The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
, , finanrtal nmmerna Quotation -Supplement (m,m^ Street Railway Supplement <^ta«ty) Investors Supplement (om^i State and City (Entered aooordlng to Act of Congress, In the year 1900, by the William B. VOL. Dana Company, SATURDAY, SEPTEMBER 71. 1, Supplement §*&*& In the office of the Librarian of Congress.] NO. 1836. 1900. Week ending August Clearings at— PUBLISHED WEEKLY. 1900. Terms of Subscription— Payable in Adrance: For One Year $10 00 For Six Months 6 00 13 00 European Subscription (including postage) 7 50 European Subscription Six Months (including postage) £2 14s. Annual Subscription In London (including postage) do. SlxMos. do. £1 lis. do. Above subscription inoludes— Street Railway Supplement Thb Quotation supplement State and City Supplement The Investors' Supplement (Per Inch Space.) Advertising— Terms of Transient matter $4 20 Three Months (13 times).. $29 00 " ).. 50 00 Six Months standing business cards. (26 " ).. 87 00 Two Months (8 times).. 22 00 Twelve Months (52 I | London Agents: Messrs. Edwards <fe Smith, 1 Drapers' Gardens, E. 0., wiU take subscriptions and advertisements, and supply single copies of the paper at Is. each. WILLIAM B. DANA COMPANY, 671,308.012 Philadelphia Pittsburg Buffalo Wilmington Bingham ton Total Middle Boston Providence Hartford New Haven Springfield Worcester Portland Fall River Lowell New Bedford Eng... Cincinnati Detroit Cleveland Milwaukee Columbus.... Indianapolis CLEARING HOUSE RETURNS. Peoria Toledo Grand Rapids The following table, made up by telegraph, etc., indicates Dayton Bvansville that the total bank clearings of all the clearing houses of the Youngstown United States for the week ending to-day, Sept. 1, have Springfield, 111 Lexington been $1,170,636,013, against $1,209,949,507 last week and Akron $1,512,247,691 the corresponding week Kalamazoo Saginaw Rockford of last year. Publication suspended. Springfield, Ohio... Clearings. Returns by Telegraph Week Ending September 1900. 1899 P. Cent Jacksonville, 111.... Tot. Mid. West'n. San Francisco New York Boston. Philadelphia Baltimore 66,460,107 $729,921,578 98,526.433 66.288,207 69,270,689 12,945,165 16.146,788 Chicago St. Louis 93.984,449 91,573.756 22 320,230 21,800,000 4,500,368 4234,745 New Canton 1. $539,661,224 Orleans -26-1 -32-5 -18-7 —19-8 +2'6 +2-4 +6'3 Salt Lake City Portland Los Angeles.. Seattle Spokane Tacoma Helena Fargo Sioux Falls Total Pacific Seven cities, 6 days Other cities, 6 days Total all cities, AU cities, Total 1 6 days day all cities for week. $793,159,748 175,497,622 1971,657,370 198,978,643 $1,170,686,018 $1,031,473,689 168,471,862 -22-8 +4*2 Kansas City... Minneapolis... Omaha Paul $1,199,945,861 -190 St. 312,301,840 -36 3 Joseph Des Moines $1,512,247,691 -22-6 Denver St. Davenport-... Sioux City , , , , Wichita Fremont. Hastings , , , Tot. other West.. St. Louis New 233,234 836,068 221,760 130,108 173,032,550 18,014,513 1,926,323 1,859,661 1,909,321 2,181,762 1,042,641 1,010,000 487,675 198.887 128,182 28,781,465 15,246,784 9,426.969 5,646,961 4 175,052 3,815,646 3,728,473 912 349 Topeka The full details of clearings for the week covered by the above statement will be given next Saturday. We cannot, of course, furnish them to-day, bank clearings being made up by the various clearing houses at noon on Saturday, and hence in the above the last twenty-four hours of the week have to be in all cases estimated,as we go to press Friday night. We present below our usual detailed figures for the previous week, covering the returns for the period ending with Saturday noon, August 25, and the results for the cor- 126,573,198 109,971,298 11,894.950 6,845,385 9.818,628 6,151,294 4,477,400 2,691,326 1,805,620 2,234,800 1,048,300 793,497 790,324 233,088 404.471 315,519 868.900 806.251 1,430,:! 66 2,019,723 1,842,071 809,987 1,027,730 749,017 398,100 Rochester Syracuse Scranton Chicago YORK. 69,584,868 119.892,679 18,869,100 7,122,697 9,968,951 5,149,827 4,784,000 2,884,479 1,952,871 2,087,255 1,084,457 988.929 714,526 261,170 353,214 294,684 439,400 373,146 31,465,457 14.793,856 4,466.739 Washington Albany New 803,657,627 87,910,964 4,716.100 1,724,798 1,107,492 895,388 1,084,845 897,089 552,974 446.267 249,001 972,668,142 79,495,574 22,606,876 20,236,813 4,244,0^1 1,605,892 2,085,242 3,018,397 834,146 1,035,420 698,991 281,700 1.108.S00.774 112,179,667 5,668,600 1,766,461 1,267,780 1,049,892 1,173.624 1,978,017 590.386 464.785 405,986 73,867,461- Baltimore Total Publishers, Pine Street, Corner of Pearl Street, POST Office Box 958. NEW New York 1899. Orleans Louisville Galveston Houston Savannah Richmond Memphis. 838,028 982 89] 989,335 624,009 103,875 187,471 46.662,748 28,107 688 6,465,101 6,078,970 2,050,500 2,600.000 2,932,436 2,526,645 Nashville Norfolk Augusta Knoxville Fort Worth responding week in 1899, 1898 and 1897 are also given. In comparison with the preceding week there is a de- Birmingham Macon crease in the aggregate exchanges of ninety-four million Little Rook Chattanooga dollars, the loss at New York being sixty-five mil- Jacksonville Total Southern. lions. Contrasted with the week of 1899 the total Total all for the whole country shows a decline of 20-4 per cent. Outside N.York.. Compered with the week of 1898 the current returns record Montreal Toronto a decrease of 0-4 per cent, and the excess over 1897 is 14-8 Winnipeg Halifax per cent. Outside of New York the decrease from 1899 is 1-7 Hamilton St. John per cent. The excess over 1898 reaches 18 9 per cent, and Victoria Vancouver making comparison with 1897 the gain is seen to be 27-7 p. c. Total Canada, , 14.797.937 2,028,658 1,454,543 1,626,018 1.870,697 1,075,000 678,960 636,893 263,265 123,576 24.854,746 13.291,686 8,118,343 5,471,872 4,092.906 8,146,789 8,092,629 1,106.315 766,613 727.288 518.557 501.361 80,551 117,822 1,209.949,507 1,620,451.007 538.641,496 12,693 180 7,565,190 2,164.021 1,419.838 642,684 697,475 689,364 655,405 26,827,157 —213 547.782,885 14.134.108 8,077 4* 1 1.751,775 2,826,989 637,356 693.979 697.663 964,855 29 781.931 1,867,839 858,531 771,444 626.0^4 281,200 1,234,048 769,002 920,189 686,674 295,000 887,679.73< 728,770,741 74,010,076 3,808,900 1,532,355 1,094,016 069,827 1,121,767 1.850,719 733.818 464.088 830.920 107,523,577 92,474,191 10,276,450 5,633,792 8,355,785 4,726.791 3,863,500 3,779,931 1,488,245 2,220.744 777.995 635.189 586,250 271,848 830,484 85.348,488 93,133,191 10,173.250 5-569,810 7,301,085 4,238,183 2,999,700 2.153,018 1.643,239 2.122,208 733,187 668,092 982.9-!8 275 640 +27*4 +21-9 316,900 327,891 232,700 289,948 'H6 3 +20-8 167,192 243,279 181.S00 163,946 256,763 140,000 135.915.695 12.928.652 1,511,423 1.880,491 1.088,535 1,165.308 603,112 793,632 551,261 163.K11 91,798 132 142.373 +90 +16-6 +4*0 +70 -003 +8*9 +68 +81 -6 6 +8*4 +18*3 —9-6 +120 —12'6 -67 : -05 -15-8 +8*6 +21-9 -50 +27 8 +17-1 +16-6 -3 1 +33 —23*4 -247 +2-5 +15-8 +14-7 +16 2 +3-2 +208 +2P3 +20 4 -17 6 +5 8 20,272,123 11181,488 6,869,423 6,868,388 8.330,277 2.534,266 2,483,829 859,440 620.486 +85-1 760 727 +870 613.1 '1 454.015 87,377 +46 +28 6 +16 7 +134 -0 8 +60 6 59 637.543 1,418671 936.268.157 56,095,169 15,887,551 15,403,692 8,762,575 1,423,804 550.518 501,899 865,180 1,SJ48,779 68.330,254 1897. 95,069.501 4,161,400 1,670,038 1,391,609 1.388,071 1,123,364 1,306.702 -6'2 -18-5 -27 9 —8-0 659,947 686,020 717,016 446,000 873,716 855 681 179,600 1898. 762,047.005 63,682,012 18,532,319 14.613,181 3,613,451 41,057,710 28,346,494 6,828,536 7,456,159 2.845,150 8,826.812 2,621 147 1,222,268 1.003,563 1,055,265 929.448 649,879 440,784 897,448 556,110 387,000 244,492 268.079 210,185 1.445.496 1,078.732 1.020.6H2 992,660 713.458 Atlanta 221,979 278,698 228,900 154,528 159,527,036 1900 P. Cent. 35. —8'6 +182 +7-5 -33 +6-8 +29-9 +27 -238 +28 9 +15*2 +62-8 +3 2'6 -14 8 —2-8 -20-4 —1*7 —102 —6-3 +23 6 -49 6 +0-8 +05 —1 2 —09 +10 62.195 35 724 767 22 001,389 5,121,220 5,115,947 2,908,550 1,911.146 1,609,788 2,668,324 1,011,496 857.229 824,077 791,b63 884,365 447,972 887,402 855.991 293,000 263,451 293.145 188,188 16.185.416 1,336.215 1,828.474 999 862 768,658 508.410 601,097 480,000 47.771 37,029 23 721.732 11,579.191 8,575.615 4,663.088 3,141,202 2,066,338 1,179,064 800.000 516,637 532,614 636.183 877.782 107.894 89 326 84,819.797 25,160,861 6,064 390 4,804.268 8,770.360 2.285.123 1,463.314 1,681 815 1,110 334 860.485 890 684 764 686 446,053 5C0 697 665 868 394.266 560,000 213 128 278,703 145.879 60.864 282 053.964 938 47922 532 .215,038,431 481657.176 10,608 284 452 991,426 12.747.213 7,186 013 1,304.666 1,011,632 578,132 646,658 28.478 614 179.970 6 8O0U00 1,181.866 1,060.807 513617 621,150 tj 20.080.614 THE CHRONICLE. 414 dend [Vol. LX21, of 2 per cent on its preferred stock, payable Oct. One per cent was distributed on these shares in March of last year, being the first dividend on the 15. THE FINANCIAL SITUATION. With almost nothing doing on our Exchange and same, but nothing has been paid in the interval since nothing of interest stirring in the business world ex- then. It should be noted that the present declaracept politics, there has seemed to be a disposition in tion is distinctly called a semi- annual dividend, so some quarters this week to make the most out of a evidently regular periodic it is among the felt that a distribu- anthracite disgruntled tion can now be maintained. Earnings the previous Tuesday, miners numbering, it is said, 140,000 men. year were sufficient to provide for the full 4 per cent however, the Mine Workers' Union held two sessions, dividend to which the preferred shares are entitled had discussing their grievances, and resolved to ask their such a course been deemed advisable. For the eleven executive committee to authorize a strike in case a months to May 31 of the late fiscal year (the figures fair and amicable settlement was not reached within for the full twelve months are not yet available) the net ten days. We do not assume to know the full merits improved over four hundred thousand dollars as comThere are, though, a few pared with the corresponding eleven months of the of this particular case. stubborn facts which are beyond question and which year preceding. indicate clearly that a strike at this date would be a The other company which has made a new dividend very untimely action, would enlist nobody's sympathy is the Central of Georgia. This company has just worth having, and must necessarily fail, because the declared 3£ per cent on the outstanding first prerailroad or mining company that increased its ex- ferred income bonds. In October of last year the penses under present circumstances and prospects payment was only 2 per cent and the previous year would be doing an extremely heedless thing. the payment was also only 2 per cent. The amount The facts and circumstances we refer to are obvious of the first preference incomes is $1,000,000. There to everyone engaged in business or who has any consid- are also $7,000,000 of 2d preference incomes and erable acquaintance with financial affairs. All depart- $4,000,000 of 3d preference incomes, but nothing has ments of trade have suddenly passed out of a year of ever been paid on these. In years gone by the Cengreat prosperity into a condition of decided depres tral of Georgia was one of the prosperous systems of sion from a state of general confidence to one of the South. When it came under the control of the Prices of nearly every kind of manufacture Richmond Terminal people it got into difficulties, distrust. from being high are again low, and in most cases are and in 1895 the property was sold at foreclosure and Consumption from being abnormally the present company organized. Mr. John M. Egan still declining. active has become sluggish and transactions have cor- is now the President of the company, and under his respondingly decreased. Besides all this, no business management the road is slowly but surely forging man can know to-day where this depression will stop. ahead. The hopeful features are (1) that haviLg passed through a season of great prosperity our industries The annual report of the Chicago Great Western are in a better condition than usual to withstand the Eailway Company, which we print at length on substrain of a severe set-back, and (2) that there are im- sequent pages, shows a continuance of the prosperity portant industrial interests such, for instance, as are which has been such a marked feature in represented by the farmers of the West and the plant this company's affairs in all recent years. The which are in an unusually satisfacers of the South state of affairs — — — further addition tory shape, having reaped a good surplus from their crops in 1899 and having the promise of receiving pay Ing prices for their products this year also. But over- hanging the future, and overhanging the affairs of every merchant, manufacturer, agriculturalist, and, indeed, endangering every man's savings, be it little or much, is the black cyclonic storm-cloud of BryanNo one can find a hole deep enough to hide ism. away from its threatenings. Each enterprise and each These individual's work and savings are at risk. words we believe to be in no degree extravagant, but Can any wage-earner hope to improve literally true. his condition by striking when every employer is beset with dangers which force him to economize? His employer, if a safe and careful manager, has not only to meet the conditions of to-day, but to prepare months to gross receipts the in twelve June 30 1900 was $853,297, or 14*54 per cent, and the further addition to net ending earnings was $306,590, or 17-82 per cent. In the period of depression succeeding the panic of 1893 the road's gross revenues earnings only $819,349. fell were From off, and 1894 5 the for $3,636,098 and the net but this an there was increase in the gross to $4,709,820 in 1895 6, to $5,386,043 in 1897-8, to $5,867,739 in 1898-9 in 1899-1900. to $1,399,577 $1,924,223 in and now to $6,721,037 The net from $819,349 in 1895 1898-9 6, in 1894-5 rose to $1,608,671 and now to i a 1897-8, to $2,230,814 in In the five years, therefore, net inover 170 per cent. But this is not the 1899 1900. creased only direction in which improvement has occurred. The physical and financial condition of the property future of those conditions can has also been greatly improved in the interval. One bring. Is it not clear that a strike instituted while financial operation of the year in particular deserves these surroundings exist could not meet with the mention. The company is organized in accordance sympathy of any one outside of the party of de- with English methods, and during the year the 5 per etructionists ? cent Sterling Priority Loan of the old Chicago for the worst the Paul & Kansas City, amounting to $2,823,150, Announcements of new or increased dividends, and which was the only mortgage indebtedness of the based on the prosperity which the roads enjoyed dur- company, was called and paid off. The company, ing the twelve months ending last June, are becoming therefore, now has no mortgage debt whatever, though The less frequent in the railroad world. This week, how- it has some equipment obligations outstanding. ever, two such announcements have been made. The permanent capital of the company is entirely made up St. Chicago Indianapolis & Louisville has declared a divi- of stock, divided into four classes, namely 4 per cent ' — . September THE CHRONICLE. 1, 1900.] debenture stock, 5 per cent preferred stock A, 4 per cent preferred stock B, and common stock. Links East or Pittsburg. of the net earnings of $2,230,814 for the late year, the company was able after meeting taxes, rentper cent on the debenture als, &c, to pay the full 4 Gross earnings Operat'g expenses Oat stock, and the full 5 stock A, and balance of $143,783. preferred surplus also yet per on the forward a cent carry President Stick- the year earnings during ney says that the were limited by the motive power and cars which the company possessed, that the carrying capacity has now been increased, and that hence there seems no reason why the new fiscal year should not record another advance in earnings equal to the increase past. An advanjust of the twelve months had in its expense tage which the company The report tells us that accounts deserves mention. in the last two years 169 miles of track have been relaid with heavy 75-pound steel rails; yet the charge for renewals of rails was but $29,270 in 1898-9 and no more than $15,611 for 1899-1900. The explanation is found in the fact that the order for the rails was given when prices were still low ($19 00 per ton) and that by the time the rails were delivered the price had advanced so that the company was able to sell the old rails taken up at about $10*00 more per ton than July- Net earnings. 115 1900. 1899. 1898. $ 6.790,095 6,081,695 5,163,295 5,480.395 5.258,595 5,415,895 4,575,604 4,250,534 3,460,864 3,668,664 3,795,964 3,855,664 2,214,481 1.831,131 1.701,431 1,811,731 1,462,631 1,559,831 t in:>7. 1896. 1805. f Jon. 1 to July 31. 47,611,406 39,230,606 36,525,606 35,069,906 85,5*8,870 84,974,170 Gross earnings Operat'g expenses 33,151,686 28,916,125 <!6,285.425 24,776.825 26,588,683 25.768.988 Net earnings.. 14,457,881 10,314,481 10,240,181 10.293.081 8,975,187 9,206,187 There has been no change in the official rates of discount by the banks at any of the European centres Open market, or unofficial, rates at Lonthis week. don have been somewhat sensitive to the movements of exchange in our market, but at other centres the discount rates have remained steady to firm. The statement of the New York Associated Banks last week showed an increase of $5,091,500 cash, of which $4,608,300 was specie and $483,200 legal tenders. The loans were increased $2,518,700, carrying this item to $817,402,300, or the highest on record, while there was a gain in deposits of $7,038,500, to $901,356,300, against $914,810,300 March 4 1899, the maximum figure reached. The surplus reserve was increased $3,331,875, now standing at $23,888,925. Though the payments at the Sub-Treasury in this city of checks for the redeemed extended 2 per cents have been smaller than they were last week, they have the cost of the new rails. Of course a similar advantage will not exist the present year. On the other nevertheless contributed to augment the cash in hand the expenditure on the equipment in the late the banks. The payments on account of the reyear ($618,311) was equal to 11*8 per cent of the en- demption of the 2 per cents in the six days August 31 were $1,872,282 36, making ending been with those of last week $7,177,190 70. The total through these and previous years' outlays, thought it is redemptions reported from Washington up to the brought to a high standard of efficiency, the equipment can now be maintained with reduced close of business on Thursday, which included the above, were $17,238,850 of the outstanding $25,364,expenditure. 500 when the call for redemption was issued May 18. of month the return for Railroad Pennsylvania The The applications for the exchange of fundable bonds July has been issued this week. As expected, the into the new 2 per cents amounted at the close of gains are now becoming smaller, but any gains at all business on Thursday to $330,421,050. must be regarded as satisfactory considering the exMoney on call, representing bankers' balances, has tent of the improvement a year ago. In July of 1899 lines of Eastern gain in gross on the uniformly loaned at the Stock Exchange during the there was a $919,400 and a gain in gross on the Western lines of week at 1£ per cent and at 1£ per cent, with the bulk tire cost of the same. Rolling stock having thus, making together $1,678,600. The present of the business and the average at 1£ P© r cent. Banks year for this month there was a further increase of and trust companies quote 1£ per cent as the mini$708,400 in gross on the Eastern lines, which cer- mum. It may be observed, however, that bank money tainly is a satisfactory addition, but there was usually stands undisturbed, and for this reason it is Bora small decrease ($52,900) on the Western lines, regarded in the nature of a short- time loan. making the gain in srross for the combined rowers are willing to pay a higher rate than they system $655,500, following the gain of $1,678,600 last would if they expected to return the money the year. The decrease on the Western lines may be sup- next day, and in many cases banks obtain 2 per cent posed to reflect the shutting down of iron and steel for such accommodation. Where bank balances are plants, and also in part, no doubt, it is to be ascribed left unemployed toward the close of the day they are to the very poor winter- wheat crop raised the present offered on the Stock Exchange and loaned at the ruling season in the Middle Western States. Augmented rate of 1£ per cent. There is little or no business expenses are a feature of the returns both on the in time loans. The transactions in stocks are of such Eastern and the Western lines; for example, on the limited volume on the Stock Exchange that commisWestern lines the loss of $52,900 in gross has been at- sion houses require very little money for short periods $759,200, v tended by expenses enlarged in the sum of $224,300, producing a decrease of $277,200 in net. Oa the Eastern lines the addition to expenses has been $325,100, leaving $383,300 gain in net. Subtracting from the latter the loss in net of $277,200 on the Western lines, we get $106,100 as the gain in net on the combined system. Last year in July it is proper to say, the combined gain in net was $461,100. The following furnishes a six-year comparison and such requirements will, it is regarded as probable, continue to be easily met in the call-loan branch of the market. In some cases borrowers are somewhat anxious to make provision for periods beyond the election, and therefore about the only business done is for four to six months. Quotations are 3 $ per cent for sixty to ninety days and 4@4£ per cent for the abovenoted longer periods on good mixed Stock Exchange collateral. The market for commercial paper is chiefly for the lines east of Pittsburg the only portion of the confined to out of town, city banks doing little or system for which we can make such a comparison. nothing and reserving their funds for the accommo- — ... THE CHRONICLE 416 dation of their customers. The bulk the business The supply of of [Vol. LXXI, $1,346,425 in part settlement for this gold, It was announced yesterday that the Moana, which left Syddone is with buyers in Western cities. paper is good, with some very acceptable names offer- ney, N. S. TV., August 29, for San Francisco, has The Canadian Bank of Coming, and there does not appear to be any accumulation. $2,750,000 in gold. merce enday has ninety received Rates are 4@4£ per cent for sixty to $1,000,000 and the Bank of British dorsed bills receivable, 4f@5£ per cent for prime, North America $500,000, during the week, in drafts with fully 90 per cent of the sales at 5 per cent, and representing Yukon gold deposited at Seattle and at 5@6 per cent for good four to six months single names. San Francisco for their account. Nominal rates for exchange have been uniformly Military operations in South Africa have been active maintained by all drawers at 4 85 for sixty-day and during the week. On Sunday General Roberts en- 4 88£ for sight. Rates for actual business opened on gaged the Boers over a perimeter of nearly thirty Monday at a decline of one quarter of a cent all miles, resulting in the capture of General Oliver, com- around, compared with those at the close of business manding the Boer forces atjWinburg. On Monday on Friday of last week, to 4 84 @4 84^ for long, the British defeated the Boers at Machadodorp, the 4 87i@4 87f for short and 4 88@4 88i for cables. enemy retiring with the loss of their guns and ammu- The tone was easy and it so continued on the follownition. Owing to the nature of the ground and the ing day, though then the only change in rates for advantageous positions occupied by the Boers, offensive actual business was a, fall of one- quarter of a cent in operations are reported difficult. The news from long, to 4 83f@4 84, short and cables remaining unChina indicates an early withdrawal of the allied changed. The market was steadier on Wednesday. troops from Pekin to the coast, in order to give On Thursday rates for actual business in long adopportunity for the return to the Chinese capital of vanced one- quarter of a cent to 4 84@4 84£, while the Empress Dowager, the Emperor and the members short and cables remained unaltered. The tone was of the Tsung-li-Yamen and the opening of negotiations steady to firm on Friday, and actual rates for long between the Powers and the Chinese Government. and for cables advanced one- quarter of a cent. The The Bank of England minimum rate of discount following shows daily posted rates for exchange by remains unchanged at 4 per cent. The cable reports some of the leading drawers. bank bills discounts of sixty to ninety day MON.. Tubs.. Wed., Thtjr.. FBI.. FBI.. The open market rate in London 3f per cent. Aug. 24. Aug. 27. Aug. 28. Aug. 29. Aug. 30. Aug. 81. 85 85 85 86 86 4 85 at Paris is 2f per cent and at Berlin and Brown Bro. 488% 88% 88% 88% 88% 88% Frankfort it is 3f per cent. According to our Baring, 60 days. 4 85 86 86 85 85 85 88% Magoun & Co.. Sight... 4 88% 88% 88% 88% 88% special cable from London the Bank of England Sank British 85 86 85 86 85 60 days. 4 85 Sight... 4 88% 88% 88% 88% 88% No. America,. 88% gained £2,014,821 bullion during the week and held Bank of 85 85 60 days. 486 85 86 85 {&& < { ( . ( J £35,370,220 at the close of the week. Our correspondent further advises us that the gain was due to the Canadian Bank of Commerce. Heldelbach, Ickelhelmer & Co. . 88% 88% 88% 88% 60 days, 4 88% 4 85 88% f 85 85 85 85 85 < Sight... 488% 88% 88% 88% 88% 88% ( 60 days, 4 85 86 85 85 86 35 4 88% Sight... 88% 88% 88% 88% 88% import of £1, 948, 000, of which £1,898,000 were 8 485 85 86 85 86 85 GazardFreres...!! 4 88% 88% 88% 88% 88% 88% bought in the open market, mostly from United States, 60 days 4 85 85 Merchants' Bk. 86 85 85 85 •>f Panada JSieht.... 4«8« R8W 88% 88% 88% 88% and £50,000 from Australia, to the receipt of £92,000 net from the interior of Great Britain, and to £25,000 The market was firm on Friday, with rates for exported to the Cape. actual business 4 84^@4 84£ for long, 4 87^@4 87| for The foreign exchange market has been moderately short and 4 88|@4 88£ for cables. Commercial on banks Influenced by lower discounts in 4 83f@4 84 and documents for payment 4 83£@4 84^. active this week. London early in the week and by fairly liberal offer- Cotton for payment 4 83^@4 83£, cotton for acceptings of commercial drafts against cotton and grain, ance 4 83|@4 84 and grain for payment 4 84£@4 84£. 1 ^ ; ( long sterling declined and at the same time short sterling grew easier in the absence of demand for remittance. Later, discounts in London recovered, and The following gives the week's movements of money to and from the interior by New York banks. Received by Shipped by Net Interior was reported that the Bank of England had renewed Week Ending August 31, 1900. Movement. If. T. Banks. N. T. Banks. its offer of advances, free of interest, on gold in tran15.487,000 Gain. 12.151.000 13,336.000 sit, indicating some urgency in the demand for the (.44.000 480.000 Gain. 1,124,000 metal. Concurrently there was an inquiry to remit for Gain. $6,611,000 12 631.000 J3,9S0,000 stocks sold for European account and for coupon and Result with Sub-Treasury operations other settlements, and the whole market gradually Into Out of Net Change in Week Ending August 81, 1900. Banks. Bank Holding*. Banks. grew firmer. Though the above-noted action by the Bank of England might influence exports of Banks interior movement, as above f 6.61 1,000 $3,980,000 Gain. (2.631.000 20.000,000 Gain. 2,200,000 22,200,000 S nb-Treasur y operations gold were rates for exchange to advance, it 121.811000 123.980.000 Gain. 14,831.000 Total gold and legal tenders. regarded as unlikely that shipments will be is The following table indicates the amount of bullion made unless there shall be the additional inducement in the principal European banks. of the payment of a higher price than is now offered August 30, 1900. August 81, 1899. The cotton bills which have come for the metal. Bank of Gold. 8Uver. Gold. Bilver. Total Total. upon the market this week are against shipments of X * * X 4 * the new staple and moderately large amounts of grain 36,370.230 85,733.546 35,738.848 35,370,220 Angland Receipts of gold at the Cus- franoe bills have been offered. 89.998.194 45,455,230 135.453.424 77,076,118 47,900,606 124.976,724 29,371,000 ie;i8i.ooo 44,502.000 87,297.000 14,062,000 41359,000 tom House during the week, $31,761. The Assay Germany 78,898,000 7,655,000 86,553,000 94,314,000 5,255.000 99,599.000 it tiussia paid $829,777 43 for domestic bullion. The Mariposa, which arrived at San Francisco on Friday Office of last week, brought $1,750,000 gold from Sydney, The New York Sab-Treasury yesterday paid San Francisco Mint checks to the amount of N. S. W. A as. Hnng'y. 87,724.000 Spain 13,680,000 16.902.000 Italy 15,438.000 1,669,000 Netherlands.. 4,870.000 5,922.000 Sat.Belgm... 8,811,000 1,405,000 9,972.000 47,696,000 30.609,000 10,60S,000 30,591.000 18,960.000 13,^92,000 17,107.000 15.620.000 1,394.000 8,742.000 6.030.000 10.792.000 2.8H4.000 1,447.000 4,218,000 41,202,000 26,662,000 16.923,000 8.781,000 4,341,000 lot. this week 308.169.414 104111230 412,280.644 299,174,664 100302606 J99 567.870 Tot. orev. w'k 305.6(10 881 103"544«4 400.061.881 300.3*5 »m IO1H74R40 403.840 f September 1. THE CHRONICLE. 1900.] AMERICA, RUSSIA AND It is possible that the highly interesting diplomatic incident in the Chinese crisis which has come to light this week will turn out to be the solution of the com- plex situation. itself or United under reasonable limitations, its policy would be governed by that of Great Britain and the United States. It seems to us, therefore, that the prospects of a in the direction of peace has, peaceful solution of this complicated affair are bright- The overture States for joint action with the assistance of other Powers. France, it has been assumed, would co-operate with Russia. As for Japan, it is taken for granted that, China CHINA. 417 of Russia to the advanced the situation to a point where ened more than could have been expected by Russia's move. The suggestion of that Government that the it is possible to see light ahead. That the diplomatic position was radically altered allied troops be withdrawn from Pekin, and that Li from the moment of the rescue of the ambassadors, Hung Chang be recognized as Plenipotentiary, is was evident to everybody. That single object having open, doubtless, to more than one explanation. Rusbeen accomplished, nothing remained to assure unan- sia, for one thing, has diplomatic reasons for taking imity of purpose on the part of the Powers. Nothing a position which, in case of a restitution of the had ocourred to dispel the uncomfortable misgiving Chinese rulers, would give it the right to claim the This supposition, we are aware, that some, at least, of the European governments position of a friend. China until they stay in could were planning to oc- conflicts with the lately prevalent theory that the two cupy permanently their slice of Chinese territory. It Powers were technically at war. But the situation was commonly reported that Russia, whose Asiatic do has now changed rather radically, and it is only minions had been actually invaded by the Chinese, re- reasonable to keep in mind the continuous diplomatic garded itself as openly at war with China, and the policy of Russia, for some years past, to ingratiate movement of Russian troops into Northern Manchu- itself with the existing^Chinese Government and keep ria was rather generally accepted as the first step in in touch with the administration at Pekin. It is an outright seizure of territory. Germany oocupied, quite possible, also, that Russia, emerging from a and still occupies, a peculiar position because of the series of bad agricultural seasons and trade reaction, murder of its ambassador. Emperor William's im- and burdened with several large financial enterprises pulsive speeches to his soldiers could hardly be inter- in Northern Asia, may have strong personal reasons preted except as pointing to his intention of carrying for wishing to avoid a prolonged campaign. If either on a prolonged and aggressive campaign against of these motives exists, or both of them, we hardly China, and in Germany they were quite universally see how the situation can be affected for the worse. accepted as meaning that. Japan was well understood On the face of things the overture of the Russian Govto be smarting under the loss of the fruits of its vic- ernment in behalf of peaceful negotiations with China tory over China in 1895, and to be disposed to make is scarcely compatible with the idea of immediate and the most of its present opportunity. Aside from forcible seizure of the Northern Chinese provinces. these particular points of doubt, it was quite possible The difficulties of the situation do not end, of course, for any nation whose citizens and property had been even in case the Powers agree to enter on negotiations attacked in China to assert its claim to an indemnity for a settlement. Even the United States Governand announce its purpose of seizing and holding Chi- ment has stipulated, in its circular letter of July 10, nese territory until the indemnity was paid. that for " wrong done to our citizens we propose to The Russian proposition, forwarded to Washington hold the responsible authorities to. the uttermost on August 14 and published last Thursday, simplifies accountability." The British Government has not the situation very greatly. The Russian note to the committed itself as to whom it deems to be the United States, published in full yesterday, bluntly authoritative Chinese Government, and Mr. Brodrick, declares that Russia, having "no designs of territorial in his speech of Wednesday, was careful to stipulate acquisition in China," and having advanced into that the Government, "while prepared to preserve Northern Manchuria purely "for military purposes," British trade with China, will claim some penalty or will retire its troops both from there and from South- indemnity for the damage wrought." The problem ern China, provided the other Powers acquiesce, and of indemnity cannot be avoided, and it is difficult to will await resumption of diplomatic relations with a see how that problem can be kept wholly distinct new Chinese Government. Russia's appearance in this from the question of territorial claims. The doubts at all events, is clearly of the highest importance, not only because the intentions of that Government had been role Government over the actual status of the Government of China foreshadow demand for of the English most doubtful, but because its announced adherence action in the case of the Empress, who is in many to the policy of peace throws so great a weight into quarters held guilty of complicity with the Boxer rethe balance against aggressive hostilities as to make bellion. The jealousy between England and Russia probable an early settlement of the trouble. Prac- in Chinese diplomacy has caused some not unnatural tically, this action commits to the policy of peaceable irritation in Great Britain on the first news of the adjustment all the Powers but Germany. The United "entente" between Washington and St. Peterburg, States Government officially, early in the episode, de- and the diplomatic traditions of the two governments clared its purpose of restricting our own military oper- may cause some clash in later negotiations. This is a ations wholly to "rescuing the American officials, diplomatic pathway full of pitfalls; nevertheless the missionaries, and others who are in danger," and first step, it appears to us, has been wisely and for"affording protection to American life and property." tunately taken. Mr. Brodrick, the British Under Secretary of State The position of the United States is to a considerfor Foreign Affairs, and the spokesman of the Foreign able extent defined by the wish of our Government to announced last Wednesday that Great fulfill at the earliest possible date the pledge of its " prepared to support the loyal viceroys original declaration of policy, and withdraw its troops of South China who have stood aloof from this insur- from China. Probably the Administration would rection," and that it could not undertake to govern prefer to have this question settled, or at all events Office, publicly Britain was — THE CHRONICLE. 418 our country's relation to it assured, before the politiThis is a natural and reasoncal campaign is over. able wish, because, in the heat of an electoral canvass in which the issue of Imperialism already has become prominent, the presence of American troops in China is likely enough to be seized upon as an argument by some of the opposition. The argument could not be employed with fairness, because the necessity for the despatch of American troops to Pekin was recognized unanimously by our people, and because, also, intelligent public opinion is unanimous in approving the policy of our State Department throughout the As a first step to the holding of Chinese crisis. responsible authorities accountable for the mischief done, it was necessary to establish diplomatic relations Li Hung Chang was for with some Chinese many reasons the obvious intermediary in such nego. tiation; indeed, it will be remembered that our Government officially declared, in the note of July 10, long before any accrediting of Li by the Empress, that *'so long as the local provincial authorities are not in official. overt collusion with rebellion, and use their power to protect foreign life and property, we regard them as representing the Chinese people, with whom we seek peace and friendship." This declaration, it seems to was inspired by remarkably sagacious foresight of the very situation which has now arisen. The fact that our Government thus declared itself six weeks ns, ago makes present attitude perfectly consistent. It does not by any means follow, in our judgment, that by entering on peace negotiations we commit its ourselves in advance to any distinct arrangement. The fact that Li Hung Chang, with whom we negotiate, bears the credentials of the Empress, does not estop the United States, or any other Power, from subse- quently demanding her removal. To submit to a ruler terms of peace, conditioned on his own abdication, is nothing new in diplomacy, and in this very phase of the matter it is most fortunate that our Government, itself" disinterested, is now cooperating frankly and cordially, not only with Great Britain, but with Great Britain's diplomatic rival, Russia. The United States certainly does not, by its co-operation with Russia in this first step for rehabilitation of order in China, commit itself to any ulterior plans of Russia. Least of all does our Government surrender one jot of its original demands for equal trading rights in the Chinese ports and an "open door." In assuming such consequences some of the London papers yesterday fall into a wholly needless error. So far from making any such concession, the relations now established between the United States and Russia are such as to make a future American demand for fair play in trade with China far more imperative than a mote from Downing Street. This is the best imaginable guaranty of good faith among the Powers and harmony of purpose. Germany, and Italy along with -of ultimate it, will doubtless still stumbling-blocks in the nebe regarded Under present circumstances it is imgotiations. as possible portant to keep in mind two responsible public declarations of policy made on July 12, two days after the On that day Count Von announced, in behalf of Germany, Biilow that " we desire no partition of China and seek no special advantages." On the same day Italy's Foreign Minister declared in the Chamber of Deputies that " the Cabinet has no political intentions towards expansion or intrigue in China." American note was officially issued. [Vol. LXXI. SOUTHERN RAILWAY REPORT. As each additional annual report of the Southern Railway Company comes to hand and shows a continuance of the progress which has marked the affairs of the concern almost from the day of its organization, one is impressed anew with the wonderful results that have been accomplished. The Southern Railway, as is known, is successor to the old Richmond & West Point Terminal combination, and the reorganization was the work of J. P. Morgan & Co. or (as the firm was then known) Drexel, Morgan & Co. Mr. Morgan's whole life has been devoted to the work of rehabilitation, either in the railroad or the financial world. But we are sure he never had a more difficult, a more complex and apparently a less promising task than when he undertook to put the peculiar and discredited assortment of roads making up this system in a condition where it might render effective transportation services to the public and net some small return to the discouraged owners. Others would have shrunk from the task in fact they all did draw back, several attempts at reorganizing the concern having previously failed, so that in common accord every one turned to Mr. Morgan as the one person who could carry out the work of reorganization with any assurance of success. When the firm finally agreed to formulate a scheme, the obstacles to be overcome seemed almost insuperaThe late Mr. C. H. Coster, to whose lot it fell ble. to arrange the reorganization, gave his time to the work day and night. It is testimony to the wise way in which things were planned that, from the wreck of the Richmond Terminal confederation, there has arisen one of the strongest systems of the day; for the Southern Railway, as it stands to-day, is certainly deserving of the appellation of a "strong system." Its financial condition is of course of the best. But physically it has the remark of all those been reconstructed. It is who travel over the system that the transformation in It this respect has been as complete as in the other. must also be considered to have been a happy move to have placed such a capable management in charge of the property as those who Everyone will have been in control of its affairs. also recognize the benefit to the security holders that has accrued from the reorganization. But has not the whole South also been equally benefited? Who can estimate the advantages that have resulted from the improved services that the road has been able to give as the result of its reconstruction and rehabilita- tion ? The transformation, too, came at a most opportune time, a time when the South was on the eve of an industrial development exceeding anything ever known in that part of the country and a development which the Southern Railway has done so much to promote. Since the Southern Railway was formed, its mileage The new additions has been very greatly enlarged. seem to have been secured on advantageous terms, and hence its prosperity has increased rather than diminOn June 30 1895 the system comprised 4,392 ished. On June 30 19C0 it embraced no less miles of road. In both 1893-4 and 1894-5 than 6,431 miles. mileage fell short gross earnings on the old 1899-1900 dollars. For the total of 18 million on an average of 6,306 miles was over 31 million In the late year alone the increase was $5,dollars. September THE CHRONICLE. 1, 1900. J President Spencer, to whose skilled management so much iB due, presents a table in the report giving a comparison between the last two years 847,183. — on substantially the same properties that is eliminating from the comparison the differences arising from the changes in mileage, nearly a thousand miles of road having been added during the late twelve months. This comparison is useful as showing how much of the expansion in revenues in this particular period has followed from a growth in from an increase in extent of road operated. and not In brief, found to have traffic the gain in gross earnings in this way is been over 3£ million dollars ($3,504,690), or 12-65 per In the net the further improvement on the cent. same basis was $800,119, or 9*34 per cent. A measure of the company's prosperity is of course 419 return that has accrued to the security holders from this expansion in the income of the company has been in the payment of the 6 per cent dividend on the small issue ($3,500,000) of class for $210,000. The remainder "A" debentures, calling of the additional profits went to improve the physical and financial condition of the property, such improvement counting obviously as a substantial advantage to the security holders, even though they got no return in the way of income. Of course there was at no time any thought of a dividend on either class of stock, but it was supposed not unlikely that some payment might be made on the Class B debentures, whose outstanding amount is But from the report now submitted it $26,500,000. is apparent that, owing to the company's needs, such a payment was out of the question. Furthermore, a found in the surplus reported for the twelve months critical survey of the situation makes it evident that after allowing for expenses and all fixed charges. there will have to be a further substantial increase in This surplus for 1899-1900 is given as $2,917,251. earnings before these debentures can hope to receive The corresponding surplus for 1898-9 was $2,094,519 dividends. and for 1897- 8 it was but $1,007,013. At $2,917,251 As we have before pointed out in these columns, is a weak point in the affairs of the Wabash which the $60,000,000 of preferred stock is entitled. Railroad. It occupies a strong position in the heart The payments of dividends, however, out of the year's of the country and has been well managed, but those earnings will aggregate only $1,800,000 (1^ per cent administering it are seriously handicapped by a depaid last April and 1£ per cent to be paid the coming fect in its financial organization. When the property October), thus leaving a balance of $1,117,251 to be was reorganized in 1889 not enough heed was given carried forward to the credit of profit and loss. to the future, and no provision made for capital recompany are stalled The accounts of the with great quirements from year to year. In all the more recent clearness and also with great fulness. The liabilities reorganizations of railroad properties this point has of every character of all subordinate companies been carefully looked after, and a reserve in bonds operated as a part of the system, whether leased or provided which can be availed of from time to time as owned, are shown in the balance sheet, and treated as there may be call for it. Not so in the case of the liabilities of the Southern Eailway. All changes in Wabash, which is practically helpless in that regard, debt, in mileage, in construction, etc., are set out in having no bonds it can put out to raise money for addetail and at length. The company has no floating ded capital, except where a new line may be built debt, and has had none since its organization. and a specific lien on such line can be issued and disThe payments for new equipment during the year posed of, as happened with the Des Moines Division. amounted to $1,568,968. Of this only $137,368 was If additional equipment or track or other facilities charged to capital account, all the rest being charged are required, the management hence have no recourse the surplus is equal to almost the full 5 per cent to there to operating expenses or to reserve accounts created except through charges to expenses to provide for equipment renewals. These heavy expenditures for new equipment charged to expenses reflect, the report tells us, the company's policy of improving the condition of its rolling stock and of increasing the average capacity of its freight cars and the average efficiency of they locomotives without increasing its capital account. Aside from the $137,368 charged to capital account for new equipment, the only other charge to that account was $620,727 for construction and real its making a little over three quarters of a million as the total charges to capital account during the year. The company is still in need of more equip- estate, to are and thus use earnings for the purpose available; if not, to up a floating always objectionable burdened with a debt of this course is run —provided borrow on notes, debt. This latter The Wabash was kind in the depression of a few years ago. Doubtless such debt could, in large part at least, have been avoided, if the management had not felt it absolutely essential to adhere to its policy of making extensive improvements and betterments in order to bring the property up to the high standard of competing lines. At all events, when times improved and earnings expanded, the first opportunity was taken to get rid of the floating obligations; and this is the fact to which we have ment, and provision has been made for the lease and reference when we say that the position of the comultimate purchase, under a car-trust plan, of 83 loco- pany is better financially, as well as physically, than motives, 3,450 freight cars, and 50 passenger, baggage a few years ago, and that the junior securities have and express cars, deliverable this year. correspondingly more merit, even though no dividends are paid on them. POSITION OF WABASH RAILROAD. Having so recently disposed of the burden of a Like practically all United States railroads, the floating debt, it would obviously have been folly to have Wabash had a very successful year in the twelve months incurred a new one. Nor, having due regard to the to June 30 1900, but unlike most other roads its en- exigencies of competition and the future of the Walarged income did not enable it to distribute any con- bash property, could the management have called a siderable extra amount among its security holders. halt on the policy of providing needed additions and During the last two years the gross earnings of the improvements. As President Ashley well says, this company have risen (in part, but only in part, as the policy demands the completion of plans for bringing result of the opening of its through line to Buffalo) the physical condition of the Wabash system up to the from $13,207,862 to $16,440,990. The only direct standard of first class lines, and to provide rolling THE CHRONICLK 420 [Vol. LXXI stock adequate to meet the requirements of a con- age made on the Wabash lines during the year of 185 Inability to comply with million miles, almost 105 million miles was made by stantly increasing traffic. such demands would diminish the competing power foreign cars and only 85 millions by Wabash cars. On Under the other hand the mileage made by Wabash cars on of the Wabash in the ratio of the deficiency. these circumstances the Directors, he states, have not hesitated to authorize liberal outlays from earnings in order to enable the lines of the Wabash to other roads was less than 40 million miles. At the same time it is significant of the great expansion which has occurred in the company's traffic that this is compete with other first-class systems. The propo- the situation, notwithstanding the capacity of the sition, he well says, reduced to its simplest form, freight equipment on June 30 1900 was 348,837 tons, presented the alternative of losing instead of gaining against only 235,074 tons on June 30 1889. We stated above that it appeared likely that a furtraffic if the requirements of shippers could not be ther substantial increase in earnings would have to met. The direct deduction from income during the year take place before dividends could be counted upon on This conclusion is based on the for additions to property is given as $223,664, which the Class B bonds. would not be a very large item standing by itself. fact that the cost of the 3,500 new cars will all, it After taking that sum out, the surplus for the twelve would seem, ultimately have to come out of earnings. months, above the requirements for charges and the At $700 per car, the 3,500 cars would cost in the neighdividends on the Class A bonds, is only $210,099, borhood of 2£ million dollars; payment is to be made which latter sum is not quite equal to 1 per cent on in 72 equal monthly notes, though the company has the $26,500,000 of Class B bonds. In view of the com- the option of anticipating the payments if a new pany's peculiar position as concerns capital require- method of financing the operation should be dements, as explained above, the management evidently sired. We have shown above how heavy the outlay acted with prudence in not undertaking to make any was for new cars in the late year. On account of the Of course, in purchase referred to the requirements the current distribution on the debenture B bonds. addition to the $223,664 charged as a separate item year will be still heavier. Mr. Eamsey figures that against income, large amounts were appropriated for the increase will be $21,117 per month, which would betterments and improvements and included in ex- make a little over a quarter of a million dollars inpenses. We shall not undertake to analyze the crease for the year. In the operating department excellent results are seeing to the view with accounts expense being attained. For instance, in the late year the how much increase has occurred under each head in comparison with similar outlays for the year freight train mileage was actually reduced slightly, preceding. The work of improvement has been going though the road moved 257 million tons more of freight on for a long time, and hence a comparison of the one mile. The following will show what has been latest year with the year preceding would fail to show accomplished during the last few years in the way of the full extent of such outlays, since the movement increasing the train-load and augmenting the earnings has been a progressive one. A few citations, however, from the report will serve to give an idea of how really extensive this work was in the late year. of the freight trains. The Wabash realizes very low the average per ton per mile the last two years having been 5*58 and 5*53 mills respectively, and atrates, amount spent for repairs of engines tention is called in the report to the fact that the (including $197,261 paid for new engines) was only earnings per ton mile are now less than the cost of Thus the total In exact figures it rendering the service per ton mile in the year ending was $996,769, which is equal to $2,323 per engine for June 30 1895. Miles run Bate per Earnings 429 engines, the average number on hand during the Tons by per train Train ton one mile. trains. per mile. mile. load. twelve months. Nothing is needed beyond the an5-58 mills 1900. .1,902,881,278 291 7,075,158 $1 50 nouncement of this average per engine to indicate 1899. .1,666,830,054 5-53 " 255 129 7,101,324 6-24 " 216 6,306,504 135 how very heavy the outlays here have been. Or take 1898. .1,365,693,174 a trifle less repairs of than a million dollars. cars (passenger and freight) on which $1,180,453 was spent in the late year, against $754,684 Vice-President Kamsey points in the year previous. out that the expenses of this department in 1899-1900 as in 1898-9 were away above the normal first, on account of the charging out of amount carried in suspense for new dining cars and coaches; second, putting on of safety appliances, couplers and air brakes, steam heat, &c; third, new freight cars, and, fourth, postal and combination cars. The total amount on account of these items, he states, was $741,557. In the case of maintenance of way we will not attempt to go into particulars beyond saying that repairs of track counted for $704,884 in the late year, against $598,224 the year previous and $593,001 the year before. The company last March gave contracts for 3,500 additional freight cars, which were to be delivered by September 1, and President Ashley lays stress on the urgent need there was for this added rolling stock. lie refers to the shortage of cars that existed all through the year. On that point, however, certain — statistics in the report are absolutely conclusive. instance, we find that out of a grand For total of car mile- 1897. .1,149,989,024 1896. . 1,218,785,3 V7 1895. .1,100,976,202 5,402,191 6,313,782 6,245,391 661 696 '« 1 " 134 7-21 " 1 40 27 213 193 176 Considering the difficulty under which the management have labored, the foregoing is really a marIn five years the train-load has been velous exhibit. raised from 176 to 291 tons and the trains now earn $1 50 per mile, against only $1 27 in 1895, though in the interval the rate received declined from 7*21 mills to 5*58 mills. ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S —The sales of which of bank stocks this week aggregate 45 shares, were sold at the Stock Exchange and 10 35 shares The sales of trust company at auction. of 45 shares, all sold at auction. Shares. Banks— i^to York. 10 Mercantile National Bank *10 Ninth National Bank Price. 200 80 Bank 188 Trust Com panies— A"ew> Vork. 20 North American Trnet Co 201 26 U. 8. Mortgage* Trust Co.... 450 *25 Oriental stocks reach a total Last Previous Sal(Aug. 1>>99— 194 1* 90 July 1900— Feb. 1900— 189 Aug. 1900— 203»» Mar. 1900— 510 'Sale at the Stook Exohange. —Quite recently the National Park Bank of this city hi an inquiry from Europe regarding the probabilities of su< cessfully placing in this conntry a loan for $10,000,000 c bonds issued by the Government of Sweden. Tbe bank a* September vised with its 1, 1900.] THE CHRONICLE. correspondents, but the results of such inves- The bonds which it is proposed to place in this country are dated August 15; they bear interest at the rate of 4 per cent per annum for ten years and thereafter at the rate of Z% per cent, and the Swedish National Debt Office, through which the bonds are issued, binds itself not to redeem the securities before August 15, 1920. The loan is created by the above-noted National Debt Office by reso. tigation are not stated. June 28 under authority of the regulations passed by the Swedish Diet on May 14, which regulations received royal sanction June 29. The loan is made largely with a view to the construction of railroads in the kingdom. The security of the bonds appears to be ample; the issue price of 98, the rate of interest and the term of the bonds would seem to make them desirable for investment, and the loan would proba. bly be a success should the National Park Bank undertake to place it. The bonds, it is thought, would be largely taken by natives of Sweden resident in this country. It is reported that the bonds were originally offered in London, but for some reason not assigned, though probably because of the offerings of domestic loans of more importance, the loan was lution of attention to the increase in the case of the larger institubut the smaller concerns have also been keeping pace For instance, we observe that the with the movement. tions, & Trust Company of Jersey City for People's Safe Deposit July 1, 1900, reports deposits of $1,500,894, against $1,278,293 on January 1, 1900, $1,066,347 on January 1, 1899, $759,279 on January 1, 1898, and but $437,050 on January 1, 1897. — The annual election of the Boston Stock Exchange is to be held on September 24. Mr. John Parkinson has been selected by the Committee on Nominations as a candidate for President, Mr. C. C. Jackson as nominee for Vice-President, and Mr. Sidney Chase for Treasurer. A year ago Mr. E. D. Bangs was elected President and Mr. Sidney Chase Treasurer. —Mr. C. F. W. Dillaway and Abbott W. Lawrence, formerly of Dillaway & Starr, have formed a copartnership under the name of Dillaway, Lawrence & Co., with offices in Post Office Square, Boston. IParajetarsii ®Bmmjwti&l^U8lishMzxvB [From our own correspondent.] not successful. —James Speyer, of the well-known banking firm of Speyer & Co., returned from Europe this week much benefited by his prolonged vacation. — The stockholders of the Continental National Bank of Chicago on August 23 voted on the"proposition to increase the capital from $2,000,000 to $3,000,000, to provide for the expansion in the bank's business. Out of the total of 20,000 shares, 18,274 were represented at the meeting and voted in favor of the resolution. —Another bank is to be organized in Cleveland, to be called Bank & Savings Company. A charter has been the Union issued by the Secretary of State, and it is expected that the new it stitution will soon start, with a capital of $200,000. The organizers are Henry C. Christy, President of the Colonial National Bank, of Cleveland; F. E. Dilley, Jacob A. Raugh Charles Babcock, John Rock, J. J. Phillips, all of Cleveland' and J. Sterling Morton of Bedford. It is stated stock sub' scripticns are to be limited to blocks having a maximum of $2,500 each. —According to the St. Louis " Globe- Democrat," East St, Louis is soon to have a trust company. The institution will be called the East St. Louis Trust Company, and will be $500,000. The men behind the enterprise have appointed Ex-Congressman W. S. Forman' M. M. Stephens and W. K. Murphy, of Pinckneyville, a committee of incorporation. East St. Louis is in Illinois, and the concern will be incorporated under Illinois laws. capitalized for it is stated, —The St. Louis " Globe Democrat " also reports that the stockholders of the Missouri Trust Company of Sedalia, Mo., met on Monday of this week for the purpose of voting on a proposition to increase the capital of the company to $1,000,and to remove the principal [office to St. Louis. The is now $200,000. Because of the failure to secure a suitable building in St. Louis, and for other reasons, the meeting was adjourned until Sept. 10. 000, capital —Mr. Arthur T. J. Rice, who for forty- five years was connected with the National Broadway Bank of this city, lost his life this week as the result of an accident while bathing at Brighton Beach. Mr. Rice entered the bank while quite young and advanced step by step until he reached the position of Second Vice President, from which he retired two years ago. He was also trustee of the Dry Dock Savings Institution. —Thomas J. Powers, Commissioner of Banking for the State of Pennsylvania, was killed by falling from a train in the outskirts of Philadelphia en Wednesday night of this week. Mr. Powers was appointed Bank Commissioner on and was well known all over the State of Pennsylvania. Captain John W. Morrison, Deputy Bank Commissioner, will remain in charge until a successor to Mr. March 1, 1899, Powers is —The appointed. Census returns show that Jersey City has a populaof 2C6,433, a gain of 43,430, or 26-64 per cent, since 1890. The city has a larger population than Deuver, Indianapolis, Kansas City and a host of other well-known cities. The growth in the operations of the banks and trust companies has been no less marked. We have recently directed tion now 421 London, Saturday, August 18, 1900. to the recovery in New York, the large shipments of gold from that city to London, the victorious advance of the^Allies upon Pekin, and the growing belief that the war in South Africa is almost at an end, there has been a very much more cheerful tone in the stock markets this week, and Business, however, has prices generally have advanced. Owing been very restricted. There has indeed been some more buying of American securities, but even in that department the general public is holding entirely aloof, and in other directions the volume of business has hardly increased. Everybody here believes that Mr. McKinley will be reelected, but for all that the public considers that it is better to wait until his re-election is assured, even if higher prices Moreover the war in South Africa have then to be paid has dragged on so long that people, though very hopeful, are still not sure that operations will be brought to an end very soon; and, lastly, the position in China is deterring operations. Even if active resistance by the Chinese Government ceases, it is evident that the reorganization and reform of China will be tedious and difficult. Up to the present, so far as the public is aware, the Powers are all working cordially together, and as long as military operations last it is hoped they will continue to do so; but when once diplomacy takes the place of military operations, there are fears that differences of opinion may arise and that many difficult if s may spring up. Owing to all these causes there is very little disposition to engage in new risks, and unfortunately the prospects of trade are not calculated to give very much encouragement. The dividends declared by British railway companiesjfor the first half of the year have been very disappointing, and the reports show clearly that there has been, and must continue to be, a very large increase in the working expenses. The increase is mainlv due no doubt to the rise in the price of coal and of railway materials generally, but partly also it is caused by the rise in wages, the shorter hours the men work, and the consequent increase in the number of men employed. The railway companies, to recoup themselves, have been making various charges which bring in very little, but cause a good deal of dissatisfaction, and at present negotiations are understood to be going on between the different companies for a general advance in rates. The expectation is that the negotiations will result in a general rise of rates, and if that happens it is feared that trade will be seriously checked. Already trade has undoubtedly received some check from the rise in the value of money, and still more from the high prices of coal and other raw materials. If railway rates are raised there will probably be a further rise in those prices, and all this will tend to have an adverse effect upon industry. There is a very great falling off in the new orders for ships, and in many other directions there are evidences of a diminution in activity. The great Lancashire industries are suffering, moreover, from the famine in India and the disturbances in China, and the wool trade has also suffered from the undue speculation in raw wool at the end of last year and the difficulties that have occurred in consequence, chiefly, however, upon the Continent. The large shipments of gold from New York caused a general decline in rates at the beginning of last week. Moreover, the Government has been making very large payments, which have added considerably to the funds in tne open market, and for a time it was believed that the Bank of England was itself beginning to repay loars it had previously made so as to get control of the market. The belief, however, was unfounded. The Bank of England has not been repaying loans; on the contrary, during the past day or two it has been borrowing further. The directors of the Bank recognize that it is no use to make arrangements for the import of two or three millions sterling of the metal from New York unless they take measures to secure the retention of the money when it gets here; consequently the Bank has begun to borrow again, and it is believed that it will go on borrowing until it makes the 4 per cent rate effective. At . ' .. 5 — 7 3 . THE CHRONICLE. 422 the same time some surprise has been caused by the fact that the Bank has not promptly secured £200,000 of the has metal imported from India. It is said that the been haggling about the price; and it is known that further sums could be obtained upon the Continent if the Bank were to exert itself. While, though, the Bank has raised its buying price for American gold and has given facilities for imports, it is not acting with equal promptitude in other directions. Still, it is thought probable that at least half a million sterling will be obtained from India, and that from a million to two millions sterling will come from Russia. It is said that arrangements are being made in Paris for a small loan of about four millions sterling to the Russian Government, but it is felt that in existing circumstances it will be impossible to float a large loan in Paris, and therefore it is concluded that the Russian Government will have to send very considerable amounts of gold to both Paris and London, not merely to meet the interest on the bonds held abroad and to pay for the munitions of war that it has purchased, but also to provide for remitting largely to the Far East. Altogether the estimate now is that within the next month or six weeks from four to five millions sterling in gold will be obtained by the Bank of England, but there will on the other hand be large outflows of both coin and notes from the B ink— probably five or six millions sterling between now and the end of October. Therefore, even if five millions sterling in gold are obtained from abroad, the reserve of the Bank of England will remain small, and it will be essentially requisite for the directors to take every precaution to protect the reserve. In Paris money is very abundant and cheap, but there is little prospect at present, at all events, of gold coming from that centre. In Berlin the liquidation of industrial securities is still going on. Trade has received a very considerable check speculation has been brought almost to a standstill, and consequently the money market is much easier than it was. It is hop3d now that the Imperial Bank will not find it necessary to raise its rate of discount, until the end of September at all events; but everybody recognizes that towards the end of September and throughout October there will be very considerable stringency. The best opinion is that the liquidation has gone so far that the stringency will be much less than it was last year, still, there will probably, none the less, be a good deal of stringency, and that is another reason why the Bank of England should take strong measures to protect its Bmk ; reserve. [Vol. LXXI. ©ormraetxtal nu& f&lBttllnn&ous Hetxrs Imports and Exports for the Week. the imports at New York for the week Subsequently about 3 29-32d. to Is. 3 31-32d. per rupee. Is. 3 were sold by special contract at Is. 3 15-lb'd. per rupee. The following return shows the position of the Bank of England, the Bank rate of discount, the price of consols, &c. 1900. Aug. 1899. 15, Circulation 8,ltf0,H6O Other deposits Government 12,068,110 20.037.S80 securities Other securities SO 10 ,' 01 Reserve of notes and coin 18.8S2.864 Coin & bullion, both departni'ta 80.859, ^fc9 Prop. reserve to liabilities.. d. c. 86J£ Bank rate 4 percent. Consols, 2M per cent 989i Stiver 281-lfld. 178.6;0,O0O Clearing-House returns Aug. 1897. Aug. 18 17. <g jg 80.361.9^ Public deposits 1898. Aug. 16 Jg 28,724,265 7.01R.084 40,674,370 18,0-4,858 30,184,743 22,272,573 34.196,838 28,012,030 7,802,908 42,440.103 For week. Dry Goods 38.807.23,-1 82,231.935 5,071,339 $1,«99,959 4,913,644 $1,044,337 5,917,827 89,779,774 $7,303,274 $6,613,603 $6,961,664 $80,109,553 277,846.115 $67,871,634 266,996,331 $62,442,000 221,343,303 $94,005,373 252,418,917 1. Dry Goods Gen'l mer'dlse Total 34 weeks $357,455,668 $334,867,965 $283,785,303 *346,424,290 The following is a statement of the exports (exclusive of from the port of New York to foreign ports for the week ending Aug. 27, and from January 1 to date. BXPOBTS FROM NEW YORK FOB THE WEEK. specie) For the week.. Prev. reported 1899. $13,135,690 377,486,380 $7,762,556 291,224,904 Great Britain, France Germany. West Indies all Mexico South America All other countries. Total 1900. Total 1899. Total 1898. $30,627 $47,133,514 25,800,737 544.453 5,301,170 lis^ 24J*d. 171.729.000 GreatBritain France Total 1900. Total 1899. Total 1898. daily closing quotations for securities, etc., at Londor are reported by cable as follows for the week ending Aug. 31. London. Sat. Tut*. Wed. 28 Me 97 8 285 16 285 18 9g3a 983s Thurt. Frt per ounoe d. Consols. new, 2 \ p. cts. , For account 281* 97'5, fc 98 Fr'oh rentes (In Parts) fr. 100-70 Spanish 4s 7138 Anaconda Mining Atoh. Top. & Santa Fe.. Preferred 9 2778 7138 Baltimore & Ohio Preferred 73% 81k Canadian Pacific....... Chesapeake <te Ohio Chic. Mil. & 91ifl 28 Paul... 1163s Den. Rio Gr., com.... 1914 Do do Preferred. 683a Erie, common 1138 1st preferred 340s 2d preferred 17 Illinois Central 119ia Louisville & Nashville.. 73»a Mo. Kan. &. Tex., com.. 10*8 Preferred 3134 N. Y. Cent'l & Hudson.. 132ia N. Y. Ontario & West'n 21i? & Norfolk Do St. & Western 3i\ do 77ifl Northern Pacific, pref, com. Preferred Pennsylvania *Phila. ARead *Phlla. & Read., 1st pref •Phila. Read.. 2d pref Southern Paolfio tjouth'n Railway, com. & Preferred Union Paoiflo Preferred Wabash, preferred. Deb. "B" * Price per share. 52 73 66k 8*4 30k 1434 97i5 1f 98 98 715s 71 00P2k 10075 9 27 73k 81k 91k 73 28 11534 19k 68 k Ilk 34k 17 H9k 73k 1038 31% 132k 2138 34% 77k 7 51 73 8 65*8 8% 30 k 140b 34 k 34 Ilk 113a 53 k 53k 60 k 78 1*% 33% 8 9 2788 7158 5g 7lk 8lk 913a 27 k 115 19k 68 k Ilk 3438 17 119k 72% 287 ia 287 le 985 1R 98k 98> 16 98k 00-77k 00-7 2 k 01-oo 72 9 28 k 71 8 73 k 81k 91k 275a 11538 19k 68k ilk 34k 17 119k 73 103s 1138 31k 31% 132 132 213s 213s 34k 77k 51k 72% 65% 34 k 77 k 858 8k 30 k 30k 14k 33k Ilk 53k 59'e 7734 596a 18% 33% 18k 33% 78 $1,154,700 $32,309,470 590,800 4,450 E 15,420 298,806 72k 72 k 28 28k 9k 34 72% 74 8ik 9ik Borough of Manhattan, Eleventh Ward.... Fourteenth Street. aansevoort Hamilton Mutual 5934 Brooklyn. Bedford. Broadway Brooklyn Eighth Ward. 68 34 113s 1138 Mechanics 3ft 3s Meoh's' 35k 17k 11934 7iJk 10k 81k 132% 17k 119k 73% 10k 31% 133k Fifth Manufaot'rs' Nat'l. National City People's Schermerhorn Seventeenth Wa*d Bprague National. TVenty-slxth W'd. 2168 Onion 65% Bank 85s x:9k 14k 34% Ilk 53 k x58% x76k 19 34 k H°8 29 H, 1438 34% Ilk 53 38 58 k 76 k 18% 84 Traders' North Side 3> 77 k 52 78 52k <fe Nassau National.. 35k 77 k Avenue Kings Countv 21 5e 65 78 77% 18k 33% 9138 Yorkville Washington. Borough of 28 65 k ilk 53k 81k Twelfth Ward Twenty-third W'd. Union Square 116k lwk 68% 73 14k 72 k 73 78 Plaza Riverside State 27 k HH3g 19k 51% 72% 34 9k $59,514 965 $2,149 52,132 2,628 160,408 1,837,295 55,314 14,655 475 $1,170,595 $33,273,495 947,667 30,908,6?9 1 1*>8.871 29.488.628 563,978 190,833 $54,281 31,712 64,224 $2,815,621 2,470,861 l,f 80,071 Deposit, with Loans & Invest- Specie. Net Other Deposits Agent. Bks.Jcc ('Uar'g New York City Nineteenth Ward. Sliver, Since Jan.l, Week. ments. Mount Morris Mon. $1,588,326 8,784,758 72,350,172 Reports of Non Member Banks.—The following is the statement of condition of the non-member banks for the week ending Aug. 25, based on averages of the daily result. We omit two ciphers f00\ in nil rates. ColuruMa The 1 Imports. Since Jan. 1. Week. Colonial English Financial Ittarbetn— i*er Cable. $11,531 11,452 389.974 1. $93,996 254,760 325,884 232,654 211,532 398,825 70,675 $1,141 4,137 6,250 Exports. tal. 161.508. >00 Since J an. Week. Silver. Capi- 27Md. 1, $19,029,720 17,664,481 4,500,709 1,895,413 $500 95,810 30,127 3,771,855 175,526 BANKS. 2J< Since Jan. Week. (008 omitted.) 47^ Import*. Exports. Gold. 18.220,980 110^ 2:^4. $7,078,527 $9,011,798 310,615,077 262,522,163 The following shows exports and imports of specie at New York for the week ending Aug. 25 and since January 1. BXPOBTS AND IMPORTS OF SPECIE AT NEW TOKK. 24.9i 5,308 8>$ 1897. Total 34 weeks $390,622,070 $298,937,460 $319,626,875 $269,600,690 26 4*0,W36 105^ 1898. 1900. 80,774,238 23,77^,837 84.9s4.867 t6 058,708 63 7-16 2 1897. $2,083 239 7,696,535 Qen'l mer'dlse Since Jan. 1898. 1899. 1900. 13,k58,"4.i 46 6-16 184.333.000 o 27,893.403 7,767,011 are FOREIGN IMPORTS. Meanwhile the India Government continues to sell its Germany West Indies. drafts fairly well. It offered on Wednesday 20 lacs and the Mexico applications amounted to nearly 175 lacs. The whole amount South America offered for tender was dispostd of at prices ranging from Ill other countries. lacs —The following : Wallabout Merchants' Borough of Richmond. of Staten Isl. 1st Nat., staten Isl. % { t I I t 100,0 100,0 100,0 200,0 100,0 200,0 100.0 100,0 112,5 212,7 126,5 58,0 16,4 109,1 51,8 134,1 46,0 162,6 126,6 199,4 62,5 67,1 337,7 188.1 26,0 1209.3 19,2 98,6 261,4 1916,0 98,0 84,0 151,0 1083,0 63.1 326,3 77,5 42,*17 8,5 1290. 60,0 43.8 678,4 37,2 4,8 1402,0 95, 161,0 49,0 90,2 218.2 1795,3 9o,6 1245,4 29,3 115,6 175,2 1182,7 17.1 120,4 224, J 1860,0 52,0 107,0 120,0 959,1 54,9 68,4 8,4 2933,0 218,0 109,0 108.0 1117,7 16,2 164,1 112,8 99,1 876,5 46,4 68,4 2219,3 60.3 223,*; 169.6 1684.0 101,9 112,9 114,4 19,3 185,7 78,8 3,1 150,0 100,0 300,0 100,0 100,0 150,0 252,0 500,0 100,0 300,0 300,0 100,0 100,0 100,0 100,0 200,0 100,0 100,0 100,0 100,0 121,4 164,0 168,8 43,3 53,6 61,6 492,0 405,6 203,6 693.8 592,7 120,9 130,2 64,4 75,1 233,0 54,9 68,0 45,7 12,3 1115.8 1349.1 1349.4 300,7 666,0 718,1 2497.4 2889,8 920,6 3797,0 2632,0 661.2 911,6 666,6 451.3 1079,5 486,6 588,0 648,2 426,4 26,0 100,0 67,2 81,2 667,4 678,3 400,0 260,0 250,0 200,0 110,0 126.0 817.3 546.6 863,2 222,4 467,4 102,4 100,0 300,0 100,0 100,0 200,0 200,0 250,0 200,o 100, 11.4 12.1 63,0 6,2 28,4 38,0 304,2 178,6 15,2 214,0 181.0 12,2 33,0 14,8 6,5 118,6 10.7 19,9 40,9 6,0 183 37,6 91,6 167,9 104,3 257,4 46.8 178,8 38,0 45,1 26.7 46,6 27,7 72,4 198,2 634,5 168,1 161,8 63,7 93,6 348,0 560,0 261,0 313.0 80,6 39,8 40,0 36.5 28.2 45,6 38,2 70,6 10,0 269.1 28.0 63.0 39,7 70,6 12,2 46.2 42,8 00,6 23.6 20,0 t 225,0 29 "6 6'i.O 118 il 1,3 113,0 84,4 185,7 95,6 65,2 100.0 6 85,3 48,0 18,0 71,0 1264,8 1610.2 1419,9 321,0 620,2 758,5 3105,0 30. 9,3 60,0 896.1 25.0 4116.0 149,0 2897.0 934,2 1628.8 100.8 978,2 61.7 660 45.4 438 6 8,5 1020.0 1.4 499.6 36,6 641.9 100.9 710.0 466,3 62,0 89.6 199.7 1402,8 2H76.0 1399.5 1475,6 664,3 1668,0 2373,3 188 ,3 1577,6 1810.0 923,3 3252,0 1640.8 1109 8 2380.9 1772,2 230,9 686.8 765,3 Other Cities. 1st Nat, Jer. City. Uud. Co. Nat., J.O. 2d Nat., Jer. City.. 3d Nat., Jer. City.. 1st Nat., Hoboken. Id Nat., Hoboken. 4625.4 229.4 232.8 994,3 1610.6 6798.8 1964.7 67,3 186.6 65,0 1606.2 75.1 1261,9 21.4 146,0 9M.4 62,3 66.0 101.8 964.6 32.9 880,2 24,7 2036.0 100.9 14.9 1*9.7 6O.1 1743.7 47.0 918 4 62.3 69,9 63.8 765,2; Totals Aug. 25.. 7S62.0 8468 8 60201 9 2824,13704.2 7661,0 4813.668i28 4 Totals Ang. 18.. 7862,018468 8,59429,4 2918 9 3766 5,8102.6 4614 5 88*46,1 Total* Ang. 11.. 73«2.0 8488.8 69591,2 2884.68848,6 8377. 4684.3 68i96 4 : I I 9 . September THE CHRONICLE 1900.] 1, New York City Clearing House Banks.— Statement of oondition for the week ending Aug. 25, based on average of We omit two ciphers (00) in all cases. daily results. The exports from the several seaboard ports for the week snding Aug. 25, 1900, are shown in the annexed statement: Bank 2,000,0 Manhattan Co... 2,050,0 Merchants' 2,000,0 Mechanics' 2,000,0 Amerloa 1,600,0 Phenlx 1,000,0 City 10,000,0 Chemical Merchants' Ex.. 300,0 600,0 Gallatin 1,000.0 300,0 Bntoh.<& Drov's* Meoh.A Traders' 400,0 200,0 600,0 300,0 Greenwich Leather MTrs.. Seventh State of N. Y.... 1,200,0 American Exoh. 6,000,0 Commerce Broadway Mercantile Pacific Republic Chatham People's North America.. Hanover Irving Citizens' Nassau Market* Fulton Shoe A Leather. Corn Exohange.. Continental Oriental Imp't'rs' A Trad. Park East River Fourth Central Second Ninth. First N.Y.NaflExch Bowery N. Y. County.... German Amerl.. Chase Fifth Avenue... German Exoh... Germanla Lincoln Garfield Filth Bank of Metrop. West Side... Seaboard Western 1st Nat., B'klyn. Liberty N. Y. Prod. Ex.. NewAmsterdam Astor Hide & Leather. Total. . Loam. 10,000,0 1,000,0 1,000,0 422,7 1,600,0 460.0 200,0 1,000,0 3,000,0 600,0 600,0 600,0 900,0 1,000,0 1,400,0 1,000,0 300,0 1,600,0 2,000,0 250,0 3,000,0 1,000,0 300,0 750,0 500,0 800,0 250,0 200,0 750,0 1,000,0 100,0 200,0 200,0 300,0 200,0 200.0 300,0 200,0 500,0 2,100,0 300,0 500,0 1,000,0 250,0 350,0 500,0 LegaU. Specie 2,158,8 16,186.0 2,203,6 19,977,0 1,206,4 14,269,3 2,293,0 12,150,0 3,011,1 21,017,0 6,072,0 274,0 6,278,6 108,784.2 6,964,0 24,697,3 4,734,9 228,5 8,794,3 1,860,6 1,064,1 89,4 2,186,0 114,8 97?, 176,3 8,582,3 506,6 3,582.7 223,6 3,808,6 536,6 2,848.6 27,668,0 62,895,9 7,029,3 6,556,3 1,647,8 1,232,8 13,861-, 1 2,782,3 493,9 1,143,2 19,609,6 6,025,1 1,000.7 2,108,7 325,2 659,5 12.744,4 6,014,1 43,181,4 4,270.0 467,0 8,086,6 420,5 2,780,4 274,8 6,491,0 1,020,0 3,677,1 211,2 19,457,4 1,840,1 4,797,8 510,6 2,061,0 406,6 6,160,1 26,032,0 3,306,2 46,583,0 1,266,5 162,9 2,376,0 22,387,6 539,9 11,624,0 S.434,0 799,0 2,301,0 162,8 88,719,6 9.117,0 2,916,7 103,0 3,164,0 708,8 3,079,6 375,8 3,492,2 350,1 1,994,6 38,672,7 8,467.7 1,287,0 2,5v 0,6 614,7 3.180,2 802,0 9,775,9 890.1 5,644,3 1,073,5 2,076,7 359,1 963,6 6,487,9 2,633,0 409,1 11,253,0 748,7 1,696,4 3^,218,4 3,950,0 628,3 6,(90,2 535,8 8,913,8 374,9 411,0 5,047,3 231,8 3,869,1 302,1 2,604,7 1,364,0 2,908.0 1,828,1 2,612,0 7,431,0 1,654,2 2.644,0 3,868,0 1,138,0 35,292,1 4,26»,3 784,0 892.5 223,1 170,0 107,3 666,3 823,8 370,0 2,277.1 200,0 6,814,0 3,120,3 613,1 918,2 63.6 208,0 189,5 218,6 317,0 434,6 2,169.0 470.2 3,602,0 6,805,7 6,4084 991,0 390,4 1,479,1 2,060,2 321.5 4,473.9 632,7 171.6 2,266,8 12,932.3 639,8 1,402,3 994,1 544.2 666,6 573,3 426,4 1,443,1 779,4 2,870.0 860,0 207,0 7,780,0 9,624,0 180,6 3,805,7 2,444,0 1,724.0 526.3 7,789.8 572,9 400,0 835,3 679,6 8,754,3 2,044.9 182,1 401,5 2,165,8 1,838,9 457,8 1,124,7 498.0 1,466,0 9,137,9 649,0 1,194,9 583,0 605.1 750,2 496,7 <ewYork Deposits 1.187,0 2,781,8 600,4 208,0 248.2 645,6 259.8 2.746.0 566,4 250.0 2,146.0 5.806.0 174,0 2,221,1 1,117,0 740.0 332,6 l,86o,S 309,8 357,0 417,6 253,7 4,031,4 M 632,9 34 543,9 853,7 304.0 177,» 658.7 396,0 2,283,0 2,670,8 975,0 426,0 365,7 1,130,2 248.9 86,7 -Joiton Me. 119.23-) $ P.C. "biladeiphla.. 25-9 38-0 20-6 24-0 laltlmore 4ew Orleans.. Norfolk 234.400 72,000 824,600 2V6 256 d on t real Jalveston Portland, 31'2 29-4 at— Wheat. 312,6011,078 693 17-2 31*0 September 265 25-5 111.061 Continent. 26-2 26-4 27-4 247 31*2 27*1 240 99,125 134.300 13.492 29,641 68.720 11,800 1.667,000 868.389 7.198,983 2,087,667 4,056,098 860,536 431,(00 374.9 tO 8,781.941 8.707,481 6,842.279 481.201 82,578 137.805 5,664,:. 89 4.809,404 4,778,044 828.008 228,371 1.487.986 1,684.4 52 2-1,083.068 10,219,934 18.034,289 15 597.994 1,183 398 15, 156.946 16,591.319 19,199.847 15,396,850 14,763,440 969.793 1.116,676 6'8,848 842.134 487,631 818.612 72.370 142,800 102,600 238 524 8.411 1,457,610 vtssi 608,803 Detroit Cleveland... 8,000 109,676 Louis 38,600 7,eoo 896.012 Minneapolis. 8t. Kansas 46,301 .... City. Tot.wk.1900 Same wk.'99 Same wk.'98 Since Aut. 1900 1899 1898 12,800 149,440 526,900 176,210 26. & C. America. 'Vest Indies..... 3r.N.Am- Colo's Hher countries Tota Total 1898-99.... Aug. 25 1.1899. 208.605 10.079.F45 41,204 2.286.166 21 ,>-87 1,090,967 88.836 1,390 428 186 621 2,186 444 899,209 Wet* Aug. 25 ui'i 1,600,828 87 620 808 1,096.254 10 ) 053223 351,v?2 14,8.5 5.712 1.147.711 18 '75 636.429 1,825.586 2,666 872 ••••-.., ........ lines Sept. 1, 1899. bush. 360.100 81,72I,4Htf 669,781 1,817,883 87.192,839 8,233 070 191,634.628 2.4«3,2o6 128.769,715 4 826,011 182,526,466 312,601 16.324,898 889.717 17,306.422 The visible supply of grain, comprising the stocks in granary at the principal points of accumulation at lake and seaboard ports, Aug. 25, 1900, was as follows: Wheat, at— sew York In store Do afloat Boston Philadelphia Baltimore New Orleans , Salveston Montreal TorontoSuflalo Do Barley 226.000 853.000 668.000 728,000 694,000 586,000 213,100 622,000 87,000 284,000 14,000 129,000 8,000 2,081.000 472,000 378,000 3.000 96,000 1.199.000 29,00*6 bu«fc. • ••• 11,000 '20.00V .... afloat 862.000 6,000 .... 203,000 92,000 51.000 59.300 3,000 11,401.000 786,000 8,193,000 871.000 17.000 816,000 49,000 127,000 3.0(0 5.000 1.840.000 7,222,000 421,000 etrolt Do Bye, bush. 144,000 895,oov 673.000 1,484.000 594,000 2,081,000 1,050,000 Do Oats, bush. 643,000 bush. 774,000 afloat. oledo afloat ihloago Do afloat .... Milwaukee Do afloat rt»WUl'm&Pt. Arthur )uluth Do 61,000 '38.000 95 000 9.360 000 4.189.nno 41,000 l.eoi.ooo 13.000 49,000 137,000 307.000 72.000 14. "10 13.000 833.000 3,000 611.000 83,000 28,000 642.000 25,000 afloat Minneapolis. U Corn, bush. 2.883.<w> 36,003 Louis Do afloat lansasClty Peoria Indianapolis )n Mississippi River 3n Lakes }n oanal and river. Aug. 25, Aug. 1H, Aug. V6 Aug. 27. lWa! Aug. 28, Total Total Total Total 17,000 569.000 72,000 49.966 000 49 761.000 84,6x6 000 6,947,000 15.478,000 7,430,000 9,102 000 8.97U.0OO 16.530.000 27,874,000 8,068 000 7,021,000 . . 1900* 1900* 1899+ 1898+ 1897+ 8,000 7. '°« 9000 1,000 617000 4 H07 000 3,298 000 784 000 681 000 636 000 432 000 9.270.000 1.816.000 1.046,000 889,000 884,000 29' 000 * Includes stocks in private elevators at Milwaukee. + Stocks In private elevators at Milwaukee not included. Note.— Beginning July i, 1899, the New Vork Produce ifixchange has changed its Visible Supply Statement by inclu >ing stocks at New Orleans, Galveston, St. William and Pt. Arthur (previously omitted) and leaving out Albany Oswego and Cincinnati, formerly included. 20,400 8,400 3,412 8,340 15.600 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. Slocks. 1 Clinton Hall Assoon 25 U. 8. Mort. & Trust Co.. 450 20 North American Tr. Co.. 201 51*g 10 Mercantile Nat. Bank. ..200 678 963 • 193.790 760 385.700 6,300 ••• 4,836 2.100 86,000 1. The receipts ot flour and grain at the seaboard the week ended Aug. 25, 1900, follow 1, ' since s Sept. 1899. bush. b st. 1.467,783 54,889.147 bblt. lifts. 82.846 246.959 16,471 week and <— Wheat, Week Since , Sines Sept. 23 92S |». 1,828.203 68,400 Milwaukee Aug. to- i. 884,600 64,600 61,934 63,680 210,900 72,668 74,650 257.886 282,800 114,000 2.281.166 Sept. 1 24-8 256 Week asted Kingdom 235 5bls.l90U» Busn.eOIoi Btt*A.66IZ» Buth.SZlbt BuiA.48Ibf BU.68P Chicago ——Flour. Extorts for meek and since 18.978 9.678 108,439 destination of these exports for the 1, 1899, is as below: 271 24-8 27-8 8,579 •••••••• 889.717 2,039.230 The 82.848 •••••••• »••«.«.. 240.000 136,248 Total week. 1,817 883 8.238 070 21'9 29-2 26-6 24-6 6,7( 8,3 24-9 3,950.0 234 28,372,0 84'9 57,643,0 2e-7 1,832,6 265 23 685,8 26-6 14,641.0 24-3 9,346,0 26-3 2,643,3 32 5 38,801,0 24-8 3,183,6 277 3,312.0 22-8 4,053,0 30-9 3,459,1 240 47,669,6 26-8 9,560.6 25-0 3,010,8 27-0 4,470,8 21-1 11,884,3 265 6,820,7 314 2,268,8 282 6,916,8 24-1 3,155.0 28-3 13,998,0 26-7 46,149,3 25-3 4,708.0 3- *4 6,646,9 24-3 3.696,7 25-6 6,061,8 26-9 4,084,0 24 4 1,896,1 30-7 Barlsv Oatt. Corn. 196,81.0 Barley bush, 6,950 ••• • • 80 001 2,720 lame time '99. 2,293.256 4.826.011 74,222.7 91,035,0 817,402,8 1735312 75,696,8 901,356.3 27'e /lour. 409,859 318.203 Peat, bush 1.094 l&ft.OOO 262 256 283 Breadstuffs Figures Brought from Page 459.—Th statements 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 Angr. 25, and since Aug. 1, for each of the last three years have been: Meetiptt 42.8->7 Rye, bush. 1,210 138,488 7,554 88,163 45.713 8,662 6,116 2.446 18.466 4.999 13/. 143 Rewp'rt News Oatt, bush. 875.086 bblt. 103.436 40,067 360.927 8,592 194,732 447,113 298791) 83.740 i 15,318,0 27,137,0 15,861,7 12,102,0 23.928,9 5,219,0 131,643,4 25,064,7 5,331.9 7,072,5 1,013.5 2,186,0 800,6 8,267,7 4,587,2 3,250,8 21,740,0 51,657,4 6,857,3 14,256,6 8,361,1 22,377,1 6,151,6 2,611,9 18,968,0 50,295,9 4,669.0 3,252,0 3.058,1 7,149,1 4,050,0 22,789,2 $ $ $ $ $ T N. of Capital Surplus Flow, Corn, bush. 270 S03 1.316,057 Wheat. from — huth. Maopgrtt BANKS 423 By Messrs. R. V. Harnett & Co. Stocks. Slocks. & Trust Co.. $2 1,105 Amer.Dist. Steam Co.$225 $2 631 National Fibre Co Bonds. $1 OOO Ampersand Hotel Co. 114 Amer. Loan 25 Pref. and 188 com. St. L. &Chio. Ry. Co $1 50 National Iron Fenoe Co. $1 150 Gas Consum. Benefit Co. $1 54N.YR.Est.&BdgImpCo. $3 76 Holly Steam Comb'n Co. $1 Satitotxg 2d M. and 5s, $200 1901 Jgiwxntisx'L ports for : F.our. - Receipts Mew York at- Boston Montrea 4. Philadelphia Baltimore Rlohmond New 660 Orleans* Newport News Norfolk Galveiton Portland, bblt. 122,995 4*,582 23.882 62,462 99,003 Me Total week.. _ Week 1899 10.483 2.44« 5,116 7,654 378,612 4l 1. 31 Wheat, bush. Oats, bush. Corn, bush. 64S300 1.364.100 167,276 323.487 439,247 291,388 9,766 187,000 269,210 409.603 £98,501 381,999 14.420 78,000 137,148 42,85? 810,100 214,939 91,833 232,985 167 788 61.604 54,610 240,000 139.000 119.2S8 "8,592 6,000 138,488 2,614.442 2.783,858 8,004,328 4,237,501 2,006.777 3.118,704 Receipts do not include grain passing through ports on through bills of lading * Maw BmrUv Rye, bush. 2 200 buss 6,838 419 800 8.0 10,472 'i.8>93 1,822 9.6S8 199.816 of— Hour... bbls Wheat., .bush Corn.... Oats.... Barley. Bye Total grain. a* & 30,921 Orleans tor toreir 1899. 13,600,910 1898. 12,330,260 60,721.760 182.g01.3l4 48.620.798 7.615 493 1,764.995 "74.811,763 126,063 2 2 68.842,083 4,052,440 4,136,6*8 70.606.859 189.2-0.818 64 104,330 8.0r2 '43 9.836.765 ~43 271,647 122.68 '.1*6 61.4 8 858 2*1,*U,868 285,408,061 286,889,704 231,004,075 8,447,687 - - - - NEW YORK INVESTMENT SECURITIESBranch Moffat Office, 67 State St., Albany ALEXANDER M. WHITB, JB George Barclay Moffat. 17.066.219 7.182353 PINE STREET, Members N. Y. Stock Exchange 1897 1900. 13.555,090 29 Co., Transact a general banking business) act as Fiscal Agents for corporations, and negotiate security issues of railroads and other companies. Execute commission orders and deal in ~80.S06 Total receipts at ports from Jan. 1 to Aug. 25 compare as follows for four years: Rectivtt Spencer Trask & BANKERS, 3,900 & White BANKERS, Members New York Stock Kxobange, NO. 1 NASSAU STREET, - NEW YORK. INVESTMENT SECURITIES. : . THE CHRONICLR 424 Uaufem' count; St Louis, 50c. per $1,000 premium-; San Francisco, 5c. per $100 premium. (Samite. — United States Bonds. Sales of Government bonds at the board were $2,000 3s, registered at 109%; $46,000 3s, coup., at 109^; $4,000 4s, coup., 1925, at 134J^ and $500 4s, DIVIDENDS. Name Per of Oompany. When Books closed. (Days inclusive.) Oeni. Payable Railroads (Steam). Portland & Ruml'd Falls (Quar.) Street Railway•». South Side El., Chio. (quar.l flfl*cellaneoua. 9 Sept. 16 Oct. 15 Sept. 9 Sept. 15 29 Sept. 19 to Oct. 5 2 2 i Sept. Oct. IP Oct. 10 Sept. Sept. Sept. 15 Sept. \ Sept. 2 Rubber Goods, com. (quar.) " " pref. (quar.), ... United States Printing (quar. ) Va.-Car. Chem., com. (quar.) . 1 Aug. 31 to Sept. 1 Aug. 16 2 Oct. 1 Hoid>-rs of rec 2 Sept. 15 Sept. 6 to 134 Oct. to 1 Sept. 16 1% Oct. 1 Sept. 23 to to 1 7 Oct. 16 Oct. 1% Sept. 15 Sept. 9 to to 1^4 Sept. 1 Aug. 22 to 1 Sept. 1 Aug. 29 5 Oonaol. Gas, N. Y. (quar.) Continental Tobacco, pref Rijiublio Ir. & Steel, pref.(quar.) coup., 1907, at 115)^. The following are the daily closing quotations; for yearly range see seventh page following. to to to to 1H Sept 15 1 . Sept. 15 Sept. 16 Oct. 1 Sept. 30 Oct. 15 Sept, 16 Aug. 31 Aug. 31 WALL. STREET. FRIDAY. AUG. 31. 1900.-5 P. M. The Money Market and Financial Situation.—There are no substantial evidences of a broader interest in the security markets this week. It is claimed in certain quarters that there is a better demand for some classes of securities, but if such is the case the demand is apparently limited to Board-room traders, and the volume of business is still very small. No doubt business in Wall Street will increase to some extent upon the return of capitalists and investors as midsummer holiday period closes. The news of the week, both foreign and domestic, is in the main favorable. The situation in China is evidently clearing up, and other international complications of less interest to us seem to be progressing towards a settlement. The political campaign, which is rapidly absorbing public attention and will have an influence more or less important upon all industrial enterprises during the next two months, has not assumed aDy new phases. Reports of railway earnings now being published show the effect of increased cost of labor and material in final While gross receipts are generally larger, the net results. earnings are in a number of cases smaller than during the corresponding period last year. The open market rates for call loans on the Stock Exchange during the week on stock and bond collaterals have ranged from Vyi to \% per cent. To-day's rates on call were V/i to V/2 per cent. Prime commercial paper 4 to b% per cent. the The Bank of England weekly statement on Thursday showed an increase in bullion of £2,014,821 and the percentage of reserve to liabilities was 47 "33, against 41-04 last week; the discount rate remains unchanged at 4 per cent. The Bank of France shows an increase of 1,825,000 francs in gold and a decrease of 600,000 francs in silver. The New York City Clearing-House banks, in their statement of Aug. 25 showed an increase in the reserve held of $5,091,590 and a surplus over the required reserve of $23,888,925 against $20,557,050, the previous week. 1900. Differen'sfr'm Prev. week. Aug. 25. 1899. 1898. Aug. 26. Aug. 27. Interest Periods. 2s, .... ...... Loans &dlso'nts. Circulation Ret deposits Speoie Legal tenders..., Reserve held...., Legal reserve.... Surplus reserve 74,222,700 91,035.000 817,402,300 Ino 28,586,000 lno 901,356,300 In/) 173,531.200 I DO 75,696,800 Ino 249,228,000 Ino 225,339,075 lno 502,400 7,038,500 4,608,300 483,200 5,091,500 1,759,625 58,922,700 77.382,600 756,789,900 14,072,400 858,135,100 172,381,100 54,531,200 226,912,300 214,533,775 59,022,700 75,292,300 672,091,800 14,123,300 760,234,400 155,968,700 55,433,200 211,401,900 190,058,600 23.888.925 Inc. 3,331,875 12,378,525 21,343,300 2,518.700 Aug. Aug. 25. 27. 103% 103% 30-year, ref'd'gt do 38,1918 38,1918 do 2b, ..reg. Aug. 28 Aug. Aug. 29. 30 31 103 % *103 3» *103ifl 103 ifl *103i« *103\ *103% *109 109 109»s "109 *109 109*4 *109 109 * '109 -Feb. 109 -Feb. '109 109 -Feb. '109" *i09*" *i09" *i09" ioS" -Feb. doS" '115 *115 *115 *115 4s, 1907 reg. -Jan. '115 114% 115 *115 *115 *115 4s, 1907 -Jan. 115 eoup. 11434 *134i4 *134 *134 134 48,1925 reg. -Feb. '1331a 13334 *134i4 *134 134 13313 *134 4s, 1925 -Feb. coup. 13334 14 -112is *112ia -112ia *1121« 5s,1904 -Feb. reg. *H2ifl 1121* *112i« *112i« *112ifl*112is *112ia 5s,1904 coup. Q. -Feb. H213 - This is the price bid at tke morning board ; no sale was made. t Prices are quotations in "Unlisted Dep't" for bonds "when issued." f reg. coup. 3s, 1918, small. reg. 3s, 1918, small..o'p. — are the current quotations in gold for Coins. Following coins and bullion Sovereigns $4 87 Napoleons 3 86 Reiohmarks. 4 75 25 Pesetas.. 4 78 Span. Doubloons.15 50 Mex. Doubloons.15 50 Fine gold bars... par : — 61V® — 62*« — 95 @ — 96i« Mexican dollars.. — 48*4® — 491* — 44 @ — 46 Peruvian sols English silver. .$4 84 ®$4 88 U. S. trade dollars — 60 ® — 70 ®$4 89 © @ ® XX Fine Silver bars.. Five francs 3 89 4 80 4 83 ©15 60 ®15 60 . . 'S^prem. State and Railroad Bonds.— Sales of State bonds at the Board include $5,000 Virginia 6s deferred trust receipts at 6J£, $500 Virginia fund, debt 2-3s of 1991 at 89^, $2,000 Louisiana consol. 4s at 108 and $6,000 Tennessee settlement 3s at 95. The market for railway bonds has been steady to firm, and nearly all active issues are fractionally higher than our last quotations. Although there are not so many conspicuously strong features as were noted last week, a few issues made a substantial advance. The daily transactions averaged about par $1,000,000, which Atchison, Baltimore & Ohio, Central of Georgia, Missouri Kansas & Texas, Reading, St. Louis Southwestern, Union Pacific and Wabash bonds were convalue, in spicuous. — Stock and Bond Sales. The following shows the volume of business in stocks and bonds on the New York Stock Exchange for the past week and sinoe Jan. 1 Sales at Jan. 1 to Aug. 31.—^ >-Week end. Aug. 31.-% . n. F. Stock Exch. Government bonds State bonds BR. and misc. bonds Total Bank shares, par 1899. 1900. 1899. $52,500 13,600 4,421,000 tl 16.700 39,500 10,956,000 10.442,910 1,616,100 824.830,800 $7,461,290 1,727,300 651.660,100 14,487,000 799,184 $77,998,650 $1,000 $11,112,200 2,703,663 $257,797,700 1900. Stocks— No. shares Par value value. $331,919,810 $660,826,690 76,!<38,170 122,765.120 $7,367,669,062 $11,886,696,500 $79,650 $817,8M We add the following record of the daily transactions: Weekending r- Stocks. Aug. 31, 1900. Shares. Saturday Monday Tuesday Wednesday Thursday FridayTotal. Capital Surplus [Vol. LXXI. The sales Saturday Monday Tuesday Wednesday Thursday Friday. Total > Par value. Railroad, Ac. State Bonds. Bonds. 59,793 201,816 119,638 142,872 144,254 130,912 $5,851,800 19.434,000 11,657,800 14.086,200 13.987,150 12.979,700 $200,000 766.000 669,000 1,018,000 1,149.000 631,000 $5,000 6,000 799,184 $77,996,650 $4,421,000 $13,500 60o U.S. Bonds. "$600 6,000 46,000 8,000 $52,500 on the Boston and Philadelphia Exchanges were s Listed Boston.Unlisted shares, shares. . Bond Philadelphia. Listed Unlisted Bond shares, . 1,296 10,066 4,094 2.89H 4,405 9,092 sales. $10,100 1,000 15,000 17,500 12,000 14,000 shares, 8,308 4,259 8.754 5,667 4,398 9,613 8,047 983 370 1 18,898 164.287 78,200 135,300 184 9 JO 29,899 31.651 69,600 32.886 6.944 701.063 4.667 7,366 5,554 4,':80 6*7i 626 1.188 2,524 l.*10 sales. $28,000 — Railroad and Miscellaneous Stocks. The stock market Note.—Returns of separate banks appear on page 423. opened weak on Monday, when there was more activity Foreign Exchange. The market for foreign exchange has than during the past two weeks, and prices generally debeen dull and relatively steady. Both the offerings and clined, Tuesday's market was steady, and on Wednesday inquiry for bills were limited, and rates are practically the tone was firmer and early losses were generally recovunchanged. ered. Thursday and to-day the market has been steady, To-day's actual rates of exchange were as follows: Bank with trading largely professional and fluctuations unim_i J _i. i» i nil //^.i nil / — portant. The volume of business was limited to an average — » j » -i •* a ,-„— - > 4 84; documentary commercial, sixty days," 4 83!^@4 64%; grain for payment, 4 84>|@4 84 *£; cotton for payment, 4 83^ @4 833^; cotton for acceptance, 4 83%@4 84. Posted rates of leading bankers follow: August 31. Sixty days. Prime bankers' sterling bills on London. 4 85 Prime commercial 4 83V04 84 83i4*4 Documentary commercial 4 84ifl 5 18V'3>18i8 Paris bankers' (francs) Amsterdam (guilders) bankers Frankfort or Bremen (reiohmarks) b'kers * Leas iia. 40 ®40l,« 9488®94li lfl Demand. 4 88*41 5 16!4®15Be* 403 i6 a>40 14 953,^9514 The following were the rates of domestic exchange on at the under-mentioned cities to-day: Savannah, buying 1-16 discount, selling 1-16 premium; Charleston, buying par, selling 1-10 premium; New Orleans, bank, $1 0) New York premium; commercial, 75c. discount; Chicago, 15c. dis- of 150,000 shares per day. The coal stocks were the weak features of the railway list, on rumors of possible labor troubles in the coal regions. Central of New Jersey declined %% points, but recovered a part of the loss. The grangers were inclined to weakness on traffic reports issued showing an increase in operating expenses as compared with last year. Local transportation issues were relatively firm, Manhattan Elevated and MetroLong politan Street Railway showing fractional net gains Island, which has been quite inactive of late, sold G}4 points below the last previous selling price on the offering of 200 shares, recovering 4 points to-day, American Tin Plate led the miscellaneous list in the matter of advance, showing a net gain of 3 V 4 points. The iron and steel stocks were strong on rumors of improving conditions in the industries they represent. American Tobacco, Continental Tobacco and General Electrio were firm features. American Sugar Refining and Consolidated Gas each declined, the former losing nearly 4 points. Sept • ... I THE CHKONICLE —STOCK 1900.] 1 ., .,... New York Stock Exchange— A PBIOES Monday, •16 t I I a Aug. 28. Aug. 27. •16 •48 18 •••• l« Tuesday, •16 44 18 44 Wednesday Thursday, Aug. 29 Aug. 30. •16 18 44 86* 87* 23% 27* 37* 70* 70% 69* 69* 69* 70 7i* 71% 71* 71* 71% 73* •78* •78* 179* 79* 79* 79* 79* 79* 63* 00 54^ S5* 53* 55% 52* 64 65 78 73 73 70 70 •67* 70 87* 87 69% ™% 71% 71* •100 '108 115 •88* 89% •89 •49 49 50 115 '104 89 8N 49 108* »!•••• 134* 138* 188* 36* 87* 36* 184* 185* 184* 184% 123* •••••I lltll •••••< "96* * »•*•• 96* 108* • I I - - • t • 186 136* 187* 87% t • 185 180 180 125 •10* 11* •83* 83* 158* 68* •31* 34 •31 33 •10* 11* •88* 83* •37* 70* •31 •88 •53 84 83 55 180 110 89 00 •16 18 45 28 40 '104 •88* 150 18 46 46 Aug. Ii, •16 110 40 134 • •• tl 88% 70% 71 78 72* 79 79* 50 55% 108* 134 88* ton. Topeka a Santa Fe. 18,915 70* pref. 86,060 Do 8,555 78* Balt,AOhio,vot.tr.oertfs. 885 79* prof. Do 90,045 50* Brooklyn Rapid Transit. . •••••• 96* 96* 125 800 '104 1 I •120 840 pref. 60 60 Buffalo Booh. A Plttfburg 115 115 104 115 pref. Do 89* 38% 89% •88* 89* Canadian Paolflo 49 50 •49 50* anada Southern.. 00 •••»•• 180 Railroad Stocks. 88 103* •102% so" 135* 136 26* 86K 37 27* 87* •27 131* 184% 185* 130 185% 121% 103* I 8TOCK8. STOCK BZOH. Arbor Ann Do 18 » •*•• 180 10* 11* 10% 11* 42 % *88* 88* 83 *§X* 88* 70 70 70 31* Ii* 32% 33* 31* 83 24* •28* 8." !?* 08 64 57% ••••• 130 !2 % 83 70 84 11 300 110 5,185 1,810 24,068 . Chicago Gontol. Traction. 96* Chicago A 125 Do Haat. IUlnoli. . 100 175 100 355 150 pref. 11 Chloago Great Weitern. . 83* Do 4 p.c. debentures. Do 6p.o.pref."A".. 33 Do 4 p.o. pref. "B".. 84 Ohio. Indlanap. A Louliv. •88% 1,300 1,700 80,030 . 57* Do pref. 113* Chloago Mllw. A St Paul. 118 113* 118* 113* 171 173 •Ul* 1173 173 173 173 174* 173* 171* 178* Do pref. 163 164 163 162 161* 163 168 160 162 166 Chicago a North Western. 162 162 302 808 1308 203 1199* 199* 808 202 •800 306 Do pref. 106* 10C% 105% 106* 105% 106* 106% 106% 106% 106* 106% 106* Chloago Book III. a Pao. '112 112 U18 •01 •114 116 178 •160 ' 54 116 180 I 113 172 112* 112 116 180 .••••• 113* 113* 118% 113 116 180 9* i°>* !-•* 12* 9* 10* 31 10* 31 83 32 •81 31 31* 131 08 08 58* 58* 58* •58 , 5 2* 158 •ex •106 •85 •64 •106 •80 •64 109 80 68 6* •6 43* 48 •6 •48 •16 •16 17 •118* 118* H3* 178 178* 177 •18% 19* •18* •872 ?77* •66 •12* •18 15 110 30 68 106 25 64 6* •6 43* •41* 110 37 68 67 106 38 110 3d 68 •64 6* 6% «5% 41* 41* 48 17 118 179 118 • • tti 9* 116 180 160 10* 31 32 59 •59% 106 107 88* 23* 86 •64 64 87 6% 6% 41% 41% 118 180 •9% •15* •48* •80 Do Cler. Lorain Do 6* Colorado 163* 152* 162* 153 18 *••••! ••••f tt I I I I •8* 4 51" •809 •80 60 72 •n% . 80 »79 11% 16 Him • « • • t I 110 2* (••!•< 10 • IIMH •»••• 9 ••tot 81 4 32 4 14 15 14 10 •l't* 15 28* 28* 27% 29* 27% 98 C5 93 95 93 SI* 95 '809 209 809 60 65 60 65 60 65 81 18 •3% •106 3* ttlttt otfs. ••• tt ***•*• 8 13* 31% 31% •8* 4 15 89 95 •14 •27 •93 Ivan. O. P. tt 8 « • • 100 8* a Oulf , '106 66* 65* 55* 93* S2* •98 •16 16 30 •66 58* •56 •9* 10* 9* •80* 31 30* 50* 51* 50* •87 39 36* 80 80 •UK 32 80 12 32 82 12 30 80 U% U% 3% 3% 3% 3% 3* 100 II tt 105 55* •54* 55* 55 •93 93* 95 •15 !t* 14 20 •56 54 63 58* 9% 10* •9% 10 81 so* 31 30% 50% 50% 50% 51 88* •36% 88* •36 •••••• t I •185 189 189 •80 38 •80 30 33 30 •188 •810 135 810 133 310 •132 •310 135 814 132 185 S3 83 185 189 189 •185 56 94* 18 57 10 30* 61% 38* 189 • 154 •30 •80 11* •3* 105 •56 94 •14 •54 32 82 U* 3% 94 18 57 9% 10% 30% 81 61 61% •36 su* 185 M lob lg an Central 189 St. Louis.. 3d pref. a 8. S. Marie. Do pref. •9* 10* Mo. Kansas a Texas •14 •53 18 56 30* 50% 36* 51 1185 Minn. St. P. Do 31* 38* Mobilea Ohio Morris a Hssex... 188% 129% 139* 139* 129% 189% 130 13 J* \J T. Central a Hudson.. 189% 128* 139 •11* •11* UK 11* 11* 11* 11* 11* IM Y.Ohio, a St. Louts... ii* •70 70 ii* •70 70 79 70 79 •70 79 79 79 79 Do 1st pref. U* 80* 80% •33* 34 176* 76* 50* 6t HI* 71* 135 814 80% 31 33* 33% 74* 76 32 30 185 5312 818 130% 80* 80* 81 33% 33* 83% 34 74* 76 74* 76 133 50* 60% 50% 50* 71* 571% 71% 71 50% 51 71* 71* 210 38 •30 32 185 314 •138 •210 135 815 74* Do 8d pref. New York a Harlem , N Y. Laok. a Western.,,. N. Y. New Haven a Hart N. Y. Ontario a Western.. Norfolk a Western 81* 31% 34% 34* 21* 31* 84% 34% •74* 76 Do 76 50% 50% 71* 71* 60% 51% 71% 71% pref. Nor. Pao. By., vot. tr.otfs. Do pref. Or.BB.aN.Oo.Tot.tr.ofs. Do •05 •86 •64 07 93 66 •50 85 56* 158 85 90 06 90 65 56 86 64 06 91 65 155 86 •55 05 93 85 Do 1st Do 3d 64* 64% 64* 65* 85* 64% 67 188* 188* 127* 188* 137* 188% 138 138* 188% 139 187% 188* •l* 8 IK lfi •1% i* 1% 7* 1* IK •6 la* 5 I* 7 5 0 6 7 7* 7* 7 •38 83 23* 83 88* •32 83* 83 •33 28* 83* •55 8* 55 58 63 •54 •80* 81* * •54 81 00 58 60 54 81 Bid and seked prices j 58 54 55 04 Strett Railway. NBW YOBK aieeck st 1st 'way a a Fui f—stook. 7th Bid. Ask. CITY. mort 4s 1950... Jaj Are— Stook. •55 54 •00 54 70 08 70 83 Do (Given at foot op Street Railways. Bid. Ask. A 10th 8t-Stook 175 185 ColA 9th Are 5s-S«« Stook Bxohl 1st. 135 130 Dry D B B a Bat— Stook. 118 1st gold 5s 1933... JAD 1115 FAA 98* 101 Scrip 5s 1914 895 400 Big nth Avenue— Stook. 32 100 838 lstmor 5s 1904... jaD 1103 Sd mor 5s 1914.... JAJ 110 Con 5s 1948—Set Stook Kxohl 'way Bur' 1st Osga. 1934 {115 Si oslnt as rental. 1905 1103 Central Orosstown—Stock 865 1st 6s 1938 MAN {185 Oen Pk N a BIT—Stook 189% M Oonsol7sl90S.....JaD 106 86 108 340 105 118 1st. 117 105 800 180 801 107 . 105 Scrip 8s 1914 392 43d a Or St Fer -Stock.. 63 42d St Man a St N Ave. 1st mort 6s 1910.. MAS 114* 99 8d Income 6s 1915. JAJ Lei AtA Pay F 5i-8#« Stk Bxohl 196 Ninth ATenue— Stook. . . 109 408 73 116 100 ist 305 Street Railways. Bid. . Consol. 5s, 1948.. .FAA 1117 Sixth Avenue Stock. .... 305 ''on Boulev 5s 1945.. JAJ {111 do Fer 1st 5s 1919.. AAO {108 78 11 87%Jan 66%Jan 10 27 142%Apr 4 May 37 ,, 68%J'ne 77%8ep 38 May 64 Not 84%Apr 90 Feb 24 4 68%J'Iy 2 5 1 68MNOT 188%Jan 143 Jan 7%NOT 1 Jan 4 19 94 Jan J'ne 85 Ask. 300 110 118 825 115 <••••• Third Avenue— .See Stook Exoh Hit. Tarry 5s. 1988 108 110 Yonkers St BB 5s 107 106 38th A 89th 8ts 1st 5s.. '96 {113* 114* Twenty-Third St—Stock. 400 410 Deb 5s 1906 JAJ 100 108 Union By 1st 5s '48. FAA 111 113 WP AM 06 pages).— 81 REET Second Avenue— Stook. 195 1st mort 5s 1909. .MAN {107 — • • May 7%Not t 425 pref. 7 consecutive Christ 'p'r t a St. L. ' Aug 12 9*Mar 26 80 Jan 29 29%Mar 27 tt tt 00*Jan 81 68 Mar 31 100 00 Aug 14 80*Jan 8 I pref. Plttsb. Oln. Ohio, Do 81* 81* •81* 82% 83% •80* at salts were made on this day. I Lett than 100 shares. OUT8IDE 8ECURITIE8 _ 08 08 83 46 May 8S May • • • 1 1 1,840 67 May 14,826 180 J'ne 730 l%Aug • t t tt J'ne 270 ,.,,, pref pref PennsylTanla , ,,, Peoria Deoatur a Hvansv. Peoria A Eastern Pere Marquette ,..,. 5 ••ttt* •• •• *>••.« pref., rot. tr. otfs. Paolflo Coast Oo ss* 93 3 8 Mar 29 8 Mar 27 86 10 41%Apr 21 I pref. Missouri Paolflo.,..,,,.,,. 185 Apr 58 7 I Do pref. 11% 11* Mexloan Central. ..,,...,, •3% 3* Mexloan Nat'l tr. roots... 55* Minneapolis a Do S2H 94* 19 J'ne , etropolltan Street Met. West Side HI. (Ohio.) •105 55* J'ly Deo 80 Apr 13%Deo 33*Jan 8 Not 3 Apr 7%Jan 17*Not 10 Deo 16* Jan 87%Deo 48 Jan 15*Deo 83%J«n 36 Mar 46%NoT 70 Jan 98%Sep 14 Aug 86 Jan 14 Feb 30 Mar 143*Jan 190 Mar 49*Jan 61*Jan 9*Oot 6 May 83 J'ly 87%8ep 53*Deo 66*Sep 105*Deo 182 Jan 10*Mar 15%Ang 40 Deo 62*Ang 7%Jan 16 Mar 63 50 110 J'ly 80 17% Apr 19 •ttltt ••!• #••*•• « • SO Aug 31 43%Apr 3 j *eb 8 May 3*May 34 3* May 21 •••••• 15 Mar ft Ana 10 Feb 2 17* Mar 27 800 80%Mar 16 34%Apr 9 14% J'ne 24 Deo 345 83* Feb 2 100 Apr 2 60 Jan 35 Deo t t tt 1197 Jan 3 212%May 28 196% Jan 208 Jan 800 47* J an 4 89 May 5 45 Dec 85 Apr 4,010 70*Aug 1 87%Apr 8 83 Mar 88%Oot 6,101 84 J'ne 25 101 Feb 14 80*Deo 133%Apr 3,816 144*May 14 183 Feb 13 147 Deo 269 Mar 24*Jan 29 87%Apr 5 13*Aug 29%N0T 65 76 Feb 27 82%Feb 14 44*May 83 Not 860 10*Jan 8 l4%Apr 18 6 Jan 17%Apr 3 JO 6%Sep 1 Jan 2% J'ne 25 5 Mar 17 1112 Feb 3 110 Oot 116 Jan 1104 Jan 22 630 45*J'ne 18 69% Mar 28 35*Jan 78 Aug 400 87*J'ne 18 97*Apr 5 73*Jan 99%N0T 8%Jan 37*Mar 10 Jan 8 27 Apr 24 39 Feb 72 May 60 Feb 6 69 Apr 24 9%Deo 14%Jan •• tt 9*Aue 4 13%Mar 28 700 38*J'ne 25 40*Apr 17 88% Deo 45%Aug 6,250 88%Jan 11 61% Apr 16 33 Dec 22* ApT 100 85 J'ne 20 48*Apr 2 38 Jan 63 Aug 10 U83%Janl9 U89*May 4 176 Jan 1187 Not 2,438 125%J'ne 25 189%Apr 4 180 Deo 144*Mar ll%Dec 19% Jan 11 J'ne 20 14%Mar 29 65 Mar 85 Oot 70 J'ne 29 85 Jan 31 89 J'ne 20 40*Mar 29 89 Dec 41 Jan 1400 May 16 1420 J'ly 13 1360 Jan 1390 Mar 1180 Jan 18 1135 Mar 10 189% Jan ilSSKMh 60 I210*j'ne20 121 5% Jan 8 1198 Jan 1333 Apt 6,030 18* J'ne 30 26* Mar 28 18% Jan 88%Mar 17% Mar 88KAng 4,060 83% Jan 10 40%Apr 18 80 87 Jan 8 81 Apr 28 81% Jan 74*Ang 57*Ang 43%Jan 13,320 48 J'ne 22 Apr 4 1,043 69%J'ne 35 8* Mar 38 88 Deo 81%Jan S3 J'ne 52 Jaa . . 104* Highest, 1.039 . 164* 104 J'ly 554 08 Jan 8 67%Ar>r 5 1,098 110 J'ne 35 120*J'ly 83 1,100 ll%Jan 13 20% J'ly 30 300 43 Aug 13 58 Mar 30 10 Jan 8 18 May 4 7%Jan 81 3l%Mar 87 pref. t 84 78*Mar 26 19 Mar 26 6*Mar 5 17%Mar 5 14%Mar 27 43*Apr 4 23%Apr 4 54%Mar 15 94*Apr 19 15*May22 18 30 J'na 18 03*Mar 9 5* J'ne 600 80% Jan tr.reo. Lowest. 39%Mar 21 15%J'ly 87 Sep 7%Mar 23 8%Jan 4%8ep 47*Mar 87 85 Deo 58%Mar 20* Mar 21 13%Deo 35 Mar 119*Mar 28 106% Jan 135*Apr 415 144% J'ne 83 174*Jan "B" Do 10 2v 90 37 93 4 13 15 • • • 1 ous year (1899). 18 48 14* Apr . . { 15 6 86 11 186 Feb 20 157 Jan 194*Oot 10 24*Mar 26 15% Deo !5* Apr 81*Jan 15%Jan 40%Jan ttt ttt 12* Kan. City So. vot. tr. otfs. Do pref., vot. tr. ctfs. 4 Keokuk a Das Moines •14 38*May 14%Jan 1st pref. 2d pref. 30% 30 t t t • 5 10%J'ne 31 pref. Grr'nB.aw.,deb ofs. "A" Deb. Jan 5%Jan 29 100 a Torre Haute .. Do pref. Ft. W. a Den. O., stamped t. Worth a Bio Grande, 6 81 •••tt Lake Brie a Weitern. Do pref. 309 Lake Sh. a Mloh. South. tt tt 209 60* 60* 64% 64* Long Island....,, 71* 71% 71% 71% 71* Louisville a Nashville.... e }* 91% 91% 92% 91% 91% Manhattan HleT.,ooniol. 30* }80 •UK 82 I t , 46 71* 71* 70% 71 91* 91* 91 91* 90% 91 153 153* 153 159* 153* 153 163 6 . 34% 34* 34* 34* •84 34* Hooking Valley 63* 83* 68% 63* 163* 63% Do pref. 118*116* 1117% 117% 116% 116* 116% 116* Illinois Central..,, „ 19 19 18% 18% 18% 18* 18* 19 l-owa Centra!. 44 46 14 46 44% 46 44 44 Do pref. 14% 16 •14% 16 •14% 16 14* 16 Efanawhaa Michigan... «30* 30* •2* 4 15 •88* .tt ttt 6 tt for prev . 1,300 1,800 reat Northern, Range Mar 36 14 Apr 19%Ott Apr 8 88 May 48*O0t 39*Apr 8 17 May 24 K F «0 58* Jan 11 74%Apr 8 60%Jan 68%Aog 05*Jan 8 89% Apr 19 43%J'ne 61%Apr 78%Jan 9 90 Apr 16 67*J'ne 80%NOT 49 J'ne30 80%Apr 10 61 Deo 187 Apr 03 Feb 37 73 Aug 29 30*Mar .69 Not 93 Jan 18 115 Apr 26 69 May 103 Det 80%J'ne 30 99%Feb 13 84%Mar 99%May 47%Feb 87 58*Apr 7 46*Deo 70 Jan 91*Feb 86 93 Feb 26 85 Feb 94 Not 110 Jan 6 188 Aug 23 97 Jan 186%Not — 84 J'ne 80 S3%Apr 83%May 81? 119%Jan 10 183%Apr 114*Deo 149) 37 Apr 30 39%Jan 15 35 Deo 68J. 88 Jan 31 109 Mar 27 59%Jan 100*8ep 130 Jan 17 126 Aug 15 112% Jan 183%gep 10 J'ne 18 15* Apr 2 10%Deo 80%Jan 81 J'ne 19 89 Feb 1 83 Deo 10 3% Aug 68*Aug 22 78%Apr S 50%Jan 86*Aog SO J'ne 33 42 Mar 31 88 J'ne 44%Sep 14 Jan 16 29 Apr 16 7%Jan 19 Not 40*Jan 34 63%Apr 31 Jan 02%Not 108*J'ne 85 126% Apr 113 Deo 136*Sep 169* Jan 18 174%Mar 21 165 Deo 179 Sep 150*J'ne 25 167*May 22 141*Jan 173 Sep 19 5* May 9 303 Aug 34 188 Jan 210%8ep 102 J'ne 25 114%Mar28 100 Deo 133%Jan 112 May 12 123* Jan 31 91 Feb 136*8ep 175 Mar 3 170 Jan 185 Sep 172 Feb 13%Apr 27 9 Jan 7%Jan 85*Mar 30%J'ne 35 39%Apr 27 31%Deo 58%Mar 55 J'ne 19 66%Mar 30 43*Jan 64%N0T 103%J'ne 1 lll*Mar 39 94 May iou Dee 14*Jan 10 28 Apr 27 9 J'ly 16% Jan 46 Jan 2 72 Apr 19 87*J'ne 49%Dee ll%Dee 9 Jan 4 12%May 8 6 Oot 688 110 J'ne 710 174 Jan 100 16%Jan 120 64* J'ne 13 J'ne 163% 63% tl • t I •14 44 14* t t • t . Bvansr. 153* 1153% 103* tt 16%Mar 8 40%J'ly 84 18% J an 8 pref. Do Do Do • t 280 800 Southern 1st pref. do 3d pref. do Erie. 84* 34* 34* 34* •116* 117 .5* ig* tt a Oes Moines a Ft. Dodge.. Dul. So. Shore a AU •••••• 6 •15 100 a Wheeling. . 15 I 862 . prof. Colorado Mid., rot. tr. otf s. Do pref. rot. tr. otfs. 42 It • t 15, pref < 68* 68* 63* 63* A St. L.. . . ••••I ••••«• •84% 84* ttt Do •16 16 17 18 16* 17 Do 111% 118* 111% 118* •111% 118* Delaware a Hudson . 176 177 177 177 177 •170 177 177 el. Laok. a Western. 13% 19* •18* 19* Denver 19 19* 18* 19* 19 a Bio Grande. . 187* 67* 6 7 67 66* 67* 36% 87 Do pref. 16 17 113* 118 153* 162* 152* 158 •158 • • • • • • • • • prof. CIot. Oln. Ohio, - •88 9,870 Om... Do 13 !o" •18 10 13 15 13 15 •4 •4 •4 4% •4* 4% 4* 4 12 J" •a* tt4K •11* <••••• 11 16 18 18 ttt 10* 10% ii 11* •10% 11* •10* U* 11* •10* 11* 33 S3* 33% 33% 33% 34 84* 33% 84 34% 34% 16 18 •15* 16* 16* 16* 15% 17% •18 17 •42* 45* 43* 40 43* 45 •42* 45 40 40 83 84 80 84 •80 84 *8J 84 64 84 84 •10% a 490 760 363 Do pref. Ohio. Terminal Transfer. 58 110 37 68 •6 Minn, Ohio. St. P. i2« 30* •41 •••! •• Capital Traction New Jersey.... 27* Chesapeake A Ohio 125% Chicago Burl. A Qulnoy. 69* §38 23 34 58 lllllt Central of *•••!• 98* 125 108* 135 Range for year 1900. of the On basis of ioo-sh're lots Week. Shares Lowest. Highest. Bales N. T. 425 1. Weekly and Yearly Record. Daily, Prida Page (2 pages) 8T00KS—HIQEBST AND LOWEST SALS PRIORS. Saturday, Aug. 25 1 1tI . 8 43 80 May 88 Jan Feb 100 Atg RAILWAYS, Street Railways. Westohest 1st 5s '43. J AJ . BBOOKLYN. 1909.AAO AAO Con 5s g 1931 Dnpt 5s— See Stock Bxc B. B. AW.B. 5s 1933. AAO Atlan. Ave.,5i Brooklyn City— Stook.... Cons St— See Stock Exc BklynCros8tn5sl908.JAJ BklnHgtslst 5s 1941AAO 8'kyn Q Co.A Sub— See St Blrlvn Rao Tthti.— «ta* atn <*c. . ..... . .. . . THE CHRONICLE. -STOCK PRICES (2 pages) 426 8T00K8- HIGHEST AND LOWEST SALE PRICES. Tuesday, Aug. 28. Monday, Aug. 27. Saturday, Aug. 25. 17* ~16* 16* 57% 58 67% 58 *m 88% •87 89 e * « •16% 17 •7% 116% •16 •9% 10 •14 •110 •67 33% 83% 18% 13* 30% 80 33% 83* •11 11* 53 62% •14 14% 11% 53% 52H 14 14 • , •35 •45 » • # • • • t • * • ••••• • • « • • 8t. • 58* 66% •••• Do Do 188 "33 16 164 64 15 •61 138 15 64 •18% •8* I 46 124 •13* •87* •85 168 •3i% 33 '65 67 10% 10 154 •58% 63% •53% 53% •4% 5 4% 4% 83 36 •33% 84 •36% 37 36% 36% 52 167% |'55 88% 83% •65 9% 68 10 1 33 65 9% 4* 93 36% 88% 84 68 4* 84 36* 36* 89 89% 19% 1«* 18% 18* 18% 67* 36% 67* •65* 187 67 35* 84* 84% 84% 34% 74* 74% 74% 74% 74% 74 118*119% 119% 120% 130% 181 183 118% 121 139% 38% 68 62 „** lstpref 70%J'ne i',550 17 J'ne 8 J'ne 48 Aug 3d pref. 605 new 50 530 16 89 Do ? 39 700 850 pref Amerioan Linseed 1,358 Do •4* Do pref. 736 800 100 Amer. Smelting a Refining 8.770 Do pref. pref. Amerioan Malting •84 86 189 89* 135%Jan 8 3 1 5* Deo 42*Dec 22*Dec 35*Jan 33%Mar 20*Mar 87 J'ly Jan 2 1130 57 18*Jan 15 57%J'ne3S 38%May 9 J'ne 8%Deo 64 May 38*Deo 6*Jan 49%J'ne 25 J'ne 12 18%J'ne 87 34%J'ne 18 85 J'ne 36 17 J'ne 35 64* Aug 38 Amerioan Steel Hoop 55 18 Jan Oct !4%Feb 75*Jan 44%Jan 18*Aui 10*Aug May 44*Not May 14*O0t 10% J an 58%Not 13*Dec 85%Mai 17 87 10 Jan 117*Dec 843 Feb Apr Apr 18 Feb 67%Apr 37*Apr 100 Apr 33%Jan 26 3 3 31%Dec 32%Sep 13*May 81 Not 45 Dec 59 Ang 30 1108 Jan 1119 Feb 7 10%Dec 9 51 Dec 68%SeV 7 30 Deo 46 Not J'ne 35 Jan 8 6 88%Jan 32 30 Oct 34%Jan 4 1113 Mar 6 159 May 2 183 J'ne 37* J'ne 26 49%Apr 31 Deo 60*J'ne 19 78%Feb 73* Deo 9* J'ne »i 16* Feb 8* J'ne 30 90 843 Jan 38*Mar 44 Not 66 Jan 90*NOT 3*J'ne 7*Dee tW™ 111 3 Highest, 30 Jan 39 Apr 85 Jan 45 Dsa "68*Jan"84 38 Jan 78 Apr 149 Apr 18 118 Jan 141 Feb 10 60%Apr 4 38%J'ne 51%DM 38 78%4.pr 4 68%Deo 84*Jan 16 9%Apr 37 6%Deo 85 84%Apr 27 19 May 18 ll*Mar 36 7%Deo 18 Aug 30 58%Apr 3 45 Dec 64 Jan 8 1,724 pref. Amerioan Cotton Oil. .... pref. o Amerioan District Tel .... Amerioan Bxpress. • American Ice 15* Mar 27 6l%Mar 27 Apr 17 81 21%J'ne 18 18 J'ne 8' "482 pref. Do 32* 44%Jan 6,019 i 10% 10% 53 665 61%J'ly 136 Jan 1,800 SS . merloan Car A •25 •154 45*Mar Range for previous year (1899) Lowest. 81*Apr 4 66*Apr 5 35%Ai r 5 65 Aug 17 93 Mar 22 10%J'ne 35 49%J'ne 85 13%J'ne 35 lecellan's Stocks •61 33 65 new Highest. 16 J'neSO 49 Jan 9 86 Jan 9 43*Jan 37 80 Jan 16 8%Mar pref B., Adams Bxpress.Foundry 138 •88% •88% 84', Do 31 100 ...pref. Wlioon. Central, II Lowest. ••••sees By Do Do 41 8< •33 33 •88% 34 138% 33% •88* 90* •88% 90% •86 88* •85 38% •165 I 989 500 144 pref. Wabash. Do Wheeling * L. li {15% 15% •61 1,040 Transit. Do •7 for year 1900. On basis of too-sh're lots pref. 1 Jnlon Paolfle ITI •138 •15 tr. otfi. pref., Tot. tr. otf i. Twin City Rapid 63 58* 59% 76% 1( 695, 134 . Texas* Paolfle hlrd ATenue (N. T.)... 110*110% •35 Toledo * Ohio Central .... 63 Range [Vol. LXXI. 2. 5 May 34 7%Aug 81 38*May 38 49%Jan 2 800 ll%J'ne86 16*Feb 5 886 8%J'te35 12 Mar 31 66 J'ly 18 72%Mar 30 860 31%J'ne38 39 Mar 80 4,960 8*J'ne 20 18%Mar 26 12.185 21%J'ne 33 34* Apr 16 10,510 30%J ne 18 13 Mar 27 pref. Do 7 1! Louis Southwestern. Page 1 130 Southern, Toting 76V 7* 18% 18* 9 9 145* 45V 123% 88* 13* 15 37% 39 •134 15 pref. TOt.tr. oti. lit pref. 3d pref. 8. Fr., rot. tr. otf i 1st pref. 3d pref. Southern Paolfle Oo •• •«• 59 76 18,890 1,800 AG. in. Do •45 •••••• •*•*«• J. Do Do St. L. A Do Do ..... •••••• •••• Do St, •109% 110% •*>• lit pref., Tot.tr ctfs. 69 69 730 . 3d pref., Toting tr otfs. Bio Grand* Western 10 33% SU% 118 •85 •45 •9% 133% oavt 18% 67% Reading, to ting tr. otf 28 69 •67 18% 13* 89% 80)4 33* 83* n* im 16* 57% 67% 38 Sales of the Week. Shares 3TOCK8. T. STOCK EXCH N. Aug. 31. 54 85 88* 7% 7% 7% 47* 16% 47 16* 16% 16 •54 ?% *46 47% •15% 18* 9% -X* •66 69 •33 88% 13% 1*3 89% 80% 88% S3* 63% 38 59 Sv »••*•• •7% •11 57% 67 •37 60 00 » • • Friday, Wednesday Thursday, Aug. 29. Aug. 30. ie% t J . 60 Feb 7*Jan 31*Jan 43%Feb 93 Mar 24 50%Feb 6 ll*J'ne 6%Deo 34 Dec 30 Dec 77%Dec 97%O0t 53%Mar !160*Aa i$% 16*N0T 81 DM 37%Jan 87%Jan 59 Apr 94%Apr 10,690 84 May 48%Not pref. 1,470 Do 70 May 86*Sep 86 Feb 6 67* 36 Amer. Steel* Wire (new) 40,584 38*J'ne 35 59%Apr 2 83 Deo 79 Mar 2 pref 5,277 69*J'ne 84 Dec 10 6* Mar Do 95 Feb 1 74* 120* Amerioan Sugar Beflnlng. 163.846 95%Mar ' 137* J an 4 114*Deo 182 Mar pref 100 107 Mar Do 118 J'ly 14 110 Jan 123 Mar 116 118 •116 118 lie lie •116 118 •lie 117 •118 118 190 J'ly 88 i 98%Jan 13 194 Dec 105 Apr 90 93 •90 98 Amerioan Teleg. A Cable. e • • e 93 •89 89 93 •89 •89 93 93 11,330 18 J'ne 26 36%* eb i 30 Deo 58*Apr 29 39% Amerioan Tin Plate 37 27% 88* 28* 80 37% 87 86 88 26 pref 2,503 70*J'ne 26 81*Apr 9 74 Dec 99% Feb Do 80 79 79% 80* 80 79 78 •76% 78% »79% 79% 178 25 339%Apr Tobaoeo 38,715 J'ne ....... 14 t78*Deo American 84* lll%Feb 93% 93 93% 93% 93* 93% 94% 98 91% 93 98% 93 pref. 10 128 May 17 110 Feb 16 181 Deo 150 Msr Do 138 133 •138 133 1139% 188% • •» • • 1,790 37%J'ne 85 51% Apr 3 31* Deo 70 144% 46% 44% 44% 44% 44% 44% 44* *44* '44% Anaoonda Copper 44% 45 2 175 May 31 130 Deo 160 Mar •toe** 110 Jan •166 174 •167 174 167 174 167 174 •167 174 •167 174 Brooklyn Union Gas 25 DookAC.Imp't. 9*May 80%Aug 100 6*J'ne 16%Jan 26 runsw. *<J* 7 7* •6% 7 7 •6% 7% •6% 7% •«« 7% 5%Apr l%Jan l%May 7 2% Apr 10 Colorado Coal A I. DeT't 30*Feb 64 Sep i',750 99% J'ne 18 51* Apr 2 olorado Fuel A Iron. . . 35* 85 35% 84% 34% 34% 34% 84% 84% 84% 36% 35 pref. 130 J'ne 8 131*Jan 17 88 Jan 180 De« Do •116 ISO* 116 180* •115 120% »U4 18f% 114 131* 119 130* 600 ll*J'ne3S 31 Apr 3 6*Feb 3l*8ep Col. A Hook. Coal A Iron . 14* 16 »14* 16 #15 15 15 16 Consolidated •14% 16 •14% 16 (N. T.).. 7,356 *167*A'gl4 Gas 199 Jan 3 163 J'ne 383*Mar 173* 174* 174 174* 175 175 174 174* 173% 174% 173* 171 81 Deo 65%Apr 7,906 Tobaooo 81*May Jan 3 80 Continental 38 36% 36% 2e% 26% 26 86 86 85% 86% 25* 25* 36 pref. 1,315 70 May 12 89*Jan 8 71 DO' 103%Aug Do 78* 78% 78* 177% 77% 79 78 •77 78* 77% 77% 79 63 Jan 101 Aug 90 Aug 18 98*J'ne 11 Detroit City Gas 93*Jan 180*Oct 101 Jan 3 12 %Feb 39 Brie Telegraph A Teleph. J'ne 85 39*Deo 75 Apr Steel 9,876 26* 57*Feb 6 83* 33* 33* 84% 34% 35% 34% 34% Federal 38% 34 83% 84 pref. 2,047 60*J'ne 36 77*Feb 6 67 Deo 93*Apr Do 67 67* 167% 87% •66% 66* 66% 66* 65% 8ft* 66* 67 650 64 May 17 81 J'ly 17 ..... .... 77 77% 77% 77% 77* Gas A Bleo. of Bergen Co. 77 76* 7t* 77 77 95%Jan 138 Not 1,87 120 Jan 10 110*Aug 80 138* 139 189 139 General Kleotno •187* 138* 137% 188* 137*137* 138 138 870 44 May 15 58* Feb 5 37 Dec 76*Mar 58 51* 51* 51* 5i* 51* 51% Glnooie Sugar Refining. •51* 52* 51* 5!% 158 ' pref. 100 98 Jan 101%Feb 1 95 Dec 110 Jan Do 98 99* 99* •98 99* 98% 98% •98 9w% 98 90* •98 97 Jan H7%J'ly 106 J'ne 35 115%Jan 11 103 •• • • 103 H. B.ClafllnCo 103 103 •103 103 310 14*Mar 35%Jan 3 17 Deo 68*Jan 33% International Paper-- . 139% '3S% •39 •83 38* 82* 32* 88% 32* 33 "23 626 58 Mar i>ref. 70*Feb 6 62*Dec 95 Jan Do 68* 66* ee* 167% 67% 166* 66* 386* 86* 166% 66* 66 600 31 J'ne 30 80%J'ly 11 39% 39% 28% 88% 98* 38* 88% 38% 88% 88% •88* 29 International Power 300 3%Aug ; 10% J an 36 9 Dec 36 Feb Imernatiuuiu aiiver...... •3% •3% 6 •3% 5 •4 5 4 4 4* 34 J'ne 39 10 Feb 13 80 Dec 63*Feb Knickerbocker Ice (Chic.) 15 83 •16 80 ••tee* •••*• sees* ••••• pref. 52*J'ly 81 66 Feb 8 70 Not 84 Feb Do ...... 59* 51 Mar 85 Dee 65 May 10 80 Jan aclede Gai (St. Louii) •73 73 75 •78 •73 75 75 •75 75 76 •75* 76 96*J'ly 103%May pref. 96 Jan 11 100 Jan •98 100 98 100 Do •98 •98 •98 100 •98 100 100 100 39 Apr 6*Jan 30 18*May 6 Jan 10 15 •10 12 •10 18 10 13 Manhattan Beaoh Co •10 •10 16 15 31 Deo 63 Jan 1,210 33 J'ne 31 10*Feb 32* *31* 33 National Blioult •81 31% 81* 81* 31% 31% 81* 81% 32 pref. 30 79*J'ne 18 98 Feb 89 Dec l07%Jan Do 80 87 80 87 186 66 83 86* •82 86 86 186 98*Deo 40*Jan 100 15%Aug 11 38%Feb 18 National Lead..,.. •17% 18% •17 18* •17* 18* 18 •17% 18* •17 18 115 Jan 11 103*Deo pref. 30 83 106*Feb 30 Do 91 90* 188% 88* •88* 91 •88% 90* •88* 9C* 88 31*Deo 68 Apr 4,576 30 J'ne 33 53%Feb 6 9-;* National Steel •86 3f* 25 87 87 35 86 86 35 86* 38 3,: 68 pref. 79* J'ne 36 97 Feb 6 85 May 99%Aug Do 86 86 84% 88* 84* 85 84* 84* 84* 84* •84% 85 8,40* 40%J'ne 36 54*Apr 5 46* 46 46* 46* 46* 46* 1«% National Tube Co 46 4«% 46 46* 446 pref. 8,302 8 6* May 14 93 A-gSl Do I9i* 93* 92% 92* 92% 92* 92* 93% 93% 83 92% "30 83 Aug 15 37 Apr 30 36 Oot 43 Jan •30 •30 30 35 NewCent.Coal (new stock) •80 86 35 35 IS* •30 35 Brake...., 115 May 1 150 J'ne 7 110 Dec 880 J'ly Air 188 187 198 137 N.Y. 135 •188 135 •128 136 138 185 128 6%Jan 17%N0T 810 13%Jan 83 15%Mar 36 15 15% 15 15* 15 15 15 15* North Amerioan Co •15% 15% 15 IS 6 Mar 10%Apr •6 •6 6%J'ly 7 9 Feb 8 Ontario SllTer •8 7 7 7 7 7 7 "P75 35* J'ne 11 47*Jan 2 86 Deo 55 Jan 30* 31* 31 31 83 30* 31% PaolfloMall •30* 88* 30* 81* •30 90*Dec 1 99* Apr eopTsGas-L.AO.(Chlo.) 41,593 92 Mar 9 lll*Apr 9 96 96* 96* 95% 96% 66 96% 98* 95* 95% 96* 95 4 1* J'ne 61 Aug 1,595 37*Aug 98 58* J an 17 38 38 38* 39% 39% 89% Pressed Steel Car S3* 38* 88 38* 37* 38 pref. 800 71 Au. 25 88*Jan 17 75 Deo 91 Sep Do 72 72 72 78 73 71 71 69 7 * 71* •70* 72 307% Oct 150 176 J'ne 26 189%Jan 19 •186% 189 1187 187* 187 187 186 188* •187 188* •186% 18^* Pullman Company 33%8ep 8,565 8* J'ne 25 27*Feb 6 13 12* 12% 12* 12% 13 12% 18 Republic Iron A Steel. 12 11% 79 Aug 55* 51* 55 pref 3,430 49 Aug 1 70*Feb 6 Do 54 •53 54 55 51* 53% 53% 53* 85 Apr 5S 59%Jan 16 60%Mar 8 jllTer Bullion Certlfs. . •61* 22* •61* 62* •61* 62* •61* 62* •61* 68* •61* 62* Sll "300 19 Aug 80 23*J'ne 15 loss-Sheffield 8. A I •20 •80 84 ;2 •20 •20 19 81 32 S3 19* •19 pref 59*J'ne 25 67 Aug 80 •66 Do •6«* 67 •67 67 •66* 87 •67 e* * 67 68 68 6%8ep 15*Not 333 4*Mar 8 10*Jan 3 A Twine. 6* 5* •5* «* •6% „?* •5% 6 Standard Rope 16% 5* 5* Iron 36 Jan 136 Sep BR A .. . 6,885 68 J'ne 36 104 Feb 2 70 68% 89* 70 70* 70% 71* 70* 70% Tenn. Coal 70 69* 70 15*Jsn 11 Not 13* J 'ne 19 16*J'ly 11 see* •11* 16 •14% 16 •14* 16 •14* 16 Texas Pacific Land Tiust •14* 16 •14* 16 17*Deo 45 Mar 75 10 J'ne 18 85 Feb 7 •11 •11 11 18 12 11* 11 12* »K% 10% Union Bag A Paper .... 18* 11 Mar 89 pref 991 56*May 9 77* Feb 8 71 Dec Do •34% 64% 184* 64* •61% 64% 64% ««* 66% 66* 61% 65* Jan Mar 13 !49*Mar 31 445 Dec 60 • s e e • • 145 United States Bxpress.... •45 •45 •46 •45 45 47 47 47 47 46* 45 47 7*J'ne 35 19 Jan 3 5* J'ne 10%NOT 4,950 lr % 1094 10* 10* United States Leather 10* 10% 1C* 11 10% 11 64*Deo 81%N0T 880 65 J'ne 35 77 Jan pref Do 69 168% 68* 68* 69 69 68* 68»4 168% 68% 68* 69 37%Deo 57 Apr 6 44 Jan 3,664 81 J'li 99* 29% 291* 89 &9% 29* 29% 3'% United States Ru bber. 29* •89* 80* 99 99* Dec 191 J'lT pref. 185 90 Feb 87 104*Jan Do •94 •94 •94 95 85 97 94 961. 95 94* 94<„ -94 190 Dec 135*Sep Fargo A Oo 10 130 J'ne 1 U89*Feb •195 130 1125* 135* 185 130 •185 180 195 180 •124 13<> WeUs, Union 82 Deo 89*J»o> Telegraph 618 77*J'ne 38 88%Jan est. •79* 80* 79* 70* 180% 80* 80 80 79M 79* 179* 80 itockdlT. t Ex rights. • Bid and asked prloei: no sales on this day. I Less than 100 shares. tBx 100 p. c 30* 20 67* 67* 37% 85* 75* 74% 181% 117* 20 • , . ; Am 6 6 6 U% % . 1 J* K% K* OUTSIDE SECURITIES Street K.ali> <w Ooney Island A Brooki> JAJ 1st 5s 1908 > is oertfs lndbtlOOS.JA.i B'kC.ANew 5s '39 J 4,1 Sr.Bt.ANew lst5s'06AA< G'p't A Lorlmer St. 1st 61 Kings Co. Hleraied.— lit 4s 1949 If assau Bid . 108* 103* 101 114 101 J 1 90 JA.1 T«wWmb'gAFllstez.4*e PtnltiwaTl.fW.1093 1 ' 80 113* 91 5 me* Street Hallways. OTHBR 11 B Bid. C1TIBB. Buffalo Street Ry— Stock. 1st oonsol 6§ 1931.FAA MAN RR— Stock. Deb 6il933 Chloago City 8i% 88 75 AA' 115 1 5 U'6 Bleo pref 6s 1944 lit 4s 1948 Ask. 325 (Given at foot of Indianapolis Street Ry... Clereland City Ry Clere City-lit 5i '09. JAJ Cleveland Bleotrlo Ry.... MAS Con 5s 1913 Columbus 10) St Ry...... Preferredte s * « e * • s • • e i • • 100 *116* 1108 350 oonsbouttve paghs).— STREET RAILWAYS, do. Bid Bid. Ask. Street Hallways Htren KbIIwhm Ask. «r SO New Orleans City Ry ... list. Col St Ry— Con 5s -Set P blla. 96W 98 Preferred CroMt'wn— 1st 5s. .... 1107 no 900 8P0 15* 17* North Chloago— Stock.. J C Hob A Paterson •sees* JAJ 107* lo8 1st 5s 1906-16 1949 MAN 79* 80 4i g N v see 82* 94 7 111 365 34* 100 108 83 108 . . . 1 • 101 101* 81 me 89* 8' 83 80 Kansas City BO 6i North Jersey St.—Stock 1108 81 84 89 Bonds 10* Pat Ry oon 6i 1931 JAD 100 AAO ira Qen6i 1911 94 91* -ot A Pawt'ok-lit,6i '33 41. 3* 116 Louliv St Ry— 5 p o bondi H18* 119* 17 16 loohester Ry 88 89 Common. AAO 1107* ..... 118 Oon Si 1930 11V Preferred JAi Guar «• 1939 Lake St iChio) Bier-Stock JAJ deb Si 1928 1 > se • e • «* , ynnABos-lst 5s '84.JAD #113 Mlnnoap St Ry-5s'19.JAJ {108 I 1 108* JAD 3d 6i 1983 i Buyer payi acoraou 89 ni« 84 •St. Sept. J 9 . THE CHRONICLE —BOND 1900.] 1, — NN » BOND3 T.YJSTOCK EXCHANGE Wbbk Ewdino ACS. 31. Price Friday, Week's Range Range or tinee Aug. 31. Last Sale. Jan. 1. 91* 91* 100* AtchTA8Fegeng4i..l995 1995 A-O 85* 1995 NOVT 1995 NOTt ••••*• Registered 1»95 NOTt Stamped Bqnlp tr ser A g 5s. ... 1 902 J-J Chlo A Bt Lou 1st 8s.. 1915 M-s '115 Atlanta A Char. See Sou By. Atl Anox A No 1st g 5s. 1946 J-D 103 Atlan A Danv See South Rj Atlao A Tad. See South Ry Austin A NW. See. Bo Pao.. Creek A S. See Mich Cen Bat J 84* alt A O prior 1 g 3*6.1925 1 19251 J Registered A-Ot iooii 1948 Gold 4s 1948 A-Ot Registered 87 * Bonthw Dlv litg S*s.l925 J -J 1925 J -J Registered " "86 PJunAMDlv 1st g S*sl925 M-N Adjustment g 4f * * - • • ' w Registered Sale • • • • • * 1 199*1 99999 • * • • I •••••• •••!»• ••*•• •••••• •••••• • 90 99 ••• ••••e • Chlo A Mo Rlv Dlv Si. 1936 J-J '180 1910 Chlo A Pao Dlv 61 -J •118 Chlo -J 'U8* 1st g 5s... 1921 Dak A Gt Bog 5s 1916 -J •1 in Far A Son asm g 6i. .1924 -J 135 1st Hast Dlv 7s... 1910 -J 127 ••••< 100* 106 Apr '00 106 84* 99% 100* 100* J'ne'00 Sale 87* 87 Sale • • Mineral Point Dlv 5s..l9l0 1st So Minn Dlv 61.... 1910 1st Southwest Dlv 6s.. 1909 102* 101 Wli AMlnn Dlvg 5I..1921 Mil A No lit M L 61.. .1910 91* litOoniol6i 1913 ChioAN'west—Oon 7I..1915 91 97* 140 100 "74 66* "87* 86* Ang'00 86 111 May'00 HI J'ne'99 113 • 1 Registered Extension 4i. .. .1886-1926 Registered. ...1886-1926 Gen Gold 3*i 1987 Registered 1987 Sinking fund 61. 1879-1929 ••••• • See Hrle. M-S 1937 1947 114 J - 1 124 Debenture 6s Al AWeu l8tg4sga.H98 A-O 101 ClAMahlstgug5s...l94S J -J 118 Rooh A Pitts 1st g 6s.. 1921 F-A 126 1922 J-D 125* Consol 1st 6 Ban* A Southwest. See Brie. BnffASasq 1st gold 5i.. 1913 A-O •102 Registered 1913 A-O 114* 113* 118* .... .... .... •••••• 103 t29 127 124 J'ly'00 J'ne'00 .... 100 Nov'99 • Registered ....1879-1929 Sinking fund 5I..1879-1929 Registered.... 1879-1 929 35-year debenture 5i .. 1909 Registered 1909 30-year debenture 5s..l921 Registered 1921 Sinking fund deb 0i... 1933 Registered 1933 Des Mo A Minn 1st 7i 1 907 106* 118* 116* 105 M A 8t List gug 7s.... 1927 J -D 107 109 1918M-S 3d 5s Registered 1918 M-8 Oarb A Shawn. See 111 Cen. Oar Cent. 8m Seab A Roan. Carthage A Ad. SeeNTCAH. 2 108 5 115 106* 118* 117* 3)1 107 107 108* Aug'00 108 DP 87 1st g 4s.l948 See Bait O. Ry— lit g 5s. 1945 Apr'00 104 . 1946 MldGaA Atl Dlv5s...l947 Mobile Dlv lstg 5s.... 1946 Oantof NJ-lstoons 7i.l902 General gold 5s 1987 Registered 1987 Convertible deb 6s. .. .1908 Am Dock 4 Imp Co 5s.l921 LeAHad Rgen gug5s.'20 Leh A B C 5s 1912 Con extgaar 4*s...l9ic Cent Paolfl o See So Pao Co OharlesASav lstg7s-..1936 Cbe»AOhlog8s ser A..1908 Gold 6s 1911 litoong5i 1939 Registered 1939 W J -J J -J U-N 107 -J 122* I 121* M- N 132 M-N 104 y-M| A-OI VI-N U9* 1989 J -J . . . Dlv 5i.... 1905 F-A DenvDlv4s 1922 F-A Illinois Dlv g 3*i ...1949 -J Registered 1949 -J Iowa Div sink fd 5s ...1919 A-O 4s 1919 A-O Nebraska Bxten 4s .... 1 92 7 II -N Registered 1927 W-N Southwestern Dlv 4s.. 1921 M-8 Convertibles! 1903 M-8 Debenture 5a. 1913 W-N Han A Bt Jos con 6s... 1911 .H-8 Ohio A Bill. 1st sfcur 6s, 1907 J-D Small 1907 J-D lltoong»s. 1934 A-O Gen oon 1 st 5s. 1937 M-N Registered 1937 M-N Ohio A IndC By 1st 5s 1936 J -J A Iowa I 108* 109* ' 118 130 J'ly '00 105 101* .... 116* J'ne'00 117* J'ly'00 117* Aug'00 117* .... 117 90 US* mo Bale 90 100 100 • 106 108* 10R* 101* 10«* J'ly'00 93 General gold 61 130 110 103 102 99* "01* ... 102* 103 lstg 116 105* 101 CC 103 104* 104* 100* 102* 100* 105* 115* J'ly'00 105* J'ly'00 115* 117 Ill 111* HI* 1U* 95 120 102 103 107 108* 113 103 132 122 113 U4* J'ly "00 Aug'00 115 115 133* 138 1 100*112 Ang'00 Aug'00 Aug'00 HI* Outside 8ECURITIE8 (Given 00 m foroeiter (Mass)Tr-Com Preferred flu 51* 80* 31 66 85 68 1 85* HI* 99* 100 102 80 100 103 88 ...1914 7i 1914 Gen oonsol gold 6s . . 1 93 1 Registered 1934 f 119* 113*117 117 110 107" i'0'9* ..*•»• • • • • • e-e 18* 188 1 *•••• miii e 103* 108* 12* 118* 112*118* 1 111* 132* 135* 139* i9*i* 137* '37* 137* 110 120 li*9* 189* 105 106 129 137 184 98 96 183* 108*108* 105*107 56 86* 86* 114 107 140 133* J'ly'00 131 132 140 May'00 May'00 140 130* AugOO 93 Aug'00 106 uou 99 118* Aug'00 A-O J-J M-N 1 186 140 138* 92* 97* 37 118 130 103 108 Got. 99 103 120 J'ne'99 Jan. 00 Aug'99 113* 103* Oot»'97 112* Aug'00 113 112 186* 38 1 . . • • • sttni 112*114 Amsterdam Gas— 1st oonsol 5s Gold 5s— See N. T. Stk J | J 97* 07 98* 98* Sale 97* • • • » To 9»V 103 99 Aug'00 90 90 83 Nov'99 *•••• •••tie 130* toe Aug'00 »•• . •••99 • 28* 137 Aug'00 131 Lor A Wn oon lit vs ,1990 5s. 26* 109* 1933 •••It ••••99 84* 98* 24 84* 106 109* 19 2P* 26 20 109* J'ly'00 128 May'00 ISO 7** 74* 74* 76 74* Aug'00 82 84* Sale 74 75 82 105* 114" liiii 185* 186 35* Aug'00 1 98* 00* 104* May 99 14 136* •••••• 93 1 105* Aprv00 114 135 98* 94 31 J'ne'99 108 104* J-D J-D J 97* 98 98 180 20 68 79* i'o 82 80 87 A H VaL Be* Hook Val. Ool Oonn A Term. SmNsW Conn A Pas Rtvs 1st g 4s.'43 A- O DakAGtSo. SssCMAStP. •Has A Waeo. SesM K*T 116* iDaeNov. Due June. TDueJan. iDaeMay. aOptlon sales. oDueAug. cDue AprU. dDneOeS. 100 113 I Bid. 7 Ask. YORK. NT Bleo Lt Ht A Pow— 107 116*119 CASlltMCOOAI7l.l90\ A O 104*100 108*Feb V99 OInd A W litpf •*... 1938 100 ••••• •••••• Peo A Bait lit oon 4s. 1940 87 87 86 ,.,,, conseoutivb pages).— GAS flat Securities. Bid. N Y A Bait River Gai— 1st 5s 1044 JAJ (110 Consol 5s 1945 JAJ 106 Nor Un 1st 0i 1937. .MAN 103 108 Cent Union Gas— 1st 5« {106 Oon Gas (NT)— Stook— TBtk Bxoh Standard Gai—Common. Preferred ,., Deb 5s 1908 MAN 90 93 1st 5s 1930 MAN Bq ult GasOTHBR CITIB8. Con. 5s 1933 MAS ?H8 M6 Baltimore Consolidate- Bt 310 Mutual Gai. 300 N. 107 105*110* Col 117 107 at foot of Securities. NEW 18 51 117 115 Ang'00 Me prtee Friday; lateit bid and asked this week. IBonds due July. Ask 113 10 115 A I consol 7i Consols CI 134* 136 134 Aug'00 IIS 115* '15* US* no .... 103 118 J-J<* Clev A Marietta. SwPaBR. Clev A Mahon Val g 6a,. 1938 j -j Registered 1988 Qa-J Clev A Pitt*. 8m Penn Co. Col Mldl'd— lit gS-4i... 1947 lit 8 *'• ••••••••••••• •* 184V Col A Son lit g 4s 1939 Jul A 9th Av. SssMetStRy. Jolum A Greenv. B$» 80 Ry. 102 120* 132 108* 112 119 122 112 118 102 Jan. 00 125* Aug'00 110 Aug'00 109* 98 HO Deo '99 105 117 99* 4s lneome 4a. 111* J'ne'99 Bid. 107 Nov* 98 May'00 115* May'00 1 09 J'ne'00 100 1936 u-F Registered ........ 1936 <j-f Cln 8 A CI oon lstg Si.1928 J-J 10P* 113* Aug'00 104* Apr'00 103* J'ne'00 102* 102* 112 (Chlo)— Stock. JyraenseRap.Tr., 5s, 1946 union Trao (Chlo) Com. Preferred Jnlted Rys (StL Transit) Preferred Gen 4s 1934 J&j Jn'd TrABleoi Provj-tji « feet Chicago Oon f 5s 1936 ....MAN 08* 118 08* 111* May'00 Mar'00 105* Mar nn 107* J'ly'00 117 1932 J-J 01nWAMDlvlitg4i.l991 J.J StL Dlv lstooltrg 41.1990 M-N Registered ...,1990 M-N Spr A Col Dlv lit g 4s. 1940 M- 8 Val Dlv 1st g4i. 1940 J-J WW CIStL ACooni6i..l920 M-N 105 110* 110* 103 J-D 138 U-N 131 J-J 135* A-O 131* J-J 93 M-N 10S Cairo Dlv 1st gold 4i.l939 96 100 106 100* ibs' 106* Aug'00 105* J'ly'00 106* Feb '99 103 114 103 Street Hallways, See Dl Cent. Chlo St LA Pitts. See Pa Co. Chic StPMAOoon6i.. 1930 Ch St P A Mln 1st 61. .1918 Nor Wlsoonsin Ist6s..l930 101* Apr '99 109 Jo Side Bt 122 110 107 110 103 118 108* 118* . J'ly'00 98 ••••• Iftllf • ClnDAI lit gugSs... 1941 no 1171s CIStLAC. 8eeCCCA8tL 115* 119* ClnSAC. SeeCCCAStL. 115* 121* Clearfield A Man. SeeBRAP. 117 C C C A St L— 17 1993 J-D 95* 100* Geng4i 93 100 101 '06* J- J 115 1947 J102 M0J-J F-A 107 F-A M-N 100 Q-N A-O 116 A-O •114* A-O 107* A-O 106 M-N 107* M-N 120 120 123 144 117 118 120 140 120 120 .,..1911 115* Chlo AWest Mloh Ry Si.1921 Coupons off. 1921 3 ire Choc Okla A G gen g 5s. 1919 17 100* 101* Cln H A D oon • f 7i 1905 2d gold 4*1 ,1937 J'ne'00 100 105* 110 110 Refunding g 5s Lontiv N A A Ch lit 6s. 17* 117* 173 117*119* 111*111* 117*181* 116*119* Apr'00 119 , HlS 109 168 HI* Feb '00 , , 122 134*187*4 1 104 I Thloago A Brie. See Brie. Oh In A Louis— Refg 6s.l947 J-J •168 J-J M17* J-J •'10* J-J •118 •H7* J-J •118 J-J J-D 117* J-D 120 F 139 ?-• HUM 188 1*0* 10* 110* 114> . 8tPASCltylitg6i..l919 107* 111* Chic Ter Transfer g 4I..1947 117* 125 lie 122* ChAWestI lsti fg6i.. 1919 99* 10 * 109 94* Aug'00 .... • • t I 130 1P0 10 OH Pale ' .... •Mill ChtoStLANO. 100 117* 1 118* 119 114* Apr'00 137* J'ly '99 124* Aug'00 109* Aug'00 198* leS* .... .....1 »••••• 117*117*1 109* 109* M-N Chlo Rook Isl A Pao— 130* ISO* 6s 130*130* 1917 J-J 120 Aug'00 130 Registered 1917 J-J 139 106* 106* 87* 90* General gold 4i 1988 J-J 108* 107 107 Apr'00 Registered 1988 J-J 91 93* Des M A Ft D lit 4i... 1905 J-J vO ut**- 96 May'00 lit 2* 86 117 86* 86)4 120 1905 J -J 98* May' 99 Bxtenilon 4s 94 1905 J-J Keok ADesM lit Si. .1923 A-O 109* Sale 109* 109* 88* Small 1923 A-O 107 Chlo A St L See Atoh T A 8 Fe May'00 107* May'00 182* 129% 182 Aug'00 112* J'ly'00 ... 116 8 gn g 5s. 1 902 II- S Ohio A Alton sink f d (5s.. 1 90s .U-N Lou A Mo RIt :'a It ..1900 M-N Miss Blv B 1st sf« 6I..1912 A-O Ohio Bar A Q-Con 7i 1903 J-J Sinking fund 5s 1901 A-O 106 106 104 J'ne'^9 101* 101* 101* A.-Ot Lex A B 118* 117* • • • • • J -J Warm 8prVallstg5i 1941 M-8 Chlo .... US* -J -J VI-N 1992 11-8 Registered 1992 .Yi-8 Craig Valley 1st g 5s.. 1940 J -J B A A Dlv lit oon g 4s 1989 J - J 8doong4s 123 Q-Jt J 109 US Deo '99 95 102 100 J -J I J'ly'00 Ang'00 Sale 95 6engold4*i Ells 117 67 92* 93 97* Oct'99 44 44* 118 48* 13 12* It 12* '00 °* 8k J'ly 6* 83 lit pref lneome g 5s . .1945 Oct.* 8d pref Income g 5s. .1 945 Oct.! 8d pref Income g Si. . .1945 lot.* MANDly IstgSs 90 92* 90 1945 F- At 1945 M-N 1945 M-N Registered Consol gold 5s Registered 90 91 in* F-A* 'HO llg~ 120 117 118 J'ly'00 J'ly'00 . Inoomei J-D Central Ohio. A OanRR A B of Ga—Col g 5s' 37 U -N Cent of Ga 181 124* Jan.'99 OBIaFAN. SeeBCRAN. Can Branch J 109 ••«•• J'ne'00 A-O HS 117* Feb'SS A-O 116 ISO* Ang'00 118 M-N M-N 119 180* 119* Deo'98 F-A 118 103* Feb '00 Bsoan A L Sup 1st 6a. 1901 J-J 103 103 Nov'99 Iowa Midland lit 8i... 1900 A-O •103 •112 112* Apr'00 Mil A Mad lit 6i 1905 M-8 112* Apr'00 North minoti lit Si.. .1910 M-S •113 111* Apr'00 Ott C F A St P lit 5s .1909 M-8 *H3 122* J'ly'00 Winona A St Pet 2d 7i 1 907 M-N 22* 135* May'00 Ml) L8 A W 1st g 6s.. .1921 M-N 135* 124 Aug'00 Bit A Imp if g5i...l929 F-A 181* 1»7* Aug'00 Mloh Dlv lit gold 6i 1924 J-J 130 130* Apr 00 Ashland Dlv 1st g 6s 1 93 5 M-8 137* 106 Aug'00 Convertible deb 5I..1907 F-A •106 •100 e e • • I-D 106* A-O 117* A-O 117 CRIFANWlstgSs.1921 A-O 1906 OonlstAooltrg5i....l934 Registered 1934 Canada 114* Apr '97 129 184 112*115)2 . BvORANlstSi South 1st 5s... 1908 J -J ••99 108 180 117 178* 168 116* J'ly'00 May'00 May'00 120 Aug'00 140 Aug'00 1908 D 108 110 109 Aug'00 1902 J-D •109*109* 109 Aug'00 Gold7i ••• 111 111 D 92* 97* 75 94* Bklyn A M outauk. See L Isl. Brans 4 West. Ser 8av FAW BuffNYAErle. AD 1910 1908 lit I Bxten 7i 1st LaCrosse A 5s. .1919 Met S Ry BuJTRAPgengSs . . AD 5a. Bale 186* 169 172*178*) • AP W !»••• S«NTC4H. Bel A Car. See Illinois Cent.. Boonev Bridge. See M K A T. See Atfc. tit I BeeohCreek. Bway A 7th At. Bid. line* Jan. I. Latt Bale. Low. High. No. Low. High. 167* Ang'00 172* Apr'00 170* J'ne'00 .-8* Sale 188* 118* Aug'00 Terminal gold 5s 1914 J-J Ut* 110* 110* 110* 10* Gen gold 4s series A.. .1989 J-JI 105* Feb '98 1989 Q-JI Registered Gen gold 3*i series B. 1 989 J-JI *••••>. 1989 J-JI •••••• ••••• Registered ChloALSu Dlv g Si.. 1921 J-J *H6 ,.... 117* Jan. '00 94* 98* 103 100* 78* 85* 91 91* 340 100* 101 99* May'00 "95 85* 86* 79* Dec'9u Sale MononRlv 1st gug OenOhloRlitogI*sl930 M-8 •105 WVaA P lit g4s ....1990 A-O 191 Auo. 31 A Rang* Week Range or Aug. 81. Paul— MAStP— lst7s8gRD.'02 J -J 168* 1st 7s * gold RD.... 1902 J-J 168* 1903 J -J 168* lltCAM7i Chlo Mil A St P oon 7i.l 905 J-J 168* la Mid. Srefra^.Fl .& W. AlbanyABunq. S«DiH. Allegheny VaL SeePennCo. A leg. & W. See B R. & P. Am Dock A I. SieCenofNJ. 1995 Ann Arbor lit g 4s. 5s. Wbbk Ending 427 1. Price Friday, EXCHANGE Chlo Milwaukee Alabama Cent. SeeSoRy. Registered Paob (5 pages) BONOS. N. Y. STOCK Ath Low. High No. Low. High Bid. PRICES Bay State Gas— MOD* 106 T.Stk. Bzeh Bxob Lilt 180 140 1115 flu Ask. 113 • • •• I 104 186 146 118 k)l C 1 1* 4* 64* 66* 4 ! I 8UJ ok Preferred.... ., JAJ lit 0i 1933 niolld Gai (N J)— Stok JAT lit Si 1930 (Plttii.. . . Pref Kx on. 199* 300 53 50 Gas A Coke Gas L A Heat—Com. O >nsol Gai sBalt. Lll He* M die. Bid. Secnrltlee. UM .uioago incinnati Boston DnltedGas Bonds- Bosto nLi» Btilalo City Gas— Stook. 1st 5s Bonds SECURITIES, ,-. 80 06 10 80 50 60 113 Bondi Si....,, •onium Gai (J City)— Stk 108 • MAN (404 1st 8s #And interest f P* <"- 81 99 IS 89* 113* (06 109 per sh are. 1 . THE CHR0N1CLE.-B0ND 428 Del Lack * Western 7S..1907 M-8 lit 71.1914 M-N Morrli 4 1871-1901 A-O 7s..... litoonguar 7i...,..1915 J-D 1915 J-D Registered Lack 4 Wist 6s.. 1921 J-J 1923 F-A Comtructlon 5i 1923 M-N Term & lmpt if Syr Blug & N Y lit 71.1906 A-O 1900 A-O Warren 8d7i Del A litPa D1t7i.1917 M-S 1917 M-8 Registered Alb A SailitOongu7il906 A-O 1906 A-C Registered...... Guar gold 01. ....... 1906 A-O 1906 A-O Registered 1921 M-N Bens A Bar lit7i 1921 M-N Registered Del Rlv BB Bge. 8t» Pa BB. 1900 M-N gold 7s.. Den A BGr lit 1936 J. J litoongii 1936 J-J lit cong4ks ImproTementgold 5s. 1928 J-D Bio G So go. See Rio Qr So Des M A Ft D. SMCtttlf. NY H— 183% 138 W A-O A-O J-J J-J J-J 105% 136% 143 138 130 118 140 135M May'Ou Mar'OO Feb '00 Aug'98 146% May'00 143 Mai'97 121 118 122 118% 118 148 l 2i* 98 100 103 98M 93 88 108 90 85 113 4 98 100 6 3 102»4 10394 108% 104% 90% 99% Ind HI A la lit ref g 107% Int A Great Nor— 1st gold 01 101% 100 100 105 • 95 103 Ililnoli Centralist gold 4s J'ne'OO 110 110 Aug'00 107% 113 110 ••• lu-1% 105 Milt J'ly'00 183% 105% J'ne'OO 100 101 Aug'00 Mar'99 110% 119% 118% 123% It* 108 106% 78% Mar '98 72% 58 Aug'00 103% 100 89 B75 99% 104 99% 106 " 989* Sale 105 1952 A-O L NO 4 Tex gold 4s.. 1953 M-N 1953 M-N Begiitered Cairo Bridge gold 4s. 1950 J-D 1950 J-D Begiitered LoulSTllle DlT g 3%i 195-( J-J 1953 J-J Begiitered Middle DIt ree Si ....1921 V- » ; Bai 9S7^ ' 110 Securities. Bid. 105 95 • » I I » I 118 100 103 104 1935 109 Sep.'99 lltl 103% Aug'00 111 130 BB. • 10* •• HUH ..... .....I 108% 111 ••• 1 i'6% 109% Ang'00 ibok 180% 119% 1.1% i 180% Aug'00 58% May'00 11S% 118% 118 Aug'00 87 50 88 66 88 if?* iS Bt* Brie. 196' 3s 64k KeokADesM. SssOBI AP. Knoxrllle A Ohio. Bu Bo Ry. Lake!Brie A W 1st gSs.1937 VNY Leh 1st 103 •A«| •*•< 112 s i s s • * 93 97% 108% 118 11 109 104 109 135% 180 85 108 110 tttltl •••••< • •••ft S I S S SI 108 100 183% 108% 110 5C 103 105 110 ...... .,... • Mill ••••* •••II lilt. 70 55 2X* 80 104% 103 •set * •»»•• 89 89 99% 99% 98% 108% 28 103 Ask. 40 45 65 JAJ 1st 6s 1925... 108 Stook Rapids— Grand F4A 1104% 100 1st 5s 1915 51 Hartford (Ct) Gas L... 25 t 48 40 85 Hudson Co Gas ....... 103 103 5sgl949 Indiana Nat 4 111 GasM4N 01 05 lit 6s 1908 80 87 Indianapolis Gas— Stook M4N 99 100 1st 6s 1980 114 108 110 113% 113% 104% 100 101% 101 98 J'ly'00 Jan-'OO •seeee , 108H 101% 123 " MayV99 120 ..... ...IM 99 109 108% Not'99 113 J'ly'00 109% Oot.'99 ibs% 103% Not'99 sseet 98% J'iy'OO 101% Bep.'99 seat tea* 100% ii'6% 113 111% • ••••i «>••• ..... «->•••• 91% 98% ..1945 99 « • • • • • • J-D Unified g is 1949 M-8 Debenture gold 5s. ,1984 J-D 95 Bklyn 4 Mon 1st g 6s. 1911 M-& 118 1st 5s 1911 M-8 109 NYB4MBoong5s..l985 A-O 107 NY ABB lstg 5s. ...1927 M-8 108 Nor Bhb lit oon g gn 5s ..'82 Q-O 107% Gold is ,,1982 a • a a ..... s a a * •• 181% Aug'00 ee 190 • 100 105 100 95 103% May'00 9S% 93% ..... 110 107 106 100 ••• 139 its 100 Sale "im 90 3 J'ne'OO 16 97% 105 100% 85 'SSS , , , 100 J'ly'00 lltl 109 Mill i'0'2" 1 Ang'98 104 108% . 04% 70 110% 188 108% 118 110% 118% 183 * s • • • Aug'00 104%Jan.'99 98 05% 198 120k Aug'00 115k 116% 110% 113% 111 Ang'CO Gold guar os..,..,,, ,1914 108 103 04% Sale 130 110 2d gold 5s..., 1941 North Ohio 1st gn 5s.. 1945 119% L8AM8. Be* NY Cent, 110% LehYal(Pa) oollg 5s..l997 Registered 5s 1997 183% IMIti 104 h. hsi- 80 00 100 100 • 100% Aug'99 10 ANlitglitpfOs.1914 J'ne'OO these are latest bid and asked this week, Uai— tie* N Y Bxo ssex 4 Hudson Gas.... Fort Wayne (Ind) ...M 186% 185 al Deo'99 Feb '00 1*0*6* 114 117% Leh AHudR. fiesCenof NJ.. Leh A w likesb. 8m Cent N J 130% 189%' Leroy A Oaney Yai. 8** Mo P. Lex At A PF. 84$ Met StRy. Long Dook. Bm Brie, Long Island— seeet litoong 5i.,,. 1931 Q-Jl 181 litoong 4s 1981 104 110% 120 General gold is.. 1938 100 107% 111 1st gold 1982 Ferry i%s.,,, 100 M-e 98 99% Aug'b'6 113% Mar'OO 105k Aug'00 103% Apr.' 98 OUT8IDE SECURITIES Detroit 100 18S 108 5i. .1948 Registered Feb '00 Jan.'00 115 • No price Friday 130% May'00 100 . J'ly '00 Deo '98 114% 106% Begiitered • . LaAMoBlT. StsChlAAIt. Lou 1st tile A NashTUle— J-D M-N Unified g 4s... ..1940 J-J Registered 1940 J-J Ooll trust g 5s 1931 M-N Coltr 5-20 g 4s ....1903-18 A-O 1907 M-8 Ceoel Br 7s • HA Nam lstg 6s.. .1919 J-D LCin ALexg4%i...l931 M-N N OAM lstg if v., ,.1930 a -j 3d gold 8 ,...1980 J-J Pensaoola dlT gold 6s. 1980 M-8 1981 M-B BtLdlT lstg 01 1980 M-S Sdg8s Kentucky Cent g 4s. .1987 J-J LANAMAMlstg 4%l.l945 M-8 NFlaASlitgngSs ..1937 F-A Pern 4 AUlitgug 61.1921 F-A 84 N Aeon gugSi.... 1936 F-A einkfd(B4NA)g6s..l910 A-O L 4 Jeff Bge Oo gug4s.l945 M-8 LNAAC. SssOIAL. MahonCoal. SmLS4M8. anhattan By oon 4s. 1990 A-O 1990 A-O Begiitered MetropolBl lit g6i... 1908 J-J Man BWOolonlsg5s..l934 J-D General gold 0s ....... 1980 Sold 5i, ...... ,,,,,, ...1937 105 104 98 a teat ibo" ios% t 110 110 117 118 11 1 e a 99 at Bale 111 99 I Ask 99% Laclede Gas— N Y Stook Bxoh. Lafayette (Ind) Gai 40 1st 0s 1924 M4N 61 Loganspt 4 Wab Yal— 1st 0s 1925 J4D 60 Madison (Wis) Gas— Stok 70 1st 0s 1920 A40 {101 Newark Gas 0s 1914 1189 Newark Comol Gas ..100 60 5s 1948 J4D 1109 103k New Bug Gas 4 0— See Bo •tonL 1st. ..., Aug'00 teas 99k 62 NOY'97 106 113% 113% Aug'00 103 106 116 138 1 »69d 101), a '98 J'ly '00 187 117 115 109 105 105 iii%OT Jan iimm 103 112 137 110^ 100% 109% 96% 100 98% Aug'00 105 117 138% 60 •(••• 90% 109 •109% 110% 105 103 ... ... ... 95 127 187 00 97 Deo '99 • t hi lit in 193 187 109% Not'99 Aug'00 95% 98 107% Jan.'OO 109% J'ly '00 110% J'ly '00 107% Aug'00 107% "ZM UOfi 109 » * » I *a*i 110* 113% 107 HI 99 106 90%Oct.'99 101% Sale 101% 10194 114% '.','.','. 114% J'iy'*b'6 J'ly'00 a a a • 86% 34 J-J J'lyl J'lyl An.l J-D J-D sees* 78 25% Bale 26% 18 A-n A-O M-8 J-D M-8* TO iia" iii Aug'00 13 8f% 85% 108% Apr'OC tsssii s i s • • •ssses setae* *«t tee nee *••••! IMIII 18% 105 70 81 30% 89% 10 15 I?!* i« 81 20 J'ly'00 81 19 May'00 106 Apr'00 81 17 106% ••• a s t a a s N 4 Mad. 8»* Ohio 4 N W 4 North. 8««OhM48tP 4 Bt P. Sm Oh M 4 St P Mid Of J. Be* Brie. HL84W. SMOhlo4NW Mil Mil Mil tDueApru. I Due January. 1 Due October . (Given at foot of 7 oonseoutivb pages).— GAS, TEL. Bid. May'00 May'00 109% Aug'00 98% 100 sfsB'pt4BV. S«#PM0K4T Metropolitan HI. Sm Man By. gold 4s... 1911 lsteonlnoome g 8s... 1989 Id oon Income g 8i..,,1939 i»17 Nanlp4eollg 5s 2d seiies g 5s .,,,,,1919 Hsx lnternat 1st oon g «s.'77 1987 tfex Nat lit gold 0s 3d Ino 01 A Op itmpd. 1917 gold B..1917 6i lnoome Id Mix North 1st gold 6s. .1910 1910 Registered Mloh Cent. Be* N Y Cent Bonds due August. 6ss Keen r Ul«s. Kansas City Gas 100 5s 1932 A40 Aug'00 Jan.'99 117% Aug'00 • e 108 . Mex Cent con 3*1 . W gu g 4%s. 1940 Registered 187" 148" 1940 Leh V Ter By lstgn g 5(1941 Registered ..,,... 1941 97 37% 93 L Y Coal Co 1st gn g 6s, 1 988 Registered..... 1983 07 75k Leh A N Y 1st gn g 4s. ..1945 ••••• 105 J-J J-J A-O ,.1951 J-J 1951 J -J Registered 1 it gold 3s sterling . . . , 1 9 5 M-8 1951 M-8 Begiitered 1952 A-O CoUTrnst gold 4s 125 Registered 1950 114% Kansas Mid. 8*4 St L A 8 t Kentucky Cent. SssLAN. 114* • 72 50 1951 J -J 1951 J -J Registered lit gold 114 ....M 119% 181 Aug'00 not'98 181 90 , ioo A Mloh. B** Tol 4 O C. MBAB 1st gag 5s. 1939 A-O Ban O A Pao. 8** M K A J'ne'OO J'ly'00 100 A-O 128 M-N 105% A-O 108 J-J 100 J-J Illltt J-J A-O W 111 J'iy'OO an 78% 82% KCA 107 110 VGA AH 113% KalAAGB, &ML84MB. 93% Feb.'99 1st pf g 5s.l945 1945 J-Jl 1st oonsol g 5s Ga Oar A No 1st gu g Ss.1929 J -J 1999 Begiitered V litextg 41.1948 Col T. See So Pac Houst H 4 Horn A TexCen. 8** So P Co. US 1951 guar g 5s Jefferson 1 e e • 59 118 HAH of '82 1st Ss.1913 A-O 8W NYNHAH 99% 108" '< W W Han Registered. 93% 60 ... 8tL8oulitgug4i...l931 Ind Deo A 1st g 5s. ..1985 Kan C So lstg Ft S A V B Bge. 8m StLASF. Fort St V D Co 1st g 4%sl 941 J -J Ft A D C— 1st g 4-01.1921 J-D Ft A Bio Gr 1st g S-4s.l928 J-J Gal Har 4.8 A. SmBPCo, Georgia Paoino. Bm So By. Nor. Bee Bo Pao Co. Gila Gouv & Oiw. See N Y Cen*. Grand Bap A Ind. Bm Pa Co Gray'i Pt Term See St L A St J. SfeOBAQ onsatonlo. 8*4 Hook Yal 1st oon g 4%i.l999 Low. High 90% Aug'00 eeeeti 134 1919 3d gold 5s. 1909 8d gold 4s. 1921 Iowa Central lstgoldSs.1938 108% 109k Iowa Midland. 8** Ch 4 N W. 14 s al Begiitered . Mill L 100 . Ga A Ala By • 1951 1951 1029* 1 let ooniol gold 5s.. ..1989 Pt Huron D1t 1st g 5s. 1989 Fla Gen A Pen 1st g 5s. .1918 1st land gr ext gold 5sl980 1948 Comol gold 5s iinee /an, Aik. Low. High. ,,..,1951 98 100 . . 1938 CoBr'ch 1st g 5s.. 1930 By&Indlit eon gu g 6i.. 1926 Fargo A Bo. Sm Oh MA St P.. Flint A Pere M g 0S....198O Latt Bale. 111% Mem Dlr lstg is.,,. 1951 lit . . Bull Registered i'3'6% Gold 8%s , lit general gold 5s.. ..1942 Aug. 31. Rang§ Week'i ibo" ibi'% 100% 100% 101% OOV99 95 Dee '99 BelleTACarlst0s....l938 1982 4s ChioStLAN Og5i..l951 102% 82 109 Range or 90% CarbASlstg 113% 115 112% 113k 147k 1489< 148% 148% 117% J'ly'00 M-8 183 119% Jan.'00 M-8 117% Sdextgoid 4%i 110% J'neOO A-O 133% 4th ext gold 5 183% Mar'OO ,.1928 J-D •10«H 5th ext gold 4s 100% Apr'99 1920 M-8 138 1st oonsol gold 7s 189% Aug'00 lit comol gold fa 7i.. 1920 M-8 143 Deo '98 88 % Sale Brie litoong 4i pr bds.1996 J-J 8?% 87% 1996 J-J Registered 98% May'ttM 09 lit eon genlleng is.. ..1996 J-J 09» 09 Aug'00 ...1996 J-J Registered Buff NY AHrte lit 71.1916 J-D 181 140 Feb '99 Bnff A 8 W gold 6i. .1908 J-J J-J 1908 Bmall Cblo A Brie 1 it g Ss. 1982 M-N 110 110% Aug'00 Jeff BB 1st gu gold 5s. 1909 A-OJ •IO514 100 Deo '99 Long Dook oon gold 6s. 1935 A-O '188 30% J'ne'OO Coal 4 BR 1st o gu 0S.1922 M-N our6s.l91S 110 Imp 1st J-J Dock 4 N T 4GreenLgug 51.1946 M-N • 113 109 Oct-'98 1946 M-N teeee esses Small Mid BBofNJ lit g 0s. 1910 A-O 119 119 Aug'00 N Y S 4 W— 1st ref 5s.l937 J -J 108 10S% 108* 1937 F-A 2dg0ld4%l 99% J'ne'OO ...1940 F-A General g 5s. 95 90% 96 96 Terminal lit g 5s.... 1943 M-N 113 118 Apr'00 Begli $5,000 each, 1943 M-N Wllk4BaslStgu g5sl942 J-D 105 106% 105% 105k 8rle 4 Pitts. See Pa Co Eican4L8up. SssOANW. Bureka Springs 1st g 0s. 1983 95 Not'97 1931 188% By* TH lit con 0i 138% Aug'00 Mt Vernon 1st Gold 3%s 118% 118% 113k 148* J'ly'00 148% J'ly'00 108% May'00 1919 1933 1920 5i. iis" J'ne'00 J'ne'99 J'ne'00 , Price Friday, Bid. 1951 1951 1951 1951 Registered Spring DIt lstg 3%s.l95i Registered 1951 Western Line 1st g 4s.l951 Registered 1951 140% 148 [y0L lxii. 2. Cen. (Con) Registered 130 100 183 133 EXCHANGE 8t Lonls DIt g 3r 137% 105 105 183 108 119 118 m Oex.'9b 135H Pag* Week Ending Ado. 31. 143 133 119 (5 pagea) BONDS. N.Y. STOCK 104% 107% 188 141% 119 103 180 108 144 . 2d ext gold 1. 134% 133 180 134M Aug'00 105% Aug'00 138% Aug'00 189 A H lit g 5i. .1941 M-N 110% B1U Lex A B 8. SesOAO. ElmCortANo. SseLehANY. 1947 M-N 116% Brielitextg4 Elgin Jol Jan. 184* 140 . . J-D J-D since Latt Bale. DesMAMlnn. SwChANW, Des M Un By lit g 5i. 1917 M-K 100 1995 Gold 4 Dul A Iron Bange lit 51.1937 1937 Begiitered 1916 9d0l 1928 Dnl Bed A S lit g Si. Dal So Shore A At g 5i. 1937 East of Minn. 8tt 8tPM4M. astTVaAGa. Sss.SoBy. or A$k. Low. High. No. Low. High Bid. Imz Range PRICES Range Week'i Price Friday, Aug. 31. BONDS. N.T. STOCK EXCHANGE Week ehdikg Aug. 31 DetMATol. SmLSAMBo. Det 4 Mack litUeng 4s.l995 . . Gae Beenrlties. Ohio 4 Ind Con Nat * 111 - Ask. 88 38 58 Ohlo&Ind— 1st 0s '20J4D 64 Peoples Gas 4 Coke— N Y Stook Bxoh Philadelphia Co— 8m Bos ton L 1st. ProTldence Gas. 50 t 94k 80 sik St Joseph (Mo) 98 J4J ( 90 5s 1937 40 59 S: Paul Gas—Stook 88 Oonsol 5i 1944.... M48 { 80 14 Syracuse Gas— Stook Bid. . J4J 1st 5sl946 Western Gas (Mllw) Is— BM N Y Bt Bx list. 88 90 93 95 I Due a Optional July, & 1ELEPH., do Bid. Teles. oV Teleph. Teles?, dc Telepn. American Dlst Tele— NY Stork Bell Teleph. of Buffalo... ll»k .....i 100 Central 4 South Amar.... 108 65 Caes 4 Poto Teleph— Stk J4J 103 104 5s 1909-29 170 106 Commercial Cable C)mmw Onion Tel (NY). 110 115 75 •>*«•• B nplre 4 Bay SUte Tel Brie Teleg 4 Telep— See 8 tokBx iast 48 48 Franklin {And Interest. tPrtor per sb ae, . J8 . Sept. . THE CHRONICLE —BOND 1900.] 1, . Range Price Wcek'i BONDS. Friday, Range or E T.T. BTOOK EXOHANG Aug. 31. Last Sale. Week JExdihq Aug. 31. Bid. A$k, Low. High. 149 May'00 M'uu A St L— lit g 7l .1927 J-D 144 132* May'00 Iowa ex lit gold 7i... 1909 J-D *123 132* Aug'00 Booth Wait ex lit a 7i.'10 J-D 127 138 May'00 Paciflo ex lit gold 6i 1931 A-0 128* 1984 M-N 114 U4% 114* lit oom gold Si . . and refund. 4i.... 1949 Mln A8t L«a. S«BOR4N lit M-S M A P lit 5i it 4i Hit ga..'36 M 8SMAA lit g 4i lnt gu.'26 M 8t P48SM oong 4i lntga'38 Minn On. SmSIPMAM. Mo Kan A Tex— lltg 41.1990 .,,,,, ,,,,,, •••• ..,,,, ,,,,, •••••• •••••• J-D 92* Sale 6696 Bale 90* Sale 1990 F-A! 2d gold4i 1944 M-N lit exten gold 5i. Bo sneT Bdc Oo gn g 7i 06 M-N Dal a Wa lit gn g 3i. 1940 M-N . . MBATofTlitgug5l.'42 M- S Mo K A 9 lit gag Mo Pao— !d7l oong 1st 5I...1943 1906 1920 M-N 1917 M-Bt 1917 M-8t 1920 F-A 1920 F-A 6 Trnatg Si Reentered lit «oll gc'd 5l Reentered Leror A O V A L lit g 5l *26 JPao Bof Mo litexg4i.'38 F-A 2d extended gold 5i .1938 J-J 8t Lonli A Iron Mount— 98 80 108 1945 1945 1st gSs. 1946 Mortgage gold 4i Mob Jack&KC Mob A Onto new gold 9894 76 88 102 112 106 90 1 109* 94 J'ne'00 10594 Jan.'OO •••••• 112* Apr '00 lit7i.'13 1901 1st eon gold 5i 1928 lit gold6i Jaiper Boh.1923 lit 6i 1917 MOMMW4A1. litBiTAPb 1917 Naih Flor 4 Shef SmLAN NewHAD. SmNYNH4H NJJunoRR. See NY Cent. 112 10 J'ne'00 79 79* 1 14 • • • • • • • » • » •109 110* J'ly'00 J-D a0 • 125 Aus'00 126 120* 85* 87 ft Debenture 5iof. 1884-1904 Reglitered.... 1884-1904 Beg deb 6i of... 1889-1904 Debenture g4i.. 1890-1905 Reglitered 1890-1905 Debtoertiextg 4I....1905 Reglitered 1905 Lake Shore ool g 3*1.1998 Reglitered 1998 Mica Cent ocll g 3*i..l998 Reglitered..., 1998 Beech Ork lit go g 4i. 1986 Reglitered 1936 Sdgugold 5 1936 Reglitered 1936 CartAAd lit gu g4i. 1981 Clearfield Bltom Coal Corp litsflntgug4iierA.'40 Small bondnerleiB.. '40 J-J J-J A-0 J -J J-J J-J M- S M- S 128* Aug'00 100* J'ly'00 105* J'ne'00 118 Deo'99 <••••• • ••I i • i • HI t 26 *••••! 108* 110 J'ly '00 110 110 108 110 108 107* Aug'00 109* 8ep.'97 101% J'ne'00 ...... • 102* •••••• •••••• •••••• • »•«»! •••ft 105 » » i * r • I •••••• • ft ft ft • 1"« J-J 111* J-D 112* J-D J-D 109 105J4 IMtlt 11194 Sale 94 • •102* •••••ft 117 •••••• *•*••• 127 139 131 1 • ft « ft ft • ft ft 107* J'ly'00 102 Feb '00 ...... ...... 108' • • t • •••••• •••••• •»•••• • • • • • » ••• Aug'00 May'00 Deo'99 Jan.'00 Jan.'98 ••••• HSU May'00 188" J*iy V99 126* Aug'00 Apr'99 ••tee 107 Aug'98 Reglitered otf !04*Oot.'97 Aug'00 Aug'00 Apr'00 18594 101 ..,.?, 191 189 138 114 113 10694 Bid. 118 90 118 116 315 Boito on list 183 160 110 75 96 96 • ft ft ft ft ft ft ft ft ft < -M -J Si.. ,,,...1937 A-0 ilft-i'lT 106* 106* 101*Not'98 19 10s *• ft • • • ft • Aug'00 183 117* Aug'98 97* 97% 38 9796 J'ly '00 • ft ft ft !•••• • MM* 10694 107* 103 102 •••••• •••••• ••••• • ••Ml •••• • •••• • no* • •M|i 121 litg 4*1.1921 1921 Gtd3*iooltruitreg.l937 C 8tL 4 P lit oon g Si. 1932 Reglitered 1932 OerAPlttioonif 71.1900 J-J M-S A-O A-O M-N Gengug4*iier'iA.1942 J-J BerleiB 1943 A-O • Feb 101 101 1948 J-D Sale' *••••• • »••••• 88* 90 95 10496 179 11 10394 9 65* » • • • • • • • • ft ft ft I • ft ft ft ft ft 106* 10994 10294 10494 88ft 113 113 130 J'ly'00 Aug'00 Apr'00 109 90 60 110 75 110 95 75 109 109* 108 Aug'00 104* 110 106 .... 103* May'00 116 116* 116* 13 111* 116* 111* Jan.'00 alO 111*1113 90 50 115 101 Not'98 103 181 119 102 96 7? 121 J'ly'00 121 103* Mar'00 117* Feb '00 103 "••••• •••«•• ••••ft •••••• •••«•• •••••• 101* May'00 101*101* •••• ••••• ••* •••••• ••••• •••••! ••••• •••••« 117% 117 117 113 109 101 119 119 108* 117* 1178 104* !•••• Sale 117 107 99 139 185 133 110 •••••• • ft ft • • • 131 108 • ••• ••••• •••••• • •MM •••••• *••«• -•<•», 117 108* 110 104 *110 105 •••••• 116 132 *185 10 114 11796 Aug'00 Noy'98 Aor'00 • • • • ft ft ft •• • • • • • ft • • • «••• *••• •••••• » ft ft • • • • •• • • •• e •••••• ••*••• U3M Aug'00 Mar'00 >•••• •••••• • • HI ••• •••••« 181 J'ly'00 • • 106* 109 100 101% 135 139* 185* 136 May'97 • 11796 113% 117 • 101% J'ly '00 139* May'00 135* 135* 108* 110 116 • ••••• •••••ft • • • •••• ••«• •••• •••• •••• •••• 108 109 184 • •MM •••••I •••••• •••II •••••I •••••« 111 U2M *••• •••••« • •••• •••••« • at 103 Not' 97 117 May'00 33 Jan-'OO 93 tS 180 98 187 130 130 98 13094 98 117 J'ne'00 117 Not'97 107* OoL'98 181 Nof'98 : •••Mi '.tti Bh 98 115 90 J'ne'99 • 100 100 119 113*116* 116* J'ly'00 8794 Jan.'OO 100 J'ly '00 9996 101 99* 101* ,.,,, 100* 100* 8796 Sale 87* 87% 174 8794 8794 1 9896 9896 28 88 8794 •OK 87M ft t Tele»h. Utah Cent •••••• ••••• Due Jan. Due July. * 7 Bid. Aik. Phila list. Stook Bxoh 165 170 46 41 Coniol Electric Storage. 80 18 Bddy Eleotxlo Mfg Co.. 25 t 9 14 Edison El 111 Co N Y Stook Bxoh Edlion Bl 111 Oo Brk— N Y Stook Bxoh Bdlion Ore Milling Co.... 11 9 NY— Electro- Pneumatio Trans Wayne Blec Oo. .85 Serlei A......,,.,, 113 8894 . McKeei&Y. See N YCen WttlPAFlit gSl 1916 J-J I It* Allegheny Co Light Co.. Bruih Bleotrto Co....... •• 66* 68 131* 182* Pitts 128 (Given at foot of dte 105)2 65 97* 100* • ••ft • 101 113 • • 10S 118 W J ft ft ft ft B7J6 108* 105* 109 113 100* Aug'00 8894 May'00 ft ft 90* 99W J'ly '99 Feb '99 132 130 113 Oler ATol litg6i.,1922 A-O •118 4 Oh. SMPennOo. fitti Juno lit g 6i 1922 J-J •118 •IttiA L Brie— 2dgSl .1928 A-Ot Pltti A L B lit u Si. .1940 A-O litooniolgold Si 105 10S 1943 J-J lttiAWeit lit g4i... 1917 J-J ••••• ••••' J P M 4 Oo oertfi lisii ii5J6 •ltti Y 4 Aihlitoon5il927. M-N ••••• •••••• Reading Oo gen g 4i. .. 1 997 J -J Reglitered 1997 J-J ••• .•••• •»•••• 126 129* iensielaer A Bar. Sm D A H, Kleh Dan. A •••••• Sm •••••• South Ry. MM •••••a ••••• »lo Gr West 1st g 4i. 1939 J-J ft 133 9796 101 65* 66* May'00 131* May'00 FeoABut. SmOOOA BtL ,vJOAPekUnlitg6i...l92l Q-F 130 3dg4*l Feb., 1931 M-N 101 PlttiFt • ft 114* 183* '97 "es* POCAStL. SMPennOo. •••• ••*•• 128 4 Cable— See Weit'n Union Teleg— N Y Electric Companies Fort M-N J-J J-J J-J A-O A-0 Beriei Oguar 1943 M-N Serlei D 4i guar 1945 M-N Series B guar 3*s ..1949 F-A PlttiFt W A O lit7i. 191 J-J 3d7i 1913 J-J M'l 1912 A-O* P *nn RR lit real eig 41.1923 M-N Ooniterllngg 61 1906 J-J Oon ourrenoy 6i reg.. .1905 Q-M Oong Si 1919 M-S Beglitered 1919 S Oongii 1943 Ml N it RAI ex lit gug4*i.l941 J-J 9}££?L l?* »? » *><ft.l935 M-N DBRRABgelltguiig.'36 F-A AU«gh Valgengug4i.l943 M-8 SunALewUlitg4i..l936 J-J UNJRRAOan gen 41.1944 M-S ••maooiaAAt. SMLANaah Peirla Dec & Evansv— 2d g Si tr reo lit pd... .1938 M-N C 3*g ine Creek reg guar6i.. 1932 12994 12994 MttiOlnAStL. Sm PennOo. 119*121 ft 110 139 180 101 •••••• ...... .,,,.. J-J He* II ••••ft ••••• 180 118 336 100 «••• 9* Teleg Telep 187 165 118 100 • 11 Ask. 118 nllit. I • • • * 110* ft 189* 138 J'ly '99 114* J'ne'00 133* Aug'00 Sale 185 183 Jan.'OO IO894 10894 F-A 193 A-O 113 J-D •100* . . . Teleg. High 104* 108* 103* 105 May'00 10496 Sale F^ 138 1923 Q-F 125 , ft •••••• 118 OUT8IPE 8ECURITIE8 HUH •••«•• •••••• •••«• ••••« 112* 111* 118* no* Mar'00 108* Deo '97 U9* J'ne'00 128 127 108 108 • * » ..,,«, /.:: ,«*,,, 105* J'ly'00 10396 Aug'00 •tie* • • • • • 110* ••• ii 110 116* 10 110 114 118* 6 111* 116* 11194 J'ly -00 • • 111* 11496 110 Aug'00 • • • • 109* Hl?6 HI* ••••• •••••• 120 125 108 1 • ••••• •••••• •••••• 121 •••••• •••••« 97 94 108 J'ly '98 129J4 Apr'00 •••••• III* • l 80 9S 98 96* 98 i . 96* 99 3 20 •No prloe Friday theie are lateit bid and aikedthli week, ProYldenoe Telephone. Southern 4 Atlantic SnOhlANW. M-N M-N 183 A-0 126* F-A 183 A-O 97* A-O A-O J-J 106 M-N 100 rle APlttgug 8*1 B.1940 Serlei O 1940 N A CBdgegengug 4*i.'4S POOAStLeoagag 4*»BeriuA. 1940 Serlei B guar 1943 10896 ib'i" 10396 ft M-N 107 M-N 10?^, M-S 1*0* M- 120* Q-M 1 ••1990 M4N PMlfleA Atlantic..7.." 106 m 4StLlltg4i 1901 J-J Ore A Oal. Sm 80 Pao Co. 129 Ore Ry Nav 4 See Dn Pao 100* 107* Ore RR A Nav See Un Pao Ore Short Line See On Pao Oiwego A Roma. Sm N Y C OOTAStP. SllOANW PaoOoaitCo— lit gSi.1946 J-D acof Mliiourl. Be* Mo Pao Panama litif g 4*i....l917 A-O Sfiubildyg6i...,,,,,1910 M-N J'ly '00 • 112* 111% ••••it ••III! '••••* • Mexican Telephone— Sm New Bng Telep— Sm Boit North weitern Telegraph. M Y A N J Telephone. .. Y4N Blitgug4l.l989 Serlei ioi% 104J4 Feb.'99 10296 Aug'00 • 90 J-J gug Si.. 1915 F-AI .... M-SII Reglitered 10796 10796 107*$ J -J £** OT B, 1,t « 11 * 5, 18 M-N UUea*A Blk. Blrgn g 4i.'23 J - j Hudson Rlrer Telephone Lov>. 1. NorWli. SnOStPMAO. Nor 4 Mont. Sm N.Y.Oent. 10894 113 108* 111 108 111* 110 110 10294 108 10596 107% • • • NY Internatlon Ocean..., Mexican Telegraph. gug 61.. ..1922 Bt Paul A Dul lit Si.. .1931 2d 61 1917 lit cog 4s 1968 Wash Cent lit g 4i ... 1948 ftftftftftl •••• •••••* Deo'99 •• Reglitered BatC A Bt lit gug Si. '89 J-D A Harlem g 3*i 2000 M-N Reglitered 2000 M-N N YANorth litg 5i.. 1927 A-O R AOgoon litext 5i.'22 A-O* Bondi....... 130 115 114 110 190 8tPANPgeng6i...l923 138 120 100* 104* 10894 Aug'00 1931 1940 J -J 1940 J -j «old48took OOATli 1996 1996 PennOo— Gu 109 • Id guar 6l 1934 MoKMAB Vlitg6i.'18 J-J J-J Ac Tele*>k. W Reglitered Small 110*110* • FlttlMoKAY— lltgu6l.'82 J-J ..1931 A-0 M-N M-N J-J J-J 'orthOhlo. SeiLBrleAW. 110 11094 Northern Paotflo— Prior lien r A 1 g g 4i. . 1997 Q-J 7794 84* Reglitered 1997 Q.J ••I *•••«« Generalllen g 3i 8047 Q-Ft •••ft •••••• Reglitered ...2047 • F-A 9694...-- 96* 96* F-A 94* 96* 95 95 F-A •*•• 96 Aug'00 F-A 94 95 95 Auc'00 J-J 109 106* Aug'00 J-J 109 ««•••• 106 J'ne'88 J-J •••I* IIMH •••• •• J-J •••••• iiimi ••• ••••• J-D •••••• •••••* •• •••••• J-D OlnASlitgL8AM87i'01 A-0 Det Mon A Tol lit 7|1906 F- A K A A G R lit g o 51.1938 J-J MahonO'lRR lit 51.1934 J-J *•!•. ImprrmtAext g6i...l934 N A Ry litoong 41.1996 120* 126 Nor Pao Ter Oo lit g 6i.l933 83 87 106* 109* Nor Ry Oal. Be$ 80. Pao. 86 86* 106* Aug'00 127 100 106 109 M-S J -D 102* J-D 102* M-N 10294 M-N 10894 NYAPntlit0ongug4i.'93 A-O Nor A Mont lit gn g Si. '16 A- O West Shore lit lign.2361 J-J Mloh Gent— lit oon 7il902 lit oon Si 1902 6l 1909 108 5,000 only... 1992 M-Sl General gold F-A 1986 F-A 8361 Lake Shore oon 2d 7i. 1903 Reglitered... 1903 Gold 3*1 .,,..1997 Reglitered 1997 Jem. Bale. IndAW. BiiOOOAStL. lit ti .1986 Reglitered Last Ask Low. High. ^06% 10614 10694 Oihlo RlrerRR lit g Si 1936 J-D 110 Gout AOiwelitgug5i.'42 J-D 116 Moh 4 Mai lit gu gfi.1991 M- 8 106 W 0swe4R2d Begli NY A Put.f ft»NT04E MYARB. fill Long III. NY8AW. BuBrle. MY Tex AM. See 80 Pao Co ft ft • • • 120* J'ly'00 10694 109 90 94 Range tint 109* 113* ••••• Bkln A Man Bh. 3n L I. N YOentAHB lit 7i., 1903 J-J 10894 Reglitered 1903 J-J IO894 G8*s ,.1997 J-J 109* Reglitered...... 1997 J-J 109 4s N Y A North. 8u N Y O A 13. S Y O A W. Ref lit g 4H992 Solo NY Reglitered NH 112*113 NewAOlnBdge. SsiPennOc N04NBprlorlleng6i.l915 A-OI OS . 94 . Beglitered Oonrert deb oerti |i,000 Small oertliSlOO Houiatonlo R oon g Si. 1 937 A Derby oon Si... 1918 NY AN Blit 7 1905 lit 6| 1905 10594 10694 80 111* A-O A-O Range or >7ee*'« Aug. 3i. SmDLAW MYLBAW. SMBrle. NYANB. SmNYNHAH S YNH A Hart litres 4i. '03 J-D 102* 103* 9896 92 .T-.I LA Mohawk 4 M al. 8iiNYC4H Monongahela Blr. See B A O Mont Cent. 8u 8t P M A M. Morgan'! La A T. S«8FCo. Morrli 4 Buex. Sm Del L4W NJJunoRgu YAHar. BuNYOAHud. • ft 91 » • i S 116* <or 4 South lit g Si. ...1941 U494 121* Norf A Weit— Gen g 61.1931 43 New Rlrer lit g 61.. ..1938 94 101% 98* * i » J-J 6s..'27 J -U 1st extension gold 61.1927 -J* General gold 4s 1938 -s MontgomDlT lit g 51.1947 F-A Cairo gug 4i..l931 J -J St 8d6i 92* 105 Y lorthllllnoli. MobABlrm prlorlteng5i.'45 J-J NashOhatAStL 95^6 Aug'00 Aug'00 91 Genoonry41dgrtg5i'31 A-0 111*112 Genoonitampgtdg5i'31 A-O "78* Sale 1929 TUnif 4ref g4i Registered 1929 T.'26 Verd v 14 W litgBi M-d MluRlrBdge. S»«Chlo4Alt Small 89 "93* • 93 Price Friday, Bid. Chic A St L litg 41.1937 Reglit«red 1937 V Y 4 Greenw Lake. 8tt Brie i 88* 93% 65 70* 92* 98 92* 999| •• 117* Aug'00 9094 123* 123* "8*8" 11896 Aug'00 Sale 128 7 29 43 103 106 128 101 *••• 92* 117 98* 98* 66* 92 100% Nov'99 94 Deo'99 91* J-D F-A 81* J-D 105 A-0 104 M-M 114 High •••••• •••••< •••fa* ••**« *••••• •••••« •! 9096 89 Low, 143* 122* 122* 93 ...... •••••• * * I • 1. 429 3. Ul*116* JYLaok4W. 97* 92 66 >••••• ' 8her8hA8oulitgugSi.*48 K O A Pao litg 4o.... 1990 Tebo 4 Neoiho lit 71.1903 97* 9694 Page (5 pages) BONDS. N. Y. 8TOCK EXCHANGE Week Ebdjxq ado. 31. tince Jan. PRICES 2. 8* 86 396 48 I 1st gu g 41.1917 A-Ot Due June. I 98 .... 88* 88% 88* Aug'00 Due May. 1Du«Nor FERRY Companies. Bid. Ast Ferry Co-' »a»>lee. General Bleotrlo Oo—N Y Stook Bxoh ferry Uampanlei. Do pref.— Sm Boiton L lit. Brooklyn Ferry-Stook .. Hartford (Ct) BleoLt Co. 165 Bondi 5i—See Stock Bx •••••« Mo Bdlion Bleotrlo 19 Metropolitan Ferry— 5i.. 17 Do preferred. 58 N Y 4 N J Fern— Stock.. 52 JAJ Narragan. (ProT)B10o.50 t 93 lit Si 1946 •••••: Rhode Island Bleo Pro Co. 119 N Y A B B Ferry-Stook. United Electrio of N J. 19 Bond! 5l Of 1933.MAN 16 4s 1929 73 HDboken—Stook 70 United Bleo Lt AP Co prei SwBal to lilt lit Sft 4*4 1929— Sm Balto 11 St. Con. ba. .......,«,.".»•• Woomooket (R I) Bl Co.. lAntt tntereit. tPrloe . 85 8891 a Theie are option laUo. consecutive pages).— TEL. y BLEG., Electric 94* 100* dc A 8 THE CHRONICLE -BOND 430 T.Y.BTOCK EXCHANGE 1! 58 ElfDINO AUG. 31. J-D Bio Or Juno lit gu g 51.1989 19<° Bio Or 8o lit * 4 Range or Aug. 31. La$t Sale. Bid. 77 J-J J-J 1940 Guaranteed Wcek't Price Friday, BONDS. WBBK 80 78 105 6 Bt L 84* 84* 84 11 112% 112% 112% 113% 112% 112% 112% Sale 122 108* 109 103 6 S 121% Aug'00 108% m% » • » • 4 Apr'00 104 ••• • 90 106 1 93 105 .... ..., 90% 62* BtP A Nor Pao. Bale Bale BavF A J-J 135* J-J J-J 118% J-J M-N 119 121 104 J'ly'00 Oot.'97 208 91 31% 62% 217 J -J 120 108 Bale A Oal litgtdg 5i.l927 J-J BAAAPanlitgug4i.'43 J-J 1905-87 J -J 98* 76* 1 1 1 108% 108% A-O 110 A-O uo* A-O 112 A-O M-N M-N 106* J-J 115% BPaoof N Mez lit g6i.'ll iPOoait lit gug4i.. 1937 J-J 80 Tax A N O llt7l 1905 F-A M0G BablnediT lit g6i.. 1912 Oon gSi 1943 Bouthern— lit oon g 5i 1994 , Beglitered 1994 Mem D1t litg 4-4%-5il996 Beglitered 1996 Ala Cen R litg 6I....1918 Atl A Tad litg gn 41.1949 ColAGreenT 128 181 J'ly'00 129* 134% 116 117 Apr'97 Aug'00 117 ISO Apr '99 186* J'ne'00 Jan.'00 123 Deo'99 lit B-fli.l91H A-O J -J May'00 Oa Pao Br lit s 6i. ... 1922 J -J Knox A Ohio lit g 8i 1925 J-J Bloh A Dan oon g 8i. .1915 J -J . quip link lundgSi. 1909 M-8 e • ••••• 78% 89 78 Friday 1 lateat bid ferry Oom»tmie». A 23d Bid. 8U Ferry .... 120 32 58 95 29 122 110 and aaked All Mlecellnneona. Aoker.Mer A Con 8i 1903 iro 102 Amalg. Copper— See Boit on Lie t »» Amer Bank Note Co... 60 Amer Bloyole—Com. Preferred. Bondi Si MAB l t ItOD Lilt 48 61 6 6H 88 84 78 80 J'ly'00 Jan.'OO i0fl% 116 Aug'00 116 111 Aug'OO Aug'OO 105 100 al 65Vt 1 58 106 105 95 114* 55 111 65 118 114 113* Aug'OO 112 101 99% Aug'OO 99* 65* 112 89 82 ' ' J'ly '00 90 82 UO* Hi 84* J'ne'00 Aug'OO 78 110 J'ne'00 l 1947 J-J 106% J'ne'00 110 Aug'OO J-J 109 J-D 102* 102% 102* 102* F-A 126 •••••• 126% 126* J-J 112* 118 112* Aug'OO Ore BB ANav oon g 41.1946 OreShortLlne litg 6il92» Ore 8b L— lit oon g Si. 1946 Non-oum lno A Si... 1948 Sep.* 104 Utah A Nor lit 7i 1908 J -J •115 Gold Si 1926 J-J 118 106 121 102 Un N J BB AC Co. See Pa R b Bu Rio G W Utah A North. Bet Un Pao. UtloaABlaokB. 8m NT Oent Y/erVallndAW. See Mo P. ' IrglniaMld. 8m Booth By. 69 118 108* 90 84 130* 10? 106% 103* 106* 110 110 100* 104% 125* 110 110* 115* J'ne'00 106 Mar'99 May'97 ••••II •••••• 106 Central. 117% 101 SmBAO. 85% Wheel Dlv A lit gold 5a. 1928 Imp gold 5i. . 1980 32* 33* 109% Aug'OO 91 Apr '00 SO lstcon 4s .1949 99% 97% 100% WilkeiABait. 8m Erie Sioux F. Wll Bee BtP MAM A 99% 99% 81 86* Winona A BtP. SeeOANW J-J A-O J-J K- * M-S 113 112 106 106 117% 101% 98* J'ne'00 110 107 111 May'00 119% 9t% 32* J'ly '00 113 Jan.'99 • BOB 106 88 118* 104 94* 41* 118 98* 91 109*118 • 1 * 32 105 98* I 3C 114 118 83 44 80 108 • • • 9»% 108* 88% 87* 87 11 56 • • • • 119* 118% 108* 10 110 180 68* ee* 22* 86 107 114 99%1C8* 98* 106 S 30 14 22 87 88* 14 87 91* 101% 108* •••• •••*• t » • • t • • I • I 98 92 104 87 I 97* 95 116*180* 118*118* 188 186 i'ii" iVfi* 95)4 "»8K . • • 35 ••• 101 • •••• • • • • • 104* 118% 107% 108% 108* 109* 109 Aug'00 109* Apr'00 75 106 108 •••••I ••••• »•*••• • • • »• ••••» •••••• 112% Aug'97 116" Jan.v00 115 115 May'00 116* lll*Jl'y'00 114% 117 181% Aug'OO 120* Aug'OO 180* J'ly '00 101* J'ly'00 109* 109* 119* 124* 101 104 106 102 114 120 108*112 118 119 Aug'OO Bonds dme Ang. 124 186 J-J J-J 182* A-O 109* W Chto 8t40-yr litourSi.'28 M-N 40-year oon g 5i 1936 M-N GAB A BLBOTBIO LIGHT BON DB. Atlanta Q L Co lit g 5a.l947 J-D Boi U Gai tr otii f g 5i. .'89 J-J •••••• Bklyn U Gai lit oon g Si. '45 M-N 115 ChOLAOCo. SmPGACOo Columbui Gai litg St.. 1932 J-J Con Gai Co. SeePGACCo. 1 928 J- J 96 Detroit City Gaa g 5i Det Ga* Co oon lit g 5i. .1918 F-A 101 Hd Bl 111 Bkn. See B Co BLAP Ed El 111. SeeNYG ABLHAP itqGasLN Y litoong 5s. 3* M-8 130* Bq O A Fuel. See P G A C Co. Guaranteed gold 5I...1937 Third Av lit gold 5l. . 1937 Un Bl (Ohio) lit g Si... .1945 . . 111 . . , . 99 • •till J-D 103 Due July. I Due March. 1 Dae Jan. I jnieoellaneoiii. Par American Chicle Co,.,, Preferred , American Ginning k w «r Graphophone. . 10 t Preferred ...10 t . . Bid. Aik. 65 72 89 91% 78* 10* 11% .,,,.,.. Press Assoo*n. .100 American Screw 250 1200 15 85 Amer Shipbuilding ..100 Preferred 100 Am Soda Foun—Cora 100 lit preferred 100 2d preferred 100 . 11 It* 30 80 Bid. Aik. lt-6 FAA Bonds 6s Km Typefo'n—Stock. 100 Amer. Woolen—Com..,. 100 64 50 Vmer 8trawboard...,100 Preferred Amer Wringer com... 100 Pref 25 100 8 48* 10* Amer. Writing Paper.... 80* 3D* 68 18* 13 69* 69 107 Oot.'98 Sale • 94 100 115% Aug'OO 115% UM 103 103 113 103 118 1 8 14 Preferred 5| . ... ........ i •••••••• Asphalt of Amer. Bte P hlla. 17 78 It. I1W iSO! aalee. J MI8GBLU8, Mleeellaneona. Sm Car Preferred Par. 100 100 A Bng Br lit 6i... Company—Com.. 50 Preferred *ond 118 22 Barney A Bliss ••V 114 e These are option Bergn •••• It 116 60 A Mort Guar. ..100 British Colombia Jellnlold Co. 11 teiti •••••' ••••f ••••• 97 96* 96 99* Nov'99 Sale Die Not. 170 [YlUcpllnncoui. Par. DM 1 116% Aug'OO vmenoan Surety 116 iiwii •111*1 lie . Gas AEleoBergCo cong 5i'49 HI ii7% e«e« . 101% Gen Bleo Co deb g 5i... 1922 J-D 109* Gr tapGLCo litg 5i..l915 F-A 109 KC Mo Gas Co 1st g 5i.l922 A-O i 122* 128* 109* Deo '99 Pale (Given at poor of 7 oonsbotjtivb pages).— FERRY Amer 114* 114* 111 1 108% Amer Mntoioope 117 J'ly '00 . Deo'98 t 87 Jan.'00 Wll Oent SO-yr 1st gen 4i..'49 J-J 88* 88% 88% 88% STBKBT BAILWAY BON DB. 110* BklynBapTrgSi A-O 103 104 1945 108% 103* 104* 106* 32 Atl Av Bklyn Imp g 5il934 J-J 110 Jan.'9w 98* 102% Bk City lstcon 5s.l916.'41 J-J 100 110 116 Nov'99 BkQCoAScongng5i..'41 M-N 100 99% Aug'OO 100 105 Bklyn Un Bl 1st g 4-5sl950 F-A 90 92% 92% Aug'OO By Bait lstg City 8 5i 1922 J-D A 109 111* Den Oon Tr Co litg 5I..1933 A-O 95 J'ne'00 111% 118 Den Tram Cooon g 6i.l9l0 J-J 81 87 Met By Co lit gn g 6i.l91l J-J 109 Mar'98 120* 120* Louli By Co litoong 51.1930 J-J iarket St C By lit g Ba.1918 J -J Vet Bt By gen tr g 5s. 1997 F-A 117 117 BwayA7thAvlitog Si.1943 J-D 121 121 Beglitered 194S J-D 98* 99 14 125 J'ly *00 78 80% ColA9thAv lit gug5i. 1983 M-8 Beglitered 1993 M-8 26 110 114* Lex AvAP Flit gug 5i.'93 M-8 109 110 186% Aug'OO Beglitered M-8 110% 110% MetWSBI(Chic)lstg.4i.l9S8 F-A 97* 97 111* 112 Registered. 1938 F-A 117% 119 L 30-y t-A * 11 Ivl Ry A r 5| 1926 g 106 Oot-'99 106* 105* 104%" 109* 41nn Bt Ry litoong Si. 191 J-J Oot.'99 109 112 Aug'OO 116 116* it Paul City Cab. g Si. 1937 J-J 112 116 106*Nov'97 102 102* thli week, 1U~ 110 ill* 105* 106* 116% 121 78 3 117 • 100 68 lltmortSi 1919...JAD $105 108 82 Union Ferry—Stock 88 MAN « 96* 98 lit Si 1920 Am Agrtoul Chem— See iff • OUTSIDE SECURITIES 1 Oth Iitg6itr.l916 Beglitered flxten Nov'99 97 May'00 • • • • • 1 • J'ne'9fi A-O J-D A-O J-J J-D Weit No Weit Shore. 8m N Y Oent 98* 99% J'ne'00 82 81% 119 • •i«i ••••• ••••• Deb Si itamped 1927 A-O 109 BoOar AGalitgSi.. 1919 M-N 104 Mo prtoe W litgold 41.1917 OreByANavlitif g6il90fc 118% Utah • • • a • Aug'00 110% Aug'00 111% Aug'00 e e e e 117 111% 112 St.... April, 1943 Nov. Car. Bet South By. 110 e • e e e J'ly'00 J-D Inoome •••••• 116 118 110 117 106 112 M-N 117 F-A 101 Sale J-J • 70 112 112 J-J 83* Bale litg5«DetAObBxt..l94i J-J 109 126* 126* Dei Moln Dlv 1st g 4s.l93i J -J WO MIIK StOhaiBridge litgtfi. 1908 A-O 111% Warren BB. 8m Del LAW 102% 106 Wash Cent See Nor Pao 86 85 Wash OA W. 8m Bouthern WeitN Y APa lit g 51.1937 J -J 118% 120 Geng3-4i 1948 A-O 93% 93% 98* Aug'00 '117 U4%119 112% 115* 114* 116* 111 114 114 '118 litgSi 1939 2d gold 5i 19S9 Debenture leriei A.. . .1939 BeneiB. 1939 98 107 J'ly'00 fc i J'ne'00 96% M-8 J-J 102 Bale J-J 108% Bale J -J J-J •107*.... J-J •••• •••••• J-J ••II ••••• W T V a A Qa Dlvg Si. 1930 J-J Oon lit gSi 1958 M-N Ten reor Hen g 4-5i.l938 M-8 Beglitered 1938 M-8 * 128 Apr'00 78* Sale Bale 117* 117 • 1 128 J-Dt "81% "SB* J-Dt F-A •109* 110 Ore Oal Iitg8l..l905 2000 Weit'n dlv lit g Si... 1935 General gold Si 193S Kan A M lit gn g 4i. ..199C Jan.'99 85 ' 111* J'ly '00 '96' Aue'00 Aug'OO Pao Co. g6i. 1936 98* III.., 109 108 87 111 110 87 102* 106 1 lit gold 6s «er B..1905 lit gold 6 1906 lit sold 6l 1912 lit oon guar g Si .. 1 937 See 80 WVaAPitti. J-J F-A F-A ete* • ••• *'••• 109 119 • Bale •• v ItBBI i'09" Jan. 99 103% 104%Feb.'98 78* Oot'99 MK&T lit g Ya Oent A P lit g 61.1911 W Wheel'gALB lit J-Dt J-Dt •••••• 111111 •••••• .....I •••••• mihi 103% 108 86 85 92 wo Low.Higk 119 J-D •108 106 Aug'00 MezAPao lit g....5i'31 M-N 98% Bale 98% 99 Otla T GAN it gn g Si 1924 M-N •108* 105* J'ly'00 Hous E &WT 1st g Sb.1 933 M-N 110 105 Aug'00 1st gug Si 1983 M-N HATU et « 5i lnt g u.1937 J -J 110 111 110% llf% Oong6ilntgtd 1912 A-O 111*113 112 Aug'00 Oeng4i lntgtd 82 1921 A-O • 81 81 Aug'00 Morgan'! La AT lit 7i 191 A-O 136 134 Nov'99 latg6i J 1920 -J 119% 120* Feb '00 NYTAMexgulitg4i.'12 A-O Hoof Cal lit gug 6i... 1907 J-J Guaranteed gold 5»..1938 A-O 106 Aug'00 BoPof Argu utg6i. -09-10 O. 102 J-D 85 93* 2d gold lno. Si. Deo...200r: Mob. 1935 J-J 53% 65* TolAOC lltgSi W J-J AAN • •«•••• •••••• #••••• 4*i. '89 lit oon gold 6i. .1894-1944 Tex A N tine* Jan.1. . 98 W . S<e A of St L (Mill M-N M-N F-A J-J J-J A-O F-A BtLMBgeTergugSi.1930 A-O - er Range &* 100 99 Aug'OO 112*116% Tor Ham A Buff litg 4i.l946 J-Dt liter A Del lit g Si 1928 J-D 106 107 Aug'OO 103 105* 8S6 101% 118* 121* U n Pao— BB A gg 4il 947 J-J 105* 105* 106 113 i Stamped rfebo&N. • Wabash i BPof Stat III By lit gu g 4*1.1943 121% 126 106 113% Sunb A Lew— See Penn BR, Syra Bing A N Y. See DLAW. 103* 104 TStLAKO 108% Nov'99 litg Si Bt Jobn'i Dlv 1 it a 4i.. 1 934 J-J Ala Mid let gu g 5s... 1928 M-N 82 •> gn g 4i. 1 938 J -J Bran* at Sil S Oca & G gu g 4i 1918 J-J Beioto VaJ A n H. See Nor A Beab A Boa lit Si 1926 J-J •105 Car Cent lit oon g It 1949 J-J Bber Bhr A So. 8m M K A T 811 B Oca & G See 8av F & Bod Bay A So lit g Si. . 1924 Bo Car A Ga. See Southern. Southern Pacific CoGold 4i Cent Pao ooL.1949 Registered 1949 Wilt gngSi... 1941 CPac 1st iefgug4s... 1949 Beglitered 1949 Mort guars S*s...,1929 Beglitered 1929 Oal Bar ABA lit g 61.1910 8dg7 1905 Si W 117* 121 137 142* Tol Peo A 108% Apr'00 i'ao" Atk. Low. High, TexAP By BdlT litg 61.1905 M-S 105 90 104 M-8 A-O W lit eon g 61.1934 1934 A-O W 1M* 84 98* 100 95 91 See BAAAP. 8m So Pao. Co, BFANPlit if g Si.. .1919 Si 113* 8 A N Ala, 8m L A N. 119* Spok FaUiANor litg 6i.l939 79 117* J'ly'00 137* Aug'00 137% Feb '99 114* Aug'00 106*Mar'98 . Nor Par BtP AS'xOlty.SeeOStPMAO BBePres A Ph let a 51.1942 B Small Series F . J-D 103 J-D A-O 108 A-O A-O A-O J-J J-J 180 J-J J-J •116* J-J Will AB Flits Si. ...1938 J-D •iYs" Beglitered 1938 J-D . 4-5i lit gold 5i StPaul&Dul eNorFac Mt rani M A Man 3d 8i.l»09 A-O 118 . 111 La*t Bale. Ifeefc't 31. 1936 Gtd itamped. 1936 OA lit oy gu 41.1924 Weit N O lit oon g 6i. 191 Nov'99 110 121 Sd g 4i lno bond otfl. .1989 J-JI Gray's Pt Ter litgug 5i'47 J-D 1933 1933 Beglitered Beduoedtogoldi*i 1933 Beglitered 1933 Dakota ext gold 6i. ... 1910 Mont Bxt lit gold it.. 1937 1937 Beglitered Mlltdivlitg5i.,.1908 Beglitered 1908 Nor dlv lit s <•.... 1940 Beglitered 1940 Minn Union lit g 6a. 1022 MontC lit gugBi... .1987 Beglitered 1937 lit guar gold 6i 1937 Beglitered 1987 D Series 85 81 Aug. 31. A 61. 1906 M-B 1911 M-8 ••••• 1918 M-8 •••••« 1921 M-8 Ml.l 1921 M-8 HUM 1926 M-8 •••••• 1926 M-8 1981 M-S B6i Seiiei BerieiC 6i W BtLBW litg 4ibdofi. 1989 M-N oomoi gold 6i 92% 98 [Vol. LXli, Mange or Bid. Southern— (Con) Virginia Mid ler GenSi 8o. See IUlnoii Cent. lit Wekk Ending Aug. 4. Price Friday, BONDS. Small 80 81% "8*6"' Aug'00 BFBBg4i....l996 J-J 100 J'ne'00 8outhwDlvlitg5i.l94 A-O 100*..., A-0 A-O J-D 81 71 • • • LA . 1. Pagi (5 pages) N.T. STOCK EXCHANGE Series Bt L K O A N. See Wabaih. Bt L M Br. See T KB A of 8tl Bt Lonii A Ban Franoinco— 190H M-N 3d gold 6i Class A 1906 M-N 2d sold 8l OlauB 1906 M-N 8d gold Oi Clan 1931 J-J General gold 6i 1931 J-J General gold 5 1987 A-O lit trait gold Si lit g 6i Pierce O A 0..1919 F- Cent Dlv litg 4i. 1989 Ft BAY BBdg litg 61.1910 Kaniai Mid let gii... 1937 tint* Jan. Nov'99 77* Ang'00 93 98 PRICES Bang* Is Low. High. No. Low. High Atfc 77 92 Boon A Pitta. See B B A P. Borne Wat. A Og See NY Cent. Salt Lake C lit g if 8i. .1913 J -J tJoAGIlltg 3-4I...1947 J -J Bt L A Oat 8m Mob A Ohio. 8t L A Iron Mount. Set M P Bt 9" • Copper 100 Tent FireWrki—Com.100 Preferred 100 t Price p i And Interest, Bid. AH "7b 98 90 9f "•8% 7» 18 62* 990 1 * ft 98 it 18 68 >i 9 8 ... Sept. 1, • THE CHRONICLE -BOND 1900.] Pries Friday, Aug. 31. 3tj BOND8. EXCHANGE STOCK K. Y. Week Ending APQ. 31. ll Range Bine* I* i»MH • n • • • • • • • " d si 111 lit no"" Is. Patersor A j.j •••• -» • reo .asAUlatgug6a..l904 .T-D 3d stag*:. \l<>* 19*3 1st oonsol g 6s Refunding g 1947 5s. •1942 Heglstered O* Wllit a Ks.1049. 1*1- • • 107 104 J'ly '00 106 Deo '98 Mil 108 108k 107 105 108 *. 105 105 108 • • ••• If e e • CTi<M.ACkelstgug5s37 J-.I Con O Oo of Ohlstgu g 5s 36 .T-D J-.I Bad A yOhlstguges.'05 Ho Fuel Gas lit gu g 5. 1947 M-N Trent/"' 29 B • J'ly '00 J'ly '00 • E LA P lit if g 58.1950 1 -J Wei ttai «'0 OOi tr g ^i... 83 M-N 0<>AL A IKON BONDS. ClahHoalMln. 8e«TClAR. 'leart BttCoa). SssNYCAH 107 103k 106 180k 137 ••• 107 106 108 103 ••• • III II . L06* J'ne'00 •• F-A oAl 1st oongOs... 1902 J-J * I Pev Co gu g 5i. .1909 908 Coupons J Col Fuel Co gen gold 8s. 191 m-n Ool r A I Co gen s f g5s. 1943 F-A De Bardel C 4 1. See T 0*1. Or «tlv Coal AC 1st g 6s. 1919 A-O offl. Sun Ok Coal lit g 1 f 6I..1912 TranCoalTDlv Istg6sl917 Blrm DlT lit oon6i. 1917 Cab C M Co lit gu g 6i..'22 De Bar C A I Co gu g 6s.'10 WhLB APCOo f»tg5i.'19 101 f*nt Am 8i. . . •••• rii»Mig Istg6s..l9i5 . Am mill A Gamb lit g 6i. .'40 Stan Rope AT litg tuoome g 5s BnvelOo lit 6i.l946 1946 g6sl918 «e Jan.'OO • 1 I 100k 108k * • • • • 58 58 108 90 103 10 93 • • 105 106 106 • 99 • ft ft J'ly '00 • ft • • 101 • 1 • 33 Jan.'OO • • • • ••ell 99 70 • • i 14 • • 'on Ang'00 87 •••••• 67 10 vi h 13 ioa" iVs 110 105 109 S3 80 18 70 Cheeebrougb Mfg Co. 100 368 94 Chicago A Alton RR Si... ChtcAAlRySks w. i.) Com stock wh Issued) 80 96 60 101 101 ( Pret (when issued).. Claflln iH B)-latprel.l00 100 3d preferred 113 105 Alk 40 95 87k 98 70 108 108 IS* Boat » ft •• » ft ft • ft • • 68 Empire 80 16 40 Steel 8 Preferred B-te A Western Trans. 50 A Dep (Bait).. 50 General Carriage General Chemical. ....100 Preferred. 100 3 67 50 118 6 •• 68 99 Gorham Mfg Co-Com.100 110 Preferred 100 Preferred Hsok-Oones-J Mlll-Pf.l00 1st 6s 1922 40 ..MAS 75 ner'g-Hall-Mar(asat p'd). Preferred (aaat p'd) 100 Hoboken Land A lmp't. BleoVeh Trans. 10 t ik International Klevat.100 Intemat'l Pump—Com. . i8k Preferred. 66 Internat Silver— See 8tk. Bxoh. 5° Do *o pref. do bonds. Inter-State Oil Don SUMuuDuat. loo ..jij iohn B Stetson—Com. 100 Preferred loo •s 1901 Journeay A Bumham.lOO Preferred 100 Lanston Monotype..., 20 Lawyers' Surety loo Lawrers' Title Ins. ... 100 37 I 98 67k 2k 3d 6s 1919 MAN JJ««««n Copper Mix Nat Conatruot'n, pfd Minneapolis Brew 1st 7a \ 55 85 80 1 100 16k Nat Enamel'g A Stamping ik i9k 67 list. 89 98 58 80 30 ii* 95 160 ft 18 1C5 170 108 7 40 I* 8) 20 81 34 78 76 18 86 8Tk 88 86* 87k 37k 89 Elevator—Com.. . Preferred Peok, 8tow A Wlloox. .25 1 Pennsylvania Coal 50 410 ••••ft Pitts Bess 50 t 81 2ik Pittsburg Brewing 50 1 23k 28k Preferred 50 t 48 43* Pittsburg Coal. .100 84k 34 k Preferred ..100 80k 80k Pitts Plate Glasa.,,,.100 162* 163 18 Planters' Compress ..100 16 Pratt A Whitn— Pref 100 55 450 Procter A Gamble.... 100 425 110 Preferred 100 2U3 1st 6s— See Stock Bxoh list. • • - • • i 99 ......... t 6 111* 1159k 114 135 138 525 Preferred .....100 3d preferred ..100 Singer Mfg Co 100 Standard Oil of N J.. 100 535 Stand Und'rg'd Cable. 100 196 Sloaa-Sheffleld See Stock Bxoh Southern Cotton Oil. .60 t 03k Stan dardCoupler.com .... 40 P r *3 f © r r g d 198 8tat Ial R T 1st 6s' iSAAO 107 3d 5s 1926 JAJ 95 Stlllw-Blerce A Sm-V.100 50 Storage Power IS 100 101 Swift A Co 1st 5s 1910-1914.. .JAJ 1102 SusqCoal6s 1911. ...JAJ 118 Texas A Paoiflo Coal. 100 75 1st 6s 1908 AAO «107k TlUeGnarA Trust... 100 390 Trenton Pott—Com.. 100 3 Preferred 50 100 Trow Directory-New. 100 00 Union Copper Union Steel A Chain. ,, .... 93 87k 29k 76k 77k 66k 115 8* 8 125 105 140 144 000 537 2t0 .Hsu • ft ft 60 65 15 108 103 140 85 .... 400 7 55 60 2* 8 • 110 • Small... Class B 5s Class O 4s , 108 1906 101k 103k •••••• •••••! ••••• •••••« • •••II Nor'99 •<•«•• ••••!• MUM 109k "H«« 105k 106k 13 109 103k 105 3 108k 113 46 10Sk H8k 109k 109k 114 114 117k 118k 188k 187k 4 181k 137k 112k 116W 113k H6& > • • • i ft • 134k iS4k 113k J'ly '00 113k Aug'00 ft hsnissuear ent " for bond Dtst of ......1906 Columbia— 3'65s.l924 Louisiana— New oon 4s.. 1914 Small Missouri— Funding. ..1894-95 Nortn Car— Conaol 4s...l910 1919 So Carolina— 4Ws 30-40.1933 Tenn—New aettlem't 3s . 191 i Due April. I ..., 181 Apr '00 ..„ 108 108 ..., 109k Feb. '99 104 100 106k J'ne'00 187k 188 115 94 180 95 Feb '98 Mar'00 1 Banlta. Bid. Qu N. Y. CITY. America*.... 450 Am Bxoh.... 183 Broadway.... Butch'sADr.. Chatham .... Chemical..... Colonial* .... Columbia*... Commerce. . Continental Corn Exch*.. 85 Ask. 500 290 240 85 170 475 300 4000 140 320 275 190 260 130 34J Domes. Exoh - • •• U 345 350 103 Baat River.. 140 11th Ward*. 150 Fifth Ave*. 2400 3900 225 3600 14th Street*. 145 165 175 Gu 170 400 Park Peoples'*.... 380 100 Phenix 475 Plasa* Prod Bxoh*.. 135 Republic .... 230 Riverside*... 310 Seaboard .... 290 600 Seoond A Le'th . Mt Morna*. * 185 Int. t [to* Bid. Qu otati 200 140 126 105 .•••II Trust Coo. N. Y. CITY. •• 180 430 • ft Atlantlo Tr. Bankera' Tr 300 • • • 180' Colonial.... 340 Continental 376 • • • • Fifth ft Ave Tr 485 Guaranty Tr 135 ft* Manhattan ' • ft • 85 110 300 Tra*. 270 100 285 Nassau 265 Nat City North Side*.. ••• 170 305 195 People's* 155 Scherm'rh'n* 150 17th Ward*. 110 Prloe per share. •••• 675 350 . MortonTruat N Y L I A Tr N Y Seo A Tr North Amer. . ft . • . Hamilton*... 110k Kings Co*.... 100 Manufaot'rs. 380 Mechanics* 190 Merchants'. •••••« Farm Ln ATr 1400 1485 330 • • 150 300 830 . First 305 ano Central Tr'at. 1950 3050 860 300 Oity Trust. BR'KLYN. . I Bowl'gGreen 185 CtLRlty BAT 450 Bedford*.... 310 345 Broadway* Brooklyn* .. 110 8th Ward*... 5th Ave*.... 100 8q*.... • 105 115 NY* 130 >•••• Kniok'rb'ck'r 400 12th Ward*.. 23d Ward*... >nt. ...... ...... ...... >••••• 800 Mercantile 300 Merohants' Metropolitan 435 Banks marked with an asterisk accrued >••••• 105 YorkviUi*.. 130 180 55 87* 40* 100 300 139 100 100 235 375 415 285 West Side*.. Western.".... . 48 83k 87k 33k 1?§* Banks. , Seventh...... 180 Mech A 10 Bid. A Coke. 100 . 19th Ward*.. 100 190 Ninth Unton IS 9: 6k Sprague 36th Ward* Union* Wallabout* New Amst.*.. 675 NewYork Co. 1500 N Y Nat Ex- 120 New York.... 350 State* State of 180 96 96 190 94 91 85 Brokers otatio 140 175 1750 German Am* 130 180 German Bx*. 265 Germanla*.. 400 Greenwieh*.. 165 Hamilton* .. 145 Hano'rfnew) 435 Hide A L ath 130 Imp A Trad. 515 530 180 190 Leather Mfr. 310 310 Lincoln 775 Manhattan* 265 280 Market A Ful 210 330 Mechanic*'. 300 310 Meoh A Tra* 95 100 Metropolla*.. 575 Ask. Bid. Gallatin 390 Gansevoort*. 60 Mercantile *200 Meroh Bxoh. 185 Merchant!' 170 106k 106k . Bank*. Shoe 181 106k 108k 8 & MISCELL'S. North Amer. 200 375 ft I MAS 6s 1949 Westlngh Air Brake. .50 Worthing. Pump, pfd.100 Paclflo* 150 .....I ....ft 181 6k Va, Coal L-on 33 Brokers' 101 108 ft Mlecellaneon*. Par, 8 Envelope—Com.. 10 Oriental*.... 1188 340 ft ft 100 U 8 Glass—Common. .100 100 Preferred Mutual* Nassau* 470 190 • ft Pref. 4k 8k otati one. i Due August. aThese are option sails. Mleeellaneone. Par Bid. Asi. Union Steel A Cham pref 36 Union Swltoh A Signal. 50 t 43k 44 Preferred 50 t 67k 78k Union Typewr—Com. 100 87k 89 1st preferred. 100 109 111 3d preferred 100 118 183 Brokers' •••••• •••••• 95 6k Bonds due January. H6M 108k III • III • 96k J'ne'00 89M 90k 89k Aug'bO Virginia fund debt 2-3s. 1991 Registered •s deferred cents 97k Aug'98 8ep.'98 Jan. '00 ••••• ••••I 103k 138 108 107 698 lookJiy'oo 105 108 108 nik 108k • • t ISf-kJ'ly'OO ..., „.., 112 v receding.) <te May'00 108k J'ne'00 115k Aug'00 115* Aug'00 ..., 108 100 H«« OoV99 seventh va 109k 107k.... ••!••• ..•••I •••• •••• 118k Q-J , ••••• ...!• .l.l«« 110k Aug'00 see mi MM ••• • J-J 8TATB SECURITIES. Alabama— Clasi A 4 to 5. 1906 J-J 189 25 60 118 •• •III Feb.'98 109)| U. S. Cast Iron Pipe. Preferred.... NT . 4 • ft ft 17k National Bait 89 41 66 Preferred.... 66 National Surety 100 150 180 National Tube See NY Stk Jxoh. list. 62 National Wall Paper. 100 75 N. B. Eleo. Veh.Trani.. 10 t 3k 4k N T Loan A Imp 100 70 85 Biscuit 6i 1911. MAS usk New Jer Zinc A Iron.. 100 N. Y. EL Veh. Tranap .100 7k 8 Nicholson File Co 50 t 69 Slmmona H'rdw-Com.100 130 Uk 40k 40k 40k 41 National Carbon. .....100 100 Preferred Preferred Russell A Erwin. 25 Safety Car Heat A Lt.100 Beaooast Packing Co Preferred..,, 8 (Pi— Pref...i00 100 Madison 8q. Garden— 100 6 Lorlllard 50 48 45 96 115 Ask l-k • J'ly '00 104 109 UB US Due May. * •II ••••i Feb'O' 118 J -J •III • 101k 101k May'00 •••••I *••!•• •III!* •••|| ••••!• •••«•• Small 84 Bid i Rubber Goods Mfg....... 110 106 6a flllnols 100 40 •••>» • ..... • • 104 105 81k 87k • 10 10 •••••• -J a -J 19 ••••• Oot.'9P 8k (Given at foot o* 7 consecutive pages).—BANKS RoyBakPowpf 120 ok 116k 103 3 81k Ang'00 75 75 . 97 ••III •••••• • • • • ••••is •••••• 101 •••••I •••!•• 1 1 8mall ALB 18 60 11 Futility Harana Commercial. 84 9k 84 Gramophone.... 100 National Saw— Pref.. 100 35 t 107k •••II ••••*• Nat'l 16 40 90 0. 8. GOV. 8BCORIT1B8. (For daily record 2a 30-year refnndlngt.... 10dk 104k O S 2i 80-year reglatered t-. 103k 104k 1918 109 110 3i registered ..1918 3a coupon .,, 109 110 U 8 8a reg email bonds. 1918 109 110 U 8 3a oou small bonds. 1918 1907 U 8 4a reglatered 114k 115k 1907 U B 4a coupon 114k 115* 1925 reglatered U 8 4a 133k 134k 1925 U 8 4a coupon , 133k 184k ,1904 U 8 5a reglatered 118k ...1904 U 8 5s coupon 118k " stei Departm t Prices are made in the 105 87k 95 104k 103 Preferred 19k •••••I •••••I 111 ••II ••••I* Noy'9» •••••• ••••• •••••• ••III* •••••• '•!•• ••••• • Mexico a f g 5a of 1899 ...... •« 696k Aug'00 b Thete are prices on the basis o/ live dollars to the pound. •••• •••••• 105 Monongahela Rlrer Coal. Otis •>•••• •••••• •••••• •••••• US U S of 85 OS - 106 9 105 105 Bale •••••• •••••• ftftftllft J-D J-J M-S Currency funding 4s. ..1920 Monongahela Water... 35 100 Mosler Safe Co 45 80 90 JAJ 85 litg 6i 1917 Oonsolld Car Heating. 100 50 60 10 16 Oonsol Flrew'ks-Com.100 100 Preferred 55 66 Rubber Tire... Oonsol 7 Pref 33 37 Corbln Cabinet Look. 100 335 Corbln ^P. A F.) Co.... 85 t 85 Oram pi' 8h A Kn Bldg.100 75 80 Diamond Match Co... 100 122k 138k Distill. Co. of America. 4k 4k Preferred Keotrlo Vehicle Preferred ••Ill* •••••I •••••• •••••I •••••I •••III no 3r 8>k 118 I. Low High Ifo Fd and real eat g 4k. .1950 M-N 106k 106k 106k l««" Mut Un Teli fa 6i...l9ll M-N 109 May' FOR'GN GOV. SECURITIES. •••••1 •••••* Preferred 17 80 360 Common— See Bt.Bx. liat A Hook Ci al A I, pfd. Pnf 97k 81k 80k J-J M-N M-N Jan. ...... *•••!• •••II •••«•• 110 H3k H3k • * 118 113 Bale 74k 75k Col Eleotrlo ...... 6s OUTSIDE SECURITIES ' ' -.111 Miscellaneous. Par, Bid 4a... 2397 8397 Registered Erie ATooltrgif5i...l980 Met T A T lit • i g 5i.. . 1918 Cn. Mut Dn Tel Oo. See * t A N J Tel gen g 5a oy. '30 NoWeitn Teleg. See Weat.Dn. Weit Union— Ool tr cur 5i.'38 100k 104 11 104k May'00 J'ly '99 ftftlll 89k 89k 93 13k •••••• • lift Jan.'99 93 t • ft ft •••••• Apr '97 105k 105k 1 1st5»trotfs. Onateaugay Ore A Ir 6i 15 Ob.ee A O Grain Kl— lno. 95k 103 105 101 33 1 Jan.'OO 39k Feb ••••<• 98 • Aug'00 • • • •»t is •••••« • ft • 105 • • ft Feb '00 Aug'00 •••• iiiiii •••••• ft ft 71 9 •Me pnee Friday; these are latest bid and asked this week, t Due July k'n :om JableOo lit g Last Salt t IIIIII ioii<ioi)i 101k 101M 109 100 ' 70 75 69 J'ly '00 J-J F-A J 103 98 •••••6 • 105k M-S MIBCHLLANBOU8 BON D8. M-S Adami Bx—Col trg4i.l948 mDkAImpSi. S«eCenNJ F-A 5i'48 Bk lnFerryCo 1 it oon g wAWH • • • F-A J.j UB8LeathCosfdebg6s.'18 M-N a f Ang'00 Feb '00 * Thread lit col tit 4s 1919 J .J Bar ftBCarCo litg6i ..1942 J.J Gramerey Bug let g Be.. 1938 A-O 1910 J.J Fdteel Co debSi Non-oonv deben 5a... 191 A-O Int'l PaperColitoong6i.*18 F-A Knlok Ice (Chio) litg 5i. 1928 A-O Nat BtarohMfgOolstg6sl920 M-N Procter 101 58 107 190" Qu-F 1915 Cupples Station A PropCo litg 4ki 5-20 yr'17 B Yuba Wat Co oon g 6i. .'33 8p Val Wat Worki lit 6i.'06 Vermont Mar lit • f Si.1910 sine* ot Ask. Low. Wio* 110 Aug'00 Bid. AOnt Wn 95kJan.'97 May'97 80 May'97 J-D J-D M-N J-D A-OJ J-J J-D MAN'F'O A INDOBTBIAL. on 4«b g AmExtended 4k« t L Ter Rangt Week's Range Aug. 31. J-J M-S M-N J-J M-N ManBchHAL.geng4g.1940 M-N BAD D Si.l 990 J-Jt Newpt News Land litg 61.1910 F-A Northwestern Tel 7i....'04 Ool Col RoohAPitCAIpurm 5sl946 109 108 106 105k 100k l i. Jeff* Clear 041 Istg5sl92e 1926 SdgBi 109k •••••I •••••• •••ft Pnee I St 431 6. Friday, A-O Det MAM Id gr 8kl B A.1911 la .ik Wat Reor lit g 5i. 1936 He id B Co lit f a 8i...l931 1910 HoiokenLAIg 5s don Steamboat Co 6i... 1901 1919 5§... Mad Sq Gard litg TELE. A TELEPH. BONDS. •••••I •••••• • . 110 130 •07 1 • • May'00 Aug'00 Deo '99 94k U7H i ill* • HO •* •• • ft. •••••• Ctlc» 91 108 •*• >••• Aug'00 120k Aug'00 • in •••••I •••••• V 106 111 103k Page (5 pages) A BtTd ool g 5i.l915 j.j 1907 i-j Non-cum lno 5i > •••••• •••••• ••••!• •••••• ••• • ••**• •Mill 104 A-O M-S M-H in in . . . ,. Clhlo Jo • 9 llfMJ'ly'OO }zfS mP G A E K 5*- 1 "" M-N 1. ••in •••••• •tine •••••• ••• PRICES u . 3« BOND8. N. T. STOCK EXCHANGE Week Ending AUG. 31. Low High •••••• Kings Co Bl LAPg5ft.....'27 A-O •••••• •••••« •».,,, ...... l Purchase mon : *s2 J -J • •••*• MUM 97k Oct. '99 n Bkn-lstoon g 4».*89 Bd 111 May'tv •••••ft ••••• l "° A-O litf St •••••• •••*• •••••• •••••• •• • • •.•.«• A-O Registered 107 107 107 106 O-Wt 5s'l Uo Ges-L Oo of StLlstg Q-F* 19 •••• Small Mat Fuel Gas Co See PeopGas j-n 106 108 108 108 HTOBLH4P..«6l.m8 J-D 1»*| Registered 9»k 99k Bale 9<M Pwjbasemong 4s....i9«)» F-A 108*1 111 109* Aug'00 lit ooiit g 6il910 m-b • Jan. Ask. Low. High. Bid. A-O Week's Range or Last Sale. 3 .. .. .. . ! • i 475 435 455 1375 1485 750 t301 Real BstTr't 300 StandardTr't 310 ...... 305 Tr.Co.of Am. 330 300 Tr.Co-ofN.Y. Union Trust. 1300 1400 UBMtgATr. 1450 •••« Unit. States.. idOO 1600 Washington 390 BR'KLYN. Brooklyn Tt. 416 Flatbusii .... 160 Franklin. .... 300 Hamilton... 365 Kings Co.... 340 L Ial L A Tr <!50 Manufaot'rs 307 85 Naaaau 330 People'a... Willlamab'y* 1S5 •••••• •••••• •••••• • ••••• ••••• »••••• • •••i 338 200 ari State bai-ki. i Purchaser also pays Bale at Stook Bxon. or at suction this week (*) ' . .. . . . THE CHKONICLE. 432 [Vol. LX2I, Boston, Philadelphia and Baltimore Stock Exchanges— A Daily and Yearly Record. Sales Share Prices— Not Per Centum Prices. Range Saturday, Aug. 25. Monday, Tuesday Aug. 27. Aug. 2? • i 148 • 189 195 •185 180 30* 848 318 248 348 •148 ••••> 148* 148k 147* 140 140 844 344 • 344 • V ... •183 100 188 188 190 100 100 194*124* 125* 121* 131* 134 134 •185 136 •135 136 135*138 138 •135 125 '8*6' 136 186 •135 SO •89* 30 80 30 •20* 350 148 844 189 185 1SB 188 30 • 40* 40* •40 40* 137* 139 •35* 25* 40* 40k •187 36* 948 350 • • • 4 88 •32* •75* 78 •11* 13* •U* •51% 51 •70* 71i( 50* 50* •70* 71 25* 35* 33 33* 33 33 76 76 18* 76 76 40* •10 130 139 •II* 13 •86* 87* 5f* 50* 70* 71 305 805 •304 3C5 •ao4 805 84* 84* 63 16-16 4* 84 64 -It' 50* 51 71* •71 303 305 64* 64* I 09* 99k 09* 00* 98* 00k 09* 100 8* 8* •8* 8 7-16 •8* 8* 8* 8* a 88* 89 38 11-16 * 38* 38* •13* 14 •14 •14 14k 14* •13* 14 58 58* 5S* 58* 58 08* 68* 58 76 75* 75* 76 76 78 78 76 88* 88* 36* 36T* 36* 38* 36* 86* 16* 16* •16* 16* ne* 16* 16* 16k 93* 94 88 04 •85 76 •75* 2 1* 03* 03* 04 •87* 88* 87* 88 88 25* 85* •75 8 04 94 •35 36 78 •75* 88 75* 75* 1* 1* 1* 1* 1* 88* 88* •35 26 76 *••••• •••••« •40 • ••• ' 03* 315 83 •755 317 83 758 16 16 •48 •96 08 •63 745 16* 16* •54* •33* *53* 84* 34* •58* 54* »* 0* 16 56 16 •08 08 315 •63 •763 08 34 •07 •56 65 • <8 65 • • 34* 34* 53* 58* no STOCKS » • MAT" Pref Inds Street KG " . 50 50 " 100 Pref Little Sohuylk.(Phll) 50 Mains Central. (Bost)100 Mlnshill ASH. (Phil) 50 50 Nssquehon'g V. " 50 North Penn.... " Pere Marqu'te.(Bost)100 " * 100 . WestJer A 8 8. (Phil) 50 5C WestNTAPa. " Wis Cent, new.(Bost)100 " 100 Pref WorNashAR. " 100 mer.Oementl(Phll) ... 82* 32* 8 •• 14* 38* 125 8* 10* 61 7 1* 45* 7'* "r,n 16* 17 << 86 Central Oil Con. Lake Sup. (Phil) 60 16 "s'o'k " 0C " 86* 6* 6 10 8* 110 at* 31 170* 15* 111 808* 306 18* 14 138* 189* 180 140 •snBl Auto-Mi (Phil) 00 Ind-Bgyu ComT(Bost) 1 00 IntBntHABM " 1C 86 Uls Royals T.... " Monufao Rub.. (Phil) 00 " PTef 00 MarylandBrsw.(Balt) 1 00 " 100 Prsferrsd... Mergsn thaler . . ( Bost) 1 00 ,f Mas Tslsohons " 10 8* 91* 1* a* 30* •47 10 188 Preferred T " Federal Steel 54 48 65 Westingh. Bleotrio Preferred..... 8 10 68 Bonds— Boston. Am Beil Tel 4i.. 1908 J* Adjustment g 4s.. 1995 Boston Term'13*s.. 1947 BosUnGaslst5s.'39JAJ 3dM5s 1980 JAJ Bur A Mo Riv ex'pt 6s. JAJ Non-exempt 6s. '18 JAJ Plain 4s 1010 JAJ Ch Bur AQ 4S.1023FAA 70 Hz 1014MAS 4s 1016 MAN I 8 27* 37* ae* 28* 3 BaltAPlst6sml 1011 AAO 83 35 30 1st 6s tunnel 1011..JAJ 20* 24* 0* Bal Trao lst5s.l920MAN 24* h 31 10 * 81* 8* • • s at • S • • t • si MIM 3 41 •• 3* 41* 00* 100 90 0«* 8C* 85* 111* 74 47 116 { { {IK* {103* M W K CA M RyAB 5s.'29 AAO nos K O St Jo A C B 7s.'07 JAJ ino 1980... MAi- t • 1110 I 79 85* 18* •••« ••IS 80' 61 43 Jan. S 6* 06* Mar. July July Mar. July 8 KnoxvTrao lst5s '28 AAO LakeRBllstgu5s'42MAS 118 3 133 14 3 3,311 601 *107 118 iii" 108* 31 Jan. 6 Jan. IS 5l 5 Jan. t « 50 paid in. 40 40 61 AAO 6s 1000 JAJ 6s gold 1000 JAJ 6s 1004 JAJ 1026.... Series A 0s Series B 0s 1036.... JAJ est* • 114 100 103* 103* Un Trao 100* 80 88* 60 130* no 5s. 1026 JAJ 3d series 6s.. 1011 MAS 3d series 8s.. 1018 MAS 4th ser 3-4-5s. 1081 MAS 5th series 6s.l036MA8 108 181 181 (State) 3s Find nsw.'33JAJ <1ebt3-Ss. 1001 JAJ 80* Edison Bleo 5s stk tr otfs BlecA Peop's Tr stk tr ctf t HlmAWilm 1st 6s.'10 JAJ Income 5s... .2882 AAO Bq 111 Gas-L Istg5s.l02* Hestonv M A F oon 5s. '24 HA B Top oon 5s.'25 A to Indianapolis Ry 4s.. 1 033 K C Sub B 1st 6s..'20 JAD Lehigh Nav 4*s. .'14 Q-J RR4sg 1014 Q-fr Gen M 4*s g. .1024 o-l Leh V C*l 1st 5s g.'33 JAJ 78 104 ••#•81 1910 MAS 1033 JAD 7s. Consol 8s New'kConGas Newark Pass oon 5s.l030 NYPhtlANorlst4s '39JAJ Income 4s ... 1 030 MAN No Penn 1st 4s..'36 MAN 10OSJAJ 6s r... 1010 Consol 6s 0.... 1005 Consol 5s r.... 1010 Penn A Md Steel oon Pa A N Y Can 1 Yai Yai Yai 6s. Cons 5s Cons 4s 1030 1030 Penn Steel lst5s.'17MAN People's Tr tr certs is.'i;- Bleo gold trust otfs Q-l< Oollat trust 4s.l031 JAJ Pitts CAStL 7s. 1000 FAA Read Oo gen St I ei* 00* • 73* • * • s 1 110 70 •••••• 118 107 113 108* 103* 1007 JAJ Rochester By oon 5s. 1030 SohRBSldelstSs g'35JAD Boran Trao 1st 6s^38MAN Union Tsrm'l Istis.KAA United N J 4s..l944MAt UnTraoPltU «eu5s'07 J AJ lAnd 188* 198 116* 104 80 4s, interest. i30* 105 • •••• •••• • iMt • ••It 100* mil 186 113 01* AD 118 AAO 110* AAO 00 • • • • • • • 7s.. '06 J Terminal 5s g.1041 • • • ••••< i'0'7* JAD 188* JAD 103* Annuity 6s PWU A Bait 4s. 1017 AA*. * ioi* 101* Leh Val ext 4s.. 1048 JAD 06 73 119 90 116 .••*•• Bxt Imp Mis g.'47 AAC Con M of '88 4s.'37 JA. 00* 100 U9* 78 ConTraoof NJlBt5s..'SH sttt Del A B Bk 1st 7s. '05 FA.A EastAA 1st M 5s.'20 MAIt 113* . 106 88 181 111 MAN Trust oertfs 4s PhABr gen M 5g.'30 AAO Gen M 4s g.. 1920 AAO Ph A Read 3d 5s.'33 AAv Consol M 7s. 1011 JAL Con M 6s g... 1011 JA1 ) A Roan Asl!. 106 Phl'.a 5s. UoBlLAPlst4*s'80MAN Un By A Kl lst4s'40.MA8 85 paid. ChooOkAGgen 5s'10JAJ 105* Clt's'St Ry (Ind)oon 5s.'3S 107* Colum St Ry 1 st con 5s. 3 GenM7s BavFlaAWest5s'34AAO 113* 06* Seaboard loan oertfs ...... Seab tr otfs Penn gen 1097 JAJ 114* 115 PotomYal lst5s.l941JAJ BeoA vTn(Pitts 5s'34 J A D 117* Pitt I Bid. 5s '48 11a* 112* 105 May 14* June 318 3d NewpNAOPlst5s'88MAN 104* NorthCent4*s.l025AAO 16 • a 117* 105* 108* Norfolk St 1st 5s '44. JAJ 16 14 30 16 '< 108 116 39* Juue30 ' 104* 108 00 07* Maryland Brewing 6s ... MetSt( Wash )lst5s'25FA New Orl Gas 1st 5s...Yar 00 Ter 1st 5s. 1026 JAD BergABBrewlst6s'31JAJ B Boro Gas 1st 5s.'38MAb Cambrialron 8s.l017 JAJ ChesAD Canlst5s.'16 JAJ 116 110 138 111 100 07 118 5 35 June 38 Jan. 10 1* Jan. 9 137* Jan. 4 118 Jan. 10 15o May 19 1 4* Feb. 6 330 Apr. 3 80* Apr. 8 770 Feb. 16 22* Feb. 9 63* June 18 01 Mar. 81 133 Feb. 3» 57* Feb. 3 04* May 18 18 Jan. 18 103* Mar. 39 140 Jan. 7 24* Apr. 4 6* Jan. 3 180* Jan. 11 30 Jan. 3 60 Mar. 37 48* Apr. 36 68 Mar. 18 Balls 116 116 113 Mar. 36* Jane Atl City 1st 5sg..'10 A Imp 6S.1901M&S 104* 104* No BaltDlv 5s. 1942 J AD 118 Ya 13* 00 Asphalt Co 0s 79* Income 4s 1040.... JAD YirgMld 1st 61.1906 MAS 113 LRookAFBlst7s.'05JAv 1104 785 870 96 898 5 Mar. 81 . • * « • 101 May 80 Jan. Bonds— Philadelphia Vy B ext 7s 1 1 AAO 188* Bit Conv'rtible5sl906MAN Central Ry 6s... 1918 JAJ Consol 5s.... 1933 MAN Bit A Imp 5S.1933MA8 Chas City Rylst 5s '83J AJ Chas Ry G A Bl 5s '99 M AS CharlCAA ext5s.l910JAJ CltyASub lst5s.l023JAD CltyA8ub( Wash) lst5s'48 ColAGrnvlst5-6.1917JAJ Consol Gas 6s. .1010 JAD 1030 JAD 5s Ga AAlalstpf5sl045AAO GaCar ANlstSs g. 1 020 J AJ GeorglaPlst5-6s 1022JAJ GaSoAFlalst5s.l045JAJ Greater Seaboard otfs.... May 11 Jan. 18 3 Jan. a 30 80* Alle . • 3 07* Apr. WestVaCAPlst6g.'llJAJ 113* 114 Wtl A Weld 5s. 1035 JAJ 110 130 i 5S.100OMAN BaltCPaslst5s.l011MAN 110 Bait Fundg Ss.1016 MAN Exchange 3*s.l03OJAJ Mar. June 36 8 9 3 BONDS Anaooetla Bait Belt 1st 4 Apr. 4 Mar. 81 Mar. 30 Baltimore—Conolu'd. West N C oon 6s. 1014 JAJ ne* { Bonds— Baltimore. 5s 100 A Pot Atl A Ch 1st 78.1007 JAJ 116* AtlG-Llghtlst5sl017JAD Atl Coast L ctf s 5s .JAD 2* 3100 {100 IowaDlv 4s. 1919 AAO 3103 ChloagoJuno5s.l915JAJ {110 111 Ch A No gu 5s. '31 MAN { 06 07 Chi A M gen 5s.'31 JAD {102* 103 Con. of Verm't 4s.'13 JAJ 86 88 Curr't Rlv 1st 5s.*27 AAO i 00* 03 D G R A 1st 4s.'46 AAO { 07 07* Domln Coal lst6s.'13MA8 111 Bast'n 1st M 6s g.'OO MAS 114* Fr BlkAM Y 1st 6s '38 end {135* Unst'p'd 1st 6s.'33 AAO {185 IUln Steel oonv Ss.'lO JAJ { 00 100 Debenture 5s. 1913 AA<' { 00 00* K C CA 8 1st 5s g.'25 AAO { 00* 03 K C Ft SAG 1st 7s.'08 JAD {115 K C F BAMcon 6a.*88MAN 111 K C M A B 1st 4s.. '34 MAS { 08 Income 0s 65 67 1st oon ino 8s g non-oum 8d oon Ino 3a non-oom. 3 1-. 14* June 86 25 5C rights ....< 78 8 33 13 Aug. 13 497 50 . . 1007 4*s Deb 140 " 8 Mining 85 U 8 P HorseCol. ( Phil)4 1 Utah Mining.. (Bost) -8.' Warwick I A 8. (Phil) 1C Welsbaoh Com! " 10C " PrefH 10C June 1,335 5 Rutland 1st 6s.. '03 MAN {108 Torrington 1st 5s 1018.. West Bnd St 5s. .'03 MAN {103 3 .'.'.'.' Jan. 30 70 3,631 Bid. 6s 3* 5( 81* * 35 AAO H10 * 43* NYANBnglst7s.'05JAJ {118* lstmort6s.. ..1005 JAJ H09* 41* 67* • 4s 1043 (Boston) 60* Apr. 35 Jan. 185 107 137 140 1,668 13* 430 351 980 43 58 600 50 Ask BONDS Boston— Conoluded. NewBng congen5s'45JAJ i 3* N H CotYarn 5s 1030FAA 1103* 104 60 B Gas A Cist 5s.. 1037 I 64 l* N New Bng Tele 6s.'00 AAO {100 3* 3* 35 35 85 Penn BleoVeh. (Phil) 60 " Pref 00 Pennsyl Salt... " 50 Pennsyl SteelH. " .... " PrefT 100 Quincy Mining. (Boit) 35 Rhode Is) Min.. (Boat) 85 Santa Tsabel G " 5 LB AStLlstSs . . Ask. 18* . . W A Mfg. t Bid. MISCBLL.— Concluded. NewBngGsAC 1(Bost) New Hav I A 8. (Phil) 5 NoAmGDredg(Bost) 10 Old Col Mining. " Osceola Mining. " Palmetto Co.... (Phil) ParrottSllACop(Bost) 197 ....100 (Phila.)... Feb. 14 16 19 Jan. 39 Apr. 4 70* Feb. 14* Mar. 40* 10* 87* May 365 01* May 80 94* Mar. 34 . . 1318 a* Mar II A Ont 6s.. .'25 u* Mex Cent 4s a.. 1011AAO JAJ 190 9 1* . Welsbaoh Light f 46 63* 83 a8-t 11-18 44* Jan. 70* June 35* May 550 15* Jan. 3* a* 8TOCKS -BONDS Gen '"a" " " 63* 805 West Bind Street Miscellaneous Stocks. Amalgamated Copperl (Boston). ...10C T. 29 1.10P " .... 50 (Boston).... 5( Amer. Agricul. Chemical 18 130* Aug. 80 20* Apr. 87 3,30 (Bait.) .... 50 2* Philadelphia Bled 3* paid (Phila.)... " 118* 112* 113* 113* 112* United Gas Improvement t.. ... (Boston)... 18 18* 18* United States Oil 18* 18* 2* { Cambria Iron.. (Phil) 60 (Bait) 100 Canton Co Osnten Mining. (Bost) 36 Franklin Min'g. (Bost) 85 10C Oensral Blect.. " 10C " Prsf 18* 18* 36* 24 80 " Dlam State Bt Domln Coal pf .(Bost)10( disonHI 111... •• 10( Hleo Co of Ami. (Phil) 6( '123* 125 11* ATASFgeng4s.'95AAO 130 5C Lehigh Coal A Navigation. (Phila.) .... 50 •0 " «* Marsden Col ....100 07* 07* New Bng. Cotton Tarn, pref.(Boston).,,.100 " 133* 123* New England Telephone. ... .... 100 " .... 35 18* 18* Old Dominion Copper 1 { I 4 H* United Ry A Bleo. Oo Preferred 34* 34* •53* Coal " 50 Winona Mlnlng(Bost) 85 Wolverine Min. " 85 • • • • I 50 ...(Boston).... 100 " ....100 paid. (Phila.).... 50 Preferred Jan. Apr. 8 Feb. 6 Apr. 19 Jan. 4 00 485 8 1-16 June30 10 0-18 Apr. 6 6.92C 34 0-1 6 Jan. 10 83* Apr. 5 •llttl 13 Jan. 10 17*Apr. S 5( .... .... .... 4 2 5 8 100 32 63* 85 77* Apr. Jan. 13 800* May Junes'; 7l3Apr. S Jan. 3 100 Aug. 80 7 303 8,175 171 8 Westm rel • • • s • 113 80 •06 51* 0* »* 97* 07* 3* U 8* • • S 16* 67* 12* 33* Un Shoe Maoh..(Bost) 85 " 5S* 85 Pref I* 2'. 755 •63* UnBiLAPowpf (Bait) 22* 57* " " Onion Traction, fl 7* 53* (Bost) 2E Arcadian 35 Arnold Mining. " " 36 Atlantic Min'g. " 36 Baltic Mining.. (Phil) 60 Beth Steel Boston BlecLt.(Bost)10C Pref Danv. Bessemer 18 , 1st preferred 2d preferred Union Paoiflc 8 05* Mar. 63* 35* 35* " July Jan. Jan. 36',658 10* 98 Pennsylvania Philadelphia Traotlon Reading Company . 817 16* 18* 57 57* 48* 42* ....10C .(Boston).. ..10C (Phila.).... 5C " .... 5C Ap?. 18 48* June 70* June i|c 00 " Preferred Old Colony 15 15 Jan. 32 10* Aug. 83 42 27 35 45 't May May 1.065 •143 10* ....100 (Bait.) .... 50 (Phila.) ....10C Mar. 12 Jan. American Alkali (Phila.).... 50 " .... 50 * Preferred, S10 paid ....... 130* American Sugar Refining 1 (Boston) .... 100 118 " ....100 Preferred* 145 Amer. Telephone A Tel. Co. t " ....100 10* Asphalt Co of America...,. . (Phila.) 10 paid 317 Boston A Montana (Boston).... 25 " 88* Butte & Boston .... 10 755 Calumet A Hecla " .... 85 16* Cambria Steel, S4* paid. ...(Phila.).... 50 57* Consolidated Gas (Bait.) ,...10C 4S* Dominion Coal ..(Boston). ...100 08 " Brie Telephone. ....100 116 818 63 753 500 " ,. 18 July 17 254 150 240 202* Jan. '38* Apr. May 1* Aug 121* 118 117 143 Mexican Central Northern Central Northern Pacific 31* July Mar. Mar. 10 9? 1* Highest Jan. Jan. Apr. Jan. ....100 ,...10t 75* 1* Lowest. 80 {3 86 338 05 t0O 341 188 187 1,105 110* 60) 131 8 133 46 90 345 30 873 110 159 23* 1,861 15 261 75 (Boston). ...100 (Phila.) .... 50 Massachusetts Eleot. Cos. T.(Boiton), ...100 '« Preferred! ....100 Tidewater St... " 10 Torrington"A"(Bost) 2! " Pref 25 Un Cop L A M'g " 85 67* 160 58 MI8CBLLANBOUB. Alloaei Mlnlng( Bost) 8t 38 76 of Sales in 1900. Shares Fltohburg, pref Lehigh Valley 20 80 00 N.(Phll) Rys Co General! " ... Beaboard w. i. (Bait) .... " .... Pref w. 1 United N ... (Phil) 100 " 86 UnPowA Trans United Tr of P. " 00 " Pref 00 West Bnd pref.(Bost) 50 .1 80 139* •139 88 36 76 315 63 758 Week. . 88 •35 75* 1* of the H Indicates unlisted. Amerloan Railway! 1 (Phila.).... 50 Boston a Albany (Boston). ...100 , Boston Elevated, full paid.. " ....100 814 Boston * Lowell " 844 ....100 190 100 Boston A Maine " 100 ....100 ,. 125 Chio. Burl. A Qulnoy " ....100 125* 135 •130 140 Chic Juno. A Un. Stook Yds. " 130 ....100 135 ,..••• Preferred " ....100 '39* 80 Chootaw Oklahoma A Gulf. (Phlia.> . ... 50 30 " 40* 40* 40* Preferred .... 50 8uaquel ASH.. (Phil) 6 2* Tamarack Min. (Bost) 35 818 880 TelepTelAC.(Phil).... • • • 100 FtS AM..(Bost)100 Pref. Phil Germ < • • s a t * 140 87* 88 35 ... sale Bid. Ask. INACTIVE BAILRO ADS. —Prices Aug. 31. Atl it Charlotte(Balt) 100 165" Bos it Maine pf.(Bost) IOC 160 Boston* Pro v. " 100 308 " 14 100 14* Central Mass... 63 " 100 Pref 165' OoimAPassum " 100 163 Conn Rivpr.... " 100 270 25 OontolTrPittsl(Phll) 50 " 50 PrefT «a South A Fla.(Balt) 100 'Vd' to " 98 100 1st pref " 100 • • • 3d pref 50 Pass(Phll) • s • « G'rmant'n Hestonv 125 63* 63* w» made. •63 Bldtnd askedprlcet 0* •48* 48 '148 04 •06 08 *97 •••••• ' 57 41* 42 07 *••'•« 97* 133* 125 '133* 135 133* •183* 126 18 17* 18 18 18* IS* 18 8* 2* 3* 2* 2* 8* 3>i IT8 118 112* 118*113). 113 118 •18 10 18* •18* 19 18 18* •48* 815 63 *08 33* 33* 53* 53* 0* 0* 54* 0* 140 •••••• 16* "16* 58* 41* 41* •••••• 41* 41* 96 315 64 750 311 315 68 750 311 63 750 83 348 04 118* 120* 118* 110* 119* 120* 120* 116 116* 116 116 116 116 116* 148* 143 143* 143 143* 143* 143* 143 10* 10* •10* 10* 10* 10* 10* 10* 10* 117 848 04 181* 133 •116 •143 848 ACTIVE STOCKS. Railroad Stocks* 180* 95* 35* 25 21* 34* 84* 76* 76* •76 11* •U* 11* 87 88 88* 87* •51 50* 50* 5lk 71* •71* 7'* •71 904* 805 •303 805 64* 64* 64k 84 100 100 00* 100 8* BM 8 5-16 38* 13-16 88 11-18 14* 14 14* 14 00 50* 50* 50 •76 76* 76* 76* 38* 36fc 86* 86* 16* 16* 139*130* 139 25* 25* 25* 33* 33* 81 76 76 76* I'* Hk •11* •86* 87* Aug. 31. •33 38* 88* 1 1 i Friday, Wednesday Thursday, Aug. 29. Aug. 30. • •••1 110 107 101* 83* 190* 108* • •••» 1*111 sttt* 197 199* 198 US* ioe* 107 104* 194* 109 "87* 88 108 111 ...» tl*« 117 114 tfl-50 •Pries includes ovsrdns eospo • HI ttl ... .. September THE CHRONICLE. 1, 1900.] 433 %wzstmmt awtf fgtailrxrail %n\z\Xx%mtz. RAILROAD EARNINGS. The following table shows the gross earnings of every Steam railroad from whioh regular weekly or monthly returns can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two oolumns the earnings for the period from January 1 to and including snch latest week or month. The returns of the street railways are brought together separately on a subsequent page. Latest Gross Earnings. ROADS. Week or Mo Jan. I to Ourreni Previous Current Previous Tear. Tear. Tear. Tear. 9 $ Latest Gross Earnings. Latest Date. Roads. Week or Mo Ourreni Tear Jan. 1 to Latest DaU. Previous Current Previous Tear. Tear. Tear. 8 8 • 17,242 86,672 65,216 3d wk Aug 40,813 1,2£ 0,040 1,052,358 Ala. Gt. South.. Istwk Aug 11,845 375,493 339,049 Ala. Midland... 3dwk Aug 497,500 17,265,209 15,523,836 Ala.N.O.ATex. July 4,492 6,951 47,784 26,000 1,117,217 27,000 948,059 35,306 N.O.AN.E... July 10,727 9,974 74,921 427,476 11,000 11,000 407,012 52,255 Ala. AVicksb. 363,514 8,000 9,000 372,568 t Mexican Cent. 3d wk Aug 276,580 263,692 11,132,303 9,546,449 Vloks.Sh.&P. 409,042 393,908 3,081,068 2,669,700 298.335 306,732 1.935,087 1,750,896 Mexioanlnter'l. July Allegheny Val.. July 27,824 29,848 1,054,827 987,413 {Mex. National 3d wk Aug 133,030 123,337 5,094,693 4,388,531 3d wk Aug Ann Arbor 66,586 260,427 4.577 56,240 28,548 19,0o9 Mex. Northern. May 4,832 855,059 An.Was.ABaL. May WkAug.ll 82,200 2,855,000 2,799,400 7,398 48,925 88,900 7,485 60,938 {Mexioan By Ark. Midland... June 2d wk Aug 15,036 540,386 3.697.051 3,242,426 26,400,931 22,668,294 Mexican So... 13,883 484,848 Atoh.T.AS.Fe. July 68,521 48,013 164,190 171,470 1,192,295 1,053,445 Mid land Term'l June. Atlanta & Char. June 54,698 50,084 1,725,799 1,649 08O 38,821 236,951 214,134 Minne'p.ASt.L. 3d wk Aug 34,286 Atl. Knox.ANo July 340,563 80,529 82,964 2,979,582 2,550,698 47,085 45,499 297,675 M.St.P.AS.StM 3d wk Aug Atlanta* W. P.. June 247,144 7,187,224 6,654,878 15,106 10,209 122,479 54,737 Mo. Kan. A Tex. 3d wk Aug 258,588 At.Vald'staAW July 607,000 533,000 17,929,032 16,235,087 12,830 62,779 53.094 Mo.Pao.AIr'nM 3d wk Aug 11,004 Austin AN' west May 28,00* 32.000 818,518 11,719 10,407 65,027 58,503 719,283 Central Br'oh. 3d wk Aug Bait. A Lehigh. June 3d wk Aug 639,000 561,000 18,747,550 16,954,370 Total Bait. A Ohio.. 3,542,931 3,300,835 24,825,371 20,374,395 July 2,292 1,679 83,421 45,930 Mob.Jao.AK.O. Wk Aug.25 B.AO. Sou'w. 618,169 110,543 486.821 Mobile A Ohio.. July e483,200 C48O.7O0 e3,374,194 e 2,756,971 86,797 Bang'rAAro's'k June 10,830 115,381 102,088 813,084 1,630 10,907 MontAMex G'f July 1,659 738,460 BathAHam'nds June 26,686 16,094 Nash.Ch.A8tL. July 547,759 484,807 3,780,669 3,368.087 2,318 2,055 Bellefonte Cen. July 16,970 341.249 310.546 Nevada Central June 4,205 1,918 65,273 59,390 10,709 Brunsw'kAWst June....... 108,000 4,580,047 4,435.407 30,611,829 28,154,275 .92,529 3,528,403 2,342.747 N.Y.C.AH.R.. July Bnff.R'oh.APltt 3d wk Aug 110,020 107,991 3,051,375 2,935,611 44 070 837,752 407,782 N.Y.OntAW.. 3d wk Aug 55,290 Buffalo A 8usq July 185,765 221,970 94,438 99,302 2,859,997 2,828,377 N.Y.Susq.AW. July Bur.C.Rap.AN. 3d wk Aug Canadian Pao.. 3d wk Aug 587,000 550,000 18,361,968 16,709,987 Norfolk A West. 3d wk Aug 291,088 232,137 9,1€0,020 7,571,670 104,495 598,515 614,115 4,398,409 3,762,309 97,149 3,763,325 3,324,716 North'n Central July Cent, of Georgia 3d wk Aug 312,036 339,851 North'n Paoiflo. 3d wk Aug d630,574 577,756 dl8304t>72 15,815,463 55.774 64,508 Central N. E.... June 3d wk Aug 35,290 31,895 861,898 1,309,234 1,312,338 8,698,825 8,083,798 Ohio River 677.185 Central of N. J. July 46,799 402,954 49,911 1,420,707 1,412,911 6,736,941 6,380,909 Ohio Southern. June 346,224 Central Paolrta. May 395,222 Oreg.Sh.Line... June 49,452 407,306 794,186 711,182 4,158,620 3.604,864 64,394 Charlest'n&Sav June 1.933 64,467 48,133 Pao. Coast Co... April 366,348 407,334 1,462,306 1,493,519 Chattan'gaSo.. 3d wk Aug 1,553 June 296,113 1,942,820 1,815,303 289,834 246,177 8,574,581 7,540,826 Paoiflo Mall 298,279 Ches. A Ohio.... 3d wk Aug 751,596 543,705 6,790,095 6.081,695 47,611,406 39,230,606 Chlo. A Alton.. July Pennsylvania} July 3.907,297 3,850,278 25,931,040 23,927,509 Pere Marquette 3d wk Aug 150.235 4,966,822 4,430,562 168,671 Chlo. Bar. AQ.. July 524,544 110,199 118,528 3,195,194 2,922,479 Peo. Deo. A Ev. 4thwkJuly 23,161 25,610 Chlo. A East. 111. 3d wk Aug 464,332 126,871 Chlo. Gt. West'n 3d wk Aug 559,585 512,845 2,634,508 2,171,141 132,630 4,158.545 3.732,572 Phila. A Erie... June 74,582 Chlo.Ind.AL... 3d wk Aug 941,778 897,478 6,380,889 5,892,489 83,132 2,556,778 2,282,873 Phil. Wilm.AB. July Chlo.Mll.ASt.P. 3d wk Aug 836,471 1,466 385 1,502,171 10,849,899 9,618,431 761,130 24,801,881 23,617,459 Pltts.C.C.AStL July Chlc.AN'thw'n. July 3,581,564 3,692,275 23,647,612 22,191,650 Pitts.Bes.AL.E. 3d wk Aug 47,544 46,500 1,389,792 1.009,128 Ohlo.Peo.A8tL July 18.258 18,813 Pitt. Ch.AY'ny. June 90,174 685,407 798,248 103,658 8t.L.C.ASt.P. 29,003 4,809 4,088 22,854 Pitts.Lisb.AWn June 2.001.490 1,772,530 10,994,732 9,602,053 Pitts. Sha.ANo. April Ohlo.R'kl.AP. June 179,692 43,873 Chlo.8t.P.M.AO July 733,425 875,196 5,235,147 5,471,062 Pltts.AWest'n.. 3d wk July 35,206 38,388 1,197,707 1,042,39*5 26,396 Ohlo.Ter.Tr.RR 3d wk Aug 790,768 20,002 21,104 698,046 817,527 25,123 544,396 Pitta. CI. ATol. 3d wk July Choo.Ok.AGuli 3d wk Aug 62,256 10,662 266,591 10.110 26,485 223,389 Pitts. Pa. A F. 3d wk July Oin.N.O.AT.P. 3d wk Aug 82,265 82,949 3,200.568 2,873,411 66,816 6S.997 2,536,776 2,123,869 Total system 3d wk Aug Cln.Ports.AVlr July 35,423 207,993 167,711 Reading Co.— 28,540 Cl.C.Ch.A8t.L. 3d wk Aug 319,61b 303,469 10,438,381 9,101,319 Phil. A Read. May 2,329,242 1,899,702 10,699,751 8,989,929 Peo. A Eaet'n. 3d wk Aug 32,800 39,646 1.475,903 1,208,771 Coal A Ir. Oo. May 1,817,801 1,449,570 8,916,958 9,087,149 CI. Lor. & Wheel. 3d wk Aug 39,019 39,917 1,370,706 1,099,015 Totboth Co'8. May....... 4,147,043 3,349.272 19,616,709 18,077,078 Col. Midland.... July 174,177 147,811 1,281,259 931,831 Rlch.Fr'ksbAP. June 544,353 108,046 104,059 482,174 Colorado A So.. June 375,611 325,834 2,043,879 1,804,507 Rio Grande Jot. June 243,139 50,996 38,603 174,900 Col.New.&Lau. June 10,920 79,224 Rio Grande So.. 3d wk Aug 32.7,497 89,589 10,205 10,039 11,101 287,958 Col.Sand'yAH. 3d wk Aug 17,959 479,596 Rio Gr'de West. 3d wk Aug 74,900 2,894,252 2,172,843 704,875 91,700 19,072 Cornwall ALeb. June 26,816 752,856 107,832 8t. Joe. A Gr. I. ithwhJuly 42.609 20,103 153,887 35,755 740,305 OumbTd Valley June 98,881 S 5,551 410,823 St.L.Ken'etASo July 466,907 9,001 86,887 8,051 52,939 Denv.ARloGr.. 3d wk Aug 227,600 174,800 6,554,378 5,640,721 St.L.Van.AT.H. July 157,901 1,086,741 157,702 994,161 Denver ASo'w'n May 209,988 796,799 St. L. AS an Fran 3d wk Aug 182,720 160,357 5,080,752 4,525,983 183.516 1,049,494 Det.AMackinae June 88,920 360,564 StL. Southwest 3d wk Aug 113,867 477,177 105,791 3,481,038 3,352,021 66,573 DuluthS.S.AAtl 3d wk Aug 51,588 625,891 56,663 1,651,729 1,443,181 StPaulADul... May 137,939 154,461 637,279 E. St. L. A Car.. July 12,645 79,493 San.Ant AA.P. May 722.310 136,508 11,920 93^945 147,889 662,037 ElglnJol.AEast July 152,491 528,629 99,645 153,658 1,144,195 1,016,322 SanFran.AN.P. July 103626 513,997 July 3,215,008 3,302,533 21,154,226 19,749,126 S.FePres.APh. 2dwk Aug 19.049 627,808 17,010 552,862 Ev'ns.AInd'piis 3d wk Aug 7,086 219,130 8av.Fla. AWest. June 203,467 8,495 416,063 375,036 2,409,892 1,940,343 Evansv. A T. H. 3dwk Aug 32,273 856,942 Sher.8hrev.A8o 3d wk Aug 222,484 5.649 34.298 873,157 193,128 8,066 Find. Ft. W. AW. July 8,345 142,929 59,514 Sil.Bprs. O. AG. June 55,6.8 28,310 10,455 20,617 161,536 Fla.Cent.APen. 3dwk Mar. 50,157 556,476 So. O.A Ga.Ext. July 147,125 15,720 49,832 581,986 18,742 126,259 FfcW.ADen.C July 143,033 114,332 839,727 So. Haven A E.. June. 20,519 871,427 4,222 5,499 15,973 FtW.ARloGr.. 3d wk Aug 5,778 99,947 *S5,172 So. Miss. A Ark. July 273,307 10,516 6,758 18,391 65.614 Gads.AAtt.U.. July 1,411 5.383 So. Paoiflo Co. b. June 1,096 8,599 5,085,410 4,824,440 29,977.858 27,571.524 Georgia RR 3d wk Aug 27,105 970,698 Cent. Paoiflo.. May 25,890 1,031,536 1,420,707 1,412,911 6,736,941 6,380.909 Georgia A Ala. June 93.236 583,820 88,519 645,476 Gal.Har.A8.A May 513,016 560,168 2.550,491 2,350,257 Geo. So. AFla.. July 99,002 560,089 566,135 Louis'a. West. May 597.625 92,852 693,515 107,682 109,694 GllaVal.G.AN. June 37,303 May 216,126 34,466 192,807 Morgan'sLAT 552,843 570,536 2,742,727 2,815,317 Gr.Tr'nkSyst'm 3d wk Aug 489,295 102,669109,298 466,744 14,074,753 13,251,748 N.Y.T.AMex. May 22,329 20,524 Det.G.H.AM. 2dwk Aug 20,966 575,730 Tex. AN. Orl.. May 830,356 798,058 23,102 573,362 172,980 164,485 GreatNorth'nMay So.Pao.ofCal. 1,390,265 1,270,487 7,041,849 5,903,129 8t P. M. A M.. July 1,723,399 1,819,263 12,242,461 10,714,868 So.P'o.ofAriz. May 302,565 301,697 1,632,874 1,454,50a East of Minn July 366,256 861,478 274,245 2,026,449 1,379,986 May 824,501 So.PacofN.M 177,927 174,441 Montana Oem July 174,192 172,522 1 ,096,444 1,082.756 Southern Ry.... 3d wk Aug 606,536 579,513 19,592,903 17,405,5 OS Tot. system. July 2,263,847 2,266,030 15,365,354 13,177,610 StonyCl.AC.Mt June 10,482 11,234 4,807 3,408 GlfB'mntAK.C May 113,223 TerreH.AInd.. July 22,571 25,675 109.473 902,751 807.98O 122,924 132,749 Hooking Valley 3d wk Aug 101,063 86,998 2,879,485 1,999,230 TerreH.APeor. July 269,033 228.357 47,702 38,597 HonB.ATex.Ceri May . 234,320 231,710 1,339,161 1,268,497 Texas Central. 2d wk Aug 200,283 161.947 5,894 7,972 Illinois Central. July 2,528,975 2,381,790 18,759,978 16,096,725 Texas A Paoiflo. 3d wk Aug 133,836 5,033,200 4,70 1 036 139,211 Ind.Deo. AWest April 174,734 Tex.S.V.A N.W. July......! 53,410 45,244 55,380 214,536 7.01S 35,668 8,800 Ind.ni. A Iowa. May 425,121 Tol.AOhioCent 3d wk Aug 99,535 86,102 496,906 39,295 1,584,809 1,182,870 46,242 I*.AGt.N'rth'n 3d wk Aug 64,895 71,433 2,175,065 2,226,138 Tol.P.AWest.. 3dwk Aug 22,805 681,364 600,780 20,921 llnteroo. (Mex.) Wk Aug.li 72,800 69,900 2,497,200 2,413,300 Tol.8tL.AK.C. 3d wk July 42,036 965,729 1,038.170 37.225 Iowa Central... 3d wk Aug 41,608 52,241 1,352,476 1,351,830 Union Pao. RB.. June * 1,898,383 1,762,754 10,531,82f 9,296,184 Iron Bail way... July 33,004 Wabash 4,844 5,403 41,134 3d wk Aug 348,425 334 279 10,135,930 9,219,121 Kanaw'aAMlch 3d wk Aug 400,241 W.J'rseyA8ea'e July 16,407 12,519 515,550 465,581 412,781 1,866,733 1,637,035 K.O.F.So'ttAM. 3d wk Aug 107,614 110,357 3,506,379 2,990,056 W.V.Cen.APltt May 515,63i> 592,667 133,714 116,004 K.C.Mem. A Blr. 3d wk Aug 888,252 Western of Ala.. June 30,680 23,991 1,066,275 323,293 364,382 49,634 54,045 Kan. O.N. W.. July 177,509 WestN.Y. A Pa. 4thwkJuly 114,100 119,000 2,075,550 1.938.05S 31,553 27,348 213,439 Kan. City A Om. 4thwkMay 92,586 Wheel. A L. Erie 3d wk Aug 7,855 6,252 97,350 35,028 35,201 1,221,518 1,013,494 Lehigh A Hud.. July 449,22.-> 283,325 88,751 40.618 278,267 528.831 Clev.C.ASo.. 3d wk Aug 16,763 19,048 Lehigh Val.RR July 2.030,106 2,339,894 14,152,370 2,716.164 TotaL 3d wk Aug 51,964 1,739,827 1.462.71& 54,076 Lsh. V.Coal Oo. July 1,704,216 1,576.910 10,220,481 9,534.010 WlsoonslnCent 3dwk Aug 103,050 108,221 3,356,378 3,301.803 Lex'gton&East June 72,8501 113.682 Wright8V.AT*n. July 35,135 22,477 170.417 90,967 10,734 11,373 LonglslandRR July 562,957 569,801 2,519,578 2.476,946 YazooAMiss. V. July 296,423 321,463 2,609,863 2,473,724 Long Is. System July 37,200 639,849 641,260 2,634,120 2,625,502 York Southern.. June 42,774 6,415 7,438 Adirondack June 3d wk Aug June Pao. Juno 1 stwk Aug Istwk Aug Istwk Aug 14,927 42,977 76.894 13,355 40,771 79,629 89,666 1,255,210 481,948 91,197 1,167,233 400,507 Los Aug. Term. Louis.Ev.AStL Lou. H. A St L.. Louis. A Nash v. Maoon ABirm.. Manistique July... 19.505 42,063 12,372 483.145 Me * t ", * 8 m jTme x "ra t0T th« railroad only, ^S?^? uioiudes"J2. Chesapeake i Mexican ourrenoy. § "emits on Montgomery Division are inolude*in 1900, but not for 1899 St. Paul A Duluth from July 1, 1900. a Includes Covers result* of linee directly operated east of Pittsburg. A Ohio So'western, Ohio Valley and Chioago and Texas for both years. A Northwestern, the San Antonio A Aransas Pass or Houston A Texas Central system. i! e8, not include the Austin .. ..... Latest Wross Earnings by Weeks.—The latest weekly earnings in the foregoing are separately summed up as follows: For the third week of August our statement covers 63 roads and these show 6'98 per cent increase in the aggregate over the same week last year. Increase. 1899. 1900. 3d week of August. 9 Alabama Gt. Southern 42,977 27,824 . Ann Arbor Buffalo Roob. A F1tt»b' Burl. Ced. Rap. A North Canadian Pacific ....... Central of Georgia. 108/0 94,438 587,00< Chattanooga Southern Ohesapeake & Ohio Chicago A East. Illinois Cue. Great Western... A Ohio. Ind'plls Louisv. Chicago Mllw. & St. Pan Ohio. Term. Transfer Choc. OMa AGulf... & Tex. Pacific Cln. N. O. 0>t. Cln. Ohio. St. J. & A 101,49 1,933 289,83 110.1^ 126,871 74,58 836, '71 26.396 62,25 Denver A Rio Grande Duluth So. Shore A AtJ Evansv. A Indianapolis Evansv. A Terre Haut* It. Worth A Rio Grande 227,6 51,588 7,086 32,27 5,7-8 '< Georgia 27,1 Grand Trunk &M 4*9,29 101/ 63 64,89 41.60P 16,407 107,614 30,680 42.0*3 Det. Gd. H. Hooking Valley A Gt. North'n Iowa Central. ..... .. Kanawha & Michigan Kan. City Ft. S. A Mem. Kan. City Mem. & Blrm Interna Lonlsv Evansv. St. <fc Louisville & Nashville Mexican Central....... Mexican National. .... 483,145 2?6,5*< 133,03 54,698 Minneapolis & St. Loni Minn. St. P. & S. Ste. M Mo Kansas & T*»xas... Mo. Pacific A Iron Mt. Centra] Branch Mob. Jackson & K. City. N. X. Ontario A Wesien Norfolk A Western..... Northern Pac-fio Ohio River Pere Marquette Pltteb. Bess. A , A Western.... Rio Grande Southern... Rio Grande Western.... St. Louis A San Fran.... Bt. LodIb Southwestern A So. Southern Railway . ....... A Pacific Toledo A Ohio Central.. Toledo Peoria A West'n Wabash Wheeling A Lake Erie. Olevel'd Canton A So. Texas Wisconsin Central...... Total (63 roads) Net Increase (6 98 9,233,991 n. 898 1,113 52,80i "5,075 1,409 2,0 ib 980 1,215 23, 91 "6.689 40,813 447,500 263,692 123,337 50,084 1,250 1,749 107,9»1 232,137 577,756 31,89 606,5 6 139,211 46.242 20,921 348,425 35,0/8 19,048 103,050 6,846 22,551 2,5 la 182,72< 113,<?67 «,066 684 16.147 466,744 86,998 71,433 52,v4 12,519 110,357 8>.96l i 75,341 1.273 35,77. 25,89. 247,144 5d3,00 28,000 V 8,329 5,759 8,550 39,9 ^ 19,"7174.800 56,663 8,495 34, 9«,758 80,->2t' 110,020 29 ,088 630,57 90 3 168,671 47,544 66,816 11,101 91,700 3»0 43,657 39,«4' 258,58h 6 <7,OP0 32,000 1 L. Erie.. Sherman Shreve. 0.^ 37,000 7,346 13^,630 83.132 761,13 2.% 123 14,065 6, c 3* 10,633 3,888 "2,743 14,355 12,888 9,693 4,614 "2,435 li,444 74,000 4,000 764 2,029 58,951 52,818 3,395 18,436 1,014 15 f ',235 46,500 68,997 1",205 74.900 160,357 105,791 5,649 579,513 133.836 39.295 22,805 """896 334,<:79 14,i46 35,2oi 16,763 108,221 "2,285 2,181 16,800 22,363 8,076 2,417 27,023 5,375 6,947 94,669 For the second week of August our final statement covers 68 roads, and shows 8*25 per cent increase in the aggregate over the same week last year. 2d week oj August. 1899. 1900. Increase. S Previously rep'd(60 r'ds) Burl. Ced. Rap. A North. Chattanooga Southern. . 8,961071 87.137 2.158 72,800 88,^-00 Santa Fe Pres. A Phoenix. Sherman Shreve. A Total (68 roads) Netlnoreaee 8 2 5 So... . n. o.l.. 13,«83 17,010 6,876 7,972 9,257,807 .... $ 8,265.572 87,826 1.6 7 769,807 """481 2,900 6,700 69 900 82,200 15,036 19,049 Decrease. 9 74.308 689 1,153 2,039 5.471 5,894 1,40- 2,078 8,552,625 783,371 705.182 • 78,189 Net Earnings Monthly to Latest Dates.—The table following shows the gross and net earnings of Steam railroads reported this week. A full detailed statement, including al' roads from which monthly returns can be obtained, is given onoe a month in these columns, and the latest statement of this kind will be found in the Chronicle of August 18, 1900. The next will appear in the issue of September 22, 1900. -Gross Earnings. Current Year. Roads. Prexnous Year. — > — Net Earnings. Current Previous Tear. Year. 9 — Alabama Gt. So'th.aJuly Roads. Gross Earnings. Current Previous « Year. $ 59 389 -, Previous Year. Year. 9 9 65,273 27,965 42,615 341,249 810,515 117,874 89.621 701.110 631,211 237,423 172 046 475.686 268,673 197,666 77,149 Jan. 1 to July 31 3.209,7*9 2,065,161 1,441,054 731,742 Canadian Pacify .a. July 2.471,170 2,385,625 884,374 972,962 Jan. 1 to July 31 16,638.968 15,073,987 6,162.321 5,995.215 Cent, of GeorgiH a June 371,061 407,600 75,755 64.795 Jan. 1 to June '-*0 2,918.856 2,613 642 778,081 628,527 July 1 to June 30 6,086,264 5,767,346 1,879.868 1,800,634 Cent, of Georgia. a. July 523.084 428.702 153,573 124,104 Jan. 1 to July 31 3,441.940 3,042,344 931,654 752,631 Char. & Savannah, ts June 49,452 64,394 def.5.112 40,266 Jan. 1 to June 30 ... 407.306 39^.222 99.869 133.309 July 1 to June 30 676,550 669,301 120,146 146,973 Obeeap. A Ohio a.. July 1,198,633 1,051,155 485.605 350,869 Jan. 1 to July 31 7,732,407 6,802.295 2,381,298 2.106.144 Ohio. Burl. &Qti>n.r July 3907.297 3.850.278 1 317,454 1,359.733 Jan. lto July 31. .. .25,931,040 23.f27.509 8.458 658 8,339,825 Olio. M. &8t. P a. July 3,220.327 3.384,476 1,161.091 1,140.058 Jan. lto July 31... 22,518,670 21.364,760 6,456,8*4 6,983,613 Oln. N. O. & T. P. • .July 421,786 397,663 107,500 142.912 Jan. I to July 31 ... 2,940,753 2,618,142 723,913 858,259 Ol.Oio.ehic.&St.L.aJuly 1.362,646 1,254.798 356.249 340,500 Jan. 1 to July 31 9,492,787 8,190,912 2,603,740 2,150,144 Pftorta&East'T) a. July 170.870 165,823 41,475 43.629 Jan. lto July 31 1,369,218 1,089,»>33 458,348 269,508 Denv. &RioG'<^ b.July 952,553 708.453 839.074 275,923 Jan. 1 to July al 5,881,278 5,105,821 2,044.092 1.791,t»09 Brte.a.... July 3,215,008 3.302.533 940.914 914,570 Jan. 1 to July 31 .21,154,226 19,749.126 4,987,796 4,506,227 FlndlayFt.W.A w b June 105'5 7.701 241 def.166 Jan. 1 to June 3o 47,283 49,059 6.556 def.5,210 July 1 to June 30 ... 116.226 98 995 15.845 6,135 P"t.W. A Den.ClM .b July 143,033 114,332 36,830 18,244 Jan. 1 to July Si... 871.427 839,727 168.757 167,051 Georgia. a July 122,434 116,979 23.073 21,254 Jan. 1 to July 31 .. 947,254 892,885 264.992 249,179 Hocking Vallev a.. July 386,874 315 783 154,845 124,494 Jan. 1 to July 31 .. 2.594,448 1,750,664 1,028,527 660,067 Lehigh Valley RK.aJuly 2,030,106 2,339.894 273.871 625,224 Jan. 1 to July 31. ...14;i52;370 12.716.164 1.878 941 2,120,829 Deo. lto July 31. ...16,239,764 14,613,627 2,286,b98 2.471,519 Lehigh V. Coal « ".ajuly 1.704.81 1,576,910 df.ll"\311 def.45,613 Jan. lto July -1.. 10,2*0,481 9,534,610 df.573.6>4 di.305,810 Deo. lto July 31.... 12,046,548 11,317.200 df.557,394 df.d88.115 Mex International. July 409,042 393,908 146,103 183,730 Jan. 1 to July 31.... 3,081,068 2,66»,700 1,229.842 1,169 038 Midland Term'l. .. June 68,521 48,013 28,732 19.346 Dec. 1 to June 30 ... 430.317 303,853 197,941 130,452 Minn. A St. Lonts.a. July 251,296 240,160 89,021 80,600 Jan. 1 to July 31.... 1,567,195 1,499,272 581,946 510,971 Srunswiok AWest.b June Jan. 1 to June so July 1 to June 30 Buff R.&Pittbs. b.July x". Bus. A West.a.July Sortbern Central. b.July Jan lto July 31 .. Ogdens. & L. Chxmpl.b— N. "5,1*71 <V — — Net Earnings.— Current — Year. Apr. 1 to June 30.... Jan. lto June 30.... ""'i'73 697,454 602,785 . New London Northern- 1,884 8.631,206 [Vol. LXXI. . *4,864 99 302 303,469 9 15,471 SSO.Ot* 97, 49 1.5^3 246, 77 118,5V 8 319.6U Decrease. "2,024 9*529 26,48' 82,94V 39,oi 17,959 a 2,206 40,771 29.848 82,76f. 3 f,800 Eastern Clev. Lorain A Wheel'g Col. Sandusky A Hock'? Pittsburg 6 . THE CHRONfCLR 434 Peoria — > . 149,685 157,066 35,321 52.079 1,139,968 1,053,568 Jan. 1 to July 31 29b,016 293,t)»8 7 6,894 79.629 14,302 Alabama Midl'nd bJiuio 30,070 481,948 400,507 86.314 Jan. 1 to June 30.... 45,617 949,651 835,011 201,326 July 1 to June 30 136,676 '298,335 88.R18 306,732 Allegheny Valiev. b.July 121,303 566,541 Jan. 1 to July 31 .. 1,935,087 1,760,896 647,225 Atoh T.& B. Ft- t»*. July 8,697.051 3242,426 '1,322,471 1980,111 Jan. 1 to July 31. ...26,400,931 22,668.294 f 10690369 t7,497,648 2,318 2,055 621 Belief onteCemral.. July 147 26,686 16,094 8.479 Jan. 1 to July 31.... 2,501 Apr. 1 to June 30.... Jan. lto June 30.... 227,356 233.830 37,257 450.892 453,208 86,361 185,765 221,970 76,770 698,515 614,115 142,632 4,398,409 3,762,309 1,135,316 155,299 269,707 149.539 282,831 48,937 76,924 33,956 62,318 99,417 166,432 819,716 19.975 45,356 PennsylvaniaLines directly operated East of Pitts * E.July 6,790,095 6,081695 2,214,431 1,831,131 Jan. lto July 31 ...47,611,406 39,230,606 14,457,881 10,314,481 Deo. West of Pitts ft F.July 52,900 Deo. 277.200 Ino.3,665,800 Jan. lto July 31.... Inc. 512,300 Phil. Wllm. A B»lt.bJuly 941.778 897,478 304,931 302,034 Jan. 1 to July 31 ... 6,380,889 5,892.489 l,791.8tf4 1.693,894 Nov. 1 to July 31 8,292,151 7,557,651 2,441.793 2,193,293 aioh Fred. & Pot June 108,046 104,059 24,106 29 644,353 Jan. 1 to June 30.... 482,174 224,247 176,773 993.252 July 1 to June 30 898,260 421,202 326,058 109,466 St Job. & Gd. I s>. a. July 132,078 41,«10 35,233 752,856 Jan. 1 to July 31 ... 740,305 153,577 155.622 st.lx»nis&8anP' b.July 712,433 561,945 294.632 193,798 4,541,225 4,082.231 1,782.818 1,544.826 Jan. 1 to July 3i 467,835 St.Louls So'west b.July 428,143 1161,122 U019U Jan. 1 to July 31 ... 3,153.192 3,050,870 1979,445 1837.610 416,063 8av. Fla. & West b. Juno 375,096 175.000 205,237 Jan. 1 to June 30 .. 2.40J.892 1,940,343 739,644 506,002 July 1 to June 30.... 4,491,760 3,992,196 l,2t9,.06 1,022,677 20,617 811v.Sp.Ooala*« bJune 28,316 18,438 2,674 142.929 Jan. 1 to June 30 ... 161,536 74,384 100 935 30 ... 281.001 300,939 July 1 to June 156,159 182,058 Southern RailWv.aJuly 2.530,351 2,279,165 659.529 643,105 Jan. 1 to July 31 . 17.829,0»7 15,723,231 4,614,927 4,519.075 211,251 Toledo <feO. Cei'.a.July 168.886 59391 57,934 Jan. 1 to July 31... 1,483,4^1 1,068,305 424,988 297,357 Troy & New E- gland6,442 6,586 Apr. 1 to June 30... 401 480 Ulster & Delaw urn127,261 108.045 Apr. 1 to June 30..., 22,875 30,318 216,272 180,014 Jan. 1 to June 30 .. 48,425 41,867 July 1.350.105 1,273,185 Wabash.b 350.708 304.084 Jan. 1 to July 31..., 9,141,437 8,268,037 2,361,800 2,301,753 465,581 412,781 168,462 177,962 W. Jersey&SeBf h.bjuly 461,994 439,494 Jan. 1 to July 31 .., 1,866,733 1,637,033 a Net earnings here given are after deduotlng taxes. b Net earnings here given are before deduotlng taxes. allowing for expenditures for betterments, net in t After 1900, was $130,438, against $76,108 In 1899. July, * Figures for Julv, 1900 and 1899, Include operations of the San Francisoo A San Joaq/iln Valley Ry. and rentals amounted to $163,274, against t For July, 190 ). taxes $154,649, af'er deducting which net for July, 1900, was $1,159,197, against $325,462. . .. September H .. THE CHRONICLE. 1, 1900.] Interest Charges and Surplus.—The following roads, in addition to their gross and net earnings given in the foregoing, also report oharges for interest, &c, with the surplus above or deficit below those oharges. r-Bal. of NctEam's.— Int., rentali, etc. > , Current Previous Tear. Year. 9 9 Road* Current 3,338 825,000 239,501 33,750 203,910 72,283 Clev.Cln.Ch.ASt.L.July Peoria & Eastern July A B. Grande ..July July Hookins: Valley New Lor don Nor' hern— Apr. 1 to June 30.... Den. 62,142 8,750 32,095 A Toledo A Ohio Cen.. July Gr. Isl'd.. July Previoui Year. « def.23 544 Bellefonte Central July Jan. 1 to July 31.... Ohio. Burl.AQuinoj July St. Job. J . . Year. * 492,454 116,748 7,725 :165,653 *82,578 543,9! 5 107,149 7,379 tll9,849 61,424 61.215 *df.l9,8Z8 *df.l5,437 26.483 8,750 33,060 *27.313 33,722 24,212 After allowing for other Income received. These fgures inolude other Income. After deducting $15,000 for Renewal Fund and Bond Conversion In July. 1900, and the same amount In July, 1899, the surplus is $150,653, against $101,849 a year ago. * 1 We give below the gross Northern Pacific.— earnings, etc., of the Northern Pacific for July. and net -July *1900. Gross earnings Operating extenses..... Net earnings Taxes, rentals, betterments, eto Latest Gross Earnings. Gross Earnings. $2,612,508 1,461,641 1899. $2,350,163 1,194.037 $1,160,^67 330,449 $1,156,126 319,334 $820,418 57.431 $836,792 22,222 $877,849 16.870 $859 014 20,624 $894,719 $879,638 Cur'nt Wee/cor Ho Year. . Albany City $ Onlted Traot. (Pitta.) Onited Traot. (Pro v.) July July 22.912 21,846 31,215 2 /,899 18,154 18,869 127.123 116 825 124.465 67,016 716.692 249>42 225,35*0 1,575,641 1,376,745 29,207 24,505 141.139 125,104 Inc. 24 046 Inc. 156. 925 123,699 116,055 757,459 721,085 172 834 161,475 1,083.209 945 4° 8 233,635 200,644 1,310,277 1,120,288 7.250 8,542 *8,473 37.519 36,317 May July July July July July July July Winnebago Traction. May Worcester* Marl'b'h July Miooel au's income, not includ'g land sales. Net income— Main system Proprietary lines * To'al Ihe operations of the 8t Paul A Dulnth 157.855 67,176 810.739 * Figures from May 1 cover Soranton Railway, Soranton Scran ton A Carbondale and Carbondale Railway, t strike in Cleveland In 1899 A Pittston, Street Railway Net Earnings.—The following table gives the returns of Street railway gross and net earnings received this week. In reporting these net earnings for the street railways, we adopt the same plan as that for the steam roads that is, we print each week all the returns received that week, but once a month (on the third or the fourth Saturday), we bring together all the roads furnishing returns, and the latest statement of this kind will be found In the Chronicle of August 18. 1900. The next will appear the issue of September 22, 1900. f— Gross Earnings. » Net Earnings.—. Current Previous Current Previous — m . Year. Net operating income fan.\\ to Latest Date. Prev'us Current Previous Year Year. Year. 9 Southwest Mo. Elect. Southern Ohio Tract. Staten Island Eleo Toronto Ry Twin City Rap. Tran Union (N. Bedford).. United P. A Transp. United Traotion— ) . 5,141 815,818 233,351 36,250 198,743 63,070 435 Year. Lorain A Cleve. Ry July Jan. 1 to July 31 ... Riobmond Trac'n...July Jan. 1 to July 31.... 11,900 53,820 20,979 118,050 Year. Year. * 9 Roads. — 9 7,826 28,085 10,086 42,514 7,597 28,868 11,435 57.247 11,468 51.407 19.151 96,923 ANNUAL REPORTS. are included In 1900. STREET RAILWAYS AND TRACTION COMPANIES. Wabash Railroad. The following table shows the gross earnings for the latest (Report for the year ending June 30, 1900, period of all street railways from whioh we are able to obThe pamphlet report for the year ending June 30, 1900, has tain weekly or monthly returns. The arrangement of the just been issued. The remarks of Mr. O. D. Ashley, the roads that is, that for the steam the is the same as table President, are given at length in this week's issue of the first two columns of figures give the gross earnings for the on pages 439 and 440; also extracts from the report Chronicle latest week or month, and the last two columns the earnings and General Manager Ramsey. Statistics President of Vice for the calendar year from January 1 to and including suob in the usual form for the Chronicle are as folcompiled latest week or month. lows: STREET RAILWAYS AND TRACTION COMPANIES. 1899-00. 1898-99. 1896-97. 1897-98. — Latest Gross Earnings. Gross Amsterdam St. Ry... Atlanta Ry. A Power. Ballston Terminal... Blnghamton St. Ry.. Chloago A Mil. Elec. Chicago Union Tract. Oin. Newp. ACov.... City Elec. (Rome.Ga.) Cleveland Eleotric. Cleve. Palnsv. A E. Col. 8p'gs Rap. Trans. . (O.) Ry.... Consol Trao. (Pitts.) Dart. A Wport St. Ry Denver City Tram.. Detroit Ctti'ns'St.Ry. Detroit Eleo. Ry.... Detroit Ft. Wayne . April 4,465 June 44 929 May July July July July July July July June July July July July 3d wk Aug 3d wk Aug A Belle Isle 3d wk Total of all *d wk Det. Roch. Ro. A L.O. July Duluth St. Ry Easton Consol. Eleo. Galveston City Grand Rapids Ry.... Harrisburg Traction. Herkimer MohawklllonAF'kfortEl.Ry. Internat'l Traction— (Buffalo) July June May June July June. (Can.) May.. Lorain St Railway.. Lorain A Cleve Masa. Eleo. Co.'s Metro. (Elev. ) Chioago Metrop.St. Ry.fN.Y.) Montreal Street Ry.. Muscatine St. Ry July. July.. July.. July. June.. June.. Ry May.. June.. July.. July.. April. Northern OhloTraot. July.. Norwalk Tramway . June.. Ogdensburg St Ry.. July. St. New Castle Traction. New London St. Ry.. New Orleans City St. Ry May.. Omaha A Coun. Bluff Olean & Ry. Bridge Philadelphia Comp'y Pottev'e Union Trao. Richmond Traotion. Sacramento Electrio Gas A Ry Soranton Railway 4.295 44,396 18,7~0 242.179 Previous Year. $ 17 404 213,2 18 2.906 '9i',878 19,875 19,081 102,395 71.5r5 18.378 26,140 6,553 630,89a 653*12 4.182,179 4.091,54* 72,704 68,704 434,962 394,296 3,447 22.6r 2,848 15,418 9.:o,34ti 645 U78 t95 857 1,143,164 16,605 14,531 74,853 65,154 20,102 14,t 18 80,530 60,811 88,614 551,290 254,97. 229.142 13.505 13,468 56,737 52.566 119,910 113,771 722,300 683,408 32,509 31,091 847.69 961,722 10,125 9,478 342,822 273,332 . Road oper. Jane Equipment — 30. 2,358 2,278 2,061 1,936 Locomotives PaBseDgei equip.... Freight equipment. 437 345 405 338 13,582 412 325 401 323 12,361 12,447 13,169 — Operations Passen. oarried, No. 4.277,735 3,751,019 3,517,682 3.149,170 Pass, carried 1 mile233,84 8,065 210,592 939 180,359,167 135.963,860 1-897 cts. 1-957 cts. 2-087 cts. Rate p. pass, p m.. 1-913 cts. Fr'Kht (tons) carr.f 6.9P7.641 *1,666,830 0-552 cts. *l,365.fc93 $ $ $ 661 ots. $ 4,474,652 1,349,998 3,995,102 9,212,692 1,186.180 3,528,746 8,524,733 1,154,383 2,837,974 7,604.770 1,084,044 16,440,990 14,393,974 13,207,862 11,526,788 1,896,131 3,605 625 1.334 758 4,814,253 266,649 1,686,363 3,129.737 1,662,987 2,502,652 870,311 4,029,308 239.629 1,542,064 2,086,840 6*4,330 3,434,318 231,605 9,304,779 3,903.083 70-45 7.979,157 3,547,631 69-22 8,080.220 Kr'glit(tons)oar.lm.t *l,902,88l Rate per ton per m.. learnings— Passenger Freight 0-557 cts. 10,616,^0 Mail, express, etc.. Total Expenses— Maintenance of way Motive power Maintenance ef cars Transportation Gonetal Aug 4,640 4,707 146.064 128.979 Aug 47,274 45,279 1,450,608 1,250,010 NetTotal earnings 8,291 26,^13 23,830 18,545 48,885 35,938 2i",80l 24,766 44241 34,551 158,173 llM.152 85,142 238,270 195,805 123,299 11,947,416 4,493,574 P.c.op.exp.to earns. 72-67 * 207,689 174,786 t 4,177 3,404 25,944 Revenue 14.315 16,973 9,285 5,814 11892 4.621 7,845 8.350 1 .800 12 36* 14,590 9,440 4,913 11,046 4.740 5,352 9,336 66.802 102 8 2 37,86s 3t>,446 61.666 23 131 54.953 82,5 29 37,705 26,748 59,445 22,445 54,198 57,248 51.407 53 820 626.000 588,000 2,901,682 2,605,426 114.374 921,033 1837686 1198811 7,108,431 6,5'20'686 168,244 156,858 795,598 839,067 5.334 4,874 36,383 9,828 8,997 4d".808 20,859 21,681 77,135 82,978 5*0,977 10,493 32,041 8,734 109 404 108.123 439.451 434 929 42,992 36,649 231,835 200,136 26,582 8,080 28.886 7,8-4 11,800 11696 2,719 2,998 17,138 4,318 18,626 3,680 11468 June.. July.. July. July.. 19,871 17,685 124,870 131 671 1,565,333 1,078,462 70,643 17,005 15,505 79,653 96,923 20,9? 9 19,151 118,050 July July 25,966 210,54 9 177,551 *59.U6 *53.779 296.245 269. 30,387 H9 10,411.474 3,982. c 00 72-33 ots. 5.954,760 l49,9t9 *1 freight only. INCOME ACCOUNT. 20,954 213,823 202,770 1,221,312 1,118,067 891527 4,440.788 263,059 6,382,831 0624 Three oiphers (0001 omitted, Invt'e, rentals, Ac. Total Deduct — Tax<-s 4,493,574 339,522 3.982.500 249,811 3,903.083 292,065 3,547,631 195,347 4.833,096 4,232,311 4,195,148 3,742,978 567.327 499,486 527,756 71,865 529,970 417,163 72,958 332 185 567,163 770,276 55,441 Total Applicable to int't. Interest on bonds.. Rent of leased lines 1,697,190 3,135,906 2,589.471 126,325 1,392,880 2,839,431 2,542,285 149,210 Balance Div. on pref debent. . Result 1896-97. $ Tr'k A b'dge rentals Additions misc.. & 1897-98. 1898-99. $ $ Net earnings Interstate Consol. of North Attleboro.. . May.. Johnstown Pass. Ry. July.. Kingston City Ry July.. Lebanon Val. St. Ry.. July.. Lehigh Traction July., Lima Railway (Ohio) 'une.. Newburg Latest Date. 1889-00. June. London St. Ry. 1 to Prev'us Current Week orMo Cur'nt Year. Year. Year. Earnings. Columbus Jan. 797,6" 8 1,099,107 3,096,041 2,545 335) 149,210 J $ 1,020,097 2,722,881 , Mll;i = *,m*.w 420,110 sur.147,936 sur.401,496 210,110 sur.28,336 sur.210,000 snr.147,936 sur.401,496 sur 28,336 BALANCE SHEET JUNE 30. 1897. 1900. 1898. 1899. 5$ Asw/it— *R ^£ Road, equipm't, Ac 134,944,500 135,033,500 133,433,500 133,433,500 Construction aoot.. 64.664 483,157 Supplies <Sc mater"ls. 598.247 891,219 709,518 474,575 Cash on hand 408,403 962,737 747.987 699,907 Stocks and bonds.. 784,632 875,915 822,093 203,926 Purou'g Committee. 68,572 616,478 1.097,176 Accounts collectible 869,582 1.108,527 258,310 *592,014 Advances A mlsoell. *911,531 *727,cS63 940,070 517,190 Deb. profit and loss. *ft Total ..139,335,980 139,333,156 137,499,734 137,109,923 . THE CHRONICLE. 436 1900. 1899. 1898. 1897. $ $ $ $ Liabilities— Common stock Vouch. & pay-rolls & due Ind. & RRs. Taxes accrued Hospital account. Notes payable 1,988.350 397,494 3,490 649,451 105,000 377.842 . t Dlv. on deb. bonds. Credit profit & loss. . TuHni 2,006,598 351,927 3,314 880.472 355,807 2,962 977,822 222,481 * Includes In 189900 $839,432, in 1898-99 $803.0)0, and in 189798 $479,434, carried in suspense account for new equipment, June 30, 1900— V. 71, p. 85. t Inoludes equipment notes, $639,432 Chicago Great Western Railway. (Report for the year ending June 30, 1900. J The remarks of President Stickney, from the annual re- Mall, express, etc Total earnings Operating Expenses— Mainteuanceoi way... Maintenance of equip. ^ Conducting transpt'n. Agencies & advert'ing. General expenses Taxes Total Net earnings Deduct — Rentals (inol. equipni't) 1897-8. $ $ $ 1,359,908 5,128,659 1.075,846 4,102,517 207,681 938,592 3,549,011 232.470 1,175,019 4,475,406 217,314 6,721,037 5,867,739 5,386,044 4,680,859 817,538 618,312 2,481,085 704,683 556,426 676,026 466,997 2,137,781 653,564 600.246 2,000.914 1,788,394 192,076 331,212 204,000 191,956 352,664 204,000 192,592 330,057 173,000 179,557 316,613 153,000 4,694,223 2,026,814 4,147,515 1,720,224 3.950,373 1,435,671 3.580,587 1,100,272 463,930 70,579 201,676 9,574 450,177 141,158 157.962 448,613 141.157 111,062 431,207 141,158 69,594 745,759 1,281,055 758,170 962,054 Interest priority loan.. Interest, other loans. .. Miscellaneous Total Balance Deduct— div. 18967. $ 18S8-9. _ . „ Total 568.650 193,256 700,832 734,839 396,524 364,541 62,355,786 61,732,390 59,086,690 — Ry 2,823,150 2,823,150 Equlp.leasewar'ts.C.SC.P.&K.C.Ry. 1,309.623 1,425.201 1,213,309 16,673,600 13,470,500 9,935,200 Deb. stock int., payable in cash 2,220,000 Deb.stock, in t.pay able in deb. stock 7,432 143,853 59,518 Scrip redeemable in deb. stock 11,303,900 11,361,60011,160,000 Five per cent pref erred stock A Four per cent preferred stock B.... 7,468,090 7.489.190 7,444,190 21,308,145 21,238,045 21,200,145 Common stock 3,937,121 3,534,657 2,710,686 Loans Due on stock Chic. Un Transfer Ry 40,000 O. - Accounts payable 243,194 (net) 347,874 Miscellaneous 280,490 are published on pages 445 to 452. The comparative tables below, compiled for the Chronicle, show the results of operations of the company for four years: OPERATIONS, EARNINGS AND EXPENSES. Iiooomotives Passenger cars Freight cars Road service cars. 1899-00. 6,431 1898-99. 5,959 1897-98. 5,232 1896-97. 4,827 797 714 764 682 686 593 640 525 27,368 23,912 21,162 576 139 446 89 19,118 367 304 9 6 . Tugs, b'rges&stmrs. Operations Passengers carried. II — 6,691,958 5,118,011 4,636,254 4,057.327 Pass, carr'd 1 mile..329,394,119 311,020,836 243.420,784 203.763,405 2-349 2-244 2-321 mile ots. ots. 2-372 ots, ots. Rate p. pass. p. Fr'ght (tons) oar'd.t 13,590,353 10,220,200 9,646,226 7,904,706 Freight (tons) car'2.294,257 *1,771,925 *1,587,694 •1,324.015 ried 1 milet 0-897 ots. 916 ots. 0922 ots. 0-936 otB. Rate per ton p. mile Earnings— $ Freight Passenger Mall Express Miscellaneous.. Total.... • ••«»•• 1898-93. 1897-99. 1896-37. $ $ 5,846,344 152,910 133,923 7,997,331 209,920 118,550 6,593.975 149,481 198,897 9,638,229 8,325,801 6,942,351 6,133,177 rentals 6,207,253 6,755,442 *24,028 Miscellaneous 15,533 Dividends on pref.. (3>l,800,000(2)1.172,90i 6,862,768 72,571 (1)543.900 5,612/234 75,022 (1)543,000 6,479,239 6,230,256 463,112 —97,077 Miscellan's income. Total Deduct — Fixed charges and Total Balance, surplus... 8,570,977 1,117,252 7,404,185 921,616 GENERAL BALANCE SHEET JUNE 30. 1899. 1898. 1900. 1897. Assets $ $ $ $ Cost of road 278,340,407 273,350,974 263,580.832 254,133.245 Cost of equipment.. 15,758,017 13,597,128 12,275,338 11,467,454 Securities pledg'd or held for control... 21,921,371 21,496,277 16,068,201 14,712.973 Securities owned... '3,457,305 3,056,962 1,998,061 1,382,598 Mater'ls & supplies. 2,202,221 1,193,873 1,078.539 957,950 Bills reo., deferred.. 136.235 179,191 173,311 412,495 Insur. pd., not aoo'd 8,609 3,516 18,521 19.S93 Insurance fund Sinking fund Cash in 160,185 109,707 U.S. Gov. 3,978,392 555,107 340.618 con. lines 5<»2,501 indiv.&co's 1,035,610 55,846 108,639 in transit " " 130,515 104,272 52,689 3,388,676 507,456 332,948 556,017 1,043,508 66,530 2,566,496 2,410,848 436,589 292,322 542,779 291,833 210,972 hands and etc. Sundry accounts 396 598 321,014 718,732 532,859 62,079 328,750,820 318,903,571 299,894,853 287,324,643 1900. Liabilities— 1899. 1898. 1897. $ $ $ $ 120,000,000 120,000,000 120,000,000 120,000.000 63.000,000 60,000.000 57,290.400 54300,000 104,970,200 103,932,300 101,236,000 80,6(30,500 Common stock Preferred stock Funded debt Outstand'g securit's of leaseh'd estates 25,952,200 Equipment notes... Equip, oblig So. Ry. Ctfs. of indebt'ness. K.C.G.&L.Ry.purch No.E.RR.ofGa.pur, Reserve funds Taxes acc'd.notdue Interest and rental acorued, not due.. Interest and rental due and unpaid. For'gn fr'ght claims Audited vouchers. . Reserv. for div'nds. Pay rolls, June Due oonnect'g lines. Due indlv'ls & co.'s. Miscellaneous acc'ts Profit and loss 133,890 1,675,996 2,916,667 21,508 000 239,992 2,950,000 12,850.000 202,818 25,711,000 279,770 1,000,000 472,356 207,000 1,361,676 350,085 1,530.872 287,822 620,376 249,896 306.818 240,098 586,460 597,465 524,430 508,117 1,909,067 35,667 2,048.393 900.000 1,114,111 1,909.532 30,113 1,252.971 600,000 857.993 398,217 292,237 149,495 2,366,564 1,829,790 1,654,727 39 1 ,563 631,010 56,231 3,510,702 1,077,278 830,947 728.551 422.970 230 197 177,196 1,454,951 672,011 326,470 103,634 115.369 1,139,831 Total liabilities. 328,750,820 318,903,571 299,894,853 287,324,643 * Includes $1,276 000 Southern Ry. consols, in treasury. 71, p. 286, 183. -V. Hocking Yalley Railway. Southern Railway. {Report for the year ending June 30, 1900.) The report in full of Mr. Samuel Spencer, President, and extracts from the report of the General Manager, together with the Balance Sheet, Income Account and other tables, Equipment — of miles in 1838-99, 5,254; In 62,355,786 61,732,390 59,086,690 Total —V. 71, p. 236,179. Miles oper. June 30.. 1,316,201 9,363.423 276,418 42,383 . & K. 13,233,156 5.846,344 69-35 $ INCOME ACCOUNT. Total assets 396,524 364,541 1,137,270 952,898 143,785 9,156 333,315 90,772 GENERAL BALANCE SHEET, CAPITAL ACCOUNTS, JDNE 30. 1900. 1899. 1898. Assets— $ $ $ 2,799,019 2,632,577 2,484,567 Cost of rolling stock owned 2.401,873 2,309.133 1,870.191 in car trusts... Oostof rolling stooK Cost of road, including terminals.. .5 3,467,015 54,^78,094 52,966,732 1,179,218 77,100 4% debenture stock In treasury 207,160 205,939 92,742 Other treasury stocks 56.694 56,694 54.828 Interest in Chic. Union Transfer Ry. 85.000 15,000 Int.in Kan.City & St. Jos. elevators. 255,754 680.132 685,272 Stocks & bonds of other companies.. 84,491 274,376 574,767 Cash, accounts & bills reoeiv'e (net) 280,491 Miscellaneous a Liabilities 14,501,864 6,593,975 68-74 17,356,355 7,997,331 68 45 operated for the year: In 1899-00, 6,303; 1897-98, 5,251; 1896-97,4,806. 644,959 455.313 Total Surplus for year Priority loan C. St. P. 6,745,999 2,920.190 2,250,766 1896-97. * (000's) omitted. Not including company's freight. following The the averages operations are reported on U Dlv. on pref. stock A..(5%)568,620(4%)454,896 '•tTotal 7,263,724 3,031,171 2,751,824 1,455,145 6998 P.O. of exp. to earns. Due from ag'ts, 8,873 498,002 8,296,428 3,^9 7,261 3,792,304 814,531; 855,829' 21 831,447 9,369,423 Net earnings Bills rec'vble, curr't on deb. stock.. $ Conduot'g transp'n. 10,476,930 Way and structures. 4,665,231 Maint. of equipment 4,635,351 General 1,007,143 Taxes 1,047,791 Net earnings Inc. from investm'ts EARNINGS, EXPENSES AND CHARGES. Passengers Freight 1897-98. $ 1899-00. port, giving much valuable information regarding the property, and tne principal tables of operations, etc.,. are given on pages 441 to 444. 1899-00. 1898-99. $ t * Earnings — 1899-00. 1,474,535 2,016.165 ^39,660 3.460 845,302 139,335,980 139,333,156 137,499.734 137,109,923 Total [Vol. LXXI. Expenses— 28,000.000 23,000,000 28,000 000 28,000,000 Prefened stock.... 24,000,000 24,000,000 24,000,000 24,000,000 83,045,000 83,073.000 81,534,000 81.534,000 Bonds 764,797 761,146 795,363 769.353 Int. due & accrued. 4% J .. . $ $ $ 21,006.730 16,099,293 13,679,164 12,386.902 7,737,454 7.083,253 5.394,518 4,832,848 1,327.807 1,261,422 1,209,294 1,110,063 638,514 605,469 445,033 428,560 490.364 404,249 867.830 321,127 31,200,870 25,353,686 21,096,839 19,079,6C0 (Statement for the year ending June 30, 1900. The results for the late Hssal year compire as follows with those for the vear 1898 99 : Gross earnings Operating expenses and taxes 1899-00. $4,348,830 2,593,861 1898-99. $2,874,035 1,959,520 Net earnings from operation Other Income $1,754,949 221,579 $914,515 24,223 $1,976,528 807,980 $9 38,738" $1,168,548 $789,563 Total available income Fixed charges Net Income 149,175 —V. 71, p. 341, 236. Republic Iron & Steel Co. ("Report for the 14 months ending June 30, 1900. J annual report will be found on pages 453 and 454. It will be noticed that the company has deducted from the profits ($5,684,101) for the period covered $893,014 for improvements, renewals and depreciation, $1,097,358 for depreciation in raw and finished material on hand and $50,0 X) for The first possible loss in the collecting of outstanding accounts. Together these deductions aggregate $2,040,872, leaviDg the net profits $3,643,729, from which has been declared 7 per cent on the preferred stock, or $1,421,679. The net surplus remaining after payment of the preferred dividend i* $2,223,050.—V. 70 p. 1099, — — September — THE CHRONICLE. 1, 1900.] GENERAL INVESTMENT NEWS. An association has agreed to furnish the committee a sum sufficient to pay: (a) The matured bonds of the Houston City Street Railway Co $137,- of RAILROADS. INCLUDING STREET ROADS. Boston Elevated RR.— West End Bonds Sold.—The West , & payable Feb. 1 and Aug. 1), and are due Aug. other bids received by the company ranged 104-577.-V. 71, p. 235, 83. from In return such association is to receive the stock and se- new company remaining after carrying out the requirements of this plan. The depositary is the laternational Trust Co., Boston. The time for the deposit of the curities of the The 1, 1915. money 000; (b) all existing liens whioh are paramount to the mortgage to International Trust Co., and whioh include all aoorued legal liabilities for street paving; (c) an amount of cash sufficient to make such improvements and repairs as are immediately necessary, estimated at between $75,000 and $100,000; (d) all expenses of foreclosure and reorganization. Street Railway 4 per cent 15-year bonds, amounting to Co. at $2 112,000 have been awarded to Kidder, Peabody 104-69 and are now offered to the public. The bonds are in denominations of $1,000 each, are payable principal and interest in lawful money, are dated Aug. 1, 1900 (with interest End 437 104-31 to income bonds has been extended to Central of Georgia Railway.— Interest on Incomes.— The directors on Wednesday declared a dividend of 8J^ per cent on the $4,000,000 first preferred income bonds, contrasting with 2 per cent paid both in 1898 and 1899.— V. 70 p. 1194. Sept. 25.—V. 66, p. 950. Los Angeles Terminal Ry.— Proposed New Line to Salt Lake City. The report is confirmed that Senator W. A. Clark of Montana and his brother have acquired a majority of this company's $3,000,000 capital stock through purchase of its treasury holdings, with a view to the use of the property as a terminus for a new line to be constructed from Salt Lake City via San Bernardino to the Pacifi? coast, a total — Chicago Burlington & (Juincy RR.— New Line.— The new branch, about 150 miles in length, extending from Alliance, Neb., to Brush, Col. (88 miles east of Denver), it is expected will be opened for traffic on or about Sept. 10. The line, it is stated, traverses a rich farming country and will make possible a direct route between Denver and the rich mining Alliance is the eastern terminus district of the Black Hills. iron mining country.—V. Guernsey the extension to the of distance of about 7 13 miles. It is proposed to organize a new company to carry out the plan. T. E. Gibbons, Vice-President and General Manager of the " It is roughly estimated that it Terminal Company, says will require the proceeds of $20,000,000 in bonds, a3 well as the stock, to construct and properly equip the line with necessary branches in Southern California and at other points. This at 4 par cent would put the property under fixed interest charges of only $800,000 per annum." Others interested in the enterprise are R. C. Kerens, S. A. Bemis and John T. Davis, of St. Louis.— V. 71, p. 390. : 71, p. 390, 181. Chicago Indiana & Eastern Ry.—Mortgage.— The company made a mortgage to the New York Security & Trust Co. has as trustee to secure $1,000,000 of 5 per cent 40-year gold bonds. The proceeds of the new loan, it is said, will be used in building the extension of the road from Matthews southeast to Richmond, 51 miles. Construction is in progress. Chicago Indianapolis & Louisville Ry.—Dividend.—The company has declared a semi-annual dividend of 2 per cent on Incomes.—The New Co. will pay on Sept 1 x per cent for the year on the $3,900,000 income bonds. In Z /o September, 1899, 3 per cent, and in September, 1898, 2 per Mohawk & Malone York Central on the $5,000,000 of 4 per cent non- cumulative preferred stock, payable Oct. 15. In March, 1899, 1 per cent was distributed, being the only other dividend to date.— V. 71, p. 181. cent, Easton (Pa.) Consolidated Electric Co.— Instalment.— Notices, it is said, will shortly be mailed calling for the payment of the $2 50 per share which has been authorized by the bDard, the first instalment of $1 25 to be payable Oct. 1 and the second of $1 25 Dec. 10. The proceeds ($75,000) will be used to pay for a 6-mile extension of the electric road to Nazareth, Pa., and of one mile in Phillipsburg. These payments will make the $1,500,000 stock 25 per cent paid.—V. was paid. & Ry. Interest Hudson River RR. —V. 69, p. 385. RR.— Default— Protective Measures. principal of the $350,000 bonds, which matured on March 1, 1900, and which was extended by the consent of the bondholders for six months, will not, we are informed, ba paid; neither will the interest due Sept. 1 be met. The bondholders are therefore requested to communicate with F. J. Co., 30 Broad Street, with a view to protecting Lisman their interests. See advertisement on another page.— V. 71, Moore Co. & Western —The & 70, p. 1249. 236. Cristo Ry.— Reorganization.—The reor- p. John D. T. Gates, consisting of Fred. committee, ganization New Orleans & Western RR.—Sale.— The foreclosure Rockefeller Jr., George Wei wood Murray, Colgate Hoyt and sale will take .piace at Port Chalmette, La., on Oct. 6. The Gardner Colby, gives notice that a meeting of the certificate upset price is $1,000,000. From this amount must be paid holders, under the agreement dated April 24, 1899, will be $400,000 receivers' certificates and about $125,000 on open held at Room No. 1409, 26 Broadway, New York, on S9pt. 5, accounts, etc., any balance remaining to be distributed pro 1900, at 11 a.m., to consider a plan of reorganization which rata among the $2,000,000 first mortgage bonds. These last will then be submitted. Edward V. Cary, 26 Broadway, New carry $333,125 of interest accrued. It is thought in New Or"York, is Secretary of the committee.— V. 70, p. 791. leans that the Kansas City Southern Ry. Co. may appear as Grand Rapids Grand Haven & Muskegon (Electric) Ry.— a bidder, in order to obtain terminals at New Orleans. See New Enterprise.— This company was recently incorporated in modification of reorganization agreement in V. 71, p. 288, 236. Michigan to build an electric railway 45 miles in length conNew York Central & Hudson River RR. Weehawken Ternecting the three cities named in its title. The President, J. D. Hawks, of Detroit, who is also President of the Detroit & minals.— Elaborate plans have been prepared for the imMackinac Ry., writes us as follows "While the money has provement of the West Shore terminal at Weehawken. The been raised, the amount of securities has not been decided. total expenditure, it is said, will be between $3,000,000 and There will be no bonds in the market until after the road is $4,000,000, but this outlay will be distributed over a considWe are busy now securing private right of erable period. The work includes the enlargement of the in operation. way and doing our figuring on power-house losation, ma- Weehawken yards, the concentration there of terminal busichinery, cars, etc. We have no orders placed for cars, but ness now handled at several other points, and the building of The intention is that when these immachinery will all be Westinghouse, Church, Kerr & Co. additional piers. provements are completed a portion of the freight traffic Westinghouse electric machinery." The Vice-President is Thos. F. Carroll; Treasurer, Wallace Franklin; Secretary, now carried on the east bank of the Hudson shall be sent over the West Shore tracks.—V. 71, p. 236. Jos. Kerwin. Everett & Monte : Havana Electric Street Railway.— Bonds Authorized.— Northern Ry. of Costa Rica.— Press reports say: "This comThe stockholders on Thursday voted to issue $1,000,000 pany has been organized under the laws of Costa Rica by interests identified with the United Fruit Co., to build a line second mortgage 6 per cent ten-year bonds.—V. 71, p. 236. Houston Electric Street Ry. Reorganization.— Eliot from the coast inland, a distance of 69 miles, largely through Wads worth and Owen D. Young, the reorganization com- the plantations of the United Fruit Co. The capital stock is mittee, announce the following deposits under plan: Issued. Deposited. Houston City Street Ry. Co. 7% bonds $94,000 $137,000 Houston Electric Street Railway Co 5% consols. 74 0,000 695,000 do do 55,000 ooupon sorip. 81,400 do do 485,000 income bonds 775,000 The plan provides that a new company shall be organized under the laws of Texas to own the franchises and railway properties of the present company, the capitalization to be as follows: Common stock to be authorized and issued $1,000,000 Preferred stock 6 per cent cumulative, preferred as to assets as well as in dividends. To be authorized and issued 75,000 Mortgage 5 per cent 25-year gold bonds, to be subject to 1 oall as a whole at lO? ^ and accrued interest on and after ten years from their date, Aug. 1, 1900; present Issue to be .....?.... Also Issuable at the rate of $1,000 of bonds for each 1,250 expended iu permanent improvements and adfitions to the property mortgaged, other than additional traok Additional amount issuable at the rate of $io,b66 for each additional mile of new single traok built The terms of _ Each $1,000 principal, Pays cask. St. Ry. 7s ($137,000) El. St. Ry. 5s ($740,000) ' * " 500.000 Not fixed exchange of old for new securities follows: City ' 750,000 " coup. & scrip (181,400) " Incomes ($775,000).... . And icill Oash. receive ...... $100 $600 600 100 structed." In response to our request for confirma'ion of the foregoing, Treasurer Charles A. Hubbard, of the United Fruit Co., writes ''The proposition as to the Northern Railway of : Costa Rica has not been sufficiently advanced at this time to enable me to f Ornish you with definite information concerning its financial affairs. If tne project is carried out as now contemplated I shall be pleased later to answer your inquiries concerning the property." Rutland RR.—Proposed Purchase of Controlled Companies. it is stated, will ba made to the next Vermont Legislature for an amendment to the charter permitting the company to buy the BenniLgton Rutland, the RutlandCanadian, the Rutland Noyan and the Ogdensbarg & Lake Cham plain railroad companies, and the Rutland Transit Co., and for this purpose to increase the capital stock. V. 71, —Application, & & — p. 82. v Bonds, Stock. $1,000 $1,600,000, and an issue of $1,600,000 of 5 per cent bonds, it is said, has been underwritten by a syndicate, composed chiefly of Boston parties. The road is about one-half con- $400 400 50 RR— New Line.— To day the Louis & San Francisco Louis Oklahoma & Southern Railway, known as the Red River division of this system, will ba opened for business from Sapulpa to Henrietta, I, T„ 45 miles.—V. 71, p. 233, 237. St. St. — — — : : THE CHRONICLE. 438 Seattle (Wash.) Electric Co.—Franchise.—The new fran chise, it is reported, has been formally taken over. The company is a combination of the leading street railway and electric-lighting interests of Seattle, having acquired, besides the 12 companies mentioned on page 85 of onr Stheet Rail Supplement, the North Seattle Cable Ry. and the James Street Cmsti notion Co. The Seattle Electric Co., it is understood, will issue: $3.735 000 first mortgage bonds; $1,250,000 preferred stock and $5,000,000 common stock. The gross earnings of the consolidated system were as follows $537,000 $874.000 1897 1899 487.000 747,000 1896 1898 way 1 | the present rate of increase is contin ued, the 1900 earnings will be over $1,000,000.— V. 70, p. 584. It is — — thought that if [Vol. LXXI, proposed payments for tne Ogden Gas Co. The "Chicago Economist," however, on Aug. 25, said The deal whereby it was proposed to acquire the Ogden Gas Co. and : the Cosmopolitan Electric Co. in the interest of the People's Company has not fallen through Neither has It been consummated. There is a strong probability, in fact almost a certainty, that the deal will Anally be carried out substantially on the orielnal lines. In a general way the facts are as foilowp; Certain individuals, acting In the interest of the People's Gas Company, made an aereemenr, to buy control of the Ogden. At least two men prominently Identified with the Ogden would have remained in the management. A cash sum, said to have been $200,000, was paid over as earnest money. Lat«r an attemptwas made to secure an amendment of the Ogden franchise. This attempt was blocked by Mayor Harrison. It did not affect the essential facts of the deal. But no further payments have been made. The Ogden Company recoided a mortgage securing $6,OOi>.000 of bonds. The bonds have not yet been issued and there has been no change in the directors and officers of the Ogden and the Cosmopolitan companies. However, among men with the best sources of information the belief is expressed that the deal will finally he oarried through as originally intended. The Ogden Company is doing a little work in the way of laying mains, but that is not at all significant. It was asserted yesterday that the Municipal Gas Co., incorporatel laet week (page 392), is organized in the interest of the Peoples' Company and for the purpose of fighting the Ogden Gas Co. The last-named company, under its charter, cannot charge in excess of 90 cents per 1,000 cubic feet for gas. The Peoples' Company charges $1.— V. 71, p 239. Texas & New Orleans RR.—New Bonds —The Texas Railroad Commission has authorized the ifsue of $4,435 2' bonds, at $20.0<<0 per mile, upon the following: Extension from Rockland to Cedar, 165 milep; old Texas Trunk, 50 58 miles; Louisiana Western Extension, 6'18 milep. Tne last two issues are under the provisions of the consolidation act, by which th« said roads are to retire outstanding indebtedSee also V. 71, p 183, and V. 70, p. 997. ness. Toledo St. Louis & Kansas City RR.—Second Instalment. The second instalment of $5 per share on the preferred Price," McCormick & Co.— Payment to Cred tors.— The stock and $3 p*r share on the common stock must be paid creditors who filed their claims received on Monday a diviat the Central Tiust Co. by Sept. 5.— V. 71, p. 237. dend of 50 p^r cent in cash at the Metropolitan Trust (Jo. Over T«ledo St. Lonis & Western Ry.— Instalment.— See To 85 par cent of all claims against the firm have been filed with the trustees.—V. 71, p. 393, 290, ledo St. Louis & Kansas City RR. above.— V. 71, p. 343, 237. Rogers Locomotive & Machine Works Co.—This company, which employs about 1,500 men, early in the week INDUSTRIAL. GAS AND MISCELLANEOUS. announced its intention to go into liquidation, closing down its locomotive works and also probably its iron works Stock. At Increase Purchase Brass American Co. of The business was established at PaterWaterbury, Conn., on Tuesday the stockholders voted to in- on or about Dec. 1 son, N. J., in by John Clark of Paisley, Scotland, who 1800, and to 000,000, capital stock from to $10 crease the $6,000,000 apply $2,000,000 of the new stock to the purchase of the $400,- started an iron works on a part of the present site. The Robert S. 000 capital stock of the Benedict & Burnham Manufacturing building of locomotives was begun in 1852. Co. The remaining $2,000,000 of new capital stock, it is Hughes, the President, died three weeks ago. In view of this announcement, a move has been started in said, will remain in the treasury for future requirements. Paterson to purchase control and continue the business. 40. V. 70, p. Jacob Rogers, the principal owner, says saying is quoted as American Malting Co.— A director If the business men of Paterson wish to buy me out, and will make "No dividend will be declared on the preferred stock out of the me any kind of a proposition, I will meet them more than half way. I profits for the year ending Aug. 31, though these show a small per am growing old. and have all the money I want. I have tried to do no In — — — . : oentage on the preferred stock. We h <ve been • cleaning out ' preparation for a good business during the coming year, and I coneider the prospeots encouraging. There has been a substantial reduction in expenses all along the line."— V. 70, p. 478. —The Asphalt Co. of America.— Terms of Consolidation. "Philadelphia News Bureau" says: The details of the treatment of the Asphalt of America 5s In the consolidation with the National Asphalt Co. have now been determined upon. We can state the following as being official. The sinking fund will be Increased to $3 0,000 per annum. At present the and not more oompany Is obliged to retire not less than $25,0 than $100,000 bonds per annum. It will be provided that a year's interest must be set aside in any year before anything be paid on the stock. Of course under the terms of the oonso idation the Asphalt 5s are secured by the deposit of all of the company's paid-in capital stock.— See V. 71, p. 344. business for the last seven years, but so long as I hold the greater part of the stock of the company I must look after the business more or less. The works are turning out now about twenty locomotives a month. There Is from $1,0(0 to $1,500 profit on each finished machine. That is a good return. With improved machinery which is needed, the output could be increased and profits lnoreased per engine. I estimate that the cost of needed improvements and working capital would be $;- 00,000, or, perhaps to be safe, say $400,000. I would make easy terms. Tne works at present have no railroad connection, and it is necessary to haul the locomotives taken through the streets by horses. , — Rubber Goods Manufacturing Co.— Dividends. The company has declared a dividend (No. 2) of 1 per cent on the common stock, payable Oct. 16 to stockholders of record Oct. Consolidated Gas Co. of New York. Dividend —The com- 6; also a quarterly dividend (No. 6) of \% per cent on the pany has declared a quarterly dividend of 2 per cent, thus preferred stock, payable Sept. 15 on stock of record Sept. 8. restoring the rate to 8 per cent per annum. The dividend is The first dividend on the common stock, also 1 per cent, was payable Sept. 15 books close Sept. 5 and reopen Sept. 17. paid July 16 last.— V. 71, p. 393, 239. Director Samuel Sloan is quoted as saying: "It is a quarSharon Steel Co.— Increase of Stock. The stockholders terly dividend, and puts the company back on its old basis will vote Oct. 11 on a proposition to increase the capital before the strike; and that is not all, for we have a handsome stock from $1,000,000 to $5,500,000. A new plant for the surplus besides I have been a director in the company for a manufacture of pig iron, steel, tin plate, rods, wire and wire great many years, and I have never known a time when the nails is under construction.— V. 71, p. 140. outlook was so promising."—V. 71, p. 344, 184. Superior Water, Light & Power Co. Reorganization.— Electro-Pneumatic Transit Co. Reorganization.— It is Bondholders who have not signed the agreement of reorganireported that reorganization matters are progressing satis- zation will expedite the matter by sending their address to factorily, and that it is proposed to exchange the $1,500,000 Walston H. Brown, 42 Wall St., New York City, or to old stock, $ for $, for new stock, and in addition to give to Victor M. Watkins, St. Paul, Minn. the shareholders for the assessment of 20 cents (per $10 share) The plan, which it is hoped to carry through without paid in 1898 5 per cent debt certificates also $ for $. The as- foreclosure and the appointment of a receiver, provides for sessment aergrega^ed $30,000 and the issue of debt certific-ites, the issuance of the following newsecuri.ies: it is said, will be for the same amount. No preferred stock it First mortgage 4 per cent bonds $1,400,000 is stated will be issued.— V. 70, p. 897. Of which, in exchange for like amount of outstanding 1,200,000 6 per oent bonds International Paper Co.— Officers.— The directors elected ?00,0 To be used in payment of the debts of the company at the annual m-eting of stockholders at Corinth, New York, Incomekper cent bonds 350,000 Of which in payment of coupons for three years up to Aug. 22. 1900, were: Darius Ogden Mills, Alonzo N. Burand including May 1, 1901, on $1,200,000 outstandbank, Thomas S. Coolidge, Warren Curtis. F. B. Jennings 216,000 ing 6 per cent bonds has been elected a director to fill the vacancy caused by the To holders of 6 per cent bonds, $70 per bond as comdeath of H. G Burleigh. Officers: 84,000 pensation for reduotion in rate of interest 50,000 To be used in payment of the debts of the oompany... President, Hugh J. ChUholm; 1st Vice-President, A. N. Burbank 2d Vice-Preoident, Win. B. Dillon; Treasurer, A. N. Burbank; Secre By the plan for each $1,000 6 per cent bond, its holder will tary, E. W. Hyde. V. 71, p. 2b6. receive $1,000 4 per cent first mortgage bond and $250 4 per Kansas City (Mo.) Gas Co. New President.— Hug h Mc- cent income bond. All new bonds will be dated and bear inQowan, formerly ot Kansas City, has been elected President terest from May 1, 1901. of the company to succeed the late Milton J. Payne. Mr. On Aug. 28 the holders of more than 90 per cent of the McGowan is a stockholder in the company, and is also Presi- outstanding bonds had signed the reorganization agreement. dent of the Indianapolis Street Railway Co. E. L. Bondreth The United States Mortgage & Trust Co. is the dep sitary of Philadelphia has been elected a director in place of Colonel under the plan. The committee consists of the following: Payne.— V. 71, p. 82. Frank B. Kellogg. Kenneth Clark, Henry P. Upham, Victor M. WatR Dunn, of St. Paul; Walston H. Brown, 42 Wall St., Ogden Gas Co. of Chicago.— Receipts.— The company, it is kins and Robert-See also V. 71, p. 393. York City stated, reports its receipts from sales of gas for the year end- New Co. of Dubuque.— Incorporated.—This Electric Union an increase 1900, as of $275,664, ing June 30, $22,113 over the in Iowa to effect the conincorporated been has previous year. Of the late year's receipts $2,442 came from company Authorized capital s 'ock, $1,000,000. noted. already solidation the city for 75-cent gas. A. Status of Pur chase.— See People's Gas Light & Coke Co. Incorporators: E. D. Stout, W. S. Molo. Q. W. Kiesel, E. LineD. D. Myers, B. Lacy, B. E. Brown, W. J. Engler, W. below.—V. 70, p. 1294. nan, all of Dubuque.— See V. 71, p. 313. People's Gas Co. of Chicago.— Ogden Gas Co.— Reports are conflicting as to whether there has been delay in the E^*For other Inrestnient News «ee Page 454. — ; — : September THE CHRONICLE. 1, 1900.] jeptftts 439 and ^otummts. THE WABASH RAILROAD COMPANY. ELEVENTH ANNUAL REPORT— FOR THE FISCAL YEAR ENDING JUNE The results of the traffic on the entire system, as stated by the Auditor, for the year ending June 30, 1900, were as follows Grose Earnings Miscellaneous Receipts : $16,440,990 29 269,613 85 $16,710,604 14 Total Receipts $11,947,417 43 Deduct Operating Expenses * 567,327 22 Deduot Taxes Deduot Balance Joint Traok Rentals 7 67,746 67 and Miscellaneous E x penses Deduot Additions to Property and Other 292,207 70 13,574,699 02 Charges Net Earnings applicable to Interest Interest on Bonds $3,135,905 12 2,715,806 11 1900. 30, strates the value of the more powerful engines recently added to our motive power. The financial condition of the Company is substantially the same as at the close of the last fiscal year, except so far as the engagements for new rolling stock have added, or will add to the obligations of that character. There is no floating debt, as represented by borrowed money. The 3,500 box and coal cars recently ordered and now being delivered are not included in the Auditor's statement, and do not appear in the accounts of the last fiscal year. Payment for these cars in monthly instalments will extend through the ensuing six years, unless otherwise provided for. The officers and employes of the Company have zealously contributed to the successful operations of the year, and in all departments they are entitled to this recognition of loyal and faithful services. For the Directors, 8urplus Dividends on Debenture "A " Bonds $210,099 01 Net Surplus The very full report $420,099 01 210,000 00 of Vice-President Ramsey and tion, the Wabash Company has not only held its own, but is fairly gaining in its efforts to solve the transportation problem. A fact bearing upon the economical handling of freight impressive by a comparison of the average loads per car and per train. The table shows that from 11-08 tons per car in 1889 the average increased to 16-07 tons per car in 1900, while the average train loads increased from 179-40 tons in 1889 to 291-02 tons in 1900. This forcibly illustrates the advantages gained by discarding the small freight cars formerly in use for those of larger capacity, and also demon- made New York, ASHLEY, President. August, 1900. the tables of the Auditor, both herewith submitted, will enable the bondholders and stockholders of the Company to analyze the operations of the year, and to form a correct idea of the policy which has governed the management, and which is still influential in the affairs of the Company. This policy demands the completion of plans for bringing the physical condition of the Wabash Railroad System up to the standard of first-class lines, and to provide rolling stock adequate to meet the requirements of a constantly increasing traffic. Inability to comply with these demands will diminish the competing power of our lines in the ratio of the deficiency. Hence the necessity of large expenditures to meet up-to-date conditions, not only in roadbed and track, but in equipment. Under these circumstances the Board of Directors has not hesitated to authorize liberal outlays from earnings in order to enable the lines of the Wabash to compete with other first-class systems. The proposition, reduced to its most simple form, presented the alternative of losing instead of gaining traffic, if the requirements of shippers could not be met. Considering it vital, therefore, to the interests of the Company, the orders for new box and coal cars have been largely increased, and are now in the course of delivery. Reference to VicePresident Ramsey's report will develop the striking fact that during the pressure of traffic in the past fiscal year a daily shortage of 1,500 cars has been a common occurence. At competing points the company which can supply these cars will necessarily secure the traffic, and it has therefore resolved itself into a simple question of providing for business which the constantly developing resources of the country offer, and which belongs to our system. Failure to do this would be inexcusable, unless circumstances rendered it impossible to furnish the means of payment. This brief explanation of the policy of the Company seems necessary in order to account for the liberal additions to rolling stock, which must be paid for from earnings. These payments extend through the ensuing six years, in monthly instalments, and except so far as they have been increased by the addition of the leased lines between Detroit and Buffalo, are a legitimate charge to operating expenses in the department of maintenance and repair. Attention is directed to the interesting table of the Auditor (see pamphlet, p. 54), giving the mileage statistics of the Company for twenty years. The comparison from 1889 to 1900 is made substantially upon the same system. The year 1900 shows for the first time since 1893 an increase in the earnings per mile, while at the same time the rate per ton per mile has decreased from 0-683 cents to 0*558 cents. In other words, the road has earned more net per mile at about 5^ mills per ton per mile in 1900 than in 1894 at about 6^ mills per ton per mile. The passenger statistics show a similar improvement, and the net earnings per mile ($1,920 74) are the largest since 1889, the year of reorganization. A oareful study of these tables will show that notwithstanding the discouraging features of railway traffic, incidental to constantly declining rates and more aggressive competi- is O. D. EXTRACTS FROM THE REPORT OF J. R AMSE V JR., VICE-PRESIDENT AND GENERAL MANAGER. With the larse increase in gross earnings, $2,047,016 14, there may be some feelings of disappointment in the comparatively small increase in net earnings, but a careful examination of the various statements and statistics, especially those showing the expenditures on account of the various improvements and additions to the property, cars and locomotives, will show that a large part of the increase in expenses has been due to actual improvements and additions, and that the increase due to cost of securing, moving and handling the increased traffic and legitimate maintenance of the property has been not out of proportion to the increase in earnings. The increase of $2,047,016 14 in earnings is divided as follows: Wabash, west of Detroit, Increase ..$1,586,236 42 Buffalo Division, Increase The increase of 460,779 72 $1,535,943 61 in expenses is divided as follows: Wabash, west of Detroit, Increase.. $1,209,446 66 326,496 95 Buffalo Division, Increase Leaving out the Buffalo Division for the years 1898-1899 and 1899-1900, the percentage of operating expenses to earnings on the Wabash proper was as folio wa: Year ending Jane 30th, 1899, Year ending Jane 30th, 1900, 71*21 percent 71-87 per cent FREIGHT TRAFFIC. The freight traffic statistics again show a large increase, 236,051,224 (14*16 percent) in "tons revenue freight carried one mile," at an average rate of 0-5579 cents per mile, an increase of 0-0052 cents (0*94 per cent), at a cost per ton mile of 0-4250 cents, an increase of 0-0038 cents (00*9 per cent), leaving a net profit of 0-1329 cents as compared with 0-1315 cents last year, an increase of 0-0014 cents. The average revenue per freight train mile was $1*5005; expense per mile, $1*1431, and net earnings, $0-3574, as against $1*2973, $0*9887 and $0*3086 respectively last year. The total freight train mileage was 7,075,158, a decrease of 26,166, or about 3*67 per cent. The loaded cars per train increased 0*90 cars, the load per car 1*24 tons, and the "revenue" train-load was 268*94 tons, against 234*72 tons last year, an increase of 34*19 tons, or 14 6 per cent. - OPERATION AND MAINTENANCE. Expenses of operation and maintenance increased as follows Buffalo Wabash Division. Proper. ft Conducting Transportation... 104,266 40 Motive Power 91,71126 Maintenance of Way 104,259 74 Maintenance of Cars 22,093 83 General Expenses 4,165 72 Total 326,496 95 g| Total. jft 299,198 63 384,176 93 105,503 76 421,137 88 *575 54 403.465 03 475,888 19 209,768 50 443,231 71 3,590 18 1,209,446 66 1,535,943 61 "Decrease. MOTIVE POWER DEPARTMENT. The expenses of this department show an increase of $475,888 19, of which $91,711 26 is due to the Buffalo Di- - : THE CHRONICLE. 440 [Vol. LX1I, During the past year we were, for months, " short on by actual records, an average of 1,500 cars per day, and while we paid other roads some $400,000 for use of $99,200 08 their cars we lost unknown amounts in traffic by not having 112,349 19 cars when traffic was offered, or by not being able to con196,874 25 on the Wabash proper. were as follows: The principal items of increase vision, leaving $384,176 93 increase Engineers and Firemen Fuel for Locomotives Repairs to Engines (lnoluding new engines) Repairs, E.& M.S., W..W.& O. Stations Tools and Machinery and new Tools Incidentals (Buffalo Division Import Duties) Wipers, Hostlers and Dispatchers orders," any route shipper desired. The value of the new equipment is already apparent in the movement of new grain, and although some 800 new cars are now in service, we are still short on orders. It must not be assumed that the large expenditure for new The total amount expended for repairs of engines (includ- cars and locomotives was all in excess of the requirements ing $197,261 85 paid for new engines) was $996,769 58, equal of maintaining equipment. I estimate that from $450,000 to $2,323 00 per engine for 429 engines, the average number to $500,000 per annum would be required to make good the on hand during the year. This is $398 (JO per engine in ex- depreciation of locomotives, cars, etc., so that our expenditures during the past year on this account have not been cess of the average per engine last year. the fiscal more than $300,000 above what our normal expenditures We received, during the first five months offreight and should be. year, 8 eight-wheel passenger engines, 28 mogul Des the to allotted were of these Ten engines. switching 4 Car and Engine Trusts. Moines Division and charged to the Construction Account June 30tb, 1900, the car and engine trust notes outstandof that division. ing were as follows The total oost of theEe 40 engines, not including 9,126 30,300 6,599 9.775 33 08 08 82 interest, $402,887 99 Construction Division Moines Des to charged Engines 10 100,014 28 Account wft8 $302,873 71 Balance, for which 60 monthly notes were given On June 30th, 1900, there were 52 monthly notes outstanding, each $5,071 88 $263,737 76 Nearly 50 per cent of the engines on hand July went through the shop for general repairs, 1st, 1899, and 72 per cent repairs. These per cents are away above the average for such repairs, and show the "building up" of our motive power that is going on. for heavy CAR DEPARTMENT. The expenses of this trol the cars via department for the year were, as last Charles Oar Company, Contract June 28, 1998, 39 notes (last onedue September 24, 1903), each $4,696 18.. $183,151 02 Missouri Car & Foundry Company, Contract June 28, 1S98, 41 notes (last one due November 5, 1903), each $4,696 18 193,543 38 Engines, St. Louis Trust Company, 52 notes (last one due St. November Total away above the normal —first, on account of the charging out amount carried in suspense for new dining ; 1,623 28. We equipped with the Gold system of steam heat 168 passenger cars, all classes, making 272 now so equipped. During the year we expended $24,483 59 for steam heating. We equipped three passenger cars with Pintsch gas, at a cost of $735, making a total of 115 cars now so equipped. Automatic couplers were applied to 1,639 freight cars and air-brakes were applied to 622 cars. This does not include couplers and air-brakes for new equipment. All of our freight equipment is now supplied with automatic couplers and about 51 per cent supplied with air-brakes. In the application of automatic couplers and air-brakes we expended about $73,000 during the year ending June 30th, 1900. In March, 1900, contracts were entered into for 3,000 thirty ton box cars, 36 feet long in clear, and for 500 forty ton coal cars, all to be delivered by September 1st, 1900. They are now being received rapidly, and all will be on hand by about the 1st of September, as per contract. They are all built to modern standards, steel bolsters, air-brakes, automatic couplers, draft rigging and large dimensions. The contracts provide for payment in 72 equal monthly notes, interest at 5 per cent, with option of anticipating payments. IS 04), each amount $5,07188 263,757 7g trust notes outstanding $639,452 16 In addition to the above we have an operative contract with the American Car & Foundry Company for 500 box 500 coal and 200 furniture cars, on a mileage basis, running to July, 1909, when the mileage payments will be complete and the cars belong to the Wabash Company. On this account the monthly mileage payments are $7,194 76. IMPROVEMENTS AND ADDITIONS TO THE PROPERTY, year, cars and coaches second, putting on of safety appliances, couplers and air-brakes, steam heat, etc.; tbird, new freight cars, and fourth, postal ana combination cars. The total amount on account of these items was $741,557 15. Gould vestibules were applied to 5 coaches, making 97 coaches, cnair, dining and combination cars now so equipIn the application of these 5 vestibules we spent ed. 1, $420,525 50. The items included under this head are given in detail in other portions of the report, but are so scattered in the different reports that the aggregate value and importance of the work is not fully understood until attention is called to it. Additions. Real Estate $11,616 59 New yards, 140,20117 23,247 07 31,739 17 15,392 92 Double tracks, spurs, eto track, Bement to Decatur New Shops, Stations, Buildings, New Interlocking Plants eto $222,196 92 Improvements. Reducing Grades and Removing Curves Filling Trestles, Wooden Iron Bridges in ones, River Protections, tions enlarged, etc New Shop Machinery place New $55,719 56 of Sta- 133,999 29 8,609 73—198,328 53 $420,525 50 In addition to these items of expenditure to improve the property, there have been great improvements made in the condition of the property, and considerable sums expended in the way of heavy rails, frogs, switches and track better- ments. As shown by the foregoing statistics, there was no let-up improvement which has been in force since the reorganization in 1889. While large sums have been and are being expended annually in this direction, it is the GENERAL REMARKS. aim of the management to make these expenditures in such The most salient items of expenditures in this report are, directions as will secure the best and quickest results in increased traffic, reduction of expenses and increased safety first, "Equipment," and second, "Improvements of the of operation and that such results have been secured, at Property." least to a moderate degree, is shown by the large increase IQUIPMENT. in both freight and passenger traffic, increase in car and $772,057 15, divided as follows train load, and decrease in cost of handling traffic on the The average earnings per ton mile for the basis. ton-mile $379,137 60 Cars Freight New 90,456 06 past year were less than the cost per ton mile for the year New Passenger, Combination, Postal and Dining Cars 197,261 85 ending June 30th, 1895, the cost per ton mile for 1900 being New Locomotives 25 per cent less than for 1895. New Safety Appllanoes, Air-Drakes, Automatic Couplers, The reduction of grades at Boody Hill and Cerro Gordo 105,201 64 Steam Heat, etc in the policy of ; : $772,057 15 Total this account will, during the year by the payments necessary under increased greatly 1901, be the contract for the 3,000 new box and 500 new coal cars. The expenditures on will be this year New cars, $46,899 86; locomotives, $5,071 88, an increase of $21,117 91 per The monthly payments : month. In considering these increases in expenditures, we must not forget that these new cars will largely inci ease our revenues and decrease the amount we pay other roads for The Wabash Company has the use of their equipment. f always been "short' in car equipment, always a borrower from competitive as well as friendly lines, and while in "lean" years it managed to get along, in years of heavy grain or other traffic, it was forced to look to other roads for cars, and of course got them only where the owner could spare them, and as a result the Wabash has lost enormous tonnage for want of cars during rush periods. Uars must te provided when wanted by the shipper, or the traffic is lest. from 49 to 21 feet per mile will make the capacity of every engine operating over these districts about 30 per cent greater, and the double-tracking between Bement and Decatur will considerably reduce the "overtime" paid to men and delays to trains. While gross earnings were large for the year just ended, the present year promises a good increase; rates are bettor maintained and are slightly higher than a year ago, and the crops tributary to the Wabash are large. The corn crop tributary to our line is reported twenty per cent better than last year, and last year we carried neaily 1,000,000 tons of corn. The wheat crop west of us is heavy, and is beginning to move at fair rates. The reduction of prices for iron and steel will largely increase orders for building supplies, and tbe termination of the long strike and lock-out between building contractors and labor unions at Chicago and other points, and the outlook for a long treaty of peace between train these interests, promises well for traffic in building material. The reduction in prices will prove a double benefit, ncreasing traffic and reducing expenses. : September 1, : THE CHRONICLE. 1900.] 441 CHICAGO GREAT WESTERN RAILWAY COMPANY. EIGHTH ANNUAL REPORT-FOR THE FISCAL YEAR ENDING JUNE To the Shareholders The Directors submit the following report During the year the Company has operated 929-51 miles, which is the same as in the preceding year, and the figures of the last year are given for comparison : Preceding I ear. $ This Tear. The Gross Receipts from all $ Increase. $ 6,721,037 06 5,867.739 78 833,297 28 sources have been Operating expenses have been.4,490,223 01 3,943.516 45 546,706 56 Expen's. 2,230.8 )4 05 Balance over Oper. * 204.000 CO Taxes 1,924,223 33 2,026,814 05 7,230 73 Gross Receipts per mile 4,830 74 Operating Expenses per mile. 219 47 Taxes per mile 2,180 52 Net Earnings per mile Operating Expenses to earn6681 ings, percentage 1,720,223 33 6,312 72 4.V42 58 Net Earnings 306,590 72 204,000 00 306,590 72 918 01 588 16 219 47 1,850 67 329 85 67-21 Dec. 0'40 in price of coal alone added $61,556 to the cost of operation, which is 9 10 of one per cent of the gross earnings. At last year's prices of coal, the percentage of expenses to earnings would have been 65*91, against the 67-21 of the previous year, a decrease of 1*30 per cent. The Gross Receipts have increased 14-54 per cent. The Operating Expenses have increased 13-86 per cent. The Net Earnings have increased 17-82 per cent. The Freight Earnings have increased $653,252 60, or 14-60 The advance per cent. The Passenger Earnings have increased $184,889 01, or 15-74 per cent. The other earnings have increased $15,155 67, or 6-96 per cent. CAPITAL. AND CAPITAL. EXPENDITURES. MORTGAGE DEBT. June 30, 1899, the Company had outstanding a mortgage indebtedness known in the accounts as the "Five per cent Sterling Priority Loan of the Chicago St. Paul & Kansas City Railway Company," amounting to $2,823,150, which was the only mortgage indebtedness of the Company. According to the terms of this loan the Company had the right to retire it on any interest paying day at 105, at which price it required $2,964,307 50 to pay the loan. The loan was paid on the first day of January, 1900, from the sale of $3,300,000 of Four per cent Debenture Stock at 90f/2 and accrued interest, realizing $2,986,500, $22,192 50 more than enough to pay the loan, which has been used in payment of additions and improvements for the year. The exact amount of Four per cent Debenture Stock which was consumed in the conversion of the Priority Loan was $3,275,478, the interest on which is $131,019 12 Ser annum. This conversion has therefore reduced the xed charges of the Company ranking prior to the Four per cent Debenture Stock $141,157 50 per annum, while it has increased the interest on the Four per cent debenture Stock $131,019 12, making a net decrease in fixed charges of $10,138 38 per annum. The Company has now no mortgage At the end of last year, The permanent capital of the Company is represented entirely by stock. Jt has never issued bonds. The capital stock is divided into four classes, stated in the order of their preference, as follows: (1) Four per cent debenture stock, which partakes of the nature of both stock and bonds. As a stock it participates in the management by voting at stockholders' meetings in all respects the same as other stocks. Like a bond, it bears a fixed rate of interest of four per cent per annum, payable semi-annually, in gold. It is a perpetual security, not terminable like a bond by lapse of time. (2) 5 p. c. preferred stock A, which also participates in the management by voting at stockholders' meetings the same as the other stocks of the Company. It stands next to the Debenture Stock, and is entitled to a dividend, when 1900. Under the laws, the management of railway companies is vested in a board of directors, who are elected by the stockholders. As most American railways are constituted, the stock represents the smaller, and the bonds represent the larger, proprietary interest, but the bonds have no voice in the management. Under the organization of this Company the management of the details of operation is in the Board of Directors, but the Board of Directors is elected by the wbole body of the proprietorship, as all classes of stock have an equal vote in electing the Directors. The interest rights of the Four per rent Debenture Stock, and the special dividend rights of the Preferred Stock A, are secured by a deed of trust and contract between the Company and the Manhattan Trust Company of New York, as Trustee. This trust deed and contract defines the respective rights of each class of stock, and is a mortgage security for the interest rights of the Debenture Stock and the dividend rights of the Preferred Stock A. Among other things, it provides for an annual meeting of tne Debenture and Preferred A stockholders collectively, to elect a Finance Committee, consisting of five of their own members. The Finance Committee have an absolute veto power on the action of the Directors involving the issuing of new securities and the making of expenditures of money, except for operating expenses. The modus operandi of making improvements and additions requiring increased capital is as follows: The Directors take the initiative by making a statement of such improvements and additions as they deem it advisable to be undertaken, with an estimate of the cost, and proposing a method of providing the funds. This statement and estimate is then submitted to the Finance Committee for approval, and such items as the Committee do not approve cannot be undertaken. Thus it is seen that the judgment of two independent boards, the Board of Directors and the Finance Committee, must concur in the wisdom of expendito res, except for operatin g expen ses, before they can be made. The Committee has authority to appoint its independent auditor, who has no connection or relation to the Board of Directors, who makes periodical examinations of the accounts of the Company and reports directly to the Committee. Mr. Stephen Little, of New York, is at present the Committee's auditor. But notwithstanding the concurrence of the Board of Directors and the Finance Committee, no additional Debenture or Preferred Stock A can be issued until authorized (1) By a vote of two-thirds in amount of the Debenture Stock, Preferred A, Preferred B and Common stockholders, collectively, at a meeting called for that purpose, of which each stockholder must have notice by publications in newspapers, and by notice mailed to each stockholder, at least sixty days in advance of the meeting, stating specifically the purposes for which such meeting is called. (2) By a vote of a majority in amount of the Debenture and Preferred stockholders, attending a separate meeting of those two ckvses of stockholders, collectively. : A STOCKS OUTSTANDING. indebtedness. CAPITAL STOCK 30, The amounts of the various classes of stock outstanding on the 30th of June, 1899, and the 30th of June, 1900, and the increase (or amounts issued during the year), are as follows: Slock.— June 30, 1899. June 30, 1900. Increase. Debenture Stock $12,435,135 $16,681,033 $4,245,898 Preferred Stock "A" Preferred Stock " B " Common Stock Total The 11,178,540 7,468,090 21,238,045 11,303,900 7,468,090 21,308,145 125,360 $52,319,810 $56,761,168 $4,441,358 ; 0,100 Debenture Stock which has been issued during the year has been used as follows: $4,245,898 of For convf rsion of the Priority Loan as hereinbefore stated $3,275,478 For exchange of First Mortgage Bonds, under the plan of reorganization 6,000 For retiriDg $80,226 96 of oar trust obligations bearing 7 per cent interest and $83,589 34 bearing 5 p. o. interest. For additions and improvements 200,000 764,420 earned, not exceeding five per cent per annum, payable $4,245,698 semi annually. The dividend is not cumulative, but, unlike The annual interest on the entire $4,245,898 issued during the year is ordinary preferred stocks, the payment of a dividend in $169,835 92 each half-year, if earned, is not left to the discretion of the The annual Interest on the Priority Loan, which has been retired, was $141,157 50 Board of Directors. There is a specific contract in each The annual interest on the car trust liabilities stock certificate to the effect that the dividend must be paid retired was 9,795 35 whenever earned. Making the total saving in annual interest charges $150,052 85 (3) 4 p. c. preferred stock stands next to the Preferred Stock A, and is entitled to a dividend, not exceeding And the total increase in annual charges by reason of issuing $4,245,898 of Debenture Stock only four per cent per annum, in preference to the Common $18,883 07 Stock. The preference is in the usual form of the preferred That is to say, by these operations the Company has restocks of American railways. It also participates in the ceived the proceeds of $764,000 of Four per cent Debenture management by voting at stockholders' meetings, the same Stock for additions and improvements, with an increase in as the other stocks of the Company. fixed charges of only $18,883 07, equal to about 2 1-3 per (4) stock, which is entitled to such dividends cent per annum. as the net earnings of the Company will justify in each The $ 25,360 of Preferred Stock A which has been issued year, after paying or providing for the interest on the De- during the year has been used as follows benture Stock and the dividends on the Preferred Stock A For exchange of First Mortgage Bonds under the plan of re$7,200 and Preferred Stock B. It also participates in the manageorganization .118,160 ment by voting at stockholders' meetings, the same as the For additions and Improvements ther stocks of the Company. $125,360 B Common : . THE CHRONIOJL& 442 The $70,100 of Common Stock which has been issued during the year has been used for exchange of Common Stock and Income Bonds of the Chicago St. Paul & Kansas City Railway Company, in pursuance of the plan of reorganization. INTEREST AND DIVIDENDS PAID ON STOCK DURING THE YEAR. Two semi-auiiual interest payments of 2 per cent each, 4 per cent Debenture stock, making 4 per cent $568,680 for the year, amounting to Two 8t-mi-»m ual dividends of 2^ per cent each, on the Preferred Stook A, making 5 per oent for the year, 568,6 20 7. amounting to on the 50 00 $1,137,270 50 INDEBTEDNESS. The following is a statement of the entire indebtedness of the Company, except current accounts pertaining to operation, on the 30th day of June, 1899, and the 30th day of June, 1900: Priority Car Trust Loans Liabilities Total * June 30, 1899. June $2,823,15000 Loan 30, 1900. Decrease. [Vol. lxxi, trust liability of $48,237 50, bearing five per cent interest, now reduced to $40,685 96. There has been paid on account of these various liabilities during th- fiscal year $163,816 30. Therefore, on account of the equipment purchased on the car trust plan, which cost $2,401,872 80, there has been paid $1,092,250 17, leaving a balance due represented by equipment le«se warrants on the 30th of June, 1900. $1,309,622 63. All car trust liabilities have been promptly paid at maturity. ADDITIONS TO ROLLING STOCK. During the fiscal year the Company has increased its rolling stock by the purchase of ton locomotives, 00 gondola cars, 78 box cars, one baggage car, and has continued the process of equipping its rolling stock with automatic couplers and air brakes to such an extent that the whole is now equipped with automatic couplers .-and 78 percent with air brakes, thus fully complying with the law of Congress upon the subject. The amount which has been expended in increasing its rolling stock as above stated is $259, 77 23, of which $210,939 73 has been paid in cash, and $48,237 50 in ' 1,425,20143 $1,809,622 63 3,937,12114 3,566,072 29 $2,823.15000 115,578 80 *37 1,048 85 car trust liabilities. The amount paid on car trust liabilities stock purchased is $374,755 03. $5,246,743 77 $2,567,679 95 ADDITIONS AND IITCPKOVETIENTS TO NENT PLANT. $7,814,423 72 Increase. The total indebtedness of the Company, therefore, at the end of the piesent fiscal year is $5,246,743 77, which will be retired at maturity from the proceeds of Debenture Stook which has already been authorized, and of which $1,202,900 The conversion of is now in the treasury of the Company. this indebtedness into Debenture Stock will materially reduce the fixed charges. ANNUAL RENTALS PAYABLE. The Company owns all its terminal grounds, yards and except in the city of Chicago, where the principal part of its terminal property is a lease-hold estate, and except in Des Moines, where a small part is lease- facilities in fee simple, hold. and for rolling THE PERMA- There has been expended during the tions and improvements the detail in pamphlet report]. sum fiscal year for addiof $1,028,273 31 [given in TERMINALS. When the line was constructed, about two and a half acres of expensive land, covered with buildings, were purchased in Kan -as City at the enormous price or about $1(0,000 per acre, for freight terminals. Later on another detached piece of land was purchased for an elevator site and freight yards. But the increase of business at Kansas City has made these yards entirely inadequate, and by reason of their inadequacy the terminal work at Kansas City has been done at an unreasonable cost, besides necessitating the payment of large sums to other companies for switching. About a year ago the Company succeeded in contracting for the purchase of about twenty acres of land favorably situated, on which it is now constructing terminal yards which, when completed, will equal in capacity and location the terminal facilities of any other company in Kansas City. The land was purchased at the exc edmaly low price of $5,000 per acre, and a contract has been made for grading at about $3,000 per acre, making the total cost of the land when ready for the tracks about $*<,000 per acre, against $100,000 per acre paid for the purchases of years ago. As it was found necessary to perfect some of the titles by condemnation proceedings, and the legal right of the Company to condemn lands in Kansas City was doubtful, the Terminal Railway Company of Kansas City was organized for the purpose of procuring and holding the title. All the stock of the Terminal Company is held in the treasury of this Company. Payments on account of the purchase price and for grading have been made to the extent of about $9i,000, and the grading has so far progressed that tracks are being laid to meet the immediate necessities of the Company in the large business which is now coming to it at that point. The yard when completed will be about 3,700 f*-et long and 500 feet wide at the widest part, and will embrace several miles of sidetracks, a roundhouse and warehouses. Through this yard connections will be made directly with several important industries and with other lines of radway, thus saving the payment of switching charges which it is estimated will nearly, or quite, equal the interest upon the whole investment But its principal justification will result from increased business and reduction in cost of operation. After the jard is completed the expensive land first purchased may be sold as opportunity offers. The Company holds a lease from the Chicago Terminal Transfer Railroad Company, running for 99 years, with the privilege of renewals without re- valuation, which gives it the unlimited use, in common with other lessees, of about eleven miles of double main track of the passenger station and all the side tracks leading to industries also, the exclusive use of a freight house and accompanying tracks of a freight yard containing tracks for team delivery of a freight terminal yard one mile long and eight tracks wide for making up trains, standing freight cars and transferring freight a roundhouse, turntable, coal shed, etc. of 4,000 feet of side tracks for standing passenger cars, with facilities for cleaning and small repairs; of 88,473 square feet of, at present, unusued land located in the heart of the city, which is held as a reserve to accommodate increased business, and 1,320 lineal feet of dock frontage on the Chicago River, accessible for steamships navigating the Great Lakes. The Company's use of this vast property is as full and complete as though it absolutely owned the whole of it. Instead of paying all the taxes, repairs and renewals, which it would have to pay if it was the owner, it only pays an equitable proportion. Instead of paying interest on the total cost (about $20,000,000), as it would have to pay if it owned the whole of it, this Company pays an annual rental equal to 5 per cent on less than $1,000,000. The lease antedates the mortgages which have been issued by the Terminal Company, and therefore can never be disturbed by possible financial disasters which may result in the foreclosure of such mortgages. This lease-hold estate including the reserve, is sufficient to accommodate several times the present volume of traffic, and is regarded as a valuable asset of this Company in excess of its rental cost. At Des Moines the Company owns much the lar er part of its terminal facilities, but leases passenger facilities at the union passenger station, and yards and warehouses in the During the year the Company has leased from the School heart of the city for local freight deliveries. Trustees a strip of land adjoining its present terminal yard The following is a statement of all the rentals payable in the outskirts of Chicago, a mile long and 150 feet wide, 1899. 1900. Increase. embracing about twenty acres, and has agreed to purchase 186,620 641192,072 97 5,452 33 the same on or before the 4th day of November, 19"1, at the For Chicago Terminals 11,11583 12,58168 1,465 75 price of For Des Moines Terminals $2,500 per acre. On this land the Company has laid 30,000 00 30,000 00 For Dubuque Bridge For Running Powers on 71*78 mlles.135,470 75 135,706 83 236 08 several miles of side track, which will tend to relieve the freight blockade which occurs at Chicago in the heavy busi363,207 22 370,36138 7,154 16 ness of each returning autumn. No progress has Total been made The increase in the rental of Chicago terminals is due to in the erection of the contemplated warehouses at Chicago, increased facilities leased during the year. The increase in which would also relieve the congestion of the autnmn busirental of Des Moines terminals is due to the completion of a ness, by furnishing quicker discharge of cars, for the reason The slight increase in rental that the labor strike among the building trades, which has fine new passenger station. for running powers is simply an adjustment of account?. continued all summer in Chicago, has prevented it. No contractor in Chicago could be induced to undertake it. ROLLING STOCK AND OAR TRUSTS. OPERATION. The Company owns rolling stock free and clear of incumbrances, which cost $2,799,019 49 DETAILS OF OPERATING EXPENSES AND RENEWALS. It has also bought equipment at various dates 1900. 1899. on the car trust plan, amouming to 2,401,872 80 Repairs of Road and Track $503,69120 $ 420,3.B'3 54 126,177 60 120,^8092 The Company when it took over the property of the Renewals of Ties Renewals of Rails 15.61116 29,270 61 Kansas City Paul Company St. & assumed Chicago a car Repairs and Renewals Bridges and Cultrust liability amounting to $1,723,430, bearing 7 per cent 52,«74 27 60.496 84 verts 64,2<>3 70 44,238 74 This has been reduced to $886,490 67. On May Repairs and Renewals Buildings interest. Repairs Fences, Road Crossings, Signs 25, 1896, the Company created a car trust liability of $100,22.844 08 14.645 45 and Cattle Guards 000, bearing six per cent interest, now reduced to $70,000. Repairs and Maintenance Telegraph 24,914 24 7,680 45 7,732 32 7,0.! 1 15 In April and May, 1899, it created car trust liabilities Suow Fenoing and Shoveling amounting to $396,970, bearing five per cent interest, now Repairs and Renewals Locomotives and 285,478 05 252,267 27 Tenders reduced to $312,440, and in January, 1900, it created a car Repairs and Renewals Passenger Cars. 78,260 21 64,717 58 ; ; ; ; ; ; : . —— 4 . September THE CHRONICLE. 1, 1900.J 1900, Repairs and Renewals Freight Oars Repairs and Renewals Shop Tools and — . Machinery v„--v; W. & T., Shop Tools and Machinery. and Engine Shop at Lights Fuel and Houses Fuel for Locomotives .... Water Supply O. W. T. and Other Supplies lor Loco's.. Engineers, Firemen, Wipers and Dis- O. . — patchers Conductors, Brakemen and — PasseDger Conductors, Brakemen and 1,003 38 392,273 11 81,025 41 79,646 36 218,64180 128,31191 45,530 02 12,768 11 11,391 t-9 189,200 39 38,426 55 34,989 07 7.596 99 IP. 152 26 12,375 86 194,628 33 103,448 60 45.714 57 25.459 OS 10,085 24 90,«12 34 24,278 84 14.216 32 50,4 4* 12 324,405 59 11,148 05 86.H89 92 34.460 1 101,090 06 31,058 01 t0» 56 40,69/ 43 11,100 00 155.171 8 36,-8=>20 10.601 fe2 1 0,530 09 177,399 81 28.860 10 41,019 71 4,564 59 17,622 50 10,269 11 $4,490,223 01 1,943,516 45 Baggagemen 27,537 56 5,4b8 94 96,6 2 1 2 22,091 3i> 15,432 63 44,497 44 346,013 06 16,117 16 142,736 18 37,8 c 9 29 125,896 37 30,665 47 '45,510 42 10,800 00 154,6*9 39 — 37,4 36 66 oierks.-... General off! e Expenses and Supplies Legal Expenses Office Expenses Office Expenses York Miscellantous Total 28 07 62 60 MAINTENANCE OF THE PERMANENT WAY. There has been expended for maintenance of permanent $817,5*8 47. against $704,687 70 in the previous year, an way increase of $112,850 77. The Company's proportion of all the somewhat extensive improvements which have been made to the lines on which it has running powers, including the replacing with a much heavier steel superstructure of the bridge over the Mississippi River at Dubuque, has been charged to expenses. NEW RAILS. The company, during the fiscal year of 1899, purchased and laid in the track 10,000 tons, and during the present year has purchased 10,000 tons additional, of 75-pound which are now being laid in the track, making for the two years 169 miles of track relaid with heavy steel rails. The small amounts which appear in the accounts as charged to renewal of rails in the two years grows out of the fact that the rails purchased for use in 18t»9 were purchased at a price of $19 00 per ton, but, before they were laid in the tracks and the old rails let loose, the price of rails had advanced to such an extent that the old rails sold at about $10 00 per ton more than the new rails cost. The process of laying rails is going on, and by the end of November of this year the entire line from Chicago to Oelwein. a distance of 240 miles, which carries tbe thickest traffic, will be relaid with heavy steel rails. This rapid renewal of rails is foced up n the company by competition rather than by due regard to economy. The rails which have been taken up were so nearly perfect that they have been eagerly purchased by non-competitive lines for re-laying rails, and a due regard for economy would have required they remain in the track for several years longer. fiscal steel lails, MAINTENANCE OF EQUIPMENT. There has been expended for maintenance of equipment $618,311 99, against $556,426 17 in the previous year, an increase of $6 ,885 82. The expenditure this year is equal to 11*8 per cent of the entire cost of the equipment, and something oyer nine per cent of the gross earni- gs. The large expenditures which have been made in the last three years for repairs and maintenance of equipment have placed the entire motive power, passenger coaches and freight eqnipment in first class condition. During the year one baggage car, seventy-two box cars and seven caboose cars have been purchased, and charged to maintenance to make good equipment which has been destroyed and not rebu It. The equipmt-nt having thus been brought to a high standard of efficiency, with the facilities which are now [obsessed in the Oelwein shops, it can reasonably be expected that th« equipment can be maintained in the future with reduced 1 expenditures. COMPARATIVE STATISTICS. Showing the relative economy in the movement this year compared with last year. Freight— 1E99. 1800. of trains Incre'ie. P.c.Inc. Total freight earnings $4,475,406 $5,128,658 $653,252 1\ umber miles run by freight trains.. 2 390,481 2,707,988 317,507 Wages of freight conductors and brakemen $194,628 $218,641 $24,013 Passenger — earnings of passenger trains, including mall and ex8 $1,361,469 $1,557,759 $196,290 vJ£?k -V, Number miles run hy passengertrains 17,376 2,C59,085 2,076,461 *8e soi passenger conductors and brakemen $1,379 $81,025 $79,646 14*6 13-3 123 Total — The cost of fuel consumed and the wages of engineers and firemen have not been distributed between the passenger and freight trains. The increase in ti e-e two items must therefore be compared with the total earnings. 1899. 1900. Incre'se. P.c.Inc of passenger $5,836,876 $P,686,417 $849,541 14-5 and freight trains Wages of engineers and firemen. $392,2" 3 $436,015 $43,742 111 47l,h04 2«-9 Costof coal consumed. 608,0 8 136,224 309.268 46,e05 15-1 Tons of coal oonsumed 355,873 $1-525 $1-698 11*3 A* erage cost per ton of coal. $0173 I,7zl,b54 2,340,965 619,111 35*9 Tons of freight oarried Total earnings . Freight Car Mileage Trackage... Switching Charges Superintendence Rental of Locomotives Stationery and Printing Insurance Outside Agencies Advertising. Expenses of Trafflo Associations Expenses at Stock Yards aud Elevators.. London 12.403 58 436,015 53 Baggagemen Injuries to Persons Station Service Sleeping and PaeseDger Car Mileage New 14,829 72 1,515 06 14,5*7 471,804 27,1«9 18,445 Train Supplies Station Supplies Dining-Car Expenses Opera' ing relegraph Loss and Damage to Freight and Baggage Damage to Property and Stock and 189«. $211,49" 03 23,515 08 608,028 05 29,294 « 2 23,300 07 —Freight Switchmen, Flagmen and Watchmen Salaries of Officers $214,713 87 443 14-4 -8 1-7 . The increased price of coal has added $61,566 to the cost of operation, equal to nine-tenths of one per cent of tbe gross earnings. The increase in price, together with the large increase in freight tonnage moved (35 9 per cent) is a sufficient explanation for the increase in coal, both in respect to c< st and tons. The table shows that in the movement of trains the lin*» has been worked with considerable economy over the previous year. - THE BUSINESS OUTLOOK. The gross earnings of the line having increased 15*07 per cent in 1898, 8 94 per cent in 1899 and i4*54 per cent in the present year, the question naturally arises, Will the next year also show an increase ? For several years prrces of manufactured goods have been advancing, and in 899 the prices of such goods, more especially the products of iron, had been forced by unrratural methods to such a height that it became evident that they must recede to their natural level. All at once the evident truism that "prices cannot advance forever" seemed to be on all tongues, and this catch phrase, more than anything else, seemed to affect the opinion of the public in regard to prices. Then it was said that if "prices cannot increase forever," "railway earnings cannot in rease forever," which seemed to be retarded as equally conclusive. Based, to a large extent, on this fallacy in reasoning, at the beginning of June there was a widespread feeling that the t affics of railways wonld be at a standstill in the new fiscal year, if they drd not actually decrease. The merchants partook of the forebodings of the public mind, and curtailed their orders for merchandise, and for a few weeks in June, and the early days of July, there was a decided tendency of west-bound or merchandise traffics to fall off. This tendency seems, however, to have reached the turning point about the 20th of July, and so far as the traffic of this Company is concerned amounted to only about six per cent of the west-bound business of one month. Since the 20th of July the tide has turned, and has been followed by a substantial increase in the west-bound merchandise traffic compared with business of the same period in the previous year. The merchants have found that even the people of northern Minnesota and the Dakotas are not prepared to reduce consumption while they have money in their pockets, because, perchance, they have lost half of their expected crop of wheat, while the half which they have saved promises to bring larger prices, and the rest of their crops is fairly abundant. It is evident that increased prices and increased traffics rest upon different bases. Prices are governed by the relation of supply to demand, the cost of production being the controlling factor in the long run. An increase in production which might tend to reduce prices would have a certain tendency to incr ase railway traffic. Increased population, increased capital and increased efficiency of laborsaving devices, all tending to reduce prices, are the producers of increased railway traffics, and as long as population and capital increases, railway traffics must increase. The first Census of the population of the United States was taken in 1790, and there has been a Census taken at the end of each subsequent ten years. The increase for a hundred years has been, with remarkable regularity, at the rate of about 30 per cent for each decade, compounded at the end of each ten years. The increase of capital has b^en more rapid. The statistics of the aggregate earnings of the railways of the United States have been tabulated since 1871, and show as uniform increase by decades as the population, but at two and a half times the rate, or 75 per cent increase in each decade, compounded at the end of each ten years. The increase by years has been almost as uniform as by decades. In only four years (1876-1877, le84 and 1894) have the aggregate ^rnings shown a decrease in comparison with the preceding year, and in every other year the aggregate earnings have increased. There are no such conditions threatening the immediate outlook of railway earnings as preceded in the four years of decreases. But the history of any particular line does not justify the expectation of such certainty or uniformity of increase. Both internal and external conditions affect the earnings of the particular lines. If the particular line is starved to such an extent that its facilities, motive power and ca s do not - 1 increase, its traffics must of necessity remain at least stationary, and will probably decrease. "So the partial failure of a single crop, like the wheat crop in Northern Minnesota and the Dakotas in the present year, may affect the particular railway disastrously, while the area is too insignificant, compared with the vastness of the whole country, to perceptibly affect the aggregate railway earnings. The shortage of 100,000,000 bushels of wheat will necessarily reduce the freight earnings of the spring-wht-at-carrymg lines, but the lines of this company are so situated that it THE CHRONICLE. 444 GENERAL BALANCE SHEET, REVENUE ACCOUNTS, JUNE 30, 1900. CURRENT ACCOUNTS RECEIVABLE. has never participated, to any appreciable extent, in the carrying of wheat from the Northwest except in the form of flour. The great flouring mills of Minneapolis must continue to make flour. If the usual supply of wheat is curtailed, the shortage will be made good from the abundant harvests of the Southwest, in the transportation of which, this company, having the shortest line between Kansas City and Minneapolis, will be an important factor. Instead of hauling flour from Minneapolis to Chicago only, it will haul wheat from Kansas City to Minneapolis and the resulting flour from Minneapolis to Chicago— two hauls instead of one. Besides, the local harvest of the territory immediately adjacent to the line, which is always good, is this year Due from agents and conductors Due from individuals Due from other railway companies Interest accrued on securities owned Bonds Minnesota Transfer Ry. Co. Cash on hand Supply of fael and material on hand will not be delivered within the contract period, but, notwithstanding, the Company will have increased its carrying capacity from 15 to 20 per cent over last year, and, from the present point of view, there seems to be no reason why the fiscal year ending June 30, 1901, should not record another advance in earnings equal to the increase of the present year. I This expectation seems to be sustained, in a measure, by the fact that at the time of writing this report, six weeks of the new fiscal year have elapsed with an increase in gross earnings of 14-30 per cent. The percentage of increase in the six weeks (14-30 per cent) is almost exactly the average percentage of increase (14-54 per cent) of the present year. The Directors take pleasure in expressing their appreciation of the faithful and intelligent services rendered by the General Manager and other officers in charge of operations, and by the employes, during the year. By order of the Board of Directors. A. B. STICKNEY, President. GENERAL BALANCE SHEET, CAPITAL ACCOUNTS, JUNE 80, 1900. ASSETS. Cost of Rolling Stock owned 2,799,019 49 Cost of Rolling Stock purchased on oar trusts 2,401,872 80 Joseph Elevators Due from capital accounts Cash Deposited to pay- ____^___ Interest on Sterling Loans $17,852 12 Dividend on 4 per cent Debenture Stock, payable July 15, 1900 333,472 00 Dividend on 5 per cent Preferred Stock "A," payable July 31, 1900 282,542 50 ^— —^— _—^ — Ry Bonds and Stocks of Other Companies. .. Cash with London Finance Committee... Accounts Receivable 214 00 $2,230,063 50 CURRENT ACCOUNTS PAYABLE. Interest maturing on bonds Minnesota Transfer Ry $3,537 78 Rental accruing to Northern Pacific Ry. _°° : 17.768 03 73,098 71 Payrolls 245,726 80 \ ouchers and current accounts 1,059,063 07 Coupons on C. St. P. & K. C. Ry. Co.'s First Mortgage Bonds, unpresented 75 00 Mileage tickets outstanding 2,750 14 Insurance collected not expended 7,102 20 Interest maturing on Sterling Loans 59,177 17 - Taxes accruing, estimated 617,767 00 Interest due Jan. 15, 1893, to July 15, 1900, on 4 per cent Debenture Stock, not yet issued but issuable under plan of reorganization, in exohange for one First Mortgage Bond Dividend due Jan. 31 and July 31, 1899 and 1900, on 5 per cent Preferred Stock "A," not yet issued but issuable under plan of reorganization, in exchange for one First Mortgage Bond ... $16000 54 00 214 00 143,783 60 $2,230,063 50 85,00000 56,694 44 W. B. BEND, Auditor. INCOME ACCOUNT FOR THE YEAR ENDING JUNE 94,185 10 347,633 17 255,754 07 190 79 84,300 52 Operating Expenses and Taxes Rental Chicago Terminals Rental Des Moines Terminals 62,355,786 14 LIABILITIES. 17,876,500 00 7,432 99 $4,694 223 01 204 654 55 Rental Dubuque Bridge Rental of Lea ed Lines $30,000 03 135,706 83 Interest on Equipment Lease Warrants 'Interest on C. St. P. & K. C. 5 per cent Sterling Priority Loan, six months Interest on this Company's proportion as joint owner of the Bonds issued by the $33,569 52 St. 17,883,932 99 1,202,900 00 Less in the Treasury Debenture Stock and Sorip Outstanding 16,681,032 99 11,371,800 00 5% Preferred Stock A Less in the Treasury 67,900 00 Preferred Stock A Outstanding 11,303,900.00 4% Preferred Stock B 7,489,190 00 Less in the Treasury 21,100 00 Preferred Stock B Outstanding... 7,468,090[00 Common Stock 21,308,145 00 Total of Stock Liabilities. 56,761,167 99 7% Equipment Lease War- K. C. Rr. Co 886,496 67 6% Equipment Leaso Warrants, C. G. W. Ry. Co 5% Equipment Leaso War- 1901 Sterling U.S. Currency.. 5% 1,281,054 10 ~ Freight Earnings Passenger Earnings Mail Earnings Express Earnings Rental Earnings Miscellaneous Earnings $5,128,658 1,359,907 111,527 86,323 5,550 29,058 75 72 69 79 51 60 1 £2CO,000 969,696 96 £100,000 484,848 46 ' 309 622 63 ' The C. 8t. January full P. 1, & K. C. 5 per cent Sterling Priority 1900. Loan was paid There have been paid two semiannual interest payments of 2 per cent each on the 4 per cent Debenture Stock, amounting to Ihere have been paid two semi-annual dividends of 2*« per cent each on the 5 per cent Preferred Stook A, £190,625 $200,000 amounting to Total Liabilities on Loam. from Earnings.... $568,650 50 $1,281,054 10 $67,000 550,000 1,358,333 30 3,937 12114 347J874 33 62,355,786~14 R. C. In 568,620 00 143,783 60 Surplus £152,900 U. 8. Currency.. Loans at various dates.. Advances 375 398 57 $6,721,037 06 in 1904, Sterling 5% —_ all $6,721,037 06 1,124,242 42 Gold Notes, due 7,680 00 188.962 84 9,574 05 $6,721,037 06 * -£££"*»£ 6% Sterling Loan, due in 1902 5% Gold Notes, due in 1903, charges prior to 4 percent Debenture Stock 5,033 41 353,125 96 Oar Trust Liabili- 696 Sterling Minnesota Transfer Railway Co Interest on Loans for Capital Improvem'ts Internal Revenue War Taxes 70,578 75 70,000 00 grants, C. G. W. Ry. Co Total Paul Union Depot Co Interest on this Company's proportion as joint owner of the Bonds issued by the Surplus over 30, 1900. $192,072 97 12,581 58 ; & $1,468,293 90 Dividends payable July 15, 1900, on 4 per cent Debenture Stock $333,472 00 Dividend payable July 31, 1900, on 5 per cent Preferred Stock "A" 284,295 00 5,200,892 29 84,491 31 rants, C. St. P. no able in exohange for one First Mortgage Bona 111,753 63 All the Stock of City Terminal Ry. Co., Kansas City 4% Debenture Scrip fi^^i ftfift . Deposited in London to pay interest and dividends from Jan. 15. 18^3, to July 31, 1900, on 4 per cent Debenture Stock and 5 per cent Preferred Stock -A," yet issu- St. - 4% Debenture Stock ci 595 982 8R ' London and New York in 56,467,015 30 Our interest in Chic. Union Transfer Ry.. All lb* Stock of DeKalb & Great Western 12107184 708^636 94 19.550 00 347,874 38 Balance Income Account, June 30, 1900. Cost of road, Including Terminals to June 30, 1900 Our interest in Kansas City and $229,028 19 117,486 32 51,408 45 437 50 489 26 Bills receivable superior. The earnings during the fiscal year covered by this report have been limited by the motive power and cars which the Company possessed. The new fiscal year begins with increased motive power and cars in possession, and 16 additional locomotives and 800 freight cars under contract to be delivered during July and August". Some of the locomotives rvoL. lxxi. Wight, Auditor Capital Accounts. Surplus over Stock all charges prior to 4 per cent Debenture $1,281,054 10 $1,281,054 10 W. B. BEND, Auditor. 2 : September 1, THE CHRONICLE. 1900J 445 SOUTHERN RAILWAY COMPANY. ANNUAL REPORT— FOR THE SIXTH New To the Stockholders of the York, September 1, 1900. Southern Railway Company: The President and Board of Directors submit the follow- ing report of the operations of the ended June Company for the year 30, 1900: INCOME ACCOUNT. Inc. or Dec. 1899. 1900. Gross Earnings from $31,200,869 89 $25,353,686 07 /.$5,847,183 82 Operations..: Operating Expenses 21,831,446 86 17,356,355 37 1.4,475,091 49 and Taxes..... Net Income from Operations .... from Income $9,369,423 03 $7,997,330 70 J.$l, 372,092 33 Other 328,469 81 318,805 48 Souroes $9,688,228 51 „'.•«„ $8,325,800 51 J.$l,362,428 00 $6,207,252 80 J.$548,189 50 15,534 71 24,028 23 D.8.493 52 $6,770,977 01 $6,231.28103 J.$539,695 98 $2,917,251 50 $2,094,519 48 J.$822,732 02 Interest and Rentals... $6,755,442 30 Other Deductions from Inoome Balance _ D.9,664 33 Dlvid'ds on Pref. Stock: No. 5, 1>« per ot. paid inAprtl, 1900 900,000 00 $2,017,251 50 Reserved for Divid'd No. 6, 1*9 per oent, pay'leinOot.,1900 30, 1900. Increase In rental of the Mobile <fe Birmingham Railroad, paid for the entire year 1899 19C0, as against four $61,000 00 months of the previous year Increase In rental of the South Carolina & Georgia and railroads, paid for the entire Southern year Augusta 1899-19CO, as against two months of the previous year (including rental of Sumter & Wateree River RR.) 240,000 00 Increase in rental of RlobmoDd & Mecklenburg Railroad, paid for the entire year 1899-1900, as against eight 4,200 00 months of the previous year Rental of Atlantio & Danville Railway Company for ten 105,833 31 months— September 1 , 1899. to June 30, 1 900 Rental for trackage rights over Charleston & Western Carolina Railway and Charleston & Savannah Railway, between Allendale, S. C, and Savannah, Ga., six months 12,147 56 and twenty-one days 583 32 Sundry small increases Total in $588,052 83 creases Decrease In Interest on Southern Railway Company Certificates of Indebtedness issued In December. 1897, for aocount of purchase of Memphis Division, of which $200,000 out of ihe original [issue of $1,200,000 were outstanding June 30, 1900 $24,000 00 Decrease in interest on Atlanta & Charlotte Air Line Inoome Mortgage Six Per Cent Bonds, which matured April 1, 1900, the payment of the principal of said bonds having been extended to January 1, 1907, at 4 per cent per annum 3,750 00 Miscellaneous decreases, due to retirement of Richmond & Danville and Georgia Pacific 12,113 33 Equipment Sinking Fund Bonds 39,863 33 900,000 00 Bal. carried to credit of Profit and Loss.. $1,117,251 YEAR ENDING JUNE FISCAL 50 Netincrease $548,189 50 increase of in interest upon Southern Railway The $28,490 First Consolidated Bonds was due (a) To the faot that $1,000,000 of bonds which bore Interest for only six months of the fiscal year 1899 carried Interest for entire year 1900. involving an increase of $25,000 00 (6) To the sale during the year of $1,398,000 of bonds bearing interest from June 11, 1900 3,490 00 : For dividends for the year 1899, see Profit and Loss Account, Table 3, page 33 of Annual Report for 1899. For details of Income Account see Table 2, pages 451 and 452. This account for 1900 includes, for the entire year, the results of operation of the Mobile Birmingham Railroad, & South Carolina & Georgia and Augusta Southern Railroads, Carolina Midland Railway, Seivern & Knoxville Railroad and Atlantic & Yadkin Railway, whereas for 1899 it included the results of operations of these properties during only a part of the year, namely: Mobile & Birmingham RR., March 1 to June 30, 1899. South Carolina & Georgia and Augusta Southern Rail- May roads, 1 to June 30, 1899. Carolina Mid'and Railway and Seivern May June 30, 1899. Atlantic & Yadkin Railway, April & Knoxville RR., 21 to $28,450 00 First Consolidated Bonds reserved in the hands of the Trustee for future improvements amounted, at the close of the year, to $12,900,000, issuable only for expenditures for new and additional property under the limitations specified in the mortgage, and at a rate not exceeding $2,000,000 in any one calendar year. One million dollars have been withdrawn during the year 1900, as stated below. Memphis Division First Mortgage Bonds similarly reserved for improvements upon the Memphis Division amount to $1,417,000, to be iesued at a rate not exceeding $100,000 per annum and, in addition thereto, $1,500,000 of these bonds are reserved solely for the construction, if determined upon, of aline of railway between Stevenson and Chattanooga. None of the reserved bonds of this issue have as ; 1 to June 30, 1899. It also includes the results of operation of the several properties added to the system during the year 1900, as follows: Sumter Wateree River Railroad, August 7, 1899, to June 30,1900, Atlantic Danville Railway, September 1, 1899, to June & & 30, 1900. Northeastern RR. of Georgia, November 1, 1899, to June 30, 1900. Lockhart RR., May 28, 1900, to June 30, 1900. The Gross and Net Earnings shown above are the results of the operation of an average of 6,306-12 miles for the entire year in 1900 as compared with an average of 5,377-50 miles 6 yet been withdrawn from the Trustee, There are also reserved, in the hands of the Trustee, $1,000,000 of Memphis Division Second Mortgage Bonds, issuable for improvements on the Memphis Division, at a rate not exceeding $100,000 per annum. None of the reserved bonds of this issue have as yet been withdrawn from the Trustee. EARNINGS AND EXPENSES. The Earnings and Expenses in comparison with those of substantially the same properties in the previous year were as follows: in 1899. The mileage operated at the close of the year was 6,431-11 miles as against 5,958-68 at the close of the previous year, an increase of 472-43 miles, as follows: & Wateree River Railroad 1581 & Danville Railway 28242 ".. Northeastern RR. of Georgia .."....... 3893 Carolina Midland Railway— Extension Cayse" to "Perry. S. O ... 31-1 Trackage over Charleston & Western Carolina Railway -AllendaleJunction. S. C, to Yemassee, S. C 34-70 Trackage over Plant System- Yemassee, 8. C, to Savannah. Ga. 53 80 Lockhart RR.-Lockbart Jet., S. C, to Lookhart. 8. C 1381 Sundry Adjustments... 1-84 Sumter Atlantio 472-43 The net increase of $548,189 50 in "Interest and Rentals" consists of Increase in interest upon Southern Railway First Consolidated Bonds $28,490 00 Increase interest rpon $1,500,000 Atlantic & Yadkin Kailway Company First Mortgage Pour Per Cent Bonds, pam for the entire year 1899-1900 as against three monthB in the previous year 45,000 00 lnc rea8e ft Hoate8 in interest on Southern Railway Company ot Indebtedness issued and sold in May, Voof! J9 P ro vlde, In part, for the purchase of South Caron,, lina >i° & Georgia Railroad stock and Northern Alabama and stock and on Southern Railway Cornr^i 7 ?,y bond8 80 68 of Indebtedness issued and sold in er,?, Vc^ may, 1899, t> provide, in part, for the purchase of Donas and stock of the Carolina Midland Co. ana stock of the Seivern & Knoxville RR. Railway Co.. interest certificates having been paid for the entire year 1 bqq " * 19<J0 a8 against less than two months of the prei?J V 8 y ear -••• 89,13195 T, J°« . . 0m June 15 to 30 19 «0. on $1,000,000 Southa2£ d Kaln wa y Company Certificates of Indebtedness isard n d *° Provide for extensions of the Carolina MiHio MidlandTT?°i Railway 1,666 66 ... m . ^ 1 , > ' , 1900. 1899. Increase. (2» $ $ P.c. of IllC Gross Earnings 31,200,869 89 27,696,179,85 3,504,690 04 12-65 Operating Expenses. .20,783,656 00 18,179,432 77 2,604,223 23 14-32 Taxes 947,442 99 100,347 87 10-59 1,047,790 86 Operating Expenses and Taxes 21,831,446 86 19,126,875 76 2,704,571 10 1414 Net Earnings from Operation 9,369,423 03 8,569,304 09 800,118 94 934 Ratio of Expenses to 69-06 92 Earnings 69-98 As shown in DIVIDENDS. Income Account, dividends amounting to 3 per cent on the preferred stock, payable \}4. per cent in April, 1900, and \% per cent in October, 1900, have been charged against Income for the fiscal year ended June 30, 1900. Dividends in the previous year aggregated 2 per cent on the preferred stock, and were charged to Profit and Loss Account. PROFIT AND LOSS ACCOUNT. The balance standing at credit of Profit and Loss on June 30. 1899, was $2,366,563 88The balance standing at the credit of that aocount on 3,510,70186 Juno 30, 1900, was Table For details of Profit and Loss Account see 3, page 452.) FINANCIAL CONDITION. financial condition of the Company at the close of the year is shown in the comparative balance sheet ( Table- The 1, p. -A 450.) The Company has no floating debt, and has had none since its organization. The liabilities of every character of all subordinate companies operated as a part of the System, whether leased or : : : THE 0HRONWL& 44H [Vol. LX2I. owned, and affecting »he income of the Southern Railway and of the Seivern & Knoxvil'e Railr ad Company, and of Company, are shown in the balance sheet, and are treated as stock and bonds of the Northern Alabama Railway Company and of the Carolina Midland Railway Company, $633,liabilities of this Company. 333 33 were paid during the year, leaving outstanding at the Capital Stock. close of the year $1,716,666 67. the in year during the There have been no changes In order to provide for advances to the Carolina Midland amount of capital stock outstanding. Railway Company for the extension and com letion of its Funded Debt, Outstanding Securities of Leasehold Estates line from Columbia, S (X, to Hardeeville, S C, there were and Equipment Obligations. June 15, 1900, Southern Railway Company Four Per As stated in the last annual report, there were outstand- issued Tent Certificates of Indebtedness in the sum of $1,000,000, ing on June 30, 1899: payable in four equal semi-annual instalments, the first of which will be due July 1, 1901, and the last on January 1. Funded Debt (including $1,394,000 Southern Railway Consolidated Bond* rreein Treasury and $i, 500,000 Memphis Division Second Mortgage Bonds owned $103,932,300 00 by tne Company) 21,508,000 239,99 L Outstanding Securities of Leasehold Estates Equipment Notee of Old Companies or their Receivers. < 1 3 $12^80.991 63 Total On June 30, 1900, as shown by the balance sheet (Table 1) there were outstanding Funded Debt, Including $1 ,276,0 "0 Southern Railway First Co solidated Bonds free in Treasury aud $l,50(,0oo Memphis Division Second Mortgage Bonds owned bv the O mpany $104,970,200 00 25,9 2.<00 00 3 889 97 1,675,996 29 Outstanding Securities of Leasehold Estates Equipment Notes of old Companies or their Receivers. Equipment Obligations of Southern Railway Co 1 < $13i,?32.2<36 26 Total Net inorease during the year In these accounts — $7,05 1,9 rfi 63 This net increase of $7,051,994 63 represents V~ additions during tear: (a) New Bond Issues— Southern Rulway Co. First Consolidated Bonds... $1,278,000 00 Issued as follows: Upon retirement of an equal amount of Equipment Bonds, ana Equipment Trust Obligations of tie old Companies and of their Receivers $263,000 00 Upon retirement <>f an equal amount of Prior Lien Bonds redeemed, viz.: Charlottesville & Rapidan First Mortgage Bonds. 15,000 00 Issued during the year for account of the acquisition of new property 1,000,000 00 & Wateree River RR Co. Mortgage ^ Per Cent Bonds.. $100,000 00 Richmond & Mecklenburg RR o. Fikst Mortgage 4 Per Cent Bonds.. 7,000 00 seccritie8 of atlantic & danville Railway C mpany: Mortgage 6 Per Cent Bonds $1,238,000 00 3,099.^00 00 4,337.200 00 4,444,200 00 Obligations— Amount of Contracts for New Equipment Received During the Year, Payable in Monthly 00 14,3"8 8 3.W3' 80 1,500 48,50^ 79 3,000 oo 950 00 2,7^0 00 • Estate, Louisville. Ky Estate, Jefferson County, Ky Estate at Blaoksburg, 8. C Real Estate -Miscellaneous Rtght of v7»y between Asheville. N. C and Knoxville, Tenn., for impro Ing line Addition to General Offloe Building, Washington, D. C Rluemont Extension— Round Hill to Bluemontu Va . 401 miles New Station North Augusta, 8. C Terminal Improvements Pinner's Point, Va. Terminal Improvements Cha>leston, S. C , 17,6:5 79 130,616 94 21,768 3.380 5.0*0 35.8?4 11,685 47 00 »8 75 11 320,303 58 9,750 00 $620,726 79 Bal -nee Sheet, Tabl* l, "New and ment. Year 1899-1900") have been Representing the cost of 3 Combination Cars, 7 Passenger Cars, 2 Caf6 Cars, Additional Equip- 137,368 23 2 Dining Oars, 1 Snow Plow, 1 Steam Tug. Total charges to Capital Account during the year for $758,095 02 Constructnn, Real Estate and Equipment Instalments During the Ye\rs ls-00 to 190i. Inclusive, or Earlier at the Option of the Com2,141,815 00 Total A»ditions $7,864,015 00 reductions during year. Richmond & Danville Equipment Sinking Fuud 5 Per Cent Bonds, retired $105,000 00 Georgia Pacitio Equipment Sinking Fund 5 Per nent Bonds, retired 120,000 00 &, Kapidan First Mortgage 6 Fer Cent Bonds, retired. 15,100 00 Equipment Notes of old Companies or their Rec^veispaid 106,101 68 Equipment Obligations of Southern Railway Company paid 465,818 71 Charlottesville The capital expenditure of $130,616 94 on account of the addition to the Company's general office building, at Washington, D. C, represents only the cost of the new and additional structure. The cost of the necessary alterations in the original building will be charged to operating exp-nses. Equipment Trust and Equipment Sinking Fond Payments. Equipment Trust notes of the old Companies or their Receivers have been paid during the year as follows: $37.500 00 East Tenn. Va. & Ga. Car Trust Notes " " Mem obis & Charleston " 24,479 04 South C-.ro ina & Ga. Augusta Southern 812,020 37 Net inorease in those aocounts as above $fl.29l C Total for Construction and Real Estate First Total Reductions Va Estate at Washington, D. Estate at Aoheville, N. C Estate at Lynch's, Va (bj For New and Additional Equipment Expenditures for new and additional equipment, charged to capital acoount during the year (as shown by the < pany Real Real Real Real Real Real $630,476 79 First Equipment 1S99-1900"): Real Estate at Richmond, Less proceeds from sale of Real Estate at Columbia, S. C Sumter (o) — Balance representing cost of 446,180 feet of additional Track of Leasehold Estates— Pi ef erred Stock Charges to Capital Account. (a) For New Construction and Real Estate Expenditures for New Construction and Real Estate charged to capital account during the year have been (see Baance Sheet, Table 1, "Current New Construction, Year For Acc«uDt of Sundry Surveys Additional Passing Tracks and Tracks to Industrial Plants, 515.2 7 feet $400,137 90 Less amount charged to operating expenses, representing 19, 1 17 ft. of Track taken up. 79,834 32 $1,278,000 00 (b) Securities 1903. $7,051,091 63 The increase in securities and equipment obligations outstanding, as shown above, is fully represented either by the amount of prior li-n securities retired, or by the cost of new and additi nal property acquired, or by s curities upon newly-acquired properties outstanding at the time of their acquisition. Extension and Refunding of Matured Bonds. The Atlanta & Charlotte Air Line Railwav Company Six Per Cent Income Bonds, in amount $7 0,000, became due April 1, 1900, and were extended at 4 per cent until January " " " " " " 28 7,124 34 36, 9 $106,101 66 Total Sinking Fund payments during the year on account of Equipment Bonds have been: Richmond & Danville 5 Per Cent Equipment Sinking Fund $104,412 50 Georgia Paoitic 5 Per Cent Equipment Sinking Fund 105,620 00 210,032 50 Total Total payments during the year on acoount of old equipmenc obligations outstanding upon the several proper$316,134 16 ties at the time of their acquisition Payments for New Equipment: Payments for new equipment during the year have amounted to, $1,573,889 40 Of which there was charged to Capital Account, for " New and Additional Equipment," as specified above. 1 37,368 23 The East Tennessee Virginia & Georgia Railroad Company First Mortgage Seven Per Cent Bonds, in amount $3,The balanoe, viz $ ,436.521 17 123,000, matured on July 1, 1900, and provision was made for taking them up by the issue and sale as of tbat date of has been charged to Operating Expenses or to Reserve Acan equal amount, par value, of Southern Railway Company counts created through charges to Operating Expenses to First Consolidated Mortgage Bonds, pursuant to the require- provide for equipment renewals. The new equipment thus ments of the First Consolidated Mortgage Deed of Trust. paid for and so charged consisted of: The annual saving in interest charges to the ompany by 2i Locomotives, 1,627 Freight Cars. 24 Passenger Cars, reason of these two maturities will amount to $77,460. As against this, equipment was retired during the year as Certificates of Indebtedness. follows Of the $',200,000 Six Per Cent Certificates of Indebted1751 Freight and Roadway Cars. lw Locomotives. < ness issued in December, 1897, on account of the purchase of the Memphis Divi.-ion, $400,000 were paid during the year, leaving outstanding at ihe close of the year the sum of $200,000, payable in December, 1900. Of the $2,350,000 Five Per Cent Certificates of Indebtedness issued in May, 1899, to provide in part for the purchase of stock of the South Carolina & Georgia Railroad Company 1 9 Passenger Oars, for new equipment charged to Operating Expenses reflect the Compa y's policy of improving the condi ion of its rolling stock aud of increasing the average capacity of its freight cars and the average efficiency of its locomotives without increasing its capital The heavy expenditures account. — : September , THE CHRONICLE. 1, 1900.1 447 The average number of tons (all freight) per train as compared with the year previous increased 11*78 per cent as compared with 1896, 25*56 per cent. The average number of tons (all freight) in each loaded car as compared with the year previous increased 5 7 per cent as compared with 1896, 13 per cent. Sj The average earnings per freight train mile as compared with the year previous increased 10*44 per cent as compared with 1895, 12 per cent. & These average results do not indicate fully the improvements which. have been accomplished on the linesof densest ville. traffic, on account of the large number of branch lines in The replacement of all equipment retired since the Com- the system upon which full train loads of freight are never pany commenced operations in 1891 has been fully provided secured, and of the number of new lines in poor condition and for by proper charges to Operating Expenses. with thin traffic and light-capacity equipment which have been added to the system during the years named, which Equipment Obligations Outstanding at Close of the Year. have tended constantly to keep down the average efficiency. Equipment Obligations, as above stated, were outstandThe improvements have been most marked in the last ing at the close of the jear in the amount of $1,809,886 26, year because of the increased volume of traffic, and of the consisting of: accumulated effect of the expenditures made in previous Equipment Trust Notes of the old Companies or of their years to improve the property and thus secure more adThe average capacity of the freight-car equipment of the system, which in l>*95 was 47,190 pounds per car, in 1900 is 51,619 pounds per car, an improvement of it*38 per cent. The average tractive power of the locomotives, which in 1895 was 2,819 tons per engine, in 1900 was 3,072 tons per engine, an improvement of 8*98 per cent. These average results have been obtained notwithstanding the fact that during the five years relatively large proportions of light-capacity equipment have been received Charleston, South Carowith such lines as the Memphis lina & Georgia, Mobile & Birmingham and Atlantic & Dan- Receivers, viz.: East Tenn. Va. & Ga. Oar Trust Notes Memphis & Charleston South Carolina &Ga. " " " ; ; ; vanced methods of operation. Contracts were let last spring for the work of reducing grades and improving the alignment of the road between $133,889 97 Asheville, N. C., and Knoxville, Tenn., which, when comunder pleted, will result in considerable economies in handling the 1,675,996 29 heavy traffic over that line. $1,809,886 26 ADDITIONAL PROPERTIES. $62 500 00 8,159 68 63,230 29 Equipment obligations of Southern Railway Co. equipment oontraots Total Atlantic & Danville Railway. The equipment obligations of the Southern Railway Co., The property of the Atlantic & Danville Railway Comamounting to $1,675,996 29, consist of the unmatured bal was leased on August 31, 1899, to the Southern Railpany ances on contracts for 3,200 freight cars purchased and reway Company for a period of fifty years from July 1, 1899, ceived during this fiscal year as follows: 2,0©0 Br x Cars, f>00 Coal Cars, 200 Coke Cars, 1 00 Stock Cars, 100 Flat Cars. I 300 Gondola Cars, The total contract price of the above equipment was $2,141,815, of which $465,818 71 was paid during the year ended June 30, 1900. The balance is payable in monthly instalments during the next three years or earlier, at the option of the Company. New Equipment Contbacts: In addition to the purchase of equipment made during the year, as shown above, a contract has been made for the purchase of new equipment as follows: 18 Pass' neer Locomotive?, 65 Freight Locomotives, and 3,450 Freu nt Oars, viz 1,9.* Double Hopper-Bottom Coal Cars, | : fcOO Ventilated Box Cars, 500 Flat Cars, 200 Coke Cars. A small number of these cars had be?n delivered in advance prior to June 30th, and are included in the inventory of equipment on hand on that date. This equipment will be paid for twenty per cent in cash, and the remainder under equipment trust obligations bearing four per cent (4%) interest and maturing in fourteen (14) 1900. semi-annual instalments dating 6 from November 1, at a fixed rental of $1 27,000 per annum 157,000 per annum 188,000 per annum 218,000 per annum until July 1, 1901 from Juiy from July l, 1, 1901, to July 1904, to July 1, 1, 1901, 1909, and thereafter. & Danville Railway consists of a main line of standard-gauge railroad from West Norfolk, Va., to Danville, Va., a distance of 205*1 miles; a narrow-gau^e branch, 50*49 miles in length, from James River Junction, Va. (near Emporia, Va.), to Claremont, on the James River, and several small spurs and branches aggregating 26*83 miles, in all 282*43 miles of road. Northeastern Railroad of Georgia. On October 31, 1899, the Southern Railway Company purchased from the State of Georgia the Northeastern Rai road of Georgia, a lire extending from Lula, Ga., where it connects with the Atlanta & Charlotte Air Line Railway, to Athens, Ga., a distance of 38*93 miles, tin property having been offered for sale by the State to tbe highest bidder, pursuant to public advertisement. The purchase price was $307,000, of which $100,000 was paid at tbe time of purchase, $100,000 will be due November 1, 1900, and the remainder, $107,000, on November 1, 1914, such deferred payment-* bearing intere-t from November 1, 1899. at Z% per cent per annum, payable semi-annually. The Southern Railway Comp ny has the right, however, to anticipate tht* payment of either or both of the deferred insta'ments on the due date The Atlantic This equipment, while available on delivery as additional of any semi-annual interest payment. for the growing traffic of the Company, is purSumter & Water ee River Railroad. chased in anticipation of future renewals, and the cost will The construction of the Sum'er & Wateree River Railroad, be charged entirely to renewal accounts. extending from a point on the Camden branch of the South Further contracts have been made for the purchase of Carolina & Georgia Railroad, near Kingville, S. C, to Sumnew passenger-car equipment as follows ter, S. C, about 16 miles, was completed on August 8, 1899, 22 Passenger Coaohes, 6 Combination Passenger and and the road has been operated since October 2, 1899, under 22 Baggage and Express Cars. Baggage Cars. the terms of an op- rating agreement between the Sumter & This should provide for the present necessities of the Wateree River Railroad Company and the South Carolina & service and for the replacement of such passenger equipment Georgia Railroad Company, whereby the last-named Comas may be retired during the coming year. pany operates the property for account of its owners. The South Carolina & Georgia owns substantially all of Inventory of Equipment. As shown in Table 21 of pamphlet, the equipment on hand tbe stock, and has guaranteed payment of toe principal and of all lines on June 30, 1900, as compared with June 30. interest of $100,000 First Mortgage Five Per Cent Bonds of the Sumter & Wateree River Railroad Company, this being 1899. consisted of: _ June 30, 1900. June 30, 1899. Increase. an obi gation incurred before the Southern Ry. Co. obtained Locomotives 33 its controlling interest in the South Carolina & Georgia. 797 764 Passenger Service Care 32 714 «82 Savannah Extension. Freight Cars 27,368 3,456 23.912 Road Servioe Equipment 130 In pursuance of the plan inaugurated in the last fiscal 576 446 This includes for 1900 equipment received during the year, by the purchase of the Carolina Midland Railway, the year :— last-named Company, during the summer and fall of 1899, With the Atlantic & Danville Railway, viz.: constructed a cut-off between Cayce (near Columbia), S. C, and Perry, S. C, 31*12 miles in length, thus giving this 26 Locomotives, 811 Freight Cars. 23 Passenger Service Cars, Company the control of a direct line of road from Columbia 14 Road Service Cars. to Allendale, S. C, connecting there with the Charleston & "With the Northeastern Railroad of Georgia, viz.: Western Carolina Railway. Trackage agreements were 2 Locomotives. 1 R 0a d Service Car. 3 Passenger Servioe Cars, made with the Charleston & Western Carolina Railway and Aside from equipment received, as above, with lines ac- th* Plant System for thf> operation of Southern Railway quired, there was a net increase in available equipment trains from Allendale to Yemassee, S. C, and from Yemasduring tbe year of see,S. C.,into Savannah, Ga., including the use of the Plant System terminals at Savannah. This Company was thus 5 Looon otives, 2,645 Freight Cars, 6 Passenger Service Cars, enabled to run its own trains into Savannah from th a be115 Road Service Cars. Floating equipment at the close of the year crnsisted of ginning of last winter's Flori ia passenger traffic, and the at 3 Steam Tugs. 2 Towboats, 10 Barges. 121 Coal Florida service has been since successfully operated over xj » ??f' Uoats, the new route in connection with the Plant System south 1 Pump Boat and 1 Pile Driver. this includes 1 Steamer, 1 Tug, 4 Barges and 1 Pile Driver, of Savannah. received with the Atlantic & Danville Railway. Under the trackage contracts above referred to, provision was made for the future shortening of the line, if deOperating Efficiency. sired, and the modification of the trackage agre-ments Attention is invited to tables 9 and 10, in pamphlet, accordingly. It has now been decided to do this by the snowing the improvements made during the year in operconstruction, by the Carolina Midland Railway t ompany, ating efficiency as compared with the several years previous. of a line about 53 miles in length, from Allendale, S. C, to equipment | 1 | 1 : THE CHRONICLE. 448 Hardeeville, S. C, on the Plant System, and it is expected that the new line will be completed in time for next winter s Florida traffic. To provide funds without creating floating debt, and pending the permanent funding of the cost of these properties and extensions, certificates of indebtedness, bearing four last as (4) per cent interest, were issued and sold in June stated above. Arrangements have been substantially concluded for the construction of a new Union Passenger Station at Savan nah, Georgia, and terminal tracks connecting it with the several roads entering Savannah. The Southern Eailway Company will own a one-third interest in the property and will enjoy equal rights with other owners in its use and operation. Ensley Southern Railway. For the purpose of reaching and insuring the development of important coal properties near Birmingham, a line of railroad has been projected between Ensley, Alabama, on the Southern Railway Company's Woodlawn -Bessemer Branch, and Parrish, Alabama, the junction of the Northern Alabama Railway with the Southern Railway Company's line, a distance of about thirty-five miles. For this purpose the Ensley Southern Railway Company (substantially all of whose stock is owned by this Company) has been organized under the laws of Alabama, and is now constructing those portions of the line, about 25 miles, which are immediately needed in order to reach the more important of the coal beds referred to. In order to avoid parallel construction by the Louisville Nashville Railroad Company, an agreement bas been made by which that company will be granted trackage rights over about 18 miles of the Ensley Southern line. Lockhart Railroad. In order to provide railroad facilities for the Lockhart (S. C.) Mills, a cotton manufactory of impoitance situated on the Broad River, the Lockhart Railroad Company was organized by the owners of said mills, and has constructed Spartana railroad therefrom to a point on the Asheville burg Railroad, near Orr's Crossing, S. C, a distance of 13 81 & & - miles. The Southern Railway Company has assisted in such construction and the road has been leased to the Southern Railway Company for a term of years, and has been operated under such lease since May 28, 1900. [Vol. LX2I, The total issue of First Consolidated Mortgage Four Per Cent Bonds of the new company will be limited to $2,500,000, of which $1,000,000, as above stated, will be issued for the purchase of the property, $1,000,000 will be reserved to pay off the $1,000,000 of outstanding first mortgage five per cent bonds of the old company, due March 11, 191 1, and the remaining $500,000 will be reserved to be issued only for future improvements and betterments to the property. The Southern Railway Company, the Biltimore & Ohio Southwestern Railroad Company and the Chicago Indianapolis & Louisville Railroad Company jointly control the new company, each having subscribed for a one-third interest in the new securities issued or to be issued for the purchase of the property. The property of the Kentucky & Indiana Bridge Company consists of a railroad about five miles in length, including a bridge across the Ohio River, between New Albany, Ind., and Louisville, Ky., and of important switching facilities, including five miles of terminal lines in Louisville. The new company is operated as a separate organization, but the three companies above named will have the use of the bridge and terminals, paying as rental an aggregate amount sufficient to cover any deficiency of earnings of the new company to meet its operating expenses, maintenance, taxes and fixed charges, the portion of such rental payable by each of the three companies named to be determined in proportion to their respective use of the facilities. Columbia Union Station. A company has been organized for the purpose of constructing a Union Station at Columbia, S. C, and the work is now under way The Atlantic Coast Line and the Southern Railway Company have each subscribed for a one-half interest in the securities of the new company, and will use . the station jointly. NEW The development of INDUSTRIES. manufacturing industries in the South has continued during the past year in a marked degree. Upon the lines of this Company, or tributary thereto, 514 manufacturing industries and plants were completed and began operations during the year, including: Textile Industries. 27 new cotton mills began operations, equipped with 4,498 looms and 220.158 spindles, and having a combined author- Ore Belt Railroad. ized capital of $3,440,000. For the purpose of reaching the iron-ore beds of the The equipment of old cotton mills w;is increased by the Georgia & Alabama Mining Company near Cave Spring, addition of 9,449 looms and 287,021 spindles, the improveGa., on the Company's line between Rome, Ga., and Annis- ments having an estimated value of $9,065,3i8. ton, Ala., a branch line about six and one-half miles in The total increase during the year in the capacity of actlength was under construction at the close of the year, and ive cotton mills tributary to this Company's lines was, has since been completed. This branch was built under the therefore, 13,947 looms and 507,179 spindles, the additional charter of the Ore Belt Railroad Company, substantially all capital invested being about $12,500,000. of whose capital stock is owned by this company. 2l knitting mills began operations withestimited capital of $594,000. Extension of the Round Hill (Va.) Branch. Iron and Steel Industbxes. With a view of further developing the summer resort and in operation during the year were put There other traffic of the Washington-Round Hill (Va.) branch, A new steel mill at Ensley, Ala., capital $1,000,000. that line has been extended a distance of about four miles A new wire and rod mill at Ensley, Ala., capital $2,000,000. to Bluemont, Va., a point in the Blue Ridge Mountains, and An iron-pipe plant, North Birmingham, Ala., capital $175,the extension was opened for traffic on July 1, 1900. 000. Consolidation of Baltimore Chesapeake & Richmond Steam14 pig-iron furnaces went into blast. boat Company with Chesapeake Steamship Company. Miscellaneous. The Chesapeake Steamship Company, a corporation organized in January, 1900, under the laws of Maryland, has 449 miscellaneous industries were established and put in purchased the property and franchises of the Baltimore operation during the year, among which may be mentioned Chesapeake & Richmond Steamboat Company, all of whose 39 furniture factories, 3 J wood- working plants, 66 lumber capital stock was owned by the Southern Railway Company. mills, 2i) cottonseed oil mills, 29 flour mills and 7 cannerie s Pursuant to this consolidation the Southern Railway ComGENERAL REMARKS. pany has received, and pledged under its First Consolidated Mortgage, securities of the Chesapeake Steamship Company been one of unusual business activity and has year The in lieu of, and equal in amount to, those of the Baltimore growth in the territory reached by your Company's lines. Chesapeake & Richmond Steamboat Company formerly The iron and coal industries of the Southern States have owned and so pledged, viz.: been still further developed, and the large and modern steel $250,000 of Capital Stock of Chesapeake Steamship Com- plant referred to in the last report has been completed and pany. put in successful operation at Ensley, Ala. It has now been $250,000 of Certificates of Indebtedness of Chesapeake determined by the owners to add to this plant a mill for the Steamship Company. rolling of steel rails, an industry much needed for the full In addition to the purchase of the Baltimore Chesapeake utilization of the products of Southern furnaces, and, if & Richmond Steamboat Company's property, the Chesa- successfully maintained, of much possible benefit to the peake Steamship Company has acquired two new steamers, railways of the Southern States. the "Atlanta" and "Augusta," at a cost of about $555,000, The improved price of cotton during the year as compared to provide for which it has issued, and sold at par addi- with that of recent years has greatly benefited the entire : tional stock to the amount of $350,000 and Certificates of Indebtedness to the amount of $204,800. Of the additional stock thus issued the Southern Railway Company purchased $150,000, par value, and of the certificates of indebtedness, $53,200, par value, and has pledged the $150,000 of capital stock as further security under the Company's First Consolidated Mortgage. cotton-producing section, the surplus stock of previous years having been consumed and the farmers fortunately having received a full share of the advance. As pointed out elsewhere, the development of cotton manufactures in the South continues upon a steady and substantial basis, and is contributing largely to the prosperity of that section of the country. The increased business activity throughout the country Reorganization and Operation of Kentucky & Indiana Bridge Co. during the y<?ar has resulted, however, iu a large increase in The property and franchises of the Kentucky & Indiana the cost of the operations of the railways, both in labor and Bridge Company, in which the Southern Railway Company in materials used, and unfortunately the railways were unhas, for some time past, been interested as a bondholder, able, like other consumers, to increase the average price of were sold under foreclosure on January 18, 1900. A new the sole article which they have for sale— namely, transporcorporation has been formed by the purchasers, under the tation. Other branches of business and industry can, when the title of Kentucky & Indiana Bridge & Radroad Company, which, pursuant to the plan of reorganization, will cost of production increases, increase their prices to measurably correspond, but the average rates received by railissue its securities as follows in payment for the property: make no advance, and as a rule Capital Stock $75,000 way companies practically in times of increased cost of even diminish, .First Consolidated Mortgage Four Per Cent Bonds continue to 1,000,000 . 2 : September . THE CHRONICLE. 1, 1900. J 449 The average earnings of freight trains per mile run were operation. The railways, therefore, in time of prosperity must secure improved results, if at all, solely by the more $1*617 in 1900, compared with $1*464 in 1899. Increase 10*44 per cent. economical handling of a greater volume of traffic. Passenger Traffic. the death of their lamented colleague, Mr. Charles H. Coster, your directors have been deprived of a friend and associate whose rare ability, sound judgment and wise counsels have been of inestimable value to the Company. Their deep regret at his loss and their appreciation of his worth have been expressed in a minute upon the record of the Board and a copy has been sent to Mr. Coster's family. By The accounts of the Company have been examined by certified public accountants, Messrs. Patterson, Teele nis, and their certificate is attached to this report. & Den- Especial attention is directed to the General Manager's and to the annexed tables, for statistics, details of earnings and expenses, materials used, betterments made and economies accomplished in the operation of the property. The acknowledgments of the Board are due to all officers and employes for the faithful discharge of their duties during the year. Respectfully submitted, by order of the Board, SPENCER, President. report, SAMUEL The passenger earnings increased $172,738 39, or 2*28 per cent. The number of passengers carried increased 702,496, or 11-73 per cent. The number of passengers carried one mile decreased 10,- 446,105, or 3-07 per cent. The average rate per passenger per mile was 2-349 cents, as compared with 2226 cents in the previous year, an increase of 5*53 per cent. The average distance traveled by passengers was 49*22 miles, as compared with 56*74 miles in the previous year, a decrease of 13-25 per cent. The average earnings of passenger trains per mile run were $1*008 in 1900, compared with $1*033 in 1899, a decrease of 2*44 per cent. The decrease in the number of passengers carried one mile (as against an increase of 11-73 per cent in the number of passengers carried), and the increase in the average rate per passenger per mile, are due to the long-distance movements of a large number of United States Government troops in 1899 at reduced rates. Conducting Transportation. EXTRACTS FROM THE REPORT OF THE GENERAL MANAGER. MILES OF ROAD OPERATED. The number of miles The number of miles of of road operated on June 30, 1899, was.. 5,958*68 road operated on June 30, 1900, was.. 6,431 -11 An increase of A 472-43 = statement of the roads operated on June 30, 1900, is given in Table No. 19 in pamphlet report. The details of the increase in miles operated are as follows expenses for "Conducting Transportation increased The total The total tonnage moved (including Company's freight) in 1900 was The total tonnage moved (including Company's freight) in 1899 was & Danville Railway--Danville to Ga 38-93 West Norfolk, The number of miles trains in 1900 was The number of miles trains in 1899 was 964*36 1,3441 An increase 13531 1,028-38 The number 1900 was The number 1899 was Georgia 1,02106 Total 6,43111 Alabama 996 65 The average number of miles of road operated by the Company in the year 1899-1900, including acquired roads shown in foregoing table, was 6,30612, as compared with 5,377*50 miles in the previous year. For purposes of proper comparison, however, the statistics relating to Earnings and Expenses as given below for the year ended June 30, 1899, cover an average mileage of 6,221*81 miles, or substantially the lines operated during the fiscal year just ended. EARNING3 AND EXPENSES. 1900. Burnings— "eight $ $ of Inc. $ 21.006.730 33 17,791.180 29 3,215,550 04 1807 7,7^7,454 11 7.564,715 72 172,738 39 2*28 1,327.80712 1,328,144 22 D. 337 10 D. 03 638,513 97 532,930 03 105,583 94 19*81 490,364 36 11,154 77 2*33 479,209 59 Passenger Mail Express... Miscellaneous tation 10,475,930 11 9,216,437 11 1,259,493 00 13*67 4,665,23120 3,947,943 58 4,635,35123 4,052,97130 1,007,143 46 962,0r0 78 1,047,790 86 947,442 99 717,287 62 18*17 582,379 93 14*37 45,062 68 4-6*? 100,347 87 10 59 Total Exp.<fc Taxes.. 21,831,446 86 19,126,87576 2/704,571 10 1414 Net Earnings from era i n 9,369,423 03 8,569,30409 800,118 94 934 v?*? Ratio ofJ 2 Expenses to Earnings 69*98 6906 '92 COMPARISON OF STATISTICS. Fbeight Traffic The freight earnings increased $3,215,550*04, or 18-07 per cent. The number of tons of freight carried increased 1,888,524 tons, or 16-14 per cent. nu,n ^ er °f t° ns °f freight carried one mile increased o-v?'^f 3,1, .39.238 tons, or 19-34 per cent. The average length of haul of freight per ton was 168*82 miles in 1900 and 164*29 miles in 1899, an increase of 2*76 per eent. 523,979or 5*66% 12,150,757 839,239 or 6*91% run by all trains in of miles run by all 23,692,715 trains in 22,038,740 An increase 1,603,975 or of 26,912,843 3,187,634 or 11*84% of An increase of The average cost 7*26% 30,100,477 Ihe average number of tons carried per train in 1900 was The average number of tons carried per train in 1899 was 203*33 18190 21-43 or 11*78% of conducting trans- portation per train mile in 1 900 was. . The average cost of conducting transportation per train mile in 1899 was... An increase of 44-22 cts. 41*72 " 2*50 " or 5*99% In the above computations mileage of mixed trains is considered as one fourth passenger service and three-fourths freight. To summarize: The expense for conducting transportation increased 13-67 per cent. of tons carried (including Company's maper cent. The number of tons carried one mile (including Company's material) increased 19*50 per cent. The number of passengers carried increased 11*73 per cent. The number of miles run by all trains increased 7*26 per cent. The gross earnings increased 12-65 per cent. The average cost of conducting transportation per train mile increased 5-99 per cant. The average number of tons carried per train increased 11-78 per cent. The gross earnings per train mile increased 5*91 per cent. The number terial) increased 17*33 MAINTENANCE OF PROPERTY. ' ieaverage rate Perton er mile was 916 of a cent in ioni iwo, as compared with *925 Pof a cent in the previous year, a decrease of about one per cent. 12,989,996 of The number of miles run by locomotives in 1900 was The number of miles run by locomotives in 1899 was Total Earnings.... 31,200,869 89 27,696,179 85 3,504,690 04 12*65 Expenses— Conducting TransporMaintenance of Way apd Structures Maintenance of Equip. general Expenses Taxes 9.263,164 of miles An increase Increase. Percent 11899. 9,787,143 run by passenger The number of miles run by freight trains in 1900 was The number of miles run by freight trains in 1899 was Miles 291*77 647-19 Tennessee Kentucky run by passenger Anincreaseof lines of road are located as follows Mississippi 430.970,177 or 19*50% An increase of 472-43 2-27 1733% 2,641,271,338 1900 was The total number of tons carried one mile (including Company's freight) in 2,210,301,161 1899 was 15-81 ter, S. C Carolina Midi and Rail way— Extension Cayce to Perry ,S.C. 31*12 Trackage Rights, Plant System—Yemassee, S, C, to Savannah, Ga 53-80 Trackage Rights, Charleston & Western Carolina Ry.— Allendale Junotion to Yemassee, S C 34*70 Trackage Rights, Louisville & Nashville RR.—Extension beyond depot at Middlesboro, Ky '56 Trackage Rights. Atlantio Coast Line -Entrance to *35 depot. Sumter, S. C Net additions by reason of corrections in measurements. *93 Dtisrlctof Columbia Virginia North Carolina Sjuth Carolina 2.238,483 or total number of tons carried one mile (including Company's freight) in Va., and Branches 282-42 Lookhart Railroad— Lookhart Junction to Lockhart, S. C. 13*81 Sumter & Wateree River RR.- -Sumter Junction to Sum- The 13,203,541 The . \[ iles Atlantlo 15,492,024 An increase of detailed Northeastern RR. of Georgla--Lula to Athens, $1,259,493 or 13*67% (a) * In made Way and Structures. respects considerable improvement has been the physical condition of the property. The road- many in Maintenance of : . THE OHKONTCLE. 4^0 way and structures bave been maintained at every point. The total increase in the expense was $717,287 62, or 18-17 per cent, principally on account of renewals of and extraordinary repairs to buildings, bridges, tresties and culverts, increased renewals of cross-ties and new ballasting. Steel Rails.— 32-13 tons of new 75-pound, and 27.485*52 tons of new 80-pound, a total of 27,517-65 tons, of steel rails, were laid during the year. Side-tracks. 97-59 miles of new side-tracks have been constructed during the year (51-23 miles for industrial plants), and 57*34 mi es of side-tracks have been acquired with new lines, while 13 -09 miles of side-tracks have been taken up, making net increase in length of side-tracks 141-84 miles. The total mileage of side-tracks at the end of this fiscal year is 1,247-37, as compared with 1,105-53 previous year. ANDREW S. PATTERSON, C. P. ARTHUR W. TEELE, C P. A. Cents. Locomotives per mile.4-19 " 0-47 Freight Care " " 083 Pasnenger Cars Cents. Cents. Cents. Cents. Cents. 4-12 0-48 4-S9 0-47 094 085 5-58 0-53 1-07 5-66 0-77 1-16 5-60 0-73 1*35 TABLE June A. RODNEY Broad 30 New York, August 18. 1900. To the Bondholders and Stockholders of the Southern Raihoay Company We have made an examination of the books and accounts Railway Company for the fiscal year ending June 30, 1900, and hereby certifv that the Balance Sheet, Income and Profit and Loss Accounts published herewith are in accordance with the books, and in our opinion truthfully set forth the result of the year's operations and the of the Southern financial condition as at Jane 30, 1900. In the course of our examination the records of the departments of revenue and expenses have been traced to original and authorized sources. All charges to plant, construction or equipment accounts have been especially considered and found to be correct. The cash balances were verified either by actual count or by certificates obtained from depositories or other custodians. The securities of the Company have been verified, either by actual count or by certificates of custodians. Patterson, Teele : 30, 1900, Total to June ?0, 1899 ! Northeastern RR. of Georgia OurreDt New Construction, Year 1899-1900 Sundry Adjustments & DnoriB, Certified Public Accountants. AND JUNE 30, 1899. June COST OF ROAD. Southern Railway Pboperties Viz C P. A. Street. ASSETS. $252,877,040 02 DENNIS, Certified Public Accountants, I.-COMPARATIVE BALANCE SHEET JUNE 30, 1899. 8. JOHN WHITMORB, FbanciS K. Roberts. C p. a. PATTERSON, TEELE & DENNIS, Stuart H. Pattekson. — (b) Maintenance of Equipment: The increase of $582,379 93, or 14-37 per cent, in expenses for Maintenance of Equipment has further improved the general average condition of the rolling stock. The average expanse for repairs and renewals of eaoh class of equipment per engine per mile, and per car per mile. during the six years of the Company's operation, has been as follows: 1894-5. 1895-6. 1896-7. 1897-8. 1898-9. 1899-00 [Vol. LXil. 30, 1900. $253,832,997 02 $252,877,040 02 29t<,097 51 620,7$ 6 79 39,132 70 $253,832,997 02 Leasehold Estates. 20,473,934 38 (Per Contra "Outstanding Securities.") 24,507,409 69 Total Cost of Road $273,350,974 40 $278,340,406 71 COST OF EQUIPMENT. Equipment Owned $10,881,556 95 $11,028,985 18 June 30, 1899 Received with N. E. RR. of Viz.: Total to New $10,881,556 95 Ga 10,320 00 and Additional Equipment, Year lb99-1900. 137, 68 23i $11,029,245 18 Less Sundry Adjustments. 260 <0 $11,028,985 18 Trust Equipment Received with Purchased Properties Southern Railway Trust Equipment. (Per contra) Equipment Leasehold Estates. (Per contra "Outstanding Securities.") Viz North Carolina RR. $105.000 00 1,625,751 00 1,086,179 86 Atlanta & Charlotte Air Line Ry Georgia Midland Ry South Carolina & Georgia RR Augusta Southern RR Mobile & Birmingham RR Richmond Atlantic & & Equipment Other Lines. 3,640 CO 194.005 00 76.1.10 00; 475,682 68; 37,145 03 191,240 00 2,837 00 341,584 50 1 Mecklenburg RR... Danville \ 1,625,751 00 1,675,996 29 1,423,644 21 Ry $1,423,644 21 (Per contra.) 3,640 00 Total Cost of Equipment 13,597,127 81 15,758,016 68 Total Cost of Road and Equipment $286,948,102 21 $294,098,423 39 COST OF SECURITIES PLEDGED OR HELD FOR CONTROL $13,433,214 70<\000 6,224.5"4 182.750 Pledged under First Consolidated Mortgage (See Table 6) Pledged under Memphis Division Firot Mortgage. Pledged to secure Southern Ry. Certificates of Indebtedness Bonds deposited under North Carolina RR. Lease Securities in Treasury unpledged, held for control or as muniments of 06 OO 32 00 955.808 34 title, etc. $13,544,927 40 70'»,f00 00 6,522,904 82 182,750 00 970,789 76 21,496,276 72 $408,444,378 93 $1,185,687 03 8,185 70; 21,921,37148 Total Cost of Road, Equipment and Securities Held for Control.. Material and Supplies on Hand (See Table 8 in pamphlet) " " " Leased Rail $316,019,794 77 $2,091,511 72 110.709 34 2,202,221 06 1,193,872 73 $309,638,251 6f TOTAL CAPITAL ASSETS. $318,222,015 93 1,394,000 00 Southern Ry. Co. Consolidated Mortgage Bonds in Treasury. 1,647,962 4 2 Miscellaneous Securities Owned, in Treasury unpledged 15,000 00 SECURiTits Owned, deposited under oontraots 179.190 79 Bills Receivable— deferred but secured 3,515 f 6' Insurance Paid, Not Accrued 130,514 8i'sinking Funds— Uninvested Balances in hands of Trustees 1.276,0f0 2.169,305 12,000 1S6.235 8,609 109,'06 160.185 108,688 Insurance Fund, in hands of Trustees Sundry Accounts T 00 35 00 35 06 63 13 85 CURRENT ASSETS. Cash in hands of Treasurer and in hands of Financial Agents. Cash in transit from agencies Due from Agents and Conductors Due from United 8tates Post Offloe Department Due from Connecting Lines Due from Individuals and Companies.!" Bills Receivable— current $2,982,352 26 406,373 40 50', 56 79 332,94 8 02 556,017 S2 1,013.508 90 66,530 14 5,895,136 13 $318,903,571 67 TOTAL CURRENT ASSETS. $3,507,430 470,961 555.107 340.618 582.501 58 12 23 03 33 1,035,' 0« 87 55,845 95 6.548.074 11 $328.750.8C0 41 September TABLE June THE CHKONICLE. 1, 1900.] I.— COMPARATIVE BALANCE SHEET JUNE AND JUNE 30, 1899-(Conoluded). June LIABILITIES. 30, 1899. CAPITAL STOCK. Common f 120,000.000 00 Total $180,000,000 00 103,932,300 00 $180,000,000 00 FUNDED DEBT (see OUTSTANDING Table 104,970,200 00 4). LEASEHOLD OF SECURITIES ESTATES (see Table 5). AtlaDta & Charlotte Air Line Ry North Carolina KR Georgia Midland By South Carolina & Georgia RR Austusta Southern RR Mobile & Birmingham RR Richmond & Mecklenburg RR... Atlantio & Danville Ry Sumter & Wateree River RR $7,200,000 00 00 0' 1,650.0 5.250,000 00 40o,000 id 2,700,000 00 308,000 00 30, 1900. $120,000,000 00 60,000,000 00 Preferred 60,000,000 Ob 4,0l>0.000 30, 1900, 451 $7,200,000 00 4,( 00,000 00 1,6' 000 00 5,250/ 00 00 400.000 00 2,700 00 31.* ,000 00 200 00 4,337 100,000 00 25,952,200 00 Total 21,508,000 00 EQUIPMENT NOTES OF OLD COMPANIES OR THEIR RECEIVER8. $100.000 32.638 100,228 7,1.4 East Tennessee Virginia & Georgia Ry. Equipment Notes •« " Memphis & Charleston RR. " " South Carolina & Georgia RR. '• '• Augusta Southern RR. 00 72 57 31 $62,500 00 8,159 68 63,23o 29 133,889 97 239,991 63 EQUIPMENT OBLIGATIONS OF SOUTHERN RAILWAY Equipment obligations unmatured CO. 1,675,996 29 (per contra) CERTIFICATES OF INDEBTEDNESS. Account purchase, Memphis Division " " South Carolina & Georgia RR. Stock and Northern Alabama Ry. Bonds and Stock " " Carolina Midland Ry. Bunds and Stock and Seivern & Knoxville RR. Stock " Extensions Carolina Midland Ry $600,000 00 2.000,000 00 350,000 00 $200,000 00 1,600,000 00 116,666 67 1,000,000 00 2,916,666 67 Total 2,950,000 00 UNPAID BALANCE OF PURCHASE PRICE OF NORTHEASTERN OF GEORGIA RR, 207,000 00 MORTGAGES ON REAL ESTATE. $50,000 00 Va Norfolk. Washington, D. C 8,o0u 00 Total 58,000 00 EQUIPMENT OTHER Roswell RR $3,640 00 $3,640 00 3,640 00 Total 3,640 00 $308,691,931 63 LINES. TOTAL CAPITAL, FUNDED AND LIEN LIABILITIES. $315,859,592 93 Reserves— For Maintenance of Way For Maintenance of Equipment $301,336 7» 646,4 1* 69 683,083 95 $323,619 68 290,31136 747,645 33 Miscellaneous 1,530,872 42 Total 22,208 69 Sundry Accounts 597,465 36 Interest and Rentals Accrued, 1,361,576 37 52.590 66 Not Due 58^,460 25 350,085 26 287,82167 Taxes Accrued, Not Due. Reserve for Dividend No. 4, I per cent on Preferred Stock, payable in ootober, 1899, and for Dividend No. 6, l 1^ per cent, on Preferred Stock 600,000 00 payable in Ootober, 1900 900,000 00 CURRENT LIABILITIES. and Rentals Due and Unpaid, including amount due July 1, 1900. Audited Vouchers (including new construction and newequipment) Unpaid Wages, including June Pay Rolls $1.9<1 9.531 68 1,252,970 923,63» 30,113 398.217 Interest 8o 17 20 24 Foreign Freight Claims; Authorities Issued Due Connecting Line? 292,2c6 8b Due 4,806.708 02 2,366,563 88 Individuals and Companies TOTAL CURRENT LIABILITIES. PROFIT AND LOSS (see Tables $1,909.067 27 2,048,393 35 1,114,111 60 35,667 03 391.533 11 631,040 76,129,813 08 2 and 3.510,701 86 3) $398.750,8v0 41 $318,903,571 67 TABLE 2.—INCOME ACCOUNT FOR YEAR ENDED JUNE 30, 1900, COMPARED WITH YEAR ENDED JUNE CREDIT. 1899. 30, 1899. 1900. BY GROSS EARNINGS: $7,083,253 14 16.09i»,2>-3 28 1,261,421 57 605,4 9 II 404,248 97 Passenger $7,737.454 21,006,730 1,327,807 638.513 4b0,364 Freight Mall Express Miscellaneous $25,353,686 07 $6,12* 00 97,298 62 $31,200,869 89 & Lenoir Bonds Dividends on A'abama Great Southern Stock Dividends on Norfolk & Carolina and Georgia Southern & Florida Stocks and Interest and Dividends on Ala. Steel & Shipbuilding Co. Bonds and stock Interest on U. 8. Government bonds Interest on Northern Alabama Bonds Dividends onBirmingham Southt-rn Stock Interest and Dividends on Hartwell RR. Bonds Interest on Atlantic & Yadkin Bonds 2,550 00 7,050 41 8,166 67 1,944 80 $100.0=15 19 and Stock BY MISCELLANEOUS INCOME FROM OTHER SOURCES: Net Income from Congresses and Other Property Earnings from shepherd's Ferry, Alexandria, Va. Net amount received in adjustment of earnings of Atlamio & Yadkin Ry. accruing prior to date of purohase and delivery of the prop- 4,283 39 14,211 23 erty $6,125 00 97,084 13 117,541 50 Miscellaneous 209,920 00 12 97 36 BY INCOME FROM INVESTMENTS: Interest on Chester 8%784 50 11 33 5,100 18,171 28.806 2,0l0 00 67 78 00 1,588 80 276,417 88 $28,910 85 13,476 75 118,549 81 42,387 60 $25,682.15* 8* $31,519,675 37 : , . O . 1 THE CHRONICLE. 452 Table 2.—INCOME ACCOUNT FOR YEAR ENDED JUNE [Vol, LX3I. COMPARED WITH YEAR ENDED JUNE 30, 1900, 30, U 99- (Concluded.) DEBIT. 1899. 1900. TO OPERATING EXPENSES AND TAXESMaintenance of Way aiid Structures.. 13,597,261 37 3,792.304 16 8,296,428 45 Maintenance of Equipment Conducting Transportation General Expenses Taxes 814.53174 855,829 65 $17,356,355 37 $4,665,231 4,635,351 10,475,930 1,007,143 1,047,790 , 20 28 11 46 86 121,831,446 88 TO FIXED CHARGES, INCLUDING RENTALSMtge.— $28,639000 So. Ry. 1st <^ons. 12mos., $1,431,950,5 June 11th 1,396,000 $1,406,950 225,000 203,320 6,000 00 00, 12 00,12 " 00, 12 " 52,000 00,12 " Account purchase 359,820 168,4*0 41,683 41,000 20,000 22,500 9,0(0 151,860 99,875 35,000 00, 00, 33, 00, 00, 00, CO, 00, CO, 00, 120,01 00, 218,610 tO, 155,300 00, lm. 12 12 12 12 12 12 12 12 12 12 12 12 638,500(0, 12 60,000 00, 12 120.000 00. 12 339 600 01', 12 20,740 00, 12 36,000 00, 12 114,000 CO, 12 66,000 00, 12 38,000 OO, 12 88,750 00, 12 65,500 00, 12 242,950 00, 12 35,300 00, 12 266,000(0, 12 20,000 °0, 12 297,500 00, 12 45,000 00, 12 102,000 00, 12 4,000 00. 12 40.000 CO, 12 1,050 00, 12 S. C. & 225,010(0 203,320 00 12 mos., $4,500,000, 5 12 mos., 5,083,000,4 12 mos., 150,000,4 Aiken Branch 1st Mtge Oeitiflcates of Indebtedness — Account of Memphis Div 6.C00 00 12 mos., 6 28,000 OO 12 mos., 5 91,055 55 12 mos., 5 15dys., 12 mos., 12 mos. .12 mos., 12 mos.. 12 mos., 12 mos., 4 5,997,000, 6 3,368,000, 5 3,222 22 ),666 66 359,820 00 168,400 00 35,450 00 41,000 00 20,000 00 22,500 00 9,000 0< 151,860 00 99,875 00 35,000 00 120,000 00 218,610 00 1 55,300 < 638,500 00 60,000 Oi 120,000 00 339,600 0< 14,860 00 36,000 00 114,000 00 66,000 00 38,000 00 88,750 00 65.P00 00 242.950 00 35.300 00 266,000 00 20,000 00 297.E00 00 41,250 00 102,000 00 4.000 00 40,000 00 1,050 00 G. and No. Ala. Securities 13,055 55, 1 m. 17d, 2,090 27, $1,435,440 00 E. T. Reorganization Mtge Memphis Division let Mtge irios. p.O. 3,490, 5 to 30th, Account purchase Car. Mid. and & S. 13d. irios. " " " " R W. O. Eq. R. Y. " " " E. Securities Account Extension Car Mid Mtee &D. 1st Cods. " Debenture 8. F- " " " & W. 1st R. &0. 1st 2d & O. 1st W.N. Cist Cons. C. C. & A. 1st Ext. 2d C. & G. 1st E. T. V. &G. 1st A. T. " " " " " " " " " " " " " " '* " " " " " 1st Cons. Ala. Cent. 1 st K. & O. 1st Ga. Pac. i st Eq. S. Va. Mid. Serial " " " " " " " " 12 mos., 12 mos., 12 mos., 12m08., 12 mos., 12 mos., 12 mos., 12 mos., '• " " F. A. B O " " " E F " D .12 mos., 12 mos., 12moF,, 12 mos., 12 mos, 12 mos., " " General & R. RR. Rental North Carolina RR. Rental A. & 0. A. L. 1st Mtge. Pref.. '« C. " " " " 12mos., 12 mos., 12 mos., 12 mos., 12 mos., 12 mos., '* " 12 mos., 12 mos., Mtge *Ineome Extended 12 mos., 1st Stock Organization " " 12 mos. 12 mos., 12 mos., 12 mos., 12 mos., Exp 1st Mtge Athens Belt Line Rental.. Wil. & Wei RR. and Norfolk S. &C. U. 6,207,252 80 $21,982 62 1.500 93 544 68 5 4ifl 6 6 5 7 6 7 5 ft 6 6 6 5 6 6 1,100,000,6 950,000, 4 1,775,0C0, 5 1,310,000, 5 4,859,000, 5 500,000, 4,250,000, 750,000, 1,700,000, 4 7 4 6 1,000,000, 4 69,498 64 6,022 56 6,125 00 49,500 00 12,600 00 287.083 33 60.000 00 87,000 00 105,85 3 34 12 mos., 6 mos., 21 dys. 7 mos., 12 mos., 1,650,000, 3 12 mos., 12 mos 12 mos., 1,500,000, 4 12 mos., 10 mos., Chas. Chas. 49,500 00, 12 8,4 00 00, 8 47,083 33, 2 15,000 00, 3 26,000 00, 4 5 4 & Carolina RR — Trackage & Real Estate Rental & Savannah Ry. Trackage & West. Car. Ry Traokage Georgia Midland Ry. 1st Mtge Rich. & Meek. RR. Rental South. Car. & Ga. RR. Rental Atlantic & Yadkin 1st Mtge Mobile & Bir. RR. Rental Atlantio & Danv. RR. Rental 68,915 32, 12 697,000, 1,025,000, 400,000, 500,000, 150,000, 2,531,000, 1,P97,.E 00. 500,000, 2,000,000, 3,123,000, 3,106,000, 12,770,000, 1 ,000,000, 2.000,000, 5,660 000, 282,000, 600.000, 1,900,000, 1 , 6,755,442 SO TO OTHER DEDUCTIONS FROM INCOMEMiscellaneous Interest and Commissions R. & M. RR. Traffic Contract $13,022 53 2,512 18 Miscellaneous 24,028 23 15,534 71 TO DIVIDENDS— Dividend No. 5 on Preferred Stock $60,000,000, \^ Dividend No. 6 on Preferred Stock, payable in October, 1900, but reserved out of Income for fiscal year ended June 30, 1900 60,000,000, 1*8 2,094,519 48 30, 1900. $3,546,126 16 35,424 30 Miscellaneous Debits Credit Balance carried forward June 30, 1900 TABLE! 4.—FUNDED DEBT JUNE PrinClasses of Bonds. $3,510,701 86 Interest. 30, 1900, AND Amount 1899. Outstanding. cipal Due. Due. Bate. P. Ct. June 30, June 30, 1900. 1899. Southern Ry.: $ $ 1st Cons. Mcrt. Bonds.. 1994 J -J 5 (31,311,000 * 30,033.000 "EastTenn." Reorg. M. 1938 M- S 5 4,500.00( 4,500.000 Memphis Div. IstM 1996 J - J 4-4*2-5 5,083,000 5.083,000 Memphis Div. 2d Mort (owned by So. Ry. Co. 1996 A-0 5 1,500.000 1,500,000 Aiken Branch 1st Mort. 1998 J - J 4 150.OU0 150,000 Richmond & Danv'le RR.: 1915 Consol. Mort. Gold J J 6 0,997,000 5.997,000 Debet ture Mortgage... 1927 A-O 3,3t8.00c 5 3.3G8.O0O Equip. Sinkir g Fund M. Var. M- S 5 697,000 802,000 Ohio West. BR: Wash. & 1924 F -A 4 1,025,000 1,025,000 Richmond York River & Chesapeake RR 1910 J - J 5 400,600 400.000 4^3 1910 M-N . 2d Mortgage ... 500,000 500,000 AtlantioTenn.A OhioRR.: 1913 A-0 6 150,000 150,000 West. No. Carolina RR 1914 T - J 2.B31.000 1st Consolidated Mort. 6 2.R31.O0O : 900,000 00 1,800,000 00 1,117,25150 $3 1,6 19.675 37 Interest. Prin Balance at Credit of this Aooount June 30, 1899.. $2,366,563 88 Add : Credit Balance of Income Account for year ended June 30, 1900 1,117,25150 Miscellaneous Credits 62,310 78 Deduct: " 9 months at 6 per cent, 3 months at 4 per cent. AND LOSS YEAR ENDED JUNE 3.— PROFIT $900,060 00 BALANCE CARRIED TO CREDIT OF PROFIT AND LOSS FOR THE YEAR $25,682,155 88 TABLE " Classes of Bonds. cipat Bate. P. Ct. Due. Due. Charlotte Col. & Aug.RR.: 1909 J - J 1st Extended Mort Amount June Outstanding. 30, ! JuneSQ, 1899. 1900. $ 5 7 190:; A.2d Mortgage Columbia & Greenv. RR.: 1916 J - J 1st Mortgage EastTenn. Va. & Ga. Ry.: 1900 J -J 1st Mortgage 19.J 1st Mottgage Consolidated Mortgage. 1956 M- 7 5 5 1,997,500: 1,997.500 500,000 500 000 2,000,000 J. 000,000 3,123,000 3.106,000 12,770,0.0 3.123.00O 3,106.000 12,770,000 Alabama Central RR.: 1st Mortgage Georgia PaoifioRR.: 1st Mortgage Equip. 8lDking Fund Knoxville & Ohio RR.: IstMortgage Spartanb. Un, & Col. RR.: IstMortgage Virginia Midland Ry.: M F. General Mortgage Charlottesville & Rapl dan RR. 1st Mort Atlantio & Yadkin Ry.: - J 6 F-A ,000,000 1.000.C00 1 5,660,000 282,000 5.560.000 402,000 1925 J -J 2.000,000 2,000,000 1995 J - 1,000,000 1.0C0.000 M M M M M M- 1949 J 6 6 Q 4 600,000, 1,900,000 1,100,0001 600.000 1,900 000 1,100.0(0 ;>.-,(t,000 950,000 M-N 5 1,775,0001 1.310.000! 5 4,859,000 ,775,000 1,310.000 4.359.0C0 - J 6 325,700 340.8CO A-0 4 1,500,000 1,500.000 1913 J IstMortgage t 1922 J 1900 1911 1916 1921 1926 1931 1936 E.'.": * - J Var. Serial Mort., Series A... " " " B.. " >< " C... " " " D. Total as per Bal'noe Sheet 1918 J 5 S 1 . . 1 104.970 200 103.93?.?00 Including $1,394,000 free in Company's treasury, June 30, 18W. " » 1900. " " 1,276,000 : September THE CHRONICLE. 1, 1900. J Principal Due. Due. Rate. Atlanta & Charl'te Air L. Ry.: 1st viort. Preference Bonds 1907 A-0 1907 J - J 1st Mortgage Bonds •Inoome Mort. Bonds, Ext. 1907 A-O M-8 4 7 4 6 ERN RAILWAY June 30, 1900. * 500,000 30, 899. $ 750,000 1,700,000 500,000 4,250.000 750,000 1,700,OCO 7,200,000 7,200,000 4,000,000 4.000,000 4,250,000 J - J Georgia Midland Rv.: A-O M-N 3 1,650,000 1,650,000 5 5,250,000 5,250,000 1924 J- D Sumter & Wateree River RR.: 1919 A-O 1st Mortgage Bonds Mobile & Birmingham RR.: 1945 I - J 1945 J - J 5 400,000 400,000 5 100,000 5 600,000 l,200,0u0 900,000 600,000 1,200,000 900,000 2,700,000 2,700,000 308,000 1st mortgage Bonds Georgia RR.: So. Carolina & 1946 1919 Augusta Southern RR.: J-D Richm'nd & Mecklenb'rg RR. 1st & AND BY 1948 4 Railroad Bonds— Alabama Central RR. Co Danville & Western Ry. Co Elberton Air Line RR. Co High holnt R. A. & So. RR. Co No. Carolina Midland RR.Co June 30, 1900. Par Value. Income Bonds and Scrip. 1st Mtge. 5 p. o. 1st Mtge. 7 p. c. Piedmont RR. Co „ Piedmont RR. Co So. Ry. Co. In Kentucky Western North Carolina RR. Co Washington Ohio & Western RR. Oo Yadkin RR. Oo 1,238,000 3,099,200 Chesapeake Steamship Co 998,i;00 4,337,200 Total other Securities. Other Securities— «• 25,95^,200 21,508,000 $1,725,000 4,540,050 1,111,300 $8,374,550 5 Payment of prinoipal extended from April 1, 1900. to January 1, 1907. and interest reduced from six to four per cent per annum. Of the $750,000 outstanding, $744,000 had been thus extended on June 30, 1900. Class "A." Class "B." Total Stocks J Total as per Balance Sheet. c. c. c. o. — Railroad Stocks Alabama Great So. Ry. Co., Limited " " •« •« Knoxville & Ohio RR.Co Southern Ry. Co. in Kentuoky 315,000 - c. c. c. o. o. $1,355,275 1.051,000 150,000 402,000 801,000 500.000 500.000 3,000.000 200,000 1,3 45,000 221,000 615.000 $10,120,275 4 1950 J 1st Mtge. 6 p. lft Mtge. 6 p. 1st Mtge. 6 p. 2d Mtge. 6 p. 1st Mtge. 5 p. 1st Mtge. 5 p. 1st Mtge. 6 p. 1st Mtge 4 p. 1st Mtge. 6 p. Total Bonds M-N Danville Ry.: Mortgage Bonds IT Name of Secukitt. June J CO., So. Ry. Co. in Mississippi North Carolina RR.: Atlantic ITS Amount Outstanding. P. Ol. OWNED BY 80UTH PLEDGED UNDER FIRST CONSOLIDATED MORTGAGE DEED-JUNE 30, 1900. Table 6.—STATEMENT OF SECURITIES Table 5.—OUTSTANDING SECURITIES OF LEASEHOLD ESTATES. In'erest. 453 " Certificate of Indebtedness. " ....Capital Stock Total Bonds, Stocks $250,000 400,000 $650,000 and other Securities $19,144,825 * REPUBLIC IRON FIRST Book Valuation, as per Balance Sheet & STEEL COMPANY. ANNUAL REPORT— FOR THE FISCAL YEAR ENDING JUNE Executive Offices, Chicago Stock Exchange Building Chicago, August 21st, 1900. 30, 1900. Northern Furnaces with coke from our own ovens as soon as additional ovens are erected. I To the Stockholders of the Republic iron & Steel Company : Your directors herewith beg to submit to you their report and statement of accounts for the fiscal period ending June 30, 1900. CONDITION OF PLANTS. The various plants taken over by this Company have, with but few exceptions, been in full operation since the organization of this Company. A great deal of money has been spent at many of our plants to improve their physical condition, and generally our plants have been greatly improved since they were taken over. These expenditures, however, have been charged to operating expenses and form no part of the " New Construction Account " in the balance sheet. NEW CONSTRUCTION AND $13,544,927 ACQUISITIONS. The Bessemer Steel Plant, which we have been erecting at our Brown-Bonnell Works, Youngstown, Ohio, has recently been completed. Its present capacity is 600 tons per day, but as soon as the new billet mill is completed this plant will have a daily capacity of 1 ,000 tons. are now enabled to supply our Mills with steel from this Plant, and are placed in a much more independent position than we were during the past year. The Plant is equipped with all modern labor-saving appliances to produce steel at the lowest pos- We sible cost. We have opened up coal mines on the Pioneer property, at Sayreton and Warner, Alabama, and are also erecting an additional Blast Furnace on this property at Thomas, Alabama, which will be completed towards the end of this year. This Furnace, when completed, will be the most modern and best-equipped Blast Furnace in the South. We are also erecting additional coke ovens at Thomas, Alabama, to supply this Furnace with coke. When these improvements are completed we will have a group of three well-equipped Blast Furnaces and 850 coke ovens at this THE OUTPUT. The principal articles manufactured by the company are Merchant Bar Iron and Steel, Bessemer, Foundry and Mill Pig- Iron. In addition thereto our output comprises a con siderable tonnage of nuts, bolts, washers, rivets, cut nails, railroad and boat spikes, cold-drawn shafting, turn buckles, car axles, forgings, angles, tees, harrow teeth, channels, _ra il s splice bars, frog fillings, rail fastenhexagons, small ings, special shapes for bicycle makers and for builders of The ancars, implements, carriages, wagons and bridges. nual capacity of finished material exceeds one million tons. T > PROFITS AND DIVIDENDS. to the large amount of finished material which had been contracted to be manufactured by the constituent companies at low prices for delivery during the last half of lb99, prior to the time the plants were turned over to this company, we did not receive the full benefit of the high prices ruling during the first six months after the organization of the Company; nevertheless, the net profits of the Company, after deducting all expenses, and allowing for depreciation, were $3,643,728 92. Of this amount $1,421,679 00 has been paid by way of dividends on the preference shares of the Company, leaving a net surplus of $2,222,049 92. The value of raw and finished materials and supplies in the balance sheet has been arrived at by reducing the cost thereof to the present ruling prices, which are lower than the prices at the close of the fiscal period (June 30th) and are on a safe and conservative basis. The deductions for Owing , shrinkage and depreciation have been made under the supervision of the Executive Committee. From the annexed balance sheet it will appear that the current assets of the Company on June 30th amounted to $8,892,031 35 and the current liabilities to $1,379,278 67, leaving (after payment of dividends) an excess of current assets over current liabilities of $7,512,752 68. paint. LIABILITIES. Of the 26,000 acres of land comprising the Pioneer property in Alabama, 14,000 acres are underlaid with coal which makes an excellent quality of coke, and is also a firstclass steam coal; 10,000 acres are underlaid with a fine quality of brown ore and red ore, and the balance of the property consists of limestone quarries, town-site and adjacent ground. The Pioneer property has sufficient ore, coal and limestone to supply several furnaces for many years. have acquired during the past year an interest in the Mahoning Ore Steel Company's ore property on the Missaba Range in Minnesota, and also a one-half interest in the Union Ore Company's property on this range (a highgrade Bessemer ore). This, in addition to the ore properties originally acquired by this company, insures us a full supply of lake ores for our mixture in making Bessemer pig-iron at We The company has no bonds outstanding and no mortgages or liens of any description on any of its properties, except the deferred payments ($214,000, payable in six annual instalments) on the Connellsville coal lands acquired since its organization. have no "Bills Payable," and the "Current Accounts Payable" shown in the balance sheet have all since been discharged. We INSURANCE. & our Northern Furnaces. We have also purchased 550 acres of additional coal lands in the Connellsville region, and will be able to supply our of the Company are protected by fire insurance, the officers and employes occupying positions of trust are under surety bonds, and the Company carries a safe line of accident policies. The plants THE FUTURE. During the coming year the Company will be in a posi- tion to concentrate its operations in the plants offering the THE CHRONICLE. 454 efficiency and cheapness of location nearest the geographical well to as production, as markets of consumption. It will also have the benefit of its new steel plant, new blast furnace and new coke ovens, as well as of the new mines opened. The expenses of the Company will also be greatly reduced, the work having now been so systematized as to require a much smaller clerical force. invite your attention to the annexed balance sheet and profit and loss account, certified by the Audit Com most favorable conditions as to We pany For of New York. the Board R. S. Warner, Esq., President of the Republic Iron Chicago, A. S. Thomas 30, 1900. LIST Beal Estate, Plants, Buildings, Machinery and other $41,142,251 58 Permanent Investments New Construction, including New Steel Plant at Youngstown, opening of new Coal Mines and work 1,218,203 44 on new Blast Furnace at Birmingham 547,200 00 cost in companies at Stock sundrv New Gas Pipe Lines and prepaid Gas Leases, prepaid 116,73057 Insurance, Royalties, etc Inventories of Raw and Finished Materials and Sup4,132,730 01 plies at market value 3,008,968 75 Accounts and Bills Receivable 1,203,132 59 Cash on hand $51,369,216 94 LIABILITIES. Capital Stock issued— Preferred $20,852,000 00 545, I 00 00 $20,306,900 00 Less in Treasury ...$27,352,000 00 161,000 00 27,191,000 00 $47,497,900 00 1,023,907 92 Current Accounts Payable Preference dividend No. 4 (paid July 2, 1900) Deferred Instalments on purchase of Coal I ands, payable in six annual 355,370 75 Fur- 3,643,728 92 1,421,679 00 Preferred Stock 2,222,049 92 $51,369,2'. 6 Obe Properties. Location Designation. Cambria Mine (Marquette Range) Negaunee, Mich. Lillie Miue (Marquette Range) Negaunee, Mien. Franklin Mine (Missabe Range) Virgin a, Minn. Besst-mer Mine (Missabe Range) Virginia, Minn. Victoria Mine (Missabe Range) Virginia, Minn., Mahouiug Ore & Steel [4-50th Int (Missabe Range)... Hibbing, Minn»' Virginia, Minn. Union Ore Co. [1 2 Int ] (Missabe Range) Raimund Mine (on Pioneer Property). Near Birmingham, Ala. Spaulding viine (on Pioneer Property) Near Birmingham, Ala. Gothite Mine (on Pioneer Property) Near Birmingham. Ala. Coke Properties. Nicholson, Pa. Connellsville Coke Works Pioneer Coke Ovens Thomas, Ala. Coal Properties. Springfield Mine Springfield. Til. Sayreton Mine (on Pioneer Property) Near Birmingham, Ala. Warner Mine (on Pioneer Property) Near Birmiignam, Ala. Nicholson, Pa. Woodside Mine (Connellsville District) Limestone Properties. Croton Limestone Works Newcastle, Pa. Dale Limestone Works (on Pioneer Property).. Near Birmingham, Ala. Lowellvilie, O. Union Limestone Works (l-6th Int ) Blast Furnaces. Thomas, Ala. Pioneer No. 1 Thomas, Ala. Pioneer No. 2 Thomas, Ala. Pioneer No. 3 (being constructed) . ] New 94 PROFIT AND LOSS ACCOUNT FOR THE FISCAL PERIOD 30, 1900. Profits from the business of the Company after deducting all expenses, exotpting repairs, renewals »nd possible loss in collection of Outstanding Acoounts and Bills Receivable $5,684,100 87 Less amount expended for Improvements, Benewals and Repaits and Deduotion for Depreciation of elants $893,013 89 Youngstown, O. Haselton Hall Sharon, Pa. Steel Plants. Youngstown, 0* Columbia Heights MinnBirmingham, Ala. Railroads and Docks. Sharon Connecting RR Madison County BeltRR Mahoning & Shenango Dock (1 alonhand 1,097,358 06 Alexandria Works able $3,643,728 92 first fiscal period 1,421,679 00 Net 8urplus after providing for Dividends on preferred stock Swift New $2,222,049 92 & Co.— Bonds Offered.—The American Trust & Leach & Co., SavChicago and York, offer by advertisement on another page, at 1<»23^ interest, $1,000,( 00 of the company's first mortgage gold 5s, dated July 1, 1900, doe Jaly 1,1914, optional after July 1, 1910. Principal and semiannual interest (Jaimary and and July) payable at the National Bank of the Republic, New York City, or at the office of the trustee, the American Trust Savings Bank, Chicago. The company's bond issue is $5,000,00u and its capital stock $20,000,01 0. Of the $5,000,COO bonds, about half have been subscribed for by the stockholders of the company at 102^ and interest. Tne bonds are secured by an absolute first mortgage on the packing and refrigerating plants, including machinery and appurtenances of Swift & Company, this loan of $5,000,000 being the total bonded indebtedness of the company. An estimate of the re duplication value of the company's plants is given as more than |11,000,000. The company has paid cash aividends ever since its organization, said dividends being never less than 6 per cent per annum, at the present time the rate being 7 per cent per annum; the total dividends paid to July 2, 1900, aggregate $14,482,931. The net earnings for the year 1899, & Mahoninsr Valley Works... New Albany Works 50,000 00 2,040,371 95 Net profits for the 14 months Dividends on Preferred Stock declared during & 8teel Works Birmingham Roiling Mill Works... Brown Bonnell Works Central Woiks Corns Works Cleveland Works Easrle Works Indiana Woiks Inland Works Leetonia Works Atlantic Iron Mitchell-Tranter Works Reserve for popsible loss in collection of Outstanding Accounts and Bills Receiv- 9th Int.) Sharon, Pa. Alexandria. Ind. Ashtabula, O. Rolling Mills. Marion Works Minnesota Works Munoie Works Amount deducted from Ledger values for depreciation in Raw and Finished Materi- ings Bank, Chicago, and Farson, Castle, Pa. ....Youngstown, O. .. Alabama Woiks Andrews Works ENDING JUNE Greene, Manager. Bessemer Steel Plant Minnesota Open-Hearth Sfrel Plant Birmingham Open-Hearth Steel Plant and Loss Accounts- Net Profits for the fiscal period (14 Montbs) ending une 30, 1900, per account annexed Less Seven Per Cent Dividend on York, OF PROPERTIES OPERATED AND OWNED OR CON TROLLED BY REPUBLIC IRON & STEEL COMPANY. 55,988 35 naces, eto New Western Manager, Howell, Western Secretary. Hannah 214,000 00 Re-lining L. Atlantic payments Reserve for Taxes, W. Dunning, Attest: ASSETS. Common ac- Approved: Warner, F. J. BALANCE SHEET JUNE III. counts of the Republic Iron & Steel Company for the fiscal period (14 months) ending June 30, 1900, and in accordance therewith certify that the foregoing statements of Profit and Loss Account and the General Balance Sheet are true exhibits of the results of the operation of the company for said fiscal period, and of its condition as of June 30, 1900, as shown by said books and accounts. The Audit Company of President. Less in Treasury & Steel Company, D*ar Sir:— We have made an audit of the books and of Directors, Randolph Profit [Vol. LXXI. Sharon Works Sylvan Works Works Toledo Works Tudor Works Terre Haute Works * abash Works Westerman Works Wetherald Works Springfi-ld Alexandria. Ind- Birmingham. AlaYourgstown, O- New Castle, Ind- Birrulneuam, Ala- Youngstown, O. Brazil, Ind. Massiilon, O. Cleveland, O. Ironton. O. Muncie, Ind. E.Chicago, Ind. Leetonla, O. Youngstown, O. Marlon, Ind. Columbia Heights. Minn. Muncie, Ind. Covington, Ky. New Albany, Ind. Sharon, P*. Molina, UL SpringfleH. 111. Toledo, O. E. St Louh»,Ill. Terre Haute, Ind. Terre Haute, Ind. Marion, Ii d. Frankion. Ind. after deductions providing for depreciation, repairs, taxes, interest and insurance, were $2,152,174. See last report in V. 70, p. 174.— V. 70, p. 1167. United States Cast Jron Pipe & Foundry Co.— To Pass We are informed that for good business reasons, in which the public have but little interest, it is deemed conservative action to suspend dividends for the time being. The directors have therefore decided to pass the fourth quarterly dividend of \% per cent on |the $12,5^0,000 of preferred stock.— V. 71, p. 88. Dividend. — — For September investments Messrs. Redmond, Ktrr & list of high-grade bonds and guarTheir advertisement will be found on page anteed stocks. Co. offer for sale a st-lected viii. — The Farmers' Loan & Trust Company will pay dividends on a number of securities, list of which will be found in another column. Winslow, Lanier & Co. will pay dividends on a number of securities, list of wbich will be found in another column. — N. W. Harris & Co. will pay dmoends on a number of securities, list of which will be found in another column. — . September c THE CHRONICLE. 1, 1900.] 455 COTTON. %\tt (frommzxtml <pmjes. Friday Night, August 31, 1900. The Movement of the Chop, as indioated by our telegrams from the South to-night, is given below. For the week ending Friday Night, August 31, 1900. evening the total receipts have reaohed 21,261 bales, this commercial circles in has undergone situation The businees no radical changes. For the week trading has been quieter against 8,115 bales last week and 3,012 bales the previous as the close of the month being at hand and the near ap- week. proach of a holiday, which in some trades will extend from COMMERCIAL EPITOME. Friday night until Tuesday morning, has had a tpndency to hold buyers in check. Confidence in the future prospect for business appeared to be fairly general, and a fair average demand is expected during the remainder of the year. Considerable attention is being given to the situation of the coal market and the prospects of developing an export business to Europe. Reports from the iron and steel markets have been fairly f ncouragiDg, reporting an improvement in demand, with prices showing a better undertone. Crop news from the West and Southwest has baen generally favorable, bat from the Southern Atlantic and Galf States it has been of a conflicting character. Lard on the spot has been decidedly lees active, both exporters and refiners being slow buyers, and prices have declined under moderately free offerings. The close was quiet at710c. for prim-5 Western and 6-6jc for prime City. Refined lard has had only a small sale and prices have weakened to 730c. for refined for the Continent. Speculation in lard for future delivery has been quiet, and owing to increasing receipts of swine prices have declined. Close was quiet. DAILY CLOSING PRICES OF LAUD FUTURES. Hon. Sat. Wed. Tuts. Thurt, 7-10 Fri. 7-05 710 7-10 715 7 10 August for pork has continued quiet, but Business in the market prices have held about steady, closing at $1V@13 for old mess and $12 75@13 50 for new mess, $15@15 50 for family and $13 50@15 50 for short clear. Cut meats have sold slowly, and the tendency of prices has been in buyers' favor, closing at 6J£c. for City shoulders, 8%@\0}4c. for pickled bellies, 14@10 lbs. average, and 10@lu%c. for pickled hams. Beef has been unchanged and steady at |9>@9 50 for mess, $10@11 for packet, $10 50@11 50 for family and $14 25@16 50; for extra India mess in tcs. Tallow has been without changes and quiet at 4 7-16c. Oleo stearine has had abetter sale, closing firmer at 7%c. Lard stearine has held steady at about 8c. Cotton-seed oil has been quiet and prices have weakened to 343^@35c. for prime yellow. Butter has continued firm for desirable grades, and prices have advanced slightly, closing at 18@22c. for creamery. Cheese has been quiet, but prices have held about steadv, ranging from o%@lOJ^c. for State factory, full cream. Fresh eggs have been firm and higher for choice stock, closing at 17@17>£c. for choice Western. Brazil grades of coffee have received slightly increased attention, there being some improvement in the distributing business, and prices have been steadier. railroad strike in Santos caused a temporary check in the receipts. Brazil markets have been firmer. The close was quiet at 8^c. for Rio No. 7. West India growths have had only a small sale, but values have held steady at lOJ^c. for good Cucuta. East India growths have been in fair demand and firm. Speculation in the market for contracts has been moderately active. There has been some buying for European account and prices A have advanced slightly. The close was easier, reflecting weaker foreign advices. Final asking prices were : Dec 7-70c 7-55o. March °ot Jan 7 -75a 7-60o April Nov Feb 7-800. 7-650.1 May Raw sugars have been firm; offerings have continued small, owing to scarcity; prices have been unchanged at 4% c. for 8«pt 7-30o. 7-350. 7-450. I I I centrifugals, 96 deg. test, and 4J^o. for muscovado, 89-deg. test. Refined sugar has been in active demand and prices have been advanced 5 points, to 6-15c. for granulated. Other at— Receipts Mon. Sat. Oalveston Wed. Tuts. TKurs. Fri. Total. 1,139 1,115 1,133 1,384 994 1,154 6,919 337 20 1,518 435 494 287 181 3 2,828 5,586 8 232 882 616 1,028 2,220 1,521 1,021 7,031 118 114 408 74 1.124 2 59 120 197 271 185 331 2 111 16 95 193 281 322 201 97 1,108 Bab. Past, &o. New Orleans... 125 Pensaoola, dco. • 625 Brunsw'k.&c. 79 Charleston..... Pt. Royal.Ao. Wilmington.... 943 Wash'ton.&o. N'p't News, &o. 97 New York Boston Baltimore *c. 40 week 2,315 PMladel'a, Tot. this 3,594 3,707 493 24 12 493 64 6.494 24,261 12 ' 3,280 4.871 The following shows the week's total reoeipts,the total since and the stock to-night, compared with last year, Sept.l , 1899, 1899-1900. Receipts to Aug. 31. 1898-1899. Since Sep, 1, 1899. This week. This week. Stock. Since Sep 1, 1898. 1900. 1899. Galveston... 6,919 27,737 3,634 24,603 8ab.P.,&o New Orleans Mobile 5,586 11,409 1,338 3,104 12.233 34,714 4,529 126,405 8,290 9,152 17,338 882 P'saoola.&c. Savannah... Br'wlok.&o. 7,031 Charleston.. P. Royal. &o. 1,124 2 3,722 2,789 9,315 Wilmington. Waeh'n, Ac 943 1,692 3,094 10,464 1,108 97 1,738 3,227 15,143 12 36 742 22,637 2,500 493 64 580 1,086 150,821 4,000 3,000 4,581 24,261 64.831 87,862 374,675 500 Norfolk.... N'portN.,Ae New York... Boston Baltimore . Philadel.&o. Totals 715 BOO In order that comparison may be made with other years, we give below the totals at leading ports for six seasons. at— Receipts Galvee'n.&o. New Orleans Mobile 6,919 5,586 Savannah... 7,031 1,126 1897. 1898. 1899. 1900. 22.144 20,167 469 4,809 1,566 1,108 27.737 11,409 1,338 12,233 3,722 1,692 1,738 N. News, Ac. All others... 97 569 4,962 1,345 414 128 79 495 wk. 24,261 64,831 32,250 50,271 882 Ohas'ton, &o. Wilm'ton, &c 943 Norfolk 19,196 5,237 1896. 355 3,813 952 190 1,132 1895. 42,357 27,537 3,428 20,648 10,200 6,179 5,684 193 3,575 6,515 664 444 116,890 15,093 329 3,431 677 35 16 71 , groceries have been unchanged. Kentucky tobacco has been firm on the unfavorable crop news. Seed leaf tobacco has been fairly active and firmer. Sales for the week were 3,480 cases, as follows 1,400 cases 1899 crop, New England Havana, 15@60c; 550 cases 1899 crop. New England seed, 22@50c; 450 cases 1899 crop, flats, 13@18c; 300 cases 1899 crop. Zimmers, private terms; 150 cases 1893 crop, Zimmers, 14%@l5%c; 100 cases 1899 crop, Wisconsin Havana, private terms; lbO cases 1898 crop, Wisconsin Havana, ll%(a>12%c. 100 cases 1899 crop Pcnn. Havana seed, private terms; 200 cases 1899 crop Pennsylvania seed leaf, private terms, and 100 cqses 1898 crop, Pennsylvania seed leaf, 12c: also 650 bales Havana at 40c.@$l 00 in bond and 175 bales Sumatra at 8-Jc.@$l 75 in bond. Straits tin has declined but at the close there was some recovery, rt fleeting stronger foreign advices, and on some improvement in demand closing at 30-80@31-20c. Ingot copper has been quiet but steady at 16%c. for Lake. Lead has been advanced, closing steady at 4-37^c. for domestic. Spelter quiet but steady at 4-10@4-15c.for domestic. Pig-iron in fair demand and steady, closing at $i3@17 for domestic, petrol- um has been steady, closing at 8-05-. in vv? bbls., 5 50c. in bulk and 9-85c. in cases. Naphtha unchanged at 9 -55c. Crude certificates have been neglected. Credit balances have been unchanged at $ I 25. Spirits turpentine has been dull and easier, closing flat at 36@3ft^c. Ronns have weakened slightly, closing dull at $1^50 for common and good strained. Wool has been dull and prices have ruled in buyers' favor. Hop3 in fairly active demand and firm. : Tot. this Since Sept. 1 The exports for the week ending this evening reach a total which 7,251 were to Great Britain, 2,206 to Franoe and 2,647 to the rest of the Continent. Below of 12,104 bales, of are the exports for the Exvorti from— sinoe Sept. Week Endlnt Aug. 31 .1900. Exported to— Great ; week and France Brit'n. »»•••• •••••. Mobile Pensaoola •••••• ..... Savannah Aug. Exported to— Sept. 1, 1899, to Great Conti- lotal franc nent. Week. Britain. 476 4.501 ••••• •••••• 4,026 Sab. Pass, Ac. New Orleans.. From 142 1,642 •••••• •••••• ••.... •••••• ••••• .••••• •»•••. >••••. 1,500 Branswlok.... . *•••• •••• • a • a aaaa •••a.. aaa. aa a •*••• • ••••a a* • •«•• .aa.a • , .••••• *••••• a a a • • • WUmlnjrton... Norfolk N'Dort N., ••«••* *•••• •••*• •••.• a • • a ..... *!••». •••••• 115 ..*... - 2,492 706 889 *•••• 2,029 *•••• ...... •••«•• • 7,251 2,208 2,647 12.104 15 707 2.0f0 20.P41 37 841 Baltimore Philadelphia.. . a . . . . . 80 ... a > a a ....a aaaaa* •••••« *•• . a a a a a a »•••.. • • • • Charleston.... Port Royal.... Ac 1, 1899. a • • *• ••«• 415 5,227 a . a a .. 289 so •••• San Fran., Ac. Total. 1898-99. *""" OontU nmt. 31, 1800. lot mi. . '' " . ' 1 THE CHRONICLE. 466 In addition to above exports, our telegrams to-night also give us the following amounts of ootton on shipboard, not cleared, at the ports named. add similar figures for New York, which are prepared for our special use by Messrs. Lambert Barrows, Produce Exohange Building. We FUTUBES, Vol. LX2I. — Ihe highest, lowest and closing prices of are shown in the following table. New York Futures at 9 S > & OH SHIPBOARD, MOT CLEARED FOR— T Ltatint Aug. 31 at Qreat Other Britain. trance. Foreign New Orleans... 2,055 Galveston None. None. None. None. None. 700 1,000 Charleston..... Mobile Norfolk Other ports.... None. None. None. None. None. None. None. None. Ooattvoiie. 7 203 None. None. None. 1,667 None. None. None. None. None. 800 None. 1,000 None. None. ttook. Total. 1 3,769 30,945 CO 203 None. None. None. 3,431 9,152 2,789 4,529 2,227 CO 1,000 1,500 1,000 O Total 1899. Total 1898... . None. 2,467 1,210 7,472 80,390 8,991 8,748 2,145 17,083 9,017 6,023 3,050 34,242 21,290 340,433 154,836 475 UPLANDS. Sat. Good Ordinary. Mod Tues Wed Low Middling.. 8 9 ie 8»i« 8 9 ie 93, e Middling » 3 16 93, 6 958 9'°ie 9»8 9' 6 ie Good Middling.. Middling Fair... 1038 GULF. Good Ordinary. 8i3i e Low Middling.. 9 7 ie Middling., Middling Fair.. Middling... 9 78 TM„ Frl. 8'3 Jf 97, e 9 78 813,6 97, 6 1088 9 78 103 16 lOBs Sat. ITIou Tnei Wed Th. Frl. 8H 8H 93, 6 938 988 93,6 938 10«f> Middling Strict Middling Good Middling Tinged. > 9% 9 8i3 ie 9'ie I03 ie 1058 103, a STAINED. 813 H 103, e 10»e 9 8 Good 8"w 8 9 ie 8»ie 958 «15 U 1038 Frl. 93 le 93, 6 93,6 9»8 9»8 9% 915 U »13 16 9 6 ie 1038 1038 1038 Mon Toes Wed 97, b 9 78 7 Middling Low 1038 Sat. Tfe, 103, 6 8*4 93,6 938 9=8 103 lP 1088 93, 6 9»8 9»8 8»4 93,6 938 988 31 for 8H 9% 938 for middling upland at New York on eaoh of the past 82 years have been as follows. 1900....0. 96a 1899 1898 1897 1896 1895 1894 1893 63, e 53« 8 V 83 1892. ...0. 7*8 1891 838 1890 1889 11 llifl 1884....0.10i5, 8 1876....o.ll 78 1883 10*8 1875 14&8 1216 16 1874 1882 16 78 1881 .13 1873...... 20*8 1880 12 1872 22 12i« 1879 1938 1871 93 16 1878 19 78 123,8 1870 7°8 1877 11 35 1869 105,e MARKET AND SALES. The total sales of ootton on the spot eaoh day during the week are indicated in the following statement. For the convenience of the reader we also add oolumns which show at a glance how the market for spots and futures olosed on same days. e ie 67e 1888 1887 1886 1885 Spot Market Olobbd. 111,6 9 78 Futures Market Globed. Sales of Spot & Oontbaoi Ex- Oon- Con- port. sump. tract. Id 9 I 0000 00 to to 01 to to . Monday Dull at Dull Quiet Tuesday Wednesday Quiet Thursday Dull . . & & *« . Total. dec. Steady 500 steady steady. 1,600 1,600 600 121 600 235 4,000 4,235 426 6,200 7,126 12'i . Dull 570 "id B'rly steady. 500 to6 if to 00 to to to to to *-© to to 05 01 0000 coto 00 ccoo 00 00 CO 00 cb to coco COCO coto 0000 coto ccoo en If If CO It- GOOD 0000 CO if eo If*.*. If 0000 coco coco If- If CO ©© © GO GO if 6 u>co I 8 I Cn« 8 I 0000 coco 00 00 if 8 1 8 I If 6 If © 8 kOCQ ? I I -3 If If I If Cn a© If 0000 00 if if wco 8 I 8 COCO If 00 *1 1 I OOnc *ieo 1 8 I 8 1 ' id to 88 00 1 I 00 -a enen if» 0000 id if 00 00 00 If If CO co -to 0000 coco ccto 00 00 ' I 8 8 , 0000 coco 00 VI If If 1(1 If Wlf ©If op f fif O 19 18 1 ' eo coop if ©to If If 0000 coco 0000 00 !f I- 8 ©en 00 no COCO I 0000 ©cn 0000 If If to to if f eo m© O 8 18 18 M If If 18 itl COW 1 I I 8 opoo coco If CO MOO 8 ccoo iflf tow 0000 If If Of I 8 18 18 GOOD coco coco 0000 CO GO I 0000 If CO 8 coco coif COCO 0000 opop coco ©i-> opop If if 0000 MtO COCO 01 00 «J 01 CJi coop 00 GO 00 00 If If ciui coco GO CO coop I 00 00 1(1 nl ©CO 1 8 ccoo 8 CO© 1 8 0000 ©« 0000 00 op ©CO if if OCn oco If <l ©en coco I 8 1 8 00 0000 coop opoo 000° 0000 0000 0000 coco CO© if iu id if if if ©to coco coco woo 03 00 00 »3 00 -j tots opoo 66 66 co 00 66 CO Oi<i> if If© 0000 v<o< ccoo cof 19 0003 If If w© If If if If If CO if CO If CO if If If en en CCOO to 8 I 8 I 8 CO op If 6 © © ©If CO I I I 8 I I I to 03 8 I* If © 1 I 1 i eo if 8 I® *» 1 CO I1 I °? to to 8 ©CO if en l ©en I to to 8 if© 1 8 6 to 8 if tn to CO I * 1 I if en ©6 00 . © 1 en~j °? if I 00 8 00 1 si ©5 18 03 00 1 " I 1 8 18 if en 19 1 8 ©8 «J6 ooao 8 • opoo f 18 18 8 i 8 18 ©to 0000 © I ©CO 6-j ©en 0000 00 too 6 66 ©« GO*. ooco 'to cceo en en 0003 o (HO mw en© ©6 coco 00 8 ©en 00 'co I 6 if 66 co if toco 18 18 0000 coco ©CO too 0000 rf- C*j 00 00 00 00 0000 ©en w*. ©if 0000 I GOOD «j«i if co co OCO 1 ©Ci I 6if ©00 8 0000 COCO COr- 18 ooao f to 00 00 if ' tO^J "1 opop If I COCO coco I to If© If 00 8 If If 8 CO 0000 coco GOOD °?l If I •Ft COCO coco enCn « I 8 to 0000 coco ^ito 8 I 00 00 CO 8 If CO ccoo coo c' to to 0000 opoo 6 0000 8 I coco 1 8 0000 tori coto 18 a I If I 8 S © © as made up oy and telegraph, is as follows. Continental stocks, as well as those for Great Britain and the afloat, are this week's returns, and consequently all European figures are brought down to Thursday evening. But to make the total the complete figures for to-night (Aug. 31), we add the item of exports from the United States, including in it the exports of Friday only, The Visible [supply of Cotton to-mgnt, sable 1898. 1897. 1899. 1900. Stock at Liverpool bales. 272,000 890,000 790,000 487,000 5,000 3,000 Stock at London 10,000 9,000 Total Great Britain stock." 282,000 899,000 79r«,000 490,000 Stock at Hamburg 20,000 19,000 18,000 32,000 Stock at Bremen 74,000 58,000 184,000 152,000 Stock at Amsterdam.... ...... 1,000 1,000 3,000 300 200 Stock at Rotterdam 200 200 9,000 2,000 Stook at Antwerp 4,000 3,000 8took at Havre 140,000 82,000 73,000 161,000 6.000 4,000 5,000 Stook at Marseilles 3,000 57,000 53,000 Stock at Barcelona 94,000 65,000 32,000 27,000 Stook at Genoa 14,000 25,000 14,000 19,000 25,000 Stook at Trieste 6,000 Total Continental stocks 240,200 5S4.200 429,300 282,200 Total European stocks 522,200 1,433,200 1,224,300 772,200 20,000 41.000 23,000 37,000 India ootton afloat for Europe 72,000 36,000 Amer ootton afloat for E' rope. 31,000 54,000 T 13,000 14,000 Egypt, Brazll,<fec, aflt.for E pe 11,000 12,000 36,997 Stock in United States ports.. 87,862 374,675 176,126 44,-54 242,785 101,730 49,890 Stock in U. 8. interior towns.. 3.674 7.755 10,204 7,043 United States exports to-day.. 744,959 2,149,864 1^631,911 982,761 Total visible supply Of the above, totals of American and other descriptions are as follows American189,000 816,000 710,000 210,000 465,000 367,000 54,000 72,000 31.000 American afloat for Europe... 87,862 374,675 176,126 United States stook 44 854 242,785 101,730 United States interior stooks. 7.755 10,20 7,043 United States exports to-day.. 569,759 1,902.664 1.434.611 Total American East Indian. Brazil, die— 74,000 80,000 83,000 Liverpool stook 5,000 10,000 9,000 Londonstook 62,300 69,200 Continental stooks 30,200 41,000 23,000 37,000 India afloat for Europe 13,000 11.000 12,000 Egypt, Brazil, Ac, afloat. 175.200 187,200 197,300 Total East India, <ko Liverpool stook Continental stooks Total Total Middling Middling bales. American 569.7r>9 1,962,664 1.434,611 744,959 2,149,at>4 l,631.yil visible supply 376,000 217,000 36,009 86,997 49,890 3.674 769,561 111.00* 3,000 65,200 20,000 14,000 213,200 769.561 932,761 3^ 32 d. 4 3 j'id. 52^ a d. 3" S3 d. Upland, Liverpool.. 5iSi60. 9°80. 7 »8e. Upland, New York.. 6^0. 5'i«d. 5°8d. 6»fld. Egypt Good Brown, Liverpool 6' 6»4d. 77, «d. 6 Vi. Peruv. Rough Good, Liverpool 8 d. 315. od. 39 lft d. 41 sod Broach Fine, Liverpool 5»i 6 d. 3o 53 4^(J. Tiimevelly Good, Liverpool. 1(i d. 3&i b d. 3 ;«i. have The imports into Continental ports the past week been 21,000 bales. The above figures indicate a decrease in the cotton in sight to-night of 1,404,905 bales aa compared with the same date of 1899, a loss of »86,953 bales from the corresponding date of 1898 and a decline of 237,802 bales from 1897. . Saturday ' -o © o© a to to coco 00 19 COCO § 0000 ' . The quotations Aug. to 0000 COCO toot Speculation in cotton for future delivery has been only moderately active and the undertone has been unsettled, owiDg to the conflicting character of the crop advices. The Bnrf an report was less favorable than expected, reporting further deterioration, whereas an improvement was expected as a result of the recent needed rainfall in the cotton belt east of the Mississippi River, particularly as nearly all the private advices have reported the crop outlook east of the Mississippi as more promising. Both public and private advices r ave agreed in reporting the crop prospects in Texas as favor&ble. The movement of new-crop cotton has shown a modei ate increase as compared with last week, but it is still much smaller than last year. Advices from the South, however, report offerings of cotton increasing, and shippers state that a moderate business has been transacted with Manchester, Havre and Bremen for October-November shipment. Business with domestic spinners, however, has been small; as r« fleeting the poor outlook for the cotton goods trade, they have been slow to make purchases on the present basis of values. Statistically the position of the market has continued strong, and in the Liverpool market August contracts went out with something of a squeeze. Reports from India report crop prospects more favorable, with indications pointing to a crop about 2,0ro,000 bales larger than last year. Latest reports from Egypt give promise of an average crop, To-day there was an irregular market. During the early trading prices advanced a few points, reflecting stronger foreign advices; reacted under scattered selling, prompted by generally favorable weather conditions in the cotton belt; but toward the close again rallied on local shorts buying to cover contracts over the holiday. Pinal prices, however, were again easier, and 1 to 2 points lower for the day, exclusive of September, which was 11 points higher, and October 1 point higher. Cotton on the spot has been quiet, closing at 9%c. for middling uplands. On the basis of the rates on and off middling as established by the Revision Committee, the prices for a few of the erades would be as follows: CO tsto «B© CO to 21,137 6,180 3,795 COW id 8 if Total 1900... ' w • September ' . ' THE CHRONICLE 1, 1900.J At the Interior Towns the movement—that 1b the receipts for the week and since September 1, the shipments for the week and the stocks to-night, and the same items for the corresponding period of 1898-99— ia set ont in detail below. 457 — Quotations for Middling Cotton at Other Markets. Below are closing quotations of middling cotton at Southern and other principal cotton markets for each dav of the week. Week ending Aug. 31. 0LO8INQ QUOTATIONS FOB MIDDLING COTTON Satur. Galveston... • 1 10 o . co; M : **: i *>- to! 05 • *>• i >- : : Mk-" gj! -j; 00- ,&.. ' M CO' coo «; *&. to ^OOWW- <i to H« If. -4 -t<OCO> f 5°: CCOS-^' •"• If- o »i M © CO oa <i#*w • <l 10 OB CO -1 *- 95,8 959 9*4 9»« /rrt. 914 9i« 8*« Mobile ... 8avannah... 9 9 9 9 9 Bifl 9 9 9 8 '8 8*8 9 8'8 9 Charleston.. 91,6 8 78 Wilmington. Norfolk 9i« 9*3 958 9V 938 9V 969 9k* 9V* 9% 8% 9»4 9% .... . 9\ 9\ Philadelphia Augusta..... 9 9 Memphis.... 99 St. Louis.... 99,6 9*3 9>* Olnoinnatl.. lf-0303 If. eojo 93s 94* Thurt. 93} Houston. ; 9»« Wednes. 9\ Baltimore I Tuet. New Orleans Boston.. • Hon. ON— 9 78 93ie i« 9 78 9 9*8 91,e 99,fl 9*4 9»* 934 9» 9 78 8 9» M 9»ia 9»ia 9i4 9** 968 9a>9i le 2> w 9H 9ifl 9% 914 913 934 8?8 988 934 9?8 9»8 %> 2?u 914 9i« 98s 9% 9% New cotton. Weather Reports by Telegraph.— Oar telegraphic Louisville... * TO ad- from the South this eveniEg indicate that the weather has been more favorable as a rule during the week. The drought would seem to have been broken quite generally, rain having fallen along the Atlantic and also in districts of the Grulf States, Texas, Arkansas and Tennessee, where needed, and benefiting the plant. Some complaints of damage from the drought come from the Carolinas, but our correspondents at Little Rock and Memphis report the crop greatly improved, and from Selma we are advised that the rain will prove very beneficial. Picking is becoming general vices -I C0» co 00; 00' CO', 05. Mj i->; ; i ^ 1 : co'tooo; eo*'o| ©, OIMtO ^/iji Oj ceo' to AH" »0 ^ low CJi 00 >- 05 I Oil-'OO-qOi- ! cotoco K)CO£t O5to- if-co^] to CO • . •* -* 9 i*S° J" Pi or cc toVi m CO Ol CO 0Cl-'O0l-'tO<IH-tO 05 | © ©"if. ©<ootoo>©rv.«ico©o>uieoocoee©cc©oi£. to MI—CD' !-• M tOtO 05 «1 I-"-' cd ct to to 03 © ™ 1 om WtO©' CO©' WO0©l-'»lr-CO©OJ^lf<)l-'©ie.Cn J- COtOtOM C«. -*| «aif-c»; CO 05 , ^; "co" CO; >-•• Bm'io; i"to co; i»OrOi CD to 05 ODCO! M00CO< oococnO'. ©»-* if> <1^' co to co o» oi ; O3MtSCOC6C0C»a0t0M©CO. Jj CO * in the earlier sections. Galveston, Texas.— have had showers on three days of the week, the precipitation reaching twenty-nine hundredths of an inch. The thermometer has averaged 83, the highest being 89 and the lowest 77. ^oiZene, Texas.— have had showers on three days during the week, the precipitation reaching eighty-one hundredths of an inch. The thermometer,has averaged 82, ranging from 64 to 1,00. Brenham, Texas.— There has been rain on two days during the week, the rainfall reaching twenty seven hundredths of an inch. The thermometer has ranged from 71 to 93, averag6 We COtO «3M©' M«JMKl|^.050 K)IO oto MM CO toco^oo; o>m©coco-jo ©03C"/— OOCOdO M m CO CO M . a We 52 ISi 00 CO « WHO moo ooocrtON)i»>boo©coco! to jf.; © ~J CO CO CO CO «n W en to CO •3 00 CO • cn- MMCn © to en f* to m»o 1 ; "to to en if.; to o-lo'ifk toco; H»tO> cfiie.' t»i 03 if- ; ; ! ' ; tocoaoo; "<S< 05 <IHH CX eoeomco, '•"*4©comjdco toto! 05. ing 82. M©*kCo«q. ©aocnos'-'co p, W CO *. CO if. © MtO~3CO COtOCOMCOCO cnMCO-jMCoeno3en©5.-ocotocooo>coi^.enen t0^]00ib.Ooen©M0SC0 0D>jencnc0MCu<lK)en MMtocnif-OCOi-'MtoOtoco©©*. *»oocn»5© Corpus Christi, Texas.— There has been no rain the past Average thermometer 82, highest 88 and lowest 76. Cuero, Texas.— Ram has fallen on two days of the week, to the extent of eighty-eight hundredths of an inch. The thermometer has averaged 83, the highest being 96 and the 99 Bo week. mS? W © m to «3 en m#» The above totals snow tnat tne interior stocks nave de- lowest 70. creased dnring the week 80 bales, and are to-night 197,931 Dallas, Texas. — We have had rain on one day during the bales less than at same period last year. week, the precipitation reaching forty-four hundredths of an Overland Movement por the Week and Since Sept. 1.— inch. The thermometer has averaged 82, ranging from 65 We give below a statement showing the overland movement to 97. for the week and since Sept. 1, as made np from telegraphic Henrietta, Texas.— We have had dry weather all the week. reports Friday night. The results for the week ending The thermometer has ranged from 65 to 105, averaging 82. Aug. 31 and since Sept. 1 in the last two years are as follows, Huntsville, Texas.— There has been rain on three days of i CO ! 05 to if- ] | 1898-1899. 1899-1900. August 31. Week. Since Sept. Week. 1. Since Sept. 1 Shipped— Via Rock Island 3,865 3,285 436 469 "l32 691 26 178 498 4,637 5,054 569 1,029 ,,. Via Olnoinnatl Deduct shipments— Overland to M. Y., Boston, &c. 211 Leaving total net overland*.. We 816 1,029 3,821 4,025 movement by rail to Canada. The foregoing shows that the week's net overland movement this year has been 8,821 bales, against 4,025 bales for the Inducting week in 1899. In Sight and Spinners' Taktngs. Reoeipts at ports to Aug. 31 Net overland to Aug. 31 Southern consumption to Aug. 31 Total marketed Week. Game into sight during week. Total in sight Aug. 31 Since Sept. Week. 1. 24,261 3,821 28,000 64,831 4,025 56,082 *80 94,856 5,675 56,002 100,531 Interior stocks in excess Since Sept. 1. 26,000 North'n spinners tak'gs to Aug.31 Decrease during week. Jute Butts, Bagging, Etc.— The demand for jute bagging has been only moderate during the past week, but at unprices, viz.: 1%c. for standard grades. 1% lbs. and 8c. for 2 lbs., Car-load lots of standard brands are quoted at 8@8J4c, f.o.b., according to quality. Jute butts continue dull and nominal at l%c. for paper quality and 2%c. for bagging quality, 67 to 94. We 1898-1899. 1899-1900. changed We We 247 * the pa*t week, the rainfall being five inches and forty hundredths Average thermometer 83. highest 98, lowest 67. Longview, Texas.— have had rain on two days of the past week, the precipitation reaching forty-seven hundredths of an inch. The thermometer has averaged 83, the highest being 98 and the lowest 68. Paris, lexas.— It has been dry all the week. The thermometer has averaged 84, ranging from 66 to 101. San Antonio, Texas.— We have had rain on two days cf the week. The rainfall reached eighty-seven hundredths of an inch. The thermometer has ranged from 74 to 96, averaging 85. Temple, Texas.— have had rain on two days during the week, the rainfall being eighty-two hundreds of an inch. Average thermometer 78, highest 96, lowest 59. New Orleans, Louisiana.— have had rain on five days of the week, the precipitation being one inch and thirty-two hundreths. The thermometer has averaged 82. Slireveport, Louisiana,— We have had rain on four days of the week, the rainfall being two inches and thirty-eight hundredths. The thermometer has averaged 81, ranging from new crop. Columbus, Mississippi.— hear a few complaints of shedding. There has been rain on one day during the week, the rainfall reaching twelve hundredths of an inch. The thermometer has ranged from 74 to 98, averaging 86. Leland, Mississippi.— have had rain during the week, the precipitation being thirty-six hundredths of an inch. We Average thermometer 77, highest 89, — We have the week. The weather warm. Little Rock, Arkansas. —Crops are have had Greenville, Mississippi. lowest 65. had good rain during is greatly improved. We showers on five days during the week, the rainfall being two inches and eighty-eight hundredths. The thermometer has ranged from 64 to 91, averaging 77. Helena, Arkansas.—The first bale of new Arkansas cotton was received here on Tuesday the 28th. Rainfall for the week one inch and ninety-nine hundredths on three days. Avf rage thermometer 15-7, highest yi and lowest 65. Memphis, Tennessee.—The condition of cotton is considerably improved. We have had rain on three days of the week, to the extent of twenty eight hundredths here, but heavier in the immediate neighborhood. The thermometer has averaged 77 -8, the highest being 91 and the lowest 65. — THE CHRONICLE. 468 Mobile, Alabama.—The cotton crop is making fair progress. Picking is becoming general. We have had rain on three days during the week, to the extent of sixteen hundredths of an inch. The thermometer has ranged from 70 to 90, averaging hi. Montgomery, Alabama.— Picking is becoming general. We have had rain on five days of the past week, the precipitation being one inch and forty hundredths. Average thermometer 83, highest 92 and lowest 75. Selma, Alabama.—The rain of the past week will prove very beneficial to cotton. There has been rain on four days of the week, the precipitation reaching two inches and twenty five hundredths. The thermometer has averaged 79, lhe highest being 90 and the lowest 67. Savannah, Georgia. - We have had rain on two days during the week, to the extent of fifty hundredths of an inch. The thermometer has ranged from 71 to 95, averaging 82. Augusta, Georgia. We have had rain on four uays of the past week, the precipitation being four inches and S9venteenhundredths. Average thermometer 82, highest 96 and low- — est 69. Charleston, South Carolina.— Rainfall for the week three hundredths of an inch, on two days. The thermometer has averaged 84, the highest being 94 and the lowest 73. Greenwood, South Carolina.— Some claim that the rain came too late to do good to cotton and that the crop will be have bad rain on two ten per cent less than last year. days of the week, the precipitation reachiog seventy-two hundredths of an inch. The thermometer has ranged from 70 to 90, averaging 80. Charlotte, North Carolina. More rain is needed for late have cotton early co' ton can hardly ba benefited now. had rain on one day of the week, the rainfall being ninetyseven hundredths of an inch. The thermometer has averaged 81, the highest being 94 and the lowest 68. Weldon, North Carolina —There has been rain on two days of the week, to the extent of one inch and forty-eight We — We ; hundredths. Cotton is claimed to have been damage! some by the drought. The thermometer has averaged 81, ranging from 68 to 97. Manchester Market.— Oar report received by cable to-night from Manchester states that the market has been dull but steady for yarns and flat for shirtings. The demand Jrom India is improving. We give the prices for to-day below and have those for previous weeks of this and last year for comparison. lbs. Shirt- Oott'n Oop. common Mid. 32s Twist. 32* Oop. ings, Twist. d. 8*s 99 98 T8 8 8*8 98 78 T»8'8 8 98 7s 8 " 3l8ifl 98?8 J'y27 Aug. 3 •• 10 u 17 " 24 d. 5 4 s. 97 d. 8 5 3 ®7 7i« 5 4 97 9 5 3^97 9 5 3 97 8 5 3 97 10 lbs. Shirt- Oott'n ings, JTplds to finest. s. 8H d. d. 8. 5»4 513, 6 -811 16 4 57 lft 513,6-6U 16 4 7 4 51»S3 5 8 4 5 l9 39 5 78 5lli. 5i6 ie-6l3 16 4 96% ®6% 523~ 2 6 tte^e common 4 d. a. 3^3>7 4 97 4^37 d. d. Us 338 338 315 S 2 2 2 41*97 2 5 Vol. LXXI. the past week have been m. Wtdnts. Thurs. Satur. ifon. Tuts. Llverp'l,LateSepe, 25 30 30 Havre. Bremen, Sept 45 45 45950 37*« 37»a-40 37ifl-40 37ifl-40 37^-40 c. 6. Hamburg Amsterdam .c. ..c. Do Do 40 35 45 40 3*45 35 45 30 40945 Reval, v.Br-Hamc. 45 45 40 35 45 e. 30 6 32 d. 45950 45950 45950 45 35 35 40 c. Rotterdam 45 40 35 45 40 40 50 v. Hull...o. v. St. Pet.e. Genoa c. Trieste, asked... e. Antwerp e. 40 45 35 42 Ghent, v.Antw'p.c. 36^ Quotations are cents per 100 lba. * And 5 per cent 40945 40*45 45950 40 45 35 42 40 45 45 45 35 35 42 42 or fractions of a penny per lb. — Liverpool. By oable from Liverpool we have the follows ing statement of the week's sales, stooks, &c, at that port. Aug. Sales of the week bales. exporters took... Of which Of which speculators took. Sales Amerioan.. Actual export Forwarded.... Total stock— Estimated Of which Amerioan— Est'd. Total import of the week Of which Amerioan Amount afloat Of whioh Amerioan 10. Aug. 17,000 1,100 17. Aug. 20,000 1,200 24. 20,000 1,400 Aug. 31. 20,000 12,000 mmmmmt 500 500 300 15,000 3,000 27,000 315,000 221,000 42,000 31,000 59,000 50,000 16,000 4.000 30,000 310,000 218,000 29,000 27,000 49,000 37,000 15,000 8,000 32,000 306,000 217,000 36,000 2 >,000 32,000 25,000 16,000 3,000 46,000 276,000 189,000 14,000 11,000 31,000 21,000 The tone of the Liverpool market for spots and futures each day of the week ending Aug. 31 and the daily dosing have been as follows. prices of spot cotton, Sat'day. Spot. Market, 1 easier. Mid. Upl'ds. 5»ie Spec. & exp. Monday. Tuesday. Wed'day. Thursd'y Friday. Dull and 1:45 P. M.J 97 5^97 2»* 3 1:45 p. k. Mid. TJpldi to finest. d. New York Cotton freights at as follows. Market, 8H I Very Quiet. doing. 5"32 5>a 2,000 Quiet. little Quiet and Irregular. firm. 558 523 32 523 3a 3,000 2,000 4,000 4,000 2,000 300 200 400 400 200 Futures. 1899. 1900. d. . . »''l« 3i 316 3 * 3" Market, 4 P.M. ( 5 { 25,000 hands. Government Weekly Cotton Report.— Mr. James Berry, Chief of the Climate and Crop Division of the U. S. Weather Bureau, made |public on Tuesday the telegraphic reports on the crop in the Southern States for the week ending Aug. 27, @ Steady. Quiet. Steady. Steady at Steady at 2-64 decline. 3-64 ad- Quiet. Feverish. Steady. vance. The prioes of futures at Liverpool for each day are given oelow. Prioes are on the basis of Uplands, Low Middling clause, unless otherwise stated, The prices are given in pence and Q4.ths Thus : 4 63 means 4 63-64d., and 5 01 means 5 l-64d. Cotton Crop Circular. — Oar Annual Cotton Crop Review wages of operatives in that city 10 per cent. The cut, if made, will go into effect September 17, and will effect over @ J ITlon. Sat. Tues. Wed. Tliars. Frl. Aug. 25. Aug. 27. Aug. 28. Aug. 29. Aug. SO. Aug. 31. will be ready in circular form about Thursday, September 6, Parties desiring the circular in quantities, with their business card printed tnereon, should send in their orders as soon as possible, to ensure early delivery. New England Mill Situation.— It is reported from Fall River that at a meeting of the Manufacturers' Association held yesterday an agreement was reached to reduce the Easy at Steady ai Steady at Steady at 2-64 3-64 partially 2-64 3 64 1-64 <o> 2-64 1-64 adv. advance. advance. decline. \2H 1 1:45 4 1:45 4 1:45 4 1:45 4 1:45 4 P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. d. d. 5 23 5 21 5 Aug.-Sept... 5 06 5 04 5 3ept.-0ct.... 4 53 4 52 4 4 44 4 42 4 Oot.-Nov Nov.-Deo... 4 39 4 88 4 Deo.-Jan.... 4 36 4 3*> 4 Jan.-Feb.... 4 34 4 33 4 Feb.-Moh... 4 33 4 32 4 M oh. -April.. 4 32 431 4 4 30 4 30 4 April- May May- lune. 4 30 4 29 4 August . d. d. d. d. d. 20 5 21 5 24 5 2S 04 505 5 08 5 08 52 4 53 4 56 4 56 43 4 43 4 46 4 47 39 4 39 4 42 4 42 36 4 36 4 39 4 39 34 4 34 4 37 4 38 33 4 33 4 36 437 32 4 32 4 35 4 35 31 4 31 4 35 4 35 30 4 31 4 34 4 34 d. d. 5 33 5 36 5 5 14 5 15 5 4 60 4 60 4 4 50 4 50 4 4 45 4 45 42 40 39 38 37 36 4 42 4 4 40 4 4 39 4 4 38 4 4 37 4 4 36 4 4 4 4 4 4 4 4 39 5 14 > 59 4 49 4 44 4 41 4 39 4 37 4 36 4 35 4 34 4 d. d. 3o 5 32 14 5 22 58 163 48 451 43 145 40 142 38 4 40 36 4 38 35 4 37 34 4 36 33 4 35 d. 526 5 00 4 52 4 45 4 42 4 40 4 38 4 37 4 36 4 35 summarizing them as follows: Except in Alabama, where an Improvement in the condition of cotton la reported, the general condition of this crop over the central and eastern portions of the cotton belt has turther deteriorated, rust, shedding and premature opening being generally reported, while th» boll worm has been destructive in toe central and western portions. In Texas cotton has generally Improved in the south portion, but in some localities in the north portion was injured by hot winds. Pick ing is in general progress over the central and southern portions of the belt. — Shipping News. As shown on a previous page, the exports of cotton from the United States the past week have reached 12,104 bales. The shipments In detail, as made up from mall and telegraphio returns, are as follows: N»w York—To Liverpool, per steamers Cevlo, 1,194 Total baits. Phila- delphian, 793 To Hull, per steamer Consuelo. 500. To Havre, per steamer Massapequa. 706 To Bremen, per steamer Frledrich der Gros8e, 1,073 PennsylvaTo Hamburg, per steamers Belgravla, 812 nia, 100 Trojan Prince. 43.. To Genoa, per steamers Hesperla, 1 New Orleans—To Havre—Aug. 31— Steamer Spanish Prince, 1,500 To Rotterdam -Aug. 25— Steamer Istrar, 142 Galvbston—To Liverpool— Aug. 30 -Steamer Navigator, 4,025 To Hamburg— Aug 27 -Steamer Llansani or, 476... ,415 Newport News—To Liverpool—Aug. Sf— Steamer Boston— To Liverpool— Aug. 24— Steamers Kansas, 279; Sylvanla, 10 Baltimore—To Liverpool -Aug. 18— Steamer Oakmore, 30 Total. 1,992 500 706 1,073 912 44 1,500 142 4,026 476 415 289 30 12,104 BREADSTUFFS. Friday, Aug. The demand 31, 1900. for wheat flour has reached only very moderate proportions, as it has come almost exclusively from the local trade, little interest being shown by exporters. A hardening tendency to values for the grain haj given the market a fairly good undertone. Still awaiting farther developments, buyers in the main have shown a disposition to keep their purchases limited to sach supplies as have been needed to meet immediate requirements. City mills have been quiet but steady. Rye flour has been ia more active demand and prices have advanced slightly. Corn meal has had a fair sale at about steady prices. Speculation in wheat for future delivery has been slightly more active, and the tendency of prices h-is continued towards a higher basis. The foreign advices in the main have been of a character favorable to the market, although the advices received from France, consideriDg the poor crop reports, have been somewhat discouraging. Advices received from London say that it is estimated that the English crop will be considerably smaller than last year and that the requirements of foreign wheat will be about 190,000,000 bushThe movement of the winter- wheat crop has coaels. tinued on a fairly liberal scale, although the receipts show some falling off from their recent large totals. The reports from the interior markets, however, indicate September 1, THE CHRONICLE. 1900.] that the demand for wheat is active, both exporters and millers apparently being free buyers. The weather reports from the Northwest have been more encouraging, the needed dry weather for harvesting being reported. Nevertheless it is believed by many of the trade that the recent wet and un settled weather experienced has served to further shorten Business in the spot the yield of toe spring-wheat crop. market has been moderately active, as exporters have been To-day there was an fair buyers here and at oatports. easier market, reflecting weaker foreign advices, and under liquidation bv recent buyers. The spot market was quiet and easier sales reported for export were 160,000 bushels. YORK. DAILT CL08»G PRICKS OF NO. 2 BED WHITER IN Mon. Tueg. Sat. Wed. Thurt. Frt 8214 8Ha P03t 81 78 80^ 80% Cash wheat f. o. b ; NEW Sept. delivery in elev 79^ 793a Deo. delivery In elev 813a 93*z 81H May delivery in elev 79*2 8138 83»s 80=% 823q 840a 79^ 7-»ia 8l 78 84i« 81 H 835a DAILT CLOSING PRICKS OF NO. 2 SPRING IN CHICAGO. Sat. Mon. Tues. Wed. Thurt. Ang. delivery in elev 74i« 73$t 75% 743* 745g 753s 74^ Holiday. 75% 73 7a 745a Fri 74ia 74 76 75 74^8 Indian corn futures have received only a limited amount of speculative attention, but prices have advanced. The principal strengthening factor has been the statistical posiThe actual supplies in sight have been small and the tion. movement of the old crop has continued light, with the Consequently there has country offerings reported small. been a general disinclination to sell the market, particularly of the nea r -by deliveries, and although crop news has been generally favorable, prices have shown a tendency to harden. The spot market has been firmer, with exporters fairly free buyers here and at outports. To-day the market was quiet and sliehtly easier. The spot market was moderately active. The sales for export here and at outports were 600,000 bushels. DAILT CLOSING PRICES OF NO. 2 MIXED CORN IN YORK. Sat. Mon. Tueg. Wed. Thurg. Fri. Cash corn f. o. b 46 46*4 453s 463i 475a 465a Sept. delivery In elev.... Oot. delivery In elev NEW 43% 40% 40% Sept. deliverv In elev Deo. delivery in elev May delivery in elev 443a 40% 41% 4514 413a 416a DAILT CLOSING PRICKS OF NO 2 MIXED CORN Sat. Mon. Tuet. August delivery in elev.. 39% 403a Sept. delivery in elev 38 78 39% Holiday. 37% Oot. delivery In elev 38% 45°a 413a 41% IN 45% 41% 41 44% 459 Spring Wheat.— Heavy rains in the spring-wheat region have retarded threshing and prevented the completion of harvest in North Dakota, in which State, as well as in Minnesota and portions of Nebrasaa, stacked wheat has sustained damage. Rains have also delayed threshing in Montana and Washington. XW~ For other table* usually given here see page 423. THE DRY GOODS TRADE. New York. Friday. P. M., August Domestic Cotton Goods.—The exports of cotton goods from this port for the week ending Aug. 27 were 1,410 packages, valued at $95,331, their destination being to the points specified in the tables below : Nkw York 1900. Week. Since Jan. 86 CHICAGO. 4 Wed. Thurg. Fri China 41% 40 7a 40 395s 38 78 40% 39% 38% [ndia 41 1899. to Aug. 27 41 41 Oats for future delivery at the Western market have been quiet. Early in the week the undertone was steadier, as there was covering of shoit sales on unfavorable weath-r reports. Subsequently, however, conditions were more favorable, and tbis, coupled with a fairly foil crop movement, resul'ed in an easier market. Locilly there has been a limited amount f business transacted in the spot market, but pries have weakened slightly. To-day the market was 31, 1900. The situation in cotton and woolen goods has not improved during the week so far as the business passing at first hands is concerned, and in both divisions manufacturers are facing Trie general run of prices of unsatisfactory conditions. goods i3 below what they could be produced at on current cost of raw material, etc., and while there does not appear to be any near chance of material reduction in coat, there is absence of all indications of a demand sufficient to advance the price of merchandise. Reports of contemplated reductions in wages of mill operatives are current, and it is probable that Fall River at least will make a cut within the next month. The curtailment movement in force there has failed to either improve the price of or to reduce the stock. It is stated that this curtailment may be prolonged beyond the date originally agreed*upon— Sdptember 17. The heavy cotton goods mills, suffering from the absence of China business, are gradually shutting dowu, and there is quiet curtailment of production among the Southern spinning mills. Reports of woolen mills shutting-down or having in contemplation a cessation of work are increasing. With buyers these features are not as yet counting for much, but later on they may become quite an important factor. ....... 100 irabia..... West Indies................. South America.............. Other Countries.... Total 23 441 66 155 535 1,410 TVeefc. Since Jan. 1. 1,545 1,250 140,039 8,899 23,259 2,870 18,488 2,136 8.148 29,044 6,035 48 17 7,319 693 179 594 161 99 215 20,841 2,924 7,183 31,159 5,726 241,703 10,034 294 979 1. 1,443 1,656 1,378 422 3(>3 72 32 488 11,272 The value of the New York exports tor the year to date has been $10,462,489 in 1900, against |10.572,902 in 1899. quiet. The spot market was unchanged. For heavy brown sheetings and drills the market is deDAILT CLOSING PRICKS OF OATS IN YORK. cidedly irregular on goods in stock and the demand slow on Sat. Mon. Tueg. Fri Wed. Thurg. home and export account. Sellers, however, are holding No. 2 mixed in elev.. 26 25% 25% 25% 25% 25% No, 2 white in elev 28 27% 27% 27% 27% 27% aloof on goods to be made, and bids, on current prices for spots, are seldom accepted. Ducks and brown osnaburgs are DAILT CLOSING PRICKS OF NO 2 MIXKD OATS IN CHICAGO. slow and easy to buy. There has been no change in the marSat. Mon. Tues. Fri. Wed. Thurg. August delivery In elev.. 21% 21% 21% ket for low and medium-grade bleached cottons, a quiet de213a 213a Sept. delivery In elev.... 21% 2J3a 21% mand being met at steady prices, but some of the finest 210a Holiday. 21% Oot. dell very in elev 22 22 2i«8 22% Vsl'a grades have been reduced 5 to 10 per cent. Finest Rye has been firmly held, with offerings light, Barley has makes of wide sheetings alsofrom reduced about 1% per cent. A been firm. slight improvement in the demand for denims is noted, but Following are the closing quotations: the demand is still irregular. Ticks, plaids, checks and ( NEW FLOUR. 45 Patent, winter.... $3 85 ®4 00 ®2 65 City mills, patent.. 4 25 ®4 75 ®2 70 Ryeflour,8upernne 3 00 93 60 »2 85 Buckwheat flour • .... Clears 00 -93 50 Corn mealStraights 3 50 94 00 Western, eto 2 45 92 50 Patent, spring 4 00 -94 80 Brandywlne 2 55 (Wheat flour In sacks sells at prices below those tor barrels.) Fine Superfine Extra, No. 2 Extra, No. 1 $2 2 2 2 3 Wheat, per bnsn.— Hard Duluth, No.l N'thern Dul., No.l Red winter, No. 2. N'thern NY. No.l. Oats— Mlx'd,p.bush. White No. 2 mixed No. 2 white 35 55 60 50 fl>2 0. 0. GRAIN. Corn, per bush.— 845a986% 81 7 a»83% 78%»8< 5a 80^982% 927% 934 25%926% 27%928% 25 27 o. 0. Western mixed 42%9463a No. 2 mixed Western yellow 43 9463s 44&s946 1a Western white Rye, per bushwestern State and Jersey Barley— Western. Feeding 4558 947% 53%957% 52% 957% 46 954 40 946 and other coarse colored cottons are still in limited request and easy to buy. Sales of fancy prints are made at irregular prices and general demand continues indifferent. Forsuch staple lines as indigo blues, Turkey reds, mournings, etc., the demand is moderate but steady, and prices are generally maintained. The gingham market has been without special feature, a quiet demand c uning forward at steady prices. There have been no sales of regular print cloths, the price remaining unchanged at 2,%c. In odds business has been light but prices steady. Woolen Goods.— Prices of men's- wear light-weight woolens and worst da are very irregular for both staple lines and fancies. Lints on which prices were guaranteed for the season have not been affected, but in some quarters where guaranties were given on standard goods substitutes in the shape of new and lower-price goods have been brought out. Clay wors ed, 12 ounces, for 82J^c, has this week been put upon the market by the American Woolen Company, whose standard 12 ounce Clay remains unchanged at $l 123^. That company has a>so put out a new 11-ounce serge at 72^c, against 82}£c. for its regular 11-ounce serge. Buyers are not assured by this feature and are as a rule adhering to their previous conservative policy, the orders coming forward being small and by no means numerous. Satinets are s^ady, but cotton-warp cassimeres and cotton worsteds irregular. Overcoatings are easy to buy, but the demand has not improved. Cloafcirigs inactive and irregular in puce. Staple dress goods in moderate request and fairly steady, but the general run of fancies is dull and irregular. For flannels and blankets the demand has been indifferent at stripes A Government Weekly Grain Report.— Mr. James Berry, Chief of the Climate and Crop Division of the U. S. Weather Bureau, made public on Tuesday the telegraphic reports on the grain crops in the various States for the week ending August 27 as follows Weather.- The weekending August 27 is the fourth week of excessive heat in the districts east of the Rock? Mountain?, and -while it was dry over the greater part of the Southern States, portions of New England, and the Ohio Valley, there were in these districts good rains over local areas, and very general and abundant rains over tlie northern pottious of the central valleys, southern half of the upper Lake region, and In the Middle Atlantic States. Corn.— The temperature conditions of the past week, as in the preceding weeks of August, have been highy favorable for the rapid development of corn, a large part of the eariy crop being already made, some having been cut as far north aslowaand Ilinois. The abundant rains which fell in Nebraska, Kansas and Missouri have improved the unchanged prices. con ntion of corn, but much in the two last-mentioned States has been Foreign Dry Goods.—The general market for foreign permanently injured, while the crop in Southern Illinois and WVftern is.entucuy contiiues to suffer from drought. As whole the wees has mtrchaLdise has been quiet at firsc hands, but jobbers report a very iavorable for oorn over the greater part of the principal corn a good general business. Importers are beginning to show estates, more particularly the central and northern districts, but over new lin u s of woolen and worsted dress goods for spring, but D ponion8 of the Guif and South Atlantic States it was unfavorabl demr.nd has not yet developed to any extent. : — — — —— : THE CHRONICLE. 460 [Vol. LX2I. ruary 2 and August 2 at the Bank of Montreal, Brockville, and the principal will mature in twenty yearly instalments of various amounts. The election held to authorize these securities carried by a vote of 481 to 77. The present debenture debt of the town is $559,823 21, including $180,000 for Items. water works. The sinking funds aggregate $107,822 31. United States Census.— Population of Cities.— We give Canton, Ohio. Bonds Defeated.— At the election held below the official populations of those cities whose returns August 25 the propositions to issue $75,000 storm-water-sewer have been tabulated since the reports published last week. bonds and $20,000 garbage-disposal works bonds were both 0ITY STATE AW> BEfiWWENT. News We make comparisons with the Census totals for 1890, giving the difference in numbers as well as percentage. Population. 1899. Population 1900. Allegheny, Pa Baltimore Md Boston, Mass Denver, Colo 50«',957 560,892 133,859 169,164 51,418 Indianapolis, Ind Kansas City Kan Kansas City, Mo Newark, N.J New Orleans, La Paterson.N.J Pittsburg. Pa Rochester, N. Y.... St. Louis, Mo San Francisco, Cal Wilmington, Del.. t U13.973 38.316 132,716 181,833 242,039 78,347 238,617 133,«96 451,770 298,997 £1,431 163 752 24B.070 287,104 105,171 321,616 162,435 575.238 342,782 76,508 Including 1890 population of territory 23 37 24,609 74,518 11V,4 15 27,146 55,191 13,102 31,036 64.240 45.065 26,824 82,999 28,539 123.463 105,287 434,439 448,*77 106,713 129,896 Percentage, Increase. Increase. 1715 25 07 25-44 48-42 34-19 23-39 3533 18-62 3424 34-78 2131 27-33 4 i>?85 as follows this : , Sale.— On August 18 $2,500 5-10-year (optional) bonds were awarded to W. E. Bell, Spokane, at 101-24 and blanks for 6$ bonds. Following are the bids : * For 6% Bonds. For 6% Bonds. E. Bell, Spokane. K.Noble, Portland. Wm. D. Perkins, Seatte *$2.531 00 2,652 50 A — C— W. — 64 If 24-54 Cleveland," must accompany bids. Proposals must be made on blanks furnished by the City Auditor. annexed since that date. Clyde, Ohio.—Bond Ofiering. Proposals will be received Bids Rejected.— We are advised that the Abbeville, S. Council rejected all bids received on August 1 for the $6,000 %% 20-year bonds decribed in the Chronicle July 7 on p. 46. Ada County (Idaho) School District No. Id.— Bond Offering, —Proposals will be received until 5 p. m. September 3, by C. A. Powell, Clerk board of trustees, for §1,500 gold bonds. Securities will mature $500 in three, five and seven years. This district is situated about four miles from the city of Boise. It has no indebtedness at present, and the assessed valuation in 1899 was $55,000. Adams County (Wash.) School District No. 15.— Bond Sate.— On August 18 $6,000 10-20 year (optional) school bonds were awarded to W. E. Bell, Spokane, at par and blanks for 5%% bonds. The only other bid received was that of H. E. Noble, Portland, at 103-49 for 6 per cents. Securities are dated Sept. 1, 1900. Adams County (Wash.) School District No. 23.— Bond JEL Carthage, Ohio.— Bond Sale.—On August 21 the $418 25 5% 1-10-year (serial) sidewalk bonds were awarded to the German National Bank, Cincinnati, at 102. For description of bonds see Chronicle July 28, p. 199. Cleveland, Ohio. Bond Offering. Proposals will be received until 12 M., September 20, by Chas. P. Salen, City Auditor, for $100,000 4$ bridge bonds, maturing April Securities will be coupon bonds, in denomina1, 1920. tion of $1,000, dated April 1, 1900. Interest will be payable semi-annually, both principal and interest b?iog payable at the American Exchange National Bank, New York City. certified check drawn on a national bank for 5% of the amount of bonds bid for, payable to the " City Treasurer of 15,077 Bond Proposals and Negotiations week have been ("Iff Afltpd For H)4,% $2,526 00 Bonds. Roberts Bros., Spokane 2,537 50 And blank bonds. until 12 M., September 8, by Chas. T. Hurd, City Clerk, for $9,387 4% refunding bonds. Securities are issued under authority of Section 2701, Revised Statutes of Ohio. They are in denomination of $500, except one bond, which will be for $387, all dated Sept. 1, 1900. Interest will be payable semiannually at the Chase National Bank, York Citv. Principal will mature part each six months, $500 from March 1, 1914, to Sept. 1, 1922, inclusive, and $387 on March 1, 1923. New must be unconditional and must be accompanied by a certified check for $300. Accrued interest is to be paid by All bids the purchaser. — Decatnr County, Ind.— Bond Sale. An issue of $19,040 Township gravel-road bonds was recently sold to local banks at 100 577. Edmonton, Alberta, N. W. T.—Debenture Offering.—Proposals will be received until 12 m., September 25, by G. J. Salt Creek Kinnaird, Treasurer, for $25,000 5% debentures. Securities are in denomination of $5,000 and will mature thirty years from May 6, 1897. Interest will be payable semi-annually. The coupons for interest up to May 6, 1900, will be detached. El Paso County, Texas.—Bond Sale.—The $63,500 refunding bonds mentioned in the Chronicle August 11 have been taken by the State Permanent School Fund. Fostoria (Ohio) School District.— Bond Sale.—On Aug. 25 & the $15,000 4% school bonds were awarded to W. J. Hayes Sons, Cleveland, at 101 "46— an interest basis of about 3-73£. Following are the bids : W. J. Hayes & Sons, Cleve. .$15,219 00 New 1st Nat. B'k. Columbus. $16,075 00 I6,i>50 00 15,17?. 00 First Nat. Bank, Fo?toria. W R. Todd & Co., Cincin R. Klevbolte&Co.. Cincin... 15,153 00 Seasongood & Mayer, Cin.... 15.04000 . . . . . Bond Sale.— We are advised that an issue of Anson, Me. $60,000 %\i% 1- 10-year (optional) refunding bonds has been awarded to the Skowhegan (Me.) Savings Bank. Securities are dated Oct. 1, 1900. Interest will be payable semi-an- P. 8. & Son, ChagrinFalls.. 15.138 00 Briggs & Co., Cincinnati. 15,035 00 Rogers Lamprecht Bros. Co., Cleve. , 15,037 50 For description of bonds see Chronicle Aug. 11, p. 304. Y.—Bond Sale.—On August 27 $30,000 4% (serial) paving bonds were awarded to W. J. Hayes 1-10-year nually. Arlington Heights, Ohio.— Bond Offering.— Proposals will & Sons, Cleveland, at 103-02. Following are the bids 102-78 103-02 Geo. M. Hahn, New York W. J.Hayes & Sons. Cleve be received until 12 m., September 28, by C. A. Billingsley, Walter 10.4-01 R. B. Smith & Co., New York. ..102-76 Stanton &Co..N. Y 102-25 1-7-year (serial) street-improve103-01 76 for $669 5% Prior Hamlet Clerk, Denison. & Co., Cleve R. Kleybolie&Co..New York.. 1OP00 City National Bank Bros. Co., Cleve. ..10300 ment bonds. Securities are in denomination of $95 68, dated Lamprecht 100-00 Rochester Savings Bank Farson, Leach & Co., New York. 102-78 August 1, 1900. Interest will be payable annually. District No. 1.— Free School Union (N. Greenburg ¥.) Atlantic City, N. J.— Bids Rejected.— Following are the Bond Offering.— Proposals will be received until 8 P. M., bids received August 27 for the $2u0,000 4% gold water bonds: September 11, by Wm. C. Wright, Clerk (P. O. Tarrytown), A. S. Leland & Co.. New York.. 107-689 Seasongood & Mayer,Cincln....l05-02 for $6,000 4% bonds. Securities are dated Oct. 1, 1900. In105-18 Lamprecht Bros. Co.. Cleve 104 97 Jno. i>. Everitt & Co., N. Y will be payable at the Tarrytown National Bank. terest Bids were all rejected. will mature $3,000 Oct. 1, 1924, and $3,000 Oct. 1, Principal Barnes County (P. 0. Valley City), N. Dak.— Bond Offering.—Proposals will be received until October 15 by T. M. 1925 Greenburg (N. Y.) Union Free School District No. 10. Gunderson, County Auditor, for $20,000 5% refunding bonds. Bond Offering.— Proposals will be received until 8 p.m., Securities are in denomination of $500, dated Nov. 17, 1900. September 5, by the Board of Education, Wm. H. Jackman, Interest will be payable annually and the principal will Clerk, for $15,000 4% bonds. Securities are in denomination mature Nov. 17, 1920. annually Bell County, Texas. Bonds Approved:—The Attorney- of $1,000, dated Oct. 1, 1900. Interest will be payable on yearly mature will $1,000 and the principal Dec. 31, on issue of bridge approved an bonds. $14,460 General has check certified inclusive. A 1902 31 from to December 1916, Benton County, Ind. Bond Offering. Proposals will be Board of received until 2 p. m. September 3, by James Darby, County for $750, payable to Frederick Ranscht, President Treasurer, for $32,050 4%% Richland Township gravel-road Education, must accompany proposals. Greenville, Ohio.—Bona Sale.— On August 27 $15,000 4% bonds and $400 4%% bonds to pay the expenses of the election bonds were held in the above named township to authorize the issuance 1- 15-year (serial) Washington Avenue assessment Cincinnati, at 103"006 Kleybolte Rudolph & Co., to awarded of the road bonds. Securities will be divided into forty of a'xiut basis 3 565£. an interest one series each six months May from series and will mature Holland, Mich.— Bond Offering.— Proposals will be reCash or a certified 15, 1901, to Nov. 15, 1920, inclusive. until 7:30 P. M., September 4, by William O. Van Eyck, ceived check for $300 will be required with each bid. for $10,000 4% sewer bonds. Securities are in deClerk, Bond Offering.— Proposals will be received until Septem- City of $1,000. dated Sept. 1. 1900. Interest will be nomination ber 7 by James D. Smitn, County Auditor, for $5,000 6# 5-year annually on February 1 and the principal will mapayable asylum bonds. Interest will be payable annually. A certified check for $150 must accomFeb. 1,1911. ture Big Horn County, Wyo. Bond Sale.— On August 25 the proposal. each pany were awarded to E. H. funding bonds Rollins Sons, & $37,000 Jamestown, N. Dak.— Bonds Voted.— This city recently Denver, at IUO'95 and blank bonds for 5 per cents. Followin favor of issuing $10,000 water- works bonds. voted ing are the bids Jasper County, Mo.— Bonds Registered.—The State Jopiin, E. H. R»llins & Sons, Denver"$37,350 00 V. R. Fulton & Co. Chicago. *$37,037 00 Geo. E.Abbott, Cheyenne... 37.000 00 Auditor has registered an issue of $5,000 5% 1-year current* And blank bonds free of charge to the county. revenue bonds. Securities are in denomination of $500, dated Aug. 20, 1900. Interest will be payable at the Miners For description of bonds see Chronicle Aug. 11, p. 303. Brockville, Ont.— Debenture Offering. Proposals will be Bank of Jopiin. Kiu«s County (Wash.) School District No. 1*— Bidsi7: received until 2:30 p. m., September 7, by W. S. Buell, Chairman Finance Committee, for $100,000 4% lighting- works de- Following are the bids received August 20 for the $JOO,000 bentures. Interest will be payable semi-annually en Feb- 4>£# 20- year bonds Fredonia, N. I I — — , — - : I I — : — : September : THE CHKONICLE. 1, 1900.] For A%% Bonds (Conf.) For i%% linnds. A Co.. Chic. 1200,860 00 W. Harris & Co..CbleaKO.t210,70e 10 Farson. Leach Bank of Commerce B. H. Kollins A SonH. Uo^t.. '212,306 00 Nat ional 00 (I60.UOO) 2HB.020 50,815 00 Trowbridtfo fcNlverCo .Chi. For 4 l-tCJt Bonds. Far-son, Leach & Oo.,'Chlc..*208.000 00 W. IX Shenard A Co.. N. Y.... !J0fl. 61 10 Denlson, Prior A Co., Cleve. 200,000 00 For\\i% tiona». W. J. H-tyes A Sons. Cleve.. !20.->,o.30 00 N. 481 These bonds are alike in description to the two issues sold The reason for the re-sale has not yet been made 18. June known to us. Burllnirtou (Vt.) Trust Co.. 206.026 00 200,400 00 \V. E. Bell, Spokane Lawrence, Mass.— Temporary Loan.— This city recently borrowed $50,000 for a little over two months from Curtis & Sanger, Boston, at 2-96#. Following are the bids received Conditioned, we are advised, on all instead of in $60,000 lots, as advertised. Cu rtis A Sanger, Boston Essex Sav. Bank, Lawrence Bond A Goodwin, Boston M. F. Backus, Seattle 200,100 CO tor 5% Honda. Dexter, HortonACo., Seattle 2no.ooo 00 the bonds being delivered immediately, * As stated last & Co., --.«.«,-W. Harris week, bonds were awarded to N. Chicago, at 10535. Knox County, Ind.— Bond Sale.— An issue of $29,975 17 i%% Busseron Township grave) -road bonds was sold. on Aug. 22 "to Campbell, & Wild Co., Indianapolis, lowing are tbe bids Campbell, Wild A Co.. Ind'lls.$30,640 17 I R. Kleybolte at 102-21. A Co., Fol- Cincin... .$30,025 17 W. J. Hayes A Sons. Cleve... 30,fi25 17 Seasongood A Mayer, Cincin. 29,980 17 W. R. Todd ACcCincinnati. 30,375 17 Kiioxviile, Pa.— Bonds Voted.— The issuance of $45,000 bonds was authorized at a recent election. Labelle School District, Lewis County, Mo.— Bonds Registered.— Building bonds to the amount of $2,000 have been registered by the State Auditor. Securities are in denomination of $100, dated June 1, 1900. Interest will be at the rate of 6#, payable at the Home Savings Bank of Labelle. Principal will mature in ten years. Lakewood, Ohio.— Bond Sale.— On August 17 the $112,500 4% sewer bonds were awarded to Denison, Prior & Co., Cleveland, at 100-74 and accrued interest an interest ba^s of about 3-95. Bonds are divided into three series of $37,500 each, and will mature $500 of each series every six months, beginning Oct. 1, 1905. For further description of bonds see . I — Chronicle July 28, p. 200. Bond Offering.— Proposals will be received until 12 M.. Sept. 17, by H. T. Mechling, City Clerk, for f 3,000 5% High Street assessment bonds, in denomination of $150, and $3,500 5% North High Street assessment bonds, in denomination of $175. Securities are dated June 20, 1900. Interest will be payable semi-annually at the office of the City Treasurer. Principal will mature one bond of each issue every six months from Feb. 1, 1901, to Aug. 1, 1910, inclusive. certified check for $200 must accompany proposals. Authority for the issuance of these bonds will be found in sections 2704 and 2705, Revised Statutes of Ohio. Lancaster, Ohio. A NEW : 3 no% 3'10% - McKibben Street paving bonds, in denominations of $1,000 and $160. Principal will mature $1,1C0 each six months from Jan. 1, 1901. to July 1, 1920, inclusive. 6,700 ZM% West High Street paving bonds, in denominations of $300 and $35. Principal will mature $335 each six months from Jan. 1, 1901, to July 1, laao, inclusive. 2,250 3J^« Buckeye and Cherry Alley paving bonds, in denominations of $250 and »200. Piincipal will mature each six months. $260Jrom Jan. 1.1901, to Jan. 1, 1903, and $20o from July 1, 1903, to July 1, 19u5, inclusive. 34,000 3*4% East Market Street paving bonds, maturing each six months. $2,000 from Jan. 1, 1901. to July 1, 1982, and $1,500 from Jan. 1, 1903, to July 1, 1910, inclusive. Securities are dated July 1, 1900. Interest will be payable January 1 and July 1 at the office of the City Treasurer. Bonds are issued under authority of sections 2,703 to 2707, inclusive, and 2709, Revised Statutes of Ohio. Proposals must be made separately on blanks prepared by the city, and which may be obtained from the City Clerk, and must be accompanied by a certified check on a Lima bank for 5% of the amount of the bonds bid for and made payable to the City Clerk. Accrued interest to be paid by the purchaser. Lorain, Ohio.— Bond Sale.— On August 20 the $9,000 4% sewer bonds were awarded to A. V. Hagemen, Lorain, at par. The only other bid received was one from W. R. Todd & Co., Cincinnati, at par, which bid we are advised was not accompanied by a certified check as required. For description of bonds see Chronicle Aug. 4, p. 252. Luverne, Minn.—Bond Sale.— On August 25 the $10,000 5% 20- year sewer bonds were awarded to the First National Bank of Luverne at 109-62— an interest basis of about 4*28g. For description of bonds see Chronicle Aug. 11, p. 305. Mansfield, Ohio.—Bonds Not Sold.— This city has been offering for sale a large number of street improvement bonds, but we owing to the are advised that, Municipal Bonds BOUGHT AND SOLD. APPRAISEMENTS MADE OR QUOTATIONS FURNISHED FOft THE PURCHASE, SALE OR EXCHANGE OF ABOVE SECURITIES. is 14, 1900. called to the following resolu- tion adopted by the Board of Mayor and Aldermen of Birmingham on August 10th, 1900, viz.: " Be it resolved by the Mayor and Aldermen of Birmingham, That the holders of 'FOURTH SERIES. SANITARY BONDS,' of the City of Birmingham, Ala.. ISSUED ON THE 1ST DAY OF APRIL, 1885, authorized by an Act of the General Assembly of Alabama, entitled 'An Act to authorize the Mayor and Aldermen of Birmingham to negotiate a loan for drainage and for sanitary purposes and to issue bonds for the payment of the same,' approved February 14th, 1885, said bonds being payable twenty years after date of their issuance, with the option to tbe city to pay same after ten years from the date of their issuance, bearing interest at the rate of eight per cent per annum, interest payable semi-annually on the 1st day of April and October in each year at the Hanover National Bank in the City of New York, are hereby notified that said bonds are herewith called for re- demption and will be paid on the 1st day of October, 1900. together with interest to said date, and that interest hereon shall cease from and after said date. " Be it further resolved, That the treasurer of the City of Birmingham is hereby instructed to make publication of the above resolution once a week for four consecutive weeks in some paper published in the City of Birmingham and some financial paper published in the City of New York." In pursuance of the foregoing resolution, notice is hereby given the holders of said bonds that same be paid on presentation and surrender thereof on the first day of October, 1900, at the Hanover National Bank, New York City, and that interest will after said date ceases. EUSTIS, City Treasurer. Bonds called to the following resolu- 31 NASSAU ST. (Bank of Commerce "Be it resolved by the Mayor and Aldermen of Birmingham, That the holders of 'SCHOOL BONDS' of the city of Birmingham, Alabama, ISSUED ON THE FIRST DAY OP JULY, 1885, authorized by an Act of the General Assembly of Alabama, entitled, 'An Act to authorize the Mayor and Aldermen of Birmingham to issue bonds of said city for an amount not exceeding twenty thousand dollars, for the purpose of purchasing school lots in said city and of erection, adding to and improving school buildings, and furnishing the same,' approved February 17, 1885, said bonds being payable in thirty years after date of their issuance, with the option to the city to pay same after fifteen years from the date of their issuance, bearing interest at the rate of seven per cent per annum, interest payable annually on the first day of July in each year at the Hanover National Bank in the City of New York, are hereby notified that said bonds are herewith called for redemption and will be paid on the first day of July, 1901, together] with interest to said date, and that interest thereon shall cease from and after said date. "Be it further resolved, That the Treasurer of the City of Birmingham is hereby instructed to make publication of the above resolution once a week for four consecutive weeks in some paper published in the City of Birmingham and some financial paper published in the City of New FOR 8AYINGS BANKS and TRUST FUNDS 5* BONDS A SPECIALTY. EDW. C. JONES NKW YORK. PHILA., - James - - - - - N. on the first day of July, New York 1901, City, at the Brown & GEORGE DEALERS IN HIGH-GRADE Investment Bonds and Stocks UNLISTED SECURITIES. MUNICIPAL BONDS. Securities Netting from City Treasurer. Z% to 6% ALWAYS ON HAND. Send for our Investment Circular. DUKE M. Municipal Bonds. FARSON, Banker, 1Sa Dearborn Street, CHICAGO. Blodget, Merritt & Co., BANKERS, 16 Congress Street, Boston. 15 Wall EUSTIS, Co., Bankers, 62 Cedar Street, Hanover and that interest and after said date ceases. CO., is hereby given the holders of said bonds that same will be paid on presentation and surrender thereof National Bank, & NASSAU STREET. 112 SO. FOURTH ST. 1 York." In pursuance of the foregoing resolution, notice B ldg.) Investment Securities Board of Mayor and Aldermen of Birmingham on August 10th, 1900, viz.: tion adopted by the f torn GEORGE is CO., BANKERS, of the City of Birmingham, Ala. Your attention Birmingham, Ala., Aug. from and holders of School of Birmingham, Alabama. Your attention To ON APPLICATION. W. HARRIS & N. NOTICE Sanitary fact that the INVESTMENTS. Government and L.ISTS Series 8-26X S'b0% $23,000 8J#{ East CITY OF BIRMINGHAM, ALABAMA To Holders of Fourth Bonds of the City 3-20J5 Lima, Ohio.— Bond Offering.— Proposals will be received 3, by C. E. Lynch, City Clerk, for the following paving bonds CALL, NOTICE . . until 12 M., September LOANS. BOND Blodget, Merritt A Co.. Boston. Kdgerly A Crocker, Boston Geo. Mixter, Boston Z'96% Street. New York. STATE, CITY & RAILROAD BONDS. — : — THE CHRONICLE. 462 bids submitted for the work by the contractors were all in excess ot the tstimates of the City Engineer, the bonds have not been sold and the improvement of the several streets has been indefinitely postponed. Massachusetts.— Bond Sale.— On August 29 the §325,000 3$ gold bonds maturing July 1, 1940, and the $40U,dOO gold bonds maturing April 1, 1930, were awarded to Blake Bros. Co. and Estabrook & Co., Boston, at 101 29— an interest basis of about 2 94#. Following are the bids H & , : Due Due Apr. July 1,1940. Blake'B'Og. & Co. and Estabrook & Co Harvey Fisk a Sons and Vermilye & Co Parkinson 4 Burr and Perry, Coffin & Burr Kidder, eabody « Co., Boston E. O Shepard & Co., New York For Bonds Bonds 1, '30 the Entire Amo'nt. lor*9 100-697 101'097 1' 0-773 100- 9 i 1U014 For description of bonds see Chronicle August 25, p. 410. Mich.— Bonds Defeated.— At a recent election a proposition to issue $5,000 electric- light plant bonds was voted upon and defeated. Medicine-Hat, N. W. T.— Debenture Offering. —Proposals will be received until 12 M., September 15, by W. N. Adsit, Town Clerk, for $40,000 4$ water debentures. Securities are Mayville, in denomination of $500. Interest will be payable yearly at Bank of Canada, Medicine-Hat. Principal will mature $2,000 yearly from 1901 to 1920, inclusive. Millersburg, Ohio.— Bond Sale— On August 27 the $4,000 5# 2-11-year (serial) paving bonds were awarded to The Claude Ashbrook Co., Cincinnati, at 106 375. Following are the bids Claude Ashbrook Co., Cin...*$i,8f6 00 Seasoneood & Mayer, Cincin.*$4,161 00 Feder, Holzman & Co.. Cin *4,248 8f> W. B. Todd & Co Cincinnati. *4,ie0 00 W.J. Haves* Sods. Cleve *4.si07O0 J. &G. Adams. Millersburg.... 4,02100 Lamprecht Bros. Co., Cleve...*4,188 00 J. E. Koch. Millersburg 4,000 00 the Mei chants' I . I I | * And accrued interest. of bonds see Chronicle Aug. 25, p. 410. Mindenniines, Mo. Bond Sale.— P. F. Keleher, St. Louis, has purchased an issue of $2,0i '0 6£ funding bonds. Securities are in denomination of $1,000, dated Aug. 1, 1900, and will mature one bond in five years and one bond in ten years. Mineral Wells, Texas.— Bonds Approved. The AttorneyGeneral has approved for registration $3,000 funding-imSrovement, $9,500 funding water-works and $9,000 echoolouse bond 3. For description — INVESTMENTS. [Vol. Minto Township (P. O. Harriston), Out.—Debenture Sale.— On August 20 tte $4,292 51 4% 1-20 year (serial) debentures were awarded to Geo. A. Stimson & Son at 101*38. Following are the bids Geo. A. Stimson & Son $4,35200 G. W. Wood * Son $4.326 00 Central Loan & Saviugs Co.... 4,341 60 VV. H Brouse 4,31600 H. O'Haraa. Co 4,332 51 Aemilius Jarvis & Co 4,190 00 Morriiton, Ark.— Bond Saie.—Oa August 27 tne $32,000 5% gold water- works bonds were awarded to W. J. McDonald, Oak Park, 111., at par. For description of bonds see : Chronicle Aug. 25. p. 410. Mount Vernon, III.— Bond Sale. It is stated in local papers that an issue of $20,000 4$ refunding bonds has been sold to Campbell, Wild & Co., Indianapolis. Muucy, Pa.—Bond Sale. This borough has sold to local citizens an issue of $7,000 4£ 10-20-year (optional) bonds. Securities are dated Sept. 1, 1900, and the interest will ba payable at the office of the Borough Secretary. Nassau County, N. T. Bond Offering— Proposals will be received until 12m., September 7, by J. Seymour Snedeker, Clerk Board of Supervisors, for $65,0i>0 %%$> gold bonds. Securities are dated Sept. 1, 1900, and will mature Sept. 1, 1930. A certified check, payable to Henry M. W. Eistman, County Treasurer, for 5% of bid, must accompany proposal. Accrued interest must be paid by purchaser. — — New Castle (Pa.) School District.— Bond Offering.—Pro- posals will be received until 7 P. M., September 3, by J. S. Westlake, Secretary, for $18,000 %%% 10 20 year (optional) funding bonds. Securities are in denomination of $1,000, dated Oct. 1, 1900. Interest will be payable semi-annually, free of tax. New Whatcom (Wash.) School District No. 1.—Bond Offering.— Proposals will be received until 2 p. m., Sept. 8, by Mrs. E. V. Lilley, District Clerk, for $43,000 refunding bonds. Ohio University.— Bond Sale.— On August 24 the $10,000 5£ certificates of indebtedness were awarded to W. J. Hayes &Sjes, Cleveland, at 109-27—an interest basis of about 3'40#. Other bids were received from SeasoDgood & Mayer, Cincinnati; Feder, Holzman & Co., Cincinnati; The Bank of Athens, Athens; The New First National Bank, Columbus; The Lamprecht Bros. Co., Cleveland; L. G. Worstell, Athen g; The Security Savings Bank of Athens and Denison, Prior & INVESTMENTS. INVESTMENTS. ADAMS & COMPANY, LONDON AND PARIS EXCHANGE, BANKERS, DEALERS IN INVESTMENT BONDS. Members Bankers and Exchange Agents. HE\D OFFICE: 24 Throgmorion St., London, E. No. 7 Congress and 31 State Streets, INVESTMENT SECURITIES. 238-240 La Salle Street, CHICAGO. C. CORRESPONDENCE RE TERMS New York Office, 52 Broadway. The Lamprecht INVITED. BOSTON. Geo. D. Cook Company, Ld., Business undertaken in all Securities quoted on the London and Continental Exchanges. of Boston StockJExchange. LXXI Bros. Co. a MUNICIPAL AND OTHER HIGH-GRADE E. H. ROLLINS & SONS, DENISON, PRIOR & CO. BANKERS. DEALERS IN Bonds for High Permanent Investment S San Francisco. Grade SEND FOR Bonds. LISTS. MUNICIPAL RAILROAD CORPORATION LIST ON APPLICATION. Charles Whann & DEALERS MUNICIPAL and BROADWAY & NIVER IN BANKERS AND BROKERS, DULUTH. MINN. CHICAGO, - - • LIST ON APPLICATION. Ass'n.) DKALBK8 IN Commercial Paper, Mortgage Loans, Local Stocks and Real Estate. BUNUb 172 Washington Street, YORK. Bank, Chicago. A.R.MACFARLANE&CO. Bldg., Act as agents for non-resident property owners and T. B. POTTER, MUNICIPAL and nrikinc RAILROAD CORPORATION NEW solicited. [Members American Bankers' Bank CHICAGO. Co., CO., MUNICIPAL BONDS, First National SECURITIES. 71 National Bank Building, Chicago. Reference, Firtt National TROWBRIDGE BONDS « vl ^«-"^« Street Railway and bras Companies Co., INVESTMENT BANKERS, Correspondence Choice Iaaues. & Nuveen John 1st St. CO., MUNICIPAL BONDS. CO., 60 Devonshire market bought LAMPRECHT BROTHERS & Exchange Place, Boston. BOSTON, Monadnock Building. 53 Broadway. All securities having a Cleveland and sold. Members New York and Chicago Stock Exchanges. BANKERS CHICAGO, 197 Superior Street. New York City, 121 Euclid Avenue, Cleveland. MASON, LEWIS & • EASTERN BRANCH: BOSTON. 19 Milk Street, Denver. BONDS. Cleveland, Ohio, investors. F. R. FULTON & CO." i Municipal Bonds, ILLS. 171 la salle street, CHICAGO. : September THE CHRONICLE. 1, 1900.] Cleveland. Bonds mature $5,000 on September 1 of each of the years 1906 and 1907. For description of bonds see Chronicle July 14, p. 99. Orange County. Ind.—Bonds Not Sold.— We are advised that an issue of $16,400 4t gravel-road bonds offerer! for eale on August 6 were not sold. The issue will be re offered for sale about September 3 as 4% per cents. Bond Sale.— On August 25 the $47,000 Z%% Otsego, N. refunding bonds were awarded to Isaac W. Sherrill, Pougnkeepsie, at 102*17. Following are the bids Farson, Leach & Co., Chicago 10V37 I. W. Sherrill, Poughkeepsle....l0217 & Co..New York.. 101*06 W.J. Hayes A Son*. Cleve...... J' 2-10 Edw. C. Jones .100-50 Fisher, New York Penhale & R. B. Smith & Co.. New "fork. .101 00 For description of bonds see Chronicle Aug. 25, p. 410. Palo *lto High School District, Santa Clara County, Cal.— Bond Sale-Oa August 20 the $20,000 5<& gold bonds were awarded to F. J. Hambley, Sao Jose, at 107* 15— an inSecurities mature $2,000 in 1904 terest basis of about 3'848£. and $3,000 yearly from 1905 to 1910, inclusive. Perry County, 111.— Bond Election— Bond Offering.— We are advised by T. Gr. Taffee, County Clerk, that the Countv Board contemplates submitting to the voters at the regular November election the proposition to refund its outstanding railroad-aid bonds. The amount to be refunded is about $175,000 and bids for the same will be received until Sept. 10, the city of Portland, payable to the City Auditor, Co company each : . . Port Clinton, Ohio.— Bond Sale.— On August 27 the $2,750 5% 2-11-year (serial) sewer bonds were awarded to the Croghan Bank of Fremont at 10570. Following are the bids : Croghan Bank of Fremont.. New 1st Nat. B'k. Columbus. .$2,907 00 2.811 86 . Lamprecht Bros. INVESTMENTS. MUNICIPAL, RAILROAD and CORPORATION BONDS TO NET FROM 4M TO 6*. H. WHITE & Saline County (Mo.) Salt Western Union Telegranh Co. (Successor of N. O. Canal 50-Year Gold 41* Bonds FOR SALE BY & Farson, Leach ST., NEW Co., YORK. MORRIS, President. EDWARD TOBY, Vice-President. EDGAR NOTT, Cashier. Correspondents — National City Bank, National Bank of Commerce, New York Boatmen's Bank, St. Merchant* ; Louis N. W. National Bank. Chicago National Bank, Boston. ; R. A. Lancaster & Sons, No. 10 WALL, STREET, OFFICERS BiGKLOW, Pres't. Wm. Bigelow, V.-Prest. and MISCELLANEOUS F. J. Klpp, Cashier. T. E. Camp, Ass't Cashier. F. Q. San Francisco. DEALERS IN SECURITIES. 81,000,000 8500,000 Transacts a General Banking and Foreign Exchange Business. Collections receive Special Attention. NEW YORK. INVESTMENT ; FIRST NATIONAL BANK OF MILWAUKEE. CAPITAL SURPLUS AND PROFITS, Ltd., Burr, & Banking Co.) CAPITAL. 81,000.000. ISSUE) J. C. Charing Cross, London. & Pond Township.— Bond Sale.— We are advised that the $25,000 4% refunding bonds, recently Canal Bank, NEW ORLEANS, LA. NASSAU - 102 08 ture one-tenth yearly. BANKS^ 85 10f6O | MISCELLANEOUS. AGENTS FOR THE Perry, Coffin I Saginaw, Mich.— Bond Sale.— On August 18 $6,000 4% sewer and $8,000 4% street- improvement bonds were awarded to W. J. Hayes & Sons, Cleveland, at 102-283 and 102-30, respectively. The sewer bonds are in denomination of $600, dated Ang. 1, 1900, and the street bonds $800 each, dated Sept. 1, 1900. Interest will be payable semi-annually at the office of the City Treasurer. Principal of each issue will ma- BANKERS. ANGLO-AMERICAN BANK, Lamprecfit Bros. Co.. Cleve Jose, Parker & Co., Boston I call after five years. CO. BROADWAY, NEW YORK. — bond, which is for $380. Interest will be at the rate of 4g, and the principal will mature in twenty years, subject to BANKERS, 71 Fisher, Riverside School District, Riverside County, Cal.—Bond OjJeHnq.— Proposals will be received until 10 a. m., Sept. 21, by D. G. Mitchell, County Treasurer, for $40,000 4% gold highschool bonds. Securities are in denomination of $1,000, dated Aug. 8, 1900. Interest will be payable semi annually at the office of the County Treasurer. Principal will mature $4,000 yearly on August 8 from 1911 to 1920, inclusive. Robertson County, Texas.—Bond Sale.— The $6 380 refunding bridge bonds mentioned in the Chronicle July 21 have been taken by the Permanent School Fund of the county. Securities are in denomination of $1,000, exceptone . CORRESPONDENCE SOLICITED. C. I New York... 108-16 107-01 Jersey City Edw. C. Jones & Co., New York.10660 & C. Zabriskie, Co., Cleve. .$2,784 60 {NEW ac- : Penbal* I For description of bonds see Chronicle Aug. 11. p. 306. Portland, Ore.— Bond Offering.— Proposals will be received until 2 p. m., September 15, by the Committee on Ways and Means of the Common Council, care of Thomas C. Devlin, City Auditor, for $25,000 %% 10-year gold improvement bonds. Securities will be issued in denominations of not less than $25 nor more than $500. Interest will be payable semi annually at the office of the City Treasurer. Bidders will be required to submit a flat bid without conditions, except as to the regularity of each issue of bonds, and a certified check for 5£ of the amount of bid, drawn on a bank in must bid. Preble County, Ohio.— Bond Sale.— On August 25 the $17,000 4% bridge bonds were awarded to the Preble County National Bank at 104-559 and the$13 000 4% County- Home- r* pahbonds were sold to the same institution at 103'50. At these prices the bonds net about 3'387<? and 3-415£, respectively. For description of bonds see Chronicle Aug. 18, p. 358. Red Bank, N. J.— Bond Election.— An election will probably be held in this place to vote on the question of issuing $10,000 water bonds. Riverside (P. 0. Biveredge), N. J.— Bond Sale.— On August 23 $5,000 5# 11-year (average) bonds were awarded to Henry Hahn, a local investor, at 110. Following are the bids 110-00 HenrvHahn 106-24 Walter Stanton &Co.,N.Y Y— 1900. 468 The First National Bank OF SAN FRANCISCO, CAL.. Southern Securities a Specialty. UNITED STATES DEPOSITARY. 1900. United States Life 1850. INVESTMENT BONDS. The Capital, 81,500,000 ! Surplus, 81,000,000 Murphy, President. Jas. K. LYNCH, Cashier. James Moppitt, V.-Pres. J. K. Moppitt. Asst.Cash. General Banking Business. Accounts solicited. S. G. Commercial and Travelers' Credits issued, availa- Insurance Co. 6o State Street, IK BOSTON. THE CITY OF NEW YORK. OFFICERS: George H. Burford, MUNICIPAL BONDS. E. C. 121 STANWOOD & Co., BANKERS, Devonshire Street. BOSTON. W. A. C. EWEN, Railroad BondB and Guaranteed Stock* FOR INVESTMENT. Commission Orders Executed. Car and Engine Trusts Negotiated. Tea years' experience in the Financial and Operating Management of Kailroads. WALL STREET, . NEW YORK ble in all parts of the world President. Geo. G. Williams, Vice-Pres. C. P. Fraleigh, 2d Vice-Pres. Kich'd E. Cochran, 3d Vice-Pres. A. Wheelwright, Secretary. J. L. Kenway, Asst. Secretary. THB United uses the leading Whiting Papers. Railroads, Banks, So do the Insurance Companies and Mercantile Houses every- Standen, Actuary. Wm. Arthur C. Perry, Cashier. John P. Munn, Medical Director. where. FINANCE COMMITTEE: gamples. T. Government States If you are not using Whiting » Linen Ledgers in your , office write us for For account books they are They are made in tints Geo. G. Williams, pres. Ohem. Nat. Bank unequaled. John J. Tucker, Builder especially recommended for the eyes by E. H. Perkins, Jr., Pr. imp. a Trad. Nat.Bk eminent oculists. We will send you James K. Plum, Leather a pamphlet on the subject free. Active and successful Agents wishing to represent this Company may comWHITING PAPER COMPANY municate with Richard E.Cochran, Holyoke, Mass., 3d Vice-President, at the Home *nd 150 Duane 8t„ New Yobs Office, 273 Broadway, N. Y. ... — — THE CHRONICLE 464 & Huston Bank of Wood Securities are ia denomination of $1,000, and will mature in twenty years, part being subject to call after five years and part after ten years. are advised that the $3,000 Sharon, Wis —Bond Sale.— 4£ 12-14-year (serial) bonds mentioned in the Chronicle July 14 have all been sold to local investors. are advised by M. J. Shawano. Wis.—Bond Offering.— WaJlrich, Mayor, that this city has voted by a large majority to issue $15,000 electric-light-plant and water works bonds. Interest on these bonds will be at the rate of 3J£#, payable annually at the first National Bank of Shawano. Principal will mature $1,000 yearly from 1906 to 1920, inclusive. An offer of par has been received from the State for these bonds, but the Mayor is open for any bids that may be made for the same. Shenandoah (Iowa) Independent School District. Bond Sale.—This district has sold $3,000 4# 5 10-year (optional) Co., Chicago, at par. These bonds bonds to Mason, Lewis are in addition to the $10,000 sold last month to the same firm. Stockton, Cal.—Bond Offering.— Proposals for the $52,000 4$ 1-40-year bonds (fully described in the Chronicle August 18. p. 359.) will be received until 5 p. m September 11, by I H. Robinson, City Clerk. certified check for $500, payable to the Mayor, must accompany proposals. Stoughton, Wis.— Bids Rejected— Bond Sale. All bids received on August 20 for $23,000 city hall bonds were rejected. The City Treasurer was afterwards awarded $5,000 as an investment for the sinking fund and the remaining $18,000 will be taken by the State. Interest will be at the rate of 3^ per cent. Titusville, Pa.—Bonds Voted.— An issue of $6,000 Spring Street paving bon^s was voted at the election held August 7, 1900. These bonds, we are advised, will not be sold until some time next spring. Taldosta, Ga .— Bond Sale— On August 15 the $25,000 5% 30 year gold sewer bonds were awarded to Trowbridge Niver Co., Chicago, at 108*16 —an interest basis of about \%%. West Superior, Wis.— Temporary Loan. The city has borrowed from the American Exchange Bank the sum of $14,000 at $% interest. registered, have been sold to the White Plains, N. Y.— Bond Offering.— Proposals will be received until 8 P. m., September 6. by the board of tiustees, Samuel C. Miller, President, for $50,000 ?,%% road bonds. Securities are in denomination of $1,000, dated Oct. 1, 1900. Interest will be payable semi-annually, and the principal will mature $5,000 yearly on October 1 from 1910 to 1919, inclusive. certified check for 10$ of the par value of the bonds, payable to the Village Treasurer, must accompany proposals. Authority for the issuance of these bonds will be found in Chapter 353, Laws of 1899, as amended by Chap- Marshall, Mo., at 102. We A We Laws ter 497. of 1900. Bids Rejected.— At a meeting of the Village Trustees held August 21a resolution was adopted rejecting all bids received on August 10 for the $40,000 Z%% gold sewer bonds. fall list of the bids was given, in the Whitesboro, N. Y. A Chronicle August 18, p. 359. Woodbury, N. Y.— Bond Sale.— Oa August 21 $5,000 >K-y ear (average) bonds were awarded to W. J. Hayes W.J. Haves & Sons. Cleve Geo. M. Halm. New York Walter Stanton* Co.. N. r A — & MISCELLANEOUS. HENRY CLEWS&CO. MEMBERS Dealers in Bonds of Railroad, Gas and Other Public Coporations. on and N. Y. Street, of Approved Securities Negotiated. Offices: issues 202 487 56 87 16 FIF I H AVE., 20 Nassau New Street, York. And Guaranteed Stocks Descriptive Circular sent upon application. INVESTMENT BONDS A SPECIAL TY. BASS, STOCKS, BONDS, AND MISCELLANEOUS SECURITIES 16 BROAD STREET, NEW YORK. P. O. W. H. ROLSTON, W. ALEX. BASS, Box ALLEN, 82 20 Financial The EDWIN JR., HOOLEY. S. »2. 1. The books have been closed in a proper manner. 2. Any PINE STREET, NEW YORK, Price, 135. Single issues WILLIAM B DANA CO 70^ Pine Street, . New York. irregularities The simplest modes of book-keeping hare been suggested. 3. 4. If Floyd, carelessness or Lave been discovered. ST., N. Y. Augustus a Guarantee that the books do not present a true commercial situation, the fact will have been pointed out. DEALER IN LOCAL INVESTMENT SECURITIES CITY RR. AND GAS CO. BONDS. MUNICIPAL BONDS, CLINTON GILBERT, New BANK AND TRUST York. CO. The Mutual . . given to Municipal and Corporation To net the Investor 3 to all ac- Assets (Market Values) Jan. 1. 1900. .$70,46fl,400 46 Liabilities (N. J. and N. Y. Standard). 64.840,7"7 24 5,625,693 28 Surplus 5K Bonds Per Cent. Lists sent on application. N. J. President . is counting. Benefit NEWARK, CO.. agerial oversight STOCKS. INVESTMENT SECURITIES. LIFE INSURANCE AM2I DODD, Inspections of books are made without charge, for the purpose of quoting prices. Terms are reasonable because of the despatch with which audits are made and reports are furnished. Man- W. J. HAYES & SONS, 111 Congress Street, Boston. 313 Sui>er««r St., Cleveland, •• WE DEAL THE NEW POLICY CONTRACTS Rvieew 1880-1900. 21 annual issues. since 1886. BROAD . . Members N. T Stock Ex. Audit bv this Company is WOOD & McGR AW, CORT. . 296fl. An . 2 Wall Street, ROLSTON & New York Life Bldg., Queen Building, & William Sts. La Salle & Monroe Sts. Chicago. New York City. Cedar SPECIALISTS IN Tel. 5181 High-Grade Investment Bonds OF NEW YORK, cor. 25th St. BROADWAY, Silk Ex'ge Bldg. WORTH ST. & 39 Thomas St. HUDSON ST Mercantile Ex. COURT ST., Brooklyn. ALL STOCKS and BONDS SIMON BORG & CO., NOT DEALT IN ON THE BANKERS, N. Y. STOCK EXCHANGE. No. The Audit Company STOCK EXCHANGE. Orders executed for Investment or on margin. Interest allowed on deposits, subject to check at sight. Railroads reorganized and Trade Combinations effected. Act as Financial Agents for Corporations and Investors. U. S. Bonds, all Issues, bought and sold. 22 W. 33d ST., Op. Waldorf -Astoria. Branch Loans BANKERS, 17 Broad 11. 13, 15 and NEW YORK 10000 Yonkers (N. Y.) School District.— Bond Oferina.—Proposals will be received until 8 P. M., Sept 5, bv J. H. Claxton, Secretary Board of Education, for $56,000 3%% bonds. Securities are in denomination of $5,000 (<-xcept one bond which will be for $1,000), dated August 1, 1900. Interest will be payable April 1 and October 1. Principal will mature on April 1 as follows: $5,000 in 19'4 $10,000 in the certified years from 1915 to 1919 and $1,000 in 1920. check for 5% of the amount of bonds bid for must accompany proposals. Yoangstown Township, Ohio.— Bond Sale. On Aug. 24 $10,000 5% 1-10-year (serial) park bonds were awarded to Co., Cincinnati, at 105-65— an interest Feder, Holzman basis of about 3*S5#. Securities are dated Sept. 1, 1900, and the interest will be payable semi-annually; miscellaneous. ST., lOO'OO suance. — WALL Cornwal' 8avings Bank Columbus Trust Co. (3 96s) 102-29 102'25 — & 41 : Yakima County (Wash.) School District No. IQ.— Temporary Injunction. We are advised that the $5,000 bonds offered for sale on August 25 were not sold, owing to a temporary injunction having been granted to restrain their is- — BANKERS, & Following are the bids iniJ-30 R. B. Smith & Co.. New Tork...ir()-60 Sons, Cleveland, at 102"30. , WILSON & STEPHENS, H ,f & A [Vol. LXEI. IN OF THE SOUTHERN AND WESTERN Special and Peculiar Advantages ROSENBERGER & LIYERMORE. BENEFIT MUTUAL Contain which are not combined POLICIES OF In the ANV OTHER COMPANY. SECURITIES. (Specialists In 31 Southern and \Ve>tern Bonds.) NASSAU STKEET, - NEWIYOKK.