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GENERALLIBRARY)
UNIV. OF
Bank &
.
MICH,
Railway & Industrial Section
Bankers' Convention Section
Quotation Section
Railway Earnings Section
Copyrighted in 1910, by William B. Dana Company, New York.
Electric Railway Section
State and City Section
Entered at N. Y. Post Office as second class mail matter.
NEW YORK, SEPTEMBER 10 1910.
VOL. 91.
NO. 2359.
gitramcial.
gittauxtal.
THE FARMERS’ LOAN & TRUST
COMPANY
Foreign Exchange, Cable Transfers,
Letters of Credit, Payable throughout the world
The Company is a legal depositary for
moneys paid Into Court* and Is authortoed to act as Executor, Administrator.
Trustee, Guardian, Receiver, and In all
other fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
Transfer Agent and Registrar of Stocks
and Bonds.
Reoelves deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on dally balances.
Manages Read Estate and lends money
Harvey Fisk & Sons
NEW
YORK
BANKERS
Government,
THE
Railroad
LIBERTY
and
Municipal Bonds
NATIONAL
INVESTMENT SECURITIES
PHILADELPHIA, represented by
JAMES H. CHAPMAN, 421 Chestnut St.
CHICAGO, represented by D. E. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON, 25 Congress St.
BANK
OF NEW YORK
139 BROADWAY
as
bond and mortgage.
Will act as Agent In the transaction
any approved financial business.
on
The National Park Bank
of New York
of
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
New York.
Fiscal Agent for States. Counties and
Cities.
16-22 WILLIAM STREET
Organised 1858.
Capital
Surplus and Profits
Deposits June 30,1910
.
.
.
$5,000,000 00
12,300,000 00
117,757,107 S6
RICHARD DEL AFIELD,
President.
JOHN O. MeKEON.
GILBERT G. THORNE.
Vice-President.
Vice-President.
475 FIFTH AVENUE
JOHN C. VAN CLEAF.
Vice-President.
NEW YORK
MAURICE H. EWER.
Cashier.
LONDON
PARIS
WILLIAM O. JONES.
Asst. Cashier.
WILLIAM A. MAIN.
N.W. HARRIS & CO
BANKERS
Pine Street, Corner William
NEW YORK
85 Federal St.. Boston
Reoelve
and
Act
deposits subject to check
allow Interest on balances.
as fiscal agents for
munici¬
palities
letters,
and
of
oorporatloi s
credit
and
Issue
deal
In
BONDS FOR INVESTMENT
Asst. Cashier.
FRED’S O. FOXCROFT, Asst. Cashier.
LIST ON APPLICATION
THE
Edward B. Smith & Co.
MECHANICS AND METALS
BANKERS
NATIONAL BANK
INVESTMENT SECURITIES
Members of Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
BANKERS
Comer 9th and Main Streets
RICHMOND, VA.
Baltimore Correspondents:
MIDDENDORF, WILLIAMS A CO.
Members New York and Phlla. Stock Exchange
33 Wall Street
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner 5th Ave. and_23rd St., New York.
Capital, $ 1,000,000
N. E. Cor. Broad & Chestnut Sts.,
Capital,
Surplus,
....
$6,000,000
6,000.000
Surplus, $ 1,000,000
RUEL W. POOR. President
JAMES McCUTCHEON, Vice-Pres.
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW. Asst. Cashier
Chase National Bank
Clearing House Building
Cap. & Surp., SlS.472.6Si
Philadelphia
17 Pine Street, New York
ORIGINAL CHARTER 1829
THE
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
OF RAILROAD, GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
OF THE CITY OF NEW YORK
Dep., S92.787.537
A. B. HEPBURN, President
A. H. Wig gin. V.-Pres. C. C. Slade, Asst. Cash.
S. H. Miller, V.-Pres.
E. A. Lee, Asst. Cashier.
H. M. Conkey, Cashier W. E. Purdy, Asst. Cash.
A. C. Andrews. Asst. Cashier
109-111 SOUTH
FOURTH STREET
PHILADELPHIA
Capital
.... $1,000,000
Surplus and Profits (earned)
2,450,000
OFFICERS
THE
EQUIPMENT OF THE
FOURTH
NATIONAL
BANK
OF THE CITY OF NEW YORK
-CORNER NASSAU AND PINE
STREETS—IS
of
Philadelphia
ESPECIALLY
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
First National Bank
315 GHESTNUT
ACCOUNTS
STREET
INVITED
SAMUEL WOOLVERTON. President
ADRIAN ISELIN JR.. Vice-President
GEORGE B. LEWIS. Cashier
HOWELL T. MANSON, Asst. Cashier
DIRECTORS
Adrian laelln Jr.
Frederic W. Stevens
Alexander H. Stevens
W. Bmien Roosevelt
Chafl. A.
Peabody
Samuel Woolverton
Charles H. Tweed
Thomas Denny
u
THE CHRONICLE
[VOL.
LXXXX1.
Xatriuvs and jp*avrtvs at Mofteigu fgsjclumgje.
J. P. MORGAN & CO.
DOMESTIC AND FOREION BANKERS
Wall Street Corner of Broad
Maitland, Coppell & Co., Kidder, Peabody & Co
52 WILLIAM STREET
NEW YORK
NEW YORK
DREXEL ft CO*
PHILADELPHIA
Corner of 6th end Chestnut Streets
MORGAN, GRENFELL ft CO* LONDON
Lettere
No. 23 Old Broad Street
HARJEsT
MORGAN,
&
CO*,
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
issue Loans.
Bills of Exchange*
Telegraphic Transfers,
of .Credit
Union
of
&
London
Deposits received subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange, Commercial Credits
Cable Transfers
Circular Letters for Travelers available in all parts
of the world
Brown Brothers A Co.,
Bank.
Limited.
Messrs. Mallet Freres & Cle., Paris,
Banco Nacional de Mexico
And its Branches.
Agents for the Bank of Australasia, the British
6u< na Bank, Demerara, etc., etc.
ALEX. BROWN & SONS, BALTIMORE.
Connected by Private Wire.
No. 23 NASSAU STREET.
Members New York Stock Exchange.
BOSTON.
Meins, N. Y., Phila., Boston & Balt. Stock Exch’s.
Buy and sell first-class Investment Securities on com- I nupetm pnt1
mission.
Receive accounts-*■■*-*■ *'■'01.11.1till,
of Banks, Bankers, Corpora- o
* *
tlons, Firms and Individuals OCCliritlCS
Messrs.
00.
LTD.
LONDON
BANKERS
NEW
YORK
DRAW BILLS OF EXCHANGE AND MAKE
for Travelers
TELEGRAPHIC TRANSFERS OF MONEY TO
Available in all parts of the world.
EUROPE AND CALIFORNIA
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE, Cuba, and the
other West Indies. Mexico and California.
orders
Seligman & Co.,
Letters of Credit for Travelers.
Available in all Parts of the World
ROTHSCHILD.
London, Paris and Vienna.
Execute
_
&
Issue
ISSUE LETTERS OF CREDIT
on
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT.
T
Buy and sell Bills of Exchange
X^CtLClS and make cable transfers on all
t
points. Issue Commercial and
HT f .Tf»rl If Travelers’ Credits, available in
tLilL an
parts of the world.
BROTHERS
Buy and Sell Investment Securities
Agents and Correspondents of the
_
favorable terms.
Collect
drafts drawn abroad on all points in the United
States and Canada; and drafts drawn in the United
States on foreign countries. Including South Africa.
Correspondents of
BARING
J. & W.
59 Wall Street
NEW YORK.
LETTERS OF CREDIT
TRAVELERS’ LETTERS OF CREDIT
Available throughout the United States
August Belmont & Co.,
BANKERS.
PHILA.
INVESTMENT SECURITIES.
FOREIGN EXCHANGE.
Smiths
London,
81 Boulevard Haussmann
STREET, NEW YORK
BANKERS
on
PARIS
the purchase
Bonds and Stocks.
for
and
sale
of
Seligman Brothers* London
Seligman Freres & Cie., Paris
Alsberg, Goldberg & Co.* Amsterdam
The Anglo and London-Paris National
Bank of San Francisco, Cal.
Graham, Vaughan & Co.,
BROWN, SHIPLEY & CO., LONDON
44 Pine Street. New York.
TAILER&CD
27 Pine Street, New York
BANKERS
IRedmond&Co.
INVESTMENT SECURITIES
BANKERS
MEMBERS NEW YORE STOCK EXCHANGE
31-33 Pine Street, New York
624 Fifth Ave., N. Y.
507 Chestnut Street,
BANKERS
Lawrence Turnure A Co.
INVESTMENT
64-66 Wall Street, New York
Deposits received subject
Members of the New York Stock Exchange
to draft.
Interest al¬
lowed on deposits.
Securities bought and sold on
commission. Travelers’credits, available through¬
out the United States, Cuba, Puerto Rico, Mexico.
Central America and Spain. Make collections in and
issue drafts and cable transfers on above countries.
London Bankers:—London Joint-Stock Bank,
Limited.
Paris Bankers:—Heine & Co.
Winslow, Lanier & Co.,
Bills of
Exchange and Cable Transfers.
Deposits
received subject to cheque
Interest allowed on deposits.
and
Members New York Stock Exchange.
Securities bought and sold
as
on
commission
Fiscal Agents.
Lists upon application.
NEW YORK
Produce
BANKERS
on
Credit and Travelers’ Cheques,
available the world over.
Dealers In High-Grade Investment Securities.
NEW YORK
Allowed
of
Act
59 CEDAR STREET
Deposits Received Subject
Philadelphia.
Cables "Mimosa.”
Letters
Bankers
SECURITIES
Exchange Bank
BROADWAY. Corner BEAVER ST.
to
Deposits.
Bought and Sold
Commission.
Draft.
Interest
Securities
Capital
...
Surplus earned •
on
Foreign
$1,000,000
500,000
Graham & Co.
Exchange
bought and sold. Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available in all parts of tbe world.
Foreign Exchange, Letters of Oredit
BANKERS
435 Chestnut Street
ACCOUNTS INVITED
PHILADELPHIA
Kean, Taylor & Co.
HEIDELBACH, ICKELHEIMER & CO.
BANKERS
37 William Street.
BANKERS.
Government
Securities
and
of
Municipal Bonds,
Railroads, Street
Railways and Gas companies
of established value.
MEMBERS N. Y. STOCK EXCHANGE.
80 PINE
Transact
a
STREET, NEW YORK
Execute orders for purchase and sale of
Stocks and Bonds.
General Foreign and Domestic
Foreign Exchange Bought and Sold.
Banking Business
Issue Commercial and Travelers* Credits
available in all parts of the world.
Dealers in Investment Securities
Schulz & Ruckgaber,
BANKERS.
John Munroe & Co.f
NEW YORK
15 William Street.
Members New
BOSTON
Commercial Credits.
Foreign Exchange,
Cable Transfers.
MDNROK & 00., Paris
-
York
-
Stock
-
-
New
1
Act
as
Financial Agents
Issue Foreign and Domestic Letter, of
Credit and Travelers’ Cheques
Knauth, Nachod&Kiihne
BANKERS
York
Exchange.
Correspondents of Messrs.
Fruhllng & Goschen, London.
John Berenberg-Gossler & Co.,
Hamburg.
Marcuard, Meyer-Borel & Cle., Paris.
Letters of Oredit for Travelers
,
116 DEVONSHIRE STREET, BOSTON
Bremer Bank Flllale der Dresdner Bank,
Bremen.
Issue Commercial & Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfers & Investment Securities
MEW YOKE
LEIPSIG, GERMANY
Members New York Stock
Exchange.
INVESTMENT
SECURITIES
Sept. 10
1910.]
THE CHRONICLE
panlUK*.
S&ttfeevs.
Millett.Roe & Hagen
Lee, Higginson&Co.
New York
I Bank
BANKERS
Wm. A. Read & Co.
BOSTON
S3 Wall Street
BANKERS.
Chicago
HIGGINSON
hi
Dealers In
Members New York, Chicago and Boston
Stock Exchanges.
&. CO.
Buildings, Prince’s Street,
LONDON, E. C.
New York
Investment Securities
HIGH-GRADE BONDS
Members New York Stock Excdange
Boston, 15 Congress Street
25 NASSAU STREET,
NEW YORK
Plympton,Gardiner& Co.
BOSTON
BALTIMORE
CHICAQO
N. W. HALSEY & CO..
LONDON
Banker.
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Interest AUowed
Conservative Investments
LISTS ON BEQUEST
CHICAGO
54 Old Broad Street,
LONDON, E. C.
'
Deposit Accounts
.
27 William St„ New York
232 La Salle Street,
on
Fiscal Agents for cities and Corporations
Rhoades&Company
40
Wall Street, NEW YORK
Philadelphia
Chicago
San Francisco
BANKERS
45 WALL STREET. NEW YORK
George P. Butler & Bro.
85 Wall Street
High-Grade Bonds
Trowbridge & Co.
State,
Municipal
and
NEW YORK
Members N. Y. Stock Exchange
Railroad
RAILROAD AND OTHER
INVESTMENT SECURITIES.
BANKERS
Members New York Stock
Exchange
Members New York Stock Exchange; Execute
Commission Orders; Deposits received subject to
draft.
Cor. of Wall and Broad Sts.. New York.
Letters of Credit and
Travelers’ Checks
Bonds and Stocks
for Investment
Available
Throughout the World
HARTFORD—36 Pearl Street
NEW YORK
111
NEW HAVEN
Broadway
134 Orange St.
H. B. HOLLINS & CO.
Goldman, Sachs & Co.
Draw Bills of Exchange and make Cable
Transfers to Europe, Asia, Australia, the
West Indies, Central and South America and
Mexico.
Issue Letters of Credit for Travelers, avail¬
able in all parts of the world.
BANKERS
60 WALL STREET,
NEW YORK
Members of New York Stock Exchange.
SIMON BORG & CO„
BANKERS
Executes orders for
purchase and
saleof Stocksand Bonds.
Buy and Sell Foreign Exchange.
Blake Brothers & Co.
50
Exchange Place,
14 State Street,
NEW YORK
CABLE ADDRESS "COLDNESS."
BOSTON
Issue
Dealers In
NEW YORK CITY
Investment
DEALERS IN
Securities
and Commercial
INVESTMENT SECURITIES
Members New York & Boston Stock Exchange*
Paper
Zimmermann & Forshay
BOISSEVAIN & CO.
Members New
York Stock Exchange.
ment or on
Adolph Boissevain & Co..
Amsterdam, Holland.
TRANSACT A GENERAL BANKING
STOCK EXCHANGE B USINESS.
margin.
Foreign Exchange Bought and Sold
Letters of Credit issned
AND
Cable
Transfers
to
all
Parts
of
the
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT SECURITIES
Members New York Stock Exchange
and Boston Stock Exchange.
INVESTMENT SECURITIES
Wollenberger & Co.
v *3
Specialists In
Foreign Government Bonds
206 La Salle Street
-
-
CHICAGO
34 LaSalle St.
CHICAQO
LEONARD H. HOLE
W. N. COLER & CO.
BANKERS
World.
43 CEDAR
ST., NEW YORK
INVESTMENTS
CRAMP, MITCHELL & SHOBER
BANKERS
BOSTON
New York
-
HIGH-GRADE
BIROS. COLER
BOND & GOODWIN
Ill Broadway
NEW YORK
Street,
Orders executed for stocks and bonds for Invest¬
Members New York Stook Exchange.
35 Congress St.
Nassau
Correspondence Invited.
9 and 11 Wall Street. New York.
BROAD STREET.
NEW YORK.
30
BANKERS
BANKERS
24
■o.
York Stock Exchange
Available In all parts of the world.
and other MUNICIPAL BONDS
COMMERCIAL PAPER
Commercial and Travelers’
Letters of Credit
Members of New
BANKERS
1411 Chestnut St.
Philadelphia
Members New York and Phlla. Stock Exchanges
Investment Securities
Shoemaker, Bates & Co.
BANKERS
fNew York Stock Exchange
Members! New York Cotton Exchange
(.Chicago Stock Exchange
INVESTMENT
SECURITIES
37-43 Wall Street, New York
Waldorf-Astoria and 506 Fifth Ave., New York
Real Estate Tr. Bldg., Phlla.
TIIE CHRONICLE
gorceign.
[VOL.
LXXXXI.
Smdbtn.
,
MONTREAL
DEUTSCHE BANK The Union Discount Co. BANK OF
(Established 1817)
BERLIN W
of London, Limited
CAPITAL paid in - - $14,400,000 00
Behrenstrasse 9 to 13
t.
39
CORNHILL.
Telegraphic Address, Udlsoo, London.
347.619.000
CAPITAL.
M. 200.000.000
$25,172,895
RESERVE
Capital Subscribed
Paid-Up
Reserve Fund
3,750,000
2,900,000
55= £1 STERLING.
Dividends paid during last ten years:
11. 11. 11. 11. 12. 12. 12, 12. 12. 12 H per cent
IS
NOTICE
HEREBY GIVEN that the
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call. 1H Per Cent.
At 3 to 7 Days’ Notice, 194
BREMEN,
DRESDEN, FRANKFORT-O-M.,
LEIPSIC,
MUNICH.
HAMBURG,
NUREMBURG. AUGSBURG.
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
CHRISTOPHER R. NUGENT. Manager.
(Berlin) London Agency
Deutsche Bank
.4 George Yard, Lombard St..
LONDON, E. 0.
Head Office—Montreal
NEW YORK OFFICE,
BRUSSELS. CONSTANTINOPLE
and the
681,561 44
Rt. Hon. Lord Strathcona and Mount Royal,
Q. C. M. Q., G. C. V. O.—Honorary Preslden
R. B. ANGUS, President.
Sir Edw. Clouston, Bart.—V.-Pres. & Gen. Mgr
Per Cent.
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
WIESBADEN.
12,000,000 00
-----
UNDIVIDED PROFITS,
$7,500,000
M. 105.726.104.
Branches:
REST,
The London City &
Midland Bank, Limited,
64 WALL STREET
R. Y. HEBDEN,
)
W. A. BOG,
^Agents.
J. T. MOLINEUX,J
Buy and Sell Sterling and Continental Exchange
and Cable Transfers: grant Commercial and Trav¬
elers* Credits, available In any part of the world:
issue drafts on and make collections In Chicago and
throughout the Dominion of Canada.
London Office. 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLbR, Manager.
HEAD OFFICE
5 Threadneedle Street,
BANCO ALEMAN TRANSATLANTIC!)
With
London, England.
Branches In all the Principal Cities and
Towns of Englahd and Wales.
Telegraphic Address: Cinnabar, London.
(Deutsche Ueberseelsche Bank.)
SUBSCRIBED CAPITAL
($7,143,000)
ESTABLISHED 1836
PAID-UP CAPITAL
M. 22.500,000.
($5,357,000)
SUBSCRIBED CAPITAL, $95,741,700
RESERVE FUND..
($1,625,000)
M. 30,000.000.
----
6.827,000.
HEAD OFFICE
M.
PAID-UP
CAPITAL,
RESERVE FUND,
Eanonlerstrasse 29 to 30.
19,946,187
17,951,568
HEAD OFFICE MONTREAL
CAPITAL :
Rest and Undivided Profits
$6,000,000
4,602.157
NEW YORK OFFICE. 63 and 65 Wall St.
W. M. RAMSAY.
\Agents.
-
C. J. CROOKALl. )
147 branches In the Provinces of Quebec, Ontario,
Manitoba. Saskatchewan. Alberta and British
Columbia. Good faeU t.es for effecting prompt col¬
lections in Canada.
London Agents—Royal Bank of Scotland.
MUNICIPAL AND CORPORATION
Berliner
WOOD, GUNDY A CO.
Handels-Gesellschaft,
TORONTO
CANADA
BERLIN, W.f 64
Behrenstrasse 32-33 and Franzoslsche-Strasse 42
Drafts, cable-transfers and letters
of credit issued.
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’Y
GEORGE Y’D, LOMBARD ST., LONDON. E.C.
Telegraphic Address—Handelschaft, Berlin.
W. GRAHAM BROWNE & GO.
MONTREAL
ESTABLISHED 1856
Ctnadlan Bonds
Banking Transactions of Every
Direction der
Disconto-Gesellschaf t,
ESTABLISHED 1851
Capital,
-
-
-
-
Reserve,
-
-
-
-
CANADA
Bought, Sold and Appralsod
Description
M. 110,000,000
M. 34,500,000
2*0ret0ti.
-
VAN OSS & CO.
THE
BERLIN W., 43-44 Behrenstrasse
BREMEN, FRANKFORT-o-M., MAINZ,
HAGUE, HOLLAND
Place American Investments in
HOCHST-o-M., HOMBURG v. d. H..
Swiss Bankverein
POTSDAM, WIESBADEN.
LONDON, E. C..
Buy and sell Sterling Exchange
and Cable Transfers, issue Commercial and Trav¬
elers’ Credits available In any part of the world.
Canadian Bonds
Branches:
ARGENTINA: Bahla-Blanca, Buenos Aires,
Cordoba. Tucuman.
BOLIVIA: La Pax. Oruro.
CHILI: Antofagasta, Concepcion, Iqulque, Osorno,
Santiago, Temuco, Valdivia. Valparaiso.
PERU: Arequlpa, Callao. Lima. Trujillo.
URUGUAY: Montevideo.
advanced upon.
-
Sir EDWARD H. HOLDEN, Bart.,
Chirman and Managing Director.
BERLIN
SPAIN: Barcelona, Madrid.
Bills sent for collection, negotiated or
-
-
Merchants’ Bank of Canada
Schweizerischer
Bankverein
Bankverein
Europe
Tel. Address, Voco.
Codes: Hartfteld’s Wall St.. W. U. & Lleber.
Suisse
53 Cornhill.
Ba$le, Zurich, St Gall, Geneva
CAPITAL, fully paid,
Agencies at Rorschach, Chlasso and Herlsau
$40,476,200
-
M. 170,000,000.
RESERVE
$14,307,764
-----
M.
LONDON OFFICE, 43
60.092,611.
With the unlimited personal
liability
of the following partners:
A. SCHOELLER,
I
M. SCHINCKEL,
Dr. A. SALOMONSOHN.
E. RUSSELL,
F. URBIG,
Capital paid up, . Frs.62,800,000
Surplus, .... Frs. 16,330,000
Brasilianische Bank
The
fUr Deutschland
C4PITAL
RIO DE JANEIRO, SAO PAULO.
SANTOS, PORTO ALEGRE, BAHIA.
Branches:
Bank fur Chile und
Deutschland
M. 10.000,000 00
HAMBURG. WITH BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA), ANTOFA¬
GASTA, CONCEPCION, SANTIAGO, TEMUCO,
VALDIVIA, VALPARAISO. VICTORIA; AND
IN BOLIVIA (BANCO DE CHILE Y ALEMANIA, SECCION BOLIVIANA), LA PAZ
AND ORURO.
LONDON AGENTS:
DIRECTION DER DISCONTO-GESELLSCHAFTJ 6$ CORNHILL. E. C
National Discount
Company, Limited
M. 10 000.000 00
Head office: HAMBURG.
CAPITAL
Lothbury, E. C.
35
CORNHILL.
-
-
-
-
LONDON, E. C.
Cable Address—Natdls: London.
Subscribed Capital
Paid-up CapitalReserve Fund
($5=£1 STERLING.)
.$21,166,625
4.233,325
2,200.000
-
NOTICE
IS
GIVEN that the
HEREBY
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call. 1H Per Cent Per Annum.
At 3 to 7 or 14 Days’ Notice. 194 Per
Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from time to time ana for fixed periods upon
specially agreed terms.
•*
Loans granted on approved negotiable securities
PHILIP HAROLD WADE. Manager.
Hong Kong & Shanghai
BANKING CORPORATION
Paid-up Capital (Hong Kong Currency)
Reserve Fund/In Gold.. .$15,000,000/
\In Silver.. 16,000,000/
Reserve Liabilities of Proprietors
$15,000,000
31,000.000
15,000.000
GRANT DRAFTS. ISSUE LETTERS OF CREDIT.
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA, JAPAN, PHILIPPINES, STRAITS SETTLE¬
MENTS, INDIA.
WADE GARD’NER, Agent. 36 Wall St.
Wiener Bank - Verein
ESTABLISHED 1869
CAPITAL
(fully paid)
-
$26,342,009
-
(130.000,000 crowns)
RESERVE FUNDS
-
-
-
$7,900,001
(39,000,000 crowns)
HEAD OFFICE VIENNA
(AUSTRIA)
Branches in Austria-Hungary
Agram, Aussig a-E., Bieiitz-Biela,
Brunn, Budapest, Carlsbad, Czernowitz, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsen, Prag, Przemysl,
Prossnitz, St. Polten, Tarnow, Teplita,
Teschen, Villach, Wr. Neustadt.
branch in Turkey
Constantinople
J$EPT. 10
THE CHRONICLE
1910.]
T
gsntuess.
(Canadian.
THE CANADIAN BANK
OF COMMERCE
HEAD OFFICE,
U0.000.000
PA D-UP CAPITAL
6,000.000
SURPLUS
YORK OFFICE:
NEW
Nos.
AND 18 EXCHANGE PLACE
Gray and C. D. Mackintosh, Agents
16
Wm.
Mackay & Co.
TORONTO
Members N. Y. Stock Exchange
Buy and Sell Sterling and Continental Ex¬
change and Cable Transfers. Commercial and
Traveler’s Credits.
Collections made at all points.
Banking and Exchange business of every
scription transacted with Canada.
LONDON OFFICE—2 Lombard Street.
Edward Sweet & Co
Bankers & Brokers
Members of the New York
Stock Exchange. Dealers in
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
de¬
34 PINE STREET
E.C
BANKERS
NEW YORK
BANKERS IN GREAT BRITAIN.
The Bank of England,
The Bank of Scotland.
Lloyd’s Bank, Limited.
Union of London and Smith’s Bank. Limited.
National
City Bank Building
55 Wall Street
ESTABLISHED 1864
NEW YORK
The Bank of
British North America
Established In 1886
Incorporated by Royal Charter In 1840
ESTABROOK & CO.
£1,000.000 Sterling
600.000 Sterling
Paid-up Capital
Reserve Fund
BANKERS
London, E.O.
New York Office: 52 Wall Street.
H. M. J. McMICHAEL.T Agents.
W. T. OLIVER.
/
Buy and sell Sterling and Continental Exchange
Grant Commercial and
and Cable Transfers.
Travelers’ Credits, available In any part of the
Issue Drafts on and make Collections
world.
In all parts of the United States and Canada.
Bleotrio
Members New York and Boston
Stock Exchanges
Head Office:
5 Gracechurch Street,
WE OFFER
15 State Street*
24 Broad Street*
BOSTON
NEW YORK
BALTIMORE
Proven
and
Investment
Publio
Utility
Dealers
Securities
Correspondence Solicited
ELECTRIC BOND & SHARE CO.
R.
L. DAY & CO.
CHAS. MEREDITH.
37 Wall St.
(Paid-Up Capital and Surplus, $4,900,000)
71 BROADWAY
NEW YORK
35 Congress St.
BOSTON
NEW YORK
HIGH - 6RADE INVESTMENT BONBS
DIRECTORS:
ALFRED BAUMGARTEN
Bankers
CHICAGO
C. Meredith & Co., Limited
J. J. REED,
President.
Vice-President.
G. W. FARRELL. Secretary-Treasurer.
A. H. B. MACKENZIE. Manager.
Light, Power and Street
Railway Enterprises with records
of established earnings
INVESTMENT SECURITIES
HARTFORD
Bom! Brokers aid Financial Agents
WE FINANCE
C. R. HOSMBR
Gapt. D. O. NEWTON (Montreal)
O. B GORDON
H. ROBERTSON
MONTREAL
Munlolpal and Railroad
WILLIAM P. BONBRIGHT & COMPANY
Members New York and
Boston Stock Exchangee
BANKERS
Members of the New York Stock Exchange
Colorado
Springs
24 Broad Street
NEW YORK
COLORADO
Canadian
Investment Securities
Tucker, Anthony A Co.
London
ENOLAND
Electric Power Securities
BANKERS & BROKERS
CORRESPONDENCE SOLICITED
DOMINION SECURITIES
CORPORATION, LIMITED
Toronto
Montreal
94 BROAD BYNEW YORK
SB STATE 8TBOSTON
NORWICH Travelers*
NEW BEDYOBD
Members Boston and New York Stock
Exchanges.
HUNT & CUSHMAN
Investment Saourltlaa
INVESTMENT TRUST CO.
LIMITED
Agents
BOND DEPARTMENT
Canadian
35 Congress
CANADA
HANSON BROS.
Dealers In
Canadian Investment Securities
for our circular giving details
James St. Street
Bigelow & Company
New York
49 Wall Street
St., BOSTON
BERTRON, GRISCOM & JENKS
40 Wall Street,
NEW YORK.
Land Title Building.
PHILADELPHIA.
INVESTMENT SECURITIES
Send
Deposits Subject to Check
Alfred Mestre & Co.
BANKERS
BANKERS
Corporation Bonds
MONTREAL
on
SECURITIES
BANKERS
THE
Trustees-Transfer
INVESTMENT
Interest
London, Eng.
Cheques and Letters of Credit
MONTREAL
H. AMY & CO.
BANKERS.
44 and 46 Wall
Street* New York
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
Members of the New York
Stock Exchange.
Dealers
Municipal, Railroad and
Equipment Bonds.
Interest allowed on deposits
Subject to Draft.
in
37 Wall St.
NEW YORK
130 S 16th St.
PHILADELPHIA
yi
THE CHRONICLE
SSaufejett* atxtf
LOUISVILLE.
PORTLAND, ORE.
INVESTMENT BONDS
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE. KY.
J. S. &W. S. KUHN
BANKERS AND BROKERS
INVESTMENT BONDS
STREET RAILWAY SECURITIES
Incorporated
Pittsburgh, Pa.
James S. Kuhn,
President.
A
L. L. M’Clelland.
See. & Treas.
SAN FRANCISCO.
INVESTMENT SECURITIES
AND
BONDS
NASHVILLE,
TENN.
JOHN
Wm. G. Hopper & Co.
&
Southern
Securities
WANTED
CO.
WILLIAM
E.
BUSH
AUGUSTA, GA.
ATLANTA.
Philadelphia. Pa.
SOUTHERN
CO.
A,
MUNICIPAL
BONDS
THE ROBINSON-HUMPHREY CO.
NORFOLK, VA.
ATLANTA, GEORGIA
MOTTU & CO.
WE OWN AND OFFER
MUNICIPAL BONDS
Established 1892.
Yielding 4k% and upwards
AND
BROKERS HILLYER INVESTMENT CO.
ATLANTA, GEORGIA
NORFOLK, VA.
DENVER. COL
BIRMINGHAM, ALA.
CALVIN BULLOCK
Otto Marx & Co.
DENVER
BROKERS
0ITT TRAMWAY
BONDS
MONTGOMERY.
STOCKS AND BONDS
MEYER & GOLDMAN
B. W.
Strassburger
SOUTHERN INVESTMENT SECURITIES
STOCKS AND BONDS
MONTGOMERY, ALA.
OFFICES:
BIRMINGHAM, \
COLSTON, BOYCE & CO
JNO. L. NORTON
INVESTMENT BONDS
Local Stocks and Bonds.
SOUTHERN SECURITIES
86 Madison Avenue,
PORTLAND, MAINE
Established 1854
H. M.
26
PAYS0N & CO.
Investment Securities
PORTLAND
Chas. H.Payson
-
-
-
Geo. S.Payson
-
Correspondence Invited.
LOS ANGELES. CAL.
Joseph Ball Company
Orders executed for
the
purchase and sale
of
BONDS AND STOCKS
Members Los Angeles Stock Exchange
483*434-435-436-437 SECURITY BUILDING
LOS ANGELES
WILLIAM R. STAATS CO
Established 1887
Municipal and Corporation Bonds
TO YIELD
4% TO 6%
on
Request
LOS ANGELES
PASADENA
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANGE
LOS ANGELES.
JOHN T. STEELE
BUFFALO, N. Y.
Government, Municipal
and Corporation Bonds
SPECIALISTS IN
TENN.
.
of
BUFFALO.
Members Baltimore Stock Exchance
-
the
a higher rate of interest than bonds
same merit issued in the East.
BALTIMORE
ALABAMA
MEMPHIS.
MEMPHIS,
CORPORATION
They yield
Descriptive Circulars
BIRMINGHAM, ALABAMA.
MONTGOMERY J
MUNICIPAL AND PUBLIC SERVICE
YIELDING 4M% TO 5J*%
PHILADELPHIA
AND
James H. Adams & Co.
CALIFORNIA BONDS
SECURITIES
BONDS
BANKERS
SAN FRANCISCO
Member The Stock and Bond Exchange
LOS ANGELES.
Specialists in
BANKERS
Invite Requests lor Information
and Stocks
HUNTOON
Building,
PACIFIC COAST SECURITIES
1st Nat. Bank Bldg..
Offerings of Southern Bonds
Philadelphia.
fPHILADELPIA STOCK EXCHANGE
MEMBERS! NEW YORK STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
Morris
Heilman Bldg.
Los Angeles.
Wakefield, Garthwaite & Co.
We
Chestnut and Third Sts.,
E. B. JONES
H. W
Lumbermen’s Bldg.. Portland.
W. DICKEY
AUGUSTA. GA
Investments receive our spoeiaJ attention.
In¬
formation cheerfully furnished Regarding present
holdings or proposed Investment*.
-
BARROLL & CO.
BROKER
STOCK AND BOND BROKERS
28 South Third Street,
PHILADELPHIA
INACTIVE
421 Chestnut St.,
Correspondents,
Harris, Winthrop & Co.. New York & Chicago
Merchants’ Exch. Bldg.
San Francisco.
.
&.
LOS ANGELES
Branch. Coronado Hotel, Coronado Beach.
BONDS
AUGUSTA.
W. G. HOPPER,
H. S. HOPPER,
Members of Philadelphia Stock Exchange.
REED
SAN FRANCISCO
Bankers and Brokers
STOCKS
PHILADELPHIA.
W. SPARKS
Stock and Bond Exchange. S. F.
Private Wire to Chicago and New York.
THOS. PLATER & CO.
Singer Bldg.
INVESTMENT SECURITIES
J.
Exchange.
MEMBER!Chicago Board of Trade.
HENRY S. FRAZER
Local Stocks and Bonds
NEW YORK
J. C. WILSON
New York Stock
NASHVILLE.
Taylor & Company
and
BONDS
Specialty
INVESTMENT SECURITIES
LOUISVILLE, KY
PITTSBURGH, PA.
PITTSBURGH
Municipal and Corporation
STOCKS AND BONDS
SECURITIES.
258 Fourth Ave.
PHILADELPHIA
PACIFIC COAST SECURITIES A SPECIALTY
Union Bank Building,
H. P.
PORTLAND
John W. & D. S. Green
Members
New York and Pittsburgh Stock Exchange*
and Chicago Board of Trade
INVESTMENT
MORRIS BROTHERS
Correspondent*: WALKER BROS., 71 B’way. N. Y.
PAID-UP CAPITAL, $500,000
CHILDS & CHILDS
LXXXXI.
outside Sew
PITTSBURGH.
We Buy and Sell
of
[VOL.
MAINE
Herbert Payaon
PROVIDENCE.
Buffalo and Western New York Securities
Richardson & Clark
ALBANY, N. V.
Exchange Street, Providence, B. I.
Bonds, Stocks and Local Securities.
Private wires to Boston, Philadelphia
and New York.
PETER J.
CALLAN
INVESTMENT BANKER
Local, Listed and Unlisted
STOCKS AND BONDS
REAL ESTATE
Sept. 10
1910.]
THE CHRONICLE
VII
flawtues and ^MrfuKs ontsi&e lletw
CHICAGO.
CLEVELAND.
GREENEBAUM SONS
BANKERS
Corner Clark and Randolph Streets. Chicago.
ST
BORTON & BORTON
INVESTMENT SECURITIES
Due
STOCKS AND BONDS
Chicago First Mortgages and Bonds for sale.
OF CLEVELAND AND NORTHERN OHIO
MEMBERS CLEVELAND STOCK EXCHANGE
of the World.
A General Domestic and Foreign BanklngBuslness.
Correspondence Solicited.
all parts
Send
GUARDIAN BUILDING
for our latest lists of Securities.
Hayden, Miller & Co.
F. Harris &
Sanford
Co.
INVESTMENT SECURITIES
Investment Bonds
Citizens' Building.
Slaughter & Co.,
BANKERS & BROKERS
139 MONROE STREET.
CHICAGO,
{New York Produce Exchange.
Chicago Stock Exchange,
Chicago Board of Trade,
St. Louis Merchants’ Exchange.
Allerton, Greene & King
THE ROOKERY. CHICAGO
RAILROAD, MUNICIPAL AND
CORPORATION BONDS
on
WEIL, ROTH & CO.
for Investment
CHICAGO
WHITAKER
CINCINNATI
Investment Securities
The Short, Stanton, Worthington Co.
(Successor to Short, Stanton & Co.)
PRIVATE
300 N.
BOUGHT AND SOLD
Building,
FRIEDLANDER
DEALER IN
Cincinnati Securities
OHIO
SAINT PAUL.
KANSAS CITY, MO.
Twin City Rapid Transit 5s. 1928
Minnesota Transfer Ry. 5s. 1916
St. Paul Gas Light Co. 5s. 1944
McCRUM
City of St. Paul 4Hs
FOURTH ST.
ST. LOUIS
-
Issues.
'New York Stock Exchange,
fN
(R
Rochester Stock Exchange.
ICl
Chicago Board of Trade.
ROCHESTER
on
Gas, Electric Lighting & Railway
Bonds and Stocks
SECURITIES
Application.
BODELL &
High Class 6% Bonds
50% Stock Bonus
ftr particulars
BURGESS
ROCHESTER
CO.
N. Y.
Preferred Stocks
of Proven Value.
Bonds and
BONDS
MINNEAPOLIS—ST. PAUL
M. St. P. & S. Ste. Marie 4s
Duluth Mlssabe & Northern 5s
South Dakota Central 5s
Minnesota & Ontario Power 6s
WELLS & DICKEY & CO
MINNEAPOLIS. MINN.
MUNICIPAL A CORPORATION BONDS
Rapid Transit System Bonds
Minneapolis National Bank Stocks
HAVANA
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
John E. Gardm }
Alvin W. KrechlNew York Committee
James H. Post J
Acts as Cuban correspondent of Americ
banks and transacts a general banking bnsinaM.
Capital, $1,000,000
LADD
& TILTON
PORTLAND
MINNEAPOLIS.
Stevens, Chapman & Co.
OF
76 CUBA STREET
PROVIDENCE
Member Rochester Stock Exchange
104-105 Wilder Bldg.
fptxatxjcial.
206 TO 209 BANIGAN BUILDING
Write
A.
CIRCULARS AND UST ON APPUCATIOS
INDUSTRIAL TRUST CO. BUILDING
Building
0HIOAQO
DEALT IN
State Savings Bank Bldg., St* Bout
PROVIDENCE, R. I.
Local Securities
205 LaSalle SI.
MUNICIPAL
and other
HIGH-CLASS BONDS
ALBERT P. MILLER Jr. BANK
BONBRIGHT & HIBBARD
Daily Lists Mailed
Edwin White & Co.
Bldg.
ST. LOUIS
PROVIDENCE.
ROCHESTER, N. Y.
100 Powers
Mchts.-Laclede
Correspondence Invited on
all Northwestern Securities
KANSAS CITY. MO
Kansas City Ry. & Light
Western Municipals.
Local Securities.
William R. Compton Co*
Twin City Telephone Co. 1st 5s
INVESTMENT 00.
TO
MARKETS
CINCINNATI
I. W. Cor. Monroe & La Salle Sts., Chicago.
Twin City
WIRES
PRINCIPAL
Municipal and Corporation Bonds
CINCINNATI.
COMMERCIAL PAPER
JOHN
Special Attention to St. Louis Securities
HIGH-GRADE
Union Trust
(INCORPORATED.)
SPECIALISTS
CO.
&
Application
A. G. Becker & Co.,
Members:
One Wall Street
In St. Louis at 412 Olive Street.
Dealers in
EDGAR
H.
for Circular CG
High-Grade Bonds
ILL.
New York Stock Exchange.
New York Cotton Exchange.
New York Coffee Exchange,
W.
Write
A. G. EDWARDS A SO NS
CINCINNATI.
List
Granite City, one of the principal manufactur¬
ing towns of Illinois, Is situated directly across
the Mississippi River from St. Louis.
The manu¬
facturing plants of the National Enameling &
Stamping Company, Commonwealth Steel Com¬
pany,
Hoyt Metal Company, American Steel
Foundries Company,
Corn Products Refining
Company and the Wagoner Brewing Company
are located In Granite
City, and are taxed for
the payment of these bonds.
Legality approved
by Messrs. Shope, Zane, Busby and Weber.
CLEVELAND. OHIO
CHICAGO
Members:
Serially 1912-1922
Yield Over 4 }/i%
ROOKERY
THE
A. O.
Granite City, Illinois, School 5s
LISTED AND UNLISTED
High-Grade Investment Securities.
Issue Letters of Credit for travelers, available In
LOUIS.
FRED. S. BORTON
T. E. BORTON
R. C. ENWRIGHT
BANK
OREGON
-
Established 1859
INDIANAPOLIS.
njtruwinrnrn~i*ir
**~********‘*^**** *^**A*AA***AA**
Joseph T. Elliott & Sons
Investment Securities
Members Indianapolis Stock Exchange
American Nat. Bank Bldg..
INDIANAPOLIS
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
OFFICERS
W. M. Ladd, President.
R. S. Howard Jr., Asst.Cash
B. Cooklngham, V.-Pres. J. W. Ladd, Asst. Cashier.
W. H. Dunckley, Cash.
Walter M. Cook, Asst. Cash.
Interest paid on Time Deposits and Savings Accounts.
Accounts of Banks, Firms. Corporations and Individuals
solicited.
We are prepared to furnish depositors
every facility consistent with good banking.
NEWTON TODD
I WILL BUY AND SELL
INDIANA TRACTION SECURITIES
Fletcher Bank Bldg..
INDIANAPOLIS
EDWIN R. CASE
NEW
JERSEY
No better State
SECURITIES
No better Securities
15 EXCHANGE PLACE
Tds. 266 and 751
JERSEY CITV
THE CHRONICLE
mi
[VOL.
fpuatxjcial.
LXXXXI.
ffitmttjcial.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York.
January 21st, 1910.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its
on the 31st of December, 1909.
Premiums on Marine Risks from 1st January, 1909, to 31st December, 1909
Premiums on Policies not marked off 1st January. 1909
affairs
$4,477,103 95
Premiums marked off from 1st January, 1909, to 31st December, 1909...
...$3,791,557 05
Negotiate and Issue Loans for Rail¬
Corporations.
Bny and sell Bonds suitable for
roads and Established
Investment.
$322,046 46
145,679 82
$467,726 28
206 LA SALLE ST, CHICAGO
Losses paid during the year which were estimated in 1908
and previous years
$829,378 19
Losses occurred, estimated and paid In 1909
1,149,459 56 $1,978,837 75
Less Salvages
Re-Insurances..!
BANKERS,
..$3,759,391 25
717,712 70
Total Marine Premiums
Interest received during: the year
Rent less Taxes and Expenses
Fversz & Company?
$249,891 07
235,520 48
485.411 55
$1,493,426 20
Returns of Premiums
Expenses. Including officers’ salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
Stock, City, Bank and other Se¬
Estimated Losses and Losses Un¬
settled
$2,393,297
Premiums on Unterminated Risks.
685.546
Certificates of Profits and Interest
Unpaid
263,468
Return Premiums Unpaid
120,569
Certificates of Profits Ordered Re¬
-
curities
$5,461,042 00
Special deposits In Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall A William Sts.,
A Exchange Place.$4.299,426 04
Other Real Estate A
claims due the com¬
deemed,
75,000 00
4,374,426 04
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
1,213,069 68
Withheld
Premiums
Certificates of
for
Profits
00
90
95
42
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION 1 RAILROAD BONDS.
SEND FOR CIRCULARS.
Unpaid
22.353 49
Outstand¬
ing—
7,404,890 00
370,000 00
Real Estate Reserve Fund
PEABODY, HOUGHTELING & GO.
239,948 04
633,405 13
Cash in Bank
Aggregating
$356,913 94
LIABILITIES.
ASSETS.
United States A State of New York
pany
$60,285 14
$12,921,890 89
181 La Salle Street.
Aggregating
CHICAGO.
$11,260,126 76
(Established 1865J
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the first of February next.
The outstanding certificates of the Issue of 1904 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the first of February next, from which date all
Interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the net earned premiums of the Company for the year
ending 31st December. 1909, which are entitled to participate in dividend, for which, upon appli¬
cation, certificates will be Issued on and after Tuesday the third of May next.
By order of the Board.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN,
GEORGE C. CLARE.
CLEVELAND H. DODGE.
CORNELIUS ELDERT,
RICHARD H. EWART.
PHILIP A. S. FRANKLIN.
HERBERT L. GRIGGS.
GEO. H. BURR & CO.
BANKERS
0. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
CLEMENT A. GRISCOM,
DALLAS B PRATT,
ANSON W. HARD.
GEORGE W. QUINTARD,
LEWIS CASS LED YARD,
A. A. RAVEN.
CHARLES D. LEVERICH.
JOHN J. RIKER.
LEANDER N. LOVELL.
DOUGLAS ROBINSON,
GEORGE H. MACY.
GUSTAV H, SCHWAB.
CHARLES H. MARSHALL.
WILLIAM SLOANE.
NICHOLAS F. PALMER.
ISAAC STERN.
HENRY PARISH.
WILLIAM A. STREET,
ADOLF PAVENSTEDT,
GEORGE E. TURNURE.
CHARLES M. PRATT,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2d Vice-President.
CHARLES E. FAY. 3d Vice-President.
JOHN H. JONES STEWART. 4SA Vice-President.
Commercial
43
Exchange Place
Chicago
Boston
Philadelphia
San
First National
Bank Bldg.
(NETHERLANDS ADMINISTRATION A TRUST COMPANY )
215 Slngel - AMSTERDAM. (Holland.)
H. MEINESZ, President
H. WALTER. L. D„
Chairman,
de Kock A Uyt den Bogaard.
Director of Swiss Bankvereln and
of Labouchere, Oyens A Co's Bank.
J. A. DUYNSTEE,
Telders A Co.
P. Tb. EVERARD.
R. Mees A Zoonen.
AUG. KALFF,
W. M. SCHEURLEER.
Acts
Acts
as
as
m Broadway
Now York
Chas. S. Kidder & Co.
STREET,
CHICAGO
President.
_
Westerwoudt A Co.
Jan Ealll A Co.
RONDS
-BhJnUO
H. MEINESZ.
P. M. J. OILISSEN.
Arnold Glllssen.
Chicago
182 LA SALLE
Ph. MEES.
G. H. DE MAREZ OYENS.
Labouchere, Oyens A Co s Bank.
A. L. G. H. PICHOT*
Banker.
Kansas City
Francisco
MUNICIPAL & COR¬
PORATION BONDS
Board of Director*!
A. A. H. BOISSEVAIN,
SL Louis
Municipal and Corporation
I
Nederlandsch Administrate- & Trustkantoor
Paper
New York
Scheurleer A Zoonen
Executor,
Administrator, Trustee,
Trustee of Corporation Mortgages.
Guardian, Agent, etc
Devitt, Tremble & Co.
BONDS FOR INVESTMENT
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHI LA. NATIONAL BANK BLDG*
PHILADELPHIA
The
Trust Company of America
37-43 WALL
8TREET, NEW YORK.
COLONIAL BRANCHi
222
Broadway, New York.
LONDON OFFICEi
95 Gresham St.
CAPITAL AND SURPLUS $8,000,000
Invites accounts of individuals firms and
corporations.
Pays interest on daily balances.
Executes trusts of every description.
r
H. T. HOLTZ & comunicipal AND
CORPORATION BONDS
Correspondence Invited
171 LA SALLE
STREET, CHICAGO
Sept. 10
THE CHRONICLE
1910.]
gitmtulal.
IX
0nmttt i«Rlt ItuittttiM.
WANTED
I OWN AND OFFER
Stone A Webster
14T Milk Street.
BOSTON
First Ned. Bank Bide
f Hasten Street
NEW YORK
?
CHICAQO
Wc offer for Investment
Securities of
Public Service Corporations
under the management
of our organization
to
N. C. & St. L. Con,. 5,. due 1008
N. C. & St. L. (Lebanon Br.) «s, 1917
Nash. Ry. & Lt. (Ref.) 5s. 19$8
Nash. Ry. & Lt. 1st Cons. 5s. 1953
Davidson County, Tenn., 4Hs, 1937
Davidson County, Tenn., 4s, 1933
Nashville City Sewer 4Hs, 1933
Nashville City Water-Works 4Hs, 1930
GOULDING MARR
Broker
NASHVILLE,
I—Bribing these companies will be sent
request.
H. C. Spftller & Co.
Specialists in Inactive Bonds.
*27 State street
Boston
Ft. Smith Light & Traction 6s
Ontario Power 5s
Standard Oil Cloth Com. A Pref.
New Hampshire Elec. Rys., Com.& Pf
F. W. MASON & CO.
S.s«rA
WANTED
Appleton (Wis.) Water Co. 1st 6s
Appleton (Wis.) Water Co. Snd 5s
Westchester County Water Co. 1st 6s
Arlington Mills
Hartford Carpet Com.
Hood Rubber Pref.
Georgia Ry. St Elec. Com.
Shawinigan Water & P. 5s. 1934
St. Loads Rocky Mi. & Pacific 5s, 1955
FOR SALE
Boston Securities Pref.
Regal Shoe Pref.
American Investment Sec's Pref.
American Storage Battery
Oxford Linen, Series C
C. H. FARNHAM
BANKERS
American Caramel Com. & Pref.
.
Gamewell Fire Alarm Co. Stock
Omaha Water Co. 1st & 2nd Preferred
37 STATE STREET.
WANTED
Waltham Watch Com.
Pope Mfng. Com.
U. S. Envelope Pref.
Douglas Shoe Pref.
Cleveland Painesville St Eastern 5s
F. H. PRINCE & CO.
Denver Hotel & Theatre 5s
Peoria Waterworks Co. 4s & 5s
Council Bluffs Water Works Co. 6s
Newark (O.) Water Co. 6s
Penn Gas Co. 6s
Youngstown & Southern Ry. 6s
Our Manual
Michigan Lake Superior Power 5s
New Hampshire Elec. Ry. Stocks
TENN. People's Gas & Elec., Oswego, 5s
-
-
New Orleans Mobile A Chicago 6s
Leadville (Colo.) Water 4s
yield
5% to 6*A%
upon
UO.OOO
1,000
15,000
50,000
3,000
1,000
3,000
4.000
Glens Falls Gas & Electric 5s
Omaha Water Co. 5s and Stock
Seattle-Tacoma Power Co. Stock
HOTCHKIN A CO.
BOSTON
INVESTMENT SECURITIES
53 STATE ST.. BOSTON
Telephone 3448 Main
Commonwealth Power 5s, 1924
Grand Rapids Edison 5s, 1916
Michigan Municipals, old issues
BOSTON, MASS.
HIGH-GRADE INVESTMENTS
Detroit Hillsdale A S. W. 4% Stock
Grand River Valley 6% Stock
CommonwTth P., Ry.& Lt., Pf.&Com
Wm.
Hughes Clarke
415 Ford
Members of New York and Boston Stock Exchanges
United Rys. of St. Louis 4s
Union El. Lt.& P. Co. of 8t.L. 1st 6s
Union El. LtA P. Oo. of St. L. Ref. 6s
Building, Detroit, Mich. Laclede Gas Oo. of St. Louis 1st 6s
Nevada-Callforaia Power Co. bonds and stock
Denver St N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas & Electric 6s
Northern Idaho & Montana Power Co.
JAMES N. WRIGHT & CO
DENVER, OOLO.
Laclede Gas Oo. of St. Louis Ref. 6s
Kan. 0.
Ry.A Lt. 6s A Underly. See’s
DEALT IN BY
FRANCIS, BRO. & CO.
(ESTABLISHED 1*77)
Union Railway, Gas A Electric
DominicK A Dominick
116 BROADWAY
214 North 4th StrMt. ST. LOUIS
Portland Railway, Light A Powof
Memphis Street Railway
ALL LOUISVILLE LOCAL SECURITIES
Members New York Stock Exchance.
116 So. 5th St..
71 Broadway
NEW YORK CITY
LOUISVILLE. KY.
United Bank Note Corporation Stocks
WANTED
Orand Rapids Ry. Co. 1st M. 5% Bonds, doe 1916
OFFER
The most conservative bankers, brokers and
Investors have constantly before them
BABSON’S REPORTS
St. Joseph Railway, Light, Heat & Power Co.
1st Mortgage 6% Bonds, 1937.
Sutton,
Strother & Co.,
Calvert and German Streets
BALTIMORE
Fundamental Conditions
Baboon’s Compiling Offices, Wellesley Hills, Mass.
First 5s,
1919, Underlying 2d Mtge. Bonds
George B. Atlee & Co.
Bankers
NEW YORK OFFICE. S3 BROADWAY.
Largest Statistical Organization in the U. S.
> TO
BAXLROAD
ObRPORATIOR
) 6%
______
BONDS
■fleeted tor Conservative Investors.
Lists Mailed Upon
119 S. Fourth St.
Philadelphia
Temple Iron
New River
Klots Throwing
U S. Lumber
Chicago Subway
Scranton Railway
Scranton Electric
Pa. Cent. Brewing
Pa. Coal & Coke
Scranton Qas St Water
Northern Electric
New Mexico Ry.& Coal Paint Creek Collieries
R W. V. R. T. W. B. & Wyo. V. Trac
BROOKS
‘
EMBERS NEW
Sprue# St.,
SCRANTON, PA
*I-!f PINE STREET. NEW YOJRK
FhSedetphla
Washington
Pittsburgh
& CO.,
BANKERS
423
BANKERS
Members New York Stock Exchange
Established 1856
25 Broad Stroot.
-
Now York
New York State Railways, common
Mohawk Valley Oo.
8tocks and Scrip.
MALCOLM
STUART
Broadway.
Telephone;
YbiTRE
156 Reotof.
NEW
Indiana Columbus & Eastern Traction 5s, 1936
Atlantic City Gas Co. 1st Mtge. 5s, I960
Detroit & Pontiac Ry. Co. Cons. 4&s, 1936^
Gas Light Co. of Augusta, Ga., first 6s, 1936
Spring Brook Water
Application.
Lawrence Barnum & Co.
W. E. HUTTON A CO.
60
Specialize in Securities of
) i%
Railway and Lighting Co.
Large City—State Capital
Earnings about 3 times Interest charges.
Dividends on stock. Present price very low.
WE OFFER
LINDSEY WATER COMPANY
For details concerning these Reports or our
**B«ulnees Barometers” (which we Install In banks
both for their own and customers’ use) address
of
Electric
Private wires to Cincinnati, Chicago. San
Frand&co and Los Angeles.
Members of Baltimore Sleek Exchange
ON
MUNICIPAL
6% BONDS
S. C. HENNING A CO.
,
YORK STOCK EXCHANGE
Sec. Nat Bank Bldg.
WILKES-BARRE, PA.
Cemspoadcnts: EDWARD B. SMITH a CO..
37 Pine St., New York City.
SAM U EL K. PH ILLI PS 4, CO.
421 ChMtnut St
PhlbuMphb
Members of Philadelphia Stock Exchange.
St. Glair Go. Gas A Elec. Oo. 1st
Cons.
6s, 1959
Mahoning A Shenango Ry. A Lt. Go.
1st Ref. 6s, 1916^
Chattanooga Ry. & Lt. Go., 1st A
Ref. 6s, 1966
WU RTS. DULLES Su CO.
UC S. FOURTH ST..
PHILADELPHIA
Telephone Lombard 1060-1061
X
THE CHRONICLE
Qnxxtut
[VOL.
LXXXXI
gxred jttjqpttiyUs,
Kansas City Northwestern 5s, Series “A”, 1933
S. A. L., Atlanta & Birmingham 4s, 1933
Le Roy & Caney Valley Air Line 5s, 1926
Peoria Railway Terminal 4s & Incomes
Toronto Hamilton & Buffalo 4s, 1946
Texas & New Orleans Consolidated 5s, 1943
New Orleans Great Northern 5s, 1955
G. W. Walker & Co.
Will Buy
Sloss Iron & Steel 6s
Sloss Iron & Steel 4J^s
Chesapeake & Ohio Grain Elev. 4s
Kings County Gas & Ill. 5s
N. Y. & Queens Elec. Lt. & P. 5s
Nashville Flor. & Sheffield 5s
Minneapolis & St. Louis 4s and Notes
Wilkes-Barre & Eastern 5s, 1942
G. W. Walker & Co.
Transylvania Railway 5s, 1956
Gulf & Ship Island 5s, 1952
Tel. 100 Broad.
25 Broad St., New York
Wabash Divisional Issues
AND ALL OTHER STEAM RAILROAD SECURITIES DEALT IN
F.
Underlying Bonds
CHESAPEAKE & OHIO
J. USMAN & COMPANY,
LOUISVILLE & NASHVILLE
SOUTHERN RY.
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
STREET,
NEW YORK
SUTRO BROS. & CO.
Land Title & Trust Oo. Building, PHILADELPHIA
89 Pearl Street, HARTFORD
St. Paul & Northern Pac. 6s, 1923
Mobile & Ohio 1st Ext. 6s, July 1927
LIBBEY aSTRUTHERS
55 Cedar Street
NEW YORK
Fargo & Southern 1st 6s, Jan. 1924
Chic. & W. Indiana gen. 6s, Dec. 1932
A. A. LISMAN &
Tal. MW Broad
CO.,
15 Broad St., New York
Canton (0.) Electric Co. 5s, 1937
Michigan City Oas & Elec. 5s, 1937
Lansing Fuel & Gas 5s, 1921
Baltimore Electric 6s, 1947
Duluth Edison Elec. Pref. Stock
We solicit offerings of blocks of
$50,000 or more of Gas and Elec¬
tric Company Bonds.
H. L. NASON & CO.
Shawmut
Bank
BOSTON,
Building,
MASS.
CITY OF
ATLANTA
4^s, 1936. Validated
New
■
Central
Georgia Cons. 5s
C. I. L. 6s
Kentucky Central 4s
Washington Central 4s
HILSMAN
& CO.
WANTED
FERRIS 4 WHITE,
Tel. Il27*t Hanover
17 WaU St.. N. Y.
WE WANT TO BUY
Somerset Coal 5s
Colorado Industrial 5s
BANKERS
STREET, NEW YORK.
INVESTMENT BONDS
accounts of
on
Individuals and Corporations
N. Y. N. H. & H. Deb. 4s, 1956
Boston & Maine 4J^s, 1929
Central of Vermont 1st 4s, 1920
Denver Gas & Elect. Ref. 5s, 1949
N. Y. & Cuban Mail SS. 1st 5s, 1932
Col. Newark & Zanesv. 1st 5s, 1924
Rock Island Equip. 43^%s,SeriesC,
Oct. 1915 to April 1919
Private
Walholding Vy. & Ohio 4s
Wheeling & Lake Erie Equipment 5s
Kansas City & Memphis Ry. & Bridge 5s
Pittsburgh Cin. Chicago & St. Louis 3 Hs
NEW YORK
84 Pint Street
80
Biker, Ayling & Company
BOSTON
Phlladelphii
Providence
New York
Boston
30 Broad Street
50 Congress Street
WE OFFER
Northern Indiana Gas & Elect. Co. Pref. Stock
Rochester Ry. & Light Co. Preferred Stock
WE WANT
Atlantic City Gas Co. Common Stock
Wilmington (Del.) Gas Co. Common Stock
Railroad Equipment Issues to yield 5% & over
REED A. MORGAN & CO.,
Weet End Trust Bldg., Phlla.. Pa.
Members of the Philadelphia Stock Exchange
Telephones, J Bell-Spruce 21-31.
I Keystone-Race 205
Ohicago & Western Indiana 6s
Chicago & North Western 6s
Chic. & N. W., Midis on Ext. 7s
Chic. & N. W., Menominee Ext.
Wire
BOSTON
SO State Street
7s
St. Paul Terminal 5s
BLAKE & REEVES
Tel. 1504 John
First
Railroad and Other
Investment Bonds
Broadway. New York
BONDS
FREDERIC H. HATCH & CO
34 Pine
Street, New York
Telephone 2417-8-9 John
J. H. BECKER A CO.
1M. M5 Rector
Adams Express
American Brass
Hood Rubber
Lord & Taylor Pfd.
Plattsburg Gas & Electric Com.
Plattsburg Gas & Electric Pref.
Wilmington (Del.) Gas Co. Pref. Stock
BURGESS. LANG & CO.
Philadelphia & Reading 6s
Toledo)
50
100
50
100
100
50
T. W. STEPHENS & 00,
Bangor & Aroostook (all issues)
INVESTMENT
FOB SAVINGS BANES
6 Months 4 %%
Kansas City Ft. S. & M. ref. 4s
West Penn Rys. 1st 5s
Wilkes-Barre & Wyo .Valley Trac. 5s
Mt. Washington St. Ry. 1st 5s
Choctaw Okla. & Gulf Consol. 5s
Easton & Northern First 4J^s
American Ice Go. 5s, 1914
Springfield Water Consol. 5s
Providence Securities 4s
EMPIRE BUILDINQ, ATLANTA. OA.
LEGAL
400 Chestnut Street. Philadelphia.
Indiana Ill. & Iowa 4s
Interest allowed
J. H.
Robt.Glendinning&Co.
Lake Erie & West. Coal & RR. 6s
Richmond & Allegheny 1st 4s
2 WALL
WE OFFER
BANKERS
44 PINE STREET. NEW YORK
Mem ben New York Stock Exchange
C
K. B
Tel. 6744 Hanover
Amer.
for
Conservative Investment
WADE
49 Wall Street.
Telephone Coll. Trust 4s, 1929
General Rubber Go. 43^s, 1915
Pacific Tel. 1st 5s, 1937 (receipts)
curtis~&Tsanger
Members N.Y.. Boston& ChicagoStock Exchanges
49 Wan Street
Boston
NEW YORK
Mortgage Bonds
Chicaco
Pingree, McKinney & Co.
8
Congress Street,
Boston
Coal & Iron National Bank
Union
Exchange National Bank
LUTZ
& COMPANY
Bank and Trust
25 Broad St., N. Y.
Company Stocks
Tel. 273 Broad
Sept. 10 1910.]
THE CHRONICLE
xi
dtureeut iKond %uqnivl**.
$15,000
Capital $5,000,000
Consolidated Water Co. of Utica
Qen. Mtge 5% Gold Bonds, due
Franchise perpetual.
1930.
Main Office:
Population served 80,000.
Capacity 12,000,000 gallons daily.
The Company does the entire water business of
Utica, N. Y., and controls all the available
sources
over
28 Nassau Street
Guaranty Trust
Company
New York
of water supply for the city.
Price to net
Surplus $18,000,000
Established 1864
of
5>£%
mill At Co.
Glide, Win
BANKERS
Fifth Avenue Branch
Fifth Avenue & 43d Street.
20 BBOAD STREET, N. T.
SAFE DEPOSIT VAULTS
Telephone 445-6-7 Rector
London
33 Lombard
American Tel A Tel. Col. Tr. 4s, 1929
Chic. Rock Island A Pac. Gen. 4s, 1988
Transacts
Chic. Bock Island A Pac. Ref. 4s, 1934
Terminal Ass’n of St. Louis 4s, 1953
Pitts. Cin. Chic. & St. Louis 33^s, & 4s
Pa. Company 3J^s, 1916-1944
NEWBORG & CO.,
MEMBERS N. Y. STOCK EXCHANGE
60 BROADWAY. N. Y.
Telephone 4890 Rector.
Cable Addraee.
“NEWROSB"
PRIVATE WIRE TO ST. LOUIS
MEGARGEL & CO.
BANKERS
5 Nassau Street
NEW YORK
Chicago Great Western 4s, 1959
Oregon Short Line 5s, 1946
Duluth A Iron Range 5s, 1937
Wheel. A Lake Erie Cons. 4s, 1949
Ft. Worth A Rio Grande 4s, 1928
EYER
& COMPANY
Tel. 7750 1-2-8 Hanover
87 Wall Street
NEW YORK
Alabama State 4s, 1920, 1956
New Mexico Ry. & Coal 5s. 1947. 1951
Auburn Gas First 5s, 1927
New Orleans Mobile & Chicago 5s, 1960
Milwaukee Lake Shore & Western 6s, 1921
Dakota & Great Southern 5s. 1916
Winona & St. Peter 7s. 1916
DOUGLAS FENWICK & CO.
Tel. John 109
CLEVELAND & PITTSBURGH 7%
JOLIET & CHICAGO 7%
CLEVELAND A PITTSBURGH 4%
JACKSON LANSING A SAGINAW 8H%
MORRIS A ESSEX 7%
ALLEGHENY A WESTERN 6%
CIN. SANDUSKY A CLEVE. PREF. 6%
MAHONING COAL RR. PREF. 5%
NORTHERN RR. OF N. J. 4%
INTERNAT. OCfeAN TELEGRAPH CO. 6%
SOUTHERN A ATLANTIC TELEG. CO. 5%
BROOKLYN CITY RR. 8%
josepbRJaiker&Sons
MembersNewYork Stock Exchange,
20
Broad
St.
New
York.
Private wire to Philadelphia.
Coffin & Company
NEW YORK
WANT
Lehigh Valley Terminal 5s
Cin. Indianap. St. Louis A Chic. 6s
New Haven debenture 4s, 1956
Raleigh A Gaston 5s
OFFER
Pittsburgh A Western 4s
Nor. Pac., St. Paul A Duluth 4s
Central Pacific coll, trust 4s
Atlanta Knoxville A Northern 4s
Company Business
Investment Offerings
FOR SALE
Edward V. Kane & Co.
North American Building.
PHILADELPHIA
Mem ben Philadelphia Stock Exchange
'Phones Bell-Walnut 2290
Keystone-Raoe 4-99
70
48
71
100
4
65
50
23
50
100
50
American Caramel, Com.
Borden’s Milk, Com.
Eastman Kodak, Com.
Federal Sugar, Com.
Guaranty Trust Co. Stock
Int. Silver, Pfd.
N. Y., Susq. & West. Coal, Pfd.
Singer Mfg. Stock
Texas Company
UnderwoodTypewriter.Com.
Union Typewriter, Com.
Providence Securities Deb. 4s, 1957
Brooklyn City Ry. 5s, 1941
Second Ave. Cons. 5s, 1948T. Co.ctfs.
Edison Elec. Ill. of Brooklyn 4s, 1939
New Amsterdam Gas 5s, 1948
Milwaukee Gas 4s, 1927
PATERSON & CO.,
Tel. 1985-6-7 Rector
20 Broad St.. N. Y
WANTED
17
100
25
25
50
10
American Brass
Automatic Electric
May Dept. Stores, Com.
Nat. City Bank Stock
Fiielps, Dodge & Co.
Wheeling & L. E. Equip. 5s
We have GOOD MARKETS in unlisted and in¬
active securities and respectfully invite inquiries.
J. K. Rice, Jr. A Co.
’Phones 7460 to 7466 Hanover.
St. L. Iron Mtn. A So. Gen. 5s, 1931
N. Y. Central Lines Equip. 4>£s
New York A Northern 1st 5s, 1297
Short Time Notes A Bonds
Railway Equipment Issues
FREEMAN A COMPANY
34 PINE STREET. NEW YORK
Telephone 6089 John
The phenomenal richness of the gold deposits
in the
aw»
are
PORCUPI NE
rapidly proven. When the public
their value the opportunity for big
being
realizes
{>rofits
ormation.
will have passed. Write to-day^for inWARREN, GZ0WSKI & C0.
25 Broad St., New York.
Toronto.
Equipment Bonds and Car Trusts
Swartwout & Appenzellar
33 Wall St.,N.Y.
CLUCAS
GILMAN
Dealers in
High-Grade Investment Bonds
1st Nat. Bank Bldg.
34 Pine Stree
NEW HAVEN. CT.
NEW YORK
Wabash 5% Equipment, 1921
Florida East Coast 1st 43^s, 1959
Hudson A Manhattan 4^s, 1957
Hudson A Manhattan, Common
N. Y. Central Lines Equipments
WOLFF & STANLEY
27 William St.. N. Y.
Tel. 6557 Broad
GEORGE L. WARE
63 State
BANKERS
84 WALL ST
GUARANTEED STOCKS
WANTED
General Trust
OFFERINGS WANTED
Consolidated Gas of Pittsburgh 5s, 1948
Danville Urbana A Champaign Ry. 5s. 1923
Decatur Ry. A Lt. Co. 1st Cons. 5s, 1933
Evansville Electric Ry. 4s, 1921
Chicago Subway 5s, 1928
Walpole Rubber preferred
Street, E. C.
Foreign Exchange
American Light A Traction Common
Illinois Tunnel 5s, 1928
New Mexico Railway A Coal 5s, 1947
O’Gara Coal 5s, 1955
Penn Coal A Coke Cons. 5s, 1953
Penn Coal A Coke 1st 5s, 1932
Public Service Corporation 5s, 1959
Schwarzschild A Sulzberger 6s, 1916
a
Branch
Street, BOSTON, HASS.
Telephone Main 984
Members N. Y. Stock Exchange
NEW YORK CITY
44 Pint Street
We
FOR SALE
$5,000 Lincoln Gas A Electric Light 5s
$5,000 N. Y. A East River Gas Cons. 5s
$5,000 Indiana Lighting Co. 1st 4s
25 Cripple Creek Central Ry. Pfd.
50 Indiana Lighting Co. Stock
50 American Gas A Electric Co. Pfd.
LAMARCHE A COADY,
Tel. 5775-6 Broad.
Si Broad St
.
If. Y,
any
in the market to
purchase
underlying gas and electric
are
PUBLIC SER¬
VICE CORPORATION OF NEW
securities of the
JERSEY
W. E. R. SMITH & CO..
20 Broad Street
-
-
New York
Utica Clinton & Binghamton 5s
Fargo & Southern 6s
O’Gara Coal 5s
L. & N., Atlanta Knoxville & Cin. 4s
East. Tenn. Virginia & Georgia Cons. 5s
Central Vermont 4s
Wisconsin Central, Superior & Duluth 4s
Cincin. Hamilton & Dayton Incomes
New York Central debenture 4s
Central RR. of New Jersey 5s
Atchison debs, “stamp.” 4s
Duluth & Iron R. Ist^5s
WERNER
TcL 4800-1-2-3-1-5 Broad.
TGOLDSCHMini
25 Broad Street, N.
Y.
THE CHRONICLE
m
fVOL.
Sxnst Qompauits.
«*»«
--------*‘**^*J^J^<^*^A*,»*» » •
mm states Host mm ot
-
-
»
»A»
Qxust ©umjratxijes.
*i*iWWMWiiri ly^ATUVUWUVVV
lev Ton,
Chartered IMS
45 and 47 WALL STREET
CAPITAL,
$2,000,000.00
$13,856,670.83
SURPLUS AND UNDIVIDED PROFITS
This Company acts as Executor. Administrator. Guardian. Trustee, Court Depositary and in
ether recognized trust capacities.
It allows interest at current rates on deposits.
It holds, manages and invests money, securities and other property, real or personal, for estates
corporations and individuals.
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS, 2d Asst .Sec.
TRUSTEES.
JOHN A. STEWART.
Gustav H. Schwab.
Frank Lyman,
James Stillman,
John Claflln,
John J. Phelps,
W. Bayard Cutting,
William Rockefeller,
Alexander E. Orr,
William H. Maey Jr..
William D. Sloane,
Chairman ot the noara
Lewis Cass Led yard,
Lyman J. Gage.
Payne Whitney.
Edward W. Sheldon.
Chauncey Keep
LXXX2I
George L. Rives,
Arthur C. James,
William M. Kingsley.
William Stewart Tod.
Ogden Mills:
Egerton L. Wlnthrop
Fidelity Trust Company
NEWARK, N. J.
OF THE CONDITION OF
REPORT
UMin STATES HOST
OF NEW TOM
at the close of business on the 31st day of August,
Loans.
Real estate
Due from trust companies,
bankers
48,137,580 46
1,000,000 00
banks and
Specie (gold certificates)
Other assets, viz.:
Capital, Surplus and Undivided Profits, Over $9,500,000
6,375,018 34
7,250,000 00
-
418,678 44
Accrued interest entered
$78,323,857 24
Total
LIABILITIES.
Capital stock
Surplus, Including all undivided profits.
$2,000,000 00
13,856,570 83
.
$12,022,593 87
Preferred deposits
Deposits (not preferred).. 28,223,396 96
Due trust companies,
banks and bankers
4,885,584 68
Certificates of deposit (not
preferred)
16,485,472 33
61,617,047 84
Other liabilities, viz.:
Reserved for taxes.
Accrued Interest entered
53,800 00
796,438 57
$78,323,857 24
Total
Resources Over $29,000,000
1910:
RESOURCES.
Bonds and mortgages
$4,074,600 00
Stock and bond Investments, via.:
Public securities (book value $1,725,750), market value
1,736,750 00
Other securities (book value $9,241,250), market value
9,332,230 00
State of New York, County of New York, ss.:
WM. M. KINGSLEY, Vice-President, and HENRY
E. AHERN, Secrptary, of United States Trust Com¬
pany of New Yhfk, located and doing business at Nos.
45-47 Wall StmeL In the City of New York, In said
county, being duly sworn, each for himself, says the
foregoing report Is true and correct In all respects, to
Acts
Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates. Guarantees Titles of
Real Estate throughout Now Jersey.
as
General
Banking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
Hittanxial.
the best of his knowledge and belief, and they further
say that the usual business of said trust company has
been transacted at the location required by the bank¬
ing law (Chap. 2 of the Consolidated Laws, as amended),
and not elsewhere: and that the above report Is In the
form prescribed by the Superintendent of Banks, and
Is made In compliance with an official notice received
from him designating the 31st day of August, 1910, as
the day of which such report shall be made, and Ed¬
ward W. Sheldon, the President, Is absent and cannot
join in this report.
WILLIAM M. KINGSLEY, Vice-President.
HENRY E. AHERN, Secretary.
Severally subscribed and sworn to by both deponents
the 8th day of September, 1910, before me.
PHILIP L. WATKINS,
Notary Public,
financial.
[Seal
Notary.]
of
E. H.ROLLINS & SONS NATIONAL BANK
OF CUBA
Established 1876
are
32,900,684 60
Cash in Vaults - - - - 8,681,379 19 equipment and operation of the TriBorough Subway and Elevated System
HEAD OFFICE—HAVANA
of New York City, comprising about 44
Branches
84 GALIANO ST.. HAVANA.
miles of line, to be opened October 20,
226 MONTE ST., HAVANA.
.....
Fiscal Agent for Cities and Oorporatiom
on
Application
BOSTON
PRODUCE EXCHANGE, HAVANA
CARDENAS.
MATANZAS,
OIENFUEGOS.
SANTIAGO,
MANZANILLO.
CAIBARIEN,
GUANTANAMO.
SAGUA LA GRANDB
SANTA CLARA,
CAMAGUEY,
PINAR DEL RIO.
SANCTI SPIRITUS,
CAMAJUANI,
CRUCES,
Cl EGO DE AVILA.
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
Collections
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
a
Sole Depositary for the Funds of the Republic o
Cuba
Member American Bankers' Association
Sullivan Brothers & Co.
BONDS
CHESTNUT
also invited for construction
only, with municipal money,
opened October 27, 1910. Bids
made for
one or more
Write
trustees
Stolen;.
or
call
PUBLIC SERVICE COMMISSION
FOR THE FIRST DISTRICT,
bankers
31 NASSAU STREET
NEW YORK
Street, New York City
WKfttttaft,
Successful
Bond Salesman
of estates,
R. M. GRANT & CO.
LOST OR STOLEN.—Notice is hereby given
that $10,000 LEHIGH VALLEY COAIl COM¬
PANY 1st Mortgage Gold 5% Bonds of the de¬
nomination of $1,000 each, payable to bearer,
and maturing in 1933, interest payable January
1st and July 1st, numbered as follows: 220, 221.
be
concerning full details,
including forms of contracts and plans.
Legal for New Jersey, Connecticut
and New Jersey Savings banks, and
executors and
to
may be
of the sections into
which the construction work has been
154 Nassau
Yielding from 4.10% to 4.70%
0*
are
MUNICIPAL BONDS
jl !Jfw
York St°ck Exchange
Philadelphia
tlost
Bids
STREET
PHILADELPHIA, PA.
Members
1910.
divided.
Specialty.
Cable Address—Banconao
42 T
Iglnanctal.
"tStfaSK*. }*•«* CONTRACTORS
Bids
invited for construction,
Assets
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
List
Kings County.
Certificate filed In New York Co.
Wanted—experienced in selling high-grade
municipal and corporation bonds. Preference
for man with good acquaintance in Connecticut,
Rhode Island, New Hampshire or Vermont.
Good salary to man who has demonstrated
ability to earn it. State experience. Box 231,
Boston.
222, 1192, 1193, 1194, 1195, 1196, 1197, 1198,
nave
been either lost
or
stolen.
All persons
are
hereby notified and warned against purchasing,
selling or otherwise negotiating the above bonds.
Notice of the loss or theft has been given to the
Lehigh Valley Coal Co., with instrnctions to
refuse payment of principal at maturity and
interest
as same
becomes due.
JOSEPH W. GROSS,
J. AUBREY
ANDERSON.
1608 Real Estate Trust Bldg.
Philadelphia Pa.
Attorneys.
,
Established 1864
Telephone 2817 Rector
INSURANCE STOCKS
Fidelity, Phoenix, Home,
Niagara, Continental, &o.
BOUGHT AND SOLD
E. S. BAI LEY
60 BROADWA
i
NEW YORK
MAN
WITH
FARM
AND INVESTMENT
SITION.
LOAN
EXPERIENCE
SECURITIES^SEEKS PO¬
CAN INSPECT FARMS.
ALSO EFFI¬
CIENT BOOKKEEPER AND STENOGRAPHER.
ADDRESS A. K. S.. CARE CHRONICLE. 513
MONADNOCKJ3LDG., CHICAGO.
Sept. 10 1010.)
THE CHRONICLE
Hanfe iftatemeuts
Qvnst ©trmpatxies.
STATE BANK OF CHICAGO
Condition
xiu
The
September 2, 1910
RESOURCES
Loans and Discounts
$17,059,801
Overdrafts
2,654
Bonds
1,782,050
Cash and Due from Banks 7,703,808
06
79
94
12
Loan and Trust
$26,548,374 91
Company
LIABILITIES.
Capital Stock
Surplus (Earned)
$1,500,000 00
1,500,000 00
Undivided Profits
Reserved for Interest and
Taxes
Deposits
242,906 53
Statement of Condition at Commencement of Business Sept. 2, 1910.
Loans and Discounts!
Bonds and Mortgages..
Due from Banks
Cash and Checks for Clearing House.
$32,037,425 43
9,067,287 1$
...
60,000 00
23,245,468 38
$12,659,216 81
8,687,463 43
21,346,680 24
$26,548,374 91
at
GROWTH IN DEPOSITS
shown by official published statements
Total Deposits.
February 1,1910
March 30, 1910
July 1, 1910
....
September 2, 1910
.
.
.
.
.
.
.
.
$62,451,392 80
Liabilities.
Capital Stock.
Surplus Fund
$3,000,000 0O
5,000,000 00*
840,078 5$
Undivided Profits
20,548,765 Dividend No.
190, Unpaid.
22,671,760 Reserved for Accrued Interest and Taxes
22,839,459 Deposits j
23,245,468
.
75 00
102,569 40
53,508,669 82
$62,451,392 80
OFFICERS
GENERAL BANKING
L. A. GODDARD, President
JOHN R.
LINDGREN, Vice-President
HENRY A. HAUGAN, Vice-President
HENRY S. HENSCHEN, Cashier
FRANK I. PACKARD, Assistant Cashier
C. EDWARD CARLSON, Assistant Cashier
SAMUEL E. KNECHT, Secretary
WILLIAM C. MILLER, Asst. Secretary
YOUR BUSINESS INVITED
Accounts of Banks,
Merchants, Corporations and Individuals solicited.
OFFICERS.
ORSON SMITH, President
EDMUND D. HULBERT. Vice-President
FRANK G. NELSON, Vice-President
JOHN E. BLUNT, Jr., Vice-President
J. G. ORCHARD, Cashier
P. C. PETERSON, Assistant Cashier
C. E. ESTES, Assistant Cashier
LEON L. LOEHR, Secretary and Trust Officer
F. W. THOMPSON, Mgr. Farm Loan Departmen
H. G. P. DEANS, Mgr. Foreign Department
135 Adams Street
CHICAGO
Qxvu>t ©jompatxijes.
^^REPORT^OFTHE^CC^DITIONOFTHE^,W'
CENTRAL TRUST COMPANY
OF NEW YORK.
at the close of business
on
the 31st day of August, 1910.
RESOURCES.
Bonds and mortgages,
Stock and bond Investments, viz.:
Public securities (book value, $2,997,520 00), market value
Other securities (book value, $21,070,184 21), market value
Loans
Real estate
Due from trust companies, banks and
bankers
Specie
•
Legal-tender notes and notes of national
banks
Accrued interest entered.
$1,184,368 12
REPORT OP THE CONDITION OP THE
2,997,520 00
21,070,184 21
33,329,109 47
985,040 26
$88,644,946 13
LIABILITIES.
Capital stock
$3,000,000 00
Surplus, Including all undivided profits.. 16,124,819 81
Preferred deposits
$1,289,782 20
Deposits (not preferred)..59,637,079 59
Due trust companies, banks
and bankers.
1,749,758 72
Certificates of deposit (not
preferred)
6,401,614 79
Total deposits
Reserved for taxes.
Accrued interest entered
At the Commencement of Business
LIABILITIES
Loans and Discounts..$8,241,629
Bonds
620,377
Overdrafts
190
Gash and Sight Exch’g. 3,167,269
Furniture & Fixtures
12,600
_
_
$1,000,000 00
03
Surplus and Profits
00
Deposits
Exchange
Investment Securities
St rest a, N. Y.
132,691 82
10,909,274 00
$12,041,965 82
ADDISON CORNEAU, Asst. Cashier
WALTER H. WILSON, Vice-President
ALBERT E.
COEN, Asst. Cashier
WILLIAM C. COOK, Vice-President
W. G. WALLING, Secretary
LAWRENCE NELSON. Vice-President
LLOYD R. STEERE, Assistant Secretary
HARRY R. MOORE, Cashier
LOUIS H. SCHROEDER, Mgr. Bond Dept.
J. J. RAHLF, Mgr. Foreign Exchange Dept.
£UinoisTrast&Savings Bank
CHICAGO
Capital and Surplus
$13,600,000
on Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and Foreign Exchange.
Pays Interest
BANKERS
..
24
OFFICERS
HOLLISTER, FISH & CO.
Capital
08
JOSEPH E. OTIS, President
Notary Public, Kings Co.
&. Pina
47
$12,041,965 82
20,953 47
420,937 55
Members New York Stock
September 2, 1910
RESOURCES
Certificate filed in N. Y. Co.
Nassau
Savings Bank
CHICAGO
69,078,235 30
Total
$88,644,946 13
State of New York, County of New York, ss.:
J. N. WALLACE, President, and M. FERGUSON,
Secretary, of Central Trust Co. of New York, located
and doing business at No. 54 Wall Street, in the City
of New York, in said county, being duly sworn, each
for himself, says the foregoing report Is true and correct
n all respects, to the best of his
knowledge and belief,
and they further say that the usual business of said
trust company has been transacted at the location
required by the banking law (Chap. 2 of the Consoli¬
dated Laws, as amended), and not elsewhere: and that
the above report is In the form prescribed by the
Superintendent of Banks, and Is made In compliance
with an official notice received from him designating
the 31st day of August, 1910, as the day of which
such report shall be made.
J. N. WALLACE, President.
M. FERGUSON, Secretary.
Severally subscribed and sworn to by both deponents
the 6th day of September, 1910, before me.
M. E. HELLSTERN,
lSeal of Notary.]
Western Trust &
18,542,797 21
9,889,814 81
16,850 00
629,262 05
Total
j
Resources.
Transacts
a
General
Trust
CORRESPONDENCE
Business.
INVITED.
THE CHRONICLE
XIV
[VOL.
LXXXXI -
Qxn&t ®Bttxpxnlzz.
gattU jMafcemjetxts.
STATEMENT OF
REPORT OF THE CONDITION OF THE
[No. 29.1
THE MERCANTILE TRUST COMPANY
120
At the Close of Business Aug. 31,
Cash
$14,294,451
2,156,700
5,547,463
6,723.382
35,566,467
377,675
Deposit
on
Loans on CollateralMiscellaneous
65
00
43
23
57
98
1910
Capital Stock
Surplus
Undivided Profits
Reserves
RESOURCES.
5
-
—
DEPOSITS
$64,666,140 86
>
$66,945,964 00
1,892 21
$2,000,000
7,000,000
363,518
121,912
55,180.709
00
00
92
86
08
$64,666,140 86
5,902,000 00
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
U. S. bonds on hand
Premiums on U. S. bonds
Bonds, securities, &c
1,000 00
157,390 00
582 38
34,583,434 50
1,603,500 00
Banking house
Due from National banks
(not reserve agents)
Due from State and private
banks
and
bankers,
and
$1,718,978 97
and
trust
companies
savings banks.
Checks
L
September 1st, 1910:
Overdrafts, secured and unsecured
LIABILITIES
Bonds and Stocks..
Bonds and Mortgages
Cash on Hand
City, In the State of New York, at the
close of business
Loans and discounts
BROADWAY, NEW YORK
ASSETS
'he First National Bank
at New York
245,394 27
cash
other
185,100 04
Items.
Exchanges
Clearing
for
GUY RICHARDS, Secretary
WILLIAM C. POILLON, Vice-President
HAROLD B. THORNE, Treasurer
House
12,377,121 34
Notes of other National
banks
4,720 00
Fractional paper currency,
nickels and cents
245 79
BETHUNE W. JONES, Assistant Secretary
GEORGE W. BENTON, Assistant Treasurer
Lawful money reserve
OFFICERS
•JOHN T. TERRY, Vice-President
flS
ISAAC MICHAELS, Trust Officer
HORACE E. DEUBLER. Auditor
In
bank, viz.:
Specie
Legal-tender notes
22,700,622 75
1,603,084 00
38,835,267 16
Redemption fund with U. S. Treashrer
(5% of circulation)
295,100 00
Due from U. S. Treasurer
192,362 10
$148,518,492 35
Total.
BANKGRS TRUST COMPANY
NEW YORK
7 WALL STREET,
LIABILITIES
Capital stock paid In..
Surplus fund
Undivided profits, less expenses
taxes paid
National banknotes outstanding
Due
Condensed Statement of Condition
As
on
to
banks
August 31. 1910.
Reported to the Banking Department of the State of New
and
35,568,092 70
Demand Loans
Cash on Hand and in Banks
Accrued Interest Receivable
Office Building
15,412,146 19
16,250,852 57
448.631 09
551,242 81
$84,949,590 36
LIABILITIES.
1,795,190 99
Undivided Profits
72.142,504 90
-
3.257,108 49
Certified and other Outstanding Checks
on
private
2,103,178 88
companies
banks
29,117,617 94
Dividends unpaid
288 75
Individual deposits sub¬
ject to check..'.
41,291,628 12
Demand certificates of de¬
304,776 33
posit
Certified checks....
3,770,795 04
Cashier’s checks out¬
standing
U. S. deposits...
4,544,695 16
1,000 00
112,386,944 16
749,000 00
302,155 15
Bonds borrowed.
Reserved for taxes
$148,518,492 35
Total...
State of New York, County
$3,000,000 00
4,500,000 00
Capital
Surplus
Reserved for Interest
Reserved for Taxes
$31,252,963 94
banks and bankers
$16,718.625 00
Bonds
-
Deposits
—
4,490,497 50
National
Due to trust
and savings
TimeJLoans and Bills Purchased
Deposits
5,589,895 54
Due to State and
York.
RESOURCES.
Stocks
other
$10,000,000 00
15,000,000 00
and
L
--
246,148 98
8,639 00
of New York, ss.:
I, C. D. BACKUS. Cashier of the above-named bank,
do solemnly swear that the above statement Is true
to the best of my knowledge and belief.
C. D. BACKUS, Cashier.
Subscribed and sworn to before me this 6th day of
THOS. T. GRACE,
September, 1910.
Notary Public.
Correct—Attest:
A. BARTON
HEPBURN, )
1 Directors.
H. P. DAVISON,
T. W. LAMONT,
$84,949,590 36
J
[No. 964.1
REPORT OF THE CONDITION
DIRECTORS
STEPHEN BAKER, President Bank of the Man¬
hattan Co., N. Y.
SAMUEL G. BAYNE. President Seaboard Na¬
tional Bank, N. Y.
EDWIN M. BULKLEY. Spencer Trask & Co..
(^•Bankers, N. Y.
JAMES G. CANNON, President Fourth National
^Bank. N. Y.
EDMUND C. CONVERSE, President, New York.
HENRY *P. DAVISON. J. P. Morgan & Co.,
Bankers, N. Y.
WALTER E. FREW, Vice-President Corn Ex¬
change Bank, N. Y.
FREDERICK T.
HASKELL,
Vice-President
f*UH. Trust & Savings Bank, Chicago.
A. BARTON HEPBURN, President Chase Na¬
tional Bank, N. Y.
THOMAS W. LAMONT, Vice-President First Na¬
tional Bank, N. Y.
OATES W. McGARRAH, President Mechanics’
Metals’ Nat l Bank. N. Y.
EDGAR
L. MARSTON, Blair &
Co., Bankers.
N. Y.
GEORGE W. PERKINS. J. P. Morgan & Co.,
Bankers, N. Y.
.....
v
DANIEL E. POMEROY. Vice-President. N. Y.
WILLIAM H.
PORTER, President Chemical
^
Nat’l Bank N Y
DANIEL G.’REID. Vice-President Liberty Na¬
tional Bank, N. Y.
BENJ. STRONG Jr.. Vice-President. New York.
.
VI
SWINNEY, President First Na¬
tional Bank. Kansas City.
GILBERT G. THORNE, Vice-President National
Park Bank. N. Y.
EDWARD TOWNSEND, President Importers’ &
Traders’ National Bank, N. Y.
ALBERT H. WIGG1N, Vice-President Chase Na¬
tional Bank, N. Y.
SAMUEL WOOLVERTON. Pres. Gallatin Na¬
tional Bank, N. Y.
EDWARD
F.
E. C.
CONVERSE, President.
B. STRONG JR., Vice-President.
D. E. POMEROY, Vice-Pres.
F. I. KENT, Vice-Pres.
F. N. B. CLOSE, Sec’y.
H. W. DONOVAN, Treas.
H. F. WILSON JR., Asst. Sec y.
MELLON NATIONAL BANK
PITTSBURGH, PA. ■—
As your reserve depositary,
bank offers you perfect service
liberal interest
on
your
this
and
balances.
THE MARKET AND FULTON
NATIONAL BANK
at New York, In the State of
business September 1, 1910:
-
$7,000,000
New York, at the close of
RESOURCES.
$8,440,199
575
240,000
10,000
77,700
Loans and discounts
Overdrafts, secured and unsecured
U. S. bonds to secure circulation..
U. S. bonds to secure U. S. deposits
Bonds, securities, &c
78
13
00
00
00
550,000 00
Banking-house, furniture and fixtures
from national banks (not reserve
agents)
-Due from State and private banks and
bankers, trust companies and savings
770,294 98
banks
Checks and other cash Items
144,252 30
91,032 91
Exchanges for Clearing House.
Notes of other national banks
Lawful money reserve In bank, viz.:
538,896 89
Due
Legal-tender notes
...
54,030 00
1,193,901 00
Redemption fund with U. S. Treasurer
(5 per cent of circulation)
Due from U. S. Treasurer
—
2,466,357 96
12,000 00
29,724 95
$13,425,064 £0
Total...
LIABILITIES.
Capital stock paid In
$1,000,000 00
Surplus fund
1,000,000 00
Undivided profits, less expenses and
taxes paid
720,718 13
National banknotes outstanding
201,100 00
Due to other national banks..-.
868,911 89
Due to State and private banks and
bankers
230,045 85
Due to trust companies and savings banks
1,187,997 71
Dividends unpaid
204 00
Individual deposits subject to check
8,053,679 59
Demand certificates of deposit
2,985 52
Certified checks
Cashier’s checks outstanding.
United States deposits..
Reserved for taxes
137,213 27
4,208 94
1,000 00
17,000 00
Total..
.$13,425,064
State of New York, County of New York, ss.:
90
I, THOMAS J. STEVENS, Cashier of the abovenamed bank, do solemnly swear that the above state¬
ment Is true to the best of my knowledge and belief.
T. J. STEVENS, Cashier.
Subscribed and sworn to before me this 6th day of
September, 1910.
[Seal.]
CAPITAL AND SURPLUS,
OF
O. B. LEWIS,
Notary Public.
Correct—Attest:
AARON J. BACH,
)
FREDERICK B. FISKE, ^Directors.
R. A. PARKER,
J
Sept. 10 1910.]
THE CHRONICLE
Dattft Statements.
xv
3J«nst ©emrpatties.
REPORT OF THE CONDITION OF
THE CHATHAM NATIONAL BANK
BROADWAY & JOHN ST., NEW YORK,
at the close of business September 1, 1910.
RESOURCES
Loans and Discounts
$7,259,740 64
United States Bonds at par.
Bonds and Securities
Banking house
Due from Banks
$921,397 70
Cash
2,940,860 23
281,000 00
336,083 95
125,000 00
3,862,257 93
Guaranty Trust Co.
OF *EW YORK.
28 Nassau
33 Lombard
$11,864,082 52
LIABILITIES
Capital and Surplus
$1,250,000 00
Deposits
10,155,673 82
Undivided Profits (earned)
Circulation
259,711 20
198,697 50
resources
resources
June 10, 1910
Sept. 1, 1910
10,851,554 55
11,864,082 52
RESOURCES.
LIABILITIES.
Bonds and Mortgages
Public Securities
Other Securties
Loans and Bills Purchased
Cash on Hand and In Bank....
REPORT OF THE CONDITION OF
ers, etc
Accrued Interest and
Due from
day of August, 1910:
RESOURCES.
Loans and discounts
$20,870,337
54
Overdrafts
Due from trust companies, banka and
bankers
923,263
Real estate.
900,000
Stocks and bonds, viz.:
Public securities (book value, $1,000),
market value
1,010
Other securities (book value, $3,468,492 85), market value
3,661,200
Specie
Legal-tender notes and notes of national
$552,800
14,535,369
43,255,477
44,904,728
34,923,226
14
00
48
07
58
02
Capital..
Surplus..
*$5,000,000 00
18,000,000 00
3,143.925 96
127,684,065 99
559,819 68
6,925,072 55
*
Undivided Profits
DEPOSITS
Accrued Interest
Payable
Foreign Acceptances
Foreign Banks, Bank¬
21,161,33136
Accounts
Receivable
THE BANK OF AMERICA
SURPLUS, $18,000,000
Statement at the close of Business August 81, 1910
LOUIS G. KAUFMAN, President.
FRANK J. HEANEY. Vice-President
CHARLES H. IMHOFF, Vice-President
WILLIAM H. STRAWN, Cashier
HERNY L. CADMUS. Asst. Cashier
at the close of business on the 31st
St., New York
St., London, E. €.
CAPITAL, $5,000,000
$11,864,082 52
Total
Total
5th Ave. and 43d
\ew York
1,979,951 67
j
$161,312,884 18
$161,312,884 18
*2,437 shares of the Fifth Ave. Trust Co. stock having passed by merger to this company, the equivalent
1.218H shares of this company are unissued, but will be Issued at an early date.
72
12
00
00
38
4,027,429 97
OFFICERS
ALEX. J. HEMPHILL, President.
MAX MAY, Vice-President.
H. M. FRANCIS. Vice-President.
WM. C. EDWARDS, Treasurer.
JAMES M. PRATT. Assist. Treasurer.
W. F. H. KOELSCH, Assist. Secretary.
F. J. H. SUTTON, Trust Officer.
CHARLES H. SABIN, Vice-President.
LEWIS B. FRANKLIN. Vice-President.
C. i). LANDALE, Mgr. 5th Ave. Branch.
E. C. HEBBARD, Secretary.
F. C. HARRIMAN, Assist. Treasurer.
WALTER MEACHAM, Assist. Secretary.
J. I. BURKE. Assist. Trust Officer.
1,959,887 00
9,066,948 99
banks
Cash Items
Other assets, viz.:
Accrued interest not entered
29,300 00
Total
$41,439,431 32
LIABILITIES.
Capital stock.
$1,500,000 00
Surplus, including all undivided profits..
5,874,222 95
Due New York State savings banks
3,598,135 38
Deposits not preferred
14,706,527 77
Due trust companies, banks and bankers 10,381,463 38
Total deposits, $28,686,126 53.
Other liabilities, viz.*:
/
Certified checks.
$5,313,567 99
Cashier’s checks.
7,789 10
Unpaid dividends
1,887 00
Reserved for taxes
45,437 75
Accrued Interest not
tered
en¬
Metropolitan Trust Company
OF THE CITY OF NEW YORK
AT THE CLOSE OF BUSINESS AUGUST 31. 1910.
10,400 00
5,379,081 84
Total
STATEMENT OF THE
$41,439,431 32
State of New York, County of New York, ss.:
WILLIAM H. PERKINS. President, and WALTER
M. BENNET, Cashier, of The Bank of America, a
bank located and doing business at Nos. 44 and 46
Wall Street, in the City of New York, in said county,
being duly sworn, each for himself, says that the
foregoing report Is true and correct in all respects, to
the best of his knowledge and belief, and they further
say that theu sual business of said bank has been trans¬
acted at the location required by the banking law
ASSETS.
LIABILITIES.
N. Y. City & State Bonds, mkt. val_$l,672,040 00
Other Stocks and Bonds
2,876,000 00
Bonds and Mortgages
928,600 00
Loans
21.192.679 44
Real Estate
64,681 49
Interest Accrued
302,026 74
Cash in Banks
-.$4,091,805 19
Cash on Hand
3,061,493 20
7,153,298 39
Capital
.---$2,000,000 00
7,910,204 01
Surplus and Undivided Profits
$34,189,326 06
$34,189,326 06
(Chap. 2 of the Consolidated Laws,
as amended), and
and that the above report is in the
form prescribed by the Superintendent of Banks, and
is made in compliance with an official notice received
from him designating the 31st ady of August, 1910,
as the day of which such report shall be made.
WILLIAM H. PERKINS, President.
WALTER M. BENNET, Cashier.
Severally subscribed and sworn to by both depon¬
ents the 2d day of September, 1910, before me.
B. DENZLER, Notary Public.
Seal of Notary.]
Kings County, No. 1,046.
Certificate filed in New York County.
not elsewhere;
DEPOSITS
Interest Accrued
Reserved for Taxes.
Reserved for Rent
Certified Checks
23,762,617
151,097
16,000
4,500
344,906
88
58
00
00
59
BRAYTON IVES, President
ANTON A. RAVEN, Vice-President
GEORGE N. HARTMANN, Secretary
BEVERLY CHEW, 2d Vice-President
JAMES F. McNAMARA, Trust Officer.
BERTRAM CRUGER, Treasurer
RUPERT W. K. ANDERSON, Asst. Treasurer
FREDERICK E. FRIED, Ass’t Secretary
STATEMENT OF CONDITION
She
<&itiz£ns ©jeutral
atimial ^ank
of Stcto
3(OKfe
^Empire ©rust (Eompattg
MAIN OFFICE
42
BROADWAY, NEW YORK
BRANCH OFFICES
487 Fifth Avenue, N. Y.
320 BROADWAY
242 E. Houston Street, N. Y.
FOREIGN OFFICE
9 New Broad Street, London,
Edwin S. Scbenck. President
Francis M. Bacon Jr.. Vice-President
Albion K. Chapman, Cashier
Jesse M. Smith. Asst. Cashier
James McAllister. Asst. Cashle^
W. M. Haines. Asst. Cashier
$2,550,000
Capital
Surplus and Profits $1,600,000
E. C.
AT THE CLOSE OF BUSINESS AUGUST 31, 1910.
RESOURCES.
N. Y. State and City Bonds
N.
Y. City
Real Estate
gages
Other Stocks and Bonds
Bills Purchased
Loans on Collateral.
Cash on Hand and In Banks
Interest
Receivable and
Assets
LIABILITIES.
$949,760 00
Mort585,500
1,445,289
2,529,500
8,825,684
5,859,076
00
17
29
86
90
Capital
Surplus and Undivided Profits
$1,000,000 00
1,139,680 19
Reserved for Accrued Interest and
Taxes.
-
DEPOSITS
55,925 31
18,218,481 36
Other
219,275 64
$20,414,086 86
THIS COMPANY IS
$20,414,086 86
THE] FISCAL AGENT OF THE STATE OF
TAX STAMPS
NEW YORK FOR THE SALE OF STOCK TRANSFER
THE CHRONICLE
XVI
[VOL. LXXXXI.
gatife Statjcmjctite.
NEW YORK PRODUCE EXCHANGE BANK
Member of the New York Clearing-House Association
Condensed Quarterly Report at the close of business on
LIABILITIES.
Capital Stock
Surplus (earned)
RESOURCES.
Loans and Discounts
$6,523,773 32
Due from Banks
379,328 15
1,436,300 00
“
iritles
-
Undivided Profits
Deposit Vaults, Furniture and
te
Fixtures,
Branches
Head
Office
Exchanges for Clearing House
Aocrued Interest (net)
257,058 59
—
Deposits
130,000
670,000
2,53(1,874
763,284
8„709
Cash and Cash Items
$1,000,000 00
500,000 00
10,678,210 52
Reserved for taxes
and
Banking House and Lot
the 31 st day of August, 1910
7,000 00
00
00
03
61
00
Organized
$2,542,512.00
SEPTEMBER 1, 1910
Deposits
THOMAS L. JAMES. President
E. V. W. ROSSITER, Vice-President
WM. A. SIMONSON. Vice-President
CHAS. ELLIOT WARREN. Vloe-PlWldont
DAVTD C. GRANT Cashier
JOHNS. SAMMIS JR., Asst. Cashier
HENRY E. STUBING. Asst. Cashier
|
Forrest H. Parker, ex-President New York Pro¬
mercial Company.
John E. Berwlnd, Vice-President Berwlnd White
Coal Mining Co.
John A. Hance, Jesup & Lamont, Bankers.
Walter O. Hubbard, Hubbard Bros. & Co.,
iCotton Merchants.
James McMahon, ex-President Emigrant Indus¬
trial Savings Bank.
duce Exchange.
Edward C. Rice, Rice, Qulnby 6s Co., Commis¬
sion Merchants, Grain and Flour.
Albert S. Roe, Director Ontario Car. & S.RR.
John E. Weeks. M. D., 46 East 57th St.. New
York.
John R. Wood, Cashier.
ACCOUNTS
DIRECTORS
Thomas L. James
Matthew O. D. Borden
E. V. W. Rosslter
Eben E. Olcott
James Stillman
William G. Rockefeller
Condensed Report of the Condition of
STATEMENT AT THE CLOSE OF BUSINESS SEPT. 1, 1910.
RESO URGES.
$4,799,017 99 Capital stock
410,000 00 Surplus and profits (earned)
934,943 13 Circulation
513,716 38 Deposits
2,074,540 74 Reserve for taxes
$1,000,000 00
$8,732,218 24
$8,782,218 24
392,081 43
407,100 00
6,925,455 85
7,580 96
[No
REPORT OF
Cash
39
1,401,659 79
2,764,681 18
$9,253,506 47
Capital
$300,000 00
371,143 55
8,582,362 92
Surplus and undivided profits
Deposits
$9,253,506 47
BRADLEY MARTIN JR. President
The International Bank
60 WALL STREET
New York,
August 31, 1910.
RESOURCES.
Loans and Investments
Due from banks
Cash and reserve
$1,758,050 36
957,639 04
230,096 09
$2,945,785 49
LIABILITIES.
Capital stock
Surplus and profits
Deposits
109,610 65
$2,945,785 49
THOS. H. HUBBARD, President.
H. T. S. GREEN, Vice-President.
JOHN HUBBARD, Vice-President.
J. H. ROGERS. Cashier.
C. S. LIPPINCOTT, Assistant Cashier.
BRYCE METCALF, Assistant Cashier.
New York County National Bank
14TH STREET AND
EIGHTH AVE.
STATEMENT SEPT. 1 1910.
RESOURCES.
Loans and discounts
United States bonds
Bonds and securities
Real estate and fixtures
Exchanges for Clearing House
Cash and
reserve
|
LIABILITIES.
Capital stock, surplus and profits
--------
350,000 00
2,085,297 47
450,334 72
460,271 74
1,996,039 69
$2,157,425 85
200,000 00
8,814,579 36
$11,172,005 21
JAMES C
■A)
»
6,670,091 00
2,469,500 00
21,041,593 30
—
175,000 00
135,000 00
5,139,109 45
25,508,104 52
129,084 65
1,961,760 37
BROWER* Cashier
04
51
77
00
00
00
3,746,975 32
LIABILITIES.
Capital stock paid In
Surplus fund
Undivided profits, less
taxes paid
$3,000,000 00
2,000,000 00
expenses
posit
221,033 92
United States deposits.
Reserved for taxes....
41
88
00
00
570,538 34
692,975 80
258,265 90
$19,663,785 71
and
Reserved for taxes
National bank-notes outstanding
Dividends unpaid
Due
to
other
national
banks
$2,571,487
Due to State banks and
bankers
360,908
Due to trust companies and
savings banks
1,971,629
Individual deposits subject
to check
7,545,713
Demand certificates of de¬
3,130,954 91
6,449 50
ing
$13, 616,181
2,848
775,000
1,000
Total
$8,402,362 35
posit
September 1st, 1910:
Due from State banks and bankers
$44,744
Exchanges
for
Clearing
House
681,613
Specie
1,926,867
Legal-tender notes
1,026,000
Redemption fund with U.
S. Treasurer (5 per eent
of circulation).
38,750
Due from U. S. Treasurer,
other than 5 per cent re¬
29,000
demption fund
LIABILITIES.
ject to check.
Demand certificates of de¬
NATIONAL
.$56,948,352 58
Capital stock paid in.
$5,000,000 00
Surplus fund.
3,000,000 00
Undivided profits, less expenses and taxes
1,439,788 68
paid
National banknotes outstanding
2,777,997 50
Due to
other national
banks
Due to State and private
banks and bankers
Due to trust companies
and savings banks
Dividends unpaid
Individual deposits sub¬
MERCANTILE
BANK
Checks and other cash Items
1,391 62
Total
THE
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
Bonds, securities, etc
Due from national banks
120,000 00
Due from U. S. Treasurer
REPORT OF THE CONDITION OF
Overdrafts, secured and unsecured
7,818,853 25
Redemption fund with U. S. Treasurer
(5% of circulation)
Asst. Cashier
RESOURCES.
Loans and discounts..
Clearing
Specie
Legal-tender notes..
Asst. Cashier
OF THE CITY OF NEW YORK
cash
House
Notes of other national
banks
Fractional paper currency,
nickels and cents.
Lawful money reserve In
bank, viz.:
Albert S. Cox
Owen E. Paynter
at the close of business
81,527 24
for
President
Vice-Pres.
Vice-Pres.
Cashier.
Joseph W. Harriman
Joseph Byrne
58
624,518 44
other
items
Exchanges
00
00
62
00
44,498,859 67
$5,830,061 59
$11,172,005 21
Circulation
DEPOSITS
and
Certified checks
Cashier’s checks outstand¬
NEW YORK.
$31,915,450 81
581 26
3, 500,000 00
150,000
21,375
2 ,555,918
600,000
986,493
00
9$
00
00
Officers.
Robert M. Callaway*
Elbert A. Brinckerhof
$26, 782,390 82
Bonds, securities, &c
Banking house, furniture and fixtures..
Other real estate owned
Due from national banks
(not reserve agents)...
3,255,711 75
Due from State and pri¬
vate banks and bankers,
trust
companies
and
$500,000 00
2,336,174 84
Deposits
RESOURCES'
Loans and discounts
Overdrafts, secured and unsecured
U. S. bonds to secure circulation._
U. S. bonds to secure U. S. deposits
Premums on U. S. bonds
$2,000,000
1,789,00$
1,964,400
26,161,452
Circulation
at New York, In the State of New York, at the close
fecLa
of business September 1st, 1910:
savings banks
995,257 $4
11,671,507 $1
Capital Stock
Surplus and Undivided Profits
THE AMERICAN EXCHANGE
NATIONAL BANK
Checks
Banking House
$31,915,450 01
1394]
_
LIABILITIES
Resources.
Loans and discounts
$15,204,041 52
U. S. Bonds and Other Securities..
4,044.790 04
Liabilities.
REPORT OF THE CONDITION OF
$6,430,720 41
58,104 88
of the City of New York, at the close of buslnen
September 1st, 1910.
Cash and Due from Banks
MEMBER NEW YORK CLEARING-HOUSE ASSOCIATION
DEPOSITARY OF UNITED STATES, CITY OF NEW YORK. STATE OF NEW YORK
Accrued Interest Receivable
Due from banks and
trust companies
$1,363,021
The Merchants National Bank
LIABILITIES.
ASSETS
Loans and Investments
Henry O. Phipps
BANK
OF THE CITY OF NEW YORK.
August 31, 1910
W. K. Vanderbilt Jr.
Joseph P. Grace
M. Hartley Dodge
Wo. Brewster
Harry J. Luoe
INVITED.
THE COAL & IRON NATIONAL
at the close of business on
resources
OFFICERS
$12,442,269 11
I
,,
THIRD AVE. AND 57TH ST.. N. Y.
$1,000,000.00
$1,000,000.00
$542,512.00
$19,474,090.00
$23,544,509.00
Capital
Surplus
ADELBERT H. ALDEN, Vice-President.
THOMAS B. NICHOLS, Asst. Cashier.
DIRECTORS
Nineteenth Ward Bank
1882
Capital, Surplus & Undivided Profits
Total
Adelbert H. Alden, President New York Com-
Loans and discounts
U. S. bonds at par
N. Y. City and other bonds
Due from banks
Cash and exchange
NEW YORK.
OF THE CITY OF
Undivided Profits
$12,442,269 11
OFFICERS
FORREST H. PARKER. President.
JOHN R. WOOD. Cashier.
LINCOLN NATIONAL BANK
150,000 00
81,706 73
Certified checks
Cashier’s cheeks outstand¬
726,094
40,530
775,000
3,858
10
33
00
50
18
06
19
66
19,812 54
201,698 37
446,053 72
1,000 00
ing
U. S. deposits
13,118,302 72
Total
$5 i,948,352 58
Total
State of New
York, County of New York, ss.:
I, WALTER N. BENNETT, Cashier of the abovenamed bank, do solemnly swear that the above state¬
ment is true to the best of my
W.
knowledge and belief.
N. BENNETT, Cashier.
Subscribed and sworn to before me this 2nd day of
September, 1910.
[Seal.] ALPHONSE OSCAR, Notary Public.
Correct—Attest:
PLINY FISK,
1
EDWARD BURNS,
^Directors.
LEWIS L. CLARKE, J
$19,663,785 71
State of New York County of New York, ss.:
I, EMIL KLEIN, Cashier of the above-named bank,
do solemnly swear that the above statement is true te
the best of my knowledge and belief.
EMIL KLEIN, Cashier.
Subscribed and sworn to before me this 3d day of
September, 1910.
ALBERT B.
CORY, Notary Public.
Correct—Attest:
■
E. T. JEFFERY,
1
D. 8. RAMSAY,
^Directors.
WILLIS G. NASH,
Sept. 10
1910.]
The chronicle
XVII
jjjtetth. jStatemcttts.
ESTABLISHED 1812
THE GREENWICH BANK
of the City of New York
l«Phenix Nat’l Bank
Corner Nassau and Liberty Sts.
ESTABLISHED 1830
Our Bank at the corner of Broadway and Forty-Fifth Street
is now open every business day until Midnight
CONDENSED SWORN QUARTERLY STATEMENT AUGUST 31ST, 1910
RESOURCES.
Loans and Investments
Due from banks
Cash and exchanges
LIABILITIES.
$7,721,189 30 Capital and surplus
1,028,180 47 Due depositors
2,460,171 94
I__
$1,332,918 89
9,876,622 82
$11,209,541 71
ACCOUNTS OF INDIVIDUALS. FIRMS AND CORPORATIONS INVITED.
SAFE DEPOSIT VAULTS.
BOXES $5.00 A YEAR UP.
Condensed Statement Sept. 1. 1910.
RESOURCES.
Loans and Discounts
$6,164,639 28
United States Bonds (Par)
1,000,000 00
Other Stocks and Bonds...
Cash and Exchange
QUARTERLY REPORT OF
445,004 00
6,770,178 79
THE NASSAU BANK OF NEW YORK
At the close of business Aug. 31, 1910.
RESOURCES.
Loans and discounts
$6,937,429 89
Due from banks and bankers
665,609 11
Real estate
4,000 00
Bonds
34,940 00
Bond and mortgage
34,000 00
Cash In vault
1,947,941 71
Exchanges and checks for next
day’s clearings
484,591 92
Accrued Interest not entered
30,000 00
$14,379,822 07
LIABILITIES.
Capital!
Circulation..
$1,000,000
724,926
32,000
850,000
Deposits*
11.772,895 80
Surplus and Undivided Profits...
Reserved for Taxes
00
22
00
00
$14,379,822 07
DIRECTORS.
AUGUST BELMONT
HENRY K. POMROY
August Belmont & Co,
LIABILITIES
Pomroy Bros.
E.W.BLOOMINGDALE
Deposits
Cashier’s checks
Accrued Interest not entered
WM.PIERSONHAMILTON
fLVlce-Presldent.
J. P.
D. CRAWFORD CLARK
Morgan & Co.
$10,138,512 63
OFFICERS
EDWARD EARL, President.
J. CHRISTY BELL,
W. B. NOBLE.
Vice-President.
Cashier.
JOHN MUNRO,
H. P. STURR,
Vice-President.
Asst. Cashier.
6E0. E. ROBERTS
Clark, Dodge & Co.
Pres. Com. Nat. Bank,
Chicago.
ELBERT H. GARY
EDWARD SHEARSON
Chairman Board U. S.
Steel Corp’n.
Shear son, Hammlll Co.
R. H. HIGGINS
Henry C. Miller,
BROOKLYN, N. Y.
Statement at Close of Business September 1st, 1910
RESOURCES.
Loans and Discounts
United States Bonds
Bonds and Securities
$5,620,628
467,000
884,416
1,228,683
2,963,081
Exchanges for Clearing House
Cash Reserve
Total
09
00
12
14
04
$11,163,808 39
LIABILITIES
Capital Stock Paid In
Surplus and Profits
National banknotes outstanding
DEPOSITS
United States Deposits
$750,000 00
1,010,438 30
266,250 00
8,937,120 09
200,000 00
Total
$11,163,808 39
Thomas T. Barr, President
Robert B. Woodward, Vice-President
Edgar McDonald, 2nd Vice-President
Daniel V. B. Hegeman, Cashier
G. Foster Smith, Asst. Cashier
Henry P. Schoenberner, Asst. Cash.
DIRECTORS
Thomas T. Barr*
Robt. B. Woodward,
Frank Bailey,
1
Crowell Hadden,
Carll H. DeSIlver,
Frank Lyman,
Alexander M. White,
Charles A. Schleren,
Edgar McDonald,
Walter
V. Cranford,
*
George S. Ingraham,
Howard W. Maxwell,
Daniel V. B. Hegeman,
Edwin P. Maynard,
.
RlchardjYoung,
Edward Earl.
Pres. Erie RR. Co.
NASSAU NATIONAL BANK
.
DIRECTORS.
J. Christy Bell,
i John Munro,
Samuel R.Weed,
Harry Bronner,
FREDERICK D. UNDERWOOD
Harvey Flek & Sons.
$500,000 00
538,210 97
10,000 00
9,078,297 71
3,003 95
9,000 00
Reserved for taxes
Pres. Am. Trust &
Sav. Bk. .Chicago.
ALFRED M. BULL
$10,138,512 63
Capital stock
Surplus and undivided profits
EUWIN A. POTTER
Capitalist.
$11,209,541 71
ROBERT P. PERKINS
Pres. Hartford
REPORT OF THE CONDITION OF
Carpet Corp.
GEORGE COFFING WARNER
THE HANOVER NATIONAL BANK
Attorney.
of the
City of New York, at New York, in the State of
New York, at the close of business September 1st, 1910:
FINIS E. MARSHALL
Iresources.
President.
Loans and discounts
Overdrafts
U.S. bonds to secure circulation
U. S. bonds to secure U.S. deposits
U. S. bonds on hand..
OFFICERS.
.
FINISrE.rMARSHALL, President
ALFRED M. BULL, Vice-Pres.
B. L. HASKINS, Cashier
Bonds, securities, &c
Banklnghouse
H. C. HOOLEY, Ass't Cashier
GARFIELD NATIONAL BANK
COR. FIFTH AVE. AND TWENTY-THIRD ST.
ESTABLISHED 1881.
21,988,862
Notes of other national banks
Nickels and pennies
Total Resources
==
=
=
=
=
1910
00
00
00
00
RUEL W. POOR, President
JAMES McCUTCHEON, Vice-President
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW, Asst. Cashier
DIRECTORS
JamesTMcCutcheon
Charlesyr. Wills
Samuel Adams
Morgan J. O’Brien
William H. Gelshenen
Thomas D. Adams
Ruel W. Poor
W We'Solicit accounts from Banks, Bankers, Cor¬
porations, Firms and Individuals, and will be
pleased to meet or correspond with those con¬
templating
making
accounts.
changes
opening
or
00
74
94
68
76
00
34
00
00
00
70,150
880
Specie
13,274,568
Legal tender notes
6,648,500
Redemption fund with U. S. Treasurer.
80,000
Due from U. S. Treasurer (other than
5 per cent fund)
201,000 00
new
Capital stock paid In
$3,000,000 00
Surplus fund
11,500,000 00
Undivided profits, less expenses and
taxes paid
410,170 15
National banknotes outstanding
1,536,397 50
Dividends unpaid
2,234 00
Individual deposits subject
to check..
$32,061,208 02
Demand
certificates
of
deposit
17,057 27
Certified checks
7,034,001 97
Cashier’s checks outstand¬
ing
1,681,208 98
s
""
40,793,476 24
Due to other national
banks
$28,007,932 31
Due to State banks and
bankers
11,615,258 84
Due to trust companies
and savings banks
24,515,515 80
64,138,706 95
United States deposits
150,000 00
Bonds borrowed
265,000 00
„
,
„
-
$121,795,984 84
State of New York, County of New York, ss.:
I, ELMER E. WHITTAKER, Cashier of the Hano¬
National Bank of the City of New York, do solemnly
swear that the above statement Is true, to the best of
my
JOHN B. PURCELL, President
JOHN M. MILLER JR„ V.-Prest. & Cashier
FREDERICK E. NdLTING, 2d Vlce-Prest
Correspondence Invited
knowledge and belief.
ELMER E. WHITAKER.
$2,000,000
377 49
500,000
1,000
1,896,870
500,000
Bonds, securities, &c
Banking house.
Due from National banks
(not
00
00
62
00
reserve
agents)
195,227 63
Due from State and private banks and
bankers, trust companies and savings
banks
Checks and other cash items
17,852
55,676
4,939,993
13,635
...
Exchanges for Clearing House
Notes of other National banks
Fractional paper currency, nickels and
cents
‘
Lawful money reserve in bank, viz.:
86
39
63
00
201 93
Subscribed and sworn to
day of September, 1910.
before me, this second
1,732,864 00
Total
25,000 00
$15,870,342 71
LIABILITIES.
Capital stock paid in
Surplus fund
Undivided profits, less
taxes paid
$1,000,000 00
2,000,000 00
and
expenses
National banknotes outstanding
Due to other National banks
Due to State and private banks and
bankers
Due to trust companies and savings banks
Dividends unpaid
Individual deposits subject to check
Demand certificates of deposit
Certified checks, accepted drafts
Cashier’s checks outstanding..
United States deposits
Reserved for taxes
533,197 23
497,000 00
1,671,320 92
302,010 94
460,216 80
78 00
6,738,332 60
3,266
2,079,272
561,541
1,000
23,106
_
Notary Public, New York County,
Correct—Attest:
Cashier.
WILLIAM WOODWARD,]
WILLIAM deF. HAYNES, [Directors.
SAM’L T. PETERS,
J
75
14
11
00
22
$15,870,342 71
State of New York, County of New York, ss.:
I,
SAMUEL
WOOLVERTON,
President
of
the
above-named bank, do solemnly swear that the above
statement is true to the best of my knowledge and be¬
lief:
SAMUEL WOOLVERTON, President.
Subscribed and sworn to before me this 7th day of
September, 1910.
H. L. BRAYNARD, Notary PubUc.
,
WM. J. CARTER,
„
:
Redemption fund with U. S. Treasurer
(5 per cent of circulation)
Total
*£4*3:43*6*1
RICHMOND. VIRGINIA
Capital and Earned Surplus,
$5,991,643 16
$121,795,984 84
ver
FIRST NATIONAL BANK
Bank
RESOURCES.
Loans and discounts..
Overdrafts, unsecured
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
-
=$1,000,000
1,197,654
9,224,821
=11,820,474
=
55
00
00
00
11
National
York, in the State of New York, at the close of
business September 1, 1910:
LIABILITIES.
$2,197,654 00
Capital = = =
Surplus & Profits
=
Deposits
=
1,104
1,600,000
150,000
440,430
7,649,252
5,343,000
1,486,750
1,483,397
293,848
Due from other national banks
Due from State banks and bankers
Checks and other cash Items
Exchanges for Clearing House
The Gallatin
at New
$61,084,239 72
—
—
Capital, Surplus & Undivided Profits
SEPTEMBER 1,
[No. 1324.]
REPORT OF THE CONDITION OF
[Seal ]
Westchester County.
Certificate filed In New York County.
Correct—Attest:
W. EMLEN ROOSEVELT,
]
■T.ALEX. H. STEVENS,
\ Directors.
THOMAS DENNY.
J
.
THE CHRONICLE
xviu
[VOL. LXXXil.
QxvlzX (&BmpKuU&.
Chartered 1822
The Farmers’ Loan & Trust Co.
Nos. 16, 18, 20
& 22 William Street
BRANCH OFFICE, 475 FIFTH AVENUE
NEW YORK
LONDON
15
PARIS
18 Bishopsgate St. Within
Cockspur St.
41 Boulevard Haussmann
STATEMENT OF AUGUST 31, 1910
RESOURCES.
LIABILITIES.
Bonds and
$3,421,443 40
mortgages
Stock and bond investments, viz.:
Public securities (book value $11,682,821 52), market value
Other securities (book value $20,264,401 25), market value
Loans
Real estate
Due from trust companies> banks and bankers
11,659,842 88
21,031,101
56,909,559
3,256,433
18,120,461
Specie
14,372,758
Legal-tender notes and notes of national banks
103,000
Other assets, viz.:
Accrued interest entered
21
61
66
44
55
00
952,953 88
Capital stock
$1,000,000 CO
Undivided profits
5,984,106 54
Preferred deposits
$5,639,780 08
Deposits (not preferred)
86,931,620 93
Due trust companies, banks
___
and bankers
12,534,499 67
Certificates of deposit (not pre¬
ferred)
16,467,560 67
Total deposits
Other liabilities, viz.:
121,573,461 35
Unpaid dividends
$589 88
Certified checks
Accrued interest entered
409,911 23
859,485 63
1,269,986 74
TOTAL
$129,827,554 63
TOTAL
$129,827,664 63
The
Company is a legal depositary for moneys paid into Court, and is authorised to act as Executor, Administrator,
Trustee, Guardian, Receiver, and in all other fiduciary capacities.
Acts as Trustee under Mortgages made by Railroad and other Corporations, and as Transfer Agent and Registrar
of Stocks and Bonds.
Receives deposits upon Certificates of Deposit, or subject to Check, and allows interest on daily balances.
Manages Real Estate and lends money on bond and mortgage.
Will act as Agent in the transaction of any approved financial business.
Depositary for Legal Reserves of State Banks and also for moneys of the City of New York.
Fiscal Agent for States, Counties and Cities.
Foreign Exchange, Cab
Letters of Credit
e
Transfers.
Payable Throughout the World.
4ft4s4ft4ft4ft464ft4«4ft4ft4ft4fi4ft4ft4ft4ft4«454ft4ft4ft4s4«4c4ft4«4e4«4e4ft46464ft4ft4ft4ft4ft4s4e&
4ft
Q
ESTABLISHED 1888.
Franklin Truff Company
|
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4e
4ft
4e
4ft
4ft
4ft
*
4ft
%
4ft
*
*
4ft
«
4e
*
*
*
4ft
4ft
4ft
4ft
4ft
4ft
4ft
4fi
4ft
4ft
4ft
$
*
&
&
&
&
$
$
$
^
140 Broadway, New York
166 Montague St., Brooklyn
569 Fulton Street, Brooklyn
|
4ft
4ft
4ft
4ft
Statement
$
$
August 31, 1910
.
New York State and
Stocks and Bonds
Bonds and
City Bonds
.
Mortgages
Time Loans and Bills Purchased
Demand Loans
Cash
.
.
Accrued Interest Receivable
.
$552,000
989,165
1,406,238
888,150
00
51
50
00
5,945,584 66
2,655,928 19
2,562,798 09
22,614 11
*
77
&
40
00
89
TRUSTEES.
WILLIAM G. LOW
HENRY R. MALLORY
EDWIN S. MARSTON
ALBRO J. NEWTON
GEORGE M. OLCOTT
EDWIN PACKARD
LOWELL M. PALMER
STEPHEN S. PALMER
CHARLES A. PEABODY
(Condensed)
August 31,
CHARLES J. PEABODY
RALPH PETERS
HENRY E. PIERREPONT
JAMES H. POST
GEORGE H. PRENTISS
MOSES TAYLOR PYNE
WILLIAM H. WALLACE
ROBERT B. WOODWARD
ARTHUR KING WOOD
President
#
&
&
*
$
#
$
&
&
&
»
$
$
#
$
$
$
1910.
RESOURCES.
Bonds of City and State of New York
(market value)
Sundry stocks and bonds
N, Y. City real estate mortgages
$830.578 00
212,721 00
167,049 42
780,531 99
1,903,476 08
Demand loans
Time loans and bills purchased
Real estate
Furniture and fixtures
Accrued Interest receivable
Rent paid In advance
Cash on hand and due from banks
10,023
12,000
14,991
2,000
890,055
12
00
81
00
92
54,823,427 34
LIABILITIES.
Capital
Surplus..
Undivided profits
$500,000
600,000
90,553
2,155
11,265
Reserved for taxes
Interest accrued payable..
Dividends unpaid
00
00
10
53
56
328 50
3,619,124 65
$4,823,4217 34
&
00
$15,022,479 06
HUGH D. AUCHINCLOSS
UNION N. BETHELL
JOSEPH E. BROWN
WM. ALLEN BUTLER
CHARLES B. DENNY
CROWELL HADDEN
HENRY HENTZ
HENRY C. HULBERT
WILLIAM B. LANE, M.D.
Official Statement
Deposits
$15,022,479 06
$1,500,000
905,047
12,529,262
8,505
79,663
.
#
$
$
#
&
$
»
$
LIABILITIES.
Capital
Surplus and Profits
Deposits
Reserved for Taxes, Etc.
Accrued Interest Payable
Company
Broadway and 39th St., N. Y.
$
RESOURCES.
Real Estate
Hudson Trust
OFFICERS
ELVERTON R. CHAPMAN, President
LOUIS H. HOLLOWAY, Vice-President
HENRY C. STRAHMANN. Vice-President
JOHN GERKEN. Vice-President
HENRY G. LEWIS. Treasurer
RICHARD A. PURDY. Secretary
YORK CENTRAL & HUDSON RIVER
RAILROAD COMPANY.
Treasurer’s Office, New York, Sept. 7th, 1910.
NEW
THE BOARD OF DIRECTORS of this Com¬
pany has declared a dividend of ONE AND ONEHALF PER CENT on Its capital stock, payable at
this office on the 15th day of October next, to
stockholders of record at the close of business on
Thursday, the 22nd Inst.
EDWARD L. ROSSITER, Treasurer.
PREFERRED DIVIDEND NO. 17.
Office of THE PORTLAND RAILWAY, LIGHT
& POWER CO., PORTLAND. OREGON.
The Board of Directors has declared the regular
quartery dividend of 1H% upon the Preferred
Stock, payable October 1, 1910, to stockholders
of record at the close of business September 12,
1910.
Checks will be mailed.
G. L. ESTABROOK, Secretary.
GENERAL CHEMICAL
COMPANY^
25 Broad Street, New York, August 22, 1910.
The regular quarterly dividend of one and onehalf per cent (1H%) will be paid October 1st,
1910,
3 p
to
m.,
preferred
stockholders
of
record
Wednesday, September 21st, 1910. ■
JAMES L. MORGAN, Treasurer.
at
Sept. 10
1910.)
THE CHRONICLE
gtwMmds.
Office of
H. M. BYLLESBY & COMPANY
Engineers
Managers
Chicago
The board of directors of the
GAS & ELECTRIC COMPANY
OKLAHOMA
of Oklahoma
City, Oklahoma, has declared a quarterly dividend
of two per cent (2%) upon the common stock of
this company, payable by check September 15th,
1910, to stockholders of record as of the close o
business August 31st, 1910.
ROBERT J. GRAF, Assistant Secretary
Office of
H. M. BYLLESBY & COMPANY
Engineers
Managers
Chicago
The board of directors of the MUSKOGEE
GAS & ELECTRIC COMPANY of Muskogee,
Oklahoma, has declared a quarterly dividend of
One and Three-Quarters Per Cent (1%%) upon
the preferred stock of this company, payable by
check September 15th, 1910, to stockholders of
record as of the close of business August 31st, 1910.
ROBERT J. GRAF, Assistant Secretary.
Office of
H. M. BYLLESBY & COMPANY
Engineers
Managers
Chicago
The board of directors of the SAN DIEGO
CONSOLIDATED GAS & ELECTRIC CO. of
San Diego, California, has declared a quarterly
dividend of One and Three-Quarters Per Cent
(1 %%) upon the common stock of this company,
payable by check September 15th, 1910, to
stockholders of record as of the close of business
August 31st, 1 910.
ROBERT J. GRAF, Assistant Secretary.
OFFICE OF
AMERICAN SMELTINQ & REFINING CO.
165 Broadway, N. Y. City, Sept. 7, 1910.
QUARTERLY PFD. STOCK DIVIDEND NO. 45
The Directors of the American Smelting & Re¬
fining Company have this day declared a dividend
of One and three-quarters Per Cent on the Pre¬
ferred Capital Stock of the Company, payable
Oct. 1, 1910, to stockholders of record at three
o’clock p. m. Sept. 14, 1910.
The books of the
Company for the transfer of the Preferred Stock
will be closed at three o’clock p. m. Sept. 14, 1910,
and will be reopened Sept. 21st, 1910.
W. E. MERRISS. Secretary.
E. I. DU PONT DE NEMOURS POWDER CO.
Wilmington, Del., August 31st, 1910.
The Board of Directors has this dayd edared the
regular dividend of 2 % and also an extra dividend
of 4% on the Common Stock of this company,
payable September 15th, 1910, to stockholders of
record at close of business on September 1st, 1910:
also, dividend of 1 H% on the preferred stock of
this company, payable October 25th, 1910, to
stockholders of record at close of business on
October 15th, 1910.
ALEXIS I. DU PONT,
Secretary.
Office of the
LANSTON MONOTYPE MACHINE COMPANY,
Philadelphia, Pa.
The Board of Directors has this day declared
a quarterly dividend of 1 ^ per cent on the
Capital
Stock of this Company, payable on the 30th day
of September 1910 to stockholders of record at
the close of business September 23 1910.
J. SELLERS BANCROFT,
Treasurer.
Philadelphia, September 6 1910.
Checks will be mailed.
_
AMERICAN BEET SUGAR COMPANY
PREFERRED STOCK DIVIDEND NO. 45.
32 Nassau Street, New York, September 6,1910.
A Regular Quarterly Dividend (No. 45) of
One and One-half Per Cent
on the Preferred
Stock of this Company, has been declared, pay¬
able on October 1, 1910, to Stockholders of record
at the close of business September
21, 1910.
Cheques will be mailed.
J. E. TUCKER, Treasurer.
AMERICAN CAN COMPANY.
A quarterly dividend of One and One-Quarter
Per Cent (1)4%) has been declared upon the
Preferred Stock of this Company, payable on
October 1st, 1910, to stockholders of record at
the close of business September 16th,
1910.
Transfer Books will remain open.
Checks will
be mailed.
R. H. ISMON, Secretary.
XIX
UStaetings.
financial.
Norfolk & Western Railway Company
REPUBLIC OF CUBA
The Annual Meeting of the Stockholders of the
Norfolk & Western Railway Company will be held
at the principal office of the company In the
City of Roanoke, Virginia, on Thursday, the 13th
day of October, 1910, at 12 o’clock noon, to elect
directors, to elect independent auditors to audit
the books and accounts of the Company at the
close of the fiscal year, to consider the annual re¬
port of the directors for the fiscal year which ended
June 30th, 1910, to ratify and approve all action
of the directors set forth In such annual report
and In the minutes of the Company, to vote upon
a proposal to acquire, by
purchase, consolidation,
or merger, or by lease, the railroad, property and
franchises of the Big Stony Railway Company,
upon such terms as the Board of Directors shall
determine, and to approve and ratify any such
acquisition, and to vote upon a proposal to make
and carry out a contract for the lease or use of the
railroad, terminal facilities and property of the
Norfolk Terminal Railway Company or any parts
thereof, upon such terms as the Board of Directors
shall determine, and to approve and ratify any
such contract, and to transact such other business
as
may properly come before the meeting.
The meeting has also been called by the
,
Board
of Directors as a special meeting of the stockhold¬
ers of the Company to be held at the same time
and place to consider and act upon the following
special subjects, viz.:
To vote upon a proposal to increase the capital
stock of the Company Fifty Million Dollars, such
Increase to be common stock, divided Into shares
of the par value of One Hundred Dollars each, so
that the total capital stock of the Company shall
be
One
Hundred and
Seventy-three Minion
Dollars, divided Into one millon five hundred
thousand shares of common stock of the par value
of One Hundred Dollars each and two hundred
and thirty thousand shares of Adjustment Pre¬
ferred Stock of the par value of One Hundred
Dollars each; and
To vote upon a proposal to authorize the crea¬
tion and sale, on such terms and at such prices as
the Board of Directors from time to time shall de¬
termine, of an issue or Issues of bonds of this
Company to an aggregate amount of fifty million
dollars ($50,000,000), each of which bonds shall
be convertible at the option of the holder Into
Common Stock of the Company during such period
and
at
such rate
of conversion
as
shall
be
ex¬
pressed In the bond, and shall be payable at such
date, shall bear interest at such rate, and shall
contain such other terms and provisions as the
Board of Directors may prescribe, but all such
bonds that may be Issued shall not exceed in the
aggregate such amount as, at the rates of con¬
version expressed in the bonds, can be converted
into the Common Stock reserved for that purpose.
The stock transfer books will be closed at 3
o’clock p. m. Wednesday, September 28th, 1910,
and reopened at 10 o’clock a. m. Friday, October
14th, 1910.
By order of the Board of Directors.
E. H. ALDEN, Secretary.
The
Tri-City Railway & Light Co
NOTICE OF ANNUAL MEETING OF
STOCKHOLDERS
Notice is hei-eby given that the Annual Meeting
of the Stockholders of The Tri-City Railway &
Light Company will be held at the principal office
of the
Company at No. 11 Central Row, In the
City of Hartford, State of Connecticut, on the 15th
day of September, 1910, at the hour of one o'clock
P. M., for the purpose of considering and taking
action upon any matter which may lawfully come
before said meeting, including the following:
1. To consider and act upon the matter of the
Issuance of the Company’s bonds not exceeding in
amount $20,000,000 at any one time outstanding,
to be known as the Company’s First and Refunding
Mortgage Five Per Cent Gold Bonds and the
execution and delivery by the Company of a First
and Refunding Mortgage upon any or all of its
property and franchises, or upon all or any part
of the property and franchises of any of its sub¬
sidiary companies, for the purpose of securing the
payment of the principal and interest of the said
First and Refunding Mortgage Five Per Cent Gold
Bonds above mentioned, and to take any and all
action that shall to the stockholders seem neces¬
sary or desirable, in connection with, germane to,
or growing out of, action upon any of the matters
above stated.
2. To elect directors to take the place of the
directors of the Company whose terms are about
to
to stockholders of record at the close of
business September 24 1910.
RICHARD F. HOWE,
THE DENVER & RIO GRANDE
THE PACIFIC COAST COMPANY.
Company, 83 Montgomery St., Jersey City, Ne^
Jersey, on Thursday, the 13th day of Octobei
1910, at 12 o’clock noon, for the election of thre
Directors for a term of three years, and for th
transaction of such other business as may properl
come before the meeting.
Stock transfer book
will be closed at 3 p. m. on Thursday, the 22n
day of September, 1910, and re-opened at 1
o’clock a. m. on October 14th, 1910.
CLIFFORD C. FAY, Secretary,
B September 1st, 1910.
BP
...4.
...
34
40
47
50
51
54
55
64
65
66
68
79
81
83
87
89
90
92
93
96
97
98
99
100
101
106
107
109
114
115
117
123
129
133
134
135
138
142
144
150
156
161
163
164
167
168
169
170
172
175
177
180
181
186
191
194
201
204
205
214
218
219
220
222
223
224
228
229
233
235
237
241
252
257
258
259
RAILROAD COMPANY.
NOTICE OF ANNUAL MEETING.
New York, September 10, 1910.
Po the Stockholders of
The Denver & Rio Grande Railroad Company:
The annual meeting of the Stockholders of The
Denver & Rio Grande Railroad Company will be
teld at the principal office of he Company In
Denver, Colorado, at 12 o’clock noon on Tuesday,
Dctober 18th, 1910.
The meeting will be held
or the election of Directors and for the transaction
»f any other business pertaining to the Company
hat may be properly brought before It.
The books for the transfer of the stock of the
Company, both Common and Preferred, will be
losed for the purposes of the meeting at three
•’clock p. m. on Tuesday, October 4th, 1910, and
dll be reopened at ten o’clock a. m. on the day
ollowlng the annual meeting or the final adournment thereof.
^
_
STEPHEN LITTLE, Secretary
521
522
524
525
527
528
530
271
276
279 530
280 540
285 541
287 542
292 543
293 544
294 548
298 561
299
562
302
566
304
567
307 569
310 570
311 573
318
574
320 578
323
582
327 583
328 589
329 590
330 591
333
593
339 594
341
599
342 602
343
603
344 604
347
606
353 608
359 610
361
612
363 618
369 620
371 622
374
625
377 628
378 632
379 637
381
639
384 641
392 644
413 646
416 648
422 651
423 654
425 656
432 658
436 660
437 664
439 667
440 673
452 675
454
687
457
691
459 692
462 694
464 695
468 697
472 698
473 700
474 703
475 707
476 709
478 716
479 719
482 721
483 722
485 723
486 727
495 729
496 730
504 731
507 733
512 735
517 738
739
740
745
746
750
756
972
974
976
977
980
1202
1204
1208
1209
1214
982
1221
1224
759
766
989
990
772
993
773
995
774
997
777
998
778
1000
781 1011
782
1012
788
1015
795
1016
798
1017
808
1021
813 1023
815
1027
820 1029
821 1031
823 1039
826 1040
828 1042
829 1044
831 1046
832 1047
833 1050
834
1053
835 1057
836 1060
838
1062
841
1064
842
1065
843 1066
845 1072
847
1077
849 1078
851 1079
861 1080
862 1084
866 1088
869 1090
872 1091
874
1095
877
1096
881 1097
882 1098
883 1102
886 1109
888 1115
889 1117
892 1118
900 1119
902 1127
903 1128
905 1130
906 1136
1137
907
912 1140
915
1145
920 1150
1156
930
931 1157
934 1161
936 1162
938 1163
939 1164
940 1167
947 1172
948 1175
950 1176
952 1178
954 1183
956 1186
959 1188
964 1189
965 1190
966 1196
968 1198
1266
1269
1275
1277
1279
1283
1286
1287
1288
1289
1290
1292
1294
1295
1297
1299
1301
1303
1311
1312
1313
1319
1320
1326
1333
1335
1336
1340
1351
1354
1355
1357
1362
1363
1364
1367
1368
1370
1371
1374
1378
1383
1384
1386
1387
1388
1398
1400
1402
1408
1411
1413
1414
1416
1418
1419
1420
1423
1427
1428
1915
1917
1919
1922
1927
1928
1929
1930
1931
1936
1939
1940
1941
194$
1945
1947
1948
1951
1952
1953
1957
1961
1963
1964
1972:
1974
1976
1970
1984
1985
1987
1989
1993
2001
2002
2012
2018
2020
2023
2024
2032
2034
2036
2041
2044
2049
2050
2053
2055
2056
2061
2062
2063
2068
2073
2077
2080
2082
2085
2086
2089
2091
2092
2093
2009
2100
2102
2106
2107
2108
2110
2120
2121
2123
2125
2130
2134
the
of
April 22nd, 1910.
The above-mentioned bonds, as well as the
Coupons due October 1st, 1910, will be paid at
our
on and after that date.
following bonds drawn for redemption
office
The
PER OCTOBER 1st, 1909
have not yet been presented for payment:
39
45
433
1417
1995
2021
137
458
41
1903
2005
2051
Interest on these Bonds ceased on October 1,
1909.
New York, September 1st, 1910.
SPEYER & CO.,
24-26 PINE STREET.
fgUjetlttflg.
UNION PACIFIC RAILROAD COMPANY.
ANNUAL MEETING.
The annual meeting of the stockholders of Union
Pacific Railroad Company will be held at the office
of the Company, In Salt Lake City, Utah, on
TUESDAY, October 11, 1910, at twelve o’clock
noon, for the election of fifteen Directors of the
Company, and for the transaction of such other
business as may legally come before the meeting.
The books for the transfer of stock (both Com¬
mon and Preferred) will be closed for the purposes
of the meeting at 3 o’clock p. m. on Monday
Sept. 12, 1910, and will be reopened at ten o’clock
a. m. on
Thursday, October 13. 1910.
ALEX. MILLAR, Secretary.
Dated August 23, 1910.
LOUISVILLE & NASHVILLE
RAILROAD COMPANY.
^
t
The Annual Meeting of the Stockholders of the
•oulsvllle & Nashville Railroad Company will be
eld at the office of the Company, in the City of
o’clock Noon on
Wednesday, October 5th, 1910.
The Stock Transfer Books will close on Friday,
eptember 23rd, 1910, at three o’clock p. m.,
oulsvllle, Kentucky, at twelve
nd re-open on Thursday,
D o’clock a. m.
October 6th, 1910, at
_
J. H. ELLIS,
_
Secretary!
Louisville, Ky.,|September|l, 1910,
b
<b
1229
1230
1233
1237
1238
1239
1242
1244
1247
1249
1251
1258
1262
1263
1264
1429 1636
1434 1637
1435 1639
1440 1644
1442 1647
1445 1648
1446 1653
1448 1655
1451
1657
1452
1658
1453 1660
1457
1661
1458 1664
1461
1672
1465 1680
1469
1683
1470 1687
1476 1691
1479 1695
1481 1696
1485 1698
1492 1703
1496 1708
1498 1711
1499 1721
1500 1725
1503 1729
1504 1730
1507 1733
1508 1734
1510 1735
1516
1738
1518 1739
1521
1741
1522
1745
1531
1749
1532
1753
1535 1754
1537 1765
1538 1766
1541
1767
1544 1781
1546 1782
1548 1784
1549 1788
1550 1789
1551
1791
1552 1793
1553 1796
1554
1805
1555 1809
1556 1811
1563 1814
1564 1818
1565 1819
1573 1822
1575 1824
1580 1825
1582 1826
1585 1832
1588 1833
1589 1839
1590 1840
1591
1841
1592 1850
1595 1851
1598 1858
1600 1859
1606 1861
1611 1666
1613 1871
1615 1883
1616 1893
1621
1894
1622 1901
1624 1902
1625 1907
1626 1908
1629 1910
1631 1912
1633 1913
1635 1914
The decree to this effect was published In
“Gaceta Oflcial” of the Republic of Cuba
ness
clared
The annual meeting of the stockholders of Th
Pacific Coast Co. will be held at the office of th
28
29
264
265
266
268
270
expire.
INTERNATIONAL HARVESTER COMPANY.
Quarterly dividend No. 3 of 1% on the Common
Stock, payable October 15 1910, has been de¬
fJ&jejettttgs.
1
3
4
19
Also any and all other matters and business
which may lawfully be acted upon at said meeting.
The transfer books for the transfer of the stock
of the company will close with the close of busi¬
on Wednesday, the 7th day of September,
1910, and will reopen the day succeeding the day
of the final adjournment of said annual meeting.
Dated August 30, 1910.
By order of the Board of Directors.
THE TRI-CITY RAILWAY & LIGHT CO.
By M. K. PARKER, Secretary.
49 Wall St., New York.
Secretary.
6% Gold Bonds of 1896
Holders of outstanding Bonds are notified that
the following Bonds have been drawn for re¬
demption per October 1st, 1910, after which date
the Interest on the same will cease:
Nos.
THE CHRONICLE
XX
[Vol.
lxxxxi.
IPwatteial.
+>**0*0*0**** »WUVUVWWWW»M>.M^VWW^^
i^WWWMWW>WWMWMMWWS>WV^^
Cable Address*
Codes Used;
Lieber and ABC 5th Edition
“Hoo^ht” Chicago
PeabodyHoHghteling &Co.
(Established 1865)
181 La Salle Street,
CHICAGO
We carry
at all times
a
conservative line of high-grade Investment Securities, including:
CHICAGO REAL ESTATE MORTGAGES
In amounts of from $10,000 to $100,000 each, secured upon
Our
judgment in such important requirements
as
valuation of security, quality of improvements, de¬
sirability of location and income value is the result of
in the
Chicago field.
valuable improved Chicago Real Estate.
over
forty years7 active and continuous experience
Such mortgages yield from 5 to 6%.
CHICAGO REAL ESTATE SERIAL GOLD BONDS
In denominations of $500 and
$1,000 each, secured by first mortgage upon high-grade modern
Apartment Buildings, well-located Mercantile
Office
or
Manufacturing Buildings,
or large
modern down-town
Buildings—a most convenient and desirable form of investment yielding from 5 to 6%.
RAILROAD, CAR EQUIPMENT AND TRACTION BONDS
Having behind them in
every case a
earnings and sound management.
substantial margin of security, successful history, ample
Such bonds yield from 4to 5^%.
STEAMSHIP BONDS
First Mortgage Serial Bonds secured upon modern Steel Steamships on the Great Lakes enjoy
an
enviable
reputation in the investment market.
been unable to discover
are a
a
After
a
single instance of default in interest
most
or
searching investigation,
principal in such issues.
we
have
Such bonds
legal investment for Michigan Savings Banks and yield 5%.
INDUSTRIAL BONDS
Secured upon such staple natural resources
increasing in value, and which
are so
protection of principal and interest.
as
developed
Timber, Coal and Iron Ore Lands, which
are
steadily
to have ample income-producing capacity for the
as
Also the bonds of well-known manufacturing corporations having
long-established and successful histories.
The
margin of security in such bonds is invariably
very
large, and the bonded debt is always payable in substantial annual
or
increasing the value and safety of the investment from
These bonds net from 5 to 6%.
year
to year.
semi-annual amounts, thereby
SEND FOR DESCRIPTIVE CIRCULARS
NOTICE
We
.
are
in the market for entire issues of bonds of the character indicated above.
cordially invited, and will receive
; : /.:w
our
Offerings
are
prompt attention.
r..i >;
:
■■
'
;
j ’ -y:
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Electric
Bankers* Convention Section
State and
Railway Section
City Section
•
i i
.
.
VOL. 91.
SATURDAY, SEPTEBMER 10 1910.
Clearings at-
PUBLISHED WEEKLY.
Subscription—Payable in Advance
For One Year
For Six Months
$10 00
6 00
European Subscription (including postage)
European Subscription six months (including postage)
Annual Subscription in London (including postage)
8ix Months Subscription in London (including postage)
Canadian Subscription (including postage)
3,3
7
£2
£1
00
50
14s.
Us.
$11 50
Subscription includes following Supplements—
State and City (semi-annually)
Quotation (monthly)
B ank and
Railway and Industrial
(quarterly)
Railway Earnings (monthly)
Terms of
Electric Railway (3 times yearly)
Bankeks’ Convention (yearly)
22 00
Months (13 times).
) Three
gix Months
29 00
(2o times)
50 00
L Twelve Months (52
87 00
times)
CHICAGO OFFICE—Pliny Bartlett,513 Monadnock Block; Tel. Harrison 4012
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
.
WILLIAM
P. O. Ilox 95S.
B. DANA
New York.
Published every Saturday morning by WILLIAM B. DANA COMPANY
William B. Dana, President; Jacob Seibert Jr., Vice-Pres. and Sec.; Arnold
CL Dana, Treas. Addresses ot all, Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., Indicates that the total
bank clearings of all clearing houses of the United States for week ending
to-day have been $2,219,113,391, against $2,617,238,629 last week and
$2,577,398,641
the corresponding week last year.
Clearings—Returns by Telegraph.
Week ending Sept. 10.
1910.
New York
Boston
$891,821,780
84,254,922
__
Philadelphia
Baltimore..
85,929,528
$1,195,014,061
87,487,396
—25.4
—3.7
+ 4.6
+ 18.6
—7.6
82,187,649
17,800,535
191,358,174
48,785,458
9,882,630
$1,320,474,455
389,874,698
$1,632,515,903
388,761,217
—19.1
$1,710,349,153
508,764,238
$2,021,277,120
556,121,521
—15.4
—8.5
St. Louis
New Orleans.
Seven cities, five days
Other cities, five days
Per
Cent.
1909.
21,118,393
176,748,593
48,863,919
11,737,320
.
Chicago
Peoria
+0.2
+ 18.8
+0.3
All cities, one day
Total all cities for week.
$2,219,113,391
$2,577,398,641
—13.9
The full details for the week covered by the above will be given next Sat¬
urday. We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence In the above the last day
of the week has to be In all cases estimated, as we go to press
Friday night.
We present below detailed figures for the week ending with
Saturday,
September 3, for four
years.
Week ending September 3.
Clearings at—
1910.
1909.
Inc. or
Dec.
1908.
S
Philadelphia....
Pittsburgh
Baltimore
Buffalo.
Washington
Albany
....
.
Rochester
Scranton
14.) ,8 14,51 i
136,147,602
43,051,126
26,358,511
7,788,553
5,483.846
44,371,624
27,464,114
8,496,005
5,418,829
4,795,416
5,616,174
3,872,724
2,433,380
Syracuse
Reading
Wilmington
.
Wilkes-Barre
Wheeling, W. Va.
Harrisburg
Trenton
York
Erie
$
1,462,574,219 1,903,057,500
.
...
Greensburg
Chester
Binghamton
....
Altoona
Franklin
4,424,268
2,384,940
2,233,013
1,270,555
1,234,595
1,148,335
1,454,606
1,429,143
1,424,168
808,284
668,340
494,816
435,763
636,800
351,386
262,500
2,091,845
1,314,031
1,203,521
1,112,727
1,420,286
1, 98,3 >3
1,287,765
893,500
752,020
520,374
507,445
398,800
407,065
225,000
Total Middle.. 1,719,863,5)9 2,148,164,824
Boston
Providence
Hartford
New Haven
Portland
Springfield
Worcester
Fall River
New Bedford
Holyoke
Lowell
Tot. New Eng.
S
S
%
—23.1 1,617,805,940 1,223,128,569
+ 7.8
138,188,629
123,423,624
+3.1
+ 4.2
+9.1
—1.2
—14.6
—12.5
+2.1
—10.8
+3.5
—2.5
—3.1
—2.4
+4.8
—9.6
+ 10.5
+ 12.6
+ 5.3
+ 16.5
—37.4
+ 15.8
—1».3
38,817,801
21,126,696
7,282,323
4,629,992
4,594,601
3,340,540
2,079,215
1,597,521
1,119,901
1,066,641
1,075,762
1,413,206
1,150,000
1,243,760
788,935
564,179
500,000
440,778
397,200
345,044
250,000
43,811,544
27,124,677
Evansville
Kalamazoo
Lexington
Youngstown
Akron
Rockford
Bloomington
Canton
Quincy
South Bend
Decatur
Mansfield
Danville.
Jackson
Jacksonville
Ann Arbor.
Adrian
Lima
Saginaw..
Lansing
1,271,145
756,569
596,229
517,019
514,622
518,900
255,035
—19.9 1,849,029,729 1,450,564,978
144,941,459
—9.6
135,483,698
5,798,800
3,358,147
2,552,557
2,086,429
+ 5.9
+2.1
871,339
919,346
506,454
368,820
783,548
1,057,448
—3.2
+21.7
+ 11.2
5,383,700
3,029,796
2,009,070
1,886,203
1,473,511
1,323,583
599,815
—13.1
470,009
400,961
587,403
+7.7
—8.0
472,694
370,757
120,025,872
5,310,400
2,769,992
1,954,839
1,967,093
1,698,018
1,424,781
787,880
601,482
510,534
431,499
164,595.276
—8.3
152,620,230
137,482,388
1,600,000
1,545,898
•
—8.7
—8.9
$
Tot. Mid. West.
345,435,860
San Francisco...
Los Angeles
Seattle
Portland
44,436,281
13,603,393
9,224,939
9,516,948
3,889,096
5,122,832
5,462,109
3,182,739
1,170,174
1,050,000
977,950
559,649
709,411
582,779
378,000
150,000
500,000
Spokane
Salt Lake City..
Tacoma
Oakland
Sacramento.....
San Diego.
Helena
Stockton
Fresno
San Jose
North Yakima..
Billings
Total Pacific..
Kansas
City
Minneapolis
Omaha..
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Duluth.
Lincoln
.
DavenportTopeka
Cedar Rapids
Springs
Fargo
Sioux Falls...
Pueblo
Fremont
Tot.other West
948,719
1,032,711
%
Louisville
Houston
Galveston
Richmond
Fort Worth
Memphis
Savannah
Atlanta
Nashville
Norfolk
_*
Birmingham....
Knoxville
Jacksonville
Augusta
Chattanooga
Oklahoma
Mobile
Little Rock.....
Charleston.
Austin
Beaumont
Macon
Vicksburg
Wilmington, N. C
Jackson
Meridian
Total Southern
Total all..
253,981,870
22,670,350
18,226,919
13,361,050
10,736,341
7,455,568
5,931,200
4,324,821
2,814,469
2,269,354
2,181,467
1,824,799
1,144,572
929,375
875,074
585,337
882,836
695,000
527,586
494,746
710,130
507,930
470,545
483,537
437,228
526,981
395,999
264,000
274,358
134,2.3
22,492
356,215
581,188
Not included
St. Louis..
New Orleans....
130,989,526
6,140,100
3,429,067
2,330,094
1,901,269
1,548,480
1,880,405
150,884,900
_
4,841,303
4,799,793
3,230,292
2,137,851
1,059,980
1,276,013
$
Dayton
(7,216,733
[2,103,650
1908.
$
2,341,735
1,763,198
1,068,054
880,149
921,098
741,395
839,066
820,000
591,494
687,563
916,937
545,848
475,195
561,926
516,959
454,130
452,657
277,200
337,827
144,936
26,918
365,353
540,660
Colorado
New York
Inc. or
Dec.
2,482,236
_
1907
1909.
Grand Rapids.__
Pasadena
Total all cities, five days
noon,
Indianapolis
Columbus
Toledo
Springfield, Ohio.
COMPANY, Publishers,
Front, Pine and Depeyster Sts.,
Cincinnati
Cleveland
Detroit.
Milwaukee.
Fort Wayne
$4 20
1910.
238,894,570
21,089,600
18,360,657
14,459,636
11,299,416
9,089,835
6,447,600
4,416,887
2,685,125
Chicago
Springfield, Ill.
Advertising—Per Inch Space
Transient matter per inch space (14 agate lines)
r Two Months
(s times)
Standine business
Business earns
Cards <
standing
;
Week ending September 3.
JJu (LXxxtmitlz.
Terms of
NO. 2359.
357,077,550
39,673,540
11,344,340
10,425,790
6,871,043
4,171,245
5,776,058
5,204,004
2,154,694
986,829
935,000
703,728
619,048
488,188
445,000
302,951
196,882
413,171
—5.2
—7.0
+0.7
+ 8.2
+ 5.2
+ 21.9
+ 8.7
+2.1
—4.6
+ 9.4
+ 7.3
—3.4
—6.6
—5.3
+ 5.3
+26.7
—5.0
223,452,923
22,257,850
16,958,866
11,296,239
10,196,310
7,201,202
4,683,900
4,051,283
2,557,826
2,007,334
2,183,419
1,662,327
,911,272
851,666
699,309
534,253
634,303
620,000
412,880
431,478
827,707
550,343
449,561
400,707
376,196
355,374
319,054
240,000
234,415
131,431
20,920
237,000
+ 18.0
+ 12.1
+39.0
+29.1
+7.5
+ 1.0
+ 16.1
+ 18.2
—13.8
+ 14.3
+ 5.0
+23.1
+ 8.0
+ 19.7
+2.6
—3.2
317,747,348
+ 12.0
+ 19.9
—11.5
36,523,154
8,505,164
8,209,347
6,504,749
3,077,215
4,781,785
3,961,509
1,620,455
852,906
785,000
691,110
591,070
465,786
515,173
205,942
166,040
+38.5
—6.8
—0.9
+ 5.0
+ 47.7
+ 18.6
+ 12.3
+33.0
—9.6
+45.3
+31.0
+24.8
—23.8
+ 10.8
77,456,405
45,151,302
17,253,307
14,264,155
9,649,296
7,774,718
5,572,962
3,553,942
2,539,898
2,694,684
2,493,725
1,351,226
1,302,077
1,245,621
.1,068,254
406,069
534,867
660,000
548,377
353,569
+8.9
+33.9
+ 10.1
36,367,409
17,287,958
11,035,556
7,867,939
7,074,470
4,947,245
2,681,245
2,171,840
1,288,341
10,693,387
16,470,551
8,793,500
6,188,610
4,631,201
3,295,520
3,315,396
6,808,077
3,125,000
2,191,376
2,122,274
1,895,684
1,871,381
1,177,829
1,333,278
2,027,820
1,289,340
1,054,043
931,045
1,20 >,000
450,0 )0
605,000
180,595
405,000
270,000
225, >00
168,398,069
3,722,803
3,039,998
2,133,036
1,807,445
1,756,014
884,606
915,622
711,252
551,800
489,161
565,000
486,985
523,268
516,712
466,397
551,974
393,398
477,696
368,390
266,311
341,202
110,607
20,000
324,000
316,049,325
38,645,461
9,618,942
9,286,786
6,403,682
2,643,877
4,748,830
4,443,780
2,630,314
811,655
600,000
543,078
—6.7
+ 11.5
+3.9
—ll.7
+21.9
+ 13.7
+35.9
+2.8
+28.8
80,376,405
33,758,197
19,717,569
10,312,058
6,791,236
7,916,313
6,204,516
3,227,002
2,126,228
1,091,599
923,538
997,735
961,644
847,479
503,340
394,266
475,000
436,331
330,138
1,203,607
1,276,356
1,257,968
+ 11.5
+ 1.7
70,665,562
+ 1.9
13,718,240
—8.5
11,688,841
11,658,079 + 41.1
5,667,000 + 55.2
+3.6
5,974,661
4,945,133 —63.5
+3.1
3,195,894
5,191,184 —36.1
5,750,000 + 18.3
—9.7
3,460,000
—3.2
2,263,864
+ 8.1
1,963,566
1,576,367 +20.2
1,425,000 +31.3
.1,392,932 —15.4
1,168,510 + 14.1
1,500,000 +35.2
1,106,643 + 16.5
1,286,585 —18.1
+ 9.7
848,755
785,115 + 52.8
—5.4
475,694
791,515 —23.6
154,128 + 17.2
292,072 +38.7
308,000 —12.3
204,557 + 10.0
96,591,474
97,946,529
70,817,382
10,448,773
10,398,123
11,108,075
7,276,000
5,455,561
5,137,593
3,263,834
3,173,368
3,443,977
3,053,797
1,687,366
1,614,299
1,478,852
1,222,473
1,144,975
996,547
59,164,731
11,715,293
11,839,859
9,187,232
6,904,000
4,997,066
3,194,041
+ 5.6
147,672,790
—8.1
—15.8
+ 10.8
+6.2
+ 44.7
—11.7
+ 10.3
118,417,169
159,459,897
2,617,238,629 3.047,427,107
Outside N. Y_ 1,154,6)4,413
18,418,742
12,207,720
10,408,148
7,189,200
5,499,500
+21.0
90,711,511
132,079,931
71,872,232
13,975,130
24,174^550
—7.0
49,161,931
23,109,889
15,705,077
9,005,895
8,667,164
5,789,264
3,13 >,371
3,094,876
3,063,402
3,389,207
1,388,855
1,144,111
9*0,000
450,000
567,918
955,276
484,256
389,944
$
216,727,788
in total
100,516,300
1,676,495
1907.
1,144,363,607
—
14.1
980,804
927,461
901,415
686,444
607,493
474,991
506,906
207,281
310,000
348,000
620,582
652,210
430,848
490,000
469,095
401,136
3,262,176
4,121,860
3,805,302
3,795,628
1,936,007
1,975,348
1,595,346
1,339,792
1,137,681
1,305,000
1,028,487
1,312,144;
1,106,330
810,000
471,215
457,059
400,000
136,86l;592
2,641,116,976 2,218,281,217;
+0’9'1,023,311,036
Note.—For Canadian clearings see “Commercial and
996,152,648
Miscellaneous News."
THE CHRONICLE
608
[VOL.
LXXXX1.
1909
THE FINANCIAL SITUATION.
The foremost need of the
reaching $742,327,785, the revenue in 1910 on
higher rates proposed would be $769,355,230. The additional revenue, therefore, from the
higher rates would be $27,031,445, or less than 4%.
On the other hand, the addition to expenses by reason
of the advances in wages will be $34,756,519.
It fol¬
lows that the higher rates proposed will fall $7,725,075
short of meeting the additions to expenses caused by
the advances in wages.
This being so, the increase in
rates contemplated cannot be held to be either im¬
the basis of the
day is authority for the
railroads to raise their rates in the moderate way pro¬
posed by them so as to overcome in part the advances
which they have been obliged to make the
present year. In that sense the hearings now being
conducted by examiners on behalf of the Inter-State
in wages
Commerce Commission to determine if the Commission
shall
give its sanction to the increases are of the utmost
importance. Upon the outcome of these hearings, proper or unreasonable.
If these computations have been made in accordance
and the Commission’s action upon the same, will de¬
pend the measure of prosperity which the railroads are with erroneous methods, counsel for the shippers are
to enjoy in the future and the stability of investments justified in undertaking to establish the fact, but they
In railroad properties.
But it is not merely the rail¬ should not be allowed to drag in extraneous and irrele¬
Whether a road is over or under capi¬
roads that have a vital interest in the matter. The vant matters.
-country’s industries at large also have much at stake talized is wholly immaterial to this particular question.
in a right determination of the question, for anything The roads seem to have gone to great trouble and ex¬
that threatens the well-being of the railroad carrying pense, too, to arrive at correct estimates, and their
trade and disturbs confidence in the value and earning statements, therefore, cannot be reasonably impugned
capacity of railroad stocks and bonds will inevitably and should not be lightly thrown aside. One of the
react unfavorably upon general trade, the railroad witnesses stated in response to a query as to why the
industry being of such tremendous magnitude—it computations could not be extended back five years,
constituting the largest single consumer of iron and that it had taken 275 clerks six weeks to furnish the
steel in the country.
figures submitted, covering merely a single year. Al¬
To the casual, reader the chief feature of interest together, then, the railroads would appear to have
in the proceedings at the hearings which began in this already established their point—unless it can be shown
city the present week on, the proposed advances in that their calculations are inaccurate.
The figures given deal only with the Eastern trunk
Eastern trunk line territory has no doubt been the
tilts between opposing counsel and the adroit moves lines. On these the advances in wages aggregate,
of each side to weaken the position of the other. But we have seen, $34,756,519. But wages in other parts
while these sallies are entertaining, the subject is too of the country have also gone up, and the roads in
serious a one to be treated jauntily. It seems to us, trunk-line territory cover only about 50,000 out of
too, that the scope of the inquiry should be strictly 240,000 miles of road in the country. It will therefore
limited. If this is not done, the investigation may be be seen that it is no exaggeration to say that, on the
prolonged indefinitely and there will be no way of whole railroad system of the United States, expenses
bringing the hearings to an end. Furthermore, unless have been increased over $100,000,000 per year through
the subject matter of the inquiry is kept within rigid the advances in wages.
How is this extra yearly out¬
bounds, confusion will be sure to result, increasing the lay to be met except by an increase in rates?
difficulty of arriving at a proper understanding of the
situation and of reaching correct conclusions.
It should be understood, too, that future advances
In the present instance, it appears to us, the points in the pay of railroad employees will be positively
at issue are veiy simple.
The railroads rest their barred out if the carriers are not to be allowed to raise
claim for a slight increase in rates in the main on the their rates when they incur large extra outlays on
fact that advances in wages are adding enormously that account. This fact is recognized in an arbitra¬
to their yearly outlays. The matter, therefore, becomes tion award that was made last week in the case of the
one of computations.
How much do the advances in employees of the United Traction Co. of Albany. The
wages aggregate per year?
What added revenues traction employees had requested an increase of 20%
will the proposed increases in rates yield? The officials in their pay, basing their request upon the great in¬
of the roads recognize what the occasion calls for, crease in the cost of living, and the matter was re¬
but the representatives of the shippers seem bent on ferred to three arbitrators, who handed down their de¬
dragging in all sorts of side issues, evidently realizing cision at the beginning of this month. They say that if
that on a straight presentation of the facts they are there were no other consideration to be observed they
foredoomed to defeat.
At the hearing this week the would unhesitatingly support the claim for a 20% in¬
railroads in official classification territory presented crease, since they are of opinion that this would not
a
consolidated statement indicating the revenue overcome the advance in the cost of living since 1907.
realized by them on their freight business in 1909, Under existing circumstances, an increase of only 4%
together with an estimate of the revenue to result at is recommended, this to be in effect from June 30 1910
the new rates. The statement also shows the addi¬ to June 30 1911. The arbitrators go a step further,
tions to expenses from the advances in wages.
however, and recommend that the traction company
Official classification territory, it is pointed out, make application to the Legislature of New York for
covers the section of the country east of St.
Louis the passage of an Act enabling the ocmpany to charge
and Chicago and north of the Ohio River, including all one cent for each transfer issued within the limits of
of New England. There are 50,554 miles of road in the cities in which the company operates. It is cal¬
this territory, and the roads in it serve more than two- culated that this charge for transfers would enable the
thirds of the population of the entire country.
It is company to pay its employees a 10% increase over
figured that, with freight revenues for this mileage in the wages paid u to June 30 1910, and they agree that
.
Sept. 10
such
1010.]
THE CHRONICLE
609
10% advance shall take the place of the 4% ductive by the Federal Government, or worked only
increase actually awarded as soon as the proposed on leases whose proceeds went into the Federal treasury
legislation should become effective. This, it seems to and enabled Congress to squander a few more millions
us, is the proper way of treating the question.
If in annual appropriations.
The attempted Federal control of water powers is
wages are to go up, then rates must also go up, and
if the latter is to be denied, then the first must fail. illegal, Mr. Hill asserts, because the use of the waters
We commend these suggestions to the consideration of within a State is the property of the State and cannot
shippers and also to the Inter-State Commerce Com¬ be taken from it. The worst scandals of State land
mission and its examiners.
misappropriation , he thinks, are insignificant when
compared with the record of the nation. Any con¬
Conservation of the country’s resources has occupied servation movement worthy of the name must place
a large share of public attention the present week.
high upon its program the saving of capital and credit
The National Conservation Congress has been in from the rapacious hands of socialist as well as mo¬
session at St. Paul. President Roosevelt made an nopolist. In Mr. Hill’s opinion extravagance is un¬
address before it, urging, as it was known he would, dermining the industry of this country as surely as the
Federal control of undeveloped resources, water barbarians broke down and looted that mighty empire
powers, &c.
President Taft also delivered an address, with whose civilization and progress Ferrero repeatedly
a
in which he leaned towards State control of water¬
sites, &c., under Federal regulation, and in
power
which he took occasion to declare that “the time has
for
halt in
general rhapsodies over conserva¬
tion, making the word mean every known good in
the world.”
Other speakers also addressed the con¬
gress briefly or at length.
It seems to us, however,
that the address par excellence was that of James J.
Hill. In his words there is not only wisdom, but
practical, every-day common sense. The address
deserves the widest possible dissemination.
Mr. Hill
urges State rights, but he speaks as a man of affairs,
and he gives facts and figures in support of his position
that cannot fail to have great weight with thinking
people everywhere. The need of the hour, declares
Mr. Hill, and the end to which the National Conser¬
vation Congress should devote itself, is to conserve
•conservation. It has come into that peril which no
great truth escapes, he says—the danger that lurks
•come
a
in the house of its friends. It has been used to forward
that serious error of policy, the extension of the powers
and
activities of the National Government at the
oxpense of those of the State.
Mr. Hill points out—what is
that there
are
The machine is too
big
distant; its operation is slow, cumbrous and
costly—so slow is it that settlers are waiting in distress
for water promised long ago.
It costs the Government
from 50% more to twice as much as it would private
enterprise to put water on land. Toward the conser*
vat ion of our mineral resources dittle can be done,
Mr. Hill declares, by Federal action.
The output is
determined not by the mine-owner but by the con¬
sumer.
The withdrawal of vast areas of supposed
eoal lands tends to increase price by restricting the
area of possible
supply. It is foolish to talk of leasing
coal lands in small quantities in order to
prevent mon¬
opoly. Mining must be carried on upon a large
enough scale to be commercially possible. There is
little practical difference between a resource withheld
entirely from use and a resource dissipated or exhaus¬
ted. The iron deposits of Minnesota are to-day not
only furnishing industry in the nation with its raw
material, but are piling up a school fund at home
that is the envy of other States and adding more and
more every year to the contents of the State’s
treasury.
Minnesota is considering the reduction of her general
tax levy by one-half.
Would it be better, asks Mr.
Hill, if these lands were to-day held idle and unpro¬
and too
ours
has
so
much in
Mr. Hill finds the tariff in
common.
respects
whatever
some
a
great
of conservation. He says,
we may
as a general industrial policy,everyone
can
see that by excluding the raw products of other coun¬
tries it throws the entire burden of their consumption
upon our own resources, and thus exhausts them un¬
necessarily. The tariff on forest products cuts down
our own forests.
A tariff on coal depletes our mines.
A tariff on any raw material forbids the conservation
of similar natural resources here. Concluding, he
says: “ ‘Conservative’ is the adjective corresponding
to
the noun ‘conservation.’
Any other attitude
toward this movement, either radical or reactionary,
is treason to its name and to its spirit
It should mean
no more and no less than
dealing with our resources in a
spirit of intelligence, honesty, care for both the present
and the future, and ordinary business common sense.
Conservation does not mean forbidding access to re¬
enemy
think of it
.
that could be made available for present use.
It means the freest and largest development of them
sources
consistent with the
public interest and without waste.”
were ever spoken.
They
are the words, too, of a man with a
practical knowledge
of affairs, a man who has devoted his whole life to de¬
veloping the hidden wealth and the untold resources
of the great Northwest, by supplying it with trans¬
portation facilities, a man who will always rank as
one of the
empire-builders of his time. The advice of
such a man, with a record of accomplishment behind
him, is worth more than the vaporings of a ten-acre
lot of Roosevelts, Garfields and Pinchots, who never
have and never will contribute anything to the real
industrial development of the country.
No truer words than these
known to all students—
dangers inseparable from national con¬
trol and conduct of affairs.
insists that
Both the iron and the copper
for the month of August have
statistics of production
been made public this
week, and the results are in sharp contrast. In the
case of iron there has been a
gradual curtailment of
the output as the demand for and consumption of iron
has fallen off. This has been done, too, apparently
without any concert of action on the part of the differ¬
ent producing interests, though the wise example set
by the United States Steel Corporation in regulating
supply in accord with consumptive needs has no doubt
had much influence in inducing outside producers to
pursue a similar sensible course.
For August the make
of iron was only 2,106,847 tons, which compares with
2,148,442 tons in July, 2,265,478 tons in June, 2,390,180 tons in May, 2,483,763 tons in April and 2,617,949
610
THE CHRONICLE
tons in March.
Thus there has been
[VOL.
LXXXXI.
gradual but ence and apparent conflict of interests troubled the
that the yearly latter; disturbances in the finances also came in to
a
growing restriction of production, so
rate of output now is
only about 25,000,000 tons, as check the whole. Meanwhile, the Long Island road
against a rate of over 31,000,000 tons six months ago. was acquired by the Pennsylvania, thus increasing the
Under such a policy the iron trade will be
quick to fee} necessity of conquering the problem. The late Austin
the influence of general trade revival the moment it Corbin had
schemes (or dreams, as they seemed
arrives.
then) for making the Island road a through line. The
In the case of the
late
William H. Baldwin began a
copper trade quite the opposite
campaign, which
policy has been pursued. Much has been made of the his successor has continued, for making the Island
slight reduction in copper stocks during August, but known, both as a region for homes and of agricultural
these stocks are still very
large, and the really important and horticultural value. This great adjunct to the
feature in the month’s return is the further
expansion city, long supposed sandy and barren, has now been
in production.
In July there had been a decrease in “discovered”; it is really varied and fertile. Electric
the output, and this had been
accepted as a herald of propulsion came forward in its time, to transform all
a
new
policy. The August figures now, however, local travel almost at once, and possibly to finally
again show an increase, to the largest figures ever transform general transportation as well;
immediately
reached in any single month.
In brief, the product tunnel operation became feasible, while tunnel con¬
in August reached 127,803,618 pounds, as
against struction also had advanced from a stage of uncer¬
118,370,003 pounds in July and 120,597,234 pounds tainty to that of straightforward
engineering work.
in August of last year.
Stocks were reduced 1,759,433 These changes, superficially independent, have all been
pounds, owing to the fact that the deliveries for both acting to one end. So now, just as we learn from
domestic consumption and for export were rather the Census what we have for
some
years been
above the average.
This last would be a favorable impressively learning in other ways, about the pro¬
feature except that the deliveries
vary greatly from digious growth of the metropolis, the through line to
month to month, and not much of an
argument can the “beyond” is opened.
be built on the results for a
This colossal work has been constructed
single month. Stocks
during the
now after the reduction stand at
168,881,245 pounds, past ten years and is the fulfilment of intentions which
as against
135,196,930 pounds at the end of August became firm and definite only within the last twenty.
last year and 141,766,111 tons at the
beginning of In all true senses, the work goes beyond the figures of
1910, as will be seen from the following tabular pre¬ detail which have been gathered about the
huge sta¬
sentation comparing the results for
August in the two tion and the lines across city and beneath rivers. It
years and also for the eight months ending with August
is an achievement truly entitled to be called
“great”;
August
Jan. 1
Aug. 31
in the foresight of its conception, in the
imagination
1910.
1909.
1910.
1909.
Stocks beginning period..lbs.170,640,678
which saw the end from the beginning, in the
122,596,607 \ 141,766,111
122,357,266
ability
Production
127,803,618 120,597,234
963,440,171
920,267,446
which planned and, by making others partake of the
Total supply
.298,444,296 243,193,841 1,105,206,282 1,042,624,712
Deliveries for—
vision, was able to finance it; in its vast value to the
Domestic consumption.._ 67,731,271
59,614,207
512,715,342
448,747,447
Export
city, and in the far-reaching consequences which will
61,831,780 48,382,704
423,609,695
458,680,335
.
to
*
129,563,051 107,996,911
Stocks end of period
168,881,245 135,196,930
936,325.037
907,427,782
~168,881,245
135,196,930
flow from it.
urged that time will be needed to make the
policy—which we are given to understand
really inaugurated in August—effective, and that
curtailment
not before November
can
output be looked for.
But if that be so, what accounts
any
important decrease in
for the sudden very
large
occurred in July (about
succeeded
by
a
drop in production which
9,000,000 lbs.), only to be
renewed increase in August?
On
Thursday, celebrated somewhat in Brooklyn as
“Long Island’s Day,” regular public traffic began
through the New York
terminal of the
Pennsylvania
opening is the culmination
called, in a figurative yet quite real
sense, the Thirty Years’ Siege of Manhattan
Island,
the “besieged”
having had for defense only the river,
which represented the ancient moat.
For during
almost forty years, since the
Pennsylvania extended
its lines to the New
Jersey shore, it has been stopped
by the Hudson; but (in the words of Mr. Cassatt, about
and its river tubes.
of what has been
This
ten years
ago) it was never able to feel reconciled to
being prevented from entering the most populous and
important city by a river less than a mile wide.
While ferries have been actually used until
now,
the plan for making entrance has
from
gone
car-floats
to bridge and tunnel.
A tunnel was begun and came
to
a
disastrous halt.
consequences
cannot
now
be
fully measured; yet perhaps the day of the separate
private dwelling on Manhattan Island is to pass, and
perhaps it is not a dream that the “city” will ulti¬
mately, in certain important senses, cover most if not
all of Long Island.
And while the general public think chiefly of
rapid
transit and re-distribution of population, there are some
fertile suggestions which thoughtful persons might
draw on.
One is, the superiority in economy and busi¬
ness effectiveness of private
capital in large work,
as contrasted with public work and
ownership. An¬
other is, the contrast between this colossal transporta¬
tion work, which has gone steadily forward, and sub¬
way work which has for years been halted and tangled
rather than aided by a commission scheme thrust upon
the city. Another is, that although the victories of
war are clamorous and win applause, those of
peace are
greater. One man who is constructive and is a builder
of permanent work is worth more than a host of men
who are destructive and go about sowing
dragons’
teeth of unrest and passion.
It is
was
Those
It will interest the United States to learn that France
is
beginning to discuss the propriety of floating huge
loans for governments not on the friendliest of terms
with that country or, which are allied to unfriendly
nations. Heretofore the question that has weighed
The
■
bridge plan never went most with the financial authorities in Paris has beeu
beyond surveys and negotiations, and both indiffer¬ the attracti veness of these, loans viewed,
strictly as in-
Sept. 101910
vestments.
]
THE CHRONICLE
611
But it is not at all
surprising that diplo¬ to be noted that there has of late been no great com¬
matic considerations should now receive
attention, petition for the generous weekly consignments of new
especially as the relations between the French money bars from South Africa. Egypt is buying a normal,
market and the French Government are closer than in but not an
abnormal, amount; its takings at this time
almost any other wealthy country. The subject has are
necessarily large. India is making only moderate
been brought forward at this time by the proposal of calls.
But both countries are
prospering, and their
Hungary to raise a very large loan; the impending imports of merchandise should be quite heavy this
Turkish loan has likewise lent point to the discussion.
year—during August Great Britain’s total exports
It is urged that these countries have
understandings increased no less than $32,620,500 over a year ago.
with Powers whose policies and ambitions are apt to
Turkey has also been an importer of gold on a con¬
run counter to those of France.
The United States siderable scale; the Ottoman
Empire, under the pres¬
has a special interest in France’s new attitude in view ent
regime, is ambitious to forge ahead rapidly, and
of the movement to gain a foothold on the Paris Bourse is
consequently anxious to build up its supplies of
for American securities.
It is reasonable to deduce
cash; yet the proposed Turkish loan may not meet with
savings of the French people are not to be a ready response in France, since the Young Turks
invested in foreign government loans on the scale of are on
friendty terms with certain of France’s rival
former years, other outlets must be found for the enor¬ nations.
So far South and Central America have not
mous surplus capital accumulated
each year by the levied heavily upon London’s stock of the precious
thirfty French peasantry. Now, it calls for no strain¬ metal; here also trade is prosperous and imports of
ing of the imagination, nor does it involve any undue goods are likely to be a factor in squaring the inter¬
measure of
self-flattery, to reason that French bankers national account. As for the United States, while
are likely to find in American bonds and
high-grade sterling exchange has again declined to 4 86 for de¬
stocks a suitable field for their available capital. As
mand, no renewal of gold imports from London is ex¬
a matter of fact, the commission
appointed in July of pected. Money rates have this week been easier in
last year by the French Minister of Finance to con¬
London, and there is no unusual pressure on the Con¬
sider the whole subject of admitting foreign securities
tinent, while in New York the position is better than
to the Paris Bourse has made a
thorough investigation it was a week ago. All this does not imply that the
of the subject.
An influential sub-committee has pre¬ Bank of England will not in the very near future raise
pared a report for submission to the Minister of Finance. its minimum discount rate to 34£% or oven 4%; but
The recommendations are of sufficient interest to it does
encourage the hope and the belief that the
justify their reproduction here. The summary is that autumn will pass with a minimum of complications
given by “The Economist” of London.
at home and abroad.
At no leading centre is specu¬
(1) Optional maintenance of the existing regime for lation rampant; in fact, dulness has been very pro¬
companies that have accepted and desire to continue nounced locally, in Paris and in Berlin, while the ef¬
for a period of six years instead of three
engagements forts that have been put forth to foster booms in dif¬
entered into by a responsible
representative; (2) sub¬ ferent sections of the London market have
not met
stitution, if necessary, of an agent for the company
with any large measure of success.
which has entered into an engagement to
appoint a
responsible representative on conditions determined
by the Minister of Finance to ensure payment of the
The grain-crop report of the
Department of Agri¬
taxes due to the Treasury; (3) substitution of an
agent culture for Sept. 1, issued on Thursday,
quite fully
for the company or the responsible
representative confirms the favorable advices received from time to
by the creation of administrative bodies to form share
deposit offices issuing certificates representing the time during August from private sources. In no
shares lodged with them; (4)
subsidiarily, the fiscal important crop is there more than a very moderate
assimilation of loans by foreign towns, departments or deterioration indicated since
Aug. 1, and in spring
public establishments to those concerning securities wheat and oats actual
improvement is reported. In
issued for foreign States or governments.
corn the
falling off is much less than usual, the month’s
From what can be learned from international decline in
condition having been but 1.1 points, this
bankers, there is a prospect that a way will be opened contrasting with a drop of 9.8
during the same period
up for the introduction by-and-by of reputable Ameri¬ last year, for which
drought and hot winds in States
can securities on a scale not heretofore
west
of
the
attempted.
Mississippi were largely responsible. The
The advantages of tapping France’s reservoir of sav¬
average of corn now is stated as 78.2, against 79.3 on
ings need not be elaborated upon at this time; suffice Aug. 1,74.6 on Sept.l 1909, 79.4 on
Sept. 1 1908 and
it to remark that, in view of the
growing tendency of aten-year average of 79.5. It is to be noted, moreover,
our
principal bankers to branch out internationally, it that almost every State of large production
reports a
is all the more desirable that the widest markets
possi¬ better condition than at this time last year, the im¬
ble be opened up for our investments.
provement being most pronounced in Texas and Mis¬
souri. The general condition,
however, is, as stated
The international
monetary position remains quite above, lower, with the exception of last year, than at
satisfactory. At London, where the brunt of the the corresponding time in any year since 1901. As
world’s demands for gold
concentrate, the position is compared with 1906, until now the record year, there
still so comfortable that the Bank of
England directors is a decline in condition of 12 points; but this is more
feel justified in retaining a discount rate of
only 3%, than offset by the augmentation in area in the interim
which is under rather than above the
ftVfcfage for the (nearly 18%), so that it seems safe to assume that,
second week of September. The Bank still holds not unless
early frost cuts short the crop in more northerly
far short of $200,000,000 specie, and its ratio of reserve sections of the
belt, this year’s production will set a
to liabilities is slightly above
52%. ' Of course, several new high mark. In fact, the present promise appears
countries are calling upon London for
gold, yet it is to be for a crop a little in excess of 3,000 millions
that if the
.
THE CHRONICLE
619
bushels, against 2,772 millions last year and 2,927
millions in 1906.
condition of spring wheat at time of
by the Department as 63.1, contrasted
with 61 on Aug. 1, 88.6 at harvest time in 1909, 77.6
in 1908 and a ten-year average of 78. In this case
it will be observed that there was some improve¬
ment in condition during August, but the outlook still
is for a very small crop—approximately 215,000,000
bushels—or 75,000,000 bushels less than in 1909 and,
in fact, smaller than in any year since 1900, when the
yield was only 172 million bushels. Combining the
probable spring-wheat product with the preliminary
winter-wheat total of 458,294,000 bushels, as made
public by the Department a month ago, we get an ag¬
gregate yield for this cereal of 673millions of bushels
for 1910, which contrasts with 737 millions in 1909,
only 664 millions in 1908 and the record crop (that of
1901) of 748J^ millions.
For oats, also, the condition is reported a little
higher on the average on Sept. 1 than a month pre¬
viously, and almost as good as a year ago. The con¬
dition when harvested is placed at 83.3, against 81.5
Aug. 1 this year, 83.8 in 1909 and a ten-year average
of 79.5. It will be seen, therefore, that this crop, at
least, is above the average. In the States of largest
production, however, some decided contrasts appear.
In Iowa, for instance, condition this year at 100 com¬
pares with 80 a year ago; Illinois stands at 94 against
90; Indiana 94 against 83; New York 93 against 78,
and Pennsylvania 97 against 76.
Minnesota, on the
other hand, is down to 67 this year, as against 91 in
1909; Wisconsin 70 against 89; South Dakota 66 against
87, and in North Dakota the contrast is between the
extremely low figure of 25 and 88. For the country as
a whole, as already said, the situation is quite satis¬
factory, for, with the harvest completed in earlier
sections, and progressing favorably elsewhere, a crop of
over 1,050 millions of bushels seems to be
practically
assured. This aggregate compares with the previous
record yield of 1,007 million bushels in 1909 and 807
The average
harvest is given
million in 1908.
A number of minor crops were
also reported upon on
Thursday, and in each case some deterioration during
August was shown. The condition of barley when har¬
vested was placed at 69.8 against 80.5 a year ago and
a ten-year average of 83.1; buckwheat condition at
82.3 compares with 81.1 a year ago and 87 for the tenyear interval, and the contrast in tobacco is between
77.7 and 80.2 and 82.3.
Potatoes, an important food
crop, exhibit a drop of 5.3 points during August, and
the Sept. 1 condition at 70.5 compares with 80.9 in
1909 and a ten-year average of 79.8.
The
Newfoundland
fisheries
dispute, which has
engaged attention for so many years, has at last been
settled by the International Court of Arbitration at
The Hague, the decision being wholly in favor of
neither the United States nor Great Britain, although,
on the whole, the latter
country would appear to have
every reason for satisfaction with the award.
It
signifies little to say that, of the seven points adjudi¬
cated, five were decided in accordance with the Ameri¬
can claims;
for, as a matter of fact, the remaining
two contentions were of much greater importance from
the British point of view. Stripped of all legal verbi¬
age, the Court's ruling means (1) that Great Britain
[Voi>. LXXXXI.
enforce local regulations governing fishing opera¬
tions without submitting such regulations to foreign
can
parties and (2) that the three-mile line referred to in
the American-British treaty of 1818 is to be drawn
from an imaginary line connecting the headlands of
bays and not, as the United States argued, from any
point within a bay having a radius of more than three
miles. On the other hand, the Court overrules Great
Britain's claim of the right to prohibit American vessels
from employing foreigners and to impose harbor light
customs and other duties; it decrees that the regulation
of the manner, time and implements of fishing enforced
by Great Britain or Newfoundland must be reasonable
and appropriate, but Great Britain cannot be the sole
judge of their reasonableness, this point, in ca^ of
dispute, to be determined by an impartial tribunal, like
The Hague, or a special commission; Great Britain,
it is further laid down, cannot exclude fishermen from
the bays and harbors on the treaty coasts of New¬
foundland and the Magdalen Islands. The provision
of an impartial tribunal to pass upon the reasonableness
of Great Britain's fishing regulations is construed in
this country as of much moment, while the other
matters decided in
our
favor contribute to invest the
award with compensatory features. The whole ques¬
tion bristles with technicalities and the reading of the
decision
more
occupied two hours; the salient points are
fully discussed in a special article elsewhere in
this issue.
The
Treasury Department, it
appears
to us, has
been well advised in
adopting a conciliatory attitude
towards exporters of textiles in France, Great Britain
and Germany who have complained against the
demand made by our Government that two samples
of all articles intended for shipment to this country
be forwarded to each town in which it was proposed to
Much misunderstanding, apparently, has
make sales.
entered into the whole matter. And it may here be
noted that there are complaints that since Secretary
Knox took charge of the State Department there has
been a lack of proper co-operation with the Treasury
Department. On this occasion the want of proper
cohesion between these two branches of the Adminis¬
tration is largely blamed for the confusion that has
arisen. The order affecting textile samples as inter¬
preted abroad unquestionably is drastic and perhaps
not quite practicable, especially in its application to
novelties, such as Europe exports to America in large
quantities. The complaint made by foreigners that
the forwarding of samples to all parts of this country
at the beginning of the season would enable American
manufacturers to imitate the original designs may
contain a basis of justification, but it does not seem
at all probable that the regulation was promulgated
at the instigation of our manufacturers, but was the
outcome of commendable efforts made by Secretary
MacYeagh to enforce the various laws on the statute
book governing the conduct of his Department. It is
entirely fitting that due steps be taken by Washington
to prevent foreign manufacturers from having their
products shipped into this country without paying the
proper duties, but other methods could surely be
devised to meet requirements in this particular case.
Fortunately the whole question is likely to be promptly
settled along common-sense lines without sacrificing
either the interests of the United States or involving
Sept. 10
THE CHRONICLE
1910.]
embarrassment
613
the
manufacturers reached only 10,650,961 bales, the smallest yield since
concerned.
1903-04, and was below the yield of the previous season
by 3,177,885 bales. The crop, however, was marketed
Aviation as an adjunct of armaments is being upon a more remunerative basis than in
any year for
over
a
of
a
third
seriously considered by the more modern Powers.
century, the aggregate value of the
This week the French War Department ordered the year’s production having been the greatest on
record,
even
purchase of ten military monoplanes and twenty
exceeding materially the return from the 133^million-bale
biplanes, which will give France an aerial flotilla of
yield of 1906-07. While manufacturers
fully sixty by the end of the year. This development suffered, therefore, the producers fared better than
has naturally stirred up other countries, particularly ever before.
Manufacturers of goods, both in the South and in the
Germany, which so far has not been conspicuous in
acquiring the latest forms of flying machines. Great North, suffered severely from the adverse conditions
Britain is understood to be assiduously studying the ruling. Consumption fell off in both sections, but
problem of building machines for practical military not apparently to the extent that reports from time to
use.
From
Washington come reports that the time would have led one to expect.
It is to be re¬
Signal Service of our army is determined to impress membered of course that new mills are starting up
upon Congress at the next session the importance each year, South as well as North, and the inclusion
of granting a liberal appropriation for aeroplane of their consumption tends to modify the loss that
experiments. Meanwhile wonderful feats are being otherwise would be shown. Furthermore, it is a
accomplished in this countiy as well as in Europe by known fact that many establishments ran on full time
civilians. The daring aviator, John B. Moissant, who the whole season. Still, the
cotton-manufacturing
three weeks ago startled Europe by attempting to fly industry as a whole fared less well than in
many a
from Paris to London, concluded his task on Tuesday year, a contention easily demonstrable by the relation
evening after undergoing a series of mishaps during the price for finished goods bore to the raw material.
the final stages of his journey.
Every week new Our export trade in cotton goods, speaking quantita¬
“records” of various kinds—for speed, altitude, &c.— tively, was less than in 1908-09, due to a marked
are being achieved, and the manufacture of
aeroplanes decline in shipments to China, but, owing to higher
is becoming one of our infant industries.
prices, made a moderately better money result.
The unfavorable cotton-manufacturing situation in
Our review of the cotton crop—its marketing, dis¬ the United States finds reflection abroad, and
quite
tribution and manufacture for the season of 1909-10— naturally so in view of the circumstances
responsible
'^0'*
is presented m detail
In fact, our special correspondent believes
on subsequent pages of this for it.
issue-, and comprises statistical and other information that a more unfavorable season has not been witnessed
that will, we believe, repay careful reading and study. within the past quarter of a
century. He remarks
As we have before remarked, these annual reviews that, with the
average price of cotton higher almost
which have been compiled and issued by us for a than within living memoiy, with a continued lack of
period of almost, half a century are devoted par¬ demand, due to bad trade and the long-drawn-out
ticularly to the production and manufacture of the effects of over-production and over-building of mills,
staple in the United States, but at the same time no a remunerative margin for products was at no time
other country in which cotton is grown or turned into obtainable, and the whole
industry was forced upon
goods, and from which reliable information can be short working and a restricted output throughout the
secured, is neglected. New features added from time season. The truth of what be says about over¬
to time, moreover, make them as comprehensive a building will not be doubted when it is
pointed out that
history of the world’s cotton crops as can be given within four years the number of spindles in Europe
in condensed form.
has been increased 10 millions, against a gain in the
The leading fact our investigations for the
year just same period of only 4 millions in the United States
closed brings out forcibly is the complete change and less than 1}/% millions in India,
Japan, China, &c.
from 190S-09 in the cotton-manufacturing
The
total
of
situation
spindles in the world at the close of
in the United States and abroad as well. During 1909-10 was
approximately 134,536,430, against 132,1908-09 the industry had fully recovered from the 615,404 a year earlier and
119,114,207 in 1906.
depression that followed the financial disturbance
unnecessaiy
•
•
°
to
•
#
ft
of the fall of 1907 and at the end of the season the
outlook for the future was considered to be quite
The commercial failures statement for the United
States for August 1910, while more favorable than that
promising. In fact 1909-10 opened with mills quite for July, in that both number of disasters and amount
fully supplied with orders. But it was not long of liabilities were smaller, is nevertheless not as satis¬
before the abnormally high and quite
steadily advanc¬ factory as the exhibit for the corresponding month of
the
raw
ing prices for
material forced curtailment of 1909. There is, of course, a decided improvement as
production which, of moderate proportions at first, compared with August of 1908. The fact that in¬
gradually spread until it involved a considerable part solvencies still keep rather above what might be
of the country’s spindles and looms.
It thus follows termed a normal level does not, however, go to prove
that the season as a whole was a distinctly unfavorable that there is
any especially weak spot in the current
in fact than
1907-08; and it closed with mercantile and industrial situation. It is true that
the prospects for the future not at all
clearly defined, the cotton-manufacturing industiy has been adversely
much depending upon the course of prices for cotton. affected for some months
past by the abnormally high
The commercial crop of the United States, as dis¬ cost of the raw material, necessitating curtailment of
tinguished from the actual growth—which would production; but failures have not been precipitated
require an actual census to accurately determine— thereby. Aside from that incident and the reaction
one—more so
THE CHRONICLE
614
[VOL.
T.XXXX1
industry, the business situation suffering from the disease. How serious the position in
appears to be generally good, the only noticeable Russia is may be gathered from the fact that the
dillness seeming to be in stock speculation, and explana¬ deaths this year have numbered 65,000 and the
tion for that can be found in the attitude of the total cases 140,000; even in 1893 the death-roll was
National Government towards corporations.
only 41,000, while last year—cholera is almost an
According to Messrs. R. G. Dun & Go’s, figures, the annual visitant of Russia—the mortality reached only
number of failures in x4ugust was 919, with liabilities 28,000.
The scourge is not confined to any city or
of $12,442,063, against 917, with indebtedness of district—St. Petersburg, Odessa, Kiev, alike are
$11,120,576 in the like period last year and 1,199, suffering; indeed, European Russia is not worse off
with debts of $23,787,378 in 1908.
Disasters in than the Caucasus and other Asiatic sections. Unfor¬
manufacturing lines made up $7,751,674 of the 1910 tunately, the authorities, though bestirring themselves
tbtal, against $5,510,002 in 1909 and $15,152,800 in commendably, have not the situation under control, a
1908, but the liabilities of brokers, transporters, &c., task of no light moment, owing to the perverse ignor¬
amounted to only $626,133, compared with $1,055,579 ance and superstition of the peasantry, combined with a
a year ago and $2,761,901 two
years back.
Traders, lack of proper water supplies and sanitary arrangements.
in the iron and steel
involved to the extent of only $2,064,256 this year, against $4,554,995 in 1909 and
$5,867,597 in 1908. The result for the eight months
since January 1 is likewise less favorable than for the
same period a year ago.
The number of insolvencies in
all lines for that period in 1910 reached 8,454, with
liabilities of $138,472,162, against 8,853, with obliga¬
tions of $109,219,842, in the same period last year, and
11,140, for $162,379,337, in 1908, Manufacturing
mortality reached $59,793,849, against $47,367,534 in
1909 and $74,430,202 in 1908, trading disasters in¬
volved $49,576,206, against $45,637,060 and $61,038,332, and debts of brokers, &c., were $29,102,067,
contrasted with $16,185,328 and $26,910,803.
moreover,
were
Outside of Russia the deaths have been compara¬
tively few. In Bari (Italy), the first district to
catch infection, the cases range from twenty to thirty
daily, with the deaths about half as many. The
Italian Government is combating the disease with
considerable success. At Spandau only a few cases
have broken out, while Vienna has also been but lightly
affected.
Berlin suffered from
“cholera
scare/’ but
the suspected cases were officially declared not to be
the dread Asiatic malady.
The whole European
Continent, however, is alarmed—a fact that is not
wholly regrettable, since vigilance means a lessening
of the danger that admittedly exists.
All passengers
arriving from European ports are now being carefully
inspected by the New York authorities.
a
Peace
reigns in Nicaragua. Gen. Juan J. Estrada
was
last week inaugurated Provisional President,
the ceremony being held in the Hall of Congress.
The troops have been paid off.
The people have
accepted the new regime with every manifestation of
approval. Political prisoners have been released by
hundreds and a few prominent malcontents, friends
of the vanquished Zelaya, have been arrested. Gen.
Estrada has agreed to hold an election within six
months, and Managua has expressed its satisfaction
over his handling of affairs
by presenting him with
a gold laurel wreath.
His selection of Cabinet Minis¬
ters has apparently met with general support.
The
list is as follows: Secretary of State, Thomas Martinez,
son of ex-President Martinez;
Minister of War, Gen.
Luis Mena; Minister of Finance, Martin Bernard, son
of a former Minister of Finance; Minister of Public
Works, Fernando Solarzano, and Minister of the
Interior, Adolfo Diaz. All payments by the Govern¬
ment have been suspended until the troops are
paid,
and a commission will investigate the debts contracted
by former regimes. A circular has been issued by
Gen. Estrada stating that the liberty of the press will
be respected, and inviting foreign, especially Ameri¬
can, capital to develop the country.
The way has
thus been cleared for the establishment of what it is
hoped will prove a stable and equitable Government,
worthy the recognition of the United States and other
nations.
The
epidemic of cholera that has been raging in
Russia, claiming upwards of 20,000 victims weekly,
has spread not only to Italy, but to Vienna,
Spandau
(Prussia) and to new territory in the countries already
affected, while every European Government, as well at
our own immigration
authorities, are exercising the
strictest measures to prevent the entry of person¬
Discounts have moved
unevenly abroad. Events
proved that the contention of New York bankers
concerning the undue marking up of rates by London
bill brokers was justified; this week there has been
a material decline in the open market charge, while
the Bank of England has again refused to raise its
3% minimum. Call money has loaned in London at
as low as 1% arid the Bank of England’s “other securi¬
ties” (loans) show a decrease of $3,285,000.
Spot
bills are now negotiable at 2 15-16%, while bills to
arrive have been accepted in certain cases at an even
lower figure, although the common asking rate is
3M%. This wide range reflects that a divergence of
opinion exists as to the course the Bank authorities
will follow. At Paris the money market has become a
shade firmer, the discount rate having been raised to
2pg%, against 2% in recent weeks. The Bank of
France on Thursday again reported a loss of gold
($1,755,000), but, following last week’s expansion of
liabilities incidental to the monthly settlements, there
were reductions of nearly $10,000,000 in note circula¬
tion, $44,000,000 in bills discounted and fully $20,000,000 in advances to the Treasury. The Berlin
money market is feeling the effect of the trade activity
that usually develops at this season.
Discounts there
have been marked up to 3%% for spot bills and 4%
for bills to arrive.
The Reichsbank yesterday reported
a loss of $2,500,000 gold, but its loans, discounts and
notes were reduced by $22,000,000.
Amsterdam has
returned to a 4J^% basis, against 4Y%% last week,
although the Bank rate remains at 4%. Brussels
again quotes 2% to 2%%. Official rates have re¬
mained unchanged at all European centres.
have
The Bank of
England
half of the £750,000 new
reported to have secured
gold offered on Monday, India
was
Sept. 10
1910.]
and the Continent
THE CHRONICLE
being credited with the purchase
of the
balance; but later it was stated that the bulk
of the Bank’s purchase went to Turkey, which has been
a persistent
importer of gold during recent weeks.
Egypt is also taking and its engagements will probably
continue for some time.
Since Thursday’s statement
was compiled £100,000 has been sent to Constanti¬
nople while yesterday £100,000 was forwarded to
Egypt. According to our special cable from London,
the gold withdrawals, although bringing down the"
stock of bullion on hand, were not severe
enough to
offset the restriction in liabilities.
The proportion of
reserve to liabilities advanced from
51.52% last week
to 52.06% this week, or about the
average for this
season.
The Bank lost £490,447 bullion during the
week and held £39,441,032 at the close of the week.
The total reserve, however, was reduced
only £68,014,
while loans fell £657,040, public deposits £324,028 and
other deposits £399,063.
Next week’s action on the
part of the Governors will be influenced by the gold
movements between now and then and also
by the
fluctuations in the international exchanges.
Our
correspondent further advises us that the loss was
made up wholly of exports, which were
mainly to
Egypt. There were considerable purchases in the
open market but a very small movement from the in¬
terior.
The details of the movement into and out of
the Bank were as follows:
Imports,
£355,000, wholly
bought in the open market; exports, £868,000 (of
which £657,000 to Egypt, £200,000 to
Constantinople
and £11,000 to various
destinations), and receipts
of £23,000 net from the interior of Great Britain.
The local money market has this week been
tive of unexpected but welcome
produc¬
developments. In
the first place, the loss to the Government
through the
Sub-Treasury has been much lighter than it was last
week, and foreign exchange rates have fallen to a level
that permitted of the importation of
$500,000 gold coin
from Mexico.
But more interesting has been the
receipt from certain interior points of a moderate sum
of money for use in the local collateral loan market.
It had been thought that the out-of-town banks
would increase their demands as
September advanced
and that stiffer rates would be the
logical result,
whereas the inflow referred to was
sufficiently large to
bring a slight recession in quotations in the second
half of the week.
than important;
The incident is
more
encouraging
it suggests that the over-expansion
so much criticised
throughout the West was eithcr
greatly exaggerated or that the remedial measures
taken have been
extraordinarily effective. Trust¬
worthy data on this point will be obtained from the
combined reports forwarded to
Washington in response
to the Comptroller of the
Currency’s call for a statement
615
not all been in
one
direction, and Stock Exchange de¬
mands for accommodation have been
extremely
It is highly improbable, therefore, that
light.
to-day’s returns
unfavorable as those of last Saturday.
The most interesting change in quotations has been
in loans running for six months.
These are now
available at 34 of 1% below the
charge for four or
five months’ facilities; in other words, a minimum of
434% has been quoted for six months, against 4%@
5% for the shorter dates. The demand for local pur¬
poses continues unusually light, so that the offerings,
though not extensive, are quite adequate to meet
requirements. The detailed range of quotations is
now
3J4@3%% for 60 days, 434% for 90 days,
4% @5% for 4 and 5 months and 434 @4% % for 6
months.
Call money has not been pressed on the
market by the larger institutions under
2%. A good
many loans have been made at that figure; indeed, on
Thursday 2% was the ruling charge, although for the
week the average rate has been 1%%, with
2% the
maximum and 1%% the minimum.
Yesterday the
range was 1%% to 2%, the final loan for the week
being made at 1%%. The commercial paper market
is best described as more or less nominal.
Quite a
few of the best drawers continue to hold
aloof, inas¬
much as they refuse to pay 6% to have their bills
discounted, and it is not always possible to secure
money at a lower rate.
Some business is still done
at 5%%, but transactions on this basis are
usually
the result of a specific inquiry rather than of an
offering. The accumulation of bills is not abnormal,
but this is due less to the absorption than to the
withholding of bills. Quotations are: 534@6% for
prime four to six months’ single name bills; 634@634%
for less desirable paper and 5%@5%% f°r 60 to 90
days’ endorsed bills receivable.
will be
nearly
as
Foreign exchange has moved quietly towards a lower
during the present wTeek. Several potent influ¬
ences have been in
operation to bring about this
downward movement.
For example, the London
money market has regained its equilibrium; discounts
level
there have
sagged below 3%, and the withdrawals ofL
gold, though considerable, have been partly offset byreceipts and by curtailment in liabilities. The heavy loss;
of cash recorded by our
Clearing-House banks last
Saturday stimulated lenders to mark up money rates
for the shorter maturities.
An inflow of cotton and
grain bills is
now under way, and bankers are
taking
this into consideration in
conducting their operations
for near-by delivery.
A few finance bills are on
offer,.234% 5
charged for time
but not many; while the difference between the
discount rate in Paris and the 4%%
money here is very wide,
the probability, of a loss in
the possibility, not to say
exchange has to be reckoned
upon—francs are quoted about 5 18% less 1-16 for
checks. The inquiry for all classes of
foreign exchange’
of condition from all the national banks of the
country is light. Trading is confined for the most
part to
on
Sept. 1. The prospects are that the banking brokers, whose ranks are
now quite extended.
Flue*
position of the United States, taken as a whole, tuations have been
occasionally
sudden
but
not
ex¬
will be found fairly
satisfactory! The New York insti¬ tremely wide. On
Thursday a few transactions were,,
tutions, it is true, last week suffered an unusually made in
demand at 4 8595, the lowest
quotation named
heavy shrinkage (fully $17,000,000) in reserves, but since the market
recovered following the recent
this was due mainly to circumstances
import¬
that have not ation of
gold. It is thought likely that a decline to
been in operation during
the current week or are likely below 4
85% would. Induce the Bank of England to
to again arise.
The extensive' payments made on raise its
minimum rate next week,but whether.such a
Sept. 1 should be finding their way back again to
decline will occur remains to be proved; certain
localj
banking channels, while gold exports to Canada have
experts regard so low a rate as highly improbable,, ‘
ceased, the transfer of currency to New Orleans while
others contend that the influx of
commercial,
has fallen off materially, movements with the
West have bills and firm
money will bend exchange back to the
;
I
f
y.
;>(J;
:=:■!
t,;
J.-ms ..V;-
gold-import basis. That the demand for
money has relaxed at least temporarily in London is
shown by the repayment of loans by the open market
former
Bank.
to the
[VOL.
THE CHRONICLE
616
received from Mexico.
Shipments to Canada ceased at the end of August.
Transfers of currency to New Orleans have now passed
the $2,000,000 mark named by the Treasury under its
new regulation concerning the lowering of charges,
and this may have a somewhat restrictive influence
This week $500,000
gold
was
THE FISHERIES
LXXXXI.
AWARD.
by the Hague Tribunal, last Wednes¬
day, of the highly important dispute between Great
Britain and the United States over the North Atlantic
fisheries, is likely to stand out in many respects as a
landmark in the history of the Court . It is so, not less
The decision
powerful nations were involved
than from the further fact that the contentions of the
two had been in existence for a century and were in
upon the movement.
many respects seemingly irreconcilable.
These dis¬
Compared with Friday of last week, sterling on putes originated with the earliest days of fishing on
Saturday was weaker, with demand down to 4 8630 @ the Banks of Newfoundland, and they have long con¬
4 8635, cable transfers to 4 8660@4 8670 and sixty
verged on the varying interpretations of the Anglodays to 4 8340@4 8345. On Tuesday demand de¬ American Treaty of Ghent in 1818.
clined to 4 8620@4 8630 and cable transfers to 4 8650
That treaty was in most respects unusually clear
@4 8660; sixty days was unchanged. Demand fell and specific; but, as is always the case with such in¬
to 4 8605@4 8610 on Wednesday, cable transfers
ternational agreements, especially after the lapse of
declined to 4 8640 @4 8650 and sixty days to 4 8335
two or three generations, circumstances which have
@4 8345. On Thursday demand dipped to 4 8595 since arisen have created new difficulties in the way of
but at the close was quoted at 4 86@4 8610; cable
In a general way, it may be
transfers were done at 4 8635 @4 8645 and sixty days disputed interpretation.
said that the important points on which international
at 4 8320(5)4 8330. On Friday rates moved very little.
difference of opinion has arisen in the present case af¬
The following shows the daily posted rates for fected the geographical scope of the treaty, the inter¬
sterling exchange by some of the leading drawers.
pretation of the so-called “three-mile limit” for the
approach of the United States fishermen to the shore,
Thurs., Fri.,
Tues.,
Mon.,
Fri.,
Sept. 2. Sept. 5. Sept. 6.
JUI Sept. 8. Sept.84 9. and the power of colonial legislatures to impose laws
84
84 34
84 H
84
/60 days
Brown Bros.
87
which should be additional and supplementary to the
87
87
87
Co
..\Sight_. 4 87
84
84
84
84
160 days 4 84
Kidder, Peabody
87
87
87
87
Sight.. 4 87
arrangements concluded in the Imperial treaty.
84 34
84 34
34
84 H
84H
160 days
Bank of British
87
87
87
87
87
Seven disputed questions had been submitted to the
\ Sight..
North America..
84 34
84 34
34
84 y2
..160 days 4 84 H
Bank of
from the fact that two
|
1
4
&
_
.
-
-
-
_
84
4
4
Heidelbach, Ickelheimer & Co
Lazard
Freres
..
Merchants’ Bank
of Canada
4 87M
160 days 4 84M
\ Sight.. 4 87
160 days 4 84
1 Sight.. 4 87
160 days 4 84
_.\Slght._ 4 87
160 days 4 85
..I Sight.. 4 87
The market closed
on
87
84 34
87
84
87
84 34
87
84 34
87
84
87
84 34
87
84
87
84
84
87
84 34
87
84
87
84
8634
84 34
8634
84 34
8634
84 34
8634
8434
87
87
8 7
87
87
_\ Sight..
Montreal
Canadian Bank
of Commerce
8434
Friday at 4 8330 @4 8340 for
days, 4 86@4 8605 for demand and 4 8635@
Commercial on banks was quoted
at 4 82% @4 83 and documents for payment 4 83@
4 83%.
Cotton for payment ranged from 4 82%@
4 83, grain for payment from 4 83 % @4 83%.
60
4 8645 for cables.
following gives the week’s movement of money
interior by the New York banks.
The
to and from the
1910.
Week ending Sept. 9
Currency
Gold
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
:
Total gold
and legal tenders..
Net Interior
Movement.
56,388,000
1,107,000
$5,815,000 Gain
897,000 Gain
$573,000
210,000
§7,495,000
$6,712,000 Gain
$783,000
five were decided in favor
of the United States and two in favor of England. The
Court.
Out of these
seven,
United States establishes its contention that
its fisher¬
employ foreign hands on their
fishing vessels; that they need not pay harbor dues un¬
authorized by the treaty of 1818; that they shall not
be excluded from bays and harbors in the zone not
expressly stipulated in that treaty, and that any regu¬
lations regarding the time, methods or implements
to be observed by our fishermen within the treaty are a
must be reasonable. But by rather general agreement,
it is conceded that the two other questions, which
the Court has decided in England’s favor, are of the
men on
the Banks may
greater importance. One of these questions had to
do with the British contention that the three-mile limit,
in.the case of the larger bays, should be measured,
not from the actual shores of the bay itself, but from
imaginary line connecting the headlands at its
With the Sub-Treasury operations and gold im¬ entrance. The other question in which the British
contention was upheld had to do with the right of the
ports the result is as follows.
Colonial Government to impose on our fishermen
Net Change in
Out of
Into
Bank Holdings.
Banks.
Banks.
Week ending Sept. 9 1910.
ordinances or regulations outside the treaty proviso,
$6,712,000 Gain
$783,000
$7,495,000
Banks’ interior movement
above.
and the result of municipal enactment, which should
25,400,000 Loss
1,100,000
Sub-Treas. oper. and gold imports.
24,300,000
._
an
as
_
provide for the regulation of such fishing.
These two disputes so far superseded the others in
following table indicates the amount of bullion
importance that it has been the disposition to conclude
principal European banks.
that the Hague Court has ruled against the United
Total gold and legal
The
in the
$31,795,000
tenders
Sept.
$32,112,0001 Loss
$317,000
States.
Sept. 2 1909.
1 1910.
Banks of
England..
France
Germany..
Russia
Aus.-Hun.
...
Spain....
Italy
....
Netherl'ds
Nat.Belg..
Sweden
Swltzerl'd.
._
Norway..
Total week
Prev. week
Gold.
Silver.
£
£
39,441,032
135,270,840
37,624,550
141,239,000
55,403,000
16,324,000
38,700,000
9,648,800
5,464,000
4,449,000
6,204.000
1,974,000
33,837,560
14,175.600
8,361,000
12,671,000
31,225,000
3,455,000
1,844,400
2,732,000
Total.
Gold.
Silver.
£
£
£
39,441,032 40,332,062
169,108,400 147,323,160
51,800,150 39,817,900
149,600,000 127,578,000
68,074,000 56,987,000
47,549,000 16,019,000
42,155,000 38,386,000
11,493,200 10,535,000
4,262,667
8,196,000
4,382,000
4,449,000
6,204,000
4,883,000
1,974,000
1,752,000
36,083,880
12,350,900
8,970,000
12,547,000
31,788,000
4,400,000
3,179,100
2,131,333
Total.
£
40,332,062
183,407,040
52,168,800
136,548,000
69,534,000
47,807,000
42,786,000
13,714,100
6,394,000
4,382,000
4,883,000
1,752,000
493,742,222'l08,301,560 600,043,782 492,257,789 111,450,213 603,708,002
493,154,002j 108,526,827 601,680,829 492,694.313 112,058,800 604,753,113
The authority of the Court on both these
points is, however, very great.
As regards the three-
rule, it must be remembered that that is not
merely a question of detailed treaty interpretation,
but of international law and precedent, and the unani¬
mous decision of the Hague Tribunal in the matter
mile limit
(including the American arbitrator) should be suffi¬
cient to settle the lawful aspects of the question. As
regards the more troublesome problem of Canadian
local laws, there is this to be observed, hat the situu-^
Sept. 10 1910.
THE CHRONICLE
tion between Great Britain and its colonies is peculiar.
The scope
of authority of
Imperial treaty
617
duty to take such steps as may be necessary
protect the rights of the citizens of the United
come
my
the to
respects similar to States.” And it was intimated that in case such ex¬
the power of a Federal treaty, under our own Consti¬ treme measures were to become
necessary, the Presi¬
dent should be authorized to suspend by proclamation
tution, over the several States.
But the case is not identical, because the colonies the transit of merchandise across the United States in
an
colonial administration is in
over
some
constituent States in any such sense as are
the members of our own American Republic.
Eng¬
are
not
land, for instance, does not assert that complete
trol
over
con¬
harbors of its colonies which is committed
Constitution to the United States Government.
readily perceived that in such a situation,
with the Imperial Government concluding the treaties,
there must be ample ground for possible colonial
jealousy. The recent customs negotiations between
the United States and Canada provided one illustra¬
tion of the difficulties which arise in this regard be¬
tween England and her colonies, and which can often be
averted only through the exercise of unusual tact and
forbearance by both parties.
In a question like the
by
our
It will be
fisheries, which is centuries old and which amounts,
in the case of several colonial communities, to the first
consideration of their industrial
prosperity, the diffi¬
culty is naturally greater. The Hague Tribunal ap¬
pears to have recognized this somewhat loose relation
between the British Imperial Government and the
colonies; but it has also wisely and justly recognized
the treaty restrictions by requiring that the reasona¬
bleness of such colonial regulations shall be passed upon
by arbitration in which neither Great Britain nor its
colonies, nor both together, shall be the final judge,
but which shall be fairly constituted.
Taken altogether, the incident seems to us one of
happy omen. Mr. Stead’s remark this week, that
“the hero of the Tribunal is Judge Gray, the Ameri¬
bond to Canada
and to exclude from the waters of
the United States all Canadian vessels.
When
one
considers
the
manifold
circumstances
which, along with an excited public feeling, might con¬
ceivably have raised very much such an issue in the
present day—the attitude of the Newfoundland Min¬
istry a very few years ago was perilously near to such
irritating possibilities—one may understand how very
much the cause of international peace has to be thank¬
ful for in the establishment of the Hague Tribunal
and in the larger and larger confirmation of its author¬
ity through acquiescence of the Powers in its rulings.
A
DEPUTY-CONGRESS WORKING BY
PROXY.
A forceful illustration is
now
being furnished of the
workings of the new Federal Railroad Act. Sum¬
marily stated, the theoiy of the Hepburn law and of
the amendment of June 18 1910, wdiich is apparently
to be knowm
as
the Elkins-Mann
law,
seems to
regulation of railway charges is really
be that
legislative
wrork, but that it is a function for which Congress has
not the time, or is incompetent on account of the com¬
plexity of the business of rate-making, and that, there¬
fore, it has become necessary to set up a deputyCongress, i. e., the Inter-State Commerce Commission,
in order that the regulation shall be efficient and suffi¬
cient. This theory having been acted upon and the
can arbitrator, who, like Lord Alverstone in a
previous legislative function duly turned over to the deputyaward, has had the courage to decide against his coun¬ Congress, it now7 appears that tha Commission itself
try’s contention when he was convinced that it was un¬ finds that it is overloaded with labor, and that it must
just,” expresses the feeling with which very many peo¬ do its own work by means of deputies of its owrn selec¬
ple will greet the news. But, more than this, it is in tion. And so it happens that while the respective
point to recall to readers who may not be aware of members of that exalted body are scattered over most
the facts in the matter how much material existed of the habitable
globe in the enjoyment of well-earned
in this fisheries dispute for the kind of international vacations,
their “examiners” are bustling to and fro
collision, which, under certain circumstances, results hearing complaints, receiving testimony and doubtless
in war.
formulating the views and decisions that a little later
This identical dispute over colonial harbor regula¬ will receive the sanction of the Commission.
The first
tions did, in fact, on one not very distant occasion in
protest comes from the Illinois Manufacturers’ Asso¬
our history
reach a point where ill-advised action by ciation, which has telegraphed to President Taft as
either England or the United States might have pre¬ follows:
cipitated trouble. The almost forgotten “Fortune
“The investigation being conducted by the Govern¬
Bay incident” of 1870 called forth from President ment as to the justification for an increase in railroad
Grant, under the advice of Secretary Fish, this very freight rates is one of the most important questions
plain language in his^ annual message to Congress: ever taken up by the Inter-State Commerce Commis¬
“The Imperial Government is understood to have dele¬ sion, and involves the welfare of the
people of the
gated the whole or a share of its jurisdiction or control entire county. Instead of the hearing being con¬
of these inshore fishing grounds to the colonial author¬ ducted
by the entire Commission, this most important
ity known as the Dominion of Canada, and this same matter has been delegated to an examiner. We do
independent but irresponsible agent has exercised its not question the integrity or ability of the able jurist
delegated powers in an unfriendly way, vessels hav¬ to whom the work has been assigned, but we do feel
ing been seized without notice or warning, in violation that it would inspire more confidence and be more
of the custom previously
prevailing, and even taken just to the great mass of shippers if the full Commis¬
into the colonial ports, their voyages broken up and sion would conduct the
investigation.” “Chicago
the vessels condemned.”
Commenting further on a Tribune,” Sept, i 1910, p. 10.
new Canadian statute
The President replied to this protest in a telegram,
authorizing seizure and ex¬
amination of suspected American fishing vessels, this
saying: “I have implicit confidence in the work being
same message proceeded to declare that “should the
done by the Inter-State Commerce Commission under
authorities of Canada attempt to enforce it, it will be- the able
leadership of Judge Knapp. The Commission
a
THE CHRONICLE
618
is
heavily overloaded with work. Some of the mem¬
bers are necessarily in Europe.
I am not disposed to
take any action changing the arrangement made by
the Inter-State Commerce Commission.”
No
one
any one
need be
surprised by this protest, nor need
have been surprised when the Commission
concluded that its
burden of
duty, to say
nothing of needed vacations for its members, necessi¬
tated the reference to a deputy, who is doubtless fully
competent.
As long ago as 1908, in its .annual
report to Congress, the Commission declared that
it must often
enormous
depend
upon
subordinates, saying, in
part:
“In
action
from
fact, the information necessary to intelligent
by the Commission can frequently be obtained
verbal interview with the head of the appro¬
a
[VOL.
LXXXXI.
the
right of occupying the farms at these rents had
by the tenant at a large sum under the
One fact, however, which was
clearly shown was that the artificial depreciation of
land arising from agrarian agitation and outrage
entered largely into their estimate. It would be im¬
possible to conceive a greater encouragement to such
agitation.
A hasty visit to the farms was
made, and rents were settled according to their present
condition. In this way, in a country where farming
was already
deplorably backward, slovenly and waste¬
ful, farming received a special encouragement in the
form of the greatest reduction of rents.77—Ibid,
been purchased
Act of 1870.
.
.
.
...
pp. 189-190.
Are not the
have
things which Mr. Lecky declares to
happened in Ireland precisely similar to those
are likely to happen under the scheme of rate
priate division, and in a great many instances no fur¬ that
ther research is necessary.”—Twenty-second Annual regulation which the Inter-State Commerce Commis¬
sion is endeavoring to apply? Have not the rates
Report, p. 9.
And the Commission added, for whose encourage¬ been reduced by its order which had been paid without
ment or comfort is not apparent:
protest for a generation and to which industry had
“In this connection it should be remembered that presumably become adjusted? Is not the worstfor the heads of its tariff and statistical divisions the managed railway in the best position to justify its
Commission has chosen practical railroad men.”— rates because the wasteful administration of the reve¬
nues in which
Ibid, p. 9.
they result leaves a lower sum to be
The
are
methods of the Commission in this
neither unnatural
nor
respect distributed
without
reader who is familiar with Mr.
precedent. The
Lecky7s description
of the work of the Irish land courts will be struck at
with the strong similarity between what he
scribes as having taken place under the British
de¬
Act
First, as
once
of 1881 and what is
investors, and is not the least efficient
man most able to show that he ought to have
lower rates in that he is unable to make a good profit
on those at present in force?
No wonder such legis¬
lation speedily creates litigation in excess of the phys¬
ical powers of any board or deputy-Congress, and
that its members, whether they insist on long or
short vacations, or do without any vacations at
all,are forced to delegate important duties to subordi¬
to
business
happening here.
delegation of functions:
“The decisions were virtually and mainly in the
hands of the sub-commissioners, who were to a large nates.
extent young barristers and county attorneys; many
Bfe it remembered also that the Act of Parliament
of them with scarcely any previous knowledge of land of 1881 neither settled nor even mitigated the “Irish
or of the conditions of agriculture in the province in
question.77 If it did anything, it accentuated the
which they were adjudicating. They were sent to difficulty and helped to create the crisis of 1886 and
their task—or, as one of the ablest of them expressed to embitter a controversy of which no man can yet
himself, ‘let loose upon property7—without any in¬ see the end. Neither the American Act of 1887, nor
structions; and they usually gave their decisions with¬ yet that of 1906 or 1910, promises to settle the Ameri¬
out assigning any* reasons.
It was clearly understood can railway question. In that direction peace is not
that their business was to reduce, and not to regulate, to be found.
A body politic led to seek prosperity
rents.
Their popularity or unpopularity depended in legislation is like a man taught to depend upon
on the amount of their reductions, and
they knew that drugs for vigor—to-day’s dose but calls for a heavier
the wildest expectations were excited.
One of the one to-morrow. There is no promise of recovery
great perplexities of the lawyers who practiced before save in abstinence.
them arose from the extreme difficulty of discovering
the principle or reasoning on which they acted.77—
W. E. H. Lecky, “Democracy and Liberty,77 edition
now
to the
of
1898, Yol. 1,
pp.
RAILROAD GROSS EARNINGS FOR
189-190.
Under these conditions it is
AUGUST.
strange that
the results, were distinctly unfavorable to the regulated
The one incontrovertibly satisfactory feature in the
interest than it is that in ninety per cent of the cases situation at the present time is the fact that railroad
reaching the Supreme Court on decisions of the Inter- gross earnings continue to show gain over the corres¬
State Commerce Commission, the action of the latter
ponding periods of last year. With railroad expenses
body is found to have been without warrant in law. rising in such a marked way, the situation would have
Of the Irish precedent the historian says:
to be looked upon as discouraging if improvement in
“Many rents were reduced which had been paid gross revenues, in partial offset to the growth in
without
for
no
more
thirty or forty years, and in
spite of clear evidence that the chief articles of Irish
agricultural produce had during that period largely
risen and that the opening of new markets and the
improvement of communications had materially added
to the value of the farms.
Many rents were reduced,
although it was shown that within the last few years
a
murmur
not maintained.
A slackening of
activity in several different branches of trade has been
noted in recent weeks, but whatever significance this
may possess, it is evident that trade reaction has not
yet reached a point where the volume of tonnage or
the passenger movement over the railroads shows
contraction as compared with 1909.
expenses,
were
Sept. 10
1910.]
THE CHRONICLE
Of course,
in discussing results for August, we are
dealing only with the roads which make it a practice
to furnish early estimates of their gross revenues (less
than ten days having elapsed since the close of the
month) and these comprise chiefly Western grain¬
carrying lines and roads in the South and Southwest,
while the influence of business depression would be
felt most in the case of the roads running through, or
tributary to, the great manufacturing and mercantile
districts. But though for this reason it is possible
that the final figures for August, when these shall have
been compiled some five weeks hence, may not show
results so fully satisfactory as do the preliminary
and partial totals we give to-day yet past experience
has been that the early totals afford a pretty close
indication of what the final figures are going to dis¬
,
619
In order that undue
significance shall not be given
present year's gain, it is proper to
point out that all the roads had an advantage in
August 1910 from the circumstance that the month
contained one more working day than the same month
in 1909.
This year August had only four Sun¬
days, leaving twenty-seven working days, while
August last year had five Sundays, leaving only twentysix working days. The extra day is equivalent to an
increase in earnings of between 3 and 4%. There
was also an advantage from a
larger movement of the
leading staples. The Western grain movement was
veiy much in excess of that of last year, and even in
to the extent of the
the cotton movement
of
benefit inured in the way
the case of some of the roads,
some
larger traffic in
though chiefly those in Texas. The shipments over¬
close.
land were 27,558 bales, against 15,869 bales, while
Our table embraces 46 companies or systems oper¬ the receipts at the Southern ports were 160,420 bales,
ating 81,879 miles of road, equivalent to over one- against 100,747 bales. From the following table,
third the railroad mileage of the country, though giving the details of the port receipts, it will be ob¬
the figures include some Canadian roads.
On the served that more than the whole of the increase
mileage represented the increase reaches 85,000.101, occurred at Galveston and that, excepting Charleston
or 9.90%.
This is not materially different from the and Norfolk, all the other ports shoAved decreased
showing made by the face of our early summary for deliveries.
July, where the ratio of gain was 9.02%, though when RECEIPTS OF COTTON AT SOUTHERN PORTS IN AUGUST AND FROM
JANUARY 1 TO AUGUST 31 1910. 1909 AND 1908.
certain special circumstances are taken into account
the present showing is not quite as good as that for
August.
Since January 1.
the previous month.
Ports.
As compared with other months
1910.
1909.
1908.
1910.
1909. ‘
!
j 1908.
in the year there is contraction in the extent of the
Galveston.
bales 120,363 48,2331129,810
814,169 1,275,195 1,284,074
242
Arthur, &c
475
107,857
234,632
82,453
improvement; in other words, the ratio of increase Port
New Orleans
11,685 13,706 13,098
609,645
903,727
937^522
a
,,
Mobile
has declined.
We need
hardly say that this year’s increase for
August follows a gain in the same month of 1909,
though this latter was simply a partial recovery of
what had been lost at the time of the intense
depression
in industrial interests in 1908. * In
August last year
our
early compilation, comprising 78,484 miles of line,
recorded 86,102,600 increase, or 11.77%, over the small
totals for the
same
roads the year before.
On the
other
hand, in August 1908, according to our early'
statement, covering 82,513 miles of road, there was a
shrinkage in gross earnings in the large amount of
810,691,980, or 15.20%. Prior to 1908 the record
had been one of uninterrupted improvement
year by
year ever since 1896, as will be seen from the following
summary of monthly totals as drawn from our early
compilations each year.
Mileage.
Gross Earnings.
August.
Year
Year.
1896
1897
189S
1899
1900
1901
1902
1903
1904
Roads
120
118
121
112
105
96
76
76
67
1905...
56
1906
68
1907
67
1908
52
1909
49
1910...
46
...
...
...
...
...
...
...
...
...
...
...
...
...
Given.
Year
Preced.
Miles.
Miles.
%
89,991
93.10S
94,185
95,798
96,376
99,951
90,102
98,126
83,160
81,055
92,788
93,683
82,513
78,484
81,879
89,225
91,625
93,792
94,771
93,157
97,750
88,620
9i,047
81,248
79,192
90,455
92,898
81,261
77,217
78.S74
0.82
1.62
0.42
1.08
3.45
2.25
1.67
2.16
2.35
2.26
2.58
0.84
1.54
1.65
3.81
Jan. 1 to Au g. 31—
1896... 116
88,742
1897
114
92,379
1898
121
94,185
1899
110
95,484
1900
105
96,376
1901
92
96,056
1902
76
90,102
1903
76
98,126
1904
67
83,160
1905...
55
80,798
1906
66
92,507
1907
67
93,683
1908
51
82,091
1909
49
78,484
45
1910...
81,421
...
...
...
...
...
...
...
...
...
...
...
...
In¬
crease
.
Increase (+)
Year
Given.
$
72,505,067
59,445,529
58,859,481
79,344,748
86,377,190
59,649,837
57,953,811
62,005,137
Year
or
Preceding.
Decrease (—).
.
38,801,525
43,190,342
46,632,848
54,751,100
57,143,176
65,155,714
58,887,908
$
$
%
40,010,144 —1,208,619 3.02
38,526.399 + 4,663,943 12.62
44,446,940 + 2,185,908 4.92
48,325,106 + 6,425,994 13.29
53,731,004 +3,412,172 6.35
57,439,471 + 7,716,243 13.43
56,213,712 +2,674,196 4.75
66,411,069 + 6,093,998 9.17
57,494,231 + 1,951.298 3.39
55,955,430 + 2,904,051 5.19
70,099,249 +9,245,499 13.19
79,029,051 +7,348,139 9.30
70,341,817 —10,691,980 15.20
51,851,211 + 6,102,600 11.77
56,40033 + 5,600,104 9.90
88,000 0.83 287,248,002 272,696,995 + 14,551,007 5.33
90,896 1.62 298,238,929 291.932,827 +6,306,102 2.16
93,792 0.42 337,683,518 304,008,624 +33,674,894 11.07
94,455 1.08 378,241,765 348,511,473 +29,730,292 8.53
93,157 3.45 > 417,335,014 371,773,610 +45,561,404 12.25
93,855 2.34 417,198,174 376,726,858 +40,471,316 10.74
88,620 1.67 429,366,197 397,306,062 +32,060,135 8.07
96,047 2.16 536,623.682 475,299,340 +61,324,342 12.90
81,248 2.35 419,174,339 423,955,840 —4,781,501 1.12
78,935 2.26 421,764,129 393,742,645 +28.021,484 7.12
90,174 2.59 575,472,692 498,726,455 +76,746,237 15.39
92,898 0.84 636,734,664 575,891,850 +60,842,814 10.57
80,891 1.48 422,122,512 507,168,353 —85,045,841 16.78
77,217 1.65 409,593,132 367,711,841 +41,881,291 11.40
78,432 3.81 452,534.443 391,216,649 +61,317.794 15.68
Note.—Neither the earnings of the Mexican roads
anthracite coal roads are included In this table.
892
100
15,496
5,651
2,908
23,675
4,631|
267
598
22,601
4,728
1,932
142
502
69
6,869
4,732
4,074
1,052
Pensacola, &c
nor
the mining operations of
the
Savannah
Brunswick
Charleston
Georgetown
Wilmington
7,020
120
85,503
59,315
264,040
39,817
40,882
792
Norfolk
Newport News, &c._
Total
j
■
—
41,948
179,833
7,269
148,004!
95,580
433,593
107,138
62,456
1,356
120,330
81,366
406,760
70,796
38,703
114,747!
132,704
196,816
4,438
210,6601
15,444
662
160,420 100,747 184,504 2,251,070 3,602,532 3,356,624
1
Wheat arrivals at the Western
primary markets
greatly enlarged scale, notwithstanding the
reduced yield in the spring-wheat area of the North¬
west.
It is stated that the banks
compelled early
marketing of the crop by refusing to make advances
on the same or to
help those inclined to hold it for
higher prices. It must also be remembered that as
far as the spring-wheat crop is concerned, the hot
and dry weather experienced in
July, and which so
materially curtailed the product, hastened likewise
the early maturity of the grain. All the
spring-wheat
points record decidedly enlarged deliveries; the few
primary wheat markets showing a falling off are those
receiving only winter wheat, such as St. Louis. For
the four weeks ending August 27 the wheat
receipts
at all the W estern primary
points combined aggregated
36,469,443 bushels, as against only 23,988,808 bushels
in the corresponding four weeks of 1909.
The oats
movement was also on a
greatly increased basis and
for the four weeks this
year the deliveries reached no
less than 34,998,277 bushels, against
20,911,928
were on a
bushels in the
same
cereals the additions
weeks of last year.
In the other
comparatively light. Still,
showing what important benefits were derived from
the larger grain movement, we
may note that when
wheat, corn, oats, barley and rye are combined, the
receipts for the four weeks of 1910 are found to aggre¬
gate 86,216,033 bushels, as against only 58,638,435
bushels in the corresponding period of 1909. The
following gives the details of the Western grain move¬
were
as
ment in
our
usual form.
910109911
WESTERN FLOUR AND GRAIN
Four weeks
ending
Aug. 27.
Chicago—
EARNINGS OF NORTHWESTERN AND
RECEIPTS.
Flour.
Wheat.
Com.
Oats.
(bbls.)
(bush.)
(bush.
(bush.)
Rye.
Barley.
(bush.)
11,197,000
6,447,268
6,413, ,500
6,025, ,600
22,175,000
12,206,450
744,000
372,000
95,000
103,500
250,485
215,600
1,339,050
770,000
474, ,600
331, ,900
1,250,100
490.500
403,000
387,400
63,420
37,000
232,390
274,810
3,797,762
5,019,462
1,608, ,260
1,983, 890
3,272,980
2,632,420
5,600
10,400
31,672
26,063
1,722,000
1,110,000
243, 950
219, 900
1,510,500
500
16,000
48,500
15,815
22,786
176,671
265,853
196, 662
167, 269
285,712
308,986
7,740
4,310
237,526
123,658
173, 505
229, 775
1,309,416
1,444,741
9,613
3,000
171,800
165,200
348,881
430,475
1,275, 890
880, ,994
2,784,935
58,000
24,000
Milwaukee—
St. Louis—
Toledo—
1909
Detroit—
1910
1909
Cleveland—
1910
1909
Peoria—
1910
1909
Duluth—
1910
1909
_
^
Total of all—
1910
1,397,488
1909
1,699,334
20,900
13,000
23 ,493
232 ,299
78,964
82,558
552,026
151,242
11,232
65,057
7,508,250
3,459,730
379, ,030
391 ,770
1,732,370
549,750
749,320
832,000
118,440
130,240
7,685,800
6,102,600
1,081 ,200
1,070 ,400
598,300
562.500
Minneapolis1910
1909
Kansas City1910
1909
1,496,223
36,469,443
23,988,808
34,998,277
20,911,928
11,870,090
11,533,797
$
$
i
$
Canadian Pacific. 8,926,000t 7,152,000; 6,385,957 7,010,177
776,972
Chic Gt Western* cl ,046,606;
c992,417
737,340
333,139
Duluth So Shore.
346,0951
308,3761
222,549
Great Northern.. 5,849,35465,557,912 bi ,460,472 5,742,6 8
Iowa Central.._.
276,961
270,860j
265,676! 259,893
Mlnneap & St L.
1910
5,104,041
1909
5,133,510
Milwaukee—
1910
1,936,505
1909
1,819,308
St. Louis—
1910
1,668,380
1909
1,583,400
Toledo—
1910
1909
Detroit—
1910
144,477
1909
94,947
Cleveland—
1910
60,721
1909
37,408
Peoria—
1910
1,995,164
1909
1,244,878
57,445,200
55,934,621
4,937,470
3,383,705
5,168,930
4,443,000
11,402,182
12,037,900
67,605,800 15,745,400
56,351,076 14,624,893
672,500
762,500
7,200,293
499,810
556,900
7,253,750
5,414,100
14,339,415
11,485,965
16,695,912
15,181,650
2,912,000
2,336,400
2,750,600
2,151,100
2,752,400
1,911,200
696,792
893,637
1.543.310
1,505,957
1,422,796
1,323,634
5,678,600
204,862
153,607
920,965
1,711,000
89,150
104,900
4,655
1,000
437,926
350,857
3.590.311
3,161,095
3,548,378
4,682,565
64,951
252,238
7,242
847,234
928,780
10,337,376
9,059,877
9,758,897
5,541,196
1,387,312
1,685,000
274,500
197,000
13,705,579
687,321
2,104,346
6,182,025
1,050,533
4,979,669
1,571,763
66,263,060
5,702,721
3,651,516
9,247,018 10,570,258 1,039,140
6,138,220 8,099,194
820,455
35,172,780
1909
Kansas
Cftjf—
1910.....
25,020,350
1909
19,476,800
Total of off—
11,391,708 135,364,293 115,654,731 123,745,623 40,50+351 3,118,343
12.017.796 97,105,050 103,335,709 98.069,719 33,861,647 2.700,578
1910
1909
previous months the Canadian Pacific leads all
indeed furnishes
a considerable portion of the total gain.
The improve¬
ment for that company for the month is $1,774,000.
But the Canadian Pacific, in this respect, belongs in
a class all by itself.
The next largest increase is that
of the Louisville & Nashville, which has gained
$500,243. Next after that comes the Great Northern
with $291,442 increase and from that the gains taper
As in
others for amount of increase and
Chesapeake & Ohio
Southern Railway
__
229,136 Alabama Great Southern.
Minn St Paul & S S M
Missouri Pacific
Cine New Orl & Tex Pac_.
Denver & Rio Grande
Chicago & Alton
St Louis SouthwestMobile Sc Ohio
Seaboard Air Line
213,712 Colorado & Southern.
181,000 Chicago Ind & Louisville.
172,162 Chicago Great West
158,500 Internatl Great Northern.
123,442 Missouri Kansas & Texas.
106,539 Duluth South Sh Sc Atl
106,499 Atlanta Blrm & Atlantic.
105,818
Representing 26 roads in
our
compilation
*
a
ever
reached.
numerous
come
quite
figures
are
the
On the other hand there
960,200!
2,920,352,
833,2761
4,561,685
9.8,555
1,485,6381
4,869,872
387,801
2,251,702
included in monthly returns.
GROUP.
1907.
S
c755,437i
18,4.0,4^8 16,^36,04614,769,394
361,640
1906.
1905.
$
343,250
294,001
$
191,346
84,529
71,150
91,759
827,820
1,967,281
665,407
3,402,605
699,302
1,103,085
4,268,535
456,437
17,865,032 16,144,459 14,113.257
S
614,210
956,281
1,090,261
519,889
1,940,862 1,722,633
4,275,722 3,809,031
718,876
83,804
811,721
1,110,350
13,522,'9112,796,794 11,602,397 12,977,110 11,#94,898 10,228,692
Sc Brazos Vallsy RR.
Alabama Great Southern.
Atlanta Blrm Sc Atlantic.
Buffalo Roch Sc Pittsb
Canadian Northern.
Canadian Pacific
Central of Georgia
Southern
Chesapeake Sc Ohio
"1
Ches & Ohio Ry of Indj
Chicago Sc Alton
—
Chicago Great Western..
Chicago Ind & Louisville.
Cin New Orl & Tex Pac._
Colorado Sc Southern
Chattanooga
—
Denver & Rio Grande
Denver Northw & Pac._
Detroit Sc Macklnao
Detroit Toledo Sc Ironton
Ann Arbor
Duluth So Sh & Atlantic.
Georgia Southern & Fla.
Grand Trunk of Canada.!
Grand Trunk Western )
Det Gr Haven & Milwl
Canada Atlantic
J
Great Northern
Internat Sc Great North.
Iowa Central
Louisville So Nashville
Mineral Ra,nge
-
-
Minneapolis Sc St Louis. .
Mlnneap St P & SSM—
Missouri Kansas Sc Texas
Missouri Pacific
Mobile So Ohio
N evada-Cal-Oregon
New Orleans Mobile &
Rio Grande Southern
Chi
St Louis Southwestern
MILEAGE IN AUGUST.
Mileage.
fine. (+) er
Texas & Pacific—
Toledo Peoria Sc Western
West.
tdedo St Louis
Lake&Erie.
abash
heeling &
...
Total (46 roads).
Net increase
pan
1910.
960,200
y 5,664
2,920,352
$
$
309
+ 80,148
305,425
661
+ 30,109
195,586
568
+ 98,132
841,256
+ 285,900 3,297
807,100
10,276
7,152,000 + 1,774,000
1,916
+ 92,500
867,700
99
+ 1,208
1/4,456
+ 277,757 2,224
2,642,595
1,388,502
P784.191
601,119
833,276
1,445,902
2,180,600
1/99,209
109,450
1,265,060
1/718,995
529,890
661,114
1,371,971
2,022,100
1/91,460
104,929
1/118,168
1/92,606
180,962
346,095
172,944
308,376
1/122,118
1/116,955
+ 123,442
+ 65,196
+ 71,229
+ 172,162
+ 73,931
+ 158,500
+ 7,749
+ 4,521
+ 25,562
+ 8,018
+ 37,719
+ 5,103
3,885,049
3,879,409
5,849,354
680,000
276,961
4,561,685
63,944
5,557,912
619,000
$
385,573
225,695
939,388
1,093,000
8,926,000
405,300
1,998,742
2,221,798
4,757,000
928,355
1/25,779
270,860
4,061,442
74,015
375,730
2,179,360
4,576,000
821,856
1/30,879
al34,G27
54,259
ai08,494
960,694
854,155
122,734
361,231
54,044
1,379,820
4,640,736
1,174,208
107,372
2,723,434
343,025
2,624,168
697,000
615,000
'
1909.
309
642
568
3,094
9,426
1,916
99
1,903
998
998
1,487
1,476
616
336
2,032
2,553
616
356
1,952
2,552
441
301
605
395
214
348
441
301
593
395
+ 5,640
4,528
4,528
+ 291,442
+ 61,000
+ 6,101
+ 500,243
7,129
1,159
0,961
—10,071
+ 29,570
+ 213,712
1,785,030
+’ili!ooS
+106,499
—5,100
+ 26,133
+ 215
+ 100,539
+ 105,818
+ 229.136
+ 101,989
+ 15,362
+ 18,206
+ 99,285
+ 82,0 0
2i4
370
U$9
558
668
4,600
4,401
127
129
1,027
3,570
1,027
3,423
3,353
3,085
7,170
1,114
0,488
1,114
184
403
180
184
403
180
1,476
1,469
2,995
2,097
2,514
7,060
1,885
248
450
2,614
458
442
7,053
1,885
248
450
62,005,137 56,405,033 + 5,600,104 81.879 78,874
(9.90%)
Mexican Roads (not inc luded in to tal) —
647,645
731,689
Interoceanlo of Mexico—
f/448,900
1/499,600
Mexican Railway...
5,120,095 4,507,959
Nat. Rys of Mexico x—
a
Dec. (—).
1909.
1,485,638
4,869,872
1,276,197
Seaboard Air Line
<
S
1,107.345
1,805.605
Includes all affiliated lines except Trinity
Includes the Texas Central in 1910.
•
also
1905.
1904.
1907.
1908.
1909.
1910.
1910.
earnings do not
to the best previous totals.
105,176
406,985
2,505,541
Gross Earnings.
largest
are
4,015,835
115,917
Name of Road.
$5,461,827
very
5,280,578 4.486,251
%
235,671
269,676
212,044
263,041
116,907
128,414i
113,380
130,944
120,007
106.2681
138,309!
110,350
126,735
172,431,
139,101
195,586
049,512
965,871'
812,293!
867,700
2,201,092
2,667,359
2,292,905
2,642,595
700,072
766,221
661,114
666,688
4,061,442 3,649,746 4,426,453 4,009,935
852,142!
921,980
743,332
821,856
1,379.820 1,060,634 1,326,305 1,171,596
4,643,7651
4,640,736 4,031,053 4,923,571
796,802
674.775;
0755,4371 0637,647!
cl30,944;
cl 10,350
225,6',»5
Southern Railway
instances where the 1910
up
c263,04l!
GROSS EARNINGS AND
our
number of instances the 1910
3,497,905
105,251
401,338
2,602,303
304,303
305,425
385,573!
Total
analysis we add the following six
year comparisons of the earnings of leading roads
arranged in groups. It will be observed that in a
complete
4,097,888 3,885,271
556,509
$
$
$
S
Colorado Sc So*.. 1,445,902 1,371,971 1,269,881 1,114,73d
Denver Sc Rio Gr 2,180,600 2,022,100 1,764,400 2,120,262
589,334
580,458
619,000
680,000
Int & Great Nor.
Mo Kans Sc Tex. 02,221,798 2,179,360 2,200,770 2,288,414
4,670,229
Missouri Pacific. 4,757,000 4,576,000 3,907,886
937,405
807,100
854,155
960,694
St Louis & So W.
Texas A Pacific.. 1,276,197 1,174,208 1,071,902 1.256.730
These figures are for three weeks only.
To
806,567
560,011
Includes some large items of income not previously included in monthly returns.
6 Includes Louisv lie Sc Atlantic and the Frankfort & Cincinnati in 1910 and 1909.
c Month not yet reported; taken same as last year.
EARNINGS OF SOUTHWESTERN GROUP.
$101,989
99,286
98,132
92,500
82,000
80,1s 8
73,931
71,229
1/65,196
61,000
42,438
37,719
30,109
$1,774,000
500,243 Wabash
291,442 Buff Roch & Pittsburgh..
285,900 Central of Georgia
277,757 Wheeling & Lake Erie
Canadian Pacific
Louisville & Nashville
Great NorthernCanadian Northern
%
743,622
557,419
8
768,6461
a
Increases.
Texas Sc Pacific
1905.
$
$
$
AUGUST.
Tn rrfin
1906.
1907.
1908.
1909.
1910.
Alabama Gt Sou.
Ala N O & T P—
N 6 & N East..
Ala & Vicksb..
Vicks Shr & Pac
Atl Birm & Atl..
Cent of Georgia..
Ches & Ohio....
Cine N O & T P\
Louiav Sc Nash.6
Mob le Sc Oh o...
Seaboard Air L..
Southern Ry
Yazoo Sc Miss Val
we
PRINCIPAL CHANGES IN GROSS EARNINGS IN
1908.'
1909.
years we have
WESTERN GROUP.
Embraces some large Items of income not previously
Month not yet reported; taken same as last year.
August.
show all changes for the separate
roads for amounts in excess of $30,000, whether
increases or decreases.
We say decreases as well as
increases, but as a matter of fact there are no de¬
creases running as large as $30,000; in truth there are
only two decrease of any kind among the 46 roads
contributing returns.
following
340,783
1.639,324!
EARNINGS OF SOUTHERN
down.
In the
*
13,738,160 13,430,305 12,050,586 13,812,513 12,690,265 11,635,738
a
August.
2,837,500
3,650,000
11,733,050
7,196,360
S
8,170,452 4,796.734
714,364
828.389
285,221
303,711
4,999,099 3,972,540
231,638
256,207
326,084
347,939'
346,009
1,750,598 1,732,981! 1,557,311
$
$
$
616,523
Buff Roch & Pitts
841,256
939,388
487,147
Ch e Ind ALoulsv
529,890
601,119
Gr Trunk of Can]
Gr Trunk West) 3,885,049 3,879,409 3,483,778
Det G H & Mil 1
Canada Atl_._J
Illinois Central.. C5,105,185 a5,105,185 a4,662,619
102,091
Tol Peo & West.
107,372
122,734
321,449
Toledo St L & W
343,025
361,231
Wabash
2,723,454 2,624,168 2,376,979
331,139
104,216
4,619,172
1,806,067
482,420
Minneapolis—*
V
1910.
August.
Total
Duluth—
1910
1905.
Includes Mason City & Ft. Dodge and the Wise. Minn. & Pacific In
a Includes Chicago Division In 1910, 1909 and 1908; lor previous
combined Minn. St. P. & S. S. M. and Wisconsin Central.
b Actual figures of earn ngs are now used for comparison.
c Fourth week not yet reported; taken same as last year.
*
'356,664
423,360
2,521,559
1,780,542
1006.
18,849,058116,442,325 14,052,10116,219,41614,638,778 11,883,892
1910 and 1909.
Total
_
c
20,141,700
16,342,266
375,730;
405,300
1,998,7421 1,785,030
Minn StP&SSM.o
Jan. 1 to Aug. 27—
Chicago—
1907.
1908.
1909.
1910.
NORTH PACIFIC GROUP.
EARNINGS OF MIDDLE AND MIDDLE
259,762
2,456,503
58,810
288,500
1,137,800
August.
(bush.)
660,448
728,128
1910
90 1
[VOL. LXXXXI.
THE CHRONICLE
630
+ 84,044
+ 50,700
+ 612,136
These figures are to Aug. 27 only
In both years.
Thilfio fimiPAfl ArA
international 111 both vears
** m~
"
.
...
ai
a:
1,025
1,018
361
6,166
6,178
Now Includes Mexl-
fnr tfaTAA
WWikA AfilV.
Sept. 10
1010.)
THE CHRONICLE
621
Distribution of the above three crops has b
COTTON MOVEMENT AND CROP OF 1909-10.
Our statement of the cotton crop of the United States for
the year ending Sept. 1 1910 will be found below
It will
be
that the total crop
this year reaches 10,650,961 bales,
6,326,998 bales and the spinners’
takings are 4,547,707 bales, leaving a stock on hand at the
close of the year of 203,507 bales.
The whole movement
for the twelve months is given in the
following pages, with
such suggestions and explanations as the peculiar features
of the year appear to require.
The first table indicates the
stock at each port Sept. 1 1910 and 1909, the
receipts at the
ports for each of the past two years and the export movement
for the past year (1909-10) in detail, and the totals for
seen
while
the
exports
North
South
2,155,774
2,391,933
2,838,205
2,573,524
2,234,395
Total takings for consumption
Exports—
Total, except Canada by rail
4,547,707
5,411,729
4,241,817
6,216,226
8,457,693
124,385
7,479,740
103,338
8,582,078
7,583,078
41
1
To Canada
by rail
Total exports.
6,326,998
1,632
Total distributed
Deduct—
crop.
In the above
Texas
Sept. 1
Sept, l
1910.
1909.
2,802,873 3,974,563
.
751,218
578,104
327,357
39,348
56,768
16,901
100,690
5,015
397,131
98,014
18,615
45,611
427
1,315,328 2,093,232
Georgia. 1,594,731 1,843.520
Alabam
255,665 393,911
Florida.
198,700 217,189
So. Car.
230,104 213,248
No. Car.
3/0,645 461,269
«
rglnia 632,549 604,111
N
York 040,706 019,181
B st;n
E It!
P lift
T ’d,A©
Sj n Ft.
t a.,Ac.
014,363 019,460
084,077 0102.938
02,581
06,848
..
Totals
Tils yr_ 7,442,322
2,435,199
France.
nent.
422,099 1,092,257 2,265,574 27,731 37,296
196,132 419,686 1,193,922 23,436 39,671
89,487
546,836 963,680
8,940 22,655
74,601
41,212 155,161
666
2,619
54,674
41,529 152,971
39
98,959
115,860
293
l’.oid
15,700
182,205 298,595
158
573
1,724
6,739
273
6,796
117,719 223,410 738,260 138,948 69,471
11,737
109,751
1,356
3,210
7,896
31,206
522
57,717
1,702
17,247
62,858
445
875
vl10,772 111,199
60,169
60,169
'700
34,542
34,542
978.308 2,913,491 6,326,998 203,507
....
185,787
P er. yr
8,435*244:2,960,740
182,787
891,488 3,730,844
7,583,078|
a These figures are only the
portion of the receipts at these ports which arrived
by rail overland horn Tennessee, &c. v Shipments by rail to Canada.
The
foregoing shows that the total receipts at the Atlantic
Gulf shipping ports this year have been 7,442,322 bales,
against 9,949,470 bales last year and 8,435,244 bales in
1907-08, and that the exports have been 6,326,998 bales,
against 8,582,078 bales last season and 7,583,078 bales the
previous season, Great Britain getting out of this crop
2,435,199 bales. If now we add the shipments from Ten¬
and elsewhere direct to
consumption,
we
manufacturers, and Southern
have the following as the crop statement
for the three years:
Year ending September 1.
Receipts at ports..
bales.
Shipments from Tennessee, &o., direct
to
mills
Total
Manufactured South, not Included above
1909-10.
1908-09.
1907-08.
7,442,322
9,949,470
8.435.244
816,706
1.305.852
912,190
8.259,028 11.255,322
2,391,933 2.573,524
9,347,434
2,234,395
Total Cotton Crop for the Year..Bales. 10,650,961 13.828.846
11,581.829
The result of these figures is a total
crop of 10,650,961
bales (weighing 5,400,008,818 pounds)
for the year ending
of 13,828,846 bales (weighing
7,115.746,869 pounds) for the year ending August 31 1909.
August 31 1910, against
NORTHERN
AND
in 1909-10 have been
a crop
SOUTHERN
as
SPINNERS’
takings
given below
Total crop of the United States, as before
stated
bales.
10,650,961
Stock on hand commencement of
year (Sept. 1 1909)—
At Northern ports
bales
75,258
At Southern ports
110,529— 185,787
At Northern Interior markets
11,548—
_
197,335
Total supply during the year
ending Sept. 1 1910
Of this supply there has been
exported
to foreign ports during the year
a6,216,226
Less foreign cotton Imported and Ameri¬
can cotton
returned.b
...
.
10,848,296
110,772
1,632
1909-10.
Bales.
Total taken by Northern spinners
5,275,414
.2,343,7261
a
2,391,933)4,735,659
5,411,729
5,799,332
2,498,1011
2,573,524J 5,071,625
539,755
727,707
Takings andconsumptlon Include 80,244 bales American cotton returned
and 157,976 bales foreign ootton (Egyptian, Peruvian, &e.) in
1909-10 and
171,489 bales foreign and returned American cotton in 1908-09.
a
Consumption in the United States and Europe.
history of the cotton-manufac¬
turing industry of the United States, and for that matter
of the world at large, for the season of
1909-10 contrasts
sharply with the one immediately preceding. In the natural
UNITED STATES.—The
course
of events the current twelve months
presents, com¬
pared with its predecessor, a marked reversal. Recovery
from the panic of October 1907 was almost
completed before
the season of 1907-08
ended, and consequently, prior to the
close of the calendar year 1908, which included the
first four
months of the cotton season of
1908-09, the American mills
were quite generally
working full time. And that basis of
operations continued through the remainder of the season,
giving for the South a consumption the heaviest on record,
and for the North only
moderately below and second to the
total for 1906-07.
At the
fore,
opening of the
as a
rule
were
still
season
of 1909-10
mills, there¬
working full time; but it was not
our
long before various influences served to force curtailment
tendency which progressed gradually but steadily until
—a
now
it involves in
one
way or another a considerable portion
country’s spindles and looms. This curtailment in
production began at various points in New England in Octo¬
ber 1909, being based
upon the high cost of cotton in its
relation to the seiling
prices of goods, making more or less
progress during the fall and early winter.
At Fall River
as well as at New
Bedford, however, efforts to bring about
shortened running time, were at that time more or
less
unsuccessful, as mills were supplied with cotton secured
at fair prices.
But in February, with slackened demand for
goods made at the advanced quotation for cotton, curtail¬
ment was begun and has
continued, broadening in every
section.
At the South too high cost of the raw material
was instrumental in
starting a reduction of production, but
not until April did the movement
attain such proportions
as
to materially affect the volume of
consumption. In
of the
April, however, an
large number of
agreement was entered into by quite
mills in North Carolina under which
normal output was to be reduced at
least one-third between
a
May 1 and Sept. 1, other mills joining in
later, and on
June 12 the South Carolina Cotton
Manufacturers’Association
agreed unanimously to close their mills on July 2 and 4 and
a week in
July and August. The result of all this cur¬
tailment is manifest in the
figures of consumption for the
season.
On the other hand, the effect of the
high priees for
cotton has been to stimulate
discussion of the extension of
203,507
6,671— 6,300,589
4,547,707
2,391,933
2,155,774
Not Including Canada by rail,
b Includes 80,244 bales of American
cotton returned and 125,948 bales
foreign, mainly
equaling
157,^75 bales of American weights, c Burnt Includes Egyptian,
not only what has
been thus destroyed at the Northern and
Southern outports, but also all
burnt on Northern railroads and In Northern
factories.
a
These figures show that the total
The
1908-09
Bales.
387,603
727,707
4,547,707
Northern mills* stock end of year..bales.
the
Total takings by spinners In the United
States for year ending
Sept. 1 1910
Taken by Southern spinners (Included in
above total
takings by spinners
during 1909-10 have reached 4,547,707
bales, of which the Nortjiem mills havG taken 2,156,774
bales and the Southern mills
2,391,933 bales.
11,581,829
11,8 24,696
for
238,219—5,978,007
Sent to Canada direct from West
Burnt North and South.c
Stock on hand end of year (Sept. 1 1910)
—
At Northern ports
142,071
At Southern ports
61,436—
At Northern Interior markets.
North and South
13,828,846
-
South
Sept. 1 Sept. 1
1910.
1909.
Toted.
9,949,470 ‘3,645,410 1,065,961 3,970,707 8,582,078
nessee
243,067
..10,650,961
Northern mills’stocks Sept. 1
Takings a
Stocks.
Conti¬
L: st yr
and
165,002
...
Great
Britain.
Louls’na
13,993,848
225,376
actual consumption for the same two years has been
Consumption—North
of
Balts.
2,007,422
given the takings for consumption.
are
Total
Boris
1907-08.
10,876,337
Cotton imported, minus stock Increase
Total
Boles.
110,772
Burnt during year
1908-09 and 1907-08.
Exports for Year ending Sept. 1 1910.
follows:
1908 09.
are
Receipts for Year
Ending
en as
1909-10.
Bales.
Takings for Consumption—
sources
of
supply. The high prices, said Mr. Macara at
International Cotton Congress in
Brussels, Belgium, in
June, accounted for the world-wide depression in the cotton
trade, and should re-double efforts to
encourage cotton¬
growing in all parts of the world.
The high prices for
cotton, referred to above, which were
instrumental in starting and
stimulating curtailment of pro¬
duction, were only in part due to natural causes. Early in
the season conviction was
strong iff many quarters that the
yield of American ootton would show a material decrease as
compared with 1908-09, but with a much larger production
anticipated m India and very large stocks, visible and invisi¬
ble, carried over at the close of August 1909, no immediate
the
[VOL. LXXXXI
THE CHRONICLE
633
€=
supply to meet by the results that manipulation has made possible, it is
claimed by agitators (certainly not by planters themselves)
spinners* requirements without encroaching too sharply
that at current prices the raising of cotton does not offer
upon the surplus.
But the belief in an insufficient supply
sufficient remuneration.
At the recent International Con¬
of the raw material was cultivated by an early and large
demand for consumption, both home and foreign—a situa¬ gress at Brussels, in fact, a speaker from Mississippi stated
that the world must revise its ideas as to the value of cotton,
tion which manipulative and speculative circles had already
used to boost prices above the average of recent years. The giving it as his opinion that the staple must advance to 15c.
Department of Agriculture's estimate of a yield of only per lb. (supposedly for middling uplands at plantation),
10,088,000 bales of 500 lbs. gross each, issued in December, owing to increased cost in growing. Naturally his remarks
were received with pronounced incredulity.
To argue his
moreover, was of no little assistance, and before the close
proposition
be
conditions,
such as a
would
absurd.
There
are
of the calendar year 1909 middling uplands had been forced
short yield of cotton and coincident active demand for goods,
above 16c. per lb. in the New York market.
On the basis
under which cotton would be worth more than 15c.
Just as a
of values ruling for the raw material, manufacturers could
not attempt to meet the views of buyers as to the value of very full yield would cause a very material decline in prices.
goods, and with a reduced demand curtailment was inevi¬ By manipulatory tactics prices can and have been unduly
lifted or depressed temporarily, but in the long run the laws
table.
of supply and demand control.
Of late years the values of
The commercial crop of the United States, as shown above,
almost all commodities, cotton with the rest, have quite
reached the abnormally small total of 10,650,961 bales,
weighing 5,400,008,818 lbs. gross. This compares with a appreciably advanced, but the rise has in the main been the
result of natural causes and not arbitrary dictum.
yield (the record) in the previous year of 13,828,846 bales, or
To the manufacturers of cotton the season has been, it is
7,115,746,869 lbs. gross. Consequently the latest crop,
needless to say, a very unsatisfactory one.
Not only, as
obtained from an area slightly greater, was nevertheless 3^
already
intimated,
has
there
been
an
important
curtailment
millions of bales less than in 1908-09. The crop, further¬
of production, but with prices for goods failing commenmore, is the smallest in any year since 1903-04, and, as indi¬
to meet the advance in cost of the raw material, the
cating the futility of increased planting unless the weather surately
margins
for profit have been very measureably reduced.
favors, actually less than in 1897-98 and 1898-99, when
Friction with labor at times caused more or less uneasiness,
acreage was over 45% below that of 1909-10.
With a com¬ but there has been no concerted movement that culminated
mercial crop of 10,650,961 bales and visible stocks of 1,454,in any widespread difficulty.
At the opening of the season
022 bales, American cotton carried over at the close of
trouble threatened at New Bedford; an amicable adjust¬
August 1909 the available supply (not including mill stocks,
ment was reached, however, and small strikes at Fall
which were quite large the world over at the end of last
River that followed the putting into effect of the new
season) for the year just ended is seen to have been 12,104,983
56-hour law in January were quickly settled.
Under the
bales*. Absorption, however, has been in excess of that total;
that is to say, consumption at home and abroad, including working of the automatic wage scale at Fall River the
manufacturers were entitled to reduce operatives’ compensa¬
the amount burnt or lost at sea, has reached an aggregate
tion by nearly 9% in November, but the right was abrogated.
greater than the available visible supply.
At the same Dissatisfaction
with the wage agreement, however, began to
time, however, the visible supply of American cotton on
a little later on, and on Feb. 16 the five labor organi¬
Of cotton develop
Aug. 31 1910 was approximately 793,514 bales.
zations of textile operatives voted to withdraw from it.
other than American the combined world’s visible stocks
Subsequently tentative forms of a new agreement were
were at the close of August heavier than on the correspond¬
submitted by both sides: that of the operatives proposed
ing date in 1909, but smaller as compared with years to raise the minimum price for weaving a cut of printing
back to 1904.
The East Indian yield largely exceeded the cloths
(47 3^2 yards of 28-inch 64x64s being the standard
production of 1908-09, and in connection with increased length) from 18c., as in the old agreement, to 19.66c.,
receipts from miscellaneous sources served in part to cover reducing at the same time the margin upon -which it should
the shortage in American and Egyptian cotton.
The visible be based from 72^ points to 67H points. Furthermore,
supply of all varieties of cotton at the close of 1909-10 was the maximum rate was to be advanced 2.07c. per cut (to
the smallest of any year since 1904 and, as already inti¬ 26.03c.), the margin being unchanged.
This advance of
mated, mill stocks quite generally were noticeably less than from 8% to 10% the manufacturers were unwilling to concede
at the end of the previous year.
Still, and partly, of course, and submitted a plan which covered a small advance.
Thus matters stood until at the close of the season, with the
as a result of reduced consumption, there was yet a rather
formidable stock in the world at the end of the season.
prospect of no action being taken in the immediate future.
As of interest in this connection, we append a compilation
While, as already pointed out, the commercial crop of
showing the course of wages at Fall River the past thirty1909-10 has been appreciably smaller than that of 1908-09,
three years, omitting years in which no changes were made:
or in fact of several other seasons, it stands as a record in
Wage
W age
Wage
Wage
per cut.
per cut. Year.
per cut. Year.
the financial return therefrom because of the high price
per cut. Year.
Year.
121.78c.
21.78c. 1907
f 19.63c. 1902
1877
19.00c. 1892
\23.96c.
19.80c.
the producer received therefor.
\21.00c. 1903
It is of course palpably im¬ 1878
18.00c.
1908
f23.96c.
1904
17.32c.
18.00c.
1880
21.00c. 1893
f17.32c.
\ 19.66c.
16.00c.
possible to fix with absolute certainty the exact value of any 1884
18.50c. 1894
19.66c.
118.00c. 1909
18.00c. 1905
1885
16.50c. 1895
19.66c,
crop, no matter how extensive or exhaustive investigations
16.00c. 1906
jl8.00c.
1886
..18.15c. 1898
121.78c.
j 18.00c.
19.00c. 1899
be made, but a close approximation to the truth can be 1888
\19.80c.
fears
were
felt
as
to the adequacy of the
0191
_
...
reached and
a census can
do
no more.
In the
case
of cotton
export price as a measure of
value per lb., and as the greater part of our product is
exported, that price would seem to furnish an equitable
basis upon which to figure the aggregate value of the crop.
For the season 1909-10 the average prices of the cotton
exported has been 14.2c. per lb., and on that basis the value
.of the 10,650,961 bales commercial crop is over 760 millions
we
have the official average
of dollars.
1908-09 and
This compares with an export price of 9.4c. in
a value for the 13,828,846 bales yield of 669
millions; 11.4c., 11,581,829 bales and 673 millions in 1907-08,
and 10.7c., 13,550,760 bales and 747millions (the previous
record value) in 1906-07.
But we get a better idea of how
very well the Southern planters have fared of recent years
by going back a little more than a decade. In 1897-98 and
1898-99, for example, the yield was in each instance greater
than in 1909-10, and yet the value of those crops, on the
basis of the average export price, was only 334 millions and
317 millions of dollars respectively—in each case much less
than half the return from the production of the latest season.
In the face of such comparisons, however, and encouraged
JVote.—The recognized standard length of a 28-lnch,
cloth Is 47 Vi yards, woven In an ordinary 32-lnchloom
64x64, cut of print
or less.
scale, it will be noted, while lower than
in 1903 and from May 1906 to May 1908,
inclusive, is above the average compensation of earlier
The current wage
that which ruled
years.
The
printing cloth situation at Fall River
calls for no ex¬
tended comment. That class of cotton goods in common
with all others felt the stress of reduced production entailed
material. At the opening of the season
production was in progress, but manufacturers were un¬
willing to book orders far ahead on account of the uncertain¬
ties with regard to cotton.
But with that qualification, de¬
mand was quite active during September and October, at
first on the basis of 3^c. for 28-inch 64x64 cloth, advancing
on Mr. M. C. D. Borden’s bid to 3%c. on Sept. 21 and to 4c.
on October 16.
November and December were less active
on the high cost of cotton, and January found trade com¬
paratively light, notwithstanding that Mr. Borden was
again in the market, bidding 4F£c. on Jan. 6 and 4^c. the
following day, without securing any important amount.
February was a quiet month and March also, in the main
by high cost of raw
full
THE CHRONICLE
Sept. 10 1910. i
quotation ranging between 4c. and 43^c. most of
An incident of early March was the purchase by
Mr. Borden of about 5,000 pieces 28-inch 64x64s, 7 yards to
the lb., at 4^c.
During April, May and June and early
July the market was inactive, as a rule, with the price ruling
at 4c. nominal.
About the middle of July, however, de¬
mand improved and the reduction of the price of standard
64x64s to 3%c. on July 25 served as a stimulus to trading.
At the last-named quotation, the market ruled to the close
of the reason, with a fair volume of business transacted in
August. The aggregate year’s trade, both as regards quan¬
tity and margin of profit, has, however, been disappointing.
Very little of an encouraging nature is to be found in the
results of our cotton-goods export trade for the season of
1909-10.
The total shipments, it is true, as expressed in
quantity, were not only less than in 1908-09, but much
smaller than in 1905-06 or 1904-05.
Due to the higher
average prices received, however, this year’s aggregate value
is approximately l]/2 millions of dollars greater than last
year, while recording important declines from the other two
years mentioned above.
Comparing the details of 1909-10
with those for 1908-09, the only noteworthy expansion we
find is in the exports to our Pacific Island possessions (the
Philippines), although gains are also shown in the movement
to Canada and Turkey.
On the other hand, an important
loss of trade with China is to be recorded, and shipments to
the West Indies, Central America, Arabia and Australia
633
Concerted action
with the
ber.
the time.
when associated mills in North Carolina
Without further comment,
have been noticeable less.
we
append a compilation showing the value of cotton goods
exports for each of the last four years, and at the foot of the
table give the total for each six months:
EXPORTS
OF
DOMESTIC
Exports to—
Europe.
COTTON
YEARS.
1909-10.
$1,601,938
2,698,919
4,067,672
2,219,550
2,877,697
5,909,364
14,021,957
Canada..
West Indies
Central America
South America..
Chinese Empire
All others*
MANUFACTURES—FISCAL
1908-09.
$1,513,429
1,845,636
4,310,464
2,166,052
1907-08.
$1,784,190
1906-07.
$1,833,100
1,469,550
2,586,880
8,140,900
11,315,205
2,454,954
3,390,498
10,705,279
1,731,338
3,551,944
2,219,216
3,542,028
5,933,678
13,494,108
3,295,276
2,078,011
Total year
First Six months.
Second six months
..$33,397,097 $31,878,566 $25,177,758 $32,305,412
$16,672,148 $14,135,854 $12,459,429 $18,431,779
$16,724,949 $17,742,712 $12,718,329 $13,873,633
*
Includes In each year value of exports of yarn, waste, &c., not stated
by countries.
The
foregoing carries
lesson unless it be that, if manu¬
permanently extending their
outside markets for cotton goods, it must be along lines similar
to those followed by other cotton-manufacturing nations.
Great Britain, for instance, has built up an export trade in
cotton goods approximately equaling the total of all other
countries combined simply by studying to meet and catering
no
facturers harbor expectations of
to the tastes and wants of those whom it desires to
serve.
Developments of the season have not been conducive to
important extensions of the cotton-manufacturing industry
here or elsewhere, but, looking to the future, the spinning
capacity of the mills of the United States has been mod¬
erately increased, and further additions are under way or
being considered. At the North, greatest activity in mill
construction or extension of late has been at New Bedford,
but some activity is to be noted at Fall River, Lowell and a
few other points.
At the South a number of new mills have
started up during the year; there has also been a considera¬
ble addition to the capacity of older establishments, and
other factories are approaching completion.
With curtail¬
ment of production in progress almost everywhere during
some part of the season, however, the increased spinning
power of the mills is in no sense reflected in the figures of
consumption. On the contrary, both North and South less
cotton
was
consumed
usual statement of
1909-10
than
in
1908-09.
spindles in the United States is
Spindles—
North
South
•
in
Total spindles
as
Our
those at the North
in
crease
consumption has not been
wise have been the
cut
It is
figure in the operation of Southern mills in 1909-10.
sented quite contrasting
conditions in the cotton-manufac¬
turing establishments of the South. 1906-07 was a period of
great activity, from which there was a transition to compara¬
tive dulness and a decrease in consumption in 1907-08. The
following season (1908-09) witnessed a return to virtually
normal conditions of operating, and this, with the augmenta¬
tion in number of spindles, meant a consumption greater
than ever before.
In the year just closed, however, we
again have a decreased use of cotton, consumption having
been not only less than in 1908-09, but smaller than in
1906-07, notwithstanding the noticeable expansion in spin¬
ning power in the meantime. And this decline is traceable
entirely to the inordinately high prices for the raw material.
Expansion of spinning capacity in all cotton-manufactur¬
ing centres of the South continues to be a feature of the de¬
velopment of the industry there. The occurrences of the
season of 1909-10 had a somewhat deterrent effect, but, being
very exceptional in character, are not calculated to act as a
real check upon cotton-mill building.
What more natural
than that the extension of cotton manufacturing in the^
United States should be largely in localities adjacent to the
sources of supply of the raw material.
Every advantage in
that respect rests with the South, and consequently as long
as markets can be found to absorb the output of the mills,
there is likely to be no appreciable let-up in the erection of
cotton factories.
that the
tendency is shown.
As time passes, every progres¬
mill, and eventually gets it.
These facts being before us, we are prepared to learn from
our investigations that even in 1909-10 a number of new fac¬
tories began operations; that old plants were further ex¬
tended: that the completion of other new mills is imminent,
or that construction work is well under way, and that plans
for other establishments have been adopted or are under con¬
sideration.
As in former years, the information furnished
to us by the mills covers spindles and looms working or idle
during the year, including new mills started and addi¬
tions to old plants; also the actual consumption for the
season, stated in bales and pounds, the average count of
yarn spun and complete details as to new mills in course
of erection or projected, beside contemplated extensions of
existing establishments. In fact, practically all the infor¬
mation needed in|a comprehensive review of the cotton¬
manufacturing industry of the South, The aggregate of our
detailed returns, arranged by States, is as follows—all
mills that have been idle throughout the season and are not
expected to resume operations are, according to our usual
custom, excluded from the statement:
cotton
a
Number of
Southern
States.
Mills
Active
1906-07.
Virginia
No. Caro.
So. Caro
14
292
145
.28,636,430
27,780,308
26,751,919
26,124,245
Georgia
139
_
.
Florida..
Alabama.
Mlssls’ppi
Louisiana
Texas
Arkansas
Tenn
Missouri.
Kent’ky.
Okla
Consumption.
Spindles.
16,200,000
9,924,245
volume of
It is not alone in centres of manufacture
sive hamlet desires
1907-08.
as
would other¬
fact worth noting that the last four seasons have pre¬
16,300,000
10,451,919
far
as great as
Labor troubles have, of course,
a
1908-09.
17,000,000
10,780,308
so
case.
no
1909-10.
17,400,000
11,236,430
consumption of the
raw material is concerned, but there the advantage ends,
the high cost of the raw material serving to hold down pro¬
fits and force Tesort to short-time or complete stoppage of
operations. The season opened, as it did at the North,
with the establishments practically upon a full-time basis,
and a number of new mills operating or getting ready to
start up.
It was not long, however, before the incubus of
high-cost cotton began to make itself felt, with the conse¬
quent discussion of resort to curtailment. Some of the larg¬
est mills in South Carolina, in fact, closed down or shortened
production early in October, and were followed by factories
in virtually every other Southern State in increasing num¬
the South Carolina Cotton Manufacturers’ Association re¬
solved to close their establishments on July 2 and 4, and for
one week in July and one week in August.
Thus a marked
curtailment of the normal production of goods by the spin¬
dles and looms of the South has been effected, although, due
to the new machinery started up during the season, the de¬
follows:
Southern cotton mills have done somewhat better than
not
taken, however, until April,
running upwards of
a million spindles entered into an agreement to
stop nightwork and reduce output by one-third j inviting other mills
not in the organization^ join in the movement.
Later on
was
61
19
3
16
2
29
3
7
1
Running.
Looms
Run.
329,004
301,001
8,694
3,174,516 2,909,056 50,979
4,019,140 3,895,714 88,427
1,939,492 1.785,620 35,069
947,352
177,298
88,600
112,780
14,324
293,588
40,400
94,136
5,800
878,820
129,716
32,600
90,564
276,252
40,400
89.540
5,800
15,853
3,586
544
2,331
4,391
886
1,512
Average
No.
Yarn
Av’age
Bales
Net
Pounds.
Wght.
16
19
24
20
72,905
708.427
671,122
524,617
484.68
471.88
469.48
473.21
35,336,044
333.347,944
18
19
228,030
29,688
8,729
38,007
481.20
484.70
466.32
498.57
492.95
483.40
489.85
485 44
490.11
109,728,433
13*
15
16
20
13
15
8
812
,
73,894
13,488
21,325
2,889
315,076,769
248,275,045
14,389,$43
4,070,777
18,949,345
407,516
35,721,927
6,607,292
10,352,110
1,415,938
1909-10
731
11,236.430 10,435,083 212,272
20 H 2,391 933 473.96 1,133,678,983
1908-09
727
10,780,308 10,370,333 214,716
20* 2,573,524 478.75 1,232,077.174
1907-08
717
10,451,910
9.864,198 205,478
20
1902-03
594
7.039,633
6,714,589 153,748
19* 2,049,902 479,85
1897-98
391
3,670.290 3,574,754
91;829
/is*
2,234,395 477.55 1,067,010,962
1,227.939 470.04
983,649,984
577,186,180
Note.—Much new machinery has been put in operation within the past few
months, increasing the number of spindles appreciably without affecting consump¬
tion to a material extent.
' 'x' /
' i
1 iM
THE CHRONICLE
These returns indicate that in
practically
every
State
consumption,
the decline from 1908-09 being greatest in North Carolina,
which, however, continues to be the banner State in amount
of raw material used, as it is in number of mills.
In spindleage South Carolina atm leads by a pretty wide margin, but
consumes less cotton as a finer average count of yarn is
produced. The net result for the season in all the Southern
States is a falling off in consumption of 181,591 bales, or
98,398,191 pounds, making the 1909-10 aggregate 2,391,933
bales, and contrasting with 2,343,726 bales at the North,
or an excess of 48,207 bales for the newer field.
Going over
in detail the returns at hand from the South, we learn that
9 old mills, with 37,696 spindles, have ceased operations
and 13 mills running 118',188 spindles have started up since
the close of the season of 1908-09, making a net gain of
4 mills, or 80,492 spindles, in 1909-10.
The extension of
capacity of the mills in the season just closed is not, however,
fully expressed by that total, as the equipment of old mills
has been augmented by the addition of 375,630 spindles.
Therefore the aggregate net gain for 1909-10 has been
456,122 spindles.
Further expansion of the cotton-manufacturing industry
at the South may have been held somewhat in abeyance by
the developments of the past season.
Information we have
received, however, within the last few weeks demonstrates
clearly that important growth is still in progress. There
is no tendency more distinctly defined at the South than to
build cotton mills.
The Atlanta Exposition gave new im¬
petus to the tendency by drawing attention to the many
advantages the South had over other sections as the place to
locate cotton mills, and capital has done and is doing the rest.
Now every progressive community gets at some time or
other the idea that its happiness will not be complete until
it has a cotton factory and in most cases it only requires
time to witness the fruition of its desires.
That being the
case continued and considerable expansion is to be
expected
in the near and distant future.
As to the present situation,
quite a number of mills are being built and equipped, of
which 5, containing 46,000 spindles, should be in operation
before the close of the calendar year 1910, and 14 other mills,
with 149,000 spindles, promise to be turning out goodsor
yarns prior to the end of August next.
Furthermore, addi¬
tions to the old mills actually being made or in contempla¬
tion cover some 170,000 spindles, so that in the aggregate
the prospective augmentation in oapacity within the next
twelve months should be about 365,000 spindles.
The
foregoing remarks do not embrace any projects yet in a
formative stage, of which, needless to say, there are many
that will eventually prove to be going oonoerns. Of one fact
we can feel assured, and that is that so long as
progress in the
cotton-manufaoturing industry continues in the United
States, the greatest advance hereafter will be at the South.
EUROPE.—A careful study of the detailed reports re¬
ceived throughout the season 1909-10 reveals a period of
depression in the European cotton industry a parallel to
which cannot be found during the past quarter of a
century.
Its commencement found both spindles and looms running
on short-time, with a marked
scarcity of forward orders,
due to high prices and the unsatisfactory general trade out¬
look, and when to existing difficulties was added the short¬
ness of the American and
Egyptian cotton crops, which
materially reduced prospective supplies, not only spinners
and manufacturers, but everyone engaged in the cotton
trade, had to face a crisis which has entailed heavy losses
everywhere and involved many concerns in insolvency.
With the average price of cotton higher almost than within
living memory, with a continued lack of demand due to
bad trade, and the long-drawn-out effects of
over-production
and over-building of mills and manufactories, a remunerative
margin for products was at no time obtainable, and the
whole industry was forced upon short
working and a re¬
stricted output throughout the entire season.
A record growth of East Indian cotton afforded some
slight relief, more especially to Continental spinners, who
fell back to a large extent upon the coarser
counts; but
paucity of demand, both internal and external, rendered
profitable working well-nigh impossible. Exceptional causes
which have added to the gravity of the situation in the
various Continental countries are fully dealt with in our
season’s reports which follow.
The frauds perpetrated during the season
through the
instrumentality of spurious bills of lading also caused un¬
there has been
a
deorease in the volume of
[VOL.
LXXXXI.
settlement in the cotton trade of
seemed to threated the financial
Europe, especially as they
stability of some important
houses in Great Britain and on the Continent.
It is essential
to those concerned on both sides of the Atlantic that a modus
vivendi be arrived at which will render the existence and sale
of
spurious documents of that kind impossible in future.
The seventh congress of the International Federation of
Master Cotton Spinners’ and Manufacturers’ Associations
held in Brussels in the second week of June.
In re¬
was
viewing the year’s work it
was
stated that since the last
congress India, Denmark and Sweden had become members,
and that, while there were still a few countries not yet
affiliated
to the
Federation, there
was no
important country
which did not co-operate with it.
Reports of the continued
efforts to further cotton cultivation in various parts of the
world were received and the congress placed upon record its
earnest conviction that it is of vital interest to the cotton
industry of the world that these efforts should be increased
by practical support from the various governments and
others whose interest in a free supply of the raw material
are vitally at stake, and it was
urged that a delegation from
the congress should visit India and place themselves in
communication with the officials of the Government Agri¬
cultural Departments, with the object of improving cotton
cultivation and of promoting the more extensive establish¬
ment of co-operative credit societies and seed farms.
Other matters before the congress included damp in cotton,
fire insurance, baling of American cotton and protection
against spurious bills of lading; but the dominant note
throughout the meetings was unquestionably the necessity
of increasing the sources of supply of the raw material,
European consumers becoming alarmed, not without cause,
at the rapid increase in the off-take of American and Canadian
mills, which to-day are responsible for something like 40%
of the American growth, as against not more than ,25%
fifteen years ago.
It may be mentioned here that the progress
made by
Germany in the promotion of cotton-growing in Togo and
East Africa is decidedly encouraging.
In Togo the yield
resembles the American product, and averages good middling
in grade, and is of very good staple; while from KilWa, Lindi,
Sadani and the hinterland experiments made with Egyptian
seed have proved highly successful.
Great Britain.—Concluding our review of the cotton trade
of Great Britain last
it
as
remarked:
“The
season
closes
a loss, and
the books the lowest for many years
with
past,
season we
began; with the trade working at
forward orders
on
both
spinners and manufacturers remain apathetic, even
prospect of seriously reduced crops and threatened
scarcity of supplies during the coming twelve months.”
with the
Verification of this is to be found in the fact that as early as
the third, week in September a mass meeting of cotton em¬
ployers was held in Manchester, at which
a
unanimous
decision was come to “that short-time should be continued
until the middle of November by closing the mills on Satur¬
day and Monday in each week,” and nothing oould better
illustrate the deplorable state of the industry throughout
this season than the fact that the vast majority of spindles
in Lancashire never resumed full working, while a consider¬
able proportion were entirely shut down many weeks before
its close.
Threatened,
as
the prosperity of the trade has been during
past two years, by, insensate over-building and over¬
production, the climax was reached in the shortness of the
American and Egyptian crops, which, reducing available
supplies, forced values to an average level unknown to the
present generation and resulted in a wholesale curtailment
the
in the world’s
consuming power for which the trade at large
totally unprepared. Owing to widespread speculation,
values reached their highest level during the first four
months of the season, and, when the inevitable reaction set in,
manufacturers who had been forced into making contracts
in anticipation, in order to keep their looms working, refused
to take delivery, yarns accumulated on spinners’ hands,
and, with bankers calling in loans, fearing the effects of the
abnormally high prices, numerous failures of spinning con¬
was
recorded.
In May labor troubles were threatened, owing to the
Master Cotton Spinners’ Associations demanding a 5% re¬
duction of wages, which was met by a firm refusal on the
cerns were
part of the men. A conference was held and a deadlock only
avoided by a three months’ postponement of the whole
question. Happily, when the conference was resumed in
July, a solution was arrived at whereby it was agreed that
THE CHRONICLE
Sept. 10 1910. j
the existing scale
both sides agreeing
that period.
of wages should obtain for five years,
to formulate no further demands during
Regarding British cotton growing, at a recent meeting
of the Association it was reported that further grants
from the Government and the Lancashire County Council of
£10,000 each had been made, that a further gum of £150,000
was being raised, and that seven more pioneer gins and buy¬
ing stations would be established. On the whole, the prog¬
ress made by the Association was very encouraging.
The year’s textile trade with Japan was on the whole
most disappointing.
It had been confidently hoped that an
appreciable improvement over the unprecedented falling off
of the previous season would make itself felt; but these ex¬
pectations were not fulfilled. There is some consolation
in the knowledge that stocks have at length been largely
reduced, but prices are still a long way below replacing cost.
The Consular report states that, had Manchester prices not
risen so high, it is possible that much better business might
have resulted, but Japanese buyers were deterred, owing to
the low prices to which domestic goods had fallen, due to
the crisis through which many of the weavers passed in the
autumn; and the dealers in imported cottons contented
themselves, therefore, with doing a hand-to-mouth business.
In view of the proposed change in the Japanese tariff,
involving a definite step towards high protectionism in
the home market, it is feared that a further curtailment in
exports will be inevitable.
The export of yarn and piece goods for the eleven months
ended July 31 (August figures not yet being available), as
compared with the same, period during the two preceding
seasons, was as follows:
1909-10.
Yarns, pounds
Piece goods, yards
178, 86,000
5,367.707.000
1908-09.
1907-06.
188,685,000
4,920,948,000
219,783.000
5.360.059.000
Showing a decrease in yarns of 9,749,000 pounds, as com¬
pared with last year, and 40,847,000 pounds below 1907-08,
while piece goods show an increase of 446,759,000 yards
compared with last year and of 7,649,000 yards compared
with the year before.
The European Continent.—As will be gathered from the
following reports, the depression under which the cotton
industry started the season continued, and became more
intensified as it advanced. The main cause has undoubtedly
been the high cost of the raw material and the consequent
increased price of the manufactured article.
The lessened
demand for goods, though this to some extent was accentu¬
ated by a change in fashion to linen and woolen materials,
proves that the ultimate cost has a very vital influence upon
demand, especially when at the same time the spending
power of the people is reduced by unfavorable harvests,
an increased cost of living and strikes and lockouts in many
of the great industries.
In Germany, in consequence of the
hi^i price of the raw
material, intensified by wide and erratic fluctuations, the
industry has experienced a period of depression the worst on
record. The mills, almost without exception, have been com¬
pelled to run short-time, as instead of the hoped-for revival,
the demand became less and less, sales
were
most difficult
make, and at no time were tne prices obtainable on a
ruling for the raw material. Spinners espe¬
cially suffered from the unremunerative business, as weavers,
even though they offered
goods, m order to keep their
operatives together, on a parity below that ruling for cotton,
to
basis of those
found it difficult to make sales, as wholesale dealers, owing
to the restricted demand from consumers at high prices, only
operated from hand to mouth. The lessened demand for
cotton goods also has been partially due to a change in
fashion which favored woolen and linen materials for
ladies’ wear.
The hosiery branch of the industry was un¬
favorably affected by the new United States tariff, which
advanced the duty on cotton hosiery 20 to 25%; but how
far the present lessened demand from the United States
is due to the accumulated stocks purchased under the old
tariff, how far due to general trade conditions there, or to
what extent the exports will ultimately suffer, it is at present
impossible to say. Since the beginning of January working
hours have been legally reduced from 65 to 58 hours per
week.
The interest in cotton growing in German African colonies
and elsewhere is as large as ever, and in October, at a con¬
ference held at the Imperial Office in Berlin, the delegates
of the various cotton-manufacturing combinations passed
a resolution to effect an
agreement on the part of the firms
represented by them to contribute annually for the years
1910, 1911 and 1912 a sum equal to 10% of the amount of
premiums paid by each firm for accident insurance of its
employees towards the support of the Colonial Committee for
Cotton-Growing Promotion.
In Austria business has continued most unprofitable.
reduced export and a lessened home demand, owing to
A
the
unsatisfactory grain crops, which geatfy enhanced the
cost of living, made it impossible for spinners to sell yarns
625
from
this, and so have not suffered to the same extent as
so the demand for goods was dragging
and unremunerative.
All the mills have run short-time, and
little hope is entertained of an early improvement unless (he
raw material can he bought cheaper.
In France the demand has been slow, and the results of
business for both spinners and manufacturers unsatisfactory.
At the beginning a fairly healthy inquiry was experienced,
and, though the prices obtained left but a narrow margin,
it was hoped that conditions would improve as the season
With the rise in the price of the raw material,
advanced.
however, the demand slackened, and after contracts made
ahead had been worked off, yarn orders could only be
booked at a loss, and these only in restricted quantities,
owing to the poor demand for manufactured goods, buyers
refusing to pay the increase in price demanded, notwith¬
standing that the rise asked for in no way corresponded to
that experienced in raw cotton.
Spinners and manu¬
facturers “ have worked short-time, and in some instances
weavers passed over to the wool and linen business, in which
branches of industry there was a better and a more re¬
spinners; but even
munerative demand.
In Russia the condition of the industry has been fair.
For the first part of the season mills were kept employed on
contracts made ahead on a fairly satisfactory basis, but later
the demand fell away as prices advanced, and short-time
had to be resorted to.
Weavers were handicapped by the
mild weather and bad condition of the roads.
The out-turn
of the Asiatic cotton crop was very good, and about half the
quantity needed by spinners was supplied by cotton grown
in Russian dominions (including Bokharan, Caucasian and
Persian cottons).
In Holland and Belgium the high prices have had an
adverse influence on the industry.
The demand for cotton
goods for both home consumption and for export has been
slack throughout.
Offers were placed with difficulty, and
at unremunerative rates, which caused many weavers to
turn to the manufacture of linen goods.
Mills worked
short-time, and the end of the season sees the industry in
Holland practically at a standstill, owing to a labor dispute.
In Italy the conditions have been most unfavorable.
Wholesalers, having heavy stocks on hand, entered
the market but sparingly, and would only buy at prices
that left spinners and manufacturers a considerable loss.
In order to cope with the crisis, the Italian Cotton
Spinners’ Union succeeded in forming a syndicate for Indian
cotton to regulate the output, and so relieved to no incon¬
siderable degree the position in this branch of the industry .
An attempt was also made to form a syndicate for tne
American cotton section, the over-production being very
serious.
It was intended to have a financial organization
which would take over the excess output, but this proved
impracticable, the conditions in the various localities differ¬
ing so widely. In February, however, a looser form of
organisation was formed, toe members of which represented
over three million spindles.
Statistics of output were pub¬
lished at intervals and production was regulated according
demand. The mills benefited to some extent from
this arrangement, but even then the prices obtainable left
much to be desired.
to the
In
Spain the condition of the industry has been worse than
continuing small and at prices altogether
with the high cost of cotton. Not only
has short-time been run, but a large number of mills shut
down altogether from time to time as contracts ran off, the
loss being less than working into stock.
In other cotton-consuming centres of the Continent the
same lack of demand for cotton goods at high prices has
been experienced, and business could only be put through
at a loss to producers.
In some cases the import of English
yarns aggravated the position of spinners, while weavers
labored under the disadvantage of a change in fashion
which called for less production of cptton goods.
From the above reports it will be seen that the past season
has been one of the most unfavorable on record, and, while
at the moment there is little sign of any improvement, it is
hoped that more plentiful home harvests and increased
activity in other leading industries, and, last but not least,
ever, the demand
out of proportion
decline in the cost of the raw material will insure the muchneeded and ardently wished revival in the cotton trade.
a
The
foregoing review of the spinning industry of Great
on the Continent of
Europe in 1909-10, which in
an interesting and snecinct manner points out the varying
phases of the situation, is furnished by Messrs. Ellison &
Fame of Liverpool.
Taken in conjunction with our remarks
on the situation in the United States,
presented further
above, it covers quite fully the countries of the world that
take chief important rank in cotton manufacturing.
Britain and
We should fail to comprehensively trace
the world's prog¬
in cotton production and manufacture if we did not
make some reference to a number of other countries that
ress
as, with the increase in the are growing factors in the industry although of lesser im¬
spindles that has taken plaee during the last year portance as spinners or manufacturers of goods. We use
or two, the mills are capable of producing more yarns than,
official data in those cases so far and for as late periods as it
at high prices, there is a demand for, there was keen com¬
can be obtained and present below the results reached giving
petition for the small business offering, with the result that (1) the cotton consumption of each manufacturing country
prices, already below the parity of the raw material, were for a period of four years and also the total annual and
still further depressed.^Weavers gained some advantage average weekly consumption; (2) the world’s production of
except
at serious losses, and
number of
THE CHRONICLE
626
(commercial crops) for the same years and (3) the
spindles in all manufacturing countries from which we can
obtain reliable information as they stand to-day compared
cotton
with like results in former years.
In India, the country next in importance to Europe and
the United States, according to the information at hand,
there has been a moderate check to cotton consumption.
Japan, also, so far as we can gather from recent advices,
has used less cotton in the season just closed.
Its takings
from the United States have been very much smaller than
in the previous season—less than half—but the deficit has
been made up largely by increased imports from India.
In
both these cases high prices account for the falling off in
consumption.
In fact that is the explanation the world
we are forced to adopt the
imports into each country as a measure of consumption;
in the case of the former no recent statistics covering home
yield or mill operations have been obtainable and Canada
has no source of supply other than through imports.
No
For Mexico and Canada
over.
statistics of value can be secured from China or Brazil.
“Other Courltries,, consequently include exports of cotton
from the United States and Europe to localities other than
those specifically mentioned in the table; also the cotton
burned or lost at sea.
The compilation appended therefore
embraces substantially the entire distribution or consump¬
tion (expressed in bales of 500 pounds net weight each) of
the commercial cotton crops of the world, and the degree in
which each country has participated.
THE WORLD’S ANNUAL COTTON CONSUMPTION.
Countries^—
Great
Britain
Continent
Total Europe
United States—North
South
1909-10.
1908-09.
Bales.
3.320,000
5,460,000
Bales.
3,720.000
5,720,000
1907-08.
Bales.
3.690,000
5,720,000
1906-07.
Bales.
3,892,000
5,460,000
8,780,000
2,265,414
2,267,358
9,440,000
2,448,040
2,464,154
9,410,000
2,093,000
2,134,000
9,352,000
2,575,000
2,375,000
Canada
Mexico
4,532,772
1,600,000
850,000
114,153
19,565
4,912,194
1,653,456
880,830
128,450
49,157
4,227,000
1,561,336
890,736
100,000
2,000
4,950,000
1,552,453
906,805
125,000
640
Total India, &c
Other countries, &c
2,583,718
89,000
2,711,893
90,000
2,554,072
85,000
2,584,898
92,000
15,985,490
307,413
17,154,087
16,276,072
313,001
16,978,898
326,517
__
__
Total United States.._
East Indies
Japan
,
Total world
Average weekly
329,886
The aggregate consumption of the world for 1909-10, it
will be noticed, exhibits a lossof 1,168.597 bales from the total
recorded last year and is 290.582 bales less than the result
of 1907-08.
All the countries share in the loss from 190S-09.
The sources from which cotton has been drawn in each of
the last four years ar§' stated in the following compilation
of the world’s commercial crops, represented in bales of uni¬
form weight of 500 lbs. each.
In the above we use estimates furnished
by Messrs Ellison
& Fame for Great Britain and the
Continent, revising pre¬
vious years’ figures from later obtained information.
The
results for the United States are, of course, our own
figures,
and those for India are taken from the official
reports of the
Bombay Mill-owners’ Association, except that the latest
an
approximation. Japan’s aggregates are officially
communicated, China’s figures are compiled from Consular
total is
reports *and for Canada and Mexico the totals
$
V
r.
~
WORLD’S PRODUCTION OF COTTON/
:
F* Countries—
1909-10.
Bales.
...
United States
East Indies .a
Egypt
Brazil,
1908-09.
Bales.
1907-08. {
Bales.
1906-07.
Bales.
Bales.
......10,310,168 13,551,890 11,257,538 13,306,846 11,002,904
3,839,000 2,976.822 2.486,629 3,535,086 3,054,446
91 ',010
1,246,150
1,432,469
1,326,108 1,117,516
280,0J0
266,197
299,006
446,126
476,667
&c.d
Total
15,339,168 18,041,059 15,475,642 18.614,166 15,651,533
Consumption, 52 weeks..15,985,490 17,154,087 16,276,072 16,978,898 16,435,228
by the volume of exports, Great Britain’s
goods with foreign countries has increased
moderately during the year, but almost wholly in conse¬
quence of heavier shipments to India.
Takings for North
and South America, however, have also been greater
than
a year
ago.
On the other hand, dealings with China have
been appreciably less than in 1908-09 and the outflow to
Mohammedan points have been a little below those of the
previous year. The net result for the year is a gain of about
5}4% in British export trade in cotton goods, as compared
with 1908-09, against an increase in that of the United States
of 4%%. The statement of
exports (reduced to pounds) by
quarters for the last two seasons is subjoined. These years
end with Sept. 30 and
consequently the last two months of
the fourth quarter of the current season are estimated on the
basis of the July movement.
Three ciphers are omitted.
GREAT BRITAIN’S COTTON GOODS EXPORTS FOR TWO YEARS.
1909-10
1908-09
a Yarns.
PicceGoods. Total.
aYarns. PieceGoods. Total.
(000s omitted.)
Pounds.
Yards.
Pounds.
Pounds.
Yards.
Pounds.
1st quar.—Oct .-Dec
59,873 1,461,813
342,576 50,149 1,223,012
287,026
2d quar.—Jan.-Mch.___ 54,613 1,443,091
334,806 60,545 1,347,674
321,879
3d quar.
April-June.. 51,601 1,421,068
327,377
59,813 1,314,781
313,875
4th quar.—July-Sept.b. 60,000 1,575,000
302,000
1,598,061
373,565
64,774
Total
a
886,972
*800,430
1,635,268
*783,695
Sept. 1 beginning year. 6.040,748
Sept. 1 ending year... 5.394,426
5,153,776
6,040,748
5,954,206
5,153,776
4,318,938
5,954,206
5,102,633
4,318,938
a Includes India’s exports to Europe, America and
Japan and mill consumption
in India, increased or decreased by excess or loss of stock at Bombay.
d Receipts into Europe from Brazil, Smyrna, Peru, "West Indies, &c., and
Japan
and China cotton used in Japanese mills.
* Deficiency in the year’s new supply.
The above statement indicates in terse form the world’s
supply of cotton (not including that from Russia) in each of
the five years, the amount consumed and also the extent
which
visible and invisible stocks were augmented or
It will naturally be remarked how
largely the
diminished.
surplus supply has been increased of recent years. At the
time it will not escape attention that as a result of the
reduced yield of 1909-10 the
aggregate surplus has been
drawn dowrn to a quite appreciable extent,
although still of
apparently large proportions.
The augmentation of the
Spinning Capacity of the wTorld
has been only moderate the
past season. The most import¬
ant change has been in the southern
part of the United
States, where an addition of 456,122 spindles has occurred,
the total standing now at a little over eleven million
spindles.
The increase in Europe has been about
equally divided
between Great Britain and the Continent.
Our compilation
same
for the world is
.
-
Total Europe
United States—
North
South
.
.
..
_
.
Japan
China &
.
Egypt...
Total India. <fec
Canada
Mexico
Total other....
Total world
follows.
NUMBER OF SPINDLES IN THE WORLD.
1910.
1909.
1908.
1907.
Great Britain
Continent..
Total U. S..
East Indies
as
.
226,147 5,900,972 1,366,759 235,281 5,483,528 1,296,345
b Estimated for the quarter on the July movement.
Including thread,
The totals in
pounds in the above compilation are as com¬
puted by us, but are believed to be approximately correct.
They indicate that the export movement this season has been
1,366,759,000 pounds, or 70,414,000 pounds more than
in the previous season, but 24,334,000
pounds smaller
than in 1907-08, wrhen the outward movement of cotton
goods was 1,391,093,000 pounds. The record exports from
Great Britain were 1,480,075,000
pounds in 1906-07.
To complete the year’s history of the cotton
goods trade
in Great Britain we append data
as to prices, the statement
covering the last three years.
-
1909-10.
UMipd'd. Cot n.
Liverpool.
32-Cop Twist.
d.
7.36 10
31__ 7.89 10
30_. 7.65 10
Per
d.
s.
3-16 7
15-16 7
11-16 7
Average)
1 7.63 10 5$
Nov. j
31
8.50 11 3-16
31__ 7.68 10*$
Feb.
28
8.00 10 13-16
Sept.
Dec.
Jan.
Shirtngs,Piec. MiUpd'd. Cot n.
1
Sept. 30_.
Oct.
Nov.
1908-09.
__
__
ft
Shirtngs,Piec .
Sg
n
^
|
d.
6
d.
d.
5.18 9 3-16
5.08
8
15-16
8H
8*$ 4.98 8 5$
1907-08.
s.
7
6
6
O.
b|
T
•
Shirtngs,Piec.
g
Per
!8
d.
3
9
6
d.
d.
6.72 11 3-16
6.03 11*$
6.19 115$
8
8
7
6.31 11 3-16
8 0 1-3
Per
s.
d.
3
0
10
77 9-16 5.08 8 5$
6
9 5$ 4.99 7 5$
7 *$ 5.26 8
9
5.05 75$
6
6
6
5 *$ 6.18 11
7
7
6.39 10 11-16 7
6
5.99 9 9-16 7
75$
65$
o>$
7 8 2-3 5.10 7 13-16
6
6
7
45$
10*$ 5.05 7 11-16
11*$ 5.53 8
0 5$ 5.88 85$
6
6
6
6 *$ 5.70
8 *$ 5.30
10
6.46
6
6
6
85$
5 >$
7*$
6
8 *$ 5.82
7
7
7
10
Average)
Surplus from year’s crop *646,322
Visible and invisible stock:
to
in part
As indicated
trade in cotton
Rj
'*
1905-06.
are
estimated
jjjjg
51
l VOL. LXXXAI.
1906.
56.000.000
39,500.000
55,600,000
39,000,000
54,600,000
37,000,000
52,000,000
35,800,000
35.500,000
95.500.000
94,600,000
91,600,000
87,800,000
85.500.000
17,400,000
11.23),430
17,000,000
10,780,308
16,300,000
10,451,919
16,000,000
9,924,245
15,600,000
28.636, 30
6.100,000
1,800,000
850.000
27,780,308
6,053,231
1,731,587
836,000
26,751,919
5,756,020
1.695,879
786,000
25,924,245
5,333,275
1,483.497
690,000
24.781,207
8,75 >,000
9 0,000
750,000
8,620,818
890,000
726,278
8,237,899
7,506,772
800,000
693,842
7,369,783
849,437
732,876
50,000,000
9.181.207
5.293.834
1,450,949
625,000
775,000
688,217
1,650,000
1,616,278
1,582,313
1,493,842
1.463,217
134,536,430 132.617.404 128,172,131 122,724,859 119,114,207
Dec. 1 8.06 10*$
Feb. J
Mch. 31__ 8.11 11
April 30.. 7.95 11
May 31__ 8.10 11
7
7
8
6.19 10 7-16
Average)
Mch
f 8.05
7111-3 5.49 8
11
»
Mag.)
June
30__ 7.85 10*$
July 31-. 8.16 10 15-16
7.98 11
3-16
Aug. 31
Average)
June 1 8.00 11
Aug. J
__
We now add
the Manchester
a
7
8
8
8
10 5$ 6.24 85$
0*$ 6.73 95$
1*$ 6.85 9 *$
0
6.61 9 *$
6
7
7
7
11
1
6.47
6.02
15$ 5.25
0*$ 5.91
8*$
85$
9 *$
8 13-16 6
7
9 >$
85$
8 *$
6
6
7
6
6
35$
85$
6
55$
brief summary by months of the
course
of
goods market during the season closing with
Aug. 31 1910 and also of the Liverpool cotton market in
the same form for the same period.
These summaries have
been prepared for this occasion with our usual care, and the
details will, we think, prove an interesting and serviceable
record for reference.
SEPTEMBER.—Manchester.—Developments in
the cot¬
ton goods trade in September were not of a character
seeming
to warrant a return to full working time, and
consequently
at a mass meeting of the Spinners’ Federation held on the
17th it
unanimously resolved to continue the weekly
However, as no ballot was taken,
members were not irrevocably committed, but the recom¬
mendation was widely observed.
The reduction in output
and higher prices ruling improved spinners’ margin, but trade
for forward delivery was rather restricted.
Further meetings
were held during the month by the
Ring Mills Association
and by the Nelspn manufacturers, with the view of
entering
into some combination by which the
maintaining of prices
would be brought about; but no definite action was taken.
The conciliation conference, which has under discussion the
formulation of a plan for the automatic regulation of
wages,
also came together during the month, but adjournment was
taken to Oct. 11 without any result being announced.
At
the opening of the month there was an appreciable improve¬
was
stoppage until Nov. 8.
ment in the demand for cloth and some idle looms were
started up.
Inquiry was quite effectively checked, however,
before the month had far advanced, by the high prices asked,
Sept. 10 1910.
THE CHRONICLE
and in the last fortnight it was difficult to trade,
although
the general tone of the market was a little better than it had
been.
India bought quite freely at times, and more exten¬
sive dealing was looked for later on as a result of the
good
harvests.
For other markets transactions were as a rule
only moderate, and little was done for China. Home trade
was checked by the advance in prices.
Exports of yarns
and goods from Great Britain (all reduced to pounds) aggre¬
gated 112,964,000 lbs., against 109,188,000 lbs. in Septem¬
ber 1908.
Mr. Ellison estimated consumption for the month
at 62,500 bales of 500 lbs. each per week and 110,000 bales
of like weight on the Continent.
Liverpool.—Following the
course of values in the United States, the
tendency of prices
for the raw material was upward during September, but not
steadily so. Opening at 6.80d., middling upland moved up
to 7.0Id. by the 6th, but a decline then set in that carried
the quotation down to 6.77d. by the 14th.
From that level
there was a quite well sustained advance to the close, which
was at 7.36d. against 6.85d. at the end of
August.
OCTOBER.—Manchester.—The volume of trade in
th*e
goods market in October was of disappointing extent.
In fact, neither bikers nor sellers found any encouragement
in the course of events.
The probability of a shortage in
the supply of cotton stimulated a further advance in prices
for the raw material and caused a marking up of values
of the manufactured product that interfered seriously with
trade.
In fact, buyers for all markets were indisposed to
commit themselves at what to them appeared to be exces¬
sively high prices. With good crops in India and a con¬
dition of prosperity in that country,demand was fairly
good
for that market early in the month, but on the whole trans¬
actions were below the average.
China, under the adverse
conditions existing, did but little, and only a very limited
demand was in evidence from Japan and the smaller Far
Eastern markets.
For the Continent also dealings were
light, there was a perceptible let-up in the inquiry for South
America and the home trade bought only to supply
pressing
requirements. Spinners of American cotton were upon
short-time quite generally during the month and the advance
cotton
in the
ment
raw
to
material frustrated in great measure any move¬
improve margins.
short-time
With conditions
as
they
were
natural sequence, and at the Frankfort
meeting of the International Federation the need
was
a
627
DECEMBER.—Manchester.—The market for cotton goods
adversely affected by the continued advancing tendency
of prices for the raw material during the month.
In fact,
except to satisfy urgent needs, there was indisposition to
trade upon the higher basis of value the
ruling cost of cotton
made necessary, and consequently the volume of transac¬
tions was of disappointing magnitude.
Under the circum¬
stances curtailment of production was in
order, and even at
that manufacturers were but lightly under commitment
at the close of the month.
December opened with business
almost stagnant, but toward the middle of the month a
little activity was noticeable, China, South America and the
Levant contributing a fair aggregate of small orders.
But
the further advance in cotton quotations later on served to
widen the breach between buyer and seller, and so far as
actual dealings were concerned reduce the market to a con¬
dition of actual dulness.^'The home trade was
practically
out of the market, relying upon stock secured at lower
figures
to meet the demand for the immediate
future, and anticipat¬
ing a more favorable purchasing basis after the turn of the
year.
Exports of yarns and goods from Great Britain were
111,847,000 lbs. against 93,238,000 lbs. in December 1908,
and for the calendar year shipments reached 1,351,951,000
lbs., as compared with 1,310,298,000 lbs. in 1908. Mr.
Ellison maintained the average weekly rate of consumption
as in November.
Liverpool.—A generally upward tendency,
following the course of prices in the United States, charac¬
was
terized the trend of the market for the
raw
material.
Midd¬
ling uplands opened the month at 7.68d., or 3 points above
the November close, and further moved up to 7.93d.
by the
6th.
A moderate recession followed, but on the 9th the
quotation was 8.Old. and after dropping 7 points on the 10th
advanced to 8.26d. on the 11th.
Daily fluctuations there¬
after to the 23d resulted in no net change in the
price, but
between the 28th and 31st a gain of 24 points was wit¬
nessed, making the final price 8.50d., against 4.99d. on
Dec. 31 1908.
JANUARY.—Manchester.—While no very definite im¬
provement in the cotton goods trade was observable in Janu¬
ary, encouraging signs were reported in some quarters.
High prices still served to materially check demand, and
consequently short-time was yet operative in Lancashire.
In fact, action taken by the Spinners’ Federation in Novem¬
ber insured curtailment up to the close of
February, before
(Germany)
regular organization of the policy was emphasized. In
fact, the Master Spinners’ Federation at their meeting in which date a further consideration of the situation was ex¬
Manchester on Oct. 29 favored the Continuing of curtailment. pected to determine
upon the course of action thereafter.
Efforts to reach some agreement upon a sliding scale of
wages There was, in any event, a quite settled conviction that no
had been thus far ineffective.
Yarns and goods exports very immediate return to full
working time could be looked
from Great Britain reached 120,619,000
lbs., against 106,- for, such a development being in great measure dependent
839,000 lbs. in October 1908. Mr. Ellison estimated the upon a lower basis of value for goods. And that lower basis
weekly rate of consumption in Great Britain at 65,000 bales could come only through more reasonable cost of the raw
and the Continental rate 105,000 bales.
Liverpool.—As in material. Manufacturers on the whole experienced an un¬
September, and based upon the idea of a shortage in the satisfactory month, with, however, occasional signs of im¬
American supply, the course of prices for the raw material
provement towards the close.
Favorable conditions were
was upward, although not
steadily so. From the opening reported in India, but there was at the same time resolute
level of 7.29d. middling upland advanced 6
points the fol¬ resistance to the high prices current for goods, and conse¬
lowing day and then eased off to 7.10d. by the 6th. There¬ quently trade was rather quiet. Some improvement in the
after, with rather unimportant setbacks, the advance con¬ demand from China developed in the last few
days of the
tinued., with the close at 7.89d.
month and was taken as an augury of better times to come.
NOVEMBER.—Manchester.—There was nothing of an Japan and other Eastern markets contributed but little to
•encouraging nature to report with regard to the cotton goods the trading; but transactions for South America were of
market in November.
The Board of Trade returns showed, fairly good volume.
The home trade was considerably
of course, a larger volume of exports
than during the month hampered by the general election, but prospects for the
•of the previous year, but they
represented the filling of earlier future were believed to be fair. The yarn market showed
orders and could in no sense be taken as indicative of current some improvement, but was still
depressed, the short time
trade.
On the contrary, trade was quiet, the
high price of not having brought respectable margins. - Yarns and goods
American cotton having checked demand.
But as spinners exports from Great Britain reached 114,555,060 lbs., against
and manufacturers were in need of
orders, many were in¬ 100,994,000 lbs. in January 1909. Weekly rate of con¬
duced to take them at a loss rather than shut down ma¬ sumption
unchanged. Liverpool.—The tendency of the
chinery. The general committee of the Spinners’ Federa¬ market for the raw material was generally downward during
tion recommended the extension of short-time
working until the month. Opening at 8.44d., or 6 points below the De¬
the close of February, and the
suggestion was agreed to very cember close, there was a recession to 8.05d. by the 6th.
generally. Depression having extended to the weaving The quotation then advanced to 8.32d. on the 10th, but a
branch of the trade, many looms were idle,
greatly reducing decline again set in, which, though temporarily arrested at
the output of cloth.
Attempts by the conciliation com¬ times, was still quite steady, and carried the price at the
mittee of employers and operatives to reach a
satisfactory close to 7.68d., or a loss of 82 points for the December final.
plan of adjusting the wage scale were apparently abandoned,
FEBRUARY.—Manchester.—Some improvement in the
the master spinners feeling unable to
grant the concessions cotton-goods market was reported in February, but the de¬
desired by the employees.
Cloth sellers experienced an velopment of demand was not pronounced enough to dispel
•extremely unsatisfactory month, and the backwardness of the depression that had been for some time
operative in both
buyers, it was said, would mean a short supply of some spinning and weaving branches. At the same
time,
descriptions of goods in the spring. Sales for forward de¬ were more disposed to place orders and the number ofbuyers
trans¬
livery were very difficult to make, and, although prices for actions increased, although very few of them were of much
stock were not generally satisfactory,
they were generally size. Needless to say, the principal adverse factor affect¬
disappointing. Reports from India encouraging, but busi¬ ing the market was the scarcity and dearness of cotton. De¬
ness below normal.
China and other Eastern markets did mand for India was
quiet, especially for Calcutta, where it
but little.
In fact, trade for South America was the
only was understood there was a considerable stock of goods,
favorable development.
Yarns and goods exports from purchased at prices much lower than then current. While
Great Britain in November were
110,109,000 lbs., against China had placed an increased volume of orders since the
86,949,000 lbs. for the same period of 1908. Average New Year holidays, towards the close of the month the fall
weekly consumption of cotton estimated the same as in the in the price of silver
discouraged exporters. Japan bought
previous month. Liverpool.—Frequent fluctuations char¬ rather more freely, but
little was done for other Far Eastern
acterized the course of the market for the raw material for markets and
a very moderate trade for Mediterranean
only
November and they netted a decline of 24
points. Opening points was put through. No noticeable features developed
at 7.89d. middling uplands advanced to 7.95d.
by the 3d, m the South American trade, although there was steady but
but declined 4 points the
following day. On the 5th the cautious buying for that quarter. Distribution to the home
spread of the curtailment movement was the chief factor trade proceeded on fair
lines, but fresh business was, as a
in precipitating a falling off to 7.59d. the low
point of the rule, secured with difficulty, and on price concessions. On
month.
Thereafter there was no definite
tendency to the the whole, manufacturers did poorly, with those who spin
market, which closed Nov. 30 six points up, at 7.65d.
their own yarn at the greatest disadvantage.
A better defor
.
628
THE CHRONICLE
mand for American yarns was reported, but at no material
improvement of margins. It was decided about the middle
of the month to extend the period of short-time running by
eight weeks,
or
from
Britain
Great
Exports of yarns and goods
February were 109,311,000 lbs.,
to April 25.
in
against 103,593,000 lbs, in the month of 1909. The aver¬
age weekly rate of consumption remained as in the previous
month.
Liverpool.—The market for the raw material fluc¬
tuated largely- in sympathy with developments in the United
States.
At first the trend of prices was upward, middling
upland from the initial quotation of 7.73d. advancing to
8.14d. by the 7th, and after a slight setback reaching 8.19d.
on
the 14th.
From that level there was an important,
though not steady, decline to 7.88d, on the 24th and a recov¬
ery to 8d. at the close—a gain of 32 points during the month .
MARCH.—Manchester.—Further improvement, both as
regards volume of business and margins for profit, were noted
in the cotton-goods trade in March; yet dealings did not
offer fair remuneration to producers and the prospects for
the future were rather indefinite.
The factor working against
manufacturers was the apparent scarcity of cotton and the
consequent high prices necessary to be paid in order to secure
needed supplies.
The gist of the situation was that, al¬
though the cloth trade was a little better than it. had been
for some months previously, there was still left plenty of
room for improvement.
Purchases for India were of disap¬
pointing volume throughout the month, the bettor grades of
goods in particular being neglected. Demand for China,
on the other hand, showed distinct
improvement, and buving for Japan was rather brisker. For the Near Eastern
markets not much was done, but the disposition in those
quarters appeared more optimistic. South America, the
Continent and the home trade, however, did a fair miscel¬
laneous business.
Yet, with it all, some manufacturers
had fared quite poorly, not any had done well, but a grad¬
ual strengthening of prices was to be noted.
The course of
the cotton market had helped little, if at all. to improve
spinners' margins, and there appeared to be a probability
of an attempt to reduce the wages of operatives.
Yarns and
goods exports from Great Britain reached 110,941,000 lbs.,
against 117,292,000 lbs. in March 1909. Estimates of con¬
sumption were unchanged. Liverpool —The market for the
raw material made a further but moderate net
gain in prices
during the month. Opening at 8.06dv, middling, uplands
advanced 2 points on the 3d and then took a downward
course, dropping to 7.93d. by the 8th.
From that level there
was a
quite steady rise to 8.20d., which quotation was
reached on the 19th, a decline to S.lld. occurring on the
21st and an advance to 8.22d. on the opening of business
after the Easter holidays, on the 29th.
On the 30th and
31st, however, there was a loss of 11 points, the close being
at S.lld.—a gain of 11 pointsover February’sfinal quotation.
APRIL.—Manchester.—Notwithstanding the handicap of
high prices, a better business was reported in the cottongoods trade in April, although it could not be said that manu¬
facturers were, except in isolated cases, doing well.
Some
uneasiness was occassioned by storm and frost reports from
the United States late in the month, but it w^as removed by
subsequent advices that indicated the damage done to have
been moderate and not irreparable.
By far the most im¬
portant development of the month was the disagreement be¬
tween employers and operators over the question of wages.
At a conference with the operatives’ representatives which
was held at the request of the committee of the
Spinners’
Federation, a reduction of 5% in wages was insisted upon by
the owners, the men firmly resisting; so no agreement was
The conference adjourned without reaching any
arrived at.
agreement, to meet again on May 2, when it was hoped some
arrangement would be arrived at that would prevent any
rupture. In the meantime, organized short-time had come
to an end and some spinners were resuming full
operations,
but it wras feared that the available supply of raw material
would not permit of full production.
At the same time,
the statistics of spinners’ stocks compiled by the Interna¬
tional Federation indicated that those invisible supplies on
March 1 were larger than anticipated.
As regards the manu¬
facturing situation, more looms were working and hopes were
entertained that the improvement already witnessed would
continue.
Some revival in business for the East was re¬
ported early in the month, and China bought quite freely.
Indian markets were rather irregular, but on the whole im¬
proving, and South American markets were normally active
for the time of year.
Home trade was fairly good. Spin¬
ners of American
yarns did better, and in medium counts
margins improved, though coarse numbers were still unpro¬
fitable.
Exports of yarns and goods from Great Britain in
April were 107,463,000 lbs., against 105,179,000 in the
month of 1909.
No ehange was made in the average weekly
rate of consumption.
Liverpool.—The market for the raw
material was without any pronounced, tendency
during the
month.
Opening at 7.96d., or 15 points below the March
close, middling uplands advanced to 8.04d. by the 4th,
fluctuated between 7.Sid. and 7.98d. from the 5th to the
25th, inclusive, and moved up to 8.Old. on the 26th. A
decline to 7.92d. occurred the next two days, and the close
was
at 7.95d.
MAY.—Manchester.—The demand for cotton goods was,
on the whole, fairly good at the opening of the
month, but
fell off as time advanced and at the close business was rather
dull.
Trading was not only interfered with by the Whit¬
suntide
[VOL.
LXXXXI
holidays, but the death of King Edward and the
disturbance to business consequent thereupon were adverse
factors in the situation. Crop news was not potential, but the
question of supplies to bridge over the period until new cotton
come upon the market was an absorbing question.
Meanwhile, with short-time at an end, it became clear that
the market could not for long absorb all the supply of yarn
that a full working of the spindles would
turn out. Re¬
ports indicated that, for the time being at least, looms and
spindles were quite generally under orders, and that a grad¬
ual improvement in the position of both spinners and manu¬
facturers had taken place. WTith the concurrence of 92%
of the members of the Spinners’ Federation, announced on
May 27, the executive committee was supported in its pro¬
posal to reduce operatives’ wages by 5%; but out of respect
for the memory of the late King Edward and consideration
for King George, it was decided to defer action for three
months.
As regards the cloth market, no special features
are to be recorded.
China and Japan did comparatively
little, and while reports from some of the Near Eastern mar¬
kets were rather better, and South America bought steadily,
the home trade was affected by the King’s death.
Yarns
and goods exports for the month from Great Britain were
104,453,000 lbs
against 105,038,000 lbs. in May 1909.
Weekly rate of consumption remained as in April. Liver¬
pool.—The market for the raw material developed no ten¬
dency in either direction during the early days of the month.
The opening was at 7.94d. for middling uplands, a decline
of 1 point from the April close and a further recession to
7.92d. occurred on the 3d
Prices then moved upward in an
intermittent way until 8.18d. was scored on the 13th. From
that level there was a decline to 8.04d. by the 19th and an
advance to 8.19d. on the 23d.
The quotation then dropped
to 8.07d. on the 25th and in the remaining days of the month
gained 3 points net., closing at 8.10d.
JUNE.—Manchester.—Developments in the cotton-goods
market in June were of a disappointing character on the
whole.
After the temporary settlement of the wage ques¬
tion at the close of May, business became conspicuously
slack, and in the main so continued throughout. June. Con¬
tributory to this result was the favorable news of the Ameri¬
can crop, that had the effect of
shaking the confidence of
buyers in the maintenance of high prices for goods. One
or two important
factors, moreover, were instrumental in
throwing gloom over the market, and at the close of the
month a further extension of short-time during the interval
should
,
before
cotton would be available seemed certain. There
inclination to take a rather pessimistic view of the
immediate future, but it was at the same time admitted that
an abundant supply of cotton in the new season, with conse¬
was
new
an
quent more reasonable prices, would work greatly to the
benefit of trade.
While a fair miscellaneous business was
done for the various smaller Continental markets and for
South America, apathy characterized the demand from lead¬
ing
Eastern outlets.
The
monsoon
in
India,
however,
started off well, rains up to the close of June having been
full and general, and this was looked upon as encouraging
expectations of a large trade in cloth from that quarter
toward the close of the current calendar year.
Home trade
was dull.
Altogether, manufacturers lost ground during
the month and experienced dificulty in keeping looms going,
upon a curtailed basis of operations.
Exports of yarns
goods from Great Britain in execution of orders booked
earlier in the season were moderately heavier than for the
same period of 1909, this June’s total having been 115/482,000 lbs., against 103,658,000 lbs.
Consumption was upon
the same weekly basis as in May.
Liverpool.—Prices for
American cotton were quite well maintained during June,
notwithstanding the better crop reports, but sales were
smallMiddlings uplands opened the month at 7.95d., and
by the 10th had advanced to 8.23d. Subsequent to thit
date the trend was generally downward, although not stead¬
ily so, a decline to 8.Old. by the 18th being foil owed by a re¬
covery to S.lld. on the 22d.
By the 29th, however, the
price had fallen to 7.76d., from which level there was a rise
of 9 points on the 30th, making the close 7.85d.
JULY.—Manchester.—On the w7hole, business in the cottomgoods market was unsatisfactory during July, although
the fact that considerable inquiry was in evidence was
taken as an ecnouraging feature.
Many looms and spindles
: were idle and it was claimed that spinners,
at least, had
reached the point where there was no financial advantage in
loperating their machinery. Rumors current that the Fed; oration wrould at their annual
meeting propose drastic cur¬
tailment were proven unfounded, as nothing in that direction
was done beyond the passing of a resolution of general en¬
couragement to reduction of output. Practically the most
\
important happening of the month was the agreement
reached July 15 between the representatives of the Federa¬
tion and of the operatives to continue the existing wage scale
I for a period of five years. It was further arranged to amend
I the Brooklands agreement so as to make two years instead
of one the minimum period to elapse without a change in the
rate of wages.
The subject of increased cotton supplies
j was also a question prominently in mind during the month,
land possibilities of developing cultivation were discussed.
Moreover, a deputation from Lancashire waited upon Lord
Morley with suggestions of the desirability of improvement
in quality and quantity of East Indian cotton.
As regards
cloth transactions for the month, it is to be stated that a
even
and
Sept. 10 1910. |
THE CHRONICLE
great many small orders were booked where large ones were
customary, prices ruling in markets abroad acting as a de¬
terrent to free purchases.
News from India was good, but
bujdng was .light. Financial difficulties in China again in¬
terfered with transactions for that direction, even though
stocks had appreciably diminished.
Buying from other
quarters was generally of a cautious nature, with the most
regular support to the market furnished by the home and
Colonial trades.
Yarns and goods exports from Great
Britain reached 127,080,000 lb3., against 133,899,000 lbs.
in July 1909.
Weekly rate of consumption in Great Britain
reduced to 55,000 bales, but Continent unchanged.
Liver¬
pool.—There was no especial feature to the market for
the raw material, except that it followed the course, of de¬
velopments in the United States. Middling uplands opened
the month at 7.86d., advanced to 7.95d. on the 6th and to
7.99d. on the 9th, receding from that level to 7.87d. on the
13th.
Thereafter the trend was toward a higher level, but
not without setbacks.
In fact, a rise to 8.15d. on the 18th
was followed by a drop to 7.97d. on the 22d, an advance to
8.02d. on the 25th, a recession to 7.95d. on the 27th and a
final uplift to 8.16d. at the close.
AUGUST.—Manchester.—The demand for cotton goods
1906-78
rather better at the opening of the month, resulting
somewhat larger volume of transactions, particularly
was
a
in
in
light-weight goods for India. It is to be noted, moreover,
that dealings were upon a little higher basis of value than
had previously prevailed.
At the same time inquiry for
China was quiet throughout and the aggregate of trans¬
actions much below the normal.
On the other hand,
however, orders for South America and Mediterranean
points were fairly large, and the home trade absorption
about up to the average for the season.
Yarns were also in
better request, but the firmness with which prices were
maintained tended to check operations. Still a large thread¬
manufacturing corporation was reported to have placed
orders for 15,000,000 pounds of Egyptian yarns.
As
regards the operation of the mills, the developments of the
month, while encouraging on the whole, were nevertheless
not sufficiently so to cause any appreciable departure from
the policy of curtailment that had been in force in previous
months.
some
Towards the close of the month demand showed
slackening, but prices were quite firmly maintained.
Liverpool.—The market for the raw material presented no
special features during August. The first few days the
dealings were fairly large, but thereafter and continuing to
the close demand was light.
Middling uplands ruled at
8.17d. on the 2nd and after dropping to 8.07d. on the 5th,
advanced rather sharply to 8.40d. by the 9th.
From that
level there was a drop to 8.28d. on the 15th, a
recovery to
8.39d. on the 18th and a recession to 8.26d. the
following
day. A reaction then occurred carrying the quotation up
to 8.39d. on the 23rd, but by the 26th the
price had fallen
to 8.14d., recovering to 8.20d. on the 29th, but declined
again on the 30th and 31st. The close was at 7.98d., which
compares with 6.85d. at the end of the previous season, or
an advance for the
year of 1.13d.
We now give a compilation which covers the
figures of
consumption in detail for each of the principal countries
embraced in the statement of the world's annual
consump¬
tion
already presented, and the total of all. These figures
are not the
takings of the mills, but the actual consumption,
and are in all cases expressed in hales
of 500 pounds. The
figures in the table cover the years from 1884-85 to 1909-10,
Europe.
600-lb.bales
OOOsomlUed
United States.
5
£
■g
ll
3
<0
»
1884-45
1885-86...
•0
Total.
•
1
£
£
|
3Q
8
CQ
«i
o
i
1888-89...
1889-90...
[ fAv. 6 y’ra
2,986
3,002
5,988
1,564
377
1,941
607
1890-91
3,884
3,181
2,866
8,233
3,250
3.276
3,681
3,619
3,661
3,827
4,030
7,015
6.800
1.810
4,160
7,060
7,280
7.436
1,944
1,872
1,593
1,940
1,711
557
632
679
671
803
861
2,367
2,576
2,551
2,264
2,743
2,572
924
914
918
959
1,074
1,105
99
150
200
192
286
363
106
125
195
105
160
129
3,198
3,821
7,019
1,812
700
2,512
983
215
120 10,849
3,224
3,432
3.519
3,334
3,?69
3,253
4,368
4,628
4,784
7,592
8,060
8,303
7,910
7.845
8,089
1,776
1,808
2,244
2,355
2.150
962
2,738
2,962
3,553
3,856
3,727
4,037
1,004
414
534
703
132
191
142
157
152
179
1887-88...
...
1891-92...
1892-93...
1893-94...
1894-95...
1895-96...
Av. 6
1S96-97
y’rs
...
1897-98...
1898-99...
1899-00...
1900-01
1901-02...
...
Av. 6 y’rs
1902-03...
1903-04...
1904-05
1905-06
...
...
...
...
3,339
3,185
3.017
3,620
3,774
3,892
3,690
5,350
6,674
5,867
6,110
241
310
361
8,266 6,272
3,432 6,659
1,286
1,512
1,678
1,624
1,704
1,682
400
444
503
2,148
2,185
i$a
2,912
3.037
4,576
4,576
4,836
4,628
6,527
7,967
5,148 8,333
5,148 8,165
5,148 8,768
5,252 9,026
ks
9,352
9.410
2,207
2,089
2,048
2,001
2,194
2.440
2,575
2,093
1,154
1,309
1,501
1,577
1,830
1.389
1,967
1,907
2,116
2.288
2.375
2,134
Av.6 y’rs
3,529
5,313
8,842
2,225
2,131
1908-09*..
3,720
1909-10*..
3,320
5,720
5,460
9,440
8,780
2,448
2,263
2,464
X-
va
euuruuipuuu
2,267
1,527
1,822
1,939
2.024
3,478
4,015
3,908
4,310
4,726
4,950
4,227
791
100
120
130
140
150
160
7,444
8,120
8,505
8,891
9,267
9,795
134
8,670
1,141
1.314
1,139
711
1,060
632
1,384
726
1.174
1.364
1,368
1,474
1,586
1,552
1,561
620
567
693
755
874
907
891
10,511
10,565
10.291
10.580
11,543
11,605
11.880
12,888
14,015
13,773
13,416
14.415
159 13,398
199 14,478
176 14.310
306 15,612
223 16,435
218 16,979
187 16.276
4,356
L484
781
218 15,682
4,912
4,533
1,653
1,600
881
860
268 17.154
UUQ
changed slightly by Mr. Ellison in his October annual.
467
604
669
617
697
Another general table which we have compiled of late years
is needed in connection with the foregoing to furnish a com¬
prehensive idea of the extent and the expansion of this
industry. It discloses the world’s cotton supply and the
The special points we have sought to illus¬
sources of it.
trate by the statements are, first, the relative contribution
to the world’s raw material by the United States and
by
other sources, and, second, to follow its distribution.
Be¬
ginning with 1896-97, the figures of visible supply include
Alexandria and Bombay stocks.
1906-7
WORLD’S SUPPLY AND DISTRIBUTION OF COTTON.
Visible
and
500-lb.
bales.
Crops.
Balance oj
Invisible
Total
Actual.
Supply
United
States.
Begin¬
ning of
AU
Others.
ja rut
1884-85...
1885-86...
1886-87...
1887-88...
1888-89...
1889-90...
Supply.
X CUT.
Ui
Consump-
Total.
tion.
Year.
In¬
visible.
Visible.
5,136,000
5,984,000
5,960,000
6,400,000
6,463,000
6,820,000
1,550,000
1,343,000
1,441,000
1,473,000
1,291,000
1,119,000
2,101,000
2,234,000
2,577,000
2,309,000
2,632,000
7,237,000
8,218,000
8,537,000
8,709,000
9,095,000
2,933,000 9,753,000
7,444,000
8,120,000
8,505,000
8,891,000
9,267,000
9,795,000
984,000
968,000
999,000
772,000
682,000
846,000
359,000
473,000
474.000
519,000
437,000
231,000
Average
6,127,000 2,464,000 8,591,000 8,670,000
6 years.
1890-91...
1891-92...
1892-93...
1893-94...
1894-95...
1895-96...
1,077,000 8,137,000 3,039,000 11,176,000 10,511,000 1,315,000 427,000
1,742,000 8,640,000 3,001,000 11,641,000 10,565,000 2,310,000 508,000
2,818,000 6,435,000 3,296,000 r9,731,000 10,291,000 1,903,000 355,000
2,258,000 7,136,000 3,314,000 10,450,000 10,580,000 1,792,000 336,000
2,128,000 9,640,000 2,978,000 12,618,000 11,543,000 2,185,000 1,018,000
3,203,000 6,912,000 3,421,000 10,333,000 11,605,000 1,231,000 700,000
Average
6 years
7,817,000 3,175,000 10,992,000 10,849,000
.
1896-97...
1897-98._.
1898-99...
1899-00...
1900-01...
1901-02...
Average
6 years.
1,931,000
1,923,636
3,241,158
3,999,364
2,456,489
2,673,027
8,435,868 B,438,000 1,873,868
10.890,000 3,316,290 4,206,290
11,078,000 3,694,934 4,772,934
9,137,000 3,092,897 2,229,897
10,218,000 3,414,454 3.632,454
10,380,380 4,033,569 14,413,949
1902-03...
1903-04...
1904-05...
1905-06...
2,672,068
2,921,061
2.770,244
5,102,633
4,318,938
5,954,206
10,511,020 4,215,667 14,726,687 14,477,694 1,177,677 1,743,384
9,841,671 (4,317,670 14,159,341 14,310,158 1,085,237 1,735,007
13,420,056 4,524.000 17.944,056 L5,811,667 2,501,469 2,601,164
...
1907-08...
be
628,000
12,888,768 1,905,158 1,336,000
14,014,728 i,371,364
13,772,772 1.071,489
13,415,916 1,549,027
14,414,908 1,306,068
1,628,000
1,385,000
1,124,000
1,366,000
11,002,904 (4,648,629 15,651,533 16,435.228 1,702,485 2,616,453
13,306,846 5,307,320 18,614,166 16,978,898 2,215,497 3,738,709
11,257,538 4,218,104 15,475,642 16,276,072 1,600,104 3,553,672
11.556,672 4,538.565 16,095,237 15,681,619
6 years.
1908-09...
1909-10...
11,880,332 1,295,636
10,023,207 3,498,358 sl3,521,565 13,397,911
Average
5,153,776 13.551,890 4.449.169 18.041,059 17,154.087 1,875,140 4.165,608
6,040,748 10,310,168 6J029.000 15,339,168 15,985,490 1.J67.624 1,026.802
To Illustrate the
as follows:
preceding, take the last
season,
1909-10, and the results would
Supply—Visible and Invisible stock beginning of year
Total crop during year
bales. 6,040.748
15,339,168
Total supply—bales of 500 lbs._
Distribution—Total consumption, &c
Leaving visible stock
Leaving Invisible stock
21,379,916
15,985,490
1 367.621
.4,026,802
Total visible and Invisible stock at end of year
5,394,426
Overland and Crop Movement.
OVERLAND.—There has been a very decided decrease
in the volume of cotton carried overland the past year.
It is
natural that, with the crop showing an appreciable
loss,
there should be a decline in the amount carried by the over¬
land routes; but the falling off this year has been propor¬
tionately much heavier than the diminution in yield. That
preceding season’s overland
compared with a loss in the
crop of 3,177,885 bales, or only 22.98%.
Stated in another
way, the movement of cotton to Northern mills, or to ports
outside the cotton belt this season, by the all-rail routes
aggregated only 10.8% of the total crop, against a per¬
centage of 11.8 in 1908-09. Furthermore, it is to be noted
is to say, the decrease from the
is 471,745 bales, or 29.03%, as
that the volume of cotton moved overland has been
smaller in the season which has just closed than in
any year
since 1884-85, when the crop reached but 5,669,021
bales,
over ten millions in 1909-10.
So far as the
1909-10 overland movement is concerned, the d crease re¬
corded is quite generally shared in and in some casts the losses
against
2,746
2,902
2,966
3,073
3,016
3,227
..
1886-8?...
629
are
a
yield of
conspicuously heavy.
The movement to the Pacific has
also fallen off, this being due to the fact .that Japan has taken
a much smaller amount of cotton from the United States than
in the previous year.
To indicate the relation the gross
overland movement bears to the total
yield in each of the
last twenty years, we append the following:
Crop of—
Total Yield.
Gross
Overland.
Pales.
Bales.
Increase
or
Of Crop.
1909-10
10,650,961
1,154,642
1908-09
13,828,846
11,581,329
1,626,387
1.177.031
1,705,152
1,234,641
1.569,870
1,120,993
1,438,268
1,675,042
1,767.646
1907-08
1906-07
1905-06
1904-05
13,550,760
11,319,860
18.556,841
10.125.176
10,758,326
1903-04
1902-03
1901-02
1900-01.
10,701,453
10,425,141
9.430.559
11.235,383
1899-00
1898-99
1897-98
1896-97
1895-96
1894-95
1893-94
1892-93
*
11,180,960
8,714,011
7,162,473
9,802,766
7,527,21)
6,717.142
mm
222,15,985
Change from
season
1,790.238
2,057,024
1.896,011
1,282,211
1,190,209
1,867,104
1,253,856
1.200.512
1,800,482
1,666,145
of ’90-’91 to ’09 TO.
Per Cent.
Decrease.
Of Overland.
Percent.
Decrease 22.98
Increase 19.40
Dr crease 14.53
Increase 20.41
Decrease 16.51
Increase 33.89
Decrease
6.07
Increase
0.53
Increase
2.64
Increase 10.44
Decrease 15.99
Decrease 29.03
Increase 38.07
D< crease 30.96
Increase 38.11
Decrease 21.35
Increase 40.07
Increase
Decrease 22.06
Decrease 14.19
Decrease
Decrease
Decrease
$.49
1.28
12.93
7.83
47.90
Increase
0.48
28.31
Increase
Increase
Increase
Decrease
Increase
Increase
Decrease
Increase
Increase
21.66
27.60
31.43
12.06
25.68
4.48
18.35
Increase
7.72
Decrease 36.25
Increase 48.64
Decrease
2.84
Increase
23.05
Decrease 30.67
Decrease 28.32
Increase
Increase
8.06
16.58
THE CHRONICLE
630
In determining this year the portion of the crop forwarded
by each of the different overland routes, we have followed
usual methods—
First—Of counting each bale of cotton at the
our
outport where it first appears.
Second—Of deducting from
overland all cotton
shipped by rail from Southern outports to the North.
Third—Of deducting also from overland any amounts
taken from Southern outports for Southern consumption.
Fourth—Of deducting likewise arrivals by railroads at
New York, Boston, Baltimore and Philadelphia, all of
which have been counted in the receipts from week to week
during the year.
With these explanations, nothing further is needed to
make plain the following statement of the movement over¬
land for the year ending Aug. 31 1910.
1907-08.
1908-09.
To foreign ports—Upland.
To foreign ports—Sea Isl’d.
To coastwise ports—
Exported
114,802
1,058
82,969
97,978
18,894
115,880
17,145
1,376
2,674
coastwise—
From Georgetown, &c.
Stock at close of year—
Upland
240
53—
Sea Island
Deduct—
Upland
480,160
686,465
307,305
30,693
85,817
50,227
194,525
271,355
232.657
37,356
58,519
53,976
109,322
205,941
148,427
105,634
111,940
68,880
31,136
20.697
22,298
9,811
11,316
18,012
31,185
7,586
10,590
5,225
1,613
10,275
29,907
8,221
25,419
10,636
2,491
337,936
320,535
265,741
816,706 1,305,852
912,190
141,727
*82,671
3
268
Total to be deducted.
8,244
a This total Includes shipments to Canada by rail, which during 1909-10
amounted to 110,772 bales, and are deducted In the statement of consump¬
tion.
• Includes foreign cotton consumed at the South.
CROP DETAILS.—We now proceed to
of the entire crop for two years.
give the details
LOUISIANA
*
Upland
Total movement for year
6,439
213.248
230,104
*
Included In this Item are 9,811 bales, theamount taken by local mills
and shipped to Interior; all of which Is deducted In overland.
CAROLINA.
Exported from Wilmington:
To foreign ports
-1908-09-
river and rail *
Manufactured *
Burnt
Stock at close of year...
Deduct—
Received from Mobile
Received from N. Y., &c._
Received from Liverpool, &c
Stock beginning of year
158—
23,436—1,381,683
39,571—2,134,796
25,215
14,384
373
286
54
66,355
-
26,840—
1,315,328
41,564
2,093,232
*
1909-10
FLORIDA,
1908-09
Exported from Pensacola, &c.: *
To foreign ports
152,971
To coastwise ports a
Stock at close of year
Deduct—
Received from Mobile
Stock beginning of year
51,384
39—
189,487
30,443
204,394
219,930
—
5,694
2,251
Total movement for year
2,741
490
5,694
—
217,189
198,700
Note.—Gulfport, Miss., Included above.
•
These figures represent this year, as heretofore, only the shipments
from the Florida outports.
Florida cotton has also gone Inland to Savannah,
&c., but we have followed our usual custom of counting that cotton at the
outports where it Jirst appears.
a Includes 11,739 bales shipped to the Interior and deducted In overland.
r—1908-09
6,739
591,021
36,641
596,771
To coastwise ports
Taken for manufacture
Stock end of year, Norfolk
Deduct—
Rec’d from Wilmington, &c
Rec’d from North Carolina
13,403
5,556
19,613
725
ports
Received at Newport News,
&c., from Norfolk, &c
Stock beginning of year
58,034
51,554
273—
10,883
8,473
6,796—
616,992
6,796-
84,443
659,564
55,453
3,174—
532,549
604,111
Includes 12,456 bales shipped to the Interior, which, with 5,556 bales
taken for manfuacture, are deducted In overland.
-1908-09-
1909-10
3,303,069
19,476
547,119
27,731—2,840.424
-1908-09-
Shipments—
To manufacturers direct—net
42,078
overland
To New York,
633,883
37,296—4,016,326
Boston,
816,706
1,305,852
141,727
148,427
&c.,
by rail
Total marketed from Tennes¬
255
see,
37,296—
37,551
41,763—
2,802,873
3,974,563
958,433
1909-10-
Except 81,754 bales deducted In overland, previously counted.
Below
-1908-09-
Bxported from Mobile: *
155,161
104,392
of the U. S. for
we
give the total
Receipts from New Orl.,&c_
Stock beginning of year
1,935
2,619-
4,554
2,619—
398,884
4
Total movement for year
4,969
255,665
4,973
393,911
*
Under the head of coastwise shipments from Mobile are Included 3,183
bales shipped Inland by rail for consumption, &c., which, with consumption,
are deducted In the overland movement.
1909-10_
-1908-09-
11,581,829
1906-07
13,550,760
1905-06
11,319,860
13,556,841
1904-05
1903-04
10,123,686
1902-03
10,758,326
1901-02...-.10,701,453
1900-01
10,425,141
1899-00
9,439,559
913,474
7,723
575,401
40,494
552,502
45,099
191,582
42.404
283.026
41,701
Through—
Texas
Louisiana
Alabama
15
1.890-
Georgia
20,765
1,890—1,866,180
20,852
-
36,203
906—
1,594,731
shipped Inland and taken for consumption
22,660
1,843,520
are
....
a
South Carolina
Virginia
North Carolina
Tennessee, &c_
902
20,765
since 1878:
Bales
7 ,017,707
6, 513,623
6 ,550,215
5 ,669,021
5 ,714,052
6 ,992,234
5 ,435 845
6 ,589,329
5 ,757,397
5 ,073,531
4 ,811.265
ending September 1 1910.
Year ending September 1 1909.
Movement
Exported from Brunswick, &c.:
13,548
year
Bates. \ Years.
for comparison.
Y ear
To coastwise ports—
7,106
1,834—1,630.934
1896-97
1895-96
1894-95
1893-94
1892-93
1891-92
1890-91
1889-90
1888-89
each
11,235,383 11887-88
11,180,960 1886-87
8,714,011 1885-86
7,162,473 1884-85
9,892,766 1883-84
7,527,211 1882-83
6,717,142 1881-82.
9,038,707 1880-81
8,655,518 1879-80
7,313,726 1878-79
6,935,082 1877-78
Weight of Bales.
bales and the gross weight of the
follows for this year, and give last
year
760,630
11,468
crop
Bales.10 650,961
The average weight of
crop we have made up as
GEORGIA.
Exported from Savannah:
To foreign ports—Upland.
To foreign ports—Sea Isl’d.
ending Sept. 1 1910
Bales. I Years.
10,650,961] 1898-99
1908-09.....13,828,846 11897-98
1907-08
260.219
year
Years.
1909-10
306,963
89,302
666—
1,454,279
Total product detailed In the foregoing by States for the year
ending September 1 1910
Bales 8,259,028
Consumed In the South, not Included
2,391,933
Total crop
ALABAMA.
To foreign ports
To coastwise ports.h
Burnt
Stock at close of year
Deduct—
&c.'*
41,763
shipped Inland for consumption deducted in overland
Total movement for year—.
&C.
1909-10-
TENNESSEE, &C.
Total movement for year....
Upland
461,269
370,645
shipments, 9,390 bales went Inland by rail from Wilmington
and, with local consumption, are deducted In overland.
*
Sea Island
4,545
•
Exported from Galveston, &c:
To
foreign ports
(except
Mexico)
.2,246,098
Upland
4,545—
Of these
Total movement for year
TEXAS
Sea Island.
Deduct—
Received from N. Y., &c.
Stock beginning of year—
573
Exp. from Newport News, &c.:
To foreign ports
deducted these two Items.
Burnt
Stock at close of year—
465,814
573-
To coastwise ports *
41
To Mexico from Galves¬
ton, Corp. Chrlstl, &c_
To coastwise ports-*4.
Stock at close of year.
Deduct—
Received at Port Arthur, &c.
from Galveston
Stock beginning of year
1 330
573—
1909-10
13,914
17,271
Total movement for year
In overland we hav
371,218
Deduct—
Exported from Norfolk:
To foreign ports
1,957,472
106,527
20,385
10,751
1,196
39,571-
403,209
9,148
51,554
298,595
12.505
58,034
1,926
To coastwise ports *
Coastwise from Washington,&c
Manufactured
Stock at close of year
1908-09
Exported from New Orleans:
To foreign ports
1,193,922
To coastwise ports
133,189
To Southern ports, &c., by
deducted
only 11 bales received at Savannah by water from the Florida
outports this season; but 24,000 bales from the Interior of Florida were
received at Savannah by rail.
4,122
2,317—
675
344—
Sea Island
VIRGINIA.
1909-10
In overland.
There were
4,297
3,278
Tutal movement for year
Charleston, Inland and local mills
North Carolina ports, Inland and local mills
Virginia ports, Inland and local mills
The amounts
219,687
Sea Island
Stock beginning of year—
Stock beginning of year
*
675
344—
1,154,642 1 i626,387 1,177,931
Total gross overland
Dedut shipments—
Overland to New York, Boston, &c
Between Interior towns, &c
Galveston, Inland and local mills.
New Orleans, Inland and local mills
Mobile, Inland and local mills
Savannah, Inland and local mills
*
Includes 268 bales
movement.
234,401
1909-10-
464,064
186,123
19,915
135,674
48,792
150,288
149,786
bales.
Via Virginia points
Via other routes..
*
-1908-09-
1909-10
Exported from Charleston:
NORTH
Amount shipped—
Via St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
LXXXXJ
SOUTH CAROLINA.
_
Southern
gross
1909-10.
[VOL
Total crop..
a
Number
Weight in
of Bales.
Pounds.
Aver.
W ghl.
2,802,873 1,457,970,448 520.17
1,315,328
673,447,936 512.00
255,665
131,028,312 512.50
1,793,431
901,432,224 502.63
230,104
114,002,725 495.44
532,549
264,357,324 496.40
370,645
182,653,856 492.80
3,350,366 1,675,115,993 499.98
Number
Weight in
oj Bales.
Pounds.
3,974,563
2,093,232
393,911
2,060,709
213,248
604,111
461,269
4,027,803
Aver.
Wght.
531.49
519.83
521.67
503.96
105,557,760 495.00
296,618,501 491.00
228,554,177 495.49
2,040,444,722 506.59
2,112,440.489
1,088,124,761
205.491,551
1,038,514,908
10,650,961 5,400,008,818 507.00 13,828,846 7,115,746,869 514.56
Including Florida.
According to the foregoing, the average gross weight per
bale this season was 507.00 lbs., against 514.56 lbs. in
1908-09, or 7.56 lbs. less than last year. Had, therefore, as
many pounds been, put into each bale as during the previous
a
Sept. 10
1910.]
THE CHRONICLE
season, the crop would have
bales.
The relation of the gross
years may
be
seen
aggregated only 10,494,420
weights this year to previous
from the following comparison.
Crop.
Average
Season of—
Wo. of
1909-10
1908-09
1907-08
1906-07
1905-06
1904-05
1903-04
1902-03
1901-02
1900-01
1899-00
1898-99
1897-98
1896-97
1895-96
1894-95
1893-94
1892-93
1891-92
1890-91
1889-90
...
Bales.
10,650,961
13,828,846
11,581,829
5,400,008,818
7,115,746,869
13,550,760
11,319.860
6,984,842,670
5,788,728,073
6,996,731,233
5,141,417,938
13.556.841
-
__
1888-89
1887-88
1886-87
1885-86
1884-85
1883-84
1882-83
1881-82
1880-81
1879-80
1878-79
1877-78
Weight, Pounds.
5,907,070,895
Weight,
per bale.
507.00
514.56
510.03
515.46
511.37
516.10
507.86
508.55
10,123,686
10,758,326
10.701,453
10,425,141
9.439,559
11,235,383
11.180,960
8,714,011
7,162,473
9,892,766
7.527.211
6,717,142
9,038.707
8,655,518
7,313,726
6.935,082
7,017,707
6,513,623
6,550,215
5,669.021
5,714,052
6,992,234
5.435,845
6,589 329
5,757,397
5,073.531
3,179.456,091
2,727,967,317
2,759.047,941
3,430.546,794
2,585,686,378
3,201,546,730
2,772.448,480
2,400,205,525
4.811 .265
498.78
499.84
496.13
495.66
485.35
486.02
485.40
481.21
482.86
490.60
475.62
485.88
481.55
473.08
2.309.908.907
480 1 5
5,471,1434*7
5,403,210,514
5,319,314,434
4,754,629.038
5,765,320,339
5,667,372,051
4,383,819.971
3.595,775.534
5.019,439,687
3,748,422,352
3.357,588,631
4,508,324,405
4,326,400,045
3,628,520,834
3,437,408.499
3 406,068,167
3,165,745,081
504.90
510.25
503.69
513.14
506.88
503.08
502.03
507.38
497.98
499.85
Export Movement of Cotton Goods from United States.
We give below a table compiled from the returns of ex¬
ports of cotton goods from the United States as reported
by the Bureau of Statistics. These figures are for the last
three fiscal years and are presented in a form which enables
the reader to see at a glance the variations from year
to year
in the volume of goods sent to the various
quarters of the
globe. It will be observed that the 1910 total, reaching
$33,397,097, is greater than that for 1909 by $1,518,531,
but is $8,219,339 larger than in 1908.
Years end
ing June 30.
To—
Europe...
EXPORTS OF COTTON MANUFACTURES.
1910
1909
1908
Total value.a
Total value.a.
Total value.a.
Yards.
$
Yards.
S
Yards.
$
5,513,773
1,601,938
5,342,233
1,513,429
10,183,474 2,698,919
7,788,617
1.845,636
Cent.Amer. 24,0 3,184
2.219.550 31,515,082 2.166.052
W. Indies. 53,127,846
4,067,672 64,259.701 4,310,464
So. Amer. 43,781.394
2,877,697 44,347,771 2.586.880
China
95,041,155 5,909,364 139,987,013 8,140.900
Oth.Asla&
Oceania. 18,461.934
1,743,580 34,856,816
2,607,946
Africa
9,< 85,194
665,539
9.902,186
655,548
All others. 50,623,350dl 1,612,838 29,632,123
d8,051,711
Canada
..
...
4.235,894
5,618,127
23,334,109
42,537.281
33,165,601
49,876.671
1,784,190
1.469.550
2,078,011
3.295,276
2,454,954
3,390,498
42.468.987 3,228,438
3,000,715
389.026
- 1.757,427 d7.087,815
Total ..309,911,304 33,397,097 367,631,542 31,878,566
205.994,812
a Includes values of manufactures not stated In
yards,
d Includes values of exports of yarn, waste, <fec.
25.177,758
New Crop and Its Marketing.
One fact with reference to the cotton
crop now maturing
is quite evident—as a whole it is less advanced than that of
1909-10 or of an average year.
It consequently follows
that it is what may be termed an
especially late one. But
whether the crop is early or late, there is very
little that can
be said at this stage of the season
bearing upon the probable
total yield.
A large area—no doubt a greater, in fact, than
ever before devoted to cotton—was
planted this
spring, but
inconclusive basis upon which to for¬
mulate ideas as to volume of production.
This cannot be
better illustrated than by
comparing the season just closed
with, say, 1897-98 and 1898-99. In those two years the
acreage from which the crops were secured was very much
less than in 1909-10 (over 45%
below, according to our in¬
vestigations), and yet the yield in each case exceeded that
of the latest completed season
by over three-quarters of a
million bales.
In fact, had the yield
per acre been as great
in 1909-10 as in either of the other two
years, the crop would
have totaled over 16 millions of
bales, instead of a scant 103^
millions.
A more apt illustration of the
futility of figuring
out production from acreage results alone could
hardly be
used.
No more is it possible to reach
any reliable conclu¬
sions thus early for the South as a whole from the
reports on
condition of the plant.
On Sept. 1 1903 condition of the
plant was not only better than on the same date in 1897 or
1898, but area was full 25% greater; yet the yield was smaller
by over a million of bales, due to the unpropitious fall and
early frost. These illustrations have no bearing upon
the crop now maturing, of
course, except in so far as they
enforce the idea that crop estimates made as
early as Sept. 1
are mere guesses,
subject to most radical change either way
later on.
area
by itself is
The
a very
growing
crop is, as we have already inferred, a back¬
maturity. That was the situation at the be¬
ginning of June, when we issued our annual acreage report,
and is true in the main now; but condition now
as then is
better than a year ago.
There has been complaint of
drought in the Southwest and of too much rain at times in
portions of the remainder of the cotton belt, but those con¬
ward
one as
ditions
were
to
relieved in great measure before there had been
important permanent injury to the plant. It seems to
take little to give a pessimistic turn to
reports coming up
any
from the South when weather conditions are
at all unpro¬
pitious. This has been a fact in the current season, ft is
unquestionably true that during July there
much rain
over a
considerable
area
was rather too
in the Atlantic and Gulf
631
regions, and in consequence crops were badly in the grass.
Inferentially, according to advices then current, the crop
prospect had suffered considerably. But with the interven¬
tion of more favorable weather in late July and
early August,
the reports noted a marked improvement in the
crop situa¬
tion in those localities.
On the other hand, drought and
hot weather were stated to be causing rapid deterioration of
the plant in Texas and Oklahoma, but rains since the first
of August have given a much more favorable turn to the ad¬
vices from those States.
As a matter of fact, the crop situation at the moment would
appear to be promising for a fairly good yield on the area
planted. Cotton, as is well known, continues to make until
killing frost comes, unless the vitality of the plant has been
largely exhausted by adverse conditions in the summer.
That being the case, the time of frost is an
important factor,
as well as that there should be
normally favorable weather
in the inteirm.
With frost late, many thousands of bales
may be added to the yield.
It has often been remarked how
much is made of any adverse conditions of weather at the
South in many of the reports that are circulated, and how
little the favorable developments are referred to.
a season
passes
that at
Hardly
time
some
or
other the crop is not put
down as more or less of a failure.
Latterly, there has been
less disposition to take a pessimistic view of the outlook.
And rightly so, as from almost every quarter
except a por¬
tion of Texas the week-to-week advices
during August have
noted improvement in condition and
consequently brighter
to ultimate yield. We, of course, merely state
the situation as it appears to us,
leaving to others to draw
prospects
as
their own conclusions.
On the acreage planted, the
pos¬
sibilities of yield range all the way from 10 to 17 million bales.
The data given below, considered in
conjunction with the
remarks above, should enable each reader to formulate for
himself some idea as to the crop
promise, making due allow¬
ance as the season
progresses for developments as they may
occur.
The subjoined compilation shows at a
glance for a
series of years the area, aggregate yield and
product per acre,
as made up
by us, and the condition
percentages August 25
reported by the Department of Agriculture:
as
Product
Area,
Yield,
Acres.
1910-11
1909-10
1908-09
1907-08
1906-07
1905-06
1904-05
1903-04
1902-03
As
we
35.379.358
33,862,406
33,512,112
33,079,425
31,557,242
28.808,415
32,363.690
28,995,784
27,300,371
bearing
upon
give
per acre.
Pounds.
Bales.
...
10,650,961
13,828,846
11,581,829
13.550.7ff0
11,319,860
13,556,841
10.123,686
10.758.326
153
203
170
211
192
207
170
192
Condition\
Aug. 25.
72.1
63.7
76.1
72.7
77.3
72.1
84.1
81.2
64.0
■
,
the comparative maturity of the plant,
our usual statement of the dates of arrival of
This year the earliest receipt was at Houston,
Texas, on June 23. Last year the first bale arrived at
Houston on June 27 and in 1908 Galveston received the
earliest bale on June 19.
In fact, for many years past, and
quite naturally so, the first bales have invariably been of
now
first bales.
Texas growth.
■
Date of Receipt of First Bale.
1904.
Virginia—
Norfolk..
Nor. Car.—
Charlotte
So.
Aug. 27
Aug.
Car.—
1905.
—
1906.
1907.
1908.
Aug. 30 Aug. 30 Aug.
1909.
1910.
7 Aug. 17 Aug. 25
Aug. 18 Aug. 28 Aug. 30 Aug. 15 Aug. 28
Charleston
Greenwood
Georgia—
Aug. 15 Aug. 5 Aug. 16 Aug. 23 Aug. 8 Aug. 9 Aug. 11
Aug. 27 Aug. 17 Aug. 27 Aug. 28 Aug. 19 Aug. 31
Augusta
Aug.
__
Savannah—
From Ga
From Fla
.
_
Columbus
Alabama—
Montgomery
.
Mobile
Selma
Louisiana—
3 July 31 Aug.
July 24 Aug.
Aug. 14 Aug.
Aug. 12 Aug.
_
_
Mississippi—
Vicksburg
,
Memphis
Texas—
Galveston
Houston
Oklahoma—
Ardmore
Guthrie
2 Aug.
—
Aug. 11 Aug. 11
3 Aug. 6 Aug. 21 Aug. 3 Aug. 7 Aug. 10
3 Aug. 16 Aug. 21 Aug. 3 Aug. 16 Aug. 14
7 Aug. 9 Aug. 20 Aug. 11 Aug. 12 Aug. 15
NewOrleans—
From M.Val Aug. 13 Aug. 20 Aug.
Shreveport... Aug. 9 Aug. 17
Columbus
Greenville
Arkansas—
Little Rock__
Helena
Tennessee—
7 Aug.
July 23 July 21 Aug. 2 July 23 July 18 July 27 Aug. 4
July 27 Aug. 8 Aug. 18 Aug. 19 Aug. 1 Aug. 7 Aug. 12
Aug. 23 Aug. 3
Aug. 4
9
_
_
__
Aug. 12 Aug.
Aug. 8 Aug.
7 Aug. 12
8
Aug. 25 Aug. 22 Aug. 25 Aug. 28 Aug. 22 Aug. 19 Aug. 25
Aug. — Aug. 25 Aug. 15 Aug. 28 Aug. 24 Aug. 24 Aug. 23
Aug. 26 Aug. 24 Aug. 16 Aug. 28 Aug, 21 Aug. 18 Aug.. 25
Aug. 31 Aug. 30 Aug. 27 Aug. 28 Aug. 19 Aug. 18 Aug. 18
Aug. 27 Aug. 29 Aug. 28 Aug. 27 Aug. 19 Aug. 24
Aug. 25 Aug. 24 Aug. 18 Aug. 22 Aug. 14 Aug. 19 Aug. 25
June 16 June 27 July
July 20 July
1 July
5 July
3 June 19 June 28 July 10
6 June 21 June 21 June 27 June 23
Aug. 17 Aug. 28 Aug. 31
Aug. 26
Sept.
But first bales
in
June 21 Aug. 14
2
Aug. 26
conclusive indicator of
maturity, as has frequently been demonstrated in the past.
The aggregate arrivals of new cotton to
September 1st, how¬
ever, do as a rule furnish a pretty reliable basis from which
are
no
sense
a
to
judge of the forwardness or backwardness of the crop as
compared with other years. We have said above that this
year the crop is less well advanced in maturity now than at
this date last year; but there has been an
especial incentive
in the ruling price of cotton to rush forward
supplies, and
the remark, therefore, does not find substantiation in the
figures of the movement thus far at leading ports and in¬
terior towns.
has been,
The heaviest movement of
new
cotton this
is Usual, to1 Galveston (125,923 bales),
and Savannah has received 2,234 bales.
The total receipts
at the points included in the subjoined
compilation were
year
as
THE CHRONICLE
633
134,020 bales, against 74,975 bales in 1909, 110,928 bales in
1908, 31,421 bales in 1907, 112,143 bales in 1906, 97,256
bales in 1905, 89,347 bales in 1904, only 1,773 bales in
1903, 116,578 bales in 1902, 53,628 bales in 1901, 27,870bales
in 1900, 98,695 bales in 1899 and 33,056 bales in 1898.
The
high record movement to Sept. 1 was in 1896—194,777 bales.
ARRIVALS OP NEW COTTON TO SEPTEMBER 1.
1904.
Charlotte, N. C
Wilmington, N. C
Charleston, S. C
1905.
20
38
Columbia, S. C
—
Augusta, Ga
Savannah, Ga
—
1906.
20
468
700
£325
■
^
Montgomery, Ala
Mobile, Ala...
496
a400
934
840
841
2,083
243
2,000
Selma, Ala
Eufaula, Ala
New Orleans, La
Shreveport, La
Vicksburg. Miss
Columbus, Miss
Little Rock, Ark
Memphis, Term
Galveston, Texas
alO
9
40
kin
1,741
1,434
604
«50
80
36
975
458
40
333
1,139
2,886
O500
1
1,443
860
2,250
773
a200
5
150
30
20
2
30
99.887 28,501
89,441
1
2
7
13
64,090 47,862
2
.
3.62 1898-99
3.00 1897-98
1896-97
a.
3.38 1895-96
3.37 1894-95
2.62 1893-04
3.00 1892-93
3.00 1801-92
2.37 1890-91
2.37 1889-90
2.75 1888-89
1906-07
1905-06
1904-05
2,234
a50
175
97
90
al00
1909-04
1902-03
1801-02
1900-01
1899-00
4,954
LOW.
Pts.
i.94
CtS.
2.75
2.62
2.62
3.06
2.88
3.00
4.06
3.50
3.31
3.75
Cts.
1907-08
Data
report:
High.
Low.
Cts.
4.25
1909-10
355
270
98
400
300
320
al00
5
2
10
13
a200,
covering
series of
years.
The first statement shows the highest and lowest
quotations for 64 squares 28-inch printing cloth, the standard
in that description of
goods, at Fall River in each of the last
1908-09
30
fll
329
3,036
ol.OOO
14,174 23,792
a200
o300
596
62
8
5
1
6
4
6
2
x
Prices of Cotton and Cotton Goods.
To complete the record, we subjoin compilations
the prices of printing cloth and raw cotton for a
High.
1
428
415
5
3
1
22
a50
LXXXXI.
twenty-two seasons—1888-89 to 1909-10, inclusive.
for earlier years will be found in
previous issues of this
1910.
1909.
1908.
1
ll
1,166 12,766
17,691 24.483
800 2,206
1,466 3,975
Columbus, Ga
1907.
1
[VOL.
1.94
2.44
2.44
2.50
2.61
2.87
2.75
2.88
3.25
3.75
4.06
It will be observed that while printing cloths reached a
higher level of value in 1909-10 than in 1908-09 they were
lower than in either 1907-08 or 1906-07-years when the raw
material ruled at a much lower level.
Consequently the
21
1
1
10
4
45,425*125,923
margin of profit has not been
satisfactory as in those years,
preceding years. Notwithstanding the reduced profit in operating the mills, however,
the manufacturers have failed to take advantage of their
right under the automatic scale to cut down wages.
Sea Island Crop and Consumption.
As regards the raw material, the season opened on a much
We have continued throughout the season 1909-10 the
higher
plane than at the beginning of the preceding year,
compilation of a weekly record of the Sea Island crop; but and ruled
so throughout.
Explanation of this fact, however,
on account of the pressure of other matters
upon our columns is not to be found
entirely
in any legitimate conditions of
have been able to publish the statement only rarely.
The
The shortness of the new supply as
results as now given below agree substantially, however, supply and demand.
with the prospective requirements for consump¬
with our running count.
It will be noticed that the crop of compared
tion would naturally cause some advance in values, but not
1909-10 shows a decrease from that of 1908-09.
Total
all
ports
September 1
to
89,347 97.256 112,143 31,421 110,928 74.975134,020
a Estimated;
no
returns received,
b Newberry. S. C.
c Meridian.
d Natchez,
x Greenwood. S. C.
nor
in fact
as
in
a
as
number of
"
to
an extent that has been seen in the season of 1909-10.
More than any legitimate influence, manipulation has been
the lever that has lifted cotton to a higher average level than
has been witnessed since 1874-75 and has coincidently
FLORIDA.
1909-10
1908-00
Receipts at Savannah
bales.13,925
Receipts at New York, &c
16,387
14,791
27,335
Total Sea Island crop of Florida
42,126
30,312
GEORGIA.
1909-10
1908-09
Receipts at Savannah
bales.51,906
Receipts at Brunswick, &c
—51,906
53,806
Receipts from Florida
14,791
—53,806
Deduct—
13,925
682—14,607
Receipts from Charleston, 4tc.
Total Sea Island crop of Georgia
62—14,853
37,299
38,953
SOUTH CAROLINA.
Receipts at Charleston.,,,
Receipts at Beaufort, Ac
Deduct—
14.497
15,172
—14,497
—15,172
,
Receipts from Savannah
Total Sea Island crop of So. Car.
14,497
15,172
Total Sea Island crop of U. S__
82,108
96,251
The distribution of the crop has been as follows:
Supply year ending
Sept. 1 1910.
j
How
Distributed.
Of which
' Exported to—
Ports of—
Net
Sept. 1
1909.
South Carolina
Crop. supply
14,497 14,947
1,89(7 37,299 39,189
30,312 30,812
Florida
New York
Boston
Baltimore,
Total
,
Stock Leav’g '
Seal. 1 fordis- Great Havre,
1910. trib’n. Brit’n.
&c.
450
Georgia
53 14,894
20 1,058
1,410 11,418
9,288
2,013
2,397
2,734 12,022
2,013
520
2,917
1,887 82,561 24,744
4,684 29,428
—
30,312
1
&c
2,340 82.108 84,448
Ex¬
ports.
1,038
10,008
1,83? 37,355
1
Total
Total
For'gn
Stock
From the foregoing we see that the total growth of Sea
Island this year is 82,108 bales, and with the stock at the
beginning pf the year (2,340 bales)
the total supply and distribution:
we
have the following
as
This year’s crop
Stock September 1 1909.
Total
bales.82,108
2,340
year’s supply
Distributed
as
bales.84,448
follows—
’’
Exported to foreign ports..
bales.29,428
1,887—31,315
Stock end of year
Leaving for consumption In United States
bales.53,133
We thus reach the conclusion that our spinners have taken
of Sea Island cotton this year 53,133 bales, or 18,093 bales
less than in the previous year.
The following useful table shows the crops and movement
of Sea Island for the seasons 1895-96 to 1909-10 in detail:
r—
Crop.
Season.
Flor-
Georgia
Ida.
1909-10. 30,312
1908-09. 42,126
1908-09. 42,126
1907-08. 41,863
1906-07. 23,411
1905-06. 30,378
1904-05. 37,873
1903-04. 28,005
1902-03.
1901-021900-01.
27,686
1898-99.
21,323
24,793
29,376
21,275
1897.98.
24.468
1899.00.
1&96-97. 25,927
1895-96.
a
South
Caro.
Una.
Texas,
.
-
-
_
_
-
-
-
-
_
_
lO.OlOj
Total.
&c.
37,299 14,497
38,953 15,172
38,953 15,172 ....:
27,008 12,738
24,653
8,044
72,872 13,712
49,696 12,094
39,345
9,359
62,451 12,497
48 ,.588
8,760
52,953
8,369
60,369
7,810
40,306
5,623 ....4
41,440 10.211
64,906 11,039 1,644
21,664 60,522
'
Foreign Exports.
991
82,108 1
96,251 j
96,251 |
81.6Q£
56,105
116,962
09,665 !
76,701
102,634
78,621
86,111
97,55!
07,204
76,lit
103,51t
93,187
Great
Conti-
Britain.
nent.
24,744
18,241;
22.748
15,2001
30,034
30,832
24,188
4,684
7,567
7,567
9.635
5,28?
9,225
7,570
7.132
44,354
0,728j
25,423
26,453
38,279
26,451
33.303
47,758
6,450
5,535
8,007
9,015
8,827
10,673
42.391
7,672
18,241
Total
Exports.
Consumptlon. a
29,428
25308
25,808
32,383
20,489
39.262
38,402
31,320
54,082
31,873
31,988
46,286
35,466
42,130
-58,431
50,063
53,133
71,326
71,826
46,718
36.101
The column of “American Consumption” in this table includes burnt
United States.
Ameri-
78,923
62,556
43,578
50,524
43,650
55,422
49,643
38,654
34,140
40.670
40,530
operated to depress in cotton goods the world over. The
opening quotation for middling uplands in the New York
market was 12.70c., from which level there was a decline to
12.40c, Sept, 13th., this proving to be the lowest of the year.
An advance then set in which carried the price to 13.30c. at
the close of the month, and the upward movement continued
with but slight interruption throughout October, the final
quotation of that montn having been 15.05c. Fluctuations
during November were frequent, the general tendency being
downward after the 2d, when 15.20c. was reached, the
dosing price having been 14.55c. During December the
Agricultural Department’s estimate of a crop of only about
10,000,000 bales was a potent influence in assisting the forcing
up of values.
In fact a very material advance was witnessed,
middling uplands opening the month at 14.65c. and closing
at 16.10c., after having been quoted at 16.15c. on the 30th.
The year 1910 started off with middling
uplands ruling at
16.10c., from which level, with demand restricted on account
of curtailed production, there was a decided decline, the
quotation on Jan. 18 being 13.85c., followed by a recovery
to 14.75c. near the close.
Fluctuations during the remainder
of the winter and early spring, although frequent, gave no
important net change in price. February opened at 14.70c.,
ranged between 14.10 and 15.25 and closed at 14.95c. The
initial price in March was 14.85c., the range 14.65 to 15.35
and the final 15.10c,and April opened at 14.95c.and closed
at 15.25c., after fluctuating between 14.55 and 15.30c.
An
upward turn in early May carried the quotation up to 16.05c.
on the 13th, after which there was a recession to 14.50c.
During June crop advices were an influence in the market,
and on unfavorable reports quotations advanced to 15.35c.
at the close.
The Agricultural Department’s report of
July 1 came about as anticipated and was, therefore, practi¬
cally a negative factor in the market; but toward the middle
of the month the quotation advanced materially on manipu¬
lation in connection with the covering of July contracts,
middling uplands reaching the high point of the season up to
that time (16.45c.) on the 18th.
From that level there was a
decline to 15.25c. at the close of the month.
since 1877-78.
High.
LOW.
Average I
c.
c.
c.
1900-10. .19.75
1908-09. .13.15
1907-06- .13.55
1906-07. .13.55
1905-06. .12.60
1904-05. .11.50
12.40
9.00
9.50
0.60
14.97
10.42
11.28
1903-04. .17.25
1902-03. .13.50
1901-02.
9H
-
1900-01- .12
1899-00. -10K
6K
1898-99.
7 13-16
1897-98.
1896-97.
8K
9 H
1895-96.
8 3-16
1894-95.
-
.
-
In the
Fluctuations
frequent during August, resulting in a net gain of 450
points. The market closed on Aug. 31 at 17.50c., the ex¬
tremes for the season having been 12.40c.(Sept.13) and 19.75c.
(Aug. 29), with the average 14.97c., or 4.55c. above that
for 1908-09, 3.69c. higher than in 1907-08, and in fact
higher than in any year from 1875-76 to 1908-09, inclusive.
To indicate how the prices for 1909-10 compare with those
for earlier years, we have compiled from our records the fol¬
lowing, which shows the highest, lowest and average prices
of middling uplands in the New York market for each season
were
-
.
High.
Low.
c.
c.
[1893-94.. 8 9-16
|1892-93..10
c.
7 11-16
7 1-16
8 7-16
1891-92.. 8 18-16
6 11-16
7H
7 15-16
1890-91..11
9 K
1889-90.-12 J4
11 5-16
10M
11.48
11.20
9.13
1888-89..11K
12.58
1887-88..11K
8.80
10.26
1886-87..11 7-16
7 13-16
9 3-16
1885-86..10K
8
9*
! 1884-85..11K
6 H
9K
1883-84..11 15-16
5 5-16
6 1-16
1882-83..12K
6 3-16
5*
1881-82..13 1-16
7 1-16
7 11-16 1880-81..13
7 1-16
8K
1879-80--13 7-16
6 9-16
6 7-16
1878-79.-13M
9.85
6.85
0.50
6K
Average.
OH
9 7-16
9K
8 13-16
944
10*
10
UK
10 7-16
10K
10 7-16
10 5-16
10
9 K
10 11-16
11
10 54
12 1-16
UK
12 1-16
8 13-16 10 13-16
Sept. 10
1910.)
THE CHRONICLE
ITEMS ABOUT
Movement of Cotton at Interior Ports.
Below
give the total receipts and shipments of cotton
ports and the stock on the first of September
we
at the interior
of each year:
BANKS, BANKERS AND TRUST GO’S.
public sales of bank stocks this week aggregate
52 shares, of which 49 shares were sold at the Stock
Exchange
and 3 shares at auction.
Of trust company stocks, one lot
—The
of 2 shares
11910.
Year ending Sept.
Shtpm’ts.
Receipts.
Eufaula, Ala
18,500
120,573
101,764
57,773
180,371
23,726
106,734
137,851
360,918
56,750
53,421
43,361
12,533
91,708
33,644
Montgomery, Ala.
Selma, Ala
Helena, Ark
,
Little Rock, Ark.
Albany, (la
Athens, Ga
;
Atlanta, Ga
Augusta, Ga
Columbus, Ga
j
Macon, Ga
Rome, Ga
Louisv., Ky., net.,
Shreveport, La.^
Columbus, Miss..,
Greenville. Miss..
Greenwood, Miss.,
Meridian, Miss...,
Natchez, Miss
64,978
79,851
73,767
15.276
44,768
41,788
454.082
15,420
149,186
24,300,
785,485
14,563
13,728
23.696
56,856
21,122
„
..
Vicksburg, Miss.
Yazoo City, Miss.
_
St. Louis, Mo
4
Raleigh, N. C
Cincinnati, Ohio.
Greenwood, S. C„
Memphis, TennJ
Nashville, Tenn_.
Brenham, Texas.
Clarksville, Texas
Dallas, Texas
HoneyGrove.Tex.
Houston, Tex
Paris, Texas
1,837,607
81,394
Stock.
507
270
395
18,313
120,673
101,845
59,893
180,251
24,123
107,030
137,919
364,412
57,035
53,134
44,518
12,633
94,233
33,734
63,889
80,164
73,831
16,632
46,676
42,170
464,064
15,420
154,063
24,642
787,682
14,678
13,577
23,693
56,856
21,793
1.838.752
81,798
408
2,291
71
20
32
818
177
399
110
10
138
7
1,910
600
502
781
1,665
1,199
650
3
6,671
100
4,916
350
1,016
40
1
Year ending Sept. 1 1909.
Receipt*. Shipm'ts.
22,356
168,235
112,990
95,652
271,756
28,330
124,736
144,909
359,842
61,955
66,060
57,519
10,280
94,441
59,787
74,516
118,677
107,775
53,859
67,252
60,162
687,327
16,649
165,565
26,063
984,370
28,055i
9,754
25,195
99,850:
84
18,641
24,171 2,617,456*
211
87,650
Total, 38 townsl 5,197,494 5,230,135
23,392
170,669
113,113
95,616
271 ,658
28,717
125,013
145,330
363,882
64,413
67,104
57,467
10,185
91,880
59,981
75,130
118,877
107.718
54,013
71,215
62,812
686,465
16,696
162,078
29,848
991,734
23,067
10,884
25,293
100,300
17,898
2.625,176
87,041
50,522 6,922,664 6,954,66
Stock.
370
.476
2,528
2,171
468
325
100
4,312
462
112
Manchester
Belfast
London
Glasgow
.
....
Hull
Havre
Dunkirk
Marseilles
Bremen
Hamburg
ton. a
491,793
41,032
22,756
—
2,074
2,500
68
460
177521
18,800
415,608
6,491
..
97
821
913
566
2,137
3,573
1.581
10,632
3
11,548
442
7,113
465
865
37
755
25,316
615
83,163
_
2.675
37,463
13,499
'
_
700
800
Christiania..
2,950
.
Gefle
’i
Gothenburg
5,300
.
Bergen
Narva
Reval
5,000
21,278
3,360
3,199
Riga
St. Petersb’g
Oporto
19,636
51,276
Barcelona
Valencia
Genoa
•
*.■
-
.
„
Venice
Mestre
Trieste
200
450
200
900
....
300
1,100
300
500
3,281
8,581
200
100
200
100
9,350
500
....
.
10,690
150
400
13,739
1,600
7,108
1,700
19,771
9.120
2,500
....
....
100
7,1.67
100
850
-
100
—
40,983
1,104
41,398
7,300
458
100
458
100
"666
900
93,092
19,581
94,158
118,405
118,405
450
19,476
Japan
Total
650
166
1,000
455
6
900
399
2,000
....
16,891
1,004
5,666
V.
105
....
298,494
16,407
9,380
"
23,625
....
Philippines..
21,248
10,778
1,100
24,694
Syra
Mexico
23',533 14",650
5,000
40,408
4,160
4,299
19,736
196,803
400
300
100
149,547
1,230
500
900
300
500
....
Guatemala
511
148,830 175,522 1,734,747
1.212 5,650 6,927 129,985
1.S50
512
850
19,263
4,230
77,535
6,037
5,377
0,451
20,150
300
1,200
2,650
4,200
100
Flume
Cuba
Canada
....
1,100
100
83,719
*
92,951
3,499
Naples
Leghorn....
1,025
7,583
450
Stockholm..
Malmo
Oxelsund
Total.
....
89,487
1,066
—
6
—
1,193,922 2,265,674 963,680 298,595 6,739 738,260 860,228 6,326,998
a Includes from Port Arthur to
Liverpool, 25,883 bales: to Havre 19,790 bales: to
Dunkirk, 4,000 bales: to Bremen, 92,108 bales, and to Hamburg, 600 bales.
From
Texas City to Mexico, 13,283 bales.
From Corpus Christ!, Ac., to Mexico, 3,853
bales.
d Includes from Brunswick to Liverpool, 83,879 bales: to Manchester, 3,166
bales: to Havre, 5,496 bales; to Bremen, 99,041 bales.
k “Other porta” Include from Gulfport, Miss., to
Liverpool, 7,818 bales, and to
Bremen, 1,074 bales. From Pensacola to Liverpool, 44,952 bales: to Manchester,
3,998 bales; to Havre, 54,674 bales; to Bremen, 34,941 bales; to Hamburg, 1,280
bales; to Barcelona, 100 bales; to Genoa, 2,785 bales; to Naples, 500 bales; to Ant¬
werp, 400 bales; to Rotterdam, 50 bales, and to Trieste, 899 bales.
From Charles¬
ton to Liverpool, 16,901 bales; to Bremen, 84,409 bales; to Barcelona,
14,550 bales.
From Mobile to Liverpool, 39,348 bales; to Havre, 74,601 bales; to Bremen, 36,781
bales; to Hamburg, 4,431 bales.
From Boston to Liverpool, 86,155 bales; to Lon¬
don, 2 bales; to Manchester, 11,857 bales; to Hamburg, 46 bales; to Genoa, 4,823
bales, and to Yarmouth, St. John, Ao., 6,914 bales.
From Baltimore to Liverpool,
18,365 bales; to Belfast, 250 bales; to Havre, 7,896 bales; to Bremen, 18,317 bales;
to Hamburg, 450 bales; to Antwerp. 2,459 bales; to
Copenhagen, 300 bales to
Reval, 9,380 bales; to Sweden, 300 bales.
From Philadelphia to Liverpool, 24,655
bales; to Manchester, 20,956 bales; to Hamburg, 766 bales; to Rotterdam, 4,180
bales; to Antwerp, 2,518 bales; to Genoa 9,283 bales: to Naples, 400 bales; to
Venice, 100 bales.
From Portland, Me., to Liverpool, 427 bales. From San Fran¬
cisco to Japan, 59,769 bales
to Canada, 200 bales, and to Manila, 200 bales.
From Seattle to Japan, 28,519 bales; to Manila, 300 bales, and to Canada, 519
bales.
From Tacoma to Japan, 4,004 bales, and to Manila, 400 bales.
From
Portland, Ore,, to Japan, 200 bales.
From Pembina to Japan, 600 bales. From
Detroit, Port Haron, Ac., to Canada 110,772 bales.
over the
in May
price paid at the last previous public sale,
1910. The first sale of Plaza Bank stock
since September 1908 was made this week at 651—the
price
having advanced 29Yipoints in the interval.
was
Shares.
BANKS—New York.
*4 Commerce, Nat. Bank of
*35 Fourth National Bank
*10 Park
.
.
.
_
TRUST COMPANY—New
sale.
198
204
High. Close. Last previous
198
198
Aug. 1910—
185 k* 186
186
Sept. 1910—
360
360
360
May 1910—
651
651
651
Sept. 1908—
Bank, National..
3 Plaza Bank
Low.
185 J*
335z
621 k
York.
2
Lawyers’ Title Ins. & Tr. Co.
*
Sold at the Stock Exchange,
265
x
265
265
Mch. 1910— 288
Ex-rlghts.
—A New York Stock
Exchange membership was posted
for transfer this week, the consideration being $68,000. The
last preceding sale was for $72,500, made two weeks ago.
—The foreign banking interests who are concerned in the
cotton-bill-of-lading question met in conference on the 7th
and 8th inst., the meeting having been postponed from the
2d.
According to the reports from London on the 8th, the
committee has reached a decision in the matter, but has de¬
cided not to divulge the same until it has been submitted
and approved at a full conference of bankers to be held on
the 14th inst.
It is also stated that there has been
a
wide
divergence of opinion as to the advisability of sending the
original ultimatum, in which the British and Continental
banking houses demanded that American bankers after
Oct. 31 next guarantee all bills of lading on American cotton.
It is pointed out that in the event of the American bankers
refusing the guaranty, the English banks would find them¬
selves in an untenable position, as England must have the
cotton which the United States holds.
—During an investigation into the affairs of the cotton firm
Steele, Miller & Co. of Corinth, Miss., this week, evidence
is said to have been given to the effect that the liabilities of
the company exceed the assets by more than $3,000,000,
and that the entire working capital of the concern was not
more
than $10,000.
Under bankruptcy proceedings en¬
tered against the company last spring, J. A. E. Pyle was
named as receiver.
The company is charged with having
put out fraudulent bills of lading; in connection with this
week’s inquiry, it is stated that no effort has been made to
ascertain how far back the frauds alleged to have been per¬
petrated on European spinners extend; but that it has been
shown that the company entered the new cotton year Sept.
1909 with a shortage of 16,300 bales.
The statement is also
made that for this shortage they had out bogus bills of lading,
thus covering cotton which did not exist. The evidence up to
this time, it is added, fails to show that any of the alleged
fraudulently-obtained money was diverted to channels out¬
of
.
1,850
.
Ghent
Piraeus
....
points
was
which
2,663
657,135 439,421 161,587
51,966 30,941
9.971
21,105
Copenhagen.
Other
Ports.
400
152,246
33,289
Warberg
Rotterdam..
Antwerp
New
York.
25
110
88,752 5,015 355,257 238.621 2,089,658
11,938
31,897 36,811
287,431
250
23,006
2
8,600
30,617
677
3,245
700
1,242
15,700
112,919 137", 171
948,106
4,400
29,691
111
..
Norrkoping
Nykoplng
Nor¬
m’tfon. folk.
626,509 283,711
122,107 43,646
19,941
4s2
If U-
Savan¬
nah. d
'
Liverpool
Galves¬
sold at auction.
A sale of 10 shares of stock
of the National Park Bank was made at 360, an advance of
1,267
In the following we present a statement of the year’s ex¬
ports from each port, showing direction shipments have
taken.
Similar statements have been given in all previous
reviews, and a comparison as to the extent of the total move¬
ment at each port can be made with back years.
It will be
noted by contrast with the season of 1908-09 that,with but
few unimportant exceptions, this year’s shipments show large
declines, particularly so in the cases of Liverpool, Bremen,
Manchester, Barcelona and Genoa.
N eio
Orleans.
633
side the cotton business.
All
the cotton described in the
bogus bills of lading is reported to have been fully insured,
and during the season the company, it is announced, paid
out more than $100,000 for premiums on cotton that did
not exist.
An attempt will be made by the creditors to
force the insurance companies to rebate this amount, main¬
taining that the companies took no risk, inasmuch as the
cotton was not in existence.
These attempts, however, will
be resisted by the insurance companies, the latter contending
that they wrote the policies in good faith.
--In
a
circular letter addressed
to
the national
bank
examiners under date of the 2d
inst., United States Comp¬
Currency Lawrence O. Murray makes known
his intention hereafter personally to pass upon all applications
for appointment as reserve agent.
The practice has here¬
tofore been to approve such applications without any ques¬
tion as to the standing of the reserve city bank, but under
the new procedure unless the affairs of the latter are shown
to be in satisfactory condition, approval of such requests
will in future be withheld.
We quote the circular as follows:
troller of the
Washington, D.C., September 2 1910.
To the National Bank Examiners:
of the Comptroller’s office to approve
of country banks for the designation of a
reserve agent without any consideration of the ques¬
not the reserve city bank to be designated was in a
Heretofore It has been the practice
without question all requests
reserve
tion
as
city bank
as a
to whether or
satisfactory condition.
This perfunctory practice has resulted In the designation of some na¬
tional banks as reserve agents when the Comptroller’s office was cognizant
of their extremely unsatisfactory condition.
Hereafter the Comptroller will personally scrutinize all applications for
designation as reserve agents before they are approved, and the appro\ al
of all requests for designation of reserve city banks as reserve agents
634
which
are
THE
CHRONICLE
satisfactory condition will be denied or at least delayed
with, and the affairs
city bank In question placed In an entirely satisfactory
not In
a
until the Instructions of this office have been complied
of the reserve
condition.
The authority for this action Is conferred by Section 5192, U. S. R. S.,
which provides in part that a certain portion of the reserve required to be
held by national banks may consist of balances due an association from
associations In certain designated cities, approved by the Comptroller of
the
Currency.
The procedure will be that requests
of country banks for the designation
of a reserve city bank as a reserve agent will go directly to the desk of the
Chief of Division of Reports, who will make an Investigation as to the con¬
dition of the reserve city bank in question and attach a memorandum of
that
condition, together with his recommendation, and send It to the Comp¬
troller for either approval or disapproval.
This change In administrative methods will be of
more
interest to reserve
city examiners than the examiners working In “so-called” country districts.
In this connection all reserve city examiners are requested to make such
recommendations In the premises as they may consider proper at the time
of each examination of a reserve city bank.
This change in administrative methods should be called to the attention
of each of the reserve city banks by the examiners to which they are ac¬
credited.
Respectfully,
LAWRENCE O. MURRAY, Comptroller.
—The program prepared by the Trust Company Section
of the American Bankers’ Association for its Annual Meeting,
which takes
place at Los Angeles
has been furnished
us as
on
Wednesday, October 5,
follows:
Meeting to be called to order by the President of the Section at 10 a. m.
Prayer by the Rev. J. Whitcomb Brougher, Pastor Temple Auditorium.
Address of welcome on behalf of the City of Los Angeles by Joseph Scott,
President Los Angeles Chamber of Commerce.
Address of welcome
[ VOL. LXXXXI.
James A.
Foley, and Senators Victor M. Allen, Alexander
Brough and Robert F. Wagner. The resolution under which
they were appointed, besides providing in general for
an
investigation into legislative practices and procedure, into
the use of corrupt and
improper means for the promotion or
defeat of legislation, is also made to include an inquiry into
the “business methods,
operation, management, supervision
and control of all insurance companies other than those
doing life insurance business, including fire insurance
exchanges, and State and local boards of fire underwriters,
and the relation of such companies, exchanges and boards
with legislation, including industrial life insurance.”
Chair¬
Merritt this week issued to some 500 commercial organi¬
zations throughout the State the following letter in which in¬
man
formation
ance
as
to any
companies
or
unjust practices on the part of fire insur¬
their agents is sought:
Sept. 7 1910.
Dear Sir:—On behalf of the Legislative Investigating Committee, which
was appointed to
Investigate, among other things, the subject of fire In¬
surance, I desire to offer your organization and the members thereof the
opportunity to make complaint before this committee In regard to unjust
practices—If there be any—on the part of fire Insurance companies or their
agents, for example, as to excessive or discriminatory rates, unfair ad¬
justments of losses, &c.
In case the prevalence of such alleged abuses should seem to warrant
It, the committee will conduct hearings at a convenient place In your vi¬
cinity.
May I ask you to bring this matter to the early notice of your members
,
behalf of the Trust Companies of California by
J. C. Drake, President Los Angeles Trust & Savings Bank.
Reply to addresses of welcome and annual address by the President,
H. P. McIntosh.
and I shall be very glad If you will undertake to see that this Invitation Is
extended In general to the people of your city through publication by the
Report of the Secretary, by Philip S. Babcock.
Report of the Executive Committee, by Lawrence L. Gillespie, Chairman.
Report of Committee on Protective Laws, by Lynn H. Dinkins, Chairman.
Address “The Advantage to the Trust Company in Making Loans Upon
Marketable Collateral Rather Than Upon Personal Credit,” by Wm. C.
Polllon, Vice-President, The Mercantile Trust Company, New York City.
Address,“The Advisability of a Trust Company Maintaining an Auditing
Department Rather than Having Periodical Audits from Without,” by
Wilbur M. Baldwin, Assistant Treasurer
The Citizens’ Savings & Trust
Company, Cleveland, Ohio.
Topics for General Discussion.
1.
“The Personal Element In Trust Company Work.”
Discussion to be
opened by Edgar Stark, Trust Officer of the Union Savings Bank & Trust
Company, Cincinnati, Ohio.
2.
“Investment of Trust Funds and The Respective Interest Therein
of Life Tenant and Remainder-man.”
Discussion to be opened by Isaac H.
Orr, Trust Officer of the Mercantile Trust Company St. Louis, Mo.
3.
“The Duties and Responsl blllties of a Trust Company In Connection
should be sent to the Legislative Investigating Committee, 55
New York.
Yours very truly,
on
b
with Investments to be Offered to the Public.”
Discussion to be opened
by F. J. Parsons, Secretary United States Mortgage & Trust Company of
New York, followed by Dlmner Beeber, President Commonwealth Title
Insurance & Trust Company, Philadelphia, Pa.
4.
“Should Trust Companies Charge for Carrying Small Accounts ? ”
Discussion to be opened by Edw. O. Stanley, Vice-President Title Guarantee
& Trust Company, New York City.
General discussion of such other topics as may be proposed and
may have
the approvalof the presiding officers.
Unfinished Business.
The program
of the General Convention and that of the
Savings Bank Section were published in our issue of last
Saturday.
—The Treasury Department, it is reported, is
considering
the suspension for an indefinite period of gold
coinage.
The New York “Tribune” states that under plans which
are now being developed
it is proposed to issue gold certifi¬
cates for all gold bullion and foreign coin turned into the
mints instead of coining the same into eagles and doubleeagles. The plan is said to have originated with A. Piatt
Andrew, while he was Director of the Mint, and it is under¬
stood will be given the endorsement of U. S. Treasurer
McClung in his annual report. The reasons for the change
are two-fold; first, it is
expected to save the Government
from $300,000 to $500,000 a year in mint
expenses, and,
second, it will serve to prevent the coining of gold at the
expense of the United States for the convenience of foreign
markets, which
use
it in the settlement of commercial
balances.
—Joseph Austin Holmes has been appointed as Director
new Bureau of Mines, which has been
established in
the Department of the Interior under the bill
passed by
Congress last May. Pending the appointment, George Otis
Smith, Director of the Geological Survey, had been assigned
in July to temporarily assume the direction of the Bureau.
of the
Mr.
Holmes, who has been selected to head the new Bureau,
Technological Branch ofjdie Geological
had been Chief of the
Survey.
—The
committee appointed to investigate
legislative
corruption in New York State in accordance with the resolu¬
tion passed by the Legislature last May, began its
public
sessions in this city on Wednesday.
The committee consists
of Assemblyman Edwin A. Merritt Jr., Chairman; William
W. Colne, Frederick R. Toombs,
Frankj^L.^Young and
Complaints, either formal
or
Informal,
information
and
suggestions,
Liberty Street,
EDWIN A. MERRITT Jr., Chairman.
—In
announcement
calling attention to the prospective
Louisiana exhibit at the Chicago Land Exposition, to be
held in November, the Hibernia Bank & Trust Co. of New
Orleans takes occasion to give publicity to the fact that in¬
vestment money in that State secured by real estate is ex¬
empt from taxation. We quote its remarks as follow's:
an
By constitutional amendment, the State of Louisiana two years ago
perpetually freed from all taxation all moneys Invested or which may be
Invested in paper secured by real estate.
As a result many large tracts of virgin and Immensely fertile low lands
around New Orleans are now being reclaimed, settled and cultivated.
The net return per acre .to the farmer Is large.
So large, In fact, that the
South Louisiana exhibit of climate, soil, health and productiveness at the
Chicago Land Exposition Nov. 4 to 28, will be well worth visiting
Very truly,
HIBERNIA BANK & TRUST CO..
New Orleans, La.
—The
Guaranty Trust Co. of this city has decided to
retire the 2,437 shares of Fifth Avenue Trust Co. stock
which it acquired last January, when the merger of the Fifth
Avenue and the Morton Trust
Roll-Call of States.
Election and Installation of Officers.
money
local press.
companies with the Guaranty
capital of $1,000,000,
the 2,437 shares referred to were owned by the Morton Trust.
The arrangements under which the merger was carried out
provided for the issuance of $1,500,000 of Guaranty stock in
exchange for the $2,000,000 capital of the Morton and
$500,000 of Guaranty stock for the $1,000,000 capital of
the Fifth Avenue.
The capital of the Guaranty was increased
to $5,000,000; in canceling the Fifth Avenue stock the
Guaranty will issue 1,218^ shares of its own stock. The
latter is now offered to Guaranty shareholders at $800 per
The following is the circular which has been sent to
share.
its shareholders with regard to its plans:
was
effected.
Of the Fifth Avenue’s
September 7 1910.
To the Shareholders of the Guaranty Trust Company of New York:
At the date of the merger of the Morton Trust Company and the Fifth
Avenue Trust Co. with your Company, the Morton Trust Co. owned 2,437
shares of Fifth Avenue Trust Co. stock, which passed to this Company as
an Incident of the merger.
Thus far no action has been taken with reference
to these shares.
At a meeting
held this day the Board of Directors adopted the following
resolutions:
Resolved, That the 2,437 shares of Fifth Avenue Trust Co. stock, which
passed to this Company from the Morton Trust Co. under the merger
agreement dated Jan. 5 1910 be canceled, and that 1,218 M shares of
Guaranty Trust Co. stock representing such Fifth Avenue Trust Co. stock
forthwith be offered to the shareholders of record at the close of business
Sept. 14 1910 for subscription ratably at $800 per share In proportion
to their respective holdings;
that the right to make such subscription
shall expire on Oct. 26 1910, on or before which last-mentioned date
payment In full of all subscriptions shall be made; that warrants for such
subscriptions, which shall be assignable, be mailed to all such shareholders,
and that subscriptions or assignments of rights to subscribe shall be made
only upon such warrants; that shares of stock of this Company delivered
hereunder shall be entitled to all dividends declared after Oct. 1, but’no
stock certificate shall be delivered for less than a full share; that nondlvldend-bearlng scrip certificates be delivered for fractional amounts
of shares subscribed and paid for which shall be exchangeable for stock
certificates when presented In amounts aggregating one share or an even
on
multiple thereof, provided such exchange be made on or before Oct. 26
1910, after which date no exchange shall be made; but such scrip certificates
shall be redeemable at their proportionate value at the rate of $800 per
share; that such portion of the said 1,218
shares of stock of this Company
as shall not be subscribed and be paid for, together with such fractional
amounts of shares as shall not be exchanged for full shares, as above
provided; forthwith be sold by the directors at a price to be fixed by them,
Sept. 10 1010
99..883312——TThhee
THE CHRONICLE
not less than $800 per share; and that the several officers of the
Company
be and hereby they are authorized and directed from time to
time to take
all action necessary to carry these resolutions Into effect.
Shortly after the 14th day of Sept. 1910 a form of warrant for subscription
for your ratable proportion of these shares, or of assignment of
your right
to subscribe, will be sent you (If then a stockholder of record) for
signature
and return on or before Oct. 26 1910.
No subscription will be received
after that date; and all payments of subscriptions, whether
original or
under assignments, also must be made on or before that
date, 1. e., Oct. 26
1910.
Mr. Alexander J. Hemphill and his associates offer to purchase from the
Company at $800
per share all of the shares above mentioned whichshal
not be subscribed and paid for by shareholders, and also offer,
In order to
facilitate shareholders In the disposition of fractional amounts, to
purchase
from or to sell to them such fractional amounts at the rate of $800 a
share.
ALEXANDER J. HEMPHILL, President.
E. C.
HEBBARD, Secretary.
At the close of business
635
®ommercial and fUliscellatxcottsilctvs
National
Banks.—The
following information regarding
national banks is from the office of the
Comptroller of the
Currency, Treasury Department:
APPLICATION
TO
CONVERT
INTO
NATIONAL
BANKS
APPROVED.
The Metropolis Trust & Savings Bank, San
Francisco, Cal., Into “The
Western Metropolis National Bank of San
Francisco,’’ Cal.
Capital,
$1,500,000.
NATIONAL BANKS ORGANIZED.
Aug. 24 to Aug. 26.
First National Bank of Leigh, Leigh, Neb.
Capital, $50,000.
Thomas Mortimer, Pres.; E. R.
Gurney, Vice-Pres.; F. Rabeler Jr.,
Cashier; R. J. McNary, Asst. Cashier.
Southern National Bank of Richmond, Ivy.
Capital, $100,000.
A. R. Burnam, Pres.;
Dudley Tribble, Vlce-Pres.; J. E.
Greenleaf, Cashier.
People’s National Bank of Blairstown, Blairstown, N. J.
Capital, $50,000.
John A. Messier, Pres.; John C.
Kitchen, VlcePres.; E. J. Divers, Cashier.
Aug. 31 the Guaranty reported
deposits of $127,684,066, surplus and undivided profits
of $21,143,925, in addition to its
$5,000,000 capital, and its
aggregate resources were $161,312,884.
EXPIRATION OF CORPORATE EXISTENCE.
—For the accommodation of the patrons of its branch at
4,430—The Richmond National Bank, Richmond,
Ky.; expired by limi¬
tation at close of business Aug. 26 1910.
Broadway and 45th Street, the Greenwich Bank of this city
has extended the banking hours of that
LIQUIDATION.
branch, and it will
9,226—The American National Bank of Houston,
hereafter remain open until midnight of each business
Houston, Tex., was
placed in voluntary liquidation July 1 1910.
day.
This is done to meet the requirements of those whose business
extends into a late hour of the night, the numerous hotels
Canadian Bank Clearings.—The
and theatres which are located in the
clearings for the week end¬
neighborhood being
ing
Sept.
3
at
Canadian
cities,
in
comparison with the same
especially benefited through the movement. The new policy
week of 1909, shows an increase in the
will also give an opportunity for the
aggregate of 12.0%.
purchase of foreign
drafts on all parts of the world, and drafts for use in all
parts
Week ending September 3.
of the country, after the
Clearings at—
post office and express companies
Inc. or
are closed for the
day. The Night & Day Bank, at 44th
1910.
1909.
Dec.
1908.
1907.
Street and Fifth Avenue, is the
only other local banking in¬
Canada—
S
$
%
S
$
stitution which remains open until
Montreal
36,895,783
32,872,253 + 12.2
31,752,345
midnight. That bank Toronto
26,196,773
24,832,702
26,193,167
—5.2
24,636,283
19,624,653
formerly conducted business throughout the twenty-four Winnipeg
14,294,883
10,442,263 +36.9
9,112,127
10,543,895
Vancouver
8,402,101
hours each business day, but in June shortened the
5,353,653 + 57.0
3,739,799
3,880,370
1.
working Ottawa
3,164,005
—9.2
3,483,827
2,967,262
2,516,979
2,143,232
2,090,016
period to midnight. The Greenwich Bank is one of the Quebec
+2.5
2,356,179
1,848,798
Halifax
1,458,016
—5.3
1,539,774
1,578,496
1,770,878
oldest banking institutions in the
John
1,383,809
1,475,185
—6.2
city. It was established St.
1,503,765
1,164,571
Hamilton
1,829,183
1,585,429 + 15.4
in 1830, and
1,383,745
1,664,070
has
its headquarters in old Greenwich Calgary
2,369,154
1,776,437 +33.4
1,093,323
1,171,378
909,759
1,114,570 —18.4
1,061,582
Village, at 402 Hudson Street. Under the new call of London
1,232,587
Victoria
1,850,000
1,283,337 + 44.2
827,078
862,645
1,384,597
August 31 it reported combined capital and surplus Edmonton
914,888 + 59.4
661,066
1,032,985
Regina
Not included In total
806,611
of $1,332,919 ($500,000
414,201 Not Included in total
representing capital), deposits of Brandon
$9,719,944 and total resources of $11,209,542. William
Total Canada.
100,917,224
90,123,799 + 1.02
82,673,050
73,510,572
C. Duncan is President, the other officials
being: Charles
E. Orvis, Vice-President; William A.
Auction Sales.—Among other securities the
Hawes, Auditor; Frank
following, not
Hammond, Cashier; Harry A. Golding and Walter B. Austin, regularly dealt in at the
were recently sold at auction.
Board,
Assistant Cashiers.
By Messrs. Adrian H. Muller & Son:
—John D. Brown has been elected to succeed his
Stocks.
father,
$2,500 Elmira Water, Lt. & RR.
3 Niagara Falls Power Co
the late Major A. M.
116
Co. 1st 5s, 1949.
J. & J.__98% & int.
Brown, as President of the Anchor
3 United Gas & El. Co., pfd__ 85
$2,500 United Gas & El. Co. 1st 5s.
3 Plaza Bank
Savings Bank of Pittsburgh. The new President has
651
1922.
J. &J
...94 & int.
4 U. S. Life Insurance Co
50
$100 Meadow Club of Southampton
heretofore officiated as
2 Lawyers’ Title Ins. & Tr. Co.265
Vice-President, in which post he is
income bond, 1946..
$20 lot
22 Lake Superior Corp
20% $4,000 Niagara Falls Power Co. ref.
replaced by R. J. Stoney Jr.
50 Manhattan Transit Co., $20
and gen. 6s, 1932.
A. &
total
.
.
..
...
.
ptotuctavijg ©omtttjevctal^ttfllisR^ms
English Financial Markets—Per Cable.
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
The
as
O..102&Int
each
$1% per share $14,000 Louisiana 8% bonds, Jan.
1,000 Playa de Oro Co., Ltd., £1
1874 coupons attached
.$20 lot
each
.$13 lot $1,000 Detroit Tol. & Iront. RR.
80 National Ptg. & Engrav. Co.
cons.
4%s, 1980.
Feb.
1908
of Chicago, $50 each.
.$590
coupon attached.
13%
Bonds.
$3,000 Lake Superior Corp. income
5s, 1924.
Oct., 1907, coupons
attached
53
London
Week ending Sept. 9.
Sat.
Silver, per oz
d_ 24 5-16
Consols, New, 2% percents.. 80 7-16
Mon.
24 5-16
Tues.
24*%
80 7-16
80%
For account
80 9-16 80%
80%
French Rentes (in Paris).fr.
97.72% 97.72%
97.70
Amalgamated Copper Co
65 %
65
6Anaconda Mining Co.
8%
8%
8%
Atchison Topeka & Santa Fe. 99 %
99%
99%
Preferred
103
102%
102%
Baltimore & Ohio,..
105%
105%
105%
Preferred
90%
90%
Canadian Pacific
194%
194
194%
Chesapeake & Oh'o
75%
75
75%
Chicago Milw. & St. Paul___122%
122%
122%
Chicago Great Western
24
22%
23%
Denver & Rio Grande
30 %
30%
30%
Preferred
73
72%
72%
Erie
26 %
26%
25%
First Preferred..
43%
43%
43%
Second Preferred
..
33
Illinois Central.
133
Louisville & Nashville
146
Missouri Kansas & Texas... 32%
Preferred
Nat. RR. of Mex., 1st Pref.
Second Preferred
N. Y. Central & Hudson
Rlv.li3%
N. Y. Ontario & Western
40%
Norfolk & Western.
98%
Preferred
Northern Pacific.
oPennsylvania
aReadng
aFirst Preferred
aSecond Preferred
Rock Island
Southern Pacific
Southern Railway
Preferred
Union Pacific
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred
Extended 4s
..
a
Price per share.
65%
71%
115^
23 %
53
169%
94
70%
119%
17
36%
6 £ sterling;
33
130%
146
32
63%
71
31%
113%
41
101
91%
117%
65 %
71%
33
133
146
32%
63
70%
31%
113%
41%
99
91%
117%
65%
45
71
45
47%
30%
115%
23%
47%
30%
114%
23%
53
169%
94%
69%
119%
17%
36%
65%
52
168%
94
69%
119%
17
36%
65%
Wed.
24%
80%
80%
97.70
64%
8
99%
102%
103%
90
193%
74%
121
23
30%
72%
258%
43%
33
132
145
Thurs.
24%
_
100%
102%
26%
43%
91
117
65%
70%
45
47%
30
114
23
52
167%
94%
68%
119%
17
35%
64%
194%
75%
121%
23%
30%
72%
26
43%
145%
32%
63%
69%
69
40%
99%
•
145%
69
63%
32%
114
41
98%
91
117%
65%
71%
45
47%
30%
115%
22%
52%
169%
94%
70%
119%
17%
36%
64%
Name
90
33
132
32
following shows all the dividends
105%
33
132
32%
63%
31%
113%
99%
The
announced for the
future by large or important corporations:
Dividends announced this week are
printed in italics.
102%
106
90
194%
75%
122%
23%
30%
72%
DIVIDENDS.
Fri.
24%
80 9-16 80%
80 11-16i S0%
97.75
97.77%
65
65%
8
8
32
113%
41
98%
91
117
65%
71
45
47%
30%
114%
22%
53
169%
94
69%
119%
17%
36%
64%
Per
Cent.
of Company.
Railroads (Steam).
Alabama & Vicksburg
Atlantic Coast Line (quar.)
Boston & Albany (quar.)
Boston <& Maine, common (quar.)
Canadian Pacific, common
Common (extra)
Preferred
Chesapeake & Ohio (quar.)
7
2%
2
1%
3%
%
9
Chicago Burlington <fe Quincy (quar.)
Chicago & Eastern Illinois, pref. (quar.)..
Chicago & North Western, pref. (quar.)_Delaware & Hudson Co. (quar.)
Erie & Pittsburgh (quar.)
do
do
Evansville & Terre
Preferred
Haute,
Manhattan Ry. (quar.) (No. 106)
Minn. S. P.<feS.S.M.,com &pref. (No.
15)
Leased lines
Newark & Bloomfield, guaranteed
New Orleans & North Eastern
N. Y. Central & Hudson River
(quar.)
N. Y. Lackawanna & West., guar
.(quar.)
Norfolk <& Western, common (auar.)
Preferred (quar.)
Old Colony (quar.)
Pittsb. Bessemer & Lake Erie, common
Pittsb. Ft.Wayne & Chic. reg. guar,
Special guaranteed (quar.)
.Vending C'omoany. first preferred
St. Joseph South Bend & Sou., com
Preferred
(qu.)
Sept.
Sept.
Sept.
Oct.
Oct.
Oct.
Oct.
1%
Sept.
2
Oct.
Oct.
Oct.
1%
2
2% Sept.
1% Bept.
1% Dec.
5
common
Great Northern Iron Ore Properties
Interborough Rapid Transit (quar.)
When
Payable.
Nov.
2%e Oct.
5( >c
Sept.
2% Oct.
1% Oct.
3% oct.
2
3
6%
1%
1%
1%
1
1%
1%
1%
1%
2
1
2%
Oct.
Oct.
Sept.
Oct.
Oct.
Sept.
Nov.
Oct.
Oct.
Oct.
Oct.
sent.
Sept.
Sept.
Books Closed.
Days Inclusive.
2
10 Sept. 1
to
Sept. 9
30 Holders of rec. Aug.3la
1 Holders of rec. Sept, la
1 Sent. 3
to
Oct.
5
1 Sept. 3
to
Oct.
5
1 Sent. 3
to
Oct.
5
30 Holders of rec. Sept. 9a
1 Sept. 27
to
Oct.
3
1 Holders of rec. Sept. 16a
1 Holders of rec. Sept. 9a
20 Holders of rec. Aug.30a
10 Holders of rec. Aug.31a
10 Holders of rec. Nov.30a
1 Sept. 18
to
Oct. 17
15 Holders of rec. Sept. 15a
15 Sent,
1
tol
sept. 15
1 Holders of rec. Sept.24a
1 Holders of rec. Sept. 15a
15 Holders ol rec. Sept. 30a
1 Holders of rec Sent.20a
1 Holders of rec. Sept. 22a
3 Holders of rec. Sept. 3
15 Holders of rec.Sept.22a
1 Holders of rec. Sept. 15a
16 Holders >>f rec Ang.3la
18 Holders of rec. Oct.3la
1 Holders of rec. Sept. 10a
1 Holders of rec. Sept. 15
4 Sept. 11
to
Oct.
4
1 Sept. 16
to
Oct.
2
10 Holders of rec. Aug.24a
15 Sept. 11
to
Sept. 16
lSjSept. 11 kto
Sept. 16
THE CHRONICLE
636
Per
Cent.
Memo of Company.
Statement o! New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
Books Closed.
Days Inclusive.
When
Payable.
York Clearing-House banks for the week ending Sept. 3.
The figures for the separate banks are the averages of the
Railroads (Steam) Concluded.
St. Louis * San Francisco—
Oct.
Oct.
& East. Ills. pf. tr. ctfs. (quar.).
IX
K. C. Ft. 8. & Mem. pf. tr. ctfs. (quar.)
Southern Pacific Co. (qu.tr.) (i\o. 10)
Union Pacific, common (quar.)
PreferredUtica & B^ck River
IX
JCt.
2X
>ct.
)ct.
CfrlC
1
..
o
-
3
Vicksburg Shreveport A Pacific, pref.
Warren, guaranteed.
West Jersey A Seashore
Street and Electric Railways.
American Railways (quar.)
Brockton & Plym. St. Ry., pref. (No.
3)_
Brooklyn Rapid Transit (quar.)
Central Pennsylvania Traction
Duluth-Superior Traction, com. (quar.)..
Preferred, (quar.)
El Paso Hacine Co.. common (No. 2>
Frank ford <fc Southwark Pass. Ry., Phila.
Galveston-Houston Elec. Co..com.(No. 3)
Houghton County Tract., com. (No.
Preferred (No. 5)
Louisville Traction, common (quar.)
3)._
_
Northern Ohio Traction (quar,).,
Philadelphia Traction
Portland (Ore.)Ry.,L.AP.,pf.(qu.)(No. 17)
Second <k Third S s. Pass. Ry., Phila
South Side Elevated, Chicago (quar.)..,.
Stark Electric RR. (quar.)
Terre Haute Traction & Light, common.
Turin City Rap. Transit, com. (quar.)
Preferred (quar.)
United Traction A Elec., Providence (qu.).
Trust
Sppt
3X
2X
Oct.
Oct.
IX
$3
IX
2
IX
1
2
$4 50
IX
2X
2X
X
$2
lH
$3
H
X
17
17
3
15 Holders of rec. Oct.
1 Holders of rec. Sept.
of rec.
to
Sept. 30
15 Anar. 27
Sept.
15 Holders of rec.
>ct.
Oct.
Oct.
Oct.
Oct.
Sept.
8ent.
Oct.
Oct.
Oct.
Oct.
Sept.
Oct.
Oct.
Oct.
Sept.
Oct.
1
to
1!Sept.17
1
1
15
1
15
15
1
1
1
1
Sept. 11
Sept. 11
to
to
15 Holders of rec.
•»n1
21
1“
3(
Spr>t ‘J0
1 Holders of rec. Sept.loa
1 Holders of rec. Sept, 15a
1 Sept. 14
to
Oct. 2
8
Sept.
30 Holders of
IX
IX
X
IX
Oct.
Oet.
Oct.
Oct.
1
1
*3
Sept.
Sept.
1
1
1
1
20
20
IX
IX
Oct.
Oct.
Oct.
-U‘Ot.
Banks.
00s omitted.
Companies.
rec.
$
Extra
i
American Express (omr.)
Amer. Iron A Steel Mfg., com. A pf. (qu.)
Antertoaa Locomotive, pref. (quar.)
Amer. Pipe A Construction (quar.)
American Radiator, common (quar )..
Amer. Smelt. A Refg., com. (qu.) (Wo. 28)
Preferred (quar.) (Wo. 45)
Snuff, common
Common (extra)
Preferred (quar.)
Amer. 8ug<r itenn., com & pref. (quar.)
American Tobacco. preferred (quar.)
American Writing Paper, preferred
Borden’s Condensed Milk, pref. (quar.)..
Brooklyn Union Gas (quar.) (No. 38)
Calumet & Hecla Mining (quar.)
Cambria Iron
Canadian General Electric, Ltd., com. (qu.)
Preferred
Celluloid Company (quar.)
Central Leather, preferred (quar.)
Chicago Telephone (quar.)
Childs Company, common (quar.)
Preferred (quar.).
Columbus (O.) Gas A Fuel, pref. (quar.)..
Consolidated Gas of New York (quar.)...
Cuban-American Sugar, preferred
Cumberland Tel. A Tel. (quar.) (Wo. 108).
A merkan
.
Diamond Match (quar.i..
duPont (E.I.) deNemoursPow.,com.(qu.)
Common (extra)
Preferred (quar.)
du Pont Internal Poicd., pref. (quar.)
Eastman Kodak of N. i., eom. (quar.)..
Preferred (quar.)
Federal Mining <fc Smelting, pref. (quar.)
General Chemical, preferred (quar.)
General Elect
(quar >
Goldfield Consolidated Mines (quar.)
Extra
..
2
■ct.
-'ont.
2
1
5
2
Oct.
Oct.
Oct.
Oct.
IX
IX
Oct.
ix
•ct.
IX
Oct.
i
•ct.
IX
14
$7
2
IX
3X
IX
IX
2
2
IX
IX
1
Sept.
Oct.
Sept.
Oct.
Oct.
Oct.
Oct.
Oct.
Sept.
Sept.
Sept.
Oct.
Sept.
itf
>ct
2
Oct.
\x
2
Sept.
Sept.
Sept.
4
IX
ix
2X
IX
IX
IX
2
30c.
20c.
Oct.
Oct.
Oct.
Oct.
sept.
let.
'Ct.
Oct.
Oct.
Guggenheim Exploration (quar.) (No. 31)
Intercontinental Rubber, com. (No. 1)
Preferred (quar.)
International Harvester, com. (qu.) (Wo. 3)
International Silver, pref. (quar.)
Preferred (extra)
Intern it.Smokeless Pow. &Chem.,com. (qu)
2X
Preferred
Laclede Gas Light, common (quar.)
4
l H
Sent.
Lanston Monotype
IX
IX
Sept.
Machine (quar.)
Mackay Companies, com. (qu.) (No. 21).
Preferred (quar.) (No. 27)
Michigan State Telephone ,pref. (quar.)..
Muskogee Gas & Elec., pref. (quar.)
National Biscuit, coin, (quar.) (.ao. 48)..
Nat. Enam. & Stamp., pref. (qu.) (No.47)
National Lead, common (quar.)
Preferred (quar.)
National Sugar R^efining, pref. (quar.)
Nevada Consolidated Copper (quar.)
1
IX
1
IX
X
X
1
[Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
1 X
Nov.
IX
Sept.
JCt.
IX
1 Xb Sept.
Jet.
X
1*4
IX
sent.
Oct.
37 He. Sept.
1X
sept.
Nlles-Bement-Fond, common (quar.)
Nlpe Bay Co., common (No. 1)
North American Company (quar.)
Oklahoma Gas & Elec., com. (quar.)
Phelps, Dodge A Co., Inc. (quar.)
Philadelphia Electric Co. (quar.)
Quaker Oats, common (quar.)
4
Sept.
IX
Jet
2
2X
Sept.
Sept.
1H
.sept.
2
Oct.
Oct.
Nov.
X
...
m
__
$1.25 .Sept.
Quincy Mining (quar.)
Railway Steel-Spring, pref. (quar.)
IX Sept.
;cr.
IX
Republic Iron & Steel, pf (qu.) (No. 35)
.....
Royal Baking Powder, common (quar.)
Preferred (quar.)...
Rubber Goods Mfg., pref. (quar.)(No.46)
Safety Car Heating & Ltg. (quar.).
San Diego Cons. Gas & Elec., com. (quar.)
Sears, Roebuck <fc Co., pref. (quar.)
South Porto Rico Sugar Co., com. (quar.).
Common (extra)
Preferred (quar.)
Standard Oil (quar.)
Subway Realty (quar.)
Swift & Co. (quar.) (No. 96)..
Underwood Typewriter, pref. (quar.)
United Bank Note Corp,, pref. (quar.)
U S. nreel Corn., com.(quar.) (No. 27)..
Utah Copper Co. (quar.) (No. 9)
Yukon Gold Co. (quar.) (No. 5)
3
1H
IX
Sept.
Sept.
Sept.
2
Oct.
IX
IX
1
2
2
86
ix
IX
IX
IX
lX
75c.
2
Sept.
Oct.
Oct.
Oct.
Oct.
Sent.
Oct.
Oct.
Oct.
Oct.
Sept.
[Sept.
Sept.
Holders
Holders
Holders
Holders
Holders
Holders
1
ofrec.
of rec.
of rec.
of rec.
of rec.
of rec.
_
.
People’s
Hanover
Citizens’ Cent..
Nassau
Market & Fultn
Metropolitan
Exchange.
Imp. & Traders’
Corn
Sept .30a
Park
East River
Fourth
Second
First
Sept.21a
Sept. 16a
Sept. 10a
Sept. 10a
Sept. 14
Sept. 14
Irving Exch...
Bowery
N. Y. County..
loi ters of rec. Anu.fila
1 Holders of rec. Sept. 20
21 Sept. 22
to
Oet. 20
1 Holders of rec. Sept. 15a
30 -tent. 23
to
Sent. 3i>
15 Oct.
1
to
Oct.
6
1 Sept. 15
Sept. 20
to
1 Holders of rec. Sept. 15a
1 Holders of rec. Sept. 15a
1 Holders ofrec. Sept. 15a
3 l uders of rec sent ta
1 Holders of rec. Sept. 15a
1
folders of rec. sen. Ifta
15 Sept. 6
to
Sept. 15
! sent.. 18
to
sent. HO
28 Holders of rec. Aug.31/
1 Holders of rec.Sept.15a
1 Sept. 15
to
Sept. 30
1 Sept. 15
to
Sept. 30
1 Holders ofrec. Sept. 15a
1 Holders of rec. Sept. 10
30 Sept. 28
to
Sept. 30
10 Sept. 4
to
Sept. 10
10 Sept. 4
to
Sept. 10
1 Holders ofrec. Sept. 15a
15 Holders of rec. Aug. 17a
1 Holders of rec. Sep. 15 a
1 Holders of rec. Sept. 19
15 Holders of rec.
15 Holders of rec.
Aug 30a
Sept.
1
15 Holders of rec. Sept. 1
25 Holders of rec. Oct. 15
1 Holders of rec. Sept.20a
1 Holders of rec.Sept.15i
1 Holders of rec.Sept. 15a
15 Holders of rec. Aug. 25a
1 Holders of rec. Sept.21a
15 Holders of rec. Sept. 3a
31 Holders of rec. Sept. 30a
31 Holders of rec. Sept. 30a
1 Sept. 17
to
Oct;
2
1 Holders of rec. Oct. 15
1 Holders of rec. Sept. 22
15 Holders of rec. Sept.24a
1 Sept. 20
to
Oct.
2
1 Sept. 20
to
Oct.
2
1 Holders of rec. Sept.20a
15 Holders of rec. Nov. 5a
17 •em.
2
to
Sent. 15
30 Holders of rec. Sept. 23
1 Holders of rec. Sept. 10a
1 Holders of rec. Sept. 10a
1
>ct,
16
to
Nov.
1
15 Holders of rec. Aug. 31
15 Holders of rec.
30 Sept. 11
1 Sept. 10
15 Au? 20
to
to
Sep. 28a
Sept. 30
Sept. 13
to
Aue. 23
3 Holders of rec. Sept. 17
30 Sept. 17
to
Sept. 25
21/ Sept. 11
to
Sept. 20
15 Holders of rec. Sept.
1
1 Holders of
rec.Sept. 15a
15 Holders of rec. Aug. 31
29 Holders of rec. Sept. 17a
16 lolders of rec. Aug. 19a
15 Holders of rec. Oct. Id
15 Holders of rsc. Oct. Id
30 Holders of rec. Nov. la
6 Aug. 28
to
Sept. 5
20 Sept. 8
to
Sept. 20
i
ioMers of rec. Sen. 17a
30 Holders of rec. Sept. 15a
30 Holders of rec.Sept. 15a
15 Holders of rec. Sept. 10
1 Holders of rec. Sept. 14a
15 Holders of rec. Aug. 31
1 Holders of rec. Sept.15a
1 Sept. 21
2
to
Oct.
1 Sept. 21
to
Oct.
2
1 Sept. 21
to
Oct.
2
U
1
3
1
1
29
30
30
inters of ree.
A it sr. Ida,
Holders of
Holders of
Holders of
rec.
Sept. 16
Sept. 2
to
Oct.
17
to
to
Sept. 14
to
Sept 15
Sept. 20
Sept. 30
Smt
Sept.24a
Sept. 10
rec. Sept. 20
rec.
2
Transfer books not closed.
6 Declared 7% payable In quarterly Installments
e Declared 5%, payable 2H% Oct. 15 1910 and 2H% April 15
1911.
a
d Correction.
also given.
German-Amer
Chase
Fifth
German Exch..
Germania
Lincoln
Garfield
Fifth
.
Metropolis
West Side
Seaboard
Liberty
N. Y. Prod. Ex.
State
14th Street
Coal & Iron....
items
are
all cases.
Loans.
Average
Specie.
Legals.
Average.
Average.
Deposits.
Average.
Re8’ve.
%
S
%
$
%
S
3,914,0
20,304,0
31,000,0 12,988,0
4,246,0,
20,366,0
54,097,3 11,879,1
4,454,2,
24,666,2
1,962,0
7,625,0
162,771,9 60,507,8
4,622,8
28,104,5
6,819,0
1,564,5
600,0
1,300,1
8,655,6
1,000,0
2,497,7
446,2
300,0
153,3
2,679,9
1,931,9
500,0
7,524,1
822,4
5,732,3
34,453,1
5,000,0
4,194,6
25,000,0 15,893,1 153,211,6 28,052,7
1,864,0
14,760,8
3,000,0
2,656,3
395,8
500,0
916,0
3,797,4
1,007,7
7,640,5
450,0
1,037,9
462,9
1,977,5
200,0
400,2
3,000,0 11,707,4
71,110,5 14,423,0
5,261,9
21,265,4
2,550,0
1,644,2
714,1
500,0
521,8
7,002,8
1,535,2
8,688,8
1,000,0
1,681,8
2,927.9
12,015,1
2,000,0
1,428,8
7,427,0
42,203,0
3,000,0
5,352,0
3,571,0
25,981,0
1,500,0
7,432,1
81,535,0 20,144,0
5,000,0 12,300,0
313,2
1,485,4
250,0
102,6
27,794,0
4,429,0
5,650,7
5,000,0
12,458,0
2,707,0
1,000,0
2,038,3
10,000,0 19,855,6 100,733,5 27,730,1
21,913,4
5,750,4
2,000,0
1,646,8
3,574,0
903,0
250,0
819,0
500,0
7,813,3
1,191,7
1,604,7
797,7
700,7
4,134,4
750,0
7,472,5
76,364,9 15,583,3
5,000,0
12,164,4
2,469,4
100,0
2,070,5
500,2
3,924,7
200,0
881,6
846.8
4,908,8
200,0
1,010,0
3,192,2
1,000,0
13,659,7
1,526,6
8,167,5
1,781,0
1,000,0
1,177,0
654,0
3,382,3
250,0
489,7
837,1
10,833,7
1,000,0
2,089,8
969,0
200,0
4,379,0
1,023,4
3,864,0
1,000,0
1,913,4
18,458,0
4,706,3
21,208,2
1,000,0
2,717,7
2,149,3
7,954,1
738,8
1,000,0
4,293,0
14,329,0
808,5
1,000,0
5,640,4
1,208,5
1.000,0
332,5
754,0
1,000,0
373,2
6,790,0
Merchants’.
Mech. & Metals.
America
Phenix
National City..
Chemical
Merchants’ Ex.
Gallatin
Butch. A Drov.
Greenwich
American Exch.
Commerce
Mercantile
Pacific
Chatham
Miscellaneous.
Sugar, pref. (quar.) (Wo. 45).
American Can, preferred (quar.)
Amer. Car & Fdy., com. (qu.) (No. 32)..
Preferred (quar.) (No. 46)
American Chicle (monthly).
Amer. Beet
Surplus.
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
1,000,0
25,000,0
3,000,0
..
Guaranty (quar.)
Common (extra)
Preferre 1 (qua'-.)
Capital.
Bank of N. Y__
Manhattan Co
Sept. 30
Oct. 1
Oct.
Oct.
Oct.
are
We omit two ciphers (00) in
Sept. 16
Sent. 16
Aug.31a
to
to
of the totals, the actual figures
case
For definitions and rules under which the various
made up. see “Chronicle,” V. 85, p. 836.
1 Sept. 11
to
Sept. 30
1 Holders of rec. Sept. 12a
1 Holders of rec. Sept. 5a
30 Sept. 20
1 Sept. 26
In the
at the end of the week
Holders ofrec. Sept.15a
Holders of rec. Sept.loa
Hosiers of rec. Sent la
Holders of rec. Sept. 15a
Holders of rec. sept, la
Holders of rec. Sept, la
Holders of rec. Sept.loa
Holders of rec. Sept. 15a
IX
IX
IX
2
daily results.
5a
15
Sept. 5
Sept, la
r^ent !la
^ent.
lent.
3
1
.
5ppt.
5
3
Preferred (No. 7'
Preferred
X
Oct. 2
to
to
Oct. 2
1 Holders of warr’t No.16
1 Sept. 13
Oct. 12
to
1 Sept. 13
to
Oct. 12
30 Holders of rec. Sep. 15a
1 Sept.
1 Sept.
f\'OL. LXXXM
3,473,6
4,105,7
1,762,0
7,883,8
5,787,1
703,8
30,741,6
6,366,1
564,5
18,357,0 26.3
921,0
40,700,0 36.0
1,678,0
21,113,0 26.3
1,313,0
1,092,0
62,283,6 24.8
24,752,0 25.9
1,969,9
7,307,0 32.6
373,0
6,560,0 175,421,7[38.2
25,884,7j26.6
2,241,2
6,901,5 25.0
160,8
6,838,4 25.5
448,5
2,258,0 22.2
56,9
8,357,2:25.4
196,2
2,649,3
32,309,9:25.7
7,095,1 133,884,7126.3
11,141,9 26.2
1,066,7
466,4
3,202,0 26.9
1,172,2
8,251,3 26.4
135,5
2,236,4 26.7
6,890,4
81,407,9 26.2
318,2
20,643,2 27.2
1,221,3
7,881,6 24.5
1,250,0
9,099,0 30.6
12,386,3 25.1
189,9
49,300,0 25.4
5,109,0
2,263,0
23.389,7|26.0
1,182,0
84,735,0 25.1
89,0
1,447,8 27.7
2.291,0
26,456,0 25.4
351,0
11,969,0 25.5
1,991,9
97,088,0 30.6
24,284,1*28.1
1,092,9
3,819,0 25.1
59,0
595,8
7.693,4 23.6
212,4
3,952,4 25.6
82,974,4:25.1
5,257,5
1,242,9
13,764,l'26.9
400,3
3.861,6 23.3
512,1
5,572,6 24.3
14,944,6 28.9
1,127,3
241,0
8,062,3 25.0
245,5
3,609,1 25.0
1,783,1 !
10,449,9 25.0
219,0 S
4,807.0 24.7
1,723,0 1
*1,137,0 26.3
929,7 |
22,540,6 25.0
319,2
9,547,8 25.8
308,0,
17,704,0 25.9
452,1
6,257,3 26.5
833,0,
5,908,0 26.8
Totals, Average 132,350,0 189,131,4 1251,326.7 290,946,3 70,196,2 1*77,893,0 28.2
Actual
1258,191,6 283,022,5 1 67,723.$ i 1375,651,5 27.6
Sept. 3..
figures
1
circulation amounted to $45,636,500 and United States
deposits (included in deposits) to $1,667,400; actual figures Sept. 3, circulation,
$44,378,200; United States deposits, $1,666,700.
On the basis of averages,
Banking Department also now furnishes weekly
banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
The State
returns of the State
For definitions and rules under which the various items are
made up, see “Chronicle,” V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended Sept. 3.
Trust Cos.
State Banks
Slate Banks
Trust Cos.
in
outside tf
in
•
outside of
Greater N. Y. Greater N. Y. Greater W. Y. Greater W. Y.
%
$
8
$
Capital as of June 30
25,125,000
65,406,000
*9,033.000
June 30
37,936,400
171,281,300
*10,864,851
290,009,700 1,009,612,200
+ 404,900
+ 1,636,400
93,634,304
+209,600
138.546,500
+ 645,900
98,930,204
+381.004
143,821,500
134,428,600
+ 62,700
20,816.000
+ 48,400
19.881,200
—485,600
16.4%
16.6%
21.7%
21.8%
14.1%
Surplus as of
Loans and investments..
Change from
last week.
*Ghftnge from last week.
52,313,700
—489,600
Eegal-f/widers &. bk. notes
Chang* rofm last week
24,803,200
—633.400
Deposits
Change from last week.
Reserve on
deposts
Change from
P. C. reserve
last week.
*13,077,768
115,569,600
+29,500
11,309,600
—74.800
339,134,600 1,100,058,400
—3,776,600
—653,800
97,980,600
—723,400
week..
+ Increase over
‘
1
to deposits..
Percentage last
*8,375,000
last week.
20.4%
29.7%
—
•
Decrease from last week.
—261,300
14.4%
* As of March 25.
Note.—-“Surplus” includes all undivided profits. “Reserve an deposits” In
eludes, for both trust companies and State banks, not only cash Items, but amounts
due from reserve agents.
Trust companies In New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according to
location as shown below.
The percentage of reserve required le computed on
the aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York.
The State banks are likewise required to keep a roeerVe varying
according to location, the reserve being computed on the whole amount of deposits
exclusive of time deposits not payable within 30 days, represented by certificated
(according to the amendment of 1910), and exclusive of deposits secured by bonds
of the State of New York.
jg (jgl
—Trust Cos.—
—State Banks—
Total
Reserve Required for Trust Companies
Total
Of
Of
and State Banks.
Reserve
which Reserve
which
Location—
Required in Cash.Required, in Cash
.
Manhattan Borough
15%
Brooklyn Borough (without branches in Manhat.)15%
Other boroughs (without branches in Manhattan) 15%
Brooklyn Borough, with branches in Manhattan.. 15%
Boroughs with branches in Manhattan
15%
Elsewhere In State
—.........10%
Other
15%
10%
10%
15%
16%
5%
25%
20%
15%
20%
16%
15%
15%
10%
7X
20%
16%
6%
Se^t. 10
1910.]
THE CHRONICLE
The Banking Department also undertakes to
present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the
Clearing
House.
These figures are shown in the table
below,
as are
also the results (both actual and
average) for the ClearingHouse banks.
In addition, we have combined each corre¬
sponding item in the two statements, thus affording an aggre¬
gate for the whole of the banks and trust companies in the
Greater New York.
BANKS
Clear.-House
Banks.
Actual Figures
AND
TRUST COMPANIES.
Clear .-House Stale Banks dBanks.
TrustCos. not
in C.-H. Aver.
Average
$
as
of June 30..
132,350,000
132,350,000
Surplus
as
of June 30.
189,131,400
189,131,400
Loans and investments
Change from last week
Total of all
llanks& Trust
Cos. Average.
$
Capital
_
We omit two ciphers (00) in all these
figures.
Capital
and
Banks.
Loans.
S
74,581,000 |
179,347,900
1,238,191,600 1,251,326,700
+ 13,640,600
+ 3,072,700
206,931,000
368,479,300
,
1,097,573,700 2,348,900,400
—953,500 j +2,119,200
Specie.
Legals.
$
$
Deposits.
Surplus.
$
Boston.
Aug. 13
Aug. 20-Aug. 27-.
$
40,300.0
40,200,0
40.200,0
40,200,0
—
Sept. 3-.
204,562.0
204.375,0
204,712,0
206,500,0
Phila.
NEW YORK CITY
Week ended Sept. 3.
637
56,315,0
55,465,0
55,465,0
55,465,0
Aug. 13..
Aug. 20-.
Aug. 27..
Sept. 3_.
$
23.337.0 -4,594,0
22,629,0 4,678,0
21,975,0 4,902,0
21,787,0 4,573,0
250.343.0
250,960,0
71.rf8.0
CleaHngs
%
7,525,0
7,607.0
247.027.0
246,504,0
242,447,0
130,124,7
137.453.3
7,662,0
7337.0
243,439.0
117,404,6
130,989,5
290,924,0 16.265,0
296,783,0 16.374.0
74,907.0
74,733,0
75,558,0
251,838,0
253.392,0
Circu¬
lation.
a
125.190.3
125.482.4
297,474,0 16,427.0
118.646.4
300,431,0| 18.448,0
146.804.5
a Including Government deposits and the item “due to other
banks.” At Boston
Government deposits,amounted to $3,052,000 on Sept. 3.
against $3,036,000
on
Aug. 27.
Imports and Exports for the Week.—The following are
for the week ending Sept. 3; also
of the first week in January:
the imports at New York
totals since the beginning
FOREIGN IMPORTS AT NEW YORK,
Deposits
1,275,551,500 1,277,893,000 al,048,581,500 2,326,474,500
Change from last week
—1,389,100
—5,610,200
+ 206,400
—5,403,800
Specie
283,022.500
Change from last week —13,508,100
Legal-tenders
Change from last week
67,723,600
—4,027,900
Aggr’te money holdings 350,746,100
Change from last week —17,536,000
290,946,300
—8,176,800
121,734,800
—163,400
412.681.100
—8,340,200
70,196,200
—1,615,600
519,458,800
—192,600
89,655,000
—1,808,200
361,142,500
—9,792,400
141,193,600
502.336.100
—10,148,400
—356,000
For Week.
1910.
26,000,100
26,000,100
+488,500
Total reserve.
350,746,100
Change from last week
—17,536,000
361,142,500
—9,792,400
+ 488,500
167,193,700
+ 132,500
528,336,200
—9,659,900
27.53%
28.87%
Surplus reserve
31,858,225
28.29%
28.93%
General Merchandise
15,415,743
$18,258,288
$14,338,298
$12,511,295 •13,950,675
$106,574,762 $115,275,785
524,715,814 461,026,797
$80,588,944 •129,061,337
332,983,508 473,468,908
Total
;
Since January
1.
Dry Goods
General Merchandise
Total 35 weeks
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Sept. 3 and from Jan. 1 to date:
1910.
41,639,250
We omit two ci phers in ail these figures.
1909.
$9,578,362
432,879,555
Previously reported
COMBINED RESULTS OF BANKS AND TRUST
COMPANIES IN
GREATER NEW YORK.
Total 35 weeks
...
$442,457,917
Loans and
Investments.
Deposits.
Specie.
Legals.
Holdings
$
$
$
July
Aug.
6—
2.319.167.3
Aug. 13—
Aug. 20—
Aug. 27..
Sept. 3..
2.331.975.4
2,339,911,8
2.308.248.4
2.310.544.5
2.300.377.2
2.298.440.2
2,299,609,1
2.299.315.6
2,316.350,0
2.320.315.7
2.331.878.3
2,326,474,5
$
23
30--
2.390.776.1
2,355,907,6
2,331,502,9
2,318,054,8
2,305,891,4
$
2.346.781.2
2.348.900.4
382.979.6
367,817,4
376.881.3
389.600.7
399.777.7
405.702.3
416.194.1
421.847.4
421,021,3
412.681.1
90.091,9
88.851.9
90.908.9
92.504.2
94.652.2
93,995.0
92,656,7
90.699.2
91.463.2
89,655,0
on
Deposit.
$
473,071,5
456,669,3
467.790.2
482.104.9
494.429.9
499.697.3
508,*50.8
512,546,6
512,484,5
502,336.1
496.189.8
479.891.1
490.754.8
504,939.4
518.815.9
525,172,3
535.467.8
539.637.8
537.996.1
528.336.2
Reports of Clearing Non-Member Banks.—The following is
the statement of
condition of the clearing non-member
banks for the week ending
Sept. 3, based on average
daily results:
We omit two ciphers (00) in all these
figures.
Loans,
Banks.
Capi¬
Sur¬
tal.
plus.
Disc'ts
and
Invest¬
Legal
Specie.
ments.
N.
Deposit with
Tender
ana
Clear¬
Bank
Notes.
ing
Agent.
Other
Net
Banks, Deposits.
&c.
6
following table shows the exports and imports of
specie at the port of New York for the week ending Sept. 3
and since Jan. 1 1910, and for the
corresponding periods in
1909 and 1908:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Oold.
Week.
$32,150,000
•9.650
4,455
West Indies.
Mexico
South America
All other countries.
Total 1910.
Total 1909.
Total 1908.
3,279,932
4,295
150,000
9,218,166
41,900
24.436
36,409
76.159,072
47,141.800
....
400
Germany
Indies
Mexico
South America
Total 1910.
Total 1909.
Total 1908.
$13,469,736
3,423,750
339,886
230,298
1,651,219
874,718
$74,790 $19,989,921
140,632
6,615,274
305.049
$1,011,677 $27,664,578
$110,000
1,670,400
11,678
476.346
1,213
64,870
13,134,825
$13,344
1.294
7,824
6,405
$679
19,450
65,916
69,836
56,548
1,234,889
783,998
974,330
$1,144,568 $29,821,854
1,089,806 31,556,098
801,785 29,301.863
$145,881
121.506
62.046
$3,072,227
Vo",666
All other countries
\SinceJan. 1
814
$200
$150,200,$44,694,453
Silver.
Great Britain..
France
West
Imports.
Since Jan. 1
"TO', 255
3,500,535
2,497,762
Of the above imports for the week in
1910,
were
American gold coin and $615 American silver$4#255
coin.
Of
the exports during the same
time, $150,200 were Ameri¬
can gold coin and
$10,200 were American silver ooin.
Y.
City
Boroughs of
Man Ac Rrj.
.
Wash.
H’ts
Century
Colonial
Columbia..
Fidelity
Jefferson
Mt. Morris.
Mutual
Plaza
23d Ward..
Un.Ex.Nat.
YorkvlUe
_.
New Neth’d
Bat.Pk.Nat.
Aetna Nat.
Borough of
Brooklyn.
Broadway
.
Mfrs.’ Nat.
S
S
100,0
200,0
400,0
265,8
141,5
333,2
746,5
167,0
530,4
313,2
300,0
200,0
500,0
250,0
200,0
100,0
200,0
364,1
440.0
114,0
924,0
449,4
252,7
150,8
310,5
1,000,0
100,0
200,0
200,0
300,0
200,0
Jersey Citj.
First isNat—
Hud.Co.Nat
Third Nat..
! Hoboken.
First Nat..
Second Nat.
Tot. Sept. 3
Tot. Aug.27
Tot. Aug.20
I
S
S
1,236,0
138,0
45,0
1,402,9
20,4
192,3
4,889,7
687,8
402,9
6,293,0
616,0
480,0
913,0
94,7
63,7
3,005,2
248,8
205,0
2,523,7
479,2
26,9
3.446,8
37.6
569,9
3,975,0
322,0
373,0
1,822,5
.161,3
52,8
8,288,6 1,063,4 1,000,0
4,090,1
56,0
742,3
2,246,0
277,0
91,0
1.438,7
186,8
44,0
2,134,2
463,4
24,8
604,6 2,898,6
802,4 5,526,3
775,4 11,261,7
984,8 6,887,0
580,4 3,958,0
135,4
1,998,3
594,6 3,269,0
252,0
Mechanics’. 1,000,0
Nassau Nat.
750,0
Nat. City..
300,0
North Side.
200,0
First Nat..
300,0
$
16,0
59,1
859,1
337,0
73,1
5,3
3,359,2
3,348,8
924,8
166,1
228,7
310,0
72,7
70,7
258,6
5,0
18,2
4,004,6
4,773,0
2,054,3
8,219,4
5,215,1
2,496,0
1,244,4
2,008,7
INVESTMENT SECURITIES
Our eight-page circular No.687 describes
several
Investment bonds yielding about 4 M to 5
H %.
Issues of sound
Spencer Trask & Co.
43
EXCHANGE PLACE,
-
-
*
NEW YORK
Branch offices: Chicago. III., Boston.
Mass., Albany. N. Y.
438,5
782,0
1,498,7
1,758,0
461,0
386,3
451,0
582,6 3,777,2
108,0 5,807,0
240,1 14,431,2
7,686,0
192,6 4,927,0
109,4 2,458,0
38,0 3,026,0
1,733,6
249,0
697,6
144,0
96,2
50,3
6,340,3
2,647,2
2,466,1
BANKING and EXCHANGE of
every description In connection with
148,5
43,1
206,0
124,6
2,838,6
2,883,3
International Banking Corporation
Wall St., New York.
CAPITAL
1,240,3
753,4
398,0
5,263,8
3,064,1
1,959,4
304,1
138,7
435,5
33,6
62,7
112,4
220,0
125,0
620,5
238,7
3,041,3
140,4
92,8
26,8
93,0
8,447,0 13,131,6 99,539.1 7,289,0 8,046,9 13,039,8 3,522,6 113245,4
8,447,0 13,131,6 99,371,7 7,362,1 8,053,7 13,798,5 3,618,7 113907,9
8,447.0 13,131,6 99,678,0 7,335,7 8,229,0 12,808,2 3,584,8,112914,1
Philadelphia.
ganklttfl and ffitiauciaX.
$
1,220,0
1,547.5
6,805,7
6,736,0
23,8
417,7
307,0
363,0
302,5 1,212,9
622,0
322,0
92,0
538,0
126,6
96,4
324,0
82.0
400,0
250,0
200,0
2,706,2
S
149,0
48,4
649,6
531,0
125,6
246,1
470,4
460,9
651,0
212,3
Boston and Philadelphia Banks.—Below is a
summary of
the weekly totals of the
Clearing-House banks of Boston
and
$7,520,631
417,754,459
The
Great Britain
France
Tot. Money Entire Res.
1907.
$7,025,028
425,541,239
$413,605,273.$432,566.26$ $425,275,090
Week.
t
1008.
$8,858,072
404,747,221
Germany
—
$3,584,736
10,365,939
The
For the week
The averages of the New York
Clearing-House banks
combined with those for the State banks and trust
companies
in Greater New York outside of the
Clearing House compare
as follows for a series of weeks
past:
2—
9—
16-.
$2,465,765
10,045,530
$631,290,563 $576,302,582 $413,572,452 $602,530,245
18.0%
18.2%
+ Increase over last week.
— Decrease from last
week.
a These are the deposits after
eliminating the Item “Due from reserve depositories
and other banks and trust companies in New York
City”; with this item included,
deposits amounted to 11,210,203,600, a decrease of $3,856,000 from last week. In
the case of the Clearing-House banks, the
deposits are “net” both for the average
and the actual figures,
b Includes bank potes.
c Of this amount State banks held
$14,314,400 and trust companies $126,879,200.
July
July
July
July
1907.
$3,296,354
11,041,944
EXPORTS FROM NEW YORK FOR THE WEEK.
Percentage to deposits
requiring reserve
Percentage last week..
Week
Ended.
1908.
$2,842,545
Money on deposit with
oth. bks. & trust oos.
Change from fast week
1909.
Dry Goods
WHITE, WELD &
CO.
Members New York Stock Exchange
5 NASSAU STREET.
THE ROOKERY.
NEW YORK
EXPORTS &
CHICAGO
IMPORTS
60
& SURPLUS.
I6.Q00.0Q0
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
Organized under the Laws of N. Y. State.
60 Wall St., New \ork
k
Interest paid on Term Deposits.
THOMAS H. HUBBARD. Pre id.*
Accounts Invited.
The following are the quotations for domestic
at the under-mentioned cities at the close of the week:
exchange
jBattluers' (Saxjette*
Friday Night, Sept. 9 1910.
Situation.—Aside from
the American Hide &
sensational movement of its shares, the
Wall Street,
The Money Market and Financial
the unfavorable annual report of
Leather Co. and the
latter mentioned somewhat in detail in
our
review of the
cago, 15c. per $1,000 discount.
count.
San Francisco, 20c. per
Board
dull and
102%.
The Government crop report for Sept. 1 was
ticulars more favorable than had been expected.
in some par¬
As to corn,
while it indicates a condition slightly below that of Aug. 1,
it still gives promise of the largest crop ever harvested.
The
condition of spring wheat improved during the month, the
estimate now being for 15,000,000 bushels more than a
month ago.
This report
had very
did also the copper
per
The
little, if any, effect upon the market,
producers’ statement. Sales of cop¬
metal for both domestic and foreign use were larger.
supply also increased and the stock on hand was slightly
reduced.
The Bank of
England reported
an
increase in its percentage
of reserve, and in the open London market there is a tendency
to lower interest rates.
the
reduced from $49,000,000 to $32,000,000,
a falling off in the demand for funds from
the South, and, while call-loan rates remain practically un¬
changed, the rate for time loans, especially for six months’
money, is fractionally lower.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1% to 2%.
To-day’s rates on call were 1%@2%.
Commercial paper quoted at 5%@5%% for 60 to 90-day
endorsements, 5%@6% for prime 4 to 6 months’ single
names and 634@6%% for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £490,447 and the percentage
of reserve to liabilities was 52.06, against 51.52 last week.
The rate of discount, remains unchanged at 3%, as fixed
June 9.
The Bank of France shows a decrease of 8,775,000
francs gold and a decrease of 850,000 francs silver.
are
1910.
1909.
1908.
Averages for
week ending
Sept. 3.
Differences
from
previous week.
Averages for
week ending
Sept. 4.
Averages for
$
$
S
$
132,350,000
189,131,400
Loans and discounts... 1,251,326,700
Circulation
45,636,500
Net deposits
1,277,893,000
U. S. dep. (incl. above)
1,667,400
290,946,300
Specie
70,196,200
Legal tenders
Capital
Surplus
__
Reserve held....
25% of deposits..
Surplus
week
ending
Sept.
5.
127,350,000 126,350,000
174,754,000
161,127,100
1,348,875,100 1.300.731.400
51,583,400
54.723,400
1,394,441,700 1.402.641.400
1,634,500
9,246,900
288,223,400 329.086,500
75,725,300
81,218,800
Inc.
Dec.
Dec.
Dec.
Dec.
Dec.
3",072,700
361,142,500 Dec.
319,473,250 Dec.
9,792,400
1,402,550
363,948,700
348,610,425
41,669,250 Dec.
8,389,850
15,338,275
59,644,950
42,086,100 Dec.
8,390,825
15,746,900
61,956,675
reserve
Surplus, excl. U. S. dep
1
1,275,600
5,610,200
3,900
8,176,800
1,615,600
The market for
railway and industrial bonds has been gen¬
limited volume of business. Trans¬
actions at the Exchange have averaged barely $1,000,000
per day, par value, but included a relatively large number
erally firm
on a very
of issues.
Somewhat
vanced from 34 to 34
Foreign Exchange.—Discounts have weakened in London
sterling exchange here has declined.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 84 for 60-day and 4 87 for
sight. To-day’s actual
rates for sterling exchange were 4 8330@4 8340 for 60
days
4 86@4 8605 for cheques and 4 8635@4 8645 for cables!
Commercial on banks 4 82 %@4 83 and documents for
pay¬
ment 4 83% @4 83%.
Cotton for payment 4 82% @4 83
and grain for payment 4 83 34 @4 83 %.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 20% less 1-16@5 20% for
long and 5 18% less 1-16@
5 18less 1-32 for short.
Germany bankers’ marks were
94%@94% for long and 95 1-16@95% less 1-32 for short.
Amsterdam bankers’ guilders were 40.28@40.30 for short.
Exchange at Paris on London, 25f. 24c.: week’s range, 25f
2434c. high and 25f. 2334c. low.
Exchange at Berlin on London, 20m. 45%pf.; week’s
range, 20m. 46%pf. high and 20m. 44%pf. low.
|g| The range of foreign exchange for the week follows:
this weekend
Paris Bankers' Francs—
Germany Bankers' Marks—
High for the week
Sixty Days.
4 83*
4 83#
Cheques.
4 8635
4 8590
Cables.
4 8665
4 86*
5 20 1-32
5 20*
5
5
5 18* less 1-16
5 18* less 3-64
18*
18* less 3-32
94 *
95*
94*
95 1-16 less 1-32
Amsterdam Bankers' Guilders
High for the week
tor the week
40 12
40
40 32
40 26
than half the active list has ad¬
more
°f point.
Among the exceptional features are American Hide &
Leather 6s, which declined sharply on the company’s annual
report and in sympathy with the shares. Some of the con¬
vertible issues are lower, including Union Pacifies, which
have declined nearly 2 points, Southern Pacific and Brooklyn
Rapid Transits. On the other hand, Reading, Atchison,
St. Louis & San Francisco and U. S. Steel issues are 34 higher..
a
United States Bonds.—No sales of Government bonds
have been reported at the Board this week.
The following
are the daily closing quotations;
for yearly range see third
page
following.
Interest
Periods
2s.
2s,
3s,
3s,
4s,
4S.
2s,
2s,
1930
registered
1930.
coupon
1908-18
registered
1908-18...
coupon
1925
registered
1925
coupon
1936.Panama Canal regls
1938.Panama Canal regls
Q—Jan
......
This Is the price bid at
Sept.
Sept.
Sept.
Sept.
Sert.
Sept.
3
5
6
7
8
9
*101
*101
*101
*101
1
Q—Jan |
Q—Feb !
Q—Feb HollQ—Feb
day.
Q—Feb 1
Q—Feb
...
*
1
*101
*101
*101
*101
*101* *101* *101* *101*
*101* *101* *101* *101*
Holl-
*115
*115
*101
*101
day.
Q—Nov!
*115
*115
*101
*101
*115
*115
*101
*101
*115
*115
*101
*101
1
i
the morning board: no sale was made.
Railroad and Miscellaneous
Stocks.—The market
was
weak on Tuesday,following the
to the close to-day has shown
protracted holiday,and up
little tendency to harden.
Railway issues have been dull and generally steady, only a
few showing net changes of over % point, and these are
about evenly divided as to higher and lower.
Several industrial stocks were more or less affected by a
sensational movement of American Hide & Leather preferred.
This stock, which has been selling for some time past at
from 25 to 28, advanced to 32% on Tuesday, dropped to 19
on Thursday and closes at 22%. These changes were made
with a rapidity "and under conditions which recall the recent
movement of other speculative issues that called for an in¬
vestigation by Stock Exchange officials. The decline re¬
ferred to was accompanied by a drop of 5 points in Inter¬
national Paper preferred, 234 in the common, 2% in New
York Air Brake, 134 m American Can and a tendency to*
weakness in practically all the industrial issues.
For daily volume of business see. page 648.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
410,305.300
350,660,350
Note.—The Clearing House now issues a statement weekly showing the actual
condition of the banks on Saturday morning as well as the above averages.
These
figures, together with the returns of separate banks, also the summary issued by the
State Banking Department, giving the condition of State banks and trust
companies
not reporting to the Clearing House, appear on the second page
preceding. ^ m
WSterling Actual—
York Canal at 10234 to
limited to $14,000 New
surplus
NEW YORK CITY CLEARING-HOUSE BANKS.
w
State and Railroad Boncjs.—Sales of State bonds at the
The local bank statement showed
reserve
but there has been
Charles¬
$1,000 premium.
par.
St. Paul, par. New Orleans, commercial, 25@50c.
per $1,000 discount; bank, $1 per 1$,000 premium.
Mon¬
treal, 31%@15%c. per $1,000 discount.
below, little has occurred during the week
affecting security values, and the market as a whole has been
narrow.
Chi¬
Boston, 10c. per $1,000 dis¬
ton, buying, par; selling, 1-10 premium. St. Louis, 15c. per
$1,000 discount. Savannah, buying, 3-16 discount; selling,
stock market
as
[VOL. LXXXXI.
THE CHRONICLE
638
3-16
95* less 1.32
95
40 36
40 30
STOCKS.
Week ending Sept.
Sales
9.
Week.
Cent & So Amer Teleg..
Col & Hocking Coal & Ir
Tr Co certfs of deposit
E I duPont Powd, pref.
Evansville & Terre H—
General Chemical, pref..
Homestake Mining
St Jos & Gd Isld, 2d pref
Sears, Roebuck & Co
So Porto Rico Sugar....
Range for Week.
Range since Jan. 1.
for
Lowest.
60 116
100
4
178 84*
158 60
300104
40 87*
100 40
200155
65 90
Highest.
Sept
8 117
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
4
8
7 84*
8 60
6 104
6 87*
7 40
7 155
7 90
Lowest.
Highest.
Sept
8; 110
Aug 120
Jan
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
s;
4
4
Sept
Aug 88
Sept 60
Sept
1
7
84*
8,
55
Jan
Sept
6 101* June 107
Melt
6 81
Jan 89
Feb
Feb 40
Feb
7! 38
71 150
June 166* April
7! 81
July 90
Sept
Outside Market.—Business in outside securities
was
ex¬
tremely dull this week and price movements without any
definite trend.
Changes either way were slight. Inter¬
continental Rubber continued prominent, however, the
declaration of an initial dividend of 1 % on the common stock
and the announcement of the retirement of some of the pre¬
ferred stock serving to stimulate the movement of the stock.
The price advanced from 3234 to 33%, dropped to 29% and
recovered at the close to-day to 31%.
American Tobacco
sold at 400 and at 399 finally.
Standard Oil sold up from
600 to 602 and back to 600.
Chicago Subway was traded in
from
ern
434
up
to 4 % and down again to 434-
In bonds West¬
Pacific 5s eased off from 9334 to 93%, but recovered all
Bingham & Garfield 6s sold at 108. Mining shares
unusually dull. British Columbia Copper advanced
from 4% to 4%.
Chino Copper rose from 14% to 15%.
Giroux improved from 6% to 6%.
Greene-Cananea weak¬
ened from 7 to 6% and ends the week at 6 15-16.
Miami
Copper fell from 19% to 18%. Ohio Copper declined from
2 .to 111-16 and closed to-day at 1%.
Kerr Lake w§nt
down from 6 3-16 to 6 and up to 6%, finishing to-day at
6 11-16.
La Rose Consolidated eased off from 3 15-16 to
3 % and closed to-day at 3%.
Nipissing fluctuated between
10 11-16 and 10%, the final figure to-day being 10%.
Outside quotations will be found on page 648.
the loss.
were
New York Stock
Exchange—Stock Record, Daily, Weekly and Yearly
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Tuesday
Monday
Sept. 5
Saturday
Sept, 3
Sept. 6
*26
*68
96%
9934
35
72
97
Wednesday
Sept. 7
Thursday
♦28
♦68
*28
♦68
97
Friday
Sept. 9.
Sept. 8.
35
72
90
73%
188
189
65
300
*61
*250
72
30
*87
74%
188
*61
*250
7278
*
22%
*43
*28
*68
97
144
143
210
150
165
*27g
*71
*69
*158
$492
2812
7014
—
10
*19
25
4U2
*203
*2
*90
97
2284
47
72l4
31
*45
*203
*130
*140
3
525s
*68
72
72
165
520
2212
~25~
25
4112
*29% 32
123U 12358
12334
*53
55
*90
...
*212
*68
*9514
*52l4
2912
70l4
52
10
22
*10
*..
162
520
*48
10
*.
*201
*133
♦140
72
*69
*159
*491
29
*70
7112
2518
*4U2
41%
72
29%
70%
7014
53
10
*
5234
*69
*158
*490
29*4
*48
10
75
100
*9514
*5214
*7U2
5258
29I2
70%
210
150
165
3
25U
4212
*30
33
124
55
*53
4278
43
33
12418
*53l2 55l2
94
185s
4934
17
3078
7812
29
63
20
45
66
133
2414
*33
49
129
148
89
*128
*143
*87
30%
61%
5U2
3U8
613s
52
130
69
♦125
*67
3014 307s
109U 11012
*60
*100
*80
63
110
93
15U2 15U2
146
146
3914
95I2
*86%
11234
395g
96
90
114
110
110
115
*98
*80
*100
1265s 12738
94
*105
94
116
13718 139lg
87
92
*126
I8I4
485s
*1612
30l2
*7U4
3012
78l4
*27
30
.
63
65
39
25
57
*2412
52l2
2612
*8
9
8l2
2312
4934
108
16212 1643g
92
*25
54
92
30
54
1612
3418
*4178
68
68
18l2
4914
17
62%
*15
*35
*63
141
*130
24
*35
62%
19
45
66
141
133
Chicago M4w & St Paul..
Do pref
500 Chicago & North Western
Do pref
*86>2
148
89
31
31%
6212
*61
52
*125
52
130
6738 673s
3014 318s
10934 11038
*61
*100
*80
63
110
93
29
63
18
40
6412
143
133
241|
*39
*127
*145
*87
29
*62
*15
*35
*64
*141
♦130
248s
49
129
148
88%
313s
6212
52%
3114
*61
*125«
*67
18l8
4812
130
6812
3034 31
11012 111%
61
6H2
110
93
2414
*38
*127
*145
*87
3078
*61
52
*125
*67
I8I4
487s
29
63
18
40
66
143
133
2414
49
129
148
89
307g
6212
5214
3078 31%
110% 11034
*6U8 63
*100
*80
110
93
1537.
96
96
89
96
*8612
11234 11378
*98
*80
*100
110
110
114
*98
*80
*100
12678 12734
*91
94
116
1365g 1385s
13778 13912
*86
*91
*86
91
93
287g
621S
*55
39
*21
*56
11034
22
*50
2912
63
65
39
24
58
112
22
52
297s
65
65
40
24
58
*21
*56
2534
9
4914
*10834
1625g
91%
*9112
298s
*3812
*8
*7
2314
90
93
*63
*55
*2412
812
233g
49%
109%
16434
*1612
1712
35
35
*42
35
44
*6714
*412
68I4
*9
*6
*48
11
7
111% 112%
*22
22%
5H2 51%
2534 2534
*8
*7
22
9
96
89
*8612
11334 11378
*99
*80
4934
109
937g
106
110
115
109
94
*101
13778 139%
*86
*91%
29
63
*55
39
*21
*55
29%
6314
1,850 Denver & Rio Grande—
Do pref
Detroit United
Du’uth
So Shore & Atlan
400
Do pref
640
...
T.640
LVle
Do 1st pref
1,850 Ci
Do 2d pref
"2.756
200
100
Great Northern pref
Iron Ore properties
Green Bay & W, deb ctfB
Havana
Electric
Do pref
24
58
*22
2212
*5012
*2434
2584
*8
*7
2314
4984
110
7,450
9,400
700
'200
100
210
52
9
812
23M
4934
110
512
*9
*6
*48
11
7
53
...
Nash
Chatt
& St1st
liuis.
at Rys
of Mex
pref
12,188 Pennsylvania
400 Pitt>b Cln Chic & St L._
Do pref
229",800
I
leading
TV 1st pref
2d pref
9,100 Rock Island
Do pref
900
III
Company.._
St LDo& San
Fr, 1st pref..
2d pref.....
600
St Louis Southwestern...
Do pref
Southern Pacific Co
Southern v tr cfs stmpd 1 >0 pref
do
TN;xas & Pacific
■'"loo
36,260
....
700
100
100
third Avenue (x\ Y)
loledo Railways & Light
1,000 l'oledo St L & Western..
Do pref
1,200
425 l win City Rapid Transit
11
6
53
*412
Lake Erie & Western...
Do 2d prei.._.
*9
6
*48
5%
45
Do pref
Pclflc
Co
Do Coast
1st pref........
1612
3514
68l2
512
J’ly
J’ly
Aug
1,800
“‘166
800
2,000
Union
Do Pacific
pref
Unit
Do
Rys lnv’t of San Fr
pref...
Wabash
Do
...
pref
100 West Maryland
200
Do pref
Ry
Wheeling & Lake Erie..
100
70
312
92
Jan
Jan
Jan
Jan
6634
69
Apr
_
Jhy
42
80%
18%
97%
99
12478
101%
147
15
J’ne 30
40
60
Aug 17
J’iy 1
J’ne 6
86i2 May 6
27 J’ly 26
67
J’ly .6
J’lV 26
J’ly 16
Feb 3
Do 1st pref......
Do 2d pref....
Wisconsin Central....
llli2
3
101i2 Aug 17
105
Feb 14
12212 J'ly 26
89
J’ly 26
114
MchlO
Mch 8
3
Jan
4
Mch 21
Apr 14
Jan
4
J'ly 14
J nel4
Jan 5
Jan 11
Jan
3
54% Jan
3
3I0 Dec
7»4 Dec
Jan
68
Jan
100
Oct
61
76%
Jan
73% Jan
167% Feb
Feb
535
37% Jan
79% Jan
00
56 Jan
14% Nov
Feb
28
22% Mch
36% Mch
28% Mch
136% Feb
65% Mch
13% Nov
n%
36%
26%
48
74%
37
{£eh
Mch 11
Jan
5
108% Mch 21
91% Mch 16
145% Jan 3
11834 Jan 12
118
Jan
8
138% M<-h 9
104% Mch 22
116
Mch 1
30% J’ly 2o 172% Feb 18
*85
Aug 24
93% Feb 17
87
J’ly 26 llo%Jan 3
J’ly
26
22%
57% Jan 3
54
J'ly 27
92% Apr
73 Jan
58
Aug 11
60 Jan
34% Aug 2
18% J’ly 26
34% Jan
SU2 J’ly 26
77% Jan
IO3I4 J’ly 26 *138% Jan
18
J’ly 26
3334 jan
75
43
J’ly 26
Jan
22% J’ly 26
36% Jan
51*) J’no 1
19% Jan
5% J’ly 6
1534 jan 12
19
J’ly 26
54% Jan
4234 J’ly 28
72% jan
103
J’ly 26 117% Jan
15214 J ’ly 26 204% Jan
88*4 J’ly 26 10334 jan
2334 J ne30
42% Jan
47
J'neiu
72% Jan
12% J’ly 26
2784 Jan
61
Jan
o
28% J’ly 26
40
J’ly 26
54-% Mch 12
67
Allg 15
70% May 19
3
10
Jan 8
Apr 28
pec
147
89
Apr
Apr
Dec
Dec
Deo
Feb
71% Aug
21
Jan
36% Jan
39
J'ne
56% Aug
Aug
46
1577S Aug
88% Aug
35%
71
65
76%
f 154
/tl47i,»
Feb
Feb
Apr
Nov
751,
29% Aug
647* J ne
71% Deo
162% Aug
153% Jan
65
90
1491.
Jan
Jan
Jan
94
pec
142
64
Deo
Dec
26%
147%
May
Aug
Nov
Feb
Nov
174% J’ne
69
100
95
Dec *14934 Dec
55% J’ne
Mch,
Dec
92% J'ly
159% Aug
116% Dec
102
Mch §106
Mch 115
Feb
Feb
Mch
Feb
2078 Feb
57% Feb
65% Mch
Feb
20% Feb
47% Jan
114% Feb
22
60
30
Dec
50% Oct
78% Oct
77% Aug
86% Jan
36
63%
1? eb
126% Feb
104
118
89
90
Aug
2578 Dec
164% Aug
Jjy
42% Feb
84% Jan
85% Men
133% Feb
76
100
88
162%
Apr
Feb
Jan
Feb
12% Dec
7
May
Feb
43
64% Feb
97
Jan
172% Feb
Sep
Deo
151% Sep
997* Dec
116% Sep
173% Sep
96
Aug
117% Deo
81
Deo
9434 Deo
74
Deo
60*4 Sep
353* Deo
sir:Dec
139% Aug
Aug
75% Dec
40% Aug
42% Jan
15% <Jan
5478 Oct
74% Jan
116% Dec
219
Aug
118% Aug
*94
30
Mch
41
*eb
61% J’no
127* Jan
257* Jan
15% Jan
637* Apr
Feb
60% Feb
15
Feb
5
J ly
15% J’ly
3
7
357* Jan
5«ioMcb
680
54
90
Aug
Aug
3
J’ly ’6
68% Jan
-May
84% Jan
200
May
86
f0%
Jan
23
Jan
Deo
Mch
*eb
13% Jan
J’ne 30
J’ne 30
105
Jan
Apr
Apr
Sep
Mch
50
7
18%
83%
Aug
Aug
J iy
36
62
82
128
67
162
78% Mch
37% Dec
64-% Deo
165% Sep
Aug
1S1
198% Aug
Sep
122% Jan
44% Apr
Dec
21
120% Feb
48% Mch
100
Feb
/tl51
91% Dec
7434 Apr
Nov
Jan
Jan 19
Mch 14
70% Nov
323% Sep
‘941’,' J'ne
Feb
Mch
139
69
93
8278 J’ne
189% Oct
Apr
‘88
137
Jan
May27
10934 Jan 21
90
J’ly
Apr
21
103
132%
l
122%
100
Sep
Mch
J’ly 20
31% Sep 7
J’ne
143% Aug
Feb
137
51
81
8
125% Oct
106%
Feb
Mch 8
4
Feb 24
Mch 3
Mch 2
Jan 3
Jan 5
Jan 6
155%
92s4
61%
74%
73% May23
Mch
83%
4
5334 Jan
80
145
25
30
67?* Feb
^-5*4 J an 6
19% Feb
6234jan 3
48
Jan.
70% Apr 14
59
Jan
15934 Jan 5 zl2l Jan
130
Highest
Mch §230
Apt
167
166% Jan §180
208
148
Feb 18
3
Jan
J
8
4
44
Feb
158% Mch
173% Feb
44% Jan
71
Jan
141
25%
6278 Jan 12
80
J’ly 26
Mch 21
Jan 3
Jan 3
Jan 27
l437gjan
Aug 2
13112 J’ly 26
123
J’ne3U
23
J’ly 2b
47
J’ly 27
6
3
‘ Nov
Mch
60% Jan
Feb
215
56% Jau
577* Feo
Nov
70
31% Dec
58% Dec
Men 4
1834 Jan
34% Jan
34% Jan 6
5234 Mch 8
—
Aug 2
J’ly 2u
—
Jan 16
01
67
rl65
3
68
00
3
o534 Feb ”6
30
41
125
4
12% Jan 4
92% Mch 18
J’neoo
J’ly 26
—
103% Feb
64% Jan 10
158% Jan 3
Jan
Jan
Jan
Jan
8
/
3678 J an
104
y/%
100% Jan
10710
198% May26
15
25
68
23
114
144
Jan
83
81
185
02 0
62
84
66
Do 2d pref
6,900
2312 J’ly 26
5,000 N Y Central & Hudson.. 105% J’ly 26
200 N Y Chic & St Louis....
55i*» May 4
Do 1st pref
§101 "J’ly 8
Do 2d pref
8234 Apr 28
Y N H & Hartford....
300
149
Apr 28
300
Subscription receipts z.. 4143 J neio
700 N Y Ontario & Western.
38% Aug 2
1,900 Norfolk & Western.....
88% J’ly 26
Do adjustment pref
88
Feb 2
Northern
5,700
Pacific..
Aug
16%
35%
*4178
*6714
*412
44
68
ansas
.....
30
55
44
68
KC MSCity
& MSouthern..
trcfs, pref
.....
*25
*54
3534
Iowa Central
Do pref
Do pref...
’156 Minn St P 6 S S Marie...
Do pref
Do leased line ctfs....
2,700 Mo Kansas & Texas...__
Do pref...
100
1,500 Missouri Pacific
100
94
Mch
20
6
82% May* l
4ll2 J’ly 26
...
Manhattan
inneapolisElevated
& St Louis
700
Mav24
Mav
J'ly 25
J’ne
86
Feb 7
124
J’ly 26
1414 J'ly 26
...
*25
*52
17
9H2
pref
Do pref
Long Island....
Louisville
& Nashville...
1,000
164l4 1653s 159.200!
918s
Do
.
137%Jan
H9%Jan
J ne 27 225
Jan 6
Apr 28 162% Feb 23
Apr ;5 §170% Feb 18
May 14
538 j an 4
J’ly
J’ly
l‘j% J ly 26
35
J’ly .7
26% J’ly 27
H8
J’ly ^6
45
J’iy 6
1L
Aug 10
8S12 Jaii 20
94i2 Jan 25
102
May 6
100
164lg 16612
9U2 9134
32
55
17
Illinois
Central..
nterboro-Metropolitan
-
45
10
17
.....
docking Valley
65
3912
2U J
490
e aware
Mch :
72% Mch fc
124% Jan 3
10414 Jan lu
172% Jan
182% Jan
-6
149’4 J'ly
J’ly
2314 J’ly 2
62% J’ly
& Hudson
Delaware Lack
& West.
100
88
93
1113s H2I4
812
2284
4978
35l8
5212
96
*100
1273s 1277g 1275s 12812
*91
*101
95
110
*95
*8612
II3S4
96
89
114
108
110
115
141
Sep
13714 J’ly
.
130
69
1515s 1515S *15U2 153% *15184
146l8 146lg *14484 148 *14484 146V
*391g 40
393g 398s *3914 40U
1634
11
7
53
29
*62
*15
*37
3012
7814
*100
*80
92
32
55
512
17
*29l2
*7U2
5214
*25
♦52
44%
*16
3078
78l4
24%
*145
I8I4
Aue26
Aua
6812 Feb 7
176
Feb 8
60i2 J’ly 2t;
248
J’ly 26
65
Aug 2
237g J’ly 6
64% J'ne .7
19
J’lV 16
40
J’ly 6
11384 J’ nejo
140
Chic St P Minn & Omaha
Do pref
§160
Chic
Trac
Un
ctfs stmpd
100
2i2
Do pref ctfs stmpd....
6I4
Cieve Cin Chic & St L-_.
70
100
Do pref
46
350 -olorado & Southern
Do 1 t preferred
70
100
Do 2d preferred
70
130
49
17
*129
49
*127
I8I4
485S
*1612
3034
*7112
6412
*141%
1275s 1275s
29%
110i8 11134
22% 2214
*9
*6
*48
"14,560
Do prer
129
24U
*4l2
95
Do pref
:hic Gt Wes, trust ctfs__
Do pref trust ctfs
....
94
96
131
108
9,050 Chesapeake & Ohio
200 Chicago & Alton HP.
52
12
22
*126
*7i2
23U
4934
('an a cl lan Pacific
300
6
Lowest
36
88
'ana cl a Southern...
Central of New Jersey
520
132
*49
950
7U2
16112
2512
Baltimore & Ohio
Do pref
2,800 Brooklyn Rapid Transit.
75
100
53
72
*126
*86
*90
29
63
♦60
39
*21
57
100% Sep
210
150
165
31o
2512
*30
12
9412
*93i2
15,400
23
47
2914
7112
Highest
11,900 Atch Topeka & Santa Fe
Do pref
296
600 Atlantic Coast Line RR._
6512
*21%
*....
12512 *.... 12512
140% 141l4
►a
22%
*
*711*
*287g
*94
♦105
*129
<
31
65
Lowest
Arbor
AnnDo
pref ...
65
300
96
125
*35
*63
m
90
*....
96
*—.
*105
12512 *105
*62l4
1678
a
*61
*250
73%
*45
2%
*71
*69
*158
*492
29l8
70l4
I2334
54l2
*27
o
*
23
47
210
150
165
*130
*140
5278
52
10
22
25
42
33
65
300
♦2878
31
65%
75
*9514 100
72
72
165
495
*87
11834 118% 1193g 118% 1185S
*14212 14312 *14212 144 *14212 144
144
14314 14312 143
*14314 14334
3%
*29
123
54
I8I4
483s
*1612
3034
*71%
<
Q
*61
♦250
73
*68
*9514
5278
>*
73%
*45
117
*68
*-
65
300
30%
65% *_
2212 *22“
117l2 11834
*142
143
*203
*130
*140
90
Range for Previous
Year (1909)
On basis
NEW YORK STOCK
EXCHANGE
25
Feb 25
48i- Feb 23
9034 J'ly 26
*97
J’ly 1
102i*> J’ly 26
35
72
7412 7478 *73% 7358
7412
1893S *18812 18914 $18834 18834
72U
*2878
47
*87
90
74%
Rardge Since January 1.
of 100-share lots
STOCKS
Sales of
the
Week
Shares.
Raii.oads
35
72
98
96% 9734
973g
9934 *99l2 9978 $9978 9978
9978 99“g
109
108
111
*107l2 10912 ♦108
♦10778 111
100% 102
101% IO3I4 IO2I4 103
102U IO3I4
*86
PAGES
TWO
6% J'ly
47
77
Seu
Sep
277* Dec
BANi\S AND TRUST COMPANIES—BROKEKS' ^UOIATIONS.
Banks
Eta
New York
Battery Pk.
175
580
230
100
115
BronxBoroli
375
300
Aetna
America f
Amer Excb.
Audubon
.....
__
_.
Bowery T1
Bronx Nat
Bryant Pk
195
f
Butch A Dr
Century D*.
Chase
.....
•Bid and
a
155
140
170
425
Ask
180
600
lLb~
125
205
16 1
145
175
440
Banks
Chatham
Chelsea Exf
Chemical
HUt
Ask
315
330
200
430
Citizens' eti 150
City
360
Coal & Iron 150
Colonial U.. 400
Columbia
400
Commerce
202
Corn Ex D_. 305
East River. 115
Fidelity f|
165
Fifth AvelJ. 4100
_.
—
—
Banks
-
445
160
Tj_
_ .
206
315
125
175
1500
But
Fifth
300
First
835
14th stn... 150
Fourth
tl85’Gallatin
320
Garfield
290
Germ-Am 51 140
Germ’n ExU 4S5
Germania D. 550
Gotham
150
Greenwich T) 255
Ask
Banks
Bid
Ask
350
Crvlng N Ex
JeffersonlL.
Liberty....
Lincoln....
vlanhattanT]
200
210
Mutual
185
vlark't&Ful
175
625
400
315
250
viech&Met’s
240
Nassau
New Neth’d
NewYorkCo
New York.
N’ht &DayH
19th Ward.
Northern
855
165
....
Hanover...
615
Imp & Trad
540
340
300
150
505
565
155
265
630
560
ked
f Sale at Stock 1 exchange
..
viercantile
this week
h
First Installment paid
255
250
160
170
5...
1|
Exch
150
160
vierchants’.
Metropolis fj
175
180
Hark
390
410
People's U_.
Vlerch
.
Metropol 'nl{ 200
Mt MorrisTI. 250
1
or at auction
425
330
Banks
iuj snares.
n
UState
Ask
295
..
iJaciflc|j___.
Phenlx
200“
Eta
285
240
210
900
320
200
250
PlazaU
....
230
£>345
270
190
Banks
Prod Exch
Reserve
seaboard
Second
Sherman
State 1j
12th Ward.
23d Ward..
Un.on Exc.
Wash H’ts U
West Side H
VorkvlUe H.
...
220"
._
....
335
225
260
105
240
350
280
200
....
hta
Ask
163
100
390
168
110
400
135
425
275
290
140
mmm m
140
165
275
600
600
T651
Dunns, a Ex-dividenn and ngnts.
Sold at prlvata sale at this price,
y 3d
t 2d paid.
o New stock.
paid*
-mmm
mmmm
•
mmm
....
mmmm
•mmm
640
New York Stock
Record—Concluded—Page 2
[V«u lxxxxi.
1
STOCKS —HIGHEST AND LOWEST SALE PRICES.
Saturday
Monday
Sept 3
Sept 5
Tuesday
Sept. 6
Sept. 7
*250
*812
31
62%
42-%
*85
35
9
31
63l8
4234
110
*
.
*250
*250
*250
"
Friday
Sepi 0
Thursday
Sepi. 8
Wednesday
*8l2
’tT
31
31
6212
63*8
43
43
*10012
*8%
*30%
63
4312
— —
3514
35
943.^
36l4
*90
81a
94
81s
*100
36
*90
8%
*30%
36
62%
6438
43% *42%
*100%
9
36
94
<
103
250
*102
6
6
3012
323.4
19
19
*10%
12
*28
35
3412
412
106
*5
*31
*84
33
4
19
23
1934
18%
*434
35%
300
101
45
*200
300
101
43
43
115% 117%
*117
116
*27
9434
40
*2612
5?14
28
*132
*8
*28
K1
n
128
13*8
*4
74
*56
27
o
w
<
1
Q
■
Q
a*
s
m
o
k4
03
-<
u
4
22%
35%
*103
101
45
t-J
w
o
z
M
o
M
W
3034
43S
12834
137s
74l2
27i4
40
*82
50
98
5104
104
63
*2634
*2234
28
40
56
*82
120
26
2§,
3lU
*3ll2
*106
*88
*39
27
7334
*22%
69
120
134% 135
*9219
*26
*94%
38%
*26
27%
58%
57%
*3 '
63
27%
40
26%
*22%
26%
*88
16
92
16
60%
33g
5*8
*91
*29*4
30
94
66
*105
26
*88
*7
*55
*100
t}6%
34
93
160%
*2l2
338
558
*3
*31
36
?90%
00%
2912
29
94
*90
56
65
116
*105
26
26
90
90*8
9
*7
60
*55
104
*100
04
55
116
26
90
9
60
5$
♦65
66%
D5%
4573
i
57%
*121
*....
*14%
17
66%
34 "
*66
34
*93
160
126
61
*121
*.._.
95
160
*2%
20%
*70
66
66%
*33
§94
*158
5%
*3
31
*90%
97%
*29
94
*56
*105
88
*15
*2%
32
30
94
60
116
25%
90%
*7
56
*100
*101
9
56
104
*99
*69
108
♦89%
29
♦90
*55
*105
26
*87
*7
*50
*100
102% *101
*14% 16
*14%
*51
57
§56
*5%
*15
71%
7%
25
33%
106
55
144%
8%
95%
119%
5
16
10
46
39
81
99%
89%
75
114
121%
16
92
50
104
20%
73
66
28
*99
*.
,
*5%
*15
*33
88
17
67
34
94
161
3
97%
20
94
57%
116
26%
90%
9
55
104
103
16
56
108
72
7%.
25
67% 68%
115% 116
46% 46%
58
58%
125
61
Lowest
562
*52
*115
.1
..
168
62
60
125
*158
♦62
♦52
165
64
60
*115
125
*158
168
63%
*57
*105
58
*121
*____
♦158
63%
60
125
.f'ne^y
7% J’ly 2?
Uls-Cbai mers
Do prei__
^
.....-
...
..
......
......
_
......
.
......
_
307
Do pref
100
ational Biscuit
200
Do pret
100 Nat Enamei’g & Stamp'g
Do prel
1,110 National Lead..
Do pref
10
1,985 dNev Cons Copper-Par $6
300 New York Air Brake....
100 North American Co, new
2,900 l>adUc Mail
100 ■t acific Telep & Teleg..
300 People’s GL&C (Chic).
500 Philadelphia Co (Pittsb'ii)
200 Pittsburgh Coal Co
600
Do pref
200 Pressed Steel Car
23
Do pref
100 Pullman Company..
Mining
quicksilver
Do pref
100
...
65
prel
f Inlon Bag & Paper....
U
Do prel
United Dry Goods Cos
Do pref
U S Cast I Pipe & Foundr
66
Do pref
United States Express..
U S Realty & Improvem't
U S Reduction & Refining
Do prel
1.100 United States Rubber—
58
126
<31
63
*57
*112
167
63
59
125
620
-“rir*#*
r.T-T-r
50
“ J’ne
63
J’ly
0
6
22% J’ly 30
30
J’ly 25
103
J’ly 26
84
J’ly 6
13
J’ly 26
60% J’ly 26
25
J’ly -6
yo
J’ly 27
J'neBw
165
2% J’n©27
“ J’ly 26
Xa0%Sep 7
28
i7 J no 4
82% J’ly
481*> J’ly 30
114
J’ly 6
$19% J’ly 26
83
Feb
6
55
06
J’ly 5
J’ly 15
95% J ly 26
64% J’ly 26
4
13
27
47
117
Vulcan Deti nning
15
60
152
56
nref
__
_
VV
ells Fargo & Co
V?
union Teleg..
Westlogn’seEl&Mfg
assen
1st ore!..
8
Aug 2
99% Au? 1
14% J’ly 21
49
J’ne 2b
Virginia-Carolina Cbem__
Do pref
Virginia Iron Coal & Coke
Do
0
85% May 13
46% J’ly 26
1U13* J’ly 26
$i7uJ’iy 6
Do 1st
estern
J’ly 27
Aug
J’ly 6
J’ly 20
)03
58
J’ne 27
J’ly 8
J’ly 26
J’ly 26
J’ly 27
J'ly 26
J’ly 26
J’ne 30
Feb
a
J’ly 28
Apr 22
Feb
4
Feb
Feb
4
49% J’ly 26
llo
May 3
38
65
Feb
Feb
33%
Jan
50
05% Jan
20% Jan
103
16% Au«
57% Nov
96?8 Nov
Aug
Aug
49% Aug
,|qn
13% .Ian
3
71* Feb
81% Jan
72% Jan
c
3
7i% Feb
86
J’ne
441 a
Feb
76i0
Nov
<.
m7io
Feh
IVII
,Vtr*h
09% Mch
1 Ok
42% Jau
u
Anri*
v>20
Jau
4
8% Jan
4/% uan
5
17% Jan
46% Jan
o2% J an
Feb
18% Jan
12
Feb
29
Jan
49
Feb
34
5
2
3
5
Feb
Feb
8
48
Meh 21
Jau
3
112% Jan
3
66
128% Feb lb
143% Feb 24
99% Mch 1
39% Mch 18
Mch 7
Jan 3
104
$54
18% Jan
3
1163. AUg
y5
Mch
105
Jan
Feb
Mch
47
Feb
1I8
Jan
Men
<99% Apr
29
Feb
21-3)i FeD
4
Jan
Jan
3
6
ll4io
Feb
16%
Jan 3
Feb 25
30% Jau 10
60
>Ich 8
73%
Feb
Feb
Jan
88
3
Jan
129
4.S
J till
3-I0
55 “
80
Feb
Meh
Feb
450%
Feb
() V
&Q
u
Jan
jg J ly
is% J’‘y
4
loy%
7% Jan
24% Jan
ti
>
16
3
yu
Men
01% Jan 3
64-=’8Jan /
uo% Jan 17
116% Jan 10
01% Jan 5
78% Jan lo
47%
Mch
33%
Feb
Jan
115
125
Jan
82U
104
70
Jan
Jan
118% oan
96%
28% Jan 3
00% Jan lb
80% Jan 4
110% Jan 17
$21% May 16
V5i2Jan 0
Feb
Nov
85
Jan
6
51% Jan
107% Jan
3
101% Jan
99% Dec
10 “ Apr
169
1
3
8
Men
3
32%
Mch
977.8 Feb
16% Feb
3
80% Jail 3
118% Feb l
$40% Jau 3
05
May 13
13% Jan 10
73
Jan 17
122
Jan
3
113% Jan 4
32
Jan 3
54
Jan lo
)45
Jan io
84% Jan 4
11
Jan 14
20% .Tan 3
62% Jan 3
110% Jan lo
84
Jan
3
91
Jan
3
125%
$60%
62%
120%
Jan
Jan
6
Ti
Jan
§25
Feb
67%
68
Feb
I07a«
Feb
$33%
Oct
Feb
80%
9% Feb
66
Jan
115
Oct
Sep
24% Feb
rl09
3
Jan
107
FeD
$39% Feb
40% Feb
Jan 15
6
Feb
300
64
74
110
Jan
Feb
Feb
Mch
4
82% Jan
'
3
Feb 24
1
19% Jan
6031 Aug
54lo Nov
91
' Sep
95% Nov
77% Dec
Sep
Sep
120
130
30%
Dec
09% Sep
94
AUg
2
87%
J’ne
48io Nov
64
Oct
120
AUg
103
Dec
203« Nov
87% Dec
56 * Aug
11134 Aug
200
Aug
930 J'ly
10
May
54% Aug
109
Aug
49% Sep
110% J’ly
945. Oct
120
Sep
$40
Jail
^
03% J ly
15% J’no
81% J’ne
125% Dec
114 " Dec
35% J'ne
Feb
Jan
Feb
o
Dec
Dec
Oct
27% Jan
27
08
114
57
Jan
AUg
128
9
Mch
87%
Feb §111
Feb
87
Mch
17G
Feb
30%
4
8
jan
iia%
70
82
64
10
24
67% Feb
41% Feb
May27
Jan
78% Mch
130
Feb
Feb
Feb
Jan
40
3019
96
45%
104% Jan
“
97% Nov
Jan
29%
45%
Jan 17
Jan 3
94
17234 AUg
11334 Aug
72
107
Dec
Feb
4
51% Jan
91%
165% Jan
26% J'ne
93% J’ne
03
Dec
41% Jau
05% May
80
3
1
Apr
131
145% Sep
104
May
40% Aug
10734 J’no
5543, Dec
36% Sep
69% Sep
164% Dec
19% Dec
37 " Nov
513, Oct
ill
Sep
Dec
53
Feb
Apr
Jan
Jan
Jan
Jan
Jan
209 Jan ll
3% Apr 6
136-% Sep
7114
102%
Jan
r
Mav
'66% Nov
Feb
Jan
43%
40%
116%
106%
27%
•i
Nov
125s
82
84
3
8
92% AUg
105% NOV
“ J 'ne
69% Jan
Jan 6
Jan 17
47% J’ne
69% Au?
jV>v
Aug
11% J no
59
Sep
Jan
Mch
2510
100% Jan 0
$8% Sep 1
12o% Jan lo
42% Apr
J ne
20
101
2V» ,
y2%Jan
100%
23%
86%
03%
61% Au*
NOV
17% Dec
48% Jau 3
109% Mch b
Dec
Sep
J ly
93%
$37%
18%
34
Jan 3
65
Jan 10
164% Jan 3
71914 Nov
1(171, Nov
oOO
10
38
80
34% Feb
115% Nov
118
NOV
125
Feb
•Xlio Feb
26
Feb
Jan lu
15% N 0V
‘"i%
Jan
77% Feb
907sJan
104
Jan
9s
Feb
>205
6% Feb
29% Meh t
80
8 al95
J’ly 26
6
3
Nnv
•>50
123j Feb
47% Jan 1.
R7o Mav
157
400
100
a
100
118%
15
.(an
Highest
3
Jan It
Jan It
49
...
|>aiiway
S$eel Spring..
It
Do
550 Republic Iron & Steel
300
Do prel
200 Oloss-Sbeffieid Steel & Ir
O
Do pref
1,600 0TennesseeCopper Par$2i>
100 Texas Pacific Land Trust
100
Lowest
1 un
Jan
64% Jan
90% Jan
15
Aug 5
551,-: J’ly 13
35
J’ly 26
UU% Apr .
1*7
prel..
99
Do 2d pref
59%
67% 68% 214,500 United States Steel
61%
116
116
110%
Do pref
2,407
3.120 dUtab Copper
45% 46%
Per $10 t$39%
65
Highest
iiiuustri.Ju Miscdlaucoiu
A dams
Express__
j240
0”
100
Range Tor Previous
Year (1900
EXCHANGE
Do
*158
Range Since January 1
On basis of 100-s/mre to:s
__
'f
i
STACKS
YORK STOCK
NEW
38,500 Amalgamated Copper
600 Amer Agricultural Chem.
Do pref
4,000 American Beet sugar..
14
J’ly 26
Do pref
J’ly 1*7
2.800 American Can
Q7)i J no 3i.
Do prel
700
J'ly
1,510 American Car & Foundry
39% J’ly 26
Do pref
J' rie 3t
1U9
800 American Cotton OIK
£2% J'ly 20
Do prel
101
Feo 1
American Express..
§235 Aug 3
1,650 American Hide & Leather
4
Sep 8
Do pref....
28,780
19
Sep 8
700 American Ice Securities._
lo% J'ly 26
American Linseed
J0% J ly 2?
100
Do pret_._.
261*' J’nej*
1,301 American Locomotive
29
J ’ly 26
Do prel
102% Aug 6
American Malt Corp__
4% J ly 16
200
Do pref
28% J'be iu
100 Amer Smelters Sec prel B
b2
J’ly 23
33,800 Amer ,Smelting* Keiiuin«
61% J'ly 2,
300
Do prel
98% J’ly 20
American Suutl__
2>77
Apr 4
Do prel
95% Jan 13
100 Amer Steel Found (new)
38 J’ly 26
2,600 American Sugar Refining
U40- J’no t
Do prel
H5
J’uc 6
2,500 American Teieph & Teles* 126% j’ly 26
300 American Tobac (new)
Uplo J’ly 26
,pi
100 American WooJeu..
25% J’ly 5
Do pref
100
91% J’ly 5
500 JAnacondaCopper ParS25
*331” J’ly ^6
600 iJethlehem Steel...
21
J nej522 D
Do prel
49
Aug 10
Brooklyn Union Gas.
125
J’ly 26
300 Brunswick Term & Ky Sei
8
J’no2y
Butterick Co._
J’ne s
5,500 f 'entrai Leather
25% J’ly 26
100 Vy
Do prel
99% J’ly 27
Colorado Fuel * iron
22% J’ly 26
350 Col & Hock Coal & Iron
3% Aug.5
3,000 Consolidated Gas (N Y)
322
J’ly 20
1,200 Corn Products Refining.
11% J ut 30
Do prel
710
70% J’ly 26
Crex Carpet
55
Apr.o
640 Distillers Securities Corn
25% J’ly 20
Federal Mining & Sinelt’2
25
J’ly 14
Do pref
800
53
Apr 0
500 General Electric...
134
J’ly 20
22,750 dGoldfleld Con M. Par $10
S7% Sep 8
1,600 I at Harvester am tr etts
583% FeD 6
200 A
Do prel stk tr ctls..
jtl 17
Augll
Int Mer Marine stk tr etts
4% J’ly 25
500
Do prei^_
12% J’ly 26
3,150 International Paper._
y
J’ly 1
Do prel
3,035
411- J’ly 26
700 Internat Steam Pump
36% J’ly 26
100
Do prel
78% J ly 26
610 Laclede Gas (St L) com..
93% J'ly 20
2,364 Mackay Companies.....
79
J’ly 20
5%
31
34
34%
106% *105% 107
75
*121
*....
40
27%
*31% 35%
106% 106%
3
*3
♦31
*65
f*>'8
tQ-A
57% 57%
57'8
125
61
75
6634 68%
115% 115%
X1^8
46%
90
34%
105% 106%
75
*88
*87
104
34
*10512 107
*65
20%
71%
*80
250
*102
68
25%
10212 10212 §102l2 10212
*14
16*8 *14
1658
*51
558
58
6734
*99
♦99
110
110
*6912 72
*6912 72
*5%
7%
♦512
7l2
*15
25
♦15
25
*34
20%
71
*66
27
69
51
273s
28%
32i2 3212 *31% 35%
106i8 106l4 *106
106%
15%
66l2
36
99
96
38'8
27%
57%
*56
104
*102
74
*33
§93
160% *158
*31
93%
28%
63
98
50%
2058
26l4
34
95
*2I2
*82
104
*70
*65
92
*66
*33
*93
*168
36%
106
*115
40
*56
27
5012
2012
106%
1$%
35
300
101
45
117
134% 135%
93% 93%
28% 28%
*94% 96
57%
98
50l4
*102
20”8
12%
135
*131
*131
135
*8
8%
8%
8%
*28U 30
*28% 30
9
*56
50ig
20%
7334
*66~8
19%
*200
*100
*43
117
56
56
56
*55
57
54%
141
140% 141
14U2 *140% 144% *140%
814
83s
8l§
838
8%
7%
8%
9512 96
9518 9534
95% 95%
95%
*118
11934 *119i4 11934 119% 119% 119%
*412
5
*412
5
*4%
5
*4%
16
16
*15% 16%
153s 153s
*15%
*10
11
9
10
*1Q% 11%
9%
*46
49
*46
49
44
42% 47
*3812 40
*3812 3912
37% 38% *38
*80
81
8U2 *80
81%
8U2 *80
9913 99i4
99% 99%
99%
<$l4
f?1,4
86
88
90
863g
90
91
75
*74% 75
75
75
75
x1b
C13
113
*111
*112
114
*112
1131a
120
12112 *.... 121% *.„. 121%
*15
16
15% 15% *15
16l2 *15
£
w
58
135
4
*2812 30
3212 8312
32% 32%
32% 33%
105l4 105l4 *104% 106 *102% 106
*2812 2912 *28% 30
*28% 30
4
4
54
4
*2-53
4%
12812 12834 129% 129% 129 129%
14
14
13*8 14
13% 13%
*72
76
§74% 74%
74% 74%
35
63
*2234
<
K
96
3914
26%
26l4
106
*2834
438
29
*9434
58
*132
*8
30
*104
M
5714
834
33i8
*27
39
134
300
*115
134-% 134%
9234 923/
28*8
9434
*39
*960
117% 117%
120
103
250
21%
*18%
*10%
35
35%
*100
*43
U634
*115
-120
13458 135
92og 92a8
*102
*230
6%
*4%
534
31% 31%
31%
84% *84% 84%
65% 66's
66% 67%
104
103% 103% *103
85
*ioo
*11019 11419
62
62
19
12%
105
66%
46l2
31%
84%
G57s 67
6512 671s
10334 103% *103% 104
*200
*100
*43
*7%
*484
534
3U2
*31
*84
45
94
8
66%
246%
34
*103
106
63%
37%
4%
*11
*29
12%
34
35l4
*29
35
+1Q3
85
103
250
3212
1912
*1012
534
*102
*230
5'h
24
3434
*103
103
250
*230
36
36
*
100
200
8%
....
818
83S
734
8%
68“ 68%
*67is 69
66% 68
4612 46%
46% 46%
4612 47
*11012 116
*11218 116 *112% 114%
62
623g *62” 62*8
62% 62%
*101
*230
Sales ol
the
Week
Shares
Aug
Dec
Sep
Jne
All?
67^8 AUg
123% AUg
89% Aug
0478 Oct
f 31
Oct
S67% Noy
663s Dec
128
Dee
757fi Sep
37% Mnv
670
Dec
85% Nov
90
145
Aug
SeD
BANKS ANl) TRUST OO'IBANIES—BANKERS’ QUOTATIONS.
Banks
Brooklyn
Broadway \
Brooklyn 1,.
Coney Isi’dT
First
Hillside^
Homestead^
Manufac’rs
Mechanics *T,
Montauk
Nassau
____
Bia
Ask
Wanks
Bid.
Ask
Brooklyn
375
290
iTo
Nat City
North Side *[t
155
People
‘
s
...
Prosp'ctPk^
i'erminal fl
290
305
180
!8
iVo“
150
----
90
trust Co s
IV YUUy
Carnegie
_.
Central Tr.
Columbia
..
Bid
110
990
245'
T
Irust Co's
N YCitu
A tor
Bankers' Tr
.....
B’way Tr__
340
•
»
«
145
„
355
650
159
120
ioio
280
Commercial
120
150
Umpire
300
Kqult’ble Tr 455
Farm Lo&'l 1670
Fidelity ... 2U0
Com wealth
...
ATT
Ask
Fultoa
....
290
310'
465
trust Co's
Bid
SS&&
800
Ask
_
175
trust Co's
N Y Trust.
Savoyr___..
Bid
Ask
Irust Co’s
Bid
Ask
640
90
655
Brooklyn
Brooklyn Tr
405
400
410
405
Citizens'
Elat bush
ioo
421
140
485
320
130-j
46)
Hudson
170’
Knickerb’kr 290
Law T I&Tr T265
Lincoln Tr
140
180
300
145
Standard Tr
ntleGu*Tr
Tr Co of Am
Union Trust
Manhattan
400
740
635
US Mtg* Tr
Unit States. 1100
Van Norden
133%
Washington
Westchester
...
Mercantile
375
.
1700
Metro pol’t'u
210
Mutual
Mut AHnce
NY Life AT.
700
67
udo*
•WW*
1129
Windsor
..
375
150
12J
105
Eranklin
1360
470
•
_
_
•
130
-.
270
103
600
L Isl L A Tr 205
230
•
..
Home
Kings Co
1210
210
Hamilton
•
_
Nassau
....
People's
...
queens Co.
Wtlliam8b'?
225
225
290
110
sfd”
185
175
800
115
316
126
100
*Bid
no sa,es oa tlai* dasr* ^t^eas than 100 shares. *
Ex-rtghts. i* New stock c Ex-dtv an! rights, d Now quoted dollars per share,
tSale at Stock BxohaDge or at auction this week.
* Et- stock dividend,
i} Banks marked with a paragraph
are State banks.
New York Stock
Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 11909, the Rxohange method of quoting bonds was changed, and prices are now
BONOS
Price
N. Y. STOCK EXCHANGE
Week Endino skit 9
Friday
Sept 9
Hid
101
101
t. s. «*ov«i‘finieiu
S 2s consul registered.dl930
S 2s oouaol coupon....t*193U
S 3s registered
kl9lS
S 3s coupon
«191»
S 3s oou small bonds..«1918
8 4s registered
1925
8 4a coupon
1925
8 Pan Can 10-30 yr 2a./lcl930
U
U
U
U
U
U
(7
U
Week's
or
Last bale
115
101
93 4 Bale
XT
State and City Securities
N Y City—41*8
1960
4% Corporate Stock
D>59
M-N
4% Corporate atook ....1958 M-N
New 4 4s
1957 M-N
New 448
....1917 M-N
44% Corporate Stock ..1957 M-N
4 4% assesamt bonus
1917 M-N
4% Corporate stoca....l957 M-N
N Y state—Canal Inapt 4s.I960 J.J
So Carolina 4^s 20-*v
1933 J-J
Tenn
settlement 3s.. 1913 J-J
fund debt 2-3s...l99i J-J
new
Virginia
us deterred Brown Bros ctfs.
High So Low High
1004 I014
1U04 1U( %
102Q J’ne’10
101% 102*4
1014
are
964
96%
944
94 4
93 4
894
89 4
114% 1154
H44 115%
964
Aug’10
O64
Aug’H
104
5
964
944
...'!
asis
100*4
98 4
974
88
90%
45
41
101%
100%
10U 4
103 4
laoama Cent
bee So By
Ann Arbor 1st g 4s
/il995
Atdi T A 8 Fe—Gen g 4s. 1995
Registered
1995
Adjustment g 4a
*1995
Binicing fund 4s
Q-J
T9
76
98 %
97
Ala Mid 1st gu gold 6s ..1928‘M-N
Brans A W 1st gu g 4s ..1938; J - J
Charles A Say 1st g 7s.. 1936! J-J
L A N coll g 4s..
01962 M-N
Say FA W 1st gold 6S..1934'A-O
1st gold 5s
1934 A-O
J*J
Atlantic A Danv bee south By
Austin A N W bee sou Pacihc
|>alt A Ohio prior 1 g 3 4s.l925 J-J
Registered
*1925:Q-J
*1948'A-O
QOld is
Registered
.*1948
Pitts Jane 1st gold 6s... 1922
P J an A M Div 1st g 3 4sl925
P L E A W Va Syaref 4sl941
ionchw div 1st g 3 4s... 1925
Registered
*1926
0«n Ohio R 1st 0g44s..l930
01 Lor A w OOU 1st a 5» 1933
Monon Rty 1st gu g 6s..l919
Ohio River KR 1st g 6s. 1936
General gold 6s
1937
Pitts Ciey dt Toi latg 6s 1922
Pitts A West 1st g is...1917
Stat isl Ry 1st gu g 4 4s 1943
Beech creek bee N V c A H
Beiley A Car bee Illinois Cent
Bklyn A Mon tank bee Long 1
984
93
894
924
J-J
M-N
90 4
904
113 4
ib«“ 167"
1064
Stamped
2u prei lucerne g
2d ptel income g
106
12
L0]
91%
119
107
95
122%
40 100
98
104%
Registered.
i IU4% 122%
* * v -
98
4
98
b
97
92
4
934
8
92
Louisr N
92
92%
“98%
Salt
1114
Ohio Ind A Sou
*
J’ly ’
92
914
924
Oct ’09
Btampeu guar 4-5s....l96o F-A
Kings Co El 1st g 4s....1949 F-A
Stamped guar 4s
1949 F-A
Conn By
102 4
1094
P0 4*
904
90%
5
1
90%
96
99
87%
»9*%
69
89%
Mar’10
|U0
112
103
110
Aug’10.
106% Feo’o7
93
91
89
894^’^,
103
Det United 1st oou g 44^1932 J-J
Havana Elec consol* 6s. 1962 FA
Inter Met coil 44s
1956 A-O
Inter R&p T 3 yr conv 6s. 1911 M-N
43-yea* 6(8 Seyies A.....1952 M-N
Internat-TracooU tc 4s..1049 J-J
Manila.
[aniU Elec 1st)
coil 6s.
1st A poll
5s. 1953
M-S
1B33JM-S
*No price
Friday; Utest this
week.
106
103% Aug’lO ...! 102 1054
110 4 114%
110%
lii%
1114111% 112 4 Jan’K
112 4112 4
9J
100% bale 100%
100%
1034
101% J’ne’io
101% 101%
*92 * bait" 91%
28
89
v2
95%
89
87
84% 89
Apr’10
89
87 4 85% J’ne’10
83
85%
105
90
104
90
Aug’lo
101
104
Jan ’09
97
944 Aug’10
91
944
99
904 Jhe’i.0
113% Peo’Oo
90 4
93
87%
72
69
674
874 914
714 Auglo
70
77
76
69
Oct’09
68%
75
99
J’ly’io
98%
864
i’uo"
69
88
88
99%
1034
98% 1014
89 4
984 100%
......
98%
994
96
98
98 4
Aug’10
Aug'10
1014 Mtu’\/9
97% May’10
98 4 100
98
100%
97 4
99
100% 102% 1014 1014
100 41024
97% oaie
97%
98
17 97
100
luu%
100% J’ly TO
100% 102
81
85 % 82
81
Aug’ly
864
120% 1274 121 J’lyTO
121
127
lu84....
108% J’ly To
108% 113
li.4
112
.ua>’u9
Mar’10
12441254 126
J’ne’io
109 4
...112
i:i
50-yr 4s..1956 J.J
106
99% bale
*1989 Q-J
112
1291
Dec’uy
114
100
914 94
106 4 103
89
102
126
...
ibo" ibos
I
J’ne'lO
Apr To
J ne’io
9d “-4
99%
1034 Oct 08
13!
93 4 94
103
103^
98
1001
....
series B.S1989 J.J
Dec’09
Nev'uy
lJt94 Mar’04
984 Sep’09
100
Mov*04
n
Sinking tuna
••••••
Registered
Debenture 5s
•
«••••
•
•••* *•
•••«••
•
. •••
113% no 4
109%
105
96
99%
•••
Sl034
,
116% J.16%
72
72
J 48
M -8
4105%
10U% lwl%
1 102
Au
100% May'07
luu *3
....
_
lUl2iM-N
11241134
79
79
87
82
;
!
84
80
80
*45
82
81
101% 102% 102% Sep TO
82
bait
81%
82
1014 J’ly'io
*6*5
....
BONDH—Continued
99 4 Mai’09
100
80%
100% 100%
100%
100 4
84%
Aug’10
....
84% Apt TO
....
81
80
76%
764
102
101
78%
814
94 4
i 9 % bait
100% bale
100% Sale
••••••
..—
Aug’H
<
6
*
102% Mar’li
101% Aug’lO
80
94
J’ly’R
Apr’10
-6
103
99
99 % 103
85
fe4
80
86%
82
76
....
2
....
....
102% 102%
100% 102
....
...
80
93
79
S2%
94
79 4 114
77
83%
6 I0d% 104
lUu%
100%
20 lOO
103%
100%
101
67 % Mar TO
67% 61%
98
9« May’Otj
...•+« .*•••*
May’Otjf....[)....*1
11 Flat oDu«Jan
Next
de.19931 M-S
M-S
J-J
United fiRa
llRs'san
United
ban
yDue J’nn
10641061
••••••
......
1144
199 4 111J
.114% J’ly’io.... 1144117'
T12% Mar’lu
112% 112s
107 4
117 4
T4*4Ffcb’02
116%
T23 4Api’09
......1034 *tuy’u9
110
1O94Auk-10" 109 4112
Ill
198 Aug*lO..
109
1U9
96% safe
90%
944 99
ut>%!
98% Feb’iof
98% 98
89
bale
88%
89%! 45 86
92
97
J’ly’04
100
109
.
97 4J’ly’io
94*51 dan To
94
Dee ’09
94%
96
72 4 Bale
109
974
..
..
..
May’lO'H
U34Aug’u9 '..I
7 2% 126
72 4
76%
944
*944
66%
gj
Mari*....I 76% 8(j
114% llJUMatTdl.J 1134114
120 4Mai’l)31 ...I
106 Apr’io.... 196
ibt
—
103
104
102
104
110 4108
93% 102
104
May'10....! 104
86
104
108 Ho
Feb’ioi.... 103 4104
Mar’10
....
13141274 124 4 J’ly
4s, 1934
J-J
123
93
DeC’03....1
76
46
J’ly Md
J’ly’H
127%
98%
96
95
60
ib*2 4
100
99
......
loO
96
9/
63
59
69S
106% 107\ 106% Aug’H
Ala*’It
-834 St
98
Nov’Ob
*87%
103% 108
l07%Dec’O9
95% 97
---—100
89
37
97
J’ne’10
98
Apr’uU
90
88%
38%
38
84
80
39
38
Oot ’08
64
96
.
Apr 10
JoyTi
82%
46
584102
too
J’ly'Id
75
....
12
102
96% 99
63
69%
65
68%
105%
10^%
*9*d" 99**
....
13
3
*83** '*8*9**
31% 40
ww
AugT0....||
70 A»g’1^.4
?0
AS’i^IIII| 6$ ”
ffDae^ug““oDd^Owt p Due Nov VopMon 8«2«
Frsf 4s.l927
4sll927 A-O
*Due j'ly
74%
69% Sal*
J-J
M-N
J.J
Tri-Grty Ry A n.t lets f 68.1913 A-O
u a tier ground ol Lon
d»...l92o M-N
1933 J-J
^His...
Income 6s
1948
Union El (Chic) 1st g 68.4945 AO
United Rye bt L 1st g
J-J
«Due May
MS***
Page-
Col A 9th AvlstgU
g
Lex At A P F 1st
gu g 3s 1993
Third Ave RR oou
gu 4s 2000
Cent Tr Co cei tia
stmpd...
Third Ave
Ry lat *5s..l937
N on Ry a Lt gen 4%»s ..1935
Bt Jos Ry LtH A P
1st* 5s ’37
st Paul City Cab eon
g 6s. 1937
••••
d DueAur
on
Street Railway
Met St Ry gen ool tr
g 5s.l997 F-A
Ref g 4s..
2002 A-O
Rway* 7th Ay 1st o g 5s 1943 J-D
101% 104%
79% 87
101% 104
iu6
107
1917 M-N
n
64%
83%
iuJ*
106
105
*
M A Bt L 1st gu
g 7a..1927
Choo Ok A G
geu g os .01919 j.j
Consol gold 5s
,1962 M-N
Eeok A otsli 1st da....1923 A-O
Chic bt
a n o
bee ill Cent
Jhic Bt e a Pitts bee Penn Co
huo Bt P M A C con 6s...1930 J-D
Cons 6s reduced to 3 4s. 1930 J-D
88
88
82
84
75
75
75
80
1
ibo
Mar’lu
107V107 May TO
To04 Jteu’io
109
110 May’10
liO
109
o iy’Ob
io£
TOO
....
,p....1916W-N
Chic R 1 A Pho RR 4a..2002 lM-N
Registered
2002 M-N
Bur 0 it A N-*- IsFg 58.1934 A-O
A-O
103% 109
J’ly to
105%
1054
1916 M-N
0 4s
....
85
85
80
80
lull
M-N
a Pac 6s...lul7 1 - J
Registered
....1917 J-J
General gold 4s..........1988 J-J
Registered
1988 J-J
i is** ii?"
108 %
1679-1929
incomes
ChiC Rock isl
....
1034 Sale
5s...l879-l829 A-O
A-O
1921 A-O
Registered...,,
1921 A-O
Sinking tuna deb os
1933 M-N
Registered
1933 M-N
MU L B A West 1st
g 6s 1921 M-S
Ext A Imp s fund g 5s 1929 F-A
Ashland Dit 1st g 6S..1926, M-S
Mich Div 1st g 6S
1924 J - J
••••*•
.
...
......
90 4
103
113%
.
I|l2
110%ilia
107
1134 ii64 J’ly’io
105
107
105
96 4....
96
108
103
1144118 115
114
116% H64 Apr’iu
72
Mi
J.J
A HstAreig4 4s’$l J-J
Stamped gnar 44*
1931 J-J
88
100% 101%
111% bale
i:j
92%
*16 '9*7% ib*b*%
oet’oi.
b7% Aug’lo
.
ib*i*%
90
10
120
87
J-J
BkgCo Ab con gu g 6s. 1941 M-N
Bklyn Uu Ei 1st g 4-&S.1950 F-A
100% J’ly’10
i:i
97 4
95
•lil^CEhliAMKOIJb
g 6s
1945 AC
1st refund oonv g 4S....2002
J-J
Bit City lstcou 6s.l916.1941
S5
A
Street Itnihvay
Brooklyn Rap Tr
87 % Sep *10
86% 87% 87% Aug’io ...J 85% 89
25-yr deoen 4a
91% bait
...1934 J-J
91%
oi%
914 £70
933
105 4
Ujnc A L su Div g os....1921
107 % Mar'lu
!llu7% 108
Chid A Mo BiV Div 6s...1926
106
108
107 J’ncTO ...J!i07
110
,“-”i
ChlO A P W 1st g 6s
106% bale 1064
1921 j.j
ld6% i2,;iu5%108i
Bak A Gt so g 5s........1916 j.j 102%
102% J’ly’lu ..J1024103
Far A Bon assn g 6s
*’*"■*
116% MayTO
1924 j.j 116-8...
1a6% 116s
Lacrosse A D 1st 6S....1919
104%
104
104 4 Augiu
106
Mineral Point Div 6a....1910
100
1(J0J
|10O MayTO
Bo Minn Div 1st 6s..
I
lOtl
Nov'ua
1910 j-j
Wls A Minn Div g 6a....1921 j.j
'105% Aug 10
lo5%
1*054 i*08*
MU A N o 1st M L 6s
1910 J-D ...... .....JlOo^ MayTO
100*4 100*
1st oonsoi 6s
1913 J-D 103% 103% 103% Aug 1U
103% 106 ‘
Chio A N orth w cous 7s.... 1916 Q-F 1094
ill
109*4113
118
110 4113
Aug'10
Extension 4s..
100 J’ne 10
1886-1926 F-A
W»4
96*vlul
94
954* iy TO
Registered..,....1686-1926 F-A
954 951
General goia 34a
884
bale
884
88
87
.1987 M-N|
4
89s
Registered
934 a pi 'oy
pl9«7
no"
Sinking land 6s...1879-1929
110% May 10
i’10% ii*is
109
Registered..,. ...1679-1929
1114 Aov’u9
'
5a....pl945 Oct
6s stamped ....
1947
68.1910
IU9
100 4 101%
100
10U%
91% Lce’08
99% 99 4
99%
1084 Oct ’09
ctuc MR a St P term g 6a 1914 J-J
General g is senes A..#1989 J.J
96%
••••
9»%
-
M-S
3u prei lhoorne g 5s....pi945 Get I
3d pret income g 6s stamped.1 ....<
Nassau Biec gu g 4a ....19il
A A Chisi
125 4
12u% 125
107
.
J-D
....
874
.1937
Refunding gold6s..
*42 "b*y" ‘*9*54
119 ‘ 112*
J
95
96 4
F-A
M-N
M-N
Oct
87
110
103
ljliO
.....
87 4
Ohio A inu c By 1st 6s. 1936
bee Erie
Clue in A Louisv rex 6s...1947 J-o
97%
94%
...J 10741094
924
127
113
-
110
98% 98% Chicago A Erie
’91" "
92
-
Q-J
J -o
A-o
A-O
J-J
94%
High
102
JMy’lu
May’10
00
87%...,..
Han «fc BtJ os consol 6s..i9li
Clue A Eiilref Aimpg 4s 1955
1st consol g 6e.«
1934
General oonsoi 1st 6a.... 1937
92
General g 34s
128**
98%
100 4
’*98% "II"
1919
Registered.
M-S
F-A
100
96
Apr’10 ...Jjli34 117
.
I’JoSj
70
67 4
Joint bonds bee Great North
Debenture 6s
.1913
**••••
9u% s>aie
90% bale
A-O
98
88
93
89
90
Jan’10
904
90%
100
*86 4
....1927
Soutuwestern Div 4a....1921
74
834
974 101
y*2
M-N
J*J
1913’J-J
1913'M-S
Registered
1913
Oar 0 A 8hawu See i U ceu t
Carolina cent bet beab Air L
Carthage A Ad bee N 1 c A H
CedRlaFAN bee BC RAN
Oen Branch By bee Mo Pao
Cent ot Ga BB 1st g 6s..pl945
Consol gold da
1945
Registered
1945
Istpret income g 6s....»1945
2
133
89%
115
Nov’05
110
Jan’l i
107
102
Sep’10
i 22
122
122
12 L 4 120 4 Aug' 10
109
109
Aug’10
Registered..
J’ne’ lu
Q-J
Bruns A West bee Atl Coast L
Buffalo N Y A Erie bee Erie
Buhalo RAP gen g 6s...1937 M-S
Consol 44s
1967 M-N
All A West 1st g 46 «U..199S A-O
01A Mah 1st gil g 6a....1943 J-J
Koch A Pitts 1st g 6s...1921 F-A
Consol 1st g 6a........1922 J-D
Butt A Susa 1st ret g 48.U1951 J - J
Bur CRAN
bee C B i A P
I
Lion
e*i 6a
'2d 801st
6a.......*
77
77
Sale
Ro\\Lcnv
High
9i>% Sep ’09
104% J;Ue 03
....
102
8l
94
87
Iowa Div sink fund 6s.. 1919
Cony is (lull pd reots).. i960 J-D
102*4
10-year oou v g 5a
lol7'J-l> 1034 1094
Debentures4s 8eriea J.1912 F-A
Series K
....1913 F-A
94
East Okla Div 1st g 4S..1928 M-S
92 4 bale
Short Line 1st 4s g. .....l968j J - J
8 Fe Pres A Ph 1st g 6s. 1942 M-S *1064107
Atl Knox A N tie* LAN
Atlantic Coast 1st a 4S.A1P52 M-S
93% to J"
O
106
Nebraska Extension 4a.l927
A-O
A-O
Nov
Registered
*1995 Nov
Stamped
*1995 M-N
Cony 4s issue of 1909...1955 J-D
Uonv g 4s
1955 J-I)
811 Sp Oca A G gu g 4s ..1918
U L34
1949
..1949
Ills DIV 4s
bince
January l
....
ti
i960
Registered.
Registered....
Ala ba A1 ldi bee At Coast Line
Albany A Susa bee Del & Hud
Allegheny Valley bee Penn lUt
Alleg & West tie* Bull R A P
100
106
Chic Burl A <4—Deny D4s 1922
Illinois Div 34s.........1949
56
Railroad
4
J-J
Railway 1st lien 34s... 1960
96
90% 80%
40
J -J
j-j
M-N
J-J
1939
Range
or
ASH Low
1004....
Potts Creek Br 1st 4s..1946
a A A Div lstcou g 4a..1989
2d consol g 4s
1980
Warm 8pr Vai 1st g os..1941
Greenbrier By lstgug4s ’40
Chic A Alt BB ret g 3a...1949
...
'10
Aug’10
Hid
j-d
1939
Registered
General gold 4 4s
1992
1992
Registered
Convertible 4 4s (wh is). 1930
big banuy 1st 4a
1941
Coal Riv By 1st feU4S ..1945
Craig Valley latg 6a....l940
..J 105 4 109%
—! 1024 103 4
31 1054 no
1024 103 4
8
96-4 100
14 1014 103
‘
gu
1st eonsoi g 5a
99%
of $5 to £.
20! 964
984
9*%
10H% Sep ’10
102*4 J?ly * J 0
106%
196%
1024 Aug 10
98%
102 4
102%
*1987
os..1921
gen gagas 1920
A imp
Week's
Range
Last bale
Sept 9
A Hud R
J-J
Leh A Wilks B Coal 6S..1912 M-N
Cdn ext guar 44«....pl910 Q-M
N Y A Long Br gen g 4s 1941 M-S
Cent Pacittc
bee 80 Pact lie Co
CentVermont 1st gu g 4s.«1920
Chas A bay bee Atl Coast Line
Ches A Ohio gold 6s..,r~*1911
Gen funding A unpt 5s. 1929
tl
1004 196 ]00
-'84 all 96
lo3%JTy'!u ...J 103 4
95% 96% 96% Sep’10
94%
424
Le
944 964
j 934 95%
' 884 92 4
1014 104
H95
974
...
94 4
pr ices 0 n ttie b
100% Sale
9838 9b %
98 4 bale
1064 106*4
102-4 103Q
10634 Sale
102-q lU3%
984
10241024
Registered
211
5
B
6
Price
tYia.au
Ana Dock
100% 100%
102 4
102
96
103
71 95% 97
93 4
BON ON
N. Y. STOCK EXCHANGE
Week Endinh Sept 9
Cent ol Ga RR—(con)
Chau Div pur mou g 4»-19ol
Mao A N or Div 1st g 6s. 1946
Mid Ga A AU Div 6a....1947
Mobile Div 1st g 6a
10*6
Ceu BB A B Ol Ga OOl g 6s 1937
cent of N J gen’l gold os.1987
102 4 1024
100% Aug’lG
1931 J.J i 89 4 »a»*
Sterling loan 4s
Repub ol Cuba 5s exten debt.. MS X102 bale
97
San Paulo (Brazil) trust 5s 1919 j.j t
♦ **96% 97
U 8 ol Mexico s 1 g 5s ot 1899
Gold 4s of 1904
94% 954
1954
u hese
January 1
lOi
Aug’ 1 u
100% J’ne’10
1014 J’ne’10
1014 J’ly’io
115 4 114 4 Aug’10
115% 116 4 Sep ’10
i*l*6**
1925 J J X
4%s
1
%
Ask Low
1014
1011,
101% 102%
101% 102 4
Foreign Coveruuieitt
Argentine—Internal 5s of 1909 M-S X 964 97
imperial Japanese Governtn't
sterling ioun 4 4s
1925 F-A t 944 Sale
2d series
Range
Since
-a
Range
all—"and interest” —szoepl for income and defaulted bonds.
*66**
642
New York Bond
2
BONDS
«-S
N. Y. STOCK EXCHANGE
Wkkk KNoiNfi Sept 9
Wee/ctt
Range or
Last Sale
Price
Friday
S~pt 9
Hxa
Chic St P M A O—(Con)
A.8H
122
Ch St P & Minn 1st g 6s 1918
122
Nor Wisconsin 1st 6s...1930 J-J
St P A S City 1st g 6s...1919
11138
Chic & West Ind geng68ql932
107^112
Consol 50-year 4s
907„ 92
1952 J. J
Clue A W Mich See Pere Alarq
Choc O A Gulf See CRIAP
Oln H A D 2d gold 4*38...1937
100
Cin D A 1 1st gu g 6s...1941
103^
C Fmd«fe Ft W Jstgn 4sg.’23
85
Cin 1 & W 1st iru if 48.1953
Ind Dec A W 1st g 5s... 1935
104
1st guar gold 5s
1935
O l St L A C See C O C & St L
Cin SAC See CCCStL
Clear held A Alah See B R & P
92 7* Sale
Clev cm C & st Lgen g 4s 1993
Cairo Dir 1st gold 4s....1939
89
Cin WAM Div 1stg48.1991
02
8t L Dlv 1st coi tr g 4s..1990
90*3
Registered
1990
Spr A Col Dir 1st
W
104 *3
0 I St L. A C consol (5s.. 1920
1st gold 4s
fcl936
9*2 *3
Iu3
Registered
fcl936
Cm S & Cl con 1st g 6s. .1928
OOO&l consol 7s
1914
Consol sink tund 7s....1914
General consol gold 6s. 1934
Registered
lu6^
103
119
124
90
63
69
94
96
110
So
Low
Oct. ’00
113
J’ly 10 ...J1 ibi
lot
87 *4 Jan’10 ....I ! 87
107
Mar*10
106
107 *3 Deo 02 yjij
iba
92 7»
107
Registered
18
93*4
J’ly’io
90
90
91
96
90
Aug’10
94
J’iy’08
96*3
90
94*3
8934
9634
90
...
.
....
....
90
105*4 106*4
06*3 98*3
96
98
110
....
119
3
9
69
Sep TO ...J
16
96
11234 Ul»a J’ne’lO
....
May’10
89
63
65
93
94*3
94 ‘s
67
813s
977e
99
111*3114
iou
10-yrconr deb 4s
1916
1st lien equip g 4*28 ....1922 J-J
1st Aref 4s
1943 M
▲lb A Sus conr 3 *38
1946 A
Rons A Saratoga 1st 7s.l921 M-N
A R
1st
RRGrBridge
Pa RR
Eel Rir
See48.1936
con g
enr
9234
J
Consol gold 4*38
1936 J-J
Improvement gold 6s...1928 J1st A refunding 5s
1955 FRio Gr J uno 1st gu g Ss.1939 J •
Bio Gr So 1st gold 4s. ..1940 J •
Guaranteed
1940 J ■
Bio Gr West 1st g 4s
1939 J Mge and col trust 4sA.1949 AUtah Cent 1st gug 4s al917 A-
Des M01A Pt D
9l34
96
91*4
87 a4
92
92
123*i
1^8*3
112
....
a
113
...
....
....
23
114*8
117
120*8
79
78
89*a
85
88
01*4
Peb’Ub
Dec '00
MaPOb
b8
84
83 *3
AugTO
97
Jan'02
110
94
89
74
8ep '04
103
06*3 100*3
8
7
91
97*3
1 123*4130*4
8
Sep’iu
101
01
98
96*3 102
100
#t-.
Q2H 97*4
103s* 104*3
100
20
90*t
i
87*4
83
Dol A Iron Range 1st 6s..l937
94
90
65
92
75
108*s
106
04*s
04*t
84*«
....
J -J
106»a Sale
100*3
M-N
107*3
113
A
J
82^
71*3
72
70
87
70
65
74
111
1 106*3107*4
J -J
A-o
A-0
J-D
M-N
J-J
N x A Green L gu g 6s.1946 MS
NY Sus A W 1st rer 58.1937 J-J
2d gold 4*33...
1937 F-A
General gold 6s
1940 P-A
85
64
109
li L*3
J’ly TO
118*4 122*3
J’ne’lu
100
106*4 Mar’lu
Mar’lu
106*4 Jan To
luO
98
98
82
M-N
M-N
106
WilkA Ea 1st gug 5s. 1942 J-D
96
100
l06:,4 1067s
103
*
103S
1U6*4 106*4
9999*4
m*m
Aug’UO
124
b^*3
82*3
12
80*4
87*3
67
7 6 *8
83*3
86*4
Nov’09
71*3
85 s. P©b’07
86 *4 Aug’10
69
Aug 10
3
64*3
65
1155g 113’b Mar’io
L 11*3
11183
9
71*3
64
66
113 7g
2 Uu
83
73*3
113 **.
115
I22*a AUg’10 ...J 120
!
11334 114 Apt TO
114
1
103 *3 Oct ’09
105
103 *3 J an To
103*8
99 *a 99
09
Sep To
•***!
100*4 Dec’Od
1
89
86*2 80 J’ne’10
108*yMay’10
108*3
95 *4
97
J’ly’09
96 78 Sale
95**
96*4
95 7e 199
95^ 48
Aug’1 u
04*3
94*4
97*3
96t3
ioi*i Mar’iu
98
104
04
J-D
A-O
07
93*8
‘
9.3
100
125 *« 128»4
lb*334 *107 ***
100*3 101*3
98
100*4
99**4
9934
114*3
Aug’10
113
125
136*4 -.06
1 lU34 113-4 110
J’ly’10
110
112*8
123»4 130
J-J
J’ly to
Apr ’09
Aug 10
1U8j4 J 'ne'u9
100*4
10U*8
98
Aug’10
100*4 uot 'ob
9534 Jan ’lu
114*3 t-eu’i u
100*g
J-D
'
100
125
110
89
116
J’ne’oy
89
Apr ’ 10
129
11373
87*4
947s
1003, 101
99 78 104
10034 Sep ’10
100*3
’ub
95*3 May’10
09*4 teu’09
93
94
95
95*a
105*4
Registered
1951 A-O
1951 M- S
A-O
A-O
M-N
’*96*'
M-N
97a4
1952
Registered
1952
1st ref 4s
1965
L N O A Tex gold 4s ...1953
Registered
1953
Cairo Bridge gold 4s....i960
99*4
M-N
J-D
LomarDivATerm g3 *38.1963'J - J
;....1961> J - J
1951 J-J
1961 J*J
Gold 3*as
86
Registered
Spring Dir 1stg3*3S...1961l J-J
Western Lines 1st g 4S..1961
Beller A car 1st 6s
1923
Garb A Shaw 1st g 4s... 1932
Clue St LAN O g 5s...1961
Registered
1951
Gold 3 *3»
...1951
104
90
92
94
Sep ’ov
93*3 May’u9
80
J ’ly '09
99
Aug’10
99
10034
96
97 *4
99«fc
lOOafc
87*3
88-s
7734 Mar'lo
79-4 Dec’08
77*4
77s4
8y
Feb’10
101*3 ucl ’99
88-4
89
95
98
96
99
97
99*4
97
96*e Aug 10
98*4
ua*»
97
May’u7
luO
..
85
102
Middle Dirreg6s.......l921'P*A
Omaha Dir 1st g 3s
1961 F-A
St Louis DirAterm g 3s. 19511J - J
Registered
J’ne’io
107*6 Ay: 'Of
92
Aug,10
104
87
90
'123
89
J*D
100
95
M-S
J-D
116
112
J-D
116
J-D
Memph Dlv 1st g 4s...1951 J *D
St L Sou 1st gu g 4s
1931 M-S
Ind BlAWest SeeOCUASlL
Ind Ill A la 1st g 4s
1950 J-J
Int A Great Nor 1st g 6s..1919 M-N
2d gold 5s
1909 M-S
Trust Co oertfs
I ....
92
107
18**
104
Aiuy’99
jNov’OO
J’ly’lu
T17 *3 May’10
I
99
116
118
90
97 *4
98
117*3117*3
r-eu’10
90
11434 110
Mai’10
Oct ’09
118
Mar’lu
J’ly’ub
19*3 Aug’10
J’iy lo
69*4 Aug’lb
103
70*
99
Aug’10
90
96
May’10
107 *»4 108*3 J’ly TO
lio
May’lG
balo
no
107
18*s
18
Apr’09
| b7*»May’lo
85
93*3
116
F-A
Jue'UU
118
97*3
97*3
95
9a
108*3 110
106*4 112
I0b\ 112
19*3 3fi
102
loti
60*4 71
an A Mich
Sec Tol AGO
KOFtSAM SeeStLASP
KCAMKAB See StLASP
Kan C A Pacino see MEAT
City Sou 1st gold 3s..I960
impt 5s Apr 1950
Kentucky Cent see LAN
J-J
J-J
North Ohio 1st gu g 6».. 1945 A-O
L Sho A Mich S see N i centi
Leh Vai K Y 1st gu g 4 *us. 1940 J - J '
iu40 J-J
xtegistered
iMhigh Vai (Pa) cons g 4s. 2003 M-N1
Leu V Ter Ry 1st gu g 6a.l04iA-O
Registered
1941 A-O
Leh V Coal Co 1st gu g os. 1933; J-J
Leh ANY 1st guar g 4s..1945 M-S
Lake
Erie5s
A W 1st g 5s..1937
2d gold
iy41
Registered
.....
Leroy A Cauey Vai See Mo P
uong Dock See rune
104 >2
LAing
Isl’a—1st con
g
1st consol gold 4s
General gold 4s
101 *3 101 *3
„
.
1945 M-S
1914 A-O
1914'A-O
103*3
108*4
ibf *
A-O
Keok A Des Mo see C R 1AP
Knoxville A Ohio See so Ry
El C A N 1st pf 6s
Gold guar 6s
Leh A Hud R see Gent of N J
Leh A Wilkes6 see Cent of N J
03
7214
1960
68./il93l'Q.J
Ferry gold4*as
Uuilied gold 4s
Debenture gold os
on
Next
73
72*a
63
sale
101
72*3
Oct ’oo
101
108*3 111
108*3
108*3!
1o6°k lUbHiMarTo!
106
114
10534 I08*s
A.ug'09
97*3 Apr TO
06*3
90
102
100
101*3 Feb’10
101*4 acp ’09
109
/il93l ' <J-J
1938' J-D
1922M-S
*9*6*
1932' J-D
iy49 M-S
**90*
108*3 112*^
MaxTo
114
J’ue’iO
11334 109 *3 Oct ’99
108
Nov’o9
96
9334 Mar TO
iu6
09*3 103
10534 J’ne’10
107
112
74
106*3 107*3
108-3 112
109
96*4
71*s
112
Feb TO
LU
97*3
115*4
03*4
yo
101*3 101*3
112
112
101
96*a
loo
93
96
1934' J-D
96
May’10
iou *3 Eeb’io
99*4 OCt '06
93*3 Mai To!
104 *3 Dec ’081
96
97 34
106*3 100*4
100 *3
100»4
83*4
83*<
90*3 103*4
87
80
110
111*3
100*4 101*4
95
98*3
Page.
Gas and Electric
J-D
Vl-h
A-O
ioft
6003
J-J
J-J
F-A
,JI-b
J-D
F-A
M-N
Kan City (Mo) Gas 1st g 5s 1922 A-O
Kings Co El LA P g os... 1937 A-O
Purchase money 6s...... a997 A-O
Ed El 11 Bkn 1st oon g 4s 1939 J-J
Lao Gas Loi St L 1st g 6s.el91y 0-F
Ref and ext 1st g 6S.....1034 A-O
Milwaukee Gas L 1st 4s.. 1927 M-N
Newark Con Gas g 6s.... 1948 J-D
87
103*4.
1951 J-J
1951' J-J
1951 J-J
Extended 1st g 3 *38
1st gold 3s sterling
Coll Trust gold 4s
MISCELLANEOUS BONDS—Continued
♦No prioe
92
g4s..1951' J-J
Gold 4s.....
1)
Gas amt Electric Light
Atlanta G L Oo 1st g 63...1947
Bklyn U Gas 1st con g 6s. 1946
Buttalo Gas 1st g 63
1947
Columbus Gas 1st g 6s.... 1932
Detroit city gus g 6s......192o
Det Gas Co oon 1st g 6s...191b
Bq G LN Y 1st oon g&s..l932
Gas A Eleo Berg Uo eg 68.1949
Gr Rap G L Co 1st g 6s... 1916
Hudson Co Gas 1st g 6s.. 1949
88*3
86
See So Pac Co-
127
114
Dec’Ob ...Jl
121
121*3
102*«
Han
A St J oSeeSeeN 0Y 3*
ousatonic
N Hy
A H
Registered
105
81
J-J
Long Dock consol g 6s.. 1935 A-O
Coal A RR lstcurgu 68.1922 M-N
Dock A Imp 1st our68.. 1913 J-J
TernunaUsT,gold5s...1943
Regis $6,000 each...1943
12034
8i-*4
101
Kai A A G R See L b A M s
106*3
y934 Feb’lo
M-S
J-J
Hi ad
Mai’lO
1
123*8 12734
Will A S P 1st gold 5s 1938 J-D
Greenbrier Ry See Ches A O
Gulf A si 1st ref Atg 5s 61952 J-J
Kan
102
So-Low
Oct’09
Aug’10
98
8d gold 4s
1921-M-S
Iowa Central 1st gold 6s.. 1938 J-D
Gold 4s
1951 M*S
Dec’09
119
100
J-J
Q-J
J-J
J -J
J-J
J-J
J-J
M-N
1937
1937
Ref A
1996 J-J
F-A
Penn coil tr g 4s
1951
50-year conv 4* A
1953
do
Series B.1953
Butt N Y A Erie 1st 7s.. 1916
Chic A Ene 1st gold 5s.. 1982
Clev A Mahon Val g &S.1938
....
07 7e
01
J-J
M-S *118*3
M-N 100
1919 M-S 101*3 106
08
1923 M- S
2d ext gold 5s
8d ext gold 4 *38
4th ext gold 5s
.".1920
5th ext gold 4s
1928
NYLE AW 1st g fd 78.1920
Erie 1st con g 4s prior..1996
Registered
1996
1st oonsoi gen lien g 4sl996
04
88
72
106
rfI1
Feu To
107*4 Aug’lU
106 *s Mar'Ob
1937
2d 6s
1916
Dol Short Lone See Nor Pao
Dol So Shore A Atl g 6s..1937
L'astot Minn seeStPMAAl
Fiast Ten Va A Ga See So Ry
Elgin Jol A East 1st g 5s. 1941
ElmCortANo See Leh ANY
Brie 1st oonsoi gold 7s.... 1920
NY A Bne 1st ext g 4s 1947
AugTO
J’ly'lu
Registered.
Istguur gold 6s
I iliuois Central 1st
1 Registered
1st gold 3*38
107*4 110*3
973* 101
120
....
Mum Union 1st
g 6s.. 1922
Mont C 1st gu g 68
1937
HonstATexCen
106
109^ 111*4
94
94
104*3 Mar’10
101
Sale
••••••
Gold 4s
1995 J •
Det SO—O S Dlv 1st g 48.1941 M-S
Registered
Aug’Ol
97*3
06
100
J’ly'lu
98*3
93*4
104
Since
January 1
92
86
84
Hock Val 1st consol g 4 *38.1999 J-J
Registered
1999 J - J
Col A H V 1st ext g 4s..1948
A-O
Col A Tol 1st ex 4s
1955 P-A
Houst E A W Tex see So
Pacj
see M A St L
DesMoi Un By 1st g6s.,1917 MDet A Mack 1st lien g48.1995 J-
Registered
107
I096fl J’ne’lO
HI
112*s 112 J’ne’10
127
J’ne’05
86
94
Sep 'Ob
116
12038 116 J’ly’io
107*4 108
107*4 J’ly TO
97*3 99
98
J’ly TO
102*3 Feu’03
118*2 120
120
Mar To
See sea A Line
See So Ry
Gila V G A Nor See So Pao Co
Gour A Oswegat See N Y Cent
Grand Rap A Ind See Penn RR
Gray’s Pt Term See St L S W
Gt Nor—C B A Q ooll tr 4s 1921
Registered. A
1921
St Paul M A Man 4s....1933
1st consol gold 6s
1933
Registered
1933
Reduced to gold 4 >38 1933
Registered
1933
Dakota ext gold 6s
1910
Mont ext 1st gold 4S..1937
Registered.
1037
EMinnNorDivlstg481948
...J
AugTO ....1
69
95
95 7«
Sale
•••
....
90
90
63
70
95*3
•
AugTO
OO! '07
Deo’09
May’10
i 19
63*2
97 *3 8ajb
100
LOI
9S34 0a!(.
92
bale
1*23*3 bale
sign
Range
Georgia Pacitio
90*3
149
1917
A sic Low
114
86
I * al Har ASA See so Pac Co
'■al HA Hof 1882 1st 58.1913 A-O
Georgia A Ala See sea A Line
A AGtWaco
Dak
So seeSee
C MMEAT
A St P
alias
Term Aimprore 4s....1923
Warren 1st ref gu g 3 *38.2000 F-A
Del A Hud 1st Pa Dir 7s. 1917
or
Last sat*
109
115
Dec'09
100*4 101*3 101 *a J’ne’10
114
Apr *05
96
J’ne’Ub
St U D Co 1st g 4*as.l94l J-J
Ft W A Rio Gr 1st
8*7 *4 Ifnrt
g4s... 1928 J-J
94*3 Aug’OU
100
Del Hack A WesternMorris A Essex Ist7s...l9l4 M1st consol guar 7s
1915
Registered
1915
1st ref gu g 3 ^s
2000
N Y Back A W 1st 6S...1921 J-J
Construction 5s
1923
Rid
105
* Ind 1st con gug 6s..1926 J-J
Erie A Pitts See Penn Co
Evans A T H 1st cons 68.1921 J-J
1st general gold 5s
1942 A-O
Mt Vernon 1st
gold 6s..1923 A-O
Suil Co Branch 1st
g 5s. 1930 A-O
L'argo A So See Ch M A St P
4 lint A Pere M
See Pere Mar
Fla C A Penm See Sea Air Line
---■I
S-!
Range
Sept 9
tiiqli
iJ
Week's
Price
Friday
Ga Car A Nor
Sale
Cuba RR 1st 60-yr 5 g....l952
N. Y. STOCK EXCHANGE
WttKK enimnu Sept 9 •
....
1934
ind Bl A W 1st pref 4s. 1940
O Ind A W 1st pf 5s...R1938
Peo A East 1st con 4s...1940
Income 4s
1990
Cler A M arietta See Pen n R it
Pitts
Oler A
See Penn Co
Col Midland 1st g 4s
1947
Ooloradj & Son 1st g 4s...1929
Reiund A ext 4*28
1935
Pt W A Den C 1st g 6s..1921
Col urn A Green r see So Ry
Coi A Hock Vai See Hock Val
Col A Toi See Hock Val
Ool Conn A Term See N A W
Conn A Pas Hire 1st g 4S.1943
BONDS
Since
J’ly TO -•4^i 123 127
129*^May’09
1U34 Aug’10
I!ill34 1148s
108*3 J’ly TO -—'108*3 112
88
ytf Hi
91 *3 Aug’10
1U5*4 Peb’10
96*3 Aug” 0
96
Aug 10
109*e8ep '09
109*4 Deo'09
96-3
Range
Janvarv 1
H igH
Low
123
lbo*i
4s..1940
W Vai Dir 1st g4s...1940
g
0 0
[VOL. LXXXXT.
Record—Continued—Page 2
Friday; latest bid and
99
97
62^
ibi
Light
NYGELHAPg 6S...1948
105
Aug’lO
6003
6U^ *6
101
Apr’lu
960b Sep ’08
106*4 105*3 101*4 J’ne’10
98
162 /
97
iob
_TT111
ldl1*
112
61 *3 Oct ’01
100
Oct ’09
10 L*s Aug’lO
97
Mar’10
101
115
90
90
09
100
90*,
108^
*0
09
91
asked this week,
a
ibi
tUl*8
105*2
<00
‘it
Apr’io
••••••
6U*% 67
ibi
97
Mar’lo
101*4 101»4 101*3 Aug’lC
ib7'*4
4
ib*i**3 ib*33,*
Aug’10
Aug’lu
112
105
••••••••
Due Jan
97
101
110*4116
87*4 90
LOO*3 lu5
99
91
101
02*3
*••••••••«••
6 Due Keb
J-D
Purchase money g 4s...1949 F-A
Ed Ei Hi 1st cons g 03.. 1995 J-J
N YAtjEl LAP 1st con g 5sl930 F-A
N Y A Rich Gas 1st g 58.1921 M-N
Pacifio G A Eleo Co Cal G A E
corp unifying A ref 5s l»3. M-N
Peo uas A c 1st con g 68.1943 A-O
Refunding gold 5s
1947 M-S
Ch G-L A Cke 1st gu g 5s 1037 J-J
Con G Co of Cb 1st gu g 5s. ’36 J-D
Ind Nat Gas A OR 80-yr 6s ’36 M-N
M-N
Mu Fuel Gas 1st gu g 5s. 194
Philadelphia Co conr 6s ..19 L0 P-A
Syracuse Lighting 1st g 5s.’5l J-D
Trenton G A El 1st g 5s.. 1949 J- b
Union Elec LAPIstg6s.l932 M-S
Westchester Light’g g 68.1950 J-D
d Due Apr
e
Due May
h Due j’ly
10034 Sale
83
84
Ill3*
111
Ang’lo
100*4 viai’lu
97*3 J’ly’00
91*3 92
116
119
101 *« 1U2
104*
92
913* Sep Id 814 91
116S Aug’lu
110*3119
LUl *3 "ep 'it
101 ** 104
103
J’ly Ti101*3 May’lb
94*3 Aug’09
100*3 102
90
98
98
101
LOO
98
101
UO
06
100
98*«
1021
k Due Aug
q
lo27e 104*4
100*4 102
Mai’lo
10T* ibi"
Aug’lu
Aug’l Q
100
98
105
100
100
100
Al ay
'06
Jan '08
J’ne’lo
Due Deo
t
OnUon Mala
Sept. 10
1910.]
New York Bond
"3
BONDS
wa
Guar ref gold 4s
Q
Prioe
Week's
Friday
Sept 9
«l
Rta
1949 M-S
Range
or
Last Sale
A Ik
Low
964 dais
M-S
1911 M-S
1935 A-O
1927 M-S
103
100
101
Si
Mahon
Coal KySee
L 8 4s.
A M1990
S
anhattan
consol
Registered
109
97
96
Sale
il'34
112
1024 103 4 103
1184 1244 124
68
92 4
904
J-J
F-A
F-A
M-S
Sale
1104
114
*90*
1990 A-O
g Os..1923
MoM M W A Ai 1st 6s..1917
TAP Branoh 1st Os....191^
Nash Flor A Shel see LAN
Nat Rys of Mexpr 14 4s 1957
Guar gen 4s
1977
Natoi Mex prior lien 4 4s. 1920,
1st oousoi 4s
1951
New DAD see N Y N 11 * 11
N J J uuc R R See N Y Cent
N Y Bkln A Man Bch See L i
N Y Cent A H Rivg 3 4s.l997
J-J
J-J
964
98
984
99
113
114
91
974
1064 111
1104 Mar’lO
1094J’iy’lu
90
Aug’10
1104 1104
1094114
88 4 90
964 Sep ’10
934 984
104
Apr’05
06
4 Sep MO
89 4
92
94 4
Registered
75
ibo" lob*
West Shore 1st 4s
i'04"
05
131
MayMQ
118
Jan’07
1004 J’ly’10
104*8 104 Aug io
7o
75
Ma/'lu
81
98
884
93
07*4
974
83
83*,.
83 4
Sep MO
1004
id78 784
a°u4
1UU4 lot
4
85
85
734
Apr’09
100
105
J’ne’10
io7
92
100 4 106
Apr’10
Aug’iO
103
J'ly MO
102
1U0*4 10o
78
78
i-3
Sale
88 4 014
Mar’06
May’lo
FebMo
100*4 Sale
14
106
•
••••«.
84
107
111
102 4
96
914
95
86
87 4
98
113
1004
111
Sep’oy
834 83 Sep MO
85 4 844 Sep ’10
1024 Jan’iu
08
Dec’06
1144 1104 116 Aug'lu
lil
114 4 117 4 MarMO
b6
87
87
May’10
103
100
108 4 Mar’lu
82
May’08
75
96
96
J ne’10
81
86
824
874
102 4102 4
115
12
L
4
11741174
87
00
1084 108
95
96
ASusq Iron
Debenture 5s
r
s
1064 107
108
HO
U54
*1064
.....
J-J
95
AO
J-J
A-O
io74J’iy’io.... 10741104
10S4J’ljr’10!.... 10841104
1164 May’U7!....l'....
1174 Mar’051...."
054
83 4
87 4
102 4
85 4
i
1
354 106 934 954
J 87 4 92 4
Sep ’lj
Mar’lO
101*4 102-4
834
.
83 4
82
1
85
1
|
88
67
Sale
89 s,
88
96S
814 Sale
95
81
95
80
8S4
874
864
8
864J’iy’io
95 4
814
78
78
794
904
95*4
82 4
78
80 4
92
8
17
20
2?
i5s....1032 J-D
do 1 Co gen s l g
a 1020 M-S
6s.. 1946 F-A
Convertible deb g 6s....1911
Col Indulst* coll os gu..l934
Contin’taiC 1st si gnos g.1952
Gr Riv Coal * O 1st
g 6s..1919
Jett*ClearC& 11stg68.1926
Kan * H C * C 1st s t g 5s.l9ol
Pocali Con Collier 1st a t 5s.’5 7
Sunday Creex Co g 6s....1944
Tenn Coal gen 6s
1951
Tenn oiv 1st g 6s
al917
Birm Div 1st consol 6s. .1917
Calx U -M Co 1st gu g 6s. 1022
De BarC * 1 Co gu
g 6s. 1010
^otor Fuel 1st s t 5s
1953
patron Coal AColst g 6s.1949
*No price
Friday; latest bid
F A
F-A
F-A
A-O
J-D
J
•
75
90
70 4
100
99
82
J
A-O
J-J
J-D
F-A
J-J
MB
80
Jan ’08
104
J’ue’iO
102 4 102 4 Feb'in
85
85
92
107
110
104
104
10141024
Sep '10
85
J’ue’09
J’ne’09
115
* 934
125
Feb’08
102
Apr’lo
90 4 Sale
90 4
90 4
88
884 884 Aug* 10
93 /Sale
924
93
924 Sale
92*4
93
994100
100
00
014
102
024
88
02
92
95*4
95*4
00
00
87
89
024
110
02
109
Oct ’07
Deo’09
1304 Jan’00
100-
100
J-J! 107
M-S
1094
1084
115
119
99
Oct ’09
J’ne’06
Jan ’lu
Deo *09
J’ne 08
08
......
90
89 4
82
904 914
87
00
Apr’10
90
90
9741004
1334 Sale
994
1114
1004
95
13234
99
Q J
Registered
.a2047 u-F
St Paui-Dal Div
g 4s....1996 J-D
Dui short L 1st gu 6s.. 1916 M-S
C B A u coil tr 4s See Gt N or>
St P * N P
gen
g 68....1923 F-A
Registered cerUfio’s..l923 Q-F
St Paul * Dui 1st 5s....1931
F-A
611 964 1034
994
Jan’lo
116
107
--.116
116
05
98
Aug’09
*2 123
97
Mar’lO
Feb’10
112
‘Jd 6*
1917 A-O *103
1st consol gold4s.
1968 J-D
Wash cent 1st g4s
1948 O-M
92
Nor Pao Ter Co 1st
g 6s..1933 J-J
110
N or Rv cal see 80 Pao
Nor wia See C St P M * O
Nor * Mont See N Y Cent
1264
12441264
...nl23 1244
004100
97
91
07
934
65 0441084
6i 864 904
1044 100
....
04
67
064
99
1024
984 101
00 4 74
724 724
064 974
00
09
9
17,
1164 1164 Ang’10
115
10.14
...;
1004 101
984 984
984
714 Sale j 714
7a84
70 I 724 Feb.’10
094......| 99
TOO
...
Sale
101
02
6 130*4 1354
1334
904- 974 Aug’10
1014 J ue’Uti
ol992 M-S
■Registered
1997 (J-J
General lien gold3s....a2047
Q-F
00
994 1024
0641004
11641184
117 4 117
Feb'10
117
117
110
103
J’nelo1
110
103
UO
95
I
1
Aug'lJ
064 Apr’10
103*4
964 974
92 4 Jan’U9;
110 4 Aug’;0
11U41104
j|lna*W 6'«0t!O&StL
pao Coast Co 1st g 6s....1946 J-D1 10241044 1044 Sep *10
-k ao of Missouri See
Mo Pao
Penn RR 1st real est
g 4s. 1923 M-N'
1014102 Aog’10
Oousoi gold 5s
1919 M-8
lu94Jan’09
Consol gold 4s
1943 M-N
102
100
Feb’10
Convertible g 34s.
1912 M-N
994
98*4
99 Aug\0
Convertible g 448
1916' J-D
964 sale
95 4
95*4
Consol gold 4s
1948 M N 102
sale 102
10*4
Aiieg Vat gen gu g 4s... 1942 M-S
102*4 Apr’lo
D R R R* BgelSi
gu 48g.’36! F-A
94
PhiiaBai* w 1st g 4s.. 1943 M-N
1004
103 4 Dec’09
80a Bay * so 1st
g 5s...1924 J - J
loo
I02
Jan’03
UNJ RR* Can gen 4s. 1944! M-S
103 4May’10
Penn Co—Guar
1stg448.1921 J-J 104 sal© 104
1044
Registered
-
104
103
Sale
4100
06
93
70
....
VV
'J O
UV
A
744
76
1074 Deo’o
1024 Apr’0.
107
May’97
1054 Deo’00
83
78
1004102*..
102
104
J’ue’10
Feb’07
....
6
Guar 34aooll trust
reg. 1937;M-3
Guar 3 4» coll tr ser B... 19411
F-A
Tr Co cerut’s gn g
3 48.1916 M-N
Gu 34s tr ctfs C
1942' J -D
Gu8 4s tr ctfsD.........1944! J-D
89
884
964
85 4 90
87*4 89
Jl.
....'100
108
i 9»4 102
044 974
47 101*4 1044
....1024 1024
....
117!
,.
91
103
6 103
103*4 Feb’10
90
Aug'lJ
89Viy’io
9o*4AugT0
Aug 10
1 87
1
1034
....
104
106
T034 103*4
90
89 4
90
00*4
87
97»*
72
844
914
90
Dec ’00
Next Page
•
• ••
'83" *83'*
....
ibT
Aug’l
104
1
•
•
103
aDneJan 6 Due Feb
....
....
«
1044
107
103*8 107
LOO
88
100
984
964
824
Allis-Chalmers 1st 5s
Am Ag ohem 1st o 5s
Am Cot OH ext 4 4s
Am Hide* L 1st sf
1930 J-J
1928 A-O
1916 4*F
g0a.. 1919 m-a
g-6s.,1925 A-O
Mfg 1st
....
and asked.
on
Amer Ice secur deb
Am Spirits
100
97
1921! J-J
10241084
102
Manufacturing * Industrial
90
084 101
074
J-J
J-J
J-J
954
1064 106
1074
934
Oct ’09
954 Ang’10
M-N 1004
101
May'10
M-N 1244 195 ,1234 J’iy’10
126
F-A 122 4 123
Mar’lO
A-O 120
123
May’10
08 4 99
08
A-O
Aug’10
Registered
1996 A-O
97
Apr’lo
Div’llstl*geng4s...l944 J-J
914 "0*24 92 Aug’10
10-25 year conv 4s.... 1932 J-D
99
99 4 09
994
Pooah C * C joint 4s..1941 J -D
864 dale
87
864
GO* T 1st gug 6s.
1922 J-J *1044
106
.pr’
Scio V & N E 1st gu g 4s 1989 M-N
04
024
’ly’
North Illinois See Chi A N Wi
ililSCELL kNEOUS BON DS—Continued
O01
03
\Jhio Riv RR see Balt * o
Ore * Cai See So Pao Co
Ore Short Line See Un Pao
Oswego * Rome See N YU
Coni and Iron
Butt
084 994
*02
984 99
084
934
100
964
Dec '09
1937 A-O1
89
1931 M-N
S 91
90
J’ne’10
gu...2361 J-J 1014 Sale 1014 102
97
2361 J-J
974 074
974
North Ohio See L Erie * W
|
Nor Pao—Prior lien
g 4s..1997
89
oct
Ang’10
1314 Jan ’09
1064H04 107 J’ly’10
See N Y C & H
N Y * R B see
Long Island
N Y 8 * W See Erie
N Y Tex * M See 80 Pao Co
Nor * 8outh 1st
g 6a
1941
Norl * West gen g 6s
1931
Improvem’t * ext g 6s..1934
New River lstg 6s
.1932
N * W Ry 1st con
g 48.1996
113
1054110
1u64
1064
1064
ioo
75
954 Nov’OS
024
93
92
J’lyMO
HO
105
994 994
1024
814
AugMO
73
89
98
10/s 113
iuo
93 4
113
loo
824 844 8?4May’lO
105
904
.103
1074
100 4 106 -j
IO04 ’’ale 1004 ii/04
100*4 ou^Mar’lo
77
854
86 4
106
*
Regia *6,000 only
NY* Put
784
iu5
90
1U4 4 102
Aug’10
109
110 4 Apr ’uO
106
105 MarMO
109
108 AugMO
108
874
105
Mai '04
106
93
108
110
97
95
122
120
i
NY* Green w Lake See Erie
NY* Har See NYC* Hud
N Y Lack * W See D L * W
N Y L E & W See Erie
NY* Long Br See Cent of N J
N Y N H* H—Conv 6s.. 1948 J-J
Conv deben 34s
1956 J-Ji
Housaiomc R con g 5s..1937 M-N
N H * Derby con
cy 5a.l9l8 M-N
NY* North See N YC * H I
N Y O * W ref lstg
4s..pl992 M-S’
96 4100
82
1U0
»5
86
88
90
14
974
0
131
964100
98 4 984
Jan’10
97
Registered
IO04 101
1024 109
75
814
87
914
Mar’lu
87
064 08
84
131
824
79*8 794
074 084
Ang’10
974 Aug’10
------
Debentures 4s
131
101
High,
974 Apr’09
J-Ji
Registered
1940 J-J 1
J L & S 1st g 348
1961 M-S
1st g 3 4s
1952 M-N
20-year deb 4s
1929 A-O
Bat C * Slur 1st gug 38.1989 J-D
N Y Chic* St L 1st g4a 1937
A-O,
77
High. A 0 Low
79
1
78
984 J’ne’10
107
1931 Q-M
1940 J-J
4s
964 984
274 314
79 4
102
J-J
A-O
J-J
J-J
Since
January l
844
1931 M-N
KaA*GRlstguo5s.l938 J-J
Mahon C’l RR 1st 5S..1934
Pitts * L Erie 2d g 5s.al928
Pitts McK * Y 1st gu 68.1932
2d guar 6s
68
1934
McKees* BVlstg6s 1918
Mich Centos
1931
994
79
794
106
1997 J-D
1928 M-S
Debenture g 4s
25-year g 4s
Registered
J-J ♦1064
J-J
Registered
....1997 J-J
Deben g 4s
1934 M-N
Lake Shore coll g 3 4s...1998
F-A
Registered
199a F-A
Registered
Low
79
1936 J-J
Rut-Canad 1st gug 4s. 1949 J-J
St Law * Adlr 1st g 6s. 1996 J - J
2d gold 6s
1996 A-O
Utica* Blk Riv gug 4s. 1922 J-J
Lake Shore gold 3 4s....1997 J -D
105 4
Range
or
Last Sale
96
Og*LChamlstgu4sgl048 J-J
95 4
96
102
084 Aug’10
76
1254
1074 1104
3l 4 May’ Lo
25 4 Apr'09
77
Mar’lO
SO
Feb’08
100
May Mo
26
106
Aug’10
904
904
1064 Aug’lU
954 964
A-O
Stinpd tax exempt.. 1990 A-O
MoK’pt A B V See N Y Cent
Jasper Branch 1st
MarMO
102
106
98
F-A
1114 112
71
May’09
92 4 Aug’ 10
116
J’ly 06
110
Jan’09
9*4 97 J’lyMO
1054
110
103
124
1074 MarMO
113
Sep MO
75
94
100
103
J-J
107
J-J
Week's
Range
A 8k
1998 F-A
Registered
Jan '09
120
1054 110
1134
Registered
2d gu gold 6s..........1936 J-J
Beech Cr Ext lstg 3 4s 61951 A-O
Cart * Ad 1st gu g 4s...1981 J -O
Gouv * Oswe 1st gu g 5s 1942 J-D
Moll A Mai 1st gu g 4s.. 1991 M-S
N J Juno R gu 1st 4s.;.1986 F-A
N Y A Harlem g 84*—2000 M-N
NY* North 1st g 5S...1927 A-O
N Y A Pu 1st con gu g 4s 1993 A-O
Nor * Mont 1st gu g 5s. 1916 A -0
Pine Creek reg guar 6s. 1932 J -D
R W A Coon lstext6s.A1922 A-O
Oswe * R 2d gu g 5s...«1915 F-A
R W*OTRlst gug 68.1918 M-N
Rutland 1st con g 4 4s.. 1941 J-J
Nov’06
Nov’OP
100 4 Deo’09
109 4
.
Beech Creek 1st gug 48.1936
J’ly’10
J’lyMO
Apr MO
45*
_
1 1124
H34
1164
Apr Mo
114
114
974
974
974 64 964 1004
100
984
May’OO
107
Price
Friday
Sept 9
Hia
High. N Y cent * H R—(Con)
'
944 100
Mich Cent eoU g348....J998 F-A
114
1064
•0®
Low
Sale
ioi’4
Nash Chat A St L 1st 7s.
1
964
1134
1124
J-J
Geuerai gold 4s
S
193c
Montgoui Dig 1st g 6s..194 F-A
St L A Cairo coll g 4s..«193u
F
Guaranteed g 4s
J
1931
MAO coU 4s See Southern
Mohawk A Mai See N Y C A H
Monongaheia Riv see BAG
Mont Cent see St P M A M
Morgan’s La A T See S P Co
Morris A Essex See Del LAW
J-J
1913
1st consol gold 6s
192a A-O
Ho
1014 Dec’08
1104^ot’06
105
Apr’07
107
M-S
Mex Cent cons g 4s
1911 J-J
1st cons inog 3s
al939 J’iy
2d cods ino g 3s trust roots..
Mex Internalist cuu g 4s.1977 M-s
Stamped guaranteed... .1977 M-S
Mex North 1st gold 6s....1910 JO
Mich Cent See N Y Cent
Mid ot N J
See Erie
Mil L S A VV
See Chic A N W
MU A North See Ch M A St P
Minn A St L 1st gold 7s.. 1927 J-D
Pacific Ex 1st gold 6s...1921 A-O
South West Ex lstg 7s.1910 J-D
1st consol gold 5s
1934 M-N
1st and refund gold 4s..1949 M-S
Des M A Ft L> 1st gu 4s...’35 J-J
MinnAStLgu See B C R A N
M St P A S S M con g 4 int
gu '38 J-J
M S S M A A 1st g 4 int
gu 1920 J-J
Minn Uu See St P M AM
Mo Kan A Tex 1st g 4s...1990 J-D
2d gold 4s
01.990 F-A
1st ext gold 5s
1944 M-N
1st A refund 4s
2004 M-S
Gen s 1 4 4s
1936 J-J
St L Div 1st ref g 4s....2001 A-O
Dal A Wa 1st gu g 5s...1940 M-N
Kan C A Pao 1st g 4s...1990 F-A
Mo K A hi 1st gu g 6s... 1942 A-O
M K A Ok 1st gu 5s
1942 M-N
M. K A Tol T 1st gug6s.1942 M-S
Slier Sh A So 1st gu g 5s. 1943 J-D
Tex A Ukia 1st gug 5s... 1943 M-S
Mo Pacific isi con a 6s ...1920 M-N
Trust gold 6s stamped.al917 M-S
Registered
ai9l7 M-S
1st ooU gold 5s
192U F-A
40-year gold loan 4s
1945 M-S
3d 7s extd at 4%
1938 M-N
1st A ref conv 5s
1959 M 8
Cent Br Ry 1st gu g 48.1919 F-A
Ceu Branch U P lstg4s. 194h J-D
Leroy AC V A L lstg 5s 1920 J-J
Pao B of Mo 1st ex g 4s. 1938 F-A
2d extended gold 5s...l93e J-J
St L IrMASgeu coug5sl93i AO
Gen oon stamp gut g 5s 1931 A-O
U niiied A ret gold 4s.. 1929 J-J
Riv A G Div 1st g 4s.. 1933 M-N
Verdi V i A W lstg 58.1920 M-S
MobJ AK C 1st cons g 6s. 1953 J-J
Mob A Ohio uew gold 6s..1927 J-D
1st extension gold 0S..A1927
January 1
N. Y. STOCK EXCHANGE
Week Endino Sept 9
.
let 5s
N Y B * M B 1st con g 5s
N Y * K B 1st g 6s
Nor Sli B 1st con g gu5s ol932
Louisiana & Ark 1st g 5s.1927
Louisv tte Nashv gen g 6s. 1930 J -D
Gold 5s
1937 M-N
Unified gold 4s
....1940 J-J
Registered
1940 J-J
Bint fund gold 6s
1910 A-O
Coll trust gold 6s
1931 M-N
E H & Nash 1st g 6s....1919 J-D
L Cin & Lex gold 4 4s... 1031 M-N
NOAM 1st gold 6s.. ..1930 J-J
N O * M 2d gold 6s
1930 J-J
Pensacola Div gold 6s...1920 M-8
St L Div 1st gold 6s
1921 M-S
2d gold 3s
1980 M-S
Atl Knox A Cin div 4s..1965 M-N
Atl Knox & Nor 1st g 5sl946 J-D
Hender Bdgelstaf g 6s.1931 M-S
LAN * M & M 1st g 4*38 1945
LAN-South M joint4s. 1952
N Fla & 8 1st gn g 6s. ..1937
NAC Bdgegen gu g44s 1945
Pens A All 1st gu g 6s.. 1921
SAN Ala con gu g 5s.. 1936
L A Jett Bdge Co gu g 4s.. 1945
LNAACh See C I A L
BONDS
Since
643
*«
Range
too
^30
High
964
Bklyn A Mont 1st g0s.. 1911
Kentucky Cent gold 4s.. 1987
Record—Continued—Page 3
•0
cz\
N. Y. STOCK EXCHANGE
vvrkk knoini- Sept 9
Long Island—(Con)
,
100
'
944
ibb”
g 0s..1916
Am iiiread 1st col tr
4s..191o
Am Tobaooo 40-yr
g 0s.... 1944
4s.
;....19ot
ieth Steel 1st ext st 5s..L9zo
lent Leather
20-year g 58.1925
ons riobacco g 4s
1951
corn Prod Ref s f
g 5s.... 1931
ist 25-yearst 6s
\9:U
Cuban-Amer Sugar colltr 08*18
.vl-S
J-J
A-O
F-A
J-J
A-O
F-A
rtll-N
M-N
0
91
90
064
2
96 4
92
95
66
73 >s 67
Aug’10
94 4 97
94 4 Aug'10
89
90
Aug’10
105 4 Sale
105 4
105*4
79 4 Hale
70 4
78*4
84^ Sale
98 4 sate
784 79
034
•
69 4
......
DueOc®
94
07
Sale
66
84*s
W8*a
844
694
694
86
J’ly’1.0
wDueNov
.
....
.
98 4
784 Aug’10
94 4 Aug 10
04
Aug’10
064 J’ly 10
103
li»0
93 4 08
1
61
92
102
67
734
00
94
03
90
0 104 4 108
61
764 85*4
83 4 89
ib
07
47
102
....
0‘2*4 Sale
A-O
Distil
cor conv 1st g 5s.*2\ A-O
E 1 duPont Powder 4 48.. I93t J
Due May crDua J’ne fcDue J’ly A:Due Aug
764 Sale
704
764
100410IH 1004 Aug’10
«...
....
....
.
...
•
•••
4
....
jDueDeo
704 834
93 4
07
034
964
.
96
97
67
86
744
/FlaW
88 4
BONDS
N. Y. STOCK KXCH A NGE
Week K*i>tNc sept 9
ini
Guar 15-25 year g 4b
1931 AO
Cl A Mar let gu g 4 Vs.. 1935 M-N
1
Sept 9
1
A** Loro
A-O
M-N
90
J-J
J-J
8d 7s
v./U*12 A-0
Pitts Y«fo Asli 1st con 5s. 1927 M-N
P C C <& St Lgu 4 Vs A...1940 A-O
Senes B guar
1942 A-O
SenesC
guar
....1942
Senes D 4s guar:......1945
M-N
Genes & 3 V guar g....1949
Series F 4s guar .....1953
CSt LA P 1st Cion g 5s.l»32
Pensacola & Atl see L & Nash
Peo & Bast. See C V C & St L
Peo A Pek Uu 1st g Os....1921
2u gold 4 V*.»
01921
Pete Marquette—Kef 4s.. 1956
Ch«fc W
1921
Flint & P M £ Os
1920
1st COUSOl gold5S...... 19*39
Pt Muron Div 1stg 5s. 1939
F-A
1*0
.
M-N
A-O
Q-F
M-N
J-J
J-D
A-O
M-N
A-O
SagTnSite H lstgug 4s. 1931 F-A
Phil B & W See Penn K R
I
Philippine By 1st 30-yr sl4s’37 J - J
Pitts cm A Bt L Bee Penn coi
•
96
||
0
BONDS
Bang*
January }
,
Utah
Aug’10
103
104 4
104 V
104*4
107
104«bAugV0'
107
Oct ’08;.
109
100
,107 V 107V
103 V 107*4
I!
May’10
106St 107*« Jan ’.10
109
......
XOSSt J’ly’Hi
112*8 J ne’06
....
....
95*4
-
—
Mar’10
U 98
98
01
,.i.
J’ly’10
94
94
96
....
V100
100
lol
107 V
UO
......
lOoVlUl
losv ioi
1101
IlllV
106
Guar
o A W
88
....
S db N Ala
90
cent
1st consol gold As........1943 J • J
see B & u
!
leading Co gen g 4s.....1997 J-J
I* Registered.
1997 J J
Jersey cent coll g 4s... 1951 A o
Bensset&er A Bar See DAM
ttioli A Dim see Month Ky
Blob A Meek See Ben thorn
Rio Gr West bee Den A Rw Gr
Booh A Pitts See B MAP
J
Borne Wat A Og See N Y Cent
Butiand See N Y Cent
oag Tus A 11 See Pere Mara
OtJo&Grlsl 1stg 4s...1947 J-J
St L A Cairo See Mod A ciuo
St L & iron Mount See M. P
St D M Br See T Bit A of Bt L
9t Lotus <ft S F—along 08.1931 J-J
General gold 5s..........1931 J-J
112
8t L <te B F KB cons g 4s..’90 J • J
Gen 15-20 yi 5s
1927 M-N
Bouthw Div let g 5a..l947;A-0
1951! J-J
KO FtB A Mcong Os.. 1928 M-N
K O Ft B A M By rer g 4s 1930! A-O
98
U$
.
.
113*4
77 V
BPaoofN Mexlstg6a..l911
80Pao Coast 1st gu 4s g. 1937
J-J
Tex&NOBabDivlst gOs.1912 M-S
Con
gold 5s
1943 J-J
8
97
100
_
,
.
^
Aug’10
J’ne’10
05
97*4
95
97*4
120
Stamped
F.A
J-D
F-A
J-J
M.S
A-O
J-D
M-N
J-J
A-O
Co at deb g 6a. .1913 M-N
S Realty A 1 conv deb g 5s ’24 J-J
S Bed A Kef 1st a f g 6a. 1931 J.J
S Rubber 10-yr coll tr 6s.T8 J-D
S Steel Oorp— \ coup .41963 M-N
SI 10-60 yr 6a. (reg ..41963 M-N
W ceath
*
15
80V
89
10UV Dec On
08 V Ang’lO
124
108V
«
6b 1045
1945 i: i
....
^
Aug'10
blV J ne 10
73 V
73 V
*“
06V
97
88
9$V
g2
80 V
72 V
T
8
70 V
106
103
....
'Virginia Mid
84 V
U8V
85
85
104
82
93
10U
loo
80
91
103
......j,....
<uV
J’ue’io
Aug’lu
Apr’10
- -... -
106
Apr’10
90V
90
90
90
»?>
102
96 V
88
87V
106 V
1U3 V
104
110
109 V
93
116
100
96V
90
61
....
108
110
97 V
103 V.
109
....
107 V
luov
84
101*4
100
87
91V
103
iuuv ib’b*I
104
104
106
....
J^ly’10
....
....
39
89
86
02 V
04V
97
87 V
...
y7V
00
21
....
2d
104 V
104V
106
196 V
97V
■
60 V
01V 04
1103 V 106 V
....
....
ibs V lb’6 V
100 V
....
110 V
*0r*9*8*V
110V 110V
116
......
•
08
Feb’u7
100
J’ne'io
104*a J'ue’oa
114 V Dec’04 !
116
May’07
loo*;, lol Mar’io
03 1 90
J’ly'U0
102 V 10lVM*y’10
..i..*. 102
JNov'09
....
i
iuu”
100
1!.
—
ibi** ioi"
I” ioiv ii>2V
bmmm
m mm
80
135
100
82
Jan’lu
82
138
137V Aug’10
Sale
100
130
16 100
82*4 Sole
02
95
96
*
82*4
98 V
104
8
82a4
92
Sep TO
97
96
Aug lu
101V 102 V 102
97*4
100
J’ly’K
93
May’10
J’ne’io
May’io
89 V
96 V
957. 100
8234
92
07*8
114*4
06V 9bV
04
8 100
4
102
104 V AugV
104V105
86*4 87
86*4 Aug’lO
87
87V 87 Aug’10
102 V Bala
102 V
102
103 V Sale 103V
104
103
T-* ^
96
07
104
93
,,
2
-
82
147 V
105
•
...
r
^
103 V
93
93
104 V
104
96 V
06V
105
85V 94V
.
...
7
93
•
•••
86
00 V
101*4 104 V
IOIV 105 V
LOI V 105*4
114 V114 V
106 V 106V
105
107V
102
104
105 V
107 V
‘*0*1" *9i"
105 V 106 V
income 5a
West No Car
8a
74
••••••
106*’ il*2V
87
104V
94V
09
90V
92
87
70
81'
87 V
Aug’16
72
93 V
90
81
86 V
81
Ang*l J
80
J’ne 10
86 V.
91
100
106
102 V 103*4 103
J’nclo
86
oct ’00
60 90V 102
Bale loo*V
lol
loi
98 V 101V
09
Aug VO
ioJ * Bait 102*4 lu4 V 060 101 116*4
06
98V
05V
96*4 Bale
06 V
04*4 98V
V
95 V 06
V]
113>*
liUV
92 V Bale
ib*r min
100
02
04
d;
1X3V
1X3*8
Angle
•
oav
Jau’OO
Not»08
Apr TO
110 V 106
J’ly’10
04
94
65
108 V ^*e 108*4
1^0
08
CSV
V
08*4 100
85
86
100
00
1064 J-D
32 V
1943 A
..
*7*0
03
Telegraph and Telephone
A Tel coll tr 4a 1029' j. j
convertible 4a
1936 EA-S
Mich Btate Teiep 1st 5s..1924 F-A
is YTeiep lst&gensf 4*as.!39 M-N
pne TeiJfc Tel iat 5s
1937 J-J
West Union coi tr cur 6s. 1938 j.j
Fd and real eat g 4 Vs...1960 M-N
Conv 4a, Beriea A
1936 X-N
76V
90
00
62V
2
33
82
34
80
4
4
nv
12V
88 V
<1
00 V
86 V
73
68V
74V
100 V
00 V
110V
1
Sep TO
6
92 V
ibu*
Sale
01V
89 V
100 V
97
07 V
06
09
04
1
83V
7iVFebV0
78 *v Apr TO
100 VNuV*i/0
lio
J ne lo
02
Alar V0
34
Feb’07
105
1949 M-S
Am Teiep
6
100
20-year equip a f 6a ...1022 J-J
Wilkes A n,aat See Erie
Wii A Bioux F see Bt P M A M
Vvia cent 50-yr 1st gen 4s 1949 J-J
|M-N
34 *4
5
6
104*4 Feb TO
101
Ja:
102
J 1
78 V Aug’10
90
De ‘
92V
93V
89 V
Bait
100
Balt
96V
100
Bale
£
90
89V
05
07 V
02
i 104*4 104*4
1
!
1*'" *1
•J
5^ 1
31
....
.
24
04
14
104
104
09
1
0? V
9oV Sep 10
97 V 8©P TO
ioiv loivioiv
54
82V
....
100V
107V
72 V
8SVMayV0
<il043'Nov
eaeBouth By
Wheel’g-«fe L K 1st g 6s...l926'A-0
Wheel Div 1st gohl 6s. .1928 J - J
Lxteu A Imp gold os...1930 F-A
....
31V
85 V
86
102
90
106
....
JauTc
34V
84 V
84
113*4
145! 66 V 77 V
***3
34V
6 V
103 V
72 V
00
35
4V...
6] 98
86
J*lyT0
J’nelu ...J 100
Mar' 1 u ...,i 00
72 V
81V
*
“
108
98V
....
63 v Bale
62*4
63 V
lU6 V...... lOu
J’ly’10
83
Pc o’vj
*23V 'll
105
94
13 107
1
03 V
aUU
00
96
96
105
82
Ll3V 117
108 V 113 V
94 V
01
29
•••.
107 V Dec ’09
06
06
See south By
BB 1st consol 4a...
Bep ’00
01V
80
Trust co certfa..............
Warren see Dei pao A West
Waau Cent see S% or Pao
Wasn C «fc W See Southern
Wash Termi 1st gu hv»-.l045 F-A
West Maryland lat g 4a... 1952 A-O
Gen A couv *, 4a
..1962 A-O
Trust Co certfa..,
....
W V a Cent A P 1st g 6a 1011 J-J
West N YA Pa 1st g os..1037! J '
gold 4a
12- 108V 112 V
70
70
109
87
73
87 V
1020 J-D
1029 J -D
-
107 V107 V
109
115V
97
98 V
109
109 V
ilai TO
106 V Nov’04
V 106
Aog*lo
112
&ep’O0
99
Aug’10
94 V Mar’lv/
Apr’iu
93*4 93
105
.1027 J-J
M- S
J -D
F-A
1946 J - J
gold 4a
Gen
”! ii’n v ii3*4
ibb" ioo
4s...l947 J-J
1947 J-J
Sup& DuxdivJb term lst4s’ 36
•••
*not’06
112
70
103
66
1
96
90
07
“
-
107vJan 09
109
101V
«•
*•••
06
96
97
Feb’lO
89 V 87 V Auf 10
94
03 J’neiu
105 V Aug* 10
106
104*4 -=>ep o9
106*4 105 v May’ua
106 |103V Aug’lu
110 V 100*4 Aug’10
110
lUOV^07’*^
06 V 92
Aug lo
122
119 V Mar’lu
100
101 v
76V
114 V
106
107 V Apt MU
100
Aug’10
07 V Aug’ lu
109
May* 10
108*4
B«It
60V
W
luov
69V
91
103
....
122VAU*’08
......
88 V
83 V
g
Va a bouthw’t 1st gu 58.2003 J-J
Igt cons 50-year as
1068 A-O
a basil 1st gold 6a
1039 M-N
2d gold 5a....
1939|F-A
Debenture series B
1039 J - J
1st lien equip a fd g 5a.. 1021'M-S
1st lien 50 yc k term 4S.10641 J - J
1st ref anu ext g 4a ....1066 J - J
Det A Uh jlxi Istg5a..l04l J-J
DeaMom Div 1st g 4a..1939' J - J
cm Div 1st g a Va
1941'A-o
T01 A Oh Div 1st g 4a...1941
M-S
r
Wab Pitta Term 1st g 48.1964 J-D
Trust co certfa
«iV 85*4
Aug’10
^00*4 May’10
loxV
104vMar’lu
102 V106
lu4
J’ly’10
100 V
3
8SVf«P;iO
84
99*4 99 V 99*4
70 V Sait
69V
79
86
Oct *09
110
...109
>106
...
106s* Sep *00
Vahuaiia consol g 4s ....1065
101 v Apr’07
95
...,106
......
Utahdb Nor gold 6a..l826 J-J
Uni ft J BB A c Co AeePaBB
Utah Central See Bie Gr wise
U tan * North see Un Pacino
Utica A Black K See N Y Cent
F-A
era Cnu<fcPistga4VBl084 J-J
Ver Vai lnd a W See Mo P
•••*»•
....
81V
90 V
110
SOV 87
86
106
82
Nov’US
103*4 108" 106V Apr’lU
103 V 104*,» 105 \ May TO
75
Cel ’08
70
102 J’ly’lb
101
103
112
Oct’O’i
106*4
108 V Deo’06
103
105
107V Dec ’09
104
lo5<VJ’iy 10
Dec’09
107
•!►••••
91
Feb TO
86
100
104
V May Vo
ol Bt u let g 4 Vs..1939;A-O
1st couaol g 6s
Guar refund 4s
Registered
85
114
117V
12 76V 82V
73
See LA Si
20-yroonv4a
78-4
10
Since
January 1
17 103 V 111*4
UlVAuglO
114 V Feb TO
115<V Apr’u6
114
100
102
1st A ref 4a
p2008
ere By A Nav con g 4S.1946
Orb Short Line 1stg6a..1022
”...
102
87 V
96
04
00
90
89 V 93
08
106V
95
05 V
05
07
93
8 100
01
ioiv
BUN Os—Concluded.
99
00
99V
10U V
97 V
V 102 V
—
Manufacturing & industrial
Va-Car Chein 1st 15-yr 5s 1923 J.D
Westmghouse E A -vis X 5s ’31 J-J
99V
88V
99V
80
09 V
88 V
99*11
96 V
85
11
80
8
100
93
Tiutceilaneous
Adams Ex eoi tr g 4S
104b
Armour&Co latreaieat4 iia’So
Bush Termmal 1st 4s
1052
Consol 5s.................1055
ChicJoJb t Yard coi g 68.1915
Det M A M Id gr xhcomes.. 1911
institfor Irrig Wks 4va 1943
int Meroan Marine
int Navigation 1st
4 Vs..1922
.71-S
92V
J-i>
02*4
A-O
J-J
J-J
A-O
M-N
A-O
95 V 105
85
40
s i 5s.1920 F-A
Newp N e Ship A D D 5s 41090
N Y Dock 60-yr 1st g 4s..1951
Providence Bee deb 4s....1957
Provident Loan Boo 4 Va. 1921
8 Yuba Wat Co con g 6s..1923
J-J
F-A
03 V
«9
97
62 V Bale
81
78
91V
.....
May g Due J’ne /iDueJ’ly A:Due An*
92
92 V
92 V
93
88
Aug’lc
93
J'ue’lt
100
May’K
104
...
90V
87 V
96
160
o5
100
40
66
98
71V
76
83
00 V
00
94
90
96
7
93 V
04 V
89
98
iif<> 'll'
01V J’ly’T
00
May u
05
J’ly’OU
112
103
92
6
28
35
Aug VI
97 V Mar’ll
62 V
62
78 Sep’lC
HiS
05
■d-N
M-S
J-J
Wash Water Pow ist 5s.. 1030 J-J
No price Fridays latest bid and asked this week, b Due Feb 4 Due Apr « Due
67
iu
stamped....,.JL036 M-N
tin Pao Bit<& igr
Registered
>105
90
91V
84
90
100 V196 V
....
Ang’lO
86 V
73 V Bale
J-J
U
U
U
U
U
100
A-O
J-D
A-O
J-J
J-J
60-year gold 4a
I960 A-O
Coll tr 4a g Ser A.1
1017 F-A
Tor Rain A Bun let* 4a./il046; J -D
.UltoCL CLAN LOUS
JianuInducing Ac luduatriai
Gen Electric deb g 3 Vs.. 1942
10-yrg deb 5s
1917
Int Paper co 1st con g 6s.l01e>
Consol conv s f g 5s
1935
Int St Pump 1st a f 5s....1929
Lackaw Steel 1st g i>«....1923
Nat Enam A Stpg 1st 5s.. 192^
N Y Air j>rako ist conv 6s ’28
By Steel Spgs 1st a t 5s...1021
il956LM-N
2d gold inc 5s
.....o2000,Mar
La Div B L let g 6s
1931 J J
W Mm Wa X WlatguSs ’JO F-A
Tdl A o C let g 5a
1935 J - J
94
09
J’ne’O,'
10
Keo’tO
10 V Aug 10
106
Feu’10
66
Nov’oy
......
Range
tiiua\So Lov> High
241 93V »5V
Low
1UV
110 V HI V
1stA
refund
Dei 1stg con
Ulster
g 5a 1928 A-O
J -D
4a.......1052
looV Apr* lo
89 V
89
....
Apr *10
08V
95
06*4
89
115
77 V
Bale
06V 97
J-J
112
J’ly’10
77*4
M-S
F-A
1920 J-J
112
98
88
89*4
g os
1938 A-O
Ore A Cal 1st guar g os.1927 J-J
Be Paco' Cal—Os k & F.1912 A-O
1st gold Os
1912 A-O
1st con guar g os
1937 M-N
96 V
....
105 V*
bd
86 a4
99
......
8u V Bale
J-D
J-D
F-A
J -D
A-O
M-N
M-N
M-N
M-N
J.-J
A-O
Gen gold 4s xnt guar.. 1921 A-O
Waoo<fe N W divlstg6s’3u M-N
A A N W 1st gu g da....1941 J - J
Morgan’s La A T 1st 7s.l918 A o
1st gold Os
No of Cal guar
105
1st con gold 5a
1894-1044 F-A
Gen refund a t g
..1953 J-J
St L M Bge Ter gu g 5s. 1930 A-O
Tex & N c see Bo Pac Co
Tex A Pac 1st gold 6a.....2000| J-D
’tf7
120
105 V
*88
......
(Cdnt Pac coll)./cl949
Registered
#1949
20-year couv 4s
^1929
Cent Pao 1st rex gu g 4s 1949
Registered
1949
Mort guar gold 3 Va.. #1020
Through Bt L 1st gu 4s ’54
G B.A BAM <fePl«C6s.. 1031
Gila VG&N 1st gu g 5s. 1924
Uous LA W T 1st g 5S.1933
1st guar 5s red.......1933
a <fc T C 1st g 6s mt gu..i937
Consol g Os mt guar...1912
May’10
07 V
96
96
4s «uc bond etfe...pl0B9 J - J
Gold 4a
105
Western Div 1st g 6a...1935
General gold 5s
1935
Kan A M 1st gu g 4a....1000
Tol P A W 1st gold 4a....1917
TolBtLJb WprUen«8Vs.l925
g48Illinois
DUetls.1989
$CtLB
LouisW Be1st See
Cent M-N
2d
tBoutnern
A G seeCoAtl coast L
Bp ucaPacilio
Bale
96*4
KC&MB& BlstgU58.1929 A-O
Oa’rk & Ch C 1st gu 5e g.1913 A-O
Consol gold 4s
1932 J ,D
Gray’s Pt Ter 1st gng 6s 1947 J-D
Bt Paul A Dui See N or Paeitie
St P Minn A Man See Gt Nor
at B «fc is or Pao See is or Peo
StPJbB’xCity SeecatBm. AO
S A&A Pass 1st gng48...1943 J-J
8 F A N P 1st sink t g 68.1019] J J
Sav F A West
See Atl Coast L
•dote Val AML see swA W
Seaboard A L g 4e stamped ’50 A-O
Coll tr refund g 5s
mil M-N
oi949 F-A
Adjustment 6s
Ati-Birm 3u-yrlstg 4s.elU33 M-S
Oar cent 1st con g 4s...1949 J-J
Fla Cen A Pen 1st g os. 1918 J-J
1st land gr eat g 5s...1939 J-J
Consol gold 6s
....1943 J-J
Ga A Ala By 1st eon 5s ol945 J -J
Ga Car A No 1st gug 5s 1929 J - J
8eab«fc Boa 1st6s.,...., 1929 J-J
Bher Bbr A bo see ai k a t
112
93
I
4s
J-J
Spokane Internat 1st g 5s 1955
er A
Pitts A West
g
86
105
■
Pitts Sh A L E 1st g 5s... 1940 A-O
Refunding
J-J
15
$3
94 V
93 V
Bah
105
105 V
110
May’00
Balt
7H V
74
86 V 86 V
86 V
107V 106 J’ly’lh
84
85
81
108
Sep ’08
02 V <>ct ‘09
92 J’ne’06
‘74*
W
let oy gu 48..1924 F-A
West N U let con c 6s.. 1914 J • J
Pitts Cleve A Tol see B A O
Pitts Ft W A Ch See Penn Co
Pitts McKees AY SeeX Y
A-O
M-S
ASH'
Weetfs
Range or
Last sale
Bale
105
Mortgage gold 4a
con g 6s....1915 J-J
Deb 6a stamped.,
1027 A-O
Bi^h A Meek
I1948M-N
So Car Jk Ga 1st g 6a....1910 M-N
Virginia Mid sec C 6a...1916 M-S
Beriea D 4-5a
1021 M-S
Senes k5s
i......i.l026 M-S
General 6s.....
1936 M-N
112
>101
j. j
lien g 5s.....1938M-S
Ga Midland 1st 3a
1946 A-O
Ga Pao By 1st g 6s
1922
Knox 6b Ohio 1st g «s... 1925
76 V 79
AOO 102V
1
ill V 112 V
1101 101
Aug’10
Apr'lO
Aug’10
J’ly'io
89VJ’iy’io
89
86
Con let gold 6s
£ Ten reor
Bioh A Dan
112
J-J
1916 J - J
,
111 V112V
'112 Feb’10
|100*4 Dec’05
75 V 76 V Apr VO
90
biu
04
6a..l930 J - J
Mob A Bit prior uen g
112 V
112V
U2*a
Atl A Yad 1st g
Col A Greenv let 6b
£ T Vn A Ga Div g
104^l057e
..
1055 J-J
J-J
J-J
J-J
guar 48.1949 A-O
104 Hi Oct ’09 .
106*4 *’iy'10. ..105 4 106
100
Sept 9
Southern—let con g 6a....1994
Registered
1994
Pevelop A gen 4s Ser A. 1056
Mob <& Ohio coll tr g 4s.. 1938
Mem Div 1st g 4V-5s...l996
St Lome div 1st g48
1951
AU Cen R 1st« 6s
1918
Atl <fc Danv 1st g 4s
1948
2d 4e
...1948
96
Aug’U9 ,
90
M ay*08 .
I 92
Apr *07,.
I 98*4
Apr ’04 .
90
90
90
Pac HR 1st ref 4s
o
99
94 Hi
Price
Frisia*
N. Y. STOCK EXCHANGE
Wiu Evdino Sept 9
Nino*
-5
oc.0
110 Jan '05
110*4 Jan ’"9
109*4 J’ly’09
J01
103
F-A
J J
08*s
98
J-J
J-J
1#12 J-J
2d7s
Priftay
Bia
Cl«fc Pgen gug4V»aer A.’4’2
Series B....
*....1942
Series C 8 Vs
1948
Senes D3Va
.1950
Er1e& Pittsgug3Va B. 1940
Senes U...
1940
Gr HA 1 ex latgug4Vs V941
Pitts Ft W Jfc C 1st 7s...1912
Week?»
Range or
Last Sale
Price
w
Pennsylvania Co—(Con)
g
[VOL. LXXXXI.
New York Bond Record—Concluded—Page 4
644
J’ly’04
AugTQ
....
.
•
•••
.....
Ioi
103
oDue Oct p Due Nov «Option Sain
CHICAGO STOCK
EXCHANGE—Stock Record—Daily, Weekly and Yearly
STOCKS—HIGHEST AND LOWEST SALE PRICES
Monday
Tuesday
Sept. 6
Sept. 5
Wednesday
Sept. 7
180
*2*2
*2*2
*6
70
71
16
8
*4*2
4*2
25
*
♦
19"
*60
*16
*
*57
*4*2
45*
*
8*2
*240
*128
*
*108"
*103
*135
135U ♦134
*32
35
60
50
60
*48
•1
*2
1*8
3
37
118
*30
*117*2
*142'
88
35
64*4
35^
118
148
111
111
*69*2
46
56
88*4
60*2
88*2
60*2
*43
46
59
99
56**
98*4
98*2
♦112
120
120
120*2 120*2
120
120
106
7%
88*2
114
120
120
*118*4
106*4 106*4
155*"* 166"
156
118*2 II984
103*2 103*4
*155
119*4 119*4
103«4 104
160
♦155
160
I6§" loV" ♦161" 162"
67«
6?8
*684
*1111 Ye""
-
020 American Can
—100
Do
495
.*..-100
prel..
15 American Radiator.. 100
Do
prcl^i*...*.**100
Amer Shipbuilding
100
Do
preC_..___i*.10u
40 Amer Teiep A Teieg—__
Booth (Al A CO..,..too
.
Do
6*4
102*4
*634
101
7
15
Inter
Price
Week’s
eei
Friday
Sept. 9.
Range or
Bit.
102*4
June’10
102*4
6*4
Apr’09
June’10
....
-
^
....
•
....
^
_
....
....
•
_
-
—
•
•
•
•
—
-
-
.
_
-
....
-
—-
•
....
....
....
....
....
mmmks
Note
«’ d»
Bout
Range
lor
Year 1910
.
.
.
.
High No
99% Mch l i
High
99% J9%
low
91*4 Aug TO
•---
j’ne'O)
101*4 Oct’09
....
May'07
102*4 Aug’10
103
Apr'04
Apr'd9
60
-
....
....
90% Jan'Jj
.....
.
,
.
....
.
94*2 Dec'09
87
4b«-
Feb'06
.
85*2 A g’lU
97*2 Sept’10
....
75% Aug TO
90*2 .«.ca iu
98
Aug TO
98 July'lu
100*8 Ap-'Ij
60*2 Aug'08
•
100%
•••*
....
15
53
Apr 1
Mayjl
J’ly
ail
J
47
62
£50
135
Jan
05s J'neoU
02i2 J ly 20
240
1.6
72
107
J&n 3 c
Apr £5
J’ly 19
m
_
.
_
.
6
101*2
21
no
....
uec'03
90
Mch'09
8J
16
MayTO
——
_
82*?
77
77%
8934
...
....
May’05
82*2
—
—
7
6
3
2
94'-
99
Apr’ K9£78 Sept’10
100% Mch'uo
96*2 Mch’10
....
9012 MchTU
121% May-09
101*4
101%
103
July'lu
Mch'10
101i2 Dec’U9
92
AUg’ 10
June’10
86*2 Juivoi
May
64i: Dec
Feb
Feb
7
8411 Alaylo
Aug 6
13114 J’ly 30
112
54*8 Apr:
Jan 11
101
142*8 Mch
Feb
Aug
139
39% Jan
il
1U
l
74
55
4
43
/
51*4 Jan
Aug 11
Feb
14 Mav
AlaH
0
Feb ‘
Feb
1
4
.
Jan
.
_
25*2 J’lY 20
86
Jan
Jau
*« J ne
J’ne
J’ne
15*4 Nov
71% Jan
iuu
126
J’nJ
8HS Dee
112
145
1
6
40
76*o
C8
Apl
1
1
2*8 Ap«j
_
4,'
137
Feb
i
10
Atari7
Men
Jan
b
127
Jadi
42
140
142
108*V
AUg 20
103
Men
it
117
107
Jars!
152
J’ly 27
mi*
to
2
13*2 J’ly 9
;y*4 Apr /
83
J'fy 26
127
J'iy 26
43*2 Moh U
53
Jan
11
22%
Jan lo
Jan b
82
Feb *b
.
an
J’neib
101
Aug 3
J'iy 19
Il5
112
Feb 24
Feb 10
120
103
J'iy 26
315*4 Jan
148
Feb
160U
101*2
Ja« 25
Apr *4
122
Meh 14
109->8.1an b
J'iy 27
186
Jne22
y
J’iy 10
106
6
101
Jan
20
Nov
Jau
Jan
7
Jan lb
J’iy 1
Meh oU
125
121
6*4 Apr 2b
.
43
J
7
116*2 Aug 8
155
Jan>
Mch 2
46
Jan 7
60\i May2o
1023.! Apr 20
93
104
117
91
Mch 17
^
17‘s Feb^
70*4 Mch-
6
40
118
97% Jan
118*4 Feb
v
82
HO
102
jau
55
101
can
J’ndko
Jau
Jam
Jan
100*2 Jan
Feb ,9
119
Jan
stay 26
Jan
t
15% Jan
3
22 7r
1
98>2 Jan
% Feb
3% Mch
^
16
Jan
Apr
Feb1
15
Sep
Nov
Jan
Jau
Dec
Dec
Apr
Apr
2i2 Nov
no
1*4 Jan
J’no
225*4 Oct
132
J’ly
Dec
Sep
Oct
121*2 J 'iy
25*s
88*2
130%
88*2
47
Aug
May
Aug
Dec
Sep
21
J’ne
119*4 Sep
130
Sep
108io Dec
124
Nov
11978 Aug
1
Mch
109io Dec
12184 (Jet
114*4 Aug
162
Deo
105
Dec
1% Mch
9*2 Jan
25 Mch
NAMB
Oulstaridr
Surplus
ing
and
Sleek
ProfUi
t
t
Dividend keccra
In
in
1908
1909
•
Fer-v
tod
Las'. Paid
%
Calumet
National,....
Chicago City
5100.00U
6
6
17540.392
An Dec
03, 6
.....
500,000
S204.053
10
10
J-J
»illy TO. 5
90% 941? ContTtal A Comm Nat. 20,000,000 9,6-2,319
''
Oct
*10,
2*2
A+mA
Corn Exchange Natlona.
3,000,000 6,437,0-4
12
12
Q-J Oct TO, 4
Orel el State..
200,000
6
*28,010
9
vl-j jiTy TO 1*2
Drovers' Dep National
600,000
9H
399,499
10
Q-J July TO 2i2
Englewood State..
200,000
6
*3»,816
6
Q-J
July.TO, U2
First National..,,
, 10,000,000
10,836.169
12
12s
Q-M June3O’10,3i/
First Nat Englewood
101% 103*4
150,000 *177,944
10
10
jne 30’10,2i2
Q-M
Foreman Bros B k'g Co.
1,000,000
525,371
Priv ate Ba ak
Fort Dearborn National
1.5J0.000
383,692
8
8
Q-J July "to",2"
Hibernian B k’g Ast'n.. 1,500,000
950,430
8
8
Q-J lulv TO, 2
Kasper State Bank....
200.000
*125,146
10
10
J-J July TO, 6
La Salle St National .*
1.000.000
251.586 Beg b ta. M- V’l. V.9J, p.1277
Live Stock Excb'ge Nat
1,260,000
490,626 10 + 2
10
Q-M Tne 30T0 2i2
84*4 87%
Monroe National.
300,00*
65,108
4
4
Q-t Aug T0.1
96
Nat Bank of Republic..
101%
2,000,000
1,214
8*8
8
8
Q-J juneJOTO, 2
38
National City
95*8
1,509,000
404.524
3
6
Q-J July 10. 1*2
75
86
National Produce.,
250,000
83,034
3
Q-J July TO, 1*2
North Avenue State...
96*2 91
200,000
z/3,141
Q-J
July TO. 1%
6Hi
North Side State
9l*2 161*8
Sav’gs
z
50,000
6
12,000
6
Q-J July TO, 1*2
98
98
North West State
200,000
Z10.2O7
Q-) July TO, 1
100*8 IOOS4
People's stk yds state300,000
z9i,55o
Q-l Jv.ly *10, 2*2
r Prairie
National.*_...
250,000
p 68,226
Prairie State
500,000
80,077
8
0
Q-M
Ji‘ie’j0T0"l*2
100% 103%
RaHway Exchange....
250,000
2
23,268
None
Jan
*08, 2
100*4 1027*
security ...
*.*
300,000
Zi09,42i
Q-J
.uly
TO, U2
South
100*4 10J*4
Chicago Savings.
200,000
Z *5,006
6
6
Q-J J ly TO, 2
100
South Side State
100*2
209.00O
Si. 000 Beg. b us Sep t '09 V. 89, p. 817
State Bank of Chicago., 1,500,000
1,742,907
11
~
12
Q-J J ly TO, 3
100
Stock Yards Savings...
10284
250,000
183,241
7
8
Q-M Junc3OT0,2
Union Bank of Chicago.
200,000
z 13,024
6
6
M-JN May TO, 3
Wendell State
50.00U
Z7.419
6
Nope Q-M Deck 1’08, l*i
Central Trust Co of III.. 2,000,000
94% 94%
872.807
7
7
Q-J July TO, 2
Chle&go Sav Bk A Tr
»50O,00U
116,352
6
1H
Q-J July TO, H|
80
35
Chicago Title A Trust.. 5,000,000 *l,543,8dt
6
6
Q-J July TO, 2
Cltleens Trust A Savings
60,000
Z.),992
4
4
A-U Apr9, TO, 3
Coionla1 Trust A Savings
600,000
454,135 8+2
8+2
Q-J July 10, 2*2
80
84
Cont & Comm Tr 4k Sav.
3,000,000
427,869
76
80
Drovers' trust& Savings
200,000
115.219
8
7H
Q-J July TO. 2
88
Farweil Trust Co
93*4
1,500,000
*191,036
asAmm
3
Q-J July TO, U*
First Trust A Savings..
9334 96*4
2,500,00* 3,113,260
16
Q-M
June30T0, 4
99
99
Guarantee Trust A Sav.
200,000
*10,554 lncorp orated 1908 V .87.p.1138
Harris Trust A Savings.
92*2 96%
1,250,000 1,456,828
0
Q-J
9H
July* 10,3
Illinois Trust A Savings
5,000,000 8,444,429 16 + 4 16+4
Aug TO. 1
/
Kenwood Trust A Savgs
06*2 90*2
200,000
6
*52,440
QJ J ly TO, 1*4
Lake View Trust A
97
97
Savgs
200,000
*36,287
4H
Q-J luly TO, 1*2
9«12 98*2
Merchants’ LoanATr Co 3,000,000 5.840.079
12
12
Q-J July TO, 3
Metro poll ta n Trust ASav
750,000
6
0
221,455
Q-J
July TO, l*a
Northern Trust Oo,..._
10034 103%
1,500,000 2,327,738
8
8
Q-J July *10,2
103
North-Western TrASav
104*2
200,000
6
6
*61,704
J-J July TO, 3
102
102*.
Pullman 'trust A Savgs.
600,000
8
8
*200,066
Q-J July TO, 2
Sheridan Tr A Sav Bank
200,000
*23,013
us. J’lv 12*0 9 V 89,p.141
Beg
b
92
94
uo Standard Tr A Sav
1,000,000
250,000 Comm enoed bus. Sept 6 1910
100
100%
Stockmen's trust A Sav
200,000
6
5
J-J
*38,921,
nay TO, 3
88
88
Union Trust Co,
1,800.000 *1,102,681
8
t8 + 2 Q-M Julyl2‘10.2*
j
vWest’n Trust A Savings 1,000.000
6
6
132,692
Q-J July TO, 11*
70
70
West Side TrASavBank
200,000
June 30*10,2
107,552
+
05
65
Woodlawn Tr&SAvBam;
200,000
6
0
*44,844
Q-J JIuy TO. 2
..A.
ra.
.
.
.
.
.
.
_
_
.
,
....
.
.
..
.
.
.
.
—
w
-» -r T -*
'
^
.
.
...
,
,
,
,
—-*■
....
Feu’lj
Apr* 10
Dec
Aiay
May
...
94*4 July TO
Aug’10
Apr’l*
103
Jau
....
10u*8 Aug’io
Nov'04
Dec
7?s Jan
f-
May 6
Apr 4
....
jne'lu
100% AUg'U9
89^4
94%
May
19*2 Dec
jan.
97
J'lv
59
25
73
61
29*4 Apr
c
_
•
.
IUUI4 AUg’ 10
80
52
<
Jnn
Nov
17
63
b<§
Jan
13*2 Jan
29*4 Jau
Dec
Dec!
15*8 StQ
ne 24
Jan
Dec
8
J'neti
72*2 J liC22
64% Jan 8
104
45% Jan
30
3*4 Dec
3u
78
c
66
_6
J’iy
Dec
101? Dec
77-3) Mch
J’nc.i
J’no.t
25
72
23
56*4 J’ly 1
1 J’ly 28
40
,
Jan
Jan
15
97'8 Dec
3)
6*4 Aug 16
89
T
-
.
100
100
Feb 17
Jan 14
Feb 7
Aug
Feb
4
....
--
..
60*2 July’08
101*2
...
....
J ue'lu
b3
88
114
70
06
£0
69
13
51
Oct
mmtmrn
102
TOO
102
3
Jail
3
Jan 3
Jan li
Ja ’
0
....
----
97
Mav26
May24
190
U? Oct
5
j
Ask Lots
....
May 23
Mch
180
Chicago Banks and Trust Companies
Last Sate
Amer Strawb'd 1st 6s.1911 F - A
Armour A CO 4 Hs
1939 1 -D
Aurora Etgia&Chic 3.1941 A - O
Oal A So Chic Ry Co
1st M 5s
1927 F
A
Cass Av AEG (St L) 5s 12 J - J
Chic Board ot Trade 4s 1927 I - 1)
Chicago City Ry 3s
1927 F - A 102
Ohio Oousoi Br A Mlt 6s
J - J
Chic Oonsoi Trac 4 4s 1939 J - Li
Chic Auditorium Ist5sl929 F - A
Ohio Dock Co 1st 4S..1929 A - 0
Ohio Jc HR 1st M g 58.1945 M - s
Chlo No Shore Elec 6s. 1912 A - O ±mrn4L
Chic Pne Tool 1st 5s.al921 J - J
85
88
Chic Ry 5s
1927 F - A
9714 97*2
Chic Rys 4-5s series “A’ A - O
Chic Rys 4-5s series “B" J -D
75
76*2
Chlo Rys 4-5s series “C’ F - A
90
Chlo Rys coll 6s
1913 F - A
98%
Chic Rys Fund 6s..1913 F - A
*90 .
Chic Rys Tem Ctf3 1st 5s
Ohio R 1 A P RR 4s..2002 If "~N
Coliat trust g 5s...191* M- b
Chic Telephone 5s
1923 J - D 101*4 102
Commonw-Edison 5s. 1943 n- s 100% lOO^s
Chic Edison deb 6s. 1913 j - j
|
1st g 53
July 1926 A * O
Debenture 5s._..192u A - S
Commonw Elect 5sM 943 ♦1- b 100
100*4
Illinois Tunnel 3s_.._l92» J - D
Kan City Ry & Light
Co 5s .....
;
1913 d-N
Knlck’bker Ice 1st 5s 1928 A - 0
100
Lake St El—1st 5s
1928 j
j
Income 5s
..192.
Feb
Metr W Side E!—
1st 4S
..1938 F - A
82*2
Extension g 4S....1938 J - J
77% Salr
Morris & Co. 4 H
1939 J
J
*8934 Sale
North West El 1st 4s.1911 vl - h
94
94%
No W G-L A Coke Co 5s 28 Q - M
99
Ogden Gas 5s
1945 A - N
93*2
Pearsons-Taft 5s
.1916 J - L
9812
4.40s
A - b
95
4.60s Series E
M- N
90
.....
4.80s Series P
M- N
97*2
Peo Gas L & C 1st 6s_1943 A * O
Refunding g 5s
1947 M - b 101
Chic Gas LAC 1st 5sl937 J • J
Consum Gas 1st 5s_193C J - U *100
100*4
Mufl Fuel Gas Ist5sl947 M - N
South Side Kiev 4L$s.l924 J • J
8312
Swift A Co 1st g 5s...1014 J • J
Union El (Loop* 5s,.1045 A - O
Union Pacific conv 4S.1911 n - n
United Box Board col 6r26
65
76
General mtge Os
J - J
53
60
Western Stone Co 5s. .1909 A
O
Highest
1
Jerioa
109
36
16
S)*k
2'? J n*r2y
i
Trust**. 100
Commonw'th-Edlsoh.lOO
Do
rights
30 Corn Prod Re, Co com.**
lid
uo
prel..*.
350 Diamond Match
190
5 Illinois Brick..*.....100
Masonic Tempie..,
’731 McCrum-doweil Co 100
100
Do
pref*.
ftiilw A Chic Brewing,.
Do pret._.._.——
National Biscuit
100
Do
66
prel*.*100
1J0 National Carbon.,,., 100
Do
90
prel**
,...100
200 People’s Gas LACoke.IuO
Do
rights.
......
"382 Sears-Roebuck 00m..100
Do
291
prel.*,-,-...100
48t Swift 4k Co..*,,***..100
195 l be Quaker Oats On.. 100
Do rights.,*,*...*.*_
’"29
Do
pret,*... ...*100
175 Unit Box Bd A P Co-100
DO prel.*....**,100
Western ''torte.f>0
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week endin'} Sept. 9.
ly 28
A4ay^5
8
31
50
47
Do
rights
Chic Time A
155
6*4
Last Sale 734
Last Sale 15
16
J
4
07
14
100
com
Chic Brew'g A Maft'g
Do pret
240 Chic Pneumatic Tool i 100
71 Chicago Telephone.*.100
Last Sale 11-16 Meh’00
156
120
*102
FbhCr'es
Do pref..****_-*,_._.
Cal A Chic canal A D-100
1063,*
155
pier,*....
Booth
88*2
1068s
156
Last Sale
Mch 7
3*2 Jan 26
7*2 JAn 7
185
l*fc JTy 28
.
.Northwestern Kiev— .100
Do
.100
prel .i.
3 South Side Elevated *100
65 Streets W Stable C L .100
Do
16
prel
1
w 100
6034
156«4 15634 156
119*4 119*2 ♦119
1037s 104*4 102*4
7
-
13
*60
61
*60
61
Last Sale 45
Aug’10
*58
6734 59
59
*97
98*2 *97
98*2
Last Sale 2*8
June’07
Last Sale
Nov’09
112 112 ♦Hi
113
*120
123
*190
123
♦118
121
121
*119
*118
120
♦119
120
*156
_
245
70
,77*
88*2
106*4 106*4
Lowest
Miscellaneous
77g
C0*4
89*2
Highest
Mcft 7
185
*
‘"fid
♦240
250
120
July’10
77
Hep’10
109
Aug’10
135*8 135*8 *134
135
Last Sale %
June’09
Last Sale *4
Junc'09
Last Sale 35
Aug’10
*63
64
*03
04
Last Sale 47
Aug’10
Last Sale 1
Apr’10
Last Sale 2*3
Nov’09
*34
35
35*4
35*4
118
118
*118
118
Last Sale 2*4
Fell 08
Last Sale 142
Aug’10
*110*2 111*2 111
111
Last Sale 1*8
Feb’10
*14
14*8 14%
15
Last Sale 79*4
Apr’10
«*
165"
8*4
67
68*4
*240
250
Last Sale
Last Sale
Last Sale
ctaeafo city Hr.... .100
Chicago tc Oak Park_ .100
.100
do
prei f
Chlo Rys part ctl ‘*1 '**» x
Chic Rys part ctl * 2
^
Chic Rys part ctl “3
Chic Rys part ctl ‘4
.156
Chicago Subway.
KaftS City Hy A Lt_ .100
Do
.100
pref
vtetropol VV S Elov-- .100
DO
.100
prer
269
*
*21*
21
114
120
120
106
1*8
3
*143*
♦43
56
*112
50
118
88*2
00*2
98*2
*32
*63
*48
*1
*2
35*2
144
111
111
8*2
68*2
250
130
77
109
135
*45
Range for Previous Year
(1909)
Lowest
5
484
4
23
23
23
Sate 70
July’10
19
19
19
60
01*2
6H2
Sale 16
July’10
Sale 65
June’10
60
5712
57*2
*9
10
10
50
47
47
*9*2
50
Range for Year 1910
CHICAGO STOCK
EXCHANGE
Ka. roads
...
23
Last
*17
*58
Last
Last
*58
"9*i
8*4
08*2
8*4
68*2
248
130
77
„
.
*9
*45
50
8*4
*4*4
*57
9%
*68
248
*128
5*2
4%
Sept. 9
Sale 185
Mch’10
Sale 1*2
July’10
Sale 4
July’10
71
*70
71
11
16*2
15
Sale 9
July'10
6
4
4
4
25
07
20
00
20
60
*18
60
*16
”
*45
*
*7
25
67
20
63
20
60
.
70
10
8
*15*4
6*2
434
Last
Last
Last
*70
*10
Last
STOCKS
Sates
of the
Week
Shares
Friday
Sept. 8
*.,i. 180
*6
*70
16
*7
Thursday
.
Sakur day
Sept 3
015
.
.
»
..
«.
,
..
1
....
.
m ...
-
.
-
-
.
-
.
....
mm
m
...»
Accrued 'mere** •nu«5t be added" to
all Chicago h ond
prices.
Bid and asked prices; no sales were made on
this day.
f Sept. 1 (close of business) for national banks and Sept. 2
(opening of business) for State Institutions.
J No price Friday; latest price this week, a Due Dec. 31. 6 Due June, k Also 20% In
stock,
n Capital and surplus to be increased,
With extra payments Q-F.
g Dividends are paid Q-J.
i In addition the equivalent of 4%
more came from First Trust A Savings Bank,
from First Trust A Savings Bank.
t
July
311910.
v In addition the equivalent ot 1% came
v Prairie Nat. Bank and Western Trust A Sav. Bank
to be merged and capital ot latter to be Increased to
to See V. 91. p. 72, 17.
$1,860,000; V. 91. P.U14.
x Extra dividend,
y June 30 1910.
z
—
*
July 1 1910.
BOSTON STOCK EXCHANGE-Stock Record,
Sales
of the
Week
Shares
SHARE PRICES—NOT PER CENTUM PRICES
Saturday
Sept. 3
Tu tday
Monday
Sept. 6
Sept. 5
Wednesday
Sept. 7
Friday
Sept. 9.
Thursday
Sept. 8.
STOCKS
BOSTON STOCK
219
126
220
9778
*9912 10012
*9758
*218
219
12612 12612 12612
20712 2071s *20712
135
*-_-_
*1312 lfilg *....
*70
74
*70
*
*....
10
*35
37
*35
*140
*140
*
*
111
*:::: 290*
135
290
1518
74
10
37
...
125-14 1 2534 *12534
*109
109
..
1712 1712
8134 82
15H2 153
111
128
109
*1712
*81
15H2
9734
98I4
Last Sale lOOU Aug’10
221
*219
2I8I4 219
126
126
126
126
*207
209 *207
135
*13412 135 *....
Aug’10
Last Sale 292
Last Sale 15
Bept’lO
July’lO
l ast Sale 70
Apr’10
Last Sale 3
Last Sale 36
Aug’10
Lost Sale 140
Aug’10
l ast Sale 111
Aug’10
Mch’10
270
Last Sale
*..
125l2
12.534 12534
*109
Aug’10
Last Sole 85
May'10
Last Sale 204
IS
*1713
18
8134
*81
813-
1521?
15212 15212
1 734
81*i
152*3
8134
15212
140
June’10
£140
*183
*.._.
*10212
*103
163
184
29
....
..
16334
*9178
9278
183
*27
*102*2
*103
164
92
88
*8714
lOOU *100
*87
100
4212
441
10212 IO284
*434
51
1958
*412
*145
9
260
141
81
6
150
9
260
142
81
44
17
117
117
11712
13412
135
29
*28
95
9
18
9I4
83
1001?
II6I4
*28
95
9514
9U
195§
92
43
*16
29
1641;
10234 103
434
434
163t
11512 1173fi
II6I4 1171
13412 13514
*16
183
9514
10
19*8
*412
*145
9
*258
141
6
150
9I4
140
Last Sale
184
*183
Last Sale
Last Sale
Last Sale
1734
*
130
98
15934 160
*12
I2I4
10312 10418
*2912 31
30
196
*29
194
4978 4978
2712 271?
6678 677s
11534 II6I4
♦1412 16
*83
85
*100
130
*-
160"
130
96
161
*12
104
31
*29
197
1212
104
31
30
197
4938 497s
*2712 28
6678 68
11538 1153S
15
*83
15
85
*18114
200
23
221
6
--
27
103
109
16414 16518 *162
Auy’lO
Aug’10
Aug’10
16214
90i8
410
100
June’10
Last Sale 163
88
88
877s 88
’*69
*9114
9214
*89i8
100*? IOOI2
*10012
4312 44
1023j 102*4
*434
5
*102
Last Sale
Last
95
10
*-.-.
Last
Last
....
16i2
4412
103
5
Sept’10
117
117
117
117
13434 13478
Sept’10
9514
9512
Sale 28
95l2
10
10
10
20
*1912
20
Sale 5
July’10
Sale 14412 Aug’10
9
9
9i8
yi4
258
25S
25712 25712i
143
143
*14012 144
Last Sale
*130
Last Sale
16012 16058
Last Sale
10334 104i4
*2912 31
Last Sale
19612 197
4912 4912
*2712 28
6712 6838
11512 115*2
*1412 16
83
S1I8
9U2
8H8
9112
219
219
*514
634
110
110l2
100l2 Aug’10
130l2 13012
95
Aug’10
*160l4 161
1212 Sept’10
102i8 10212
*2912
31
28
Aug’ 10
197
199
4912
4912
28
68l8
*2712
67*8
TO*
*14*2
*83
83
Boston & Maine
134
100
Boston & Providence. 100 £292
Boston Suburban El Cos.
14
Do
70
pref
8
Boston & Wore Elec Ccs.
Do
35
pref
Chic June Ry & USY.lOt 140
Do
pref
.100 110
Connecticut River
100 265
Fitch burg, pref
100 124 2
Ga Ry & Electric....IOC 104
85
Do
pref
IOC
Maine Centra!..
100 J0-Mass Electric Cos....100
I4I4
Do
75
pref
100
N Y N H & Hartford.IOC
149
.Northern N H.__.
100 13yt2
.Norwich & Wor pref.10<> 210
Old Colony
183
too
25
Rutland pref
lot
Seattle Electric
100 103
Do
98*4
pref
100
Union PaclQc
100 ISJM
Do
8^4
pref
100
162
Vermont & Mass
100
West End St
87
50
Do
25
pref
50
Miscellaneous
*4312
11012 117i2
117i2 117i2
13412 135*8
14112
81U 8II4
81*8 8U8
9112 9134
9U2 92
*9134
217U 21712 *21712 219
21712 21712
*514
.514
5I4
*ol4
534
534
*10812 110 *108l2 10912 *109l2 11012
*100
*129
210
Railroads
.
_
....
85
532 Amer Agrlcul Chem_.100
Do
92
pref
lOo
130 Amer Pneu Service
50
Do
50
pref
416 Amer Sugar Refln....106
Do
381
pref
100
1,623 Amer Telep & Te»eg__100
*257
87
67
1,030
27
92
456
93
58
100
200
VlassachusettsGasCos 100
Do
pref
100
Mergenthaler Lino
100
Mexican Telephone.. 10
N E Cotton Yarn.__.100
Do
pref
100
41 NT E Telephone
100
Pacific Coast Power.. 100
*20l
16
*875
963,
10
8,065
77
6
2
Pullman (Jo
lOo
Recce Button-Hole.. 10
Swift & Co._
100
Torrlngton
Do
pre!
25
25
United Fruit
100
Un Shoe Mach Corp.. 25
Do
pref
25
U S Steel Corp
100
Do
pref..
100
West Telep & Teleg—100
Do
pref
100
7
42
63
2512
16
16
*5*2
*.50
*13
6212
*2434
16
*6
5812
555
*16
*.10
£66
6
634
18*2
59
555
18
.1
66
6
712
.30
11
7*2
•3C
11
6I4
*32
7
2014
23s
1734
♦19
618
*312
34
10
♦7
*.35
*.45
63s
23S
183S
19*2
6l8
334
3414
IOI4
7*2
618
7i2
7&8
.30
11
*1014
6I4
638
33
7
678
2114
258
1812
18*2
18
18l2
6I4
334
34l2
10i4
612
1914
434
6I4
4
3412
1014
612
48
203S
203s
5
11
5
11
2738
2734
912
5l2
2034
6i8
10i2
27l4
914
5*2
.30
*34*2
125
13
7234
I8I4
U2
*95s
158
44
*8
*1112
*55
512
5
.30 *.25
36
*35
125
*125
14
*13
7234
I8I4
1*2
10l4
158
443.j
81'
12
56
6
38l2
48*2
3*2
36l2
3812
48l2
312
23
23
4618
*2l2
*712
4618
.
3
7*4
mrn
2034
5l8
1078
2758
912
fil2
128
15
74
1814
lh
10
10
1*4
4534
8*4
1U2
1*4
*55
23
46
*213
7*4
*H2
# Berore pay't ot assen ts oaiieu in isos.
1678
13l4
1314
6i2
I8I4
Sept’10
♦42
6512
633g
2514
Aug’10
1634
1634
6
Sept'10
*
.50
.60
*1314
*6
19
58
58
59
550
550
*545
17
17
*16
Last Sale .10
612
I8I4
43
625g
2514
64
2512
Last Sale
.30
.60
1334
634
19
58
550
16i8
Aug'10
6512
6
6
*6
6l8
Last Sale 58
July’10
7l2
712
714
714
.30
1034
612
31"8
678
2H2
*214
17*4
1912
612
*312
3412
66
.30
1034
658
32
6“8
21*4
238
1812
19i2
658
4
34l2
6512
*.25
*10
1034
6&s
612
*32
7
21
*2
34
7
21
212
17*4
1912
65S
1712
1912
612
*312
34U
4
34l2
178
b*4
1U2
8I4
11*4
58
53
1*4
2012
514
1078
2914
9l2
612
2012
*514
1034
28l4
914
5l2
205s
534
1078
2834
912
512
* .25
*.30
.30
Last Sale 36
Aug’10
128
128
128
128
*13
15
15
♦1312
*73
75
74
*7234
18
18
I8I4 I8I4
1 9-1619-16
*U2
178
10
10i4
*934
10
47
23
46
3
8
125
-
2012
5I4
1078
2812
912
512
46
*512
612
*3512 36l2
*3814 3812
4812 49
3la
312
125
♦120
*U2
*7234
*1734
*U2
I6I4
614
*10
10
10
10l2
7
7
7
7
* .40
.40 *.40
.60
Last Sale .50
.60
Aug’10
Last Sale 19
1912
Sept’10
*4
41?
412
*414
414
48
48
48
♦48
50
♦18l2
414
48
9
6512
.30
48
*..
5812
.60 .40
.50 *.45
*1812
*414
25
Last Sale 40
550
17
.12
*6
2012
2l4
25
634
65l2
2014
63!8
19
5712
32
6312
.60
13
6I4
34
7
Last Sale
42
42
612
*18
*543
17
7
43
16
.60 *,50
13
1334
6I4
1818
.
6
*6
42
6
♦3512
38*4
4812
3l2
2314
46
*212
*7lj
*123
178
4812
812
1134
55
6
3612
3834
49
3l2
23l4
4634
312
812
*471*2 *4*9*
812
812
*55*
*6*8*
6
36
6
3612
3834
4812
358
3812
4812
358
2318
2318
46i8
46
3
3
*712
120
Last Sale *134
Adventure Con
7,392 Amalgamated Copper 100
879 Am Zinc Lead & Sm._
Anaconda
*575
\rlzona Commercial.
Atlantic
200 bonanza Dev Co....
__
563 Calumet & Arizona..
7 Calumet & Heda....
10 Centennial
Cons Mercur Gold....
150
Daly-West
20
100
40
449
270
236
Miami Copper
5
25
Michigan
dohawk
25
Nevada Consolidated.
5
New Arcadian Copper 25
Niplsslng Mines.....
5
2,116 North Butte
213 North Lake
15
......
25
265 Ojibway Mining
25
100 Old Coiony
25
Old Dominion Co.—. 25
25
65 Jsceola
15 Jarrot Sliver & Cop. 10
5 Oumcy
25
215 Ray Consol Copper.. 10
36C Santa Fe Gold 6b Cop. 10
10
129 shannon
350 South Utah M 6s S...
5
25
1,728 Superior
140 Superior 6b Boston Min lu
77 Superior APltts Copp. 10
45 Tamarack
25
496 trinity..
25
......
— .
uoitedStatesCoal&OU 2u
280 U S Smelt Ref 6s Min.
253
Do
pref—
510 Utab-Apex Mining...
305 Utah Consolidated...
326 Utah Copper Co
...
Victoria
43 yV
—
inona ............
84 Wolverine..—'..
50
50
J’ne v
Jne20
J 'ne 16
J’ly 21
J’ly It)
Jail
3
Apr O
Feo 1(5
J’iy 26
j’ly 1
Maylo
Aug 22
Mny o
Aug 18
Aug 2
J’ly 26
J’ly 26
Apr 22
May 2
0
Mch 18
May 10
J’ly 28
J’ly 28
Apr 14
Ja
Mayio
214>4 Jan 4
2*4 Jan 3
108
Aug 5
99*2 Aug 3
]2b*? Aug 17
Alch.i:
J’ne3u
III4 Jan 15
153
100
Jan 24
28
27
Mch 3o
Jan 18
165*2 Jan 16
9'
2514 J’iy 9
6138 JTy 26
ill
J’ly 26
14
81
F'eb 1-i
Auglo
J’ly 13
J’ly 13
55U JTy 12
19*2 J’ly 26
36
Jly 13
12»4 May 4
4
31
J’ne 30
Mch 9
May 4
0i4 Feb 8
15*8 J’ne30
5
4434 JTy 12
JTy 6
13*? J’ly 15
.04 J.’ly 6
68
6
58
May
4«i2 Dec
10
Jan 17
May3i
Apr 14
Apr .
Feo 17
JTy 21
J’iy 12
6I4 JTy 13
.25 J’ly 26
9*2 J nejo
Dec
3
26
Apr
90*4 Meb
971? Apr
rl7278 Feb
ydi2 Mch
165
Jan
8
88
Jan
10
102
Oct
3314 Jan
Jan
5?>8 Jan
Jan
13
94
<-
Feb ll
127*8 Mch 2
r!14
124
£117
]25'4
2712
93i2
4i2
]5>4
334
125
Mch 2
143*8 Feb 24
391? Mch li>
IO4I4 Mch23
lli2Jan 7
28
Jail
0
8>2 Jan ll
1521? Mch
„
11*8 Jan 3
JTy 14
160i2Jaa 6
84i4 Mayi8
7
245
97
Mch 18
22012 Feb 2t
634 May 10
124
115
Jan
3
Jan 11
138i2 Mch 11
Jan
100
5
200
Feb li
121? Aug 15
3
18
94
Jan
Jan
6
3
10
58
Feb 1
Feb 26
0
47g Oct
Jan
Jan
Jan
Jan
.70
Mch 2 b
3
3
3
3
Jan 14
24i4 Jan 13
18i4 May25
28i2Jan 3
103
38
.16
85
Jan 3
Jan 3
Jan 3
Jan 10
Jan 3
9
sgMch€8
JTy 12
1334 Jan 3
2i2 Feb It
22t2Mch
<
J’neli
578 Jan 4
4434 Mch 9
28i2Jan 3
JTy 18
131? May 3
x6
Sep 1
36
Jan 12
11
Jan
5
JTy 7
LSi2 JTy 15
9
J’ly 23
4l2McU 8
Augdu
.40
.30
J’ly 19
17
JTy 18
3?g JTy 1
6*4 Jan 14
94>2Jan 22
J ’ly 26
75 Jan 22
271? Jan 11
3
43
17*8 JTy 5
312 JTy 13
934 Jaa 17
18
J'neju
6*8 JTy 13
5
Sep 7
.25
Aug t
29'2 Jne i5
114
J’ly 27
12
J’iy 6
66
JTy 6
1514 JTy
li2 J neat;
834 J Ty
li4 J’ne30
36
J’ly 19
738 JTy 14
9
JTy
451? J’ne2.
4*4 JTy 18
33
MchJl
3312 J’ly 2C
45*4 J ly 26
21? J
ly 22
I8t2 j’neai
74934 j’n.o3u
2i2 JTy 22
5
J’ly 13
102
JTy l:.
D4 JTy 26
Sep
200*8 Jan
J’ne
40
117*2 Aug
107
Aug
21834 Aug
117*4 Aug
176
Apr
98*8 Apr
112
Apr
60*4 Aug
JTy
9^8 Feb*
22lj Nov
136
Apr
131
Apr
105
4U*fi Aug
121?
311?
J’ne
Sep
Aug
8*4 Oct
147*2 Nov
13^8 Jne
260
Apr
173
Aug
83*4 Deo
97
Apr
220*4 Dec
3*4 Oct
125
118
139
108
199
12
Oct
Oct
Sep
Oct
Aug
Sep
114*2 Aug
34
35
170
71
Deo
Nov
Dec
Oct
31*4 Sep
94 ?8 Oct
131
19
96
Oct
Deo
Deo
10»2 May
Oct
Jan
Feb
Mch
62
38ig Feb
54
30
8
.45
18
Jan
.80
24
May
Feb
J iy
Feb
17*8 J’ly
8
Sep
213* Feb
96»4 May
585
Feb
29
Feb
TO
Jne
68*2 *’eb
7t2 May
9612 Nov
40*2 Dec
Deo
5134 Deo
Deo
1U4 Deo
33*>s Nov
Jau
119
695
Aug
4412 Sep
.35
Jan
8634 Nov
12
Mch
68
12i2Jan 16
llU4Jan 3
1178Jan 3
2
10
l26i2 Jan
Mch
28*2 Jau
4134 Feb
107
Feb
6i* Jan
76
Mch
34
65
23
9034
40i2
5334
5034
12i4
685
Jan
Jan
x54
9034Jan
125&S Jan
215
108
24U Jan
4
Oct
Nov
174-8 J’ne
149
Aug
19
84
Jan
Apr
Apr
Apr
934 Jan
Jan
100
20i2 May
Jan
Deo
145*8 Sep
Feb
Jan
168
Jly
Mch
Feb
Feb
Feb
Jan
75
10934 Jan lu
34t4Jan 3
31
May 6
199
Sep 9
7134 Apr lb
31
Nov
Nov
1503s Feb
59
Jan
89
Jan
202i2 Men
2
Jan
68
Apr
93
Jan
i2g14 Jan
J’ly 26
JTy 0
6*2 J’ly 29
1434 J ly 19
6
20
Oct
190
Mch
24
88iy SeD
105*4 Jan
Jan
7
87S Feb 11
J’ne
79
195
it
3
3
17
162
123
136
103
Nov
Feb
Apr
1
Feb
77*2 Nov
14I2 Mch
6614 Oct
I28i2 Nov
75
Jan
200
6
Jan
275
7j153
146
Mch
301
22
Nov
Jan
III4 Jan
58i2 Jan
4S78 Jan 16
104
Jan
143
115
267
160
J’ly .6
Feb t
46*4 J’ly
I32i2 Jan
Sep
1134 Jau
601? Jan
Apr 29
Mch
Jan
Jan
Jan
Mch
Jan
Jan
103*8
168
Jan
961? Mch
109
Feb
1251* Oct
J’ne
106
2391.1 Apr
Dec
135
235
Mch
153
Nov
Jan
295
Jan 7
Jan 3
Jan 19
Jan
6
Mch 16
Jan 6
200
35
116
106
2041?
98
Jan
10034 Jan
2231? Dec
Apr 7
212
Highest
12414 Jan
6
Feb 24
Feb :
Jan 2b
Jan
3
14bl4 Aug 25
Mch 8
Lowest
225
13634 Jan
227
152
298
16
76
Mch ll
Apr -2
J’ne 6
94
3
Apr lib
Aug-8
Aug 5
127'4 J’ly 26
26
J’ly 7
91
J'ly 1
7 6*4
89
123*8 Jan
104 *4 Jan 7
234
Jan 10
10
48
156
118
270
1331?
112
88
201
20
88
162**
Mch: •;
J’ne
50o
Oomln Steel Corp...
"457 East Butte Cop Min.. 10
Elm
River.......... 12
380
25
150 Franklin
5
3.267 Giroux Consolidated.
31 Granby Consolidated. 100
20
1,860 Greene Cananea
610 Hancock Consolidated 25
Helvetia
315
Copper
25
2,555 Indiana Mining...... 25
680 Isie Royale Copper— 25
5
680 Kerr Lake
325 Keweenaw Copper
25
Lake
841
Copper Co
25
55 La Salle Copper..... 25
25
327 Mass Consol
100 Mayflower
25
Mexico Cons M & S.. 10
19
Jan 14
87gJan 22
17gJan 13
5
29
Jan
Jan
7
4
8t2 Jan 21
10&8Jan 12
12
50
May26
Jan
3
2578 Mch 7
1234 Jan 14
134 Feb l
55
166
Jan
3
Jan
3
2134Jan
b
92
t
Mch
2434 Mch b
2*4 Jan Ci
18
Jan
3
334 Jan 19
G8I4 Jan 14
18
Jan 12
16*8 Jan it
78
6
11*8 Jan 3
4034 Feb 15
Jan
712 Feb
Oct
1
13
Feb
7*8 J’ne
Feb
90
9
Feb
8U Sep
5i2 Dec
22>8 Apr
7i2 Apr
2i2 Mav
16
Jan
1034 JTy
4U Mch
.30
16*>8 Apr
21? Jan
19
Aug
12i4 Nov
110i2 Deo
14*8 NOV
38
33UFeb
9*8 Aug
€7*4 Dec
74U Deo
19*8 Deo
18U May
1
6
Apr
3i2 Apr
1234
534
z67>2
16*2
Feb
Oct
28*8 Deo
13U Mch
70*8 Jan
Feb
30
978 Oct
Dec
4l2 Mch
584 Nov
.40
Jne
47U Feb
122
19
83
Dec
Nov
j ly
3»? Nov
47
Dec
7i2 Aug
Feb
Dec
Dec
Nov
838 Deo
Sep
13
8514 Jan
117* Aug
14i?
.90
59
170
Deo
Deo
Aug
Deo
36U J’no
99
Jan
lt2 Nov
13i2 Feb
27g Jan
177* Jan
Jan
13ig Nov
67
34
Dec
I8i2 May
I8i2 JTjr
127s Apr
J’ly
9>4 Dec
62
90
Feb
Jan
3
28
39
Jan
Feb
17&* Jan
39*2 NOV
59
Sep
63i8 Jan
514 Jan
3
3
44
4
uan
54
Oct
46
3
87*4 Feb
3934 Feb
6*4 Jan
49*4 NOV
55
Jan
G0i2 Jan 3
534 Jan 14
15
i50
Jan 14
Jan i
334 ,ian 14
3
Oot
4*4 Apr
189
Mch
>
66
6
061
NOV
DOO
113*4 Deo
168
Aug
2
Oct
Wyandot
stock,
e Ass't paid. 0 Ex-stock oxv. /» Ex rights, a i^x-div. and rights.
....
a .sew
115
115
10
25
I
J’ly 27
4*8 Aug 2
14
J’ly 16
.60
10
25
Aug 2
J’nelO
Aug 2
33
J’ly 27
98*1 Mch-li
25
10
5
‘165 Copper Range Con Co 100
8
* Bid and askeu paces,
25
25
25
Bos&CorbCop&SllMg
1,030 Butte-Balaklava Cop. 10
250 Butte Coalition...... 16
100
121
Aug’10
25
25
40 Ailouez
JTy 26
J’ly b
yy
American woolen.._.100
Do
100
pref
Atl Gulf &WISS L.100
7
16
Do
pref
100
Boston Land
10
412
Cumb Telep & Teleg.100 I38<2
East Boston Land
7*8
Edison E’eo Ilium...100 <-i23 9
General Electric.. __100 135
Mining
*6
*40
62
25
Highest
Lowest
Atch Top & Santa Fc.100
91*2
Do
97*?
.100
pref.
Boston & Albany....100 218
Boston Elevated
100 £l22
Boston & Lowell
lOu 200
97*8
*97ig
Range for Previous Year
(1909)
Range Since Jan. 1
EXCHANGE
..
9612 9612
*995s 10058
Daily, Weekly and Yearly
Sept. 10
1910.]
Boston Bond Record
•K>
BOSTON STOCK ifiXOH’dE
Wkkk khuijju sept 9
^
Fries
II
Week’s
hYiday
111! January
or
Last Sale
Sept 9
UOlMIS
Mange
\
Mange
647
Since
1
3a -2
BOSTON STOCK EXCH’GE
WEEK ENDINH SEPT 9
Bxu
Am Agrioul Chem 1st 5s..1928
Ain 'i'eieu <fc lei cou tr 4s. 1929
Convertible4s
1939
Am Writ Pauer 1st s 15s g 1919
Am Zinc L& S deb 6s.... 191J
Anz Com Cop 1st conv 6s 1920
AtonTop Jb b Fe gen g 4s.. 1995
A-O
j . j
M-8
j . j
M-N
j d
a etc Lov>
High. ho Low high
2
101% wale 101
101%
100% 103
89*4 Sale
89<%
89% 66 89
93%
100
100 1
100*a 100
99% lort
87% J’ly’10
*7% 87%
«,
105
00
A-O
Adjustment g 4s....JTy 1995 Nov
Stamped
J ’ly 1995 M-N
60-year conv 4s
1956 J-D
10-year conv 5s
1917! j-D
Atl Gull & W 1 SS Lines 5s.’69l j. j
Boston Elect L consoi 6s.1924 M-S
Boston <to Lowell 4s
1916, J - J
Boston Ob Maine 4Sis
1944' J-J
Boston Terminal 1 st 3 %s. 19471 F -A
Bur <fe Mo Kiv cons 6s ....1918, J-J
Butte A Boston 1st 6s....1917 A-O
Butte Eiec&Pow Istg6s.l96l! j-D
C^dar Kap da Mo K 1st 7s.1916 M-N
Cent Vermt 1st g4s..Mayl920j%-F
c B <fe V Iowa Div 1st 68.1919; A-O
Iowa l)iv 1st 4s
1919 A-O
1918 M-N
Debenture 6s
1922 F-A
Denver Exten 4s
Nebraska Exten 4s
1927 M-N
B<b 8 W 8 1 48
1921 M-S
Illinois Div a *28
1949 J-J
Ohio a o Ky
btk Vue 5s .1915 J-J
Ooll trust retunding g 481940 A-O
Ob Mil A til P Lub D 6s.. 1920 J-J
Ob M <& tit P W18 V div 681920 J-J
Oblc es No Mien 1st gu 6s.l9ai M-N
Ohio & W Mien gen 6s....1921 J-D
Concord & Mont cons 48..1920 J-D
Oonn & Pass R let g 4s... 1943 A-O
Oudaby PacK.(Tbe)lstg 6sl9 4 M-N
Current Kiver 1st 6s
19.7 A-O
DetGrKap&W 1st 4s... 19 lb A-O
Dominion Coal 1st s l 6s.. 1940 M-N
Fitonburg 4s
1916 M-8
...1927 M-8
4b
Fremt Elk & Mo V 1st 6s.. 1933 A-O
Unstamped 1st 6s
bale
93
98%
9834
89
89
91
91
105
91
98
106
Aug 10
8ep ’10
88% J’ly 10
9i% Mar’10
102% JTy’10
117% Feu’10
65 % Sale
66
f®
”86*4" 87**2
89*4
ib’6%ioo%
100% Sale
*99*" ibo*
[••
87 %
87 %
U103 Oct’07
98% J’ne’10
101% Mar’10
99%
99%
99
Mar’10
Gt Nor U B A W ooll tr 4s 1921 J-J
Aegis terea4s
1921 <4-J
e
87%
100
100%
90% Aug’10
_i.6% Ja
126
Feu'05
99
May’10
100
100%
91
Doc ’07
Anr’10
Mt
63
73
..1917
Minne Gen Elec con g 6s 1929
New Eng Cot Tarn 5s....1929
New Eng Teiepb 6s
1915
....
io3
....
103
*11*3% 11*4*’
***6
85
88
*9*8% *98%
101% 101%
99% 99%
”‘i
99
i
•
•
•
99%
86% 88%
..•1 1
•
100
89
101%
92%
115% 115%
i‘o*6%
99
100
*19
112% Jan ’03
100% Aug’09
104
::::
99
89
99
96%
98%
90
....
1
i
96%
»
....
I
Teleplst 6s
Bio
*94% *9V%
1 94% 96%
Week’s
Mange
.Stfj Low
100
92
93
i*l*4% 1*1*6 ‘
91%
91
101
104
hig/l
January 1
Low
.Vo
high
99%101
Aug’10
117
Apr’08
93% Mai’10
99% Feb’l >
114% Aug’10
92% AukTo
91
Aug 10
103
Mar"10
93%
97
99%
99%
...113
118
92% 93%
91
92
>102
103
115
98% Sale
J- J
J.J
102
F-A
A-O
Greg Ry do Nav con g4s.. 1946 J-D
Oreg tib Line 1st g 6s
1922 F-A
Pere Marquette deb g 6s.. 1912 J.J
Repub Valley 1st s I 6s...1919, J - J
Rutland 1st con gen 4 *as. 1941 i J - J
Sale
J’ne’08
97%
98%
97
Aug’ 10
102 % A(ik’04
102
102
102
Feb’09
100*2 Sep ’08
23,
97
97
2
102%
103
94
104
97
77
Apr’10
77
99
131
101
Sep ’10
J’ly ’10
131
79%
96% 102
113% 116%
98%
78%
Aug’10
Aug’10
Api ’07
103
38
100% Mar’1(t
99% Apr’10
**9*6” *96%
U ti Coal db Oil 1st s f 6s.. 1938 M-N
U ti Steel Corp 10-60 yr 6s. 1963 M-N
West End Street Ry 4s
1916 F-A
Gold 4*28...
1914 M-8
Gold debenture 4s
1916 M-N
Gold 4s
1917 F-A
Western Teiepb & Tel 6s. 1932 J-J
Wisconsin Cent 1st gen 4sl949j J • J
142
162
95%
78%
104%
110
103% 109%
29
95% 96%
1 145
160
145
103% Aug 10
93% J’iy *10
101% J’ne’09
98% Apr’10
97
Aug’10
101% 105%
97
98%
95
11
95%
94% Jan’iu
No price Friday; latest bid and asked.
99
100% 100%
99% 10U%
108% Apr’10
96
96%
145
9o*a
136
Apr’09
99
.a ai’lo
105
l>ec’08
107 % .Nov*o5
102
Mai’02
78% Apr’lJ
103
95
97
99%
99%
100% 105
98% Sep ’09
113% Aug’10
Rutland-C&n&dian 1st 4sl949! J - J
Savannah Elec 1st cons 5s.l952' J-J
Seattle Elec 1st g os
193U F-A
Shannon-Ariz 1st g 6s.... It* 19 M-N
Terre Haute n,iec g 5s
1929, J -J
*
Since
£3
113% Nov’06
101% Sep ’05
6s
1916A-0
New England cons g 6s... 1945; J - J
Boston Term 1st 4s
1939; A-O
New River (The) conv 6s. 1934 J - J
N YNH&H con deb 3 %sl966| J - J
Conv deb 6» (etts) ...... 19481 J-J
Old Colony gold 4s
1924 F-A
Note—Buyer pays aoorued interest in addition to tbe purchase prloe tor all Boston Bonds.
!ioo
Mange
15
or
Last sale
A
99
Torrington 1st g 6s
1918 M-S
Union Pao KK&igrg48.1947:J-J
1927! J. J
•<:0-year conv 4s
United Fruit gen s £4%s.l923 J-J
1
....
96^ Sale
95*%
94 **
Illinois Steel deben 6s....1913! A-O
la Falls & Sioux Cist 7s.. 1917 j A-O
Kan C Clin <fc tipr 1st 6s... 1926 A O
Kan C Ft ti db Gull ext 6s.. 19111 J -D
Kan C Ft Scott & M 6s....1928 M-N
Kan C M & B gen 4s
1934 M- S
Assented income 5s
1934 M-S
Kan C & M Ry «fc Br 1st 6sl929 A-O
Maine cent cons 1st 7s... 1912 A-O
Cons 1st 4s
1912 A-O
Maro Hough JbOnt 1st 68.1925 A-O
Mass Gas 4 *28
1929 J J
M icb
Oct ’09
96
133
140
1933 A-O
•
87%
*9*8** * *98**2
101%
94%
102% 102%
117% 117%
8
il3% May’1*0
99
89
91
98
94
66
99
107
93%
88%
110
Feb’04
100% Mar’09
104 *2 Oct ’08
112*a Jan '03
103
Feb’10
100
J’ne’Ol
100
97
irrxer
Friday
Sept U
98 *2
97
99%
94%
94%
99
99
94%
^ Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
share Prices—Mot Per Centum Price*
Saturday
Monday
Tuesday
Sept 8
Sept 5
Sept 6
i
i
Wednesday
Thursday
Sept 8
Sept 7
tYiday
Sept y
Sales
ACTIVE STOCKS
ot the
Wee k (For Bonds and Inactive
•
•
6
f
67
127%
*
20
|
*19%
*
42
15
14%
*14%
20
*19%
14%
14%
_
*20
67
*85
-126
127
*19% 20
140% 41%
*14% 14 %
14%
•
b
18
L,
►
p
43%
0
KJ
•
:
•
‘
21
•
4
•
71
*11%
11%
48
*26%
26%
*47 %
*26%
70%
26%
70%
47%
47%
26 %
70
21
90
7u% 70%
.
77
63%
*4l
21%
21%
22
22
90
90
90%
90%
78
78%
77-%
63%
43
15
64
44
64
44%
78
61
44
15%
15%
17%
18
44%
15%
17%
15%
17%
15%
17%
15%
17%
69
69%
6a %
69
81
81
81%
81%
Ask
stocUa
%
8
19%
8%
60
60
10
Little Schuylkill
60
Minehili & Schuyl H..60
13%
4%
14
67
60
......
N Haven Iron & steel.5
Northern Central
50
Pennsylvania Salt
60
Pennsylvania &ieel.,100
i*U*8%
Preferred
60
Hallways General
10
Busqueli Iron & steel..6
Tidewater Steel
10
Preferred
10
Union Tr of Ind
loo
United N J RR <& C.. 100
41
42
83%
9%
84
10
......
243
**10*’ *10%
WelsbaohCo...
••••••
63
Elec..100
Bid
81%
Ask
82
•••••a
•••••a
•Bid and asked; no sales on this day.
103
102%
”8*8%
1943 ..F-A
4s
Lehigh Nav 4%s ’14.Q-J
RRs 4s g
1914.(J-F
Gen M 4%e g.l924.U-F
Leh V C 1st 6s g ’33..J-J
Leh V ext 4s lstl948. J-D
2d 7s 1910
M-S
Consoi 6s 1923
J-D
90
U Ex-rights,
6b
100%
108%
103
146
|fl6pald.
861 U nion Traction
United Gas irnpt
.
1,441
PHILADEliPHIA
Brewing
*99%
99%
t#ia%p»ld.
ioi%
JTy 26
J’ly 6
15% J’ne30
yr 4s 1925
97
101
90
80
Ask
^35 paid.
34% Jan 29
84% Jan T0|
13
*aniu|
28%Jan
Feb
Feb
Feb
28% Leo
48
Deo
14% Deo
ibT%j
226
15% Jan
24% Jan
75% Sep
61% Deo
14 % Dec
36% Apr
69 % Feb
6% Jan
86 \ Sep
7i3ie Mar
60% Jan
84% Ua>
68% May
63% Feb
4b % Feb
11% Fob
95 % Deo
Mid
2d7s'l0A-0|
City 3b tiub 1st 6s..’22 J-D
I Ask
105
City 3b tiubi Was)lst 6s’48' 101
102
IU0%
105% 107
1U7% 108
72
<3a oc, Aia 1st con os
103
80%
GaCar3bN lst5sg’29J-J
Georgia P 1st 6s...’22 J -J
j
101%
230
6
10
96
75
2%
100%
88
MaoonRy<& Ltlst5s’53J-J
Memphis tit 1st 5s’45 J -J
Mettit( Wash)lsl5s’25F A
Mt Ver Cot Duck 1st os.
N pt N3bU P 1st 6s’38 M-N
Nor&PorTr lst5s’36J-D
Norloik til 1st os’44..J-J
North cent 4%s 1925 A-O
Series A 5s 1926....J-J
Senes B 5s 1926....J-J
Pitt Un Trac 5s 1997. J J
Poto Val 1st 5s 1941..J-J
tiav Fla <& West 6s ’34 A-O
tieab <& Roan 6s 1926.J-J
Mouth Bound 1st 6s..A-O
U El L&P 1st 4 %s’29 M-N
Ky & El 1st 4s ’49 M-S
Income 4s 1949
99% 100
aoJ -J
Gatio 3b Fla 1st os 1945J -J
G-B-ti Brew 3-4s 1951M-S
2d income 5s 1951 M-N
Knoxv Trac 1st 6s ’28A-C
LakeK Ei 1st guos’42M-ti
Un
103
Deo
49% Deo
12% J’ly
63% J’ly
33% Deo
84% Deo
Coal 3b 1 Ky 1st 6s ’20F-A)
Col3bGrnv lstbs.l916J-J
Coi*Hol Gas os..1939 J-D;
Ctfs indebt 4 SiS
J-J:
Cons G E & P 4 -vs ’35. J -J
Fair3b CiTr ^st5s’38.A-O
115
100
Jan
43
48
63
Jan
9 % Jan
15
Apr
14% J an
33% May
96
Jan 125 % Deo
6/
Feb 113
Sep
BA L IT MORE
|
Chari C 3b A
30
66
1
J-J
Mar 48
Deo
Mar 89
May
Jan 121% Deo
3
25
Dec
Jan 6
44% JTy
53% Jan 10
32% Feb
12 % Jan 14 xiu% Jan
64% Marll! 43 Jan
J’ne3u 123
83
100
B8PAO I8t4%s ’63F-A
Balt Traolst6s..’29 M-N
No Balt Div 6s 1942 J-D
Cenfl Ky eon6sl932 M-N
Ext* Imp 68.1932 M S
Ohas City ity 1st 6s’23 J-J
Chas Ry G A El 6s'99 M-S
4 f13% paid.
86
114
99%
92%
70
Bonds
Brices are all ** and
interest
Anaoostiadb Pot6s.......
At* Coast L(Ot)otfs 5s J-D
Ctfs of indebt 4s
J-J
I highest
Lowest
Jan
8
Jan 7j
62% J’ly 27 121% Marla|
60 61ul« J’ly 38 6»aie Mar 9
60 42 J’neJo 63% Jan 8
25 413%Deo 3 16% Mar 18
60 15
Apr 28 2a % Jan 3
60 65% J’iy 26 86
Feb la
1
6% Jan 2*>
May 13
60 41% J’ly 26 6 2% juu 3
60 79 J’iy 26 95% Jan 10
100
Balt <fe P let 6s m 1 ’ll A-O
• •••••,
64
7
28
60
60
60
Georgia Sou3b Fla... 100
1st pref
100
G-B-S
J’neJO
19% J’ly 26
«
Ala Cons Coai3b Iron. 100
Pret...
100
Atlanta <fc Charlotte.. 100
Atlan Coast L (Conn) 100
Canton Co
100
Cons Cot Duck Corp...60
Balt CPaas 1st 5s ’ll M-N
Balt Fundg 6s.l91« M-N
Exchange 3 %s 1930 J-J
98% 93%
102% 102%
94% 96
10i% 10a
76% 76%
42
l
Weisbach s f os 1930.J -D
Wlks-B G<fcE oon5s’55J-J
0-20
108
40% J’ly 26
11 % J ’ly 29
Bid
Spanish-Ain Ir 6s ’27 J-J
IT 'Trac ind gen 5s’19.J-J
Un Rys Tr oils 4s’49J 3b J
United Rys Inv 1st coil tr
8 f &s 1926
.M-N
U Trac Pit gen 6s ’97 J-J
2d pref
ioT*
-T’nel7
41% J’ly 2l
Keystone Telephone... 60
Preferred
90
18
676 Bake superior Corp....100
126 Deiugli U db Nav tr ctfs. 60
BAli'iTiHOttE
Inactive Stocks
..J-D
Gen cons 4s 2003.M-N
Leh V Tran con 4s’85J-D
1 st series B 6s 1935.M-S
N ew Con Gas 6s 1948 J -D
Newark Pass oon 6s 1980
N Y Ph<& No 1st4s’39 J-J
Income 4s 1939...M-N
N ochioTrao oon&s’ 19. J-J
Penn Cons 6s 1919.. Var
Penn & Md Steel oon 6s.
Pa & N Y Can 6s ’39. A-O
Con 4s 1939
A-O
Penn Steel 1st 6s *17 M-N
People’s Tr tr oerts 4s ’43
P Co 1st* col tr 6s’49 M-S
Com* 001 tr 6s 1951M-N
Phil Eleo gold trust ctfs.
Trust oertifa 4s
P A E gen M 6 g?20. A-O
Gen M 4s g 1920..A<&0
14
816
10
196
25
423
Ph 3b Read 2d 6s ’33.A-0
Cou M 7s 1911.....J-D
Ex Imp M 4s g ’47.A-O
Terminal 5s g 1941-O-F
P W 3b B col tr 4s ’21.J-J
Portland Ry 1st 6s 1930.
Roch Ry<fc Leon 6s ’54J-J
Indianapolis Ry 4s. 1933
Annuity 6s
North Pennsylvania..60
Pennsyi RR receipts....
Bethic Steel 6s 1998.(J-F
Choc<feM6lst6s 1949 J-J
Ch OkdbG gen 6s’19 J-J
Col tit Ry 1st con 6s 1932
ConTraoolNJ let 5s.’33
E & A 1st M 6s 1920 M-N
Elec db Peo Tr stk tr ctfs
Eq 11 Gaa-L 1st g 6s 1928
Interstate
4
I
43 %
highest
<>
50
American Railways.... 60
Cambna Steel
60
Electric Co oi America 10
Elec Storage Battery..100
Gen Asphalt tr otis ....100
Do
prel tr ctfs ....100
8,5 91 Lehigh Valley....
862 Pennsylvania RR
241 Phiiadeip’aCo
(Pittsoj.
672 Philadelphia Eiectriog.
15%
13% l,26u Plula Rapid Transit...
69% 1,655 Beading
20 Tonopah Mining
81316
Berg&EBrw lst6s’21 J-J
*71%
19%
PlliliADEliPIllA
Bonds
lYrices are all 4‘ and
interest
Alt &LV Eleo 4 %s’33.F-A
Am Gas <b Elec 6s’07. F-A
Am ttys conv 5s 1911.J -D
Atl City 1st os g ’19.M-N
Indianapolis St
lbb
Indiana Union Tr....lbb
Insurance Co of N A..10
Inter Sm Pow<feCbem.5U
Keystone Telephone ..5U
69 % 69% 6s1619
*8% 8l3ie *8D18
43%
43% 43%
81
81%
81%
8% *fii%e S^ia
•
Bid
17%
43%
Lowest
18 American Cement
8%
90%
78
63%
43
I
48
21
43
American Milling.....lb
Amer Pipe Mlg
10b
Bell Telephone (Pa).lbb
Cambria Iron
oU
Central Coal & Coke.lbb
ConsoiTracof NJ...100
Easton Con Electric 6.6b
Ft Wayne &W V
lbb
11%
*26%
6b%
11%
44%
••••**
«to
11%
*47%
42%
42%
PlliliADEliPIllA
Phila Traction
42
43%
42
42%
Preferred
Key ston e Watch Case
Leh Vail Tran v t o.
Preferred v t o
Lit Brothers
43%
43%
t
•
inactive
26%
21%
8%
i
i
47
90% 90%
77% 78
036ie 63%
•
*
11%
43%
42%
43%
*41%
*11%
*8
t
a
*11%
26%
*7b
to
t?
>
43%
41%
47
0
PS
0
tr*
41%
18
43%
42%
below)
Yearfiyuy)
Philadelphia
•
l
see
Mange lor Frevious
Jan 1
Baltimore
I
110 Con. Gas EL L. db Pow.100 40
Mar21 60
May23 30
Do
prel
100 80
Marl 1 90 J’ly 14
76
Northern Central...... 60 115
Jan n 132
Feu 28 100
Seaboard (new)
.100, 18% J’ly 29 27% Jan 3 11%
Do
2d prel........100 41
J’ly z7 47 Jan 8 22%
434 United Ry «& Electric.. 60 12% May 3 15% J’ly 16
9%
'
S
Wilkes Gaa
127% *125
t
s
•
■
*
Stocks
Shares
Mange Since
J-D
Funding 6s 1936...J-D
VaMid 2d ser 6s ’ll.M-ti
3d senes 6s 1916..M-ti
02% 03%
4th ser 3-4-6s 1921.M-S
6th series 6s 1926.M-ti
01% 92
100
Va (State) 3s new ’32.J-J
107
Fund debt 2-3s 1991. J-J
108
110
West N C con 6s 1914 J-J
106
106
WeeVa C* P 1st 6a* 11J-J
102
WU A Weld 6s..1936.J-J
104
90
92
106
99
78
80
95%
104
103% 104 %
lib
106 %
4b
i"o7
41%
100
8%
103
97
98%
•
......
96
106
70
71
82%
101
102
lu5
105
105
105
106
88
84
89
84%
69%
69%
82%
83
100
100
105
106
tatflM
86
86
106
ioSU
100% 10t%
105
108
aRsoeipts. 6926 paid. • $30 paid. d$48% paid.
648
THE CHRONICLE
Volume of Business at Stock Exchanges
Til AN » AOTION3 Ai THE NEW YORK aiOOiv EXCHANGE
I) \ILL WEEKLY A 41> YEARLY
Stocks.
Railroad.
Week ending
Sept. 9 191Q.
Shares.
Saturday
Monday
Tuesday....
Par value.
275,759
Total
Sates at
New York Slock
$247,000
73,000
45.500
30.500
978,838i $85,741,900!
$4,288,.)00l
$402, ,00
Week ending Sept. 9.
Exehan/j*..
1910.
Stocks—No. shares
Jan. 1 to
1909
bonds.......
$402",000
$559*,666
4.2 -*8,000
15,706,000
SIO^OS.OOO1
$4,690,000)
TRANSACTIONS
AT
BOSTON
EXCHANGE3
AND
Jdsled
Unlisted
.
Shares.
shares.
Tuesday
7,f62
' ‘
Listed
shares.
$62,000!
8.959
5. „0
6,684
5,428
6,648
3,988
28,2i2
22,728
$198,000:
* 1_
Wednesday
Thursday
$959,043,000
PHILADELPHIA
5.881
Friday
Total
58,000
44,000;
34,000;
bond
prices
are
“and interest’
now
3,080
3,614
$32,200
47.500
41,700
24.500
2,727
2,7 5S
4,559
4,030
3,632
17,081)
14,979;
7,660
Street Railways
Bid
S145.900
^
60
140
100
1st
1st 5s 1921
A-O
J C Hob & Paterson—
4S
g
M-N
1949
So J Gas El & Trac.100
Gu g 5s 1953...M S
No Hud Co Ry 6s 14 J-J
5s 1*28
J-J
Ext 5s 1924
M-N
Pat City con 6s ’31.J-D
2d 6s opt 1914.. A-U
So Side El (Chlo)—See Ch
Syracuse R T 5s '46..M-S
Trent P & H 5s 1943.J-D
United Rys of St L—
Com vot tr ctfs.... 100
e Preferred
100
Gen 4s 1934—Sea Stock
U nitRys San Fran See Stk
90
86
Cea t*k N & E R stk ..100
15
26
Chr'fc’r &10tl» St stk-.lOO
80
90
Col & 9th Ave 5s See Stock Exo list
Dry DBB & B—
1st sold 5s 1932
95
J-D
100
Scrip 5s 1914
40
F-A / 30
Eighth Avenue 9tock.lOU 250 3 id)
100
Scrip 6s 1914
F-A 1 95
42d & Gr St F’y stk -lOo 200
220
42d St M & St N Ave. 100
1st mtge 9s ialO.M-:?
2d Income 9s 1915. J-J i 25
Inter-Wet—See Stk Kxch ange list
Lex Av & PaVF 5s See Stk Exo list
Metropol St Ry—See Stk Etc list
Ninth Avenue stock..100 155
ISO
Second Avenue stock.lOu
10
16
l$t M Ss’O0 ext fo.-M-IV ;
HM
Consol $s 1948.__.F-A i 50
<«0
• Sixth Avenue stock..100
ISO
110
Sou Boulev 5s 1945
J-J
So Fer 1st Bi 1919... A G
Third Avenue—See Stock EXe (1st
80
Tftrfy \V P A M 5s 1928 / 50
YkersStRR5s 1946 A
$5
75
28 th A 29th Sts 5s '96 A
30
1 15
Twenty-third St stk..!
190
215
Union Ry 1st fb 1942.F-A 100
102*£
Westchest 1st 5s '43 J-J
65
75
,
-
T-
_
_
„
„
.
_
...
Wash Ry & El Oo....l00
Preferred
,
-
-
-
102
102
160
list
100
T9
971-
list
75
83
80
too
1st
_
....
105
nst
92
105
103’
104
98
....
102’;
76
80
1st
87
IU5
61
1st
112
101
„
.
.
77
e Preferred
ioo
Madison Gas 6s 1926. A-O
Newark Gas 6s
1944._Q-J
Newark Conso1 Gas.. 100
eCon g 5s 1948J-D
No Hudson L H & Pow—
5s
Per share
o
Basic,
a
Bella
®ti SUL
1938..
A-U
Pacific Gas & E, oom. 100
Preferred
100
Pat & Pas Gas & Elec. 100
* Con g 5s
1949.. M-J"
St
a
•
73
125
96
102
102
9$
74
i.28
93
.
& lN Y 1st 6s 191I.J-.)
n 4 E H Ferry stk. 100
1st 5s 1922
ti-i\
il
Joseph Gas 5s 1937 J-J
Ex
.
93
20
65
sY&Hob
as May '46 J-D
Hob Fy 1st 5s 1946 M-N
SI ¥ & N J 5s 1946....J-J
loth & 23d Sts Ferry. 100
1st mtge 5s 1919
J-D
s Union
Ferry stock.. 100
e 1st 5s 192J
.vi n
95
100
94
oO
65
tee I
27
93
9(Ji8
97*1
H31*1 -J-L)
us
out not very aowve
....
.
112
.
100
tea go
1
lol
0*
1
11*4
60 f
EXC
txc
32
88
;
Kk3a
12
Seaboard Company—
1st preferred
60is
...100
L
Com & 2d prei—See Bal
1
Seaboard Air Line—
33
Coil 5s ext May ll.M-S
90
Weal Pac 1st 5s '33..M-S
$4
i
97
100
95
40
1
97
98
50
75
102
1
1
99
55
.
106
45
41
*39
28 i
101
5S
11,
AMGf&WindSSL nes-100
Exc
90
Preferred
Col tr g
95
90
74
t
Esc
931;
80
35
66
Casualty Co of Amer.. 100
Ceilulp’d Co
.....100
Gent Fireworks com.. 100
85
92G
901?
Preferred
Central Foundry
lOu
90
100
93
Copper
Co
Ontario SUver
Otis Elevator com
Preferred
S995S
93*4 Pittsburgh Brewing..
l
10
10.
loo
00
5,i
91
190
26
*4!-)
‘
38
98
98
U3
225
Vi)*;
15
69
LOO
105
8*g
»19
7
190
87*2
*65*4
SwlCt <5c Co—See
1st 5s—S^e Ct]
Texas Company
i'onopah Min (Nevada)
*4-14
*18*2
2
55
125
123
2
10
60
140
126
4
30
Un’ted Bk Note Corp.
t
)
e
Preferred
ioj
25*3
*2 R
sO
Exc
MO
25
-*
>
U S Casualty.
J
J
J
Chesebrough MfsrCo..l00
City Investing Oo.__.100
Preferred
lOu
700
60
-70"
105
95
H5
105
1
II
92
0
95
k
7u'
92
93
iy
50
80
1(9
39
1st g bs 1919
J
Con z 5s 192 y
t
U S Steel Corporation—
....
•-
Westchester <fc
V-
ti
>
20*2
nie
60
•lot
35
80
205
100
*1034
*lll10
2
44
8$
*23
»*
Exc
60
100
140
5
107*
1*4
2*2
48
91
23*8
42:U
list
65
80
^05
142
120
195
106
128
95
280
11
22
1*
14
45
84
601
list
list
137
105
150
87X
8
55
30
99
1001*
*50
5914
4*4
15
215
47
110
96
107
190
95
45
UO
110
46
£1
62
103
47*
35
62
113
101
112
105
100
114
114
115
110
Exc
120
llS
list
i
i\
k
Exo
u
10$
e.x-rtghts.
20
5
40
45
20
0
160
0 *U9
y
1
113
•203
-4
95
60
x e.x-uiv.
"
!
75
195
99
J
Sale price,
110
*42
J
Clatlln (H Bi com..100
• 1st preferred
10O
• 2d preferred .
.100
Col & Hock Coai&I pt 100
1st g 5s 1917
J-J / 50
Col tr 6s Oct 1956..J-J / 45
coasol Car Heating...100
u
w
ist
136
9*4
40
105
105
1912
21 j
—-*
31
21 2
4
l
■-,
8
♦83s
13712 -’43
113
105
5
,
—
*21
133
y
20
112
102
6
36
—
*1*4
....
20
66I4
f
•
4:>
1 J
100
11
42
80
6)8
Exc
Exo
0884
9*2
•
,7o
fa
400
42
104
3
•
1
«
t
'30
30
85
/16
514
27
t
....
1st M g 5s ’31 red.A67
215
25
87
105
40
l50
270
8
18
2
5
12
62
230
118
102
108
list
45
95
83
23 .
82
104
120
100
s
70
101
103
40
nxvatmnat.
87
86
25
103
100
13$
112
188
155
/ 35
/ Fiat pnoe.
i'2
88*2
L52
112
145
20 3
11J
Y5
’01.M-N
e
$8
Ohio
e
100
Preferred
Deb 6s 1919 op
99
76
list
0
....
c
Pittsburgh Coat—See Stk
205
395
V3*2
130
175
135
1
l^anston Monotype
lOo
Lawyers Mtge Co
loo
&
u,eh
Wilkes-B Coal, do
30
110
tk Ex 1st
50
121
5o m
<22
Preferred
Bond A Mtge Guar
100
Borden’s Cond Mllk__100
Preferred
too
British Col Copper...
5
Butte Coalition Mining 15
Casein Co of Am com. 100
Preferred
100
.....
102
110
56
16
85
u7
5s 1959
Barney & Smith Car.. 100
Preferred
lOu
Beth”m Steel Cotp—See s
85
127
y7
103
100
J J
...
Bliss Company 00m..
92
1st Os 1945
J-u
luternat Smelt & itofg 10o
nternat TLsu itc'*o*U-10a
i'roferred
lo,
Jones He Lauguun Meei Co
1st S f g 5S IU39..M N
jLackawanna Steel
10U
e 1st con 5s I9oo
M-.
£ DeD o3 19J C_.
Nlplssing Minus
American Book
...100 150
American Brass
100 119
American Chide com. 100 220
Preferred .........100 100
Am Graphophone com 100
5
15
Preferred
100
Amer Hardware
10U 117
Am Malting 6s 1914..J-D
99
Amer Press Assoc'n__l00 109
Am St Found new—See S tk Ex
6s 1935
A-O
99
Deb 4s 1923..
F-A
65
94
Exc
4
„
Preferred
American Surety
50
American Thread pref
5
Am Tobacco Co corn__10t
Amer Typefders com. 100
Preferred
1Q„
Deb g 6s 1939-..-M-N
Amer writing Paper..100
Preferred
100
1st s f g 5s '18 op ’09 J-J
V978
Lorflard <P> pref..IlOo
vlatl'.son Sq Carden..loo
2d 6s 1919
M-N
Manhattan Transit
2t
Stoc
Exc Mononganela It Coal.. 50
Prelerred
5u
list
(Mortgage Bond Cfe;__loo
N’at Bank or Cuba
/ 85
100
Nat’! Surety
100
/ 59
i Nevada Cons’d
5
/
Copper a
414
47g Nev-Utah Min & Sin. lo
eNew Centra! Coa:
20
N Y Air Brake 0&—See Stk
1st
anje
N Y Biseu.t 6s lyu.M-s
t Eac list
eNew York Dock....100
95
L05
e Preferred
’*32
34
luo
N Y Mtge & Securuy.lou
*70
74
N Y Transportation._ 20
Niles-Bem-Pond cotn.iou
90
Industrial and Miscel
Adams Exp g 4s 1947 J-D
89
Ahrnoek Mining....
25 *185
Alliance Realty
100 120
151
*44
Chic Peo * St L—
Prior lien g4 Hs'30. M-S
Con mtg g 5s 1930..J-J
Income 5s. July 1930..
Chicago Subway
100
Northn Securities Stubs.
Pitts Bess & L E
50
Preferred
50
Railroad Securities Co—
III C stk tr ctfs ser A 52
«912 1
Exo
Railroad
5Chic Gt VVcom tr ctfsi^w
e Preferred ir ctf,5. .)
4
26
42
...
-.
9M*
'W..M-N
U5*4
Chic it Alton 5s '13
iVt-S
98-C
Cln Ham «Se D 4s 1913.J J
C C C & St L os, June 'll
100
ludsou Companies—
6s Oct 15 lull
A-O
97
6s Fbb 1 1913
p-A
96
intern R T g 6s 1911 _;*t N
luu^ lUl'.i
*v C
Ry*Lȣht Gs 12.M-;
u8
Minn & Sc L g 5s '1 l.F-A
97
99
NYC Lines Eij 5s 10 22 vi3.j% 4i4%
Jan 1911-1925
i4*j% 1*4 %
N Y N H & kt 5s 10-12
100
mi
SC L <Ss S F 4
'12 op.F-A
95
97
5s Mch 1 1913
9/
jM-S
95
South Ry r 5s 1 u 13A
U/l«. 98*4
Tidewater 6s 1913 guat
100-x IOU4
vVabasn 4 lis 19J
/H-n
98
west Teiep & T .)3 12 F- A
9J
yyl2
Westlngh’e EI&M 6i 1913
lull
99
5% notes Oct 1917.A-0
dctnich
Msfc
...
_
Ferry Companies
Kansas City Sou 5s Apr 1
1950—See Stock ISxcu
Nat Hys of Mexico— See S
.
Con Gas of N J 5s '36.J-J
Consumers' L H & Pow—
5s 1938
J-D 110
Denver Gas & Elec...100
10i
Gen g 5S 1949 op M N
90
Elizabeth Gas Lt C0..IO0 300
Essex & Hudson Gas.100 132
Gas & El Bergen Co..100
76
e Gr
y8
Rap 1st 5s '15.F-A
Hudson Co Gas
.100 130
Indiana Lighting Co.. 100
32
4s 1958 op
03
F-A
50
Indianapolis Gas
13
1st g 5s 1952
A O
79
Jackson Gas 5s g '37.A-Q t 88
e Laclede Gas
1Q0
983.
10534
•243j
.
710
721;
103
l
106
1
225
103
New York
Brooklyn Un Gas—NeeStk
Buffalo City Gas stk..100
1st 5s 1947—.See Stock
Other Cutes
_
_.T-d
Other Cities
Am Gas & Elec com.. 50
Preferred
50
Amer Light & Tract..100
Preferred
100
Bay State Gas
50
Blugh ton IN Y) Gas Wks
1st e 5s 1938
A-0
.
Buffalo Street Ry—
1st consol 5s 1931
F-A 102
Deb Gs 1917
A-0 102L
Columbus (O) St Ry__100
Preferred
too
102
Colum Ry con 5s—See Phi a list
Crosst'wn 1st 5s ‘33 J-D luo
c Conn Ry & Ltg com. 100
74
• Preferred
i on
78
1st & ref 4 us—See Stk Exc
Grand Rapids Ry pref .100
81
e Louisv St 5s 1930...J-J
10434
Lynn & Bos
5a ‘24 J-l) 104.1;
eNew Ori Rys & Lgt.100
24
e Preferred
100
60
Gea M g 4 4$ ’35—See S tk Ex
Pub Serv Oorp of N J.100 no
Tr ctfs i% to 6%perpet
100
North Jersey St Ry.100
w
let 4S 194S--„„M-N
75
......100
Cent Ue Gas 5s 1927 .J-J
Cod Gas (N Yl—See Stk
• Mutual Gas
too
New Amsterdam Gas—
,1st consol 5s 1948..J-J
NY&ERUas 1st 5s '44 J J
Consol 5s 1945
J-J
N Y & Richmond Gas. 100
NY & WeStchesterL’ht’g—
Deb g 5s 1954 guar_3-j
Nor Un 1st 5s 1927..M-N
e Standard Gas com..100
c Preferred
100
1st 5s 1930
M-N
Brooklyn
Atlan Avenue HR—
Con 5s ft 1931
98
A-C
B B A W E 5s 1933__ A-0
9/
Brooklyn City Stock.. 10 152
Con 5s—Sje Stk Exch ange
Bkln Hgt* 1st 53 1 941 A-0
97
Bkln Queens Co
Sub—
e 1st g 5s '41
97
op '16.J-J
cist con 5s '41 op’16 M N
95G
Bklyn Rap Tran—See Stk Exc
Coney lsl & Bklyn..100
60
1st cons g 4s 1948..J-J
78
Con g 4s 1955
J-J
75
Brk C & N 5s 1939 J-l
95
Kings C El 4s—See Stock Exc
Nassau Elec pref
100
5s 1944
4-o
103
1st 4s 1951 —see Stock
EXC
N W bg & Flat 1st ex 4 >^s
87
Steluvvay 1st 6s 1922..J-J 102
Ask
Gas SecuriPes
$
s
l»5l
4s
Jo*,
8o
LXXXXI.
Bid
Industria and /VI scei
Conso1 Rubber Tire..100
3*2
Preferred
TIP
.10
Debenture 4s 1951
A- v / 38
1 Crucible Steel...... 10.
e Preferred
76
10t
Davt -Da'y Copper Co.L'
*114
e Diamond Match Co-ldu
8>
JuPontl El) tleNemPu 10 ■H48
e Prelerred
10
83*4
• Gold 4 hs 1936.. J-lElectric Boat
10
20
Prelerred
10
n60
72
to
Empire Steel
10,
118
Preferred
10
50
ID
.’Genera' Chemical
90
10,;'
e Prclerreti
103
10u
Goldfield Consol Mines.l».
*8
5)
Gold HUi Copper
112
*916
,,
U2
Greene-Cananea
2u
*0‘6
luggenheim Expior'11 10>
180
9
95
Hackensack
Co
Water
l OO
RCf g 4$ '52 op '12. J-J
85
dan Signal Co com..lOu
35
davana Tobacco Oo-.lUo
3
Prcicrred
S
07
luu
1st g 5s June 1 '22 J-D / 60
28
65
decker-Jones-Jewell
MU
1st 03 1922
j7
*1
103
ler'g-rtali-.vlar uew.lOo
35
douoken Land & Hup lOo
e
5s
40
1910
M
Houston Oi
75
loo
3*2
30
Prelerred
loo
32
Hudson l-tealty
96
lOu 110
9 Ingersoil-Rand com.loo
ys
e Prelerred
10
97
30 *•
9912 intercontin't't Rubber.1O0
98 , internafi Bank'g uo.ldo
11J
.5-1,1 luteiiiaf Mer Mar—See > tk Ex
uO’l' uiiernationai Nlcko,..loo 132
Prelerred
lOo
99H
83
1st g as 1932
97
A-g
91*2
iiiternaUonat
salt____lUJ
6
100'-2
1st g as 1951
A-t> 1 45
9Si£ luteraational SI ver..l00
60
Prelerred
98'c
luo
106
.
Rapid Tran St Ry_.10O
1Q5
f.!
‘
Bid
Pub Serv Corp N J (Cow
Cons Tract ot N J..100
1st 5s 1933
J-D
New’k PasRy 5s 30 J-J
10
“
where marked
Street Ra;iways
Ask
New York Ci-y
Bleeck St & Fat F stk.100
15
1st mtge 4s 1950._J-J
50
100 115
B*y & 7th Ave stk
2d mtge 5s 1914
ys
J-J
Cob 5s 1943—See Stock
Exc
10^
5s
B'way Sun 1st
gu 1924
Cent’l Cro^st’u stk
100
1st mtge 6s 1922..M-N / 80
except
60
...
Outside Securities
AU
100
10j
Teleg. 5o
Atlanfc.c_.__ 25
^
Ser B 4s Mch 15 '12 Al-S
Bond
sales.
Unlisted
shares.
10,>
65
40
Sliort-Ierm Notes
Am Gig sor A 4s 11__ >|
HOLI DAY.
HOLI DAY.
_
_
931,400,600
Philadelphia.
Bond
sales.
114
Northwestern
Bait&Uhlo
1910
69
Central
Pacific <5s
ePac ieiep & Tcleg'pi.n)o
Southern & Atlantic.. 25
8352,200
27,290,200
$444.6ul,;50i
THE
Saturday...
Mondav
•
1909.
$310,700
..34,027,950
410,323,000
Boston.
Sept. 9
e
Sep1. 9.
1910.
Telephone
Amer Tel eg & Cable. lOu
* So Amer__10j
Uomui'l Un Tel (N Y>_ 25
Kmp ds Bay State I’ei.lOo
Franklin
too
c Gold & Stock
lele'T.tOu
e
978,838
3,930,791
142,140,216
124,053,2191
$85,741,9 jO $356,477,350 511,144,211,700 §13,035,360,325
$3,900
87,600
.•>91,950
$826,500
Par value
Bank shares, par
Bonds„
Government bonds
State bonds
RR. and mlse. bonds.
DAILY
$918,000
799,000
987,500
1,583,500
247,576
157,2 J4
—
liiectric Companies
Bia
Ask
Chic Edison Co—See Ch.
oago
ii$t
Gr't West Pow 59 '46.J-I
851* 8/
*
Kings Co E LAP Co 100 122 “ 123
Narragan iProv) El Co_5u *84
*7
N Y &Q K1 L, <&Pow Co lOu
4j
50
Preferred
10,.
75
80
United Elec ot N J
loo
75
85
1st g 4s 1949
j-i>
75
75%
vVestern Power com .100
2 l
27
Preferred
47
...10i
49
telegraph and
$24,192,000
25,988,900
21,900,600
13, 60,400
298,299
....
Friday
Total
Bonds
Bonds.
DAY
HOLI DAY
.......
Wednesday
Thursday..
V. S.
State
due..
Bonds.
[VOL.
$ New
170
140
list
108
stock
Skpt.'J 01910.]
THE CHRONICLE
tuuestraeut and Hailroad
HAILkOAU
694
Intelligence.
hARNIinGS.
GrtOSS
The following table shows the gross earnings of
every STEAM railroad fron which regular weekly or monthly return8
can be obtained.
The first two columns of figures give the
gross earnings tor the latest week or month, and the last two
columns the earnings for the period from July 1 to and
including such latest week or month. Wo add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not
beg'n with July, but covers some other
period
The returns of the electric railways are brought together separately on a subsequent pays.
halesJ Gross Earninos.
ROADS
Week or
Month.
Ala N O & Tex Pat
NO & Nor East. 2d wk Aug
Ala &
Vicksburg. 2d wlc Aug
Vicks Shrev & P_ 2d wk Auer
Ala Tenn A North. July
Atch Top & S Fe
July
Atlanta Blrm A Atl 4 th wk Auc
Atlantic Coast Line July
(/ Baltimore A Ohio.(July
It <v o i ii Ter HHv une
tine
•
Bangor A Aroostook
Bellefonte Central..
Boston A Maine
Bridgeton 4c Saco R
July
July
July
July
BufT Roch A Plttsl) <4tn wk Aug
Buffalo & Shisq
An U
Canadian Northern 4th wk Aug
Canad'an Pacific.
4th wk Aug
Central of Georgia. 4th wk Aug
Centra1 of New a...
av
Central Vermont
June
Chattanooga South. 3d wk Aug
Chesapeake & Ohio. 4th wk Aug
C A O Ry of Ind. 4th wk Aug
Total both divs__ 4th wk Aug
Chicago & Alton
4th wk Aug
Chic Burl A Quincy July
p Chic Great West. 3d wk Aug
Chic Ind & Louhsv. 4th wk Aug
Chic Ind A Southern —See New
Chic MUw A St Paul July
Ch MU A Pug Sd_ July
Chic A North West. July
Chic St P M A Om__ July
Cln Ham A Dayton June
Ctev Cln Chic A St L i—See Now
Colorado -Midland.- 1 lay
Colorado A South.. Bth wk Aug
_.
Copper Raage
Cornwall
Cornwall A
May
July
Previous
$
$
61,000
30,000
24,000
6,689
8,021,539
79,245
2,148,065
7,547,733
135.215
214,159
6,683
3,751,230
5,224
345,417
104,213
354,700
55,000
26,000
22,000
4,795
7,742,272
63,093
1,863.040
7,092,141
2,965,000
313.900
2,40 !, '3(,
330,532
1,809
973,563
49,018
1,022,581
405,616
7,087,571
278,531
Year.
Current
Year.
ROADS.
Duly
5,341,536
1,142,072
6,404,222
1,268,955
9,446,523
2,153,80'
2,789,148
676,648
18,328
36,083
e
4,795
7,742,272
378,248
5,210,458
5,896*270
1,123,976
7,807,049
2,123,740
2,651,780
687,494
12,873
39,111
t4,541
.
...
__
July
Previous
Year.
S
5
420,378
__
Raleigh A Southp’t July
Company
Phlla A Reading- July
Coal A Iron Co._ July
Total both cos
July
Rich Fred A Potom June
Rio Grande June
June
Rio Grande South.. 4th wk
Rock Island Lines.. July
St Jos A Grand Isl. June
St Louis A San Fran July
Chlo A East III.. July
.
_
Tarablgbee Valley.
Union pacific Syst.
Vandalia
Virginia A Sou West
...
Wabash
3,368,765 3,092,398
1,499,664 1,597,095
3,368,765
1,499,664
4,868,420
4,868,429 4,689,494
230,073
193.952
89,886
84,049
Aug
20,306
18,854
5,310,938 5,416,601
133,923
3,343,663
909,994
225,044
Aug
June
July
409,128
381,404
163,900
98,888
11215272
4th wk
4th wk
4 th wk
4th wk
3d wk
June
4th wk
3,131
18,149
671,618
iJan
*
Mexican Railway
"
N Y Central A Hudson River.
Lake Shore A Michigan South
» Lake Erie A Western
Chicago Indiana A Southern
Michigan Central
Cleve Cln Chicago A St Louis
Peoria A Eastern
_
Northern..
Pittsburgh A Lake
3,254,905
1.047.041
106,56
Erie
Rutland
New York Chicago A St Louis
Toledo A Ohio Central
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Total all lines
Jan 1
Northern Central
Jan 1
d Penn—East of Plttsb A Erie. Jan
1
d West of Plttsb A Eric
Jan 1
Phlla Baltimore A Washington. Jan 1
Plttsb Cln Chicago A St Louis.. Jan 1
Rio Grande Junction
Dec 1
Texas A Pacific
Jan 1
West Jersey A Seashore
Jan 1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.570.389
909,994
225,044
4.478,701
1,974,244
1,871,181.
6,092,823
2,996,67(1
853,130
191,254
4.299,288
1,439,046
1,652,948
7,450,461
!
2,741,309
1,436,733
1,189,455
9,649,524
1,765,53£
9,001,233
1,605,422
1,576,426
738,935
1,323,127
314,10S
1,014,376
2,409,213
7.184
216,437
649,573
7,401
7,916,65!
820,33*
91,451
5,023,594
7,081,851
846,981
2 406
July 31
June 30
July 31
Aug 21
586,299
286,457
1,164,481
2,102,935
6,517
190,980
647,227
6,404
7,534,854
721,915
102,116
4,862,534
5,952,697
762,581
"
18",14'
15,864
643,930
671,611
Period.
Beliefonte Central
Delaware A Hudson
Cincinnati
1,637,354
3,343,663
2,331,548
Current
Various Fiscal Years.
e
5,310,93
3,092,398
1,597,095
4,689,494
2,026,325
881,526
98,737
5,416,601
....
Western Maryland.
W Jersey A Seash..
Wheeling A L ErieWhite River (Vt)-. June
Wrlghtsvllle A Tenn July
Yazoo A Miss Vail. July
a
11,731
10614569 11,215,272 10.814.5G9
Aug 1,592,173 1,503,811
Aug
324,678
297,173
Aug
212,56Q
Aug
31,544
107,321
Aug
39,576
38,085
61,510
65,737
Aug
510,536
422,442
July
7.134
6,517
4th wk Aug
46,581
40,974
4 th wk AUg
92,007
89,594
July
7,405
6,404
July
7,916,655 7,534,854
July
820,338
721,915
July
91,453
102,116
4 th wk Aug
900,817
821,648
June
589,876
496,446
July
846,981
762,881
August
697,000
615,000
Manlstlque
5,070,155
7,955,195
3,933,349
390,677
268,229
2,266,061
2,297,705
12,915,765
3,400
1,215,303
1,517,878
2.439.388
11,489
Inc. 62
1,372,51(1
1,713,87*
2,675,55?
853,130
July
191,254
July
4,478,701 4,299,288
June
180,967
144.952
4 th wk Aug
336,403
281,500
June
488,929
755,282
Seaboard Air Line..
Atlanta A Hiring 4th wk
Florida W Shore j
13,278,16
1,372,510 1,215,396
1,713,878 1,517,878
2.675.553 2,439,388
11 489
11,736
_____
Southern Indiana.
Southern Pacific Co
Southern Railway.
Mobile A Ohio...
Cln N O A Tex P_
Ala Great South.
Georgia So A Fla
Texas Central.....
Texas A Pacific
Tidewater A West.
Toledo Peor A West
Toledo St L A West
S
5,269,6341
8,328,479
4,029,892
425,37*
390,671
13278165 12915765
Inc.62 3,400
Pere Marquette
July
Phla Balt A Wash. July
Pitts Cln ChlcASt L July
Total of all lines.
St L Rky Mt A Pac.
St Louis Southwest.
San Ped L A A S L_
Previous
Year.
246,500
268,2119
240,500
2,511,882 2,286,661 2,511,382
2,376,031 2,297,705 2,370,081
268,617
239,794
263,617
239,794
101,752
88,331
101,753
88,331
1 528,576 1,449,479
1,528,576 1,449,479
293,333
280,507
293,333i
280,507
888,970
833,807
888,970
833,807
462,975
340,815
462,975,
340,815
21463441 20349549 21,463,441 20,349.549
294,804
244,509
294,804
244.509
230,927
216,468
230,921
216,465
2,914,363 2,581,300 2,914,36* 2,551,009
971,815
975,315
971,815
975,315
6,247,337 8,697,979 6,247,331
6,697,979
815,604
734,582
815,604
734,582
4.777.553 4,406,416 4,777,55* 4,406,416
__
/ Evansv A Ter H
Current
Year.
8,323,470 7.955,195
4,029,892 3,933,340
July
July
July
July
July
July
July
July
July
Norfolk Southern.. July
Norfolk A Western. July
Northern Central
July
Northern Pacific.
July
Pacific Coast Co
July
Pennsylvania Co— July
d Penn—E of P A E July
d West of P A E. July
Reading
July 1 to Latest Date.
Curren.
Year.
5,209,634 5,070,155
July
July
July
July
Michigan Central. July
Cleve C C & St L_
Peoria A Eastern
Cincinnati North.
Pitts A LakcErie
Rutland
N Y Chic A St L.
Tol A Ohio Cent.
Tot all lines above
N Y Susa A West..
1.863,040
7,092,141
.....
genv A Rio Grande 1th wk Aug
H Y N H & Hartf..
N Y C A Hud Rlv.
Lake Shove & M S
n Lake E A West
Chlo Ind A South
348,815
175,332
148,298
233,440
162.429
233,440
162,429
1,613,698 1,545,739 19,936,436 18,907,945
el Lack A West._ ruly
3,007,936 3,168,225 3,007,930 3,168,225
759.900
651,600 4,230,324) 4,012,616
env N W A Pac.. id wk Aug
35,870
210,577
194,580
Dot Tol A Iront Sys Id wk Aug
9.300
30,127
267,082
206,396
Ann Arbor
1th wk Aug
62,918
58,446
321,897
314,309
Detroit A Mackinac Ith wk Aug
35,461
32,463
214.747
207,454
Dul A Iron Range._ Tuno
1,292,880 1.048.686 10,289,064 6,847,572
Dul Sou Sh A Ati._ ith wk Aug
112,683
90,002
658,078
593,610
El Paso A Sou West uly
584.959
606.234
584.959
606,234
Erie
I uly
4,673,254 4,279,540 4,675,254 4,279,549
Fairchild A Nor E_ July
2,081
1,785
2.081
i,785
Fonda Johns A Glov Tuly
95,747
85,207
95,747
85,207
Georgia Railroad.. June
196,786
179,019 8,010.957 2,750.872
Georgia South A Fla r—See Sout hem Hall way.
Grand Trunk Syst.
Ith wk Aug 1,408,594 1,321,529 7.064.945 7,370,593
Grand Trk west «d iflk Aug
129,697
130,76a
700,298
862,416
Det Gr Hav A Mil 3d Wk Aug
37,287
41,973
221,815
268,567
Canada Atlantic. ISd wk Aug
38,937
45,307
232.795
279,368
Great Northern Syst August
3,649,354 5,557,912 11,641,816 10,872,850
Gulf A Ship Island. June
152,956 140,390 2,094,075 1,873,195
Hocking Valley.... June
695,994
469,018 7,569,329 3,878,414
Illinois Central
July
4,711,570 4,330,861 4,711,570 4,330,861
Internat A Gt Nor. 4 th wk Aug
258,000
230,000 1,333,000 1,191,000
a Interoeeaalc Mex. 4 th wk Aug
255.009
203,182 1,441,832 1,327,524
Iowa Central
73,548
72,228
fith wk Aug
519,851
523,599
Kanawha A Mich.. June
247,800
155,917 2,769,656 2,127,637
Kansas City Smitti. nine
860,684
760,881
9,723,879
8,901.396
K C Mex A Orient.. 1st wk Aug
35,125
34,140
197,684
174.029
Lehigh Valley..... July
2,870,218 2,754,399 2.876.218 2.754.399
Lexington A East.. June
54,392
36,366
484,620
412,626
Long Island
Inc.11 0,678
July
Inc.11 0,678
Louisiana & Arkan. June
124,159
99,688 1,427,615 1,277,957
Loulsv Hend A St L July
96,285
83.906
96,285
83,906
s Loulsv A Nashv
4 th wk Aug 1,512,935 1,302,707
8,763,285 7,927,422
Macon A Birm’hani July
12,077
11,780
12,077
11,780
Maine Central
July
759,712
793,835
759,712
793,835
Manlstlque
July
3,283
3,193
3,283
3,193
Maryland A Penna. June
32,522
29.805
409,229
378,022
a Mexican Railway. 3d wk
Aug
162,600
137,700 1,105,500 1.141.400
Michigan Central
—See New York Cen tral.
Mineral Range
4th wk Aug
23,893
22,349
122,078
147,680
Mlnneap A St Louis 4 th wk Aug
118,760
117,272
818,869
742,490
Minn St P A S S U\ 4 th wk Aug
622,870
553,066 3,901,952 3.496,979
Chicago Dlvls on /
Mississippi Central. July
75,713
57,565
75,713
57,565
uMo Kan A Texas. August
2,221,798 2,179,360 4,362,278 4,093,223
Mo Pac A iron M,]
Central Branch, j 4th wk Aug 1,849,000 1,515,000
8,969,000 8,583,000
Nashv Chatt A St LfcJuly
929,664
910,984
929,664
910,984
a Nat Rys of Mex.f. 4th wk
Aug 1,630,066 1,321,181 10,396,443 8,990,251
Nevada-Cal-Oregon. 8d wk Aug
6,572
9,819
57,450
74,580
Nevada Central.... June
6,016
7,385
60,096
75,388
N O Great Northern July
147,521
105,342
147,521
105,342
N O Mobile A Chic. Wk Aug 27
31,561
26,707
248,693
205,103
N Y Ont A Western July
941,455
861,086
941,455
861,086
Belaware A Hudson Tune
or
Month.
193,866
York Cen tral,
5,341,536 5,210,458
1,142,072
6,404,222 5,896,270
1,268,955 1,123,976
831.022
642.428
York Cen tral.
183,16;
194.091
487,735
461,369
61,148
62,344
18,328
12,873
36,883
39.111
Week
Year.
398,259
193,422
177,417
6,889
8,021,539
438,606
2,148,065
7,547,733
1,295,24*
Latest Gross Ea mines.
Previous
81.684
1,091 ,*17
219,043
214,156
219,043
4,188
6,683
4,189
3,722,367 3,751,230 3,722,367
5,895
5,224
5,895
271,373 1,698,292 1,637,841
116,57)
1,819,711' 1,908,461
253,600 2,318,100 1,650,600
2,384,000 17,795,214 14,292,030
268,300 1.968.218 1,740,638
2,000,89
>,724,463 2.4.415,038
295.240 3,800,957 3,497,274
1,380
14,523
10,883
881,679 5,330,466 5,052,602
278,581
881*678 5,609,047 3,052*602
343,558 2,559,494 2,354,748
G,825,808 7,087,571 6,825,808
272,485 1,735,166 1,584,019
170,464 1,129,306 1,017,122
*
Leban.[July
Cuba Railroad
July 1 to Truest Dale.
Current
Year.
Year.
$45,9571
15,864
643,930
Previous
Year.
9,635,252
$33,442
9,297,367
25,00>
5,368.300
24,458
4,862,300
July 31 55,299,277 >50,528,966
July 31 27,743,020 24.183,458
July 31 2,997,259 2,558,019
Jluy 31 2,172,26$ 1,649,912
July 31 16,499,286 14,857,031
July 31 16,557,348 14,805,728
July 31 1,860,375 1,576,140
July 31
691,718
612,962
July 31 9,812,195 7,232,121
31
July
1,769,676 1,650,562
July 31 6,338,493 5,505,281
July 31 2,628,661 1,970,351
July 31 144369572 127175537
July 31 7,162,209 6,686,309
July 31 93,702,114 83,058,714
Inc. 10, 003,200
July 31
July 31 10,796,289 9,983,089
July 31 19,467,244 16,029,488
June 30
555,817
497,889
Aug 31 9,839,889 8,811,103
July 31
3,440,933
3.161,033
AGGREGATES OF GROSS EARN IN GS—Weekly and
monthly.
Weekly Summaries.
Cur'nt Year Prev’s
3d week June (42 roads)
Ith week June (44 roads)....
1st week July (45 roads)....
2d week July (44 roads)
3d week July (43 roa Is)....
Ith week July (42 roads)....
1st week Aug (43 roads)
2d week Aug (43 roads)
3d week Aug (42 roads)....
1th week Aug (39 roads)
....
____
$
13,073,508
17,171,904
Year
$
11,348,208
14.859,700
12,359,231
11,133,094
12.546,427
10.966,342
12,802,686
17,393,199
12,874.219
13,330,857
13,462,769
19,342,788
11,432.364
16,676.649
11,968,289
12,132,599
12,283,880
16,765,742
Inc. or Dec.
%
$
+ 1.725.300 15.15
+ 2,312 204 15.29
+ 1,226.137 U.01
+ 1,580,085 14.41 !
+ 1,370.322 ll.»9 :
4.29
+ 716,550
4-905,030 7.94 1
+ 1,198.258 9.87 i
+ 1,178,889 9.60
+ 2.577,046 15.37
|
!
Monthly Summaries.
Current Yr. Previous Y~.
Inc. or Dec.
%
Mileage Curr, Yr. Preo. Yr.
$
$
5
November ..236,374
230,650 147,370,954 211,281,504 +30 089,45017.08
December ..237,189
231,639 122,008,184
+ 16,551,06308.05
January ...236,75$ 231,362 110,302,219 205,455,121
182,649,825 + 27,652,39415.14
February ..236,852 231,052 202,2-58,493 174,159,723 + 28,098,76716.15
Marcia
235,925
230,841 13 7,533,00 5 204,916,997 + 32,610,00815.92
April
237,569
232,463 225,225,596 198,593,911 + 28,629,68514.56
May
237,560
232,494 234,310.642 201,069,381 + 33,241,26116.53
June
204,596 200,931 ‘208,384.018 184.793.806 + 23,505,11212.21
July
88,593
85,507 63 504,951
+ 5,247.226 9.02
58,257,725
August
81,879
78,874 62,005,137 56,405,0331 + 5,600,104 9.90
....
Mexican currency,
d Cover: fines directly operated,
e Includes the New York A Ottawa, the St. Lawrence A Adirondack and tfio Ottawa A
Ry., the latter of which, being a Canadian road, docs not make returns to the Inter-State
Commerce Commission,
r Includes Evansville A
Indiana RR.
a Includes the Cleveland Lorain A
Wheeling
Ry.
in'both years,
n Includes the Northern Ohio RR.
p Includes earning® ot MasonClty
A Ft Dodge and Wise Minn. A PacIQc.
s Includes Louisville A Atlantic from
July 1 »9jJaad the Frankfort A Cincinnati from Nov- 1 1909.
fin*
Judes the Mexican International from July 1910. u Includes the Texas Central La 1010,
*
N. Y.
THE CHRONICLE
650
Latest Gross Earnings by Weeks.—In the
follows we sum up separately the earnings for the
of August,
The table covers
increase in the aggregate over
Fourth
week
Alabama Great Southern
Atlanta Birmingham & Atlantic
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia.I
Chesapeake & Ohio
1
Ches & Ohio of Indiana
2,384,000
268,300
881,679
$
24,223
16,152
74,044
101,100
581,000
45,600
140,902
405,616
193,866
287,335
487,735
759,900
35,461
343,558
170,464
212,560
461,369
651,600
32,463
62,058
23,402
74,775
26,366
108,300
2,998
62,981
112,683
58,446
90,002
4,535
22,681
1,408,594
1,321,529
87,065
_
Ann Arbor
Duluth South Shore & Atl
Grand Trunk of Canada
1
Grand Trunk Western
1
Detroit Grand Hav & Mllw
Canada Atlantic
j
International & Great Northern
Interoceanlc of Mexico
Iowa Central
Louisville & Nashville
Mineral Range
Minneapolis & St Louis
1
J
1
Mobile
Ohio
.*
National Rvs of Mexico
Rio Grande Southern._
St Louis Southwestern
Seaboard Air Line
Southern Railway
Texas & Pacific
Toledo Peoria & Western
Toledo St Louis & Western
Wabash
$
107,321
63,093
271,373
253,600
Decrease.
$
„
'—
Canton Elect Co.
Scranton Elect Co
Wheeling Companies
t
258,000
230,000
255,000
203,182
73,548
1,512,955
23,893
118,760
622,870
72,228
1,302,707
22,349
117,272
553,066
1,649,000
1,515,000
324.678
297,173
1,630,066
20,306
336,403
409,128
1,592,173
510,536
46,581
92,007
900,317
1,321,181
18,854
281,500
381,404
1,503,811
422,442
40,974
89,594
821,648
28,000
51,827
1,320
210,248
1,544
1,488
69,804
134,000
27,505
308,885
1,452
54,903
27,724
88,362
88,094
5,607
2,413
78,669
table fol¬
Gross Earnings
Previous
Current
Year.
Year.
Net Earnings
Previous
Year.
Year.
Current
July
6,889
Bridgeton & Saco Rlv__July
Central New England _b—
Apr 1 to June 30
5,224
803,304
1,487,208
1 to June 30
July 1 to June 30
3,022,719
Chesapeake & Ohio.b-.July dZ,688,695
Chicago & Alton.a
July 1,170 992
Chic Burl & Qulncy.b-.July 7,087,571
3,399
2,409
2,149
2,839
678,934
1,270,532
2,530,212
2,410,007
1,089,688
6,825,808
324,623
1,289,487
232,563
462,706
931,029
d975,538
975,188
S327.582
S359.594
1,649,157
2,037,416
233,807
177,921
1,645,317
865,024
5,210,458
Chicago Great West.b-.July
951,457
Chic Mllw & St P.b
July 5,341,536
Ch Mllw & Pug Sd.b.July 1,142,072
11,907,776
Aug 1 to July 31
Chic & Nor West.b
July 6,404,222
Chic St P Minn & Om.b July 1,268,955
Del Lack & West.b
July 3,007,936
Grand Trunk of Canada—
Grand Trunk Ry
July
Grand Trunk West..July
Det Gr Hav & Mllw. .July
Canada Atlantic..
July
Great
4,795
5,895
628,840
1,567,987
569,317
6,060,161
5,896,270
1,964,691
1,924,842
1,123,976
3,168,225
367,624
1,251,428
1,577,233
2,720,373
470,590
150,375
149,401
def9,733
710,509
120,202
27,009
defl0,220
5,314,938
2,093,977
2,247,758
124,045
30,093
56,518
111,821
14,571
31,327
61,363
12,270
26,897
55,893
..July 4,711,570
4,330,861
939,083
387,570
2,538,366
394,186
121,176
126,529
July 5,792,462
Northern.b
711,482
58,393
337,759
973
Greenw & Johnsonv.b—
Apr 1 to June 30
Jan
31,050
62,320
1 to June 30
July 1 to June 30
Illinois
Central.a
July
75,713
Mississippi Central.b
Nashv Chatt & St L.b.-July
929,664
Northern Pacific.b
July 6,247,337
Pacific Coast Co
July
815,604
Rock Island Llnes.b.-.July 5,310,938
Texas & Pacific.b
July 1,133,016
Jan 1 to July 31
8,563,692
Tol St L & West.a.....July
288,342
Tombigbee Valley.b
July
7,405
57,565
35,504
18,923
910,984
220,301
6,697,979
2,482,671
734,582
196,700
221,414
2,975,088
196,617
5,416,601
1,368,271
1,756,885
1,018,727
7,636,895
79,620
1,522,194
138,082
1,278,902
304,202
6,404
£>93,150
3,074
£>99,322
2,299
276,207
460,449
121,529
119,629
86,473
120,569
def59,997
&
340,759
1 to June 30
494,690
Jan
Yazoo & Miss Vall.a
July
643,930
671,618
54,005
INDUSTRIAL COMPANIES.
Gross Earnings-—
Current
Previous
Year.
Year.
Companies
$
32,063
16,063
45,309
10,371
$
Atlantic
City El Co
Canton Elect Co
July
July
37,716
19,643
Scranton Elect Co
July
48,046
Wheeling Companies
July
12,626
Net Earnings
Current
Previous
Year.
Year.
$
vYrk
$
21,586
18,883
9,770
7,669
26,381
23,986
6,395
4,623
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
d Includes Chesapeake & Ohio Ry. Co. of Indiana In 1910.
p Miscellaneous charges to income amounted to $9,022 In
Port(Ore)R.v,L&P Co July
Puget Sound Elec Co. July
Rio de Janeiro Tram
July
Light & Power
St Joseph (Mo) Ry Lt
Heat & Power Co.. ruly
Sao Paulo Tr Lt &P July
Savannah Electric Co July
Roads.
Bridgeton & Saco Riv..July-
$
$
598
Central New England—
Apr 1 to June 30
Jan ltoJune30._,
July 1 to June 30
561,006
683,825
937,791
Chicago Great Western .July
194,195
Jan. 1 to latest date.
635
-
170,492
91 ,658
170,250
46,362
43,589
-
195,459
799,552
5,806,07ij
615,174
1,330,197
358,589
327,264
723,618
731,227
643,828
1,276.482
73,158
135,345
106,613
431,737
174,456
710,929
4,924,077
544.149
1,127,467
329,927
255,881
648.655
682,473
578,558
1,358,518
655,665
5,353,909
4,291,544
93,928
85,393
194,402
55,812
584,942
1,631,040
359,715
543,997
1,382,572
348,364
592,587
15,40 4
47,172
226,565
145,089
102,187
363,890
1,700,500
4,712,922
340,678
1,528,054
4,320,440
£446,740
£375,222
£224,355
1,663,338
4,373,496
233,039
£441,090
£342,066
£215,062
1,573,328
4,190,658
223,514
59.140
459,059
16,909
51,507
239,621
151,261
1,456,125.
595,862
2,372,759
499,314
2,202,474
972,590
3,508,400
1,200,954
695,868
1,354,267
759,016
149,144
92.508
El Ry
£10,730
£9,457
£6,754
232,318
618,635
32,660
_
United RRs of San Fr July
Whatcom Co Ry & Lt July
These figures are for
£10,890
£9,069
£6,802
225,52 <
621,753
34,485
consolidated company.
Electric Railway Net Earnings.—The following table gives
the returns of ELECTRIC railway gross and net earnings
A full detailed statement, including all
reported this week.
monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Aug. 27 1910.
The
next will appear in the issue of Sept. 24 1910.
roads from which
Gross Earnings
Current
Previous
Year.
Year.
Roads.
Net Earnings
Current
Year.
Co.b-July
Binghamton StreetRy.. J uly
$
54,007
$
50,954
$
30,963
37,330
34,910
18,471
Central Penn Trac Co—July
Jan 1 to July 31.
82,313
476,120
73,630
431,737
30,112
135,727
Kans Cy Ry & Lt Co.b.July
June 1 to July 31
623,492
1,240,756
564,048
1,126,843
242,523
486,131
487,541
New Orleans Ry & Lt._July
3,648,092
Jan 1 to July 31.
466,416
3,508,400
207,392
1,693,833
88,179
148,640
344,449
60,954
99,466
203,411
25,216
30,062
108,560
232,318
Ry,G & E(I11) .b.July
1,663,338
to July 31
225,527
1,573,328
106,543
719,819
Bangor Ry & Elec
Syrac Lake Shore & No.b —
Apr 1 to June 30
Jan 1 to June 30
Julv 1 to June 30.
Jan 1
Net
b Net
a
Previous
Year.
$
28,369
17,568
23,037
108,788
234,556
474,226
179,526
1,591,317
18,916
23,355
66,791
113,460
776,438
earnings here given are after deducting taxes,
earnings here given are before deducting taxes.
Interest
Charges and Surplus.
—Int., Rentals, &c—
495,678Tdef227,212Tdef248,629
627,413 Tdef26.843xdefl32.649
867,811
X414.881
X120.066
288,122
T47.968Tdefl06.729
157.451
120.259
476,120
980,339
243,615
Wk Sept 3
Metropolitad Dlst. Wk Sept 3
United Tramways. Wk Sept 3
Union Rv,G & ECodll > luly
Union
$
2,204
1,496,110
66,098
140,196
2,697,593
1,036,548
53,861
21.577
of London—
Three tube lines..
—Bal. of Net Earns—
Current
Previous
Year.
Year.
$
1.551
8,351
34,910
183,187
18,022
26,616
17,421
73,630
38,026
103,340
152,023
3,136,336
1,110,740
185,388
160,492
Tampa Electric Co.. July
Toledo Rys & Light. July
Twin City Rap Tran. 3d wk Aug
309,312
61,791
50,954
$
2,043,571
845,567
285,573
53,819
24,235
490,724
182,986
262,020
125,943
-
2,226,588
921,158
197,684
180,768
2,101.518
273,430
3,879,413
132,032
-
$
$
348,491
167,614
Previous
Year.
221,557
181,031
2,365,774
330,376
4,245,500
658,760
2,646,845
583,300
2,464,205
1,032,501
3,648,092
1,349,355
803,563
1,460,33s
765,607
227,916
397.372
126,206
398,84 7
144,548
487,541
_
Current
Year.
34,689
30,653
423,616
39,300
564,048
121,185
356,906
113,336
345,573
140,887
466,416
227,011
109,212
162,425
151,598
37,533
19,152
23,461
424,816
184,531
46,905
..
COMPANIES.
37,866
623,492
Julv
Seattle Electric Co
Sou Wisconsin Ry Co July
Charges and Surplus.
Previous
Year.
4,799
15,092
3,939
115,981
109,747
98,749
42,430
30,036
472,255
Paducah Tr & Lt Co Julv
Pensacola Electric Co July
July 1910,
against $14,481 last year.
s Alter allowing for miscellaneous charges to Income for the month of
July 1910, total net earnings were $294,866, against $323,925 last year.
Current
Year.
4
June
_.
c
T30.241
t10,241
125,266
122,097
113,005
44,807
.
a
—Int., Rentals, &c.—
Aug
Sept
..
Interest
117,270
192,163
103,532
210,844
49,351
57,488
June
Ulster & Delaware.b—
Apr 1 to June 30
82,373
41,880
July
July
Houghton Co Trac Co July
Illinois Traction Co.. May
Jacksonville Elect Co July
Kaos City Ry & Lt Co ruly
Lake Shore Elec Ry. July
Mllw El Ry & Lt Co. July
Mllw Lt Ht &Tr Co__ July
Montreal Street Ry.. July
Nashville Ry & Light ruly
New Orleans Ry& Lt July
North Oh o Trac & Lt July
North Texas Elec Co. July
Northwest Elev Co.. August
Norf & Portsm Tr Co May
Oklahoma City Ry.. May
Underground
T60.631
t7,223
6,214
15,624
5,315
Preirious
Year.
$
382,493
182,387
54,007
9,708
37,330
216,505
16,658
28,876
16,811
_
Land Co.
t3,056
t6,638
t14,101
TRACTION
Current
Year.
Duluth-Superior TrCo luly
$
Jan
AND
East St Louis & Sub July
El Paso Electric
July
Falrm & Clarks Tr Co July
Ft Wayne & Wabash
Valley Traction Co
Galv-Hous Elect Co.
Grand Rapids Ry Co.
Havana Electric Ry.
Honolulu Rapid Tran
t1,187
t6,042
xl0,932
income received.
July
July
July
July
July
July
July
July
July
ruly
July
July
Carolina Pow & LtCo
Central Penn True
Cleve Palnesv & East
Dallas Electric Corp.
Detroit United Ry.. 3d wk
.
$
2,870
8,893
683
3,556
10,756
1,079
Week or
Month.
Cape Breton Elec Co.
and net earnings of STEAM railroads
companies reported this week:
Ala. Tenn & Nor.b
.July
July
July
RAILWAY
American Rys Co
cAur Elgin & Chic Ry
Bangor Ry & Elec Co
Baton Rouge Elec Co
Binghamton St Ry__
Blrm’ham Ry Lt & P
Brockton & PlyStRy
$
—Int., Rentals, &c.— —Bal. of Net Earns.—
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
July
4,563
5,370
17,023
13,512
Name of
Road.
—
Previous
Year.
63,298
58,037
116,072
110,785
INDUSTRIAL COMPANIES.
After allowing for other
ELECTRIC
—
Roads.
1 to June 30
Current
Year.
14,972
26,017
46,637
13,964
25,865
51,499
Atlantic City El Co
gross
and of industrial
July 1 to June 30
Ulster & Delaware—
Apr 1 to June 30
LXXXXI
—Bal. of Net Earns.—
Latest Gross Earnings.
Net Earnings Monthly to Latest Dates.—The
lowing shows the
Greenw & Johnsonv—
Apr 1 to June 30
Jan 1 to June 30
Companies.
19,342,788 16,765,742 2,577,046
0,000,000
Total (39 roads)
Net increase (15.37%)
Roads.
Jan
J
Cine New Orl & Texas Pacific.
Colorado & Southern
Denver & Rio Grande
Detroit & Mackinac
Detroit Toledo <Sr Ironton—
Missouri Pacific
Increase.
$
131,544
79,245
345,417
354,700
2,965,000
313,900
1,022,581
Chicago & Alton
Chicago Ind & Louisville
Chicago Division.:
week last year.
1909.
1910.
of August.
Minn St Paul & S S M
same
—Int., Rentals, &c.—
Current
Previous
Year.
Year.
$
$
table which
fourth week
39 roads and shows 15.37%
the
[VOL.
Roads.
Current
Year.
$
& Elec Co.. .July
Binghamton Street Ry.-July
Kans City Ry & Lt Co. .July
Bangor Ry
13,651
9,130
186,715
372,147
June 1 to July 31
176,272
New Orl Ry & Lt Co.. .July
Jan 1 to July 31.-.-_- 1,236,300
Previous
Year
—Bal. of Net Earns.—
Current
Previous
Year
Year
%
15,146
$
13,223
8,956
$
17,312
9,341
8,612
172,039
343.792
55,808
113,984
62,517
130.434
172,187
1,208,023
31,120
457,533
7,334
383.294
Sept. 10 1910. |
THE CHRONICLE
—Int., Rentals, &c.—
Current
Year.
Roads.
Previous
Year.
$
Bal. of Net Earns.
Current
Year.
$
Syrac Lake Shore & No—
Apr 1 to June 30
28,052
3,029 gdef.2,716
55,573
23,942 zdef.25,370
July 1 to June 30
105,587
54,883
£3,120
Union Ry, G & El (Ill)--July
67,789
69,347
38,754
Jan 1 to July 31
460,264
452,771
259,555
x After allowing for other Income received.
Jan
EARNINGS AND EXPENSES.
Previous
Year.
$
$
1 to June 30
651
Operating Revenues-
£10,751
sdef.98
£16,997
44,113
323,667
_
Chicago Milwaukee & St. Paul Ry.
(Report for Fiscal Year ending June 30 1910.)
President A. J. Earling, Aug. 1910, wrote in substance:
General Results.—The total operating revenues were
$64,846,894—an
Increase of $4,949,430 as compared with the previous year.
The revenue
from freight traffic was $44,909,136—69.26% of total
revenue—an in¬
crease of $2,567,486, or 6.06%.
The number of tons of freight carried
Increased 3,199,211 tons, or 11.63%.
The following classes of commodities show an increase:
Products of
mines, 1,834,424 tons; products of forests, 140,417 tons;
manufactures,
1,157,112 tons, and commodities not specified, 298,452 tons.
There was
a decrease In products of agriculture of
113,852 tons and in products of
animals of 117,342 tons.
Agricultural products (5,754,165 tons) com¬
prised 18.74% of the total tonnage, as compared with 21.34% last year.
The revenue from passenger traffic was
$14,786,744, an increase of
$2,011,892, or 15.75%.
The number of passengers carried one mile in¬
creased 16.74%, the revenue per passenger
per mile wras 1.879 cents—a
P.
c.
operating expenses to earnings.
.016 cent, or .84%; the average miles each
passengei was
44.68 miles—an increase of .51 mile, or
1.15%.
operating expenses for the year were $44,790,997, an increase of
$6,059,758.
There was an increase in maintenance of
way and structures
of $1,184,223; maintenance of equipment of
$453,794; transportation ex¬
penses of $4,582,812 and general expenses of $50,224, and a decrease
in
traffic expenses of $211,295.
During the year 37 steel bridges, aggregating 4,411 feet in length, were
built—replacing 3,081 feet of wooden bridges, 964 feet of iron bridges and
366 feet of embankment; and 433 wooden culverts were
replaced with iron.
About 2.9 miles of pile bridges were filled with
earth, 106 bridges having
been completely filled and 53 reduced in
length by filling.
Reports of the Chicago Milwaukee & Puget Sound Ry. Co., the securities
of which—excepting one share of stock held
by each trustee— arc owned
by the Chicago Milwaukee & St. Paul Ry. Co., for the 11 months
ending
June 30 1910, and of the Tacoma Eastern RR.
Co., the capital stock of
which—excepting one share held by each trustee—is owned by the com¬
pany, for the year are submitted separately.—[See other
pages, Ed.].
Second Track, &c.—Work is In progress on additional
second main track
on the I.a Crosse Division, about 44
miles; on the River Division, about 46
miles, and on the Prairie du Chien Division, about 7 miles.'
There has been expended during the
year for reduction of
and
Improvement of alignment at sundry points the sum of $117,751,grades
which has
been charged to capital account.
Rolling Stock.—On June 30 1909 there was at the credit of
equipment
replacement account the sum of $1,123,137.
During the year 411 cars of
various classes were destroyed, sold or taken down.
The original cost of
these cars and a certain percentage of the total
cost of equipment, aggre¬
gating $1,002,475, has been credited to the replacement accounts.
There
has also been credited to the replacement accounts
$888,709
charged for new equipment, and there has been charged to thesepreviously
accounts
the sum of $802,518 previously credited for
equipment destroyed, sold
or taken down.
The equipment replacement accounts
have been discon¬
tinued and the account of reserve for accrued
depreciation has been opened.
The balance of this account June 30 1910 is
$2,211,803, which represents
the estimated depreciation of
rolling stock subsequent to June 30 1907.
The treasury bonds, which on June 30
1909 stood at $27,828,000, were
Increased during this fiscal year by
$20,956,000 general
bonds for
underlying bonds paid and canceled and $5,941,000 formortgage
additions and im¬
provements to property to Dec. 31 1909;
general mortgage 4%
bonds were sold during the year; bonds in $25,000,000
the treasury or due from trustees
June 30 1910 amount to
$29,725,000.
These treasury bonds represent
actual expenditures for extensions,
improvements, additional property and
underlying bonds paid and canceled.
1909-10.
7,512
Miles operated, average
Eq u ip me nt—a—
Locomotives
1,199
1,103
46,173
Passenger equipment
Freight and miscellaneous
Operations—
cars.
1908-09.
59,897,463
56,932,621
8,472,825
7,724,569
7,288,603
7,270,774
1,334,006
6,451,588
7,079,429
1,281,683
21,346,549
1,004,120
7,512
44,790,997
(69.07)
38,731,238
20,055,897
21,166,225
1909-10.
$
Receipts—
Dlvs.
Milw. Ld., &c., stk. owned.
on
1,151
1,109
46,648
Freight (tons) carried
Freight (tons) carried
one
mile
Average revenue train-load (tons).
Earnings per passenger train mile.
Earnings per freight train mile
Earnings per mile of road
1.879 cts.
1.895 cts.
1.918 cts.
.
30,698,915
.
&5,326;908
27,499,704
65,051,527
26,189,853
64,980,486
0.838 cts.
274
0.812 cts.
274
$0.9235
$2.2929
$7,974
$0.8823
$2.2208
$7,592
0.843 cts.
276
$1.0217
$2.3233
$8,633
...
***w*uv*vw
feu-'
Revenue freight only.
snt.
b Three
ciphers
(000)
omitted.
37,163,369
(65.28)
19,769,252
(64.66)
Other income (net)
Deduct-
Interest
x Dlvs.
on
on
European loan.
preferred
1908-09.
$
20,055,897
<7207,620
21,166,225
20,263,517
2,529,373
21,345,908
17.734,144
18.917,232
804,880
L
1907-08.
$
19,769,252
179,683
373,955
20,143,207
2,428,676
2,304,962
17.838,245
6,059,496
i>895,067
50,686
655,797
25,493,587
18,967,918
18,494,042
6,651,215
5,855,717
5,916,760
8,115,233
8,116,220
5,806,780
6,966,743
3,495,373
5,817,381
23,043,257
18,629,240
338,678
15,229,514
3,264,528
160,589
(7%).
X2,450,330
a Outside operations, net—sleeping,
parlor and dining cars, elevators,
hotels and restaurants in 1909-10—Include:
gross, $1,658,887; expenses,
$1,451,267; net, as above, $207,620.
b Other Income, net ($895,067)
in
1909-10
is
made up as follows:
Interest on other
securities,
loans and accounts and other miscellaneous
income, $2,589,175; less hire
of equipment, $1,416*490; U. S. Government excise
tax, $126,489; pro¬
portion of discount on general mtge. 4% bonds, $3,165, and rents (amount
paid in excess of amount received) $147,964.
See note above at the head
of Income account,
x Out of the surplus
($18,681,783) for the late fiscal
year, the company paid its March and Sept. 1910 dividends of
3H% on
common and preferred stocks, these
making the 7% above shown paid on
both stocks from the earnings of the year.
GENERAL BALANCE SHEET JUNE 30.
1910.
$
Assets—
Road and equipment
Due from agents and conductors
Due from transportation companies
Bills receivable.
Preferred stock in treasury unsold-__
Common stock in treasury unsold
Mil. & Northern bonds in
treasury
Renewal and improvement fund
2,601,950
1,901,997
1,688,246
2,543,377
142,885
6,127,702
2,847,838
424,786
6,325,634
61,060,369
2.554,355
7,512,000
20,232,355
1,089,000
26,739,000
343,000
402,200
1,089,000
557,964
430,164
5,539,540
1,830,801
1,869,470
1,740,325
343,000
402,200
U. S. Trust Co., trustee
Stock,
Stock,
1908.
$
2,598,055
143,089
7,359,457
19,404,315
28,636,000
Sinking, funds
Total assets
Liabilities-
1909.
$
280,828,179 274,468,163 264,860,733
146,952,866 105,470,166
20,020,423
Due from U. S. Government.
’
270,800
1,089,000
1,532,055
407,577
63,000
8,393,551
10,000
498, 286,416 443,499,804 379,060,367
common.....
116, 348,200 116,348,200
83,377,900
.116, 274,900 116,274.900
49,976,400
177, 534,500 143,593,500 125,679,500
Subscriptions to capital stock
65,179,006
Installments of European loan of 1910*14, 655,631
Sinking funds
557,964
430,164
"407", 57 7
Equipment replacement fund
1.123,137
247,158
Insurance department
1, 830,801
1,740,325
Bills payable
I
4, 000,000
Renewals and Improvement fund
4, 544,681
5,807,199
1,532,055
Reserve for accrued depreciation
2, 211,803
Pay-rolls, vouchers, due transporta¬
tion companies and miscellaneous.
6, 587,557
7,573,476
7,323,256
Interest accrued, not due
_*
3, 193,838
2,648,009
2,695,542
Income account
50, 546,541
47,960,895
42,641,973
Total liabilities
498,286,416 443,499,804 379,060,367
preferred
Funded debt
.
.
*
The amount of the European loan is
250,000,000 francs, payable in
Balance will be paid during the current
year.—V. 91, p. 38.
installments.
Chicago Milwaukee & Puget Sound Ry.
(Report for Eleven Months ending June 30 1910.)
This subsidiary of the
Chicago Milwaukee & St. Paul Ry.
Co. (see above) reports
through its President, H. R. Williams,
substantially as follows:
Miles of
miles,
as
Track.—The company
follows:
was
operating June 30
1910
1,830.55
Owned
7,499
1,149
1,111
46,474
21,764,471
1,073,385
Note.—Owing to changes In classification, the comparsons with 1907-08
inaccurate, especially as to “other Income.”
In figuring the amounts of “other income” In 1908-09 and
1907-08,
we have
deducted the items of “hire of equipment” and
“rentals”.
In order to make proper comparison with the results shown in the
report
for the recent year.
While, therefore, some Items and the footings differ
from those given in the pamphlet reports of previous years, the final
results
remain unchanged.
1907-08.
17,613,549
15,261,551
14,234,127
.786,916,546 674,072,186 619,468,248
c
64,846,894
are
Connection tracks
Yard tracks, sidings and
spur tracks
OPERATIONS.
c
11,883,395
40,426,880
4,622,346
was
Capital Expenditures.—These aggregated $6,379,879
(credits, $19,863);
Additional equipment
$1,128,401 Sundry lines
$258,031
Real estate, Minneapolis.
65,234 Reducing grade & imp. line
117,751
Second main track..,
1,421,019 Other add’ns & betterm’ts 3,389,443
Renewal and Improvement Account.- The amount
credited to renewal and
improvement account to June 30 1910 was $11,426,758; interest received
on
balances, $1,101,467; total, $12,528,225.
The unexpended balance
on June 30 1910 was
$4,544,681, the expenditures during the year having
aggregated $7,983,544, as follows;
Elevation of tracks
$2,829,739 | Replacement of
Imp. at Western Ave.,Chic. 244,526 ] Improvements atbridges..$1,725,765
shops..
393,853
Escanaba docks and term. 1,277,612 | I Additional
weight of rails.
612,713
Change of gauge
448,837 Additional ties
89,461
Flood damage (Kan. City)
125,093 | Miscellaneous
235,944
Capital Stock.—No capital stock has been issued
during
the year.
The
total amount of capital stock at the close of
the year is $232,623,100.
Of
this amount $99,492,800 was issued to
provide
funds for the construction
and equipment of the lines of the
Chicago Milwaukee & Puget Sound Ry.
Co. and $277,200 is held in the
treasury.
Bonds.—The funded debt has been increased
during this fiscal year by
$26,897,000 of general mortgage bonds and
$28,000,000 25-year 4% gold
bonds (V. 88, p. 1559, 1279,
1596, 1667; V. 90, p. 108. 771, 848, 1675),
and it has been decreased
$20,956,000 by underlying bonds retired and
canceled.
[Since June 30 1910 the
France of $50,000,000 (250,000,000 company has completed the sale in
francs) of 4% 15-year debentures.
None of the debentures is convertible
into stock, statements to the con¬
trary notwithstanding.
See V. 90, p. 1424, 1489, 1554; V. 91, p.
38.—Ed.]
The amount of bonds at the close of
the year is $177,534,500.
Deducting
the $28,000,000 of bonds teferred to
above,
which were issued to provide
funds to be advanced to the
Chicago Milwaukee & Puget Sound Ry. Co.
for the construction and
equipment of its lines, and bonds in the treasury
or due from
trustees amounting to
$29,725,000, the remainder is $119,809,500.
c
12,774,852
42,341,651
4,780,960
INCOME ACCOUNT.
decrease of
carried
The
14,786,744
44,909,137
5,151,013
1907-08.
$
1,122,710
26,347,283
1,123,610
ANNUAL REPORTS.
Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in
which
it is published.
The latest index will be found in the issue
of Aug. 27.
The next will appear in that of Sept. 24.
1908-09.
$
Expenses—
Maintenance of way and structures.
Traffic
Annual
1909-10.
$
The lines of the road
North Dakota, 102.50
Owned TrackSolely. Jointly. age.
1,401.20
26.22
35.24
3.28
351.27
5.11
8.23
Total.
1,462.66
3.28
364.61
1,755.75
31.33
43.47
1,830.55
follows:
South Dakota, 91.86 miles;
miles; Montana, 794.41 miles; Idaho, 97.72 miles;
are
located
as
Washington, 340.93 miles.
During the 11 months nine branch lines
(aggregating 595.3 miles Ed,)
have been under construction:
(1) Moreau Line, Moreau June., S.D., 3.8
miles west of Mobridge,
S. D., southwesterly and westerly to Isabel,
S. D., 58.4 miles.
Regular service established
(2) Cheyenne
31.
Line, Cheyenne Junction, S. D., a point on the May
Moreau line 25.7 miles
from Mobridge,
and
southerly
westerly to Faith, S. D., 106.1 miles.
This
line will be completed about Nov. 1.
(3) Cannon Ball line, McLaughlin,
S. D.,
northwesterly to New England, N. D., 133.7 miles. This line will
be completed about Oct. 1.
(4) St. Maries line, St. Maries, Idaho, south¬
easterly through Bovill, Idaho, to Elk River, Idaho, 71.7 miles.
This line
was finished about June
30.
(5) Coeurd’Alene line, being built by a*subsidiary corporation, the Idaho & Western Ry. Co., extending from Dishmans, in the suburbs of Snokane, Wash., easterly to Coeur
d’Alene, Idaho,
25.6 miles
This line will be completed about Dec. 15.
(6) Warden line.
Warden, Wash., northeasterly to Hamlin, Wash., 47.5 miles. Will be
THE CHRONICLE
652
completed about Sept. 80.
(7) Everett line, Moncton, Wash., northwesterly to Everett, Wash., 57.8 miles.
Will be completed about April l
1911.
(8) Enumclaw line, Iolanthe, Wash., southerly to Enumclaw,
Wash., 13.1 miles.
Will be completed about Sept. 30. (9) Grays Harbor
line, McKenna, Wash., on the Tacoma Eastern RR., westerly to Grays
Harbor, Wash., 81.4 miles.
,
T_
.
._
The last-named line was built from McKenna to Portola, Wash., 33.3
miles, by this company, and from Portola to Gray’s Harbor, 48.1 miles,
t will be built jointly with the Oregon & Washington RR. Co., construction
work being in charge of that company.
The line will be completed to
Cosmopolis, Wash., 72.3 miles from McKenna, Wash., about Aug. 15,
but the construction of the bridges across the Chehalls and Hoquiamrivers
wil delay the completion of the line between Cosmopolis and Grays Haruor
for several months.
,
Ii January 1910 the property of the Montana RR. Co., Lombard to
Levistown, in Montana, was deeded to this company, and the operations
of said line since Jan. l 1910 are included in this report.
,
„
.
JUNE 30 1910.
TRANSPORTATION STATISTICS FOR 11 MOS. END.
Miles run: Freight trains, 2,850,159; passenger trains, 1.156,952;
total revenue trains
Revenue freight: total tons, 1,537,883; total one mile
915,972,804
Tons of company freight carried one mile
186,777,810
Tons of freight per freight train mile: Revenue , 321.38; com¬
pany freight, 65.53; total
386.91
Average revenue per ton of revenue freight per mile
1 °4®
Average distance haul of each ton of revenue freight (miles) —
5
Average revenue from freight per freight train mile
$3 .3621
Average number of freight cars per train; Loaded, 19.526;
c^tsl-
col
24.942
empty, 5.416; total
Passengers carried, 568,812; passengers carried one mile
39,816,840
Passengers carried per passenger train mile
Average distance traveled by each passenger (miles)
Average revenue from passengers per passenger train mile
Commodities transported—Manufactures, tons
Products of agriculture (wheat, 96,192 tons), tons
34.42
70.00
—
86.04 cts.
329,737
184,544
112,710
Products of animals (live stock, 100,968 tons), tons
Products of mines (bituminous coal, 187,802 tons), tons—
252,321
Products of forests (lumber, lath and shingles, 391,247 tons),
457,714
tons
Commodities not specified, tons
200,857
Total tons transported
1,537,883
Equipment, June 30 1910.—Locomotives, 368; cars in passenger service;
108; pars in freight service, 10,895; caboose cars, 76; work train, wrecking
and tool cars, 1,146; business cars, 5.
INCOME ACCOUNT FOR ELEVEN MONTHS END. JUNE 30 1910.
Average miles
Freight earnings
Passenger earnings
Malls, express, &c
♦
Outside operations
Total net revenue
Taxes accrued
1,434.24
$9,582,570
995,422
187,712
(net)
$5,528,673
235,361
$5,293,312
Operating income
Operating
$10,765,704 Hire
revenues
Maintenance
of way
and
560
1,960
$459,048
structures
Maintenance
$648,118
of equipment.
Int. on bonds owned
Other interest
Operating Expenses—
of
Gross corporate income
Deduct—
Rentals
Interest accrued
U. S. Govt, excise tax
equip¬
889,727
ment
Traffic expenses
Transportation
expenses.
General expenses
Operating expenses
314,777
3,488,837
122,471
—$5,943,950
$76,097
3,666,667
4,980
Total deductions
$5,274,860
Net operating revenue_$5,490,844
Balance of income acct., Montana RR
$3,747,744
Net corporate income— $2,196,206
5 mos. end. Dec. 31 ’09.
59.234
Balance for s^ear carried to credit of profit and loss
.'
♦Outside operations, viz.: Sleeping and dining cars, hotels
rants, gross, $400,683; expenses, $362,854,' net, $37,829.
BALANCE SHEET JUNE 30
Assets
$37,829
.
$2,255,440
and restau¬
1910.
'
-
Liabilities.
•
RR., prop. & franch. .$236,333,987
Bds. & stk. of oth. cos.
572,800
Stock of material & fuel
2,015,486
Advances to other cos..
1,546,006
Due from agents
1,087,491
Miscellaneous balances.
1,526,963
Due from U. S. Govt—
5,071
Cash on hand
1,525,972
Capital stock
: .$100,000,000
Funded debt.
123,000,000
Chicago
Milwaukee &
Ry. Co
Pay rolls and vouchers.
St. Paul
15,936,730
2,947,615
115,346
*2,614,086
Miscellaneous balances.
Profit and loss
(Vol.
Vice-Pres. and Gen. Mgr. J.
E. Childs says:
General Results.—The gross earnings for the year show an increase of
$288,613, or 3.48%; the working expenses an Increase of $239,045, or
4.24%; and the net earnings, after deducting taxes, an Increase of $19,512,
or 0.81%.
The surplus, after deducting fixed charges, rentals. <fcc., was
$1,312,797, a decrease of $30,330, or 2.26%.
The differential freight rates which this company has used almost con¬
tinuously since 1888 were withdrawn on March 15 1910.
Since that date
the rates have been on what is called the “standard” basis.
The ohange
has resulted in a large loss of traffic.
The earnings from the transportation of coal were $3,903,739, compared
with $3,875,583 In the previous year, an Increase of $28,156, or 0.73%.
The number of gross tons of coal transported from the Scranton Division
(exclusive of supply coal for company’s use) was 2,867,869, compared with
2,847,040 in previous year, an Increase of 20,829, or 0.73%.*
The total output of anthracite coal from the entire field for the calendar
year 1909 was 61,969,885 tons, a decrease of 2,695,129 tons, as compared
with previous year.
Milk Tonnage and Revenue.
1910.
1909.
Inc.
Tons of milk carried one mile
4.22%
24,127,730
23,150,111
Revenue from transportation of milk
$766,153
$734,115 4.36%
Double-Tracking.—Second track on the Scranton Division between
Starlight and Wlnwood, 4 miles, is nearly completed, and will be in use In
October.
Work is now progressing on second track between Poyntelle
Summit and Pleasant Mount, 8 miles, and it is expected will be completed
before Dec. 31.
OPERATIONS AND FISCAL RESULTS.
1908-09.
1909-10.
Miles operated
Operations—
546
546
Passengers carried, number
Passengers carried 1 mile.
Rate per passenger per mile
Freight carried (tons)
Freight (tons) carried 1 mile
Rate per ton per mile
Average train-load (tons)
Earnings per freight train mile
Earnings per passenger-train mile
Gross earnings per mile
2,148,972
85,364,944
2,065,411
80,592,224
*
RR.
Total
$214,613,776
1907-08.
546
2,005,932
85,876,600
1.869 Cts.
1.799 cts.
5,680,781
5,731,588
5,580,715
837,672,900 820,957,230 740,482,852
0.794 cts.
0.787 cts.
0.845 Cts.
1.865 cts.
•_
281
278
276
$2 14
$1 0498
$15,716
INCOME ACCOUNT.
$2 10
$0.9940
$15,187
$2 24
1909-10.
Earnings—
Passenger
Freight
1908-09.
$1.0384
$14,878
1907-08.
$
1,544,996
$
1,592,250
6,649,635
$
1,506,586
6,465,999
6,255,209
209,831
191,706
184,247
127,067
125,879
137,042
8,578,783
8,290,170
8,121,494
139,244
3,191,409
1,316,046
1,034,454
200,994
114,263
3,053,847
1,380,387
920,196
174,408
128,992
2,824,197
1,319,968
975,194
171,977
5,882,147
(68.56)
2,696,636
43,842
5,643,101
(68.07)
2,647,069
36,321
5,420,328
(66.723)
2,701,165
37,443
2,652,794
211,693
2,610,748
189,160
2,663,723
2,441,100
2,421,588
2,495,751
53,953
12,567
390,750
16,094
412,317
432,217
2,844,417
2,849,998
2,998,018
54,357
957,920
152,056
255,302
111,985
58,259
960,420
152,877
251,943
83,372
49,779
958,531
165,912
278,174
25,032
1,531,620
1,506,871
1,312,797
1,343,127
1,477,429
1,520,589
210
Deduct dividend on preferred stock.
Deduct dividend on common stock (2% )1,162,118
210
210
1,162,112
1,162,098
1,162,328
150,469
1,162,322
180,805
1,162,308
Mail and express
Miscellaneous
Total
.
._
Operating Expenses—
Traffic
expenses
expenses
Transportation
Maintenance of equipment
Maintenance of way, &c
General expenses
._
.
_
Total..
Per cent expenses to earnings
Net earnings
Outside operations deficit
Total net revenue
Taxes accrued
Operating income
equipment
recefved
Hire of
Rentals
_
..
.
_
.
...
.
.
_
..
..
..
Interest, &c
Gross corporate income
Disbursements—
Rentals paid
Interest on bonds
Interest and discount
Rentals
Hire of equipment.
Totals
Balance
—
_
$244,613,7761
Total
LXXXXI
adding $358,648 balance of profit and loss account of Montana
July 31 1909.—V. 89, p. 1482.
After
Surplus for the year
...
167,972
16^098
358,281
BALANCE SHEET JUNE 30.
Wabash Railroad.
(Preliminary Report for Fiscal Year ending June 30 1910.)
1910.
Revenue—
1908.
1907.
..
_.
Total
Operating
1909.
..$19,473,372 $17,176,709 $17,103,693 $18,465,286
7,075,314
6,395,775
6,470,678
6,891,289
2,337,370
2,295,549
2,165,702
2,075,898
Freight
Passenger
Mali, express, &c
expenses..
..$28,886,056 $25,868,033 $25,740,074 $27,432,473
20,536,223
18,757,185
18,843,748
18,554,131
..
Net operating revenue $8,349,833
Taxes
851,324
Operating income.
_
__
Other Income
Total Income
__
Interest, rentals. &c_
__
$7,498,509
874,172
$8,372,681
7,826,963
■>
$7,110,848
809,636
$6,896,326
$6,301,212
1,137,445
$6,168,856
878,504
$7,994,791
942,527
$7,438,657
$7,047,360
6,830,494
$8,937,318
8,475,654
7,597,916
Note.—Comparison of items with 1909 figures are inaccurate in many cases, owing
changes prescribed by Inter-State Commerce Commission in form of balance sheet.
1910.
1910.
1909.
1909.
Liabilities—
$
Assets—
$
S
$
Common
stock...58,113,983 58,113,983
Road and equip¬
ment
4,000
4,000
a79,162,387 78,655,435 Preferred stock
Securities of pro¬
Mtge. bonds
23,948,000 23,948,000
Coil, trust bonds.. 2,375,000
2,825,000
prietary,
affili¬
Loans & bills pay.
con¬
ated and
944,895
449,400
245,864
99,638
trolled Cos
&11,001,778111,464,837 Traffic balances..
Vouchers
&
105,885/
wages 2,217,217\ 2,224,104
Mlscell. Investm’s.
40,061
40,061 Operating reserve.
164,618/
Adv. to other cos.
Cash
781,496 1,176,156 Matured int., div.,
1
& rents unpaid.
Traffic balances.. 1,162,139
967,122
47,314)
292,977
10,374
117,324 Int., divs. & rents
Loans dc bills rec.
accrued
325.156J
Material & suppl’s
801,207
906,270
Other work, assets
930,655
571,911 Profit and loss
5,893,139 5,706,795
31,915
Deferred debit items
16,070
to
727,470
$8,878,342
883,551
Total
94,132,960 93,810,123
1910, $79,162,387, includes Investment to June 30 1907,
$76,822,930 (road $69,856,569 and equipment $6,966,361); investment since June
30 1907, $2,766,263 (road $1,772,904, equipment $974,459, and general expenditures
$18,900); less reserve for accrued depreciation (equipment), $426,806.
Total
a
Balance,
sur. or
def_sur.$545,718 def.$159,259 sur.$216,866 sur.$461,664
-V. 91, p. 277, 39.
New York Ontario & Western Railway.
{Report for Fiscal Year ending June 30 1910.)
Fowler, Aug. 31, says in substance:
Pres. Thomas P.
Dividend.—The board recently declared a dividend of 2% upon the
common stock, which was paid to stockholders Aug. 15.
Bonds.—There has been no Increase of funded debt during the year,
and, in fact, no issue of bonds has been made since Feb. 1907, although in
the Interval extensive additions have been made to the property which
have been financed temporarily out of current funds and bank loans. It is
proposed to reimburse the treasury and liquidate the floating debt incurred
by
an issue of general mortgage bonds in such amount as the board may
deem necessary when authorized by the Public Service Commission.
[An
issue of $12,000,000 general mortgage bonds was authorized in 1904, of
which $3,948,000 are outstanding.—Ed.]
Extension, &c.—The extension of the Capouse branch (a distance of 4 6
miles) to a connection with the Lehigh Valley RR. near Scranton, Pa.,
was completed during the year, and recently (on June 15) opened for
traffic.
A considerable amount of second track on the Scranton Division
has been laid, and a large coal storage plant at Cadosla is also under con¬
The second track on the Scranton Division will have to be com¬
struction.
pleted to Cadosla in order to secure efficient and economical train move¬
ment, and it is hoped that before the close of the fiscal year the work
may be finished and a double-track line thus provided from the anthracite
coal field to tide water.
Equipment Trust.—14 additional locomotives, 500 coal cars of 40 tons
capacity and 7 passenger coaches were purchased for delivery during the
present summer, their cost being in part provided by an issue of car trust
certificates to the amount of $720,000, bearing Interest at 4% per annum,
and maturing within 10 years from date, in 20 semi-annual installments
(V. 90, p. 977) .
...94,132,960 93,810,123
Road and equipment in
5 Securities of proprietary, affiliated and controlled companies Include pledged
stocks, $1,895,000, and funded debt, $4,975,000; also unpledged stocks, $417,138
funded debt $3,570,000 and miscellaneous investments $144,640.—V. 91, p. 393, 39
Texas Central Railroad.
{Report for Fiscal Year ending June 30 1910.)
Charles Hamilton, Vice-President and General Manager,
Waco, Tex., Aug. 15 wrote in substance:
General Results.—The eighteenth annual report shows a decrease in gros®
earnings of $150,205 (12.90%), a decrease in operating expenses, including
taxes, of $191,731 (20.65%), and an increase in net earnings of $41,525
After deducting interest and other charges and dividends
(17.57%).
($66,225) on pref. stock, there remains a net surplus for the year of $145,968.
In addition to above, there was expended in additions to property, and
charged direct to property account, $141,704.
Property.—The line extends from Waco to Rotan, 268 miles, with 38
miles of sidings and spur tracks.
The entire main line is laid with steel
as follows:
15 miles, 77 XA lbs. per yard; 51 miles, 75 lbs.; 17 miles, 80 lbs.;
75 miles, 56 lbs.; 52 miles, 60 lbs.; 58 miles, 56 lbs.
Five thousand tons of
80-lb. open-hearth steel rails were purchased in January; over 2,000 tons
have been received and are being laid, replacing 56-lb. rails.
163 miles of
track are thoroughly ballasted, 138 H miles with superior gravel and 24 ^
miles with crushed rock, leaving 105 miles to ballast; this work can be
nearly accomplished during the current fiscal year. The track is well tied,
3,000 ties to the mile, with oak, long leaf yellow pine 90% heart, some
treated pine ties and some cypress ties, all In good condition.
There are 96 steel spans, erected on masonry, aggregate length 5,554 ft.
the longest being 200 ft.; three combination steel and ironspahB; 36 opening,
from 1,0 to 18 ft., with wooden stringers on stone abutments; 93 woodes
Sept.
0 1910.
THE CHRONICLE
pile and trestle bent bridges, aggregating 4,228 ft.; 247 substantial stone,
iron and vitrified pipe culverts.
DeLeon-Cross Plains Branch.—We have long contemplated the con¬
struction of a branch from DeLeon, through Comanche, Eastland, Callahan,
Taylor and Nolan counties, having in view the possibility of some day
extending further west.
Early in the year we promised to build to Cross
Plains, about 41 miles, and at this time the grading is about half finished
and the work is progressing rapidly.
Consideration should be given to the
extension of the line from Cross Plains, about 40 miles, to Abilene, one of
the most important shipping points west of Fort Worth.
western Extension.—Last year we began surveying for an extension of
100 miles beyond Rotan.
Our engineer reports having found only one
satisfactory line, the maximum curvature of which would not exceed 4 de¬
grees and the maximum grade not exceed 1%, which, by the way, is the
maximum
the entire line as now constructed except 4 miles of 1 H
%
This extension should be taken in
In order to enable us to participate in the
prosperity that is
over
grade between Coghills and Acampo.
hand at
once
going to follow the completion of the Santa Fe cut-off between Texico and
Coleman and the branch therefrom running south through Lubbock, Lynn,
Dawson and Martin counties.
Coal.—It is well known that Palo
Pinto, Stephens, Jack, Young and
possibly surrounding counties in that district are underlaid with a good
Quality of bituminous coal, and the importance of constructinga branch into
this district is Increasing every day, not only as affording a saving in
the
cost of our own fuel, but for the tonnage that would be secured
by the
transportation of commercial coal.
Rolling Stock June 30
—Average Annual Maintenance—
June 30—
1910
1909
1908-.
1907
LocoPassenger Freight
motives.
Cars.
Cars.
30
32
322
30
32
352
28
29
374
24
274
23
Loco-
Passenger
motives.
Cars.
$1,994
$610
2,668
640
2,186
452
607
1,700
OPERATIONS AND INCOME ACCOUNT.
Operations—
1909-10.
1908-09.
268
Average miles operated
i_.
268
Tons carried
l
284,210
314,758
Tons carried one mile
27,977,545
33,037,911
Revenue per ton per mile_-.__
2.0898 Cts.
2.0980 cts.
Passengers carried
276,330
301,211
Passengers carried one mile
13,916,282
15,464,685
Revenue per passenger per mile
2.4810 Cts.
2.5300 Cts.
Earnings—
$
$
Freight
584,673
693,158
Passenger
1
346,202
393,288
Sleeping car.l
6,570
6,642
Mail27,824
28,573
Express
31,997
30,241
Miscellaneous
17,009
12,579
Total earnings
Expenses and Taxes—
Maintenance of way and structures
Maintenance of equipment
Traffic expenses
Transportation
246,898
24,937,479
2.2156 Cts.
273,145
14,792,857
2.5673 Cts.
$
552,534
381,593
5,264
24,335
30,696
14,495
229,245
181,050
13,856
419,902
53,035
31,179
242,269
144,776
10,834
375,181
41,718
24,243
736,536
(72.62)
277,739
928,267
(79.71)
236,214
839,021
(83.13)
170,146
5,327
277,739
236,214
175,474
39,615
10,396
66,225
31,000
14,491
66,225
124,272
23,731
31,000
Total
receipts
Payments—
Interest on bonds
Interest on current liabilities
Dividends on preferred stock (5%)..
improvements..
15,534
...
1907-08.
268
160,413
150,560
18,752
330,412
44,138
32,261
•
Total payments...
Balance for year
84
71
71
1,009,167
expenses
New equipment and
Hire of equipment
$90
1,164,481
Total expenses and taxes
Per cent of exp. and taxes to earnings
Net earnings
Other Income
Less
Cars.
1,014,275
■_
General expenses
Taxes.
Freight
131,770
sur.145,969
66,225
205,849
37,282
259,719
340,357
def.23,505 def.164,883
,
...
5,548,125 5,952,395
Total
The following comparative table covering the past three years shows
that the loss Is mainly accounted for by the disparity between the Increase
In cost of raw stock and the price obtainable for finished leather.
Years ending June 30.
1907-08.
1908-09.
1909-10.
$
$
$
Hides and skins used, Ac. 9,180,330 10,525,224 13,299,708
Mfg. supplies and expense. 3,342,059 3,381,313 3,432,092
209,693
♦Replacements and repairs
214,281
207,430
582,985
Discounts
741,903
704,869
Manufacturing profit
1,137,071 2,590,169
620,168
5,548,125 5,952,395
Percentage of Cost to
Output at Selling Val.
’07-08. *08-09. '09-10,
%
%
%
63.54
23.13
1.44
4.02
7.87
60.32
19.38
1.21
4.25
14.84
72.79
18.78
1.17
3.87
3.39
17,448,302 18,271,118 100.00 100.00 100.00
242,500
241,282
1.62
1.39
1.32
32,246
18,454
.09
.18
.10
245,918
216,911
278,930
1.50
1.41
1.52
672,898 2,069,505
4.66
81,502
11.86
.45
233,773
Selling expense.
13,488
♦Bad debts and reserve
General expense
♦Profit before interest....
1,137,070
47,257
511,500
127,579
2,590,169
620,168
7.87
14.84
3.39
33,231
.33
112,760
.19
.62
511,500
3.54
511,500
2.94
2.80
137,053
153,832
.88
.79
.84
loss 16,491
loss.11
lossl3,438 1,404,212 loss696,590 loss .09
8.05loss3.81
Int.on loans less int.earned
Int. on 1st M. bonds
Cost of 150 bds. forsink.fd.
Less miscellaneous income
Balance to surplus acct—
672,898
2,069,505
81,502
4.66
11.86
.45
*
Trading profits per statement is the sum of these items.
The bonds In the hands of the public at June 30 1910 amounted to $6,”
412,000, having been reduced by the acquisition for the sinking fund of
$150,000 (being the usual appropriation) and $116,090 purchased out of
accretions to the fund; the cost of these $266,000 bonds was $270,050.
There are now $2,113,000 bonds held for the sinking fund, together with
cash and accrued Interest, $43,233, making a total of $2,156,233 in the fund.
The charge to profit and loss account In respect of the appropriation for
sinking fund for the past year, together with Interest on the bonds In this
fund, has been $276,123, and, as usual, this, in conjunction with the outlay
on replacements and repairs. Is considered as taking the place of any
specific provision for depreciation.
Additions, improvements and betterments added to cost of property
during the year amounted to $112,414; on the other hand, there has been
realized by sales of land, machinery, Ac., $7,174, leaving the net Increase
for the year $105,240.
The total current assets on June 30 1910 amounted to $10,988,857, being
a decrease of $294,163, compared with the previous year’s
figures. The
current liabilities were $2,306,544, an increase of $507,668.
The excess of
current assets over current liabilities
Is, therefore, $8,682,313, being
$2,270,313 more than the total bonds outstanding, leaving In addition the
entire plant and good-will standing against the capital stocks of the co.
INCOME ACCOUNT OF COMPANY AND ITS SUBSIDIARIES.
1909-10.
1908-09.
1907-08.
Trading profits
Profit
$314,237
bonds purch. for sink, fd., Ac.
on
Total
$2,311,444
16,491
$893,815
22,421
$314,237
$2,327,935
$916,236
Replacements, renewals and repairs.
$214,281
Bad debts and res. for doubtful debts
•Interest on bonds
All other Interest
18,454
511,500
112,759
153,833
$209,633
32,246
511,500
33,231
137,053
$207,429
$1,010,827
$923,723
deficit for year.def.$696,5£0sr.$l,404,212
$929,674
def.$13,438
Deduct—
Sinking fund appropriations
Total...
BALANCE SHEET JUNE 30.
1910.
1909.
1910.
1909.
Assets—
$
$
Liabilities—
$
$
Property account...6 ,265,504 5,123,800 First mtge. bonds... 1 202,000 1,300,000
De Leon branch....
91,393
Stock, common
.2 675,000 2,675,000
Bonds in treasury...
63,000
650,000 Stock, preferred
1 ,325,000 1,325,000
Stock in treasury
26,200
26,200 Vouchers A pay-rolls
67,889
62,866
Unadjusted claims A
Bills payable, Ac
*350,860
miscellaneous
31,713
24.498 Due RRs. and others
67,565
62,304
Cash
7,556
1,801 Interest
13,863
10,594
Due from agents.con¬
Dividends due
33,113
33,113
ductors, railroads
Taxes
6,183
6,183
and others
23,573
40,244 New rails & equipm’t
111,955
Materials & supplies.
34,186
21,930 Equip’t, replac’t, Ac.
36,979
14,518
Income account.^..
* 120,533
63,922 Profit and loss
Total
653
Balance, surplus
*
Includes int.
or
on
13,488
511,500
47,257
150,000
bonds in sink, fund amounting In 1909-10 to $122,290.
BALANCE SHEET OF COMPANY AND SUBSIDIARY CO'S JUNE 30.
1910.
1909.
^
A. ssets
Cost of properties a26,519,209a26,413,969
Sinking fund
543,233
8,626,370
SuppUes
637,161
8,776,616
Bills and accounts
1910.
1909.
Liabilities—
$
$
Pref. shares
13,000,000 13,000,000
Com. shares
11,500,000 11,500,000
1stM. 6% bonds..d6,412,000 d6,678,000
Interest accrued..
170,500
170,500
Loans payable
1,800,000
1,002,505
receivable
cl,742,524 c2,105,089
Sundries,
claims,
Foreign exchange.
106,440
Ac
30,553
12,334 Trade accounts
160,804
Insurance
unexWages, Ac.
68,801
plred
61,390
71,848 Sink, fund 1st M._ 2,156,233
Cash
528,020
317,133 Surplus
2,176,521
Total
..37,551,299 37,734,150
Total
296,357
259,080
70,435
1,884,161
2,873,112
...37,551,299 37,734,150
Cost of properties includes 4,517 shares preferred and 2,259 shares common
stock of American Hide A Leather Co. held in trust.
6 Includes only cash and accrued int., the
par value of bonds In sink, fund ($2,113,000in 1910, agst. $1,847,000 in 1909) pot being treated as an asset—see foot-note d.
c After deducting reserves of
$139,214 for doubtful debts in 1910, $154,150 in 1909.
d After deducting $475,000 bonds in
treasury and $2,113,000 bonds in sinking
fund in 1910, against $1,847,000 in 1909—see foot-note 6.—V.
89, p. 595.
a
*
Bills payable, Ac., in 1909 include: Bills payable, $242,000; due Moran Bros.,
$55,470; reconstruction, $10,943; Western extension, $42,447.—V. 91, p. 590, 155.
Susquehanna Railway, Light & Power Go.
(Report for Fiscal Year ending June 30 1910.)
President George Bullock says;
(Advance Statement for Fiscal Year ending June 30 1910.)
In advance of the President’s
After paying all fixed charges and deducting $91,669, which was the
depreciation and for amortization, the surplus for
an increase over 1909 of 20%.
During the year
$686,847 was authorized and expended for extensions, additions and better¬
ments to the various properties.
The controlling Interest in the stock of the Wilkes-Barre
Co., which
operates the electric light, gas and steam-heating properties In WilkesBarre, Pa., has been acquired, but Its earnings will not show in the Sus¬
quehanna statement until after July 1 1910.
(See Wilkes-Barre Company
under “Industrials” on a subsequent
page.—Ed.)
amount set aside for
the year 1910 showed
EARNINGS FOR
Net
YEAR ENDING JUNE 30.
1909-10.
1908-09.
earnings subsidiary companies
accruing to Susquehanna Co
Int. and dividends on securities held.
Int. on loans to subsidiary cos
Interest on cash balance
Miscellaneous Income.
Total net earnings
Deductions—
Int. on United Gas A Elec. Co. bonds
Int. on Lane. Co. Ry. A Lt. Co. bonds
Dlvs. on Un. Gas A El. Co. pref. stk.
Dlvs. on Lane. Co.Ry.ALt.Co.pf.stk.
Dlvs. on Susq. Ry.,Lt.AP.Co.pf.stk.
Reserve for depreciation of plant and
equipment of subsidiary companies
Total deductions.
Undivided surplus
*
$677,714
51,717
*
18,632
$748,063
$463,315
f
28,989
(
2,752
2,368
45,960
33,432
1,082
7,690
$612,362
$551,479
•!
$91,075
50,000
58,605
$89,051
50,000
50,000
(5)204,610
(5)204,610
1907-08.
$528,070
50,183
$86,375
50,000
58,605
50,000
*131,632
50,000
58,605
91,669
$545,959
$452,266
$376,612
$202,104
$174,867
$160,096
At rate of 5% since date of organization.—V.
91, p. 590, 465.
American Hide & Leather Go.
(Report for Fiscal Year ending June 30 1910.)
President Thomas W. Hall says in substance:
The unfavorable market conditions
obtaining throughout the
year
have
far affected the company that the year’s operations have resulted In a
reduced trading profit of $314,237, which, after
charging replacements,
renewals and repairs, reserve for bad and doubtful
debts, Interest, and the
usual sinking fund appropriation, Is turned into a loss of
so
International Paper Go., New York.
$696,590.
report, a statement has been
issued, signed by Asst. Treasurer Owen Shepherd, showing:
J
*
EARNINGS, EXPENSES
1909-10.
Gross Income
Cost of raw
materials,
manufacturing, Ac...
Taxes, Insurance A Int.
*■
Surplus for year
Previous surplus
Deduct disc,
on
1907-08.
1906-07.
$19,459,030 $18,238,477 $20,716,304 $21,841,486
Net
Balance
Dlvs. on pref. stock
AND CHARGES.
1908-09.
17,278,255
16,456,379
17,878,134
19,000,016
$2,180,775
1,163,710
$1,782,098
$2,838,170
1,202,252
$2,841,470
1,217,853
$1,017,065
$598,102
$1,635,918
$1,623,617
(2)448,134 (5)1,120,335 (6)1,344,402
(2)448,134
$568,931
7,531,051
$149,968
7,381,083
$515,583
6,865,500
$279,215
6,661,285
$8,099,982
$7,531,051
$7,381,083
$6,940,500
75,000
$8,099,982
$7,531,051
$7,381,083
$6,865,500
bonds._
Surplus June 30
1,183,996
WORKING CAPITAL JUNE 30.
1910.
Current assets
Current liabilities
Current assets in
rent lliblllties
excess
of
1909
$11,011,637
5,284,428
$11,482,711
6,083,835
$5,727,209
$5,398,877
Inc.
or
Dec.
Dec. $471,074
Dec. 799,407
cur¬
Inc.
$328,333
BALANCE SHEET JUNE 30.
Assets—
1909.
1910.
1908.
Mill plants and water powers
$45,741,424 $45,634,907 $45,569,853
Woodlands
3,532,814
3,617,787
3,697,560
Securities qf sundry corporations
9,834,511
9,957,712
10,114,532
Sinking fund
53,136
5,197
1,301
Patents
5,700
5,700
Furniture and fixtures
18,432
14,626
23,238
Cash
815,374
774,487
751,707
Accounts and notes receivable
3,575,287
3,914,513
3,110,111
Inventories of merchandise on hand
and advances for wood operations.
5,860,257
5,061,650
5,320,523
Int. and discount adjustment.
54.491
45,085
Due from subsidiary companies.. ^.
1,218,190
1,720,544
Total
$70,145,910 $70,770,386 $69,134,354
THE CHRONICLE
654
Liabilities—
1910.
1909.
1908.
Common stock
$17,442,800 $17,442,800 $17,442,800
Preferred stock
22,406,700
22,406,700 22,406,700
Bonds
16,912,000
17,306,000 17,560,000
Notes and accounts payable
4,114,811
3,608,224
3,842,245
Accrued lnt. and water rents, not due
315,743
327,635
277,458
Due to subsidiary companies
1
1,248,427
1,529,356
_
__
Dividend July 15
112,033
112,033
224,067
Surplus
8,099,982
7,531,051
7,381,083
Total
$70,145,910 $70,770,386 $69,134,354
The company has certain contingent liabilities for notes endorsed and
for bonds of subsidiary companies guaranteed.—V. 91, p. 467.
__
_______
__
United Dry Goods Companies,
New York.
{Report for the Half-Year ending July 15 1910.)
President John Claflin says:
The result of the season’s business under conditions not altogether favor¬
able shows that the company’s earning power Is established.
Our invest¬
ment In the business of Lord & Taylor, which will appear In the next bal¬
ance
prove
sheet, was made after careful study, and
advantageous.
we are
confident It will
INCOME ACCOUNT.
6 Mos. to
Mos. to
July 15 ’10. Jan. 15 ’10,
Net Income
1
Deduct—Dividends on pref. stock (3M%)
Dividends on common stock
Total
$1,176,568
$813,292
$568,821
$139,792
$607,747
350,000
(4%)446,524(2%)211,104
7,717
Dividend and Interest adjustments
.
$953,084
366,768
deductions
Surplus
BALANCE SHEET.
Assets—
July 15 ’10. Jan. 15 ’10.
98,131 shares of the cap. stk. of Assoc. Merch. Co_ $9,813,100
$9,813,100
Net tangible assets of Hahne & Co., Powers Mer¬
cantile Co., Wm. Hengerer Co. and Stewart Dry
Goods Co., exclusive of cash
10,590,929
10,627,927
Cash of United Dry Goods Cos., Hahne & Co.,
Powers Mercantile Co., Wm. Hengerer Co. and
Stewart Dry Goods Co
2,106,610
1,566,921
$22,510,639 $22,007,948
Total
Liabilities—
Preferred stock
Common stock
607,748
747,539
Total
.$22,310,639 $22,007,948
During the season 3,629 shares of the preferred stock were issued to
employees at par and paid for by them.—V. 91, p. 158, 42.
Miles of main.
254.3
229.7 16 c.-p. lamps.
Gas consumers,
K.tf w. hours
number
sold (year).
31,219
28,140
Gas sold (year)
Motors, No...
cubic feet.. 1,007,972,600 908,031,200 H. p. connect.
Ranges No
24,357
21.740 Arc lamps,No.
Water heaters,
9,7SO
8 4 9 Electric signs.
Oth. appl. con.
20,366
20,327 50 c.-p. street
Elec, cons.,No.
28,571
24,859
{Report for Half-Year ending Aug. 1 1910.)
6 Mos. to
6 Mos. to
6 Mos. to
6 Mos. to
Aug. 1 1910. Aug. 1 1909. Aug. 1 1908. Aug. 1 1907.
$601,021
$656,726
$538,663
$710,867
Net earnings
Dividends on—
pref. (see below). (3)139,457
(3)178,155(2M)150,858
(3)181,725
pref. (see below)_(3 Y>) 179,175(3 H) 178,318
(3)152,214(3,^)177,583
For common stock_r_
$338,094
$244,548
$235,591
$351,559
Div.on com.(see below) (4 H)335,214(4 1^)278,082(3 M)214 ,893(4 H)274,092
Remainder
*$2,461 *def.$34,576
*$20,647
*$76,766
*
After deducting $419 “adjustment of Interest extinguished” in half-year
ending Aug. 1 1910; $1,043 in half-year ending Aug. 1 1909; $51 in halfyear ending Aug. 1 1908 and $701 in half-year ending Aug. 1 1907.
Note.—The dividends shown above, In accordance with our usual method,
include the “extra” dividends paid for the several half-years. The company
in Its statement for the recent half-year charges against the earnings of that
period only the regular dividends paid (2J^% on first preferred, 3% on
second preferred and 3K% on common stock), leaving a surplus above
the same of $125,792, which is carried to “extra dividend account,” making
with $353,968, the amount of the extra dividend account on Feb. 1 1910.
a total of $479,760.
The extra dividends paid for the half-year amounted
to $123,331, the difference between $125,792 and that amount being $4,261,
as shown above. Increasing “present extra dividend account” to $356,429.
BALANCE SHEET AUG.
1910.
Assets—
Cash
1.
1909.
1908.
$1,172,857
$998,634
$816,428
43,830
48,700
48,700
5,000,000
5,000,000
5,000,000
8,100,000
8,100,000
8,100,000
5,000,000
5,000,000
5,000,000
Cash (£9,000 in 1910 and £10,000 in
1909 and 1908) for importations in
transit
45,001 shares (out of 90,000) of the
stock of H. B. Claflin Co.*
All the. primary securities of
_
J. McCreery & Co., N. Y ; Stewart & Co.,
Balto.; J. N. Adam & Co., Buffalo,
and $2,400,000 debenture bonds of
O’Neill-Adams Co., N. Y. (aggre¬
gate par vaLue)
Junior securities, yielding more than
10% annual income_a
TotalI
Liabilities—
First preferred capital stock
Second preferred capital stock
Common capital stock
Importations in transit
account—
$19,316,687 $19,147,334 $18,965,128
$4,629,900
5,119,800
7,500,300
43,830
356,429
1,666,428
$5,498,500
5,115,800
6,635,700
48,700
182,206
1,666,428
$6,033,900
5,073,800
6,142,300
48,700
1,666,428
Total$19,316,687 $19,147,334 $18",965,128
The securities owned as above give the Associated Merchants’ Co. entire
ownership of James McCreery & Co., Stewait & Co. and J. N. Adam & Co.
and ownership of four-fifths of the debenture bonds, two-thirds of the in¬
come bonds and four-fifths of the capital stock of O’Neill-Adams Co. and
four-fifths of the common stock of C. G. Gunther’s Sons.
During the halfyear 10 shares of the first preferred stock were converted into second pre¬
ferred stock and 945 shares into common stock.
*
The shares of the H. B. Claflin Co. had a book value as of July 1 1910
of $5,395,518; July 1 1909, $5,398,289; July 1 1908, $5,392,270.
a The
income on $5,500,000.—V. 91, p. 591.
(The) Denver (Colo.) Gas & Electric Company.
{Report for Fiscal Year ending May 1 1910.)
At the adjourned annual meeting held Sept. 2, the report
of President Henry L. Doherty, dated May 10, was presented,
saying in substance:
?
General Results.—The company has continued to increase the amount of
Its Bales of gas and electricity at a; most satisfactory rate, the following be¬
ing the ifcsults secured during the year: Increase in gas sales, 99,941,400
cu. ft., a gain of 11% in quantity and a gain of 10% in dollars of gross re¬
ceipts. Increase ip electric sales, 3.548,038 kilowatt hpurs, a gain of 12%
In Quantity and a gain of 8.7% In dollars of gross receipts.
As pointed out
In previous reports, the fact that the gain in grdss receipts Is not as great
as the growth in quantity of gas or electricity sold Is due to gradual reduc¬
tions made in rates in conformity with the requirements of the franchise ordi¬
nance of 190ft. -7 ;<J.u ’<"■
Vs
w*.-;’’•’■(■■ ''I «
Addition^.-r^Thp growth of Denver has occasioned considerable additions
property, the amount expended during the year being $534,042, the prin¬
cipal, hejas consisting Of: (1) Gas Department—Ten additional benches
for the manufacttireotjeoa^gas; increase of $0% In the capacity of the pYesent water gas machines; erection in the eastern part of the city of a 500.00Q
cu. ft, holder: extenslon.of mains 24.6 miles; installation of 2,933 services
and purchase of '6*924 additional meters.
At this time we are making ex¬
to
429,940
33,130,192
29,612,154
2,155
2,292
15,172
3,299
13,172
3,182
491
703
.
predict further satisfactory Increases during the coming
year.
GROSS AND NET EARNJ NGS— YEARS ENDING MA Y 1.
Gross.
Net.
Gross.%%
\Ne .
1909-10
$2,471,148 $1,096,285 1904-05.
..$1,326,646
$546,177
1908-09
97 ,250 1903-04
2,257,467
1,140,646
482,226
1907-08
2,039,429
831,214 1902-03..
-*.879,736
349,254
1906-07
1,793,766
695,201 1901-02
151,113
.*675,124
1905-06
1,577,560
651,549
.
INCOME ACCO UNT YEARS ENDING MA Y 1
1909-10.
1908-09.
1909-10.
Deduct—
Gross earns.. $2,471,148 $2,257,467 lnt. on bds.,&c.$424,854
Op.exp.&tax_ 1,374,863
1,283,217 DIvs. (6%).
210,000
.
earns-.
$1,096,285
$974,250
Bal., surp.
BALANCE SHEET MAY. 1.
1910.
1909.
Liabilities—
$
$
Assets—
Plant & investm’t. 12,479,603
Store-room & sup-
ply accounts
Exp. paid in adv.
Gas & electric bills
receivable
Sundry accts. rec.
Cash in bank! and
office
...
...
...
196,671
23,963
191,960
89,659
206,120
11,945,561 Capital stock..
241,440
23,964
$461,431
.
1910.
$
...
pos. & sink. fund
368,752
167,443 Coupons & interest
accrued
63,382
22,270
Surplus and re-constructlon
reserve
249,743
1,878,504
Total
...13,187,976 12,691,533
—V. 91, p. 156, 41.
Total
850S.J •rU'CiV;
1908-09.
$387,976
210,000
$376,274
1909.
$
3,500,000
7,478,600
305,673
23,939
1,383,321
...13,187,976 12,691,533
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Bingham & Garfield Ry.—Bond Offering.—See advertise¬
ment of Eugene Meyer Jr. & Co., 7 Wall St., in last week’s
“Chronicle,” offering $500,000 1st M. 6% convertible bonds,
guaranteed, p. & i., by Utah Copper Co.
Total issue, $2,500,000; dated July 1 1910 and due July 1 1920.
The
first installment of 20% on this issue has been paid.
The remaining in¬
stallments of 20% each are payable Oct. 1 and Dec. 1 1910 and Feb. 1
and April 1 1911.
See also V. 90, p. 1674.
Central Illinois Public Service
Name.—See Mattoon City Ry.
Co., Mattoon City, HI.—New
below.
Central New England Ry.—Maximum Payment on 5%
Income Bonds.—Notice is given to the holders of the $7,250,000 general mortgage 5% income bonds dated 1899 (of which
$6,900,000 or more are owned by N. Y. New Haven &
Hartford RR.; see V. 90, p. 1238) that the directors have de¬
clared 5% interest on said bonds for the year ending July 1
1910, payable to owners of record as of Sept. 30. The first
distribution, made a year ago, was only 4%. Compare
V. 89, p. 592, 102.—V. 91, p. 396, 153.
Chesapeake & Ohio Ry. of Indiana.—Mortgage.—This
company is filing for record its new $40,000,000 mortgage
in favor of the Mercantile Trust Co. of N. Y. City, trustee.
The $8,200,000 bonds to be issued at present will be owned
by the Chesapeake & Ohio Ry. Co. (V. 91, p. 214). The
bonds are 50-year 5s, due July 1 1960, but subject to call at
par and interest on any interest day.—V. 91, p. 93, 153.’
Cleveland Short Line Ry.—Construction.—-The “Railway
Age-Gazette” of New York for Sept. 2 said:
An officer writes that contracts are about all let for building this belt
line around Cleveland, Ohio, from a point near West Park, 7 miles west of
Cleveland, east, thence northeast to Colllnwood, 19.05 miles.
The line is
in operation from the western terminus east to the southeastern section
Of Cleveland on 9.68 miles.
A section of the line from this point parses
through Southeast Cleveland under the main streets, also under the tracks
of the Pennsylvania Lines, the Erie and the Wheeling & Lake Erie, through
double-track tunnels 40 ft. below the surface.
The work is heavy and in-,
eludes grade separation of 32 highways and streets.
The line will furnish,
interchange facilities between all railways entering Cleveland.
Work was
started in May 1906.
Compare V, 86, p. 167; V. 88, p. 563.
j
Duluth-Superior Traction Co .—On 5% Basis.—A quar¬
terly dividend (No. 5) of 1%% has been declared on the
$3,500,000 common stock, payable Oct. 1 to holders of reeprd
Sept. 15, comparing with 1 % quarterly from Oct. 1909 to
July 1910, inclusive —Y. ,91, p. 276. v
.'v :r
Evansville & Terre Habte: TbUL^Qommon Sto$k Dividend#,
Continued.—A dividend of 5% ;on the common stock has
be^n declared, payable, Nov. 1 fcq stockholders of record
17, comparing 1 with ,4% yearly from 1906 t© 1900.
'
oek
.
La*,
3,500,000
Bonds & bills pay. 7,418,450
Accts. and wages,
consumers’
de-
tensions into the Montclair, Washington Bark. Harmon and Elyria and
Giobcvhie districts* as well as extensions on the North Side, all into rather
.'-M'f OVIOOOT
V>VOV-'!'J ,.Cyj
\S
Cv ? VJwV
481,227
912
787
lamps, No..
Finances.—The 7% notes issued in 1907 have been redeemed, and also
the prior lien bonds outstanding May 1 1909.
The only bonds against the
property now, other than the general mortgage bonds, are the underlying
bonds of the Denver Consolidated Gas Co., amounting to $936,600, and as
they may be taken up in 1911, the general mortgage bonds will then become
a first mortgage on all the
property.
At present they are a first mortgage
on the electric
property.
The change made in the general mortgage, authorizing the establishment
of a sinking fund, has been effective this year, and on May 1 1910 1 % of the
then outstanding bonds were redeemed at 102 and Interest
Rates.—Reductions have been made in the electric rate as follows: Con¬
sumers purchasing at the meter rate, 9c.
per kilowatt hour gross, less a dis¬
count of lc. for payment within 10 days, making the net rate 8c. per kilo¬
watt hour.
This rate was made effective Jan. 1 1910.
Announcement has also been made of a reduction in the rate to meter users
of gas as follows: (effective July 1 1910): Gross rate, $1 per 1,000 cu- ft.,
less 10c. discount for payment within 10 days, making the net rate 90c.
per 1,000 cu. ft.
Balance Sheet.—The surplus and reconstruction reserve account now
amounts to about 54% of the outstanding stock.
Outlook.—Denver has grown rapidly during the past year and all indi¬
cations point to a continuance.
We therefore believe that It is safe to
Net
Associated Merchants7 Company.
Extra dividend
Surplus
sparsely settled districts, but It is believed that this investment will yield,
satisfactory returns within a short time. (2) Electric Department—Work
is under way for the Installation of an additional 5,000 kilowatt turbine
at the West Side plant, also 2,500 h.
p. in boilers, &c., to take care of the
increasing demand on the company’s service.
Extent of Company’s Service May 1 1910 and 1909.
May i ’10.
May 1 ’09.
May 1 ’10.
May 1 ’09.
.
$10,600,000 $10,237,100
11,163,100
11,163,100
Surplus
1st
2d
[VOL. LXXXXI
.
„'sR> i
2
Sept. 10
1910.]
THE CHRONICLE
DIVIDENDS .—1 ’96. ’97. 98. ’99. ’00. ’01.
Common
}• __ __
-2
3
1H
Preferred
Jl
1
2
4^ 5
5
—V. 87, p. 1155.
’02 to ’05.
None.
5 yearly.
’06 to ’09. ’10.
4 yearly. 5
5 yearly. 5
Gulf & Inter-State By. of Texas.—Sale.—See Atchison
Topeka & Santa Fe Ry., V. 91, p. 588.—V. 84, p. 1366.
Gulf & Ship Island RR.—Year ending June 30:
Fiscal
Operating
Year—
Revenues.-
1909-10
$2,094,076
1,873,196
1908-09
Net (after
Taxes).
$648,190
404,761
Other
Interest,
Income. Sk.Fd.,&c.
$14,170
7,702
—V. 90, p. 447.
$371,021
407,805
Balance,
Surplus.
$291,339
4,658
International & Great Northern RR.—Sale
Postponed.—
Judge McCormick, in the United States Circuit Court at
Dallas, Tex., on Sept. 8, on application of the second mort¬
gage bondholders’ committee, adjourned the foreclosure sale
“from Sept. 15 to Oct. 6, or some later day to which the
sale may be again adjourned.”—V. 91, p. 589, 463.
Mattoon City (III.) Ry.—New Name.—Reorganized Com¬
pany.—This company filed at Springfield, Ill., on Aug. 25
a certificate changing its name to
Central Illinois Public
655
The new road is to connect the present lines and is to run from Westchester
Ave and 167th St. to East 169th St., to Franklin Ave., to 168th St., to
Webster Ave., to 167th St., to transverse road under the Grand Boulevard
and Concourse, to Jerome Ave.
The receiver is directed to keep a separate
account of all moneys expended In procuring the franchise and building the
extension, so that provision may he made in the decree of sale for payment
in cash by the purchaser of a sum equal to the amount expended by the
receiver therefor.—V. 90, p. 1297.
Wabash-Pittsburgh Terminal Co.—Suit Filed to Enforce
Traffic Agreement.—The receivers on Sept. 3 filed a suit in
the United States Circuit Court at Toledo, O., against the
Wabash and Wheeling & Lake Erie for an accounting under
the traffic and trackage agreement, by which the latter
undertook to pledge 25% of their gross earnings from traffic
interchanged to meet any deficiency of interest on the first
and second mortgage bonds.
Compare V. 91, p. 398, 277;
V. 90, p. 1103; V. 80, p. 1231, 2221.—V. 91, p. 398, 277.
West End Street Ry., Boston.—New Stock.—The share¬
holders will vote Sept. 14 upon the proposed increase of the
common stock by the issue of not exceeding 27,800
shares, of
the par value of $50 each.—V. 91, p. 155, 277.
Service Co.
The $160,000 refunding and extension mtge. bonds of 1906, due
1936,
have been canceled, leaving outstanding $300,000 1st M. 5s, but what new
securities, if any, will be issued is not stated.
Earnings for calendar year
1909: Gross, $116,963: net, $43,837: bond int., $16,000; bal., sur.,
$27,837.
M. E. Sampsell is President.
See “Electric Ry.” Section.—V. 88, p. 52.
Montreal Street Ry.—Proposed Amalgamation Terms.—
See Canadian Light & Power Co. under “Industrials” be¬
low.—V.
91, p. 589.
New York Central & Hudson River RR.—Purchase Ad¬
joining Pennsylvania Terminal in N. Y. City.—The company
has recently completed the purchase, for about
$1,000,000,
of the entire block bounded by 32d and 33d streets and 10th
and 11th avenues, just back of the
Pennsylvania RR. ter¬
minal, aside from a few scattered parcels not required), as a
site for a building' to cost about $500,000 to house the Adams
and American Express companies, now located in the Grand
Central terminal on Madison Ave.—Y. 91,
p. 337.
Norfolk Southern RR.—Earnings.—Marsden J.
Perry,
chairman of the reorganization committee of the old N. & S.
Railway and of the directors of the new company, has
compiled the following statement, showing fixed charges
they will be when reorganization is completed:
as
Year end.
Gross
Net RR. Lumb.Co.
Total
Int. &
Balance.
June 30.
Earnings.
Earns.
Net.
Net.11
Rentals.
Surplus,
1909-10
$2,690,479 $941,025 $235,707 $1,176,732 $525,000 $651,732
1908-09
2,417,321
752,789
120,526
873,715
525,000
348,315
The total net income as above ($1,176,732 In
1909-10, against $873,715),
amounts to 4.07% on the $16,000,000 stock of the new
company, against
2.18% in 1908-09.
The receivers between July 1 1908 and May 4 1910 re¬
duced operating ratio from 81% in 1908 to 65% in the recent fiscal
year.
Length of the road was increased from 580 to 602 miles.
No interest has
been paid since May 1908 on the old 1st & refunding bonds
($14,000,000
total Issue) deposited with the reorganization committee.
Stock in the
new company is being given in exchange for these bonds
at the rate of
$1,142 80 of stock for each bond.
By retiring this issue, fixed charges are
reduced about $600,000.—V. 90, p. 1554.
Pennsylvania RR —Tunnel Service to Long Island Begun.
—See remarks in “Financial Situation” on a
previous page.
—V.
91, p. 397, 337.
Rates.—Order Suspending Cancellation of
Through and
Joint Routes with “Tap” Lines.—The Inter-State Commerce
Commission on Sept. 6 issued an order suspending until Jan. 5
the proposed cancellation by various trunk lines of
routes and joint rates with “tap” lines or “feeders.”
through
The roals affected are principally in the Southern
yellow pine territory
and include practically all of those along the
Mississippi River in the South¬
west and running east and west.
Notice was given by them that the ex
lsting agreements referred to would be terminated on various dates.
The result would have been to increase rates from all
points on the “tap”
lines.
About 120 “tap” lines, It is stated, are affected
by the present order,
which Is directed against the Kansas
City Southern and other roads and will
be made more general later.
Altogether, it is said, some 800 or more
small roads are Interested in the matter.
The order suspending the proposed cancellations will affect
a large volume
of traffic and is regarded as the most
Important one issued by the Commis¬
sion since the general order suspending
freight advances on trunk-line roads.
A petition in what is regarded as a test case was filed on
*
Sept. 1 with the
Inter-State Commerce Commission by the Paragould &
Memphis Ry., a
line running from Manila. Ark., to Cardwell, Mo.,
about 30 miles, against
the St. Louis & San Francisco Ry., to
prevent the cancellation on Sept. 8
of joint rates heretofore in force from
points on the short line.
Some
time ago the Commission in a decision held that allowances on
through rates
made to tap lines were illegal and in the nature of
rebates, and prohibited
them In the future.
The proposed new “combination” rates are
alleged to be higher than the
through rates, and, it is claimed, will Injure the industries along the line
petitioner, which, it Is stated, is a bona fide corporation, acts as a
common carrier, reports to the
Commission, and is not owned by any Indus¬
try or Industries along Its line.
The petition alleges that the divisions
which the complainant has received cover
merely the cost of the service per¬
formed and that none of the divisions has
gone other than directly Into the
treasury of the company.—V. 91, p. 590, 520.
of the
Southern Indiana Ry.—Most of Securities
Deposited .—The
holders of most of the Southern Indiana
gen. M. bonds, Chi¬
cago Southern bonds and syndicate certificates have deposited
their holdings with the Girard Trust Co. of
Philadelphia
or the First Trust &
Savings Bank of Chicago, as
by the general reorganization committee
V. 91, p. 333, 337.
Tacoma Eastern
Operating
Operating
RR.—Report.—For
revenues
expenses
Taxes
Net oper. revenue
Outside operations (net)
Total income
.$545,860
343,098
25,426
177,335
9,316
186,651
requested
under the plan.—
year
end. June 30 ’10:
Deduct—
Hire of equipment
Interest on bonds
Int. on bills payable
U. S. Govt, excise tax
$24,645
44,200
50,065
421
Balance, surplus
67,320
Operating revenues; In year 1908-09, $360,520; expenses, $241,408; net,
$119,112, against $202,761 in 1909-10.—V. 89, p. 412.
Union Ry., New York.—Extension
Authorized.—Judge
Lacombe in the United States Circuit Court on
Sept. 6 made
order authorizing receiver Whitridge to
amount necessary, estimated at about $65,000,
extension in the Bronx.
an
expend the
to build an
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Snuff Co.—Second Extra Dividend.—A first extra
dividend of 2%, in addition to the regular quarterly disburse¬
ment of
5%, was paid July 1 1910 on the $11,001,700 common
stock, and now a second extra distribution of the same
amount is announced, payable, with the quarterly 5%,
on
Oct. l,to shareholders of record Sept. 15.
The regular 20%
annual rate (5% quarterly) has been maintained since
April 1909. Compare V. 90, p. 1492, 693.
Anaconda Copper Mining Co.—Bonds Called.—The Butte
& Boston Consolidated Mining Co. (controlled) has called all
of its outstanding $505,000 bonds dated 1897 for
payment
on Oct. 1 1910 at 105 at the Old
Colony Trust Co., Boston.
Parrot Resumes Dividends.—The directors of the Parrot
Copper & Silver Mining Co. have declared a dividend of 15
cents per $10 share (1^%), payable Sept. 26 to holdersof
record
Sept. 12.
This is the first dividend paid by the Parrot Co. since Sept. 1907.
Some
months ago the Anaconda Copper Mining Co. gave 90,000 of its own shares
(par $25) in exchange for the property of the Parrot; the 2% quarterly
dividend received on these shares now enables the Parrot to resume the
payment of dividends.
The Parrot has outstanding 229,850 shares of $10
each, of which the Amalgamated Copper Co. on Feb.14 1910 owned 115,299.
Dividend Record of Parrot Copper & Silver Mining Co. (Per Cent).
Year
’98. ’99. ’00. ’01. ’02. ’03. ’04. ’05. ’06. ’07.
’08-’09.
’10.
Per cent
18
39
60
45
5
0
10
20 12 ^ 7H
None
1H
(Compare Parrot report, V, 90, p. 1043).—V. 91, p. 216.
Bay Cities Home Telephone Co., San Francisco.—Consoli¬
dation—New Bonds.—This company, incorporated in Cali¬
fornia on June 29 1910 with $20,000,000 of authorized capital
stock, in $100 shares, took
over on or about Aug. 31 the prop¬
Telephone Co. of San Francisco (Y. 82,
p. 1443; V. 84, p. 1370) and the Home Telephone Co. of Ala¬
meda County, and has filed a mortgage to the
Anglo-Cali-
erties of the Home
fornia Trust Co.,as trustee, to secure an issueof $20,000,000
5% gold bonds.
Mr. Frick, the company’s attorney, is quoted as
saying: “The mortgages
held by the Union Trust Co. on the properties of the local Home Co. and
by the Mercantile Trust Co. on those or theAlameda Co. have been taken up.
Manager Hall says: “Up to date service on the main lines of the system
has been given on a one-half-rate rental, with a reservation
empowering
the company to charge the full rates of $2 50 for home
phones and $5 per
month for business firms.
The company has decided to exercise Its privilege
of charging full rates from Sept. 1. For selective [or
two-party service} the
rates are $1 50 for private homes and $3
per month for business firms.
“The company has now 8,500 services in
operation in Alameda County.
In San Francisco it has 18,000 subscribers.”
Bituminous Coal Companies.—Strike Settlement.—Press
dispatches announce the settlement of the coal miners’
strikes, both in Illinois and the Southwest.
In Illinois the men, it is stated, will
go to work Sept. 10, having been idle
for 23 weeks, The Peoria wage scale has been
with slight changes.
The new contract, it is reported, runs until adopted
April 1 1912 and involves a
general increase of 3c. a ton throughout the State, an increase of 5c. In the
northern fields and 6c. in Franklin and Williamson counties.
The output
of the mines Involved in the strike is understood to have
aggregated nearly
50,000,000 net tons per annum.
The Southwestern strike having lasted 5 H months, ended at
midnight
Sept. 8, when arbitration was agreed upon as regards future contracts.
The miners in Missouri, Kansas, Oklahoma and Arkansas
get as a result
an increase of 5M% in
wages, and agree to continue work for 60 days
pending the making of a new agreement.—V. 90, p. 1679, 916.
Canada Iron Corporation.—Report.—The annual report
for the year ended May 31 1910, it is reported,
shows net
earnings of $18,994, contrasting with $146,743 for the short
period ended May 31 1909. A Canadian paper says:
The company was unfortunate this year in having two disastrous fires
at Montreal and Three Rivers, which undoubtedy made serious inroads
Into profits.
The plant at Three Rivers has been reconstructed with a
view to doing the business formerly carried on at Montreal.
The company
has been proceeding with the additions and betterments to
plants and the
constructfon of new works outlined at time of merger.
When these are
completed, the returns will unquestionably be better than for the period
The steel works have all the rail business in sight that can be
just closed.
handled, and the same will undoubtedly be true of merchant mill when com¬
pleted.
The balance sheet shows outstanding bonds,
$2,920,000; pref. stock,
$2,909,000; common stock, $4,832,300; accounts and bills payable, $2,533,490, against $1,505,640 last year.—V. 90, p. 1427.
Canadian Light & Power Co.—Terms of Amalgamation.—
The “Financial Post” of Toronto
V. 91, p. 591):
on
Sept. 3 said (compare
The “Post” has been informed by a director of Canadian Power that the
terms of the merger will be as follows:
A holding company will be formed
with a capital of at least $50,000,000, and the shareholders of Montreal
Street will receive 4 M % debenture bonds (another account says mortgage
bonds—Ed. “Chronicle”), in proportion of $250 in bonds for each share of
Street, which will assure the present shareholders a larger return on their
money than at present.
In addition to this $250 worth of bonds. Street
shareholders will receive a bonus of common stock in the new company on
the basis of one-half share of new stock for every share In Street.
The
Canadian Power shareholders will reoeive in this bonus stock 150 shares for
every 100 shares of their present stock; they will, however, reoeive no deenture stock.
THE CHRONICLE
656
la order to carry out the plan there will have to be $25,000,000 debenture
stock (or bonds) to take care of Street Railway stock, as well as $5,000,000
cpmmbn stock for Street bonus. Canadian Power stock ($6,000,000) will
call for $0,000,000 common stock.
Street Railway Is tied up with Montreal Power for many years to come
i* an electric energy agreement, the capital of Power being $17,000,000 of
stock, selling around 130, and
over
$10,000,000 in bonds, which sell around
par.
The securities of the Montreal Street Ry. and
Light & Power Co. (compare V. 91, p. 591) are as
Montreal St, Auth'eed.
issued. I
Can. Liam A Power
Canadian
follows:
Sold.
Debens.AH%$4,420,000 $4,420,000 Bonds
Stock (paying
10%). ...>—18,000,000 10,000,0001
[On Aug. 30 1010 the Montreal Hydro-Electric Co. was
■
$4,000,000
6,000,000
Stock
incorporated
under the Canadian Companies’ Act with $10,000,000 stock in $100 shares,
its Incorporators being Edouard Fabre, Francis E. McKenna, William R.
Ford, Samuel T. Mains and Robert H. Teare.J—V. 91,“p. 591.
Cities Service Co.,
New York.—Plan.—Henry L. Doherty
Co., 60 Wall St., N. Y. City, the syndicate managers,
&
have sent a circular to the stockholders of the Denver Gas
Electric Co,, the Empire District Electric Co. and Spokane
Gas A Fuel Co. announcing (1) the incorporation under the
laws of Delaware on Sept. 2 1910 of the Cities Service Co.
holding company, with an authorized capital of $50,000,000, in shares of $100 each, to acquire stocks of gas,
electric, power and other similar companies, and (2) an
offer to give its stock in exchange for stock of said three
companies until Sept. 20 1910 on the basis below outlined.
The plan provides or shows in substance:
as a
CapUatisgtion of Cities Service Co. (Par of Stuires $100).
[Showing amounts now issuable 11 exchange is unanimous.]
Now Issuable.
Preferred Stock, 6% cumulative (preferred both as to assets and
Issuable In exchange on basis shown below
$7,779,650
Jnderwritten for cash (along with $500,000 common)
emalnder reserved for future requirements
$21,220,350
num StocM authorised and issued, $20,000,000—
Issuable In exchange on basis shown below
Underwritten for cash (along with $1,000,000 pref.)
_
l ,000,000
3,889,825
500,000
Compensation for banters and syndicate managers....
500,000
Set aside for such corporate uses as directors may
decide
$500,000
Remainder retained under proper restrictions for
future uses of company
14,610,175
Basis of Exchange on which the New Co. will Acquire Control of 3 Cos. Named.
...
Amount
For each $100 Share of—
Capital stock of Denver Gas A Electric Co
Common stock of Empire District Electric Co
Common stock of Spokane Gas & Fuel Co
Cities Sero.Co.
Outstanding. Pref.
$3,500,000 $180
1,759,300
2,000,000
50
30
Com.
$90
25
15
These terms were fixed after careful consideration and consultation with
majority In amount of the stockholders of the above-named companies.
The $1,000.000 of preferred stock and $500,000 of common stock has
been underwritten fpr $1,000.000 in cash, for the purpose of providing the
[According to the plan outlined last
company with ample Working capital.
a
month, by
which ft
was
proposed that the Gas & Electric Securities Co., In¬
corporated in Delaware on or about July 18 1910, with $2,000,000 capital
stock, should acquire the entire $2,000,000 common stock of the Spokane
Gas A Fuel Co., $1,000,000 of Securities Company preferred was offered
for subscription at par with a bonus of $400,000 In Securities Co. common;
$100,000 common was to go to the underwriters and a further $500,000 common to Doherty & Co.—Ed.]
Henry L. Doherty A Co. are to act as bankers and syndicate managers
and are to be paid for their services only in common stock. They are to
receive at this time $500,000 common stock and a sum equal to 10% of
such additional
common
stock
as
shall be issued from time to time for the
acquisition of additional properties other than those named above until
the aggregate received by them amounts to $1,000,000 par value.
When the stock of the Cities Service Co. shall have been issued, as ex¬
plained above, the stock outstanding will be $8,779,650 preferred and
$4,889,825 common.
Estimate of Earnings from the Three Properties Now Being Acquired.
1911.
Net earns, from properties._
Miscellaneous earnings
Total net
General expenses
1912.
1913.
1914.
$983,000 $1,260,000 $1,480,000 $1,690,000
60,000
60,000
60,000
60,000
$1,043,000 $1,320,000 $1,540,000 $1,750,000
30,000
30,000
30,000
30,000
of Cities Serv. Co_$l,013,000 $1,290,000 $1,510,000 $1,720,000
6% dividend on pref. stock.
526,779
526,779
526,779
526,779
Net
earns,
Earnings on common stock.. $486,221
$763,221
$983,221 $1,193,221
Per cent on common stock..
9.9
15.6
20.1
24.4
Note.—Net earnings for 1910 will show 5.8% on the common stock.
It is the Intention to pay quarterly dividends and to pay 3% ($146,694)
on the outstanding common stock from the date of Issue, and to increase
the dividend thereon at least 1% each year thereafter until 6% per annum
is paid.
Further increases in dividends above 6% in cash may be paid in
stock if then deemed advisable by the board.
After upon the payment
of the above rate of cash dividends on common stock, the accumulated
surplus earnings should equal $2,545,717, or 52% of the outstanding
$4,889,825 common stock at the close of the fourth year.
Description of Constituent Properties—Spokane Gas A Fuel Co.
This company controls the entire gas supply of Spokane, Wash., one
of the most progressive and rapidly growing cities in the Pacific Northwest.
Advance information of the 1910Census places the population at 112,000,
contrasting with only 36,842 in 1900. The opportunity for the develop¬
ment of gas sales Is exceptional, and the sales of gas after only a few months
of effort have been increased to more than 50% in excess of the correspond¬
ing period of last year. Franchise liberal and does not expire until 1945.
[Donerty & Co., It seems, had a contract whereby their firm was to receive
all of the common stock of the Spokane Gas & Fuel Co. for the development
and management of the property; the stock to be turned over to them as
absolute owners when the net earnings of the property for the preceding
12 months equaled 1 % times the Interest on outstanding bonds.—Ed.]
Doherty A Co's Estimate of Earnings for Spokane Gas A Fuel Co. Com. Stock.
[From earlier plan not In present circular.—Ed.]
1910.
1911.
$25,000
$74,200
1912.
1913.
1914.
1915
$95,000
$122,188
$166,485
$221,856
Empire District Electric Co.
This company supplies electric light and power in Joplin, Webb City and
Cartervllle, Mo., ana Galena, Kan., and the mining and manufacturing
territory adjacent to these cities, which is known as the Joplin or Empire
The territory served has a population of 100,000 people.
District.
The
company has Just completed a new 20,000 h.p. modern steam turbine plant,
which will enable it to take on a like amount of additional power and lighting
business at prices which will net very profitable returns.
There is no ques¬
tion about the market for this power, for there are more than 750 power
users, having approximately 150,000 h.p. In use in the mines and manu¬
factories adjacent to the transmission lines.
New power business is being
added to the company’s connected load at the rate of 1,500 h.p. per month
The franchises, except in three smaller towns, are unlimited as to time and
contain no burdensome restrictions.
(See a subsequent page; also V 89
p.
473, 595; V. 90, p. 112.)
Denver Gas A Electric Co.
This company supplies the city of Denver with gas and electricity for all
purposes. Denver is the sole trading centre for a large territory and has
increased in population from 133,000 In 1900 to 213,000 in 1910. It will,
in our judgment, continue to grow rapidly.
The relations of the company
to the general public are harmonious.
The company Is considered one of
the most progressive companies in this country.
Arrangements have been
made to provide ample means to pay the floating debt and to finance all
necessary improvements for some time to come.
(Compare annual report
on a
preceding page; also
p.
145 of “Ry. A Indus. Sec. —Ed.)
Some of the advantages of the association of such companies are:
(1) In¬
creased safety of combined investment; (2) savings In operation due to
economy on purchases, by experts and in large quantities, comparisons of
expenses ana methods, proficiency of employees, Ac.
We believe that the
securities of the Cities Service Co. will he distributed over a broad territory
and into the hands of a large number of investors.
SECURITIES TO REMAIN OUTSTANDING ON CONSTITUENT AND ALLIED
PROPERTIES (Compiled for "Chronicle”—Not in Official Circular).
Date. Authorised. Outstand'g.
Maturity,
a Denver Gas A El. Co. gold 5s
1903 $8,000,000 $6,056,850 May 1 1949
One-year coupon notes, 6s
(?)
1910
Sept. 6 1911
1,000,000
* Denver Cons. Gas Co. gold 6s.
936,600 Nov. 16 1911
1891
x Denver GaS A El. Lt. 1st A ref. 5s.. 1909
712,000 Nov. 11949
25,000,000
Laeombe Electric Co 1st M. 5s
900.000
1921
Empire District El. Oo. 6% cumula¬
tive pref. stock.
5500,000
3,000,000
Sinking fund 5s
.1909
6,000,000
1,925,000 Nov. 1 1949
Underlying bonds (see “y” below)
y345,000
Various
x Spring RIv.Pow. Co. 1st M. aer. 6S.1905
830.000 1911 to 1930
1,500,000
e Spokane Gas A Fuel pref. stk.,6%
300,000
300,000
x First A refunding M. 6s
760,000 Aug. 1 1944
1909
5,000,000
Union Gas Co. 1st M. 5s
1905
550,000 July 1 1935
1,000,000
_
a Callable May 1 1911 at 103, May 1912 at 104, May 1 1913 or any Interest day
thereafter at 105. b Redeemable at 120 and accrued dividends, x Callable at 105.
V These include $50,000 Mo. Ice A Cold Storage 5e of 1903, due April 11923; $47,000
S. W. Mo. Lt. Co. 6s, due $8,000 Feb. 1911 and $39,000 Feb. 1 1921, and $248,000
8. W. Mo. Lt. Oo. 5s of 1901 due Jan. 11926. t Cumulative after July 1912.
Columbus A Hocking Coal A Iron Co,—Further Deposits
Received for the Present.—The time for deposit of securities
under Hie reorganization plan expired on Sept. 7, but Hie
Bankers Trust Co. will continue to receive deposits for the
present, subject to approval of the committee. A large
majority of securities has been deposited, including practi¬
cally all the 2d mtge. bonds and preferred stock, nearly all
the first mtge. bonds and 75% of the common stock.
A modification of the plan may be made by the committee
before it is put into effect, due to objections raised by 1st M.
bondholders.
Holders of 1st and 2d mtge. bonds may be
offered, in addition to 75% of their holdings in new first
mtge. bonds, as called for by the original plan, 25% in either
pref. or common stock.—V. 91, p. 339, 216.
Denver Gas A Electric Co.—Plan-r-Guaranty of Laeombe
Bonds.—See Cities Service Co. above.
Gen. Mgr. Frank W. FrueaUff on
Sept. 2 said:
meeting of the directors of the Denver Gas A Electric Co., held
to-day, a resolution was passed guaranteeing the bonds of the Laeombe
Electric Co. [$900,000 of 5% bonds due 1921 but subject to call at a pre¬
mium; Interest M. A N. at International Trust Co., Denver, or Morton Trust
Co., N. Y.—Ed.], both as to principal and Interest.
These will eventually
be retired by the sale of bonds of the new company set aside for that pur¬
At
a
pose.
The basis of the offer made to the Denver stockholders by the Cities
Service Co. (see above) is as follows: For each share of Denver stock will
be given 1.8 shares of the 6% pref. stock, also 9-10 of one share of com. stock
of the Service Co., representing an Interest In future earnings of the holding
company, due to the large Increase In business and net earnings expected
at Spokane and Joplin and In other properties yet to be acquired by the
holding company. This offer does not mean a change In the Denver man¬
agement or Its policies, but will enable It to be financed through a group
of properties rather than Individually.
New Notes.—A New York
banking hotise is reported to be
placing at par $600,000 of an issue of $1,000,000 6% 1-year
coupon notes, dated Sept. 6 1910 and due Sept. 6 1911.
Report.—See “Annual Reports” on a preceding page.—
V. 91, p. 156, 41.
Denver (Golo.) Union Water Co.—City Votes Bonds for
Municipal Water Plant.—See “Denver” in “State and City”
department.—V. 90, p. 1616.
Empire District Electric Go., Joplin, Mo.—Control, &c.—
See Cities Service Co. above.
Status.—The “Ohio State Journal” of Columbus of Aug. 26
quotes a letter from President Doherty as follows:
When we formed the Empire District Electric Co., we had merely a con¬
tract for 57% of the [$1,500,000] stock of the Spring River Power Co.,
but we have since acquired not only this 57% of stock, but all but 118 shares
of the remaining 43%.
The first turbine unit In the new power house was
completed and ready to operate April 1, but the strike in the Kansas coal
fields prevented operation until just now. With the new plant in operation
there Is a saving of $40,000 a year in operating expenses.
Now that the
plant is In operation the new contracts are coming in at the rate of 1,000 h.p,
The district has a combined population of about 100,000 people,
a month.
and the minimum power used In the district even during the panic of 1907
exceeded 100,000 h.p., and our new plant, while large, is only 20,000 h.p.,
Compare V. 89,
so that there Is no danger of over-production of power.
p. 595, 473.—V. 90, p. 112.
Equitable Light A Power Go., San Francisco—Rond Issue.
which in August 1908 had $250,000 of auth.
cap. stock and was preparing to install in the Phelan Bldg.,
San Fran., 1,600 k. w. steam turbines, on May 28 1910 filed
—This company,
notice of the authorization of
a bonded debt of $750,000.
Office, Humboldt Bank Bldg., San Francisco.
Has same management as Consumers’ Light A Power Co., which at last
accounts had two 350 k. w. Westinghouse dynamos in Whitney Bldg.,
117 Geary St., San Fr.. its capitalization being $100,000 each of stock and
bonds.
Pres., Fred. G. Cartwright; Vioe-Pres. and Treas., James Fisher;
Sec., Fay C. Beal, all of
San Francisco.
General Chemical Go., New York.—Option to Subscribe
a
for First Pref. Stock of Gen. Chem. Co. of California, Ex¬
changeable % for $ for Pref. 6% Stock of General Chemical Co.
Untu Oct. 1 1920.—All stockholders, both preferred and
common of record Sept. 15, are offered the privilege of pur¬
chasing at par ($100 a share) the entire issue of $1,250,000
first pref. stock of General Chemical Co. of Cal. to the extent
of 6% of their respective holdings, said stock to be convert¬
ible at option of holders on any date fixed for the payment
of a dividend, prior to and including Oct. 1 1920, for pref.
stock of the General Chemical Co. (the parent company),
share for share.
Subscriptions must be paid in full at the
Par
Title Guarantee & Trust Co. in New York on or before Oct. 1
1910.
The new stock certificates will be issued on and after
Oct. 15 1910.
Fractional holdings can be adjusted through
the trust company.
Payments may be made on or before
Oct. 15 by adding 7% interest from Oct. 1. Treasurer
James L. Morgan, in a circular dated Sept. 1 1910, says:
Sept. 10
1910.]
THE CHRONICLE
657
The General Chemical Co. of California, a corporation recently organized
under the laws of New York (V. #1, p. 279), has acquired and now owns
the principal chemical works on the Pacific Coast, being the new plant at
E. R. Downs, O. R. Allen, M. L. Allen, John Davis and F. K. Struve—V. 89, p. 415.
ness known as the Peyton Chemical Co.
The new company has the ex¬
clusive territorial right to the General Chemical Co’s Inventions free from
plan,
Bay Point, Contra Costa County, Cal., and the neighboring plant and busi¬
royalty.
Capital Stock, of General Chemical Co. of California (in $100 Shares).
First pref. cumulative 7% stock, pref. as to dividends and assets,
but without voting power as long as full dividends are paid;
total amount authorized and Issued
$1,250,000
Common stock; total amount authorized and Issued
1,500,000
Second pref. 7% cumulative stock, which will share dividends
with the common stock after the common receives 7 %.
This
stock is to be Issued only as additional capital may be needed.. 1,000,000
The new company has no mortgage debt.
Its quick assets largely ex¬
ceed Its total liabilities.
For the past five years the net earnings of the
Peyton Co. alone have been more than sufficient to pay the full 7% dividend
on the first pref. stock.
Your company now owns outright the entire
authorized Issue of first pref. stock above-described and the controlling
Interest In the common stock and the sole right to take 2d pref. stock at par
If and when additional capital shall be required.
In view of your company’s Interest In the success of the California cor¬
poration, your board or directors has determined, as previously intimated,
that the privilege of participating directly and with preference In the capi¬
talization and earnings of the new company should be extended to stock¬
holders of your company on favorable terms.—V. 91, p. 279, 399.
General Motors Co.,
New York.—One-Year Loan.—Antici¬
pating the possibility of an over-production of automobiles
during the coming year, the management, it is understood,
has adopted a policy of retrenchment as to extensions and
output. The “Wall Street Journal” yesterday said:
Rumors that the General Motors Co. has sold a $5,000,000 issue of 5%
(or 6%) notes of the Bulek Co. at 85 to a syndicate of New York bankers
denied In quarters well laformed on automobile financing.
Arrange¬
ments have been made by the General Motors Co. with Its bankers in
several cities to consolidate and extend its present credit for one year, also
to Issue new capital to the extent of some $1,000,000 If needed.
Some
$2,500,000 notes have been given by the company to secure the banks in
this arrangement, stocks of General Motors’ subsidiaries being deposited
as collateral.
It is denied that New York banks have participated In
the arrangement.
are
Status
of Subsidiary.—The “Chicago Economist” reports:
Financial Status of Buick Motor Co. of Flint, Mich., July 1 1910.
Assets (total $17,445,984)—
Liabilities
(showing net
net
balance
Plants, machinery, Ac—$5,484,846
$10,429,952)
Indebtedness
Material, finished and in
to
banks,
less
cash
.$2,379,814
process
_
9,884,128
Bills and accts. receivable,
Bills and accts. payable,
.
ind. amounts due
from Gen. Motors Co.
not
not inch
_
....
Goldfield Consolidated
Mines.—Dividends
Paid.—Com¬
plete record (cents):
1907
1908
Oct. Nor.
Yr.
Regular (cents)..
10
Extra (cents)
—V. 91, p. 339. 212.
10
0
1909
Apr. July.
30
30
vote.
as
Oklahoma Gas & Electric Co.—Dividend Increased.—A
quarterly dividend of 2% has been declared on the common
stock, payable Sej)t. 15 to holders of record Aug. 31, com¬
paring with 1 y2% in June last and 1*4%quarterly from June
1909 to March 1910, inclusive.—V. 89, p. 1486.
Passaic Structural Steel Co., Paterson, N. J.—Assessment.
—T. H. Conderman, 407 Walnut St., Philadelphia, Chairman
of the committee which in November last bid in the property
of the old Passaic Steel Co. for $400,000 on behalf of,the
holders of deposited bonds (aggregating, it is said, some
$1,600,000 of the total amount of bonds issued, about $2,000,000), announces an assessment of 15%, or $150, on each
$1,000 bond, payable Sept. 7. The “Philadelphia News
Bureau” of Sept. 6 said:
Seventy to eighty thousand dollars in taxes, together with the receivers’
and courts’ fees, were charged against the property and it is to complete
the liquidation of these debts that the present assessment has been called.
The successor company is known as the Passaic Structural Steel Co. and
has heed
operated since Jan. 1, but not at fun capacity. [F. C.;Reinhart
Barclay Cook Sec.-Treas.p—V. 89, p. 1487.
is Pres, and I.
Rockingham Power Co.—Sale Oct. 5.—The reorganization
committee consisting of Franklin Q. Brown, T. 0. duPont,
Edwin F. Greene, C. N. Mason and Waldo Newcomer (with
D. H. Thomas, 31 Pine St. N. Y. City, as Secretary) gives
notice that the committee will sell, by Adrian H. Muller &
Son, auctioneers, at public auction on Oct. & 1910,at 14 and
16 Vesey St., N. Y. City, all the real and personal property
formerly belonging to the company acquired by said com¬
mittee at foreclosure sale July 14 1909.
The upset price
is $1,000,000.
The sale was authorized by the depositing
bondholders on July 20, in view of the inability of the com¬
mittee to arrange a satisfactory reorganization plan.
General Motors
Co. or constituents
4,636,198
or constituents
2,076,990 Total
_l$7,016,01;
Cars under construction by Buick Motor Co. July 1:
3,545 machines at
$1,000 each, $3,545,000; 2,500 machines at $450 each, $1,125,000; 1,000
light delivery trucks at $700 each, $700,000; total, $5,370,000; less cost of
material and labor to complete, $700,000; total, $4,670,000.
Finished
cars (additional), 3,461, valued at $3,336,000.—V. 91, p. 592.
■
(Ala.) Electric Co.—Plan Approved.—The final
suggested, went through without a dissenting
See particulars in V. 91, p. 521.
Mobile
—1910
(pay.onSlst)-
Oct. Jan. Apr. July.
30
30
20
30
20
30
20
Oct.
30
20
Intercontinental Rubber Co., New York.—First Dividend
Common Stock.—The directors on Tuesday declared an
initial dividend of 1% on the $29,031,000 common stock
outstanding, payable Nov. 1 on stock of record Oct. 15; also
on
the
lng of said Hens having
an entirety, subject to- the Hen, if any, of S.
and accrued interest, and the lien, if any, of
968 and Interest, determination as to the standn reserved by the Court.
Mortgage.—The mortgage made about a year ago by the
reorganization committee to the Old Colony Trust Co. of
Boston, as trustee, to secure an issue of $160,000 bonds, has
been filed.
Of the bonds $150,000 were deposited with the
committee and used by it towards the purchase of the
property at foreclosure sale.—V. 89, p. 533.
Sapulpa (Okla.) Electric Co.—Purchase.—This company,
which operates the central station business at Sapulpa, Okla.,
has passed under the control of H. M. Byllesby & Co. of Chi¬
cago, which firm will hereafter operate and manage the
property. An authoritative statement says:
The electric-lighting and power system at
Sapulpa Is
new,
but in the-
gast
has been
able
toproceed
serve only
abouttoone-half
thek.w.
Immediate
demands.
yllesby
& Co.
will
at once
Install aof500
generating
unit,
win more than double the capacity at the station.
Located In the
regular quarterly dividend No. 3, 1on the pref. which
heart of the oil and gas-producing fields of Oklahoma, a rapid and healthy
stock, payable Oct. 1 to holders of record Sept. 22. (Com¬ growth In the population of Sapulpa Is believed to be assured. According
to the Federal Census, Sapulpa has a population of 8,383, representing a
pare V. 90, p. 562, 1428.)
of nearly 100% since the State Census was taken In 1907.
[The capi¬
Retirement of $1,150,000 Additional Preferred Stock—Only gain
talization of the company at last accounts was $150,000 stock and $120,000$2,000,000 Left.—'The directors voted on May 20 to retire bonds.—Ed.]
pro rata 25% ($1,050,000) of the outstanding ($4,200,000)
Southern Iron & Steel Co.—Collateral Notes and Deben-r
7% cum. pref. stock at par and accrued interest on or before tures.—The company, it is announced, has arranged to ob¬
Aug. 10. On Sept. 6 they ratified the purchase in the open tain $800,000 additional working capital through the sale of
market of a further $150,000, and authorized the retirement
(a) $600,000 one-year 6% notes of $3,000 each, dated Sept. 1
of an additional $1,000,000, leaving only
$2,000,000 pref. 1910, secured by pledge of $1,000,000 “first and refunding
outstanding.—V. 91, p. 156.
mortgage” 20-year bonds and (b) of $200,000 6% convertible
International Water Co., £1 Paso, Tex.—City Bonds Ac¬ debenture bonds of $1,000 each, dated Feb. 1 1910.
Early In the year the shareholders authorized an Issue of $1,200,000 6%
cepted for Plant.—See “El Paso” in State and City Depart¬
5-year convertible gold debentures dated Feb.l 1910 and due Feb. 1 1915,.
ment.—V. 89, p. 1545, 723.
but subject to oall at option at 105 and Int. on four weeks’ notice, and con¬
vertible at option of holder Into pref. stock at the price of $60 [not $70
Lacombe Electric Co., Denver.—Guaranty of Bonds.—See as
first proposed.—Ed.] per $100 share.
The debentures are issuable
Denver Gas & Electric Co. above.—V. 88, p. 1259.
only upon deposit with the trustee of sufficient pref. stock to provide for
the conversion of each, and the dividends paid on pref. stock so deposited
Laurentide Paper Go., Grand Mere, Que.—Dividend In¬ are to be used as a sinking fund for the
redemption of the debentures.
crease.—A quarterly dividend of 2% has been declared on Including the present Issue, the entire $1,200,000 of these, debentures Is
now outstanding.
not
They
were
offered
to the shareholders as at first
the common stock, payable on or about Oct. 1, thus increas¬ Intended.
Compare V. 90, p. 695. 703, 774.
Under the plan of reorganization (V. 86, p. 1288) there was created an
ing the annual rate from 7% to 8%. Beginning with May
issue of $10,000,000 “1st & refunding mtge. gold bonds” of $1,000 each,
1909 the distributions, theretofore 3J^% s. a., were
changed dated Oct. 1 1909 and due Oct. 1 1929, but subject to call at i05 and int.;
to l%% quar.
Interest rate 4% for 4 years, thereafter 5%.
Trustee, U. S. Mtge. & Trust
Compare V. 89, p. 667.—V. 91, p. 467.
Co.
Of these
$6,810,000 have heretofore been issued, $1,000,000'
Lower Yakima Irrigation Co., Richland, Benton Co.» are pledged tobonds,
secure the aforesaid notes, $314,000 are reserved for fu¬
Wash.—Bonds Offered.—The Davis & Struve Bond Co.> ture extensions and additions to 75% of cost, and the remaining $1,876,000
are Issuable
only on retirement of the following underlying bonds: $908,000
Seattle, are offering at par and int., $100,000 7% gold bonds, Georgia Steel
Co. 1st 5s, due Oct. 1 1926 but callable at 105; $375,000
the unsold portion of the present issue of $300,000
Lacey-Buek 1st M. gold 6s, due $25,000 yearly, Jan. 1 1911 to 1925, and
purchased $593,000 Chatt. Iron & Coal Co. 1st M. 6s. due Jan. 1 1926.—V. 91, p. 407.
by them early in the year. Total auth., $350,000. Dated
Spokane (Wash.) Gas < Fuel Co.- -Plan.—See Cities
Jan. 15 1910 and due serially on Jan. 15 1912 to 1920, 2
Service Co. above.—V. 79,
2700.
series of $15,000, 2 of $20,000, then
successively, $30,000,
Standard
$40,000, $50,000, $60,000 and $100,000, but any portion
Cordage Co. — Referee’s Report Favors Disso¬
redeemable on or after Jan. 15 1913 at 105 and int. Central lution.—Jerome Hess, who was appointed as referee by the
Trust Co. of Seattle, trustee.
Int. J. & J. 15 at Seattle Nat. State Supreme Court, on Thursday filed his report favoring
the granting of the application to dissolve the company.
Bank.
A circular says that the bonds cover:
A complete gravity irrigation plant located at Richland In Benton Co..
Compare V. 90, p. 1048.—V. 90, p. 1428.
Wash.; In the Yakima ana Columbia River Valleys, consisting of the dam
United States Realty & Improvement Co.—Earnings.—
and Intake at Horn Rapids on the Yakima River; 24 H miles of main canal
and 25 miles of laterals and distributing ditches.
For the quarter ending July 31:
Total present value,
$215,000; improvements and extensions under
_
way, $110,000; 3,000 acres
of fertile land on the Columbia River, to be sold, $600,000; 7% contracts
for unpaid portions of purchase price of lands already sold, deposited with
the trustee (at least 25% paid on each purchase), $400,000; 4,900 acres
of excess water at $100, $490,000; interest in sale of 345.66 acres of land
(valued at $105,398) and 345 lots In Richland (valued at $70,900). $77,800;
other assets, $10,000; total, $1,902,800.
From the proceeds of these bonds It Is proposed to make sundry
Improve¬
ments, build 1 H miles of main canal and i2 miles of laterals, Install pumping
plant to irrigate about 2,000 acres of the company’s land which lies above
the present ditch, Ac., to pay purchase price ($65,000) of land bought
under contract (already paid); retire old bond issue, $80,000 (cash for this
purpose was deposited with trustee under old mortgage at time of executing
new bonds, and a large portion already canceled), and pay floating debt,
about $30,000.
The capital stock is $150,000.
All held by M. E. Downs,
1910.
Gross earnings. .$847,194
Deduct—
Int. on mtge8.,
bills and accts.$169,700
Managem’t exp. 119,345
—V. 91, p. 158.
1909.
1910.
1909.
deben’s. .$160,000
$166,050
Dividends (1 X%)202,035 (1)161,628
$777,031 Int.
on
Total deduc’ns $641,080
$164,783
94,681 Surplus
$206,114
Westchester Lighting Co.,
$587,145
$189,885
New York.—Gross Earnings
Appeals re¬
cently held (92 N. E. Reporter 230) that, under the amend¬
ment of 1907 to the statute (186 of the Tax Law) imposing
an annual tax of 5-40 of 1%
“upon the gross earnings from
Tax Decision.—The New York State Court of
THE CHRONICLE
658
all
within this State” of
“every corporation” . . .
electric or steam
heating, lighting or power purposes,” the State is entitled
to include in “gross earnings” amounts representing “cost
of raw materials converted into gas and electric current*”
1
sources
^Western Gas Improvement Co.—Guaranteed Collateral
Offered.—Chas. S. Kidder & Co., 184 La Salle St.,
Chicago, are placing at par and int. $100,000 6% guaranteed
collateral trust gold notes, dated March 1 1910 and due
Notes
1 1915, but redeemable on any int. date at 101 and int.
Sept.
Pnn.
and semi-annual int.
Illinois, Chicago.
payable at Central Trust Co. of
Par, $500 (c*). A circular says:
Organized under laws of Maine. [Incorp. Nov. 11 1908; auth. stock then
$750,000 com. and $250,000 pref.
Par $100.] Owns all of cap. stock of El
Paso Gas & Electric Co. of El Paso, Tex.
These notes are a direct obllga
tlon of the company and are further secured by the deposit of $100,000 first
pref. 10% cum. capital stock of the El Paso Gas & Electric Co., and are
guaranteed, prln. and Int., by endorsement on each note by the El Paso
Gas & Electric Co.
The El Paso Gas & El. Co. has outstanding $250,000
common stock, $250,000 6% pref. stock, $100,000 10% first pref. stock
and $500,000 1st M. 6% bonds, due In 1934 and optional In 1914 (see V. 82,
P. 1381; V. 83, p. 754; V. 90, p. 852).
Earnings, El Paso G. AEl.Co. (1909 injaceo) 10% Reduction in Price of Gas)
1906.
1907. '
1908.
1909.
1910 (est.).
Gross earnings.
$82,535
$160,891
$177,124
$178,996 Not stated.
Net (after tax.)
$40,850
$57,119
$85,000
$64,668
$68,101
Gas sold, CU. ft. 44,936,800 73,153,900 88,003,900 95,420,800 115,000,000
The El Paso Gas & Elec. Co. has
a
charter from the State of Texas author¬
izing It to operate In the cities of El Paso and Juarez for a term of 50 years
from 1904.
Has a monopoly of the artificial gas business In these cities
under 40-year franchises from 1904, permitting a charge of $1 50 net per
1,000 cubic feet of gas, but the charge Is now only $1 40 net.
The company
owns: Two city blocks; electric station, capacity of 50,000 k. w. per month;
a new modern coal and duplicate water-gas plant, capacity 500,000 cu. ft.
per day; two gas-holders, together containing 260,000 cu. ft.; over 48 miles
of mains; 4,178 meters, over 3,180 stoves and 1,302 gas arcs.
The business
Is Increasing rapidly and the management estimates the output for 1910 at
115,000,000 cu. ft.
The surplus earnings for the last five years have been
Invested In the property, Increasing the already large Investment made by
the owners In addition to the bonded debt.
The management Is In the
hands of George F. Goodnow, consulting engineer for the Dawes syndicate.
White River Light & Power Co., Noblesville, Ind.—Re¬
ceiver’s Certificates.—Receiver Ralph H. Beaton (appointed
July 2 1910 by Circuit Court of Hamilton County) has been
authorized by the Court to issue $100,000 receiver’s certifi¬
cates to provide for the completion of
connection with the company’s proposed
the dam for use in
hydro-electric plant.
The company was formerly known as the Noblesville Hydraulic Co.
Its capitalization is $300,000 stock and $150,000 bonds.
Of the bonds
$100,800 have been sold and the remainder pledged as collateral. Coupons
in default about $1,200.
Officers pr
prior to receivership: Pres., Elwood
McGuire of Richmond, Ind,; Vlce-Pres., Ralph H. Beaton, Columbus, O.;
Sec., J. C. Jones, and Treasurer, W. E. Dunn, Noblesville, Ind. The
Noblesville Heat, Light & Power Co. (stock and bonds each $50,000) Is a
distinct corporation, with T. C. McReynolds of Kokomo as President.
.
Wilkes-Barre Company.—Consolidation—New
Bonds.—
This company, mentioned in the report of the Susquehanna
Railway, Light & Power Co. as controlled by that corpora¬
Reports” on a preceding page), was in¬
corporated last June under the laws of Pennsylvania, with
.$1,500,000 capital stock, all outstanding, and an authorized
issue of $7,500,000 “first & refunding mortgage” 5% bonds,
of which $1,547,300 are outstanding (guaranteed principal
and interest by the Susquehanna Railway, Light & Power
Co.), covering its entire property, including the plants,
franchises, &c., which were acquired outright from the
Wilkes-Barre Gas & Electric Co. (compare V. 89, p. 1356),
Wilkes-Barre Heat, Light & Motor Co., Anthracite Electric
Light, Heat & Power Co., Standard Electric Co. and Union
Light & Power Co., all operating in and around WilkesBarre, Pa.
tion (see “Annual
The
new bonds are dated July 1 1910 and will mature July 1 1960, but
subject to call till 1912 at par and Int.: thereafter at 105 and int. Par
$1,000, $500 and $100.
Int. payable J. & J. at Girard Trust Co., Phlla.,
are
trustee.
Of the authorized issue, $3,000,000 Is reserved to retire the same
of the Wilkes-Barre Gas & Electric Co. Bonds
stated, were given for the stocks of the old com¬
panies. Pres., W. H. Conyngham; Sec., A. S. Minor; Treas., J. N. Thomp¬
son.
Office, 40 Wall St., New York.
amount of existing bonds
of the new company, it Is
Wilkes-Barre (Pa.) Gas & Electric Oo.—Merger .—See
Wilkes-Barre Company above.—V. 90, p. 1107.
—William Salomon & Co. have issued a market letter under
date of Sept. 8, in which they say: “There seems to be rea¬
sonable ground for the belief that the forces which have thus
far resulted in moderate improvement will continue to fa¬
vorably affect the investment market. Underlying conditions
are now developing are of a nature which should create
a large surplus of money and low interest rates.
The attitude
of bankers and business men indicates a general realization
of the need for greater conservatism, and the
tendency to¬
wards expansion of business activity has been in a great
measure arrested.
The floating supply of standard invest¬
ment bonds at the present time we believe to be
compara¬
tively small, and any substantial increase in the supply of
floating capital seeking investment will undoubtedly be re¬
flected in a considerable improvement in prices. It should
also be noted that the railroads are apparently not inclined
to make large appropriations for new
construction, &c. This
policy should result in a smaller amount of new issues which
the market would be required to absorb.”
which
—“Poor’s Manual of Railroads” for 1910 (43rd
annual
number) is issued. / It contains 2,685 pages of text and is
about 25% larger than the 1909 edition.
LXXXXI.
Commercial ^xmcs.
‘formed for supplying water or gas or for
It was contended that, In spite of the amendment, the statute still limits
receipts for the purposes of taxation to such as result from the employment
of 4‘capital,” as distinguished from receipts representing replacement of
capital, but It was held that the company was not entitled, under the statute
as It now reads, to deduct from gross earnings the amount thereof expended
during year for raw material to be converted into gas and electric current.
The Court says that the statute provides for taxing “gross earnings from
all sources," and adds that this means “all receipts from the employment
of capital without deduction,” Including all which the use of the company’s
capital originated—V. 89, p. 103.
[VOL.
COMMERCIAL EPITOME.
Friday Night, Sept. 9 1910.
There has been moderate expansion in the general volume
of business.
Declines in cotton and other leading staples
have had a stimulating influence.
Record crops of corn and
oats result in general betterment.
LARD has been decidedly slow at a further advance.
The light supply and the strong hog situation continue as
the chief features.
Prime Western 12.90c., Middle Western
12.50@12.60c. Refined has been extremely dull and also
stronger. Refined Continent 13.10c., South American
13.75c., Brazil in kegs 14.75c. There has been almost no
life in the local speculative market.
Trading in the West
has been fairly active and prices are higher under buying
by packers and shorts, prompted mainly by the strength
in hogs and reports of a better cash trade.
DAILY CLOSING PRICES OF LARD FUTURES IN
Wed.
Sat.
Mon.
Tues.
12.25
September delivery
Holl- 12.40
12.35
11.10
January delivery
11.05
day. 11.10
NEW YORK.
Thurs.
12.45
11.15
Fri.
12.60
11.19
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Fri.
Sa.
Tues.
Wed.
Thurs.
Mon.
12.27 y* 12.35
September delivery
October delivery
12.25
Holi¬
12.17)4 12.27)4 12.32)4
12.25
November delivery
11.70
11.62)4 11.67)4 11.70
11.75
day.
10.75
January delivery
10.77)4
PORK has been steady at old
prices, the meagre stocks
being a serious hindrance to business. Mess $24 50@$25,
family $25@$25 50, clear $22 25@$23 75. Beef was a
fraction stronger at one time,with a fair business, but later
receded, with trading moderate. Mess $15@$16, packet
$17@$17 50, family $19@$19 50, extra India mess $30 50@
$31.
Cut meats have been firm, with buyers holding off.
Pickled hams, regular, 143^@l5^c.; pickled bellies, clear,
163^@ 17c., pickled ribs 173^@18c. Tallow has been quiet
at an advance to 7 z/ic. for City.
Stearines quiet but rather
firmer;
oleo 11c., lard 13 3^ @ 14c.
oh choice
31c.
grades, which
Butter quiet but firm
are in small receipt; creamery extras
Cheese has eased off a trifle on indifferent buying;
State, whole milk, colored or white, fancy, 15c. Eggs quiet
but firmly held; Western firsts 23@24c.
OIL.—Linseed has advanced strongly with fair demand;
City, raw, American seed, 94@95c., boiled 95@96c., Cal¬
cutta, raw, 97c. Cottonseed has been strong on light sup¬
plies and advance in crude; winter ll@12c., summer white
10 @ 12c.
Lard has been strong on small offerings and
advance in crude material; prime 95c.@$1 00; No. 1 extra
61@63c. Cocoanut strong on scarcity; Cochin 10^@llc.,
Ceylon 93^c. Olive firmly held at 85@90c. Cod firmly
held and in good demand; domestic 40@42c.; Newfoundland
43@45c.
COFFEE has been fairly active, advancing strongly early
in the week, with a partial recession in the late trading. -Bull¬
ish ideas as to the situation in Brazil, accompanied by a
strong statistical position, led to active buying. The spot
market has been strong, with demand active and holders in
some cases inclined to withdraw offerings.
Rio No. 7, 10^
@10^c.;“SantosNo. 4,113^@H34C- Mild grades have been
in good demand, especially for local account; fair to good
Cucuta, ll^@12c. Closing prices were as follows:
8.45
February —8.49
January
March
8.54
April
8.57
>8.50 May
>8.52 June
>8.55 July
>8.59 August
8.59@8.60
8.60@8.62
8.62@8.64
8.63@8.64
September __8.20@8:30
October
8.25@8.35
November __8.35@8.40
December __8.40@8.45
SUGAR.—Raw has been rather easier and fairly active
Centrifugal, 96-degrees test, 4.36c.; musco¬
vado, 89-degrees test, 3.86c.; molasses, 89-degrees test,
3.61c.
Refined was active early, owing to cut prices, but
later became quieter.
Granulated 5.15c. Teas have been
more active in spite of continued firmness.
Spices have
been firm, with moderate stocks and good demand.
Wool
firm and in better demand. Hops slow and sparingly offered.
PETROLEUM.—Lower prices failed to stimulate better
buying of refined for domestic account, but export business
is fair.
Refined, barrels, 7.50c.; bulk 4c., cases 10.90c.
Gasoline steady; 86 degrees in 100-gallon drums 18
drums $8 50 extra.
Naphtha firm and active; 73 to 76 de¬
grees in 100-gallon drums 16%c.; drums $8 50 extra.
Spirits
of turpentine quiet and rather easier; 743^c.
Rosin quiet
and firmer, with $6 15 asked for common to good strained.
TOBACCO.—The market continues quiet, but greater
activity is predicted for the near future and hence holders
at the decline.
.
firm in their views. It is claimed that manufacturers
will be forced to show more interest in the new leaf in a short
time.
Harvesting of the new crop is making progress and
are
reports are generally satisfactory, especially from
Connecticut.
Cuban tobacco is attracting more attention
and Sumatra is being taken by cigar manufacturers for
current needs.
COPPER.—Prices show no change in spite of inactive
crop
demand; lake 12^@12%c., electrolytic 123^@12.55c., cast¬
ing 1234@12|Hic. Lead has been dull but well sustained at
4.40@4.50c.Spelter has been quiet at a further advance;
spot 5.40@5.50c. Tin irregular and easier; spot, 35.55@
35.60c.
Iron has been fairly active at times, but prices
have ,1 not been encouraging.
The output continues to
diminish., No. 1 Northern $16@$16 25, No. 2 Southern
$15 25@$15 75. Finished goods have been affected hy the
Idwer iron prices.
to be pending.
A better export business in rails is said
Sept. 10 1910. |
THE CHRONICLE
COTTON.
On Shipboard, Not Cleared for—
Sept. 9 at—
Great
Britain. France
Friday Nighty Sept. 9 1910.
THE MOVEMENT OF THE CROP
indicated by our
telegrams from the South to-night is given below. For the
week
65ft
Ger¬
many.
Other
Foreign
Coast¬
wise.
Leaving
Total.
Stock.
as
New Orleans._
ending this evening the total receipts have reached
95,064 bales, against
86,130 bales last week and 56,579
bales the previous week, making the total
receipts since
Sept. 1 1910 123,040 bales, against 197,960 bales
for the same period of 1909, showing a decrease since
Sept. 1 1910 of 74,920 bales.
Galveston
Savannah
Charleston
Mobile
Norfolk
New York
Other ports—
13,195
Total 1910..
Total 1909..
Total 1908—
16,745
6,048
15,561
623
347
3,063
7,789
1,274
7,681
664
2,908
33,928
2,200
-
_
-
-
-
12,290
20,289
13,251
-
700
—
150
-----
150
1,322
344
_
-
3,500
1,000
1,300
100
300
150
9,536
26,499
16,278
9,450
17,312
15,628
50
4,686
13,250
11,184
—
—
-
-
-
—
—
6,100
300
101,304
4,639
43,386
69,497
65,260
154,139
214,378
-
—
3,014
6,388
6,609
183,203
Speculation in cotton for future delivery has been on a
larger scale and the market has become a much broader
affair, the outside public manifesting more interest. The
Galveston
17,081
6,017 18,208 11,010 10,453 15,069 77,838
net result of the week's trading is a loss ranging from about
Port Arthur
Corp. Chrlstl, &c
10 points on September to about 30 on May.
349
349
Early in the
New Orleans
209
104
62
188
330
269
1,162
week the market was decidedly weaker, and at one time
Mobile
44
142
198
196
68
84
732
Pensacola
prices were down fully 50 points. Prompted by reports of
Jacksonville, &c.
rains in Texas, in some places amounting to
Savannah
748
1,349
from 1 to 5
1,239
4,844
2,352
3,633 14,165
Brunswick
inches, the bear crowd made a strong drive.at the market.
Charleston
17
3
1
3
44
287
355
They were also encouraged in part by reports that showers
Georgetown
had fallen in the Eastern belt and checked the
Wilmington
7
21
1
29
shedding.
Norfolk
14
6
75
23
36
154
On the other hand, poor reports were received from
N’port News, dec.
Georgia
and Alabama, and the lateness of the crop in many
New York
200
200
sections
Boston
i
caused many to fear serious loss in the event of
1
Baltimore
early frost.
79
79
Still, the bears were assisted in their attack by houses with
Philadelphia
Southern connections, who were again selling hedges
against
Total this week 18,714
7,512 19,299 16,441 13,291
19,807 95.064
the actual cotton bought in the South.
The break caused by
The following shows the week's total
receipts, the total these combined offerings carried the market down to a level
since Sept. 1 1910, and the stocks
to-night, compared with where stop-loss orders were encountered, and these, of course,
last year:
only quickened the drop. During mid-week there was a
temporary rally
While cables were disappointing and crop
1910.
1909.
Stock.
reports
as a rule favorable, including reports of more show¬
Receipts to
ers in Texas, there was some bad news from the
This
Sept. 9.
Since Sep
This
Since Sep
Mississippi
week.
1 1910.
week.
1 1909.
1910.
Valley, where weevil damage was said to be growing serious.
1909.
Moreover, Liverpool reported better spot sales, and it was
Galveston
77,838
102,748 55,051
72,187
54,217
69,325
Port Arthur
noted here that a good class of buying
developed when prices
Corp. Christ!, &c_
349
349
2,368
2,666
were near the low levels.
New Orleans
Spinners,
it
was said, were good
1,162
1,251
7,446
7,753
15,198
35,166
Mobile
732
806
buyers on the breaks. By some it was claimed that the spin¬
4,554
5,088
1,472
7,702
Pensacola
ners wanted to avoid a
Jacksonville, &c_
repetition of their experience last sea¬
55
55
Savannah
when a shortage m stocks late in the crop year
son,
14,165
16,859 55,972
77,107
13,251
63,516
Brunswick
3,905
forced
them
5,355
to
2,021
5,410
pay
much higher prices. Hence it
Charleston
355
407
11,153
12,506
700
9,084
was
stated
that many of them were now
Georgetown
anticipating future
29
Wilmington
30
9,690
117
10,031
Vo,464 needs. Following this brief rally, the declining trend was
Norfolk
154
210
4.443
3,619
344
6,003
resumed under a renewal of the bear
Newport News,&c
38
185
attack, further hedge
New York
200
200
107,404
selling and more liquidation by longs. There was talk of an
70,889
Boston
1
101
218
297
1,441
3,020
extension of the time set for curtailment of
Baltimore
79
79
128
128
consumption and
815
2,037
this was partly responsible for the increased
Philadelphia
159
159
545
1,259
selling; but the
chief influence was the first
Total..
ginning report from the Census
95,064
123,040 154,356
197,960
197.525
283.875
Bureau.
Believers in lower prices claimed that this was
In order that comparison
may be made with other years, bearish on the ground that the ginning in Texas was much
we give below the totals at
heavier than last year.
leading ports for six seasons:
Still, others pointed out that the
report was really bullish, inasmuch as very little ginning
Receipts at1910.
was done in other
1909.
1908.
1907.
1906.
1905.
States, the total ginned being 32,500
bales less than a year ago, showing
Galveston
77,838
55,051
clearly the lateness of
67,539
33,470
73,860
76,689
Pt. Arthur, &c.
the crop in most of the States.
349
2,368
148
427
546
To-day a good part of the
New Orleans.
1,162
7,446
7,068
4,432
loss was recovered.
17,727
10,902
Those who had succeeded in
Mobile
732
depressing
4,554
3,294
1,759
3,808
5,778
the market early in the week
Savannah
14,165
55,972
41,060
41,178
33,010
attempted
to cover and found
76,697
Brunswick
3,905
the offerings decidedly
3,186
279
4,867
inadequate to supply their demand,
Charleston, &c
355
11,153
4,283
6,429
3,848
11,954
as well as a more active demand from
29
Wilmington..
9,690
1,914
6,732
1,842
spinners from Liver¬
14,239
Norfolk
154
3,619
1,851
2,393
1,870
11,713
pool and the South. Shorts were frightened in part by pre¬
N’port N.f &c
38
155
264
99
107
dictions that the hurricane
All others
560
280
1,770
236
hovering over the West Indies
2,751
2,186
would soon reach this
country
and seriously damage the
Total this wk_
95,064
154,356
128,934
100,227
139,521
215,738
cotton crop.
In addition. Southern markets were firmer
Since Sept. 1.
and receipts outside of Texas are small.
123,040
197,960
181,165
140,195
212,582
387.189
Mills were re¬
as buying and talk of further curtailment was ridi¬
ported
The exports for the week
ending this evening reach a total culed.
of 97,794 bales, of which
30,613 were to Great Britain,
The rates on and off
14,197 to France and 52,984 to the rest of the Continent.
middling, as established Nov. 17 1909
by
the Revision Committee, at which grades other than
Below are the exports for the week and since
Sept. 1 1910:
middling may be delivered on contract, are as follows:
Receipts at—
Sat.
Mon.
Tues.
Wed.
—
-
-
-
-
-
-
-
„
„
^
—
-
Fri.
Total.
-
'
-
Thurs.
_
1
8
5
.
. 18819
_
„
-
^
-
-
-
..
-
-
-
-
-
-
-
-
-
-
-
-
_
_
_
_
—
—
....
—
—
—
.
_
—
Exports
from—
ending Sept. 9 1910.
Exported to—
Great
Conti¬
Britain. Fr’nce. nent.
Galveston
Port Arthur...
Corp.Chris., <fcc
New Orleans.^
Mobile.......
13,168
_
-
-
-
37.921
_
-
-----
-
-
-
-
Great
Britain
Total.
51,089
9 1910.
Conti¬
France.
13,168
Total.
nent.
93
37,921
51,182
6,064
7,360
c.1.50 on (Middling
Basis IGood mid. tinged.c Even
c_
Strict mid. fair—1.30 on(striet low. mid
0.25 oft (Strict mid. tinged..0.15 off
Middling fair
1.10 on(Low middling
0.60 off (Middling tinged.__0.25 off
Strict good mid
0.66 on(Strlct good ord
1.05 off (Strict low.Mid.ting.0.60 off
Good middling
0.44 on (Good ordinary
..1.75 off (Low mid. tinged.-.1.50 off
Strict middling... .0 22 on (strict g’d mid.
tgd.0.35 on (Middling stained.. .0.75 off
The official quotation for
middling upland cotton in the
New York market each day for the
past week has been:
.
1,296
6,0l4
.
7.310
1,296
....
-
Fernandlna
Fair
From Sept. 1 1910 to Sept
Exported to—
— -
-
-
-
—
—
-<,----
-----
Sept. 3 to Sept. 9—
Middling uplands
_
Brunswick....
Charleston
50
^
-
-
—
—
—
—
_
Wilmington
‘
„
Norfolk
V,
-r
«
'
Newport News
New York....
Boston
10,133 14,197
16
......
,r-
■
Baltimore
Philadelphia..
Portland, Me..
-----
-
-
-
-
-
-
212
228
2,150
2,150
5,787
16
36,117
212
-r
228
2,150
•
.
2,150
•
-
-
-
*
----
-
v-w-
-----
----
-
800
100
;■
..
800
100
800
100
.
-
•
800
100
'
_
;
------
/
*—
-
,
9.5241
-
4.892 32,185, 46.601
J~
I V
_
V
•
TI
V
.
-
.
30,613
Is
14,290
14,115 15,307 V;
53,084
; 97,987
44,837fe'74.259-
1886_c__i.. 9.25
*10.00^ v
1884
.10.88
1883..10.12
1882
__i._12.81
12.75
Spot Market
.
.
ti
Futures
1879_
—_
—'-12J38 V
Consum'n.
Spot.
v
T"?"
>
»■
Contract.[
Con¬
tract^ Total,
rr—r;
HOLIDAY V—
Monday
HOLIDAY iit-u
Tuesday
Quiet, 75 pts. dec.. Steady. _:V
Wednesday Quiet, 10 pts. de<V_ Finn
Thursday Dull, 15 pts, deci.i^ Steady. ii_
Ftlday—
Vpry steady
Saturday.
^—i...
Sales Of Spot and
Market.
Closed
.
Closed.
.
T
m
i
•*> W
—
16“740
—
th^ following amounts of cotton on shipboard, not
cleared, at; the sports named:1 ; We add similar figures ior
NeW-Yorkt1urvd
a, ci'
.»n *?n?-rvv-u *:
give
us
liiii
si
lev-
...
—
i-ji
t.
*
j
C
*
"r t r - *
-V
^
A. *-j
A
p
J 'i,.
•iri
* * *> <'
k
I
••
5*
/
-
3.468
saihr. :-q
\
.
fAir
r*- r ^
■
* 7 ~-
16,740
16,084
600
3,468
•
36,892
-1. i
i
16,084
V‘ 600 j
.—.
_
i
;
1880.il —-.11.69*
....-
V
.*
on
MARKET AND SALES AT NEW YORK.
'
30,613 14497 52.984 97.794
r-
,
14.00
8.88 1894.C
; 6.94
1901j*
8.62 1893.______ 8,12
1900
10.12 1892
7.19
1899.
6.44 1891_^_____ 8.75
1898_--^._i 5.81 1890.......10.62
1905..____.10.85 1897._
7.50
11.38
1904.1...U .11.00 1896....i
8.75
10.44
1903....
..12.25 1895.
8.38 1887___^.^10.12
■
-
Fri.
14.00
12.65
9.30
.13.05
1906____.__ 9.80
?
-
Thurs.
14.15
1909
1908
1907_._
•
^
^^
Total 1909-i.-
14,197
"
Portland, Ore.
Total.—.
-
16,133
'
San Francisco.
Seattle
Tacoma
Pembina
Detroit.
-
-
5,787 36,117
Wed.
14.25
19l0_c_.___ 14.60 1902.C.....
V_
•
Tues.
H.
:
50
_
—
Mon.
H.
NEW YORK QUOTATIONS FOR 32 YEARS. '
The quotations for middling
upland at New York
Sept. 9 for each of the past 32 years have been as follows:
_.
Savannah
Sat.
■
Week
—
36,682
and closing prices at
follows:
FUTURES.—The highest, lowest
New York the past week have been as
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AT THE INTERIOR TOWNS the movement—that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
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[VOL.
THE CHRONICLE
660
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fe.
THE VISIBLE SUPPLY OF COTTON to-night, as
made up by cable and telegraph, is as follows.
Foreign
stocks, as well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete fig¬
for to-night (Friday), we add the item of exports
from the United States, including in it the exports of Friday
only.
ures
September 9—
Stock at Liverpool
Stock at London
bales.
—
1909.
1908.
781,000
13,000
49,000
334,000
12,000
35,000
1907.
664,000
29,000
46,000
12,000
4,000
4,000
843,000
12,000
92,000
133,000
3,000
19,000
11,000
4,000
.372,000
25,000
128,000
62,000
4,000
16,000
13,000
18,000
739,000
20,000
100,000
103,000
4,000
15,000
18,000
38,000
141,000
274,000
266,000
298,000
326,000
11,000
Total Great Britain stocks
46,000
62.000
Stock at Bremen
Stock
Stock
Stock
Stock
1910.
299,000
6.000
21,000
2,000
at Marseilles.
at Barcelona
at Genoa....
at Trieste
467,000 1,117,000
70.000
49,000
176,638
119,190
24,000
23,000
35,000
41,000
394,000
158,000
283,875
197,525
61 006
106,869
59
5,619
Total European stocks
India cotton afloat for Europe
Amer. cotton afloat for Europe,.
Egypt, Brazil, &c,,aflt. for Europe.
Stock In Alexandria, Egypt
Stock In Bombay, India
Stock In U. S. ports
Stock In U. S. Interior towns
U. S. exports to-day
647,000 1,037,000
57,000
124,000
77,218
164,757
21,000
18,000
20,000
53,000
485,000
364,000
243,463
308,857
101,611
133,120
4,626
12,364
1,424,228 1,904,553 1,689,966 2,187,050
Of the above, totals of American and other descriptions are as
American—
Liverpool stock.
Manchester stock
Continental stock
American afloat for Europe
U. S. port stocks
U. S. Interior stocks
U. S. exports to-day
216,000
16,000
105,000
bales.
176,638
197,525
61,006
59
686,000
36,000
236,000
119,190
283,875
106,869
5,619
232,000
25,000
199,000
164,757
248,463
133,120
4,626
555,000
43,000
200,000
77,218
308,857
101.611
12,364
772,228 1,473,553 1,006,966 1,298,050
83,000
6 000
5,000
36,000
70,000
23,000
Egypt, Brazil, &c., afloat
Stock In Alexandria, Egypt
35,000
394,000
.
95,000
13,000
13,000
38,000
49,000
24,000
41,000
158,000
102,000
12,000
10,000
67,000
57,000
18,000
53,000
364,000
109,000
29,000
3,000
98,000
124,000
21,000
20,000
485,000
683,000
652,000
431,000
889,000
772,228 1,473,553 1,006,966 1,298.050
.
.
week last year.
OVERLAND
MOVEMENT
FOR THE
WEEK AND
SINCE SEPT. 1.—We give below a statement showing
the overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday night.
The results
for the week and since Sept. 1 in the last two years are as
follows:
1909
1910
Sept. 9—
Via St. Louis
Via Cairo
Via Rock Island.
_.
-
Clncli
Via Vlrgli
Shipments
O verland to N. Y., Boston, &c.
Between lnterU
Inland, &c., fr<
Sept. 1.
1,280
Week.
552
100
324
172
530
254
242
111
173
420
670
111
228
40
520
685
2,324
3,212
2,664
3.836
280
146
380
146
584
173
1,475
2,198
505
173
541
1,024
1,901
2,724
1,219
1,781
423
423
488
1,445
2,055
1,111
Total to be deducted
__
Leaving total net overland*
*
Including movement by rail to Canada.
-1910-
Spinners'
Takipgs.
Week.
Receipts at ports to Sept. 9
95,064
Net overland to Sept. 9
423
Southern consumption to Sept. 9. 28,000
In Sight and
Interior stocks In excess
123,487
8,965
....
-1909Sincs
Since
Week.
37,000
154,356
1,445
52,000
Sept. 1
197,960
2 .055
78,000
160,528
10,228
207,801
23,420
278.015
23,706
Sept. 1.
132,040
488
132,452
Total visible supply
Middling Upland, Liverpool
Middling Upland, New York
.
Continental imports for the past week have been 15,000
bales.
»The above figures for 1910 show a decrease from last week
of 46,280
crease
bales
bales, a loss of 480,325 bales from 1909, a de¬
of 265,738 bales from 1908, and a decline of 762,822
over
1907.
*
The foregoing shows the week’s net overland movement
has been 423 bales, .against 1,445 bales for the week
last year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 1,567 bales.
231,221
170,756
1,424,22) 1,904,553 1,689,966 2,187,050
6.83d.
7.10d
8.03d.
5.47d.
14.00c.
12.75c.
9.40c.
12.80c.
Egypt, Good Brown, Liverpool..
13**d. 10 3-16d.
8 7-16d. 11 l-16d.
Peruvian. Rou7» Good, Liverpool 10.75d.
8.35d.
8.70d.
12 OOd.
Broach, Fine, Liverpool.
5d.
7^d.
6 5-16d.
654d.
rinnevellv, Good, Il-^no l._
6 1 lOd.
,
7 l-16d
*$d
5 15-lt1;..
Sept. 1
1,250
1,002
Week.
527
552
100
324
122
461
238
Deduct
follows:
East Indian, Brazil, <fec.-
London stock
Manchester stock.
The above totals show that the interior stocks have in¬
creased during the week 8,965 bales and are to-night 45,863
bales less than at the same time last year.
The receipts
at all the towns have been 5,973 bales less than the same
>
31,619
Movement into sight
in previous
Week—
Bales.
1908—Sept. 12
1907—Sept. 13
1906—Sept. 14.
19.05—Sept. 15
31,619
301,721
18,320
28,265
years:
Since Sept.
1—
185,931 1908—Sept. 12.
163,588 1907—Sept. 13
210,420 1906—Sept. 14
239,403 1905—Sept.
15
Bales.
262,542
254,324
337,926
.535,266
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.—Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
\
>
Sept. 10
THE CHRONICLE
1910.J
Closing Quotations for Middling Cotton
on—
Week
ending
Sept. 0.
Sat'day.
13 %
14 %
Galveston
New Orleans
Mobile
Savannah
Charleston
HOLI-
-
-
_
Philadelphia
Augusta
Memphis
St- Louis
__
DAY.
-
.
.
Houston
Little Rock
13%
13 H
13 %
13%
13 %
13 %
14 %
14
Wilmington
Norfolk
Baltimore
Monday. Tuesday. Wed'day. Thursd’y.
14%
14%
14
13 %
13 %
13 %
13%
13%
13%
13
13J*
13%
UH
13%
14
13%
13%
13%
13%
14^
13%
14%
14.40
13
14
14 %
13 %
13 %
14.25
15
14.50
13 %
14 %
14 %
13 %
1H%
Friday.
lowest 68.
Ardmore, Oklahoma.—There has been rain on one day
of the week, the rainfall being
inch.
The thermometer has
67 to 103.
13 %
14 %
14.25
13 %
13%
13%
13%
an
September—
Range
_
.
Sept. 5.
13%
13%
13%
13 7-16
64 to 100.
13%
Alexandria, Louisiana.—It has rained on one day of the
week, the precipitation reaching thirty-one hundredths of
an inch.
The thermometer has ranged from 70 to 98,
averaging 84.
New Orleans, Louisiana.—There has been rain on twro days
the past week.
The rainfall reached fifty-nine hundredths
of an inch.
The thermometer has averaged 85, the highest
being 95. and the lowest 75.
Columbus, Mississippi.—We have had no rain during the
week.
The thermometer has averaged 83, the highest being
Friday,
Sept. 9.
13.10.37 13.00.11 13.05.10 13.11.26
13.13 — 13.14-.16 13.05-.07 13.23 —
.
Closing
October—
Range
Closing
12.83.13 12.71.91 12.76-.90 12.82-.98
12.85.86 12.90.91 12.80.81 12.97.98
November—
Range
@
~
12.80
—
—
Closing
—
@
—
—
@
—
®
—
—
12.85.87 12.76-.78 12.93.95
December—
12.84-.12 12.72-92 12.76.90 12.83.98
12.85.86 12.90.91 12.81-.82 12.97-.98
Range
Closing
January—
Range
HOLIDAY.
_
ClosingFebruary—
Range
HOLIDAY.
12.88-.14 12.75-.96 12.81-.93 12.87-.03
12.89-.90 12.94.95 12.85.86 13.02.03
-
@
—
—
<$>
—
—
@
—
C osfng
March—
12.94-.8C 12.99-.00 12.90.93 13.07-.09
Range
Closing
13.00-.30 12.91-.07 12.94-.07 13.30.16
13.03.04 13.07-.09 12.99-.00 13.15-.16
A pril—
Range
Closing
@ ~
(3 —
@ ~
@ —
13.08.10 13.12.14 13.03 .05 13.22.24
—
-
—
—
-
May—
Range
Closing
13.19.26 13.06-.23 13.09 .20
® —
13.17.19 13.22.23 13.10-.13 13.26-.28
—
Tone—
Spot
Options
Easy.
Steady.
Easy.
Quiet.
Quiet.
Steady.
Steady.
Firm.
EGYPTIAN COTTON CROP.—Mr. Fr. Jac. Andres, Inc.,
of Boston has the following from Alexandria under various
dates:
Aug. 20.—The favorable accounts of the growing
crop continue,
although
the 18th general fogs were reported throughout the Delta and on the
18th In the Behera Province.
Furthermore, the reappearance of the cot¬
ton worms in Behera and Dakalleh are causing some apprehensions.
We have the following cables from four of our correspondents In reply to
Inquiry concerning the crop: Aug. 81—“Crop prospects decidedly worse.
Damp weather causing shedding and serious damage.
General opinion Is
that crop Is doing well, but, should damage be confirmed, we
expect general
covering of oversold accounts and rapid advance.
Upper Egyptian re,
on
celpts show undesirable staple.”
Sept. 1—“Slight damage reported,
owing to fogs. Very Insignificant shedding of bolls.” Sept. 1—“Crop
prospects are very good."
Sept. 2—“Crop Is reported damaged by shed¬
The general estimate of the crop Is 6,500,000.
We attach some Im¬
portance to this report.’’
ding.
WEATHER REPORTS BY TELEGRAPH.—Advices to
us
past week, the rainfall being ninety-one hundredths of
The thermometer has averaged 82, ranging from
inch.
14
Tuesday, Wed’day, Thursd’y,
Sept. 6.
Sept. 7. Sept. 8.
Monday,
ninety-five hundredths of an
averaged 85, ranging from
Oklahoma, Oklahoma.—We have had rain on three days
the
NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat’day,
Sept. 3.
Weatherford, Texas.—Rain has fallen on one day of the
week, to the extent of sixty-six hundredths of an inch. The
thermometer has averaged 84, the highest being 100 and the
by telegraph this evening from the South denote that in
the main favorable weather has prevailed during the week.
In some sections where moisture was needed beneficial rains
have fallen, and elsewhere the crop as a whole is
well.
doing
Picking, favored by the weather, is making good progress,
but the movement of cotton to market is as yet quite mod¬
erate.
Galveston, Texas.—There has been rain on four days during
the week, the rainfall reaching sixty-nine hundredths of an
inch.
The thermometer has averaged 82, the highest being
88 and the lowest 76.
Abilene, Texas.—Rain has fallen on two days the past
week, the rainfall reaching one inch and forty hundredths.
Thermometer has averaged 82, ranging from 66 to 98.
Brenham, Texas.—There has been light rain on two days
during the week, to the extent of six hundredths of an inch.
The thermometer has ranged from 74 to 100, averaging
87.
Cuero, Texas.—It has rained on three days of the week,
the rainfall being forty-six hundredths of an inch.
Average
thermometer 85, highest 100, lowest 70.
Dallas, Texas.—There -has been heavy rain on one day of
the week, the precipitation reaching two inches and
fortyeight hundredths. The thermometer has averaged 86, the
highest being 102 and the lowest 69.
Henrietta, Texas.—There has been rain on three days dur¬
ing The week, the rainfall reaching forty-five hundredths of
an inch.
The thermometer has averaged 85, ranging from
67 to 103.
Longview, Texas.—There has been rain on one day of the
week, the rainfall being thirty hundredths of an inch. The
thermometer has averaged 87, ranging from 73 to 100.
Luling, Texas.—Dry all the week. The thermometer has
ranged from 72 to 99, averaging 86.
Nacogdoches, Texas.—'There has been light rain on one day
during the week, the precipitation being twenty-three hun¬
dredths of an inch.
Average thermometer 83, highest 97,
99 and the lowest 66.
Vicksburg, Mississippi.—We have had rain on two days
the past week, the rainfall being sixty-four hundredths of an
inch.
The thermometer has ranged from 69 to 92, aver¬
aging 82.
Shveveport, Louisiana.—Rain has fallen on two days of
the week, the rainfall reaching seventeen hundredths of an
inch.
The thermometer has averaged 84, ranging from
72 to 96.
Eldorado, Arkansas.—We have had rain on three days
during the week, the rainfall being twelve hundredths of an
inch.
The thermometer has ranged from 69 to 95, aver¬
aging 82.
Fort Smith, Arkansas.—Rain has fallen on two days of
the week.
The rainfall reached ninety-eight hundredths of
an inch.
Average thermometer 81, highest 94, lowest 68.
Helena, Arkansas.—Crops look well; there is but very little
complaint. First bale received yesterday. It has rained
on two days of the week, to the extent of twenty-four hun¬
dredths of an inch; more rain in the neighborhood.
The
thermometer has averaged 81.2, the highest being 93 and
the lowest 71.
Little Rock, Arkansas.—There has been rain on two days
of the past week, the rainfall reaching one inch and fifty
hundredths.
The thermometer has averaged 80, ranging
from 68 to 92.
Memphis, Tennessee.—Crop late, but is progressing favor¬
ably. Cotton is beginning to open. There has been rain
on two days during the week, the rainfall reaching forty-two
hundredths of an inch. Average theremometer 81, highest
94, lowest 70.
Nashville, Tennessee.—Cotton is late in this section. There
has been rain on three days during the week, the precipitat ion
reaching fifteen hundredths of an inch. The thermometer
has averaged 80, the highest being 91 and the lowest 70.
Mobile, Alabama.—Weather in most sections of the in¬
terior hot and dry.
Considerable crop deterioration is re¬
ported in some sections. Reports spotted and generally less
favorable.
Cotton picking and movement making slow
progress on account of hot weather and late season. Rain
has fallen on three days of the past week, the rainfall reaching
twenty hundredths of an inch. The thermometer has aver¬
aged 85, ranging from 75 to 95.
Montgomery, Alabama.—Fine weather for gathering the
crop.
It has rained on four days of the week, the precipi¬
tation
reaching twenty hundredths of
inch.
The ther¬
Atlanta, Georgia.—There has been rain on two
the week, the precipitation being twenty-three
of an inch.
Average thermometer 81, highest
est 69.
days during
hundredths
92 and low¬
mometer has
an
ranged from 71 to 95, averaging 81.
Selma, Alabama.—We have had rain on three days of the
past week, the rainfall being one inch and forty hundredths.
Average thermometer 80.5, highest 93, lowest 71.
Madison, Florida.—Rain has fallen very lightly on one day
of the week.
The thermometer has averaged 83, ranging
from 71 to 95.
Augusta, Georgia.—There has been rain on two days of
week, the precipitation being thirty-four hundredths of
an inch.
Thermometer has averaged 83, highest being 96
the
and lowest 71.
Savannah, Georgia.—Rain has fallen on two days of the
week, the rainfall reaching thirty hundredths of an inch.
The thermometer has averaged 86, ranging from 73 to 99.
Charleston, South Carolina.—Rain has fallen on three days
during
the wreek, the rainfall reaching forty-one hundredths
of an
lowest 69.
inch.
Average thermometer 84, highest 95,- lowest 73.
Greenville, South Carolina.—Rain has fallen on three days
of the week, the rainfall being one inch and ten hundredths.
The thermometer has averaged 80, the highest being 91 and
Palestine, Texas.—There has been light rain on one day
of the week, the precipitation
reaching four hundredths of an
inch.
The thermometer has averaged 85, the highest being
have had rain on two days during the
ing one inch and six hundredths.
96 and the lowest 74.
Taylor, Texas.—It has rained lightly on two days of the
week, the precipitation being ten hundredths of an inch.
Average thermometer 84, highest 96, lowest 72.
the lowest 68.
Charlotte, North Carolina.—Cotton opening rapidly. We
week, the rainfall reach¬
The thermometer has
averaged 79, the highest being 90 and the lowest 68.
Greensboro, North Carolina.—The week's rainfall has been
two inches and seventy hundredths, on three days.
The
thermometer has averaged 78, ranging from 65 to 91.
THE CHRONICLE
662
WORLD’S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings
Week and Season
Visible supply Sept. 2
1,470,508
Visible supply Sept. 1
American In sight to Sept. 9
132,452
Bombay receipts to Sept. 8
6,000
Other India snlp’ts to Sept. 8._
8,000
Alexandrla receipts to Sept. 7__
1,000
Other supply to Sept. 7*_
3,000
Total supply.
Week.
Season.
Week.
1,901,327
1,495,514
170,756
6,000
8,000
1,000
3,000
231,221
2,000
6,000
1,000
1,931,022
301,721
2,000
8,000
1,000
2,000
3.000
2,246,743
1,684,270 2,143,548
1,620,960
readers,
Season.
,
Sept. 9.
1,424,228
Total takings to Sept. 9.
Of which American
Of which other
19
•
1,424,228 1,904,553
1,904,553
238.995
342.190
282.190
60,000
260,042
192,042
68,000
196.732
154.732
42,000
197.995
41,000
Embraces receipts in Europe from Brazil. Smyrna, West
COTTON
we
Indies, Ac.
give below
table showing the amount of cotton
of the cotton season
similar results for
a
which came into sight during each month
1909-10.
For purposes of comparison
the three preceding years are appended.
Months.
September
_
October....
November.
December
_
_
Deduct—
Visible supply
LX XXXI.
AMOUNT IN SIGHT.—Supplementary to our Annual
Cotton Crop Report, and at the request of a number of
1909.
1910.
.
January
February
_
__
March
April
May
June
July
August
1909-10.
1908-09.
1907-08.
1,427,506
2,485,095
1,923,771
1,333,084
866,870
534,429
509,011
457,115
340,976
249,431
235,320
278,643
1,276,257
2,466,322
2,542,850
2,284,139
1,434,091
981,135
718,419
868,888
1,807,538
1,921,462
2,003,975
1,554,094
969,101
700,586
467,218
349,952
366,261
290,709
319,143
£37,098
Additions.®
606,086
549,648
345,035
285,020
329,919
9,925
9,710
1906-07.
1,019,761
2,301,208
2,368.003
2.219,638
1,751,608
1,200,056
957,256
589,157
400,638
244,842
212,635
255,854
30,104
DISTRIBUTION AND
Total crop.
10,650.961 13,828,846 13,581,829 13,550,760
MANUFACTURE.—Our Annual Cotton Crop and Spinners’
a “Additions” include all corrections In port receipts and overland made
the close of the season, as well as the excess In Southern consumption
Report, which we have prepared so many years, we give at
as shown by the actual results.
This total Is Increased or decreased by
to-day in the editorial columns of the “Chronicle.” The Interior town
stocks,
k Deductions.
report covers, as usual: (1) Our elaborate compilation of the
SHIPPING NEWS.—As shown on a previous page, the
yield of cotton in the United States for the year ending
exports of cotton from the United States the past week have
August 31 1910; (2) an exhaustive history of the cotton¬ reached 97,794 bales. The shipments in detail, as made
spinning industry of the United States for the same year; up from mail and
telegraphic returns, are as follows:
(3) a similar review of the production of cotton goods in
Total bales.
NEW
YORK—To
Liverpool—Sept. 2—Baltic, 9,900; Caronia, 3,014
Europe; (4) complete and detailed statements for a long
upland, 19 foreign
12,933
series of years of the consumption of cotton and the pro¬
To Manchester—Sept. 2—Calderon, 2,450
2,450
To Hull—Sept. 7—Idaho, 750
duction of cotton goods by the mills of the United States,
750
To
PRODUCTION,
Havre—Sept.
Great
Britain, the Continent, and a briefer notice of the con¬
sumption and production of every other minor manufacturing
State; (5) elaborate compilations of cotton supply and dis¬
tribution, besides divers other matters connected with and
throwing light upon the yield and uses of the staple—past,
present and prospective.
THIS WEEK’S ISSUE OF THE “CHRONICLE” con¬
tains our annual “Cotton Crop Review” and in this con¬
nection we publish the cards of a number of the leading dry
goods commission merchants and mill selling-agents in the
country. Those represented are—
WOODWARD, BALDWIN & CO.,
FLEITMANN A CO.,
CATLIN A CO.,
L. F. DOMMERICH A CO.,
WILLIAM WHITMAN A CO.,
BLISS, FABYAN A CO.,
TEXTILE COMMISSION CO.,
FARBER-DREWRY CO.
LAWRENCE A CO.,
WILLIAM ISELIN A CO.,
G. A. STAFFORD A CO.,
HARDING, TILTON A CO.,
Since
Week.
Bombay
6,000
1908.
Since
Sept. 1.
Week.
6,000
2,000
For the Week.
Since
Week.
Sept. 1.
2,000
Sept. 1.
3,000
5,000
Great
Britain.
....
....
17,000
1,000
1,000
6,000
7,000 24,000
Japan
nent.
& China.
1,0 30
1,000
...
1,000
2,000
6,000
i‘,6oo
212
97,794
....
1909
1908
....
....
Total all1910
1909
1908
....
1,000
....
....
Sales, American
Actual export
_
12,000!
1,000
5,000
13,000
Mld.Upl’ds
1,000
Y.ooo
1,000
2,000
1,000
2,000
1,000
2,000
7,000
5,000
7,000
7,000
5,000
7,000
7,000
7,000
10,000
7,000
7,000
10,000
25,000
7,000
16,000
7,000 32,000
8,000
MANCHESTER
MARKET.—Our
25,000
12,000
7,000
32,000
13,000
25,000!
1,000
26.000
received
report
by
cable to-night from Manchester states that the market is
firm for both yarns shirtings.
Merchants are not willing
to pay present prices.
We give the prices for to-day be¬
low and leave those for previous weeks of this and last year
for comparison:
1910.
d.
1909.
8N R>s. Shirt¬
ings, common
to finest.
32s Cop
Twist.
d.
s.
d.
8.
d.
Cot’n
Mid.
Upl's
d.
8H lbs. Shirt¬
ings, common
32s Cop
Twist.
to
d.
d.
s.
finest.
d.
10N
ION
@
@
11N 5
11N 5
11N 5
11N 5
5N@10 6
@10 7
7.97 8N
8.16 9N
@
@
9N
6
6
6
@10 7
@10 7N
@10 7N
6N@10 8
8.07
8.31
8.26
8.14
@
@
@
9N
9N
9N
9N
6
7.97
6
Cot’n
Mid.
Upl’s
s.
d.
10N
@
ION
10N
@
26
10N
@
UN 5
UN 5
10N
@
llN
10N
@
UN 5
@
9
9
9N
9 3-16 @
Sept
2
9
5
@10 8
5N@10 7N
9 5-16
@
8.03 9 7-16 @
4 10
@9
9N 4 10N@9
2
3
6.48
6.73
4 10
@9
4 10
@9
4 10N@9
4 11
@9
2
2
3
4
6.69
6.72
6 67
6.73
5
5
6
6.88
6.83
10
10N 5
0
1
@9
@9
_
_
__
.
_
.
Sept. 9.
52,000
1,000
1,000
Sept. 2.
8,000
6,000
5,000
41,000
1,000
39,000
331,000
244,000
29,000
18,000
54,000
33,000
44.000
1,000
62,000
299,000
216,000
30,000
23,000
67,000
41,000
for spots and futures
daily closing prices of
Saturday.
Monday.
Tuesday.
Quiet.
Good
demand.
Good
demand.
Friday.
%ednesday. Thursday.
Sales
1
J
....
Quieter.
Irregular.
7.93
7.93
7.93
7.86
7.86
8.03
7,000
10,000
10,000
12,000
12,000
6,000
400
600
500
500
500
500
Spec.&exp.
Futures.
Market
1
Good
demand.
Quiet at
1@2 pts.
Quiet, unch.
to 2 pts.
decline.
decline.
opened
J
Market
4
P. M.
1 Quiet, Npt.
\ adv. to 3N
J pts. dec.
Quiet at
1@6 pts.
decline.
Steady at
2N@4
pts. dec.
Steady at
7@9N
pts. dec.
Irreg. at 2
pts. adv.to
4N pt.dec.
Easy at
11@12N
pts. dec.
Irreg. at
6@8 pts.
St’y, unch.
to 3 pts.
advance.
advance.
Quiet at 1 Steady at
2N@25
pt. dec. to
7 N pt.adv. pts. adv.
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The
below.
The
prices
given in
are
Mon.
Sat.
Sept. 3
pence and
100ths.
Tues.
Thus, 7 59 means 7 59-100d.
Wed.
Thurs.
„
Fri.
to
12 N
p.m.
12N
Sept. 9.
p.m.
Sept
Sep .-Oct
_
Oct.-Nov_
Nov .-Dec.
Dec.-Jan.
Jan .-Feb.
Feb.-Mch.
Mch.-Apr.
Apr .-May.
May-June
___
—
7
7
7
7
7
7
7
7
7
7
12 N
12 N
12 N
4
4
4
12 N
4
12N
4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
59
22
10
03 N
01
00 N
00 N
01
01
01
—
58
17
04
98
95
95
95
95
95
95
59
N 16 N
03 N
97 N
N 95
60
52 N
13 N 06
92 N
00
93 N 86
91
83 N
91
83 N
95
95
91
N 95 N 91
95
N
N 91
N 95 N 91
48
02
87
82
79
79
83 N 79
83 N 80
84 N 80
84
80
81
56
73
N 56
N 06 N 01 N 04 N 12 N
88
87
N 92 N
N 92
N
86
82
82
79
78 N 83
78 N 82 N
79
78 N 82 N
79
79
82 N
84 N 79 N
82 N
84 N 80
79
82 N
79
84 N 80
87
N 84
N 84
N 84
d.
Aug
5
12
19
17,000
9,000
40,000
.357,000
.263,000
16,000
7,000
35,000
13,000
_
July
22
29
1,000
17,000
19,000
34,000
326,000
235,000
22,000
12,000
51,000
32,000
.
The tone of the Liverpool market
each day of the past week and the
24,000
1,000
2,000
1,000
22,000
1,000
_
_
.
Forwarded
Total stock—Estimated
Of which American
Total Imports of the week
Of which American
Amount afloat,
Of which American.
7,000
Y,o66
16,000
Aug. 26.
26,000
Aug. 19.
Sales of the week
bales
Of which speculators took.
Of which exporters took—
17,000
4,000
....
....
2,150
800
100
2,150
Maru, 800
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week’s sales, stocks, &e., at that port:
Market
12:15
P. M.
1,000
l'.OOO
6,700
6,635
1,296
5,744
111
59
100
16
Total.
....
....
7—Sicilia,
Sept.
5,200
To Genoa—Sept. 2—Richmond, 4,435
Sept. 7—Sicilia, 2,200
NEW ORLEANS—To Liverpool—Sept. 6—Civilian, 1,296-..:
To Bremen—Sept. 3—Oxonian, 5,744
To Antwerp—Sept. 3—Tremont, 111
To Barcelona—Sept. 8—Pio IX., 59
To Trieste—Sept. 6—Marianne, 100
BOSTON—To Liverpool—Sept. 5—Cymric, 16
To St. John—Sept. 1—Calvin Austin, 102
Sept. 3—Calvin
Spot.
Conti-
Bombay—
1910
1909
1908
Calcutta—
1910
1909
1908
Madras—
1910
1909
1908
All others..
22,987
1,599
spot cotton have been as follows:
Since September 1.
Great I ContU Japan |
Britain. nent. dtChina Total.
6—St.
14,197
Hamburg—Sept. 2—Corrientes, 1,599
Barcelona—Sept. 2—Richmond, 1,500
Exports
from—
Sept.
Total
INDIA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from
all India ports for the week and for the season from Sept. 1
for three years have been as follows:
Receipts at—
Island
8,994
To
To
FAULKNER, PAGE A CO.
1909.
Sea
Austin, 110
J. SPENCER TURNER A CO.,
JAMES TALCOTT,
1910.
25
BALTIMORE—To Bremen—Sept. 7—Chemnitz,
SAN FRANCISCO—To Japan—Sept. 6—Nippon
SEATTLE—To Japan—Sept. 3—Ning Chow, 100
The business cards also of a large number of representative
cotton commission and brokerage houses of New York and
other cities will be found in the paper.
Sept. 8.
3—Chicago,
Andrew, 14,172
To Bremen—Sept. 7—Prinz Friedrich Wilhelm, 5,537
5,537
To Antwerp—Sept. 2—Vaderland, 200
200
To Barcelona—Sept. 6—Montevideo, 50
50
GALVESTON—To Liverpool—Sept. 1—Median, 13,168
13,168
To Bremen—Sept. 1—Inkum, 13,993
Sept. 3—Durendart,
BREADSTUFFS.
Friday, Sept. 9 1910.
the
during the week under review. Practically
every one concerned has seemed inclined to grumble over
existing conditions, but distributers and wholesale bakers
were especially dissatisfied.
Most of these were inclined to
There was
flour market
much irregularity and unsettlement in
Sept. 10
1910.]
THE CHRONICLE
keep out of the market or make lower bids, claiming that
mill agents have not accorded them equitable treatment.
In other words, they contend that millers or their
agents
have failed to reduce flour prices in keeping with the decline
injwheat values. Owing to the large receipts of wheat and
the big increases in available supplies, striking weakness
prevailed in speculative wheat contracts; but many mill
representatives insist that prime cash wheat, and especially
663
CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
58 *6
57 *6
September delivery In elevator
57 *6
57 *6
57 *6
DAILY
December
delivery In elevator
57*6
May delivery In elevator-
Oats
Holl-
55*6
day.
58*6
55*6
58*6
55*6
56*6
59*6
59
lower level early this week. Buyers
offerings continued on a large
scale, which was by no means surprising as there seemed to
be a striking preponderance of depressing influences.
Doubt¬
hard varieties, have not fallen so much as the future de¬ less the most
potent influence was the remarkably favorable
liveries. Nevertheless, buyers are disappointed, and hence weather in the corn belt over the
holiday interval. Instead
it is exceedingly difficult to make noteworthy sales without of
frost, as some had apprehended, the temperature was
making material concessions, which nearly all receivers have decidedly high, and hence the corn crop made good progress.
refused to do.
They argue that the time is drawing near Then the receipts of oats at primary points were still
fairly
when large distributers and bakers will need to provide for
large, and consequently there was another big addition to
their fall and winter requirements.
the visible supply, 3,609,000 bushels, making the total
In the wheat market conspicuous weakness and unsettle¬ about
8,000,000 bushels larger than a year ago. Advices
ment were prominent features. Much of the time, and
espec¬ from Chicago suggested that stocks of oats in private as well
ially early in the week, offerings were decidedly heavy, as public stores and elevators had become so heavy as to
sellers being numerous and bold.
On the other hand, buyers compel free shipments via the lakes to Buffalo. At the
were scarce and timid, and consequently
prices fell sharply. decline Western shippers have reported a more satisfactory
Liberal selling orders came from nearly all quarters, including business.
To-day there was rather more steadiness and a
liquidation by tired and discouraged longs and also bear small rally, partly in sympathy with corn.
hammering, as well as free hedging against the
DAILY CLOSING PRICES OF OATS IN NEW YORK.
fairly heavy primary receipts and notably in the
Sat.
Mon. Tues.
Wed.
Thurs.
Fri.
-.38
Standards
HollNorthwest and the big accumulation in available stocks.
38*6
38
38*4
38*6
No. 2 white
39
39
day.
38 *6 38 *6-39
were
The
it likewise served to restrict
most conservative dealers. In view of the facts
buying by
described, it was small wonder that pronounced depression
obtained, and particularly as there was only a moderate, if
not slow, milling and export business.
In fact, the export
inquiry has been surprisingly quiet, although it was alleged
that French importers had contracted for a decidedly
large
quantity on the Pacific Coast, possibly as much as 500,000
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
September delivery in elevator
December delivery in elevator
May delivery in elevator
Sat.
98 *6
103*6
108*6
Mon.
Tues.
97 %
Wed. Thurs. Fri.
96 *6
96 *6
95 *6
Holl- 101 *6 100*6 100 *6 100
day. 107*6 106 *6 106*6 106*6
Prices for Indian corn fell to a lower
plane during the past
week.
This created no surprise, as
practically all conserva¬
tive and well-informed dealers had fully counted on a
decline,
provided the weather remained favorable over the holiday
interval, and it certainly turned out to have been remarkably
fine.
Consequently it was believed that farmers would
feel more willing to part with their reserves.
Hence re¬
ceipts at primary points continued on a fairly large
scale.
Some
dealers
declare
they look for a still
bigger movement provided the weather continues fine. To¬
day the market was unsettled and feverish. There was a
temporary decline, owing to the favorable official crop report
which suggested a yield a little in excess of
3,000,000,0 00
bushels, against 2,772,376,000 bushels last year. Barring
frost, this is expected to be the biggest crop on re cord. After¬
wards there was a stronger trend on fear of frost
damage,
as there was light or
killing frost in the Dakotas and the cold
wave was said to be moving south toward the
corn belt.
,
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
NE W YORK.
*'
,1!
Sat. : Mon. Tues; Wed, Th urs. Fri.
Cash oorn._Uw-._--_-._i-.i-—Ul-67; :
L.-65**:* 65M<' 6 5*6 #5*6
September delivery in elevator..„jw6#M Hoik 66*6 65 H 6 6*6 66 *6,
December delivery In elevator
,.65*6
day. 65*6 64*6 l,64*6
64*6
May delivery In elevator
66 *6
66*6
FLOUR.
$3 00 @54 00 Kansas straights, sack.54
5 15@ 5 25 Kansas clears, sacks
4
4 50@ 4 75 City patents
4 00@ 4 25 Rye flour
4
5 50@ 5 75 Graham flour
3
5 00@ 5 25 Corn meal, kiln dried._
4 50@ 4 65
GRAIN.
,
Winter clears
Spring patents
Spring straights
Spring clears
Wheat, per bushel—
N. Spring, No. 1
N. Spring, No. 2
Corn, per bushel—
No. 2 mixed
_._$1 21*6
..elev.
1 19 *6
No. 2 mixed
-f.o.b.
1 04*6
No. 2 white
.f.o.b.
1 06*6 Rye, per bushel—
...
Red winter. No. 2
Hard winter. No. 2
Oats, per bushel, new—
Standards
No. 2 white.
No. 3 white
closing quotations:
are
...
Cents.
38
No. 2 Western. -f.o.b.
State and Jersey
38*6
Barley—Malting
Feeding, c.l.f., N. Y__
_
37*6
...
AGRICULTURAL
_
_
DEPARTMENT’S
90@$5
00@ 4
@
10@ 4
85@ 4
00
20
40
00
3 50
Cents.
65*6
Nominal
Nominal
Nominal
Nominal
@75
Nominal
73
REPORT
ON
CEREAL
CROPS, ETC., TO SEPT. 1.—The Agricultural
Department issued on the 8th inst. its report on the cereal
crops for the month of August as follows:
The Crop Reporting Board of the Bureau of Statistics of the United
States Department of Agriculture estimates, from the reports of the corre¬
spondents and agents of the Bureau, as follows:
The average condition of corn on Sept. 1 was 78.2, as
compared with
79.3 last month, 74.6 on Sept. 1 1909, 79.4 on
Sept. 1 1908 and 79.5 the
10-year average on Sept. 1.
The average condition of spring wheat when harvested was 63.1,
as com¬
pared with 61 last month, 88.6 when harvested In 1909, 77.6 in 1908 and a
10-year average when harvested of 78.
The average condition of barley when harvested was
69.8, against 70
last month, 80.5 when harvested In 1909, 81.2 in 1908 and a
10-year aver¬
age when harvested of 83.1.
The average condition of the oats crop when harvested was
83.3, against
81.5 last month, 83.8 when harvested in 1909, 69.7 In 1908 and a
10-year
average when harvested of 79.5.
Buckwheat.—The average condition of buckwheat on Sept. 1 was 82.3,
against 87.9 last month, 81.1 on Sept. 1 1909, 87.8 In 1908 and a 10-year
average on Sept. 1 of 87.
Potatoes.—The average condition of white potatoes on Sept. 1 was 70.5,
against 75.8 last month, 80.9 on Sept. 1 1909, 73.7 In 1908 and a 10-year
average on Sept. 1 of 79.8.
Tobacco.—The average condition of tobacco on Sept. 1 was 77.7, against
78.5 last month, 80.2 on Sept. 1 1909, 84.3 in 1908 and a
10-year average
on Sept. 1 of 82.3.
The condition on Sept. 1 In important States was:
Kentucky, 76: North Carolina, 73, Virginia, 86; Ohio, 70; Pennsylvania, 90;
Tennessee, 82; Wisconsin, 69; South Carolina, 74; Connecticut, 96; Flor-‘
Ida, 86.
Flaxseed.-^The average condition of flaxseed on Sept. 1 was 48.3, against
51.7 last month, 88.9 on Sept. 1 1909, 82.5 In 1908 and a
7-year average
on Sept. 1 of 86.6.
Apples.—The average condition of apples on Sept. 1 was 46.8, against
47.8 last month, 44.5 on Sept. 1 1909, 52.1 In 1908 and a
10-year average
on Sept. 1 of 54.7.
Rice.—The average condition of the rice crop on Sept. 1 was 88.8, as com¬
pared with 87.6 last month, 84.7 on Sept. 1 1909, 93.5 on Sept. 1 1908 and
88.4 the 10-year average condition on Sept. 1.
Hay.—The preliminary estimate of the yield per acre of hay Is 1.34 tons,
as compared with 1.42 as
Anally estimated In 1909, 1.52 tons In 1908 and a
10-year average of 1.44 tons.
A total production of 60,116,000 tons Is thus
Indicated, as compared with 64,938,000 tons finally estimated In 1909.
The average quality Is 92.5, against 93 last year and a
10-year average
of 90.8.
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday
and
since
August 1 for each of the last three
Receipts at—
Flour.
Wheat.
Com
years
Oats.
have been:
Barley.
Rye.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushAWbs. bu.56 lbs.
189,482
928,400
3,164,500
3,538,200
235,500
20,000
256,510
61,425
242,950
345,200
302,900
509,990
Duluth
12,390
12,830
1,229,299
22,037
7,336
300,795
Minneapolis.
3,111,160
240,600
830,920
457,160
64,250
Toledo
232,000
37,300
166,500
5,000
Detroit
10,480
77,990
117,900
252,276
Cleveland
757
23,459
63,230
249,528
St. Louis...
63,300
655,058
420.200
495,950
"9",800
'4.466
Peoria
36,500
35,000
382,279
185,600
-29,000
10,792
Kansas City.
1,248,100
433.200 r
82,300 1
------
Chicago
....
Milwaukee..
.
._
•
Total wk.*10
Samewk. *09
Same wk. *08
Since
*
Aug. 1
.
1910
1909.....
1908-....
1
"
■
■■■
■"
7,796,976
5,055,202
5,058,927
6,114,989
3,567,219
2,773,144
6,168,511
i 1,335,156
4,474,349
4,871,569
1,572,191
2,949,681
621,768
172,120
248,552
1,771,822
2,178*417
44,266,419
29,044,010
1,956,620
27,949,113
16,984,079
15,100,996
12,895,391
40.966,788
25,386,277
21,210,044
3,856,714
3,352,733
7,038,866
978,432
595,480
818,705
374,334
-479,083
400,581
Vt
*.;■
■
r1
Total receipts
the week ended
*>
"I1
v-
1
DAILY CLOSING PRICES OF WHEAT FUTURES IN
NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter.
106*6
104 *6 104*6 104 *£
106
September delivery in elevator
106*6 Holl- 105 *6 104*6 104 *6 104*6
December delivery in elevator
110 *6
day. 108 *6 108*6 108*6 107*6
May delivery in elevator
115*6
113*6 112*6 112*6 112*6
following
1
bushels.
a
and timid while
Winter, low grades
Winter patents
Winter straights
addition
bushels, for various forward deliveries. It was also stated
that exporters had bought moderately of soft red winter
here and for shipment via Baltimore and
Philadelphia.
Unquestionably, the most potent influence for depression
was
the remarkably favorable weather that
prevailed
practically all over the country during the holiday in¬
terval, but more particularly in the corn belt. Then,
too, cable advices were discouraging, European markets,
and particularly on the Continent,
being influenced by
the heavy world’s shipments largely
brought about by huge
contributions by Russia and the Danube. As a result, there
was
a
big increase in the quantity on passage headed
for Continental ports, but on the other hand there was a
reduction in the quantity destined for the United
Kingdom.
Selling was accelerated in part by continued favorable
threshing returns from the Northwest, the yield in many
places proving greater than expected, and hence estimates as
to the production were raised, and
notably in Minnesota and
South Dakota.
The downward trend was arrested
tempo¬
rarily by the surprisingly small increase in the world’s avail¬
able supply, 767,000 bushels, whereas a
year ago it increased
4,563,000 bushels. To-day there was further weakness.
The official crop report was considered fairly favorable,
sug¬
gesting a spring-wheat crop of about 215,000,000 bushels
and a grand total of 673,294,000 bushels.
Cable advices
were discouraging,
foreign markets being depressed by the
huge estimated world’s weekly exports, possibly 17,000,000
scarce
CLOSING
DAILY
ing it profitable to carry cash wheat in elevators against sales
of December or May.
The high premium also looked de¬
cidedly attractive to those speculators who are expecting a
In
still
*6
38*6-39*6
PRICES OF OATS FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
September delivery In elevator
33 *6
33 *6
32 *6
32 *6
32 *6
December delivery in elevator
36 *6 Holl35 *6
35 *6
34 *6
35
May delivery In elevator
39*6
day.
38*6
38*6
37*6
37*6
As a result, it was only natural that the distant contracts
should fall much more rapidly than the cash grain or Septem¬
ber deliveries.
In other words, December and May had
been selling at what was considered a big premium, thus mak¬
further break.
again fell to
60*6
-T—rrtf
*
——
of flour and grain at the seaboard ports for
Sept. 3 1910 follow:
THE CHRONICLE
664
Flour,
bbls.
Receipts at—
New York
161.280
Baltimore
38,074
69,196
61,431
Richmond
New Orleans*
4,018
26,842
Boston
Philadelphia
Wheat,
bush.
407,800
3,000
215,771
319,049
41,652
2,400
Newport News.
Galveston
Com,
bush.
81,725
14,040
29,000
89,120
59,232
200,600
Oats,
bush.
751,825
123,429
219,778
359,969
115,180
61,000
Barley,
Rye,
bush.
bush.
6,375
25,300
1,115
30,790
33,193
13,000
1,164
4,313
4,964
47,143
18,000
3,150
20,790
Mobile
Montreal
6,040
70,109
619,109
Total week 1910..
384,781
1,626,781
597,009
Since Jan. 11910.11,523,607 45,294,305 27,808,225
Week 1909
381,041 2,131,155
268,055
Since Jan. 11909. 9,919,129 49,673,335 30,118,115
1,661,971
53,732
33,498,473 2207,767
1,505,386
12,077
31,335,769 4243,216
35,692
521,782
10,696
657,305
[VOL.
LXXXXI.
DRY GOODS TRADE.
New York, Friday Night, Sept. 9 1910.
General conditions in the market this week have shown
little signs of disturbance.
The holiday on Monday inter¬
rupted business somewhat, but in the aggregate the total
for the five days’ trading is estimated to reach about the
I HE
same volume as that of the full week preceding.
The de¬
mand for current supplies is the main support of the market
in most divisions; varying advices coming to hand from
distributing centres and reports from handlers of commer¬
cial paper indicate that, as a whole, the stocks held by
jobbers throughout the country are unusually low for the
Receipts do not include grain passing through New Orleans for foreign ports
time of year.
This condition, while it still fails, however,
on through bills of lading.
to stimulate jobbers into activity in providing for other
The exports from the several seaboard ports for the week
than near requirements, forces a constant demand of fair
ending Sept. 3 1910 are shown in the annexed statement:Peas, proportions and insistent requests for speedy fulfillment of
Oats,
Rye, Barley,
Wheat,
Corn,
Flour,
bush.
bush.
bush.
bush.
bush.
bbls.
Exports from—
bush.
existing and new orders. It also keeps the primary market
419
750
19,603
New York
40,165
14,037
54,130
in generally clean condition and is a support to the prevailing
Boston
7,839
12,851
14,000
Philadelphia
112,000
range of prices, with very few exceptions.
With the elimi¬
Baltimore
244,800
2,060 18,451
nation of the disturbing factor of the August “corner” from
New Orleans
1,600
56,000 16,000
the cotton market, there is a disposition to regard the raw
47,143
Newport News
Galveston
5,666
material situation as less disturbing and there have been
Mobile
3,150
"6,046
'300
”...
29,382
reports coming to hand of contemplated resumption of
27
Montreal
83,000
;000
475,000
work in certain directions by manufacturers.
Such action
Total week
879,804
208,280 150,582
48,985
4’9 is
2,650
generally deprecated by sellers here until buyers evince
Week 1909
2,178,007
111,829 194,885
9,546
4,216
183
abandonment to some extent, at least, of their present very
The destination of these exports for the week and since
conservative policy.
It is probable, therefore, that, for
July 1 1910 is as below:
this month at any rate, the curtailment in the production
-Flour
Wheat
Com
Since
Since
Since
of cotton and woolen goods will continue pronounced.
At
Week
July 1
Week
Week
July 1
July 1
Fall River there has been some increase in production, and
1910.
1910.
3.
Sept.
Sept
3.
Exports for toeek and Sept. 3.
1910.
bush.
bush.
bush.
bush.
since July 1 to—
with converters in some instances re-selling, mills have on
bbls\
bbls.
564,428
83,000
United Kingdom... 67,437
358,839 4,414,237
434,567
some makes of print cloth yarn fabrics made concessions
211,984
47,143
Continent
29,423
183,848
513,230 1,800,283
30,140
912,165
from prices ruling a week ago.
65,778
Sou. & Cent. Amer. 25,390
7,735
179,187
This is pointed to as an in¬
258,751
47,997
West Indies
16,632
193,658
stance of what might follow increased production in other
4,000
Brit. Nor. Am. Cols.
3,000
15,994
lines.
Some improvement is noted in the woolen and
5,000
5,000
Other Countries
8,700
30,820
worsted goods division, with dress goods favorably affected,
1.956.347
208,280
Total.
879,804 6,285,298
150,582 1,038,074
so far as the demand is concerned, by the settlement of the
111,829 1,125,594
Total 1909
..194,885 1,142,369 !,178,007 12,110,755
Piece silks continue in good request
The world’s shipments of wheat and corn for the week cloakmakers’ strike.
for fall, and new prices named for spring business show a
ending Sept. 3 1910 and since July 1 1910 and 1909 are
*
.
shown in the
following:
Exports.
Week
Since
Since
Week
Since
Since
Sept. 3.
July 1.
July 1.
Sept. 3.
July 1.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
North Amer. 1,952,000
Russian.... 5,232,000
920,000
Danubian
4,176,000
Indian
392,000
Australian.
448,000
Oth. countrs
256,000
..
..
_
.
12,674,000
35,968,000
10,536,000
17,968,000
12,880,000
4,808,000
1,008,000
..J 13376000 95,842,000'
114,000
162,000
19,524,000
24,096,000
10,648,000 2,890,000
187,000
6,248,000
17,936,000
1,340,000
1,704,000
1,091,000
4,795,000
32,489,000
5,898,000
42,554,000
afloat for Europe
Wheat.
44,273,000
on
dates
Corn.
United
United
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
*
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
3 1910._ 17,784,000 20,920,000 38,704,000 9,401,000 11,475,000 20,876,000
Aug. 27 1910.. 19,680,000 17,360,000 37,040,000 11,135,000 10,030,000 21,165,000
Sept. 4 1909.. 15,672,000 13,432,000 29,104,000 7,337,000 11,570,000 18,907,000
Sept. 5 1908.. 15,040,000 14,160,000 29,200,000 6,460,000 4,250,000 10,710,000
Sept. 7 1907.. 15,520,000 10,440,000 25,960,000 5,800,000 4,920,000 10,720,000
Sept.
The
visible
supply of grain, comprising the stocks in
at principal points of accumulation at lake and
seaboard ports Sept. 3 1910, was as follows:
granary
AMERICAN GRAIN STOCKS.
Wheat,
Com,
Oats,
Rye,
bush.
bush.
bush.
bush.
bush.
941,000
215,000
725,000
6,000
13,000
80,000
26,000
433,000
1,606,000
11,000
125,000
1,441,000
1,593,000
258,000
5,932,000
399,000
2,327,000
3,106,000
1,833,000
4,123,000
10,000
735,000
919,000
637,000
24,000
145,000
232,000
8,000
210,000
35,000
145,000
74,000
106,000
23,000
25,000
95,000
349,000
34,000
96,000
884,000
50,000
3,000
124,000
771,000
163,000
21,000
1,000
484,000
591,000
152,000
6,925,000
296,000
768,000
1,146,000
749,000
205,000
5,000
16,000
17,000
10,000
5,000
63,000
9,000
6,000
58,000
2,036,000
326,000
703,000
93,000
1,000
Total Sept. 3 1910. .26,452,000
Total Aug. 27 1910. .24,998,000
Total Sept. 4 1909.
9,167,000
2,750,000
2,165,000
1,868,000
16,260,000
12,551,000
7,382,000
172,000
232,000
239,000
928,000
Rye,
Barley,
New York
“
afloat
Boston
.
Philadelphia
Baltimore
New Orleans
Galveston
Buffalo
Toledo
Detroit
Chicago
Milwaukee
Duluth
.
_
_
.
.
.
.
.
.
Minneapolis
St. Louis
Kansas City
Peoria
.
.
.
Indianapolis
On Lakes
On Canal and River..
.
.
.
.
1
Barley,
Montreal
Fort William
Port Arthur
Other Canadian
.
.
.
.
Com,
Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
36,000
501,000
195,000
11,000
46,000
786^000
707,000
Oats,
bush.
bush.
bush.
520,000
818,000
525,000
121,000
21,000
300,000
bush.
bush.
60,000
.
.
.
1,984,000
2,641,000
849,000
21,000
82,000
44.000
SUMMARY.
Wheat,
Com,
300,000
386,000
60,000
468,000
62,000
Oats,'SUSP Rye.
alBr* bush
16,260,000 ■F172,000
bush.
bush.
.26,452,000
2,750,000
1,984,000
21,000
300,000
Total Sept. 3 1910. .28,436,000
Total Aug. 29 1910. .27,639,000
2,771,000
16,560,000
12,937,000
American
Canadian
.
2,247,000
AR.ftftft
bush.
fi
t
172,000
232,000
Barley,
bush.
928,000
60,000
988,000
854,000
1,437
659
_
54,118
9,483
8,360
4,347
19,569
1,366
8,057
32,243
31,352
..
601
7
270
369
187
1
6,103 170,991
Week.
6
4
3
_
_
344
820
11
110
579
167
Since
Jan.1.
1,1.15
762
148,342
11,173
20,206
11,098
28,801
1,117
9,550
36,043
12,671
2,044 280,878
The value of these New York exports
since Jan. 1 has been
$11,756,100 in 1910, against $15,027,629 in 1909.
All coarse cotton goods are without material change in
price, sellers holding firmly to previous quotations. The
demand for brown sheetings and drills has again been mod¬
erate and up to about late average for ducks, denims and
tickings. Buying is almost entirely for near requirements
and stocks held in first hands are scanty in the aggregate
and quite cleaned up in a number of directions.
Bleached
cottons are quiet but firm, as it has been intimated that there
will be no decline in leading makes from present prices,
which are guaranteed up to October first.
In ginghams
the chief feature has been the opening up for1 spring of
various lines by the Amoskeag Company and the withdrawal
by this company of its price restrictions and reversion to its
old policy of allowing buyers of these goods to market them
without restraint such as is imposed by the price restriction
irregularly higher
Business in
printed fabrics of all descriptions has been without striking
feature, and there has been no change in kid cambrics and
The prices
on
the
and lower, with the leader
new
lines
are
“A. F. C.” ^c. up.
linings. Print cloths have been in quiet re¬
quest, with second hands meeting part of the demand at
concessions, and at the close mills are accepting 52^c. for
38%-inch 64 squares, against 534c- last week.
other cotton
WOOLEN GOODS.—The demand for men’s wear woolens
and worsteds is slowly improving, there being an increase in
the duplicate orders coming forward on spring lines as well
as for immediate delivery.
The increase in buying is not well
distributed and is mostly directed to the better grades of
staple and fancy worsteds; all-wool goods and low-grade
mixed fabrics continuing on the whole in but indifferent
request. The demand for staple lines of dress goods shows
an improvement, although business has not yet fully thrown
off the effects of the late strike.
Sellers are, however, looking
forward to considerable development in the near future.
FOREIGN DRY GOODS.—A moderate amount of busi¬
has been reported in fine grades of men’s wear fabrics
for the customs trade and an increased interest
has been
shown in dress goods, both for immediate delivery and for
spring. Good orders are recorded for piece silks and a fair
business is doing in ribbons, with prices steady.
Linens
continue very firm, with a well-sustained demand for both
fall and spring deliveries.
Advices from Calcutta have had
a stimulating effect on the market for burlaps, and a good
business has been done this week at advancing prices.
ness
Total Sept. 3 1910.
Total Aug. 27 1910.
Total Sept. 4 1909.
Since
Jan.1.
4,657
Total
policy.
CANADIAN GRAIN STOCKS.
Wheat,
Week.
11
1
New York to Sept. 3—
_
81,496,000 3,353,000
The quantity of wheat and corn
mentioned was as follows:
2,524,000
2,175,000
29,659,000
8,196,000
1909
1910
1909.
1910.
1909.
1910.
Total
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for week endingSept.3 were6,103pkgs.
Corn.
Wheat.
Argentine
steady market.
;
Sept. 10 1910. |
THE CHRONICLE
State mb City defmtmot.
MUNICIPAL BOND SALES IN AUGUST.
The amount of
665
Benton County School District No. 32, Wash.—Bond
Offering.—R. B. Walker, County Treasurer (P. O. Prosser),
will offer for sale at 10 a. m. Sept. 17 $6,000 5-20-year
(optional) bonds. Interest annually at County Treasurer’s
office.
Billings, Yellowstone County, Mont.—Bond Sale.—On
Sept. 6 the $20,000 15-20-year (optional) coupon (with
privilege of registration as to principal) fire-station-erection
bonds described in V. 91, p. 476, were sold to N. W. Halsey
& Co, of Chicago at 101.30 for 5s.
Nine bids were received.
Bronson, Branch County, Mich.—Bond Offering.—Pro¬
posals will be received, it is stated, until 12 m. Sept. 15 by
municipal bonds sold during the month of
August, according to our records, was $12,821,993. In
addition $1,254,563 debentures of Canadian municipalities
were
disposed of and $7,482,666 temporary loans were also
negotiated. Some of the more important bond issues dis¬
posed of last month were as follows: $800,000 4s of Cleve¬
land, O.; $514,000 4*4s of Niagara Falls, N. Y.; $500,000 A. L. Locke, Village Attorney, for the $40,000 434% water¬
5s of San Joaquin County, Cal.; $435,000 6s of Grand Valley works and electric-light bonds voted on Aug. 23 (V.
91, p.
Irrigation District, Colo.; $334,000 434s of Grand Rapids, 601). Interest semi-annual. Certified check for 2% is
Mich.; $323,000 5s of Wichita, Kan., and $300,000 4s of required.
Browns, Edwards County, Ill.—Bond Sale.—The $3,000
Cincinnati, Ohio.
sidewralk bonds voted on April 19 (V. 90, p. 1190) have
The number of municipalities emitting bonds and the num¬ been sold.
ber of separate issues made during August 1910 wTere 272 and
Caldwell, Canyon County, Idaho.—Bond Sale.—On Aug. 15
366 respectively.
This contrasts with 282 and 411 for July $76,060 6% 10-20-year (optional) water and paving bonds
1910 and with 364 and 454 for
August 1909.
For comparative purposes we add the following table,
showing the aggregates for August and the eight months for
a
series of years:
Month of
August.
1910
$12,821,993
22,141,716
18,518,046
20,075,541
16,391,587
8,595,171
16,124,577
7,737,240
1909
1908
1907
1906
1905
1904
1903
1902
1901.
8,009,258
15,430,390
were
awarded, it is stated, to E. H. Rollins & Sons of
Denver at 100.39.
Calumet School District (P. O. Calumet), Canadian
County, Okla.—Bond Sale.—This district has sold $10,000
bonds.
For the
Eight Mos.
$207,799,198
249,387,680
208,709,303
151,775,887
144,171,927
131,196,527
187,226,986
102,983,914
108,499,201
84,915,945
Month of
Auoust.
1900
1899
1898
1897
1896
1895
1894
1893
1892_
For the
Eight Mos.
$7,112,834
$93,160,542
5,865,510
87,824,844
76,976,894
97,114,772
52,535,959
80,830,704
25,029,784
6,449,536
4,045,500
8,464,431
7,525,260
2,734,714
4,108,491
82,205,489
37,089,429
57,340,882
Owing to the crowded condition of our columns, we are
obliged to omit this week the customary table showing the
month’s bond sales in detail.
It will be given later.
News Items.
California.—Legislature Passes Constitutional Amendments
to Raise Money for Panama-Pacific Exposition.—It is said
that the Assembly on Sept. 8 passed two.proposed amend¬
Cambridge, Guernsey County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Sept. 15 by W. J.
Hood, City Auditor, for the following 434% street-paving
assessment bonds:
$2,570 50 Carlisle Ave. bonds.
Denomination $257 05.
Denomination $864 97.
8,649 70 Blaine Ave. bonds.
1,509 40 Gomber Ave. bonds.
Denomination $150 94.
5,728 90 Gaston Ave. bonds.
Denomination $572 89.
Denomination $128 06.
1,280 60 Gaston Ave. bonds.
2,860 90 South Ninth St. bonds.
Denomination $286 09.
2,347 80 Steubenville Ave. bonds.
Denomination $234 78.
1,301 50 North Tenth St. bonds.
Denomination $130 15.
4,331 10 Wheeling Ave bonds.
Denomination $433 11.
1,872 20 Woodlawn Ave. bonds.
Denomination $187 22.
2,938 50 North Third St. bonds.
Denomination $293 85.
14,009 80 Clark St. bonds.
Denomination $1,400 98.
5,248 00 North Seventh St. bonds.
Denomination $524 80.
Date June 1 1910.
Interest annual.
Maturity one bond of each Issue
1911
1920
Certified check for $500,
yearly on June 1 from
to
Inclusive.
payable to the City Auditor, is required. Purchaser to pay accrued Interest
and be prepared to take the bonds within 10 days from time of award.
The amount of bonds to be sold will be reduced by the amount of assess¬
ments paid In cash prior to the date of sale.
ments to the State Constitution which had been
Chebanse School District No. 107 (P. O. Chebanse), Iro¬
approved
by the Senate on the previous day (Sept. 7) for the purpose quois County, Ill.—Rond Sale.-—On Aug. 15 the $15,000 5%
of raising $10,000,000 to secure the location of the Panama1-15-year (serial) school-building bonds described in V. 91,
Pacific Exposition.
See V. 91, p. 539. One-half of the p. 415, were sold to E. H. Rollins & Sons of Chicago at 100.77.
money, it is stated, will be raised by levying a State tax and
Chicago (Ill.) Sanitary District.—Bond Offering.—Propos¬
the other half by bonding the city of San Francisco.
als will be received until 1 p. m. Sept. 28,
according to dis¬
Denver, Colo.—Bonds Voted for Construction of Municipal patches, for $1,000,000 4% bonds.
Water Plant.—Returns from the election held last Tuesday
Denomination $1,000.
Interest semi-annual.
Maturity $46,000 on
Oct. 1 1912 and $53,000 yearly on Oct. 1 from 1913 to 1930 inclusive.
(Sept. 6) on the proposition to issue $8,000,000 bonds for the Certified
check for 5% is required.
construction of a municipal water plant are said to indicate
Chico, Butte County, Gal .—Bond Sale.—On Aug. 24 the
that the plan carried by a vote of three to one.
A temporary
injunction preventing the issuance of these bonds until their four issues of 5% 1-40-year (serial) gold coupon bonds, ag¬
legality has been passed upon was issued Sept. 5 by Judge gregating $150,000, described in V. 91, p. 477, were awarded,
it is stated, to E. H. Rollins & Sons of San Francisco.
Lewis in the Federal Court.
See V. 91, p. 165.
Bonds Not Sold.—No bids were received for $19,834 6%
Framingham, Mass.—Suit to Recover on Alleged Spurious
Notes.—The Boston “Advertiser” of Sept. 5 prints the fol¬ 10-year local-improvement bonds offered on Aug. 15.
Clay County (P. O. Spencer), Iowa.—Bond Offering.—
lowing concerning a suit brought by the Franklin Savings
Bank of Boston to recover on a $25,000 note of the town Proposals will be received Sept. 14 by A. W. Chamberlain,
which is alleged to be a forgery.
County Auditor, for approximately $4,761 6% Drainage
Framingham, Sept. 4.—Papers have been served in the second suit to
be brought against the town on account of the forgery of town notes
by
former Treasurer John B. Lombard, which came to light nearly a year
ago and as a result of which Lombard is now serving a sentence of from
ten to fifteen years in the State prison at Charlestown.
The suit is brought by the Franklin Savings Bank of Boston to recover
on a note of $25,000 which is held by the bank and which is
alleged to be
spurious.
The bank seeks to recover $40,000, covering the face value of
the note, Interest and other charges.
The writ is returnable in the Middle¬
sex Superior Court at East Cambridge on the first
Monday in October.
It was the demand of the Franklin Savings Bank for
payment of this
same note, made on Oct. 15 1909, which
brought to light the wholesale
forgeries which, by Lombard’s own admissions, amounted at that time to
more than
$320,000.
The first suit to be brought against the town, which is now
pending in
the U. S. Circuit Court, was brought some time ago
by John F. Newton
for $15,000.
Newport, Campbell County, Ky.—Litigation.—The Board
of Council on Sept. 1 authorized the City Solicitor to file suit
on behalf of the city to test the
validity of the $100,000 cou¬
pon street-improvement bonds mentioned in V. 90, p. 1194.
District No. 7 bonds.
Denomination $680 15.
Maturity $680 15 yearly on Jan. 1 from 1913
to 1919 inclusive.
Successful bidder will be required to deposit certified
check, payable to the Auditor, for 5% of bonds purchased.
Crawford County (P. O. English), Ind.—Rond Sale.—The
First National Bank of Mill town purchased on
Sept. 6 at
issue of $2,200 434% 10-year Whiskey Run Township
rock-road bonds.
Interest semi-annually on May 15 and
par an
Nov. 15.
Crisfield, Somerset County, Md.—Bond Offering.—Pro¬
posals will be received until 2 p. m. Sept. 14 by W. E.
Dougherty, City Clerk, for $15,000 434% coupon refunding
bonds.
Authority Chapter 98, 1910 Laws. Denomination $500. Date Oct. 1
1910.
Interest semi-annually at the Bank of Crisfield.
Bonds are
exempt from all taxes.
Bonded debt,
including this Issue, $37,000.
Floating debt $5,000. Assessed valuation $1,239,584.
Cude
Bond Proposals and Negotiations this week
have been as follows:
Allen County (P. 0. Fort Wayne), Ind.—Bond Sale.—This
county on July 25 sold $40,000 4% voting-machine bonds
to Breed & Harrison of Cincinnati at par
and accrued interest.
Denomination $1,000.
Date Nov. 15 1909. Interest annually on Dec. 1.
Maturity on Dec. 1 as follows: $7,000 In each of the years 1910, 1912, 1914,
1916 and 1918 and $5,000 In 1920.
Allentown, Lehigh County, Pa.—Bond Sale.—The follow¬
ing bids were submitted, it is said, for the $34,500 4% 5-30year (optional) sewer bonds offered on Aug. 9 (V. 91, p. 350):
Allentown National Bank
100.511Merchants’ National Bank-__:.-par
Beaverhead
County School District No. 19 (P.
O.
Armstead), Mont.—Bond Offering.—J. W. Scott, Trus¬
tee, will offer at public auction at 12 m. on Sept. 15
$3,500 6% gold coupon school-house and furnishing bonds.
Denomination $500.
Date “about Oct. 1 1910.”
Maturity 5 years.
Dillon.
Interest payable in
Drainage District, Leflore County, Miss.—Bond
Offering.—-Proposals will be received until 12 m. Sept. 16
at the Court-house in Greenwood for
$42,500 6% 11-20-year
deposit of 2% must ac¬
G. W. Holmes is President.
company each bid.
The official notice of this bond offering will be
found among
the advertisements elsewhere in this Department.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Offer¬
ings.—Proposals will be received until 11 a.m. Sept. 14 by
the Board of County Commissioners, John F.
Goldenbogen,
Clerk, for $59,000 4% coupon bonds to improve Parma
and Royal ton Center Ridge Road No. 3.
bonds.
Denomination $500.
A
Authority Chapter 18, Division 2, Title 3, Part First, of the General Code
of Ohio.
Denomination $1,000.
Date Sept. 1 1910.
Interest April 1
and Oct. 1 at the County Treasurer’s office In Cleveland.
Maturity $1,000
on April 1 1911* $3,000 each six months from Oct. 1 1911 to Oct. 1 1919
inclusive, $3,000 on April 1 1920 and $4,000 on Oct. 1 1920.
An uncondi¬
tional certified check for 1 % of bonds bid for, made payable to the County
Treasurer, is required.
the time of award.
The bonds will be delivered within 10 days from
THE CHRONICLE
666
Darke Oounty (P. O. Greenville), Ohio.—Bond Sale.—On
Sept. 8 the three issues of 4^% bonds, aggregating $126,500,
described in V. 91, p. 601, were sold to the Greenville, the
Second and the Farmers’ National Banks of Greenville at
101.385.
The following proposals were submitted:
Greenville N. Bk.l Green| Hayden, Miller & Co.,
Second N. Bk-__}ville__$12&,252 65
____._-$127,775
Cleveland
Farmers’ N. Bk_J
I Stacy & Braun, Toledo-- 127,408
First Nat. Bank, Cleve.. 127,810 251 Seasongood & Mayer, Cln 127,294
_
50
75
00
Deerpark (Town) Union Free School District No. 1 (P. O.
Port Jervis),
Orange Oounty, N. Y.—Bond Offering.—Pro¬
posals will be received until 8p.m. Sept. 21 by the Board of
Education, F. R. Salmon, President, and L. C. Senger,
Clerk, for $36,000 4y2% bonds.
Interest semi-annually at
the First National Bank of Port Jervis, In New York exchange.
Maturity
on Oct. l.as follows:
$2,000 In 1911, $1,000 yearly from 1912 to 1935
inclusive and $2,000 yearly from 1936 to 1940 Inclusive.
Certified check,
cash or bank draft for 10% of bonds bid for Is required.
Accrued Interest,
if any, to be paid by the purchaser.
These bonds were offered as 4s, but
not sold, on Sept. 6.
The district has no bonds outstanding.
Denomination $1,000.
The
Date Oct. 1 1910.
official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Dolores, Montezuma Oounty, Colo.—Bond Offering.—
Proposals will be received until 6 p. m. Sept. 12 by Harry V.
Pyle, Town Clerk, for $60,000 municipal bonds. Certified
check for $500 is required.
Donora, Washington County, Pa.—Bond Sale.—This
borough on Sept. 5 sold $22,000 4J4% 16-year (average)
improvement bonds, according to reports, to J. S. & W. S.
Kuhn Inc., of Pittsburgh.
Elmwood Place, Hamilton County, Ohio.—Bond Offering.
—Proposals will be received until 12 m. Sept. 15 by A. H.
To well, Village Clerk, for $15,000 4)4% refunding bonds,
Series No. 5.
Authority Section 3196 of
an
Act of General Assembly, passed Feb. 14
Date Sept. 19 1910.
Denomination $500.
Interest semi-annual.
Maturity Sept. 19 1920.
Certified check for 5% of bonds bid for, payable
to the Village Trustee, Is required.
Purchaser to pay accrued Interest
and be prepared to take the bonds within 10 days from the date of award.
1910.
Ei Paso, El Paso County, Tex.—Bond Sale.—The Inter¬
national Water Works has accepted the $375,000 5% 20-40year (optional) water-works bonds voted on June 21 (V. 91,
p. 167) as part payment for their plant, which was recently
purchased by. the city.
Essex County (P. O. Salem), Mass.—Note Sale.—On
Sept. 6 the $150,000 notes described in V. 91, p. 602, were
awarded to the Cape Ann National Bank of Gloucester at
4.25% discount and $6 premium. The other bidders were:
Estabrook & Co., Boston—4.49% discount.
Naumke&g Trust Co., Salem—4,50% discount and $3 premium.
& Co., Boston—4.86% discount and $1 premium.
Maturity $75,000 on Dec. 5 and $75,000 on Dec. 25 1910.
F. S. Moseley
Fairmont, Martin County, Minn.—Bond Sale.—The State
purchased $30,000 water and light bonds
which were voted Aug. 30.
Fairport School District (P. O. Fairport Harpor), Lake
County, Ohio.—Bond Offering.—Proposals will be received
until 12 m. Sept. 12 by the Board of Education, Wade Hulbert, Clerk, for $45,000 434% coupon school-building bonds.
of Minnesota has
Denomination
Authority Sections 7625, 7626 and 7627, General Code.
$500.
Date Sept. 12 1910. Interest semi-annually at the office of the
Board.
Maturity $500 each Sept. 12 and $1,000 each March 12 from Sept.
12 1917 to March 12 1947 inclusive.
Certified check on a bank in Lake
County for 5% of bid, payable to the Treasurer, Is required.
Fallsburgh School District No. 9, Sullivan County, N. Y.—
Sept. 1 $4,500 6% school-house bonds for $4,780—the price
thus being 106.222.
Interest Jan. 1.
Date Sept. 1 1910.
from 1913 to 1930 inclusive.
LXXXXI
Haverstraw Union Free School District No. 3, N. Y.—Bond
Sale.—This district, it is stated, has awarded $4,500 building
bonds to G. M. Carnochan of New City at par for 4.49s.
Haywards, Alameda Oounty, Cal.—Bonds Defeated.—An
election held here recently, it is stated, resulted in a vote of
185 to 128 against a proposition to issue $12,000 school bonds.
Hebron, Thayer Oounty, Neb.—Bond Sale.—The three
$26,500, offered on April 19
(V. 90, p. 1057), were awarded during August to the State of
issues of 5% bonds aggregating
Nebraska on a basis of 434%Helena School District No. 1 (P. O. Helena), Lewis and
Clark Oounty, Mont.—Bonds Not Sold.—There were no
bidders on Aug. 20 for the $50,000 4)4%-10-20-year (op¬
tional) coupon school bonds described in V. 91, p. 290.
Homer, Claiborne Parish, La.—Bond Offering.—Proposals
will be received until 10 a. m. Sept. 15 by A. R. Johnson,
Mayor, for $40,000 5% coupon water bonds.
Denomination $1,000.
Date Jan. 1 1910.
Interest semi-annually at
the Town Treasurer’s office or the Hanover National Bank In New York
City, at option of holder.
Interest to July 1 1910 canceled.
Maturity
Jan. 1 1950, subject to call Sfter 20 years.
Certified check for 2% of bonds
bid for, payable to the Town Treasurer, Is required.
The bonds will be
certified as to their genuineness by the United States Mortgage & Trust Co.
of New York City and the legality will be approved bn Messrs. Caldwell
& Reed of New York City, whose opinion will be delivered to the purchaser.
Delivery of bonds to be made on or about Oct. 1. Purchaser to pay ac¬
crued Interest from July 1 1910.
Bids to be made on blank forms furnished
by the town. Assessed valuation 1909, $566,180. Actual value (esti¬
mated) $1,000,000.
Hood River
Irrigation District (P. O. Portland), Ore.—
proposals will be re¬
Kelly, Secretary, for
$50,000 6% irrigation bonds. Interest semi-annual. Certi¬
Bond Offering.—Dispatches state that
ceived until 10 a. m. Sept. 16 by R. W.
fied check for
10% is required.
Hopkinsville, Christian County, Ky.—Bond Offering.—
Proposals will be received until 2 p. m. Sept. 10 by Chas. M.
Meacham, Mayor, for $15,000 5% coupon high-school bonds.
These bonds are part of an issue of $40,000, the balance of
which will be issued
as
the work progresses.
Denomination: 40 bonds of $500 each and 20 bonds of $1,000 each. Date
April 1 1910.
Interest semi-annually at the City Bank In Hopkinsville.
The entire issue matures $2,000 yearly on April 1 from 1911 to 1930 inclus¬
ive.
Certified check for 5%, payable to J. E. McPherson, Is required.
Jordan School District (P.
—This district sold $60,000
O. Midvale), Utah.—Bond Sale.
5% 20-year building bonds on
Aug. 4 to E. H. Rollins & Sons of Denver. Denomination
$1,000. Date April 1 1910. Interest semi-annual.
Kansas City, Mo.—Bond Sale.—On Sept. 7 the $400,000
4% Class “A” 20-year bonds (3 issues) and $400,000 434%
Class “B” 20-year bonds (8issues),described in V. 91, p. 478,
were awarded to the National City Bank, New York, Harris
Trust & Savings Bank of Chicago and the Fidelity Trust Co
of Kansas City at their joint bid of 100.025.
Other bids
.
received
were
as
follows:
Well, Roth & Co., Cln.: W. R. Compton Co., St. Louis, and
Woodin, McNear & Moore, Chicago (for both issues)
$800,220 flat
Commerce Trust Co., Kansas City (for both issues)
800,100
E. H. Rollins & Sons, Chicago, and Parkinson & Burr, Boston—
For $400,000 Class “B” and $150,000 Class "A”
550.484
For $400,000 Class “B” bonds
409,080
Merchants’ Loan & Trust Co., Chicago (for $400,000 Class “B”
and $230,000 Class “A”)
630,050
The
following bidders submitted offers for the $400,000
Class “B” bonds only:
EmerY.Peck&Rockwood,Ch.$409,680 Morgan Livermore&Co.,N Y.$408,950
Lee, Hlgglnson & Co. Bos
Well, Roth & Co., Clncin.l
407,160
and) 409,640 Kountze Bros., New York__ 406,880
Brown & Mann, Kan. City
Edmunds Bros., Boston
j
(for $5,000)
5,050
_
Adams & Co., Boston,
—
Bond Sale.—Geo. M. Hahn of New York City purchased on
Denomination $25d.
$250 yearly on Jan. 1
[VOL.
Maturity
Lakewood, Cuyahoga County, Ohio.—Bond Sale.—On
Aug. 29 the five issues of 5% coupon bonds, aggregating
$28,910, described in V. 91, p. 541, were awarded to the First
National Bank at 105.607 and accrued interest.
ing is
a
Follow¬
list of the bidders and the premiums offered by
same:
Fredonia, Chautauqua County, N. Y.—Bond Sale.—On
Sept. 6 Adams & Co. of New York City were awarded $16,500
5% 1-10-year (serial) gold registered street-paving bonds
for $16,727 (101.375) and interest—a basis of about 4.713%.
$1,621
Cleveland Trust Co., Clev__ 1,587
&
Cln.
Seasongood
Mayer,
1,359
Tlllotson&WolcottCo.,Clev. 1,344
A list of the bidders follows:
Lansing, Mich.—Bond Sale.—An issue of $9,000 434%
Aug. 29
for $9,001—the price thus being 100.011.
Lawton, Comanche County, Okla.—Bond Sale.—The
$200,000 reservoir, $40,000 water-works and $40,000 sewer
5% 25-year bonds offered without success on June 20 (V. 90,
p. 1695) were sold on Aug. 29 to the Thos. J. Bolger Co. of
Chicago at par. The securities are in denominations of
$1,000 each and are dated July 1 1910. Interest semi¬
Adams & Co., New York
101.375 Isaac W. Sherrill, Poughk’sle 100.67
N. W. Harris & Co., N. Y___101.279 John J. Hart, Albany
101.48
par
Douglas Fenwick & Co.,N.Y. 101.278 Lake Sh. Sec. Co., Dunkirk-All bidders offered accrued Interest In addition to their bids.
Denomi¬
nation $1,650.
Date Aug. 1 1910.
Interest semi-annual.
These bonds
were offered without success as 4 J^s (V. 91, p. 416) on Aug. 10.
Gr*>enburgh (Town) Union Free School District No. 2
(P. O. Irvington), Westchester County, N. Y.—Bond Offer¬
ing .—Proposals will be received until 8 p. m. Sept. 15 by
Edwin Wood, District Clerk, for $80,000 434% 2-17-year
(serial) coupon (with privilege of registration) school-building
and site-purchase bonds.
These securities are part of an is¬
sue of $180,000 bonds.
Authority Chapter 319, Laws of 1910, and Section 43a of the Education
Laws.
Denomination $1,000.
Date July 1 1910.
Interest semi-annually
In New York exchange at the Irvington National Bank In Irvington.
The
$180,000 bonds mature $5,000 yearly
Jan. 1 from 1912 to 1947 inclusive.
Certified check for 2% of bonds bid for, payable to the Treasurer, and
drawn on a national or State bank or trust company, Is required.
This
district has no debt at present.
Assessed valuation for 1909, $10,896,860.
The bonds will be delivered on or before Sept. 20 1910.
on
Harrisburg, Pa.—Bond Offering.-—Proposals will be re¬
Sept. 19 by Henry W. Gough, City
Comptroller, for $91,000 4% coupon city bonds.
First National Bank
_
l'
*
V
Chestnut Street paving bonds was disposed of on
annual.
Lexington School District (P. O. Lexington), Richland
County, Ohio.—Bond Sale.—On Sept. 2 $1,500 4% heating-
plant bonds were awarded to the Lexington Savings Bank
at par.
Denomination $300.
Date Sept. 2 1910.
Interest annual.
part yearly on Sept. 2 from 1912 to 1916 Inclusive.
5% gold registered road-improvement bonds of Road Dis¬
Denomination $1,000.
Date Sept. 1 1910.
Interest semi-annually at
the City Treasurer’s office.
Maturity Sept. 1 1915. Bonds will be certified
as to their genuineness by the United States Mortgage & Trust Co. of
New York City, and the legality approved by John G. Johnson of Philadel¬
or
Maturity
Live Oak County (P. O. Oakville), Tex.—Bonds Author¬
ized.—This county has authorized the issuance of $25,000
trict No. 1.
Bonds to be delivered on or about Oct. 1 1910. Purchaser to pay accrued
Interest from Sept. 1.
Printed form of proposal furnished by city.
-
For one Issue.
ceived until 2 p. m.
phia, whose opinion will be delivered to the purchaser. Certified check
(or cash) for 2% of bonds bid for, payable to the,City Treasurer, Is required.
251 Hayden, Miller & Co.,Clev_$l,290 00
60 j Otis & Hough, Cleveland.. 1,210 00
751 Well, Roth|&JCo.,ICln
*320 00
781
Denomination $1,000.
Date Aug. 8 1910. Interest annually In Oakville
Austin.
Maturity 40 years, subject to call after 10 years. Total debt,
Assessed valuation 1910, $1,300,000.
this issue.
Lodi, Medina County, Ohio.—Bonds Voted.—Papers state
that an election held Aug. 23 resulted in a vote of 143 to 48
in favor of a proposition to issue $2,060 water-system-
xtension bonds.
^
Sept. 101910;]
THE CHRONICLE
Bonds Defeated.—It is further reported that at the same
election the question of issuing $7,000 sewage-disposal
bonds was defeated.
Los Angeles,
passed
on
Gal.—Bond* Authorized.—Ordinances were
Aug. 30 providing for the issuance of the $3,500,000
Eower-plant
$3,000,000
harbor-improvement
4)4%
onds voted and
April
19. See V.
91, p. 230. It is under¬
Mhri&r, Salt Lake County, Utah.—Bond Sale.—E. H.
purchased $20,000 5% 10-20-year
(optional) waterworks bonds on Aug. 30 at 97.50 and ac¬
Rollins & Sons of Denver
crued interest.
Denv.*$2O,0lO|C.
*
on
stood that a friendly suit is to be started
Court to test the legality of these issues.
in the Superior
Lucas County (P. O.
Toledo), Ohio.—Bond Offering.—
Proposals will also be received until 10 a. m. Sept. 12 by
Chas. J. Sanzenbacher, County Auditor, for $40,000 4)4%
bonds for the erection of a tuberculosis hospital.
The other bidders
Jas. H. 0*usey & Co.,
S. A. Kean & Co., Chicago.
19,5001
were:
H. Coffin, Chicago
..$19,401
For 6% bonds.
The above bids, we are
fied or cashier’s check.
advised,
were not
accompanied by either
a certi¬
Neligh School District No. 9 (P. O. Neligh), Antelope
County, Neb.—Bond Election.—An election will be held to¬
day (Sept. 10) to vote on a proposition to issue $8,000 5%
bonds.
Maturity Nov. 1 1930, subject to call after 3 years.
Bedford, Mass.—Bond Sale.—On Sept. 7 the $100,the $100,000 municipal-building and the $75,000
library 4% registered bonds described in V. 91, p. 603, were
Bond Sale.—The $7,540 4)4% road-improvement bonds sold to N. W. Harris & Co. of Boston at 101.397 and accrued
described in V. 91, p. 541, were purchased on Aug. 30 by interest. The water bonds mature part yearly on Sept. 1
Seasongood & Mayer of Cincinnati at 101.332 and accrued from 1911 to 1940 inclusive and the building and library
bonds mature part yearly on Sept. 1 from 1911 to 1930
interest.
The following proposals were submitted:
Denomination $500.
Date Sept. 22 1910. Interest semi-annually at
the County Treasurer’s office.
Maturity $4,000 yearly on Sept. 22 from
1911 to 1920 Inclusive.
Cash or certified check for $1,000 on a Toledo
bank Is required.
Bonds will be delivered Sept. 22.
Seasongood & Mayer, Cln
Breed & Harrison, Cln
Maturity part yearly on
,
Premiums.}
Premiums.
$100 50[Citizens’ Safe Dep. & Tr. Co._$60 93
91 23! Stacy & Braun, Toledo
57 08
Sept. 9 from 1912 to 1920 Inclusive.
On Sept. 6 the $3,774 4)4% stone and gravel road-building
fund bonds described in V. 91, p, 603, were sold to Season-
good & Mayer of Cincinnati at 101.649.
were
received:
Seasongood & Mayer, Cln__$3,$36 251 Citizens’
Stacy & Braun,
The following bids
Safe
Deposit
Toledo
3,821 35|
Trust Co., Toledo
Maturity part yearly from 1912 to 1920 inclusive.
&
New
000 water,
inclusive.
A list of the bidders follows:
N. W. Harris & Co
101.397 Blodget & Co
Perry, Coffin & Burr
101.31
101.088
101.035
100.956
Lee. Hlgginson & Co
Blake Bros. & Co
Estabrook & Co
101.18
101.15
Merrill, Oldham & Co
101.089
Old Colony Trust Co_.
R. L. Day & Co..
100.949
The above bidders are all of Boston
New Castle County (P. O. Wilmington), Del.—Bond Sale.
*■
$3,802 00
Madera School District, Madera GOunty, Gal.—Bond Offer¬
—On
Sept. 6 the $80,000 4% gold
ment bonds described in
coupon
V, 91, p. 603,
highway-improve¬
were
sold to the Wil¬
mington Savings Fund Society of Wilmington for $77,509 69
—the price thus being 96.887.
Maturity $15,000 yearly on
July 1 from 1956 to 1959, inclusive, and $20,000 on July 1
ing.—According to report, the Supervisors of Madera County
(P. O. Madera) will receive proposals until 10 a. m. Sept. 19
for $75,000 5% bonds of this district.
Certified check for 1960.
Newton County (P. O. Kentland), Ind.—Bonds to Be
5% required.
Marion Gounty (P. O. Jefferson), Tex.—Bond Sale.—The Re-Offered.—We are advised that the $63,500 bonds offered
Marion County Permanent School Fund recently purchased without success on June 25 (V. 91, p. 110) carried 4)4%
$28,000 4% 10-40-year (optional) refunding bonds that were interest, and not 5%, as at first reported. Our informant
further states, however, that the Commissioners intend to
registered by the State Comptroller on Aug. 27.
re-offer them as 5s.
Marion Gounty School District No. 24, Ore.—Bond Offer¬
New York City .—Bond Sale.—The bonds below were
ing.—Proposals will be received until 5 p. m. Sept. 15 by
J. G. Moore, County Treasurer (P. O. Salem), for the follow¬ purchased by the Sinking Fund of this city at par during the
month of August:
ing 5% coupon bonds:
$35,000 bonds, dated Oct. 1 1910.
Of this Issue $10,000 Is for school sites,
$12,000 for repairs, $13,000 to refund old bonds.
15,225 bonds, dated Nov. 1 1910, to refund popular loan notes.
4,400 bonds, dated Dec. 1 1910, to refund popular loan notes.
Authority Sub. 31, Sec. 3389, Bellinger and Cotton’s Annotated Codes
and Statutes of the State of Oregon; also election held July 29 1910.
Denomination $1,000, except fractional portions of Issue.
Interest semi¬
annually at Salem or bank in New York City, at the option of the purchaser.
Maturity 20 years, subject to call after 10 years. Certified check for $1,000
Is required.
Purchaser to furnish lithographed bonds at his own expense.
Official circular states that no previous Issue of bonds has been contested
and that the principal and Interest of all bonds previously Issued have been
paid promptly at maturity; also that there Is no controversy or litigation
pending or threatened affecting the corporate existence or the boundaries
of said district, or the title of Its present officials to their respective offices,
or the validity of the bonds.
Purpose—
Int.Rate.Maturity.
Various municipal purposes
Water bonds
3
3
4
Rapid transit bonds
Amount.
1959
1959
1959
$53,450
119,600
6,790
Total
also issued
$179,840
during August:
Revenue bonds,
Revenue bonds,
Revenue bonds,
Revenue bonds,
Revenue bonds,
Interest.
4 X
4 y%
3 H
3 ^
current expenses
current expenses
current expenses
current expenses
special
4
3
Revenue bonds, special
Amount.
$250,000
*961,520
2,600,000
1,100,000
300,000
150,000
%
Massena, St. Lawrence County, N. Y.—Bonds Not Sold.—
Total
$5,361,320
The $40,000 4% coupon highway and bridge bonds offered
on Sept. 2 and described in Y. 91,
Payable
In
£
sterling.
p. 353, failed to attract
Niles School District (P. O. Niles), Berrien County, Mich.
any bidders.
Middlesex County (P. O. Lowell), Mass.—Temporary Loan. —Bonds Defeated.—The election held Aug. 29 resulted in
—On Sept. 6 this county borrowed $100,000 from Bond & the defeat, by a vote of 164 “for” to 170 “against,” of the
Goodwin of Boston at 4.15% discount. The loan is due proposition to issue the $35,000 additional school-building
bonds mentioned in Y. 91. p. 542.
Nov. 10 1910.
North Attleborough, Mass.—Note Sale.—An issue of
Milford Independent School District (P. O. Milford), Ellis
$48,000
4% coupon sewer notes was sold on Sept. 7 to EstaCounty, Tex.—Bonds Awarded in Part.—This district has
brook & Co. of Boston at 102.78.
sold $15,000 of the $20,000 5% 20-40-year
(optional) school¬
Denomination $1,000.
Date Nov. 1 1909.
Interest semi-annually In
building bonds offered on May 17 (V. 90, p. 1316) to the Boston.
Maturity $8,000 yearly on Nov. 1 from 1934 to 1939, Inclusive.
State School Fund at par and interest.
As stated in V. 91, The notes are exempt from taxation.
p. 417, $10,000 were purchased on Aug. 1.
The other $5,000
North Dakota.—Bonds Purchased by State During
August.
were taken by the State on
Sept. 1.
—The following issues of 4% bonds,
aggregating $201,550,
Monrovia, Los Angeles County, Cal.—Bond Election Pro¬ were purchased at par during August with State funds:
Bonanza School District, Morton County—$1,500 building bonds, dated
posed.—Reports state that an election will be held in the
1 1910 and due July 1 1930.
near future to vote on
propositions to issue $50,000 water- July
Butte School District, McLean County—$3,500 building bonds, dated
system and $120,000 sewer-system-construction bonds.
July 1 1910 and due July 1 1930.
Crane Creek School District, Montrall County—$1,500
building bonds,
Monrovia High School District, Los Angeles County, Cal. dated
July 1 1910 and due July 1 1925.
—Bond Offering.—Proposals will be received until 2
Eden School District, Bowman County—$1,600
building bonds, dated
p. m.
1 1910 and due July 1 1925.
Sept. 12 by the County Board of Supervisors, C. G. Keyes, July
* Grand
Forks (City)—The following bonds, dated March 1 1910:
ex-officio Clerk (P. O. LoS Angeles), for the $125,000
5% $75,000 paving bonds, due $3,000 yearly on May 1 from 1911 to 1915
inclusive, $4,000 yearly on May 1 from 1916 to 1929 Inclusive and
gold building bonds mentioned in V. 91, p. 542.
$4,000 Feb. 28 1930
•
Denomination $1,000.
County Treasury
Date Sept. 12 1910.
Interest annually at the
on Sept. 12 as follows: $3,000 yearly from
Maturity
1913 to 1941 Inclusive, $4,000 from 1942 to 1948,
Inclusive, and $5,000 In
1949 and In 1950.
Certified check for 3% of bonds bid for, payable to the
Chairman of the Board of Supervisors, Is required.
Purchaser to pay
accrued Interest.
Morrison, Whiteside
County, Ill.—Bond Election.—An
Sept. 12 to vote on the question of issu¬
ing $9,000 5% paving bonds. Maturity $1,000 in 1914 and
$2,000 yearly from 1915 to 1918 inclusive.
Mt. Healthy, Hamilton County, Ohio.—Bond
Offering.—
Proposals will be received until 12 m. Sept. 15 by Geo. J.
Paris, Village Clerk, for $2,393 84 5% St. Clair Avenue
election will be held
improvement assessment bonds.
Denomination $240, except one bond for $233 84.
Date Aug. 1 1910.
Interest semi-annually at the First National Bank of Mt. Healthy.
Ma¬
turity $233 84 on Aug. 1 1911 and $240 yearly on Aug. 1 from 1912 to 1920
Inclusive.
Purchaser to pay accrued Interest.
Mt. Pleasant School District (P. O. Mt. Pleasant), Isa¬
bella Gounty, Mich.—Bond Sale.—The Bumpus-Stevens Co.
of Detroit was the successful bidder on Aug. 27 for the $7,000
4)4% 1-10-year (serial) bonds described in V. 91, p. 479.
35,000 water-works bonds, due $1,000 yearly on May 1 from 1911
fa 1915
Inclusive, $2,000 yearly on May 1 from 1916 to 1929 Inclusive and
$2,000 Feb. 28 1930.
25,000 light-plant bonds, due $1,000 yearly on May 1 from 1911 fa 1925
Inclusive, $2,000 yearly on May 1 from 1926 to 1929 Inclusive and
$2,000 Feb. 28 1930.
Grant School District No. 38, Kidder County—$1,200
building bonds,
dated July 1 1910 and due July 1 1920.
Kane School District (Lakota), Nelson County—$18,000
building bonds,
dated July 1 1910 and due July 1 1930.
:
Layton School District No. 28, McHenry County—$3,750 building bonds,
dated July 1 1910 and due July 1 1930.
Medlcide Hill Schoot District, McLean County—$1,500
building bonds,
dated July 1 1910 and due July 1 1920
Michigan City School District, Nelson County—$3,200 refunding bonds,
dated March 1 1910 and due March 1 1930.
Mountain View School District, Dunn County—$1,300
building bonds,
dated July 1 1910 and due July 1 1925.
Northwood (City), Grand Forks County—$7,000 city-hall bonds,
dated
May 2 1910 and due $3,000 May 1 1915 and $1,000 yearly on May 1 from
1916 to 1919 Inclusive.
Osago (Pekin) School District, Nelson County—$9,500 building bonds,
dated July 1 1910 and due
July 1 1930.
Pleasant (Sawyer) Schpol District, Ward County—$10,000
building
bonds, dated July 1 1910 and due July 1 1930.
r.
Porter School District, pickey County—$3,000
building bonds, dated
Aug. 10 1910 and due Aug. 10 1920.
.
*
Previously reported in V. 90,
p.
251.
.
.,
1
THE CHRONICLE
668
We
are
advised that the State has
now
discontinued the
purchase of bonds of municipalities on account of a lack of
funds available therefor.
It is not likely, our informant
adds, that the State will be able to buy any more bonds issued
by|municipalities for about two years. The State will con¬
tinue, however, to purchase bonds issued by school districts.
At present the State holds about $5,000,000 worth of bonds
Hamilton County, Ohio.—Bond Offering.—
Proposals were asked for until 12 m. yesterday (Sept. 9)
by L. H. Gebhart, City Auditor, for the following 4)^%
assessment bonds:
$8,943 22 Beech Street Improvement bonds.
Date August 5 1910.
1,520 57 Side-walk-construction bonds.
Date July 21 1910.
1,894 14 Melrose Avenue Improvement bonds.
Date August 5 1910.
2,583 38 Mentor Avenue Improvement bonds.
Date July 21 1910.
5,484 30 Lawn Avenue Improvement bonds.
Date July 21 1910.
8,900 10 Ridgewood Avenue Improvement bonds.
Date Aug. 5 1910.
Date August 5 1910.
1,455 32 sidewalk-construction bonds.
2,735 39 Bell Street Improvement bonds.
Date June 30 1910.
Interest annual.
Maturity one-tenth of each Issue yearly from 1911
to 1920 Inclusive.
It is provided that the amount of said bonds may be
reduced If part of the assessment In anticipation of which they are issued is
paid in cash. The result of this offering was not known to us at the hour
of going to press.
Oceanside, Cal.—Bond Election.—According to reports,
election will be held Sept. 14 to allow the voters to deter¬
mine whether or not $20,000 5% water-system-improvement
an
All bidders offered accrued interest in addition to their bids.
Pottsville, Schuylkill County, Pa.—Bond Sale.—The
$50,000 4% 10-30-year (optional) coupon paving bonds
(sixth series) described in V. 91, p. 542, were disposed of on
Sept. 6 as follows: $3,000 to C. L. Erdman, $10,000 to Geo.
W. Zeh and $27,000 to the Safe Deposit Bank, all of Potts¬
ville; $3,000 to L. J. Whims of St. Clair and $7,000 to “seven
others.”
The price paid was par and interest for $45,000
bonds and 101.70 and interest for $5,000 bonds.
Quincy, Norfolk County, Mass.—Bond Sale.—The follow¬
ing coupon bonds described in V. 91, p. 604, were sold on
Sept. 7, it is stated, to Blodget & Co. of Boston at 100.034: *
$12,140 4H% “surface-drainage loan of 1910” bonds due $6,140 on July 1
1912 and $6,000 on July 1 1913.
4,100 4% “street-improvement and miscellaneous purposes” bonds due
July 1 1912.
1,400 4% “sidewalks loan of 1910’ ’bonds due July 1 1911.
1,000 4% “Ward Four surface loan” bonds due Aug. 1 1911.
Rochester, N. Y.—Note Sales.—On Sept. 2 $100,000
water-works-improvement-renewal notes were awarded to
H. Lee Anstey of New York City at 100.68 for 6s.
Prin¬
cipal and interest will be payable 8 months from Sept. 6 1910
at the Union Trust Co. in New York City.
Note Offering.—Proposals will be received until 2 p. m.
Sept. 13 by Chas. F. Pond, Cty Comptroller, for the follow¬
ing notes: $125,000 for water-works-improvements, $50,000
for altering the water-pipe line on Pinnacle Ave. and $30,000
for a water-pipe line from Rush reservoir to Industry.
bonds shall be issued.
Ocheyedan, Osceola County, Iowa.—Purchasers of Bonds.
the pur¬
—Geo. M. Bechtel & Co. of Davenport were
chasers of the $12,000 water-works bonds disposed
354)
p.
on
July 22.
Denomination $1,000.
turity July 1 1930.
of (V. 91,
They paid par for 53^s.
Date July 1 1910.
Interest semi-annual.
Ma¬
Ogden, Utah.—Bonds Proposed.—Local papers report that
city proposes to issue $100,000 conduit bonds.
Ontario, San Bernardino County, Cal.—Bond Election.—
The election to vote on the $175,000 municipal water system
bonds mentioned in V. 91, p. 542, will be held on Sept. 16.
Ontario School District, San Bernardino County, Cal.—
Bond Bids.—The following bids were received on Aug. 22
for the $12,500 5% 16-40-year (serial) gold school bonds
awarded on that day to Barroll & Co. of San Francisco at
104.38 (V. 91, p. 603):
this
Rate of Interest and denomination of notes desired to be designated by
the bidder.
Principal and Interest will be payable eight months from Sept.
16 1910 at the Union Trust Co. in New York City.
The $100,000 local-improvement-renewal notes due May 12
1911 and described in V. 91, p. 604, were disposed of on
Sept. 8 to H. Lee Amstey of New York City at 100.0015
for 4.93s.
Roseville, Placer County, Cal.—Bond Offering.—Further
are at hand relative to the offering on Sept. 12 of the
$78,500 sewer-construction bonds mentioned in V. 91, p. 481.
Proposals will be received until 8 p. m. on that day by
J. H. Stineman, City Clerk.
details
Fran..$13,047 50 E.H.Rollins & Sons, S.F,_$13,008 75
G.G.Blymyer & Co., S.Fr. 13,026 00 Jas.H.Adams&Co.,LosAn_ 12,935 50
N.W.Halsey & Co., S. F,_ 13,021 50 Wm.R.Staats&Co.,LosAn. 12,913 00
All bidders offered accrued Interest In addition to their bids.
Barroll & Co., San
Orange, Orange County, Va.—Bond Sale.—The National
Orange purchased on Aug. 15 at 100.001 the $10,000
5% 15-30-year (optional) coupon water-works bonds
described in V. 91, p. 418.
Ottawa, La Salle County, Ill.—Bond Sale.—The $23,000
5% bridge bonds described in V. 91, p. 603, were sold on
Sept. 6 to N. W. Halsey & Co. of Chicago at 104.875—a
basis of about 4.454%.
The following bids were received:
Denomination $1,000, except one bond for $500.
Date Oct. 1 1910
Maturity $2,000 yearly on Oct. 1 from 1911 to 1948 inclusive and $2,500 in
1949.
Certified check for 5% of amount of bid, payable to the City Treas¬
urer, is required.
Purchaser must be prepared to take bonds within 30
days after notice that they are ready for delivery.
Bank of
104.875 C. H. Coffin
104.58
Thos. J. Bolger & Co
N. W. Halsey & Co
A. B. Leach & Co
San Benito Independent School District (P. O. San Benito),
Cameron County, Tex.—Bonds Awarded in Part.—This dis¬
trict has sold $17,500 of the $25,000 5% 5-40-year (optional)
registered by the State Comptroller on June 2 (V. 90,
1698) to the State School Fund at par and interest. $5,000
were bought on Sept. 1 and $12,500 on Aug. 1.
See V. 91,
bonds
.102.18
p.
101.09
Farson, Son & Co..
—101.02
Emery, Peck & Rockwood._104.38
Woodin, McNear & Moore... 103.58
Cutter, May &Co
100.69
Well, Roth & Co
103.13
Wm. R. Compton & Co
100.32
102.77
E. H. Rollins & Sons
The above bidders are all of Chicago.
Maturity $1,000 yearly on July 1
from 1911 to 1929 inclusive and $4,000 on July 1 1930.
Pacific County School
—An issue of $23,000
p.
*
The other bidders were:
| E.H.Rolllns & Sons,Chic.*$23,025 0
For 6s.
Denomination $1,000.
Date Sept. 1 1910.
Interest annual.
Page County (P. O. Clarinda), Iowa.—Bond Sale.—On
Aug. 25 $16,500 of the $29,500 6% Drainage District No. 7
coupon
bonds described in V. 91,
p.
480, were awarded, it is
stated, to local investors at 100.75. The amount of the
issue was reduced by the payment in cash of part of the as¬
sessments.
Maturity one-fifth yearly in December from 1916
to 1920 inclusive.
Parker, Turner County, So. Dak.—Bonds Voted.—a re¬
stated, in favor of a proposition
the construction of a city audi¬
torium.
The vote is reported as 190 to 8.
Pittsburgh, Pa.—Bond Election Proposed.—At a meeting
of the Common Council on Sept. 7 the Mayor recommended
for submission to the voters at the general election, Nov. 8,
propositions to issue bonds for various purposes, aggregat¬
ing $10,305,000. The ordinances were referred to the
Finance Committee, which subsequently made a favorable
report. It is expected that the Council will meet at 2 p. m.
to-day (Sept. 10) to take up the bills on first reading.
Porterville, Tulare County, Cal.—Bond Sale.—On Aug. 29
the $60,000 (3 issues) 5% 1-40-year (serial) gold coupon bonds
described in V. 91, p. 542, were awarded, it is stated, to the
cent election resulted, it is
to issue $10,000 bonds for
First National Bank of Porterville at 102.77.
Portland, Ore.—Bids.—The following bids
on
were
received
Aug. 29 for the $250,000 4% gold bridge-construction
day to Ladd & Tilton of Portland
bonds awarded on that
at 93.08 and interest:
Ladd & Tilton, Portland—93.08 for $250,000 bonds.
Merchants’ Loan & Trust Co., Chicago—93.06 for $250,000 bonds.
O’Connor & Kahler, New York—92.31 for $250,000 bonds.
Woodmen of the World—91.88 for $50,000 bonds.
Hibernia Savings Bank (32 bids)—93 for $47,500 bonds.
Ukase Investment Co.—93 for $10,000 bonds, 94 for $10,000 bonds and
|r95 for $5,000 bonds.
Ohio.—Bond
Sale.—The
$400
4%
9-year
Sandusky County (P. O. Fremont), Ohio.—Bond Sale.—
Dispatches state that $6,348 4^% road bonds were sold on
Sept. 1 to the First National Bank of Fremont for $6,395—
the price thus being 100.74.
San Francisco, Cal.—Second Installment of Geary Street
Bonds All Sold.—All of the second installment of $240,000
43^% Geary St. Ry. bonds have been disposed of, according
to local papers.
As stated last week (V. 91, p. 604), $200,000 had been sold up to Aug. 24.
Shreveport, La.—Election on the Commission Form of
Government.—An election will be held Sept. 15, it is stated,
to vote on the commission plan of government.
Silver Bow County (P. O. Butte), Mont.—Bond Offering.—
Proposals will be received until 2 p. m. Sept. 20 by M. Kerr
Beadle, County Clerk, for $250,000 coupon court-house-com¬
pletion bonds at not exceeding 5% interest. These bonds
are part of an issue of $750,000 voted July 23 1907, of which
$500,000 have been sold to the State of Montana.
Aug. 13 to the State of Washington at par for 5)^% 1-10-year
(optional) bonds.
419. •
Sandusky,
bonds offered without success on July 11 (V. 91, p. 232)
have been sold at private sale to the Oakland Cemetery, En¬
dowment Trust Fund of Sandusky.
District No. 36, Wash.—Bond Sale.
funding bonds was disposed of on
S. A. Kean & Co., Chic..*$23 248 40
lxxxxi.
Meier & Frank Co.—93 for $25,000 bonds.
Women of Woodcraft—91.81 for $10,000 bonds.
Joseph Simon—93 for $7,500 bonds.
United States National Bank—93 for $5,500 bonds.
Irvington Investment Co.—92 for $5,000 bonds
Olds, Wortman & King—Par for $2,500 bonds.
Gay Lombard—93 for $2,500 bonds.
Merchants’ National Bank—93 for $2,000 bonds.
R. E. Menefee—93 for $1,000 bonds.
Woodward, Clarke & Co.—93 for $1,000 bonds.
of all kinds.
Norwood,
[Yol.
Denomination $1,000.
Date Nov. 1 1910.
Interest Jan. 1 and July 1
subject to call after Nov. 1 1920.
Certi¬
2% of bid is required with each bid sub¬
In Butte.
Maturity Nov. 1 1930,
fied check on a national bank for
mitted, except that of the State Board of Land Commissioners.
Mahoning County,
Ohio.—Bond Offering.—
m. Sept. 14 by L. S.
Creed, Village Clerk, for $3,000 5% Elm and Short streets
Struthers,
Proposals will be received until 12
'
sewer-construction-assessment bonds.
Authority Section 2835, Revised Statutes.
Date
Denomination $500.
Interest semi-annual.
Maturity $500 yearly on Oct. 1 from
Certified check for $100, payable to the Village
Inclusive.
required.
Purchaser to pay accrued Interest.
Oct. 1 1910.
1911 to 1916
Treasurer, is
Suffolk, Nansemond County, Va.—Bond Offering.—Pro¬
posals will be received until 12 m. Sept. 15 by R. S. Boykin,
Town Treasurer, for $30,000 5% coupon refunding bonds.
Authority, Chapter 293 of Act of Assembly of Virginia of 1908.
De¬
nomination $500.
Date Aug. 1 1910.
Interset Jan. 1 and July 1 at the
Town Treasurer’s office.
Maturity Aug. 1 1920. Certified check for 10%
of bid, payable to the Town Treasurer, is required, except that holders of
the maturing bonds to be redeemed will not be required to forward such
certified check with a bid for the new bonds not exceeding the amount of
old bonds held by them.
The above bonds were disposed of on June 14 at par to the
parties holding the old bonds, which were to be redeemed.
Sept. 10 1910,
THE CHRONICLE
See V. 91, p. 232.
They are now being re-advertised, we
are advised, “to conform to a special law.”
Bonds Not Yet Sold.—No sale has yet been made of the
$40,000 4J^% 50-year coupon school bonds, offered without
success on July 1 (V. 91, p. 232), as they are
being “held
temporarily to satisfy some requirement of the school law.”
Summit, Union County, N. J.—Bond Offering.—Pro¬
posals will be received by the Common Council until 8:30
p. m. Sept. 20 for $72,000 4>^% funding bonds.
Denomination $1,000.
Maturity 30 years.
Certified check
for 1% of bid, payable to the “City of Summit,” Is required.
Rowe Is City Clerk.
(or cash)
J. Edw.
Both of the above issues are dated Sept. 20 1910.
Interest semi-Annn.i
Certified check drawn on a national bank in the following
with bids: for the $67,700 Issue, $1,300; for $9,000 Is8ue7$200
amouS rSSSd
requlred
The official notice of this bond offering wiU be
the advertisements elsewhere in this Department.
Turlock
Authority Ordinance No. 3982, approved Jan. 6 1910.
Denomination
Interest semi-annually at the fiscal agency of the State of Wash¬
$1,000.
Maturity 20 years. For all Information apply
ington In New York City.
to John F. Meads, City Comptroller.
The
official notice of this bond offering will be found
Department.
among
the advertisements elsewhere in this
Thermopolis, Fremont County, Wyo.—Bond Sale.—The
$15,000 6% coupon sanitary-sewer bonds described in V. 91,
p.$294, were awarded on Aug. 1, it is stated, to W. B. Metheny of Thermopolis.
Maturity Aug. 1 1930, subject to call
after Jan. 1 1921.
Thief River Falls, Red Lake County, Minn.—Bond Offering.
—Proposals will be received until 7:30 p. m. Sept. 10 by
N. J. Anderson, City Clerk, for $25,000 armory-completion
bonds at not exceeding 5% interest.
Authority, vote of 250
to 114 at an election held Aug. 23.
Maturity 20 years.
Trenton, N. J.—Bond Offering.—Proposals will be re¬
ceived until 12 m. Sept. 20 by H. E. Evans, City Treasurer,
for the following 4^2% bonds:
$67,700 registered or coupon refunding bonds.
Maturity Sept. 20 1920.
9,000 registered street department bonds.
Maturity Sept. 20 1930.
NEW LOANS.
836,000
Union Free School District No. 1,
Town of Deerpark, Orange County, N. Y.,
Bonds
Sale of School District Bonds
Notice is hereby given that the Board of Edu¬
cation of Union Free School District Number One
of the Town of Deerpark, Orange County, New
York, will receive sealed proposals at Its office
In the Municipal Building, Sussex Street, In the
City of Port Jervis, New York, until 8 o’clock
n
the evening on
WEDNESDAY, SEPTEMBER 21ST, 1910,
for the purchase of thirty-six (36) bonds of said
District of the denomination of One Thousand
Dollars ($1,000) each, numbered from 1 to 36,
Inclusive, and bearing Interest at the rate of four
and one-half per cent (4 y2%) per annum, paya¬
ble semi-annually at The First Natloanl Bank of
Port Jervis to the holder thereof In New York
Exchange.
Said bonds will not be sold below par, will be
dated October 1. 1910, and will mature, respec¬
tively, as follows:
Numbers 1 and 2 on October 1, 1911:
Numbers 3 to 26, Inclusive, one on October 1st
of each year thereafter in their order:
Numbers 27 and 28 on October 1, 1936:
Numbers 29 and 30 on October 1, 1937;
Numbers 31 and 32 on October 1, 1938:
Numbers 33 and 34 on October 1, 1939, and
Numbers 35 and 36 on October 1, 1940.
Purchasers will be required to deposit with
their bids In cash, by certified check or by bank
drafts ten per cent (10%) of the amount of such
bonds and pay the balance with accrued Interest,
If any, when such bonds are delivered.
No bids for a portion of such bonds will be con¬
sidered unless the aggregate of. such bids at least
equals the amount of such bond Issue.
The right to reject any and all bids Is reserved.
Dated at Port Jerv Is. New York, September 7th,
1910.
Board of Education of Union Free School District
No. 1 of the Town of Deerpark, Orange
County, New
York,
842,500
Cude
Drainage District, Miss.,
6% BONDS
on
Graham & Jensen—Par for $23,000 bonds.
Grubb & Old—Par for $15,000 bonds.
Hoskins—Par for $15,000 bonds.
Denominations $400 and $100.
Date July 1 1910.
Interest
annual.
Maturity part yearly from 1931 to 1940 Inclusive
semi
ierest sem,“
Twin Township School
District, Ohio.—Bond
Sale —The
$6,500 5% coupon school-building bonds offered on Julv 16
and described in V. 91, p. 171, were disposed of, reports
state, to T. H. Saunders of Cleveland at 102.89. Maturitv
$500 on July 16 1911 and $1,000 yearly on July 16 from 1912
to 1917 inclusive.
Ventura County (P. O. Ventura), Cal.—Bond Election.—
Reports state that Sept. 12 has been decided upon as the
date on which to hold the election to vote on the propositions
to issue the $225,000 court-house and $275,000
bridge and
highway bonds mentioned in V. 91, p. 482.
Walker County Common School District No. 3, Tex.—
Bond Sale.—The Walker County Permanent School Fund
has purchased the $1,200 5% 10-20-year (optional) bonds
which were registered by the State Comptroller (V. 91 p
233) on June 28.
Waterloo, Blackhawk County, Iowa.—Bond Sale.—On
Sept. 6 the $45,000 43^% 20-year coupon funding bonds
described in V. 91, p. 604, were sold to Woodin, McNear &
Moore of Chicago at 100.166.
Purchasers to furnish the
bonds and pay the exchange and accrued interest.
A list of
the bidders follows:
Woodin, McNear&Moore ,Ch_$45,075
w.» vu 1 vagu.d ,UUU
E. H. Rollins & Sons, Chic..*45,252 Farson, Son & Co.,
Chicago. 45,000
H. T. Holtz & Co., Chicago.. 45,046 Harris Tr. & S. Bk.,
Chicago 45,000
Seasongood & Mayer, Cln— 45,000 Wm. R. Compton Co., Chic. 44,100
v
•
•
Bid said to be conditional.
All bidders offered accrued Interest In addition to their bids.
West Brownsville, Washington County,
—The Washington Investment Co. of
Pa.—Bond Sale.
Pittsburgh recently
NEW LOANS.
$100,000 Water Bonds
$67,700 Refunding Bonds
50,000 Harbor Bonds
$9,000 Street Department Bonds
5,000 Fire and PoliceTeregraph
and Telephone Bonds
City of Trenton, N.J.
City of Trenton, N.J.
Trenton, N. J., Sept. 7th, 1910.
PROPOSALS will be received al
Office of City Treasurer,
Trenton, N. J., Sept. 2nd, 1910.
SEALED PROPOSALS will be received at this
office until 12 o’clock noon. Thursday,
September 15th, 1910,
for the purchase of the whole of $100,000 of City of
Trenton, N. J., thirty-year, four and one-half per
cent semi-annual Water Bonds.
Said bonds may be registered or coupon bonds
or
registered and coupon bonds combined, at
the option of the purchaser, and shall be dated
October 1st, 1908, payable October 1st, 1938.
Also for the purchase of the whole of $50,000
City of Trenton, N. J., twenty-year, four and onehalf per cent semi-annual, registered or coupon
Harbor Bonds.
Also ior the purchase of the whole of $5,000,
City of Trenton, N. J., twenty-year, four and onehalf per cent semi-annual registered Fire and Police
Telegraph and Telephone Bonds.
For the payment of all said bonds, the public
faith and credit of the inhabitants of the City of
Trenton is fully pledged.
Each bidder will be required, as an evidence of
good faith, to enclose certified checks
on a National
Bank as follows:
For the $100,000 issue of Water bonds, a check
for $2,000.
For the $50,000 issue of Harbor bonds, a check
for $1,000.
For the $5,000 issue of Fire and Police Tel. and
Tel. Bonds a check for $100.
Checks will be immediately returned to un¬
successful bidders.
The bonds will be awarded to the bidder whose
proposal will be most favorable to the City, but
the right is reserved to reject any or all bids not
deemed for the interest of the City.
Proposals to be sealed and addressed to
H. E. EVANS,
V*
SEALED
VUV
this office until 12 o’clock
noon,
lioaouicif
TuesdayJ
SEPTEMBER 20TH, 1910,
for the purchase of the whole of $67,700
Clty'bl
Trenton, N. J., ten-year four and one-half pei
cent semi-annual
Refunding Bonds.
Said bonds may be registered or
Coupon bonds,
at the option of the purchaser, and shall be
dated
September 20th, 1910, and payable Sept. 20th,
1920.
I
Also for the purchase of the whole of $9,00C
City of Trenton, N. J., twenty-year four and onehalf per cent semi-annual registered
Street De¬
partment Bonds, to be dated September 20th,
1910, and payable September 20th, 1930.
For the payment of all said bonds, the
public
faith and credit of the inhabitants of the
City ol
Trenton is fully pledged.
Each bidder will be required, as an evidence
ol
good faith, to enclose certified check onaNatlonal
Bank as follows:
For the $67,700 Issue of
Refunding Bonds a
check for $1,300.
For the $9,000 issue of Street
Department
Bonds a check for $200.
Checks will be Immediately returned to unsuc¬
cessful bidders.
The bonds will be awarded to the bidder
whose
proposal will be most favorable to the City, but
the right 4s reserved to reject any or
all bids not
deemed for the Interest of the City.
Proposals to be sealed and addressed to
*
H. E. EVANS,
City Treasurer.
McCOY & COMPANY
Municipal and
City Treasurer.
Corporation Bords
181
La Salle
Reynolds, Watson & Co.
Municipal and Corporatinn Bonds
Street, Chleage
OTTO JULIUS MERKEL
BROKER
We offer
a
very
exceptional
DRAINAGE
Drainage District of Leflore County,
Mississippi, offers for sale six per cent eleventwenty-vear bonds, in denominations of Five
Hundred Dollars each. In the sum of FORTY1910, at the Court House In Greenwood, Missis¬
sippi;
two per cent deposit.
y
G. W. HOLMES. President.
canal-con¬
struction bonds mentioned in V. 91, p. 232, were sold
Aug. 29 to A. Chat tom at par. The other bidders were-
NEW LOANS.
Cude
TWO
THOUSAND
&
FIVE
HUNDRED
DOLLARS.
Sealed proposals at noon Sept. 16,
amon
Irrigation District (P. O. Turlock), Stanislaus
by
F. R. SALMON, President.
L C. SENGER. District Clerk.
found
County, Cal.—Bond Sate.—The $100,000 5%
The
official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Tacoma, Wash.—Bond Offering.—Proposals will be re¬
ceived until 2 p. m. Sept. 26 at the office of A. V. Fawcett,
Mayor, for $200,000 Green River Gravity Water-system
construction bonds at not exceeding 5% interest.
669
BOND
44 AND 4f WALL
STREET. NEW YORK
INVESTMENT SECURITIES
O—tmmmiimm XitM.
NETTINQ
Bank and Trust
6%
400 The
Rookery
CHICAGO
Company Stocks
NEW YORK AND BROOKLYN
BOUGHT AND SOLD
CLINTON
1 WALL
GILBERT
ST.. NBW YORK.
THE CHRONICLE
670
purchased the $25,000 5% tax-free paving
,
bonds voted
Canada, Its Provinces and Municipalities.
bonds.
Antigonish, N. S.—Debenture Offering.—Proposals will bo
m. Sept.
17 by D. C. Chisholm, Town
Treasurer, for $25,000 4J/^% coupon water-works debentures.
Cal.—Bond Election.—Papers state that an
election will be held Sept. 14 to allow the voters to determine
whether or not $8,000 bonds shall be issued for a public park
on Philadelphia Street.
Wichita, Elan.—Bond Sale.—The following 5% bonds
were sold on Aug. 22 to Spitzer & Co. of Toledo at par:
Whittier,
received until 12
Authority Chapter 62 of the Statutes of Nova Scotia, 1910. Interest
semi-annually at the office of the Town Treasurer. Maturity 30 years.
Balcarres, Man.—Debenture Offering.—Proposals will be
m. Sept. 12 by C. McMahon, SecretaryTreasurer, for $3,500 6% debentures due in 15 years.
Bowmanville, Ont.—Debentures Not Sold.—Up to Sept, 6
no award had yet been made of the $12,000 4^% electriclight debentures, proposals for which were asked (V. 91,
p. 356) until Aug. 15.
Bucke Township, Ont.—Debentures Authorized.—This
township, it is stated, has passed a by-law to issue $7,000
received until 12
$123,060 27 sewer bonds, due part yearly from 1 to 10 years.
175,000 no sewer bonds, due part yearly from 1 to 10 years.
25,000 00 park bonds, due In 10 years.
Denomination $1,000.
Date July 1 1910. Interest semi-annual.
Wyandotte, Wayne County, Mich.—Bond Offering.—ProSept. 14 by John L.
ullivan, City Clerk, for $25,000 4^% coupon water-worksextension bonds voted on Aug. 15 (V. 91, p. 483).
osals will be received until 7:30 p. m.
Date Oct. 1 1910. Interest semi-annually at
City Treasurer’s office, at option of holder.
Certified check for 2% of bonds is required.
school debentures.
^Denomination $1,000..
Wyandotte Savings Bank
LXXXXI.
Purchaser must be prepared to take the bonds not later than Sept. 19,
the money to be delivered at one of the city banks or the City Treasurer’*
office.
This city Is now prepared to Issue registered bonds In exchange for
coupon bonds.
curbing and
(V\ 9i, p. 234) on July 5.
Westfield) Chautauqua County, N. Y.—Bond Election.—
An election will be held Sept. 13, it is stated, to vote on the
question of issuing not exceeding $100,000 5% sewerage
sewer
[VOL.
or at
C&lg&ry, Alberta.—Debenture Election.—It is reported
ratepayers will decide Sept 15 whether the following
4^% 30-year debentures shall be issued: $484,000 for a
municipal street railway, $100,000 for parks and cemeteries
and $40,000 for a subway under the C. P. RR.
Chilliwack, B. C.—Debenture Offering.—Proposals will be
Authority Sections 117, 118, 119, &c.. Code of Public Instruction, Laws
received until 12 m. Oct. 1 by J. H. Ashwell, City Clerk, for
of 1897, pages 357 et seq.; also election held Aug. 12.
Date, day of Issue,
or may be dated on the first of some month, at the bidder’s option.
Interest $10,000 road machinery, $10,000 drainage and $15,000
annually at the County Treasurer’s office. Maturity 20 years, subject to
The securities are payable
call after 10 years.
Bonded debt at present, $3,000. Assessed valuation, municipal-hall 5% debentures.
in 20 annual installments of principal and interest, beginning
$393,995.
Youngstown, Ohio.—Bond Offering.—Proposals will be Oct. 1 1911, at the Bank of Montreal in Chilliwack.
received until 2 p. m. Sept. 12 by Wm. I. Davies, City
Oebalt, Ont.—Debentures Voted.—The election held
Auditor, for the following 5% street improvement bonds:
Aug. 31 resulted in a vote of 34 “for” to 4 “against” the ques¬
$5,000 Mahoning Avenue widening bonds; $575 Pountaln Street sewer tion of issuing the $50,000 6% 10-year debentures mentioned
Maturity 30 years.
that the
School District No. 92, Wash.—Bond Of¬
fering.— Proposals will be received until 10 a. m. Sept. 17 by
Frank Bond, County Treasurer (P. O. North Yakima), for
$11,200 coupon building-construction and furnishing bonds
at not exceeding 6% interest.
Yakima County
jf
bonds; $800 Hiram Street grading and sewer bonds; $1,110 Delaware Ave¬
grading and sewer bonds; $7,940 Lane Avenue paving bonds; $4,465
Kensington Avenue paving bonds; $1,545 Logan Avenue paving bonds,
and $6,530 side-walk construction bonds.
Date Sept. 19 1910. Interest
semi-annually at the City Treasurer’s office.
Maturity one-fifth of each
Issue yearly on Oct. 1 from 1912 to 1916 Inclusive.
Each block of bonds
must be bid on separately.
Certified check on a national bank for 2 % of
amount of each block bid on, payable to the City Auditor, Is required.
in V.
91, p. 544.
Dartmouth, N. S.—Debenture Election Postponed.—The
election which was to have been held Aug. 22 on the question
of issuing the $50,000 railway-bonus debentures mentioned
in V. 91, p. 483, was postponed.
nue
NEW LOANS.
NEW LOANS.
NEW LOANS.
$200,000
$72,000
CITY OF SUMMIT, H. J.,
$1 25,000
CITY OF TACOMA, WASH.,
WATER
FUNDING
BONDS
IS
GIVEN that on
HEREBY
SEPTEMBER 26TH, 1910, at two
o’clock p. m., at the office of the Mayor of the
City of Tacoma, Washington, In the City Hall,
sealed bids will be received for bonds numbered
from one (1) to two hundred (200) Inclusive, In
the sum of Two Hundred Thousand Dollars, of
the Issue authorized by Ordinance No. 3982 of
said City, approved January 6th,
1910, and
providing for the construction of the Green River
Said bonds will be gen¬
Gravity Water System.
eral bonds of said City of the par value of $1,000
NOTICE
Monday,
each, payable In twenty years
from date of Issue,
exceeding five per cent per
annunC payable semi-annually at the fiscal agency
of the State of Washington, In New York City,
and
known
as
GREEN RIVER GRAVITY
with Interest at not
WATER SYSTEM BONDS.
Bids for said bonds will be received based on
the Interest rate proposed by the bidder, which
cannot exceed five per cent.
The right Is reserved by the City to award the
bonds or any part thereof to the highest and best
bidder, or to reject all bids; and the right Is also
reserved to require a bond or deposit from a
successful bidder to secure the faithful perform¬
ance of his contract to take and pay for bonds
award cd
For all Information apply to John F. Meads,
City Controller.
26th, 1910.
SINKING FUND BOARD,
Dated Tacoma, Wash.. August
A.
V.
FAWCETT,
Mayor.
MEADS,
City Controller.
RAY FREELAND,
Commissioner of Finance.
JOHN F.
Sealed proposals will
Council of the City of
8:30 p. m. on
TUESDAY. SEPTEMBER 20TH 1910
opened at the last-named hour at a public
meeting of the said Common Council to be held
at the said time at the Municipal Bldg, in the City
of Summit, N. J., for the purchase of the $72,000
Issue of 4 y2% bonds of the City of Summit, N. J.,
of the denomination of $1,000 00 each, payable
In 30 years, Issued to pay off Improvement certifi¬
cates and certificates of Indebtedness under Act
of March 23d 1899, authorizing Incorporated cities,
towns, townships and boroughs of this State to
fund their floating Indebtedness and the matured
and
be enclosed In a sealed
envelope properly endorsed with the name of the
bidder and designating the subject matter of the
bid and directed to the Common Council of the
City of Summit, N. J.
Bidders will state their prices in writing as
well as in figures.
Each proposal must be accompanied by a cer¬
tified check or cash to the amount of one per cent
(1%) of the amount bid; if certified check is fur¬
nished, It shall be made payable to the City of
Summit, N. J., without reserve.
The Common Council of the City of Summit,
N. J., reserve to themselves the right to accept
or reject any proposals tor the above-mentioned
bonds as they may deem best for the Interests
of the city.
By direction of the Common Council of the City
LAWYER
Municipal and Corporation Bondi
1312 FIRST NATIONAL
BANK BLDO..
CHICAGO, ILL.
BONDS
LIST ON APPLICATION
BONDS
00 STATE STREET,
By order of the Board of County Commissioners.
C. T. YOUNG, County Clerk.
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
IRST NATIONAL BANE BUILDING
CHICAGO
Safest Investments
Write for
ffl ftQf.
^ ^ /\J
known. Yielding from
Circular.
ULEN, SUTHERLIN & CO.
BOSTON
NEW TOBK
STATE, CITY & RAILROAD BONDS
BANKERS
CHICAGO
PORRE8T & CO.
BANKERS
421 Chestnut St..
HODENPYL, WALBRIDGE & GO.
Naw York
Railroad, Street Ry., Gas A Elec. Light
SECURITIES
SEAS0NG00D & MAYER
R. T. Wilson & Co.
Marcanttia Library Building
0IB GINN ATI
33 WALL STREET
terest payable at the office of the County Treasurer
of said County on the first days of January and
July of each year.
Bids will be opened at the
office of the County Clerk, ex-officio Clerk of the
Board of County Commissioners of said County,
at Kallspell, Montana, on Tuesday, October 4tn,
A certified check for
1910, at 10 o’clock a. m.
5 per cent of bid to accompany each bid, check
to be returned If bid is reejeted.
The Board re¬
serves the right to reejet any and all bids.
MUNICIPAL BONDS
7 Wall St.,
MUNICIPAL AND RAILROAD
$125,000 00 refunding bonds, the denomination
of said bonds to be $1,000 each, payable in 20
years and redeemable in 10 years, and to bear In¬
terest at not to exceed 5 per cent per annum, In¬
J. EDW. ROWE, City Clerk.
30 PINE STREET,
Specializing in Examination of
Notice is hereby given that Sealed Bids will be
received by the County Commissioners of Flathead County, in the State of Montana, at the office
of the County Clerk, at Kallspell, Montana, on
the 4th day of October, 1910, for the sale of
of Summit. N. J.
BLODGET & CO.
F. WM. KRAFT
County, Montana,
REFUNDING BONDS
BONDS
be received by the Common
Summit, N. J., from 8 to
and maturing bonds.
Each proposal must
Flathead
NEW YORK i
PHILADELPHIA. PA.
Municipal and
Corporation Bonds
ESTABLISHED 1885
H. C. SPEER & SONS GO.
First Nat. Bank Bldg., Chieaga
WESTERN
MUNICIPAL AND
SCHOOL BOND*
Sept. 10 1910.
THE CHRONICLE
Guelph, Ont.—Debenture Election.—An election will be
Sept. 26 to vote on a by-law to issue $85,000 4>^% 30year street-railway debentures.
Havelock School District No. 1514, Man.—Debenture
Of¬
fering.—Proposals will be received until 12 m. Sept. 13 by
Wm. H. Young, Secretary-Treasurer (P. O.
Minnedosa), for
$1,650 6% school debentures. Interest annual. Maturity
part yearly for 10 years.
Irvine, Sask.—Debentures Voted.—The election held Aug.
29 (V. 91, p. 484) resulted in favor of the question of
issuing
the $5,000 6% fire-protection debentures.
Proposals for
Penticton, B. 0.—Debentures Authorized.—According to
reports ' the issuance of $100,000 debentures has been author¬
ized for the purchase of the irrigation system from the Pen¬
held
ticton Water Supply
galtfleet Township, Ont.—Debenture Sale.—We are ad¬
5% 20-year debentures recently
& Co. of Toronto (V. 91, p. 421)
was $9,260.
Stettler, Alberta.—Debenture
Offering.—Further details
offering on Sept. 15 of the $29,000
coupon water-works debentures mentioned in V. 91,
p. 545.
Proposals for these debentures will be received until
6 p. m. on that day by D. Mitchell, Secretary-Treasurer.
are
25-year school and water-works debentures dated Aug. 1
1910 was disposed of during August to the Dominion Securi¬
ties Corporation, Ltd., of Toronto.
Schools District
No.
42, Sask.—Debenture
until Sept. 20 by the
Secretary-Treasurer for $4,000 debentures, repayable in 20
Stewart, B. C.—Loan Authorized.—Reports state that an
passed to borrow $30,000 for public improve¬
order has been
ments.
annual installments.
Maple Greek School District No. SO (P. O. Maple Creek),
Sask.—Debenture Sale.—The $12,000 5% school debentures
described in V. 91, p. 484, were sold on Aug. 31 to J. G.
Mackintosh & Co. of Winnipeg for $11,642
(97.016) and
accrued interest.
Maturity part yearly on June 25 from
Strathmore, Alberta.—Debenture Offering.—Proposals will
by H. J. Spicer, Secretary-Treasurer, for $2,000
Maturity part yearly for 10 years.
be received
debentures.
Vernon, B. 0.—Bids Rejected.—Debenture Offering.—All
.
bids received on Aug. 29 for the four issues of 5% coupon
debentures aggregating $26,000, described in V. 91, p. 357,
1911 to 1940 inclusive.
Muskoka Township, Ont.—Debenture Election.—The
ques¬
rejected.
^Proposals
are again asked for these deben¬
received, this time, until Sept. 12.
Vonda, Sask.—Debentures Authorized.—A by-law has been
passed, it is stated, to issue $8,000 debentures to build and
equip a flour mill.
Whitby, Ont.—Debenture Sale.—During the month of
August $8,550 5% local-improvement debentures were sold
were
tion of issuing $10,000 43^% 30-year
improvement deben¬
tures will be submitted to the voters, it is
stated, on Sept. 14.
Ottawa, Ont.—Debenture Sale.—On Sept. 2 the thirteen
issues of 4% debentures, aggregating $620,507
11, described
in V. 91, p. 113, were sold to the Dominion Securities Cor¬
poration, Ltd., of Toronto, at 97.13.
at hand relative to the
Denomination $500.
Date Sept. 15 1910.
Interest annually In Stettler.
Maturity part yearly on Sept. 15 from 1911 to 1930 Inclusive. These
debentures are tax-exempt.
Debenture debt, not including this Issue,
$43,580. No floating debt.
Assessed valuation 1910, $787,010.
Offering.—Proposals will be received
follows:
Co.
vised that the amount of
awarded to C. H. Burgess
these debentures will be received at any time.
Kelowna, B. C.—Debenture Sale.—An issue of $8,000 5%
Kenistino
671
tures and will be
A list of the bidders
$471,707 11
$148,800 00
Debentures.
Debentures.
Domlnio* *ec. Corp., Ltd., Tor_$458,170 00 (97.13)
$144,53.0 00 (97.13)
Aemilius Jarvis & Co., Toronto. 456,518 00 (96.78)
144,449 00 (97.076)
Wood, Gundy & Co., Toronto.. 455,513 00 (96.565)
144,412 00 (97.051)
Hanson Bros., Montreal
453,074 68 (96.05)
142,922 40 (96.05)
Ontario Securities Co., Toronto. 451,757 00 (95.77)
140,627 00 (94.51)
Brent, Noxon & Co., Toronto... 448,641 00 (95.11)
*141,321 00 (95)
*
Bid said
to
W.
Mackenzie
A.
&
Co.
of
_
be
to
irregular.
TRUST COMPANIES.
Maturity part
TRUST COMPANIES.
The NEW ENGLAND
TRUST COMPANY
SUmotss
BOSTON, MASS.
( APITAL, $1,000,000
SURPLUS. $2,000,000
Safe Deposit Vaults
Authorized
Toronto.
yearly for 20 years. These debentures were offered without
success as 43^s (V. 91, p. 484) on
Aug. 15.
Woodnorth School District No. 1533, Man.—Debenture
Election.—An election will be held to-day (Sept. 10)
to vote
on a by-law to raise $2,000 for school
purposes.
Home
to act as
Executor, and to receive
In trust or on deposit
Equity Executors.
Administrators, Assignees, Guardians, Trustees.
and hold money or
property
nom
Courts of
Law or
Surety Company
Office, 206 La Salle Street
'CHICAGO
WRITES ALL CLASSES SURETY BONDS
Corporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed on Deposits Subject to Check.
_
Court—Fidelity—Contract—Miscellaneous
OFFICERS
The motto
DAVID R. WHITNEY, President
OHARLES F. CHOATE, Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER, Actuary
HENRY N. MARR, Secretary
FRED. W- ALLEN, Asst. Seo. & Treas.
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Offioer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts.
both in the
of the Illinois Surety Company is **Prompt Service**
handling of its business and the adjustment of its losses
CENTRAL TRUST COMPANY
BOARD OF DIRECTORS
of NEW YORK
William Endlcott, Chairman
Walter C. Baylies
James G. Freeman
Alfred Bowdltch
Morris Gray
8. Parker Bremer
James R. Hooper
Timothy E. Byrnes
Ernest Lovering
Oharles F. Choate
Henry H. Proctor
Alexander Cochrane
James M. Prendergast
Philip Dexter
Herbert M. Sears
William Endlcott Jr.
Lawrence M. Stockton
Francis W. Fabyan
Nathaniel Thayer
William Farnsworth
Eugene V. R. Thayer
Frederick P. Fish
David R. Whitney
George WIgglesworth
54
Capital and Surplus, $18,000,000
(of which $ I 7,000,000 has been earned)
Authorized
LYBRAND,
ROSS BROS A
Wall Street
Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
to act
as
MONTGOMERY
Certified Public Accountants
CHARTERED 1864
(Pennsylvania)
NEW YORK,
165
PHILADELPHIA,
PITTSBURGH,
Broadway.
Land Title Bldg
Union Bank Bldg
First National Bank Bldg
CHICAGO,
JAMES PARK
A CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York,
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner 38th Street/,
With Modern Safe Deposit Vaults
Capital $1,000,000
Chicago, Cincinnati, and
London, England.
AUDITORS
FOR
FINANCIAL
INSTITU
TIONS. INDUSTRIAL AND
MINING COMPANIES
Surplus (earned) 57,737,000
ALLOWS INTEREST ON DEPOSITS.
Acts
as
Executor, Guardian, Trustee, Administrator and in all Fiduciary Capacities
on behalf jpf Individuals,
Institution* or Corporations.
(^
Investigations. Financial Statements,
Periodical a udlta and
Accounting
"."i
nsr
[VOL.
THE CHRONICLE
672
LX XXXI.
(&00&S.
FLEITMANN & CO.
484-490 Broome Street,
-
-
NEW YORK
-
IMPORTERS AND COMMISSION MERCHANTS
.
FINANCED
MANUFACTURERS AND ACCOUNTS
484-490 BROOME STREET
8 WASHINGTON PLACE
STREET
59 LEONARD STREET
65 GREENE STREET
458 BROOME
70-72 WORTH STREET
EVERETT BLDG., 4TH AVE. & 17TH ST.
FAULKNER, PAGE & CO
BANKER
Factor and Commission Merchant
Manufacturers’ and other Accounts
Solicited and Financed
CHICAGO
NEW YORK
BOSTON
JAMES TALCOTT
CASHED
SALES
Deposits
Equitable Interest Allowed on
COTTON GOODS
Colored and Gray
Main
Store,
108-110 Franklin
Annexes in New
St., N. Y. City
York and other cities
financial.
DOMESTIC TRADE
AND
EXPORT
NATIONAL LIGHT,
HEAT & POWER COMPANY
HARDING, TILTON & CO.
COMMISSION MERCHANTS
BOSTON
NEW YORK
GUARANTEED
All Issues
BONDS
A. H. Bickmore &
Co.,
BANKERS
New Yerh
30 Pin® Street,
GRAY GOODS and YARNS
Selling Agents for
HOLMES MFG. CO.,
TILTON MILLS,
NYANZA COTTON MILLS
WHITMAN MILLS,
SAM0SET WORSTED MILLS
Adrian H. Muller & Son,
AUCTIONEERS.
Regular Weekly Sales
OF
STOCKS and BONDS
©(rrajnmtes.
EVERY WEDNESDAY
OLD COLONY TRUST COMPANY
Office. No. SB WILLIAM STREET.
Corner Pine Street.
BOSTON, MASS.
Capital and Surplus
$12,500,000
-
DIRECTORS.
T. JEFFERSON
COOL1DGE JR., Chairman Executive
Philip Y. DeNormandie
Philip Dexter
George A. Draper
Charles F. Adams 2nd
F. Lot hr op Ames
Oliver Ames
C. W. Amory
William Amory
Charles F. Ayer
John S. Bartlett
Samuel Carr
B. P. Cheney
Frederic C. Dumaine
William Endlcott Jr.
Wilmot R. Evans
Frederick P. Fish
Reginald Foster
George P. Gardner
Philip L. SaltonstaU
Herbert M. Sears
Quincy A. Shaw
Gardiner M. Lane
Col. Thos. L. Livermore Howard Stockton
Arthur Lyman
Philip Stockton
Charles A. Stone
Charles S. Me lien
Galen L. Stone
Laurence Minot
Nathaniel Thayer
Maxwell Norman
Lucius Tuttle
Hon. Richard Olney
H. O. Underwood
Robert T. Paine 2nd
Eliot Wadsworth
Henry Parkman
Andrew W. Preston
Stephen M. Weld
Sidney W. Winslow
Richard S. Russell
Henry C. Jackson
George E. Keith
Hon.T.JeffersonCoolldge
Jr.
Edwin Faroham Greene
Robert F. Herrick
Alvah Crocker
Walter Hunnewell
Charles W. Whittier
T. Jefferson Coolldge
Charles E. Cottlng
Henry S. Howe
PRESIDENT. PHILIP STOCKTON.
Agent for Trust Companies in Maine, Massachusetts and
FOR
ANNUAL
SEE
COTTON
City Investing Building
165
Brotdwty
Telephone $780 Cortland.
Audits and examinations.
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems
Treasurer. FREDERIC G. POUSLAND
Vice-Presidents. WALLACE B. DONHAM
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Manager Credit Dept., ELMER E. FOYE.
Secretary. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
Authorized Reserve
audit Company
of new York.
The
Committee.
GORDON ABBOTT. Chairman of Board.
FRANCIS R. HART, Vice-Chairman.
WESTERN OFFICE
Now York Life
Rhode Island,
CROP
EDITORIAL PAGES.
of aooounts.
REPORT
Building, Chicago
Sept. 10 1910.]
THE CHRONICLE
xn
©jodtltm (&0O&8.
WOODWARD, BALDWIN & CO
and
43
,
WORTH STREET, NEW YORK
45
SELLING AGENTS FOR THE
Piedmont Mfg. Co.,
Hermitage Cotton Mills
Loray Mills,
Enterprise Mfg. Co.,
Brogon Mills,
Ninety-Six Cotton Mills,
Williamston Mills,
Chiquola Mfg. Co.,
Toxaway Mills,
Brandon Cotton Mills,
Lois Cotton Mills,
Lydia Cotton Mills,
Ottaray Mills,
Woodside Cotton Mills,
Orr Cotton
Mills,
Easley Cotton Mills,
Home Cotton Mills,
Orangeburg Mfg. Co.
Pelzer Mfg. Co.,
Monaghan Mills,
Woodruff Cotton Mills,
Franklin Mills,
Grendel Mills,
Bamberg Cotton Mills,
Glenwood Cotton Mills,
Anderson Cotton Mills,
Belton Mills,
Greenwood Cotton Mills
Victor Mfg. Co.,
F. W. Poe Mfg. Co.,
Saxon Mills,
Fairfield Cotton Mills,
Pickens Mill,
The Carolina Mills,
Eureka Cotton Mills.
Alice Mills
Beaver Dam Mills
SHEETINGS, SHIRTINGS, DRILLS, FINE CLOTHS, OUTING CLOTHS.
ARUNDEL DUCKS, 8, 10, 12 Oz., 29 Inches Wide.
WARREN MFG. CO.
DUCKS, 12
to 146
inches, different weights.
gittanxial.
ERVIN & COMPANY
WILLIAM WHITMAN & CO.
COMMISSION MERCHANTS
BANKERS
78
M
.
Chauncy St., Boston
(New York Stock Exchange,
WORSTED
DRESS GOODS. WORSTED TOPS, WORSTED
YARNS,
MERCERIZED YARNS. COMBED COTTON YARNS
BONDS FOR INVESTMENT.
Building, Philadelphia.
Broadway, New York
ARLINGTON MILLS
***} Philadelphia Stock Exchange.
Drerel
350
THE EDDYSTONE MANUFACTURING CO.
SIMPSON-EDDYSTONE PRINTS
GOBELIN ART DRAPERIES
PRINTED COTTON FABRICS
Long Distance Telephone No. L. D. 107.
NASHAWENA MILLS
FINE COTTON FABRICS,
SPECIALTIES, COTTON
MANOMET MILLS
PARKINSON & BURR
AND
SILK MIXTURES
NONQUITT SPINNING CO.
COMBED COTTON YARNS
COMBED COTTON YARNS
SOUTHERN
COTTON YARNS AND COTTON CLOTHS
BANKERS
BOSTON
PHILADELPHIA
7 Wall Street
53 State Street
NEW YOBE
BOSTON
750 Main Street
NEW YORK
ATLANTA
“
CHICAGO
CHARLOTTE
ST. LOUIS
BALTIMORE
X^A-AATIRIElsrOIE & OO
HARTFORD
COMMISSION MERCHANTS
Boston
THE AMERICAN MFG. CO.
New York
St. Louis
Chicago
Philadelphia
San Francisco
SELLING AGENTS FOR
PACIFIC MILLS A OOOHECO DEPT. OF THE PACIFIC MILLS
Also the printed lines of the HAMILTON PRINT WORKS
MERRIMACK MFG. OO.
SALMON FALLS MFG. OO.
BOSTON MFG. OO.
IPSWICH MILLS
MANILA, SISAL AND JUTE
CORDAGE
WHITTENTON MFG. OO.
65 Wall Street,
New York
•
C. B. Van Nostrand
BLISS, FABYAN & CO.
NEW YORK
BOSTON
CHICAGO
*« WALL STREET
Commission Merchants
INDUSTRIALS
;
[Established 1863.]
W. T. HATCH & SONS
BANKERS AND BROKERS
71
Broadway,
-
New York
ANDROSCOGGIN MILLS
BATES MFG. CO.
BOSTON DUCK CO.
COLUMBIAN MFG. CO.
CORDIS MILLS
EDWARDS MFG. CO.
LACONIA CO.
MEMBERS OF
NEW YORK STOCK EXCHANQE.
FOR
OTIS COMPANY
OTIS COMPANY—Underwear
PALMER MILLS
HILL MFG. CO.
THORNDIKE COMPANY.
WARREN COTTON MILLS.
Pepperell Manufacturing Company
ANNUAL
SEE
COTTON
EDITORIAL,
CROP
PAGES.
REPORT
[Vox.. LXXXXI
THE CHRONICLE
iryn
Cotton t&ffa&t,.
FARBER-DREWRY COMPANY
INCORPORATED
DRY GOODS COMMISSION
58 LEONARD
MERCHANTS
STREET, NEW YORK
SELLING AGENTS OF
MILL NO. 3, CHADWICK-HOSKINS CO.
DACOTAH COTTON MILLS.
OCONEE MILLS CO.
NOKOMIS COTTON MILLS.
MIDDLEBURG MILLS.
financial.
G. A. STAFFORD <fc CO.
A. B. Leach & Co.,
COMMISSION MERCHANTS
BANKERS
SAN FRANCISCO
CHICAGO
BOSTON
NEW YORK
149 Broadway,
Aurora Cotton Mills
Kosciusco Cotton Mills
Cuero Cotton
Mascot Cotton Mills
Factory
Glen Raven Cotton
140 Dearborn Street, CHICAGO
Sanders Cotton Mills
Mills Co.
Chertnut ft 4th St,
PHILADELPHIA
Mfg. Co.
Mfg. Co.
Hamburger Cotton Mills
Swift
Kennebec
Williamson
Mfg. Co.
BOSTON
28 State Street,
Pilot Cotton Mills Co.
Economy Mfg. Co.
NEW YORK
C I. HUDSON & CO.
WILLIAM ISELIN & CO.
■embers New York end Chicago Stock
Miscellaneous Securities
in all Markets
NEW YORK
-
Exchangee
TELEPHONE S070 JOHN.
MERCHANTS AND
MERCANTILE BANKERS
COMMISSION
No. 1 Greene St.,
YOKE.
loa. 84-36 wall. ST., NEW
PRIVATE WIRES TO PRINCIPAL CJTXBa
Finance Manufacturers’ Accounts and those of
Selling Agents
.
MELLOR & PETRY
■
■
Stocks, Bonds,
GATT.T~Nr
NEW YORK
BOSTON
■
4
Investment Securities
Philadelphia
104 SOUTH FIFTH ST.,
<5c
PHILADELPHIA
'p'f.
■>
MEMBERS
CHICAGO
NEW YORK STOCK EXCHANGE
PHILADELPHIA STOCK EXCHANGE
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
SHEETINGS, DRILLS,
FLANNELETTES,
BANKERS
III BROADWAY, NEW YORK
DEALERS IN
COTTON YARNS- -all numbers.
Bonds and Guaranteed Stooka
Orders Executed in all Markets.
JOHN H. DAVIS &. CO.
yr-
BANKERS AND BROKERS.
No. 10 WALL STREET.
TEXTILE COMMISSION CO.
39 Worth Street, New York
N.
Y.
Phila.
and
Orders for Stocks and Bonds executed upon
Interest Allowed
BROWN AND COLORED COTTON GOODS
Stock Exchanges.
gU
Exchanges In this country and Europe.
Especial attention given to supplying hlgh-claaa
INVESTMENT SECURITIES.
Members
on
Deposits Subject to Checfce
WEBB & CO.
,
Special Lines for the Cutting-Up and Converging Trades
FOR
COTTON
CROP
SEE EDITORIAL
PAGES.
ANNUAL
T4 BROADWAY
REPORT
>
-
,
•
'
INVE8THENT SECURITIES
»■
-
«, -5
NEW YORK
Sept. 10 1910.
THE CHRONICLE
xxm
tgttflinjeers.
&attan (&0O&&.
H. M. BYLLESBY & CO.
J. SPENCER TURNER C9
ENGINEERS
COMMISSION MERCHANTS,
86-88 Worth St., NEW
EXAMINATIONS and BEPOBTS
218 La Salle
Selling Agents
CONSOLIDATED COTTON DOCK COMPANY
Street, CHICAGO
Also
Portland. Ore.
Oklahoma City. Oklahoma.
Imperial Cotton Co., Ltd.
Washington Mills.
Bransene Waterproof Fabrics.
Mobile. Ala.
J. G. WHITE & CO.
Chicago.
St. Louis.
London.
Engineers, Contractors
43-49 Exchange
Chicago, Ills.
BRANCHES:
Boston.
San Francisco.
Manchester.
San Francisco, Cal.
L. F. DOMMERIGH & CO.
Financial Institutions and Investors.
Iloctric Railways, Electric Light and Power
NEW YORK
Plants, Irrigation Systems Financed,
Designed and Buiit
General Offices, 67 Greene Street
London Comspon denis:
J. G. WHITE A CO* Limit**
t Cloak Lane. Cannon St.. E. C.
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
DISCOUNT AND GUARANTEE SALES
C. G. YOUNG
CARRY NO GOODS FOR OWN ACCOUNT
Engineering and Construction
Methods,
Cosmos Cotton Go.
U. S. Bunting Co.
H. B. Wiggins' Sons'Go.
Place, NEW YORK
Investigations and Reports on Electric
Railway Gas, Electric Light and Pom
Pro per ties. Irrigation Systems, Ac., for
Plana,
YORK, N. Y.
SIXTY
WALL ST.,
Operation
Public Utilities and Industrials
NEW YORK
Hggplfctu Cotton.
Reports for Financing
EGYPTIAN COTTON—ONLY
Mem Am. Soc. C. B.
H. U. WALLACE
ENGINEER
Bxamlnatioas, Reports, Surveys, Supervision at
•onstruotlon and operation ot Electric and Steam
Railroads, Power Plants, Transmission lines.
Central
Stations
and
Irrigation projects,
Bx-Supt. Illinois Central RR.:
CHOREMI, BENACHI & CO.,
ALEXANDRIA, EGYPT
Ete.
Chief Engineer
Illinois Central RR.; and Gen'I Manager Chicago
Lake Shore A South Bend Electric Railway.
Marauetta Bldg.
Branch..I
CHICAQO, ILL.
53 State
■dmond C. Yan Dlest
Robert McF. Doble
Thomas L Wilkinson
LIVERPOOL
-
St., BOSTON
MANCHESTER
FRANKFORT A. M.
-
Associated Engineers Co.
Examinations, Reports Construction, Operation
irrigation Enterprises a Specialty
41T Century Building
ISstahl sued 1880.
L.
A.
REGISTER A CO.
Successors to
ESTABLISHED
18«8
DBKYKIL. COLO.
lETn?. CFac An cLires Iulc.
Pepper A Register
COTTON
ENGINEERS & GENERAL CONTRACTORS
U, NocA Broxd Stmt Phil.delpU«.
EGYPTIAN, PERUVIAN. AMERICAN
Rfcittittg Sugivuuxs.
H. M. CHANCE
Consulting Mining Engineer and Geologist
COTTON
WASTE
BOSTON. MASS.
ALEXANDRIA, EGYPT
GOAL AND MINERAL PROPERTIES
Examined, Developed, Managed
•ST Drexel Bldg.
I860
PHILADELPHIA. PA
C. M.
BLAISDELL, Prest. A Treas.
1008
The United States Life
Insurance Co.
THE S.
Finance Committee
CLARENCE H. KELSEY. Pres. TitleGu.&Tr.Oe.
WM. H. PORTER, Pres. Chemloal National Bank
■D. TOWNSEND. Pres. Imp. A Traders Nat. Bk
Good men, whether experienced in life insurance
or not, may make direct oontraots with this Com*
pany, for a limited territory If desired, and secure
for themselves, in addition to first year’s commis¬
sion, a renewal interest insuring an lnoome for the
future.
Address the Company at Its Homo Office
No. 277 Broadway. New York City
BLAISDELL, JR., CO.
COTTON
Egyptian
IN THE CITY OP NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M. D., President.
G. A. BLAISDELL, V.-Pres. A Sec’y
Established 1860—Incorporated 1893.
Peruvian
American
Long Staple a Specialty.
Shipments direct to Mill from Egypt, Pern and all American Southern
Points.
Cotton Waste Purchased
on
Yearly Contract from Mills.
CHICOPEE, MASS.
FOR
ANNUAL
RTT-TT.
COTTON
WntTriPTAT.
CROP
PAGTT.R
REPORT
[Yol.
THE CHRONICLE
XXIV
LX XXXI.
'gvust ©omjratiies.
©jOttjCrtt.
Mississippi Valley Trust Co.
St. Louis.
Fourth & Pine Sts.,
Woodward &. Stillman
1®Q fidfl 000
CAPITAL, SURPLUS
and
PB0Fir5J?*>o»0W»uuv
FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
A GENERAL
DIRECTORS.
John I. Beggs. President
Traction Co.
Cotton Merchants
16 TO 22 WILLIAM STREET,
Milwaukee Light Heat A
Wilbur F. Boyle, Boyle & Priest.
James E. Brock, Secretary.
NEW YORK
American Cotton of all Grades suitable to wants of
Spinners
„
_
„
Murray Carleton, President Carleton Dry Goods Oe.
Charles Clark.
Horatio N. Davis, President Smith ADavls Mfg.Oo.
John D Davis. Vice-President.
David R. Francis. Francis, Bro. & Co.
August Gehner, President German-AmerlcanBank
S. E. Hoffman. Vice-President.
Breckinridge Jones, President.
Wm. Q. Lackey. Vice-President and Bond Officer
W. J. McBride. V.-Pres. HaskeU & Barker Car Go
Nelson W. McLeod. Vloe-President GraysonMcLeod Lumber Co.
Norveil,
Saunders
President
Norvell-Shaplelgh
Hardware Oo.
Robert J. O’Reilly, M. D.
HERKLOTZ, CORN & CO.
COTTON MERCHANTS
■-
Wm. D. Orthwein, President Wm.
Grain Co.
D. Orthweln
Henry W. Peters, President Peters Shoe Co.
H. C. Pierce, Chairman Board Waters-PleroeOil Oo.
August Schlafly, August Schlafly & Sons.
1 j. H. Stockton. President Majestic Mfg. Co.
Julius S. Walsh, Chairman of the Board.
Rolla Wells.
New York
II-I9 Wiliam Street,
MEMBERS OF
NEW TORE COTTON EXCHANGE.
NEW ORLEANS COTTON EXCHANGE.
ASSOCIATE MEMBERS LIVERPOOL COTTON ASSOCIATION.
NEW TORE PRODUCE EXCHANGE.
NEW TORE COFFEE EXCHANGE.
CHICAGO BOARD OF TRADE.
LONDON COMMERCIAL SALE ROOMS (COFFEE EXCHANGE).
The Trust Company
of North America
503-505-607 Chestnut St.. Philadelphia
31.000,000
CAPITAL
HENRY G. BRENGLE. President.
JOS. S. CLARK, Vice-President.
CHAS. P. LINE AWE AVER, Sec. & Treas.
ADAM A. STULL, Chairman of Board.
DIRECTORS.
ESTABLISHED IN 1856.
ZEEenzry lECexi/tz & Co.
COMMISSION MERCHANTS
16 to 31 William
gPnture Delivery
Cotton
At the New York,
Liverpool and New Orleans Cotton Exchanges.
Joseph C. Fraley.
Harry C Francis.
Henry L. Gaw Jr.,
Also orders for
Coffee
John Mcllhenny.
Richard Wain Mein.
Clement B. Newbold.
John W. Pepper.
William F. Read.
Adam A. Stull,
Edward D. Toland,
Joseph R. Wain wrlght.
Rhode Island Hospital
Trust Company
PROVIDENCE, R. I.
—82,000,000
$2,000,000
CAPITAL
SURPLUS
At the New York Coffee Exchange
DIRECTORS.
Royal C. Taft,
Grain and Provisions
at the
J. Levering Jones,
Malcolm Lloyd.
William D. Wlnsor.
Howard 8. Graham.
8amuel F. Houston.
Street, Mew York
Execute Orders for
Henry G. Brengle,
James Crosby Brown,
John Cadwalader,
E. W. Clark Jr..
Eckley B. Coxe Jr..
Edwin S. Dixon;
Eugene L. Ellison.
Robert H. I. Goddard,
Robert I. Gammell,
William B. Weeden,
Edward D. Pearce,
Robert Knight.
John W. Danielson,
Herbert J. Wells,
Chicago Board of Trade and
Grain and Cotton-Seed. Oil
at the New York Produce Exchange
'
Lyman B. Goff,
Rowland G. Hazard,
J. WiUiam^BarkduI
C. Morgan Abram
Established 1872.
Henry Beer
Edgar H. Bright.
lEL & 13.
BBEE,
NEW ORLEANS
325 Baronne Street,
MEMBERS OF
New Orleans Cotton Exchange
New York Coffee Exchange
New Orleans Future Brokers’ Association
New York Produce Exchange
New York Stock Exchange
Chicago Board of Trade
New York Cotton Exchange
Liverpool Cotton Association
PRIVATE HIRES TO PRINCIPAL POINTS
Howard O. St urges,
Stephen O. Metcalf,
Waiter R. Callender,
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jackson;
John R. Freeman,
Charles S. Mellen.
Robert W. Taft,
Webster Knight,
Nelson W. Aldrich,
Stephen O. Edwards,
Frank W. Matteson,
Samuel R. Dorranoe,
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAMWELL. Secretary.
PRESTON H. GARDNER, Trust Otfioet.
CYRUS E. LAPHAM, Asst. Sec’y.
JOHN E. WILLIAMS, Asst. Sec’y.
HENRY L. SLADER, Asst. Sec’y.
G. A. HARRINGTON. Asst.Tr.OffW
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YOKE
Members NEW TORE COTTON EXCHANGE
Telephone:
Private Wires to NEW TORE
Main 4907-4908
CUMMINGS & HUBBARD
COTTON
FUTURES
Exchange Building
(53 State St.)
BOSTON,
MASS.
Orders solicited for the purchase and sale of
COTTON CONTRACTS for FUTURE DELIVERT
SURPLUS,
$4,000,000.00
CAPITAL,
$2,000,000.00
Invites Personal and Business
Accounts. Acts
as
Trustee, Ex¬
ecutor, Administrator, Guard¬
ian
and in all Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
Correspondence Invited
55 Cedar St.
FOR
ANNUAL
SEE
COTTON
EDITORIAL
CROP
PAGES.
REPORT
B’way A 73rd St.
125th St. A 8th Ave.
Sept. 10 1910. j
THE CHRONICLE
Qvnst (Sompunies.
Girard Trust
XXV
Gattau.
Company.
/
Capital and Surplus, $10,000,000
CHARTERED 1836.
Acts
as
Executor. Administrator. Trustee.
Assignee and Receiver.
Agent for Individuals or
Financial
Corporations.
Interest Allowed on Individual and
Corporation Accounts.
Acts as Trustee of Corporation Mortgages.
Depositary under Plans of Reorganization,
Registrar and Transfer Agent.
Assumes entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.
Craig
E. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON. 2d Vice-President.
C. J. RHOADS, 3d Vlce-Pres. and Treasurer.
E. S. PAGE, Secretary.
MEMBERS
New York Stock
MANAGERS:
Edward J. Berwind,
Effingham B. Morris,
John A. Brown Jr..
John B. Garrett,
William H. Gaw,
Francis I. Gowen,
Geo. H. McFadden,
Jenks
&
New York Cotton
Randal Morgan,
Edw. T. Stotesbury.
Charles E. Ingersoll.
John S. Jenks Jr..
Exchange
Liverpool Cotton Association
New York Coffee
Exchange
New Orleans Cotton Exchange
Exchange
Chicago Board of Trade
Henry B. Coxe,
Edgar C. Felton,
Henry Tatnall,
Isaac H. Clothier,
William T. Elliott.
Thos. DeWItt Cuyler,
W. Hinckle Smith.
C. Hartman Kuhn,
B. Dawson Coleman.
James Speyer.
Broad and Chestnut Streets.
27 William
„
Street, New York
PHILADELPHIA
Industrial Trust Company
Providence* R. I.
CAPITAL
SURPLUS
$3,000,000
3.000.000
OFFICERS.
Cyrus P. Brown, President
Arthur L. Kelley, Vice-President
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addeman, Vice-President
Ward E. Smith, Treasurer
Chas. H. Manchester. Secretary
H. Howard Peoper, Asst.Treas.
Frederick B. Wilcox,Auditor
BOARD OF DIRECTORS.
Samuel P. Colt
Herbert N. Fenner
OIney T. Inman
J. Milton Payne
William R. Dupee
Eben N. Littlefield
Richard A. Robertson
Otis Everett
Joshua M. Addeman
C. Prescott Knight
James M. Scott
Jesse H. Metcalf
William H. Perry
John J. Watson Jr.
Arthur L. Kelley
Charles H. Allen
H. Martin Brown
John B. Branch
George F. Baker
William P. Chapin
George M. Thornton
Cyrus P. Brown
Chas. C. Harrington
Louis H. Comstock
HOPKINS, DWIGHT
CO.,
COTTON AND COTTON-SEED OIL
COMMISSION MERCHANTS
COTTON EXCHANGE BUILDING,
NEW YORK.
-
Orders for Future Contracts Executed in New York and
Liverpool.
Angus McLeod
Ezra Dixon
Howard O. Sturgis
Edward D. Pearce
Englehart C. Ostby
Mohr, Hanemann & Co.
CENTRAL
TRUST COMPANY
OF ILLINOIS
Cotton
NEW YORK
CHICAGO
Capital and Surplus
Members
-
$2,500,000
CHARLES G. DAWES, President.
A. UHRLAUB, Vice-President.
EDWIN F. MACK, Vice-President.
WILLIAM T. ABBOTT. Vice-President.
WILLIAM R. DAWES. Cashier.
L. D. SKINNER, Asst. Cashier.
WILLIAM W. GATES, Asst. Cashier.
JOHN W. THOMAS. Asst. Cashier.
ALBERT G. MANG, Secretary.
MALCOLM McDOWELL, Asst. Secretary.
WILLIAM G. EDENS, Asst. Secretary.
JOHN L. LEHNHARD, Asst. Trust Offioer.
BANKING, SAVINGS AND TBUST
DEPARTMENTS.
Exchange Building
fNEW YORK COTTON EXCHANGE
of LIVERPOOL COTTON ASSOCIATION
NEW YORK COFFEE EXCHANGE
lNEW YORK PRODUCE EXCHANGE
Orders for “FUTURES ” Executed
on
above
Exchanges.
G-wat!b.m.ey & Oo.,
COTTON MERCHANTS,
Manhattan
Trust
Company
22
Exchange Place,
WALL STREET
aa
aa
aa
NEW YORK
s:. it. ustttzttim:
Temporary Offices
113 BROADWAY
■ a
COTTON MERCHANT
82 BEAVER ST.,
NEW YORK
Special attention given Spinners’ Requirements for all grades and
Long Staple Cottons
Cotton sold to be
paid for on arrival at mills
CORNER NASSAU
FOR
ANNUAL
SEE
COTTON
EDITORIAL
CROP
PAGES-
REPORT
IVOL. LXXXXI
THE CHRONICLE
XXVI
©OttOTX.
COTTON PERUVIAN
AMERICAN
JOHN G. LONSDALE
BENJ. B. BRYAN
PHILADELPHIA
241 Chestnut St.,
New York
MEMBERS OF THE NEW YORK
COTTON EXCHANGE
T. J. BROSNAHAN
R. W. McKINNON
Chicago
purchase aad
for future delivery.
Orders solicited for the
MEMBERS OP
sale of cotton
New York Stock Exchange
Boston Stock Exchange
LOGAN & BRYAN
Chicago Stock Exchange
New York Cotton Exchange
New Orleans Cotton Exchange
New York, 111
Chicago Board of Trade
Siegfr. Gruner & Co.
COTTON MERCHANTS
Broadway
17 South William Street*
NEW YORE.
Chicago, 2 Board of Trade
New York Coffee Exchange
Mason Smith & Co.,
New York Produce Exchange
OTTON COMMISSION
Liverpool Cotton Association
Atlantic to Pacific,
Lakes to the Gulf
Private Wires
Great
NEW
MERCHANTS
ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX*
8 iiyers of Spot Cotton.
Orders for Contracts Exe¬
cuted in New Orleans. New York,
Liverpool and Havre Markets.
fgittanxial.
Thomas L. Manson&Co.
STOCK BBOKEKS
Edwin J. Kaufman,
William Bouldin, 3rd,
Harry Renskorf
Walter Lyons,
J. Theus Munds.
Members N. Y. and Boston
Stock Exchanges.
Specials.
100 Broadway,
RENSKORF, LYON & CO.
43-49 Exchange
Place, NEW YORK
TELEPHONE 7450-1-2-3 HANOVER.
-
NEW YORK
Tel. 3500 Rector
•rivals Wires to Boston. Hartford.
and Philadelphia
New Haven
A. M. KIDDER
& CO.
BANKERS
New York Stock
NEW YORK.
• NASSAU STREET,
Members
New York Cotton
Exchange.
Chicago Board of Trade
Exchange.
Established 1855
tfHUBERS OF N. Y. STOCK
Allow Interest on deposits
isy and sell on oommission
EXCHANGB.
subject to right check,
stocks and bonds, and
*eal In
railroad bonds
purchase and sale of contracts for
future delivery.
Orders solicited for the
GUARANTEED STOCKS
tenry O.
Campbell
Edwin P. Campbell
James Q. MaoLean
H. G.
Campbell & Co.
il WALL STREET. NEW YORK
Members New York Stock Exchange
gasurltles Bought A Sold on
HAYDEN, STONE & CO.
BANKERS AND BROKERS
25 Broad Street,
87 Milk Street,
-
William Herbert & Co.
MEMBERS N. T. STOCK EXCHANGE
Hanover Bank
NEW YORK
il PINE
BOSTON
*
New York Ootton Exchange
HENRY
Exchange
Boston Stock
Exchange
CLEWS & CO.
Mpuiipnc
MEMBERS
York
/NEW YORK STOCK EXCHANGE
{nEW
YORK COTTON EXCHANGE
*
Deposit accounts received from Corporations, Firms and Individuals, subject to cbecque on
demand.
Interest allowed on all dally balanoes and credited monthly.
Certificates of deposit Issued, payable on demand or at a fixed date, bearing Interest.
Investment orders from Institutions, Trustees of Estates and Capitalists will receive special
attention.
Orders executed on all the Exchanges for Investment or on margin,
v
ANNUAL
SEE
Ja*. B. Colgate
& Co.
M Wall Street. New York.
Investment
Members
N. T.,8toek Ex.
WM. FAHNESTOCK.
Memb. N. Y. Stock Ex.
Bonds.
T. J. MUMFORD
Fahnestock & Co.
Broker* and Dealers in
VICKERS &. PHELPS
» Wall Street, New York City.
Members of New York Stock Exchange
BONDS
Gash orders only in stocks
W. H. Goadby
accepted
& Co.
Bankers and Brokers
f Cotton futures bought and sold on commission.
& Letters of Credit Issued to travelers available In all parts of the world.
FOR
1910
INVESTMENT SECURITIES
2 WALL STREET.
AMERICAN AND FOREIGN BANKERS
11, 13, 15 and 17 Broad St., and 35 Wall St., New
STREET,
Building
•
NEW YORK
UBS
MEMBERS
New York Stock
Commission.
SO. 74 BROADWAY,
COTTON
CROP
EDITORIAL
PAGES.
REPORT
NEW YORK:
Sept. 10 1910.
THE CHRONICLE
XXVII
©xrtfccrtt.
SMITH & HAYNE
Frank B. Hayne (In Comrnendum)
Cotton Brokers.
COTTON EXCHANGE BUILDINO.
NEW ORLEANS, LA.
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS. NEW YORK
AND LIVERPOOL MARKETS.
Latham, Alexander & Co.
BANKERS
AND
R. H. ROUNTREE &
CO.,
Commission Merchants.
Cotton Commission Merchants
COTTON, GRAIN, PROVISIONS and COFFEE
COTTON EXCHANGE BUILDING.
NEW YORK.
43-49 EXCHANGE PLACE
NEW YORK
LEHMAN. STERN & CO.. Limited. New Orleans.
LEHMAN BROS.
Nos. 16-22 William Street. New Yolk.
Members oj the Stock, Cotton, Cofjee
and Produce Exchanges, New York.
Accounts of Banks, Bankers, Merchants and Individuals received on
favorable terms, and interest allowed on daily balances, subject to check
at
sight.
Orders executed on the above Exchanges, as well In
New Orleans. Chicago and foreign markets.
Contracts for Cotton for future delivery
bought and sold on commission
gitiaticial.
E. W. CLARK & CO.
BANKERS,
PARTICULAR ATTENTION GIVEN TO PUBLIC WIRE ACCOUNTS.
PHILADELPHIA
321 Chestnut St,
Members Phlla. and New York Stock Exchanges.
interest allowed on deposits.
New York Correspondent.
George P. Schmidt
Frederic Gallatin Jr.
Albert R. Gallatin
B.Sk!
WILLIAM RAY.
J. Prentice Kellogg
William A. Lamed
Chas. H. Blair Jr.
M. T. MAINE JK.
OTTO 0. STEINHAUSER.
WILLIAM RAY & CO.
SCHMIDT & GALLATIN
SUCCESSORS TO GEO. COPEL4ND Sc CO
,
Members N. Y. Stock Exchange
111
COTTON BROKERS
Broadway
NEW YORK CITY
Cotton Exchange,
McCURDY,
TELEPHONE
HENDERSON & COMPANY
New York and
General Banking and Stock
Exchange Business.
a
Norman S. Walker Jr.
EXCHANGE
COTTON ASSOCIATE
wtmBtK8|UVERpoOL
Orders for Future
WEUBERS N. 7. STOCK EXCHANGE
Transact
mfmrfrq5NEW YORK COTTON
227 BROAD
24 NASSAU STREET
NEW FOUR
...
delivery Contracts executed on
Liverpool Cotton Exchanges
COTTON FOR SPINNERS’ USE.
John Y. G. Walker
Ex. Norton
WALKER BROS.
71
George M. Shutt
BROADWAY, N. Y.
Members N. Y. Stock Exchange
INVESTMEMT
J. S. Far lee.
GEO.
SECURITIES
H. L. Finch.
Herman D. Hensel
COTTON
J. S. FARLEE & CO.
MEMBERS NEW YORK STOCK EXCHANGE.
Coffee
Brokers and Beaters in
BROKERS,
Exchange Building,
INVESTMENT SECURITIES
11 WALL
& CO,
W. S. Tarbell.
66-70 Beaver Street
STREET. NEW YORK
D. H. Schmidt & Co.
Members New York Stock
.!
New York
City.
Orders solicited for the
Exchange.
Delivery.
purchase and sale of Contracts for Future
Correspondence invited.
Invaatmant Saourltlaa
IT WILLIAM
STREET
NEW
YORK*
Simpson, Pearce & Co.
Members New York Stock
ROBERT
Exchange
MOORE & CO.
56 BEAVER
Telephones
111 BROADWAY
4460-1-2-6-4 Rector
NEW YORK
Orders For Future
and
E. & C. RANDOLPH
STREET, NEW YORK
Delivery Executed in
New York
Liverpool Exchanges!
Members New York Stock Exchange.
Ill Broadway. New York.
Open Market Security Department
HORACE HATCH. Manager.
COTTON
PURCHASED
FOR
SPINNERS’ USE
Dealers in Investment and Other Securities of the
—
~
--
PattstStstaixBifcOKaidi:
FOR
ANNUAL.
SEE
COTTON
EDITORIAL
CROP
PAGES.
REPORT
THE CHRONICLE
XXVIII
(VOL.
LXXXXI.
Rattan.
GEO. H. MCFAD DEN &
BRO.,
Cotton Merchants
121 Chestnut Street,
3 South William
PHILADELPHIA
NEW YORK
-
-
Street,
-
Selling Agencies I
FOR SOUTHERN MILLS.
FOR NEW ENGLAND AND CANADA.
BOSTON:
'
70
ATLANTA; GA.
SPARTANBURG, S. C.
GREENVILLE, S. C.
CHARLOTTE, N. C.
AUGUSTA, GA.
Kilby Street.
PROVIDENCE:
FALL RIVER:
6 Washington Row.
25-28 Archer Building.
29 North Water St.
87 St. Francois Xavier Street.
NEW BEDFORD:
MONTREAL:
Foreign Correspondents!
FREDERIC ZEREGA & CO., Liverpool.
M°FADDEN BROTHERS & CO., M. B. H., Bremen.
SOCIETE DTMPORTATION ET DE COMMISSION, Havre.
DICK BROTHERS & CO.
30 BROAD STREET, NEW
YORK
MEMBERS.
Liverpool Cotton Association
York Cotton Exchange
Philadelphia Stock Exchange
New Orleans Cotton Exchange
New York Coffee Exchange
Chicago Board of Trade
New York Stock
New
Exchange
BRANCH OFFICES
NEW LONDON
BOSTON
PHILADELPHIA
HOTEL ST. REGIS, NEW YORK
WALDORF-ASTORIA HOTEL, N. Y.
PRIVATE
WIRES
TO
ALL
PRINCIPAL CITIES
ORDERS EXECUTED IN ALL
FOR
ANNUAL
SEE
COTTON
EDITORIAL
MARKETS
CROP
PAGES.
REPORT
Sept. 1«
1910.]
THE CHRONICLE
(Rattan.
xxix
,
STEPHEN M. WELD & CO
COTTON COMMISSION MERCHANTS
NEW YORK CITY,
82-92 BEAVER ST.
Members of NEW YORK AND NEW
ORLEANS COTTON
AND LIVERPOOL COTTON
ASSOCIATION
EXCHANGES,
ORDERS FOR
FUTURE DELIVERIES EXECUTED
ON ALL EXCHANGES
SPECIAL ATTENTION TO SPINNERS*
ORDERS.
CORRESPONDENCE SOLICITED.
CORRESPONDENTS:
STEPHEN M. WELD & CO.,
WELD &
89 State
St., BOSTON.
STEPHEN M. WELD & CO.,
503 Chestnut St.,
PHILADELPHIA.
STEPHEN M. WELD & CO.
7
CoUege St., PROVIDENCE, R. I.
CO.,
LIVERPOOL, England.
ALBRECHT, WELD & CO.,
BREMEN, Germany.
•
WELD & NEVILLE AGENCY
MILAN, ITALY
WELD & NEVILLE
COTTON MERCHANTS
HOUSTON, TEXAS
82-92 Beaver St., NEW YORK
SPECIAL ATTENTION GIVEN TO
SPINNERS’ REQUIREMENTS FOR
SPOT COTTON OF ANY GROWTH
Correspondence invited from Southern
Mills
'1 *
v..y
THE CHRONICLE
& Co.
*
COTTON MERCHANTS
COFFEE
EXCHANGE BUILDING
HANOVER
SQUARE
NEW YORK
«
i*'
MEMBERS
Exchange
New Orleans Cotton
,
fc
Exchange
■
■
New York Coffee
1
New York Cotton
Exchange
Chicago Board of Trade
New York Produce
Exchange
Associate Members Liverpool Cotton Association
CABLE ADDRESS “NODINE” NEW YORK
*•
’«
i,
[Voii. LXXXXI*
@FedFRASER