Full text of Commercial and Financial Chronicle : September 10, 1898, Vol. 67, No. 1733

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Quotation Supplement (miu* Street RailwaySupplement
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lavestom Supplement (Q terly) State and City Supplement <&maa$
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Intared aooording to

Aot

VOL. 67.

of Congress, in tbe year 1898, b y tbe

W i l l i a m B. D a n a C o m p a r t ,

SATURDAY, SEPTEMBER 10, 1898

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W IL L I A T I B . D A N A C O T IP A N Y , P u b liM U er s,
P in e S tr e e t, C o r n e r o f P e a r l S tr e e t,
O f f ic e B o x 958
NEW YORK.

CLEARING ROUSE RETURNS.

The following table, made up by telegraph, etc., indicates
that the total bank olearings of all the clearing houses of
the United States for the week ending to-day, September 10,
have been $1,068,000,885, against $1,315,717,936 last week and
$1,138,014,761 the corresponding week of last year.
CLKARING8.

Returns by Telegraph.
N e w Y o rk .......................................
P h ila d e lp h ia ..................................
N e w O rle a n s .................................
S e v e n c itie s , 5 d a y s ...........
O th e r c itie s , 5 d a y s ....................
T o ta l aU c itie s, 5 d a y s —
A ll o itle 9 ,1 d a y ..........................
T o ta l a ll o itle s fo r w e e k ..

In the offloe of the Librarian of Congress )

Week Ending September 10.
1838.
$ 5 00,823,550
09,84 >,523
41,138,115
10,530,100
73,590.420
22,199.404
3,839,190
8727,907,371
185,014,882
$302,982,258
205,018,012
$1,008,000,805

1897.
$504,299,731
76,340,593
41,28 8,3 24
13,103,005
7 2 ,87 9,987
22.94 7,133
4,35 8 ,4 9 7
$7 97,283.300
130.017.940
$927,301,240
210,713,515
$ 1 .13>$,014.701

Per Cent.
—10'2
—7 3
-7 1
-2 0 0
+ro

-3 * 3
-1 1 -9

-8 7
+3'8

New York........
Philadelphia...
Pittsburg........
Baltimore........
Buffalo.............
Washington...,
Rochester........,
Syracuse......... .
Scranton.........
Wilmington......
Binghamton. ...
Total Middle.,
Boston................
Prorldence...........
Hartford... ....... .
New Haven.........
Springfield..........
Worcester........... .
Portland.............
Fall River..........
Lowell.............
New Bedford......
Total New Hng..
C h ica g o ............. .

C in cin nati....... .
D e tro it...................
C le vela n d ............. .

Milwaukee......

Colu m bu s..............
(n d la n a p o llf........
P e o ria ....................
T o le d o ....................
Grand R a p id s......
D a yto n ...................
L e x in g to n .............
K alam azoo...........
A k ro n ....................
Bay C ity ................
R o c k fo rd ...............
Springfield, O hio...
Canton...................
Youngstow n..........
E va n sville*............
T o t . M id. W e s t’ r.

San Francisco...
3alt Lake City...
Portland..........
Los Angeles.....
Helena.............
Tacoma............
Seattle...........
Spokane...........
Fargo...............
Sioux Falls......
Total Pacific..
Kansas City........ .
Minneapolis........
Omaha...... .........
8t. P a u l...,..........
D e n v e r .................
D a ven port............
St. Joseph .......... .
Des M o in e s...........
Sioux C it y ............
L in c o ln .................
W ich ita ................

-8 9
-2* 7
-0 2 T o p e k a ......................

The full details of olearings for the week covered by the
above statement will be given next Saturday. We cannot,
of oourse, furnish them to-day, bank olearings 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 agures for the pre­
vious week, covering the returns for the period ending with
Saturday noon, September 3, and the results for the corres­
ponding week in 1897,1896 and 1895 are also given. In com­
parison with the preceding week, there is an increase in the
aggregate exchanges of one hundred and one million dollars*
but at New York alone the gain is seventy-six millions. Con­
trasted with the week of 1897 the total for the whole coun.
try shows an addition of 8*1 per cent. Compared with the
week of 1896 the current returns record a gain of 54*8 per
cent, and the excess over 1895 is 38*4 per cent. Outside of
New York the loss from 1897 is 1*3 per cent. The excess over
1896 reaches 28 3 per cent, and making comparison with 1895
the gain is seen to be 17*4 per cent.

F r e m o n t.............
H a s tin g s ...............

Tot.

other West

St. L ouis..................
New O rleans..........
Louisville...............
G alveston...........
H ouston.............
Savannah.............
R ichm ond..............
M emphis.................
A tlan ta....................
N ashville............
N orfolk...................
F ort W orth............
A ugusta..................
Birm ingham ..........
•Knoxville...............
L ittle Rock............
Jacksonville..........
C hattanooga..........
M acon................. ..
T otal Southorn.
Total all...........
Outside N. York
Montreal............
Toronto..............
Halifax...............
Winnipeg..
Hamilton..... ...
St.John..............
Total Canada

NO. 1733.

Wsek ending September 3.
1898,
1897.
$
f
838.054 780 733.6'*3,064
69.750.009 09,698.270
18.856.76
10.OS4.51*
15,29* 78w 17,317 950
3,5* 7.820
4,003,150
1,693 73l
1.440.4 tO
1,707,3*8
1,601,94*
755,< 63
984,704
80 ,29'
8(6,561
602.* 65
006,329
273 800
951,193 049 840,302,94 »
95.197,28c 93.143,043
3,866.100
4,432,70
2 81o6 2,178,013
,2 .
1,71 13 6 1491.811 2*8.905
1,3; 9.331
1.496/8
1,340,74
1,374.855
1,593,427
595.271
i?51 9 ir
693.90
014,.-0
469,721
323.161
108,854,202 107,339,649
97 057 028 104.310.410
11121 700 11 510,750
.0 <
6107 21i 6 10? 2
8410 18'
0.022 5 tb
4 . 7 8 4,845,636
3, x00,<j 00
3.80 :.o 0
2.4,0, 5a
3.114 V 2
1,830,850
1.6*8 972
1 885.270
2 80
,2 . .0
093 3 J'
776 62
*
612,64 1
t 49, • 96
32. .958
600 803
2i9,»‘8
224 89
195,700
211 9 0
182 2
18
182 02
148.309
138.178
195.53*
1 J0,8 *3
176.170
17U.U00
217.302
223,855
637.308
139,611,(41 145,040.041
17,603.864 18.09 b,819
1.6 8"27 1,528.32
8
1,810 8i 2 1.849,14 2
1,1 *-3 311
1.2ftf,5l
590.514
42'»,00
68i.83v
707,4-'.1
i 2)3 7»7
780 801
085.2 10
584 04*i
122.832
71,585
83.035
39, <5
25.2.3 831 2o.Llo.Ol4
10.335,494 11.718.70*
7.757.204
8,754,231
6191.42 J 4 8 3.932
3.7 "9 19
8 *0 1 2 3 ‘
2.679,27*
2260,892
83 5 7
645,097
3,000 0.0
1.051 99
936,000
750 00
0
837,1 0
8
0/6 25317,475
332,135
352, >f»0
28b, 18 >
050,8 )3
5 » 99i
88.375
lO ^ lifi
74.227
112, ’63
86,060,42b
37,786,729
24.031.8 ’4 2S.203.79q
5 207 967
4.8* 0,30'
0.018 445
6 sOs.iGti
2 407.1**0
3.011,8* 0
3.511.151
2.0U 6*3
l,7ac,9 0
1.4 95 = 3
>
2 151.x 4
2.9K.087
1.378 851
1,209.170
945 723
9 h7 78 *
994,260
92-3*8
7< 3 9-5
7o9 “23
025 200
908 :-60
453v 48
534, 9c*
4 4 Cf-G
317 930
675,721
727 43 ■
210 >*29
2"7.»86
14*> 0o8
167 27 l
218 749
800,0 0
4
45,000
820.U00
53,019.03) 50.674,794
1 S15.717.93fl 1.217,518,382
477.503,150 ~483,91&.298
11 370 001 11.045,823
7 0*8,93 ’ 1 855 120
« 0 111,641
1,217 4 0
1,428 63*
1.305 998
0 61
11 0
649.904
608.080
689 • 17
2 0.OOo
22.741.070 2 .2 1

* Not included in totals.

1896.

,* ,

543 765 350

59,19 ,002

+13 4 559,105,830
+ 2 ’£
72.17 V 0.
—13 0
3,851.100
+3 7
1.851,533
+ 1 »«
1.255, 61
3.17i,978
1.192 718
1,300.1 7
552 495
512,004
381.890
+1 4 84,249,4 21
76,231.901
9,043.260
4 83 m,«93
5.414,173
4.303,087
3.40 ,0i.0
l,n9i.7M
1,464 OOi
1,418.599
€94.i 92
640 VU3
282 764
224 1 <
2
24 ,000
2l2 068
131.5-5
140 048
162 907

1 ‘.132,512
12 631.043
3,756 371
1,607,322
1,4 77.849
979,293
640,181
63.* 395
298 800635,0^7,28+
77 633 766
3,7f?7 70C ■*
2 o^s.eoi
1.39 .635
1.1 H .782
1,234,932
l,Si-‘2.092J
68-’ 829'
628 576
___ 380,991
89.0a 7,84 8
85,212 361
lo 0*3 200
5 901 999
6.117.130
4 886 .69
3.452 400
1 358.733
1,588 388
1,294 166
760 521)
8 3,918
204 631
260 147
879 162
136,124
203,014
119,432 :

—3 7 111,779 564 122,869.015
-7 3

+1*>

-2 7 v

-5 8
-4-20 2
+ 4 0 *6

4-1/•»
+71 V

4 -5 * 2

+ 110

2

-3 *

17,/65.0.6
9 384 25
7 11- .016
2.930 917
3,400 9-6
1,948 176
7 i8.58l
1,0*4,612
€89 048
2 .3 599
227,7.i 7
260,. 2*
3-.9,738
60,494
79,021
28,604,133

l<,o10 8
1,6'

32,628.844:

48.427,976 60,139,978
849.921 939 950 604,463
872.386,106 *06 &49.120
9 4"0.6’S
10.316/99
5,4 57 764
6 223:070
117^,601
l t2-f\«31
798 483
940 *25
£96.316
623 8
JO
550 7:1
1 8,92 1002 V7 507 8.Cs,

502

THE CHRONICLE.

COTTON CROP REPORT.
Our annual Cotton Crop Report is given to-day in a
special Supplement. Wo put it in that form last
September for the first time; we do the same again
this year, because when published separate the report
has been found to be in a more convenient shape for
thoso of our readers who need it most for immedi­
ate use, while all who do not bind their volumes find
that in that form it is more easily kept and handled
for reference.
Oar investigations for the season ending Sept. 1
1898 have been even more exhaustive than usual. The
spinning industry of the whole country has been
worked over to gather the facts relating to cotton
consumption and manufacture we give. Our crop,
statement too, which has always been known to be
perfect in system and results, we have continued
along the same lines originated and adopted by us
nearly thirty-five years ago. On the present occasion
the purpose has been to show progress in every detail
of the work, and we believe we have produced a record
more than ever entitled to the position it. has always
held the world over as authority in the matters to
which it relates.J
THE FINANCIAL SITUA TION.
Concern is beginning to be felt with reference to
the money market. No doubt rates for a time will
rule higher than they have been ruling for many
months. No legitimate interest can suffer from any
moderate rise. Of course people who have been able to
borrow at low rates and narrow margin on stocks of
doubtful value while the money tide was on the flood
will find it more difficult to float [their inflated hub­
bies when the tide is recoding. It is, though, evi­
dence of a healthy state of affairs that money should
be iu better demand when industrial movements
quicken. But extremely lowr and extremely high rates
are both priina facie evidence of a lack of confidence,
and while we have been going through our long period
of distrust, the way ha3 been marked by a series of
such extremes, alternating from one to the other.
No such monetary crisis as referred to above or any­
thing of that character is in pro3peot, or 1b a present
possibility; furthermore, when writers compare our
surplus bank reserves this year with those at the same
date of 1898 to 1896, or even with 1897, and draw
conclusions from the happenings in those years, they
are projecting into the future shadows that coming
events do not cast. At the same time, without
doubt business i3 developing and a good healthy
growth is in prospect; which means not sim
ply that we are marketing our crops and that
money i3 needed for the purpose, but that
capital is more venturesome and that enterprise
is becoming more free. There is a common-place
saying that yon cannot eat your pudding and keep it
too; much the same sort of reasoning applies iu the
present case, for capital cannot go into various kinds
of enterprises and at the same time bo held to put out
on call loans at one and a-half per cent. These are,
of course, general conclusions, but they fix moderate
limits beyond which money ought not to fluctuate on
the present occasion because our resources are large
and much dearer money is certain to make sufficient
supplies available in the market.
There are, though, special shiftings of capital in
large amounts in progress and anticipated which are

IVol. Lxvri.

always when occurring liable to be a disturbing inci­
dent and which are now the chief influence causing
whatever uncertainty is felt. To-day again we have
to report a large loss in reserve by the banks, due to
the takiugs the current week from them by the Gov­
ernment of gold and currency in payment of the 3
per cent bond purchases. Too much stress on this
occasion may bo laid upon this feature; the whole
discussion is made to turn on the surplus bank
reserves, while very little and frequently no ac­
count is taken of the recuperating resources back of
those reserves. How imperfectly, for illustration, the
surroundings this year are disclosed by the statement
that the surplus reserves of our Clearing House in stit­
utions last Saturday, Sept. 3d, were reduced $6,352,250
to $14,991,050, against a surplus at the same date in
1896 of $8,228,500. In the first place it is a fact of
importance that while the surplus reserves last Satur­
day were less than 15 million dollars, the total reserves
were $203,088,500, whereas in 1896 the total reserves
were only $119,996,500; again, the Treasury’s actual
cash balance September 1 1898 was $294,487,085,
against a cash balance of $243,346,401 on same date of
1896 and $107,283,911 September 1 1893 ; finally, the
net favorable foreign merchandise balance for the
seven months ending with August 1 1898 was
$317,132,86 L; at the same day in 1896 it was only
$90,565,677, whereas in 1893 the balance was unfavor­
able, the total excess of imports beiug $62,872,231.
These figures show great strength at the present
moment; they should lead every one to minimize the
comparatively unimportant fact that the Treasury has
for a brief period deprived our banks of a considerable
portion of their surplus reserves. Yery high rates for
money are out of the question in the face of such
conditions.
The interests of peace have been greatly served by
the agreement reported this week to have been entered
into between England and Germany. Of course we
cannot know until the official document is made
public the'fulljeffect of the arrangement. But what
has been published with reference to its terms would
indicate that it is of wide scope, providing for and
closing the more irritating questions which heretofore
have, from time to time, been a source of anxiety lest
they might lead to a rupture. This construction as to the
radical character of the altered political situation finds
confirmation in the hearty congratulations the Em­
peror of Germany sent to General Kitchener on his
great victory achieved in the Soudan, resulting in the
fall of Khartoum, in which telegram the Emperor
also incidentally commended the wisdom of Great
Britain’s policy in Egypt. One cannot fail to recog­
nize what strong evidence that message is of a mate­
rial change in sentiment towards England on the part
of the Emperor William wdien one remembers and
compares it with that other message of congratula­
tions sent to President Kruger on the successful repulse
of the Jameson raid.
Lord Salisbury's peace policy is finding strong
recommendation just now in the successes it is meet­
ing with. The German arrangement is not the only
evidence of its -working. It has been stated that the
proposal of a peace Congress by the Emperor Nicholas
originated in a suggestion from Queen Victoria. How­
ever that may be, if the current reports are to be relied
upon, decided progress has been made towards a com­
plete understanding between Russia and Great Britain,
not only with reference to Manchuria hut with refer

September 10, 1898.)

T H E C H R O N IC LE .

ence to other interests and matters at issue between
the two countries. If this turns out true, and the
German contract has also been correctly represented,
may not the Czar’s peace congress, when it meets,
prove to be far more fruitful in results than has been
anticipated ? With every possible casus belli between
Great Britain and Germany and Russia settled, what
nation will there be to take a position unfavorable to
the Czar’s proposal, except it may be France ?
An important development of the week has been
the announcement of the decision of the Inter-State
Commerce Commission, ruling against the equity of
the differentials on passenger business claimed by the
Canadian Pacific, and the prompt declaration of the
managers of the Canadian Pacific that they would abide
by the decision of the Commission. In thus accediug
to the request of the Inter-State Board the Canadian
Pacific officials have done a graceful as well as a politic
act. It is understood that the effect will be to end the
existing war in passenger rates to the Pacific Coast
which has for so many months been a Berious
disturbing element in the situation, and which
while it lasted always involved the possibility
of a widening of the area of conflict. Moreover the
Canadian Pacific acquiesces in such a broad, unquali­
fied way that its present act may well be taken as an
indication of what its course will be in the future.
For Vice-President Bhaughnessy is quoted in the
newspapers as saying that “in this case, as in all pre­
vious cases involving United States traffic, the com­
pany accepts without question, and will be governed
by the decision of the Commission, taking care of
course that its rates will be on the basis of those which
prevail on any other route,” etc.
Mr. Shaughnessy is prompted to speak of “ the
marked spirit of fairness” with which the Commission
have evidently sought to handle the subject, and it must
be admitted that perusal of the report distinctly con­
veys the impression that the Board have striven to be
judicial and impartial. After stating that the Cana­
dian Pacific reduced the first-class fare last spring
from Boston to Seattle first from $71 75 to §40 and
then on March 10 to $35, and that the trouble arose
from the refusal of the American lines to allow the
Canadian line a differential of $7 50 on first-class and
$5 on second-class business, the Commission declare
that they are unable to find in the testimony “ any­
thing outrageous in the conduct of the Canadian Pa­
cific in this matter.” They say that there may be
reasons why the differential should never have been
granted (the road had been allowed a differential for
about ten years), but that in insisting upon it the
company was simply claiming what numerous
American lines had claimed, and what many
were enjoying. Neither could ’the Commission
see anything wrong in the proposition of the Canadian
Pacific offering to submit the question to arbitration.
They take pains to state that they think the claim
made on behalf of the American roads that no Cana­
dian road is entitled to a differential on any American
business is “ probably untenable.” They further
point out that the broad question whether Canadian
roads should be allowed to participate at all in the
carrying trade of the United States does not come
within their province. That is a subject for the con­
sideration of Congress and the treaty-making power.
The question in this instance wa3 one simply of fact,
and judged by that standard they do not think
the Canadian Pacific is entitled to a differential.

503

Answering the argument that longer time is re­
quired over its route, they aver they can see little
force in the suggestion. Of all the competing lines
the tracks of the Canadian Pacific alone extend from
ocean to ocean. Its road-bed and equipment are equal
to any. It has railroad connections with Seattle,
Tacoma and Portland. It run3 through cars from
Boston to Montreal. It has steamship connection to
Asia by its own steamers—and much more to the same
effect. It is also to be noted that the Commission
have adopted a different tone from that ordinarily
adopted in their official rulings. They state that they
have no power to allow or disallow the differential in
dispute, “ but would consider it extremely fortunate
if the conclusions reached should be made the basis of
early adjustment.” In other words, the Commission
have acted mainly in an advisory capacity, making
suggestions and recommendations, and as the plan has
worked so well in this instance, why would it not be
wise to adopt it generally.
Increased dividend and interest distributions con­
tinue the order of the day among the railroads, re­
flecting the great improvement in the revenues of our
transportation lines which occurred during the twelve
months ending last June. The Milwaukee & St. Paul
management have followed the ultra-conservative
course of not enlarging the dividend on the common,
stock, which is now at the rate of 5 per cent per an­
num. On the other hand, the Atchison managers
have this week declared the full 4 per cent on the
adjustment incomes. This shows at once the favor­
able state of the company’s income and the con­
servative basis on which the property was reorganized.
Interest on these incomes at present is not obligatory
bnt is dependent entirely upon earnings. A year ago
the payment was only 3 per cent, and this was based
on the surplus for the eighteen months ending June
30 1897. The dividend of 4 per cent now declared
comes out of the earnings for the twelve months end­
ing June 30 1898. As the amount of the incomes
outstanding is $51,728,000, the 4 per cent to be dis­
tributed will call for a payment of over two million
dollars. A preliminary statement of the earnings for
the late year was published in the C hronicle of Aug-ust 6, and showed a gain over the year preceding of
no less than $5,580,459 in the gross earnings and of
$2,689,492 in the net earnings.
On account of the pressure on our columns we have
deferred until next week the publication of our monthly
statement of the gross earnings of United States rail­
roads for August. A preliminary tabulation which
we have prepared this week covering 92 roads shows
an increase of 1,873,625, or 4'37 per cent. There
was an extra business day in the month the present
year, due to the fact that August 1898 had only four
Sundays where August 1897 had five ; but on the
other hand the grain movement was of small dimen­
sions and recorded a large falling off from the previous
year. This latter fact will explain the decrease in
earnings shown by some of the grain-carrying roads
and also the shrinkage noted on some of the trunk
lines. The New York Central, for instance, reports
$268,041 decrease, which is explained entirely in that
way. The ratio in this case is less than 7 per cent,
and we have it on good authority that, owingto the
saving in expenses which has been effected through
consolidation and in various other ways, there will be
no loss at all in the net. It is to be noted that to­
wards the close of the month the comparison on some

50 i

T H E G H K O N1CLE

lxvh

of the roads improved very decidedly. Thus our February 1895 for the maintenance of the status
statement for the fourth week of August given on sm­ quo in South Africa, and both the English and the
other page and comprising 70 roads shows 9-71 per German governments agreeing to give a joint guaranty
cent increase. In part, though only in part, this ex­ of a loan to Portugal to enable her to meet the award
ceptional ratio of improvement may be referred to of the Swiss arbitrators regarding the Delagoa rail­
the fact that the week had but one Sunday in 1898 way. Germany is also reported as agreeing to recog­
against two in 1897.
nize the permanence of the British occupation of
Money on call, representing bankers’ balances, has Egypt. On Wednesday it was announced that Li Llung
loaned during the week at 2 and ar 4 per cent, averag­ Chang had been dismissed from office. These import­
ing 84. The lower rate was recorded on Tuesday ant events had a decided influence upon the London
when there was an easy tone to the market, due to the financial markets early in the week. The Bank of
announcement of a call by the Treasury for the re­ England minimum rate of discount remains un­
demption, during the current month, at a rebate of 4 changed at 24 per cent. The cable reports discounts
of 1 per cent, of the $14,004,560 outstanding currency of sixty to ninety day bank bills in London If (5,14 per
Os, which will mature at the end of the year. The cent. The open market rate at Paris is l|@ lf per
higher rate was first recorded on Wednesday. Then cent and at Berlin and Frankfort it is 3:j per cent.
some borrowers paid off an aggregate of about According to our special cable from London, the Bank
$5,000,000 outstanding loans at 3 per cent at the of England lost £251,167 bullion during the week and
banks. Later in the day, when they sought held £34,753,051 at the close of the week. Our corre­
to borrow, the banks refused to loan at less spondent further advises us that the loss was due to the
than 8 per cent, and in the attempt to obtain withdrawal for export of £33,000 to the United States,
a supply at the Stock Exchange the rate was hid up to shipments of £253,000 net to the interior of Great
to 4 per cent,, but the closing rate was 3 per cent. Britain and to £35,000 imported from Australia.
The range for money ou call on Tuesday was from 2 The foreign exchange market has been heavy this
to 3 per cent; on Wednesday from 24 to 4 per cent; week, influenced by fairly liberal offerings of cotton
on Thursday from 3 to 4 per cent, and on Friday from and grain futures and by a limited demand. The re­
2$ to 4 per cent. The important feature is that the ported large purchases of stocks for European ac­
Treasury has again been drawing largely from, the count, stimulated by the cheering political and other
banks on account of bond settlements during the news early in the week, also had some effect upon the
week. On Wednesday the Sub-Treasury, under in­ market. The absence of important demand seems to
structions from Washington, began to receive gold be easily accounted for, the foreign trade conditions,
from the banks in exchange for currency of the denom­ present and prospective, giving assurance of lower
inations of $o, $10 and $30, to be shipped from Washing­ rates for exchange and therefore deterring purchases
ton to the interior at Government rates for transmission except for current needs. The price of gold
by express. Banks and trust companies quoted 3 per has advanced in London in response to an
cent as the minimum early in the week and later some inquiry for the metal for shipment to Amer­
few demanded 34 and even 4 per cent. Time con­ ica, and until the rates for exchange further
tracts are freely offered, with a moderate demand, and decline the movement of the metal hither from
quotations are 34 per cent for sixty to ninety days and London will probably not be large. It was an­
4 for four to six months ou good Stock Exchange col­ nounced on Wednesday that $250,000 had been
lateral. Commercial paper is not very active, the supply bought at the English capital for shipment to New
is moderate and the demand light, especially from York and on Thursday the engagement of $400,000
bankB. Rates are 4 per qent for sixty to ninety-day en­ was reported. There was an arrival of $900,303 gold
dorsed bills receivable; 4@5per cent for prime, and 5@ on Thursday; previously reported $2,855,573, mak­
6 per cent for good four to six month’s single names. ing the total arrivals on this movement $3,755,876.
Banks having large correspondence report a continued The arrivals of gold in transit for Cuba during the
inquiry for re-discounting from the South, the West •week have been $1,188,143; previously reported
and Northwest; but otherwise no especially new fea­ $1,608,422, making a total of $2,796,565.
ture. One of the large banks reports purchases of pa­ The range for nominal rates for exchange during
per this week for the account of a Chicago institution. the week has been from 4 834 to 4 84 for sixty-day and
It is claimed by the officers of this bank that the from 4 854 to 4 86 for sight, and after Wednesday
merchants of this city are not suffering from the nearly all the drawers posted the lower rates. The
effects of the diminished bank reserves, for compara­ market opened easy on Tuesday, though rates for
tively few merchants are borrowers and good names actual business for long and 3hort were not quotably
can be sold at fair rates. It was reported from Wash­ lower and the only change, compared with rates at the
ington on Thursday that the Secretary of the Treas­ close on Friday of last week, was a reduction of oneury has no present intention of calling for the re­ quarter of a cent in the bid price for cable transfers,
demption of the outstanding 3 per cents, for the making the quotation 4 85@4 854. On Wednesday
reason that they are so largely held by the banks as the tone was weak and rates for actual business were
security for circulation.
reduced one-quarter of a cent all around to 4 82|@
The news from Europe during'the week has been of 4 82f for long, 4 844@4 84J for short and 4 85@4 85£
unusual importance. On Saturday dispatches were for cable transfers. The market was again weak on
received in London announcing an Anglo-Egyptian vic­ Thursday, mainly by reason of an absence of demand,
tory in the Soudan and the capture of Omdurman, the and rates for actual business were further reduced oneMalidi’s capital. It was anuounced ou Tuesday that quarter of a cent, to 4 82|@4 824 for long, 4 84f@
an Anglo-Russian understanding had been reached. It 4-844 for short and 4 8Af@4 85 for cable transfers.
was also reported on Tuesday that England and Ger­ The market was steady on Friday. The following
many had come to an agreement on all African ques­ shows the daily posted rates for exchange by some of
tions, Germany] withdrawing the demand made in the leading drawers.

T H E CHRONLCLE.

S eftbmbeb 10, 1898. |

505

Khedive in 1882. Both England and France were
then forced to take sides against the rebel, and in
favor of the incompetent Khedive, because the main­
Sept. 2. Sept. Sept. Sept. 7. Sept. Sept.
tenance of the existing government was necessary to
\
the interests of the two Powers in the Suez Canal.
A
The uprising of Arabi was dealt with in a single sea­
\
son, but was promptly followed by the far more
\
serious revolt in the Soudan. France, invited to par­
I
o
ticipate in the movement against the Mahdi, declined
the offer, and the British army of occupation was left
to protect the interests of civilization in Egypt.
The situation in Egypt which confronted the Glad­
The market closed steady on Friday, with rates for stone Government at the opening of 1883 was in many
actual business i 82}@4 821 for long, 4 S4^@4 84J for ways similar to that which now confronts our Gov­
short and 4 84|@4 85 for cable transfers. . Prime ernment in the Philippines. There was conservative
commercial 4 81f@4 82 and documentary 4 81i@ advice in plenty for the Ministry to withdraw its army
-4 81f. Cotton for payment, 4 81£@4 81 f; cotton for from the Nile and leave Egypt to solve its own in­
acceptance, 4 81f@4 82, and grain for payment; ternal problems. It was reasoned that England had
no vital interests in Egypt; that continued occupa­
4 81|@4 82.
The following statement gives the week’s movement tion would subject the British Government to col­
of money to and from the interior fey the New York lision with either jealous or hostile Powers; that the
end of a struggle to pacify Egypt was not visible; and,
banks.
in brief, that the game was not worth the candle.
Received by Shipped by Net Interior
Week Ending Sept. 9,
But to this the answer was made, and was accepted
y , T. Banks. y . T. Banks. Movement.
as conclusive by the peace-loving Gladstone Ministry,
j that to evacuate Egypt would be to commit the Nile
Result with Sub-Treasury operations and gold imports. Scountry to anarchy, would confess the futility of all
the preceding Egyptian policy, and would be in effect
Into
of y et Change in to flinch from a situation which, incurred by circumWeek Ending Sept.
Banks.
Banks. Bank Holdings. | stances and not as a result of choice, had in the end
imposed a duty both to English interests and to
civilization. This was fifteen years ago; the victory
The following table indicates the amount of bullion of Sir Herbert Kitchener merely marks the culmina­
in the principal European banks this week and at the tion of the policy then adopted.
The chapter of events in the period covered by this
corresponding date last vear.
policy has been interesting, and at times both exciting
Sept.
Sept.
and discouraging. It has comprised the curious ex­
Bank of
Gold.
Silver.
lotsu.
Gold. Silver. Total.
pedition of General Gordon in 1884 to treat person­
JL
ally with the Mahdi, his assassination by the Der­
vishes in 1885, the futile movement of Lord Wolseley
and Sir Charles Wilson in the same year, the death of
the Mahdi and the rise of his equally ferocious lieu­
tenant, known as the Khalifa, the period of several
years when the English Govemtn&nt seemed to hesi­
97 400 577
tate and to weary of its task, and finally the renewed
forward movement to Dongola in 189G, which led to
eventual success under the very skilful commander
ENGLAND’S VICTORY IN EGYPT.
who now occupies the rebel capital. There has been
The capture of Khartoum, last .Monday, by Sir Her­ heavy loss of English life and large expenditure of
bert Kitchener and his English and Egyptian regi­ treasure, the final victory having been obtained only
ments, probably means the downfall of that singular by actually building a first-class railway in the rear of
movement of fanaticism and rebellion known as Mah- the advancing troops. It is not unnatural that many
dism. Jt is surmised by careful observers that it people, even now, should ask what was the uso of
means more than this, and will involve the virtual such a policy.
occupation of Egypt as a British colony. For We suppose that the average Englishman will an­
although (treat Britain has all along assured the other swer, first, that the operations of 1882, which were
European Powers that its intervention in Egypt would necessitated by all that had gone before, served in
be restricted absolutely to the pacification of the their turn to make logical and inevitable all that hao
country, there is every probability that withdrawal of followed; second, that by no other human means
the strong arm of England, even after last week's vic­ could commerce in the Suez Canal and up the Nile
tory at Omdurman, would be merely the prelude to have been protected. There was, in short, a strong
another chapter of anarchy. To our mind, the whole probability that a fertile country, well adapted to fill
history of this Egyptian expedition has an instructive the needs of the world's consumers, and lying beside
bearing on our own existing problem in the Philip­ one of the principal channels of the world’s commerce,
pines ; and with that parallel In view, we shall under­ would lapse into barbarism unless some modern civil­
take to recall the history of the English venture in ized Power should interfere. By a combination of
the Soudan.
circumstances not entered upon in any expectation of
English invasion of the Upper Nile began with the what actually followed Great Britain was the Power
rebellion of Arabi Pasha against the Egyptian on whom was imposed this civilizing mission. If she
DAILY POSTED RATES FOR FOREIGN EXCHANGE.
MON.,
5.

F r i ..

(<50 days.
• Sight...
J00 days.
Baring.
Magonn & Co.. Sight-.
500 days
Sank British
No. America.. Sight...
500 days.
Bank of
Montreal....... Sight...
Canadian Bank ( 00 days.
of Commerce.. Sight-.
Heidelbach, Ick-i
elbeimer & Co. (

-grown Bros..

Laiard Freres... j

Merchants’ Bk. (00 days
of Canada.....

S3*
86
84
86
84
86
84*
86
84'
86
8
4
86
84
£0
S4*
86

TUI8..
6.

>
•3
*
Q
a

83*
85*
84
86
84
86
84
86
84
80
S3*
85*
33*
85*
84
80

WED.. T h u s -.
8.
83*
85* |
84
86
83*
85*
84
80
83*
85*
83*
85*
83*
86*
84
80

83*
86*
83*
£5*
83*
85*
83*
85*
63*
85*
83*
85*
83*
85*
^4
80

FBI.,
9
.
83*
85*
83*
85*
83*
85*
63*
85*
83*
<?5*
f3 *
85*
83*
85*
84
80

1898.

$0,102,000
749,000

Total gold and legal tenders......

$5,054,000 Gain.$l,108,00C j
094,000 Gain.
55,0<X 1

$0,911,000

$5,748,000 Gain.$1,163,Oflf |

Out

9, 1898.

Banks’Interior movement, as above $0,911,000
flub-Treasuiy operations............... 21,000,000

$5,748,000 Gain $1,103,000
32,000,000 Loss.11,000,004

Total gold and legal tenders____ $27,911,000 $37,748,000 Loss $9.837,00(

8, 1898.
|

England.......
France........
Germany....
Russia ......
Auft.-Hnnfi’y
8pain...........
Ita ly...........
Netherlands .
Nat. Belgium.

34,752,051
........, 34,762.051
76,103.018 49,791 577 124,956,196
28.352.000 14,605,000, 42,957,000
10 52.000 4.437.000 112,889,000
8.4
85.0P0.000 12,024,0001 47,084,000
10.691.000 6.590.000 16 181,000
14.904.000 2.169.000 17,133,000
4.312.000 0,815.000 11,127.000
2.917.000 1,459,000] 4,370,000

9. 1897.

|

j
S
$
1
35.3P3.878! : .......... 35,308,678
60.680.258 48.093,3 2 129,573,670
28,147,000 14,500.000 42.047.000
93,170.000- 4,096,000 97.872.000
38,132.000,12.541,000 60.073.000
9,02S,000|10,630.000 19.058.000
15,895,000; 2, <77,000 17,872,00c
2,032.000, 0.85S.O O 9,490,00(
O
O
2.904,607, 1,462,383 4,357,O C

ToLthis week 314,603,009 ,
.
'412.054,24* 305,058.803 101847045 407,508,448
Tot. prev. wli 316.703.204 97.820.S94'm.534.(i93 307,443.958 102470078 409,914.036

506

THE CHllONICLE.

[Vol. LXVII,

had flinched from it nnder conditions then existing, Egypt and regarding the Philippines, that accident
Ehe would not have been tho Great Britain of history. forced England and the United States into unwelcome
As a matter of fact, the results of tho English pro responsibilities, or that the two nations merely dis­
tectorate in Egypt—if we may call it by that name— charged their duty to modern progress, we reach the
has not merely held back the tide of anarchy and Mos­ same conclufion.
lem fanaticism. To maintain the status quo, in all In our opinion the colonial problem of the next
senses of the expression, would not have been any very generation is not, whether the civilized Powers will or
extensive service to civilization, because the couutry will not fall heirs to the estates of what Lord Salis­
was already falling into ruin through the tyranny bury described as dying nations. That question is al­
and incompetency of the regular Khedival Govern­ ready being rapidly answered in the affirmative. The
ment. The Upper Nile region, where the Mabdi and the real problem is, whether the nations which are obtain­
Khalifa have hitherto enjoyed almost undisputed rule, ing this control are able and willing to use their op­
is now largely a waste, though prior to 1882 it was full portunities properly. The preliminary struggle over
of farms and cattle. In this district civilized life will this question has already been witnessed on the
naturally be restored, under the guardianship of Eng­ Chinese coast, and it is after all only the colonial
lish garrisons. But meantime Lower Egypt also has al­ problem of the Eighteenth Century in a somewhat
ready begun to feel the beneficent influence of humane altered form. Spain has lost all her colonies because
modern government. While extending military aid she used them as a means of profit to the home gov­
to the helpless Egyptian Government, England, in ernment, exacted by onerous trade restrictions and tax­
common with other European Powers, has not only ation. England lost the richest of her colonies because
required surrender to the control of European tribu­ of exactly the same blunder, and saved the rest only
nals of the finances of the Government, but has placed by promptly abandoning the mistaken policy. Ger­
in the hands of a mixed native and foreign tribunal its many and Russia, who are uow aspiring to colonial
judicial administration. The very first result of this rule, will be tried by the same test, and so will the
judicial system was to curtail the arbitrary powers of United States. If these Powers learu their lesson in
advance, as England learned hers through experience,
the Khedive himself.
Life and property are now secure in Egypt; per­ we do not doubt that future history will describe the
sonal rights are protected, and not only trade but partition of Africa and Asia as the great events of the
accumulation of property by the poorer classes has century in the progress of civilization. It is not least
been made possible. It has been estimated that al­ striking among current incidents of diplomacy that
though taxation under British control has been heavy shrewd European critics are accepting the rumored
because of the war expenses, the average rate is never­ commercial treaties regarding the foreign acquisitions
theless barely one-third of what it was under the pre­ of European Powers as a distinct step towards the
vious arbitrary rule of the Khedive. Trade at the Czar’s plan for a halt in the increase of modern arma­
same time has been materially expanded, and, as was ments.
naturally to be expected, the chief benefit has accrued
to England’s commerce. But there has been no re­ THE M ILW AUKEE & ST. PA U L DIVIDEND
strictive policy; the United States, for instance, has Considerable disappointment has been felt because
in the last ten years doubled or trebled its annual the directors of the Chicago Milwaukee & St. Paul,,
export of merchandise to Egypt, and has increased its at their meeting on Thursday of this week, did not in­
imports from that country almost exactly ten-fold. crease their dividend distribution on the common stocks
All this, we should say, is a justification of the Eng­ The last semi-annual payment on the common shareslish policy in North Africa.
was 2£ per cent and the next dividend has now been
We do not wish to be understood as contending that fixed at the same rate. In other words, the stock­
because an uncivilized [territory will be benefited by holders are to get altogether 5 per cent out of the
transfer ^to the control of an intelligent government late year’s earnings. Most of them had looked for 6
therefore every progressive State is bound to circle the per cent.
world as a knigbt-errant of modern industry. We do The case is one that allows for considerable differ­
believe, however, that civilization moves only as the ence of opinion. On the one hand 5 per cent is to-be
governments of to day accept the duties imposed on regarded as a pretty satisfactory rate of return. No
them by circumstances or by the logic of events. Eng­ doubt, also, considering the state of public sentiment
land did not want Egypt, and could she consistently in the West towards the railroads, an unduly high re­
do so, she would gladly get rid of her responsibility turn is to be avoided. Furthermore, in these days of
to-day. But in reviewing the successive steps by declining freight charges, the position of a railroad
which the present situation was created, the student property is very much strengthened if a considerable
of recent history will find that the present amount out of earnings is devoted each year to im­
position of the British Government was inev­ provements, betterments and additious, instead of
itable. We believe that the acquisition of Luzon, and providing the money by new capital issues. On the
its future control by the United States, is equally in­ other side of the question, however, the arguments
evitable. The recognized government of the Philip­ in this instance are equally strong. If in a time
pines had broken down, precisely as did the recog­ of business depression dividends are to he re­
nized government of Egypt fifteen years before. In duced below the normal, is it objectionable to
each case the natives were eager to obtain control of pay somewhat above the normal rate when times
government, and in each case it was absolutely cer­ are prosperous and revenues large. Then again
tain that they were incompetent to govern. The al­ the St. Paul's income exhibit for the late year is
ternative, then, waB control by a civilized outside of sueh a flattering character, while the outlook
power, or anarchy, and circumstances left the decision, for the future is so promising, that no one
in each instance, with a single outside government in can deny that an increase in the dividend would
possession of the field. Whether we say, regarding have been looked upon as fully justified by conserva­

September 10,

1698,]

T H E C H R O N IC LE .

507

tive opinion. Furthermore, financially the position there was $7,045,911 of cash assets, over five millions
of the company is one of exceptional strength, and being in actual cash. In addition the company holds
the money to represent the increased dividend could $6,587,000 of securities in its treasury, and ha3 besides
have been spared without difficulty—the holdings of a separate cash fund of $1,66 L,350 representing de­
cash and cash assets being of really striking propor­ posits to the credit of the Renewal Fund.
tions, as we shall presently show. Thus the matter of
THE WABASH RAILROAD.
increasing the dividend was really a question of policy,
and the management have doubtless acted for the best In our B ankers ’ and T rust S upplement last week
we published an article on “ The Business Outlook,”
interests of the company and the security holders.
Whether or not the shareholders feel satisfied with contributed by Mr. O. D. Ashley, the President of the
the course pursued, they cannot fail to derive great Wabash Railroad. It was a thoughtful and suggest­
gratification from a contemplation of the results for ive paper, furnishing a clear insight into the condi­
the late fiscal year. The annual report has been issued tions likely to control the course of business in the
this week and from every standpoint it is of most immediate future. This week we have Mr. Ashley’s
pleasing character. Needless to say great expansion is annual report to the stockholders of his company, and
shown in both traffic and revenues. The number of this also is an interesting document, being written in
tons of freight handled increased 2,670,589, or 23M7 the same earnest, thoughtful way. It deals of course
per cent; the number of ton3 one mile increased 19'52 mainly with the affairs of the Wabash Railroad, but
per cent. The average ra e dropped to below a cent there are also some general observations bearing on
per ton per mile, namely to 9 72 mills, but this repre­ the railroad industry as a whole. Not the least of the
sents only a relatively small decline. Hence gross merits of Mr. Ashley’s productions is that they are
earnings were added to in the large sum of $3,702,895, temperate in language and conservative as to state­
and even the net earning3 increased over a million ments and conclusions.
dollars ($1,078,868)—this, too, notwithstanding ex­ In his report Mr. Ashley has this time a much more
ceptionally liberal outlays on maintenance and re­ pleasing account of the year’s results to unfold than
newal account; for instance, $1,361 046 was spent for heretofore. In the long period of depression, from
repairs of locomotives against only $972,041 the year which all our railroads suffered so severely, the Wa­
before, while a contribution of $1.125 000 was made bash management very naturally had a difficult task
to renewal account, against only $200,000 in 1896-7. trying to make both ends meet. In 1893 4 for in­
The traffic statistics reveal one feature which will stance it fell $671,764 short of meeting its obligatory
no doubt be a surprise. In view of the large g ain fixed charges; in 1894-5 it did but little better, falling
crops raised last year and the excellent demtnd which $542,907 short. The next year (1895-6) conditions
developed for the same, tin popular impression has improved, and the road was able to show a small sur­
been that the striking gains in earnings that Western plus ($66,800) on the operations of the twelve months.
roads have been showing, and particularly those in the In 1896-7, also, there was a small surplus ($^8,336),
territory occupied by the St. Paul, were due chiefly to though this was the result entirely of economies in
an augmentation in the grain tonnage. This illusion management, gross earnings having again fallen off
the report before us dispels. It is found that decidedly, Now for 1897-8 we have a surplus in the
in the aggregate of all agricultural products the large sum of $401,496, and this, too, after the exercise
increase was only 581,296 tons, while the other classes of full latitude and freedom in the making of expenses.
of tonnage increased 2,095,293 tons, or nearly four Thus for the first time in five years the company has
times as much. In ratio, the addition in the first had a period of twelve months when the situation has
case was 15-0l per cent, in the other 27-28 per cent. had a promising appearance. As copipared with the
President Roswell Miller says tersely: “ the increase twelve months preceding, of course the contrast is
of earnings during the past year was due to the gen­ marked, as shown by the increase of $1,681,075 in the
eral improvement in business,” and the figures given gross earnings—nearly 13 per cent. The conditions
justify the statement. Of course this improvement certainly were much better, but in order to avoid
in business must be referred in great measure to the error it must be borne in mind that they were not
excellent harvests gathered and the high prices real­ wholly free from adverse features. The farming
ized by the farmers for their products, enabling classes enjoyed unusual prosperity, the grain move­
them to spend money with greater freedom than for ment was large, and at the same time there was a fair
revival of general trade—whose full development,
years past.
The income statement shows a surplus above however, was interrupted by the outbreak of the war
charges for the twelve months of $5,928,683. The with Spain. But as in the case of the other roads,
7 per cent dividends on the preferred shares and the the trouble has been with the rates. We need
5 per cent dividends on the common shares call hardly repeat that during the greater part of the
together for $4,502,298, which, deducted, leaves a bal­ twelve months almost utter demoralization in tariff
ance of $1,426,385. An additional one per cent on schedules prevailed in trunk line territory. On the
the common stock would have reduced the amount Wabash the rate received has been steadily tending
only $460,266, so that even on the basis of 6 per cent downward for many years, and in 1896-7 the average
dividends there would have been a surplus balance of per ton per mile was only 6 61 mills. In 1897-8, under
the demo alization prevailing, the average dropped
about a million dollars.
In addition to the expenditures for improvements still lower, namely to 6-24 mills. Mr. Ashley, in his
and betterments paid for out of earnings, the company remarks, refers to the unsatisfactory nature of the sit­
spent $1,796,870 for new equipment, real estate, &c., uation in this respect, saying that while there has been
which was charged to capital account. As stated manifest improvement in the volume of traffic, and con­
above, the balance sheet reveals great strength in the sequently a fair increase in net profits, it is still quite
finances. Including accrued interest, the current evident that the rate problem is as far from a satis­
liabilities June 30 were $6,726,156, as against which factory solution as ever. He conten Is that it is not

[Y ol. l x v h .
T H E C H R O N IC L E .
so much » question of what the rateB should he as THE CLEVELAND CINCINNATI CHICAGO
how they can be maintained when agreed upon. He
& ST. LOUIS DEPORT.
508

argues that because of the failure of Congress to proride needed relief by the amendment of the InterState Commerce law, “ the complicated machinery of
inland transportation is allowed to work under labori­
ous and unsatisfactory conditions, to the exclusion
or indefinite postponement of improvements in har­
mony with the progressive spirit of the times, and
yet public clamor is at once aroused if there is the
least failure in service or in the adb'Ammodation of
travelers.''
He also notes that the great decline which has been
established in rates must have had far more serious
results except for the coincident development of re­
lief in two directions. The state of the money
market made possible the readjustment of interest
obligations, as old mortgages have matured or as bank­
rupt companies have been reorganized. The substi­
tution of 34, 4, 44 and 5 per cent bonds for 6
and 7 per cent issues, has saved enough in fixed
charges, he states, to neutralize a fair share of
the reduction in rates of transportation, while
the superabundance of capital has rendered its
employment difficult except at a lower range of inter­
est, and thus a great change has been brought about
in the finances of the railway companies which to that
extent compensates for the diminished revenue of the
operating departments. At the same time the severe
trial to which railway property has been subjected has
had one good effect—it has developed economical
methods of operations in many directions, thereby
enabling the lines to move an enormous volume of
freight at rates which only a few years since would
not have paid running expenses, but which now yield
a small although inadequate profit. It is well enough
to bear in mind, however, that neither this process
nor the other can be continued indefinitely.
We have stated above that the surplus above ob­
ligatory charges for the twelve months ending June 30
1808 amounted to $401,496. This would have sufficed
to pay the full 6 per cent on the $3,500,000 of De­
benture Class “A” bonds, and leave a small amount
for the Debenture Class “ B ” bonds. But the man­
agement have wisely decided that the floating dett of
the company should be paid before dividends could be
claimed by the holders of the Debenture mortgage
bonds. It is pointed out that a year ago this floating
debt amounted to $800,000, it consisting of notes given
for borrowed money. Moreover, it was all incurred in
meeting the obligatory interest payments in the years
1804 and 1895, when, as already stated, earnings were
insufficient for the purpose.
Mr. A-hley shows that the stipulations of the de­
benture mortgage obviously contcmphitc the dis­
charge of a floating debt incurred in this way, and
then say- with much force that irrespective of the
legal obligations of the company it is not only sound
policy on the part of the company to clear off its
floating debt, but it is beyond question for the ulti­
mate advantage of the holders of the debentures. He
states that through the application of surplus earn­
ings in paying off the notes, the floating debt has
now been reduced to $100,000. Within the ensuing
six months, he thinks, a large part, If not the whole,
of this can he liquidated. And at the end of the fis­
cal year, counting upon a continuance of fair traffic,
it is not unreasonable to expect, he opines, a complete
elimination of these borrowed-money notes.

While the monthly returns of the “ Big Four,” or
Cleveland Cincinnati Chicago & St. Louis Railway,
have left no room for doubt as to the nature of the
company’s income exhibit for the fiscal year ending
last June, the annual report, which we publish on
another page, presents to the view of the security
holders many facts and features which are necessary
to a correct understanding of the year’s results, and
which serve to make the showing for the twelve
months all the more encouraging. The road is an
allied property to the Chesapeake & Ohio, Mr. M.
E Ingalls being President of 'both, and the report
will attract special attention this time by reason of
the notable achievements of the O. & O. in tho late
year and the desire to see whether the Big Four is
distinguished in the same way. Besides this, recent
rumors concerning the probable absorption of other
lines have aroused additional interest regarding the
company’s affairs.
In the light of the facts brought out iu the report
the income exhibit for the twelve months cannot be
regarded as otherwise than highly satisfactory. The
reader knows that the general conditions prevailing
during the twelve months were such as to ensure a
large addition to the tonnage of the railroads—that
the grain traffic was of unusual dimensions, that farm­
ers received good prices for their products, and that
with the money so received they bought freely of
goods and commodities, thus furnishing a large vol­
ume of return freights, and that there was more or
less of a revival of trade activity all over the United
States. But while this is so, one important fact must
always he borne iu mind in considering the return of
a road situated in that part of the country where the
lines of the Big Four lie—especially at a moment like
the present when we are receiving the reports of
the Northern Pacific and the Milwaukee & St.
Paul, with their phenomenal records of increase.
M have reference to the differences in the char­
Te
acter and conditions of the several sections of
country. In the territory traversed by the lines
of the Big Four there is no such opportunity for
growth as there is iu the territory served by the
Northern Pacific and the St. Paul. The country is
already tolerably well settled, and while the absolute
amount of new traffic to be moved may equal and
even exceed that developed in the respective territories
of the other two systems named, the chance for getting
any decent revenue from it is very slim.
In the Middle Western States there has long been a
superabundance of roads. The whole territory is, in
fact, thoroughly grid-ironed with railroad lines.
Hence when an additional ton of freight is
created, or appears in evidence, a dozen different
roads stand ready to pounce on it, each anxious to get
it away from the others. Out of these conditions and
the fact that much of the tonnage consists of lowclass freight wffiich must be hauled long distances,
there has arisen a situation as to rates that makes it
necessary for the roads which are so unfortunate as to
bo situated in this territory to accept exceedingly
small remuneration for their transportation services.
The properties under Mr. Ingalls have of course been
managed and adapts 1 to meet just such conditions,
but that does not alter the fact Aha t the problem itself
is a difficult one and that it imposes a rigid limit on
profits.

S eptember 10, 1898,]

T H E C H R O N IC LE .

509

la this we are speaking, of the state of things as it twelve months, from which it follows that whatever
has existed for a long time. In the late year the expenditures for improvement and betterment were
trouble with reference to rates was greatly intensified, made were charged directly to expenses and paid for out
for, notwithstanding the large amount of tonnage of earnings. Mr. Ingalls refers to these as “ expenses
available, less heed was paid to agreed schedules of to put the property in proper condition and repair
rates than ever before except at a period of actual war some of the wastes of previous years, when the earn­
between the roads; and this is the point of the whole ings were light, especially in reference to the equip­
difficulty. The effect is seen in another marked re­ ment.'” He enumerates a few of the special items of
duction in the average rate received by the Big Four. expenses. Thus 28-8 miles of side track were pro­
The average had been low in the year preceding, vided at a cost of $96,621; $36,589 was spent to build
the company having then realized only 6T4 mills new stores upon the viaduct abutting the company’s
- per ton per mile. But in the late year there was a property at Columbus; $326,000 was charged to ex­
drop to 5'45 mills, being a further decrease in this one penses for new freight cars to replace those worn out
year of over 10 per cent—due in part to a larger in the present and previous years; $56,577 was spent
amount of low-class freight carried, in the main how- on account of additional air-brakes and couplers; 15
, ever to excessive competition. The increase in ton­ new engines were purchased to replace old and light
nage was satisfactory enough, the company having engines worn out, at a cost of $145,420; 7 new pas­
handled about 17 per cent more freight than in the senger cars were purchased at a cost of $43,000.
year preceding, though the gain on the St. Paul dur­ But it is not necessary to enumerate all the excep­
tional outlays. The classified statement of expenses
ing the same twelve months was 23T7 per cent.
We refer to these facts to show that the favorable shows clearly that the bulk of the increase consisted
income results for the year were reached in face of a of expenditures of that character. For instance, we
state of things as to rates which almost seemed to find that $2,114,094 was spent upon maintenance of
preclude the possibility of profitable results. But equipment, against only $1,562,619 in the previous
even this does not tell the whole story. The com­ year, an addition of $551,475, while for mainten­
pany at the same time managed to 'make’very liberal ance of way $1,907,948 was spent, against $1,705,606;
outlays for renewals out of earnings, and it is this the increase under these two heads alone therefore be­
fact which gives peculiar emphasis to the satisfactory ing over three-quarters of a million dollars. On the
•nature of the year's outcome. President Ingalls other hand, that the road was operated with true
points the contrast between the twelve months economy is evident from the fact that the increase in
just past and the annual period which pre­ the cost of conducting transportation was but $227,ceded it by saying that the year ending June 30 657, or only about 44 per cent. The real sig­
1897 closed with a deficit after paying three quarterly nificance of this last comparison does not appear
dividends of lj- per cent on the preferred shares (the until one notes that in the amount of transportation
fourth dividend being passed), while during the late work done (as represented by the tons of freight
year the company was enabled to resume dividends, moved one mile) the increase was fully 26 per cent.
and the indications are that the quarterly payments How was it possible to do 26 per cent increased work
can now be regularly maintained. Stated in figures, with an augmentation of only 44 per cent in the cost
$368,520 remained available for payment of the divi­ of conducting transportation ? One way has been to
dends in 1896-7 and $446,702 in 1897-8. The differ­ economize in the freight train mileage by increasing
ence between the two amounts is not large; still in the the train load. With 26 per cent increase in the ton­
one case the amount is equal to less than 3f per cent nage movement one mile, the freight train mileage
•on the $10,000 000 of preferred shares, in the other was added to not quite 12 per cent, the average
case it is equal to nearly 44 per cent.
freight train load having been raised from 247 tons to
But, as already indicated, this difference does not 278 tons.
reflect the full change in the results between the two The most important fact in connection with the
years—does not show the great improvement which special outlays of the late year remains to be men­
occurred during the late twelve months. We may say, tioned: the work of this character has been sub­
too, that the net earnings likewise record only a small stantially completed. Mr. Ingalls says that the num­
increase, the amount at $3,252,447 for 1896-7 compar­ bers of the freight equipment have all been filled and
ing with $3,351,726 for 1897-8. It is only when we go the whole equipment brought up to the standard, so
back and look at the coarse of the gross earnings and that “ hereafter it can be maintained with only the
the movement of the expenses that we note how expense of ordinary wear and tear and replacements.’
really marked has been the character of the improve­ Furthermore he states “ it is anticipated that for the
ment. As a matter of fact the gross earnings in­ coming yiars a large sum can be saved in expenditures
creased nearly 14 million dollars, rising from $13,117,- for equipment and track from those of the last year.”
111 to $14,320,094. But at the same time expenses Obviously therefore, taking all these facts together—
were added to in the sum of almost 14 million dollars, the prospect of a large volume of business with the
certainty of the elimination of expenses of an un­
which explains the small expansion in the net.
1 his heavy augmentation in expenses does not rep­ usual character—the future would seem to be quite
resent an enlarged operating cost, but indicates, as promising.
noted above, exceptional outlays made in the better­
THE NORFOLK & WESTERN A S
ment of the property and charged to expenses. As
REORGANIZED.
stated, too, the fact that the company should have
been able to make these outlays and yet earn 44 per While the late reorganization of the Norfolk &
cent on the preferred shares is a most encouraging Western changed entirely the financial status of the
feature of the year’s results. At the outset it is well property—so that it must now obviously be regarded
enough to observe that the company has charged noth­ as on a sound and conservative basis—it did not and
ing to construction or capital account during the could not change the conditions under which th e

510

T H E C H R O N IC LE .

[VOL, LA \ II-

load's operations have to bo conducted. These con­ in much the same way as the 0. & 0. and other roads
ditions always have been and still are very trying. similarly situated—that is by introducing economies
The traffic consists largely of minerals, which have to in operation so as to reduce the cost of performing the
bo carried cheaply, and this imposes the necessity of transportation service. For instance, wo note Mr.
moving freight at an average rate so low that but a Pink says that while there was an increase in
few years ago it would have been deemed absolutely the movement of tonnage’ (as compared with the
ruinous. In large measure the problem confronting year preceding) of IS per cent, the cost of con­
the Norfolk & Western is the same as that confront* ducting transportation was augmented less than one
ing the Chesapeake & Ohio, and it is interesting on per cent.
A heavy train load is of course a necessary concom­
that account to compare the two.
The significant feature in the Norfolk & Western itant of such a state of things. In reviewing the 0.
report, as in that of the C. & 0., is the further great & 0. report we commented on the proportions to
decline shown in the average ratQreceived. We noted which that company’s average load had risen, the fig­
in reviewing the C. & 0. statement that for that com­ ures for 1897-8 being 379 tons. Perhaps it will be a
pany the rate per ton per mile in the late year had surprise to hear that the Norfolk & Western does not
dropped to only 370 mills per ton per mile. On the fall far behind the C. & 0. in this respect, the average
Norfolk & Western the average for the same year was number of tons of revenue freight per freight train
bat little higher than this, being 4-04 mills. In the having been 355 tons. Mr. Fink takes pains to state
previous year the average was 4*46 mills, so that in this that this result wa3 achieved notwithstanding the
single period of twelve months the decline has been fact that the grades aud curves of the road are not
about 10 percent. When such a percentage of reduction favorable to she movement of heavy train loads, and
occurs, in a rate already low, it is obvious that rail­ notwithstanding that a large percentage of the freight
road operations must be conducted with skill and car mileage consists of “ empties.”
efficiency, to avoid bankruptcy. President Henry It will be seen from what has been said that condi­
Fink in his report makes plainly manifest the reasons tions have been such as to put the reorganized prop­
for the further fall in rates. He points out that ag­ erty to a severe test. That it has stood this test is
gregate freight tonnage increased as compared with the best proof of the thoroughness with which the
the year preceding no less than 1,309,276, or 1878 per work of reorganization was done. The company had
cent, and that the bulk of the increase occurred in fixed charges of $2,239,433 to meet. With a freight
the coal and coke traffic. The coal shipments in­ rate of only four mills per ton per mile the net in­
creased 611,509 tons, or 20 per cent, the coke ship­ come available to meet these charges was 50 per cent in
ments 352,372 tons, or 46 per cent. The coal and excess of the amount required, that is, was $3,382,987.
coke shipments together constituted about 58 per cent As a result there was left a surplus of $1,143,553, or,
allowing for some minor deductions, $1,138,948. This
of the entire tonnage.
Not only must coal and coke in any event be carried is sufficient to give the Adjustment preferred shares
at low rates, but in addition, as Mr. Fink takes pains the full 4 per cent dividends to which they are entitled,
to show’, the bituminous coal business during the and leave a balance of pretty nearly a quarter of a
whole year was in a state of demoralization. As a million dollars. We may say, too, that operating
consequence the Norfolk & Western was compelled expenses for the year include a credit to the Equip­
to accept on tidewater and other competitive ment Renewal Fund of $113,434. This, if not in­
coal somewhat lower rates even than it had received cluded, would have swelled the surplus correspond­
daring the preceding year. As to the grain inglyshipments we understand that the company has for In one particular the Norfolk & Western pursues a
some time been refusing this class of business, different policy from that of the 0. & 0. The latter
since the management could see no profit in reported for the late year no charges to Construction
it. The report says : “ The rates on export grain and Equipment, everything being included in expenses
are now so low as to render this traffic undesirable.” and paid for out of earnings. The Norfolk & Western
Speaking of the rate situation generally, Mr. Fink shows new capital expenditures to an aggregate of
adds his testimony to that of all other railroad officers $1,334,596. Obviously, however, nearly the whole of
when he says that while tariffs in the Southern terri­ this could have been provided from surplus earnings,
tory have been fairly well maintained, rates of freight had the company chosen to apply this surplus
in the territory of the Joint Traffic Association have in that way instead of in the payment of divi­
been and are in a demoralized condition without prec­ dends on the preferred shares. But the road is
edent in the history of unrestrained competition. English-owned, and such a course we are sure
“The evil of rate-cutting,” he observes, “seems to would not have met with the approval of the foreign
have passed from the acute to the chronic Btage, and interests. Messrs. Price, Waterhouse & Go. have
audited the accounts, and certify that nothing has
ordinary remedies are no longer effective.”
This is not too strong a characterization, and with been charged to capital account that ought to be in­
suoh difficulties confronting the management the cluded in expenses. Moreover, Mr. Fink points out
nature of their task must bo obvious to every one. that liberal expenditures were made for maintenance,
Perhaps it is well enough to add, however, in order renewals and improvements (and included in operating
that the public may appreciate fully the significance expenses) in addition to the outlays for construction
of undertaking to net a profit on a rate of 4 mills per and equipment charged to capital account.
ton mile, that it means that the road had to
move two and a-half tons a mile to earn one cent. No­
7RE'S B Y BRANCHES OF TRADE.
where outside of the ( nited States has such an under We F A IL T Dun's Review the. following statement
take from
taking ever been attempted, and probably nowhere showing the failures in the United. States by branches of
else could it be attempted with any assurance of suc­ trade for the month ending August 81 in each of the last
cess. The Norfolk & Western has met the problem three years.

T H E CHRONLCLE.

S eptember 10 1893.1

!511

Committee it is evident that no relief in that direction can
he hoped for. As I have already said, the statement is
189 \
1897.
Manufacturers.
1898.
merely a preliminary one, and the fall recommendations of
lAabuxu**. the Committee are not yet in the possession of the public.
$
$
As the subject is one of such great importance, both to
117.2''?
12
2.600
10
5°9.Of)0
2
848,5 7
19
12
105.10*
371.300 India and to this couutry, it was rightly felt that the public
11
8.00
89 500
2
109,000
4
were entitled to know how far the labors of the Committee
2
12.® 0
35
105.136
3.7*'?,220
17
80,755
17
113,- 00 had progressed, and it must be frankly admitted that a very
12
Clorhins? and millinery.
1
700
1
Bat, the Com­
3
49,109 large amount of evidence has been collected.
47.3'V
14
4t.**45
2*1.695
U.200
0
053,833 mittee being so largely dominated by the official Simla ele­
8 176,1*00 11
14
002,029
ment, it was impossible to expect that they would reverse
264,*-8'
8
18
H-,300
9
64 ,*88
5
152,*00
126 8,118,131 the policy deliberately entered into by the Indian Govern­
62 1,420,896 i
8*8.047
55
All o th e r..............................
Total m anufacturing... 145 1,891,23:1 207 3,583,367 298 13,100.249 ment ia 1893. Of course, every one competent to form an
leaders.
opinion, however mn h opposed to the closing of the mints,
455,00
83
429.681
80
57
268.490
405,852
621,430 as the result of the labors of the Herschell Committee,
374.88*
177
181
157
32
150 0X6
31
15 ,715
50.467
25
511.70*
77
80
344,^54 realizes now that after five years many trade complications
79
3'>8.iS9
35
00
87 4,9r)0
34
2«5.29 5
40
50 2,460.959 of one kind and another have arisen on the good faith that
347 154
2ft
4?8- 84
32
344 H04
451 722
44
917.265
23
75,812
81.353
17
00" .237 the mints would remain closed, and it is perfectly evident
1)
322,904
2-5,409
42s. 147
41
83
3*
182.330
3 * * 102,434 that to reopen them, at any rate suddenly, could hardly fail
=
77.465
36
18
699.00* t
«
10
105,509
17
25.127
Jewelry and clocks.............
173,3*6
«
20,5 0 t) do serious harm and probably great injuries to many
9
4ft,286
Books and paners...............
8
6
3
158,5* 0
13.-00
I
13ft
664,407
1,883,8-<
1 branches of Indian trade.
612.174
61
AJ1 other..............................
_ U1
At the same time it is now admitted that even if a gold
780 9,056.008
4,17\80>*
582 3,819.156
698
Brokers and transporters. 21 378,206 16 414,193 29 5 H?2,380 standard is established in India, India is not rich enough, nor
Total commercial......... 748 6,078,655 921 8.174.4'8 1,107 28.008,637 is she likely to be in the immediate fature, to obtain the
N otk .—Iron, woolens and cottons include all to e brancnes ot tnose m anu­ necessary gold which would give her a gold currency as well
factures; machinery Includes Implements and tools; lum ber includes saw
planing, sash and door mills, carpenters and 4.»opers: clothing includes m illin-ry
and furnishings: h a tsin clu d e fu rsa n d g io .e s; chemicals include drugs, fertlli as a gold standard. Moreover, the experiment, which has
*ers. paints and oils; printing and books include engraving and maps: milling now lasted five years, shows clearly that one of the effects of
Includes baking; leather and shoes include m akers of harness, saddlery, trunks
and rubber goods; liquors include tobacco, wines, brewers and beer: glass in closing the mints has been to deprive trade in India of legiti­
eludes earthenw are, pottery, bncfc, lime and cem ent; groceries include meats
and fish : hotels Include restaurants; dry good9 include carpets and curtains ; mate banking assistance. In other words, when trade befurniture includes crockery; hardware includes stoves and cools; a m jewelry
Deludes clocks and watches. Brokers include all real estate, n >te. instira ice
-or produce dealers whose main business Is oot th e handling of actual products . c>m“s active at the great centres like Calcutta, Bombay and
with mortgage in i other lo in concerns, and transporters include all except in­ Madras, and of oursa to a still greater degree in the small
corporated railway companies
towns of the interior, money is at prohibitively high rates
and trade fails get the accommodation
legiti­
l ^ t o u c t h v g s C C o m m c v c i a l g t t g U s h ^ c t u s mately entitled,tochiefly because throughto which it is of the
the closing
mints there are no meaas of readily obtaining an increased
[From our own correspondent.!
supply of rupees whenever and wherever they may be wanted.
' L
, Saturday, Aug. 27, 1898.
It is announced from Madrid that the Spanish Cabinet has The Directors of the Bank of England at their meeting on
has decided to re assemble the Cortes on September 5, con­ Thursday morning again made no change in their official rate
trary, it is believed, to the wish of the Premier, St-nor Sa- of discount, which consequently stands at 2J^ per cent. Rates
gasta. But he has found the pressure brought to bear upon are rather lower than last week, day-to day money being in
him, both within the Cabinet and from the outside, to be so plentiful supply at about % per cent, money for the week at
strong that he has judged it best to yield, inasmuch as the about % per cent, while the discount rate for three months’
Protocol arranging the preliminaries of peace has already bills is about l 3^ per cent, and even long-dated paper is a fall
been signed. It seems that the worst that can be feared is quarter below the official Bank rate. Consequently bankers
delay in carrying on the negotiations for the conclusion of and the discount brokers who have to work from day to day
the final treaty of psace. The general feeling is, moreover, under the money market do not see any prospect of putting
that Spam, being a constitutional Power, or at any rate up rates very much in the immediate fature. There is a con­
being based upon the constitutional idea, the be3t plan is for siderable demand in Loadon, and there has been for some
the Government frankly to consult the representatives of the months past, upon Continental (chiefly Russian) account. But
Spanish nation in making their treaty of peace.
this call for gold, coming from the Government and being
So far as the United States is concerned, its victory has much in the nature of an act of savings on the part of the
been so compute and Spain is so utterly incapable of mak­ Government, is fillei with great care and will not be allowed
ing any kind of resistance to whatever terms the American to affect rates.
Government may think right to impose, that any delay, The uncertain factor in the question is how much gol d
whether caused by the Spanish Cabinet or by the Spanish America will require during the coming autumn. Of course
Government, can, it is felt, have very little effect in one way it is evident that if the New York bankers like, they can take
or the other upon the ultimate result. It ma”, of course, very large sums indeed; but so can nearly everyone if so dis­
anger the American people and force the United States Gov­ posed. Of course the balance of trade, which has been long
ernment to ask more than she would be willing to accept in favor of the Uaited States, is exceptionally so this autumn,
were she met on the part of Spain in a conciliatory spirit. and inasmuch as we shall require about our usual quantity
Nrvertheless that, it is argned, is for Spain to consider, and of wheat again this year we shall still further increase onr
is in no way any one else’s affair. Of course, the wish both indebtedness during the ensuing autumn. On the other hand,
in England and indeed all over Europe is that the peace there have bem large purchases this week through the arbi­
negotiations may be concluded with the utmost possible trage houses of American securities on American account,
despatch. Ever since the brilliant victory of Admiral Dewey and this of coarse will tend to lessen the indebtedness of
in Manila Bay, which has been fully realiz»d all over Europe, London to New York. The impression in the market seems
the Senate of Spain has frankly and fully admitted that she to be that America will take a moderate amount of gold,
was utterly incapable of carrying on the war and was will­ hut not suffi iient to cause any amount of stringency in the
ing to accept the best terms sfce could obtain from the Amer­ London market.
ican Government, and consequently the feeling now is that Business upm the Stock Exchange this week has been
the tojner the war is ended and Spain applies herself to the almost confiaed to American securities, and although the
reorganization of her whole system of government and the British public have bought but little, nevertheless there are
development of what resources remain to her, the better it distinct signs of interest in the market on the part of the
will be for Spain.
public as distinguished from professional operators, showing
A Bine Book has been issued this week which is a prelim­ clearly that if the present rise continues in the antnran, the
inary statement of the labors, so far as they have gone, of market for American railroad shares in London may become
the lodian Currency Commit'ee. As was generally ex as active whea the holidays are over as it has been during the
pected from the position of the Committee, f r o m the very past few weeks in Wall Street.
beginning it is recognized that the policy of 189? (when the For the 25 lacs of rupees offered each week by the India
Indian mints were closed to the coinage o' silver) shall be Council of Tender the total applications on Wednesday ex­
maintained, and consequently from the labors of the present ceeded 133 lacs : this compared with an offer of 15 lacs twelve
F A IL U R E S BY B R A N C H E S O F B U SIN ESS.
A u v u s t.

L i a b ilit ie s .

N o.

No.

L ia b i l i t i e s .

N o.

%

G
7

1 '

6

5

ondon

STY

l'HW ('HUOMK'Li

months ago, when the applications of the market amounted
to 100, The Council succeeded in getting a somewhat bet
ter price this week than last, although it was obliged to
make some allotments below Is. 3 29 32d. The total sales
this year so far have realized somewhat over T millions ster­
ling, comparing with a little under 4 millions sterling twelve
months ago.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols,
dtc., compared with the last three years:
:sps
Sup. 2*.

ISP?.

27,7*0.8*0
Circulation..
S.IWV7U
Publicd*»fv.j»ita...,...... .
....
.
«*t.b«>r deposit#.......................
.OOP.CSl
Government securities.......... TH
b tiier securities ..... ....... . .... 2P.bvs.um
Reserve of notes and coin..... . 24.iU .508
Coin* ouUlon, bothdepartin'ts *t»,coiV42
Prop, reserve to liabilities, p.ct.
Bank rate ... ......... per cent.
110 13-16
ConaoLs. 55£per cent.. ..... .
E6
27 1 l«4.
3
Stiver.
...... . .. ............
Cloarlne House returns......... 121.71S.00O

4$H

isbb .

Aug. 26.

Atlfl. 28.

87.634,880
H.SOI.P36
8S.106.MW

87,270.805
7,14 3,575

&

68.vS3.l0l

45,4-30,212

bfl,221,830
&i*
2
WX
2:^4c
l.

46,372.018

24,158,781
31,740,137
41,238,052

123,764.000

254ft 2 4
3

14
3

14,705.425

c<M

6 ?6
8

107 I t -10
113 1-Ifl
80166.
30 i i led.
116,160,0U 122,7 35,00 o
O

Open

26 2 4| l? ^ l 7-16 1H@1 9-W
5

X

13.22O.0SO U.05U.UU5
S5.0rti.426 SS, 82 0.034
25.3U0.60w 35,862.843

Market Rates.
London. ■y
Trade Bins.
Bank Bills.
3 Months. 4 Months. 0 Months. 3 Mos. 4 Mos.
1H&19-16
1H
Julr 29
2M
1W
3-54
14192 254®S
IK
m
Atm. 0 1 H 1 7-189154
•» IS Si* 13^5 17-16 1H@1 9-16
2MG»ri£ 1549141 1M®2
2
1 9-1601$*
20 m i
24
5
1u
••

Interest allowed
for deposits by
Joint Dis’fcH V
Banks Call Davi
1
X H
1
54934 l
l
1
A&M

2

54934 1
5 1
4

1
1

The Bank rate of discount and open market rates at the
chief Continental cities have been as follows:
Interest at
Paris........
Berlin..........
Hamburg
Frankfort
Amsterdam .
Brussels
Vienna ...
8t. Petersburg.
Madrid
Copenhagen

Any. 19.
Aug. 5.
Aug. 26
Aug. 12.
Bank Open Bank Open Bank Open Bank Open
Rate. Marke Rate Market Rate . Markd Rate. Market
2
2
2
2
14
3
1K
14
3
14
3
4
4
4
4
8*
3«
84
5
34
5
4
4
3«
4
4
3X
85*
33*
i
4
S3*
4
4
34
5
85*
34
5
2
3
3
8
3
■3
J4
24
5
%A
2
3
3
8
3
34
5
35*
254
4
4
4
m
4
334
34
3
34
3
54
5
6

4

4
6
3K

14
5
6
84
5

64
5
6
4

64
5
5
4

fit*
5

14
5
5
34
5

4

The quotations for bullion are reported as follows;
&oia>.

L ondo n Standard.
B a r gold, flue___ oz.
Bar gold.parttng.oz.
U .S . gold ooln...os.
Germ 'n gol rt nnln.ox.
French gold coin.os.
Japanese yen___ os.

A ug.
25.

t. d.

77104,
77 10%
76 5
76 ft
76 6
76 5<e

Of:

1807-8.
Aver. prloewheat,w< o k - 3 2 7 A
Average price, seas jn , 36s, 3d.

Si l v e r .

8 . it.
77
10\

10 ^ B a r silver, flue.. .oz.
77
B ar silver, oontatn’g
76 5
do 5 grs. gold.oz.
76 5
do 4 grs, gold.oz.
76 6
do 3 grs. gold.oz.
76 5»a Cake s l i v e r . - ___ oz.
Mexican dollars.oz

1895-6.
22s, 4d.
24s. l i d .

1894-5.
24s. 6d.
21a. 3d.

The following shows the quantities of wheat, Hour and

TMa icesA Laal u>eek.
t
W'leet..............qrs, 1,203.000
Floor,equal to qrs. 087,001, 1,400,000
241.000
270.000
Mil(«-----------qrs.
6(15,000

1897.

1896.

840.000
200.000
740.000

K n g lle b F in a n c ia l I l i r K o n —Per

1,2X5,000
275,000
1,180,000

Cabin.

The daily closing quotations for securities, etc., at London
are reported by cable as follows for the week ending Sept., 10 :
L ohdon.

*Sat.

M on.

Tua.

Wed. T h u rt.

F ri.

Silver, per onn » ___ d.
27%
27%
27161
0
277
s
277S
Consols., new, 2% p.ote
110&,n 1103, fl 110
no
1107 « i i o i T 1101,« H O ’ , *
For account..............
Fr’ohrentes(lnParls)tr. 10315 103-20 03-32% 03-821* 103-35 108-22J*
41 £»
42
Spanish -is....................
41%
416*
41%
;
14 1
S
14
Atoll. Top.
Santa Fe.
14*1
141i
1
37k,
Do
do
pref.
37
37 >
4
37
34
•
914,
Canadian Pactlio.___ _
90
914a
91»8
23
241,
24 k,
Central Pacific.............
23
;
21 Lj
•2414
heaapeake
Ohio...*.
2414
24 hi
J
Ohio. Mil, & St. Paul....
116
117^4 11741 1141*
58
Deny. A Rio Gr., pret..
;
59hs
5gis
57=8
1442
14
144i
Erie, oom m ou..............
14*8
38is
le t p referred ........... .
*
30 5,
391 4
38>n
o
116*2
Illinois C e n tra l.........
1181
,
118
117U
.
200
200
u4ke Shore ..................
ltb h i
s
Louisville & Nashville.
59^
6«3s
596s
60*8

&

Jk

&

fto Kan.
Tex., com..
S T . Cent’l & HndBon.
V Y. Ontario * W est’n
Norfolk
W est'n, pref.
8 orthern Paolflo. oom.
Preferred......... ........
^eonsylvania ..........
■ •hlla. 4t Read., per sh
>
?hll.
Read., 1st pret.
■ Phil. & Read.. 2d pref.
4outh'n R ailw ay, corn.
Preferred...................
CTnion Paoiffc.....
Do
new p ref..
Vabash, preferred
* Price per stare.

&

a

P

o

o
+3
&

M■
o
5
5

&

1278
122^9
17
56is
41
81%
61is
978
23
Ilk ,
9%
36is
34is
6879
234l

12’ s
122\J
17
56^
413,
81^4
61kj

934

2g3s
12L2
1018
37hj
35^
:

24

1234
122
I63i
56
39?l
30^
613s
9%
22
1138
95*
36
331s
68%
23

12*2
121*6
16=9
56
37
80is
61 %
9%
22%
1138
9-7s
36
3342
68
22**

©nmnxcrciaX and JtftisceUaucini^Jlcius.
N
B
.— The following information regarding
national banks is from the Treasury Department.
a t io n a l

anks

N A TIO N A L RANKS O RG ANIZED ,

5.135—

4 j& 25

L ondo n Standard.

4>6
5
354

1896-7.
30s. Id.
28». 8d.

maize afloat to tne United Kingdom:

20,283.816
<1.785,236

M

The rates for money have been as follows :
V
*3

1806.

.1 : t g . 85.

*

[VOL, .LKYli

A ug.

5.136—

The People’s National Bank of Dover, N e w Jersey. C a p ita l'
$50,0 O. James H , Simpson, President; W lib u r F. M o r r o w
Cashier.

18

d

d

s
27WW 271
283a
288,6
27(6,,
30
26%

The First National Bank of Truer, Iow a. Capital, $100,000.
.Tames Wilson, President; Tt. H. Moore, Cashier.

281,6
2718,0
275q
2H5a
263s

Messrs. P.xley & Abell write as follows under date
August 25:

G old—A l l open market arrivals have been absorbed, £but the in
qnlries have been less pressing than of late. The Bank has sold £ 150,
000, which is said to have been sent to the W est Indies. £75,000 ha
been received In Australian sovereigns. Shipments: Japan, ££48,000
Bom bay, £85,500. Total, £233,500. A rrivals: Australia, £20c,000;
Capetown, £146,000. Total, £352,000,
Silver.—The inquiry w as very dull towards the close of the week
but hardened quickly on further Spanish orders coming on the market.
The price to-day is 27 13-lfid. and the outlook is fairly steady. The
Indian price is Ks. 7<>v* per 100 Tolahs. Shipments: Bombay, £36,400; Karrachi, £1,700. Total, £38.100. A rrivals: N ew York, £229,000; Chili, £19,000. Total, £248,000.
M exican Dollars.—W ith the rise iu sliver, dollars have improved in
value and are now quoted at 26:Ud. Shipments to Straits, £17,550.

’

CORPORATE HXISTRNOE OF N A TIO N A L B A N K EXTENDED,.

2,397—The D illsb u rg National Bank, D illsbnrg, Pennsylvania, ui\til
Au gust 31, 1918.

IN LIQUIDATION,

3,126—The F irst National Rank of St. Paul, Nebraska, lias gone into
voluntary liquidation by resolution of its stockholders dated
July 20, lb 98, to take effect Au gust 1, 1898.
2,613—The Citizens’ N ational Bank of K ansas City, Missouri, lias gone
iuto voluntary liquidation by resolution o f Its stockholders
dated J uly 2 8 ,18u8.
4,010—The First N ational Bank of H annibal, Missouri, has gone into
voluntary liquidation by resolution of its stockholders dated
A u gust 11,1898, to take effect A ugust 13, 1898-.
4,816—The Central National Bank of Milwaukee, Wisconsin, has gone
into voluntary liquidation by resolution of its stockholders
dated A u gust 17, 1898, to take effect on that date.
1,61.6—The First National Bank of Rock Hill, South Carolina, has
gone into voluntary liquidation by resolution of its stock­
holders, dated July 29, 1898, taking effect A ugust 31, 1898.

I
E
W
.— The m llo w iug a n
the imports at New York for the week ending for dry s ooda
Sspt. 1 and for the week ending for general merchandise
Sept. 3 also totals si n e the beginning of the first week
The following shows the imports of cereal produce into in .Tanuarv.
f O S .I S S IM PORTS AT K 0W T O R E .
the United Kingdom during the first fifty-one weeks of
the season compared with previous seasons :
f o r wce.k,
1897
1895.
1898
1896.
m ro m

1897-8.
1896-7.
1895-6.
Imprrteof wbeat.owt.6i ,690.51 0 63,132,350 67.45s.010
B a r6 y ........................l!t,il26,10.1

Oats ........................... 14.919.900
P e a ........ ................... 2,338,415
B e a u s . . . . ................... 2.348,680
Indlnn corn.................52.403.700
F lour........................... 19.526.670

21.193,700
13.029,780
3.312,005
2,820.3*0
57,441.760
13.069.620

21,972.142
14.473.880
2.527,110
3,121,242
42.855.090
19,632,950

1894-6
77,273,646
25.003,914
16,357,917
2,302.159

4.275,162

26,258,484
18,866,350

Supplies available for consumption {exclusive of stocks on
September 1):

1397-8.
1896-7.
1895-6.
1894-5.
Wheat imported, owt.O l.03n r»U) 63*132,350 07.458,010 77.273.64G
Im ports of flour........19,526,670 19,609.020 19,032,950 18,800*^50
Saiea of hom e-grown.23.423,553 24.907,592 15,390,031 20,887,723
T o ta l____............ 107,581,733 107,709,562 102,490,041 117,027,719

m ports a n d

yry

xports

for th e

eek

go o d s--...
ten'l mer’dlet'

SU ,789,787
5,429,032

T o t a l........
1.
Ory goods......
ftfinM mer'dlae

*7,218,819

6,549,400

¥64,231.787
226.772,335

395,012,572
257,961,118

Sinte Ja n .

$1,007,199
5,542,201

$2,086,459
4,943,794

*2,865,602
5,939,622

*7,030,253

53,808,124

$79,775,936 1101,131,566
230,579,971 248,947,771

Total 30 weeks $1291.004,122 $352,973,690 $310,355.907 *350,079,337

The imports of dry goods for one week later will be found
ia our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
*eek ending Sept. 5 and from January 1 to date:

THE CHRONICLE.

^ S eptember 10 1898, J

EXPORTS FROM N E W Y O R K FOR TH E W E E K .

banks.

1898.
For the w eek..
Prev. reported

1897.

1896.

1895.

55,947.016
319,626,375

$6,003,983
269,600,690

$6.0a6,f07
243,773,236

$6,907,532
219,114,362

Total 85 weeks $325,573,391 $275,604,673 $254,859,843 $226,021,954

nT y

".*"
Aug. 13..
»
20.
“ 27Sept. 3.
Bos.*
Aug. 20..

513

Capital A
Surplus. L 0€M,
$
134.315.0
134.315.0
134.315.0
134.315.0

“ 27.

Specie.

$
659,i 11,2
666,743,4
672.091.8
672.173.9

$
166*244
1645732
1559687
1483783

Legale, Deposits.+ Oirc’Vn.
$
$
9
57.076.1 760,754,6 14,231,1

$

778.612,7
55,519,5 765.013.8 14,202,0 843,316.5
55.433.2 760,234,4 14,123,3 762.047,0
54.710.2 752.389.8 14,048,5 838,054,

08.587.3 182.473.0 14 890,0
68.587.3 184.471.0 15.540.0
68.587.3 187.092.0 10.767.0

5.041.0 193.864.0
4.943.0 193.720.0
4.672.0 196.176.0

6.019.0 95,440,
6.119.0 95,069,
0,192,0 95,197,

Phtla.
The following „a,„ie shows the exports and imports oi A ug. 20..*
40.256.0
132.257.0 5.894.0 63 582.
35.388.0 118.477.0
specie at the port of New York for the week ending Sept. 3 Sept.27- 35.388.0 118.361.0 41.287.0 134.628.0 5.891.0 69,894,
“
135.359.0 5.928.0 69,750,
39.471.0
3.. 35.388.0 120.196.0
and since January 1, 1893, and for the corresponding periods
in 1897 and 1896.'
Reports of Non-Member Ranks.—The following is the
statement of condition of the non-member banks for the
EXPORTS AND IM PORTS O P SPECIE A T N E W T O R S .
week ending Sept. 3, based on averages of the daily results
Im ports.
Export*.
We omit two ciphers (00) in all cases.
Bold.
Sept. 3.

Week.

Week. [Since J a n .l .

$200

Since J a n . 1,

103,757
20,292

$632,913 $36,091,935
482.500 13 581,489
96,500 20,359,881
9,079
2,615,310
12,568
76,642
425
362,665
546,235

$1,246,920 $6,54 8,OP 0
......... ] 29,632,077
7.300 50,941,242

$1,283,985 $73:634,157
31,078
3,9 /1,370
26,204.303

Great BritaiD........
F rance...................

8,000

G e r m a n y ................ .

6,415,841

$1,246,920

West In d ie s ..........
M e x ic o .................
South Am erica___
AH other conn tries
Total 1898...... .
Total 1897...... .

Total 1K96....... .

Silver.

Exports.

Since J a n . 1.1

Week.

4.792.868

Im ports.
Week. SinceJan . 1

Great Britain.........
Fran ce...... .............
G erm a n y ...............
West Indies............
M e x ic o ...................
South Am erica......
A ll other countries

$1,141,715 $29,244,326
2,610
397,315
14,159
187,028
7,055

$2,494
109.414
15,012
3,412

$12,092
23,932
3,260
263,496
7-2,273
560,904
64,446

Total 1898........
Total 1897........
Total 1896........

$1,142,215 $30,630,843
766,4.9 32.010,917
991.550 35.748.786

$130,332
54,130
91,423

$1,710,403
1,957,613
2.081.062

7 7 8 .3 5 0

" ‘ *500

Of the above imports for the week in 189S $6,923 were
American gold coin and $7^0 American silver coin. Of the
exports daring the same time $4,830 were American gold
coin and $500 were American silver coin.
New York City Clearing House Banks.—Statement of
conlition for the week ending September 3, based on average?
ot daily results. We omit two ciphers (00) in all cases.
Ban k s.

O a p ita t

S u r p l’i

8 > n k o fN e w Y o rk ..
Manhattan C o ..........
Merchant#’ ..............
M ech a n ics'.............
A m e r ic a ...................
P h eu lx .....................
C it y .........................
Tradesm en’ s ............
C h em ica l..................
M erchants’ E x ch ’ gt
G a llit m ....................
Butchers’ A D ro v ’ rs
M echaolcs’ A T ra d ’ s
G reen w ich ...............
Leather M a n u facrs
S ev e n th ...................
S tate o f N e w Y o rk ..
A m erican Kxcb&ng*
C o m m erce...............
B roadw ay.................
M erc a n tile ..............
P a c ific ......................
R e p u b lic ..................
Chatham.......... ......
People’ s..................
N o rth A m e ric a ___ _
H a n o v e r ..................
l i v i n g .......................
Citizens’ ...................
N a ss a u ....................
M arket & Fu lton ..
Shoe A Lea th er___
Corn E x ch an ge---Con: in en cal..............
O r lm t a l...................
Im porters’ A T ra d ’ r*
P a r k .........................
East R iv e r ...............
F o n H h .....................
C e n tra l.....................
S econ d.....................
N in t h ................. ...
F ir*t ........................
N. Y . Nat.’ i E x ch ’ ge
B o w e rr......... .........
N e w York C ou nty.
German A m erican..
Ohae#......... ..... .......
Fifth A ven u e.........
German Exchange.
G erm ania...............
Lincoln .. ...... ........
Oartleid . ................
Fifth ..........................
Bank o f the Matron
Went Hide........ .......
Senhoard......... . ..
S ixth .........................
W e s te rn ..........
P lr »t N at. B 'liiy n ..
N at. Union Bank..
LI n o r tv ..........
N . Y. Prod. E xch ’ ge
Rk.of N . Am sterdam

$2,000.0
2,050,0
2.000.C
2,000,0
1,500,0
1,000,0
1,000,0
750,C
300,0
000,0
1,000.0
300,0
400,0
200,0
000,0
300.0
1,200,0
6,000,0
5,000.0
1,000,0
1,000.0
422.7
1,500,0
450,0
200,0
700,0
1,000.0
500,6
600,(1
500,0
900,0
1,000,0
1,000,0
1,000,0
300.0
1,500,0
2.000,0
250,0
3,200.0
1,000,0
300.G
750.0
500.0
300,0
250.0
2OO.0
750,0
1,00(1,0
100.0
200,0
200.0
300.0
200,0
200.0
300,0
200.r
500,0
200.0
2,100,l»
300,0
1,200,0
500,0
1,000.0
250.(1

$1,841,7
2,215,2
1,037,7
1,959,8
2,503.2
220,3
4,119,4
130,7
7.001,4
176,1
1,702,1
120,2
170,0
171,0
476,9
109,3
506,1
2,527,3
3,404,1
1,609.2
988.0
475,1
808,7
978,5
252.5
559.3
2,238,7
357,1
370,3
267,9
957,2
161,2
l , 330,0
600.0
397.4
5,501,5
3.204.S
147,7
2,016,1
495.8
711,0
28 i.l
7.504,4
67,1
611,2
443.0
298.1
1,110,0
1,102.5
570 *
748,3
71 1,9
848,4
323.1
85<l.5
340.4
34 8.0
••US.3
721,7
937.7
934,0
329,0
353,5

L oa n *.

S p e c ie .

$14,200,0 $ 0 50,0
10.375.1! 0 055,0
13.574,2 2.900,0
10,100,0 1.980.0
20,221,3 4 200,4
4.149,0
812,0
78,175,3 21,178,4
3,122,5
470.1
24,736.1 5,762.7
4.907,5 1,092.2
7,202,2 1,110,8
1,025,9
290.9
1,900,0
232,0
903,2
101,1
4,005,3 1,002.7
389,0
1,770.0
448,3
3,980,8
20,199,0 3,101,0
28,717,5 2,271,4
0.972,1 1.870.0
10.807,5 2,258.5
2,303,2
745,2
16,3i>2 9 4,390,8
0.090,7
788.8
1.950,3
238.4
I0.B70.9 2,027,7
35.8 19,3 3,706,1
3,503,0
701.9
2.555,0
553,3
2,580,9
375,2
5.959.6 1.284,9
3,198 9
630.3
9.04 4,6 1,527,2
5,v»03,9 1,301.2
1.855,0
U7 0
24,613,0 5,657.0
37,354.0 13.570.0
1,33.1,7
257,0.
24,508,7 4,083.3
10.725,0 3,009,0
5,859,0 1,351.0 j
3,203.9
677,5|
30,5 Ho. ■ 0,120.1
»
1,310.0
2 00,01
2.>-44,«»
449. Oj
3,241,1
583 4i
2,959,3
30,28ft, o 0.360,5i
7,832,4 1,425.2
2,101.1
104,5'
•.341, S
551,06.M4.U 1.421,0
5,215,0 1.421,71
1,870.0
391.;
4.858.0 1,388.3
2.148,0
280,01
8,34 7,0 1.134,0]
1.784.0
274.0;
29,4 85,5 6.411,1
4.312,0 1,437,0
12.128,6 2.591.9
4,123,0 1.08e, i
893.9
<1.188.1
3.028,0
033,3
298,4

Total.................. 69 022.7 75.292.3 072,173.9 1483783

Leyais. Deposits.
$ 1 000.0
,

$14,710,0
20.784.0
1.130,3, 10,018.5
$99.0
9.653.0
1,856.7 23.410.2
277.0
4.117.0
3.034.4 96.990.2
211.0
2,81*1 9
2.540.6 26.155.0
288.11 5.540.0
644.9
5.889.2
4».H
1.181.0
222, M
2.003.0
233.6
888.0
210.6 4.120.1
140.9
2.141.2
152.4
3.139.5
2.630.0 21,253 0
3.336.7 21 990.5
145 7 6.937.7
717.6 11.850.4
388.6
3,026 5
542.1 18.779.9
862.3
6.141.9
428.4
2.530.2
74 4.7 12.170.7
1,890.3; 44.597.9
437 4 3.938.0
104.8
2.714.1
849.6
3,074 a
538 9 0.410.0
|
373 51
10.804.5
6.812.2
343.2
1.782 0
765.0 24,e04,0
2.710.0 49.374.0
117.0
1.298.5
2.588 9 20,2*1,0
376.0 14.589.0
0.743,0
3.41*4, *
1.141.5 30 451.7
93.0
1.249.9
3.420.0

1.351.0

1.085.0 9 f05 l
515.11

875.0
252.2
5«6.1

291.7
817,3;

4.2*2.L
892.5
693.4
525.8
786.7

320.4
182.8
388 Hi
3*0.01

1.501.0
144.0
2,0? 3.4

3.012.H

2.784.7

$8,391,7
8.902 0

510 8,
304.H
131.0
197.1

N et
D tp o s its .

Sur­
plus.

$
250,0
100,0
300,0
100,0
100,0
200,0
200,0
200,0
500,0
100,0
200,0
250,0
200,0
100,0
100.0
100,0
100,0
200,0
100,0
200,0
100,0
Aator N a t’ l B an k.. 300,0
Br o o k l y n .
150,0
100,0
300.0
100.0
100.0
200,0
150,0
252,0
500,0
100.0
300.0
300,0
100.0
People’s................. 100,0
100,0
100,0
100,0
Sprague N a tio n a l.. 200.0
100,0
100,0
W allabou t.............. 100,0

$
355,5
60,7
183,9
117,2
50,8
0,0
31,5
81,2
157,0
83,7
189,7
91,6
111,1
25,0
108,9
102,5
73,0
140,0
48,7
296.1
123,1
4,2

$
$
2,312,8 153,0
705,0
14,0
1,705,0 101,0
1,117.3
43,4
674,1
17,7
460,0
80,0
641,2
28,2
1,243,0
53,8
2,070,9 290,6
419.7
90,7
1,114,0
32,0
1,298,4
70,3
20,4
917,1
628,7
16,8
911,7
39,5
692,3
7,4
1,401,0
51,0
1,227,4
15,6
7u2,5
2*>.o
1,908,0
67,ti
1,075,6 127,0
1,004,2 255,0

$
$
177,4 155,0
S*i,9
211,0 244,0
427.9
__
_
180.4
130.0
26.7
64.3
79,2
189,8
102,3
44,4
95,0
93,1 200,0
164,3
1,8
93,8
9
269,8
65,2
52,0 120,0
102.0
95,0
43,0 103,3
155.0
81.0 104,0
137,0
....

$
2,412,1
771,7
1,944,0
1,530,0
857,2
480.0
562, 9
1,286,4
1,595,3
596.2
1,032,0
1,088,5
935,5
774,7
1,090,8
648,4
1,738,0
1,421.0
913,9
2,213.3
1,231,4
1,790,9

107,2
112.0
157,0
33.4
50,9
171.7
59,1
414,4
387,5
191,0
550,7
540,7
109.8
108,5
123,5
59,9
71,2
2 0 \4
50,0
48.1
29,5

92.0
1,012,0
57,5
31,0
85,0
1,322,0
22.0 137.3 251-1
1,241,8
70.7
33.0 243,6
37,1
290,2
49.7
14,2
20,3
10.0
504,8
2.1,0
21.8
42,7
27,9
832,9
58,3
32.9 139,0
93,5
580,0
35,9
26,3
2,00 \9 242.8 252.9 285,5
2.4 02.6
99,7 133,0
93,3
819,6
61,2 141,7
05,0
40.8
3,790,0 217.0 202,0 478,0
70,0
2,189,0 199,0 317,0 310,0
77,0
058.4
11.2
61.2
99,1 592.0
7*0,2
64,5
42.7
32,2
40,5
1,769,0 107,0 127.2 324,5 219,4
500,6
21,8
19,8 103,0
9,7
403.5
94,3
32.3
1,018,5 109.1
13.0 400,0
14,0
359,0
89.9
0.0
21,1
9,0
208.0
27,9
12,3
35.0
6.1
81,4 201,0
458,3
36.7
U ,1

1,103,8
1,575,4
1,328,4
250,3
409,5
747,1
558,0
2.357.9
2,288,9
914.0
4.035,0
2,015,0
1.231,2
847,0
2,383,2
493.0
369,0
1,100,0
388.1
239.1
052,2

N e w Y o r k Ci t y .

$
26,8
45,2
106,0
59,5
82,2
40.0
39.7
71.0
59,9
52,2
73,0
119,9
124.0
70,4
72.8
30,3
25,0
65,4
70,6
184,0
53,7
264.3

O t h e r Ci t i e s .
400,0 705,1
250,0 52<».0
250,0 3 70,2
id N a t , Jer. C ity .. 200,0 185,5
110,0 414.3
125.0
81,3
25,0
44,1
70,7
i st Nat.,S taten Is ll 100,0

4,371.8
1,886.9
1,456,8
810,0
1,590,7
641,4
41*2,1
557,8

149,0
95.7
t 0 ,4
25.4
116.5
40.4
30.0
20.7

197,0
59.1
54.9
00,5
29.4
27.0
28.3
30,0

431,0
182,4
421,7
152,8
104,0
00,9
118,5
106,5

10683 5,983,6
115,3 1,067,2
1,453,1
133,4
918,7
108,1 1,453,0
193,8
792,2
9
525,0
559,8
—

T o ta ls Sept. 3... Q ,ora,G 8 , 4 1 8 5 6 0 ,0 0 2 ,1 3 -5 3 1 ,8 3 ,8 4 4 .3 8 . 13 8 .0 4 , 0 6 3 ,7 6 6 ,8 7 1 ,
>
T o tals A u g. 27... 0 ,0 1 2 ,0 8 ,4 3 8 5 f 0 ,6 8 6 ,0 3 ,7 0 3 0 3 ^ 6 7 ,4 8 .6j s ,2 4 ,100,0 6 7 , 1 2 0 , <
Totals A u v. 20... 0 ,0 1 2 .0 8 .438.5 SQ 531*5 5 .0 7 4 .4 '3 .0 0 7 ,5 Q . H 5 J 4 ,2 2 1 ,4 6 7 ,3 4 6 , 7

Auction Sales.—Among otner securities tne following, no
regularly dealt in at the Board, were recently sold at auction.
By Messrs. R. V. Harnett & Co:
Shares.

Bonds. •

j
125 Loulav. Evan*. A 8t. L.
Con. RR. P re f___ $10 per lot I
160 Loulav. Evaua. A St. L.
RR. Coca...... $6 per lot I
100 Tol. Ann Arbor A Nortu
Mich. R R ..................... 10 |

N, Y. Secur. A Trust Co.
Cert, of Dep. coveriug L,c25 Sh. Peoria
Dec. A Ev. Old Com.
first ass’c paid...oOc. p. sh.

Con.

By Messrs. Adrian H. Muller & Son :
Shares.

34 Kentucky Union Co.,'
o. ra.t $10 each and +5
do. Scrip.................... $160
6 Kentucky Union C
lot.
pref.. $10 each and $9
do. S c r ip ..................
136 B ’klyn Athenemn Co. .$60 lot
5 Snutii Brooklyn Saw Mill
C o ..................................100
a7 Yellow Pino Co., pref­
erred....................$232 50 lot
5 Brooklyu Base Ball <Hub.
$21 lot

2.910,3
4 309.4
7.821.2
6.331.8

Shares.

40 American Surety C o...... 160
100 Incandescent Petroleum
Light Co. of W est Va $10 lo t
100 Union Surety C o ___ $1,450 lot

Bo ds.

$12,000 Dallas A W aco RR.
1st Guar. 5s, 1940. M A N .. 81-l4
$3.0 JO Lexingt’n A East. Rv.
Co.Gen’l 5s, 1935 and $450
do Scrip
....................... 29
$2,000 Brooklyn A Brin liton
Beach RR. 5s, 1927. Septr,
1896, Coupons o n .............. 45

BauMug and fftmiucial.

2 . 200.2

5.832.5
2.341.0
10.228.0

1.541.0
31.845.0
1,20-.0
5 096.0
12.81 1.9

D e p o s it , w i t h
L e o 7.
Loansek
I n v e s t ­ S p e c ie . <k B 'k C le a r ’g O th e r
m e n ts .
N o t e s . A g e n t . B k s .& c

C a p i­
t a l.

BANKS.
(00s om itted.)

2 1 6c

5.073.5

Spencer Trask 8c Co.,
BANKERS,

39 P I!V E S T R E E T ,
65

-

State Street, A lbany.

NEW

YORK.

IN V E S T M E N T S E C U R IT IE S .

3.862.9
3.310 4

Georgs B arclay Moffat .

New Vork City, Boston nail Philadelphia Banks.—Below i
we farnish a summary of the weekly retarns of the Clearing- I
5i?a8w llan^s °f
York City. Boston and Phi'a lelphia, j
The New York figures do not include results for the uon- i N o . I
member banks.
I

A lexan der M. Wh ite , J r

Mo ffa t & W
BANKERS,

NASSAU HT a R ET,

.

.

.

hite,
V « W

IN V E S T M E N T S E C U R IT IE S

lf.x t® ,

THE CHRONICLE

511

[Yor. Lk VII,

buying la discount, selling par: Charleston buying 1-16 dis­
count, selling 116 premium: New Orleans, bank, $ 00 pre­
1
mium, commercial, psr; Chicago, 403. per $l,00o discount;
St. Louis, par.
D IV ID E N D S .
United States Bonds.—Sales of Government bonds at the
Books closed.
1 Cent.
For
Board include
8s (when issued), at 105 to 105W,
frame of Onmpany.
(Days inclusive.) $8,500 4s coup., $1,479,300127 to 1271q, and $1,000 4s teg., 1925
1925, at
at I27?j',
ttnflroudtt (Steam .)
Atlantia Coast.Line____ ______
Dhle. A K IlUnota, prof, (quar.). 2 * Dot 1 Sept, t J to Sept. 18 range see seventh pace fo Inn ing.
11 > Sept, 10 Sept. 1 to Sept , 10 The following are the daily closing quotations ; for yearly
Chicago Mllw. A St. Paul, twin... 2*a Oct. 21 8opt, 21 to Oot. 2
31 \
#
P r v f....................... . — ........ .
IJa u k c rs '

d a a e tte .

Street H (qnsr.i..............
UtuTalo Hallway allw ay s.
j 1 Sept,
Un. Trao. & Elec., Prov. (quar ). * Dot,
yilserllaneoua.(quar.).
Am. Sugar aKclln'g, com.
Prof (q u r .).................................. 3 \ OctCh. June. Hr.CableS(quar.)........... I 1^ ) Oet,
Conmxvelil A U V.A,pf.(qr.) 1* Oct
1Si net.
l
Mlnnr.ot* Iron (quar.).............. < Oct
New I'entrnl Coal........................ 2
~WH»haeli Light (qanr.) — ....... 20 Sent.

Sept. 6 to Sept.
15 Sept. 21 to Oot. 15
3

1

3 Sept. 15 to Oct. 3
Sept. 1 to Oet, 2
l1 Sept, xl8 to O e t 2
to
15 Sept 16 to Oct 16
3 -------—-----10 Sept 28 to Oct. 3

W A L L . * rttK K T . K l t l U A l ', SK I- (>. 0, l S » S . - . t P. M .

The Money Market and Financial Situation—A. review
of Stock Exchange transactions for the week indicates an
absence of the local demand for investment securities which
has been more or less conspicuous in Wall Street for some
time past. For an explanation of this fact one probably need
not go beyond the records of the Weather Bureau aud an anal­
ysis of the conditions now prevailing in the money market.
In regard to the latter, while loanable funds have up to the
present time been available for legitimate purposes at reason
able rates, there is, nevertheless, a feeling more or less widely
prevalent that these conditions may not continue, and that a
conservative policy is for the moment wise.
The principal event of the week affecting Stock Exchange
• slue* was the action of the St. Paul directors in declaring
a
per cent dividend on St. Paul common stock, it
was 'the signal for heavy selling of that stock which re­
sulted in a decline of nearly 5 points. This, too, indicates
that business has been largely in the hands of the speculative
element: for why should a legitimate owner of St. Paul shares
throw them over because the directors chose to adhere to a
conservative policy in the matter of a dividend f
The progress recently made with the Baltimore & Ohio
reorganization plan has’attracted attention, and one of the
features of the week was an advance of nearly 6 points in
Baltimore & Ohio shares.
The foreign exchange market is regarded with interest.
Rates for exchange have further declined and the gold
import movement is gradually increasing.
The open market rates for call loans on the Stock Exchange
during t he week on stock aud bond collaterals have ranged
fro m 2 to 4 per cent. To-day's rates on call were 2% to 4
per cent. Prime commercial paper quoted at 4 to 5 per cent.
The Bank of England weealv statement on Thursday
showed a decrease in bullion of £251,167, and the percentage
of reserve to liabilities was 49 00. against 48-30 last week: the
discount rate remains unchanged at per cent. The Bank
of France shows a decrease of 5,100,000 francs in gold and
1,725,0 )0 francs in silver.
The New York City Clearing-House banks in their state­
ment of Sept. 2 showed a decrease in the reserve held of $8,313.400 and a surplus over the required reserve of §14,991,050,
against $21,343 300 the previous week.

Interest Sept.
Periods. . 3'

2b...................... rev.
130,1918,I0-20s.op.
48, 1 * 0 7 ........... reg.
48, 19u7......... ooup.
48. 1925..........reg.
48, 1925___ ...coup.
5a, 1904 ........... reg.
5a, 1904......... ooup.
68, our’oy,*99.. .reg.
48, (Oher.1 1899 rec.

Q. -Moh.
Q .-F e b .
Q. - Jan.
Q. —Jan.
Q .-F e b .
Q .-F e b .
Q .-F e b .
Q .-F e b .
J. & J.
M arch.

Sept. ! Sept. Sept

sr

-N
9

o
E

J

e.

*
,
w
<

o
K

;
;

;

7.

* 98 1* 98
105
105
•109% '1 )0
m u * unhj
*l'2e% 127%
'126% 127%
■111% 0 1 2
*111% *112
■102 hi!* 102ia
*101 i*101

Sept.
9.

8

* 98
’O %
*110
*1 114}
* 127
*127
*112
*112
-102%
*

' 98%
105%
*110*4
*1111*
'127
127%
*112*4
*112H
*1024)
*101

'This Is the jriOH bid at the"when Issued" : no sale was made.
moraine hoard
lii1the D alines are In bonds of the Exchange.and represent transactions
Unlisted Department
State and Railroad Bonds.—Sales of State bonds at the
Board include $2,000 Tennessee settlement 3s at 93%, $7,030
L uisiana consol. 4s at 101 to 105. $37.0 '0 Virginia fund, debt
2 3s of 1991 at 75% to 70% aud $140,000 Virginia 6s deferred
trust receipts at 8% to 9.
On a volume of business averaging nearly $2,590,000 par
valne per day the market for railway bonds has been narrower
than of late auds >me what irregular. Tne investment demand
seems to have been limited and transactions were confined
largely to speculative issues. The action of the Atchison
directors in declaring a dividend of 4 per c-nt on the adjust­
ment bonds, which appears to be entirely warranted by the
earnings of the company, led to considerable activity and an
advance of a point or more in both the Atchison issues.
Colorado Midland 4s nave lost a part of the advance noted
last week. Erie general lien 4s, Texas & Pacific Sds and
Wabash debenture s<-ries B have declined from 1 to 2 points,
while Evansville & Terre Haute 5s, Bin Antouio & Aransas
Pass 4s and Wisconsin Central first trust receipts' made a
corresponding advance.
Stock and Bond Sales.—The following shows the volume
of business iu stocks aud bonds oa the New York Stock
Exchange for ,— Week ending Sep!. 9—- January1 1.to Sept. 9 ------>
the past week and since —Jan.
Sales
3 . F.
7

Slock Exch.

1898.

G ov ern m en t bonds *1,40 2,300
S tate bonds.............
l« 6 .0 0 0
R R . A m lsc.bonfls. 10,B-28,000
T o tal.................... * 1 2,6o7,800
Stocks—No. sh a re s 1,883,321
P ar v a lu e ,. ..$ I S 3 ,713.800
B ank shares, p ar val.
$1,500

1897.

1898.

1897.

*84,500 *1S ,1«6,S 50
* S ,7 I8 ,5 0 0
IMOO
2 ,(7 8 .7 0 0
1,140,800
17,263,000
567,6 00,510
8 5 7 ,(4 0 ,2 0 0
* 1 7,8 18,800 *582,^64,0 60 *307,011,590
2,728 ,826
7 2 ,1 7 3 ,o ? 9
47,479,909
$201,919 650 $ 6 ,9 8 5 ,OU6.825 $4,53 3,009,400
§ 2 ,5 0 0
$131,000
$229*010

We add the following record of the transactions for each
day of eatiing ,---------- Stock# ---------- a R ailroad, &c. Slate U. S.
the week.
Week
Sept. 9,1898, Shares. P a r value.

Ronds.

Bonds.

Bonds.

.H O L ID A Y . . . . . . . . . . . ..............
S a tu rd a y .'........................................
M onday.......... ........................................... .................H O L ID A Y ....................................................
T uesd ay ................... 301,8 48 $29,4 75,300 $2,114.1-00 $7 7 ,5 ^0 §360,500
W ednesd ay ............. 4 1 I J 4 0
40,30 2,250
2,754 ,000
82.000 414,500
T h u rsd a y ................. 502,4 93
5 8,30 1,000
2,51 8 .5 0 0
20,500 357,640
F rid ay ....................... 577.8 40
5 5 ,5 4 5 2 3 0
8,54 2 .6 0 0
359,600
T o ta l..................1,083,821 $183,713,800 $10,929 0UO $ 186.000 $1,49 2,300

1898. Diffcrerisfr’m Se.pt 4
1896.
1897.
'The sales on the Boston and Philadelphia Exchanges for
Prev. week.
Sept. 5
the week ending Sept. 9, 1893, have been as follows :
---------- »
—
$
$
$
$
Bond
Capital................. 59.022." 03 .............. 59.022.700 60,622,700
8nrpluB............... 75.292.30 > .............. 74.363.900 73,2*>4,000
................. H O L1D A ...........
Loans & diBo’nta.
ruo. 74,800 569,291.2 »0
13.954.700 17,979,500 M
Ciruulatlnn......... 672 . 173,900i Deo. 82,100 641.759,400 453 07O.1U0 T uoensddaayy........................ 4,046 $1 nn.Suo
$10,0 00
14,
8,930
....‘53,a
Net clepositB....... 75 ’. - .r oH) Deo 7,814,600 92.423,400 447,071.800 W edte'sd’y .^ L lO'61 31,320 127.475
. )
81,920
14,235
7.*88
8pecie ... ____ 14S.378.3 De«.7,590,400 102,130.00 41.196,9 0 T h u rsd a y ... 2 2,130 22,566
184,460
17,-400
70,600
8.257
Legal tendere__ 51,710,200 .Deo. 723,000
58,000
88.32 3
25.412
9.812
70,7 9.600 F n d a y ,..,..2 0 ,0 0 0 13,000
Kepe 'v© held.__ 203 088,50o! Deo.S,313.400 191,554 0 >0 449.996 500 T o ta l.... 100,150 74,531 864,375
373,7 08
71,200 29,687
Legal reserve__ 18 *,097,450. Deo. 1.961,150 160.439,8 j 0 411,767,951
Railroad and Miscellaneous Stocks.—Such changes as
Snrplnw reserve 44.991.0501 Deo 6,352,250 34,lH,15o| 8,22-1,550 occurred in the stock market over the holiday period were
Sept. 2.

L is te d
s h a re s .

B o s to n .
U n lis te d
sh a res.

B ond
s a le s .

L is te d
s h a re s .
V

P / iila d e ip h ia .
U n lis te d
s h a re s .
s a le s .

1 4 0 4 8

3 1 9 8 0 1

generally to a higher level. The upward movement was led
by Baltimore & Ohio, which sold on Tuesday at 5% points
above the closing price on Friday. At tbs same time Den­
ver & Rio Grande preferred showed a giiu of £% points aud
Reading first preferred a gain of 2 points. Wednesday’s
market was somewhat ea-isr. On Thursday firmness was
the feature, aud in several cases ths highest qu tatims of
the week were male until near the close, when the S'.. Paul
dividend was announce 1 as noted above. This was immedi­
ately followed by a decline of nearly (i points in that stock.
la sympathy with this movemsnr, Rock fslaai dsciiasd 3
points, Burlington & Q liacy and Northern Pacifi; preferred
2 p >iDts and North West. Illinois Central. L misville &N ishville, Uuion Pac fie preferred and Northern Pacific 1%
points. Manhattan Elevated has continued a. weak feature
and Metropolitan Street Railway was erratic, ft lctuating
S ixty day*.
Sept. 9.
Dem and.
over a range of S points. The market was iiregular to-day.
A f t e r a firm opening and some advance it developed weak­
Prim© bankers* sterling bUla on London, t 83% ® 4 8 4
4 85% t 86
4 31 ^ * 4 82
ness and closed heavy, with quotations generally' below the
4 81H3>4 81%
5 2 3 i**2 2 7 M 5 213,0^2134 lowest recorded yesterday.
j
Paris banker©' (fra n c s),.......................
Some of tas active stocks on ths miscellaneous list have
40 ®40l in
Amsterdam (guilders) bankerfl...............
40 S #4'
tf.
F rankfort or P.remen (relelnuarks) b'kers 945
been notably weak, including American Sugar, American
The following were the rates of domestic exchange on Tobacco. Iaterna'ional Paper, Mianeso-a Iron and Illinois
New York at the under-mentioned cities to-day: Savannah, Steel, which declined from 3 to nearly 10 points. >

The Clearing-House, on Cot. 30, 1897, also began issuing
weekly returns showing the condition of the non-member
banks which clear through the Clearing-House institutions.
The statement in full for the latest week will be found on
a preceding page.
For. ign Exchange.—The foreign exchange market has
continued weak and rates have furt itr declined.
To d .y’s actual rates of exchange were as follows: Bank­
ers’sixty days’sterling, 4 82}<f®483}£: demand, 4 84'^@4 H4V£;
cables. 4 S4Y @ 85; prime commercial, sixty days. 4 81%
1
4 82; documentary commercial, sixty days, 4 81%@4 81%;
grain for payment, 4 81 %@4 82; cotton for payment, 4 81%
@4 81% ; cotton for acceptance, 4 81%®4 82.
P.rd-d rates of leading bankers follow:

]
THE CHRONICLE.—STOCK PRICES (2 pages) P age 1.
5 [5
New York Stock Exchange—A Daily, Weekly and Yearly Record,

Sept . 10. 1898

TOO C S - H IG H EST i VO .O W E ST S i L E PRIO ES.
S a tu rd a y , M onday , Tuesday, Wednesday Thursday , F rid a y ,
Sept 7. Sept. S. Sept. 9
Stpi. 3. eept. 5. sept. 6.
8

*180
•LI
§35
18%
36
30
•5 *
*105
*25
63 $
$
31%
75%
•75
•87*
53*

13*
36*
33*
6*
LO
S
27
65*
32
76

*90
23*
21*
•158

90*
24*
24

12*

3o

88*
53*

•180
•11
•30
13*
36
33
5*
•100
•25$$
62*
32$$
78*
•75
8s *
53%
91
23*
24*
1158

*180 220
*11
12
•35
309
•13* 18*
354$ 3h%
324$ 33^
5%
5%
*105 108
•2 > $ 26%
$
02% 04
33
34
7 6 * 70*
•75
......
90
894$ 803*
53*
53% 53%

12
37
13%
364$
34*
3*
.08
26%
0141
34
13*

92%
23*
24

91 $ 91%
$
224$ 23
23% 2 14
3
160 100
•170 .......
115%117%
54$$ 55%
107 107
15* 16*
•71
74
40% 41
•274$ 28$$
8*
8*
•33
30
ltn$$ 115
L57% 157%
133 134%

'180
1
1
•35
13$$
34*
41
a*
*105
*25
02%
•32*
174*
•75
•86 *
53

320
11
30s,
13v,
30
429,
0%
.08
26*
64*
35
74*

N.

Y.

STOCKS.
STOCK E X C H .

R a ilr o a d Sto ck *.
4 lbany & Susquehanna.
^ u n Arbor...................
Do
pref
Uch. Topeka & Santa Fe
Do
pr°‘
J^alt.&0.,tr.rpc 2 1 ins.pd
<
l >alt. & D. Southw., pre.
Rost. A N. Y. Air L.. pref
Brooklyn Elevat., tr. rec.
Brooklyn Rapid Transit..
Buffalo Roch. A Fittsburw
Do
pref

87% Canadian Pacific...........
53* v^auada Southern........

90
91 Central of New Jersey....
21% 22% Central Pacific................
23
23* Chesapeake A Ohio.........
160

Sales Range fo r year 1898. Range fo r previ­
o f the On basis o f roo-sh*re /nt ous year fl8 9 7 j.
Week.
Share.- Lowest. Hig/iesi. Lowest. Highest.
-i

*183 Jan • 180 Feb : 170 Feb 177*Ap
■
10
11 Apr 2
15 Feb ♦
9 Jan. 15%Au§
2 34 Jan « 40$$Feh 7 22$$Apr 40 Aug
•
1,79. lO *A p r 2
14%Aug 1*
1
*
9%Apr 17 Sep.
43.6 7 22%Mar 12 37%Aug 2
7 17 Apr 35%Sep
52 7 i» Sl2%Jau 2
-' 42% Sep 8
9 J’iy 2l$$3ep,
52
5$$Jan 1‘ . 7%Feb
2 J’ue
9j$8ep*.
•IO -, Mar l 5105 Mar l 102 Mar 100 Oct.
25%Ai’g. l r 28$$Aug 2
.
8%Dec
8%OcL.
53,08
3o Mar l : 69%Aug 2-'
18)$J an. S7^Deo
1,02
25 Mar 1
2 34 Sep 7 10%Ma? 31 De©
41
02 May • 76%6ep ’ I 54*.J'ly 66%Deo
75 J’ly i
7,90c. 72 Apr 2 90%Jan 2
<
46%Mar 82 Dec
1,34; 44%Mar 12 57%Feb
44$$Jan. 62*Sep.

.i

l

8l« 86%Mar 20 98$$Jan 7
2,770 11 Apr 23 24$$Sep 6
0,7W5 17%Mar 26 26 Aug 1
7

08%May l03%Janv
7%Apr 18 Sep*
15*llar 2V*Ang

n 44 $ m i , Chicago Burl. & Quincy... 70,206 85%Mar 26 120 Aug 13 09%Jan.
1,804 49 Apr 19 00 J’ne 1 37%J’ne
54% 55 Chicago & East. Illinois...
1,233 102 Jan 7 113%Feb 1
10?% 107%
Do
pref
9%Feb 24 IS Aug 22
3%J’ne
H * 15* Chicago Great Western... 28,71'
....... 71$$J’ly 15 73$$Sep 2 71%Oct.
♦71
73
Do 4 p.c. debentures.
•40
43
Do 5 p.c. pref. “ A ” ..
8u< 28 Mar 15 42*Aug 22 3l%Aug
•2 7* 30
Do 4 p.c. pref. “ B ” ..
20 Apr 2
1 30* Aug 16 19 Aug
233
•8
9 Chic. Indianap. A Loulsv.
7 Feb 24 11 J’ly 27
8 Oct.
•30
19“ 23 Apr 16 38%J’ly 27 26 Nov
)
35
Do
pref
108* 111* Chicago Milw. A St. Paul.. 304,8 7 83%Apr 2 115 Sep 8 69%Apr
1
340 140 Apr 25 159 Aug 18 130%May
1 5 ; 157
Do
pref
5,585 !13%Mar 12 130%Aug 23 10 l%Apr
131%133% Chicago A North Western.
2o
S175% 175%
175 Mar 7
104* 105
103$$ 105$$ 102% 105$$ 102$$ 103% Chicago Rock Isl. A Pac.. 00,481 80 Mar 25 108%J’ne 1 60%Apr
2,708 05 Mar 12 87 Aug 17 47 Jan.
$83
83
82
84
83* 84
81* 8<* Chic. St, P. Minn. A Om...
•155 102 •155 105 •155 105 •150 103
Do
pref
1148 Jan 5 5105 Aug 17 133%Jan.
20..
8$$ 8$$ •7
•7
s$$
•7
84
4
8%
4%Jan 3
9$$Mar 3
3,810 22%Jar 8 37% Aug 29
33
34
34% 33$$ 83% 33% 34
31
42 Clev. Cin. Chic. A St. L ....
4,490 25 Mar
42
43
41
42
47%Aug 10 21%J’ne
42*
414$ 42
03 J’ne
10,255 ll% M ar 20 19%Jan 12
1 5 % 10$$ 15$$ 10$$ 15% 10
15
154$
5 0 * 53*
50
7,810 45 'May 2 53%sep 8 39 Nov
soii 52 '
51*
Do
pref
51* 51*
*169
•109
101 Apr
46
7%
8$ 5
$
7
7
8%Sep 6
5%J’ne 23
487 14 ' j ’ne 23 18%SeD 2
17% 17% 169$ 17
10
10
0 Col. Hocking Val. A Tol...
30o
0
06
•0
0%
4%J’ly 30
8%Feb 10
0
0
l%Apr
•53
•
24
24
23 • ....... 24 •
5"* 103 J’ly 10 114%Feb 3 99%Apr
1107*4 107* 1 107 107* 107% 107% 107*107* T^elaware A Hudson.....
•.......151% 1150 150
130
151 151
159 Feb 5
14% 15$$ 15$$ 15*
2,9 *0 10 Apr 20 l5%Sep 7
15* 15* •14* 15* Denver A Rio Grande.....
9*A p r
15,938 40 Apr 21 58%Sep 6 80 Apr
50% 57% 05
56*
Do
pref
55* 584$ 56* 58
•16% 18
800
17
•16* i t * Des Moines A Ft, Dodge..
17
8%Apr 21 20 J’ne 10
7 Apr
1 « * 17
•60
•80 ....... •80
•7
8%Aug 23
5 Apr 4
8*
•7
8*
5 Dec
•8 *
8 * Dul. So. 8hore A At],pref
8*
•»«
*2 4 11 Apr 21 10% Feb 4 l l * A p r
*5
13* 18% U rle ..............................
14% •14
14%
145* 14* •14
34* L i Do
37* 38
80
1,870 29%Apr 22 43% Feb 11 27 Apr
1st pref
37% 37% 3 7 * 87*
• IS * 19* •18* 19
Do
2d pref
15%Apr 22 21% Feb 1
•18* 19* •18* 10%
1 15%May
02O 22 May 9 30 Sep 7 20 J’ne
25
25
29
20 Evansv. A Terre Haute ..
•29
30
29$$ 30
05
07
07
1,740 40 Jan 18 08 Sep 8 28 Aug
05
65
00
08
Do
pr«f.
00
15 Aug 22
................
25 Ft. W. A Den. C.,stamped
•23
25
•23
•23
•23
25
25
21 Feb 8 28 Mar 5
7%J’ly
•13
15
•13
15 Ft. Worth A Rio Grande..
•13* 15
•10% 15
10 May 19 16%Jan 31 12 Nov
Teat Northern, pref___
•130 138
137 137% 130% 130% 134 130
1,155 ♦122 J’ly 1 180 J’ne 30 120 Jan

110*$ 117%
5 8 * 59
107 L07
10
104$
*70
74
40
41
•28* 30
•8
9
§29
29
112$$ 113%
•
157$$
134 134*

H

110$$ 1174$
56
57
107
L07
157* 16*
♦71
74
40
414$
•28* 30
•8
9
83
33
112% 114*
1156$$ 150%
133* 134*

102*8ep.
01 8ep.
20*Ang
75 Deo
43 Sep.
83$$Sep.
13 An*
38%Sep,
102 Sep.
140 8epw
132%8e]r
97%8ei
89%Sep.
150$$Dee

12

H
O
£
o
>

a
o

>

41%Sep
80%8ep
49%Deo
168%Sep
18 Jai
123 Sep
104 Aug
14*Aag
50$$Aug
14*J'ly
50$$Aus
10%Aug
19 Sep
40%Sep
25%Aug
34 Sep
48 Sep

I

114 115
113
•96 100
•00
•9 *
9*
*9 *
35
35
347*
a*
•5%
•5 *
18* l a *
18*
•4
5
•4
*15
17
•15
•29
32
•20
•3
9*
•3
•17
19
•17
•75
76*
74*
•192$$
•193

114%
100
9*
31*
6%
19
5
17
32
9$
4
19
75

•52
50
•50
58
579$ 58*
57* 56*
909$ 97*
954$ 9tS*
1529$ 15394 153 153%
•5M
0%
0
*54$
1
1
•*
•%
•107 108$$ 107% 107U
27* 27* •27
28
190
90* •89* 90$$
60* 60*
00
60
•0
•6
•12
12$$ •13$$ 12$$
35
85*
344$ 35
3.7* 30
35* 36
•28
30
*28
80
•170% 175 •170$$ 175

1 1 2 *1 1 3 * 112
•00 100
•96
9*
9*
9*
•33%
34
34
•5$$
*5 *
6*
•IS *
•18% 10
•4
•4
5
•13% 17
•15*
•29
•29
32
•3
•8
9*
18
18
18
74% 75
74
1193 103 •193
57% 584$
954$ 97%
151%158
•5%
6
•%
l
1100% 100$$
•26% 28
•80
91
•59% 01
•0 .......
112
12
34% 84%
344 35%
$
28
28
175 175

•50
57
95*
156%
•5%
•%

113
100
«*
35
6*
19
5
17
32
9*
18
74

•15
§54%
39
79

10
54*
39*
79*

•15
54$$
38%
78

53
*70

58
70

125 124
195 •193 105
194 194
10V$ 15% 10% 15* 10

♦58
76

10%
544$
89 H
79$$

54 " 54%
88
30%
76% 78>$

•14%
524$
37%
76%

Do

(G ives

10%
ll% A or 21 17 Feb
53
Do
pref.
3.035 42% Mar 12 56%Feb
$
19 Feb 24 41$ Aug
38* Nor. Pac. Ry., vot. tr. otfs. 8L57
77*
Do
pref. 89,322 56%Mar 12 ?9*8ep
7 Mar 5
57
r. RR. A N.Co. vot.tr.cfs.
450 35$$Jan 7 01%Aug
76
Do pref., vot, t.r. ct.f*
0G9| 05%Mar 29 77%Aug

St

t

Ex dividend and rights.

Ha-See

a-See

A“k. 1
Bid
I5u 10U
100% 103%
Exch 1ist.
170 195
5115% 110%
100% 102%
348 355
108
800
01
115% 117%
98 1"0
Exon 1lrtt.

B'4.
Street H i l l 'v
Vletropolitau —
Ninth Avenue—Stock___ 17U
Second Avenue—Stock... 178
1st mort 5h 1909.. MAN «107
Debenture 5s 1909.JAI $105
C msol. 5a, 1948 ..PAA 115
Sixth Avenue—Stock..... 200
So For 1st 5a 1919.. AA< >4113%
Third Avenue—
8tock Kxon
1st mort 5a 1937...JAI 124
28th A2»thSts 1st 5a..'»« 4110
Twenty-Third Sb—Stock 330
Deb 5s 1906..........IA-1 108

S»e

91%Apr H0%Aug
88 Jan 97 Aug
0 Apr 13%Sep
28 J’ne 41%Sep
«*A u g
4 J’ne
17%Deo 29*Sep

14 12 Mar 28*Jan
3
1 32 Feb 36%Oct
2 Aug
1 Aug
10
22 13 May 22%8ep
19 58%Apr 79%8ep
4 152 Jan 181 Sep

7
7
26
6
22
31

c
,3 Dec
40$$Apr 63%8ep
81% M ayllS Sep
99%Oct 133% Dec
9%J’ly
2% Aug
1 Nov
lll% 3ep
10 May 31%Sep
77%Mar 90 Sep
46 Feb 62%8ep
0 Dec
10 Apr 10%Sep
24%Apr 42 Sep
10 May 40%Sep
18 J’ne 32 An*
102%J’ne 173%Det
85 oep
92%Feb 115%Sep
11 Feb 17*8ep
67%Apr 81%Sep
24 Feb 43%Sep
295 Feb 325 De«
119 Jan 122 Mar
160 Feb !85%Sep
12*Apr 20v$Sep
22%May
11 Apr
32$$Jan
5%Nov
10 Apr
37%Jau

t Before payment of assessment.

at foot of 7 consecutive pages).— STREET

II g II if u p ,
f Rid. Ank. 1 S i
II w i
NBVV 70UK I11TY. 1
Chnst’p r i>»tu at-isu/oit
Bleeek St * Pal P -St/.ck 1 32
31
1st mort 1898......A A ')
lit mart 7» laoo .. JA.|| 1o 1 104
ColA 9th A ve
Stock
« way 7th Ave—Stock | 210% 22 5
D D K B A Batt’y—Stock
lit mort 5s l904...,J*tDi}l0i
107
1st gold 5« 1932 . JAD
2d mort 5i 1914. ..1A.I a 1 1l U 114
Scrtp 5» 1915 ......FA A
_Con 5s 194B_g^ Stock K*ch ■ m
t.
Eighth Avenue—Stock..
B waySorf l8t5ngu J92 4 115 117
Scrip 0» 1914 ...........
2d 5s
an rental . 1905 5104 103$$ 42d A Gr St Fer-Stook.
Central CroMtown—gtockl 255
42d 8t Man A St N Atre
1st mort 0m 1910.. MAS
....M *!« 4ll8K
Cen Pk N A K Kiv—Stock i 180 190 ; 2d Income Gs 1915.JA1
Cor»»o1 7« 1Qng
TV'M^ILO 111 1Lex AvA Pav F 5
Stk

s>

15 May 12 18%J’ne
34 Jan
4% Aug
2 May 19
300 12%Mar 14 23%Aug
081 00 Mar 14 83 Aug
25 170%Jan 4 198 Aug

6
23
22
10
2
10

29.800 44 Apr 21 0O%Jan 31
04,025 91 Mar 26 l20%Jau 14
20,030 125$$Mar 20 171%Feb 14
4$$J’ne 15
1 Feb 10
l%May 2
120 99%Mar 12 114%Feb 8
Minneapolis A St. Lonis...
200 24 Mar 11 80*Peb 15
Do
1st pref.
28 84 May 14 91 J’ne 27
Do
2d pref.
300 40 Mar 26 63 J’ne 8
Minn. St. P. A 8. S. Marie
7 Mar 11
0%Mar 1
1
Mo. Kansas A Texas.......
510 10 Apr 13 14%Jan 26
Do
pref.
3,774 29% Mar 12 41 Jan 28
Missouri Paciflo.............. 13,535 22 Mar 12 3S*Aug 11
Mobile A Ohio.................
300 24% Apr 19 32% Feb 7
Morris A Essex........ ......
300 ll67%Jan 4 175 Sep 8
00 J’ne 1
* ^ Y. Central A Hudson..
■1
8,490 105 Mar 20 120*Aug 8
N. Y. Chicago A St. Louis.
100 ll%Mar 14 15%J an 31
Do
1st pref.
73 Feb 19 70 Jan 31
Do
2d pref.
100 28 Mar 25 40%Jan 29
1350 J’ly 19
N Y. Lack. A Western ...
1120 Apr 20 125 S p 8
V. Y. New Haven A Hart
130 §178%Jan 7 §190% Au 18
N. Y. Ontario A Western..
4,154 l3%Apr 25 18%Feb 2

50
•57% 50
50
76
76
75
75
• These are bid and asked prices ; no sales on this day.
I Less than 100 shares.

O U T S ID E S E C U R I T I E S

pref.

Kingston A Pembroke....
T ake Erie A Western___
L-i Do
pref.
Lake Sh. A Mich. South...

27

58
58 Louisville A Nashville___
94* \fanbattan Kiev.,consol.
159s, iRetropolitan Street......
54$
i Mexican Nat’l .tr. rects...

*20% 28
91
♦80
60
00
•6
11% 12
334$ 34*
82% 35%
28
28
175 175
• 70
75
117* 119$$ 118$$ 1184$ 1174$ H8?$ 1164$ 1179$
14* 14* •14
•14
15
15
•13* 14*
•05
78
78
•65
78
•68
78
•05
*3 4
80
34$$ 3i$$ •83
36
30
•32

§125 125
•191 190 •193
157* 10$$ 16

49 "jan
3
I llinois Central.............. 20,146 90 "Apr 21 115'"Sep
1 Do leased line, 4 p. c.
§94 Feb 18 97%Aug
Iowa Centrul...................
80o 7$$Mar 18 10% Aug
Do
pref.
400 25 Apr 28 37%Aug
IT’anawha A Michigan...
0 Feb 2
0 %Feb
IV an. City Pitta. A G ulf..
300 15 Apr 26 24%Feb

Aak.
<su
ISO
181
109
108
115%
225
114
list.
125
112

49 'Oct
20 Sep
20%Sep
141 Sep

17%Sep
48% Dec
82% Deo
61* D e.
8% Dec
41 Sef
73*8e

RAILW AYS, <&c .

Bid. Ask.
175 200
1st 5s 1942.......... F&A 4113 114*
Vestchent 1st 5s’43..J&J 4109 •IMli
BROOKLYN.
Ltlan. Ave., B’klyn—
1st 5s 1009.......... A&O 4107
Con 5s g 1931 . ...,A&<> 4108 ......,
Impt 5s 1934...... JA-1 9 5
91
B. AW.B. 5s 1933. A«,o
Irooklyn City—Stock.... 214 216
Consol 5s 1941.......4 r i 14 117
-S-T
IklynC rosstnSs 190S. IAT 105
1
t’klyn Kiev—.S Stock E xch 1 s t.
ee
S tr e e t R a ilw a y ..

Jnion R ailw ay—Stock

l.

g

51(5

THE CHRONICLE-STOCK PEIOES (2 pages) P a g e

ST O C K S- H IG H E S T A.XD L O W E ST S A L E P R IC E S.
S a turday, M onday, Tti entity, W ednesday Thursday, F riday,
Sept. 3. Sept. 5. Sept, o. Sept. 7. Sept. 8. Sept. 9.

SH

• %

m

o

u

5
3
>

1,180 19^ Jan 8 B7VAus 27
2,8 9li 8494J*a« 37
409 83%Aug U
?
58 ' Aug l *
j
1,078 l ! 094Mar 12 120%Feo 7
7^Jun 7 2%May 83
.......
4 Feb 28
5% Feb 1]
510 38%Jnn 5 47%May 2
500 57 Mar 23 71 Feb 7
03 $108 Feb 25 §175 Sep 8
9%Sep 1
185
5kJ’uo 11
8.025 15%Mar 25 23%Jun 0
10.02H 30 Mar 12 54%Fob 3
605 ISftMar 20 29 Jan 0
182 Jan 20 §185%J ’ly 27
100 22 May 11 32 Aug 23
50kMar 15 09kAug
200 IH0kMnr20 §125 Aug 31
100
5%Mar 7
8k Feb 1
1
525 45 Feb 24 63 J’ne 11
240 13%Apr 25 23kJ’ne 11
1,2 l 9 0 Mar 20
9 Aug 25
1,710 52% Mar 12 08%Aug 22
2,4u0 22%Feb 24 S-iWAus 2 1
GVA uk 11
1
3WJan 24
1,451
7m Mar 12 14%Aug 18
18%J’lv 0
78 "Apr 20 90 Aug 3
1 l23%Jan 12 171 Aug 20
1
1,300 12 Apr 13 2334Aug 26
0,33*
7 Apr 21 10 Aug 23
20,190 23%Mur 20 3(IK A up 37
7,985
8%Mar 12 ION Aug 31
210 155 Apr 21 194%Feb 10
112 Aug 26 §15 Feb 10
100
16%,Ian 12 SOkSep 2
39,795
78.24 1 45%Mar 12
24,822
4%Aug 3 lOkFeb 18
015
0(i>liii' 26
9%Ang 3 1
12,180 14%Mar 7 24 kA ug 3
1
1,200 87%Apr 25 102^.! an S
2,810
89iJan 11
k-riy 22
020
8 J’iy 9 16 Jan 12
too
ah 0 SS&Jan IT
100
5 Feb 5
7 Sep 8

k

&

27

k

m

\IH

1

Sates Range fo r year 18H0* R ange fo r pre­
o f the On basis o f loo-sh* re lots vious year (1897).
Week,
Highest. Lowest. 1Highest.
Shares Low ett.

STOCKS.
N. Y. STO C K E X C H .

85% 35% Oregon Short Lin o........
44
44%
§85
85
07% 08%
118 118V Pennsylvania..................
*1(4
»K Pen. Decatur & Evansv...
•5
0 Peoria & Eastern............
43M 40V Plttftb, Cln. Chic, St. L . .
03
63
Do
prof.
•172
Pitta. Ft. W. Ch., guar..
0% Pittsb. A West,, prof .....
•««
18
1 4 1> ending, voting tr. otfn..
8 .1
43
43% I t 1st prof., vot. tr. Ctfs
2K4 8144 2d pref., voting tr. ctfs.
•185%
Rensselaer & Saratoga_
_
*27% 29% Rio Grande A Western___
*0 *
nOh
Do
prof.
•123% 125 Rome Watertown Ogd..
*0
kit, J, v G. Isl., vot. tr. eta.
V
as
50
Do
1st pref
-17
1SV
Do
2d pret
S54 S-H St. L. A S. Fr., vou tr. ctfs.
00
00
Do
lat pref
Do
2d pref.
32V 33
*5
0 St. Louis Southwestern...
1
2
12
Do
prei.
•22
20
*8S
92
Do
pref.
*105
L7
1 St. Paul Minn, Man......
21M 22 Southern Pacific Co........
9 Southern, voting tr. ctfs,.
9
34
33
4 .-1
Do pref., vot. tr. ctfs.
18V M k rPexas A Pacific............
173 173 X hird Avenue {N. . )—
*20
30 Toledo & Ohio Central —
*40
31 Twin City Rapid Transit..
*29
30
3*- 32%
04% 00 ‘
0% Un. Pac. Den. G., tr. reo
0(i
8%
abash......................
20V Ml 9
Do
pref.
4
95% 06V West Chicago Street.......
2H Wheel. L. E., S3 aas’t pd.
2V
Do
pref. $5 do
14V 1494
2 Wlscon. Cent., vot. tr.etfe.
*>M
*4
8
Do
pref.
do
T H s c t lla n ’ M S t o c k w
.
§114 114
STM 35V 37% /x-mericaa Cotton Oil....
86
87%
Do
pref.
SHV
35
*27
85 American District Tel ....
L33 *130 130 American Express........ ..
33% 31% 33%
83 " S3k
2% American Spirits M fg......
13V
1294 1
38
Do
pref.
35(4 37
33%
82j%
8047 saw fiR'”
139% 135% 139% American Sugar Refining.
115 '115 115%
Do
pref.
98 American Tel eg. & Cable..
07V *00
140V 135 iaov American Tobacco..........

9«H
8<((4 80(4 86(4 35k
40
•15k 40
46
46%
sa
84k 80% 185
85
07k
07& 68%
Z
08% 68k
n w k lU6$f U 8M u o j j 110(4
IV
i™
l»tl • i k
•IV
0
•5
« i •5
«
46 1 it 3k 43 V *43% 45
05 | 03
64
«3 V ♦03
►7
12
1173
75
10 !
10
ov
*0(4
19
!U
10
18V 1HV
43k 16V 41
45
43V 44
82
82 1 •a iv 03V 122% 22V
*185
87k *185(4
*185%
20V *27
80k 29*4. •33
20V
•OS
08V *07
69k ♦07
09%
♦123k 125 •123% 125
124% 124%
•7
♦0
7
7V
7k
7V
00
00
00
00
60
♦59
20
19
•10
10
18
$18
•SJ4 « v
*8V
sv
65% 00
07
8354 00
00
3 3 « 33(4
SSH 33V 83% 33(4
*5
0
•514 6
*5 H
i 0
la u 13(4
l«v
12(4 i
•21
20
•22
25
*22
20
*88
02
*83
92
02
•80
•100
.71 1170
70 •160
[70
21k 22
21% 22(t siM 22
84
9
OK
0(9
««
0k
34k 30 k
3IV 85% 31% 35%
'454 10% 11(9 10% 14% 15
•175
[SO *175
ISO S174
75
»20
30
•20
30
30
*20
*41
'50
•41
50
1
5
45
•20
S3
•80
38
•a 9M 3K4
93
31
32 k .
3 1% 33
001* 07%l 60k 07% 00% 60k
0 '
7
8(4 7k
7V
sv
8(4
85
4 f>(4
»W
sv
31(4 22(4 a ijt 22!-4 21(4 22
95v 95%
» s « 85V
05V
2V
254 3V
*%
2
15
115
1SH 14(4 14V
*1
m
1(4
IV
•4
8
7
7
85(4
41k*
85
oau
now
•i«
♦a
M S«
•03
*172
no

♦110
5110U 111
3 7 « 37«
37V 38
38(4
8 S « SS(4 88
88
ISS>4
*25
40
*27
35
*ar
♦130 130 SI 30 183 §133
34% 35% 83k 35
33%
84
84k 84k 85
83%
13'
ISM 18V
ISM ISM
30
39
38(4 38V
80(4
35k 37
33k 33% 31%
80k 89*4 SOW 88
85
143H144k 137% 143
137k
115(4 U6(s $114%115% 115
♦00
98
107V 97% §07%
140 143
189% 141% 138
131 *130 133
90
99
3V
S(4
3(4
3V
»k
5128 128 1128 128 *12(5% 128
*0
10
*9
10% §10% 10%
*
*
(4 *
V
•i
3
3
*1
3
'i
S83V 23M 23(4 03(4
*88(4 24
* ....... 90
So
80
8(4 6M *5(4 « v
*,514
187 187 *186 189
187% 187%
49
■!8(4 5L
49
51
40V
94
593
02V 03V i9 1 « o iv
•4 ?
1
*40
*40
♦03
05
*68
65
05
*63

H

t>x

5134k 134k *131

134

k

Y

\\f
))

k

Sc

112
11,995 15%Mar 25
995 00 Mar 14
22 May 13
25 §116 Jan 5
5.287 24 J’iy 8
4,781 76%J*lv 5
-i.900
6%Jan 20
2,475 16 Mar 20
7,032
0,328
280,961 107%Mar 20
325 103 Mar 25
22 §88 Mar 29
75,850 SSMJftd 24

3M T>ay State Gas................
SM
120 127V -Drooklyn Union Gas......

k
&

*

% /Colorado Coal I. Level.
*1
pref.
2% vy Do
132(4 23 Colorado Fuel Iron.......
*
80
Do
pref.
Col. & Hock. Coal Iron..
*5
187U 187V Consolidated Gas (N. V.)..
48% 50 Consolidated Ice.........
Do
pref.
§9ik 93

m

U

04

[you LTVll.

&

84V Detroit Gas.....................

10
0,245
2%Mar 21
530 106 Mar 26
310
VApr 7
2 J'ue 0
340 17 Mar 12
75 Aug 19
200
4%J’ly 25
570 167 Mar 26
7,301 27%Mar 25
351 SSMApr 28

iTVJ’U

SSVAu*

103%Jan
k J ’ne
5 Apr
11%Mar
44%J’ue
160 May
4k Aug
10k Apr
38%Apr
22% Apr
175 Oct
14M-UUO
25 May
110 Mar
Sk.l'ne
37-kJ’ne
lOVJ’ly
4 Apr
37 Jan
12 A pr
1 Apr
SVApr

110 Sep
SVAng
8%Aug
30%Deo
70%Oct
172%Aug
12 Sep
29%Sep
5744Sop
SSJiSep
185 Jon
25%Sep
61%Deo
122%Deo
i'KSep
54%I>oo
20%Sep
9 Aug
594ft Deo
27% Deo
7 Aug
HKSeP

72%J ’ly S7%Oct
114 Jan 125 Aug
13%Jan 23VSep
7 Apr 12%Sep
Apr 3S^ft3op
8 Apr 15 Aug
140 May 173 Dec
20 Sep 20%Oct

•12%

9%Dec

14-kDeo

i Apr 1l?ftSep
4%Mar
9k Sep
U % Apr 24%Sep
100%Nov 112 Aug
6%Jan
%J’ne
2KApr 29 Jan
1 J’ne
4KAog
8 Sep
a Sep

105 Oct
S9kAug 26
9%May 28-VSep
901%
Aug 22 52kFeb 80%Sep
30 Sep 1 21% Dec 27 J’ly
140 J'ly 20 109%Jan 119%Nov
15%J’ne 9
4 IS A uk 25
43%J’ly 9
14H%Auv110 Jan
97%Aug
147 Aug

OkNov
15 Dee

15%A ug
36 Aug

20 109%Mar !59%Sep
6 1OOkJan 121%Sep
24 85%Jan 94 J’ne
20 67%Feb 915'KAuk
115 Aug

5%Jan 21
128%Aug 12

3%Oct 16%Aug
85 Jan 137 Sep

2 Aug
%Jan 28
KJ'ly
5 Sep
2 Oct.
2%Apr 8
26%Jan 11 15%J’ne 27%Sep
75 Aug 19 70 Nov 85 May
7&Aug
7%Jan 13
SkJ’ne
205%J’ne 9 136%.l an. 241%Sep
52 Sep 2 28 Nov •il^J’lv
92kAug 31 80 J'ne 90%J’ly
37%May
300 45 Apr 20 04%Sen 9 20 Jan. 00 Nov

Xhdison Elect. 1 1 (N. Y.j.
1.
'eo 119 Apr 8 135 Jan 20 lOIMJan. i 32%Sep
115V$Aug
Edison Elect. Lli. (B ’klyn).
45
4
43V 4 --% Genera El ectrIc. ---- ------ 18,877 29%Mar 12 lajjSep 8 aSKMay 41%Sep
20%
0,820 44%Apr 25 75kStp 0 29%Apr 50 Aug
72 1 ilinois Steel .................
72(4 71
11,398
51% 52%
1,188
90%
50
2,305 87%Mar 25 54%Aug 9 22 May 40kAug
49% 50 T aclede Gas (St. Louis).
90
150 85 Mar 12 96%Aug 8 70%Mar 96 Aug
95
a Do
pref.
♦93
52
J\;f aryland Coal, pref......
*45
52
45 Mar 28 §53 J’ne 10 40 J’ly 52 Dec
975$ I t-Li nnesota Iron........... . 10,711 57 Jan 20 99kAug 3
98% 96
1 38 Apr 60 Aug
33
1,205
387
07
93%
3,050 28VMar 2B 39%Aug 28 2l%Feb 44 Sep
8054 So> 35% National Lead........ ., —
£
890 99 Apr 22 113%Aug 16 88%Feb 109kSep
111% 109k HO
Do
pref.
? National Linseed Oil.......
4 J’l> 28 21'%May 23 10 May 23%Aug
7
000
*»(4
5 Apr 25
8
National Starch..............
8 May 13 Aug
9 Feb 10
*6
77
Do
lat pref.
00 Alar 25 80 Jan 18 5*% Mar 90 Sep
*73
77
30
*20
Do
2d prof.
15 J’ne 29 30 Jan 27
25
8%Apr 45 Aug
42
08
8,025 14 Apr 5 100 Aug 18 22 Dec 31%Aug
90
97*K N. T. Air Brake............. .
702
4kJ an 15
BHA uk
SKApr
7(4 Aug 33
«N
« v North American Co.........
OK
6
*4
1 0k Jan
5,952 21 Apr 21 3 Aug 22 24 Jan. 39kSep
83J< 84 V
33*4 84 TJaciilo M all.................
*330
*330
X enusylvariiaCoal........
5825 Mar 28 5850 Feb 25 830 Deo 340 Mar
104 100(4 103% 105% People's Gas-L, & 0. (Chic.) 05,583 86%Mar 20 108 Aug 31 91 Nov 079ftDeo
1,204 165 Mar 12 210 J’ly 5 152 Jan. 185 Sep
180 189
180% 187k PullniiiH’s Palace Car......
/Quicksilver Mining...,,.
4VAug
60
•2
§2
I k Aug 10
l%J’ne
2kJan 7
2(4
Do
prof.
1 (1
0
•d
8
7 Aug 22
*0
5 J’no 2
8 Apr 13 Aug
8
1,000 56kApr 4 0O; Sep 8 5 I k Aug 65%Jan
00J4 *00
01 Qiivor Bullion Certiflc’t'B.
%
1,763
s
8%Jan 2 10%Aug 20
7%
7k
Dec 1 194J»n
7k Standard Rope Twine.
2 1w MM4 2BK 30 rpenn. Coal Iron RR ... 14,985 17 Mar 32 34%Aug 22 17 May 85%Sep
1
80 J’ly
§80 Aug 17
7%
7%
100
*41
45
*42
20 38 Apr 14 $45 Feb 0 87 Feb 48 J’ly
45
§44
44
♦42
45 I Tnlted States Express ..
1,603
5%Apr 25 8%May 2t
6k May lOkAug
7W
vv
7%
7«
7% U nited States Leather ..
7(4
72
Do
pref. 20,355 SdxMar 20 74%Aug 22 50 Apr 72 Sep
70)4 72
72V
69
72V
70k
44(4 48V 43
42
43% 40% 43 United States Rubber...... 15,803 14kMar 12 48% Aug 17 10 J’ne 25k Jan
104 105k 104 105
Do
pref.
6,192 00 Mar 12 lOOkAug 17 50 J’ly 7 0 %Jan
104 105
102 101
1
8 $ l2%Mav v §125 Aug 31 97 Jam 20 DttO
($124% 124%j*120 125 *120 125 §124% 124% TITells, Fargo A C o.......
i t estern UnionTelcg’h
9,085 82k>G«r 20 95% Aug 17 1 75KMay 909iSep
1 04
0454 S 03(4 04V
» 8 « 04(4 98
08V
* Tbeio arc bid and Mked prices; no tales on this day.
$Less than 100 shares.
t Ex dividend of 100 per cent In bonds.
i Lowest is ex dividend.
•1 5 48(4 4454 45V
54
20k 20->i 26k 20%
7854 75k
71(4 73
55
54% 50%
57k
92
♦90
90k 90%
50(4 5 0 «
50
50M
*94
95
04
04
*45
52
•45
52
97)4 »8V
»7(4 99
533k 33% •32k 33
97
97
197% 97%
53(5% 38(4 SOM 37
5112 112 5L1
1 111(4
0
8(4
3M
0(4
8
8
*7(4
•7(4
83
•78
•73
80
*20
*20
30
42
•30
42
*87
98%
87(4 4 0
1 (4 97
1#
054 > 5
ON
«M
*4
•4
0
«
84)4 35
85V
♦830
*330 .......
105 k107
105M 107(4
188 189
108% 188k
*2
•2
2V
»M
0
0
8
*6V
•0854 80(4 *f'"(4 00
8
*54
7«
31
Ml 5
1 30(4 31V

77

k

.—See

5b certfa lndbt.19l0.JAJ
B'kC.ANew 5s ’39.JAJ
Gr.8L.ANew lstos’OOAAO
G’p’t A Lorlmer St. 1st 0s.
Kings Co. Elevat.—Stock
Bonds—

Bid.
104
$109
ck Ex.
110
215
108%
101
$112
104
no
4

10

3t* Stock Exch. List.

A«k
106
no
List
220
104
103
100
0
n

134

X

m

m

2

am

Wr

Jk
k

2%

H it

O U T S ID E S E C U R I T I E S
S tree t R a ilw a y a.
BldnHgU 1st 5s 1041 A&O
BQnsCo.AS.—1st 5s. 1941
Bklyn Rap.Trun
8to
Cal-Cem Gr.vyB’kynlst h«
Coney Island Brooklyn.

§134

43%
20%
7L
52%
00%
49V
♦03
*45
90
32%
§97
35k
§110%
•0
*7(4
•73
*20
*40
07

m i

A * AY

134

*131

(G iv e n

a t foot o f

c o n s e c u t iv e p a g e s ).—

STREET RAILW AYS, &c

mo. Ask.
rttre**t R a il w a rn .
Bid. Aak
S treet R n llw n rs,
S tree t R n ilw n v s .
Bid. Ask.
U2% 0:1
Love Elect Trae fCmc'.
Nassau Eiec5s IU44.A&0 100
Lynn&Bos-Ut 3s ' 21. JAD $104% 105
Clovel Cab-lst 5s ’09. JAJ )lOO 102
NewNVtnb gAFllstex.4%s 101 103 !
08
72
Met.rop Weat Side (Chic).
3
Cleveland Electric Ily —
NVAQusCo5s 1040. A AO
1st 5a 1942_______ F&A
53
8tel nway lstfl.i 1928.JAJ 5 ii 4 « i i e «
Cou 5s 1913........ MAS $108 106
50
51
04
Columbus (Ohio)—Stock.
Miuneap St Ry-5a’19.JAJ $ 92
101
102
2
New Orleans Tr—Com....
1
OTHER CITIES.
8
Preferred ....................
Or* ishI*wn-1Bt5s’33J A 1 100 101%
1
5
Balt Consol—Stock—
Balt L
Note« 6s 1904 ___MAN
75
Pbilw list.
Fonsol Tract’n (N J )—
Brldgep Tr-lstSs ‘23.J&J $100 106
12% 13% North Chicago—Stock —
220 228
Buffalo Street Ry—Stxick.
7 )M sov Lake 3t (Chlc)Elev-8u»ck
1
1st 5a 1906-16....... JAJ $104 105
74
78
1st consol 5sl931.FAA (113 115 i
1st 5b 1928............
No Shore Tr (Bust)-Com.
13
11
Croaatown 5s 1932MAN l l l n v m v Louis v St Ry—5 p c bonds $115 116
89
Preferred........ .
85
77
Chicago City RR—Stock..
$ Buyer pays accrued lntere s .
fc
101 103
...........
CltUens’ 8t (Ind’nanl-S/r Phila list. 1 Preferred

See

Srr

M

H

THE CHRONICLE.—BOND PRICES (5 pages) vage L

S ept . 10, 1898.]

Week’s
Price
R ange
F rid a y, R ange or :S"5 fro m
Ja n . 1.
Sei)t. 9. L a st Sale. ^
B id. A sk. Low. H igh. No. Low. High

-J
.®

BONDS.

^

K .Y .ST O C K E X C H A N G E
W e e k E n d in g S e p t . 9.

—
kron & Chic Jnc. See BAO.,
iabama Cent.
Sou Ry.
93% Aug’98 ....
- •
95
Alabama Mid 1st g ag ... 1928 N * 93
Albany & Susq.
D A H.
Allegheny Val.
Penn Co.
Am Dock A I.
Cen of N J.1
88
88
14
88 Sale
Ann Arbor 1st g 4s.......1995; Q- Jt
94%
95% 401
04% Sale
Atch T & S Fe gen g 4s . 1995 A - O
89% Mar’98 •••Registered...............1995 A - <)
71%
78%'22'3
<i% Sale
Adjustment g 4s....... 1995 Novf
Registered.............. 1995 Novt
Equip tr ser A g 5s. ...1902 .J - J
Chic & St Lonis 1st 6s.l915 M -8 ,
Atl A v Bklyn imp g 5s.. 1934 J -J
99% 99% Aug’98, ....
Atlan & Danv 1st g 5s.. 1950 J - J,*
Atlanta A Char.
Sou Ry.,
Aastin & N W. See So. Pac.
at Creek A S.
Mich Cen:
^alt O 1st «s Pkbg Br.’19 A -O i 115% Sale 114% Aug-98 ••
a
114% Sale 1
114
115%; *
Trust Co. ctfs. of dep.
Gold 5s ......... 1885-1925 F - A * 114%....... 118% Aug’98 •
Coupons off.................... •........................
Registered..... 1885-1925 F -A ............... 111% Aug’98
ii4
Soever & Co. certf of dep ...... *1 14% .. . ;i i 4
dep
Speyer
Tru**t Co ctfs ofj deposit........ 114 Sale
118%
Consol gold 5s........... 1988 F- A H17% ......118%
1116 Aug’98
Registered............1988 F* J P M A Co ctfs of dep. .......................... 116% Aug’98
Balt B’lt 1st g os intgu. 1990 M -N ................ 100 Aug’98
W Va & P 1 st g 5s..... 1990 A -O , ................. ..................
Monon Riv 1st gu g 58.1919 F -A ..................... ...............
Cen Ohio R lstc g4%sl930 M -S 103 ....... 1<JJ% Aug’W
s
ColACinM 1st ext 4%s 1989 J - J ................... . .....
Aug’y8
AkACJ 1st intgu g5s. 1930 M-N 102%....... 105
Aug’98|
Coupons off........................... I ................. 105
107% J’ly ’98
pltts & Con 1st g 4s... 1 94b J - J
B A G S V Istgug4%s.l99-- J - J 102% Sale 101% 102%
V
J
. 00 J’ne’97
BA O SW Ry con g 4%s 199M J - J
. 27% J’ne’98
9 J’ne’98
8enes B................. 2043 Deet ....... 15
B 4 U S W TerCogug 5s.’42 M -N
............
Ohio & Mtss lstcon48.1947 J - J ............. ,1
105 Aug’98
y
2d consol 7s............ 1911 A -O .............. . 122% .1’1 '93
1st Spr’gtteld Div 7s. 1905 M -N ....... 105
100 Sep. 9s
1st general 5s......... 1932 J - D ..............
Beech Creek.
NYCAH.
Bel A Car.
St L A T H.
Boonev Bridge.
M K4T.

A

See
See
See
See

BONDS.

N.Y. STOCK EXCHANGE
W

eek

E n d in g S e p t . 9.

Ches & Ohio—(Con.)—

517

Price
Week’s
R ange
F rid a y , R ange or
fr o m
Sept. 9. L ast Sale.
J a n . 1.
Bid. A sk. Low. High. No. Low. H igh

'.ien gold 4% s..................1 9 9 2 ;M -S

86 %
87%
86% Sale
73% 90
Registered. ..........19921M - S
104 Aug’98
99 105%
A Div 1st con g 4s. 1989 - J 102
92
90 Aug’98
90
94
2d con g 4s............ 1989 .1 - .1
95% May’98
95
99%
Craig Valley 1st g 5s. .1940!.! - J
Warm Spr Val Istg5s.l941 |M81
89
102
6i 97% 104
Eliz Lex A B 8 gu g 58.1902 u - s 102 Sale 101 %
85
96%
112% 113%
113% Apr.’98
89% 89% Chic A Alton sink fd 6s. 1903 M -N
107 111
108 J’ne’98
Lou. & Mo Riv 1st 7s..1900 F- A
53% 73%
107 107
107 J’ly ’98
2d 7s.......................1900 M -N
Miss Riv B 1st sfg6s..l912 A -O
Chic Burl A Nor.
CB&Q.
113%118%
Chic Burl A Q—Con 7s.. 1903 J - J 115% Sale 115% 115%
103% 107
105 Aug’98
Sinking fund 5s......... 1901 A - O
95
99%
110 %
110 %
104% 110%
Debenture 5s.............1913 M -N
104%121%
Convertible 5s............1903 M - S 114% Sale 114% 116%
109%111
Iowa Div sink fd 5s. ..1919 A - O ‘111 ...... 111 Aug’98
98 104
102 Aug’98
4s.......................... 1919 A -O '102
,100 118%
9 * 101 %
101% Aug’98
113% 115%; Denv Div 4s.......... ...1922 F -A
99 100
100 Aug’9S
4s............................. 1921 M -S
80 118%
Chic A Iowa Div 5s.... 1905 F - A
6 95% 101%
Nebraska Kxten 4s.... 1927 M-N 100 101% 101 % 101 %
95 113%
97
97%
97 May’98
Registered.............. 1927 M-N
90 . 114
119 128
123 Aug’98
Han. A St. Jos con 6s.. 1911 M -S
110% Aug’98
105 110%
Chic Bur A Nor 1st 5S.1026 A -O
97 118%
114% 116%
1 —1st sf cur 68.1907 .J- I) lih% Sale 116% 116%
103 116% ChicAE 1 1
Small...........
97 11 6 ^
1907 J - D
132 Aug’98
122 182
1st con g 6s................1934 A- O
84 101
108 Aug‘98
101%108*
General con 1st 5s.... 1937 M-N
106% J’ne’9>
101 106*
Registered............. 1937 M-N
100%109
105% Sep.’98
99 104%
Chic A Ir.d C Ry 1st 5s. 1936 J - J ’ 102% .
Chicago A Erie.
Erie.
Chic Ind A Louisville—
105 105
115% J’ne’98
112 115%
Louisv N A A Ch 1st 6s..’10 J - J
100 105
92 Aug’98
80
Chic Ind A L ref g 5s. .1947 J - .1 91
105% 107%
07 Aug’98
90 107
Refunding g 0s..........1947 J - J 107
98% 103
Chic Milwaukee A St Paul—
151
140 151
1st 7s $ gold R D....... 1902 J - J 151 Sale 151
27
27*
1st 7s
gold R D....1902 J - J
8
U*
137% 145
145 J’l y ’98
1st Iowa A D 7s......... 1899 J - J
141 Apr.’98
140 144
1st C A M 7s...............1906 J - J 151
104* 105%
152
152
Chic Mil A St P con7s.l905 J - .1 151
120%122%
188 156
139% 151%
151% 151%
1st 1 A 1 Kxten 7s.... 190b J - J 151
)
,102% 108
117 Aug’98
1st Southwest Div 0s. 1909 J - J
116 119%
110 M ar’9
110 110
1st La Crosse A 1) 5s.. 1919 J - J
114% 121
1st So Minn Div 0s.... 1910 .) - J 1 1 ? ^ ....... 118 Sep.'98
128 130%
1st Hast A D Div 7s... 1910 .1 - J 128% 129% 128% 128%
109 Oct.’9
5s.......................... 1910 .1 - J
6 112 113
118 121
Chic A Pac Div 0s......1910 J - J 1IS 120 118% J’ly ’98
Bklyn City 1st con 5s 1916-41 J - J *113 115 112% 113
24 70
93
94
92%
93%
111 117%
Bklyn El Tr Cocf Istg0sl924
94%
Chic A P W 1stg 5s.... 1921 J - J 117% Bale 117% 1179
114% Aug’9
110% 117
80
J’ne’98
Chic A Mo Riv Div 5s. 1920 J - J
86
107 M ar’98
107 110
; 68 May'08
68
68
Mineral Point Div 5s..1910 J - .1
112 118%
Chic A L Su Div g 5s.. 1921 J - J
112 Apr.’98
8 A BBT Coots lstgu g5s’42
114
114
111 115%
Wis A Minn Div g 5s.. 1921 J - J
92% Sale
92*
93 i 53| 80
111 115
113 J’l y ’98
04
Terminal gold 5s....... 1914 J - J
On El Tr Co cfn 1stun kBh'37
6! 91 100
127% 127%
104
127% Jan.’98
Bklyn Rap Tr g 5s........ 194ft A -O 104 Sale 104
Far A Sou assu g 0s... 1924 J - J
106% May’97
Bklyn A Montauk.
L Isl.
Cont sink fund 6s..... 1916 .1 - J
J -J
112 Aug’98
Dak A G tSog 5s....... 1910 J -.1
Gen gold 4s series A. .1989 J - J
?
Buff N Y A Erie.
Erie.
. 105% 105% 105%
Buff R A P gen g 5s..... 1937 M -S *105% 107 105 Sep.’08,
104% 108
Registered.............. 1989 Q-Ji
105% Feb.’9b
.1 - J
Mil A No 1st M L 6s.. 1910 .] -D .. .. .. 120 % 120 M ar’9b
121 Aug’98
Rocb A Pitta 1st g 6s.. 1921 F -A * ......128% 127 M ar’98
1st consol 6s............ 1913 J - D 120 % 121
127 127
141 142 142% Aug’98
Consoi 1st 6s..........1922 J - l ) ....... 12-94 123 Aug’98
1 22 12194 Cbic A Northw—Con 7s. 1915 Q -F
1
115 Aug’98
114% ....
Cl A Mab 1st ga g 5s. .1943 J -J *....... 120
103 Apr'97
bOld ?S.................... 1901: J - D
114% Aug’98
Registered............. 190*/ J- D . 114% ....
124% Aug’98
Buff A Susq 1st gold 5«..19l3,A-0
Sinking fund 6s.. 1870-1029 A-O
Registered................ 1913 A -O
115 J’iy ’98
Registered..... 1879-1929 A -O
Bur C H A N 1st 5s....... 1906 J - D
Aug'98!
Sinking fund 5s. 1870-1929 A- O •107%...... 111 Aug’98
104%109
1934 A -O 1 0 6 * .......1
Con 1st A col tr g 5
Registered......1879-1029 V- O "105 ...... 107% J’ly ’98
J’ly *98
,100 109
1034
Registered........
Sinking fund deb 5s... 1033 . -N 119% Sale 119% 119%
M
• *
*140 .......
1927 J Registered..............193.3 .H-N 118% .... 117 Mar’98
25-year debenture5s.. 19019 «. >' ......... 110% 100% Aug’98
. '2U A -O
Dec’97 •
1021 A -O *105% ......
109% M ar’98
Registered............. 1909 M-N
Jan.’OS •
105 105
1008
anada South 1st 5s. ..1908 .1
110 gale
107% 111%
30-year debenture 5s. .1921 A - O 110 117 110 Aug’98
1913 >1-s 107 ....... 107
2d 5s..................... 1913 X
116 117 117% Feb.’W
107 '
b
Registered..............1921 A -O
105 111
Registered.................1913 M1013
Extension 4s....1886-1926 F- A
106 Jan/97
105% Aug’98
CarbAShAwn. SesStLAATH.
103 J’ne’O
iRegistered..... 1886-1926 ;F- A
Cart bage A Ad. See NYC AH.
Gen gold 3%s............ 1987 M-N
. 103% 103% Aug’98
C R la F AN.
B C R A N.
Registered.............. 1987 Q - N
Central Ohio. See Balt A O.—
106 107%
107% May’98
F.scan A L Sup 1st 0s.. 1901 jJ - .1
Cen RR A Bkg Co of Ga.—
Des Mo A Minn 1st 7s. 1907 F - A
Collateral gold 5s....... 1937 M-N
Iowa Midland lst8s... 1900; A- O
92% J’ne’98
87
93%
Cent of Ga Ry—lstg 5s..,1945 F-At
114% J’ne’08(
Winona A St Pet 2d 7s. 1907; M-N
114 119%
,1945 1
F-At
117 117
117 Jan.’98
Mil A Mad 1st 6s....... 1905 M- S
90 Sale
Consol gold os........... 1945 M-N
90
90% 42 S4* » 2 *
109 109
109 Mar’98
OttC F A St P 1st 5s.. 1900 M -S
Registered ............ ,1945 M- X ...........
105 Apr.’98
105 105
North Illinois 1st 5s.. .1910 M-S
2
*6 36
1st pref income g 5s...,1945 Oct.: 39% Sale ! 39%
42
132% 137
130% Aug’98
M i l L S A W lgtg da..1921 M-N 135% .
44%
,1945 Oct.: * ..... 14
2d pref income g 5a—
14 Aug’98
105% Feb '9“
Convertible deb 5s.. 1907 F - A
10% 15%
|
3d pref income g 5s.....1945 oct.: •106 107*1 0% Aug’98
113% 118
110 Aug’98
Ext A Imp s f g 5s.. .1929 F-A
4%
8%
M A N Div lstg 5s....,1946 .1 - J •8 9
....... 92 Jan.'9*
138 134
Mich Div lBtgold 08.19241 - ,| 180% .
j
134 Mar’93
92
92
_
Mobile Div 1st g 5s_ ,1046 .1 - J • 9 5 ....... 9« J’ly *08
U5% 00
133 135
Ashland Div lstg 6s 1925 31-8 130% .
133 May’98
Mid Ga A Atl DlvGs.. 1047 .1 - J • 83
90% 86%
112 113
86%
3' 86% W Q
Incomes.................1911 M-N
112 A pr.’ 98
868
Cent of N J—1st con 7s 1809 Q-J* 1 0 3 * .......! 103 Ang’9a
127% 132
131 Aug’98
103 104% Chic Rock I A Pac 0s.... 1917 I - .1 i*3i% :
,1902 M N
128 131%
113% Dec ’97
Registered.............1917jj - J 130 .
130 Ang’98
Convertible deb 6s — ,1908 M-N
112% J’ly ’98
104% 108
Debenture 5s............ 1921 M -S
107 J’ly ’98
i io% ii*i%
General gold 5?.........,1087 J - .1 113% Sale U3%
118%
2 109% 1 5
1
Registered.............19211M- £
Registered............. ,1987 Q-Jt ....... 114
102% 105%
113% Aug’98
General gold 4s......... 1 8 5 .1 - j 104% Sale 104% 104%
91
108% 114%
Leh A W B C con as 7s,,1900
....... 101
100
10l,*l 20 99% 103%
103% 105%
105% Aug’98
Registered.............1988 .1 - J
5s........................ ,1912 V M
n
91 J'ly ’9H ....
M
85
95
94% 95 Sep.’O
Des M A Ft D 1st. 4s.. 1905 J - J 93
00
03
Am Dock A Imp Co 5s. 1021
113% Aug’flS,----- 110 110
09% 70%
1st 2%s.................. 1905 j - j
*....... 1H
70 Feb.’0b
N J South Int guar 6s. 1899
83 Mar'9
Extension 4s..........1905 .1 - J
Central Pacific—
103 109
108% Aug’98
Keok A Des M 1st 5s.. 1923 a -O
8peyer A Co ctfs dp A.1898 ...... ................ 103 Feb.’9h
100 A pr’97
108 103
Small............................. A -O
8peyer A Co ctfs BCD. 1899 .......................... 103 Feb.’98
Chic A St L.
At T A S
1
103 103
8peyer A Cootfs dep E. 1900 >
.................................
Chic St L A N O.
11 Cent.
1
Speyer A Co ctf FGIII. 1901.......................... 1
___
Chic St L A Pitts.
Pa Co.
8an Joaquin Brg6s...l900 A -O •104 ....... 102%J,ne’98 .... 102%105
126%138
Chic St P M AO con 6s.. 1930 J - D 135% Sale 135% 135%;
Guaranteed g 5s........1939 A -O
128 134
134 Aug’98
Ch St P A Min 1st tis.. 1918 M-N
Speyer A Co eng cte...............
Nor Wisconsin 1st 6s..1930 .1 - J .......140
•t02 ....... 102 Mar’98; .... 100%102
St P A S City ls tg 68.1919 A - O ....... 132% 132 Aug’98 . . . . | 126 133%
C A O D lv exta 5s.... 1918! J - J ’
*102 ....... 101 Jan.’98 .... 1101 101
8*
10! 79% 90%
Chic Ter Transfer g 4s . .1947 J - .1 88 Sale. 87%
Western Pactflo g 6s.. 1899 J - J *108 ....... 104 J’ne’99 .... ]101 104
Ch A West I l s t s f g 08.1919 M -N 105%...... 106 J’ne’97 ....
No of Cal lstgu g 6s.. 1907 J - .1
117%122%
120% Aug’93
General gold 6s........... 1932 Q- I)
Guaranteed gold 5s.193s A -O
103% 108% | 24 100 103% Chic A West Mich Ry Ss.1921!J - 1)
OentWash 1st g 6s tr ctfs 193V......
40 Feb.’9v ....
40
40
Coupons off.................1921 ...
Charles A Sav 1st g 7s. .1936 J - J
119 Oct.’97
Hn H A D con s f 7s....l905i A -O
Ches AO —g. 6s ser. A... 1908 A-Ot 110 ....... 110
110
2 !\18 120%
103% Oct.*97
2d gold 4%s................1937 J - J
Gold 6s.................... 1911 A-OT 119% ___ 120% Aug’98 .... 115% 120%
107% 111%
111 Aug’98
Cln D A I lstg u g 5S..1941 M -N
115% Sale 115% 116
25 111 117 ! 1 I 8tL AC.
C C C A St L.
Registered..............1939 M -N I ..... 116
114 Feb.’98| .... 113 114% Oln S A C .
C C C A St L. i

B

01

93*

R

&

See

See
See

&

......

&

See

_____ _________ .........................................

&

See
See
&
See

See
See

\- oD

.1 - J
no
M-S ..................

C

no

=C
——
11
U’
.

See

See

F.

See
See

See
See

No price Friday; these are latest bid and asked this week, t Bonds due July.

O U T S ID E S E C U R I T I E S
S ire s t K n llw n m ,
Bid.
Prov A;Pawt’ck-lst 5s ’33 4107
Rlchm RyAElec-lst 5s’20 78

\

Con 5s 1930........ A AO
96
Scranton Traction...... 50 t 12

'(G iv e n at

fo o t

59"
10

See

\co

4108% 104*
Y Stk Exch
100 110

4101

4111
335

X Bonds due Nov.

| Bonds due June.
|

T Bonds due Jan.

4 Bonds due May.

7 consecutive pages ).— GAS SECU RITIES, &c.

Ask. [I
G a * Secu rities.
Bid. Ask.
108
West Kod —
Heston Exch 1st.
81
Worcester (Mass)Tr-Com
15
16%
Preferred................ ..
03
00

15
N EW FORK.
Central Union Gas—
00
1st 5s 1927............. JAJ
20
Con Gas (N Y )—Stock—N
100 1 Deb 5s 1908.........MAN
Un’d TrAKlec(Prov)-St’k 70
72
Eqult Gas...............
1st 6. 1°31 ....... MAB {108 109 ; 1st 6s 1899.......... FAA
West Chicago ol............ . «5
95%, | Con. 5s 1932.........MA8
Onn 1»S« ...........M *N '( fllu 00 II M iilim l fJ»u».......... .......

Bo 8lde El (Chic)—Stock.
Twin City ft Tr—Com....

of

102%
116
345

G a * Soonritie*.
Bid.
N. Amsterdam Gas, Com. _ 29
Pref............................
70
1st consol 5s............... 4101
N Y A East River Gas—
1st 5s 1944............ IAJ 110%
Consol 5s 1945...... JAJ 108
Nor Un—
1st 5s 1927...........MAN
00
Standard Gas—Common.
185
1st 5s 1930.........MAN
BROOKLYN.
Brooklyn TJ* fins—V

V

4110

Ask.
2 %
V
71
101%
112
109

G u * Heciirltle*
f Bid. Ask
Brooklyn Union (Cons­
ist con
— N Y Stock Exch.
Williamsburg Gas—1st 0s 4101% 102*
OTHER CITIES.
Balt.
Baltimore Consolidat
Bay State Gas—N Y Stock Exch.

5e

—Se e

Boston UnltedGas Bonds- -Boeto nM*t
Buffalo City Gas—Stock.. 23* 24*
96* 96*
1st 5s 1947..........AAO
Burlington (Ia)Gas—Stck
118
4And interest. tPrice per sh
tcV
-.T f]Sori«atwi (8 O) Gas.. .25 t.......
05
138

l

TIIE C H R O N IC L E .—BOND PRICES (5 pages) Page jj.

618

/TUX
F riday, Range or
Last Sa lt,
Sept,
ih d . A sk. Law High.

Range
from
Jan.
Low. High

pai*rf!i
BONOS,
I
j
§ *§ jJ
S .Y .8 T O C K E X C H A N G E f i f
a;5
®
1.
i*.
W e l k E n d in o S8**T. 9,
----- 1
Ao.
i
GltyA 8 Ry Bait lit g B9.I9S2: J - D
Ottwoeld A M*h*
BU a I'.
j
Cl At A C eq 4 2d b
F- A j
09% 78%
Cl A
l#i 5» rw -, U» 1
7M - J
70 An«*08|
j S3 J’utTvi'*
62
83
C C C * St L —
Gen s 4».*i093 J - 1 :
>
88
0094
Cairo l»lv l#t g»4a < »..IV 39 J - Jj
j Oft Aug’08
00% 2 00
I. Dl» l at go) tr*? 4*. 1 « M- N
m"
0 «%
K«ifl«ternl.,M>..wMlvyo' M- N
90
08
.j 90 Mar 'On
8pr Ool Djv Ut(i U . l t f w -M-S
W W Vai Dir l»t b 4a. 19400 - J ....... ...... I 87 Aug'08 •
80** 88%
89
9C%
Ciu W .* M Div 1«t g 4?- 189 l jJ - J ‘ 00
..... 90 Aug’08 •
08% 101
Cm I St L A C latg 4*.tu3flKJ-F1 101 ....... 99% May’w» •
Bfigistared . . . . . . . . . . lV88jO-Et
Consol da............... lt»Wj U-N|
114 Oct.'97
Cln S Cl con 1at g 5s.l00s[ J - J
ind ai a vv is: pr?B..ivovrJ - J
1107*4 Feb‘07
0 Ind A W 1st pf 5ft.-.1938 G-J4
70
80
Poo A Hast tat oon 4a, lttlu A - O
79
70 ** *79%
14
22
Income 4a,......,..,.,1001*4 A p r
22
92
22
102 105%
104 AoiPflS
05 C C A Ind tat a t 7a...1800 U -N
181% n r
Consol 7a............ .
KM l ]J -*>
135% J'ly '08
Consol sinking fd 7s... 101 J - O
-4
127%127%
General conaol gold 0s. 193-LJ - J
1279{ ^la y’96
Registered.............1984 J - J
Ca n 1st M C C C i l 7s. 1V 1 A -O
>0
107^ OcL*9
100 108
Cl Lor A W b con 1st 5s. l0Si« A- O
108 M a y’98
C ar A Marietta.
Pa UR1 121 121
21
C'«v A Mahon Yftl g irs.. 1038 J - J
121
Registered ........ ... 1038 Ou-J
it A Pitta,
Penn Ca
21 50
Cal MIdl'd— l»l « 2-3-48.1047 J - J ....... 6 2 ^ 01
61
10 05
73
U tg 4s................ ...1047 J - J
70
71
70 Sale
Ool A 0th A y .
Met St Ry.
Colura A Greenv.
So Ry.
Ool
V A Tol-Con g 5s. 1031 M- S
79
75 Oct.’97
5 70% 82%
J P M A Co eng cfs 835 pd
80
79
70
54
61
General gold 0».........1904 J «D
60
61 Feb.’0S
General lien gold 4a... 1090 J - J
Registered............ 1990 J - J
Ool A Cln M<L
B A O.
Ool Conn A Term.
NAW
Oonn A Pas Rlva 1st g4a.*48 A - 0
ak AG t So.
CM AStP.
alias A Waco.
M KAT.
if el Lack A Western 7a.. 1007 M- S
122 128
122 A p r.’OS
Syr Bing A N Y 1st 7a. 1900 A -O 124
126 J 'l y ’ 98
125% 126
137% 144
Moms A Essex 1st 7s. 1 914 Vl-N
140 A u g ’ 08
7s...........................1900 J - J
107 107
1**7
. 1 0 6 * 107
7 s ................ 1871-1901 A -O •109
107 113%
107 A u g ’08
1st con gear 7s....... 1915 J - D ’37
130 142%
.
180 J ’ue'Wb
Registered........,. 1015 J - D 137
N Y Lack A W 1st 6s..1921 J - J
136% 188%
. i? 7 H 136^ J 'ly’98
11 N
’nv'fl*
Construction 5s..... 1023 F- A
Warren 2d 7s....... ..,.1900 A - 0
108 A ug’98
108 108
Del A Hud 1st Pa Div 7s, 1917 M- 6 144 . . . . . 145 Aug* 98
148 145
Regtst tred ...........1917 M - S 144 . . . . . 148 May’97
L
Alb A 3 .s 1st oon gu 7s 1006 A - O ‘ t 3 * H ...... 125 A ug’98
120%125%
Registered..... . . .. . . 1906 A - O
Gold 6s...................1906 A - 0 11594 .
110 118%
115 J’ne’O
N
Registered..........1906 A -O
117 .
117 Feb.’98
117 117
Bens A Sar 1st 7s.......1921 VI-N 142*4 .
14894 Ang’07
Registered...........1921 VI-N 141 .
141 Muy’98
141 145
Del Rlv RR Bge.
Pa HR.
Den Con Tr Co 1st g 5s.. 1933 A -O
Den Tram Co con g 6s. 1910 .1 - J
Met Ry Co l»tg u g 6s. 1911 J - J
Den A RGr 1st gold 78-.1900 M-N 110 111 I11M Aug'98
1
08 11 ,,
1st oong 4s.............,1936 J - J
90)4 Sale
96%
07
87% 0«%
Improvement gold 5s. 1028 J -D ----- - 05
85% 05
94*4
95
Be* M A Ft D.
C R A I P.
Dee M A Minn.
Ch A N W.
Des M Un Ry latg 5a... 1917 M-N
97 100
999i J’ne'98
DetMAToL S « L 8 4MSo.
Bet A Mack 1st lien g 4s. 1995 J - D ' 85 ......
Gold 4s................... .1995 J - D ' 55 ......
Dal A Iron Range 1st5s. 1937 A -O 105 107
105
104 110%
Registered..............1937 A -O
2d lien mortgage 6s. ..1916 J - J
Dal Red W A 8 1st g 5s. 1028 J - J
9214 Feh.'98
92% Q 2 H
Del 8o Shore A At g 5s. 1037 J - J 112H Sale 112*4
101 112%
past of Minn. S « 8tPMAM.
W T V s A G a , Sef.SoKy.
■In Lex A B B .
C A O.
9nx> Cort A No. SrcLehANY.
I n e 1st ext g 4 s .........1947 VI-N '118 ...... 113 j n y ’98
112 116
2d ext gold 5s....... ,...1919 M116 ....... 119% Aug’98
110%119%
8d ext gold 4%s ........1923 .11-8 i t a * ...... 112% 112%
108 113
4th ext gold 6a........1920 A -O 118 ...... 1 17 J’ne’9»
113 118
5th ext gold 4s......... 1928 J - D 103 105
104% J’ne'98
104%105
1st consol gold 7s.....1920 M- i8 143 ....... 142
•42
138 14794
1st consol gold fd 7s.. 1920 VI- S
140 May’98
140 143
Long Dock oon gold 6s.l935 A -O 187 189
138 Aug’98
183%189
Bull N Y A Erie 1st 7a.l9l6 J - D ....... 140
133 J'ne'Wb
133 133
Buff A 8 W gold 0a....1908 J - J
Small.............................J - J
JefJ RR 1st gu gold 5s. 1909 A-O) 103
100 Feb.’08
106 100
Chic A Erie 1st g 5s... 1082 Vl-N
.11 1
111% Sep.’ 98
108 113%
Coal A RR 1st c gu 6a. 1922 VI-N ■ioo
Dock A Imp 1st cur 0s. 19 Lt J - J
N Y A Green L g u g 58.1046 VI-N
io7 105% Oct,’ 97
Small...............................
■rie 1st con g 4s pr bda.1996 J -J “ ! ! ! ! 'V s x 98”
*98%
849i 94%
Registered..............1996 J - J
1stoon gen lien g 4s....1990 J - J *72 Sale
V i’ *
*7*2%
06
70
Registered.. .. . . .. . . . 1996 .1 - J
N Y 8 A W —1st ref 5s. 1987 J - J iba j i Sale I tbs* * ibs%
90* * 108k
2d gold 4%».............1937 F -A
80
90U 02% A u g'08
84% 02%
General 5a............ 1940 F- A ' ........
90
90
83
08
Terminal 1st g 5s.... 1943 VI -N
109% J 'ly '98
100%111%
Regis #5,000 each. 1943 VI-N
WIlkAEaslftt ca g5«1042 J - D
100 Aug’98
93%; 10TJ*
Mid RRofNJ f»tg6»1910 A - U
120% Aug'98
114% i 2 i
;
■ •can A L Sup.
C A N W.I
05
■ ireka Springs 1st g 6s. 1933, F - A ' 00
05 Nov
l r A T H 1st con *:*...... 1921 J - J 111%...... 114 J’ly ’98
112 118
1st general gold 6®..,.1942 ,Y-o
89%
91%
91% Side
| 82 9191
Ml Vernon 1st 6s.......1928 A - O
»0 .....
Bull Co Br’ch 1st g 5s..l03O| A -Q
BvAlud 1st Gong’ g 0s., 1926 J - J
ll
89
77% 89%
Fargo A So.
Ch M A 81 P.

Cnu

Hi

lr

See

mm

St

X

See

■C

See

See

tl

See

See

See

See
See

D

See

See
See

I

See

H

&
9%

a

See

See

BONDS.

fSn«i ?*ecu ritlr**.___j Bid. v«
Chart lore Valley Gna., ... j ....... j. . .
ChIoago Cenau reora 1st 5s ....... »10
Chicago Gas
N Y Sto ck Ex Ito
Cicero Gaa Co 1st6s,.....! ..... I...
I 204 j209
OinclnuftU as & C
«jlty Gas (Norfolk V
39
37
106
1st 6s...............
Go)ambus (O) Gns—
UlOO |
1n 5s 1932.......
t
Consnlidft! G iui I Bn
:iiuii i
Consol id Gas (N J)
.% u w
----Ga* n ils

—See
O

08
8o%
!

/'rice
F riday,
Sept. 9

.
i'iint A Pere M g 0s. ...192ft] A- O
1st cousol gold 6s___1939 VI-N
Pt Huron Div ltd g 5s. 1939 A - O'
Fla Ccu A Pen 1si g 5a 19 8 J - J
1 t land gr ext gold 5a, 1080 J - J;
w
Cotmol gold 5»...........1943 !J - J j
Ft 8 u V B Bun.
<
£
St LAS K
.
Fort St U D Co 1»t g 4%e 194 i .1 - J
Ft W
l> C—lat g 4-0s 192 1 J - D
FT W A ~ Ur latg 3-Is. 1928 J - J
Rio
Fulton Kiev.
Kings Co El.
/ *ul 1 ar A S A .
1
P (’o.
' Jul UAH of *83 1st 6s, 1013
Ga A A In Ry 1st pf g 5s. 1 ft! A- O
04
Ga Cur A No 1st gu g 5«. 1929 J - J
Georgia Pacific.
8o Ry.
Grand Rap A Ind.
Pu Co.
an A St j.
CBAQ
ouKutonlc.
NYNHAIL
Houst K & W T 1st g 5n. 1933 VI-N98% 24
Hons A Tex Ceu.
So P Co.
I lllnois Ceut 1st g 4s... 1951 .1 - J 1 1 0 % .......
1 Registered..........1951 J - J 1 0 9 % .......
1st gold 8%s..............1051 J - J
Registered.............1951 J - J 101% 10?%
1st gold 3s sterling. ...1051 VI- 8
Registered........ ....1051 VI-S
Coll Trust gold 4a......1952 A - O 101% 104
Registered. . , , , 1952 A - 0
L N O A Tex gold 4s. .1053 M- N io i% ib*2%
Registered..............1953 M-N
Col) tr 3-1 gold 4s.... 1004 J - J
0
Registered........ ....1904 .1 - J
Western Line Istg4s.l951 FRegistered............. 1951 F- A
Louisville Div g 3%a . 1953 J - J
04%
Regist ered ............ 1958 J - J
*8*6*'
St Louis Div g 3s......1951 J - .1
Registered.......
1951 J - J
9*4%
Gold 8%a..............1951 J - J
Registered........ .1951 J - J
Cairo Bridge gold 4s, .10Oo J - D
Registered
1050 J - D
Middle Div reg 5a.,...1921 F- A
Spring Div 1st g 3%s.l951 J - J
Registered............,1951 J - J
Chic St L A N O g 5a.. 10o 1 J - D 123 124
Registered........ ...1951 J -I )
Gold 3%s................ 1951 J - D
Registered.........1051 J - I )
Mem Div 1st g 4s.... 1951 J - D
Registered......... 1951 J - U
Bellev A Car lat 0s.... 1923 J - D 117%.
90
.
St L Sou 1st gu g 4a... 1931 M89 .
Carb A S latg 4a....... 1032 VI
Ind B1 A W.
C O C A St L.
Ind Dec A W lat g 5s.. ..1935 J - J 100 .....
95 .....
Did LU A la 1st gold 4g. .1939 J - D
100 ......
lat ext gold 5a----.....1043 VI
Int A Gt No let gold 6s. 1919 M-N ' .......124
2d gold 5s...................1909 M- S
87
89
8d gold 4a.................. 1921 M- ? . . .. . . 60
■
Iowa Central 1at gold 5s. 1988 J - D ' lo 4 105
Lowa Midland. SaaCh A N W.
Jefferson RR.
Erie.
al A AG R.
L S A M 8.
an A Mich.
Tol A O C.
K 0 A MR&B 1at gu g 5s, 1920 A -O
77% 78%'
C P A G lat A col g 5s. 1028 A -O
78 Sai®
Kan C & Pac,
M K A T.
Kansas Mid.
St L A 8 F
Keutuckv Cent.
LAN.
Keok A Des M.
C R 1 A P.
57
Kings Co El ser A lat g 5a ’25 .1 - J
Ful El 1st gu g 5s ser A .’29 V I-8
45
Knoxville A Ohio.
8o Ry.
ake Erie A W lat g 5s. 1037 .1 - J
. 117%
2d gold 5s...............1941 J - J 102 % .
108%
North Ohio 1st gu 5s, , 1945 A- O
Lake Shore A Mich SouthDot Mon A Tol lat 7u. 1900 F - A
Labe Shore dirtd 7a... 1899 A - 0 '104% ,
Consol 1st ?»,........lOOii J - J 106% .
Registered ........1900 Q-JS 106% .
Coneol 2d 7a ...........1008 J - D 117 .
Registered......... 1908 J - D 117
Gold 3%a................ 1997 J - D
. 100%
Registered......... 1907 J - D
CinASp lstguLSAM 87a 01 A - 0
K A AG R 1st guc5s. 1088 J - J
Mahon Coal RR let 5s.'84 J - J
Leh Val (Pa) coll g Be .1997 VI-N
Registered............... 1907 Vi-N
Leh V N Y lat gn g4%s..l940 J - J 102
Registered................1940 J - J
Leh V Ter Ry latgu g Cal941 A -O 111
Registered ............... .1941 A -O
. Ill
L V Coal Co 1st gu g 5a.. 1938 J - J
Registered.......
1983 J -J
90
Leh A N Y lat gu g 4s. ..1945 M -S
Registered....... .
1946 M -8
El C A N lBt. g lat pf08.1014 A - 0
Gold guar 5s......... 1914 A - 0
Leh A Wilkesb.
Cent N.I.
Leroy A Coney Val,
Mo P.
Lex A v A P F.
Met 8t Ry.
Llfcch Car A W 1st g 6s.. 1916 J -J
Little RAMem latg 5a 1987 )
29 Sale
Trust Co certts............)
Long Dock.
Erie.
Long Inland—
lat con g 5b................1981 O-JJ
1st con g 4 s .............. 1031
8ft
General gold 4s....... 1938 .T - u
Ferry lat gold 4%s....l022 VI-8
85
Gold 4s..................... 1932 J - D
Debenture gold 5s..... 1984 J - D
N V A tt B 1st g B*.... 1927 M- H
2d income........... 1927 Hen
N Y B A M B con g 5s.. 1985 A - O

F

\

&

H

See

See

See ?

See
See
See
See
See

A

K

K

I

Week's
R ange or
Last Sale.
Lotc. Hiah

m

117 Aug’98!
9 1 Aug’98
95% Aug'98]

j o, I
V

Range
‘r o m
la n. I ,
a

L o w . H ig h

I 10
85

83

117%
95

95%

........

105
75
62

M ar,0^
7
Sep.’08

97
103
92

97%
Aug’97
J’ly *96

04

94%

Mll

105 105
65
79%
51% 64
S8% 97%
* * ** 92**
92

88

94%

109% Aug’98
109^ J’ly *98'
105 Mar'U102%Apr.’9*

•09% 115
108% 109%
105 105
101 102%

104
104
103 Apr.'W
101% 101%
101 Mar’v
90 Sep.’9

100
1
03
07%
101

104
103
102%
101

103% Aug'08

•01

105

9
*4
8*6"

Sep.’OS

92% *94%

"80

8*6” **8 ”
*5

94% SepJ 08

02% 94%

123 Aug’98
118% Apr M

U5% 123%

103% Jan.’9
.'

1 *3 1 *3
*0 % *0 %

9
*6

-b

Sec

Nov’0

101% Aug‘98
80 Jan.'vn-

97
86

104
88

'20% Aug’98
87 Sep.’98
6 f*% Aug’08
104
104

116
78
44
07

133%
92
60
105

40
85

59
49

115
95

117%
104%

100

102

See
See
See

77%

See
See
See
See

See

L

’ No priceFn lay, th ?11 a - . I iteat bid an J aised this week, t Bunds dua August,

O U T S ID E S E C U R I T I E S

!n

J
N .Y . 6TO OK E X C H A N G E ! * £ |
W e e k E n d in g S k i t . 9
-ca!

[Vol. lxvii.

See
See
See

78H

57% Aug’98
49 J’l y ’9h
U0
102
101

lift
103
Aug’08

191 121
104% 106%
105% 110
105% I09J,

•21 Apr.’W
1
04% Aug‘98
107
107
106% Sep.’u8
I 17 Aug'98
115% J ue’9*
100

If 6%

125
104

Dec’07
Aug’08

101

Sep.1
08

*9 ” 104%
*6

t il
Aug’98
100% J’ly ’0 -

ib*7* 112%

106% Aug’98
108% Dec ’0*
104

104

02% M a r’ 98

02%

91

Aug’98

« i ” *98**

101

Sep.’97

10

See

i B j u Js due April.

60

119% J’ne’08
90 J’ue’98
86% Apr.‘98
100

92%

29

29

117

120

85% *90**
80% 90

May’07

107% Deo'07

I Bauds duo January. § Bonds duo July.
I

(G iv e n at foot of 7 consecutive pa g es ).— GAS

Bid A*k.
_
rl 11 h.
«*
Bid. A 8k,
Indiana Naidt 111 GaO—8tk 52 56
j Ctin. Gn> Pitt*. Prof,..*| nil
71
76
1st Bsl968
MAN
Bonds 6
a
.
,
:ooH 106%
ludianapftBs Gas—Block 115 120
CdtKUffl Gas (J City)- *Stk 75
78
1st 6e 1 0 2 0 ........... MAN 105 100
1st 0a..................MAN 10!
103
Jersey City Gas Light,... 190
Detroit Gas—
N T S M k List.
»c
Consol 5s 1018
Laclede fins—N Y Stock Rxch,
V. Ex. List.
79
luemno 5 s ................ .
Lttfuvett® (Ind) Gas—B
t.fc 75
1
lat 0a 1924
.MAN ' 87^ 9
Denver Consolidated G
55
Logan apt A W ab V ai— Stk i 52
■
Fort tvnyuo God)—8to k 70
74
74
iH «s 1025 ......... J&Dl 72
<
1st fls 1925........... 1^J
85
90
90
Louisville
Light..... j
Grand Rapids—8tbck.....
80
83
in
Madison (\?i») Gas—Stckj 0 6
, lat 5s 1915.........FA A 5 1 0 0 % 102
101
1Hanford ten Ga« I. . .25 t 42
1 t 08 12 >c..........A AO ■
8
45
(la s •seen rl *»cm

—See N
v*

i V3H

SBCURTTfES, £c

Gns
-fl,M em phis SaonflrlsM.
Gao..........

J Bid. Ask.
M'»m G as 08 • ftio ... MAS Hd 3 105
Now Orleunw Qua L ig h t . 105% no%
O hio A In d ia n a —S to c k ... 53 56
la t 0H 1030 ...............J& D 00 72
Peoples Gas & Coke—N Y Stock Erck
P h ilad elp h ia C o ............. 50
33
P o rtla n d (M e) Gan I,...50 IS* 90
8t Joseph (M o )..............
34
35%
5a 1937.............
t&j
90
92
St Paul Gas—Stock. „ . ...
46
Consol 5e 1944 ....MAS $ 82

5And

50
80

+t*nce p e r «h a re

T H E C H R O N IC L E .—BOND PRICES (5 pages)

S ept . 10, 1898.]

Week s
Range
R ange or " I ts fro m
L ast Sale. | 2 Jan. 1 .
Bid. Ask. Low. H igh. No Low.High.
Price
F rid a y ,
Sept. 9.

BONOS
N .Y . STOCK E X C H A N G E
W e e k E n d in g S e p t . 9.
Long Island (Con.)
Bklyu & Mon 1st g 0s. 1911
1st 5s.................... 1911
Nor Sh b istcon ggu5s..’32
N Y Bay Ex R lstgug5s'43
Moutauk Ex gu g 5s. ..1945
La & Mo Riv.
Cbl
Alt.
L E & S t LConcug5s.l939. /
Tr Co certs.................... )
General gold 4s.......... 1943
Lou & Nash—Jecel Br 7s 1907
N O & M 1st g 0s........193
2d gold 0s............... 1930
E H A Nash Istg 0s... 191 w
General gold 0s.......... 1930
Pensacola div gold 08.1 9 2 0
8 t L div 1st g 0s......... 1921

See

&

40 Aug’9S
9% Aug'Mi
106 Nov’97
122% Aug’98
108 Aug’98
*114 ....... 115 Aug’98
113
U9
* ....... 119
108 ....... 103% Sep.’0?
121 J’ly ’97
.......

40

1 0 2 % .......
*120 .......
*lu 0 .......

M-

t

105
....... ibo%
89% Sale

J’l y ’98

1 0 0 % Aug’98

101% Aug’98
89%
89%

.......109
?.......104

£

l»37j*f-

97
9L
*109

103% Aug’98
104
104
109% J’ly ’98
97
97
Sale
Sale
91
22
....... 103 Jan.’98

L Jetf Bgtj (Jo gu g 43.1945 11X N A A C.
,
0 1 A L.

See

M

alien Coal.

See

See LS4.V1S.;

109

Mar’98

94
95
117
117
t 0 8 « ....... 103% Aug’98
94

McK’pt A B V.
P MoK.fcY.
Metropolitan El. See Man Ry.
Met St Ry gen c tr g os.. 1997
Bw»yji7th A v lstc g 5s. 1943
Registered............ 1943
Col& 9th A v 1 gu g 5s. 1993
St

Sale

113 Sale 113
140%....... 120

113%
120%

12 0

120%

119%....... 120

J’ly ’98

03

Apr.’98

120

Mex Cetit con gold 4s... 1911 J 1st con Income g 3a... 1939; J’l
id con income g 3s.... 1939 J’l
Equip A coll g fis....... 1917 A Mex Internal 1st con g 49 .’7 ?!M-

Sale

..................
70

Sale

76

70%

2d Inc 0s A t.p slmpd. 191 M-t
7
13 J’ly ’97
2d income gold 0s B .1917 An
97 ....... 97 Feb ’97
Mex North 1st gold 0s.. 1910 J - J
Registered............... 1910 J - j
115 A ug’98
Mich Ceut—Istcon 7s.. 190 l i ­ *....... il5
106% Sep.’98
es.............................1909.M122 Feo.’W
M
121% J’ne’98
Reglstered.............. 1931 1
• 12554....... 125% Jan.‘08
100 Feb.’98
4s.............................. 1940 .
Registered..............1 9 4 n ,
108 Jan.’98
Bat C A stur 1st gu g 3s '89!.
Mid of N J.
N Y Sus A V
V
Mil El Ry A L 3 o-y. g 5s. 192m F -A
M L a A W.
Chic A N V
V
Mil A Mad.
Chic A N W
MU & North.
Ch M A St P
MU A St P See Ch M A St P
Min A St L go.
B C HAN
*14C 150 143 J’l y ’97
•....... 1 0 S
138
108
Iowa ex 1 gold 7s... 1909 .1Bt

z

See
See
See
See
See

is o ’ *
M 8 8 MAA Istg4sm t gu '20 J MBtPASSM con g 4s mtgu’SM J Minn St Ry Istcon g 5s. I919j J Minn Un.
St P M AM . |
Mo Kan A Tex—lstg 4s. 199<» J 2d gold 4s........ ......l9tfo K-g
1st ex ten gold 5s.......1941 M
M K A T or T 1st gag 5s ’42 V
iK C A Pac lstg 4a.... 1000 F-

See

Mo K A E 1st gu g 5s. ..1 9 4 2 A Mo Pao—1st con g 0s. ..1920 VI8 d 7s........................ lVun M-

89% Sale
64% Sale
• 80
75
83

89%
04

89%
05
88 Aug’98
....... 87% Aug’98
75% 75% Au*’98
Sale
83
83%

Sale

i b a " Aug’98
104
105|s
112
113
83
83

Pac R of Mo 1st ex g 4s .’8hi F2d extended gold 5s. 1938! J *

*101%105
....... n o

103% Aug’98
100% J’ly ’98

S tL A I Mt lstextg4%s.'47

107 Aug’98
n o 7 « ...... 107% J’ly ’98
1 0 0 % ...... 106% J’ly ’98
99 Sale
99
09%
*....... 100
100 Aug’98

104

112

83

8 ale
8 ale

■8 «
?

Gen con stam p gtd g 5s ’3 1
MlssRIvBdge. See Chic A Alt
MohABtrm prior lien g 5s.’45
Small............................
Income gold 4a..........1945
Small............................
Mob A Ohio new gold 0s. .'27
1st extension gold 0s. 1927
7*1
Mohawk A Mai. See N Y C A 1 1
1
Monongahela Riv. See B A O
Mont Cent. See St P M A M I

Week’s
Range
$g
Range or
'rom
If
Last Sale.
‘a
/ * n. 1.
Bid. Ask. Low. High. Ho. Low .H igh.
Price
F rid a y,
Sept. 9.

dontauk Ext,
Long Is.
Morgan’s La A T. See S P Co.
dorris A Essex. See Del LAW
ash Chat A St L let 7s.’ 13 J - J ISO
130
130
..............
2d 0s ................. 1901 „ -J
105% Nov’97
J ..
104
1 st con gold 5s..........1928 A - O
. 103% 104
1st 0s T A P b ........... 1917lj _ J
1st 0s McM M W A A l. 1917] J _ j
32
40
1st gold 0s Jasper Bch. 1923 J -J
Nash Flor A Shef.
LAN
New H A D .
NYNHAH
120% 124% N J June RR.
N Y Cent.
106 108
N J Southern. See Cent N J.
113 117
New A Cin Bdge.
Penn Co
* 2 116% 1 2 0 % NO A N E prior lien g 0s. 1915 A-01!
N Y B A Man Bch. See L I.
N Y Bay Exten RR.
L 1
.
N Y Cent A Hud L
t—
.... 105 105
1st 7s.....................,,1903 J - J 110% 117 116% Sep.’98
Registered............ 1903 J -J 116% ....
115% Aug’98
94 ib l
108% 108%
Debenture 5s of. 1884-1904 M- S 108* ....
Registered ....1884-1904 M- S 108% ....
100%104%
110% J’ly ’98
‘ 2 b 83
Reg deb 5s of .. . 1889-1904 M -8 108% ....
91%
109% Sep.’9?
Debenture g 4s.. 1800*1005 J - D 104% ....
105 Aug’98
104% Feb.’98
104% ....
90% 109 1
Registered..... 1890-1905 J - D
7 10 1 % 108^1 Debt certs ext g 4s.... 1905
1
105 ....
104% J’ly ’98
108 109s*
104% J’ne’98
10J% ....
Registered...............1905
*’ 5 87% 98
6 3^8........................ 1997 J - J 100% 107% 107% Aug’98
8 85 92
Registered...............1997 J - J
104% J’ly ’« *
.... 103 103
Lake Shore col g 3%s 1998 F -A * 9 4 % Sale
94%
95%
Registered............. 1998 F -A
94 Aug’9«
Mich Cent coU g 3%a.. 1998 F -A
93%
94
93% Sale
103 109
Registered............. 1998 F -A
107% J’ne'98
107
Harlem 1st 7s............1900
107
Registered..............1900
107% Aug’98
0 0 08%
0 114% 119%
103 May’9"
N J June R gu 1st 4s. 1930 F -A
Registered..............1980 F -A
101 105
::::
West Shore 1st 4s gu.2301 J -J 109% Sale 109% 110
Registered..............2301 J - J 108% 109% 109% 109%
108% Nov’97
Beech Crk 1st gu g 4s. 1930 J - J
100 J’ne’98
Registered..............1930 J - J
20 108)4 110)4
2d gu gold 5s.......... 1930 J - J
Registered.............. 1936 J - J
[114)4 1 5 )4
52
2
Clearheld Bitum Coal Corp
20 110 123%
1st s f int gu g 4s ser A .’40 J - J
95 J’ly ’98
Small bonds series B ..’4o J -J
Gouv AUswe lstgug5s.’42 J - D
117 123%
R W AOgcou l8text5s.’22 A-Oi 125 126% 125
.... 6 8
0 0 % Nor A Mont 1st gu g 5s.’ 10 A - O
R W A O T R IstgugSs. IS 31-N
Oswe A R 2d gu g 5s .1015
114
................
107 Aug’98
Utica A Blk Ulvgu g 4s.”22 J - J
54 70)4 7854
Mob A Mai 1st gu g4s. 1991 M-M
Cart A Ad 1st gu g 4s. 1081 J - D
N Y A Put 1st con gu g 4s.*93 A -O
. 127 123 .I’ne’O
®
N Y A North lstg 5s.. 1927
N Y Chic A St L lstg 4s. 1037 A -O
. 100% 100 Sep.’9S
104 A y r.’9<
Registered.................1037
110 115% N Y AGreenw Lake.
Erie
102 % 108% N Y A Uur.
N Y C A Hud.
122 123
N Y Lack & W.
DLAV
V
121 127
N Y I, E A V
V.
Erie.
Long Is.
.... 125%125% N Y & Man Bcb.
100 106 N Y A N E.
N YN HA H
104% Oct,’9
N Y N H A Hart lstreg4s.*03 J - D
108 108
Convert deb certs $ 1,000 .. A - O 100% 105 100 Ang’98
155 Sep. *98
Small certfa $100..........
120% Aug’98
I lousatonic H con g 5s. 1037 M -N
N H A Derby con 5s... 1918 31-N
N Y A N E 1st 7s.......1905 J - J 1 2 0 % Sale 120% 12f %
1st 0s..................... 1905 J -J 114%...... 114 Aug’98
N Y A North.
NYC411
N Y O A W con 1st g 5s. 1939 J - D 107 Sale
99 100
Refunding lstg 4s.... 1992 M-SI
1 1 0 0 % 108%
Regis $5,000 only... 1002 M-SJ
N Y A Put.
N Y C * H.
N Y A R B.
Long 1 .
*1
N Y S A W.
Erie.
N Y 'Tex A M.
So Pac Co.
North Illinois. S««Chl A NW.
North Ohio
L Erie A W.
Northern Pactflo—
God 1st RR A L G sfg0s.’2l J - J 114 115 114 Aug’98
22 82% 92%
Registered.............. 1921 J - J M14% 110 110 J’ne’977 57
8 t P A N P gen g 0s... 1923 F -A H28 ...... 180 Aug'98
67%
127 J’l y '98
Registered otfs....... 1923 o - F
83% 88
101
101%
80
99
Prior lien r A 1g g 4s. .1007 S - J
100% Aug’98
71
70
Registered.............. 1097
478
07%
09
*9 75
General lien g 8 s....... 2047
84%
08 8 ale
Registered .............2047
114 Aug’98
Nor Pac Ter Co 1st g 0s. 1038
‘ 93%102" Nor Ry Cai. SesCent Pac.
C St P M A O.
*3
1* 93 107% Nor Wls.
102 J’ne’98
Nor A South lstg 5s.... 1941 31-N 102
9 103%112
5 05% 87% Nor A West gen g 0s. ...1031 31-N ♦123 125 122 Aug’98
New River lstg 0s___1932 A -O 124 ...... 124 Sep.’98
Imprvmt A ext g 0s.. .1034 F -A 117%...... 117% Aug’98 . . .
1 00
80
C C A T 1st gu g 5a.... 1922 J - J 103 ...... 101 ieD 9
15
90
91
Scio VAN E Istgug4s.l989 M-N
90 ......
106 100
70
85%
80
N A W Ry Istcong 4s. 1900 A -O
85% Sale
!!!! 105% 109
Registered............. 1990 A -O
Small..................... 1990 A - O
107 110% Nor A Mont.
N.Y.Cent.
102% 107%
g A L Ch 1 con 0s..1920 A - O
Bt
Incom e...............102 0 A -O
102 108
Income small.................. A - O
35 80 1 0 0 %
80 100
O In d A W . See C C C A St L.
Ohio A Miss. See BAO S W.
102 Jan.’98
Ohio River RR lstg 5s.. 1030 J - D
General gold 5s...........1937 A - O
84
Ohio Southern lstg 6s..1921 J - D
85% 81
8
9
General gold 4s.......... 1921 M -N
8
Eng Tr Co certfs....................
8%
8%
8
.... 118% 123
80 Aug’98
Om A St L 1st g 4s....... 1901 J - J
83
3 70
81
Ore A Cal.
8 o Pao Co.
97% 102
OreRy ANav Istsf g 0s. 1909 J - J 114% 114% 114% 114%
99% 10n
Ore RR A Nav con g 4s.. 194rt J - D
09% Sale
127% Sep.’98
Ore Short Line 1st g 6 s. 1922 F - A ....... 127
121 J’ue’98
Utah A Nor lBt 7s....... 1908 J - ,J
102 May’97
Gold 58................... 1920 J - J

20
121
76

102

♦ 82

7854

.......

122%

122

Aug’98

Sale
70
1 0 2 % 102
.......

70
Aug’98

....

O U T S ID E S E C U R I T I E S
O n i 8 » c n r l U n.
Syracuse Gas—atock.....
17%
1st 5s 194U...........J&.J _
89
Western Gas(Milw)—Stck List,
6s—
N Y Stock Bxch
T e le g . A Trleph u!
American Digt Tele—NY Sto ck E x c h
American Tel A Cab—NY S to c k ’ E x c b
Central A South Ainer.... 107 ,100
Chen A Poto Telepb—St k W
47 1 35
Bond 5s....... ............ I \ng%
I08M
Commercial Cable......... 170 .........
170
Commer Union Tel (N Y) 1 10 | ll 3
1 0

q

(G

iv e n

-

a t

131%

100

105

See

31-N
31-N

31-N
31-N

113%119%
113% 119
106 113
100 111

%

102* * 105**
104% 104W
100% 105%
104 105
105% 107%
104% 104%
94
96%
94
95
91% 95
107% 109%
107%109%
102 % 110 %

101% 110

100

100

119% 125

F-AI

See

See

See
See
See

See

107

107

A-O
A-O

123
100
104

120
107%
104

125 ......

See

107 107
99% 09%

See
See
See
See
See

447

in

See

O

foot

of

7

145 100
145 158%
126% 120%
119** 120%
113% 114
100
90

109
102%

118 119%
112 119
124 130
124% 127
90% 101%
98 100%
57
69
104

114

102
120
118
117

105
125%
124
112M

82
74«

01)4
878

See

See

T f lf U . a T* |#-ph.
V
Erie Teleg & Telephone..
Franklin.......................
Gold A Stock.................
Bonds........................
Hudson ltlver Telephone
Intenintlon Ocean.,
Mexican Telegraph,
Mexican Telephone.... 10
New Eng Tolep
Boat
Northwestern Telegraph.
N Y A N J Telephone.

—See

128

See
See
See
See

• NO into* Kriii iy, those are latest bid and asked this week, t Bonds due Jan. $ Bonds duo July. || Bonds due June,

See

519

3

N

B m i«d (S S A )g 6 s ....l» iu A 8 * N A cougug Ss....lwanjf
Sold 5s..... .............. 1087 -WCmaed 48...............194U J -

N Fla A 8 U tgugoa

BONDS.
N . Y . STOCK E X C H A N G E
W e e k E n d in g Se p t . 9.

P age

c o n s e c u t iv e

pa g e s

).—

IAsk.
T e le g . A
92
74)4 Southern & Atlantic.......
44 | West’u Union Telog—N Y Btock
40
110 .......
90
77 I Allegheny Co Light Co... 130
76
Brush Electric C o........
40
109 112
195 205 I Br’dgprt (Ct) El Lt Co.25 + 82%
05C. I Consol Electric Storage..
18
Eddy Electric Mfg Co..25 t .....
c * lisi
*a
l Edison El 11 Co NY—N Y Stock
1
112
1
149% 150% | Edison El 11Co Brk—N Y Stock
i Edison Ore Milling Co...
107
1
1
-^

E lectric C om panies.

i

102

102

85%
ou
15
8
8% 14)4
82
75
110
100%
128
121

111
89
118
121

Bonds duo May. T Bonds due N o t .

TEL. & ELECTRIC, &c.

A«k. II K l r c i r l c C o m p a n i e s
East End Electric LightElect ro-Pneumntlc..... .
1%
1
8c.
Fort. Wayne Elec. C o..25
Series A ............ »■»•*
General Electrlo Co—N Y Stock
140
Do pref
Boston L 1st
50
Hartford (Ct) ElecLt Co. 120
35
10
Hartf’d(Ct) LtAPowCo25
20
15
Mo Edison Electric,
15
41
43
Do preferred..... ..
Bxoh
Bxch Narragan. (Prov)El Co.50 t 83% 87
Npw TThv (Ct.v Elec Lt Co 175
14

H

.—See

+ xijj

THE C H R O N IC LE.—BOND PRICES (5 pages) Page 4.

520
BONDS.
K .Y .8 T O C K E X C H A N G E i X
WKXK. E s d i n q S k i t . 9.

Range, j
HecA*'*
Price I Week's
Rrxcc
•5-3
R ange
SBONDS.
fro m
F riday, Range or
from
i& F rid a y , R ange or IN
Jan. 1. N .Y . STOCK E X C H A N G E J gf Sept. 5. Las! Sale.
Sept. 9. L a st Sale.
J a n t 1.
W e e k E n d in g S k p t . 9.
B id A ik. Low. H igh. No. Lotc. H igti
liid . A sk . Low . H igh. No Low.H igh.
|
1
3 96 108% Sav F A W 1st eon g Os. 1934 A - Ol

Ore 8b lr —1st oou g 3*... ltGOJ * J 107 Sale
Non-cutu luc A »®. ..*.1940 Sop,* ♦....... 75
Nosi’Ou too B c »5tr. - 1046 Oot,
<
57% Sale
Otwogo A Homo.
X V C
O O F A St
A N W
u Cua»tCo—l&t g&:». HU6 J - I 105 100
.c
Mi Of Misuari.
Mo l*ae
Panama
fg 4)|5....191T'A- O
8 subsidy g ..........1010 M~N
Pennsylvania Co—
Penn Co gu l»t 4% ».1031 J * J • n s .......
Registered....... ... .. 1931 J - J
Gtd 3%scol trust reg. 1037 M~ t
9 9 % .......
P C C A at L ©on gu g %*—
Scries A -........... .. . m o IA - O I l i ' j .......
Series II guar....... „194S
m % ......
Berios C gutur.......... 1043 M- N
Series D 4b guar..... 1045 M-N 1 10 a .......
Puts C j A St L 1st 7s. 1000 F- A
’U
Registered........... .. 1000 F- A
Pitts Ft W A C 1st 78.1012 J - J
2d 7s....................... 1012 J - J
Sd 78................ *....1912
C B t L & P 1st con g 5s. 1032 a -O
Registered.......
1032 A - <)
Oio* A Pitts con e I 78.19001 M -N
Geu gug le s s e r’s A. 10121 -J
J
Series B........
10421 - O
A
Gr HA 1ex 1st g u g 4%s. 1041 j - J
Allegh Yal gcM gu g 4s. 1042! HI- S
i
ACBdgegengug4% s.’45 .1 - J
Penn HR 1st real es 4».1923 M -N
Con sterling g 6a......1005 J - J

P

t

Jt
Sic
V. .<(' C
Set
IsXn
e

*

107
75
57%

107
75
58

105%

100

118
no

113
J’ly *98

112% 113
112% Aug'98
108 Oet/97
108 J’ne’98
109% A p r'97
140 May’98
140 Aug'98
112% A p r’97
107

May’98

102

Nov’*9
7

u

....... 104# OctPO?! .... ..................
81%
| 1st g 5»..................... 193 1 A - O
5«%| Scioto Va! A N E.
Nor A W |
Scab A Boa 1st fia,....... lOSOjJ - J 108 ...... 104$CFob. *68
jl04M 10494
Sea A B Bdge.
Bklyn El.
87 102 10.1)4 Sod Buy A So ltd g 5s... 1024 | - J
J
3o Car A Ga 1st g 5s___ 1919,M-N
03 Sale
99
*90 I
'92*‘ ”09^
Southern Pucltio Co—
Gal liar A S A 1st g 68.1910 F - A *105
107 Jan.’OS
107 107
2d g 7s............ .
1905 J - D 105
105 J’Jy’OS!..... 100 105^4
!
1 108 114
08 Sale
3 ex A Puodiv lstg 5s.’3 1 M -N
1
98
98J<
92
08^
1 10
Hous A T C 1st W A N 7».‘0;s J - J
1st g 5s int gtd.......1037 J - .5
107%111%
................
Con g Os Int gtd .....1912 A -O
105 110
5 100%113
Gen g 4 int gtd......1021 jA - O
w
76% 88%
.... 1
108 113
Mo rgan ’a La A T 1at g Os.’20 J - J
120%120%
! ,,
1st 7».....................19181A - O
127 127
N Y T A Mex gu 1stg *is.’ 12 A - O
Ore A Cal 3st gtd g 5s. 1927 J - J
|l06% ib’s**
75 Jan.'98 , . , ”75” *75*
8 A A A Pass 1st gu g 4a. *43 J - J
60^4
68^
55% 71
Tex A N O 1st 7s....... 1905 F- A
110 3far’U
140 140M
n o 140 !
Sabinediv 1st g 6s.. 1012 M~ S
106M Nov’0
301
Con g 58 ............... 1943 J - J ................ . 10*
96% 101%
8o Pof Argu lstg 6a.’09-10 J -3: ....... i03& ,108^ 108V4
100%109%
jl 10H Aug’98
*U 0 «
S P of Cai ls tg 6s.’05-12, A - O -------106% 110%
jib? 109
1st con guar g 5s. .1037 M- N 102^ Sale 102^ 192k,
92% 102%
A A N W 1st gu g 5». 1041 J - .1 * 85 ......
80>* Aug'98
81% 87%
8 P Coast 1st gu g 4s.. 1937 J - J
2 105%110%
1
....
8 Pacof N Mex 1st g Ca.'l t J --J * 97% 07% 109% 110
J
142 87
~
97
98%
: : : : : : : : : : : : South Ry—1st con g 5s.. 190-11J - J l 97 Sale
98
Registered............. 1994 .1 - .11 ........
I«
108 J’ly ’98
Mem Dlv lstg 1-4&-8S1888 J - Jj 11HM
103 108
Registered.............1996!J - J
96
E Ten reor lien g 4-5s. 1938 itt-s 100 Sale 1 0 o'* 10 6
Registered............. 1938 M -S ......
Ala Cen R 1st g 6s — 1918 J - J 112
112% A u g ’97
Atl A Ch Air Line ino.1900 A -O
Col A Greenv 1st o-Os.1916 .1 -J
110 Dec '0
105% 108
115% 115% K T Va A Ga 1st 7s.... 1900 J - J ‘100 ...... 106% Sep.'OS
112% 115
Divisional g 5b........ 1930 J - J 114 Sale 111
114
107 113%
Con 1st g 5s........ .3056 M-N I13& Sale 113
113%
118 123
95 101%
Ga Pae Ry 1st g 5-6s.. 1922 J - J 121 121% 119 Jn.v’98
112 117%
Knox A Ohio 1st g 6s .1025 J - J
115% Aug’98
06
96
U S 125%
, 125 122% Aug'98
15
18%
Rich A Dan con g 0s. .1915 J - J
Equip sink fund g os. 1909 M -S
L01 Nov’97 ...
Deb 5s stamped.......1927 A - O ....... 107
.... 120 120
■ fiS" *96**
96 J’ne’98
LOO 108
Virginia Mid gen 5s.. .1936 M-N 107 108 108
108
85% 86%
102 107
stamped.........1936 M-N 107 108 107 J’ne’98
87% 90
W 0 A W 1st cy gu 48.1924 P -A
90 Aug’98
110%110%
West N C 1st con g 6s.l914 J - J
113% Aug’98
...
S A N Ala.
L A N.
Spok FallsANor Istg0s.l939 J - J
Stat Isl Ry 1st gu g 4WS.1943
J -J
!...............
Syra Bing A N Y.
DLA W.
100 112 %
rPer A of St. L 1st g 4^3.’39 A -O 110 114% 112% Aug’98
109 ...
105% 110%
j 1st con gold 58.1894-1944 F - A
L
L10 J’ly ’98
St L M Bge Ter gupr5s. 1930 A -O
108 Ocu’9'
Terre Haute Elec R ygGs.’l i Q -Ji
51 104 109% Tex A N O.
So Pac Co.
107% 110%
TexAP Ry E div lstg Os.1905 M -S 106 ...... l OS Aug’98
96% 107%
1st gold 5s............ ...2000 J - D 106% Sale 106% 106%
70% 94
44%
4“
28
50%
44% Sale
2dgoldinc. 5s, D ec...2000
39
53
122% J’ne’08
117% 124
Third Av 1st gold 5s,.. .1937
102 105
141 77M
Tol A O C lst g 0s........1935 J - J *104 ....... 104 Sep.’08
103 105
West’n div 1st g 5a... .1935
105 Aug'9S
General gold 5s........ 1935
76
82%
80 Aug’98
Kan A M 1st gu g 4s. ..1990 A - O * 70
77 Sale
69
78
2 78% 91 Tol Peo A W 1st gold 4».1917 J - J
77
77M
* 88
85% 90
90 Aug’98
91
94% T Si L A K C lst g 6s tr.1916
r
101 100% Aug‘98
98 104
1 Hater A Del 1st eg 5s. 1928
.... 54
06
w rlon Elsv.
Bklyn Elev
Un El (Chi3 ) 1st g5a....1945
98% Sale
93%
99 342 88% 99%
Cn Pae—RR A 1 g g 4s. 1947
98% 98%
16 68% 81
98% Aug'98
Registered................ 1947 J - J
44 59%
Tr CD ct£s 4%a...... 1918
....... 50% 56 Sep.’98
U P DAG 1st 0 g 5strrc.‘39
76
77% 430 48% 79
76% Sale
Uni N J RR AC Co.
Pa HR
Utah A North.
Ore S L.
Utica A Black R. See N Y Cent
er Vsl Ind A W.
Mo P.
irglma 31td,
South Ry,
111 116%
104% 112%
ub RR Co lstg 5s.. 1939 M -N 111% Sale 111% 112
74% 91%
90 Sale
2d gold 5s.......... 1939 F - A
4 113 116%
90
90%
Debenture series A .... 1939 jJ - J
89
32% Sale
Series B.................1939 J - J
32%
35% 421 21
8 114 120M
lstg 5a Del A Oh Ext.. 1041 J - J 104 105 104% Aug'98
07 105%
.23 0 8 « 108)4
108%110
StChaa Bridge l s t g 68.1908]A - O
110 J'ne’98
....
92% 100
Warren RR.
Del L A \Y
Wash OA W.
Southern
103 110
109 108% J’ly ’98
12 09
82% West. N Y A Pa—lstg 5 b, 1937 J - J
58
47% 59%
58 Aug'98
Gen g 3-4a....... ..10431 A - O
90
07%
. 10
lneomo 5b. . . .A pril, 1943 Nov.
10
10 %
10 Aug‘98
Weet No Car. Se€ South Ry.
168 70
81
Western Pac.
Cent Pac.
54 25
35
W Chic St40-yr lstcur5a.'2H M -N
40-year con g 58......... 1936 M -N
99 Dec’9'
West Shore.
N Cent.
115 117
W Va A Pitts.
B A 0.
0 105 109
.... 120 122% W VuCent A P 1st g 6s. 1911 J - J
100% 101%
Wheeling A L E 1st« 5a. 1926 A - O 101%103 101% M ar’98
.... 118% 123
Tru»t Co certlllcfttos.................. 100 ...... 100 Alar’98
100 108
128 132
90 108
Wheel Dlv 1st gold 5s, 1928 J - J
10C Sep/98
92% 92%
92% Mar *98
Extern A Imp gold 5a. .1930 K- A
105%108%
35
30
40% 39 Sep.’98
Consol gold 4s.. . . . . . . .10s ■ .1 - J 35
NY8 A W
7 0 3 % i o i i i Wilkes A East,
wii A Sioux F.
8t P M A M
96
90
CA N W
122% 122% Winona A St P.
WlsCentCo IsttrgSs . .1937'J - J ....... 55% 34 Nov’97
118% 182
04% gale* 52%
33% 56
56
Engraved trust certltlcatep,......
Income 5a.. . . . . . .. . . . .. 1937 A-Ot
4
7%
6% Aug’98
107 109%
0
186

58
30

See
See

no

8 " ” ib*6‘

: :::::
Registered.............. 1919 Q - £
Cong 4s.................... 1948 M -N ...........
Cl A Mar 1st gu 4%s.l935 M-N
U N J R il A Can gen 4a.l04 4 ; '
:::::: :::::: 115% Feb.’98
DRRR.Sc Bge lstgu 4sg."30 P -A f
................
Pensacola A At.
A Nash
*100% ...... 101% Aug’98
Peo Deo A K 1st g6strrec.'20
Evans Div lstg0strrec.’2G
96 J’no’98
2d g 5s tr rec 1st pd..l926
18% J’ue'98
Peo A East.
C C C A St L
Peo A P ek U n lstg 06... 1921 Q 121 ....... 120 May’98
Sdg4% s............Feb., 1021 M -N I 85 ...... 85% May’9c
Pine Creek reg guards. .1032 J- 1)|
137 Nov’97
Pitts Cln
t L.
Penn Co. |
POC4S1L
Penn Co.
Pitts Clev ATol lstgds.. 1922
Pitta A Coanellav. See B A O.
Pitts Ft W A Ch. SeePenn Co.
Pitta Juno 1st g 6s....... 1922 J - J
................. ;
Pitts A L Erie-2ci g 5s .. 1028 A-01
Pitta McK A Yo—lsigu68.’32 J - J
2d guar 6s.................1034 J - J
McKee A B V 1st g 6a. 1918 J - J
Pitts P A F 1st g 5s......1916 J - J •....... 90
Pitta 8h A L E 1st g5s.. 1940 A -O , i*09 ....... 109
109
1st consol gold 5s......1943 J - J
98 J’ly ’97
Pitts A West 1st g 4s... 1917 J - J • 01
98
01% Aug’98
00% 50 Aug'98
Gold 5s..............1891-1941 M -N * 48
Pitta Y*___
*102% 103
_____ A Ash 1st con oa 192“
eading Co gen g 4s... 1907 J - j
82% 8nlo
8254
S3)<
Registered..........19071J - j
Rensselaer Sar.
D & H.
Rich A-*Dan.
South Ry.
Rio Gr Weet le t g 4 s .... 1039 J - J ....... 89^ 90
90
Rio Gr June 1st gu g 5s. 1939 j - u
RlO Gr So tsl g 3-4»......1940 J - J ....... 72
66 J'ne’98
Koch A Pitts.
B R A P.
Rome Wat. &Og
N Y Cent.
Cult Lake C 1st g si 6a. ’03-13 J - J
O t Jo AG I 1st g 2-3-4s.. 1947 J - J 79 Sale
70
7654
citlj A A T II.
Illinois Cent.
Bt L A Cal. See Mob A Oh lo.
8t L A Iron Mount.
M P.
8t L K C A N.
Wabash.
Bt L M Br. See T RR A of StL
Bt Louis A San Francisco—
2d gold 6s Class A , . . . 1906 M -N ....... 116% 1 4 J’ly '08
.1
2d gold 6s Class B ......1900 M -N ....... 1
115% 115%
115
115
.......
1st g 6s Pierce C A O..1910
General gold 6s........1931 J - J i 120 Sale 120
120
General gold 5a......... 1931 J - J ! 105% Sale 105
106
05 ....... 100 J'iy’08
1st trust gold 5 s ...... .1987 A -O
Ft S A V B Bdg 18tg 6s. 1910 A - 0
105 Oct.’07
Kansas Mid 1st g 4s...1037
* *8
0
82
B tL A 8 F RE s 4»,...1906
r
1 81 Bale
81
8t
Southw Dlv 1st g 5s... 1947
97% Aug'98
0t L So.
Illinois Cent.
70% Sale
Bt L 8 W 1st g 4s bdcfs.1980
78
79-H
2d g is Inc bond ctfs ,,1989
....... 35
32%
33%
Bt Paul City Cab. c g 5s. 1937 J - J
Guaranteed gold 5s... 1987
113 113% 117 M ar’98
Bt Paul A Duluth 1st 5s. 1931
107%
A - O 100«107H 107
2d 5s.......................
It Paul M A M t’d 6s...
A -O 121)4....... 122% Aug’98
...... 122 Aug’98
Dakota ext gold 0a.. .1910 M- N
1st consol gold 0s.... . 1983 J - J 132)4 ....... 182 Aug'98
ItORiidored ......... .1933 J - J
Reduced to gold 4%b 1933 J - J 108%
108% Sop/08
Registered.......
J -J
100% Mar’98
Mont Ext i «ii. gold 4». . 1937 J - D 101 Sale 100 % 101
Registered............ .1937 J - D
90 Feb.’O
H
*2
Minn Union lstg 6s.. . 1922 J -J 1 3 ....... 122% Jan.’0b
Mont C 1st gu g Os... .1937 J - .1
Registered........... .1037 J - J
115 A p r'97
. 1937 J - J •108% ...... 100% May'08
1st guar gold
Registered............ .1937 J - J
BMlnn 1st fllv 1stg5». 1908:A - O
110M 110)4
1 105%110% MISCELLANEOUS BONDS.
dams Ex—Col trg 4a. 1048 M -S 100 Sale
Kegutered — . , ... .1908 A - O
m Cot Oil deb g 8a... 1900 Qu-F 107% Sale
Will A § F lstg 5a....1938;.!
113 Aug’08 .... 113 113
Am Dk A Imp 5s,
Con N J
Registered . . . . . . . . . . 1988; J •
Am SpiritsMfg ls tg 6b . 1915 M-N ....... 87
Bt P A Nor Pac.
Nor Pac
Atlanta L Co 1st g 5a. 1947 J-D
BtP 8’x City.
G 8tP 3 AO
1
ar A S Car Co 1at g 6 b . 1942 J - J
B A A A P.
So Pac. Co.
oa U Gaatrctffl s f g 5s.’39 J - J
8 F A N P l a t s I 5s... 1910 .1
100% OcL’97

g

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[Vol. LXVH.

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Sec

A
B

a

OUTSIDE SECURITIES

* No price Friday; these »»re latest bid and asked this Truck, f Bonds due June,

(G iven

at ioot of

F e r r y CJompn I .

ii cm
Com puni e*. Bid. Aik. j
.[
Bid.
! 118 120 1
1st 5s 1948............JAJ iio o *’
135M 18«)*
100
N Y A E It Ferry—Stock.
Thom-Honst Welding Co.
72
Bonds 5i. of 1932...,..,
t
18
07
United Elec JAAP Co pref 1 18
N Y & 8 B Trans A Ferry
85
25
Bonds, 5s, of 1900......
Woonsocket (R 1) El Co. , 100 110
90
10th A 23d Sts Ferry.....
80
1st mort 5s 1019.. .JAD u o o
F e r r y Couipnnie*.
40
3'klyn A N Y Ferry-Stock!
Union Ferry—Stock.......
39
97%
1st 5s 1920.......... MAN 5101
9t
Hoboken Ferry—Stock,.. ! 90
9!
R n ilro n tl*.
Ate Col A P 1st 6a trcocts
HOT 108
J 10« i n
A t .7 O V VV 1 *t ftp* t r rv> 0 a
1
K lrc trle

N J a N Y Ferry—Stock,.

$
t

\

7

100

106%

G

i Bondi due .1uly.

i Bonds duo March.
|

Auk. 1

Jln ilro ailn ,

Atoh A Plkc’a Peak 1st 6s
t o i“ l AteTA S Fe gu fd 6s notes
75 ! Atrta&Ob Air L is t 7s ’07
Atl&P ot« of dep gu 4» gt’d
100
3 0 ; B A O 3%s, when issued..
**
**
95 ! Do 4»
Do pref “
“
ibi | Bost A NY Air Line—Com
39). 1 Preferred—Sec N Y Sto ck Ex ch.
98
California Pacific lst4%H
102
95
Do
2dtnortguar
Ch Mil A St P Dub Div ’20j U24
' Tio win Vft] dlv ftfl’90' ^124

f

87

64

90% Jan.’O
K

I Beads duo Jan.

consecutive paces ).— F E R R Y
Bid. A ok.
101
101
117
6
S 9UM
S iUJ, »S4i
09
d9)t

98% 102%
102%109

100%
107%

87

Sec

90% 91

}Bonds due No

<& RAILROADS.

K a il road s.

Bid. A sk.

Ch&NW 1 St 7 b M ad e x t’l 1 5130
D o M enom inee e x t ’ 11 §130
C hlc& T om ah 1st 0s 1905 109
N o rth w U n . 1.Bt7» 1017. 142
Frem E lkA M oV nl lst*33 §130
l>o
unstamped §129
W in A S tP 1 s t e x t 7 b ’16 §136
C h A E a s t 111 sink fd col tr
C lnA Spgf 2d 7 ag u C C C A I 103
Jac k L A Sag I s ie x tS s 'O l 103
K in g sto n A P e m b I s tM ..
L N A A Ch 1 s t 08 C A I Div 113
imer««L

+Price per sh

T H E C H R O N IC L E .—BOND PRICES (5 pages) Page 5.

S ept . 10, 1898.]

Week’s | 2
Price
F riday, R ange or
Sept. 9. L a st Sale.
Bid. Ask. Low. High.
115M ....... 115*4 Sep.’98
94
94

BONDS.
N. Y. STOCK E X C H A N G E
W e e k E n d in g S e p t . 9

B'klyn UGas 1stcong5s. .’45 M -N
94 Sale
BPk’n W & W H 1st g os. 1945 F - A
ahCoal Min. Se^T C IA R .
G L & C C o.
P G & C Co.
109*4 Feb’97
Cbic Jc & St Yd col g 5s.. 1915 J - J
Clearf Bit Coal. S e «N Y C A H
100 Aug’98
Col C & I 1st con g 0s... 1900 F - A 100
ColC A I Dev Co gug 5s.. 1909 J - .J
104 Jan.’98
Col Fuel Co gen gold 0s. 1919 M -N
80 May’98
80
82
Col F & I Co geu s f g 5s. 1943 F - A
Columbus Gas 1 st g 5s. .1932 J - J .............
Com Cable Co 1st g 4s... 2397 Q -J : ................ 101*4 Apr.;98
Registered................ 2397 Q -J ............... 104 Feb.’98
Con Gas Co.
P G A C Co. j
eBardel C A I. See T C & 1
.1
el & H Can. See RR bonds
94%
Detroit City Gas g 5s.... 1923 J - J , 94 Sale94
94 Aug’98
Det Gas Co con 1st g 5s.. 1918 F - A *....... 91
17 Aug’98
DetMAM Id gr 3%s 3 A.1911 A -O
17
19
Aug*98
d El 1 1 1st conv g 5s. 1910; M - Sj*109%....... 112
1
1st con g 5s........... 1995|J - J * 1 1 0 * 4 ........ 11794 Aug’98
Ed El 1 1 B'klyn 1st g 5s. 1940 A - O ................ 113*4 J’ne’97
1
Registered....................... A - O ......................................
ErieT A T c o ltrg s f 5s.. .1920 J - J ................ 98% M ar’98
Eq Gas L N Y lstcong 5s. .’32 3I-S ............. ..;................. .
Eq G Fuel. See P G A C Co.
p e n Elec Co deb g5s.. 1922 .1 - D *107 103*4 108 Aug’98
v^r Riv Coal C lstg 0s..’19 A - 0 ................ 95*4Jaru’97
Gr Rap G L Co 1st g 5s. 1915 F - A .....................................
ack W reor 1st g 5s.. 1920 J - J ................ .....................I
end B Co 1st s f g 0S.1931 M -S ................ I l l
Aug’97;
III Steel Co deb 5s........ 1910 J - J ........................
70 A p r’97
Non-conv deben 5s---- 1913 A - O
Iron Steamboat Co 0s... 1901 J - J
May’97
Jeff Clear C A I lstg 5s 1920 J - D ................] 107
2d g 5s...................... 1920 J - D ; ................. 80 May’97
K C Mo Gas Co 1st g 5s.1922 A - 0 ................ ...
LacGas-LCoof StLlstg5s’19 Q-Fi 105*4 Sale 104*4 105)4
Small bonds.....................Qu-F ....................................... .
Mad Sq Garden lstg 58.1919iM-N ................ 102 J’l y ’97
Met T A T 1st s f g 5s.. .1918 M -N ................ ;....................
Registered................1918 M -N ......................................
Mich Pen Car Co 1st g 5s.'42 M- }■ ................ 85 J’ne’97
>
Mut Fuel Gas Co
PeopGas
Mat Un Tel Co.
Wn Un.
at Starch MfgCo ls t g 6 s ’20 M -N *107% ....... 107*4 Aug’98!
Nwpt News S A D D 5s.. 1990 J -Ji .....................................
N Y 4 N J Tel gen g 5s cy.’20 M -N .....................................
N Y & OntLand ls t g 08.1910 F -A * 75 ....... .....................
NoWestnTeleg.
West.Un.
Peo Gas A 1st gu g 0s. 1904 M -N ................ I l l Nov’97
2d gtd g 0s................ 1904IJ-D
107*4 J’ly ’98
1st consol g 0s........... 1943 A - O
117*4 Aug’93
Refunding g 5s.......... 1947 M- 8
Registered............. 1947 M - SI
Ch G-LACke 1 st gug 5s’37 .1 - .1 106*4 Sale 1106*4 106*4
Con G Co of Chi sign gSs’30 J - I)
.... 105 104 J’ly '98
Eq G A FCh lstgu g 0s.’O5, J - J 104*4 Sale 104*4 104*4
Mu FuelGas lstgug5.1947‘M -X ‘ ....... 101% 105% Sep.’9*

C

See

See-

D
E

&

&

R ange
from
Ja n . 1.
Low H igh

109*4 115**
91?4 100*4
109*4 109*4
95
100
80

102
104
84

101*4 105*4
104 104

55 j 89
95*4
.... 90 103
------ 10*4 19
....ill 08 11294
---- 114*4 119
98*4 98*4
90

108

H

&

See
See

C

See

• No price Friday; these are latest bid and asked this week.

5 100

105*4

FOOT OF

Par.

See

JJ)

—See

—See

U. S. GOV. SECURITIES.
U S 2s registered---- Optional
U S 4s registered...... ...1907
U S 4s coupon.............. 190~
U S 4s registered...........1925
U S 4s coupon.............. 1925
U S 5s registered.......... 1904
U S 5s coupon.............. 1904
U S 6 s currency............1899
U 8 4s registered certs
of indebt (Cherokee) 1899

(For
Q -M
Q-J+
Q-Jt
Q- F
Q- F
Q- F
Q- F
J -J
Mch

—See
—See

—See

H

50

H

t Bonds due May.

w s e c u t iv e

).—

113” i i s "

101

F eb ’97 .
97
82
23*4 315

79*4

20*4

51
11
79
79

9 2 Sep.’98
93*4
95
83
116

Jan.’98
Aug’98

105*4 105%
105 105**

112

112*4

H2*i

101

»?%

83
83
111*4 n s

105*4 Feb.’9S
105 M ar’98
112

82
24*4

2 105

112

2 111

M ar’98 ....

112*4

101

101

daily record see seventh va
98*4.......

110*4 110*4
111*4 112*4
127 128
127*4 Sale
112*4 113*4
112*4 113*4
102*4.......

98 Apr.’98
111*4 Aug’98
111 Aug’93
127% 127%
127
127*4
112 Aug’98
112% Sep.’9S
102*4 Aug’9S

101

108 .......
108 .......
100 .......
100 .......
100 .......
110*6.......
103 105*4

109 May’98
105 Aug’9S'
105*4 Aug’98;
98 Aug’98

129
103
93
91*4
76*4

.... 108*4 109
.... 105 108
.... 105*4 105*4
....
98 100

117 Sep.’98 .
115
103
105
7 100
100*4 M ar’98 •
98

103* .

io i

Jan.*’98 !

....... 128 Feb.’98 ...
.......
94
92*4
92*
93
8 8 J’ne’98
76*4 75%
75%
8*4

5 Bonds due April.

pa g e s

521

Price
Week’s I^ ^
F riday, R ange or § ^ R ange
fro m
Sept. 9. L ast Sale.
Jan. 1.
B id. A sk. Low. H igh. No. Low H igh
*io 8 '

Peoria Wat Co g 0s.. 1889-19 M -N
PI Valley Coal 1st g 6 s.. 1920 M -N
Procter A Gamb 1st g 0s. .’40 J - J
St L Ter Cupples Station &
Prop Co lstg4*4s 5-20yr’17 J - D
S Yuba Wat Co con g 0s. .’23 J - J
Sp Val Wat Works 1st 0s.’06 M -S
7 9 % 8 ale
Stan Rope A T 1st g 0s.. 1940 F - A
21*4 Sale
Income g 5s............... 1940
Sun Ck Coal 1st g s f 0S..1912 J - D
Tenn Coal T Div lstg 0s. 1917 A -0 4 92*4......
93*4 Sale
Birm Div 1st con0s.. .1917 J - J
Cah C M Co 1st gu g 0s..’22 J - D
De Bar C A I Co gu g 6 s.’10 F -A
U S Death Co s f deb g6s.’13 M -N
Vt Marble 1st s f 5 s ......1910 J - D
West Union deb 7s. .1875-00 M -N
Registered........ 1875-1900 M -N
Debenture 7s.. . 1884-1900 M -N
Registered......1884-1900 M -N
Col trust cur 5s......... 1938 J - J
, 113
Mut U n T e ls f ’d 0s... 1911 M -N ■112*4 •
Northwestern Tel 7s. .. . ’04 J - J
Westn Gas Co col tr g 5s...’33 M -N
W h L E & P C Co 1st g 5s.’19 J - J
Whitebrst F gen s f 0s.. 1908 J - D

t Bonds due July.

M incellaneou*.

H

BONDS.
©
N. Y . STOCK E X C H A N G E -S t
W e e k e n d i n g S e p t . 9.

STATE SECURITIES.
Alabama—Class A 4 to 5.1906 J - J
Small.......................
Class B 5s.................. 1906 J - J
Class C 4s...................1906 J - J
Currency funding 4s... 1920 - J
,..1 0 5 108
Dist of Columbia—3*65s.l924 F -A
Louisiana—New con 4S..1914 J - J
Small...............................
Missouri—Funding. ..1894-95 J - J
North Car—Consol 4s... 1910 J - J
Small................................ J - J
. 1102 109
0s..............................1919 A - 0
So Carolina— 4 %s 20-40.1933 J - J
..1 1 5 120
Tenn—New settlem’t 3s. 1913 J - J
8 mall............................... J - J
2 102 100*4 Virginia fund debt 2-3s.l991 J - J
, . . ‘l 01
106
Registered....................... J - J
3 10 2 108
0 s deferred bonds............
...l|l05% 105*4
Trust receipts stamped___

Bid Ask
Bid. )Ask.
R a ilr o a d " .
140 145
N Y El deb 5s gu Man Ry. 98 .
99 100
Ho Pacitlc Mo Div 1st 6 s. 105% .
Pittsb A Connellsv 1st 7s 104 .
30
23
Do con 0s gu by B A O 115
804* 01
8 t P East & Gr Tr 1st 6 s ........
107 107%
gu by Mllw L 8 A West.: ....
8 l» 3941
Tenn C IA Ry con 6 s 1901 ....
90
Do 8 o Pittsb 1st 1902.........
114
no
Preferred.
Vicksb A Meridian 1st 0s:
112 122
[UlHcellanequ*.
Hartford Carpet Co.
Acker Merrull A Con. 100' 97t< 101
00
02
Am Air Power of N Y . 100 24% 35
92
95
134* 274*
Americ’u Axe A Tool. 100
42 |
4
*
Amer Bank Note Co...50;t 40
4*
Preferred .........
American Brake Co.. 100 87% 89
2H 0
S
50
Amer. Caramel—Com.... 45
Hoboken Land A Imp't.. 100
98 101
105
5 s.....................
Preferred...................
75
80
9
Amer Groc—1st pref-100
Amer Malt’g Co—
-Com—Siee Stk Ex l’t
Exl’t!
524*
St ock
| International Paper 100 (
Preferred
Stock E xch. 1 st.
1
Exch list.
Am Pneumat Tool Co.10
I no
Amer Press Assoc'n. .100 100 110
1114*
American Screw....... 250 127
2
Am Smokeless Powd.100
it i
57%
8
4
| 55
Am Soda Foun—Com. 100
! 45
1 st preferred.......... 100 47 53
100 n o
Preferred.
2 d preferred.......... 100 15 25
1 12
17
lourneay A E
Amer Steel A Wire. (
J
67
72
Preferred.
Prel erred........... J see:
c* Ex l’t
87
American Surety.......50; 160
90 101
CO
Am Typefo’rs—Stock. 100 47
100 n o
Amer Sewipg Machine..5 t 2
153 100
Amer 8tra'wboard....l00, 30*4 30%
104
119 121
Amer Wnnger com... 100 * " '
5
Madison Sq G—Stock. 100
Pref........................... 114
25
35
Amer Graphophone.. ..10 125 135
135 140
Preferred...............
Maine S S................... 50 40
Anderson (John) Tob.100
10
1244 Merch A Miners' S S__ 50 120
Automatic Vending... 10 25
Mech’uical Rub-Com. 100 12
Preferred.............. 100 35
BarneyASm Car-Com.100
13
10
Preferred.............. 100
Bosto n list
55
00
55
0s 1942.................JAJ
97 100
12
8
Bergn AE ngB r
Phi 1. list.
Mich-Pen Car—Com ..100
k Exc h.
1 st 0 s........................ no
90
! 88
Blackwell s Durh Tob.25 t 124 * 20
Minneapolis Brew 1st 7s 102
Bliss Company—Com..50 110
125
100
Mosler Safe Co........ 100
Preferred................50 1 0 2 !* 110
30% S74i
Bond A Mort Guar... 100 190
Monong&hela Water...25
Carter-Crume—Pref. .100 x 534* 60
Nat Biscuit
N Y Sto ck Ex ch.
Celluloid Co.............. 100
Preferred
N Y Sto ck Ex ch.
77
75
80
Cent America Tr’nslt. 100
National Casket Co... 100 00
25
Cent Firew’rks—Com. 100
National Saw—Pref.. 100
2
202
Preferred.............. 100 x35
National Surety.......100
45
70
Chateaugay OreA Ir 6 s ’ 15
National Wall Paper. 100 05
40
Ches A O Grain El—Inc.. 124 * 17* N Y Loan A Imp....... 100
4s...............................
N Y Biscuit 0s 1911.MAS 114 1154*
05
75
Chesebrough Mfg Co. 100 350 370
New Jer Zinc A Iron.. 100 101
Claflln (II B)-lst pref. 100 90
N Y Air Brake
N Y 8 tock E xch.
90
48%
2 d preferred......... 100 8844
Nicholson File Co....... 50
12
Common
N Y Stock Excb.
3
Nicaragua Construct. 100
Peck, Stow A Wilcox..25 t 18
75
Collins Co.......
Pegamoid (£1 shares)___
113
Comstock Tun- lst Inc...
Pennsylvania Salt Mfg.50 103 107
4
2
82)4 8744 Penn. Steel 5s 1917.MAN
12
Penn. Water—Com....50 10
10
Preferred............. 100
Phil A Wll Steam boat. 50 182 142
40
Con Kan C Smelt, A Ref.25
Pneumatic Gun Car’go. 10
85
4
8
Consol Bolling Stock. 100 17
Pratt A Wbitu—Com.. 100
20
Cramps’ 8 b A En Bldg. 100 71
Preferred.............. 100 45
74
Diamond Match Co... 100 139 140
Procter A Gamble.... 100 250
Bnsley Land.................
Preferred.............. 100 160 105
10
Eppens 8 m A Wlem.,100
R.I. Perkins Horse Sh.100
75
40
Baatman Kodak Co... 100 95 100
Preferred.............. 100 80
•Brie A Western Trans.50 05
Russell A Erwin.......... 25
80
Fidelity A Casualty...100 250
Safety Car Heat A Lt.lQO ioo 105

—See

J.

117
105
100*4

i o i " ioi**
128

128

87
87
05

SH

93*4

88

75%

4*6 f*4

| Bonds due January.

R R s ., B A N K S , M IS G J E L .

Bid [Ask. 1
M in ed Inm-oiiN.
M lftcellaneoiig.
Bid.
48
47 j Texas A PaciHc Coal. 100 52
Schwarzchild A Sulzb.iuu
Semet-Solvay deb 5s...... 101 103 I 1st 0s 1908..........AAO 102
Simmons H ’rd w-Com. 100 90
92 ! Title Guar A Trust... 100 290
Preferred...............100 110 120 I Trenton Pott—Com. .100
7
Singer Mfg Co.......... 100 410 425 1 Preferred................ 100 25
!
Standard Oil............. 100 414 !415 1 Trow Directory-New. 100 35
Stan. Olst. A Dis.—Com..
2 2 % , 22*4 Union Switch A Signal.50 64
Preferred...................
Preferred................50 n o
71*4 79*
Stand Und’rg'd Cable. 100 115 '120 I Union Typewr—Com. 100 11
Sloss IAS 1st 0s 1917. FA A
88
1 st preferred......... 100 100
Southern Cotton Oil.. .50 8-)
2 d preferred.......... 100 94
85
Stat IslR T 1st 0s’13AAO 110 114
U 8 Glass—Common.. 100 25
2d 5s 1926............. TAJ 80
Preferred.............. 100 70
85
Stillw-Bierce A 8 m-Y. 100 70
80 j U S Projectile Co...... 100
Swift A Co................100 103 105
Wagner Palace Car... 100 1714*
1 st 0 s......................... §106
Westlngh Air Brake...50 ti59
Susq Coal 6 s 1911___JAJ 115
Willi mantle Linen Co.. 25
Term Wareh—Stock.. 100
10
Wool Excb'ge of N Y.100
1 st 0 s.........................
70
Worth’t’n P ’mp-Com.100 24
Debenture 0s..............
70 | Preferred............... 100 93
Ranke.

Bid.

N. Y. CITY.
America*___ 352
Am Exch.... 170
Astor Place*

220

Ask.

B a n k ".

Bid. Ask.
167
151
115

300
Mutual*...... 100
Broadway.... 225 230
150
Butch’sADr.. 65
70 1New Amst.*.. 250
New York— 235
205
New York Co. 1100
Chatham .... 290 300 1N Y Nat Ex.. 70
Chemical..... 3000 4000 Ninth.......... 80
Citizens’..... 125 135
100
City............ 1000
130
Colonial*___ 137 ....... Oriental*---- 140
Columbia*...
155
PaciHc*....... 180
Commerce... 204 200
300
Continental . 125 130
20 0
Corn Exch*.. 275 800
00
East River.. 130
290
11th Ward*. 220
no
F ifth ..........
150
Fifth Ave*.. 2500
180
Seaboard___ 175
First (St Isl)
100 Second ....... 450
170
125
14th Street*.
100
250
300
Gansevoort*.
100
83
1000
German Am* 112
1 18
German Ex*. 200
Germauia*... 300
Greenwich*.. 165
Hamilton*... 105
140
390
Hide A L ’ath 85
180
95
155
Hudson Riv* 140
BR’KLYN.
215
Imp & Trad. 180
180
U74*
Leather Mfr. 170

B a n k s.

00
00

290

10

35
45
05
115
13
103

100

254*
80

100
173
102
105
28
95

Ask.

101

250
225
245

255

!Nat City..... 335

345

People’s * _ 190
_
Scherm’rh’n* 140
17th Ward*. 100

195
150
105
215
145

400

120

Bid.

Ask

■ 200

20th Ward*.. 135
103

185

T ru s t Cos.
N. Y. CITY.
137
1350
197%
187 ~

95
310
118

150

Farm Ln ATr 900
Fifth Ave Tr 340
425
240

950
300

100

400
300

94

N Y L I A Tr
N Y Sec A Tr
Real Est Tr’t

1200
•100
203

200

190 205
1040
300
Unit. States.. 1190
Washington. 225 ....
BR’KLYN.
Brooklyn Tr. 300 405
190
225 235
132%,
235
Kings Co..... 280
107
L L I L A Tr. 220
b
390
200
237
100 Nassau....... 159 101
People’s ..... 250 253

20 0

U S Mlg A Tr. 290

104
750
380
Manhattan'*. 200
240
180
Marker, A Ful
230
90
Mechanics’. . 170
Hamilton*... 105
Mech & Tra* 100
* Banks marked with an asterisk (*) are*State banks.
$ Purchaser also pays accrued Interest.

225

tP rlo e p e r b a i t

T H E CR R O M ('L l

522

[V ol. LX ?II.

Boston, Philadelphia and Baltim ore Stock Exchanges— A Daily and Ye a rly R ecord.
f * r l o i w - V n l I’ o r C (? u U im P r i c e * .

SaHtriiay,
Sept, 3.

-Bor If MV,
i

Sept.

Sept.

8.

WexU’tsituy Thursday, Friday,
Brut, 7, Sept, 8 . Sept, a.

70U 70k * .....
S«vJ 93k
*2 !lV
t
69
226
183
1 16 W
123
123
l ‘2 k
26k

4-e

238
m*k
226
163
1 1 7k
123k
123k
1 G»k
25?*
42

61H 01*1
104k 106

93
93
T.-'W J.-S
2 1 k 2 14*

6

6

80k
39

80k
89k

• 193

o
>*

......

59k 50«>i
944* lUDi
9 6-1 fi
2 1 ‘h, 2?5.
11 11 3-D
33H 8 N?*
«7
ST*,
205* 2 Ik
865*

♦
:

280 280
113^ 144^
115k 116
226 227
28k 24
•5B0 5«0
■659* 6 6
asjf
37M 8 S),
43k 43k
75k 77k
:
78
74H
•2 l k 22
3 7 « 37J,
5H
OH
■....... 1 3
4
28k 2 -sa*
;
2 'H 2
122 123X
i - « i? «
54
55
;
1
I
31
3
1
58
58
• Bid and ssked prices: no sale wa-

i:m

-H

S lU C K i
RAILROA 1)8
AtTop & S Fe..(Bost)10(
All & Charlotte! Balt) 100
BaJt A O 2d pd. “
100
Bo® & Maine pt.(Bost)10(
Boston & Prov. “
100
C&tawissa....... (Phil) 50
“
50
1st pref........
Central Mass...(Boat) 100
Pref............... “ 10U
Central Ohio...(Balt) 50
CbieA W Mich.(Host) 100
Oit’BStof IndaKPbil) 100
City A Suburb..(Balt) 50
onn A Passum( Bust) 100
o d d Hirer---“
100
lint A Pere M. “ 100
Pref...............
1 100
4
G'rniant’n Pass (Phil) 50
Heatonv M A T 4
4
50
Pref............
50
Hunt A Broad T 4
1
50
P re f..............
“ 50
E C Ft S A M. .(Boat)lOO
P re f..............
“ 100
Little Sehuylk. ( Phil) 50
Maine Central.(Boat) 100
Meiropoi 8ti... (Phil) ioo
Mlnobili A S H - “
50
Neaquehon’g V. “
50
New England..( Boat) 100
P re f.............. " 100
North Penn.... (Phil) 50
50
Ho A W Branch
50
Penn A N W ...
50
Phil A Erie.....
50
Phil Germ A N,
100
United N J......
50
United T ro f P.
50
Pref.
Went End pref-(Boat) 60

W *
*SH

233 935
60
60 k
•225 ____
I 61k 162k
lD\k 1174*
123 124
UM'k 123k
113 U 4k
25v4 25k
41Ji ■!!>.
105

105

•02 k 96
72k 78
21
21k
•5W
5
.*»
......
s
39k
7**k 7uk
193k 194
3t5i 8654
50k 59k
64
645,
9 0-10 7-lb
- I
•10
IC'H
83H
6 6 k OG'Vi
2 0 -M 21
8 6 >» 8 6 H

m

280 280
188 M3
n s n 11554
2
225k
23
2;*
•580 590
*65
65*i*
25
25k
37
S7H
4 3 « 4SH
70
7 H
72H 43
•2 1 H
*37k 38

ii

H

141 141
2 8 « 2 -t^
2 iiH 2 0 -fe
j
122k

liiU

53
53
*i
in
30
80
58
56
made, Tr

i

A C T IV E

Kit i Iron*! .Stock*.
53 66 Jan. 4 7SW F eb. 11
♦70
70k|BftHlinore <&ty Passenger... (Balt.) .. . 25
. 25
*23
& V Baltimore Consolidated_ _
3 .j
_
350 219* Apr. 26 8 4 ^ Feb. 14
100
23
3 ‘ Baltimore Consolidated!.... (P h ila .).. . 25
Mar. 12 8454 Feb. 23
17 217k Mar. 29 260 A u g. 9
235 285
230 230 Boston & Albany.. . . . . . . . . , , (Boston).. .100
50V
.1001
*
*
Mar, 26 « « « 8» p t. 8
0«54 « 6 K 67k 09 Boston Klev/ucd....................
121 215 Apr.
.3 00
226 226 Boston & Lowell..................
•225 .....
*•
2 227 Aug. 27
.1001
4 160 Mur. 12, i7 ik JlUI. 7
1
103 162k l«2k' 162k Boston & Maine...... ..............
“
),929 B5 Mar. 26 !n 9 j* Aug. 18
.3 00'
It ik 116 k !Cbic, Burl. & Quincy..............
“
115k
.3001
213 102 Mar. 14 126k Aug. 18
123 123 Chic. June. & Un.Stock Yds.
4
4
123k 124
•*
70 105 Mar. 12 124 Aug. *£
.100'
• 1 2 2 k 123k 123 123k! Preferred..........................
!,1 0 0 83k Apr, 21 1115 Sent 8
in k n o
100k 1 Mj Chic. Milwaukee & St. Paul. (Phila.' .. . 100 !
1
. 50;
25k 26 Choctaw Oklahoma & Gulf..
“
M U 20
9 Feb. 25 a7 Aug. 24
42
42
•41
42 | Preferred......................
* . 50|
*
860 274* Jan. 4 1 42k Aug. 26
2v5
.3 00
50
6i 5 Consol. Traction of N. J.7...
$
“
Jan. 3 58 Aug. II
•iuf'sj 105
105 108 Fitchburg, pref................. <Boston).. .100
79 98 Mar. 28 106 Aug.
•41
27?* May 9 42 Aug. 26
42 Ga. Southern A Florida...... (Balt.) .. .300
*91
.300
93 | 1st preferred........ ...........
“
45 84 May 29 98k Sept. 8
90 55 May 3 78k Aug. 25
*72_H 71
“
.100
•72k 73k 2d preferred......................
993 I 9^4 July 22 26k Jan. 3
204* 21
2 0 k 20*; Lehigh Valley................... (P h ila .).. . 50
5*4 Mexican Central,............... (Boston).. .100
44
4)4 Apr. 6 1 6k-la«- 12
0«
S
JS •5k
32
. 50
Jan. 14 83 June 80
*81 H ......
*8 ('k SI iNorthern Centra)................ (Balt.)
851 19 Feb. 241 4! Aug 26
.3 00
37ki S8k(Honhern Pacific............... (Philo.) .
S8 k 30
385 57k, Mar. 2« 79k Sept. 2
77k, Preferred........ ................
“
.3 00
7
193 393 Old Colony......................... (Boston). . 100
193 191
17 1859* 'Mar. 16 195 July 9
(Boston),.
10 18 Jan. 4 1 30k Aug. 31
.100
•31
35 Orepon Short Line.
•84k 36
990 55k -Mar, 1 *| 60V* Feb. 7
59k o9k Pennsylvania..........
, (Phila.).. . 50;
5v*k
94
94
157
. 50,
94 Philadelphia Traction
Mar, 25, 95 Aug. 29
381
.5 0
9 5-16
"
9
9<4'Reading Company..............
6 Mar25 ll& J im 6
§
,I 85
21 9-16 2lfei 1st preferred.....................
“
. 50.
27
Mar. 261 1-16 Feb. 3
11
50U
11
11
11
! 2 d preferred.......
“
. 50
9k Mar. 25 34 9-16 Feb 5
jm$ as
Mur. 25 34k Aug. 27
30k 3y% Union Paeiflc— .............. . (Boston). .300
i
64k 60
?46
.100
65k 6684
Preferred....................
“
Mar. 25 6<k Aug. 27
,552 12k Jan. 3
(Phila.). . 50
2 0 k 209* 29*4 20^ Union Traction.............
614
80k 80k!West End Street-..... ..... (Boston). . 50
Alar. 25 87% Aug. 11
86k 86
»* iscellnnnouH S lo c k *.
280 281 American Bell Telephone...(Boston). ...100
285 Aug. 15
248 238 Alar.
280 281
...100 65,585
U75t iati« 185^ 189 American Sugar Refining L .
“
147 Aug. 26
...100
“
259 103 Alar.
115 115k 1lok 116H Preferred 5— — ...........
116k Jan. 6
3.38c 149k Jan. 4 230k Aug. 27
“ ... 25
219k 222k Boston A Montana.................
232k 223
2,974
“
... 25
825s 83
12 28k Feb. 2
4
22k Butte & Boston*.. ... . . .. . . . .
575 575 Calumet A Hecla .. ...........
“
... 25
X ) 8 o 585
3 600 Aug. 13
22
•65k 66
•6Dk 6594 Consolidated G as.,............. (Balt.) . . . . 1 0 0
06k Aug. 18
24«< 24
..........(Boston). . . . 1 0 0 16,400
25k Sept. 7'
2 tk 25 Dominion Coal
4,750
369* 37k Electric Storage Battery 3 , - (Phila,). ...100
36% S7k
3s k Sept. 6
Preferred 7.............. ........
...1 0 0
727
4 ik 43k
43k Sept. 7
75 Erie Telephone.
941 59k Alar.
75
75
75
....... ... ( Boston).,...1 0 0
■7;k Sept. 6
“
...1 0 0
2,825
7 Ik Illinois Steel,/,,
■JIM 7IJ4 71
74k Sept. 6
“
in
22
22
... 50
♦2 Ik 22 Lam son Store 8 ervice..,...,
23k June 8
88
38 Lehigh Coal & Navigation... (Phila.) . . . .5 0
88
38
43k Jan. 7
68 37 July
“
...1 00 1,64 5 Slay
5*
•5k
59* Marsden Compunyli,..........
1134 Jan. 11
*140 143 Now England Telephone..... (Boston), ...ioo
144 Aug. 17
I 120 Alar.
27
28
"
5,917 21k Jan.
... 25
27
28k Oid Dominion Copper 7..........
32k Mar. 2
8 ' 5* 8054 2»)k 204, Pa. Mfg. Light A Power! ... (Phila.). ... 50 14.H49 6 A pr.
22 k Aug. 22
5,664 97k Feb.
... 50
1 2 2 12 2 k 12ik 12394 United Gas ImprovementL.
"
1*1 Aug. 8
782 10k Feb.
1 7 « 17h
S-pt.. 2
17k 17k United States O il......... ....(Boston),. . . .2 5
52
53
{ Phila.) . ... 5
419 33k Feb.
53k 58k Welsbaeh LightT.......
62& July 5
'1
lk West End Land...... ........ (Boston). . . .2 5
*1
IH
3
1 Jan.
5
i k Jan
756
. . .5 0
32* Aug 25
309* S\k Westingh. Electric & M fg...
31
3 lk
58
58
Preferred — ................
“
... 50
53
5s
Aug 10
42
receinls: all Instal paid. tTr. reels. 1 Ex rigidg. < 21 15-16 2
§ 21 1522k

8 »ii

23k

H

H

1,259

H

37

76 k

i

-•H

o$H

7 13-1
18 V
*
m
47
78

H

pref

____

21 k Aug. 22

1079* Alar.

U

18k Mar.
489 Jan.
529* Jan,
14 Alar.
38k Mar.
21 Ma,r.
44 Mar.
20 k Alar.

**

H

iK

Blit. |Ask.

Bui.
bill. Aak*
BONDS
STO C K S BONDS
B ohI on—Concluded.
ML8UELL.—Concluded
10
13« 13k Int But H ASM “
3 : Ogd A L Ccon 6s.’20 A AO • 95
Income 6s..... .. ,1920
50
114
Marsden pref? (Phil) 100 40
S
33k Meigenthaier.. (Dost) 100 191 192 , Rutland 1st 6s..*02 MAN $106
2d 5s............1898 FAA 4100
1«3
Morris Canal.,.(Phil) 100
West End St 5s. .’02 MAN $105
28U
“
100
P re f....... .
4 k * ............. 1914 M&j $.......
Osceola Mining(Bost) 25 52*4 53
Gold 4s...... 1916 MAN .......
54
Parrott Sil&Cop “
10 23
8
10
4s................1917 FAA $105
Pcnnsyl Salt...(Phil) 50 104 .......
20
53
55
Pennsyl Steel!. “ 100
18
B o D ils -B n ltim o rp ,
32
4U
Pref 7........... “ 100 409*
1
5
Phll’delphla Co(Bost) 50 3044 87H Atl ACh 1st 7fi.l907 J&J 119
ll
)
24
Pullman’s Pal.. “ 100 18S 188^ AtlG-LightIstdsl«17J & 1 100
Balt Bolt 1
st6s. 1990MAN 1 0 lk
Quincy Mining. 4
4
25 118 110
153 154
Reece Buttonh. “
10 11H u « | BaltCPaa 1st 5s. 191 1MAN 115
250 »«•«
5
Santa Ysabel G “
5
5k Ba.t Fundg 5s. 1918 MAN 122
14
25 171 172 | Exchange 3k». 1930,1&J 1074s
XIM Tamarack Min.
Ball AOhio 4sg. 1935 A AO
39
50
49k United El Sec.. “
PittsACOn 5 g. 1025FAA
P re f........
4 100
4
135k
Stat Isl 2d 5 g. 1926 JAJ
40
Water Power.. “
100
i
H
Receivers cert if 6s.JAD i .......
67
20
Welsbacb CotuT(Phll)10o
Do Maryland Concur 6a. 5.......
13
Pref 7 . . .......
100
80
Do Plltsb A Con 5s.JA
.J
Weatm'rel Coal(Phll) 50
89
Do Maln Line 5»........
10 15 Wolverine Min.(Boat) 25
45
BAOSW1at. I k g-1
980JAJ ino^
55
1
Wollaston L d. 4
4
5
BaitA PI at6am 11911A AO 123
53
181 i V i ”
1st 6s tunnel 1911..JAJ 121
Honda—Boat on.
Bal True lat 5s.1929.MAN lie
Am Beil Tel 7a. 1
608 FAA 1 0 1 K
157k 158
Ext A Imp 6s. 1001 MAS 102
<>
56 H A TAB Fgen g 4».’95 A &
No BaltDlv 5s. 1942J AD 116
Adjustment g 4s.. 1995
64
Conv’rtihle5«J0O6MAN 103
B A M 8d is 78/02-07 MAN
88
36
Cape F&YarAOg. 1916 AD
.1
72
98 100
Boston Term ‘1 k# •*194 7 ioo 111
8
96
1st 6s ser B.. 19!6 tr rec 45
02
Bo» Un Gas l8t 5»/39JAJ
94
1st 6a scr C.. 1916 tr rec 45
2d M 5s........1939 J&J
78
H
O
Bur A Mo El v ox'pt 6s, JAJ 118 n «k i Cent Ohio4ka g .'8(1 MAS
Central tty os.. .1912 JAJ
.Non-exerupt 6s/18 j &j 106
107
Consol 5a.... 1932 MAN iY«i”
Plain 4b....... 1910 J&J
05
185k
Ext A Imp 5s. 1082M&S 113
Oh Bur A N let 6s/80 A At > 106 107
257k
CharICA A ext 5s. 1910J AJ 108
2d M 6s....... 1918 JAH 107
17* 17k
45 4 5 k Ch Bur A Q 4s. 1922 FAA ..... 100 Cbesap Qua 6a.. 1900 J&D 105M
10 C k 106
City ASti b 1st 5s. 1022.1 AI > H BH
Iowa Div 4a. 1919 A&U 99
Col AGravtat.5-6.1917J AJ 116k
Chicago J unc 5s. 1915 J AJ ..... 115
Consol Gas 8s.. 1910 JAD
Ch A No M gu6a.*81 MAN
...... 60
2
5s................ 1080 .J&D i i c m
72
ZH Obi A W M gen 5b.'21 JAl)
3
5 ! Con. of Verm't 5».*18 JAJ
Ga A A ia 1atpf5s1045 A A u 104
74
GuOar&N 1at-fjwg. 1
029.1A.I
94
120 125 | Curr’t Kir 1st 5b.’27 A AO Ia 80
85
S7
D O H A W l8t4s/4« AAOij 87
87k GcorgiaPlstO-ds 1922.1AJ 12044
.J
3
am! Domiu Coal l0t6a.*18MAs , 112 i i ' * GaSnA KIu I si 5s. 1945 AJ loan
Easi’n 1 M 6sg/06 MAS ....... iau
at
2
Luke R El 1»tgu5#’42M A8 118
.....
ElkAM V lsl 6s *38ond|xl37
137
MneAN 1?t 4 k »-1900MA.S
MetSt' Wash) 1st 5»’25FA 1 p -k
Unst’p’d 1st6»/33AAO/ 13754
H
New Orl Gas 1st 5*-..Vur 1O
ion 17
IIHnSteelconv5®.’ l 0.JAJ 101
Debentures!*. 19 13 AA<>/ 98
2
NortbCent 4 k »-1925 A AO n o
K C GA 8 lstOBg/25 AAOlJ 80
G 1900............... A AO 1 0 2 k
a
25k 26
85
08 gold 1900 ......... J&J 103 k
155s 15fc K C Ft SAG 1st 7»,’U8 JAD ( 11
5 U «M
K C F 8AMnon «s/28M AN 103k
6s 1904................. JAJ 111
K CM A B 1st 4s..*84 MAS/ 81
Series A 5s 1926.....!&J 117
..................
Series B 5a 1H2«... JAJ 117
x374t|
K CA M RyAB5s/20 AAOk ioi
OhioAM 1
*1781) 10"5M A N 105k
165 160
K C St Jo A 0 B 7s.’07 JAJ / I 10
PittUACOD 1St 7s 1
808J AJ
Pitt Un True 5s. 1097 JAJ! 10694
4k
4k Lam»’n Stores6s.*09 MAf
J
Rock AK 8 Jat 7s.’06 J a /
105* } PotomVal 1si 5a. 1041 AJ j
SecAvTn ( Pitts )6»’H AD 112
4.i
* 631* * 64 | I. KA8t 1st Os g/26 A AO • 40
2d M 5-6 g.... 1936 A A* > '
7 «k 7?
.!!!!. Seab A Roan 5*. 1026 J&J 104
Virg Mid 1st 6a. 1006 MAS: 110
11
0
17*1 17J*
111
2d sene* 6s 19II MAS! 116
Mex Cent raJ 5s. J917 A A u ;
4
3d aeries Gs.. 19 1ft MAS 11
65k 66
111k 112Vt
1st con lne 3? g non-cam
4th *er 3-4-5*. 1921MAS 06
180 186
....
UlH
2d con tnc 3s nou-cum..
5th scries So. 1926 MAS 102k
2
1
6
Va <State 18s new.’32.1AJ M k
13
too
13k
VI
6s............ ..1
Fund dcbt'J-Hs. 1
901 A J 76
J
k
*
N VAN Eng 1sf r
Va& Tenn 2d 5e. 1900 JA J 100
119
>g,...............1900 J&J I 105
100
99
1st roort 6s..
113 .......

*H

i

u

m

Vr

L

9

B9H

.—Hrtct* Sept.

West N V & Pa. 4
4
50
Wivcon Cuntrnl(Bost) 100
P re f............ "
100
W crN M b& K
4 10(
4
MISCELLANEOUS.
Allouet MinlngiBost) 25
Am tty El Lt-l.(PbH ) ..Anncnnda Min.(Bust) 25
Anniston Mind. "
100
Arnold Mining, 4
4
25
Ash Bed Mm’g. 4
4
25
Atlantic Mln’g. 4
4
25
Baltic Mining.. 4
4
26
Bait Wareho’set Balt) 20
Bay 8tatcOe*1.(Boat) 50
Berg&Kog B i’w(Phli) 100,'
Pref — ......... “ 100
Boston Elec LL(Bost) 100
Boston Land... *'
10
BoyUton Si L ’d “
15
Cambria Iron.-(Phil) 50
Canton Co------ (Balt) 100
Centen Mining.(Host) 25
Central Trans., (Phil) 38
Domln Coal pf. I Bust) 1O
fij
ioo;
Edison El H I...
2|
5
Ft Wayne Elect
Franklin Mln'g.
25
French Bay Ld.
5
General Elect..
100
100

Sale#
o f the. Range o f Sates in 1898.
Week
Share* Lou'txL
Highest.

STOCKS.

I LutUoates unlisted.
S

i

h

4s g ................1911 JAJ i

i
i

Ask.
97
15
107

101

20 k Apr.
50 Apr

Bid. Ask:
BONDS
Hitl i i mo r»-—Conclu’d
WestN C con 6s. 1914 J&J U 4 k 115k
05
West VaCA PI st.flg.’ 11J&J 1 8 * 109k
WUCol&A ug 6s. 1910 J AD 115
Wil A Weld 5s.. 1985 J&J 115

B o n d s - P h ila d e lp h ia
A tl City 1st 5s g.V19 MAN
Buffalo Rycon 1st5s..’31
Cata wlssa M 7s. 1900 F&A
Ches AD Can 1stcsV 16J AJ
Choc <>kla A G prior lien 6s
General os..., 1919 J&J
102
CltVSt. Ry(Ind)con 5s.’33
1 i«H Ct lum St Ry 1st con 5s.’82
Colum O Crosst 1st 5s./38
CouTraeof N J lst5s..’33
Del & B Bk 1st 7a.‘05 F&A
EastA A 1st M 5s.’20 MAN
Edisun Elec 5s stk tr ctfs
ElecA Peop’sTrsth tretfs
ElmAWilm Istfis.’lOJ&J
Income 5s....2862 A&O
Eq 11 Gas-L 1
1
stg 5s. 1928
look Heatonv M & F con 5s."24
H& B Top con 5s.’25 A sO
Internet Nav 6a. . . ..1 0 0 6
K C Sub B 1st Gs.VSO J&D
105
K C P & G 1at 5a./23 A&O
Lehigh Nav 4ka*V14 Q-J
104
HR 4a g., ..,..1914 Q-F
76
Consol 7a..,,. 1911 J&D
50
Gen M 4ks g.. 1924 Q-F
50 i Leh V C’l 1st 5$g/88 J&J
Leb Val ext 4s., 1048 J&D
2d 7s........... 1910 MAS
.......
Consol 0s,,. .,1928 J&D
Annuity 0s.,....v..JAD
109 ; N ow« r It Pass con 5s. 1930
N Y Ph ANor 1st.0s/23 J AJ
n o * No Penn 1st 4s./36 MAN
Gen M 7s....... 1903 JAJ
Penn gen 6»r...l910 Var
Consol Os o.... 1005 Var
105
Consol 5s r. , .. 1919 Var
0 -1H CoilatTr4kB g/13 J&D
Pa & N V Can 7&/06 J&D
1069*
Cons 5s....... 1930 A&U
Cons 4a....... 1089 A&U
11 8 h
Penn Steel IstOu/l 7 MAN
HUH People’s Tr tr certs 4«/48
Perkiom 1st s<*r5s. ’ 18 Q-J
Plillu Elec g« Id ' rust ctfs
Ph&Ergen > 5 ,/20 A&U
Gen M 4s g .. 1920 A&U
Ph & Head 2d 5s/38 A&O
Consol M 7s.. 1911 J&D
Con M fls g ...lftll J A i
107>s|
Ext Imp M4a g. 47 Ai\t
Con M of ,82 43/3?'.!a .s
10-yr * f 5s g.1002 F&A
io7M
Terminal 5a g. 1941 Q-F
P Wil & Bull 4s.l917 A&u
105
CoIIat trust 4».l 921 J&J
Pitta C&SlL 7s. 1W O F&A
O
Read Co gen 4a, 1997 J&J
Rochester Ry con 5a. 1 030
....... 1 Sell RESIde! at 5s g’35J&D
Union Term’i lat 5a.F&A
United N J 4a.. 1944 M&r*
U nTruePitts gen 0s’97J &.1
IAnd accrued Interest.
.......
1 >0 1 •Price includes overdue

107
105k

5
2
18
U

107
77

18

70k
109

io « k

*92k
107

77k

110k

101
*k
0

93

107%
78
108“
04%

in k
1 128k
2
H6k

U2k

122

LI4

122k

104% 105%
102
101 % 102%
119k

101

12
0

118

82

ioi k
io'e’

1

UnJi
coupe

108'
83*

s ie d .
ns.

T H E C H R O N IC LE.

S eptember 10, 1898. J
A.'TD

H a ilr a a d lu ie llig e u c je .
RAILROAD EARNINGS.

The following table shows the gross earnings of every
jteam railroad from which regular weekly or m onthly returns
3 an be obtained. The first tw o columns of figures give the
.gross earnings for the latest week or m onth, and the last tw o
colum ns the earnings for the period from Jan u ary 1 to and
Including such latest week or m onth.

The returns of the street railways are brought together sep­
arately on a subsequent page.
Roads

Latest Gross Earnings.
Week or Mo 1898.
1897.

Jan. 1 to Latest Date.

1897.
1898.
$
*
*
$
4,232 109,061 100,330
13,145
Adirondack......
Ala. Midland.. 4thwk Aug 5 },S74 43,093 1,123,038 1,014.156
Gt. South.. Juue........ 68,493 49,755 406,790
Ala.
Pao. uut>.
Ala. N. O. Tex.E 2dwfcJ All?. 23.000. 22 000 848,216 335,237
N Orl.de N. A
333 752
Ala. deSU.«fc P. 2dwk Aug. 1 9,000 9.000 398,488. 760,705
Vioksb 2d wk AUg. 0 ,0 0 0 7.000
Vicks.
392.465 303,310
Allegheny Val.. July......... | 219i->V7 218.082 1,4*8,17* 1,309, *18
Ann Midland...
.O 2
*8,881
Ark. Arbor...... 4thwk Aug 4 5,95o , 40.39i I 952.880 844.467
lune
,
3ol 55,oe8 ____
Atch.T. & Char July.......... 12,700,*94 2,594.231 21,55s-.336 18,675,231
deS.Fe.e May..........
Atlanta No. July.
! 124,590! 121.425 668.297; 682,954
Atl. Knox.A
24. 18 37.759 176,*6 149,81
" ■ -----Atlanta A W. P. Juue ...... | 39,490 24,5 8 273,128 I 201,035L
Atlan. A Uanv.. 4thwk Aug; 11,**50 IO.h14 367,819; 3U,9t4
9,540
Austin AN’west May.
9,542
52,380 75.211
Balt. de Ohio.........., ...........
Bai. AO.Sou’w July......... 12,305.991 2.245.492i 15,9 .4,370 14.314.201
4thwk Aug 213,03’ 185.'3 4,511,468! 4,079.*57
Bath A Atlantic. July.........
1,7321 2,169 11,709 12,350
Bir. A HauTudsi I uly.........
1.592 1,560
Bruaaw’k&WestJuuo........ 122.562 94.4ol 298.2 42 273.806
61.50 48.896 14,346 11,979
Butf. Roch.de Plti jJ u ly ........, 49,6 9 50,559 2,441.890 2,17L.»45
4thwk Aug
Buffalo A Susq..
318.461 320.568
Bur.O. Rap.de N. 4tli wk Aug 173 770 138.316 2.687,269 2.550 540
'Oauadlau Paetdo'libwk Aug 718.0 0 684.0 • 15,8 8,182 14,051.8 il
9,358i 5,788
Oar. Midlaud.
July.
Oeot.of Georgia 3d wk Aug. i
85,326 8 1.5 <2 33 63 41 30 232
4
Ceutral of ». J.. July..........1.031,044 1.239 433 3.174.725 2,997,031l
Central Pacldo June ....... 1,474,33-.11,0*4,** 17 6,0 .2,4lo 0,700. >7
May........... 02,2751 t 0 L34 0.782.461 4,7 28,3
Chariest*n&Sav
340,552 349.631
Chart’u A vV.Car.
Obattan’ga So..; MarchAug. 87,529 79,504 200,4571 241,188
dwk
1 38 1,7 4 44 183 48.185
Chert. A Ohio__'It wk Aug 364.090
7.7 *0 81 7.31
Chic. Bur. A O.d 4th wk Aug 1<m.2S4[ 313!970; ................2| ~ *• <,*760
Chic. A East.111. July. *.__ 3.086,197[3.04 t 059 22,93 7,v» 14,98 1.618
»
~
80,7'7 2,6*49 118; 2,40
Ohio. Iud. A L IthWfcAilg! 102,053
Chic. Gt. Wertt’n 4tliWkAug! 1*8.652 178,^19 2.121.811 3,158.111
1.551! 3,50').*07 1,989 708
Ohio. Mil.A St. P *tnwk Aug 1,119,147 99 3 8 1 21 3 l 1.382! 19,142.19 I
Ohio.A N’thw’n August 1 6 i,l38 6,235 5-i3,046 521,>51
Ohio.Pen.ASt.L. July......... 2,S19.z84 2,944,01 i 19,813.939 4 7,280.8":2
Ohio.K’ k 1. A P..Liulv. ...
Chl .St.P.M.*O July......... 1,786,577 1.661.773 11,l**«».45 9.5 42.741
712,200 657.115 4,416,740 4,"L 3.980
“ - -29. 2 4 2 5,. s6 760,529
--------Chlo.Ter.Tr.RR. 4thwk Aug
Ohio. A W. Mich. 3-1
Augi
43.89 J 33,042 1,123,250 093,7 *4
972.913
Chuo.Ok. A G u lf. J illy.........
12 i ,21x 10-,557 | 861,087
Ota.G.APurts *111 J uly.........
5,488 5.577 32,44 4 5o0,002
Clu.N O. AT. P. August__ 415,135 304,707 3,001,150 2.333.427
16,-> 6
Ctu.Ports.A So.. March...... 22,710 19.412 61.40 s 52.283
Olev.Cau. A Vir. 3dwk Aug. 12,270 10.707 43 4.153 383.749
Cl.Peo. A East’n. thwkAng 474,-70 416.609 9,350 171 8,777. >5
Clu.Ch. ASt.L
40,053
9 37,901
Cl.Lor. AWheel 4ihwkJuiy 41,000 3d 380! 1.053,194 794,70 k
Col. H. V. ATol. 4thwkAugI 140,953 143.507 97 4,237 938.*49
Midland.... July...... “ 43.030
910,169
Col. Sand’y A H. 4thwkAug 247,73 147.452 1,675,405 1,418,55 ■<
August.
Col.
Colusa A Lake.. July.......... 3o,215; 12,29 2 550,604 433.36 4
1,3 Jo
9,8.50 10.955
Crystal..............July...........
1,324 2,155
8,490
1,452
7,110
CarnoTd Valley June........ 76.411 82.797! 388.721 369.220
Denv. deRioGr IthwkAug 266,500, 222,400 5.345,929 4,536,o3L
Des M. N. W..
35,0 7!
Det-G.Rap.AAW. July.......... 30,798; 35,485, 291,686 220.452
Det. AMackinac 3dwk Aug.I 15,lo2j 29.189! 89 3.278 773 236
Lima No. 4tii wk Aug
9,370 280,9 >0 15 5,5*3
Det.de
uue........j
Duluth S.S.AAtl J4th wk Aug 49, *10 50.419 1,205, *63 1.03 2.124
6 >,253 01,18* 28 1,524 204.2s9
ElglnJoi.AEast. July.
98.814
Brie.
J u l/......... ' 4,338 90,037 851,940 054.700
Eureka Springs. June........i 2,570,090 2,850,8 *4 18,069,993 17,747.004
28,798
Evans. <klnd’pits 4thw kA ug; 10.052 4,670; 197,29 >| 187,860
8,5 *3 25,924!
Evansv. A T. H. 4th wk Aug 41,638 35 298 785.445 705,009
Fitchburg............... ............
Flint A P. Marq. July......... 005,180 630.045 3.9 37.799 3,9u9,0l)5
4th wk Aug
1,769.009
Fla.Cent.de Peu. 3dwk Aug. 94,671 I 82,345l 1,910.761 1,408.154
Ft.W’thdcDen.C.,4thwkAug 7 3.70 3 >,62 1,990.908 71L,551
28,486 35,621 843.794
Ft. W. A Att. U. 4th wk A tig 9,5371 8,213 279,92l| 185.170
Cads. A Rio Gr July...__
0241
723
Georgia HR......4thwk Aug 34,566 39.7o8 954.206 941,58 <
,809! n.lOS
Georgia AA No. 4thwk Aug 20,445 22,931 77 -,0721 654.170
Ala.. June........
Ga.Car*la Fla.. August__ 52,919
Geo. So. A [nd.. 4thwkAug 7o,429 57,533 403,494 42 ,609
72 430 641,081 555.979
Gr. Rap. A
01n.R.A Ft. W. 4thwkAug 85,652 66,768 1,390,578 1,259.478
14,033! I2,v08 29 3,774 20;,317
Traverse A l
Mm. G. K.City. '4th wkAug j 4,184! 4,039f 27,063 73,941
4tbwk AUg I,3a9l 1.217 81.647 25,026
Tot aUlines 4tnwk Aug 105.798 84,292 1,799,062 1,621,5b 1
Gr.Tr’nkSyst’iu 4thwkAug 063,0 >*■ 70 >,780 15,233,3u0 14,512,84 l
Ohlc.AGr. Tr 3 l wk Aug. j 61,718 64,073j *;3 U ,8 27 1,870,81
“
H|
DeLGr.H.&M.
GreatP.North’o— Jdwk Aug. 21,59.5' 24,332' 501,609! 003,249
t. M. A M.
East of Minn. A u gust___ 1,508,040 1,451,631 10,777,180 9,026,646
August... 287,0 1 154,3191 1,210,8 4 909.873
Montana Cent August.
1*5,120 17 l,t>30 1,309,123 1,299,223
Tot. system August ... 1,940,700 1,777.50 > 13,304.134 11,3 L5.74 3
G If B’mntdeK.C J u l y . . .
90,25o 70, <43
Gulf AChicago. July......... 17,94. 12.801
3,780| 2,8511 2 7,258
23,548
Hoos.Tuii.iVwll Juiy.........
4,439
5.220 1,108.857 I 29,6 5
28,*66
Hons.AContrail M a y ............. 178,339 179,22 71
Tex.Cen
1,102,773
Illinois A West. August___ 1234 >894 12175081 17028.87 114801450
Ind. Deo. Iowa. A p r i l ...... 35,7 0 32,2lei 140,30 1 137,4*4
Ind. 111. A
393,072
54,253 52,50
4.4.181
2n. AGt. North' n J u n e ........ 180,447 120.959 2,000,58 * 2,00. >,750
If Sterne. (Mex.) 4thwk Aug 5 >.6 0 45.0 4U 2.011,300 1,088,490
•Vs A ug.2«
Iowa Central... 4tli wk AlXg
Iron RaMway... J u>|>......... 61, Oil 49 010 l ,t22 *,074 1,040.967
3,00 41 2.23
20.250
28,000
1

1

1

8

8

l

5

11

4 8

1

0

wk

8

Latest Gross E arnings.
Week, or Mo 1898.
1897.

Roads.

Im i'estm jettt

523

Jack. T. A K Vs July...... .
Kanaw’aA M 4thwkAii!
ien

Ja n . 1 to Latest Date*
1898.

1887.

g
>
$
2L7, ,583
185,490
362 ,216
311,551
2,972 633 2,851.467
9 La, 453
7l 1,367
195 ,101
187, *-43
159, ,757
160,898
2,181 ,5<»5 1.408,418
*31 7,110
,
*2 4 1,020
359 9.19
362,743
201 2,233,2V 6
210 094
200.547
10,132 ,673 9,749.694
7.924, "61 7,833,836
105 802
101,811
2.969 ,502 2,754,076
3,253 016 3,04 - 595
49, 506
51,168
983, 573
909.473
:-23, 102
304,414
14,581 169 13,352,948
30 450
32,673
71. 816
76.197
8,Q20, 646 8,508.185
1,782,811
1.933, ,98
4.025,,998 3.955,929
228. 793
271,749
2, 32 9 >0 2,389.500
431 832
463,141

$

29,547
20,179
J8,0 i4
12.125
K.C.F Scott AM.. 3d wk Au
83,572
90,564
K.O.Mem.it Bir. 3dwk Aug.
20,360
20,239
Kan. C. N. W.... July.
21,754
25,-75
Kan. City AOm . 4th wk Aug
8,73.
5.203
K. C. Pitts. A G . i stwk Sept
70.125
52,191
Kan.C.Sub.Beit iih w k Auj
*1 ’ ,3 >4
*13.698
20,1)50
Keokuk A West.e 4th wk Aug
18,255
L. Erie A West. 4th wk A u g
1)5, 70 113.373
31,797
Lehigh A Hud.. July
30.632
Lehigh Val. RR. July......... 1,703,086 1.607,171
1,432,937 1,455,761
Leh. V. Coal Co. July.
Lex’gtonAEast. J uue
17.737
18 849
Long Islau 1RR August___
6 3,550
46,278
Long Is. System. August ...
690.0 L7 6 i5,98
11,419
Los Ang. Term.. July
10.416
Louis. Ev. ASt.L 4thwk Aug
46.823
44.089
Lou. H. A St. L . . 4tliwk Aug
19,10b
15,530
Louis v.ANashv. 4th wk Au;
641,795 568.*58
Macon A Birin.. J uly........
4,307
4,556
Manistique
J uly........
12.163
15,879
tMexican Cent.. 4th wk Auj
35 J.950 313.983
Mexican Inter’l. J u ly ........
268,010
240,u45
IMex. National 4th wk Aug
142. 34
15 7,29*
Mex. Northern . M ay.........
48,715
44.352
tMexican R’ wav W kAus.20
80.800
75.500
Mexican So...... 3dwk A u g
12.891
13,290
M ineral Range. l u u e ........
15 748
13,386
1,305
Mnmeap.de St. L. 4thwk Aug
63.40
1,358.174 1,282,548
M.
St. P.AS.St. M.
102 6 1 2.436 42 2.22 7,241
4tnwk Aug 113,014
Mo. Kan. A Tex 4th wk Aug 340,737 368,-53 6.602.223 6,724,982
Mo. Pao.de IrouM 4thwk AUg 915.000 8 .0,0 J 10,605,114 14,927,242
*
Ceutral B r’oh. 4thwk Aug
5 LOO55.000
880.354
703.811
Total
921.00 17,485,108 15,631,053
4th wk Aug
970.00
Mobile A Birin.. 3d wk July
4,282
5,187
196,3 “
166,247
Mobile A Ohio.. A u g u s t....
334,800 312,108 2,746,444 2,4S*f5*0
M on tA M ex.G ’f. July..........
108,700 112.900
'-82,380
795,067
Nash.Ch. A S t.L . July.
549,531
4o0.e7S 3,285.251 3,030,378
NevadaCeutral. Mav.
3.777
6.163
20.33
13 642
N. Y. C. A H. R .. August .. 3,978,837 4,240,8
29. 49,477 29,22*».805
N. Y. Ont. A W .. 4th wk A u g
11 ,87 j 2,462,103 2,562.511
131,2*3
N. Y.Susq. A VV. M ay.........
18 V.05O 181,922
803.250
820,663
Norfolk A West. lth wk Aug 218,697 222,8 3 7,237.748 6,962,684
Northes’n (G a.). May. .
3.833
4,294
28, 2 4
23,804
Northe’s’niS C.) March
162,076
45,870
50.230
160,159
North’nOeutral. J u ly .........
530.8*5 5 l7,0 7 3.5 43.309
North’n Pacldo. 4Uiwk Aug
811,126 630.052 14,393,d l l
Ohio R iv e r ...... 4th wk Aug
23.153
24.0 2 8
593,564
593.578
OhioRiv.AOhas. l uiy.........
12,665
12,923
112,971
Ohio Riv.A L.E. M t y .........
12,255
2,800
1,901
10,809
Ohio Southern.. J u ly .........
300.183
48.381
45.220
3->0,O52
Oiu.Kau. C A E .
11.533
14,240
158.55
wk.Mcu.
114.754
Oreg.RR.de Mav. u h w k Aug
7
151 500 190.0 1 4.364.635 2.972,065
Oreg. SIl Line.. J u ly .........
565,673 559,34^ 3.019,126 3,265.>47
Pao. Coast Co.. J uue . . . . . .
439,131 311 9 >8 2,731.64
1,60*595
Pacldo Mail. ... July.........
471.595 3 0,0
Pennsylvania^.. J uly......... 5,162.295 5,480,395 36,525,7* 0 35,069,906
PeonaDeo.AEv. 4thwk Aug
»»1, L79
30,6 ^3
592,952
5 73,198
Petersburg...... J u u e ........
313 93 7
52.149
60,427
311,713
Phlla. A E rie... lu u e ........
300.218 373.5 m 1.883,222 1,864.*.07
Phi la. A Read... M ay......... 1,097,540 L.013,1**2 8,280.40
7,7x9,901
Coal A Ir. Co. M ay......... 1.002,851 1.037,609 7,931,568 7,180,302
Tot. both Co’s. Mav.......... 3,5u0 397 3,250,711 10,211,973 14.900,263
Phil. R. A N. E. J u ly .........
57.164
49.034
34 •>,0
353.666
PhlL Wilin.
B. j , u y . . ; ; :
920.878 815.770 5,57o,0" 1 5,091,801
Pitta.C.U.dfcSt. L. J uly......... 1.231,892 1,171,245 8,77 i.l78,0 j 9.« 18
Pitts.Lisb.dE Wu J uly.........
•25,4 76
2.040
3,378
2 >.480
Pitts. Bes.A L, E. J u ly .........
146.20L
326.t 02
648.73
60,903
Pitts. 6 Wes’u .. 4thwk Aug
58.4 0
1,1*5. 86 1, lo7,210
4 ,81
Pitts.Ci.dc ToL U h w k A u g
33.248
5 18.690
7**2.039
20,403
Pitts. Pa. de F. 4th wk Aug
2 1o,729
13.3 j 4
22o,907
11,818
Total system. Atu wk A u g
10 5,0 76
84,030 2,109,740 l,081,e88
Pittab. Y o.& A .. •uue
148.835 182.520
58 ,313
714,307
K ic u .P r’a s »dt P. July,
75.3 7
430,>24
520.44 4
57,97
Rich.Jc Petersb. luue
20 4,124
37.774
178,520
31,251
Rio Graude Jot. Juue
175,562
24.613
37.005
133,463
RioGraude So'u 4thwk Aug
30 5,719
13.830
23 *.905
9.715
Rio Jr’de West. |3d^vk~Aug.
65,000 1,993.665
56,600
St. Jos.<fcGr.I... 4tbwk Aug
764.0 .5
29.0 15 37,750
Sc. Cui.de St. P. IA u gu st....
218,406
24,o04
3 ,900
189.754
St.L*.Keu’etdc So July.
36,135
6.120
0,677
31.118
8t.L.<ScSanFran. ,4thwk*Aug 209,930 225,038 4,3b0 211 4,004,949
St. L. Southwest. 4th wk A u g
1 43,581 135,3 9 3,173,437
a t Paul
I\..l
•
°
St. Paul *■. D al.. July
125,003 126.183
778,360
811,507
San. Ant.
A. P M ay.........
701,582
129.209 144,858
777.254
San Frau.de N.P. J uly.........
454,«23
87 684
85,092
422,313
S. Fe Pres, de Ph. 2d wk J uly
15,072
42 2,448
13,220
368.026
Sav.Fla.de West. J u n e ........
482,2 7 320.384 2,061,313 1,734,704
Sher.8hrev.deso.___ ______
145,209
5,842
athwkJuly
141,370
6,998
SU.Spra.O. deG. June
13.604
27.816
132,440
100,589
Sllvercon ......... J u l y .........
1.400
6.054
Sioux; C. & N or. J u u e ........
111,981
20,763
10,955
1*66*.871
So.HavendfcEaat J u n e ........
3,100
12,454
2,535
10,788
So. Paoltic Oo. - 1
Gal.Har.de 8. A 1 ay.........
M
474.441 337,937 2,249.909 1,810,574
Louia’a. West. M a y .........
99.832
70,941
506 952
406.340
Morgan’aLdeT. M ay ......
490,330 383.273 2,524.572 2.076,954
N .Y .T . deMex. M a y .........
23.341
125.516
22 49 >
116 751
Tex. dcN. O rL. M a y .........
133,204 1 8,957
657 848
634,285
Atl. Prop’tes.5 M a y ......... 1,235.370 944.5r>5 6,177,969 5.128.068
So. P ac.of Cal. M a y .........
945,835 789.270 4 532,029 3.753,936
8o.Pao.ofAriz. M ay.
212 s38 1,470,63 L 1,062.817
288,323
So.Pac.ofN.M. M ay .........
120 870
576 007
734.370
101.699
Northern R y.. M a y .........
884.260
202 800 172.722
7*7.761
Pacldo system M ay........ 3.5L1.737 ,051,238 15,4*7,9
12.220,807
Total of all./ J uly......... 4,466,568 52 ,208 31,770,3 9 6.9 1,422
Southern Ry
4>hwlc A u g 693,059 577,9 4 14, L02, >42 12,595,942
631,292
730.1 *4
Memphis Div. 4thwkJ’ue
31.455
32,1 5
9,814
9,, 94
3.789
4,137
SUmyCl.deC.Mt. June ......
134.558
161. *28
4 1 *4
Texas Central.. 3 d w »A u g .
4.405
Texas
Pacldo. 4th wk Aug
194,217 212. 38 4.515 38 4 4 083 593
1 ,154
24 971
2,900
Tex. S.V.de N.W. J u ly .........
4.198
1,03 s.877
29,2*4 7 1,18 >.71
Toi.<fcOhio Cent. 4tuwk Aug
58,331
547.7-1
22,155
508 0 47
Tol. P.
West.. 3d wk Aug.
20.876
71,211 1,43 > 412 M 46.162
Tol.St. L.
K.O. ltliw kA uii
7 5,589
Union Pac. RR.. J u ly......... 1 435 810 399. *80 9.1 -6 38 * 8 116.012
*-02,456
00.0 L •2,303,175 2,
71.222
Jn.P. Deu.de G .. 3d wk Aug.
445.20/ 40 7.125 8,747,486 /,5*1.541
•Vabash. -------- J th w k A u g
a 751
97,518
12 130
9.221
•Vacode North w. J u u e ........
359 8 1 334 173 1,418.631 1,3>1,302
W.JerseydeSea’e J u ly.........
673,30
651,‘> 6
vV V.Cen.dePitts J u ly .........
.
9 7.495 100 209
150 559
15 *,765
33,823
31.307
•VestVa.de Pitts. M ay ....... .1
30 <.208
43.4-4
30 ,054
43.177
Vesteru or Ala. J u n e ....... I
110.900; 1.943.135 1,870.337
92 2 0
West. N.Y.de Pa. 4r,hwkAug
9 0 71
20.413
636.991
47.9951
Wheel, de L. Erie 4thwk Aug

2.211

1

7

7d

3.574.068
11,313,791
90,326

13

&

c

7

1,
*48,592
708,947

L.

2,753,895

A
A

,g..

A

A

A

b

TH E ('II RON I ( ’L l

52 4
Ro a d s .

W IU w sb .A East.
Wll. C ot A Aug.
Wisconsin Cent.
Wrtghtsv.ATen.
Y ork Southern

La it st Gross W arnings.

Jan., 1 to Latest Date.

------———

Weekor Mo

A p r il-.___
March ...
itbwIcAttg
J u n e ......
J tily.........

a

1898.

1

1898.

1897.

1897.

$

8

$
27.433

$
34.497

69.270 56.130 205.092 186,357
147,956 137,905 3,173.25 j ] 2,794,* 91
5,364
5,826
41.073
38.934
5.6881 5.187
•10.908] 36,244
t>

Timas rigurv* include results on leased lutes.
i acini lea earnings
from ferries, etc,, not given separately,
luolmlen D ch Moines A
K ansas City for nil period*.
tuMudos operations of the Chic. Bur­
lington a Northern in both years.
Include* results on A. T. A 8.
Fe, G u lf CoL a
Fe, S. Fe Pool do old Atlantic
Pacific* and 8 0 .
Cal. Hi*.
Includes the Pact Tie system. the Atlantic properties an d
the Houston A T oxua Central system,
?
Beginning July, earnings of
Memphis Division and Mlddlenbo rough A Aiken branches are included
fnr hot ti years.
A Pas sen cor earnings in 1897 were Increased by
G. A. R Encampment in Buffalo.

c

<i

.

f

e

<

A

a

fVoL. LXVIl,

Net Earnings ttoiithly to Latest Dates.—The table follow­
ing shows the gross and net earnings of S
railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, ana the latest statement of
diis kind will be found In the Chronicle of August 27, 1898.
The next will appear in the issue of September 24, 1898.
team

-Gross E a rn in ys .—
1898.
$

Ronds,

Canada Atlantic—
Apr. i to June 3 0 ... .
203.268
J b q . 1 to Juae «jO,.„,
350,536
Cent, of Georgia. n -.J u ’y
r
*149,625
. 2,913.678
• 1.786,57 7
. 0,631,149
98,747
121,214
861.087
. 1,179,292
i
U S , 764
7*2 L.991
1,501,431
r
99,605
.
740,6 Ja

R A Pac * Remits ou Kansas City & Independence Air Line are not included Chte.Apr,tsl to July aJl.July
1
...
t IncludesChicago and Texan forSo*western for both years, but Ohio Ohio. Term, rrausLbJttlyt
Chesapeake ife Ohio 1998 only.
V alley and
Ohootaw Qkl.July 31___
i Mexican currency.
Jau. I to AG.b, July
l]Covers results of lines dlreotly operated east of Pittsburg.
Nov. 1 to July 31—
Clev.Lor. 1AtoWheel, siJane
Jan. June 30__
Latest Gross Earning's by Weeks.—The latest weekly earn­
July L to
ings In the foregoing are separately summed up as follows: Ft* W. A Den. Juae 30 ...
Clty.b .July
Jan, 1 to July 3L..
For the fourth week of August our final statement covers Gt’d Rap. Gas-u Co. A
70 roads, and shows 9'71 per cent increase in the aggregate
Jan. 1 to Aug:. 31.
for cither year,

over the same week last year,
There was one less Sunday in the month in 1898, giving an
extra business day.

Bait. .v Ohio Sonthwest.
Buff. Roeh. A Pitts.........
Burl. Ctrl. Rap. A N o......
Uaioavo A Bust. Illinois.
Cbio. Great W estern.-...
Cbic.Todian'Jis A Lon isv.
Chicago MUw. A .St. Paul
Chic. Term. Transfer ..
Olev. Cln Ohio. A St. L .
Clev. Lorain A Whcel’g..
Col. Sandusky A Hock’g,
Denver A Rio G rande...
Det. A Lima North......
Duluth 8o. Shore A Ati
gvanav. A radianapolla.
Evansv. A Terre Haute.
Flint A Pure Marquette
Ft. Worth A D enver City
Ft. Worth A Rio Grande.
Grand Rapids A Indiana
Cm. Rich. A Ft. Wayne
Musk Gr. Rap. A la d ..
Grand T runk.............. .
Chic. A Grand Trunk >
Det. Gd. H. A M ........
International A Gt. No..

/
S

Kanawha A M ich igan ....
Kansas City A Omaha ...
Kan. City Plttab. A G ulf
Kan. City 8ub. B e lt ......
Lake E rie A W estern...
L io lsv . Evansv, A 8c, L
Loclaviile H ead.A St. L..
Louisville A N a s h v ille ...
Mexican Central............
Minneapolis A St- Louis
Minn. 8t. P. A S . 8t*. M ,
Mo. Kansas A T e x a s .....
Mo. Paolllo A Iron M l....

ft-

Y. Ontario A Western
Norfolk A W estern ...___
Northern P a d lie___ . . . . .
Ohio R iv e r.....................
OrRiron RK. A N uv.........
Peoria Doc, A E v a n sv ...
Rio Grand© Southern___
Bt. Joseph a- Gd. Id ap o .
8t. Louis A Sari Fran......
8t- J^ouis Booth western..
Southern R ailw a y ...*.
Toledo A Ohio Central.
Toledo Bt. L. A Kan.City
Western N. 5". A Peon...
Wheeling A Lake E r * «..,
Wisconsin C en tral..____

Increase. Decrease.

$
54,874
44.082
11.850
213,637
122.562
173.7/0
718.Q00
364.696
108,284
188.65*/
102,62>'
1.119,147
29,724
474,970
49.830
30.245
266.560
15,102
65,253
10 65i
41,63^
94.671
28,436
9,537
34,566
26,445
85.652
14.633
1,329
4.184

8
43,093
40.39]
9,5 4C
185,533
94.40 i
13*.316
684,00(
333.970
86,727
176,21
S
96,55k
973,831
25,18416,663
36.38t
12,292
232,40
9,370
61,184
8,593
35.*i98
82,345
35,621
8.2 13
38,768
22,93*
66,768
12.2ox
1.217
4.03y

663,036

700,780

37,684

30.417
04,29 i
13,614
5,205
113,999
17.354
18.255
1 .s 976
46,*23
15,530
641,795
352,950
157,29 s
71.305
113,014
340,737
9L6.00C1
55.000
131,383
218,697
8U .126
24,826
181.500
31,17105,070]
13,830
29,s35
209,930]
143,583
693.059
194,217
58,331
75,583
445.267
92,200
<17,99;
147,950

120,959
49.01 *
12.125
8,760
76,615
13.698
20,05b
113,373
44.089
19.189
568,858
313,98d
142.53*
63,JOt
102.0-1
368,853
870,000
51,001
114,873
222,823
630,052
23,153
190,037
30,688
88,038
9,715
37,750
225,038 i
135,309
577,964
212,5329.217
71,211
407,125
110.WC0
20,413
137,905

40,512

$
11,78]
3,691
2,310 j
28.104
28.16J
35.454
34.00
SO,726
21,55’
12,433
6,071
145,31 ©
4,538
58,30)
7.414
17,953
44,100
5,732
4.069
2,059
6,340
12,326
1,324
3,514
18.884
2,365
112
145

*
______

37,334
3,656

7,135
4,202

1.801
3,659

211,074
1,675
496;
17,038
4,115
8,214
115,095
29.034
4.372,
38,142
21,882
10.051

28,110

4,126
38,337

........

b

18,321

18,700

361,470
684,810
94,310
683,085'
c*245.277
cl,686,002
3,265
25,052
18,837
147,570
364,959
265,810
1,831,745
67,319
98,584
254,624
1,480,030“
20,927
17,557
73.481
250,233
1,138,327
1,477.8*56
137,075' 560,590
25,033
139,503
1,313,727
8,570,511
26,500
260,828
37,706441,086

a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
c Deduotingotherexpenditures for repairs, replacements and general
expenses, net: Income applicable to Interest on bonds in July was
$93,425, against $ i 09,281 lost year, and for January 1 to July 31_
$647,262, against $874,802. This is the result in M exican doilara
treated (according to the company’s method of keeping its accounts)
as equivalent to 80 cents in United States money—that is, depreci­
ation beyond 20 per cent has already been allow ed for.

^NORTHERN PACIFIC,
J u ly , 1898.
Gross earnings............................... -.......$1,916,699

J u ly , 1897.

946,822

$1,840,361
1,050,267

Net earnings...................................... $969,877
Opcr. charges, taxes and improvements
145,940

$790,094
*42,900

Net operating income....................... $823,937
Mlsoel. income, not including land sales
5,027

$747,194
2,735-

Operating e x p e n se s.--...........................
7,915
15,108

$

70,218
89.156
95.090
132.398
148 012
89,236SCO, 109
790,879
602, 188
654,338
1,987,310 1,078,636
513,207
63,285
37.685
34.007
281,27?
141,588
422,2*5
234.011
3 4,32 4
40.551
194,604
172.726438,924
324,806
28,778
26,777"
240,120
112,051
9 ,L 9
7,297
80,234
76,0-48.
1,981,075
405,007
476,120
12,685,769 4,507,068 3,431,525
161,130
28.954
58,938
1,040,967
291,440
31 c,246
295,551
30,047
101,692
1,754
1.775
15,315
13,218
10,688
9,074
________
66,092
54,888
570,637
509,429-

2,052,074
15,282,593
190,083
. 1,223,074
325,469
Jackson Gas-L. C o...A ug.
Jan. l to a u g . 31. .
........
Mar. 1 to Am?. 31....,
,
__ _____
Laclede Gas-L. C o...Aug,
Jan. 1 to A u g 31____
Lehigh Valley in N. Y . —
Apr. l to Juae 30___ 1,225,489 1,209,464
286,655
Jan. 1 to Juoe 30___ 2,398.200 2,330,040
684,200
240,045
263,010
108,899
Mex. International..July
Jan. 1 to July 31...... 1.933,983 1,782,811
746,007
Mexican N ation al..,Ju l 3r
509,329
489,526
0.219,176
Jan. 1 to July 31...... 3,544,427 3,488,551 c l , 595,792
11,469
Mexican Telephone..July
10,525
3,323
78,444
Jan, l to
31......
73,512
28,333
52,040
Mar. 1 to July 3L,___
56,418
20,402
N , Y. Ont.A West a . .July
349.887
407,986
103,179
Jan. 1 to July 31...... 2,08 i,94L 2,175,634
514,690
865.271
268. U 7
Norfolk & West'n a .July
892.409
Jan. 1 to July 31...... 6.329,238 6,012,51
1,733,854
Ogdensh, A L. Champlain
175,789
188,822
Apr. I to June 3o---33.819
307,887
3 i6,472
J&u. 1 to June 30,....
44,555
559,342
565,673
270,525
Oregon Short Line.a.July
3,619,120 3,205,347 1,692,719
Pacific M ail......... ...J u ly
471,595
330,057
207,062
70.048
80 318
Peoria Deo. A Ev. b . May
11,123
349,001
63,580
Jan. 1 to M ay 31. ...
359,222
928,878
815,778
337,433
Phila,Wilm. A Balt, July
5,5 70,06 L 5,091,861 1,358,127
Nov. 1
July 31. ... 7.069.023 6,439,92 3 1,755,026
271,807
Rio Grande W est.b.. July
306,793
86,656
Jan. 1 to July 31. ... 1,333,865 1,480,792
686,423
80,068
8t. Joa. & 04. Lai., a .July
84,379
12,256
653,82 5
587,504
17c ,3 46
Southern P aeifio .-b July 4,466,508 4,522,208 1,586,910
Jan. 1 to July 31.......31,776,339 26,90*,422 10.741,596
Toledo A Ohio Con, b. July
150,671
115,874
40,585
Jan. 1 to July 31...... 1,023,657
94»,o55
295,3/6
On. P. D. A G u lf.b . July
273,654
281,047
68.347
Jan. 1 to July 3 1 ..... 2.090.279 1,863,248
632,359
Iow a C en tral.b_____ Aug,

to

3,557

1897.

227.211
378,536
359.1 i9
2,739,094
1,681,773
5,586,428
81,063
102,557
580,012
842,224
129.615
606,655
1,205.150
97.63?
590,256

J

___

2.603
2,734
72,937
38,967
14,760
7,899
10,SJ3
......
4\000
4.000
16,410

1898.
S

July

14.078
6,489

o l

A labam a Gt. Southern...

1897.

1898.

o 1
€J 1
*

icrek o f A it gust.

O |

4/
/<

Xet Earnings.

1897.

Total net incom e.......................

* included only taxes iu 1397.

$328,964

$749,929

M onth o f A ugust.

1898.

b>
cc

Interest Charges and Surplus.—The following roads, in
addition to their gross and net earnings given in the fore­
For the month of August 92 roads (all that have furnished going, also report charges for interest, &o., with the surplus
statements for the full month as yet) show aggregate results or deficit above or below those charges.
as follows ;
-In i., R en ta l,, <ie. — ~ B a l, o f Ret M arn’gs.11.961,765

Ketlnorenoe |9'71 p. o.)..

1,287,598
........... j 1,058.225

1897.

S
$
Gross earnings <92 roads) 44,482,584 42,608,959

Increase.
$
1,873,026

229,373

Per Cent.
4-37

Hoafts

Ohio. R. t»l. A P a e - July
Apr. 1 to July 31......
Ohio. Term. T ran sf.-J n ly
OUoo. Okla. & H ull.. July

It will be seen that there is a gain on the roads reporting in
Toledo & O. C on i....July
the amount of $1,873,625, or 4'37 per cent.

1898.
*
322,851
,291,407
53,943
20,000
178,000
39,834

1897.
8
342,500
1,370,003
56,368
19,000
171,000
40,474

1898.
1897.
tx
279,437
311,838695,903
308,633
2,264
6,917"
17,085
15,007
244,285
63,061
*1,517' ilef. 10,724

T H E C H R O N IC L E

September 10, 1808.J

62)

STREET RAII.WAYS AND TRACTION COttPArtlSS
ANNUAL REPORTS.
The following table shows the gross earnings for the latest Annual Reports.—The following is an index to all annual
period of all
railways from which we are able to o b ­ reports of
tain weekly or monthly returns. The arrangement of the companies steam railroads, street railways and miscellaneous
table is the same as that for the steam roads—that is, the of the I which’ have Sbeen published since the last editions
R
S
.
first two columns of figures give the gross earnings for the
.
latest week or month, and the last two oolumns the earnings This index does not include reports in to-day’s C
R
M
.O ’
R
& Mis. Go’s— (Con.)
or the calendar year from January 1 to and including such
67—
Volum e 6 "—
Page .
latest week or month.
A m erican C ereal C o.............................3 6 S N o rth e rn P a c if ic ................................ 4 7 7
street

nvestors

and

treet

a il w a y

upplem ents

o s

a il r o a d s

h r o n ic l e

a il r o a d a n d

STREET RAILWAYS AND TRACTION COMPANIES.

Latest Gross E arnings. Jan. 1 to Latest Date.
1897
Week or Jfo 1898. 1897. 1898.

E a r n in g s .

Akron B e d f d & CLev July.........
A lb au y R ailw ay....... July.........
J uly.........
Atlanta Railway ... J u ly .........
Baltimore Con. Ry.*.. A u gust___
Bath 6t. Ry. (Maine). M ay..........
Bay Cities Consol ... J u lv .........
Binghamton St. R y... J uly.........
Bridgeport Traction August---Brockton Con. St. Ry. J uly.........
Brooklyn Elevated.. J uly.........
Br’klyn Rap. Tr. Co.—
Brooklyn H eights Au gust___
B ’fclynQ’nsatSab. s
Charleston City Ry.. J u ly.........
Cin. & Miami V a l.. .. J u ly.........
Citizens' 8t.Ry..lndu. A p ril . ..
Cltiz ns’(M uncieInd.) M a y .........
City Elec. (Rome.Ga.) J u ly .........
Cleveland Eleotric... J uly.........
J u lv .........
Cleve. Painsv. & E.
Columbus St. Ry. (O.) A u gu st---Oonsolt’d Trae. (N. J.) April ......
Dan v. Gas El. Light &
Street K v ............. J u n e ........
Dayton
W est Trac. J u ly.........
Denver Con. Tramw. J u ly.........
Detroit C itie s’ St. Ry A u gust___
Detroit Eleo. Ry....... A u gu st___
Duluth 8t. Ry.......... J u ly .........
___
Erie Elec. M otor....... J une
Ft. Wayne < Belle
fc
Island ( Detroit)----- Au gust___
Harrlsourg Tract iou J u ly .........
Herkimer Mohawk II
Ion 6c F’kfnrt Ei. By. J u n e ........
Houston Elec. St. Ry. J u n e ........
Interstate Consol, o:
North Attleboro — M arch____
Kingston City Ry—
J u ly.........
Lehigh Traction .... J u ly.........
Low ell Law. 6c H a v .. J u ly .........
Metrop.(Kansaa Cltyi August___
Metro.
Side (Chic.> u n e ........
Montgomery 8t. tty.. M a y .........
Montreal Street Ry... J u ly .........
Muscatine St. B y ...... J u ly .........
Nassau Eleo. (B ’klyui A u gu st___
N ew burg St. R y ....... July ........
New Loudon at. Ry.. J u u e ........
NewOrleausTractioo J u ly .........
Norfolk St. By.......... J u lv .........
North Chic. St. B y... A ugust___
North 8hore Traction J uly.........
Ogdensburg St. By... July.........
Paterson By ........... July.........
Richmond Traction.. J uly.........
R oxb’h Ch.H .A Nor’o July.........
feohnylkill Val. Trac. J uly.........
Boranton 6c Carbond’e July.........
8cranton 6c Pittston. J u ly .........
BoraDton R ailw ay___ J u ly .........
Byracuse Rap.Tr. Ry. J uly.........
io ro n to R y ____
August___
Twin City Rap. Tran. J u ly .........
Union (N. Bedford).. J u ly.........
United Tract. (Pitts.) J u ly .........
United Tract. (Prov., J u n e ........
Unit. Trac. (Beading) J u ly .........
Wakefield 6c Stone_ J u ly.........
_
Waterbary Traction.. J u ly .........
West Chicago St. By W k S e p t. 4
Wheeling R ailw ay... March......
Wilkeab. *fc Wy. Valley July.........

)

&

W.

J

*
$
$
51,029
54,875
11.304 12.624
60,722 56,879 359.84
326.838
5,096
30,552
*,451
27,537
57,403
12,361
9.058
50.' 38
220,352 223.870 1,563,531 1,537 653
1,721
7,54 ■
1,932
7,0 1 3
9,093
48,323
9.915
46, 31
17,435
“ 0 55)
82,778
18.975
212,310
37,410 31,361
237,315
190,470
184,574
34 557 33,293
148.000 120,000
...........
........
563 25 7 477,400 4.042,728 3,517,918
101,672
17,518 15.827
........
13,4bl 10,552
79,902 68,031
315,39
28
26,74
5,327
*2,872
5,671
13,835
2,181
13,024
2,741
9 71,12147.96H: 143,20
922,896
45,3 sm
9.1-5
55.336
13.U69
442.13386,611
57,518 5i.976
88a,o*0
252,2.* * 2 d8,8 Lb 965,24$

........
3,6

8.200
8,138
6.364
6 9 ,U 5 67,44!
109,932 101,682
3-*.16o 30,64
17.746 LM.450
12,212 12,736

53,00... .......
420.752
775,052)9,1*7
112,419
63,67c

50,831
...........
406,8^ ■
*
721,818
f 65,010
108,00
63,2 o3

16.533
27,238

16,225
23 210

120,160
A46.961

112,264
125, *54

2,868
17,151

2.799
17,047

19,4 5ft
88.853

20,43**
91,517

1

is c e l

V o lu m e

t

26,843
27,w01
9,523
10,297
38.667
30.331
9.29 > 5,516
53,6 6
59,793
9,1*3 10.857
256,o35 213,3
55. 79 50.523
168,644 1,321,104 1,19 J,491
18<i .3u 1
612,418
97,8 9
22,748
5 ,5 0 0 5.47S
76.8.338
143.^8 7 129.*46
83*.938
4,278
31,776
29.780
4,673
239.5*6 226,81) 1,46«,U •0 1,28*\949
10 5946,575
44.68 »
11.564
21,104
1^,87 *
5,201
6,059
112,163 104,003
792.315 758,612
96,9 *
19,799 15,770
83 847
259,023 255,014 1.929,969 1.839,653
>
172,6-0 158.86 • W22.r3t 792 4*9
9,945
10,432
2,63
2,673
392.258
37,427 34,902 209,4 so
15,004
83 098
71.9 *1
4 5,204
14,262 11.092
59,900
35,7.44
32.038
7,116
6,d?y
20.02 <
3,343
6.071
34.230
2 3,339
34,330 33,251
195,09241.165
43,299 38,700 264,443
110.30' 93,22b
196,516 184.7 It* l,20l.55L 1,1)5.1419,089 22,480
106 356
140 561 127.3*3
869,677
806.957
817,774
148,964 146,943
109.186
23,947 23,444
116,71 *
32.2*9
7,883
3.,954
7,583
142,170
26,518 23,949 155,403
....
8*,877 81,154
36.532
12,450 12,444
39,276
45.222 44,484
272,195
279,278

->l

21.582

S

‘L

13,022

125,089

' Includes Baltimore Traotlon and City dt Suburban (o r both years.

Page.

A tchison T opeka & S a n ta F e ......... 2 ’ 1
B oston & A lbany.................... 3 1 6 , 4 7 S
B oston & M aine.......................
:t»>7
B oston E lec tric L ig h t......................... 2 7 2
Buff. Koches. A P i tts .3 I (i, 4 ‘2 *, * 3 ‘2
C alum et A H e c la ..................
2 *0
C en tral Coal A C o fce...........................3 6 9
C hesapeake A 1‘h io .................3 1*5, i l 2 •
C hicago B u rlin g to n & Q uincy-------2 7 l
C alc. A E ast. Lll .................
, 4 ‘2 i
C hicago G re a t W e st.. . ‘. £ 1 9 . 4v !3 , i i ' i
C hic. A N orth W est.. . 2 1 9 , 2 4 4 , 3 l •'*
Chic. P e o ria A St. L ouis................. 3 6 7
C leve. Cin. C hic. A S t. L ..................4*2 1
D en v er A Kio G rande.r27 1. 4*2S. 4v59
E rie RR ....................................................4 7 7
F all B rook R y ...........................................* 7 9
F itch b u rg R R ........... ...................... 3 6 S
G eorgia A A lab am a —
----- '2 ? 2
G lucose S u gar R efining (1 0 ^ m o s.)‘.£7*.£
Iow a C entral Ry ...........
— 397
Jack so n v ille I’a-npa & K ey W e 5 t.4 ? 9
K. C. F r. S. A M em ............................. 4-2*
Iv. C. M em. A B irm ..................... — 4*2 l
L ong Islan d
........................... 2 7 2
L ouisville a N a s h v ille ...................3 1 9
M an u a tta n R y .......................... ....... 3 9.S
M exican C entral Ry. (six m o n th s) 17,S
M o b ile * O hio ...
.................*27*2
N. V. O nt. x v V e ste rn .3 9 7 , 1 7 7 , 4 8 >
N ew E ngland ..................................4*2 5
N orfolk * W e ste rn ............................. 2 7 2

O hio F a lls C ar M fg................................ij$ 0
O regon R R . & N a v ig a tio n ............... 3 1 9
O regon S h o rt in e ............................ 3 9 S Pacific M ail SS. C o................................2 1 9
P e o ria & F a s te rn .................................. 4 2 5
R ailw ay E q u ip m en t Co. o f M in n ..3 6 8
R io G ran d e S o u th e rn ......................... 42*5
Rio G ra n d W e ste rn .............................4*^4
St. L ou is * S an F ran cisco .. 2 7 2
San Francisco B rew er e s(L im ite d )3 9 9
S ta te n Island R ap id T ra n sit........... 3 6 8
S o u th e rn R ailw ay ...............................3 9 6
U lster & D elaw are..............................4 7 8
U nited E lec tric S e c u ritie s................4 8 0
• n ite d S ta te s G la ss.............................4 S 0
W a b a sh R R .........................................3 1 6
W a g n e r P alace C ar Co....................... 3 6 9
W elsb ach L ig h t..................................... 2 2 0
W e stern N. Y , A P e n n ..................... 3 1 6
W e st Y a. C ent. * P itts b u rg ............4 7 8
W isconsin C entral C o.........................4 2 4
St r e e t R a i l w a y s .

Volum es 67—

Page.

B rid g ep o rt T ra c tio n ........................... 4 2 R
Buffalo R ailw ay......................................3 9 8
B rooklyn R apid T ra n s it....................4 2 5
M etro p o l. S t. R y .o f K ansas C ity ..4 7 9
M iddletow n -G oshen T ra c tio n . . . . 4 8 0
M u scatin e E le c tr ic ...............................4 * 0
T h ird A v e n u e R R .................................4 8 0

Chicago Milwaukee & St. Paul Railway.
( Report fo r the year ending Jane 30. 1898. J
The remarks of President Miller, together with income
account and balance sheet, will be found at length on
pages 531 to 533, furnishing full particulars concerning the
property and the year's operations.
The comparative tables of earnings, income account, etc.,
for four years have been compiled for the C
as below:
OPERATIONS.

1897-98.
Miles oper. June 30.
6,154
*—
Locomotives............
815
Passeagerequipm ’t.
784
Freight A nits cars.. 30,264

E quipm ent

Operations—

h r o n ic l e

1896-97.
6,154

1895-96.
6,151

1894-95.
6,169

830
778
27,819

833
777
27,961

8«3
77627,931

Passengers carried.
7,427,614
7,154,689
7,427,614
7,235,299
Pass, carried one m 260,821.497 ’51.110.669 230.821,497 244,225,688
Rate perpass. perm
2*357 cts.
2-277 cts.
2-357 cts.
2-396 cts.
Freight (tons) ear’d. 12,210,"55 11,554,153 12,210,055 10.475,942
Fr’hi(tons)car. 1 m . t2.381.667 12,193.241 t2,381.667 t l , 765,245
Rate per tun per in..
1 003 eta.
1-003 cts.
1 008 cts.
1*075 cts.
Includes n arrow gauge equipment

tThree ciphers (000) omitteiL

EARNINGS AND EXPENSE

1897-98.
$
5,986.840
Passenger...............
Freight.................... 25,4 68,852
Mail, express, e tc.. 2,733,972

1896-97.
*
5,717.496
22,104.303
2.6G4.469

1195-96.
$
23,887,930
e, 147,679
2.6*6,220

1894-95.
$
5,852,781
1^,978,263
2,504,325

Total earnings.. 34,189,664

E a rn in g s—

30,486,768

32,681,829

27,335,369

4.642.275
2,9 IS ,-.24
9,390,370
221,514
1,078,816
217.470
1,134,131
1,125.000
473,468

4,334,955
2,464.839
8,475,313
•229,177
981,205
210,257
1,184,231
200,000
494,562

4,374,724
2,942,295
9,102,785
251.675
992,079
183,314
1,082.084
350,000
397,851

3,703,466
2,085,309
8,348.158
293.432
966.955
139,820
1,084,700

Total expenses. 21,201,567
N et earnings........... 12.9=8,007
P. c .o p .ex. to earns.
60-21

18,577,539
11,909,229
60-94

19,676,808
13,005,021
60-21

17,043,753
10,291,616
.62-35

1897-98.
$
12,988.097
131,018

1896-97.
$
11,909.229
162,822

1895-96.
8
13,005,021
64,857

1894-95.
$
10,291,616
134,647

Expejises—

M ain of way Asfcruc.
Main, of roil’g stock.
Conduct, tra n sp o rts
Loss and dam age...
General offices, & c ..
Mileage of cars......
T a x es......................
Renewal account ..
Miscellaneous.........

INCOME ACCOUNT.

Receipts—

421,913

Street Railway Net Earnings.— The following t a b le g iv e s
the returns of S
railway gross and netearumgs received
this week. In reporting these net earnings for the street rail­ Total netincome 13,119,115 12,072,051 13,069,878 10,426,263
D isbursem
ways, we adopt the same piaa as that f >r the steam ro id s — Interest on dentst ....
b
that is, we priat each week all the returns received that M iscellan eoues...... 7,190,413 7,488,747 7.611.9*28 7,629,377
57,560
week, but once a month (on the third or the fourth Saturday)
we bring together all the roads furnishing returns, and to e
T otal.................
7,629,377
7,669,488
7,190,413
7,488,747
latest statement of this kind will be f ound in the C
5,400,390
Balance for dividend 5,928,702
2,796,886
4,583,304
of Angnst 27. 1898. The next will appear in the issue o< According to the company’s method of accounting, one of
September 24, 1898.
the two semi-annual dividends paid on the common and pre­
---- Broil R am m g i. ---- ------- Set Sam tngi- ----- ferred shares daring each fiscal year is charged to the earn­
1898.
1897.
1898.
1897.
ings of that year and one is paid oat of the earnings of the
Roadi.
S
9
#
#
Bridgeport to Aug. .. Aug. 37,410 212,316 111,995 18.497 year preceding. This system is too complicated to be fol­
Traot’n 31......... 237,315 31,361 20,597 *8,692
Jan. I
lowed in above income account, and consequently the divi­
July 1 to Aug. 31......
75,228
64,375
39,982
34,293
Brooklyn Rapid T ...J u lv 571,360 489,463 228,873 176,286 dends paid daring each fiscal year are stated separately as
follows:
Columbus1(O.)St.Ry31......... 57,548 51,976 26,909 25,618
DURING
Jan. to Aug. _Aug. 442,135 386,611 221,697 199,456 Stock - DIVIDENDS PAID 1896-97. TIIE FISCAL YEAR. 1894-95.
1897-98.
1895-96.
Common.(5 *u)$2,531,463 (4) $1,811,090 (3) $1,380,817 (3) $1,380,818
Interest Charges and Sarplns.—The following Street Preferred(7) 2,104,245 (7) J,896,363 (7) 1,846,315 (7) 1,818,802
railways, in addition to their gross and net earnings given in
the foregoing, also report charges for interest, &o., with the Tot. Div. $4,635,708 $3,737,453 $3,227,132 $3,199,620
surplus or defloit above or below those charges.
Out o f th e s u r p lu s o f $5,928,702 f o r th e la t e fisc al y e a r, th e
-----tn t., rentali, tic.-----. r-B al. of Hot S a m 's
c o m p a n y p a id its A p r i l , 1893, d iv id e n d s o f 2l 2 Per C6nt on co m ­
/
1898
1897.
1898.
1897.
m o n a n d 3 }^ p e r cen t on the p r e fe r r e d stock, th ese d iv id e n d s
Rnadi
*
*
*
*
g
i p
in
t b
n
to
Rrooklyn Rapid T... July 178,031 180,259 -290,275 *10,948 a g g raem a tuintg o$2,237,989, a n d wlul ld inagy th e Odcivoide rn dd ivfid e% d sp e r
the
o n
f $2,264,32«, in c
e
o
* A ltar allowing (or other Income received and also profit on sale o(
Not earnings...........
Other income.........

treet

h r o n ic l e

onds owned

by B. R. T. Co.

2

cen t d e c la r e d th is w e e k on th e c o m m o n stoc k a n d th e 3*^ p e r

5‘76

TH E CH RO NICLE,

on the preferrel shares. Ttiese piymsnta wilt le*ve a
balance on the year’* operations of $1,420,$31.

coot

OfcNKSvL B it .1X01 SUKET JUNE 30,
1896.
1§98.
1897.
$
$
$
21
Road nod equipment, .............. 1 4,19 5,2 A5 212,59 4,711 211,830.731
a 1 1,4>>6
8 iO,v*J
981 1\ 6
B
U a»«d wt«»oK» owned ......
4 15.8 1»
2?4 92 2
2 1 53
Bait Iniiu
4o. . . . . ...
1,109.4 6
95 -.! h 2
Due from 0*»4Min i viduais-tfcc.
1,234 8 >5
3 >3 <53
:i r.,795
3 »7 f»»6
D ue frtuo U. i Goruram ent. •
1.8 16,51 l
M itortuD «*ud furl
.............. 2,2*45 9 »2
l , « l 1,2 S3
3,457.000
11,00 0
Biio *s of cotup mv on h %
nd ..
3,198.003
4.770
8to
of company on hand ...
i 700
4.700
1,089.0 0
1,08 1,0-»0
1,083,000
Mil. A Northern oo -d s unsold.
3 5 421
3o0,00 1
Renewal fund ...........
1.36 . 51
fill >,'i81
909.4 2
1.087,0 *3
6ln*in^ f u n d s ...............
..
5,593,619
Ca-h . . . . . . . . . . .......................
fhO'T-T 43
1,973.468
1 0 .0 1 0
Xmsurauc^e f u n d ......................
>0,000
Xo,u>-0

m

k

Total a s s e ts ......... ...........

IsiubitiH rs—

13,520,1 ‘ 3 221,070,721

227,402,351

E xpcisf*

—
M linieaituceof wny
M »Uv*e p ow er......
MiLtuten ee of cars..
Traiispmuatiou.......
G en eral,..................

[V ol. LXVII
1897-9S.
$
1,66-'.9 87
2, 0L6S2
870.31 l
4J>29,3 )3
23 >.529

1896-97,
$
1.5 l 2.164
2,036 8 K)
68 lv3ii)
3.1 14,318
231.605

$

1894-95.

J89V06.
1,701.0)5
2,40 *, i4 l
vd 1,645
8,871.2 Mi
23 .5 17

1.4 4,216
2, t l 7,580
832.527
3 h <i,7 12
239.93 5

T o t a l.................
9, U) 1.7 9
Net earnings......... . 3,913,083
3.547,631
P. c. op. exp.to earn.
70-45
69*22
* Three ciphers (000) omitted.
rNCOME ACCOUNT.
1897 8.
1896-7.

9,212. 04
3,5 ot.5 19
72-17

8, t <1.030
3,038,863
74 59

N et earnings...........
l a v ’ inT Ott.rent/ls.&e.

3,901,0 ^3
*202.465

3.517.631
1 9 .3 4 7

3,564. 39
2 U .4 L 7

3,033,809
*33 <,537

T otal..................

-1,-95,143

3,712,9 78

3,777,956

3.2 78,3 >6

7 : ‘7 d ,lS 7

Dcd'ict—

189.-6,

1801-5.

i

Tuxes ............ ........
T r‘lt& n’dge rentals.
MisceUaneous.........

499,183
52 1.970
5 H .8 78
507,793
4fi 027,261
8to k. comuiou........................ 46^26.610
46.026.609
527,754
4l7.leW
42 3.9 L
•136. L67
1.318 -100
26.895 900
Stock, preferred............ ..........
2 » 0 4,900
71,465
72.9)8
61,019
38,8 >1
0
2
F ati-l-rtd .n t(« eSurp i-E M E sn l J6.53«.0i»>i 137.7 :‘ .o 0 139,16 i.O 1
660 725
Sinking f u n d ...... ..................
58 .786
590 7^5
Total..................
1,099,107
1,020,097
1,009.6 LO
937,761
256.» 9 4
253. lou
Rolling Ktoc* fund........ ..........
431.5 12
3 3 7 , 1 >4 Applicable to Int ... 3.096,011 2,722,881 2.768,316 2,295,635
Renewal! m o d .........................
1.698.5o5
602.676
2.-14,037 Interest ou bonds. - 2,^4 \ 3 5 ) 2,694,545
Pav-rolls,vouchers «ss iuleo. uat. 3,255.8 l
2,14 8,573
2,7- 1,545
2,833,542
149.210
3,603,585 Rent of leased Hues.
i,377,>S1
3 ,4 7 ., >41
Interest accrued not d u e ......
10 n l3
Miscellaneous ........ ........ ......
S 1.203
10
6,509,720
7,662.863
9,80 i.t>9 )
Income account.......................
Div. on pref. deben..
...........
.... ...
3),000
. . . ...
Total H aM lltlei.................. 333,540,1 J5 228,979,721 227,102, 51
Result................ sur*. 401,496 sur. 28,336 sur. 31,800 dot. 512,907
BALANCE SHEET JUNE 30.

\

‘,U 4

Balance......... ..sor. 401,4 >6 sur. 28,336 sor. 66.800 def. 54 ,907

—V. 66, p, 520,

Cleveland Cincinnati Chicago & St. Louis Railway.
1898.
1897.
1896.
1895.
( Report f i r Vie year endin'] June 30, IS98 )
4
;ft
$
^
^
R o*d ?eqtiipuTt,fee., 133,433,500 133,433.500 133,43 L 500 133.t33.S00
|Tbe repoit of the President, Mr. M. E. Ingalls, is pab- an pplte* 3c materials .*93,ii7 *8 1 1 5 7 5 8 954 3 11.037
islied on pages 583 to 580, together with the balance sheets Ca*h on hand . . . . . 4 0 0 0 * 474,571 45 L67 > 06 a 340
of June 30, 807 and 1'98, the income account, detailed Stocks a d bonds .. 78 4.63 5 <9 *.907 30 4. *22 1,20 4 922
Purch’g C iiumt tee.
(31.572
20 *.^26
18 630
31 363
statements of earnings and expenses, e c., etc.
Accounts oolleotihle
The statistics for four years complied in the usual form W iba«h ri-’g a u ’z a 'n 1097.L76 616.473 531.032 571.'81
.
.............
...... ...
1 0 090
for the C hronicle are given below :
A-dyauees fe taUceL. *^92 014 258.310 446.530
5 ’7,6< 1

f

OPERATIONS AND FISCAL RESULTS.
1897-98.
1806-97.
1,833
1,333

Miles op r, June 30.

Kq ‘ip m rni -

I/H-omotives,.. . . . . . .
PasM-nger c ars........
Freight cwr*. .........

467
3aO
13,311

Ope- attune—

459
367
12,453

459
3 8
13,105

45
367
13.473

Pssseug rs cnrrieO.
5.091.978 4.917,250
5,57S,0tl 5,243,814
Pas>. earrs < 1 mil -.200,903.657 186.657,170 204 910 893 184,l3-,i,73
1
Bate pt-rpa«s.p n n . 1 0 1 -e t s .
l-D U i- t -.
1 969 ot«.
2 U55 ole
Prvlelit, tons, car’-l. 9.630.150
8.221,3 47 8. >93.834 8,635 0 ’3
F rV tiM «n «.o ir.L m . *1 ,6 9 ‘.221 ‘ 1.341.484 * L. 143.155 *1,3 9. >81
Bate p>-r ton per m. 0 5i5 ota.
0 614 ots.
0-631 ots.
0 6 5 l«is .
£
$
#
$
Passenger................ 3,850,126
3,66.6.193
4,035.316 3.7-5,410
F reight....................
9,237,501
8.254.673
8, >76.700 S,783,n'9
M all a tut express...
930.657
911,410
817,932
816,317

ta m in g * —

T o t a l...........
E r p r v h t

*—

14,018,290

Maintm iauoenf » a y
M aln l’oe of eq-ilp ..
Oonda t transp -rt.
Trallle expenses---General expenses...

1,907,918
2 ,U I,n 9 >
5,124.703
40 .97 4
2 8.181

C ir service..............
T a x e s................. .. .

H-4.751
598 118

In s u ra n c e ..................

1

,4 0 2

Total.................. 10 968, 67
K etearn lngs...........
3,049923
P o - o l o p ex.toe’gs.
73-24

12,832,515

1,789,157
1.7 8.688
5,073.076
473.404
268,>79

1.690,6*8
1.78-.477
5,l82,4o6
418,919
273, 45

337.900
579,666

312.189
5-2.109

309.23 1
539,274

IS 833

5 i , hii1

41.5/3

9,861.665 10.293.703 10 235,06S
2,°67,850
3,166,305
3,130,5*8
76*87
76-47
76-61

Reeeiplt—

Total net...........

13,384,6>«

1,705,607
1.562,620
4,897.051
<63. 74
26 >.203

• Three ciphers (000) omitted.
INCOME ACCOUNT.
1897-98.
1896-97.
S
8
Net earnings...........
3,019.923
2,967,8-50
Bent, etc.................
336,992
284,596

Di*bur»ement»—

13,460,003

1895-96.
$
3,166,305
252,319

1894-95.
$
3 ,1’ ",588
263 714

3,386,915

3,252,448

3,418,621

3,394,332

2,708.691
196,333
375,000
3% p. c.
...........

2,687,049
196,877
375.000
34i p. c
40,214

2,630.863
2 0 ,617
500,(JOO
5 p. o.
...........

2,6 42,459
202,547
500,000
5 p. c.
...........

In terest..................
R entals....................
1)1 v. on prof stock..
Bate of divid en d ....
Miscellaneous.........

T o t a l................ 3,280,024
B alan ce...................sur.106,891
— V. 67, p. 424.

3.299,140
def.46,894

3,344,510
stxr.74,111

3,344,706
8ur.49,026

Wabash Railroad.
( Report fo r the year ending June SO, 1S9S.J
The pamphlet report for the year ending June 30, 1893, has
jrwt been issued, Tne remarks of Mr O. D. Ashley, the
President, are given at length in this week’s issue of the
C
on pages 533 to 540, Statistics compiled in the
usnul form for the Chronicle are as follows :
h r o n ic l e

O P E R A T IO N S A N D E l S C S I. R E S U L T S .
189703.
1896-97.
1895-06.
R oad opor. June 30.
2,061
1,936
1,936

Erjuiprnrnt^—

I/)i*.»»m d ive *.. . . ......
FuMnnger eqiiipm’t.
Freight equipment..

412
315
12,361

*—

40i
323
12,417

400
326
12,421

1891-05,
1,935

414
S it
12.970

Puffin, curried. No, 30,359.107 n vt0O3 860 158,90 <.979 139,472,*29
Pa--.
mil.- ..1 3,517.882 3.111,170 3.512.012 3,411,771
Rate p. 1 ji. mile i'957 eta. 2 <1*47 eta. 2<M8 eta. 2 140 o»a
FFght (toQ*> earr’d. 0.38 J.8U 5,9 .1.760 0,100.710 5.811,557
FrVhtlten perm , 624 els. OuOl eta. 0*600
Kate per tooHiwr.lm. *1,365,*93 *T.l U1JH > H eta, 0*721 C h.
Knramg»—
0
$
ft
O p e- a tio n

0

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

9,52-*,7 46
8, 21.733

2,837 174
7,001.770

3,239.077
8,4-O. >52

Deb prodt anl loss. 517,190 94 ).070 983 6 16 1,0 7.399
T otal................ 13 ,49 >,73 4137,109,9 23 136,918,9 L2 13 v.393,9 41
LiaftUilicx—
1

1895-96.
189195.
1,838
1,852

2.992. 36
7.912,816

Mail, express,
1,154.3*3 1.041,944 1 .8 ,611 1,031.386
Total................. 13,207.862 11,526,788 12,807,113 41,959,819

Common stook....... 28.00 1,009
Preferred stock. ... *24 1 ‘0.000
Bond*...... ............... 81.531.010

28,^90,190 23.001.001
2 ( .00 >,000 24,001.0 0
8 1 ,-3 1 .0 ’0 81.534.<>0 l

28 000 050
21,00 I <>00
82 431.0 0

Int. iry and pay'le 7> .146 704.797 76 -.131 9(3.2 0
Sun die aee’tsaccr’d. 2.01 ft. Ml? 1,47 4,135 1,8 7 73 1,89‘,811
T axes..................... 339.64i0. 3)5.07 324.819 4 312.649
10
Fin pital account...
3
2 9*12
3.33
3.3
Notes p ij a b le t........

845.302

977,82 5

4 9,3 17

782 7 9

Total.................. 137,499, 3 4 137 109.92j 13 ,918,942 138,-'9),9i4

Mu-dudes $179,934 carried In suspense acoonnt tor new equipment,
ftuolu aes equip ueur, uotGf,— 7. 7, p 316.

Norfolk <te Western Railway.
{Report for the yenr ending Jane SO, 1898.)
The r^pirt. of President Henry Fiak, co^enn^ the opera­
tions of the cimpaa > fo^ the first fall year of ins o rp ira te
exis1ence, to Jane 30, 1898, will be foand in fall on pa?es
o ;6 to 538 of to-day's Chronicle, together with the income
account for the same period
th e b a la n c e aheata o f J a a e
30, 1>97 and 1898.
EXPENSES, ETC.

1897-98.
Miles operated June 30..................

1896-97.

(F ull year.)

1,561

1,5 00

E q u ip m e n t —

Locomotives............ ......... .............. .
Pa-aenger oars...... —
..................
Freight c a r ........................................
Maintenance of w ay and equlpment.
Tuga and barges................................O p e r a tio

*«—

Passengers carried ........... .............
Passenger* carried one m ile..............
Rare per passenger per m ile..............
Tons of freight carried....... ...........
Ton-* of freight carried one m ile........
Rate per ton per m ile.................. .

E-irninffs--

P usaeu gore...............................
Freight................................................
M ail............................................ ........
Express.. .............. .................... .—
Miscellaneous. — ..............................

4’ 6
239
17/-8 {
437
12

413
242
16,048
293
11

1,634.851
66.7 7.45 4
2-197 ote.
8,276,948

l.^ lO ^ ii
60.665.265
2 318 ota.
0.967,e72

1,949.450,437
0 4460 cts.

2.101,312,744
0 4044 ets.

1,467,532
U,306,899
199,3->1
147,990
111,335

Total........................................ ..
—
Maintenance of way, <&o....................
Maintenance of equipm ent..............
Conduct Ing traueportation................
G en eral-...............................................
Taxes......................................... .

11,36 ,1 23

T otal..............................................
Net earnings............ ................. .
Per cent of operating ex pa. to earns.

7,886,099
3,350,02-1
70-18
HINT.
1897-93.
$3,350.02
$3,350,02 4
32,963

1,406, 223
8 695,633
187,785
147 840
103,192

Expenses

Net earnings....................... ................
Uther In co m e...... .........................
Total........ ......................................

10,537,723
1,619.964
1.681,119
3,945,148

1,542978
1.727,899
3.074.472
301 966 )
338.784 5

656,890
7,903,451
2,634,272
75-00
1=93 97.

f9

mos. only.)

$2,101,124
16,182

$3,382,9 37
183,33 2,937

$2,120,308

D e d n rt—

Interest on funded debt............ ..
I ntere*»t on car tr u s t s ............... ...
Dividends ......................................
Miscellaneous..................... — . . ..

Total...........................................

$2,211,075?
23,358
454,198
4,605

\

$1,615,116
15,311

2,698,236
1,660 457
681,751
459, >49
Surplus.......... ........ ....................
Since reorganization, the dividends paid have been throe (Xov. 15,
1897, and Feb. 15, 189**, 1 p e each, and August;, 1 - 9 L 2 p. o >on ad
JiiHtinent preferred shares, l k c in all. a nmi ting t-1 $903,9 ( i, leav­
ing balance fo pr l it and loss after dcduoLlng .Vug., '98 dig., $889,362.
— V*. 67, p. 272, 275.

\

New York Central & Hudson River Railroad.
(Rep i t fo r the year ending Jane SO, 1898. J
Fall extracts from the aaauil reportof ctn Directors, with
m u ? v i a ib'e t »bles of statistics, will be published la next
week’s Chroxicle.
The traffic, earnings, income, etc., are shown in the follow­
ing tables:
OPERATIONS.

Miles oper. Jane 30.
Locom otives...........
Paase.isr*-r eq ip’c...

1896-97.
2,305

1897-98.
1897-!
2,395
1,127
1,433

Equip/nent -

527

T H E C H R O N IC L E

S eptember 10 1808.1

Frt-iulit '& «>tuer<*arH. 40,403
li3
F l o a t i n e q u ip m e n t.
QP’rations—
Passengers carried. 21.074.2 5 4

1895-96.
2,395

1894-95.
2,392

1,417
33,0 28
141

1,174
1.4 <3
38,182
141

1J 2 2

4,127
1,43
38,909
142

l

23.166 483 23.9 '6 4"1 2 4 809,465
Passenger mileage.. 7i2.115.222 689.76 .6^4 724.2 27.685 686,5-9.144
1*90 Cts.
9 cts.
1*89 cts.
l 86 ct^.
Rate per pa-s p m.
2
FrMit ton*) moved* 23,403.4:19 ‘ 0,6 »9.810 22.123,617 19.741. 495
387 i-5 <2962 3S292060.9
F r’ht (t* ns» miTge*.. 450 *269846 379i>311495 :
0*67 cts.
0*73 cts.
U*68 cts.
A v . rate p. ton p. m . 0*61 cts.

V

* Exclusive of comp toy’s freight.

LANDS EAST OF MISSOURI R IVER .

“It is hoped that the interest of the co npauy iu the Undsof the o il Northern Pacifi3 RR Co. east of tae Missouri
R'.vft, now held by the s^quescratioa receiver* of tie oil
company, mav be real'zed before the ead of the caleadar
year, for npen Aug. 25. 1893, the Special Mister reoirtei
against the cla'm of the preferred sto-jk'oil iers of tue old
comoany to snen Ian le in preference to creditors. T ris com*
pany asserts against these lands about 9 ) psr cent of the in­
debtedness represented by such creditors.”—V. 67, p. 477.
Central of Georgia Railway.
{Report fo r the year ending Jane 30, 1898 J
The earnings, expenses and charges for 1897-8 and 1896-7
compare asINCOME ACCOUNT FOR YEAR ENDED JU N E 30.
follow :
1897-98.
Gross earnings...... *....................................... $5,507,070
Operating expenses........................................ $3,133,777
176,132
T a x e s.............................................. ................

1896 97.
$5,280 696
$J,'-7l 594
18 >,968

$3,609 909
$3,451,562
N et earnings ................................................. $1,*97,1-1
$1, 28.13 4
5 7,021
income fro n investments, incl. steamships.
28 < *07
,
43,5)0
Rental of Lvons Branch ...............................
43.500
$1,6 45,39 8
9,754
/.
156, 81
31.712
Total net incom e...................................... $2,007,436
$2,157,941
112.953
—
/.
193.906 Interest on fixed interest b o n d s.................. $1,536 800
$1,52\944
/.
20,881 A nuity City of Macon ...............................
5 000
3,<:<3
392,492
Rentals and M iscellaneous............................
310.000
12,159,836
$1,934,292
$1,841,277
$177,634 .Surplus carried to credit profit and loss......
$73, L44
$315,964
/.
55 1.719
1,519.
N ote .—'The interest on the flr»t preference Inoorae bonds payable
I.
17,414 Oct. l.n a n i Iv *4 i»*r c nr. or $90,000. iu 1897, ami 2 per cent, or
$so,000. in ' 893, n«fc Inelu led above, was charged to profit atari loss
J.$1.911,U'3 acooinr. The credit. balance of that account • arried rorw.tr i on Juue
$218,733 30, *898. was *>87.788. fro n wliiou a in t m t the income dividend de­
clared this week w iii lie paid.— E d .— V. 65, p. 924.

SUMUVKY UP FINANCIAL OPERATIONS AFFECTING INCOME.

E arnim /8 from operation —

1396-7.
1897-3.
freight traffic ............. $27,496,130 $25,8.50. 31
1 ,0 -4.6*20
passi iijrnr traffic.......... 13,250.8')L
1,254 007
t xpress train .■ . . . . . . . . . .
*
1,2-5,77 4
1,5 9.326
transportation of mails . 1,652.779
1,98 4.'9<>
1,791,384
rent I s ..........................
8 ,274
103,961
miscellaneous sources..

ii

i

1 !
21

From
From
From
From
From
From

T o t a l...............................
—
F or main en. or wav A struct . $4.8 f 0.633
4 987,192
For m aioleu’oe of equipment.
For traffic exp uses .............. 18,73 5,462
F or general expenses............ .. 1,12 7,727

Erprn*&x o f o p tra!ion

$13,611,101
$4,338. ’67
4,435,473
17,215,869
1.110,282

T o tal........ - ........................ $29,511,014 $2 7,599.9 LI
N etearuin gs from operation.. $16,263,226 $16,014,493
To which ad i :
Dividenu on Lake Shore
Mich South Hiock owued . $1,311,605
Div. on M idi. Ceil. st*k owned
248,3 <8
I)ivs. and int. ou oih. securV s
533,003
512,186
Interest on loans, notes and
sundry • ills
............. .......
I 1.7<X)
90.027
f rohta iroin sund y accounts.
107,79 >
63,5 22

&,

Gross income.................... $18,514,698

Deduct:

Interest on funded debt......... $5.4*21 200
Rentals of leased Hues...........
5.972,422
T & x e s o n r e a l e s ta t e ................
1,88 L '4 0
T a x o n c a p itd s««»c k ............
136.788
T ax on groj-s earnings............
87,671
I n t e n s io n mans, u.tea and
58,905
bills pa) able........................

$ . 6,689,223

Inc. or Dec
I.
I.
I.
i.%
D.
I.

7k

I.

I $1,311,60 >
I. 24 8. <68
I.
26,8 1
7
4 s,3 27
44,273
/.$!,83 4,470

$4 019.760 J. $1,4 01.440
47.686
5,9*4,736 /.
2,048.23 5
164 99 5
141,000
4,212
87,900
229
106,7? 0

D.
J).
D.
D.

4",825

$13,560,227 $12,328,361 J . f l 231.865
N et income...................... $4,9o4,471
*4,351.,867
$00L6o4
From this net income for the year 1897*98.......................... $4,954,471
'1 here should he further dedu ted:
Reserve for redemption of 4% gold debentures of 1890 .. .
$300,000

1.

Balaoce available for dividend............................................. $4,65 4,471
Cash dividends, four, of one per cent each...........................
4,OJU,oOO
Surplus for the r ear (transferred to profit and loss). .
$ 6 5 1.47L
Amount to the credit of protit and loss June SO, 1897........ 11.465,ou0
T o tal....... ............................................... .......................$12,119,471
From which deduct:
Payments incident to refund, the bonded debt..$2,344.993
PaTiueiits incident to issuing L ik e Shore &
Mu lligan Central collateral bonds .................
57,050
Certain uncollectible and dep eclated aceouuts
written off..........................................................
293,250
---------------- 2,695,298
Balance to th* credit of profit and loss June 30,1893........ $9,424,173
—y . 67, p. 321.

Northern Pacific Railway.
('Report fo r year ending Jane 30, 1898.J
The results for the late fiscal year were in the C
last week, as also the statement from the report regarding
the reserve fnn 1 for dividends on the preferred stock. The
pamphlet report is now at hand and will be published in fall
in the C
next week. In the meantime the follow­
ing comments of President Mellen regarding the business
of the year are timely:
h r o n ic l e

h r o n ic l e

BUSINESS OF PAST YEAR AND PROSPECTS.

“ In many particulars the year ending Jane 30, 1898, has
been exceptional. While there have been others in which
the gross receipts have been larger, there has been none in
which the results have been so satisfactory, both as to the
condition of the property aDd the net revenues therefrom.
“The favorable winter of 1^97-98 and consequent freedom
from accident and blockade has helped materially to pro
duce this result, but more than all els ‘ the economies accom­
plished by grade reductions, by substitution of permanent
for temporary structures in the roadway, and by the employ­
ment of modern power in place of that previously available.
“ The very sa'isfactory result of the yeai’s w irk may be
attributed largely to the m irked increase iQ train-load and
car loaJ, and to tae consequent decrease in cost per ton mile.
LANDS WEST OF THE MISSOURI RIVER.

Deduct

“In the territory tributary to the lines of the company
prosperity has been evidenced by the increased sales of lands,
the company having disposed of a greater acreage (nearly oO
per cent more) and to a number of individuals great-r than
in auy previous ye«r in the history of the property. The
prospects for the coming year are equally promising.

Colorado Fuel & Iron Co.
("Report for the year ending J me SO, 189S.J
President •/. C. Osgood says in substance :
General Resui’s.—The net earnings for the year ending
Juae 3‘h 1S98, decreased $115,720 from the preo ding year.
The fuel depart nent slit)ws an increase of $348,335; the iron
department a decrease of >33!,9 )4. lathe fuel depircmmfc
the production of coal increased 573 635 tons and of coke
60.602 tous. lathe iron department earnings for last year
was tncladedan aamnntof $>8 ),000 due fro a the Rail Mixers’
Association. For reas ms hereafter stated, t tis $180.00 1 h as
been charged to profit and loss. For the purpose of compari­
son. therefore, the am mnt due from the Rail Association
should be deducted from last year’s earnings or added to this
yeat’a earnings, on which basts the n-t, ear. ingfl for the cur­
rent year would show an increase of $64,280. The total net
eirniaus provided for all fixed charges, sinking funds, etc.,
leaviog a balance of $96,803.
I r n Dep irtment. Tne rail mill has been idle sines the fall
of 1-96. mclndi ig the entire current year. In Docemhsr,
1836, the comp.ny entered into a contract with ths Rail
Makers’ Association, comprised of all ths principal niaunti:turera of steel rails ia the United States, un ler the terms of
which tne company was to receive $360,000 daring the year
1897. In February, 1897, the officers of the Association
claimed that it was dissolved, but believing ia the legal lia­
bility of the individual members of the Association, this
Company continued to carryout its obligati ms tnroughont
the year 897. All bat two of the members, bo wever, refused
to recognize their liability or make any settlement. As the
result of a lawsuit may be deferred for several years, the
$180,000 earned under this contract in the fiscal year ending
June 30th, 1897, has been charged to profit an l loss.
The great reduction in the price of steel rails, following the
dissolution of the Rad Makers’ Association, made it necessary
that the comp any should make extensive improvem >ats in
its bl xnning and rail mill. Tne new mills are only now fairly
in operation, though some rails were made dmiag May and
June. The blast furnaces were started up in January, 1898,
but their operation did not affect the earnings of the ermpany, as the pig iron was accumulated for the starting up of
the rail mill. The Merchant mill has been operated through­
out the year, and the sales have increased 70 per cent over
last year. The profits of all the operations o the iron de­
partment have been more than absorbed by the fixed ex­
penses and tbe heavy cost of starting up the new mills, re­
sulting in a net loss on the year's operations of $ 0,3 >8.
C o llateral Trust Loan.—In ord ‘r to make the improvements
at the steel works, a loan of $4oO 000 was negotiated on col­
lateral, inelu ling $18n,000 Grand River Coil & Coke Co.
bonds, $165,060 Colorado Fuel & Iron Co. general mortgage
bonds and $55 (4)0 C olorado Supply Co. stock. The loan
dates from Sept. 1st, 1897, and matures Sept. 1st, 18 <9, inter­
est 6 per cent pt-r annum. With the improved barsiuess and
financial outlook au i expected earnings from the steol works
improvements, it is believed that the bonds and s ook caa be
sold at prices which will payoff the loan at maturity. The
loan is margined by a mortgage oo previously unencumbered
coal lands and a small amount of minor securities.
U v to raio Coal dS Iro n Development Oo.—Tue litigation
growing out of tbe guaranty by the Colorado Coal & Iron
C n of $700,000 C olorado Coal & Iron D veiopment Co. bonds
has finally been amicably s-ittlei, and this company will re­
ceive as security for its guaranty and the moneys airealy

T H E C H R O N IC LE .

528

advanced by it, all the remaining property of the Colorado
Coal & Iron Development Co., which, while not now avail­
able, it is hoped will eventnally be saleable at prices which
will reimburse us. 1he amount already advanced is $176,137,
and under the terms of the settlement there is an additional
amount of $30,( 00 to be paid, an 1 the taxes and interest on
bonds will result in a fixed charge of $75,090 per annum until
the property can be disposed of.
Financial Gondii i :>n.—-The large increase in cash liabilities
is accounted for by the starting up of the steel works and the
accumulation of raw materials and manufactured stocks
(principally pig iron) and customers' accounts. The increase
of these accounts over June 30, 1S97, amounts to $-146,461,
and, owing to delays in starting the new plant, the amounts
are larger than is ordinarily necessary and will be materially
reduced in the near future. The company purchased during
the year §133,00.1 of bonds for the various sinking fnnds on
underlying bauds which will release an eijual amount of its
general mortgage bonds, a portion of which has been u ed
in the collateral trust loan already mentioned. The increase
in bills payable is largely due to loans on pig iron warrants,
which v ill be paid us the pig iron is sold or used in making
steel rails.
Preferred Stock Dividends.—That the undivided earnings
are not available for the payment of preferred stock divi­
dends is not due to their diversion to steel works and other
improvements, but because they have been applied to prior
obligations, including the obligations arising under the
guaranty of the Colorado Coal & Iron Development Co.
bonds already referred to, and the purchase of bonds for
sinking funds. The improvements and additions to the
property have been made from the sale of general mortgage
bonds, collateral trust loan and depreciation sinking fnnds.
If the expectations with regard to the profits to be derived
from the new steel plant are realized, the shortage in earning
preferred stock dividends should soon bs made good. The
company has contracts for rail which will keep the plant in
full operation till Nov. 1, and the outlook for new business
is very favorable.
Earnings, Etc.—The results for the year compared with
those of last year were as follows:

[v o l . LX'vn.

BALANCE SHEET APRIL 30, 1898.
—
8 took.
B onds.... ............
Accounts receivable
73,5 5 Sundry creditors
11,443 Proitt and loss___
Cash........................ ...

Assets—

Plant, ete.....................$8,751,954
Materials....................... 40,158

—V.Total........................$8,883,060
67, p. 28.

L ia bilities

Total,

.$5,000,000
. 3,750.000
34,173
98,887
$3,883,080

GENERAL INVESTM ENT NEW S.

Reorganizations, Etc.—Latest Data as to Defaults, Reor­
ganization Plans, Payment of Overdue Coupons, Etc,—All
facts of this nature appearing since the publication of the last
issues of the I nvestors ’ and the S treet R ailw ay S opplk mmints may be readily found by means of the following index.
This index does not include matter in to-day’s C hronicle ,
Full-face figures indicate Volume 07.

R ailroads & Mis. Co.’s.
R a il k o a d s a n d M w l G o ’s — ( C o n . )
Volum es 66 and 67—
Page.
V o l u m e s 6(3 a n d 6 7 —
Page.
A ppleton (W is.) B 'iafer.'N JW /W l, 1 4 6 N ash v ille T elh co & C h a rle sto n .
ii o
<io ttim d iW d f r s ' c o m . 4 8 i.
S 'D cexs >r C rJ.374
A sto ria & C olum bia R iver.conN ew ark <N, YD W a te r W orks,,safr.2 ? 5
t r a c t o r 's s u it................................... 4 2 6
New <w leaus & W e s t. . r c c 'v r x . c e r t .3 2 0
B alt. & Obio.cowpo>fS.S56,86H, 1013, -£ 7 N . Y . P h ila . A INo r to 1k. J cp osifs t i l l
do
do
p l a n . 12.15
A u g . 5 ,2 7 5
do
do
r e o r o . ma* U r n . 10*8,
O hio R iv er & C h a rle sto n .........soW .2 7 5
1235, 2 7 , 2 * 1 , 3 6 9
do do n o t ic e t o b .n d lio id t r s .‘i ' 2 *<
do
do
/d an 0jjcrrtHiv.*£7
O hio S o u th e rn .d e p o s its r i l l A tw .1 0 .2 2 3
do
do s u i t o f p r t f . s h a r e ­
do do
sa le p o s tp o n e d .’ 7 *
2
h o ld e rs file d . 2 7 'f
P e o ria D ee, A E v an sv i 11e ../ore-c/o.n. 2 7 >3
do
do
. . . . y e a r 's e a riiv n / ts fit 1 S j R iclim o nd N ich, Irv . & B e a ttv sdo
do B a l t . B e lt ho m ix d e p .H 1S
v llle............................ .s a le S e n t. 0 .2 2 3
do
do second, in it ia l. o f a s s c s s .4 * G St. Louis Avoyelles A Southwest
sa le o f p r t f. s o c k
4*«>
e rn
....................................... >«/<■ '.435
do t i m e f n r d e p o s its l i m i t s d . 4 N 1 S ta te n Isl. R ap. T ra n sit .o n e r 92 p e r
B a th (M e.) G a s & ’E l e c . a s s if / n m m t . 4 S I
a n t . o f "ids dcpo.N.4 S 4
B oar V alley Irrig a tio n Co. ( R eddo do p e n a lt y a f t e r S e p t. v.4M 4
do do
re o rg . n o t t c e & W i
lauds, CaL) ..................ntory.3 6 9 4 S 1
C entral B r., 0 . P ....so W . 953, 1043;
T aco m a L au d Co. — ........r e c v r . £ 7 t >
p la n , 1130, * ‘
2 UDion P ac, L in . & Col .s o ld t o U . P . 1 3 5
C entral O h io
.............s a it file d . 4 2 7 U nion P a c . D eo. A G -ultrum ors
C ent. P a e .., G o v t, fo r e c lo s u r e s u it..# I N
r e g a r d in g v l a n . 4 3 5
C en tral Staifijtfg C o.aasiw m w it— 3 6 9 | West Troy W ater............. .rfcur.27'6
C en tral V e rm o n t in t. p a y t n m t . 2 7 3 W heel. & L . JL .. .c Z a n .lirJ ; f o r eel. i 2 8
C ent, W ash ington.r<W 0 850; p la n . 953
.
d o 2d i n s t . o f assess. ] 23P, 1 7 9 . 3 2 4
Chic. F t. M adison & D es M o in es...
do
s to c k d e p o s ite d .'£ "7 6
r c n r .2 2 2
c o u p o n p a v m e n ts . 4 8 8
C incin. & M usk. V al.. s u c c e s s o r c o . 'Z '£ * W ise. C ent. C c j.re d s h p . p r o d s u n d e r
C itizens’ E lec tric 0. & P . Co. o f K o­
RFC. j n o r t . o f 1 8 7 9 .2 7 6
kom o. Ind _____ r e c r . a p p lie d / o r . 3 7 0
do do O b je c t io n t o f o r e c lo .
C ol.H ock,V . & T o l . f a r t h e r a d v a n c e
—deposits c a lle d tor.2 7 6
a j 2 p . c . •o r i n t o 1 caH.sof.5s S e i > t . l A S *
1
GROSS AKIJ NET'EARNINGS.
S t r e e t R a il w a y s .
Col. San.& Hoek.rtforo p la n s . 1 7 6 , 2 2 2
a--------—Gross ----------- ,
--------- — N e t ----------- . D allas (T ex.) E lec.ri-cr.appltad/or.3 7 .0
V o l> a n e s 6 6 a n d 6 7 —
Page.
1807-98.
1896-97.
1897 98. 1896-97. D enver L eudv. & G unulscm . . f a r e d , i 1 9 1 B ro o k ly n E l.result o f B r id g e c o n ­
E a s t 1U. C oal.. .p n v m ’ t o f c o u p o n s . 4 > 2
$
$
n e c t io n . cf.i7.426
$
$
832,761 604,436 H u d so n T u n n el R y — f u r e c h s u r e . '£ 2 '£ B uffalo K enm ore & T o n a w anda.
Fuel departm ent................. 3,931,865 3,271,740
do
................ r
_. .s o ld . 4 2 7
Iron departm ent.................1,289,886 1,539,927 Dr. lo,308 322.597 Jamdosto w n A L. E rie ,./, r e c l o e o rroe. 2I f7* 4 ! E le c tric ...............
e
su
.
1 F u lto n W a ll A C ort. S t. F er. R R .,
7,752
6,864 J a s p e r T ow n & L a n d s........................ 4 2 N
D enver retail departm ent.. 213,942
201,544
s o la . 4 2 S
Pueblo retail departm ent...
37,171
45,828
987
1,884 K earn ey & B lack H ills..........*222, 3 7 2
do
do n e w co . i n c o r p o r a t e d . 4 S S
Income from securities......
13,878
11.635
13,878
11,635 K lnyileld A Dead R lv e r.so ld .2 2 2 . I f 7 I 1 P e te rsb u rg E lec, R y .................. .s a le .4 3 5
M iscellaneous......................
2,373
2,694
2,373
2,694 K ingston & P e n t oro k e ........... .pton .2 7 4 j Saginaw (M id i.) Cons S t. Ry.........4 3 5
L ittlefield, C a rro llto n & W e ste rn
| U nion S t. Ry. (S aginaw , M ich ).. . 4 3 5
o r c lo s
e
c re
T otal............................... 5,489,115 5,073,368
847,444 950,110 L ittle R ock H o t fS peringsu rA d eex aes, 4 2 8 L a k e sid e R y., M uhanoy Clfcy.s#atatf*
T
p r o p o s it io n ro b o n d h o M e r s .3 7 1
Deduct general expenses.................... ...................
135,901 lv 5.090
n r ic a t e b ‘d s u n t i l O c t . 1 .3 2 0
T e rre H a u te E lec. R y. . m a j o r i t y o f
L ow ell (M ich.) W a t. A L ight
b o n d s of 1892 d e p o s i t e i ; f u r t h e r
Balance to income account.............................
f o r eel. 4 7 1
711,543 825,020
d e p o s its t.iU S e p t. 1 6 .4 8 4
INCOME ACCOUNT.
American Railway Electric-Light Co.- $500,000 New

Stock.—The stockholders will vote at the office, No. 14 Stone
Street. New York, on Oct. 4, on a proposition to increase the
capital stock from $2,500,000 to $3,000,030, all in $50 shares-.—
Deduct
.389,124 381,710 409,929 318.840 V. 66, p. 80,
. 50,338
46,530
......................
45,610
45,564
Atchison Topeka & Santa Fe Ry.—Full % Per Gent Inter­
127,667 100,781 100,039
Sinking funds, eto______
92,040
. 47,611
15,672
Interest end exch an g e..
4,330
57,132 est Declared on Adjustment Bonds.—On Wednesday the di­
Dividends.......................
.............
89,000 160,000 ........... rectors declared the full 4 per cent annual interest on the
T otal........................................ 614,740 621,693 719,938 513,576 adjustment, bonds for the fiscal year just ended, to be paid
Nov. 1.—V. 67, p. 42G.
Surplus.......................................... 96,803 200,327
74,315. 164,874
Augusta Southern RR.—South Carolina & (la. Ry.—
GENERAL I.EDGE]: BALANCE JUNE 30.
Receivers for Augusta Southern.—Pending a decision in*the
1897.
1898.
1896,
Assets—
$
•6
■
suit brought to annul the lease of the Augusta Southern to
$
Real estate............ ..................... .13,203,980 13,248,998 13,105,394
the South Carolina & Georgia. James U. Jackson, the Presi­
137,624
Mine development....................... .
120,259
dent of the Augusta S rntheru, aud J. H. Sands, the General
Royalties, In advance..................
42,332
44,551
Equipment, all departments...... . 5,382.110
4,814,123
4,254,341 Manager of the S. C. & G., have been made co receivers of
C uab................................... .
97,1.31
104,515
281,041 the Augusta Southern.—V. 67, p. 318.
453,851
Customers' accounts.................... .
173,324
220,659
Individuals and companies (net).
414.847
Bass Foundry & Machine Co.—Mortgage for $1,300,000
477,002
496,001
BUI* receivable....................... ..... .
261,785
277,888
253,017 Filed.—The ■*Savauuah N ew s” says:—“ A mortgage lias
Stocks, supplies and m aterials... . 1,000,156
650,710
925,644 been filed at Rome from the Bass Foundry & Machine Co to
8,098
Securities—stocks and bonds...... ..
720,328
527.377
449,866 the Colonial Trust Co. of New York for $1,200,000. The
Miscellaneous — ........................
30,721
25,864
29,475 company owns an enormous amount of property in Indiana,
C, C. < I, Go. bond sinking fund.
fc
575,000 Tennessee, Georgia and Alabama. It owns about 100 mineral
Total assets...... ...................... .21,744,864 20,464,974 20,601,536 lots in Floyd and Polk counties.”
JjiafriUliz *—
Boston & Lowell RR, —Bonds Sold.—The company has
Capital stock (see S
).. .13,000.000 13,000.000 13,000,000
sold to E. H. Rollins & Sons, at IOS‘337, $214,000 4 per cent
CoL Fuel ifclron Co. bonds......... .. 2,618,000
2,101,000
2.034.000
Col. Fuol Co. bonds...................... .
920,000
998,000
998.000 20 year bonds to retire the same amount of Salem & Lowell
Col. Coal & Iron Co. bonds......... . 2,850,000
2,8*8,000
3.499.000 RR, 6 per cent bonds, due Oct. 1, 1808.—V. 66, p. 80.
565,599
Bills payable................................
63,133
76,500
Boston Subway—Boston Elevated Ry .—Entire Subtvay
U npaid vouchers............... .........
251,868
103,459
126,110
13,281
U npaid freight.................... ........
4,855
1,003 in Operation.—The third aud last section of the Boston sub­
U np aid p ay cheeks.................
.
303,073
118,830
56,535 way was opened on Sept, 3 to street railway service.
Two
142.580
The Colorado Supply C o.............. .
59,150
29,476
23,496 sections—one from Pleasant Street to Park Street and the
625,694
507,027
Sinking funds............................... .
other from the Public Garden to Park Street—have been in
24,000
24,000
Fund for payment of taxes.........
24.000 operation for abont a year. The length of the subway is 1%
75
Unpaid bond int. and dividends.. .
53,146
miles, with a trackage of about 5 miles. There are three
Pref. stock div. due A u g 20, ’96.
80.000
165,118
Bond int. (accrued but not d u e)..
151,355
151.365 junctions by which the surface cars enter and leave the sub­
73,051
M iscellaneous..................... .
34,238
date, including
18,558 way. The
275,953
? 81,590
Income aooonnt (s u rp lu s )........... .
317,23 7 tate, etc,, is cost toas approximately material, work, real es­
stated
$5,78G,000. The ground
Total liabilities............... ........ 21,741,864 20,464,973 20,601,536 was first broken on March 28, 189-1.
- V . 65, p. 365.
The subway is owned by the city of Boston, and the terms
of its twenty-year lease to the West End Street Ry. (now
Kansas City, Missouri, Gas Company,
under lease to the Boston Elevated RR. Co.) were given in
CStatement for year ending April SO, 1898.)
the C h r o n i c l e of Dec, 12, 1896, page 1065. Various other
The following statement has been issued :
interesting facts regarding the enterprise, the character
Net earnings...............................................................
$302,656 of the road and the accommodation afforded by it for street
Bon d interest...............................................................
. 187,500
railway traffic will be found in the report of the West End
Surplus available for sinking fond and dividends............ .$115,156
Company in V. 65, p. 1021.—V. 67, p. 318.
N et earn in gs..................
—
Interest on bonds...........

upplem ent

1897-98. 1896-97. 1895-96. 1894-95
8
$
825,020 794,253 678,450

.71 i , 543

S eptember 10, 1898. J

THE CHRONICLE

Buffalo Kenmore & Tonawanda Electric Ry.—Buffalo &
Lockport Ry.—Purchased— The Buffalo Kenmore & Tona­
wanda Electric Ry., it is understood, was purchased at the
recent sale in the interest of the Buffalo & Lockport Ry. Co.
The latter company has equipped with overhea i trolley the
former branch of the Erie RR. from Lockport to North Ton­
awanda, 13 miles, and over the line now purchased will have
an extension from Tonawanda to the corner of Military
Road and Kenmore Avenue in Buffalo, a distance of 5%
miles. The Buffalo Kenmore & Tonawanda also before the
sale operated under lease the Elmwood Avenue & Tonawanda
Electric Ry., extending from the corner of Kenmore Avenue
and Elmwood Avenue in Buffalo to a point one third of a
mile south of the southerly limits of Tonawanda, a distance
of 2% miles. The electricity is supplied from the great power
plant at Niagara Falls. The Buffalo & Lockport Ry. Co. owns
the Lock City line, atd the franchise allows it to handle
freight through the streets of the city from 1 1 p. M ..to 5 . m.
From Buffalo to North Tonawanda, until the Kenmore
Road could be purchased and put in condition for use. the
company used the tracks of the Buffalo & Niagara Falls
Electric Ry. The “ Railway Age ” says :
a

The time occupied io making the trip over the line from Lockport to
Buffalo The service an hour and the management when a half-hour
a little
company will
service. isbetween overgiven by the ErieTonawanda wasgive inpassenger
the road one freight each aud North day. The fare front Buffalo to
Lockport way every
four charge of
trains andis kept at the old Erie rate, which was 75 cents per round
Lockport
trip. The line Lockport, withlevelexception ol a distance from North
is practically the
Tonawanda to for about 10 miles offor the entire slightstraight as an
Loekport. and used by the Erie were of the 60-pound variety, and
the distance is as grade west of
arrow. The rails
it was found necessary to re-lay only about a mile of the road. In
doing this an 80 pound rail was used.

The Buffalo & Lockport Rv. and Niagara Falls' Electric
Ry. have the same officers.—V. 67, p. 427; V, 66, p. 1088.
Canadian Pacific Ry.—Inter-State Commerce Commis­
sion.—Dec sion.—The Inter State Commerce Commission on
Sept. 2 made public its decision in the case of the Canadian
Pacific denying the propriety of the company being allowed
differential passenger rates between Eastern points and the
Pacific coast. The Commission found nothing disgraceful
in the action of the company in reducing its rates in view of
the action of the American roads, and nothing raiically
wrong in its attitude respecting the settlement of the qnestion. The position of the company, however, has changed
greatly since 1888, when a differential was first granted, and
the Commission says :
“ No it American or disadvantage. to is especially true of the
differential
unless line, at a manifest Canadian, oughtThisInsist upon aGovernment
Canadiani»
Paeiio, a Canadian institution, built largely by
aid and for
purposes. If it oornes points, should be,
to compete Governmentbetween UnitedasStatesinto the United States
contentthose for traffic dearly unjust or unreasonable. Itcompetitors
to operate upon the same terms its Amerioan it should not
unless
insisttoupon a terms are order of tilings here unless Canadian Pacilic
different
can make its
title the demandtodearentitle i to make as lowThe it on this trans­
appears, however, be beyond all (piestion. a rate
continental business as an;' Amerioan line.1'

Decision Accepted.—On Wednesday* the company issued
a circular accepting the decision of the Inter-State Commerce
Commission and agreeing hereafter to quote the same rates
as its competitors. In the circular Vice-President T. G.
Shanghnessy says:

It was not
by
the Commissioners would
express antheunderstoodhadthis company thatto submit differential,evid­
therefore opinion outlie merits of Ihe claim for a in full its and
oompany no opportunity
ence tlieir report, and they Commissioners have that with the sub­
ject inand argument, hut thegive it as their opiniondealt the Canadian
Pacific Railroad is
passenger business.not now entitled to a differential on Pacific coast
Throughout their very aide analysis of the question the Commis­
sioners seemcompeting entirely tost sight States railways whileinter­
to have with the United the faot that for
company is Beveral more important linesofin the United States this
state traffic,
are
active competitors of the Canadianhere that for Canadian traffic, and
it io in' not lie out of place to say Pacific if such au arrangement
were practical and in the public interest, the Canadian Pacific state
very well afford and would be glad to forego all claims to inter could
traffic ofon the business tributary to its lines in Canada.
description the United States competitors
inroads every this ease asif in all previous eases involvingmade no
However, inthe company accepts without question and will bo gov­
United
States traffic,
erned by will decisionthe the Commission,which provailof course,other
the be on of basis of those taking care, by any th a t
its rates
route, on the 25thcovering traffic affected by the decisionasto take
effect inand tariffsconditions, will be filed by this rates as farin accord­
inst., restoring
cable with the Inter-State Commerce ante-bellum oompany practi­
ance existing
Law.

The company reduced the first-class fare from Boston to
Seattle first from $71 75 to$10and then, on March 1 last, to $35.
New I.ine. —Passenger service over the lately-completed
portion of the Montreal & Ottawa branch between Ottawa
and Alfred, 42 miles, was begun on Sept. 5.—V. 67, p. 318.
Central Ry. of Georgia.—Interest on Incomes.—The direct­
ors on Saturday decided to pay 2 per cent interest on Oct. 1
on the first preferred income bonds. The annual report will
be found on a preceding page.—V. 65, p. 924.
Chicago Milwaukee & St. Paul Ry.—Dividend.—The divi
dend declared on the common stock this week was 2% per
cent, as against 3 per cent at this time a year ago. In April
last, however, the dividend.was 2}£ per cent, while in April,
1897, it was only 2 per cent. In other words, the dividends
paid out of tbeearning8of the two fiscal years aggregate the
same, viz.: 5 per cent. The anmial report is given on other
pages ot to-day’s Chronicle.—V 66, p. 520.
Choctaw 4 Memphis RR.—Choctaw Oklahoma & Gull
RR.—Little Rock 4 Memphis RR.—Sale of Bonds.—The
Chronicle has already reported the agreement by which the
Choctaw Oklahoma & Golf RR. Co. will obtain control of

529

the Little Rock & Memphis and extend the line to form, with
ifs own road, a system 500 miles in length, reaching from
Central Oklahoma to Memphis, Tenn. This week the sale is
confirmed of $3,200,000 bonds of the Choctaw & Memphis
RR. (the company which will succeed 'he Little Rock &
Memphis alter the foreclosure sale Oct. 25) to Edward B.
Smith & Co. of Philadelphia. These bonds will form part of
an issue of $3,4r0,000 five per cent bonds to be created at
$12,500 per mile by th 9 Choctaw & Memphis. Of the
loan $1,200,00) will be used to acquire the Little Rock &
Memphis, and the remainder, thoae now sold, will be used to
extend that road from Little Rock westerly to the western
boundary of the State, where connection will be made with
the Choctaw Oklahoma & Gulf RR., as extended, 13 miles
from its eastern terminus to the Arkansas line.
Arrangements have been made to lease the Choetaw &
Memphis to the Caoctaw Oklahoma & Gulf for a division of
the through bu3ines3 ou a mileage prorate that will guar­
antee the interest on the bond3 of the new company and div­
idends on its $1,755,000 preferred stock at the rate of 2 per
cent for the first year, 3 per cent for the second and 4 par
cent for the third year and thereafter.
After the payment of 6per cent on the preferred stock, onehalf of the net earnings of the new company will go to the
Gulf Co., the other half being available for dividends upon
the $1,750,010 common stock. The rental guaranteed under
the lease will be only $750 a mile for the first year, rising to
a maximum of $885 a mile. The Gulf Co. is now itself re­
ported to be earning at the rate of $2,214 per mile, traversing
a less desirable country, and with 137 miles of its tracks
within the bounds of Indian reservation.
The following facts regarding the new loan have been fur­
nished to the Chronicle : “The bonds are to be 5 per cent
fifty-year gold bonds, dated July 1, 1899. They are not guar­
anteed technically on account of a charter limitation, but
their interest is practically guaranteed by contract of lease,
an extract from which will be endorsed on each bond. Total
issue is limited to $3,400,000.”
The Philadelphia “ Times” says:
The 140 miles of n ew road w ill traverse w h at is said to he the
richest unoccupied railroad territory in the United States. Portions
ol it are covered with valuable tracts of pine timber, aud there are
considerable undeveloped deposits of ooal and iron ore in the hills.
The lower lands are adapted to ootton grow ing, while it is believed
that the higher table lands w ill prove to be a rich fruit-grow ing region
President Goweu already has his surveying parties in the field, and
construction work w ill be begun this month and completed before
next summer.— V. 67, p. 126.

Cincinnati & Hamilton Electric Street Ry.— Mortgage fo r
So00,000.—Tde company has made a mortgage for $500,600 to
the American Trust Co. of Cleveland, O., as trustee.
Council Bluffs Gus 4 Electric Light.—Foreclosure Suit.—
The Farmers’ Loan & Trust Company, as mortgage trustee,
has brought suit iu the United States Circuit Court, Omaha,
Neb., to foreclose the first mortgage of $250,000, the interest
of which is in default. A receiver has been or will be ap­
pointed. These measures are preparatory to the reorganiza­
tion which Hon. George F. Wright is interested in effecting.
—V. 66, p. 1139.
Detroit & Lima Northern Ry.—Receiver Appointed.—At
Toledo, O., on Sspt. 6, Judge Hammond of the United States
Court, on application of J. J. Harmon of New York, ap­
pointed .Tames B. Townsend of Lima, O., receiver for the
Detroit & Lima Northern RR. and I wing Bsi ford spacial
master to report on the condition of the road.
Committee.—In view of the receivership a committee, viz.:
IVulterG . Oakman, Chairman, President Guaranty Trust Co.; John
I. W aterbury, President Muuhattan Trust Co.; E. A. M errill, P re si­
dent Minnesota Loan A Trust Co.. Minneapolis. Minn ; Jules 8. Baohe,
of J. 8. Bache di Co., N e w Y o r k ; Philip Lehman, of Lehm an Bros,

notifies the Detroit & Lima Northern and the Lima North­
ern RR. Co. first mortgage bondholders, that it has been re­
quested by bondholders owning or representing a majority
of the bonds to act in their behalf. Bondholders will please
send their names and addresses to H. A. Murray, Secretary,
65 Cedar street, New York.
Change of Ownership.—C. N. Haskell, who has been prom­
inently identified with the road, has sold his interests and it
is thought the road will be merged in one of the larger ex­
isting companies.—V. 67, p. 428.
Eastman’s Photograpliio Materials (Limited).—Sale
Authorized.—The shareholders of the English company have
voted to sell the property and undertaking to George East­
man of Rochester, N. Y. This step is preparatory to the
merger of the English and American companies on practi­
cally the same terms as suggested last spring, except that the
English shareholders will receive stock in the new undertak­
ing instead of cash, as first proposed. The English company, it
is understood, has outstanding ordinary shares on which
£136,978 has been paid in and also £ 50,000full paid 10 per
cent preferred shares. Shares on which £10 was originally
paid in will receive £20 10s. in stock of the new company.
Galveston La Porte & Houston Ry.—To he Re-sold Oct. It. ®
—A press dispatch from Sherman, Tex., says that Federal
Judge D. E. Bryant of the Eastern District, sitting in Cham­
bers in that city, refused to confirm the sale of the road to
George C. Holt, and ordered that the property be re-sold on
the first Tuesday in October. Judge Bryant also required L.
J. Smith, who opposed the confirmation of the sale, to fur­
nish a bond in the sum of $50,000 guaranteeing a purchaser
at time of sale who would pay more than $425,000 for the La
Porte Railroad. -V . 67, p. 73.

THE CHRONICLE.

530

Illinois Steel —Minnesota Iron—Loraiu Steel —Elgin
Joliet & Eastern tit.—Fed oral .Steel.— ferns o f Q o asoln a/ton. —We nre advised by na insider believed to be correctly
informed that the following are the t 'run for the ex hange
of the stocks of the sorer il co mpauies which are to be merged
in the Federal Steel Oompanv, each shareholder receiving a
certain amount of the new preferred and being allowed to
subn’ril>e for the aiuonnt of new common stock liere shown
at the price of $13 par share :
SIO D f ' l v l - o f

SliQOMAtii

Witt receipt

n c \ a j t r r f . * t , c jc .

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

ETglu Joliet «fc Eastern.

•*50

100 00

87 5J

——-4 n rt m a y su bscript* fo r- ------■

ntttt* ro at man
$103 40
80 00
70 00

at rut<o f

$25 per share
25
“
25

u

The i jish than p*ovi led will be ns^d in pirt to purchase a
tw r thirds interest in the Lorain Steel Co. It is s'atsl t.h it
there will be left $10,010 OOJ of cash in the new crmpiny’i
trass try. A circular stating all the fasts will be issuei in a
few days.
Inc •'■ poralel.—The Federal Steel Co. was incorporated in
New Jersey yesterday with pawer to engage in mining,
manufacturing and the operating of railroa Is and to hold
interests in other corporations. The authorized capital stock
is $?00030,0 6. of wlrch one h tlf is 6 per cent nan-cumu­
0
lative preferred —V. 07. p 183.
Kansas Loan & Trust Co.—Trust Company of America.—
J?ecc'vc-x App iiite l.—0 1 Tuesday the Kmsus L ian & Trust.
Co,, lately kaowu as the Trust Company of America, was
placed in the hands of T. B Sweet and Or H. Wb'tonmb of
Topeka as receivers upon aoplication of John It. M ilvane,
John Marion and W. H. Rossingtoa. The limbi.ities are
estimated at $4( 00 0
0.
Lehigh Valley Itfl.—Earninas in. Neiv York S t a l e . —The
lines in New York State, total 507 miles, report for the quar­
ter and the 12 months ending Jane 80 as follows :
m onths i iuling

Gross
'o rn ltig s.

3
June 20.
'
I S P S ............... ....* 1 .2 ;\ -IS 9
1 8 9 7 .................... 1,209.484
]
—
ISO - S .................$5,810,571
1800-7.................. 4,009,405

m onths

.—V. 6 >, p. luttO

N et
earnings,

Interest,
Irises, etc.

$2,053,314
2,031,092

$1,039,113
1,05L,868

$286,6-55
301,470

$2'>7.S58
218,104

8356, 3606, 2611, 3111, 3360, 8401, 3592. 3701, 3998, and will beredeem 41 ny the Farmers’ Loan & Trust Co. at HO and ac­
crued interest on Oct. 1. 1898.—V. 66, p. 88.
Ogdensbnrg ,fc Luke Champlain RR.—Quarterly.—The re­
ceiver reports earnings for the quarter ending June 30:
3 mos tn d in g Grossr
pera'i ng
Kd
Other
/<tfte30— earntaon Oexpoutex, $ <3,310 income infJux ,r<Cc.
carninyu. tfl.H >5 Net fo ,
..............* 1 7 V 8 3
$111,970
$35,67
4

1807.............. 189,82 4

121,503

67,319

1.096

68.4,15

The receiver paid $9,100 tax for the 1899 and $5,400 for the
1897 quarter, but no rentals or interest.—V. 66, p. 1141.
Ohio River & Charleston Ry.—South Carolina & Geor­
gia Kit.—Possessim Taken Sept. 1.—Tue South Car ilina &
Georgia announces that it has contracted to operate the rail­
road and prop rcy formerly owned by the O. R. & C. in the
S.atesof North and South Carolina, taking possessi m Sept.
1. The roa 1 givi-s tbe South Carolina Company an extensi m
running northerly 174 miles to Marion, N. O. As already
stated, it was generally believed the recent foreclosure sale
was preparatory to this transfer.—V. 67, p. 42H, 318.
Pacific Railroad Aid Bonds Due Jan. 1, 1899. -O fer to
Prep ty.—The Secretary of toe Treasury on Sept. 3 issued the
following circular, off-ring during S.eptember to redeem the
balance of the Pa;iSo Railroad aid bon is, Tnese bonds ma­
ture Jan, 1, 1899.
By virtue o f authority container! in orlsOni? law, th e Secretary of th e Treas­
ury hereby gives public notice th a t United States *' per cent bonds of th e face
value uf $ -».•*
i.Rued under acts oi Ji-lv l.
and Ju ly £ , Jc0*., in aid
or denain P a iflii railroad*, tis stated below, and c ■ mmouly Rnown a s ‘•cur­
rency
will be redee .ed at auv tim e during" the m oatli of Septem ber, with
int-jrest »o and i iclud ng Dec m bur-u, iSJ6, less a rebate of one tiaP of i per
c n up-m the face value of th e bond-.

i he bonds are la denomtnations •«f $1,000, ♦ft.000 and *1 <,000 , and were issued
1
In aid of t ie
.-named railroads: Central Pacific Rai (rood, $u, •,4 h'0;
7.‘
Union Pacific Railroad, $3,io?,0i)J} Western Pacific Riilroad. $i,dob,5dt; total,
$ 4 1 4 - 0.
,0 1 ,6

rollowln

Packages containing bonds forwarded for redem ption should be ad 1rested to
tbe secretary of the Trea iny. *> vision of oaita and Cu ren v. Wasalri ton,
D. C„ and th e bonds should be assumed io th e ‘‘Sec etary of the Treasury
Balance for r^demoi
A sstiim *uts must bo
nroeerly
S"rpl "S prescribed in the note p n ni ed on th e sackdated andbond. ackuowledRed, as
of each
W hwe cheek- in t ay mem. are desired in favor- of any one but th e payee the
$ 8,797
113,300 bonds s »»*nfd be assigned to the ‘Secretary of th e T rea-ury for r demptron
for account of -— - —” <H«re insert the nam e of the person to whoso
order the
b
J, G AGE
$934,404 —V. <35, p. check should be m ade payable).
1174.
Secretary o f th e T reasury.
979,221

Metropolitan Street By. of New York.—Cable to be Be
placed ut O e.e. —The company completed last week the in
stallation of the condnit electric power system on the Sixth
Avenue line, fro n Fifty-ninth Street to Fourteenth Street,
and expects to hive the line completed from Thirteenth
Street to Canal Street about Sept. 15 The rapidity with
which the work is progressing on both Sixth and Eighth ave
nnes is given as the reason fir the immediate conversion of
the Broadway cable line to the underground electricity. The
intention was to allow this work to lie over until another
year, I ut instead of so doing it was decided to break around
atonee, Thework.it is stated, will b 3 done on only two
or three blocks at a time, ana when the crowded part of the
thoroughfare is reached it is proposed to codtinu“ it only at
night, wbt-n the roadway iscomparativel' clear.—V.f>7, p. 320.
Mexican Industrial By.—In Operation.—A press dis­
patch from the Cicv of Mexico says 'tliis line began <peration
Sept 2. S. W. Reynolds of Boston is President.—Y. 66, p. 961.
31 111 Creek Valley Street RR. S fock Increased—The
company lias certified to an increase of its capital stock from
$50 v 0" to $t 750.000, Of the additional stock $500,000 is to
be common and $750,000 preferred stock. L, C. Weir is Presi­
dent and O. B. Brown Secretary of the comp my. which is
successor of the Cincinnati Hamilton Middletown & Diiton
Street RR , a company organized in 1894 to build an electric
road from Cincinnati to Diyton. A few weeks aar > the
greater portion of the line formerly belonging to the Cincin­
nati Incline Railway was acquired. Construction. R is under­
stood, is now in progress between Cincinnati and Hamilton,
National Linseed Oil.—Rcorganieition Committee.—Fred­
eric P. Olcot , S mine! Thomas and Henry W. Poor, at the
request of a large number of stockholders and creditors of
the National Linseed Oil C 3 have consented to act as a
.,
committee to undertake the reorganization of that company.
The stockholders are requested to deposit their stock on or
before Oct. t. 1899, with the Central Trust Co. of New York.
TheTru-t Company will issue negotiable receipts for same.—
V. 67, p. 371.
National Shear Co.—Incorporated.—At Trenton, N. J., on
Wednesday, this company was incorporated with an author­
ized capital of $3,000,090. of which one half i? 7 per cent cumu­
lative preferred. The company is formed fur the purpose of
manufacturing shears, razors and scissors. The corporators
are C, B. Fil ler. Newark; J, B. Parks Boston, and W. P.
Chspman, New York. The principal New Jersey office is at
15 Littleton Avenue, Newark. The company, it is stated,
will operate the factory of J. Wins & Sons, "manufacturers
of shear-, scissors, other fine cutlery and also silverware.
F. C. J. Wins is named as Newark manager for the National
Shear Company.
Newark k South Orange Ry.—North Jersey Street Ry.—
Bonds C- lied,—The $1.560,('09 5 per cent bonds of the New­
ark & South Orange Ky. Co. have been called for payment at
par and will tv» replaced by that per cent bonis of the North
Jersey Street Ry. Co.—V. 67, p. 75.
Northern Pacific Terminal.—Called B onis.—The follow­
ing bou is h i<*e b ■ n drawn for account of the sinking fund,
viz; Nos. 40, 181, 237, -481, 56 7, 850, 861, 1094, 1284 , 3-.13,
1

IV ol . LXV1I.

Peoria & Eastern Ry.— Extension of Bonds. —H illers of
tbe $1 000,000 preferred bonis of tbe Indiana B1 lomington &
Western RR. Co. maturing Jan, 1, 196 t, are notified by ad­
vertisement that the Peoria & Eistern Ry. C > has arranged
for the extension of these bonds to April 1, 194*1, with inter­
est from Oct. 1, H-98, at 4 per cent per annum, payable April
1 and Oc'ober 1. B in Iholders may pcesent their noudsat the
office of the Central Trust Co. at any time on or after Oct l,
1898, for toe purpose of having the same stamped and exten­
sion agreement and new couptu sheets attacned. Existing
coupins maturing on and afiei Jan. 1.J1899, will be detached,
and cancrled. Bondholders so pre-enting their bonds will be
entitled to receive in cash an amount eqnal to in ere-ton same
at 7 per cent from July 1, 1999, to Oct. 1, 8»8, and at 3 per
centfrom Oct. 1, 1898, to Jan 1, 1900. In case of holders not
desiring to extend, the Central Trust Co. will purchase their
bonds at par and interest at 7 per cent from July 1, to Oct. 1,
1898, and at 3 p. c. Oct. 1,1899, to Jan 1, 19 to.—V. 67, p. 435.
Pueblo Electric Street Rt.—Pueblo Gas & Electric—
Pueblo Electric Light & Power—Pueblo Light, Heat &
Power.—Consolidation.—A complete reorganizati on of the
street railway and electric light companies of Pneblo, Gil.,
has been effected. A new company has been organized
which has purchased (he property of and consolidated into
one company the Pneblo Electric Street Railway Co., the
Pn-blo Electric Light & Power Co., the Pneblo. Light, Heat
& Po ver Co , and the Pneblo Gas & Electric Light Co., the
owners of the stock of the different companies taking bonds
and stock in the new company. All the different properties
will be operated hereafter from one large power station, and
there has been added to the .equipment three Mclotesn &
Seymour compound condensing engines, of which two are
800 h.p. and one 600 h.p. The generators are General Elec­
tric direct connected, there being two 225-k.w. generators for
street, rail way work and one 350-k.w. monocycle generator
for incandescent lighting. There will also be" one 135 -light
Brash arc machine, two 80-light Wood arc machines, four
500 T. H. arc light machines and two Wood alternators.
The entire equipment of the street railway company is
being rebuilt and over $ 10 ,0 0 will be spent in making the
00
plant one of the finest in the country. The officers of the
now company are M. D. Thatcher, President: J F. Yail,
General Manager, and E. B. Brown, Chief Electrician.—
“ Street Railway Journal.'’—V. 61, p. 473.
Richmond Nicliolasville Irvine St Beattyville RR.—Sale
Postponed. Tne foreclosure sale which was advertised for
Sept. 6 has been postponed for thirty days.—Y. 67, p. 223.
Terminal Railway of Buffalo.—To be Opened Sept. 15.—
The opening of this terminal line, extending from Blatsdell
to Bepaw, N Y., a distance of 11 miles, will take place on
Sept. 15. The new road will enable tbe New York Central
and Lake Shore lines to shorten the ti ne of throng a trains,
The intention, it is stated, is to opera'© only freight trains On
this road at present but it is pro >able that with the adop­
tion of the winter schedule, through p tssengertrains also will
iteruo from D-pewto Blalsdell. obviating the necessity of the
long hauls into and out of Buff alo, and the delay incident to
switching.—V. 64, p. 1138.
a r tf or otw or in v e stm en t u o ii-t eeo p<i>v 5i0«

September 10, 1898.]

THE CHRONICLE.

531

During the year just closed the sum of $17S,038 10 was
added to the fund and Operating Expenses was charged
with this sum; and there was expended of the fund the sum
of $481,278 10 for actual replacements, as follows:
C H I C A G O M I L W A U K E E <& S T . P A U L
2 Passenger Cars....................................................... $17,000 00
R A ILW A Y CO M PAN Y.
4 Sleeping Cars........................................................... 82,553 19
311 BoxCars.................................................................... 115,887 37
Stock Cars................................................................. 169,303 16
THIRTY-FOURTH ANNUAL REPORT—FOR THE FISCAL 449 Flat and Coal Cars............................
285
87,290 12
YEAR ENDING JUNE 30TH, 1898.
15 Refrigerator Cars..................
9,238 26
The President and Directors submit to the Stockholders
Total..........................................................................$481,278 10
the following report of the business and o orations of the The unexpended balance of
Company for the year ending June 30th, 1898, and of the Cars June 30, 1898. amounted totbe Replacement Fund for
$68,292
sufficient to
condition of its property and finances at the close of that replace the shortage of 194 cars shownand isstatement on
by
year.
The operations for the year show the following results : page 35 of pamphlet rep rt.
tbe year
Gross Earnings................................................................$34,189/636 tional rollingalso been expended duringautomatic for addi­
8 There has
couplers
Operating Expenses (including taxes)............... 21,201,566 r 1 as required by stockoffor air brakes and other improvements
Act Congress, and for
Net Earnings ................................................... $12,988,097 07 to rolling stock, the sum of $1,197,368 04, which has been
Income from other sources......................................... 131,01812charged to Cost of Road and Equipment, as follows:
2 Buffet Cars......................................................... $22,000 00
7.030 49
Total........................................................................... $13,119,1'519 2 -'tandard Postal Oars........................
64,932 27
5
Fixed Charges—Interest on Bonds....................... 7, 90,431 46 1,276 Sleeping Cars—lhree fourths Cost............. 539,115 39
Box Cars...............................................................
Carriage Cars.....................................................
8
6
Balance above all charges.................................... $',928,68373 350 Stock Cars ......................................................... 193,793 61
51
22.198
Refrigerator Cars.............................................. 152,002 14
During the year two dividends aggregating seven per 235Brakes,
cent were paid on the preferred stock, and two dividends Air cars andAutomatic Couplers, etc., applied to 196,295 28
locomotives..........................................
aggregating five and one-half per cent, were paid on the
co nmon stock — which the dividends paid October 21st,
of
Total........................................................................$1,197.368 04
1897—three and one-half per cent on preferred and three per
cent on common stock—were from net earnings of the pre­ The five Sleeping Cars, three-fourths cost of which is in­
vious fiscal year ending June 30th, 1897.
cluded in above statement, were constructed in 1888, but
M tLES OF TRACK.
owing to litigation between the Pullman’s Palace Car Com­
Owned solely by this company:
pany and the Railway Company, the settlement of accounts
,------- Miles.--------, was deferred until the present year.
Of the total freight car equipment of the Company, eiglityMain track.............................................................6,142-64
one per cent had been equipped with automatic couplers and
Second main track.............................................. 253'67
fifty-five per cent had been equipped with air brakes at the
Third main track............................................... 3 25
Connection tracks............................................... 30'62
close of the fiscal year ending June 30th, 1898.
Yard tracks, sidings and spur tracks.......1,333-35 7,813-53 The total expenditure for Rolling Stock during the past
year—including that for replacement and that for addi­
Owned jointly with other companies:
tional equipment—2,987 Cars and 23 Locomotives—was $1,709,830 70.
Main track............................................................... 11T9
CAPITAL EXPENDITURES.
Second main track............................................. 183
Connection tracks............................................. 2'20
The following expenditures representing additions and im­
Yard tracks, sidings and spur tracks............ 47’48
provements to the property of the Com pan v have been made
--------- 62-90 during the year. Detailed statement will be found on page
Used by this company under contract:
33 of pamphlet report.
Main track............................................................. 37-17
Equipment..................................................................$1,197,36804
Second main track...................................
23-81 For Real Estate................................................................. 36,47210
Third main track........... •.................................. 1-.4 62-12
Second Track.............................................................. 513,55322
Third and Fourth Tracks.................................. 49,477 37
Total miles of track................................................. 7,938-35
Total................................................................$1,796,870 73
The lines of road are located as follows:
CAPITAL STOCK.
In Illinois............................................................................... 317-94
Wisconsin.........................................................................1.650 71 At the close of the last fiscal year the share capital of the
Iowa....................................................................................1,553-47 Company amounted to $75.08 ,500 : and consisted of $29,054,Minnesota.........................................................................1,120-09 900 of preferred stock and $46,026,601 of common stock.
North Dakota................................................................. 118-21 It has been increased during the present year by $2,763,South Dakota.......... ......................................................1,101-06 500 of preferred stock issued in exchange for the same
Missouri.................................................................
140-27 amount of convertible bonds canceled.
Miohigan.................................................
152-08 The amount of capital stock per mile of road is $12,649 84.
FUND ED DEBT.
Total length of main track.................................... . .6,153-83 At the close of the last fiscal year the funded debt of the
Company was $137,762,000.
There has been no change during the year in the number It has been increased during the year by the issue of
of miles of main track owned and operated by the Company. $4,317,000 of General Mortgage Bonds, and it has been de­
There are still 517-19 miles of main track laid with iron creased $5,49!',500 by underlying bonds retired and canceled,
rail.
as shown on page 23 of pamphlet report.
The second main track. from Bensenville to Genoa, and The funded debt at the close of the fiscal year ending June
from Davis Junction to Kittredge, on the Chicago & Coun­ 30th, 1898, was $136,588,500 - a decrease of $1,173,500 since
oil Bluffs Division in Illinois, which was under construction last report.
at the time of the last report, has been completed, with the
of funded debt per mile of road
exception of the ballasting. This line is now double-track onThe amountinterest charge par mile of road is is $22,195 69,
which the
$1,198 18.
from Chicago to Savanna, on the Mississippi River, a dis The total capitalization of the company per mile of road is
tance of 138 miles.
$34,845 53.
TREASURY BOND3.
ROLLING STOCK.
At the close
of the
At the close of the fiscal year ending June 30, 1897, the pany’s bonds of the last fiscal year the amountTrusteescom­
was
Rolling Stock Replacement Fund amounted to $431,532, of $5,433,000. in the treasury and due from
which $60,000 was for the replacement of locomotives and This has been increased during the present year $3,690,000,
$371,532 for the replacement of cars.
$171,000
received
During the year just closed the sum of $355,879 84 has as follows : bonds General Mortgage Bands $1,929,000 for
for
been added to the fund by charging to operating expenses underlying bonds canceled by sinking funis ; February 1st,
maturing July 1st, 1897, and
the cost of the replacement of 38 locomotives un fit for ser­ underlyingand canceled, and $1,590,000 for additions and
1898, paid
vice and ordered to be scrapped : and there was expended improvements to the property.
of the fund for actual replacements the cost of—
It has been decreased $2,533,000, as
23 locomotives............................................................$227,479 84 general mortgage bonds were sold at a follows: $2,500,000 of
premium for the pay­
The unexpended balance of the Replacement Fund for ment of maturing bonds and $35,090 of general mortgage
bonds and $1,000 La Crosse & Davenport Division bonds were
locomotives June 30, 1898, amounted to $188,400, and is
sufficient to cover the cost of 21 locomotives which have sold to the Insurance Department.
been contracted for. or are under construction at the Com­ Bonds in the treasury or due from Trustees, June 30th,
pany’s shops, to replace the shortage of 21 locomotives 1898, amount to $8,537,090, as shown on page 22 of pamphlet
shown by statement on page 31 of pamphlet report.
report.
The Replacement Fund for cars at the close of the last These treasury bonds represent actual expeoditures for
fiscal year amounted to $371,532, as stated above.
6-ctensions, improvements, additional property an 1 under-

f l e p a r t s a n d B a c u r a e n ts .

532

THE CHRONICLE.

[Vor,, LXVI1,

ly in g bonds paid and ca n celed , o u t o f th e cash receipts of Renewal of Ties includes 1,670,508 new ties laid during
tI k* C om pany from the operation s ot its lin e s—exp en d itures the year, costing $508,616 89. During the previous year
w hich h ave not been m atle good by th e sale of bonds.
1,880,872 new ties, costing $605,156 07, were placed in track.
B O X US IX IN V E S T M E N T A C C O U N T ,

At th e close o f the last fiscal year, th e am ou n t o f bonds
purchased bv th e C om pany and held in in v estm en t accou n t
for S in k in g F un d purposes w as, as stated above
$400,000
There h ave b een can celed d u rin g th e year:

3$ Income Sinking Fund Convertible Bonds. .$38,000
39 First Mortgage Bonds, Wisconsin Valley
Division............................................................ 22,000
84 First Mortgage Bonds, Dubuque Division,. 84,000 134,000
Par Value of Bonds in Investment, Account
June 30th, 1898, as shown on page 22 of
pamphlet report.........................................
$206,000
E A R N IN G S .

The results from operation of your Company's lines dur­
ing the year ending June 30, 180S, compared with the pre­
vious year, show an increase of $3,702,895 09 in gross earn­
ings : an increase of $2,624,027 33 in operating expenses,
and an increase of $1,078,868 16 in net earnings.
The earnings from freight traffic were $25,488,851 72—an,
increase of $3,364,049 00, or 15*80 per cent.
The number of tons,of freight carried was 14,230,742—an
increase of 2,676,589 tons, or 23-17 per cent.
The increase in the tons of freight carried was in the fol­
lowing commodities: Flour and mill feed, 89,931 tons: wheat,
128,877 tons; rye, 20,601 tons; oats, 43,791 tons; corn, 255,836 tons; dairy and other agricultural products, 111,671
tons; provisions. 110,623 tons: salt. 5,710 tons: lime, cement,
and plaster. 29,733 tons: brick and stone, 71,664 tons; iron
and Steel, 175,918 tons; iron and other ores. 352,653 tons;
manufactures, 212,293 tons: coke, 85,995 tons; live stock,
158,836 tons: lumber. 385,401 tons: other forest products,
438,802 tons: wines, liquors and beers, 96,015 tons; ice.
10.233 tons, and merchandise, 55,058 tons.
The following commodities show a decrease from the pre­
vious year: barley, 8,069 tons; flaxseed, 50,399 tons: hay.
10,943 tons, and coal, 43,641 tons.
The number of tons of all agricultural products carried
during the year was 4.453,994—an increase compared with
the previous year of 581,296 tons, or 15*01?. Agricultural
products made up 31*30? of the total tonnage, as compared
with 38*52::' of the total tonnage of last year.
The total number of tons of commodities other than agri­
cultural carried during the year was 9,776,748 as against
7,681,455—an increase of 2,095,293 tons, or 27-2S; —the per
cent of the total being 68*70.- as against 66*487 last year.
The number of tons of freight carried one mile was 3,621,348,372—an increase of 428,1’07;2»2. or 19*52?. The revenue
per ton per mile was .972 cts.—a decrease of ‘036 cts., or
8*57?. The average miles each ton of freight was carried
was 184*20 miles—a decrease of 5*62 miles, or 2*96?.
The number of tons of freight carried per loaded car was
10-04, against 10'74 last year—an increase of 1-86?. The
number of tons of freight per freight train mile was 177'89,
against 167-02 last year—an increase of 6*51?. The revenue
from freight per freight train mile was $1*7284. as against
$l-683tPlast year—an increase of 2'G7?.
The increase of earnings during the past year is due to the
general improvement in business.
The average rate per ton per mile received for freights,
for a series of years past, has been as follows, viz.:
1869..
1879.. . .1*73 cts.
1889.. . .1*059 cts1870.. ..2-82 “
1880.. ..1*76 “
1890-. . .0-995 •1871.. ..2-54 “
1881.. ...1-70 “
1891,. ..1-003 “
1872.. ..2-43 “
1892.. ..1-026 *‘
1882.. ..1-48 “
1883.. ..1*39 “
1873.. ...2-50 “
1893.. ..1-026 “
1874.. ..2-38 “
1884.. . 1-29 “
1894.. ..1-037 “
1875... .. 2-10 “
1885.. ..1-28 “
1895.. ..1-075 “
1876.. ..2-04 “
1896.. ..1-003 “
1886.. ,.1-17 “
1877.. ..2-08 “
1887.. ..1*09 “
1897.. ..1*008 “
1878.. ..1-80 “
1888.. ..1*006“
:1808.. .0-972 “
The earnings from passenger traffic- during the year were
$5,986,840 18—an increase of $269,344 20 over the previous
year, or 4-71?. The number of passengers Carried was 7,095,641—a decrease of 59,048, or -83y. The number of passen­
gers carried one mile was 258,485,504—an increase of 2,874,835, or -95;; the revenue per passenger per mile was 2*862
cts.—an increase of -085 cts. or 3'735; the average miles
each passenger was carried was 85*72 miles—an increase of
•62 miles, or 1-77?. E X P E N D IT U R E S .
In the expenditures pertaining to Maintenance of Way and
Structures there was an increase from the previous year of
$307,320 37 as follows: Repairs of Track, 208,232 05 ; Repairs
of Bridges, $21,167 01: Repairs of Fences, $27,776 08; Repairs
of Buildings, $194,032 93. In the Expenditures for Renewal
of Rails, there was a decrease of $67,994 01: and for Renewal
of Ties, a decrease of $75,894 29.
^ The expenditures for Repairs of Track during the present
year, include the amount of $64,680 21 for 100,370 feet of
side tracks; $118,605 67 for ballasting on lines not pre­
viously ballasted : and $86,466 26 for reducing grades.
Renewal of Rails includes 42,260 tons of new steel rails
costing $727,218 81.
During the previous year 33,625 tons of new steel rails
were laid, costing $679,741 90.

The expenditures for Repairs of Bridges include the total
cost of 72 steel bridges, aggregating .5,688 feet in length—re­
placing an equal number of wooden bridges: the filling of
about 2*6 miles of pile bridges with earth—226 bridges hav­
ing been completely tilled and 86 reduced in length by fill­
ing; and the replacing of 275 wooden culverts with iron.
The sum of $145,000 has been charged to Operating Ex­
penses for the replacement of the Passenger Station at Min­
neapolis. The new structure is now under construction.
Operating Expenses have also been charged with the cost of
Freight Warehouses at Chicago and Milwaukee; Car Erect­
ing Shop at West Milwaukee; Passenger Station at Cedar
Rapids, and other new structures at various points.
The expenditures for maintenance of Rolling Stock dur­
ing the year were $2,918,328 70, an increase of $453,685 18
from the previous year, and include the amount of $583,917 94 charged to Operating Expenses to replace the loss of
equipment during the year, as stated on page 9, and the
cost of general repairs of 282 locomotives and 13,782 cars.
In the expenditures pertaining to Conducting Transporta­
tion there was an increase of expenses of $915,056 67, as fol­
lows; Station Service, $48,170 63: Conductors, Baggagemen
and Brakemen, $137,013 18; Engineers, Firemen and Wipers,
$176,398 49; Train and Station Supplies. $29,154 21: Fuel
consumed. $382.145 16: Oil and Waste. ’ $6,012 70; Rental
of Tracks and Terminals, $38,983 99; Switching Charges,
$51,633 31.
The cost of fuel during the past year has been largely in­
creased by the coal strike which occurred last summer and
continued for five mouths. During this time we were
obliged to get coal wherever we could and to pay whatever
price was necessary. The cost of fuel was increased $125,000
from this cause. The remaining increase of cost was due to
increased tonnage of freight transported.
By agreement with the City of Chicago, as expressed in
the ordinances passed December 2d, 1897, amended Decem­
ber 29th, 1897, and February 21st, 1898. amended May 23d,
1898, this company lias undertaken the elevation of its tracks
between Central Park Boulevard and Mayfair, a distance of
4-24 miles, and between Hawthorne Avenue and Wood
Street, -15 mile, and the depression of the Deering line
track, -22mile.
This involves the. elevation of the Y at Pacific Junction
and the North Chicago line, *54miles—making a total eleva­
tion of 4-93 miles, and total depression -22 miles.
The work from Central Park Boulevard to Pacific Junc­
tion is under construction, and will be finished during the
present year. The remainder of the work, from Pacific
Junction to Mayfair, from Hawthorne Avenue to Wood
Street and the depression of the Deering line track, will be
done next year.
The work now being done, from Central Park Boulevard
to Pacific Junction, provides for four tracks.
The renewal fund of the Company, shown in the General
Account, was created by current, charges to Operating Ex­
penses during this and previous years, to provide for the
cost of track elevation in Chicago and for other extraordin­
ary expenses. The estimated cost of track elevation now
under construction is $954,425.
The payments of the Company for labor directly em­
ployed in its service during the year were $12,477,340"70, as
compared with $11,502,924 27 last year, and for Material and
Supplies, $7,105,500 37, as compared with $5,114,170 26 last
year.
INSURANCE DEPARTMENT.

In the last annual report of the Company, the Insurance
Departm ent at the close of its fiscal year ending June SO,
1897. had a cash credit balance In haul; o f .......................$35,988 07
From which there has sinoo been paid for lire losses prior
to that date....................................................... .................
71 4 »
M aking
true credit balance as of that date.................... 35,916
To this amount add premiums received for year ending
June 3 0,189S...... ............................. ............. ................. 91,753 84
A d d income from the G uaranty Fund Investments............ 24,845 00

ilia

Increasing the cash balance to............................................... 152,510 4(1
Against which there has been charged for paym ents made,
tie follows:
For Adjusted Losses for y e a r................................. $14,69447
For Expenses for the y e a r.....................................
3,77828

For $14,000 Knnsas City Belt Ry Co. bonds

purchased............................................................. 14,00000
F or $2,000 C. M.
81. P. Ry Co. La Crosse
Davenport. Div. boud- purchased.............
2,090 00
For $35,000 C. M. A- St. P. Ry. Co. General
Mortgage bonds p u rc h a s e d ............................... 35,00000
For premium for re insurance of part of the
more hazardous risks (of widen there Is
chargeable to next fiscal year, $16,109 59
for proportional amount of the premium for
eight months and teu days to March 11th,
1899)..................................................................... 23,33333

&

&

Total............................................................................ .

92,890 08

Leaving cash In bank June 30th, 1898................................ .. $59,019 38

There are no unadjusted claims for fire losses during the
year and all expenses of the department have been paid.
The property holdings of the department since its organi­
zation in February, 1893, to Jmie 30, 1898, show a net in­
crease of $313,959 38. The original Guaranty Fund of
$300,000 has been increased to $554,340, represented by
$572,000 par value of bonds as per list below, in additionlto
$59,619 8 cash in bank.
8

THE CHRONICLE.

S eptember 10, 1898.J

The Guaranty Fund of $554,340 shown on the Insurance
Department books is invested as follows:
Chi. Mil. & St. R aul Ry. Co. General M ortgage 4% bon d s...... $435,000
“
“
“
Consol. M ortgage 7% bonds........
10,000
“
“
“
So. Minnesota Div. 6% bonds.......
2,000
“
“
“
L a Crosse & Dav. Div. 5 % bonds ..
4,000
“
“
“
Ch1 & Pac. W est Div. 5% bonds...
.
5,000
Dakota & Great Southern R ailw ay Company 5% bonds.........
6,000
Kansas City Belt R ailw ay Company 6% bonds........................ 110,000
P a r value of bonds................................................................ $572,000
Amount of annual interest on s a m e .................— ............ $25,570

533

G E N E R A L A C C O U N T J U N E 30TH, 1898.

Dr.

Cost of Road and Equipm ent...............
Bonds, Stock, etc., of other Companies
Cash, and Bonds held in Special Trust,
for Dubuque Division and Wisconsin
Valley Division Sinking F unds.........
N ew England Trust Co . Trustee, Du­
buque Division and Wisconsin V alley
Division Sinking Funds.....................

$214,195,294 69
840,523 12
$5S9,497 48
288 S9
589,786 37
409 08

&

Farmers’ Loan
Trust Co, Trustee___
Depositaries of Ren ew al F u n d United States Trust Co .....................
Union Trust C o ...................................
Continental National B a n k ...... ........

1,083,250 62
528,100 00
50,000 00

The Insurance Department property is represented on the
general books of the Railway Company by the nominal
charge of $10,000 to Insurance Department, shown on the
balance sheet, page 22.
The prospects for business the coming year are good The
crop of small grains on your lines is the best there has been
for several years, and general business promises well.
To the officers and employes of the Company much credit
is due for the faithful and efficient manner in which they
have performed the duties assigned them.
For details of operation reference is made to the state­
ments by the General Auditor, appended hereto.
Bv order of the Board of Directors.
ROSWELL MILLER.
A
, 1898.
President.

Stock of the Com par y held in Treasury.
Due from Agents and Conductors........
Due from Sundry Companies—
TrathcBalanc.es.............................
Operating B a la n c e s................
Miscellaneous B alan ces........................
Due from United States G overnm ent..
Cash on deposit and on hand.................

S T A T E M E N T O F IN C O M E A C C O U N T , J U N E 30, 1898.
Credit Balance, June 30,1897.................
$8,509 719 85
Dividend payable Oct. 21, 18^7, Irom net
earns, of year ending June 30. ’97, viz :
3V>6 on $29,054.900—Preferred S tock ... $1,016,921 50
3% on $46,026,6 00-C om m on Sto ck ....
1,380 798 00 2,397,719 50

Capital Stock, P re fe rre d ....................... $31,818,400 00
Capital Stock, Com m on......................... 46,026,600 00

$6,112,000 35
Balance July 1.189 7.............. .............
Gross Earns, for year ending June30,’98.$34,189,663 68
Less Operating Expenses (incl. t a x e s )... 21,201,566 61

Funded D e b t........................................
Wisconsin V alley D iv. Sinking F u n d ...
Dubuque Division Sinking F u n d ...........

N et Earnings............................................. $12,988,097 07
Income from other sources.................... .
131,018 12

Sinking Fund Income Conv. Bonds......
Renewal Fund......... ....... ........................
Replacement F und—Locomotives........
Replacement Fund—C ars......................

ugust

N et revenue for year ending June 3 0 ,’93.$13,119,115 19
Interest accrued during the
year on Funded D e b t----- $7,190,431 46
Dividend payable A p ril 19,
1898, from the net earn­
ings of fiscal year ending
June 30, 1898. viz.:
3 ^ % on $31,066,400 - Pre­
ferred Stock..................... 1,087,3 24’00
2h»% ° n $46,026,600 Com­
mon Stock........................ 1,150,665 00 9,428,420 46
Bal. for the year ending June 30,1898..

&

1,661.350 62
10,000 00
2,265,902 03
319,247 50
5,498,000 00
1,089,000 00
6,587,000 00
4,700 00
415,847 17
108,429 05
147,146 28
979,229 95
SJ'LSlti 20
5,087,742 83
---------------------7,045,91148
------------------------$233,520,124 89

Or.

77,845.000 00
136,588,500 00
593 87
589,192 50
589,786 37
, 12,790 00
1,698,505 45
188,400 00
68,292 00
256,692 00

Pay Rolls and Vouchers.........................
Due Sun- ry Companies —
Traffic Balances...................................
Operating Balan ces............................
Miscellaneous B alan ces.........................
Dividends Unclaim ed...........................
I nterest Coupons not presented............
Interest Accrued, not yet payable, in ­
cluding interest due July 1st..............
3,690,694 73

Credit Balance Juae 31,1898

Insurance Departm ent..........................
Slock of M aterial and F u e l ..................
Investment Account—Cost of Bonds
purchased for Sinking Fund purposes
Mortgage Bonds of the Company, un­
sold, held in its Treasury and due
from Trustees......................................
Milwaukee
Northern RR.C’o. 6% Con­
solidated M ortgage Bonds, unsold,
held in the Treasury of this Company

$9,802,695 08

Income Account.

1,992,680 11
248,625 91
3,604 11
1,010,^3145
47,676 58
44,657 00
3,377,980 83
6,726,155 99
9,802,695 08
$233,520,124 89

an increase of 12 per cen t; the average receipts per ton per
mile falling from 614 mills to 5'45 mills. Larger train-loads
were averaged, so that the earnings of freight trains per
mile were
this year as last. The loss
NINTH ANNUAL REPORT—FOR THE FISCAL YEAR per ton perthe samedue to excessive competition of {revenue
mile is
and to the
.
ENDING JUNE 30, 1898.
carriage of a larger amount of lower-class freights.
The number of passengers carried one mile shows an in­
To the Stockholders:
crease of 7 per cent and the revenue 5 per cen t; the average
For the flseal year ending June 30,1898, the
- earnlnRSOftheC. C. C. & St. L. Ry Co.,proper, have been.$14,320,1)94 19 rate per passenger per mile falling from 1'964 cents to 1'915
cents. The passenger train mileage decreased 113,818 miles.
O perating expenses, including taxes............................. 10,968,368 02
This, with an increase in mail and express earnings, carried
-Net earnings......
$3,3 >1,728 47
the passenger train earnings per mile up to 99'43 cents, from
Interest and rentals
2,908.024 40
92'99 cents the previous year.
heaving a balance to credit of moome o f.................
The year ending June 30, 1897, closed with a deficit after
$146,702 07
Deducting from this three quarterly dividends of lt j
paying three dividends upon the preferred stock, the Com­
per oeut each on the preferred stock...........................
375,0J0 00
pany passing the dividend for the quarter ending June 30,
1897. During the year just closed the Company has been
Leaves a surplus of ..................................................
$71,702 07
To which add sundry balances of aocounts ..................
35,188 66
enabled to resume dividends upon the preferred stock, and
has paid three, and the indications now are that the regular
Making a total surplus o f..........................................
$106.8 ’O 73
Which added to the income aco’t of the previous year..
19*,861 67 | quarterly dividends can hereafter be paid.
As will be seen by examining in detail the statements of
Makes a balance o f.....................................................
$305,752 40 the Company, there has been considerable money expended
The mileage of main track from which these earnings ! and charged to expenses to put the property in proper con­
were derived has been the same as in the pre vious year.
dition and repair some of the wastes of previous years, when
The Mt. Gilead Short Line (2 miles in length), operated ' the earnings were light, especially in reference to the equip­
by this Company, earned, gross, §4,344 45, an increase of ment. Some of the principal items which have been spent
$58 77 compared with the previous year ; the operating ex­ Iduring the year and charged to repairs (the company hav­
penses were $5,860 35, showing a loss for the year of $1,515 94, ing made no charges to Construction Account for any re­
against a profit of $420 31 for the previous year.
pairs or improvements during the year) are as follows : 28'8
The Kankakee & Seneca Railroad (42'08 miles in length), | miles of new side-track for the accommodation of business
operated jointly for account of this Company and the and the passing of trains, including new yards at GreensChicago Rock Island & Pacific Railway, earned, gross, $95,- burg, Ind., at a total cost of $96,621 76. To comply with the
523 65 ; operating expenses were $72,277 36 ; net earnings, ordinance of the city of Columbus, new stores were built
$23,246 29, against $11,400 09 last year.
upon the viaduct abutting the Company’s property, at a
The Peoria & Eastern Railway, from Springfield, O.. to Peo­ cost of $36,589 50 ; this was charged directly to expenses, but
ria, 111. (852 miles in length), earned, gross, $1,883,106 55; in time there should be an income from the rent of these
oper ating expenses, $1,426, 24 .59 ; net earnings, $456,781 96 ; stores. $326,000 was charged to expenses for new freight
fixed charges. $441,620 00 ; showing a surplus of $15,161 96 ; cars to replace those worn out in the present and previous
as against a deficit of $98,773 16 last year.
years; in addition to this the ordinary repairs were fully
The above lines make a total mileage of track on all the maintained, and $36,577 expended on account of additional
system operated and controlled by this Company, including air-brakes and couplers to comply with the law of Congress
double track and sidings, of 3,180 99 miles. The total gross in reference to the same. The expenditure of this money
earnings of the entire system have, been $16,303,069 14, an fills the numbers of the freight equipment and brings all of
increase of $1,169,969 29; net earnings, $3,830,238 82, an in­ the same up to the Company’s standard, and hereafter it can
be maintained with only the expense of ordinary wear and
crease of $223,124 62 compared with the previous year.
The number of tons of freight carried one mile shows an tear and replacements. Fifteen new engines were pur­
increase of 27 per cent, while the revenue from freight shows chased and charged to expenses to replace old and light en­
CLEV ELA N D C IN CIN N A TI C H IC A G O &
ST- LO U IS R A IL W A Y C O M P A N Y .

rto sr

5 31

[Vol. XLVIi-

l'H E ('H R O N I OLE.

gines worn oat, at a cost of $145.-K0. Seven new passenger the last year. Its gross earnings have increased about 15
ears of various descriptions were purchased, at a cost of percent, and instead of the deficit of $98,773 lii last year,
$48,0(H), and charged to expenses on account of renewals there is a surplus of $15,101 90 after deducting fixed charges,
acd replacements. Altogether, in addition to these iteats, in addition to this, in the expenses is the sum of $103,491 97,
the expenditures for stations, rails, ties and ballast have which it was found necessary to expend in rebuilding the
been fully up to the requirements necessary to maintain the Urbana shops. This large expenditure has been impending
property in its present high standard of physical condition. for several years, and it was thought could he uo longer
It is anticipated that for the coining years a large sum can postponed, and was made this year. The freight equipment
be saved in the expenditures for equipment and track from of the Company has not been fully maintained during the
those of the last year.
last five years of depressed earnings, and arrangements have
$508,118 80 has been charged to expenses for taxes : an in­ been made for the purchase of 1,000 box cars, which com­
crease of about 1 per cent over the previous year. Tins pletely fills all the vacant numbers. These cars were pur­
burden is still as serious as ever and not much relief can be chased for 10 per cent cash and the balance payable in sixty
monthly payments, with 5 per cent interest, and payments
anticipated for the future.
The Company's extension into Louisville lias proved a as made will be charg'd to operating expenses of that line.
source of prolit during the past year, instead of a loss, in ad­ It is thought the earnings from the mileage of the cars will
dition to bringing new business to and from the other lines take care of a large portion of this sum and that the Com­
pany can easily absorb the balance and continue to earn not
of the Company,
It will bo seen by looking at the Balance *heet
the only its fixed charges, but, it is hoped, also a surplus which
greater part of the "cost of new cars and engines purchased can be applied to the reduction of the debt which it owes the
during the year and charged to expenses is payable in ' C. C. C. & St. L, Ry. Co. for advances hitherto made. The
monthly instalments during the next three years, with in­ physical condition of the property has been steadily improved
terest at the rate of 5 per cent. This liability amounts to since your Company took possession of it and it is now in
$417,'93 80, and is carried under the name of “New Equip­ such condition that it will require nothing but ordinary re­
pairs to maintain and improve it.
ment Account.”
The outlook for business for the coming year, at the writ­ Tour careful attention is called to tbe attached statements
ing of this report, seems to be quite encouraging. Large of the Auditor, which give a full and complete history of
crops of wheat have been harvested and other crops look the operations of the Company during the past year, and it
promising. The only cloud resting upon your property is is believed that they will show some encouragement to the
the excessive competition and the low rates attending the stockholders.
same. This, it is hoped, can be reduced somewhat during The trains have been operated during the year with great
the coming year.
freedom from accident, and the Company gives due recog­
It will be noticed by examining the accompanying state­ nition her by to all the employes for their faithfulness and
ments of the Auditor that we have added to the statements zeal in the performance of their duties.
published in the previous years a comparative statement of All of which is respectfully submitted.
the earnings and expenses of the Peoria & Eastern Rail­ By order of tbe Board of Directors.
w ay for the years 1897 and 1898. It is very gratifying to see
M. E. WG.4J.Iif3, President.
, O ., A n a n s / IG , i S'j S.
the improvement that has taken place in this property d u iin g C
in c in n a t i

A —C O M P A R A T IV E G E N E R A L B A L A N C E S H E E T J U N E 30,1897, A N D J U N E 30. 1898.

ASSISTS.

Fund under latM tg. St L. D lv
Capital Stock Account of F ast
FTt. Lines, etc..................
Sloane Property, Sandusky.

230
59,790
63,078 I.
975,361

330,208

314,222

26,318
i o .ooo
1,070,333
3,62v ,097
370,888
Cash in Banks to Pay Coupons...
459,754
Cash In Banks to P ay Dividends.
8,948
Cash tn B 'k s to Redeem B ’ds, cto.
150
B ills R eceivable..........................
13,667
Aoota R eo-ivable, RR. Co.’s and
259,8g2
Btatlon Agents ...........................
127.174
b. G o v't and Post Office Dept.
12,276

30.933
10.000
1,078,333
3,592,780
421,576
460,817
10.315
4,250
1,965

96,778,937

98,178,615

V.

O
o

&

Inc. or UcC’

1808.
$
$
86.161.36S
77,72!
313,002 D.
3,074 000 i. 1,000,000
3 2 -,i 00
8 JO 000
275.000
325,000
450.000
526,000

C
O

1897.
$
.86,1<U 368
390.8 3
Genei al Supplies..........................
C.C.’J A 8 t.L.R y. G en.M tg. B ’ds..
74 000
i C . L i C KR. Fi stM tge. Bonds.
328,000
84 0,000
10 L. & C. RH Second Mtge B'ds.
275,0<»0
1C. H A G . B R F lrstM tg e Bonds..
IK . AS. R y F iistM tge. Bonds ...
325,000
450,000
IT . G. A R. R R First Mtg. Bonds.
SC
8. Ry. second Mtge. Bonds...
526,000
C. C. C. A 8t. L. (Spring. A C 1
.
1
230
D ir .) 4%
rteage BondB.
Huncle Belt R ailw a y ...........
59,790
D ayion Union Ry. Advam es
54,578
Capital Stock owned In B ra n d i
975,361

I.

14,014

r.

4,615

I.
D.
L
1
.
I.
1
.
D.

*8.000
36,317
50.687
1.063
1,366
4,100
11,702

437,401 I.
228,179 i.
166,954 I.

177,420
201,005
154,677

i. 1,399,708

1. These bonds are deposited undor the C. I. St. L, A C. Ry. 4,%
M ortgage. 2. D ep osted under C. C. C. & St. L, Ry. General Mort­
gage. 3. Tills nee unt w ill be charged with note of
A E. Ry. Co. for
$200,000. w b eD paid. This note Is due Au gust 30,1898. Indorsed by
this Company and scoured by $,'197,000 P, A E. Ry. 4% bonds. ’ R ep­
resents Interest paid on tbia note.

r.

B , —C A P IT A L STOCK A U T H O R IZ E D A N D ISSU E D .

The am ount o f O apital Slock authorized by stockholders is :

F o r consolidation of Cleveland Colum bus Cincinnati A In ­
dianapolis, I. A St. L. and C I. St, L.
R ailw ays, as
p. r agreement dated March 27. 1889.............................. $20,500,000
Authorised under resolution of Stockholders, July 7,1890,
for snki to holders of omuraon stock ................................
4,500,000
Authorized n n d -r Resolution of Stockholders, October 29,
t efiO. for exchange of Cincinnati Sandusky A Cleveland
Railroad Co. stock............................................................... 3,700,000

& C.

Total authorized................................... ...........................$28,700,000

Capital flo ck Issu e d :

On account of oonsnlld >tlon.................................................. $20,500 000
O n account of sale t • stockholders .....................................
3,797,600
On a n omit of exchange for Cincinnati Sandusky A Cleve­
land R ail oad
stook....................................................... 3,090 235

Co.

Total issued.......................... ........................................... $27,987,835

Balance Unissued, as follow s:

712,165

Inc. or

1897.
Be*.
1898.
$
$
$
.27.987.P35 27.987.835
.10.000 00D 10,000.0 0
^Capital Stk , C.S. A C. P f. A Scrip..
429,997
428.9 7
79 *.000
792,000
C. L. A C . R R First, Mart, Bonds.
710 0 0
O. t.st.L.AO .R v.latO on .6% Bds.
7,000
703,000
Do. Gen.First Mort.4 p c. Bonds.. 7,685,000
7,685,000
52,000
26,0 >0 D.
B. A 1. RR. First Mart. Bonds:..
26,000
3,000. 00
. 3,00 >,000
4,138, 00
. 4.138,000
. 3,205.000
3,205.000
. 2,0 0,000
2,00*1.000
I. A St. L. Ry. F irst Mart, Bonds .
500,0 0
500.0 0
2,01
>0,000
C.
S. Ry. First Mart. B o n d s.. . 2,000,0i 0
C. A S. Ry. Second Mort Bonds.
125,000
125,000
...........
C, C C. A St. L. By. (O. V. A C.
Ry.) First M ortgage Bonds ...1 5,000 000
5.000.000
C.S.AC RR. lstf'n n sn l M tg Bits.. 2,571,000
2,571,000
78,000
CM Spg. A Ciu. RR, 1st Mtg. Bds.
78,000
C. C. C. A St L. Rv. (Spring. A
Col. D iv ) First Mort. Bonds... 1,103,730
1,103,730
C. C. C. A. St. L Ry. (W. W . Val.
'
650,000
650,000
O. C. C. A St. L . Ry. (St, L, D lv.)
•
1st Cofiat. Trust Mart. Bonds..10,000,000 10,000,000
C. C. C. A St.
Rv. (O W . A M.
By. D v.) M ortgage Bonds...... ! 4,000,000
4.000,000
8,574.000 r. 1,000,000
0.0. C. A St. L K. Gen Mort. Bds. 7,574.000
Bonds draw n and Unredeemed..
4,000
150
4.150 X
.
Bills P ayable..............................
3,425
3.425
375,981
*234,300 D.
141,080
1 1,499,9-9
1,615,71 i .
9
115,721
2,453
.
431,256
433,709 i.
1,063
.
459. 51
460,817 i.
iDivldends Unpaid..
8.948
* 135,315 j.
126,367
D.
2*'0.000
5 200,0U0
N e w Equipm ent Aooount .......
417.891
417.894 1.
10 ,891
Bal. to Credit of Income Aoot... .
198.862
305,752 1.
.90,778.937 99,178,615 i. 1,399,708
4. For details see T able B . fi. Assum ed in purchase, 6”. M onthly
payments due fiscal years, as fo llo w s : 1899—$78,099 96; 19 0 0 -$ 7 8 ,099 98; 1901—$78,100 28. 7*. (Deludes $125,000 payable July 20, ’98

&

L.

______

C . - I N C O M E A C C O U N T F O R Y E A R E N D I N G J U N E 30, 1898.
F rom E , u s in g s —
Freight.................................................... $9 237.507 38
Passen ger................................................ 3,950,124 95
M a il.........................................................
599,525 98
E x p r e s s ...........................
332.131 96
Rente.......................................................
301,808 22
Total Eirntngs .................. ........... .

Less O p’t ’q E xpen ses , includ’g T axes.
N ict E arning * ..........................................

$14,420 094 49
10,958, 68 02

DEDUCT Fixe 1 CilARGES—
)
Interest on Bonds..................................$2,708,691 r o
R entals...................................................
196,333 40

Total F ix ed C harges .
B a la n c e ..................... ......................
D e d u c t D iv s . o n P r k f St o c k to w i t ;
No. 32. January 1, 1898, 1 s per cent..
N o 33. A o rll 1. 1-98. 1 * per cent......
No. 34, July 1 , 1 ?0 8,1*4 per cent.........
Total, 34t percent..

&

TJliburned c. 8.
O. R R ............................................ $9,765
Unissued.....................................................................702,400

L IA B IL IT IE S .

B alance.....................................................

Add Received from Sundry Bals. of Acts.
Total
............................................
B a l to Credit of Income June 30,1897.

$28,700,000 ( Bal. to Credit of Income June 30,1893..

$3,351,726 47

2,905 021 40

$125,000 no
125,000 00
125,060 00

$146,702 07

375,000 00
$71,702 07
35,18b 06
$106,8°0 73
19 ■,8 o l 67
$305,742 40-

THE CHRONICLE.

SEPTFMBEB 10, ISl-f'.j

J>.—COM P A R YTl V E 8 T A TE vtENT O F E A R N IN G S , O P E R A T IN G
E X P & N a E S , O P E R A T IN G COST A N D D E D U C T IO N S
FROM IN C O M E .
30,1897
1898.
189“
’.
1898.
$S,254.8 72 80
$9,23 ,507 38
F r e i g h t ___
. 3,665,19 • 28
'
3,850,125 95
58*i,275 87
593,525 98
M a i l ......
332,173 2 L
332,131 96
Express.
2*4,596 13
3« 1,803 22
R en ts...,

For Twelve M onths ending J a n e
E arning*

and

$13,117,111 29

Operating Expenses—

$14,320,094 49

$269.*>08 96
463.774 24
4,897. *51 00
1.56 4.619 60
1,705,606 67

$278,280 69
495.V74 34
5.124,70S 02
2.114.094 70
1,907,918 77

. $8,898,260 47

$9,921,006 52

General Ex p a u se s......................
Traffic Expenses..... .................
Conducting Transportation................ .
Mait tenance of Equipm ent........

O p e r a t in g C o s t ...........

67-83%

6928%

Car Service, Passenger.
“
Freight ....

$62 426 25
27 5.473 36

$61,774 53
342,970 79

$337,899 61
48,838 47
579,6o5 76

$104,751 32
44,491 88
593, L18 30

In su ran ce.
T a x e s........

535
-T ea r end. J u n e 3 0 -

Trai nmen—Frei ght............................
T ra in m en -P a ssen g er.......................
Fuel for Locom otives.......................
W ..ter Supply for Locom otives........
Oi 1W aste and T allow — Lono motives
,
Oil, W asts and Tallow —C ars...........
Locomotives Sup .lies.......................
Train Supplies—Passenger...............
Train Supplies— Freight....................
Cleaning Passenger Cars..................
Round lion semen...............................
I Switchmen........ ...............................
Watchmen and Flagmen at Cross’gs
Telegraph Expenses.........................
Station Service—Agents and Clerks.
Station Service—L a b o r...... ...........
station Supplies................................
Union Passenger Stations...............
! Switching
.....................................
Car.Ser.,W ei’g<fc F r’t Insp’n Bureaus
Dining C ar S e rv ic e ..........................
Stationery and P r i n t i n g .................
W recking............................................
Loss and Damage..............................
Injuries to P e rso n s ..........................
Stock Claims......................................
Y . M. C. Associations, etc.................
Fiie Claims.........................................

Va intena nee o f E q uipm ent

$956,403 86

$1,047,361 50

$9,861,664 33

$10,968,363 02

75*20%

76 59%

$3, 52,446 96

$3,351,726 47

$2,637,018 78
196,877 40

$2,708,091 00
196,333 40

$2,8*3.926 18

D eductions fro m Incom e—

$2,905,024 40

M a in te n a n c es/ W ay—

..
.
.

$368,520 78

$146,ft 2 07

—

D is t r ib u t io n .

President and Secretary..................
Local Treasurer. ...............................
N e v York Office, T reasurer..............
A u d ito r..............................................
Purchasing Aeeut..............................
N e w York office, Vioe-Preddenfc____
General Office Expenses...................
Corporate Expenses..........................
Stationery, Printii g and Postage...
Legal Expenses.................................
Rents..................................................
Special T a x Agent.............................
T o t a l.
—
Freight Traffic M anager....................
Outside Agencies—F reigh t..............
Fast Freight L i n e s ...... ...................
Traffic A socla»ions—Freight...........
Stationery an I Printing —Freight...
Passenger Traffic M anager..............
General Pass, a d Ticket Agen t___
Ont*l«ie Agencies—Passenger...........
Traffic Associations—Passenger......
Stationery and Printing— Passenger
A d v e rtisin g .......................................

Traffic Expenses

T o t a l.

Conductin'/ Transportation —

Superintendence .............................
Enginemen and Fireman—F reigh t..
Eugiuemeu and F ire m e n -P a sa V e r.
Englueiueu and Firemen—Switeh’g.

Tear end. J u n e
1897.
$
32 027
18.1
7.936
88.265
10.715
7 138
38. '4 7
7,102
15,215
54.824
4,502
4,811

15

30—
*
1893.
$
34.835
17,798
8,332
91.* 97
10.817
-,5 -5
20,0 8
5.427
14,1*51
61,811
4,1 66
4,875

$
2,808
D.
32 *
396
I.
I.
2,831
102
I.
1). 2,653
1.
1.540
L). 1,675
664
6,988
I.
436
I).
64
I.
9,072

X

X

1.227,675

5,124,708

.1,562,620

R ail Renewals..

Ballast ....................
Frogs and Switches.

I.

D.

X

D.
41
I. 84.908
I. 13.162
I. 52,801
I.3»8.427
I. 69,937
D. 1.719
D. 12.910
D. 3,145
I.
55

2,114,095

1.551,475

.
62,517
.
83.729
. 219,076
. 70 ,'05
. 115,425
4 5.636
.
30,9 .8
g
17,634
.
41.381
. 142,* 92
18,473
7.137
. 175.751
4,411
.
823
6,847

65,766
62.117
244.375
722.916
137,156
59.612
32.521
30,459
44,650
232 992
18.679
9,952
172.9 17
25,930
818
47,065

I. 3.250
D. 21,612
D. 4,700
1 19,811
.
I. 21,731
I. 13.977
I. 1.553
T. 12.825
I.
3.269
T. 90,300
I.
207
X. 2,816
D. 2,817
I. 21,519
D.
4
I. 40.218

.
.

1893.—.

Inc or Dec.

$
I. 43,971
D. 4,188
78,771
D.
495
I. 2,111
D.
34 1
D.
591
I.
5,028
D. 1,635
1,047
D. 3, 36
I. 21 105
D. 2,385
D. 2,569
I.
6.852
I. 32,107
I.
2,109
8.135
I. 11,987
T. 6,531
I.
2,651
D. 4.083
I.
4,6 7
D. 2 t, 16
D. 8,768
T
.
67
D. 2,254

54.306
402.531
229.972
165,542
919.443
271,499
6,-27
2l,8*‘0
39,551
2 514

] Car Repairs—W orking.

F . —D E T A IL E D S T A T E M E N T O F O P E R A T IN G E X P E N S E S .

General Expen.srs—

IncorD ec.

54,347
317ti 23
216,810
112,741
571,016
201.562
S.546
31.790
42.697
2.489

.

Rentals.

^-.1898..-

1898,
$
477,410
217,183
861,592
61.839
30,151
18,236
21,840
53 250
51,428
61,295
129,25 3
427, - 09
68,250
157.841
521,595
286.367
52,238
236,194
10 3,807
24,1-0
2 ,017
32.4 i3
13.037
53,3 0
95.415
11 707
6,378

.4,897,051

Stationery and Printing..

O perating Cost.

—
Superintendence........................
Locomotive Repairs— FreightLocomotive Repairs—Passenge
Locomotive Repairs—Switching

1897.
$
433,440
221,370
782,822
62, -<34
28,040
18,577
22,2^1
48.222
53,063
60,248
132,789
406.604
70,635
160 410
514 7- 2
254,260
50.130
228.059
91,821
17,589
20,367
36,536
8.360
83,246
104,182
11,640
8,632

Track and Bridge W atchm en.
Telegraph Repairs. ..............
Dock8 and W h a r v e s ......
stationery and Prluting.
Land Im provem ents...... .

T o ta l........................................... .1,705,607

1.9 7,919

T.202,3 *2

Grand Total................................. 8,898.290 9,921,007 1.1,022,746
€».— F R E IG H T A N D P A S S E N G E R E A R N IN G S .
✓------------------------ .
1898.
30, *97.
30. ’98.
Tons of Freight Carried . . .
8.223,347
9.6 <0.15 I I .
1,406.812
Tons Carried on e M ile ____1.343,484.9*6 1 .6 9 6 .2 2 1 ,1 1 6 1 85 ,736.9)0
Total Freight Revenue . ...$8,254.87z 80 $9,V37,507 ; 8 I.$982.634 58
Aver. Receipts per Ton Mile.
C e n ts .-614
Cents, *545 D.Cants, *069
Freight Train Mileage
..
5,442.063
6,092,78 a I.
6 >0,721
FreightTraln Earns, per M ..
$1 52
+152
..............
Passengers C arried............
4.937.250
5.093,97* 1.
156.728
Rassniigera Carried One M .. 186.657,170 200.99«.«5 7 I. 14,341,487
Total Passenger Revenue. $1,665,1*3 v8 $3,850,125 95 f.$1*4.932 67
Aver. Receipts per Pass. M. Cents, 1*96 k Cents. 1*915 D Cents, *0*9
4, 08,764 D.
113,818
Passenger Train M ileage. .
4,922,582

263,209

273,281

I.

89,196
56.029
97,972
21.501
13.238
13.655
33.928
73.891
5,077
17.5 l
41,416

91.542
02,395
109.612
1 ,876
9. 06
11,320
30,4 5
79.4*8
8.250
18.533
55,287

2.046
I.
I.
0.367
I. 11,639
D. 1,6V 4

463,774

495,974

I . 3 2,‘
.00

153,73 8
37 1.6-6
245.767
1*5,514

155.641
4OH.086
238 9
213.800

I.
1,903
I. 34,4»'0

From P tssengera.................
From M ail ...........................
From Express......................

$7445
*1179
0675

$•8008 T.
1215 1.
•0691 I.

$•0561
• 0 * 66
•0018

D. o,776
I. 18,285

Total Pas. Train Earn. p. M.

$ 9299

$*9942 I.

•0643

*1

D. 4,03 2
D. 2.335
T). 3.473
L
5 .5 '7
3,173
I.
I.
1,0 L2
I. 13,871

Year ending
June

June

Passenger tra in ea rnings per m ile —

Inc or Dec.

I . — S T A T E M E N T O F GROSS A N D N E T E A R N IN G S , F IX E D C H A R G E S , A N D C A P I T A L 8TOCK F O R T E N Y E A R S .
1889.

1890.

189.,

18 j3.

1892.

1891.

1895.

1838

|

1837.

1898.

Grow earnings........ #11,453,99100 $ 2.901,657 90 #13.1 ‘ 4.438 741 #19,818,116 96 # 14.66°,O' 5 64 #•3.034,049 27 #18/25,0 7 09 $ 3.704,534 7* {13,117,11 120 {14.320.091 49
Net earnings .........
*,"19 925 25
M,'70.959 6“
3.4lo,83i 44
3,352,440 961 3,351.7 •»' 47
4,165,4*0 03, 3,910,410 6:
8.07H.5 3 53 3.7"4,2* 9 02j 3. 83,64 40
Fixed charges.........
2.7. 0.H23 HI
2,-41.509 71 2,883,92* 1 * i 2 906.024 40
>
2.724, *1 38
?,HV/.M01 20; 2,759.171 90 2.HU 7 5 58
2.69//. 0*77 1 2 570.174 2
Gftpttnlst ek.......... 1 2 ,.v
• ■ 3 .50* .<*0 on 87.277 11*00 5*8,......
0,0000' 38.0*91/1100 1 88, 00.0 0001 1 8 00il,0i > 00
•8 000 000 00
“0 8 .0 0/ ' n 0
J . — S T A T E M E N T O F M IL E A G E
O f M a in T r a c k . D o u b l e T r a c k *> d S i d i n g s o f t i i e V a r i o u s L
C o n t r o l l e d a n d O p e r a t e d n r t h e B ig F o l k S y s t e m .

D ivision—

Cleveland .....................
Cincinnati
.................
Indianapolis...................
St. Louis.........................
C a i r o ..............................
C h ica go ..........................
W h lle w ate r....................
Sandusky........................
Michigan.........................

M ain
Track.
Mites.

1 <7 75
174 53
20322
2 u- 3 i
270 30
320 *7
7**06
146*il
2 »9 u 3

T o t a l........................ 1,838*11

Double
Truck.
Mdes.
19*49
13 42
4-70
1*49

2041

69-51

Sidings.
Mites.
120 54
812 1
91*7 »
112 57
48 30
188 8
7*47
41-81
74*18

706-31

in e s

Total.
Mites.

277 78
269*19
299*71
38'**40
3 •8'HO
529 2*
77-53
188*25
323 21
2,t 63 93

I n addition to the above the Company controls the o p e r a ­
tion of the following :

M ain
Track.
R ailw ay —
Miles.
Peoria & Eastern...........
362 00
Kank hu rr & .Seneca........
42 04
Mt. Gilead Short L in e...

Double
Track.
Miles.

T o t a l........................
396 03
Total m ileage. Big Four
sy ste m ........................ 2 234‘ 19
The
is

59 51

Total.
M iles

114-03
6 48
*47

46 03
48 5 ,;
2-47

120-98

2 00

Bidinqs.

51706

887*29

3,180-99

Company uilso one- fourth owner of the Peoria &
Pekin Union Railway, one-seventli owner in the T e r m in a l

Railroad Association of St. Louis, two-fifths owner of the
Indianapolis Union Railway, and partial owner of the Dayton & Union Railroad.
K . —E Q U IP M E N T S T A T E M E N T .

Statem ent o f E quipm ent oxened a n d controlled
by this Com pany.
CLASS.
.
-----o R
r <e
&
L o c o m o t iv e s 0. 0. Nam eS t. fL. oad..-------.
0. d

Passeug r ...........................
Fruit ht-................................ ..............
..............

T o tal.............................
P a s se n g e r C a r s —
Coaches ............................. ...............
Baggage C a r § .................... ..............
Postal Cara........................ ...............
Parlor, P ay and Officers’ ..,
Dining and Cafe ............... ..............

Total.
143
272
1L3

231
1 5

17
41
8

68

533

239
75
27

22
8
3

261
83
:-o
28
11

11

T o t a l .....................
...............
380
F r e ig h t C a r s —
B ox ................................. . ............... 8.742
'tock ................................. ..............
6:-4
Coal and F la t ..................... .............. 2,908
192
Caboose.............................. ...............
456
Special .............................. ..............
379
Refrigerators..................... ..............
T otal............................. ..............13,311

33

413

365

9,107
634
3,147
234
625
379

239
42
169
815

14,126

T H E C H R O N IC L E

536
L .—PHOBIA ®

E A S T E R N R A IL W A Y ,

O oinpam ttcc Statem ent o f E nrntm js. O perating Expenses, Operating
(tost (in i tied Heltons fr o m Income, For re tire Month*
ending J u n e 30, I8 »7 anti 1808,
1898.
E arning*—
1897.
SI.T05.729 60
471.510
62,939
40,740
2,131

$1,031,103 04

O perating Expenses—

Gvnrral

E xpt'uets.................. . . . ...... .
$9,055 2 8
Traffic Expenses.....................................
SO,432 16
Condu, lin e Transportation..................
500,521 4 1
Maintenance o Equipm ent.......................
224.260 90
Maintenance ot M a y .............
324,727 26

$2,935 02
31,931 03
630,585 01
271,837 OR
384,752 79

t

T o ta l....................................

$1,322,040 94

$1,180,407 03

70-21%

72-37%

O perating Cost
C ar Service—P A fie n g e r........................Or.

Or.

$357 33

$329 97
18,854 03

Car Service—Freight................................

20,616 55

Total Car Service...... ......................
In su ra n c e .............................................
T a x e s ............................ .....................

$20,459 22
4.1771a
83,122 82

$18,524 06
4,003 57
81,756 02

T o ta l................................ .............. .

$107.75917

$104,283 65

Total Operating Expenses................. ..$1,288,256 20

*1,426,324 59
75-74%

78-98%

Operating Cost....................................

Tbe- balance to credit of Profit and Loss on Juno 30,
1897, w ns..............................................................................
A d d net income for year ending .1uno 30,1898....................
Deduct Dividend N o.
ferred Shares, paid
Deduct Dividend No,
ferred Shares, paid

$459,8482S
1,138,94857

$1,598,796 85
1 on Adjustm ent P re ­
Novem ber 15. 189/... $227,001 00
2 on Adjustm ent Pre­
February 23, 1898... 227,197 00
— -----------------454,19800

$156,781 96

$419.120 00
22,500 00

$419,120 00
22,500 00

Leaves balance (surplus) June 3 0 .1S98.................................$1,144,59835

$441,120 00

$441,620 00

A third dividend on tho Adjustm ent Preferred Shares
has been declared, payable August 24, 2
len t,...... $454,736 00

. $98,77316

1 815,161 96

F IN A N C IA L .

Deductions fro m Incom e —

Interest on Bonds............................... .
R entals............................. ..................
Total Dell notions from Incom e... .

N O R F O L K & W E S T E R N R A I L W A Y CO.

SECOND ANNUAL REPORT—FOR THE FISCAL YEAR
ENDING JUNE 30, 1898.
N
Y
. August 23, 1898.
To the Stockholders of the Norfolk <£ Western Railway Com­
pany:
Tlie Board of Directors submits the following report of
the operations of tiie Cornpanv for the year ending June
30. 1898:
M IL E S O F R O A D O P E R A T E D .
At the close of the fiscal year the length of the line
operated was 1,560*59 miles, as follows :
ew

ork

M ain Zinc.

Lam bert’s Point, Norfolk, to Bristol......
Branches.......................... ....................
Lynclitrarg to D urh am ............................
Branches.......... .........................
H agerstown to Roanoke.........................
Branches...............................................
Roanoke to Winston-Salem ....................
Radford to Columbus .............................
Branches to Coal
Mines...................
North Carolina Junction to Iron Ridge..
Branches................................
Graham to N o rto n ...................................
Brunches to Coal Mines....................

412 32 miles.

34 *40 miles.
1*00

115-43

15*15
36*12

“

22*44

“

«

121*30
401-87

"

“

238-11

"

«
•*

45-19

“

100-40

“

122*46
1,43462
.......................... 122*46

“
*•

Total miles owned............................................ ......... 1,557-08
Columbus Connecting A Terminal R ailro ad ....................
3-51

“
«

1,660-59

“

Branches.

The operating expenses, including taxes, were 70-18 per
cent of the gross earnings, and exclusive of taxes 67*17 per
cent.
The gross earnings were $7,179*03, and the net earnings
were $2,140*59 per mile of road operated.
The earnings, both gross and net, exceed those of any
previous year in the history of the road. As compared with
the results of operation for tire year 1896-97 (including three
months' operation by the Receivers, and nine months of
operation by the Company), the gross earnings show an in­
crease of $698,400*28, or 6*68 per cent. The operating ex­
penses show a decrease of $17,351*52, or 0*22 per cent, and
the net earnings show an increase of $715,751*75. or 27*17
per cent.
P R O F IT A N D LOSS A C C O U N T .

$342,840 84

Met Earn in gs....................................... .

Bsisn ce to Credit of Incom e..............
Deiicit................................... ..............

Draught foneard ............. .................................................. ..$ 3^Ss,gSf *6
Fixed Vhargcs—

Inlcrest on Funded Debt, Including Inter­
est on Columbus Connecting A Ter­
minal Ronds......................................
$ 2 ,211.075 25
Iut. on C ar Trust Otrlitloates and Bonds.,
28.358 83
---------------------

3,239,433 58
10
27
$1,143,553 88
l 0 ' Deduct ad - an ccs to Subsidiary Companies, written off..
4,605 31
28
Net income for tbe year.............................................. $1,138,948 57
$1 883,108 55

F r a lv lu ................................................. 81.0rtN.T l l 9$
P * * * v n « t r .....................................................
419,58400
M a ll..............................................................
03,02034
Kt o r r is ........................................................
40,740Oil
HvisD.......................................................
2.01 GOO
Total Earatn es...................

I

. vol, L x m

13*35

••

S kcoiv-d T uxck :
Lam bert s Point to N o rfo lk ,.................
3*87 miles.
Roanoke to Elllston......................................... 21-84
Christiansburg to Radford. ............................ 12-66
"
Tulip to BUieileld Y a rd ..................................... 5-2! ■
BlueUeld to Blucstone Junction...................... 10-97
Ennis to North Folk Junction......... .............. 4 68
“

Note :

per
The Comptroller's comparative balance sheet and Treasur­
er’s statement of funded debt, annexed to this report, show
the financial condition of the company on June 30, 1898.
It will be seen that there is an increase of 837,100 in the
company's first consolidated gold bonds outstanding June
30, 1897." These bonds, and certain shares of the adjustment
preferred stock, were taken from the securities in the com­
pany's treasury and exchanged for certain securities of the
old company which the holders had neglected to deposit
with the Reorganization Committee. The exchange was
made substantially in accordance with the plan of reorgan­
ization, but subject to a penalty.
One hundred thousand dollars of South Side Railroad
Company consolidated mortgage third preferred 0 per cent
bonds that matured January 1, 1898, have been extended to
July 1, 1900. at 4*7 par cent interest per annum.
The last mortgage of $10,000 on land owned by the Com­
pany in Hagerstown, Md., was paid during the year.
The items appearing in the balance sheet under the head
“ Investments in other Companies” were increased during
the fiscal year by $86,200, of which $80,000 was for the pur­
chase of the mortgage of that amount upon the property of
the Virginia Company, the entire stock of which is owned
by this" Company. The remainder, $0,300, represents the
Company's subscription to the Capital Stock of the Norfolk
and Portsmouth Belt Line.
It will lie seen by the Treasurer’s statement, that on June
30, 1898, the Company’s Funded Debt outstanding (exclusive
of equipment obligations and exclusive of bonds in the
Company’s treasury aggregated $46,279,950, and that the in­
terest charges for the year ending June 30, 1899, are $2,210.657. Including equipment obligations, the Funded Debt is
848,801.950. ancf the interest charges for the year ending
June 80. 1899 are $2,233,794 50.
The following Car Trust Certificates and Bonds have been
paid during the year :
C ar-T ruil Certfleate» ot 1892........ ..................................... $66,000 00
Car Trust Bonds of 1893................. .....................................
59,000 00
Total........................

................................................$125,000,00

Leaving outstanding June 30, 1898:

Total second track........ ............................ 59-23
**
Sidings...................................................................................452*70 miles.

Car-Trust Certificates of 1892...... ...................................... $253,oro 00
Car-Trust-Bonds of 189:5............... ....................................... 266,000 00

T o tal............................................ .................................. $519,000 00
T h e average mileage operated during the year was 1,565
Tbe lust of the Certificates of 1893 matures in October,
miles.
1902, and the last of the Bonds of 1893 matures in January*)
EARNINGS AND EXPENSES,
The operations for the year show the following results : 1903. addition to the above, there were outstanding on June
In
D arning*:
30, 1898. $3,000 of the Equipment Mortgage Bonds of 1888.
From Passengers....................................$1,467,532 53

20

.Mall......................................................... 199 56
.Express..............................................
147,995 83
StisrcHsneons.........................................
1 1 1,335 03

F r e ig h t...................................................... 9t3ni',sos)

C O N ST R U C T IO N , E Q U I P M E N T A N D B E T T E R M E N T S .

,? 6 0

Expenses—
Maintenance of way and structure.
Maintenance of equSpmcnt.. . . . . . . . .
Conducting transportation.............
General expenses, including taxes

*11,236,128 15

The following expenditures have been made during the
year for construe* ion, equipment and betterments, and
charged to Capita] Account:
Construction ............................. *........................................
Equipm ent........ ......... ............. ...... ...............................
A ir in akes nurt Aatomatto Coupler.-............................. .

$220,f31 84
650,000 00
283)178 97

Improvement" amt Betterment*........................................ :.

.42.977 06
'27,823 99
174.471 77
>40,750 46

164,133 82

Brani'll Llie-s mill Spur.. ...................................................

7,886,008 88

36,752 16

Tot al....................................................................................$1,334,596 79

*lie expenditures for construction include double-track­
1
ing, new sidings and extensions of old sidings, ballasting
T otal.................................................................. ........ *3,332,987 46 atul fencing, road crossings, telegraph wires, interlocking

Net e.urpings from operation...........................................
Income froin other sources, interest anil dividends.......

3,350,024 27
32.903 19

TTTE nTRDJNTULE.
plants and signals, engine houses, shops and turn tables,
general offices, fuel and water stations.
The main items charged to improvements and betterments
are a portion of the cost of replacing temporary wooden
trestles by masonry and embankments or iron and steel
structures, and by substituting new and stronger iron and
steel bridges for old weak structures. A portion of the cost
of this work has been charged to operating expenses, in ac­
cordance with the instructions of the Board.
T R A F F IC .

As compared with the year ending June 30, 1897, the num­
ber of passengers carried shows a decrease of 1'84 per cent;
but the mileage of passengers increased 10T per cent, and
the earnings increased 4-36 per cent, notwithstanding the
decrease in the average earnings_ per passenger per mile
from 2'318 cents in 1896-97 to 2-197 cents in 1897-98.
The whole of the decrease in the number of passengers
was in the local travel; 93 per cent of the earnings from
passengers was derived from local sources.
The total tonnage of all classes of paying freight moved
during the year was 8,376,948 tons. The mileage of tons
was 2,301,313,744,
The total earnings from freight were $9,308,899-20, and
the average earnings per ton per mile 0-404 cent;'81-7 per
cent of the revenue from freight was derived from local
business; 87'4 per cent of the tons carried was local tonnage.
A comparison with the operations for the year 1898-97
shows the following changes:
Increase in tons moved 1,309,276, equal to 18-78 per cent.
Increase in tons moved one mile, 351,862,257, equal to 18
per cent.
Increase in earnings from freight, $611,266 31, equal to
7‘03 per cent.
Decrease in average earnings per ton per mile, 0 042 cent,
equal to 9-42 per cent.
The bulk of the increase in freights was in coal and coke
shipments. The shipments of bituminous coal aggregated
3,664.191 net tons, and show an increase of 611,509 tons,
equal to 20 per cent.
The coke shipments aggregated 1,117,273 tons, and show
an increase of 352,372 tons, equal to 46 per cent.
The bituminous coal and coke shipments constituted about
58 per cent of the entire tonnage.
The bituminous coal business was in a state of demoraliza
tion during the whole year, and the company was compelled
to accept somewhat iower rates on tidewater and other
competitive coal than it received during the preceding year.
The shipments of grain aggregated 490.397 tons. The
rates on export grain are now so low as to render this traffic
undesirable.
The Comptroller’s statement of classified tonnage, hereto
annexed, shows the tonnage of the various articles of freight
carried over the road, and the increase and decrease as com­
pared with t he preceding year.
E Q U IP M E N T .

The Company’s equipment has been maintained in good
condition. In addition to the charges to operating ex­
penses, of the cost of maintenance and renewals, $113,434
has been credited to the Equipment Renewal Fund during
the year and charged to operating expenses for depreciation
of equipment; and $62,661 84 has been charged for automatic
couplers.
Six new heavy Consolidation locomotives, for use as
pushers on the Flat Top Mountain grade, have been pur­
chased during the year. Their cost. $69,928 28, has been
charged to the Equipment Renewal Fund.
The following additions have been made to the car equip­
ment during the year :
1,000 box cars,
15 poultry cars,
550 gondola cars,
10 cabin cars.
50 stock cars.
At the close of the year the equipment consisted of :
65 passenger engines,
26 switching engines.
335 freight engines,
Total engine equipment......... 416
146 passenger cars,
19 combination passenger
34 baggage and express cars,
and baggage cars,
25 baggage and mail cars,
5 officers' cars,
9 mail cars,
1 pay car.
Total passenger equipment.. 239 cars.
6,684 box cars,
2,272 drop bottom gondola
590 stock cars,
cars.
15 poultry cars,
6,432 hopper bottom gondola
462 fiat cars.
cars,
4 charcoal cars,
399 flat bottom gondola
525 coke cars.
cars.
Total freight equipment. ... 17,383 cars.
139 side dumpers,
275 cabin cars,
15 tool cars,
5 steam shovel cars,
1 pile driver car,
2 supply cars.
Total maintenance of way
equipment............................ 437 cars.
Floating equipment.................. 2 sea-going tugs,
10 barges.

537
P H Y S IC A L C O N D IT IO N .

The condition of the roadway and structures has bee n
much improved during the year, liberal expenditures hav­
ing been made for maintenance, renewals and improvements
(charged to operating expenses), in addition to the expendi tures for construction and betterments charged to capital
account.
96-23 miles of main and second track have been re-laid
with 85-lb. steel rails and 42-1 miles with 75-lb steel rails.
74-8 miles of road have been fully ballasted.
1,115 lineal feet of wooden trestles have been replaced by
masonry and embankments.
965 feet of wooden trestles have been replaced by iron and
steel structures.
2,046 lineal feet of old weak bridges have been replaced by
strong steel structures.
Considerable work has been done in renewing defective
bridge and culvert masonry, and some progress has been
made in the work of reducing grades.
The increase in the number and length of the Company’s
freight trains has necessitated the extension of old sidings
and the addition of new ones; 20-43 miles of new sidings and
extensions of old sidings have been constructed during the
year; 6-71 miles of old sidings and branches, for which there
was no longer any use, have been taken up. The net increase
in length of sidings was 13'72 miles.
5'21 miles have been added to the second track.
A 12-stall brick engine house and smith shop has been
erected at Kenova.
In March, 1898, a flood iu the Scioto River caused con­
siderable damage to the roadway aud track on the Scioto
Valley Division. Owing to washouts and submergence of
track the movement of trains over that Division had to be
suspended for several days.
G E N E R A L R EM ARKS.
While there has been a general improvement iu business
throughout the country, the section from which the Com­
pany draws its traffic has not been highly prosperous during
the year. Anticipation of war, and actual war, have
checked the revival of business. Nor has the Company
derived any considerable advantage from the war in the
movement of troops. Under these circumstances the results
of operation for last year are highly gratifying. These re­
sults illustrate the recuperative power of the property, and
confirm the opinion we expressed in our last report, that
tin Company has been organized on a safe and stable basis.
The Company has already derived great benefits from the
expenditures made in putting the property in good condi­
tion, and in providing additional facilities for the economi­
cal handling of its traffic. As a large percentage of the
Company's freight business is of the lower classes, and can
only be secured at rates that leave a small margin of profit,
it is necessary to secure a large volume of freight, and to
reduce the cost of transportation to a minimum. It is
therefore the part of wisdom to continue such expenditures
as will result in a reduction of the operating expenses, and
especially the cost of the movement of freight. The work
of reducing grades, wherever practicable, should be prose­
cuted as rapidly as may be found consistent witli economy.
The rates in the Southern territory have been fairly well
maintained during the year; but rates of freight in the ter­
ritory of the Joint Traffic Association have been and are in
a demoralized condition without precedent in the history of
unrestrained competition. The evil of rate-cutting seems
to have passed from the acute to the chronic stage, and or­
dinary remedies are no lonarer effective. Efforts made from
time to time by the cooperative fast freight lines, of which
this Company is a member, to improve the rate situation by
agreements with their competitors, have invariably resulted
in a diversion of competitive traffic from those lines and a
loss of revenue to this Company.
Congress has adjourned without giving the railroads the
hoped for relief by amending the Act to Regulate Com­
merce so as to permit a division of competitive traffic, im­
properly termed pooling.
On the other hand, Congress did not enact into a law the
Cullom Bill, which was introduced in the Senate at the
last Session of Congress. That bill, if enacted into a law,
would have conferred upon the Inter State Commerce Com­
mission additional and extraordinary powers, including the
power to establish rates on all inter-State traffic.
In compliance with the provisions of the by-laws, Messrs.
Price, Waterhouse & Co. were elected at the first meeting
of the Stockholders to audit the books and accounts of the
Company. Their Certificate is attached to the balance
sheet.
Your attention is invited to the report of the Vice-Presi­
dent and General Manager, hereto annexed. Analysis of
the results shows that the Road has been operated with an
economy and efficiency whicli is highly creditable to the
Transportation Department.
It will be seen that there was an increase in movement of
tonnage of 18 per cent, while the cost of conducting trans­
portation shows an increase of only 0-74 per cent. The
average number of tons of revenue freight per freight train
was 855 tons, notwithstanding the fact that the grades and
curves of the Road are not favorable to the movement of
heavy train-loads and that a large percentage of the freight
car mileage consists of “empties ” The revenue load per
train was further reduced by hauling a large quantity of
ballast on revenue trains.

THE CHRONICLE.

538

|V ol LXMI.

C U R R E N T ASSET S A N D L I A B I L I T I E S J U N E 30,
The percentage of operating expenses was 87T7 per cent
Current Assets,
o f the gross earnings (taxes excluded) In view of the low
average rate per ton per mile (0* eta), and in view of the
*404
C
' S
T
:
$308,939
Adjustment Preferred Stock........:.......
$205,900
liberal expenditures that have been made in the main­ 1,6 0,612 00 Common Stack ...................................... 1,520,000 00
50
00
tenance of the road and equipment, this percentage must
167,850 00 F irst Consolidated M ortgage Bonds___
430,7 0 00
be considered quite low.
$2,217,25000
The officers and employes in all departments of the Com­ $2,397,401 fO
pany's service have faithfully ami efficiently discharged 251,802 50 INVESTMENTS O
C
......
338,002 50
A
R
:
their duties during the year.
* 1S4.765 36 Station Agents .....
By order of the Board of Directors,
1212*9 7 t U. 8. G overnm ent................................... 169,0*9 52
41 Traffic Balances....................................... D-8.772 11
llENHV FINK,
47,095
49.905 68
President.
228,09, 64 Individuals and Com panies..................
207 332 54
om pany s

e c u r it ie s in

in

ccounts

ther

reasury

o m p a n ie s

e c e iv a b l e

$583.178 13
IK C O M E A C C O U N T FOR F IS C A L Y E A R E N D IN G J U N E 30, 189S

32.702 29
570,896 63
7o 178 54
1,719,595 16

B r E a r n in n s :
FrelulU ..................................................$9,300,809 20

P a -, eager....................................................... 1,40' ,--*32 53
Mull ............................................................ 199.360 56
E xpress............................................................ Ia7, 95 83

MIsetllaneous.........................................

114,335 03

$ V 25 731 65
$11,236,123 15
$3,557,642 25
644,304 00

$11,280, <23 15
$3,3 0,021 27
32,963 19

By Balance brousbt down...
“ Dividends, Imereet, etc.

$615.09985
I n s u r a n c e s a n d L ic e n s e s rs A d v a n c e .
M a t e r ia l s a « o S u p p l i e s .......................
C o n d e m n e d E q u i p , A c q d ' d wi t h R o a d .
CASH ..............................

373,969
191,436
60,495
16,0 h4

$3 882 ft -7 46

33 Pay Rolls ................................................
75 Audited Vouchers ..................................
53 Traffic Balances......................................
20 in dividuals and Com panies..................

95.722 47 Equipment R -n o w a l...............................
47,32414 R ail R e n e w a l...........................................
5 ,100 00 C asualty..................................................

$199,046 61
29,256 43 P rofit and L oss : Aeoount.
Inventory Adjustment
459,343 28

2,211,075 25
28,-58 33
4,605 31
4f 4,198 OJ

“

681,750 57
$3,332.9-7 46

C urrent Liabilities.
B alance from C a p it a l Account ........$1,887,645 43
I nterest on F u n d e d D e b t A ccrued ... 641,433 08
A ccounts P a y a b l e :
’

83,761 22 T axes A ccrued ...............................................
R eserve F unds :

$11,236,123 15
To Inter>st on Funded D ebt...........................................
" I merest on Our Trust Certificates and B o n d s ........
“ Advances to Subsidiary Companies written off.___
Dividends,
........................................................
“ Balance, beinu Net Income tor the year oarrled to
Profit and Loss Accoun t........................................

$4,919,52214

$651,995 86

T o O p e r a t in g E x c e s s e s :
Maintenance of W ay and Strnoturea.-.$1,512.977 66
M ainten-noe of Equipm ent. —. ......... J,727,*98 99
Conducting Transportation................. 3,974.471 77
o01,9S6 38
General Expenses.................................
-------------------------- $7,517,314 90
T o T a x e s .................................
338.7*4 08
“ B a l a n c e c a r r ie d d o w n ...........................................
3,350,024 27

S n rid u s.........................................

$5,625,754 65

Surplus carried to G eneral Balance S h e e t......................$1,144,593 85

405,377 90
427.9(8 0 7
7 *. 83 64
25,093 49
$ 9 3 ,1 9 3 70

81,840 95

182.436 30
1 1 3 57 05
29,966 73

$226,81013

1,144,593 85

$4,919,52214

We hereby certify that we hare examined the foregoing
Balance Sheet and relative Income Account- with the books
of the Company, and that we find the same to be correct.
P
, W
& * o . , 'A u t h o r s .
London, New York and Chicago.
September i , 1898.
r ic e

P R O F IT A N D LOSS A C C O U N T .

25,*05 15
730,401 29
57,095 00
935,778 35

aterh ouse

THE WABASH RAILROAD COMPANY.

B r Balance brought forward from Jone 30, 1897......... $159.*4* 28
By Net Income for tlio year ending June 30, 1898..............
684,76057

NINTH ANNUAL REPORT—FOR THE FISCAL YEAR
ENDING JUNE 80, 189S.

T o tal.....................................................................................$1,141,59885

GENERAL BALANCE SHEET JUNE 30, 1898.

B alances
J u n e 30,1897.

C apital Assets.

Balances
J u n e 30, 1898.

A condensed statement, of the operations of your Com­
pany for the fiscal year ending June 30, 1898, gives the fol­
lowing result:
Property......................
8,821,806 80 Rolling Stoat................................. $124,101.070 30 Gross E a rn in g s ...... ......................................................... $13,207,862 43
8 906,387 43

$123,731,319 73

$132,537,126 03

3,246 20

50,75593
Si.581 00
46,448 53

$246,031 72
3,557,542 25

C o st o f R o a d Attn E q u ip m e n t .
Railroad, Franchises and ether

C a p it a l

E x p e n d it u r e s d u r in g
F is c a l Y e a r E n d in g .1u n l 30,

$133,010,45773

New Construction.....................

$220.531 84

Im pr vements and Betterments.
Rolling Stoelt.........................
Branches and Spurs....................

BALANCE CARRIED

down

164,13183
913.'78 9 7
36,752 16

$130,232,70000

C apital L iabilities.

Balances
June

30, 1838.
C a p i t a l St o c k —
$23,600.060 00 Adjust meat P re ferred ...................... $2i,noo,ooo 00
66,009,000 00 Com m on.........................................
66,000,1 On 00

*89,000,000 00

130,6 v5 97

Total Receipts..................................... ....................... $13,383,513 40
Deduct. Operating E x p e n ses.................... $9,304,779 30
Deduct Taxes...... - .................................
499,436 35
Deduct Balance Joint Track Rentals and
Miscellaneous Expenses........................
48S.211 84 10,232,477 49

Ret Earnings applicable to In terest......................... $3,096,010 91
$1,334,59679 Interest on M ortgage Bonds..................... $2,604,045 0 >
1,887,615 43 Rental on Eel R iver R R .............................
90,500 00 2,694,515 00

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

$136,360.700 00

Balances
J u n e 30, 1897.

Miscellaneous Receipts, Interest Dividends, etc...........

$89,000,000 00

F unded D ebtN orfolk A
Petersburg RR. Co.
Pc,-'mu! M nrigagc Bonds.................
1,013,SCO CO South Side RK. Co. Consolidated
Mortgage Bonds ..............
‘Virginia
Tennessee R R Co.:
984.OCOO0
Enlarged M nr'gm ie ■ nntia............
lO.iniiOO
six in r rent Pi if.-i red stock.......
1.000.00t>00
Fourth M ortgage Bonds............ .
496.000 00

A

490,000 00
1,013,30000
985.000 00
10,91.000
1,000,000 0 0

Surplus,.

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

$401,495 91

The details, which will be found in the tables included in
the Auditor's report annexed [in pamphlet], have been ar­
ranged upon a slightly different, plan in the foregoing state­
ment in order to enable stockholders to understand clearly
the disposition of receipts, but the result is the same, namely,
asm-plus for the year over all fixed charges of §101.495 91.
As compared with the traffic- operations of the previous
fiscal year, the changes are as follows:
In Operating Expenses, uu iuc.ruase of.............. ............. 1,325,620 00

In Gross Fam ines, an increase of.....................................$1,681,075 07
In
In
iu
In

i axes, a fleet ease o f ........................ ............................
Ml-ceUanenus R eeipls. an Increase o f .......................
Balance of JnlutTrvck Rentals, an iucreaseof ........
Net, Earnings applicable to Interest., au increase of...

30.184
67,3 1
*0,126
373,ln3

02
31
92
4.8

The i crease in Miscellaneous Receipts is mainly due to
larger dividends on slocks represented in the Investment
Account. The increase in the Balance of Joint Track
2,000,000 00 Rentals is mainly the result of the contract with the Grand
5,000,000 00 Trunk Railway Company, reference to which will be made
in another part of this report.
The surplus
amounting to
600.000 00 Columbus Couueeilng A Terminal 5,000,000 00 $401,495 91, has net earnings toof the year, Profit and Loss
been carried the credit of
K it Co 5 Per Cent Mtge. Bonds..
600,000 00
Aocoti t, in accordance with the vote of the directors,
N o lo'U A W ' stern R ailw ay Co.:
*
23,322,COOOO First Ooii'nllduled .Mortgage Four
which decided that the floating debt of the Company
P e r Cent Bunds................ .............
23,322,500 00 should be paid before dividends could be claimed by
$46,710,700 00
$46,710,700*00 the holders of Debenture Mortgage Bonds. This floating
E
L
- Norfolk & W est­
debt, which, at the close of the fiscal year ending June
ern Railroad t’o.:
$800,000, consisting of notes given
6.000 00 Equipment Mortgage Bondsof 1888
3,000 00 80, 1897, amounted to w-as the result of the payment of
319.000 < 0 Cur Trust Certificates of 189..........
253.00000 for borrowed money,
325.000 00 Car Trust Bonds of 1893............ .
200,000 0 0 interest on the Fust and Second Mortgages during
the fiscal years 1894 and 1895, in excess of net earnings ap­
$61 0,000 00
$622,000 00 plicable thereto. Under the stipulations of the Debenture
*i3 e.3 6 o ,7 o o o o
$136,232,700 00 M o rtg ag e, which cover the question of dividends to litis
7.2*3,000 f O
2,LOO,060 00

Norfolk A Western BR Co.:

General Mte.81s Pei Cent Bonds .
N ew R iver Division F rat-Mortgage
SIX P e r C nt Bonds............
5.000.000 01
Improvement and Extension Mtg.
Six Per Cent Bonds ....... ...
5.000.
000 00 80*01 0 Valley * N e w England RR.
Co First Jiig. 4 Per C» n Bund-...

q u ip m e n t

ie n s

7,283,000 00

S eptember 10, 189?.]

THE CIITCON1CLE.

mortgage, it is provided that the amount applicable to the
payment of such interest “shall be ascertained by deducting
from the gross earnings of said Company all current ex­
penses for operating said railroad and such sums as in the
judgment of said Board of Directors may be necessary to
maintain and renew said road and its equipment and appur­
tenances. and to keep the same in good condition, and to
increase its equipment to such an extent as may be com­
mensurate with its business requirements, and to pay taxes,
rentals, interest and sinking fund instilm ents accrued or to
accrue on any and all mortgages existing on the proper'y
hereby conveyed, and to satisfy all liens and charges thereon
that are or may be prior in equity to this mortgage.”
Under this clause it is clear that the floating debt, which
represents interest payment to the senior mortgages, should
be fully discharged before net earnings can be applied to
dividends on the Debenture Bonds.
But irrespective of the legal obligations of the Company,
as thus interpreted, it is not only sound policy on the part
of the Company to clear off its floating debt, but it is,
beyond question, for the ultimate advantage of the holders
of Debenture Bonds. The possible danger of a floating debt
should not be allowed to interfere with the otherwise prom­
ising and healthy financial condition of the Company.
This explanation of the conservative policy of the Board
of Directors is made to answer inquiries of the holders of
Debenture Bonds, and to justify a postponement of divi
dends, which stiengthens the Company and adds to the per­
manent safety and value of all its securities.
This application of the surplus earnings of the year has
enabled the Company to pay off $400,000 of the floating debt,
which has been reduced to $400,000 at the end of the fiscal
year. W ithin the ensuing six months a large part of this, if
not the whole amount, can be liquidated, and at the end of
the present fiscal year, counting upon a continuance of fair
traffic, it is not unreasonable to expect a complete elimina­
tion of these borrowed-money notes.
The statem ent of floating debt does not include equip­
ment notes amounting to $400,692 4't, which extend over a
period of two years in monthly payments, amounting to
an average of about $18,000 per month during that period.
These notes are charged to operating expenses as they ma­
ture, and will be easily provided for in monthly earnings.
The Act of Congress, which requires all freight cars to
be provided with automatic couplers and air-brakes
compels railway companies to expend about $80 per car
for these improvements. This expenditure has taxed the
resources of all lines severally, and has been especially
oppressive to companies of moderate financial resources,
and it soon became evident that quite a number of them
would be unable to comply with the law. The time was
cansequently extended to January 1, 1900, and this will
probably render compliance with the Act less difficult. The
Wabasli Company will complete its changes in this re­
spect during the next calendar year, and will then be
able to economize in such expenditures. One of the
embarrassments of the change required has been found in
the addition of such an expense to old box cars of com­
paratively small capacity, ranging from twelve to fifteen
tons, which are being displaced by those of so-called
standard capacity of thirty tons. Many of these old cars
have seen so much service that it would be a waste of
money to add the automatic couplers and air-brakes
required by the law. The Company has therefore been
compelled to provide new cars in their stead more
rapidly than would have been necessary under former con­
ditions. Recognizing however, the humane features of the
law, railway companies have been anxious to meet its re­
quirements with as little delay as possible, and the subject
is only referred to here in order to account for larger expen­
ditures for rolling stock during the last fiscal year. The
opening of the Buffalo Division has also obliged the Com­
pany to add considerably to its motive power and passenger
equipment. Reference to the report of Vice-President and
General Manager Ramsey, herewith submitted, will give
more complete information on this subject, and such de­
tails as may be considered essential to a correct understand­
ing of the policy which has governed the management in
meeting the requirements of the case.
Your attention is also directed to Mr. Ramsey’s report in
reference to further improvements in the physical condition
of the track, in the substitution of heavy steel rails for
those of lighter weight, and such expenditures in the de­
partment of maintenance and repair as have appeared
necessary to carry out plans for putting the lines of the
Wabash into the best physical condition attainable.
Whoever studies carefully the railway situation in this
country will be led to the conclusion that under the fierce
competition of lines multiplied at a rate far beyond the
rate of increase in the volume of traffic, those which are in
the best physical condition, and provided with rolling stock
of approved design and enlarged power and capacity, will
stand the best chance of securing traffic. Box cars of
modern standard are much preferred by shippers and are
more conveniently and economically handled. The scanty
profits now available to transportation companies at the
prevailing rates render it necessary to study economy
in every direction, not only in the movement of (rains and
in the motive p uver, but in the improvement of tracks.
It is not difficult to understand that in the rectification of
lines and in the removal of heavy grades, as well as in pro­

539

viding a smooth and solid track, we add to the capacity of
the motive power, secure greater speed, greater safety and
greater economy. In short, it is a self-evident proposition
that the railway companies which are able to adopt the
most approved methods of operation, with machinery of the
best make and modern design, and tracks of substantial
construction, will meet the peculiar conditions of railway
traffic in this country with the best promise of success.
In our last annual report, reference w s made to a tem­
porary arrangem ent made w ith the Grand Trunk Railway
Company of Canada, under which two passenger trains were
run daily, each way, between Buffalo and Detroit. This
experiment was satisfactory enough to encourage the mana ement to further negotiations w th the Grand Trunk
Company, and the result was an agreement covering a
period of twenty-one years, which gives the W abash the
joint use of the tracks between Windsor, Buffalo and Niagara
Falls for both passenger and freight trains, and also the use
of the ferry between Windsor and Detroit. Arrangements
have been completed, also, with the Erie Railroad Company
for the use of its line from Suspension Bridge to Buffalo, and
its passenger station in that city. In connection with these
terminal facilities at Buffalo an agreement has been made
with the Lehigh Valley Railway Company for the use of
yards for the convenient handling of freight. These ar­
rangements appear to be sufficient to handle the traffic of
the line.
The trains began running under the new agreement March
1,1898 and the result, thus far, has been quite satisfactory.
The additional tra+ic contributed to the lines of the system
between Detroit, Chicago, St. Louis and Kansas City would
alone be of great advantage to the Wabash Company, but
there is good reason to anticipate, besides, a fair profit above
the rencal on the traffic between Buffalo and Detroit.
The stockholders will be asked at the annual meeting to
approve and authoriz ■ the construction of two short lines
between Hannibal Mo., and Quincy, 111., about sixteen
miles, and between Moulton and Albia in the S at >of Iowa,
a distance of about twenty seven miles. The construction
of these two links will save about twenty-four miles of dis­
tance between St. Louis and Des Moines, la., and give the
Wabash, by way of the Hannibal Bridge, the shortes . line
between Quincy and Kansas City, and the amount saved in
rentals of other roads now used jointly to reach the same
points will offset the interest on bonds Issued for the con­
struction of the new lines. The transfer of the property
now held by the Purchasing Committee will, at the same
time, add to the Wabash system, the Des Moines & St. Louis
Road, of about sixty-seven miles, extending from Albia
to Des Moines. Although opposed, as a general proposition,
to the construction of any new lines of road, these short
links have seemed imperatively necessary to the proper de­
velopment of the present system, especially in view of the
retention of the Des Moines & St. Louis Line now to be
turned over to the Company by the Purchasing Committee.
Railway Companies in the United States are still strug­
gling with the difficulties of unregulated competition, and
while there has been manifest improvement in the volume
of traffic, and consequently a fair increase in net profits,
it is still quite evident th at the rate problem is as far from
a satisfactory solution as ever. It is not so much a question
of what the rates should be as how they can be maintained
when agreed upon, and against this obstacle the companies
involved are constantly stumbling, much to the embarrass­
ment of associated lines, and to the discontent of shippers.
Congressional relief, which can be furnished by legislative
amendment to the Inter-State Commerce Law, has hitherto
been sought in vain, and the railway interests of the coun­
try have thus been jeopardized by a neglect which it is diffi­
cult to comprehend or excuse. The complicated m ichinery
of inland transportation is allowed to work under laborious
and unsatisfactory conditions, to the exclusion or indefinite
postponement of improvements in harmony with the pro­
gressive spirit of the times, and yet public clamor is at once
aroused if there is the least failure in service or in the accom­
modation of travelers. The severe trial to which railway prop­
erty has been subjected has had one good effect; it has devel­
oped economical methods of operation in many directions and
thus enabled the lines to move an enormous volume of freight
at a rate which, but a few years since, would not have paid
running expenses, but which now yields a small, although
inadequate profit. Another favorable feature has been in­
fluential in partially relieving these corporations from the
consequences of intense competition and meagre profits.
This is to be found in the condition of the money market,
which has made possible the readjustm ent of interest ob­
ligations as old mortgages have matured, or as bankrupt
companies have been reorganized. The substitution of
4, 41 and 5 per cent annual interest for 6 and 7 per cent ob­
ligations has saved enough in fixed charges to neutralize a
fair share of the reduction in rates of transportation, while
the superabundance of capital has rendered its employment
difficult except at the lower range of interest rates, and thus
a great change has been brought aboiit in the finances of
railway companies, which, to that extent, compensates for
the diminshed revenue of the operating departments.
Looking to the future growth and prosperity of the coun­
try, and the close connection of the transportation interest
with that expansion, it is to be hoped that Congress will see
the necessity of removing useless restrictions in the InterState Law, in view of a senseless and uncontrollable compe-

540

THE CHRONICLE.

tition, which, while encouraging unjust discrimination,
cripples railway enterprisi limits railway extrusion, and
renders it impossible to continue improvements which the
public goal derninds.
Perhaps it is not an over--sanguine anticipation to expact
in the near future a more intelligent comprehension of this
subject on the part of the people whose interests are so
closely identified with transportation. When this tim e
arrives the voters of the country will be anxious to remove
obstacles which stand in the way of progressive develop­
ment. It will then be recogniz’d tnat the country itself is
the chief sufferer from laws which discourage legitimate
and healthy enterprise and contrast the area of employ­
ment.
It is always gratifying to recognize the share of the offi­
cers and employes of the company in contributing to its
successful operation. The results given in this report are
largely due to their loyal and faithful cooperation in all the
departments of administration.
For the Directors.
0. D. ASHLEY,
President.
N e w Y ork. August. 189S,
United Electric Securities Co.—Securities Purchased.—
The company has expended §72,683 in the purchase of its col­
lateral 5 per cent bonds, as follows : Fifth series, $10,030 at
100; seventh series, $3,000 at 99“a: ninth series, $46,010 at
101 •57: tenth series, §13.000 at 90 -40. The report of Aug. 1,
1898, was in V. 67, p. 480.
West V irginia Central & P ittsburg By.—Listed in Balti­
more.—The Baltimore Stock Exchange has listed an addi­
tional $150/09 first mortgage bonds, making total amount
listed to date $3,350,003.—V. 67, p. 478.
Wheeling & Lake Erie Uy. - C oupon P a ym en t. —Notice is
given bv advertisement of the payment announced last week
ipage 4-83) of a vear’s interest on the three loans underlying
the consols.—V. 67, p. 488.
Wisconsin C entral—Litigation.—The committee repre­
senting the joint improvement bonds filed a bill of complaint
on S-pr. 5. praying that the first and second mortgage issues
of the Wisconsin Central KB. Co be treated as if retired
until the improvement bonds are lully paid ; also for the re
tirement of alleged indebtedness, evidenced by eleven prom­
issory notes aggregating §1,100,000. They also asked for a
stay of the foreclosure proceedings under the two mortgages
aforementioned (see V. 67, p. 276).—V. 67, p. 424, 435.
York Southern RB.—Contest for Possession.—The North
era Central By. has filed a suit in equity to stop the sale of
the York Southern bv President W arren F. Walworth to
Daniel F. Lafean, C. C. Frick, H. C. Niles, H. H. Weber, C.
H. Dempwolt, M, H. Houseman, George K. McGaw and
Charles I. Nesbit. By the terms of an agreement between
Mr. Walworth and the Northern Central it is alleged that that
geutleman's controlling interest should have passe I into the
hands of the latter some time ago. It seems possible that
the recent pnrebasers acted in the interest of the Baltimore
<& Ohio,—Y. 67, p. 488.

% \xc

[VoL. l x y u .

C o m m ercial J im e s .

COM M ERCIAL

EPITO M E.

F riday N ight , Sept, 9,1898.

Early in the week only a limited volume of business was
transacted. The observance of a holiday on Monday, Labor
Day, together with a continuance of the hot weather experi­
enced last week, served to retard business operations. Thurs­
day found a most agreeable chauge in climatic conditions,
and daring the past two days trade has improved; in fact in
some lines of merchandise there has been an approach to
activity in the trading, as bnyers who have held back await­
ing cooler weather have bsgun operating. Favorable prog­
ress is reported being made for a successful culm ination
of the Minnesota Iron-Illinois Steel consolidation. There i s
also a report that renewed efforts are being made, and wit h
a fair measure of success, for a consolidation of the tin plate
in’erests. Tne removal from power of the Chinese M inister,
Li Hnng Chang, has received some attention, as bearing upon
the Anglo Russian situation in the Far East. The victory of
the Anglo-Egyptian forces over the Dervishes and the cap­
ture of Omdnrmun has been a feature of the week.
Lard ou the spot has had a slow sale for Western, but city
has bean in moderate demand from refiners. Offerings have
been fairly free and prices have declined. The close was
steady at a partial recovery from bottom prices, with prime
Western at 0'2ac. and prime City at 5-OJc. Refined lard has
had a fair sale, bat at easier prices. The close was steady at
5‘60c. for refined for the Continent. Speculation in lard for
future delivery has been quiet. Early iu the week prices
were lower under moderate offerings, prompted by yellow
fever reports. Subsequently, however, buying by packers
turned tne market steadier, and prices advanced.
IJAM.y CLOSING PRICES OF LARD FUTURES.

September delivery

Sat.

o. H ’d’y

\foa.

H ’d’y

Tues.
5-02

Wed.

5*45

Tfiurs.

5 30

Fri.

5*25

Pork has been in fair demand and prices have held to a
steady basis, closing at $9@$9 50 for mess, $11 o0(t{$12 35 for
family and $11 25@$ 13 00 for short clear. Ctttmeats have
had a fair sale and prices have ruled firm, closing at 6L£@7j-<c.
for pickled bellies, 12@10 lbs. average,
for ptekfed
hams and 4@4j4e. for pickled shoulders. Bsef has been in
fair demand and steady at $S50^$9 for mess, $9«$9 50
for packet, §10@$11 for family and $14@$15 for extra
India mess. Beef hams have weakened to §31 50. Tallow
has held steaiy at 33jC. Oleo stearine has been steady at 5c.
Lard stearine has declined to 6c. for prime City. Cotton seed
oil has b e n quiet but steady at 22*^c. for prime yellow.
Butter has been in fair demand and firmer, closing at 14J^@
i9o. for creamery. Cheese has been easier but the close was
steady at 6@?4£c. for State factory, full cream. Fresh eggs
have been in fair demand and the close was firm at
16c, for choice Western.
Brazil grades of coffee have had only a small distributing
sale, the observance of a holiday early in the week by the
local trade and holidays on Wednesday and Thursday by the
primal markets holding business in check. The m arket for
invoices has been quiet but steady, neither buyers nor sellers
showing a disposition to operate. Rio No. 7 on the spot has
been steady at 6%C. The speculation in the market tor con­
tracts has been quiet and changes in prices have been un­
important. Mild grades have been dull bat steady at 9 L @
4
9t£e for good Client a. E ist India growths have sold slowly,
closing at 24>.<c for standard Java. Following are final
asking prices:

—The regular September number of the “ Street Railway
Journal ’ has been made a souvenir of the Boston Conven­
tion of the American Street Bulway Association, and is an
unusual publication in size, in typographical appearance,
and in the character and quality of its reading matter. We S e p t ................... 5'45<j. |D o o .......... — 5'75o. I A p r il................. 6'05e.
call attention to the following articles : “ Street Railway JJov................... 5'65o.o.I M.Tan................... O’tOu. [IJ uayy ............... (i'lOc.
O a t................... o '
............
5’e5o. M
ar
l ......... ..... 6-25c.
Conditions and Financial Results in Metropolitan Boston,”
an article devoted to a financial analysis of thirty-one sub­ Raw sugars have been in demand and sparingly offered,
urban and inter urban Btreet railway properties in and closing firm at i% ‘. for centrifugals 96-deg. test and 8 13-16C.
about the city of Boston: “ The Boston Subway”; “ The for muscovado. Refined sugar has been advanced 1- 6c.,
Proposed New Electric Elevated Railway in Boston.” The closing with the demand fairly active; granulated 5J^c.
issue contains about 14" piges of reading matter and 269 Mol tsses more active. Spices firm. Teas dull.
pages in the advertising department, in which over 350 Kentucky tobacco has been quiet bat offerings have been
advertisers are represented. The advertisements embrace small owing to light, stocks and prices have tieen firmly main­
about thirty pages from European manufacturers.
tained. Seed leaf tobacco has been in fair demand and firm.
for
—The Reorganization Committee of the Wheeling & Lake Salescrop.the week were 3,525 cases, as follows; 1,100 cases
1897
New
Havana seed,
to
1,000Erie Railway Company first mortgage (Lake Erie Division) cases 1896 crop, York State Havana seed, 11 15 13c.;19c.: cases
Wisconsin
to
400
bonds. George Coppell Chairman, gives notice to the holders 1897 crop, Wisconsin Havana seed, 5 to 10c., &c., &e ; also
of certificates of deposit for above Honda that conpons which 450 bales Havana at 60 to 90c. iu bond, and 150 bales Su­
became due October 1 and April 1 last upon such of the
85c. to
above bonds as were deposited with the Guaranty Trust Com matra at tin has §1 70, in bond. sale, and as offerings have
Straits
had a fairly large
pany of New York, having been paid and surrendered, the not tteeu excessive values have held steady, closing at 16‘15@
Guaranty Trust Company of New York will pay over to the 16-SOc. Ingot copper has been in active demand for export,
holders of the respective certificates of deposit the amount of but the home trade has bem limited ; prices nave held firm
interest collected upon such conpons upon presentation of at 12l£c. for Lake. Land has declined, but at the lower
such certificates of deposit.
prices business has been more active, closing a t4 -65@4 07$gc.
—Clarence H. Wildes & Co., 36 Wall Street, have issued a for domestic. Spelter has been sparingly offered and prices
circular with regard to tne bonds of the Chicago Burlington have advanced to 4'85@4'90c. for domestic. Pig iron has nad
& Quincy RR. Co. The circular contains five large pages a fair sale at steady pricts, closing at $9 75@ jll 50 for do­
and furnishes much information in attractive form.
mestic.
Refined
lias
in
—The Empire State Idaho Mining & Developing Co. has bbls . 4c inpetroleum 7'15c.been steady, closing at 6’50c. at
bulk and
incases; naphtha unchanged
declared a monthly dividend of 1 per cent, payable on Sept. 6c. Grade certificates have been quiet, closing at 997£c.:
15 The net earnings of the company for July and August, credit balances have been unchanged at 81. Spirits turpen­
it is said, were over 2 per cent par month.
tine has advanced, owing to an active export demand, closing
—Eanis & S'oppani. 34 New Street, New York, are dis­ firm at 81(a3l}^c. Rosins have been quiet at $1 27j^@$i 30
tributing free on application a special letter on Brooklyn for common and good strained. Wool has been quiet but
steady. Hops have been in fair demand and firm.
Rapid Transit stock.

THE CHRONICLE,

S eptember 10, 1398.]

541

In addition to above exports, our telegrams to-night also-

following amounts
on shipboard, not
F riday N ig h t , September 9, 1898. give us the the ports named. of cotton similar
cleared, at
We add
T h e M ovement of th e Cr o p , as indicated by our telegrams New York, which are prepared for our special use figures for
by Messrs.
from the South to-night, is given below. For the week ending
C

O

T

T

O

N

.

this evening the total receipts have reached 14,661 bales, Lambert & Barrows, Produce Exchange Building.
ON SHtPBO ARD, NOT CLEARED FOR—
against 32,230 bales last week aud 40,273 bales the previous
week, making the total receipts since the 1st of Sept., 1898, Sept. 9 at Great
Other Coast­ Total.
66,060 bales, against 117,3)8 bales for the same period of
B ritain. France. Foreign wise.
1897, showing a decrease since Sept. 1,1898, of 51,298 bales.
1,976
4,473
None.
6,3 49
None.
Mew O rleans...
Receipts at— Sat.

Mon.

Wed. Tdurs. Fri.

TU C 8.

6,158
........
2,061
136
......
778
......
145
........
134
......
277

5,403
241
3,061
165
......
4,033
203
455
........
233
3
321
103
113
249 157 457 819
52
......
Baltimore.......
65
13
Tot. this week 5,472 11,415 5,536 9,961 7.188 15,092
Galveston........
Tex. City, &e.
New Orleans...
Mobile.............
Florida............
Savannah........
Bruns w’k,&c.
Charleston......
Pt. Royal.&c.
Wilmington,...
Wash’ton, &c.
Norfolk...........

6,613
......
2,637
267
......
527
......
496
........
71
......
804

3,333
......
270
203
......
552
......
109
........
45
......
847

3,116
1,268
76
......
277
......
80
........
156
14

4,696
........
364
62
......
645
......
333
........
136
......
432

Total.

29,619
241
9,661
959
6,812
203
1,618
775
3
2,745
103
1,795
52
78
54,664

L eaving
stoek.

21,703
None.
700
200
2,500
4,200
1,400

50,338
24,767
13,915
4,505
5,851
928
42,153
15,406

4,947

37,057

157,893

7.413
9.503

24,004
103,724

113,474
245,330

Galveston........
Savannah........
Charleston......
VIoblle.............
Norfolk............
New Y o r k ...... .
Other ports___

7,053
None.
200
200
None.
1,000
500

6,089
None.
None.
None.
None.
200
None.

5.619
None.
None.
None.
1.000
3.000
900

2,947
None.
500
None.
1,500
None.
None.

Total 1898...

10.829

6,239

14.992

Total 1897...
Total 1896...

3,376
48,034

6.163
10.440

7.052
35.747

Speculation in cotton for future delivery has continued
quiet and the net change in prices for the week is unim port­
ant. Local operators have shown an unwillingness to make
new ventures, both buyers and sellers as a rule holding off
awaiting developments. Foreign advices have also reported
the same apathy existing in speculative circles abroad. Cropdamage reports have been received from Georgia, Alabama
and North Carolina, due to the excessive rainfall. It is now
generally conceded that the condition of the crop has deter­
iorated in these States. Many of the trade, however, be­
lieve that the prospective decreased yield in the A tlantic
States
fully offset by larger crop in
Conse­
The following shows the week’s total receipts,the total since quentlywill be reports of crop adamage have hadTexas.a limited
only
Sept. 1 ,189S, and the stock to-night, compared with last year, amount these
of influence upon values. A strengthening feature
1897.
Stock.
1898.
during the latter part of the week was the belief that the
Receipts to This Since Sep. This Since Sep.
monthly Government report would show a decline of about
Sept. 9.
1897.
8 to 9 points in the average condition; in anticipation of such
toeek. 1, 1898. week. 1,1897. 1898.
a report there was some buying by shorts to cover contracts.
36,783 31,526
42,960
G alveston... 29,619
34,841 Lwerpool the past few days has reported a fairly active
46,475
241
384
663
241
Tex. C.,&c.
spot market, and this has had some influence in favor of
10,397 30,036
9,661
33,897
58,687
N e w Orleans
17,398 prices.
Saturday the market was easier under limited offer­
1,049
959
2,168
2,431
6,081
M o b ile ........
3,689 ings, largely for foreign account, closing 3 to 5 points lower
for the day. Monday, Labor Day, was a holiday. Tuesday
20,533
13,915
6,812
8,823 17,764
Savan n ah ...
23,098 there was a dull, narrow market, and prices barely changed
203
203
563
294
413
B r ’wiok.&o.
563 throughout the day.
Wednesday there continued a slow
6,876
Charleston..
3,618
1,843
5,916
5,205
7,052 market. The only feature of interest being limited buying
P. Royal, Ac.
by a few shorts to cover contracts, stimulated by talk of a less
5,991
6,311
Wilmington,
775
855
6,728
7,157 favorable Government report.
Thursday the market was
moderately active. Foreign advices were stronger and were
3
3
5
5
3,361
1,143
1,256
N o rfo lk ......
2,745
3,428
687 accompanied by a limited number of buying orders.
The crop damage reports from the Atlantic States were
147
226
N ’port N.,Ae
103
103
391
394
48,353
42.857 accompanied by buying orders, and there was some buying
4,300
B o sto n .......
2,236
789
938!
1,250 by local shorts to cover contracts. Selling orders were re­
1,795
To-day the
52
B altim ore. .
52,
25
85
2,818
378 ported received from New Orleans and Texas.
Philadel, &o.
in
150
150
2,668
78
1,508 market was weaker, under selling for Liverpool against
acceptances of firm offers from the South. New Orleans was
T otals...... 54,664
66,080 96,849 117,3581 194,9501 140,473 also a seller.
The close showed prices 5 to 7 points lower for
The spot market
Tuesday; ad­
In order that comparison may be made with other years, the day. 1 16c. on Thursday. declined l-16c. on quiet and un­
vanced
The close was
we give below the totals at leading ports for six seasons.
changed ; 5 1316c. for middling uplands.
Receipts a t— 1898.
1894.
1897.
1896.
1895.
1893.
On the basis of the rates on and off middling as established
by the Revision Committee, the prices for a few of the
G alves’n,&e.
29,860
31,907
11,801
19,49 J
39,753
14.333
grades would be as follows:
N e w Orleans
9,671
30*036
37,012
22,919
13,115
7,978
3,804
23,057
19,662
10,002
13,207
20b
3,030

1,5 42
12,975
4,992
714
603
173
1,819

5,031
22.097
13,218
2,941
1,648
216
1,289

3,100
19,716
3,263
935
2,111
139
2,021

Tot. this wk.

54,664

96,848

154,785

47,539

83,884

53,703

•lnoe Sept. 1

66,060

117,353

216,902

61,3 LI

127,230

84.871

The exports for the week ending this evening reach a total
of 22,671 bales, of which 16,88) were to Great Britain, 423
to France and 3,563 to the rest of the Continent. Below
are the exports for the week and since Sept. 1, 1898.
from —
G a lv e sto n ........
T ex . C ity, Ac..
N ew O rlean*..
M obile. ...........

Week Ending Sevt. 9,1898. From Sept. 1,1898, to Sept. 9,1898.
Exported to—
Exported to—
Great France C onti­ Total Great France C onti­ Total.
BriVn.
n en t. Week. Britain.
n e n t.
7.452

8,362

408

1,055
45

8,507

4" 9,160
0> 45

17,305
8,352

409
.........

1,055
45
400

18,130
45
9,110

S a v a n n a h .........

UPLANDS.

GULP.

S T A IN E D .

B a ltim o re ___
P h ila d e lp h ia ..
8 a n F ra n ., Ac.
T o ta l............. 16,685
T o ta l. 1807.... 12,84!

15

423
3.472

8,030
21
982

3,808
143
1,003

733
127
21

15

6,563 22,671
3.076 1S.890

26,598
13985

428
7.146

6,07o
21
P82

6,819
148
1,003

8,573
4,346

35.594
25 47?

Xh.

5%
6
67,*

4*fl
551
6
5%
6
67, a

49,e
53e
51*1*
61,6
6^

S at.

Low M iddling...........................
M id d lin g ................................
Good Middling T in ge d ............

O
J
T
3
3
O
a

uck

4*
5»is
6
6%
6ii |«

4^
55,*
.5
6
67,«

\

59 8
4
6 l,e 8
6!*

W ed

T il.

4%
5® tp
6
6%
6H , £

4l3l6
£L3' 8
5%
5%
,6‘ n
h l ie
63,3
So1
9
6%
6%

n o il X ues W ed

4*e |
55i* ! Holi5i7,2l day.
5% 1

F ri.

4%
4%
55,6
55,6
51133 5 Is
5%
5%

F ri.

X ll.

F ri.

4316
5%
519:i.
513,e

4-hs
53g
510, 2
51*16

The quotations for m idlling upland at New York on
Sept. 9 for each of the past 32 years have been as follows.
1898. . . . 0 .
1897 . . . .
1896.
1895. . . . .
1894.
1893 . . . .
1892. . . . .
L891. . . . .

5 1 318

7%
8%
8%
73„
8

\

11 8 8 2 ... .0.1213,3 1 8 7 4 ..—o. 3 . 0 %
1800. ...0.1058
1881... ..12%
1873........20%
1889. ........ 1 1 %
1888. ...... 10?,6 11880... ••111*16 1872........22
1887.
1879...
1871........20%
1886. ...... 9 *4
1878... -.11%
1870........19%
1869........31
1877....
1885. ...... 10
1868....... 27 *s
1876 ... -11 0,6
1884. ...... 10%
1867........26
1883. .........10^8
i 1875.... -1 4 % 3
M ARKET AND SALES.

S cot M a r k e t
C losed.

733
127
21

n on T u e , W e d

S a t . i i?Ion T

4ood O rdinary......... ...............
Low M iddling...........................
Middling...................................
Good M iddling................... .
Wlddlirur F air........ ...............

P o rt R o y a l....
N ’p o rt N., Ac..
New Y ork ........

S a t.

Good O rdinary.........................
Low Middling..........................
Middling...................................
Good M iddling.........................
VfMrtHuv Fair ..

Holiday.

2,168
17,764
5,916
5,996
1,143
147
1,771

3 # -£■ f» V
J

959
6,812
1,618
778
2,745
10 J
2,128

-*
a

M o b ile ........
Sav an n ah ...
Ohas’ton, < o
fe .
W ilm ’ton, < e
fe
N o rfo lk .......
N . N ew s, &o.
A ll others...

F utures
M arket
C lo sed .

Satu rd ay.. Quiet at liedeo. Quiet...........
..H oi
Q u iet................ Q uiet_______
8 teadv........ ... D u l l . ..........
Steady at i ^ a d . Ste a d y........
Q u ie t................ S te a d y ........

T uesday...
Wednesday
Thursday..
F rid ay ......
Total ...

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

Sales

of

3 po t < C o n t r a c t .
&

E x­ 0 on- 0 onport. sum p. tract. Total.
101

350
451

839

738
544
1,147
610
132

400
100

944
1,247
960
132

3,171

500

4,122

54:2

T H E C H R O N IC L E .

F utures.—The highest, lowest and closing prices
Futures at \V* Vers t<-e mown m the following table.
■
A
<
->
0
a
0
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325,000
70.000
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194,950
U nited States Interior stooks . 111.133
2.021
United States exports to-day
. 1,37b, 007

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1896
1898
1897
1895
Stook at L iv e rp o o l.......bales.
750,00C 133.00C
451.0001.,115.000
4.000
B took at L o n d o n ..................
5,000
4,000
S.Oia,
T otal G reat Britain stook.” 754,000 443,000 458,000 1,153.001
Stock at H a m b u rg ...... ........ .
20.000
19,000
32,000
3 l,00t
Stook at Brem en ................. .
128.000
63,000
79,000 171,001
5.000
13,00<
Stook at Am sterd am .......... .
2,000
1,000
300
200
200
20<
Stook at R otterd am .............
2,000
14.001
Stook at A n tw e rp ...................
9,000
13,000
75,000
130,000
131.000 32a O b
5,000
4.000
4.001
6,000
Stook at M arseilles................
52,000
56,000
56,001
Stook at Baroelona..... .........
61,000
27,00(
Stook at G en oa.......................
22,000
32,000
18,000
19,000
14,000
34,000
S i.OOr
Stook a t T rieste......................
T otal Continental stooks.. 386, iOO 287.100 3 79,200 67 i.iiOU
T otal Eurim ean stooks— 1,140,300 710,200
837.200 l,828.20f
20,000
In d la oo tton a floa tfor Europe
37,000
33.000
32.OU0
48.000
70.000
88.000
20.000
Arner.ootton afloat fo r Europe
18.000
Egypt.Brazil, &o.,atit.for E'pe
23.000
9,000
11,000
Stook in United States ports . 195,950 110,478 348,054 207 191
78.338
170,011
43 275
Stook In U. S. Interior towns.. 111,133
3,871
2.821
9.23 7
12,250
U nited States e r ports to-day.
T otalviB lble s u o p l)......... 1,579,207 I,0 U ,8 9 0 1.191.505 2,251,916
O f the above, totals or A m erloan an d other descriptions are as follow s:

American—

n t e r io r

0

T
V
U orros oo-m gnc, as m a d e up b y
cable and telegraph is as follows. Contiaeutal stocks, as w< il
as those for Great Britain and the afloat are this week’s re­
turns and consequently all European figures are brought down
to Thursday eroding. But to make the total the complete
figures for to night (Sept. 9), we add the item of exports from
the United States including in it the exports of Friday only.
he

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I
T
the movement—that is the receipts
for the week and slnoe September 1, the shipments for the
week and the stooks to-night, and the same items for the
aorresponding period of 1897—is set out in detail below.

o

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3
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H O IT D A Y ---

(VOL, I XV 11

330,000 335,000 1,020,01 0
20 ',000 20 1,000 581,0-0
18,000
83,000
20,000
313, OM
207,IP1
110,478
170,011
43.275
78,338
3,874
9,237
12,250
802,690 1,215,305 1,986 716

Mast In d ia n , B rasil, Aa.—

73,000
103,000
119.000
125,OOt
4.000
5.000
4,000
8,00i
.
61,300
65.200
114,200
89.201
.
37,000
20,000
33,000
32.00<
18,000
23,000
9,000
14.00*
Total East India, A o ......................... 203,300
218,200 279,200 288 2
Total A m erican ............... 1,375,907 802,890 1,215,103 1.986,716
Total visible s u p p ly ......... 1,579,207 1,018.890 1,191,505 2 ^ 5 L 9 1 8
4*ed
M iddling U plan d, L iverpool..
3ysad
listed.
1®3jll,
7L)C.
M iddling U plan d, N e w Y ork.
5L>ieO
8^0.
S le .
613oq 1
1
5d.
15led.
«q d .
E g yp t Good Brown, Liverpool
eqd.
6islad.
Peruv.Rongh Good, Liverpool
flbsd3 1 6.,3 d .
Id .
Wind.
Broach Fine, Liverpool.........
*>ed.
l*in d
T lnnevelly Good, L iverp ool..
3263J(1
3B32d.

London stook...... ..........
Continental stooks........
India afloat for Europe.

The imports into Continental ports the past week have
been 24,000 bales.
The above figures indicate an increase in the cotton in sight
to-night of 560,317 bales as compared with the same date
of 1897, a gain of 84,702 bales over the corresponding date
of 1896 ana a decrease of 675,709 bales from 1895,

©vOM £ © a ©

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•
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O

• Last year’s figures are for Colum bia, S. C.

The above totals snow that the interior stocks have
increased during the week 9,408 bales, and are to-night 32,795
oales m ore than at the same period last year. Toe receipts at
all the towns have been 39,140 bales less th in tue same
week last year and since Sept. I they are 55.*7 > bales less
than for the same time iu 1897.
Overland

Mo v e m e n t

W

S i n c e S e p t , 1 .—

vVe give below a statem ent showing the overland movement
for the week and since 8ept. 1, as made up from telegraphic
reports received Friday night. The results for the week
ending Sept. 9 and since Sept. 1 in the last two years are
as follows.
September
(

for t h e

eek and

1897.

1898.
9.

hipped—

Via St. L o u is .......... .
Via C a iro ...................
Via P a r k e r ................
Via Rook island........
Via Louisville............
Via Cincinnati..........
Via other routes, Ao.

Since
Week. Sept. 1

„

Since
Sept. 1.

,

Veek

1,625
822

3,593
9 >8

1,196
362
107

177
730
621

177
805
791

9
36
301

1,386
385
333
" T i

68
109

Total gross ov e rla n d .............

3,975

6,328

2,0 U

2,595

Overland to N. Y ., boston, Ao.
Between interior tow ns......... .
Inland, Ao., from So nth...........

1,925
15
526

2,390
15
768

1,358
7
611

1,567
7
928

Total to be dednoted...........

2,466

3,182

2,000

2,502

Leaving total net overland*

1.509

3,144

deduct shipm ents—

93

' Inoludlug movement by rail to Canada.

The foregoing shows that the week's net overland movement
:his year has been 1,509 bales, against 5 bales for the
vaek in 1897, and that for the season to date the aggregate net
iverlaud exhibits an excess over a year ago of 3,051 bales.
fn

S ight a n d Spinners'
T a kings.

ieoelpts at ports to Sept. 9 ------fe t overland to Sepf. 9 ..............
lontbern consumption to eept. 9
Total m a rk e ted ..........
nterlor stooks In exoess.
O am elnto a ig b td u rln g week
Total in sight Seyt. 9........... N irth ’n splnnerstak'ga to Sept. 9

1898.

1897.

Since
Week. SepL 1 .

Since
Week. Sept. 1.

51,661
1,509
26,000
82,173
9,403

66,060
3,144
30,000

96,848
5
21,000

117,358
93
36,000

105,204 117,853
7,014 28,448

153,451
33,262

91,576

146,301
112,218

12,522

12.522

186,713
21,053

29,290

S eptember

10, 1898. |

T H E C H R O N IC LE,

548

Meridian, Mississippi.—Picking has been retarded by bad.
QUOTATIONS FOB M ID D L IN G COTTON AT O T H E B M AR K ETS —
Below are closing quotations of middling cotton at Southern weather and the crop is reported to have been damaged by
and other principal cotton markets for each day of the week. too much rain. Thermometer has ranged from 63 to 94.
Little Rock, Arkansas—There has been rain on one day of
»LOSING QUOTATIONS FOR MIDDLING COTTON O N the week, the rainfall reaching fifty-two hundredths of an
Week ending
inch. Average thermometer 80, highest 96, lowest 56.
Sept. 9.
T uts. Wednes. T h u n .
E
Satur.
M on.
Helena, Arkansas.—Crop conditions are not improving;
G alveston ..
57is
5 6
sjie
57ia
57,6
5’ is
the weather has been too cool for two or three days. We
N ew Orleans
530
56,6
5%
5°ie
5° 1
6
5%
have had rain on two days of the week, the rainfall being
50,
50,
50,
5*4
50,
M o b ile .......
5q
one inch and thirty hundredths. The thermometer has
5i«
5^8
S avan n ah . .
5^8
5%
531S
•pie
5
5
5
5
Charleston..
5
5
averaged 73, the highest being 89 and the lowest 51.
5M
5H
50,
Wilmington.
5%
5*4
50,
Memphis, Tennessee.—The latter part of the week has been
5^8
5»
558
Norfolk".___
5=8
56s
5^
5i3l6
quite cool. Cotton is opening fast. The week’s rainfall
53-[
5isle
55*
B oston ........
5»a16
6
6
6
6
6
has been one inch and forty hundredths, on one day. The
Baltim ore...
6
6
6
Philadelphia
6
6*ie
r ,611«
thermometer has averaged 78'7, ranging from 56 8 to 93.
5T 6® T
5Ta
5?16® ^
Augusta......
5^16
Sh e
Nashville, Tennessee.—Rain has fallen during the week to
5H
50,
5*4
514
Memphis___
5%
16:6
533
538
53s
the extent of ninety-four hundredths of an inch. The ther­
538
8t. L ouis___
53s
571
6
53g
53a
H o u ston ___
51,8
fT s
mometer has ranged from 51 to 93, averaging 72.
5'ia
51,6
55*
53,
53,
53,
53,
53,
Cincinnati..
Mobile, Alabama.—Reports continue to indicate damage to
5bj
5^
50,
54i
5*2
L ouisville...
5*16
the crop from rust, rot, worms and shedding. Rain has fal­
The closing quotations to-day (Friday) at other lmportai t len on two days of the week, to the extent of eighteen hun­
Southern markets were as follows.
dredths of an inch. Average thermometer 81, highest 90,
N ashville
53, I Columbus, Miss 43,
Athens............
lowest 66.
N atch ez.........
| E n fa u la ... . . . . .
A t la n t a .........
51,6
» sn
Montgomery, Alabama. — Picking is general. We had
43,
R a le ig h .......... .
502
C harlotte........
50, I Little R o o k ....
rain on three daj s during the early part of the week, the
5
1M ontgom ery...
Shreveport___
Columbus. G a.
W
R
by T elegraph.—Advices to us by tele precipitation reaching thirty-seven hundredths of an inch,
but the weather
dry since.
thermometer has
graph Irom the South this evening indicate that there has averaged 80, the has beenbeing 92, and The lowest e-8.
highest
the
been too mneh rain in portions of the Atlantic States the past Selma, Alabama.—Crop accounts are less favorable; the
week, rt-eulting, it is stated, in damage to the crop. Further
becomes
daily.
of
injury from inst, rot, worms, etc., is also claimed in Ala­ deteriorationwill be lessmore pronounced We haveTne yield on
this section
than last year.
bad rain
bama and to a limited extent in Mississippi. Fiom otter one day during the week, to the extent of five hundredths of
sections reports are as a rule favorable. Picking is now quite an inch. The thermometer has averaged 75, ranging from
general and has made good progress.
to 93.
Galveston, Texas.— Daring the last day or two conditions 60Maaison, Florida.—Much damage is stated
have improved somewhat. The worms and other pests are done the crop as a result of excessive moisture. to have been
We
more under control, though in parts of Central Texas they on six days during the week, with a precipitation had rain
have done damage. The fair weather has enabled pickers inches and ninety hundredths. The thermometer has of five
ranged
to catch up and much has been accomplished in that direc­
averaging 81.
tion. Reports are still conflicting as to actual damage done from 70 to 92, Oeorqia. It has rained on four days of the
Savannah,
by worms, though there is no question that they are g*ner week, to the extent of three inches and forty-four hundredths.
ally under control now and no Inrther damage is anticipated. The thermometer has averaged 81, the highest being 91 and
Picking is progressing rapidly all over the State. There has the lowtst 71.
been rain on two days of the week, the precipitation reach­ Charleston, South Carolina.—There has been rain on five
ing five hundredths of an inch. The thermometer has days of the week, the precipitation reaching ninety-nine
ranged from 69 to 88. averaging 79. August rainfall three hundredths of an inch. The thermometer has ranged from
inches an t seventy hundredths.
to 89, averaging 82.
Palestine. Tex as.—There has been rain on one day of the 70Stateburg,
Wet
past week, the rainfall reaching four hundredths of an inch. greatly with South Carolina.—it is weather has interfered
claimed, seriously dam­
Average thermometer 76, highest 94, lowest 58. August aged cotton. picking, and has,on five days of the week, to the
Rain has fallen
rainfall three inches and eighteen hundredths.
inches and ten
Huntsville, Texas.—There has been rain on one day of the extent of two highest 90, lowest hundredths. Average ther­
60.
week, to the extent of forty-one hundredths of an inch. The mometer 78-2, South Carolina.—The week’s rainfall has been
Greenwood,
thermometer has averaged 77, the highest being 94 and the one inch and sixty-three hundredths, on four days. The
lowest 59. August rainfall four inches and nineteen hun­ thermometer has averaged 76, the highest being 85 and the
dredths.
Dallas, Texas.—P. has rained on one day of the week, the lowest 67. North Carolina.—It has rained on
Wilson,
precipitation reaching eighteen hundredths of an inch. The week, the precipitation reaching two inchesfour days of the
and
thermometer has averaged 75, ranging from 55 to 95. Aug­ hundredths. The thermometer has averaged 80,sixty-four
ranging
ust rainfall eighty-two hundredths of an inch.
San Antonio, Texas.—We have had no rain during the from 64 to 90.
The followmgstatement we nave
week. Minimum temperature 66. August rainfall two inches ghowing the height of the riversalso received by telegraph,
at the points named at
and eighty three hundredths.
Luting, Texas.—We have had rain on one day during the 3 o’clock Sept. 8. 1898, and Sept. 9, 1897.
week, the precipitation being five hundredths of an inch.
Sept. 8, ’98. Sept. 9, '97.
Average thermometer 79, highest 93, lowest 65. August rain­
Feet.
Feet.
fall forty hundredths of an inch.
50
4 1
Columbia, Texas.—There has been rain on one day of the New O rlean s......
Memphis............
7-1
4-2
Jlashvllle............
week, to the extent of ten hundredths of an inch. The Shreveport..........
2*0
1*5
1*9
*0*4
thermometer has averaged 78, the highest being 90 and the Vicksburg...........
12*7
60
lowest 66; August rainfall six inches and forty-nine hun­
dredths.
Cuero, Texas.—There has been rain on three days during I ndia Cotton M ovement from a ll P orts .—The receipts
India port*
the week, to the extent of eleven hundredths of an inch. of cotton at Bombay and the shipments from all from Sept. 1
for the
S-pt. 8, and for the season
The thermometer has averaged 82, ranging from 68 to 95. to Sept.week endingyears have been as follows:
8 for three
August rainfall one inch and twenty-seven hundredths.
Brenham, Texas.—Rain has fallen on two days during
1897.
1898.
1896.
the week to the extent of five hundredths of an inch. The Receipts at—
Since
Since
Since
thermometer has ranged from 63 to 97, averaging 80. Aug­
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
ust rainfall three inches and seventy-six hundredths.
Corpus Christi, Texas.—W e have had rain on five days of Bom bay......... 3.000 3,000 2 ,0 0 0 2,000 10,000 13,000
the week, the rainfall reaching forty six hundredths of an
For the Week.
Since September 1.
inch. Average thermometer 79, highest 86, lowest 73.
Weatherford, Texas.—We have had no rain the past week. Exports Great Conti - _ . , Great Conti­ Total.
from —
B rita in , nent. Total. B rita in .
nent.
The thermometer has averaged 76, ranging from 56 to 95.
August rainfall one inch and nineteen hundredths.
Bom bayNew Orleans, Louisiana.—We have had a rainfall of sixty- 1890......
5.000
5.000
1897
.................. 1.000
three hundredths of an inch on four days during the week. 1896 .................. 5.000 5.000
1.000
1.000
1.000
8,000
6,000
8,000
6,000
Average thermometer 82.
Oaloutta—
Shreveport, Louisiana.—We have had light rain on one 1898 .................. 1,000 1,000
1,000
1,000
day during the week, the rainfall being seventy-one hun­ 1896 .................. 2,000 2,000
2,000
1897
..................
2,000
1,000
1,000
1,000
1,000
dredths of an inch. The thermometer has ranged from 56 Madras—
to 93. averaging 79.
1898
..................
Columbus. Mississippi.—There has been no rain during the 1897 ..................
week. The thermometer has averaged 81, the highest being i l1896......
l others—
98 and the lowest 62.
2,000
2,000
2,000
2,000
Leland, Mississippi.—The week's rainfall has been one inch 1898..
3.000
1,000
4.000
4.000
3.000
1897..
1,000
2.000
1,000
3.000
3.000
and seventy-five hundredths. The thermometer has averaged 1896..
2.000
1,000
77-3, ranging from 02 to 93.
Vicksburg, Mississippi.—We have had only a trace of rain Total a ll—
8,000
8,000
8,000
6,000
during the week. The thermometer has ranged from 55 to 1 8 9 8 .. .. 1,000 8,000 10,000 1,000 11,000 7,000
7,000
6,000
1 8 9 7 ..
..
1,000
12,000
9,000
1 8 9 6 ..
. 1,000
94, averaging 77'5.
11

m

h

eather

eports

THE CHRONICLE.

54 4
A L E X A N D R IA

RECEIPTS

A lexan dria, Soi/pt,
Septem ber 7,

Beeelpta (oantare-.) __
This w e e k ___
Since Sept. 1__ ____

AND

SHIPM ENTS

1893.

OF

1897.

4.000
4.000

A
C
C
S
.— In a Supplement
accompanying this issue of the C
will be found our
1898.
annual crop statement, with the usual facts and Information
with regard to consumption, &o.
15 000
16,000
G
W
C
R
. — Mr.W. L. Moore,
This Since Chief of the Weather Bureau of the Agricultural D epart­
week. Sept. 1. ment, made public on Tuesday the following telegraphic
reports on the crop in the Southern States for the week
1.000 ending Sept. 5 :
COTTON.-

10,000

i o .ooo

This Since This Siyice
%eeek. SepL l J week. Sept. 1.

!

arket

1898.

1897.

hirt-l Oott’n „ „ ^
8 H Ibi. S hirt­ OotPr
Oop. ings
M id. \ 32* Oop. ings, common M id.
Tw%st,
"to fin e st. XTptds Twist.
T......
to fin est. Upid:
n

[s '* li>«. 8
common
|
:

d.
a.
Aug.5I D “ 8 t s e i i n
“ 12
!51'-ie3>ek)
“ 19
26 5*3 0 6 *ie
flop. 2 5%
“ 9 '5 3
o
96m

s. 4 .
a. <i.
* 0 1 * 0 6 7*3
41
9 6 7>a

>59)6 <3638 44 Okiae 6*3
7
0 96
40
'4 0

06 6%
0 6 6M

<.
1
d.
3is3*6 i3
3M |67ia
3% 6*8
36,a 67, 6
311.33 6%
39-i2 6 6 , a

d.
® 7mp
®77ie
»7 7 ,e
9738
»7 M
97M

o.
4
4
4

a.
49S2
4*3*2

d.
s. d.
2is® 6 8
2L)®6 8
2 96 8
4
2 96
4 l i g ® 6 7%
4 1 4 ^ 6 7*s

7H

4 3;s2

4o32
4®3a
-lb!

Amount in S ight . —Supplementary to our Annual Ootton
Crop Report, and at the request of a m rnbsr of readers, we
give below a tible showing the amount of ootton which came
in sight during each month of the cotton season 1897-93.
For purposes of comparison similar results for the three
preceding years are appended.
M onths.

1897-93.

1896-97.

1895-98.

Septem ber..........
O otob^r.--. . . . . .
N o v e m b e r ...___
D ecem ber.........
J an u a ry ..............
F e b ru a ry ............
starch..................
A p ril .......... ......
M a y ....................
Jun e..................
J u ly ........ ...........
A u g u s t...........
Addition b* .........

1,069,800
1,871,654
2,337,112
1,950,210
1,342,94,5
868.483
667,177
334,799
217,161
163 695
117,407
152,164
38,353

1,222,287
1,891,562
1,634.210
1,549,705
680,513
464,730
378,297
216,724
183,218
74,994
58,139
168,806
190,826

542,394
1,722,122
1,321,097
1,336.030
617,924
483,175
351,525
245,732
165,406
106,677
67,011
278.-184
175,404

663.703
2,114,130
2,187,667
1,961,988
973,789
579,062
588.749
335,051
149,254
70,493
58,962
59,187
150,431

11,180,960

8,714.0' 1

7,162,473

9,892.768

Total c r o p .....

1894-95,

■ “ Additions" include all corrections in port receipts and overland
made at lit- close of the season, as well as the excess in Southern
-consumption, as shown ny the actual results. This total is increased
or decreased by iuterior town stocks. In the season just closed there
was a largo increase in Interior stocks from ihe total of Sept. 1, 189?.
In 1896-97 a heavy decrease occurred. In 18»5-96 stocks were added
to.
t Deductions.

J
B
,-B
, & .— There has been a fairly good
demand for jute bagging during the past week, but quota­
tions are unchanged at OlgO. for \% lbs. and 6*£c. for 2 lbs.
of standard grades. Car-load lots of standard brands are
quoted at 61jc. for \% lbs. and 6>.<c. for 2 lbs., f. o. b., at
New York. Tbe market for jute butts has been quiet.
Quotations are nominally '80c, for paper quality and lQc.
for nailing.
S ea I sland Cotton Movement,—We have received thi
.(Friday) evening by telegraph from the various ports tbe
details of the Sea Island cotton movement for the week. The
receipts for the week ending to-night iSept. 9) and since
Sept. 1,1818, the stocks to-night, and the same items for the
■ corresponding Kwtods of 1897, are as follows,
ute

utts

R eceipts to Sept.

a g g in g

c

1897.

1898.

T h is Since 17H i Since
week. Sept. 1. week. Sept. l.

9.

Stock.
1898.

1897

66

78

88

103

5,952
1,195
16

6,420
917
152

66

S a v an n ah ...... ................

Florida, <to.....................
TotaL.........................

70

88

103

7,163

7,489

Theexporta for the week ending this evening reach a total
of 15 bales, of which — balea were to Great Britain, 15
to France and — to Rsval, and the amount forwarded to
Noithern mills has been 192 bales. Below are the exports
for the week and unoe September 1 in 1898 and 1898-97.
E xp o rtt
from —
Savannah...
Cli arl’t'n.Ao
Florida, Ac.
N e w Y ork..
B o sto n .......
Balt., <to—
T o t a l . ___
Total 1897..

Week E nding Sept. 9. Since Sept. 1 , 1858. N orth'n M u t.
G reat S r'n e t Total. Great F r’ncc Total. Week. Sinct
B riVn. dc.
B ril'n . dc.
Sept A
_____

__ Trr

15
__ . . .

15
........
........

15

15

__ TT.
_____
___ „

........

........
........
15

......

........

15

158
34

208
84

........

........

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

15

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

otton

overnment

to-night from Manchester states that the market is steady
for yarns and dull for shirtings. Merchants are not willing
to pay present prices. We give the prices for to-day below
and lea e those for previous weeks of this and last year for
comparison.
„„

nnual

hop

tatem ent

h r o n ic l e

exports (bales)—
To Liverpool .......
3.000 3,000
To Continent!____ 11,000 11,000 7,000 7,000 1,000 2.000
Total Europe___ 14*000 14,000 i 7,000 7,000 1,000 3,000
• A oantar Is 98 pounds.
M
M
. - —Our report received by cable
anchester

[Vol. LXVII.

15

192

292

......

......

10

10

......

_____
—

eekly

otton

eport

V i r g i n i a .— W eather favorable for maturing crops: ootton poor.
N o r t h o v b o h s i . - D amp, sultry weather, unfavorable; ootton s u f­
fering from rust, shedding, rotting, and sprouting in open bolls; it is
opening rapidly; picking progressing slowly.
S o u t h C a r o l i n a .— Continuous rains nave canaed opening ootton to
rot and sprout in the bolls; cotton picking general but w e ath e r un­
favorable; from 6 to 1 2 inolies of raiu fell la Barnw ell, H a m p ton and
Beaufort counties, Hooding large areas and destroying inuott cotton.
GkoitGlA,—Another week of almost continuous rain has added
greatly to the dam age to nearly all crops; oottou ts rotting, sh eddin g
and sprouting and boll worms are increasing; much ootton a lre a d y
picked is sprouting,
F l o r id a .—E xcepting heavy rains over western portion, which
caused considerable dam age to crops, the week has been favorable for
farm work; ootton opened ra p id ly and picking active.
A l a b a m a .—T oo much rain, except In north-central and north-west
counties, continuing dam age to cotton by rust, rot. and shedding;
some complaint o f boll worths, caterpillars, and bolls sprouting, pick­
in g beooming general, but quality poor and prospective yield below
average.
M i s s i s s i p p i .— Cotton deteriorated considerably since last report;
many complaints of shedding, rust, rot, worm s, and w eedy grow th
seriously dam aging cotton; picking progressing rap id ly where not Im­
peded by heavy rainfall; some fe w favo rable reports o f cotton re­
ceived.
L o u is ia n a .—W arm days, cool ulglita, rain fall ligh t in northern hut
heavier in southern portions; coiton opening ra p id ly and less dam age
from worms, shedding and caterpillars, except some southern parishes
where caterpillars are very Injurious; picking progressing with yields
generally below average.
T e x a s . - E xcept local showers, weather fav o rab le fo r cotton pick­
ing, which progressed rapidly iu all sections; boll worms, caterpillars
and sharpshooters continue to damage co-ton, but not so much as In
previous week; rain needed for late cotton and top crop, which Is
shedding fruit on acoount of hot, dry weather.
A r k a n s a s ,— H ot, dry weather has caused ootton to open rapidly In
all sections, picking not general on aooountof extreme heat, b u t Is
progressing as weather permits; fe w isolated reports of dam age by
worms, rust and shedding.
T e n n e s s e e . - G ood rains 1 st and 2d over large portion of eastern
and middle sections, heavy in eastern, light showers in jiortiou of
western section, elsewhere dry, and late crops Buffering; cotton open­
ing rapidly, picking in full progress.
O k l a h o m a . - Cotton-picking general; yield not up to expectations.
M is s o u r i .—C otton opening rapidly; picking begun.

These reports on cotton are summarized by the Depart­
ment as follows:

Cotton baa suffered seriously from rust, shedding, and insects over
the eastern portion of the cotton belt, from w hich sections numerous
reports of rotting and sprouting are also received, especially in G eorgia
and tho Carolinas, where the rainfall has been exceptionally heavy.
In Louisiana and Texas reports of shedding and dam age by insect?
are leas numerous than iu tho preceding week. In the last-nam ed
State rain la needed for late cotton and the top crop. Ootton is open­
ing rapidly In all districts, and picking is progressing fav o rab ly over
the central and western portions, but has been retarded b y rains In
portions of the eastern seotion.
N
E
C
M
S
.— Curtailment of
production at Fall River has been further extended the past
week, nearly three-quarters of a million spindles having been
idle. The cotton mills of Lowell, Mass., are threatened with
an enforced shut-down for a few days, the back boys in each
mill having started a movement for a general strike for the
restoration of the old schedule of wages. The N am quitt
Cotton Mills of Bristol, R. 1., started np on September S
after having been idle since August 3.
S
News.—As shown on a previous page, the
exports of cotton from the United States the past week have
reached 22,071 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
ew

ngland

otton

il l

it u a t io n

h ip p in g

Total bales.

New

Y o r k —T o Liverpool, p er steamers Aurania, 532......
Taurle, 101.............................................................................
To Hull, per steamer Francisco, 100......................................
To Havre, per 8 teanier L a Touraine, 15 Sea Island..............
To Bremen, per steamers Barbarossas, 2 ,0 -1 0 ___ Lahu, 100.
To Ham burg, per steamer Bulgaria, 200................................
To Genoa, per steamers Fulda, 245
Piequa, 2u0............
To Naples, per steamer Fulda, 100........ ..............................
To Trieste, per steamer Powhatan, 175.................................
N e w O r l e a n s — T o Liverpool—Sept. 0 —Steamer Am erican,
8.352............................... ........ ...............................................
To H avre—Sept. 5 —Steamer H ighland Priuce, 408.
To H am burg—Sept. 2—Steamer Hellas, 400...........
G a l v e s t o n —To Liverpool—Sept. 3—Steamer CapeUa,__________
. ______ 7,452___
To Antw erp- 8 ept. 8 —Steamer Hose Castle, 1,055..............
C o r p u s U iir is t i , A c .—To Mextoo, per railroad, 45
Bosto n —T o Liverpool—Sept. 6 -S te a m e r Lancastrian, 127___
To St. John, N. B .—Sept. 6 -S tea u ie r St. Croix. 2 i ..............
altim ore — To Liverpool—Aug. 3 1 —Steamer Templemore, 21
To Bremen—Sept. 3 -Steam er Elizabeth Rlckmers, 5 4 9 ....
Sept. 8 —Steamer Willehnd, 433..........................................

B

033
100
15
2,140
200
4 i5
100

175

8,352
408
400
7.4*2
1,055
45
127

21
982

Total........................................ ................................................ . 22.671

The particulars of the foregoing shipments, arranged in
our usual form, are as follows.
N ew Y ork.
Orleans.
Galveston.
Oor, C., &c.
B oston ....
Baltimore.

S.

Great F rench Qer- ^-Oth.JTrope—. Mexico,
B riV n. ports. m any. North. South. dec. Ja p a n . Total .
733
8,352
7,452

15
408

........

720

3,808
9,160
8,507
45
148
1,003

LOSS
45
21

‘ ‘127
21

T o t a l.... 16,685

2,340
400

982
423

3,722

........
1,055

720

68

........

22,671

Cotton freights at New York the past week have been
as follows.

THE CHRONICLE.

S eptember 10, 1898. J
Satur.

Mon.

Tuet. Wednes. Thurs.

F ri.

545

steadier market. The free export purchases the past few

days stimulated a demand from shorts to cover contracts, and
151
15t
15t
151
.Liverpool........... c. 15t
the close showed prices
higher for the day. To-day
%
%
%
%
Havre................. c.
%
the market was fairly active and higher in response to stronger
251
251
25
251
Bremen.............. c. 251
foreign advices, expected less favorable Government report,
25 i
251
251
251
Hamburg........... c. 25t
continued buying by exporters, and a demand from snorts to
301
301
301
301
Amsterdam........ c. 30<
cover contracts. The close showed prices l^@ l% c. higher
—
—
—
a
Reval, v. Hamb..e. . . . .
for the day. The spot market was fairly active. Exporters
....
....
....
Do v.Brem’n.c.
were buyers, the purchases here and at outports amounting
a
331
331
331 331
Do v. Hull.-.c. 331
to 384,000 bushels.
a
301
301
301
30i
Rotterdam......... c. 301
DAILY CLOSING PRICES OF NO. 2 RED WINTER WHEAT.
301
Sat. Mon. Tuts. Wed. Thurs. F ri ,
301
301
30t
Genoa................ d. 30t
663s
.0
66%
69
67%
September delivery-----e..
321
32f
32t
321
Trieste................d. 321
6538
65*2
66%
65%
Deoember delivery...... e.
%
%
%
%
Antwerp............ d.
%
67
66%
M ay delivery.
67%
68%
M
5"o
b32
Ghent,v.Antw’p.d. 612
6S2
B32
Indian com futures have continued to receive only a lim ­
t Cents net p er 100 lba.
ited amount 'of speculative interest. Tuesday there was a
L iverpool .—By cable from Liverpool we have the follow­ firmer tone to the market and prices advanced slightly on

ing statem ent of the week's sales, stocks, &c., at th a t port. predictions of frosts in the corn belt, following the appear­
ance of a cold wave’in the Northwest. Wednesday the mar­
A ug. 19. A ug. 26. Sept. 2. Sept. 9. ket was weaker ; prices declined 5gO. under moderate offer­
The predicted
47,000
.f 9,000 ings, prompted by favorable crop prospects.
54,000
32,000
Sales of the w eek......... bales.
1,100
2,200 frosts fail to materialize, and sympathy with the decline
2,200
800
Of which exporters to o k ...
800
1.300 in wheat also had a weakening influence.
1,600
Of which speculators took.
----Thursday the
53,000
42,000
50,000
30,00<.i
8a,es A m e ric a n .....................
The export business has been fairly
3,000
3,000 market was steadier.
4,000
5,000
Aetna export........................
active. To-day prices advanced %@%c. on reports of severe
50,000
49,000
41,000
40,000
Forw arded..............................
790,000
750,000 weather in the corn belt.
843,000
814,000
Total stock—Estim ated.........
The spot market was firmer. The
710,000
672,000
Of which American—Estm ’d 761,000 733,000
19,000
12,000 sales for export here and at outports were 425,000 bushels.
16,000
22,000
Total import of the w e e k ......
18,000
28,000
22,000 1

Of which Am erican............
Am ount afloat........................
Of which Am erican............

12,000
31,000
24,000

15,000
34,000
30,000

10,000
52,000
4S.000

DAILY CLOSING PRICES OF NO. 2 MIXED CORN.

September delivery___.0.
o.
Deoember d eliv e ry ... 0.
M ay d e liv e ry ............ C.

Sat.
p

Mon. Tues.
J*
^
E

35
35%
37%

Wed. Thurs. F ri.

343s
34%
37%

34%
34%

35

35%
cj
e
37%
37%
The tone of the Liverpool m arket for spots and futures
each day of the week ending Sept. 9 and the daily closing Oats for future delivery have been dull. Early in the week,
prices of spot cotton have been as follows.
in sympathy w ith weaker advices from the West, due to a
large crop movement, and following the decline in wheat
Sat'day. M onday. Tuesday. Wed’day. Thursd’y F riday values, prices eased off a fraction. Subsequently, however,
Spot.
! the loss was recovered, a fairly good cash trade being the
Fair
Good
Fair
Good
Market, )
Increased business business business business
Quiet.
| strengthening feature. Exporters were moderate buyers.
request.
1:45 P. M.j
doing.
doing.
doing.
doing.
| To-day the market was firmer, in sympathy with the ad­
M ld .U p l’dR
3»<W
3*32
3*32
3*32
vance in wheat and corn. The spot market was firmer.
3*32
36ie
Sales for export were 50,010 bushels.
12,000
10,000
10,000
12,000
10,000
5.000
Sales...........
300

Speo. & exp.

F utures.

1,000

t

Quiet at
2-04 de­
cline.

Quiet.

M arket, (
4.
M. J

Barely
steady.

M arket,
1:45 p . m .(

P.

1,000

500

500

500

Quiet.

Quiet at
partially
1-64 dec.

Quiet.

Steady at
1-04 ad­
vance.

Quiet but
steady.

Steady.

Quiet.

Steady.

Barely
steady.

Hon.

T oes,

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of Uplands, Low Middling
clause, unless otherwise stated.
Sept. 3 to
Sept. 9.

S a l.
12%i

P.M .

W ed.

Thnrs. Fri.

1 1:45! 4 1:45] 4 1:45 4 1:45
P. M. P.M. P.M. P.M. P.M. P.M. P.M.

4

1:4.-

P.M .IP. M

4
P.M.

\ d. d. \ d. d. d. d. d. i. i. d. d. 1 .
Septem ber..,3 11 3 11 3 11 3 I I 3 11 3 11 3 11 3 10 3 11 3 11 3 11 3 10
Sept.-Oct....I i 09 3 09 13 093 09 3 09 3 09 3 09 3 0 - 3 09 3 1 3 10 3 09
<*
O ct.-N ov---- 3 O'
3 07 3 073 07 3 07 3 08 3 07 3 07 3 07 3 08 3 09 i 07
Nov-.D ec. .. 3 00 3 06 3 063 0613 06 3 0“ 3 ( 6 3 06 3 08 3 07 3 07 3 06
•
D eo.-Jan .... 3 08 3 Oh 3 06 3 06 3 06 3 07 3 0 3 06 3 06 3 07 3 07 3 06
<>
Jan.-Feb___ 3 0 « 3 06 3 06 3 06 3 06 3 07 3 06 3 06 3 06 3 07 3 07 3 06
Feb.-March 3 07 3 07 3 07,3 07 3 07 3 07 3 07 3 07 3 07 3 08 3 08 3 07

M oh.-April..
A p ril-M a y ..
M ay -in n e...
June- J u ly ..
-July- \n<r...

3
3
3
3

08
09
09
10

3 08 3 07
3 09 3 03
3 0913 09
3 10 3 10

3 08
3 09
3 09
3 10

3 08 3
3 0/3
3 09 3
3 103

OS
0
.4
10
10

4 Ofl 3 08 3 03
3 09 3 08 3 09
3 09 3 09 3 09
3 10 10 3 10

3

3 09
3 09
3 10
3 11

3 09
3 09
3 10
3 11

3 08
3 08
3 10
3 10

DAILY CLOSING PRICES OF NO. 2 MIXED OATS.

Hat.

September delivery___ c.H ’d’y

Mon.

EL’d’y

Tuet.

21 >2

Wed. T hurt.

24%

24h

fr i.

25%

Rye has been in moderate demand and firm. Barley has
been more freely offered and prices have been easier.
The following are closing quotations:

FLODP.
Fine ......................$2 15 a 2 25
Patent, w in te r___ .53 50 3 3
dnperflne.................... 225®3 55
City mills, extras . 4 50 3 4
i Fxtra, No. 2 .............. 2503 2 70
Rye flour, superfine 2 40 3 2
Extra, No. 1 .............. 27033 00
Buokwheat flour....................
! C lea rs......................... 30033 30
Corn meal—
! Straights.............
3 25 34 00
Western, etc____ _ 2 05 3 2
Patent, Spring...... 4 25 3 4 75
2 15
. .
_
_________
[W heat flour In sacks sella at prioes below those for barrels.

Brandywine .

Wheat—
o.
Hard Duluth, No. 1. 72 3
Red Winter, No. 2.. 69% »
H ard Man., No. I ......... .3
Northern, No. 1 .. . 69% a
Oats—M ix’d, perbsh. 24L a
W h ite .................... 25 3
No. 2 m ixed........... 25% 3
No. 2 white............ 28 3

90
75
90
10

GRAIN.

73
71%
71%
26%
35
26%
29

Corn, per bush—
o.
W '
“ estern m 'ixed.......... 34%®36'h
*
No. 2 m ixed...............34% 336%
Western Y e llo w .........35%®37%
W estern W hite............35%®37%
B yeWestern, per b u s h ... 50% 352
State and Jersey........ 46 3 51
B arley—W e s te rn ....... 43 351
F e e d in g ......................33 3 3 4

The movement of breadstuffs to m arket as indicated in tiestatements below is prepared by us from the figures col­
lected by the New York Produoe Exchange. The receipts at
Western lake and river ports for the week ending Sept. 3, and
since Ang, 1, for each of the last three years, have been as
follows-

B R E A D S T U F F S .
F riday , Sept, 9, 1898.
ye.
Only a very moderate volume of business has been trans­ Receipts at— Flour. Wheat. Com. Oats. Barley.
190!i«
acted in the market for wheat flour. It would seem that the Chicago...... Sbls. 00,309 Bush.QOlbs Bush.5Qlbs Bush.S'ilbs BushASlbs Bu.56 Ibn,
prices now rnling were on a sufficiently low basis to appear Milwaukee.. 86,' 00 1,054,821 2,949,300 3,230,401 414,985 113,7040
174 850
active to buyers and stimulate some buying for investment Duluth...... 254,225 1.345,570 101,850 258,000 195,200 37.8 1
50,321
14,423
83,651
14,900
account. Jobbers as a rale, however, showed no especial Minneapolis.
1,040 1.414,730
93,70*
302,700
......
confidence in the situation and with few exceptions have
271,155
10,822
1,029
050,955
113,852
confined their pnrchases to such supplies as have been needed
028
30,202
5,500
176,031
21,158
40.425
to meet current wants. The export business has also been Detroit......
172,291
on a limited scale only. Rye flour has been quiet but prices St. Louis .... 39,015 05,677 444,580 195,740 3,750 2,800
have been unchanged and steady. Corn meal has sold slowly Peoria........ 10,700 529,041 401,800 172,950 17,250 - 6,000
18,700
190,500
Kansas City.
and prices have ruled slightly in favor of buyers.
925,000
214,000
48,000
Speculation in the market for wheat futures has been quiet, Tot.wk/98. 409,144 0,550,878 4,840,191 4,017.051 040,713 : 90,639
and the tendency of prices has been towards a lower oasis. Same wk.’97. 292,712 0,193,032
537,833
4,334,906
The crop movement in the Northwest has continued large, Same wk.’96. 259,690 0,110,987 10,111,908 4,390,012 351,716 394,870
2f 3,497
8,387,219
foreign advices have been weaker, and early in the week a Vince Any. 1.
much larger increase in the visible supply than was generally 1898............ 1,592,542 21,712,824 20,230,850 19,380,491 1.225,561 1,109,151
1897............
1,735,494
expected had a weakening influence. At the lower prices 1890............ 1,317,452 27,337,004 35,451,872 20,707,289 1,340.984 1,983.111
822,4fS
1,454.800 22.595,554 19.747.444 IP, 110,2*0
exporters have been fairly large buyers, and this gave a
steadier tone to the situation during the latter part of the The receipts of flour and grain at the seaboard port* for tba
3, 1898, follow
week. Saturday and Monday were observed as holidays in week ended Sept. Flour. Wheatt Corn, Oats, Barley. Rve,
the local grain trade. Tuesday the market was easier; Receipts at—
biwh.:5 hush.
bhis.
bush.
bush.
9
prices declined %13>gC. The principal depressing fea­
109,425
828,000
832,450 l.S3«,075
242.781
1,500
725
280,751
48,527
464,202
04.480
tures were an exceptionally heavy movement of the
101,050
50,425
725,310
58,798
107,010
crop in the Northwest, a larger increase in the visible
113.259
60.9^8
09 550
65,421
’ 40,725
126,784
971.600
84,430
528.171
supply than was generally expected and easier foreign Richmond..
714
30,810
32,400
2,175
5,140
35,140
Vew Orleant
advices. Wednesday there continued a quiet market Charleston.,
203,250
4 3,118
4
14,402
J
8,000
03,000
9,934
and prices showed a slight further loss for the distant de­
43,000
15,000
42,000
40.000
liveries. Early in the day shorts bought to cover contracts,
2.030
20,000
5*4,000
and for September delivery prices advanced lc. from Tues­
207.914
Total week.......
day's final price. Subsequently, however, the full-crop Week 1897............. 443/94 2,060/93 4,819,504 1,555,129
307.538
401,195 4,670,138 5,140,471 2,965,503
movement and quiet and easier foreign advices prompted * Receipts do not Include grain passm through New Orleans for fore’«n
freer offerings, and prices declined. Thursday there was a orts on through bills of lading !

THE CHRONICLE.

546

[LX VII.

Total receipts at porta from Jan. 1 to Sapt. 8 compare at higher grade fabrics. Cotton-warp and cotton-mixed lines
are dull. Overcoatings and cloakings inactive. D -ess goods
follows for four years:
1896.
1890.
1897.
Blankets dull
1899.
12.773,814
17.4:0,414
6,7v4,328 10.0U2.085 irregular in price, with moderate sales. with moderate but
H our..*...........
prices maintained. Flannels steady
de­
47.784 ,r 85 37.841,5*8 23.0*3,200 mand.
. 7*.243.762
W h eat.............
SO OS4 t*nM
1611,81*
143,9-10,^2 137 825.0* 0 t8.tio .n i
**
Oats .......... ...... " <k\05v,«5i» 64,428.1*10 46.114.401 20 891 Domestic Cotton- G oods.—The exports of cotton goods
1.4-8
7.2J10.
4.921,377
S,Wi1,«l7
Burley................
314,4-47 from this port for the week endihg September 5 were 4,853
0,836,225
2.848834
9,8i3,flCU
Bye...... ...............
their
82,301.443 packages, valued at 1174,570,below : destination being to the
. *« S95.7fl3.879 344,0?0 160 148.650,410
Tot*l grain...
points specified in the tables
The exworts from the several seaboard porta for rhe week
1898.
1897.
ending Sapt, 3. 1898, are shown In the annexed statem ent:
N
Y
S
. 5.
R o c s ip t s <tf—

Gem
btwh.
94' .rti8 713,905
Boetoov....... 876,940 808.488
S3,i.V4 220,033
Baltimore .... 184.800 4" 1,498
Hew Orleans.. 819 891 233.8(3
Norfolk.- .... 40.i 00
42,000
Newu’rt ...... 154.376 43.000
MontrealNews 8f3.il-6 677,804
Galveston .... tW.OkO 19.010
Charleston
Total week..2.644.953 2,510,491
3ame timeT47.6.164,994 4,119 890
E x p o rts fr o m

Outs,
flour, b u s h .
bbU.
80.892 271.523
38.197 195.883
‘i37.248 1.848
1.760
2.^80 20,250
2,080
15.090 265.081
45,04(5
9,934 ........
251,7»*9 753,979
281,513 1 140,979

Peas,

The destination of these exports for the week and since
September 1, 1898, is as below.
W eek
S e p t.
bbU.

The
granary at the principal points of accumulation at lake and
seaboard ports. Sept. 3, 1898, was as follows:

B a r le y •
JRVfi.
bush.
bush.
5,0ui
87,000
44,000
40,000
92.00C
397,000
9,000
303.000
509,000
02.00U ' 14,000
446.066
LOGO
2,080
10,001
5.000
06,000
29.00i
1,307,000 ' 43,000
8 54.066
245,000 232,000
25,000
3 8 3.666
68.000
25,CH0
6,000 ” 2,000
3.000
323.666 205,000 19,000
30,000
1,000
370.000
7.000
4,000
3 *,000
8,000
Toronto*....... .
80,000 278.000
11,000
36.000
Montreal............ 134.00*'
5,070
70 000
. c
Philadelphia..,.,.,.
235.000 199.000
1.000
Peoria .. .......... 452.000
‘ 16,000
10,000
76.000
Indianapolis ........
10,000
528 000
£7,000
97.000
KatinasoCity......... 734.000 949.000 224.000 46.000
B altim re. . . . . . . ..
621.000 122.000
Minneapolis ......... 970.000
27.000
1( 2,< 00
On Mississippi—... 1.728.000 1,166.000 1,1135,000 300,000 2(,00<
On Lakes,.... Rive
2?, ooo
On canal and river. 42,000 1.360.000
30,000
7.147.000 16,854,050
658 000 250,060
Total Sept. 3,1898 5.927.000 16 630,000 4.239.000 431.000 297,000
Total Aug«S7. 1897
8
Total Sept., 4,18VU14,*-17,000 31,22-1,000 3.298.000 2.239.000 1,1O0,(H.O’
1 UII n p U1896 Id, 493,000
U e i 5, tQ
F « ,VW 4.782.000 7,274,non
Total Sept. 7, 1895,ll»,JIV V 13,781,000 9.5(3,000 1.709.000 1,300.000
Total Sept.
80,754,000
3.194.000 518.000 187,0C
• Last week’s stocks; this week’s not received.
I n to r e a t —
Hew sYork......
Do afloat... .
Albany*... ♦ ............
Buffalo....afloat......
Do ..............
afloat..
Do
Milwaukee........
Do afloat..
Duluth.. afloat..
Do
Toledo afloat,..
Do
Do afloat..
Do
Cincinnatiafloat..
Boston .............

THE

IV heat,
bush.

344,000

C om ,
bush.

1.174.000
189,000
66.000
1.342.000
8,701.000

O a ts
bush.

6 7 ,0 6 0

DRY

o r k to

ept

Week. Si?ice J a n . 1. Week. Since J a n .

2

Great B ritain ,......................
China...................................
In d ia ....................................
A rab ia......................... ........
Africa .................................
West indies..........................
Mexico........... .....................
Central Am erica,.................
South Am erica....................
Other Countries..................

2,013
75
1,408
06
400
86
655
29

2,31-1
78 7
llS .fO o
9,732
24,818
8,958
10,233
3,084
0.108
30,419
12,980

T o tal...............................
China, via V an co u v er*...,

4,952
3,876

232,823
17,83

S

2,048

T o tal......... .....................

8,718

250,609

2.048

210,898

Prom New Etigiauu mill imiuts roe;.

Business during the first halt of the week was slow, Mon­
dap being a holiday and the heat seriously checking spot
buying the next two days. W ith a much lower temperature
Bince Wednesday buyers have been present in large numbers,
and store trade has picked up considerably. Reports from out
of-town markets show that trade has been checked since the
beginning of the month by the hot spell, and that a return to
normal weather was needed to help the balance of fall business
at second hands, so that the change must be regarded as a
favorable market factor. There have not been any develop­
ments of importance in either the cotton or woolen goods
division. In the former buying for export has expanded
somewhat and there has been greater curtailment in produc
tion at Fall River, but both may prove transient, whilst the
low level of prices for raw cotton will, it is believed, prove
a more lasting influence. Print cloths have continued firm,
but in heavy staple cottons there is still a sagging tendency.
Print cloth stocks have of late been considerably reduced,
but in the other lines referred to there are signs of goods
accumulating. The woolen goods division closes the week
in as unsatisfactory condition as before in both men's-wear
fabrics and dress goods.
W oolen G oods.—There has been a poor attendance of
wholesale clothiers and cloth jobbers in the market this
week and spot business has been slow. Salesmen on the road
have also had poor success and the siluation continues very
unsatisfactory. The total orders taken for light-weight wool­
ens and worsteds for men’s wear for spring up to date are
much below normal, and generally estimated to be not over
fifty per cent of the volume of business secured up to cor
responding date last year. A good supplementary demand is
looked foT, and this helps to keep sellers steady, but there is
nevertheless some irregularity in prices of both low and

25
7

3,452
2,506
97,574
6,287
16,957
14,135
10.001
2,408
5,951
33,669
3,389

320
6ftB
3 9
78
72
Oil
388
3i

.1 1

The value of the New York exports for the year to date
has been f8,187,777 in 1398 against $7,65 i,7.'4 in 1897.
Sales of heavy sheetings and drills this week for
export have been larger than for some time p ist, but busi­
ness on home account continues indifferent. Prices are easy
and occasional makes of 4 yard sheetings reduced
Light­
weights steady but demand quieter. Duck io hotter request
but prices barely so firm as of late. Business in bleached
cottons quiet; medium and fine grades tend in favor of
buyers; low grades firm. Denims dull and d mand readily
met: other coarse, colored cottons quiet, with ready sellers.
Wide sheetings slow and unchanged. Cotton flannels and
blankets firm. White goods in fair demand for spring but
prices irregular. Kid-linished cambrics steady. Fancy
prims quieter, with pressure to sell in some quarters. Morestaple lines in steady request and prices generally main­
tained. Staple and dress stvle ginghams quiet but well situ­
ated and prices steady. The demand fur print cloths has
fallen off considerably, but prices firmly maintained on the
basis of 3 1-lSe. for extras.
F oreign Dry G oods.—Fall trade has been made up of
small, unimportant purchases in various Rues at irregular
prices. Buyers are still backward in placing orders for
spring in both staple and fancy goods, and importers are not
pressing for business.
Importation* and Warehouse Withdrawals of Dry Ooods
The importations and warehouse withdrawals of dry good®
at this port for the week ending Sept. 8, 1898, and since
January 1, 1898, and for the corresponding periods of last
year are as follows:____________________
Hn
g
{H
a GS'c£o B
io
■to
|s?c*g p
:&
£ i* P- r •• M * *7
! o —!?
1 1fis ■ • tJ
53- 0
5
»:•
:;
s*
cc.
>£
j
6!
:
ii

m
m

so

GOODS TRADE.

N ew Y ork , F riday , P, M., Sept. 9, 1898.

1

196,332
14,566

-Corn.-

Sines S e p t. W e e k S in c e 3 + v t. W e e k S in c e
3. 1,18SS. S e p t.s3.. 1. b18P8. Sbeupsth 3 1,18C8
blW/i.
ush.
bu h
.
b b ls .
1.3i'7.940 1.307,910
171.264 171.204 1,154,301 1,151,301 1,487,730 1,497,780
19,534
876,778 870,778
19.534 29,369
29.8*9
P,2-5
>20
9,285
L2a
lft/280
16,*80 ......
17,050
17,650 121,920
4.( 02
4,(»«2 83.712
12,334
82,712 124,92U
12,331
25l,7fc9 251,789 2,544,958 2,54 4,953 2,510,491 2,516,491
281,613 281.513 5,154,9 i-l 5,154.994 4,119,890 4.119.890
visible supply of grain, comprising the stocks id

1t o 8. & C. America.
Other countries..
Total 1S1K...........
S rp t.

ew

B a r le y .

b u s t l.
bush.
US.S73 1,909
.... ...
........ .......
.......
09,000
... . ....... ,, .........
4,323 oi,bio .......
10,418
.........
193,195 60.0*9 10,416
28^,142 48,382 87,031

bush.

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September

fHE CHRONICLE.

10. 1898. J

I tau

C ity pEfAflTNfEiu,
TER M S OF S U B S C R IP T IO N .

The I nvestors’ Supplement will be furnished without
extra charge to every annual subscriber of the Commercial
F inancial C hronicle.
The State and C ity Supplement will also be furnished
without extra charge to every subscriber of the C hronicle.
The Street Railw a y Supplement will likewise be fur­
nished without extra charge to every subscriber of the
Chronicle .
The Quotation Supplement, issued monthly, will also be
furnished without extra charge to every subscriber of the
C
.
TERMS for the Chronicle with the four Supplements
above named are Ten Dollars per year within the United
States and Twelve Dollars in Europe, whioh in both cases
includes joscage.
________
and

h r o n ic l e

Terms of Advertising—(Per inch space.)

Transient matter <eaoh tlme)$3 50 I Three Months (26 times).. 43 00
(13 times)..$25 00
.
S ir months
Tw o months (8 times)......... 18 OO I Twelve Months (52 times). 58 00
s t a n b in g

b u s in e s s c a b d s

New York Stute. —Equalized Valuation*. —On September6,
1898, the State Board of Equalization adopted the table of
equalization as prepared by the State Tax Co ntnissioners.
The table is basel upon the Assessors' returns for the year
ending Jnly 1,1897. The assessed values for the present year
are not offi ial until passed upon by ibe Supervisors in Ds
cember, and therefore the tax levy will not be based upon
this year's figures.
Io'the following table we give for each county the a«sf ssed
values of real estate for 1897 the amount added or deducted
in adjustment, and the equaliz“d values; also the total of
the real estate valuation as equalized and of the personal
property.
T
E
V
.
able

C ounties

of

A ss f **ed
Value
o j Heal
Estate rSgy.

q u a l iz e d

A m ounts
A dded and
Deducted
this Veir.
%

a l u a t io n s

E qualized
Value o f
Heal
Estate.
*

Total o f
E q a ltztd
Value, o f
R> al Estate
am t of
Personal Est.

—
$
A lb a n y ........
PO 9*6.375
A lle g a n y ___
13.454.655
B r o o m e ......
3 ■.22 ',953
Cattaraugus.
23.508.rt 1
9
Cayuga . . . .
29.611462
Chautauqua.
3 >.39 4.226
Chemung . . .
22.997,786
Chenango....
14.*55,716
Clinton........
».313 225
Colum bia___
22.38i.765
Cortland......
12,075,704
13.109,080
Delaw are___
Dutchess___
'♦1,350,4*7
Erie............. 272.1 0 \ 954
E ssex...........
9.89’ ,773
9.703.098
Franklin......
Ful on .........
12.4 9,423
19.052,558
G enesee......
Greene.........
11,995,070
Ham ilton___
2,81 ,178
Herklm -T___
24,^71,311
J efferson ....
32,215,519
K in gs........... 570.107,742
L ew is...........
8 937,622
L ivin gston ..
23.027,972
Madison......
18.8 *2.236
M onroe........ 136.029.555
Montgomery
24.692,740
N ew Y o rk ... 1,787.016,091
N ia g a ra .......
40.701,155
Oneida.........
61.984,591
O nondaga...
99,132,414
Ontario........
26,866,265
O ra n g e ........
35,307,*82
O rleans.......
14+61,155
Oswego........
24.620.924
Otsego.........
18,859.497
Putq'am ......
7.196.854
Queens........ 106,139,634
Rensselaer..
71.348,147
Richmond ..
24,37 1.551
Rockland___
1 8 .*10,010
Saratoga. .. .
22 970,442
Schenectady.
15,043,556
Schoharie. ..
11,197,335
Schuyler.....
5.9*4,711
Seneca.........
13 377,374
St.Lawrence.
34,549,472
Steuben........
31,*90,047
Suffolk.........
45.049,701
Sullivan.......
6,00 >,075
T io g a ...........
12,263,138
T om p kin s...
15.272,354
U lste r.........
27,216,596
7,373.110
W arren ........
W ashington.
16+83,588
W ayne........
22 92/,3<3
Westchester. 16',969,356
Wyoming ...
>3.I0<>,372
Yates...........
10,175,392

$
81,233.1"6 93.0 >2 461
- 9 733,199
12.837.975 15.m29.177
—6 6.6-0
29.79l,9<»5 33.1*3.104
—1,431,018
23.10 >743
20.4H6, 9 ;
—3.0*0,227
— 1,739.003
27,8 72.459 31,770 969
2 7,3-2. 40 3 .217 390
—8,001.386
£2.884,1 ‘ 8 2161 \-3 2
— i 13,-18
16.7W1.973
14.1 4.831
—08O.8S5
8,470.6 >6
+ 1,015.616
7.3 29.0 41
20,166.459 2 433,49 t
—2.2L6.306
10.514.040 12.100.9 >6
—1,.561,664
12.014.502 14,220,279
— 1 094.578
40.0H.9 8 46. 8 *,407
—1,347,529
27**,8 1,131 286.9 41.628
-1,344.823
9.504.33 2
—1.590,524
8 *01.24 4
9.011,484 10.473.345
-6 9 1 .6 4
11.859,744 14.190.519
—569,679
19, *0,038
-37 2 .5 2 0
11,4 45,296 13.507.363
-54 9 .7 7 4
2,223,776
2.132,159
- 6 8 4,019
18.178,474 21,710.807
—6.092.83 7
27,03 .487 31,487.867
— 5,180,03 2
-f 9,771,170 579,878,918 600.471.052
9,335,613
—1,155,8 *9
7.781,783
— 113,767
22,914,205 20.*34 370
21,279.130
18.709,346
—92,890
—17,591.726 118.437.829 124.816,283
—131.991
24.570.749 28.0rt(»,424
+ 188.7.-3.109 1 ,975,819.200 2,277,483,941
—6,544.464
34.156.691 37. 2 2,781
— 11,78 l,*72
50.203. 19 64.291,6 i7
—17,9 *6,313
81, *76.131 96.392.09 4
— 1,914.96 '
24 051.900 28,223 585
+ 1.398,682
30.705.964
— 1,398.679
13.262,476 14,953.430
— 1,128,457
23,49 2,407 26.041.4e5
—93.173
lrt,760.324 22 .I0 .U 1 2
7.947,232
- 9 0 717
6,206,137
92.413,357 96.750.000
—13,726,2:7
—8,440,800
62.907.547 71.277.306
+3.008. 77
27.3^0 328 29.009.037
—3,305,673
15,004,337 16.452,923
—113,512
22.-62.W30 25.000.384
—74,321
14.009,235 16,478.167
—1.44-,071
9,749.264 11,482 490
6,513,426
— 195,313
5, 90 398
— 1,323,906
12,553,468 14.713.609
—6.237,531
28,311.941 32.454,8 22
—4.046 517
27,243 530 30.114,194
34,865, 53 40.287.o96
—10,181.148
6,036.915
—427 671
5.572 404
—S74.08R
11.389,050 12.98 4 094
14,183 776 16,2*4 160
—1.088.578
— 1,939,935
25,2'/ 0 601 28,372,434
7,009,114
—954,158
6,423,952
— 1,203.423
15,680,'65 18,677.717
—434,595
22,492.748 24.099,953
—37,971,948 129,997 08 154,016.519
13,035.651
- 64,721
14.827,029
- 466,371
9,709,029 10,732,146

Total..... 4,349,801,520

4,349,801,526 4,898,611,019

i,

22,357.973

41/759,5*6

,)

From the above table it will seen that the total value of
real estate for the State is $4,349,801,526 ; the value of per­
sonal property la $548,809,4113, making a total valuation of
$4,898,611,019, an increase of $391,624,325 over that of last
year. Of this increase $307,974,940 is in real estate and $83,650,385 in personal property. In the figures for personal
property as given above, $109,577,319, which is exempt from
taxation for State purposes, is not included.

547

Evansville, ID.—Bond Litigation.—On May 17, 1898, the
city’s corpcratiou lines were extended so as to take in a large
portion of Pigeon town-hip, including Ihe Blankenburg
school building. This building was erected at a co^t of $12,(00,
and bonds for this amount were issued. These bonds are now
past due, and the township desires that the city shall pay the
debt, which the latter refuses to do. Suit has been entered by
the township in the Superior Court asking for the possession
of the building and for judgment to the amount of $12,000.
Los Angeles, V&l.—Pnposed Bond Issue Valid.—Mr. C. H.
Hance, City Clerk, writes us under date September 7, 1898,
that the State Supreme Court had decided in favor of the
validity of the bonds which are offered for sale on S-ptember
19, 1898. The point raised was the result of a clerical error.
In inserting an amendment in the law authorizing municipal
bonds a manifestly wrong number was copied, with the result
tbat the section number intended to be amended was left un­
changed. The case was an agreed one, brought to remove
all doubts fs to the legality of the bends now offered for sale.
Macon County, Mo.—Information Relative to County Bonds.
—Having received inquiries relative to the present condition
of the defaulted bonds of this county, we have obtained the
following statement from an official source setting out the
present situation : “ The bonds (of this county) have been
the subject of litigation for many years. I suppose that all
of them that are now outstanding are in judgment. Some
of the judgment creditors hold warrants issued against the
common fund of the county for the amount of th-ir judg­
ments. Sime of the judgments and bonds have b-en con­
verted into warrants issued against the M & M. RR. fund—
the fund created for the payment of this debt. An annual levy
of 1-20 of 1%is made to meet the debt, principal and inter­
est. Tnis levy—amounting to abont $5 000 ann >ally—is
wholly taken up in the payment of M. & .M. warrants. This
levy is snffi dent to piy only a small part of ta-* annual in­
terest on tne debt. No effort is being made, and none is likely
to be made, further than the levy mentioned, to meet this
debt. About, a vesr ago a large part of the dent was offered
the county at 25 cents on the dollar. The debt at. present
amounts to somewhere from $ ,250,' 00 to $1,500,009.”
Neiv York City.— 1Tandamns to Compel Payment of Inter­
est —Oa Septemb-r 7, 1898. Jadge Bookstaver, in the Su­
preme Court, decided that unless Comptroller Coler within
five days pays the interest due on the bonds which were is­
sued ny the townships of Northfield. Sou hfield and Westfield. Staten Island, during the year 1897 for improvements,
he will issue a peremptory mandamus to compel the pay­
ment of tbe money das at once. These issues, which are now
obligations of the city of New York, have been approved as
to their legality, it is stated, by special counsel to whom the
matter was referred by Corporation Counsel Whalen. W ith
reference to tne bonds issued by the township of Whitestone,
Judge Bookstaver savs that inasmuch as a question has been
raised as to tbeir validity he will not pass npon the payment
of tbe interest until tbat question has been disposed of.
Bond Award Valid.—Oa September 9, 1898, Justice
Coben of the Supreme Court handed down a decision
denying the application of the Vercnilye s.vn licate to restrain
the City Comptroller from delivering the $12,688,992 36
bonds awarded to the Produce Exchange Trust Company.
The motion of William A. Read, a member of the Vermilye
syndicate, for a similar injunction was also denied. These
suits have attracted much attention, as the bid of the
Veimilye & Co. syndicate, although the highest, was sub­
ject to the approval of their counsel. This the Comp­
troller held was conditional, and he awarded the bonds to
the highest unconditional bidder. Justice Cohen, in hand­
ing down his decision, sustains the Comptroller, and
states that the bidders had thirteen days in which to ex­
amine the validity of the bonds. It is stated that the
attorneys for the Vermilye syndicate have announced that
an appeal would be taken to the Court of Appeals.
A decision was also handed down by Justice Bsekman in a
suit brought to restrain the Comptroller from awarding the
bonds to the Prodace Exchange Trust Company on the
ground that they were not the highest bidders. The Judge
denied the motion for a peremptory writ of mandamus.
Presque Isle County, Mich.—Bond Litigation —Local re­
ports state that the Board of Supervisors has decided to carry
to the Supreme Court the case to decide the validity of $100,000 refunding bonds issued in 1885. The county contends
that the bonds are not legal.
Santa Cruz, Cal. —Bond Litigation.—Upon inquiry, we
learn that there has not been any decision reached in the
suit to test the validity of the $360,000 refunding bonds,
which went to trial on November 1, 1897.
Tacoma, Wash.— Warrant Litigition.— Argument in the
cas9 of the Quaker City National Bank of Philadelphia
against the city of Tacoma, to recover on $95,000 warrants
held by the bank was concluded before Judge Carroll in the
Superior Court on September 1, 1898.
Judge Pritchard, as attorney for the city, offered a motion
to require the plaintiff company to make its complaint more
definite and certain by setting forth facts showing how it ac­
quired title to the warrants in the suit from the various
payees named in said warrants; and also to require it to give
the names of the various holders of said warrants prior to itkA
acquisition of title thereto. The Court granted the first part
of the motion and denied the second.
See Chronicle September 3, 1898, August 13, 1898, May 14,
1898, March 12, 1898, and February 26, 1898.

THE CHRONICLE.

5 48

[ vol . Lxra.

I'llte d Slates,—"Pacific" Railroad Bonds to be Prepaid. bonds was that of Peter Depuy, Nunda, at 102-916. Follow­
—Hou. L. J. Gape, Secretary of the Treasury, has issued a ing are the bids:
circular offering to redeem in advance of maturity certain of Pet or W. Suorrlll, Foujtbkoop',$6,176 00 II \Y.o m.eHSaayveio rs HSous, A lb a n y ,.. $6,090 00
Depuy, Nunda.............
H
ank,
00
B
0.083
the Pacific" Railroad bonds still outstanding. Further par­ Isaac ............................... 0,123 <V' j O. HJ. W h ites &* Co., Newoston 0,072 50
Sie
Y ork.
ticulars will be found in our Railroad Department.
Geo, M. LI till n. Now Y o rk ........ (UI5 2o j 8 . A . K c a n , C h ic a g o .................. C.oSOOO
Principal will mature $500 yearly on July 1 from 1899 to
1910, inclusive. For description of bonds see Chronicle of
last week, p. 497.
B o n d C a ll s and Red emptio ns .
Chattanooga, Tenn.—Temporary Loan —This city
Columbus, Ohio,—Bond Call. —The Trustees of the Sinking gotiated a 30-days’ loan of $5,000 with local bankers " has ne­
Fund have called for payment September 13, 1898, various . Chelmsford (Town), Mass.—Bonds Defeated.—At an elec­
issues of street improvement bonds to the amount of $18,100. tion recently held the proposition to issue bonds for road im­
lies Moines, low a.—Bonds Redeemed.—On August 31,
was defeated.
1898, City Treasurer A. B. Elliott redeemed $14,OoO city provementsWash.—Warrant Compromise.—At a recent meet­
Cheney,
bonds.
M aryland.—B oni Call.—Thomas J. Shryock has g veu ing of the Council the Finance Committee reported that the
holders of
interest
notice that interest will cease on January 1, 1899, on all 3-651 had agreedsome old warrants aggregating with tbe same.$1,8001
to
cents
dollar for
Maryland D.-fense Redemption bonds, except tbo9e exchanged Treasurer wasaccept 25to takeon the np at that figure. The
ordered
them
forth, ‘ Consolidated Loan of 1899,” as more fully stated in Coffey-vile, Kan.—Bond Offering.—Proposals will be re­
another column. Bonds will be paid at the office of the ceived by the Mayor and City Council until 8 p. m . Septem­
State's Agent, the Third National Bank of Baltimore.
1898, $17,OuO
W ashington.'— Warrant Cali.—The State Treasurer has ber 28.Elliott for the City 61 10-year electric-light plant bonds.
S.
issued a call for State General Fund warrants numbered D.Cohoes, N. isY.—Bond Clerk. On September 6, 1898, the
Sale.—
from 26.651 to 26,930. inclusive, amounting to $26,538 10, $1,933 18 41 public improvement bond was awarded to the
Interest will cease after September 7, 1898.
Cohoes Savings Institution at 100-517. The only other bid
received whs from the Mechanics' Savings Bank, Cohoes.
Principal will mature January 1, 1905. For description of
of last week, p. 497.
B o n d P r o p o s a ls and N e g o t i a t i o n s this bond see C
Council Bluffs, Iowa.—Rond Sale—On September 6, 1838,
week have been as follows:
the $30,000 4 %% refunding bonds were awarde l to the Don­
Albany, N. Y.—Bond Issue. —The Trustees of the Sinking aldson Bond "& Stock Co,, St. Louis, at 102-35. Following
Fund have decided to take the $50,000 3 (.jsf Broadway widening ing are the bids:
bonis at par as an investment for the sinking fund. Bonds D St. L ou is............... & S to ck Co.,102'So IiG eo. M . B P rio erh Cfl.S. pClrin g tleld M^2*2iS3
onaldson B ond
D ouison,
r& o
tvelan
............................
rin k o
.10111
are dated October 1, 1898.
Alexis (Village), 111.—Bond Sale.—The following bids, of Bonds mature October 1,1918, subject to call after October
which that of W. J. H ives & Sons, Cleveland, at 104-833 was 1, 1903. For further description of bonds see C h ro nicle
the highest, were received on September 1, 1898, for the A ugust 20, 1893, p. 387.
Coventry (Town), R. I,—Loan Authorized.—The Town
$3,0i0 65 water works bonds :
W . J. H a re s , Sons. C levti.......$ 3 /1 4 5 I W . S tev en so n ,C a sh ie r, A lexia.$3,031 Treasurer has been authorized to borrow $60,000 for the re­
newal of outstanding notes.
N oet-> ounjf B ond S tock Co.,
D onald so n B ond A S tock Co*, St.
Si. L o u i s ..................
.................3,11-1 i L o u ts ..................................................... 3,015
Dayton, Ohio.—Further Details Regarding Bond Offering.
Farm er-*’ S ta le Bk . G-eneseo, m . 3,105 j G e sler & K ro n strn c k , St. L o in s.. 3,005
T row bT'tijjo, M acD onald N iv e r
n a l B *uk, K irk w o o d .. 3,000 —As’stated in the Chronicle of August 27, 1S93, proposals
Co.. C h ic a g o .................................... 3,067 I G alesb u rg N a t. B ank, G alesburg. 3,000 will be received until 12 it September 26, 1898, at the office
Principal will mature $500 yearly on March 1 from 19 50 to of J. E. Gimperling, City Comptroller, for $150,(00 41 levee
1905, inclusive. For description of bonds see C hronicle bonds and $50,000 4;j storm water sewer bonds. Further de­
tails are now at hand. Securities will be in denomination of
August 27, 1898, p. 442.
Baltimore. Md.—Bond Election.—At the coming Novem­ $1,000, dated October 1, 1898; interest will be payable semi­
ber election the following bond propositions will be voted annually- in the city of New York. The levee bonds will
upon:
mature annually on October 1 ($10,000) from 1907 to 1912, in­
11.500.000 b o n d s d u e in 193S fo r th e follow ing purooses: $1,500,000 fo r s tre e t clusive, and $15,000 from 1913 to 1918, inclusive, The sewer
houses. $1,600,000-for a g eneral sew e r­ bonds will mature $10,000 yearly on October 1 from 1908 to
age Fyfltem an d |500,0oo fo r su rfa c e sew ers.
1912, inclusive. Proposals must give the price for the entire
4,80u,000 bonds to re fu n d v a rio u s Issues m a tu rin g n e x t year.
1.876.000 3,-fcT
e bonds to e x tin g u ish $87 '.OmO,third m o rtg a g e b onds o f th e $200,000 bonds, as none other will be considered. Each bid
W e stern M aryland R ailroad d u e J a n . I. IOOj , an d $1,000,000 of th e must be accompanied by a certified check on a national bank
sam e ra ilro a d co m p an y d u e J a n . 1,1902.
for 51 of the gross amount of said bonds, payable to the order
See C
May 7, 1893.
the City Comptroller.
Bath, Hie.—Offering of Penobscot Shore Line Bonds or Re- ofDuluth, Minn .—A'o Election Held.—The resolution which
funding Bonds.—Mayor Joseph Torrey and the Finance Com­ was introduced in the City Council calling for an election
mittee, Geo. E. Thompson Chairman, request bids on each to be held on August to vote on
question of issuing
of the block of bonds mentioned below, to be opened by the $100,000 electric-light30bonds failed the pass, so the election
to
Finance Committee at 2 p. H. Sept. 15,1898. The amount to be was not held.
raised is $133,650, either by the sale of Penobscot Shore
Line bonds or by the issue of 4% 20-year refunding bonds, ialEast Grand Forks, N. Dak.—Charter aElection.—At a spec­
election held September 1898, by m ajority of 35 the
The purpose of this offering is to reimburse the city for the citizens of this place voted in1,favor of abandoning the special
money need to pay the $14,150 Knox & Lincoln RR. 6%aid charter under which the city was organized, aud to reorgau
bonds, which matured July 1.1893, and to provide the money
general law.
needed to pay the $119,500 Knox & Lincoln RR. 6£ stock ize under theits outstanding This, it is stated, will enable the
debt.
bonds, maturing October 15, 1898. The Penobscot Shore city to fund
East, Liverpool, Ohio.—BonU Sale.—On September 5, 1838,
Line first mortgage registered bonds bear 4%interest, pay­ $15,000 41 road-improvement bonds were awarded to Seasonable February 1 and August 1, and mature August 1, 1920.
The Penobscot Shore Line bonds will be guaranteed, princi­ good & Mayer at 101 ‘875. iuFollowing are the bids : P re m iu m .
P rcrn tn . 1
pal and interest, by the city of Bath.
Seasongootl M ayor. C ln eln ...$ ; 2iiL 2r» B riggs, S m ith Co.. C in c in n a ti .$87 50
R
loyb
150
D enison, rio r &
C
Beliefontaine, Ohio.—Bon is Defeated.—At the election T hudolph pKre e h lolte * Co., C in ... 139 00 | G erm an NPat. B an kCo., in lev elan d . 65 00
e
Bro.n.Co.,CJeve.
,
c in n a ti... 4100
F arson,
Go.,
...
00 W .
&S
held on September 3, 1898, the proposition to issue $10,000 G;l Hew LFiruL 'acUt. .kBk., CCo hluicmabguos.. 133 60 I F irsJ t. NHaay es ank, ons,sCtCLlevelando l. 30 00
irst N a
100 0-0
t. B
E a iv e rp o 25 00
fire engine-house bonds failed te carry.
Bergen (N. V. ) Union School D istrict.—Loan Negotiated, Securities are in denomination of $1,000, dated May 1, 1898,
Tin- Board of Education ha3 negotiated a loan of $2,000 at Interest will be payable May 1 and November 1 at the office
3;.,< witii John H. Ward, Batavia. Loan is secured by four of the City Treasurer. Principal will mature $1,000 yearly
notes of $5 ,0 each, dated October 1, 1898, and payable in one. on May 1 from 1903 to 1917, inclusive.
t wo, three and four years. Interest will be payable annually, Bonds Voted.—Oa August 29, 1893, the city voted to issue
On July 8 the district voted $2,500 to pay for an addition to $15,' 00 51 street and culvert bonds. Interest will be payable
the school bouse, for which purpose this loan will be used. at the office of the City Treasurer. Bonds will be dated
Tbe remaining $5C0 will be raised by tax.
September 1, 1898, aud the principal will mature from Sep­
Beyl'- County ( P. O. Danville), hy.—Bond Election.—On tember 1, 1-99, to September 1, 1913, inclusive. Date of sale
November 8, 1898, an election will be held to vote on the has not yet been determined upon.
qncstion of issuing $40,000 turnpike bonds. Interest will not Eau Claire, Wis.—Bonds Voted.— The city has voted in
exceed (rf. Principal will mature in 30 years, redeemable at favor of issuing $40,000 bridge bonds.
option of the county.
Ellenshtirr, Wash.—Warrants Not Sold.—This city adver­
Buffalo, N. V.—Bond Sate.—On September 6, 1898, the tised for bids to be received until August 1,1898, for 61 w ar­
$460,003 54 SVj't tax loan bonds were awarded to Parson, rants, payable within four years, or as fast as the net profits
Leach & Co., New York City, at 101-773. Other bidders were: on the Electric Light Fund would permit. No satisfactory
Jesse C, Dana, Buffalo, for $5,000 bonds at 101-52 ; Joseph E. bids were received, so the warrants were not awarded.
Gavin. Buffalo, whole issue at I'd -2955. and Erie County Elmira, N. Y.—Bond Offering.—Proposals will be received
Savings Bank, Buffalo, whole issue at 101-15. Principal will until 8 F, M. September 19, 1898, by Edgar Denton, Mayor
for $29,000 registered or coupon refunding bonds. Securities
mature August 15,1903. For description of bonds see C
I C L August 27, 1893, p. 442.
will be in denomination of $1,000, dated October 1, 1898.
w Bond Sole.—The city has awarded 87,166 68 bonds to the Rate of interest will be made by the bidder. Principal will
** omptroller as an investment of the Park Bond Redemption mature October 1, 1933 Bonds are issued under Section 7 of
Sinking Fond. Bonds are dated September 1, 1898, and bear Chapter O-S, Laws of 1892, as amended by Cuapter 486, Laws
of 1&93, and by Chapter 54, Laws of 1897. and are exempt
81 interest. Principal matures September 1, 1899,
Cattaraugus (Tillage!, N. V.—Bund Sale.—The highest from all taxation. E ch bidder must bid the lowest rite of
hi 1 received on September 5, 1893, for the $6,000 4% water interest at which the bonds bid for will be taken at par valne
h r o n ic l e

&

Q.

&

&

i.%

fr

\r

h r o n ic l e

&

hron

e

Sc

S eptember

10, 1898.]

T H E C H R O N IC LE .

and may also bid a rate of interest and premium on the bonds
bid for.
ETerett, Mass.—Bond Sale.—A $10,000 3 ^ one-year note
was recently sold to Blake Bros , Boston. The money was
borrowed to extend the system of sewers.
Fayette (Tillage),Ohio.—Bond Offering^—Proposals will be
received until September 14, 1898, for $5,500 6i village hall
bonds. Securities will be in denomination of $500. Principal
will mature $500 each six months from February, 1902, to
February, 1906, inclusive. Bonds were authorized at an
election held last April, when 127 votes were cast for and 29
against the issue. The village has an indebtedness of only
$3,000, which is a school debt and will all be paid before the
first bond of the above issue falls due. The assessed valua­
tion is $151,000.
Fostnria. Ohio.—Bond Sale.—On August 8,1898, the $9,867
4%% refunding bonds were sold to W . J. Hayes & Sons, Cleve­
land, at 104-J77. It was recently reported that all bids re­
ceived for these bonds were rejected, but we are advised by
the City Clerk that the award was made as above. Principal
will mature September 1, 1918. For description of bonds see
C
July 30, 1898, p. 240.
Gonzales, 1 exas. —Bonds Registered.—On August 29, 1898,
the Stare Comptroller registered $15,000 sewer bonds.
Green Bay. Wis.—No Bond Issue at Present.—We are ad­
vised that nothing definite has yet been done looking towards
the issuance of $15,000 improvement bonds which were re­
cently reported as authorized.
Healdsbnrg, Cal.—Bond Sale.—On August 25, 1898, the
$80,000 5%gold water-works and electric-power bonds were
awarded to the Oakland Bank of Savings at 103 3125. Bonds
mature $2,000 yearly on January 1 from 1899 to 1938, inclu­
sive. For further description of bonds see C
Aug­
ust 20, 1893, p. 383.
Horse Creek Union Drainage District No. 1 (P. 0. Farmersville), Montgomery County, III.—Bond Sale—On Sep­
tember 1, ISO'', 86,770 fi% registered bonds of this district
were sold to F. M. McKay at 100-516. Three other bids were
received. Securities are in denomination of $500, except one
bond, which is for $270, and bears date of August 1, 1898; in­
terest will be payable annually. Principal will mature as
follows : $2,000 August 1, 1899 ; $2,500 August 1, 1900, and
$2,270 August 1. 1901.
Jersey City, N. J.—Bond Sale.—On September 7, 1898, the
$150,' 00 4% gold coupon free public library bonds were
awarded to Banwell & Everitt, Hew York, at 105 37. One
other bid. that of Blair & Co., New York, at 104 36, was re­
ceived. Bonds mature April 1,1928. For further descrip­
tion of bonds see C
August 27, 1893, p, 444.
Kasnta, Minn.—No New Bonds.—Mr. Charles A. Johnson,
City Recorder, writes us in reply to our inquiry that the
statement in some of the papers that $3,500 Village Hall
bonds would be issued is incorrect. Mr. Johnson says that
the village has decided to bnild a hall, but that bonds would
not be issued unless the Council should change the present
plan of payment for the building.
Lancaster, Ohio.—Bond Offering.—Proposals will be re­
ceived until 12 m . to-day (September 10,1898). by H. T. Mechling, City Clerk, for one $l,800 bond, dated September 15,
1898, and ma uring September 15, 1900; interest will be pay­
able semi annually. Said bond is issued for the purpose of
constructing a city prison in the basement of the City Hill,
in pursuance of sections 2335 and 2836, Revised Statutes of
Ohio, and of an ordinance passed the 11th day of Jnly, 1898,
authorizing the issuing of said bond. All bidders are noti­
fied that this is an emergency bond, haste being necessitated
by reason of the unsanitary condition of the room now used
as a city prison, and that Section 2837, Revised Statutes of
Ohio, has not been complied with. A certified check or New
York draft for $100 must accompany each bid.
Lansdowne, Pa.—Bond Election.—There will be an election
held in this place on September 20, 1898, to vote on the
proposition to issue $15,000 road improvement bonds. Interest
will probably be at the rate of 4%, payable in Philadelphia. If
the bonds are voted they will be offered for sale about Octo­
ber 1, 1898.
Leipsic, Oilio.—Bond Sale.—On September 1, 1898, the
$13 000 street-improvement bonds were awarded to Seasongood & Miyer, Cincinnati, at 115-393 and accrued inter­
est. Following are the bids :
h r o n ic l e

h r o n ic l e

h r o n ic l e

Saasonsrood A Mayer. n n c ln .tl5 .n o l 75 Mason. L ew is A Co.. Chicago.fl4.906 60
W . J. H ayes * Sons, Cleve. ...*15,0:8 00 Solrzer A Co.. T o l e d o .......... l*,9,w • 0
2
N ew First Nat.Bk ..Columbus. 14,852 50
• F la t.

$10,000 of the above bonds will mature $1,000 yearly on

September 1 from 1909 to 1918, inclusive. The remaining
$3,010, known as “ East Defiance Street Extension Improve
m ent Bonds,” will mature $305 yearly on September l from
19)9 to 1918 inclusive. For de sc rip Ton of these two issues
see C hronicle A ngnst 13, 1598, p 336.
Leonia (Borough) N. .T.—Bond Sale.—On September 7,
1898, the $3 5t>o 5i coupon fire departm“nt bonds were
awarded to C. Zabriskie, Jersey City, at 103-08. Following are
the bids:
C. Zabriskle, Jersey Ctty...... ....103-08 W a lte r Stanton A Co., N e w York. 100*10
D . J. T in k ler ...... .
...103-00 nan'l A. Moran A Co., New York.l0n"00
Benwell ft B vorltt Now York ....102-55 J. L. W atkins ..............................lOO’O
O
R. B. Smith A Co.. N ew York. . . . . tOO'79

549

for water-works. We are advised by the Town Clerk that no
such bonds will be issued.
Long Beach (Cal.) School District.—Bonds Defeated.—
At the election held August 24, 1893, the proposition to issue
$8,000 school bonds was defeated.
Lorain, Ohio.—Bond Sale.—On September 5, 1898, the
§35,000 5# Black River improvement bonds were awarded to
the New First National Bank of Columbus at 105-07. Fol­
lowing are the bids:
N ew First Nat. Bk.,Co1
um bus.f35,774 50 I Jas. B. H o ze , L o ra in ............. $35,428 00
Briggs. Smith Jt Co.. Cincin... 36,612 50
C l T o led o . . . .......
Denison, P rior A Co., C le v e .. 35,585 00 | W . J. H a yes & Sons, C le v e ... 35,150 00

3Ditzer A

,

35,375 00

Bonds mature $5.0 0 yearly on July 15 from 1918 to 1924,
inclusive, any or all bonds being subject to call after July
15, 1908. For further description of bonds see Chronicle
Angust 20,1898, p. 388.
Lorain County, Ohio.—Bids Rejected—Bonds Re offered
fo r Sale —The highest bid received on September 1, 1893, for
the $175,000 4% bridge bonds was that of Farson, Leach &
Co., Chicago, at 102-67, which bid was withdrawn. The
County Commissioners then rejected all proposals, and re­
advertised the bonds for sale on September 22, 1898. A de­
scription of the bonds will be found in the Chronicle August
20, 1898, p. 388.
Marlborough, Mass.—Bond Sale.—On September 9, 1898,
86,000 4;i coupon water bonds, maturing July 1, 1926, and
$20,000 4% 2 i-year coupon sewer bonds, dated July 1, 1898,
were awarded to Estabrook & Co., Boston, at 110 291. Both
of these issues are in denomination of $1,000; interest will be
payable semi-annually. According to the official circular
there has never been any default of interest or principal by
the city.
Martinton Drainage District No. 3, 111.—Bond Sale.—On
August 13, 18-8, the District sold to A. Goodell & Sons Co.,
Loda $18,000 5£ 1 4-year (serial) drainage bands at 101-10.
Maryland —Proposed Exchange of Bonds.—Thomas J.
Shryock, State Treasurer, has given notice that between
October 1 and November 15, at the office of the State agent,
at the Third National Bank, Baltimore, he will be ready to
exchange the following bonds for the “ Consolidated Loan
of 1899”:
3'05£ defense redem ption loan. Chapter No. 289 o f 1882.
exchat ge loan o f 1884, Chapter No. 449 o f 1880.
3:1 exchange loan o f 1 84, Chanter No. 201 o f 1888.
exchange loan o f 1891, Chapter No. 305 o f 1890.

8%
3,i

The consolidated loan of 1899 provides for the issue of
bonds to the amount of $5,800,000, coupon or registered, for
the redemption and exchange of obligations of the State, ex­
cept $500,000 3%% penitentiary loan of 1896 and $100,0i'0 3}4%
insane asylum loan of 1896. The consolidated loan will bear
date of January 1, 1899, with interest at the rate of 3%, pay­
able January 1 and July 1. Principal will mature January
1,1914, subject to call after January 1, 1909. Bonds are ex­
empt from all State, county and municipal taxation and are
to be exchanged at par.
Massillon, Oluo.—Bond Offering.—Proposals will be re­
ceived until 12 . October 4, 1898, by J. C. Haring, City
Clerk, for $4,000 3% public library bonds. Securities will be
in denomination of $500, dated April 1, 1899; interest will be
payable annually at the City Clerk’s office. Principal will
mature $500 yearly on April 1 from 1900 to 1907, inclusive.
Bonds are authorized by an Act of the General Assembly of
Ohio passed April 15, 1898. Each bid must be accompanied
by a certified check of some solvent national bank for $200,
payable to the City Clerk.
Missouri.—Bonds Registered.—The State Auditor has reg­
istered the following bonds :
m

8%
Q%

$100
bond of Ozark Co. School Distriot No. 2, 23, 11, bearing date A u g. 15.
600 8* bonds of Shannon Co. School D istrict No. 1, 29, 4. bearing date Aug. 15.
250
bonds of M acoa Co. School D istrict No. «, 67, 17, bearing date Aug. 1.
700 0 b >nd3 of Livin gston Co. School D istrict N o . 2,68, 22, bearing date Sept. 1.
%
b00
bonds of Nodaway Co. School D istrict No. 0,00,35, bearing da te Aug. 22.

7%

Moran, Kansas.—Bonds Not Sold.—We are advised that
the $4,0:10 gas bonds, which have been advertised for some
time past, are not yet disposed of.
Mount Vernon, N. Y. - Bond Offering.—Proposals will be
received until 8 P. M. September 20. 1898, by the Common
Council at the Lucas Building, No. 9 Depot Place, for $50,000
5%tax relief bonds, Nos. 433 tt 482, inclusive. Securities are
in denomination of $1,000, dated September 1, 1898; interest
will be payable March 1 and September 1, at the office of. the
City Treasurer. Principal will mature September 1, 1901.
Bonds are authorized under Section 142 of Chapter 182, Laws
of 1893. Each bid must be accompanied by a certified check
for $1,000, payable to the city of Mount Vernon. Wm. N.
Hoyt is the City Clerk.
New Castle, Pa .—Bond Offering.—Proposals will be re­
ceived until 12 . September 12, 1898, by W. E. Marshall,
City Clerk, for $35,000 4% coupon bonds. Bonds are in de­
nomination of $500, dated August 1, 1898; interest will be
payable February and August. Principal will mature Aug.
1, 1918, subject to call after August 1, 1903, Bonds are free
from all taxation.
Newport News, Va.—Bond Sale.—The highest bid re­
ceived on September 6, 1898, for the $40,000 4}i% bridge bonds
was that of R. Kleybolte & Co., Cincinnati, at 103-50. Fol­
lowing areAthe bids:
Citizens’ M arine Bank, N ew port
R. K leybolte
Co.. C incinnati..103 50
m

th e Lam orecht Bros. Co., Cleve.t0.c07
News
.....................................)?? '§?
Edw.C. Jones 'o., Cin cin nati... 103*059 First N a'. Bank, N ew p ort Yew s.101-81

Bonds mature $500 yearly from 1903 to 1909 inclusive. For W . J. H ayes A Sons, Cleveland. .103-85 Schultz Bros., bankers, New port
Denison, P rior
o., Cleveland.
further description of bonds see Chronicle August 27,1898, E. D. Shepard AA *Co., N ew York.102'62 News. .. ................................... 100-75
p. 444.
Principal will mature 30 years from date of issue, subject
Leslie (Town), Mich.—No Bond Issue.—It has been re­ to call after 20 years. For description of bonds see Chronicle
ported that this town was considering the issuance of bonds August 27, 1898, p. 445.
102-50

55 0

T H E C H R O N IC L E .

Sew Richmond (Town), Ohio.—Bond Elect on.—On Sep­
tember 13.1899. this town will vote on th« qnestiouof issuing
$30,000 electric ligut nml water works bonds. If 'he bonds
are issued i hey will probably carry 5> interest. We are ad­
vised that the town at present has no bonded indebtedness.
Ohio County (P. 0. Hartford). Ky.—Bond Offering.—Pro­
posals will be received until 13 M. October 1, 1899, by the
Commissioners appointed by the Court to issue and sell said
bonds (J. H B iru-s. Chairman.) for $.30,000 i f refunding
bonds. Interest will be payable semi-annually, and the prin­
cipal will mature in 20 years from date of issue, subject to
call after 5 years. Securities will be in deoominati iub of not
leas than $ 100, nor more than $ 1,000. Eich proposal must be
accompanied by a sum equal to 2:t of the am mat of bonds
bid for, and must stA te the amount of bonds desired, and the
denomination of such bonds. Bonds are issued pursuant to
an Act of the Kentucky Legislature approved March 5, 1892.
Oil City (Pa.) School District. -Fur'her Details of Bond
Offering —Proposals will be received uml I 0 r m. September
15 (not Septemoer 16, as originally stPed). lH'.K by Wilmer
I Rehr. Secretory of Board of Control, for $45,000 4? coupon
school bonds. Bonds will bear date of October 1,1819, and
interest will be payable spmi annually. Principal will ma­
ture on October 1 as follows: $4,000 yearly from 1903 to
1917, inclusive, and $4,0 >0 yearly from 1918 to 1922, inclusive.
Oswego (N. Y.) School District.-Possible Bond Election.
—We are advised that an election may be held this fall to
vote on the proposition to issue from $7,' 00 to $11,000 school
bonds. Nothing definite in the matter has yet been settled.
Pawtucket, K. I.— tempo a ry Loan —Tnis city recently
negotiated a two months' loan of $125,000 at 3;£ net disc mnt.
Payette Independent School District No. 32, Canyon
County, Idaho. —Bond Offering.—The Board of School Trus­
tees w li sell at 2 P. m.. September 24. 1898, at the banking
room of the Payette Valley Bank, $3,000 0% bonds. Securi­
ties are in denomination of $100', dated September 1, l^aS.
Interest will be payable March 1 and September 1, and the
principal will mature $2,0i)0 September 1, 1908, §2.0 0 Sep­
tember 1. 1913, and *4,000 September 1, 1918. J. M. Wells is
the Clerk of the Board of Trustee.
Philo School District. Champaign County, III.—Bond
Bale— On September 1, 1893, the $4,000 5% school-house bpnds
N EW

NOTICE OF REDEMPTION.
SA LT

LA KE

CITY.

T h e City T rea su rer w ill pay at libs office, Septem ber
first, iS&8, th e eu tire Issue
$500,n00 S alt L a k e City
bonds o f 1888. In tere st ceases Setcm ber X
.
Ordered by the Council, A u g. 10, 1898.
L e g a l notice in Salt Lake Papers.
G. H . B A C K M A N .
City Recorder.

GEORG i A.

Sealed bids w ill be received u otil O ctober 1st fo r
the pur chime o f $7,000 o f T o w n bond* fo r building
school house. In tere st 6X. F o r fu rth e r in fo rm a ­
tion w rite
S.
E V A N ? , M ayor,
W ad ley, Gu,

a

C.

S. A. Keim, Glilcuif.j................. 108 60 |

Principal will mature $704 on August 20, 1899, and each
six months thereafter until August 20, 1909, For descrip­
tion of bonds see C
August 20, 1893, p, 38b
Rlrerhend (L. 1.), N. V.—Bonds Proposed. This town has
under consideration the issuing of $25 0 )0 school bauds. We
are advised that nothing definite has beeud me iu the matter.
Salem, Ohio.— Bond Sale.—On September 6, 1898, the
$5,047 W street-paving bonds were awarded to Tne Lamprecht Bros. Co., Cleveland, at 108-975. Following are the
bids :
h r o n ic l e

P rem ium *

I ...
_
rfcmittm.
T h e Lamprocht Bros. Co..C<eve.$id3 0•>I New First Nat. Bank. Colu nbus.f328 00
Heiasong .od & Mayer, ‘ ’lacin
. 4 *8 76 |First Nariou il B m it !...... ........... 16500
W . ,J. H ayes \ 8 ns. C) veland . 7i> O'
00
a Kean. Chicago ..................
Ruaolpn K leybolte &Oj.,Ctucin. 37U O0 f

Principal will mature 3504 74 yearly on September 1 from
1899 to 1908. For description of bonds see Chronicle of last
week, p. 499.
San Rafael, Cal.—Bond Sale.—Ou August 29, 1899, the
#26,100 o% gold sewer-bonds were awarded to the Oakland
Bmk of Savings at l'*7*37. Bonds mature *6)0 yearly on
September 1, from 1899 to 1938, inclusive. F ir farther descriDtion of bouds see Chronicle August 2 >, 1893, p. 390.
Shelbina, Mu— Bonds Pored.—At a special election held
September 6, 1898, the issuance of $5,000 electric light plant
bonds was authorized.
Sheradeu (Borough) Pa.—Bond Offering.—Proposals will
be received until 7 p. m. September 13. 1 93, by Charles L.
Criss, Borough Clerk, Sh-ridauville P. O., for the $ ,0,000 i f
coupon improvement bon is recently authorized. Securities
are m denomination of $l,00'\ dated O dober 1. 1893; iaterest
will be payable semi-annually at Pittsburg, Pa. Principal

BOUGHT AND SOLD.
L.

DAY

&

CO.,

40 Water Street, Boston,
1 Brood Strspj, New York.
Governm ent and

MOSCOW,IDAHO, GOLD 6s SOUGHTMunicipal Bonds
AND SOLD.
School Bonds, Due 1911.

Mos ow is the County Seat o f Isaiah County, one
o f the > e »t agricaJcMral -ecti ms in ib e Suite. For
price and fu rl particulars address
EL B. P O W E L L . W oodstock, V erm ont.

$175,000
Los Angeles Ti action Go,
l » t M o rt g a g e 6% 2 0 -y © a r G old B o u d n ,
T o ta l issue $260,000.
First M o rtga g e at $H,000 per mile.
N et earnings fo r 28 months o f operation, $09,083 ot
•q u ira le n t to 12 on the total Issue o f bonds.
Popu lation o f Los Angeles 103,070.
Send fo r fo il description o f property.

%

E. H. ROLLINS & SONS,
1 9 m i l l s S t r e e t , R o n to n , Olnnn.

• S i 3 5 , 0 0 0

108

8. .

3 % Bonds
R.

Premium^

Premium, i

riio First Nat. Bank. RftVflnna.$ 150(H) Rudolph K ley b o lto & r o .t O lu...»l0&50
Sea-MHiifood a Mayor, C ln -iti— US »7 1Th e L imprecht, Br.su Co., Cl o re. lO i so
* ir * t
Bank. U oim ubu*.... .. 110 0 i I Douiaon, f*rl -r A Co., Clove ..
03 50

U N IT ED S T A T E S

tit

W A D LEY ,

were awarded to Donaldson Bond efc Stock Company. St.
Louts, at l12-50. Principal will mature $500 yearly on Julv
1, from 1900 to 1907, inclusive.
Kavenu Ohio.—Bond Bale.—On September 3, 1898, the
$14,080 6? coupon street improvement bonds were sold to the
First National Bank, Ravenna, at lOLOtiS. Following are
the bids:

IN V E S T M E N T S .

LO ANS.

[V ol. Lxvn.

APPRAISEMENTS MADE OR QUOTATION!*
BURNISHED FOR TH E PURCHASE, SALE, OT.
EXCHANGE OF ABO VE SECURITIES.

JLISTS ON APPLICATION.

N. W. HARRIS & CO.,
B 1N K E B 8,

31 NASSAU ST. (Bank of Commerce Bide.)

ADAMS & COMPANY,
BANKERS
DEALERS IN

INVESTMENT BONDS,
Members of Bouton Stock Exchange.

IN V E S T M E N T S .

Reg

is t e r e d

B onds

LEGAL INVESTMENTS FOR NEW
YORK SAVINGS RANKS.

$130,000 White Plains, N. Y., i f Water
Works Bonds, maturing 1904
to 1928.
$150,000 Cincinnati, Ohio, %%% Water
Works Bonds, due August 1,
1938, optional Ang. 1, 1918.
Price and particulars on application.

Rudolph BANKERS. & Co.,
Kleybolte
1 Na Hsuu Street. New York.

PUBLIC SECURITIES
SUITABLE! FOB

S A V IN G S B A N K AN D T R U S T
FUNDS.

LISTS MAILED ON APPLICATION.

Farson,

Leach & Co.

CHICAGO.
YORK
4 1%
No. 7 Congress and 31 State Streets, too Dearborn Kt.________ *EWhh. ii St,
aN
L o r a i n C o u n t y , O..
BOSTON
3

11

(E ly ria Ci tin I y Sent)

E D W A R D C. J O N E S CO .

A ssessed v n lu a t lo n ............................... ..$18,900,000
T o ta l deb t (th is Issue o n ly )...................... .
35,000

Blodget, Merritt & Co.,

Municipal, Railroad,
Street Railway and Gas

16 Congress Street, Boston

BONDS.
Syracuse, N. V., Rapid Transit R’way 5a,

C H I L D R E N S ’ H O M E BONDS.
Populjtl1n, 00.000.

BRIGGS. SMITH & CO.,

P rice and particulars npon application.

35 En.t Third Street, - Cincinnati. Oliio,
C H R O N IC L E V O L U M E S F O R S A L E .
W IL L IA M

B. D A N A C O M P A N T ,7 fH P in e S I..N .T

DEALERS IX

BA N K ER S,

STATE, CITY & RAILROAD B0N»SI

NEW VOIUC,
1 NASSAU STREET.
P H IL A D E L P H IA - 421 CHESTNUT ST.

551

T H E C H R O N IC L E .

S eptember 10, 1898,J

will mature on October 1, as follows: $1,0 0 in 1902,1904. at 103’835. Following are the bids received on August 31,
1906. 1908; $l 000 yearly from 1910 to 1921, inclusive; $.',000 1898:
M acD
Coman
Ohio
50
yearly from 1922 to 1925, inclusive: and $3,000 yearly in 1926 Trow bridge, Chicagoonald &§15,575 25 I Seym our P rior & & Co.. le ve...$15,112 10
iv r
.......
Denison,
Co., C
vV, Harris
]5,5t0
S.
icago.... .......... 15,300
and 1927. B.mds are free from all taxes. A certified check N.NF. ei)u<’o..-n. .* Co.. Chicaso. 15,502 00 i|w . A. Kean. C&h Sous, C leve . 15,340 00
U.
tt
J. H a
for $500, payable to W. J. Sheraden, Borough Treasurer, Sycamore NatSycamore ...... 15.501 00 |N oel-Y ouves Bond & Stock 15,40100
3k. Sycam’re.
ng
Farson, Leaub
-o..Chicago. 15,467 00
Co., St. Louis ...................... 15,29100
must accompany each bid.
Co..
Sidney (Ohio) School District.—Bond Sale,—On Septem Mason Lew is &will Chicago. 15,427 • 0 ! yearly from April 1, 1899, to
mature $1,000
ber 1, 1898, the $14 0 >0 H bonds were awarded to The Lam- Principal>-3, inclusive. For
1, 19
­
precht Bros. Co., Cleveland, at 106’15. Following are the AprilAugust 13, 1893, p. 338. description of bonds see C
bids :
Tallahassee, Fla.—Bonds Proposed.—This city has under
Lamprecht Bros. Co.. Cleve..... 8U.HH |Citizens’ Bank. Sldnev..............eu.foi
consideration the issuing of bonds for the establishment of a
Denison. Prior * Co , Cleve ..... 14,8 .0 W. J. Hayes a Sons, ClereUnd.. H.7T0
Seasongood & Alayer, C in cin
I I , -4 , 1German-..liner. Bank, S id n e y... 11..01
municipal electric light plant, but no action has yet been
Principal will mature $2/00 September 1. ’899, and $1,009 taken in the matter. (P. 0. Olympia), Wash.—No Bond
Thurston County
each six months Thereafter, from March 1, 1900. to September Issue.—The County Commissioners were recently
1, 1905. For description of bonds see Chronicle August 6, with a proposition to fund $30,090 of general fundaporoached
warrants,
1898, p. 287.
Snath Omaha, Neb.—Bonds Proposed.—The issuance of but the terms offered were uot acieptable, and so the bonds
issued.
$47.0:0 bond! to refund those maturing October 1, 1893, is will not be Kau.—Bond Election.—Ou August 31, 1898, the
Topeka.
under consi 1 rati >n
Bond Is-ne. —This city will issne within the next sixty days City Council passed a resolution providing for an election
pnrpose of voting on the
about §1,000 7-? district grading bonds. Principal will mature for thefor a water-works system, question of issuing $ 149,000
one-fifth annually. We are advised that the bonds will prob bonds County (Cal.) Linwood School District.—Bonds
Tulare
ably be di-p >sed of at private sale.
Voted —The district has voted in favor of issuing $910 8^
Spi Ids l,ii lip and Spring Valley (Wis.) School District gold school bonis. Principal will mature $190 yearly on
No. 1.—Bo o Offrnn- ■.—Proposals will be received by VV. G. January
Spence, School Director, for $2,750 school-house bonds. yet been 1 from 1900 to 1904, inclusive. Date of saie has not
determined.
Securities are in denomination of $50. dated October 1, 1898. Utica, N. Y.—Bond Offering.—Proposals are asked until 12
Interest will be payable annually on February 1 aDd the m. yesterday (September 9), by J. A. Cantwell. City Clerk,
principal will mature yearly on February 1 as follows: §100 for $4,100 4% Washington Street bridge bonds. Principal will
from 1900 to 1904, inclusive, $250 in 1905 and $500 from 19. 6 mature §1.000 yearly on November 1 from 1399 to 1902, in­
to 1909, inc Ti-ive.
Steubenville. Ohio.—No Bonds to be Issued.—S me time clusive.At Bonds are issued pursuant to Chapter 397, Laws of
1898.
the
since this city bad under consideration the issuing of $150,- was not known.time of going to press the result of this 3ale
000 of bridge bonds. Upon inquiry we learn that nothing Bond Sale.—This city has recently sold $3,500 bonds to be
whatever has been done looking towards the issuance of placed to the credit of ihe street-cleaning land.
such bonds, and “likely never will be.”
Stockton Township. Camden County, N. J.—Bond Sale.— Wail ley, Ga.—Bond Offering.—Proposals will be received
Edward C. Jones Co . New York, have purchased the §50,000 until October 1, 1898, by S. C. Evans, Mayor, for $7,000
5% 10 year sewer bonds recently authorized.
Sycamore (III.) School District.—Bond Sale.—On Sep­ school house bonds.
tember 2, 1 98, the $I5,0(’0 4l/ zi school building bonds were The official notice of this bond offering will be found among
awarded to Trowbiidge, MacDonald & NiverCo., Chicago, the advertisements elsewhere in this Department.
"0

hron

ic l e

IN V E S T M E N T S .

W. Hampton Wade,
A T T O R N E Y -A T -L A W ,

SAVANNAH, G E O R G IA .
N ine year? p ractice in A labam a.
Six years in G eorgia.
C o rp o ra tio n L a w a S p e c ia lty .

M A S O N , L E W IS

Sc

C O .f

BANKERS.
M ilk S t r e e t , B o s to n .
1 7 1 L a S a l l e S t r e e t , C h ic a g o ,
O FFE R FOR S A L E :

S t a t e o f M a v a n c liu p e ttM ........................................3H*
E a a t c h e a t e r . N , V ...................................................... 4m
(• la N lo n lm r y . C o n n .................................................. 4*
S t o w e . V t....
......................................................4m
R e n o C o u n ty . K n i i - n * ............................................
L a k e C o u n tv . I m l..............................................5*
M o m e iic e , i l l
......................................................... 5m

IN V E S T M E N T S

IN V E S T M E N T S

Whann & Schlesinger, Clearfield &Mahoning RR. 1st 6s, 1913.

Staten Island Ry. 1st 4)£s, 1943.
Heretord Ry. 1st 4s, 1930.
M U N IC IPA L BONDS, Detroit Railway 1st 5s, 1924.
Denver, Col., 6s, 1915.
Topeka, Kan., 5s, 1912.
71 BROADWAY, NEW YOKE.
Berkley, Va., 6s, 1928.
Douglas Co., Ga., 6s, 1913-1918.
T R O W B R ID G E ,
M a c D o na l d
& Ni v e r C o .

M UNICIPAL BO N D S,
1st Nat. Bank Bldg. . . CHICAGO

C.

PRICES ON APPLICATION.

H. W H IT E & CO.,
BANKERS,

31 NA SSAU S T .. NE *' Y O K K .

M. A. Devitt & Co., Francis Ralston Welsh,
INVESTMENTS.
U
ND
F. R. FULTON & CO., M ir s tNNIaC InPa ABLa n kBBOu ild in gSs . Municipal, Railroad and other
F
tio l
And Other Desirable Securities.

M u n ic ip a l

B onds,

171 LA SALLE STREET
_____ C HICAGO.

W. J. Hayes & Sons,
BA NK ERS,

D E A L E R S IN M U N IC IP A L B O N D S

B treet

B onds. and o th e r h ig h -g ra d e in ­
vestm en t* .
B O STO N , M ASS.,
C l e v e l a n d , O h io ,
T l i o l * n » e Place.
3 1 1 - 3 1 3 S u p e r i o r S t.
R ailw ay

Oobit A <Mr,ju. “ K B t r r fV T H .”

M UNICIPAL

BONDS.

Securities Netting from 3}£ to 6i
AI.W AYS ON HAND.

Send fo r o a r In v e s tm e n t C ircular.

D U K E M. F A R S O N , Banker,

M unicipal B o n d ..

181i D e a rb o rn S tre e t

Ch i c a g o .

__________ C H I C A G O , __________
M U N IC IP A L

BONDS.

E. C. S t a n w o o d & C o .
BANKERS,

BONDS.
828 CHESTNUT STREET P H IL A D E L P H IA .

GO OD

INVESTMENTS

N E T T IN G 5 TO 8 P E R CENT.
121 Devonshire Street.
W a s h in g to n W a r r a n t s , B onds a n d S e e m I
tie s o f a ll kind* B o u g h t a n d s o ld .
___________ B O S T O N . ____________

William E. Nichols,

13 W A L L STREET,

- NEW YORK

M U N IC IP A L W A R R A N T S .
BUND FOB

LISTS’

CHOICE MUNICIPAL BONDS
from S O U T H E R N & W E S T E R N states,
yielding 4 to 5%g.
ROSENBERGER & LIVERMORE,
F o r t y W n ll S tre e t, N ew Y o rk .

CALVIN PHiL PS,
307-8-9 CALIFORNIA BUILDING,

TACOM A.

-

W A S H IN G T O N .

Fred. H. Smith,

!fO. 8 B R O A D S T R E E T N E W Y O R K .

STOCKS AND BONDS.

MARGIN AOOOUNTS SOLICITED.
IN T E R E S T A L L O W E D O N B A L A N C H 8 .

vlarket Letter on Application. Correspondence
Invited. Established 1808
ill classes of Unlisted Securities and
Stocks Bought and Sold.

Traction

THE CHRONICLE

552

Walla Walla County (Wash.) School District No. 1.—
Bids.—As stated in lasi’week'a issue of the Cbroniclk, the
$30,000 r> school bonds were awarded on August 15 to N. W.
5
Harris & Co., Chicago, at 101-75 for 5s. Following are the
bids:
Hand. Premium.
ikrtnU.

For 5% Hands
&

l*rrmium.

r
FPr W
1
Roberta B n » , Spokane.......... $i,Hh Estate of n. S B ak er.................$151
F orest
I K. H. Rollins Sons. Denver...... 126
l»t*nIsois. Prior A Go-. Clove...... 11,285 I First Nnt. Rank. Walla W alla....... 100
K- 1C Fnlton A Co .Grand Forks,
Mortis A Whitehead............. ...... 30
S . Dak...................................
71 |IN P. StWgis
'
$4*000)............. Par
Spokane A Eastern Trust Co... .
5 M. McCarthy (for $500)...............Par
Fbr&fc Bands.
-••mud Fund
.............I‘ar
N. W. Harris A Co .Chicago*_
_
$525 I Harry Knits (Je*a$582 50c o t u P a r
Mason. Lewlj* A Co.. Chicago... .
4M i
>
45
W. J. Havci A Sun-*, Clevi laml..
76* ! Marv E. Leggett (for $2,000).......Par

[tot

■

tar

Hand.

Walnut Drove, Minn.—Bond Offering.—Proposals will be
received until 7:80 r. , September 28, 1888, for $8,500 6*
water works bonds. Bonds are dated September 28, 1898,
and mature $700 yearly on June 1 from 1890 to 1808, in
elusive.
Walton (Delaware County, N. Y.). Union Free School
District No. 1.—Bond Sale.—On September 1, 1898, tbe
$10,000 4:1 coupon bonds were awarded to Walter Stanton
<5trCo., New York City, at 107'38. Following are the
bids:
m

G eorge 51. H a h n , New 5' o rk .... 107 -0'J ! D enison. P rio r A Co.. B o sto n ... . 104*20
It. B. S m ith A Co.. New Y o rk lOtVOS 1 W . J . H a y e s & S ons. B o sto n ......... 104*27
R udolph K ley bolt e A C o.,C lncbil 06*8P3 I B e rtro n A S to rrs, New Y ork......... 104*25
A lb a n y Ex c h a n c e ftav. B u n k ,. . 105*25 | D aniel M oran A Co , N ew Y ork. . 1<M'13
S tre e t. W yfces & Co.. N ew Y o rk .l 05*i0 I F arson. L each A Co., New York . 104*08
Isa a c S b errili. P o u g h k e e p sie __ 104*85 j H o m e S av in g s B ank, All?any. . . ' 04*00
C. H . W h ite A * o.. N ew Y o rk ,. . 104*75 B en w ell A E v e ritt, N ew Y ork— 103*70
E d w. C. J o n e s Co., N ew Y o rk ... 104*05 !
Waller Stanton & Co., >’. Y ..... 1W38 I IV. M. Pec*................................10i'f>o

Principal matures $9,000 yearly on July 1, from 1914 to
1918, inclusive. For description of bonds see C hronicle Aug­
ust 20 1898, p. b90
Washington (Iowa) School District.—Bond Sale —This
district recently sold $9,000 4s refunding bonds to the Wash­
ington National Bank. Principal will mature $L,000 yearly.
These bonds were not advertised.
Waynesburg, Pa.—Bonds Defeated.—At a recent election,
tbe question of issuing $19,000 sewer bonds was defeated.
Westchester County (P. 0. White Plains), N. Y.—Bond
Sale.—On September 8, 1898, the8*4,978 4£bridge bonds were
awarded to Farson, Leach & Co., New York, at 103'25. Fol­
lowing are the bids:
M ISC ELLA N EO U S.

I860.

(VoL, LXV n

Faraon, Leach A Go., New York.I O -36
H
1. \V, Sherrill. Poughkeepsie— 103*20
Westchester Trust Co . ........103'02
Edw. C. Jones Co.. Now York. ,.1"3 019
Jose. Porker a Co.. Boston...... 102*01
Geo. M. Hahn. Now York......... u>2*87
Bon well A Everitt, Now York. ..I02*rt;'fl
Wbann Scblestager, N. V .. .102*617
W .J. Hares A 8oos. Cleveland. 102*66
Allen & Bands, New York........102*62

\

Active a nd Successful A gents , w ishing to repre­
sent this C om pany , m ay com m unicate w ith
R IG H A R D E. COOHRA .V,3d Vice-President,
at the Hom e Office, 2 0 1 Broadw ay, New York.
o f f ic e r s :
G E O R O E H . B I J R F O R D ................ P r e s i d e n t

GEO. G. W IL L IA M S.................................V ice-President

C .P. F R A LE IG H ....................... 2d Vice-president
RICH AKD K. COCHRAN........... SC Vr.c-rresidcni
A . W H EELWRIG 1 ............................. Secretary
J
J L. KEN W A Y ........................AW9a*i*»"rw-.-rctary
W IL L IA M T. STAN DEN.............. ......... . . ...
AR T H U R C. PE R R Y .......................
... • tuUler
JOHN P. M U N N ............................MdtJWoriiirector

V

FINANCE COMMITTEE :

GEO. G. W IL L IA M S ............Pres. Chem. Nat. Bank
JOHN J. TUCKER................................. ...Builder

E. H . P E R K I NS, J b . .. Prea. Im p. A Trad ers’ N at. B k.
J A M E S R. P L U M ............................................ Lear her

“P U B L I C A T I O N B Y T H E M A N H A T T A N
I
C O M P A N Y , New York, of the moneys re­
maining unclaimed, in accordance with Section 2
ft.
Article l. Chanter 080, of the Banking Laws of 18&
2,
state of New York.

Bonds mature $5,000 yearly on September 15 from 1915 to

1917, inclusive. For further description of bonds see Chron­
icle August 27, 1898, p. 447.

Youngstown, Ohio.—Bond Sale.—On September 5, 1898,
the $950 5% sewer-bonds were sold to the Mahoning National
Bank, Youngstown, at 101'60. Principal will mature $200
October 1, 1900, and $250 yearly- on October 1, from 1901 to
1903, inclusive. For farther description o f bonds see C
­
August 27, 189S, p.J417.
hron

ic l e

M ISC ELLA N EO U S .

Fred. M. Smith,

OF MILWAUKEE.

C A P IT A L ,
SURPLU S,

0,000

Transacts a General Banking and Foreign Exchange
Business. Collections receive Special Attention.
OFFICERS:
F. G. B ig e l o w , Preset.
F. J. K i p p , Cashier,
W m . B ig e l o w , V-Prest, T. E. Ca m p , Ama’f Cashier.
c
F. E. KiiDEGKIi, 2d AssT Cashier.

San Francisco.
The First National Bank
O F S M FRANCISCO , CAL.

TJNTTKD STATUS DEPOSITARY
C ap ital, £ 1 ,3 0 0 ,0 0 0 I S u rp iu ., 8 1 ,0 0 0 .0 0 0
S. G. Mu r p h y , President. Ja s . K. L y n c h , Cashier
J a m e s M o sfitt , V.- I'reo. J. K. MoPPiPi, Ast. Cush.
General Banting Business. Accounts Solicited.

*«;

of

:*-----*:

ISBAL .
*
:......... :

w. s.Notary Public,
Johnson.
M.

Y.

County l

EDW IN R. LANCASTER,
I N V E S T M E N T S E C U R IT IE S ,

H o a tb ern S c c a rltie a a Specialty.
J l W A L L HTRBKT,
NEW YORK

A u c t io n e e r *

A p p r a is e r

The Mutual Benefit

L I F E I N S U R A N C E CO.* N E W A R K * N . J

N e g o tia to r ’

RBALI2R <;UICKL y !*T ^ * " ,* rH“ WttWn»
Makes a Specialty of Selling Securities for MUNIC­
IPA LIT IE S and CORPORATIONS, that roquiresextensive advertising for purchasers,
Makes a Specialty of NEGOTIATIONS for HOTEL.
PROPERTY, SECURING LEASES, APPRA ISIN G
FURNISHINGS, BUYING and SELLING.
Business connections with Syracuse. Headquar­
ters, Yates Hotel.

Bankand TrustCompany StocksNew York and Brooklyn
B O U G H T AN’B S O L D .

C LIN TO N

>
NEW
O RLEANS, LA.
(Successor of N. O, Canal A BauhlDK Co.)
C A P I T A L , 8 1 ,00 0.000
J. C. MORRIS, President. EDW ARD TOBY, Vice
Pres. EDGAR NOTT. Cashier.
Correspondents—National city Bank. Nations
Bank of Commerce, New York; Boatmen's Bank St,
Louis; N. W. National Bank, Chicago; Merchants'
National Bank. Boiton-

and

Makes a Specialty of Selling R E A L ESTATE and’

Canal Bank

I

State of New York, City and County of Now York,
J. T. Ba l d w i n , Cashier of the Monlmi tan CoBo*
pony
New York, being duly sworn* say a the fore
going Is in all reaped# a true statement to the best
of his knowledge and belief.
J. T. B A LD W IN , Cashier.
Sworn to before mo this 15th day of August, 1898.

70 S O U T H S T R E E T *

AUBURN, NUW TO BK ,

8 1 ,0 0 0 ,0 0 0

D A N K OF CH A R LESTO N.
D
N ATIO N AL BANKING ASSOCIATION
_
„
C H A R L E S T O N , SO . C A R . _
1802— Colea, Catharine s.. Trustee, unknown. ?04 30
1890- Kifih, Estate Calharlnc B., unknown. . 0U D» CAPITAL..................................................$300,000
18 IJI—Garni »s, David K,, New York ........ ini 48 SURPLUS........................ ........................$100 000
1.*88-t3 uichinaon, Estate Win., unknown ..1,01*3 28
16*3—Luyster, Isumc . . . ........... . .... 65147
1803—Watrous, Estate Chark-9, New York..,. 67 1
0
DNCLA IM ED I) IVID EN DS.
< 2DlvldenunJenkins. Margaret, unknown 272 00
5
89
‘‘
Keele, Thorna*. unknown.... 387 50
105
“
M p«, Henry, unknown.........3,716 00
««,
110
”
Murphy, Johanna, unknown. 200 4k

j

U, M. Stoddard, Minneapolis.? 1 50 oo I Minn. Loon A Trust Co. - __ $16,400 C
5.7
O
Farson. Leach A Co., Chicago. 15.007 oo W.J H a Yes A Sons.Clcveluua i5.:)i3 00
First National Bank. Winona. 15,000 00 |Kane A Co., Minnefiuolla..... 15,327 05
Trowbridge, MacDonald A
i Second Nai. Bank, Winona.. 15,242 00
Niver i o.. Chicago........ .
15.513 60 Briggs, Smith A Co., Cincln.. 35,202 50
Winona Deposit Bank ........ 15,38.4 75 |Denison, Prior A Co., Cleve . 15,112 00
N. W. Harris A Co., Chicago.. 15.47H 00 J8. A. KeAn Chicago _____ .. 15,100 6
0
Adams A Co., Boston ........ 16.450 no |Rudolph Klcyholte A Co.,CinMasou, Lewis &Co., Chicago. 15,417 50 | ciimati___________________ 15,075 00-

1898. FIRST NATIONAL BANK

IN T H E C I T Y O F N E W Y O R K .
A l l P o l i c i e s n o w Jam ied b y t h i s C o m p a n y
c o n t a in t h e f o l l o w i n g c la u s e s *
“ A f t e r o n e Y e a r lr o r u t h e d a t e o l I n s u e , t h e
l i a b i l i t y o l tb e C o m p a n y u n d e r t h is p o lic y
nhn.ll n o t b e d is p u t e d .”
“ T h i « p o l i c y c o n t a in s n o r e s t r i c t i o n w h a t ­
e v e r u p o n t h e In s u r e d , in r e s p e c t e i t h e r o i
t r a v e l , r e s id e n c e o r o c c u p a t i o n . ”
A l i D e a t h C l a i m s p a id W I T H O U T D I S ­
C O U N T a * s o o n an s a t i s f a c t o r y p r o o fs h a v e
b ee n r e c e iv e d .

&

Bonds mature $19,090 yearly on June 1. from 1909 to 1904,
and $14,974 in 1905. For farther description of bonds see
Chronicle last week, p. 500.
White County (P. 0. CarmI), 111.—Bond Sate.—An issue
of $233,009 4J44 bonds has been sold to the Mississippi Valley
Trust Company at 102-775. Securities are in denomination
of $1,009 Principal will mature $14,090 yearly, commenc­
ing July 1, 1899. These bonds are issued to refund a like
amount of oi railroad-aid bonds, which, as slated in tbe
Chronicle of August 27, have been called for payment Octo­
ber 1,1898.
gasjr s s ?
Williamsport (Town). Md.—Afo Bond Issue at Present.—
There has been talk of issuing $20,000 eiectric-light and water
bonds, but we are advised by the Town Treasurer that noth­
ing definite has been done in the matter.
Winona (Minn.) School District.—Bond Sale.—b n Sept­
ember 2, 1898, the $15,000 4;, school bonds were awarded to
U M. Stoddard, Minneapolis, |at 105. Following are the
bids:

M ISC ELLAN EO U S .

The United States Life
Insurance Co.

H. K leybolt e A Co.. New York .10251
Bertron A Siorrs, Now York . ..102*- 7
Walter StantOb A Co- N. V ..... 101*80
E H. Rollins Sons, Boston ...101*039
I). A. Moran A Co., New York.-.l0P0?5
duo 1 O .1 S 0
W O 0 .4 5
Purtchester 8av. Bis, >due mm,101**0
v due 1902.102*40
ClUena'Natlonal Bk..> duo 100 .100*00
Yonkers.......... ... Jdue lOul, 100*00

G ILB E R T

•A W A L L S T ,, N E W

YORK.

R A iM R J b lR S S
18

W A JL A s r « . i £ t s * \ M S W
j

¥ (> K K .

K M u b lU h o d lM iD .
tfEMBERS OK NEW YORK STOCK Ka C 1 U « G »
/vtlow lnieresi on deposits »uojcct te oight chtc*ouy uno sell on coumilssion stocks and t>oud» elthei
lor oiton or on muiglii, ana deal In
l la v WHlim a * J*w w F t U ^ .
<*
a . J. m o r s k . Gr a s . d . m a u v i n . W . m . k i d l k k .

u

SECURE BANK VAULTS

A.MZl DODD, President.
A*«et* (Market Valuer) Jan.1,1898....,f63»fl^,7i0 84
LiabimioK (N. .(..and N. Y. Standard).. 68^(34,824 60
Surplus..................................... ........ 4*784,025 2
4

POLICIES A II8 OLD TEL NON F O R F L IT A IJLE
SECOND YEAR.

FTKR

IN c a p e of l a p s e the Insurance Is c o n t in u e d in
FORCE as long a s the value of tbe Policy will pay for;
or. if preferred, a Cash or Paid-up Policy Value ia
allowed.
After the second year Policies are I nco n testa ble ,
travel occupation

andrent restrictions as to residence,
are all avert.

or

fisasa#**1 *
-

G ENUINE

WELDED CHROME ST EEL AND IRON..
Round and Flat, Bars and fi-ply Plates and Angles

FOR SAFES, VAULTS, Ac.
11 Cannot be Sawed, Cut, or Drilled, and positively &

Burglar Proof.
The Company agrees In the Policy to Loan up to
CHROME STEEL W ORKS,
the Cash Surrender Value when a satisfactory as­
signment of the Policy is made as collateral security .
Kent Ave., eap Hooper Ste.
Losses paid Immediately upon completion and an Sole Man’f ’ers In th
B R O O K L Y N , N. V
proral of proofs.

&