su p p o rte rs,
v o te r
b u t
m a y
h e
e le c tio n
th e
in te n d e d
so
fa r
as
o f
ea ch
g en era l
w h ic h
in
h e
a
co n ce rn e d
th e
d is tr ic t
T h e se
a t
p e titio n s
w h ic h
T u e sd a y
b e fo re
th e
su ch
la s t
p r e c e d in g
w ere
p r im a r y ,
o n
th e
to
w as
in d e p e n d e n t
w h ic h
c a n d id a te s ,
w a s
to
an
ch o o se
t ic k e t
fo r
E a ch
c a lle d
in g
it
v o te ,
p rm a ry
o f
w as
b e h a lf
o f
d ir e ctly
e le c tin g
le g is la tio n
in
T h e
w id e
d ir e c t
r ig h t
to
n o m in a te
c o m m its
a p p ea rs
in
th e
b e e n
fra n k
w h ic h
in
o u g h t
m o v e d
b e fo r e
q u e s tio n s
u n fa ir
v o te s
T o
o f
b y
B u t
fin a l
a n d
th ese
th e
th e
w h o le
s in c e
Y o r k
is
m o v in g
e x p e r ie n c e
o f
im p o rta n t
a n d
m a k in g
fa cts
b e fo r e
d ir e c t
te st
u p
la w .
co n tro l
o f
b e
fro m
lo s t
re g re tte d
to
th e
in
d ir e c t
m in d
w h a t
o n
y e t
m a tte r,
o f
th e
its e lf
to
b e
re
T h e
p o s s ib ilit ie s
b e
th e
to
th e
is
c o m m ittin g
p o p u la r
o b je c tio n s
d eg ree
is
b y
n o
a
h ig h ly
th a t
th e
la r g e ly
e x c e lle n t
it
is
fin a l
th e
d u r in g
th e
as
is
in
fa v o r a b le
s h o w in g
in
its
m o n th s e n d in g J u n e 3 0
in c o m e
o th e r
th e
la r g e
e q u a lly
m o n th s.
m o st
b y
sy stem s
in
th e
is
re p o rt
co u n try
fo r
d u e ,
e x p a n s io n
fo r
M e a s u r in g
r e q u ir e m e n ts ,
e x h ib it
r e s u lt
n o te w o rth y
1910.
d iv id e n d
fa v o r a b le
T h e
a n n u a l
o n
in
th e
th e
tw e lv e
a v a ila b le
th e re
are
ca n
m a k e
th a t
th is
m a r v e lo u s ly
p e r io d
o f
on e
h a n d ,
th e
tr a ffic
a n d
fe w
an
tw e lv e
to
a
rev en u es,
is
a n d
6 5 .2 2 %
g ross
e a r n in g s
a
in
b een
lit t le
o v e r
th e
r a tio
ta x e s,
th e
w as
p r e v io u s
is
s h o u ld
th e
tw e lv e
S o u th
th e
b e
u n d er
v e ry
1909.
w o n d e r fu l
b y
th e
fa c ili
p ro m o te
e x tra
th e
e ith e r ,
ir o n
b u s in e s s
r e v ie w
w as
su ch
b e n e fits
fo rg o tte n ,
w ith
w h ere
h a v e
o f
lib e r a l
to
c o n n e c tin g
m o n th s
th e
m ore
th e
sea son
d e r iv in g
S o u th ,
o f
N a s h v ille ,
a n d
n o t
th e
m u st
e n jo y in g
&
m u ch
tu rn
is
th a t
b eca u se
in
d o in g
in
lin e s
o f
o ff
r a is e d
fu r n is h in g
is
It
h as
fa llin g
L o u is v ille
is
th e
in d ic a te d
b y
It
m o d e ra te
re co v e ry ,
$ 4 5 ,4 2 5 ,8 9 1 .
fro m
a ls o
m a d e
in
n o te w o rth y
tru e
an d
a c t iv it y
u n u s u a lly
th a t
to
a
in
a ll
w h en
fro m
th is
is
w a s
in
th e
m o n th s
gross
is t h a t
a v e ra g e
b e
in d e e d ,
ch a n g e
a n
th e
m ile
th a n
th e
roa d
B u t
is
it d id
in
w h ile
w a s
It
b e in g
th a t
w as
la r g e
h e lp fu l
a
th a t
ra tes— b u t
e n a b lin g
in
in
th e
tw e lv e
o f
in
fre ig h t
a p p ea rs
th e
d e c lin e
o f
b u lk y
th a t
ta k e
n o t
d e c lin in g
a n d
p e r
F o r
m ills
m ills
th e
m a x i
d o e s
le s s
b a ck .
7 .5 1
7 .7 9
o f
th a t
i t s e l f is
w h ile
o f
d e c lin e
p r o p o r t io n
e x p a n s io n
in
o f
N a s h v ille
b e
a
th e
th e g a in o f o v e r
te n d e n cy
th e
o n ly
a n d
e x ce ss
p r e v io u s
fa ce
&
to
u p w a rd
le a v e s
p e r io d
c o n s id e r a b le
a sh o rt
1 9 0 8 -0 9
th e
in
m a y
a v era g e
r e a liz in g
o n ly
to
b u t
a d v a n ce d
c a r r ie d — th o s e
lo w
th e
in
s in g le
w a s
n e v e r th e le s s
th e
T h e
in
v e ry
o b ta in e d
7 .6 3
rev en u es
a
L o u is v ille
in c r e a s e
o n ly
fa c t
a v era g e
a g a in s t
th e
fr e ig h ts
b ea r
th a t
m a d e
b een
d o w n w a rd .
fro m
th e
h as
o n
s t e a d ily
w ill
in
r a te s ’ r e c e iv e d .
lo w -c la s s
a n d
it
rev en u es
in
$ 4 4 ,
o n ly
g rea t
in c r e a s e
W h a t le n d s a d d it io n a l s ig n ific a n c e
1 5 %
th ere
th e
$ 4 ,0 0 0 ,0 0 0
w h ic h
to
r is in g
g r o s s e a r n in g s
as
o v e r
$ 4 8 ,2 6 3 ,9 4 5
1 9 0 8 -0 9
th is ,
lik e
se tb a ck ,
d ro p p e d
$ 5 2 ,4 3 3 ,3 8 2 ,
1 9 0 6 -0 7 .
ro a d ,
s e r io u s
e a r n in g s
fo r
1 9 0 9 -1 0 ,
g ross
fo r
1 9 0 7 , th e
1 9 0 7 -0 8
g ross
a c h ie v e m e n t,
th e
o f
th a t
in
A llo w in g
$ 4 5 ,4 2 5 ,8 9 1
o f
fa c t
e a r n in g s
is
p a n ic
e x p e r ie n c e d
th e
6 2 0 ,2 8 1 .
s t r id e s
th e
S o u th ,
g ro ss
or
a
it
1 9 0 6 -0 7
fo llo w s
SH O W IN G .
th e
O f c o u r s e , fo llo w in g
o th e rs
to
L O U I S V I L L E & N A S H V I L L E ’S E X C E L L E N T
th a n
h as
th a t
c o u n tin g
s h ip m e n ts
h a n d ,.t h e
sa m e.
m u m .
o f
o n ly
&
s h o w in g
n et
n o t
th e
s ta p le
a n d
roa d
th e
sch em e
is
in
g ross
sta te d
h as
L o u is v ille
in
in
b e
th a t
p ro n o u n ce d .
th e
N a s h v ille R R . m a k e s
th a t
d is tr ic ts
ra tes,
&
o f
p r o v id in g ,
a g g reg a te
a s c e r ta in e d
th e
a g a in s t
in
o f
co tto n
s e r v ic e
th e
steel
e x p e r im e n t,
ot
n et
b e
s h o u ld
roa d s
g a in
in
to
y e a r,
v ie w
o th e r
th e
n o m in a t io n s .
T h e L o u is v ille
in
cro p
to ta l
N ew
w a tc h in g
q u ite
a n y
s ig h t.
p r in c ip le .
in
p r im a r y
b a s is
o f
p r im a r y
is
u n d e r ly in g
S ta tes
its
h a v e
as
n o t
us
fa v o r
is
in
m a d e
to
o f
g a in
e x p a n s io n
d e v e lo p m e n t,
m e r e ly
w a r m ly
c o n s id e r a t io n s
a n d
la r g e
th e
th a t
b e e n
q u e s tio n
s lo w ly
o th e r
fir s t
n e v e r
la te
o ccu rre d
fro m
w h ic h
p o s s ib le
c o n c e iv a b le
it
b u t
o f
a ls o
o f
o th e r
b u t
$ 7 ,0 0 7 ,4 9 1 ,
It
a d d itio n
in c r e a s e
r a tio
e a r n in g s ,
th e
in
t ie s
m o v e m e n t
o f
to
o f
s m a lle r
th e
r a t io
n o te w o rth y
p la n k s
tw o
h as
m o st
e x p e r ie n c e
fo r
1 9 0 8 -0 9 ,
th a n
c o n s id e r a b le
th a t
e a r n in g s ,
e x p en ses
fo r
n e t.
th e
a
n et
fa c e
w o u ld
co st.
le s s
lik e
in
th ere
th e
th a n
in
e x p e r ie n c e
th a t
o p e r a tin g
n e t,
d e v e lo p m e n t,
p la n ,
p r im a r ie s ,
g en era l
e x p e r im e n ta l s ta g e ,
th e
a n d
th ese
p o s s ib le
o ffs e t t in g
r e je c t
S ta te
to
n o
to
r e c e ip ts
y e a r.
O n
la w .”
of
ex p en ses
s m a ll
p e o p le
T h is
w h o
s h o u ld
a n d
c o m m itte e s
c r tic is m ,
e n a ctm e n t
d e m a g o g u e s,
to
o f
sev era l
o f
in
b r ie f,
th e
b e e n
o p e r a tin g
h e a v ie r
th e
w h ile
g ross
r e c e ip t s
a d d
N a s h v ille
m a n a g ed
n o t w it h s t a n d in g
h a s
8 1 ,6 4 9 ,4 1 2
d eserv es
fo r
in
&
it
in
n e t,
b een
th e
It
T h e
“ w e p r o m is e
in to
1 5 % ,
1 0 % .
R e p u b lic a n
th e
n o m in a tio n
la r g e s t
its e lf
co n ce rn
e ffo r ts
F o r,
6 6 .7 2 %
o ffic e .”
d e fin it e
th o se
e x p e n se
r e c o g n iz e
m ea n s
o v e r
a ctu a l
fe lt
fa v o r
to
p r in c ip le .
d ir e ct
e n r o llm e n t ,
a
a d v erse
th e
n o n
c a n d id a te s
“ in
n e ith e r
c o n c e d in g
to
T h e
p o lit ic a l
p u b lic
to
E v e n
th e
w eek
p r in c ip le s
en su re
o f
fo r
som e
u n ju s t .
p r in c ip le
tin ;
to
h a s
p r o p o r tio n a te ly
gross.
to
in c r e a s e d
o f
d e s p ite
m a d e
N a s h v ille
to
g a in
th a t
b e e n
p r im a r ie s
a p la n k
p a rty
th e se
to
th a t
g en era l
o f
n o te d
a
in
g ross
in
8 5 ,3 5 8 ,0 7 9
e a r n in g s
le ft
to
r is e
r e s u lts
g a in
sy ste m s
le ft
g rea t
th e
o f its
as
e x p e n s e s ; w h ile
la r g e
n o th in g
w ere
g ross
th is
w o u ld
m ore
H u g h e s’s
d e c la r e s
m e m b e rs
o b se rv e d
s u b je c t
la s t
o ffic e r s , s ta te s th a t
its e lf p o s it iv e ly
r e c o g n iz e s
th e
o f
m o v e m e n t.
e n a ct
p r im a r ie s ,
b e
th e
as
in
L o u is v ille
in a s m u c h
in c re a s e
a d d it io n s
th e
S ta tin g
1 9 0 9 -1 0
a n y
b ill
o r
to
o f th e
p o r tio n
a n
o th e r
la r g e
lit t le
o w in g
o f
n o m in a t in g
c a n d id a te s
w ill
o r
o f
its p la t fo r m
p la tfo r m
ch o o se
o n e
b e
d ir e c t
th is
n o m in e e s
G o v e rn o r
w ill
D e m o c r a tic
It
to
p a rty
w h ic h
as
v o te
v a r io u s
b y
in
b y
y ie ld
m a n y
a fu r th e r a d v a n c e in o p e r a t in g
u n iq u e ,
a u g m e n ta tio n
v e ry
S ta te
re sp e ct
to
o f
y o a i,
p r im a r y
as
to
p o s itio n
c o n s id e r a b le
o f
th e
s e le c te d
a
la r g e
th e
to
T h e
a n y
so
sev en th
a d d itio n
th e
c o n v e n tio n s
d ir e ctly
b e fo r e
th e o th e r h a n d
o f
e le c tio n .
e m b o d y
r e fe r r in g
p a rty
P r e s id e n tia l
b e
a
e le c tio n .
th e
p e titio n ,
w e ll
T h e
th is d ir e c t n o m in a t io n
p la tfo r m ,
o n
In
to
as
th e se
tw o
to
a
th a t
o ffic ia l
th e
d a y s
e m p o w e re d
so
p e n d in g
th e
u p o n
in
b y
w as
t ic k e t s .
fro m
th e
h e ld
M a rch .
its e lf
p a rty
b e fo re
th ir ty
b e
n o m in a t io n
n o m in a te
o ffic ia l
o r,
in
in d iv id u a l
h a v e
to
p r o v is io n ,
ca st b y
so
th e
p e titio n s
G o v e r n o r s h ip
file d
e le c tio n
T u e sd a y
C o m m itte e ,
b e
its e lf
a t
in
sa v e
h im s e lf.
b y
g en era l
is
q u a lifie d
e n r o lle d
o n
e ffic ie n c y .
p a r ty ’s
su p p o rt
fo r
a n d
g en era l
m ea su re
o f
o n e -h a lf o f o n e p e r ce n t o f th e v o te
th a t
a
d e c la r a t io n
to
p a rty
In
H in m a n -G r e e n
e n r o llm e n t
o n
th e
r e v ie w in g .
th is
I n d iv id u a l n o m in a t io n s w e re t o b e e ffe c te d
s ig n e d ,
913
THE CHRONICLE
O d V 8 191 0 .J
p er
to n
p er
1 9 0 9 -1 0
to n
m ile ,
1 9 0 7 -0 8 .
tr a ffic
a n d
in
co m p a n y
to
914
m a k e
th e
THE CHRONICLE
a s a tis fa c to r y y ie ld
g o o d
o p e r a tin g
a c h ie v e m e n t.
m o n th s
In
a c c o m p lis h e d
th e
th e n
in
1 9 0 9 -1 0
69 4
th e
a g a in s t
to n
m ile s ,
b y
m ile s r u n
crea sed
b e ca u se
2 4 ,4 0 3 ,9 5 2
.o f
to n s
to
o n e
r is in g
fro m
In
w o rd s,
o th e r
o n e
m ile
ru n
b y
It
o v e r
th e
fo llo w s ,
tio n
to
to n s,
th e
o f
a g a in s t
in
ea rn ed
$2
82
263
m o re
d e c lin e
0 9
p e r
in
th e
n e t e a r n in g s
th e
lo w e r
fe ll
p e r
fr o m
to n
m ills ,
p e r
y e a r
In
b e ca u se
th e y
m a n n er
th e
th ere
w ere
w h a t
a
a t
fro m
in
in
ea ch
fo r
so
o f
su ch
n o
o w in g
a c c o u n tin g
S ta te
th a t
n o
b e
th e y
O w in g
“ o th e r
4 1 3 ,2 5 6 ,
y e a r
th e
th e n
so
a b o v e
w a s
fix e d
o n ly
th e
b e e n
n et
o f
ch a rg es
a
w as
tim e .
fo r
o n
o n ly
W ith
1 9 0 9 -1 0 ,
h a v e
lib e r a l
s c a le .
in
g ross
h a v e
m a d e
to
th e
e n cro a ch
y e a r.
S o m e
s w e ll t r e a s u r y
w ere
la r g e .
In
fro m
&
h a v e
in d ic a te
w it h
o f
In te r
w h erea s
p re v L
ch a rg es
th a n
w e
in
fo r
$ 1 0 ,
g o
th a t
o p e r a tio n s
$ 2 ,8 2 4 ,4 5 6 .
T h is ,
in
a
s u r p lu s
d iv id e n d s
b e
so ,
b u t
sa m e
th a t
th ere
o n
th e y
m a in
u n d u ly
d o e s
m a in te n a n c e
th e y
is a n
c r itic s
an
re p o rt
ca n n o t
n ot
o u tla y s
b e
a s s u r e d ly
in
p resen t
c o m p a n y ’s
w ere
b een
p r o fit
n ew sp a p er
a n n u a l
a n d
o f
u n d e r
a n d
th e
T h e
lib e r a l,
u n d u ly
is
c e r ta in ly
a cco u n ts,
a
m o st
su ch
w as
u n d er
stru ctu re s
ten a n ce
o n
th e
a n d
s o -c a lle d
m o v in g
o f
th a t
to
s a id
to-
w ere
n o t
fu r th e r
a n
to
a cco u n t
o f
in
o n e
la r g e
a d d it io n s
b e in g
r e c o g n iz e d
o f
n o t
cou rse
fro m
tr a ffic
an d
seem
to
b e
is
p r e c e d in g
a
fu rth e r
to
th ese
y e a r
e co n o m y
in
d e p r e s s io n
h ig h e r
a p p ly
in
p o in t
to
e v id e n t
fro m
to
fro m
3 6 6
th e
ton s
le g it im
t r a n s p o r t a t io n
th ese
fo llo w
e x p a n s io n
co st
th e
in
th e-
a tta in m e n t
o f
ca se
o f
as
in
a
th e
la b o r .
It
th a t
th e
a p p r e c ia te d
th a t
th e
W ords,
re sp e ct,
th e
lo w ,
b o rn e
m a n a g em en t
p r e v a ilin g ,
u n u s u a lly
b e
m a in te n a n c e
o u tla y s w e re r e s tr ic te d
o th e r
th e
is
th e
g rea t
in c r e a s e
th e
m a in
o u tla y s .
T h e re
In
th e
g e n e r a lly
c o n s id e r a t io n s
r e fe r e n c e
w ere
to
m a in
a m o u n tin g
cou rse,
th a t
o f
is
a n d
c o v e r in g
th e
t r a in -lo a d
q u e s tio n s , o f
in
a u g m e n ta tio n
T h e
as
w a y
h ea d
h e a v y ,
o p e r a tio n s ,
a v era g e
w a s
d o w n
in c r e a s e
o f
to ta l
n o tw ith s ta n d in g
it
v o lu m e
te n a n ce
a ls o
cu t
$ 4 ,9 2 2 ,7 2 9
e x p e n s e s ,”
th e
o f
sa m e
N o
th is
$ 6 ,5 7 8 ,8 7 9 .
w as
th e
to n s.
m a tte r
d o e s
in
w ere
th e
th e
th u s
ex p en ses
T h e
o f
u n d e r
m a k in g
a d d e d
$ 9 4 ,2 6 5 ,7 1 6
m a in te n a n c e
“ tr a n s p o r t a t io n
e ffic ie n c y
in c r e a s e
3 8 9
o f
o f th e
w ere
m o n th s
in
e a r n in g s
a n d
$ 1 ,6 5 6 ,1 5 0
$ 5 ,1 4 6 ,9 6 1 — th is , t o o ,
o f
n e t
s tu d y
fro m
tw e lv e
$ 3 5 ,2 3 1 ,3 7 5 .
h ea d
tr a ffic ,
th e
a u g m e n ta tio n
o f e q u ip m e n t,
m a in te n a n c e
c a r e fu l
e a r n in g s
r is in g
fo r
$ 1 2 ,2 6 6 ,6 2 4 ,
th e
a
gross
w a y ,
g a in
th e
m a g n itu d e
fo r
w h ile
s u b s ta n tia l
$ 3 6 ,7 7 0 ,5 2 1
fo u n d
th e
w a rra n t
fo r
$ 1 0 ,7 2 7 ,4 7 8 ,
ex p en ses
a
th e
th e
th e
e x c e s s iv e .
o f
lik e
o f
c r it ic is m s .
m a r g in
S om e
th a t
th e
o f lin e s
u tte ra n ce s h as
th e
a s
r e v ie w
b e ca u se , a t
1 9 0 9 -1 0
c o m
R a ilr o a d .
sy stem
b u s in e s s
to o ,
F e
u n d er
la r g e
a n d
th a t
r a ilr o a d
s c r u t in iz e d
S a n ta
y e a r
th is
ra tes.
S tu d y
a n y
&
h is p u b lic
d u r in g
su ch
b e e n
a cy
fo r
J u ly
th e h a n d s o f th e
c lo s e ly
th e
o n
s a y in g
c o n te n d in g ,
o f
so
w h a t it s h o u ld
o u tla y s
ex p en ses,
c a ll
s u r p lu s
w e n t to
T o p e k a
d u r in g
b e tte r
in
1 9 0 7 -0 8 is
$ 1 0 ,4 1 3 ,2 5 6
fo r
b e e n
te n a n ce
can
th e
is n o t
c a ll
$ 1 0 4 ,9 9 3 ,1 9 4 ,
sy ste m
I f
w e
r e d e m p tio n s
t r a n s p o r t a t io n
to
o p e r a tin g
fin d
fo r
$ 6 6 2 ,0 1 6
$ 8 1 8 ,6 3 2
d u r in g
o r
ex p en ses
in
to
n e t, b u t
tr a n s fo r m a tio n
th e
c o n d it io n s
u rg en t
w as
1 9 0 8 -0 9 .
ch a rg es
w o n d e r fu l
$ 4 ,2 0 0 ,0 0 0 .
in
c e r ta in ly —
fa lle n
d e b t in
re p o rt
p ro n o u n ce d
r a ilr o a d
s im p ly
W e
le s s
in
o u tsp o k e n
ch a n g e
fix e d
n o
b e ca u se
th e
b eca u se
th e
a n n u a l
A tc h is o n
5 .1 0
im p r o v e m e n t
1 9 0 7 -0 8 — w e
fix e d
m o n th s
w as
v e ry
T h e re
in c lu d e d .
som e
a b o v e
1 9 0 9 -1 0
to
so
a n d
so
b e tte rm e n ts
ex p e n se s,
o f
a m u ch
o p e r a tio n
th a t
a n a ly s is
la r g e
b o n d
c a r e fu lly
u n u s u a lly
ex p en se
in c re a s e d ;
b y
m a in
a n d
is
e x p e n se
fo r
to
n ew
o f th e
a u g m e n ta tio n
p er
to
a n d
as
y e a r
o n e
T h a t
so
u n d o u b te d ly
c o m p a r is o n
a
th a t
s u r p lu s
o f
a b o v e
sp a ce
in
$ 7 ,7 2 1 ,3 8 8
r e fle c ts
b r ie f
in
b a c k —
tw e lv e
th a t
a d d itio n s
in
th e
a g a in s t
o b v io u s ly ,
v e ry
g a in
m o n th s
fu r th e r
s u r p lu s
fo r
in v a r ia b ly
th e
in c o m e ,”
tw e lv e
fa ct
C o m m is s io n ;
in c lu d e d
h a d
to
th e
in tro d u c e d
C o m m e rce
o u s ly
o f
w a s
e x p e n d it u r e s
lo n g e r
th e
to
th e
L o u is v ille *
r e s u lts
d ir e c t
w ill t h a t
n o
b e
w ere
t r a in .
th e o p e r a tin g e x p e n s e s o f th e y e a r s p r e c e d in g
p o s s ib le ,
in
tr a in s
to n
u n its .
im p r o v e d
s in c e
im a g in e
w ill
h a v e
ru n
g r e a tly
y e a r ’s
a n d
s im p ly
s ta t is t ic s
W e
p a n y
b e in g
g ross
th e
h o w e v e r,
m ile
th e
w h ile
o u t
th e
m ile
a
$ 2 ,1 5 1 ,0 0 0
b e a r
m ills
to n
p e r
w as
th e
to n s
m ills .
le s s , b o t h
th e
p la y e d ,
2 .4 2
m o re
in to
278
1 9 0 9 -1 0 t h e y
b u t
5 .2 1
p e r
m o re
u n its
m illio n s
sh are
h as
m ills ,
to n s
d
a d d i
th e
p e r
g a in
th e
is
b e in g ,
h a v e
w e re is su e d , b u t t h e y
w a s
1 9 0 8 -0 9
ra te
m a g n itu d e ,
ea rn ed
2 3 4
y e a r,
th ere
in
h a p p en s
c o m p a n y ’s b o n d e d
t im e , P r e s id e n t R i p l e y in
fu r th e r
in
it
a
ra te
m o v
fe ll o ff s lig h t ly , o w in g
e a r n in g s
tr a ffic
le n g th
la r g e
e ffic ie n c y
m o re
la r g e r
u n it
863
th u s
o f
o f
se p a ra te
g o n e
7 .5 1
ea rn ed
n et
00
th a t
W a g es are o n
t im e
fis c a l
r e q u ir e m e n ts
e c o n o m ie s
e a r n in g s
fr e ig h t
a v era g ed
o n ly
la te
T h e
e a r n in g s
c a r r ie d
a
a n y
cu rren t
THE ATC H ISO N TO PEKA & S A N T A F E REPORT.
th e
F o r
$2
m ile
o n ly
t r a in s
o f
n u m b e r o f m ile s
w as
th e
n e t
w e re
n u m b e r
e a ch
In
a g a in s t
863
n o tw ith s ta n d in g
fe ll
a g g re g a te
N a s h v ille
ru n ,
r e a liz e d .
m ills ,
n u m b e r
th a n
to n s
1 9 0 9 -1 0
r e c e iv e d .
to
fro m
n u m b e r
a n d
p e r
in
1 4 % .
fo r
a g a in s t
m ills
o f
tr a in -lo a d ,
1 9 0 7 -0 8 .
p e r to n
th e
le s s
n et
a t
d ecrea sed
b o n d s
a ssets,
w a s
5 ,1 1 9 ,0 3 8 ,8 9 9 .
th e
th ere
th e
th e
n o
to
th e
in
th is
ju m p e d
w h ile
p u b lic
n ew
th e
H e n ce
o r
1 9 0 9 -1 0
fr e ig h t tr a ffic
to n s,
m ile
2 .4 1
b r ie f
m ile ,
In
h ig h e r
ra te
B u t
n ew
d iv id e n d
a n d
n o tw ith s ta n d in g
r e c e ip t s .
o f
1 5 ,3 5 1 ,1 2 9 ,
1 9 0 8 -0 9
m ile
7 .6 3
le a v in g
la te s t
in
s a v in g
m ile s ; b u t
c a r r ie d
th a n
th a t
th is
ra te
th e
a n d
w h ic h
a v e ra g e
to
m ile
to
m ile
o n ly
n u m b e r
le s s
to n s
p e r
th e
p e r
w a s
a
1 9 0 7 -0 8 .
in c re a s e
co u rse ,
O w in g
ea rn ed
b e e n
in c re a s e d
th e
b e h in d ,
T h e
e ffe c te d
a n d
in
fo r
1910
th e
th e
re d u ce d .
lim it .
A u g u st
sh ow s
in
2 3 ^ %
tr a in -lo a d ,
1 9 0 7 -0 8 .
81
t r a in s
th e
fr e ig h t
a n d
th e ir
fo r
s a v in g s
a p p a r e n tly —
re a ch e d
in
th o u g h
o f
1 9 0 7 -0 8 ,
4 ,2 5 5 ,9 8 1 ,3 3 5
th e
lin e s
a n d
a b o v e
to n s
m ile
2 0 % ,
sa m e
h a v e
th a t
a b o v e
b e g r e a tly
s c a le
u p o n .
y e a r
ru n
o f
o v e r
m a k e
a g a in
h ig h e r
ju d g e
m a r g in
h a d
1 7 ,4 8 6 ,6 1 7
w h ile
in c r e a s e d
o f th e
th e y
s h o u ld
th e
w o u ld
b e e n
m ile a g e , t h e n u m b e r o f m ile s
3 0 ,1 5 5 ,2 1 7
c a r r ie d
tw e lv e
S om e
b r ie f,
in
r e v e n u e t r a in s in
to n s
th e
W e
y e a r
m ile , a g a in s t 4 ,0 2 0 ,3 4 8 ,
h a v in g
n u m b e r
y e a r’s
h a d
as
to n s
to n s
th a t
m ile s
m illio n s ,
c a r r ie d
in
r e a c h in g
th e
th e
In
to n s o n e
t r a in s
b y
a g a in ,
a lo n g
in tr a in
1 6 ,3 6 7 ,6 5 9
1 9 0 8 -0 9 .
2 4 ,4 0 3 ,9 5 2
h a d
re v e n u e
a g a in s t
th e
it
fo r
th e
w h a t
r e p e a tin g ,
2 3 ,2 5 6 ,5 0 2
m ile s
o u t
s t r ik in g .
c a r r ie d
e x p la in
re p o rt
in
w o rth
4 ,2 5 5 ,9 8 1 ,3 3 5
o v e r a m illio n
ru n
re sp e ct
are
m o re
h a d
1 9 0 8 -0 9 ,
m o v e d
th a t
th e
p o in te d
a c h ie v e m e n t
a ll
c o m p a n y
w e
g iv e n
fu rth e r
th a t
r e v ie w in g
p r e c e d in g ,
fig u r e s
in n e t , in t h e la s t a n a ly s is i t is
r e s u lts
i'VOL. L X X X X I .
o w in g
a n d
a n d
th e
a
th is
m in d
In
p r a c tic in g
in te n s e
in e v e r y
o u tla y s
le a d s
to
a
in
w ith
th e
g rea t
b u s in e s s
co n se q u e n ce
c u r ta ile d
m a in te n a n c e
a n d
w a s
to
as
in
ch a rg es.
su ch
d ir e c tio n .
th a t
y e a r
s t r ik in g
co n -
O c t . 8 1 9 1 0 .]
tra st
in
as
th e
if
h a v e
th e
c o m p a r is o n
a d d it io n s
b e e n .
fo r
$ 1 7 ,8 0 7 ,1 3 6
co m p a re s
w as
fa c t
th a t
th a t
w a y
a n d
w ith
th is
la tte r
in
in
in c re a s e
o f
9 ,2 7 8
to
e x p a n s io n
th e
n a tu r a lly
a d d s
rea son
th e
■ a ls o
b een
a
b a s is ,
a g a in s t
$ 1 ,3 1 5
a n d
8 1 .6 4 8
n ot
in
seem
a
in
h as
a n d
a n y
in
an
fro m
en o rm o u s
m o v e d
an d
sp en t
(w h ic h
th e
in
o f
o n
a
1 9 0 7 -0 8
d oes
b e a r in g
tr a ffic
a n d
th e
y e a r
p r ic e
th a t
h a d
to
b e
p a id
fo r
la b o r
an d
a ls o
o f
c a p ita l
th e
A
o f
c la s s e s
s im ila r
th e
fe ll
b e
p a id
to
th e
a n d
th e
u p o n
n ow
la te s t
y e a r
e q u ip m e n t
• com p a res
w it h
1 9 0 7 -0 8 .
e a s ily
th e
e x p la in e d
o f
ra tes
o b v io u s
re p o rt.
n o t
fro m
to
I h c
a n d
h a s
to
p io c e e d
o u tla y s .
h as
ately
as
fro m
of
in
roa d
w h ic h
$ 1 ,5 1 3
fo r
fo r
1 9 0 9 -1 0
s lig h t ,a n d
in
w ages
can
a n d
in
a s s e r tin g
to
$ 1 0 7 ,5 4 3 ,2 5 0 .
o v e r
$ 1 3 ,0 0 0 ,0 0 0 ,
as
th e y
c o m p a r a tiv e
th e
o th e r
v ie w
is
th e
th e
its
o f
th e
a n d
tren d
to
n o w
a t
in c lin e d
n ew
c a p ita l
th a t
th e
fin a n c ia l
n eed s,
m a n a g e m e n t.
e c o n o m ic
im p o s s ib ility
o f
co n
a ccu r
o f c u r r e n t e v e n ts , c s p o c ia llv
r a ilr o a d
n ecessa ry
w a y
th a t th e co m p a n y
u n s e ttle d
th e
T e x a s
u n d er
n o tin g
o f th e
e x
c o n s id e r a b le
fu r th e r
p resen t
p o lic y
co u n try
fo ie c a s tin g
to
fo r
th e
b o n d s
W e ste rn
are
a fte r
b e
a d d itio n
$ 4 3 ,9 5 9 ,0 0 0 —
w o rk
in c u r r in g
y e a r.
to
in te r e s ts ,
p ro ce e d
y o u r
w ith
d ir e c to r s
fe e l
c a u tio n , e v e n
th ose
im p r o v e m e n ts
a n d
fr o m
w h ic h
T h e
fo r
p o in t
its
th e
are
to
th a t
a n d
p a id
sh eet
th e
b o n d
in
sh ow s
$ 3 4 ,8 1 4 ,8 9 5
n o w
are
is s u e s .
th e
th a t
o f
n eed s
h as
o f
th e
to
as
m o st
w e lfa r e
as
to
in
e m p h a
ren d er
m o n e y
o n
th e
3 0
it
n ew
$ 3 0 ,2 7 5 ,3 6 7
J u n e
a n d
p r o v is io n
b e
b o n d s,
co m p a n y
h a n d
m a d e
su ch
su m s
B e s id e s
on
are
p u b lic
d eserv es
c o n v e r tib le
th e
cash
th e
n o t
c o n s id e r a b le
o n
o f
w h ic h
d e m a n d e d .”
co m p a n y
fin a n c ia l
p ro cu re
to
b e
s ta n d p o in t
c o n d it io n s
sto ck
e x te n s io n s
im p e r a tiv e ly
p resen t
fo r
a n d
s till
b a la n c e
1910
h a d
b a n k .
th e
A P P L Y IN G E A R N IN G S T O W A R D S
r ig h t
th e
in
th e
a p p lie d
it
tra ck
R ip le y ,
as to
T h e
h as
in
in to
is s u e s
r e m a in e d
c o n v e r tib le
m a n a g e m e n t
in
p r o v is io n
sa y
H o w e v e r,
ea sy
fig u r e
v e ry
s lo w ly
m a d e
.
th e
th e
co m p a n y
se co n d
b u t
tw o
w as
o f
s in c e
r e d u c tio n
th a t
y e a r.
is in e x c e l l e n t c o n d i t i o n , a n d
h a s th is t o
d it io n s
o f
a
d u r in g
s t ill
c o n s tr u c tio n
P r e s id e n t
p i o p e i ty
o u t
o u ts ta n d in g
d e b t
e x ch a n g e d
e x ce p t
fis c a l
th a t th e
m u ch
p o in ts ;
th e
fu n d e d
m is le a d in g ,
in v o lv e d
p u t
a m o u n t
u n d e r
a ls o
v a iio u s
o f
th e
w ere
h a v e
a m o u n t,
sto ck
sh ow s
m ile a g e
m ile
$ 1 ,5 6 9 ,
r e m u n e r a tiv e
o f
in to
rep ort
new
s iz e d ,
o f
o f
b o n d s
w ere
c lo s e
sto ck .
$ 1 5 ,5 6 0 ,0 4 7 .
a n d
th e
is
r is e
is
as
p e r
th e
in
m ea su re
$ 3 0 ,2 7 5 ,3 6 7
ch a n g ed
d o n e .
1 9 0 6 -0 7
in c o m e
■ $ 9 4 ,4 3 6 ,5 7 4
th e
o n e
S in c e
(in c lu d in g
b y
R ip le y
are
u p
th a t
th e
T h ese
$ 1 3 ,9 0 3 ,8 9 7
b e e n
a n d
seen ,
c o n s id e r a t io n
a cco u n t.
1 9 0 8 -0 9
la s t
b e
b u s in e s s
P r e s id e n t
e x is tin g
is
th is
w ill
are
h a v e
fo r
a
to
e x p e n d itu r e s
a cco u n t
it
v o lu m e
T h a t
b e
th e
B etw een
be
1 9 0 7 -0 8
1 9 0 9 -1 0
$ 1 ,4 1 9
d iffe r e n c e ,
.g r e a t e r
e q u ip m e n t
in
fo r
a fte r
in
is s u e s
to ta l
a
w o u ld
b o n d s
r e p r e s e n t in g
d e s ir a b le
rea ch ed
o n
$ 1 4 ,2 4 0 ,6 2 1
1 9 0 8 -0 9 ,
th e
is
d e b t
a t
in
fo r
m a t e r ia ls .
e x p e n d it u r e s
fro m
F or
o f
c o n c lu s io n
T h is
tw o
r e d u c t io n
is
c o n v e r tib le
c o n v e r t ib le
O n
a
th is
sto ck .
o f fu n d e d
of
to
• c e r ta in
w a s
$ 1 3 ,9 5 9 ,0 0 0
th a t
h ig h e r
th ere
b u t
m e n t io n e d
1 9 0 9 -1 0
in c re a s e ,
v o lu m e
h as
1 9 0 9 -1 0 ,
in
la s t
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T a k e
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THE CHRONICLE
to ta l
o f
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IM PR O VEM EN TS.
s h o u ld
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C O M M IS S IO N
Bureau of Statistics and Accounts
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W A S H IN G T O N
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n et
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b u t
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little
Y.
page 675, you make a statement respecting the accounts
promulgated by the 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
call your attention to it.
s h o u ld
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D u r in g
N.
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la r g e
York,
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e x p e n d it u r e s
e x a ct
P . O . B o x 958, N e w
D e a r S i r .— In your issue of Sept. 17th, in an editorial on
O f
th a t
g r o s s , s e e in g
y e a r
co v e re d
c a p ita l
o n
September 30 1910.
E di to r C om m er cia l and F in a n c ia l Chronicle,
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,
H E N R Y C. A D A M S,
In charge of Statistics and Accounts.
a n d
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In
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im p r o v e m e n ts ,
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r e q u ir e
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in
b o th
THE CHRONICLE
916
in
th e
in c o m e
p r iv in g
th e
a cco u n t
roa d s
a r id
th e
a lto g e th e r
b a la n c e
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use
o f
D e
in c o m e
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to
w a y —
o r , w h a t is t h e
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a d o p t
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lo w
le ft
th a t
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th e
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th e
sa y
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T h e
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h is
A s s o c ia t io n
w e
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w ill,
P r o f.
b e fo r e
D e ce m b e r
th e
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w ill
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u n fit
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not
fo r
r c - ls s u ln g Its o w n
c ir c u la tio n , a n d
paper m oney w hen
th a t
th e sa m e
th a t m o n ey has
f a c ilitie s
s h o u ld
not
be
by
th e
banks
I n t h is c o n n e c t io n
In t h e s u b - t r e a s u r y
c itie s .
I s h o u ld l i k e t o c a ll t h e a t t e n t i o n
o f y o u r C o m m itte e
to e x p e r im e n t s b e in g m a d e b y t ills D e p a r t m e n t a n d n o w r a p i d ly a p p r o a c h
it
in g w h a t a p p e a r s
to
and
s o ile d
r c - s iz ln g
of
b e a s u c c e s s f u l t e r m i n a t i o n . In t h e
cu rren cy.
A c c o rd in g
to
w a s h in g ,
p resen t
I r o n in g
p ro sp e cts
we
s h a l l b e a b l e In t h e c o u r s e o f t h e c o m i n g y e a r t o I n s t a l l I n a l l o f t h e s u b
t r e a s u r ie s la u n d r ie s fo r t h e n o te s , w h ic h w ill s a v e a n d r e t u r n to c ir c u la tio n
A m e r ic a n
b y
I s h o u ld
e x t e n d e d t o t h e b a n k s In s m a l l e r t o w n s a n d c i t i e s In t h i s r e g a r d a s a r e n o w
A d a m s;
q u o te d
G o v e rn m e n t,
n o t a t a ll c e r ta in t h a t th e G o v e r n m e n t o u g h t n o t to b e a r t h e e x p e n s e
o f t r a n s fe r r in g a n d
th a t
t h e e x p e n d itu r e s o f th e
f e e l J u s t i f i e d a t t h e p r e s e n t t i m e In m a k i n g s u c h a r e c o m m e n d a t i o n , a l t h o u g h
I am
in
[V O L . L X X X X I .
about
us
fo u r - fifth s o f
w ill a ls o
th e
n o te s w h ic h
at
p resen t arc
m a k e It p o s s ib le to c le a n s e a n d
d e stro y e d
and
w h ic h
r e - ls s u e p a p e r c u r r e n c y w h ic h
Is
n o t y e t s o ile d to t h e e x t e n t o f b e in g u n fit f o r c ir c u la tio n , b u t w h ic h w o u ld
in
th e
v e ry
rem a rk
th e
n u m b e r o f o u r p a p e r
to
w h ic h
ow n ers
o f
are
g ra n ted
th e ir
are
co n ce rn e d ,
h e
ta k es
p ro p e rty
in
w h ic h
e x c e p tio n )
d e v o te d
to
C o n s titu tio n a l
a p p ea red
“
th a t
th e
p u b lic
r ig h ts ,
so
th e
.
.
.
s e r v ic e
fa r
as
ra tes
o t h e r w i s e c o n t i n u e In u s e In a n u n c l e a n a n d p e r h a p s u n s a n i t a r y c o n d i t i o n .
T h e p ro p o s a l o f y o u r C o m m itte e t h a t a n a d e q u a t e s u p p ly o f fre s h m o n e y
o f a ll k in d s a n d
t r e a s u r ie s
d e n o m in a t io n s s h o u ld
Is o n e w h i c h
b e m a in ta in e d
In e a c h
a ls o s u g g e s ts fu r t h e r le g is la tio n .
o f th e su b
W e are
m a k in g
a s p e c i a l e f f o r t t o m e e t t h e r e q u i r e m e n t s o f b a n k e r s In t h i s r e s p e c t , b u t t h e
e x is t in g r e s tr ic tio n s u p o n th e d e n o m in a tio n s o f d iffe r e n t f o r m s o f o u r p a p e r
c u r r e n c y a r e s u c h t h a t I t Is v e r y d i f f i c u l t t o e f f e c t r e d e m p t i o n s o f a l l s o r t s
ch a rg es
fo r
q u a te
to
w h en
th e
it
is
sh o w n
a g g reg a te
a ffo r d
a
o f
th a t
th e
s e r v ic e s
r e a s o n a b le
a g g reg a te
ren d ered
retu rn
u p on
is
o f
a d e
n ecessa ry
of m oney at
m a y d e s ir e .
a l l s u b - t r e a s u r i e s In w h a t e v e r d e n o m i n a t i o n t h e d e p o s i t o r
T h e r e s h o u l d b e , I b e l i e v e , f u r t h e r c h a n g e s In l e g i s l a t i o n
a llo w in g g r e a te r fre e d o m
m oney.
A
r e v is io n
In t h e d e n o m i n a t i o n s o f t h e s e v e r a l k i n d s o f p a p e r
o f th e la w , f o r In s ta n c e , w h ic h
w o u ld
a llo w
n a tio n a l
b a n k n o t e s t o b e o f t h e d e n o m i n a t i o n o f o n e a n d t w o d o l l a r s , w o u l d h e l p In
in v e s tm e n t’’?
A n d
d id
h e
th e
c o n c lu s io n
n o t
th e n
a d d :
" F o r
m y
th is d ir e c tio n .
th e
s e lf,
I
ca n n o t
tw e e n
e v a d e
v a r io u s
c la s s e s
u n til
a ll
th e
lim it
b e
m a d e
e x ce ss
o f
o f
ro a d s,
rev en u e
th a t
ca n
e q u ity ,
n e v e r
o v e r
th e
b e
as
b e
a tta in e d
a n d
fo r
th a t
th is
a ll t a x e s
c o n t r ib u tio n
c o n tr ib u tio n
o f a ll k in d s
F A C IL IT A T IN G
to
b e
a n d
th e
C o n s tit u t io n a l
p u b lic
m a d e
as
trea su ry ,
a
s u b s titu te
a ll s o r t s ” ?
AND
THE
cost
to
th e
banks
seaso n s o f th e y e a r.
to
th e
of
f a c ilita t in g
banks
In
H u ttlg ,
C h a ir m a n .
B an kers’
S t.
M o .:
L o u is ,
A s s o c ia tio n .
and
m y s e lf,
you
have
su g g ested
w it h
th re e
M r.
u h a r le s J H .
A s s is ta n t S e c r e ta r y A n d r e w
p r o p o s itio n s
lo o k in g
to w a rd
th e
First .— T h a t c o l l e c t o r s o f I n t e r n a l r e v e n u e a n d c u s t o m s l b e ’ a u t h o r i z e d
t r e a s u r e r ’s
o r d e r . Issu ed
d o m e s tic
exchan ge
and
a v o id in g
th e
n e c e s s ity
su ch
an
a rra n g e m e n t,
fe a s ib le
w ay
th e
and
th o u g h
o p e r a tio n s
of
very
th e
d e s ir o u s
ban ks,
I
do
B y a g r e e in g to
r e d e e m g o ld c e r t ific a t e s p a y a b le t o o r d e r a t a n y s u b - t r e a s u r y , o r b y a g r e e in g
e x t e n s i o n o f g r e a t e r f a c i li t ie s o n t h e p a r t o f t h e T r e a s u r y t o t h e b a n k i n g In
te r e s ts o f t h e c o u n t r y , n a m e ly th e fo llo w in g :
to a c c e p t c a s h ie r ’s a n d
to
In p a y m e n t o f a n y
t h e d is t r ib u t io n o f t h e f in a n c ia l w o r ld ’s d e m a n d f o r g o ld .
B A N K S .^
to r e c e iv e th e m
c a lly
In p a y m e n t o f d e b t s a t a n y s u b - t r e a s u r y , w h ic h
I d e n tic a l
c h e c k s o f a n y m e m b e r s o f c le a r in g - h o u s e
w ith
th e ir
r e d e m p tio n ,
th e
G overn m en t
c a s e s , In t h e f u t u r e , a s I n t h e p a s t , f i n d I t s e l f o b l i g e d
a c c r u in g
to
th e
G o v e rn m e n t.
to
In
m any
b ear th e exp en se
o n e p a r t o f th e c o u n tr y to a n o th e r , a n d t h e e c o n o m y
banks
In
Is p r a c t i
m ig h t,
m ig h t
a c tu a l
p ro ve
p r a c tic e
to
b e e n t ir e ly
th e se
f a c ilitie s
at
of
th e
expen se
exchan ge
of
have
th e
been
e x te n d e d to t h e b a n k s fro m tim e to tim e a c c o r d in g to w h a t s e e m e d e x p e d ie n t
th e
m o m e n t;
e x is tin g
In s u b s e q u e n t c o r r e s p o n d e n c e
p a y a b le
g o ld s u p p ly a m o n g Its s e v e r a l s u b - t r e a s u r ie s d o c s n o t a l w a y s c o in c id e w it h
THE
Gentlemen.— A t a n I n f o r m a l m e e t i n g o f y o u r C o m m i t t e e I n W a s h i n g t o n In
June and
c e r tific a t e s
F r a n c is c o , b e r e c e iv e d
by
b a n k e r s w o u ld
W h ile r e c o g n iz in g t h e e c o n o m ic s w h ic h w o u ld a c c r u e
every
at
A m e ric a n
of
th ro u g h
The
th e
ex p en ses b orn e
th e
o f c r o s s - s h ip m e n t s o f g o ld b e t w e e n d iffe r e n t p a r t s o f t h e c o u n t r y a t d iffe r e n t
o f s h ip p in g g o ld fr o m
of
t h a t g o ld
th e
w h ic h
d e b ts d u e t h e U n it e d S t a t e s G o v e r n m e n t w h e r e v e r p a y a b le , t h u s r e d u c in g
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:
3
C o m m itte e
in c r e a s e
n o t fe c i t h a t th e G o v e r n m e n t c a n a ffo r d to a d o p t s u c h a p la n a s a m a t t e r
o f g e n e ra l p r a c tic e .
T h e n a t u r a l d r i f t a n d d i s t r i b u t io n o f t h e G o v e r n m e n t ’s
O P E R A T IO N S B E T W E E N
TREASURY
t h is c h a n g e w o u ld
i t is n o t t h e s o r t o f r e f o r m
a t a n y su b -tre a su ry e x ce p t S an
th e
a
B u t as
b a n k s, p erh ap s
b e lik e ly to u rg e .
Third .— Y o u h a v e a s k e d
In
th e
dem anded.
th a t
Is
v a r io u s
W hen
to
say,
a c c o r d in g
s u b -tr e a s u r ie s
g o ld
has
at
a c c u m u la te d
to
th e
th e
p a r tic u la r
tim e
w hen
In o n e o f t h e
c o n d itio n s
exchan ge
w as
s u b -tr e a s u r ie s
In
e x c e s s o f t h e n e e d s o f t h a t s u b - t r e a s u r y , a n d a n o t h e r s u b - t r e a s u r y Is I n a p
p r o p r ia te ly s u p p lie d ,
we have
n o t I n fr e q u e n tly r c - d ls t r lb u tc d
by
th e Issu e o f e x c h a n g e .
am
I n c lin e d t o t h in k t h a t It w o u ld
to
e x te n d
In
A c c o rd in g
to
th e s e fa c ilitie s w it h o u t r e s tr ic tio n
t h is
c o n n e c tio n
you
have
t h e s u r p lu s
p r e s e n t In fo r m a tio n , h o w e v e r ,
I
b e u n w is e fo r th e G o v e r n m e n t to o ffe r
a ls o
asked
at
th is t im e .
th a t
th e s y s te m
o f te le g r a p h ic
a s s o c i a t i o n s In s u b - t r e a s u r y c i t i e s w h e r e t h e c o l l e c t o r s a r e l o c a t e d , p r o v i d e d
t r a n s fe r s b e e x t e n d e d s o a s to I n c lu d e t r a n s a c t io n s b e t w e e n a ll s u b - t r e a s u r y
th a t
c itie s
c le a r in g - h o u s e
m em b ers
p r e v io u s ly d e p o s ite d
cover
ch ecks
so
w ith
w h ose
ch ecks
are
to
be
th e s u b -tr e a s u r ie s a s u m
so
a c c e p te d
have
o f m o n e y s u ffic ie n t to
u sed .
Second .— T h a t t h e c o s t o f r e d e m p t i o n a n d r e - l s s u e , I n c l u d i n g t r a n s p o r t a
tio n , o f th e
G o v e r n m e n t ’s o w n Is s u e s o f c u r r e n c y s h o u ld
be b o rn e b y th e
G o v e r n m e n t ; a n d t h a t a n a d e q u a t e s u p p l y t h e r e o f s h o u l d b e m a i n t a i n e d In
t h e v a r io u s s u b -tr e a s u r ie s .
Third .— T h a t g o l d c e r t i f i c a t e s p a y a b l e t o o r d e r , a u t h o r i z e d b y t h e A c t
o f M arch
14
r e c e iv e d
In
19 0 0 ,
Issu ed
paym ent
w h e r e v e r p a y a b le ;
so
as
to
of
at any
any
su b -tre a su ry ,
d e b ts
due
th e
except
U n ite d
San
F r a n c is c o ,
S ta tes
he
G overn m en t
a n d t h a t t h e s y s te m o f te le g r a p h ic tr a n s fe r s b e e x te n d e d
I n c lu d e
tr a n s a c tio n s
b etw een
o th e r
su b -tre a su ry
c itie s ,
except
except
th re e
p r o p o s itio n s
s e r ia lly
and
I n d iv id u a lly ,
I
beg
to
First .— T h e l a w p r e s c r i b e s t h a t a l l t a x e s o n I m p o r t a t i o n s s h a l l b e p a i d In
by
19 10 ,
tre a su re r,
any
a s s is t a n t
F r a n c is c o ,
Is
a llo w e d
a u th o r iz e d
to
except
accept
been
a c c o m p lis h e d
U n ite d
th e
S ta te s J u ly
A s s is ta n t
d e p o s its
fo r
tra n s fe r to
A c c o rd in g
B o s to n ,
N ew
r e v e n u e s m u s t b e p a id
th u s
c le a r ly
sta tes
In a c t u a l m o n e y .
In
th a t
( R e v is e d
cu sto m s
N ew
Y ork ,
F r a n c is c o c o lle c to r s o f c u s to m s r e c e iv e o rd e rs d r a w n
B o s to n
be
e x te n d e d
to
o th e r
In te rn a l
and
San
b y b a n k s u p o n fu n d s
b y th e s e b a n k s d a lly a t t h e s u b -tr e a s u r ie s , a n d
sy s te m
S ta tu te s,
and
y o u r c o m m itte e
s u b -tre a s u ry c itie s ,
n a m e ly
7
San
fo r
a m o u n t n o t e x c e e d i n g $ 1 0 0 ,0 0 0
B a lt im o r e to
on
Y o r k fo r te le g r a p h ic
t h e e x t e n t o f $ 1 0 0 ,0 0 0
b e m a d e f o r p a y m e n t In C i n c i n n a t i , S t . L o u i s a n d
O r l e a n s t o t h e e x t e n t o f $ 2 5 0 ,0 0 0 p e r d a y , f o r p a y m e n t I n C h i c a g o t o
lim it.
T h e fig u r e s
W a s h in g to n .
s ilv e r c o in , T r e a s u r y n o te s , o r n o te s o f n a tio n a l b a n k s
la w
In
tra n sfe r
to a s e r ie s o f o r d e r s , la s t a m e n d e d
P h ila d e lp h ia a n d
p er d a y , b u t th e y m a y
asked
The
B y
f> a n d
T reasu rer
t e le g r a p h ic
1 9 1 0 , n o t o n l y m a y d e p o s i t s b e m a d e In N e w
a c c u sto m e d
th is
th e T re a s u re r o f th e
In t h i s r e g a r d .
S e p t. 12
t h a t a l l o t h e r t a x e s a n d d e b t s t o t h e G o v e r n m e n t s h a l l b e p a i d In g o l d a n d
th a t
a lr e a d y
p a y m e n t In a n y o t h e r s u b - t r e a s u r y t o a n
had
asks
has
p er d a y , u p o n p a y m e n t o f e x p ress ch a rg e s a t b a n k e rs’ r a te s a n d th e ch a rg e
f o r t h e t e le g r a m .
A t t h e N e w Y o r k s u b - t r e a s u r y e v e n g r e a t e r l a t i t u d e Is
g o l d a n d s l i v e r c o i n , o r c o i n c e r t i f i c a t e s , o r In d e m a n d T r e a s u r y n o t e s , a n d
d e p o s ite d
T h is
g e n e r a l o r d e r s Issu ed
u re rs a r e g iv e n
s u b m it t h e f o llo w in g c o n s id e r a tio n s :
3 4 7 3 ).
F r a n c is c o .
t h e e x t e n t o f $ 5 0 0 ,0 0 0 p e r d a y , a n d f o r p a y m e n t In S a n
S a n F r a n c is c o .
T r e a tin g th e se
S e c tio n
San
it
th e
to
W hen
to
m ake
la r g e r
T reasu rer
tra n sfe rs
a m o u n ts
Is I n a
g iv e s
th e y
m ay
p o s itio n
to
p e r m is s io n ;
w it h
s till
do
so
th is
be
Is
paym ent
S ta te s
fo r,
is
In S a n
U n ite d
asked
t o d o If h is t e l e g r a p h i c I n q u ir y s h o w s t h a t t h e o f f i c e w h ic h
th e
th e
arc
w it h o u t c o m m u n ic a tin g
lie
m ake
of
t o o f a r Its c a s h o n h a n d .
p a y m e n ts
F r a n c is c o w it h o u t
g iv e n a b o v e a r e th o s e w it h in w h ic h t h e a s s is t a n t t r e a s
a u th o r ity
w ith o u t
d e p le tin g
In th e c a s e o f a ll tr a n s fe r s , e x c e p t t h o s e I n v o lv in g
F r a n c is c o ,
th e
d e p o s ito r m u s t
pay
th e
exp ress
ch arges
a n d th e c h a r g e s fo r th e t e le g r a m .
F o r p a y m e n t In S a n F r a n c i s c o , h o w e v e r ,
d e p o s its a r e a c c e p te d a t o t h e r s u b - t r e a s u r ie s w it h o u t r e q u ir in g a n y c h a r g e
fo r e x p re ssa g e ,
but a
u n ifo r m
c h a r g e o f •$! 3 0 f o r t h e t e l e g r a m .
If a fte r
C h ic a g o , N e w O r le a n s , B a lt im o r e , P h ila d e lp h ia , S t . L o u is a n d C in c in n a ti,
a n d t h a t It b e e x t e n d e d to I n c lu d e t h e p a y m e n t s o f I n te r n a l r e v e n u e , a s
t h i s s t a t e m e n t It d o c s n o t a p p e a r t h a t t h e d e s ir e s o f y o u r c o m m i t t e e h a v e
b e e n m e t w it h r e g a r d to t e le g r a p h ic t r a n s f e r s , I s h o u ld lik e t o b e f u r t h e r
w e ll a s
In fo rm e d .
If su ch a c tio n
cu sto m s.
T o t h is s u g g e s t io n I se e n o o b je c tio n fr o m
t h e p o in t o f v i e w o f th e T r e a s
a c c o r d s w ith
g la d
and
tio n s :
(1) T h a t S e c tio n 3 4 7 3 o f th e R e v is e d S t a t u t e s b o so a m e n d e d a s to a llo w
C in c in n a ti,
b u t little
p a y in g c u s to m s .
h o w ever,
fo r m ity
th a t a
ask
u se w o u ld
Is m e d i e v a l a n d
w ith
th e
w is e r
p r o b a b ly
T h e w h o le s y s t e m
r a d ic a l
p r a c tic e s o f m o d e rn
m e th o d
C o n g ress so
r e q u ir e s
to
o f h a n d lin g
am end
r e v is io n
b u s in e s s .
t h is
S e c tio n
be m ad e o f th e
m e th o d
In
o f h a n d lin g th e G o v e r n m e n t m o n e y ,
to
b r in g
I am
It In to
I n c lin e d
p a r t ic u la r p r o p o s itio n
3473
as
to a llo w
to
con
b e lie v e
w o u ld b e
ter
c o lle c to r s o f c u s to m s
a n il I n te r n a l r e v e n u e to r e c e iv e c e r tifie d c h e c k s u p o n n a t io n a l b a n k s , u n d e r
su ch
s a fe g u a r d in g
r e g u la tio n s
G o v e r n m e n t a g a in s t lo s s .
as
T h is
w o u ld
w o u ld
In su re
a llo w
th e
c o lle c to r s
and
G overn m en t reven u es
th e
to
be
r e c e iv e d a n d
h a n d le d a s a r e th e r e v e n u e s o f m u n ic ip a litie s a n d
S t a t e s , In
d u s tr ia l
c o m m e r c ia l
I
g la d
to
and
recom m en d
Second .— Y o u
su ch
have
c o r p o r a tio n s
and
le g is la t io n
m y a n n u a l re p o rt.
p ro p o sed
In
th a t
th e
In d iv id u a l
fir m s .
G overn m en t
s h o u ld
s h a ll
bear
In
exchan ge
and
have
asked
th a t
an
a d e q u a te
s u p p ly
of
th e
fre s h
m o n e y o f a l l k in d s a n d d e n o m in a t io n s b e k e p t In e a c h o f t h e s u b - t r e a s u r i e s .
T h e p r o p o s a l t h a t th e G o v e r n m e n t p a y th e c o s t o f s h ip m e n t to a n d fro m
th e
T rea su ry
p r im a r ily
fa c ilitie s
a c c e s s ib le
to
In
reg a rd
g r a n tin g
w h ic h
th e
r e d e m p t io n
to
to
th e b a n k s
r e d e m p t io n
and
to
g iv e
of
c le a n
t h is
m oney
req u est
r e - ls s u e o f
w h ic h
fo r
w o u ld
are
now
a s I t Is t h e
u n lit
m oney
o b v io u s ly
w o u ld h a v e to b e m a d e b y C o n g r e s s , a n d
s e r v a t iv e e s tim a te o f th e a m o u n t so I n v o lv e d .
u n lit
m oney
Is I n t e n d e d
o u t s id e o f s u b - t r e a s u r y c itie s t h e s a m e
to s u b - t r e a s u r ie s , I n a s m u c h
D e p a rtm e n t
The
In
e x te n d
e n jo y e d
by
th e
banks
p re s e n t p r a c tic e o f th e
at
I n v o lv e
th e
an
s u b -tr e a s u r ie s .
a p p r o p r ia tio n
$ 3 0 0 ,0 0 0 w o u l d b e a c o n
In v ie w
c o lle c to r s
of
fo r C o n g r e s s io n a l c o n s id e r a t io n
cu sto m s
and
of
o f n a tio n a l b a n k s u n d e r s u c h
In tern a l re v e n u e
r e g u la t io n s
t h e G o v e r n m e n t a g a in s t lo s s .
(2 ) T h a t t h e e x i s t i n g r e s t r i c t i o n s
k in d s
of
paper
m oney
be
upon
th e fo llo w in g
p r o p o s i
to r e c e iv e c c r tU lc d c h e c k s
a s w ill I n s u r e t h e c o lle c t o r s a n d
th e
d e n o m in a tio n s
fu r th e r r e la x e d .
R e s p e c tfu lly y o u r s ,
F R A N K L I N M A C V h ’A G I I .
o f d iffe r e n t
Sec retarn.
be
e x p e n s e o f tr a n s p o r t in g u n fit m o n e y to th e T r e a s u r y a n d r e - s h ip p in g fre s h
m oney
to re c o m m e n d
t h e d e s ir e s o f y o u r C o m m i t t e e , I s h o u ld b e
u r y , a l t h o u g h In s o m e o f t h e l e s s I m p o r t a n t p o r t s o f e n t r y , s u c h a s S t . L o u i s
o f th e e ffo r ts n o w
ITEMS ABOUT B A N K S, BAN K ER S
A N D TRUST CO’S.
— The 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
transaction was a sale at auction of one lot of 3 shares of stock
of the Title Guarantee & Trust Co. at 4 9 7)4, an advance of
22 )4 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
O c t . 8 11)10.
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.
Shares. HANKS— New York. Low. High.
*138 Commerce, Nat. Hank o f. . 201
205
•09 Fourth National Hank_ . 185
186
15 N. Y. Produce Ex. Hank. - 161 X 161 'A
TRUST COMPANY—■New York.
3 Title Guar. & Trust Co__ . 497 'A 497 M
Close. Last previous
203
Sept. 1 9 1 0 180
Sept. 1910—
161 Y, Mcli. 1910—
sale.
203
187
175 M
197 M June 1910—
475
•Sold at the Stock Exchange.
917
Williams College, of which Mr. Simmons was a graduate,’
R . H . Thomas, President of the New York Stock Exchange;
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:
Ilesolved, That the Chamber of Commerce of the State of New York
places on record Its appreciation of Mr. Simmons’ long, faithful and valuable
services to it and to the business community, that it conveys to the family
of the deceased Its sympathy in their 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 tills 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 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
tertainment many trips to near-by points of interest and other
social features were arranged. The currency question was
— The several rulings bearing on the interpretation of cer
one of prominence at the meeting, several of the speakers
having that as their theme. As is customary with us, we tain sections and phrases of the Aldrich-Vreeland Emer
shall present the detailed proceedings, with the papers and gency Currency Act of May 80 1908, which have recently
reports of the regular convention and its sections, in our been made by the Treasury Department, have been brought
annual number, the “ Bankers’ Convention Section,” to be together in a circular issued by the Department tinder date of
issued on Saturday next, Oct. 15. As noted last week, this Sept. 1G. This circular in full is as follows:
TREASURY DEPARTMENT,
publication will contain as special features the following arti
Office of the Secretary.
cles: “ Historical Summary of Los Angeles and Los Angeles
Washington, Sept. 10 1910.
1. Withdrawal of a Rank from a Currency Association.
Banks,” by Stoddard Jess, Vice-President of the First Na
Any
member
of
an
association
may
withdraw
therefrom providing—
tional Bank of Los Angeles, and the “ Growth of Banking in
1. That at the time of such withdrawal there shall be no unredeemed
San Francisco Since the Fire,” by James K . Lynch, Vice additional circulating notes Issued to the association;
2. That the unanimous consent of the executive committee of the board
President of the First National Bank of San Francisco.
A noteworthy act of the Association during its sessions was of managers of the association shall be obtained, and
3. That the Secretary of the Treasury of the United States shall approve.
the appropriation of $5,000 for the relief of the families of
II. Redemption Fund for Additional Circulation.
Section
3 of the Act of June 20 1874 provides that a national bank must
those killed in the destruction of the Los Angeles “ Times”
keep on deposit In the Treasury of the United States a sum equal to 5%
Building a week ago.
of such circulation as Is provided for In that Act. Section 6 of the Act o f
F.
O. W atts has been chosen to succeed Lewis E . Pierson
May 30 1908 provides that the banks shall keep on deposit In the Treasury
as President of the Association; Charles II. Iluttig of St. Louis of the United States an additional sum equal to 5% of such additional
circulation at any time outstanding. The Department Is of the opinion
is successor to Mr. Watts as Chairman of the Executive that the redemption fund to be deposited In the Treasury on account of
Council, and Arthur Reynolds, President of the Des Moines additional circulation authorized by the Act Is not required to exceed
National Bank, has been elected Treasurer of the Association. 5% of such additional circulation, and that Congress Intended only to
extend to the additional currency the original provisions for a 5% redemp
Mr. W atts is President of the First National Bank of Nash tion fund hitherto provided for the ordinary bond-secured circulation.
III. Extent of Territory to be Comprehended by a Currency Association.
ville. He started his banking career as a runner in the
In regard to the extent of territory to be comprehended by a currency
First National Bank of Union City, Tenn., at a salary of $5
association, attention Is called to the following provisions of the Act of
a week, and before he was twenty-one years of age was Cash May 30 1908:
1. That there shall not be more than one such association formed In
ier of that institution. In 1897 he accepted the cashiership
any city.
of the First National Bank of Nashville. He is next to the
2. That the member banks "shall be taken, as nearly as conveniently
youngest man that has ever held the position of President of may be, from a territory composed of a State or part of a State, or con
tiguous
parts of one or more States.”
the American Bankers’ Association. A t an early age he
3. “ That any national bank In such city or territory, . . . shall,
was made President of the Tennessee Bankers’ Association, upon Its application to and upon the approval of the Secretary of the
and has been a member of the executive council ever since.
Treasury, be admitted to membership In a national currency association
Edward L. Robinson, Vice-President of the Eutaw Sav for that city or territory.” . . .
These provisions are construed to mean (1) that the territory to be In
ings Bank of Baltimore, has been elected President of the cluded In the currency association of a particular city must be at least co
Savings Bank Section, and It. C. Stephenson of the St. Jo extensive with the limits of the city, and (2) that If the territory to be
seph Loan & Trust Co. of South Bend, is the newly elected. covered by an association has been fixed In the approved by-laws, all
banks within that territory must, If properly qualified, be admitted to
Chairman of the Executive Committee of the Savings Bank membership. In other words, If the by-laws stated that the membership
In an association shall be composed of banks doing a business within a
Section.
W . II. Fries, President of the Wachovia Loan & Trust
Co. of Winston-Salem, N. C., has become Chairman of the
Executive Committee of the Trust Company Section.
— An announcement that the Mobile, A la., 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.
In this statement Mr. Buck is quoted as follows:
"The report tli.it Mobile banks have decided to guarantee cotton bills Is
erroneous. No notion on the 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 blll-of-lading matter.”
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.
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
bership.
IV . Securitu 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 Hanking Association.” The term "commercial
paper” Is thereafter defined to include "only notes representing actual
commercial transactions, which when accepted by the association shall
bear the names 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 docs not exceed 10% of the valuation of Its taxable property,
to be ascertained by the last preceding valuation of property for the
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 futid 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 thevalue 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 first meeting of the New York Chamber of Commerce
since its 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
II. Choate, Vice-President of the Chamber, presided at the
— The ruling of the Comptroller of the Currency, mentioned
meeting. Addresses in praise of the late President were in our issue of Sept. 24, under which the right of a national
made by Mr. Choate, Dr. II. A . Garfield, President of I ank to insure the life of any of its officials is denied, is the
918
THE CHRONICLE
lVOL. LXXXXI
subject of a statement given out by Mr. Murray on Sept. 26. J — Property at Nos. 49-51 W est 33rd Street, this city,
His announcement, as published in the New York “ Journal purchased last week by Alexander P. W . Kinnan, has been
acquired on behalf of the Mutual Bank, now located at the
of Commerce,” says:
In answer to many inquiries Irom banks. Comptroller of the Currency northeast corner of 33rd Street and Broadway. The
Murray has recently expressed an opinion that a national bank has no purchase price of the property is said to have been $380,000,
power to use Its funds In paying premiums on a policy of Insurance upon
the life of Its President, or other officer, not indebted to the bank, though A twelve-story bank and office building will be erected on
the policy be payable to the bank.
the site, the bank utilizing the lower portion for itself. As
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 the lease of the present bank premises does not expire until
directors, and by Its board of directors to appoint a President, Vice-Presi May 1 1912, the institution has ample time to construct its
dent, Cashier and other officers, define their duties, require bonds of them new building and have it ready on that date for its occupancy.
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. Alarge In
surance policy upon the life of Its President would seriously Interfere with
the discretion vested In them as to his retention In office.
Powers of a 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
assets, the value o f 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 N ov.
20. In view of the contimnd ill-health of Justice Moody, a
special Act was passed by Congress last June permitting him
to retire on full salary, 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
seventy years, to enter the retired list on full salary.
— A t the annual meeting of the New York Clearing House
Association, held on Tuesday, A . Barton Hepburn, President
of the Chase National Bank, was elected President of the
association, succeeding William II. 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. William Sherer and William J. Gilpin were
re-elected as Manager and Assistant Manager respectively.
William A . Nash, President of the Corn Exchange Bank, re
places Valentine IJ. 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:
Clearing House— William A. Nash, Chairman; Francis L. Hlne, President
■of the First National Bank; William II. 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 Dclafleld, 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
:Samucl Woolverton, President of the Gallatin National Bank.
Nominating—Albert II. Wlggln, Vice-President of the Chase Natlona
Bank, Chairman; Casimlr Tag, President of the German-Amcrlcan 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. Tlctjen, 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’ Natlona
Bank, Chairman; Herbert L. Griggs, President of the Bank of New York,
N. B. A.; Forrest II. 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
tions of $106,749,253,036 were reported, of which $4,195,
293,997 were balances and $102,553,959,069 exchanges.
These transactions were the largest on record. The heaviest
transactions on any one day during the year occurred on
N ov. 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 $2,230,144,291,996.
— The Fidelity Trust Co. at Chambers Street and W est
Broadway, this city, has been designated a depositary for
the general funds of the State of New York. The institution
is already a depository of city funds.
— The Union Exchange National Bank of this city was
admitted to membership in the New York Clearing House
Association on Tuesday. Albert II. Wiggin, Vice-President
of the Chase National Bank, has been elected a director of
the Union Exchange National. The latter institution begau 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.
— In a special statement under date of Oct. 3 1910 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 in January 1908 were but $900,000.
The bank has a capital 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
change Bank, this city, has
of 4 % , payable Oct. 15 to
dends heretofore have been
annual period.
of the New York Produce E x
declared a semi-annual dividend
holders of record Oct. 8. Divi
3 % and 1 % extra at each semi
— John S. Huyler, the well-known candy manufacturer,
who was also 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 Washington Trust Co. and the Federal Safe Deposit Co.,
died 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
tional Bank of 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.
— 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 1006, as
amended by Chapter 313 of the Acts of the year 1910, an Act entitled "T o
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 1003, 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 was known as the “ Day & Night B ank.” It
had a 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
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
National Bank of 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.
t—T he following new members have been added to the
directorate of the Harris Safe Deposit Co. of Chicago: W . M.
O c t . 8 1 9 1 0 .]
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,(325,000. 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 page.
September.
Clearings at
1910.
1909.
September.
Clearings at—
1910.
j
Nine Months.
Inc. or
Dec.
1909.
1910.
Inc. or
Dec.
1909.
Canada—Montreal........
Toronto ........
Winnipeg____
Vancouver___
Ottawa_____
Quebec.........
Halifax.........
Hamilton____
St. John.........
Calgary..........
London _____
Victoria ........
Edmonton___
Iteglna _____
Brandon........
Lethbridge__
S
S
%
S
S
178,028.287 145,341,696 + 22.5 1,530,114,614 1,290,698,392 + %19.0
125,910.038 112,854,897 + 11.6 1,138,365,547 1,022,410.530 + 11.3
76,951,048 60,827,428 + 20.5 621,213,073 460,739.096 +34.8
10,428,521 28,035,000 + 44.2 319,100,839 192,798,057 + 65.5
16,616,851 13,864,221 + 19.9 143,394,057 126,360,661 + 13.5
9,791,946 9,393,651 + 4.2 89,161,079 84,460,106 + 5.0
7,133,228 7,080,760 + 4.8 73,479,828 69.897,701 + 5.1
8,316,695 6,916,970 + 20.2 72,314,049
59,814,583 + 20.9
6,373,635 6,124,893 + 4.1
57,818,752
52,029,060 + 11.1
11,584,411 9,175,036 + 26.3 106,508,019
65,102,708 + 63.5
5,051,741 4,820,908 + 4.8
49,302,940 45,406,588 + 8.4
7,984,304 5,864,553 +30.2
72,240,702
48,521,951 + 48.9
6,368,052 4,372,343 + 45.6
48,396,779 36,311,014 +33.3
4,814,792 Not Incl. In total,
33,547,433 Not Included In total
2.038,024 Not lnci. In total,
13,456,814 Not Included In total
1,932,976 Not lncl. In total.
1,932,976 Not Included In total
Total Canada. 600,538,757 414,072.356 +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 1 5 .1 % .
Week ending October 1.
1910.
Canada—
Montreal...........
Toronto ...........
Winnipeg______
Vancouver.........
Ottawa.............
Quebec..............
Halifax.............
Hamilton...........
St. John........
Calgary.............
London .............
Victoria ......... .
Edmonton_____
Regina _______
Brandon...........
Lethbridge . . __
Total Canada
1909.
Inc. or
Dec.
1908.
1907.
S
S
%
45,352,528
36,575,421 + 24.0
32,153,715
30,753,280 + 4.6
19,444,487
18,179,994 + 7.0
9,433,800
6,544,020 + 44.1
3,804,379
2,943,807 +29.2
2,295,471
2,095,589 + 9.5
1,717,684 —8.6
1,570,528
2,021,424
1,767,429 + 14.4
1,444,103
1,418,307 + 1.8
2,497,791 + 11.4
2,792,016
1,060,270 + 5.4
1,123,917
1,339,387 + 16.2
1,556,258
1,050,578 +22.9
1,290,652
020,582 Not Included In total
470,447 Not Included In total
379,203 Not Included In total
5
30,779,906
23,570,247
14,193,703
3,636,686
3,177,332
2,226,266
1,480,596
1,304,033
1,233,712
1,316,800
1,103,884
804,596
709,037
31,507,270
25,064,011
10,207,153
4,371,883
2,890,306
2,284,362
1,712,220
2,027,207
1,457.619
1,242,469
1,313,947
1,132,589
795,222
107,949,623 + 15.1
85,622,798
86,018,268
124,283,338
%
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.
New York................ .......................
Boston .. ..................................... '"
Philadelphia...............................
Baltimore......................................
St. Louis.....................................
. Seven cities, five days......................
All cities, one day...............................
|Inc. or
Dec.
1909.
+ 5.4 7,058,754,69( 3,263,517,488 + 12.7
* Not Included In totals; comparison Incomplete,
Week ending October 1.
Clearings at—
St. Louis...........
New Orleans___
Louisville.........
Houston...........
Galveston.........
Richmond..........
Savannah ........
Fort Worth........
Atlanta.............
Memphis .......
Nashville _
Norfolk.... ........
Birmingham___
Augusta.............
Knoxville.........
Jacksonville___
Chattanooga . . .
Mobl e
___
Little R o c k ___
Charleston..........
Oklahoma ___
Macon.............
Columbia..........
Austin...........
Beaumont . . .
Columbus, Ga . .
Wllm’ton, N. C ..
Vicksburg _____
Valdosta
___
Guthrie.............
Jackson, Miss__
Meridian______
Tot. Southern.
Inc. or
Dec.
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
1.288.000
$
80,081,592
17,123,791
11,158,519
9,241,528
7,983,500
6,493,462
9,705,599
7,250,870
9,802,882
5,606,087
3,439,984
3,132,595
1,892,396
3,089,424
1,504,981
1,519,636
1,299,898
1,364,664
1,711,963
2,000,000
2,002,697
1,428,148
1908.
1907.
%
—16.9
—7.6
+2.1
+92.7
+24.7
— 10.7
—8.9
—10.0
+ 12.5
—33.7
+ 13.7
—16.4
+ 34.5
—7.1
+4.0
+28.6
+20.0
—9.4
—24.5
—13.9
+ 10.8
—9.8
S
59,642,338
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
2,295,970
1,559,713
1,212,203
1,315,075
1,165,693
1,342,916
1,000,000
1,001,045
767,700
1,400,000
515,000
918,84 i + 52.4
505,633 + 1.9
607,310
411,349
456,000
*‘ ' 500,660
253,793
'"425,666 + 17.6
207,609 +22.2
""Too", 666
300,437
" " e i'o ’ ood
395.000
300.000
320.000 +23*4
275.000 +9.1
376,000
185,610,097
191,486,329
—3.1
150,753,458
S
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
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
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 and 1909 are given below:
Descrip
tion.
Nine Months 1910.
Actual
Value.
Par Value
or Quantity.
|
Nine Months 1909.
Aver.| Par Value
Pricej or Quantity.
Actual
Value.
Aver.
Price
St’ks/Shs
130,161,975
155,662,795
\Val $11673,439,800 S11309.985.363 96.9 $14302,170,575 $13876,404,219 97.0
ItR.bonds $447,570,200 $435,589,042 97.3 $996,480,100 $705,507,301 96.9
Gov’t bds
8324,700
$347,057 108.9
$409,200
$445,782 108.9
State bds.
$35,681,950
$35,581,003 99.7
$29,409,700
$29,340,040 99.8
Bank stks
$960,500
$2,065,888 215.1
$138,950
$398,273 286.6
Total,. $12157,977,150 $11783,568,353j 96.9j$15328,608,525 $14872,095,615 97.0
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:
SALES OF STOCK AT THE NEW YORK STOCK EXCHANGE.
Clearings by Telegraph—Sales of Stocks, Bonds, &c.—
Clearings—Returns by Telegraph.
Week ending October 8.
1910.
S
%
S
%
+ 1.8 2,724,574,677 2,462,750,998 + 10.6
+ 4.2 691,826,300 608,760,039 + 13.6
+ 9.0 504,670,659 476.239,002 + 6.0
+ 33.4 478,700,205 471,130,720 + 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 + 1.5
+ 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
— 10.2 110,428,140 101,061,157 +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
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 23,871,286
23,544,899 + 1.4
+ 16.6
13,289,704
12,761,806 + 4.1
+ 4.7 20,099,306
14,174,242 + 41.8
+ 34.6
10,622,917
10,511,489 + 1.1
+ 2.7
5,793,054
4,985,226 + 17.0
—24.5
11,955,661
11,173,353 + 7.0
+26.8
17,542,10(
13,857,661 +26.6
+ 18.5
10,854,412
6,805,993
Tot. South’n 766,210,,90 726,899,622
1910.
Canadian Bank Clearings.— The clearings of the Canadian
banks for the month of September 1910 show an increase over
the same month of 1909 of 2 0 .6 % and for the nine months
the gain reaches 2 1 .7 % .
Nine Months.
Inc. or
Dec.
$
S
287,689,372 282,550,989
66,893,877 64,190,789
48,162,321 44,736,354
67,987,907 50,962,005
38,100,000 27,633,000
27,080,577 27,564,736
28,546,919 34,814,484
26,905,135 27,216,700
39,567,062 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
7,029,510 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
St. Louis........
New Orleans..
Louisville
Houston____
— Under the name of the Sullivan Bank & Trust Co., a Galveston___
Richmond . .
new banking institution began business in Montgomery, Ala., Savannah
___
on Monday, the 3d inst. The institution is owned and con Fort Worth
Atlanta_____
trolled by Martin II. Sullivan of New Orleans and Pensa Memphis ___
cola, his son, Russell Sullivan, and John P. Kohn and Frank Nashville___
Norfolk_____
Birmingham ..
D . Kohn of Montgomery. The officials are John P. Kohn, Augusta.........
President, Frank D. Kohn, Vice-President, and Russell Knoxville___
Jacksonville . .
Sullivan, Cashier. The company reports a paid-in capital Chattanooga.
Mobile______
of $100,000.
Little Rock__
Charleston___
— A charter has been issued to the Oklahoma Stock Yards Oklahoma___
National Bank of Oklahoma City. The bank has been or Macon...........
Columbia........
ganized with $250,000 capital. Its officers are Thomas P. Austin__
Beaumont___
Martin Jr., President; E. F. Bisbee, Vice-President, and Columbus, Ga.
Wllm’ton, N.C.
R . J. Robb, Cashier.
Vicksburg___
Valdosta__
— The Royal Bank of Canada (head office Montreal) has Guthrie_____
taken a lease of the ground-floor offices and basement of Jackson, Miss.
Meridian, Miss.
the building at 08 William S t., 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. The bank’s lease is for sixteen years and seven
months, beginning Oct. 1.
919r
1910.
1909.
Per
Cent.
$1,597,558,033
141,522,415
133,506,700
29,954,710
237,924,180
69,005,408
15,206,788
$2,007,606,164
—20.4
$2,224,678,810
480,011,746
$2,031,162,959
473,147,698
—15.5
$2,704,690,580
502,749,018
$3,104,310,657
074,140,022
—12.9
—25.4
$3,207,440,204
$3,778,451,279
—15.1
65^278,712
19 10 .
M'th Number
of
Shares.
19 0 9 .
Values.
Par.
Actual.
S
$
Number
of
Shares.
Values.
Par.
Actual.
$
$
Jan . 2 4 ,5 3 8 ,6 4 9
Feb . 1 6 ,0 1 2 ,6 2 6
Mch. 1 4 ,9 8 8 ,1 7 9
2 , 2 5 5 ,8 1 6 ,7 7 5 2 ,2 3 6 ,6 4 1 ,5 6 4 4 7 .2 7 5 ,5 0 0 J . 6 0 9 , 5 5 1 , 5 7 5 1 .5 5 0 ,4 0 9 .8 0 1
1 ,4 2 3 ,0 7 3 ,2 7 5 1 ,4 0 7 .7 4 3 ,9 2 8 1 2 ,3 3 7 ,1 9 9 1 ,1 4 2 , 1 9 2 , 7 0 0 1 ,0 8 2 ,0 7 5 ,1 8 1
1 .3 3 6 .8 0 3 .7 2 5 1 ,3 2 7 ,4 7 6 ,4 1 9 1 3 ,6 5 0 ,5 9 5 1 ,2 4 0 ,5 8 3 .9 0 0 1 . 1 7 5 , 4 6 9 , 7 6 6
istqr 5 5 ,5 3 9 ,4 5 4
5 ,0 1 5 ,6 9 3 .7 7 5 4 , 9 7 1 , 8 6 1 , 9 1 1 4 3 ,2 6 3 .2 9 4 3 ,9 9 2 ,3 2 8 ,1 7 5 3 .8 0 7 ,9 5 4 .7 4 8
April
May
June
1 4 ,0 8 9 ,6 3 9 1 ,2 7 9 ,4 8 7 ,6 7 5 1 ,2 5 6 ,4 8 8 ,9 7 4 1 9 ,0 5 5 ,6 1 8 1 , 7 1 9 ,1 9 3 ,8 0 0 1 , 6 4 7 , 9 4 3 , 2 1 7
1 1 ,9 1 8 .9 7 8 1 ,0 5 5 ,4 9 1 .3 5 0 1 ,0 0 4 ,6 8 1 ,4 8 0 16.495.230 1 ,4 7 8 ,0 1 7 ,6 0 0 1 .4 1 0 ,7 4 8 .9 1 4
1 6 ,2 9 2 ,8 7 0 1 ,4 5 2 .4 5 5 ,0 2 5 1 ,3 8 5 ,4 7 4 ,6 2 2 2 0 .3 2 2 .2 3 0 1 ,8 8 2 ,2 5 6 .8 5 0 1 ,8 1 5 . 4 7 8 , 9 7 4
2d qr 4 2 ,3 0 1 ,4 8 7
3 .7 8 7 .4 3 4 .0 5 0 3 ,6 4 6 ,6 4 5 ,0 7 6 ^ 5 5 ,8 7 3 .0 7 8 5 ,0 7 9 .4 6 8 .2 5 0 4 , 8 7 4 , 1 7 1 , 1 0 S
6 m’s 9 7 .8 4 0 .9 4 1
8 ,8 0 3 ,1 2 7 .8 2 5 |8,6 1 8 , 5 0 6 ,9 8 7 ] 9 9 ,1 3 6 ,3 7 2 1 9 ,0 7 1 .7 9 6 ,4 2 5 8 .6 8 2 .1 2 5 ,8 5 3
Julv
Aug.
Sept.
1 4 .2 5 4 .7 1 3 1 ,2 8 4 .7 6 1 .9 2 5 1 , 2 3 5 , 4 6 1 . 6 4 f i| l2 .8 0 6 ,9 6 5 1 ,1 9 1 ,2 9 2 .4 0 0 1 .1 0 0 ,4 0 2 .4 6 1
1 0 ,3 9 2 ,7 8 8
9 1 9 ,4 0 9 ,9 5 0
8 5 5 .0 1 6 ,7 4 8 2 4 ,6 3 7 .7 8 3 2 ,2 6 7 ,6 3 8 ,0 5 0 2 .3 0 1 ,4 6 8 ,2 9 4
6 6 6 ,1 4 0 ,1 0 0
7 ,6 7 3 ,5 2 9
6 0 0 ,9 9 9 ,9 8 0 | l9 ,9 8 1 ,6 7 5 1 , 7 7 1 , 4 4 3 , 7 0 0 j l , 7 9 2 , 4 0 7 , 6 1 1
3d qr 3 2 ,3 2 1 .0 3 0
J m’s
2 .8 7 0 ,3 1 1 ,9 7 5 ^ 2 ,6 9 1 ,4 7 8 ,3 7 6 5 7 ,4 2 6 ,4 2 3 5 ,2 3 0 , 3 7 4 , 1 5 o | 5 . l 9 4 , 2 7 8 ,3 6 6 .
1 3 0 1 6 1 9 7 l | l 1 6 7 3 ,4 3 9 ,S 0 O jl 1 3 0 9 ,9 8 5 ,3 6 3 11 5 6 5 6 2 7 9 5 [ l 4 3 0 2 ,1 7 0 ,5 7 5 |1 3 8 7 6 ,4 0 4 ,2 1 9
|VOL. LXXXXI.
THE CHRONICLE
920
MONTHLY CLEARINGS.
Clearings Outside New York.
Clearings. Total All.
1910.
1909.
%
1910.
1909.
%
S
s
$
$
Jan . . 17,143,348.295 14,052.390.538 + 22.0 5.894,272,314 6,168,090,843 + 14.0
Feb . . 13,111,985.258 11,260.311,084 + 16.4 4,900,845,197 4,372,005,760 + 13.4
Mch . . 15.021.382,183 12,623.772.489 + 19.0 5,975.198.570 5.130,934.369 + 16.3
1st qr. 45.276.715.736 37,936,474.111 + 19.3 16,830,315,081 14.077.630,972 + 14.7
April . 14,014.994.640 13,692,120.791 + 2.3 5,673,333.468 5,077,392,114 + 11.3
May.. 13.147,7i 0,447 13.006,573,040 + 1.4 5.310,7 0.8 0 4.910,322,048 + 8.8
•June.. 13.811.172.046 14,155,364,270 —2.4 5,446,850.03 ’• 5,043,660,966 +8.0
3d qr. 40,973,927,133 40,854,058.101 + 0.3 16.460,975,292 15,031,375,728 +9.5
6 raos. 86.250,642.869 78,790.532.212 + 9.5 33,291.290.373 29,709,006,700 + 12.1
July.. 13,285,479,380 13,469,003,652 —1.4 5,406,812,583 5,149,321,905 + 5.9
Aug . . 11,508,507,*>94 13,510,914,819 —14.8 5,046,2 ) i,86' 4,824,>77,700 + 4.6
Sept.. 11,361,607,620 13,542,009,782 — 10.1 5.130,652.674 5,063,692,833 + 1.3
3d qr. 36.155,714,694 40,522,048,253 —10.8 15,583,705,125 15,037,492,448 + 3.0
9 raos. 122400,357,563 119312,589,465i +2.6 48,875,055,498|44,746,499,148 + 9.2
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. i to sept, au
—September—
1909.
1908.
1907.
(000,000s
1910. 1909. 1908. 1907. 1910.
$
S
$
$
$
$
$
$
0,231 8,478 0.782 6,030 73,531 74,506 54,584 68,135
993 10,430 10,180 8,020 9,283
971
1,081 1,130
0,280
559 0,110 0,136 5,241
558
024
574
543 5,733
4,995 4,318 5,493
497
GOO
570
Philadelphia____
257 2,725 2,403 2,210 2,372
245
283
288
1,093
1,535 2,088
1,936
201
165
190
205
1,708
1,280
1,091
1,280
170
149
171
194
999
902
1,001
929
107
90
100
99
1,111
903
1,049
113
1,165
102
110
128
1,221
1,702
1,305
1,925
154
167
205
224
554
685
030
73
746
73
.60
70
095
009
549
692
08
53
04
07
807
808
726
058
113
100
97
114
507
476
422
505
42
50
45
49
536
557
494
692
02
50
57
75
430
393
418
48
481
52
48
47
Milwaukee______
460
365
490
43
595
51
39
02
Los Angeles.........
293
273
2.30
295
24
29
27
20
Providence______
438
425
51
027
539
62
51
71
.327
374
340
301
33
34
39
40
341
357
346
417
39
48
II
44
311
307
275
352
31
30
33
38
Indianapolis ____
303
362
335
291
37
33
42
30
214
282
257
239
25
24
28
27
210
183
170
171
15
10
10
10
Memphis .............
447
410
306
370
42
40
48
55
164
137
124
142
12
12
14
15
241
238
170
234
21
24
26
24
Salt Lake City___
Total................ 10,482 12,722 10,451 9,902 114,479 112,304 87,284 106,005
6,203
071 7,927 7,009 5,593
653
820
Other cities______
879
Total a l l ........... 11,361 13,512 11,124 10,573 122,400 119,313 92,877 112,208
Outside New York 5,130 5,064 4,312 4,513 48,875 44,747 38,293 44,133
DEBT STATEMENT SEPT. 30 1910.
The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued Sept. 30 1910. For statevient of Aug. 31 1910,
see issue of Sept. 17 1910, page 693; that of Sept. 30 1909, see
Oct. 30 1909, page 1120.
LIABILITIES.
ASSETS.
Trust Fund Liabilities—
$
Trust Fund Holdings—
$
Gold coin.................
895,178,609 00 Gold certlilcates______ 895,178,009 00
Silver dollars_________ 484,657,000 00 Silver certlilcates....... . 484,657,000 00
3,540,000 00
Silver dollars of 1890__
3,546,000 00 Treasury notes of 1890.
Total trust fund____ 1 383,381,069 00
General Fund HoldtngsGold coin and bullion. . . 45,149 ,300 70
49,212 .710 00
Gold certiUcates______
5,238 .487 00
Silver certlilcates.........
0,076 ,547 00
Silver dollars-------------3,307 ,364 82
Silver bullion...............
5,325 ,879 00
United States notes----8 ,775 00
Treasury notes of 1890..
29,810 ,242 47
National bank notes___
18,820 ,064 04
Fractional silver coin.. .
133 70
Fractional currency___
882 ,827 90
Minor coin.............. —
12 ,052 09
Bonds and Interest paid.
Total trust liabilities. 1,383,381,009 00
Gen. Fund Liabilities—National bank5% fund 24,910,739 40
Outstanding checks and
drafts ...................
10,410,558 30
Disbursing officers’ bal
ances .................
83,934,995 49
Post Office Department
account....................
5,074,928 29
Miscellaneous items___
1,704,842 48
Total gen. liabilities..
126,030,003 96
Tot. In Sub-Treasuries 103,844,383 72
In Nat. Bank Depositaries
Credit Treasurer of U. S. 3G,730,095 51
Credit U. S. dls. officers. 11,311,346 28
Total in banks_____
48,047,441 79
In Treas. of Philippine Islands—
Cash Balance and Reserve—
Credit Treasurer of U. S.
1,301,189 57
Credit U. S. dls. officers.
3,767,004 05 Total cash and reserve.. 240,984,015 77
Made up of—5,128,254 22 Available . . .90,984,015 77
Total in Philippines.
and
Reserve Fund—
Reserve Fund HoldingsGold coin and bullion.. . 150,000,000 00 Gold&bull .150,000,000 00
Grand total...............1,750,401,748 73
Grand total ....... .
1,750,401,748 73
T R E A S U R Y C U R R E N C Y H O L D IN G S .— 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. Sept. 1 ’ 10.
Holdings in Sub-Treasuries—
$
$
$
Net gold coin and bullion_______237,052,812 228,421,383 229,028,447
Net silver coin and bullion____ _ 16,754,880 19,290,005 19,602,003
10,719
11,040
8,470
Net United States Treasury notes
0,320,278
Net legal-tender notes................ 10,495,935 8,789,039
Net national bank notes_______ 28,588,759 30,000,030 35,598,345
Net fractional stiver................. . 19,992,380 20,377,827 20,300,532
930,737
1,173,228
931,109
Minor coin, &c____ __________
Total cash in Sub-Treasuries. 313,824,405 314,734,558
Less gold reserve fund............. 150,000,000 150,000,000
Cash. bal. in Sub-Treasuries... 103,824,405 104,734,558
Cash In national banks........... . 51,685,340 48,390,919
4,447,450 6,228,002
Cash in Philippine Islands------
Oct. I '10
$
244,362,011
14,622,399
8,775
5,325,879
29,810,242
18,820,004
895,014
312,463,601(i313,844,384
150,000,000 150,000,000
102,403,661 103,844,384
48,705,121 48,047,442
0,110,304
5,128,254
Net Cash In banks, Sub-Treas 219,957,195 219,354,139 217,339,140 217,020,080
Deduct current liabilities----- .119,466,411 126,997,915 127,815,938 126,030,064
Available cash balance......... .100,490,784
92,350,224
89,523,208
90,984,010
a 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.”
pXouctaryl (&o mmer ctaX^uglisTt^ltws
(From our own correspondent.)
London, Saturday, Oct. I 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
INTEREST-BEARING DEBT SEPT. 3) 1910.
of discount of the Imperial Bank of Germany was raised
A m o u n t ----------Amount Outstanding---------- from 4 % to 5 % .
Moreover, the President of the Imperial
Interest
Issued.
Registered. Coupon.
Total.
Bank, when proposing the advance, uttered a warning to
Title of Loan—
Payable.
$
S
S
S
•>„ Consols of 1930
. ...Q.-J. 646,250,150 611,675,000 4,574,550 646,250,150 speculators, and requested the assistance of the other banks
3s Loan of 1908-18
Q.-F. 198,792,660 42,001,910 21,283,520 03,945,460
It was, therefore, generally antici
3s Loan of 1925__ - 1. ! . .Q.-F. 162,315,400 98,040,400 19,843,500 118,489,900 in checking speculation.
4s pan Canal Loan 1900 Q.-N. 54,031,980 54,601,220
30,700 54,631,980 pated that the Bank of England would put up its rate of
2s, Pan. Canal Loan 1908.Q.-F. 30,000,000 29,575,020
424,380 30,000,000 discount. Furthermore, on Thursday the Bank of Belgium
Aggregate lnt.-bearing debt.. 1,091,990,190 867,100,780 40,150,710 913,317,490 raised its rate from 3 lA % t° ^ lA % There does not seem any reason to apprehend that money
Note.—Denominations of bonds are: Of $20, loan of 1908, coupon and registered
of S50, 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 1s; of $10,000, aU registered bonds; of will become either dear or scarce during the remaining three
months
of the year. There has been a good deal of gold
$50,000, registered 2s of 1930.
withdrawn from the Bank of England, it is true.
But the
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
\ug. 31.
Sept. 30.
withdrawals were expected. They have been mainly for
Funded loan of 1891, continued at 2%, called May 18
To begin with Russia, it has
■ 1900, Interest ceased Aug. 18 1900. _ .....................
$7,000 00
$7,000 00 E gyp t, Turkey and Russia.
Funded loan of 1891, matured Sept. 2 1891 — ....... .
23,650 00
23,050 00 for the second year in succession a good \vheat crop, which it
Loan of 1904, matured Feb. 2 1904_______________
14,450 00
13,450 00 is exporting very rapidly because of the bad harvests in
Funded loan of 1907, matured July 2 1907_________ 1,101,250 00 1,090,450 00
Refunding certificates, matured July 1 1907________
17,110 00
17,090 00 Central and Western Europe. To move and market the
Old debt matured at various dates prior to Jan. 1 1801
crop the note circulation of the Imperial Bank of Russia
and other Items of debt matured at various dates
subsequent to Jan. 1 1861_____________________
900,085 26
900,045 26 has increased enormously, amounting at Ihe date of the last
return— Sent 21— to £1 25 ,0 20,0 0 0 , being an increase in
Aggregate debt on which interest has ceased since
And although the
maturity..............................................
$2,069,545 26 $2,063,685 26 seven weeks of as much as £ 1 7 , 8 5 ! , 0 0 0
Imperial Bank has a gold reserve of £1 52 .6 35 ,000 , it has
DEBT BEARING NO INTEREST.
Aug. 31.
Sept. 30.
considered it wise to add to the reserve. A1 in a position
United States notes.............................................. $340,081,010 00 $346,681,016 00 to be well informed believe that, now that rates aic rising
Old demand notes__________________________
oo,282 «x)
bo,282 60
National bank notes—Redemption account------ 30,730,387 75
32,028,771 76 in Western Europe. Russia will refrain from taking more gold.
Fractional currency, less $8,375,934 estimated as
With regard to Egypt, it is unfortunately true that worms
lost or destroyed__________________________
6,858,435 93
6 ,808,435 93
and fog have done some damage to the cotton crop. But
Aggregate debt bearing no Interest-......... ....... $384,323,122 18 $386,221,500 19 the latest reports are that the damage is: slight, and the best
RECAPITULATION.
million
Increase ( + ) or estimates are that the crop will certainly reach
cantars, and may exceed that quantity.
As there has been
Classification—
Sept. 30 1910.
R W -31 1910.
Decrease I ).
Interest-bearing debt.............. $913,317,490 00 *913,317,490 00
- - - - - - - depression in Egypt, and the Egyptian banks parted with a
Debt Interest ceased................
2,063,085 20
2,069,545 26
.00
Debt bearing no interest_____
380,22i,506 19 384,323,122 18 +1.8J8.384 01 c*ood deal of their gold to the Indian banks, and likewise
sent back a considerable portion of what remained to Lon
Total gross d e b t..................$1,301,602,081 45$1,299,710,157 44 +$1,892,524 01
Cash balance In Treasury*.. 210,984,015 77
239,523,20/ o9 +1,400,808 18 don the general review now is that Egypt will require this
year something between five and six millions sterling.
Up
Total net debt............... ..$1,000,018,605 68 SI,000,186,919 85 +$431,715 83
to Thursday night she took actually £2 ,932,000.
therefore,
* Including $150,000,000 reserve fund.
The foregoing figures show a gross debt on Sept. 30 of it would seem that she will require something between two
S I,301,002,(58 1 45 and a net debt (gross debt less net cash and three millions sterling more. As we write, it is not
actually known how much will be withdrawn to-day, but
in the Treasury) of $1,060,618,065 68.
the rumors vary from half a million up to a million sterling.
TREASURY CASH AND DEMAND LIAB ILITIES.— If a million sterling is taken, there will remain, therefore, at
The cash holdings of the Government as the items stood the outside from 1)4 millions to 2 millions sterling to go.
September 30 are set out in the following:
O c t . 8 1 9 1 0 .]
THE CHRONICLE
Respecting Turkey, no definite opinion can be formed.
Turkey obtained a loan from the National Bank of Turkey
some time ago by means of which she has already taken
from the Bank of England £1 ,423 ,00 0. She is trying to
borrow in Paris, London and Berlin. She will succeed some
where, of course; but on what conditions, or when, cannot
be said. The general impression is that, though she may
take a certain amount of gold in addition to what she has
taken, she will not be in a position to take anything like
what would disturb the London money market.
During the first three days of the week, the Stock Exchange
was agitated by all sorts of rumors and by a general fall in
quotations. On Thursday morning, however, there was a
complete change, which has continued up to the present.
Apprehensions have subsided; hope has taken their place,
and there has been a general recovery in quotations. The
general impression now is that the long liquidation is really
over at last.
The India Council offered for tender on Wednesday 40 lacs
of its bills, and the applications exceeded 4 7 7 lacs at prices
ranging from Is. 4 l-32d . to Is. 4 1-lfid. per rupee. Appli
cants for bills at Is. 4 l-10d. per rupee were allotted about
3 0 % 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,
&c., compared with the last four years:
1910.
Sept. 28.
£
Circulation.______ 27,959,415
Public deposits___ 12,791,718
Other deposits____ 42,438,867
Govcmm’t securities 15,265.770
Other securities___ 30,429,817
Reserve,notes&coln 27,839,325
Coln&bull..both dep 37.348,740
Prop, reserve to liabuttles......... p. c.
50 7-16
Bank rate____ p. c.
*4
Consols, 2 'A p. c . . .
80 1-16
24 %d.
S ilver...................
Clear.-house returns 216,682,000
* Sept. .29 1910.
1909.
1908.
1907.
1906.
Sept. 29.
Sept. 30.
Oct. 2.
Oct. 3.
£
£
£
£
29,708,985 29,550,010 29,920,490 29,672,960
8,834,801
8,091,262 8,621,052 9,730,482
42,721,015 42,517,288 43,783,812 43,191,786
15,231,754 15,732,293 14,335,700 15,956,166
28.640,485 26,237,614 30,820,967 34,974.642
25,976,073 26,917,535 25,636,348 20.401,793
37,235,058 38,017,545 37.106.838 31.624.753
921
therefore favorable to better quotations, esneelally as the consumption of silver In
India will most probably Improve. The Bombay quotation Is Us. 62 13-16 per 100
tolahs for the October settlement. Arrivals—New York, £ 170,000; Mexico, £ 10,000;
total, £180,000. Shipments—Bombay, £250,000; Madras, £5,000; Port Said,
£1,170; Colombo, £1,130; total, £257.300.
The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
Three weeks—
IMPORTS.
1910-11.
1909-10.
5,963,600
8,313,200
1,694,000
1,235,200
77,630
158,520
------ 3,277,200
1,347.800
562,900
1908-09.
5,519,100
2,397,400
610,300
43,580
96,660
2,918,800
599,800
-cwt
Beans_____
Indian corn.
1907-08.
6,319,100
1.631,200
239.400
53,950
16,760
2,736,200
708,500
Supplies available for consumption (exclusive of stock on
September 1):
^
, ,
1910-11.
Wheat Imported..................cwt. 5,963,600
Imports of Hour.......................... 546.700
bales of home-grown----------------- 1,493,215
1909-10.
8,313,200
562,900
1,044,186
1908-09.
5,519,100
599,S00
1,604,504
1907-08.^
6.319,100
708,500
3.325,736
total ---------------------- -------- 8,003,515
Average price of wheat for week.. 30s. 2d.
Average price, season____ ______ 31s. 0d.
9,920,286
33s. 6d.
35s. 2d.
7,723,404
31s. 7d.
31s. 3d.
10,353,336
31s. 5d.
31s. 7d.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This iccek.
Wheat.................................. qrs. 12,320,000
I-lour, equal to..-.------------qrs.J
Malzc .................................. qrs. 1.305,000
Last ttwJt.Tjgf 1909.
12,215,000 1,470,000
1 115,000
200,000
1,260.000
840,000
1908.‘ V®
1,530,000
155,000
685,000
English Financial Markets— Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London,
Week ending Oct. 7.
Sal.
Mon..
7'lies. Wed.
Thurs. Fri.
Silver, per o z ............. . . _cf. . 24 15-16 24%
24 13-16 24%
24 15-16 25 1-16
Consols, new, 2 % per cents . 80 3-16 80%
80%
80 3-16 80 5-16
80H
]■or account_______
. 80 3-16 80%
80 5-16 80 3-1u 80%
80%
Rentes (In Paris).fr.. 97.27% 97.05
97.12% 97.15
97.22% 97.27%
50%
53%
48%
38% French
.
66%
66%
_
66%
Amalgamated
Copper
Co_
67%
66%
68%
2%
2 'A
4
4%
8%
b
Anaconda
Alining
Co____
.
8%
8%
8%
8%
8%
83 1-16
85%
82%
86%
103
104
103%
102%
103%
23 11-16(1.
23 %d. 30 13-16(1.
31 %d. Atch. Topeka & Santa Fe. .102%
103%
103%
Preferred_____________ .104
103%
103
103%
267,182,000 248,799,000 279.960.000 294.814.000
lit)
Baltimore & Ohio_____ ___ .109%
109%
109%
109%
110
93
93
Preferred. . . __________ - 90%
91
93
93
The rates for money have been as follows:
198%
199%
199%
198%
201
Canadian Pacific____ ____ .200
82%
83%
83
84
Chesapeake & Ohio. _____- 81%
81%
Sept. 30.
Sept. 23.
Sept. 16.
Sept. 9.
Chicago Great Western___ - 24%
24%
24%
24
25
25
Rank of England rate .........
4
3
3
3
Chicago Mllw. Ac St. Paul. . 125%
125%
127
125%
126%
126»
Open Market rate—
Denver
<
fe
Rio
Grande___
_32%
33%
33
33
33
32%
Bank bills—60 days . . . .
3 9-16
2 5-16
2%
2%
Preferred......... .............. . 75
75
75%
75
75
75
3 11-16 2 1l.3-16(ai 2% 2 13-16@2%
—3 months___
3
........................... 28
28
28
28%
28%
28%
3 11-16 3%@3 5-16 :3 5-16 @3 %
—4 months___
3% Erie.........
First preferred_____
. 47
47
47
47%
47%
47%
—6 months___
3 11-16 3 5-16® 3% ;3 5-16@3% 3 %('(' .; 7-16
Second preferred............ 36
36
38
37
37
37
I radc bills—3 months___
4
3% @3%
3% Illinois
8%
Central.....................135%
136
136%
136
136%
136
—4 months__
4(<i4%
3%
3% @3%
3% Louisville <fe Nashville..........149
148%'
149%
149%
149
149%
Interest allmeed for deposits—
Kansas <fc Texas. .. 33%
33%
34
33%
34%
36
By joint-stock banks____
2%
1%
1%
1% Missouri
Preferred................ ..... . 65
65
65%
65%
65
65%
By discount houses:
Nat.
RR.
of
Alex.
1st
pref.
■
72%
71%
72
72
72%
71%
2 y2
At call........................
1%
1%
1%
preferred_____ _ 32%
32%
32%
32%
33
33%
7 to 14 days.................
1% N.Second
2%
1%
1%
Y. Central ife Hud. Riv . 117
117
117%
117%
116%
117%
43
43
43
43%
42%
42 1
The bank rates of discount and open market rates at the N. Y. Ontario & Western.
Norfolk & Western_______ 100
100
101%
101%
101%
101%
chief Continental cities have been as follows:
Preferred....... ......... ...... . 92
92
92
91
91
91%
Northern Paclllc.................. •120%
Oct. 1.
120%'
122
122
120%
122
Sept. 10.
Sept. 24.
Sept. 17.
Rates oj
66%
Hank Open Hank Open . Hank Open Hank Open a Pennsylvania .................. ■ 66%
67
66%
66%
66%
75%
76
76
75%
75%
Interest at—
Rate. Market. Rate. Market. Rate. Market. Rate. Market. a Reading C o..................... . 75%
a First preferred.............. • 45%
45%
Paris...................... . 3
45
45
45
45
2%
3
2%
3
3
2%
2%
a Second preferred...........• 50%
5
Berlin. . . . . . . . ____
50%
50%
50%
50%
50%
4
4
4
3%
4%
4
3%
Hamburg................
5
Southern Paclllc________ ..118
118%
118%
118%
117%
4%
4
4
118%
4
3%
4
3%
5
Southern Ry. com________. 24%
Frankfort..............
24%
24%
24%
24%
4%
4
25]
4
3%
4
3%
3%
4
Amsterdam ______
3%
4
Preferred.......................... 56
56
57%
57
56
56 .
3%
4%
5
5
4%
4%
Brussels ................
Union Pacific____________.172
173
173
171%
172%
3
3%
2%
172%
2%
3%
2%
3%
Vienna ___ ______
Preferred.......................... 94
4 3 15-16
4 3 15-16
93%
94%
94
91,
94
4
4
4
3%
4% nom.
5
St. Petersburg.......
U. S. Steel Corporation____. 70%
nom.
72
72%
71%
71%
72
5
4% nom.
6
.Madrid................ ..
Preferred........................120%
4
4%
4
120%
121
121
121%
121%
4%
4
4
4%
Copenhagen --------5
4
5
Wabash ______ ________ . 17%
4
17%
17%
17%
5
17%
17%
4
4
5
38%
Preferred................ ......... 38%
39
39
38
38%
The quotations for bullion are reported as follows:
68
68%
Extended 4 s..................... 68
68%
67
67
a Price per share, b £ sterling.
GOLD.
Sept. 29. Sept. 22.
SILVER.
Sept 29. Sent. 22.
s. d.
s. d.
London Standard.
London Standard.
d.
d.
77 9% Bar sliver, line, oz
Bar gold, line, o z ... . 77 9
24 l; -16 24 11-16
76 5
" 2 mo. delivery oz _24 %
U. S. gold coin, o z .. . 76 5
24»%
76 5
Cake sliver oz__ -----26%
German gold coin, oz . 76 5
26
76 5
Mexican dollars..
French gold coin, oz . 76 5
nom.
G O V E R N M E N T R E V E N U E AN D E X P E N D IT U R E S .—
70 4
Japanese yen_____ . 76 4
©jommcrctal and fpiscjeUaixcints plexus
Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
<101.1 >. This week’s arrivals totaled £650,000, and after supplying India with Government receipts and disbursements for the month of
£100,000 the balance was taken by Turkey, Russia and Germany at 77s. 9%d., an September.
From previous returns we obtain the figures for
advance of 'Ail. on last week’s quotation. Next week we expect £888,000 from
South Africa. There have been further withdrawals In sovereigns for abroad from previous months, and in that manner complete the state
the Bank, £300,000 having gone to Egypt, £300,000 to Turkey, £250,000 to South ments for the 9 months of the calendar years 1910and 1909.
Messrs. Pixley & Abell write as follows under date of
Sept. 22:
Messrs. Pixley & Abell write as follows under date of
September 29;
GOLD.—Total arrivals this week amounted to £900,000, 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 21 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 2 IJsd. was quoted for both spot and forward. Some selling by both India
and China depressed prices yesterday, when 24%d. 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 aud other produce. The prospects of the market are
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
000s omitted.)
1910.
July. Aug.
1909.
Sept. 9 Mos. July. !
[^
§
America, £10,000 to Lisbon and £5,000 to Peru, while the Bank has received
£6,000 from 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, ciosc to-day
at 1-I6d. 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 Its. 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.
Sept. 9 A/os.
S
$
Receipts—
S
s
$
S
$
$
Customs................ ..... 25,051 29,279 27,558 246,818 28,673 28,590 27,335 85,888
Internal revenue*........ 29,582 22,963 25,937 226,640 21,208 19,719 21,877 64,158
Miscellaneous............. 4,185 2,727 2,489 38,499 3,910 2,773 3,136 10,961
Total receipts..........
Disbursements—
Civil and miscellaneous
W ar...........................
N avy..........................
Indians........................
Pensions____________
Postal dcllclency.........
Interest on public debt.
Panama Canal.............
53,818 54,969 55,984 511,957 53,791 |51,082 52,348 161,007
14,206
15,027
9,786
1,222
13,154
2,001
108
3,247 1,001
4,441 2,537 3,888
21,528
20,118
10,302
1,533
13,877
16,532
14,723
9,924
1,948
14,977
138,061
116,665
89,889
14,752
119,650
3,599
15,892
28,466
17,218
21,914
10,472
1,390
13,935
1,500
3,279
3,068
14,231
12,716
10,110
1,952
15,755
3,000
1,889
2,004
11,847
14,850
10,848
1,089
13,114
3,002
130
3,188
44,541
49,745
32,303
4,563
42,805
7,502
5,298
8,262
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 2.977 3,168 2,464^ 1,159 1,911 4,616
Total........................ 72,853 61,076 50,415 523,805 70,612 60,498 56,157 190,403
* Includes corporation tax of $22,957 for September and $23,586,934 for the six
months ihls year.
Note.—1909 receipts do not Include $30,731,008 proceeds of Panama Canal bonds
B A N K N O TE S— CH AN G ES IN TO TALS OF, A N D IN
D EPO SITE D BO ND S, &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. 1G 1909, page 973.
$22
1909-10
THE CHRONICLE
Bonds and Legal Tenders
on Deposit for
Bonds.
%
Sept. 30 1910 691,961,860
Aug. 31___ 689,813,710
July 3 1 ...'. 688,458 280
June 30___ 686,974,880
May 31___ 685,671,510
April 30___ 684,9 13,460
Mch. 31___ 681,675,710
Feb. 28
682,695,850
J.-’.n. 31 ... 681,518,909
Dec. 31 190 ) CS3.437.240
Nov. 30 ... OS1.0X9.070
Oct. 3 0 .... 679,515,740
Circulation Afloat Under—
Legal
Tenders.
Bonds'.
s
S
32,638,029
30,188,728
27,561,375
27,913,720
29,177,138
30,206,728
31,917,510
30.035.348
28,510,979
26.952,730
26,438,190
25,595,793
688,157,577
087,132,323
684,468,093
685,517,013
682,705,703
683,254,858
685,311.486
079,387,520
081,332,354
083,401.523
680,995,267
678,341,963
Legal
Tenders.
Total
5?
32,638,029
30,188,728
27,661,375
27,913.720
29,477,138
30,200.72,8
31,947,510
30,055,348
28,540.979
26,952,730
26,138,190
25,595,793
S
720,795,606
717,321,051
712,029,468
713,430,733
712,212,841
713,461.586
717.258,990
710,022.888
709,879.333
710.351,253
707,433.157
703.940,756
mo rouowmg snows tnc amount ot each class oi bonds
held against national bank circulation and to secure public
moneys in national bank depositories on Sept. 30.
U. S. Bonds n hi Sept. 30 to Secure—
Bonds on Deposit
Sep;. . 0 1910.
Bank
Circulation.
4% Loan of 1925........................__
3% Loan of 1908-1918__________
2% Consols of 1930......... ..............
2% Panama of 1936_______ ____
2% Panama of 1938......................
•1% Philippine Loans......................
4% Porto Rico Loans....................
3.65% District of Columbia______
Various, Territory of Hawaii.........
4% Philippine Railway............
Various, State, City and Railroad. .
Total...........................................
Public Deposits
in Banks.
20,426,660
15,284,540
578,290,950
51,224,700
26,735,020
691,961,860
Total
Held.
5>
4,789,000
4,148,300
25,014,900
2,798,000
1,405,000
4,748,000
1,084,000
872,000
603,000
146,000
3,043,000
25,215,650
19,432,840
603,305,850
54,022,700
28,140,040
4,748,000
1,081,000
872,000
663,000
116,000
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. I and their increase or decrease during month of August:
National Bank. Notes—Total Afloat—
Amount afloat Sept. 1 1910......................................... .................... .3717,321,051
Net amount Issued during September................................................
3,174,555
Amount ot bank notes afloat Oct. 1 1910.................... .................3720,795,606
Legaf-Tender Notes—
Amount on deposit to redeem national bank notes Sept. I 1910......... 330,188,728
Net amount of bank notes Issued In September................. ...............
2,449,301
Amount on deposit to redeem national bank notes Oct. 1 1910___ 332,638,029
F A IL U R E S FOR T H E T H IR D Q U A R T E R A N D SINCE
JA N . 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
1910.
No. of
Failures.
Amount of
Liabilities.
1909.
No. of
Failures.
Amount of
Liabilities.
Third Quarter—
New England States................ .....
Middle States ..............................
Southern States........... ................
Southwestern States......................
Central Western States.................
Far Western States........................
Pacific States..____ ___________
235
779
531
268
554
314
330
81,584,726
17,894,278
7,328,752
2,788,315
7,397,307
2,505,862
2,678,758
259
035
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
Aggregate United States..........
3,011
$42,177,998
2,835
$27,594,498
277
$2,246,071
307
$2,170,515
27
S5,904,722
12
$4,457,550
799
2,516
1,735
770
1,722
916
941
$6,478,851
70,934,326
23,486,188
9,609,666
28,021,244
8,843,843
7,043,186
836
2,155
2,042
844
1,976
886
927
$9,735,675
44,860,791
22,305.497
0,739,140
19,090,030
6,006,947
6,491,191
9,399 3154,417,304
9,666
$116,135,871
Dominion of Canada-------------Banking failures In United States
(not included in above)...........
Nine Months—
New England States......................
Middle States............. .................
Southern States...........................
Southwestern States................ .
Central Western States.................
Far Western States......................
Pacific States................................
Aggregate United States...........
Dominion of Canada......... .......
Banking failures In United States
(not Included In above)...........
686
$11,998,612
1,068
$9,819,774
76
$27,285,059
56
$19,919,104
The record of failures by quarters for the three quarters
of the last twenty-four years is as follows:
Years—
1887........
1888........
1889........
1890........
1891____
1892____
1893........
1894........
1895____
1890........
1897........
1898____
1899____
1900____
1901........
1902____
1903.......
1904........
1905____
1906........
1907........
1908____
1909........
1910........
First Quarter.
No. of
Failures.
Amount of
Liabilities.
3,007
2,948
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
3,525
$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
33,022,573
31,703,486
33,731,758
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.
Amount of
Liabilities.
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
$22,976,330
20,229,370
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
3 1,124,188
25,742,080
28,902,967
37,193,071
48,608,642
44,080,423
39,160,152
Third Quarter.
No. of
Failures
1,938
2,361
2,276
2,196
2,754
1,984
4,015
2,868
2,792
3,757
2,881
2.510
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.
373,022,556
22,114,250
30,227,045
35,452,430
44,302,494
18,659,235
82,409,821
29,411,196
32,167.179
73,285,349
25,001,188
25,104,778
17,040,972
27,119,996
24,756.172
25,032,634
34,858,595
32,168,296
20,329,443
21,996.163
40,407,686
55,302,690
27,594,498
42,177,998
[VOL. LXXXXI.
STO CK OF M O N E Y IN T H E C O U N T R Y .— 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.
-Stock of Money Oct. 11910---- Money in Circulation—
In United
Held in
Oct. 1
Oct. 1
States.
Treasury, d.
1910.
1909.
" S
8
Gold coin and bullion ..*1,683,398,050 195,149,301 593,070,080 598,443,000
Gold certificates a .. _
................ 49,212,710 845,966,950 805,517,159
Standard silver dollars.
504,731,508 6,076,547
73,997,961
73,578,729
Sliver certificates a___
5,238,487 479,418,513 479,090,831
Subsidiary silver_____
bl55,317,506 18,820,064 136,497,442 138,448,872
Treasury notes of 1890.
3,546,000
8,775
3,537,225
4.063,835
United States notes___
346,681,016 5,325,879 341,355,1.37 342,402,092
National bank notes. __
720,795,600 29,810,242 090,985,364 679,165,508
Total------------------------ 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, 834 88.
* A revised estimate by the Director of the Mint of the stock ot gold coin was
adopted In the statement for Aug. I 1907. There was a reduction of §135,000,000.
a l or 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,<00,000.
■
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
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
A P P L IC A T IO N S T O C O N V K R T IN T O N A T I O N A L B A N K S
APPROVED.
T h e B a n k o f L iv e rm o re , L iv e rm o re , C a lifo rn ia , Into “ T h e F a rm ers &
M erchants N ation a l B a n k o f L iv e r m o r e .”
C apttal § 5 0 ,0 0 0 .
C H A R T E R S IS S U E D T O N A T I O N A L B A N K S S E P T E M B E R 22 T O
S E P T E M B E R 28.
9 .8 5 1 —
“ T h e D ick so n C ity N ation a l B a n k ” , D ick son C ity , P e n n sylva n ia
C a p ital, $50 ,0 0 0 . Jo h n J . A ltk e n , P residen t; T h e o . I I . W e lla n d ,
V ice -P re sid e n t; Chas. M . Carr, Cashier.
9 .8 5 2 —
“ T h e F a rm ers’ N ational Bank- o f N ew C a s tle ,” N ew Castle Indiana
C a p ital, $ 10 0,00 0. C. W . M o u ch , P resid en t; W . F . B v rk e t v i c e
P residen t: F red S ain t, Cashier; J o h n K . B u rgess, A ssistant Cashier
9 .8 5 3 —
T h e F a rm ers' N ation a l Bank o f C rystal L a k e , C rystal L a ke Iow a
C a pital, $2 5 ,0 0 0 .
II. R . K lu v e r, P residen t; Eel. P eterson anti
„
-.
J ' D. Nelson. Vice-Presidents; W. P. Jones, Acting Cashier.
9.8 5 4 — T he O ln ey N ation a l B ank o f H a rtfo rd , H a r tfo r d , M ich igan . C a pital,
$ 25 ,000 .
H . M . O ln e y, P re sid e n t; E . B urt J c n n e y , V ice -P re sid en t
and Cashier.
9.8 5 5 —
“ T h e First N ation a l B a n k o f S t e v e n s o n ,” S te v e n so n , A la b a m a .
C a pital, $25 ,000 . W . J . T a lly , P resid en t: J . Z . S ch u lzt an d O . L .
B u n n , V ice-P resid en ts; J . Z . S ch u ltz , Cashier.
9.8 5 6 — ‘T h e O k la h om a S to c k Y a rd s N a tio n a l B a n k o f O k la h o m a C it y ,”
O k la h om a C ity .
O k la h o m a . C a p ital,
$25 0 ,0 0 0 . T h o m a s
P.
M artin J r ., P residen t; E . F . B ls b e c , V ice -P re s id e n t; R . J . R o b b .
Cashier.
9.8 5 7 —
“ T h e F irst N a tion a l B a n k o f C a to ,” C a to , N ew Y o ilc . C a p ita l,
$25 ,0 0 0 . J . W . H a p e m a n , P residen t; G e o rg e A . C o o p e r, V ic e
P re sid e n t: D uane W y c k o ir , C ashier.
9 .8 5 8 —
“ T h e First N a tio n a l B ank o f V e b le n ,” V c b le n , S o u th D a k o ta ,
C a pital, $25 ,0 0 0 . J . I I . M o v lu s , P resid en t; B en . F . H a m m crs ta d ,
V ice -P re s id e n t: G eo. F . A n d e rso n , Cashier; E d . J . R o d ln e , Assistant
Cashier.
9 .8 5 9 —
" T h e S o m e rv ille N a tio n a l B a n k ,” S o m e r v ille , O h io. C a p ita l,
$25 ,0 0 0 . W . T . H a n c o c k , P resid en t; J . W . C u m m in gs, First V ic e
P residen t; Charles K a p p , S e co n d V ice -P re s id e n t; W . B . B ell, Cashier.
9 .8 6 0 —
“ T h e First N ation a l Bank o f C o v in g t o n ,” C o v in g to n , In d ia n a .
C a p ita l, $50 ,0 0 0 . W . W . L a y to n , P re sid e n t; A . T . ColIIson an d
I . H . D lck e n , V ice -P re sid e n ts; H . E . M a y e r, 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. & Trust Co_____ 497H $100,000 Independent Union Tel.l
15 N. Y. Prod. Ex. Bartk.__
16143
Co. of Buffalo 1st 5s, 1927___ I
1,600 United Copper Co. com.4 j to 4 43 $100,000 Nat. Telephone Corp. )$5,000
of Va. 1st 5s, 1959, Jan. 19101
Bonds.
coupons attached................ .. j
$5,000 Union Ry. 1st 5s, 1942.
$8,000 La France Copper Co. 1st 6s,
F. & A........................... 10043 & lot.
1932. Jan. 1910coup, attached. 10
DIVIDENDS.
The following shows all the dividends announced for the
uture by large or important corporations:
Dividends announced this week are -printed in italics.
Name of Company.
Per
Cent.
When
Payable.
Railroads (Steam).
Atch. Topeka it S. Fe, com. (qu.) (No. 22) I'A Dec.
2
Nov.
Central HR. ot New Jersey (quar.)___
Clev. Cine. Chic. & St. L., pref. (quar.)
1 « Oct.
Del. Lackawanna & Western (quar.).. 2H Oct.
Erie & Pittsburgh (quar.)........................
1H Dec.
5
Nov.
Evansville & Terre llaute common____
Preferred.............................................
2H6 Oct.
Georgia RR. & Banking (quar.).............
2 H Oct.
Georgia Sou. it Florida, 1st it 2d pref___
2 'A Nov.
Nov.
Great Northern (quar.)...........................
l
Kansas City Southern, pref. (quar.)__
Oct.
Minn x. p.its -i M.,co n itnref /No. 15) 3 X oct.
Nat. Rys. of Mexico, Is/ pref. (extra) ..
1
N. Y. Central <&Hudson River (quar.)__
IX Oct.
Norfolk & Western, preferred (quar.) ..
1
Nov.
Northern Pacific (quar.)
Wi
Philadelphia & Trenton (quar.)
2X Oct.
Pitts. Cln. Chle. & St. L., com.Apt.(qu.) 04 Oct.
Reading Co., second preferred
........
2
Nov.
St. Louis & San Fra/i., 1st pref. (quar.).
1
Nov.
Toledo St. Louis & Western, pref. (quar.)
1
Oct.
United New Jersey RR. & Canal (quar.). 2X Oct.
3
Ulica Chenango it Susq. Valley, guar___
Nov.
Warren, guaranteed................................. 3X Oct.
1
Oct.
Western Maryland, preferred (quar.)___
Slrcct and Electric Railways.
Aurora Elgin & Chic. RR., com. (quar.)
X Oct.
Preferred (quar.)......... ......................
IX Oct.
Binghamton (N. Y .) R y..........................
2 'A Oct.
Boston Suburban Elec. Cos., pref. (quar.) $1
Oct.
2
Brooklyn City RR. (quar.).......................
Oct.
Cln. Newport &Cov. Lt. & Tr., com .(qu.)
IBS Oct.
Preferred (auar.).................................
i x Oct.
Dallas El. Corp., Is/ pref. (No. 3)...........
3
Oct.
Second preferred (No. 6)......................
1
Oct.
2
Denver & Northwestern (quar.).............
Oct.
Gary & Interurhan Ry. (quar.) . .
1
Oct.
East St. Louis it Sub., pref. (quar.) (No 18) IX Nov.
Macon Ry. it Light, common__
IX Sept.
Preferred.............................
3
Sept.
Books Closed.
Days Inclusive.
1 Holders of rec. Nov. 4a
1 Holders of rec. Oct.21a
20 Oct. 1 to Oct. 26
20 Holders of rec. Oct. 3a
10 Holders of rec. Nov,30a
1 Sept. 18 to Oct. 17
15 Holders of rec. Sept. 15a
15 Oct. 2 to Oct. 14
2 Holders of rec. Oct. 6
1 Holders of rec. Oct.18a
15 Holders of reo. Scp.30a
Id i lohlers of rec. Sept. 30a
15 Holders of rec.Sept.22a
18 Holders of rec. Oct.31a
1 Holders of rec. Oct.13a
10 Oct. 1 to Oct. 10
25 Holders of rec. Oct.15a
10 Holders ot rec. Oct 22a
1
15 Holders of rec. Sept 30a
10 Sept. 1 to Sent .in
• I Holders of rec. Oct 15a
15 Holders of rec. Oct. 5a
20 Get. 12 to Oct. 19
10 Holders of rec.Sept.23a
10 Holders of rec.Sept.23a
I
15
15
15 Oct. 1 to Oct. 15
15 Oct. 1 to Oct. 15
10 Holders of rec. Oct. 5a
10 Holders of rec. Oct. 5a
10 Holders of rec Oct. la
10 Oct. 1 to Oct. 10
1 Holders of rec. Oct. 15a
30
30 ....................................
THE CHRONICLE
O c t . 8 1910. j
Name of Company.
Per
Cera.
When
Payable.
Books Closed.
Days Inclusive.
933
Statement of New York City Clearing-House Banks.— The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending Oct. 1.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
For definitions and rules under which the various items are
made up. see “ Chronicle,” V . 85, p. 836.
Strectand Electric Railways (Concluded).
Holders of rec Oct. la
Oct.
Manchester (N.H.) Tr.,L.APow. (quar.)
Oct. 9 to Oct. 18
Oct.
Northwestern El. Hit., Chic., pref. (qu.).
Holders of rec, Sept. 30
Oct.
Ottumwa (la.) Ily. & Light, pref. (quar.)
Philadelphia Company, common (quar.)
Holders of rec, Oct. la
Nov.
Nov.
Holders of rec, Oct. la
Common (extra).................................
Oct.
Oct. 1 to Oct. 10
Porto Rico Rys., pref. (quar.)................
Nov.
Holders of rec Oct. 15
Rio de Janeiro Tram., Lt. A Pow. (qu.)..
Oct.
Holders of rec Sep.22a
Seattle Electric Co., com. (qu.) (No. 8)
Oct.
Holders of rec Sep.24a
Syracuse Rapid Transit, pref. (quar.)----We omit two ciphers (00) in all cases.
Nov.
Toledo Howling Green A Sou. Tr., p/.(qu.)
Oct. 21 to Oct. 31
Oct.
West Penn Traction, pref. (quar.)-------Oct. 8 to Oct. 10
Banks.
Capital.
Surplus. Loans.
Specie. Legals. Deposits. ReOct.
Sept.
30
Youngstown A Ohio River RR., pref-------Holders of rec
00* omitted.
Average. Average. Average. Average. t’V6t
Banks.
New York'Produce Exchange (No. 51)----Holders of rec. Oct. 8
S
s
s
S
$
$
Trust Companies.
%
of N. Y_. 2,000,0 3,520,3 20,001,0 3,573,0
884,0 17,655,0 25.2
Union (quar.)__ 1_______ ______ ____ 12*4 Oct.
Oct. 0 to Oct. 9 Bank
Manhattan Co. 2,050,0 4,184,5 33,400,0 9,389,0 1,715,0 39,500,0 28.0
Eire insurance.
___
Merchants’
2,000,0
1,789,6
19,646,0
3,877,0
1,162,0
19,864,0 25.3
Oct.
North River........................... .................
Oct. 4 to Oct. 9 Mech. & Metals
6,000,0 7,988,0 53,554,3 11,855,4 1,104,0 51,747,8 25.0
Miscellaneous.
1,500,0 5,874,2 25,178,8 5,134,8 1,858,0 25,818,7 27.0
Oct.
Alliance Realty (quar.)........... . .............. 2
Holders of rec. Oct. 5 America_____
Phenlx...........
1,000,0
724,9
6,888,0 1,348,0
326,0
5,919,0 29.0
Oct.
Amer. Agrlcul. Chem., pref. (No. 23)-- 3
Holders of rec. Sept 30
............... 25,000,0 31,519,7 182,396,9 40,767,1 6,040,0 174,280,7 26.8
Oct.
1
Amerlcan Chicle, common (monthly)----Oct. 15 to Oct. 20 City
3,000,0 6,494,7 28,700,0 4,641,8 1,961,5 26,236,0 25.3
Amer. Light A Traction, com. (quar.)----Oct. 14 to Oct. 31 Chemical_____
2*4 Nov.
Merchants’
Ex.
600,0
582,0
6,845,4 1,746,5
128,2
7,068,3 20.5
Common (payable in common stock)----- 2Hstk Nov.
Oct. 14 to Oct. 31 Gallatin______
1,000,0 2,533,2
8,663,3 1,261,5
6,854,5 25.9
517,2
Oct. 14 to Oct. 31
Preferred (quar.)...............................1*4 Nov.
& Drov.
300,0
158,0
2,822,6
471,9
72,3
2,315,7 23.4
Oct.
Sept. 22 to Oct. 20 Butch.
American Locomotive, pref. (quar.)-----IX
Greenwich___
500,0
832,9
7,613,8 1,835,5
8,308,5 24.2
182,0
1
Nov.
Oct. 21 to Nov. 10 American Exch.
Amer. Malt Corporation, preferred.........
American Malting, preferred.................. 02c. Nov.
Oct. 21 to Nov. 10 Commerce........ 5,000,0 4,439,8 35,231,6 6,478,4 2,108,1 34,124,8 25.2
25,000,0 16,497,4 151,803,8 28,062,8 6,995,8 132,279,3 26.5
Holders of rec. Sept.30a
Amer. Seeding Machine, pref. (quar.) —
1*4 Oct.
3,000,0 2,726,2 14,801,5 1,692,1 1,109,1 11,056,9 25.3
American Shipbuilding, preferred (quar.) I X Oct.
Sept. 18 to Oct. 10 Mercantile___
Pacific
...........
500,0
913,1
3,628,3
500,7
266,8
2.940,1 26.0
Oct.
1
Amer. Smelt. & Rfg., com. (qu.) (No. 28)
Oct. 1 to Oct. 0 Chatham_____
450,0 1,059,7
7,929,5
990,3 1,149,9
8,286,6 25.8
2
Oct.
Holders of rec. Sept. 30a People’s ..........
Amer. Teleph. & Telcgr. (quar.)...
200,0
470,3
2,060.1
132,4
2,154,6 24.2
390,1
1
Oct.
Amcrican Type Founders, com. (quar.)..
Holders of rec. Oct 10a Hanover_____
Oct.
Holders of rec. Oct. 10a Citizens’ Cent.. 3,000,0 11,910,1 69,636,5 14,310,3 7,124,3 79,922,7 26.8
IX
Preferred ........... ...............................
2,550,0 1,740,7 21,061,9 4,762,7
307,4 19,945,6 25.0
American Woolen, pref. (quar.) (No. 40) I X Oct.
Sept. 24 to Oct. 0 Nassau______
500,0
538,2
7,183,5
612,9 1,098,3
7,811,3 21.9
Anaconda Mining (quar.) (No. 40)-------- 50c. Oct.
Holders of rec. Oct. 0a
8,642,2 1,373,7
8,586,9 27.2
964,5
Associated Gas & Elec., pref. (quar.)----Sept. 30 to Oct. 2 Market & Fult. 1,000,0 1,720,7
IX Oct.
226,6 12,812,4 25.0
Associated Merchants, 1st pref. (quar.)..
Holders of rec. Oct. 7a Metropolitan _. 2,000,0 1,478,9 12,389,3 2,977,9
IX Oct.
Exchange. 3,000,0 5,254,1 44,788,0 7,779,0 4,931,0 52,008,0 24.4
Oct.
Flrst preferred (extra)........... .
Holders of rec. Oct. 7a Corn
X
& Traders’ 1,500,0 7,545,9 25,672,0 3,729,0 2,332,0 23,237,0 26.0
Oct.
Second preferred (quar.)...........
Holders of rec. Oct. 7a Imp.
IX
5,000,0 12,524,1 81,484,0 20,038,0 1,215,0 84,566,0 25.1
Oct.
Second preferred (extra)----------Holders of rec. Oct. 7a Park...............
X
East
River----250,0
108,5
1,527,3
225,4
85,6
1,390,2 22.3
2
Oct.
Bell Telephone of Canada (quar.).
Holders of rec. Sep.24a
5,000,0 5,624,9 28,971,0 4,947,0 2,300,0 28,047,0 25.8
Boll Telephone of Pennsylvania (quar.)..
Oct.
IX
Oct. 0 to Oct. lO Fourth______
1,000,0 2,080,9 12,348,0 2,798,0
197,0 11,848,0 25.2
ButteElec. & Pow., pref. (quar.) (No. 37) I X Nov.
Holders of rec. Oct. 15a Second ...........
Canadian West!nghouse,Ltd.(qu.)(No.23) I X Oct.
Oct. 1 to Oct. 9 First________ 10,000,0 20,589,9 107,836,3 22,408,8 2,236,3 97,763,4 25.2
Central Coal & Coke, common (quar.)...
Oct.
IX
Oct. 1 to Oct. 10 Irving E xch... 2,000,0 1,655,0 22,803,3 5,414,9 1,145,6 24,323,3 26.9
-------250,0
815,9
3,430,0
851,0
59,0
3,604,0 25.2
Preferred (quar.)________ ____
Oct.
IX
Oct. 1 to Oct. 10 Bowery
N .Y . County..
500,0 1,657,4
7,687,2 1,246,0
622,9
7,618,4 25.0
Oct.
Central & S. A. Teleg. (quar.)____
Holders of rec. Sept. 30a German-Amer..
ix
750,0
689,5
4,102,51 837,1
206,1
3,938,6 26.4
1
Oct.
Chicago Pneumatic Tool (quar.)...
Oct. 16 to Oct. 25
5,000,0
Chase..............
7,700,8
78,150,0
15,368,3
4,715,5
24.0
83,659,2
2
Clallin (II. B.), common (quar.)...
Oct.
Holders of rec. Oct. 7a
100,0 2,109,4 12,484,8 2,356,3 1,168,9 13,934,4 25.3
Consol. Gas, El. L. & P., Balt., common 2
Nov.
Sept. 25 to Oct. 3 Fifth Avenue..
German Exch..
200,0
895,2
3,960,7
470,0
468,5
3,887,9 24.0
Consolidated Ice, preferred (q tar.)---------i x Oct.
200,0 1,016,6
4,584,3
853,7
510,9
5,248,7 25.9
1
Corn Products Refining, pref. (quar.)----Holders of rec. Sep.30a Germania........
Oct.
1,000,0 1,542,5 15,081,2 3,456,2 1,318,0 16,812,9 28.3
Del. Lackawanna & Western Coal (quar.) 2 X Oct.
Holders of rec. Oct. la Lincoln ______
1,197,7
1,000,0
Garfield...........
8,200,7
1,844,1
243,3
25.5
8,173,8
Detroit Edison (quar.).-........................
Oct.
Holders
of
rec.
Oct.
la
IX
499,9
250,0
3,387,0
568,5
330,9
3,514,6 25 5
Distillers’ Sec. Corp. (quar.) (No. 32)..
Oct.
Sept. 29 to Oct. 19 Fifth ............. .
X
1,000,0 2,078,2 10,841,6 1,128,3 1,497,4 10,452,0 25.1
Distilling Co. of America, pref. (quar.)..
1
Oct.
Sept. 29 to Oct. 19 Metropolis___
4,291,01 945,0
200,0 1,019,2
225,0
4,736,0 24.7
du Pont(E.I.)de Nemours Powd., Df.(qu.) IX Oct.
Oct. 16
to Oct. 25 West Side........
1,000,0 1,960,2 19,882,0 4,310,0 1,652,0 22,887,0 26.0
Eastman Kodak, common (extra)......... 10
Holders of rec. Oct. 3 la Seaboard.........
Dec.
839,4 19,121,1 23.5
1,000,0 2,771,2 18,936,2: 3,666,9
Electrical Securities Corp., preferred___
Holders of rec. Oct.29a Liberty ...........
Nov.
8,094,2 2,146,2
241,7
9,502,0 25.1
757,1
General Electric (quar.)--------------------Oct.
Holders of rec. Sept. 3a N. Y.Prod. Ex. 1,000,0
319,0 18,310,0 20.1
782,2 14,769,0 4,468,0
1,000,0
Goldfield Consolidated Mines (quar.)___ 30c. Oct.
Holders of rec. Sept. 30a State...............
6,333,1 25.8
5,963,8 1,110,4
527,0
320,4
1,000,0
Extra ................................................. 20c. Oct.
Holders of rec. Sept. 30a 14th Street___
822,0
760,0
6,062,0
6,168,0 25.6
392,1
1,000,0
Harblson-Walker Refrac., pref. (quar.)...
IX Oct.
Holders of rec. Oct. 10 Coal & Iron...
Illinois Brick (quar.)........... ..................
2 Oct.
Oct. 6 to Oct. 16
Intercontinental Rubber, com. (No. 1)..
1
Nov.
Holders of reo. Oct. 15 Totals, Average! 132,350,0 193,297,9 1285,410,4 201,607,6 67,815,3 1276,574,0 25.8
Inter. But'hole Sew. Mach. (qu.)(No.52) 1
iOct. 15 Holders of rec Oct. 6
International Harvester.com.(qu.)(No.3) 1
Oct. 15 Holders of rec 8ept.24a Actual figures Oct. 1 ... ............. 1278,150,2 254,155,6 66,546,8 1262,884,2 25.4
1
International Nickel, common (quar.)..
iDeo.
1 Nov. 12 to Dec. 1
Comraon (extra)..................................
1 Nov. 12 to Dec. 1
*4 Dec.
On the basis of averages, circulation amounted to $47,189,600 and United State*
Preferred (quar.)...................... ..........
1*4 Nov. 1 Oct. 14 to Nov. 1 deposits (included In deposits) to $1,550,400; actual figures October 1, circulation
International Paper, pref. (quar.).........
*4 Oct. 15 Oct. 6 to Oct. 26 $47,433,900; United States deposits, $1,439,200.
Internat. Smokeless Pow. & Chem., pref. 4
Nov. 15 Holders of rec Nov. 5a
Oct. 21 to Nov. 1
Ini. Steam Pump, pref. (quar.) (No. 40)..
Nov.
I X
The State Banking Department also now furnishes weekly
Oct. 1 to Oct. 17
2
La Rose Consolidated Mines (quar.)___
Oct.
Holders of rec. Oct. 15a returns of the State banks and trust companies under its
Massachusetts Gas Cos., common (quar.) 1
Nov.
Holders
ol
rec.
Oct.
la
Massachusetts Ltg. Cos. (quar.) (No. 28).
Oct.
I X
charge. These returns cover all the institutions of this class
Oct. 10 to Oct. 15
Mexican Lt. & Pow., Ltd. com. (quar.)..
1
Oct.
Holders ol rec. Sept. 30a in the whole State, but the figures are compiled so as to
Mexican Telegraph (quar.)........... .
Oct.
2 X
1 Oct. 16 to Nov. 1 distinguish between the results for New York City (Greater
Michigan State Telephone ,pref. (quar.)..
Nov.
I X
National Biscuit, com. (quar.) (No. 48)..
Get. 15 Holders of rec. Sep. 28a
I X
National Carbon, common (quar.).
1*4 Oct. 15 Oct. 6 to Oct. 16 New York) and those for the rest of the State, as per the
National Fire Proofing, pref. (quar.)___
1
Oct. 15 Holders of rec. Oct. 3 following;
New York Air Brake (quar.).........
1*4 Oct. 28 Holders of rec. Oct. 6a
For definitions and rules under which the various items are
New York Dock, preferred........... .
2
iOct. 15 Holders of rec. Oct. 1
Niagara Falls Power (quar.)........
2
<
Oct. 15 Holders of rec. Oct. la mado up, see “ Chronicle,” V . 86, p. 316.
Nlplsslng Mines (quar.).................
5
>
to Oct. 17
Oct 20 Oct. 1
STATE BANKS AND TRUST COMPANIES.
Extra ...................... - ...............
2*4 ■
Oct. 20 Oct. 1
to Oct. 17
Northern States Power, prof, (quar.)----I X
'Oct. 15 Holders of reo. Sept. 30
Nova Scotia Steel A Coal, com. (quar.)..
I X
'Oct. 15 Holders of reo. Sept. 30
Trust Cos.
State Banks
Trust Cos.
State Banks
Preferred (quar.)...........................—
2
-Oct. 15 Holders of rec. Sept. 30
outside of
outside of
in
in
Week ended Oct. 1.
Oklahoma Gas & Elec., pref. (quar.)..
Oct. 15 Holders of rec. Sept. 30
I X
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
Otis Elevator, common.................
1*4 Oct. 15 Holders of rec. Sept. 30
Preferred (quar.)......................
Oct. 15 Holders of reo. Sept. 30
I X
$
Pacific Telcp. & Teleg., pref. (quar.)----1*4 Oct. 15 Oct. 1 to Oct. 15
9,775,000
25.175,000
65,406,000
*9,023,000
Pay-as-You-Enter Car Corp., pref. (qu.) I X Oct. 15 Holders of rec. Oot. 1 Capital as of Aug. 31----Pennsylvania Lighting, pref. (quar.).. I X Oct. 15
10,098,115
38,315,700 172,375,500 *10,796,145
Pennsylvania Salt (No. 95).........
6
Oct. 15 Holders of reo. Sept. 20 Surplus as of Aug. 31----Oct. 25 Holders of reo. Oct. 15a
Pittsburgh Coal, pref. (quar.)----I X
94,745,400
137,875,300
299,512,800
1,012,306,900
Loans
and
Investments..
Pope Manufacturing, pref. (quar.)
1*4 Oct. 31 Holders of reo. Oct.21a
+ 201,400
+ 185,700
Change from last week. +2,979,700 +7,319,200
2
Oct. 15 Sept. 25 to Oct. 16
Procter & Gamble, pref. (quar.)..
2
Oct. 15 Holders of rec. Oct. la
Quaker Oats, common (quar.)----114,219,800
49,971,600
Specie____
__________
Common (extra)........................
*4 Oct. 15 Holders of rec. Oct. la
+257,900
+333,800
Change from last week.
Preferred (nuar.)......................
1*4 Nov. 30 Holders of rec. Nov. la
Oct. 15 Holders of rec. Oct. 5
Reece Buttonhole Mach, (qu.) (No. 98) 2
12,843,100
24,517,300
Oct. 15 Holders of rec. Oct. 4 Legal-tenders & bk. notes
Rhode IsId. Perk. Horseshoe, pref. (quar.). 1
+ 149,600
—100,900
Change from last week.
San Diego Cons. Gas A Elec., pref.(qu.) I X Oct. 15 Holders of rec. Sept. 30
l
Oct. 20 Holders of rec. Oct. 7
Shawlnlgan Water & Power (quar.).......
99,980,800 143,625,500
..................
346,963,300 1,086,473,800
Southern New England Telephone (qu.)
1*4 Oct. 15 Oct. 1 to Oct. 15 Deposits
—141,000
+79,800
—934,500
Change from last week. +3,303,300
2
Oct. 31 Oct. 26 to Oot. 31
Standard Milling, pref. (No. 15)...
3
Oct. 10
Standard Underground Cable (quar.)
19,727,300
20,629,700
Reserve on deposits..
96,443,300 133,728,300
Texas Company (quar.)..................
2*4 Sept. 30
—288,500
+230,600
+ 510,200
Change from last week.
—65,300
2
Oct. 17 Oct. 6 to Oct. io
Trow Directory Pig. A Bookbinding.
Oct. 15 Holdersot reo. Sept. 30a P. C. reserve to deposits.
Union Bag & Paper, pref. (qu.) (No. 40). 1
14.3%
21.3%
28.4%
16.1%
Oct. 10 Oot. 1 to Oct. 10 Percentage last week___
Union Switch & Signal, com.&pref.(qu.) 3
14.6%
16.3%
21.2%
28.5%
United Cigar Stores, Corp. of(qu.)(No.5) 1*4 Oct. 15 Oot. 2 to Oct. 16
Extra ............................... .......
60o Oot. 15 Oct. 2 to Oct. 16
1
United Dry Goods, com. (quar.)___
2
Nov.
+ Increase over last week. — Decrease from last week. *As of June 30.
United Electric Securities, preferred___ $3.50 Nov. 1 Holders of rec. Oct.22a
Note.—"Surplus” Includes all undivided profits. "Reserve on deposits” In
United Fruit (quar.) (No. 45)...............
Oct. 15 Holders of reo. Sept. 27a eludes,
2
for both trust companies and State banks, not only cash Items, but amounts
Extra dividend................................
Nov. 4 Holders of reo. Oct. 24 due from
10
reserve agents. Trust companies In New York State are required by
United Gas Improvement (quar.).........
2
Oot. 15 Holders of reo. Sept. 30 law to keep a reserve proportionate to their deposits, the ratio varying according to
United Cigar Mfrx., common (quar.)___
1
Nov.
Holders
of
reo.
Oct.
25a
I X
location
as
shown below. The percentage of reserve required Is computed on
U. S. Rubber, 1st pref. (quar.)________
2
Oct. 31 Holders of rec. Oot. 15a the aggregate of deposits, exclusive of moneys held In trust and not payable within
Second preferred (quar.)....................
Oct. 31 Holders of rec. Oct.15a thirty days, and also exclusive of time deposits not payable within 30 days, repre
I X
U. S. Smelt,Itefg., & Milling, com. (qu
1
Oct. 15 Holders of reo. Oct. 3 sented by certificates, and also exclusive of deposits secured by bonds of the State
Preferred (quar.)------ ---------- -------Oct. 15i Holders of reo. Oct. 3 of New York. The State banks are likewise required to keep a reserve varying
I X
Van Dyck Estate, pref. (quar.)_____
.
1
1*4 Oct.
according to location, the reserve being computed on the whole amount of deposit*
Vlrglnla-Carollna Chera.,pf.(qu.)(No. 00) 2
Oct. 15i Oct. 1 to Oct. 10 exclusive of time deposits not payable within 30 days, represented by certificate*
Vulcan Dctlnnlng, pref. (quar.)_______
Oct. 2C1Holders of reo. Oct. 10 (according to the amendment of 1910), and exclusive of deposits secured by bond*
I X
Western Union Teleg. (quar.) (No. 100)
Sept.
21
to
Oct.
12
Oct. 15i
X
of the State of New York.
Westlnghouso Air-Brake (quar.)..
2*4 Oct. 1() Sept. 24 to Oct. 10
—Trust Cos.— —State Banks—
Extra ......................................
1*4 Oot. 1() Sept. 24 to Oct. 10 Reserve Required for Trust Companies
Total
Of
Total
Of
Special .............................................
1
Oct
1() Sept. 24 to Oct. 10
and
State
Banks.
Reserve
which Reserve
which
Westlnghouse Elec. & Mfg., preferred.
Oct. If5Oct. 6 to Oct. 10
I X
Location—
Required in Cash.Required in Cash
< E xtra................................................, e Z X Oct. If5 Oct. 6 to Oct. 10 Manhattan Borough............................................15%
15%
25%
15%
White (J. O.) A Co.. Inc., pref. (quar.)...'' 1*4 Nov. 11 Holders of rcc. Oct .30a Brooklyn Borough (without branches In Manhat.) 15%
10%
20%
10%
Other boroughs (without branches In Manhattan) 15%
10%
15%
7*4%
a Transfer books not closed.
6 Declared 6% payable 2 X % Oct 15 1910 and Brooklyn Borough, with branches In Manhattan. .15%
20%
20%
15%
16%
15%
Other Boroughs with branches In Manhattan___ 15%
15%
2*4% April 15 1911. e On account of accumulated dividends, declared 8 X %
15%
0%
Elsewhere In State______
10%
5%
payable 3*4% Oct. 15, 3*4% Jan. 15 1911 and 1X% April 15 1911.
[VOL. LXXXXI
THE CHRONICLE
921
We omit two ciphers (00) in all these figures.
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing
House banks. In addition, we have combined each corre
sponding item in the two statements, thus affording an aggre
gate for the whole of the banks and trust companies in the
Greater New York.
Boston.
Sept.10..
Sept.17..
Sept.24..
Oct. 1 .
I’ liila.
Sept.10-Sept.17..
Sept .24..
Oct. 1..
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear.-House Stale Banks A Total of all
Trust Cos. not BanksA Trust
Banks.
Banks.
in C.-H. Aver. Cos. Average.
Average
AcluaJFigures
Week ended Oct. 1.
Capital as ot Aug. 31..
3
132,350,000
3
132,350,000
Surplus as of Aug. 31..
193,297,900
193,297,900
621,410,900
+231,500
89,226,200
+ 314,800
Aggr’te money holdings 320,702,400 329,422.900
Change from last week — 18,299,600 — 10,400,100
C142,074,500
+ 447,900
471,497,400
—9,952,200
20,312,900
—385,300
20,312,900
—385,300
Monoy on deposit with
Change from last week
Total reserve............. 320,702.400 329,422,900
Change from last week —18,299,600 — 10,400,100
Percentage to deposits
requiring reserve----Percentage last week..
4,981,350
Surplus reserve...........
17.9%
18.7%
254,346,0
254,866,0
254,583,0
255,799.0
3
20,882,0
22,518,0
23,541,0
22,870,0
$
4,509,0
4,728 0
4,967,0
5,090,0
74,5f 7.0
75,595,0
74,903,0
72,795,0
July
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Oct.
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
3
94.652.2
93.995.0
92.656.7
90.699.2
91.463.2
89.655.0
88.124.7
88,597,9
88,911,4
89.226.2
$
2.299.609.1
2.299.315.5
2,316.350,0
2,326.315,7
2.331.878.3
2.326.474.5
2.320.771.3
2.328.750.6
2.329.379.2
2,330,077,9
106,392,1
131,150,7
136,223,7
135,503,9
1908.
$2,888,262'
13,929,150
1910.
....................
1907.
$2,732,835
11,418,872
$3,423,608
10,794,323
1909.
I
1907.
1908.
$13,325,169 SU.887,437 $11,535,074 $16,347,355
481,506,091 443,087,043 469,040,394 403,926,284
3494,891,260 S154.974.4S0 *180.575.468 S480.273.639
...................................
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:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Imports.
Exports.
dold.
Week.
Since Jan. 1
$32,150,000
Tot. Money Entire Res.
Holdings on Deposit,.
$
2,305.891.4
2.319.167.3
2.331.975.4
2.339.911.8
2.346.781.2
2.348.900.4
2.355.593.2
2.367.842.8
2.375.411.8
2.388.453.3
16,484,0
16,493,0
16,447,0
10,439,0
EXPORTS FROM NEW YORK FOR THE WEEK.
COMBINED RESUETS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers in all thesefigures.
Legals.
299,806,0
306,801,0
305,459,0
305,050,0
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:
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
In Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
Specie.
S
106,015,1
113,101,0
142,593,5
139,329,0
Total 39 weeks................. $691,194,701 $614,697,377 $467,545,906 $659,555,874
10,279,400
Loans and
Investments. Deposits.
S
7,947,0
7,908,0
7,947,0
7,991,0
Total.............................. $13,978,247 310,817,418 $14,151,707 314,217,931
1
Since January 1.
Dry goods.______ _______ 3118,801,790 3127,425,507 $91,385,915 $143,228,340
General merchandise........... 572,392,911 517,271,870 370,159,991 510,327,534
+ Increase over last week. — Decrease from last week.
a Theso are the deposits after eliminating the Item “ Due from reserve depositories
and other hanks and trust companies In New York City” ; with this Item Included,
deposits amounted to SI,201,235,500, an Increase of 31,075,800 over last week. In
the case of the Clearing-House banks the deposits are “ net" both for the average
and tho actual figures, b Includes bank notes, c Of this amount State banks held
$15,011,600 and trust companies 3127,062,900.
Week
Ended.
Clearings
$
240,607,0
246,921,0
247,117,0
250,395,0
1909.
1910.
$ 2 .99,672
11,178,575
Dry goods__ ___________
General merchandise.........
168,387,400 497,810,300
+ 62,600 — 10,337,500
25.82%
20.49%
25.42%
26.39%
55.465,0
55,465,0
55,465,0
55,405,0
For Week.
120,063,600 382,271,200
+ 216,400 —10,267,000
67,815,300
+ 83,300
66,546,800
— 1,070,400
3
206,059,0
204,708,0
204,394,0
206,192,0
Legals. Deposits, n Clrculatlon.
FOREIGN IMPORTS AT NEW YORK.
Deposits.................... 1,262.884,200; 1,276,574,000 a 1,053,503,900 2,330,077,900
+ 8,118,600
Change Irom last week —22,818,900 —7,419,900
+ 698,700
Legal-tenders.........
Change from last week
S
40,200,0
40,200,0
40,200,0
40,200,0
Specie.
Imports and Exports for the Week.— The following are
the imports at New York for the week ending Oct. 1; also
totals since the beginning of the first week in January:
373.059,200
Loans and Investments 1,278,150,200 1,285,416,400 1,103,036,900 2,388,453,300
+ 3,736,400
+ 9,305,100 + 13,011,500
Change Irom last week —7,382,000
Specie ........................ 254,155,600 261,607,600
Change from last week — 17,229,200 — 10,483,400
Loans.
a Including Government deposits and the Item "duo to other banks.” At Boston
Government deposits amounted to $3,051,000 on October 1, against S3,018,000
on September 24.
8
$
74,031,000 l 206,981,000
180,661,300
Capital
and
Surplus.
Banks.
8
S
494,429,9 518,815,9
499.697.3 525,172,3
508.850.8 535.467.8
512,540,6 539.637.8
512.484.5 537.996.1
502.336.1 528.336.2
489.173.2 616.458.2
485.829.9 513.289.9
481.449.6 508,147,8
471.497.4 497.810.3
Total 1910.................. ......... .
Total 1909.. _______ ________
Silver.
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:
$4,900
4,455
3,288,832
125,600
9,368,766
41,900
$130,500 $14,853,953
200,250 70,894,692
Week.
$18,473
2,180
1,241
13,147
34,937
200
Total 1910... .
...........
Total 1909.................................
Total 1908..................................
$495,609 $32,650,531
895,005 34,948,193
806,139 32,150,824
$13,469,736
3,457,050
314
404,204
233,949
1,792,176
975,764
$69,978 $20,333,193
109,725 6,971,810
144,850 14,261,919
$468,569 $30,312,168
26,900 1,744,800
477,955
67,798
41,505
0,305
Since Jan. 1
$91
137
10,389
42,700
313,344
1,555
12,374
68,342
1,318,179
1,083,272
1,077,084
$53,317 S3,574,750
43,999 3,789,046
95,163 2,803,473
_______We omit two ciphers (00) in all thesefigures.__________________
Banks.
N. Y. City
Boroughs of
Man.A Brx
Wash. Ilgts
Century __
Colonial .. _
Columbia ..
Fidelity . . .
Jefferson. ..
Mt. Morris.
Mutual___
Capi
tal.
$
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
Sur
plus.
S
270,6
160,2
362,5
751,7
175,5
521,3
313,8
371,3
453,8
100,5
952,4
451,8
265,5
156,8
317,7
Ijoans,
Disc'ls
and
Invest
ments.
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
1.884.0
8,362,7
4,227,6
2,195,0
1,401,4
2,164,3
23d Ward..
Un.Ex.Nat.
Yorkvllle . _
New Neth’d
Batt.Pk.Nat
Aetna Nat.
Borough of
Brooklyn.
Broadway . 200,0
513,3 3,233,0
JIfrs.’ Nat. 252,0
831,9 5,501,8
Mechanics’ 1,000,0
815,4 12,882,0
Nassau Nat. 750.0 1,010,4 6,829,0
Nat. City.. 300,0
601,8 3,995,0
North Side. 200,0
139,0 2,090,1
300,0
611,0 3,360,0
First Nat..
Jersey City.
First Nat..
400,0 1,251,8 5,233,3
Hud.Co.Nat 250,0
751,9 3,089,9
Third Nat. 200,0
394,5 2,040,4
Hoboken.
First Nat.. 220,0
623,3 3,126,3
Second Nat. 125,0
245,9 2,748,1
3
3
130,2
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
48,4
147,9
973,4 1,000,0
49,5 740,6
87,0
262,0
30,9
184,9
39,2
406,0
%
109,0
68,2
723,0
868,0
134,9
105,1
458,5
352,8
739,0
239,9
262,6
256,3
272,0
58.9
64.3
S
3
16,5 1,289,6
163.6 1,289,2
830.5 7,276,3
62.0 7,010,0
970,2
330,1 3,341,3
86,7 3,377,5
5,3 3,989,1
4,827,0
2,121,9
7,992,0
259,5 5,354,5
5,0 2,293,0
1,199,1
20,9 2,085,4
34,0 465,0
348,3 329,3
353,4 1,413,6
606,0 302,0
97,0 545,0
126,7 102,5
72,0
338,0
440,8
1,045,6
1.559,2
1,549,0
511,0
322,2
541,0
283,5 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
375,9 2,221,1
301,9
56,4
684,8
133,6
144,0 6,433,9
113,9 2,761,2
33,9 2,490,0
175,0
48,9
110,2 2,877,5
164,0 2,956,2
297,3
153,5
63,5
133,6
86,9
37,1
83,2
Tot. Oct. 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 11,010,4 3,637,0 115554,0
Tot.Sept. 17 8,197,0 13,421,6.100141,7 7,478,9 8,259,9 15,193,0 3,761,1 116153,2
Boston and Philadelphia Banks.— Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
Of the above imports for the week in 1910, $2,170 were
American 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.
Legal
Deposit with
Tender
Clear Other
Net
Specie. and
ing
Bank
Banks. Deposits.
Ac.
Notes. Agent.
JSauhtua and Iftuauclal.
IN VESTM EN T SECURITIES
Our eight-page circular No.687 describes several Issues of sound
Investment bonds yielding about 4 ^ to 5 y s % .
Spencer Trask & Co.
43 EXCHANGE PLACE. - - - NEW YORK
Branch offices: Chicago, III.. Boston. Mass., Albany, N. Y.
WHITE,
WELD
&
CO.
Members New York Stock Exchange
5 NASSAU STREET.
THE ROOKERY.
NEW YORK
CHICAGO
HANKING and EXCHANGE ot every description In connection with
EXPORTS & 1MPORTS
i
International Banking Corporation
60 Wall St.. New York,
CAPITAL & SURPLUS, $6,500,000
BRANCHES and AGENCIES throughout the W ORLD,
T H E IN T E R N A T IO N A L B A N K
Organized under the Laws of N. Y. State.
60 Wall St., New York
Accounts Invited. Interest paid on Term Deposits.
THOMAS 11. HUBBARD Pra idc
THE CHRONICLE
G o t . 8 1 9 1 0 .]
925
ABS1RACT FROM REPORTS OF THE NATIONAL BANKS MADE TO THE COMPTROLLER SEPT. 1 1910
No.
Hao'
nk. . Capita1.
Sept. 1 1910
Maine____ _____________________
New Hamptlilre_____ _ _ _______
Vcrraoin...... ............................
MastocDiisius_____ __________ ”
Boston _____________ I . ___"
Rhode Island.......... .....
Connecticut_____ ______ I .I I I I I I
.
.
.
.
.
72
68
5
17 2
2)
2
7J
47 4
Deposits. Loans
Goldana
Gold
Silvsu
err
L^gdaer
l
Surplus.
ldCi’gte
-i/. Trea
sury
rea
Individual. Ollier. Discounts. G
Coertifica
s. C
'T'ifica
tes. Silver. CT
ertifica
tes. T
Nen
otes.
8
$
S
s
y
8,170,82 2 3,341,35 0
37,307,01 9
254,32 2
33,830,7;13 1,185,0 2
0
129,64 0
363,2!) 6
463,183
5,400,00 0 2.704,62 0
18,469,05 4
281.77 0
17.730,1) 5
494,7i>
'.i 607.0S
226,71 0
133,79 4
322,52 4
412,882
5,180,29 0
5
17,092,63
1,800,45
9
123,21 8
16.967.41 6
421,1 3
118,47
106,25 0
154,63 2
315,380
126.926.54 4 2,398,6. 7 1,346,76 0
691.64 8 1.840.2S 6 2,989,270
187,564,9( 7 5,954,74 4 6,878,88 00 1.885,78
6 7,000,3b 7 3,978,716
30,416.54 2
371,87 4
420,954)
102,23
9
395,53
9
687,929
63,874,55 5 1,720,75 5
740.51 0
301,71 5
857,74 1 1.370.S52
New England states.............. .
477,310.96 2 12.546,90 8 10,339.38 0 3,351,072 10,934,385 10.218,212
New York............ .....
40
40,015,10 1 28,877,00 1 294,099,75 4
988,03
245,902,59 5 6,571,10 6 5.085.23 0 1.211,41 5 3,959729
New York City
3 ) 119,900,00 1 125,055,00 0 698,058,51 3 2,711,68 6i 873,880,86
4 5,919,906
0 50,435,75 3 147,089,64 0 1.085,60 5 38,616.40 2
Alb .ny.......... . . . . m m ...........
2,100,00 ) 2,200,00 )
48,425,254
14,069,26 0
178,368
19,949.45 6
516.82 3 1,329,00 0
Brooklyn ___
“
59,77 5
1,802,00 ) 2,250,00 J
72,70 0 1,563,517
18,120,17
)
363,14
J
15,570,25
5
204,04
New Jersey........ ............ ...........
795,40 0
116.099
904,64 5
21,554,50 ) 20,543,43 7 162,990,70 7
773,705
»
645,76 1 131,085,50 4 1.971,80 8i 2,014,57
Pennsylvania........ ......................
0
698,70
70
05.985.70 2 64,261,22 1 389,278,81 )
5
2,779,93
9
3,600,148
047,01
1 318,729,00
9,340,10
Philadelphia .11
6,615.63 0 1,916,46 8 3,876,78 5 7,227,566
3
22.405.00 I 35,515,00
169,294,04 2
612,15 8 208,600,75 7 9,740,11 81 13,378,37
............
Pittsburgh......
710,34
20.700.00 I 27,080,00 ) 116,000,20
6,103,50 7 3,380.550
708,00 I 137,252.04 J 5,900,92 7 7,134,951 )
Delaware__
"
839,80 2 3,253,36 2 5,102,187
2,373,98
2,018,41
10,510,67
50,78 6
9,949,59 1
157,89
Maryland............ I H I
126,24 1
81
5,201,05
79,93
243,37
3,443,55
204,760
33,898.86
105,76 1
25.425,43 >
472,11
560,45
Baltimore
)
128,11
It 13.290.71
7,905,OK
400.75 1
728,421
43,293,08
628,62
59,824,13 *
400,17 1 1,705,70
District of ( clu in b la llllll..........
252,001
179,33
252,001
2,092,27
568,785
929,63
83,50
1
942,02
IS.
13
39,60
Washington_____________ I . . .
11
3,391
5,800,001
4,198,64
20,33
11,560
22,126,45( 2,756,7!)
21,889,70
79,99 l 1,692,851
91,27;
518,89
317,918
Eastern states____ ___________ 1,010 333,440,10' 324,199,34( I,973,882,16 10,479,02
2,069,013.43 90,880,98 188,1G7,53(
,
. ; 62,812.86, 77,884,283
Vlrg.nia................ .......
125 15,557,030 10,201,26
69,821,16) 2,030,45'
82.707,271,410,44(
West Vlrglnlalll
929.691
103
9,081,821
ToliHE
766,134
4,83<),80£
1,821,403
42,731,15:
428,55.
•H.475,95.
1.142,04:
North Carolina..
............ . 75
723,681
7.935.001
232,661
470,09
722,054
2,4<)7.77f
23,081,4 If
522,26f
34.671.485
441,901
239,5SC
South Carolina.......... I .............H "
39
214,943
4.985.001
21*0,96(
1,580,831
581,265
15,492,98:
210.7L
22.524,845
191,121
Georgia___ ____________ _____ _
HI 12,503,581
101,()6C
332,360
114,701
374,716
6,570.737
36,845,291
501.715
56,376,381
491,937
355,500
Savannah____ I I I I I I I I I I I I
691,453
750,001
460,097
500,001
1,053.817
894,146
166,522
2,823,971
21,961
Florida____________ ___________
43
24,000
5,750,SOI
74,078
33,3,81
2,219,981
4,000
25,837,66:
459,981
27,240,747
372,107
79
Alabama_________H I I I H II I I
390,480
8.730.001
422,923
287,47b
4,014,951
594,136
28,129,574
307,872
32,914,005
077,13:
Mississippi_____________ I _____ I
32
603,250
3,481,251
555,842
411,359
1,414,940
434,586
10,535.368
58,78(
11,481,739
134,401
Louisiana___________________ H I
20
325,760
119,219
199,223
2.870.000
192,752
1.992,360
12,737,138
7,00(
14,773,549
214.53S
New Orleans_____________ _
206,911
5
5.200.001
256,916
148,826
139,194
2,965,001
17,401,701
245,416
22,091,985
Texas ______________
715,551
487 31.740,001) 15,022,265
868,870
52,681
679,984
95,435
90,035,200
495,771
114,526,698
Dallas________ I.......
...........
2,245,049
4
1,883,160
1,560,202
2.050.000
760,471
1,928,845
1,800,000
13,781,308
179,898
15.197.178
638,42.1
Fort Worth__________ _ I_ IIII“
7
384,930
218,861
2.175.000
182,006
1.850.000
305,850
7,557.732
2,000
10,091,562
Galveston_________ '
200,182
.3
140,000
025,000
131,708
90,870
225.000
356,990
2,787,208
60,170
3,108,743
H ouston__________
119,600
0 3,000,000 1.375.000
127,890
170,908
64,846
56,955
18,534,222
51,960
21,241,327
San Antonio______ ‘
510,228
1,148,120
0
223,539
2.100.000
298,230
691,425
910.000
8,200,137
300,556
7,788,005
W aco____________
360,572
146,880
0
141,603
1,180,000
182,559
480,750
298,585
3,087,782
40,052
5,062,477
Arkansas__________
127,388
122,350
45
156,038
4.155.000
31,760
165,050
1,634,700
12,526,032
90,684
10,323.400
Kentucky_________
238,090
274,270
140 12,052.400
230,384
128,026
261,187
4,273,015
35,934,807
739,703
41,991,924
910,781
Louisville_________
893,490
8
264,346
5.495.000 2.655.000
265,727
506,828
16,646,936 1,102,083
22,840,106
770,373
Tennessee_________.. . I I I I I I
1,413,240
102 11,917,724
101,578
257,299
520,145
4,707,365
49,948,428
758.961
57.158.179
1,178,070
1.156,700
441,600
467,114
1,197,179
Southern States___________
1,454 154,540,609 73,647,339 543,863,503 8,759,113 664,412.284
13,187,197 12,819,810 7,082,613
6,421,172
12,302.397
Ohio ................
35 G 34,939.100 15,871,793 183,804,172
645,553 167,758,420 4,648,980 3,181,220 1,046,196
Cincinnati _ ................................
8 13.900.000 7.250.000
1,284,070 3,754,259
43,687,370 1,250.141
61,862,210
1,007,973 3,728,900
Cleveland ..................*.................
109,862
1,454,210
7
2,415.749
9.350.000
4.050.000
38,161,655
23,8,164
56,419,644
2,291,737 3,395,000
Columbus
210.519
558,154
9
2,217,367
3.750.000
1,127,500
18,550,779
03,940
Indiana____
17,419,183
784,151
1.012,990
122,964
336,788
254 21,255,450
662,535
8,218,128 107,907,033 1,170,157
93,817,516
3,002,885
2,232,070
811,369
Indianapolis H U H *
l.Ob'O,
J70
8
2.219,752
6.800.000
2.377.000
23,146,474 1,14.8,012
Illinois__________
27.274,518
1,000,247
1,869,800
198.205
504,773
421 30.480.000 15,720.133 182,418,474 3,187,390
1,252,264
150,406,909
Chicago__ 11II
4,410,677
3,715.250 1,112,854
1,409,183
11 41.400.000 22.188,000 101,663,540 1,097,006 288,650.931
3,362,325
4,728,080 23,202,130
Michigan________
605,063 19,127,715 34,310,944
97
9.957.600 4.920,775
78,483,790
492,244
66.491,282 2.353.S34
Detroit_____ . . I I
1,171,410
422,391
541,811
4
5.150.000
1,833,224
1.850.000
28,016,061
452,413
32.193,005 2,022,513
Wisconsin_____ I
414.070
185,611
192,725
123 10.710.000 3,941.906
2,048,561
81,453,604
221,747
61,637,296
2,044,300
Milwaukee____ H i l l
1,739,690
469,432
6
481,578
5.750.000 2.660.000
1,046,552
37,026,086
665,032
Minnesota________
37,513,624
1,062,132
1,337,920
97,210
1,033,760
258 11.786.000 5,323.916
1,664,186
89,383.800
192,718
78,155,542 2,939,194
Minneapolis........
.............. .
1,188,790
546,280
528,507
0
0,900,000
863,193
5.594,361
37,634,468
208,884
St. Paul_______
48,158,593 2,794,290
156.049
1,799.100
82,115
0
4.100.000 3.120.000
1,417,108
20,105,387
Iowa___________
:
795,721
28.381,361
2,127,071
052,950
175,808
601,250
316 17,991,015 6,754,402
866.036
97.468,567
367,905
101,333,542
Cedar Itaplds .1111
................
2,486,726
1,963,720
626,414
542,982 1,757,427
3
400.000
300.000
2,357,798
31.000
5,558,374
Des Moines__
87,558
29,350
397,320
233,416
4
133,950
2,000,000
405.000
5,481,196
204,929
Dubuque......
................
10,466,004
260,218
677,600
59,597
85,976
3
391.838
600.000
130.000
2,154.510
43,346
Missouri..........
........
2,476.818
143,355
24,421
70,000
30,000
105
105,903
6.505.000
2.413,695
27,115,542
17.000
25,367,403
823,694
Kansas City H U H ........
206, S41
334,970
246,070
10
630,367
6.600.000 2.608.000
33,904,851
561,314
50,137,700
St. Joseph_____
1,776,815
365,884
1,473,944
1,545,480
1,261.469
4
1,100,000
550.000
0,718,307
111,797
10,185.913
560,965
340,520
st. Louis........ —n n i n n i i i i i
93,258
129,290
282,980
10 21.100.000 12,055.000
71,355,208
567.404 114,454,494 3.910,178 11.173,540
255,654
6,221,471
4,924,058
Middle Western States_________ 2,029 272,524,165 129,489,698 1,414,907,804 13,758,817
1,642,120,248 47,327.579 67,104,340 7,970,461 38,120,734 69.452,047
North Dakota..
140
5,280,750
1,504,035
29,005,088
311,582
29,290,828
Soutli Dakota.. ..............................
622,136
607,770
276.435
18L552
99
391,054
3.965.000
1,034,731
28,416,482
574.891
25,603,412
Nebraska_______
”
807,405
623,700
229,298
186,416
223
327,612
9.995.000 3,683,285
51,796,945
57,502
50,451,779
Lincoln______I
.....................
1,543.789
827.330
347,390
291,012
4
628,306
1,000.000
330.000
4,031,915
51,987
5,820.846
Omaha.......... ..... I I I I ...................
298,590
111,410
48,818
19,304
7
173,761
3.600.000
2.052,500
957,734
25,348.187
27,579,147
South Omalia__
1,642,742
971,760
303,505
806,005
4
1,049,035
850.000
420.000
6,486,561
2,000
0.483,188
Kansas.............. ........... H*
343,920
100,310
58,865
21,209
200 10,512,500
212,710
4,089,740
56,680,036
484,840
50,869,164
1,626,030
Kansas City . .
986,060
525,363
445,090
3
924,857
1,000,000
750.000
4,303,162
1,000
7,838.974
T opeka.......... ... ..........................
145,190
786,500
36,777
19,560
99,260
300.000
140.000
2,527,904
138,768
1,871,685
128,510
Wichita.......... .................... .
182,000
18,440
26,157
3
63,515
400.000
495.000
4,335,440
3,000
3,810,031
Montana_____
____
36,207
603,000
35,195
107,584
54
120,000
4.656,100 2,395,758
31,563,71.8
717,004
25,533,099
W yom ing______
1,532,752
619,210
188,087
124,404
39
619,441
1.685.000
981,300
12,401,504
274,462
Colorado_______I
11,506,004
444.696
243,050
94.786
63,432
113
96,164
6.425.000
2,747.508
40,784,397
158,772
30.159.540
Denver________
____
1,750.991
894.330
258,580
260,750
0 3.100.000
681,494
2,595,000
38,666,552 1,1.82,770
Pueblo_________I 'I
26,826,586 3,895,930
1,796,900
102,729
337.268 1.468,092
3
500.000
415.000
5,872,437
80,213
New Mexico_______H I
307,322
3,875,683
169,220
32,308
45,235
41
36,975
2.070.000
805.500
11,831,071
289,476
10,992,853
Oklahoma...................... II
.........
420.650
266,920
88,117
S3,216
215
8.620.000
164,903
2,384,293
29,638,395
345,104
Muskogee......................I I ...........
30,145,792
673,819
587,850
473,965
271,362
1
700.000
462.731
190.000
3,225.893
142.891
Oklahoma City___________ III ’
3,141,419
09,533
168,230
59,220
6
59,088
1,100,000
102,165
175.500
5.953,159
251,791
5,101,235
298.467
331,620
97,948
78,621
160,365
1,105 65,759,350 27.189.210 392,929.572
6,025,799 356,807,265 1G.5S8,691 11,177,200 3,335,892 3,430,855
7,789,040
Washington...................................
~ 07 " 4.075.000
1,001,289
27,250,377
306,574
Seattle............ ........................ .
21,831,220
1,563,035
217,140
5 3.700.000
39,713 r
2393)78 ~
1.270.000
116,027
31,621,556 1,709,386
26,884,703
Spokane............ ........................1 ’
5,096,850
223,100
238,074
5
3.400.000
50,034
775.000
224,430
17,313,650
150,325
Tacoma____________________ "
15,892,307
1,984,440
381,630
2
135.688
168,961
500.000
62,318
750.000
6,771,691
225,010
Oregon____________________
"
5,581,364
1.057,500
39,460
71
75,326
1,101
3.911.000
52,400
1,679,512
26,528,298
99,902
*
Portland.............................
19,091.750 2,084,762
156,560
4 3.250.000
175,039
70,861
63,249
1,392,500
20,152,491 1,203,305
California.................................
17.550,813
4,745.790
21.240
108 10,203,830 0,485,094
117.938
13,800
185,860
85,182,630
295.305
Los Angeles.......... ........... ...
71,022,914
5.759,359
478,280
696,424
9
142,466
5.350.000
183,081
2.437.000
34.872,383
279,710
34,838,994
San Francisco__________I
5,875,290
198,900
315,523
10 27,250,000 15,630,000
19,730
203,943
82,478,734
515,450 104,010,297 10.990,528
Idaho ..................................... I
2,728,000
439,822
47
50,749
54,912
2.070.000
1,276,210
10,700,485
253,045
U ta h ............................................. ‘
14,606,038
834,338
189,890
97,314
10
58,948
|
1.030.000
84,549
367,927
6,100,250
149.838
5,813,065
399,520
Salt Lake City_______________
17,330
62,737
5
9,451
18,432
1.750.000
850.000
8,866,461
287,56,8
7,706,887
Nevada______________________ H
937,303
401,710
12
151,420 ■
17,256 S
1.792.000
58,785
456,233
5,727,237
49,286
4.729,380
394,505
Arizona............................. ......... HI
38,360
41,053
13
1,217
980.000
30,570
627.000
0,225,050
187.838
4,945,309
314,158
110,080
Alaska (June 30 1910)..................
70,676
2
60,677
'
100.000
56,784
35,000
1,094,591
247,578
433.631
86,400
43,880
7,285
135
14,815
Pacific States...............................
430 75,961,830 35.935,765 376,880,790
5,962,110 356,205,278 42.129,778 5,275,620 2,863.997
808,099
1,410,155
Hawaii (June 30 1910)..................
610,000
183,367
1,305,606
658,728
1,216,008
396,795
490
Porto Rico..........
1 100,000
44,663 r
327 r
220
17,500
301,900
69,155
89
25,000
630
1,236
2,137
5
710,000
200,867
1,610,512
658,728
1,285,163
396,884
25,490
45,193 '
1,563 '
2,357
United States..
i\173 1002735123 6 48,268,370 5 145,658.368 60,160,501 5
7467,160,63812 2:7,258 J) 23 2957139,370 36.769,480*1 2^4593)73 f 79.058.491
‘f
31,417,50 0 16.833,29 5
22,950,00 0 18,050.00 0
0,700,25 0 3,868,62 5
19,914,20 0 11.007.80 0
99,799,002 57,606,14 5
121,883,02 2
281,18 7
160,539,33 9 3.040.94 2
27,739,08 1
210,66 2
324.20 5
68,486,68 2
441,518,026 4,516,30 6
2
2
2
>
7 12015
2
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0
% S T s 7
s
s T
60 10 1 1 5 6 34 8 6 31
8
4 1 20 1 4 1 1 3 2
3
9
3 1 1 11
1
1
4
1
1
26 "4 3 1 ~2 1 5 '4 '3 1 5 ' 2
1
3 1 15
3 1 1 6 1
2 -7 -1 -1
1 1
2 '2
5 'i
4 ‘ I
3 'i
S
3
£
1
CQ I
2>.
•
i
Total
Other Cities.
8
£
Total Reserve
Cities.
-l
!
•3
5
1
s
San Francisco\
f
$
■3 U
(5
I
*5
£
Om.& So. Om.\
Q
■3
£
0
Kan
9
£
8
Cedar Rapids
<fc Dubuque.
3
u
I
-8 •8 ■ 8
sf
1
Minneapolis.
1
01
3
<9 V
£
Indianapolis.
§
<
J
j
5
Orleans.
g
£
2* 25)
K
O
o
cq
I New
Totals for
Reserve Cities. Ac.
In Millions.
Philadelphia.
t
'
* 1
6
7
? s
s
$ „ S
$
l
48 18 3 5 1 0 5 8 2 ,7 3 0 2 ,7 6 1 5 .4 9 7
0
6 4 6 21
283
479
762
5 3 4 14 1
369
485
854
1
1
4
105
13 2
237
14 ' 6
8 45
652
563 1 , 2 1 6
16
1
9 5 6 14
391
127
518
1
10 6
49
155
125
54
179
H 'i n " e 'i
317
51
308
9 2 18 2 1 1 10 66 1 6 13 73 1 5 87 3 7 6 4 209 T o
gT i o o 4 ,7 2 6 7 8 2 6 .
—
14 9 4 7 41 5 6 7 4
1 2
7 1 21
1
4 1 T ~4 ~2 ~8 “ 3 7
27 2
426
5 7 7 6,0 0 3 :
10 6 1 4 30 3 3 7 4
1 1
4 1 17
4 1 1 4
4
2
6
22
1
44 1
433
874
8 6 4 5 17 2 5 3 2
1 1
3 1 19 i 3 1 1 3 ' i
4 2 5 19 2 238
437
096
29 84 6 19 2 1 8 13 13 28 14
8 8 14 8 8 1 3 23 8 3 10 2 13 8 12 5 8 3
1 .7 1 8
22 6
45 38 18 24 19 3 29 38 38 27
4 G 34 7 7 2 4 32 4 7 45 9 57 21 3 5
83
6
,2
2
9
8
2
,9
6
7
4 3
2
2 1
1 1
1
—
48
86 134
*
— ---— — — — — — — — — — — — __
__
39 42 43 23 42 110 96 33 G1 5 0 1 53 65 83 51
1 5 IS 9 2 18 2 1 1 10 66 16 1 3 73 1 5 87 3 7 64 209 >16 (5.10 0
4 ,7 2 6 9 .8 2 S
5 5 ■
1 3 5
3 5 2 2 3
'i 3 3 3 2
l 7 6 11
2 11
l 18 22 22 12 18
3 1
1 2
I
S.
x.
THE CHRONICLE
•>26
S k t ik m '
( S iL e e t t e ._______
Wall Street, Friday Night, Oct. 7 1910.
The 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
total volume, however, is not large.
A fresh outburst of speculation in cotton, which carried the
price again upward,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.
.
.
.
As is well known,the political situation will absorb a good
deal of attention from now until the elections on N ov. 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 were ‘2 @ 2 % % .
Commercial paper quoted at 5 % _ @ 5 % % for GO 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 lhursday
showed a decrease in bullion of £ 2 ,935 ,68 8 and the percentage
of reserve to liabilities was 47.07, 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.
[V O L
LXXXXI
Charleston buying, par; selling, l-10c. per $1,000 premium.
St. Paul, 25c. per $1,000 premium. St. Louis, 20c. per
$1,000 discount. New Orleans, commercial, 7 5 c .@ $ 1 per
$1,000 discount; bank, $1 per $1,000 premium. Montreal,
4 0 % @ 1 5 % 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 reported at the Board this week. The following
are the daily closing quotations; for yearly range sec third
___________ _
page following.
NEW YO RK CITY CLEARING-HOUSE BANKS
Oct. Oct.
Interest Oct. Oct. O4ct.
3
Periods 1
2s,
2s,
3s,
3s,
4s,
4s,
2s,
2s,
1930 ............. ..registered Q—Jan
1930 _____ ______ coupon Q—Jan
1908 ■18.............registered Q— Feb
1908 •18............... .coupon Q—Feb
1925 .................registered Q— Feb
1925 ____________ coupon Q—Feb
1936 .Panama Canal regls Q—Feb
1938 Panama Canal regls Q—Nov
6
100 Vx *10054 *10054 *10054 *100 54
100M * 100 54 *10054 *10054 ►100*6
10lh *10154 *10154 *10154 >10154
U0154
*10154: *10154 *10154
*114 54 *11454 *11454 ♦11154 >11454
>115
*115
*115 *115 *115
*10054 *10054 *10054 *10054 >10054
*10054 *10054 *10054 *10054 ►10054
*10154
* This Is the price bid at the morning board; no
sale was
7
*10054
*10054
*10154
*10154
*11454
*115
*10054
*10054
made.
Railroad and Miscellaneous Stocks.— The stock market
has been alternately strong and weak. Wednesday s market
recorded a sharp decline, which, however, was fully iecovered 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
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,
1908.
1909.
1910.
veragesfor Averagesfor
Averagesfor Di/ferences /Iweek
ending weekending 1
from
weekending
Oct. 2.
Oct. 3.
1
previousweek.
Oct. 1.
S
S
S
$
127,350,000 126.350.000
132,350,000
Capital..........................
177,371,800 163,720,100
193.297.900
Surplus..........................
Loans and discounts— 1,285,416,400 Inc. 3,736,400 1,309,706,200 1,312,130,700
53,756,500
51,555,200
579,300
47,189,600 Inc.
Circulation....................
Not deposits.................. 1,276,574,000 Dec. 7,419,900 1,327,406,500 1,396,771,400
9,219,000
1,642,600
84,300
1,550,400 Dec.
U. S. dep. (lncl. above)
261,607,600 Dec. 10,483,400 267,420,700 311,896,300
8pecic ........ - ......... .
79,585,700
09,122,600
83,300
67,815,300 Inc.
Legal tenders................
Reserve held-------------25% of deposits..........
329.422.900 Dec. 10,400,100
319,143,500 Dec. 1,854,975
330,543,300
331,851,025
391.482.000
349,192,850
10,279,400 Dec. 8,545,125
4,691,675
42,289,150
10,667,000 Dec. 8,566,200
5,102,325
44,593,900
Surplus reserve____
Surplus, exel. U. S. dep
Note
.—The Clearing House now Issues a statement weekly showing tni
condition of the banks on Saturday morning as well as the above averages. These
ftaures. 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 8 3 1 0 @ 4 8320 for sixty
days, 4 8 6 3 0 @ 4 8635 for cheques and 4 8 6 6 0 @ 4 8665 for
cables. Commercial on banks 4 8 2 % @ 4 8 2 % and docu
ments for payment 4 83 @ 4 8 3 % . Cotton for payment
4 8 2 % @ 4 8 2 % and grain for payment 4 8 3 % @ 4 8 3 % .
T o-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 2 0 % less 3 -3 2 @ 5 2 0 % less 1-16 for long and 5 18%
less l - 3 2 @ 5 1 8 % for short. Germany bankers’ marks were
9 4 % @ 9 4 11-16 for long and 9 5 % less l- 3 2 @ 9 5 % for short.
Amsterdam bankers’ guilders were 40 5-16 less l-3 2 @ 4 0 5-16
for short.
Exchange at Paris on London, 25f. 2 3 % c .; weeks range,
25f. 2 4 % c . high and 25f. 23c. low.
Exchange at Berlin on London, 20m. 4 5 % p f.; week’s
range, 20m . 46pf. high and 20m . 4 4 % p f. low.
The range of foreign exchange for the week f
Sterling Actual—
Paris Bankers' Francs—
GermanyBankers' Marks—
Sixty Days.
Cheques.
4 8660
4 8625
Cables.
4 8360
4 83
5 20*6
5
5 181-6 less 3-32
5 18 less 1-32
5 1816 less 1-32
5 1816 less 3-32
21H
Vs
4 87
4 8660
High for the week__________
Low for the week....................
94 11-16
94 9-16
95 3-16
95 1-16
95M
9516
High for the week..................
Low for the week....................
40 15
40 08
40 33
40 27
40 37
40 31
AmsterdamBankers’ Guilders
under-mentioned cities at the close of the week: Chicago,
1 0 @ 2 0 c . per $1,000 discount. Boston, 1 0 @ l 2 % c . per
$1,000 discount. San Francisco, 50c. per $1,000 premium.
Savannah buving, 3-10c. per $1,000 discount; selling, par.
On
L U tIU [ A M lta u
JIOOUGO
<(,1V/ n w v v i v i i i v i . j
w. .
For daily volume of business see page 936.
The following sales have occurred this week of shares not
Sales
STOCKS.
for
Week ending Oct. 7. W
eek
Range for
Lowest.
100 8554 Oct
Preferred
34 126
Oct
1,900 75 Oct
100
. . . . $254 Oct
100102 Oct
100 127 Oct
Preferred..............
Canadian Pacific sub
scription rects full paid
100 19354 Oct
Col&Hock Coal&I tr rets
200 5 Oct
Comstock Tunnel.......... 1,100 21c Oct
Kvansv & Terre Haute..
200 61 Oct
50 103 54 Oct
General Chemical, pref..
111) 86 Oct
Homcstakc Mining____
34 122 Oct
Rome Watert & Ogdenb
Sears, Roebuck & Co__ 1 100 158 Oct
45 11.3 Oct
So Porto Rico Sugar, p f.
100 10154 Oct
United Cigar Mfrs, pref.
Week.
Highest.
•8554
126
82
$254
102
127
Oct
Oct
Oct
Oct
Oct
Oct
193 54 Oct
5 Oct
23c. Oct
61 54 Oct
103 54 Oct
Gj 86 Oct
4122
Oct
158 Oct
113 Oct
101 54 Oct
RangesinceJan. 1.
Lowest. Highest.
8554 Oct 9054
119
July 126
S e p t 82
71
$2 Sept S3 54
May 106
95
Apr 133
125
June
Oct
Oct
Jan
Jan
Jan
174
4
21c.
55
10154
81
120
150
Oct
Oct
Jan
Oct
Mch
Feb
Oct
Apr
Mch
Feb
110
100
Feb 193 54
Sept
Oct 36c.
Sept 6154
June 107
Jan 89
___ 122
June
June 16654
Apr^ 14
Sept 109 54
Outside Market.— There was a good market on the curb
this week for all the 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 1 9 % , down to 18 and back again to
19%
An active demand for Chino Copper carried the price
up about 2 points to 2 0 % , the highest on record
The close
to-day was at 2 0 % . 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 finalI figure
to-day being 8 % . Miami Copper improved from 1 9 % to
2 0 % , reacted to 19% and finished to-day at 1 9 % . Mason
Valley sold up from 8 % to 9 7-16 and closed to-day at 9 5-16.
Ilay Consolidated gained a point to 1 9 % , 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 1 0 % to 1 0 % and finished to-day
at 1 0 % . 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 1 0 % . The preferred was traded in at 1 8 % and
18% .' Intercontinental Rubber, after fluctuating between
30 and 3 0 % , sank to 2 8 % , but recovered to 3 0 % , the close
to-day being at 30. Standard Oil was traded in at 599 and
600. In bonds Western Pacific 5s eased ofl from 9 4 % to
9 4 % , but to-day sold up to 9 4 % .
Outside quotations will be found on page 936.
New York Stock Exchange— Stock Record, Daily, Weekly and Yearly
O CCUPYING T W O
Sales of
STOCKS— HIGHEST AND LOWEST SALE PRICES.
Monday
Ocl. 3 .
Saturday
Oct. 1 .
*24
*65
35
72
1001.1
10 0 %
1 123,1
10 6 %
91
76!%
19 1 3 s
721.1
290
79.>8
32
05%
2.3%
46%
122%
119
14 8
2 10
15 0
16 5
3%
7
75
110
10 0 %
112
1053.1
*8 9
70-%
19 3 1 *
*6 2 1*
*200
79
32
*
23.%
46%
1213.1
*14 8
§148
*201
*133
*115
*2 1*
*5
*72%
*99
*54 *
*72%
74
*69
72
*166
16 7
*500
625
31%
31%
*72%
73%
*54
60
*11
13
*22
24
203,1 2 7
45%
45%
35
35
12738
12 7
§56
50
^ 14 %
14%
*25
*6 8
993.1
*10 0*8
112%
10 6
91
19 4
*62%
*2 6 0
79%
35
*
-_
2334
46
1213,1
14 8
147% .
*20 1
*135
*14 0
2 34
*5
75
*9 9
503g
73%
*72
16 6
*19 7%
32
731,1
35
72
101*8
10078
1M 34
10 6 78‘
91
771.)
194*8
72 %
29 0
8 1%
35
65%
2434
48
123%
149*4
14 8 %
2 10
150
16 5
23,
8
75
110
5(>34
74
73%
16 7*8
625
32*8
73%
13
*11
23%
2 3%
207s 2 7 %
403.1
45%
37
35%
1 2 7 % 1287s
66^4 58
1434
14%
*25
35
*68
72
10 0 % 10 1 %
1 0 0 % 10 0 %
114
114 %
10634 1 0 7 %
*9 0
91
76*8 7 7 %
193*8 19 3 5 s
*6 2%
72%
*265
30 0 .
SO
8 1 's
*34
36
* ____
65%
24
24*8
4S
481.)
1223.1 123*4
* 14 8 % 150
148
14 8
*£ 0 l
2 10
*135
150
*14 0
165
*234
3
*5%
8
*71
76*4
*99
110
56
56*8
*73
75
*72
75
*16 5 % 167%
*4 9 7 % 625
32
323s
73%
73%
* ___
61
*12
14
*23
24%
27%
27%
40
40 %
36
36%
1273.1 1283.1
5G<8 57*4
........................
*25
*68
10 0
100*8
113
10 6 %
*9 0
76 %
19 3
*65
*267
80%
*35
* ____
2 3 's
47%
1 2 1 's
14 9
*14 7
*201
*135
*14 5
*234
*6
75
*99
66%
*74
*72
166
*4 97%
32
*73
♦ ___
*13
237S
27%
45%
3 5 *4
127%
56%
*_ _
* ____
9*6" *
120
12 0
9 5 % * ___
9 5 78 * ____
♦ ____
125
1 2 5 % 14 0
*132
21
57
103.1
♦ 303.1
*72
291.1
64
*17
39
673.1
14 4 1s
142 %
*23
*4 0
13 1
*14 2
*8 6%
32%
*6 2
6 1%
*134
*6 9
317«
1131.1
*61
*10 0
*S()
*151
*14 0
4 1%
*97
133
13 3
2 13 S
20*4
56
58%
163.i
l()3.t
3 1 34
31%
SO
*72
29%
29%
64
64%
19
19
*39
39
6 73 .
68%
145*4
1417s
I I 334 1 4 3 %
243.1
23%
4!)
*4 0
13 1
13 1%
*14 1
145
*8 7%
89
32%
32%
633.1
633.1
133
211.t
57
173s
32*4
7.3
31%
116 7s
*9 3
*8 0
♦ 10 0
12 9 7 s
*9 3
*10 1
140 %
♦ 80%
97
31%
*62
1 17%
*10 0
*80
*10 0
1297o
913.1
*10 1
1401,s
*8 6%
971"
31%
64
*5 5
65
40 %
40 1"
29%
29%
71
*65 .
116 %
115
2 4%
24%
543'i
27%
27
*9
91 ‘
*7%
8**>
2 3 ”s
2 3 's
56
56
1117s
112
10 8 %
167%
9 1 3S
9 1 3s
*2 8
29
57
57
163.,
17
37%
37%
48
481.1
G87s
69
*5
0
12
*10
7
*6
54
53%
4 0 1"
29 1"
*r.r>
1143,
23^8
54 w
27
*9
* 7%
233.1
1113.
107%
91
*28
67
17
37%
47%
G878
*5
*11
*6
53
140
70
3 17*
1137s
63
n o
93
150 1"
14 7 1"
4 1%
98
no
117%
110
110
115
130
95
116
147
90
97
31%
§135
*0 8
313.|
11 3 * 4
63
*10 0
*80
1533.1
147%
4 1%
97%
133
2034
56
17%
32*4
*70
303.|
0478
20
*4 0
*67%
14 5 %
143
24
46
131%
*14 7
88%
32*4
*6 2
54%
*135
20%
45
68%
14 6 %
14 4 78
23%
49
133
150
88%
33
G334
55
135
71
3 17,
3 178
11 3 * 4
114 %
63
63
*10 0
110
93
*8 5
15 3 3 , * 1 5 2 %
147%
147%
413.1
42
98%
98*4
Thursday
Oct. 6 .
Wednesday
Oct. 5 .
Tuesday
Ocl. 4 .
132
133
20%
21
651.1
50%
17*8
17*8
34%
34%
*75
SO
31%
30*8
64%
6478
*18
20
40
50
68
69
14 4 %
14 6
14 3
14 3
25%
25
46
132%
1327s
*14 0
15 0
88% *8 8
33%
33%
63%
013.1
54*8
5434
*135
14 0
*68
32
32
113 %
114 %
64
63
*10 0
110
*8 4
92
15 4 %
15 5
14 7 1" 1 4 7 %
413.,
41%
98%
99
35
72
101
100*8
113
1063.1
91
77%
19 4 %
72%
300
823,,
36
6 51"
237,
4734
12 3 %
119
148
2 10
15 0
10 5
3
8
75
110
57
74%
75
16 6
625
32%
7 3 *4
61
14
237,
28%
47
3034
128%
57*4
*25
♦ 68
995,8
10 0 %
*112%
10 6
*9 0
761.1
19 4
*65
*267
80%
35
* __
23%
47%
12 1
148 %
147%
*201
*135
*14 5
*2%
*6
75
+99
50
*74
*73
16 57s
*497%
*30 %
73
* ____
*12
24
27*s
46
35%
12 7*8
57
1434
9 5 % * ____
* ____
13 5
35
72
100*8
100*8
114
10 6 %
91
76%
196*8
721.1
300
82%
35
65%
23%
4734
12 2 %
14 8 %
147%
2 10
15 0
16 5
3
7%
75%
n o
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N EW
Week
Shares.
PAGES
STO CKS
Y O R K STO CK
E X C H A N G E
R a ilr o a d s
A n n A r b o r _____________
fY
D o p r e f ...............................
3 5 ,1 5 0 A t c h T o p e k a & S a n t a F e
050
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200
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1 7 5 C e n t r a l o f N e w . J e r s e y ___
8 2 ,6 5 0 C h e s a p e a k e & O h i o _____
400 C h i c a g o & A l t o n R R ____
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2 ,7 2 0 C h i c ( i t W e s , t r u s t c t f s . _
2 ,8 0 0
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800
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C h i c S t P M in n & O m a h a
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300 I ) o I t p r e f e r r e d
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D u lu th S o S h o r e & A t la n
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9 50
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550
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100 D o p r e f _______________
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400
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500
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B
D
H
I
K
N
S
I
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W
Range Since January 1.
basis of 10 0 -s A a r e lots
On
Range for Previous
Year ( 19 0 9 )
Highest
Highest
Lowest
20
M ch
36
M ch 1
7 2 t2 M c h 8
F 97% J a n
12418 J a n
3
10414 J a n 10
100 % J a n
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6
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119 18 J a i l
8
91
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67
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*
1
6
5
M
ch
19 8 U M a y 2 5
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70
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4
2 15
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3 12
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7
92
Jan
3
55% J a n
5 7 ?s F e p
GG34 J a n
3
70
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69
Apr 1
3U * D e c
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3
5834 D e c
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14 1
F eb
15 S * s J a n
3
17214 J a n
t
1 5 8 % & lc h
1 8 2 i2 J a n
8
173 % f e b
225
Jan
0
208
M ch
14 3
Apr
1 6 2 l2 F e b 22
§ 1 7 0 i4 F e b 18
16 6 % J a u
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5Js J a n
4
734 D e c
1214 J a n
4
9 2 14 M c h 18
68 Jan
10 4
J a n 15
100 Jan
51
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6534 F e b 26
78 % J a u
83
M en 4
.
81
Jan
6
73% J a n
18 5
Jan
3
16 73 4 F e b
26
M c h 21
535
Feb
26 6 20
62 J a n
3
26
3 7 % >!a n
79% J a n
84
Jan
3
26
56
J an
60 J a n 27
ii
14% N o v
10 J’ly 1 1334 J a n 3
28
F eb
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4
17
J ’ l y 26
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34*8 J a n
5
1912
26
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5 2 *4 M c h 8
35
J ’ l y .7
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42
M ch 8
2614 J ’ l y 27
136 % F e b
14 3 7s J a n
3
118
J ’ l y 26
G5*s Mch
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4
45
J ’l y
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13 i2 N o v
11
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181g M c h 22
88I2 J a u 20
39
F eb
97% A p r H
9 4 % J a n 25
99
Jan
4
83% F e b
102
M a y 6 140
O ct
4
‘ 88"A Pr
88
F e b 7 10 1* 8 J n e l 4
13 7
Feb
12 4
J ’ l y 26
14 7
Jan
5
1 1 5o M c h
2 5 i2 J a n 11
I 4 I4 J ’ l y 26
027g J a n 12
3634 M c h
4 H 2 J ’ l y 26
30 J a n
3
15
J 'n e 3 0
26*4 N OV
48
Sep
J ’ l y 26
64U J a n
3
25
7434 F e b
C8 A u g 2 80 F e b 18
4414 J a n
3
J ’ l y 26
37
F eb
23
077S F e b
68 A u g 2 7 1 J a n 4
25% J a n
5
J 'n e o o
19% Feb
15
48
Jan
62% J a n
3
O ct
39
70 % A p r 14
59
Jan
„00
„
J ’l y
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5 *12 1
1 3 1 1 * J ’ l y 26 15934 J a n
137
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M
M ch
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80
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40
132 1* J a n
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9234 J a n
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5 1i,s J a n
l
27
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71
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6
57
J ’ lV 2 6
73% M a y2 3
41
65
F eb
J ’ l y 26
139
Jan
8
125
122% J a n
„„
Feb 3
00
70% O c t 7
44% A p r
21
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2312 J ’ l y 26
32*8 O c t 7
M ch 9
10 51* J ’ l y 2b 1 2 8
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5 5 I1 M a y 4
48% M c h
67
M a y 27
10 0
Feb
§10 1
J ’l y
8 10934 J a n 2 1
98
J a n 19
82*4 A p r 28
76 % A p r
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149
A p r 28 1 6 2
W ov
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J n e l o nibl
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50
Jan
6
3 8 1* A u g 2
8 4% J a n
10 8 % M c h 2 1
8 8 1* J ’ l y 26
85% M c h
9 1 % M c h 10
88
Feb 2
14 5 % J a n
3
llli* A u g
133% F e b
76
M ch
1 1 8 % J a n 12
10 U * A u g 1
10 0
M ch
F e b 14
88
M ch
118
Jan
3
105
122% J ’ l y 26 1 3 8 % M ' h 9 12 6 % F e b
J ’ l y 2 < I04 5s M c h 2 2
89
86% J a n
M c h io
104
Feb
114
116
M ch 1
130*8 J ’ l y 2 . 1 7 2 % F e b 18 1 1 8 F e b
Aug24
89
M ch
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9 3% F e b 17
J ’ l y 26
110 % J a n
3
90
l ’’ e b
87
J ’ l y 26
57% J a n
3
2078 F e b
J ’ l y 27
54
92% A p r 9
57% F e b
A u g 11
73
Jan
6
65% M c h
58
36
F eb
3412 A u g 2 60 J a n 5
2 0 % F 'e b
18 1* J ’ l y 26
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3
47% J a n
5 U 2 J ’ l y 26
77% J a n
3
* 138 % J a n
4
1145 s F e b
10 3 U J ’l y
3334 J a n
3
22
F 'e b
J ’ l y 26
18
75
Jan
3
60
Jan
J ’ l y 21.
43
30
F 'c b
221* J ’ l y 26 3034 J a n 3
12% D e c
61* J ’ n o 1 1 9 % J a n 7
7
M ay512 J ’ l y 6 I 534 J a n 12
5433
j
a
n
4
43
F eb
J ’ l y 26
19
6434 F e b
4 234 J ’ l y 28
72% Jan
4
—
J. a n
J ’ l y 20
ll7 % J a n
3
10 3
97
15214 J ’ l y 26 29434 j a n 3 1 7 2 % FJ e b
’ ch
88U J ’ l y 26 10334 j a n 7 * 9 4 M
F eb
30
42% J a n
3
23*4 J n e 3 0
47
J 'n e j t
7233 J a n
8
50% F e b
F eb
16
12*8 J ’ l y 20 2734 J a n 3
61
Jan
3
F eb
41
281g J ’ l y 26
5 4 3 g M c h 12
40
J ’ l y 26
70% M a y l 9
67
A u g 15
3
10
Jan
3
A p r 23
5
J ly
8 J ’ n o o o 23 j a n 3
15% J ’ ly
4
J ’ne3 o
13% J a n
3
6% J ’ ly
J ’ l y *6
57% O c t
357* J a n
44
25
Feb
48% F e b
9034 J ’ l y
z97 J ’ l y
10 212 J ’ l y
10014 S e n
S7»4 S e p
6 8 >2 F e b
176 *4 F e b
6012 J ’ l y
248
J ’ly
65
Aug
23% J ’l y
647* J ’ n e
19
J 'l V
40
J 'l y
113 *4 J ’ n e
143
Sep
13714 J ’ l y
203
J ’n e
14 0
Apr
§16 0
Apr
2>* M a y
47j S e p
70
J 'l y
Sep
99
46
J ’l y
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70
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7, „0
14914 J ’l y
49 0
J ’l y
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625g J ’ l y
45
J ’t y
26
23
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25
M ch
12
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10934 J n e
113 % A u g
12 2 % J ’l y
96
Apr
827s J'ne
189*8
70%
323%
91 %
7434
78 1*
37%
6 43,
1 6 5 's
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19 5 %
|23D
16 7
§180
7
18 %
O ct
N ov
Sep
D ec,
Apr
M ch
D ec
D eo
Sep
Aug
Aug
Aug
Aug
J iy
Jan
Jan
105
68%
86
84%
200
680
51
90
71%
21
36%
39
5634
46
15 77s
881*
21
108
100
M ch
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M ay
Jan
M ay
Apr
Apr
Feb
Aug
Jan
Jan
J 'n e
Aug
Aug
Aug
Aug
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36
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bep
Aug
Aug
29% A'lg
64% J n o
7 D» D e c
16 2% A u g
153% Jan
65
Jan
90
Jan
14 )1, J a n
16 4 % A u g
94
D ec
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78% G o t
771* A u g
14 2
D eo
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D ec
26% M a y
14 734 A u g
69
N ov
100
F 'c b
95
N ov
174 3 ) J ’ n a
/ il493t D e c
55% J ’n o
10 2
D ee
02% J l y
15 9 % A u g
110 1* D e c
§10 3 " S e p
115
D eo
151% S e p
997g D e o
116 % S e p
173*s S e p
96
Aug
117% D eo
81
D eo
9434 D e o
74
D eo
0034 S e p
353g D e o
82
D ec
139% A u g
34
Aug
75% D e o
40 % A u g
4 21* J a n
1535 J a n
5478 O c t
74 % J a n
110 % D e c
219
Aug
118 % A u g
47
Sep
77
Sep
27?8 D e o
6134 J ’ n o
127s J a n
257g J a n
15% J a n
0)7* Apr
BANKS AND TRUST COMPANIES— dROREiiS' QUOTATIONS.
Banks
New York
A m e r ic a 1 1 ..
A tn e r K x c h .
A udubon
M a tte r y P k
B o w e r y U ...
B r o n x lio r o j
B ro n x N at
B ryan t Pk 1
B u t c h <5e D i
C e n tu r y 1 | ..
C h a s e _____
bid
Ask
1 75
575
230
100
115
375
300
19 5
155
140
170
*?5
ISO
600
US
12 5
__
__
20 5
16 1
14 5
175
41 >
Banks
'h a t h a m . .
mu
Ask
3 10
325
430
C h e m i c a l __ 4 2 5
C i t iz e n s ’ C ti
16 0
15 0
C i t y ................... 3 8 5
C o a l & Iro n
15 )
C o l o n i a l 11. .
40 3
425
C o lu m b ia V
f2 0 3
C o m m e r c e . f 2 01
C o r n E x 11. .
3 0 7 ':
E a st R iv e r .
12 5
115
F i d e l i t y 1|__
105
175
F i f t h A v e l f 4 ! 00
4 50 0
Banks
F l .'t h .............
14 th
F o u r t h ____
G a l l a t i n ___
G a r f i e l d ___
G e r m - A i n 1]
G e r m ’ n E x l)
G e r m a n i a 1|_
G o t h a m __
G r e e n w i c h 1]
H a n o v e r ___
Im p & T ra d
Rid
300
835
150
1 18 5
320
290
14 0
485
550
150
255
6 10
540
Ask
350
15 5
340
300
15 0
505
565
155
265
625
5S0
Banks
C r v in g N E x
Rid
Ask
200
2 10
185
L i b e r t y ____
L i n c o l n ____
d a n h a tta n ll
M ark ’ t& F u l
\ l e c h & M e t ’s
M e r c a n tile .
U erch E x ch
M e rch a n ts .
M e t r o p o l i s 1j
M e t r o p o l ’ n li
VI t M o r r ls U .
625
400
315
245
235
150
16 0
177
39 0
200
250
42)
330
255
24 5
16 0
17 0
18 5
4 10
2 10
260
Banks
M u t u a l H ___
N e w N e t t l 'd
N ew Y o rk C o
N ew
Y ork .
N ’ht & D ay1
19 th W a r d .
N o r t h e r n __
P a c l f i c H ____
P a r k __
P e o p le ’s H ..
P h e n l x ____
P i a z a U _____
Rid
Ask
285
240
2 10
900
315
200
250
29 5
230
35J
250
19 0
625
220
325
2 15
260
105
240
352%
275
200
—
RUt
Banks
P r o d E x c h 1, r i o n . .
R e s e r v e ___
10 0
39 0
- .e a b o a r d
S e c o n d ____
400
S h e r m a n ___
13 5
S t a t e H ____
275
12 th W a r d .
23d W a r d ..
140
U n io n E x c .
16 5
W a s h H ' t s 1, 2 7 5
W e s t S i d e 1) 600
Y o r k v i U e H- 5oO
• B i d a n d a tte d p r e e s ; 0 0 s a l e s w e r e m a d e o n t i n s d a y . 4 E x - r l g n t s . 4L,esstuan l o o snares. U S t a t c oanirs. a E x - d i v i d e n d a n d r i g n t s . 0 N s
y 3 d p a id .
It F 'i r s t I n s t a l l m e n t p a i d ,
n S o ld a t p r i v a t e s a le a t t h is p r ic e ,
z 2 d p a id .
t S a le a t S t o c k E x c h a n g e o r a t a u c t io n t h is w e e k
Ask
105
425"
290
14 0
175
___
938
New York Stock Record— Concluded—Page 2
STOCKS— HIGHEST A N D LOWEST SALE PRICES.
Saturday
Oct. 1 .
Monday
Oct. 3 .
Tuesday
Oct. 4 .
Wednesday
Oct. 5 .
Thursday
Oct. 6 .
Friday
Oct. 7 .
Sales 01
the
Week
Shares.
N EW
STO CKS
Y O R K STO CK
E X C H A N G E
[V O L . L X X X X l.
Range Since January 1
On basis of 10 0 -share lo s
Range tor Previous
Year ( 1 9 0 9
Highest
Highest
u -iU s t r i . l u . • n s c j l la .i o c t :
+250
*250
...
*250
*250
____ * 2 5 0
Jan
c la im
E xp ress.
>249
J 'n e .3 ,./ 0
*250
.
*8% 9
*8',i 9
9
9%
9%
•Ir...........
9%
10
97S
15
Jan
lL s - C h a l m e r s
934 10%' 4 ,1 0 0
7% J ’l y 2
*29
35
*29
35
34
347S
5434 j a n
34
3 2 % 34W
34%
D o p r e i _________ ___
27
A u g ..
3 3 % 3434
1 ,6 7 5
64
65
65%
6578
64%
64%
6 4 % 6578
6 4 % 6578
66% 6634 1 1 6 ,1 0 0 U n a i g a m a t e d C o o p e r ___ 5 5 % J ’ l y 13 9034 J a n
4 4 12 4 4 % * 4 4 %
44%
4334 4 3 % 4 4 % 4 6 % 4 5
49 J a n l o
35
J ’ly 2 6
46 %
46
463g
3 ,7 5 0 A m e r A g r i c u l t u r a l C h e m .
*9 0
110
*102
99% A p r
10 3
Jan 1
*102
IJ o p r e t _______________
*102 110 *102
*10 0
10 3 %
39
39%
39%
3 7*4 3878
3734 3 8 % 383g 3 8 % 1 2 ,8 5 0 A m e r i c a n U e e t S u g a r ____
47% J a n l o
38% 39%
38%
24
J ’ l y 26
94% 94% * 9 1 %
95
89
J ’l y 27
* 9 2 % 9434
‘
*92
200 U o p r e f _______________
S3
93
94% *9 2 %
94%
95*2 J ’ n e l S
8%
8%
8%
6 % j n e su
8% 8%
13',s J a n
3
8%
8% 8% 1 ,5 0 0 A m e r i c a n C a n
8% 8%
8% 8%.
* 6 8 1 2 69
6878 68%
687s 6878
Uo
p r e t ___________ __
62
J ’ l y 25
6834 6S34
70 0
69
6 8 % 6834
69
8 1* 2 J a n
47%
48
48
3 ,0 0 0 A m e r i c a n C a r & F o u n d r y
48%
48
4878
48%
48
48
49
72% J a n
48
48%
39 *2 J ’ l y 26
114 12f* 1 1 4
+ 114
U o p r e t ___________ __
114%
230
10 9
J n e .i u
114 % 114%
*114
114% * 114
114%
114
114
12 0
A lc h 9
*0 212 6 3
6278 6 3
6334 6 5
4 ,6 0 0 A m e r i c a n C o t t o n o i l . I l l
6 2 % J ’ l y 26
65
65%
63
65
65%
63%
69% M c h „
U o p r e t ________
*10 3% . . .
10 1
Feo
‘
106
A p r 19
*230 2 7 0 * 2 3 0 2 7 0 * 2 3 5 2 6 0 * 2 3 5 2 7 0 * 2 3 5 2 7 0 * 2 3 5 2 7 0
A m e ric a n e x p r e s s
§235
Aug
„2 0
Jan
4
*4
*4 %
434
438
4%
610 A m e r i c a n H i d e & L e a t h e !
3*2 S e p 13
4%
4%
4%
4%
4%
4%
4%
8% J a n
6
*20% 21% 20% 20%
*2
0
3
4
*21
"
2
3
400
21 21%
23
U o p r e t _______________
—
207s 2 1
19
Sep
8
4/% uan
5
18% 1 8 % 1 8
18
*18 %
18%
18%
1 ,3 5 0 A m e r i c a n I c e S e c u r i t i e s . !
§19
19
18 %
18 %
18 %
1 6 % J ’ l y 26
2 9 % M c h i,
*11% 12
500 A m e r i c a n L i n s e e d _____
12% 12% 12 12 *11 12 3 4 *11 1234 12 12
1 0 % J ’l y 2 7
1734 j a n
5
3334 * 3 1
*30 3 2
3334 1,000 U o p r e t _______________
32
3334 3 3 %
33% 33% * 3 1
34
25*2 J ’ n e j i i
46% J a n
3
+37% 3 8 % 3 8 % 3 9 % * 3 8
3634 38 %
38 % 38%
38%
38%
3 ,6 0 0 A m e r i c a n L o c o m o t i v e ! . .
29
J ’ly 2 6
39%
62% J a n
5
5104 10 4 * 1 0 2 % 1 0 4
10 4 %
* 10 3 78 10 6 % 10 3
10 3 % 10 3 %
1,010 U o p r e t ________
10 2 % A u g 6
10 4
10 4
115
Jan
7
4
*
4
5
4
%
4
%
4
4%
4%
*4
5
4%
41
4
O ct
1
40 0 A m e r i c a n M a l t C o r p ____
8
F e b .8
+3034 3 2
+31 3 2
35
*3 0 % 33
3 0 % 30%
3034 3034 * 3 0
200 U o p r e t _________ _
28 % J n e so
48
M c h 21
S678 8678, * 8 6 %
*8 6% 8 7
87
*8 6
87
87
86% 86% * 8 6
200 A r a e r S m e l t e r s S e c p r e t II 8 2 J ’ l y 2 3
90% j a n
.
67
67%
67%
68%
68% 69*4 6838 70 % 6 8 % 69% 6 9 % 6 9 % 48,820 A m e r S m e l t . n g * R e d n l n g 6 1 % J ’ l y 2 o 10 4 J a n 3
+101% 102% 1 0 1 % 1 0 1 7 8 1 0 1 7 8 1 0 2
102% 102% 101% 101% 101% 101% 1,261 U o p r e t ____
3
9 8 % J ’ l y 26 1 1 2 % J a n
*2 4 0
30 0
♦ 240
300
*2 10
*24 0
...
A m e r ic a n S n u tI
277
A p r 4 2.-5
*24 0
------- * 2 4 0
A p r 27
♦ 10 1% 1 0 5
101% 101% *100 101% *100 101%
*95
10 5
* 1 0 1 % 10 5
100 U o p r e t . . . ____________ 9 5 % J a n 13 1 0 1 % S e p 20
43
43% *4 3
42
42
43% *4 3
44
42%
42% *4 2 %
43%
1,200 A m e r S t e e l F o u n d " ( n e w ) " 3 8 J ’ l y 2 b 66 oan lo
11 5 3 4 1 1 7
113% 114
116 % 116 %
115
1 1 7 3 8 1153 4 1 1 7
111% 116
10,000 A m e r i c a n S u g a r K e t l n l n z 1 1 1 % O c t 3 12 8 % F e b I s
+110 120 1 1 2 1 1 5 *112 120 * 1 1 2 1 1 7 * 1 1 2 1 1 7 * 1 1 2 1 1 8
112
O ct 3
200 U o p r e t ______________
12 4
F e b 28
137% 137%
13 8 % 13 8 %
12634 J ’ l y 26
1377s 13 8
13 7 % 13778 13 7 % 138
137
138
4 ,2 5 5 A m e r i c a n 'l ’ e i e p h & T e i e g
1433g F e b 24
*9 3
941
94
941
94%
*9 1%
94
95
95
*9 2
94
93%
94
400 A m e r i c a n T o b a c ( n e w ) ,p f
90% J’ly 26 9 J % M c h U
30
30
30 % 307g
*27
2812J
3 0 % 30 %
28%
29% 30
29%
2,100 A m e r i c a n W o o l e n
25% J’ly 6 39*2 M c h 18
9438
*9 4
947g
♦ 92% 9 5
U o p r e t . . _____________
95% *9 4 %
94%
94
94
95%
800
9 i% J ’ty 5
104
M ch 7
3 9 % 40% z 3 9 %
39%
40
40
40
40 %
40 % 40%
5 ,5 0 0 / A n a c o n d a C o p p e r /Ja r l 2 5
40
40 %
Jan
3
{3 3 * 2 J ’ l y 2 6 * 5 4
28
*27
*27
28
28% *2 6
27%
28%
28
28
28% * 2 7
70 0 I J e t h l e h e m S t e e l _______
21
J ’ n e 31
34
Jan
3
*57
5978
58% 58%
587s
*57
58%
6838 583g
U o p r e t ............. .................
58%
59
59%
600 l J
49
A u g 10
47
t eb
65
Jan 1
*
1
3
4
%
1
3
6
*134
135
135
135
100
125
J ’t y 2 b
118
Jan
164*2 J a n
3
11%
11%
12
12
*11
12
12 %
12
*11%
§12
11%
11%
546 B r u n s w ic k T e r m & i i y S e e
8
J ’no^u
17% D o c
18 % J a n
30
*2 9 *2 30
*2 9 *2 3 0
28
J ’n e 3
*28*2 30
*28 %
+29*2 3 0
30
30
200 B u t t e r l c k C o _________
33
Jan
23% J a n
34
35%
31
34%
34%
34*4 35*2
34*2 3 5
34*4
25% J ’l y 26
4834 J a n
34% 35
1 1 ,0 0 0 / l e n t r a l L e a t h e r _
26% M e d
§ 1 0 5 % 1 0 5 % * 1 0 4 % 10 5 % * 1 0 4 * 2 1 0 5
+ 1 0 4 % 10 5 * 1 10434 10 4 34 1 0 5
10 5
U o p r e t ...............................
99% j ’l y 27 10 9 % M c h
1)1)3,, A p r
505
31%
3 2 % 33*?
32
3 2 % 327g
32
33
32*4 3 2 %
2 2 % J ’ l y 26
33
33
29
F eb
60 J a n
4.80C C o l o r a d o F u e l & i r o n . .
*4
6%
5
3
S
e
p
12
5
6
6%
5%
*5*2
7
7
92% J a n
5*8
*5*2
800 C o l & H o c k C o a l & I r o n
2 1% £ c d
13 3 % 134
134
134 %
13 3 % 134 %
1 8 2 % 13334 132*2 1 3 3 %
122
J ’ l y 26
13 2 *2 13 4 *? 1 8 ,0 0 0 C o n s o l i d a t e d G a s I N Y ) .
1003g J a n
114% F e b
! 1534 1 5 %
15%
1534
1534
16
10
1 1 % J U B30
15*2 15*>8
157g
23% J a n
15%
15%
2 ,4 0 0 C o r n P r o d u c t s H e l l n l n g . .
16*2 F e b
U o p r e l _____ _____ __
♦ 75
77% *75%
77%
*75
7 0 % J ’l y 26
77
863g J a n
*75*2 7 7 %
76
76*2
73% F e b
200
♦ 75*2 77*2
♦ 57
i . 'r c x C a r p e t ______________
64
*57
03
*57
*5 8
64
46
Jan
64
64
55
A p r A)
*6 0
61
♦ 60
6 2 % F e b 26
29
30
30
30
30%
29*2 3 0
30
3634
J
a
n
10
2
5
%
J
’
l
y
2
b
29%
2 9 % ♦ 29
30 %
D
i
s
t
i
l
l
e
r
s
’
S
e
c
u
r
i
t
i
e
s
C
o
r
o
5 ,3 0 0
52*2 F e b
*
*_ _
♦
* __
* __
25
25
2934
F e d e r a l A lin in g & S m e lt ’ ;
20
S e p 26
25
25
2 9 % +20
55 ^Ich
60
M ch 8
*47**2 5 0
*50
U o p r e f ____
_
48
48
48
48
59
54
48
O ct 3
59
59
59
872
80
Fob
88
Jan
♦ 144
14 6
146
146
148 %
1 4 7 * 4 152*2 1503., 152*2
14 6 *2 148 *2 1 4 7
9 ,7 0 0 G e n e r a l E l e c t r i c ___ __
460% F e b
6
134
J ’ l y 26 16 0 % J a n
8
8%
8
8
77g
$7 % S e p
8
8
8
8%
8%
2 5 ,8 0 0 d G o I d t l e l d C o n M . P a r f l O
77S
7%
S 9 % S e p 26
7%
983g 9 9
9S34 99
9934
4 ,5 0 0 1 u t H a r v e s t e r s t k t r e t t s
99
98*2 9 9 %
99
$83% F e b 3
98*2 99*2
99*4
’ "0 2
>»an
1 2 o 'g j a n to
♦ 121
12 1%
12 1% 12 1% *12 0
*120
122
121
12 1
12 2
*120
122
200 l
U o p ret s tk tr c t f s . . . r l l 7
A u g 11
129
Jan
10 9 % J a n
+5
63g
5*?
* 4%
* 4%
53g
519
*412
5*2
15 0 I n t A le r M a r in e s t k t r c t ls
5%
5*2
§5*2
4 % J ’ l y 25
7*2 J a n
.'% J ’} /
♦ 17
17
17*g
17
17%
17
U o p r e i _________ . . . __
17%
171* * 1 7 %
*17
17%
17%
14 % J a p
1 ,3 0 0
1 2 % J ’ l y 26
18 % J l y
123g 1 2 %
12
12 % * 1 1 %
12%
12%
12
12W
12 %
12*9
*11%
2 ,6 5 0 I n t e r n a t i o n a l P a p e r .
9
J ’ly
l
u% M c h
16
Jan
51
5 1%
51
*50
53
U o p r e t _______________
§51%
61%
4 1 % J ’ l y 26
5 0 1" 50W
8 50
5 1*2 5U-> z 5 1
61% J a n
4734 M c h
4 1%
41*9
42%
42
43
42*4 42*4 * 4 1 3 4 4 3
42%
41*2 42%
1 ,8 5 0 I n t e r n a t . S t e a m P u m p ___
54% J a n
33W F e b
3 6 % J ’ l y 26
847g
83% 83%
*
8
4
8
5
%
8
4%
84%
8 4%
85
U o p r e t _______________
*8 3
8 41* 84*2
515
78 *2 J ’ l y 26
82% J a n
90% J a n 1
10 0 3 , ’ 10 0
1 0 0 % 100*4 1 0 0 % 100*2 1 0 0 % 100*4 10 0
10 0
* 9 9 1 " 10 0
1 ,3 0 0 L a c l e d e G a s ( S t L ) c o m __
93-% J ’ l y 2 9
1 1 0 % J a n 10
404
J ’n e
92
92
9 2%
92
93
92
92
92%
_
9 1*2 9 2 %
2 ,8 0 0 - v l a c k a y C o m p a n i e s . _
9 1*2 9 2
79
J ’ l y 26
70
Jan
93
S e p 22
§
7
6
76
§75
75
Uo
p r o f _____
.
76*2 7 6 1 "
797
75*2 7 5 %
75*2 76*2
76*2 7 6 1 "
09% J a n
71
J ’ l y 27
(8 % j a n iu
n o
110
ll( )3 g
111
11 0 % 1 1 1 % *10 9*2 1 1 2
n o
§111
109*2 1 1 0 %
1 ,0 0 0 M a t i o n a i B i s c u i t .
10 0
Aug o
116% Jan
115
Jan
5
♦ 120
12 1% *12 0
122
12 1% 121% * 12 1
12 2
U o p r e t ...................
* 1 2 0 % 12 4
*120-% 1 2 2
100 L s
118 % J ’l y
6 12 6
J a n 17
118% Jan
*14
15
15
15
16 %
16 1 "
17%
17%
16 *2 1 7 %
17%
17%
14
S e p 17
2 ,3 5 0 N a t E n a m e l ’ s & S t a m p ’ g
1 2 % it e b
28*2 J a n
3
♦ SI)
*82
90
87
87
*80
87
*S2
*8 2
*80
87
U o p r e t ......................... ......
87
8 5 % M a y 13
82
Jan
9 6 % J a n 18
5238 523g
5334 5 5 %
71% F e b
53
53%
54
55
55%
55%
5 2 1* 5278
4 6 i? J ’ l y 26
7 ,6 0 0 N a t i o n a l L e a d ____________
89% J a n
4
♦ 103
10 6
10 13J J ’ l y 2 6
*10 3
D o p r e f _______________
10 6
*10 3
1 0 5 % * 1 0 3 * 4 10 4
*10 3
105*4
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222
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00
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145
Sep
BANKS ANL) TRUST COMPANIES— ,iANKER8' %jUOTAlTONS.
B anks
Bid
Ask
Banks
Brooklyn
B ro ad w ay J
B r o o k ly n i,.
U o n e y I s l’ dT
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375
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290 "
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275
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150
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E q u l t 'b l o T r 4 5 5
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F id e lity . . .
205
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290
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130
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310
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2 10
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l r u s t C o 's
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G u a r d ia n T r
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K n lc k e r b 'k r
L aw T I& T r
L in c o ln T r .
M a d i s o n ___
M u n n a tta n
M e r c a n tile .
M e t r o p o l 't 'u
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800
8 10
18 0
180
295
2 8 2 114 0
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tru st C o ’s
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S t a n d a r d T r 400
T l t l e U u * T r 14 9 7%
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320
U n io n T r u s t 130 J
115 0
U S A I t g & T r 460
470
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120 0
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375
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16 0 ‘
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13 0
12 0
l r u s t C o 's
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B r o o k l y n T r 405
C i t i z e n s ' ___
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200*
F r a n k l i n ___ 2 1 0
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270
H o m e _____
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500
L I s l L & 'Tr 2 9 6
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225
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175
315
125
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♦ B id a n d a s k e d p r i c e s : n o s a l e s o n t l m d a y . * L c s s t h a n 1 0 0 s h a r e s , t E x - r l g h t s . it N e w s t o c k
c E x - d l v a n d r i g h t s , .d N o w q u o t e d d o l l a r s p e r s h a r e .
t S a l s a t S t o c k E x c h a n g e o r a t a u c t io n th is w e e k ,
s E x - s to c k d iv id e n d .
U B a n k s m a r k e d w i t h a p a r a g r a p h d ll a r c S t a t e b a n k s .
N
e w
Y
o r k
S t o c k
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x c h a n g e —
B o n d
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r i d a y ,
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Jan. I 1 9 0 9 , the K vchange m eth od o t quotin'] bond s was c h a w e d , a i l arises are noio a l l —“ a n d in te r e s t" —sx ssp l /or in co m e a n d d e/ a u lted bonds.
UONDS
Pries
Prid ay
Oct 7
N . Y . S T O C K E X O fi A N O B
W k k k E n r iw i 0 (71 7
U
U
U
U
U
U
D
U
S
3
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8
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t > f . > « o v f r i n i u 'i i i
2 s c o n s u l r e g i s t e r e d .R IU 3 0
2 s e o u s o l c o u p o n ....c t t U 3 o
3 s r e g i s t e r e d ................. k l 9 l h
3 s c o u p o n .......................... f c l 9 } 8
3 s c o u s m a ll b o n d s ../ t illI s
4 s r e g i s t e r e d ............ .........11)2 0
4 s c o u p o n .............................1 1)2 0
P a n C a n 10 -3 0 y r 2 s .f c l9 3 0
F o r e ig n
X '
q -N
(a o ve n n n en i
A r g e n t in e — I n t e r n a l 5 s o f 10 0 9
I m p e r i a l J a p a n e s e G o v e r n i n 'l
S t e r l i n g l o a n 4 * a s .............. 1 0 2 0
2 d s e r i e s 4 *2 « ..................... 1 0 2 5
S t e r l i n g l o a n 4 s .................1 0 3 1
R e p u l) o l C u b a Os e x t e n d e b t . .
S a n P a u lo ( lS r a z ili t r u s t O s 10 10
U 8 o t - M e x ic o s 1 g O s o l 1 8 0 0
G o l d 4 s Ot 1 0 0 4 ..................... 1 0 0 4
•S ta te a n d C it y S e c u r it ie s
Y U l t y — 4 1 « s .........................I 9 6 0
4 % C o r p o r a t e S t o c k ........... i 9 6 0
4 % C o ru o ra te s t o c k ....1 0 5 8
. N e w 4 *2 S ..................................1 0 5 7
N e w 4 * 1 1 8 .................................. 1 1»1 7
4 *9 % C o r p o r a t e S t o c k . . 1 0 5 7
4 *2% a s s e s s m t b o n d s ___ 1 0 1 7
4 % C o r p o r a t e N t o o k ___ 1 0 5 7
II Y s t a t e — C a n a l I m p t 4 a . L960
S o C a r o l i n a 4 -g s 2 0 -4 o ...........1 0 3 .
T e n n n e w s e t t le m e n t 3 s . . 10 1;
V ir g in ia tu n a d e b t 2 - 3 s ...l0 0 i
(5s d e f e r r o d B r o w n B r o s u t t s .
M -S
F -A
J -J
J -J
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J -J
q -J
J -D
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M N
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j- J
J -J
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K n ilr o n d
a lu o a m a C e n t
bee S o B y
x i - l a b a M i d i (See A t C o a s t B i n e
A lb a n y A S u s a
(see D e i J s H u d
A lle g n e n y V a lle y Pee P e n n B it
A l l e g da W e s t
(see B u u B * p
A n n A r b o r 1 s t g 4 s ............/ i l 0 0 6 q - j
A t c li T & S E e— U e u g 4 s . 10 0 5 A -O
R e g i s t e r e d ................................ 1 0 0 5 A - O
A d j u s t m e n t g 4 s .............. A 1 0 0 6 N o v
R e g i s t e r e d ....................... / i l 0 0 5 N o v
S t a m p e d ............................../ ilO O o M -N
C o n v 4 s is s u e o l 1 0 0 9 ... 10 5 5 J -D
C o n v g 4 s ................................... l u o o J - l )
C o n v 4 s ( l u l l p d r o o t s ) . . lO til) J - D
J -i)
1 0 - y e a r c o n v g o s ............I u l 7
D e b e n tu r e s 4 s S e r ie s J .ll/ 1 2 F -A
S e r i e s K ................................. 1 0 1 3 F - A
E a s t O k la l ) iv 1 s t g 4 s . .1 0 2 8 M -S
S h o r t B i n e 1 s t 4 s g ............1 0 5 8 J - J
3 i)'o P r e s is P h 1 s t g 5 s . 1 0 4 2 .11- S
A tl K n o x
N
(See B <S> 14
A t l a n t i c C o a s t 1 s t a 4 s ./ il0 5 2 M -S
A l a M i d 1 s t g u g o l d 5 3 . . 1 0 2 8 M -N
B r u n s & VV l s t g u g 4 3 . . 1 0 3 8 J - J
C h a r l e s *fc 8 a v 1 s t g 7 s . . 1 0 3 0 J - J
B <te N c o l l g 4 s ................... o l 0 6 2 M -N
8 a v E «S> VV 1 s t g o l d O a . , 1 0 3 4 A - O
1 s t g o l d 5 s .............................1 0 3 4 A - O
0 11 8 p O C a <te G g u g 4 s . . 1 0 1 8 J - J
A t l a n t i c & D a u v (See 8 o u t l i R y
A u s t i n <& IS VV N oe S o u P a c i l i o
I V a l t & O h i o p r i o r l g 3 *2 8 .1 0 2 6 J - J
D
R e g i s t e r e d .....................a 1 0 2 6 q - J
G o l d 4 s ..................................... A 1 9 4 8 A - O
R e g i s t e r e d ........................ A 1 0 4 8 q - J
P i t t s J u u o 1 s t g o ld O s ... 10 2 2 j - j
P J u n Ha M l ) i v I s t g 3 *2 /i 1 0 2 O M -N
’ L K iX s W V n S y s r o f l s l 0 4 1 A l-N
O U tllW D l V 1 s t g 3 * a S . . . 1 0 2 5 J - J
R o g l s l e r e d ........................A 1 9 2 5 q - J
C e n O h i o R 1 s t c g 4 ‘a s . . 1 0 3 0 M - S
0 1 B o r *te VV c o n s i s t g 6 a 1 0 3 3 A - O
M o tio n R iv 1 s t g u g o s . .1 0 1 0 F -A
O h io R i v e r R l t 1 s t g O s .10 3 0 J -D
G o u e r a l g o l d 6 s ................ 1 0 3 7 A - O
P i t t s O le v & T o i 1 s t g Os 1 0 2 2 A -O
P i t t s 35 W e s t 1 s t g 4 s . . . 1 0 1 7 J - J
B t a t l a l R y 1 s t g u g 4 *as 1 0 4 3 J - D
8 e e c h C r e e k (see N Y o is i t
B e l l o v <X> O a r A c s I l l i n o i s C o n i
B X l y n 35 M o n t a u k
(sec l . o n g 1
B r u n s 35 W e s t (see A t l C o a s t B
B u l l a l o R Y 35 B r i e (see B r i o
B u l l a l o R 35 P g e n g 6 s . . . 1 0 3 7 M - S
C o n s o l 4 * 2 3 ...............................1 0 5 7 M -N
A U 35 W e s t i s t g 4 S g U . . 1 0 0 8 A - O
0 1 35 M a l i 1 s t g u g 5 s . . . . 1 0 4 3 J - J
l t o o l i 35 P i t t s 1 s t g O s . . . 1 0 2 1 F - A
D
C o n s o l 1 s t g O S..................1 0 2 2
B U d 35 8 U S(1 1 s t r o t g 4 8 .( 1 1 0 6 1
J
B u r U R 35 )N (see O R 1 35 P
i a u S o 1 s t e x t O a ................ 1 0 1 3 J - J
72 0 6 s ............................................ 1 0 1 3 M - S
R e g i s t e r e d .............................1 0 1 3 M - S
G a r b 35 B l i a w u
(see 1 l i c e n t
C a r o l i n a C e n t .Son S c a b A i r B
C a r t i l a g e 35 A d (see A V c 35 11
O e d R f a 1' 3s N
(sec u u u * A
on B ra n ch B y
(see .V lo P u o
e u t o f G a R R 1 s t g 5 a . . p l 0 4 5 E-A
P
m
ia
n
l
irtiltl
f>
u
< -5
C o n s o l g o l d 6 s ..................... i1■0. 4
M-N
R e g i s t e r e d ............................ 1 0 4 5 A l-N
1 s t p r o ! i n c o m e g O s ___ p l 0 4 5 O c t
S t a m p e d ............................................
2 a p r o i i n c o m e g o s ___p i 0 4 5 O C t
2 d p i e l iiie o m o g 5 s s t a m p e d
3 u p r o i m e o m o g 6 s ___ p l o iu
3d p ro f m eom o g 6 s sta m p e d .
S
t
S
A sic Lois
A O
J -J
j . j
M -N
F -A
F -A
E -A
E -A
J -J
J -J
J J
J -J
F A
A -O
VI. N
M -N
J -J
Afl-S
• N o p r ic e 1 n d a y ; la te a t t h is w e e k .
High
RO N D S
N. Y. STO CK
Price
Lrinau
Oct ?
E X C H A N G E
Wkkk Enrinu
oct
7
Low High
1 0 0 34 1 0 1 >4 1 0 1
A u g ’ 10
1 0 0 3 , 1 0 1 e, l O O 3, j ’ n e ’ 1 0
1013. 1023* 1 0 2 * 4 J ’ n o ’ 1 0
1 0 1 3. 1 0 2 * 2 1 0 2
S e p MO
1 0 i q J ’l y ’ 10
1 1 4 * 4 H o * , 1 1 4 *2 A u g ’ 1 0
115
1 1 5 *d 1 1 5 '2 S e p ’ 1 0
10 0 \ 10 1
10 0 °g A u g ’ 10
iU
S tr e e t R a ilw a y
B r o o k l y n B a p T ' r g 6 s ..........1 9 4 6
l a t r e f u n d c o n v g 4 a ___ 2 0 0 _
B k C i t y l a t c o u 5 a . 1 9 1 6 .1 9 4 1
B k q C o is S c o n g u g 6 a . 1 9 4 1
B k ly n U n E l l a t g 4 - 5 s .l9 5 n
S ta m p e il g u a r 4 - 5 S ....1 9 6 0
K in g s C o E l l a t g 4 a ....1 0 4 9
S t a m p e d g u a r 4 a ............1 0 4 0
N a s s a i l E l e c g u g 4 s ___ 1 9 6 1
C o n n l ty x fc B l 8 t < f c r e f g 4 * 2 s ’ 6 1
S t a m p e d g u a r 4 *2 S .............1 9 5 1
D o t U n i t e d l a t c o n g 4 *2 8 .1 0 3 2
H a v a n a E le c c o n s o l g 6 a . 10 62
I n t e r - . M e t c o l l 4 *28................ lliu b ’
I n t e r B a p T 3 -yr co n v 6a . 19 1 i
4 5 - y o a r 6 s S e r i o a A ..........1 9 5 2
I n t e r n a l T r a o c o ll t r 4 s . .1 9 4 0
M a n ila E le c l a t * c o ll 6 s . 19 5 3
Bangs
(since
January l
C e n t o i c a B i t — (Con)
C h a t t l a v p u r m o u g 4 8 .1 0 5 1 J - D
A l a c * N o r D iv l s t g 6s . 10 4 8 J -J
5 1 id G a * A t t D i v 6 a ___ 1 9 4 7 J - J
A l o b U o u i v i s t g 6 a ..........l o a d J - J
102*2 102*2 C o n B i t * B o l G a c o l g 6 a 1 9 3 7 M -N
c e n t 01 N J g e n ’ i g o l d O s . 1 0 8 7 J - J
1 1 4 ae 1 1 5 * 4
B e g i a i e r e d ........................ / i l 0 8 7
1 1 4 * 2 U S 3,
A m D o c k * Im p g u o a ..1 9 2 1
LO0» u 1 0 0 58
B e * i i u d B g u n g u g 5 a 192U j - j
B o l l * W i l k a B C o a l o a . . l 9 1 2 M -N
C o u e x t g u a r 4 *2 a ___ g i 9 1 o Q -M
0534 9 7
♦ 97
07H 97 Sep ’ 10
N Y * B o n g B r g e n g 4 a 1 9 4 1 M -S
(see S o P a c i l i o C o
♦ 0 4 54 S a l e
9 4*2
1)4*1
94
98*11 C e n t P a c i n o
93»*
933^
J 9 3 34 9 4*4
9 3 * 2 9 5 7e C e n t V e r m o n t 1 s t g u g 4 B . e l 9 2 0 Q - F
♦ 89*4 80»4 8 0 *2 S e p ’ 1 0
8 8 *e 9 2 * 2 C b a a * o a v (see A t l C o a a l B i n e
C l i o a * o h m g o l d O a ............a l 9 1 1 A - O
6 10 1*4 10 4
♦ 10 3
S a le
10 3
10 3
G e n l u n d i n g * im p t6 a .l9 2 y J - J
t 07
07** 0 7
S e p ’ 10
119 5
07*4
l a t c o n s o l g 6 a ........................ 1 9 3 9 M -N
(i 08 *2 9934
♦ 97
0 7 *2 07 *2
07 *2
B e g i a i e r e d ............................. 1 9 3 9 M -N
9 4 * 9 ............ 0 4 *8 S o p ’ 1 0
0 1 * 4 9 7 *2
G e n e r a l g o l d 4 * 2 8 ................. 1 9 9 2 M - S
hese are yr Ices o n the 0 asis 0 / $ 5 t o St
B e g i a i e r e d .............................1 9 9 2 M - 8
10 1*4 1 9 7 J00
C o n v e r t ib le 4 * s « (w h Is ). 19 3 0 F -A
1 0 1 U B a l e 1 0 1 »*
10 1°*
B i g N a n n y l a t 4 a ..................1 9 4 4 J - D
0 9*2 S a le
05*4
00*2 1 4 5
00
I0 0 « a
C o a l l U v B y 1 s t g u i s ..1 U 4 0 J - l )
0 9 *a s a l e
00 3 t
9 0 *2 2 8
90*4 100*2
C r a i g V a l l o y l o t g 6 a ___ 1 9 4 0 J - J
15
1 0 8 *4 1 0 8 34 1 0 8
10 8 *8
0 6 ‘s 100 7t
1 0 2 >4 1 0 3
P o tta C ro o n B r la t 4 a ..19 48 J - J
1 0 2 >2 S e p ’ 1 0
1 0 2 *2 1 0 3 * 8
1 0 8 '9 s a l e
B * A D iv l a t c o n g 4 a ..1 9 8 9 J - J
10 8
10 8 *8
106 *4 n o
2 d c o u a o i g 4 a ...................... 1 9 8 9 J - J
10 2*2 10 3
10 3
S e p ’ 10
1 0 2 * 4 103*8
W a r m s p r V a i l a l g 6 s . .1 9 4 1 M -S
9 0 ‘4 S a l e
U0*4
90*4
9 0*4 100*2
1 0 4 3» 1 0 4 7* 10478
G r e e n b r i e r B y l a t g u g l a ’ 4 0 M -N
‘ 05
1 0 1 *4 105
............1 0 4
10 3 *2 J ’ l y ’ 10
103 *2 10 3 *2 C l u e * A l t B i t r e l g 3 s . . . 1 9 4 9 A - O
Railway l a t l i e n 3 *2 8 . . . i 9 6 0 J - J
00
S a le
DO 00
10 9 4 *4 9 0
B e g i a i e r e d .............................1 9 5 U J
84** 88
OOVTdn’io
U 0 78 9 0 7s
C l u e B u r l * 14— D e n v D 4 a 1 9 2 2 F - A
40
44
46 Sep’10
40
68
i U l u o i a D i v 3 * 2 8 ....................1 9 4 9 J - J
K e g i a t e r o d .............................1 9 4 9 J - J
i l l s D l V 4 s ................................1 9 4 9 J - J
I o w a D iv a u ik lu n d 5 s . .1 9 1 9 A -O
S l u k i n g t u n a 4 a .................1 9 1 9 A - O
N e b r a s k a E x t e n s i o n 4 3 . 1 9 2 7 M -N
B e g i a i e r e d .............................1 9 2 7 M -N
S o u t h w e a t e r n D i v 4 a ___ 1 9 2 1 M - S
78
79
78
78
74
83*2
J
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i n t b o n d s (See G r e a t N o r t h
09*8 Sale
9 9*8
9 0 7* 0 2
0 7*2 1 0 1
9 7 3 4 ..........
D e b e n t u r e O a ...........................1 9 1 3 M -N
98
J ’n o ’ lo
08
10 0
G e n e r a l 4 a .............................1 9 5 8 M - S
0 2 q 92*2 9 2*4
02*.
88
95
02
J a n ’ 10
l l a u * s t J o 3 c o n a o i8 s ..i9 ll m - s
02
92
0 2 *« 9 3
C l u e * e i l l r o t * lin p g 4a 10 5 5 j - j
92**8
0 2 *2
89
0434
10 5
S a le
10 5
A p r ’ 10
1 s t c o n s o l g 8 s ............ . . . . . 1 9 3 4 A - O
05
117
1 0 4 * 2 10 5 * 2 1 0 5
10 6*2
U e u e r a l c o n s o l l a t O a . . . . 1 9 3 7 A l-N
00 122\
1 0 2 °* w a l e
R e g i a t o r o d .............................1 9 3 7 M -N
10 2 "a
*0 2*8
10 4 *4
10 3
10 9
10 8 *4
110
C l u e * i n u u B y la L u a .1 5 3 8 J - J
I 0434 12 2 « 8
9 8 7$ J a n ’ 1 0
(See E r i e
9 8 78 U 8 7a C h i c a g o * E r i e
9 8*2 E e b ’ 10
0 8 *2 0 8 *2 C h i o G t W e s t e r n 1 s t 4 s . . . 1 9 5 9 M - 8
A p r ’ 10
9 4 * 4 ............ 9 7
' u x e i n .So x ^ o u ia v r e x 0 0 . . . 1 5 4 / j . j
07
0 7 *.
0 3 *2 9 4 :*s 0 3 * 2
0 3 *2
B o l u u d i u g g o i d b a .............. 1 9 4 7 i J . J
02
O ja
1 0 8 * 2 1 0 9 * 2 1 0 7 * 2 J ’l y M O
E o u ia v N A * C h l a l 8 a . 1 9 1 0 J . J
10 7 *2 10 5*2
O h io I n d * S o u 5 0 - y r 4 s . . 1 9 5 8 j . j
9 0 *4 S a l e
98**
9 8 *4
02
0 6 7b C m o M U * s t p t e r m g Oa 1 9 1 4 J . J
1 0 5 3 4 ........... 1 0 9
S e p ’ 00
G e n e r a l g 4 a a e n e a A . . « 1 9 a o j .j
9 0 *4 J ’ u e ’ 0 9
04
...........
B e g i a i e r e d .......................... <>1989 o - J
12 8
...........
G e n e r a l g 3 *2 8 8 e l-ie 3 B . e l l / 6 9 j . j
92*4
9 3 *2 0 4
93
S a le
2 5 - y r d e u e n 4 3 ...................... 1 0 3 4 j . j
80
0 5*2
J ’ u e ’ OO
C h i c * B s u D i v g o a ___ 1 0 2 1 j . j
1 1 9 * 8 ......... 1 2 7
M a r ’ 1 0 . . . . I 112 112
C l u e * M o lt iv D iv 6 a ...1 9 2 8 J .J
1 1 0 * 2 ........... 1 1 2
05
J ’l y ’ 10 ...J
95
...........
C
h i c * P W l a t g 6 a ..........1 9 2 1 j . j
95
0 7 ‘q
D a k * G t S o g 5 s ................. 1 9 1 8 J . J
Jbar * S o u a a a u g 8 » ........... 1 9 2 4 j . j
26
93
S a le
B a C r o a a e * D l a t 6 a ___ 1 9 1 9 j . j
0 2 7*
03
90
03
91*4 O c t ’09
A l i n e r a i P o i n t D i v 6 a ___ 1 9 1 0 J . j
* 9*1) *4 8 a l e "
S o A l u m D i v l a t 8 a ............ 1 9 1 0 j . j
9 3 34
91**8
9 7 * 4 10 0 *4
0034 J ’ l y ’ l o
W i a * M i n n D i v g 6 a ___ 1 0 2 1 j . j
............ 9 9 *4
98
09
11 1*2....... 1 2 0 O c t ’ O l
A l U * N o i a t A t G 8 a . . . . 1 9 1 0 J -D
873 4
8 7 3,
8 7 a4 S a l e
l a t c o u a o i 8 a ........................ 1 9 1 3 J - D
87 \
8 0 *«
02
9 2*4
C l u e * N o r t h w c o n a V a . . . . i 9 i 6 Q.p
0 2 *4
02 *2
89
93
01
01*4 9 1
9 1*a
E x l e n a i o n 4 a ............1 8 8 8 - 1 9 2 8 * 1
89
9 2*4
89*2 A p r ’ lu
R o g i a t e r e U .............. 1 8 8 8 - 1 9 2 8 F - A
8 9 * 2 90*2
0 5 ‘4 .......... 1 0 3
M a r MO
G e n e r a l g o i u a ' g a ................. 1 0 8 7 M -N
110 3
10 3
....... 112
110
A u g ’ 10
B e g i a i e r e d ........................j ) 1 9 8 7 o - F
n o
113*2
1 0 1 * 8 ......... 1 0 6 7g E o b ’ 0 7
S in k in g lu n d 8 a ...1 8 7 9 - 1 9 2 9 A -O
D e o ’ 09
1 0 2 * 4 .......... 1 1 2
B e g i a i e r e d .............. 1 8 7 9 - 1 9 2 9 A - O
............1 1 0 3t 1 1 2
N o v ’ oO
S ln k m g lu n d 6 a ...1 8 7 9 - 1 9 2 9 A -O
100*4....... 1 1 9 *2 A l a i ’ 0 4
B e g i a i e r e d .............. 1 8 7 9 - 1 9 2 9 A - O
00
...
9 8 >2 S o p ’ 0 9 ;
D e n c u t u r e 6 a .......................... 1 9 2 1 A - O
10 0
N o v ’ U4
so
B e g i a i e r e d ............................ 1 9 2 1 A - O
S i n k i n g l u u x i d e b 6 a ..........1 9 3 3 M -N
B e g i a i e r e d ............................ 1 9 3 3 m -N
M U B e * W e s t l a l g 8 a 1 0 2 1 M -S
E x t * i m p a l u n d g 6 a 1 9 2 9 F -A
A a lU a n d D i v l a l g 8 a ..1 9 2 5 M -S
10 7
1 1 5 T8 u o t j J ’i y ’ i o
M 1 3 78 1 1 0 * 2
M i c h D i v i s t g 8 a ............ 1 9 2 4 J - J
10 7
10 0
10 6
J ’l y ’ 1 0
105
10 9*8
l u c o i n e a ................................. 1 0 1 1 M -N
100
100 | 6 9 8 1U 0
10 0
S a le
C h ic B o o k la t * P a c 8 8 ...1 9 1 7 J - J
1 1 4 * 2 ......... 1 0 3
J ’ l y ’0 8 .
H e g i a l e i e u ............................ j . y j 7 j . j
115
J ’n o 10 ,
1)4 * 2 118
115
117
G e n e r a l g o l d 4 a ......................l o s s J J
I t e g i a i o r e i l .............................i> js g j . j
1 1 5 * 2 1 1 1 ) *4 1 1 8 * 4 S e p M o .
1 10 *4 1 1 0 a4
72
M ar’ 1 0 .
72 72
B e l u u d i n g g 4 a ....................1 9 3 4 A - O
C o i l i r u a t S e n e a J 4 a . . . . 1 0 1 2 M -N
I 0 3 7g
1 0 3 34 10 4 *4 10 3 34
1 0 2 * 2 1 0 5 3.
M - a ............................................. 1 9 1 6 M -N
lO b ’ g 10 1*4 10 1* 4
3 10 U 3 8 1 0 1 3 4
10 1*4 '
R 4 a ............................................. 1 9 1 8 M -N
10 U 34 M a y ’ 0 7 .
O 4 a .............................................. 1 9 1 7 M -N
P 4 S ............................................. 1 9 1 8 M -N
C l ll O I t 1 * P iiO B i t 4 a . . 2 U 0 2 M -N
i t e g i a t e i e d ........................... 2 0 0 2 M N
B u r C it * N — l a l g 6 8 .1 9 3 1 A - o
B e g i a i e r e d ........................ 1 0 3 4 A - O
112 *2 J ’ n e ’ 10
.........
10 9
O K I E * A VV l a l g u u a . 1 9 2 1 A - C
1 1 2 * 2 1 13*2
1 0 7 °8
10334 1 0 9
10 (3 4 10 8
1 0 7 7a
M * S t B l a t g u g 7 s . .1 9 2 7 J - l)
7
113
A p r ’ OO
............1 0 8
C h o c o k * g g e u g 63 .0 1 9 1 9 J - J
0 0 *2
9 l 34 1 2
i l l 3. s a l e
0 1 34
82
C o u a o i g o l d 5 a ....................1 9 6 2 M -N
9 0 *4
1
84
99*4
K e o k E> D e a AL l a t 6 3 . . . . 1 9 2 3 A - O
9 0 *2 0 1 * 2 9 .1*4
8 7*2
8 7*2
8 7*2 1 0
75
8 0 *2 8 8
J lu o s t i- * N o
sea m c e n t 1
4
87*2
75
(see P e n n C o
8 0 *2 8 7 * 2 8 7
8 7 *2 J 1110 S t B * P i t t a
84
1 15
8 3 *2
8 3 *2 S a l e
75
JlUO S t P A t * G o o n 8 a . . . 1 9 3 0 J - D
80*4
8 4 *2
84*2 2 0
83
80
80
86
C o n s 8s r e d u c e d to S S a .iu J O J -D
Bid
q -j
q -J
q -tf
q -E
q -E
Week’s
Bange or
Last Bale
10 0 *4
10 0 *4
1()13 4
1 0 1 *4
Stf
IS C E R B A N E O U S
10 5
S e p * 10
8 3*a
8 3 *4
10 1* 2 J ’ly M O
9 0 *2 xM ar’ 0 0
102*4
102*2
10 2 * 2
10 2
8 4*4 A p r ’ 1 0
8 1*2
8 1 *2
78 * 2 S e p ’ l o
....... 102 1 0 2 * 8 A l a r ’ I t
1 0 1 34 A u g ’ l o
1 0 0 * 2 .........
J ’ly M O
80
80*2 8 0
0 4 3 4 ..........
04
A p r ’ 10
8 13* s a le
8 1 **
8 I 7,
10 2
1 0 2 “h
10 2
S a le
ll)l< %
1 0 l 7b
10 18 * 3 a lt
0 7 ** A f a r ’ 10
98
M a y ’ 06
10 2
10 4
83*2 8 s it
............10 1* 1
............ 0 0
1 0 1 * 2 1 0 2 Ji
10 1*2 10 3
............ 8 3
82
8 2 ‘2
70 *2 8 0
H E la t. a D u e J a n
10 1*4
lO i 34
109 3 4
10 3
54
Astc Low
09
f
6} ®
Bangt
(Since
January l
High Bo Low H igh
01
I 9 n » * S e p ’ 0 9 ......................................
83
1 0 3 ^ ............) 1 0 4 7* J ’ u e 0 8
10 3
............1 1 5
N o v ’05
1 O 0 « * ........... 11 1 0
J a n M '*
... 110
110
10 2 * 2 10 3 *4 1 0 2 S e p MO
..1 0 2
10 3
12 3** 12 4
|12 3
12 3**
15 120
12 5 **
1 2 2 *2 1 2 5 *2 1 2 2 *2 S e p ” 0 . . . . 12 U * 4 1 2 5
10 6
1 0 8 ** 1 0 9
S e p ’ 10 . . . . 1 0 7
1U 9
O S 3*
1 0 0 * 2 ............1 1 0 0 ‘s S e p ' i d
lU 0 > 2 1 0 1 * 4
.......................... !J-00
A l a y ’ 10
10 0
10 0 *4
95
87>*
89
8 7 *s S e p ’ 1 0
85
88
10 0
10 0
1 10 0 ** 10 1* 4
1 0 4 3 * 1i 0 4
S e p ’ 10
... 10 2
10 5*2
112
112 W ale 1 1 2
6 1 1 0 * 2 I I 434
1 1 3 * 2 l l 2 *a J a n ’ 1 0
J 112*2 112*2
1 0 2 34 3 5 ' 9 9
1 0 2 * 2 W ale 1 0 2
10 3*2
............1 0 1
l o n b J ’ n e M o . . . . 1 0 l 7a 1 0 1 7*
03 *4 W ale
0 3 *4
0 3 °* 4 2 3 1 8 9
9 5 *4
89*2 8 9
A p -------.
r ’ 10 . ..I 8 7
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New York Bond Record— Continued— Page 2
930
BO N D S
P r ie s
N. Y. STO CK E X C H A N G E
W k k k e n d in o o c t 7
Friday
Oct 7
C h i c S t e M <fc O — (ton )
O h S t P As M i n n l s t g 0 s 1 9 1 8 M -N
N o r W is c o n s in 1 s t 0 s ...1 9 3 0 J -J
S t P & S C ity 1 s t r 0 s ...1 9 1 9 A O
C h i c * W e s t l n d g e n g 0 s < 7 l 9 3 2 Q -M
C o n s o l 5 0 - y e a r 4 s ................ 1 9 5 2 J . J
C h i c ift VV M i c h Nee P e r e M a r q l
C h o o O A G u l f Nee C R I A P
C ln H & D 2 9 g o ld 4 4 s . . .1 9 3 7 ! J - J
C i n D As 1 1 s t r u r 6 s . . . 1 9 4 1 M -N
C F i n d <fe F t W 1 s t g u 4 » g . ’ 2 3 M -N
C l n 1 As W 1 s t sru u 4 s . 1 9 5 3 J - J
I n i l D e c <6 VV 1 s t g 5 s . . . 1 9 3 5 J - J
1 s t g u a r g o l d 5 s ................ 1 9 3 5 J - J
C 1 S t L As O Nee O U O As S t L
C in s & C
Nee C C 0 S t L
O l e a r h e l d <fe M a h
Nee H R As P
C l e v C m C <& -St L g e n u 4 s 1 9 9 3 J - D
C a ir o D iv 1 s t g o ld 4 s . . . . 1 9 3 9 J - J
C i n W Ao M D i v 1 s t g 4 8 . 1 9 9 1 ' J - J
S t L D i v 1 s t c o l t r g 4 s . . 1 9 9 0 M -N
K e g i s t e r e d .............................1 9 9 0 >1-N
8 p r * C o l D iv 1 s t g 4 a ..1 9 4 0 M S
W W V a l D iv 1 s t g 4 s . . . 19 4 0 J - J
0 1 S t L As C c o n s o l O s . . 1 9 2 0 N l-N
1 s t g o l d 4 s ................. . . . . £ 1 9 3 0 Q - F
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G e n e r a l c o n s o l g o ld 0 a .1 9 3 4 ' J - J
K e g i s t e r e d .........................1 9 3 4 J - J
l n d B 1 A W 1 s t p r o t 4 8 .1 9 4 0 A - 0
0 l n d As W 1 s t p f 6 s . . . 0 1 9 3 8 Q - J
P e o As E a s t 1 s t c o n 4 S . . . 1 9 4 0 , A - 0
I n c o m e 4 s ............................... 1 9 9 0 A p r
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C o l M i d l a n d 1 s t g 4 s ............ 1 9 4 7 J ■ J
C o l o r a d j * S o u 1 s t g 4 s . ..1 9 2 9 F -A
R e l u n d As e x t 4 5 s ............. 1 9 3 5 M -N
F t W (to D e n C 1 s t g 0 s . . 1 9 2 1 J - D
C o l u i n (to G r e e n v
Nee S o K y
C o l & D o c k V a l Nee H o o k V a l
C o l & T o l Nee H o c k V a l
C o l C o n n (to T e r m
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C o n n (to P a s K i v s 1 s t g 4 8 . 1 9 4 3 A - 0
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a k (to G t S o
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a l i a s (to W a c o
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D e l H a c k As W e s t e r n —
M o r r i s & E s s e x I s t 7 s . . . l 9 1 4 M -N
1 s t c o n s o l g u a r 7 s ......... 1 9 1 5 J - D
K e g i s t e r e d .......................1 9 1 6 J - D
1 s t r e f g u g 3 ‘u s ..............2 0 0 0 J -D
N Y L a c k <to W 1 s t 0 s . . . 1 9 2 1 1 J - J
C o n s t r u c t i o n 6 s ............. 1 9 2 3 ; P - A
T e r m As n n p r o v e 4 s . . . . 1 9 2 3 M -N
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1 0 - y r c o n v d e b 4 s ............. 1 9 1 0 ' J - D
1 s t l i e n e q u i p g 4 5 s ___ 1 9 2 2 1 J - J
1 s t if c r e f 4 s ............................. 1 9 4 3 M -N
A l b (to S u s c o n v 3 4 js ..........1 9 4 0 A - O
K e n s (to S a r a t o g a 1 s t 7 s . 1 9 2 1 M -N
D e l K i v K K B r i d g e Nee P a K K
D e n v (to K U r 1 s t c o n g 4 8 . 1 9 3 0 J - J
C o u b o I g o l d 4 5 s ....................1 9 3 0 J - J
I m p r o v e m e n t g o ld 6 s . .. 1 9 2 8 J - D
1 s t 33 r e f u n d i n g 6 s ............1 9 5 5 F - A
K io G r J u n o 1 s t g u g 6 s . 19 3 9 J -D
B io G r S o 1 s t g o ld 4 s . ..1 9 4 0 J - J
G u a r a n t e e d ...........................1 9 4 0 J - J
R io G r W e s t 1 s t g 4 s . . . . 1 9 3 9 J - J
i l g e a n d co l t r u s t 4 s A .1 9 4 9 A -0
U ta h c e n t l s t g u g 4 s ttl9 1 7 A -O
D e e A l o i (to F t D
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D e s M o i U u K y 1 s t g o s . . 1 9 1 7 M -N
D o t & M a c k 1 s t lie u g 4 8 .1 9 9 5 J - D
G o l d 4 s ........................................... 1 9 9 6 J - D
D e t SO — U S D IV 1 s t g 4 3 .1 9 4 1 M -S
D u l( & ir o n lta n g e I s t 6 s .. l 9 3 7 A -O
K e g i s t e r e d ................................. 1 9 3 7 A - O
2 d 0 s ...............................................1 9 1 0 J - J
D a l S h o rt L in e
Nee N o r P a o
D u l S o S h o r e (to A l l g 6 s . . 1 9 3 7 J - J
L 'a a t o l A U u n
Nee S t P M A M
J. J a a t T e n V a As G a Nee S o K y
E l g i n J o l cto E a s t 1 s t g 6 s . 1 9 4 1 M -N
E l m C o r l & N o Nee L e h As N V
E r i e 1 s t c o n s o l g o ld 7 s . . . . 1 9 2 0 M -S
N Y & E r i e 1 s t e x t g 4 s 1 9 4 7 M -N
2 d e x t g o l d 6 s ......................1 9 1 9 M - S
8 d e x t g o l d 4 5 s ..................1 9 2 3 M - S
4 t h e x t g o l d 6 s ....................1 9 2 0 A - O
5 t h e x t g o l d 4 s ....................1 9 2 s J - D
N Y L E & W ( S t g td 7 8 .1 9 2 0 M -S
E n o 1 s t c o n g 4 s p r i o r . .1 9 9 0 J -J
K e g i s t e r e d ........................ 1 9 9 0 J - J
1 s t c o n s o l g e n H e n g 4 s l9 9 U J - J
K e g i s t e r e d ........................ 1 9 9 9 J - J
P e n n c o l l t r g 4 s ............1 9 6 1 F - A
5 0 - y e a r c o n v 4 - A ___ 1 9 6 3 A - U
do
S e r ie s B .1 9 6 3 A -0
B u l l N Y (to E r i e 1 s t 7 s . . 1 9 1 9 J - D
C l u e (to E n o 1 s t g o l d 6 s . . 1 9 8 2 M -N
C le v & A la h o u V a i g 6 s . 1 9 3 s J -J
L o n g D o c k c o n s o l g 0 s ..1 9 3 5 A -O
C o a l (to K K l s l c u r g u 0 8 .1 9 2 2 M -N
D o c k (to I m p 1 s t c u r 0 s . . 1 9 1 3 J - J
N Y (to G r e e n L g u g 6 s . 1 9 4 c M -N
N Y S u s (to W 1 s t r e t o s . 1 9 3 1 J - J
2 d g o l d 4 5 s ...........................1 9 3 7 F - A
G e n e r a l g o l d 6 s ..................1 9 4 o F - A
T e r m i n a l 1 s t g o l d 6 s . . . 1 9 4 3 M -N
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\V U k (to E u 1 s t g u g 5 s . 1 9 4 2 J - D
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Range
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1 2 7 Hi 1 2 9 A l n y ’ 0 9
... 1 1 1 34 A u g ’ 1 0
10 70 8 112
1 0 8 H1 J ’ l y ’ i o
9 2 -5 S e p ’ 1 0
9 1 7s 9 3 5
122
12 3
127
122
112
113
10 6
8004 89
102
104
1 1 134 U 4**8
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88
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105
10 1
87*4
10 134 10 7
9434
95
95
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91
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9 6 34 9 0 i4 9 5 ’ 4
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100
90
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140
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79
85
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89
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74
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98
102
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118 *4
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110
115
120
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10 3 5
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98
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102
97
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102 1 0 1
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113 *4
80*4 8 8 » i UU
10 2 5
10 2
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Price
Friday
Oct 7
R id
Week’s
Range or
Rant Hale
Asli Rents
2 a !|
Range
S^l
Nince
**16 1January
1
U tg/l No Row R ian
O c t ’09
1 0 5 * 8 . . . ___ 1 1 4
Ar As l n d 1 s t c o n g u g 6 s . . l 9 2 0 J - J
E r ie & P ltte
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New York Bond Record— Page 4— Concluded
BO N D S
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9/
97
G e n g o l d 4 s ............................... 1 9 4 3 A - O
M o r t g u a r g o l d 3 % s . . / c l 9 2 0 J -D
90
90
8 / % UO
i
>J0
J ’u o 10
I n c o m e 6 s ............................... < ( 1 9 4 3 X o v
T h r o u g h s t b 1 s t x u 4 a \> 4 A - O
94
88
92
9 1%
94
S e p TO . . . . 10 3
\V e s t X o C a r Ree S o u t h R y
6 l l & s A M & p l s t o s . , 1 9 3 1 M -N
10 9
106 *4 1 6 3 % 1 0 9
G l i a V G ife X l s t g u g o s . l u 2 4 M -N
W u e o l ’ g ife b E 1 s t g 6 s . . . 1 9 2 6 A - O
■ 10 4 *4
. -
W h e e l D i v 1 s t g o ld 6 s . . 19 2 8 J - J
H o u s E ife W T 1 s t g o s . 1 9 3 3 M -N
106 *4 May’oo
E x t e n d , im p g o ld 6 s . ..1 9 3 0 F -A
1 s t g u a r 6 s r e d ..............1 9 3 3 M -N
10 6
lu r
10 3 *4 A u g lo
. . 10 3 % 10 6 %
H & T C 1 s t g o s m t g u .,1 9 3 7 J - J
R U l s t c o u s o l 4 s ................... 1 9 4 9 M - S
110 % H O
0**P T O . . „ 1 0 9 % 1 1 0 %
n o
C o n s o l g Os i n t g u a r . . . 1 9 1 2 A - O
20 -y e a r e q u ip s t 6 s ...1 9 2 2 J -J
1 0 9 * 4 1 1 0 % 1 0 9 % X o v ’ im
W U k e s ife E a s t Ree E r i e
G e n g o ld 4 s i n t g u a r . . 1 9 2 1 A -O
96
92
A u g lo . ..
92
98%
93%
W U co S i o u x F Ree S t P M ife M
W a c o ife X W u i v 1 s t g Os ’ 3 0 M -N
122
l lo
1 1 9 *4 M u i T u . . . 1 1 9 * 4 1 1 9 - 4
VV i s C e n t 6 0 - y r 1 s t g e n 4 s 1 9 4 9 J - J
A <fe X W 1 s t g u g 6 s . . . . 1 9 4 1 J - J
102
. 10 7 % -* * * * * 0 9
n o
S u p if e D u i d l v i f e t e r m l s t 4 a ’ 3 6 M -N
M o r g a n ’s b a ife T 1 s t 7 s . 1 9 1 3 A o
. 1 2 2 % - * u g ’ u 8 _ '*"•1
1 s t g o l d O s ............................ 1 0 2 0 J - J
n o
I'elegruplt mid Telephone
N o o f C a l g u a r g o s ............ 1 9 3 8 A - O
. 112
F e b ’07
O r e ife C a i 1 s t g u a r g o s . 1 9 2 7 J - J
iO O
A m i ’e i e p ife T e l c o U t r 4 s 1 9 2 9 J - J
lo O
.lo o
J ’n o ' i o . . . lu o
l U l *4
..
8 0 P a c o f C a t — O s E ife if . 1 9 1 2 A - o
c o n v e r t i b l e 4 s .......................1 9 3 6 M - S
. l o l % J ' n e ’ Orf .
lU l %
1 s t g o l d O s ............................1 9 1 2 A - O
M ic h S t a t e T e lo p 1 s t 6 s .. 19 3 4 F -A
1 s t c o n g u a r g o s ............1 9 3 7 M -N
10 7*4
a Y T e l e p I s t i f c g e n s f 4 *2 8 . ’ 3 9 M -N
- 116
M ay’o7
100*4 10 0 % l o l
8 P a c o t X 5 1ex 1 s t g o s ..1 9 1 1 J -J
a c T e l i f c T e l i s t o s ............1 9 3 7 1 J - J
M a r io . .. Lui
io i
93
81
80 P a c C o a st 1 s t g u 4s g . 19 3 7 J - J
VV e s t U m o u c o l t r o u r o b . 1 9 3 8 1 J - J
90
J 'l y u 9 _
102
T e x if e X U S a b D iv is t g O s .1 9 1 2 M -S
1 0 2 % 1 0 1 ’ * M a y * lu
M i a u u r e a l e s t g 4 * 2 3 . . . 1 9 5 0 M -N
.. io i % 10 2 %
____ . l o t
10 0
C o n g o l d o s ..........................1 9 4 3 J - J
Nov u y _
C o n v 4 s , S e r i o s A ..............1 9 J 6 !M -N
R
U
Week’s
l i s
Range or Ip o
Last Rale
Range
Since
January l
a sic Lo w
77ir/4| Ro Low Higtx
9 5H S a le
9 1 7s
U3®0 1 5 2
9 3 14 9 6 * g
1 0 8 34 S a l t
10 8 %
1 0 ri\
1 8 10 3 *8 1 1 1 * 4
110
M a y ’09
225 73
7 6 ns S a l e
7 6 ‘s
77
81’ *
8 0 % ..........
86%
86%
8
85
90%
10 7H i n o
10 8
S e p T O . . . . 106
n o
85
86
.
.
.
.
’
1
80%
87
86 b e p T O
S e p ’ 08
1 0 5 * 2 .......... J O S
...........
80
S o p T .t
*93
93%
92
J ’n e ’06
70
10 9
J ’ n e ’ O.i
10 5 H
10 9
110
F e b T O . . . . 106
n o
111
S a it
111
11 1
1 109 114%
10 0
........... 1 0 6
F e b ’ 1 0 . . . . 106
106
............ 6 7
X o v ’o9
65
1 1 1 * 2 ........... 1 13 34 S e p ’ l 0 T T T n % 113%
10 9
............ 1 1 4
S e p ” 0 . . . . 114
114%
102 ....... 115**8 A p r ’ 0 6
70
............
82
K o v ’ OS
l O d t , A p r ’ 1 0 . . 1 ! 106% i0 6 %
10 3
10 8
1 0 3 % ........... 1 0 5
M a y ’ 10 . . . . 105
107%
75
C o t ’0 8
71
...........
10 3 *4 10 4
10 3
S e p T O . . . . ib a
104
106-2....... 1 1 2 O c t ’ Oil
........*
10 3
............ 1 0 8 * 2 D e o 0 6
10 5
. . . . . . 1 0 7 ;H D e c ’ 0 9
10 4
............ 1 0 5 ° 8 J ’ 1j 10 : : : : t o 5% i o 7 %
10 7
D e o ’09
86
91
F e b T O - — |l 91
91
104
lb O * « y i u y ’ l o . . . . 1 0 6 % 106%
....... 100
104
10 6
10 8
110
9 7 H i.........
10 8 *4 1 0 9
l!
l 0 0 \ S e p ’09
1 0 7 * ^ A p r ’ 1 o ...' 1073»I07*a
10 9
A u g ’ 1 0 ... 109
115 Hi
9 8 *s
u 8 *«
111 96 98 Hi
10 9
M a y ’ 10 — T o y
10 9*4
1 1 1 * * S a le
110 « *
111*4
60*« 6 6
70
M at T o
98
10 3
S o p ’0 9
............................ 1 0 6 * 2 N’ h v ’ 0 4
1 0 7 * 2 l O 9 H i !1 0 8
S o p ’ JO
10 5
1112
s e p ’09
99
A u g ’ 10
1 0 1 * 2 ...........
8 8 * 2 ............ 9 4 *4 M a t " 1 0
9 1 a* 9 3 34 9 3
Sop ' 10
8 7 - u ............ 8 7
A u g ’ 10
............ 7 7 * 4
77*b
.7 * 8
82
81
S ep TO
8i
8 6 *4 - - - - - 89
J ’noT O
10 3
10 7
10 3
J ’uoT O
84
86
G o t ’09
l O i 3# s a l t
lo i* »
lO lH i
100
10 0
10 3
s u it
1U 2 ’«
103-V,
9 7 *2 s a l e
97
8 1-2
96
9 8 * 8 9 0 34
9 G 34
116
116 *2 ll6 * a
1 1 0 *8
112*4
1 1 2 * 4 4 1 2 ’8 1 1 2 * 4
9 3 *4 9 4
9 J j4
94
94
J a n ’u9
1 0 7 *« D e o ’ 0 9
10 3
18 108*2 112*4
— 'I 70 70
.
,...11......
. . . . i o o " i i 'a n i
___n
....i
99
10 4’ *
9 0 * 2 *94*4
92
0 3*2
87
90
l: 7 0
81
8 0 * 2 8 6 *4
8 7*4 9 1
10 0
10 6
99*4 102
08*2 101*2
10 1
1 1 0 a4
236 1 95
9 8 *4
10 , 9 4 a4 9 8 * 2
l 'l l l B ^ 1 1 7
7 10 8 *4 1 1 3 ’ *
30 , 9 1
94’#
S
9G 3
N o v ’ 08
A p r ’ 10
96
8
10 5
1 1 0 Hi 1 0 5
94
J ’l y T O
bep TO
LO e-b
i O O 'i
1U 0
J ’ly T O
86
....... 99 1 0 0 J ’ n e l o
....... 86*2 UO i i a r T o
65 *» sale 6 5
66
loo *8....... l o o J ’l y T O
D e o 'o o
83
T a " " ii"
7 4 *a S e p T o
83
............ 6 3
S ep TO
39 Sale 3 8 * 2
36
39 Hisum 3 8 ,*n 3 9 * 2
6-2 S o p T O
......
6*2
6 Hi s a l e
6 *a
6
93*a 95
10U>4
1 o 9 j4 s a l t
10 0
s a le
............iU O
89*4 S a le
8 9 *4
86*4 suit
86 a4
..." 1 0 5
. . . M 94
3 1 10 /
V|| 9 8
...
101*2 ....
9 3 Hi S a l e
93
93 H
93*a
9 3 *4
86
77
90
62H»
64
in *
12*4
88*2 9 0 *4
82*4 86*2
89*4
86*4
6 8 *2
73
74*,
109 -4 1103*
86*2 92
1 0 5 *e S o p T O
104
J a n 'i O
10 2
j u e ’ lo
82
82
99
D e c ’ 06
9 *6 *2 . . . .
82
86
9 3 na . . . .
10 8
U8Hj
1 1 3 3*
10 3 *2
. . . nl o o
102
... I I 9 0
90
66*4 7 7 ^
. 10 6
10 7 *4
7 i* < j F o b l o
73 2 A p r T o
1 0 0 -2 A o v 'o O
110
J t ie l u
8 6 *2 S e p T o
34
l ‘ e o ’o 7
11*1*4 1 1 1
til . . . .
86
96
1 0 l a* 1 0 6
10 4
10 4
09
10 2
77
87*4
94
96
94
93*4
9 1 *a
10 3
87
U 8*a
97
9 9 *4
94
10 1*2
S a le
01
01*8 5 7
s a le
10 3
1 0 3 4s 3 7 8
lO d
96
A u g ’ lu
s a le
98
9 8*4
s a le
U e ’,
9 / *4
S a le
93
9 9 ’a
96
9634 05
1 0 i 34 1 0 2
Sep T o
J -D
J -J
10 0
93
S a le
b a le
M -S
........... 0 2
9 1 % S o p ’ *0
9 1H ) «3>»
92%
93%
9 2% b a le
44
9U ** 9 4 %
87%
89
08
A ug’li
87H i 8 9
............ 9 7
98
J 'l i e 'l l
90
9b
0 6 % 10 5
10 0
M ay' 1 ,
10 0
10 0
36
...........
35
A u g IQ
40
96
...........
96
b o p ’ lu
98
6 5 °» b a l e
66%
60
31
71%
79
81 % 78
S o p TO
83
95
............
* 9 0 % ...........
90 %
90 %
90%
94
3
83% 85%
90
Sop TO
90
90
95
J ’ l y ’ 0 9 ....
..........................
1 12
J ’ l y ’ 04
............1 0 4
.0 3
A u g ’ 1 0 ....
8 9** 93
98
10 0 *4
96
9y
9 6 a4 9 9
96
<J9 ’*
97
1 0 0 -a
93
0 7 -4
1 0 0 1 * 1 0 2 **
ill IsC H . LAN Kolb'S BONDS—Concluded.
Q l n n i i l n c t u i ’ i n g A lu d iiN ti-in i
G e n E l e c t r i c d e b g 3 H ie .. 1 9 4 ' 1 0 - y r g d e b o s ......................... l b i .
I n t P a p e r C o 1 s t co n g O s .lo l
C o n s o l c o n v s t g 6 s .......... 1 9 3 0
I n t S t P u m p i s t s f o s . ...1 9 2 9
L a c k a w s t e e l is t g .> s ....l9 2 o
N a t E n a n iife S t p g 1st 5 s . . i 9 2
N Y' A i r u r a K o i s t c o u v 6 s ’ 2 b
R y S t e e l S p g s 1 s t s f o s . . .1*9 2 i
R e p u b l & o I s tifc c o l t r 5 s . 19 3 4
U n io n D a g & P 1 s t s i 6 s ..lU 3 e
S t a m p e d .................................................
■U S b e a t U C o s 1 d e b g 6 s . . 1 9 1 3
U 8 R e a l t y ife I c o n v d e b g 6 s ’ 2 4
U 8 R e d ife R e f 1 s t s t g 6 s . 1 9 3 1
U S R u b b e r lO -y r c o li t r 6s . T 8
U S S t e e l C o r n — 1 c o u p .c / 1 9 0 3
S f 10 -6 0 y r o s . ( r e g , . a l 9 o 3
Manulnctuniig ,fc Industrial
F -A
J -D
F -A
J -J
M -S
A U
J -D
■a -N
J -J
A O
J -J
3 -N
J -J
J -J
J -D
M -N
M -N
80
82
82
J an ’i
146
S a le
139 *2
r4 6 H i
10 1
lu i
10 1*2 S a lt
85
84
8 5 *4 8 5
92
9 2*4
92
92
S o p ’ !0
90
9 6 3* 9 7
Sop T o
96
lo 4
10 3
10 3 * S a fe
J ’ly TO
9 7 * 2 ............ 9 7
10:*
102 101 1 0 3
M a y 'lb
............ 9 i 34 9 3
93
M u y ’ lO
........... 9 6
1 0 4 -2 1 0 5
10 4 H ) A u g u
87
o7~
87
S a le
84
90
b 7 J4
8 ->*s
l o ‘2 3* S a l e
I 0 2 a*
103 *4
10 4 « S a it
10 1
10 4 *4
10 3 ’ e S e p T o
* N o p r i c e F r i d a y ; l a t e s t b id a n d a s k e d t h i s w e e k .
b D u o i ’eb
82
82
130 147 H
i
LOO 105
8 2 34 8 9 * ,
92
96’a
9 8 ’ * lO O
94
9 7 ’\
100 114a4
96*2 9s *2
102
10 4
10 4 *2
8 5> a
86
1 0 1 a4
10 1*2
10 1 ’*
10 5
94*4
Uu*2
10 4 *2
10 5 s
1 0 6 34
93
93
96 H
96 *2
d D ue A p r
J a - C a r C lio m 1 s t 1 6 - y r 6 s 1 9 2 3
. V e s t m g h o u s e E ife M s t 6 s ’ 3 1
.ilia c e ilu iie u u s
A d a m s e x o o i t r g 4 s ........... 1 9 4 8
A r m o u r A s C o l s t i e a i o s t 4 -2b ’ 3 j
t i u s h T e r m m a l 1 s t 4 s ..........1 9 5 2
C o u s o l 6 s ......................................1 9 5 5
C U ie J o ife
t Y ard c o ig o s .lO ie
n e t . U ife M i d g r i n c o m e s . . 1 9 1 1
i i i s t i t f o r I r r i g W a s 4 -2 8 1 9 4 3
l u t M e r o a n M a r in e 4 * 2 3 .- 1 9 2 2
in t N a v ig a tio n L s t s f 6 s .i9 2 9
X e v v p X e s h i p ife D D 5 s R 1 9 9 0
X Y D o c k 6 0 -y r l s t g 4 s ..1 9 5 1
P r o v id e n c e s e c d e b 4 s ....1 9 6 7
P r o v id e n t b o a n b o o 4 T s . 19 2 1
6 Y u o a W at C o co u g 6 s ..19 23
W a s h W a te r P o w 1 s t 6 s .. 10 3 9
< D u e M ay
g D u e ,1’ n e A D u e J ’ l y
J-D
A -O
J -J
J -J
A -O
M-N
A -O
F -A
J -J
F -A
M -N
M -S
J -J
J -J
fc D u o ,
99%
0 L%
10 0 * 4
n
03
18 4
i G et p D uo N ov
9 0 *2 1 0 0 * *
86
93
s O u t i o u S a l«
CHICAGO STOCK EXCHANGE— Stock Record— Daily, Weekly and Yearly
STOCKS—HIGHEST AND LOWEST SALE PRICES
Saturday
Oct 1
*___ 155
*llo 1>1
*6 . . .
64
64
15*2 153
*7
8
*1
41
4
41
*20
23
*70
73
*17
20
61
62
*18
22
*___ 60
58 68
*9
91*
4912 49*;
Monday
Oct 3
i«__
*6
041.
*15*
*7
*4
4
Tuesday
Ocl 4
Wednesday
Ocl 5
Thursday
Ocl 6
155 *___ 155 K
155
♦it > 2*?
2*.
* 1*2 21
64*.
*6
*64
10
*15*
8
*7
4*4 *4
4
4*.,
*20
23
23
*70
73 *70
*17
20
*17
*60'. 62 *01
*18
*18
22
*__
60 *
5712 57*2 *57
9*i 93, *9
*4812 50 *48*2
65
16
8
*6
*64
15
*7
*4
4
4*.
4*.
23 *20
73 *70
*17
20
61
(32
*18
22
60 * _
*57
58
97S
9*2
50
50
65
15*2
8
4*4
4*s
23
73
20
61
22
60
58
9'8
50
Sales
of the
Week
Shares
Friday
Ocl 7
Last Sale 1S5 Mch'10
Last Sale ll 2 July’ 10
Last Sale 4
July’ 10
*G0 65
65
6 7‘<;
157g 157*
*15
10
Last Sale 9
July’ 10
Last Sale 1*2 Scpt’ 10
*4
4U
4
4
*20 23
*20
23
Last Sale 71*4 Sept’ 10
Last Sale 19 Sept’10
*60
62 *60
62
Last Sale 20
Sept’ 10
Last Sale 65 June’10
58 58
*57
59
078 10
978
978
60
60
50
60
„ T
Range for Year 1910
STOCKS
CHICAGO STOCK
■EXCHANGE
Highest
Miscellaneous
83S 83s
81, 81.
83s
83S S3s
8I4 8I4 *8
8*4
400 American C an..
100
08 OS's 683, 68-lj 0S7s 68<s 6S7s G37g 6S3.1 6884 *68
69
366 no pret—
00
_ *250 251 *250
*250
*213 250lg 250 250 *250
255
11
American
Radiator. 100
131 *___ 131 *__ 131
*___ 131 *
Ivasl Sale 126 July’ 10
Do pref............
100
*70
*76
77
79
77*2
77*2 *71
*75
71
76
*74
76
Amer Shipbuilding. 100
*108 1031" *103 103*2 *103 108*2 +108 1081?
Last Sale 108i2 Sept’ 10
Do pret.................. ioo
*13712 138H *137*2 138*2 *13712 13812 13734 13734 13734 13734 *137
134
Amer Telep & Teieg.
Last Sale
June’09
Booth (A) & C o .. '100
Last Sale
June’09
Do pref__________ 100
*32
*32 35 *32 35
35
*32
35
Last Sale 35
Sept’ 10
Booth Fisheries com
63
63 *6212 64
*82H 04 *6212 64
*60 64
Do pref_________ *”
*60
64
*48
60
*48
50 *48
50
*48
60
Last Sale 47
Aug’ 10
Cal & Chic Canal &*l3Iioo
1*8 *1
*1
1*8 *1
Last Sale
1*8 *1
I '8
Apr’ 10
Chic Urew’g & Alalt’g .
+2
*2
3
*2
3
3
*2
3
Last Sale
Do pref_________
~
Sept’
10
38
*37
33
38*4 3834 39
39
39
3878 3912 393s 39*8
395 Chic Pneumatic ToolZIoo
11912 120 *120 122
120 120
120 120
120 120 *120
121
156 Chicago Telephone___100
Last Sale 2*4
Feb’OS
Do rights_________
*115 145*2 145*2 14512 +145 140
145*2 145*? ►145 146
145*2 145
115 Chic Title & T ru st..- 100
112*4 112*4 *112 112*4 112*2 113*8 114 116
110 117
116*2 117
681 Common w th -Edison. 100
IjOst Sale 1% Feb’ 10
Do righ ts__
1S»2 1512 *15
16
25 Corn Prod Ref Co com .II
Last Sale 79*4 Apr’ 10
Do
t*o
pref____
83 8312 83*2 831? 83*2 84
847g 85
84
87i2 86
87
1.102 Diamond Match_____ 100
*61*2 62
61*2 0U2 61*2 6 U2 69*4 60
59
59 ♦59
60
420 Illinois Brick________ 100
Last Sale 45
Aug’ 10
Masonic Tempie________
5912 60
60
593., 5934 6912 69*2 *59 60
60
69
444 McUrum-Howcll C o .. 100
69*2
99*2 99^2 9912 99*2 993S 9U3s *98
99*2 *99 100
99
99
Do pref____________
209
Last Sale 2*8 June’07
illlw & Chic Brewing___
*___ 21 *___ 21 *
21 *
21
Last Sale 20
Do pref______________
Nov’09
*10934 111
11012 111*2 11112 111*2 *111 112*2 109 110 *109
111
160 National Biscuit_____ 100
*120 121
121*2 12112 121*2 121R *121 122
121l8 121l8 *120
122
pref_________100
45 Do
*125*2 126 *125*2 120 *126
12434 12434 125
124 124
125
15 National Carbon_____ 100
*118 119*2 119 119*2 119*2 119*2 *119 120 ‘119 120 *119
121
Do
pref_________ 100
I
26
107 107*4 1073s 1077* 107*4 107*2 10712 1075s 10712 10712 1073S 107*2
786 People’s Gas L&Coke.lOO
Last Sale 11-16 Mch’09
Do rights___________
1673., 158
158 158
168 1581? 158 159
1o712 158
168*2 160
1*648 Sears-Roebuck com_100
*117 11812 U812 120
1197s 120
120 120
119 119
120
120
249 Do
pref_________ 100
10138 101% 1013.1 102
10134 1021s 102*8 1023S 102I8 1023S 102*8 10238
936 Swift & Co___________100
___ 175 ___ 175
*___ 175 1*___ 175
Last Sale 172 Sept’ 10
The Quaker Oats C o ..100
Last Sale 634 June’10
Do rights____________
10-1 10-1 *103 104
104 104
104 104 * 103*? 104 *103*2 104io
63
Do
pref_____ ___100
834 8-14
87g 87g
9
838 87g
9*2
9
914
918
9*4 1.494 Unit Box Bd & p C o .100
Last Sale 1734 Apr’OO
Do
pref_________ 100
___ 10
___ 16*
*___ 16 *___ 16
Last Sale'15 June’ 10
Western Stone______ 100
Chicago Bond Record
C H IC A G O ST O C K
E X C H A N G E
Week ending Oct. 7
d
Price
Friday
Oct. 7
Week’s
Range or
Last Sale
Rid
Ask. Low
High
\ ___
9j34 Mein 1
J 193 Sale
93
93
)
Highest
,
Na, roads
Chicago City lty......... 100 185 Mch 7 185 Mch 7
Chicago & Oak P ark.. 100
1*2 J’ly 28
3*2 Jan 20
1° pret .............. 100
4 J’ly 28
7i2Jan 7
AUC Rys part ett ” 1" . . .
6038 Sep .8 109 Jan 3
Ch e Rys part ctf ’ 2 " . . .
i l *4 Sep 13 36 Jan 2
chic Rys part ctf " 3 "
8 Alav26 10 Jan 10
chic Rys part ett " 4 " __
3 Mayi4
9*8 Jaii .
455 Chicago Subway..
100
2*8 J ne29
6i4 Aug 16
10 bans City Ry & Lt._100 £0 Aug 18 39
Jan £
Pref.................too
6J Feb 17 77-h Mch 30
Metropol VV S Kiev. ..1 0 0
16 Jan 14 25 J’ne^l
P re f................ 100 51 Feb
72 J’lie 2i
.Northwestern Kiev. 100
15 Apr
23 J ne24
no prel .................. 100 63 Mayjl 06 J’neiR
77 >outh Side Elevated 100 55*4 JTy
72*2 J ne 22
165 Streets W Stable C L.100
28
54;*s Jail 3
40 Uo pref---------------- 100 407 J’ly
J’ly 26 104 Jan Cl
'
RONDS
Range for Previous Year
(1909)
O'* J'ne30
62i2 J’ly 26
240 Apr 25
1-0 J’ly 19
72 Feb 7
107 Aug
131*4 J’ly 30
J35sJan 10
82 Jan
£50*8 Sep 22
135 Apr 4
84*2 MaylC
112 Jan 11
142l8 Mch
31 J’ne 0 39**4 Jan
60 J'ne 6 74 Jan
47 Aug 11 55 Feb 17
1 Feb 4
1 Feb
3 Sep 23
3 Sep 23
25*2 J’ly 26 41 Feb
110 Alavl 7 137 Jan 3
142 Aug 26
108I2 J ’ly 27
1*4 Jan io
13*2 J’ly 9
7914 Apr 7
82i2 Sep 30
53 J’ly 20
431o Mch 6
40 Mch 17
93 J ’ns 28
Aug 3
J’ly 19
Feb 24
Feb 10
J ’ly 26
163 Mch 10
121*2 Jan 11
2 Jan 13
2234 Jan 8
82 Feb 28
127 fan 0
91 Mch 2s
46 Jan 7
607j May 20
10234 Apr 20
115
125
126
121
Jan 7
Jan 18
Sep 30
Mohju
11534 Jan 3
148 Feb 7
1 16*2 Aug 8
101 Sep 16
155 J ’ly 27
6 J'ne 22
101 J'ly 16
6*4 Apr 28
166*2 Apr 14
12’2 Mch 14
109*8 Jan 8
186 Feb i9
9 Aiay26
106 Jan 0
15*8 Jan 3
15 J ’ne30
227* Apr 1
180 Mch 190 Feh
112 Oct
4 Jan
5 Oct
15 Jan
97's Dec 119*2 J fy
3) Dec
453| Jan
10i2 Dec
30 .nan
8 Dec
13*2 Jan
3*4 Dec
29*4 Jau
30 Dec
52 J ’ly
78 Dec
86*2 May
15*8 Sep
19i2 Dec47 Jan
59 Dec
17 Nov
25 ATay
63 Jan
73 Alay
50 Jan
61 Alay
29*4 Apr
54i Dec
97 Feb 108 Dec
778 Jan
15U Nov
86 J’ne
226*4 Oct
126 Jau 132 J’ly
64** Apr
8 Us Dec
101 Feb 112 Sep
139 Aug 145 Nov
*s J nc
1 Jan
*4 Mav
5 Jan
10 May
40 Dec
48 J’ne
75*2 Dec
61*4 Jan
58 Apr
1 Apr
1 Apr
2*s Apr
2i2 N ov
20 Mch 42 Dec
127 Jan 140 Sep
7134 Jan
£00 Jan
117 Jan
107 Jan
152 Oct
12U2 J’ly
‘ i'7*s Feb
70*4 Mch
117 Jan
38 Jan
43 Jan
8812 May
13034 Aug
S8i« Dec
25's Aug
47 Sep
................. .................
21 j ’ne
9778 Jan 119*4 Sep
118*4 Feb 130 Sep
82 Jail 108i2 Dec
110 Jail 124 Nov
102 Jan 1197* Aug
<2 Feb
1 Mch
65 Jan 169*2 Dec
101 Jan I 2D4 Oct
1001? Jan 114*4 Aug
119 Jan 162 Dec
98*2 Jan
&8 Feb
334 Mch
15 Feb
105 Dec
Da Mch
9i2 Jan
25 Mch
Chicago Banks and Trust Companies
R’ds
Sold
Range
for
Year 1910
Low
High
NAME
Outstand
ing
Slock
T
Surplus
and
Profits
t
Dividend Record
In
1008
In Per
1909 iod.
Last Paid
%
Calumet National____
iluo.ooo
$43,641
G
An
*09, 6
Amer Strawb’d 1st Os.1911
9934 9934 Chicago City__________
500,000
224,197 10
10
j -j luly TO. 6
Armour * Co 4 J.43___ 1939
9034 9412 Contl’ tal & Comm Nat 20,000,000 9,6.'2,31‘.
__
Oct TO,’ 2ij
Aurora Elgin&Chlc 5.1941
Corn Exchange National 3,000,000 5,437,074
12
12
Q-J Oct 10, 4 '
Cal & So Chic Ry Co
Drexel State__________
200,000
22,126
0
9
U-J luly TO. 11*
1st M 5s.................. 1927 F ___
102 J’no’0 )
Drovers’ Dep National.
600,000
399,49(
10
Q-J Oct TO. 21*
Cass Av & F U (St L) 5s T 2 J - 1 ___ ___ 101*4 Oct'09
Englewood
State.
200,000
36,85
0
6
Q-J
Oct TO. 11,
Chic Board of Trade 4sl927 J ___ ___ 100 May’07
First National________ 10,000,000 L0,830.56(
12
12s Q-M
Chicago City Ry 5s__ 1927
1023s Sale 1023S 102*2
1013s 10314 First Nat Englewood__
150,000
192,377 10
10
Q-M SCD 30*10.21*
Chic Consot Hr & Allt 63__
___ ___ 103 Apr’04
Foreman
Bros
B'k’g
Co.
1,000,000
525,372 Prlv ate Ba nk
Chic Consol Trac 4 Hs 1939
___ ___
60 Apr’09
Fort Dearborn National 1,590,000
381,692
8
Q-J Oct TO, 2
8
Cldc Auditorium lstosl929 F ___ —
9634 Jan’OJ
Hibernian B'k’g Ass’ n.
1,500,000
950,439
8
Q-J Oct TO. 2
8
Chic Dock Co 1st 4S..192J A mmmm
Kaspar State Bank___
200,000
141,88) 10
TO 5
10
J-J
Chic Jc UR 1st A1 g 5s. 1945 VI ___ . . . .
U4i£ Dec'09
La Salic St National .
1,000,000
251,586 Beg. b us. Ma y 'lo V.'JO, p.1277
Chic No Shore Elec 63.1912
___ . . . .
87 Feb’00
Live Stock Exch’ge Nat 1,250,000
490,626 10+2
10 Q-M Sep 30*1021?
Chic Rue Tool 1st 5s_al921
85*? 88
85*1 Sep’ 10
8414 8734 Monroe National.
300,000
05.10S
4
4 Q-T
410,1
Chic Ry 5s................... 1927
96*8 Sale
965s
9658
90 1013s Nat Bank of Republic.. 2,000,000 1,214 618
8
8
Q-J Oct ’ll) 2
_ -- ___
Chic Rys 4-5s scries “ A'
88 J’ne'lo
88 951s National City_________ 1,500,009
404,524
3
6
Q-J Sen30 10’ 11*
Chic Rys 4-5s series ” B’
75 ___
77
-51.|
75 86
National Produce____
250,000
83,084 ___
3 Q-J Oct TO, Il2
Chic Rys 4-5s series ’’C’
93*8 901 Mch 10
901? 91
North Avenue State__
200,000
68,756
2H,
Q-J Oct TO, 1*4
Chic Rys coll 6s__ 191.1
97*2 Sale
97*2
97l2
67l4 IODs North Side State Sav’gs
60,000
26,2.59
0
Q-J Oct TO. It.
6
Chic Itys Fund 6 s..1913
97*4 Sep’ iu
9714 98
North West State____
200,000
18,498 __
Q-J Oc:. TO, 1 1
Clilc Itys Tern Ctfs 1st 5s
. . . . ___ 100*8 Ap.-'lO
10018 1003., People’s Stk Yds State.
300,000
105,12u __ ^
Q-J Oct TO,’ 2
___ ___
Chic R 1 & F lilt 4 s..2002
60*2 Allg’08
rPralrie National______
250,000
62,310
Oollat trust g 5s__ 191a
__ _
60*" Juiv-w
Prairie
State______
600.000
80.077
8
6 Q-ii Oct TO, It*
___
1021
,
Chic Telephone 5s____1923
10 *8 102i8
10038
103U
Ra'lway
Exchange____
250,000
23,268
2
None
Jan *08, 2
Commonw-Edison Os.1943 u IUD4 Sale 1011S lul'4
IOOI4 I027r .Security_____________
300,000
186,033
Hi Q-J Oct TO, 112
___ IOOI4 Ailg’ 10
—
Chic Edison deb Cs.1913 J 100*4 IOOI4 South Chicago Savings!
200,000
87,000
0
6
Q-J Oct TO. 2
1st g 6s____July 1926 A 100*4 Sep’ 10
100 100*2 South Side State__ .
200,000
Beg.
b
11,065
Sep t.’O'J V. 89. p. 817
___ lOO&g Ailg*09
Debenture 5s____1920 11 State Bank of Chicago.. 1,500,000 1,742,907 11 us 12
Q-J Oct TO. 3
___ 100*8 Allg’ lO
Cormnonw Elect 5S51043 .1 *
IOO" 10*234 Stock Yards Savings . .
250.U00
186.241
7
8 Q-M Sep30’ 10.2
Illinois Tunnel 5s____1928 I - D —
80 DCC'OS
—
Union Bank of Chicago.
£
00,000
6
47,899
6
M-N day TO, 3
Kan City Ry & Light
Washington Park Nat’ I
100,001
7,814 Sec V. 90, p. 159
Co 6s _____________1913 1 -N
96*4 96*2 9434 July’ 1()
0434 9434
Vendeli otate__ _____
60,000
6,670
6
ftone Q-M Oec31’OS ll«
75
Knlck'b'ker Ice 1st 5s 1928 A - 0
96 Mcn'09
Central Tru?t Co of 111. . 2,000,000
872,807
7
7
Q-J Oct TO, 2
Lake St El— 1st 5s__ 1928 J - , __ _ ___
75 Sep’ 10
75** *85 * Chicago Sav Bk & Tr__ fl500.00U
116,352
6
Q-J Oct TO, 1I2
H
i
Income 5s________ 102. F e b
—
—
16 May'05
Chicago Title & Trust.. 6,000,000 fl ,543,802
6
6
Q-J Oct. TO, 2
Metr \V Side El —
Citizens Trust & Savings
60,000
7,188
4
4 A-O Apr9 TO, 8
1st 4s....................... 1038 F - A 81*2 821., 82
821«
80
84
Jolonla' Trust & Savings
600,000
454,135 8 +2 8 + 2 Q-J Oct TO, 2*2
Extension g 43____ 1938 J - J 76
77
77
77
Cont 6c CommTr <5c Sav. 3,000,000 427,869
76 80
__
1Morris & Co. *: +, . 1039
90“8
- J 18034 sale
9034
88
Drovers'
1
rust&Savings
93U
200,000
115.219
8
71i
Q-J Oct TO, 2
North West El 1st 4s. 1911 I
15‘4
9334 96*4 Farwell Trust C o ..___
U534 90
U6I4
181,929
1,500,000
3
Q-J
Oct. TO. 11.
No W G-L & Coke Co 5s 28 Q - M
99 Apr’ 10
99 99
•Irst Trust & Savings.. 2,500,000 3,113,260
13 Q-M Sep3OT0, 4
Ogden Gas 5s............. 1945 1 - N 93 Sale
923.,
93
92*2 O6 I4 Guarantee Trust & Sav.
200,000
14,619 lncorp orated ;908 V.87 p.1138
Fearsons-Taft 5s_____lu u / - L 98*2 ___ 100'*3 Mch'09
Harris Trust & Savings. 1,250,000 1,466,828
6
9H Q-J Oct * 10. 3
4 .4 0 s............................ VI - S 95
06*2 Mch'10
96*12 *96**2 Illinois Trust & Savings 6,000,000 8,414,42y 16+ 4 16+ 4 4 Oct TO. 4
4.60s Merles E______
A - N 96
97 Foo'lo
97
97
Xenwood Trust & Savgs
200.00U
53,526
6
4.80s Merles F_____
6*4
Q J Oct TO. 1*4
VI - N 97*2 __ _ 98*2 Mcil'lU
9812 98'2 Lake View Trust&Savgs
200,000
43,365
5 Q-J Oct TO, ll£
4'A
PCO Gas L & C 1st 6s l l 943 \ - O . . . I2134 May'09
Merchants’ Loan&TrCo 3,000,000 5,840,079 12
12
Q-J Oct TO. 3 Refunding g 5s____1047 M - M 101*4 101*2 101*4
IOU
4
750,000
lOO-H 103*4 MetropolltanTrust&Sav
221,455
6
6
Q-J
Chic Gas L&O 1st 5s l 937
J ___ ___ 103 July’ lo
103 104I2 Northern Trust Co___ _ 1,500,000 2,327,738
8
8
Q-J Oct TO, 2
Consum Gas 1st 5s_l93c
___ ___ 100*4 SCp’ 10
D
100*4 1021" North- Western Tr&Sav
200,000
64,494
6
6
J-J
TO, 3
Mut'l Fuel Gas Ist5sl047 M - N ___ ion? 10
U? Sep’ 10 .
500,000
101*2 101*2 Pullman Trust & Savgs.
224,584
8
8
Oct to : 2
Q-J
South Side Kiev 4Ks-192i
- J 92 Bale
92
9111
Ul34 94
Sheridan Tr & Sav Bank
15
200.000
z23,lll3 Beg b us. J’ly 12’0 J V.89.P 141
Swift & Co 1st g 5s__ 101 1
• J 1106*8 Bale 10UI8 lOOig
w
Standard
Tr
&
Sav____
100
1007s
1
,
000,000
250.000 Comm enced JUS. Sept 01910
Union 151 U-oop) 5 s.. 1945 A - O __ _ ___
88 Apr’ l j .
88
88
•Stockmen’s 1'rust 6c Sav
200,000
32,7o4
6
6
J-J July TO, 3
Union Paclllc conv 4 s .lo n >\ - N ___
114 Nov'01
Union Trust Co______ 1,200,000 1,190,520
8 t8 + 2 Q-M Sep30T0.2
United Box Board col G?'2o
57
65
70
Apr'10
oWest’n
Trust
6c
Saving;rtj
,
000,000
132,692
6
Oct TO. H .
6
Q-J
General mtgc 6s . ______
J 57
65
65 Juno’ 10 .
West Side Tr&Sav Bank
200.000
107,552
Sep 30T0.2
Western Mtono Co 5s.. 1uos
O ___
July 01 .
Woodlawn Tr&SavBan 1
200.000
63,442
6
6 Q-J July TO. 2
N ote— Accrued ’ntrrest must he added to all85*2
Chicago b 0
prices.
.
.,1 'T l,---- I DOIH. I. (.Close 01 uuamrai ror nations
L im?
^
T ’. l
° DU9, UeC’ 31- b Due J**ne. k AlSO 20% In stock. n
/» oapiuu
DC 1Increased, g Dividends are paid Q-J.
Capital auu
and_ surplus to be
i
ton™ nan'? adcJlll)0Q tll° cqulv;Ucrit of 4% more oama from First Trust & Savings Bank. / July 31 1910. v In addition the equivalent of 1% earn*
to $1,250,000; V. 91, p, 314.
Sco V V l r? * Si 7 ^ July *1 1910 f ° Nat* Uaak an<1 We3tern Trast & 3av- Bauk 10 be merged and c.-plUl of latter to be increased
I
BOSTON STOCK EXCHANGE— Stock Record, Daily, Weekly and Yearly
TM PRICES
SHARE PRICES—NOT PER CENTUM
Saturday
Oct 1
Monday
Oct 3
Tuesday
Oct 4
Wednesday
Oct 5
Thursday
Oct. 6.
Friday
Oct. 7.
Sales
if the
Week
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Range Since Jan. 1
Highest
Range for Previous Yeat
(1009)
Highest
Railroads
98 Jan
Atch Top <5s Santa Re. 100 91% J’ly 26
109% Jan
Do pref_________ 100 97i Aug 2!
225 Jan
Boston & Albany___ 100 218 J’ne 10
124% Jan
Boston Elevated____ 100 nl22 Aug 2
223% Dec
Boston & Lowell____ 100 90J J’ly -3
132% Jan
Boston & Maine____ 100 132 Sep 28
295 Sep
Boston & I’rovfdence. 100 285 Oct 4
11% Jan
14 ,1’nelb
Boston Suburban El Cos.
60% Jan
70 J’ly 2 I
Do prel____________
10 May
8 Alcdl-.1.
Boston & Wore Elec Ccs.
46% Dec
35 Aug 29 48 Jan
Do pref____________
Chic June Hy & USY.1UU 139 Sep 10 150 Jan 19 143 Jau
115 Nov
Do prel_________ 100 199 Oct 3 118 Jan
270 Mch 16 267 Jan
Connecticut ltiver___ 100 265 Men
128% Nov
Eltchburg, prel______ 100 124% Sep 21 133% Jan
/ 5 Jan
117 Oct 5
Ga Ity & Electric____ 100 104 Jan
79 Jan
83 Jan 1<
Do prer_________ 100 85 Apr
195
Oct
201
May3i
202
Eeo
10
Maine Central_______ 100
11% Jan
6,210 -lass Electric Cos____ 100 14% J’ly 26 29% Oct 3
58%
Jan
88
Apr
75
J’ly
1
Do
prel_________
100
666
153 Nov
543 N Y N 11 & Hartford. 100 149 Apr 28* 162% Mch 14 f146
Eeb
Northern N 11_______ 100 139% Meh 11 149% Aug25
Apr
Norwich & Wor pret-100 210 M ayl. 212 Men it 200
190 Dec
1 Uld Colony_________ 100 181% Sep 14 200 Jan 7
26 Apr
35 Jau 3
118 Rutland pref________ 100 25 May
90% Mch
Seattle Electric______ 100 103 AUg 18, n o Jan i
971- Apr
2 Do pref__________100 98% Auv 2 100 Mch
rl72% Eeb
052 Union Pacific_______ 100 158% J’ly 20 204% Jan 3
93% Mch
3
103*8
Jan
8u%
J’ly
20
Do pref__________100
__ Vermont & Mass_____ 100 162 Apr 2z 108 Jan IV 165 Jan
88 Jan
190 (Vest End St_________ 50 83 Sep 26 95% Mch
Do pref___________50 99 J’ly 9 109 Eel) 10 102 Oct
113
Miscellaneous
1,052 Amcr Agricut Chem.,100 36 J’ly 27
200 Do pref__________100 98% Mch3.
4% Aug 2
796 Amer Pneu Service____ 50
Do pref....................50 14 J’ly 15
310
2,289 Amer Sugar Refill____ 100 111 Oct 3
345 Do pref__________ 100 111% Oct 3
3,591 Amer Telcp & Tel e g .. 100 127% J’ly 26
280 American W o o le n ....100 26 j ’ly 7
186 Do prel.................. 100 91 J'ly 1
7 Mch 18
95 Atl Gulf & W 1 S S L-100
147 Do pref__________100 16 May to
41- J’ly 28
___ Boston Land________ 10
Cumb Telep & Teleg.100 138% J’ly 28
7% Apr 14
210 East Boston Land______
211 Edison E'ec Ilium___ 100 7239 Jan 2o
337 General Electric_____ 100 135 J’ly -6
3,538 MassachusettsGasCos 100 76% Eeb 8
Do pref__________ 100 89 May Hi
533
11 Mergcnthaler Lino___100 214% Jan 4
2% Jan ;j
497 Mexican Telephone.. 10
5 N E Cotton Yarn___ 100 107 Sep 22
23 Do pref__________ 100 99% Aug 3
80 N E Telephone______loo 129% Aug U
I’aclllc Coast P ow er..100 94 Men 2ij 100
200
” .....
423 Pullman Co_________ 100 153 J’ne3>,
11% Jau lfl
220 Reece Button-Hole.. 10
100
Jan
2
Swift
&
Co___________100
276
135 Torrlngton___________ 25 28 MchJt
Do pret___________ 25 27 Jan It
*693 United Eruit________ 100 165% Jan 15
2,692 Un Shoe Mach C orp.. 25 46% J’ly •
265 Do pref___________ 25 25% J’ly 9
9,161 U S Steel Corp----------- 100 9138 J’ly 26
345 Do pref__________ 100 lit J’ly 26
14 E'eb 1.
145, West Telep & Tcleg._100
1 Do pref...................100 81 Aug 15
Mining
47* Oct
10% May
4 J’ly 18 10 E'eb
1,588 Adventure Con._____25
8
7
7
7
7
7
7%
6% 6%
*6% 6%
10 Sep 21 1434 Sop 15
1234 123i 131, 3,645 Algomah Mining...........25
12% 12
11% 12% 1134 12% 12
11% 12
6;>
E'eb
L
o
31
J’ly
13
Adouez_______________25
1,507
45
45%
43
441
44%
45
44
44
43
42%
43
42%
% J’ly 12 90%Jan 3
04% 64% 65% 64% 65% 64% 6534 64% 05% 66% 663., 10,042 Amalgamated Copper 100 55
64
27% 271 2,085 Am Zinc Lead & S m .. 25 19% J’ly 26 4u% Jan
27% 26% 271.1 26»s 26% 2634 27
27% 27% 27
320 Anaconda____________25 36 J ly 13 5331 ,)an
___
40% 40% 39% 39%
40% 40%
12 % May 4
60% Jan
17% 17% 1,765 Arizona Commercial. 25
16% 17% 1634 17
17* *17
17
17
'l0% Y f
5 J’11039 12% Jan 14
790 A tla n tic_____________25
7
7
7%
*6
7
67s 67s *6
7
*6
63s 678
,5j Meh 9 .70 Meh 2s
Bonanza
Dev
Co___
10
300
.60
*.50
.60
*.50
.50
.50
.60
*
.50
.60
*
.50
.60
* .50
5 10 May 4 24% Jan 13
14% 143.1 1134 465 Bos&CorbCop&SIlMg
14% *14
14% 141 *14
14
14% 14
14
5% Oct 4 18% MayzS
5%
51.1 825 Butte-Balaklava Cop. 10 15
Ol
5% 5%
5% 53s
53s 5%
5% 5%
>8 J’ne3o 28% Jan 3
Butte
Coalition______15
1934
2,080
19%
19
IO
1
9
1
.1
187S
1834
19
18%
18% 19% 18%
44%
J’ly 12 103 Jan 3
Calumet
&
Arizona..
ID
59% 1,716
5934 59
59% 59% 6034 59
61% 59
59
59
59
085 Jan
50J J’ly
15 Calumet & Ilecin___ 25
550
550
550 550 551 551
550 550 550 550
*550
131
J’ly 15 38 Jan
Centennial____________25
565
20
20
191
191
19
19
18
18% 18
17% T7% 18
.16 Jan 19
04
J’ly
6
Cons Mercur Gold___
1
Lost Sale .10 Aug’ 10
* .06 .13 * .06 .13 * .06 .10 * .06 .10
1*282 Copper Range Con Co 100 58 Ecu 17 85 Jan 3
67% 07% 6734 673, 68
663j 67% 67
65% 66
66% 68
3%
Sep
2
b
9 58Mch 28
Daly-West____________20
478
230
434
434
47s
4
%
4%
4%
47,s 4%
4
*3% 4%
1334 Jan ’
0% J’ly 13
1,895 East Butte Cop MI11. . 10
738
7U 7%
73g 73s
6% 6%
7% 7%
7%
2% Eeb lb
200 Elm River____________12 .15 Oct 7
.15
.15
.20
.20'
*___ .15
.20
.20
9 % J neao
22% Mch
12 * i r 11% 11% 1178 1,807 Eranklln................... 25
11% ' 111*2 12
11
* 10% 11
6 J’ly 20 12% Jan 10
738 5,750 Giroux Consolidated. 5
71,i
7%
7% 7%
7%
7%
6% 7
111% Jan ‘
2,408 Granby Consolidated. 100 20 J’ly
26_
27
28
25
31
34% 31% 34% 28
33
33
33
6% Sep 29 IDs Jan
678
6% 7
612 67s
7% 2,862 Greene Cananea____ 20
6-% 63.,
6% 634
6% 6%
% J iy 19, 30 Jan 12
221
23 2.545 Hancock Consolidated 25 14
19% 20% 2034 21% 21% 21% 21% 2134 2134 22
2 J’noiz
678 Jan
80 Helvetia Copper_____25
2%
2%
2%
2% *2
2% *2
2% 2% *2
2% 2%
J’ ly 18 4434 Mch
16% 15% 163.4 15% 16<8 101., 17 6,565 Indiana Mining_______ 25 10
15
14% 14% 14% 15
22% Apr
I3t2 May
28% Jan
23% 5,577 Isle Royale Copper.. 25
23% 224 23% 223., 23% 23
21% 21% 2238
21
7% Apr
63,
63.t
483 Kerr Lake__________ 5 xO Sep 1 11 Jan
6% 65s
6% 0%
63S 6% *6% 6»s
6% 6%
0*4
Jan
14
2% Mav
3
J
’
l
y
Keweenaw
Copper__
25
270
4
4
37s 373
3% 3%
3% 334
*3% 3%
*3% 4
16 ” Jan
94% Jan 22
28% J ’ l y 15
35% 37% 35% 36% 34% 37% 5,389 Lake Copper Co____ 25
37
35% 353.1 35% 3634 36
19 Jan 14
10% J’iy
9 J’ly 23
La
Salle
Copper------25
1034
870
103
.1
10%
10%
10%
1034
10%
10% 10%
10
*9% 10
4% Mch
87s Jan 22
4% Men
938 4,650 Mass Consol__________ 25
9
8
8%
8% 9
8% *7% 8%
8
7% 8
1% Jan 13 .30 Apr
Maytlower __________ 25 .40 AugJo
Sept’ 10
Last Sale
* .35 .40 * .35 .40 * .35 .40 ** .35 .45 ___________
3% Apr
5
Jan
.3
0
J
’
l
y
i
y
Mexico
Cons
M
&
S
..
10
"5
6
.45
.45
*.35
.35
.35
* .40 .45 * .40 .45 * . . .45
1234 Eeb
Jan
19% 1934 193s 193,8 193.1 1973 1,199 Miami Copper_______ 5 17 J ly 18 29
19% 19% 19% 20% 19% 20
534 Oct
8% Jan 21
Michigan------------------25
37s
J’ly
1
*
41
*43_i
*43.1
5
90
5
453
*4% 5
4% 5
4%
Jan
x57% J ly
49
92 Mohawk______________ 25 43 J’ly 20 75
*49
49% 49% 50
48
48% 48%» 49
49
47
48
271
Jan
1
1
16%
E'eb
1 7 % J ’l y
20% 19% 20% 20% 20% 4,090 Nevada Consolidated.
20
20% 19% 201
19-% 20% 20
19% Jan 12
3% Nov
3 % J’ly i 8
538 *5
5
538 1.545 New Arcadian Copper 25
5%
*434 5
5
5%
5% 53s
U
7
8
Oct
12
May
26
934
Jan
17
Nl
pissing
Mines_____
5
1034
103,
1,295
10%
10%
103.8
10%
103s 1034 10% 1034 10% 10% 29%
50 Jan
47 Dec
303.1 2934 3H,
30% 315S 26,783 North Butte_________ 15 18 J ’nooU 257s
28% 28
29
28
28% 29%
Mch
4% Mch
6% J’lV 13
1,810 North Lake__________ 25
834
83.1 9
834 9
9
834 9
8% 8%
8% 878
1234
Jan
14
534 Nov
5
Sep
"
634
OJIbway
Mining_____25
715
8
*617
6%
7%
*6% 7
6% c6% 7
*6
.40 Jne
1% Feb ‘
210 Old Colony__________ 25 .25 AUg
.25
.25 .25
.25
* .25 .50 * .25 .50 * .25 .50 * .25 .50
47% Eeb
29% Jn e 15 55 Jan
Old
Dominion
Co___
25
1,346
401
40
39%
39%
391
.1
38
38
37%
38
37%
37%
*37
122 E’eb
131
60 Osceola____________ 25 114 J’ly 27 166 Jan
129% 129% 128
127 127 *125 131
125 125
125 125
2134 Jan
19 Dec
13
123 Harrot Silver & Cop. 10 12 J’ly
13
13
>12
13
13 *12
13
* 12% 13
13
13
83 Dec
92 Mch
63
J’ly
O
u
ln
cy..___________
25
74
74
59
*72
75
73
72
74
74
74
74
74
73
2434
Mch
16
%
J’ly
1
19
19%
193g
4,690
Ray
Consol
C
opper..
10
19
1834 19
19% 187s 19%
19
19% 19
234 Jau
i% Nov
2% Jan
13S Sen 29
134
Cop. 10
50 Santa Ee Gold
1% 1% *13S 134 *13,8 13.1 *138
*1% 1% *13S 1%
13% E’eb
18 Jan
17% Jan
8% J’ly '
10% 10% 10% 10% 1034 2,889 Shannon_____________ 10
10% 10
1038 10
10
10% 10
3%
Jan
19
1
%
J
’
u
e
3
0
2
120 South Utah M & S__ 5
*173 2
*17,8 2%
2
2
1% 1%
34 Jan
62% 3,245 Superior______________25 36 J’ly 19 08% Jan U
50
50% 51% 50% 51?8 50»4 51% 50% 51% ’ 52"
51
13% Nov
738 J’ly H 18 Jan 12
8%
8% 1.270 Superior* Boston Min 10
83s
8% 8%
8
*734 8
8
8
7% 7%
127g Apr
10%
Jan
lu
J’ly
'
9
Supenor&Pitts
Copp.
10
13
14 6,297
12% 12% 123.1 12% 13
11% 11% 11
1178 12
78 Jan
62 J iy
59
59
60
258 Lama rack____________25 4 5 % J ’ n e 27
*59
59
60
60
601 59
60
60
60
113g
Jan
9% Dec
4
%
J’ly
18
trinity_____________
25
534
6
*5
933
5
3
.1
5
3
.1
6
5% 6
5% 5%
6
6%
41% Oct
28 Jan
40 3,662 UnltedStatesCoal&Oll 25 33 M c h ‘
40
40% 41% 39
403s 411
40% 383.1 3934 3934 40
56 Jan
39 Feb
3 3 % J ’ l y 20
40 2,531 U S Smelt Ref & Min.
40
39-% 40
39% 40 239% 40% 39% 40
395s 40
44 jan
58% Jan
4534 J ’ l y 20
Do pref_________
591
483, 4834 4834 49
48% 49
49% 24838 49
49
48% 49
4 Oct
6% Jan
2 % J i y 22
3%
3%
665 Utah-Apex Mining__
33s 33g
*314 33s *3% 33g.
3% 31.1 *3% 338
37% E'eb
18>2 j ’ne30 46 Jan
2234 2234 22% 23
2234 231 23% 24
23% 2334 23% 23% 1,208 Utah Consolidated__
60%
Jan
3934
E’eb
639%
j
’
1
1
0
30
4934
Utah
Copper
Co_____
367
49%
4S34
493s
49
47% 48% 47%
47% 47%
534 Jan 14
3 Oct
2 % J ’ l y 22
90 Victoria ______. . . . . 26
*21o 3
3
2% 2%
23,3 25s *2% 3
3
43, Apr
16
Jan
H
5
J ’ l y 13
W
inona____________
2
83S
8i
S
3
.
1,700
834
*8
8%
8%
734
8»s
7%
7%
7%
139 Mch
.60 Jan
10 2
J ’l y i
125
129
132 Wolverine__________ 25
120 120
121 126
115 115 *117 120
115 115
2 Oct
3% Jan 14
1 % J ’ l y 26
W ya n d ot__________ 2
Last Sale 1% Sept’10
♦1% 17S *1% 1*3 *1% 1% *1% 134
E
x-dlv.
and rights.
mu and asuou prices, a New stoeg. a Ass t paid, o E x-stoca div. n Ex riguts.
« liMere p a y t ut a is ii- ts oulleu m l JJJ.
100% 100% 101 101
101% 101% 101 101 *100% 10034 *100% 10034
100%
*9934 10034 *100
*100% 101% *100% 101% *100% 101% 100 101
220
220
220 220
220 220
218% 218% 219 219% 220 220
128*4
12834 12S34 12834 129% 128
♦129 129% 129% 129% 12834 129
___
210 210 *208%
*208%___ *210 ____ *210 ___ ___
135
135
134 134
134 134 *__ 134
*133
134 134
__
_
___
*285
292
____
♦__ 288 *
*285%
285
285
288
Sep’ 10
Last Sale 15
*13% 15% *13% 15% *13% 15% *13% 15%
Last Sate 72 Sep’ 10
74
*70
74 *70
74 *70
74
*70
10%
*10 ___ *10 ____ *___ 10% *___
10% 10% *10
Last Sale 35% Sep’10
*36 ___ *36 ____
*35
*36
145
*143 ___ 145
*112 ___ *143 —
*142
*142
*109 112
—
—
110 110
*109 —
109 109
Last Sale 270 Mch’ 10
126% 128
125% 12534 *12534 128 *1253.i 128
125% 1251- *1253.|
*110%
> 117 *115
117
116%
117
*
116 116%
117
*115 117
Last Sale 86% Sep’10
*809>
*87 ___ *87 9 O
*87
Last Sale 204 May’ 10
+205
1934 1978 19% 19%
20% 1978 20% 19% 20
1938 20% 20
833.! 84
84% 83%
84% 84% 8434 84
84
154 154% 154
154115378 153<s 154 154
153% 153% 153% 154
Last Sale 140 Sep’ id
Last Sale 210 Jun’10
182 182 *182
190
*182 ----- *182 188
*182
*182
28
28% *27
27
27
27% 27% *27
27
*27%
27
Last Sale 103 Aug’ 10
*103 ----- *10312 —
*103
*103
—
*102
103%
*102
103
99
*9934
----99
*9911663.1 107% *167% 16734
168 1683S 1607# 168
1679. 1671- 1681s 169
*907^ 917S *91% 92% *917S 92% *913.1 9234 Last Sale 91*s Scp’ lO
Last Sale 103 Jun’ 10
*150 160
84% 84% 84% 84% 84% 84% 84*4
84
84% 84% *81
84
101% 101% 101% 101% 101 101% 101 101 *101 ___ ..................
46
463S 46%
44% 44% 4434 45
44% 44% 44% 44% *43
102 102% 101% 101%
103 102
101% 101% *101 102 *1013.1 102
4% 4%
5%
5*8
47$
5
5
5%
4%
4%
4% 4%
153.1 16
1573 16 *15% 16
15
16 *1534 16
15
15
116 116 *116% 117
111 116% 11553 117% 1157s 116
11312 114
115
115%
115 116
115 115
115 115
111% 115
113 114
138 138% 137% 138% 137% 138 1373s 138% 137% 1373.1 137% 138
*29% 30%
31
27% 27% 28>.| 28% *29% 30 *29% 30 *30
95
95% 95
95% 95% 95% 95
94% 94% 941 95% 95
10
*9
10
10
10% *9
9 . 9
* 8 % ___
19 *19
19
19
19
1934
19
19
July’ 10
*5
Last Sale 5
*4% 6
*4% 6
*4% 6
Last Sale 143 Sep’ 10
*143 150 *143 “ 150 *143 150 *144 150
8% 81
*8% 834
8%
8%
*8
9
*8% 9
*8% 9
263 267
267% 209
268 268
261 261
2581.1 158% 258 258
152
1523s146% 1483s 1177s 148% 150 152
145 145%
S3
833.! 83% 83% 8334 85%
8334 84
83
83% '83% 84
9233 92% 92% 92%
92% 921
921
92
92% 92% 92% 92
220 220 " 220 220 *___ 220
220 220
*___ 220
*218 221
534
*5%
6
*5% 6
538
*5% (j
*5%
6
*5% 6
107
*106%___ *107 . . . *107 . . . *107 . . . . *107 ___ 107
108
109 109 *108 110 108
*107 . . .
109 109 *107 109
135
131% 131% 131 131% 131% 131%.*132
*130 131 *131 . . .
Lust <Saf«i95
Aug‘ 10
94
*92
*92
96
*92 ___ *92
96
102% 16234
163 163% 162% 163
163% 164
163% 164
163 164
*13 . . . .
14
14
13% 13% *12% 133.1 * 13% 13% 13% 13%
101 101% 101% 101% 102 102% 102 102% 102% 102% 102% 102%
*30% 31% *30% 31% *30% 31 *30% 31
*30% 31
31
31
Sep’ 10
Last Sale 30
29
*
29 •___ 29 '___ 29 *
197
197
197" 197% 197 198
197 198
196% 198
197 198
57
57% 57
57
5734 58% 57 i4 58
57% 58% 58
581
28
28 *27% 28
28
28
2734 28
28
28
28
28
68% 69% 69% 703s 09% 70% 69% 703s 68% 69*4 09% 70%
118%
116% 116% 117 117% 117% 11734 117% 118% 11734 117% 118
18% 19 *18% 19% *18% 19 *18% 19
19% 19% 19% 191
90
*88
90
*88
90
90
*88
*88
90 * ___ 90
90
23
14
204
150
15
46
18
___
___
65
___
5
32
__
95
40
__
935
Boston Bond Record
O c t . 8 1 0 1 0 .]
^|
ituiM ia
noO
BOSTON STOCK KXCH'GE
Friday
W kkk endinu Oct 7
Oct 7
Week’ s
|'22|| Range
Range or 1o-S II Since
rJanuary 1
Last Sale
BUN IIS
BOSTON STOCK EXCH’ GE
W eek Endinu Oct 7
1. ange
Week’ s
Since
Range or
Last Rale 0 3 January J
Fries
Friday
Oct ?
So J,ow High'
Ria
Ask Low
High. .Vo Low High
Illinois Steel deben 5s. . . . 1913!A-0 100 Salt 100
109
6 99*2 101
91*4 27a| 89
93*4 la Falls&Sioux Cist 7s..1917 A-O
117 Apr’08
103V 32 99 *2 loo j Kan C Clin & Snr 1st 5a. ..1925 A O
93*s filar’ 10 . . . l 93*« 9 7
87‘4 87 V K a n cF t s<fcGull ext 5s.. 19ID J-D
9934 Feb TO . . . . ' ! 9 9 34 9*J34
Kan C Ft Scott & M Os. ...1928 M-N 116*4...... 117 Sep To ___! 1 1 3 1 1 8
97 112
Am Zinc D & S deb Os.... 1915 M-N 111 113 111’a illH i 1
90
93 HiI Kan C M <& B gen 4s......... 1934 M- S
Ariz Com Coy lstconvGs 1920 J-D 91 Sale 90
01 !
92H) Aug’ lo ,...'| '.'2*2 93*2
98 101 S8 ' Assented income 5s...... 1934 M- 8
Aten Top ifc S Fe gong 4s.. 1995 A-O 99*2 100*2 99 *4 ScpT0
92
91 Sep TO. ... 91
Kan C & fil By & Br 1st 5al929 A-O ib a " ib T 102's Sep Tol ... 102 103
94 92 H,
92 *»
Adjustment, g 4s__ J’ly 1995 Nov 92
8SHi 94
92*2 94 \ I filaino Cent cons 1st 7s... 1912 A-O
Stamped..” ......... J ’ly 1995 M-N 92
94 92 Hi Sep TO
113*8 Nov’Odl
Cons 1st 4 s .....................1912 A-O
U)2 *-j 10 2 S.
50-year conv 4a......... 1955' J-D ..................... 102 HiJ’ly ’ 10.
101*4 Sep Mo!
10-year conv 5s......... 1917! J-D ..................... 117 *2 Feb TO ...-■117*2 117*2 Maro Hough Ss Out 1st Os. 1925 A-O
115 J’lie’OSI
73
MassOas4*2S..............
1929 j ,T 98*4 Sait 98
3 | 03
Atl Gttlf& W ISS lanes58.’ o9| j -J
0734 68*4 07
07
93*81 29; 97 9934
i\l toll Teleplst 5s___....„ 'l9 1 7 J- J
Boston Elect 1, consoi 68.1924 M-S ................... 110 Feb’04
97 Aug’ lU ... 97 99*i
filiune Ueu Elec coil g 5s 1929 j j . j
Boston & Dowell 4 a......... 1910 J - J ...................!100'4 Mar’09
102*2 Ang'041 ...I!............ .
New Eug Cot Yarn
„ „ __ r1929 F-A
trn 5s_
Boston <s Maine4Hja........1944 J-J
J-J ....................101T Uel ’0 8 ---- 1
1 0 l a4 Sep TO! ...' 1U0'4 105
New Eng Teleph os......... 1915 A-O
Boston Terminal 1st 3Hia.l947 F-A ................... 112*2 Jan’03
103 Feb’09 ,
.................................... 1910 A-O
100*2 sep ’08'.
Bur <&Alo Riv cons O s_1918 J-J
J-J ..................... 103 Feb’ lOi ..j 103 103
New England cons g 5s... 1945 J-J
Butte <fc Boston 1st Os__1917 A-O
A-0 ..................... 100 J’no’Ol
ir
Boston Term 1st 4s...... 1939 A-O
Butto EleCkfisPow Istg5s.l951 J-14
New River (The) conv Os. 1934 J-J
U3Hi 114
75 Sale 70
113*2 -May’ 10
Cedar Bap Jb Mo It 1st 7s.1910 M-N
2 75
79*2
N Y N H & H con deb 3 *281950 J-J
85
88
99 Sep TO .. 90 7e 102
87 H,Sep’ 101
Cent Vermi 1st g4s..filayl92U Ij-F 87 *2
Conv deb Os (c t ls )........1943 J.J ibT* i*3*d" 134*2 Sep TO, .. 131 135
11103 Got ’ 07
C B <fe w Iowa Div 1st 58.1919 A-O
101 A pr’OU1
98*2 98 Hi Old Colony gold 4 s ............19*24 F-A
98*2 J’ne’ 10
Iowa Div 1st 4 s ............1919 A-O
101 >2 10134 Oreg lty & Nav con g 4s.. 1940 J-D
101:*4 Alar’ 10
9878 Sep ’09!
Debenture 5s................ 1913 M-N
Oreg Sli Line 1st g Os...... 1922 F-A
100 I
99*8 109
113 7a Aug’ io! . . . 1 1 3 76 1 1 0 3*
Denver lixteu 4s.......... 1922 F-A U9'4 100 100
99
99*8 Pero Marquette deb g Os.. 1912 J.J
99 Mar’ 10
99 Mar’ 10 .... 93*2 99
Nebraska Ex ten 4 s ...... 1927 M-N
ltepub Valley 1st s t Os... 1919 J.J 102*8
99 Oct ’09
103 *6 Sep TO’ ... 103*8 103*8
B & S W s t 4s...............1921 M-S
877s Sep ’10 ..‘I 8 li:*8 83;*b Rutland 1st con gen 4 Has. 1941 J.J
Illinois Div 3 *28............1949 J-J
107*2 Nov’ 05
Rutland-Canadran 1st 4sl949 J.J
101*4 2 100 10l34
102 Mat’02
Ohio j o By & Stk Vila Os .1915 J-J 101 Sale 101
927s Savannah Elee 1st cons 5s. 1952 J.J
90*4 Aug’ 10 ..'! 89
Coll trust relunding g isl940 A-O
78*2 Apr’ l Jl ... 78*2 78*2
■115*2 Jau’ 10 ..115*2 115*2 Seattle Elec 1st g 5s........1930 F-A 103 Hi 105 103*2 Sep TO ... 103 104*4
Ch Mil & St P Dub D Os.. 1920 J-J
Shannon.Am 1st g Os__ 1919 M-N 90 sale 95
120 Feb’05
14 88 110
Oh M & St P Wls V div 081920 J-J
90
99 May* 10 ..'I 99 100*2 Terre Haute Elec g os__ 1929 J -J
97 Apr’07
Chic <te No filicu 1st gu 5s. i93l M-N 90*2 100
Torrington 1 st g 6 s......... 1918 M-S
0 100 104
101
1003, ila r'to .... 100>4 lUO3*
Ohio & W filloli gen 6s .... 1921 J D 100*2 101*2 101
Uniou Pao RR<fclgrg4s.l947 J-J
91 Dee’07
Concord «& Mont eons 4s..1920 J-D
101*8 101 *8 8 99 7s 101 *8
20-year conv 4s...............1927 J-J
112*4 Jan ’ 03
Conn ife Pass B 1st g 4a... 1943 A-O
1U8 ’*8 Apr TO __ lU8 **s 1091*8
United Fruit gen s £ 4 Hi8.1923 J-J
io o >4 Aug’oo
Cudahy PacK(The)lst g 5s 1924 M-N
97 *4 sale 9(3 _
97*4 9 95*4 97*4
U S Coal & Oil 1st s f Os.. 1938 M-N 155 101 155*2 106
99 Anr’ io
99
99
Current itivor 1st &s....... 1920A-O
32 145 100
U S Steel Corp 10-00 yr os. 1903 M-N
89
90
Dot Ur Bap & W 1st 4s... 1940 A-O, 38*2 .
89 Mar’ 10
104
104
5 101*2 105*2
Dominion Coal 1st s I 6s..l940,M-Nj 98
90*2 9834 West End Street Ry 4s__ 1916 F-A
: 97
98*4
93*2 90 HiJ’uo’ 10
93*4 J’ly to
Gold 4 Hi3......................... 1914 M-S
Fit-on burg 4 s................... 1915’M-S
103 *8Apr’061
10134 J’ ne’09
Gola
deoenturo
4s.........
1910
M-N
4 s .................................. 1927 M-S |
90 Apr’08
98*2 Apr TO ,..I | 9 8 T 9 9 * 8
Gold 4s............................ 19-17 F-A
FremtElk & file V 1st 0s..1933!A-O
97
99
133 Mar’09
97 Aug’ 10
Unstampeu 1st Os.........1933 A-O ...................!140 Apr’0 5 ___ 11.................. Western Teleph & Tel 5s. 1932 J.J
95 34 Salt. 9634
aO
9 l'4 T 9 9
Gt Nor U B «fc CJ coll tr 4s 1921 J •J U0‘4 90*a 90Hi
9034 20iU4*a 97 ** Wisconsin Cent 1st gen 4sl949 J-J
94**8 Jan To . . . 94**8 94**8
Regi3 tered 4 s................ 192l|Q-J| 90 .........| 94°a Aug'10 ... . j l74Hi 00*2
I IRta
Ask Low
Am Agrloul Chera 1st 5s..1928 A-O 102*4 ?al6 llO l^
Am Telep ite Toi coll tr 4S.1929 J - J j 91'4 Sale ! 91
Convertible 4s................1936M-s! 10234 103*4 103
High
102*4 24 100'4 103
N ote—Buyer pays aoorued Interest In addition to the purchase prloo for all Boston Bonds. * No prico Friday; latest bid and asked.
1, Flat price.
Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Yearly
share Prices—Not Per Centum Prices
Saturday
Oct 1
Monday
Oct 3
Tuesday
Oct 1
Wednesday
Oct 5
89
81)
126 126*0 125 1*25 *. 126 k
*19
20 *........
20
*19
*
*38
14*4
•14as *14«(. 14*2 1'1°8 *14*4
124
126
19
*18
43*i
42 ^ 42 ^ 42*o
*11
1134 *11*8
48^ 48*2 48*s
2^*4 2834
28
75
75*4 76 *4
7*2
24*2 24*8
24
•9134 93*2 •92*4
81
89 7» 81*4
64 7&
047s 05
44
14*4 44*2
167s
157b 10
18 7s 1878 19
737nj 73*2 73 *8
*8
8*2 86lfl
4334 43 7» 43j4
82 *i 82*2 82's
19
20
•18
20
‘ 18
43*4 *....... 43*4 43
42*8
4‘Ja4 4234 43
l l a4 llHa 11 *2 11*2
48*2 48*2 48*2 48*2
2b34 2834 29
28*2
7434 75
?434
8*4
24
24
24t>8 24
*92
94
94
*92*4
81*4 81*4 8178 80*4
65*4 05
05 *4 04*116
45**8 46*8 45'*& 45 *4
16
1578 15 7S 15”4
19*4 19*4 207h 19 4
74 ‘4 7334 743io 73
8*o *8
8 Si
fc°10
44
44
40*4 43-*4
8238 82*s 82H. 82 Hi
P H ILAD EL PH IA
inactive StocUs
imai Asbestos Corp. 100
P reien ed ................100
kmeiicau .Milling...... 10
Amor Pipe fil£g........100
doll Telephone (Pa). 100
Jambria Iron.............. 60
Jentnil Coal & Coke. 100
JonsolTrace! N J...100
Easton Con Electric 6.50
Ft Wayne&W V...... 100
lermauiown Pass...... 60
[ndiauapolis St......... 100
Indiana Union T r__ 100
Insurance Co ot N A .. 10
[liter Sm l’ow & Chein.60
Keystone Telephone ..50
Preferred................. 00
1Coy stone Wat eliCaso. 100
Lcli Vail Tran v t c...5 0
Breferred v t c ......... 00
bit Brothers................ Hi
Uttlo Schuylkill......... 50
klineblll <&Scliuyl H..50
N Haven iron & steel.5
Northern Central........50
North Pennsylvania..50
Pemisyl Rlt receipts__
Pennsylvania sail...... 50
Pennsylvania aieel.,100
Proterred................ 100
Pliila Co (Pitts) m et. ..60
Phil German* Norris.50
Phila Traction.............50
Railways General...... 10
lusquen Iron. & Steol..6
Fidewater Steel......... 10
Preferred..................10
Union Tr ol Ind........100
United N J RR & C.. 100
Unit Trac Pitts p rel..60
Warwick Iron * Steel. 10
Welsbach Co.............. 100
West Jersey & SeaSh.50
Westmoreland Coal....50
Wilkes G a s * E lec..100
Bid
Ask
*19
20
*13
20
43
43
43
43
42
4234 42
417s
11*2 •U s8 l i 34 •11*2
4bJ4 48*2 48*2 *48
29
28*2 23Hi 29
75*4 474*4 75*4 74Hi
*8
24
24
24*4 24
•92*2 bo
•92*2
94
Hl34 80*2 8 L*8 79*4
06
05 *s 0134 05
40*4 40*4 +4o34
40*4
15 78 1534 1534 15 «8
21
18*2 19vh 18 Hi
71*8 73 73i*io 73 J-i
8*8
8*4 8'*8
4534 41*2 437s 41‘a
82Hi 82*a 821*8! 32 *s
P H ILA D E LPH IA
11E x-ri;hts.
Range Since
Jan 1
Lowest
||$15 paid.
Philadelphia
25 American Cement........ 50 17*2 Sep 19
20
43
53 American Railways.... 6U 4134 J’ly 21
42 *4 1,398 Cambria Steel.............. 50 40*4 J’ly 20
2b Electric Co of America 10 11*4 j ’ly 29
11*4
924 Elec Storage Battery.. 100 42 J’neJy
49
1,157 Gen Asphalt tr c tls __ 10U 19*4 J’ly 26
29
Do pref tr c tfs__ 100 04 J’ly 20
74*2 1,121
43 i Keystone Telephone... 50 7 J ’ly 0
3,03 J Lake Superior Corp__ 10U 15*2 J’nelo
24
....... Lehigh 0 & Nav tr ctfs. 50 80 J’ne3u
94
81 12,355 Lehigh Valley.............. 50 02 HaJ’ly 27
05*4 2,928 Pennsylvania RR........ 60 81llia J’ly 20
2.022 Pluladelp’a‘Jo(PittsbL 50 42 J’ne3u
40
16 7h 2,924 Philadelphia El6Ctric[|. 25 t l3 78 ten 3
19*4 42,538 Phila Rapid Transit... 50 15 Apr 28
73uio 10,73s Beading....................... 5u 05 Hi J’ly2t>
975 Tonopah Alining ........ 1 0 Hi Jan 242*2 19,774 Umoii Traction........... 50 41*8 J’Jy20
823s 1,447 United Gas Impt.......... 50 79 J ’ly 2o
I llid I Ask,
83
83 *4
........ 90
115
103 I......
100 *2 '.......
88
88*8
50
100**4
109
118
110*2
9078 9 ? *4
ib i"
100
99
ioT *2
1 0 2 * 4 i o 2 34
90
...........
101**4 10 V7g
70
70*4
1U7**4
100**4
t $ 1 2 *4 pald.
P H IL A D E L P H IA
Ph & Read 2d 6 s '33. A-O
Con M 7s 1911...... J-D
Ex Imp fil 4s g ’47.A O
Terminal 5s g 1941.0-F
P W * B col tr 4s ’21.J-J
Portland Ry 1st 6s 1930.
Roch R y* Leon 6s’54J-J
Spanish-Am Ir Os ’27 J-J
U Trac Ind gen 5sT9.J-J
Un Rys Tr oils 4s’49J*J
United Rys lnv 1st coll tr
s f 5s 1920.............. M-N
U Trac Pit geu 5a ’ 97 J-J
Welsbach s f 5s 1930.J-D
W lks-B 0 *E cou 5 s’55J-J
BALTLUOKE
lnuctive stock s
Ala Cons Coal* lion. 100
P ret......................... 100
Atlanta* Charlotte.. 100
Atlan Coast L (Copn)lO(l
Canton Co................. 100
Cons Cot Duck Corp...50
Preterred................. 50
Georgia S o u * Fla... 100
1st pref................... 100
2d pref.................... 100
G-B-S Brewing......... 100
Bonds
Frices are all “ and
interest.”
Anacostia & Pot os.........
Atl Coast L(Ct)ctfs OaJ-D
Ctfs of indebt is....J -J
6-20 yr 4s 1925........J-J
BaltCPass ls t o s ’ l l M-N
Balt Fundg 58.1910 M-N
Exchange 3 H»s 1930 J-J
Balt & P 1st 6s m 1T 1 A-O
B S P * C 1st 4.His ’53F-A
Balt T raolat5s..’29 M-N
No Balt Div 5s 1942 J-D
Cent’l Ry conosl932 M-N
E x t* Imp 5s.1932 M S
Clras City Ry 1st 5s’23 J-J
CUas Ry G * El 5s ’99. M-S
l$l3H apald.
$$35 paid,
Range tor Freviout
Year(19U9)
Highest
00
00
90
♦89
120 120*2
•19
20
Seaboard (new)............ 100 J8°i J’ly 29
*39
40
Do 2'd pref...........100 41 J’ly 27
14:*8 14*2 1434 15*4 1,400 United Ry & Electric.. 00 12*8 A1ay 3 l5Hs J’ly 15
105 k *125
20
40
14*4
ACTIVE STOCKS
Week |(t o r Bonds and Inactive
stoefes see beiow)
Shares 1
Baltimore
200 Con. Gas EL L. & Pow.100 40 Alar21 00 filay23
XO Marl 1 90 J’ ly 14
Bonds
Frices are all and
interest.”
Alt &L7V Eleo 1 *28’ 33 .F-A
Am Gas & Eloc 5s’07. F-A
AmRysconvOs 1911.J-D!
118
■45 " 40Hi Atl City 1st os g ’lO.Al-N
Berg* EBrw 1st Os’21 J-J
Bethie Steel Os* 1998.<4 -F
C hoc* Alo 1st 5s 1949 J-J
C liU k * G g e n 5sT9 J-J
Col St Ry 1st con 5s 1932
ConTraootNJ 1st 5s.’33
E * A 1st fil 5s 1920 M-N
Elec * Poo Tr stk tr otfs
19b4 20
Eq II Gas-L 1st g 5s 1928
8 "8*2 Iudianapolis Ry 4s. 1933
Interstate 4s 1943 ..F-A
Lehigh Nav 4*2S T4.Q-J
RRs 4s g ...... 1914.<4-F
5
Gen fil 4*28 g.l924.i$-F
16 ^ 10
Loll V C 1st 5s g ’33..J-J
Loll V ext 4s 1st 1948. J-D
2d 7s 1910.............. M-S
”oT .......
Consol Os 1923...... J-D
Annuity Os.............J-D
120
Gen cons 4s 2003.M-N
98
Leli V Tran con 4s’35J-D
1st series B Os 1930.AI-S
100
New Con Gas 6s 1948 J -D
109
Newark Pass con os 1930
42
N Y Ph & No 1st 4s ’39 J-J
43
income 4s 1939...Al-N
N oOliioTrac conas’ PJ.J-J
82Hi 83
Ponu Cons 5s 1919 .. Var
Penn * Aid Steel con Os.
Pa * N Y Can 5s ’39. A O
Con 4s 1939........... A-O
’ ifo”
Pen u Steel ls t5 s ’ 17 fil-N
People’s Tr tr certs 4s ’43
PCo 1st* eoltros’49 M-S
* 1034 "Vi *2 Con* col tr 5s 1951A1-N
35
37
Plul Elec gold trust ctfs.
Trust certlfs 4 s............
62*4
94
P * E geu M 6 g '20. A-O
Geu M 4s g 1920..A * 0
•Bid and asked; no sales on this day.
Sates
Friday
Oct 7
Thursday
Oct 0
28 Jan 3
60 Jan 0
53 k Jan In
12*2 Jan 14
04*4 Marll
34*8 Jan 29
84*4 Jan 10
13 oan lb]
28 Jmi 3
123 Jan 7
121*4 Marla
Gil310 filar 9
53*4 Jan 8
10*4 Alar 18
28*2 Jan 3
SO Feb la
91i0filuyi3
J w^.j JH11 3
95*8 Jan 10
Highest
Lowest
30
1
filar 48
Feb
Deo
1‘21 ^ Dec
Fob
48 Deo
14 >2Dec
25 Dec
4 4n8 J’ly
32 78 Feb
x i 0 7s Jan
43 Jan
15 HiJan
63 lan
9 *2 Jan
14*4 Jan
90 Jan
0 1 Feb
03** Feb
40*2 Fob
11 *4 Fob
247s Jan
59 *2 Feb
o ;,4 Jan
6078 Jan
84°8 Mai
43 Jan
48 Deo
I’J8* Dec
12 ‘j J’ly
03*2 J’ly
33*4 Deo
34*2 Deo
16 Apr
33 7e May
125 >2 Deo
113 Sep
755s Sep
6178 Dee
14‘a Doc
30*2 Apr
80*4 Sep
713ie filar
587s May
95 *2 Dec
u34
liA LTl.U O Itl
Chari C & A 2d7s’ 10A-Oi
C ity* Sub ls t 5 s ..’22 J-D
C ity * Sub(Was)lst6s’48
99*2
C oal* 1 Ry 1st 5s’ 20F-A'
115*4 .
Col*Grnv lstOs.1910 J-J
101 I.
Consol Gas 5a..1939 J-D!
9 7 V 9 b Hi’ Ctls indebt 4Ks...... J-J ’
1 0 1 V ....... | Cons GE & P 4*28’35.J-J
Fair* CITr 1st 5s ’38. A-O
71**2 Ga& Ala 1st con 5s ’46 J -J
GaCar&N ls t 5 s g ’29J-J
Georgia P 1st Os.. . ’22 J-J
SOHi' 81
GaSo * Fla lst5sl945J-J
89*4 G-B-S Brew 3-4s 1951M-S
2d income 5s 1951 M-N
Knox v Trac 1st 5s ’28A-0
LakeK El 1st gu5s’42ii-S
. 30
Macon lty* Ltlst5s’53J-J
Memplns St 1st 5s’45 J-J
. ; 05
JletSt( Wasb)lst5s’25F A
15 Alt Ver Cot liuck 1st 5s.
230
NptN&U P 1st 5s’38 fil-N
115 125
Nor&PorTr lst5b’ 30J-D
0
4
17 Norfolk St 1st 5 s’44..J-J
14
Nortli Cent 4 Has 1925 A-O
Series A 5s 1920__J-J
* 92**2 95”
Series B 6s 1920__ J-J
*’ l ‘*2 2*2 Pitt U11 Trac 5s 1997.J-J
Poto Val 1st 5s 1941..J-J
Sav F la*W est5s’34 A-O
Seab * Roan 5s 1920. J -J
South Bound 1st 6 s.. A-O
100*2
UEl L&P lst4HaS’29 M-N
Uu Ry & El 1st 4s ’49 M-S
Income 4s 1949...... J-D
88
100 100*4
Funding 5s 1930...J-D
Va Mid 2d ser Os ’ ll.M -S
104 105
3d series Os 1910..if-S
92*2 9 3 * 2
4til ser 3-4-5s 1921..M-S
100*2
5th series 5s 1920. M-S
92H» 93
Va (State) 3s now ’32.J J
100 107
Fund debt 2-3s 1991 .J J
109 110
West N C con Os 1914 J-J
108
WesVa C& P 1st Og’l 1 J-J
107
W il & Weld 5s-.1935.J-J
Rid I Ask
105*2107
101
101*2
99*2 lOOHi
100.*2 107Hi
107 >4 108*4
*83*2 ’ 84**2
90 ! 90*4
lt'3'4 104*2
10i*2'105*4
113*2 I l f
100*2 108
42
5
102
42Hj
8
95 *2 90*4
97Hi 98*a
100 108
72*2 7234
bu
02
82
82*2
1U5
104 *2 105*a
109
109 *t
100
107 2
105
106
88*2 90
8134 83 *4
02 *« 02-4
84
84 *a
100*4 100«i,
102
103
104
84
84
104
100*4 loO*a
108 110
a Receipts. 6$25paid. c i JO paid. tf$*2'a paid.
THE CHRONICLE
930
lV o L . LXXXXI
Bid Ar.k
Industrial and Mi seel
Const)1 Rubber Tlr,e..10o
3'2 4
Preferred_________ 10
20 __ _
Debenture 4s 1951 A-( / 3j 12 40i2
TRANSACTIONS AT THU NEW YORK STOCK EXCHANGE
121.1 12%
; Crucible Steel______10
DAILY, WEEKLY AND YEARLY.
77.- 77%
ePrelerred _______ 101
*2
Davi : Da'y Copper C o .1
2%
e Diamond Match Co.lOo S8G 87
Railroad,
Slocks
duPjntlEI)ileNemPo 19 . 145 150
Slate
V. S.
Week ending
&c.,
826> 84
ePrelerred _______10
Bonds.
Bonds:
Bonds.
Par value.
Oct. 7 1910.
Shares.
84
e Gold 4 Ks 1936.. J-D 82
Electric Boat________ lOo
20
25
_____
$49,000
Saturday _________
148,839 $13,621,400 $1,135,000
70
Preferred ________ 10i> n00
168,000
1,825,500
- - - - - - telegraph and Telephone
Monday ..................
565,469 51,351,900
10
15
9 Amer Teleg & Cable. 100
Empire S teel________ 106
79
80
39,000
1,957,500
Tuesday....................
438,103 38,556,300
05
e
Central
&
So
Amer..100
Preferred................
10a
116
H71
2
143,000
__
_
_
2,799,500
Wednesday .............
44,274,000
493,515
90 100
Cornin'! UnTel (N Y)_ 25 105
■General Chemical__ 10o
54,000 4
2,301,500
Thursday__________
328,019 29,522,650
Emp He Bay State Tel-100 65
e Preferred _______ 10 . 101) LOS
1.765,500
90,500
Friday____________
270,990 23,9;7,050
F ranklin____________100 40 50 Goldileld Con Mines See S tk Ex list
*ln
* Gold & Stock Teleg. 100 100 .12 Gold Hill Copper ___ 1
r,8
2,245,301 3201,323,300| 311,787,500! 3513.50ol
Total...........
0%
e Northwestern Teleg. 50 105 112
ireene-Cananea_____ 2o
Guggenheim
Explor’n
10b
175
190
Paciilc
H
e
Atlantic___
25
60
Jan. 1 to Oct. 7.
Week ending Oei. 7.
Sales at
e
Hackensack
Water
Co
ePac Teiep & Teleg pf .100 91
93
New York Slock
85
88
Southern Hi A tlantic.. 20 90 100
Uef g 4s '52 op '12..J-J
1909.
1910.
Exchange.
J5
45
Hall Signal Co com._10o
6
Havana Tobacco C0 -.IO 0
3
Companies
132,407,275
163,512,109 B & Ferry
2,245,301
6,014,171
8tooks—No. shares__
8
12
Preferred_________ lOv
N
Y
1st
6s
1911.J-J
93
97
Tar value________ 3201,323,300 3505,428,300 $11,874,79.1,300 S14,951,572,750 N Y & E R Ferry stk. 100 20
1st g as June l '22 J-l> ___ 60
28
$2,200
3892.000
3141,150
$20,700
Bauk shares, par____
leckor-Jones-Jewell MU
1st 0s 1922_______M-N
55
Bonds.
103 105
1st 0s 1922_______ U .
97
NY&Hob 5s May '40.J-D
93
$48,000
3327,200
3487,200
Government bonds__
45
106 Her'g* Hall-Alar, new. 100 30
Hob
Fy
1st
5s
1946
M-N
104
$575,500
36,230,450
30,131,900 N Y & N J 5s 1940___ J-J
$548,500
State bonds________
Hoboken Laud He Imp 10J
93
95
28,918,500
459,357,700
11,787,500
1,028,223,000
RR. and mlsc. bonds..
c 5s 1910................ M-i.
40
9978
10th & 23d Sts Ferry.100 30
5
75 Houston O l _________ 100
1st mtge 5s 1919__ l-D 05
54)5,915,350 31,058,845,700 e Union Ferry stock ..100 26
Preferred ________ too
35 37
Total bonds______ $12,336,000 $27,542,000
29
e 1st 5s 1920-------- M N
93
97 Hudson Realty______100 111)
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
e ingersoil-Rand eom.lOo
95
EXCHANGES
101 1(70
ePrelerred _______10
Short-Icrm Notes
296, 30
Am Cl? ser A 4s 11..M S 997* 100% intercontin't'l Rubber.lOd
95 105
Philadelphia.
Ser B 4s Mch 15 '12 MtS 98 s 9SU tnternat'i Bank'? co.tOb
Week ending
Balt&Ohto J^s 191;'_J-d 9o-).| j9 intermit" .Vler Mar—See .-i tk Ex 1st
Bond
Listed Unlisted
Listed Unlisted
Bond
Betllleh -steel 03 '14._M.-N 95
90 International N tckoi..l0o 137 140
Oct. 7 1910.
sales.
Preferred_________ 10..
shares, shares.
shares. shares.
sales
89
Chic & Alton os '13 M-S 99 991*
92
1st g as 1932_____A-U
90
Cin Ham He D 4S 1913.J-J O/i.i 973.1
93
6,349
$34,000
4,295
8
1,951
$17,500 O O O & St L 5s, Juno '11 10t)% LU06 International Salt____ioj
4.848
0
Saturday------ -------14,343
1st g as I9.)l _____A-o / 45
57.000
9,389
20,199
50,000 Hudson Companies—
50
Monday________ __ 21,809
15,983
42,100
143.500
93 international STver._10u 50
0s Oct 15 1011____A-O
7,638
36,506
97
80
Tuesday__________ 15,491
Preterreil_________ ioj 107 113
13,173
93
6s Feb 1 1913.........F-A
9,924
46,700
63.000
20,394
97
Wednesday_____ ___ 21,852
1st 0s 1943..........._J-o 110 112
10,040
22,203
56.800 luterb R T g 6s 1911.M-N 102b Io2*2
157.500
4,936
Thursday................. 19,399
14,179
44.800
93 99 Intermit Smelt He Rcfg 100 130 140
11,941
4,320
85.000
Friday____________ 22,347
nternat Time ftoco-d. 10v 175 200
90 1 0
Preferred_________ loi, l.)7 112
61.60 4.3
38,158 $204,500
74,073 $540,000 122,091
Total.................... 105,193
b LG ' 4.30 Jones He Laughltn Steel Co
1st s f g 5s IU39..M-N 101 101%
N Y N H & H 53 '
100 .01
L He S F4 Hs'12o
97 ; 93 ;Lackawanna Steel__ 100
38%
85
5s Mch 1 1913..
96 i)7% c 1st con 5s lUoO__ M-.
9734 98% c Deb .>3 191 0______M-S
South lty g 5s 1913..F-A
913-1 9*2l4
All bond prices are now “ and interest" except where marked " f.”
846, 851*
Tidewater 6s. 1913 gu
1006. 1003.1 Lanston Monotype__ loo
Wabasb ij^s 1 9 U ...M
97 Lawyers Mtge Co____10o '23712 245
Street Railways _
Bid
Street Railways
99% 993) Led <3c Wilkes-B Coal ou 225 275
Pub Serv Oorp N J (CM)
New York CUv
90*2 100 e LorUtard (P) pref__ loo 135 145
72
Cons Tract of N J..100
vladison S(| Garden._ltw 35
Bleeck St & Ful F stk .100 16 21
45
___
1st 5s 1933.........J-D 103
2d os 1919.............M-n
85
1st mtge 4s 1950 __J-J 52 GO
New’k PasHy 5s '30 J-J 106
*1
B’y & 7th Ave stk — 100 115 140
Manhattan Transit__ 2o
Railroad
114
235
Rapid
Tran
St
R
y
..l0
0
98 100
2d mtgo 5s 1911__ J-J
9
!hlc Gt Wcom tr ctfslil
St002 Exc Mouongahela R C oal.. 5o *8
1st 5s 1921.........A-O 103
Con 5s 1943—See Stock Exc 1st
Preferred_________ 5u * 20'i 20^4
ePreferred ir c t fs ../
Ust
J C Hob He Paterson—
B’ way Sur. 1st 5s gu 1924 102 105
iilortgage
Bond
Co_
_
luu
111)
Chic Peo He St L—
115
4s g 1949_____M-N
7 1% 75’*2
90
'Cent'l Crosst’n stk ...1 0 0
Nat Bank of Cuba___ 10.
101) 105
Prior lien g4 Hs'30. M / 85
So J Gas El & Trao.lOO 130
1st mtge 6s 1922 __AI-N f 80 ' 85
50 Nat’! Surety_________ lOo iG5 275
Oil
g
5s
1953_
_
M-S
97
27
9
3
*
1
2
«
Nevada
Cotui'il
Copper
■
>
♦gills
,Cen Pk N He E R s t k .. 100 18
20%
5
/ ----No Hud Co Uy 6s 14 J-J 102
Chr't'r & 10th St stk..100 80 90
Nev-Utah Min He Sin. lo ♦15io 1
4
5s 1928............. ..J -J 102
Col & 9th Ave 5s See Stock Exc list
10 60
111) HID e New Central Coai__ 2u
Ext
5s
1924___
31-N
98
Dry D E B & IS—
t EXC IlSC NY Air Brake 6s—See Stk Exc list
Pat Uy con 6s ’31 _.J-D 115
■ 1st gold 5s 1932__ J-D
95 100
95 105 N Y Biscu.t 6s lU ll.A l‘ t> 100
2d 6s opt 1914..A-O 100
Pitts Bess He L E.
Scrip 5s 1914____ F-A / 30
10
25 35
*30 35 a New York Dock___ loo
list
icago
So
Side
El
(Chic)
—See
Ch
ePreferred _______ 100
Eighth Avenue stock. 100 250 320
70 80
*6.12 72i2
Scrip Os 1014___ F-A / 95 100 Syracuse R T 5s ’46..M-S lul 102%
N Y Altge He Security.loo 195 205
N Y Transportation.. 2o *4
42(1 & Ur St F’y stk ..100 200 220 Trent P He II 5s 1913.J-D 95 100
99
5
United
llys
of
St
L—■
Seaboard
Company—
Niles-Hem-Pond' com I0o 97 102
42(1 St M & St N Ave. 100
8
Uom vot tr ctfs___ 100
8%
1st mtge Gs 1910.M-S
72*2 75 Nlpissing Mines______ .. *10la 10'%
e Preferred _______ 100 4012 4ua4
2d Income 6s 1915.J-J /
t Exc list ,Jnto Copper C o.______lo ' l l l 18 l l3ia
Gen 4s 1031—See Stock Exc list Seaboard Air Line—
e Ontario S Iver______I0u
Intcr-Alct—See Stk Exch a n g c
2%
UnltHys San Eran See Stk Exc list
49
100 Dtis 'Elevator com___ IUu
Lex Av & PavF 5s See Stk Exc
52
31.44
32
Wash Uy & El Co____100
Preferred_________ I0 i
92
Mctropol St Uy— See Stk Exc
91% 9412
94
Preferred_________
100
8814
88
Pittsburgh
Brewing..
5o
Ninth Avenue stock ..100 155
*23
23%
4s 1951..................... J-D 83% 83i.|
Second Avenue stock. 100 10
Industrial and Miscel
1st M 5s'09 ext '10-.M-N 993.1
t 90 91 Pittsburgh Coai—See Stk Exo lisp
(las Securities
Consol 5s 1948____F-A / 50
55
*185 190 Pope Alt? Co com_____ lou
01)
P referred...._____ lou
• Sixth Avenue stock ..100 110
,5
i 120 125
fc'J
Pratt He Whitney pret.lOu 100 105
New York
1 150 155
ISou Botilev 5s 1945__ J-J 60
Cent Uu Gas Gs 1927 .J-J 100 101l2 American Brass_____
118 120 Producers Oil________ loo 145 150
!So Per 1st 5s 1919...A -O
88
Con Gas (N Y) — See Stk Exc list
Realty Assoc ( Bklyn). 10o 114 n s
IThird Avenue—See Stock Exc
220 225
e Mutual Gas________ 100 158 166
Royal Bak Powd com.lOu 190 195
Tarry IV P & M 5s 1928 / 50
1 93 101
New Amsterdam Gas—
Preferred_________ 10J 103 107
YkursStRH5s 1946 A-O 75
1 5
1st consol 5s 1948..J-J 9 9 101l2
Safety Car Heat & Lt.100 125 127
28th He 29th Sts 5s '96 A-O l 15
Preferred___ _____
1 I8I4
<<
NY&ERGas 1st 5s '44 J-J 102 104
Twenty-third St stk ..100 190
Consol 5s 1945____ J-J
93
1U0
Union Ry 1st os 1942.F-A 100
99 101 Singer Mfg C o _______100 2(0 300
N Y * Richmond Gas.100 40 50 Amer Press Assoc'n..
Wcstcnest 1st 5s '43 J-J 65
South
Iron
&
S
com
_.10o
9
11
105
1 95
N Y & WcstehestorL'ht’g—
Preferred_________ lot
18 21
tk Ex list
Deb g 5s 1954 guar.J-J 9 9 1011;
Brooklyn
Standard Cordage___ lOu
u
1 10)
Nor Un 1st 5s 1927..M-N 99 101
Atlan Avenue RR—
1st AL g 5s ’31 red. A-U /15
63 70
20
e Standard Gas co m ..100 50
Con 5s g 1931_____A-O 101
Adjust Al 5s Apr 1 1031 73
203 208
e Preferred _______ 100 75
B B & VV E 5s 1033..A-O 0/
American Thread pref
*4% 51.1 Standard Coupler com 106
40
1st 5s 1930............. M-N 102
Brooklyn City S to c k ..10 160
Preferred______. . l o t
410 1 5
100
42 Standard Milling C o.-lO l
Con 5s—See Stk Exch ange
) 39
10
18
Ollier CUies
Pre'erred _______ lot
93 102
Bkln Hgts 1st 5s 1941 A-O 97
Am Gas & Elec c o m .. 50 *43
45
1st 5s 1930_______Al N 85
Bkln Queens Co & Sub—
1 97 too
87
*.|012
Preferred__________ 50
411;
£9
e 1st g 5s '41 op '16.J-J
J
2
3 Standard Oil of N J..101 596 002
Swift He Co—See Bost Stk Exc list
►1st con 5s '41 op’ 16 M-N 05% 97% Amcr Light & T ract..100 285 z95
2/
25
Preferred_________ 100 102 104
1st 5s—S’ -eCnic Stock Exe list
Bklyn Hap Tran—See Stk EXC list
87%
87
Texas Comnauy—See Stk Exch Ust
u 10
Coney Isl He Iiklyn..100 60
10
75 Bay State Gas________ 50
1
9
1st cons g 4s 1048..J-J 78 83 Blugh’ton (N Y) Gas Wks
J 19
20 e 'Texas He Pacific Coal lot 100 105
93
1st g 5s 1933........... A-O 95
Con g 43 1953_____J-J
75 80
686, Title Ins Co of N Y__ 100 140 145
J 67
Tonopab Min (Nevada) I *8>{i 83,
9 ___ 40
Brk C He N 5s 1939.J-J 95 100 Brooklyn Un Gas—A'esStk Exc list
5
31
Trenton Potteries com 10(
4
Kings G El 4s—See Stock Exc list Buffalo City Gas stk ..100
is
0 90 100
Preferred, new____ lou
1st 5s 1947—See Stock Exc list
45
Nassau Elec pref------- 100
0 tk Ex IlSC
6J%
5s 1944................... A-O 103 105 Cities Service C o _____10.)
20
> 124 130 Trow Directory______lot
31)
Preferred__________ 100 75 *7*14
1st 4s 1951—See Stock Exc list
Pre'crred________ _ 9 113 122 Underwood Typow pf 101 09 100
Union Typewriter com 101 42’
N \V bg & Flat 1st ex 4 ,4s 87 92 Con Gas of N J 5s '36.J-J 93 96 Bond & Mtge Guar__ 1 9 235 245
44
1st preferred___
10( 103 10G
Steinway 1st 6s 1922..J-J 103 106 Consumers' L 11 & Pow
) 111 113
5s 1938.......
J-D 110
2d preferred__
100 102 105
) 103 104
Denver
Gas
&
Elec_
_
100
180
Other CUies
5 *7
British Col Copper.
71* United Bk Note Corp. 51 *426, 4G
Gen g 5s 1949 op.M-N 90
Preferred_________ 5u
Buffalo Street Uy—
5 *19-3. 20
*50
1st consol 5s 1931..F-A 103 105 Elizabeth Gas Lt C o ..100 300
1
26
3% United Cigar AHrs___ 10(
59 on
Essex
H
e
Hudson
Gas.
100
136
a Preferred _______lot
Deb 6s 1017........... A-O 103 105
05
) 56
100 li 8
Gas He El Bergen Co._100 75
Columbus (O) St U y .. 100 91
) 125 140 United Copper_______ 101
4H 4Sj
Preferred_________ io(
Preferred_________ 100
foii* e Gr Hap 1st 5s '1 5 .F-A 95
15
9 127 130
20
Hudson Co Gas______100 135
U S Casualty________ 101 215
Colum Uy con 5s—See Phi la Hst
) ___
U S Envelope com__ 10U 50
Crosst’wn 1st 5s '33 J-D 100 102«- Indiana Lighting C o .. 100 33
) ___
4s 1958 op________ F-A 04
Preferred_________
101
75
eConn Uy & Ltg com. 100 73
9
___
Central
101 112
(J S Finishing_______ 101
13
e Preferred _______ 100 77 79*2 Indianapolis Gas------- 50
) ___
95 100
79
1st g 5s 1952_____A-O
Preferred_________ lot 106 111
1st & ret 4J$s—See Stk Exc Ost
40
/ 35
1st
g
vs
1911)..........
J-.
Grand Uaplds Uy pref.100 88 91 Jackson Gas 5s g '37. A-O / 33
) 709
100 105
con •; 5s 192 9 ..
JaLouisv St 5s 1930__ J-.l 104-T *105 e Laclede Gas________ 100 991
67
0 02
95 100
Lynn He Bos 1st 5s '24 J-D 104 10512 e Preferred _______ 100 S5
Preferred________
0 103 11)8' U S Steel Corporation—
e New Or! Itys & Lgt.100
Cot tr s t 5s '51 opt '1 111 115
231£ 23-% Madison Gas 6s 1926. A-O 103
Clatlln (1L Bi coin.
) 10) 106
« Preferred _______ 100 58l2; 591.1 Newark Gas 6s 1914..Q-J 128
Col tr s f 5s '5T not 00 111 115
e 1st preferred___
) 90
*.5
Gen M g 4
'35—See S tk Ex ■1st Newark Consol G as.. 100 93
93 U S Tit Gu & Indem_.10(
) 91
85 105
Pub Serv Oorp of N J.100 160 110
e Con g 5s 1948-__ J-D luais
eUtah Copper Co—See Sti
) ___
list
Tr ctfs 2% to 6%pcrpct 98 100 No Hudson L II <S» Pow—
Westchester <Xj Bronx Tl
J / 45
North Jersey St U y. 100 60
5s 1938..................... A-O n o
He Altge Guar______ 101 10) 170
Col tr 0s Oct 1956.
J / 45
1st 4s 1948.........M-N
Pacific
Gas
&
E,
com.lOU
53
75 *76'
VVcstingh’sc Air Brake.5 •«___ 141
42
J 39
Preferred_________ 100 85
vVest El He Alfg 5s—SeeStl EXV 1st
Pat He Pas Gas He Elec. 100 85
vVorthlng Pump pref-10. 107 110
e Coil g 5s 1949__ M-S 100
____________ St Joseph (bis S* 1937 f-l 88
>» Per snare o Ban.-. j Sells on Stk Ex . HUE not very active
1 Flat price
1Nommai.
s Sale price. x isx-div. i,Ex-rignt..
Volume of Business at Stock Exchanges
Outside Securities
Electric Companies
Chic Edison Co—See Ch,
Gr't West Pow 5s '4 6 .J-1
4 Kings Co E. L&P Co 103
Narragan (Provi El Co_5o
NY&Q Ei L & .'jw Co 10c
Preferred_________ 102
United Elec of N J__ 100
1st g 4s 1019..........J-D
Western Power com. 100
Preferred-------------- 10b
Bid
caeo
85
120
* 85
4.)
4s'c
:1st
87
123
83
50
73
78
75
8)
76% 7731«2 3i
526. 54
O ot . 8 1910,1
THE CHRONICLB
937
In vestm en t a n d R a i l r o a d in t e llig e n c e .
r( A I L H O A D
GrtOSS
tARN U\GS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return3
can be obtained,
the first two columns of figures give the gross earnings tor the latest week or month and the last two
columns the earnings tor the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period
1 ho r e tu r n s o f the eteclric r a ilw a y s a re brou g h t together s e p a r a t e l y o n a s u b s e q u e n t p a q e .
Latest Cross Earnings.
ItOADS
Week or
Month.
Current
Year.
July 1 to Latest Date,
Precious
Year.
Current
Year.
T
T
Previous
Year.
Aid N O & Tex Pat
N O 4 Nor, East, 2d wit >Sep
03.000
55.000
699,686
014,856
33.000
Ala & Vicksburg. 2d wk Sep
29.000
350,360
307,276
27.000
Vicks Slir & Pii'c. 2d wk Sep
27.000
314,855 ' 266,648
8,590
6,466
Ala Tchh & North. A ugust__
15,470
11,261
Atch Topeka & S Fc August__ 0,069,359 8,959,830 17,090,898 16,702,111
43,990
50,51
Atlanta Blrm.tSs Atl. Id wk Sep
587,599
529,786
Atlantic Coast Line A ugust__ 2,009,750 1,704,563 4,217,814 3,657,603
0 Baltimore it Old \ugust . . 3,550,060 7,652,169 16,097,703 14,744,310
B & O Ch Ter it R July ____
130,017
93,650
130,047
03,000
Bangor & AroTdoo; thrust' .
226,01.
229,22
443,384
44 a. 15.i
7,231
Bcllefonte Central.. A ugust__
4,38
13,914
8,574
Boston & MaliiC— A u g u st__ 1,202,366 3.952,534 7,953.596 7,674,901
Bridgeton & Saco R July
5,89
5,224
5,224
5,895
Bud Roch & Pittsb 4th wk Sep 284,97K 253,234 2,547,626 2,455,907
200,947 204,579 2,212.437 2.298.077
Butralo & Susq___ J u n e ____
Canadian Northern. lth wk Sep 453.300 375,900 3,598,000 2.727,400
Canadian Pacific
1th wk Sep ,933,000 2,763,000 27,239,546 22,715.015
Ceiitral of Georgia. 4th wk Sep 343.300 342,500 3,048,844 2,805,083
Central of New Jer July ........ 2,317,508 2.196,010 2.317.50S 2,196,010
Central Vermont__ A ugust__
349,487 341,700
023,810
668,774
Chattanooga isoutri !d w < Se
1,47
1,71
21,51
18,22/
Ches & Ohio Lines 3d wk Sep 711,073 673,090 7,585,195 0,910,302
Chicago & Alton— 3d wk Sep 336,572 330,692 3,550,779 3,293,503
Chto Burl & Quincy August . . 8,360,838 7,900,803 15.454.400 14,726,011
p Chic Great w est 3 I wk So
278,866 2,011,4 It 2,620,64/
313,10
Chic Ind & Loulsv 4th wk Sep 107,521
154,557 1,705,300 1,544,491
Chlclnd & Southern
See New York Cen tral.
Chlo Mliw & St Paul July ........
341,536 5,210,458 5,341,536 5,210,408
Ch MU & Pug Sd. July ____ 1.142,072
1,142,072
Chic & North West. A ugust__ 6.662.990 6,604,786 13,067.212 12,501,026
Chic St P M & Om_ A ugust__ 1.435,815 1,220,019 2,704.770 2,343,995
Cln Ham & Dayton August . . .
902,307 820,450 1.706,745 1,075,499
Ciev Cln Chic A St L See New York Con tral
Colorado Midland.. July ......... 157,340 200,071
157.340
200,071
Colorado & South.. 4th wk Sep 485,667 474,022 4,289,377 4,055,467
Copper Range------- July ____
70,733
77,020
70.733
77,920
Cornwall — ........ .. Vugnst__
15,92.
15,17
34,251,
27,oyo
Cornwall & Leban.. A ugu st__
35,965
36,470
72,848
75,581
Cuba Railroad____ A ugust__
206,870 163,209
440,310
325.638
Delaware & Hudson A ugu st__ 1,893,663 1,662,778 2,500,674 3,248,015
Dei Lack & W est.. A ugust__ 3.081.990 2,887,197 6,080,933 0,055,424
Dcnv & Rio Grande 4 th wk Set) 088,700 662.200 6,486,04/ 0,142,000
Denver N VV & Pac 3d wk Sej>
29,514
21,960
324,634
203,473
Det Tol & Iront Sys 2d wk Sep
44,028
35,528
419,321
324,323
Ann Arbor____
41,176
id wk Sep
37,85
442,683
430,059
Detroit & Mackinac 4th wk Sep
33,510
34,188
319,116
315,517
Dul & Iron Range.. A ugust__ 1,260.381 1,395,856 2,455,435 2,750,162
Dul Sou Shore & Atl 3d wk Sep
77,071
70.295
870,123
814,200
El Paso & Sou Wcsi August__
602,061 582,850 1,187,023 1,189,084
Erie ........................ August__ 5,328,526 1,559,734 10,003,780 8,839,283
Fairchild * Nor E. August__
2.1 18
1,838
4,199
3,624
Fonda Johns & Glov A ugust__
07,403
85,754
193,149
170,961
Georgia Railroad . _ .ugust . .
240,673 226,02
450,215
429,274
Georgia South & Fla —See Sout hern Rail way.
Grand Trunk S yst.. 3d wk Sen 040,498 933.213 0,935,887 10.140,447
Grand Trk West. 3d vvk Sep 125,624 122,782 1,266,317 1,420.706
Det Gr Hav & Mil 3d wk Sep
45,127
43,407
407,677
400,132
Canada Atlantic- 3d wk Sep
41,837
50,660
414,712
470,075
Great Northern Syst August__ 5,875,568 5,557,913 11,608,030 10,872,851
Gulf & Ship Island J u l y _____ 151.726 155,930
151,726
155,930
Hocking Valley__ A ugust__
755.458 673,148 1.415,650 1,231,419
Illinois Central___ A ugust__ 5.224,547 4,870,027 9,936,118 9,200,889
Internat & Gt Nor. 4th wk Sep 347.000 205,000 2,307,379 2,025,030
a Interoceanlc Mex. 4 th wk Sep 188,890 184,103 2,079,768 1,942,582
Iowa Central______ 4th wk Sep
86,173
75,876
857,015
840,538
Kanawha & M ich.. July ......... 200,190 213.091
200,196
213,994
Kansas City South. August -
854,280 756,58
1,699,74
1,422,608
K C Mex & Orient.. 1st wk Aug
35.125
34,140
197,084
174,029
Lehigh Valley. .
A ugust__ 3,137,999 2,920,370 0,014,216 5,680,769
Lexington * E ast.. July .
40,085
30,802
40,985
35,852
Long Island
Inc. 59, 725
A ugu st__
Inc. 170, 103
Louisiana & Arkan. J u l y ___
113,377 106.091
113,377
106,091
loulsv Rend & St L August . .
105,211 102,499
201,490
186,405
t Loulsv <Ss Nashv.. 4th wk Sep 1,425,175 1.348,727 13,300,322 12,218,027
Macon & Blrrn’ham August . .
11,004
11,101
23,081
22,941
Maine Central
859,421 847,768 1,019,130 1,041,004
August . .
Manlstlque__
3,408
A ugust__
3,547
0,691
0,740
Maryland & Pcnna. August . .
42,822
37,376
76,837
69,009
a Mexican Railway. 2d wk Sep 182.000 133,300 1,815,000 1,055,400
See New York Cen tral.
Michigan Central
10,045
Mineral Range____ 3d wk Sep
15,909
167,472
198.084
Mlnncap & St Louis 4th wk Sep 152,942 121,508 1,391,008 1,260,586
Minn St P & S S Ml 4th wk Sep 509,699 707,082 6,087,573 6,152,669
Chicago Division!
Mississippi Central, A ugust__
75,451
66,251
151,164
123,816
ti Mo Kan & Texas. A ugu st__ 2,297,490 2,179,360 4,437,970 4,093,223
Mo Pac A iron Mt
Central Branch.! 4th wk Sep 1,557,000 1.501.000 13,759,106 13,247,109
Nashv Chatt A St L July _____ 920,664 910,984
929.604
910.084
a Nat Rys of Mex./ 4th wk Sep 1,482,790 1.386.000 15,578,390 13,379,158
Nevada-Cal-Orcgon. 3d wk Sep
10,065
9,354
102,527
130,774
Nevada Central___ J u n o _____
7,385
0,016
60,096
75,388
N O Great Northern A ugust__
145,860 101,303
293,474
200,813
N O Mobile A Chic. Wk
____
Sep 24
26,209
34,016
382,671
317,501
N Y Ont A WcstcrnlAugustH
971,416 857,337 1,912,872 1,718,423
Latest Cross Earnings.
IlOADS.
H'ec/c or
Month.
Curren
Year.
July 1 to Latest Date.
Previous
Year.
Current
Year.
Previous
Year.
5
S
5,539,943 5,127,834 10,809,576 10,197,988
9,126.107 8,359,672 17,454,586 16,314,867
4.670,234 4,278,62
8,700,126 8,216,976
548,433 497,435
974,811
888,112
263,335 268,811
509,841
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
342.662 281,254
611,27
531,048
136,229 118,838
237,981
207,169
1,604,201 1.469,846 3,132,837 2,919,325
333,419 300.624
626,752
581.131
958,360 876,323 1,847,330 1,710,130
505,840 410,483
068,81..
751,298
24079992 21920034 45.543.433 42,269,583
309,710 241,233
604,520
485,742
233,198 207,430
464.125
423,898
3.155,833 2,883.006 0,070,198 5,474,307
1,126,836 1,048,830 2,098,651 2,024.151
6.257.749 0,910.977 12,505,085 13,608.955
815.604 734.582
815,004
734.582
5,337,530 4.698,003 10,115,090 0.104,480
14478 399 13544 999 27,756,564 26,460,764
Inc. 1,06 3,400
Inc. 1,68 6,800
1,451,042 1,352,633 2,824,152 2,568,029
1,800,327 1.510,927 3,514,205 3,028,805
3,132.01 2,772,59
5,307,57u 5,211,986
12,542
11,91
24,278
23,403
N Y N H & Ilarft. August
e N Y C & Hud Rlv August ”
Lake Shore & M S August
ti Lake H & West August II
Chic Ind & South August
Michigan Central. August II
Cleve C C 8s St L . August
Peoria & Eastern August "
Cincinnati North. August ”
Pitts & Lake Eric August ’
Rutland .............August 1.1
N Y Chic & St L_ August ._
Toledo & Ohio C_ August
Tot all lines al>ove August II
N Y Suscj & W est.. August __
Norfolk Southern.. August "
Norfolk & Western. August ""
Northern Central.. August ’ *
Northern P aclllc... August
Pacific Coast Co__ DulyPennsylvania Co__ AugiisVIH
d Penn— E of P & E August _
d West of P & E . A u g u st_
Perc Marquette___ \ugust
Phlla Balt & Wash. August III
Pitts Cln Ch & St L. August _
Raleigh & Southport August III
Reading Company —
Phlla & Reading. August . . 3.689.908 .510.464 7,058,67. 6,602,862
Coal & Iron C o .. A ugu st__ 1,900,105 ,780,164 3,399,769 3,377,259
Total both cos__ A ugu st___ 5,590,013 ,290,628 10.45,8442 9.980,122
Rich Fred & Potom July
193,453 184,727
193,453
184,727
Rio Grande June.. {July . . .
89,736
85,820
89,736
85,520
Rio Grande South. 4 th wk Sep
7,759
17,553
103,313
118.200
Rock Island Lines.. A u gu st__ 6,099,280 ,977,132 11,410,219 11,303,734
St Jos & Grand 1st'. July ____
141,222 142,088
141,222
142,088
St Louis & SanFran A ugu st__ 3,641,549 .607,765 6,985,212 6,862,670
Chic & East III.. August . . 1.123.749 970,080 2,033.743 1,823,210
/ Evansv & Ter II August _.
272,192 233,582
497,236
424,836
Total of all lines. A'Orust__ 5,037,491 ,811,428 9,516,192 9,110,717
St L Rky Mt & Pac. J u n e _____
180,967 144,952 1,974,244 1,439,046
St Louis Southwest 4tli wk Sep 317,389 313,264 2,910,700 2,625,875
San Ped L A & S L July
626,820 749,083
026,820
749,083
Seaboard Air L ine.,
Atlanta & Blrm. )b d wk Sep 344,923 362,372 4,055,690 3,840,589
Florida W Shore ,
Southern Indiana.I J u l y _____ 149,759 104,328
149,759
104,328
Southern Paclllc Co A ugu st__ 11748658 11310745 22,963,830
2,125,315
Southern Railway._ 4th wk Sep 1,560,720 1,505,346 14,763,10 13,840,327
Mobile & Ohio__ 4 th wk Sep 273,055 269,736 2,620,27. 2,444,237
Cln N O & Tex P. 4th wk Sep 251,486 273,344
2,087,556
Ala Great South. 4 th wk Sep 131,518 122,230 2,384,834
1,117,826
914,374
Georgia So & Fla. 3d wk Sep
45,284
43,578
513.690
470.963
Texas & Paclllc___ 4th wk Sep 512,237 482.462 3,817,467 3,511,679
Tidewater & West. A ugust__
7.197
6,524
14,381
13,041
Toledo Peor & West 4th wk Sep
39,793
37,883
333,418
296,167
Toledo St L & West 3d wk Sep
89,552
85,477
895,696
891,184
Tomblgbee Valley.. A ugu st__
6,217
6,893
14,298
12,021
Union Paclllc Syst. A ugust__ 8,470,474 7,948,614 16,396,129
Vandalla_________ A ugu st__ 1,002,315 805,665 1,822,654 15,483,468
1,527,581
Virginia & Sou West A ugust__
111,433 100,518
202,837
202,633
W abash__________ 4th wk Sep 835,837 745.462 7,778,060
7,408,003
Western Maryland. July ____
635,116 545,057
635,116
545,057
W Jersey & Scash.. A ugu st__
920,950 820,450 1,767,931 1,583,031
Wheeling & Lake E A ugust__
697,170 615,263 1,327,96' 1,205,828
Wrlghtsvllle & Tenn A ugust__
20,061
19,573
35,356
38,210
Yazoo & Miss Vail. A ugu st__
719,924 742,968 1,391,542 1,380,899
V a riou s F isca l Y ears.
P erio d .
Bcllefonte Central___
Jan 1
Delaware & Hudson..
Jan 1
Manlstlque__________
Jan 1
a Mexican Railway___________ Jan 1
e N Y Central & Hudson River. Jan 1
Lake Shore & Michigan South Jan 1
n Lake Erie & Western.......... Jan 1
Chicago Indiana & Southern Jan 1
Michigan Central... .
' Jan 1
Cleve Cln Chicago & St Louis Jan 1
Peoria & Eastern
Jan 1
Cincinnati Northern
Jan 1
Pittsburgh & Lake Erie
" Jan 1
R u tlan d ______
~ ' Jan 1
New York Chicago & St Louis Jan 1
Toledo & Ohio Central.
Jan 1
Total all lines____
' Jan 1
Northern Central. .
* Jan 1
d Penn— East of Pittsb & "Erlel Jan 1
d West of Pittsb & Eric___ Jan 1
Phlla Baltimore & Washington" Jan 1
Pittsb Cin Chicago & St Louis.. fan 1
Rio Grande Junction______
Deo 1
Texas & Pacific___________ H I Jan
West Jersey & 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.
Previous
Year.
$53,189
13,135,92
28,41.
6,018,400
01,425.384
32.413.251
3,545,092
2,435,599
19,268,044
19.379,102
2,203,037
827,947
11,416,456
2.103.096
7.296,853
3,134,502
168449566
8,289,045
108180 513
Inc. 11,
12,590,610
22,599,261
645,553
11,248,143
4,367,883
$37,826
2,540.282
28,005
5,376,300
58,888,638
28,462,084
3,055,453
1,963,723
17,285,119
17,425,759
1,867,400
731,799
8.701,967
951,187
6,381,603
2,380,834
149095560
7,735,145
96,603,813
066,000
1.194,016
18,802,086
583,409
10,129,847
3,981,483
AGGREGATES OF GROSS EAR N IN G S— Weekly and Monthly
Weekly Summaries.
Sd
4th
1st
2d
Sd
1th
1st
2d
Id
1th
week July
week July
week Aug
week Aug
week Aug
week Aug
week Sept
week Sept
week Sept
week Sept
(43
(42
(43
(43
(42
(39
(41
(30
(40
(25
Cur'nt Year Prev’s Year Inc. or Dec.
$
roads)___ 12,802,686
roads)____ 17.393,199
roads)___ 12,871.219
roads)___ 13,330,857
roads)___ 13.462,769
roads)___ 19,342,788
roads)___ 13.430,925
roads)___ 13,898.196
roads)___ 14.164,775
roads)___ 15,139,233
$
11,432,364
10,676,649
11,908,289
12,132,599
12,283,830
16,705,742
12.381.354
13,014,025
13.566.355
14.470,082
S
+ 1,370.322
+ 710,550
4-905,930
+ 1,198,258
+ 1,178,889
+ 2,577,046
+ 1,055,571
+ 884.171
+ 598.420
+ 069,151
%
Monthly Summaries.
11.99
4.29
7.94
9.87
9.00
15.37
8.52
0.80
4.41
4.63
Mileage Curr. Yr. Prev. Yr.
November ..236,374 230,650
Decenber ..237,189 231,699
J a n u a ry __ 236,758 231,302
February ..236,852 231,652
M arch_____235,925 230.841
A p r il______ 237,509 232.483
M ay _______ 237,560 232,494
J u n o ---------238,108 232,054
J u ly _______ 221,164 217,466
A u g u s t____81,879
78,874
Current Yr. Previous Y . Inc. or Dec.
$
$
$
247,370,954 211,281,504 + 36 089,450
222,006,184 205,455,121 + 10.551,063
210,302,219 182,0 19,825 + 27,652,394
202,258,490 171,159,723 + 28,098,767
237.533.005 201,916,997 + 32,610,008
225.225,590 196,595,911 + 28.029,685
234,310.642 201.009,381 + 33,241,261
237.036.159 209,270,887 +- 27,765,272
217,202.265 205,879,959 + 11,322,306
62,005,137 56,405.033 + 5,600,104
17.08
08.05
15.14
10.15
15.92
14.56
16.53
13.27
5.50
9.90
|». Y. Ry the latter of which, being^Canadian r Z T d o e s not makc^returns ^ o the* Interstate ‘c omm' U ? nM * Adirondack and tb. Ottawa &
Indiana HU. g Includes the Cleveland Lorain & Wheeling By °n b o t h y e a r s „ Includes the
n h f f m r ™ 13/ 10!1 , ’ IncluJes KvansvlPe <*
ft Ft Dodge and Wise Minn. * Pacific, s Includes LonRvltie & Atlantic
Oh‘ 0
,P Includes earnings of MasonCIty
rt^cs the Mexican International Irom July 1910. u Include the T o ^ Central la 1910.
Frankfort & Cincinnati from Nov- l 1909.
/ In-
938
THE CHRONICLE
[VOL. L X X X X I.
-----Net Earnings----------- Gsoss Earnings---Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
5
5
$
5
2,804,360
2,811,893
c N Y C t & Hud RiV-b-Aug 9,126,107 8,359,672
64,425,384 58,888,638 16,235,104 17,307,450
Jan 1 to Aug 31
Lake Sh & Mich S o.b Aug 4,670,234 4,278,627 1,522,363 1,877,577
Jan 1 to Aug 3 1 ______32,413,254 28,462,084 9,773,753 10,554,702
171,933
166,555
Lake Erie & W est. b -Aug
548,433
497,435
e
Fourth week of September.
1909.
Increase.
786,258
524,811
Jan 1 to Aug 3 1 ......... 3,545,692 3,055,453
57,029
43,281
Chic
Ind
&
South’n
.b
.
Aug
263,335
268,811
$
$
610,454
401,595
Jan 1 to Aug 31___ . 2,435,599 1,963,723
9,288
Alabama Great Southern--------122,230
Buffalo Rochester & Pittsburgh
253,234
31,744
895,787
794,074
Michigan Central, b . . . Aug 2,769,358 2,428,089
77,400
Canadian Northern----------------375,900
Jan 1 to Aug 31______ 19,268,644 17,285,119 5,448,435 5,296,189
Canadian P acific------------------2,763,000 170,000
737,113 1,002,335
Clev Cin Chic & St L b Aug 2,821,754 2,620,032
Central of Georgia-.... ......... - 342,500
800
Jan
1 to Aug 31______ 19,379,102 17,425,759 4,266,992 4,808,629
Chicago Ind & Louisville_____
154,557
12,964
117,696
21,858
112,486
342,662
291,254
Peoria & Eastern.b-.Aug
273,344
Cine New Orl & Texas Pacific. _
512,292
590,852
Jan 1 to Aug 31______ 2,203,037 1,867,400
474,022
11,645
Colorado & Southern_________
26,500
662,200
Denver & Rio Grande________
38,689
44,692
Cincinnati Northern.b Aug 136,229
118,838
34,188
Detroit & Mackinac__________
148,518
167,812
Jan 1 to Aug 31______
827,947
731,799
265,000
82,000
International & Great Northern
873,930
903,728
Pitts
&
Lake
Erie.b
..A
ug
1,604,261
1,469,846
4,787
184,103
Interoceanlc of Mexico ______
Jan 1 to Aug 31______ 11,416,456 8,701,967 6,223,684 4,662,091
75,876
10,297
Iowa Central_________________
1,348,727
76,448
125,303
Louisville & Nashville________
115,465
R u tla n d .b --------------- Aug 333,419
300,624
124,508
2 ,434
540,421
605,344
Minneapolis & St L o u is.___ ..
Jan 1 Jo Aug 31______ 2,103,096 1,951,187
767,682
Minn St Paul & Sault Ste Marie 1
338,756
265,871
N Y Chic & St Louis b Aug 958,360
876,323
Chicago Division__________ )
Jan 1 to Aug 31______ 7,296,853 6,381,603 2,239,404 1,896,497
1,501,000
56,000
Missouri Pacific______________
170,239
200,068
505,840
410,483
Toledo & Ohio Cent.b Aug
3,319
269,736
Mobile & Ohio ____ _________
655,675
Jan 1 to Aug 31______ 3,134,502 2,380,834 1,073,525
1,386,099
96,691
National Railways of Mexico. _
7,759
9,794
Rio Grande Southern_________
Total all lines-b____ Aug 24,079,992 21,920,034 7,711,586 8,482,637
313,264
4,125
St Louis Southwestern
__
Jan 1 to Aug 31_____ 168,449,566 149095,566 48,021,617 47,308,870
55,374
1,505,346
Southern Railway------------------N Y Ontario & West .a --A u g
971,416
857,337
376,887
332,412
482,462
29,775
Texas & Pacific______________
July 1 to Aug 31______ 1,912,872 1,718,423
364,292
627,599
37,883
1,910
Toledo Peoria & Western--------Norfolk & W estern.b---A ug 3,155,833 2,893,006 1,202,931 1,251,473
745,462
90,375
Wabash______________________
July 1 to Aug 31______ 6,070,198 5,474,307 2,189,230 2,261,218
15,139.233 14,470,082 889,670 220,519 Northern P a c ific .b ___ Aug 6,257,749 6,910,977 2,575,376 3,208,511
Total (25 roads)___
669,151
Net Increase (4.63%)
July 1 to Aug 31______ 12,505,085 13,608,955 5,058,045 6,183,597
Penna Company- b ______Aug 5,337,536 4,698,063 2,082,710 2,027,503
July 1 to Aug 31_10,115,090
9,104,480 3,669,653 3,835,154
For the month of September the returns of 23 roads show Rio Grande J u n c tio n .J u ly
89,736
85,520
«26,921
n25,656
Dec 1 to July 31_
645,553
583,409
7(193,066 «175,023
as follows:
Rio Grande Southern b_. Aug
54,808
49,134
19,182
18,130
July 1 to Aug 31_
109,581
94,257
38,470
30,989
1909.
Increase.
Month of September.
1910.
%
St Louis & San F ran.b--A ug 3,641,549 3,607,765 1,230,721 1,110,402
July 1 to Aug 31______ 6,985,212 6,862,670 2,195,074 2,146,891
5.34
Gross earnings (23 roads)--------- 42,261,706 40,117,503 2,144,203
Chicago & East IU-b-Aug 1,123,749
970,080
391,177
381,170
July 1 to Aug 31______ 2,033,743 1,823,210
674,590
681,170
Evansv & Ter H au.b.Aug
272,192
233,582
120,096
114,416
It will be seen that there is a gain on the roads reporting
July 1 to Aug 31_____
497,236
424,836
207,413
191,635
all
lines,
b
______
Aug
5,037,491
4,811,428
1,741,995
1,605,989
Total
in the amount of $2,144,203, or 5 .3 4 % .
July 1 to Aug 3 1 _____ 9,516,192 9,110,717 3,077,077 3,019,696
Southwest.a---Aug
960,178
854,155
196,096
243,213
Net Earnings Monthly to Latest D ates.— The table fol St Louis
July 1 to Aug 31______ 1,870,665 1,652,948
373,263
452,007
lowing shows the gross and net earnings of STEAM railroads Texas & Pacific.b ............ Aug 1,294,383 1,174,208
258,477
322,235
Jan 1 to Aug 3 1 _____ 9,858,075 8,811,103 1,780,671 1,601,137
and of industrial companies reported this week:
6.893
6,217
2,529
1,862
Tomblgbee V alley.b ___ Aug
July 1 to Aug 31_____
14,298
12,621
5,603
4,161
------ Gross Earnings-------------- Net Earnings-----Current
Previous
Current
Previous
Vandalla b . .............
Aug 1,002,315
805,665
280,326
247,148
Roads.
Year.
Year.
Year.
Year.
Jan 1 to Aug 31______ 1,822.654 1,527,581
409.404
400,437
$
$
$
$
719,924
742,968
35,228
def2,087
Yazoo & Miss V alley.a--A ug
July 1 to Aug 31______ 1,391,542 1,386.899
Alabama Tenn & N or.b. Aug
8,590
6,466
4,175
3,385
89,233 def02,081
July 1 to Aug 31______
15,479
11,261
7,574
5,794
INDUSTRIAL COMPANIES.
Atlanta Blrm & A t l b - A u g
230,079
195,586
56,186
35,308
------ Gross Earnings-------- ----- Net Earnings-----442,990
378,247
104,994
57,466
July 1 to Aug 31--------Current
Previous
Current
7,231
4,385
2,305
def 204
Beliefonte Central-b___ Aug
Year.
Year.
Year.
Companies.
Year.
Jan 1 to Aug 31______
53,189
37,826
9.979
1,252
$
%
?
$
Abington & Rockland Elect
Boston & Albany, b—
2,581
3,221
967,359
968,871
Apr 1 to June 30______ 3,573,190 3,220,507
6,411
Light & Power Co . b - Aug
8,493
15,208
18,581
Jan 1 to June 30_______ 6,810,618 6,083,197 1,525,208 1,540,225
59,670
43,482
Jan 1 to Aug 31--------July 1 to June 30_______ 14,079,121 12,141,773 3,667,344 2,950,562 Blackstonc VallGas&El bAug
34,334
41,140
81,376
74,405
286,799
336,109
Boston & M aine-b____ Aug 4,202,366 3,952,534 1,462,948 1,522,291
657,633
607,607
Jan 1 to Aug 31--------July 1 to Aug 31______ 7,953,596 7,674,901 2,620,631 2,843,039 EdlsonElecCo(Brock'n) bAug
7,058
23,310
19,792
9,029
70,793
85,897
166,657
191,785
Chesapeake & Ohio___ Augd2,949,328 2,642,595 d l,131,194 1,113,388
Jan 1 to Aug 31--------July 1 to Aug 31______d5,638,023 5,052,602 <(2,106,732 2.088,576 Fall River Gas Works b Aug
14,606
33,529
16,104
36,436
107,403
117,442
Chic Burl & Quincy .b --A u g 8,366,838 7,900,803 2,947,787 2,646,452
256,522
275,454
Jan 1 to Aug 31______
July 1 to Aug 31......... .15,454,409 14,726,611 4,596,944 4,683,868 HoughtonCoElectLt. b . - Aug
8,343
7,540
18,440
18,261
75,952
Chic & North W est.b -.A u g 6,662,990 6,604,756 2,001,694 2,316,155
82,074
161,552
171,510
Jan 1 to Aug 31______
July l to Aug 31______ 13,067,212 12,501,026 3,966,385 4,240,997 Lowell Elect Lt Corp b-Aug
11,617
12,031
26,665
31,667
91,790
115,219
Chic St Paul Minn & O b Aug 1,435,815 1,220,019
506,678
389,085
226,370
271,081
Jan 1 to Aug 31--------July 1 to Aug 31______ 2,704,770 2,343,995
874,302
726,844 g Mexican Tel & Tel Co.Aug
21,604
25,209
39,926
47,772
110,262
146,824
226,878
70,733
79,920
20,880
36,544
Copper R ange.b.............July
Mch 1 to Aug 31______
277,307
40,612
52,998
77,508
91,732
Cuba R R ..................... --A u g
206,870
163,209
84,491
51,094 Minn Gen Elect C o .b __ Aug
390,604
697,459
478,573
794,270
July 1 to Aug 31...........
440,310
325,638
202,923
100,112
Jan 1 to Aug 31___
32,163
31,430
44,054
Delaware Lack & West b Aug 3,081,996 2,887,197 1,233,640 1,305,895 Sierra Pacific El C o .b __ Aug
45,636
July l to Aug 31______ 6,089,933 6,055,424 2,485,069 2,883,130
a Net earnings here given arc after deducting taxes,
Denver & Rio Grande.a-Aug 2,200,422
2,046,674
705,699
674,144
Jan l to Aug 31______ 4,250,147 4,037,190 1,406,337 1,378,150
b Net earnings here given are before deducting taxes.
Duluth So Sh & A tl.b --A u g
336,479
308,440
126,587
110,595
c Includes the N. Y. & Ottawa, the St. Lawrence & Adirondack and the
July 1 to Aug 31______
648,462
593,674
243,111
192,540 Ottawa & N. Y. R y., the latter of which, being a Canadian road, does not
make
returns to tlie Inter-State Commerce Commission.
Grand Trunk of Canada—
Grand Trunk R y ____ Aug 3,067,842
2,939,366
854,071
846,771
<( Includes Chesapeake & Ohio Railway Co. of Indiana in 1910.
July 1 to Aug 31____ 5,606.208
5,659,739 1,565,553 1,557,280
e Includes the Northern Ohio RR.
Grand Trunk W est...A u g
498,330
576,681
98,790
206,340
h For Aug. 1910 additional income Is gis'en as showing a credit of $2,508,
July 1 to Aug 31______
892,516
1,047,271
157,188
326,542 against a deficit of $1,879 in 1909, and for period from July 1 to Aug. 31 was
Det Gr Hav & MIlW-.AUg
156,701
172,766
11,679
41,851 a credit of $4,619 in 1910, against a deficit of $2,660 last year.
July 1 to Aug 31...........
277,877
323,135
12,652
68,860
k For Aug. 1910 additional Income was $13,813, against $15,518 In 1909,
Canada Atlantic____ Aug
162,541
190,280
4,380
21,413 and for period from July 1 to Aug. .31 was $25,454 in 1910, against $33,140
July 1 to Aug 31______
289,070
339,681 def.5,353
11,193 last year.
Great Northern.b _____ Aug 5,875,568
5,557,913 2,527,206 2,421,303
n These figures represent 30% of gross earnings.
July 1 to Aug 31 - ....... .11,668,030 10,872,851 4,621,183 4,669,061
Hocking V alley.a...... --A u g
755,458
673,148
331,322
285,701
Interest Charges and Surplus.
July 1 to Aug 31......... - 1,415,650
1,231,419
587,493
509,050
-Hal. oj Net Earns.—
—Int., Rentals. &c.—
Illinois Central . a _______Aug 5,224,547
4,870,027 1,174,726
836,899
Current
Previous
Current
Previous
July 1 to Aug 31______ 9,936,118 9,200,889 2,113,809 1,224,470
Year.
Year.
Year.
Companies.
Year.
$
S
Iowa Central.a________ Aug 302,174
270,860
(i72,373
/t03,075
?
?
July l to Aug 31.........
545,061
523,599
(<98,330
(<94,237 Bellefonte Central
2,063
243
def 44 7
236
- Aug
8,091
1,944
dcf692
1,888
Jan 1 to Aug 31
Louisville & N ash v.b.--A u g 4,567,267 4,061,442 1,338,462 1,597,713
July 1 to Aug 31______ 8,768,867 7,950,235 2,408,011 3,070,027 Boston & Albany—
April 1 to June 30 .
1,099,419 1,170,1 19 £def97,2 54rdef 165,558
Maine Central.b _______ Aug
859,421
847,768
249,421
339,834
Jan 1 to June 30. .
. 2,191,271 2,212,033ardcf601,204.-rdef600,701
July 1 to Aug 31_____ 1,619,133
1,641,604
466,187
652,364
July 1 to June 30. . . 1,388,439 4,069,32 6-rdcf 578,330£def031,314
Mineral R ange.b_______ Aug
64,366
76,301
5,291
15,908
11,976
5,108
24,568
15,712
July t to
Aug 31_
122,500
149,966
def9,128
26,723 Copper Range— . . . July
34,990
16,098
36,667
47,824
MInneap & St Louis.a . -Aug
433,300
375,730
*117,770 *122,108 Cuba R R --------------------- Aug
69,992
July 1 to Aug 31 ___
30,120
73,334
120,589
July 1 to
Aug 31_
846,870
742,490 k232,686 *244,082
<(314,116
417,001
481,884
<(278,179
Mississippi C entral-b.--A ug
75,451
66,251
29,860
28,876 Denver & Rio Grande..Aug
<(696,216
821,475
<(608,113
July 1 to Aug 31 ___
947,488
July.1 to
Aug 31_
151,164
123,816
65,364
47,799
r23,799
96,410
91,748
£35,201
Missouri Ivan & Texas.b Aug 2,297,490
2,179,360
654,917
809,383 Duluth So Sh <!c A tl----- Aug
£15,040
£02,349
185,309
July 1 to Aug 3 1 _____
193,353
July 1 to Aug 31______ 4,437,970 4,093,223 1,092,127 1,343,314
£2,794
13,132 £def7,202
Mineral Range------- ------ Aug
13,792
New London Northern, b—
£367
July 1 to Aug 31______
26,425
20,394 £def33,075
Apr 1 to June 30_____
296,551
286,412
32,980
74,160
Jan 1 to June 30______
578,080
544,496
44,666
97,562 Mo Kansas & Texas----- Aug
£279,422
£73.021
534,038
611,111
July 1 to June 30_____ 1.169,389
1,081,998
124,197
156,831
£def43,552
£275,722
1,075,832
July 1 to Aug 31______ 1,172,956
New Orleans Great No .a Aug
145,860
101,363
58,275
29,856 New London Northern—
July 1 to Aug 31--------293,474
206,813
122,080
61,556
62,988 def. 13,881
11,172
Apr 1 to June 30______
46,861
125,976 £dt.02,671
N Y N II & H a rtf.b --.A u g 5,539,943 5,127,834 2,169,810 2,129,332
Jan 1 to June 30______
109,849
251,052 rdf. 130,018
July 1 to Aug 31_______10,809,576 10,197,988 4,148,791 4,148,531
235,825
July 1 to June 30---------
Latest Gross Earnings by Weeks.— In the table which fol
lows we sum up separately the earnings for the fourth week
of September. The table covers 25 roads and shows 4 .6 3 %
increase in the aggregate over the same week last year.
Roads.
O c t . 8 1 0 1 0 .]
THE CHRONICLE
Roads.
New Orleans Great Nor Aug
July 1 to Aug 31
Norfolk & Western___ .Aug
July 1 to Aug 31
N Y Ont & Western.... -Aug
July 1 to Aug 31..
Rio Gramlc Junction. .July
Dec 1 to July 31
Rio Grande Southern.. -Aug
July 1 to Aug 31
—lilt.. Rentals, &c.— -—Hal. o/ Net Earns.—
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
5
41,920
20,793
136
45,813
781
83,695
93,196
45,790
463,127
699,895
788,346
503,036
1,006,487
926,587 1,182,743 1,334,631
98,367
234,045
126,492
250,395
433,669
193,930
531,179
233,113
8,333
18,588
17,323
8,333
66,667
66,667
126,999
103,356
:rdef981
19,148
,l'def 22 8
19,625
39,054
38,229
:C3,109 a:def2.939
INDUSTRIAL COMPANIES.
—Int., Rentals, &c.— -—Bal. of Net Earns.—
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
Companies.
$
5
$
?
Abington & Rockland Elect
2,103
2,407
Light & Power Co__ . Aug
478
814
12,177
12,460
Jan 1 to Aug 31.
6,121
3,031
4,893
10,918
Blackstone VallGas&El - Aug
30,222
29,441
66,688
Jan 1 to Aug 31
115,693
220,416
220,111
3,438
4,165
EdisonElecCo( Brockton) Aug
3,620
4,864
44,720
53,101
Jan 1 to Aug 31
32,796
26,073
12,259
12,847
2,347
Fall River Gas W ork s.. -Aug
3,257
87,913
19,490
89,188
28,254
Jan 1 to Aug 31.
4,077
4,266
2,987
4,553
Houghton Co Elec Lt. -Aug
42,812
33,140
47,099
34.975
Jan t to Aug 31
4,817
6,800
4,863
7,168
Lowell Elect Lt Corp . -Aug
37,087
33,589
58,201
78,132
Jan 1 to Aug 31..
31,753
30,027
10,585
21,245
Minn Gen Elect Co. . -Aug
251,300
239,790
150,817
227,273
Jan 1 to Aug 31..
6,028
5,927
26,236
Sierra Pacific Elect Co. -Aug
25,402
(l These figures are after allowing for other Income and for discount and
exchange. The sum of $10,000 Is deducted every month from surplus
and placed to the credit of the renewal fund.
x After allowing for other Income received.
E L E C T R IC
R A IL W A Y A N D TRACTION COMPANIES.
Name of
Road.
Latest Gross Earnings.
Week or
Month.
Current Previous
Year.
Year.
$
362,073
178,730
58,065
9 ,155
37,33(1
216,505
16,057
30,777
16,689
78,790
77,085
1192,827
40,275
118,257
189,322
101,983
215,316
46,897
56,696
American It vs Co___ A ugust__
cAug Elgin & Cldc Ry A ugu st__
Bangor Ry & Elec Co A ugust__
Baton Rouge Elec Cc A ugust__
Binghamton St lly . July ____
Blrm’ham Ry Lt & P July _____
Brockt’n & Ely St Ry August__
Cape Breton Elec Co_ A ugu st__
Carolina Row & Lt Co A ugust__
Central Penn Trac__ A ugu st__
Chattanooga Ry & Lt A ugust__
Chicago ltys Co____ July ____
Cleve Palnesv & East August . .
Dallas Electric Corp. Au rust .
Detroit United R y __ 3d wl( Sept
Duluth-Superior TrCo A ugust__
East St Louis & Sub. A ugust__
El Paso Electric____ A ugust__
Falrm & Clarks Tr Co A ugu st__
Ft Wayne & Wabash
Valley Traction Co August __ 140,625
Galv-Hous Elect Co. A ugust__ 124,764
Grand Rapids Ry Co. A ugust__ 111,814
Havana Electric R y. Wk Oct 2 40,154
Honolulu Rapid Tran
& Land C o ..
37,866
J u n e ____
Houghton Co Trac Co A ugust__
29,709
Illinois Traction C o .. July _____ 506,907
Jacksonvtlle Elect Co A ugust__
47,043
Kans City Ry & Lt Co A ugust__ 621,929
Lake Shore Elec Ry A ugu st__ 139,896
Milw El Ry & Lt Co. August . .
407,973
Mllw Lt Ht & Tr Co. A ugu st__ 114,778
Montreal Street R y . _ A ugust__ 398,828
Nashville Ry & Light A ugust__ 146,038
New Orleans Ry & Lt A ugu st__ 487,436
North Ohio Trac & Lt August j - . 263,149
North Texas Elec Co August __ 119,813
Northwest Elec Co September 179,710
Norf & Portsm Tr Co August . .. 188,834
Oklahoma City Ry._ May ____
53,861
Paducah Tr & tL Co. A ugu st__
20,780
Pensacola Electric Co A ugu st__
24,177
Port(Ore)Ry,L&P Co A ugu st__ 479,914
Puget Sound Elec Co A ugu st__ 173,939
Rio de Janeiro Tram
Light & Power Co. A ugu st__ 1027,931
St Joseph (Mo) Ry Lt
89,773
Heat & Power Co. . A ugu st__
.Sao Paulo Tr Lt & P. A ugust__ 258,704
56,870
Savannah Electric Co August —
Seattle Electric Co_. August — 479,573
17,103
Sou Wisconsin Ry Co August . . .
50,346
Tampa Electric Co. A ugust__
Toledo Rys & Light. July ......... 239,621
Toronto Railway Co. August . . 380,934
Twln City Rap Tran. 3d wk Sep 146,769
Underground El Ry
of London—
Three tube lines__ Wk Oct 1 £12,120
Metropolitan Dlst. Wk Oct 1 £10,567
United Tramways. Wk Oct 1 £6,755
Union Ry.fl &EGo( 111) A ugu st__ 232,494
United RRs of San Fr July ____ 618,635
Whatcom Co Ry & Lt A ugu st__
32,470
$
347,955
163,698
57,593
8,681
34,910
183,187
17,912
26,669
17,159
70,031
67,798
1077,694
36,389
112,802
154,027
92,235
177,210
46,447
42,864
Jan. 1 to latest date.
Current
Year.
Previous
Year.
2,589,201 2,391,526
1,099,888 1,009,205
367,.877
343,160
70,940
62,500
1,496,110 1,276,482
82,155
91,070
188,228
162,014
130,945
123,773
554,910
501.768
573,925
506,979
7,635,344 6,961,458
235,734
210,844
917,809
823,731
6,741,826 5,728,114
717,157
636,384
1,545,513 1,304,677
405,486
376,374
298,746
383,960
133,412
111,295
99,838
38,293
998,040
855,991
755,642
1,624,094
905,614
793.768
678,396
1,512,639
34,689
32,925
437,484
38,782
591,111
1.30,993
374,680
106,994
355,230
138,195
470,5.30
231,062
109,422
169,156
174,21 1
.37,53.3
19,930
22,205
429,276
194,383
221,557
210,740
3,351,404
377,419
4,867,429
798,655
3,054,818
698,078
2,863,033
1,178,539
4,135,528
1,612,504
923,370
1,640,044
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
227,916
149,144
170,200
162,401
3,610,280 3,126,870
1,284,729 1,230,931
673,220 6,381,840 4,904,764
90,524
674,715
634,522
193,203 1,889,744 1,575,775
5.3,931
410,585
402,295
610,816
14,430
111L290
106,938
48,468
414,236
389,146
226,565 1,700,500 1,528.054
33.3,22.3 2,767,358 2.477.3 10
136,286 5,427,7.3 4,987,533
£12,275 £494,480 £488,560
£9,933 £416,557 £380,548
£5,997 £251,246 £240,737
219,083 1,895,832 1,792,412
621,753 4,373,490 4,190,658
260,355
205,509
36,841
c These figures are for consolidated company.
Electric Railway Net Earnings.— The following table gives
the returns of E LE CTR IC 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
Oct. 29 1910.
----- Gross Earnings------ ------ Net Earnings----Current
Previous
Current
Prcviotis
Year.
Year.
Year.
Year.
$
5
$
$
Aurora
Elgin
&
C
hic.b.
Aug
_____ _____ ---------„
178,730
163,698
91,254
87,25
July 1 to Aug 31 ..........
361,118
331,312
186,029
176 96
Baton Rouge Elect Co.b.Aug
9,155
8,681
3,300
3,16
Jan 1 to Aug 31--------70,946
62,500
25,047
16,72
Roads.
939
------ Gross Earnings---- ------ Net Earnings-----Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
3
3
3
Boston Suburb E lect.x.A ug
43,055
43,300
107,791
111,521
Oct 1 to Aug 31______
231,091
837,076
858,815
235,198
6,717
Broclct & Plym St Ry.b.Aug
16,057
17,912
8,598
Jan 1 to Aug 31______
28,375
82,155
91,070
25,390
Cape Breton Elect C o.b-A ug
12,863
30,777
26,669
15,074
59,889
188,228
162,014
83,017
n3"3,309
1,192,827 1,077,694
n.357,849
Jan 1 to July 31______ 7,635,344 6,961,458 « 2 ,290,604 n2,088,437
Columbus Elect C o .b .-.A u g
39,328
11,472
22,789
31,783
Dallas Elect C orp.b___ Aug
118,257
35,620
112,802
40,532
Jan 1 to Aug 3 1______
917,809
823,731
301,035
282,393
El Paso Elect Co. b
Aug
46,897
46,447
16,167
17,901
Jan 1 to Aug 31______
405,486
376,374
171,192
145,788
Ft W & Wab Val T r.b .A u g
140,625
133,412
66,699
59,157
Jan 1 to Aug 31______
998,040
905,614
434,623
368,139
Galvest-Houst El Co b Aug
124,764
111,295
58,832
48,319
Jan 1 to Aug 31______
855,991
793,768
327,401
325,476
Houghton Co Tract Co.b. Aug
29,709
32,925
16,171
17,337
Jan 1 to Aug 31______
210,740
97,834
213,693
96,022
Jacksonville Elect Co b Aug
47,043
38,782
19,943
17,490
Jan 1 to Aug 31______
377,419
312,212
174,794
131,122
Northern Tex El Co b Aug
119,813
109,422
55,860
51,529
Jan 1 to Aug 31______
923,376
805,290
420,350
353,064
Norfolk & Portsm T r.b Aug
188,834
174,211
88,334
77,874
July 1 to Aug 31______
385,732
354,437
178,179
156,938
Paducah Tr & Lt C o.b.A u g
20,780
19,930
8,973
8,649
Pensacola Elect C o .b __ Aug
24,177
22,205
9,695
9,691
Jan 1 to Aug 3 1 _____
176,200
162,401
72,337
70,358
Puget Sound Elect C o.b.A u g
173,989
194,383
73,820
80,516
Jan 1 to Aug 31______ 1,284,729 1,230,931
441,736
404,445
Quebec Ry Lt & P ow -.A u g
129,323
115,136
65,294
57,477
July 1 to Aug 3 1 _____
252,668
221,662
131,251
101,573
Savannah Elect C o .b __ Aug
56,870
53,931
18,190
17,547
Jan 1 to Aug 31______
416,585
402,295
143,837
141,147
Seattle Elect C o .b ____ Aug
479,573
610,816
220,824
298,697
Tampa Elect C o .b ____ Aug
50,346
48,468
25,276
19,665
Jan 1 to Aug 31______
414,236
389,146
183,377
158,164
Twin City Rap Tr Co b - Aug
660,656
641,062
362,333
378,583
Jan 1 to Aug 31______ 4,925,515
4,531,222 2,560,470 2,368,690
Whatcom Co Ry & L t.b -A u g
32,470
36,841
11,405
17,666
Jan 1 to Aug 31______
265,509
260,355
102,542
111,624
Roads.
a
b
n
x
Net earnings here given are after deducting taxes,
Net earnings here given are before deducting taxes.
These figures represent 30% of gross earnings.
Includes Middlesex & Boston and Lexington & Boston St. Ry. lines.
Interest Charges and Surplus.
— In/., Rentals, &c.--------Bal. of Net Earns
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
5
S •
5
Aurora Elgin & Chicago. Aug
33,039
29,351
58,215
57,899
July 1 to Aug 31
...
65,608
58,250
120,421
118,719
Baton Rouge Elec Co . _Aug
1,945
1,951
1,355
1,211
Boston Suburban Elec. Aug
14,899
13,893
28,401
29,162
Oct 1 to Aug 31
160,723
153,347
74,475
77.714
Brock & Plym St R y
Aug
1,601
1,661
6,997
5,056
Jan 1 to Aug 31___ .
14,076
14,706
11,314
13.6C9
Cape Breton Electric Co. Aug
6,174
6,207
8,900
6,656
Jan 1 to Aug 31 . . .
42,762
42,633
40,255
17,256
Cfiumbus Electric Co .Aug
17,887
12,677
4,902 d cf.l 205
Dallas Electric Corp
.Aug
25,659
28,649
9,961
11,883
Jan 1 to Aug 3 1 . ____
208,170
226,752
74,223
74,283
El Paso Electric Co___ Aug
8,215
8,259
7,952
9,642
Jan 1 to Aug 31--------66,842
63,812
104,350
81,976
Ft Wayne & Wab Vail. _ Aug
45,845
45,112
20,854
14,045
Jan 1 to Aug 31
360,441
338,773
74,182
29,366
Galv-Houston Elec C o ._Aug
25,965
21,679
32,867
26,640
Jan 1 to Aug 3 1 . . ......
184,041
169,401
143,360
156,075
Houghton Co Trac Co__ Aug
6,637
6,215
9,534
11,122
Jan 1 to Aug 31______
50,723
4 7,572
47,111
48,450
Jacksonville Electric Co. Aug
9,494
9,520
10,449
7,970
Jan 1 to Aug 3 1 ..
73,705
74,088
101,089
57,034
Northern Texas Elec Co. Aug
20,300
17,190
.35,560
34,339
Jan 1 to Aug 31______
154,765
137,494
265,585
215,570
Norfolk & Portsm Trac.Aug
64,866
63,118
23,468
14,756
July 1 to Aug 31 _____
131,442
126,469
46,737
30,169
Paducah Trac & Lt C o..A ug
7,071
6,618
1,902
2,031
Pensacola Electric Co__ Aug
5,244
4,373
4,451
5,318
Jan 1 to Aug 31. ___
40,033
34,713
32,304
30,640
Puget Sound Electric Co. Aug
52,145
48,800
21,675
31,716
Jan 1 to Aug 31..........
406,322
373,708
35,414
30,7,37
Savannah Electric Co__ Aug
18,181
17,435
9
112
Jan 1 to Aug 31 ___
142,051
137,807
1,786
3,340
Seattle Electric Co__ -Aug
111,081
108,588
109,743
190,109
Tampa Electric Co____ Aug
5,959
4,595
19,317
15,070
Jan 1 to Aug 31_____
39,281
36,568
144,096
121,596
Twin City Rap Tran Co. Aug
140,112
140,251
222,221
238,332
Jan 1 to A ug'31 ........ 1,121,367 1,108,259 1,439,103 1,260,431
Whatcom Co Ry & Lt Aug
8,904
8,063
2,501
9,60.3
Jan 1 to Aug 31______
69,623
66,220
32,919
4 5,404
Roads.
x After rll -wlng for other Income received.
A N N U AL 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.
940
THE CHRONICLE
OPERATIONS, EARNINGS, &G.
1909-10.
1908-09.
1907-08.
1906-07.
9,916
Aver, mileage operated.
9,795
9,415
9,278
Equipment •—
Locom otives______ —
1,923
1,872
1,872
1,791
Passenger cars----------1,375
1,176
1,193
1,135
57,781
Freight cars----------------54,698
55,108
49,770
Miscellaneous cars_____
495
298
221
292
Operations—
Passengers carried____ 13,675,343 12,605,697 11,236,904 10,524,830
Pass, carried 1 mile___ 1236975839 1108004215 1028779780 969,651,318
Rate per pass, per mile. 2.056 cts.
2.052 cts.
2.104 cts.
2.183 cts.
Freight (tons) carried.. 19,448,590 17,220,597 16,610,912 16,979,395
Fgt.(tons) carr. 1 mile.a 7,012,896
6,203,257
6,260,173
Rate per ton per mile__
1.015 cts.
0.987 cts.
1.026 cts.
Av. rev. train load (tons)
354.97
388.80
366.06
Earn, per pass, train m .
$1.21
$1.17
$1.21
51.13
$2.84
Earn, per fgt. train mile
$3.05
$3.00
$2.93
$9,624
$9,625
Gross earnings per mile.
$10,588
---------'J
■i* Also June 30 1910 2 steam ferryboats, 1 river steamer, 3 tugs and 4 car
floats, a 000s omitted.
INCOME ACCOUNT.
1909-10.
1908-09.
Operating Revenues—
1907-08.
$71,194,056 $64,212,638 $61,848,639
25,437,182 22,734,505' 21,643,427
Passenger.. ________________
7,318,574
Mall, express and miscellaneous_____ 8,361,957
7,125,730
$104,993,195 $94,265,717 $90,617,796
Operating Expenses—
$t7,807,136 $12,884,407 $14,120,828
15,560,047 13,903,897 14,246,621
2,114,261
1,904,822
Traffic expenses___________________
1,796,264
Transportation expenses___________ 31,821,825 26,674,864 28,395,590
2,458,551
2,127,205
General expenses___________________
2,070,612
$69,761,820 $57,495,105 $60,629,915
(66.44)
(60.99)
P. c. oper. expenses to revenues------(66.91)
Net operating revenue.. _________ $35,231,375 $30,770,522 $29,987,881
3,015,219
T ax es__________________
________ 4,006,419
3,244,596
Operating Income------------ ----------- $31,224,956 $33,755,303 $26,743,285
$342,2471
Income from Investments---------------- $1,245,972
Interest, discount, &c--------------------- 1,304,083
816,128 J
671,974
Total Income------- -------- --------------- 33,775,011 84,013,678 27,415,259
Deduct—
Interest on bonds__________________ 511,984,151 $13 ,548,082 $12,579,302
Rentals of tracks, &c---------------------27,701
89,2301
Hire of equipment-------------------------- 1,292,720
770,826) 1,157,071
Advances to subsidiary companies—
44,655
87.549J
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 >6)5662607
158,230
81,378
Appropriation fuel reserve fund------703,218
340,332
Additions and betterments_________ 4,000,000
9 ,000,000
Total____________________________ $33,409,165 $34,515,157 $25,529,380
Balance, surplus___________________
$365,846
$398,521 $1,885,879
GENERAL BALANCE SHEET JUNE 30.
1909.
1908.
1910.
Assets—
$
$
$
Railroad, franchises, &c., Including
stocks, bonds, &c________________ 532,527,613 527,908,894 505,959,077
3,721,975 19,024,380
Expenditures for Improvements, &c_a23,386 064
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
750,396
Agents and conductors-----------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
313,677
Cash deposit for fuel reserve fund______________ 1,016,916
155,427
Total assets_____________________ 648,063,358 595,703,801 572,163,452
LiabilitiesC om m on stock--------------------------------- 165,518,500
Preferred stock outstanding------------- 114,173,730
Funded debt (s c c "R y . & Ind” Sec.) .302,004,953
Equipment depreciation fund_______ 6,363,722
Equipment reconstruction reserve
446,029'
Rail renewal fund__________________
918,866
Bridge renewal fund________________
______
Tie renewal fund___________________
482,815
Fuel reserve fund__________________ 1,016,916
Accrued taxes not yet due__________
1,856,292
Interest accrued not yet due________ 3,554,424
Coupons not presented_____________
622,500
Pay-rolls___________________________ 3,544,621
Dividend on preferred Aug. 1_______ 2,854,345
Audited vouchers____________
7,256,159
Traffic balances____________________
1,271,840
Miscellaneous accounts payable------- 2,664,921
Prior accounts In liquidation_______
______
Expenditures for add’ns & betterm’ts 13,280,921
Reserve for additions & betterments.
______
Profit and loss account (surplus)___ 20,231,804
121,559,500 102,956,500
114,173,730 114,173,730
311,218,820 315,454,421
181,617
234,066
887,043
1,489,374
1,150,063
120,328
264,680
95,388
831,013
313,677
155,427
1,614,237
1,494,139
3,700,731
3,845,314
678,365
309,262
3,107,502
2,717,631
2,854,345
2,854,345
3,117,236
3,119,555
1,266,055
982,253
1,501,681
1,220,506
50,000
4,000',6o6
5,000,000
18,821,251
20,352,865
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 oil 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.)
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.
1910___________
1909___________
1908---------- . . .
ROLLING STOCK JUNE 30.
Locomotives. Pass. Cars. Freight Cars. Miscellaneous.
202
86
6,536
872
208
87
6,908
688
210
89
7.148
694
STATEMENT FOR YEARS ENDING JUNE 30.
1909-10.
1908-09.
1907-08.
1906-07.
Miles operated-----------827
827
827
827
Operations—
Gross earnings per mile.
$11,074
$10,103
$10,170
$10,548
Net earnings per m ile__
$3,814
$3,944
$3,509
•Tons carrlcct- 3,620,047
3,095,274
2,968,145
3,135,712
•Tons carried one mile . .996,940,502 889,119,698 927,699,200 097,916,269
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. l-ec. per rev. tr. mile
$2.63806
$2.65040
$2.29652
$2.31937
Rev; train load, t o n s ...
361.47
353.67
317.75
331.76
Rev. passengers carried- 1,860,020
1,644,918
1,557,058
1,509,035
Rev. pass, carried 1 mile 61,220,129 57,743,041 56,851,140 56,436,653
Avge. per pass, per mile 2.360 cts. 2.289 cts.
2.315 cts.
2.377 cts.
• Revenue freight only.
[V O L . L X X X X I .
Gross Receipts—
Mail, express, &c.
Operating Expenses—
INCOME ACCOUNT.
1909-10.
$7,226,739
1,430,114
937,799
$9,594,652
1908-09.
$6,638,420
1,306,079
827,466
$8,771,965
1007-08.
$6,692,308
1,302,738
762,872
$8,757,918
$1,047,348
1,195,699
3,346,463
319,957
359,117
$6,268,085
$3,326,067
(65.33)
94,453
$3,420,520
$960,600
1,006,698
2,779,583
271,593
331,581
$5,350,006
$3,421,909
(60.99)
97,813
$3,519,722
$889,448
1,214,166
3,084,62 9
208,520
303,490
$5,760,259
$2,997,659
(65.77)
134,609
$3,132,268
$343,773
1,209,042
23,518
57,420
$322,279
900,000
21,689
06,600
255,000
77,498
$283,138
900,000
15,825
75,780
249,273
Cr. 5,020
Transportation expenses___________
Traffic expenses___________________
General expenses___________________
.
Per cent of expenses to earnings.
Interest, discount, rents, &c___
Net Incom e_________________
Deduct1—
Rents, & c ________________________
Interest on equipment notes________
Interest on collateral gold notes____
Hire of equipment_________________
Adjustment of current accounts____
Dividend on preferred stock, 4 % __
~232~088
63,258
•840,000
•840.000
*84b",000
$2,483,060 $2,358,996
$773,272
$651,421 $1,036,655
• Charged against profit and loss account but here deducted from In
come account.
OPERA TIONS OF S UBSID. PRO PERTIES OPERA TED SEP A RA TEL Y .
Gross. Nct(over tax). Int.,&c. Balance.
Arkansas West. R y._ .1909-10..$62,139
$21,520 ' $36,028 d cf.$14,508
36,209 def. 13,998
do
do
1908-09.. 61,634
22,211
6,000 sur. 2,498
K. C. Sh. & Gulf Ter. .1909-10.. 27,330
8,498
do
do
1908-09.. 26,184
6,563
6,000 sur.
563
Pt.Arth. Can. & D ock.1909-10.. 39,758 dcf.23,094
50.000 def. 73,694
50.000 def. 54,211
do
do
1908-09.. 41,612 def.4,211
BALANCE SHEET JUNE 30.
1910.
1909.
1909.
1910.
Assets—
$
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 Itef. & 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 & supplies 848,482
797,310 Unpaid coupons.. 279,582
147,589
Loans on collateral
233,595
Accrued Interest.. 232,290
security______ 1,711,004 ......... . Traffic balances..
165,871
183,227
Bills receivable...
55,140
990,841 1,151,620
178,665 Pay-rolls, &c____
Traffic balances.. 340,629
93,677
329,626 Bills payable____
64,492
Individuals & cos. 463,857
154,455
389,387 Taxes, not duo__
174,725
U. 8. Government
10,003
10,009 Renewal and re
Wells F.&Co.Exp.
31,002
140,818
462,963
28,293
serve funds___
Investments In and
Pref. dlv. payable
advances to pro
210,000
July 15_______
210,000
prietary cos___ 1,829,105 1,289,550 Miscellaneous___
94,105
180,257
Miscellaneous___
187,861
159,830 Profit and loss___ 4,087,844 3,863,209
Total assets___ 98,702,076 99,133,084
T o t. lia b ilitie s..98,702,076 99,133,084
In clu d e s in 1910 c o s t o f p ro p e rtie s, $ 8 1 ,0 7 7 ,7 2 8 , a n d im p ro v e m e n ts an d
r e h a b ilita tio n , $ 1 0 ,4 5 8 ,5 8 9 , less va lu e o f e q u ip m e n t, bu ild in gs a n d tra ck s
d e s tr o y e d o r a b a n d o n e d , w h ic h , less s a lv a g e , has be e n ch arged t o o p e r a tin g
e x p e n se s, $ 65 0,18 5; a n d also less c re d it o f $20 9 ,1 0 0 t o e q u ip m e n t fro m
renew al an d reserve fu n d s.
frT h e item o f cash In 1910, $ 2 ,3 5 6 ,3 5 5 , includ es reserve f o r d iv id e n d ,
$ 21 0,00 0; reserve fo r c o u p o n s u n p a id , $ 27 9,58 1; a v a ila b le fo r o th e r p u r
poses, $ 1 ,8 6 6 ,7 7 4 .— V . 90. p . 167.
'
a
L o u is v ille
(R e p o r t f o r
F is c a l
&
N a s h v ille
Y ea r
e n d in g
R a ilr o a d .
J u n e
30
1 9 1 0 .)
T h e a n n u a l re p o r t o f th e B o a rd o f D ir e c to r s (M r . H . W a l
t e r s , C h a ir m a n , a n d M r . M . H . S m i t h , P r e s i d e n t ) is g i v e n
a t le n g t h o n s u b s e q u e n t p a g e s ; a ls o th e in c o m e a c c o u n t a n d
b a la n c e s h e e t.
T h e l a t t e r i s m a d e u p in t h e f o r m p r e s c r i b e d
b y th e I n t e r -S t a t e C o m m e r c e C o m m is s io n .
T h e c la s s ific a
t io n o f a c c o u n t s b e in g a t v a r ia n c e w it h
th e a c c o u n tin g
m e t h o d s h e r e to fo r e u se d b y th e c o m p a n y , th e c o m p a r is o n
o f i t e m s in t h e b a l a n c e s h e e t w it h t h o s e o f p r e v i o u s y e a r s is
r e n d e r e d im p r a c tic a b le .
T h e s t a t is t ic s fo r th r e e y e a r s h a v e b e e n c o m p ile d f o r th e
“ C h r o n ic le " as b e lo w :
R O AD
A N D IE Q U IP M E N T .
190 9-1 0.
190 8-0 9.
190 7-0 8.
A v e ra g e m iles o p e r a te d ........ ...................
4,554
4,393
4,348
E q u ip m e n t—
L o c o m o t i v e s __________________________
928
, 899
896
P a ssen ger ca rs_________________________
590
573
572
F re ig h t, & c ., ca rs_____________________
4 3 ,019
4 1,720
4 0 ,5 8 9
R o a d w a y c a r s ___________________
1,4 2 9
1,421
1,503
O p e r a tio n s —
Passen gers c a rrie d ___________________
1 1 ,0 3 0 ,0 2 7 1 0 ,1 1 2 ,2 4 6 10,641,341
Passengers carried o n e m ile ___________ 4 7 7 ,0 5 0 ,9 4 0 4 3 3 ,6 8 4 ,0 6 6 ' 4 4 5 ,1 5 1 ,3 3 0
R a te p er passenger per m ile _________
2.263 cts.
2 .3 2 0 cts.
2 .3 7 9 c ts .
F reigh t (tons) c a rrie d __________________ 3 0 ,1 5 5 ,2 1 7 2 4 ,4 0 3 ,9 5 2
23 ,2 5 6 ,5 0 2
F reigh t (ton s) carried o n e m ile _______ 511 9038899 425 5981335 402 0348694
R a te per to n per m ile ________________
0.751 cts.
0.763 cts.
0.7 7 9 c ts .
A v era ge tra in -lo a d (reven u e) t o n s . . .
278
263
234
E arn ings p e r reven u e pass, train m ile
$1.3050
$1.2855
$1.3473
E arn ings per reven u e fg h t. train m ile
$2.0895
$2.0054
$1.8207
G ross earnings p e r m ile ______________
$11,513
$10 ,340
$10,263
E A R N IN G S
A N D
E X PE N S E S .
E a r n in g s fr o m —
1909-10.
190 8-0 9.
1907-08.
F reight ________________________________ $38 ,4 2 1 ,7 7 0 $ 3 2 ,4 0 5 ,0 6 9 $31 ,334,041
P a ss e n g e rs_____________________________ 10,796,998
1 0 ,0 6 2 ,5 3 5
10,590,948
M ail_______ ______________________•_...........
865 ,966
8 54 ,800
831,530
E x p r e s s ________________________
1 ,4 04,205
1 ,2 0 7 ,7 6 7
1,124,056
M iscella n eou s__________________________
039 ,434
8 34 ,820
738,806
T o ta l gross ea rn in gs.....................
$ 52 ,433 ,38 2 $ 45 ,425 ,80 1 $44,620,281
O p e r a tin g E x p e n e s —
M ain ten an ce o f w a y , & c _______________ $8 ,1 7 2 ,1 6 6
$ 5 ,2 5 7 ,0 3 8
$6,291,109
M aintenance o f e q u ip m e n t.................... 8 ,5 5 9 ,1 0 4
7,83 2 ,0 2 1
9 ,0 2 0 ,1 2 7
T ra n sp o rta tio n e x p e n s e s -------------------- 16,030,238
14,58 7 ,7 7 3
16,19 6 ,6 8 5
T r a ffic e x p e n s e s______________________
1 ,1 2 0 ,5 1 6
999 ,655
1,056,279
G en eral_________________________________
1,10 3 ,5 5 4
051,012
1,030,001
O p eratin g ex p e n se s, e x c lu d . ta x e s .$ 3 4 ,9 8 5 ,5 7 9 $29 ,6 2 7 ,4 9 9 $33 ,594 ,20 1
P e r ce n t o p e r . expen ses to e a r n in g s ..
(66.72)
(65.22)
(7 5 .2 9 )
N et ea rn in gs-----------------------------------------$ 1 7 ,447 ,80 3 $15 ,798 ,39 2 $11 ,025 ,90 0
IN C O M E
ACCO U N T.
R e ceip ts—
1909-10.
100 8-0 9.
1007-08.
N e t e a rn in g s___________________________$ 1 7 ,447 ,80 3 $15 ,7 9 8 ,3 0 2 $11 ,0 2 5 ,9 9 0
O utside o p e ra tio n s ( n e t ) -------------------121,232
d e f .7 5,555
43,061
T a x e s ........................................
$ 1 7 ,560 ,03 5 $ 1 5 ,7 2 2 ,8 3 7 $11,069,051
1,602,632
1,437,992
1,393,760
O p e ra tin g In co m e ...................................$15 ,966 ,40 3 $14 ,2 8 4 ,8 4 5
In c o m e fro m ln v e s t’ ts, rents & m ls c .
1,733,363
1,30 5 ,1 2 4
$9,675,291
1,277,607
T o ta l In co m e .............................................$17 ,699 ,76 6 $ 1 5 ,6 7 0 ,9 6 0 $10 ,952 ,89 8
THE CHRONICLE
O o t . 8 1910.
Disbursements—
19 0 0 -10 .
I n t e r e s t o n b o n d s ____
______
$ 6 ,0 8 8 ,9 1 9
N . & D . R I 1 . r e n t .........................
__
1 1 8 ,0 0 1
O t h e r r e n t s __________ ____
. _ _____
2 8 9 ,3 3 1
S i n k i n g f u n d ----------------------------------2 6 6 ,2 4 0
G e n e r a l I n t e r e s t ________________ ______
_______
T o S . & N . A ________________
5 2 3 ,9 5 9
___
_______
R e se rv e fo r d o u b tfu l a c c o u n ts
D i v i d e n d s . _______
( 7 ) 4 ,2 0 0 ,0 0 0
19 0 8 -0 9 .
19 0 7-0 8 .
$ 5 ,9 9 5 ,0 1 3 $ 5 ,8 8 2 ,2 5 2
1 1 8 ,0 6 1
1 1 8 ,0 6 1
3 0 3 ,2 5 5
2 3 5 ,8 7 4
2 0 4 ,3 0 2
2 5 1 ,7 9 2
. . . . . .
9 ,733
4 1 1 ,4 0 3 C r .1 0 3 ,4 1 0
4 3 .6 7 6
* 3 ,3 0 0 ,0 0 0
* 3 ,3 0 0 ,0 0 0
T o ta l d is b u r s e m e n ts . . .
$ 1 1 ,4 8 6 ,5 1 0
B a l a n e e , s u r p l u s ................ ................................... $ 0 , 2 1 3 , 2 5 0
$ 1 0 ,3 9 2 ,0 3 4
$ 5 ,2 8 7 ,9 3 5
*
Increases Aggregating $ 7 , 1 4 1 , 1 8 9 .
C o n v e r t i b l e d e b e n t u r e s ( 6 s o f J a n . 1 5 1 9 0 8 , $ 1 , 4 3 0 , 2 5 0 ; 3 'As o f
J a n . 1 1 9 0 6 , $ 5 7 5 ) ----------------------------------------------------------------------------------$ 1 , 4 3 0 , 8 2 5
■ l-o d e b e n t u r e s o f F a r m i n g t o n S t r e e t R y . C o . a s s u m e d __________
3 0 ,0 0 0
S u n d r y n o t e s p a y a b l e ______________________ ______ _______ __________ 5 , 6 8 0 , 3 0 4
Total Net Decreases (Including Old Colony R R .) , $ 4 , 1 9 5 , 3 2 7 .
N e t d e c r e a s e N . Y . N . I I . & H . R R . C o ................... ..................................... . . $ 2 , 2 8 3 , 3 2 7
k ° h d s R 0 s to n C lin to n F it c h b u r g & N e w B e d fo r d
( O l d C o l o n y R R ) p a i d __________________________________________
1 ,9 1 2 ,0 0 0
$ 9 ,7 3 7 ,9 7 4
$ 1 ,2 1 4 ,9 2 4
ab , o v c in c r e a s e o f $ 5 ,6 8 0 ,3 6 4 In “ s u n d r y n o t e s p a y a b l e , " $ 1 ,5 0 0 ,
0 0 0 h a v e b e e n p a i d s i n c e J u n e 3 0 1 9 1 0 ; o f t h e b a l a n c e , a l l b u t $ 1 0 0 ,0 0 0
Is o w e d t o . a n d Is h e l d b y , s u b o r d i n a t e c o m p a n i e s t h e w h o l e c a p i t a l s t o c k
o f w h i c h Is h e l d In t h e t r e a s u r y o f y o u r c o m p a n y .
T h e $ 0 0 ,0 0 0 1 s t M . 5 %
b o n d s o f t h e M ilfo r d & W o o n s o c k e t
R R . Co
w h ic h m a t u r e d D e c . 1 1 9 0 8 a n d t h e $ 1 0 ,0 0 0 1 s t M . 0 % b o n d s o f t h e M il
fo rd F r a n k lin & P r o v id e n c e R R . C o .
w h ic h m a t u r e d J a n . 1 19 0 9
have
b e e n r e p l a c e d b y n e w 4 % b o n d s , w h i c h a r e h e l d In o u r t r e a s u r y .
Boston Railroad Holding Co. — I n t h e l a s t a n n u a l r e p o r t r e f e r e n c e w a s
m a d e to t h e o r g a n iz a t io n o f t h e B o s to n R a ilr o a d H o ld in g C o . a n d to t h e
a g r e e m e n ts b y y o u r c o m p a n y to p u r c h a s e a ll t h e s t o c k a n d b o n d s o f t h e
h o ld in g c o m p a n y t h a t w ill b e Issu e d fo r p a y m e n t o f B o s to n & M a in e R R .
sto ck .
P u r s u a n t to s u c h a g r e e m e n ts th is c o m p a n y h a s p u r c h a s e d a n d n o w
h o ld s 3 1 .0 0 0 s h a r e s o f s t o c k ( t h e e n t ir e c a p i t a l ) a n d $ 2 0 ,0 1 2 ,0 0 0 , f a c e
v a l u e , o f 4 o -lO - y c a r d e b e n t u r e s o f t h e h o l d i n g c o m p a n y ( t h e e n t i r e In c Ic ^ l e,‘ on e ,SrS ) 3 « T h e B o s t o n R a i l r o a d H o l d i n g C o . ( V . 9 1 . p . 1 5 3 ; V . 9 0 ,
P i o 1 r i , ' ’ 8 9 , f ) ‘ ,1 6 1 > o v v n s 6 , 5 4 3 p r e f . s h a r e s o u t o f a t o t a l o f 3 1 , 4 9 8 a n d
153,571 c o m m o n s h a r e s o u t o f a t o t a l o f 2 8 8 , 4 1 3 o f t h e c a p i t a l s t o c k o f t h e
B o s to n & M a in e R R .
5 1 4 % .— V . 9 1 , p . 5 1 8 . 3 9 7 .
N e w
Y o r k
N e w
(R e p o r t f o r F i s c a l
P r e s id e n t
19 10 ,
w ro te
C h a r le s
in
8 .
H a v e n
&
H a rtfo rd
H it.
Y e a r e n d in g J u n e 3 0
M e llo n ,
N ew
H a v e n ,
1 0 1 0 .)
C o n n .,
S e p t.
941
10
su b s ta n c e :
General Results.— T h e t o t a l o p e r a t i n g r e v e n u e f o r t h e y e a r i s t h e l a r g e s t
n t h e h i s t o r y o f t h e c o m p a n y , e x c e e d i n g t h a t o f 19 0 9 b y $ 6 ,3 4 6 ,0 3 6 , o r
1 1 2 - 3 % : t h e o p e r a t i n g e x p e n s e s I n c r e a s e d $ 2 ,6 0 8 ,9 0 9 , o r T M % , a n d t a x e s
in c r e a s e d $ 5 3 7 ,2 5 1 , o r 1 5 . 3 % , o f w h ic h t h e F e d e r a l C o r p o r a t io n T a x c o n
t r ib u t e d $ 1 3 2 ,3 7 0 .
Improvements, & c .— T h e c o n s t r u c t i o n o f s i x t r a c k s o n t h e H a r l e m R i v e r
& P o r t C h e s t e r R R . Is c o m p l e t e d .
T h e I n s t a lla tio n o f a n a u t o m a t i c s ig n a l
s y s t e m Is I n p r o g r e s s .
T h e c o n s t r u c t io n o f d o u b le t r a c k b e t w e e n H a w le y v l l l e & R o t s f o r d Is u n d e r w a y .
E lim in a t io n o f g r a d e c r o s s in g s a n d c h a n g e
o f lin e f o r a b o u t o n e m ile a t B r o o k fie ld J u n c t i o n s h o u ld b e c o m p le t e d b y
t h e e t id o f t h e y e a r .
A ll w o r k in c o n n e c t io n w it h t h e N e w H a v e n c u t a n d
t r o l l e y v i a d u c t h a s b e e n c o m p l e t e d a n d t h e n e w f a c i l i t i e s a r c In o p e r a t i o n .
T h e I m p r o v e m e n t s in a n d n e a r W a t e r b u r y a r e c o m p l e t e d .
D o u b le tra c k
W a t e r b u r y t o B r i s t o l , Is a b o u t 7 5 % c o m p l e t e ; s o a l s o is t h e t u n n e l a t T e r r y v llle .
S t o n e b a l l a s t i n g f r o m N i a n l l c , C o n n . , t o B a c k B a y Is p r o g r e s s i n g
s a t is fa c t o r ily : a b o u t 1 5 m ile s h a v e b e e n c o m p le t e d .
S e c o n d t r a c k , W a lp o le
t o S o u t h F r a m i n g h a m , I n c lu d in g d o u b le - t r a c k a g e w y e a t M e d flc ld J u n c t i o n
a n d ;a u t o m a t I c s ig n a ls , w ill b e c o m p le t e d b y t h e e n d o f t h e p r e s e n t y e a r .
G r a d e c r o s s in g s e lim in a t e d :
C o n n e c t ic u t , 3 0 ; .M a s s a c h u s e t t s . 2 .
,
Square Real Estate Trust.— A c o n v e y a n c e h a s b e e n m a d e o f t h e
P a r k S q u a r e S ta tio n p r o p e r ty , B o s to n , to th e P a r k S q u a r e R e a l E s ta t e
I r u s t f o r o 2 ,0 0 0 s h a r e s o f i t s c a p i t a l s t o c k ( V . 8 9 , p . 1 2 8 1 ) .
OUl Colony RR. — T h e c a p i t a l s t o c k o f t h e O l d C o l o n y R R . C o . h a s b e e n
I n c r e a s e d d u r i n g t h e y e a r b y t h e s a l e o f 9 ,8 5 0 s h a r e s , t h e p r o c e e d s o f w h ic h
w e r e u se d to p a y o n J a n . 1 1 9 1 0 t h e m a t u r in g B o s to n C lin to n F it c h b u r g &
N e w B e d fo rd 1st M . 5 s.
( V . 8 9 , p . 1 5 9 7 , 1 2 2 4 .)
Maturing Obligations.— T h e r e w i l l m a t u r e b e t w e e n O c t . 1 1 9 1 0 a n d O c t . 1
1 9 1 1 $ 4 , 3 7 6 , o 0 0 o b l i g a t i o n s f o r w h i c h t h i s c o m p a n y Is r e s p o n s i b l e , v i z . :
W o o n s o c k e t & P a s c o a g R R . 1 s t M . 5 s , 8 1 0 0 .0 0 0 , O c t . 1 1 9 1 0 , a n d
F a r m i n g t o n S t . R y . C o . d e b e n t u r e s . $ 3 0 ,0 0 0 ( c a l l e d ) , J a n . 1 ’ l l $ 1 3 0 ,0 0 0
F o u r - y e a r d e b e n t u r e s , $ 1 ,3 5 0 ,0 0 0 , J a n . 1 1 9 1 1 ; 4 % o n c - y e a r n o t e s ,
Additions and Betterments, Aggregating {Net) $ 4 , 1 9 7 , 0 7 1 .
C h a r g e d t o : C o s t o f p r o p e r t y , $ 1 ,1 7 7 ,2 6 4 : e q u ip m e n t , $ 1 ,9 5 3 ,4 7 6 ; r e p l a c e
m e n t f u n d , $ 1 ,0 6 0 ,3 3 0 .)
R e a l e s t a t e ( $ 6 2 ,6 4 0 ) , n e w b r id g e s ( $ 5 5 ,1 9 4 ) a n d s i d i n g s ( $ 2 5 ,3 8 3 ) $ 1 4 3 2 1 7
8 5 ,0 0 0
S e c o n d tr a c k . W e s te rn d iv is io n . —
------------------. . .
._
<524 3 3 0
O n Jan . 1 1911 there w ill b e c o m e e ffe c tiv e th e rig h t o f th e h o ld e rs o f th e
I m p r o v e m e n ts a t P r o v id e n c e , W o o n s o c k e t, N e w H a v e n , W a te r ’
$ 30 ,000 ,00 0 3 Vt% c o n v e r tib le d e b e n tu re ce rtifica te s o f th e Issue o f Jan 1
......... ............ .
3 3 7 481
b u r y a n d W a l l i n g f o r d ......................... ..
1906 to e x ch a n g e such certifica tes fo r c a p ita l s to c k o f th e c o m p a n y In th e
E l e c t r if ic a t io n W o o d la v v n - S ta m fo r d ( $ 8 5 ,2 7 9 ); p o w e r p la n t s a n d
p r o p o r tio n o f $150 fa ce v a lu e o f ce rtifica te s fo r o n e share o f s to c k - If th e en
p o w e r t r a n s m i s s i o n ( $ 4 0 , 0 7 6 ) -------------------------------------- ----------------------1 2 5 ,3 5 4
tire
issue is e x c h a n g e d , $ 2 0 ,0 0 0 ,0 0 0 c a p . s tk . will be su b stitu te d th e refor
N la n tlc , C o n n .,- B o s t o n b a lla s t in g .
. ___________________ ______ __
159 373
N ew S to ck .— T h e sto ck h o ld e rs o n O ct. 27 1909 au th o riz e d an increase hi
.
. . . ________ _ _ ............ " I l l
2321310
E lim in a t io n g r a d e c r o s s in g s .
th e ca p ita l s to c k b y th e a d d itio n o f 500,000 shares o f $100 e a ch .
Your
S u n d r y a d d i t i o n s a n d b e t t e r m e n t s . _ . ___________
__
"
390 340
board o f d ire cto rs v o te d to Issue 4 5 4 ,6 9 5 a d d itio n a l shares an d to o ffe r to
L e s s r e a l e s t a t e a n d o t h e r p r o p e r t y s o l d ________________ $ 8 3 5 , 6 4 4
’
s to ck h o ld e rs an d th e holders o f c o n v e r tib le d e b e n tu re s the right to s u b s crib e
N e w e q u ip m e n t : 2 l o c o m o t i v e s (1 e l e c t r i c ) , 2 ,4 0 8 b o x c a r s , 2 9
at $125 a share.
S u b scrip tio n s w ere re ce iv e d fo r 446 ,4 3 8 new shares, and
o t h e r c a r s , 2 e l e c t r i c - w r e c k i n g c r a n e s , & c ......................
.3 ,0 1 9 ,8 0 6
th ere has been paid in to the treasu ry to Ju n e 30 1910 on th e first Installm ent
Electrification to New Haven .— T h e r e h a s b e e n c o m p l e t e d 6 ,0 0 0 f e e t o f
(d u e D e c. 20 1909) $ 1 3 ,9 5 1 ,1 8 7 ;o n th e se co n d Installm ent Ju n e 20 1910
f o u r a n d s i x - t r a c k s i n g l e - p h a s e e l e c t r i f i c a t i o n In t h e v i c i n i t y o f G l e n b r o o l c ,
$ 1 3 ,7 2 2 ,9 6 9 ; in a d v a n c e o n a c c o u n t o f th e th ird In stallm en t, d u e D e c. 20
Conn.
W e h a v e r e c e iv e d o n e o f t h e t w o e le c tr ic fr e ig h t lo c o m o tiv e s d e
1910, $ 3 ,7 8 4 ,0 9 3 ; In a d v a n c e o n a c c o u n t o f th e fo u rth In stallm en t, d u e
s ig n e d t o h a n d le f r e ig h t t r a in s b e t w e e n H a r le m R i v e r a n d N e w H a v e n o r
Ju n e 20 1911, $ 3 ,2 8 2 ,9 6 9 — a total o f $ 3 4 ,7 4 1 ,2 1 9 .
W h en th e final install
h e a v y p a s s e n g e r tr a in s b e tw e e n G ra n d C e n tr a l S t a t io n a n d N e w H a v e n .
m
e n t Is paid Ju n e 20 1911 th e c o m p a n y ’ s capital s to ck w ill be increased
S u r v e y s h a v e b e e n c o m p le t e d f o r t h e e le c t r if ic a t io n o f t h e m a in lin e a n d
b y th e a d d itio n o f these n ew shares.
(V . 89, p . 1142, 1223: V . 90, p . 1045.)
y a r d s o n th e I la r le m R iv e r B r a n c h ; a ls o fo r th e e le c tr ific a tio n o f th e m a in
B alan ce S h eet.— T h e form o f general b a la n ce sheet an d e x h ib its s u p p o rtin g
lin e b e t w e e n S t a m f o r d a n d N e w H a v e n .
Maintenance. — T h c r o h a v e b e e n l a i d i n t h e m a i n t r a c k s 1 3 , 1 7 1 t o n s o f sa m e h a v e been ch a n g e d fro m th a t o f p re v io u s years to h a rm o n iz e w ith
th e term s p re scrib e d b y th e In te r -S ta te C o m m e rce C om m ission .
1 0 0 - lb . r a il; a ls o 7 ,9 0 5 t o n s o f 8 0 , 7 8 , 7 4 , 68 a n d r e - r o lle d 9 0 -lb . r a i ls .
11
ayes.— S e r i o u s a d v a n c e s I n t h e w a g e s p a i d t o e m p l o y e e s w e r e g r a n t e d N ew G uaranties. [F ro m fo o t-n o t e s to b a lan ce sh e e t, in a d d itio n to gu a r
a n t y o f 4 % d iv id e n d s o n p re f. s to e k o f th e N ew E n gla n d I n v e s tm e n t & Se
In t h e l a s t q u a r t e r o f t h e f i s c a l y e a r e n d i n g J u n o 3 0 1 9 1 0 , w h i c h a d v a n c e s
c u r ity C o ., $ 4 ,0 0 0 ,0 0 0 , and p a y m e n t o f p rin cipa l a t 105% on liq u id a tion 1
d id n o t b e c o m e e f f e c t iv e t o a n y g r e a t e x t e n t u n t il t h e b e g in n in g o f t h e
I h o c o m p a n y “ gu aran tees th e p a y m e n t o f p rin cip a l. $ 3 ,0 0 0 ,0 0 0 an d inter
p r e s e n t fis c a l y e a r , J u l y 1 1 9 1 0 .
B a sed u p o n th e sam o n u m b er o f e m
est o f th e N ew E n gla n d In v e s tm e n t & S e c u r ity C o. 1 5-year fu n d in g gold
p l o y e e s w o r k i n g t h e s a m o t i m e a s In t h i s p a s t y e a r , t h e s e a d v a n c e s a g g r e
n otes d a te d A p ril 1 1909; also gu aran tees th e p a y m e n t o f an a d d itio n a l 513 g a t e a s b e lo w , v iz .:
M a in t e n a n c e d e p a r t m e n t , $ 1 6 2 ,9 0 0 ; g e n e r a l o f f ic e
250 ,000 and Interest o f N ew E n gla n d I n v e s tm e n t & S e c u r ity Co 15-yea’r
c l e r k s , $ 5 8 ,5 0 0 ; o p e r a t i n g d e p a r t m e n t , $ 1 , 5 3 6 ,1 0 6 ; t o t a l , $ 1 , 7 5 7 , 5 0 6 .
fu n d in g g o ld n otes d ated A p ril 1 1909 w-hen req u ested to d o so b y 'J o h n L
New Tariffs .— I t w a s I m p o s s i b l e t o c o n t i n u e t h e b u s i n e s s o f t h e c o m p a n y
B lllard , as per c o n t r a c t .”
o n t h e b a s i s o f t h e t a r l l l s h e r e t o f o r e In c l f e c t a n d p a y t h e s e I n c r e a s e d w a g e s ,
T h e c o m p a n y gu aran tees th e p a y m e n t o f p rin cip a l an d Interest o f th e
a n d c h a n g e s w e r e m a d e In o u r p a s s e n g e r t a r i f i s t o b e c o m e e i r e c t l v e a s s o o n
4 % 5 0 -ye a r " fir s t and refu n d in g m o r tg a g e ” g o ld b o n d s o f th e N ew Y o r k &
a s p o s s ib le u n d e r e x is t in g la w s , s u b s t a n t i a lly a s b e lo w :
S ta m fo rd R y . C o ., d a te d N o v . 1 1908, to t h e a m o u n t o f $27 4 ,0 0 0 .
Increase in
T a riffs— Total
increase. Gross,
$ 1 ,0 5 8 ,7 5 3 ;
Net,
$ 8 5 8 ,7 5 3 .
T e n c e n ts a d v a n c e b e tw e e n N e w Y o r k , P r o v id e n c e a n d B o s to n ,
-------$ 1 0 9 , 8 6 9
b y r a i l ( M a y 1 1 9 1 0 ) ----------------------------- ---------------------------------------S a m e b y N e w E n g la n d N a v ig a tio n C o . (M a y 1 19 10 )
8 0 ,9 6 3
F i v e c e n t s In a n d o u t o f N e w Y o r k , o n e - w a y f a r e s ( J u n e 4 1 9 1 0 ,
In te r-S ta te ; J u ly 1 19 10 , In tra -S ta te) .
_
_
225 2 16
F iv e c e n ts b e t w e e n H a r tfo r d a n d S p r in g fie ld ( J u n e 4 1 9 10 )
"
37 417
F iv e c e n ts p e r t r ip “ f a m ily 5 0 - tr lp t ic k e t s ” ( J u ly 1 19 10 )
3 1 ,6 6 2
C o m m u t a t i o n t o & f r o m N . Y . & p o in t s In N . Y . S t a t e ( J u ly 1 1 9 1 0 ) 1 1 8 ,3 9 0
C o m m u ta tio n b e t w e e n N . Y ; & I n t e r - S t a t e p o in ts ( J u n e 4 19 10 )
1 0 2 ,4 6 6
B e tw e e n N e w I l a v c n , N . Y . , B r i d g e p o r t , b o a t lin e s , 2 5 c . a n d 1 0 c
( J u n e 4 1 9 1 0 ) . ------------------------------------------------------------------- -------- -------I
2 6 ,5 0 2
I n c r e a s e f r o m 2 t o 2 M a n d 2 )4c. p e r m i l e c e r t a i n l e a n l i n e s
( J u l y 2 3 1 9 1 0 ) --------- -------------------------------- -------------------------- -- _ 3 0 5 , 6 9 2
2 0 ,5 1 6
M i s c e l l a n e o u s , in e f f e c t J u n e 4 1 9 1 0 .................................... .................. . . .........
S h r i n k a g e d u e t o I n c r e a s e d u s e o f m i l e a g e t i c k e t s , 2 0 % , s a v , $ 2 0 0 ,0 0 0
T h e a b o v e in c r e a s e s s h o u ld c o v e r a b o u t 5 0 % - o f t h e lo s s o c c a s io n e d b y
t h e a d v a n c e s in w a g e s a b o v e r e f e r r e d t o , l e a v i n g t h e b a la n c e t o b e o v e r
c o m e b y s u c h I n c r e a s e d p r o p o r t io n s a s w ill a c c r u e f r o m t h e a d v a n c e s in
t h r o u g h f r e i l i t r a t e s o n c o n n .x - t ln g r o a d s ’ b u s in e s s , w h ic h a d v a n c e s h a v e
b e e n s u s p e n d e d b y t h e I n t e r - S t a t e C o m m e r c e C o m m is s io n p e n d in g in v e s t i
g a t io n r e g a r d in g t h e r e a s o n a b le n e s s o f t lie s a m e .
I t Is b e l i e v e d s u c h
a d v a n c e s w ill u lt i m a t e l y b e a l l o w e d , t h o u g h a f t e r c o n s id e r a b le d e la y .
Dividend Prospects.— - T h e a b o v e a d v a n c e s , w i t h e c o n o m i e s i n o p e r a t i o n ,
s h o u ld e n a b le t h e c o m p a n y to m a in ta in s u b s t a n t ia lly t h e s a m e n e t r e s u lt
a s h e r e t o f o r e a n d p a y trio u s u a l r a t e o f d i v i d e n d u p o n it s s t o c k .
Mergers:— A p p r o v a l o f t h e M a s s . R a i l r o a d C o m m i s s i o n t o t h e m e r g e r o f
t h is c o m p a n y w it h t h e N e w H a v e n & N o r th a m p to n C o ., B e r k s h ir e l t U . C o .
a n d R h o d e I s la n d & M a ss . R R . C o . h a s b e e n g iv e n , a n d th e c o n s e n t o f th e
s t o c k h o ld e r s w ill b e a s k e d t o t h e a p p r o v a l o f t h e s e m e r g e r s a t t h e a n n u a l
m e e tin g .
A ll o f th e s e ro a d s h a v e fo r m a n y y e a r s b e e n o p e r a te d b y th is
c o m p a n y , a n i l In t h e c a s e o f t h e N e w H a v e n & N o r t h a m p t o n a n d R h o d e
I s l a n d & M a s s a c h u s e t t s a l l t h e c a p i t a l s t o c k o f s a i d c o m p a n i e s Is h e l d In o u r
tre a su ry .
I n th e c a s e o f th e B e r k s h ir e R R . C o . a v e r y la r g e p e r c e n ta g e
o f t h e c a p i t a l s t o c k Is h e l d i n o u r t r e a s u r y .
A n e n a b lin g A c t h a s b e e n o b t a in e d fr o m t h e G e n e r a l C o u r t o f M a s s a c h u
s e t t s a u t h o r iz in g t h e p u r c h a s e o f t h e M ilfo r d & W o o n s o c k e t R R . C o . a n d
t h e M ilfo r d F r a n k lin * P r o v id e n c e R R . C o ., a ll t h e c a p it a l s t o c k a n d in
d e b t e d n e s s o f w h i c h c o m p a n i e s a r e h e l d i n o u r t r e a s u r y , a n d I t is e x p e c t e d
t h e m e r g e r s w ill b e c o m p le t e d b e fo r e D e c . 3 1 1 9 1 0 , t h u s f u r t h e r in g o u r
p o lic y o f c o n s o lid a t in g a s f a s t a s p r a c t ic a b le In to o n e c o m p a n y a ll t h e r a i l
r o a d s o w n e d , o p e r a te d o r c o n t r o lle d .
T h e F a r m in g to n S t r e e t R y . C o . w a s m e r g e d a n d its o b lig a t io n s a s s u m e d
o n D e c . 10 19 0 9 .
\ o u r c o m p a n y h a s a c c e p te d t h e p r o v is io n s o f th e A c t
o f 19 10 o f t h e G e n e r a l C o u r t o f M a s s a c h u s e tts a u th o r iz in g th e o w n e rs h ip
o f th e c a p it a l s t o c k o f B e r k s h ir e S t . R y . C o ., a n d to d a t e h a s a c q u ir e d b y
p u r c h a s e 1 9 ,3 6 5 S h a r e s o u t o f a t o t a l o f 1 9 ,4 8 1 s h a r e s .
Capital Stock. - T h e r e h a s b e e n n o I n c r e a s e d u r i n g t h e y e a r In t h e c a p i t a l
s t o c k I s s u e d , b u t t h e a m o u n t o f s t o c k o u t s t a n d i n g in t h e h a n d s o f o t h e r s
th a n c o m p a n ie s c o n tr o l cd b y y o u r c o m p a n y h a s b e e n In c r e a s e d b y th e
s a le o f 5 5 ,6 0 0 s n a r e s , t i l e p r o c e e d s o f w h ic h w e r e u s e d t o a c o u l r e o t h e r
p ro p e rty .
I h e r e s t i l l r e m a i n In t h e t r e a s u r i e s o f s u b o r d i n a t e c o m p a n i e s
1 7 4 ,4 2 5 s h a r e s .
1
Indebtedness. — T h e o u t s t a n d i n g I n d e b t e d n e s s o f t h e c o m p a n y a n d i t s
l e a s e d l i n e s In t h e h a n d s o f t h e p u b l i c h a s b e e n d e c r e a s e d $ 4 , 1 9 5 ', 3 2 7 ( n e t )
d u r in g t h e y e a r to t h e a m o u n t o f a s fo llo w s :
Decreases Aggregating 5 9 , 4 2 4 , 5 1 7 .
S h o r e B i n e R y . C o . 1 s t M . 4 J i s ( $ 2 0 0 ,0 0 0 ) a n d H o u s a t o n l c R R .
.......................... ... . .
. . . _________ - $ 3 0 0 ,0 0 0
C o . 1 s t M . Is ( $ 1 0 0 ,0 0 0 ) p a id
5 % d e b e n t u r e s p a i d ( 3 - y c a r 3 3 , 5 1 0 , 0 0 0 , 2 - y e a r 5 1 0 , 0 0 0 ) _________3 , 5 5 0 , 0 0 0
H a r t f o r d S t . R y . C o . 4 % d e b e n t u r e s , s e r i e s “ N ” p a i d ____________
1 4 5 ,0 0 0
C o n s o lid a t e d R y . C o . d e b e n t u r e s p u r c h a s e d a n d c a n c e le d _ ,
___
2 6 6 ,0 0 0
1 % 1 - y c a r n o te s , M a r c h 16 1 9 1 0 , p a id .
....... .................................
......... 5 , 1 5 0 , 0 0 0
M i s c e l l a n e o u s .......................
1 3 ,5 1 7
O P E R A T IO N S A N D F IS C A L R E S U L T S .
M iles op e ra te d Ju n e 30
E q u ip m en t—
L o c o m o t i v e s ____________
Passenger c a r s __________
F reigh t c a r s _____________
O th e r
. . .
19 0 9 -10 .
2 ,0 4 2
19 0 8 -0 9 .
2 ,0 4 4
1907-08.
2,047
. . .
. . .
1 ,2 2 0
2 ,5 2 2
1 ,2 2 8
2 ,4 3 7
3 4 ,1 8 4
1 .2 1 3
1,236
2,356
29,821
1,034
c a r s ______________
1 ,1 7 9
5 a n d fr e ig h t o n ly .
. . . 8 2 ,9 0 5 ,1 3 7
7 5 .9 5 7 ,9 8 3
...1 5 0 6 9 0 7 9 9 0
14 0 1652 8 79
1 .6 3 0 c t s .
. . . 2 2 ;7 3 8 ,0 8 1
1 9 ,9 6 8 ,2 7 2
- . .2 1 2 4 6 8 0 9 6 5
18 72 419 42 3
R a te p er to n per m ile ------------------- . . .
1 .4 1 7 c ts .
1 .4 2 0 c t s .
P ass, earnings p er m ile o f r o a d . . . . .
$ 1 4 ,5 3 8
$ 1 2 ,8 8 7
Pass. earnings per train m ile ------ . . .
$ 1 .8 5
$ 1 .7 4
$ 1 4 ,9 8 8
F reight earnings p er m ile o f road . . .
$ 1 3 ,0 2 1
..
$ 4 .1 6
F reigh t earnings per train m ile . .
$ 3 .8 5
96
A v e ra g e N o . passenger train m ile s. .
93
A v e ra g e N o. ton s train m ile .
. .
293
271
E a m in g s —
s
$
. . . 2 9 ,0 0 5 ,8 9 0
P assen ger d e p a rtm e n t_______
2 6 ,3 2 3 ,4 6 9
F reigh t d e p a rtm e n t..................
. . . 3 0 ,1 1 0 ,5 8 8
2 6 ,5 9 5 ,9 7 0
M is c e lla n e o u s .._____ _________
...
1 ,5 7 7 ,1 8 9
1 ,4 2 8 ,1 9 2
...
6 0 ,6 9 3 ,6 6 8
5 4 ,3 4 7 ,6 3 1
5 3 ,0 5 0 ,1 4 7
.
.
.
.
7 .1 3 2 ,3 7 6
6 .4 6 1 ,7 7 2
3 5 0 ,9 4 3
2 2 ,9 4 2 ,6 7 5
1 ,8 0 1 ,4 5 0
6 ,1 3 0 ,6 0 6
5 ,9 0 6 ,3 5 7
3 0 9 ,0 0 0
2 2 ,4 9 1 ,3 7 6
1 ,2 4 2 ,9 6 8
5 ,9 8 3 ,8 2 6
6 ,9 1 3 ,1 6 9
311 ,225
2 3,625,504
1,379,834
.3 8 ,6 8 9 ,2 1 6
i—
( 6 3 .7 4 )
3 6 ,0 8 0 ,3 0 7
( 6 6 .3 8 )
1 8 ,2 6 7 ,3 2 4
1 ,2 1 4 ,3 0 7
E x p en ses—
M ain ten an ce o f w a y . <5cc__________ .
G eneral
T o ta l.
7 5 ,5 5 5 ,9 6 9
1399700539
1.643 cts.
18,851,844
1787661842
1.414 cts.
$12 ,837
$1.06
$12 ,350
$3.43
89
243
S
2 6,279,301
2 5 ,2 8 1 ,4 3 5
1,489,411
..
..
..
..
N et r e v . fro m o u ts id e o p e ra tio n s .
N et earnings steam sh ip lin e s _______
N et C o n n e cticu t Co _______________ . . .
a 2 , 2 5 4 ,2 7 8
3 ,6 4 4 ,3 1 5
3 8 ,2 1 3 ,5 5 8
(72.03)
14,836,590
/1 ,2 1 2 ,0 8 9
\ 498,674
2 ,745,758
...
...
2 5 ,5 6 7 ,2 0 0
3 ,9 8 3 ,3 7 7
2 3 ,1 2 5 ,9 4 6
3 ,4 4 6 ,1 2 6
19,293,111
3 ,3 3 8 ,3 0 6
-.
..
.
..
. .
2 1 ,5 8 3 ,8 2 3
3 ,5 0 4 ,5 6 9
8 8 7 ,1 0 4
2 ,0 1 2 ,2 9 4
3 3 2 ,1 2 5
1 ,0 5 5
1 9 ,6 7 9 ,8 2 0
1 ,9 5 9 ,3 3 3
6 7 4 ,4 3 3
1 .6 0 9 ,5 8 1
3 5 0 ,1 4 2
......................
15,9 5 4 ,8 0 5
8 9 4 ,7 0 0
714,991
1 ,889,002
363 ,4 5 8
..
2 8 ,3 2 0 ,9 7 0
Taxes . -
In terest o n b o n d s .
R e n ts r e c e iv e d ____
H ire o f e q u ip m e n t.
1 ,3 0 8 ,4 7 0
D educt—
In terest on b o n d s, d e b e n tu re s, & c ___ 1 0,677,459
R e n ta ls o f leased lin es_______,_________
5 ,1 3 3 ,7 1 7
R en ta ls o th e r th an a b o v e ----------------1,702,430
H ire o f e q u ip m e n t -___________________
____
% o n s t o c k ..................... ........................... 69,759,081
M is c e lla n e o u s __________________
10,490
2 4 .2 7 3 .3 0 9
19,816,956
1 0,424,932
3,0 5 6 ,2 9 4
1,978,281
460 ,4 3 0
7 ,8 8 3 ,8 4 2
23,143
7,5 5 6 ,0 4 5
4 .5 8 1 ,1 8 2
1 ,784,299
628,861
7 ,7 8 3 ,2 6 2
T o t a l .......... .............................
27,2 8 3 ,1 7 7
B a lan ce fo r y e a r . . ________ ___________ s u r l ,037,793
2 4 ,7 2 6 ,9 2 2 2 2 ,3 3 3 ,6 4 9
d e f4 5 3 ,6 1 3 d cf2 ,5 1 6 ,6 9 3
8
a E arn ings o f C o n n e cticu t C o. fro m J u ly 1 1909 to F e b . 28 1910.
eludes d iv id e n d s N os. 1 an d 2 on p a rt-p a id s to c k , $ 44 0,39 5.
6 In -
THE CHRONICLE
<)42
E \ R X I X G S O F .C O N T R O L L E D C O M P A N I E S — Y E A R S E N D . J U X E 3 0 .
( 1 ) Central New England Railway.
Pal.
Gross
Net
O t h e r -----------Deductions--------------Revenue. Revenue.
Inc.
Taxes.
Rents. A ll Int.
Sur
Fiscal
$
$
.$
$
$
$
5
Year—
3 ,0 2 2 ,7 2 0 1 ,2 8 0 ,4 8 8
19 0 9 -10 -.
2 ,5 3 0 ,2 1 3
9 3 1 ,0 3 0
1 9 0 8 - 0 9 ..
“ R e n t a l s ” in 1 9 0 9 - 1 0 i n c l u d e
$ 9 5 , 6 6 9 In 1 9 0 8 - 0 9 .
6 3 ,1 8 0 1 0 4 ,8 7 5 2 1 6 ,4 9 6 6 1 6 ,4 2 2 4 1 4 ,8 8 1
5 6 ,8 4 9
7 7 , 0 1 7 2 1 4 ,4 9 0 5 7 6 ,3 0 7 1 2 0 ,0 6 o
" H i r e o f e q u ip m e n t ,” $ 1 0 4 ,9 7 3 , a g a in s t
— New Eng. Nav. C o .— - — -H. &
O p e r a t in g
19 0 9 -10 .
$ 1 ,2 1 0 ,6 4 5
9 3 1 ,7 0 8
19 0 8 -0 9 .
$ 1 ,0 8 7 ,1 0 6
8 1 4 ,7 2 8
$ 8 2 2 ,7 4 5
2 ,4 3 0 ,6 9 9
$ 8 9 0 ,4 4 5
9 1 0 ,8 9 6
$ 2 7 8 ,9 3 7
$ 2 7 2 ,3 7 8
4 0 ,5 4 1
. . .
_.
& c.
$ 3 ,2 5 3 ,4 4 4
$ 9 5 ,1 0 5
1 ,5 3 9 ,5 6 6
$ 1 ,8 0 1 ,3 4 1
$ 5 5 ,8 2 5
1 ,0 4 8 ,6 9 0
$ 2 7 8 ,9 3 7
$ 1 5 ,9 6 2
1 1 ,5 6 5
2 8 ,3 8 7
$ 3 1 2 ,9 1 9
$ 1 1 ,5 6 7
2 0 ,4 1 2
1 ,4 6 6
i ..
$ 1 ,6 3 4 ,6 7 1
$ 1 ,6 1 8 ,7 7 3
$ 1 ,1 0 4 ,5 1 5
$ 6 9 6 ,8 2 6
$ 5 5 ,9 1 4
$ 2 2 3 ,0 2 3
$ 3 3 ,4 4 5
$ 2 7 9 ,4 7 4
.
e x p e n s e s ____
in c o m e ..
T o ta l in c o m e ..
Deduct— T a x e s . .
M is c e lla n e o u s
(3 )
Trolley
Y . T. C o . —
19 0 8 -0 9 .
$ 4 ,9 4 4 ,8 2 5
4 ,0 5 4 ,3 8 1
. . .
O th e r
N.
19 0 9 -10 .
$ 5 ,0 4 4 ,7 3 7
4 ,2 2 1 ,9 9 2
Steamship Cos.- —
(2)
C o s .—
Connecticut Ctmpany and Rhode Island Company.
T T h e R h o d e I s l a n d C o . o p e r a t e s t h e t r o l l e y lin e s c o n t r o ll e d In R h o d e
Is la n d ;
see
P r o v i d e n c e S e c u r i t ie s C o . in “ E l e c t r i c R a i l w a y
S e c tio n .
T h e C o n n e c t ic u t C o m p a n y ( w h o lly o w n e d ) o p e r a te s u n d e r c o n t r a c t a ll th e
s tr e e t r a ilw a y s
e l e c t r i c - l i g h t i n g a n d w a t e r - s u p p l y c o m p a n ie s In C o n n e c t i
cu t o w n e K
c o n tro U e d K b y th e N
Y . N . H . & H a r t f o r d U R , C o .; s e e
C o n s o l id a t e d R a i l w a y in “ E l e c t r i c R a i l w a y S e c t i o n . J
— Rhode Island C o .—
------ Connecticut C o .—
19 0 9 -10 .
19 0 8 -0 9 .
19 0 8 -0 9 .
Earnings —
-1 9 0 9 -„ 1 0 .
$ 3 ,8 7 6 ,7 4 6
$ 4 ,1 3 6 ,2 8 5
$ 6 ,4 1 6 ,3 3 8
P a s s e n g e r ------------------------- $ 6 , 7 7 a , 4 4 o
1 7 2 ,8 9 4
1 8 7 ,7 2 9
2 3 3 ,7 0 2
2
8
2
,
0
6
1
M a ll, e x p r e s s , & c .
1 1 ,9 9 8
1 3 ,6 5 5
2 8 ,4 2 8
2 7 ,4 3 0
C h a r t c r e d c a r s __________
5 6 ,0 7 6
5 7 ,5 3 8
3 9 ,7 7 8
4
6
,
9
2
6
S a l e o f p o w e r ____________
6
2
,
1
1
6
4
9
,
1
4
8
P a r k e a r n i n g s __________
1 6 ,8 4 6
1 6 ,4 7 7
2 9 ,6 8 7
2 2 ,8 6 7
A d v e r t i s i n g --------------------2 6 ,2 2 5
2 9 ,1 2 5
1 ,1 7 8 ,7 8 2
£ 7 4 0 ,4 3 6
M ls c ., in c h g a s , I t. & w a t e r
T o t a l e a r n i n g s --------------
$ 7 ,9 4 4 ,3 1 3
$ 7 ,9 8 8 ,8 3 1
$ 4 ,4 4 0 ,8 0 9
$ 4 ,1 6 0 ,7 8 5
$ 3 ,6 4 4 ,3 1 5
$ 5 7 3 ,5 6 5
$ 4 6 9 ,2 0 7
Operating expenses—
M a ln t. o f w a y & s t r u c t s .
M a ln t. o f e q u ip m e n t ....
O p e r a tio n o f p o w e r p la n ts
O p e r a t i o n o f c a r s -----------G e n e r a l e x p e n s e s -----------M is c e lla n e o u s e x p e n s e s .
$ 8 3 4 ,0 4 8
5 1 8 .7 2 5
7 8 4 ,o90
1 ,7 3 5 ,5 4 9
r' 0 '
T o ta l o p er. expen ses
N e t e a r n in g s —
................
O th e r In co m e
T o t a l I n c o m e ---------------- $ 3 , ) 9 9 , I;!5S
T a x e s , r e n t a l s , & c _____
3 2 6 ,2 0 2
N e t s u r p lu s
I n c o m e . . l / $ 2 , 8 7 3 .0 8 6
x T h e o p e r a tio n s o f th e G a s L ig h t & W a te r C o . d e p a r tm e n ts fro m M c h . 1
1 9 1 0 a r c I n c lu d e d in t h e I n c o m e a c c o u n t o f t h e H o u s a t o n l c 1 o w e r C o .
y N o t I n c o m e to F e b . 28 1 9 1 0 , a m o u n t in g to $ 2 ,2 o 4 ,2 7 9 , p a id o v e r to
^ [ T h e " n e t I n c o m e ” o f t h e R h o d e I s l a n d C o . ( $ 5 7 3 , 5 6 5 I n 1 9 0 9 - 1 0 ) , I t Is
u n d e r s t o o d , i s I n c l u d e d In o n e o r m o r e o f t h e i t e m s o f
o th e r In co m e
In
H ie s t a t e m e n t o f N . Y . H . I I . & H . R R . a b o v e .
T h e n e t e a r n in g s o f t h e
" C o n n e c t i c u t C o m p a n y ” f r o m J u l y 1 9 0 9 t o F e b . 2 8 1 9 1 0 o n l y ( $ 2 2 .)4 2 7 0 )
a p p e a r a s a s e p a r a t e it e m in t h e g e n e r a l I n c o m e a c c o u n t a b o v e , w h ile t h e
fn te r e s t a n d o th e r c h a r g e s o f th e C o n n e c tic u t t r o lle y
^
c o n ip a n le s , In
c lu d in g th e $ 1 ,0 3 9 ,1 6 7 p a id a s r e n t a l to t h e C o n n e c t ic u t R y .
L t g . n o .,
a r e I n c lu d e d in t h e l lx c d c h a r g e s o f t h e p a r e n t c o m p a n y .]
Ilousatonic Power Co.
O p e r a t i n g r e v e n u e _________ $ 3 6 3 , 0 1 2 1 I n t e r e s t , r e n t a l s , & c .............. . $ 1 4 4 , 1 3 J
_____ 2 4 6 , 7 9 0 B a l a n c e , s u r p l u s --------- -1 0 2 ,6 0 I
T o ta l n e t In co m e
1 In c lu d e s o p e r a tio n s fro m M c h . 1 19 10 o f G a s L ig h t & W a te r d e p a r tm e n ts ,
fo r m e r ly o p e r a te d b y t h e C o n n e c t ic u t C o . (se e a b o v e ) .
(1)
Securities oj Proprietary, AJJiliated and Controlled Companies.
June 3 0 1 9 0 9 -------P a r Value'. Booh Value.
[V O L . L X X X X I .
BALAN CE SH EET JU N E 30.
[ O w i n g t o c h a n g e in f o r m o f b a l a n c e s h e e t , c o m p a r i s o n s w i t h m a n y i t e m s
in e a r l i e r y e a r s a r e i n a c c u r a t e , e s p e c i a l l y p r o p e r t y a c c o u n t s . ]
19 0 8 .
1910 .
19 0 9 .
S
ssets—
3
3
2 4 6 ,3 0 8 ,4 6 5
R o a d a n d e q u i p m e n t . ........ « 1 7 4 , 6 9 6 , 0 9 3 2 0 7 , 4 5 3 , 3 1 4
S e c u r itie s o f p r o p r ie ta r y , & e ., co s .
.1 4 6 ,1 4 6 ,6 2 1 }
( t a b l e N o . 1 a b o v e ) ____ ____
A d v a n c e s to p r o p r ie ta r y , & e ., c o s . .
1 ,1 6 1 ,6 7 2 }
6 8 ,6 2 6 ,1 7 8
M ls c e ll. I n v e s t s , ( t a b l e N o . 2 ) ._
___ 6 3 , 5 0 4 , 8 5 7 } 1 0 7 , 4 9 8 , 9 6 7
S e c u r s . in t r e a s u r y ( t a b l e N o . 3 ) . .
.
2 1 1 ,7 1 5 1
M a r k e t a b l e s e c u r s . ( t a b i c N o . 4 ) ------- 2 9 , 5 6 5 , 2 0 5 J
R e a l e s ta te , P a rk S q u a re , B o s to n , an d
5 ,2 1 0 ,0 0 0 '
S o u t h S t r e e t , N . Y . , h e ld f o r s a l e . .
---------------5 ,1 6 9 ,7 5 2
A d v a n c e s t o le a s e d lin e s n o t c o n t r o l ’ d ,
3 ,8 4 3 ,5 2 3
fo r im p r o v e m e n ts a n d b e t te r m e n t s .
---------------2 ,6 5 9 ,5 2 7
4 ,5 9 5 ,1 7 1
3 ,4 6 1 ,2 0 8
3 ,4 0 6 ,9 1 1
M a t e r i a l a n d s u p p l i e s ____ . . - - - —
2 ,0 1 9 ,4 5 0
2 ,2 4 8 ,7 7 0
2 ,1 1 1 ,8 0 2
A g e n t s a n d c o n d u c t o r s ___ _
____
3 2 5 ,3 3 5 .
T r a f f i c b a l a n c e s _______________
____
4
,3 4 0 ,9 5 6
1
0
,
3
6
1
,
8
2
7
9
7
0
,
8
4
3
]
A c c r u e d In te re st, d iv id e n d s & r e n ts .
4 ,5 8 8 ,5 1 8 ]
M i s c e l l a n e o u s a c c o u n t s ________ ______
6 ,5 5 3 ,7 8 2 '
1 9 ,9 1 3 ,1 5 8
1 0 ,7 9 8
B ills r e c e iv a b le
1 9 ,5 7 1 ,7 4 2
C a s h i n b a n k s a n d o n h a n d _________ 1 1 8 , 0 9 9 , 0 4 1 ( 1 6 , 6 6 2 , 3 2 1
3 ,5 8 1 ,5 3 7
4 . 1 7 7 , 6 15
.
C a s h f o r in t e r e s t a n d d i v i d e n d s . .
1 ,1 8 8 ,5 9 9
1 ,1 0 3 ,7 0 3
1 ,4 5 5 ,4 0 8
I n s u r a n c e f u n d ___________
8 0 0 ,6 3 6
2 7 5 ,3 4 4
A c c i d e n t a n d c a s u a l t y f u n d ____ ______
5 2 3 ,1 1 9
R iv e r & P o rt
D e p o s it f o r H a r le m
C h e s t e r l l r s t m o r t g a g e b o n d s -----------N . H . & N o r th . C o . s in k , fu n d ( c o s t) .
O t h e r s i n k i n g , & c . , f u n d s -------------------P r e p a id in s u r a n c e , r e n t a ls , & c
— T e m p o r a r y a d v a n c e s & w o r k in g fu n d s
O th e r d e fe r r e d d e b it it e m s - - - - - - - —
2 4 7 ,5 2 0
9 3 5 ,1 7 2
2 5 5 ,8 1 4
9 4 ,3 5 5
2 2 9 ,8 4 0
3 5 3 ,2 9 7
1 4 ,1 0 5
4 4 1 ,5 0 9
8 7 ,9 9 2
1 ,3 5 2 ,7 4 2
2 ,0 0 8 ,4 2 4
T o t a l a s s e t s _________________________4 ° 0 7 6 4 , 3 7 7 3 8 1 , 4 0 0 , 3 5 3 3 6 8 , 4 9 8 , 2 3 5 .
Liabilities—
9 7 ,8 9 5 ,7 0 0 '
C a p i t a l s t o c k ______________
1 4 4 0 1 7 , 4 2 5 1 0 0 ,0 0 0 ,0 0 0
P r e m i u m o n c a p i t a l s t o c k s o l d ------------ 2 0 , 6 3 0 , 7 2 0
1
7
5
,
8
9
8
,
8
7
5
1
7
3 ,5 9 5 ,7 5 0
3
8
0
,0
0
0
D c b e n s ., & c ., in c l. m e r g e d r 'd s a s s u ’d 1 7 3
5 8 ,9 6 1 ,0 0 0
5 6 ,8 4 9 ,0 0 0
B o n d e d d e b t , I n c l . m e r g e d r ’ d s a s s u ’ d 5 8 , 66 1,000
---------------2 3 ,5 0 0
1 1 ,5 0 0
R e a l e s t a t e m o r t g a g e s _______________
__
2 ,1 0 8 ,0 0 0
B o n d e d d e b t c o n s tit u e n t c o m p a n ie s .
.
O b lig a tio n s fo r a d v a n c e s r e c e iv e d fo r
4 7 4 ,8 0 4
c o n s t r u c t i o n , & c ___________________
R e s e r v e fo r e q u ip m e n t a n d p e r s o n a l
7 ,6 3 0 ,4 8 2
1 1 ,4 5 5 ,9 8 5
p r o p e r t y h e l d u n d e r l e a s e s ---------------9 ,9 5 8 ,6 7 2
2 ,5 0 7 ,1 5 4
1 ,5 1 1 ,6 6 6
T r a f f i c , & c . , b a l a n c e s ----------------------------1 ,3 8 7 ,0 8 5
4 ,5 6 4 ,3 3 2
3 ,8 6 6 ,2 6 2
V o u c h e r s a n d w a g e s ______________ —
4 ,1 2 4 ,8 5 3
5 5 ,7 0 0
5 ,2 5 0 ,0 0 0
L o a n s a n d b i l l s p a y a b l e ------------------------5 ,7 8 0 ,3 6 4
3 3 3 ,4 2 1
1 3 5 ,7 8 5
M i s c e l l a n e o u s a c c o u n t s p a y a b l e --------5 ,8 9 9 ,8 2 0
6 ,8 3 0 3 2 1
I n t ., d lv s ., r e n ts , & c ., d u e & u n p a id .
4 ,5 0 0 ,6 8 5 1
A c c r u e d i n t . , d l v s . a n d r e n t s -------------2 ,8 8 5 , 8 2 6 j
5 8 7 ,5 6 1
8 3 8 ,7 4 5
M ls c e ll. r e s e r v e a n d s u s p e n s e a c c ’ t s . .
.
9 3 5 ,1 7 2
N . I t . & N o r t h . C o . s i n k i n g f u n d ------.
1 ,0 7 1 ,4 1 3 :
1,950 869
E q u i p m e n t r e p l a c e m e n t f u n d -------------D e f e r r e d c r e d i t I t e m s ---------------------- ------ b8 , 3 5 6 , 3 3 1
1 ,6 0 4 ,2 3 8
1 , 8 0 8 ,6 8 6
A p p r o p r i a t e d s u r p l u s ----------------------------- c2 2 6 3 , 0 7 3
1 2 ,8 6 0 ,4 9 0
1 2 ,9 9 9 ,4 4 3
P r o llt a n d lo s s a c c o u n t —
....................
14 1 9 6 ,2 5 3
T o ta l
l i a b i l i t i e s .............................................. . 4 5 0 , 7 6 4 , 3 7 7
3 8 1 ,4 0 0 ,3 5 3
3 6 8 ,4 9 8 ,2 3 5
a R oa d an d e q u ip m e n t In 1910 ($ 1 7 4 ,6 9 6 ,0 9 3 ) co n sists o f ro a d an d eq u ip
m e n t $ 1 7 0 ,2 2 2 ,4 5 0 ; llo a tln g e q u ip m e n t, street railw ays an d oth er p r o p
erties, $ 6 ,3 4 6 ,3 6 3 ; to ta l, $ 1 7 6 ,5 6 8 ,8 1 3 ; less $ 1 ,8 7 2 ,7 2 0 reserve fo r a ccru ed
d e p re cia tio n o f e q u ip m e n t, b D eferred cre d it Item s Inclu de a d v a n c e p a y
m ents o f third an d fo u rth Installm ents o f s u b scrip tio n s to n ew ca p ita l s t o c k ,
$ 7 ,0 6 7 ,0 6 3 , an d m iscella neous, $ 1 ,2 8 9 ,2 6 8 .
c A p p r o p r ia te d surplus In 1910
Includes C o n n e cticu t R y . & L ig h tin g C o. sin k in g fu n d , $284,.>46; Insurance
fu n d , $ 1 ,4 3 5 ,7 5 3 ; a c c id e n t an d ca s u a lty fu n d , $52 3 ,1 1 9 ; co a l insurance
fUIN o te .— Contingent Liabilities.— T h e fo llo w in g c o n tin g e n t liab ilities a r e
n o t in clu d ed In the b a lan ce sheet o f Ju n e 30 1910:
(1) J o in t lia b ility w ith o th e r road s fo r a n y d e ficie n cy o n fo re closu re o l
b o n d s o f the B o sto n T erm in al C o.
, , ,
. ..
„
,
„ . .
(2 ) G u a r a n t y t o p a y 4 % d i v i d e n d s o n p r e f e r r e d s t o c k o f t h e v S p i I n g i l e l a
R y . C o s ., $ 3 ,3 8 7 ,9 5 0 , a n d p r in c ip a l a t 10 5 o n liq u i d a t io n .
(3) G u aran ty to p a y 4 % d iv id e n d s o n p re fe rre d s to c k o f N e w E n g la n d
In v e s tm e n t & S e cu rity C o ., $ 4 ,0 0 0 ,0 0 0 , and p rin cip a l a t 10 a o n II q u 1 1o n ,
also prin cipa l and Interest o f the 15-year fu n d in g gold n otes dated- A p ril 1
1909, $3 ,0 0 0 ,0 0 0 , an d an a d d itio n a l $ 1 3 , 2 o 0 , 0 0 0 an d Interest o f the lastn am ed Issue o f n o te s w hen req u ested t o d o so b y J o h n L . B llla id , as p c i
COI(4 )a G u aran ty o f p rin cip a l an d Interest o f th e d e b e n tu re s o f th e P r o v l-
8 5o 6n ,.1i 0
R
o0
o
1 ,9 2 8 ,8 0 0
2 1 7 ,8 0 0
B e r k s h i r e R R . C o -----------B e r k s h ir e S t . R y . C o . . .
B os. & P ro v. R R . C o rp .
200,000
B o s t o n T e r m i n a l C o ------C e n t . N e w E n g . R y . C o .:
4 ,4 8 8 ,5 5 0
C o m m o n ...............................
P r e f e r r e d ______
3 ,4 7 1 ,0 1 ) 0
C o n n e c t i c u t C o m p a n y . . 4 0 ,0 0 0 ,0 0 0
H a r le m
R iv e r
& P o rt
C h e s t e r R R . C o _____
1 ,0 0 0 ,0 0 0
H a r le m
R iv e r
&
P o rt
C h e ste r R R . C o . n o te s
-- -- --- M i l l b r o o k C o --------- -, 1 0 0 .0 0 0
N . H . & N o rth a m . C o ..
2 ,4 6 0 ,0 0 0
N . Y . C o n n e ct. R R . C o .
1 , 5 0 0 ,0 0 0
do
do
n o te s
N . Y . O n t. & W e st. R y .
( $ 2 ,2 0 0 p r e f . ) ________ 2 9 , 1 6 2 , 2 0 0
N . Y . & S ta m . R y . C o ..
5 0 0 ,0 0 0
do
do
n o te s o r b d s .
---------------N Y . W c s t c . & B o s . R y . C o . 4 ,9 2 4 ,8 0 0
1 s t M . 5 % g o ld b o n d s . 1 5 ,1 0 0 ,0 0 0
N o r w lc h & W o r c . R R .C o .
O l d C o l o n y R R . C o ------7 ’Z ? ? ’ o a«
P r o v .& W o r c . R R . C o . .
R h o d e I s l a n d C o ________
9 ,6 8 o ,5 0 0
C ity & C o u n ty C o n tra c t
C o . n o t e s _____________
_________
W e s t c . S t . R R . a d v a n ’s
......................
M is c e lla n e o u s s t o c k s —
--T o ta l b o o k v a lu c .
$ 5 6 4 ,5 0 6
1 ,5 2 6 ,0 9 5
2 ,8 9 1 ,2 2 7
6 6 5 ,9 7 1
$ 6 5 0 ,0 0 0
8 1 6 ,0 0 0
$ 5 6 4 ,5 0 6
1 ,4 5 8 ,7 3 3
1 9 4 ,7 0 0
5 9 6 ,9 6 6
7 0 2 ,2 9 8
8 7 9 ,7 6 9
4 0 ,0 0 0 ,0 0 0
4 ,4 3 2 ,6 5 0
3 ,4 2 0 ,1 0 0
2 7 5 ,0 0 0
6 6 4 ,4 7 7
8 5 3 ,8 9 1
2 7 5 ,0 0 0
200,000
200,000
1,000,000
1,000,000
2 3 -? 5 $ » 2 5 „
0
l1n0Q9 , 5' 0ftft
9 8 4 ,0 0 0
1 ,5 2 7 ,2 0 4
4 9 1 ,2 9 2
1 3 ,1 0 8 ,3 9 8
6 1 0 ,6 4 3
2 9 0 ,0 3 1
5 ,9 2 0 ,0 9 5
1 5 ,1 0 0 ,0 0 0
1 5 8 ,2 3 0
9 ,2 9 9 ,9 8 3
9 1 2 ,4 2 0
2 4 ,2 2 0 ,9 7 9
100,000
2 .4 6 0 .0 0 0
1 . 5 0 0 .0 0 0
2 9 ,1 6 2 ,2 0 0
5 0 0 .0 0 0
2 7 4 .0 0 0
3 ,0 5 3 ,1 0 0
11,111
5 5 ,0 0 0
6 ,9 0 4 ,3 0 0
2 6 6 ,9 0 0
8 .5 1 0 ,4 0 0
1 0 9 ,5 0 0
9 8 4 ,0 0 0
1 ,5 2 7 ,2 0 4
5 8 1 ,6 6 3
..................................... $ 1 4 6 , 1 4 6 , 6 2 1
$ 5 5 ,9 5 7 ,0 0 5
$ 3 ,2 8 3 ,0 0 0
2 .5 0 0 .0 0 0
3 .2 5 0 .0 0 0
12,000,000
$ 3 ,5 1 9 ,9 5 5
2 .5 0 0 . 0 0 0
3 .2 5 0 .0 0 0
1 3 ,5 1 0 ,9 6 9
1 6 7 ,6 0 5
$ 2 2 ,9 4 8 ,5 2 9
T o t a l . .......................................................................... $ 6 3 , 5 0 4 , 8 5 7
Securities Issued or Assumed, Held in Treasury
2 0 1 ,7 0 0
(4 )
———— _ _ _
2 1 1 ,7 1 5
________ _
B en n . & N or. A d am s S t.
R y . n o t e s .........................................................
M i s c e l l a n e o u s ........................................................
$ 2 0 ,0 1 2 ,0 0 0
5 ,3 0 3 ,9 4 6
2 0 1 ,o93
5 0 0 ,0 0 0
2,o 9
6 ,3 6 8 ,1 2 3
1 9 0 .0 0 0
5 0 0 .0 0 0
1 ,1 6 4 ,5 0 0
4 ,6 3 3 ,7 3 1
1 9 9 ,5 0 0
5 0 0 ,0 0 0
4 0 5 ,9 9 2
4 5 0 ,0 0 0
4 5 0 ,5 0 0
1 0 9 ,0 9 3
to1>v
3^ -4 » »
1 9 7 ’78 a
Total....................................... $29,565,205
.......................
Marketable Securities.
B o s . R R . I I o l d . 4 % d e b s . $ 2 0 ,0 1 2 ,0 0 0
C o n t . N . E . R y . 5 % I n c 's .
7 ,0 3 7 ,4 4 2
1st M . 5s
________
1 9 2 ,0 0 0
P .& E . 1st M . 5 s . . . . .
5 0 0 ,0 0 0
N .D .& C . 6 % In co m e s
1 ,1 6 4 ,5 0 0
In g g o ld
2d
b o n d s o^ th e N ew
n u f;.
Y o tk
b o n d s o f H ,c H a r le m
The
p r in c ip a l o f
th ese
a
IH v cr
and
&
8 0 - y c a r f ir s t a n d r e f u n d
In te re st o f th e 4 %
P o r t C h e s te r R R .,
bonds,
d a te d
3 0 -y e a r
June
1
C o ^ fr u s te e m a tu rlty *
h 8 ( 9 )J° G i i a r ' i n t y 1 o f p r i n c i p a l , d i v i d e n d s a n d I n t e r e s t o n a n y c a p i t a l s t o c k ,
b o n d s , GnUo t e s
& c0 , S f t h e ? B o s t o n ; H U . H o l d i n g . ^
a c q u ir e d b y th e c o m -
nqntf inVinn f}w«tr ‘jllA.lI l)C SO1(1• Otl OUtl6 O0 l U10 lIK/ JN. I > IN. 11. & 11.
St. Louis Southwestern Railway.
{Report for Fiscal Year ending June 30 1910.)
President Edwin Gould, Sept. 15, wrote in substance:
Funded Debt.— T h e net Increase o f $220,563 In th e fu n d e d d e b t o f th e
system Is a c c o u n te d fo r as fo llo w s :
.
- rm
$900
First co n so lid a te d m o rtg a g e b o n d s lssu ed _(com p aro V . 90. p . 560) .
E q u ip m e n t trust o b lig a tio n s Issued— T o ja c q u lr e 1 oO ballast cars,
$ 18 6,32 2; to a cq u ire 16 lo co m o tiv e s an d 23 passenger train
6 4 6 ,3 2 2
cars, $46 0,00 0 (V . 90, p . 1364, 1491); t o t a l - -----t . , r,
Less a m o u n t o f e q u ip m e n t trust o b lig a tio n s paid
-, 1 0 .’o w as w ith
[T he Issue o f $722,000 e q u ip m e n t b o n d s d a te d Ja n . 1 l J i o w as w ith
dT e £ ;r a lCM a n s easV<ft Eastern
Miscellaneous Investments.
N .Y . P r o v .& B o s . R R .
g c n .M .4 s ( $ 2 0 1 ,0 0 0 ) ,e t c .
d a ( 7 ) ‘ G u a r a n t y o f ’p r f n c l p a ^ a n d I n t e r e s t o f t h e 4 %
5 0 -y e a r r e fu n d in g
N o r th a m p to n C o ..
held $ 3 ,1 0 6 ,5 0 0 s to c k o f th e B o s to n R R - H o ld in g C o. an d $ 2 0 ,0 1 2 ,0 0 0
4 % 5 0 -y ca r d e b e n tu re b o n d s d u e Nov.|19.>9.— V . 91, p. 871, 337 .
1 3 ,1 0 8 ,3 9 8
6 1 0 ,6 4 3
2 7 7 ,9 5 8
1 ,5 1 0 ,9 9 5
1 6 ,5 7 7
1 2 7 ,4 8 9
7 ,6 5 2 ,0 3 9
7 9 1 ,0 8 6
2 3 ,0 4 5 ,8 7 9
1 5 0 ,0 0 0
9 0 7 ,8 4 0
3 7 0 ,3 0 1
(2)
N otes
1,000,000
C d ) ^ G u a r a n t v ° o f° ° n r l n c lp a l a n d in t e r e s t o f t h e 4 %
c o n s o lid a t e d m t g e
fo ld b o n d s o f th e N ew H a v e n &
18 8 1.
B o s . R R . H o l d i n g C o . . . $ 3 ,1 0 6 ,5 0 0
$ 3 ,1 0 6 ,5 0 0
H a r t.& N .Y .T r a n s . C o
M . & M . T r a n s . C o ---------—
do
do
b o n d s ..
-------------5 4 ,5 1 0 ,9 6 9
N o w E n g . N a v . C o _____ 5 3 ,0 0 0 ,0 0 0
5 ,0 7 1 ,3 3 2
P a r k S q . R . E . t r u s t ____ 5 2 ,0 0 0 s h r s .
5 0 0 ,0 0 0
do
do
n o t e s ...................................
3 1 6 ,0 5 5
M i s c e l l a n e o u s ................ —
---------------- --------------------
(3)
200,000
l l C (5)C G u a r a n t y o f ' ^ p r i n c i p a l ' ’a n d I n t e r e s t o f g o l d d e b e n t u r e s o f t h e N e w
E n g l a n d N a v I g a U o n C o . In c a s e o f t e r m in a t i o n o f le a s e o f t h e O ld C o l o n y
$ 6 ,2 9 8 ,8 1 6
S u b je c t to r a t ific a tio n b y
o u r s t o c k h o l d e r s , c o n t r o l o f t h e C e n t r a l A r k a n s a s & p a s t e r n R R - C o . l ia s :
b e e n a c a u lr e d
th r o u g h a 3 0 -y c a r le a s e , d a te d J u ly i
u n d e r w h ic h
y o u r c o m p a n y is g i v e n t h e r i g h t a t a n y t i m e
g u a r a n t e e s t h e p r i n c i p a l a n d I n t e r e s t o f 1 s t M . *>/» J d y c a i g o l d o o n d s , t o h e
f s 's u e d a t $ 2 5 0 0 0 p e r m i l e o f m a i n t r a c k o r e x t e n s i o n s n o w o w n e d o r
iiA r o n ft p r c o n s t r u c t e d o r a c q u i r e d .
T h e c o m p a n y n o w h a s In o p e r a t i o n
9^4 m lc s o f r a ilr o a d
extending f r o m E n g l a n d , L o n o k e C o . , A r k . , t o M c CrrJnr a n d Is c o n s t r u c t i n g a n e x t e n s i o n f r o m M c G r e g o r t o S t u t t g a r t ,
f
li c s a n d f r o m a p o in t n e a r S t u t t g a r t n o r t h e r l y a b o u t 1 7 m ile s .
T l i e i i n e w i l l ' p u s s 1t h r o u g h
a *v 1r g I n t o r e s t
0 '
^ ^ ‘ la ^ ^ o o R
CUSteptlemdUe[ v o r t h ^ 6’ ” uth°'i'em s Railway Co. Purchase,— Y o u r c o m p a n y
has^ acaidred ow n ersh ip o f th e S te p h e n v llle N orth A Sou th T e x a s R y . Co
b v nlirchase o f all o f its c a p i t a l s to c k and guaran teein g th e p a y m e n t, b oth
as tn o r lfc ln a and ln te rcst, o f Its issue o f 1st M. 5 % 3 0 -y e a r g o ld b o n d s ,
not* e x c e e d ng $25 00 ) p er m ile o f m ain track o r exte n sio n s n o w o r here
a fte r c o f s tru cte d o r a c q u lr c d . T h a t c o m p a n y n o w o p e ra te s a lin e o f
m l l r o a d fro m S te p h e n v llle , E ra th C o ., T e x ., to H a m ilto n . H a m ilto n C o .,
Tex
12 61 miles aiul has u nd er c o n s tru ctio n e x te n sio n s from H a m ilton
tn G at e sv l l Ie n 1n C o r y ^‘11 C o ., T e x . (a b o u t 32 m iles), an d fro m H a m ilton t o
C o m t n ^ h f C o m a n ch e Co , T e x . (a b o u t 35 m iles).
A third e x te n s io n Is
a l ° s o ^ " c o n t c m p P a T e T f t o m S t e p h e n v l l l e t o T h u r b ® B r a t h ^ C o •• T e x - ( a l » u t
n d lo s )
w h i c h w i l l a f f o r d a c c e s s t o t h e c o a l H e ld s In t h a t v i c i n i t y ,
in e
i t e p h c n v i l i e l in e t r a v e r s e s a n e x c e p t i o n a l l y fin e a n d f e r t i l e o o u n t r y c o t t o n
a n d g r a i n b e i n g t h e p r i n c i p a l p r o d u c t s o f t h a t s e c t i o n ( V . 9 1 , p . 30 70
Proprietary Interest in Terminal IUI. Association oj iSt. Pouts. B y a n
a g r e e m e n t d a t e d M a y 2 4 1 9 1 0 , a p r o p r i e t a r y ln.t c ™ s t ' « J ^ e t e r m i n a l R a i l
r o a d A s s o c ia t io n o f S t . L o u is h a s b e e n a c q u i r e d , o n e - fi ft e e n t h o f Its c a p i t a l
s t o c k b e i n g v e s t e d I n y o u r c o m p a n y , t h e r e b y m a k i n g It a n e q u a l o w n e r
w it h t h e 14 o t h e r lin e s , m e m b e r s o t t h e A s s o c ia t io n .
W e h a v e a ls o ta k e n s t e p s to a c q u ir e s u ita b le p r o p e r t y a t
S t . L o u is o n
w h ic h to c o n s t r u c t a c o m m o d io u s f r e ig h t h o u s e , te a m t r a c k s , & c .
Charged OJJ.— T h e r u l e s p r e s c r i b e d b y t h e I n t e r - S t a t e C o m m e r c e C o m
m is s io n p r o v id e t h a t d ls c o u n t o n s e c u r itie s Is s u e d m a y b e c h a r g e d to in c o m e
a c c o u n t a n n u a ly d u r in g th e life o f th e s e c u r i t y , o r m a y b e c h a r g e d to
p r o l i t a n d l o s s a c c o u n t In a l u m p s u m .
Y o u r c o m p a n y h a s a c c o r d in g ly
c h a r g e d a l l d i s c o u n t o n f i r s t c o n s o l s s o l d s i n c e J u l y 1 1 0 0 7 , a m o u n t i n g , In
t h e a g g r e g a t e , t o S 7 2 2 , l . r>0, t o p r o f i t a n d l o s s d u r i n g t h e c u r r e n t f i s c a l y e a r .
T h e a m o u n t o f d is c o u n t o n b o n d s s o ld fr o m J u l y 1 1 9 0 7 t o J u n e 30 19 0 9
a m o u n t e d t o § 3 0 1 ,0 5 0 , a n d d u r i n g t h e c u r r e n t f is c a l y e a r § 4 2 0 ,5 0 0 .
Dividends on PreJ. Stock.— T a k i n g I n t o c o n s i d e r a t i o n t h e a c c u m u l a t e d
s u r p l u s , t h e n e t c o r p o r a t e I n c o m e f o r t h e y e a r a n d t h e s t e a d y g r o w t h In t h e
v o lu m e o f b u s in e s s o f y o u r p r o p e r t ie s , t h e b o a r d o f d ir e c t o r s d e c la r e d t w o
s e m i- a n n u a l d iv id e n d s , o f 2
e a c h , o n th e o u ts ta n d in g p r e f. c a p ita l
s to c k , p a y a b le o n J a n . 15 a n d J u ly 15 19 10 .
Vice-President and General
Sept. 1 1910, wrote in part:
Manager
F.
IT.
Britton,
Operating Revenues.— A c o n t i n u a t i o n o f t h e f a v o r a b l e b u s i n e s s c o n d i t i o n s
o f t h e p r e c e d i n g y e a r r e s u l t e d In a n I n c r e a s e In t o t a l o p e r a t i n g r e v e n u e s
f o r t h e fis c a l y e a r o f $ 6 5 4 ,6 2 7 , o r 6 .3 4 % .
T h is I n c r e a s e r e fle c t s t h e s t e a d y
d e v e lo p m e n t o f t h e t e r r it o r y t r a v e r s e d b y t h is lin e .
T h e I n c r e a s e In f r e i g h t r e v e n u e w a s $ 5 1 2 , 2 7 7 , o r 6 . 0 2 % .
On accou n t of
d r o u g h t a n d d e c r e a s e d a c r e a g e , t h e c o t t o n y i e l d In t h e S o u t h w e s t d u r i n g
t h e c u r r e n t y e a r w a s s o m e w h a t b e l o w n o r m a l , r e s u l t i n g In a d e c r e a s e In t h e
t o n n a g e o f t h a t c o m m o d it y o f a b o u t 3 0 % , w h ile th e m o v e m e n t o f lu m b e r
a n d Its p r o d u c t s a b o u t e q u a le d t h a t o f t h e p r e v io u s y e a r .
I r a d i c a l l y a ll
o th e r c la s s e s o f t r a ff ic s h o w s u b s ta n tia l g a in s .
, , ,
,
T h e r i c e I n d u s t r y In A r k a n s a s h a s c o n t i n u e d I t s w o n d e r f u l d e v e l o p m e n t
d u r in g t h e c u r r e n t y e a r .
A n a r e a o f a p p r o x i m a t e l y 6 0 ,0 0 0 a c r e s w a s
( ie v o te d to r ic e c u ltu r e , b e in g a n In c r e a s e o f m o re th a n 1 0 0 % o v e r t h e p r e
c e d in g y e a r .
T h e a c r e a g e o f c o r n In A r k a n s a s a n d L o u i s i a n a h a s b e e n
la r g e ly In cre a se d .
T h e f r u i t a n d e a r l y v e g e t a b l e c r o p s In E a s t e r n T e x a s
w e r e e x c e p t io n a lly la r g e a n d o f s u p e r io r q u a li t y , a n d t h e r e s u lts p r o v e t h a t
t h e T e x a s p e a c h c o n ic s to m a r k e t e a r ly e n o u g h .to a v o id c o m p e titio n w ith
th e fr u it fro m o th e r s e c tio n s .
. . . . . . .
Rate I.ifiliation. — T h e r a t e l i t i g a t i o n w i t h M i s s o u r i r e f e r r e d t o I n t h e l a s t
rep o rt (V
8 9 , p . 9 1 2 ) Is s t i l l p e n d i n g , t h e S t a t e h a v i n g c a r r i e d t h e c a s e t o
t h e U . S . S u p r e m e C o u r t f o r fin a l a d ju d ic a t io n .
T h e t e m p o r a r y r e s tr a in in g o r d e r Issu ed b y t h e U . S . C o u r t g r a n t in g
A r k a n s a s c a r r ie r s r e lie f fro m t h e f r e ig h t r a t e s p r o m u lg a te d b y t h e S t a t e
C o m m is s io n , a n d t h e m a x im u m 2 -c c n t p a s s e n g e r r a t e p r e s c r ib e d b y t h e
L e g i s l a t u r e , Is s t i l l In e f f e c t , p e n d i n g t h e f i n a l h e a r i n g .
E x h a u s tiv e te s ti
m o n y h a s b e e n t a k e n a n d I t Is b e l i e v e d a p e r m a n e n t o r d e r w i l l b e m a d e
b e fo r e t h e c lo s e o f 1 9 1 0 .
T h e lln a l d e c is io n , if a d v e r s e t o t h e c a r r ie r s ,
w ill n o t o n l y a f fe c t t h e ir f u t u r e r e v e n u e s , b u t s h o u ld r e p a r a t io n b e o r d e r e d
o n b u s in e s s h a n d le d s in c e t h e t e m p o r a r y I n ju n c t io n w a s g r a n t e d ( S e p t . 3
1 9 0 8 ), r e f u n d w ill h a v e t o b e m a d e a c c o r d in g ly .
Operating Expenses.— T h e i n c r e a s e o f 1 3 . 6 4 % In m a i n t e n a n c e o f w a y a n d
s t r u c t u r e s Is a c c o u n t e d f o r p r i n c i p a l l y b y c h a r g e s c o v e r i n g t h e m a i n t e n a n c e
p r o p o r t io n o f n e w a n d h e a v i e r r a i l a n d o t h e r m a t e r i a l p u t In t r a c k , o n 1 3 5
m ile s o f t r a c k , a n d t h e m a in t e n a n c e p r o p o r t io n o t a m o u n t s e x p e n d e d f o r
n e w s t e e l b r id g e s a n d g r a v c l- d c c k c r c o s o te d t r e s t le s o f I n c r e a s e d c a r r y in g
c a p a c it y , r e p la c in g o ld s t r u c t u r e s .
N o t w it h s t a n d in g th e I n c r e a s e o f 6 .3 4 %
I n o p e r a t i n g r e v e n u e s , t r a n s p o r t a t i o n e x p e n s e s s h o w a n I n c r e a s e o f 1 .4 6 ? ,',
o n ly .
T h e s e e x p e n s e s w o u ld h a v e s h o w n a d e c r e a s e h a d It n o t b e e n f o r
t h e In c re a s e d c o s t o f fu e l o c c a s io n e d b y th e m in e r s ’ s t r ik e s , c o m m e n c in g
d u r in g M a r c h 1 9 1 C n t h e c o a l d is t r ic t s c o n t ig u o u s t o t h is lin e .
T h e o p e r a t i n g e x p e n s e s w e r e .a ls o s l i g h t l y a f f e c t e d b y a n a d v a n c e In
w a g e s p a i d e m p l o y e e s g e n e r a l l y , w h i c h t o o k e f f e c t In t h e l a t t e r p a r t o f t h e
year.
T h e s e a d v a n c e s In w a g e s c h e d u l e s w i l l m a t e r i a l l y I n c r e a s e t h e c o s t
o f o p e r a tio n f o r s u c c e e d in g y e a r s .
, , .
,
„„
Additions anil Betterments.— T h e r e h a s b e e n e x p e n d e d t o J u n e 3 0 1 9 1 0
fr o m c u r r e n t f u n d s a n d fo r w h ic h n o s e c u r itie s h a v e b e e n I s s u e d , f o r “ a d d i
tio n s a n d b e t te r m e n t s to r o a d ,” t h e s u m o f § 1 ,2 6 8 ,1 0 4 ; o f t h is a m o u n t ,
§ 8 8 3 ,2 6 6 w a s e x p e n d e d d u r in g t h e c u r r e n t fis c a l y e a r [ n o t a b l y g r a d e r e
v is io n s a n d c h a n g e s o f lin e , § 9 5 ,9 8 5 ; b r id g e s , t r e s t le s a n d c u l v e r t s , § 1 5 0 ,1 8 4 ,
a n d In c r e a s e d w e ig h t o f r a il, § 1 5 2 ,7 8 7 ] ,
New Balance Sheet.— T h e g e n e r a l b a l a n c e s h e e t s t a t e m e n t Is m a d e u p
In t h e f o r m p r e s c r i b e d b y t h e I n t e r - S t a t e C o m m e r c e C o m m i s s i o n , a n d f o r
p u r p o s e s o f c o m p a r is o n t h e fig u r e s a n d g r o u p in g s a s o f J u n e 3 0 19 0 9 h a v e
b e e n r e - c a s t to c o n fo r m w ith t h e o r d e r .
Character of Steel Rail in M ain Track June 3 0 .
M iles19 10
19 0 9
19 0 8
19 0 7
_
Aliles —
19 10
19 0 9
19 0 8
190 7
7 5 -15 .
9 3 5 .7 1
8 3 0 .1 0
8 2 4 .2 3
8 2 3 .8 3
8 5-15 .
_____ 8 . 9 5
............ 8 . 9 5
_____ 8 . 9 5
_____ 8 . 9 5
. _
..
Rock.
.1 5 7 .1 6
.1 7 9 .0 2
.1 7 4 .8 5
. _1 5 3 .3 2
7 0 -15 .
3 0 .6 7
3 0 .6 7
3 0 .6 7
3 0 .6 7
6 0 -15 .
6 .1 5
6 .1 5
6 .1 5
6 .1 5
5 6 -15 .
3 4 0 .3 2
4 1 6 .8 5
4 2 2 .5 0
4 0 6 .9 6
3 5 -15 .
4 .0 5
3 3 .1 3
3 3 .3 5
3 3 .5 5
Ballast and Bridges in Main Track June 3 0 .
Gravel. Cinders. Nat. Soil. Bridges. Trestles.
6 4 2 .0 2
6 2 8 .0 4
6 2 8 .6 4
6 3 4 .9 4
8 9 .9 3
3 8 1 .2 1
3 8 8 .4 8
4 0 1 .5 3
8 9 .0 5
8 4 .0 7
7 0 .8 9
3 8 7 .9 0
1 .4 7
1 .4 7
1 .. 3 7
Total.
1 .3 2 5 .8 5
1 .3 2 5 .8 5
1 .3 2 5 .8 5
1 ,3 1 0 .1 1
Total.
J . 4 7 4 7 . 3 17 , 3 2 5 . 8 5
1 .3 2 5 .8 5
4 7 .0 6
1 .3 2 5 .8 5
4 8 .3 4
1 ,3 1 0 .1 0
4 8 .0 6
19 0 9 -10 .
A v e r a g e m ile s o p e r a te d
1 ,4 7 3
Operations—
P a s s e n g e r s c a r r i e d .............
2 ,2 5 8 ,4 5 5
P a s s e n g e r s c a r r ie d 1 m ile 8 3 ,9 6 4 ,4 5 0
H a te p e r p a ss, p e r m ile .
2 .5 8 c t s .
T o n s fr e ig h t m o v e d * _
3 ,0 0 2 ,0 4 2
do
do
1 m i l e * ____ 7 9 6 , 5 0 2 , 0 4 0
H a te p er to n p e r m i l e * . .
1 .0 4 c t s .
E a r n s , p e r p a s s , tr a in m .
$ 1 .2 3 0 3
E a r n s , p e r fr e ig h t t r . m .
§ 2 .9 3 3 0
G ro s s e a r n in g s p e r m ile .
§ 7 ,4 5 8
19 0 8 -0 9 .
1 ,4 7 0
19 0 7-0 8 .
1 ,4 6 4
19 0 6 -0 7 .
1 ,4 5 2
2 ,2 1 7 ,8 0 6
8 7 ,9 1 9 ,4 0 5
2 .3 4 c t s .
2 ,9 4 6 ,1 2 6
7 1 6 ,5 4 7 ,8 1 0
1 .0 8 c t s .
$ 1 .1 8 2 5
$ 2 .8 1 3 4
$ 7 ,0 2 9
2 ,2 6 1 ,9 6 5
8 6 ,5 4 0 ,4 0 7
2 .1 9 c t s .
2 ,9 4 4 ,1 6 8
7 0 9 ,0 1 0 ,6 3 5
1 .0 1 c t s .
$ 1 .0 8 1 5
$ 2 .6 5 4 9
$ 6 ,5 5 5
2 ,0 7 7 ,0 8 2
8 3 ,2 7 4 ,4 7 0
2 .4 2 c t s .
3 ,0 7 5 ,2 3 0
7 3 6 ,7 5 2 ,8 1 3
1 .0 5 c t s .
$ 1 .1 2 4 3
$ 2 .9 2 6 9
............ ...
* N o t in c lu d in g c o m p a n y ’s f r e ig h t .
ACCO U N T .
19 0 9 -10 .
$
2 ,2 0 5 ,1 9 6
8 ,2 4 3 ,9 5 4
4 4 7 ,3 0 3
9 0 ,0 0 3
19 0 8 -0 9 .
$
2 ,0 9 1 ,1 2 1
7 ,7 3 1 ,6 7 7
4 2 8 ,5 3 1
8 0 ,5 6 1
10 0 7 -0 8 .
$
1 ,9 2 4 ,5 1 5
7 ,1 7 3 ,7 9 9
4 1 5 ,4 1 5
8 4 ,5 3 4
o p e r a t i n g r e v e n u e s ------- Expenses—
M a in te n a n c e o f w a y a n d s t r u c tu r e s
M a i n t e n a n c e o f e q u i p m e n t . .............
T r a f f i c expenses__________________
T r a n s p o r t a t i o n e x p e n s e s ___. . . . . . .
1 0 ,9 8 6 ,5 1 6
1 0 ,3 3 1 ,8 8 9
0 ,5 9 8 ,2 6 4
2 ,1 5 0 ,7 2 7
1 ,8 5 7 ,5 2 7
4 1 4 ,7 6 2
3 ,2 7 6 ,4 7 8
4 4 6 ,5 6 3
1 ,8 0 2 , 4 9 8
1 ,8 6 6 ,6 6 2
3 6 6 ,8 8 3
3 ,2 2 9 ,4 2 5
4 3 1 ,6 2 5
1 ,7 6 0 ,6 9 7
1 ,6 8 6 ,4 9 5
3 4 5 ,7 3 0
3 ,3 5 3 ,9 3 6
4 2 4 ,5 6 5
T o t a l o p e r a t i n g e x p e n s e s _________
N e t o p e r a t i n g r e v e n u e . . . ........................
N e t fro m d in in g & s p e c ia l c a r s e r v ic e .
8 ,1 4 6 ,0 5 7
2 ,8 4 0 ,4 5 9
d e f.1 2 ,6 1 1
7 ,7 8 7 ,0 9 3
2 ,5 4 4 ,7 9 6
d e f.1 0 ,1 5 9
7 ,5 8 0 ,4 2 3
2 ,0 1 7 ,8 4 1
d e f.4 ,9 0 0
T o t a l n e t r e v e n u e ----------------------------T a x e s a c c r u e d ----------------------------------------
2 , 8 2 7 ,8 4 8
3 0 9 ,7 0 4
2 ,5 3 4 ,6 3 7
2 6 8 ,7 0 4
2 ,0 1 2 ,9 4 0
2 9 3 ,7 8 6
T o t a l o p e r a t i n g I n c o m e .........................
H i r e o f e q u i p m e n t — b a l a n c e ...................
J o i n t f a c i l i t i e s -------------------- ------------------I n t e r e s t o n I n v e s t m e n t s , & c --------- .
2 ,4 5 8 ,1 4 4
2 0 0 ,7 3 5 '
1 7 3 ,4 8 5
1 7 0 ,9 0 1
2 ,2 6 5 ,9 3 3
9 8 ,4 4 4
1 3 4 ,0 3 0
2 4 4 ,1 7 1
1 ,7 1 9 ,1 5 4
3 9 9 ,9 0 5
1 1 8 ,7 6 4
2 2 3 ,5 0 2
5 4 5 ,1 2 1
4 7 7 ,5 4 5
2 ,7 4 3 ,4 7 8
7 4 2 ,1 7 1
2 ,4 6 1 ,3 2 5
1 ,0 9 0 ,4 4 0
1 2 1 ,7 0 0
6 2 ,3 6 2
2 5 ,0 0 0
2 8 7 ,2 9 7
1 ,6 8 7 ,1 3 3
1 2 6 ,0 8 0
3 3 ,0 9 8
2 5 ,0 0 0
2 7 1 ,0 7 7
1 ,6 4 0 ,2 8 3
1 3 0 ,4 2 0
7 0 ,1 8 9
2 5 ,0 0 0
2 7 5 ,6 0 8
2 ,1 8 6 ,7 9 9
8 1 6 ,4 0 6
i 5 % ) 9 9 4 ,6 8 3
2 ,1 4 5 ,3 8 8
5 9 8 ,0 8 9
( 2 ) 3 9 7 ,8 7 3
2 ,1 4 1 ,5 0 0
3 1 0 ,8 2 4
Operating Income—
P a s s e n g e r ................................................................ .
Freight ------- -------- -----------------------
M a l l , e x p r e s s , & c . . ............. ..................- - - .
U c v . o th e r th a n fro m tr a n s p o r ta tio n
T o ta l
(ieneral expenses--------------- -----------
Deduct—
I n t . o n fir s t a n d c o n s . m t g e . b o n d
I n t . o n 2 d M . I n c . b d s . h e l d b y p u b l i c•
O t h e r In te re s t a n d m is c e lla n e o u s .
K e n t s — l e a s e d r o a d s ............
—
K e n t s — J o in t f a c i li t ie s , & c
.
CO N D EN SED B A LA N C E SH EET, JU N E 30 .
19 10 .
19 0 9 .
§
S
R o a d a n d e q u i p . a 8 0 , 7 0 5 , 6 80 7 9 ,6 8 7 ,9 2 7
S e c u r i t i e s . ...............5 1 4 , 1 9 7 , 1 7 8
1 4 ,1 9 6 ,1 7 6
M fs c . I n v e s t m e n t s
1 0 ,1 3 0
3 9 ,6 5 4
C a s h ..................
1 ,2 2 0 ,5 6 5
1 ,4 7 9 ,9 3 3
2 5 0 ,2 5 0
S e c u r . h e ld In t r e a s .
2 5 0 ,2 5 0
M a r k e t a b l e s e c u r ’s
7 0 6 ,8 3 4
2 ,6 9 9 ,9 3 6
M a t e r ia l & s u p p l i e s 1 , 6 1 7 , 5 4 3
1 ,4 7 9 ,1 1 5
T r a ffic b a l. ( n e t) .
2 6 ,2 9 5
2 7 ,6 9 0
L o a n s & b i l l s r e c ’l e
2 0 3 ,3 8 6
4 9 ,5 1 9
M ls c e l . a c c o u n t s . . 2 , 3 7 2 , 3 7 6
1 ,9 1 9 ,6 5 1
A c e r . I n t .,d lv s .,& c .
1 7 1 ,5 0 2
1 7 0 ,9 5 1
A d v a n c e s ..............
1 ,5 4 9 ,6 1 2
1 ,6 9 1 ,2 9 5
S p e c ia l d e p o s its . .
5 4 1 ,2 7 8
O t h .d e f.d e b it Ite m s
2 7 6 ,9 3 4
3 8 2 ,9 3 1
Assets—
190 9.
19 10 ,
Liabilities—
Com m on sto ck
16
P re fe rre d s t o c k
20
B o n d s (see " R y . &
I n d .” s e c t i o n ) . . 59
L o a n s & b i l l s p a y ’ le
V o u ch ers & w ag es
I n t ., d lv s ., & c .,d u e
M ls c e l. a c c o u n t s . .
I n t ., d lv s .,
& c .,
a c c r u e d .................
T a x e s a c c r u e d ____
D e f 'd c r e d i t I t e m s . 1
P r o f i t a n d l o s s ___ 4
T o t a l ....................1 0 3 ,8 4 9 ,5 6 3 1 0 4 0 7 5 ,0 2 8
S
S
,5 0 0 ,0 0 0
1 6 ,5 0 0 ,0 0 0
,000,000 20,000,000
2 1 3 ,6 6 3 5 8 ,9 9 3 ,1 0 0
120,000
1 5 0 ,0 0 0
8 4 8 ,7 6 1
8 6 0 ,6 8 0
2 5 5 ,7 0 4
2 8 1 ,2 4 6
3 9 ,7 0 5
1 0 0 ,5 4 6
7 3 5 ,3 6 4
1 5 8 ,8 9 3
0 2 2 ,9 1 5
,8 2 6 ,2 5 6
6 3 0 ,1 1 6
1 3 6 ,3 3 8
8 8 5 ,7 3 9
5 ,6 0 5 ,5 6 5
T o t a l _________1 0 3 ,8 4 9 ,5 6 3 1 0 4 ,0 7 5 ,0 2 8
a H o a d a n d e q u i p m e n t In 1 9 1 0 ( $ 8 0 , 7 0 5 , 6 8 0 ) I n c l u d e s i n v e s t m e n t t o
J u n e 3 0 1 9 0 7 , § 7 8 , 8 6 6 , 5 3 7 ; I n v e s t m e n t s i n c e J u n e 3 0 1 9 0 7 , § 2 ,8 4 6 ,8 2 4 ;
le s s r e s e r v e f o r a c c r u e d d e p r e c ia t io n o f e x i s t i n g e q u ip m e n t , $ 1 ,0 0 7 ,6 8 1 .
b I n c lu d e s s e c u r it ie s o f p r o p r ie t a r y , a f filia t e d a n d c o n t r o lle d c o m p a n ie s —
p l e d g e d , § 1 ,6 7 0 ,4 6 7 , a n d u n p le d g e d , $ 2 2 ,3 7 8 , a n d S t . L . S o . R y . s e c u r i t i e s
p le d g e d , § 1 2 ,5 0 4 ,3 3 3 .— V . 9 1 , p . 3 9 3 , 3 9 7 .
Northern Pacific 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
another week. The company says:
I t w ill b e n o t e d t h a t m a i n t e n a n c e e x p e n s e s in c r e a s e d $ 4 ,1 4 2 ,3 5 3 a n d
c o n d u c tin g
tr a n s p o r ta tio n
In creased
$ 3 ,7 3 9 ,5 7 6 .
Of
th e
in c r e a s e
in
t r a n s p o r t a t io n e x p e n s e s 5 1 ,9 7 3 ,5 3 3 w a s fo r in c r e a s e d
p a y m e n t s to la b o r .
T a x e s in c r e a s e d $ 1 ,0 7 4 ,1 6 5 .
M a in t e n a n c e a n d t a x e s t o g e th e r in c r e a s e d
$ 5 ,2 1 6 ,5 1 8 ,a s c o m p a r e d w it h a d e c r e a s e in n e t in c o m e , a f t e r a ll c h a r g e s a n d
d e d u c t io n s , o f $ 2 ,5 9 8 ,0 9 1 .
.
IN C O M E A C C O U N T .
19 0 9 -10 .
$
. . 4 8 ,7 5 8 ,7 3 6
__ 2 1 ,3 3 3 ,3 1 3
3 .6 7 1 ,8 1 7
t r a n s p o r t a t io ni.
Operating Revenue—
F r e i g h t _______________________
O th e r re v e n u e fro m
1 9 0 8 -0 9 .
$
4 7 ,0 7 3 ,3 0 5
1 7 ,3 3 0 ,6 0 8
3 ,4 1 6 ,1 0 2
19 0 7-0 8 .
$
4 6 ,4 2 3 ,8 3 6
1 8 ,1 3 3 ,2 3 8
3 ,0 6 5 ,0 7 6
...
L._
7 3 ,7 6 3 ,8 6 6
7 6 1 ,9 6 0
6 7 ,8 2 0 ,0 1 5
6 4 0 ,7 3 2
6 7 ,6 2 2 ,1 5 1
5 9 8 ,5 2 6
...
7 4 ,5 2 5 ,8 2 6
1 2 ,9 2 8
6 8 ,4 6 0 ,7 4 7
1 2 ,0 7 1
6 8 ,2 2 0 ,6 7 7
1 2 ,1 1 0
M a i n t e n a n c e o f w a y a n d s t r u c t u r e si
...
...
..
1 0 ,8 4 2 ,9 5 5
8 ,9 9 2 ,1 3 7
1 ,0 3 6 ,4 0 4
2 4 ,0 4 5 ,1 9 7
1 ,0 7 0 ,7 1 2
7 ,8 4 7 ,0 5 0
7 ,8 4 5 ,6 8 9
9 1 9 ,1 9 9
2 0 ,3 0 5 ,6 2 1
1 ,1 0 2 ,4 4 5
8 ,7 6 2 ,2 9 7
8 ,5 7 2 ,7 1 7
8 0 7 ,8 4 9
2 0 ,6 5 9 .1 1 9
1 ,0 3 8 ,7 0 1
...
...
P e r ce n t o p er. e x p . to o p er. r e v .
N e t o p e r a t i n g r e v e n u e ______ __
S le e p in g p a r lo r , o b s e r v a t io n , d in in g
a n d c a fe ca rs a n d re s ta u ra n ts
4 5 ,9 8 7 ,4 0 5
( 6 1 .7 1 % )
2 8 ,5 3 8 ,4 2 1
3 8 ,0 2 0 ,0 0 4
( 5 5 .5 4 % )
3 0 ,4 4 0 ,7 4 3
3 9 ,8 4 0 ,6 8 4
( 5 8 .4 0 % )
2 8 ,3 7 9 ,9 9 3
T o t a l n e t r e v e n u e ______
________ 2 9 , 1 4 0 , 8 9 6
T a x e s a c c r u e d ___________ ________
_
3 ,6 2 2 ,0 0 0
3 0 ,8 7 0 ,1 0 2
2 ,5 4 7 ,8 3 5
2 9 ,0 2 0 ,9 1 9
2 ,7 1 7 ,4 8 6
O p e r a t i n g i n c o m e _____ __________ _ .
D iv id e n d s a n d in te r e s t o n s e c u r itie s ,
in t . o n d e p o s its & r e n t a ls r e c e iv e d .
H i r e o f e q u i p m e n t _______
____
.
2 5 ,5 1 8 ,8 9 6
2 8 ,3 2 2 ,2 6 7
2 6 ,3 0 3 ,4 3 3
3 ,7 9 5 ,7 2 7
1 6 0 ,5 7 8
3 ,2 4 5 ,4 1 9
4 5 2 ,2 1 9
3 ,9 7 5 ,7 6 3
1 3 8 ,3 8 0
G r o s s i n c o m e __________________
Deduct—
R e n t a l s p a i d _________________________
I n t e r e s t o n f u n d e d d e b t ____ ________
I n t e r e s t a n d c o m m is s io n s o n n e w
s t o c k s u b s c r i p t i o n s _________________
D i v i d e n d s o n s t o c k , 7 % ______________
2 9 ,4 7 5 ,2 0 1
3 2 ,0 1 9 ,9 0 5
3 0 ,4 1 7 ,5 7 7
5 0 9 ,9 2 8
6 ,6 6 9 ,0 1 4
3 3 7 ,1 3 6
6 ,7 7 5 ,0 0 3
3 1 8 ,7 1 8
7 ,0 9 8 ,9 0 8
______
1 7 ,3 6 0 ,0 0 0
3 ,2 6 8 ,4 1 6
1 4 ,1 0 5 ,0 0 0
3 ,1 0 6 ,8 8 3
1 0 ,8 5 0 ,0 0 0
T o t a l ...................... ............................................... ..
P e r m ile
( a v e r a g e ) __________
Operating Expenses—
T r a f f i c e x p e n s e s _______________
T r a n s p o r t a t i o n e x p e n s e s ____
G e n e r a l e x p e n s e s __________
...
0 0 2 ,4 7 5
2 4 ,5 3 8 ,9 4 2
2 4 ,4 8 5 ,5 5 5
2 1 ,3 7 4 ,5 0 9
N e t I n c o m e f o r t h e y e a r . . _____ __
A p p r o p r ia t io n fo r in s u r a n c e fu n d .
4 ,9 3 6 ,2 5 9
7 ,5 3 4 ,3 5 0
9 ,0 4 3 ,0 6 8
2 ,7 8 4 ,9 5 0
N e t s u r p lu s fo r t h e y e a r
— V . 9 1, p. 39.
4 ,9 3 6 ,2 5 9
7 ,5 3 4 ,3 5 0
6 ,2 5 8 ,1 1 8
E X P E N S E S , C H A R G E S , &C.
O P E R A T I O N S , E A R N IN G
T o t a l d e d u c tio n s
B a la n c e , s u r p lu s fo r y e a r
P re fe rre d d iv id e n d s
.
943
THE CHRONICLE
O c t . 8 1 91 0 .]
.
National Railways of Mexico.
(Preliminary Report for Fiscal Year ending June 30 1910.)
CONDENSED INCOME ACCOUNT (M EXICAN CURRENCY).
1 9 0 9 -10 .
8
1 9 0 8 -0 9 .
1 9 0 9 -10 .
19 0 8 -0 9 .
S
8
S u n d r y a d j u s t m 't s * 1 1 1 , 6 5 2
1 ,0 8 2 ,4 1 6
D e p re c ’n r e s e r v e ..
9 8 0 ,0 0 0
1 ,3 4 0 ,4 0 0
R e s e r v e t o r e p a ir
flo o d d a m a g e s . . 1 ,0 0 0 ,0 0 0
1 9 ,6 3 8 ,6 2 9
1 ,3 8 6 ,0 9 4 I n t . o n b o n d s , & c . 1 6 ,7 3 9 ,7 4 4 1 6 ,9 7 5 ,9 4 4
T r a n s f. to res. fu n d
1 4 1 ,8 2 8
6 3 ,3 5 7
2 1 ,0 2 4 ,7 2 3 D i v . o n 1 s t p f . s l i . (3 ) 1 .7 2 9 , 9 7 4 ( 2 ) 1 , 1 5 3 , 3 1 6
I
----------------- ----------------3 3 5 ,9 8 6
T o t a l d e d u c ’ n s . 2 1 , 1 9 2 , 5 0 5 2 0 ,9 7 4 ,2 5 3
2 2 ,8 3 4 B a l a n c e , s u r p l u s . .
9 6 4 ,7 6 7
5 0 ,4 7 0
8
G r o s s e a r n in g s
O p e r a tin g e x p
2 ,5 6 2 ,2 9 3 4 8 ,8 0 5 ,5 2 2
. 3 1 , 5 9 3 , 5 5 7 2 9 ,1 6 6 ,8 9 3
N e t e a r n in g s .
O t h e r In co m e . .
.2 0 ,9 6 8 ,7 3 6
. 1 .1 8 8 ,5 3 6
T o t a l ................... . 2 2 , 1 5 7 , 2 7 2
Deduct—
T a x e s a n d r e n ta ls .
4 1 3 ,0 6 8
O p .d e f s . o f s u b . c o s .
7 6 ,2 3 9
I
* S u n d r y a d j u s t m e n t s I n c lu d e In 1 9 0 9 - 1 0 m a t e r i a l a d j u s t m e n t a c c o u n t , S 5 0 .0 0 0 .
a n d r e s e r v e o n a d d i t i o n s a n d b e t t e r m e n t s in s u s p e n s e , S 6 1 .6 5 2 : a n d In 19 0 8 -0 9
a d ju s tm e n ts o f o p e r a tin g e x p e n s e s o f a n d c la im s m a d e o n c o n s tit u e n t c o m p a n ie s ,
$ 1 ,0 8 2 ,4 1 6 .
A s t o a u t h o r i z a t i o n o f art a d d i t i o n a l d i v i d e n d o f 1 % , s e e it e m o n a n o t h e r p a g e .
— V . 9 1 , p . 7 1 7 , 589.
Distillers Securities Corporation.
(Report for Fiscal Year ending June 30 1910.)
President E . J. Curley, Sept. 30 1910, wrote in substance:
T h e o p e r a tin g e f fic ie n c y o f th e p la n ts h a s b e e n m a in ta in e d , a n d th e co s t
( § 2 2 5 ,1 9 1 ) h a s b e e n c h a r g e d a g a in s t e a r n in g s .
A ll a c c o u n t s b e t w e e n th e
c o m p a n y a m i Its c o n s t it u e n t c o m p a n ie s h a v e b e e n e lim i n a t e d , s o a s t o s h o w
t h e n et. f ig u r e s .
O n d u n e 30 1 9 1 0 t h e t o t a l c u r r e n t l ia b i li t ie s w e r e $ 4 .
6 0 5 ,8 8 , c o n t r a s t i n g w i t h § 4 ,8 0 0 ,7 3 2 , < n J u n e 3 0 1 9 0 9 .
O f th e ite m “ b a n k
a n d o u t e r l o a n s ( $ 3 ,8 1 1 , 9 9 0 ) ” S I . 1 9 3 , 3 3 3 a r e b a n k l o a n s , a n d t h e b a l a n c e ,
§ 2 ,0 4 8 ,6 5 7 ,a r c lo a n s fr o m s u b s id ia r y c o m p a n ie s .
M e r c h a n d is e , m a t e r ia ls a n d s u p p lie s a g g r e g a t i n g $ 3 ,0 5 6 ,7 7 9 h a v e b e e n
ta k e n a t a c tu a l c o s t.
T h is it e m c o n s is t s o f fin is h e d g o o d s ( w h is k ie s a n d
s p i r i t s ) , $ 2 ,3 0 0 ,9 4 0 : g o o d s in p r o c e s s , $ 9 1 ,8 8 0 ; g r a i n , $ 1 0 7 ,9 8 5 ; m a n u
f a c t u r in g s u p p lie s
(c o o p e r a g e , fu e l, c h a r c o a l,
& c . ) , $ 4 3 0 ,7 5 0 ; g e n e r a l
s u p p lie s , c o n s is t in g o f r e p a ir m a t e r ia ls , g e n e r a l m e r c h a n d is e , h o r s e s ,
w a g o n s , & c ., $ 1 2 5 ,2 1 5 .
T h e c u r r e n t a s s e t s o f t h e c o m p a n ie s a r e $ 1 8 ,9 8 2 ,6 2 4 g r o s s a n d S 1 4 .3 7 6 .8 0 6
n e t , a n d / e x c lu s iv e o f r e a l e s t a t e , p la n t s , t r a d e - m ir k s , g o o d - w ill, & c ., a r c
a b o u t e q u a l to th e a m o u n t o f o u ts ta n d in g b o n d s .
Country's Average Yearly Production o f Distilled Spirits, and the Average Yearly
Tax-Paid IV Uhdraicals for Consumption (in Gallons, Compare V. 8 5 , p. 1 0 8 6 ) .
For Five Year Periods Ending—
June 3 0 ’ 9 0 . June 3 0 '9 5 . June 3 0 ’0 0 . June 3 0 ’0 5 . June 3 0 ’ 10 .
A v g o y e a r l y p r o d u c . 8 5 ,4 1 7 ,9 6 4 1 0 5 .7 0 7 ,6 5 9
A v . y ’r l y . w i t h d r a w . . 7 8 , 2 3 8 ,7 5 0
9 6 ,1 5 3 ,3 3 4
8 6 ,4 7 3 ,5 6 3
7 8 ,0 4 9 ,7 7 0
1 3 5 ,4 0 8 ,5 9 0
1 0 9 .4 6 2 ,6 0 6
1 4 0 ,1 8 3 ,6 1 2
1 2 3 ,4 8 6 ,1 8 1
O u r b u s in e s s f o llo w in g t h e d e p r e s s io n c a u s e d b y t h e p a n ic o f 1 9 0 7 s h o w s
a s t e a d y im p r o v e m e n t.
944
THE CHRONICLE
E A R N IN G S , E X P E N S E S , CH A R G ES, &C.
19 0 9 -10 .
G ro ss
p r o f i t s --------------------
19 0 8 -0 9 .
19 0 7-0 8 .
5
19 0 6 -0 7
A cc/»/c_—
$
2 ,7 2 3 ,9 8 0
2 ,6 8 3 ,2 3 7
2 ,4 5 4 ,3 9 1
4 ,5 4 1
696
I n t . o n n o te s a n il lo a n s .
T a x e s - . _______________
R e n t a l s ----------------------------In su ra n ce
_
___
A d d i t i o n s a n d m a l n t ___
A d m in is t r a t io n , A c ., e x p
3 3 3 ,2 3 2
1 1 6 ,7 9 7
7 9 ,5 6 8
9 6 ,9 6 9
2 2 5 ,1 9 1
3 0 1 ,3 5 8
3 2 1 ,2 9 4
1 0 4 ,4 7 0
7 9 ,2 3 9
8 4 ,5 9 5
2 2 5 ,1 9 5
3 4 4 ,6 2 0
4 0 6 ,9 6 8
1 0 6 ,2 6 4
8 1 ,4 6 0
8 0 ,8 0 9
3 0 3 ,7 8 9
3 4 1 ,1 1 5
327
79
85
94
245
367
,1 9 5
,0 1 8
.3 7 7
992
9 12
8 15
T o t a l .......................
N e t e a r n i n g s , .........................
I n t e r e s t o n b o n d s _______
D i v i d e n d s -------------------------
1 ,1 5 3 ,1 1 5
1 ,5 7 0 ,8 6 5
7 9 1 ,6 4 7
( 2 ) 6 8 7 ,6 6 8
1 ,1 5 9 ,4 1 3
1 ,5 2 3 ,8 2 4
7 8 9 ,6 1 7
(2 ) 6 7 9 ,6 9 5
Deduct—
1 ,3 2 0 ,4 0 6
1 ,2 0 0 ,3 0 9
1 ,1 3 3 ,9 8 5
3 ,3 4 1 ,3 8 7
7 9 0 ,0 5 4
7 8 2 ,6 2 0
( 4 ) 1 ,3 0 6 ,2 1 5 ( 5 ) 1 ,6 3 4 ,3 0 9
l VOL. L X X X X I .
BALAN CE SHEET
June‘SO ’ 10, July 3 1 ’ 09
€
Liabilities—
P r o p e r t y , A c ____ a 2 9 , 1 7 2 ,4 2 2 2 9 ,0 1 6 ,8 4 2
2 5 9 ,8 0 2
C a s h .............................
5 9 5 ,2 6 0
A c c o u n ts & c la im s
r e c e i v a b l e _____
6 6 1 5 ,1 8 0
1 8 7 ,2 9 0
8 5 9 ,9 1 0
6 7 9 ,9 4 3
A c c r ’d c a m s . , n e t .
M a te r ia ls & s u p p .
8 ,4 7 8
6 ,8 2 5
I n s u r ., A c ., u n o x p
1 5 9 ,2 2 5
M is c c ll. e x p e n s e s ..
8 ,8 6 6
A ccru e d in t e r e s t..
______
4 ,0 0 0
T o t a l .........................3 0 ,6 3 9 ,3 7 5 3 0 ,3 6 4 ,6 6 9
.Pine 3 0 ’ 1 0 July 3 1 ’ 09S
$
C o m m o n s t o c k . . . 7 ,0 0 0 ,0 0 0
7 ,0 0 0 ,0 0 0
P r e f e r r e d s t o c k . . .1 0 ,0 0 0 ,0 0 0 10 ,0 0 0 ,0 0 0
F i r s t m t g e . b o n d s . 1 1 ,8 0 0 ,0 0 0 1 1 ,8 0 0 ,0 0 0
A c co u n ts p a y a b le .)
9 3 ,0 5 2
( 2 3 ,2 7 1
D u e r a i l r o a d s ___ j
1 1 6 ,2 4 8
A ccru e d b o n d in t .
1 9 6 ,6 6 7
A c c r u e d t a x e s ___
2 8 3 ,4 2 5
2 9 6 ,1 3 1
597
L o s s A ila m a g e o l’m s
238
R eserve .
6 3 1 ,5 8 8
S u r p l u s ......................( i t , 2 2 1 , 3 1 0
1 ,2 4 1 ,4 8 0
T o t a l ___________3 0 ,0 3 9 ,3 7 5 3 0 ,3 6 4 ,6 6 9
a Property, Ac., includes in 1910 real estate, wharves, warehouses, Ac., $28,336,
T o ta l in t . a n d d i v s
B a l a n c e -----------------------------
1 ,4 7 9 ,3 1 5
s u r .9 1 ,5 5 0
1 ,1 6 9 ,3 1 2
s u r .5 4 ,5 1 2
2 ,0 9 6 ,2 6 9
2 ,4 1 6 ,9 2 9
d e f . 9 6 2 ,2 8 4 s u r . 9 2 4 ,4 5 8
B A L A N C E S H E E T J U N E 3 0 , S H O W IN G A S S E T S A N D L I A B I L I T I E S
O F D I S T I L L E R 'S S E C U R I T I E S C O R P O R A T IO N A N D O F
IT S C O N S T IT U E N T C O M P A N IE S .
19 10 .
Assets—
$
P r o p e r t ie s o f c o n s t , c o s - 4 0 ,0 8 9 ,9 3 3
B o n d s h e ld b y A m e r ic a n
S p ir its M fg .C o ., t r u s te e
_______
C a s h ..
_______________
9 9 6 ,6 7 6
A c c t s . & b ills r e c e iv a b le .
9 ,2 5 5 ,7 2 7
M a t. & s u p p lie s ( a t c o s t)
3 ,0 5 6 ,7 7 9
^ S e c u r itie s o f o th e r c o s .
5 ,6 7 3 ,4 4 2
19 0 8 .
19 0 9 .
3 9 ,3 6 0 ,3 9 9
3 9 ,0 2 2 ,6 7
1 , 2 0 0 ,8 6 2
9 ,5 7 4 ,1 1 4
2 ,8 2 2 ,6 0 5
5 ,5 2 1 ,8 5 9
1 ,0 6 8 ,5 6 8
1 1 ,3 4 3 ,5 0 6
2 ,8 9 8 ,7 3 3
5 ,6 9 8 ,4 7 2
1 ,3 0 4 ,0 2 7
1 2 ,1 8 5 ,1 6 4
2 ,6 1 8 ,9 9 1
5 ,6 6 7 ,3 6 2
11,000
T o t a l a s s e t s - ................... .y 5 9 , 0 7 2 , 5 5 7 t / 5 9 , 1 0 6 , 5 8 0 j/ 6 0 ,3 6 9 ,6 7 8
Liabilities—
3 0 ,7 6 6 ,9 9 7
3 0 ,7 2 6 ,5 3 8
C a p i t a l s t o c k i s s u e d ____ 3 0 , 7 8 0 , 8 7 4
S t o c k w it h M e r c a n tile T r .
C o. a g st o u tstd g . sto ck
o f D ls t. C o . o f A m e r.
1 ,7 1 1 ,8 4 3
1 , 7 5 2 ,3 0 2
a n d Its c o n s t i t u e n t c o s .
1 ,6 9 7 ,9 6 6
1 5 ,9 3 3 ,0 0 0
1 5 , 9 3 8 000
B o n d e d I n d e b t e d n e s s ___ 1 6 , 0 0 0 , 0 0 0
264
8
U n c l a i m e d d i v i d e n d s ___
596
1 / 4 ,8 0 6 ,7 3 3
1 / 6 ,0 5 7 8 3 4
A c c t s . A b il l s p a y a b l e . . j/ 4 ,6 0 5 ,8 1 8
1 5 7 ,3 4 5
2 1 9 , 110
R e s e r v e a c c o u n t s _______
1 6 5 ,3 5 5
5 ,7 3 0 ,3 9 8
5 ,8 2 1 ,9 4 8
S u r p l u s a c c o u n t ________
5 , 6 7 5 , 886
T o t a l l i a b i l i t i e s - ............. V5 9 , 0 7 2 , 5 5 7
19 0 7
3 9 ,9 8 7 ,1 4 0
1 / 5 9 ,1 0 6 ,5 8 0
1 / 6 0 ,3 6 9 ,6 7 8
y6 0 , 8 0 9 , 2 1 7
30, 7 2 2 ,9 5 9
,7 5 5 ,8 8 1
9 4 7 ,0 0 0
541
1/5 5 1 0 , 8 4 0
2 3 3 ,8 2 6
6 6 3 8 ,1 7 1
1 / 6 0 ,8 0 9 ,2 1 7
x P r i n c i p a l l y s t o c k s in c o m p a n i e s o w n e d b y t h e p a r e n t o r c o n s t i t u e n t c o s .
;/ T o t a l s d l l f c r f r o m t h o s e i n c o m p a n y ’s r e p o r t .
T li c “ a c c o u n ts a n d b ills
p a y a b l e ” a r e s h o w n a b o v e u n d e r l i a b i l i t i e s ; in t h e r e p o r t t h e y a r e d e d u c t e d
fro m c u r r e n t a s s e ts a n d o m itte d u n d e r lia b ilitie s .— V . 9 0 , p 3 7 5 .
New York Dock Co.
(Report for Eleven Months ending June 30 1910.)
President F. S. Landstreet, Sept. 20 1910, wrote:
'
General Results.— I n o r d e r t o c o n f o r m t o g e n e r a l c u s t o m , t h e b y - l a w s w e r e
a m e n d e d t o m a k e t h e fis c a l y e a r e n d o n J u n e 30 I n s te a d o f J u l y 3 1 .
For
t h is r e a s o n n o c o m p a r is o n is s u b m it t e d .
T h e g r o s s e a r n in g s f o r th e e le v e n
m o n t h s , h o w e v e r , s h o w a n in c r e a s e o v e r th e c o r r e s p o n d in g e le v e n m o n t h s
o f 1 9 0 8 -0 9 o f $ 3 0 ,3 6 1 , t h e e x p e n s e s d e c r e a s e d $ 4 0 ,2 5 3 , t h e n e t e a r n in g s
I n c r e a s e d $ 7 0 ,6 1 4 , I n s u r a n c e d e c r e a s e d $ 8 ,2 5 4 , t a x e s in c r e a s e d $ 3 6 ,0 0 0 , a n d
t lie n e t s u r p lu s a f t e r a l l c h a r g e s I n c r e a s e d $ 4 2 ,8 6 9 .
Permanent Improvements.— I m p r o v e m e n t s i n c l u d i n g i n s t a l l a t i o n o f 4 8
lir e d o o r s , r e v is i o n a n d e x t e n s io n o f t r a c k s a n d t e r m in a ls , t h e p u r c h a s e o f
lo c o m o tiv e N o . 9 , 2 n e w s te e l c a r - flo a ts N o s . 8 a n d 9 , a n d th e n e w tu g
“ B r o o k ly n ,”
& c ., A c ., a g g r e g a t e d $ 1 3 4 ,5 9 2 .
I n a d d i t io n $ 5 7 ,5 8 1 w a s
e x p e n d e d f o r r e p a ir s a n il m a in te n a n c e a n d c h a r g e d t o o p e r a t in g e x p e n s e s .
F u r t h e r i m p r o v e m e n t w o r k Is b e i n g p u s h e d r a p i d l y t o c o m p l e t i o n .
Railroad.— T h e i n c r e a s i n g d e m a n d f o r r a i l r o a d f a c i l i t i e s o n t h e p a r t o f
m a n u f a c t u r e r s o n y o u r p r o p e r t y a n d m e r c h a n t s a n d m a n u f a c t u r e r s In t h e
v i c i n i t y , is r e q u i r i n g c o n s i d e r a b l e a d d i t i o n a l t r a c k a g e a n d e q u i p m e n t , a n d
t h e b u s i n e s s Is g r o w i n g , w i t h s a t i s f a c t o r y r e s u l t s .
T o e s ta b lis h m o re p e r
m a n e n t 1 ’ t h e r a i lr o a d t e r m i n a l f e a t u r e , a p p l i c a t i o n is p e n d i n g f o r a c h a r t e r
f o r t h e r a ilr o a d .
S h o u l d t h e c h a r t e r b e o b t a i n e d , i t is p r o p o s e d t h a t y o u r
c o m p a n y le a s e t o t h e r a ilr o a d c o m p a n y o u r r a ilr o a d t e r m in a l fa c ilit ie s , th e
r a ilr o a d c o m p a n y t o p r o v id e f o r f u t u r e a d d itio n s , th u s r e s e r v in g o u r t r e a s
u r y f u n d s f o r im p r o v e m e n t s o t h e r t h a n th o s e o f a r a ilr o a d c h a r a c t e r .
Adjustment of Accounts.— I n t h e r e a d j u s t m e n t o f y o u r a c c o u n t i n g s y s t e m ,
it w a s fo u n d t h a t ,u n d e r th e c u s to m fo llo w e d fo r o v e r 20 y e a r s .n o s t o r a g e
w a s p a id o n g o o d s u n til t h e y w e r e r e m o v e d fr o m s t o r e .
T h is p r a c tic e le d
to m a n y c o m p lic a tio n s , e a r n in g s fro m s to r a g e b e in g n e c e s s a r ily la r g e ly
e s tim a te d .
T ld s s y s te m w a s c h a n g e d o n J a n . 1 19 10 so th a t n o a c c o u n ts
w o u ld b e p e r m itt e d to ru n lo n g e r th a n s ix m o n th s .
T ld s le d t o th e a c c r u e d
e a r n in g a c c o u n t s h o w n o n y o u r s t a t e m e n t o f J u l y 3 1 19 0 9 a s $ 8 5 9 ,9 1 0 n e t ,
a f t e r d e d u c t i n g a r e s e r v e f o r l o s s o f $ 1 0 0 ,0 0 0 ; b e i n g c o n v e r t e d i n t o a c c o u n t s
r e c e iv a b le a n 1 c a s h , a n d le a v in g y o u r “ a c c r u e d e a r n in g s a c c o u n t ” a s o f
J u n e 3 0 1 9 1 0 o n ly $ 7 9 ,9 4 3 .
T h e r e lia s b e e n c h a r g e d a g a in s t s u r p lu s a c c o u n t
$ 7 3 ,6 5 9 , b e i n g t h e b a l a n c e ( $ 5 8 ,9 5 9 ) o f a c c r u e d e a r n in g s n o t r e a li z e d , a n d
$ 1 4 ,7 0 0 f o r a c c o u n t s n o t c o l l e c t i b l e , A c .
Depreciation.— N o d e p r e c i a t i o n h a s b e e n c h a r g e d o u t d u r i n g t h e e l e v e n
m o n th s.
N o s e c u r i t i e s h a v e b e e n s o l d s i n c e 1 9 0 6 , w h e n $ 2 2 0 ,0 0 0 b o n d s
w e r e s o ld t o r e im b u r s e t h e t r e a s u r y f o r p r e v io u s e x p e n d it u r e s .
B e tw e e n
J u l y 3 l 19 0 6 a n d J u n e 3 0 1 9 1 0 t h e r e w a s s p e n t f o r p e r m a n e n t im p r o v e m e n ts
a t o t a l o f $ 6 0 0 ,0 8 5 , o r a n a v e r a g e o f $ 1 5 0 ,0 2 1 p e r y e a r , w h i c h w a s p a id f o r
o u t o f e a r n in g s .
In a d d itio n th e r e w a s s p e n t d u r in g th e s a m e p e rio d fo r
g e n e r a l r e p a ir s a n d m a in t e n a n c e a t o t a l o f $ 2 1 0 ,3 2 3 , t h is b e in g c h a r g e d
e n t ir e ly to o p e r a tin g e x p e n s e s .
T h e r e a r e h e l d i n t h e t r e a s u r y b o n d s a n d a s s e t s a p p r o x i m a t i n g $ 2 ,0 0 0 ,0 0 0
a v a i la b le f o r f u r t h e r im p r o v e m e n ts a n d a d d it io n s .
Owing to the revision of the accounting system referred
to above, a correct comparison with earlier periods is im
practicable, either as to earnings or balance sheet. W e ap
pend, however, the figures appearing in the three previous
pamphlet reports, omitting certain items of adjustments
in the income account.
IN C O M E A C C O U N T.
1 1 Mos. end.
June 3 0 1 9 1 0 .
G r o s s e a r n i n g s f r o m ware
houses, d o c k s , R R . , A c . $ 1 , 9 4 3 , 3 7 8
Expenses—
W a reh o u ses a n d d o c k s ..
$ 4 8 2 ,1 3 9
1 5 8 ,9 7 7
R a i l w a y d e p a r t m e n t ____
R e p a ir s & m a in t. o f w a r e
h o u s e s a n d d o c k s _____
4 0 ,6 8 3
L e g a l e x p e n s e s ____________
6 ,6 5 3
I n s u r a n c e _______________
5 7 ,7 4 5
United States Coal & 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.— ’1'he net proflts of the year, 5323,565, have been appropriated
as follows: Reserve funds for extinguishment and depreciation of coal
properties,. transportation plants, river and railroad equipment, Ac.,
$72,527; carried to surplus account, $251,038.
Subsidiaries Included.— The Income account and the consolidated balancesheet 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 $245,901 consist of 55 dwelling houses, ad
dition to power house, power house dam, installation of steam .turbine,
condenser and electric dynamos, development of mines 0 and 10 (now on
operating basis), development of mines 7 and 8 anil equipment, 241 mine
cars, 6 Jeffrey mining machines, 4 electric mine locomotives, extension ol
railroad main line and sidings; 15 coal barges and 4 coal boats, float, bins,
screens and other river equipment; steam locomotive, rights-of-way pur
chased and other Investments.
Output.— All the coal shipped has been taken from the Island Creek
scam, as heretofore. Work has now been begun in opening the 5-foot scant,
which underlies the whole property, but as yet the 4-foot seam is 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 tocare for any depreciation in our equipment, Ac.
Tons of Coal Produced to Date — Years ending June 30.
Total.
1909-10. 1908-09. 1907-08. 1006-07. 1005-06. 6 Mos. ’05
4,197,266 1,414,822 1.250,400 768,173
464,923
237,433
61,509
Tons of Coal Produced During Last Four Months of Year.
1910.
1009.
1908. I
1010.
1909.
1908.
M arch ____144,635 118,276 68,379 M a y _______ 150,385 103,780
73,177
April______ 160,607 124,092 *28,414 |June ______ 149,844 92,009 78,805.
* Operations partially suspended owing to floods.
Plan . — The net earnings for the past two years and the increasing busl
ness lead your directors to believe that some portion, at least, of the earn
ings may be fairly distributed among the stockholders. The growth of the
business will require from time to time investments either for enlarging the
output of coal or for providing additional facilities for Its distribution.
Within the earnings, all ordinary improvements and enlargements can un
doubtedly be tlnanced. Extraordinary additions ought to be financed out
side of the earnings.
> flg
Under the present mortgage upon the coal property there are now out
standing $1,495,000 of bonds. These bonds are convertible into stock,
par for par, and are also callable an and after May 15 1911, at the option of
the company. Your directors believe that It Is for the best Interests of thecompany that these bonds bo called for payment May 15 1911, until which
date they may be exchanged for stock, par for par.
--. ^ i
The proflts of your companies for the last two years have exceeded $300,
000 per annum anil these proflts arc constantly increasing. Your directors;
believe that with the retirement of the bonds at least $300,000 per annum
can be properly distributed among the stockholders.
A plan lias been prepared to provide for any future financing and also
meet the present situation. We enclose a circular of the Island Creek Coal1
Co. (see a following page.— E d.), offering to all the stockholders and bond
holders of the U. S. Coal A Oil Co. an exchange upon the following basis;
(a) For each 18 shares of the U .S . Coal A Oil Co. stock, 5 pref. shares and
10 common shares of the new company, (b) For each $450 of bonds, 5
pref. shares and 10 common shares of the new company.
Your directors believe that It is for the best Interests of the holders to
make this exchange and have agreed to exchange their own stock and bonds
upon the terms offered. The holders of a substantial majority of the capital
stock and bonds have agreed to transfer to the new company all thcir.stock
anil bonds upon the above basis.
C O N S O L ID A T E D IN C O M E A C C O U N T .
19 0 0 -10 .
Net earns, of main and subsiil. cos.
from coal and misccll. oper. (lncl.
net proflts on sale of lumber, A c .). .
19 0 8 .
190 7.
$ 2 ,6 3 9 ,2 8 1
$ 1 ,8 3 9 ,0 6 3
$ 1 ,9 6 7 ,9 6 0
1 ,3 1 9 ,6 5 7
4 7 3 ,3 2 5
5 1 6 ,9 7 7
7 4 ,2 3 3
7 5 ,3 2 1
7 6 ,3 7 1
$ 1 ,3 9 3 ,8 9 0
$ 1 ,2 4 5 ,3 9 1
1 1 ,5 7 4
$ 5 4 8 ,6 4 6
$ 1 ,2 9 0 ,4 1 7
S 5 9 3 .3 4 8
$ 1 ,3 7 4 ,6 1 2
T o t a l n e t i n c o m e _____ $ 1 , 1 9 7 , 1 8 1
Deduct—
T a x e s ____________ _______
$ 3 1 1 ,0 0 0
In te re st on 1st m tg e . 4 s ..
4 3 2 ,6 6 7
D i v s . o n p r e f e r r e d s t o c k * ( 4 ) 4 0 0 ,0 0 0
D e p r e c i a t i o n c h a r g e s . ................................ ...
$ 1 ,2 5 6 ,9 6 5
$ 1 ,2 9 0 ,4 1 7
$ 1 ,3 7 4 ,6 1 2
$ 3 1 0 ,7 5 3
$ 3 3 2 ,2 7 3
4 7 2 ,0 0 0
4 7 2 ,0 0 0
( 4 )4 0 0 ,0 0 0 (4 ^ ) 4 5 0 ,0 0 0
5 0 ,0 7 7
5 0 ,0 2 4
$ 2 9 5 ,8 4 2
4 7 2 .0 0 0
( 4 ) 4 0 0 ,0 0 0
3 8 ,5 7 0
$ 1 6 8 ,2 0 0
B a l a n c e .......... ...........................
R e n e w a l f u n d ____________
$ 5 3 ,5 1 4
_______
$ 2 ,6 1 5
$ 7 ,6 4 0
B a l a n c e , s u r p l u s - .............
$ 5 3 ,5 1 4
$ 2 ,6 1 5
$ 7 ,6 4 0
100.000
$68,200
* T h e s e a r e 1 2 m o s . ’ d i v s . , w h i c h a r e d e d u c t e d b y t h e c o m p a n y in t h e
r e p o r t fr o m p r o fit a n d lo s s , b u t a r e h e r e s h o w n f o r t h e s a k e o f s i m p li c it y .
1 9 0 8 -0 9 .
10 0 7 -0 8 .
;
$ 4 4 8 ,8 9 0
$ 3 9 1 ,5 4 2
$ 3 1 3 ,0 4 2 -
$ 4 5 ,9 5 2
$ 4 9 ,7 5 3
$ 3 9 ,8 2 8
r. ,
7 9 ,3 7 3
7 9 ,7 8 1
5 0 ,8 9 1
7 2 ,5 2 7
6 3 ,0 5 7
Deduct—
Administrative and general expenses.
Int. on 1st M. bonds, Ac., less int. re
ceived on bank deposits-......... ........
Reserve for extinguishment and ileprec’n of coal prop’s, transportation
plants, river and RR. equip., Ac. .
Expenses of underwriting and Issue of
first mortgage bonds_____ _____
____
Total deductions__________________
Balance, surplus________________ ____
$ 1 9 7 ,8 5 2
$ 2 5 1 ,0 3 8
U
3 7 ,9 5 9
$ 1 9 2 ,5 9 1
$ 1 0 8 ,« 5 1
BALAN CE SH EET JU N E 30.
-Year end. July 3 1 --------------------19 0 9 .
T o t a l e x p e n s e s ________
$ 7 4 6 ,1 9 7
N e t e a r n i n g s ................ ...............$ 1 , 1 9 7 , 1 8 1
O t h e r I n c o m e _____ ______
_______
091; terminal railroad, S540.000; floating equipment, $88,751; electric plant,
machinery and tools, $82,000; and expenditure on improvements and betterments
since July 31 1909 (less sundry sales of old equipment), $125,580; total as above,
$29,172,422.
6See text above as to changes in system of accounting.
c Reserve for cost of delivering merchandise In store.
((After deducting $58,959 (being the amount of accrued charges In previous years
not realized, less $100,000 reserved therefor July 31 1909); also $14,700 for other
adjustments (net); total deductions, $73,659.— V. 90, p. 1365.
j\SS€tS^~“
1909-10.
1908 - 0 9 .
$
$
Property acc’t--4,232,003 3,986 ,012
Sk. fd. IstM.bds.
43,588
15 , 8 9 7
C a s h -...............
609,282
567 ,6 9 5
2 1 4 ,1 9 7
Acc’ts receivable 318,422
Coal In transit,
Ac. (cost)-----80,688
155
Inventories (cost) 167,607
166
Uncxpired ins.,
8 ,3 1 9
taxes, Ac-----4,276
T o t a l ...................... 5 , 4 5 5 , 8 0 6
-V . 9 1, p . 878.
5 ,1 1 3 .5 6 7
19 0 9 -10 .
Liabilities —
$
’
C a p i t a l s t o c k ___3 , 0 0 5 , 0 0 0
1 s t M . b o n d s ___1 , 4 9 5 , 0 0 0
A c c ’ ts p a y a b l e .4 3 ,4 1 5
A c c r ’d p a y - r o l ls .
A c c r ’d in t e r e s t . A c c r ’ d t a x e s ------D e p r e c ’n f u n d s .
—
S u r p l u s ............. .........
6 4 6 ,4 1 6
T o t a l ------ -------- 5 , 4 5 5 , 8 6 0
5 ,1 1 3 ,5 0 7
National Casket Co., Now York.
(Statement of June 30 1910, Filed in Massachusetts.)
19 10 .
A ssets—
$
R e a l e s t a t e ....................1 ,5 7 8 ,9 4 7
M a c h i n e r y ......................
5 0 7 ,3 1 5
M e r c h a n d i s e ....................1 ,6 8 4 ,9 6 9
C a s h A d e b t s r e c e i v . 1 ,3 2 2 ,2 0 6
G o o d w il l .t r a d e - m a r k s
a n d p a t e n t s ................. 1 ,8 9 5 ,1 0 6
190 9.
$
1 ,4 4 7 ,8 0 6
4 8 1 ,7 9 6
1 ,8 1 8 ,1 7 2
1 ,3 0 5 ,7 0 2
19 10 .
190 9.
Liabilities—
s
J * f$ 4 * 1
C a p i t a l s t o c k ..................4 ,3 8 4 ,3 0 0 4 ,3 8 4 ,3 0 0
A c co u n ts p a y a b le .- .
1 6 ,5 3 9
* .1 1 ,9 0 9
B a l a n c e , p r o f l t A l o s s 2 4 9 ,6 3 0 J ' 2 7 7 ,3 5 6
F u n d e d I n d e b t e d n e s s 7 9 3 ,5 0 0 x 8 4 8 ,5 0 0
S u r p l u s ........................
1 ,5 4 4 ,5 7 4 1 ,4 8 6 ,4 2 7
1 ,8 9 5 ,1 0 6
T o t a l ___________ 6 ,9 8 8 ,5 4 3 7 ,0 0 8 ,5 8 2
— V . 89, p. 1140 .
T o ta l
- 6 ,9 8 8 ,5 4 3 7 ,0 0 8 ,5 8 2
THE CHRONICLE
O c t . 8 1 910.]
G E N E R A L
IN V E S T M E N T
9L5
N E W S
RAILROADS, INCLUDING ELECTRIC ROADS.
Ann Arbor RR.— Decision Nullifying State Demurrage circular says:
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 intcr-State traffic, and
that its power to promulgate rules of that character is limited
to cases where property is transported between points within
the State.
T h e A s s o c ia tio n o f N a t io n a l R a ilr o a d C o m m is s io n e r s a n d t h e I n t e r - S t a t e
C o m m e r c e C o m m is s io n a d o p t e d a s e t o f r u le s w h ic h w e n t in t o c i le c t o n
' M arch I 19 10 .
T h e S t a t e R a ilr o a d C o m m is s io n , c la im in g ; t h a t t h e a f o r e
s a id r u le s w o r k e d a h a r d s h ip o n t h e s h ip p e r , in s is t e d o n t h e e n fo r c e m e n t o f
t h e r u le s f r a m e d b y it in 1 9 0 9 .
T h e c o m p a n y , a c tin g fo r its e lf a n d o th e r
c o m p a n i e s , c a r r ie d t ir e c a s e t o t h e S t a t e S u p r e m e C o u r t .
T h e C o m m is s io n ,
i t is s t a t e d , w i l l t i k e t h e c a s e t o t h e U n i t e d S t a t e s S u p r e m e C o u r t . — V . 9 0 .
p. 110 1.
Atlanta 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.
Boston & Maine RR.— Improvements.— The directors have
decided to proceed with the expenditure of $10,000,000 for
new equipment, track and bridge improvement, &c.— V. 91,
p. 864, 716.
.
Control by New York New Haven & Hartford R R .— See re
port of that company on a preceding page.— V .9 0 , p. 864.
Boston Railroad Holding Co.— See New York New Haven
& Hartf. R R . under “ Annual Reports” above.
I ’rct. StocX. T h e c o m p a n y h a s a p p l i e d t o t h e M a s s a c h u s e t t s R a i l r o a d
C o m m i s s i o n e r s f o r p e r m i s s i o n t o is s u e $ 2 0 ,0 1 2 ,0 0 0 4 % p r e f . s t o c k in e x
c h a n g e fo r th e o u ts ta n d in g 4 %
b o n d s t o t h e s a m e a m o u n t h e ld b y t h e
N e w H a v e n r o a d , In a c c o r d a n c e w i t h t h e l a w p a s s e d b y t h e l a s t L e g i s l a t u r e .
( V . 9 0 , p . 1 0 1 2 ) .— V . 9 1 , p . 1 5 3 .
British Columbia Electric Ry., Ltd.— Option of Exchange.
— The company offers to the holders of the 4 ^ % Vancouver
debentures the right to exchange each £1 00 of said
debentures for £ 1 0 2 ^ of the company’s 4 j ^ % 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.— A t 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
Shaughncssy 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:
A t a m e e t ! l g o f t h e d i r e c t o r s in A u g u s t l a s t i t w a s d e c i d e d t o I n c r e a s e
t lie d iv d d e n d o n t h e c o m m o n s t o c k t o 7 % p e r a n n u m , e x c l u s i v e o f t h e 1 %
p a id fr o m la n d r e v e n u e , m a k in g a t o t a l d is t r ib u t io n o f 8 % ( V . 9 1 , p . 3 9 0 ).
Y o u r d i r e c t o r s a r c a w a r e o f t h e f e e lin g a m o n g s t t lie s h a r e h o ld e r s t h a t ,
t a k i n g In to a c c o u n t th e In c o m e a n d f in a n c ia l p o s itio n o f th e c o m p a n y ,
t h i s is s c a r c e l y s u f f i c i e n t , a n d i f l a s t y e a r ’s r e t u r n s b e f a k e n a s a b a s i s ,
t h a t f e e l i n g is n o t u n r e a s o n a b l e ; b u t w e m u s t n o t l o s e s i g h t o f t h e f a c t t h a t
c o n d itio n s m a y n o t c l w a v s b e so f a v o r a b le , t h a t w e m a y h a v e le a n y e a r s ,
a n d t h a t i n s u c h a c o n t i n g e n c y a l a r g e c a s h r e s e r v e w i l l be a s o u r c e o f
c o n v e n ie n c e a n d s tr e n g th .
B u t t h e n , a p a r t fr o m y o u r s u r p lu s e a r n in g s , y o u h a v e e x t r a n e o u s a s s e t s
m d e fe r r e d p a y m e n t s , o r la n d m o r t g a g e s , c a s li p r o c e e d s o f la n d s a le s , a n d
o t h e r it e m s o f a l ik e c h a r a c t e r in p r o c e s s o f r e a li z a t i o n , t h a t m a y b e r o u g h ly
e s t i m a t e d a t $ .> 0 ,0 0 0 ,0 0 0 , w i t h o u t t a k i n g i n t o a c c o u n t y o u r u n s o l d l a n d s ,
a t} d in o r d i n a r y c o u r s e t ld s a m o u n t s h o u ld b e s u b s t a n t i a l l y a u g m e n t e d
w it h in t h e n e x t fe w y e a r s ,
in th e o p in io n o f y o u r d ir e c t o r s t h e b e s t in t e r
e s t s o f t h e c o m p a n y a n d it s s h a r e h o ld e r s w ill b e s u b s e r v e d b y k e e p i n g 1 t a c t
a, c o n s i d e r a b l e p o r t i o n o f t h e s e a s s e t s i n s t e a d o f r e s o r t i n g t o “ m e l o n - c u t
tin g .
A t t h e s a m e t i m e t h e r e is e v e r y r e a s o n w h y t h e s h a r e h o l d e r s o f t h e
p r e s e n t d a y s h o u ld e x p e c t s u c h a d v a n t a g e in t h e w a y o f in c o m e f r o m t h e s e
a s s e t s a s m a y b e p o s d o le , w it h o u t u n d u ly e n c r o a c h in g o n t h e p r in c ip a l,
a n d I t is t h e i n t e n t i o n o f y o u r d i r e c t o r s t o d e t e r m i n e d u r i n g t h e c o m i n g
y e a r h o w t h is c a n b e s t b e b r o u g h t a b o u t .— V . 9 1 , p . n i , 7 1 0 ,7 2 7 .
Chesapeake & Ohio R y .— Bonds.— We are informed that
the amount of 4 ^ % 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 bv the
syndicate.— V. 91, p. 870.
Columbus Delaware & Marion Electric R R .— Interest P ay
ment.— At Columbus, Ohio, on Oct. 1 Judge Kinkead in the
Common Pleas Court authorized Receiver Eli West to pay
to the Cleveland Trust Co., the mtge. trustee, $25,000 as
interest on the $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 4 ^ 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.
Denvor Northwestern & Pacific R y .— Guaranteed EquipNotes Offered.— O ’Connor & Kahler, New York and Chicago
go, are offering at par and int. $140,000 5 % locomotive
equipment trust notes, guaranteed by endorsement by the
American Locomotive Co., dated Aug. 1 1910, maturing
m emt
r it
, T h e s e e q u i p m e n t n o t e s a r e p a r t o f a n I s s u e o f 5 3 4 8 ,0 0 9 a n d a r e s e c u r e d
D y a lie n o n n e w e q u ip m e n t c o n s is t in g o f 20 lo c o m o t i v e s b u ilt b y t h e A m e r i
c a n L o c o m o t iv e C o . (7 M a lle t, 1 2 c o n s o lid a t e d f r e ig h t a n d 1 t e n - w h e e l
p a s s e n g e r lo c o m o tiv e s ) , w h ic h c o s t o r ig in a lly $ 4 3 5 ,7 6 1 .
T h e r a ilw a y c o m v. c ^.si 1 P a y m e n t o f $ 8 7 , 1 5 2 ( o r 2 0 % ) , a n d t h e b a l a n c e d u e is
le p r e s c r it e d b y 58 e q u ip m e n t 5 % n o te s .
T h e H rst in s t a llm e n t o f $ 1 6 ,1 3 5
1 9 1 1 a n d t h e r e m a in d e r in 1 9 q u a r t e r - a n n u a l in s t a ll m e n t s o f
( u ,c A u g . 1 1 9 1 1 t o F e b . 1 1 9 1 6 , b o t h i n c l u s i v e .
T it le to th e
'n c n t r e m a i n s w i t h t h e v e n d o r u n t i l a i l t h e n o t e s a r c f u l l y p a i d . —
V.
UU, p . 6 9 7 .
Detroit United R y .— Option to Subscribe.— Shareholders
desiring to take part in the underwriting at 82
for one year
’ roin
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.
<vo r ls o 1 .-, I s t 4 !^ s a u t h . , $ 2 5 , 0 0 0 , 0 0 0 ; I s s u e d ( i n c l u d i n g $ 9 ,0 2 0 , 0 0 0
t o r e t i r e u n d e r l y i n g l i e n s ) , $ 2 3 ,3 3 3 ,0 0 0 .
,r I b e r s w i l l r e c e i v e 2 % c o m m i s s i o n o n t h e f a c e v a l u e o f a n y o f t h e
5 i ,d u u ,uoo b o n d s w h ic h t h e c o m p a n y m a y o th e r w is e d is p o s e o f; s u b s c r lp t lo n s f o r t h e r e m a i n d e r m u s t b e p a i d in f u l l o n J a n . 1 1 9 1 2 t o t h e c o m p a n y
?? } ° ,
o r(l c r a t t h e B a n k o f M o n t r e a l, N . Y .
T h e co m p an y can can cel
n S r e,? " k e„n t °,n ° r b e f o r e F e b . 1 1 9 1 1 i n c a s e a l l o f t h e $ 1 , 5 0 0 , 0 0 0 b o n d s
a r c n o t u n d e r w r it te n b y J a n . 1 i o n .
S e e a ls o c ir c u la r , V . 9 1 , p . 8 7 0 .
reserve d
Ene R R .— Bonds.— Application was made on Oct. 3 to the
® i i n ^crv*ce Commission at Albany for authority to issue
$1,000,000 general Jien bonds to reimburse the treasury for
amounts expended for coal cars. This will make $36,885,000
general hen 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 S I ,045,000 and the assumption
of certain operating deficits and unfilled orders estimated
to amount to less than $50,000.
T h e u p s e t p r ic e w ill a b o u t c o v e r t h e in d e b t e d n e s s o f t h e r e c c lv e r 5 1 b - n « ,t e c c i r C n , c e r t i f i c a t e s o u t s t a n d i n g , w i t h o u t i n t e r e s t , a m o u n t t o
,u o i.— v . u i, p . o lo .
International & Great Northern R R ,— Adjournment of Sale
I ill M ay 16. 'the depositors of second mortgage bonds
under the agreement dated March 2 1908 have received from
their committee, W . Rmlen 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 d c c r e o f f o r e c lo s u r e a n d s a le u n d e r t h e 2 d m t g e . h a v in g b e e n e n t e r e d
o n M a y 10 19 1 0 , t h e T e x a s L e g is la t u r e e n a c t e d , a n d th e G o v e r n o r a p p r o v e d
a s t a t u t e p u r p o r tin g t o r e q u ir e t h e p u r c h a s e r a t a J u d ic ia l s a le o f a r a ilr o a d
a s a c o n d itio n o f a c q u ir in g th e c o r p o r a te fr a n c h is e , to “ a g r e e to t a k e a n d
h o ld s a id p r o p e r t y a n d f r a n c h is e s , c h a r g e d w it h a n d s u b je c t t o t h e p a y
m e n t o f , a ll s u b s is t in g lia b ilit ie s a n d c la im s f o r d e a t h a n d f o r p e r s o n a l in
j u r i e s s u s t a i n e d in t h e o p e r a t i o n o f t h e r a i lr o a d b y t h e c o m p a n y , a n d b y
a n y r e c e i v e r t h e r e o f , a n d f o r l o s s o f a n d d a m a g e t o p r o p e r t y s u s t a i n e d l ii
t h e o p e r a t io n o f t h e r a ilr o a d b y t h e c o m p a n y a n d b y a n y r e c e iv e r t h e r e o f ,
a n d fo r th e c u r r e n t e x p e n s e s o f s u c h o p e r a tio n . I n c lu d in g la b o r , s u p p lie s
a n d r e p a ir s .”
T h e e f f e c t o f s u c h l e g i s l a t i o n In t h e p e n d i n g f o r e c l o s u r e w o u l d b e t o s u b
o r d i n a t e t h e 2 d m t g e . d e b t t o c l a i m s s o l o o s e l y s p e c i f i e d , in t h e e v e n t o f
PJ1 y o u r b e h a l f ; o r i n t h e e v e n t o f a p u r c h a s e b y t h i r d p a r t i e s , t o
.
i Sk
t h e a m ° u.n t ot t*10 b i d a p p l i c a b l e t o y o u r d e b t b y s u c l i s u m a s
n ',° T Ici
t 0 ,;;. T C IoI j h 9 ? c c l < a ln is.
T h e A c t Is g e n e r a l l y k n o w n in
t ,h » a
9 * l o n a l & G r e a t N o r t h e r n b i l l ; ” a n d i t Is c o m m o n l y
s a id t h a t t h e A c t w ill b e r e p e a le d a s s o o n a s t h is f o r e c lo s u r e s a le s h a ll h a v e
ta k e n p la c e .
I n a d d i t i o n t o s o m e $ 7 0 0 ,0 0 0 o r $ 8 0 0 ,0 0 0 o f c l a i m s w h i c h
m i g h t , u n d e r t h e o r d i n a r y p r o c e d u r e , lie e n t i t le d t o a p r e f e r e n c e o u t o f
p t o c c e d s o f s a l e , $ 3 ,0 0 0 ,0 0 0 Is e s t l m a i e d a s t h e m i n i m u m s u m a t t e m p t e d
to b e p r e fe r r e d to y o u r c la im s b y t h is la w .
W h ile r e c o g n iz in g t h e d o u b t a s to t h e v a l i d i t y o f t h is le g is la t io n , y o u r
c o m m lt t c e h a s n o t f e lt it p o s s ib le t o c a u s e a s a le t o b e h a d u n d e r p r e s e n t
c o n d itio n s .
I f y o u r c o m m it t e e s h o u ld p u r c h a s e ( a n d n o o t h e r p o s s ib le
b i d d e r i s k n o w n t o t h e m ) , I t w o u l d b e In I g n o r a n c e o f t h e a m o u n t o f c l a i m s
w h i c h t h e p u r c h a s e r w o u l d b e c a ll e d u p o n t o a s s u m e — a v e r i t a b l e l e a p in
th e d a r k .
A re fu s a l o f th e p u rc h a se r to a g re e to a s s u m e th e u n se c u re d
d e b t w o u l d , a s y o u r c o m m i t t e e Is a d v i s e d , r e s u l t I n I m m e d i a t e p r o c e e d i n g s
o n th e p a rt o f th e S t a t e , a c c o m p a n ie d w it h o u t d o u b t b v a p p lic a t io n fo r
th e a p p o in tm e n t o f a r e c e iv e r .
M o r e o v e r , it w o u ld b e I m p o s s ib le f o r t h e
p u r c h a s e r to is s u e a n y s e c u r itie s w it h o u t t h e p e r m is s io n o f t h e T e x a s R a i l
r o a d C o m m is s io n , w h ic h w o u ld h a r d l y b e g r a n t e d in t h e f a c e o f a r e f u s a l
to a s s u m e th e d e b ts , a s p r e s c r ib e d b y t h e n e w s t a t u t e .
A g a in , n ew b o n d s,
w h e t h e r Issu ed f o r t h e c a s h r e q u ir e m e n ts o f fo r e c lo s u r e a n d r e o r g a n iz a tio n ,
n e c e s s a r y im p r o v e m e n t s a n d to p a y o ir c la im s r e a ll y e n t it le d t o a p r e f e r c n e e , o r Is s u e d t o t h e d e p o s it o r s t o r e p r e s e n t y o u r I n t e r e s t s in t h e p r o p e r t y ,
w o u ld a lik e b e s u b je c t to t h e p r o v is io n s o f t h e la w .
U n d e r a ll th e s e c o n d it io n s y o u r c o m m itt e e , w it h t h e g r e a t e s t r e lu c t a n c e ,
h a s o b t a i n e d a n a d j o u r n m e n t o f t h e s a l e t o M a y 1 6 1 9 1 1 In t h e h o p e t h a t
a t t h e n e x t s e s s io n o f t h e T e x a s L e g i s l a t u r e b e g i n n i n g in J a n u a r y 1 9 1 1 a
m o r e e n lig h te n e d p u b lic s e n tim e n t m a y c a u s e s u c h a m o d ific a t io n o f t h e
la w a s w ill m a k e It p o s s ib le t o r e o r g a n iz e t h e p r o p e r t y .— V . 9 1 . p . 8 7 1 , 6 5 5 .
International Traction Co., Buffalo, & c .— The committee,
Robert L. Fryer, Chairman, representing holders of 50-}rear
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.
S u c h I n te r e s t w ill b e a d v a n c e d t o t h e h o ld e r s o f c e r t i fic a t e s o f d e p o s it
u p o n p r e s e n ta tio n th e r e o f a t th e o ffic e s o f J . P . M o rg a n & C o .. 23 W a ll S t .
t h e M a n u fa c tu r e r s & T r a d e r s N a t . H a n k , B u ff a lo , N . Y . , o r t h e U n it e d
S t a t e s T r u s t C o ., L o u is v ille , K y ( V . 9 0 , p . 1 6 7 5 ) .— V . 9 1 , p . 3 8 .
Lancaster Oxford & Southern R R .— Interest Unpaid.—
l he 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 R y .— New Receiver.— John B. Mun
son, Vice-President and General Manager of the Georgia
Southern & Florida R y ., was on Oct. 1 appointed receiver
for the Macon & Birmingham, succeeding the late Samuel F.
Parrott.— V. 86, p. 337.
Macon (Ga.) Railway & Light C o.— Dividends— Increase'
Proposed.— President W . J. Massee on Sept. 30 1910 wrote:
W e h a v e p a i d o u r u s u a l 6 % o n p r e f . s t o c k [ $ 3 0 0 ,0 0 0 ] f o r 1 9 1 0 , 3 % h a v i n g
b e e n p a id A p r il 1 a n d 3 % p a id t o - d a y .
W e h a v e o rd e re d a d iv id e n d o f
6 % p a id o n t h e c o m m o n s t o c k [ $ 9 0 0 ,0 0 0 ] :3 % o f t h i s w a s p a id J u l y
1, 1 J4%
THE CHRONICLE
946
o a k l t o - d a y a n d 1 H % w ill b e p a id J a n . 1 .
T h e c o m p a n y w ill b e p u t on a n
8% b a s is t o r Its c o m m o n s t o c k a f t e r J a n . 1 . p a y a b l e 2 % q u a r . — V . 8 0 . p .5 2 9 .
Manistique R y .— Trustee’s Sale.— The road has been sold
at trustee's sale to John Millen, Vice-President and General
Manager of the Duluth & Northern Minnesota R R ., who is
said to represent the bondholders.
I t Is u n o f f i c i a l l y r e p o r t e d t h a t t h e p u r c h a s e r s I n t e n d t o a b a n d o n t h e
r o a d , m o s t o f th e t im b e r h a v in g b e e n c u t d o w n .
T h e D u lu th & N o rth e rn
M i n n e s o t a Is a l s o c o n t r o l l e d b y t h e A l g e r - S m l t h I n t e r e s t s . — V . 9 1 . p . 5 1 9 .
Minneapolis & St. Louis R R .— 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. W ier.— V .91,p .790.
National Railways of Mexico.— See “ Annual Reports.”
First Preferred on 4 % Basis.— The stockholders at the
annual meeting authorized the directors to declare an extra
dividend of 1 % on the $28,830,200 non-cumulative 4 % first
pref. stock, payable at their option. This is done in order
to bring the dividend payable out of the earnings of the fiscal
year ending June 30 last up to 4 % , the previous distributions
having been 2 % in Aug. and 1 % in Feb. last. From Aug.
1908 to Aug. 1909 payments were at the rate of 1 % semi
annually.— V. 91, p. 717, 589.
New England Investment & Security Co.— Guaranteed
Motes.— See New York New Haven & Hartford RR. under
“ Annual Reports” above.— V . 90, p. 503.
New Jersey & Hudson River R R . & Ferry Co.— Bonds.—
The New Jersey authorities have approved the issuance of
8100,000 additional 4 % mtge. bonds for extensions, addi
tions, &c.— V. 91, p. 95.
Newport & Richford R R .— Sale of Bonds.— To refund the
$350,000 1st M. 5s, due Jan. 1 1911, there have been sold to
bee, Iligginson & 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 & 1 rust Co.
is mortgage trustee.
T h e r o a d e x t e n d s fro m N e w p o r t, V t .. to th e C a n a d ia n lin e , 2 1 m ile s , a n d
It h a s b e e n o p e r a t e d u n d e r le a s e s in c e J u n e 8 18 8 1 b y t h e M o n tr e a l « A t
l a n t i c R y . . w h i c h In t u r n Is o p e r a t e d f o r I t s o w n e r s b y t h e C a n a d i a n P a c . K y .
New York New Haven & Hartford R R .— Earnings— Guar
anties.— See “ Annual Reports.”
Annual Meeting.— The shareholders will vote at the annual
meeting on Oct. 20 on—
[VOL. L X X X X I.
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.
T h e r o a d e x t e n d s fr o m W h e e lin g J u n e , to H e n w o o d , W . V a . , 28 m ile s ,
a n d i t Is o p e r a t e d b y t h e P i t t s . C l n . C h i c . & S t . L o u i s .
R e n ta l, n e t e a r n
in g s .
C a p i t a l s t o c k , a u t h . $ 6 0 0 ,0 0 0 ; I s s u e d , $ 5 0 1 , 2 5 0 ( In $ 5 0 s h a r e s )
of
w h i c h $ 2 5 5 ,3 0 0 Is o w n e d b y t h e P e n n s y l v a n i a C o m p a n y .
B o n d s a t la s t
a c c o u n t s , $ 6 9 ,0 0 0 1 s t M . 6 s , d u e J a n . 1 1 9 3 4 .
F o r th e c a le n d a r y e a r g ro s s
e a r n in g s w e r e $ 4 3 6 ,7 3 3 ; n e t . $ 1 3 6 ,5 8 6 : o t h e r I n c o m e , $ 1 7 ,6 7 4 : in t e r e s t .
s i n k in g 1 f u n d a n d h ir e o f e q u i p m e n t , $ 4 0 ,5 9 2 ; d i v i d e n d s ( N o s . 7 0 a n d 7 1
p a i d A p r i l 1 a n d N o s . 7 2 a n d 7 3 O c t . 1 ) , $ 6 0 , 1 5 0 ; a d d i t i o n s , &c., $ 1 0 , 2 0 7 ;
D a l ., s u r . , $ 4 3 , 3 1 1 .
T o t a l s u r p lu s D e c . 3 1 1 9 0 9 , $ 4 0 0 ,1 5 9 .
Providence Warren & Bristol R R .— 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.
T h e r o a d is l e a s e d t o t h e O l d C o l o n y a t a r e n t a l n o w n e t t i n g 6 % o n t h e
s t o c k , t h e le a s e b e in g a s s u m e d b y t h e N e w H a v e n r o a d .
T h e le s s e e o w n s
over 75%
o f t h e s t o c k , c o n s i s t i n g h e r e t o f o r e o f $ 1 5 0 ,0 0 0 p r e f e r r e d a n d
$ 2 8 7 ,3 0 0 c o m m o n .— V . 8 8 , p . 1 1 2 9 .
Public Service Corporation of New Jersey.— Neiv Notes Of
fered.— Potter, Choate & Prentice offered this week, at a
price to net the investor 5 b j% , the unsold portion (less than
$500,000) of a block of $1,500,000 of the new collat. 5 % notes.
T h e s e n o te s a r e d a te d O c t. 1 1 9 1 0 a n d d u e O c t. 1 1 9 1 3 , b u t r e d e e m a b le
a t o p tio n o f c o m p a n y a t p a r a n d ln t. o n a n y In te r e s t d a t e u p o n 30 d a y s
n o tic e .
In t. p a y a b le A . & O .
F l d t l l t y T r u s t C o .. I h i la ., t r u s t e e ,
to ta l
a u t h o r i z e d a n d I s s u e d , $ 4 ,0 0 0 ,0 0 0 .
S e c u r e d b y a d e p o s it w ith th e t iu s t e e
tJ a n tia lly a s s ta te d
In V . 8 9 , p . 1 3 4 9 .
S e c a ls o V . 9 0 , p . 6 9 9 ).
Earnings Jor Seven Months ended .lulu 3 1 1 9 1 0 and 1 9 0 9 .
19 10 .
S
C r o s s ,o p e r .c o s . 1 5 ,0 8 4 ,0 8 7
P u b lic S e r v ic e
m is c . I n c . - .
8 9 8 ,5 1 0
T o t a l I n c ___1 5 , 9 8 2 , 5 9 8
19 10 .
19 0 9 .
S
1 3 ,9 3 6 ,7 6 3
7 8 1 ,2 8 0
1 4 ,7 1 8 ,0 4 3
$
N e t , a f t e r t a x e s 7 ,7 5 2 ,6 0 5
F ix e d c h a r g e s ,
o f o p e r . c o s . 6 ,0 5 7 ,9 0 9
I n t. P .S .C o r p .
9 5 7 ,1 0 0
S u r p l u s ____
7 3 7 ,5 2 9
3 0 9 .3 5 3
T h e s u r p l u s ( $ 7 3 7 , 5 2 9 ) f o r t h e 7 m o n t h s e n d . J u l y 3 1 1 9 1 0 Is e q u a l t o
o p e r a n n u m o n t h e $ 2 5 ,0 0 0 ,0 0 0 o u t s t a n d i n g c a p i t a l s t o c k .
C o m p are
V . 9 1 , p . 8 7 1; V . 90, p . 12 9 3 .
Second Avenue R R ., New York City.— Receiver’s Certifi
cates 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 following statement:
T h e $ 2 ,5 0 0 ,0 0 0 c e r t i t l c a t e s a r c t o b e a r I n t e r e s t a t n o t e x c e e d i n g 0 % , b u t
th e r a t e h a s n o t b e e n d e iln lt e ly llx e d .
T h e p r o c e e d s w i l l n o t b e u s e d In
p a y m e n t o f t h e I n t e r e s t d u e N o v . 1 o n $ 3 ,6 8 2 ,0 0 0 5 % c o n s o l, m t g e . b o n d s ,
b u t w ill b e u s e d t o r e t ir e $ 1 ,2 8 0 ,0 0 0 g e n e r a l c o n s o l. 5 s , m a t u r i n g N o v . 1
1 9 1 0 , a n d $ 5 0 0 ,0 0 0 r e c e i v e r ' s c e r t i f i c a t e s w h i c h c a m e d u e O c t . 1 1 9 1 0 ,
1. I n c r e a s in g th e b o a rd o f d ir e c to r s to 27 m e m b e rs .
.
,
2
A p p r o v i n g t h e p u r c h a s e o f t h e f r a n c h i s e a n d p r o p e r t y o f t h e B e r k a p p r o x i m a t e l y $ 5 4 5 ,0 0 0 f o r f r a n c h i s e t a x e s , a n d t h e b a l a n c e t o I m p r o v e
t
h e r o a d a n d e q u ip m e n t.
,
s h ir e R R . C o ., t h e N e w H a v e n & N o r th a m p to n C o . a n d th e R h o d e Is la n d
In h is a p p li c a t io n t o th e C o u r t , th e r e c e iv e r d k l n o t p r e d ic t a n I n c r e a s e
& M a ss a c h u se tts H R .
S e e a fo r e s a id r e p o r t .— V . 9 1 , p . 8 7 1 , 3 3 7 .
o f $ 2 5 0 ,0 0 0 p e r y e a r i n e a r n i n g s a s a r e s u l t o f t h e n e w t e r m i n a l a t W o r t h S t . ,
New York & Stamford R y .— First and liefunding Bonds b u t p r e d i c t e d t h a t t h e n e t e a r n i n g s o f t h e s y s t e m w o u l d b e c o n s i d e r a b l y
e x c e s s o f $ 2 5 0 ,0 0 0 a n n u a l l y a f t e r t h e n e w t e r m i n a l w a s In o p e r a t i o n a n d
Guaranteed.— See “ new guaranties” in report of N. Y . N . H . In
th e p r o p e r t y Im p ro v e d b y r e p a ir s .
[ I t w a s r e c e n t ly a r r a n g e d to s e tt le th e
p a s t d u e s p e c ia l f r a n c h is e t a x e s f o r $ 5 4 4 ,8 5 4 — E d . ) — V . 9 1 , p . 5 1 9 , 3 9 8 .
& Hartford R R . on a preceding page.— V. 88, p. 1197.
Spokane & Inland Empire (Electric) R R .— Bonds— Earn
Pacific & Eastern R y .— Offer to Purchase Bonds.— Offers,
it is stated, have recently been made to bondholders to pur ings.— The Milwaukee (W is.) Trust Co. in offering the “ first
chase bonds at 80 by the Hill interests, who are now in and refunding” 5s at a price to yield over 5 % , reports:
control. There are $300,000 1st M . 6s outstanding, which are
Earnings {or the near ended Dec. 3 1 1 9 0 9 .
subject to call after June 1917 at 105.— V . 90, p. 1614.
.............. $ 1 , 6 0 8 , 4 8 9 | A n n ’ l l n t . o n b o n d s o u t s f g $ 2 4 7 , 4 5 0
G ro s3 e a r n in g s ..
N e t (a fte r ta x e s)
$ 6 3 3 , 9 5 5 1S u r p l u s e a r n i n g s .
..........
$ 3 8 0 ,5 0 5
Pennsylvania Company.— Galled Bonds.— Notice is given
C a s h c o s t o f p r o p e r t ie s a g a in s t w h ic h $ 1 ,9 4 8 ,0 0 0 b o n d s h a v e b e e n Is s u e d
that $1,334,000 certificates of the 3 lA % gohl loan of 1901, is r e p o r t e d b y A u d i t C o . o f I l l i n o i s t o b e In e x c e s s o f $ 1 0 , 3 5 0 , 0 0 0 . — V . 9 0 ,
maturing Nov. 1 1916, have been called for redemption at p . 9 7 8 .
Southern Railway.— Neiv Vice-Presidents.— Secretary R.
the Girard Trust Co., Phila., on Nov. 1.— V. 90, p. 1421
D. Lankford has also been elected a Vice-President as
Pennsylvania R R .— Service under IIudson Iiiver Nov. 27.—
well. JO. H. Coapman is now Vice-President and General
The formal opening of the tunnel extension from Harrison
Manager in charge of operation and maintenance.— V. 91,
N . J., to Pennsylvania Station in New York is set for Nov. 27
p. 718.
— V. 91, p. 655, 397.
Tennessee Central R R .— Neiv Officers.— H . B. Chamber
Pere Marquette RR . — Offering of Guaranteed Equipment
Trust Notes.— O’Connor & Kahler, New York and Chicago, lain has been elected a director and lOben Richards has been
made Chairman of the Board, both to succeed Col. S. M.
are offering, at prices to net the investor either 4 14 or 4 % %
Felton. J. S. McHenry has been made Treasurer.— V. 91,
for the earlier maturities and 5 % for the later, $165,000 5 %
locomotive equipment trust notes, guaranteed by endorse p. 718.
Wabash-Pittsburgh Terminal R y .— Report of Chaplin Com
ment by the American Locomotive Co., dated July 1 1910,
maturing $15,000 quarterly beginning Jan. I 1911 and ending mittee.— The first mortgage bondholders’ committee organ
July l 1913. Int. Q .-J. P. & i. payable at office of Harvey ized in July 1910, consisting of James C. Chaplin, Chairman;
Meigs H . Whaples, William I I . Nicholson, Clarence L. Har
Fisk & Sons, N . Y . City. Par $5,000 (c ). A circular says:
per and Richard Sutro, reports as of Sept. 22:
T h e s e n o t e s a r e p a r t o f a n I s s u e o f $ 1 7 7 ,9 5 6 a n d a r e s e c u r e d b y a lie n o n
n e w e q u ip m e n t c o n s is tin g o f 15 n e w lo c o m o tiv e s b u ilt
L o c o m o t iv e C o . (5 p a s s e n g e r . 5 c o n s o lid a t e d f r e ig h t a n d 5
in g l o c o m o t i v e s ) , w h ic h c o s t $ 2 3 7 ,2 7 5 , t o w a r d s w h ic h t h e
m a d e a c a s h p a y m e n t o f $ 5 9 ,3 1 8 , o r 2 5 % o f t h e c o s t .
Th
o f $ 1 2 ,9 5 6 w ill b e d u e o n O c t . 1 1 9 1 0 , a n d t h e r e m a in in g
$ 1 5 ,0 0 0 e a c h m a t u r e a s a b o v e .
T it le to t h e e q u ip m e n t
v e n d o r u n til t h e n o te s a r c f u lly p a id .
Report.— For year ending June 30:
Fiscal
dross
Net (alter
Other
Year
Earnings.
Taxes).
Income.
19 0 9 -10
$ 1 6 ,5 4 2 ,2 7 1
19 0 8 -0 9
1 4 :6 2 9 :8 2 7
— V . 90, p. 7 7 2 .
$ 3 ,0 8 7 ,7 8 8
3 :4 7 1 ,3 5 4
d e b . $ 1 6 ,8 2 0
c r .2 3 8 ,2 0 9
b y th e A m e ric a n
s lx - w h c c l s w itc h
r a ilr o a d c o m p a n y
e fir s t I n s t a llm e n t
11 I n s t a llm e n ts o f
r e m a in s w it h t h e
Interest
& Rentals.
$ 3 ,6 0 1 ,2 5 4
3 ,6 6 8 ,9 1 2
Italance
Surplus
$ 4 6 9 ,7 1
4 0 ,6 5 1
Philadelphia Rapid Transit Co.— M r. Wolf Resigns.— State
Senator Clarence Wolf has resigned as Vice-President and
director, owing to the pressure of other business. He has
been succeeded as director by President Charles O. Kruger
Petition to M r. Stotesbury.— 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:
.
T h i s m o v e Is m a d e w i t h t h e k n o w l e d g e a n d a s s e n t o f t h e p r e s e n t o f f i c e r s
a n d d ir e c to r s a n d w ith th e a s s u r a n c e t h a t s u ffic ie n t v a c a n c ie s o n th e b o a rd
w ill b e a v a i l a b l e t o e n a b le t h e I n t e r e s t w h ic h m a y c o m e In w i t h y o u t o
c o n t r o l th e p o lic y a n d b u s in e s s , g iv in g th e p r o p e r t y n o t o n ly th e a d v a n t a g e
o f y o u r l a r g e e x p e r i e n c e In b u s i n e s s a n d a s a l l n a n c t e r , b u t a l s o t h e f u l l
m e a s u r e o f p u b lic c o n fid e n c e w h ic h w ill r e s u lt f r o m s u c h p a r t ic ip a t io n
In t h e d i r e c t i o n a n d c o n t r o l . — V . 9 1 p . 7 8 6 , 3 3 7 .
Pittsburgh Wheeling & Kentucky R R .— Extra Dividend.—
The directors recently declared a dividend of 3 % out of
( l)
A t t h e in s ta n c e o f o u r c o u n s e l, w h o p e r s o n a lly p r e s e n te d th e a p p lic a
t i o n b e f o r e t h e U . S . C i r c u i t C o u r t in O h i o , a n o r d e r h a s b e e n m a d e m o d i f y
i n g t h e o r d e r o f A u g . 2 2 1 9 0 8 , w h e r e b y t h e r e c e i v e r o f t h e \\ h e e l i n g & L a k e
E r ie R R . C o . w a s d ir e c t e d to d is c o n tin u e e x c h a n g in g t r a f f ic u n d e r th e
te rm s o f th e tr a ffic a n d tr a c k a g e a g r e e m e n ts .
(2) A n s w e r s h a v e a l s o b e e n
p r e p a r e d b y o u r c o u n s e l a n i l t ile d c o n t e s t i n g t h e f o r e c l o s u r e o f t h e m o r t g a g e
s e c u r i n g t h e $ 8 ,0 0 0 ,0 0 0 n o t e s o f t h e W h e e l i n g & L a k e I '. r l e h e l d b y t h e
W a b a s h R R . , a n d o f th e g e n e r a l m o r tg a g e s e c u r in g th e b o n d s p le d g e d a s
c o lla te r a l fo r th e n o te s .
(3 ) A c r o s s - b i l l h a s a l s o b e e n p r e p a i e d a n d ( l i e d
s e e k in g to c o m p e l th e W h e e lin g & L a k e E r ie a n d th e W a b a s h ro a d s to a c
co u n t fo r th e a m o u n ts d u e u n d e r th e tr a ffic a n d tra c k a g e a g re e m e n ts a n d
to c o m p e l t h e s p c c ltlc p e r fo r m a n c e o f th o s e a g r e e m e n ts f o r th e b a la n c e o f th e
5 0 -y e a r p e r io d .
A n a c t io n h a s a ls o n o w b e e n I n s t it u t e d b y t h e M e r c a n tile
T r u s t C o . , a s t r u s t e e o f y o u r m o r t g a g e , a g a i n s t H ie W a b a s h
t it . C o . to s e
c u r e th e r e t u r n o f th e s t o c k o f th e P it t s b u r g h t e r m in a l H R . & C o a l C o .,
w h ic h w c c la im
w a s p u r c h a s e d w i t h t h e p r o c e e d s o f y o u r b o n d s , a n d , iii
e q u i t y , s h o u ld b e p la c e d a s p a r t c o lla t e r a l u n d e r y o u r m o r tg a g e .
P a p e r s a r e b e in g p re p a re d to c o m p e l a n a c c o u n tin g fro m th e P ltts b u r g h T o le d o S y n d i c a t e , w h ic h o r g a n i z e d y o u r c o m p a n y a n d t r a n s f e r r e d It t o t h e
W abash R R .
P a p e r s a r e a ls o b e in g p r e p a r e d b y o u r c o u n s e l to e n fo r c e
th e s to c k lia b ility o f th e W a b a s h H R ., o n th e g r o u n d th a t th e s to c k o f
y o u r c o m p a n y I s s u e d to th e W a b a s h R R . w a s n e v e r p a id f o r .
T h e c o m m itte e h a s r e c e n t ly m a d e a th o r o u g h p e rs o n a l e x a m in a tio n o f
t h e p r o p e r t ie s o f t h e W a b a s h P i t t s b u r g h T e r m i n a l a n d Its a f f i li a t e d a n d
c o n t r o l l e d c o m p a n i e s , i n c l u d i n g t h e W e s t .S id e B e l t L i n e , P i t t s b u r g h T e r m i
n a l U R . & C o a l C o . a n d W h e e lin g & L a k e E r ie R R .
W e a r c o f th e o p in io n
t h a t th e s e p r o p e r tie s , p r o p e r ly c o n s e r v e d a n d o p e r a te d a s a u n it, h a v e a
g r e a t v a lu e a n il fu tu r e .
W a l l S t . . N . Y . C i t y , a n d S a m u e l U n t e r m y c r , c o u n s e l f o r th e c o m m it t e e .]
Receivers’ Certificates Authorized.— Judge Young iu the
United States Circuit Court at Pittsburgh on Sept. 30 au-
THE CHRONICLE
O c t . 8 1910. j
thorized Henry W . McMaster and Francis K . Skelding to
issue receivers' certificates as follows:
$ 9 7 - 1 ,2 1 1 o f t h e W a b a s h - P i t t s b u r g h T e r m i n a l R y . t o r e t i r e t h e 1 s t lie n
c e r t i f i c a t e s a u t h o r i z e d O c t . 3 0 1 9 0 8 t o t h e s a m e a m o u n t , o f w h i c h $ 8 7 5 ,0 0 0
a r c r e p o r te d to b e o u t s t a n d in g .
$ 7 0 0 ,7 2 0 o f t h e W e s t S id e l i c i t R R . t o r e t i r e t h e s a m e a m o u n t d a t e d
S e p t . 1 1 9 0 8 , w h e n t h e y m a t u r e , o f w h ic h $ 6 1 5 ,0 0 0 a r c s a id t o h a v e b e e n
Issu e d .
A n y o f th e c e r t i f ic a t e s n o t r e q u ir e d t o r e t i r e t h e o ld I s s u e s m a y . It
is s t a t e d , b e u s e d f o r n e c e s s a r y i m p r o v e m e n t s . — V . 9 1 , p . 7 9 1 .
Washington Alexandria & Mt. Vernon R y.— Merger.— The
shareholders will vote Oct. 12 on a joint agreement looking
to the consolidation of the Washington Arlington & Falls
Church R y ., the Washington Alexandria & Mt. Vernon Ry.
Co. and the Washington-Virginia R y. Co.— V . 89, p. 530.
Washington Arlington & Falls Church R y.— Merger.— See
Washington Alexandria & Mt. Vernon R y .— 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:
J o h n L . S e v e r a n c e ( C h a ir m a n ) , G e o r g e A . C r a ig a n d J o h n S h e r w ln , a ll
o f C l e v e l a n d ; J o h n .1 . N e l l l g a n , 3 d V i c e - P r e s . o f S a f e D e p o s i t fc T r u s t C o .
o f B a l t i m o r e ; H l n s d l l l P a r s o n s , w h o Is a s s o c i a t e d w i t h t h e G e n e r a l E l e c t r i c
C o . o f N e w Y o r k , a n d G e o rg e T . B is h o p , o n e o f th e r e c e iv e r s .
D e p o s ito r s
m a y w i t h d r a w w i t h o u t e x p e n s e If d i s s a t is f ie d w i t h t h e p l a n w h e n p r e s e n t e d .
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
R lt ., who recently bought this property at foreclosure, have
sold it at a price reported to be 870,750 cash toC. F. Norment,
President of the City & Suburban R y. Co. (Washington R y.
& Electric Co.).
L e n g t h o f lin e , B e r w y n t o L a u r e l, M d ., 9 m ile s .
A ll o f th e s to c k a n d
a l l t h e $ 2 2 0 ,0 0 0 o u t s t a n d i n g b o n d s w e r e o w n e d b y t h e W a s h i n g t o n B a l t i
m o r e & A n n a p o lis R y . C o .
Washington (D. C.) Ry. & Electric Co.— Purchase.— See
Washington Berwyn & Laurel RIt. above.— V . 90, p. 973.
West Side Belt RR., Pittsburgh.— Receivers’ Certificates.—
See Wabash-Pittsburgh Terminal R y. above.— V . 87, p. 108’
Youngstown & Ohio River RR.— Initial Preferred Divi
dend.— A first dividend of % of 1 % on the 81,000,000 prof,
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. 3 0 .— V. 91, p. 40.
IN D U S T R IA L , GAS A N D M ISCELLAN EO U S.
Albemarle & Chesapeake Canal Co., Norfolk, V a .— Fore
closure.— Federal Judge Edmund Waddill Jr. at Norfolk,
V a ., 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 85 24 ,4 20 .—
V . 90, p. 374.
American Locomotive Co.— Guaranteed Equipment Trusts.
— Sec Pere Marquette R R . and Denver Northwestern & Pa
cific R y. under “ Railroads” above.— V. 91, p. 586.
American Rolling Mill Co., Middletown, O.— Neiv 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 at 8200 per
share for 8500,000 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.— Neio Stock.— The share
holders recently authorized an increase in the capital stock
from 81,000,000 (par of shares 81) to 83,000,000. A San
Francisco paper says:
I t Is I n t e n d e d t o e x c h a n g e t h e n c w ' s t o c k f o r t h e o l d a t t h e r a t i o o f t w o
f o r o n e . If I t i s f o u n d t h a t t h i s a c t i o n w o u l d b e l e g a l , a n d t o p l a c e t h e o t h e r
1 ,0 0 0 ,0 0 0 s h a r e s I n t h e t r e a s u r y , t o b e d e v o t e d l a t e r t o d e v e l o p m e n t p u r
p o s e s If d e s i r e d .
T h e C e n t r a l is n o w p a y i n g d i v i d e n d s a t t h e r a t e o f 1 5 %
a y e a r , a n d I t i s a n t i c i p a t e d t h a t a f t e r t h e n e w I s s u e o f s t o c k Is m a d e t h e
r a t e w ill b e 8 % . — V . 8 3 . p . 1 1 7 2 .
Chicago Pneumatic Tool Co.— Earnings.— The “ Chicago
Record-Herald” of Oct. 4 said:
N e t e a r n i n g s In t h e q u a r t e r e n d e d w i t h S e p t e m b e r w e r e n e a r l y e q u a l t o
th e d iv id e n d r e q u ir e m e n t o f 4 % fo r th e f u ll y e a r .
T h e n e t re p o rte d fo r
J u l y w a s 5 4 5 ,0 0 0 , f o r A u g u s t $ 1 0 0 ,0 0 0 — t h e l a r g e s t t h e c o m p a n y e v e r m a d e
1 1 a m o n t h , a n d f o r S e p t e m b e r 5 6 5 ,0 0 0 , a t o t a l o f $ 2 1 0 ,0 0 0 .
T h e d iv id e n d
a t 4 % c a l l s f o r a l i t t l e l e s s t h a n $ 2 6 0 ,0 0 0 .
T h e e a r n in g s fo r th e fu ll y e a r
a r e e x p e c t e d t o e x c e e d 1 0 % o n t h e $ 6 ,4 8 5 ,0 0 0 o f s t o c k o u t s t a n d i n g .
The
e n n p a n y h a s r e c e n t ly t a k e n s o m e u n u s u a lly la r g e o r d e r s .— V . 9 1 , p . 5 2 0 .
Colorado Fuel & Iron Co., Denver, Col.— Report.— L
year ending June 30:
Fiscal
Year—
Gross
Earnings.
19 0 9 -10
.$ 2 3 ,6 3 9 ,8 1 3
1 9 0 8 - 0 9 --------- 2 0 , 3 4 4 , 6 3 0
— V . 90, p . 110 4 .
Net
Earnings.
Other
Income.
Fixed
Charges,die.
$ 3 ,7 4 2 ,6 1 5
2 ,9 0 1 ,0 1 1
$ 6 2 6 ,9 1 9
4 4 5 ,7 6 1
$ 2 ,8 6 2 ,7 1 6
2 ,4 8 8 ,3 9 6
Consolidated Gas, Electric Light
&
Balance
Surplus
$ 1 ,5 0 6 ,8
8 5 8 ,3
Power Co., Baltimore.
— New Directors Representing Pennsylvania Water A Power
Co.— J. E. Aldrcd, President of Pennsylvania Water &
Power Co. (V . 90, p. .'577, 1558; V. 91, p .4 67) 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 friendly interests
together hold “ virtual control.” The other changes in the
board are:
N e w D lr e c t p r s : N ic h o la s F . B r a d y , s u c c e e d in g h is f a t h e r ( A n t h o n y I ’ .
B r a d y ) ; I I . S . H o lt, E . R . W o o d , C . E . F . C la r k a n d N o r m a n J a m e s , a il,
e x c e p t M r. J a m e s , b e in g I d e n tifie d w it h
P e n n s y lv a n ia W a te r & P o w e r C o .
947
R e tir e d : J . B . D e n n is , F . S . L a n d s t r e e t, W . J .
U n c h a n g e d ; F e r d in a n d C . L a t r o b e , C h a r le s T .
F . H . H a m b le t o n , F . W . W o o d , C h a r le s A d le r ,
F . A . F u r s t a n d T . J . S h r y o c k o f B a lt im o r e , a n d
C a s e y , W . H . C a s s e l.
C r a n e , C h a r le s H . D ic k e y ,
C . M . C o h n , G eo . C a to r,
S . R . B e rtro n o f N . Y .
Earnings.— For fiscal years ending June 30:
Fiscal
Year—
Gross
Earns.
5
Net
(aft.tax.)
$
Fixed
Charges.
$
Pref.
Divs.
$
Common
Dividends.
$
Bal.,
Surp.
$
1 9 0 9 — 1 0 , _ 4 . 6 9 9 , 0 9 7 2 , 4 3 3 , 5 6 4 1 , 3 7 4 , 3 6 2 4 2 3 ,6 0 0 ( 2 % ) 1 2 6 , 0 0 3 5 0 9 , 5 9 9
1 9 0 8 - 0 9 ---------N ot
2 , 2 0 2 , 7 4 4 1 , 3 7 4 , 5 4 7 4 2 3 ,6 0 0
______ 4 0 4 , 5 9 7
1 9 0 7 - 0 8 ---------r e p o r t e d
1 , 8 7 0 , 0 8 5 1 , 2 3 4 , 5 8 6 4 2 3 ,6 0 0
______ 2 1 1 , 8 9 9
O u t o f s u r p lu s , $ 5 0 9 ,5 9 9 , f o r y e a r 1 9 0 9 - 1 0 , $ 2 5 7 ,5 9 6 w a s r e s e r v e d f o r
r e n e w a l s , <5cc., l e a v i n g n e t s u r p l u s f o r y e a r $ 2 5 2 ,0 0 3 .
F ir s t d iv ., 2% , on
$ 6 ,3 0 0 ,1 0 0 c o m . s t o c k , w a s p a id A p r il 2 7 1 9 1 0 ( V . 9 0 , p . 1 0 4 6 ;
JContract.— 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 p a rt:
I
h a v e g iv e n t o C h a r le s Iv . B e e k m a n , N e w Y o r k , a n o p t io n , t o e x p ir e
N ° v * 1 , o n sto c k o f th e c o m p a n y o w n e d b y m e . I a m w r itin g to a fe w o f m y
fr ie n d s , e n c lo s in g a b la n k fo r m o f o p t io n w h ic h g iv e s u s a n o p p o r t u n it y
o f d is p o s in g o f o u r s t o c k a t $50 p e r s h a r e . T h is s e e m s a v e r y fa v o r a b le
b a s is , in v i e w o f t h e f a c t t h a t t h e s t o c k h a s b e e n s e ll in g o n t h e m a r k e t a t a
v e r y lo w p r ic e ,a n d h a s n o t r e c e iv e d a n y d iv id e n d s f o r a n u m b e r o f y e a r s .
— V . 9 1, p . 8 74, 92.
Crucible Steel Co. of America, Pittsburgh.— Report.— For
the year ending Aug. 31:
Fiscal
Year.
Gross
Earnings.
Net
Other
Earnings. Inc.(Net)
Preferred
Divs. (Cash)
Balance,
Surplus.
1 9 0 9 - 1 0 ---------$ 1 8 , 7 8 2 , 7 2 0 $ 3 , 5 2 3 , 4 0 2 $ 1 2 , 4 8 0 ( 7 ^ ) 5 1 , 8 0 2 , 1 9 2 $ 1 , 7 3 3 , 6 9 0
1 9 0 8 - 0 9 --------- 1 2 , 1 2 1 , 6 5 1
1 ,9 9 5 ,4 0 8
1 9 ,5 1 8
( 2 J 4 ) 5 4 9 ,8 2 1
1 ,4 6 5 ,1 0 5
T h e t o t a l u n d iv id e d s u r p lu s o n A u g . 3 1 1 9 1 0 , a f t e r d e d u c t in g t h e 1 0 %
s c r ip d i v i d e n d ( 5 2 ,4 4 3 ,6 5 0 ) p a id l a s t J u n e o n a c c o u n t o f a c c u m u l a t e d d i v i
d e n d s , w a s $ 2 ,4 4 8 ,0 4 0 .— V . 9 1 , p . 8 7 4 .
Development Co. of America, New Y ork.— 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
81.500.000 6 % one-year collateral notes at par to the secur
ity holders of the company and its subsidiaries. The circu
lar says in brief:
A t a m e e t i n g o f t h e b o a r d h e ld In N . Y . C i t y S e p t . 1 4 . t h e o f f i c e r s w e r e
a u t h o r i z e d t o I s s u e $ 1 ,5 0 0 ,0 0 0 6 % o n e - y e a r c o l l a t e r a l t r u s t n o t e s , t o b e s e
c u r e d b y d e p o s it w it h a N e w Y o r k t r u s t c o m p a n y o f t h e f o llo w in g s e c u r itie s
( to ta l p a r v a lu e 5 7 ,7 4 2 ,1 8 3 ) , a n d o f fu r t h e r c o lla te r a l a s s e t fre e o r r e c e iv e d
o n is s u a n c e o f t h e n o te s :
D e v e l. C o . o f A m . b o n d s ..
$ 3 ,0 0 0 ) T o m b s t o n e C o n s o l- 1 B o n d s . $ 1 0 8 , 0 2 0
P o l a n d M i n . C o . b o n d s ____
5 6 ,7 7 5 |
ld a t e d M ln e s C o .l N o t e s ..
4 6 1 ,8 5 2
C c r tfs . o f I n d e b te d n e s s ..1 ,2 1 0 ,9 0 1 1
L t d -----------------------J S t o c k - . 3 , 0 0 5 , 5 1 5
S t o c k ____________________
1 0 6 ,3 8 0 | S a d d le M tn . M in in g b o n d s .
3 ,0 0 0
Im p e ria l C o p p e r C o . s t o c k .
6 , 6 4 0 1 L o o k o u t C o p . C o . s t o c k ____
4 5 9 ,7 0 0
L o n d o n - A r lz . C o p . C o . s t k .2 ,3 2 0 ,3 1 0 |
T h e p r o c e e d s o f t h e n o t e s w i l l b e u s e d In m e e t i n g t h e c o m p a n y ' s r e q u i r e
m e n t s , i n c l u d i n g I n t e r e s t o n b o n d s d u e J u l y 1 1 9 1 0 ; a l s o In m a k i n g f u r t h e r
a d v a n c e s to th e s u b s id ia r y c o m p a n ie s n e c e s s a r y to p r o t e c t t h e ir p r o p e r ty
a n d m a k e th e m re m u n e ra tiv e .
I t w i l l r e q u i r e 5 1 5 0 , 0 0 0 t o $ 2 0 0 ,0 0 0 t o
p r o v e u p T o m b s t o n e ; o r . If c u r r e n t o b l i g a t i o n s a r e t o b e p a i d , 5 3 0 0 , 0 0 0 .
T o m b s t o n e b o n d h o l d e r s w i l l b e a s k e d t o s u b s c r i b e l o r a b o u t $ 3 0 0 ,0 0 0 o f t h e
n o te s.
T h e p u m p s o n t h e T o m b s t o n e ’ s 1 ,0 0 0 f o o t l e v e l h a v e b e e n r e c o v
e r e d : f l o o d i n g a g a i n w o u l d m e a n In a l l p r o b a b i l i t y a s e r i o u s I f n o t a l m o s t
t o t a l lo s s t o t h e b o n d , n o t e a n d s t o c k h o ld e r s , w h o h a v e I n v e s t e d b e t w e e n
f o u r a n d f iv e m illio n s o f d o lla r s .
T h e I m p e r ia l C o p p e r C o .’s b o n d a n d s t o c k h o ld e r s w ill b e a s k e d to s u b
s c r i b e f o r $ 2 0 0 ,0 0 0 o f t h e c o l l a t e r a l t r u s t n o t e s ( e q u i v a l e n t t o 1 0 % o f t h e
c o m p a n y ’ s o u t s t a n d i n g b o n d s ) . In o r d e r t o p r o t e c t a n d t o d e v e l o p t h e i r
p ro p e rty .
A f t e r a fe w m o n t h s s m e lt in g o p e r a t io n s s h o u ld t h e n b e r e s u m e d ,
u n d e r c o n d it io n s I n s u r in g s a t is f a c t o r y n e t r e v e n u e .
I f th e c o lla te r a l tr u s t n o te s a r e ta k e n to a r e a s o n a b le e x te n t, y o u r c o m
m i t t e e a n t i c i p a t e s n o t r o u b l e In m a k i n g s a t i s f a c t o r y a r r a n g e m e n t s w i t h t h e
h o ld e r s o f a 5 1 ,5 0 0 ,0 0 0 n o t e w h ic h w o u l d a l s o b e o u t s t a n d i n g a g a i n s t t h e
D e v e lo p m e n t C o m p a n y , w e ll s e c u r e d a n d h e ld b y U s f r i e n d s .
. T h e r e h a s b e e n b e t w e e n $ 8 ,0 0 0 ,0 0 0 a n d $ 9 , 0 0 0 ,0 0 0 c a s h I n v e s t e d In
a c q u ir in g t i t l e , d e v e lo p m e n t a n d e q u ip m e n t o f t h e I m p e r ia l a n d T o m b
s to n e p r o p e r t ie s , th e p o t e n t ia l v a lu e o f w h ic h , h o w e v e r , r e p r e s e n ts m a n y
tim e s t h a t a m o u n t.
T h e F o r t L o b o s R R . , o n w h ic h t h e D e v e lo p m e n t C o . h a s a lr e a d y e x
p e n d e d a b o u t $ 7 5 ,0 0 0 , w i l l, If b u i l t t o a c o n n e c t io n w it h t h e r a i lr o a d o w n e d
b y t h e I m p e r i a l C o p p e r C o . , p l a c e t h e I m p e r i a l C o p p e r C o . In a d e c i d e d l y
f a v o r a b le p o s itio n , r e d u c in g t h e c o s t o f p r o d u c in g c o p p e r to t h e m in im u m ,
a n d p l a c i n g It In a f a v o r a b l e p o s i t i o n t o t r e a t a t I t s S a s c o s m e l t e r a v e r y
la r g e a m o u n t o f c u s to m o r e fro m t h e W e p t c o a s t o f M e x ic o a n d S o u th A m e r
ic a n o w b e in g s h ip p e d to V a n c o u v e r . B . C ., f o r t r e a t m e n t .
J u s t a s m a t t e r s s t a n d , y o u r p r o p e r tie s a r e u n p r o d u c t iv e .
T h e c o m p a n y ’s
o b lig a t io n s o u t s t a n d in g a s o f A u g . 3 1 1 9 1 0 , I n c lu d in g I n te r e s t o n b o n d s d u e
J u l y 1 , a m o u n t e d t o S 2 .3 1 7 ,8 1 8 , w h ic h I n c lu d e s lln a l p a y m e n t o n S a d d le
M tn . a n d c o m p le t io n o f a g r e e m e n t w it h L o n d o n - A r iz o n a C o p p e r C o .
[ T h e c o m p a n y ’ s c a p i t a l s t o c k Is $ 7 , 0 0 0 , 0 0 0 a u t h . , $ 4 , 4 0 4 , 5 0 0 o u t s t a n d
in g ; p a r $ 10 0 .
I ts b o n d e d d e b t c o n s is t s o f $ 3 ,7 1 8 ,2 0 0 c o lla t e r a l t r u s t 6 %
g o ld b o n d s d a t e d 19 0 3 a n d d u e J a n . 1 1 9 1 8 ( In t. J . & J .; T r u s t C o . o f A m . ,
t r u s t e e ) , s e c u r e d b y p l e d g e o f a l l t h e $ 5 ,0 0 0 ,0 0 0 s t o c k o f C o n g r e s s C o n s o l i
d a t e d M in e s C o ., $ 1 ,3 5 0 ,0 0 0 o f t h e s t o c k o f t h e P o la n d M in in g C o ., $ 2 ,5 0 0 ,
0 0 0 s t o c k o f I m p e r i a l C o p p e r C o . a n d $ 4 ,0 0 0 ,0 0 0 s t o c k o f t h e T o m b s t o n e
C o n s o l. M in e s .— E d .)
N . Y . o ffic e , 5 N a s s a u S t .
Name of Company—
(1)
(2 )
(3 )
(4 )
(5 )
(6 )
(7)
Total Slock -Pledged for Dev. Co.Outsland. Coll.Bds. . Neic Notes.
Bonds Pledgcd/or
Issued. New Votes.
P o l a n d M in in g C o .................5 2 ,5 0 0 .0 0 0 $ 1 ,3 5 0 ,0 0 0
$ 1 0 6 ,3 8 0 $ 1 ,0 0 0 ,0 0 0 * $ 5 6 ,7 7 5
T o m b s t o n e C o n s o l ______ 1 5 ,0 0 0 ,0 0 0
4 ,0 0 0 ,0 0 0 3 ,0 0 5 ,5 1 5
3 ,0 0 0 ,0 0 0 x 1 0 8 ,0 2 0
I m p e r i a l C o p p e r C o ____ 5 ,0 0 0 ,0 0 0
2 ,5 0 0 ,0 0 0
6 ,6 4 0
2 ,0 0 0 ,0 0 0
..............
L o n d o n - A r i z o n a ................... 5 ,7 4 8 ,2 0 0
2 ,3 2 0 ,3 1 0
1 5 2 ,0 0 0 ________
C o n g r e s s C o n s o l .............. 5 ,0 0 0 ,0 0 0
5 ,0 0 0 ,0 0 0
....................
N one
______
S a d d l e M t n . M i n i n g ____ 1 ,3 6 0 ,0 0 0
3 ,0 0 0
8 1 0 ,0 0 0
...............
L o o k o u t C o p p e r ______
4 5 9 ,8 4 0
....................
4 5 9 ,7 9 0
________
______
• F o r t h e n e w n o t e s a r e a l s o p l e d g e d $ 1 ,2 1 0 ,9 0 1 c e r t f s . o f I n d e b t , o f P o l a n d C o .
a n d $ 4 6 1 ,8 5 2 n o t e s o f T o m b s t o n e . — V . 8 2 , p . 2 2 1 .
Diamond Match Co.— Bond Issue.— President E . It. Stettinius says:
T h e r e p o r t t h a t d ir e c to r s h a v e r e s o lv e d to r e c o m m e n d to s h a r e h o ld e r s
t h e I s s u i n g o f b o n d s o n D i a m o n d M a t c h C o . ' s p r o p e r t y Is t o s a y t h e l e a s t
p re m a tu re .
T o m e e t t h e c o m p a n y ’s c o u p o n n o t e s a s t h e y m a t u r e , a n d d i s c h a r g e
o b lig a t io n s o n a c c o u n t o f Its I n d e b te d n e s s t o B r y a n t & M a y , L t d . , c a ils
f o r e x p e n d i t u r e o f $ 6 5 0 ,0 0 0 p e r a n n u m .
S o m e la r g e s to c k h o ld e r s h a v e
u r g e d t h a t a fin a n c ia l p la n b e a d o p t e d t h a t w ill p e r m it o f t h e c o m p a n y ’s
l i q u i d a t i n g it s I n d e b t e d n e s s a t l o w e r r a t e p e r a n n u m , s a y $ 1 5 0 ,0 0 0 t o
$ 2 0 0 ,0 0 0 , In o r d e r n o t o n l y t o I n s u r e m a i n t e n a n c e b e y o n d q u e s t i o n o f p r e s e n t
6 % d iv id e n d r a t e , w h ile m a k in g a d e q u a t e p r o v is io n o u t o f e a r n in g s f o r
a d d itio n s a n d I m p r o v e m e n ts a n d in c r e a s e d w o r k in g c a p it a l, b u t t o r e n d e r
p o s s ib le t h e p a y m e n t f r o m t im e t o t im e o f e x t r a d i v i d e n d a s e a r n in g s
w a rra n t.
T h e m a t t e r , h o w e v e r , h a s o n ly b e e n v e r y I n fo r m a lly d is c u s s e d
a s y e t , a n d If a n y a c t i o n b e t a k e n a l o n g t h e s e lin e s l t w i l l p r o b a b l y n o t b e
f o r s o m e t im e .
E a r n in g s fr o m a ll s o u r c e s “ I n c lu d in g C a lifo r n ia lu m b e r o p e r a t i o n ,” w e r e
$ 1 ,0 1 1 ,9 0 6 f o r 8 m o s . e n d e d A u g . 3 1 1 9 1 0 , a s c o m p a r e d w i t h $ 1 ,0 0 8 ,7 2 8
f o r s a m e p e r io d o f 1 9 0 9 .— V . 9 1 . p . 2 8 7 .
General Motors Co.— Sale of Notes.— The company has
sold to J. & W . Seiigman & Co., New York, and Lee, Higginson & Co., Boston, N . Y . and Chicago, $15,000,000 “ first
THE CHRONICLE
948
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:
A u t h o r i z e d i s s u e , $ 2 0 ,0 0 0 ,0 0 0 , w h e r e o f t o b e i s s u e d n o w $ 1 5 , 0 0 0 , 0 0 0 :
i s s u a b l e o n l y w i t h a p p r o v a l o f t h e c o m p a n y ' s f i n a n c e c o m m i t t e e , w h i c h is
t o b e n o m i n a t e d b y t h e b a n k e r s , $ 5 ,0 0 0 ,0 0 0 .
A p p lic a t io n w ill b e m a d e
to lis t th e se n o te s o n th e N . Y . S to c k E x c h a n g e .
T h e m o r tg a g e p r o v id e s
t h a t n e t q u i c k a s s e t s a lo n e m u s t n e v e r b e le s s t h a n 1 3 3 1 - 3 % o f n o t e s o u t
s t a n d in g .
S i n k i n g f u n d $ 1 , 5 0 0 , 0 0 0 i n 1 9 1 1 , $ 1 , 5 0 0 , 0 0 0 i n 1 9 1 2 , $ 2 ,0 0 0 ,0 0 0
i n 1 9 1 3 , $ 2 ,0 0 0 ,0 0 0 i n 1 9 1 4 ,
M a jo r it y o f o u t s t a n d in g s t o c k d e p o s ite d u n d e r v o t in g t r u s t a g r e e m e n t,
th e t r u s te e s d e s ig n a te d b y th e b a n k e r s , w h o w ill n o m in a te im m e d ia te ly
m a j o r it y d ir e c t o r s G e n e r a l M o to r s C o . a n d s u b s id ia r y c o m p a n ie s ; s ix o u t
o f t h e s e v e n m e m b e r s o f t h e fin a n c e c o m m it t e e a n d a c o m p t r o lle r f o r e a c h
com pany.
T h e s e c o m p a n ie s m a n u f a c t u r e 12 m a k e s o f m o to r c a r s .
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.
I n t e r e s t in g r o s s a s s e t s [ b a s e d u p o n i t s s t o c k h o l d i n g s .lu n e 3 0
1 9 1 0 ] , in c lu d i n g (a ) r e a l e s t a t e a n d p la n t s , $ 1 2 ,1 2 7 ,0 0 0 ;
( b)
m a t e r ia ls , s u p p lie s , b ills a n d a c c o u n ts r e c e iv a b le a n d c a s h ,
$ 2 4 , 5 4 1 , 0 0 0 ; a n d (c) m i s c e l l a n e o u s i n v e s t m e n t s o f $ 2 5 2 ,0 0 0 . $ 3 6 , 9 2 0 ,0 0 0
D e d u c t o n a c c o u n t o f t h e $ 1 4 , 6 1 2 ,0 0 0 l i a b i l i t i e s o f t h e G e n e r a l
M o to r s C o . a n d o f its s u b s id ia r ie s J u n e 30 1 9 1 0 , b e in g th e
a m o u n t t h e G e n e r a l M o to r s C o . w a s lia b le f o r d i r e c t ly o r th r o u g h
i t s s u b - c o m p a n i c s , n a m e l y ( i n c l u d i n g $ 1 6 3 ,0 0 0 m t g e . d e b t )
1 4 ,3 1 2 ,0 0 0
E q u i t y o f G e n . M o t o r s C o m p a n y I n t h e n e t a s s e t s .T u n e 3 0 T 0 _ . $ 2 2 , 6 0 8 , 0 0 0
T h e lia b ilitie s h a v e s in c e b e e n m a t e r ia lly r e d u c e d .
T h e r e Is a l s o a c o n t i n g e n t l i a b i l i t y o f n o t o v e r $ 6 0 0 ,0 0 0 a r i s i n g f r o m t h e
p u r c h a s e o f o n e o f t h e s u b s id ia r ie s .
General Motors Co.'s Proportion of the Profits of the Subsidiary Companies,
Rased on Stockholdings.
F o r t h e y e a r 1 9 0 8 - 0 9 , a p p r o x i m a t e l y -------------- ----------------------------- $ 8 , 8 4 4 , 6 0 0
C o n s e r v a t i v e l y e s t i m a t e d f o r t h e y e a r 1 9 0 9 - 1 0 . - . _ - ________$ 1 0 , 4 8 5 , 0 0 0
I n t h e a b o v e v a l u a t i o n o f a s s e t s n o t h i n g l i a s b e e n I n c l u d e d In r e s p e c t o f
th e g o o d - w ill, a g r e e m e n ts , & c ., o f th e v a r io u s c o m p a n ie s , n o r u p o n s u n d r y
o th e r b o o k a s s e t s w h ic h th e o ff ic e r s d e e m o f c o n s id e r a b le v a lu e .
T he net
p r o fits h e re r e p r e s e n t p r o fits w h ic h w o u ld n o r m a lly b e a v a i la b le f o r p a y
m e n t o f d iv id e n d s .
B o t h in o u r v a l u a t i o n o f a s s e t s a n d In c o m p u t i n g t h e
p r o f it s e a r n e d , d u e p r o v is io n h a s b e e n m a d e f o r d e p r e c i a t i o n , $ 1 ,0 8 1 ,0 0 0
h a v i n g b e e n s e t a s id e t h e r e f o r in t h e t w o y e a r s n o w r e p o r t e d u p o n .
Stock Held in Constituent Companies Directly and Through Subsidiaries.
( T o t a l s t o c k s o u t s t a n d i n g $ 1 5 , 4 4 0 , 7 1 0 , o f w h i c h s o h e l d $ 1 3 , 8 41. 5r , 3 8 3 . )
Slock of—
Outstanding. Amt. IIeld. \ Stock of—
Outstanding. Amt. Held.
B u i c k M o t o r C o . . * * 2 ,5 0 0 ,0 0 0 * 3 2 ,4 9 8 ,5 0 0 'R a n d o l p h M . C a r C o * 3 9 9 ,4 0 0
1 ,5 0 0 ,0 0 0 :W e l c h M o t o r C a r
C a d i l l a c M o t .C a r C o 1 ,5 0 0 ,0 0 0
3 ,1 3 2 ,3 9 0
C o . , P o n t i a c ___
2 2 1 ,0 0 0
O l d s M o t o r W o r k s . 3 ,1 3 2 ,3 9 0
7 9 3 .0 0 0 J a c k s o n - C h u r o h M a r q u e tt e M o t.C o .
7 9 3 ,0 0 1)
2 4 0 .0 0 0
a 5 5 2 ,7 2 0
W i l c o x C o ............
C a r t e r c a r C o ______ a 6 0 7 ,7 2 0
100.000
8 0 0 .0 0 0 M l c h .M o t .C a s . C o .
8 0 0 ,0 0 0
O a k la n d M . C a r C o
3 6 4 ,6 5 0 C h a m p i o n I g n i t . C o
100,000
R a p id M o t. V e il.C o
5 0 0 .0 0 0
M ic h . A u t o f ’ a r t s C o .
3 0 0 .0 0 0
N o r th w a y M o to r &
7 2 5 .0 0 0 M c L a u g h l i n M o to r
M f g . C o .................
7 2 5 .0 0 0
6 0 0 ,0 0 0 !
C a r C o . , L t d . . . 1 ,0 0 3 ,0 0 0
6 0 0 .0 0 0
E l m o r e M f g . C o __
4 7 4 ,2 2 3 G e n .M .C o . o f M ic h .
10,000
4 8 1 ,2 0 0
R e lia n c e l i . T r k . C o
2 7 5 ,0 0 0 ; 0 a k P a r k B o w . C o .
200.000
2 7 5 ,0 0 0
W e lc h C o . o f D e t .
7 4 7 .0 0 0 1
W c s t o n - M o t t C o . . 1 ,5 0 0 ,0 0 0
$ 2 9 9 ,4 0 0
2 2 4 ,0 0 0
2 4 0 .0 0 0
100.000
7 5 .0 0 0
3 0 0 .0 0 0
5 0 0 .0 0 0
10.000
1 3 3 .0 0 0
* B u i c k h a s $ 2 ,0 0 0 ,0 0 0 c o m m o n s t o c k a n d $ 5 0 0 ,0 0 0 p r e f . , a l l e x c e p t
$ 1 , 5 0 0 o f t h e p r e f . Is h e l d a s a b o v e ,
a C a r t c r c a r c o m m o n s t o c k is $ 5 5 7 , 7 2 0 ,
a m o u n t h e ld $ 5 5 2 ,7 2 0 ;
p r e f . $ 5 0 ,0 0 0 ; n o n e h e l d .
Statement of Vice-President VV. C. Durant, New York, Oct. 3 1910.
Status of the Company as It 14 ill Re upon the Issue of $ 1 5 , 0 0 0 , 0 0 0 of its
First Lien 6 % Five-Year Sinking Fund Gold Notes.
F i r s t l i e n 6 % 5 - y e a r s i n k i n g f u n d g o l d n o t e s . . . ------------------------ $ 1 5 , 0 0 0 , 0 0 0
7 % c u m . p r e f . s t o c k ( w h e r e o f n o t i e s s t h a n $ 2 ,8 0 0 ,0 0 0 w i l l l i e
h e ld in t h e t r e a s u r i e s o f t h e p a r e n t a n d s u b s i d i a r y c o m p a n ie s ) 1 7 ,8 3 5 ,4 0 0
C o m m o n s t o c k , w h e r e o f n o t l e s s t h a n $ 8 0 ,0 0 0 w i l l b e h e l d In
t r e a s u r y o f t h e G e n e r a l M o t o r s C o . . ............. ............................................. 2 0 , 3 7 4 , 0 3 0
T h e $ 1 5 ,0 0 0 ,0 0 0 f ir s t lie n 6 % n o t e s w iil b e s e c u r e d , t h r o u g h t h e d e p o s it
w it h t h e C e n tr a l T r u s t C o . o f m o r tg a g e n o te s a n d s h a r e s o f s t o c k o f s u b s id i
a r y c o m p a n ie s r e p r e s e n t in g t o t a l a s s e t s o f $ 3 7 ,3 8 3 ,0 0 0 , n a m e ly :
R e a l e s t a t e , p la n t s a n d e q u ip m e n t v a l u e , a t c o s t , le s s d e p r e c ia
t io n ( s u b j e c t t o r e a l e s t a t e o b l i g a t i o n s a g g r e g a t i n g $ 2 6 6 ,5 0 0 ) . $ 1 2 , 1 2 7 , 0 0 0
C u r r e n t a s s e t * v a l u e d ( a t c o s t ) a t _____________________________ - 2 5 , 2 5 6 , 0 0 0
T h e p r o c e e d s o f t h e s a le o f t h e s e n o t e s w ill e n a b le t h e G e n e r a l M o to r s
C o . to p r o v id e f o r it s o w n o u t s t a n d in g I n d e b te d n e s s a n d t t ia t o f Its c o n
tr o lle d m o t o r - m a n u fa c t u r in g c o m p a n ie s , le a v in g t h e c o m p a n ie s w it h a b o u t
$ 2 5 , 0 0 0 , 0 0 0 n e t c u r r e n t a s s e t s , I n c l u d i n g a t l e a s t $ 3 ,0 0 0 ,0 0 0 o f c a s h .
W it h t h e p r o c e e d s o f t h e s a le o f t h e s e n o te s th e c o m p a n y w ill h a v e a w o r k in g
c a p it a l s u ffic ie n t fo r a n o u t p u t e q u a l to t h a t o f la s t y e a r .
T h e g r o s s s a le s o f t h e s u b s id ia r y c o m p a n ie s o f t h e G e n e r a l M o to r s C o .
d u r i n g t h e y e a r e n d in g O c t . 1 1 9 0 9 w e r e $ 3 4 ,0 0 0 ,0 0 0 , a n d f o r t h e y e a r
e n d in g O c t . 1 1 9 1 0 h a v e b e e n a p p r o x i m a t e l y $ 5 8 ,5 0 0 ,0 0 0 .
T h e p resen t
r a t e o f s a le s a n d t h e o u t lo o k f o r t h e c o m i n g y e a r a r e f u l l y a s f a v o r a b le a s
fo r th e y e a r J u st e n d e d .
T h e c o m p a n ie s m a n u f a c t u r e 12 m a k e s o f p le a s u r e a n d c o m m e r c ia l m o to r
v e h ic le s , I n c lu d in g h ig h , m e d iu m a n d lo w - p r ic e d c a r s ; t h e s e a r e : C a d illa c ,
B u ic k , O ld s m o b lle , E lm o r e , O a k la n d , C a r t c r c a r , R a in ie r , W e lc h , W e lc h D e t r o lt , R a p id t r u c k . R e lia n c e t r u c k a n d R a n d o lp h t r u c k .— V . 9 1 , p .
874, 719 .
Granby Consolidated Mining, Smelting & Power Co.,
L td .— Report.— For the year ending June 30:
Fiscal
Year.
Gross
Sales.
1 9 0 9 - 1 0 ............ $ 4 , 0 9 9 , 9 2 5
1 9 0 8 - 0 9 _____ 3 , 9 8 3 , 5 3 7
Net
Profits.
$ 5 6 4 ,9 4 7
6 8 1 ,1 3 4
Interest DeprePaid.
elation.
Dividends.
Ralance,
(2 % ) .
Stir, of det.
$ 6 0 , 0 7 4 $ 2 6 6 , 1 5 5 $ 2 7 0 ,0 0 0 d e f . $ 3 1 . 8 8 2
8 2 ,7 8 7
1 0 ,0 0 0
2 7 0 ,0 0 0 s U r .3 1 8 ,3 4 7
T h e r e w a s s o ld d u r i n g t h e f is c a l y e a r 1 9 0 9 - 1 0 2 2 , 7 5 0 , 1 1 1 l b s . c o p p e r lin e
a t a n a v e r a g e o f $ 0 .1 2 9 1 2 ; 3 5 5 ,7 4 9 o z s . s i l v e r fin e a t a n a v e r a g e o f $ 0 .5 2 3 3 ;
4 8 ,8 0 4 o z s . g o l d f i n e a t a n a v e r a g e o f $ 2 0 .
T h e t o t a l s u r p lu s o n J u n e 30
1 9 1 0 , a f t e r d e d u c t i n g $ 2 0 2 ,4 3 5 f o r d i s c o u n t o n s t o c k s o l d , w a s $ 2 ,4 6 4 ,3 7 0
T h e r e p o r t m a d e l a s t s p r i n g b y D r . O t t o S u s s m a n , s h o w i n g a b o u t 6 ,0 0 0 ,
0 0 0 t o n s I n s i g h t , is g i v e n i n t h e a n n u a l s t a t e m e n t a n d , c o n c l u d e s a s f o l l o w s :
“ Y o u a r e , in m y o p in i o n , a t p r e s e n t c o n f r o n t e d w i t h a s i t u a t i o n w h e r e y o u
h a v e a n u p - t o - d a t e s m e l t e r , w i t h a c a p a c i t y o f 4 ,0 0 0 t o n s a d a y , a n d a m i n e
t h e l i f e o f w h i c h a p p e a r s t o l i e l i m i t e d t o a f e w [\M\ y e a r s .
Y o u r m in e
m a n a g e m e n t h a s la t e ly ta k e n a n o p tio n o n s o m e g r o u n d n o r th o f y o u r o w n
p r o p e r t i e s , a n d t h i s is n o w b e i n g e x p l o r e d w i t h d r i l l s .
E x p lo r a tio n w o rk
o f o u t s id e p r o p e r t ie s s h o u ld b e p u r s u e d v ig o r o u s ly , a n d a t t h e s a m e t im e
p a r t o f t h e s m e lt in g c a p a c it y s h o u ld b e u s e d f o r c u s t o m s o r e s .”
The
d r illin g , it w a s s t a t e d a t th e a n n u a l m e e t in g , h a d s h o w n s a t is f a c t o r y r e s u lts .
Officers.— Vice-Pres. George M. Luther has been elected
President, succeeding Jacob Langeloth, who resigned.
E d w in T h o r n e a n d W . H . R o b in s o n h a v e b e e n e le c te d V ic e -P r e s id e n ts
to s u c c e e d M r. L u th e r a n d G e o rg e C . C la r k J r .
N ew
D ir e c to r s :
J.
B . F . H e r r e s h o iT , G e o r g e W . W o o s te r , W illia m
H a m l i n , E . i t . N l c h o l s a n d N o r t h r u p F o w l e r w e r e e l e c t e d d i r e c t o r s in p l a c e
o f G e o r g e C r a w fo r d C la r k J r ., G e o r g e C r a w f o r d C la r k , H . I ,. H ig g in s o n ,
J . L a n g lo t h a n d H . P a y n e W h it n e y .— V . 9 0 , p . 8 5 2 .
Hall Signal Co. — New Officer— J. J. Kennedy has been
elected Vice-President and General Manager to succeed C. S.
Sedgewick.— V . 80, p. 111.
Huntington Land & Improvement Co., Los Angeles.—
Guaranteed Collateral Trust Gold Debenture Notes All Sold bp
James / / . Adams A Co.— The entire issue of §1,000,000 col
[VOL. L X X X X I
lateral trust 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.
Independent Telephone Co. of Seattle.— Sale of Control.—
The 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 ,0 0 0 ,0 0 0 ,” but
whether to the Bell interests does not appear.— V . 84, p. 162.
Intercontinental Rubber Co., New Y o rk .— 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
number from nine to eleven.
Report.— For the year ended July 31 1910:
$ 9 1 2 ,4 4 1
G r o s s p r o f i t s _________ _____$ 2 , 3 6 9 , 7 9 5 1 D i v i d e n d s _______________
N e t p r o f i t s ________ ____. $ 2 , 2 6 8 , 1 8 4 1 l l a i a n e e , s u r p l u s -----------------$ 1 , 3 5 5 , 7 4 3
A d d i n g t h e p r e v io u s s u r p lu s ( $ 2 4 8 ,9 4 4 ) , t h e t o t a l s u r p lu s w a s $ 1 ,6 0 4 ,6 8 7 .
D e d u c t a m o u n t e q u a l t o p r e f . s t o c k r e t ir e d d u r in g y e a r , $ 1 ,0 5 0 ,0 0 0 , a n d
p r e l i m i n a r y e x p e n s e s c h a r g e d o ir , $ 2 4 ,3 2 0 , l e a v e s t h e p r o f it a n d lo s s s u r
p lu s a s o f J u l y 3 1 1 9 1 0 $ 5 3 0 ,3 6 6 .
C a s h in b a n k J u l y 3 1 1 9 1 0 , $ 1 , 1 3 1 , 5 1 8 . — V . 9 1 , p . 8 7 4 , 6 5 7 .
Island Creek Coal Co., Boston.— Circular to Stockholders
and Bondholders of United States Coal A Oil Co.— F. W .
Batchelder, 55 Congress St-., Boston, the Secretary of the
new company, has under date of Oct. 1 sent a circular to the
shareholders and bondholders of the U. S. Coal & Oil Co., of
which lie is also Sec.-Treas. (see “ Annual Reports on a pre
ceding page), saying in substance:
T h e I s la n d C r e e k C o a l C o . h a s b e e n o r g a n iz e d u n d e r t h e la w s o f M a in e
w i t h a n a u t h o r i z e d c a p i t a l o f 1 0 0 ,0 0 0 p r e f . s h a r e s a n d 1 5 0 , 0 0 0 c o m . s h a r e s .
T h e p r e f. s h a r e s a r c e n t it le d to a c u m u la tiv e q u a r t e r ly d iv id e n d a t n o t e x
c e e d i n g $ 6 p e r s h a r e p e r a n r > ., b e f o r e a n y d i v i d e n d c a n b e p a i d o n t h e c o m
m on sto ck .
In c a s e o f liq u id a tio n o r d is s o lu tio n , th e n r e f. s t o c k w ill a ls o
h a v e p r e f e r e n c e in t h e d i s t r i b u t io n o f a s s e t s t o t h e e x t e n t o f $ 1 2 0 p e r s h a r e
a n d a c c r u e d d iv id e n d s .
T h e sh a re s o f p re f. a n d co m m o n sto c k h a v e e q u a l
v o tin g p o w e rs , e x c e p t th a t co m m o n s to c k a lo n e c a n v o te o n th e In cre a se
o f t h e a m o u n t o f a u t h o r iz e d c o m m o n s t o c k o r o n t h e s a le o f c o m m o n s t o c k
a t le s s t h a n $ 50 p e r s h a r e .
5 0 ,0 0 0 o f t h e p r e f . s h a r e s a n d 1 0 0 ,0 0 0 o f t h e c o m m o n s h a r e s h a v e b e e n
s e t a s i d e t o e x c h a n g e f o r t h e 1 2 0 ,2 0 0 s h a r e s a n d $ 1 ,4 9 5 ,0 0 0 b o n d s o f t h e
U . S . C o a l & O il C o .
T h e r e m a i n i n g 5 0 ,0 0 0 o f t t i e p r e f . s h a r e s a n d 5 0 ,0 0 0
o f t h e c o m m o n s h a r e s a r c t o r e m a i n In t h e t r e a s u r y , t o b e h e r e a f t e r i s s u e d
f r o m t im e t o t im e b y t h e d i r e c t o r s o f th e n e w c o m p a n y a t n o t le s s t h a n $ 10 0
p e r s h a r e f o r t h e p r e f . s h a r e s a n d n o t le s s t h a n $ 50 p e r s h a r e f o r t h e c o m m o n
s h a r e s ; b u t p r e f . s h a r e s m a y b e is s u e d h e r e a f t e r a t le s s t h a n $ 10 0 p e r s h a r e
b y v o t e o f a m a jo r ity o f t h e h o ld e r s o f th e o u t s t a n d in g c a p ita l s t o c k , a n d
c o m m o n s h a r e s m a y b e Is s u e d h e r e a f t e r a t le s s t h a n $ 5 0 p e r s h a r e b y v o t e
o f a m a jo r ity o f th e o u ts ta n d in g co m m o n sh a re s .
T h e p a r v a lu e o f th e sh a re s o f th e n e w c o m p a n y , b o th p r e f. a n d c o m m o n ,
h a s b e e n p la c e d a t $ 1 , a n o m in a l s u m , a n d h a v i n g n o r e la t io n to t h e a c t u a l
v a lu e o f th e sh a re s.
T h is h a s b e e n d o n e fo r th e p u r p o s e o f a llo w in g s to c k
h e r e a f t e r t o b e I s s u e d f r o m t i m e t o t i m e , If r e q u i r e d f o r t h e n e e d s o f t h e
c o m p a n y , a t s u c h p r ic e s — n o t le s s t h a n $ 10 0 a n d $ 50 r e s p e c t i v e l y — a s t h e
d i r e c t o r s m a y d e t e r m i n e , o r a t e v e n l e s s p r i c e s If t h e s t o c k h o l d e r s t h e m
s e lv e s so v o t e .
B y th is p la n o f c a p it a liz a t io n th e n e c e s s a r y , e la s t ic it y r e
q u ir e d fo r fu t u r e fin a n c in g h a s b e e n o b ta in e d a n d s t o c k h o ld e r s a r c p r o
t e c t e d a g a in s t t h e I s s u a n c e o f t r e a s u r y s t o c k b y t h e d ir e c t o r s a t le s s t h a n
a fix e d s u m .
Directors of New Company .— T e r m e x p i r i n g A p r i l 1 9 1 2 : F . W . B a t c h e l d e r ,
W . I I . C o o lid g e , A . F . H o ld e n , B . D . H y d e ( to b e f ille d ) .
T e r m e x p ir in g
A p r il 1 9 1 3 : E . R . A n d r e w s , T . B . D a v is J r ., C . A . f l i g h t , G . L . S t o n e (to
b e fille d ) .
T e r m e x p ir in g A p r il 1 9 1 4 : H . A . B e lc h e r , E . A . C la r k , O . G .
R ic e , G . I I . W h it c o m b , S . W . W in s lo w .
Offer of Exchange Made to A ll Security-holders of V . S . Coal A Oil Co.
For
— Will be Given in Exch .— •
To Holders of
Each
New Common.
N etc Pref.
10 s h a r e s
5 sh ares
C a p i t a l s t o c k _________________ 1 8 s h a r e s
B o n d s __________ _______________$ 4 5 0 o f p r i n c i p a l
10 s h a r e s
5 sh ares
P r e fe r r e d d iv id e n d s a r c p a y a b le q u a r t e r ly b e g in n in g J a n . 1 * 1 9 1 1 .
A n y s t o c k h o l d e r o f t h e IT. S . C o a l & O i l C o . a c c e p t i n g t h i s o f i e r m u s t
d e p o s it h is c e r t ific a t e s o f s t o c k ( p r o p e r ly e n d o r s e d ) w it h F . W . B a t c h e ld e r ,
55 C o n g re s s S t ., B o s to n , o n o r b e fo re N o v . 15 19 10 .
B o n d h o ld e r s s h o u ld
d e p o s it t h e ir b o n d s w ith M r. B a tc h e ld e r o n o r b e fo r e M a y 15 1 9 1 1 , su c h
d e p o s it b e in g m a d e f o r t h e p u r p o s e o f e x c h a n g e o n th e a b o v e .s t a t e d b a s is .
Lackawanna Steel Co.— Results.— The combined earnings
of the company and subsidiaries for the 3 and 9 months
ending Sept. 30 1910 were:
Three
Months.
19 10
19 0 9
_____
.
.
Total
Income.
..
$ 1 ,4 4 0 ,1 5 0
- 1 .4 4 1 .1 5 2
Int. onRds. S .F . and
and Notes. Exhaustion.
$ 4 3 7 ,5 0 0
4 0 6 ,8 7 5
$ 1 0 1 ,6 5 6
9 9 ,0 9 4
Depreciation, Ac.
$ 3 0 8 ,6 3 8
3 4 8 ,5 8 4
Ralance,
Surplus.
$ 5 9 2 ,3 5 6
5 8 6 ,5 9 9
Nine Months.
$ 2 ,2 8 6 ,3 3 5
$ 2 9 3 ,2 7 0
$ 1 ,0 1 6 ,8 0 4
1 9 1 0 _____ ___$ 4 , 8 8 8 , 4 9 3
$ 1 ,2 9 2 ,0 8 3
9 5 ,9 7 0
2 4 0 ,3 1 6
8 3 1 ,9 4 4
1 9 0 9 _____
1 ,1 9 9 ,3 7 5
2 ,3 6 7 .6 0 6
T h e u n fille d o r d e r s o n S e p t . 30 1 9 1 0 w e r e 2 6 1 ,9 3 1 g r o s s t o n s , a g a in s t
4 0 6 ,8 6 2 in 1 9 0 9 .— V . 9 1 . P . 9 7 .
New Castle (Ind.) Light, Heat & Power Co.— Dividend.—
The company paid on Oct. 1 a first quarterly dividend of
2 % on the $100,000 stock of record on that date.
Director$ ( a n d o f f i c e r s ) .
P r e s . , C h a r l e s ,S. I l i n c h m a r ; V i c e - P r e s . , J . T .
B a c o n , a n d T r c a s . . W i l l i a m C . A r r l s o n , o f P h i l a d e l p h i a ; . S e c . , H o w a r d 1 ,.
O ld s , o f I n d ia n a p o lis , a n d E . M . C a r r , N e w C a 3 tle . C o m p a r e V . 8 8 , p . 1 4 4 1 .
Pennsylvania W ater & Power Co.-— See Consolidated Gas,
FJectrie Light & Power Co., Baltimore, above.— Y .9 1 ,p .4 6 7 ,
Penn Yan (N. Y .) Gas Light C o .—
C a p i t a l s t o c k Is $ 2 4 , 7 5 0 .
R e f u n d i n g 5 % m t g e . , a u t h . I s s u e , $ 1 0 0 ,0 0 0 ;
d a t e d J u l y 1 1 9 0 9 a n d d u e J u l y 1 1 9 4 9 ( t u t . J . & J . ) ; o u t s t a n d i n g , $ 5 5 ,0 0 0 ,
M i l e s o f m a i n s , 5 y2. A n n u a l o u t p u t , a b o u t 8 , 5 0 0 , 0 0 0 c u . f t .
G ro ss e a rn
i n g s In 1 9 0 9 , $ 1 6 , 0 3 4 ; n e t . $ 4 , 3 7 9 ; t a x e s , $ 5 7 8 ; b o n d l n t . , $ 2 , 8 7 5 ; o t h e r
in t., $ 12 2 .
P r e s ., W m . T . M o r r is .
Power, Transit & Light Co., Bakersfield, Cal.— Ntw
Plant.— The company lias awarded to J. G. White & Co.,
New York, a contract for the construction at Bakersfield of a
steam and electric power 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.
A n i n j u n c t i o n Is g r a n t e d r e s t r a i n i n g t h e d e f e n d a n t f r o m m a k i n g o r s e l l i n g
t h e in fr in g in g d e v ic e .
U . S . C o m m i s s i o n e r .S h i e l d s Is a p p o i n t e d s p e c i a l
m a s te r to a sse ss th e d a m a g e s .
A n a p p e a l w ill b e t a k e n .— V . 0 0 , p . 4 9 9 .
For other Investment News see pages 960 and 9G6,
OCT. 8 1910.!
THE CHRONICLE
T H E A T C H IS O N T O P E K A & S A N T A FE R A IL W A Y C O M P A N Y .
F IF T E E N T H A N N U A L R E P O R T — F O R T H E FISCAL Y E A R E N D IN G JU N E 30 1910.
Office of The Atchison Topeka cfr Santa Fc Railway System,
No. 5 Nassau Street, New York City.
September 13 1910.
To the Stockholders:
The following changes in the Funded Debt
occurred during the year:
Obligations Issued:
Convertible 4% Bonds— Issue of 1900..
Convertible 4% Bonds— Issue of 1909..
Convertible 4% Bonds— Issue of 1910._
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:
Ml
Rio Grande & El Paso Railroad.
Pecos River Railroad.
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 “
227.29 “
. 225.29 "
151.82 “
.
54.26 “
54.27 “
. 257.40 “
257.40 “
. 124.02 “
125.07 “
“
.
90.14 “
9,961.25
“
9,792.50
Deduction In Profit and Loss Account___ _
$10,888,180 74
22,223 23-
Surplus to credit of Profit and Loss June 30 1910...
$20,231,803 07
T o ta l...............
$8,797,403 40
Deduction—
56,500 50
Texas & Gulf R y .....................................................................
g B 8 f c ? ^ s s a 's a <a i s 5 a i " " “ .......... - ................ -
$20,425,78420
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
accounts.
During the fiscal year 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
come Account.
E X P E N D IT U R E S
AND
R E D U C T IO N
OF
BOOK VALU ES.
D u rin g th e fisca l y e a r c h a r g e s t o C a p ita l A c c o u n t fo r th e
c o n s t r u c t io n a n d a c q u is it io n o f a d d itio n a l r a ilw a y s , e q u ip
m e n t an d o t h e r p r o p e r tie s , a n d fo r a d d it io n s a n d b e t te r m e n t s
a m o u n te d in th e a g g r e g a te t o $ 3 3 ,6 1 6 ,1 8 4 6 0 , as fo llo w s :
Construction and acquisition of new mileage, including the acquisition of
bonds and stocks of other railway companies:
Atchison Topeka & Santa Fe R y ___
«i «17
Arizona & California R y _______________ . I " I
1 245721 43
*
’ 645’ 090 18
Concho San Saba & Llano Valley R R . . . .
Eastern Ry. of New Mexico____________________
"
4 788 081 43
Fullerton & Richfield R y___________ ____
_
_
106*228 92
Grand Canyon R y __________________________________ .1
34*,535 75
540 88
Gulf Beaumont & Kansas City R y .____ _______________
Gulf Colorado & Santa Fe R y___________________________
253,244 34
Gulf & Inter-State Ry. of Texas____________________ .
1,609,091 31
Kings River R y ------------------------------------------------------------47,406 13
Sunset Western R y _____________________________________
5,239 05
Right of Way. Station Grounds and Real Estate .
$8’I 0 9 *94! 88
Widening Cuts and I- ills. Including Protection of B a n k s 424,*102 77
11,984,151 30
19,865,957 51
$9 213 867 29
C A P IT A L
$32,409,035 62
-------------
37,’382,000 00
6,577,000 00
706,500 00
In te r e s t c h a r g e s fo r th e y e a r e n d in g J u n e 3 0 1911 (in
c lu d in g in te r e s t o n 8 3 1 ,9 9 7 ,0 0 0 o f th is C o m p a n y ’ s C o n v e r tib le
4 % B o n d s o f 1909 a n d 19 10 issu ed a fte r J u n e 3 0 19 1 0 ) w ill
b e a p p r o x im a t e ly 8 1 2 ,7 3 9 ,3 3 5 , o r a n a v e r a g e m o n t h ly c h a r g e
o f a b o u t $ 1 ,0 6 1 ,6 1 1 .
J
&
Income from all sources------------------------- $95,424,091 89 $107,543,250 10
Expenses, Including taxes, rentals and
61,458,019 13
75,133,31454
other charges----------------------------
g1
Convertible 4% Bonds---------1111111111
Convertible oV,, Bonds-------------------------Miscellaneous Divisional Bonds________
Total System Funded Debt outstanding June 30 1910___ $302,004,952 71
“
From the net Income for the year the following sums
have been deducted:
Dividends on Preferred Stock—
No. 23 (2<A%) paid Feb. 1
1910--------------------------- $2,854,345 00
No. 24 (2 H% ) paid Aug. 1
1910 --------------------------- 2,854,345 00
$5,708,090 00
Dividends on Common Stock—
No. 18 (3%) paid Dec. 1
1909 -----------------------------$4,714,005 00
No. 19 (1 Vi%) paid Mar. 1
1010__________________ 2,451,202 50
No. 20 (1 'A%) paid June 1
1910
__________
2,482,13250
9,648,030 00
Appropriation for Fuel Reserve Fund__
703,218 10
Appropriated for Additions and Better
ments ---------- -------- -------------------------4,000,000 00 - 20,059,938 10
K
t
_______
Surplus carried to Profit and Loss.... ............. ...... ........
$305,840 16
Surplus to credit of Profit and Loss June 30
1909 _________________________ ____ -..$18,821,250 74
Premium on Convertible Bonds sold . . . . . .
1,066,930 Of)
$1,000 00
2,393,000 00
2,419,000 00
50,901,500 00
1900.
1910.
Total operating* r e v e n u e s...____ _________$94,205,716 87 $104,993,194 07
Income from other sources----------------------1,158,375 02
2,550,05549
B alance------------------------------------------------$20,417,990 83
$41,087,632 71
Obligations Purchased or Retired:
Serial Debenture 4% Bonds—
g -----------------------------------------Series II-----------------------------------------“
*------------------------------------------
Decrease of Funded Debt____________________
increase during the year 108.75 miles.
# The average 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].
£g|
INCOM E ST A T E M E N T .
The following is a summary of the transactions of the
System for the years ending June 30 1909 and 1910:
$33,900,072 70
Fixed charges, Including accrued Interest
on Adjustment B o n d s ...----- ---------------- 13,548,081 93
$19,000 00
27,290 250 00
14,378)382 71
nn rS & d w
e
®
f t
t
"
' ' "
p u t t iW U M „ t r « k
m
Track Fastenings and Appurtenances_______ .
•'
Additional Main Tracks_____________
" ------Sidings and Spur Tracks_________________i : : : : ; ; : : ;
T e rm in al Y a r d s _______________________________________
T ra ck E le v a tio n , E lim in a tion o f G rade C rossings, im p ro v e d
ments of Over and Under Grade Crossings___________
855*809
2 709*547
490*484
629*115
95
nn
06
90
’
257,178 06
219,65522
Buildings and Shops----------------------------------------------------------- 1,889,25193
Shop Machinery and Tools________________________________
110,32298
E quipm ent-------------------------8,104,059 58
Betterments to Equipment____________________________
278,181 10
Other Additions and Betterments____ .
_ _
504 087 42
Fuel Lands.
----------------------------------------------------------923*,500 00
M iscellaneous I t e m s . . _________
451,792 42
I n te rlo ck in g , B lo ck a n d O th er Signal A p p a r a tu s ____________
$29,585,13351
A ( la .
A d d itio n s an d B etterm en ts w ritten off d u rin g
year ending June 30 1908, reinstated______$280,920 75
Transferred from account Equipment De
preciation Reserve---------------------------------- 3.990,130 34— 4,271,051 09
Deductions—
Santa Fe Pacific Lands sold.
$33,850,184 60
-
240,000 00
Net Increase In Capital Account during the year (See Ex
hibits B and C )--------------------------------------------------------- $33,616,184 60
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
h ^ I C,,„a^ stlH ln ®ci2 lce- shall rest In capital account, and that the
♦wi .
the account Equipment Depreciation Reserve shall represent
the total depredation accrued since that date on equipment In service.
M A IN T E N A N C E OF E Q U IP M E N T .
The following statement shows the sums charged to
Operating Expenses for Maintenance of Equipment during
each year since July 1 1896:
Average Operated
Total
Expenditure
Year ending June 30— Af ileage.
Expenditure
Per Mile.
1807-------------------------------- 6,443.81
$3,443,88482
$534 45
1898------------------------------- 6,936.02
4,059,27799
671 75
1809--------------------------------7,032.62
4,810,79564
684 07
C A P IT A L STOCK AND F U N D E D D E B T .
1900----------------------.7,341.34
5,267,83240
717 50
The outstanding Capital Stock (deducting stock in treas 1001-------------------------------- 7,807.31
6,257,45657
801 49
1902
------------------7,855.38
7,864,95125
1,001 22
ury) on June 30 1909 consisted of:
1903
---------------------7,965.13
8,510.543
09
1,008 48
Common----------.$121,559,500 00
1904
----------------------8,179.59
10,006,13541
1,223 31
Preferred-----------------114,173,730 00
1905
______________ 8,305.40
10,914,86447
1,314 19
1900-----------------------8,433.99
10,720,040
43
Issued during the year:
$235,733,23000
1,271 05
1907
---------------------- 9,273.15
11,779,84664
1,270 34
Common Stock issued In exchange for Convertible Bonds
1908
_______________9,415.01
14,240,62144
1,513 18
retired------- -------------43.950.000 00 1909
______________ 9,794.80
13,903,89737
1,419 51
1910
............
9,916.33
15,560,04744
1.569 13
Capltal'Stock outstanding June 30 1010:
Common........ .............
$105,518,500 00
For the year ending June 30 1910 maintenance charges,
Preferred--------------------114,173,730 00
renewals and depreciation, averaged as follows:
-----------------------$279,092,230 00 including
__
«•> 009 •>Per locomotive___________________
Per locomotive .mile___
.
1287
The outstanding Funded Debt of the System (deducting Per passenger car, Including mall and express...
1,249*47
Per passenger c a r ________ . .
_ ^
0I3C
bonds in treasury) amounted on June 30
Per freight car ________________________
108*23
1909 t o ---------------- ----------- -------------------------------$311,218,820 00 Per freight car mile...... ............................. .
oq91
THE CHRONICLE
950
The foregoing average maintenance charges include a
proportion of unlocated expenditures for Maintenance of
Equipment charged to Superintendence, Shop Machinery
and Tools, Injuries to Persons, Stationery and Printing,
Other Expenses and Maintaining Joint Equipment at
Terminals.
The amount to the credit of the Equipment Depreciation
Reserve June 30 1009, as shown In the last Annual Report,
was $181,017 45, 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 o f______________________________
$183,708 14
The following sums were credited to the reserve
during the year:
Estimated depreciation accrued.....................— $2,275,711 31
Renewal charges_____________________________
1*7,224 38
Salvage______________________________________
143,083 40
Cash collected for equipment sold and equip
ment destroyed on foreign lines Including In
surance collections_________________________
281,911 lo
2,888,530 24
Charges to the reserve for equipment retired
during the year were as follows:
3
9
1,372
13
Locom otives.........- ......................................
Passenger-Train Cars----------------------------Freight-Train Cars--------------------------------Miscellaneous Cars--------------------------------
The number of passengers carried one mile increased
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
11.83 per cent.
.
The following is a consolidated statement of the business
of the System for each fiscal year during the period since
January 1 1896:
Expenses,
Gross
including
Revenues,
Net
Interest on
Taxes,
A verage including
Revenue.
Miles Income Jrom Rentals and Bonds.
Other
Other
Operated
Charges.
Sources.
$53,785
6,443 $44,532,628 $36,038,455 $8,440,387
39,306,126 30,513,553 7,045,988 1,836,584
6,936
40,762,933 29,332,964 7,241,972 4,187,997
7,032
46,498,899 29,414,427 7,345,166 9,739,304
7,341
54,807,379 34,502,039 7,830,810 12,474,529
7,807
60,275,944 36,272,432 8,438,985 15,564,526
7,855
63,668,390 40,635,576 9,134,485 13,898,329
7,965
69,419,975 44,641,434 9,418,770 15,359,771
8,179
69,189,739 47,835,883 9,611,510 11,742,346
8,305
79,390,749 51,035,355 10,622,184 17,733,209
8,433
94,436,574 61,779,916 11,487,934 21,168,723
9,273
91,289,770 65,031,582 12,579,301 13,678,886
9,415
95,424,091 61,458,019 13,548,081 20,417,990
9,794
75,133,314 11,984,151 20,425,784
107,543,250
9,916
Fiscal Year
Ending
June 30.
1897 (18 mos.)
$3,072,298 38
30.314 83
8,9^9 70
[V O L . L X X X X I .
1898 ___________
1899 ___________
1900 ___________
1901
___
1902 ___________
1903 ___________
1904 ___________
1905 ___________
1906 ___________
1907 ___________
1908 ___________
1909 ___________
1910
___
698,706 38
$2,373,592 00
Add— To adjust Equipment Depreciation Reserve so that this
account shall rcllect the depreciation accrued since July 1
1907 on equipment In service (see note preceding)...........- - 3,990,130 34
The following statement shows the gross operating reve
nues of the System (exclusive of income from other sources)
per mile of road operated for each fiscal year since July 1 1896:
Balance In reserve June 30 1910---------------------------------- $6,363,722 34
Y e a r e n d in g J u n e
The following charges were made to Additions
and Betterments in respect of additional equip
ment purchased and built during the year and in
respect of payments made for equipment received
during prior years:
52 Locomotives _ - ------- ----------------------------------- ---------------$? ’ ? ? « ’ 7 sm “ “
208 Passenger-Train Cars------------------------------------------------- r ’ oiS’ noi.
4,424 Freight-Train Cars---------------------- --------------------- -------- 5 i n ? o o ’
$8,862,765 96
Less— Value of equipment retired during the year charged to
$8,164,059 58
A statement of the locomotives in service and of their
tractive power will be found on page 39 [pamphlet report].
M A IN T E N A N C E OF W A Y A N D ST R U C T U R E S .
The following statement shows the sums charged to Oper
ating Expenses for Maintenance of W ay and Structures
during each year since July 1 1896:
Average Operated
7 Year ending June 30— Mileage.
1897 _____
6,443.81
■SOS'
6,936.02
1809----------------- ____7,032.62
7,341.34
1900------------------------to m ------------ -------- ' _ -7,807.31
inn?..............
_7.855.38
inn?-------------------------7.965.13
in n i----------------------------- .-8,179.59
ioiv, -----------------------.-8,305.40
i ona------------------8,433.99
1007
--..9,273.15
1008
----------9,415.01
1 9 09'........
--9,794.86
1910---------------------.9,916.33
Total
Expenditure.
$6,282,923 15
8,281,30788
7,672,107 62
6,354,37210
6,433,840 36
6,141,46639
9,304,89204
9,170,23407
11,385,41833
12,475,40797
15,286,06266
14,120,82802
12,884,40681
17,807,13620
Expenditure
per Alile.
$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
CO M PAR ISO N OF O P E R A T IN G RESULTS.
The following is a statement of revenues and expenses of
the System for the fiscal year ending June JO 1910 in com
parison with the previous year:
Increase ( + ) or
Year ending
Year ending
Decrease (— ).
June 30 1910. June 30 1909.
Operating Revenues—
„„
Freight _______________ $71,194,055 59
$64,212,63810 + $6,981,417 49
Passenger__ __________
25,437,181 98
22,734,50532 + 2,702,676 66
Mall, Express and Miscel
7,318,573 45
+1,043,383 65
laneous ____________
8,361,957 10
Total Oper. Revenues.$104,993,194 67 $94,265,716 87 +$10,727,477 80^
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
52
General Expenses--------2,4o8,oo0 o2
2,127,20.> 07
+ $4,922,729
+ 1,656,150
+ 209,438
+ 5,146,961
+ 331,345
39
07
38
40
45
Total Oper. Expenses. $69,761,819 88 $57,495,195 19 +$12,266,624 69
Xct Operating Revenue. $35,231,374 79 $36,770,521 68
Ratio of Operating Ex
penses to Operating
66-44
60.99
Revenues.....................
51,539,146 89
+ 5.45
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
______
30—
_
_
_ _________ - . _
_ . _ _________
_ __________________
__ _______ _________
_
__________ _____ -______________________ ___
_____ ______ ____ ___
______ _____ _________________
_ _ ________ __ ______ _____
-- -- __ -- ___________
.
__ - ___________________
____
- ________________
______ - ___________ ___
G r o s s O p e r a tin g
R even u es.
$30,621,230
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
A vera ge per
M ile o j R oad.
$4,752
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
04
69
80
49
41
97
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:
Year Ending June 301897 .
1898
1899 .
1900 .
1901 .
1902
1903
1904
1905
1906
1907
1908
1909
1910
Passenger
Revenue.
Freight
Revenue.
$22,067,686
28,588,716
29,492,586
33,729,332
39,052,557
4 1,815,607
44,622,438
47,762,653
47,408,982
54,598,902
65,500,309
61.848.638
64.212.638
71,194,055
77
76
65
83
43
05
71
23
36
82
42
51
10
59
$5,574,288
7,347,301
8,126,141
9,334,661
11,678,017
13,439,384
13,409,985
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
50
08
49
32
98
TREASU RY.
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 rwht to subscribe at 10 2 K 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 $ 3 0 ,27 5,3 6 1 29.
The following averages arc deduced from tables set forth
on pages 34 and 37 [pamphlet report].
E x c h a n g e s o f C o n v e r tib le B o n d s fo r c o m m o n s t o c k a g g r e
The average tons of freight per loaded car mile increased
g a te d $ 4 3 ,9 5 9 ,0 0 0 d u r in g th e y e a r .
from 18.35 to 19.08, or 3.98 per cent.
The average tons of freight carried per freight-train mile
FUEL RESERVE FUND.
increased from 366.06 to 388.80, or 6.21 per cent.
The fund has been increased by earnings derived from
The average freight revenue per freight-train mile de
certain fuel properties.
'
creased from S3 05 to S3 00, or 1.64 per cent.
52
The average passenger revenue per passenger-tram mile Amount to credit of Fund June 30 1909----------------------------703,238 95
Added during the year.............- ........... - ................... ............
was SI 21, or the same as in the previous year.
___ $1,016,915 80
The average passenger-train revenue per passenger-train
In Fund June 30 1910
mile increased from SI 5‘2 to SI 53, or .66 per cent.
On June 30 1910 there remained in the treasury of the
The tons of freight carried one mile (revenue and com
pany) increased 1,532,7.85,910, or 19.89 per cent, while Cherokee & Pittsburg Coal A, Mining Company an unex
freight-car mileage (loaded and empty) increased 94,604,750, pended surplus amounting to $ 1 5 2 ,5 1 3 0 8 , so that the total
or 15.96 per cent, and freight-train mileage (freight and amount available for replacement of fuel properties in which
your Company is interested is $1,169,428 88.
mixed) increased 2,711,479, or 12.88 per cent.
O ct . 8 1910.]
951
THE CHRONICLE
A R IZ O N A & C A L IF O R N IA R A I L W A Y .
The extension of this line from the west bank of the Colo
rado River to a junction with the main line at Cadiz, Cali
fornia, a distance of 83 miles, was completed during the
year and opened for traffic July 1 1910.
CONCHO SA N SA B A & LLAN O V A L L E Y R A IL R O A D .
.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.
F U L L E R T O N & R IC H F IE L D R A I L W A Y .
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.
G U L F & IN T E R -S T A T E R A IL W A Y OF T E X A S .
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
discharge their cargoes. It operates a tug and barge line
between Port Bolivar and Galveston, and constitutes the
shortest line between Galveston and Beaumont, at which
latter point it connects with the leased lines of the Gulf
Colorado & Santa Fe Railway Company.
Heavy work is in progress to reduce grades and curvature
of the San Angelo 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
the Gulf of Mexico and the Pacific Coast.
A D D IT IO N A L M A IN -T R A C K M IL E A G E .
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 W ORK IN PROGRESS:
Illinois and Missouri Divisions—
Edelsteln to Monica, III______________________ 10.22 miles.
Wllllamsfleld to Knox, 111____________________ 15.70 “
Illinois River to Chllllcothe, 111_______________ 1.70 “
Wyaconda to Hart, Mo __
...
. ___ 64.14
“
Rothvllle to Carrollton, M o___________________ 31.75 “
-------123.51 miles.
Lines West of Albuquerque—
Rio Puerco to Suwanee, N. M_______________14.39 miles.
Rita to Laguna, N. M__
__ _
_ _
9.08
McCartys to Horace, N. M__________
_ _
10.73
Winslow to Dennison, Arlz____
_15.84
Flagstaff to Ash Fork, Arlz_______
_ 60.03
Daggett to Barstow, Cal_______ _
_ _ 8.13
Barstow to Cottonwood, Cal.
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 on that date of 669.25
miles of second track in operation.
W E S T T E X A S C O N S T R U C T IO N .
The construction of the lines in W est 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
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 Lainesa, 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.
G E N E R A L C O N D IT IO N S .
Your property is in excellent condition physicallv 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.
W e 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
E D W A R D P. R IP L E Y , P r esid e n t.
T H E ATC H ISO N T O P E K A & S A N T A FE R A IL W A Y C O M P A N Y— S Y S T E M .
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.
Dr.
INCOME ACCOUNT FOR THE FISCAL YEAR ENDING JUNE 30 1910.
Operating Expenses:
Maintenance of Way and Structures____ $17,807,136 20
Maintenance of Equipment...... ................_ 15,560,047 44
Traffic Expenses_______________________
2,114,260 49
Transportation Expenses__ ___________
31,821,825 23
General Expenses.____ ______
2,458,550 52
--------------------- $69,761,819 88
Taxes . ----------------- ------------------ -------- ------ ------ -------- ----4,006,418 83
Balance, Operating Income carried d o w n ............................. 31,224,955 96
Operating Revenues:
Freight _______________________
Passenger______________________
Mail, Express and Miscellaneous.
Cr.
.$71,194,055 59
. 25,437,181 98
. 8,361,957 10
-$104,993,194 67
$104,993,194 67
$104,993,194 67
Interest oil Bonds------- -------- ------------------------------------------ $11,984,151 36
Rental of Tracks and Terminals--------------- ----------------------27,700 99
Hire of Equipment--------------------------- ------------ ---------------1,292,719 50
Advances io Subsidiary Companies.-------------------------------44,655 34
Dividend No. 23 on Capital Stock, Preferred $2,854,345 00
■■
24
“
“
“
2,854,345 00
5,708,690 00
Common $4,714,605 00
18
2,451,292 50
19
2,482,132 50
20
9,648,030 00
703,218 10
Appropriation for Fuel Reserve Fund-----------------------------Appropriated for Additions and Betterments-------------------4,000,000 00
Balance, being Surplus for 12 months ending June 30 1910,
365,846 16
carried to Profit and Loss Account----------- . . -----
Operating Income brought down_____________ _____
. $31,224,955 96
Interest and Discount___ _______________________________
1,171,261 14
Accrued Interest collected from Bondholders converting
bonds Into stock______________________________________
114,690 00
Income from Investments_______________________________
1,245,971 67
Miscellaneous Income Receipts___________________________
18,132 68
$33,775,011 45
$33,775,011 45
PROFIT AND LOSS ACCOUNT TO JUNE 30 1910.
Sundry Adjustments applicable to prior years____________
Balance (Surplus) carried to General Balance S h eet...........
Balance brought forward from June 30 1909______________ $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
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
$532,527,612 73
QENERAL BALANCE SHEET— EXHIBIT C.
INVESTMENTS NEW ACQUISITIONS.
Expenditures to Juno 30 1909, as shown In Annual Report
$7,288,123 86
Expenditures during the Fiscal Year ending June 30 1910:
Grand Canyon R y . ______ ______________
$34,535 75
Gulf & Inter-State Ry. of Texas________ 1,669,691 31
Sunset Western R y -----------------------------5,239 05
Santa Fe Land Improvement Co.—
Chanslor-Cantleld Midway Oil C o_____
923,500 00
Santa Barbara Tie & Pofe Co ............ ..
498,613 43— 3,131,579 54
Cr.
$22,223 23
20,231,803 67
$10,410,703 40
Deductions—
Santa Fe Land Improvement Co.:
Antioch Warehouse.............. .................
Texas Tie & Lumber Preserving Co__
$33,800 00
8,327 57—
$42,127 57
$10,377,575 83
GENERAL BALANCE SHEET— EXHIBIT D.
CAPITAL STOCK JUNE 30 1910.
'
Common_________ _______
Preferred________ ----------
Issued.*
1 In Treasury. | Outstanding.
Af; RIO RAA
$44,500
1 ft l10d,Ul0,9UU
25,800
| 114,173,730
$165,563,000 i
114,199,530
$279,762,530 j
$70,300
$279,692,230
* Not Including $17,286,470 Preferred Stock placed In special trust for
certain purposes by the Reorganization Committee and not used.
THE CHRONICLE
95 2
[V O L . L X X X X I
GENERAL BALANCE SHEET— EXHIBIT B.
EXPEN DITU RES FOR ADDITIONS AND BETTERMENTS, CONSTRUCTION AND OTHER CAPITAL PURPOSES DURING FISCAL
ENDING JUNE 30 1910.
.
Additions and
Betterments.
Cane Belt R B _______ ___
.
_____ .
...................................................
$9,734,350
2,928,066
•56
*173
16,432
96
21
32
51
60
496,502 20
15,370 21
6,211 01
1,469,183 13
Construction.
$1,617 98
1,245,721 43
Other
Expenditures.
645,090 18
4,788,081 43
106,228 92
546 88
17,480 00
8,498 90
10,000 00
100,000 00
47,406 13
4,204 78
158,144
8,418,407
492,259
30,346
Total.
$9,293,589
2,917,989
1,245,665
*173
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
4,204
1,090
158,144
8,418,407
492,259
*26,154
513
*$442,385 94
* 10,076 53
253,244 34
1,090 00
84
63
23
24
53,277 24
*109,777 74
513 45
$23,777,754 11
$7,140,607 65
*$432,609 88
YEAR
00
68
11
51
60
18
63
92
21
89
47
00
90
00
00
13
78
00
84
63
23
26
45
$30,485,811 88
Reinstatement ot Additions and Betterments written oft In 1908 and credited to
280,920 75
$30,766,732 63
Deduction—
240,000 00
$30,526,732 63
’ Credits.
Note.— Additions and Betterments Includes net charges aggregating $3,900,130 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, G
u Colorado
Gulf
& 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.
$527,908,894 28
4,618,718 45
$532,527,612 73
7,288,123 86
7 ,1 3 6 ,3 1 3 41
$546,952,050 00
ASSETS.
Railroads, Fran
chises & Other
Property, lnclud.
Stocks, Bonds,
etc.,(Exhibit A ).
Expenditures 1 r r
Additions a n d
Betterments,Con
struction
and
Other CapltalPurposes during Cur
rent Fiscal Year
(Exhibit B)____
Total........
Investments, New
Acquisitions (Ex
hibit C )_____
Balance
carried
d o w n ______
Balances
June 30 1910.
Balances
June 30 1909.
Capital Stock:
Outstanding (Ex
hibit D).........
Funded Debt:
Bonds Outstand
ing (Exhibit E ).
$235,733,230 00
$532,527,612 73
311,218,820 00
$279,692,230 00
302,004,952 71
30,526,732 63
$563,054,345 36
10,377,575 83
8 ,2 6 5 ,2 6 1 5 2
$581,697,182 71 $546,952,050 00
Other Investments.
$12 725,569 38
Material and Sup
18 386,494 20
plies ..............
10,979,159 03
Prepaid Insurance
Premium a n d
439,522 88
Prepaid Rentals.
109,469 58
Guaranty Trust Co.
ot New York:
Cash Deposit lor
,016,915 80
Fuel Reserve Fd
313,676 85
Accounts Itecclva’le
$1,496,531 15 Trafltc Balances. $1,300,114 68
Agents and Con
ductors...........
387,223 71
750,395 79
315,784 67 U. S. Governm’t.
359,632 44
4,837,897 01
3,814,180 26 Miscellaneous__
7,248,039 95
6,013,719 70
Cash on Hand and
In Banks:
$10,579,941 79 Time Deposits__ $11,758,568 65
Check Deposits &
19,450,563 04 In Treasury........ 23,056,326 42
34,814,895 07
30 036,504 83
$8,435,534 38
$7,136,313 41
120,327 96
313,676 85
181,617 45
887,643 35
1,489,373 91
95,388 41
2,887,329 25
1,614,237 09
4,379,096 24
8,961,809 80
$581,697,182 71
Balance from Capi
tal Account........
Bridge Renewal Re
serve..................
Reserve tor Fuel
Lands:
The Atchison To$312,960 64
peka&S.Fc Ry. $1,010,178 74
Cherokee & Pitts.
737 06
Coal & M. Co..
716 21
Equipment Depre
ciation Reserve..
Equipment Recon
struction Ilcs’ve
Rail Renewal Res'e
Tie Renewal Res’vc
Dividends on Pre
ferred and Com
mon Stock:
No. 2-1 on Prefd.
Stock, payable
Aug. 1 1910___ $2,864,346 00
2,854,345 00
28,605 00
32,984 25 Unclaimed Dlvs.
Accrued Taxes not
yet Due........—
Interest on Funded
Debt:
$3,700,731 24 Accrued, not due $3,554,424 53
Coupons not pre
622,500 00,
sented _______
678,365 00
$3,107,502 49
3,119,555 32
1,266,055 24
1,468,696 75
9,000,000 00L18,821,250 741
$74,631,437 28
$55,888,064 46
Accounts Payable:
Pay Rolls........... $3,544,621 07
Audited Vouchers 7,256,158 85
Traffic Balances.
1,271,839 82
Miscellaneous . . .
2,636,315 67
Appropriated
come:
$4,000,000 00
$55,888,084 46
Balances
June 30 1910.
LIABILITIES.
5,000,000 00
In
Expended f Qr
Additions and
Betterments__
Reserve for fu
ture Additions
& Betterments .
Profit and Loss:
Surplus....... .
$8,265,261 52
1,016,915 80
0,363,722 34
446,029 34
918,866 45
482,815 19
2,882,950 00
1,856,292 23
4,176,924 58
14,708,935 41
$13,280,920 75
20,231,803 67
$74,631,437 28
We have examined the books and accounts ot The Atchison Topeka & Santa Fe Railway and System lines and certify that the above Balance Sheet and relative
Income and Profit and Loss Accounts are properly drawn up therefrom, and show the correct Income of the Company's System for the year and the true financial condi
tion at the close of the year. We have been provided with satisfactory certificates from the Trustees as to the securities pledged under the different mortgages, and
we'have also verified the cash Items.
* N&to Ytrlc, September 12 1910.
.
; ,
..............
j .
PRICE, WATERHOUSE isQQ., Auditors.
OCT. 8 1910.]
THE CHRONICLE
953
L O U ISV IL L E & N A S H V IL L E R A IL R O A D C O M P A N Y .
FIFTY-NINTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDED JUNE 30 1910
L o u isv ille ,
Ky.,
October
5 1910.
T o the Stockholders o f the L o u isv ille & N a sh v ille R R . C o m p a n y :
The Board of Directors of your Company respectfully
submits the following report for the fiscal year endecfJune 30
1010\
MILEAGE.
I.
L in e s O w ned an d Operated.
(1) Owned
......... J............. ................. ................. ..............3,495.06 "****■
(2 ) Operated but not Owned—
(a) Operated as owner of entire Capital Stock___ 53 5.03
(o) Operated under lease__ ________ ___________118.97
(c) Operated for account of owners____________ 221.88
(<D Operated under trackage arrangements____ 219.61
----------1,095.49
T o t a l o p e r a t e d ___________________________________
A v e ra g e m ileage o p e ra te d d u rin g th e y e a r , 4,554.30'
4,590.55
$2,588,006
Bonds Issued—
Unified 50-Year 4% Gold______
Atlanta Knoxville & Cincinnati Dlvl 4 % 'G old!I
B‘Table ? n f June
Less—
* ,a
110,000
$155,344,500
nnn
7 ’, 0 7 9 ’. 000
7 94 ,000
27,717,000
’ DVbYIi'handVVf'piibiio'.*127,627,800
Decrease in Bonds outstanding ln hands of public...........
Accounted for as follows—
Bonds drawn for Sinking Fund, including Re
deemed and Unredeemed Bonds
J6 G8 OOfl
Bonds matured, Including Rcdecmed'and'un're_
1 Q2n noa
deemed Bonds__________
Bonds purchased and taken Into Trcas’y $6 6 " 6 6 6
,
Bonds purchased for Sinking Funds.. . 49^000
------- 1----115,006
2,294.56
Paducah & Memphis Division (leased to Nashville
Chattanooga & St. Louis Ry. at 5% on cost of
Road) ______________________________ _____ ____ 254.20
Less— Mileage used by this company under trackage
arrangements________ _________ _______________ 5.46
•
---------- 248.74
Clarksville & Princeton Branch— Gracey, K y., to Prince
ton, Ky. (leased to Ohio Valley Ry. Co. at $12,039 70
20.56
per annum )._______ _____ ____________________________
$2,70$ ,006
Less—
Bonds withdrawn from Treasury and
canceled for Sinking Funds_______ $100,000
Bonds matured—
In Treasury______________ $136,000
In Sinking F u n d __________ 166,000
„
,
,,
302,000
Bonds sold—
Atlanta Knoxville & Cincinnati
Division 4% Gold........................... 150,000
552,000
Decrease as shown above................................ .................
152.04
$2,151,000
$2
151.000
GENERAL RESULTS.
.
269.30
Total mileage__ _______ __________________
.
7,154.41
Total mileage June 30 1909_________ _______ ________ ______ 7,002.37
The General Results, as given in detail in Table No 1
are here summarized.
* ' ’
Operating R evenu es.............................. ..........$52,433 381 * 4
Less Operating Expenses (66.72% )_______ 34!985,578 78
S ° peratlng Revenues (33.28% ).........“ ..................... $17,447,803 16
JaXeS - ------- -------------------------- ------------------- -------------1,602,632 32
159.59
$15,845,170 84
7 55
------- -—
1910, total lssue (See G lan ce Sheet,
TOJune°3U
0tSlt9 iI10 lnK Bonded Debt ln bands of public,
2,352.70
.
30
Hefri Sin e^ in u £ ru ? - S aj C ollateral 1 1 I I 1 1 I I I _
H e ld In S in k in g F u n d s ______________________
H I . — L in e s O w ned by this C o m p a n y but O perated by
other C o m p a n ies .
"
Increase_______________________________
Accounted for as follows:
Additions—
Louisville & Atlantic R ailroad....................... 104.10
Madlsonville Hartford & Eastern Railroad___ 55.49
„ .
Deductions—
Sundry net deductions_________ _____
« « 7.» nn«
2,i25!000
$2,698,000
Net Increase over last year................................ .........
In Treasury_____________
Nashville Chattanooga & St. Louis Railway (a majority
of the Capital Stock owned)_______________ _ _
9 7 5 85
Central Transfer Railway & Storage Co., Louisville (one’
half of the Capital Stock owned)_____________________
.0 7
Georgia Railroad and Dependencies (Interested as joint
lessee)------------------------------------------------------------------571.00
Chicago Indianapolis & Louisville Railway (a majority
of the Capital Stock owned Jointly with the Southern
Railway C o.)___ ______
615.75
Louisville Henderson & St. Louis Railway, less mileage of
Louisville & Nashville Railroad operated under trackage
arrangements (a majority of the Capital Stock owned)
181 70
Woodstock & Blocton Railway (one-half of the Capital
’
Stock owned)..............
.
7 73
58.14
$1,920,006
B o n d s O w n e d (see T a b le No. V ) :
I I . — L in e s Operated U n der T h eir Sep ara te O rganiza
tion s in which this C o m p a n y Ow ns a M a j o r it y o f the
C a p ita l Stock or is Interested as J o in t Ow ner or L esse e.
Less— Mileage used by this Company under trackage
arrangements:
Woodstock & Blocton Railw ay..
7 73
Nashville Chattanooga & St. Louis Railway........ 50 4 1
Bonds* Matured— ---------------------------------------------- S668.000 $155,234,500
Redeemed—
Louisville & Nashville Sinking Fund Gold. .
$ 1 . 7 9 7 00#
Unredeemed (Not Presented for Payment)__
’
’ '
Louisville & Nashville Sinking Fund Gold____
123,006
152.04
BONDED DEBT.
Bonded Debt June 30 1909, total Issue...........
* 1 kk v i a 5 0 0
Bonds Drawn for Sinking Funds—
................. $ i o o , 2 J 4 , o u u
Redeemed—
Evansville Henderson & Nashville
Division Gold___________________ $69,000
General Mortgage Gold____________ 420,000
Pensacola & Atlantic R R . 1st M. Gold 78,000
Pensacola Division 1st M. Gold_____ 20,000
Louisville & Nashville Sink. Fd. Gold 20,000
$007,000
Unredeemed (Not Presented for Payment) —
General Mortgage__________________ $54,000
Evansville Henderson & Nashville
Division Gold___________________
6,000
1,000
Henderson Bridge Co. 1st M. Gold__
61,000
Other Income—
From Rents____________ _
From Investments________
From Interest ___________ 11Z1111111111
From Outside Operations________________
j 581
«7
7 8 8 ’vm no
363 581 95
121,232 00
----------- :--------- 1,864,595 40
Total Income------------------------------------------ ----------------- $17,699,766 24
Deductions from Income—
Interest on Bonded Debt_____________ . $6,088 919 00
R en ts------- ------------------------407|392 07
Sinking Funds.
266,240 17
6,762,551 24
aaj
South & North Alabama R R . Company surplus (included* 1 0 ' 9 3 7 ’ 2 1 5 ° °
ln above)..............................................................................
623,958 9 3
Net Income carried to Profit and Loss Account...............$10,413,256 07
$668,000
Fo?deeUiteasC
eeTaCb?e No! I i ° fit and L° SS ACC0Unt amoUn‘ * t 0 « 7-675.361.
GROWTH OF TRAFFIC
The growth of traffic for the past ten years is shown by the following table:
Y ears.
1900190119021903190419051906190719081909-
A v era g e
M ile s
O p e ra te d .
O p e r a tin g
R ev en u es.
1901___
3,169.27
1902___
3,326.75
1903___
3,438.93
1904___
3,618.19
1905____
3,826.31
1906____
4,130.91
1907___
4.306.33
1908.....
4,347.80
4,393.11
1909___
1910................................
4,554.30
$28,022,206
30,712,257
35,440,377
36,043,792
38,517,070
43,008,996
48,263,045
44,620,281
45,425,891
52,433,381
i
O p e r a tin g
E xp en ses.
90
37
84
73
72
23
20
16
45
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
*20,627,499
♦34,085,578
50
84
44
27
97
71
54
05
48
78
N et
O p e r a tin g
R ev en u es.
: $9,789,173 40
1 9,809,819 53
11,478,565 40
| 11,802,244 46
j 12,027,049 75
!i 12,075.532 52
12,482,642 66
11,025,990 11‘
I 15,798,391 97
1 17,447,803 16
1
O p e r a tin g
R ev en u es
P e r M ile .
O p e r a tin g
E xp en ses
P e r M ile .
$8,841
9,231
10,308
10,210
10,066
10,411
11,207
10,262
10,340
11,512
$5,753
6,283
6,970
6,948
6,923
7,488
8,309
7,726
6,744
7,681
84
91
26
57
37
50
67
72
26
04
07
14
43
65
12
29
00
73
08
88
N e t O p e r a tin g
R even u es
P e r M ile .
$3,088 77
2,948 77
3,337 83
3,261 t2
3,143 25
2,923 21
2.898 67
2,535 99
3,596 18
3.831,06
P.
C. o) E xp .
to O p e r a tin g
R ev en u es.
65.07
68.06
67.62
68.05
68.77
71,92
74.14
75.29
65.22
66.72
•Docs not Include Additions and Betterments heretofore Included In Operating Expenses.
RAILS.
The rails in main track operated, except trackage rights,
are shown below:
Steel Ralls—
M ile s
Under 58 M pounds per yard______________________ __ 1 5 2 . 6 5
58
pounds per yard_________________________
___ 601.37
60 to 65 pounds per yard_________ ______ ___________
344 !o7
68 pounds ptr y a r d ..___
________
79 22
70 pounds per yard...... .............................
1 431 01
80 pounds per yard___ ______________________
85 pounds per yard________________________
141 pounds per yard____________________ _____
l t748.88
11.60
.74
M iles.
Iron Ralls______________________________________
4,370.33
.61
T o ta l________________________________
To which add—
Operated under trackage arrangements____ ___
4,370.94
Total mileage owned and operated (see abora)
4.590.55
219.61
[Y o u . l x x x x i .
THE CHRONICLE
954:
EQUIPMENT OWNED.
The rails in main track owned, operated by other com
panies, are shown below:
Steel
56
ns
60
68
80
85
Ralls—
pounds
pounds
pounds
pounds
pounds
pounds
_ Miles.
yard........ ......................................................
9 'si
yard ..................- ......................................
yard...............................................- ..............
yard------------------------------ ..........................
yard...............................- ............................
yard------------------------------------------ -------- - __
274.76
Less portion of Paducah & Memphis Division used by L. & N.
5.46
Railroad under trackage arrangements-----------------------------------per
per
per
per
per
per
Locomotives.
Louisville & Nash
ville Railroad:
On hand July 1’09
Bought and built.
Acquired by pur
chase of other
roads _____
Changed --------
260.30
Total mileage operated by other companies (see above)...........
A D D IT IO N S A N D B E T T E R M E N T S — R O A D .
During the year there were charged to Property Invest
ment, Road, expenditures for additions and betterments as
follows:
Right of way and station
grounds..........................
Keal estate......................Widening cuts and Oils----Protection of banks--------Grade revisions and changes
- ............
of line.............
Tunnel
Improvement-------B v t f *.Ar!!U! ! - a n d - - C-U- -
* ^ ’75«
40 m
97
38.477 93
1,881 21
£06'saa
09
cr . SJ4 ms
1 9 8 .6 3 4 44
Increased weight of r a i l70,481
- 58
co
5,051 48
Improved frogs & switches
Track fastenings and other
9,268 70
material........................
9,180 88
Ballast ............. - - - - .........
395,037 08
Additional main tracks----127,026 34
Sidings and spur tracks----55,265 30
Terminal yards.................
Fencing right of way-------lo,967 8o
Improvement of over and
251 41
under grade crossings—
Track elevation, elimination
of grade crossings, &c__
$41,474 84
Interlocking apparatus----14,701 31
Block and other signal ap
paratus______ ____ —
30,720 99
Telegraph and telephone lines 53,369 96
Station buildings and fixtures 140,262 03
Shops, engine houses and
turn-tables____ ______ Cr. 2,076 99
Shop machinery and tools.
33,421 07
Water and fuel stations___
30,638 17
Dock and wharf property..
10,339 75
Miscellaneous structures__
47,085 77
Total for year end. June
30 1910 (see Table VI) .$1,890,462 33
Total for year end. June
866,546 87
30 1909....................
Increase_______ _____ $1,023,915 46
A D D IT IO N S AN D B E T T E R M E N T S — E Q U IP M E N T .
The following expenditures for additions and betterments,
equipment, were charged to Property Investment, Equip
ment, during the year:
Charges:
Locomotives—
Thirty-four (34) bought or built...................
Expenditures on new Locomotives not yet
com pleted------- ------------------------- -------pans------.nuinnlncr with self-cleaning ash pans.
Equipping
Passenger Train Cars—
Thirteen (13) bought or built---------- ------Equipping with steam-heating apparatus..
. .
900 7 1
$428,709 71
Work Equipment—
„
,
Elghty-onc (81) Freight Train Cars changed
to Work Equipment.
.........................
Equipping cars with air brakes.....................
$466,757 51
„
no
7.431 66
83,856 37
„
02
93
54
85
1,275,541 34
25,204 55
1,420 79
$1,852,780 56
Total charges------------ ----------- ---------------Credits:
fj°Twcn£1^(20) destroyed or sold-------------------
$205,021 68
PaE l| h f ( 8 ™ ntroyre S^r sold----------------------
20.611 34
FrN?ne hundred‘andfifty-four (954) destroyed
or sold...........................................................
.>08,398 46
Freight Train Cars—
, ^ ... , „
,
Elghty-onc (81) changed to Work Equip
ment --------- ---------------------------------------- _
1,421
41,473
2,120
42
81
------ 1,544
-43,810
81
954
1,035
Changed .............
Destroyed or sold
115
South & North Ala
bama Railroad:
On hand July 1 '09
115
1,429
42,775
247
3
Destroyed.
On hand..
R E S E R V E FOR AC C R U ED D E P R E C IA T IO N E Q U IP M E N T .
Credits:
^ lo c o m o t iv e s ...............................................
Passenger Train Cars.................................
Freight Train Cars.....................................
Work Equipment--------------------------Renewals—
For twenty (20) Locomotives destroyed
and sold ..................................................
For eight (8) Passenger Train Cars dcstroyed ____________________________
For nine hundred and fifty-four (954)
Freight Train Cars destroyed-----------For one hundred and sixteen (116) Work
Cars destroyed______________________
$385,096 92
®7-™* «?
1,2S?*?a5
34,403 00
$1,783,683 83
$15,020 87
10,988 67
208,267 53
13,13133
247,417 40
This amount has been charged to Operating Expenses
and to Outside Operations.............- ............$2,034,946 39
Balance June 30 1909................ - - - - - - - - - - . $720,224 o9
Amount of entries made during this llscal
year to adjust Reserve for Accrued De
preciation to June 30 1909—
Locom otives________________$3,577,81307
Passenger Train Cars________
851,18643
Freight Train Cars__________ 7,938,46266
Work Equipment___________
288,41273
12,655,874 89
13,376,099 45
Total Credits to Reserve for Accrued Depreciation— $15,411,045 87
524,350 7~
85,i
Floating E qu ipm entOne (1) barge built.
W One hund^edand fifteen (115) destroyed or
sold . .......................- ..........- .....................
573
13
Work
Freight Cars. Equipment.
Total charges to Operating Expenses for Depreciation
and Renewals________________________ _______ _— $2,031,101 23
Depreciation on Dining and Special Cars— Dining Cars,
charged to Outside Operations-----------------------------------3,845 10
sr,
27,241 36
Freight Train Cars—
, J
. .
Two thousand one hundred and twenty
(2,120) bought or built------------------ ..$1,271,809
Expenditures on new cars not yet completed
2,07o
Equipping tank cars with Improved unload
926
ing device...........- - - - - - - - ..........................
729
Equipping cars with air brakes....................
849
34
Passenger
Cars.
° e£ocomot 1ves
.............................
Freight Tratn Cars....................................
814,499 18
805,790 27
*20.000 ™
».»*a 50
$38,610 34
3g
‘ Renewals—
_
, ,
,
For three (3) Freight Train Cars destroyed. .
1,575 65
192,169 00
This amount charged to Operating Expcnses.
Balance June 30 1909 ------------ -----------------------
$40,185 99
39,206 12
Net charges to Additions and Betterments, Equipm ent.^ ^
^
Total charge for the year (Table V I)....................................... $1,230,450 38
SOUTH & NORTH ALABAMA RAILROAD COMPANY
Charges:
Locomotives
—« •,«, nn
Equipping with self-cleaning ash pans.........
51.21 1 uu
Credits:
Freight Train Cars—
1,979 16
Three (3) destroyed.....................................
Net Credits for the year.
----------------
There was no equipment acquired by the South
Railroad Company during tho year.
35.391 70
Balance to credit of Reserve for Accrued Depreciation
Equipment June 30 1910 ...................................................$14,605,255 60
SOUTH & NORTH ALABAMA RAILROAD COMPANY.
Credits:
44,100 61
Acquiredwith new lines taken Into system this year------------
4?
20.611 34
nS
36,367 uu
$770,398 57
Accrued Depreciation on Freight Train
Cars changed to Work Equipment------
36,367 09
$770,398 57
Total credits...................................- .........................................
Charges:
. . .
,
For original cost of equipment destroyed
and sold, credited to Additions and
Betterments-—
Locom otives__________________________
Passenger Train Cars...........................—
Freight Train Cars------- ----------------------Work Equipment_____________________
$768 16
North Alabama
$79,392 11
Charges:
.
,
, , ,
,
For original cost of equipment destroyed.
Balance to credit of Reserve for Accrued Depreciation—
Equipment, South & North Alabama R R „ June 30 1910
1,979 16
$77,412 9o
•The difference between these credits and the amounts shown as Renewals
In Table IX Is due to credits to Renewal Accounts for salvage from locomo
tives and cars destroyed, and on account of charges to other comapnics for
cars destroyed on their lines.
______________________
M A IN T E N A N C E OF E Q U IP M E N T
1907-1908. 1008-1909. 1909-1010.
1900-1901. 1901-1902. 1902-1903. 1903-1904. 1904-1905. 1905-1906. 1906-1907.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
9.090
8.092
7.884
7.771
9.102
6.747
6.962
6.226
6.043
6.560
Locomotive repairs, per mile...................
1.542
1.100
1.292
1.546
1.646
1.290
1.267
1.429
1.401
1.410
Passenger Car repairs, per m ile..............
.918
.739
.745
1.040
.865
.820
.889
.712
.700
.800
Freight Car repairs, per mile...................
All pmunment Ol tne UOlnpuny m revenue oei vice 1 0 uiuvmcu Wiini uwni cm u. uuvm
7 ,
.1
K
.
V
equipment, which is equipped complete with automatic couplers only. The number of freight cars equipped with air brakes
42The foHowing8table shows the equipment on hand at the close of each of the past ten fiscal years:
LOUISVILLE & NASHVILLE RAILROAD AND OPERATED LINES
Passenger Cars-------—
1000-1910.
1900-1901. 1901-1902. 1902-1903. 1903-1904. 1904-1905. 1905-1006. 1906-1007. 1007 -1908. 1908-1909.
028
890
865
806
745
705
589
676
605
563
590
573
559
572
535
515
462
471
501
456
--------------------43,019
41,720
39,528
589
40,
36,633
33,241
24,880
30,905
28,118
23,663
1,429
1,421
1,452
1. 503
1,280
1,149
586
779
705
534
Oct. 8 1910.
THE CHRONICLE
P A Y M E N T S TO BE M ADE ON ACCOUNT OF S IN K IN G
FU N D S, 19 JO-1911.
Newport & Cincinnati Bridge C o .____ ____________ July
Henderson Bridge Co____ _______
Aug
Pensacola Division_________________________ M l l S e p t .
Evansville Henderson & Nashville Division .
Dec
Pensacola & Atlantic Railroad.................
Pci)
General Mortgage------- ---------------------------- l A I U I I ju n e
l 1910
$14 000
li ni n' '
8 400
1 19 0
21 000
i 1910
121 000
1 t o n " nn’ ?nn
1 1911 I
Total ...........................................- ......................................................$804,600
g u a r a n t ie s .
Ihe Company has guaranteed, by indorsement or by agree
ment, the following obligations of other Companies:
South & North Alabama R R . Co. Consolidated Issued" Annu<ilCh ge.
Mortgage 5% Gold Bonds—
T r.,l{1
0tl?nSCI? e1* c? v nr.s PrInclpai and interest___ $10,000,000 $900,000 00
Louisville it Nashville Terminal Co. First Mort
gage 4% Gold Bonds—
Endorsement, made jointly and severally with
Nashville Chattanooga & St. Louis Railway,
r ,c°vers principal and interest of bonds Issued.. 2,535,000 101,400 0
Loulsv He & Nashville-Southern, Monon Collateral,
’
Joint 4% Gold Bonds—
This Company and the Southern Ry. Co. arc
cacti liable for one-half of the principal and in
terest of bonds Issued, $11,827,000. One
year's Interest, $473,080; this Company’s lia
bility, one-half. Should either Company de
fault In its obligations to the other, In respect
of the bonds of this issue, the pledged shares
of stock belonging to such Company so in de
fault shall become and be the property of the
Company not in default, which thenceforth
shall be liable in severalty upon all covenants
contained in the bonds___ ____ .
_
5 91 s 'inn 21 a a to 00
’
'
’ 40 00
Nashville & Decatur Railroad, Rent Dividend— ~~
Under lease of tills property the payment of
7 'A % annual dividend to stockholders Is guar
anteed as rent. Amount of Capital Stock
$3,553,750 ______________
_
npr koi o k
- 00,031 zo
Terminal Railroad Association of StVLouis'—
One-fourtcenth of Interest on $19,994,000 Gen
eral Mortgage 4% Gold Bonds now outstandyear’s interest, $799,700; L. & N.
1 1
1 ■' 8 Pr<Jportlon’ one-fourteenth
’
71
Georgia
Railroad
Lease—o5 /7, i1z2 j5 /1
Th^ C
; T n nyrl? }}abI®
with the Atlantic
Coast Line Ralhoad Co. for the yearly rent,
under the lease of the Georgia Railroad,
amounting to $600,000. This Company’s lia
bility, per annum___
_
0
nnn nn
Memphis Union Station Company—
.............
300,000 00
5% Collateral Gold Notes due Nov. 11911______ 1 ,500,000
75 000 00
Secured by deposit of $2,000,000 First Mortgage
,uuu uu
4% 50-Year Gold Bonds of the iMcmphls Union
Station Co.
Endorsement, made Jointly and severally with
Nashville Chattanooga & St. Louis R y.,
Southern Ry. Co.. St. Louis Iron Mountain &
Southern Ry. Co. and St. Louis Southwestern
Ry. Co., covers principal and Interest of the
notes and bonds Issued.
The notes Issued for the creation of Union Passenger
Station facilities at Memphis, Tenn., aggregating $ 1 , 2 0 0 ,0 0 0
made jointly with various roads entering Memphis, men
tioned m last year’s report, have been paid by the interested
lines.
This Company’s proportion amounted to $122,400.
immunities and franchises (except the franchise to exist as a
corporation) of that Company were conveyed to the Louisv Nashville Railroad Company, and the operations
rpnnrtN°« k mbo r
1909 and mileagc, are included in this
report, shortly after deed was executed, suit was brought
in
. . Irankhn County, Ivy., Circuit Court to have the
acquisition of the Frankfort & Cincinnati Railway by the
Louisville & Nashville Railroad Company declared unlawful
as contrary to the Constitution of Kentucky. Under an
order issued by the Court the accounts of the Frankfort &
uincmnah Railway Company are being kept in such manner
still p'm dm C1 accountlng m;Cv b(; had
LOUISVILLE & ATLANTIC R A ILROAD.
As mentioned in last year’s report, the entire capital stock
and all of the bonds of the Louisville & Atlantic Railroad
Company were acquired by this Company. The legal title
to the 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.
MADISONVILLE HARTFORD & EASTERN RAILROAD.
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 MadfsonvSle!
k y ., through Hopkins, Muhlenberg and Ohio counties,
Kentucky, in a northeasterly direction to a connection with
the Louisville Henderson & St. Louis Railway, near Fordsville, k y ., providing a short line from coal fields and rich
agricultural districts of Western Kentucky to Louisville
Has (mmpany has advanced on account of construction of
this road $ 1 ,(>-7,698 11 for which bonds of the Madisonville
Hartford & Eastern Railroad Company will be received.
Ihe track-laying was completed and the line placed in opera
tion on January 4 1910.
1
FRANKFORT & CINCINNATI RAILW AY
This Company owns all the capital stock of the Frankfort
V o o o 1'1
^ 1
C\JmiAany and, by deed dated October
28 1909, the legal title to the properties, rights, privileges
required. The suit is
R EOEMPTION OF'LOUISVILLE &; NASHVILLE RAILROAD COMTHRE E -YE A R FIVE PER CENT GOLD NOTES
On March 1 1907 $6,500,000 of these notes were issued
which matured March 1 1910. Prior to that date, notes were
pin chased and canceled amounting to $2,793,000, leaving
ali ?eendrpHoUt
d# e ?f maturity $3,707,060, which have
all been redeemed with the exception of $21 000
R7 ™
f
AD co" '
A t r U °1 Ql°n d,
u
o n, APril 1 1880 and matured on
( inn nf
n l ! wh,ch have been redeemed with the cxcepU01.1 of r?1- ’^ObO, for which cash has been deposited with the
Union 1 rust Company of New York, Trustee.
Ihe collateral security, owned by this Company and held
\lrndf . thlsn l r yst 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
the ^oiithCA
Fund Bonds, has been surrendered to
the South & North Alabama Railroad Company, this Com
pany receiving in payment therefor South & North Alabama
Bondsad Company Flve Pcr Cenfc Consolidated Mortgage
NEW FORM OF GENERAL BALANCE SHEET
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 on balance sheet
with those of previous years.
dewiroMhoValrt taine£POrt
whT h,f
which
served
For
CcmPtroller for «*
Board acknowledges the fidelity and efficiency with
the officers and employees of the Company have
its interests.
y
the Board of Directors,
II. W A L T E R S , C h a irm a n .
M. H. SM ITH , P resid en t.
REDUCTION OF GRADES, NASHVILLE TO HENDERSON.
The revision of line from Madison, Tenn., on the Main
feteni’ (o Goodletts, Tenn., 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 l b 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
Ihe distance from St. Louis via the
revised line will be shortened 0.47 of a mile
Construction has been undertaken for the completion of
the reduction of grades on the Henderson Division bv con
structing a new roadway between Guthrie, K y ., and Render
son, K y ., 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
gTilde will be 0.(> per cent compensated, and the maximum
curve 4 degrees.
'
•
955
HASKINS & SELLS,
CERTIFIED PUBLIC ACCOUNTANTS.
30 Broad Street, New York.
N ew
Y o r k , S ep tem ber 28 1910.
H enrii W a lters, E s q . C h a irm a n o f the B oa rd L o u isv ille
N a s h v ille R a ilroa d C o m p a n y , 71 B ro a d w a y, N ew Y o r k
db
vtim6 * £ Vei e mmD e-! the books arid accounts of the LouisI no 3n ! 0S nV1
Baikoad Company for the fiscal year ended
June 30 1910, have verified all cash and security balances bv
count or 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
bheet and statements of Income and Profit and Loss are
correct, and truthfully set forth, respectively, the financial
th“ %rioVshmv3n° 1910 a“ d thC reSUltS,rom the o p t i o n for
HASKINS & SELLS,
C ertified P u b lic A c c o u n ta n ts .
R EPO RT OF T H E CO M PTRO LLER.
ACCOUNTING DEPARTMENT, LOUISVILLE & NASHVILLE RR CO
Mr.M. i f .
S m i t h , Sep“ mbCr 28 1910'
I submit herewith statements showing the
financial condition of the Company, and the results from
operation for the year ended June 30 1910, as set forth in the
following tables:
No.
I.— Income Account.
No. I I — Profit and Loss Account.
No. 1 1 1 .— General Balance Sheet
N o. I V .— Bonded^Debt and Estimated Interest Charges
D ea r
S ir
vrV ’- ‘Securi? eST °w n ed by the Company.
J 1..-P r o p e r ty Investment, Road and Equipment.
No. V II.
Operating Revenues, Operating Expenses, and
No. V III.
No.
No.
Total Operating Revenues, Operating
penses and Net.
I X . — Operating Expenses, in Detail.
X . — Passenger and Freight Statistics.
Very respectfully,
Ex
C H A R LE S H A Y D O N ,
C om ptroller.
:
tsj
THE CHRONICLE
95(5
Brought forward-------------- ------------------ -------- -------------------$171,127,177 48
Securities:
.Securities of Proprietary, Affiliated and
____
Controlled Companies— Pledged—
Stocks (Table V )____________________
,*299’792
Funded Debt (Table V ).......................
1,200,000 00
TAB LE NO. I . — INCOME ACCO UN T.
Operating- income—
Rail Operations—
Operating Revenues—
^
_
Revenue from transportation----- -------552,076,740 93
Revenue from operations other than
356,641 01
transportation ___________________
Total operating revenues------------------------------------- 552,433,381 94
...
Operating Expenses—
Maintenance of way and structures— $8,172,166 25
Maintenance of equipment---------------55
Traffic expenses------------------------------In
Transportation expenses------------------55
General expenses---------------------- 1,103,554
25
Total operating expenses (66.72% )---------------------- 34,985,578 78
Net operating revenues (33.28% )-------------------------- 17,447,803 16
° R e v e n u e ^ 10113"
Expense
__________
___________
$425,310 53
304 ,07 s
Surplus--------------------------------------------------------------
121.232 09
Total net revenues------------------------------------- --------517,569,035 25
T a x e s_______________________________________________ 1,602,632 32
Operating Income----------------------------------------------- $15,966,402 93
Income from Rents—
„
,
. ...
.
Clarksville fc Princeton Branch--------,039 70
206*506 £2
Paducah & Memphis Division-----------E quipm ent------------------------------------99
Various sources-------------------------------71,970 45
$581,444 37
Income from Investments—
,
_
Chicago Indianapolis & Louisville Ry.
S to c k ________________
Nashville Chattanooga & St. Louis Ry.
StOQk______________
Charleston Terminal Company Bonds.
Louisville Property Company B on d .. .
Wholesale Merchants’ Warehouse Co.
Bonds . . _______________________
Sundry B o n d s and Stocks----------------Interest from Various Sources (net)--------------
$236,830 12
394,768 00
12,000 00
64,000 00
17,437 50
63,301 37
$788,336 99
5363,581 95
1,733,363 31
$17,699,766 24
$2,179,525 90
725,000 00
$2,904,525 90
Other Investments:
Advances to Proprietary, Affiliated and
Controlled Companies for Construction,
Equipment and Betterments — --------Miscellaneous Investments—
Physical Property----------------------------Securities— Pledged (Table V )---------Securities—Unpledged (Table V )-------
$11,434,319 38
$3,617,276 85
,064,886
1i
i ’ «oT
2,o i l , 601
$15,938,155
WORKING ASSETS:
C ash_________________________________
Securities Issued or Assumed— Held In
Treasury— Funded Debt (Table V ). . .
Marketable Securities—Funded Debt
(Table V )___________________________
Loans and Bills Receivable------------------Traffic and Car Service Balances Due
from Other Companies...... ................. Net Balance Due from Agents and Con
ductors ______________________ _____
Miscellaneous Accounts Receivable------Materials and Supplies_________________
Other Working Assets_________________
45
2?
37
19
19.555,432 04
. . . . . . rQ
$9,113,468 59
19,844,000 00
6,961,389 47
2,811,388 68
388,240 70
1,018,474
4,195,896
4,856,077
151,916
53
74
01
67
40,340,853 29
130,773 92
$1,742,210 67
$505,350 00
Special Deposits.
Cash and Securities In Sinking and Re
demption Funds—
Company Bonds (Table V )----- ---------Cash, &c____________________________
„„
$794’292 22
200,759 73
$004,750 73
Other Deferred Debit Items . . ___ ______
$6,482,712 77
0,725,033 17
CONTINGENT ASSETS:
South & North Alabama R R . Co. 5%
Consolidated Gold Bonds outstanding,
endorsed by Loulsv. & Nashv. RR.Co. $7,202,000 00
Bills Payable endorsed by Louisville &
7,000 00
Nashville R R . Co— ............................
L. & N. Terminal Co. 50-year 4% Gold
Bonds outstanding, endorsed by Louis
ville & Nashville R R . Co. and Nashville
2,500,000 00
Chattanooga & St. Louis R y _________
Memphis Union Station Co. 5'% Collateral
Gold Notes guaranteed by the Louis
ville & Nashville R R . Co. and other
1,500,000 00
interested Railroad Companies----------
258,099 48
$6,496,311 07
Sinking Fund Charges—
Direct payments for which no bonds are
received_________________________
Accrued premiums on bonds drawn for
sinking funds-------------------------------Accrued interest on Company’s bonds
In sinking funds----------------------------
$1,450,793 48
____
$7,079,000 00
Securities Issued or Assumed— Pledged—
Funded Debt_______________________
Securities of Prorpietary, Affiliated and
Controlled Companies— Unpledged—
Stocks (Table V )____________________
Funded Debt (Table V )_____________
ACCRUED INCOME NOT DUE:
,
Unmaturcd Interest, Dividends and Rents Receivable —
DEFERRED DEBIT ITEMS:
Advances—
Temporary Advances to Proprietary,
Affiliated and Controlled Companies $1,706,487 42
35,723 25
Working Funds ______ ____ ____ ______
From which Deduct—
Charges against Income—
Interest on bonded debt -------------------- $6,088,919 oo
Rents paid for lease of roads—
Guaranteed dividend on
Nashville & Decatur R R .
s t o c k _________________5118,061 25
Rents of other roads. . . . . . 31,231 34
^ ^
Rents for tracks, yards and other faclllties (net)___________________________
[VOL. L X X X X I
$134,200 00
____
58,350 00
73,690 17
$260,240 17
0,762,551 24
11,299,000 00
$272,618,589 28
$10,937,215 00
South & North Alabama R R . Co. surplus for year in
eluded in above---------- -------------------------------------------
j2 3 ’ 0’’ 8 93
Net income transferred to the credit of Profit and Loss
Account________________________________________ $10.413,2o6 07
T A B LE NO. I I . — P R O F IT AN D LOSS ACCOUNT.
CREDITS.
Balance to credit of this account June 30 1909 $23,431,527
Sinking Fund Payments for which no bonds
134,200
arc to be received, charged to Income Acc t
Interest accrued on Company’s Bonds In Sink
73,690
ing Funds--------------,--------- ---------------------18,659
Sale of property at various points----------------Georgia Railroad lease:
Income from securities--------$66,203 00
Income from operation--------137,128 34
^ ^
08
00
17
65
LIABILITIES.
STOCK:
Capital Stock—
Common Stock—
... ... ... ..
Full shares outstanding-------------------- $o9,916,600 00
Fractional shares outstanding-----------‘ ‘■u uu
Original
stock and subsequent stock
rig
82,680 00
d lvldcnds unissued.
Cr.
$60,000,000 00
MORTGAGE, BONDED AND SECURED DEBT:
Funded / >ebt:—
,
, , .....
Mortgage and Collateral Trust Bonds (Table IV) .
Owned by Company----- ------------------- ? 2Z’U,Z’22x 00
Outstanding In Hands of Public........... 127,627,o00 00
Plain Bonds, Debentures and Notes.
.
$155,344,500 00
30,057 00
155,374,557 00
WORKING LIABILITIES:
Traffic and Car Service Balances Due to
$305,734 37
Other Companies.-------------------- - —
3,936,026 40
Miscellaneous credits---------- ----------------- 65,827 46
Audited Vouchers and Wages Uapaul —
___________________________________________________
118,50326
Net surplus from operation for year ended
Miscellaneous Accounts Payablc.
June30 1910 , transferred from Income Acc t 10,413,2o6 07
■nds and Rents
Matured Interest, Dividends
$34,340,491 77
Unpaid _________________
1,804,508 83
Matured Mortgage, Bonded and Secured
DEBITS.
Debt Unpaid (Table IV )____________
231,100 00
For Cash Dividend 3 *4%. payable Feb. 10 '10 $2,100,000 00
Other Working Liabilities_____________
72,316 44
0,468,279 30
For Cash Dividend 3 H % . payable Aug. 10 10 2,100,000 00
Adjustment of Reserve for Accrued DepreclaACCRUED LIABILITIES NOT DUE:
2,318,502 54
tlon, Equipment-------------------------Unmatured Interest, Dividends and
Amount due Georgia R R . on account of At
Rents Payable______________________
n?
lanta Joint Terminals------------------------------107.2ol 39
Taxes Accrued-----------------681>104 02
8,504,282 41
Miscellaneous debits----------J9,.J7b 84
DEFERRED CREDIT ITEMS:
Appropriated surplus—amount
Invested in Sinking and ReOperating Reserves------- --------------------(C iM ’niR
5,153,815 98
Other Deferred Credit I t e m s ..............-dcmptlon Funds----------------- $212,066 07
5,096,938 89
Balance to credit of Profit and
Loss Account June 30 1910 ..27,462,794 03 ^
^
APPROPRIATED SURPLUS:
Additions to Property since June 30 1907,
----------- ---------- $34,340,491 77
through Income____________________
$2,300,170 68
Reserves from Income or Surplus—
Invested In Sinking and Redemption
212,506 07
T A B L E NO. I l l — G E N E R A L B A L A N C E SH E E T .
Funds __________________ ________
2,512,737 65
PROFIT AND LOSS:
...
. ..
dr
a s se t s .
Balance ___________________ _______ _______ ................... 27,462,704 03
PROPERTY INVESTMENT:
CORTINGENT LIABILITIES:
Road and Equipment:
South & North Alabama R R . Co. 5%
^vestm ent to June 30 1 9 0 7 _______$139,471,007 11
Consolidated Gold Bonds outstanding,
endorsed by Louisville & Nashville
Equipment I " " : I . — — .........— - 36,072,004 83
Railroad Co___________________ - - - - $7,292,000 00
Bills Payable endorsed by Louisville «
_
$175,543,011 94
Nashville Railroad Co------- ----------- 7,000 00
L. & N. Terminal Co. 50-year 4% Gold
InRoad Cnt 8lnCC JU,1C 30 190?~
- $8,624,610 39
Bonds outstanding, endorsed by Louis
E q S ip m U n t ~ :::::::::::::::::--- 3 .330,141 as
.
ville & Nashville R R . Co. and Nash
2,500,000 00
ville Chattanooga & St. Louis R y -'$11,954,752 27
(etnphls Union Station Co. 5% Collat
(Table V I)_________ ______ _______________________ 5187,497,764 21
Gold
Notes
guaranteed
by
the
LouisReserve for Accrued Depreciation— Credit—
villc & Nashville R R . Co. and other inW ay and Structures, &c.......................
an
tcrested RR. Companies------- ----------l,5 0 ),r00 00
Equipment - ............................................ 14.605,25o 60
^
11,209,000 00
^
$171,127,177 48
$2T2,6L8,589 28
THE CHRONICLE
OCT. 8 1910. J
057
TABLE NO. IV .— B O N D E D DEBT L O U IS V IL L E & N A S H V IL L E R A IL R O A D CO. A N D S U B S ID IA R Y L IN E S AN D
E S T IM A T E D IN T E R E S T C H AR G ES FO R Y E A R 1910-1911
(Including also Guaranteed Dividend on Stock. Nashville & Decatur Railroad.)
MORTGAGES, ON RAILROADS.
Redeemed
or Drawn
Owned by Outstanding
Jor Pay L. & N. IIR. in Hands 0) Maturity.
ment.
Company.
Public.
A utliorized.
$
150.000
Yellow River RH., 1st M tg---------------------150.000
10,000
140.000
Jan.
2.400.000
Evans. Hcnd. & Nashv. Dlv., 1st M., Gold
2.400.000
1,100,000
1,300,000
Dec.
600.000
Pensacola Division, First Mtg., Gold------600.000
275,000
7", 666
318 .000 Meh
3.500.000
.Southeast & St. Louis Dlv., 1st M., Gold_3.500.000
3,500 ,000 Mel).
3.000.
000
Pens. & Atlantic R R ., 1st Mtg., Gold____
3.000.
000
' bssiobo
’ " "19)606
2,023 ,000 Aug.
5.000.
000
New Orleans & Mobile Dlv., 1st M., Gold.
5.000.
000
6,000
4,994 ,000 Jan.
1.000. 000 1.000.000
Yew Orleans & Mobile Dlv., 2d M., Gold__
1,000 ,000 Jan.
Gcncral Mortgage, Gold------------------------- 20,000,000 12.597.000
6,86b",666
’ " 24,666 5,713 ,000 June
500,000
The Gallatin & Scottsvllle Ry., 1st M.,Gold
309,000
309.000
July
2,000,000
2,000,000
Henderson Bridge Co., 1st Mtg., Gold.
1,000
766.000
1,233 ,000 Sept.
7.000.
000
3.258.000
Lou. Cln. & Lex. Ry., Gen’l Mtg.. Gold
3,258 .000 Nov.
3.500.000
1.764.000
First Mortgage, fifty-year, Gold-------15,666 1.749 000 May
2.500.000
2.096.000
Nash. Flor. & Shef’d Ry., 1st Mtg.. Gold-100.000
1,906, 000 Aug.
5.000.
000
Birmingham Min. R R ., 1st Mtg., Gold. 3.929.000
3.929.000
Nov.
3.150.000
Alabama Mineral RR ., 1st Mtg., Gold----3.150.000
3.150.000
July
000
62.848.000
Unified, fifty-year. Gold----- --------— ..... - 75.000.
17,000 4.958.000 57,873,
July
1.500.000
Newp. & Cln. Bridge Co., Gcn’l Mtg., Gold
1.400.000
1,400,
July
5.000.
000
L. & N. and M. & M. Ry., 1st Mtg., Gold4.000.
000
4,000,
Sept.
5.000.
000
L. & N., Pad. & Mem. Dlv., 1st M., Gold.
4.836.000
217,000 4,619,
Feb.
1.500.000
Atlanta Knox. & Nor. Ry., 1st M., Gold-..
1.000. 000
1,000
999,
Dec.
000
Atlanta Knox. & Cln. Division, Gold------- 50.000.
23.827.000
13,582,000 10,245,
May
Southeast & St. Louis Dlv., 2d M., Gold-_
3.000.
000
3,000,000
2,000
2,998,
Meh.
7.000.
000
Kentucky Central Ry., 1st Mtg., Gold----6.742.000
37,000
6,705,
July
Atl. Knox. & Nor. Ry.,|lst Cons. M., Gold
2.280.000
1.280.000
780,000
500,
Meh.
Ileal Estate Mortgage.
SL. Louis Property, 20-year 1st M., G old..
Collateral Trust lionets.
First Mortgage Trust, Gold--------------*L. <ft N.-Sou., Monon Collateral Joint,
Gold, L. & N. Proportion, one-half,.
209,580,000 153,086,000
650,000
617,000
7,000,000
5,129,000
7,750,000
14,750,000
Total Interest-Rearing Bonded Debt.
L. «fe X .R R .C o___________________ 224,980,000
Bonds Outstanding, Matured or Drawn Jor
Sinking Funds, Not Presented.
Alabama & Florida RR. (old Co.). First M.
Mobile & Montgomery Ry., Income Bonds
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. Ilend. & 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----- Total Bonds due and unpaid, L. & N. RR
Bonds o) Subsidiary Company Outstanding,
Matured, not Presented.
Nashville & Decatur RR., First Mtg_____
Mortgages on Railroads Operated, Controlled
Through Ownership oj Capital Stock.
Bay Mlnettc & Ft. Morgan RR. 1st M..Gold
Owensboro & Nashville R y., 1st M., Gold.
Morganllcld & Atlanta R R ___ ___________
1 1919
1 1919
1 1920
1 1921
1 1921
1 1930
1 1930
1 1930
1 1931
1 1931
1 1931
1 1937
1 1937
1 1937
1 1910
1 1940
1 1945
1 1945
1 1946
1 1946
1 1955
1 1980
1 1987!
1 2002
4
6
Jan.
June
6 Meh.
6 Meh.
6 Feb.
6 Jan.
6 Jan.
6 June
4 Jan.
6 Meh.
4 A May
May
Feb.
5 May
4 Jan.
4 Jan.
4 .. Jan.
4'A Meh.
4 Feb.
5 June
4
May
3 Meh.
4 Jan.
4
Aleh.
1, July
1, Dec.
1 . Sept.
1. Sept.
1, Aug.
1, July
1, July
1, Dec.
1, July
1, Sept.
1, Nov.
1, Nov.
1, Aug.
1 , Nov.
1, July
1, July
1, .July
1, Sept.
1 , Aug.
1, Dec.
1, Nov.
1, Sept.
1 , July
1, Sept.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
10,001,000 27,262,000 116,423,0001
5
74,150
18,080
210,000
119,330
299,580
60,000
340,280
" 71,380
146,610
87,450
99,800
1.314.920
63.000
180,000
184,760
49,950
409,800
89,940
268,200
20.000
5,107,230
1Meh. 1 1916
5
Meh. 1. Sept. 1
30,850
424,000
' Nov. 1 1931
5
May 1, Nov. 1
235,250
5,913,500
31,000
|July 1 1952
4
Jan. 1, July 1
042.500
455,000
345.500
10,001,000 27,717,000
235,300
470,550
1
5,608,630
1--------- 1867
1Jan. 1 1890
1Oct. 15 1893
1Jan. 1 1897
1Oct. 1 1907
1Sept. 1 1909
1Dec. 1 1909
|June
June
April
April
21,000 Meh.
1
1
1
1
1
____________
1909
1910
1909
1910
1910
_________ I _ I ‘
____________ i
231.100
—
July 1 1900
500.000
2,000,000
500.000
225.000
1,200,000
500.000
225.000
1,200,000
500.000
3,000,000
Mortgages on Railroad not Owned but Oper
ated by L. & N . Railroad,
a South & North Alabama R R ., Cons..Gold 10,000,000
South & North Alabama R R ., Imp., Gold
2,000,000
1,925,000
1,925,000
10,000,000
1,920,000
12,000,000
Mortgage on Property not Owned but Oper
ated by L. <ft N. Railroad,
b Louisville & Nash. Terminal Co., lstM.,G.
Stock on which Dividend is Guaranteed.
Nashville & Decatur Railroad___________
Estimated
Inter
Interest
est. Coupons Due. Charges Jor
%
Yr. 1910-11.
July 1 1930
Nov. 1 1931
June 1 1932
4
6
4
Jan. 1, July 1
May 1, Nov. 1
June 1, Dec. l
2.708.000
1.920.000
7,292,000 Aug. 1 1936
Aug. 1 1936
5
5
Feb. 1, Aug. 1
Feb. 1, Aug. 1
11,920,000
4,628,000
7,292,000
3,000,000
2,535,000
35,000
3,553,750
3,553,750
1,979,600
364,600
364,600
Dec. 1 1952
\1Guarani’ d\
\by L .& X .j
4
June 1, Dec. 1
7 H Jan. 1, July 1
Total estimated Interest charges 1910-11
100,000
118,061
6,191,291
* Of the L. & N. proportion of the outstanding bonds of this Issue, there are $1,489,000 which were registered as to both principal and Interest
and the Interest thereon Is payable quarterly, on January 1, April 1, July 1 and October 1.
a Principal and Interest guaranteed by Louisville & Nashville Railroad Company.
b This property Is operated jointly by this Company and the Nashville Chattanooga & St. Louis Railway, the principal and Interest being jointly
uarantecd by the two railroad companies.
TABLE NO. V.— S ee
n ex t page.
TABLE NO. V I.— PROPERTY INVESTMENT, ROAD AND EQUIPMENT.
Road and Equipment June 30 1909 wasRoad__________________ _______ ____
Equipment-_________ ______________
To which add the following:
Road—
Additions to Property since June 30 1907 through Income__
onn , 70 68
......
i i a ’i470
Atlanta Knoxville & Northern Railway— Construction Account.
New Line, Mortons to Atkinson, Ky . _____________________ _
} « ’?577
, , „26
„
48
Straight Creek Branoh ______ . . . . ___________________________
___
n y k h 12
Louisville & Atlantic Railroad.......................... ........... ................
.......,
jv - (is
St. Louis Property and Improvements________________________ .
"
’24o’ 634 70
Additions and Betterments (see a previous p age)_______ __________
$1 890 462 33
’
Less—Amounts included In above account of South & North Alabama and Elkton & ’
’
Guthrie Railroads---------------------- ---------------------------------------------------------------------588,226 40
!141,730,282 42
27,573,919 06
-$169,304,201 48
Sundry Other Charges----------------------------------- ------------------------------- ------------------------------------------------ 1’425)488 42
Less—
Sundry CredRs.
$6,380,755 39
.
15,420
Equipment —
trt Adjustment of Equipment Values, etc---------------------- ------ ---- -- ---------------. . .
$10,337 372
it Equipment completed prior to July 1 1009 not heretofore charged to Road and Equipment__________
260,404
* U’ Bought, built or otherwise acquired during year (see a previous p a g e ).........
1 230 450
31
6,365,335 08
35
92
38
'TT^r
11,828,227 65
$18,193,562 73
Total, as per Table No. I l l —
$187,497,764 21
THE CHRONICLE
958
lV O L . L X X X X I
G allatin & S c o ttsv . R y ., 1st M ., G ., 4%
H enderson Bridge C o., 1st M tg., 6 % - .
100,000
U nllled 50 -Y ear 4 % Gold M o rtgage----L . & N ., P . & M. D lv . 50-yr. 4 % , G ., 1st
A tl. K n o x . & N o r .R y ., 1st M ., 5% G - .
4,943,000
217,000
T o ta l S i n k i n g a n d
R e d e m p t 'n F u n d s .
C e n tr a l T r u s t C o . ,
T r u s t e e l le n d e r s o n
F ir s t
1 B r id g e C o .
| M o r tg a g e.
S m ith e r s & B u t le r ,
S u r v iv i n g T r u s te e s
S o u th e a s t. & S t . L .
R y . M tg es.
A
C e n tr a l T r u s t C o .,
T r u s t e e L . & N .M . A M . 4 M%
B onds.
&
T.
Loan
4,000
32.000
424,000
31.000
15,000
15,000
2,000
1,000
2,000
1,200,000 1,200,666
1,200,000 1,200,000
M a r k e ta b l e B o n d s .
5,000
0,000
6,000
6,000
3,150,000 3,929,000 7,079,000
225.000
500.000
1st M ., 4 % G .
1st M tg., 4 % .
1st M tg., 6 /6 .
5 % C o n .M .,G .
4,000
South & North A la . R R .,5 % Con.M .,G_
South & N orth A la . R R ., Im p ., 5% G .
Southern Iron & Steel Co. Issues--------Sloss Iron & Steel C o., 1st M tg., G % __
W holesale M erchants’ W arch. C o., 5 % .
Su n d ry oth er Bonds and S crip ------------
Ledger Value, Marketable Bonds (see
______
-
225,000
500,000
500,000
500,000
500,000
2,425,000
22,300
35,000
1,600,000
34,000
2,208,000
1,920,000
90,078
43,000
398,000
15,930
65,000
62,000
2,208,000
1,920,000
96,678
43,000
398,000
15,930
7,015,159
7,0 15,15 9
10,000
100,000
20,000
20.000
05.000
02.000
6,961,389
6,901,389
325,000 00
100,000 00.
25,000 00
5,000 00
Missouri & Illinois Bridge & Belt Railroad.
1,979,600 00
193,124 99
South & North Alabama Railroad, Preferred
South & North Alabama Railroad, Common
Sundry stocks, roads operated as part of the
---------------
205,800 00
120,000 00
50,000 00
355 00
0,000
4,000
18,000 760,000 794,000 3 7 ,15 7,15 9
Pledged.
Owned
as
Investment.
?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
*Cenlral Trust
Co. Collateral
Jor Unijied 50Year 4%
Bonds.
Standard Trust Farmers’ Loan
Total Pledged
Co. L. & N.- * Trust Co.
Owned as
Sou., Monon Collateral under
N. O. M . & T. Investment.
Collateral
Joint Bonds.
Mtgs.
$1,930,700 00
4,898,450 00
$1,936,700 66
4,898,450 00
776,081 03
1,031,385 50
3,300 00
15.000 00
13.000 00
50.000 00
_____________
1,076,100 00 55,501,500 00
54,800 00
46,100 00
7,533 33
61,700 00
___________
2,000,000 00
1,127,400 00
1,127,400 00
Henderson Bridge Co_____________________
Grand
Total.
332.500
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
770,081
1,631,385
3,300
25.000
5,000
15.000
13.000
50.000
1,979,000
7,177,600
193,124
54,800
40,100
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
116,200 66
$15,464,050 00 $23,022,104 85
11,361,577 37 16,052,794 64
52,703,879 99 54,854,174 86 $8,628,900 00 $6,835,150 00
2,179,525 90 2,511,691 37 5,355,543 75 6.006,033 62
Stocks with Trustees—
Roads Operated as Part oj the L. & N. System.
6,000
22,300
35.000
1,000,000
34.000
Chic! Ind." & Loulsv. Ry.. Com. (ono-half).
Terminal Railroad Association of St. Louis.
31,000
85,250
300,000
Proprietary
and Controlled
Companies.
Lexington Union Station Co., Preferred—
Lexington Union Station Co., Common-----
37,000
424,000
85,250
300.000
In Treasury.
Central Transfer Railway & Storage Co —
1,000
2,000
13,582,000
1,200,000
Grand T o ta l B o n d s---------------------------- 19,844,000 7,740,159 3,150,000 5,129,000 8,279,000 500,000
* F o r Stocks held by Central T ru st C o., T rustee under Unified M ortgage, see tab le below.
STOCKS.
3,150,000
4,958,000
217,000
18,000 760,000 794,000 27,717,000
10,000
100.000
'
3
140,000
7,000
19,000
24,000
309,000
706,000
15,000
3,929,000
100,000
3,150,000
725.000
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
00
00
00
00
00
00
00
00
00
00
00
00
00
501,000 00
$17,844,706 00
250,788 48
Grand Total Stocks--------- ------------------- 52,703,879 99 34,854,174 86 $20,473,606 00 $6,835,150 00
• For Bonds held by Central T ru st C o., T rustee under U nllled M ortgage, see table above.
5
1,000
I s s u e s o ) O th er C o m p a n ie s .
S u b s id ia r y C o m p a n ie s .
Sundry other stocks. ----------
3
706,000 766,000
19,844,000
Balance S h eet)________
$
G ra n d
T o ta l.
3,929,000 3,929,000
N ew Orleans Mobile & T ex as R y ., 6 % . .
C arrollton & W o rth vllle R R . C o ., 5%
Charleston T erm . C o., 50-yr., 4% GoldC entral Tran sfer R y . & Storage C o., 5%
Jackson Humber C o., 6% G o ld ---------Jenifer Iron & Coal C o ., 2d M tg., 5 % . .
L . & N . Term inal C o., 50-year, G old ,4%
L o uisville Pro p erty Co.. Gold, 4 % ------Monroe R ailroad , 1st M ortgage, 4 % ._ .
M uhlenberg C o., K y ., 5% R e fu n d in g -.
N ash. C h atta . & S t. Louis R y. I s s u e s ..
$
3
13,582,000
S. E . & S t’. L . D lv ., 2d M tg ., Gold, 3%
K e n tu ck y C ent. R y ., 1st M tg., G ., 4 % .
F iv e per cent F irst M tg. T ru st Gold —
L . & N .-S ou ., Monon, C o ll., 4 % Jo in t—
B a y Min. & F t. M. R R .,
M organlicld & A tl. R R .,
Owensboro & N ash. R y .,
South & North A la . I t l t .,
F arm ers’
S
\ N . O. M .
\ M or tg a g es .
3
$
S i n k i n g a n d R e d e m p t io n F u n d s .
I T ru st C o ..T r u s te e
S p e c ia l D e p o s it F a r m e r s ' ]
L o a n & T r u s t C o . Col-\
la ter a l J or G e o r g ia R a il
road L e a s e .
3
15,000
Birm ingham Mineral H R ., 1st M tg ., 5%
N ash. Flo. & Sh ef. R y ., 1st M ., G .. 5%
T o ta l P le d g e d .
S
140.000
7,000
19.000
24.000
309.000
* C e n tr a l T r u s t C o .
C o lla te r a l J o r U n ilie d F i j t y - Y e a r
4 % G old B o n d s .
O th er I s s u e s .
L . & N . Issu es.
L o u is v i lle A N a s h v ille I s s u e s —
Y ellow R iv er H R ., 1st M tg., 4 % ------Pensacola Dlv\, 1st M tg., Gold, 6 % —
Pensacola & A tl. R R . ,l s t M tg ..G o ld ,6%
$
F lc d y e d .
In T rea su ry.
BONDS.
F a rm ers' L oa n &
T r u s t C o . C o lla t
e r a l J o r 5% F i r s t
M o r tg a g e
T ru st
G old B o n d s .
T A B L E NO. V .— SECURITIES OWNED.
<711,800 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
963,400
19,750
980.000
285.000
1.500.000
985.000
1.969.000
100.000
2,939,700
589,256
2.412.000
3.085.000
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
250,793 48
250,793 48
5 00
$711,800 00 $34,020,556 00 $41,578,610 85
O ct . 8 1910.
THE CHRONICLE
959
TABLE NO. V II.— GROSS OPERATING REVENUES , OPERATING EXPENSES, AND NET, BY MONTHS.
[4,590.55 Miles.
Freight.
Months.
“
Feb.
“
April
“
____
Sept. " ___
Oct.
“ ___
Nov. “
...
Dee. " ___
Jan. 1910___
____
March “
___
May
June
___
___
“
“
____
Months.
July 1909___________________________________
••
Dec. “ ___________________ ________ _______
Jan. 1910___________________________________
Feb.
“ ___________________________________
April
Juno
“
“
18
27
85
31
87
97
47
46
23
57
96
33
$910,103
992,237
941,512
901,040
857,273
948,426
851,676
805,510
$76,772
882,294
933,966
896,183
538,421,779 47
T ota ls_____
sept.
Passenger.
$2,758,870
2,838,81(5
3,080.891
3,521,076
3,393,270
3,229,056
3,297,169
3,058,513
3,631,724
3,202,507
3.323,932
3,085,949
July 1909___
A ug.
Average operated during year, 4.554.30 Miles.]
I I I . . ______________ _ ____________
I - - - 1--------------- -----------------------------
$71,726
71,717
71.742
72,111
71,867
71,897
72,285
72,174
72,479
72,645
72,681
72,637
$10,796,997 58
Other Revenues
Jronx Transpor
tation.
Revenues from
Operations Other
than Transpor
tation.
$20,669
28,768
32,183
35,899
38,763
26,249
28,518
27,308
33,028
28,663
28,284
25,277
$18,882
25,595
27,406
27,502
30.112
34,4 58
24,775
25,936
31,726
49,384
33,477
27,382
87
24
88
72
50
34
19
60
32
33
28
20
$353,614 47
Mail.
76
45
15
87
50
71
08
83
53
48
07
15
$356,641 01
44
12
19
51
18
42
04
21
33
87
44
95
$93,030
89,609
96,386
125,684
128,179
158,502
128,113
110,347
125,435
134,4 99
112,528
106,888
$865,965 70
Total Operating
Revenues.
15
51
36
73
85
64
71
16
11
76
40
63
$3,888,793
4,061,441
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
43
99
75
19
51
37
44
29
77
07
85
28
Other Passenger
Train Revenue.
Express.
17
50
00
94
64
83
32
76
70
06
06
01
$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
Operating
Expenses.
$2,416,479
2,4631728
2,530,516
2,649,631
2,702,231
2,732,483
3,050,379
2,962,499
3,225,345
3,249,956
3.42.L717
3,577,607
70
60
88
90
44
40
38
77
88
31
85
67
$52,433,381 94
Net Operating
Revenues.
Percent cf
Expenses
to
Revenues
$1,472,313 73
1,597,713 39
6CL66
2,057,058
1,838,465
1,751,360
1,370,982
1,153 339
1,565,183
29
07
87
06
52
89
67^33
1,1031604 00
656,200 61
75^63
84.50
$17,447,803 16
66.72
56.30
59.51
60.94
68.99
TABLE NO. V III.— GROSS OPERATING REVENUES, OPERATING EXPENSES, AND NET.
1
Per Cent of
Gross
Revenues.
Sources.
Passenger revenue...................................................................
Excess baggage revenue.......... .......................................
Parlor and chair car revenue___________________ _______________
Mall revenue................................................................ ............... ................
Express revenue.............................. ....................................... .............
Milk rev en u e..___ ________ ____ _______ _____________ ______ ___
Other passenger train revenue_______________________ _______ ____
Total passenger train revenue
. ..
20,592
.336
.021
1.651
2.688
.076
.005
$10,796,997
176,016
10,778
865,965
1,409,204
39,734
2,649
58
29
75
70
99
28
40
73.277
.622
.047
.005
$13,301,346
38,421,779
326,253
24,543
2,817
99
47
45
67
35
.038
.079
.011
.267
.012
.099
.034
.140
$52,076,740
19,999
41,562
5,536
140,020
6,320
52,057
17,602
f 3,447
176,988
93
35
63
99
23
68
53
57
42
45
____ _____________________________________
Switching revenue. . _ ----------- ------------------------------------------------------------------------Special service train revenue----------------------------------- ------------- ------ ----------- . . .
Miscellaneous transportation revenue........ . _ . . . . . . . ___ _________ __________ _
Total revenue from transportation._______ ____ __________ . _ .
Station and train privileges_________________________________ _____ __
Storage, freight............ ............. ......................
Storage, baggage.. . . . . . . .............................. ....... ......... .............. ................ ....... ....
Car service __________ . . __
Telegraph__________________________
R en ts_____________________
Miscellaneous____________ _______ _____
Joint facilities— Dr................................................ .
Joint facilities— Cr___________________ ________
Total revenue from operations other than transportation____________ ______
Total operating revenues________________
Gross Operating
Revenues.
______
$356,641 01
100.000
$52,433,381 94
Operating
Expenses.
Net Operating
Revenues.
:::::::::::::
$8,860,814 98
26,124,763 80
....................
$34,085,578 78
$4,440,532
12,297,015
326,253
24,543
2,817
01
67
45
67
35
19,999
41,544
5,555
140,020
6,320
52,057
17,602
3,447
76,988
35
38
24
23
68
53
57
42
45
$17,447,803 16
TABLE NO. IX — OPERATING EXPENSES.
EXPENDED FOR—
Maintenance of Way and Structures—
Amounts
S u p e r i n t e n d e n c e -------------------------------------$ 3 3 9 ,2 9 8 80
B a l l a s t - ............. ................................... .................... .............. - -------------------------------1 0 8 ,3 9 0 80
B a l l a s t — E x t r a o r d i n a r y -------------------------------------------------------------------4 ,7 5 3 74
T i c s --------------9 0 1 ,8 0 1 66
T i e s — E x t r a o r d i n a r y ______ _____________
7 ,2 3 4 0 1
R a l l s -------------------------------------------------------------1 6 7 ,9 2 2 1 7
R a l l s — E x t r a o r d i n a r y _______________
1 6 ,4 1 6 2 5
O t h e r T r a c k M a t e r i a l -------------------------------------------------------------------1 9 8 ,5 5 6 4 7
O t h e r T r a c k M a t e r i a l — E x t r a o r d i n a r y __________________
2 ,6 0 7 4 3
R o a d w a y a n d T r a c k ----------------------------- --------------------------_ _
2 ,3 4 3 ,0 3 7 3 3
R o a d w a y a n d T r a c k — E x t r a o r d i n a r y ____ ________________
1 4 5 ,7 0 4 53
R o a d w a y a n d T r a c k — A s s e s s m e n ts fo r P u b lic Im p r o v e m e n ts
5 7 ,8 6 7 26
C l e a n i n g R i g h t o f W a y -------------------------------------------------------------------1 1 8 ,8 2 8 34
R e m o v a l o f S n o w , S a n d a n d I c e --------------1 0 ,0 2 9 80
T u n n e l s -----------------------------------------------------------------------------------------------3 2 ,2 6 6 72
T u n n e l s — E x t r a o r d i n a r y _____________
40 8 82
B r i d g e s , T r e s t l e s a n d C u l v e r t s -----------------------------9 2 0 ,0 2 3 50
B r i d g e s , T r e s t l e s a n d C u l v e r t s — E x t r a o r d i n a r y ................ ...............
1 3 2 ,4 2 6 48
O v e r a n d U n d e r G r a d e C r o s s i n g s ------------------8 ,4 5 7 39
O v e r a n d U n d e r G r a d e C r o s s i n g s — E x t r a o r d i n a r y ............. ............
46 32
G r a d e C r o s s i n g s , C a t t l e G u a r d s a n d S i g n s ___________________
4 6 ,6 5 6 80
G r a d e C r o s s in g s , C a t t le G u a r d s , a n d S ig n s — E x t r a o r d in a r y .
3 30
R i g h t o f W a y F e n c e s __________________________________________
4 ? 34 2 69
R i g h t o f W a y F e n c e s — E x t r a o r d i n a r y --------------------------------------’ 1 8 83
S n o w a n d S a n d 1* c n e e s a n d S n o w s h c d s ____________________
S i g n a l s a n d I n t e r l o c k i n g P l a n t s _____________________________
48 236 ’ 6 1
S i g n a l s a n d I n t e r l o c k i n g P l a n t s — E x t r a o r d i n a r y --------- ----------l.’o s o 91
T e l e g r a p h a n d T e l e p h o n e I J n e s ___________ ______ ____________
1 1 4 9 7 16
T e l e g r a p h a n d T e l e p h o n e L i n e s — E x t r a o r d i n a r y -------------------’ 60 70
E le c tr ic P o w e r T r a n s m is s io n .
W a t e r S t a t i o n s ______________
''R a s a V i v
F u e l S t a t i o n s ___________________ . 1
............................
S S ’J u g 1 1
S h o p s , E n g i n e H o u s e s , & c ___________ ______________________
1 1 2 ’ 583 2 7
S t a t i o n , O f f i c e a n d O t h e r B u i l d i n g s ________________________ I
3 5 6 6 4 9 08
B u i l d i n g s , F i x t u r e s a n d G r o u n d s — E x t r a o r d i n a r y -----------------1 7 J >23 0 7
B u ild in g s , F ix tu r e s a n d G ro u n d s — A s s e s s m e n ts fo r P u b lic
I m p r o v e m e n t s ---------------------------------------------------45 404 7 7
D o c k s a n d W h a r v e s ........................... ...............
.............
2 1 4 ’ l9 5 07
D o c k s a n d W h a r v e s — E x tr a o r d in a r y
.
.
3 ’3 5 1 0 7
R o a d w a y T o o l s a n d S u p p l i e s _____
_
7 8 ’899 3 7
I n j u r i e s t o P e r s o n s ___________________
.
7 s ’ o 6 9 02
S t a t i o n e r y a n d P r i n t i n g ___________
_
1 7 ’3 1 7 1 5
O t h e r E x p e n s e s ---------------------------------------------- 1 ____________________
3 ’ 2 6 6 50
W a y a n d S tr u c tu r e s — D e p r e c ia tio n ..
1 3 8 8 7 0 0 00
M a in ta in in g J o in t T r a c k s , Y a r d s a n d O t h e r F a c ilitie s — D r . .
’ 2 3 0 ,’ 2 2 1 2 7
M a in t a in in g J o in t T r a c k s , Y a r d s a n d O t h e r F a c il it i e s — C r . . C r . 1 4 5 ,3 6 3 06
...................... - ................................................- ............................................... -
$ 8 ,1 7 2 ,1 6 6 2 5
Maintenance of Equipment—
Superintendence _____________________________
Steam Locomotives— R ep a irs.............. ...............
Steam Locomotives— Renewals ..........................
Steam Locomotives— Depreciation ................ ......
Electric Locomotives— R epairs____________ ___
Electric Locomotives—Renewals________ _____
Electric Locomotives— D epreciation__
Passenger Train Cars— R epairs________
Passenger Train Cars—Renewals
.
Passenger Train Cars— D epreciation........
.
Freight Train Cars— Repairs
Freight Train Cars— Renewals ________________
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 Equipment— Repairs , __________________
Work Equipment— Renewals _______________ .
Work 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.
Amounts.
$266,785 03
2,745,934 14
•aCr.18,849 63
415,663 67
500,628
*8,798
67,754
2,830,159
*49,303
1,304,473
32
17
30
91
44
20
43,808
*6,058
34,403
188,935
17
17
00
81
27,740
28,703
4,035
55,576
Cr. 807
38
42
90
65
72
Total........................................................................
$8,559,104 33
Traffic Expenses—
Superintendcncc— Passenger ................ ............... .
Superintendence— F reig h t.............. ..................... .
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........ ................................................
$73,723 02
202,768 68
149,665 74
222,708 64
143,263 55
2 10
3,340 86
22,052 96
39,058 94
34,817 10
25,225 01
193,462 75
10,426 40
Total.................. ...................... ........... ........... ..
$1,120,515 75
960
THE CHRONICLE
[VOL. L X X X X I .
Amounts. TABLE N O .X.— PASSE N G E R & F R E IG H T STA TISTICS• Transportation Expenses —
$255,891 40 TOTALS AND AVERAGES FOR THE YEAR COMPARED W IT H
Superintendence -----------------------------------------------------------375,559 35
Dispatching Trains---------------------------------------------------------THE PREVIOUS YEAR.
424,024 02
Station Employees— Passenger---------------------------------------1,820,374 77
P. C. of
Station Employees— F reigh t------------------------------------------74,439 75
Weighing and Car Service Associations.........._................... .
1909-1910.
1908-1909.
ln c.(+ )o r
Passenger Traffic.
Dec. (— ).
Coal and Ore Docks------- ------------------------------------------------142,120 03
Station Supplies and Expenses-----------------------------------------4,393.11
268,592 96 Mileage of road operated----- a.
4,554.30
+ 3.6692
Yardmasters and their Clerks__ _____ ____________________
8,757,737
+ 5.9801
9,281,462
Yard Conductors and B rakcm en ...______________________
735,107 19 No. of miles run by rev.trains b.
47,018,070
+ 6,3216
Yard Switch and Signal Tenders_________________________
42,264 42 No. of miles run by cars_______ 49,990,382
4.91
4.90
+ .2041
27,863 82 No. of cars In each train........ .
Yard Supplies and Expenses___________ ______ ___________
10,112,246
+ 9.0759
414.060 79 No. of passengers carried--------- 11,030,027
Yard Englnemen_________________________________________
93,625 52 No. of miles each passenger was
Enginehouse Expenses— Yard___________________ ______
295.060 67
42.89
+ .8394
43.25
Fuel for Yard Locomotives_____________________ ______ _
carried____________________
24,528 90 No. of pass, carried one mile. _ 477,050,940
+ 9.9906
133,684,066
Water for Yard Locomotives____________________________
8,683 74 No. of passengers carried one
Lubricants for Yard Locomotives________________________
10,075 94
98,719
+ 6.1062
104,747
Other Supplies for Yard Locomotives_____________________
mile per mile of road_______
801,119 73 No.of pass.carried In each train
+ 3.5619
46.81
45.20
Operating Joint Yards and Terminals— Dr...........................
+ .2869
13.98
13.94
Operating Joint Yards and Terminals— Cr_______________ Cr. 96,636 19 No. of pass, carried In each car.
+ 7.8950
Earnings from passenger tr’ns.c $13,308,948 90 $12,335,095.16
Motormen ______ ________________________________________
537,590 15 Operating expenses, passenger. $8,860,814.98
$7,446,156.23 + 18.9985
Road Englnemen— Passenger____________________________
1,552,301 03 Net earnings from pass, trains. $4,448,133.92
$4,888,938.93
— 9.0164
Road Englnemen— Freight ______________________________
76,908 14 Earnings per mile of road__ __
$2,807.83
+ 4.0761
$2,922.28
Road Englnemen— Mixed _______________________________
503,713 96 Expenses per mile of road____
$1,694.96 + 14.7868
$1,945.59
Enginehouse Expenses— Road___________________________
594,102 81 Net earnings per mile of ro a d ..
$1,112.87 — 12.2368
$976.69
Fuel for Road Locomotives— Passenger---------------------------1,958,370 04 Earnings per revenue train mile cents 130.595 cents 128.552 + 1.5892
Fuel for Road Locomotives— Freight------------------------------80,889 60 Expenses per revenue train mile cents
77.601 + 12.0578
86.948 cents
Fuel for Road Locomotives— Mixed-------------------------------172,252 29 Net earnings per rev. train mile cents
50.951 — 14.3353
43.647 cents
Water for Road Locomotives------------------------------------------20,057 36 Earnings per car mile_________
cents
26.235 + 1.4789
Lubricants for Road Locomotives— Passenger-----------------52,702 28 Expenses per car mile________
cents
15.837 + 11.9214
Lubricants for Road Locomotives— F reight--------------------1,788 56 Net earnings per car m ile.. ----- cents
10.398 — 14.4259
8.898 cents
Lubricants for Road Locomotives— M ix e d ----------------------— 1.6280
21,713 38 Earnings per passenger-----d .. cents
99.51
97.89 cents
Other Supplies for Road Locomotives— Passenger------------61,484 62 Earnlngs per pass, per mile----- cents
2.320 — 2.4569
Other Supplies for Road Locomotives— Freight — .........2.263 cents
1,614 53 P. c. of exp. to pass, earnings..
60.37 + 10.2860
66.58
Other Supplies for Road Locomotives— Mixed ------- -------Freight Traffic.
Operating Power P lants________________________________
+ 13.9110
15,351,129
Purchased P ow er_______________________________________
No. of tulles run by rev. trains e 17,486,617
448,825 19 No. of miles run by mixed
Road Tranlnmen— Passenger ___________________________
+ 8.5721
1,811,830 15
837,708
909,517
Road Trainmen— Freight_______________________________
revenue trains____________ e
+ 15.4378
83,056 69 No. of miles run by cars, loaded 253,660,280
219,737,560
Road Trainmen— M ixed________________________________
+ 10.6687
325,627 86 No. of miles run by cars, empty 110,807,918
100,207,160
Train Supplies and Expenses— Passenger-----------------------234,753 53 No. of miles run by cars, loaded
Train Supplies and Expenses— F reig h t--------------------------2,255 58
+ 13.9441
Train Supplies and Expenses— Mixed-----------------------------319,944,720
and empty_________________
+ 1.6212
25,191 07 No. of cars loaded In each train
13.57
Interlockers and Block and Other Signals— Operation----13.70
69,250 40 No. of cars empty In each train
— 2.5848
6.19
6.03
Crossing Flagmen and Gatem en------------------------------------27,155 47 No. of cars loaded and empty
Drawbridge Operation__________________________________
73,249 29
+ .3036
19.76
19.82
Clearing Wrecks------------------------ -----------------------------------In each train______________
64,595 55 Percentage of loaded car mile
Telegraph and Telephone— Operation-----------------------------+ 1.3104
68.68
Operating Floating Equipment--------------------------------------69.58
age to total car mileage____
Express Service-------------------------------------------------------------Percentage of empty car mile
195,181 38
— 2.8730
31.32
Stationery and Printing----------------------------- --------------------30.42
age to total car mileage____
17,909 41 No. of tons carried. ...... .......... 30,155,217
+ 23.5669
24,403,052
Other Expenses_________________________________________
398,713 16 No. of tons carried one mile__ 5,119,038,899
+ 20.2787
Loss and Damage— Freight-------------------------------------------4,255,981,335
5,237 49 No. of tons carried 1 mile per
Loss and Damage— Baggage-----------------------------------------80,874 19
+ 16.0278
968,785
Damage to P roperty-----------------------------------------------------1,124,001
mile of road_____________
93,898 98 No. of miles each ton was car’d
174.40 — 2,6606.
Damage to Stock on Right of Way— Passenger...................
169.76
121,319 70 No. of tons In each train--------+ 5.8463
262.90
Damage to Stock on Right of Way— Freight......................
278.27
171,588 01 No. of tons In each loaded c a r ..
19.36
+ 4.2355
Injuries to Persons (not Employees)— Passenger-------------20.18
131,952 14 No. of tons In each loaded and
Injuries to Persons (not Employees)— Freight.....................
77,735 13
+ 5.5639
13.30
Injuries to Employees— Passenger .........................................
14.04
empty car_________________
179,341 30 Earnings from freight rev.trains $38,438,731 .23 $32,465,069.16 + 18.3975
Injuries to Employees— Freight — ------- ---------------- -------77,805 68 Operating expenses, freight.
Operating Joint Tracks and Facilities— D r .. .................—
$26,124,763.80 $22,181,343.25 + 17.7781
Operating Joint Tracks and Facilities— Cr........................... Cr. 39,355 31 Net earnings from freight reve
nue trains___________ _____ $12,313,967.43 $10,284,625.91 + 19.7318
$16,030,238 20 Earnings per mile of road____
$7,390.20 + 14,2067
Total
$8,440.10
$5,049.12 + 13.6097
$5,736.29
Expenses per mile of road. . .
+ 15.4941
$2,341.08
$2,703.81
General Expenses—
Net earnings per mile of road. _
cents 200.545 + 4.1911
per revenue train mile
$121,444 05 Earnings
Salaries and Expenses of General Officers...............
cents 137.016 + 3.6463
cents
142.012
Expenses
per
revenue
train
mile
Salaries and Expenses of Clerks and Attendants----------------458,562 87 Net earnings per rev.train mile. cents
63.529 + 5.3661
66.938 cents
General Office Supplies and Expenses-------------------------------24,933 34 Earnings per car mile-------------- cents
10.147
10.544 cents
Law Expenses___________________________________________
360,157 36 Expenses
6.933 4-3.300/
cents
7.166 cents
per
car
mile-----------Insurance _______________________________________________
1,728 93 Net earnings per car m ile-------- cents
3.214 + 5.1027
3.378 cents
Relief Department Expenses---------------------------------------------------- -----cents 127.469 cents 133.035 — 4.1839
Earnings
per
ton—
----—
— 4.084/
Pensions ________________________________________________
10,561 18 Expenses per ton--------cents
90.892
cents
86.634
—
Stationery and Printing________________________________ 50,267 38
42.143 — 3.1037
40.835 cents
earnings per ton. . ------- cents
Other Expenses__________________________________________
69,523 39 Net
.763 — 1.5727
.751 cents
Earnings per ton per mile------- cents
General Administration Joint Tracks, Yards and Ter
.621 — 2.1113
cents
.510 cents
Expenses per ton per mile__
minals— Dr ___________________________________________
9,274 22 Net earnings per ton per m ile..
cents
.242 — .4132
General Administration Joint Tracks. Yards and Termi
— .5260
68.32
67.96
I\ c. of exp. to freight earnings
nals— Cr ______________________________________________ Cr. 2,898 47
Total All Traffic.
Gross
earnings
per
mile
of
road
Totul ______ m____ _________ . . . . . ___ ___. . . ____________ $1,103,554 25
$10,340.26 + 11.3409
— Pass., frt. and mlsc__ _
$1l .512.94
0,744.08 + 13.9055
7,681.88
exp. per mile of road
Total Operating Expenses-------------------------------------------- $34,985,578 78 Operating
3,596.18
+ 6.5314
3,831.06
Net earnings per mile of road _
a Credit balance In Account 47— Steam Locomotives— Renewals is due
to excess of value of scrap credited to this account over depreciated values,
as per Inventory, of locomotives destroyed during the year.
* Difference between amount shown as charged to Operat. Expenses on
account of Renewals (see a previous page, anil Table I X ) , due to credits to
Renewal Accounts for salvage from locomotives and cars destroyed, and on
account of charges to other companies for cars destroyed on their lines.
a Mileage of road operated shows average length oporateil during each
fiscal year.
, ,
,. , ^
,
b Miles run by mixed revenue trains should be added to 1 assenger lrain
Mileage In arriving at results per train mile of Passenger '1raffle.
c Includes mall, express, excess baggage and train privileges.
it 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.
T H E TEXAS COMPANY.
O FFIC IA L ST A T E M E N T TO T H E N E W Y O R K STOCK E X C H A N G E IN CONNECTION
OF $27,000,000 C A P IT A L STOCK.
.
N ew Y o r k , S ep tem ber 23 1910.
The Texas Company respectfully applies to have placed
on the Regular List of the New York Stock Exchange
$27,000,000 Capital Stock, consisting of 270,000 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 of
$3,000,000. The purposes of incorporation are set out in
its charter, as follows:
‘‘Said Corporation Is organized for the purpose of storing and transport
ing oil and gas, brine and other mineral solutions, and to make reasonable
charges therefor: to buy, sell and furnish oil and gas for light, heat and other
purposes, to lay down, construct, maintain and operate pipe lines, tubes,
tanks, pump stations, connections, llxtures, storage houses and such ma
chinery, apparatus, devices and arrangements as may be necessary to oper
ate such pipes and pipe lines between dlirerent points In this State: to own,
hold, use and occupy such lands, rights-of-way, easements, franchises,
buildings and structures as may be necessary to the purposes of such Cor
poration."
t
_
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,
and the entire property and business of the Company
developed into a well-balanced, active, growing industrial
enterprise.
W IT H
T H E LISTING
Practically the only exception to this statement is that
there 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 I ort
Neches refinery.
C A P IT A L STO C K .
The $27,000,000 of Capital Stock outstanding is fully
paid and lion-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 as follows:
April
Oct.
Oct.
June
7
17
25
4
1905
1906
1909
1910
from
from
from
from
$3,000,000
6,000,000
12,000,000
18,000,000
to $6,000,000
to 12,000,000
to 18,000,000
to 36,000,000
Different issues of the above increases were sold as follows:
Apr.
Sept.
Oct.
Feb.
•Oct.
June
June
1905.. 12,000 shares at 105
1905. _ 18.000 shares at 100
1906 40,000 shares at 125
1908 10,000 shares at 137.50
1908 .40,000 shares at 150
1909.-10,000 shares at 155
1910.-20,000 shares at 190
Solil to Stockholders for cash
“
“
“
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 average’ ofjpar
and are hereinafter referred to.
O ot
8 1 9 1 0 .]
THE CHRONICLE
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 1010 by the
following resolution:
“ Resolved, That the amount of the Capital Stock of The Texas Company
be and the same Is hereby Increased from Eighteen Million Dollars
(518,000.000) to Thirty-six Million Dollars (536,000,000), 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 5100 each
Instead of 180,000 shares of the par value of 5100 each.”
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:
6-inch pipe, 273 miles; 8-inch pipe, 541 miles; total, 1,048
miles
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
secure 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
a 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 elected 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.
lh e 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 of the
following:
" Whereas, The present authorized Capital Stock of The Texas Company,
Including the Charter Amendment of June 4 1010, Is fixed at the sum of
Thirty-six Million Dollars (536,000,000), 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 (59,000,000); and
“ Whereas, For more than a year past the stock of the Company has had
a market value of considerably more than 5150 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 Tcwnty-seven Million Dollars (527,000,000), notwithstanding the
fact at the present time Its outstanding capital does not exceed Eighteen
Million Dollars (518,000,000); and
“ Whereas, Now that the present authorized capital Is Thirty-six Million
Dollars (830,000,000) as aforesaid, of which there exists unappropriated
In the treasury 180,000 new shares of stock of the par value of Eighteen
Million Dollars (518.000.000), 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
No.
“ 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.”
C O N V E R T IB L E D E B E N T U R E S A N D S E R IA L N O TE S.
During the year of 1908 there were authorized, issued and
sold at an 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
$150 per share, or at the rate of six and two-thirds shares of
stock for every $1,000 debenture. The Equitable Trust
Company of New York acted as Trustee and Registrar of
these debentures. On June 30 1910 there were outstanding
$30,000 of such debentures, full provision having been made
for protection of the owner by allotment and issue of proper
shares in respect thereto. At the present time only $3,000
of such remain outstanding; they are, however, redeemable
January 1 1912 or on any interest day thereafter at the
option of the Company.
During August 1910 conditions arose which seemed to
justify the extension and enlargement of the Company’s
transportation and distribution facilities. For this purpose,
$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
Coupon Notes, were, for conveninece, dated July l 1910.
They are redeemable at the Company’s option at par, and
each series of $300,000 matures annually, beginning Janu
ary 1 1912. The entire issue outstanding on any interest
day may be paid and retired.
J>61
„
,
STEEL TANKAGE.
of Tanks.
47
55,000 barrels capacity
....................
19
50,000
“
••
180
37,500
"
"
...............:
Miscellaneous sizes.............................I
2.585.000 barrels050,000
“
6.750.000
“
1.200.000
"
EARTHEN TANKAGE.
Sll.48a.000
58 tanks .................................................... . . ..............10,360.000
PRO D UC TIO N H A N D L E D B Y PIPE L IN E S.
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
T H E L O U IS IA N A C O M PAN Y.
To comply with local conditions and the demands of the
business, The Louisiana Company was incorporated under
the laws of the State of Louisiana April 4 1906 for a period
of ninety-nine (99) years
The authorized capital is $1 ,
000,000, consisting of 10,000 shares, par value $100 each,
of which 8,523 shares were issued and sold to The Texas
Company at par, for $852,300, and are all owned by The
Texas Company, such being carried among “ other invest
ments” on The Texas Company’s Balance Sheet.
The Louisiana Company owns and operates a 6-inch
trunk pipe line running from Lake Charles, La., to the Jen
nings, I.a., field, a distance of forty miles, with a pump
station at Lake Charles; also a 6-inch trunk line from Vivian
L a., to Ardis, L a., in the Shreveport field, a distance of
thirty-two miles, with a pumping station at Oil City, La.
There is under construction by The Louisiana Company an
8-inch trunk line from Ardis to Logansport, at which point
it enters the State of Texas. This pipe line will continue from
this point through Jasper, Texas, to The Texas Company’s
refinery at Port Arthur, a total distance of two hundred
miles. It also owns the necessary gathering lines in the
Shreveport and Jennings fields, together with the tankage,
pumping stations, rights of way and telegraph and telephone
lines necessary for the operation of its pipe lines.
O IL F IE L D S , PIPE L IN E S, T A N K A G E , &C.
A very large oil field was discovered at Spindle Top, near
Beaumont, Texas, and in 1902 the trunk pipe line system
owned and operated by The Texas Company was started
by the laying of a G-inch line for a distance of twenty miles INCOME ACCOUNT OF THE LOUISIANA COMPANY FOR THE
from Spindle Top to the seaboard at Port Arthur, Texas,
TWELVE MONTHS ENDING JUNE 30 1910.
on the Gulf of Mexico. As new fields were discovered, the Gross earnings from plpeage, storage, royalty and other revenue 5210,565,92
Company's pipe lines were extended (first) twenty miles to Less operating expenses___________ _____ ______________ _____ 80,384 66
Sour Lake, Texas; (second) ten miles to Saratoga; (third)
Net earnings
5130,181 26
. 85,230 00
fifty miles to Humble and (fourth) twenty miles to Houston, Dividends paid
Texas— all six-inch pipe lines.
Carried to sinking fund and depreciation_________ _________ 544,951 26
In the latter part of 1907 the Company decided to extend
The Balance Sheet of the Louisiana Company for the past
its trunk lines to the large producing fields in the north, fiscal year ending June 30 1910 follows:
principally in the Indian Territory and Oklahoma, and
Assets.
Liabilities.
Capital Stock________ 5852,300 00
started the construction from the terminus of its then Investments in pipe
lines, tanks, boilers,
Accounts payable_____
204,463 71
existing pipe line at Humble, Texas, of an 8-inch line, 460
pumps, telegraph and
Bills payable_________
285,429 4*
telephone lines____ 51,060,200 86 Sinking fund and de
miles in length. The line runs practically due north through
real estate, oHpreciation _________
261,615 79
or near the towns of Dobbin, Concord, Corsicana, Dallas Leases,
produclng and other
428,634 01
Surplus...................... ..
properties-------------591,304 42
and Sherman, Texas, Armstrong, Stuart, Henryetta and
on
Tulsa, Oklahoma. At each of these points, as well as at Supplies
h a n d ___ 528,108 18
Humble and Sour Lake, Texas, is located one of the powerful Accounts re
ceivable..
6,883 16
pumping stations which relays the oil in its movement
Bills receiv
toward Port Arthur. From Tulsa branch lines reach the
able _____ 37,250 00
various producing fields, known as Glenn Pool, North C a sh ........... 8,648 29
--------------80,889 63
Extension, Flat Rock, Bald Hill, Bird Creek, &e., in Okla Unexpired Insurance..
48 06
homa. A further extension of this 8-inch trunk pipe line
51,732,442 97
51,732,442 97
is at present under construction from Tulsa to Bartlesville,
R E F IN E R IE S A N D B U SIN ESS OF T H E T E X A S
Oklahoma, a distance of forty-three miles, to reach the
C O M P A N Y.
shallow fields at and near Delaware and Nowata, Oklahoma,
as well as the prospective deep development in the Osage
The Company’s refineries are located at Tulsa, Oklahoma,
Nation. There is also under construction the necessary West Dallas, Port Arthur and Port Neches, Texas, and have
field and gathering lines, as well as a trunk line station near an aggregate daily capacity of 30,000 barrels.
Bartlesville.
The business of the Texas Company can be briefly described
The mileage of The Texas Company’s pipe lines, including in a general way, as follows:
The crude petroleum produced in the oil fields reached by
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; 1 the Texas Company pipe lines is purchased from the pro-
962
THE CHRONICLE
ducers 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 syccessive
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
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 points economic
ally reached from there by rail shipments. A pumping
station at Tulsa pumps oil southward through the S-inch
trunk line, and when it reaches W est Dallas it is delivered
into the twenty large steel 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
oetroleum which is received at West Dallas and is not
manufactured there is pumped on through the trunk line to
the Company’s refinery at Port Arthur, where is is available
for manufacture as conditions may make necessary.
The trunk line between W est 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 products of petrol
eum are 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 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 refinery is
largely that produced in Southern Texas and 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 which 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 with the differ
ent kinds of crude petroleum from the principal fields, thus
enabling the Company to turn out many kinds of finished
products.
All of the main refinery buildings are of fireproof con
struction, and are equipped with the latest and most im
proved machinery, such as electric generating sets for fur
nishing power for lights and for the operation of pumps,
presses, elevators and other machinery, including the boiler
shops, machine shops, car-repair shops, &c. Suitable
appliances are used for the manufacture of all grades of
gasolines and naphthas, illuminating, cylinder and lubri
cating oils, greases, asphalt and other refined products.
The necessary steam for the operation of the refineries and
stations is supplied by the latest improved water tube boilers
aggregating 20,000 horse-power.
The territory nearest to the Company’s pipe lines and
refineries affords a practically unlimited outlet for its fuel
oil, and a constantly increasing market for its refined pro
ducts.
Rail shipments of all petroleum products are made from
Port Arthur, Texas, direct to New Mexico, Arizona, Colorado,
Utah, Wyoming, Montana, North Dakota, South Dakota,
Nebraska, Kansas, Missouri, Arkansas, and by water to the
Company's terminals at Galveston, New Orleans and Mobile
for [distribution, while the Atlantic States are supplied
through the Company's terminals at Jacksonville (to lie con
structed), Charleston, Norfolk, Baltimore, Philadelphia,
NewjYork, Providence and Portland (under construction.)
D IS T R IB U T IN G STA TIO N S.
W A storage plant in Antwerp, Belgium, supplies Northern
Continental Europe, while full cargo shipments are made
direct from^Port Arthur to all foreign countries.
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 and agencies
isjnow two hundred and forty (240), and their number is
being rapidly increased.
Terminals—
Amesvllle, La.
Antwerp, Belgium
Baltimore, Md.
Bayonne,N. J.
Charleston, S. C.
Delaware River (Mar
cus Hook, Pa.)
Mobile, Ala.
Norfolk, Va.
Providence, R. I.
Port Arthur, Texas
Portland, Me.
Stations—
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
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
v 51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
(Texas)
Abilene
Alice
Amarillo
Angleton
Anson
Ballinger
Beevllle
Big Springs
Bonham
Brady
Brcnham
Bronte
Brownsville
Brown wood
Calvert
Center
Chestervlllc
Childress
Chllllcothe
Christine
Cisco
Cleburne
Cleveland
Coleman
Colorado
Columbus
Comanche
Corpus Christi
Crockett
Crowell
Dalhart
Dallas
Del Rio
Denton
Dublin
Kagle Lake
Eagle Pass
El Campo
El Paso
Ennis
Forney
Fort Smith
Fort Worth
Gainesville
Galveston
Ganado
Garwood
Georgetown
Glddings
Gilmer
Goldrhwaite
Gonzales
Graham
Greenville
Hahillton
Hamlin
Harrisburg
Haskell
Henrietta
Hereford
Hillsboro
Honey Grove
Houston
Hubbard City
Humble
Jacksboro
Kaufman
Kerrvllle
Killeen
Kingsville
Kirby vllle
Lampasas
[V ol . IOCXXXI
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
01
92
93
94
95
06
97
08
09
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
110
120
121
122
123
121
125
126
127
128
129
130
131
132
133
134
135
136
Laredo
Leonard
Ltssie
Llano
Lockhart
Longview
Lubbock
Lufkin
McKinney
Marshall
Matagorda
Memphis
Mercedes
Merkel
Midland
Mineola
Morgan’s Point
Mustang
Navasota
New Braunfels
Nottawa
Orange
Palacios
Palestine
Pearsall
Pecos
Plalnview
Port Lavaca
Port O’Connor
Quanah
Rockport
Rusk
Sablnal
San Angelo
San Antonio
San Marcos
Seguln
Sherman
Seymour
Snyder
Sour Lake
.Stamford
Stcphensvlllc
Sweetwater
Tarncll
Taylor
Temple
Terrell
Texarkana
Tlmpson
Uvaido
Van Horn
Vernon
Victoria
Waco
Waxahatchle
Wcamera rd
Webster
Weimar
Wharton
Wichita Falls
Wills Point
Wood vllle
Yoakum
Louisiana—
1 Abbeville
2 Alexandria
3 Baton Rouge
4 Boyce
5 Breaux Bridge
6 Bunkle
7 Crowley
8 Delhi
9 Donaldsonvlllc
10 Elton
11 Eunice
12 Franklin
13 Greenville
14 Harvey Canal
15 Homer
16 Houma
17 Jeanette
18 Jennings
19 Lafayette
20 La Fourchc Cross
ing
21 Lake Charles
22 Lake Providence
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
Mansfield
Minden
Monroe
Morgan City
New Iberia
New Orleans
Oil City
Opelousas
Plaquemlnc
Port Barre
St. Joseph
St. Martinsville
West End
Welsh
Winfield
M ississippi—
1 Brookliaven
2 Clarksdalc
3 Columbia
4 Hattiesburg
5 Jackson
6 Laural
7 Magee
8 Meridian
9 Moss Point
10 Vicksburg
11 West Point
12 Wood vllle
Eastern Division—
1 Beaufort, S. C.
2 Boston, Mass.
3 Bridgeport, Conn.
4 Charlotte, N. C.
5 Chlncoteaguc, Va.
6 Colonial Beach, Va.
7 Donton, Md.
8 Durham, N. C.
9 East Brooklyn,Md.
10 Fall River, Mass.
11 Fedcralsburg, Md.
12 Greensboro, N. C.
13 Irvington, Va.
14 Newark, N. J.
15 New Bedford,Mass.
16 Newport, R. I.
17 Ogdensburg, N. Y.
18 Pocomoltc CIty.Md.
10 Raleigh, N. C.
20 Reedsvillc, Va.
21 Sea Cliff, L. I.
22 Sharps, Va.
23 So.Pnlladelphla.Pa
24 Springfield, Mass.
25 Staunton, Va.
26 Sumter, S. C.
27 Bradley Beach,N.J
Miscellaneous—
1 Albuquerque, N.M.
2 Artesla, N. M.
3 Carlsbad, N. M.
4 Clifton, Arlz.
5 Clovis, N. M.
6 Demlng, N. M.
7 Douglas, Arlz.
8 Nogales, N. M.
9 Roswell. N. M.
10 Tulsa, Okla.
11 Atlanta, Ga.
12 Birmingham, Ala.
13 Decatur, Ala.
14 Demopolls, Ala.
15 Greenville, Ala.
16 Mllledgcvllle, Ga
17 Pueblo, Colo.
Totals.
T e x a s________ 136
Louisiana . — 37
Mississippi___ 12
Eastern D lv ... 27
Miscellaneous.. 17
229
Terminals______11
240
RO LLIN G STO C K , ST E AM E R S AN D BAR G ES.
The rolling stock owned by The Texas Company consists
of 1,010 tank cars, of which 800 arc of the latest pattern,
with steel under-frames, and ‘210 are of other construction;
five locomotives, four crane locomotives and other railroad
equipment necessary for the distribution of both crude and
refined products.
The fleet owned and operated by The Texas Company has
a bulk capacity of 210,000 barrels, and consists of the
following:
Five ocean-going tank steamers— “ Texas” , 50,000 bbls.
capacity; “ Northwestern” , 22,500 bbls. capacity; “ Northtown,” 22,500 bbls. capacity; “ Northman” , 22,500 bbls.
capacity; “ Florida” , 12,500 bbls. capacity.
Nine ocean-going steel tank barges— “ Dallas,” “ Caddo,”
“ San Antonio,” “ Sun,” “ Star,” “ Magnolia,” “ Hum ble,”
“ Moon,” “ Tulsa.”
Ten wooden barges— “ Batson,”
“ Hobson,”
“ Harry
Morse,” “ Saratoga.” “ Jennings,” “ Henrietta,” “ W elsh,”
“ Houston,” “ Io la,” “ Scott.”
Two tugs— “ B rady,” “ Lone Star.” One steam lighter—
“ Nina C .” Also eight motor boats.
D IV ID E N D S .
The Company has paid cash dividends as follows:
Fiscal
April 30
April 30
April 30
April 30
June 30
June 30
June 30
June 30
June 30
— Dividend for Year—
Year ended—
P. Ct.
Amount.
10
$165,000
1903 _____________
1904 -------------6
180,000
1905 (3% quarterly) ...................- ................. ....... 12
360.000
1906
“
’’
12
612,000
1907
“
’’
( 5 ) ................................... .15
1,002,000
1008
“
“
12
1,200,000
1009
”
’’
12
1,320,000
1909 (extra)...............
5
550,000
1910 (3% quarterly) ....................
12
1,562,872
Total cash............ ......................- ------------ ---------------------- .$6,051,872
In addition to the above, special dividends were paid as follows:
June 30 1908, on $11,000,000 Capital Stock (10% )...................... 1,100,000
(Being a distribution of securities In treasury having a par
value of $1,100,000.)
June 30 1910, on $18,000,000 (stock dividend, 50 % ).................. 9,000,000
Total dividends................ ................- ..................................... $17,051,872
O o t. 8 1910. J
INCOM E
THE CHRONICLE
ACCOUNT FOR T H E T W E L V E
E N D IN G JU N E .‘10 1910.
M ONTHS
Gross earnings from sales of oil anil other revenue-. .
so 848 770
Less operating expenses...................................... $5,562,764 88 ’
’
Less Interest aiul taxes_____________ ________ _
374,222 40
-------------------- 5,936,977
Net earnings_______________________
53 911 703
Less added to Insurance reserve during the year. $250,000 06 ’
'
Less added to sinking fund and depreciation acc’t 998,921 25
-------------------- 1,248,921
51
26
25
25
n
i v l X Cd,a paid..............................................................................
f° r SUrPlUS and dlvldends.............................$2,662,872
uiviaenus
1,562,872 00
00
Carried to surplus.......................................................................$1,100,000 00
B A LA N C E S H E E T FO R T H E FISCAL
JU N E 30 1910,
Y E A R ENDED
ASSETS.
Pipe lines, tankage, &c-------------------- --------- .$9,188,264 40
fcihlps, cars, terminals, distributing stations,&c. 5,235 230 *>1
Refineries, real estate, rights of way, &c........... 4,045,241 24
c 1s /lfis
a~
Total plant account.......................... ........
Other investments.................... ..................................................no
.................*.............
808 ,300 00
Current assets:
Cash on hand___ __________________ ____ <2 123 4*17 5 s
Stock of oil, crude and refined and in process ’
’
of manufacture________ _____ ____
« r,K7
err.
Bonds and mortgages--------------------------- i ’o 84 7 7 7 45
Accounts and bills receivable________ _____ 3,67o’213 71
Unexplrcd Insurance...........................................7 ____
13 133 *159 84
„
,
l ia b il it ie s .
Capital Stock:
Less
u
nlssued
.............................................$36,000,00000
ness unissued................................................... 9,000,000 00
$32,901,866 98
-$27,000,000
Current liabilities— Accounts and bills payable Including
$30,000 Convertible Debentures
PayaDie. including
822,629
Suspense account to provide for doubtYuf acco'unt¥ receTva
83,596
Insurance reserve fund
------------ --------------750,000
Surplus fUn<1 and dePrcciatIon“ against plant account! 111111 3,145:640
...........................................................................................
1,100,000
00
39
76
00
43
00
$32,901,866 98
In addition to having provided a substantial insurance
reserve, as shown on the Balance Sheet, the Company
carries large ones with the Underwriters on stocks, refineries
plants, ships, Ac.
’
The By-Laws provide:
¥ ay Arnc'ui Rv-Laws.— "The Board of Directors shall have
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 sncrHi
ofCnn I f o fm UD*oard’ or
a majority with the written assent of two-thirds
? L ad
Directors, provided that notice of Intention to make, amend or
tho 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.”
b
Subj,ecl 10 Amendment by Stockholders.— ” All By-Laws shall
Ann.ViV™ 7°, amendment, alteration and repeal by the Stockholders at any
annual meeting and at any special meeting called fo»th a t purpose.”
fe e lin g s .— ''Spec al meetings of the Stockholders for any purm°pnf°criJnnrPfSCf! may, b<; called by the Directors, either by written Instru
ment signed by a majority, or by resolutions adopted by a vote of a 111a-
963
o n e T h l^ o f^ h l1 p « ^ 1
i ? cLb y ,th.e President whenever Stockholders owning
writing!” 1 th Capltal Stock fssued and outstanding shall so request In
andrurfsfibse r l b e r i ~ f n 1? rc,s, of st? ck authorized by law but unissued
dtanoswl at for
qh nr ™i! bet deem?d treasury stock, and such may be
term Inc- bn m i , / ? . ° r0P^? P T V? the Board may from time to time detcrmine, out the terms of such disposition must receive the affirmative
movalma°v be h id V ^ f? , Clght Directors In office ^ h e ^ i m e ^ SuchapDlrcctors so remitted A t * * r ^ ^ encc aXd affirmative vote of the number of
ber m a v e x n r ^ s I n ^ H n
meeting or the necessary additional numoer may cxpxess in writing their approval in advance of such meeting.”
r1rue. 1 ?x a n,Com.Pany aSrees with the Exchange, as follows:
that it will maintain a transfer agency in New York City,
and give the New \ ork Stock Exchange at least ten days’
noace of the closing of its transfer books for any purpose.
I hat it \\ill 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
year, and a Balance Sheet showing the assets and liabilities
at the end of the year.
That it will not dispose of its interest in any constituent
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
panies securities, or permit similar speculations by any of its
constituent companies.
rm10 general office of the Company is in Houston, Texas
I lie fiscal year ends June 30.
The annual meeting is held on the third Tuesday in
Novem bei, at such place as the Board may direct.
_
r sTii^ st°ck are made at the Company’s office,
17 Battery Place, New York City.
rp T1‘° Registrar of the Company’s Stock is the New York
Trust Company.
1 lie Directors of the Company are elected annually
The
present Directors are: J. S. Cullinan, Arnold Schlaet, L. H.
Lapham, J. W . Gates, J. F. Harris, R . E . Brooks T I
Donoghue, James L. Autry, E . C. Lufkin, C P Dodge
R. C. Holmes, G. L. Noble, M. Moran.
’
*
ge’
The Officers of the Company are: J. S. Cullinan President*
Arnold Schlaet, Vice-President; E . C. Lufkin, Second Vice
President; James L. Autry, Secretary; R . E . Brooks, Treas
urer.
THE
T E X A S C O M PAN Y,
E . C. L U F K IN , V ic e -P r e sid e n t.
This Committee recommends that the above-described
$27,000,000 Capital Stock be admitted to the list.
W M . W . H E A T O N , C h a irm a n .
A d o p ted by the G overn in g C om m ittee S ep tem ber 28 1910.
G EO R G E W . E L Y , S ecreta ry.
T H E KANSAS CITY SOUTHERN R A IL W A Y COMPANY.
1 E N 1 H A N N U A L R E P O R T — FO R T H E FISCAL Y E A R E N D E D JU N E 30 1910
r,i n
ri, i i i ,
J £ (i nsas C it y , M o . , S ep tem ber 15 1910.
1 o t h e Stockholders o f 7 he K a n s a s C ity Southern R a ilw a y Co
The tenth annual report of the affairs of vour Company
being for the year ended June 30 1910, is herewith presented.
MILES OF RAILROAD.
The track mileage of your Company on June 30 1910 was
as follows:
Main Line—
Kansas City, Mo., to Belt Junction, Mo___ 11.97 miles.
Grandview, Mo., to Port Arthur, Tex ____ 765.32
“ '
777.29 miles.
Branches—
Spiro, Okla., to Fort Smith, A rk _ ...........
16.47 miles
Janssen, Ark., to Bonanza Mine____ ____ _ 2.79
“ '
West Lake, La., to Lockport, La _
" " i 05
“
DeQuIncey, La., to Lake Charles, L a .- X I I 22.59
“
Yard, Terminal and Side Tracks—
North of Belt Junction and In and around
Kansas City----------------- -------79 22 m,,e„
All other Yard, Terminal and Side T ra ck s..283.38 ” '
Second Track.....................................
3®|*®a ml£ s'
Total owned or controlled...............................................1,191.36 miles!
Operated under Trackage Rights—
Jl>nct[°n, Mo., and Grandview, Mo., the
used hv0,rhn irSt* LoA‘,Is £ San Francisco R R . Co. are
a g e contract-^anSaS C ty Southern
Co. under trackLcngth of track so used— Main T ra ck.. 11.03 miles.
“
Sidings______ 1.36
Operated under Lease—
12.39 miles.
Yard Track to plant of Armour Packing Co_____________
3.74 “
45.90
Total Miles In System.............
1,207.49 miles.
SAME BY STATES.
Owned by 7 he K . C. S. liy. Co. and'Sub. Cos. Operated Operated
unaer
under
Second
Yard
I.ease— Trackage
Main Line.
Main
Branches. Track and
Yard
Rights.
Track.
Sidings.
7’rack.
174.48
5.57
101.02
.83
12.39
18.38
56.58
2.91
____
152.92
4.22
43.28
___
| ____
127.62
15.04
33.66
___
.
222.79
26.64
76.10
___
| .
81.10
51.96
___
1
‘
Stale—
Missouri..........................
Kansas.............. ..........
Arkansas___________
Oklahoma__________ I
Louisiana.............. ....
Texas _______________
Total
777.29
During the past fiscal year the total track mileage of the
system was increased from 1,181.40 to 1 207 49 makimr a
!temsdditi° 11 ° f 2 0 '09 miles’ which consists of' the folio whig
Length of reconstructed line____ 3.47 miles
Length of original line abandoned.3.44
•• ’
.03 miles.
Net additions to Operated Yard, Terminal and
Side Tracks . ............................
................ 26.06
5.57
45.90
362.60
3.74
,
12.39
Total.
294.29
77.87
200.42
176.32
325.53
133.06
1,207.49
Of the total system mileage, the following was not operated
by your Company during the year ended June 30 1910:
Bonanza Coal Mine Spur— Operated by the Central
Coal & Coke Co. under contract—
Lockport Branch— Operated by Edgewood Land & Logging Co ° -U 'nlIeS‘
under lease—
s
-------- - ....................4.05 miles.
Sidings aDCh---------------------...................................................................107
..
—------------- 5.12
-26.09 miles.
“
Total not operated by The Kansas City Southern Ry. Co.Tl.53 mTeT
THE CHRONICLE
!)G4
Therefore the total mileage operated by your Company
during the year was:
788.32
39.00
Main Llne.
Branches
Total Main Line and Branches Operated-------------------------------- 82I"'r§
Second1 Track
Track--------------------------- -------- - ................................- ............
aoa.ui
Yard, Terminal
Termlm and Side Tracks________________________________ ________
Total Mileage Operated------------ ---------------- -------- --------------------- 1,195.96
During the past fiscal year the total operated track mileage
increased from 1,169.87 to 1,195.96, making a net addition
of 26.09 miles, which consists of the increase in operated
mileage already explained; there being no increase in mileage
not operated.
Inc. ( + ) or
Dec. (— ).
Gross Earnings Jrom Operation— 1909-1910
1908-1909.
Freight Revenue
______$7,220,738 98 $0,638,419 78 + $588,319 20
+ 75,801 93
472,462 47 _ 390,600 54
Switching Revenue________
-------------------Passenger Revenue----------1,430,114 47 1,306,078 81 + 124,035 66
— 519 91
15,206 58
Excess Baggage Revenue—
14,086 67
+ 2,926 96
8,788 88
Special ServiccTraln Revenue
11,715 84
+ 506 57
111
35
Other Pass. Train Revenue..
077 92
+ 958 27
118,335 10
Mall R evenu e.-.....................
11®,293,37
+ 18,110 09
164,770 76
Express Revenue__________
182,880 8o
__
Miscellaneous Transportation
— 5,847 00
9,390 00
Revenue
____ ________
3,543 00
Revenue from Operations
+ 18,334 42
114,203 59
Other than Transportation
132,538 01
EQUIPMENT.
The Rolling Equipment owned or otherwise controlled on
June 30 1910 consisted of:
Acquired
Acquired
under
under
Equip.
Equip.
Passenger
Equip.—
Owned.
Trusts.
Owned. Trusts.
Locomotives22
Coach cs.
18
Passenger----12
27 Chalr_________ _____ _
120
4
8 Coach and Baggage___
29
4
Coach and Mall---------1
35 Baggage, Coach & Mall.
167
9
10 Baggage --------------------53
Express and Mall______
Freight EquipmentExcursion ___________
950 Office and Pay Cars__
2,353
183
T o ta l____________
99
270
Work Equipment—
99
95
395 Outfit Coaches______
1.476
Outfit Flat_________
Convcrtlblo Coal and
99 W ater_____________
Ballast- _
517
. . . Derrick------------------F la t...........
Steam Shovels______
4,894 1,642 Slope Levclers______
Ditchers----------------In Work Service—
Pile Drivers-----------415
B o x _______________Lldgcr woods-----------1
W a ter______________
30
Coal _______________
Total
79
F lat..........................
248
...
773
T o ta l_______ ______ - 773
5,667
T o ta l______________________ $9,594,651 58 $8,771,965 39 +$822,686 19
Operating Expenses—
Maintenance of Way and
Structures__________________ $1,047,34845 $960,600 23 + $86,748 22
Maintenance of Equipment. 1,195,698 89 1,006,697 80 + 189,001 09
+ 48,362 92
271,593 55
319,956 47
Traffic Expenses ---------------Transportation Expenses__ 3,346,463 46 2,779,583 51 + 566,879 95
+ 27,536 25
359,11740 331,581 15
General Expenses_____________
Total
..$6,268,584
67 $5,350,056 24 + $918,528 43
T a x e s __ I I Z I I I _______ $343,773
00
$322,279 42 + $21,493 58
Net Earnings—Taxes not Dc95,842 24
ducted . . . ___________ 3,326,066
91 3,421,909 15 ——117,335
82
Net Earnings—Taxes Deducted 2,982,293 91 3,099,629 73
Ratio of Operating Expenses to
+ 4.34 5
Earnings_________ ________
65.33%
Ratio of Operating Expenses
+ 4.26^
04.66% ^
and Taxes to Earnings------68.92/0
...
1,642
In addition to this railroad property, its rights of way, real
estate, buildings, equipment, appurtenances, &e., your
Company on June 30 1910 controlled, by virtue of its owner
ship of securities, all the property of the following corpora
tions, viz.:
PORT ARTHUR CANAL & DOCK COMPANY.
Lands, slips, docks, wharves, warehouses, one grain
elevator (capacity 500,000 bushels), &c., all at Port Arthur,
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.
KANSAS CITY SHREVEPORT
& GULF TERM INAL COMPANY
Union Depot property at Shreveport, Louisiana, including
its real estate, buildings 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
City Shreveport & Gulf Terminal Company.
THE ARKANSAS WESTERN RAILW AY 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 IC. C. S. ELEVATOR COMPANY.
One first-class elevator of capacity
situated at Kansas City, Missouri.
650,000
GLENN-POOL TANK LINE COMPANY.
That portion of the System lying within the State of Texas,
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 lh e Kansas ( ity Southern
Railway Company in so far as necessary to show the results
of tiie operation of the whole line from Kansas ( ity to the
Gulf.
RESULTS OF OPERATION.
The following statement shows the results of operation of
the Kansas City Southern Railway for the year ended June 30
1910, compared with corresponding results for the preceding
year:
1908-1909.
788.29
39.06
336.95
5.57
The Gross Earnings for the year ended June 30 1910, com
pared with the Gross Eanrings for the preceding year, show
the following increases:
Passenger, Mall and Express.................. ............................- .......
Freight------------------------- --------- ..................- ............
Switching-------------------- -------- ---------------------------------
588 319 20
' 75 ’i8o i 93
12,487 42
Miscellaneous----------------------------------------------------------------------’______
Total Increase________________________ _____ _____________ .$822,686 19
The increase in Passenger, Mail and Express Earnings is
due to the general development of the territory tributary
to your road.
.
.
The increase in Freight Earnings is due to the develop
ment of the oil fields of Oklahoma and Louisiana; to the dis
covery of additional large oil and gas fields near Mooringsport, just north of Shreveport, L a., 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, A ik.
It is gratifying to observe that the large increase in I'reight
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 was 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 repoits
resulted from the following causes:
The movement expense of additional volume of Revenue '1 raffle—
’
107,820,804 tons one mile...................... - - - ........v,;'lL V iin f
The movement expense of excess volume of Company 1 reigru,
used In Improvements for whichnorevenue charge was made.
3 9 ,036,889 tons one mile___________ ________ - . - - - ..............109,303 uu
Increase due to Increased cost of fuel used In operation
251,075 tons coal at Increased cost of 17 cents
per ton______________________ -------- - - - . - - - -*42.083 00
718,026 barrels of oil at Increased cost of 4.4
cents per barrel..........................................................
uu 74 3 7 0 0 0
Increase due to settlement during the year of largo claims for ^ 2Q8 0Q
Tnerease^n1Maintenance”Charges due "to" increased cost of ma
terials and to improvement of the general condition of the
Increase In Traffic Expenses due to e x tension of O utsk1c ^ c o
des, enlargement of Industrial and ^nmjgratlon Buicaus.
Increased advertising and Increased cost of ,la '*!Tay - - "
Increase In General Expenses due to Increased cost of compllh g
Governmental reports-------------------------------------------------------
295,312 00
’
2,050 00
$918,528 00
bushels,
A Company owning 83 tank cars, and controlling 170 tank
cars 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
of the stock.
.Operated Mileage—
1909-1910.
Miles of Main Line. _ ___ .
788.32
Miles of Branches.-------------39.06
Miles of Spurs and Sidings..
363.01
Miles o f Second Main Track.
5.57
[ VOL. L X X X X I
Inc. ( + ) or
Dec. (— ).
+ .03
+ 26.06
No revenue charge was made against a n y Company I'reight.
During the year the Net Expenditures for Additions and
Improvements were:
From Proceeds of Refunding and Improvement Mortgage
Gold Bonds Issued July 1 1909 ----------------- ------------------ 343 156 32
From Surplus------------ ----------------------------------------------------------------- !______
Total.................. ........................................... ..........................$1,902,829 84
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, of which some have
been completed and others arc in course of construction.
n e w t r a c k s to s e r v e n e w in d u s t r ie s .
Completed _______ Ballard, Oklahoma.
I. J. B a y lc ss-------------------------------- ----------------Amsterdam, Missouri.
Amos H. Han------------------------ ________________ Sheffield, Missouri.
Southern OrchardTnAnting'Company..................*J}|®
south®™ <^hard ££ntta* <3°.m * A r k a n s a s .
Richards & Conover Hardware Company............Kansas City Missouri.
Standard Ice & Fuel Company. ...........................mu I
K
a8‘
H e ls K
hroussa'rd: ’. 11'.------------ I.Beaumont, Texas.
U'banana1Lumber Company................................... - Many^nrt^LoUlslana
The Texas C om pan y.............................................’ Ix,ulslanaSouthern Orchard Planting Company
..........Mile 438
General Industry Track for loading stock.............Ml e 101-2
J. C. Trees Oil Company.........................................J
a a !a ’
Rh<kot>ciCompany: : : : : : : : : : : : : : : : : : : : : : : : :
nd. o w K S m a .
Farmers Oil & Fertilizer Co...................................Texarkana. Texas.
O ct . 8 1910.1
THE CHRONICLE
N E W T R A C K S TO S E R V E OLD IN D U S T R IE S .
C om p leted —
Davis & Allen__________________________________ Cass, Texas.
C. E. Forrester_________________________________ Cauthron, Arkansas.
Darker & LIghton, Sawmill_____________________ Mile 401.
Geo. W . Signor T ic C om pany___________________ Neal Springs, Arkansas.
T a ylor & Cook Lumber C om pany_______________Mile 417.
Sheridan Coal C om pany________________________Fuller, Kansas.
Fowler Packing C om pany------ -----------------------------Kansas City, Kansas.
Vivian OH C om pany____________________________ Vivian, Louisiana.
Caddo Gas & OH C o m p a n y ......................................OH C ity, Louisiana.
Howard Lum ber C om pany____________ ________ .M ile 317.
Mena B ox & Manufacturing C om pany_________ Mile 382.
U n c o m p le te d —
Sheridan Coal C om pany________________________ Fuller, Kansas.
The Texas C om pany..................................................P o r t 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
965
the year became one of the prporietary Companies of the
Kansas City Terminal Railway Company by subscription to
and purchase of 8100,000 of the capital stock of that Com
pany. 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
190!), was prosecuted vigorously during the vear.
The situation June 30 1910, with respect to the 810,000,000
of Refunding and Improvement Mortgage Bonds authorized
to be issued July 1 1909 was as follows:
Expended to
June 30 1910.
Distribution ot Proposed Expenditures—
Discount on B onds________ _____ __________________________________
I’o luiy 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 o f the total length of the line_______ ____________ _
Rc-arranglng Four Division Terminals to permit of better and m ore econom ical operation under
the 16-hour law and to provide more adequate facilities for taking care of Power and Traffic
Ditching, Ballasting, New Hall, Im provem ent to Tracks and Bridges
Im provem ents of Terminal Facilities at Kansas City and Port A rthur facilities for securing;
new business and other corporate purposes________ .
$375,000 00
5.100.000 00
Balance to Be
E xpended.
$375,000 00
5,100,000 00
1.250.000 00
604,096 70
$645,903 30
1 ,0 00 ,000 00
1 , 0 00 ,000 00
330,968 89
258,724 42
063,031 11
741,275 58
1.275.000 00
690,998 63
684.001 37
$ 10 , 0 00 ,000 00
$7,365,788 64
$2,634,211 36
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 heavy rails for the
entire distance of 560 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.
During the year the 30 locomotives which were purchased
in January 1908 for 8525,660 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
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 . E D SO N , President.
San Joaquin Light & Power Corporation, Fresno, & c.,
Cal.— iVew 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
mortgage to secure an issue of “ first and refunding” 6 % gold
bonds limited to 825,000,000, of which 81,500,000 “ Series A ” ,
bonds to be issued at present. The Trust Co. of America,
New York, is mortgage trustee.
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.
The bonds arc to be dated A ug. 1 1910 and mature Aug. 1 1950 but are
subject to call at 102 M 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 33,000,000 San Joaquin Light & Power
Issue, which Is not to be retired.
The earnings of the old com pany for
the 13 months ending Dee. 31 1909 were reported as gross, $466,189- net
over oper. exp ., $323,021, contrasting with $245,800 for the 12 months
ending N ov. 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 87,693,700 to 88,792,800, the additional
10,991 shares of 8100 to be offered to stockholders of record
as of Oct. 15, in the proportion of one share of new stock for
each multiple of seven shares held by them respectively.
(1) Subscriptions must be for full shares and be made by 4 p . m. Dec. 1
1910. (2) Subscriptions will be paid $50 per share on or before Jan. 18
1911 and $50 per share O ct. 18 1911. (3) Interest at 6 % will be paid on
the first Installment April 15, July 15 and O ct. 15 1911. (i) Certificates for
new stock will be Issued as soon as possible after O ct. 18 1911. ( 5 ) The
new stock will participate In the dividend of Jan. 15 1912. ( 6 ) The com
pany will not deal In rights or fractions, but will recognize any proper as
signm ent.— V. 91, p. 522, 152.
Standard Oil Co., New York.— Trade Conditions.— An of
ficial statement issued on Oct. 3 says in substance:
[For statistical tables, see under Annual Reports on a preceding page.)
Texas Company.— Official Statement to Stock Exchange.—
The official statement made to the New York Stock Exchange
in connection with the listing of 827,000,000 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 832,901,866, 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,
see the aforesaid statement.
Dividend on Increased Stock.— A quarterly dividend of
r A % was paid on Sept. 30 last on the 827,000,000 outstand
ing stock. Distributions from 1905 to June last were at the
rate of 3 % quarterly (besides some extras), but in June 1910
a 5 0 % stock dividend was also paid. See the aforesaid ap
plication to list on a subsequent page.— V. 91, p. 877, 532.
Torrington (Conn.) Co.— New President.— Director John
F. Alvord has been elected President to succeed II. H .
Skinner. V . 91, p. 715.
During the last three years world production of crude oil has been In
creasing at a rate far In excess o f Increase In consumption o f refined oil,
as the following table shows: hr Approxim ate, not In statem ent.— Ed.)
1906.
1909.
Increase.
%
W orld s product n, crude (b b ls .)_ 2 13,000,000 304,000,000 91,000,000 42 5
Production of crude, oil In U. S_.rl26,000,<i00.r 180,00 1,000 60,000,000
World's refined oil business (bbls.) 48,000,000 53,000,000 5,000,000 10.4
Trow Directory Printing & Bookbinding Co — Dividends
Resumed.— The company has declared “ a dividend” of 2 %
on the 81,000,000 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.
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
present In the United States alone there Is held in tankage by the Standard
Oil Co. and others over 115,000,000 barrels.
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.
N otwithstanding 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
becom e even small factors In the w orld’s petroleum business
In view of these conditions, the Standard Oil Co. has Inaugurated a cam
paign to Increase the world’s consum ption o f refined oil. Prices for refined
oil to-day In the United States arc lower than at any time during recent
years, and consum ption Is therefore Increasing. A broad, especially In the
Far East, there exists an unusual opportunity for Increasing consum ption
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 com petition on the part of the Shell Trading
A Transport C o., with a fall of 7 cents In the price of oil In England— Ed i
— V. 90, p. 1194
United Gas Improvement, Philadelphia.— Increase in
Earnings.— This company reports that for the six months
ended June 30 its net earnings amounted to 83,260,000, an
increase of 8126,000.
For eight months ended Aug.’ 30
sales of artificial gas show an increase of 8 % and natural gas
an increase of 2 1 .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.— The company has
notified the Boston Stock Exchange of an increase of 60,000
shares (81,500,000) of common stock, making the total
outstanding common stock 1,143,974 shares (828,599,350).
The new stock was no doubt issued in connection with the
purchase of the Wonder Worker Machinery Co., referred to
last week (p. 878):
THE CHRONICLE
966
A t $58 per share the new stock represents a market valuation of $3,480,
000. The Plant shoe factory at Jamaica Plain, It Is now reported, was
not taken over by the United Co. but by II. B. E ndlcott and Geo. E . K eith,
tw o of the largest manufacturers of men's shoes In the cou ntry.— V . 91,
p. 878, 158.
Virginia Iron, Coal & Coke Co.— Report.— For the year
ending June 30:
Year. Gross Earns
Net Earns.
Other Inc. *In t.,T a x.,& c. Bal.,DeJ.
1909-10
$3,695,225
$517,879
$41,003
$088,809
$129,927
1 9 0 8 -0 0 ... 3,000,000
108,081
71,134
580,945
311,730
* Includes amounts for depreciation, developm ent, & c.— V . 89, p. 917.
Western Union Telegraph Co.— Revised Balance Sheet.—
The Bell Telephone interests now in control have caused a
revision of the accounts and a re-valuation of the property
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 o f telegraph lines and equipment to
appraised v a lu e ________________________________________________ $ 5 ,59a,089
Llabllltv to Gold & Stock Telegraph Co. as to proceeds of sales of
securities prior to June 30 1909, under-stated In balance sheet
on that d a te--------------------------------------- ------------ ....................... — 2,219,874
Loss on re-valuation of investments _ . . . — - - - - ----------------------- 1,709,a46
Reserves required at June 30 1909 for bad and doubtful accounts,
& c., and for accrued liabilities............................................ ...............1'706,634
Reserves for depreciation on cables to date---------------------------------- 2,000,Snn
Reserves for contingencies-----------------------------------------------------------500.000
Report.— The
June 30 1910:
expert
accountant’s report for year ended
Gross e a r n in g s ________ $32,754,1111Deduct— Int. on bonds
Net, after taxes________$6,139,808
From loans & Investments
1,135,0921
$1,087,830
Dividends (3 % )________ 2,989,097
$ t 677 527
Net p r o f i t ___________ $7,274,9001Balance, surplus__________ $ 2 , 597,373
This surplus, 52,597,373, 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 M % , or $2,739,439.
2 p te
[V O L . L X X X X I .
(L o m m e r a a l T im e s .
COMM ERCIAL EPITO M E.
Friday Night, Oct. 7 1910.
The consensus still favors a conservative policy in general
business, though here and there signs arc not wanting of a
somewhat better outlook, notably in some branches of the
iron and steel trade.
The recent increase in demand for
bonds is considered an event deserving of some attention.
Stocks oj Merchandise.
Oct. 1
1910.
Sept. 1
1010.
Oct. 1
1909.
2,251,107 2.445,018 3,157,347
72,800
12,073
26,341
290,370 439,815
271,384
17,000
70,474
31,300
12,400
17,500
8,000
Hides - _________________________________ 113,007
38,383
58,973
1,359
6,500
2,000
1,220
850
982
50,500
52,700
62,000
Flour, barrels and sacks---------- -------------------
L A R D 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.
D A IL Y CLOSING P R IC E S OF L A R D FU T U R E S IN NEW YO RK .
Sal.
M on .
Vues.
Wed.
Tliurs.
Eri.
12.60
12.80
J2.80
*2.75
O ctober delivery------------12.75 12.00
N ovem ber delivery
.-1 1 .9 0 11.92
11.86
12.10
12.2o
12.15
January delivery_______ 11.04 10.90
10.88
10.85
11.10
11.00
D A IL Y CLOSING P R IC E S OF L A U D F U T U R E S IN CHICAGO.
Sat.
M on. r u es.
Wed.
Tliurs.
En.
October delivery______ .12.50 12.50
12.55
12.87)4 12.00
12.77 Lj
Novem ber delivery_____ 11.65 11.60
11.65
11.75
11.92 )4 11.77 14
January delivery_______ 10.65 10.5214 10.52 'A 10.65
10.77J4 10.65
P O R K has been dull, with supplies light. Mess $21(5)
$21 50; family $ 2 5@ $2 6; clear $ 2 2 @ $ 2 3 . Beef has been
Favorable Tax Decision.— The United States Circuit Court steady with moderate trade; mess $15 5 0 @ $ 1 6 , packet
of Appeals at Atlanta, Ga., on Oct. 3, reversing the decision $16 5 0 @ $ 1 7 , family $19 5 0 @ $ 2 0 , extra India mess $ 3 1 ©
of the lower Court rendered in January 1908 (V . 86, p. 234), $31 50. Cut meats are firm with demand irregular. Pickled
held that the company is not obliged to pay any taxes to hams, regular, 14 @ 1 5c .; pickled bellies, clear, 1 6 @ 1 8 c .;
the State of Georgia on its franchise under the law passed ribs, 16>^@ 17c. Tallow dull and steady; City 7 % c .
Stearines firm but dull; oleo 1 2 )/© ., lard 1 3 )^ @ 1 4 c . Butter
in 1902.
The com pany's contention is sustained that, the com pany having com has been only moderately active; creamery extras 2 8 j^ @ 2 9 c .
plied with the Post Roads Act of Congress of 1800. enabling it to construct Cheese firm with fair business; State, whole milk, colored or
Its lines and do business in the various States without a M ate franchise,
Eggs are quiet and firmly held,
no State franchises are necessary. The decision Is therefore Important as while, fancy, 15)4c.
being of general application.— V . 91, p. 731.
especially fine grades; Western firsts, 2 4 j^ @ 2 5 c .
.
O IL .— Linseed was weaker early but is now firm at previ
Westinghouse Machine Co.— Proposed Neiv Securities.—
The stockholders will vote Dec. 8 on increasing the indebted ous levels; City, raw, American seed, 9 7 @ 9 8 c .; boiled,
ness by the execution of bonds or other securities, secured 9 8 © 9 9 c .; Calcutta, raw, $1 03. Cottonseed quiet; winter
by mortgage or otherwise, “ and the sale, exchange or other 8 .5 0 @ 1 0 c .; summer, white, 8 .4 0 @ 1 0 c . Lard firm in keep
disposition of said s e c u r i t i e s , upon such terms as the directors ing with raw material; prime $1 0 2 @ $ 1 05; No. 1 extra
6 1 @ 6 3 c . Cocoanut firm;
Cochin 11)/© .;
Ceylon 10c.
shall deem proper.” — V . 90, p. 1559.
Olive steady, 9 0 @ 9 5 c . Cod in good demand and firmly
held, domestic 4 1 @ 4 3 c .; Newfoundland 4 4 @ 4 6 c .
C O F F E E .— Spot prices are firm, although buyers show
— Under date of Sept. 26 the Hanchett Bond Co.announces
its incorporation for the purpose of dealing in municipal little interest. Owing to recent heavy deliveries the in
bonds, including the standard grades of county, city, school terior is believed to be well supplied. Rio No. 7 l l @ l l ^ c . ,
and drainage-district issues, with offices in the New York Santos N o. 4 11J^@ 12>/© . Mild grades have also been
Life Bldg., 171 La Salle S t., Chicago. Lucius A . Trow quiet and firm, fair to good Cucutas 1 2 ^ @ 1 3 c . 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 company. William F. show irregular changes. The strength of near-by deliveries
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 primary receipts and the firmness of Brazilian markets.
bond salesmen for years, and were formerly associated with
Closing prices were as follows:
the Merchants’ Loan & Trust Co. of Chicago. W . F. Han October
8 .8 0 @ 8 .8 5 1February . _ _8.89@ 8.91 [ J u n e ------- _ .8 .9 5 @ 8 .9 0
November
. 9 0 |March _ - -8 .91@ | .92 July --------------8 .9 6 @ 8 .9 7
chett was Manager of the Boston office of the Trowbridge & December 8 8 5 ® 88.90
A p r il------------ 8 .9 2 @ 8 .9 4 A u g u s t......... 8.9 7 @ 8 .9 8
J a n u a r y ____8.87@ 8.891 May ________8.94@ 8.95|S eptem bcr _ .8 .0 7 @ 9 .0 0
Niver Co.
S U G A R .— Slight reductions in cost led to fair activity
— The position of what is termed one of the strongest in
vestment bonds of its kind is explained in a circular just early in the week. Later the tone became better. Cen
issued by the office of D. Arthur Bowman, investment bonds, trifugal, 96-degrees test, 3 .9 5 @ 4 c .; muscovado, 89-degrees
Third National Bank Building, St. Louis, Mo. The issue in test, 3 .4 5 ® 3 .5 0 c .; molasses, 89-degrees test, 3 .2 0 @ 3 .2 5 e .
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.
P E T R O L E U M .— Domestic quotations are unchanged, but
Northern R y . and which pays a shade better than 5 % —
which is declared to be a real opportunity in the present im export prices have been reduced. Demand for both ac
counts shows improvement. Refined, barrels, 7.40c.; bulk
proving bond market.
3.90c.; cases 9.40c. Naphtha firm; 73 to 76 degrees, in 100— F . R. McMullin & Co. is a new Chicago banking firm, gallon drums, 1 6 ^ c .; drums $8 50 extra. Gasoline steady;
with headquarters in The Rookery. Mr. McMullin for the 86 degrees in 100-gallon drums 18jk©.; drums $8 50 extra.
past ten years has been associated as partner with the promi Spirits of turpentine weak early, with a full recovery later;
nent brokerage firms of Leland, Clement & Curtis and Clem 7 8 @ 7 8 > © .
Rosin steady and in moderate demand early
ent, Curtis & Co., and is well known in La Salle St. circles. but later became quieter; common to good strained $6 35.
The new house will deal in bonds and other high-grade se
TO BACCO.— 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 m e r i t , 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
of labor is a hindrance. Business in the East is less satissix months hence.
factory. Large crops are anticipated in Connecticut, Penti— Bailey, Wood cc Croft, Toronto, have issued one of sylvania and Ohio, but in only the former has buying been at
their periodical sheets, printed on heavy paper, giving the all active. The poor outturn in Wisconsin, only 2 0 % binder,
capitalization, earning power and quotation record of active it is predicted, will cause the 1909 crop to sell readily.
Canadian securities.
C O P P E R .— Business has been light and prices show
— 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.
ng to tne Coppei
Clement, John F. L. Curtis, Arthur F. Lindley and Arthur 20,087,531
pounds. Lead stronger; spot 4 .4 0 @ 4 .5 0 c .
C. Groves.
Spelter quiet but steadier; spot 5 .5 0 @ 5 .0 0 c . Tin has been
— Harvey Fisk & Sons have issued an October list of of much stronger, owing to strongly controlled supplies; spot
36@ 37c.
Iron has been slow.
ferings, which will be mailed on request.
THE CHRONICLE
G o t . 8 1010. |
967
On Shipboard, Not Cleared fo r
C O T T O N .
Friday Night, October 7 1910.
T H E M O VEM EN T OF T H E CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening, the total receipts have reached
349,502 bales, against 391,418 bales last week and 242,558
bales the previous week, making the total receipts since
Sept. 1 1910 1,270,410 bales, against 1,513,128 bales
for the same period of 1909, showing a decrease since Sept. 1
1910 of 230,718 bales.
Sat.
M on .
Tues.
Wed.
Thurs.
17,277
22,659
33,980
18,912
19,911
2,512
1,695
2,864
1,366
6,963
3,460
2,449
5,171
1,132
4,969
2,563
85
20,481
____
13,685
____
2,120
2,688
17,722
____
4,662
____
5,415
2,527
Receipts at—
G a lveston ____
Port A rthur. _
Corp. Christ!, &c
New Orleans____
Mobile _________
P en sa cola ______
Jacksonville, &c.
Savannah ______
M runsw lck_____
C h a rle sto n _____
G e o rg e to w n ____
W ll nlng’t o n ____
N o r fo lk ______ . _
N ’ port News, &c
New Y o r k ______
B o s t o n _________
B altim ore______
Philadelphia____
Totals this week.
260
15,910
____
4,883
2,715
. ._
....
5,063 11,375
2,830
1,525
15,037
—
"io
—
—
45,824
62,187
____
6,680
2,981
50
6,513
4,551
F ri.
" 4 68
2,632
2,206
7,431
21,608
11,411
"2 0 2
4,541
4,224
"5 4 7
97,064
3,568
20,360
50
39,587
18,638
298
" '3 7
298
14,199
3,568
3,292
....
'’ 4
—
~20
80,656
—
—
51,280
57,789
Total.
16,134 128,903
51,766 349,502
The following shows the week’s total receipts, the total
since Sept. 1 1910, and the stocks to-night, compared with
last year:
1910.
Receipts to
October 7.
This
week.
1909.
Since Sep
1 1910.
This
week.
Since Sep
1 1909.
G alveston. 128,903
Port Arthur
____
C orp. Christ!, &c.
7,431
.New Orleans
21,608
M o b i l e _____
11,111
Pensacola . .
Jacksonville, & c.
547
Savannah . .
97,064
Brunswick . .
3,568
Charleston . _
20,360
Georgetown
50
W ilm ington
39,587
N o rfo lk _____
18,638
____
Newp’ t News, &c.
____
New York
B o s t o n _____
37
Baltim ore___
298
—
Philadelphia
629,957 159,711
547,067
6,857
7,047
17,137
784
6,550
67,357 43,833
115,198
29,622 14,066
44,315
4,010
4,010
1,351
922
1,689
308,224 99,082
440,424
24,170 11,569
65,524
54,28 1 18,178
85
100
125
87,808 34,340
112,758
45,576 30,577
86,105
294
348
1,000
1,220
455
806
1,021
14
440
1,438
626
1,633
—
182
............
3 19,502 1,276,410 418,615 1,513,128
Stock.
1910.
1909.
100,363
184,197
26,207
22,755
69,109
29,099
91,515
6,193
30,078
144,045
8,486
27,345
42,276
13,128
27,427
22,611
77,443
1,168
663
2,625
59,891
2,214
4,589
5,968
414,414
584,981
In order that comparison may be made with other years,
Receipts at—
1910.
1909.
1908.
G a lv e s to n ___
Pt.A rthur,A c,
New Orleans.
M o b ile ______
Savannah ___
Brunswick___
Charleston,Ac
W llm lng’n, &c
Norfolk
N ’ port N .. &c
All others____
128,903
7,431
882
159,711
784
43,833
14.066
99.082
11,569
18,278
34,340
30,577
348
6,027
117,217
2,402
48,633
13,901
89,396
11,249
10,579
25,454
21,716
286
2,784
T otal this wit.
349,502
418,615
343,617
21,6 8
11,41 1
9 ,064
3,568
20, 1 1
39, 87
18,638
1907.
1,276,41 ) 1,513,128 1,364,070
1906.
1005.
49,435
275
28,616
11,062
76.026
12,273
13,989
37,600
19,116
193
970
147,921
6,431
51,240
5,110
71,146
4,648
13,305
21,595
22,795
163
708
144,310
582
38,206
10,840
82,866
2,147
7,429
21,236
36,432
103
774
250.455
345,062
344,925
980,578 1,332,075 1,613,384
The exports for the week ending this evening reach a total
of 292,970 bales, of which 150,109 were to Great Britain,
43,123 to France and 99,084 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910.
Kxports
from—
Galveston___
Port Arthur..
Texas City, Ac.
New Orleans..
Mobile____
Pensacola___
Fcrnandlna . .
Savannah ___
Brunswick___
Charleston___
Wilmington__
N orfolk........ .
Newport News
New York___
Boston ..........
Baltimore___
Philadelphia. .
Portland, M e..
San Francisco.
S e a ttle __ . . .
Tacom a..........
Portland, Ore.
Pembina.........
Detroit............
Week ending Oct. 7 1910.
Exported to—
Great \
i ContiBrilaln. Fr'nce\ nent.
Total.
61,480 29,053
351 133,884
0,963
15,500
6,963
,216 21,716
.III?
25,608
F,666
21,95210,470
4,572
5,034
From Sept. 1 1910 to Oct. 7 1910.
Exported to—
Great
Britain. Franec.
200,539 62,236
13,453
33,779
2,029
Conti
nent.
105,975
6,857
1,597
22,104
Total.
428,750
6,857
15,050
56,700
2,029
42,452 19,405
7,348
43,918 105,835
4,700,
12,048
19,241
14,495
29,232
43,727
39,010
5,077
4,802
5,034
92,606 34,470
17,021
2,237 "5 0 0
6,132
56,704
1.756
12,500
1,055
183,780
19,377
15,243
7,187
' 2,690
900
’ 2,690
900
50,649
....... I
6,000
T o ta l.......... 150,16943,123 99,684 292,970
Total 1900___ 136,10836,349. 88,300200,817
6,000,
438,691 117,494
338,787 185,957
6,000
12,000
New O rlea n s..
G a lv e sto n ____
Savannah ____
Charleston____
2,007
18,030
7,550
327
5,894
355,994
1,700
18,268
2,415
8,537
Total.
555
3,535
3.000
4,600
1,150
5', 22 6
5,666
1,000
800
18,000
1,000
7,004
54,264
16,650
3,000
11,520
7,700
7,100
34,000
Total 1010. _ 53,187
Total 1 9 0 9 .. 55,466
Total 1 90 8 .. 57,657
8,371
33,211
27.926
50,088
56,483
55,475
12,252
14,321
35,066
17,340 141,238
26,321 185,802
22.460 198,584
N o r fo lk _____
New Y ork ____
Other p orts__
1,000
15,000
2.000
—
‘ 666
550
7,700
Leaving
Stock.
19,203
46,099
74,865
27,078
11,235
5,428
70,343
18,925
273,176
399,179
322,884
Speculation in cotton for future delivery has been more
active at rising prices, followed by heavy profit-taking sales
and a reaction,
the rise was traceable to some unfavorable
crop reports, a bullish interpretation put upon the October
report of the Bureau of Agriculture at Washington, the
smallness of the receipts,both atjthe ports and interior towns,
and a noticeable broadening of the speculation. Also, there
has been a sharp demand from large spot interests. Spinners
have been buying. Speculation for a rise has become more
general on the theory that the crop will prove inadequate.
Some of the dry goods reports have been rather more favor
able.
I he spot markets have advanced and at the open
ing of the week the spot sales at Liverpool were notice
ably
large. Buying
orders for futures
have
come
from the West and South, from
Wall
Street and
Europe,
and
the
highest
prices
seen
for
some
time have been reached. Believers in higher prices contend
that the crop, especially east of the Mississippi River, is so
late that an early killing frost would do serious harm.
Though a lockout had been started in Lancashire, some of
the dispatches from Liverpool insisted that it was likely to
be of short duration. On the other hand, it has latterly been
felt that, after a rise in a very short space of time of some
thing like 1(50 points, a reaction was due. It began on Tues
day afternoon under the pressure of very heavy selling for
‘ ‘long” account, supposedly by some of the most aggressive
of the bulls among what is sometimes called the WaldorfAstoria Hotel party. Short selling also contributed to
the reaction. Besides, the South is said to have latterly
offered cotton more freely. The Liverpool spot sales
fell off sharply. And there are those who doubt the possi
bility or wisdom of advancing prices permanently at this
early date in the season, just as receipts are expected to in
crease materially. Moreover, there are those who fail to
see anything particularly bullish in the last Bureau report.
The condition of 6 5 .9 % is about i y 2% better than that of a
year ago and is nearly as good as the ten-year average of
6 6 .6 % . Also the area is greater than last year’s and the largest
ever planted. A late frost would admittedly add much to the
crop. The date of killing frost will naturally have much to
do with determining how large the crop is to be. In the
nature of the case, it would seem that the movement of
the crop must shortly increase materially, no matter what
the yield may ultimately turn out to be, and with a late fall
it may prove far larger than is now generally expected.
Meantime, it is pointed out that prices are now the highest
for this time of the season for thirty years past, with trade
in a far from satisfactory condition. Later came another
advance, owing to the ending of the Lancashire lockout, a
continued light-crop movement, heavy rains in parts of the
South, some apprehensions of cold weather and further
buying by important interests and something of a stampede
among the shorts.
The rates on and off middling, as established Nov. 17 1909
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fair __.................c.1.50 on
Strict mid. fair___ 1.30 on
Middling fair.......... 1.10 on
Strict good mid___ 0.66 on
Good middling___ 0.44 on
Strict middling___ 0.22 on
Middling_______c . Basis
Strict low. mid____0.25 off
Low middling.........0.60 oil
Strict good ord____1.05 off
Good ordinary_____ 1.75 off
Strict g’d mid. tgd.0.35 on
Good mid. tinged.c Even
Strict mid. tinged..0.15 off
Middling tinged__ 0.25 off
Strict low.Mid.ting.0.60 oft
Low mid. tinged__ 1.50 off
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:
MIddling*°uplandsT................... 1 ^ 5 &
ft.Yo Yl'.to
N E W Y O R K Q U O TA TIO N S FO R 32 Y E A R S .
1910.c .......... 14.50
1909...............13.60
1908............ 9.15
1907...............11.90
1906________ 10.80
1905...............10.10
1 9 0 4 ..
..10.45
1 9 0 3 ..
. 0.60
190 2 .C ...
1901____
1900____
1899_____
1898____
1897____
1896____
1895____
. . 8.38
-.1 0 .8 8
. . 7.31
- - 5.44
- . 6.62
. . 8.00
. . 9.12
189 4 -C ..
1893____
1892____
1891____
1890____
1889____
1888____
1887____
. . 6.25
- . 8.38
. . . 8.06
. . . 8.75
..1 0 .3 8
-.1 0 .7 5
...1 0 .3 1
- . 9.44
1 8 8 6 .c .............9.44
1885________ 10.06
1884________ 10.06
1883________ 10.56
1882________ 11.38
1 8 8 1 ............ 11.75
1880...............11.25
1879.............. 10.44
^ , M A R K E T AN D SALES AT N E W Y O R K .
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.
912,179
456,8621 981,606
Ger
Other Coast
many. Foreign wise.
6,100
Spot Market
Closed.
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. W e add similar figures for
New York.
Great
Britain. France
S a tu r d a y ..
M onday___
Tuesday . .
W ednesday
Thursday .
F rid a y____
T o ta l___
Q u i e t --------------------Steady at 15 pts.adv
Steady at 20 pts.adv
Quiet _ ___________
Quiet at 5 pts. a d v .
Steadyat 35 pts.adv
Futures
Market
Closed.
Sales of Spot and Contract.
Con- Con
Spot. sum'n. tract.
F i r m ____ __
5,333
F ir m ______
14,200
Barely steady 2,924
Barely steady
Steady______
F irm ________
.................................... ......................... 22,457
Total.
5,333
10.666 24,800
2,924
f.700
2,100
l'.706
2 ,1 0 0
14 400 36.857
TIIE CHRONICLE
968
F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
to >■
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T H E V IS IB L E SU P P L Y OF COTTON to-night, us
made up by cable and telegraph, is as follows. Foreign
stocks, as well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to Thurs
day evening. But to make the total the complete figures
for to-night (Friday), we add the item of exports from the
Stock a t L o n d o n -----------------------Stock at M anchester------------------
1910.
280,000
6,000
13,000
1909.
596,000
10,000
38,000
1908.
274,000
12,000
28,000
1907.
541,000
27,000
42,000
T otal Great Britain s tock ------Stock at H am burg.................... ..
Stock at B re m e n .................. ..........
.Stock at H a v r e - - - ..........................
Stock at Marseilles— ...................
Stock a t B a r ce lo n a -------------------Stock at G enoa......... .....................
Stock at Trieste
.......................-
299,000
10,000
32,000
43,000
2,000
8,000
17,000
2,000
644,000
11,000
75,000
107,000
2,000
12,000
8,000
3,000
312,000
20,000
89,000
37,000
4,000
15,000
12,000
10,000
610,000
18,000
68,000
93,000
4,000
13,000
19,000
34,000
114,000
218,000
87,000
240,000
413,000
66,000
584, 76
35,000
73,000
270,000
441,414
223,532
67,309
862,000
34,000
747,956
34,000
66,000
109,000
584,981
321,709
50,313
499,000
50,000
607,140
27,000
64,000
217,000
521,468
368,156
54,117
859,000
80,000
367,200
41,000
61,000
361,000
510,939
237,988
64,786
T otal Continental stocks.
Total European stocks----------India cotton alloat for E urope—
Amer. cotton afloat for L u r o p c..
E gypt,B razil,& c.,ailt.for Europe.
Stock In Alexandria, E gy p t.........
Stock In B om bay, India------------Stock In U. S. p o r t s -----------------Stock in U. S. Interior tow ns-----U . S. exports to-d a y------------------
2.146.531 2.789,950 2,467,881 2,585,913
\n and other descriptions are as follows:
T otal visible s u p p ly -.
Am erican—
Liverpool stock ................
U . S. Interior stock s.
_balcs
207,000
10,000
71,000
584,276
414,414
223,532
67,309
513,000
30,000
189,000
747,956
584,981
321,709
54,313
169,000
20,000
124,000
667,140
521,468
368,156
54,117
445,000
35,000
152.000
367,200
510,939
237,988
64,786
1,577,531 2,416,959 1,923,881 1,812,913
T otal American
East Indian, Brazil, & c.—
105,000
96,000
73,000
83,000
Liverpool s tock . ............. - ............
10,000
27,000
6,000
10,000
London stock ---------------------------.
7,000
8,000
3,000
8,000
Manchester stock...................... ..
97,000
63,000
43,000
29,000
Continental stock----------------------80,000
66,000
50,000
34,000
India afloat for E urope-------------35,000
34,000
27,000 • 41,000
E gypt, Brazil, & c., afloat---------64,000
73,000
66,000
64,000
Stock In Alexandria, E gypt-----361,000
270,000
109,000
217,000
Stock in B om bay, India-----------773,000
569,000
373,000
544,000
T otal East India,
1,5 7,531 2,416,959 1,923,881 1,812,913
T otal A m e r ic a n -------T otal visible s u p p ly ..- - — -2 .1 4 8 .5 3 1 2.780 959 2,467.881 2.585.913
Middling U pland, L i v e r p o o l -----™ 8d.
7.27d.
1.96d.
6.52d.
Middling U pland, New Y o r k . . . - 14.50c.
la.5j>c.
9.00c.
11.7oc.
J’V vnt G ood Brown, L iverpool. _
12
10 H a.
8^d,
10 Hu.
Peruvian, R ough G ood , Liverpool lO.BOd.
S -M d.
. I ? ???}Broach Fine Liverpool
___7 5-16d.
0 Md. 4 13-16d. 5 15-lGd.
TlnneTClly. U ood U v e r p o o i 7 3-10d. 6 7-10d. 4 11-lGd. 5 9-lOd
Continental imports for the past week have been 25,000
bales.
.
, ,
The above figures for 1910 show an increase over last week
of 250 226 bales, a loss of 645,428 bales from 1909, a
decrease of 321,350 bales from 1908, and a decline of 438,382
bales from 1907.
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A T T H E IN T E R IO R T O W N S the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year— is set out
'n detail below.
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45 1-5
The 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.
O V E R L A N D M O V E M E N T FOR T H E W E E K AN D
SINCE SE PT. 1.— W e 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 . I in the last two years are as follows:
---------1910--------Week. Sept. 1.
___ 4,617
10,060
964
3,164
250
150
2,743
- 1,148
854
1,28 1
4,180
1,482
4,863
9,324
October 7—
Via St. L ouis.............
Via Cairo ...............
Via R ock Island
Via Louisville - ......
Via Cincinnati.........
Via Virginia points
Via other routes, &cT otal gross overland
Deduct shipments—
Overland to N. Y ., Bosto
Between Interior towns
Inland, A c., from South-
&c . 335
. . . . . . 2,107
......... 5,581
T otal to be d e d u c te d ..
___ . 8,023
...
Leaving total net overland * .......
. 6,055
-----— 1909--------Sept. 1.
Week.
3,181
8,103
3,066
2,207
412
175
1,826
3,465
827
415
l .243
3,089
1,080
5,242
31,602
10,127
24,204
3,670
2,765
11,483
1,095
148
1,064
3,061
1,037
5,023
17,927
2,307
0,121
13,075
7,820
15,083
* Including m ovem ent b y rail to Canada.
The foregoing show’s the week’s net overland movement
has been 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 t,40S bales.
-----------1010--------------------------- 1800----------Since
In Sight and Spinners'
Since
Week.
Sept. 1.
Takings.
Week.
Sept.
Receipts at ports to O ct. 7- .
340,502 1,276,410 418,615 1,513,128
7,820
15,083
Net overland to Oct. 7 .................
6,055
13,675
52,000
286,000
Southern consum ption to O ct. 7
40,000
173,000
T otal marketed - --------
395,557
58,831
Came Into sight during week
454,388
7 24,200
1,463,085
172,754
1,635,830
172,815
478,435
74.602
553,037
44,126
1,814,211
238,546
2,052,757
148,871
Movement into sight in previous years:
Week—
1908— O ct.
1907— Oct.
1906— O ct.
1905— O ct.
Bales.
10........................ .484,340
11---------------------- 37J.340
1 2 .........................436,540
13.........
450,711
Since Sept. 1—
1908— O ct. 10. ,
1907— O ct. 11___________
1900— O ct. 12___________
1905— O ct. 13....................
Bales.
.1,878,809
.1,443,756
.1,780,696
.2,145,716
Q U O TATIO N S FO R M ID D LIN G COTTON AT O T H E R
M A R K E T S :— Below arc the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
O ct . 8 1910.]
THE CHRONICLE
Closing Quotations fo r Middling Cotton on
October 7.
Sat’day.
G a lv e s to n _____ 14
New Orleans___ 13 9-10
M o b ile ________ 13 5-16
13 7-10
Charleston_____ 13 %
W ilm ington____ 13 %
N o r fo lk _______ 13 %
Maltlmorc .
13%
Philadelphia
14.00
Augusta_______ 13%
M em p his______ 13%
13%
St. Louis____Houston _ _ _ 13 11-10
Little R o ck ____ 4 3 %
Monday. Tuesday. Wed’day. 7'hursd'y. Friday.
14 1-16
13 11-10
13 5-16
1.3 11-16
13 9-10
13%
13%
13 %
14.15
13 13-16
14 %
13 %
14
13 3-16
14 %
13 %
13%
13 %
13%
13 %
14
14%
14.35
13 15-16
14%
14%
14 1-10
13%
14%
13 %
13 11-16
13 % ’
14 %
13 11-16
14
14%
14.35
13 15-16
14%
14%
14 1-16
13%
14 3-16
13 %
1311-16
13 %
13 %
13 %
14
14%
14.40
14
14 %
14%
14 3-10
13%
14%
i4 1-10
13 13 16
14
13%
14
14%
14%
14.50
1 i%
14%
14 %
14 5-10
13 %
N E W O R L E A N S O PTIO N M A R K E T . — The highest,
lowest and closing quotations for leading options in th eNew
Orleans cotton market for the past week have been as follows:
Sat’day,
Oct. 1.
October—
Range ______
C lo s in g _____
November—
Range ______
Closing. ____
December—
Range ______
Closing---------January—
Range ---------Closing______
February—
Range ---------Closing---------March,—
Range ---------Closing---------M ay—
Range ---------Closing---------July—
Range ---------Closing---------Tone—
Spot _______
O p tion s_____
Monday, Tuesday, Wed’day } Thursd’y, F riday,
Oct. 4.
Oct. 5.
Oct. 6.
Oct. 3.
Oct. 7.
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 —
13.61-.64 13.66-.80 13.80-.91 13.83-.89 — @ — — @ —
13.65-.67 13.91 — 13.91 — 13.82-.84 1 4 .0 9 -.il 14.23 13.62-.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
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
@ ~ — @ — — @ — __ 0 __ — @ —
13.85-.87 14.16-.19 14.19-.21 1 4 .l6 -.ll 14.31-.33 14.49-.51
— ® — 14.06-.32 14.19-.45 14.23-.39 14.38-.48 14.52-.70
13.95-.96 14.31-.32 14.34-.35 14.24-.25 14.46-.47 14.65-. 66
13.99-.10 14.17-.44 14.32-.57 14.34-.45 14.49-.57 14.62-.79
14.09-.10 14.43-.44 14.44-.45 14.35-.36 14.55-.56 14.75-.76
909
The thermometer has averaged 61, the highest being 72 and
the lowest 50.
Ardmore, Oklahoma.— We have had no rain the past week.
The thermometer has 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.— W e have had rain on four days
the past week, the rainfall being one inch and seventy-five
hundredths. Thermometer has averaged 76. ranging from
62 to 88.
6
'
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 9 2 .
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
thermometer 70, highest 90, lowest 50.
Memphis, Tennessee.— I t has rained on four days during
the week to the extent of four inches and seventy-three
hundredths. The thermometer has averaged 70, the highest
being 90 and the lowest 51.
Nashville, Tennessee— Rain has fallen on two days of the
week, the rainfall being two inches and forty hundredths.
The
thermometer has averaged 72, ranging from 52 to 92.
Steady. Steady. Steady. Steady.
Firm.
Steady. Steady. H ardy st Steady. Very st’ y Very st’ y
Columbus, Mississippi.— It has rained on two days during
W E A T H E R R E P O R TS B Y T E L E G R A P H .— Our ad the week, the rainfall being seventy-one hundredths of an
vices by telegraph from the South this evening denote that inch. The thermometer has ranged from 62 to 95, averag
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.— W e 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-two hundredths. during the week, the precipitation reaching one inch and
fifty hundredths. The thermometer has averaged 70,
The thermometer has averaged 73, ranging from GO to 85.
ranging from 47 to 93.
Weatherford, Texas.— It has rained on three days of the
Mobile, Alabama.— Heavy rains in the interior latter part
week, the precipitation reaching forty-two hundredths of an
inch. The thermometer has ranged from 49 to 94, aver of week caused a suspension of cotton picking. W e 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 rai itall 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 7 6 .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.
Huntsville, Texas.— We have had rain on three days of week, the rainfall being twenty-eight hundredths of an inch.
the past week, the rainfall being one inch and eighty-four The thermometer has averaged 79, ranging from 68 to 89.
Atlanta, Georgia.— Rain has fallen on three days during the
hundredths. Average thermometer 74, highest 98, low
week, the rainfall reaching thirty-six hundredths of an inch.
est 49.
Kerrville, Texas.— W e 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 week, 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 being 93 and the lowest 62.
of an inch. The thermometer has ranged from 50 to 94,
Charleston, South Carolina.— There has been rain on three
averaging 72.
Luling, Texas.— There has been rain on two days during days of the past week to the extent of fifty-seven hundredths
the week, the precipitation being one inch and twenty-one of an inch. The thermometer has averaged 78, ranging from
.
hundredths. Average thermometer 73, highest 92 and 69 to 86.
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 has 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 tlie 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.
the 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 hundredths 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.
14.10-.14 — @ — 14-42-.64 14.51-.53 14.60-.66 14.73-.88
14.18 — 14.53-.55 14.54-.56 14.45-.40 14.64-.66 14.86-.87
THE CHRONICLE
970
[V O L.LX X X X I
1910.
W O R L D 'S S U P P L Y A N D T A K IN G S OF CO TTON .
1909.
1010.
C olton Takings.
Week.
Deduct—
Visible supply O ct. 7 — ....... —
2,493,029
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
2,146,531 2,789,959
2,789,959
1,495,514
1,635,839
553,637
2 1 ,000
8 ,0 0 0
7.000
27,000
24.000
71.000
31.000
Total su p p ly________ ________ 2,397,693
2,146,531
Season.
W eek.
Season.
Visible supply Sept. 30------------- 1,890,305
Visible supply Sept. 1 --------- —
American In sight to Oct. 7 -----454,388
B om bay receipts to Oct. 6 _____
3.000
4.000
Other India ship’ts to Oct. 6 __
34.000
Alexandria receipts to Oct. 5___
12.000
Other supply to Oct. 5 .a ______
304,107 1,325,820
251.162 1,131,822
851,822
241,107 1,089,820
192.162
236,000
63,000
280,000
59,000
Of which other----------------------* Embraces receipts la Europe from Brazil, Smyrna, West Indies, &c.
IN D IA COTTON M O V E M E N T FROM A L L PO R TS.
1909.
1910.
October 6 .
Receipts at—
Since
Sept. 1.
Week.
Bombay.............................. -
3,000
Week.
Great Conti j Japan
Britain. nent. \&Chlna Total.
Bombay—
1910........
1909.........
1908.........
Calcutta—
1910____
1909.........
1908.........
M adras1910.........
1909_____
1908.........
All others—
1910.........
1909........
1908.........
Great
Britain.
----- 12,000
------ 2,000
9,000 10,000 19,000
1,000
___
___
___
1 ,66 c
Conti
nent.
51,000
17,000
38,000
..........
1,000
3,000
3,000
4,000
1.00C
—
3,000
18,000
28,000
35,000
74,000
50,000
77,000
9.000
27,000
___
1,666
3.000
4.000
5,000
1.000
2 ,00 c
6 ,00 c
4 ,00 c ;
___
—
3.000
1.000
2.000
2,000
2,000
5,000
1,000 15,000 !
___ 16,000
___
9,000
9,000
13,000 . 11,000 24,000
4,000,
4,000
3,000
4,000
5,000
17.000
26.000
30,000
1,000
___
6.000
60,000
26,000
62,000
8,000
8,000
24,000
3.000
5.000
___
___
1,000
Toted.
1.666
1 .00 c
___
....
29,000
7,000
Japan
& China.
....
—
Total all—
1910.........
1909.........
1908_____
23,000
1,000
1,000
12 ,OOo!
2 .000 ,
___
Since
Sept. 1.
Week.
Since September 1.
For the Week.
Exports
from—
Sept. 1.
8,0001
21,000
1908.
1 Since
6,000
84,000
63,000
108,000
8,000
A L E X A N D R IA R EC EIPTS A N D SH IP M E N T S.
Alexandria, Egypt,
October 5.
Receipts (cantars)—
This w e e k _______________
Since Sept. 1 ......................
1909.
1908.
260,000
535,257
195,000
402,186
218,544
Since
This
Week. Sept. 1.
Exports (bales)—
To
To
To
To
1910.
L iverp ool------------------M anchester--------------C o n tin e n t___________
Am erica........................
6,250
3,750
6,000
600
T otal exp orts................ 16,600
This
Since
Week. Sept. 1.
110 ,000
Since
This
Week. Sept. 1.
14,608
500
18,459
2,240
2 ,0 0 0
4,750
600
1.500
5.500
600
5,226
3,000
18,909
1,298
38,647 11,350
35,816
9,600
28,433
12,750
6,500
17,29/
2,100
6,000
M A N C H E S T E R M A R K E T .— Our report received by cable
to-night from Manchester states that the market is quiet for
both yarns and shirtings. Merchants are not willing to pay
present prices. W e give the prices for to-day below and leave
1910.
8%
lbs. Shirt
in g s, com m on
to fin e st.
32s C o p
T w ist.
Aug
19
26
Sept
2
9
16
23
30
Oct
7
d.
d.
10%
1 0 Ve
©
@
s. d.
@
d.
6 @10
5% (a 10
6 & 10
6 @10
6 @10
8
7%
7%
7%
7%
11% 5 7 @10 9
8 x lbs. Shirt Col’n
ings, common Mid
to finest.
Upl's
325 C op
T w ist.
d. s. d.
d.
©
11% 5 6 @10 7% 8.26 9%
8.14 9 3-16 @
11% 5 6%®10 8
10% © 11% 5
10% © 11% 5
11% 5
10 %
@
109-16© 115-16 5
10% ©115-16 5
10%
s. d.
C o l ’n
M id .
U pl's
7.97 9 5-16 ©
8.0i 9 7-16 ©
7.98 9%
@
7.82 9%
©
7.61 9%
@
|7.88 9%
@
s.
9% 4 10% @ 9
9%
10
10%
10%
10%
10%
4 11
©9
5 0 @9
5 1 @9
5 1% @9
5 2 ©0
5 3 @9
10% 6 3 % @ 9
d.
3
4
6 67
5
6.88
6.73
7%
9
6.83
6.93
7.31
7.29
9
7.27
6
6
T H E A G R IC U L T U R A L D E P A R T M E N T 'S R E P O R T
FO R SE P T. 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 o f the United States
Departm ent of Agriculture estimates, from the reports o f the correspondents
and agents of the Bureau, that the average condition of the cotton crop
on Sept. 25 was 65.9% of a normal, as com pared with 72.1 on A ug. 25 1910,
58.5 on Sept. 25 1909, 69.7 on Sept. 25 1908, and 66.6 the average o f the
past ten years on Sept. 25.
S e p t . 25 A u g . 25
1910.
1910.
S ta te s —
82
Virginia_______ ............................. 78
76
72
North Carolina. ...................... ..
73
South Carolina..................... .......... 70
71
G eorgia_______ ................ ............. 68
74
66
Florida________ ........................ .
72
.
.
............................
67
Alabama ..........
71
Mississippi_____ ............................. 63
60
L ouisiana____
69
Texas ________ ............................ 63
78
Arkansas ____ ............ .................. 68
78
Tennessee_____ ............................ 73
78
Missouri_______ ............................. 75
85
Oklahoma____ ............................. 70
95
California_____ ............................. 90
-------- S ep te m b e r 251908. 10y r . A v
1909.
78
74
71
69
71
70
68
70
70
71
71
71
72
67
70
62
70
66
53
70
67
39
55
64
52
71
62
54
70
67
68
78
72
72
70
74
55
70
69
-66.6
COTTON CONSUM PTION A N D O V E R L A N D M O VEM E N T FO R M O N TH OF S E P T E M B E R — Below we
present a synopsis of the crop movement for the month
of September for three years:
United Statesi.............................
65.9
72.1
--
--
58.5
69.7
Gross overland for Septem ber--------bales
Net overland for Septem ber------ ---------i-.
P ort receipts In Septem ber-------------------- .
Exports In Septem ber-------------------—
P ort stocks on Sept. 3 0 ------------------------ :.
Northern spinners’ takings in September
Southern consum ption In Septem ber-----Overland to Canada in Septem ber (In
cluded in net overlan d)_______________
Burnt North and South In Septem ber—
Stock at North. Interior markets Sept. 30
Came In sight during Septem ber-----------Came In sight balance season___________
Total crop ------------------------------------------------Average gross weight of bales___________
Average net weight of bales---------------------
1909.
1908.
20,524
7,620
926,008
619,453
375,820
148,609
133,000
13,549
7,120
1,037,386
655,450
485,990
91,590
225,000
24,715
18,770
934,487
584,262
459,845
92,387
168,000
3,297
3,940
1,786
9,500
IMOO
1,181,451 1 ,4 2 7 ,5 0 6 1,276,257
9 ,2 2 3 ,4 5 5 12 ,5 3 2 ,5 8 9
1 0 ,6 5 0 ,9 6 1 ,1 3 ,8 2 9 ,8 4 6
520.17i
521.51
523.57
4 9 0 .1 7
497.51
490.57
" 5'591
S H I P P I N G N E W S .— A s s h o w n o n a
e x p o r t s o f c o t t o n fr o m th e U n ite d S ta te s
r e a c h e d 2 9 2 ,9 7 6 b a le s .
T h e s h ip m e n ts
u p f r o m m a il a n d t e l e g r a p h i c r e t u r n s , a r e
p r e v io u s p a g e , th e
th e p a s t w e e k h a v e
in d e ta il, a s m a d e
as fo llo w s :
Total bales.
N E W Y O R K — T o Liverpool— SCpt. 30— B altic, 14,007; Caronla,
4,359. ______________________________________________________ 18,366
T o Manchester— Sept. 30— Cervantes, 2,579---------------------------2,579
T o Hull— Sept. 30— Marengo, 8 5 7 _____________________________
857
T o London— Sept. 30— Minnewaslca, 150---------------------------------150
T o H avre— Sept. 30— Chicago, 4.971; Elorlde, 5,471 upland
28 foreign____________________________________________________ 10 ,470
500
T o Bremen— Oct. 5— Kurfurst, 5 00 ------------------------------------------T o Antwerp— Sept. 30— Vaderland, 2,551-------------------------------- 2 ,551
800
T o Barcelona— Oct. 6— Manuel Calvo, 800-------------------------------T o Genoa— Sept. 30— Koertlgen Lulse, 1,700--------------------- ------1 700
737
T o Naples— Sept. 30— Koenlgen Luise, 737-----------------------------300
To Venice— Sept. 30— Atlanta, 200— Oct. 4— Oceania, 100-----200
T o Trieste— Oct. 4— Oceania, 200--------------------------------------------400
T o Piraeus— Sept. 30— Athinai, 400___________________________
G A LV ESTO N — T o Liverpool— Sept. 29— Bernard, 7,612— Sept. 30
— Mechanician, 16.981; William CHIT, 5,838— O ct. 5— Castano, 11,095— Oct. 6— Victorian. 22,954-------------------------------- 64,480
T o Havre— Sept. 29— St. Oswald, 10,870— Sept. 30— Masconom o, 10925— Oct. 5— H orace, 7,258-------------------------------- 20 053
T o Bremen— Sept. 29— St. Leonards, 9,447; Inkula, 14,508_. 23 955
T o Antwerp— Oct. 4— Thurland Castle, 1,950_________________
1, 950
T o Ghent— Oct. 4— Thurland Castle, 2,750___________________
2, 750
T o St. Petersburg— Sept. 29— Glenarm Head, 1,700----------------1 700
T o Narva— Sept. 29— Glenarm Head, 4,300___________________
4 ,300
T o Genoa— Sept. 30— Agncllo Clampa, 5,696_________________
5 ,696
T E X A S C IT Y — T o Liverpool— Sept. 30— Santanderlno, 6,963____ 6 ,963
N E W O R L E A N S — T o Liverpool— Oct. 7— Barbadian, 5,500; Com
m odore, 10,000--------15 ,500
T o Bremen— Oct. 7— Miltonian, 1,200_______________________
1 ,200
T o O porto— Sept. 30— Miguel M. Plnlllos, 2,850--------------------- 2 ,850
T o Barcelona— Sept. 30— Miguel M. P lnlllos, 1,016— Oct. 5
— Irene, 750______________________
1 ,766
300
T o Trieste— Oct. 5— Irene, 300------ ------------------------------------------100
To Venice— Oct. 5— Irene, 100------ ---------------------------------- - - - - SA V A N N A H — To L iverpool— Sept. 30— Earl of Douglas, 12,825
— Oct. 5— Jevlngton, 9,163---------------------------------------------------- 21 988
T o Manchester— Oct. 5— Thlm bleby, 3 ,6 8 0 . :-------------------------3 680
T o H avre— Oct. 6— Glorlana, 3 ,600___________________________ 3 600
To Bremen— Sept. 30— Glcnesk, 4,159; Indram ayo, 10298;
Voorburg, 2,000— Oct. 5— Ordunto Mende, 6,474--------------- - 20, 931
200
T o Hamburg— Sept. 30— V oorburg, 100— O ct. 6— Glorlana, 100
250
T o Gothenburg— Sept. 30— V oorburg, 250------ ------------------------C H A R L E ST O N — T o Liverpool— Sept. 30— Memphian, 6,000-------- 6 000
W IL M IN G T O N — T o Bremen— Oct. 4— Hlllmere, 14,041--------------- 14 041
T o Genoa— Oct. 1— Arlon, 3,000-------------------------- -------------------- 3 000
To Plume— Oct. 1— Arlon, 2,200----------------------------------------------- 2 200
BOSTON — T o L iverpool— Oct. 3— Cym ric, 4 ,5 7 2 .-------------------------- 4 572
149
T o St. John— Sept. 28— Calvin Austin, 149-----------------------------356
T o Yarm outh— Sept. 24— Prince George, 356-------------------------B A L T IM O R E — To Bremen— Oct. 5— Cassel, 4 ,8 0 2 --------4 802
P H IL A D E L P H IA — T o Liverpool— Sept. 30— H averford, 5 ,0 3 4 ... _5 ,034
.............
292 ,976
T otal.
L IV E R P O O L .— By cable from Liverpool we have the fol
lowing statement of the week’s sales, stocks, &c., at that port:
Sept. 16.
Sales of the week_______ bales. 24,000
Of which speculators to o k .................
Of which exporters to o k ____ 1,000
Sales, American_______________ 18,000
Actual e x p o r t ________________
4 ,0 0 0
Forwarded
- - 48,000
Total stock— E s tim a te d :._____276.000
Of which A m e r ic a n ________ 198,000
Total Imports of the w eek____ 29,000
Of which Am erican_________ 23.000
Amount afloat
..........
100 ,000
Of which American................. 74,000
Sept. 23.
30,000
J ’922
1.000
25,000
1,000
51,000
271,000
190,000
48,000
35,000
148.000
109,000
Sept. 30.
Oct. 7
6 2,000
J ’292
26,000
3,000
46,000
275,000
197,000
53,000
46,000
246,000
210,000
2,000
53,000
3,000
56,000
280,000
207,000
62,000
53,000
350,000
315,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have oeen as follows:
Saturday.
Monday.
Tuesday.
1
) Moderate
J demand.
Good
business
doing.
Good
demand.
Spot.
Market,
12:15
P. M.
Wednesday. Thursday.
Quieter.
Moderate
demand.
Friday.
Good
Inquiry,
MId.Upl’ds
7.67
7.74
7.65
7.76
7.70
7.88
Sales........
Spec.&exp.
7,000
300
20,000
12,000
6,000
8,000
8,000
Market,
4
P. M.
500
300
300
300
300
Steady at
1@3 pts.
decline.
Steady at
5@7 pts.
decline.
Steady at
3@ 6 pts.
advance.
Firm at St’dy unch.
1 St’dy unch. Quiet at
) to 2 % pts. 6 % @ 10 % .7 @ 9 % pts. to 1 % pts.
advance.
J decline.
pts. adv. I advance.
Firm at
2@4 pts.
advance.
Strong at
10 @ 12 %
pts. adv.
Steady at
Futures.
Market
\ 4% @ 7%
opened
J pts. dec.
Irregular
at 5 © 10
pts. adv.
Steady at
1% @3%
pts. adv.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices (ire given in pence and 100ths.
Oct. 1
to
Oct. 7.
Sat.
12 H
p.m.
O ctober. _
O ct.-N o v .
N ov.-D cc.
Dec.-Jan
Jan .-F cb
Fcb.-M ch.
M ch.-A pr.
Apr.-M ay.
May-Junc
Juno-July
July-A ug. ____
12H
p.m.
7
7
7
7
7
7
7
7
7
7
7
41
27
24
22%
22%
23 %
25%
25%
26%
24 %
22%
Mon.
| Tues.
12% 6 112 % 4
p.m. p.m.'p.m. p.m.
55
50 47% 41
36% 35% 34% 44
33 33 % 32 40%
32 32% 32 40%
32 32% 32% 41
33 33 % 34 42%
35 35% 36% 45
35 35%,36% 45
35% 37 37% 46
33 % 35 35% 44
31 %‘33 '33% 42
Thus.' 7 41 means 7 41-lOOd.
Wed.
Thurs.
Frl.
12^
4 12K;1 4 12 H 4
p.m . p.m. p.m.1
Ip.m. p.m . p.m.
52 5 5
41 % 4 5 %
36% 42
36% 42
37 42%
38% 44
41 46%
41 46%
41% 47
30 % 45
37 %'43
46 %
37%
34
34
35
30%
30
30
40
38
36
57
48%
45
45
46
47%
50
50
51
40
47
63%
57
53
53
53 %
55
57
57
58
56
54 lA
67
61
57
57
58
59%
61 %
61 %
62%
60%
59
O ct . 8 1910.)
THE CHRONICLE
B R EAD STU F FS.
Friday Night, Oct. 7 1910.
Flour has shown more 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 for wheat. In the meantime buyers show no
disposition to anticipate future wants on a large scale.
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
an almost uninterrupted decline. Also, reports have been
received from Argentina that the crop in that country had
been greatly damaged by drought. It has even been said
that if the acreage of Argentina has been increased 1 5 % ,
the crop, through prolonged dry weather,has been damaged
fully 2 5 % . As is well known, it is not always the acreage
which makes the crop. The weather must be favorable
It is a truism that sometimes a larger crop is raised on a
relatively small acreage with good weather than on a big
acreage with bad weather. Flax seed in Argentina is said
to have been damaged 5 0 % , and at Duluth it advanced the
other day 15 cents. Primary receipts of wheat have at
times of late been less than half those for the corresponding
days last year. Chicago stocks of contract wheat are only
5,907,000 bushels, against 11,356,000 bushels last year. The
increase in the world’s available supplies last week was some
11,000,000 bushels less than during the same week last year
a fact on which more stress was laid
than on
the
fact
that
world’s
stocks are
over
40 ,000 ,
000
bushels
larger
than
at
this
time last year.
The Liverpool market, however, has 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
season. That the market at home and abroad had become
oversold, however, is very generally conceded. Many con
servative people look upon the rise as traceable to this fact
alone. It is true that the receipts at our primary Western
markets are small, but so are the shipments. Export trade
is still dull. To-day the market was narrow and sluggish.
As a rule fluctuations were unimportant, although there was
a slightly weaker trend in the main. Holders showed an
inclination to unload, largely because cables were 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.
D A IL Y CLOSIN G P R IC E S OF W H E A T FU TU R E S IN NEW YOR K.
Sat.
No. 2 red winter, f. o. b . . ........... .. .1 0 1 %
December delivery In elevator------ 104 %
May delivery In elevator-----------------108%
M on.
101 %
104%
108%
Tues.
101 %
105
109%
Wed.
103 %
106 %
111%
Thurs. F ri.
103
102 &
106
106 %
110% 110%
D A IL Y CLOSING PR ICE S OF W H E A T FU T U R E S IN CHICAGO.
Sat.
Tues. We<l. Thurs. F ri.
December delivery In elevator____ 97
90 % 97% 98%
9 8% 98%
May delivery In elevator_______
102 % 102 % 103% 104% 104% 104%
July delivery
In elevator______
98%
_
9 8% 100% 99% 99%
971
D A IL Y C LOSIN G P R IC E S OF OATS IN NEW YORK.
..
„
,,
Sat. M on. Tues.
Wed.
Thurs.
F ri.
No 2 w h ite-------------------------3 8%
3 8%
39 40
40
40
W hite, clipped, 34 to 36 lbs. 39-42 39-42 39 %-42 39 %-42
39-42
39-42
D A IL Y CLOSIN G P R IC E S OF OATS F U T U R E S IN CHICAGO.
_
.
. „
,
Sat. M on . Tues. Wed. Thurs. F ri.
32%
32%
December delivery In elevator------ 32 %• 32% 3 3 % 33%
May delivery In elevator------------------ 3 5% 35% 3 6% 3 6 %
36
35%
The following are closing quotations:
FLOUR.
Winter, low grades___ $3 25 @ $.3 90 Kansas straights, sack.$4 9 0 @ {5 10
Winter patents.............5 01
Kansas clears, sacks__ 4 00@ 4 25
Winter straights______ 4 50
City patents................... 5 7 5@ 6 00
Winter clears___
_ 4 10
Rye flou r.......................4 0.> @ 4 40
Spring patents_________ 5 50
Graham flour................. 3 90@ 4 00
Spring straights________ 5 00
Corn meal, kiln d ried .. 3 25@ 3 30
Spring clears __ ...........
4 40
Wheat, per bushel—
Corn, per bushel—
N. Spring, No. 1................. 5 1 22
No. 2 mixed......... dev.
N. Spring, No. 2 . ............. i 20
No. 2 m ixed____f.o.b.
Red winter. No. 2...............1 02 %
No. 2 white_____f.o.b.
Hard winter. No. 2_______ 1 03 % Rye, per bushel—
Oats, per bushel, new—
Cents
No. 2 Western__f.o.b.
Standards.......................
3 9 State
u.
and Jersey...........
No. 2 white................... "
4 0 7* Barley— M alting.............
No. 3 w h ite .......................
39
Feeding, c.l.f., N. Y__
Cents.
59%
59%
Nominal
N ralnal
Nominal
N mlnal
Nominal
The statement of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
Receipts at—
Flour.
Wheat.
Com.
Oats.
Barley.
Rye.
bbls.lMlbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.48lbs. bu.56 lbs.
Chicago___
188,012
541.200 2,555,750
1,499,400
453,000
16,000
Milwaukee..
67,550
353,420
100,570
399,500
396,500
14,280
Duluth........
14,710 1,614,934
91,109
150,365
654,973
4,809
Minneapolis.
2.712.800
80,940
823,820
611,440
62,960
Toledo____
150,000
85,900
51,000
1,000
Detroit........
3,445
96,256
193,123
80,193
Cleveland . .
616
3,383
18,096
29,199
St. Louis__
52,930
502,295
254,465
345,100
68.800
4,400
Peoria------49,800
27,000
248,500
169,000
82,200
6,600
ok ni\n
Kansas City.
1.282.800
222,000
...........
Total wk. '10
Same wk. '09
Same wk. '08
377,063 7,284,088
727,584 11,551,780
679,132 12,194,829
3,850,453
3,682,938
2,025,394
3,632,577 2,356.913
3,847,082 3.490,768
5,524,352 4,020,241
110,049
214,105
248,587
Since Aug. 1
1910........ 3,272,770 74,324,652 34,507,118 55,819.705 11.903.100 1,407,915
1909........ 4,677,600 69,137,277 30,307,026 41,682,458 15,677,025 1,855,478
1908____ 4,120,6441 74,823,605 23,608,790 43,313,201 24,803,523 1,923,298
Total receipts of flour and grain at the seaboard ports for
the week ended Oct. 1 1910 follow:
...
...
...
...
...
...
...
...
Flour,
bbls.
207,050
31,104
58,288
60,987
4,358
15,470
4,999
4,607
...
"2", 270
37,491
Receipts at—
Norfolk.
Galvcsto
Mobile..
Total week 1910. 426,624
191° * 13,4
o« , qkq
Week 1909..........
498,358
SlnceJan. 1 1909.11,737.553
Wheat,
bush.
426,400
3,008
88,783
82,512
20,900
15,700
Com,
bush.
230,775
66,078
71,350
86,492
37,744
85,000
Oats,
bush.
685,350
69,900
60,033
54,521
28,478
60,000
Barley,
bush.
1,275
17,835
33,669
Rye,
bush.
3,450
1,070
2,000
----31,000
4,000
8,378
156,300
517,342
..........
........
309'126
6,968
1,185.645
746 117 1 267 408
48 747
6,520
599,980
6H
i 2e,608 30-453-879
3,465,748
395,565 37'.886:756
951,577 2.430,635
47 942
53,714
58,173,601 31,851.685 35,794.371 4,364,835 760,389
* Receipts do not Include grain passing through New Orleans for foreign Dorts
on through bills of lading.
The exports from the several seaboard ports for the week
ending Oct. 1 1910 are shown in the annexed statement:
Wheat,
Com, Flour,
Oats,
Rye, Barley, Peas,
Exports from—
New Y o r k _____
bush.
186,142
bush.
2 40,841
- 30,149
. 15,504
Brit. Nor. Am. Cols.. 6,950
Other Countries___ .............
240,705
266,876
31,308
31,356
bbls.
94,790
bush.
bush.
bush.
bush.
500
1,991
Indian corn has at times shown more strength, prin B oston_____ ________ ___
90,614
8,552
........ 16,986
42,000
26,000 44.000
cipally owing to reports of wot weather in the West and Philadelphia___
Baltimore............ 231,200
1,200 52,381
covering of shorts. Rains have occurred over most of the New Orleans___
24,000
126,000 17.000
400
4,999
belt.
Whether they have really done any harm or not is Newport News....................
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 accordingly
Total week___ 1,091,342
644,033 263,754
28,900 ......... 16,986
1,991
144,428 252,848
14,096
15.717 ____
1,790
been stronger. Also the speculative market, like that for Week 1909..........2,593,592
The destination of these exports for the week and since
wheat, had become heavily oversold from the fact that
everybody was, and for that matter is still, a bear. To July 1 1910 is as below:
---------F lour--------- --------- W, 1real------------------------ Co1m-----------day there was a downward trend. There was more pressure
Since
Since
Since
to sell, prompted by favorable weather West and satisfactory
Week
July 1
Week
July 1
Week
July 1
for week and Oct. 1.
Oct. 1.
1910.
1910.
Oct. 1.
1910.
crop reports. It was the consensus that the crop was out of Exports
since July 1 to—
bbls.
bbls.
bush.
bush.
bush.
bush.
danger and would exceed 2,950,000,000 bushels. Some
.107,168
799,834 650,411 6.887,196
125,000
923,428
.103,983
368,920 434,451 3,777,643 380,581
claim it will reach 3,000,000,000 bushels.
684,959
D A IL Y CLOSING PR ICE S OF NO. 2 M IX E D CORN IN NEW YORK.
Sat.
60
57%
60%
M on.
59%
57%
60%
Tues.
60
58%
61 %
Wed. :Thurs. F ri.
60%
60
59 %
58%
5 8% 57%
01%
61 % 60%
D A IL Y CLOSING P R IC E S OFi* CORN FU TU RE S IN CHICAGO.
Sat. M on. Tues. Wed. 5Vhurs. F ri.
49% 40%
50
50% 49%
49%
52% 52%
53
53 % 52%
52%
53%
—
—
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 beennoticeablvstrong,
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.
6,480
...........
85,449
...........
"5,6 o6
112,240
26,212
1,222,734
358,538
5,000
6,589
.263.754 1,738,999 1,091,342 10,755,288
.252,848 2,060,224 2,593,592 19,482,554
644,033
144,428
3,201,248
1,579,749
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.
North Amer.
Russian___
Argentine . .
Danublan . .
Indian........
Australian. .
Oth. countr’s
Week
Oct. 1.
Since
July 1.
Bushels.
2.560.000
5.608.000
976.000
2.968.000
992.000
1.096.000
344.000
Bushels.
20.475.000
59.088.000
14.768.000
33.840.000
15.872.000
9.384.000
2.398.000
Com.
1909.
Since
July 1.
1910.
Week
Oct. 1.
Since
July 1.
1909.
Since
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
30.389.000 544,000 3.736.000
1.517.000
49.616.000
16,000 2.480.000 5.161.000
11.664.000 4,029,000 44,493,000 39,154,000
7,872.000
51,000 8.792.000 6.503.000
|23,548,000 | I I I ” !
T o ta l___ 14544000 155,825,000jl23,089,000 4,640,000 59.501.000
62,335,000
THE CHRONICLE
972
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Com.
Wheat.
ts'nited
Kingdom. Continent.
Oct.
1 1910.
Sept. 24 1910.
Oct.
2 1909.
Oct.
3 1908
Oct.
5 1907.
Bushels.
14.904.000
18.560.000
10.880.000
15.120.000
18.360.000
Bushels.
23.512.000
21.840.000
13.840.000
16.640.000
16.320.000
United
Kingdom. Continent.
Total.
Bushels.
38.416.000
40.400.000
24.720.000
31.760.000
34.680.000
Bushels.
7.599.000
11,135,000
6.375.000
6.630.000
7.720.000
Bushels.
11,390,000
9.435.000
5.865.000
5.780.000
3.480.000
Total.
Bushels.
18.989.000
20.570.000
12.240.000
12.410.000
11.200.000
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at -lake and
seaboard ports Oct. 1 1910, was as follows:
AMERICAN GRAIN STOCKS.
Oats,
Com,
Wheat,
bush.
bush.
bush.
506.000
198.000
New Y o r k ........ ........... 1,784.000
3,000
52.000
6,000
Boston..........................
64,000
20.000
Philadelphia................
317.000
827.000
191.000
Baltimore ___________ 1,446,000
107.000
172.000
New Orleans_________
60,000
5,000
Galveston............ '-------215,000
1.543.000
863.000
Buffalo.............. - ......... 2,168.000
60,000
482.000
T o led o.................
1.670.000
203.000
157.000
D e tro it---..........................255.000
603.000
7.601.000
Chicago______________ 6,483,000
175.000
448.000
Milwaukee___________
340,000
901.000
31.000
Duluth______________ 3,252,000
2.932.000
126.000
Minneapolis---------------- 7,253,000
524.000
250.000
St. L ou is.........................2,151,000
205.000
363.000
Kansas City--------------- 4,351,000
31,000
1.828.000
Peoria.------- -------------12,000
186.000
332.000
Indianapolis__________
604,000
115.000
1.264.000
On Lakes____________ 2,008,000
202.000
372.000
On’Canal and River—
584,000
5.041.000 18,801,000
Total Oct. 1 1910.-34,968.000
4.638.000 18,860,000
Total Sept. 24 1910..32.243.000
3.367.000 12,801,000
Total Oct. 2 1909.-19,442,000
CANADIAN GRAIN STOCKS.
Oats,
Com,
Wheal,
bush.
bush.
bush.
656,000
167,000
Montreal_____________
732,000
Fort William................ 3,583,000
Port Arthur__________ 1,978,000
Other Canadian_______
604,000
Total Oct. 1 1910 . . 6,897.000
Total Sept. 24 1910-. 4,198.000
Total Oct. 2 1909.- 7,494,000
Wheat,
bush.
American .......... ......... 34,968,000
Canadian...................... 6.897,000
otalOct.
Total Sept.
Total Oct.
Total Oct
1 1910.-41.865,000
24 1910.-36,441.000
2 1909.-26,936,000
3 1908.-34,281,000
656.000
167.000
693.000
99.000
195.000
48.000
SUMMARY.
Oats,
Com,
bush.
bush.
5.041.000 18,801,000
656.000
167.000
5,208,090
4.737.000
3.415.000
3.577.000
19.457.000
19.553.000
12.996.000
7.792.000
Rye,
bush.
13,000
Barley,
bush.
53,000
1,000
20.000
16,000
26,000
15.000
7.000
45.000
152,000
4.000
70.000
797.000
510.000
11.000
699.000
128.000
353.000
319.000
458.000
2.444.000
1.836.000
3.593.000
Rye,
bush.
Barley,
bush.
39,000
39.000
40.000
47.000
Rye,
bush.
353,000
Barley,
bush.
2,444,000
39.000
353.000
319.000
458.000
795.000
2.483.000
1.882.000
3.610.000
6.090.000
T H E DRY GOODS TR AD E .
New York, Friday Night, 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
wakened, if not altogether dispelled, hopes entertained by
buyers that the price of raw material might fall to the level
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,
the 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 5 0 % . Some
time ago the market took an upward turn but failed to
maintain the advances secured. This week’s trend towards
a higher level 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
descriptions are reduced to quite restricted compass. The
mills are thus relieved from pressure of unsold supplies
and from outside competition by holders entering the market
as 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.
D OM ESTIC COTTON G OO DS.— 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
21,537
l,o33
9,232
35,664
34,552
-1909-------Since
Week. Jan. 1.
1.441
52
808
24
155,321
12,597
50 23,974
555 12,544
770 31,382
62
1,280
469 10,834
1,897 40,897
385 14,444
2,117 187,206
4,264 305,522
1910-------Since
Week. Jan. 1.
New York to Oct. 1—
6
1,569
Great Britain
Other European— ......................................
13
^16
China.............................................. ............................
1
India ................................. ........................................
M IS
W est Indies..............
183
Mexico _______
43
Central Am erica_______________________
174
South Am erica_________________
1,427
Other c o u n t r ie s ........................................
201
Total ................................... - .................
The value of these New York exports since Jan. 1 has
been $12,852,090 in 1910, against $16,516,802 in 1909.
[VOL. L X X X XI.
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 5 c. per yard have firmly established their position, good
orders for these continuing to come forward for future
deflvery. Prices on leading lines of bleached cottons which
were guaranteed up to October first remain unchanged with
t.ie 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 time past, a good business being reported at advancing
prices. Wide makes have been in chief request and 3 8 ^ inch 04 squares are now quoted at 5j^ c. per yard, against
5c. a week ago.
W O O LE N G O O D S.— The intervention of 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.
FO R E IG N D R Y G O O D S.— 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
good business in ribbons reported. The market for linens
is 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.
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
Jan. 1 1910, and for the corresponding periods of last year,
are as follows:
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O CO CM O CM
HOOON’f
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05
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05* iO O
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T H E
C H R O N IC L E
Amount.
Price.
Name.
Bate. Maturity.
818. -Cleveland, Miss____________
20,000 t/100
6
1930
896. -Cleveland, Ohio (2 Issues)_____4
137,000 100
1920
976. -Collax, Io w a __________________ 5
1920
12,000
818. -Colville, Wash________________ 5)4 dl920-1930
25.000 100
741. -Conneaut Lake, Pa.....................5
7.000 100
________
741. -Connellsvllle Sch. Dlst., P a . - . . 4)4 1922-1928
34.000 101.507
818. -Connersvllle, Ind........................... 4
20.000 100.50
1915-1924
665. .Crawford County, Ind________ 4H
1920
2,200 100
896. -Creston, O h io................- .............. 5
3.000 104.933
1915-1920
741. -Crockett Co. Com. S. D., T e x .. 5
5.000 100
dl915-1950
896. .Dancy Drainage Dlst., WIs___ 6
95.714
1922
35.000
666. . Darke County, Ohio (3 Issues) _ 4 )4
126,500 101.385
976. -Dayton, O h io ............................5
9,800
977. -Dayton, Ohio_______
4)4 1919-1922
8,600
977. -Dayton, Ohio_________ _______ 4
39.000
741. -Deaf Smith County, Tex______ 6
109.000
1911-1929
818. -Deerpark (Town) Union Free
Sch. Dlst. No. 1, N. Y .........4)4
36.000 101.463
1911-1940
741. -Donora, Pa____________________ 4 )4
22.000 100.859
<11926
896. -Duluth, M inn.____________
4 1940
50.000 100
977. -Easley, So. Caro_______________ 5
29.500 100.677
<71930-1950
818 -East Cleveland, Ohio____________
3,716 103.606
818. -East Cleveland, Ohio____________
15,860 103.79
741. -Effingham, I I I ...........................5
10.000 101.78
1915-1920
896. -Ellensburg S. D. No. 3, W ash.. 5
40.000 101
1930
818. -Elmwood Place, Ohio............
4)4
15.000 103.341
1920
666. -El Paso, T ex................................. 5
375.000
dl930-1950
896. -Enterprise Sch. Dlst., Cal_____5
15.000 lb‘o’.34 "
977. -Essex County, N. Y ____________4)4 19111940
60.000 102.29
977. -Esthervllle, Iowa_____________ 4)4
10,000
1920
742. -Euclid, Ohio_______________ _ 4)4 191219208,383
742. -Evansville, WIs____ ________
5
8.000
1930
666. .Fairmont, Minn_____ .
30.000
819_ -Falrport Sch. Dlst., Ohio______4 )4
1917-1947
45.000 104.38
819. -Fallon, Nev______ _
_
6
1915-1933
35.0001 100
819. -Fallon, Nev___________________ I 6
1915-1924
10,000/
666. .Fallsburgh S. D. No. 9, N. Y . 6
1913- 1930
4,500 106.222
819. .Farwell Ind. Sch. Dlst., Tex . . 5
19,000
dl930-1950
896_ .Flint, Mich_________ ______ 4
1915
5.000 100
742. .Florence Sch. Dlst. No. 5, Neb___
8.000
819 -Florida Mesa Irrlg. Dlst., Colo 6
‘1921-1930 1,060,000
666. -Fredonla, N. Y ________ . . .
5
1911-1920
16.500 101.375
819. -Gleason, Tenn___________________
6,000
819. .Glenvllle (Town) Union Free
Sch. Dlst. No. 2, N. Y
5
1925-1934
13.500 104.79
.742. -Grand Valley Irrlg. Dlst., Colo 6
1920- 1930 50.000 100
897. .Hamilton, M o ________ ______
5
dl915-1930
5.000 100
819. .Hamilton, Ohio_______________ 4 ) 4
11,886 101.009
1911-1920
897. .Hamilton, Ohio (6 issues).........4
265,950 *100
977. .Hamilton, T ex________________ 5
dl 925-1950
15.000
897. -Hamilton County, N. Y _______ 5
19211940
125.000 108.54
897. .Hancock County, Ohio________ 4)4
1917
16.500 103.78
897. .Hancock County, Ohio________ 4)4
1917
8.000 103.34
743. -Ilarlowton, Mont______________6
dl920-1930
15.000 100.253
4
977. .Harrisburg, Pa______________
1915
91.000 100.011
977. .Hlnkley Sch. Dlst., Cal_______ 5
2,000 100 375
743. .Hopkinsville, K y_____________ 5
15.000 t/100
820. .Ira Independent S. D., T ex__ 5
dl915-1930
3,500
820. -Iron River, M ich ....................... 5
1911-1915
10.000
743. .Jacksboro Ind. Sch. Dlst., T ex. 5
dl920-1950
5,000 100
743. .Jackson, O h io________________4
dl915-1950
13.000 100.10
978 . -Jersey Ind. Sch. Dlst., Ohio__ 4)4
1911-1930
10.000
897. -Johnston City, Tenn. (2 Issues). 5
150.000 100
820. -Kalamazoo, M ich ____________ 4
Yoi1-1915
9,800
897. -Kalamazoo S. D. No. 1, M ich.. 4)4
15,000 101.833
666. -Kansas City, Mo. (3 Issues)___ 4
1930"*
400,0001 100.025
6 6. -Kansas City, Mo. (8 Issues)----- 4)4
1930
400,000/
978. -Kansas City Sch. Dlst., Mo___ 4
1930
200,000
820. .Kenosha, WIs_________________ 5
1911-1920
45.000 102.52
820. -Lakewood, O h io _____________ 5
1911-1920
15,860 103.789
820. -Lakewood. O h io _____________ 5
1911-1920
3,716 103.606
743. -Lauderdale County, Miss______5
1922-1925
50.000 100.10
898. -Lawrence, Mass______________ 4
1911-1930
70.000 101.531
978. -Leavenworth, Kan___________ 5
1911-1920
22,691
.........
978. -Leetonla, Ohio________ _______ 5
1911-1920
13,8001 103.46
978 .Leetonla, Ohio________________ 5
1911-1920
4,500/
7 4 3 . -Leola Drainage District, WIs__ 6
1915-1924
25.000
_____
898 .Leon Co. Com. S. D. No.30,Tex. 5
1911-1950
7.500
744. .Leon, Iowa___________________ 6
5,000 100
744. -Leon, Iowa-----------------------------4)4 <11920-1930
10.000 100
O h io.. 4
1912-1916
666. .Lexington School Dlst.,
1.500 100
..............
898. .Lincoln, Neb------------------------- . .
6,600 ylOO
1916-1922
898. .London School District, M inn.. 4
3,500 100
.Longmont,
Colo..........
..............
4)4
d
1920-1925
978
165.000
1925
30.000
978 .Longmont, Colo---------------------- 5)4
1912-1921
744. -Lorain,Ohio__________________4)4
57.000 100.855
1911-1920
744. .Lorain, Ohio__________________4)4
16.000 100.804
1930
898. .Lowryvllle Sch. Dlst., So. Caro. 5
4.000 100
1912-1920
667. -Lucas County, Ohio_________ 4)4
3,774 101.649
744. -Lucas County, Ohio_________ 4)4
1911-1920
40.000 101.767
1912-1922
898. -Lucas County, Ohio_________ 4
18,151
99.311
744. -McLean Ind. Sch. Dlst., T e x ... 5
1950
5.000 100
898. -Madera School District, Cal___ 5
1911-1950
75.000 104.766
820. .Manistee, Mich___________ ____ 4)4
1914
10.000 100.91
978. -Marcy, N. Y --------------------------- 4 M 1911-1923
12,312 100
821. .Maricopa Co. S. D. No. 3, Arlz. 5
1930
6.000 102.083
821. . Marlon Co.S.D.No.24,Ore(3 Iss.) 5
<11920-1930
54,625 100.687
821 -Marshall, T e x . . . .................. ......5
dl920-1950
50.000
744. -Massillon School District, Ohio. 4
1911-1921
10.000 100
821. .Maumee, Ohio________________ 5
1911-1920
3,704 102.713
667. .Milford Ind. Sch. Dlst., T ex__ 5
dl930-1950
5.000 100
1930
821. .Mississippi___________________ 4
63.000 100
1911-1935
821. .Mohawk, N. Y ------------------------4)4
25.000 100
1913-1950
821. .Monrovia High Sch. Dlst.. Cal. 5
125.000 104.18
1930
1,100 100.20
978 .Moore School District, M on t-.. 6
898 ..Morristown, So. Dak--------------- 6 1915, 1920&’25
5.000 100
978
5
dl915-1950
744
5,000 100
5
1911-1920
821
2,393 102.095
745
4)4 1911-1915
2,500 100.28
5
1912-1916
979
5,000 102.235
899 .Newark, N. J _________________ 4
100,000 100
667 .New Bedford, Mass. (2 Issues).. 4
1911-1930
175,000), 101.397
4
667
1911-1940
100,000J
5
979
1913-1919
7,000 103.057
745 ..N ew Britain,Conn.
13,000
95
821
4
1923-1929
14,000
98.50
667
4
1956-1960
80,000
96.887
979
3
1959
2,129,000 *100
821
1920
2,000 102.84
4)4
979
5
dl915-1930
12,000 100
745
24,000
4)4
899
706,000
96.08
4)4
899
4
1927-1934
15,000 103.85
667
4
1934-1939
48,000 102.78
745 .North Cohocton & Atlanta Un.
School District, N. Y ........... 5
7,000 100
899.
15,000 102.71
4)4 1917-1922
_________
899.
22,000
4”
1923-1929
822. Ogdensburg, N. Y
12,250 100
1935
979. Oklahoma City, Okla. (5 Issues) 5
375,000
979.
4)4 1911-1919
9,000 101.40
079.
4)4 1915-1939
200,000 100.052
5
668..
1911-1930
23,000 104.875
745..
4)4 1912-1931
20,000 103.03
5
745..
dl920-1950
5,000 100
899.
5
1910-1929
10,000 100
745..
4)4 1911-1950
45,000 101.33
899..
5
dl920-1930
13,000
822..
5
1911-1930
20,000 100
746.
5
1916-1925
20,000 104.15
822.
4
1935
1,000,000
95.31
822
5
1911-1920
50,000 102.25
979
6
144,500 U00 to
1100.550
Page
( S f o v o m t lt .
PUBLISHED WEEKLY.
T e r m s o f S u b s c r i p t i o n — P a y a b le in A d v a n c e
F o r O no Y e a r ........................................................................................................... $10 00
F o r S ix M o n th s ..........................................................................................................
0 00
E u rop ea n S u b s cr ip tio n (in c lu d in g p o s t a g e )................................................. 13 00
E u rop ean S u b s crip tio n s-ix m ontits (In clu d in g p o s ta g e s .......................... 7 (50
A n n u a l S u b s crip tion in L o n d o n (in c lu d in g p o s t a g e )............................... £ 2 14 s.
S ix M on th s S u b s crip tio n in L o n d o n (in c lu d in g p o sta g e )
......... £ 1 1 1 s .
C auadian S u b s cr ip tio n (in c lu d in g p o sta g e ) .................. ..............................$11 50
S u b s c r ip tio n in c lu d e s f o l lo w in g S u p p le m e n ts —
It ■nk and Quotation (monthly)
I S tate and City (semi-annually)
Kailway and I ndustrial (quarterly) E lectric railway (3 times yearly)
R ailway earnings (monthly)
|B ankers’ Convention (yearly)
T e r m s o f A d v e r tis in g — P e r I n c h S p a c e
T r a n sie n t m atter p or in ch space (1 4 agate lin e s ) .......................................... $ 4 20
( T w o M ou th s
(S t im e s )............................... 22 00
HtnTKlin<r
Bnaineaa Cards ) Threo Months (2
(13
times).......................... 29 00
S ta n d in g B u sin ess Cards < s l x M o n th s
6 t im e s )............................... 50 00
(. T w e lv e M o n th s (52 t im e s ).............................. 87 00
CHICAGO OFFICE—P lin y Bartlett,513 M o n a d n o ck B lo c k ; TeL H a rris o n 401
L O N D O N OFFICE—E d w ard s <& S m ith , 1 D ra p e rs ’ G arden s, E. C.
1V IL M A M
P. O.1.OX0S8.
I*. D A N A C O M P A N Y , P u b l i s h e r s ,
Front. Pino nnd Depeyster Sts.,
M U N IC IP A L B O N D SA L E S IN
New Y ork.
SEPTEM BER.
The total of municipal bonds placed last month was
.117,309,058. 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 Gs of Portland, Ore.;
$1,000,000 4s of Chicago Sanitary District, 111.; $400,000 4s
and $400,000 4J^s of Kansas City, Mo.; $730,000 4^ s of
Norfolk, Va., and $400,000 4J^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
for a series of years:
1910___
1909___
1908___
1907___
1906___
1905___
1904___
1903___
1902___
1901___
Month of
Month of
For the
|
Nine Mos.
September.
September.
.$17,303,058 $226,619,786 1000_____ $4,033,899
. 23,001,771
272,389,451 1899_____ 7,201,593
. 34,531,814
243,241,117 1898_____ 6,173,665
199,722,904 1897_____ 9,272,691
. 47,947,077
153,152,345 1890_____ 3,693,457
. 8,980,418
141,021,727 1895_____ 11,423,212
. 9,825,200
. 10,694,671
197,921,657 1894_____ 8,249,347
. 8,762,079
111,745,993 1893_____ 3,885,137
. 9,179,054
117,678,855 1892_____ 6,242,952
. 14,408,056
99,324,001
For the
Nine Mos.
$97,194,441
95,026,437
83,150,559
100,387,463
56,229,416
92,253,916
90,454,836
40,974,566
63,583,834
In the following table we give a list of September loans to
the amount of $17,309,058 issued by 217 municipalities.
In the case of each loan reference is made to the page in the
“ Chronicle” where an account of the sale is given.
SEPTEMBER BOND SALES.
Page.
Name.
Bate.
.. 5
9 7 5 .-Alliance, O hio_________________
9 7 5 --Alliance. O hio_________________
.. 4
894- -Altoona, P a .------------------------- 4
8 1 6 ..
975. .
Amarillo, T ex----------------------.. 5
Attica, Ind----------------------------.. 4
895 -Auglaize County, Ohio------------.. 4H
4)4
.. 4)4
4)4
8 9 5 - . Auglaize County, Ohio............
.. 4
895. . Barberton, O hio---------- ---------4
.. 4 4
8 9 5 .. Bcllalre, Ohio---------- -------------976 _. Ilcllc Eourche, So. Dak-------------.. 5 5
.. 4
4)4
8 1 7 .. Ben Avon, Pa_______________
)4
l. 6 6
976. . Benton Co. S. D. No. 60, Minn.
1. 5
5)4
8 1 7 .. Benton Co. S. D. No. 32, W ash.
)4
895. .Bergen County, N. J......... ...........4
.. 4)4
6 6 5 .-Blllngs, M on t_________________ 5
8 9 5 .. Bingham Co. S. D. No. 40, Idaho
ho 5 5
7 4 0 .. Boise, Idaho_______________ _.. 7
895. . Boulder, Colo________________.. 5
._ 6
895. .Bradley Beach, N. J ___________
._ 5
7 4 0 .. Brady Ind. Sell. Dlst., Tex__5
817. .Bronson, Mich_________________ 4 4>*
>4
8 9 5 .. BuUalo, N. Y ________________.. 4
8 9 5 . . Buffalo, N. Y ____ ___________.. 4
8 9 5 .. Buffalo, N. Y ............ .. ............
.. 4
7 4 0 .-Buffalo, N. Y .
____
.. 4
895. . Burbank Sch. Dlst., Cal......... ...._ 5
)4
5)4
.. 4)4
. 5
.. 4)4
4 )4
.. 4)4
. 4
.. 4
.
.
1.
4)4
4)4
5
6
5
Amount.. Price.
Maturity.
1920
$3,9001, 103.64
1020
1.500J
<11930-1940
260,000 100.50
<11930-1950
10,000
1911-1920
17,000
1911-1928
35,000 103.15
1911-1022
12,000 102.175
1012-1021
25,000
99.22
1930
10,000 100
dl920-1930
50,000
1930
10,000 1/101.70
1911-1919
1,000 100
6,000 100
dl915-1930
1915-1930
400,000 101.577
dl925-1030
20,000 101.30
<(1920-1929
1,800 100
12,830 100.568
1911-1920
1925
100,000 1/99
5,000 100
1940
dl015-1950
4,000 100
1913-1935
40,000 100.955
1,000,0001
1960
1911-1930
150,000 100
1911-1915
153,810)
100,000 *100
1911-1930
1918-1921
4,000 103.775
<11915-1930
35,000
1916-1920
5,000 101.638
54,648
101,052
1911-1920
138,400
3,335
1011-1920
20,000 100
1919-1922
8,000 100.25
98.783
1912-1930 1,000,000
53,000 100.857
1911-1927
10,000
1911-1920
4,000 102.40
1017-1020
1914-1918
4,800 102.412
75,000 103.58
2,530 100.395
10,000
1916-1920
9 7 3
T H E
9 7 4
Name.
Rate.
Maturity. Amount.
Price.
Page
1015
6,000 100
746-. Portsmouth, Ohio---------------------- 4
dl920-1940
145.000 100
668 Pottsvlllc, Pa.................................4
1 5,000 101.70
---15.000 102.50
822. Prospect, Ohio-------------------------- 5
19141919
37.000 104.913
899 Putnam County, Ohio (2 Issues) 5
4H
1912 & 1913 12,140
668 Quincy, Mass---------------------668. .Quincy, Mass------------------------- 4
1912
4,100 100,034
1911
1.400
668.. .Quincy, Mass------------------------- 4
1,000
668 Quincy, Mass------------------------- 4
1911
900 Red Wing School DIst., Mlnn__ 4 Vi 191519184.000 100
1.000 100
980 .Reno School DIst. No. 129, Kan. 5
250.000 100.05
746. Riverside City Sch. DIst., C al.. 4 Vi 1920-1939
822 Roseau County, Minn___________4
1916- 1929 125,210 100
3.000 100
dl920-1940
000 Rosebud Co. S. D. No. 20, Mont 0
78.500 100
1911-1949
822 Roseville, C al................................ 5
50.500
1911-1920
980 .Rush County, Ind______________ 5
1.000 iob‘ “ “ ”
980 Rush County S. D. No. 33, Kan. 5
30.000 100
980 .Sac County, Iowa_____________ 5 Vi 1916-1921
12.000 100
822 St. Johnsville, N. Y ___________ 4.12 1915-1926
1930
250.000
746 Salt Lake City Sch. DIst., Utah. 4
5,000 loo” ”
668 San Benito Ind S. D., Tex_______5 (11915-1950
40.000
668.. San Francisco, C a l------------------- 4 Vi
1911-1920
10.000 l'oV.ie'
746. .San Lorenzo Sch. DIst., Cal-------- 5
1911-1935
49.000 101.392
980 .Scarsdale, N. Y ______________ 4 ^
1911-1927
85.000 101 933
980 Schenectady, N. Y ----------------- 4M
19207,800 107.27
0 1911900. Shawnee, Ohio----- -------------2.400 103.187
980. .Shreve, O h io --------------------------- 5 1912- 1917
250,000 101.8308
900. .Silver Bow County, Mont------------5 dl920-1930
(11920-1930
4,500
______
747 Sterling Co. Com.S.D.No.1,Tex. 5
12,000 100.516
604. Steubenville, Ohio------------------- 4 Vi (11911-1922
1911-1916
3.000 101.666
823. .Struthers, Ohio---------------------- 5
1911-1914
2.000 101.2375
980- .Struthers, Ohio---------------------- 5
5
1912-1921
823_
.- 4 Vi 1913-1925
12,500
98.40
901. _Sun Prairie, W ls------------1930
- 4 Vi
200,000 101.16
901. -Tacoma, Wash___________
d 1920-1935
_ 6
50,000 100.71
747. -Tallahatchie County, Miss.
1912-1926
_ 5
15,000 105.691
604. -Tallmadge Twp. S. D , Ohl
.. 6
d1920-1940
15,000 100.53
823. -Tarpon Springs, Fla--------(11915-1950
5
5,000 100
747.
. 6
(11925-1930
14,000 101.997
901.
.. 4
1930
70,0001 £100
98). Toledo, O h io --------------.. 5
2,910]
980 Toledo, Ohio (2 Issues) - 35,959 100
.- 4Vi 1911-1920
747. Topeka, Kans--------------.. 4 Vi
155,000 103.923
747. Trenton, N. J. (3 Issues).
.- 4M
1920
67,700 101.92
824.
.. 4 y2
1930
9,000 103.20
824.
.. 6
(11915-1940
12,000 100
931. Trenton, T en n -------------1911-1920
45,000 100
901. Union, N. J ------- -1919
5,000 109.90
747. Upper Sandusky, Ohlo... 5
(11915-1920
9,000
981 .Vail, Iowa...... ........- - - -
6,300 100.238
-- 4Vi 1911-1913
901. .Van Wert County. Ohlo-- 4 Vi 1915-1920
3,000 100
901.
1923
10,000 100
-- 4Vi
901. Wapakoneta, O h io.-.
-- 4 Vi '20,’30&’40
40,000 103.079
981 Warren, Pa (2 Issues).
1930
45,000 1/100.166
669. .Waterloo, Iowa-------K
3,000 100.20
981
55,000 100.40
: : 4 vi 1911-1924
748.
1912,’ 13&’ 14
3,500
824. .Waukesha, W ls-----------55,600 100
■- 4K
748. VVayne County, Ind----._ 5
25,000
669. W est Brownsville, Pa —
8,000
1940
748. West Brownsville, Pa —
5,100 100.20
1915
.. 5
901. Wilkes-Barre, Pa---------36,000 100
.. 6
982. .WInnemucca, Nev______
1912-1916
3,000 103.15
748. Wyandot County, Ohlo.
25,000 104
1940
-- 4Vi
825. .Wyandotte, M ich ..........
11,200 100
l- 5Vi dl9?0-1930
902.
1912-1916
27,515
.. 5
749.
luzo
10,000 £100
.. 4
826. . Zanesville, Ohio (2 Issues).
(11920-1950
20,000
902. .Zavalla County, Tex..........
Total bond sales for September 1910 (217 munici
palities covering 306 separate Issues)__________ fc$17,309,058
a 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, x Taken by
sinking fund as an investment, y And other considerations.
REVISED TOTALS FOR PREVIOUS MONTHS.
T h e fo llo w in g it e m s , in c lu d e d in o u r to ta ls fo r p r e v io u s
m o n t h s , s h o u ld b e e lim in a t e d fr o m th e s a m e .
W e g iv e th e
p a g e n u m b e r o f th e issu e o f o u r p a p e r in w h ic h th e rea so n s
f o r th e s e e lim in a t io n s m a y b e fo u n d .
p aoe
Name of Municipality.
Amount.
817 . -Calumet School District, Okla. (August list)---------------------- $10,000
897 Kalamazoo School District No. 1, Mich. (July list)------------ 15,000
979lIOmaha, Neb. (May list)---------------------------------------------------- 50,000
W e h a v e a lso le a rn e d o f th e fo llo w in g a d d itio n a l sales fo r
p r e v io u s m o n t h s .
Maturity.
Amount.
Price.
Page.
Name.
Rate.
$20,000 101.353
8 1 7 .-Caledonia Sch. DIst., Ohio------ 4 >4
10,000
817 . .
Canadlan Co. S. D. No. 76, Okla. 6 1930
15,000 100.50
1911-1920
976 -Clinton, Mass. (July)— ...... - 4
200,000 100
896 . .
Enid Sch. DIst., Okla. (July).. 5 1935
14,000 100.714
82 0..
Jackson Twp. S. D., Ind. (July) 41911-1924
Vi
5,000 103.30
1930
820 . -Klamath Falls, Ore------- ---------- 6
30,000 100
dl 915-1930
8 9 8 .-Lehl School District, Utah--------- 5
30,000 100
(11920-1930
978--Malden, M o __________________ 5
18,187
dl920-1930
8 20 . .
Manhattan, Kan________ 6
69,937
1911-1920
820 ,-Manhattan, Kan_______________ 6
3,500 100
dl922-1930
898— Matagorda Co. Com. S. D., Tex. 5
15.000
8 9 8 ..
Moss Point, Miss________ 6
10.000 100.07
82 2 ..
Northport, N. Y. (July)-4.45 1915-1924
82 2 ..
Randall County Com. S. D.
1930
15,000 100 No. 18, Tex. (M a y )............. 5
8 2 2 ..
Randall County Com. S. D.
1930
2,000 100
No. 19, Tex. (May)__________ 5
822 Randall County Com. S. D.
1930
800 100
No. 20, Tex. (May)_________ 5
900.-Red Lodge S. D. No. 1, Mont.
dl925-1930
11,000 100
(M a y )------------------------5
7,000 100.50
900-_Rlppey, Iowa (July)------------------*> dl920-l 930
50,000
900. .
5.otland County, Mo. (June)--- 6
443,731
8 2 3 .-Seattle, Wash. (11 Issues)......... 0&7
200.000 100
825 . -Williamson County, T ex............. 4 Vi (11920-1950
A ll th e a b o v e sales ( e x c e p t as in d ic a t e d ) a re fo r A u g u s t.
T h e s e a d d itio n a l A u g u s t Issues w ill m a k e th e t o ta l sales (n o t
in c lu d in g t e m p o r a r y lo a n s ) fo r th a t m o n t h $ 1 4 ,0 0 1 ,2 2 3 .
BONDS SOLD BY CANADIAN MUNICIPALITIES.
Maturity.
Rate.
Amount.
Page.
Name.
1011-1925
$3,500
.. 6
982.-Balcarres, Sask_.
5,000
6
30,000
4 Vi ' 1940
1911-1925
2,000
.. 6
12,000
4Vi 1911-1930
1911-1940
20,000
._ 5
1911-1930
20,000
6
9,620
.. 5
17,000
4Vi 1911-1930
G
3,000
1911-1030
10,000
983--I3stevan,
1911-1920
2,500
6
1950
26,000
20,000
l. 5 Vi 1911-1920
1911-1025
1,500
.. 6
1911-1920
1,650
I. 6
4,000
1911-1030
.. 6
[V O L . L X X X X I .
C H R O N IC L E
Price.
102.55
100.60
99.80
95.32
100
100.148
P a g e.
750. .
750..
750. .
750-.
750. .
903. .
8 2 7..
671. _
827-.
903 . .
8 2 7..
983..
983-
9 8 !-.
983-.
8 2 7..
750. .
750-.
750..
8 2 7..
P a ge.
Name.
Rate.
Maturity.
1950
4 Vi
1020
.- 4 Vi
1915
■- 4 Vi
._ 6
1911-1930
1911-1925
.. 6
1960
- 5
1940
- 4 Vi
. 4
- 5
1960
._ 5
1930
- 4 ^ 1925 & 1930
1911-1920
. 5
._ 6
1911-1920
t. 6
1911-1930
.. 5
1940
■- 5 lA 1911-1920
._ 5
. 4 Vi
- 4 Vi
._ 6
1011-1925
Name.
8 2 6 ..Battle Hills S. D. No.
Amount.
Price.
405,000)
12,0001 97.08
5,000.1
3,000
7,500
100,450 101.27
7,500
620,507
97.13
050,000
20,000
125,000
11,250
1,250 101.508
2,300
40,000 100
29,000
99.437
40,000
82,500
184,800
98.75
4,000
______ _________ $2,9,17,836
ITU RES FOR PREVIOUS MONTHS.
Price.
Amount.
Rate.
Maturity.
$1,500 101
1911-1920
1., 6
L
.. 6
1,200 100.916
1911-1920
1,100 101.54
- 6
1011-1920
.. 8
1,500 100.266
1911-1920
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.
N e w s It e m s .
California.— C on stitu tio n a l A m e n d m e n ts .— 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 X II 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 powerto passany Act grant
ing any charter for banking purposes, but corporations or associations may
be formed for such purposes under general laws, anil the Legislature shall
provide for the classification of cities and towns by population for the purpose
of regulating the business of banking. No corporation, association, or
Individual shall Issue or put In circulation, as money, anything but the
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 as otherwise In this Con
stitution provided, not exempt under the laws of the United States, shall
be taxed fn 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', anil further provided,
that property used for free public 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 ilde residents of this State.
The section to be r ep e a led is as follows:
SECTION 4. A mortgage, deed of trust, contract, or other obligation
by which a debt Is secured, shall, for the purposes of assessment and tax
ation, be deemed and treated as an Interest In the property affected thereby.
Except as to railroad and other quasl-publlc corporations, In case of debt
so secured, the value of the property alfcctcd by such mortgage, deed of
trust, contract, or obligation, less the value of such security, shall be
assessed and taxed to tne owner of the property and the value of such
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 be 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 be 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. If
approved by the voters a new section, to be numbered 14,
will be added to Article X III, Section 10 of Article X III
will be amended and Section 10 of Article X I will be repealed.
First: There Is hereby added to Article Thirteen a new section, to be
numbered fourteen, and to read as follows:
SECTION I f. 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
car companies operating upon railroads In this State; companies doing
express business on any railroad, steamboat, vessel or stage line In this
State; telegraph companies, telephone companies; companies engaged In the
transmission or sale of gas or electricity; Insurance companies, banks,
banking associations, savings and loan societies, and trust companies; and
taxes upon all franchises of every kind and nature, shall be entirely and
exclusively for State purposes, and shall be levied, assessed and collected 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, drawing-room-car
and palace-cai companies; all refrigerator, oil, stock, fruit and other carloaning 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 or electricity shall
annually pay to the State a tax upon their franchises, roadways, road
beds, rails, rolling 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 be
equal to the percentages hereinafter llxcd upon tho gross receipts from op
eration of such companies and each thereof within this State. Whon 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 upon a
proportion of the mileage within this State to the entire mileage over which
such business Is done, of receipts on all business passing through, Into or out
f this State.
O c t . 8 IOIO.i
T H E
C H R O N IC L E
9 7 5
I'he percentages above mentioned shall be as follows: On all railroad
companies, Including street railways, 4% ; on all sleeping car dining car assessments and providing for a system of taxation of cor
drawing-room car, palace car companies, refrigerator, oil, stock, fruit porations.
See V. 85, p. 235. The remaining three amend
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 ments to be voted on in November relate to the right
all telegraph and telephone companies, 3 'A%; on all companies’ engaged ot the people to fish, the duties of Judges of the Superior
In the transmission or sale of gas or electricity, 4% . Such taxes shall be In
lieu or all other taxes and licenses, State, county and municipal, upon the Court and the formation of new counties.
property above enumerated of such companies, except as otherwise in this
Chicago Edison Park, 111.— A n n e x a tio n E le c tio n . — A t the
section provided; provided, that nothing herein shall he construed to release
any such company from the payment of any amount agreed to be paid or general election on Nov. 8, the question of annexation will
required by law to be paid for any special privilege or franchise granted bv be submitted to the voters of the city of Chicago and the
any of the municipal authorities of this State.
The proposition was voted upon on
(b) Every Insurance company or association doing business In this State village of Edison Park.
shall annually pay to the State a tax of 1 A % upon the amount of the gross April 5, and, as stated in V. 90, p . 1376, it received the ap
premiums received upon its business done in this State, less return premiums
reinsurance in companies or associations authorized to do business proval of the voters of Chicago but failed to carry in Edison
in this .State; provided, that there shall be deducted from said 1 u % upon Park.
the gross premiums the amount of any county and municipal taxes hald bv
such companies on real estate owned by them In this State. This tax shall
New York State.— G ov ern or H u g h es R e tires fr o m O ff ic e .—
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 Un Oct. 6 Mr. Chas. E. Hughes resigned the office of Gov
estate, and except as otherwise In this section provided; provided, that when ernor and Lieutenant-Governor Horace White was inaugu
by the laws of any other State or country, any taxes, lines, penalties,
Mr. Hughes will
licenses, fees, deposits of money, or of securities, or other obligations or rated as his successor until Jan. 1 next.
prohibitions, are Imposed on insurance companies of this State doing busi assume his new duties, as a member of the United States Su
ness In such other State or country, or upon their agents therein, in excess preme Court next week.
of such taxes, lines, penalties, licenses, fees, deposits of money or of
securities or other obligations or prohibitions imposed upon insurance
Port of Coos Bay, Coos County, Ore.— S a le o f B o n d s E n
companies of such other State or country, so long as such laws continue In
I ortland papers state that an injunction was issued
force the same obligations and prohibitions of whatsoever kind may be jo in e d .
' Imposed by the Legislature upon Insurance companies of such other State
b-Y tb,e United States Court restraining the sale of
or country doing business in this State.
As stated in the “ Chron
(c) The shares of the capital stock of all banks, organized under the So°0,°00 bonds of this port district.
laws of this State, or of the United States, or of any other State and located icle of Nov. 27 1909, Judge Coke of the Circuit Court dis
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 bv law solved an injunction which had previously been issued by
in the city or town where the bank is located and not elsewhere. There County Judge Hall, restraining the Board of Commissioners
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 Irom disposing of these bonds at public sale on N o y . 9 1909.
of. I he 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
9*
11 each.1)ank 'vllircl1 ls hi liquidation shall be taken
R o n d C a l ls a n d R e d e m p t io n s .
to be its pro rata ot the actual assets of such bank. This tax shall be In
lieu of all other taxes and licenses, State, county and municipal, upon such
Denver, Colo.— Bond C a ll.— 1The following bonds are
shares of stock and upon the property of such banks, except county and
m u ^ lp a ita x e s o n real estate, and except as otherwise in this section pro- called for payment Oct. 31:
vldccl. 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
STORM SEWER BONDS.
for county taxes, of any real estate other than mortgage interests therein,
W h Canitni
DlsthNo. 1. Bonds 159 to 162 inclusive,
h X lc C
\ o yth cCStitcnfn^?M tatXCd f0 , country purposes. The banks shall be
isoutn Oapltol Hill Storm Sewer Dlst., Bond No. 50.
thArn rfn
°J ° this tax and the same shall be paid to the State by
h i ™ »bnJ t h™ the stockholders In the manner and at the time prescribed
SANITARY SEWER BONDS.
? i t llave, a llcn llI>on the shares of stock and upon any . East Side Sanitary Sewer Dlst. No. 1, Bonds Nos t fin
17 ^ in/»in&ivn
dividends declared thereon to secure the amount so paid.
Sub-Dlst. N o . 8 o f the East Side Sanitary Sewer Dlst. No 1 Bond No 70
capJta1’ reserve, surplus, undivided profits and all other
Harman Special Sanitary Sewer Dlst. No. 1, Bond No 32
'
property belong big to unincorporated banks or bankers of this State, or
Highlands Special Sanitary Sewer Dlst. No. 7. BondsNos! 63 and 64.
held by any bank located In this State which has no shares of capital stock,
or employed In this State by any branches, agencies or other representatives
IMPROVEMENT BONDS.
of any banks doing business outside of the State of California, shall be like
Cherry Creek Improvement Dlst. No. 1, Bond No 32
wise assessed and taxed to such banks or bankers by the said board of enuallEast Denver Improvement Dlst. No. 2, Bonds Nos. 209 to 211 Inclusive
zatlon, In the manner to be provided by law, and taxed at the same rate
Last Denver Improvement Dlst. No. 3, Bond No 50
iusive.
that is levied upon the shares of capital stock of incorporated banks as nroEast Denver Improvement Dlst. No. 4, Bond No." 42vldcd In the first paragraph of this subdivision. The value of said property
East Side Improvement Dlst. No. 1, Bonds Nos. 22 to 25 inclusive
shall be determined by taking the entire property invested in such business,
Evans Improvement Dlst., Bond No. 39.
together with all the reserve, surplus and undivided profits, at their ful
Highlands Improvement Dlst. No. 1, Bond No. 62.
cash value, and deducting therefrom the value as assessed for countv taxes
North Side Improvement Dlst. No. 1, Bond No. 65.
of any real estate other than mortgage Interests therein, owned by such bank
North Side Improvement Dlst. No. 2, Bond No. 27.
and taxed for county purposes. Such taxes shall be in lieu of all other taxes
North Side Improvement Dlst. No. 3, Bonds Nos. 63 to 65 Inclusive
anil licenses, State, county and municipal, upon the property of the banks
North Side Improvement Dlst. No. 4, Bond No 16.
and bankers mentioned in this paragraph, except county L d municipal
South Broadway Improvement Dlst. No. 2, Bonds Nos. 64 and 65
taxes on real estate and except as otherwise In this section provided
It
South Side Improvement Dlst. No. 1, Bond No. 74.
is the intention of this paragraph that all moneyed capital and property of
Thirteenth St Improvement Dlst. No. 1, Bonds Nos. 30 and 31.
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
PAVING BONDS.
paragraph of this subdivision. In determining the value of the moneyed
Alley Paving Dlst. No. 7, Bond No. 14.
capital and property ot the banks and bankers mentioned in this subdi
Alley Paving Dlst. No. 14, Bond No. 10.
vision, the said State board of equalization shall Include and assess to such
banks all property and everything of value owned or held by them which a „ y » th„e /.equest. of..thc Holers of any of the above bonds recelvedTIO
go to make up the value of the capital stock of such banks and bankers. 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.
If the same were Incorporated and had shares of capital stock.
The word ■•banks” as used In this subdivision shall include banking asso
c atlons, savings and loan societies and trust companies, but shall not In
dude building and loan associations.
„A(d,D^ i l, franchlse?t,lan those expressly provided for In this sccB o n d P r o p o s a l s a n d N e g o t ia t io n s this week
®*1• aI „,3iej* f nS?c d ,a1 th,elr actual cash value In the manner to be provided
lflctAd
tbA^Annht
»V
iCK
taXediat,the
each of
year,
the taxes colIccted tliucon shall be exclusivelyrate
for ot
the1%
benefit
the and
State.
e-ether with n i nth/r X??tUes froin thc taxes Provided for In this section, toAlliance, Stark County, O h io— B o n d S a le .— On Sept. 7
L h f a l i M h i u ^ S 1? revenues, there shall be first set apart the moneys
thebState Unlversdhv St^ e,v!° the support of thc public-school system and the S3,900 5% 10-year street-improvement (city's portion)
anv tfme (leemed^in^liffiV? tl.lc. cvent that thc above-named revenues are at
fnH 1 Z l t h e a n v e n 1 to me?.t the aunual expenditures of the State, bonds and the 81,500 4% 10-year storm sewer bonds described
mav henfevied
expenditures for educational purposes, there
may be levied. In the manner to be provided by law, a tax for State nur- in V. 91, p. 600, were awarded to the Alliance Bank Co. at
in
statc» including the classes of property 103.64 and cost of bonds.
enumerated in this section, sufficient to meet the deficiency. All property
Ambridge, Beaver County, Pa.— B o n d S a le . — The $125,000
LSmanner
! l i ? !provided
“s a,',bAna,d
ottothls
shall beanil
subject
to
taxation, in thc
by law.
navaction
the nrlncln*il
interest
4 /^ % general permanent improvement bonds offered on
of any bonded indebtedness created and bitsfandlng Ey any city X
and Oct. 3 and described in V. 91, p. 894, were awarded to
county, county, town, township or district, before the adontlon of this sertlon, the taxes so paid for principal and Interest on such honied Indebtedness Lawrence Barnum & Co. of Philadelphia at 100.40 and
shall be deducted from the total amount paid In taxes! or State nurnnses
(t) All the provisions of this section shal be self cxecuUng and the accrued interest. The following bids were received:
Legislature shall pass all laws necessary to carry this sectionFntn effept
L. Barnum & Co., P h lla ...$125,5001 West. Reserve Inv. Co.,Pltts$125,332
and shall provide for a valuation at assessment of the property enumerated Washington Inv. Co., Pitts. 125,350|Otis & Hough. Cleveland.. 125,300
Maturity $5,000 yearly on Jan. 1 from 1914 to 1938 Inclusive.
Etffcn
in this section and shall prescribe the duties of the State lUanl of Equali
zation and any other officers In connection with the administration thereof.
Americus, Ga.— B o n d E le c tio n P r o p o s e d . — Reports state
The rates of taxation fixed In this section shall remain in force until chana-ed
by the Legislature, three-fourths of all the members elected to each of tl'ic that this city proposes to call an election to vote on the ques
two Houses voting in favor thereof. The taxes herein provided for shall tion of issuing $65,000 improvement bonds.
become a lien on the first Monday In March of each year after thc adoption
of this section, and shall become due and payable on the first Monday In
Anaheim School District, Orange County, Cal.— B o n d
July thereafter. The gross receipts and gross premiums herein mentioned
shall be computed for tue near ending the 31st day of December prior to the E le c tio n P r o p o s e d — Reports state that the School Trustees
levy of such taxes and the value of any property mentioned herein shall bo have been petitioned to call an election to vote on the ques
as of the first Monday In March. Nothing herein contained shall
alrcct any tax levied or assessed prior to the adoption of tills section, and tion of issuing school-building and playground bonds.
all laws In relation to such taxes In force at thc time of thc adoption of this
Atlantic County (P. O. May’s Landing), N. J. B o n d S a le .
section shall remain In force until changed by the Legislature. Until the
year 1918 the State shall reimburse San llernardino and Placer counties
Ihe $40,000 4% 7-10-year (serial) registered public
rqr the net loss In county revenue occasioned by the withdrawal of railroad building-improvement bonds offered on Oct. 5 (V. 91, p. 894),
have been as follows:
t,
State purposes only,
nf tihi i n J i = i hie<ir enai’"J Klven above were added at special session
of the Legislature which convened Oct. 3 1910. See V. 91 , n. 893 .
In anv court ^vainsf1
1L,c\’cr lssuc ln any 8ult- action or proceeding
or enToln the coiWMnn i,tate or a^alnst any officer thereof to prevent
section until sSSh tlx
,any tax leXled l'ader the Provisions of this
act on mav be malntMn«i *
been actually paid; but after such payment
manner and at
t0 recovcr any tax Illegally collected In such
ma^AAAwa n «AAf?AA
me.as. may novv or hereafter be provided by law.
•mondSd
a.'lol°ow "“ Cle ™ MC0“ 01 “ la
p r?S °«^
were disposed of as follows: $20,000 awarded to the Egg
Harbor Commercial Bank of Egg Harbor City at 101.125
and $20,000 sold to thc Atlantic Safe Deposit & Trust Co. of
Atlantic City at-100.50. The bonds are dated Nov. 1 1910.^
B on d s A u th o r iz e d . — The issuance of $60,000 bridge-re
building bonds has been authorized, according to local papers.
Attica, Fountain County, Ind.— B on d s O ffered by B a n k e r s .
— The J . F. Wild & Co. State Bank of Indianapolis is offering
to investors $17,000 4% refunding bonds.
SeCtIon 1611 01 Art,cle Eleven of said Constitution Is hereby
Denomination $500. Date Aug. 15 1910. Imerest May 15 and Nov. 15
at the City Treasurer's office. Maturity $1,500 yearly cn Nov. 15 from
1911 to 1916 Inclusive and $2,000 yearly on Nov. 15 from 1917 to 1920
inclusive. The bonds are tax-exempt. Total bonded debt. Including this
Issue, $20,000. Assessed valuation $1,277,075. Real valuation $3,000,-
The last two amendments mentioned above are somewhat
similar to those defeated on Nov. 3 1908, relating to mortgage
Auglaize County (P. O. Wapakoneta), Ohio.—Bids.—The
following bids were received on Sept. 29 for the $35,000
township, or district ln which It Is situated, in the manner prescribed by
repealed
9 7 6
T H E
C H R O N IC L E
refunding and $12,000 tuberculosis hospital (county’s por
tion) 4 A % bonds, the sale of which was reported last week’
$35,000
Bonds.
Atlas National Bank, Cincinnati---------- ----------- _$36,102 50
Davton Savings & Trust Co., Dayton----- --------- -----------Tilbtspn & Wolcott Co., C leveland-,.................. 36,092 50
Seasongood & Mayer, Cincinnati---------------------- 36,088 50
Well, Both & Co., Cincinnati------------------------- 36,061 50
First National Bank, Cleveland_______________ 36,056 50
Provident Saving's & Trust Co., Cincinnati------- 36,030 75
Stacy & Braun, Toledo----------------------------------- 36,014 45
Cleveland Savings & Trust Co., Cleveland______ 35,997 50
C. E. Denison & Co.. Cleveland______________ 35,970 00
Otis & Hough, Cleveland------------------------------- 35,965 00
Citizens’ Safe Deposit & Trust Co., Toledo----- 35,967 50
Hayden, Miller & Co., Cleveland---------------------- 35,940 00
Farson, Son & Co., Chicago,
----------------------- 35,785 00
Rudolph Kleybolte Co., Inc., Chicago--------------- 35,546 00
Thos. J. Bolger Co., Chicago--------------------------- 35,252 50
$12,000
Bonds.
$12,2-10
12,261
12,213
12,241
12,247
12,237
12,222
12,221
12,211
12,212
12,195
12,202
12,204
12,138
12,151
12,080
15
00
00
80
00
25
00
52
20
50
00
85
00
00
20
40
[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. Dato
Nov. 15 1910. Interest (rate not to exceed 5%) Jan. I and July 1 in
Red Lodge. Maturity Nov. 15 1930. The bonds are tax-exempt. Certifled check for $1,000, made payable to the County Clerk, is required.
Carmen, Alfalfa County, Okla.— B on d s N o t S o ld . — 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.— B on d s O ffered by
B a n k e r s . — In their circular for October the J. F. Wild & Co.
State Bank of Indianapolis is offering to investors $3,335 80
4 H % gravel road bonds of Eel Township.
— B on d s
Denomlnatlan $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 .— B o n d O ffe r in g . —
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.— B o n d O ffe r in g .—
Proposals will be received until Oct. 12 by the Board of
Trustees, E. Kent, M. II. 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, 111.— West Park District.— B o n d E le c tio n .— A n
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.— B o n d S a le . — The J. F.
Wild & Co. State Bank of Indianapolis has purchased $10,000
i y 2% refunding bonds.
Bell County Common School Districts N os.3 and 42,Tex.
R e g is t e r e d — 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.— B o n d O fferin g — Pro
posals will be received until 12 m. Oct. 31 by H. A. Sickles,
Village Clerk, for $2,500 5% street-crossing bonds.
Reports state that proposals will be received until Oct. 31
for $21,000 sewerage bonds.
Belief ontaine School District (P. O. Belief ontaine), Ohio.
— B o n d O ffe r in g . — Proposals will be received until 12 m.
Oct 31 bv L B. Stough, Clerk Board of Education, for the
'
...................................
“
$35,000
4)^ % school-building
bonds voted (V. 91,
p 740)
on Aug. 29.
Denomination $500. Date Oct. t 1910. Interest semi-annual. Matur
ity $500 each six months from Feb. 1 1911 to Aug. 1 1920 Inclusive. Iotal
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.
— B o n d S a le . — On Sept. 26 the $75,000 5% bonds described
in V. 91, p. 741, were awarded, it is stated, to Barroll & Co.
of San Francisco at 103.58.
Clay County (P. O. Moorehead), Minn.— B on d s P r o p o s e d .
— This county made application Aug. 30 to the State of
$50,000 5% 10-20-year (optional) water-works-construction Minnesota for a loan of $10,000 at 4% for drainage purposes.
bonds offered on Sept. 20 and described in V. 91, p. 740, were
Clayton School District No. 114 (P. O. Clayton), Adams
awarded, it is reported, to S. A. Kean & Co. of Chicago.
County, 111.— B on d s O ffered by B a n k e r s . — An issue of $10,000
Belmar, Monmouth County, N. J.— B o n d S a le . — On Oct. 4 5% bonds is being offered to investors by the First National
the $18,000 sewer and $15,000 building 5% 30-year gold Bank of Chicago.
coupon bonds described in V. 91, p. 817, were awarded to
Denomination $1,000. Date July 1 1910. Interest annual. Maturity
yearly on July 1 from 1916 to 1020 Inclusive. Total bonded debt,
R. M. Grant & Co. of New York City at 100.17 and accrued $2,000
Issue. Assessed valuationfor 1909, $204,931. Real value (estimated),
interest. There were no other bidders. The $18,000 issue this
$1,024,655.
is dated Jan. 1 1911 and the $15,000 issue Oct. 1 1909.
Clinton, Mass.— S a l e s . — The $14,000 4% 1-10-year
Benton County School District No. 60 fP. O. St. Cloud (serial) notes, bids for which were rejected on June 23
R. R. No. 6), Minn.— B o n d S a le . — An issue of $1,000 6% (V. 90, p. 1692), were sold on Oct. 1 toE . H. Rollins & Sons of
school-building bonds was awarded to the Benton County Boston for $14,057 50 (100.41) and accrued interest. De
State Bank of Sauk Rapids at par on Sept. 28. There were nomination $1,400. Date July 11910. Interest semi-annual.
On July 1 W. I. Jenkins of Clinton was awarded the $15,000
no other bidders.
Denominations $100 and $150. Interest annually on Oct. 1. Maturity 4% coupon school bonds, bids for which were rejected
$100 yearly from 1911 to 1917 inclusive and $150 In the years 1918a»d 1919. (V. 90, p. 1692) on June 23. The price paid was 100.50.
Bloomingdale, Essex County, N. Y . — B o n d S a le . — On
Clyde, Sandusky County, Ohio.— B o n d O ffe r in g . — Propos
Oct. 3 the $15,000 5-29-year (serial) coupon or registered als will be received until 12 m. Oct. 24 by H. M. Bacon,
water-works bonds described in V. 91, p. 895, were awarded Village Clerk, for the following bonds:
to O’Connor & Kahler of New York City at 100.13 and ac $3,300 4 '
water-works-extension bonds. Denomination $500, except
one bond of $300. Maturity $500 yearly on Sept. 1 from 1918
crued interest for 4.65s.
to 1923 Inclusive and $300 Sept. 1 1924.
and B i r d s e y e streets Improvement-assessment bonds.
Bremen, Fairfield County, Ohio.— B o n d O f f e r i n g — Pro 12,800 5 % Amanda
Denomination $1,280. Maturity $1,280 each year on Sept. 1
posals will be received until 12 m. Oct. 31 by C. E. Thomp
from 1911 to 1920 Inclusive.
,
.. .
Amanda and Birdseye streets Improvement (village s port ion)
son, Village Clerk, for $1,050 6% sewer district No. I (vil 2,700 5% bonds.
Denomination $270. Maturity $..70 ytaily on
Sept. 1 from 1911 to 1920 inclusive.
lage’s portion) bonds.
Authority, Section 3991, Revised Statutes. Denomination $500. Date
Sept 11910. Interest semi-annual. Maturity $500 each six months from
March 1 1919 to Sept, l 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.— B o n d S a le . — The
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. Certllled check
for 10% of bonds bid for, payable to the Treasurer, Is required. Purchaser
to pay accrued interest.
Date Sent. 1 1910. Interest semi-annual. Certllled check on a Clyde
bank for $300, payable to the \ lllage Treasurer, Is required. Bids must be
unconditional. Purchaser to pay accrued Interest.
Coffeyville, Montgomery County, Kan .— B o n d E le c tio n
P r o p o s e d . — An election will be held, it is stated, to vote on
Bridgeton, Cumberlain County, N. J.— B o n d O ffe r in g .—
Proposals will be received until 7 p. m. Oct. 18 by Barton F.
Sharp, City Comptroller, for $50,000 4 j^ % sewage-disposalplant bonds.
the question of issuing armory bonds.
Colfax, Jasper County, Iow a.— B on d s O ffered by B a n k e r s.
— The First National Bank of Chicago is offering for sale
$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.
_ _“ , }910. Interest semi-annual. Total
Denomination $1,000. Date May
bonded Indebtedness S 15.500. i'axable value $316,000. Actual value
(estimated), $1,267,000.
Columbia, Boone County, Mo.— B on d s V oted B o n d O ffer -
Brunswick, Frederick County, Md.— B o n d S a le . — On i n q — The election held Sept. 27 resulted in favor of the pro
Oct. 4 the $5,000 4 A % 10-30-year (optional) municipal position to issue the $125,000 j A % water and light-plantwater bonds, described in V. 91, p. 817, were awarded to construction bonds mentioned in V. 91, p. 741. lhe vote
the Baltimore & Ohio RR. Co. at par and accrued interest.
was 708 “ for” to 264 “ against.” Proposals for these bonds
be received until 7:30 p. m. Nov. j,
Buffalo, N. Y . — B o n d s S old to S in k in g F u n d in S ep tem b er. will
Denomination $1,000. Date Jan. 2 1911. Interest semi-annual. , Ma
— The following monthly local work 4% bonds were sold in turity Jan. 2 1931, subject to call after Jan. 2 1916. Certllled check for
$1,250 Is required. John S. Blcknell Is City Clerk.
September to the city’s sinking funds at par:
Cook County (P. O. Chicago), 111— B on d E le c tio n .— I t is
$8,953 96 bonds dated Aug. 15 1910 and due Aug. 15 1911.
7,405 66 bonds dated Sept. 15 1910 and due Sept. 15 1911.
stated that on Nov. 8 the question of issuing $3,000,000 4%
B o n d s A u th o r iz e d . — Resolutions have been adopted pro gold hospital reconstruction and extension bonds will be
viding for the issuance of the following 4% bonds:
voted upon.
$100,000 refunding railroad-aid bonds. Date Dec. 15 1910. Maturity
Crockett County Common School District No. 1, Tex.—
$5,000 yearly on Dec. 15 from 1911 to 1930 Inclusive.
100,000 refunding water bonds. Date Jan. 1 1911. Maturity $5,000 B on d s A ivarded in P a r t .— On Oct. 1 $5,000 more of the
yearly on Jan. 1 from 1912 to 1931 Inclusive.
Interest semi-annually at the City Comptroller’s office or at the Gallatin $25,000 5% 5-40-year (optional) bonds registered on Aug. 12
National Bank In New York City, to suit purchaser.
by the State Comptroller (V. 91, p. 477) were purchased by
Burnet County (P. O. Burnet), Tex.— B o n d E le c tio n . — An the State School Fund at par and interest. This makes a
election will be held Oct. 22, according to reports, to vote total of $10,000 bonds of this issue sold to the State to date.
on a proposition to issue $18,000 bonds for the erection of See V. 91, p. 741.
Cuyahoga County (P. O. Cleveland), O h io .— B o n d O ffer
two bridges across the Colorado River.
Carbon County (P. O. Red Lodge), Mont.— B o n d O fferin g . i n g .— Proposals will be received until 11 a. m. Oct. 20 by
—Additional details are at hand relative to the offering on the Board of County Commissioners, John F. Goldenbogen,
O o t . 8 1 9 1 0 .]
T H E
9 7 7
C H R O N IC L E
Estherville, Emmet County, Iow a .— B on d s O ffered b y
First National Bank of Chicago is offering
Authority Chapter 18, Division 2, Title 3, Part First, of the General Code at 102 and interest $10,000 4 ^ % 10-year refunding school
of Ohio. Denomination $1,000. Date Nov. 1 1910. Interest April 1
and Oct. 1 at the County Treasurer’s office in Cleveland. Maturity $1,000 bonds.
Clerk, for $59,000 4% coupon bonds, to improve Parma and
Royal ton Center Ridge Road No. 3.
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 certilled 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.— B o n d O ffer in g . — Proposals will be received
until 12 m. Oct. 26, according to local papers, for the follow
ing bonds voted on April 5 (V. 90, p. 1693): $100,000 for
water-works improvements, $100,000 for sanitary sewers,
$100,000 for public schools and $350,000 for street improve
ments. The street bonds carry 4J4% interest and mature
June 1 1950 and the other issues carry 4% interest and ma
ture part yearly on June 1 from 1911 to 1950 inclusive. The
bonds are dated June 1 1910.
Darlington, Darlington County, So. Car.— B o n d s V o te d .—
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.— B o n d O ffe r in g . — 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,
p. 818. Proposals will be received until 12 a. m. on that
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. Certilled
check for $100, payable to the Clerk, is required. No bonded debt at
present. Floating debt $380. Assessed valuation $45,000.
Dayton, Ohio.— Bo?ul S a le s . — 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
follows:
$2,000 5% storm-water-sewer bonds dated Dec. 1 1909 and due Dec. 1 1911.
1.000 5% Keowce St. bridge bonds dated Jan. 1 1910 and due Jan. 1 1911.
1.000 5% garbage-equipment bonds dated Feb. 15 1910 and due Feb. 15
1911.
5,200 5% storm-water-sewer bonds dated April 1 1910 and due on April 1
as follows: $1,200 In 1912 and $1,000 yearly from 1913 to 1910
Inclusive.
20.000 4% street-repair bonds dated April 1 1910 and due $5,000 on April 1
In each of the years i912, 1914,1910 and 1918.
19.000 4% street-improvement bonds dated April 1 1910 ami due $5,000
on April 1 In 1912, In 1913 and in 1914,and $2,000 on April 1 in
1915 and In 1910.
8,600 4 lA % pollee-auto-vehlele bonds dated Sept. 1 1910 and due on
Sept. 1 as follows. $1,000 in 1919, $2,000 in 1920 and In 1921
and $3,000 In 1922.
Interest on the above bonds is payable semi-annually.
Delaware County (P. O. Delaware), Ohio.— B o n d O fferin g .
—The Board of Commissioners, J. L. Edwards, P. H. Perry
and W. D. Sherwood, will offer for sale at 1 p. m. Oct. 24 an
issue of $77,860 4 J^% road-improvement bonds.
Authority, Sections 0949-6950, General Code, In compliance with Sec
tions 2294-2295, General Code. Denominations, 00 bonds of $1,000 each
and 20 bonds of $893 each. Date Sept. I 1910. Interest semi-annually
at the County Treasurer’s office. Maturity $3,893 each six months from
March 1 1911 to Sept. I 1920 Inclusive. Certilled check on a bank in Dela
ware County for $2,000, payable to \V. H. llodurtha, County Auditor, Is
required. '
Dillon, Marion County, So. Car.— B o n d s V o te d . — The
B a n k e r s . — The
Denomination $1,000. Date May 2 1910. Interest semi-annual. Total
Indebtedness, Including this issue, $30,000. Assessed valuation for 1909
$777,608. Actual value (estimated) $3,110,672.
Euclid Township School District, Cuyahoga County, Ohio.
Oct. 1 the $30,000 4)^ % 1-30-year (serial)
coupon school-building bonds described in V. 91, p. 819,
were awarded to Stacy & Braun of Toledo at 104.0325 and
accrued interest. The following bids were also received:
— B on d S a le . — On
Hayden, Miller & Co., Cleveland____________________________ $31,100 00
31,139 10
Tillotson & Wolcott, Cleveland_____________________________
Otis & Hough, Cleveland___________________________________
31,056 00
Seasongood & Mayer, Cincinnati__________________________
30,925 85
Franklin, Franklin County, Neb .— B o n d E le c tio n .— 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 .— B o n d S a le .—
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, 111.— B o n d O ffe r in g .—
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 .— B o n d s A w a rd ed in
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.
B on d O ffe r in g . — Proposals for the remaining $66,000 4%
registered sewer-construction bonds will be received until
2 p. m. Oct. 11.
Grayson County Common School District No. 45, Tex.—
B o n d S a le . — On Oct. 1 the $2,500 bonds (the unsold portion
of the issue of $5,000 5% 5-40-year (optional) bonds regis
tered by the State Comptroller on June 2 ,V . 91, p. 52, were
sold to the State School Fund at par and interest. The
award of $2,500 bonds to the State was mentioned in V. 91,
p. 416.
Greenville School District (P. O. Greenville), Darke
County, Ohio.— B on d s V o te d . — An election held Sept. 27 re
sulted, we are advised, in favor of a proposition to issue
$20,000 school-building bonds.
Groesbeck Independent School District (P. O. Groesbeck),
Limestone County, Tex.— B on d s R e g is ter e d . — An issue of
$4,000 5% 5-40-year (optional) bonds was registered by the
State Comptroller on Sept. 27.
Hamilton, Hamilton County, T ex.— B o n d S a le . — O’Connor
& Kahler of Chicago have been awarded $15,000 5% 15-40year (optional) water-works-construction bonds.
P a r t. — Of
$500. Date Feb. 10 1910. Interest annually In Dallas
issuance of $15,000 electric-light-plant bonds was authorized or Denomination
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. Kenton), Ohio.— B o n d S a le .— On
Dolores, Montezuma County, Colo .— B o n d s N o t S o ld .—
Up to Sept. 26 no award had yet been made of the $60,000 Oct. 3 the $20,000 4J^% 1-5-year (serial) bridge-construction
bonds offered (V. 91, p. 666) on Sept. 12.
bonds described in V. 91, p.897, were awarded to the First
Doniphan School District (P. O. Doniphan), Hall County, National Bank of Cleveland at 100.801 and accrued interest.
Neb.— B on d s to be Issu ed S h o r tly . — A letter received by us The following bids were received:
Nat. Bank, C lo v e ...$20,100 25 C.E.Denison & Co..Cleve.$20.122 25.
on Oct. 3 stated that the $15,000 5% high-school-building First
Barto, Scott & Co.,CoIum. 20,143 00 Field,Longstreth&Co.,Cln. 20,117 00
bonds voted on Aug. 18 (V. 91, p. 540) would be sold in New First Nat. Bk.,CoIum 20,143 00 Otis & Hough, Cleveland. 20,112 00
Tillotson & Wolcott,Cleve. 20,140 38 Well, Roth & Co.. Cln___ 20,112 00
about three months.
Stacy & Braun, Toledo— 20,136 80 Western German Bk., Cln. 20,111 11
& Mayer, Cln_ 20,130 00 Farson, Son & Co., Chic. . 20,095 00
Du Page County School District No. 46 (0. O. Elmhurst), Seasongood
Hayden,Miller & Co..Cleve 20,130 00 Breed & Harrison, Cln— 20,011 00
111.— B o n d O ffe r in g . — Proposals will be received until 8 p. m.
The above bidders all offered accrued Interest in addition to their bids.
Oct. 17 by O. G. Fischer, Secretary, for $20,000 5% bonds.
Harrisburg, Pa.— B o n d S a le . — The $91,000 4% 5-year
Certified check for $500, payable to the Board of Education, coupon (Series “ A” ) bonds, bids for which were opened on
is required.
Sept. 19 (V. 91, p. 897), were sold on Sept. 20 to the Harris
Easley, Pickins County, So. Caro.— B o n d S a le. —The burg Trust Co. and the First National Bank, both of Harris
$29,500 5% 20-40-year (optional) coupon water and light burg, at their joint bid of $91,010, or 100.01.
bonds mentioned in V. 91, p. 540, were sold on Sept. 21 to
Hawthorne School District (P. O. Hawthorne), Passaic
Ulen, Sutherlin & Co. of Chicago for $29,700— the price thus County, N. J.— B on d s N ot S o ld . — No bids were received on
being 100.677.
Oct. 3 for the two issues of 5% school bonds, aggregating
East Spencer (P. O. Salisbury Sub-Station 2), Rowan $34,500, described in V. 91, p. 897. The Board will decide
County, No. Caro.— B o n d s N o t S o ld . — The $25,000 coupon at its next regular meeting, Oct. 11, what further action is to
water and light bonds offered on Sept. 26 (V. 91, p. 81S) be taken looking towards their sale.
were not sold on that day, it is stated.
Hinkley School District, San Bernardino County, Cal.—
Elberton, Elbert County, Ga.— B o n d S a le . — The following B o n d S a le .— The $2,000 5% gold bonds offered on Sept. 26,
bids were submitted on Oct. 3 for the $25,000 5% street- and described in V. 91, p. 819, were awarded to the American
Savings Bank in Los Angeles at 100.375 and accrued interest.
improvement bonds described in V. 91, p. 896:
Isaac G. Swift, Elberton.a$26,250 00 Well, Roth & Co., Cln _a$25,275 00 The only other bidder was James H. Adams & Co. of Los
John W. Dickey, Augusta a25,942 50 Seasongood&Maycr, Cln. 25,100 00 Angeles at par and accrued interest.
Maturity $500 in the
J.lI.lIUsman&Co., Atlan «25,002 52 Farson, Son & Co., Chic. *25,000 00
---------Cutter, May & Co., Chic. £25,000 00 years 1915, 1920, 1925 and 1930.
a And accrued Interest. * Less “ a reasonable amount to cover the cost
Homer, Claiborne Parish, La.— B o n d O ffe r in g . — Proposals
of legal expenses, blank bonds, <Scc.” x Also pay accrued Interest, the city,
however, to allovv them $500 for attorney’s fees, blank bonds and other will be received until 8 p. m. Nov. 1 by A. R. Johnson,
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 Mayor, for S40,000 5% coupon water bonds.
$10,000 on Jan. 1 1940.
Denomination $1,000.
Date Jan. 1 1910.
Interest scml-annuallyfat
Town Treasurer’s office or the Hanover National Bank in New York.
Emporia, Lyon County, Kans .— B o n d s V o te d .— This city the
City, at option of holder. Interest to July 1 1910 canceled. Maturity
has voted to issue $11,000 4J^% sewer bonds.
Jan. 1 1950, subject to call after 20 years. Certified check for 2% of bonda
B o n d s to be Issu ed S h o r tly . — An issue of street-paving bonds bid for. payable to the Town Treasurer, is required. The bonds will be
certified as to their genuineness by the United States Mortgage & Trust Co.
will be placed on the market this month.
of New York City and their legality will be approved by Messrs. Caldwell &
Reed of New York City, whose opinion will be delivered to the purchaser.
Essex County, N. Y .— B o n d S a le . — The $60,000 4 X
A %
Delivery of bonds to be made on or about Nov. 15. Purchaser to pay ac
1-30-year (serial) gold registered county-building bonds crued Interest from July 1 1910. Bids to be madconblank forms furnished
by the town. Assessed valuation 1909, $566,180. Actual value (esti
described in V. 91, p. 602, were sold on Sept. 30 to Adams mated),
$1,000,000. G. G. Gill Is Town Clerk. These bonds were.offered;
& Co. of New York City at 102.29.
on Sept. 15. See V. 91. p. 606.
HhianfiB ,J
T H E
0 7 S
C H R O N IC L E
Howard County (P. O. Big Springs), Tex.— B o n d s V o te d .—
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.— B o n d s A w a rd ed in P a r t . — Of the $30,000
5% 10-40-year (optional) building bonds voted on March 12
(V. 90, p. 798), $20,000 have been purchased by the State
Permanent School Fund at par and accrued interest. The
taking of $15,000 of the bonds by the State was mentioned in
V. 91, p. 743; the $5,000 now taken were purchased Oct. 1.
Jersey Independent School District (P. O. Newark),
Licking County, Ohio.— B o n d S a le . — On Sept. 12 the $10,000
4 x/ 2 % 1-20-year (serial) school-construction bonds described
in V. 91, p. 478, were awarded, it is stated, to the Pataskala
Banking Co. at Pataskala.
Kansas City School District (P. O. Kansas City), Jackson
County, M o.—B o n d s A w a rd ed i n P a r t . — Of the $750,000 4%
20-year gold coupon (with privilege of registration as to
principal) school-building bonds mentioned in V. 91, p. 743,
$200,000 have been sold to the Commerce Trust Co. of Kansas
City, Mo. Denomination $1,000. Date July 1 1910. In
terest semi-annually in New York City.
King County (P. O. Seattle), Wash.— B o n d E le c tio n . — Pro
positions to issue the following 20-year bonds at not exceed
ing 4)^% interest will be submitted, according to Seattle
papers, to a vote of the people on Nov. 8: $600,000 to pro
cure the right-of-way for the Duwamish Waterway, $750,000
for the excavation of the Lake Washington Canal, $25,000
for the dredging of the Sammamish River, bringing Lake
Sammamish into the general chain of dockage; $325,000 for
public ownership of wharves and docks and $50,000 for the
diverting of the Cedar River into Lake Washington.
Lake County (P. O. Painesville), Ohio.— B o n d S a le . — The
$28,000 4
coupon Lake Road (Willoughby Township)
improvement bonds offered on Oct. 3, and described in V. 91,
p. 820, were awarded to Hayden, Miller & Co. of Cleveland
at 101.851 and accrued interest. The following are the bids
received:
lVOL. LXXXX1.
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.—
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 years.
McLean Independent School District (P. O. McLean), Gray
County, Tex.— B o n d s A w a rd ed in P a r t — On Oct. 1 the State
School Fund purchased at par and interest $4,000 of the
$25,000 5% 40-year bonds offered, but not sold, on June 3
(V. 91, p. 53). This makes $19,000 sold to the State to
date, the sale of $15,000 having been reported in V. 91, p.744.
Malden, Dunklin County, Mo.— P r ic e P a id f o r B o n d s . —
The price paid for the $30,000 water and light bonds recently
awarded to the Wm. R. Compton Co. of St. Louis (V. 91,
p. 541) was par.
B on d s A w a rd ed in P a r t . — Of
The securities carry semi-annual Interest at the rate of 5 % . Denomina
tion $500. Date March 1 1910. Maturity 1930, subject to call after 1920.
Manchester, Hillsboro County, N. H.— B o n d S a le . — An
issue of $21,000 3 ^ % 20-year cemetery bonds has been dis
posed of at par to the Trustees of the Cemetery Fund.
Mansfield, Ohio.— B on d s A u th o r iz e d . — The City Council
has passed an ordinance providing for the issuance of $12,000
4% pumping-station and water-main bonds. Denomination
$1,000. Maturity $1,000 yearly on Sept. 1 from 1912 to
1923 inclusive.
Marcy, Oneida County, N. Y .— B o n d S a le . — The $12,312 55
4 M % highway bonds offered on Aug. 29 and described in
V. 91, p. 541, were awarded to Utica Trust & Deposit Co.
of Utica at par on Sept. 3. Maturity $1,000 yearly on April
12 from 1911 to 1922 and $312 55 on April 12 1923.
Mart Independent School District (P. O. Mart), McLennon
County, Tex.— B on d s A w a rd ed in P a r t. — The State School
Fund on Oct. 1 purchased $5,000 of the $40,000 5% 20-40year (optional) school-house bonds offered on June 20. This
makes a total of $20,000 bonds sold to the State to date.
See V. 91, p. 417.
Mechanicsburg, Cumberland County, Pa.— B on d O ffer in g .
Rogers & Son_________ $28,471 00 —Proposals will be received until 7 p. m. Oct. 13 by Samuel
ThcDavlcs-BertramCo.,Cln 28,463 00
Otis & Hough Co., Cleve. _ 28,455 00 E. Basehore, Secretary of Council, for $39,000 4% streetWestern German Bk.,Cln 28,428 10
Breed & Harrison, C ln ... 28,408 80 improvement bonds. These bonds are part of an issue of
New First N. Bk., Colum. 28,289 00 $60,000.
Hayden,Miller & Co.,CIev.$28,518 50
C.E.Denison & Co., Cleve. 28,513 75
First National Bank, Clev. 28,509 75
Harto, Scott & Co.,Colum. 28,504 00
TUlotson&VVolcottCo.,Clev 28,491 32
Seasongood & Mayer, Cln. 28,485 00
Stacy & Braun, Toledo— 28,481 40
Maturity $2,000 March 1 1912 and Sept. 1 1912 and $1,500 each six
months from March 1 1913 to Sept. 1 1920 Inclusive.
Las Animas County (P. O. Trinidad), Colo.— B o n d E le c
t io n . — A proposition to issue $155,000 4 % % refunding b’onds
will be submitted to a vote of the people on Nov. 8.
Leavenworth, Leavenworth County, Kan.— B o n d S a le .—
An issue of $22,691 11 5% street-improvement bonds was
disposed of on Sept. 20 to local investors at prices ranging
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.— B o n d S a le . — The
following 5% Columbia Street improvement bonds were
awarded on Sept. 26, it is stated, to Tillotson & Wolcott Co.
of Cleveland:
$13,800 assessment bonds at 103.462. Denomination $1,380.
4,500 village’s portion bonds at 103.464. Denomination $450.
Date Sept. 10 1910. Interest annual. Maturity one bond of each Issue
yearly on March 10 from 1911 to 1920 Inclusive.
Longmont, Boulder County, Colo.— B o n d S a le s .— The fol
lowing gold coupon water-works bonds have been sold:
$165,000 4
(first series of 1910) bonds Issued on Jan. 1. Interest
Jan. 1 and July 1. Maturity Jan. 1 1925, subject to call
after Jan. 1 1920.
30,000 5M % (second series of 1910) bonds Issued Aug. 1 1910. Interest
Feb. 1 and Aug. 1. Maturity Aug. 1 1925.
Interest Is payable at the Hanover National Bank In New York City.
Lorain, Lorain County, Ohio.— B o n d S a le .— The following
bids were received on Oct. 4 for the $20,000 4 )^% 10-year
coupon river-improvement bonds described in V. 91, p. 898:
Tillotson &W olcott, Cleve.$20,640
Well, Roth & Co., Clncln. 20,605
Otis & Hough, Cleveland. 20,580
Barto. Scott <fc Co., Colum 20,572
C. E. Denison & Co., Cleve 20,554
00
00
00
00
75
Stacy & Braun, Toledo__ $20,553 00
Cent.Tr.&SafeDep.Co.,Cln.20,550 00
Hayden, Miller & Co., Cle. 20,530 00
Seasongood&Mayer, Cln . . 20,412 00
G. H. Breyman Bros_____ 20,000 00
O. Los Angeles), Cal.— B o n d
Los Angeles County (P.
will be received until 2 p. m. Oct. 17
(not Oct. 10, as at first reported) by the Board of Supervisors,
C. G. Keyes, ex-officio Clerk, for $525,000 4J^% gold road
bonds. These securities are part of the issue of $3,500,000
bonds, $1,050,000 of which were sold on Nov. 23 1908 to
E. H. Rollins & Sons of San Francisco at 104.775. See
V. 84, p. 1620.
O ffe r in g .— Proposals
Denomination $1,000. Date Feb. 1 1909. Interest semi-annually at
the County Treasurer’s office or at the banking house of Kountze Brothers
In New York City, at option of holder. Maturity $15,000 yearly on Feb. 1
from 1915 to 1949 Inclusive. Certified or cashier’s check for 3% of bonds
bid for, payable to the Chairman of the Board, Is required. Purchaser to
pay accrued Interest.
Lubbock County (P. O. Lubbock), Tex. — B o n d s R eg istered .
— On Sept. 29 the State Comptroller registered $17,000 5%
10-40-year (optional) jail bonds.
Lucas County (P. O. Toledo), Ohio.— B o n d O ffe r in g .—
Proposals will be received until 10 a. m. Oct. 24 by Chas. J.
Sanzenbacher, County Auditor, for $22,357 50 4 ^ % roadimprovement bonds.
Authority Section 6956-15, General Code; 101 Ohio Laws, pages 253-254.
Denomination $500, except one bond of $357 50. Date Oct. 31 1910
interest semi-annually at the Treasurer’s office. Maturity $5,857 50 In
Denominations $500 and $1,000. Bonds bear Interest from July 1 1910.
Maturity Jan. 1 1938, subject to call at any Interest-bearing period after
Jan. 1 1923. Bonds are tax-exempt In Pennsylvania.
O ffic ia l n o tice o f this bond o ffer in g w ill be fo u n d a m on g the
a d vertisem en ts elsew here in this D e p a r tm e n t.
Medford School District (P. O. Medford), Grant County,
Okla.— B on d s V o te d . — 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. 0 . Merriam), Johnson County,
Kan.— B o n d s V o te d . — It is stated that the issuance of $20,000
school bonds was authorized on Sept. 24 by a vote of 101
“ for” to 13 “ against.”
Middletown School District (P. O. Middletown), Dauphin
County, Pa .— B on d s N o t S o ld . — Reports state that no sale
was made on Sept. 19 of the $50,000 4% coupon school
building bonds described in Y. 91, p. 744.
Milford Independent School District (P. O. Milford), Ellis
County, Tex.— B o n d S a le . — This district on Oct. I sold
$5,000 of the $20,000 5% 20-40-year (optional) school-build
ing bonds offered on May 17 (V. 90, p. 1316), to the State
School Fund at par and interest. The other $15,000 bonds
were also purchased by the State School Fund. See V. 91,
p. 667.
Minnehaha County (P. O. Sioux Falls), So. Dak.— B on d
E le c tio n . — The question of issuing $50,000 jail bonds will be
voted upon on Nov. S.
Moore School District, Fergus County, Mont.— B o n d S a le.
— On Sept. 17 $1,100 6% 20-year bonds wero awarded, it is
stated, to the Bank of Fergus County in Lewistown at 100.20.
Moscow, Latah County, Idaho.— B o n d S a le . — The $40,000
5 j^ % 10-20-year (optional) coupon refunding bonds, offered
without success on Sept. 3 (V. 91, p. 821), have been pur
chased by O’Connor & Kahler of Chicago. Interest semi
annual.
Motley County Common School District No. 6, Tex.—
B o n d S a le .— On Oct. 1 the $5,000 bonds (the unsold portion
of the issue of $20,000 5% 5-40-year— optional—Ronds
mentioned in V. 91, p. 744) were sold to the State School
Fund at par and accrued interest.
Mt. Airy (P. O. Cincinnati), Ohio.— B o n d s D e fe a te d .—
The proposition to issue the $12,500 4% water-system-con
struction bonds mentioned in V. 91, p.745, was defeated,
it is reported, at the election held Oct. 1. The vote was
58 “ for” to 43 “ against” , two-thirds being necessary to
authorize.
Mt. Pleasant Independent School District (P. O. Mt.
Pleasant), Titus County, Tex.— B on d s A w a rd ed in P a r t . —■
On Oct. 1 $7,500 of the $22,000 bonds:—the unsold portion of
the issue of $32,000 5% 10-40-year (optional) building bonds
mentioned in V. 91, p. 479.— were sold to the State School
Fund at par and accrued interest.
O c t . 8 1910. i
T H E
C H R O N IC L E
Mt. Vernon, Westchester County, N. Y .— B o n d S a le .—
The $25,000 4 )4% 20-year coupon highway-re-paving bonds
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 50Chisholm & Chapman___ $25,757 90
E. H. Rollins &Sons„ N.Y 25,917 50 Adams & Co., New Y ork. 25,757 50
Spltzer & Co., New York. 25,910 25 N.W.Halsey&Co., N. Y ._ 25,719 25
Parkinson &Burr, N. Y . . . 25,889 23 VV. N. Coler & Co., N. Y__ 25,710 00
Dominick&Domlnlck, N.Y 25,817 50 A. B. Leach & Co., N. Y . 25,695 Ob
Morgan, LI vermore &Co.,N. Y25.817 50 Kountze Bros., N. Y _____ 25,692 50
Farson, Son & Co., N. Y . . 25,766 75 Rhoades & Co., New York 25,595 50
Estabrook & Co., N. Y __ 25,765 00 J. J. Hart, Albany_______ 25,589 00
B o n d O ffe r in g . — Proposals will be received until 8 p. m.
Oct. 18 (postponed from Oct. 4) by the Common Council for
$20,000 4)4% coupon fire and police department building
bonds:
Denomination $1,000. Date Oct. 1 1010. 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. II.
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.
T h e o ffic ia l n o tice o f this bond o ffer in g w ill be f o u n d a m o n g
the a d vertisem en ts elsew here in this D ep a rtm en t.
9 7 9
sewer bonds awarded on that day, as stated in V. 91, p. 899,
to E. M. Farnsworth & Co.
E. M. Farnsworth & Co_____ 103.85 Blake Bros. & Co__________ 102.90
Estabrook & Co....................... 103.67 Kuhn, Fisher & C o . . - .......... 102.813
Edmunds Bros______________ 103.56 N. W. Harris & Co_________ 102.516
Geo. A. Fernald <ScCo______ 103.556 Jackson & Curtis___________ 102.201
Parkinson & Burr___________103.412 It. L. Day & Co____________ 102.199
Blodget & Co_______________ 103.31 Perry, Coffin & Burr............ 102.16
Lee, Hlgglnson & Co...........103.059 Merrill, Oldham & Co_______ 101.66
Adams & Co________________103.02
The above bidders are all of Boston.
Oakley School District (P. O. Cincinnati), Hamilton
County, Ohio.— B o n d O ffe r in g . — Proposals will be received
until 12 m. Oct. 31 by W. E. Seilkop, Clerk Board of Edu
cation, for $25,000 4 )4 % 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.— B on d s V o te d . — 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-worksimprovement bonds mentioned in V. 91, p. 668. Bonds
will be dated Jan. 1 1911. Interest semi-annual.
Oklahoma City, Okla.— B o n d S a le . — 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.
Murray School District (P. O. Murray), Hocking- County,
Omaha, Neb.— B o n d s N o t S o ld . — There were no bidders on
Ohio.— B o n d S a le . — On Sept. 30 the $5,000 5% coupon
school-improvement bonds described in V. 91, p. 821, were Oct. 5, it is reported, for the $6,500,000 4% 30-year coupon
awarded to Stacy & Braun of Toledo at 102.235 and accrued water-plant-purchase bonds described in V. 91. p. 899.
B o n a S a le N o t C o n su m m a ted . — The sale of the $50,000
interest. The following were the other bidders:
Mrs. D. Garber, C olu m bu s...100.72INew First Nat. Bk., Columb_100.21 4 34% 20-year coupon park bonds which were awarded on
M. C. Pond, Columbus---------- 100.691K. of P. Lodge, Murray______ par
May 26 to O'Connor & Kahler of New York City (V. 90, p.
Maturity $1,000 yearly on Sept. 1 from 1912 to 1916 Inclusive.
1508) has been canceled.
We are informed that they will,
Nashville, Tenn .— B o n d E le c tio n . — An election will be held not be re-offered for sale before next March.
Nov. 8 to vote on the question of issuing $300,000 Black
Onaga, Pottawatomie County, Kan.— B o n d E le c tio n . —
Bottom Park and $25,000 colored Normal School 4 )4% An election will be held Oct. 10 to vote on the question of
bonds. Maturity Jan. 1 1941.
issuing $18,000 5% 10-30-year (optional) water-worksNewburgh Heights (P. O. Cleveland), Cuyahoga County, construction bonds.
Ohio.— B o n d O ffe r in g . — Proposals will be received until
Orange County (P. O. Goshen), N. Y .— B o n d O ffe r in g . —
12 m. Nov. 5 by A. W. Shatto, Village Clerk, for the following Proposals were asked for until 12 m. yesterday (Oct. 7) by
5% coupon improvement assessment bonds:
Robert Johnston, County Treasurer, for $65,000 4 )4%
$1,124 78 Alpha Avc. sewer bonds. Denomination $562 39. Maturity coupon court-house and jail bonds. The result of this
one bond on Oct. 15 In 1915 and In 1920.
1,165 48 Beta Ave. sewer bonds. Denomination $582 74. Maturity offering was not known to us at hour of going to press.
one bond on Oct. 15 In 1915 and in 1920.
989 72 Brtdgevlew 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.
1,262 90 McGregor Ave. sewer bonds. Denomination $631 45. Maturity
one bond on Oct. 15 In 1915 and In 1920.
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.
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.— B o n d S a le . — On Sept. 30
the $9,000 4 ^ % 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.—
Sept. 17 $7,000 5% street-umprovement
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., Clevc.101.044
Tlllotson 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.
Newton County (P. O. Newton), Miss.— B o n d s D e fe a te d .—
Ossining, Westchester
$200,000 5-29-year (serial) registered sewer improvement
bonds offered on Sept. 20, and described in V.91, p. 745, have
been awarded to A. B. Leach & Co. of New York City at
100.052 for 434s.
Osyka, Pike County, Miss.— B o n d O ffe r in g . — Further de
tails are at hand relative to the offering on Oct. 11 of the
$20,000 6% coupon water-works and electric-light bonds
mentioned in V. 91, p. 899. Proposals will be received for
these bonds until 8 p. m. on that day by Clinton Thompson,
Mayor.
B o n d S a le . — On
On Sept. 30 a proposition to issue court-house bonds was
defeated, it is reported, by a vote of 709 “ for ” to 985
against.
New York City.— B o n d S a le . — During the month of
September the Sinking Fund of this city purchased the bonds
given below at par:
Purpose.
lilt. Rate. Maturity.
Various municipal purposes----------------------------- 3
1959
Water bonds------------ -------------- -----------------------3
1059
General fund bonds----------------------------------------- 3
1930
Amount.
$129,000
2,000,000
5,000,000
T o ta l------------ ----------- --------------------- ---------------------------------- $7,129,000
The following revenue bonds (temporary securities) were
also issued during September:
Interest.
Revenue bonds, curront expenses-------------------------------- 3M
Revenue bonds, special--------------- ----------------------------- 4
Amount.
$16,150,000
360,000
T o ta l______________________________ _______ ______________ $16,510,000
Nile3, Trumbull County, Ohio.— B o n d O ffe r in g . — Pro
posals will be received until 2 p. m. Oct. 18 by Homer
Thomas, City Auditor, for $75,000 434% coupon waterimprovement bonds.
Authority Sections 2835 and 2837, Revised Statutes. Denomination
$500. Date Sept. 1 1910. Interest scml-annually at the City Treasurer's
office. 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.
Nolan County (P. O. Sweet Water), Te x . — B o n d s V o te d .—
The election held 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.— P r ic e P a id f o r B o n d s —
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
annual.
Norfolk, Va.— B o n d E le c tio n P r o p o s e d . — At the next meet
ing of the City Council, which will be held Oct. 11, a resolu
tion will be presented providing for an election to vote on
the question of issuing $600,000 water-works-system bonds.
North Andover, Essex County, Mass.— B id s . — The follow
ing bids were received on Sept. 29 for the $15,000 4% coupon
Seasongood & Mayer, Cln__ 100.844
New First Nat. Bk., Col___ 100.75
Stacy & Braun, Toledo........ 100.77
Provident Savings Bank &
Trust Co.. Cincinnati_____100.61
Otis & Hough, Cleveland___ 100.533
County, N. Y .— B o n d S a le . — The
Authority. Sections 3415, 3416, 3419, 3420, Chapter 99, Code of 1906.
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. Certified check for $500, payable to the Mayor, Is re
quired. Bonded debt at present, $10,000. No floating debt. Assessed
valuation 1909, $434,289.
Peabody, Marion County, Kan.— B on d s N o t to be Is su ed
at P r e s e n t. — 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)
will be issued.
Penelope Independent School District (P. O. Penelope),
Hill County, Te x . — B o n d S a le . — On 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 V. 91,
p. 745, we reported the sale of $10,000 of these bonds to
the State.
Pittsburgh, Pa .— B o n d E le c tio n . — 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.— B o n d S a le . — 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 o f the bonds is reported as follows: $90,500 Jto
W. F. White at par and accrued interest, $20,000 to Morris
Bros, of Portland at 100.055, $20,000 to the ScandinavianAmerican Bank of Portland at from 100.10 to 100.25 and
$10,000 to the Hibernian Bank at 100.50. The papers failed
to state what award was made of the remaining $4,000 bonds.
Racine, W is.— B o n d E le c tio n . — An election will be held
Nov. 8 to vote on the question of issuing $50,000 4 ^ % 1-20year (serial) school bonds.
._j
9 8 0
T H E
C H R O N IC L E
Reno School District No. 129 (P. 0 . Reno), Leavenworth
County, Kan.— B o n d S a le . — An issue of $1,000 5% schoolhouse bonds dated July 1 1910 was sold during September
to the State of Kansas at par.
Maturity part yearly on July l from 1911 to 1920 inclusive, subject to
call, however, at any time.
Rosebud County School District No. 20 (P. O. Big Horn),
Mont.— B o n d S a le . — 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.
Rush County (P. O. Rushville), Ind.— B o n d s O ffered by
B a n k e r s . — Bonds of Rushville Township, amounting to
$50,500, are being offered to investors by the J. F. Wild &
Co. State Bank of Indianapolis. The securities carry interest
at the rate of 5% and are issued to construct gravel roads.
Denominations $500 anti $525. Date June 7 1910. Interest May 15
ancl Nov. 15 at the County Treasurer’s office in Rushville. Maturity
$2,525 each six months from May 15 1911 to Nov. 15 1920 Inclusive.
Rush County School District No. 33, Kan.— B o n d S a le .—
During the month of September the State of Kansas pur
chased $1,000 5% school-house bonds at par. The bonds
are dated July 1 1910 and mature part yearly on July 1 from
1911 to 1920 inclusive, but arc subject to call at any time.
St. Charles, Saginaw County, Mich.— B o n d O fferin g —
Further details are at hand relative to the offering on Oct. 10
of the $14,000 4 % % electric-light-plant-construction bonds
mentioned in V. 91, p. 900. Proposals will be received will
be received until 8 p. m. on that day by C. H. Clipper, Clerk.
Authority, Sections 2901-2904, Complied Public Laws. Denomination
$1,000. Date, “ day of Issue." Interest at St. Charles State Dank. Ma
turity $1,000 yearly from 1912 to 1925 Inclusive. Bonds are exempt from
all taxes. Certified check for $100, payable to the Clerk, Is required.
Assessed valuation 1910, $285,175.
St. Paul, Minn.— B o n d O ffe r in g . — Proposals will be re
ceived until 12 m. Oct. 10 by W. H. Farnham, City Comp
troller, for $150,000 4% school bonds.
Denominations $100 to $1,000. Interest semi-annual.
years. Certified check for 2% Is required.
Maturity 30
San Benito Independent School District (P. O. San Benito),
Cameron County, Tex.— B o n d S a le . — 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 years.
San Diego, Cal.— B o n d s N o t to be O ffered at P r e s e n t. — We
are advised that the five issues of 4 j^ % gold bonds, aggre
gating $1,533,000, voted on Aug. 9 (V. 91, p. 543), will not
be offered for sale until after the November election.
San Francisco, Cal.— B o n d O ffe r in g .— 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
until 3 p. m. on that day by the Board of Supervisors, W. It.
Hagerty, Clerk. The bonds answer the following description:
[V O L . L X X X X I
V. 91, p. 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:
N. VV. Harris & Co.. N. Y . . . 101.933
E. H. Rollins & Sons, Boston 101.81
R. L. Day & Co., N. Y .........101.79
Estabrook & Co.,N. Y . .........101.62
Rhoades & Co.. New Y ork -- 101.603
Farson, Son & Co., N. Y ___ 101.575
N. W. Halsey & Co.. N. Y _ . 101.57
Kountze Bros., New York
101.57
Spltzer & Co., New York
101.549
Lee, Hlgglnson <Ss Co., Bos_.101.435
O’Connor & Kahler, N. Y __ 101.38
Kissel, Klnnlcutt & Co., N.Y.101.38
VV. N. Color & Co., N. Y ----- 101.33
Parkinson & Burr., N. Y ----- 101.273
Blodget & Co.. New York__ 101.06
VVm. A. Read & Co., N. Y . .101.02
C. E. Denison & Co., C lev e..100.67
White, Weld & Co., N. Y . . . 100.66
A. B. Leach & Co., N. Y ___ 100.60
Thos. J. Bolger Co., Chicago. 100.253
Shawnee County (P. O. Topeka), Kan.— B o n d E le c tio n .—
At the election to be held Nov. 8 it will be determined
whether or not $50,000 bonds shall be issued for the im
provement of the State fair grounds.
Shreve, Wayne County, Ohio.— B on d S a l e .— On Sept. 26
the $2,400 5% 2-7-year (serial) coupon water-works-systemimprovement bonds described in V. 91, p. 823, were awarded
to the Citizens’ National Bank of Wooster for $2,476.50
(103.187) and accrued interest.
South Haven, Mich.— B on d s A u th o r iz e d .— The City Council
has authorized the issuance of the following bonds: $22,000
for docks, $20,000 to refund water bonds and $12,000 for
harbors.
South San Joaquin Irrigation District (P. O. Manteca),
San Joaquin County, Cal.— B o n d s N o t Y e t S o ld .— No sale
has yet been made of the $1,073,500 bonds— the unsold
portion of the issue of $1,875,000 5% 30-year irrigation
bonds mentioned in V. 91, p. 355.
Springfield, Mass.— B o n d S a l e .— On Oct. 5 the $400,000
4% 1-40-year (serial) gold coupon (with privilege of regis
tration) municipal-building bonds and the $340,000 4 %
1-20-year (serial) gold registered fire and police-building
bonds, described in V. 91, p. 900, were sold to E. M. Farns
worth & Co., Geo. A. Fernald & Co. and Kuhn, Fisher & Co.,
all of Boston, at their joint bid of 104.679 and interest.
Springfield, Clark County, Ohio.— B o n d E le c tio n . — Accord
ing to reports,a proposition to issue $130,000 sewer-construc
tion bonds will be voted on at the fall election.
Starkville, Oktibbeha County, Miss.— B on d O ffe r in g .—•
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.
Authority Chapter 99,Sections 3416, 3419 and 3420, Code of 1906,a»d
Chapter 142 Acts of 1910. Denomination $500. Date Nov. 1 1910.
Interest semi-annually at the Security State Bank In Starkville. Maturity
Nov. 1 1930. Certified check for $750 is required.
Story County (P. O. Nevada), Iowa.— B on d E le c tio n .—
It is reported that propositions to issue $50,009 hospitalconstruction, $30,000 county-farm-home and $6,000 fair
ground bonds will be voted upon on Nov. 8.
Struthers, Mahoning County, Ohio.— B o n d S a l e .— The
$600,000 5% school bonds dated July 1 1908 and maturing $24,000 yearly $2,000 5% 1-4-year (serial) Bridge Street improvement
from 1914 to 1938 Inclusive.
assessment bonds offered on Sept. 21 and described in V. 91,
200,000 5% hospital bonds dated July 1 1908 and maturing $10,000
p. 747, were awarded to the Struthers Savings & Banking
yearly from 1913 to 1932 Inclusive.
200 000 5% hall of Justice bonds dated July 1 1908 and maturing $10,000 Co. at 101.2375.
yearly from 1912 to 1931 Inclusive.
Sylvania, Lucas County, Ohio.— B on d S a l e .— The $7,
144 000 4
polytechnic high school bonds dated Jan. 1 1910 and ma
turing $6,000 yearly from 1914 to 1937 Inclusive.
918 81 5% coupon Ohio Ave. and Division St. improvement
The first three Issues mentioned above are part of the $t8,200,000 bonds
voted May 11 1908, of which $12,320,000 have been sold; $3,280,000 on assessment bonds, described in V . 91, p. 823, were sold on
Sept. 8 1908 on a 4.46% basis, $5,400,000 Feb.8 1909 on a 4.05% basis and Oct. 3 to the Sylvania Savings Bank of Sylvania at 102.089
$3,640,000 Dec. 6 1909 on a 4.40% basis. The polytechnic high school a id accrued interest.
Following is a list of the bidders and
bonds are a portion of a $600,000 Issue voted June 22 1909, none of which
has been sold as yet. Denomination $1,000. Interest semi-annually at the premiums offered by the same.
the City Treasurer's office or, at option of holder, at the fiscal agency of
San Francisco In New York City. Bonds arc exempt from all taxes In
California. Bids must be made on 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
not exceed $10,000. The opinion of Dillon & Hubbard of New York City
as to the legality of the bonds will be furnished to the purchasers.
San Saba Independent School District (P. O. San Saba),
San Saba County, Tex. — B o n d S a le .— An issue of $6,000 5%
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 . — B o n d S a le .— 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 4J4s; $15,000 paving bonds, due $1,000 yearly on
Sept. 1 from 1916 to 1930 inclusive, awarded at 100.21 for
4)^s; $28,000 water bonds, due $1,000 yearly on May l 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
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:
Sylvania Sav. Bk., Sylvania.$165 50| S taoy A Braun, Toledo . -552 75
Mcrch.&Clerks'Sar.Bk.,Tol
115 0 0 |Seasongood & Mayer. Cln
20 65
Hayden, Miller & Co., Cleve. 108 001 Now First National Bank
Well, Roth & Co., Cincinnati 60 001 Columbus. . . . . .
----Maturity $718 81 on March 15 1911 and $800 each six month
Sept. 15 1911 to Sept. 15 1915 Inclusive
Tacoma, Wash.— B i d s .—The following bids were received
on Sept. 26 for the $200,000 20-year gold coupon Green River
Gravity Water System construction bonds, the sale ol which
was reported last week.
13. H . Rollins & Sons, Chicago and Parkinson & Burr,
Boston -------------------- ----------------------- ------------------------ $202,320 for 4 'As
Woodln, McNear * Moore, Chicago, Scasongood & Mayer
and Provident Savings Bk. & Trust Co., Cincinnati
. 201,760 for 4 As
201,120 for 4 'As
N. W. Halsey & Co., Chicago.
....
200,780 for 4 'As
Harris Tr ist & Savings Bank, Chicago
200,640 for 4 As
Estabrook & Co., C h ic a g o ............................................- - 1200,090 for 4 'As
Thos. J. Bolger Co., Chicago
1206,520 for 5s
f 197,800 for 4 As
{ 203,023 for 4 %s
Well, Roth & Co., Cincinnati
1210,501 for 5s
195,180 for 4 As
Win, A. Read & Co., Chicago
1206,040 tor 5s
2 10,440 for f,»
O’Connor & Kahler. New York
210,320 for 5s
Merchants’ Loan & Trust Co.. Chicago
205,200 for 5s
S. A. Kean & Co., Chicago
202,022 for 5s
Farson, Son & Co., Chicago................
200,633 66 for 5s
I,. N. Rosenbaum. Seattle
Terrell, Tex. — B on d s R egistered .- -The $8,000 5% 15-40-
year (optional) water and light bonds offered without success
on June 15 (V. 91, p. 543) were registered by the State Comp
troller on Sept. 27.
Terrell County Common School District No. 1, Tex. — B on d
S a le .— On Oct. I 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 tit par and accrued interest
Sept. 28 the $49,000 4j/o% registered highway-improvement to the State School Fund.
Theresa, Jefferson County, N. Y . — B on d s N o t to be O ffered ,
bonds described in V. 91, p. 823, were awarded to N. W.
Harris & Co. of New York City at 101.392 and accrued inter at P r e s e n t .— The Village Clerk informs us that the $16,500
est. Maturity $1,000 in 1911 and $2,000 yearly from 1912 water bonds which, it was reported, would be offered Sept. 13,
“ will not be sold until the spring.”
to 1935 inclusive.
Toledo, Ohio.— B on d S a le s .— During the quarter ending
Schenectady, N. Y . — B o n d S a le .— On Sept. 30 the $85,000
4;}4>% 1-17-year (serial) registered sewer bonds described in Sept. 30 the following bonds were issued by*this city:
$40,000 $15,000 $28,000 $15,000 S9.000
patina paving water
Jire crematory
bonds, bonds, bonds, bonds. bonds.
Estabrook & Co., New York___ 100.98 lo t .305 104.36 101.80 101.44
Edmund Seymour & Co., N. Y _ .100.25 100.35 101.05 100.27 100.17
W. N. Colcr & Co., New Y ork-- _____
_____ 102.77 101.41 101.40
Geo. M. Ilahn & Co., New York/for the five Issues, par-------------------------\ ........................ 100.39 100.39
_____
The above bids were all made for 4 A % bonds.
Scarsdale (P. O. White Plains), N. Y . — B o n d S a le .— On
O c t . 8 191 0 .)
$ 7 0 ,0 0 0 0 0 4 %
2 ,5 9 9
13 5 %
3 11 77 5 %
.
THE CHRONICLE
m a r k e t-p la c e b o n d s d a te d M a rc h 1 19 10 a n d d u e M a rch „
19 30 .
O f t h i s I s s u e o n e - h a l f w a s p u r c h a s e d b y t h e c i t y ’s
s in k in g fu n d a n d o n e - h a lf b y th e s in k in g fu n d o f th e
sch o o l d is tric t.
S e w e r N o . 1091 a s se ss m e n t b o n d s d a te d S e p t
19 19 10
a n d d u e p a r t e a c h s ix m o n th s b e g in n in g M a r c h 19 1 9 1 1 .
P u r c h a s e d b y c i t y ’s s i n k i n g f u n d .
S e w e r N o . 1 ,0 9 0 a s s e s s m e n t b o n d s d a t e d J u l y 3 1 1 9 1 0 a n d
d u e p a r t e a c h s i x m o n th s b e g in n in g M a r c h 3 1 1 9 1 1
P u r
c h a s e d b y c i t y ’s s i n k i n g f u n d .
981
P’ 901, were awarded to E . H . Rollins & Sons of Boston at
100.82 and accrued interest. Other bids received were as
follows:
J.
S . & V V . S . K u h n , P i t t s b u r g h _____
H a y d e n , M ille r & C o .. C le v e la n d
.............
O H C it y T r u s t C o ., o i l
__ II 1 1 I I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ~
F r a n k l i n T r u s t C o . , F r a n k l i n ________________________________
$ 1 7 6 2 4 0 00
I ll’l l
50
1 7 5 ] 1 7 5 50
Wabash, Wabash County, Ind.— Bond Offering.— W . G.
Gardner, County Treasurer, is offering at private sale $70,400
0 / 0 coupon street-improvement bonds.
The above bonds were all sold at par and accrued interest
on Sept. 26
B o n d s A u th o r iz ed .— Ordinances were passed
P™0/ ™ , ! " 8 fo r th o issu a n c e o f th e fo llo w in g | 4 % c o u p o n b o n d s :
t l i e 1C a r d ? n !a j v m
h
n ° ' , L|at< i
15 1 0 1 ° I n t e r e s t s e m i- a n n u a lly a t
I n c l u s i v e 1 N a t o n a l B a n k 1,1 I n d i a n a p o l i s .
M a t u r it y fro m 1 9 1 1 to 19 30
* 20 0,000 w a te r -w o r k s -I m p r o v e m c n t b o n d s .
D e n o m in a tio n S I 000
D a te
O c t. 1 19 10 .
I n te r e s t s e m i- a n n u a lly a t th e U . S . M o r tg a g e &
T r u s t C o . In N e w Y o r k C i t y .
M a t u r i t y $ 5 0 ,0 0 0 o n O c t . 1 I n e a c h
o f th e y e a r s 19 2 3 , 19 24 , 19 25 a n d 19 20 .
8 0 ,0 0 0
s t r e e t i m p r o v e m e n t b o n d s ( c i t y ’s p o r t i o n ) .
D a te O ct
15 19 10
I n t e r e s t s e m i- a n n u a lly a t th e U . S . M o r tg a g e & T r u s t C o . o f N e w
Y o rk C ity .
M a tu r ity 5 y e a r s .
Wall, Allegheny County, Pa.— Bond Sale.— This borough
has sold $35,000 street bonds.
W »r5en> Warren County, Pa.— Bond Sale.— On Sept. 30
20-year the $25,000 street and sewer and the $15,000 funding 4 y 2%
bonds have been sold: 817,700 for the erection of a crematory coupon bonds described in V. 91, p. 824, were sold to N . W .
plant, $09,411 41 to build an extension to the Melan Bridge H am s & Co. of New York City at 103.079 and accrued in
and $4,101 to construct a bridge across the Shunganunga terest.
The following proposals were submitted:
Creek.
^ w r ‘ R aarrnr !? n ? if 9 i ’ , I 1 v v L ? ?.1 ’ P 1 6 0 J H - p - T a y l o r & C o . . P l t t s b . $ 4 0 . 8 5 7 5 0
4 h 228 0 0 1 c - E - D e n i s o n & C o . , C l e v _ 4 0 , 8 2 8 7 5
B o n d s P r o p o s e d . — This city will be on the market some
1 l l l o t s o n & \ V o l c o t t C ° . , C l e v 4 0 ,9 0 8 0 0 1 H a y d e n , M i l l e r & C o . , C l e v _ 4 0 , 7 5 6 0 0
time this month with $1,015 bonds. It is expected, how J . b . & Y V . S . K u h n , I n c . , P i t t 4 0 , 8 6 7 2 0 1
ever, that they will be sold locally.
s i 5 n n n * « r .r o ‘ l s \v e ir e a l s <> r e c e i v e d .
M a t u r i t y $ 1 0 ,0 0 0 o n O c t . I 1 9 2 0 a n d
• > ia ,o o o o n O c t . 1 in e a c h o f t h e y e a r s 1 9 3 0 a n d 1 9 4 0 .
Trenton, Gibson County, Tenn .— B o n d S a le .— The $12,000
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 tho local light plant.
Savings Bank in Los Angeles at 100.20 and accrued interest,
Troy, N. Y .— B o n d S a le .— 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
D e n o m in a t io n 5 7 5 0 .
D a te O c t. 1 19 10 .
II n
n tt ee rreesst t ' s e m i - a n n u a l .
M at u r i t y $ 7 5 0 y e a r ly fr o m 1 9 1 1 to 19 3 0 I n c lu s iv e .
to vote on the question of issuing $2,000,000 good-road bonds.
Topeka, Kans.—
B o n d S a le . — The following 4 ^ %
Van, Crawford County, Iow a.— B o n d s
Wayne Township School District (P. O. Good Hope),
Fayette County, Ohio.— Rond Offering.— Proposals will be
O ffered b y B a n k ers.
— School 5 % bonds, amounting to $9,000, are being offered
received until 12 m . Nov. 1 by C. W . Walker, Clerk Board of
Education, for $30,000 5 % coupon school-building and sitepurchase bonds.
$ 73 5,76 8.
Venango County (P. O. Franklin), Pa.— B o n d
A u th o r ity S e c tio n s 7 6 2 5 , 76 2 6 a n d
7627,
n o m in a tio n $ 5 0 0 .
D a te N o v . 1 19 10 .
In t.
ik , W a s h in g to n C o u r t H o u s e . M a tu r ity o n
1 9 1 2 , $ 2 ,0 0 0 In 1 9 1 3 , $ 3 ,0 0 0 i n 1 9 1 4 , $ 3 , 5 0 0 i n
1 9 1 6 to 19 2 0 In c lu s iv e .
C e r tifie d c h e c k f o r
S a le .— On
Ba
Oct. 1 the $175,000 4 y2% bridge bonds, described in V. 91,
NEW LOANS.
NEW LOANS.
$ 2 0 ,0 0 0
$39,000
MISCELLANEOUS.
CITY OF MOUNT VERNON, Borough of Mechanicsburg, Pa.
Westchester County, N. Y„
STREET IMPROVEMENT BONDS
FIRE AND POLICE DEPARTMENT
BUILDING BONDS
T h e C o m m o n C o u n c il o f t h e C i t y o f M o u n t
V e r n o n w i l l , a t i t s c h a m b e r s In t h e L u c a s H u n t i
n g . D e p o t P l a c e , in t h e C i t y o f M o u n t
V ern o n
N . Y ., o n th e 1 8 T II D A Y O P O C T O B E R , 19 10 ,
a t 8 o ’c lo c k p . m . , r e c e iv e s c a le d p r o p o s a ls f o r th e
p u r c h a s e o f b o n d s , to b e d e n o m in a te d ‘ ‘ P lr e a n d
P o lic e D e p a r tm e n t B u ild in g B o n d s ” , n u m b e r e d
c o n s e c u tiv e ly fro m
10 1 to 12 0 , b o th I n c lu s iv e
e a c h b o n d to b e fo r t h e p r in c ip a l s u m o f o n e
th o u sa n d
( $ 1 ,0 0 0 ) d o l l a r s .
T h e s a id C o m m o n C o u n c il w ill t h e n a n d t h e r e
o p e n s u c h p r o p o s a ls a n d a c c e p t t h e m o s t f a v o r a b le
t h e r e o f , u n le s s i t d e e m It f o r t h e b e s t I n t e r e s t o f
t h e c i t y to r e je c t a n y a n d a ll o f s a id p r o p o s a ls .
T h e s e b o n d s w ill b e f o r t h e p r in c ip a l s u m o f
$ 1 ,0 0 0 , w it h in t e r e s t c o u p o n s a t t a c h e d , a n d w ill
b e a r In te re st a t t h e r a te o f fo u r a n d o n e -h a lf
(4 M p e r c e n t u m ) p e r c e n t u m p e r a n n u m , p a y a b l e
s e m i- a n n u a lly a t t h e o fr iflc e o f th o C i t y T r e a s u r e r
o f th e C ity o f M o u n t V ern o n .
T h e y w ill b e d a te d
th e 1 s t d a y o f O c to b e r, 19 10 , a n d p a y a b le a s
fo llo w s :
$ 5 ,0 0 0 t h e r e o f o n t h e 1 s t d a y o f O c t o b e r , 1 9 3 3 .
5 .0 0 0 t h e r e o f o n t h e 1 s t d a y o f O c t o b e r , 1 9 3 4 .
5 .0 0 0 t h e r e o f o n t h e 1 s t d a y o f O c t o b e r , 1 9 3 5 .
5 .0 0 0 t h e r e o f o n t h e 1 s t d a y o f O c t o b e r . 1 9 3 6 .
T h e b o n d s w ill b e d e li v e r e d to t h e p u r c h a s e r o n
o r b e fo r e th e 2 5 th d a y o f O c to b e r , 1 9 1 0 .
E a c h b id f o r s a id b o n d s m u s t b e a c c o m p a n ie d
b y a c e r tifie d c h e c k fo r th e s u m o f O n e T h o u s a n d
( $ 1 ,0 0 0 ) D o ll a r s a s a s e c u r i t y f o r t h e p e r f o r m a n c e
o f s u c h b i d a s l i q u i d a t e d d a m a g e s In t h e e v e n t o f
t h e f a ilu r e o f t h e s u c c e s s fu l b id d e r to a c c e p t a n d
p a y f o r s a id b o n d s .
B o n d s w ill b e e n g r a v e d u n d e r t h o s u p e r v is io n o f
a n d c e r tifie d a s to t h e ir g e n u in e n e s s b y th e U n it e d
S ta te s M o rtg a g e
& T ru st C om p an y and
th e ir
Icsa b ty ap p roved
b y J . i f . C a ld w e ll, E s q , o f
N c v v V o r k C i t y , w h o s e o p in io n a s t o l e g a l i t y w ill
b e fu r n is h e d to t h e p u r c h a s e r .
B y s t a t u t e t h e b o n d s c a n n o t b e s o ld f o r le s s t h a n
p a r a n d a c cru e d In terest.
1 0 io y ° r d C r o t tllu C o m m o n C o u n c il, O c t o b e r 4 t h ,
'E D W I N W . P I S K E ,
M a y o r o f t h e C i t y o f -M o u n t V e r n o n .
A. VV. K E Y N O L D S ,
S e a le d b id s w ill b e r e c e iv e d b y t h e S e c r e t a r y
o f th e T o w n
C o u n c il o f M e c h a n ic s b u r g , P a
u n t il s e v e n o ’c lo c k , p . m ., O C T O B E R 1 3
19 10
fo r b o n d s o f t h e b o r o u g h o f M e c h a n ic s b u r g , P a ,
in s u m s o f $ 5 0 0 a n d $ 1 ,0 0 0 e a c h , t o t h e a m o u n t
o f $ 3 9 ,0 0 0 .
T h e s e b o n d s a r e a p a r t o f th e Issu e
f o r a l o a n o f $ 6 0 ,0 0 0 a u t h o r i z e d b y t h e B o r o u g h
In O r d i n a n c e N o s . 1 7 7 a n d 1 8 6 , f o r s t r e e t I m
p ro v e m e n t, a n d b e a r In terest a t 4 p er ce n t p e r
annum
fro m
J u ly
1,
19 10 , an d
are
p a y a b le
J a n u a r y 1 , 1 9 3 8 , o r r e d e e m a b le a t t h e o p t io n o f
t h e B o r o u g h a t a n y I n te r e s t- b e a r in g p e r io d a f t e r
J a n u a r y 1 , 19 23 .
S a i d b o n d s a r e f r e e o f t a x In
P e n n s y lv a n ia .
m u st b e en d orsed
“ B id fo r B o n d s o f
$ 6 0 ,0 0 0 I s s u e . ”
A ll b id s f o r b o n d s m u s t b e a d d r e s s e d to
SA M U E L E. B A SE H O R E ,
S e c r e t a r y o f C o u n c il,
M e c h a n ic s b u r g , P a
M
U N I C I P A L
in v e s tm e n ts
k n o w n . Y ie ld in g
U LEN ,
y f
C h a r le s
* * 7 0
^
10
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BANKERS
M .
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&
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33
W ALL
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YORK
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C O .
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R. T. W ilson & Co,
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